INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
List of Contents INTRODUCTION 2 List of Contents 3 Theme of the Year 4 Disclaimer and Scope of Responsibility
HIGHLIGHTS 2016 6 PERFORMANCE 7 Financial Highlights 10 Share Highlights
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10 Share Performance 12 Milestones 14 Significant Events in 2016
MANAGEMENT REPORTS 18 Board of Commissioners’ Report 22 Profile of Board of Commissioners 24 Board of Directors’ Report 28 Profile of Board of Directors
30 MANAGEMENT REPORTS
DISCUSSION AND ANALYSIS 52 MANAGEMENT
33
Company Identity
54 Shipping Industry Outlook
34
Company in Brief
54 Operational Review
37
Vision, Mission, and Corporate Core Values
39
Corporate Structure
40
Structure of The Group
41
Composition of Share Ownership
42
Human Resources
44
Occupational Health and Safety
45
Information Technology
46
Supporting Professional Institutions
47
Addresses of Branch Offices and Agents
50
Work Area and Operational Map
60
59 Expansion, Divestment, Business Merger/ Consolidation, Acquisition, or Debt/Capital Restructuring Material 54 Operational Review on Business Segments Obligation For Goods and Capital Investment Performance Review in 2016 Investment 55 Income Statements 59 Amendment in Regulations 56 Solvability And Receivables Collectability 59 Amendment in Accounting Standards 57 Capital Structure And Policy On Capital 59 Structure Business Outlook 59 Marketing Aspects 59 Cash Dividend Policy and Distribution 59 Material Information on Investment,
GOOD CORPORATE GOVERNANCE 62 Overview
SOCIAL 78 CORPORATE RESPONSIBILITY
63 Structure of Corporate Governance
80 Social and Community Sector
63 General Meeting of Shareholders (GMS)
80 Employment Responsibility
66 Board of Commissioners 66 Board of Directors 69 Assessment on the Board of Commissioners 69 Assessment on the Board of Directors’ Performance 69 Table of Affiliation 70 Audit Committee 71 Corporate Secretary 73 Internal Audit 74 Public Accountant 74 Risk Management 75 Legal Disputes 75 Information of Administrative Sanction 75 Access to Corporate Information and Data 76 Whistleblowing System
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
OF 82 STATEMENT RESPONSIBILITY OF THE BOARD OF COMMISSIONERS AND BOARD OF DIRECTORS REGARDING THE 2016 ANNUAL REPORT
84 CONSOLIDATED FINANCIAL STATEMENTS
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
ENABLING INDONESIA THROUGH CONNECTIVITY Providing integrated solutions supported by innovative, competitive and reliable shipping service in Indonesia has become the Company’s solid commitment. Now, TEMAS Line has also been a pioneer in supporting the Government’s Sea Toll Program in order to realize the Republic of Indonesia as the Nation of strong Maritime Axis, through the opening of pilot ports in East Indonesia as the effort to improve interregional connectivity.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
Disclaimer and Scope of Responsibility This Annual Report contains statements of financial condition, operational results, projections, plans, strategies, policies, as well as the Company’s objectives, categorized as forward statements in the implementation of prevailing legislation, where historical things are exception. The statements have possibilities of risk, uncertainty, and can lead to actual developments that are materially different from the ones reported. Prospective statements in this Annual Report are based on various assumptions regarding current and future conditions, and also the Company’s business environment. The Company provides no guarantee that documents that have been validated will bring certain results as expectated. The Annual Report contains the words of “TEMAS Line” or “the Company” that are defined as PT Pelayaran Tempuran Emas Tbk that operates its business in providing services of goods delivery in containers by marine lines. The words are used on the basis of consideration for ease in addressing PT Pelayaran Tempuran Emas Tbk in general.
