AT THE HEART OF ASIA S ECONOMIC GROWTH

AT THE HEART OF ASIA’S ECONOMIC GROWTH DI PUSAT PERTUMBUHAN EKONOMI ASIA Laporan Tahunan Annual Report

2011

Daftar Isi / Table of Content Sekilas Indopoly / Indopoly at a glance

02

Visi, Misi dan Filosofi / Vision, Mission and Philosophy

04

Jejak Langkah Indopoly / Indopoly ‘s Milestones

06

Peristiwa Penting 2011 / Significant Events in 2011

09

Pencapaian Indopoly / Indopoly’s Achievements

12

Ikhtisar Keuangan / Financial Highlights

14

Grafik Kinerja Keuangan / Financial Peformance

15

Ikhtisar Saham / Stock Highlights

16

Sambutan Presiden Komisaris / Message from the President Commissioner

18

Laporan Kepada Pemegang Saham / Report to the Shareholders

20

Profil Perusahaan / Company Profile

26

Tinjauan Operasional / Operational Overview

30

Produksi / Production

32

Kinerja Pemasaran / Marketing and Sales

36

Penelitian dan Pengembangan / Research and Development

38

Sumber Daya Manusia / Human Resources

40

Tanggung Jawab Sosial Perusahaan / Corporate Social Responsibility

42

Tata Kelola Perusahaan / Good Corporate Governance

48

Pembahasan dan Analisa Manajemen / Management Discussion and Analysis

60

Laporan Keuangan / Financial Report

67

Informasi Perusahaan / Corporate Information

68

Di Pusat Pertumbuhan Ekonomi Asia At the Heart of Asia’s Economic Growth Asia merupakan motor penggerak pertumbuhan ekonomi dunia dewasa ini. Cina, India dan Indonesia adalah tiga negara berpenduduk terbesar di kawasan yang berkembang pesat ini, di mana ketiganya menunjukkan kondisi perekonomian yang meningkat. Peningkatan ini telah memicu naiknya permintaan akan produk-produk konsumen secara signifikan yang pada gilirannya memacu pertumbuhan ekonomi yang kuat. Di tengah pertumbuhan yang dinamis ini, Indopoly mengoperasikan empat lini produksi BOPP dan sebuah lini BOPET di Indonesia dan Cina. Kedua negara ini kini merupakan dua pasar Asia yang sangat dinamis, dengan permintaan akan produk-produk konsumen yang menggunakan bahan kemasan BOPP dan BOPET hasil produksi Indopoly dalam volume yang kian meningkat.

Asia is currently the world’s leading economic growth engine. China, India and Indonesia are the three most populous nations in this fast growing region, all of which are showing an improvement in macroeconomic conditions. This improvement triggers a significant rise in demand for fast moving consumer goods which are then generating strong economic growth. Amid this robust growth, Indopoly operates four BOPP production lines and a single BOPET line in Indonesia and China. These are two of the most dynamic markets in Asia today, with a huge demand for consumer goods that use our BOPP and BOPET packaging materials in ever-growing quantities.

Laporan Tahunan Indopoly 2011

1

Our Accomplishments Indopoly uses the most advanced technology to produce high quality products in the premium flexible packaging industry

Sekilas INDOPOLY INDOPOLY at a Glance

PT Indopoly Swakarsa Industry Tbk. (“Indopoly” atau “Perseroan”) didirikan pada tahun 1995 dengan tujuan jangka panjang untuk menjadi grup pabrikan berkelas dunia di bidang industri flexible packaging berkualitas. Perseroan memulai dengan satu lini produksi film Biaxially-Oriented Polypropylene (BOPP) di Purwakarta, Indonesia. Pada tahun 2009, Perseroan kemudian menambah satu lagi lini produksi BOPP di Indonesia sebelum akhirnya mengembangkan jaringan dengan mengakuisisi dua lini BOPP di Cina – yaitu di kota Kunming dan Suzhou. Di tahun 2011, Indopoly membuka lini produksi baru dengan desain teknologi tercanggih dan terkini, Biaxially-Oriented Polyester (BOPET) di Purwakarta.

PT Indopoly Swakarsa Industry Tbk. (“Indopoly” or “the Company”) was founded in 1995 with the longterm aim to be a world-class manufacturing group in the premium flexible packaging industry. The Company began with one state-of-the-art BiaxiallyOriented Polypropylene (BOPP) film production line in Purwakarta, Indonesia. It then added another BOPP production line in 2009 before acquiring two subsidiaries owning two BOPP lines in China, one each in the city of Kunming and Suzhou. In 2011, Indopoly installed a brand new state-of-the-art BiaxiallyOriented Polyester (BOPET) line in its Purwakarta factory.

Dengan total kapasitas per tahun mencapai 100.000 ton untuk BOPP dan BOPET, menempatkan Indopoly di posisi strategis untuk dapat memetik hasil dari pertumbuhan ekonomi Asia yang kian meningkat dalam beberapa dekade ke depan.

With a combined total annual capacity reaching 100,000 tonnes of BOPP and BOPET, Indopoly is strategically positioned to reap the rewards of Asia’s sustainable economic growth over the next several decades.

Dua dari lini produksi Perseroan yang terletak di dua negara dengan tingkat pertumbuhan ekonomi yang

Our production sites in two of the fastest growing economies in Asia today attest to our growing stature

2

Indopoly Annual Report 2011

Sekilas INDOPOLY INDOPOLY at a Glance

tercepat di Asia, membuktikan pertumbuhan kami sebagai pemimpin masa depan di salah satu industri dengan tingkat pertumbuhan tercepat di dunia.

as a future leader in one of the world’s fastest growing industries.

Saat ini, Indopoly diakui dan dikenal sebagai salah satu pelopor perusahaan multinasional di industri flexible packaging berkualitas, yang telah menghasilkan produk kelas atas untuk konsumenkonsumen multinasional di seluruh dunia.

Today, Indopoly is widely regarded as one of Indonesia’s pioneering multinational companies in the premium flexible packaging industry, producing highend products for clients around the world.

Dipasarkan dengan merk dagang , produk-produk ini terkenal akan fitur-fitur inovatif dengan kualitas tinggi yang umumnya digunakan untuk kemasan rokok dan fine food packaging. Termasuk diantaranya produk-produk yang dikategorikan seperti oxobiodegradable, breathable dan high barrier films.

Marketed under the brand name , these products are renowned for their innovative features and highend quality that are mainly used for cigarette and finefood packaging. They include specialty products such as oxo-biodegradable, breathable and high barrier films.

Pada tahun 2011, Indopoly memperkerjakan 1.009 karyawan di Indonesia dan Cina dengan total pendapatan sebesar Rp 1.818 milyar.

In 2011, Indopoly employed 1,009 personnel working in Indonesia and China, generating total revenues of IDR 1,818 billion.


3

Visi/ Vision Perusahaan dan karyawan bertumbuh bersama untuk meraih pencapaian yang lebih baik.

Company and employee grow together to achieve greater heights.

Misi/Mission

4

Menitikberatkan pada soft power kami: teknologi, kualitas, jasa dan sumber daya manusia.

To emphasize our softpower: technology, quality, service, and human capital.

Memastikan pertumbuhan yang berkesinambungan dan memberikan nilai lebih kepada para pemegang saham.

To ensure sustainable growth and create value.


Filosofi / Philosophy Berorientasi kepada pasar Kami berkomitmen untuk menyediakan produk berkualitas tinggi dengan layanan yang memuaskan untuk memenuhi kebutuhan pelanggan kami.

Market-Oriented We pledge to provide high performance products with excellent services to satisfy our customers’ need.

Profesionalisme Kami berkomitmen untuk terus meningkatkan keahlian profesional, efisiensi manajemen, dan tanggung jawab dalam setiap pekerjaan.

Professionalism We are commited to enhancing professional skills, management efficiency, and working responsibility.

Kerjasama Konstruktif Kami percaya kerjasama yang solid dan saling membangun adalah kunci kesuksesan.

Constructive Teamwork We believe a constructive teamwork with strong sense of unity is the key to success.


5

Jejak Langkah INDOPOLY INDOPOLY’s Milestones

Terobosan teknologi berhasil meningkatkan kecepatan produksi sebesar 10%. PT Indopoly Swakarsa Industry dan Yunnan Kunlene Film Industries Co. Ltd. (Yunnan Kunlene) didirikan.

Technological breakthrough increases production speed by 10%.

PT Indopoly Swakarsa Industry and Yunnan Kunlene Film Industries Co. Ltd. (Yunnan Kunlene) are established.

1995

Suzhou Kunlene Film Industries Co. Ltd (Suzhou Kunlene) didirikan. Suzhou Kunlene Film Industries Co. Ltd (Suzhou Kunlene) is established.

1996

1998

2001

lini produksi - Pembukaan lini produksi - Pembukaan film BOPP di luar pertama di Purwakarta, Indonesia dengan kapasitas produksi sebesar 10.000 ton/ tahun. Indopoly’s 1st production line is commissioned in Purwakarta, Indonesia. Capacity is 10,000 tonnes/year.

6


Indonesia pertama di Kunming, Cina dengan kapasitas produksi sebesar 10.000 ton/ tahun. 1st overseas BOPP film line is commissioned in Kunming, China. Capacity is 10,000 tonnes/year.

2002

Mencapai kualifikasi sebagai Authorized Supplier bagi salah satu pabrik rokok terbesar di dunia. Qualified as Authorized Supplier to the one of world’s biggest cigarette manufacturers.

Jejak Langkah INDOPOLY INDOPOLY’s Milestones

Kunlene - Yunnan kembali memenangkan

- Pembukaan lini produksi

film BOPP di luar Indonesia kedua di Suzhou, Cina dengan kapasitas produksi sebesar 25.000 ton/tahun.

penghargaan “100 Star Enterprise Awards” selama dua periode berturut-turut.

2nd overseas BOPP film line is commissioned in Suzhou, China. Capacity is 25.000 tonnes/year.

Yunnan Kunlene wins its second consecutive “100 Star Enterprise Awards. Kunlene - Suzhou menerima penghargaan

Kunlene - Yunnan memenangkan penghargaan

“Superior Award” untuk kemasan makanan dari American Institute of Baking.

“100 Star Enterprise Awards”. Penghargaan ini diberikan kepada perusahaan milik asing yang sukses beroperasi di Cina.

Suzhou Kunlene receives Superior Award for food packaging from American Institute of Baking.

Yunnan Kunlene wins its first “100 Star Enterprise Awards”, awarded to successful foreignowned companies operating in China.

2003

2004

2006

Menciptakan terobosan dengan mengeluarkan film Balanced High-Shrink untuk kemasan rokok. Achieves breakthrough by creating a Balanced HighShrink film for cigarette packaging.

2008

Peluncuran produk film Clear Wrap dengan suhu lebih rendah yang dipakai untuk segel kemasan rokok. Launch of Clear Wrap Film, a lower temperature sealing for cigarette packaging.


7

Jejak Langkah INDOPOLY

-

INDOPOLY’s Milestones

Peningkatan kecepatan mesin pada lini produksi BOPP kedua di Purwakarta, Indonesia sebesar 10%.

melalui Golden - Pembukaan lini produksi - Indopoly Polindo Industries film BOPP kedua di Pte. Ltd. mengakuisisi Yunnan Kunlene dan Suzhou Kunlene.

Purwakarta, Indonesia dengan kapasitas produksi 35.000 ton/ tahun.

Indopoly through Golden Polindo Industries Pte. Ltd. has formally acquired Yunnan Kunlene and Suzhou Kunlene companies.

2nd BOPP line is commissioned in Purwakarta, Indonesia. Capacity is 35,000 tonnes/year.

2010

2009

Kunlene - Yunnan memenangkan penghargaan “100 Star Enterprise Awards” selama tiga periode berturut-turut.

batu pertama - Peletakan ( ) ground-breaking

pembangunan lini extrusion coating untuk film thermal lamination di Suzhou Kunlene.

Yunnan Kunlene wins its Ground-breaking for new third consecutive “100 extrusion coating unit Star Enterprise Awards. for thermal lamination film facility in Suzhou Kunlene.

Machine speed is increased by 10% in second BOPP line in Purwakarta, Indonesia.

-

Peletakan batu pertama (groundbreaking ) untuk mesin BOPET sebagai lini produksi ketiga di Purwakarta, Indonesia. Ground-breaking for new BOPET, the third production line in Purwakarta, Indonesia.

-

Indopoly menjadi perusahaan publik dan mencatatkan sahamnya di Bursa Efek Indonesia. Indopoly becomes a publicly listed company in the Indonesia Stock Exchange.

Rapat Umum Pemegang Saham Luar Biasa (RUPSLB) Indopoly dengan hasil keputusan rapat yang menyetujui proposal Direksi untuk me-relokasi dana hasil penawaran umum perdana (IPO) saham Indopoly. Persetujuan tersebut adalah mengenai perubahan penggunaan dana hasil IPO tersebut dari semula untuk investasi mesin BOPET menjadi untuk modal kerja. Adapun mesin BOPET sendiri akan dibiayai dengan fasilitas pinjaman berbunga rendah dengan pembayaran yang lebih panjang dari Unicredit Bank, A.G, Jerman. Indopoly’s extraordinary General Meeting of Shareholders gives consent to the Board of Director’s proposal to reallocate the proceeds from the Company’s Initial Public Offering (IPO). The reallocated proceeds is used to finance working capital instead of capital investment for BOPET machine. The BOPET machince is financed by a loan from Unicredit Bank, A.G, Germany with lower interst and longer repayment term.

Laporan Tahunan Laporan Indopoly Tahunan 2011 Indopoly 2011 8

8

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9


Peristiwa Penting 2011 Significant Events in 2011

31 Januari 2011 Pembukaan lini produksi Metalizing pertama di Purwakarta dengan kapasitas 7.000 ton/tahun. First Metalizing line is commissioned in Purwakarta, Indonesia with a capacity of 7,000 ton/year.

26 April 2011 Pembukaan lini produksi Extrusion Coating untuk film Thermal Lamination di Suzhou, Cina dengan kapasitas 5.900 ton/tahun. Extrusion coating unit for thermal lamination film is commissioned in Suzhou, China with a capacity of 5,900 ton/year.

10


Peristiwa Penting 2011 Significant Events in 2011

27 Juni 2011 Pembukaan lini produksi film BOPET pertama di Purwakarta, Indonesia dengan kapasitas produksi 20.000 ton/tahun. First BOPET line is commissioned in Purwakarta, Indonesia with a capacity of 20,000 ton/ year.

28 Juni 2011 Rapat Umum Pemegang Saham Tahunan dan Paparan Publik.

Annual General Meeting of Shareholders and Public Expose.


11

Pencapaian INDOPOLY INDOPOLY’s Achievements

PT Indopoly Swakarsa Industry Tbk.

H.M Sampoerna - Service Excellence Award 2011

AIB - Recognition of Accomplishment Food Safety Management

Djarum - Best Business Partner of the Year 2011

ISO 9001:2008 Quality Management System

Suzhou Kunlene Film Industries Co. Ltd.

AIB - Recognition of Accomplishment Food Safety Management

12


ISO 28001:2001 Occupational Health and Safety Management System

Yunnan Kunlene Film Industries Co. Ltd.


100 Star Enterprise Award 2000 - 2002

ISO 14001:2004 Environmental Management System

ISO 28001:2001 Occupational Health and Safety Management System

100 Star Enterprise Award 2003 - 2005


100 Star Enterprise Award 2006 - 2008.

ISO 14001:2004 Environmental Management System


13

Ikhtisar Keuangan Financial Highlights

*Notasi berikut disajikan dalam milyar Rupiah (kecuali disebutkan lain) Figure are presented in IDR billion (unless stated otherwise)

2011

2010

2009

Pendapatan

1,818

1,625

1,230

1,216

899

Sales

Laba Kotor

310

440

266

218

164

Gross Profit

Laba Usaha

124

278

107

86

66

Income from Operations

EBITDA

207

365

243

141

123

EBITDA

Laba tahun berjalan yang dapat diatribusikan kepada Pemilik Entitas Induk

50

170

93

46

31

Total Income attributable to Owner of the Parent Entity

Kas Bersih diperoleh dari Aktivasi Operasi

62

5

(110)

13

37

Net Cash Provided by Operating Activities

Jumlah Aset

2,620

2,219

1,692

1,710

1,019

Jumlah Liabilitas

1,471

1,123

1,382

1,187

788

39

34

29

29

20

Total Ekuitas yang dapat diatribusikan kepada Pemilik Entitas Induk

1,110

1,062

281

494

210

Total Equity attributable to Owner of the Parent Entity

Modal Kerja Bersih

(136)

142

(446)

(229)

(271)

Net Working Capital

Jumlah Pinjaman Bersih

1,111

662

884

913

553

Net Borrowings

Modal yang Digunakan

1,648

1,516

772

1,073

471

Capital Employed

458

232

162

523

17

Capital Expenditure

6,441

6,441

81

81

5

Issued Ordinary Shares (million)1

Kepentingan Non Pengendali

Jumlah Pengeluaran Barang Modal Saham Biasa yang Ditempatkan (Juta)1

2008

2007

Data per Saham (dalam jumlah penuh) Laba Bersih per Saham Dasar Nilai Buku per Saham

Total Assets Total Liabilities Non Controlling Interest

Per Share Data (in full amount) 8

34

52

121

316

172

214

157

1,299

2,117

Basic Earnings per Share Book Value per Share Financial Ratio(%)

Rasio Keuangan (%) 86

120

52

64

51

Current Ratio

56

51

82

69

77

Liabilities to Assets Ratio

100

62

315

185

263

EBITDA terhadap Net Interest Cover (Dalam Kelipatan)

4

6

4

3

3

EBITDA to Net Interest Cover (Times)

Pinjaman Bersih terhadap Aset

42

30

52

53

54

Net Borrowings to Assets

Imbal Hasil atas Aset

2

8

6

3

3

Return on Assets (ROA)

Imbal Hasil atas Penggunaan Modal

3

11

12

4

7

Return On Capital Employed

Imbal Hasil atas Ekuitas

5

16

33

9

15

Return on Equity (ROE)

Rasio Lancar Rasio Liabilitas terhadap Aset Pinjaman Bersih terhadap Ekuitas Bersih

1

14


Net Borrowings to Shareholders equity

Selama tahun 2011 jumlah waran yang dikonversikan sebesar 15.900 lembar saham. In 2011 total warrants converted to common stock amounted to 15,900 shares

Grafik Kinerja Keuangan

Financial Performance Graphs

Pendapatan Sales

Dalam milyar Rupiah In IDR billion Dinyatakan dalam standar Amerika Stated in American Standard

Laba Profit : Laba Bersih Net Income : Laba Usaha Income from Operations / EBIT

278

1,625 1,216

1,818

1,230

899

107 86

170

124

93

66 50 31 2007

2008

2009

2010

2011

Jumlah Ekuitas Total Shareholder’s Equity

1,062

2009

2008

2010

2011

Jumlah Aset Total Assets

2,620

1,110

494

2,219 1,710

1,692

2008

2009

1,019 281

210

2007

2007

46

2008

2009

2010

2011

2007

2010

2011


15

Ikhtisar Saham Stock Highlights

IPOL

IHSG (Poin)/ JCI (Point)

285 270 255

Harga Saham (IDR/Saham)/ Share Price (IDR/Share) -Ticker: IPOL

4,500 4,250 4,000

240 225 210 195 180 165

3,750 3,500 3,250 3,000 2,750 2,500 2,250

150 135 120

2,000 1,750 1,500 1,250

105 90 75

1,000

60 45 30 15

1/

IHSG/JCI

750 500 250

11 20

-

11 11 11 1 1 1 1 1 1 1 1 20 20 01 201 01 01 01 01 01 01 20 / / / 2 2 2 2 2 2 2 10 11 12 3/ 2/ 7/ 9/ 8/ 6/ 5/ 4/

Informasi Bursa Saham

Stock Market Information

- Kapitalisasi pasar Indopoly per akhir tahun 2011 adalah Rp 856 milyar. Saham Indopoly terdaftar di Bursa Efek Indonesia per tanggal 30 Desember 2011 sebanyak 6.440.516.680. Selama tahun 2011 jumlah waran yang dikonversikan sebesar 15.900 lembar saham.