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
MANAJEMENT REPORT
COMPANY PROFILE
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
2016 PERFORMANCE HIGHLIGHTS The National Network is an initial strategic action developed by the Company.
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
COMPANY PROFILE
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
FINANCIAL HIGHLIGHTS (in million Rupiah)
DESCRIPTION
2016
2015
2014
Consolidated Statements of Financial Position Total Assets
2.525.662
1.782.061
1.626.838
Total Liabilities
1.530.986
967.395
1.092.953
994.676
814.666
533.885
Total Equities
(in million Rupiah)
Income Statement Sales Revenue
2016
2015
2014
1.671.905
1.621.364
1.522.131
Gross Profit
444.055
453.693
387.854
Operating Income
303.847
407.999
323.422
231.521
317.174
203.631
231.308
316.970
203.059
213
204
572
Net Income Total Comprehensive Income (Losses) Attributable to Owner of the Parent Entity Total Comprehensive Income (Losses) Attributable to Non-Controlling Interest
In %
Financial and Operating Ratios (%)
2016
Current Ratio
2015
2014
42,28
58,51
49,49
Debt to Equity Ratio
153,92
118,75
204, 72
Debt to Total Asset Ratio
60,62
54,29
67,18
9,17
17,80
12,52
Return on Assets Return on Revenue
13,85
19,56
13,38
Return on Equity
23,28
38,93
38,14
(in million Rupiah)
Others
2015
2014
321,402
284.175
270.104
Outstanding Shares (number of shares)
1.141.030.000
1.141.030.000
1.141.030.000
Weighted Average of Outstanding Shares (shares)
1.141.030.000
1.141.030.000
1.141.030.000
203
278
178
Sales Volume (TEUs)
Earning Per Share (Rupiah)
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2016
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
CHARTS OF FINANCIAL HIGHLIGHTS (In Million Rupiah)
2015
2015
1,530,986 967,395
2016
2014
1,671,905
1,621,364
1.522.131
994.676
2016
2015
2016
203,631
2015
231,521
2016
2014
2015
321,402
Sales Volume (TEUs)
317,174
Net Income
2014
2015
284,175
2014
2014
Sales Revenue
814.666
533.885
Total Equity
1,092,953
2,525,662
2016
270,104
2014
Total Liabilities
1,782,061
1,626,838 1,782,061
Total Assets
2016
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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2016 PERFORMANCE HIGHLIGHTS
INTRODUCTION
MANAJEMENT REPORT
COMPANY PROFILE
STOCK HIGHLIGHTS 2015 Period
2016
Highest (Rp)
Lowest (Rp)
Closing (Rp)
Average Volume
Highest (Rp)
Lowest (Rp)
Closing (Rp)
Average Volume
Q1
2,285
1,730
1,800
41,325,900
2,000
1,710
1,900
5,966,100
Q2
2,100
1,495
1,650
30,252,300
1,945
1,370
1,475
24,302,500
Q3
1,760
1,250
1,430
9,421,100
1,720
1,375
1,385
98,310,800
Q4
2,200
1,380
1,950
14,772,800
1,765
1,365
1,750
116,655,700
STOCK PERFORMANCE 6000
Closing Price (Rp)
Average Volume
5500
110.000.000
5000
100.000.000
4500
90.000.000
4000
80.000.000
3500
70.000.000
3000
60.000.000
2500
50.000.000
2000
40.000.000
1500
30.000.000
1000
20.000.000
500
10.000.000
0
0
2015 10
120.000.000
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
Closing Price Average Volume
2016
Closing Price Average Volume
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
MILESTONES
1987
2006 – 2012
Founded by Harto Khusumo and Koentojo, the Company was initially founded with KM Latoa as the first ship which was afterwards replaced by KM Teluk Mas.
The Company rejuvenated its fleet by reducing 12 units of ships and adding 23 units of ships, consisting of 6 units of used ships and 17 units of new building ships.
2002
2013
TEMAS Line received Adi Karya Bahari Pralabda Award from Minister of Transportation and Telecommunications for its achievement in Marine Transportation.
January
2003 The Company listed its shares on Indonesia Stock Exchange and became a public company with ticker code “TMAS”. In October 2015, Director of TEMAS Line, Mr. Harto Khusumo, received an award for Indonesian Best Entrepreneur from Ernst &Young for Entrepreneurial Spirit Category.
2004 The Company received Value Creator Award from SWA Magazine and MarkPlus & Co. for the category of best public companies with assets less than Rp1 trillion.
2005 Apart from being unanimously crowned as the Model of National Shipping Company in the year of 2005 by Ministry of Transportation of the Republic of Indonesia, The Company also received Value Creator Award (EVA) from SWA Magazine and MarkPlus & Co for its notable achievement in creating added value for its business.
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
The Company acquired 99.67% shares of PT Escorindo Stevedoring, a stevedoring company in North Jakarta that operates in Tanjung Priok Port, to improve the Company’s performance.
June To improve service quality to customers, the Company purchased 2,500 units of new Food Grade Container, specifically for transporting products of foods, beverages and pharmaceuticals.
2014 June The structure of the Company’s Executive Board changed to: Board of Directors: President Director Harto Khusumo Director Faty Khusumo
September 1.
The Handover of KM Spring Mas with capacity of 16,705 DWT - 1,560 TEUs.
2. Signing The MOU of Pendulum Route (sea toll) for the route of Belawan– Tanjung Priok–Tanjung Perak–Makassar–Bitung, to realize a continuous synergy among Shipping, Pelindo I (Belawan International Container Terminal), Pelindo III (Surabaya Container Terminal), and Pelindo IV (Makassar Container Terminal and Bitung Container Terminal).
October 1. Signed MOU to purchase 3,000 units of 20ft Food Grade and 500 units of High Cube container. 2.
Received an award from IPC (International Port Container) for the category of Best Shipping Line in Pontianak.
November Opened new route of JakartaDumai
Director Ganny Zheng
2015
Director Teddy Arief Setiawan
Signed an order contract of constructing 6 units of new ship to increase the Company’s capacity.
Board of Commissioners: President Commissioner Wong Chau Lin Independent Commissioner Edward Simangunsong Independent Commissioner Alfred Natsir
March
June 1. Opened a new route from Surabaya–Palu 2. PT Escorindo Stevedoring, the Company’s Subsidiary, signed purchase contract for 3 units of Harbor Mobile Cranes to further enhance the Company’s operation.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
September
December
1. The Company bought a shophouse in Banjarmasin as the Company’s Branch Office.
PT Olah Jasa Trisari Andal, the Company’s Subsidiary, signed purchase contract of 1 unit Reach Stacker to support the Company’s operation.
2. The Company’s Head Office moved to a new building.
2016 AUDITED FINANCIAL STATEMENTS
October The Company signed a Memorandum of Understanding (MoU) with PT Pelabuhan Tanjung Priok regarding Cooperation in Stevedoring Activities in Tanjung Priok Port.
November 1.
Obtained TOP Infrastructure Award 2015 for the category of TOP Infrastructure on Transportation 2015.
2. The Company purchased MV Sungai Mas ex PWM Valparaiso’s with the capacity of 28,876 DWT, 2,135 TEUs.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
SIGNIFICANT EVENTS IN 2016
January Delivery of MV Sungai Mas ex PWM Valparaiso with a capacity of 28,876 DWT, 2,135 TEUs.
April Sold KM Kedung Mas in order to rejuvenated Company’s fleet.
February 1. Delivery of KM Teluk Mas and KM Kisik Mas, 2 of 6 new building vessels. 2. Opening new routes of Timika and Merauke
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
May Received Investor Award for the category of Infrastructure Sector.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
June 1. 1. Delivery of KM Curug Mas and KM Bahar Mas, the 3rd and 4th fleet out of 6 new fleets in order. 2. Opening new route of Serui.
December
3. Opening new route of Kumai and Sampit.
October
Received an award as the Best GCG with A Predicate for Listed Companies in Transportation Sector from Economic Review.
Delivery of KM Sendang Mas ex Larentia with capacity of 38,121 DWT, 2,702 TEUs.
July Opening new route of Malahayati.
November 1. Delivery of KM Segara Mas ex Conti Emden with capacity of 38,103 DWT, 2,702 TEUs. 2. Delivery of KM Ayer Mas and KM Muara Mas, the 5th and 6th fleet of 6 new fleets in order. 3. Opening new route of Tual
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
MANAGEMENT REPORTS The realization of Government Programme in achieving sustainable and equitable development throughout Indonesia serve as motivation for Board of Directors to contribute for prosperity of Nations.
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
COMPANY PROFILE
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
REPORT OF THE BOARD OF COMMISSIONERS
Wong Chau Lin President Commissioner
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
MANAJEMENT REPORT
COMPANY PROFILE
MANAGEMENT DISCUSSION AND ANALYSIS
“
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
We, as the Board Commissioners voluntarily dedicate ourselves as an advisor and counterpart for Directors in determining important policies for Company.
Dear Valued Shareholders,
One of the influential parameters that greatly affected the Company’s achievement in 2016 came from national economic growth that reached 5%, which was particularly sufficient to constantly generate the domestic economy. A fairly restrained inflation and a relatively steady rupiah exchange to US Dollar contribute as well. Aside from the abovementioned factors, The other supporting factor, likewise, the price of fuel as the largest component of the Company’s operating cost remained constant. During 2016, domestic politics and security condition remained relatively under control, allowing the Company to run its activity well and carry out expansion for further development.