- The market capitalization of Indopoly as of year-end 2011 was IDR 856 billion. A total of 6,440,516,680 shares of Indopoly were listed on the Indonesia Stock Exchange as of 30 December 2011. In 2011 total warrants converted to common stock amounted to 15,900 shares

- Jumlah saham yang diperdagangkan di tahun 2011 mencapai 6.793.787 saham, meningkat sebesar 49% dari 4.536.488 saham di tahun 2010.

- The total volume of shares traded in 2011 amounted to 6,793,787 shares, an increase of 49% from 4,536,488 shares in 2010.

- Saham Indopoly diperdagangkan dengan harga Rp 260 per saham pada pembukaan pasar tanggal 3 Januari 2011 dan ditutup diharga Rp 133 per saham pada penutupan pasar 30 Desember 2011. Tahun 2011 Indonesia Composite Index (ICI) dibuka pada 3.704,44 dan ditutup pada 3.821,99, meningkat sebanyak 3,17%.

- Indopoly shares opened at IDR 260 per share on the opening of market on 3 January 2011 and closed at IDR 133 per share at the close of market on 30 December 2011. In 2011 the Indonesia Composite Index (ICI) opened at 3,704.44 and closed at 3,821.99, an increase of 3.17%.

- Untuk keuangan tahun 2011, Indopoly membayar dividen berjumlah Rp 19 milyar, atau Rp 3 per saham. Ini menunjukkan rasio yang dibayar sebesar 9%.

- For financial year 2011, Indopoly paid-out dividends amounting to IDR 19 billion, or IDR 3 per share. This represented a pay-out ratio of 9%.

- Jumlah pemegang saham Indopoly yang terdaftar adalah 3.220 pemegang saham per tanggal 30 Desember 2011.

- The number of registered Indopoly shareholders was 3,220 shareholders as of 30 December 2011.

2010 Q1

Tertinggi Highest

Terendah Lowest

Penutupan Closing

-

-

-

2011 Volume (dalam ribuan) Volume (in thousand) -

Terendah Lowest

Penutupan Closing

Volume (dalam ribuan) Volume (in thousand)

265

183

189

1,180,189

Q2

-

-

-

235

185

215

2,436,660

Q3

310

165

198

1,506,847

230

145

155

2,783,715

Q4

310

198

260

3,029,641

170

127

133

393,224

Kurs Penutupan Closing Rate (IDR-USD)

9,460

8,844

8,991

9,460

8,418

9,068

Total

16


-

Tertinggi Highest

4,536,488

6,793,787

Ikhtisar Saham Stock Highlights

Struktur Pemegang Saham Shareholders Structure

JGH

NO

41.03%

23.16%

IPN

Publik Public

0.10%

35.71%

Perusahaan Company 89.24%

GPI 100%

100%

SKFI

YKFI

Keterangan Explanation: NO : JGH : IPN : GPI : YKFI : SKFI :

Noble Ox International Ltd. Jefflyne Golden Holdings Pte. Ltd. PT Inti Pincuranmas Nugraha Golden Polindo Industries Pte. Ltd. Yunnan Kunlene Film Industries Co. Ltd. Suzhou Kunlene Film Industries Co. Ltd.


17

Sambutan Presiden Komisaris Message from the President Commissioner

Para Pemegang Saham yang Terhormat

Dear Our Shareholders

Di Laporan Tahunan Perseroan yang lalu, kami menyampaikan dua tonggak sejarah yang dicapai Indopoly pada tahun 2010: pencatatan saham Perseroan di Bursa Efek Indonesia, dan peletakan batu pertama bagi instalasi lini produksi mutakhir Biaxially-Oriented Polyester (BOPET) yang meningkatkan kemampuan Perseroan untuk memproduksi film kemasan bermutu tinggi bagi pasar global.

In our last Annual Report, we spoke of two key milestones that Indopoly had achieved in 2010, the successful public listing of the Company, and the groundbreaking of our brand new, state-of-theart Biaxially-Oriented Polyester (BOPET) production line that had further strengthened our platform in producing high-end quality packaging films to the global market.

Berkat diversifikasi maupun penambahan lini produksi kami, Perseroan mampu melalui tahun 2011 dengan landasan yang kuat. Pada saat yang sama, pertumbuhan perekonomian Indonesia yang stabil selama beberapa tahun terakhir telah menambah jumlah masyarakat ekonomi menengah dan menengah ke atas. Perkembangan ini kian menumbuhkan permintaan akan produk konsumer makanan maupun non makanan fast moving yang membutuhkan materi kemasan bermutu tinggi.

Because of our product line extension and diversification, we were able to get off from 2011 on a solid footing. At the same time, Indonesia’s steady economic growth over the past several years has given rise to a growing number of middle and middleupper income groups. This has continued to stoke the demand for food and non-food fast moving consumer goods that require high-quality packaging materials.

Indopoly berada di posisi yang strategis untuk melayani pasar yang bergerak dan tumbuh pesat tersebut. Oleh karena itu, penjualan flexible packaging film Perseroan mampu memenuhi permintaan pasar. Total perputaran penjualan selama tahun 2011 meningkat sebesar 12% (dari tahun sebelumnya) menjadi Rp 1.818 milyar, ditunjang oleh upaya

Indopoly is strategically positioned to serve this growing, fast moving market; and therefore, our sales of flexible packaging films have been able to meet market demand. Total sales turn-over throughout 2011 increased by 12% year-on-year to IDR 1,818 billion as

18


Sambutan Presiden Komisaris Message from the President Commissioner

Perseroan memanfaatkan keunggulan geografis dari pengoperasian pabrik di Indonesia dan Cina. Di lain pihak, Dewan Komisaris juga menyadari tantangan yang dihadapi oleh tim manajemen sehubungan dengan pengoperasian lini produksi BOPET yang baru, fluktuasi yang tajam pada harga bahan baku, dan krisis ekonomi global bersama-sama turut mempengaruhi kinerja keuangan Perseroan. Laba bersih pada tahun 2011 mencapai Rp 50 milyar.

we continued to capitalize on the geographical spread of our production facilities in Indonesia and China. On the other hand, the Board of Commissioners also acknowledged struggles faced by the management team because of operational challenges from the new BOPET production line, rapid fluctuations of raw material price, and global economic crisis which together have significantly affected the Company’s financial performance. Thus net income only reached IDR 50 billion in year 2011.

Meskipun demikian, Dewan Komisaris tetap berpendapat bahwa pertumbuhan yang berkelanjutan di negara-negara berkembang akan terus memicu peningkatan permintaan untuk produk flexible packaging film. Hal ini mendukung prospek masa depan Indopoly sehubungan dengan pertumbuhan jangka panjangnya yang berkesinambungan. Selain itu, Perseroan akan terus berkomitmen untuk mengupayakan efisiensi biaya secara efektif sambil mengoptimalkan kinerja operasional dengan dukungan seluruh jajaran manajemen.

Nevertheless, the Board of Commissioners continues to support the view that continuing growth of emerging countries will fuel higher demand for flexible packaging film products. This bodes well for the future prospects of Indopoly in so far as our sustainable long-term growth is concerned. Also we will remain committed to pursuing the effective cost cutting while optimizing operational performance with the support of all the management team.

Dewan Komisaris dibantu oleh Komite Audit memantau kepengurusan Perseroan dengan cermat, dan memastikan bahwa manajemen mematuhi prinsipprinsip Good Corporate Governance (GCG). Penjabaran lebih rinci mengenai kebijakan corporate governance disajikan pada laporan ini mulai dari halaman 48.

The Board of Commissioners with the help of the Audit committee has exercised close supervision on the management of the Company, and to make sure that management adheres fully to the principles of Good Corporate Governance (GCG). A more detailed account on our corporate governance policies is laid out in this report, starting on page 48.

Kami mengucapkan terima kasih kepada jajaran manajemen, staff dan karyawan Indopoly atas kerja keras dan dedikasi mereka pada tahun 2011. Kami pun berterima kasih kepada para pemegang saham atas kepercayaan mereka yang berlanjut bagi Indopoly, serta kepada para pemangku kepentingan lainnya atas kerja sama dan dukungannya.

As always, we owe our gratitude to the Management, staff and employees of Indopoly for their tireless and dedicated efforts in 2011. We also thank our shareholders for their continuing trust in Indopoly, and to all other stakeholders for their valued cooperation and support.

Semoga Indopoly terus tumbuh sejahtera bersama para pemegang saham, pelanggan, karyawan dan masyarakat di lingkungan operasional Perseroan.

May Indopoly continue to grow and prosper alongside our shareholders, customers, employees and the communities in which we operate. With kind regards,

Felielyne Halim

3

1 2

1 Ryan Permana/Commissioner

Presiden Komisaris President Commissioner

2 Felielyne Halim/President Commissioner 3 Irawan Sastroanojo/Independent Commissioner


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Laporan Kepada Pemegang Saham Report to the Shareholders

20



Pemegang Saham yang Kami Hormati,

Dear Shareholders,

Memasuki tahun kedua sebagai Perseroan publik, kami bersyukur atas laju perkembangan Perseroan yang berhasil diraih pada tahun 2011. Investasi Perseroan di lini produksi BOPET yang baru memperkuat kepemimpinan Perseroan di industri flexible packaging film yang berteknologi tinggi.

Entering our second year as a publicly listed company, I am pleased at the pace of progress that we have achieved in 2011. Our investment in the new BOPET production line reinforces our leadership in the cutting-edge global flexible packaging film industry.

Pengoperasian lini produk BOPET yang baru merupakan bagian dari strategi diversifikasi Perseroan secara horizontal dengan menawarkan pilihan yang lebih beragam kepada basis pelanggan Perseroan yang terus berkembang. Pada tahun 2011, jumlah penjualan meningkat sebesar 12% menjadi Rp 1.818 milyar. Namun demikian, fluktuasi harga-harga bahan baku yang tajam telah mempengaruhi keberlanjutan marjin operasional sekaligus laba bersih Perseroan. Selain itu, proses pembelajaran pengoperasian lini produksi BOPET yang baru turut mempengaruhi efisiensi operasional perusahaan. Oleh sebab itu, Perseroan mencatat laba bersih sebesar Rp 50 milyar.

The introduction of new BOPET products forms part of our horizontal diversification strategy by offering more choices to our ever growing customer base. For yearend 2011, total revenues rose by 12% to IDR 1,818 billion. Even with this growth, the rapid fluctuations of raw materials prices have affected the sustainability of our margin as well as the bottom line. Additionally, steep learning curve on the new BOPET production line has affected the Company’s operational efficiency. As a result, the Company attained IDR 50 billion in net-income.

Bagaimanapun, kami yakin bahwa pengoperasian lini produksi BOPET akan menjadi landasan bagi pengembangan Perseroan di kemudian hari. Bahkan hal ini mencerminkan strategi Perseroan dalam melakukan investasi hanya pada peralatan produksi modern berteknologi tinggi, sambil terus mengembangkan sumber daya manusia Perseroan untuk pertumbuhan jangka panjang yang berkesinambungan.

Nonetheless, we are convinced that the commissioning of the BOPET production line will serve as our cornerstone to expand further in the future. In fact, this is a reflection of our strategy in investing only in state-of-the-art equipment and cutting-edge technology, while cultivating our human capital for long-term growth and sustainability.

Sekalipun tahun 2011 merupakan tahun pembelajaran, Perseroan terus menerapkan strategi bisnisnya berupa diversifikasi horizontal dan integrasi vertikal, disertai perluasan akses ke pasar global.

Although the year 2011 was a year of learning, we continue to execute our corporate strategy of both horizontal diversification and vertical integration, while at the same time acquire greater access to global markets.

Pengoperasian lini produksi BOPET telah mengembangkan cakupan produk film berkualitas tinggi dari Perseroan. Lini produksi ini menambah kapasitas produksi sebesar 25% menjadi 100.000 ton per tahun, yang semakin menegaskan reputasi Perseroan sebagai produsen flexible packaging film terkemuka di Asia Tenggara.

The commissioning of a brand new BOPET production line broadened our high-quality film product range. This production line increases our group’s production capacity by 25% to 100,000 tons per year which further recognize us as one of the reputable flexible packaging film manufacturers in South-East Asia.


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Integrasi secara vertikal telah ditingkatkan pada tahun 2011 dengan lebih menguatkan aliansi strategis dengan para pelaku utama di mata rantai industri ini, baik ke hulu maupun hilir. Salah satu aliansi tersebut adalah afiliasi Perseroan dengan salah satu perusahaan converter terbesar di Indonesia yang memproduksi serangkaian labeling maupun cetakan untuk kemasan yang dihasilkan dari film BOPP dan BOPET Perseroan. Integrasi ini menjamin keberlanjutan jangka panjang maupun keunggulan pangsa pasar Perseroan di pasar domestik yang terus tumbuh kembang.

Vertical integration was strengthened in 2011 as we tightened our strategic alliances with key players within the industry value chain, both upstream and downstream. One such alliance is our affiliation with one of the biggest local converter in Indonesia that produces a whole range of package labeling and printing from our BOPP and BOPET films. This integration ensures our long-term continuity and leadership in the ever growing domestic market.

Kantor pemasaran Indopoly terus mengupayakan terobosan di pasar Amerika Utara. Kesungguhan Perseroan dalam menembus pasar di luar negeri merupakan kunci keberhasilan maupun keberlanjutan Perseroan sebagai perusahaan multinasional. Keberadaan pabrik Perseroan di Indonesia dan Cina dewasa ini memberikan fleksibilitas pengiriman produk dari pabrik dengan biaya pengiriman yang lebih ringan untuk mencapai pasar tertentu. Lebih lanjut, tahun 2011 menunjukkan potensi pasar untuk kawasan Amerika Selatan. Perseroan memanfaatkan peluang tersebut dengan mengembangkan strategi untuk menembus pasar di Argentina dan sekitarnya.

Indopoly’s sales office continues to make headway in the North American markets. Our determination to penetrate offshore markets is key to our continuing growth and success to be a multinational company. Our manufacturing plants in Indonesia and China today enable us the flexibility to ship our products from whichever country with the least cost combination to penetrate certain markets. Further, the year 2011 saw potential in South American region. The Company realized this opportunity by developing further strategy to penetrate the market in Argentina and the surrounding countries.

Memasuki tahun 2012, kami berbesar hati bahwasanya Indonesia mampu bertahan terhadap badai krisis moneter dunia – yaitu pada tahun 2008 dan lebih dini lagi krisis hutang pemerintahan di negara-negara zona euro. Kami menghargai upaya Pemerintah Indonesia dalam menjaga kestabilan kondisi makroekonomi yang kuat sehingga sangat kondusif bagi pertumbuhan usaha. Perekonomian Indonesia tumbuh sebesar 6,5% pada tahun 2011 dan diperkirakan akan tumbuh lebih tinggi pada tahuntahun mendatang.

As we move into 2012, we are heartened by the fact that Indonesia has been able to weather the storm of financial crises - both in 2008 and more recently with the Eurozone sovereign debt crisis. We owe a great debt of gratitude to the Government of Indonesia for the way it has maintained a solid and stable macroeconomic conditions that are conducive to growth. The Indonesian economy grew at a rate of 6.4% in 2011 and is expected to grow even higher in the coming years.

Di pasar global kita pun berbesar hati dengan kenyataan demografis saat ini, sementara sebagian belahan dunia sedang mengalami resesi ekonomi, beberapa negara seperti Cina, India dan Indonesia tengah mengalami pertumbuhan ekonomi yang stabil berkat populasi mereka yang terus membaik secara sosial ekonomi (upwardly mobile).

On the global front we are also encouraged by the demographic facts that, while some parts of the world may encounter economic recessions, certain countries like China, India and Indonesia are experiencing steady economic growth due to their upwardly-mobile population.

22



Laporan Bank Dunia belum lama ini mengemukakan bahwa jumlah konsumer kelas menengah di ketiga negara tersebut telah berlipat ganda secara eksponensial sebanyak 10 kali lipat dalam satu dasawarsa terakhir.

Indeed, a recent World Bank Report cited that the number of middle-class consumers in these countries has multiplied exponentially by as much as 10 folds in less than a decade.

Konsumen kelas menengah dan menengah atas sangat menunjang pertumbuhan segmen consumer goods yang membutuhkan kemasan bermutu tinggi yang terus diproduksi dan ditingkatkan kualitasnya oleh Indopoly.

Middle and upper class consumers bode well for the growth of consumer goods that need high quality packaging that we continue to produce and improve.

Perseroan akan terus mempertajam daya saingnya dengan mengembangkan produk-produk high-end untuk melayani pasar ekslusif. Kegiatan penelitian dan pengembangan akan tetap menjadi landasan pertumbuhan Perseroan yang berkelanjutan melalui pengembangan dan inovasi produk. Hal ini mencakup produk-produk yang ramah lingkungan seiring dengan tujuan dari perekonomian berkarbon rendah.

We will continue to sharpen our competitiveness by developing high-end products for niche markets. Research and development activities will also remain to be the cornerstone of our sustainable growth through product development and innovation, which will include environmentally friendly products that are in line with the goals of the low-carbon economy.

Direksi, termasuk saya sendiri, tetap berkomitmen terhadap kepengurusan Perseroan secara hatihati dan sesuai dengan perundang-undangan dan peraturan yang berlaku disetiap negara di mana Indopoly beroperasi. Perseroan berkomitmen untuk menjunjung tinggi prinsip-prinsip transparansi, akuntabilitas, tanggung jawab, kemandirian dan kewajaran demi tercapainya good corporate governance. Komitmen tersebut juga diterapkan pada nilai-nilai maupun etos kerja Perseroan pada setiap lini organisasi.

The Board of Directors, including myself, remains fully committed to managing the Company prudently and in accordance with the prevailing laws and regulations of the countries in which Indopoly operates. We are also committed to upholding the principles of transparency, accountability, responsibility, independence and fairness in the interest of good corporate governance. Such commitment has been applied in the work values and in all organizational operations as well.

Sebagai penutup, kami mengucapkan terima kasih dari lubuk hati yang paling dalam kepada para pelanggan, mitra usaha, pemegang saham dan terutama sekali kepada segenap karyawan yang berhasil menghadapi tantangan kerja yang dituntut dari sebuah perusahaan terbuka dengan aspirasi dan tujuan-tujuan yang lebih tinggi.

As always, I extend my heartfelt appreciation to our customers, stakeholders, business partners, shareholders and especially to our employees who have risen well above the challenge of serving in a public company with higher goals and aspirations.

Yours Sincerely,

Henry Halim

Presiden Direktur President Director


23

24


Company Profile Susto exer sequi tet, quis acipisim dolobor sequip eum do dunt euis augait accumsan velit exer sum

Indopoly employs the best-practice verci eriuscil. Re dunt aliquat nit verilit lore creet standards of some of the quipsum incipit, sit voloreet ilit world’s nim ateUnt wisi. leading multinational companies


25

Profil Perusahaan Company Profile

26



Informasi Umum Perusahaan

General Information

PT Indopoly Swakarsa Industry Tbk telah terdaftar di Bursa Efek Indonesia pada tanggal 9 Juli 2010. Perseroan memiliki kapitalisasi pasar sebesar Rp 856 milyar per tanggal 31 Desember 2011.

PT Indopoly Swakarsa Industry Tbk is a publicly listed company, having successfully listed its shares on the Indonesia Stock Exchange on July 9, 2010. It has a market capitalization of IDR 856 billion as of 31 December 2011.

Perseroan merupakan salah satu pabrikan terbesar yang memproduksi flexible packaging film di Asia Tenggara, dengan dua pabrikan lainnya yang berlokasi di Cina. Lini produksi yang terletak di Kunming, propinsi Yunnan menjual sebanyak 100% dari kapasitasnya untuk pabrikan rokok di Cina. Sedangkan lini produksi yang terletak di Suzhou, propinsi Jiangsu menjual sebagian besar kapasitasnya untuk konsumen kelas atas yang umumnya bergerak di industri makanan dan minuman di Cina maupun negara lainnya.

The Company is one of the largest manufacturers of flexible packaging film products in Southeast Asia, with two of its manufacturing plants located in China. The plant in Kunming, Yunnan province sells 100% of its capacity to leading cigarette manufacturers in China. The plant in Suzhou, Jiangsu province sells most of its capacity to highend customers in the food-and beverage industry in China and elsewhere.