A different story happened in national shipping industry or domestic transportation. Supported by above mentioned parameters, domestic transportation, containerized shipping in particular, grew well. Growth in container freight was also encouraged by the Government program of Sea Toll policy, ports development and advancement, mainly in Eastern Indonesia. Nevertheless, the important thing for TEMAS Line was the competition factor among domestic providers of container transportation throughout the year 2016 that would certainly affect the Company’s performance. Board of Commissioners’ Performance
However, global economy for the year showed a contrast situation where its continued sluggish climate caused difficulties for some global shipping industries. Most of them were forced to downsize their business capacity. Those who did not survive would certainly cease to operate, and it was reflected on the sales of ships with cheap price in global market.
As mandated in the Articles of Association, the main duty of the Board of Commissioners is monitoring and supervising the Company’s operations carried out by the Board of Directors. The Board of Commissioners’supervision starts from planning to implementing aspects and provides corrective
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
action if required. In our Monthly Meeting, we have supervised financial. operational performances, and the performance of main production equipment (ships& tools).We have to ensure that Internal Control,Risk Management and Good Corporate Governance (GCG) are well implemented. In addition to our main duty, the Board of Commissioners also provides itself as an advisor, a counterpart for the Board of Directors in making Company’s important policies, such as addition of vessels, equipment, route opening, and feasibility study of investment. As for improving the human resources’ professionalism, integrity and competency, we would like to be the resourceful mentor. With the collaboration of the Board of Commissioners, Board of Directors and all the Company’s organs, it is expected that the Company could continue to grow in the midst of tighter competition, especially in the industry of domestic containerized shipping line.
Alfred Natsir Independent Commissioner
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
MANAJEMENT REPORT
COMPANY PROFILE
Evaluation on the Company’s Performance The Company’s key performance indicators in 2016 can be described as follows: cargo volume amounted to 321,402 TEUs, increased 13.10% if compared to 2015; net profit for the year was Rp231,521 million or down 27.01% from 2015; total cash was Rp32,968 million or higher 25.9% than cash in 2015; and total assets reached Rp2,525,662 million or increased 29.4% compared to 2015. These performance indicators in 2016 demonstrated that the Company has been in progress in carrying out the mission toward the dream vision. Addition of Main Production Equipment During the period of 2016, the Company has purchased 3 units of new large ships with capacity of 2,700 TEUs and 4 vessels with capacity of 360 TEUs, while renewing our fleet by selling 1 unit of unproductive ship. Therefore, at the end of 2016 the number of our owned fleet amounted to 31 units of ship with total capacity of 22,363 TEUs or grew 42.59% compared to 2015. Along with the vessels, the Company has also purchased supporting tool of 2 units of heavy equipment and additional 3,500 units of container
Wong Chau Lin President Commissioner
Edward Simangunsong Independent Commissioner
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
Outlook on Business Prospect We see an optimistic growth on domestic container transportation under favorable government policies that are supportive to economic improvement, including sea toll policy to prioritize and promote an integrated ocean freight, infrastructure development policy for the port in particular, simplification in licensing, new energy over tax amnesty policy, invitation to foreign investors for economic and infrastructure development, eradication and prevention of corruption, including in transportation sector. All of these create an optimism, mainly for domestic container transportation. Accordingly, the Company has set a strategy to seize the growing opportunities through providing a pendulum service of the nation, developing new services, adding vessels, tools and containers, planning efficient and effective shipping service. Organization policy and human resources development have also been prepared so as to make the Company more confident in welcoming the future success.
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Closing To end our report, the Board of Commissioners would like to convey appreciation and gratitude to the Board of Directors, all employees of TEMAS Line and Subsidiaries who have dedicated their hard work. Similar appreciation goes to the Shareholders and Government who always support, to PT Pelindo I, II, III, and IV, and subsidiaries for the given cooperation. To the customers for their trust to keep using the Temasline’s services, hopefully our partnership in the future could be better. In the end, together we can contribute for the advancement and prosperity of the Republic of Indonesia. Thank you.
On behalf of the Board of Commissioner,
Wong Chau Lin President Commissioner
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
PROFILE OF BOARD OF COMMISSIONERS
Wong Chau Lin President Commissioner She has served as President Commissioner of the Company since July 31, 1996, based on Decree of Extraordinary General Meeting of Shareholders (EGMS) Resolution No. 333, dated on July 31, 1996. As one of the founders of TEMAS Line, Wong Chau Lin previously served in several significant positions within the Company, such as Commissioner of TEMAS Line (1987–1996), President Commissioner of PT Pelayaran Tirtamas Express (2000–2003), and President Commissioner of PT PBM Olah Jasa Andal (2005–2012). Currently, she also serves as President Commissioner of PT Temas Lestari since 2002. She was graduated from Wellington College, Hong Kong (1972).
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Alfred Natsir Independent Commissioner He has served as Independent Commissioner of TEMAS Line since June 6, 2014, based on Decree of EGMS Resolution No. 26 dated on July 4, 2014. Graduated with Bachelor of Civil Engineering from ITB Bandung, he started his career as Employment Staff at Department of Transportation (1977); Planning Division Staff at Directorate General of Marine Transportation (1978); Head Division of Engineering and Project at Maluku and South Kalimantan Ports (1983); Head of Engineering Division at Perum Pelabuhan IV Makassar (1990); Head of Sub-Directorate of Port Building at Perum Pelabuhan IV, Makassar (1992); Senior Manager of Business Development at PT Pelindo IV, Makassar (2000); Director at PT Pelabuhan Indonesia IV (Persero), Makassar (2002-2009); and President Director at PT Pelabuhan Indonesia I (Persero), Medan (2011-2013).
Edward Simangunsong Independent Commissioner He has served as Independent Commissioner of the Company since June 28, 2010, based on Decree of EGMS Resolution No. 89 dated on July 15, 2010. He began his career as an auditor and financial consultant at KPMG Public Accountant Firm in 1978, and had served in significant positions, such as: Internal Audit to Controller at PT Dowell Schlumberger Indonesia (1983-1988); Finance/Adm/HRD at PT Orindo Alam Ayu (1989-1991); Director of PT CMC Bina Amsali (1992-1995); Technical Advisor at PT Pentasena Artha Sentosa (1991); and Corporate Finance Head at KPMG. (1996-1998) Currently, he serves as member of Audit Committee for TEMAS Line since 2003, also as Director and Founder of IPE Associates since 1998. Edward Simangunsong was graduated with Bachelor of Economics in 1981 and Master of Strategic Management in 2008 from University of Indonesia.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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PENDAHULUAN INTRODUCTION
2016 PERFORMANCE KILAS KINERJA HIGHLIGHTS
BOARD OF DIRECTORS’ REPORT
Harto Khusumo President Director
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
LAPORAN MANAJEMEN MANAJEMENT REPORT
PROFIL PERUSAHAAN COMPANY PROFILE
ANALISIS DANDISCUSSION MANAGEMENT PEMBAHASAN AND ANALYSIS MANAJEMEN
TATA KELOLA GOOD CORPORATE PERUSAHAAN GOVERNANCE
TANGGUNG JAWAB CORPORATE SOCIAL SOSIAL PERUSAHAAN RESPONSIBILITY
2016 AUDITED LAPORAN KEUANGAN FINANCIAL STATEMENTS
“
TEMAS Line has been the pioneer and continuously committed to supporting the Government’s program in realizing the Maritime Axis of the Nation through Sea Toll implementation aimed at reducing price disparity between western and eastern regions of Indonesia.
Dear Valued Shareholders, Time flies and we have passed through the year 2016. Therefore, we are grateful to God the Almighty that even under uneasy conditions, the Company could successfully move on with all the existing challenges. Our journey in 2016 was not easy, particularly in shipping industry. Global shipping industry underwent a challenging period due to slowdown in global economic growth at only 2.3% according to the World Bank. Decrease of global mining and offshore production created an impact on transportation industry in general, and shipping industry in particular. As the result, many of the world’s shipping companes experienced downsizing capacity. In fact, some world’s giant shipping companies suffered losses, or even bankruptcy. Slowdown in global economic growthand crisis in world’s shipping industry also influenced national shipping industry as well. However, the Company’s Board of Directors remained confident with Indonesia’s economic growth and development. Many infrastructure projects are currently in progress to support the Government’s Sea Toll Program. Furthermore, Indonesia’s Central Bureau of Statistics recorded that economic growth in Indonesia reached to 5.02%, while the economic growth in Maluku and Papua recorded at 13%. In this case, the Board of Directors could see the potential development, coupled with huge Indonesian population that mostly is within the category of young population. Thus, there is an opportunity for increased demand towards daily consumption needs, which requires thorough distribution lines, since Indonesia is an archipelago country connected by the sea.