Sementara itu, pabrik Perseroan yang terletak di Indonesia memasok sekitar setengah dari kebutuhan kemasan film dari lima perusahaan rokok terbesar di Indonesia, berikut konsumen multinasional lainnya di lima benua.

Meanwhile, the Company’s plant in Indonesia supplies approximately half of the film packaging needs of the five largest cigarette manufacturers in Indonesia, in addition to those of various multinational clients in five continents.

Kesuksesan Indopoly yang diperoleh hingga saat ini didukung oleh banyak faktor termasuk diantaranya sebuah tim manajemen yang kuat dengan pengalaman selama lebih dari 30 tahun di industri ini, visi dari tim manajemen senior serta penggunaan teknologi termutakhir.

Indopoly owes its success to a combination of factors that include a strong management with over 30 years of experience in the industry, team brain power and the use of leading-edge technology.

Budaya inovatif juga ditanamkan secara mendalam di antara karyawan, didukung dengan lingkungan kerja yang positif menghasilkan produk-produk film berkualitas tinggi dan bertaraf Internasional.

An innovative culture is deeply instilled among the Company’s human capital, imbuing a strong sense of innovation in addition to constructive team work that produces high-quality film products of world class standard.

Indopoly bertujuan meningkatkan value para pemegang saham melalui pertumbuhan yang berkesinambungan dengan mengadopsi tiga strategi yaitu: melalui diversifikasi secara merata, intergrasi vertikal dan globalisasi.

Indopoly aims to increase stakeholder value through sustainable long-term growth by adopting a three-prong strategy: namely through horizontal diversification, vertical integration and globalization.

Tujuan ini dapat dicapai dengan didukung oleh visi ramah lingkungan (a green vision), dan melaksanakan program-program tanggung jawab sosial yang berkesinambungan.

It will achieve this goal by espousing a green vision, operating with an environmentally friendly regimen while undertaking continuous corporate social responsibilitiy program.


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Riwayat Perseroan: Perseroan didirikan dengan nama PT Indopoly Swakarsa Industry berdasarkan Akta Pendirian No. 114 tanggal 24 Maret 1995 di hadapan Benny Kristianto, S.H., Notaris di Jakarta yang kemudian diperbaiki dengan Akta No. 214 tanggal 26 Oktober 1995 dari notaris yang sama. Akta Pendirian berikut perubahannya telah memperoleh pengesahan dari Menteri Kehakiman Republik Indonesia berdasarkan surat keputusan No. C216943.HT.01.01.TH.95 tanggal 22 Desember 1995. Anggaran dasar Perseroan telah mengalami beberapa kali perubahan, yaitu dengan Akta Notaris No. 22 tanggal 9 Juli 2010 di hadapan Popie Savitri Martosuhardjo, S.H., Notaris di Jakarta sehubungan dengan penawaran umum terbatas Perseroan, dimana telah mendapat persetujuan Menteri Hukum dan HAM Republik Indonesia berdasarkan keputusan No. AHU-0058369.AH.01.09. Tahun 2010 tanggal 4 Agustus 2010. Anggaran dasar Perseroan terakhir kali dengan Akta Notaris No. 48 tanggal 21 Juli 2011 dan telah diterima dan dicatat dalam Menteri Hukum dan HAM Republik Indonesia berdasarkan surat No. AHU-AH.01.10-26897 dan AHU-AH.01.10-26898 tanggal 18 Agustus 2011.

Notes of Incorporation: The Company was established under the name of PT Indopoly Swakarsa Industry based on Articles of Association No. 114 dated 24 March1995 in the presence of Benny Kristianto, S.H., Notary in Jakarta, that was subsequently amended with Articles of Association No. 214 dated 26 October 1995 from the same Notary. The Articles of Association and their amendment have received the validation of the Justice Minister of the Republic of Indonesia pursuant to decision letter No. C2-16943.HT.01.01.TH.95 dated 22 December 1995. The Company’s Articles of Association have been amended several times thereafter, through Notarial Deed No. 22 dated 9 July 2010 in the presence of Popie Savitri Martosuhardjo, S.H., Notary in Jakarta, in connection with the rights issue of the Company, which has received the approval of the Minister of Justice and Human Rights of the Republic of Indonesia based on the decision letter No. AHU-0058369.AH.01.09. of 2010 dated 4 August 2010. The Company’s Articles of Association was last amended with Notarial Deed No. 48 dated 21 July 2011 and has been noted by the Minister of Justice and Human Rights of the Republic of Indonesia based on decision letter No. AHU-AH.01.10-26897 and AHU-AH.01.10-26898 dated 18 August 2011.

Golden Polindo Industries Pte. Ltd. (GPI) GPI didirikan pada tanggal 4 Oktober 1994 berdasarkan hukum Republik Singapura. GPI sebagai perusahaan induk dari dua anak perusahaan di Cina merupakan salah satu bagian dari strategi globalisasi Indopoly. Melalui GPI, Indopoly mampu mengembangkan bisnisnya menjadi salah satu bagian dari ekonomi dunia dengan memperkuat posisistrategisnya di daerah Asia yang sedang berkembang pesat.

Golden Polindo Industries Pte. Ltd. (GPI) GPI was incorporated on 4 October 1994 under the laws of the Republic of Singapore. GPI was formed to serve as the holding company of the two manufacturing subsidiaries in China that constitute part of the globalization strategy of Indopoly. Through GPI, Indopoly has been able to develop its business as part of the world economy while firmly planting a strategic foothold in the fast growing region of Asia.

Yunnan Kunlene Film Industries Co. Ltd. (YKFI) YKFI didirikan pada tanggal 15 Desember 1994 berdasarkan hukum Republik Rakyat Cina, berlokasi di Kunming Economic and Technological development Zone of Niujie Village. Pabrik YKFI di Kunming, propinsi Yunnan diresmikan di bulan Agustus 1996 dan beroperasi diatas lahan seluas 5,9 hektar Pabrikan ini mengoperasikan lini tunggal mesin pembuat film Brückner selebar 6,2 meter dengan kapasitas maksimum mencapai 10.000 ton per tahun.

Yunnan Kunlene Film Industries Co. Ltd. (YKFI) YKFI was incorporated on 15 December 1994 under the laws of the People’s Republic of China, located in the Kunming Economic and Technological Development Zone of Niujie Village. The YKFI Plant in Kunming, Yunnan province was commissioned in August 1996 and today operates on a 5.9-hectare site. The plant operates a single line Brückner film-making machine at a width of 6.2 meters and maximum annual capacity of 10,000 tons.

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Suzhou

Kunming

Dikarenakan letaknya yang strategis dekat dengan pabrikan-pabrikan tembakau utama Cina, 100% dari kapasitas YKFI didedikasikan untuk pembuatan film rokok.

Due to its strategic location near China’s main tobacco manufacturers, 100% of YKFI’s capacity is dedicated to produce tobacco film.

Suzhou Kunlene Film Industries Co. Ltd. (SKFI) SKFI didirikan pada tanggal 23 Desember 2001 berdasarkan hukum Republik Rakyat Cina, berlokasi di Suzhou Industrial Park di kota Suzhou, provinsi Jiangsu. Pabrik SKFI diresmikan di bulan Oktober 2003 diatas lahan seluas 9,5 hektar. Pabrikan ini mengoperasikan lini tunggal mesin pembuat film Brückner selebar 8,2 meter dengan kapasitas maksimum mencapai 25.000 ton per tahun.

Suzhou Kunlene Film Industries Co. Ltd. (SKFI) SKFI was incorporated on 23 December 2001 under the laws of the People’s Republic of China, located in the Suzhou Industrial Park in the city of Suzhou, Jiangsu province. The SKFI Plant was commissioned in October 2003 and today operates on a 9.5- hectare site. It operates a single line Brückner film-making machine of 8.2 meters width, with maximum annual capacity of 25,000 tons.

SKFI memproduksi produk-produk berkualitas tinggi menggunakan teknologi terkini dan terdepan dari Jerman. Produk-produk berkualitas tinggi ini digunakan dalam aplikasi kemasan terbaru untuk industri pertanian, farmasi maupun aplikasi kemasan baru lainnya.

SKFI produces special high-end film products using advanced, state-of-the-art technology from Germany. These high-end film products are mainly used in newer packaging applications in the agriculture and pharmaceutical industries as well as various other advanced packaging applications.


29

30


Operational Overview Rigorous quality assurance processes ensure that Indopoly meets the expectations of its highly discerning customers


31

Produksi Production

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Produksi Production

Teknologi Indopoly senantiasa memberi penekanan terhadap pentingnya investasi pada teknologi terkemuka dikelasnya dan tim manajemen yang kompeten guna memenuhi kebutuhan pelanggan akan produk flexible packaging film berkualitas tinggi. Filosofi ini memungkinkan Indopoly untuk memproduksi film-film bernilai tambah guna memenuhi tuntutan pasar serta menempatkan Indopoly sebagai produsen pilihan bagi produk-produk flexible packaging film bermutu tinggi.

Technology Indopoly has always placed a strong emphasis in investing only in best-in-class technologies and a competent management team to satisfy market demand for quality packaging films. This philosophy has enabled Indopoly to produce films that add value for our customers, in addition to positioning Indopoly as the manufacturer of choice for high-end packaging films.

Tim manajemen Perseroan sangat antusias untuk berinvestasi di mesin-mesin yang lebih baik dan cepat dengan keterpaduan yang lebih tinggi. Hal ini direalisasikan pada tahun 2011 melalui instalasi sebuah mesin BOPET, dua buah mesin metalizing dan sebuah unit extrusion coating untuk proses laminasi film. Keempat jenis mesin ini memenuhi tujuan Perseroan untuk bertindak proaktif dalam mengikuti perkembangan teknologi modern dan meningkatkan pelayanan bagi pelanggan global.

The Company’s management team is always eager to invest in better and faster machineries with greater integration. Such realization in 2011 was the installation of a BOPET machine, two metalizing machines and one extrusion coating unit for thermal film lamination. With these four new machines the Company has kept abreast of technological advances in the industry, thereby enabling it to better serve its global customers.

Dengan investasi yang terakhir ini, Indopoly mampu memproduksi film-film BOPP dan BOPET yang terdiferensiasi dengan berbagai karakteristik yang beragam, menawarkan variasi ketebalan yang berbeda hingga proses pelapisan untuk berbagai keperluan. Perbedaan pada karakteristik film dimungkinkan melalui variasi campuran formulasi, suhu proses produksi, dan rasio perenggangan (stretching ) yang semuanya terkendalikan secara otomatis melalui sistem komputerisasi.

With its latest investments, Indopoly is able to produce differentiated BOPP and BOPET films, with wide ranging characteristics that offer different thickness, barriers and coating processes. Differences in film characteristic are made possible through variations in the formulation mix, processing temperatures, and stretching ratios that are automatically controlled by computer systems.

Menggalang sinergi antara teknologi dan pengalaman lebih dari 30 tahun, Indopoly senantiasa berupaya untuk memenuhi permintaan yang terus bertumbuh dan berubah akan flexible packaging film berkualitas tinggi.

With the synergies that are derived from the combination of technology and some thirtyplus years of expertise in the business, Indopoly continues to forge ahead to meet the growing and ever-changing demands for quality packaging films.

Produk Tahun 2011 kembali mencatat keberhasilan bagi kelompok usaha Indopoly dengan dioperasikannya mesin Biaxially-Oriented Polyester (BOPET) baru. Lini produksi baru ini melengkapi keempat mesin Biaxially-Oriented Polypropylene (BOPP) Perseroan dan meningkatkan volume total kapasitas terpasang menjadi 100.000 ton per tahun.

Products The year 2011 marked yet another achievement for Indopoly group of companies as they successfully commissioned a new Biaxially-Oriented Polyester (BOPET) machine. The new line complements four existing Biaxially-Oriented Polypropylene (BOPP) machines, bringing our total installed capacity to 100,000 tons per annum.


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Produksi Production

Produksi film BOPET yang baru bersama-sama dengan produksi film BOPP yang telah ada memungkinkan Indopoly untuk menghasilkan produk-produk yang lebih beragam untuk pelanggan-pelanggan lokal maupun multinasional diberbagai penjuru dunia. Dengan implementasi lini produksi canggih, Perseroan memiliki kapasitas memproduksi film berkualitas tinggi dengan keragaman yang luas mulai dari film setipis 12 µ untuk aplikasi laminasi panas (thermal) hingga film setebal 50 µ sebagai bahan pelindung kemasan makanan dengan fisik maupun teknis lapisan yang berbeda-beda. Berbagai produk film ini memiliki multi-aplikasi yang mencakup namun tidak terbatas pada bahan-bahan kemasan untuk produk makanan maupun non makanan.

With both BOPET and BOPP film production capacities, Indopoly is now able to serve a much broader range of products for national as well as multinational companies across the world. With advanced production lines, the Company is able to produce a variety of high quality films ranging from as thin as 12 µ films for thermal lamination to 50 µ films for highbarrier fine food packaging with different physical and technical characteristics. These films have multiple applications including but not limited to packaging materials for food and non-food products.

Fasilitas dan Kapasitas Produksi Perseroan mengoperasikan tiga fasilitas produksi di Indonesia dan Cina. Dua fasilitas produksi pertama, masing-masing beroperasi di Purwakarta, Indonesia, dan Kunming, Cina, telah beroperasi sejak tahun 1996. Sedangkan fasilitas produksi ketiga yang berlokasi di Suzhou, Cina, mulai beroperasi pada tahun 2003. Sejalan dengan filosofi Perseroan, ketiga fasilitas tersebut dilengkapi dengan mesinmesin berteknologi mutakhir dengan kemampuan memproduksi film dengan tingkat kelebaran hingga 8,2 meter. Keseluruhan mesin dirancang oleh Brückner dari Jerman, salah satu pemasok lini produksi stretch film terkemuka dunia, sedangkan peralatan pendukung dikembangkan oleh Atlas dari Inggris. Perseroan terus menambah daya produksi terpasang di ketiga pabriknya secara bertahap dalam lima tahun terakhir:

Production Facilities and Capacities Indopoly operates a total of three production facilities located in Indonesia and China. The first two facilities were constructed in Purwakarta, Indonesia and Kunming, China, and both commenced operations in 1996. The third facility is located in Suzhou, China, and began operations in 2003. Consistent with the Company’s philosophy, these three facilities are well equipped with state-of-the-art machineries with the ability to produce up to 8.2 meter-wide films. All machines are designed by Brückner of Germany, one of the world’s leading manufacturers of stretchedfilm production lines; while supporting machineries are made by Atlas of England. Indopoly has gradually increased the total installed capacity of its three facilities during the past five years:

Pabrik/Factories

2007

2008

2009

2010

2011

Pabrik Purwakarta, Indonesia Purwakarta Factory, Indonesia

10,000

10,000

45,000

45,000

65,000

Pabrik Kunming, Cina Kunming Factory, China

25,000

25,000

25,000

25,000

25,000

Pabrik Suzhou, Cina Suzhou Factory, China

10,000

10,000

10,000

10,000

10,000

45,000

45,000

80,000

80,000

100,000

Total

Bahan Baku Bahan baku utama yang digunakan untuk memproduksi film BOPP terdiri dari Polypropylene Homopolymer, Propylene Copolymer/Terpolymer serta aditif; sedangkan bahan baku utama untuk produksi film BOPET adalah Chip Polyester dan aditif.

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Raw Materials The main raw materials used in the production of BOPP films are Polypropylene Homopolymer, Propylene Copolymer/Terpolymer as well as special additives; whereas the main raw materials used in the production of BOPET films are Polyesther Chips and additives.

Produksi Production

Keseluruhan bahan baku tersebut merupakan produk turunan dari produk minyak bumi dan gas alam. Oleh karenanya, perubahan pada harga minyak maupun gas memiliki dampak langsung terhadap harga-harga bahan baku tersebut selain perubahan yang terjadi pada permintaan dan pasokan global bahan baku itu sendiri. Untuk mengurangi risiko fluktuasi harga selain kelangkaan bahan baku, tim manajemen Indopoly membeli bahan baku Perseroan dari berbagai sumber pemasok di seluruh dunia. Dengan demikian, Indopoly memiliki fleksibilitas untuk membeli dengan harga dan kualitas terbaik.

These raw materials are derivative products of crude oil and natural gas. Consequently, changes in the market price of oil and gas have direct bearings on the price of these raw materials, aside from changes in the global supply-and-demand of the raw materials themselves. In order to mitigate the risk of market price volatility as well as raw materials shortage, Indopoly makes it a policy to source its raw materials from different suppliers around the world. In so doing, Indopoly has the flexibility to procure for the best price and quality.

Efisiensi Produksi Dengan tiga buah pabrik di Cina dan Indonesia, Indopoly memiliki manfaat sinergi operasional saat mana Perseroan mengoptimalkan marjin produksi diantara ketiga pabriknya di kedua negara. Pelajaran yang diperoleh di satu negara dapat dengan mudah dibagi dan dibandingkan dengan pengalaman di negara yang lain dalam rangka memaksimalkan produktifitas maupun efisiensi. Semua ini merupakan bagian dari efisiensi produksi yang terus dipacu melalui optimalisasi sumber daya, minimalisasi downtime dan pengurangan biaya produksi – sekaligus memanfaatkan sistim distribusi yang fleksibel karena mampu menyediakan produk ke pasar melalui jarak terdekat.

Production Efficiency With three factories in China and Indonesia, Indopoly enjoys the benefits of operational synergies to optimize production margins across three production units in two countries. Lessons learned in one country can be easily shared and compared with those of the other country in order to maximize productivity and efficiency. All this remains part of a broader production efficiency drive to optimize resources, minimize downtime and reduce the cost of production – while also benefitting from more flexible distribution system that can deliver products to markets via the shortest routes.

Pelestarian Lingkungan Indopoly sangat berkomitmen terhadap kelestarian lingkungan hidup yang berkelanjutan. Salah satu cara adalah dengan melihat ke proses produksi Perseroan itu sendiri. Masing-masing proses produksi film BOPP atau BOPET merupakan proses ekstrusi yang tidak menghasilkan limbah metal atau kimia. Proses ini secara fisik mengubah biji-biji plastik menjadi lembaran-lembaran plastik dengan cara menarik dan merenggangkan (stretching ) biji-biji plastik tersebut ke dua arah yang berbeda. Dengan demikian segala limbah padat yang dihasilkan dari proses ini dapat didaur ulang dengan menggunakan alat regranulasi. Maka sangat mungkin, dengan teknologi yang sungguh inovatif, untuk menjadikan proses produksi Perseroan sebagai proses dengan zero-waste secara keseluruhan.

Environment Sustainability Indopoly is deeply committed to creating environmental sustainability. One way is to look at the Company’s own production processes. Each of the BOPP or BOPET film production process is an extrusion process that does not produce metal or chemical residues. The process physically transforms plastic resins to film sheets by stretching the resins in two different directions. As such, any solid wastes incurred from the process can be recycled using the regranulation equipment. It is therefore possible, with a truly innovative technology, to make our production process a completely zero-waste process.

Pembelanjaan Modal Pada Laporan Tahunan 2010, Perseroan melaporkan pembelanjaan modal yang signifikan dengan menambah lini produksi BOPET serta tiga jenis mesin pemberi nilai-tambah. Perseroan melaporkan bahwa proses pemasangan dan produksi komersial dari mesin-mesin tersebut telah berhasil dilaksanakan dengan baik.

Capital Expenditure In the 2010 Annual Report, the Company reported a considerable capital investment by adding a new BOPET production line as well as three added-value machineries. The Company is pleased to report that the installation and commercial production of the machineries were all implemented very well.