The integrated and continuous improvement in infrastructure development by the Government is expected to facilitate the distribution flows of products and services nationwide, which in turn could reduce logistics cost from Sabang to Merauke. Realization of the Government Program for equal development in all regions of Indonesia becomes the driver for the Board of Directors to contribute for the developmet of the nation. Company’s Performance in 2016 The Company has implemented some strategic actions in order to participate supporting the Sea Toll Program initiated by the Government. The establishment of National Network is our initial strategic step in 2016, by opening 7 new ports of Timika, Merauke, Serui, Kumai, Sampit, Malahayati, and Tual. The opening of the ports certainly needs a fleet to provide route services, and therefore the Company has made investment by using its capital expenditures to add a number of fleets and other supporting equipment. The additional 3 large ships with capacity of 2,700 TEUs and 4 ships with capacity of 360 TEUs –as continued building project of 6 new ships in 2015– were prepared to support market penetration. Thus, the number of Company’s owned vessels increased to 31 units with total capacity of 22,363 TEUs compared to 2015 with 22 units with total capacity of 12,838 TEUs. The number of ports served also increased from 20 ports in 2015 to 27 ports in 2016. Other supporting facilities were also added, including containers, stevedoring equipment, and land for container depot. With the additional supporting facilities, the operational activities would be effectively and efficiently conducted.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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PENDAHULUAN INTRODUCTION
2016 PERFORMANCE KILAS KINERJA HIGHLIGHTS
By 2016, the Pendulum Service initiated in 2013 has been developed to become S4 Service and A3 Service. S4 Service with the route of BelawanJakarta-Surabaya-Makassar-Bitung-Palu, is served with 4 units of ships, and A3 Service with the route of Belawan-Jakarta-Surabaya-Makassar-Ambon, is served with 3 units of ships in the first quarter of 2017. Meanwhile, small-sized ships will serve as feeder service/loop service to smaller ports. From financial side, compared to 2015 the Company’s Service revenue increased 3.15% at the end of 2016, from Rp1,621 billion to Rp1,672 billion. While Income attributable to the Owner of Parent Entity declined 27.01%, from Rp316.9 billion in 2015 to Rp231.3 billion in 2016. The decline of Company’s Income was due to market penetration for some new ports’ service, where the price experienced a significant decline. New acquired ships were not also able to generate revenue in such a short time. The Company’s total assets reached Rp1,782 billion in 2015 to become Rp2,525.6 billion or increased 41.73% in 2016.
Faty Khusumo Direktur Pengelola
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
Teddy Arief Setiawan Direktur Komersial
LAPORAN MANAJEMEN MANAJEMENT REPORT
PROFIL PERUSAHAAN COMPANY PROFILE
To provide timely shipping schedule, we have always cooperated with Pelindo and Port Operator to improve stevedoring performance in all ports. Accordingly, the Company has signed a Memorandum of Understanding (MOU) of Pendulum Service with five Port Operators of Terminal Petikemas Domestik Belawan (TPKDB), Pelabuhan Tanjung Priok (PTP), Terminal Petikemas Surabaya (TPS), Terminal Petikemas Makassar (TPM) and Terminal Petikemas Bitung (TPB). With this collaboration of the Company and five Port Operators, it is expected that the customers have an assurance regarding the service schedules provided by the Company, to help them making better planning for their business activities.
Harto Khusumo Direktur Utama
Ganny Zheng Direktur Keuangan
ANALISIS DANDISCUSSION MANAGEMENT PEMBAHASAN AND ANALYSIS MANAJEMEN
TATA KELOLA GOOD CORPORATE PERUSAHAAN GOVERNANCE
TANGGUNG JAWAB CORPORATE SOCIAL SOSIAL PERUSAHAAN RESPONSIBILITY
2016 AUDITED LAPORAN KEUANGAN FINANCIAL STATEMENTS
Business Prospect With the implementation of Pendulum Service S4 and A3 that connects all Port Hubs with consistently scheduled ships, interisland goods distribution in the entire regions of Indonesia will be better, coupled with future developed routes that will realize an integrated Sea Toll and quicker transit time of delivery. Goods distribution from economic centres will reach out to remote areas so that logistics cost could really be reduced and price disparity between the center and the regions, western and eastern regions of Indonesia, can be decreased. The wheels of economy will spin faster and prosperity can be equally realized. Backed by 31 fleets of vessel with total capacity of 22,363 TEUs serving 27 ports throughout Indonesia, the Company can offer more alternatives to customers, so that demand for services to remote areas and small ports can be fulfilled properly. The Company’s National Network that is in progress and will continue to be carried out, is our contribution to realize more varied limitless connectivity for marine cargo transportation of Indonesia’s Sea Toll. The Company will continue to innovate and create solutions for logistics industry and distribution of economic goods.
With the new investment, TEMAS Line will stand strong to realize Fixed Schedule and On-Time Delivery throughout Indonesia, in which it has been the long expectation in the National Logistics Industry. Therefore, we invite all relevant parties, from customers, port operators, regulators, employees and ship crews, to build a synergized cooperation in realizing Indonesia as the strong maritime country. In closing, the Board of Directors would like to convey deepest gratitude to all Stakeholders, Directorate General of Sea Transportation, Pelindo, INSA, Bureau of Classification, Customers and Suppliers for the support and cooperation over the time. Our high esteem is also provided to all Employees, Crews and the Big Family of Temasian for the contribution and hard work through this time. May God the Almighty always bless each of our efforts and works.
On behalf of the Board of Directors,
Harto Khusumo President Director
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
PROFILE OF BOARD OF DIRECTORS
Harto Khusumo President Director He served as President Director of the Company since December 16, 2002, based on Decree of AGMS Resolution No. 23. He had previously served in several positions, such as Commissioner at PT Dermaga Emas Jaya (19891990); Director at TEMAS Line (1987-2002); Director at PT Pelayaran Tirtamas Express (2000-2003); and President Director at PT Temas Lestari (2002-2003). Currently, Harto Khusumo also serves as Commissioner at PT Bongkar Muat Olah Jasa Trisari Andal (since 2003); Commissioner at PT Pelayaran Tirtamas Express (since 2003); and Commissioner at PT Temas Lestari (since 2003). He was awarded as Entrepreneur of the Year for Entrepreneurial Spirit from Ernst & Young in 2003. He was graduated from senior high school in Surabaya in 1965.
Faty Khusumo Managing Director She was appointed as Director of the Company since June 6, 2014, based on Decree of AGMS Resolution No. 26 dated on July 4, 2014. Faty Khusumo started her career as Commissioner at PT Pelayaran Tirtamas Express (19932003), then as Commissioner at PT Olah Jasa Andal (1997-2012), Commissioner of PT Pelayaran Tempuran Emas (1999-2002), and Director at PT Tempuran Emas (2002-2003). Currently, she has also served as President Director of PT Temas Lestari (since 2003). Faty Khusumo was graduated as Bachelor of Business Administration from Pepperdine University, Malibu, CA, USA (1998) and received her Master of Corporate Finance from Case Western Reserve University, Cleveland, Ohio, USA (1999).
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Ganny Zheng Financial Director He was appointed as Director of the Company since June 6, 2014, based on Decree of AGMS Resolution No. 26 dated on July 4, 2014. Ganny Zheng started his career as Accounting Staff at Stein Devisser & Mintz, New York, USA (1996-1999); and had served as Account Manager at Intergraph, Singapore (1999-2003). Currently, he is also appointed as Director of PT Pelayaran Tirtamas Express since 2003. Ganny Zheng was graduated with Bachelor of Mechanical Engineering from Rutgers University, New Jersey, USA, 1996, and Master of Business Administration in Finance and Investment from Zicklin School of Business, City University of New York, USA, 1998.
Teddy Arief Setiawan Commercial Director He has served as Commercial Director of the Company since June 30, 2011, based on Decree of Meeting Resolution No. 44 dated on July 12, 2011. He had previously served in some significant positions, such as Site Engineer at PT Aldy Karya Utama (1994-1995), Project Engineer at Geo Optima Inc. (1995-1997), Field Manager at PT Zurich Life Insurance Indonesia (1998-2001) and Site Manager of PT Borpiling Lestari (19971998). He then joined TEMAS Line in 2001 as Business Development & Head of Marketing, and later was trusted as General Manager Liner. Teddy Arief Setiawan is an expertise in planning and marketing division for both industrial and services sectors, with Bachelor of Civil Engineering degree from National Institute of Science and Technology (1996).
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
29
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE The continuous support from 31 vessels of ours with their capacity of 22,363 TEUs has been a great help for us to serve 27 ports in Indonesia. Moreover, Company can also provide a lot of choices for Customers so that all their needs in almost all regions of Indonesia notwithstanding the small ports can be well achieved.