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Kinerja Pemasaran Marketing and Sales Overview

Strategi marketing Indopoly menargetkan segmen industri dan pelanggan yang membutuhkan produk film dengan spesifikasi yang tinggi. Perseroan terus meningkatkan teknologi produksi untuk menghasilkan produk-produk yang sulit diproduksi oleh para pesaing. Jenis produk yang beragam memudahkan Perseroan untuk menjangkau segmen pasar yang lebih luas di seluruh dunia. Ditambah dengan adanya lini PET film terbaru serta dua lini metalized film, memungkinkan Perseroan untuk menghasilkan berbagai produk sesuai dengan kebutuhan pasar. Keberhasilan akan strategi ini tercermin dari penjualan di tahun 2011 dimana penjualan meningkat hingga 12% menjadi Rp 1.818 milyar. Indopoly memahami bahwasanya melayani pelanggan merupakan kunci dari kesuksesan Perseroan yang berkesinambungan. Usaha Perseroan dalam memenuhi kepuasan pelanggan secara maksimal menjadi faktor penting yang membedakan Indopoly dengan yang lainnya. Pencapaian tahun ini sangat memuaskan. Indopoly mendapat penghargaan Service Excellence Award 2011 oleh H.M. Sampoerna. Indopoly juga ditunjuk menjadi Best Business Partner 2011 oleh Djarum.

Indopoly’s marketing strategy targets industry segments and customers that require film products with high specifications. The Company continues to raise higher technical barriers for our competitors by creating and selling high end products that are difficult to produce. Product differentiation and diversification allows us to capture a broader market segment worldwide. Furthermore, the addition of our new PET film line as well as two metalized film lines gives us more options to produce value added products to serve high end film markets. The success of this strategy is reflected in our sales performance for 2011. Indopoly’s net sales in 2011 grew by 12% to IDR1,818 billion. At Indopoly, we understand that providing customer service is key to our continued success. Our efforts in providing maximum customer satisfaction are an indispensable factor in differentiating the Company from its competitors. The results have been outstanding this year. Indopoly was awarded the Service Excellence Award 2011 by H.M. Sampoerna. We were also selected by Djarum as Best Business Partner of the year 2011.

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Kinerja Pemasaran Marketing and Sales Overview

Indopoly melihat masih banyak kesempatan besar dalam pertumbuhan industri flexible packaging.

Indopoly believes that there is still huge room for growth in the flexible packaging industry.

Indopoly melihat masih banyak kesempatan besar dalam pertumbuhan industri flexible packaging. Di negara-negara berkembang di Asia, Indopoly meninjau pertumbuhan penduduk perkotaan sebesar 20% pada 10 tahun belakangan ini. Diperkirakan pula kelas menengah atas akan terus tumbuh di masa datang, yang mana hal ini akan meningkatkan permintaan kebutuhan untuk kemasan atas barangbarang kebutuhan sehari-hari. Pertumbuhan ini diperkirkaran dapat meningkatkan kebutuhan akan flexible dan specialty packaging films hingga 7 – 10% di seluruh Asia, yang mana sebagian besar datang dari permintaan di sektor produk untuk kemasan makanan. Indopoly percaya bahwa faktor-faktor tersebut menunjukkan bahwa industri flexible packaging semakin tumbuh berkesinambungan dalam jangka panjang serta memiliki kesempatan yang luas untuk terus berkembang.

Indopoly believes that there is still huge room for growth in the flexible packaging industry. In emerging countries in Asia, we can observe a 20% growth in urban population in the last ten years. Furthermore, the middle to high income population is still expected to be growing at a respectable rate for the foreseeable future, which translates to increased demand for packaged consumer goods. It is estimated that this socio-demographic segment will fuel higher demand for sales of flexible and specialty packaging films by seven to ten percent across Asia, with food packaging providing the biggest opportunity. Indopoly is confident that these factors mean that the flexible packaging industry is sustainable in the long run and that there are still numerous opportunities for growth.


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Penelitian dan Pengembangan Research and Development

Jaminan Kualitas Dalam rangka untuk menjamin dan menjaga standar kualitas tinggi produk-produknya, Indopoly memastikan semua proses pembuatan film dipantau oleh tim Quality Assurance (QA) yang terlatih, mulai dari bahan baku hingga produk akhir. Pengambilan sampel dan pemantauan dimulai dari inspeksi bahan baku yang digunakan, dimana indeks aliran lelehan dianalisa secara kontinu pada penerimaan bahan baku dan saat berada di gudang penyimpanan secara berkala. Pemantauan dilakukan lebih lanjut sepanjang proses pencampuran bahan, ekstrusi (cetak leleh) dan penarikan secara dua arah, semua sifat film akan diuji untuk mempertahankan kualitas secara fisik, kimia, dan visualnya, baik dalam bentuk rol setengah jadi maupun bentuk produk akhir. Tim QA Indopoly mematuhi prosedur-prosedur analisis sesuai standar American Standard Testing Methods (ASTM) dan juga dari standar internasional lainnya. Hal ini dilakukan untuk memastikan bahwa kualitas produk Indopoly sesuai dengan kebutuhan pelanggan. Perseroan memiliki serifikat ISO 9001:2008, dimana produkproduknya juga telah memiliki sertifikat dari American Institute of Baking (AIB). Dengan adanya sertifikasi dari AIB, produk-produk Indopoly, dari segi keamanan material, proses dan fasilitas manufaktur, dinyatakan aman dan dapat digunakan untuk kemasan makanan. Quality Assurance In order to ensure and maintain the high quality standards of our products, Indopoly makes sure that all film-making processes, starting from raw materials to the finish goods, are monitored by our well-trained Quality Assurance (QA) personnel. Sampling and monitoring begin with the raw materials inspection, in which the melt flow index is constantly scrutinized during the incoming stage, and periodically at the storage warehouse. Subsequently, throughout the material mixing, extrusion (melt casting), and biaxial stretching, the film property is tested - for both the intermediate rolls and finished goods – for consistency in their physical, chemical, and visual properties. Our QA team adheres to the testing procedures of the American Standard Testing Methods (ASTM) as well as other international standards. This will ensure that the product quality meets the customer needs. The Company is certified for ISO 9001:2008, whereas our products are also certified by the American Institute of Baking (AIB). The AIB certification allows the use of our products for food packaging in terms of the use of safety materials, processes and manufacturing facilities.

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Penelitian dan Pengembangan Research and Development

Menjamin dan menjaga kualitas produk sesuai dengan kebutuhan pelanggan Ensure and maintain the product quality to meet the customer needs

Inovasi Tim Penelitian dan Pengembangan Indopoly, bekerja sama dengan tim QA, terus berusaha untuk menghasilkan produk-produk dengan kualitas yang lebih baik, disertai dengan efisiensi biaya agar dapat terus bersaing di pasar kemasan fleksibel yang terus berkembang dan agar dapat memuaskan pelanggan dengan produk-produk Indopoly yang berkualitas.

Innovation Our Research and Development team, in collaboration with the QA team, continues to strive for better product quality with higher cost efficiency in order to compete in the growing flexible packaging market and to satisfy our customers with our quality products.

Di tahun 2011, Indopoly juga memuktahirkan laboratorium dengan menambahkan beberapa alatalat berteknologi tinggi untuk mendukung evaluasi pengembangan produk-produk baru.

In 2011, we also enhanced our laboratory capabilities by adding several new high-tech instruments to support the evaluation of new product development.

Saat ini Indopoly memiliki instrumen untuk mengukur Laju Transmisi Uap Air (MVTR) dan Laju Transmisi Gas Oksigen (O2TR) dari produk-produk highbarrier metalized film. Selain itu, Indopoly memiliki mesin uji degradasi yang dapat digunakan untuk mensimulasikan penguraian film oxo-biodegradable. Evaluasi yang biasanya menghabiskan waktu berbulan-bulan dapat disimulasikan dalam beberapa hari dengan mesin terbaru ini. Beberapa instrumen laboratorium juga telah diperbaharui agar dapat meningkatkan akurasi dalam menganalisa sampelsampel.

Today, Indopoly has the instruments to measure Moisture Vapor Transmission Rate (MVTR) and Oxygen Transmission Rate (O2TR) of our new high-barrier metalized film products. Furthermore, our brand-new weathering test machine can be used to simulate the degradation of oxo-biodegradable films. Months of evaluation time can be simulated by only a few days in this weathering test machine. Several laboratory instruments also have been upgraded in order to increase the analysis accuracy of all samples.


39

Sumber Daya Manusia Human Resources

Sebagai perusahaan yang sangat mengandalkan teknologi tingkat tinggi untuk menghasilkan produkproduk berkualitas tinggi, peran dari sumber daya manusia menjadi hal yang amat penting. Pasar film kemasan premium masih menjanjikan potensi pertumbuhan yang signifikan untuk sebuah perusahaan seperti Indopoly dengan sumber daya manusianya yang terlatih dan profesional. Pada intinya, individu yang terlatih dengan baik akan lebih terlibat dan bertanggung jawab atas pekerjaannya, dan senantiasa memandang ke depan dan berupaya meningkatkan kontribusi mereka terhadap Perseroan maupun sesama rekan kerja.

As a company that relies heavily on high-end technology to manufacture high-quality products, the role of human capital is of utmost importance. The premium packaging film market still holds significant growth potential for a company such as Indopoly with its highly trained and professional human capital. Ultimately, a well-trained individual will be more involved in, and accountable for his/her duties, and will always look forward to how he/she can increase their contribution to the Company and their colleagues at work.

Pendekatan kami yang menyeluruh terhadap sumber daya manusia dimulai dari saat merekrut hingga pengembangan, pembimbingan dan retensi, dimana semua ini dilakukan secara cermat dengan pemahaman bahwa hal itu dapat mendukung visi Perseroan untuk menjadi produsen kemasan film bermutu tinggi yang kompetitif di Asia Tenggara.

Our holistic approach to human capital development starts from recruitment to development, counseling and retention, all of which are undertaken rigorously with the key understanding that all this will support the Company’s vision to be a competitive producer of highend packaging film in Southeast Asia.

Di tahun 2011, sesuai rencana, Indopoly menyelesaikan fase pengembangan Human Resources Information System (HRIS), yang telah memungkinkan Perseroan untuk meningkatkan pengelolaan sumber daya manusia melalui pengadaan maupun penyebaran informasi dan data terkait secara lebih efisien.

In 2011, as planned, Indopoly completed the development phase of the Human Resources Information System (HRIS), which has since enabled the Company to enhance its human capital management through better information and data mining and dissemination.

Untuk setiap posisi, Key Performance Indicator (KPI) telah ditentukan berikut profil kompetensi untuk setiap individu dengan menggunakan standar tolok ukur yang jelas guna mengevaluasi kinerja setiap individu.

For every position, a key performance indicator (KPI) is established and a competency profile is drawn up for each individual using clear standards and measurements to assess their performances.

Program-program pelatihan dan pengembangan Perseroan telah disesuaikan dengan gap analysis antara KPI dan kompetensi yang dibutuhkan pada setiap pekerjaan.

Our Training and Development (T&D) programs are aligned with the gap analysis between the KPIs and required competencies for the job at hand.

40


Sumber Daya Manusia Human Resources

Lebih dari itu, Indopoly menempatkan individu berpotensi tinggi dalam program pengembangan jalur cepat, melengkapi kemampuan dari para individu tersebut dengan keahlian bisnis maupun kepemimpinan multikultural selain juga membantu mereka menjadi akrab dengan kemajuan teknologi dalam skala global. Hal ini sangat mendukung visi Perseroan dalam hal integrasi vertikal, diversifikasi horizontal sekaligus juga strategi globalisasi.

Furthermore, Indopoly places high potential individuals in a fast-track development program, develops the capabilities of these individuals in multicultural leadership and business skills, and helps them to be familiar with technological developments on a global scale, These programs fully support the vision of the Company in vertical integration, horizontal diversification as well as globalization strategy.

Di Indopoly, kami memahami bahwa pengembangan sumber daya manusia merupakan kepentingan segenap pihak dan harus diupayakan terus menerus dan secara konsisten.

At Indopoly, we understand that human capital development is everyone’s business and must be pursued constantly and consistently.

Dengan fasilitas produksi di Indonesia maupun Cina, Indopoly mampu untuk bertukar keahlian maupun pengalaman untuk memperoleh yang terbaik dari kedua negara. Hal ini memungkinkan Indopoly untuk menjadi terdepan dalam mengupayakan peluang pasar maupun pengembangan usaha.

With manufacturing facilities in Indonesia and China, Indopoly is able to share expertise and experience in order to obtain the best of different worlds. This has enabled Indopoly to stay abreast of market opportunities and development.

Semua ini merupakan kerangka utama yang melandasi upaya Indopoly untuk menggalang potensi sumber daya manusianya secara maksimal, untuk memproduksi produk-produk berkualitas tinggi sebagai upaya berkelanjutan untuk mempertahankan kepemimpinan pasar dalam rangka mencapai pertumbuhan jangka panjang yang berkesinambungan.

These are the cornerstones by which Indopoly aims to harness the full potential of its human capital to produce high quality products in its constant efforts to retain market leadership and sustain long-term growth of the Company.

Pandangan 2012 Dengan telah berfungsinya HRIS, Indopoly memiliki peluang besar untuk mengelola pengembangan sumber daya manusia secara lebih efektif dan strategis demi kepentingan Perseroan dan para pemangku kepentingan utama. Ini akan mencakup implementasi sistem pengelolaan performa sejalan dengan model profil kompetensi yang tengah dikembangkan pada setiap lini organisasi. Didukung oleh HRIS yang andal, sumber daya manusia Indopoly dapat meraih standar kelas dunia dari segi profesionalisme, dan menjadi keunggulan kompetitif yang kokoh bagi Perseroan guna mencapai pertumbuhan yang berkesinambungan di tahun 2012 dan seterusnya.

2012 Outlook With the onset of the HRIS, opportunities abound for Indopoly to manage human capital development much more effectively and strategically in the interest of the Company and its immediate stakeholders. This includes implementation of performance management system hand-in-hand with competency profiling model within all levels of organization. Supported by adequate HRIS, Indopoly’s human capital would reach unto world-class standards of professionalism, and becoming a solid competitive advantage for the Company to achieve sustainable growth in 2012 and beyond.


41

Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility

Tanggung Jawab Sosial Perusahaan Indopoly berkomitmen untuk menjalankan Tanggung Jawab Sosial Perusahaan (CSR) di area di mana Perseroan beroperasi dengan melindungi dan memelihara lingkungan, sekaligus menjaga hubungan baik dengan pemangku kepentingan Perseroan. Di tahun 2011, beberapa program CSR Indopoly termasuk diantaranya menjalin kebersamaan dengan komunitas anak muda lokal, inisiatif penanaman pohon dan beasiswa bagi anak-anak sekolah dasar yang membutuhkan. Membuat Pupuk Organik Sebagai bagian dari program CSR dan bentuk kepedulian terhadap lingkungan, Indopoly mengadakan program pelatihan dan pembuatan kompos cair kepada komunitaskomunitas di desa Kamojing, Cikampek, tidak jauh dari pabrik Perseroan di Purwakarta. Kompos cair terbuat dari sisa bahan organik yang berasal dari buangan makanan dapur. Prosesnya sendiri sangat mudah dan murah untuk dilakukan, dimana yang dibutuhkan hanyalah sisa-sisa dari buangan makanan dapur seharihari dan alat yang sederhana (wadah kompos) yang akan mengurai sisa organik menjadi kompos.

Corporate Social Responsibility Indopoly is committed to partake in its Corporate Social Responsibility (CSR) in ways that benefit the communities where the Company operates, protect and enhance the environment, in addition to fostering good relations with all of the Company’s stakeholders. In 2011, some of Indopoly’s CSR programs include active engagements with the local youth community, a tree-planting initiative, and a scholarship program for deserving elementary school students. Making Organic Fertilizers As part of the Company’s CSR program and care for the environment, Indopoly has undertaken a training program for the production of liquid compost for members of the communities at Kamojing Village, Cikampek, not far from the Company’s factory in Purwakarta. Liquid compost is made from organic wastes that come from households on a daily basis. The process itself is easy and cheap to undertake since it only requires the collection of those household wastes, and a simple tool (the composting container) that transforms the organic wastes into composts.

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Kompos ini digunakan sebagai pupuk organik yang dapat dijual dengan harga yang cukup tinggi ke petanipetani lokal di daerah itu.

These composts are used as organic fertilizers that can be sold at reasonably high value to local farmers in the area.

Program pelatihan ini dihadiri lebih dari 80 anak muda dari berbagai desa yang semuanya sangat berantusias dalam melihat potensi keuntungan secara ekonomi dalam pembuatan kompos. Dalam acara ini, Perseroan menyumbangkan tiga peralatan pengolahan kompos bagi peserta training untuk memulai usaha mereka di industri tersebut.

The training program was attended by more than 80 village youths, all of whom were enthusiastic about the potential economic benefit from the manufacture of these composts. On this occasion, the Company donated three composting equipment to these youths to start with their composting business.

Selain keuntungan ekonomi yang dapat diperoleh, program pelatihan seperti ini juga dapat membantu mengedukasikan komunitas tentang bagaimana cara melestarikan lingkungan mereka dan mengolah sampah sisa buangan menjadi sesuatu yang lebih bermanfaat.

In addition to the obvious economic benefits, training programs such as these help educate communities on how to protect their environment and recycle wastes for alternative purposes.

Program ini juga merupakan bagian dari usaha Perseroan yang terus menerus membangun hubungan yang baik dengan masyarakat sekitar.

The program is also part of the Company’s sustainable efforts to foster good relations with members of the surrounding communities.


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Kepedulian Terhadap Lingkungan Melanjutkan program CSR tahun 2010 yang lalu, di mana Indopoly telah menanam sebanyak 2.000 pohon di desa Kamojing, Jawa Barat, dengan tujuan melestarikan sumber mata air di desa tersebut yang telah lama dikenal akan sumber air bersihnya. Di tahun 2011 ini, Indopoly memastikan tujuan ini tidak menjadi sia-sia dan tetap memperhatikan pertumbuhan 2.000 pohon tersebut. Kegiatan pemeliharaan ini meliputi melindungi tanaman tersebut dari penyakit dan penyiangan dari daun mati, penggunaan pestisida dan pupuk, termasuk menggantikan pohon-pohon yang tidak dapat tumbuh dengan baik.

Caring for Our Environment In continuity of its CSR program in 2010, whereby Indopoly planted 2,000 trees in the village of Kamojing, West Java, with the aim of preserving the water springs in the village that has long been known for its clean water source. In 2011, Indopoly made sure that this initiative would not be in vain and undertook measures to nurture the growth of those 2,000 trees. This nurturing comprised of protection against diseases, weeding out of dead leaves, application of pesticides and fertilizers, and the replacement of trees that failed to grow properly.

Sebagai bagian dari komitmen Perseroan untuk meningkatkan kepedulian masyarakat dalam pelestarian dan perlindungan akan lingkungan yang lebih sehat, Indopoly berpartisipasi dalam kampanye yang bertujuan untuk menanam kepedulian terhadap lingkungan. Salah satu bentuk partisipasi adalah dengan berkontribusi dalam pengadaan tong sampah yang disebarkan di sepanjang jalan protokol di Purwakarta, Jawa Barat.

As part of the Company’s commitment to enhance public awareness for the preservation and protection of a healthy environment, Indopoly participated in a campaign to instill care for the environment, among others by contributing waste bins placed along the main street of Purwakarta, West Java.

Mendukung Pendidikan untuk Anak-Anak Selain program lingkungan, Perseroan juga aktif berpartisipasi dalam program pendidikan sekolah dasar kepada murid-murid yang berprestasi namun tidak mampu untuk melanjutkan pendidikan ke jenjang yang lebih tinggi. Sebagian murid-murid ini merupakan penduduk setempat di mana pabrik Indopoly beroperasi.

Supporting Education for Children In addition to environmental programs, the Company is also active in supporting educational program for elementary school students with scholastic excellence but could not afford to go to school. These students live in the surrounding areas where Indopoly operates.

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Perseroan juga memberikan sumbangan buku ke perpustakaan sekolah. Sebanyak 434 buku telah disumbangkan sepanjang tahun 2011.

In addition, the Company donates books to school libraries. A total of 434 books were donated in 2011.

Indopoly menyadari bahwa pendidikan yang baik merupakan landasan masa depan suatu negara, oleh karena itu, Indopoly berkomitmen untuk terus berpartisipasi dalam program pendidikan.

Indopoly recognizes that proper education is the cornerstone of the future of the nation, and has therefore remained committed to its educational support.

Membantu Palang Merah Indonesia Perseroan tak hentinya mendorong karyawannya untuk terus berpartisipasi dalam kegiatan sosial. Salah satunya adalah pelaksanaan program donor darah secara berkala. Pada tahun 2011, karyawan Perseroan mendonorkan darah mereka kepada Palang Merah Indonesia sebanyak empat kali di sepanjang tahun 2011 yaitu pada bulan Januari, April, Juli dan Oktober.

Helping the Indonesian Red Cross The Company continued to encourage the employees’ participation for its social activities. One of its activities is by undertaking a routine blood donor program which involves its employees. In 2011, the Company’s employees donated their blood to the Indonesian Red Cross on four separate occasions throughout the year in January, April, July, and October.

Perseroan akan terus menjalankan program-program CSR di tahun-tahun ke depan, dan diharapkan dapat memberikan kontribusi yang optimal kepada kesejahteraan masyarakat dan pelestarian lingkungan.

Such CSR program will be continously undertaken by the Company in the years to come, and is expected to provide optimum contribution to the welfare of the society and the preservation of the environment.


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Good Corporate Governance Well-kept machineries and adherence to protocols and standard operating procedures make Indopoly a well-managed company that faithfully follows the principles of Good Corporate Governance


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Tata Kelola Perusahaan Good Corporate Governance

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Grup perusahaan Indopoly per akhir tahun 2011 memiliki empat perusahaan yang beroperasi di dua negara. PT Indopoly Swakarsa Industry Tbk. (“Indopoly” atau “Perseroan”) yang merupakan perusahaan induk di grup ini, adalah perseroan terbatas Indonesia dan telah terdaftar di Bursa Efek Indonesia (BEI).

The Indopoly Group of Companies at end of 2011 is comprised of four companies operating in two countries. The parent company of the Group is PT Indopoly Swakarsa Industry Tbk. (“Indopoly” or “the Company”), a publicly-held Indonesian limited liability company. Its shares are listed on the Indonesia Stock Exchange (IDX).

Tata kelola Indopoly mengacu pada hukum perseroan terbatas Republik Indonesia, serta peraturan dan regulasi dari BEI, the Indonesian National Code of Corporate Governance, dan juga peraturan hukum yang berlaku di Indonesia dan di negara di mana Perseroan beroperasi.

Indopoly is governed by the Limited Liability Companies Law of the Republic of Indonesia, the listing rules and regulations of IDX, the Indonesian National Code of Corporate Governance, as well as prevailing laws and regulations in Indonesia and in foreign countries where the Company operates.

Dewan Komisaris Dewan Komisaris bertanggung jawab dalam mengawasi kebijakan manajemen, pelaksanaan keputusan manajemen secara umum, baik mengenai Perseroan ataupun bisnis itu sendiri, serta memberikan saran secara independen kepada Direksi. Setiap anggota Dewan Komisaris harus bertindak dengan itikad baik dan memiliki tanggung jawab dalam tugasnya sebagai pengawas serta memberikan saran ke Direksi sesuai dengan maksud dan tujuan Perseroan.

Board of Commissioners The Board of Commissioners is responsible for supervising the management policies, the implementation of management decision in general, either regarding the Company or its business, and provides independent advice to the Board of Directors. Each member of the Board of Commissioners is obliged to act in good faith in performing his/her responsibilities for the sole interest of the Company in accordance with the Company’s purpose and objectives.

Dewan Komisaris juga bertanggung jawab dalam menentukan paket remunerasi untuk setiap anggota Komisaris dan Direksi. Jumlah remunerasi yang diterima oleh anggota Dewan Komisaris dan Direksi dalam segi keuangan pada tahun 2011 ditampilkan di judul yang berbeda di di halaman 50 Laporan Tahunan ini.

The Board of Commissioners is also responsible for determining the remuneration packages for each Commissioner and Director. The amounts of remuneration received by the members of the Board of Commissioners and Directors in financial year 2011 are presented in a separate heading on page 50 of this report.

Per tanggal 31 Desember 2011, Dewan Komisaris beranggotakan tiga orang yang terdiri dari Presiden Komisaris, Komisaris dan Komisaris Independen. Profil masing-masing anggota Komisaris disajikan pada halaman 70 dalam Laporan Tahunan ini.

As of 31 December 2011, the Board of Commissioners is made up of three Commissioners consisting of the President Commissioner, a Commissioner, and an Independent Commissioner. The profiles of each Commissioner are presented on page 70 of this Annual Report.

Direksi Direksi bertanggung jawab penuh mengelola Perseroan untuk kepentingan Perseroan dalam mencapai maksud dan tujuannya. Setiap anggota Direksi harus bertindak dengan itikad baik dan bertanggung jawab terhadap tugastugasnya dengan mematuhi hukum, sesuai dengan peraturan dan ketentuan yang berlaku serta menerapkan prinsip-prinsip Tata Kelola Perusahaan yang baik.

Board of Directors The Board of Directors is fully responsible for managing the Company in the interest of pursuing its goals and objectives. Each member of the Board of Directors is obliged to act in good faith and has a responsibility to his/her duties in a lawabiding manner, in accordance with all prevailing rules and regulations and adhering fully to the principles of Good Corporate Governance.

Presiden Direktur adalah pemimpin Perseroan dengan dibantu oleh lima anggota Direksi dalam mengelola usaha Perseroan.

The President Director is the leader of the Company’s management team who is assisted by five other Directors in managing the Company’s operations.


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Di bawah ini merupakan tugas dan tanggung jawab utama dari anggota Direksi.

The following brief sets forth the main duties and responsibilities of the respective Directors.

Presiden Direktur utamanya bertanggung jawab untuk memimpin, mengarahkan, mengkoordinasi dan mengontrol jalannya Perseroan berkenaan dengan pelaksanaan peraturan dan strategi Perseroan dalam mencapai cita-cita, visi dan misi yang telah disebutkan sebelumnya. Presiden Direktur juga memastikan bahwa tujuan jangka panjang Perseroan dapat tercapai dan fungsi dari pengawasan internal serta risiko manajemen dapat dijalankan dengan baik.

The President Director is primarily responsible for leading, directing, coordinating and controlling the course of the Company with respect to the execution of Company policies and strategies towards its stated goals, mission and vision. The President Director also ensures that the Company achieves its long term goal and that the functions of internal control and risk management are adequately carried out.

Direktur Komersial dan Operasional umumnya bertanggung jawab dalam merencanakan, merumuskan, mengarahkan, mengkoordinasikan dan mengawasi jalannya kebijakan dan kegiatan di bidang komersial (pemasaran dan pembelian) dan operasional (mencakup sumber daya manusia dan pabrikan).

The Director of Commerce and Operations is mainly responsible for the planning, formulating, directing, coordinating and controlling of the Company’s policies and activities in the areas of commerce (marketing and purchasing) and operations (including manufacturing and human resources).

Direktur Penelitian dan Pengembangan umumnya bertanggung jawab dalam merumuskan, mengarahkan, mengkoordinasikan dan mengawasi jalannya kebijakan dan kegiatan Perseroan di bidang pengembangan, riset, dan inovasi atas produk-produk Perseroan yang berbasis teknologi tinggi dan memiliki nilai tambah.

The Director of Research and Development is responsible for planning, formulating, directing, coordinating and controlling the Company’s policies and activities in the areas of product development, research and innovation of products that offer added value through cutting edge technology.

Direktur Keuangan umumnya bertanggung jawab dalam merumuskan, mengarahkan, mengkoordinasikan dan mengawasi jalannya kebijakan dan kegiatan Perseroan di bidang keuangan.

The Finance Director is responsible for planning, formulating, directing, coordinating and controlling the Company’s policies and activities in the areas of finance, controlling and accounting.

Direktur Pengembangan Bisnis dan Operasi Internasional umumnya bertanggung jawab dalam merumuskan, mengarahkan, mengkoordinasikan dan mengawasi jalannya kebijakan dan kegiatan Perseroan di bidang pengembangan usaha dan pengawasan terhadap unit-unit internasional Perseroan.

The Director of Business Development and International Operations is responsible for planning, formulating, directing, coordinating and controlling the Company’s policies and activities in business development and supervision of the Company’s international operations.

Direktur Tidak Terafiliasi ditunjuk guna memenuhi persyaratan yang diatur dalam peraturan Bursa Efek Indonesia. Direktur Tidak Terafiliasi umumnya bertanggung jawab dalam merumuskan, mengarahkan, mengkoordinasikan dan mengawasi jalannya kebijakan dan kegiatan Perseroan di bidang pengawasan internal dengan membawahi tim Internal Audit Perseroan.

The Unaffiliated Director has also been appointed pursuant to the regulation of the Indonesian Stock Exchange. The Unaffiliated Director is mainly responsible for planning, formulating, directing, coordinating and controlling the Company’s policies and activities in the areas of internal control, and supervises the Company’s Internal Audit Unit.

Profil setiap anggota Direksi ditampilkan di halaman 71 dalam Laporan Tahunan ini. Direksi mengadakan rapat setiap dua minggu untuk membicarakan hal yang berhubungan dengan kegiatan Perseroan, pelaksanaan rencana, termasuk kinerja operasional dan keuangan, strategi dan isu lainnya yang dianggap penting.

The profiles of each Director are presented on page 71 of this Annual Report. The Board of Directors held bi-weekly meetings to discuss issues relating to the operations of the Company, implementation of plans, including operational and financial performance, strategies, and other issues deemed important.

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Rapat Dewan Komisaris dan Direksi Tabel berikut di bawah ini memuat daftar hadir rapat Dewan Komisaris, rapat Direksi dan rapat Komite Audit selama tahun 2011 Jenis Rapat Type of Meetings

Meetings of the Board of Commissioners and Board of Directors The table below lists the attendance of the Company’s Board of Commissioners, Board of Directors and Audit Committee meetings in 2011

Jumlah Rapat (kali) Total Meetings (times)

Kehadiran (%) Attendance (%)

4

100%

21

70%

6

100%

Dewan Komisaris/Board of Commissioners Direksi/Board of Directors Komite Audit/Audit Committee

Beberapa rapat juga diadakan oleh Direksi dengan anggota Manajemen Senior untuk membahas hal spesifik yang membutuhkan perhatian langsung dari Direksi dan menyutujui keputusan yang diambil dalam penyelesaian hal tersebut.

Several informal meetings were also conducted by the Board of Directors with senior management personnel to address specific issues that require the immediate attention of the Directors and to approve decisions taken with respect to those issues.

Remunerasi untuk Anggota Dewan Anggota Dewan Komisaris dan Direksi menerima remunerasi untuk pelayanan mereka terhadap Perseroan. Menindaklanjuti resolusi Rapat Umum Pemegang Saham Tahun 2010, paket remunerasi untuk setiap anggota Dewan Komisaris dan Direksi telah ditentukan oleh Dewan Komisaris sesuai dengan mandat yang telah diberikan kepada mereka di rapat tersebut. Remunerasi bagi Dewan Komisaris dan Direksi di akhir tahun yaitu 31 Desember 2011 bernilai Rp 11 milyar, dibanding dengan jumlah pada tahun 2010 sebesar Rp 9 milyar.

Remuneration for Board Members The Company’s Commissioners and Directors receive remuneration for their services to the Company. Pursuant to the resolution of the 2010 Annual General Meeting of Shareholders, the remuneration packages for members of the Board of Commissioners and Board of Directors had been determined by the Board of Commissioners in accordance with the mandate given to it by the Shareholders. Remuneration for the Commissioners and Directors for the year ended 31 December 2011 amounted to IDR 11 billion, compared to IDR 9 billion in 2010.

Komite Audit Komite Audit dibentuk pada bulan Desember 2010 untuk membantu Dewan Komisaris dalam melaksanakan tanggung jawabnya termasuk meninjau reliabilitas informasi keuangan Perseroan yang ditampilkan ke publik; efektivitas sistem kontrol internal; kepatuhan terhadap peraturan dan kebijakan Pasar Modal; dan kebijakan lainnya yang berhubungan dengan kegiatan Perseroan; manajemen risiko dan aktivitas audit internal.

Audit Committee The Audit Committee was established in December 2010 to assist the Board of Commissioners in its oversight responsibilities, which includes reviewing the reliability of the Company’s financial information issued to the public; effectiveness of internal control system; compliance with Capital Market rules and regulations and other laws and regulations relevant to the Company’s activities; risk management and internal audit activities.

Internal Audit Divisi Internal Audit Perseroan didirikan pada tahun 2008 untuk mengawasi kepatuhan Perseroan terhadap kebijakan dan prosedur serta efektivitas kontrol internal dalam proses bisnis yang kritis, termasuk Laporan Keuangan, untuk memastikan asetaset yang dimiliki aman dan informasi keuangan dapat dipercaya.

Internal Audit The Company’s Internal Audit Division was established in 2008 to review compliance to the Company’s policies and procedures and effectiveness of internal controls on critical business processes, including financial reporting, to ensure that assets are safeguarded and financial information are reliable.


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Laporan Internal Audit diberikan langsung kepada Presiden Direktur dan Komite Audit, serta melakukan tindakan yang tepat dan korektif untuk setiap kekurangan yang ditemui. Sejak tanggal 31 Desember 2011, divisi Internal Audit dipimpin oleh Direktur Tidak Terafiliasi dan dibantu oleh dua general manager, termasuk seorang auditor profesional di bidang teknik informatika, dua manager audit dan empat auditor senior.

Internal audit results are reported directly to the President Director and the Audit Committee, and necessary corrective action is implemented for any identified deficiency. As of 31 December 2011, the Internal Audit Division is headed by the Unaffiliated Director of the Company and supported by two audit general managers, including an information technology audit expert, two audit managers and four senior auditors.

Sekretaris Perusahaan Sekteraris Perseroan bertanggung jawab langsung kepada Presiden Direktur. Selain bertanggung jawab atas penyebarluasan informasi Perseroan kepada publik, Sekretaris Perseroan juga menangani hubungan dengan media.

Corporate Secretary The Corporate Secretary reports directly to the President Director. In addition to ensuring the timely dissemination of information to the public, the Corporate Secretary is responsible for managing media relations.

Sekretaris Perseroan juga bertanggung jawab dengan hal-hal yang terkait dengan masalah hukum di Perseroan, menjamin Perseroan mendapatkan informasi terkini dan memenuhi seluruh peraturan dan ketentuan yang berlaku. Dibawah ini profil Sekretaris Perseroan Indopoly:

The Corporate Secretary is also responsible for corporate legal matter, ensuring that the Company is updated and is in full compliance with all prevailing rules and regulations. The Profile of the Corporate Secretary is as follows:

Yenni Meilina Lie, Warga Negara Indonesia, lahir pada tanggal 2 Mei 1980. Bergabung dengan Indopoly sejak tahun 2009 dan diangkat menjadi Sekretaris Perseroan sejak Juni 2011. Meraih gelar Sarjana Hukum dari Universitas Gadjah Mada dan gelar Master Hukum Bisnis dari Universitas Indonesia.

Yenni Meilina Lie, Indonesian Citizen, born on 2 May 1980. Joined Indopoly in 2009 and appointed as Corporate Secretary in June 2011. She holds a Law degree from Gadjah Mada University and a Master’s degree in Business Law from the University of Indonesia.

Keterbukaan Informasi Perseroan menerbitkan Laporan Tahunan dan Laporan Keuangan triwulan kepada pihak otoritas pasar modal serta keterbukaan informasi lainnya yang dibutuhkan.

Information Disclosure The Company publishes and files Annual Report and quarterly financial statements and other necessary disclosures to the capital market authorities.

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Perseroan menganut asas keterbukaan dan kesetaraan dalam hal penyampaian informasi ke setiap pemangku kepentingan. Publik juga dapat memantau perkembangan Perseroan melalui situs resmi: www.ilenefilms.com.

The Company adheres to the principles of transparency and fairness in the dissemination of information to all stakeholders. The public can also follow the Company’s developments through its official website: www.ilenefilms.com.

Kasus Litigasi Tahun 2011, Perseroan tidak mengalami kasus litigasi yang menyebabkan konsekuensi material keuangan bagi Perseroan.

Litigation Case In 2011, the Company did not face any litigation case that could have material financial consequences to the Company.

Manajemen Risiko Perusahaan menghadapi beberapa risiko dalam taraf yang wajar disepanjang aktivitas bisnisnya. Namun, risiko-risiko ini dapat berdampak merugikan bagi kelanjutan bisnis, penghasilan dan kondisi keuangan Perseroan. Penjelasan berikut menjabarkan risiko utama yang dihadapi Perseroan beserta usaha penyelesaiannya untuk mengurangi risiko tersebut.

Risk Management The Company incurs numerous risks in the normal course of its business activities. These risks can be detrimental to either the continuity of the Company’s business, its business earnings or financial condition. The following brief defines the primary risks faced by the Company and efforts to mitigate those risks.

Risiko Keuangan Risiko Keuangan umumnya diasosiasikan dengan ketidakmampuan Perseroan dalam mencapai target laba dari penjualan, atau ketidakmampuan Perseroan dalam mendapatkan kreditur atau investor baru, hal-hal ini dianggap kritikal terhadap keberlanjutan aliran dana positif. Usaha dalam mengurangi risiko ini termasuk diantaranya adalah inisiatif untuk mengamankan sumber pendapatan secara berkala, dan juga mempertahankan neraca yang kuat serta mencukupi likuiditas agar dapat memenuhi obligasi keuangan Perseroan sewaktu-waktu.

Financial Risk Financial risks are mainly associated with the inability of the Company to achieve its sales revenue target, or the inability of the Company to obtain new financing from either creditors or investors in so far as these financing or equity raising is deemed critical to the sustainability of positive cash flows. Efforts to mitigate such risks include the initiative to secure revenue sources on a continuous basis, in addition to maintaining a strong balance sheet as well as adequate liquidity to meet all of the Company’s financial obligation at all times.

Pada umumnya risiko keuangan terdiri dari risiko kredit, risiko likuiditas dan risiko nilai tukar. Untuk penjelasan lebih lanjut mengenai faktor-faktor risiko keuangan dan kebijakan manajemen Perseroan, dapat dilihat di halaman 66-68 di Catatan atas Laporan Keuangan Konsolidasian pada Laporan Tahunan ini.

Financial risks in general comprise of credit risk, liquidity risk, interest rate risk and foreign currency risk. For more detailed description of the Company’s financial risk factors and management policies, please see page 66-68 of the Notes to the Consolidated Financial Statements of this Annual Report.

Risiko Nilai Tukar Perseroan melakukan pembelian bahan baku, bahan pendukung dan pembayaran biaya operasional tertentu (seperti suku cadang, biaya transportasi luar negeri) serta penyelesaian kewajiban pembayaran pinjaman dalam mata uang asing. Apabila terjadi pergerakan mata uang asing secara signifikan, maka dapat mengakibatkan Perseroan mengalami kerugian kurs yang selanjutnya berdampak pada tingkat profitabilitas Perseroan. Untuk meminimalkan risiko ini, Perseroan selalu berusaha mendapatkan kontrak penjualan dengan mata uang asing, sehingga memberi manfaat natural hedging bagi Perseroan baik dari segi keuangan maupun dari segi sinergi operasi.

Exchange Rate Risk The Company purchases raw materials, supporting materials, and incurs certain operational cost (i.e., spare parts, traveling expenses) in foreign currencies as well as settlement of foreign currency denominated loans. In case of significant fluctuation in foreign currency exchange rates, the Company may be exposed to a foreign currency translation loss, which could impact the Company’s profitability. To mitigate this exchange rate risk, the Company strives to obtain its sales contract in foreign currency denomination, such that it offers a natural hedging benefit both in terms of financial as well as operational synergies.


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Risiko Suku Bunga Perseroan terekspos risiko suku bunga terutama menyangkut kewajiban keuangan Perseroan memiliki pinjaman yang bersifat jangka panjang kepada bank yang menggunakan tingkat bunga pasar. Perseroan berupaya mengelola risiko tingkat bunga dengan mengurangi pinjaman tingkat bunga yang tinggi ke pinjaman dengan tingkat bunga yang lebih rendah.

Interest Rate Risk The Company is exposed to interest rate risk with respect to its financial liabilities. The Company assumes long term bank debts that bear market interest rate. The Company manages interest rate risk by reducing the amount of loans with high interest rate, and replacing them with loans of lower interest rate.

Risiko Produksi Risiko produksi timbul umumnya berasal dari faktor menurunnya tingkat produksi – termasuk tenaga kerja, peralatan dan sumber daya lainnya – yang menimbulkan risiko ketidakmampuan Perseroan dalam mencapai target produksi. Permasalahan dalam proses pengadaan dan logistik juga merupakan faktor risiko untuk mencapai produksi yang tepat waktu. Usaha dalam mengurangi risiko ini termasuk diantaranya (i) Penggunaan teknologi terkini yang dapat memacu tingkat produksi (ii) Perawatan alat produksi dengan baik (iii) Mengganti alat produksi yang sudah lama dengan yang terkini secara cepat (iv) Memberikan pelatihan yang sesuai bagi karyawan (v) Memastikan pengadaan dan logistik diatur secara efisien.

Production Risk Production risks arise primarily from declining factors of production – including people, equipment and other resources - that pose risks on the Company’s ability to meet production targets. Supplies and logistics issues are also risk factors to timely production. Efforts to mitigate these risks include (i) the use of advanced technology to spur productivity, (ii) proper and adequate maintenance of production equipment, (iii) timely replacement of outdated equipment with new ones, (iv) the provision of adequate training to relevant personnel, and (v) ensuring that supplies and logistics are met as needed.

Risiko Pasokan Bahan Baku Perseroan menggunakan bahan baku utama berupa resin yang merupakan turunan minyak bumi. Bahan baku tersebut diproduksi oleh produsen yang jumlahnya banyak, baik di dalam maupun di luar negeri. Industri yang menggunakan bahan baku resin dapat memenuhi permintaan yang ada. Namun pada kondisi tertentu, misalnya pada saat salah satu pabrik pemasok melakukan overhaul mesin, maka keseimbangan antara penawaran dan permintaan dapat terganggu, yang kemudian berdampak pada peningkatan harga resin. Apabila terjadi peningkatan harga bahan baku, maka biaya produksi Perseroan juga akan meningkat dan selanjutnya berdampak pada tingkat profitabilitas Perseroan. Kebijakan Perseroan untuk meminimalkan risiko yang berasal dari pasokan bahan baku adalah menjaga tingkat optimal dari persediaan resin beserta bahan baku penunjangnya untuk produksi yang berkelanjutan. Selain itu, Perseroan juga berusaha mengurangi risiko tersebut dengan cara mengalihkan kenaikan harga kepada pelanggannya.

Raw Materials Supply Risk The Company uses its main raw material in the form of resin that constitutes a derivative by-product of crude oil. This raw material is produced by numerous producers at home and abroad. During normal conditions, the level of supply for resin is adequate to meet market demand. However, under certain conditions, the balance between supply and demand for resin may be disrupted, which could lead to an increase in the price of resin. This in turn could effect the Company’s production cost with adverse effect to profitability. The Company seeks to mitigate feedstock supply risk by maintaining adequate amounts of raw materials at all times to ensure the continuity of production. In addition, the Company also reduces such risk by passing on the increase in price to the customers.

Risiko Persaingan Usaha Risiko Pemasaran biasanya muncul dari persaingan harga pasar, biaya pengiriman dan pengangkutan,

Market Competition Risk Marketing risks often arise as a result of competition in market price, excessive shipping and freight costs,

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hambatan perdagangan atau kuota impor yang diberlakukan di beberapa pasar atau negara, serta efektivitas jaringan marketing dan jalur distribusi Perseroan. Risiko-risiko ini telah diminimalisir dengan keputusan Perseroan untuk beroperasi sebagai perusahaan multinasional. Dengan mengoperasikan dua fasilitas pabrikan dan satu kantor marketing di luar negeri, Perseroan dapat memanfaatkan banyak kemudahan dan fleksibilitas dalam aktivitas marketing dan distribusinya yang tidak dapat dimanfaatkan jika hanya beroperasi dari satu negara saja.

trade barriers or import quotas imposed by certain markets or countries, as well as the effectiveness of the Company’s own marketing network and distribution channel. These risks have been mitigated by the Company’s decision to operate as a multi-national company. By operating two manufacturing facilities and marketing offices overseas, the Company has enjoyed greater flexibilities on its marketing and distribution activities than it would otherwise have had if it were only operating from a single country.

Risiko Perubahan Kebijakan Pemerintah Dalam dan Luar Negeri Kegiatan usaha Perseroan menuntut kepatuhan terhadap hukum dan regulasi di negara-negara di mana Perseroan beroperasi. Hukum dan regulasi ini berkaitan dengan investasi, pajak, perdagangan internasional, tenaga kerja dan lain sebagainya. Perubahan dalam hukum dan regulasi ini dapat mempengaruhi operasional Perseroan. Beberapa risiko bahkan di luar kemampuan Perseroan. Namun, Perseroan percaya dengan tetap tunduk dan mengacu kepada hukum dan regulasi yang berlaku di lokal, nasional, regional dan internasional akan dapat meminimalisir kemungkinan terkena risiko-risiko regulasi.

Government Regulations Risk

Risiko Lingkungan Perseroan dalam proses produksinya menggunakan berbagai macam bahan kimia yang dapat berasal dari penanganan material berbahaya ataupun pembuangan limbah berbahaya. Untuk mengurangi risiko ini, selain taat pada peraturan yang diterapkan di AMDAL (Analisa Mengenai Dampak Lingkungan) oleh Kantor Wilayah untuk Manajemen Lingkungan, Perseroan juga mematuhi standar praktik terbaik Internasional terhadap lingkungan, serta masalah keamanan dan kesehatan yang berkaitan dengan pengoperasian Indopoly di dalam ataupun luar negeri.

Environmental Risk The Company uses a variety of chemicals in its production process such that there are risks associated with the handling of hazardous materials as well as possible toxic waste disposals. To mitigate these risks the Company is not only in full compliance with the AMDAL (analyses of environmental impact) requirements of the Regional Office of Environment Management, but also adheres to international bestpractice standards on environmental, safety and health issues pertaining to its operations at home and overseas.

Konflik Kepentingan Perseroan memastikan bahwa segala kegiatan usaha perusahaan tidak tercampur dengan konflik kepentingan dari pihak tertentu. Perseroan telah menetapkan pedoman yang jelas akan apa yang dianggap konflik kepentingan, dan prosedur yang ketat dalam memecahkan masalah ini.

Conflict of Interests The Company makes sure that all or any of its business activities do not contain conflict of interests by the relevant parties. It has set forth clear guidelines on what may constitute a conflict-of-interest, and strict protocols on how to resolve such matters.

Di tahun 2011, Perseroan tidak menghadapi permasalahan konflik kepentingan diantara Dewan Komisaris, Direksi dan pemegang saham Perseroan.

In 2011, the Company did not carry out transactions with conflicting interests among and between the Commissioners, Directors, and Shareholders of the Company.

The business activities of the Company require compliance with the laws and regulations of the respective countries where the Company operates. These laws and regulations pertain to investment, taxation, international trade, labor and others. Changes in these laws and regulations could effect the Company’s operations. Such risks are often beyond the control of the Company. Nevertheless, the Company believes that its full adherence to local, national, regional and international laws and regulations have minimized its exposures to regulations risk.


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Laporan Komite Audit Audit Committee Report

Komite Audit dibentuk pada tanggal 23 Desember 2010 sesuai dengan ketentuan Badan Pengawas Pasar Modal dan Lembaga Keuangan (BAPEPAM-LK) mengacu pada peraturan Nomor IX.1.5 mengenai pembentukan dan pelaksanaan Komite Audit, dan ketentuan Bursa Efek Indonesia mengenai Peraturan Umum Pencatatan Saham dalam Peraturan Bursa Efek No. I-A.

The Audit Committee was established on 23 December 2010 pursuant to the requirements of the Capital Market Supervisory Board (Bapepam-LK) with respect to Rule Number IX.1.5 regarding the establishment and implementation of Audit Committee, and the Indonesia Stock Exchange with respect to the General Regulations of Listed Shares in the Stock Exchange Rule No. I-A.

Komite Audit terdiri dari anggota-anggota di bawah ini:

The Audit Committee is composed of the following members:

Ketua

: Irawan Sastrotanojo, BSc. (Komisaris Independen)

Anggota : Catherine Bong, S.E. Komala Dewi, S.E.

Chairman: Irawan Sastrotanojo, BSc. (Independent Commissioner) Members: Catherine Bong, S.E. Komala Dewi, S.E.

Komala Dewi ditunjuk sebagai anggota Komite Audit pada bulan Oktober 2011 untuk menggantikan Suryana Yudhistira Chandra (alm).

Komala Dewi was appointed as Audit Committee member in October 2011 to replace Suryana Yudhistira Chandra (deceased).

Sebagaimana telah ditetapkan di peraturannya, tugas utama Komite Audit adalah untuk membantu Dewan Komisaris mengawasi tanggung jawabnya, termasuk memantau kebenaran informasi keuangan Perseroan yang ditampilkan di publik; efektivitas dalam sistem kontrol internal; kepatuhan terhadap peraturan dan kebijakan Pasar Modal serta regulasi lainnya yang berkaitan dengan aktivitas Perseroan; manajemen risiko dan kegiatan internal audit.

As stipulated in its Charter, the Audit Committee’s main task is to assist the Board of Commissioners in its oversight responsibilities, which includes reviewing the reliability of the Company’s financial information issued to the public; effectiveness of internal control system; compliance with Capital Market rules and regulations and other laws and regulations relevant to the Company’s activities; risk management and internal audit activities.

Dalam menjalankan tanggung jawabnya di atas, Komite Audit mengadakan enam (6) rapat dengan total

In carrying out the above-mentioned tasks, the Audit Committee held six (6) meetings with 100%

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Laporan Komite Audit Audit Committee Report

kehadiran sebanyak 100% hingga 31 Desember 2011. Jajaran manajemen dari Keuangan, Internal Audit dan Divisi legal juga hadir di rapat-rapat tersebut. Dalam rapat lanjutan pada bulan Januari 2012, Komite Audit menilai Rencana Internal Audit untuk tahun 2012, anggaran Perseroan 2012 dan rencana usaha dan status audit Laporan Keuangan Perseroan 2011.

attendance during the year ended 31 December 2011. Members of management from Finance, Internal Audit and Legal Divisions were also present during those meetings. In its subsequent meeting in January 2012, the Audit Committee reviewed the Internal Audit Plan for the year 2012, the Company’s 2012 budget and business plan, and the status of the 2011 audit of the Company’s financial statements.

Komite Audit akan mengadakan rapat selanjutnya di bulan Maret 2012 untuk menilai Laporan Keuangan Perseroan hingga tanggal 31 Desember 2011 sebelum dapat ditampilkan untuk publik.

The Audit Committee met again in March 2012 to review the Company’s financial statements for the year ended 31 December 2011 before it was issued to the public.

Berdasarkan rapat-rapat di tahun 2011 kemarin, Komite Audit tidak menemukan adanya permasalahan yang harus diangkat hingga ke jajaran Dewan Komisaris dan Direksi.

Based on the results of those meetings, the Audit Committee has not identified any material issues that should be brought to the attention of the Boards of Commissioners and Directors.

Atas nama Komite Audit,

On behalf of the Audit Committee,

Irawan Sastrotanojo, BSc. Ketua

Irawan Sastrotanojo, BSc. Chairman


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Management’s Discussion and Analysis Indopoly maintains a business continuity regimen that ensures the company’s sustainable long term growth


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Pembahasan dan Analisa Manajemen Management’s Discussion and Analysis

Penjualan Bersih Total penjualan bersih pada tahun 2011 meningkat hingga 12% menjadi Rp 1.818 milyar dari Rp 1.625 miliar pada tahun 2010 terutama disebabkan oleh peningkatan harga jual. Berikut ini merupakan komposisi penjualan berdasarkan aplikasi selama tahun 2011: 36% cigarette film, 50% fine food film dan 14% specialty film.

Net Sales Sales increased by 12% to IDR 1,818 billion in 2011 from IDR 1,625 billion in 2010 mainly resulted from increase in selling price. The following presents the composition of sales by product applications in 2011: cigarette packaging 36%; fine food packaging 50%; and specialty film application 14%.

Selama tahun 2011, penjualan lokal sebesar 72% dari total penjualan dan sisanya sebesar 28% merupakan penjualan ekspor. Sekitar 59% penjualan dari fasilitas produksi di Indonesia dan 41% lainnya dari fasilitas produksi di Cina.

In 2011, domestic sales accounted for 72% of total sales and the remaining 28% were export sales. About 59% of sales were derived from production facility in Indonesia and 41% from production facilities in China.

Penjualan Bersih/ Net Sales

Lokal vs Ekspor/ Local vs Export

Milyar / Billion IDR

: Ekspor/Eksport : Lokal/Local

1,230

1,625

1,818

418

320 910

2009

2010

500

2011

2009

1,207

1,318

2010

2011

Keterangan lebih lanjut mengenai penjualan bersih dapat dilihat di catatan 22 di Laporan Keuangan auditan dalam Laporan Tahunan ini.

Further details of sales are discussed in Note 22 of the financial statements in this annual report.

Beban Pokok Penjualan Beban pokok penjualan di akhir tahun 2011 meningkat 27% menjadi Rp 1.508 milyar dari Rp 1.186 milyar pada tahun 2010 disebabkan oleh meningkatnya penjualan sejalan dengan penambahan mesin BOPET pada pertengahan tahun yang meningkatkan kapasitas produksi dari 80.000 ton menjadi 100.000 ton dan harga bahan baku.

Cost of Goods Sold Cost of goods sold increased by 27% to IDR 1,508 billion in 2011 from IDR 1,186 billion in 2010 mainly due to increase in sales in line with the new BOPET line resulting to an increase in production capacity from 80,000 tons to 100,000 tons in second half of the year, and increase in raw materials price.

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Keterangan lebih lanjut mengenai beban pokok penjualan dapat dilihat di catatan 23 di Laporan Keuangan auditan dalam Laporan Tahunan ini.

Further details of cost of goods sold are discussed in Note 23 of the financial statements in this annual report.

Biaya Operasional Biaya operasional meningkat hingga 15% menjadi Rp 187 milyar ditahun 2011 dari 162 milyar pada tahun 2010 yang disebabkan, diantaranya oleh, peningkatan biaya penjualan dan biaya gaji, upah dan tunjangan terkait dengan penambahan lini produksi BOPET yang baru, mesin thermal, mesin metalizing pada tahun 2011 dan juga faktor inflasi.

Operating Expenses Operating expenses increased by 15% to IDR 187 billion in 2011 from IDR 162 billion in 2010 mainly due to increase in selling expenses in line with the increase in sales; increase in salaries and benefits due to the new BOPET line, thermal and metalizing machineries in 2011, and inflation factor.

Laba Usaha/ Operating Income

Laba Kotor/ Gross Profit Milyar/ Billion IDR

Milyar/ Billion IDR

440 310

266

2009

278

124

107

2010

2011

Profitabilitas Walaupun penjualan mengalami pertumbuhan, akan tetapi, fluktuasi harga bahan baku yang tajam ditahun 2011 mempengaruhi marjin dan laba operasional Perseroan. Hal ini disebabkan dari menurunnya laba kotor menjadi Rp 310 milyar ditahun 2011 dari Rp 440 milyar pada tahun 2010; dan penurunan laba bersih menjadi Rp 50 milyar ditahun 2011 dari Rp 170 milyar pada tahun 2010.

2009

2010

2011

Profitability Despite of the growth in sales, the rapid fluctuations of raw materials prices in 2011 have affected the sustainability of the Group’s margin and operating income. This resulted to a decrease in gross profit to IDR 310 billion in 2011 from IDR 440 billion in 2010; and decrease in net income to IDR 50 billion in 2011 from IDR 170 billion in 2010.


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Jumlah Aset Jumlah aset meningkat hingga 18% menjadi Rp 2.620 milyar ditahun 2011 dibandingkan dengan tahun 2010 sebesar Rp 2.219 milyar terutama disebabkan oleh penyelesaian lini produksi BOPET, mesin thermal, dan mesin metalizing ditahun 2011.

Total Assets Total assets grew by 18% to IDR 2,620 billion in 2011 compared to IDR 2,219 billion in 2010 mainly due to the completion of the BOPET production line, thermal and metalizing machines in 2011.

Aset lancar terdiri dari kas dan setara kas,piutang usaha, persediaan, pajak dan biaya dibayar di muka dan aset lain-lain lancar dan tetap stabil di Rp 836 milyar ditahun 2011 dibandingkan Rp 845 milyar pada tahun 2010.

Current assets consisting of cash and cash equivalents, accounts receivables, inventories, prepaid taxes and expenses, and other current assets remained stable at IDR 836 billion in 2011 compared to IDR 845 billion in 2010.

Laba Bersih/ Net Income

Arus Kas dari Aktivasi Operasi/ CF from Operating Activities

Milyar/ Billion IDR

Milyar/ Billion IDR

Arus Kas dari Aktivasi Operasi/ Cash Flows from Operating Activities

170

93 63

50

5 2009

2010

2011

2009

2010

2011

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Aset tidak lancar meningkat 30% menjadi Rp 1.784 milyar ditahun 2011 dibandingkan Rp 1.375 milyar pada tahun 2010 terutama disebabkan dari meningkatnya aset tetap karena penambahan lini produksi BOPET, mesin thermal, dan mesin metalizing.

Non-current assets increased by 30% to IDR 1,784 billion in 2011 from IDR 1,375 billion in 2010 mainly due to the increase in fixed assets arising from the new BOPET production line, thermal and metalizing machineries.

Jumlah Liabilitas Jumlah liabilitas meningkat hingga 31% menjadi Rp 1.471 milyar ditahun 2011 dibandingkan dengan tahun 2010 sebesar Rp 1.124 milyar disebabkan oleh pendanaan lini produksi BOPET, mesin thermal,

Total Liabilities Total liabilities increased by 31% to IDR 1,471 billion in 2011 from IDR 1,124 billion in 2010 mainly due to the financing of new BOPET production line, thermal,

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dan mesin metalizing, dan peningkatan modal kerja yang disebabkan oleh meningkatnya kapasitas produksi dari 80.000 ton menjadi 100.000 ton.

and metalizing machineries, and increase in working capital requirements in line with the increase in production capacity from 80,000 tons to 100,000 tons.

Ekuitas Ekuitas meningkat hingga 5% mencapai Rp 1.149 milyar dibandingkan dengan tahun lalu yang mencapai Rp 1.096 milyar terutama disebabkan peningkatan saldo laba dan komponen ekuitas lainnya.

Equity Equity increased by 5% to IDR 1,149 billion in 2011 from IDR 1,096 billion in 2010 mainly from increase in retained earnings and other equity components.

Likuiditas dan Pengumpulan Piutang Likuiditas adalah kemampuan Perseroan dalam menyelesaikan kewajibannya, salah satunya tercermin dari rasio lancar Perseroan. Per tanggal 31 Desember 2011, tingkat likuiditas Perseroan adalah sebesar 86% dibandingkan tahun 2010 yang mencapai 120%.

Liquidity and Receivable Collectability Liquidity is the Group’s ability to settle its current liabilities reflected by its current ratio. As of 31 December 2011, the level of liquidity was 86% compared to 120% in 2010.

Perseroan meyakini bahwa realiasi dari seluruh piutang usaha dapat dilakukan dan tidak pernah ada catatan gagal bayar. Umur piutang berdasarkan waktu jatuh tempo dapat dilihat di catatan 5 dari Laporan Keuangan auditan di Laporan Tahunan ini.

The Group expects to realize all of its outstanding accounts receivable and there has been no history of default. The aging profile of accounts receivable is discussed in Note 5 of the financial statements in this annual report.

Struktur Modal dan Kemampuan Membayar Utang Struktur modal dan kemampuan membayar utang Perseroan dijaga dalam tingkat yang sehat dan jauh melebihi persyaratan perjanjian hutangnya. Per tanggal 31 Desember 2011, rasio utang bank terhadap ekuitas tercatat 1,1 kali dibanding dengan tahun 2010 sebesar 0,9 kali; rasio kewajiban terhadap aset mencapai 0,6 kali pada tanggal 31 Desember 2011 dibandingkan dengan 0,5 kali pada tanggal 31 Desember 2010; dan rasio EBITDA terhadap biayabunga adalah sebesar 3.8 kali pada tanggal 31 Desember 2011 dan 6.0 kali pada tanggal 31 Desember 2010.

Capital Structure and Debt Payment Ability The capital structure and debt payment ability of the Group are maintained at healthy level and way above the required covenants for its debt agreements. The Group’s debt-to-equity ratio stood at 1.1 times as of 31 December 2001 and 0.9 times as of 31 December 2010; its liability-to-assets ratio was 0.6 times as of 31 December 2001 and 0.5 times as of 31 December 2010; and its EBITDA-to-interest coverage ratio was 3.8 times in 2011 and 6.0 times in 2010.

Arus Kas Perseroan menghasilkan arus kas bersih dari aktivitas operasi sebesar Rp 62 milyar ditahun 2011 dibandingkan Rp 5 milyar pada tahun 2010.

Cash Flows The Group generated IDR 62 billion net cash flows from its operating activities in 2011 compared to IDR 5 billion in 2010.

Pada tahun 2011, jumlah kas yang digunakan untuk aktivitas investasi adalah sebesar Rp 454 milyar dan pada tahun 2010 adalah sebesar Rp 231 milyar, khususnya untuk akusisi aset tetap.

In 2011, net cash flows used in investing activities amounted to IDR 454 billion and IDR 231 billion in 2010, specifically for fixed assets acquisition.


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Perseroan memperoleh Rp 214 milyar arus kas bersih dari aktivitas pendanaan ditahun 2011 dibandingkan Rp 423 milyar pada tahun 2010. Sumber pendanaan dapat dilihat pada Laporan Arus Kas Konsolidasian dari Laporan Keuangan pada Laporan Tahunan ini.

In addition, the Group raised IDR 214 billion net cash flows from its financing activities in 2011 compared to IDR 423 billion in 2010. Sources of financing are discussed in the Statements of Consolidated Cash Flows in the Group’s financial statements in this annual report.

Jumlah kas dan setara kas Perseroan adalah sebesar Rp 100 milyar pada 31 Desember 2011 dan Rp 276 milyar pada 31 Desember 2010.

The Group’s total cash and cash equivalents stood at IDR 100 billion as of 31 December 2011 and IDR 276 billion as of 31 December 2010.

Belanja Modal Di tahun 2011, Perseroan mengeluarkan belanja modal senilai Rp 458 milyar dikarenakan penambahan dan diversifikasi produk guna memperkuat kemampuan Perseroan dalam menghasilkan produk berkualitas tinggi bagi pasar maupun pelanggannya.

Capital Expenditure The Group spent IDR 458 billion in capital expenditure in 2011 because of the Group’s product line extension and diversification to further strengthen its platform in producing high-end quality packaging films to the global market so it could offer more choices to its ever growing customer base.

Prospek Usaha Indonesia menutup tahun 2011 dengan hasil yang gemilang dengan berhasilnya pemerintah mempertahankan pertumbuhan ekonomi dan tingkat inflasi pada perkiraan sebelumnya. Dengan ditutupnya Indeks Harga Saham Gabungan mendekati 4.000, pasar saham mengindikasikan pertumbuhan ekonomi yang kuat ditahun-tahun mendatang.

Future Prospect Indonesia closed the year 2011 with a strong result as the Government successfully maintained the economic growth and inflation rate at its previous estimate. The stock market in particular has shown that a strong economic growth in the coming years is just around the corner as the Jakarta Composite Index closed toward 4,000.

Populasi dengan penghasilan menengah atas -yang merupakan indikator utama permintaan kemasan consumer goods- masih terus diharapkan untuk tumbuh pada tingkat yang sehat. Laporan dari IMF yang terkini mengindikasikan konsumsi belanja keperluan sehari-hari di Indonesia meningkat sebesar 5%1 setiap tahun, jauh lebih baik dari banyak negara lainnya. PCI Films memperkirakan permintaan dunia akan BOPP dan BOPET film akan terus meningkat sekitar 7.0% 2 dan 8.7% 3, per tahun hingga tahun 2014. Perseroan berada dalam posisi yang baik untuk menuai keuntungan dalam beberapa tahun ke depan.

Mid to mid-high income population—a leading indicator for demand for packaged consumer goods—are still expected to be growing at a healthy rate. According to recent IMF report, household consumption expenditure in Indonesia has been growing at 5%1 each year, well above most countries. PCI Films reported a conservative forecast of world demand for BOPP and BOPET film will continue to grow at an average 7.0% 2 and 8.7% 3 respectively, per year up to 2014. The Company is well positioned to reap its reward over the next several years.

Komitmen kami dalan meningkatkan hubungan horisontal dan vertikal yang kuat akan membawa bisnis kami ke depan. Pada tahun 2011, kami telah memperkuat integrasi dan hubungan kami dengan para affiliasi serta pelanggan kami. Diluar pelayanan terbaik yang kami berikan, PET film merupakan penawaran terbaru bagi para pelanggan global kami menawarkan solusi terpadu untuk memenuhi kebutuhan pelanggan.

Our commitment to enhance strong horizontal and vertical linkages will drive our business forward. In 2011, we have strengthened our integration and relationship with our affiliates as well as customers. Apart from our service excellence, the PET film was a new offering to our global customers, offering them one-stop shop purchase experience.

1 2 3

http://imfstatext.imf.org /WBOS-query/Index.aspx?QueryId=6310 http://www.pcifilms.com/main.asp?selection=Market%20studies&subsel=Polypropylene%20Film%20Market%20Studies&marker=47 http://www.pcifilms.com/main.asp?selection=Market%20Studies&subsel=Polyester%20Film%20Market20Reports&marker=49

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Melangkah ke depan, Direksi dan manajemen berkomitmen memberikan perhatian penuh kepada Perseroan dengan terus menawarkan produk dengan margin yang tinggi dan memperbaiki program retensi karyawan serta mematuhi inisiatif tanggung jawab sosial perseroan untuk memberi nilai tambah bagi para pemegang saham, pelanggan, pemasok dan affiliasi bisnisnya.

Going forward, the Board of Directors and management are committed to show their fullest care for the Group by consistently seeking high margin products and improving its employee retention program and adhere to sound corporate social responsibilities initiatives to add value to shareholders, customers, suppliers and business affiliates.

Konflik Kepentingan Pada tahun 2011, Perseroan tidak mengadakan transaksi yang dapat menimbulkan konflik kepentingan dengan Direksi, Dewan Komisioner atau pemegang saham.

Conflict of Interest As a matter of policy, the Group has not conducted transactions with its Boards of Commissioners and Directors or any major shareholder that would constitute a conflict of interest.

Penggunaan Dana Hasil Penawaran Umum Perdana (IPO) Informasi dibawah ini menunjukkan penggunaan seluruh dana IPO yang sejumlah Rp 464 milyar: •Rp 271 milyar untuk modal kerja; •Rp 171 milyar untuk lini produksi BOPET; dan •Rp 22 milyar untuk penyelesaian bridging loan.

Utilization of Initial Public Offering (IPO) Proceeds

Waran Sehubungan dengan penawaran umum perdananya, Perseroan menerbitkan 460.035.700 Waran Seri I dimana 15.900 dari waran tersebut telah dikonversikan ditahun 2011. Waran tersebut dapat dikonversikan sampai 9 Juli 2013.

Warrant In connection with the Company’s IPO, the Company issued 460,035,700 Series I Warrants of which 15,900 warrants had been exercised in 2011. The warrants can be exercised until 9 July 2013.

Dividen Ditahun 2011, Perseroan telah mendistribusikan dividen tunai sebesar Rp 3 per saham, dengan total pembayaran sebesar Rp 19 milyar.

Dividend In 2011, the Company declared and distributed cash dividends of IDR 3 per share totaling IDR 19 billion.

The following presents the full utilization of IPO proceeds of IDR 464 billion: •IDR 271 billion for working capital; •IDR 171 billion for new BOPET production line; and •IDR 22 billion for settlement of bridging loan.


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Tanggung Jawab Pelaporan Operasional dan Keuangan Responsibility for Operational and Financial Reporting

Laporan Tahunan 2011 berikut Laporan Keuangan dan informasi lain yang terkait merupakan tanggung jawab manajemen PT Indopoly Swakarsa Industry Tbk. dan dijamin kebenarannya oleh seluruh anggota Direksi dan Dewan Komisaris dengan membubuhkan tanda tangannya masing-masing di bawah ini.

The 2011 Annual Report and the accompanying financial statements and related financial information, are the responsibility of the management of PT Indopoly Swakarsa Industry Tbk. and have been approved by the members of the Board of Directors and the Board of Commissioners whose signatures appear below.

Dewan Komisaris

Board of Commissioners

Felielyne Halim Presiden Komisaris President Commissioner

Ryan Permana Komisaris Commissioner

Irawan Sastrotanojo Komisaris Independen Independent Commissioner

Direksi

Board of Directors

Henry Halim President Direktur President Director

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Ronny Wuisan Direktur Director

Pe Maria Indra Direktur Director

Bambang Widjaja Direktur Director

Kho Tiat Hong Direktur Director

Leo Firdaus Direktur Director

Jose Gonjoran Tan Direktur Director


Laporan Keuangan 2011

Financial Report 2011


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PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES

PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK     

    

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PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES

PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK                                 

  



         

                          

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                                 



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PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK LAPORAN POSISI KEUANGAN KONSOLIDASIAN   

                         

 

        

   

 

 



    

 







 

 

 

      

      

      



            

 

 

 

   

   

   

           









  

  



 



PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION







 





PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK LAPORAN POSISI KEUANGAN KONSOLIDASIAN (Lanjutan)   

                                                   

            

       

   



 





 

 

 

   

   

   

   

   

   

  

  

  

     

     

     

                              

    

    

    

  

  

  

                      









 



 

    







  



 

 

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Continued)











 





PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK LAPORAN LABA RUGI KONSOLIDASIAN

  

 

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME



  



 

 

 



























      

      







  

  

   







       

 



    



 

 

  

 

 





 







 









 

  

  

      







 





PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK LAPORAN LABA RUGI KOMPREHENSIF KONSOLIDASIAN

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Untuk Tahun-tahun yang Berakhir pada Tanggal 31 Desember 2011 dan 2010 (Dalam jutaan Rupiah, kecuali dinyatakan lain)

Catatan/ Note LABA TAHUN BERJALAN

For the Years Ended December 31, 2011 and 2010 (In million Rupiah, unless otherwise stated)

2011 Rp 52,766

2010 Rp 175,408

PENDAPATAN KOMPREHENSIF LAINNYA Selisih Kurs karena Penjabaran Laporan Keuangan

OTHER COMPREHENSIVE INCOME 3.d

TOTAL LABA KOMPREHENSIF TAHUN BERJALAN Total Laba Komprehensif yang Dapat Diatribusikan kepada: Pemilik Entitas Induk Kepentingan Non Pengendali

19,830

(3,073)

Currency Translation Adjustment

72,596

172,335

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

67,843 4,753 72,596

Catatan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan

d1/March 30, 2012

INCOME FOR THE YEAR

167,523 4,812 172,335

Total Comprehensive Income Attributable to: Owner of the Parent Company Non - Controlling Interest

The accompanying notes form an integral part of these consolidated financial statements

4

paraf:

19 1.e, 19, 21

3.d

20 1.e, 19, 21

3.d

-2 -644,052

----

86,317 379,209 644,050

---

--

178,524

Rp

Modal Saham/ Paid - in Capital

d1/March 30, 2012

Catatan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan

-----

----

(86,317) ---

---

--

86,317

Rp

-2 -234,545

----

-234,003 234,543

---

--

540

Additonal Paid in Capital

Advances for Future Stock Subscription

Rp

Tambahan Modal Disetor/

Uang Muka Setoran Modal/

Rp

---(30,873)

-17,696 17,696

--(48,569)

(2,743) (2,743)

--

(45,826)

Selisih Kurs karena Penjabaran Laporan Keuangan/ Currency Translation Adjustment

5

Rp

---(22,261)

----

--(22,261)

---

--

(22,261)

Selisih Nilai Transaksi Restrukturisasi Entitas Sepengendali/ Difference in Value Resulting from Restructuring Transaction between Entities Under Common Control

Komponen Ekuitas Lainnya/ Other Equity Component

Rp

--(19,322) 284,736

50,147 -50,147

--253,911

-170,265

170,265

83,646

Saldo Laba/ Retained Earnings

-4 (19,322) 1,110,199

50,147 17,696 67,843

-613,212 1,061,674

(2,743) 167,522

170,265

280,940

Rp

Total

Total/

---38,719

2,619 2,134 4,753

--33,966

(331) 4,812

5,143

29,154

-4 (19,322) 1,148,918

52,766 19,830 72,596

-613,211 1,095,640

(3,073) 172,335

175,408

310,094

Rp

Total Equity

Total Ekuitas/

Dividend Distribution BALANCE AS OF DECEMBER 31, 2011

Advances for Future Stock Subscription Warrant Conversion

Income for the Year Other Comprehensive Income Total Comprehensive Income

Advance for Future Stock Subscriptions Additional Paid - in Capital BALANCE AS OF DECEMBER 31, 2010

Income for the Year Other Comprehensive Income Total Comprehensive Income

BALANCE AS OF JANUARY 1, 2010/ DECEMBER 31, 2009

paraf:

The accompanying notes form an integral part of these consolidated financial statements

Rp

Kepentingan Non Pengendali/ Non - Controlling Interest *

For the Years Ended December 31, 2011 and 2010 (In million Rupiah, unless otherwise stated)

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

Ekuitas yang Dapat Diatribusikan kepada Pemilik Induk/Equity Attributable to Owner of the Parent Company

* Setelah Reklasifikasi, lihat Catatan 2.a dan 33/After Reclassification, see Notes 2.a and 33

Uang Muka Setoran Modal Konversi Waran Pembagian Dividen SALDO PER 31 DESEMBER 2011

Laba Tahun Berjalan Pendapatan Komprehensif Lainnya Total Pendapatan Komprehensif

Uang Muka Setoran Modal Tambahan Modal Disetor SALDO PER 31 DESEMBER 2010

Laba Tahun Berjalan Pendapatan Komprehensif Lainnya Total Pendapatan Komprehensif

SALDO PER 1 JANUARI 2010/ 31 DESEMBER 2009

Catatan/ Note

Untuk Tahun-tahun yang Berakhir pada tanggal 31 Desember 2011 dan 2010 (Dalam jutaan Rupiah, kecuali dinyatakan lain)

PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK LARORAN PERUBAHAN EKUITAS KONSOLIDASIAN

PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK ARUS KAS KONSOLIDASIAN

  

 

  



 

          

   

               

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES CONSOLIDATED CASH FLOWS



 





     

     





  



 

  

  



  

               

 

 

 

 

      

      





                





 





 





 





 

 

 

 







 



PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK ARUS KAS KONSOLIDASIAN (Lanjutan)

  

 

  

  

     

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES CONSOLIDATED CASH FLOWS (Continued)





 

 

   

   

     















  











            

 



PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS   

PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN      1. Umum 

                                                                                                                     

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                                                                                                     

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                       

1. General

                                  

                               

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       

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      

       

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                                                                   

      



        

 

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      

        



PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)                 

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 



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    

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     

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

    

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

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  

                                                                                                                                                                                    

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 

 

  

    

 

   

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

    





 





































  

  

  

  

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                                                  

                                                 

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PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                                                                                                                                                                                                                                    

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PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)   

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                                                                                                                       

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              

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                              

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                                 

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   

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PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                               

             

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             

               

2. Penerapan Pernyataan Standar Akuntansi Keuangan dan Interpretasi Standar Akuntansi Keuangan (PSAK dan ISAK) 

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                              

             

•           •   •          •          •  •   •          •          •    •  •   •  •          •  •           •                  •          •          • 

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2. Adoption of Statement of Financial Accounting Standards and Interpretation to Statement of Financial Accounting Standards (SFAS and IFAS)

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•          •           •          •          •  •          •            •           •          •  •         •  •         •          •         •           •          •   •  

PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      •          •         •             •                            •                                                                                                                

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                         

                      



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PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)    •           •         •   •          

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           •                                                                                                                  

         

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       

             

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PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      •                                     •

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                                                 

                                         •    •   •  •        

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•                                                                  

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                                                                                                        

                                                            

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                           • • • •

                         

PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      •  •  •          •         •   •        •        •  •        •   •        •  •              •        •        •  •              •  •  



              

                                   •          • 

 

•            



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PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)    • • •  •

  

         •        •        •   •  •        •            •                  •  •         •          •        •  •          •  •                                

                                    •          •          •         

PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      •           •                •         

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          •              •  •  •       •        •   



•           •          •          

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•     •  •  •         •        •             

                       

3. Ikhtisar Kebijakan Akuntansi Penting                                                                                          


                     3.

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  



Summary of Significant Accounting Policies                                                                                                        

PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                                          


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                                       

            

      

                    

                  

                                                          

                                                        

                         

            

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                                                      

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          

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PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)                                                                                                                                                                                                                                                                                                                                                                                                    

    



    

 

    

    

 

                         



    



    



    



    

                         

PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)                                                                                                                                                                                                                                                                                                                                                                                                 

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  

  

                  



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  

        

PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                                                     

                                                                                                                                  

                                          

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                                         



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PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)                                                                                                                                                        

                                                                   

                

PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                                        

                    

                                                         .          

                    

                         

                           

                        

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                                                                                  


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                                                              

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                                             


PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                                

                           

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                       

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                        

           

                                          

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                                                

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                      

                                                      

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                            

                           



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                                    

                                       

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    

PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)                                                                                                                                                                                                                                                                                                                                                       

                                                       

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

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                               



PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         

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PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                                    

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PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)                                                   

                       

                        

                       

              

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                                                                                                                                      



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  

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

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                                                  

                                                 

PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                        


                

                       

                                                                                            

                                                                        

          

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                                      

                                 

                                    •        •           •            

   





        







   •         •         •  




PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                                                                                                                    

                                              

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                                                                                                    

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                                                                                                                     

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                                       

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                                        

PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)            


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                                                                                   

                                                                                                                               

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                                                                    

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                                            

                  

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                  

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PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                                

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                               

                                                                      

              

                                              •                         



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PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)                      

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                 

                  

                



                                              

                                                           •                


PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      •                         •  

•                        •       





            

             

                                                           

                         















4. 

                      



4.

Kas dan Setara Kas







                              

Cash and Cash Equivalents 

    

  





     

     

     























































 

 

 

                            

 








PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)     

    

                            

      

    

 

 

 

 

 

 

 

























 

 

 







  

  

  

      

      

      

      

      

      

  

  

  



   

                                

      

   












PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      5. Piutang Usaha 



5. Accounts Receivable





    

     

 

  

  

  

  

                    



              



    

       

     

     

      

      

      



                      

            

                       





         

 

        







      







 

    

    



         

    




PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      6. Piutang Lain-lain





6.







         

    

  





     

     

     



Other Receivables

       

                                      



              

 

               







    

 



    

    

  

                      







  



  

                        




PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      7. Persediaan  

7. Inventories



      

     

 

    

    

                                                                           



    

    

               



                             

          8. Fixed Assets

8. Aset Tetap



  

            







     

    





 

 





    

    

    

    

    

    

   

   

   

   

   

   



           






PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)        



         

   

     

    



   



   

 

 





   

   

   





























   

                      

     

    





 

 





    

    

    

    

    

   

   

   

   

   

         

       



 



           

   

   

   

   

   

   

 

 

 

 

 

 

        







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        

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  

 

   

  

  

  

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





PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)                            

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  

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    

                                                                                                                                                                   

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

    

  

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                                                                       

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                      



                                  







                  







   






PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      9. Aset Tidak Berwujud 



9.





Intangible Assets 

   

  

 

 

 

 

 

 













                                                                                           

10. Other Assets

10. Aset Lain-lain  







    

                                                                  

    

    

  



                                       

  

  

                                   












PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)        

      

     

    

  

  

  



                              

       

  



  

  



             11.

         11.

Short-term Bank Loans

 

      





Utang Bank Jangka Pendek

 



         

 



 

    





 

  

  

  

  

  

  

  









       






                 

      

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)        

 

      

      

    

    

    





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               

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                                                                                                                                                                                                                                                                         

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PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                                                   •  •              •  •        •  •            •              •                                                                                      

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)                        

          •  •                        •  •   •  •    •                    •         

                                    

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                                                    

                    •  •  •      •                                •  •  •       •    •  •  

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PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      •            •              •                   •                      •                      •                      •    •  •                  •  •                                        

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)    •    •                    •        

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  •                        •                         •                        •    •  •     •  •                                                                                                                                                    

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PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         

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PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      

                                                                                                                                                                  

                                                                                                                  

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                                               

                                        

                                                                     

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                                             



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

PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)                                                 12. Accounts Payable

12. Utang Usaha

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                   

    

    

 

  

  

  

  



     

              

  

     

   

   

      

      

      

          



   

       

     

    

       

     

     

 







PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      13. Utang Lain-lain 

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)    13. Other Payables  





             

    

  





          

          

          

            

                                            

    

    

    

  

  

  

                           










PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      14. Biaya yang Masih Harus Dibayar

14. Accrued Expenses



        

    

        

      

      

      

 15. 

15. Long-term Bank Loans

Utang Bank Jangka Panjang

                        

 

    

 

  

  

  

  

  

  

  

  

  









          













  

  

  

          

 

 

 

 

                                                         







PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                             

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)                     

                                       

        

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                                                                                                                                 

                                                                                

                              

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                                                                                    

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PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)                              

                                               

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                                                                                                                                                                                                                                                                                                                                                            

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                                           

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                                     

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PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                                                   

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                                                                                                                              

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PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)                                                                             

                                                       

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                                                 

                                                                              



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PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                                  16.

                    16. Lease Payables

Utang Sewa Pembiayaan

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   

      

 

    

    

    

   

                                            17. Utang Pembiayaan Konsumen 17. Customer Financing Payables 

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    

    

    

  

  

  

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                                                                                                          

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 

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           









PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)         18. Liabilitas Diestimasi atas Imbalan Kerja 18. Estimated Liabilities on Employee Benefits                                                                

     

   

   



    



   

   

         

   

  

    





 



 

    

   

   

   



      

 

    



     



        

   



PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                  

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)                          

                  

         

19. Modal Saham 19. Capital Stock                                           

    

   

    

            

    

        

             

    



    

         



    











PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)       

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)    

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

  

          

                                      •                        •                                                                         

  

      



  

                                          •                     •                                       

                                          

  

          

  

      



  

 



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PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                                              •                               •                                             

                                        •                           •                                           

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                                                          

   

           

   

       



   

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                                                                                  

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                                                         



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

PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)                           

       

    

    

    

                                                                                                                     



        

    

                                                                                                      

20. Uang Muka Setoran Modal 20. Advances for Future Stock Subscription                                    



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

 



 

 

 









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

PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)                                                                                                

21. Tambahan Modal Disetor 21. Additional Paid in Capital                                                          

 

    

 

   







 

 

 

    

 

 

 

 

 



                         

            22. Sales

22. Penjualan



                    

    

  





 

 

 



          

    





















    



PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)                    23. Cost of Goods Sold

23. Beban Pokok Penjualan   





     

     

   

   

  

  

   

    

   

   

    

   

             





    

   

  24. Beban Penjualan, Umum dan Administrasi

             



  

  

24. Selling, General and Administrative Expenses

 

             



           

            



PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)       

              

25.

 

             

             

















   

   

  

  













              

                 



              

25. Earnings Per Share

Laba per Saham 




                  

                             

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


PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      26. Sifat Transaksi dan Saldo Pihak – pihak Berelasi

26. Transactions and Balances With Related Parties

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                                    

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 

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 

 

 

  

 



 

   



 

 



       

 

   

              

 

   

  

  

  

  

 

 







      

   

   

 





 













 





  

  

   



 

  

  

  

   









   

 

 





         





   











   



 







PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)       

        



PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)         

  

  



 

 

 

  





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                                                                                                                                                                                                                                                                                                                                                                                

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PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                                              

                                                                                    

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                                                                                  27. Taxation

27. Perpajakan

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        

 

 







  

  

  

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                                                   











     

                                                                           





PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)        

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)    

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

 

 

     

   

   

     

    

   

   

    

        

  



 

 





 

 

   







       



                                      







 

 





 













    

    

     





PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      

 

            

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)     

  

  





 

 

       

        

   

                                                            

        

    

   



 





   

    

   

   



        

                            



     

 

 

   

         

 

 

 





 

  








PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      28. Aset dan Liabilitas Moneter dalam Mata Uang Asing

28. Monetary Assets and Liabilities Denominated in Foreign Currencies

                                               

                                       

      



             

   

   

   

   

   

   

  

  

  

  

  

  

 

 

 

 

 

 

 

  

 

  

 

  

                

 

 

 

 

 

 

   

   

   

   

   

   

   

   

   

   

   

   

  

  

  

  

  

  

 

  

 

  

 

  

                     









29. Perjanjian-perjanjian Penting 29. Significant Agreements                                                                                      



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


PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)              

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        

                                                              

                                          

         •                           •                                                   •                             

         •                      

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                                                                      

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                                                

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                                  

                                                      

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PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)                                                                                                                                                                                                            30. Informasi Segmen Usaha 30. Segment Information                                             

  

  

 











   

   

   

   

   

























   










PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      

  

  

  

 













   

   

   

   

   

   





















 

           







   

 























  

    











































 

    

    

    



31. Manajemen Risiko Keuangan                              





   

31. Financial Risk Management                               

PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)      •                      •                     •                                                              •  •                                •                                                                         

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)    •    •                        •                                                                    •  •                                  •                                                                          

  

 













 

 

 

 

 

   





















 







  

 













 

 

 

 

 

   















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



                     

                                                   

                                                   

                                                        

                                               

       

        

   

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

                                   



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

 



   

     

    

                                

                             

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



PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)                                                                                                                                      

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                                                                                                32. Estimasi dan Pertimbangan Akuntansi yang Penting                                      





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                                                                         

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           

32. Critical Accounting Estimates and Judgements

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                                                     



PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                                                             

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                                                                                    

                                             

                 

                

                         

                                                           

                                     

         

                    



                                                    














                                                     



PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan)                                                                                     

PT INDOPOLY SWAKARSA INDUSTRY Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)                                                           

                                 33. Reclassification of Accounts

33. Reklasifikasi Akun

                                                                                                               

                  





  

  

  

  









      











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PT INDOPOLY SWAKARSA INDUSTRY Tbk PT INDOPOLY SWAKARSA INDUSTRY Tbk DAN ENTITAS ANAK AND SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED KONSOLIDASIAN (Lanjutan) FINANCIAL STATEMENTS (Continued)         34. Tanggung Jawab Manajemen atas Laporan 34. Management Responsibility on the Keuangan Konsolidasian Consolidated Financial Statements                                                 

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Corporate Information Indopoly combines knowledge, technology and ingenuity to maintain its cutting-edge competitiveness in the industry.


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Struktur Organisasi Organization Structure

Internal Audit Division

Bussiness Development And International Operations Division

Marketing Department

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Commercial Division

Purchasing Department


Operations Division

Manufacturing Department

HR And GA Department

Research And Development (Indonesia) Department

Struktur Organisasi Organization Structure

Board Of Commissioners

Audit Committee

Board Of Directors

Corporate Secretary

Research And Development Division

Research And Development (China) Department

Finance And Controller Division

Accounting Department

Accounting Department

Information Systems And Technology Department

Legal Department


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Dewan Komisaris Board of Commissioners

Felielyene Halim Presiden Komisaris President Commissioner Warganegara Indonesia, 57 tahun. Lulus sebagai Business Executive Diploma dari Thames College London pada tahun 1977. Menjabat sebagai Presiden Komisaris di PT Indopoly Swakarsa Industry Tbk. sejak tahun 2001. Indonesian citizen, 57 years old. Graduated with Business Executive Diploma from Thames College London in 1977. President Commissioner of PT Indopoly Swakarsa Industry Tbk. since 2001.

Ryan Permana Komisaris Commissioner Warganegara Indonesia, 53 tahun. Lulus dari Fakultas Ekonomi Universitas Indonesia, jurusan Akuntansi, pada tahun 1984. Menjabat sebagai Komisaris PT Indopoly Swakarsa Industry Tbk. sejak tahun 1998. Juga menjabat sebagai Komisaris di PT Supernova (2000-sekarang) dan PT Supernova Flexible Packaging (2000-sekarang). Staf Pengajar di Fakultas Ekonomi Universitas Indonesia (1986-sekarang). Indonesian citizen, 53 years old. Graduated from the Faculty of Economics at University of Indonesia ,major in Accounting, in 1984. Commissioner of PT Indopoly Swakarsa Industry Tbk. since 1998. Also, Commissioner of PT Supernova (2000present) and PT Supernova Flexible Packaging (2000-present). Teaching Staff at Faculty of Economics at University of Indonesia (1986-present).

Irawan Sastrotanojo Komisaris Independen Independent Commissioner Warganegara Indonesia, 57 tahun. Lulus sebagai Bachelor of Science dari De La Salle University, Manila, Filipina dengan konsentrasi di bidang Akuntansi dan Keuangan. Menjabat sebagai Komisaris Independen sekaligus Ketua Komite Audit Perseroan sejak tahun 2010. Juga menjabat sebagai anggota Supervisory Board of Putera Sampoerna Foundation (2006-sekarang). Sebelumnya, pernah menjabat sebagai Partner and Head of Transactions Advisory Services di KAP Purwantono, Sarwoko & Sandjaja, afiliasi dari Ernst & Young International (2002-2009) dan sebagai Audit Partner and Head of Transactions Advisory Services di KAP Prasetio, Utomo & Co, afiliasi dari Arthur Andersen & Co (1998-2002). Indonesian citizen, 57 years old. Graduated Bachelor of Science from De La Salle University, Manila, Philippines major in Accounting and Finance. Independent Commissioner and concurrently serves as Audit Committee Chairman of the Company since 2010. Also a member of Supervisory Board of Putera Sampoerna Foundation (2006-present). Previously held position of Partner and Head Transactions Advisory Services at KAP Purwantono, Sarwoko & Sandjaja, an affiliate of Ernst & Young International (2002-2009) and as an Audit Partner and Head Transaction Advisory Services at KAP Prasetio, Utomo & Co, an affiliate of Arthur Andersen & Co (19982002).

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Direksi

Board of Directors Henry Halim Presiden Direktur President Director Warganegara Indonesia, 62 tahun. Lulus sebagai Bachelor in Business Administration dengan konsentrasi di bidang International Business & Marketing dari McGill University, Montreal, Kanada pada tahun 1977. Pendiri Perseroan, telah menjabat sebagai Presiden Direktur sejak tahun 1995. Juga menjabat sebagai Chairman & CEO di Yunnan Kunlene Film Industries Co. Ltd. (1994-sekarang), Chairman & CEO di Suzhou Kunlene Film Industries Co. Ltd. (2001-sekarang), Presiden Direktur di PT Supernova (1995-sekarang), dan Presiden Direktur di PT Supernova Flexible Packaging (1995-sekarang). Indonesian citizen, 62 years old. Graduated Bachelor of Business Administration major in International Business & Marketing from McGill University, Montreal, Canada in 1977. The Founder of the Company, President Director since 1995. Also serves as Chairman & CEO of Yunnan Kunlene Film Industries Co. Ltd. (1994-present), Chairman & CEO of Suzhou Kunlene Film Industries Co. Ltd. (2001-present), President Director of PT Supernova (1995-present), and President Director of PT Supernova Flexible Packaging (1995-present).

Ronny Wuisan Wakil Presiden Direktur Vice President Director Warganegara Indonesia, 40 tahun. Lulus dari Universitas Petra, Surabaya jurusan Teknik Mesin. Menjabat sebagai Direktur Perseroan sejak tahun 1995 dan terakhir menjabat sebagai Direktur Pemasaran dan Operasi. Juga menjabat sebagai Wakil Presiden Direktur di PT Supernova (1995-sekarang) dan PT Supernova Flexible Packaging (1995-sekarang). Indonesian citizen, 40 years old. Graduated from Petra University, Surabaya major in Engineering. Director since 1995 and previously was Marketing and Operational Director. Also serves as Vice President Director of PT Supernova (1995-present) and PT Supernova Flexible Packaging (1995-present).

Kho Tiat Hong Direktur Director Warganegara Indonesia, 59 tahun. Lulus dari RWTH Aachen, Jerman jurusan Kimia pada tahun 1980. Menjabat sebagai Direktur Perseroan sejak tahun 1995 dan saat ini menjabat sebagai Direktur Teknik, Penelitian dan Pengembangan. Juga menjabat sebagai Direktur di PT Supernova (1997-sekarang) dan Direktur di PT Supernova Flexible Packaging (2001-sekarang). Indonesian citizen, 59 years old. Graduated from RWTH Aachen, Germany major in Chemistry in 1980. Director since 1995 and currently served as Director of Technical, Research and Development. Also serves as Director of PT Supernova (1997-present) and PT Supernova Flexible Packaging (2001-present).


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Direksi Board of Directors

Bambang Widjaja Direktur Director Warganegara Indonesia, 48 tahun. Lulus dari Universitas Satya Wacana jurusan Teknik Elektro pada tahun 1988 dan Master of Business Administration dari Institute of Management Semarang pada tahun 1995. Sebelumnya menjabat Factory General Manager, saat ini menjabat sebagai Direktur Manufaktur. Indonesian citizen, 48 tahun. Graduated from Universitas Satya Wacana major in Electrical Engineering in 1988 and holds Master of Business Administration from Institute of Management Semarang in 1995. Previously was Factory General Manager, currently serves as Manufacturing Director.

Leo Firdaus Direktur Director Warganegara Indonesia, 32 tahun. Lulus dari University of New South Wales, Australia jurusan Teknik Komputer pada tahun 2001. Bergabung dengan Suzhou Kunlene Film Industries Co. Ltd. sejak tahun 2002 sebagai Sales Executive dan terakhir menjabat sebagai Senior General Manager sebelum diangkat sebagai Direktur. Indonesian citizen, 32 years old. Graduated from University of New South Wales, Australia major in Computer Science in 2001. Joined Suzhou Kunlene Film Industries Co. Ltd. since 2002 as Sales Executive, previously was Senior General Manager before appointed as Director.

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Direksi Board of Directors

Pe Maria Indra Direktur Director Warganegara Indonesia, 44 tahun. Lulus dari Universitas Gadjah Mada jurusan Akuntansi pada tahun 1990. Sebelumnya berpengalaman di berbagai posisi keuangan selama lebih dari 20 tahun. Bergabung dengan Perseroan pada tahun 2009 sebagai Finance General Manager. Saat ini menjabat sebagai Direktur Keuangan. Indonesian citizen, 44 years old. Graduated from Universitas Gadjah Mada major in Accounting in 1990. Previously held finance positions for more than 20 years. Joined the Company in 2009 as Finance General Manager. Currently serves as Finance Director.

Jose Gonjoran Tan Direktur Tidak Terafiliasi Unaffiliated Director Warganegara Filipina, 43 tahun. Lulus sebagai Bachelor of Science in Commerce dari University of Santo Tomas, Filipina, jurusan Akuntansi pada tahun 1989. Bergabung dengan Perseroan sejak September 2010 sebagai Senior Advisor. Sebelumnya pernah menjabat sebagai Advisor & Audit Executive di KAP Purwantono, Sarwoko & Sandjaja, afiliasi dari Ernst & Young International (2003-2010) dan KAP Prasetio, Utomo & Co, afiliasi dari Arthur Andersen & Co (2000-2003). Philippine citizen, 43 years old. Graduated Bachelor of Science in Commerce from University of Santo Tomas, Philippine in 1989. Joined the Company since September 2010 as Senior Advisor. Previously held Advisor & Audit Executive at KAP Purwantono, Sarwoko & Sandjaja, an affiliate of Ernst & Young International (2003-2010) and at KAP Prasetio, Utomo & Co, an affiliate of Arthur Andersen & Co (2000-2003).


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Lembaga Profesional Professional Advisors

Kantor Akuntan Publik

Public Accountant

Kantor Akuntan Publik Aryanto Amir Jusuf Mawar & Saptoto Plaza ABDA Lantai 10 dan 11 Jalan Jenderal Sudirman Kav. 59 Jakarta 12190

Kantor Akuntan Publik Aryanto Amir Jusuf Mawar & Saptoto Plaza ABDA Lantai 10 dan 11 Jalan Jenderal Sudirman Kav. 59 Jakarta 12190

Biro Administrasi Efek

Share Registrar

PT. Raya Saham Registra Gedung Plaza Sentral, Lantai 2 Jalan Jenderal Sudirman Kav. 47-48 Jakarta 12930

PT. Raya Saham Registra Gedung Plaza Sentral, Lantai 2 Jalan Jenderal Sudirman Kav. 47-48 Jakarta 12930

Konsultan Hukum

Legal Counsel

Soemarjono, Herman & Rekan Jalan Sultan Agung No.62 Jakarta 12970

Soemarjono, Herman & Rekan Jalan Sultan Agung No.62 Jakarta 12970

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Kantor Pusat dan Pabrik

Head Office and Factories

Kantor Pusat

Head Office

PT Indopoly Swakarsa Industri Tbk. Wisma Indosemen Lantai 5, Jalan Jenderal Sudirman Kav. 70-71 Jakarta 12910, Indonesia Telp : (62-21) 251 0088 Fax : (62-21) 251 0460 Situs : www.ilenefilms.com

PT Indopoly Swakarsa Industry Tbk. Wisma Indosemen, 5th Floor, Jalan Jenderal Sudirman Kav. 70-71 Jakarta 12910, Indonesia Phone : (62-21) 251 0088 (Hunting) Fax : (62-21) 251 0406 Website : www.ilenefilms.com

Pabrik

Factories

PT Indopoly Swakarsa Industry Tbk. Blok 6, 7, 8 Sektor A-1 Kota Bukit Indah, Cempaka, Purwakarta 41118, Indonesia Telp : (62-21) 351 455 (Hunting) Fax : (62-21) 351 066 Email : [email protected]

PT Indopoly Swakarsa Industry Tbk. Block 6, 7, 8 Sector A-1 Kota Bukit Indah, Cempaka, Purwakarta 41118, Indonesia Phone : (62-21) 351 455 (Hunting) Fax : (62-21) 351 066 Email : [email protected]

Suzhou Kunlene Film Industries Co.Ltd. 368 Xing Long SIP, Suzhou 215126 Jiangsu Province P.R. China Telp : (86-512) 6283 3030 (Hunting) Fax : (86-512) 6283 3838 Email : [email protected]

Suzhou Kunlene Film Industries Co.Ltd. 368 Xing Long SIP, Suzhou 215126 Jiangsu Province P.R. China Phone : (86-512) 6283 3030 (Hunting) Fax : (86-512) 6283 3838 Email : [email protected]

Yunnan Kunlene Film Industries Co.Ltd. 10, Kun Ling Lu, Kunming Economic and Technological Development Zone, Nienjiezhuang, Guandu District Kunming 650217, Yunnan Province, P.R. China Telp : (86-871) 726 6661 (Hunting) Fax : (86-871) 726 5625 Email : [email protected]

Yunnan Kunlene Film Industries Co.Ltd. 10, Kun Ling Lu, Kunming Economic and Technological Development Zone, Nienjiezhuang, Guandu District Kunming 650217, Yunnan Province, P.R. China Phone : (86-871) 726 6661 (Hunting) Fax : (86-871) 726 5625 Email : [email protected]

Kantor Perwakilan Penjualan 9108 Hawthorn Dr Hickory Hills, IL 60457, U.S.A Telp : (1-708) 598 8789 Fax : (1-708) 598 8357 Email : [email protected]

Appointed Sales Representative: 9108 Hawthorn Dr., Hickory Hills, IL 60457, U.S.A Phone : (1-708) 598 8789 Fax : (1-708) 598 8357 Email : [email protected]

Roca 339 (B1846BBE) Adrogue, Argentina Telp : (54-11) 4293 4711 Fax : (54-11) 4293 4711 Email : [email protected]

Roca 339 (B1846BBE) Adrogue, Argentina Phone : (54-11) 4293 4711 Fax : (54-11) 4293 4711 Email : [email protected]


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Wisma Indosemen 5th Floor. Jalan Jenderal Sudirman Kav.70-71 Jakarta 12910, Indonesia Phone : (6221) 251-088 (Hunting) Fax : (6221) 251-0460 Website : www.ilenefilms.com

AT THE HEART OF ASIA S ECONOMIC GROWTH

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