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
COMPANY PROFILE
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
31
INTRODUCTION
32
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
COMPANY IDENTITY
Company’s Name
Line of Business
Date of Establishment
PT Pelayaran Tempuran Emas Tbk
Shipping
Established on September 17, 1987, under the name of PT Tempuran Emas
Non-Management • PT Temas Lestari: 80,84%
Ownership
Management • Wong Chau Lin: 0,01% • Harto Khusumo: 0,02% • Teddy Arief Setiawan: 0,01% • Ganny Zheng: 0,40% Publik: 18,72%
Deed of Establishment
Authorized Capital
Issued and Paid-Up Capital
Office Address
Decree No. C2-2545.HT.01.01.TH’88 dated on March 22, 1988
Rp570.000.000.000
Rp142.628.750.000
PT Pelayaran Tempuran Emas Tbk Jakarta Head Office Jl. Yos Sudarso Kav. 33 Sunter Jaya, Tanjung Priok Jakarta 14350 Phone : (62-21) 430 2388 Fax : (62-21) 4393 8658 Email :
[email protected] Website : www.temasline.com
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
33
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
TEMAS LINE AT GLANCE
T
he Company’s involment in shipping industry dated back to the time when Harto Khusumo and Koentojo agreed to set up a first shipping company in Indonesia that pioneered in containerized cargo delivery via sea transportation, under initial name of PT Tempuran Emas on September 17, 1987. Six years later, the Company managed to transform into a public company by joining the Indonesia Stock Exchange in 2003 with the name of TEMAS Line and stock code of “TMAS”. TEMAS Line listed its shares on June 25, 2003, through offering 451,000,000 shares, making the Company first national containerized shipping line listed in the Indonesia Stock Exchange since July 9, 2003. The Company’s name then changed into PT Pelayaran Tempuran Emas Tbk until today. The Company initiated its business through the provision of container transportation services by rental vessels. TEMAS Line’s rapid growth required the Company to keep on strengthening its position and competitiveness in the industry. Growing number of fleet and more expansive range of services have become TEMAS Line’s service excellence, backed by
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
heavy equipment of stevedoring activities, such as Harbour Mobile Crane (HMC), Reach Stakers, Empty Container Handler and Forklift Container. Today, the Company has become one of leading companies in Indonesia’s shipping industry, providing integrated services with modern fleet of ships and supporting owned equipment. In line with the dynamics of national shipping industry development, the Company continues to expand its services by developing the business lines of shipping management, agency, and stevedoring services that are operated through four Subsidiaries, namely PT Olah Jasa Trisari Andal that is engaged in depots management; PT Pelayaran Tirtamas Express in shipping management; Anemi Maritime Co. Ltd. (Anemi) in lease of containers management; and PT Escorindo Stevedoring in stevedoring services. Not only its services, the Company’s network and shipping routes also continues to be expanded to the entire country. Until the end of 2016, the Company has 12 (twelve) branch offices in Jakarta, Ambon, Banjarmasin, Belawan, Bitung, Jayapura, Makassar, Pekanbaru, Pontianak, Surabaya, Sorong,
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
and Samarinda, as well as establishing 15 (fifteen) agencies in Malahayati, Batam, Dumai, Palembang, Sampit, Kumai, Balikpapan, Palu, Kupang, Manokwari, Tual, Timika, Merauke, Biak and Serui. Consequently, the number of fleet and supporting facilities are also growing. Up to the year 2016, the Company’s total owned containers have reached 30,631 units, consisting of 9,421 units of food grade containers and 21,210 units of non-food grade containers. The number of the fleet reached 31 ships with a total cargo capacity of 22,363 TEUs.
Line of Business
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Products and Services The Company is engaged in transportation business, especially marine transportation services that provide containerized goods delivery. Services offered include managing container transportation and stevedoring services nationwide. The marine transportation business is implemented in the main ports centralized in Jakarta, Surabaya and Makassar. Whereas the containerized commodities are mainly rice, flour, sugar, cement, also vehicles and other cargos usually shipped by containers.
According to Article 3 of the Company’s Articles ofAssociation, the business activity of TEMAS Line is tomanage shipping services, to initiate and to organize anational shipping company engaged with transportation ofgoods, vehicles, passengers, and animals, with ships, bothwithin and outside the country.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
35
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
TABLE OF VESSELS
Name of Vessels KM SENDANG MAS
Capacity (TEUs)
Age of Vessel
Year of Acquisition
38,121
2,702
11
2016
KM SEGARA MAS
38,103
2,702
10
2016
KM. SUNGAI MAS
28,876
2,135
17
2016
KM. SPRING MAS
24,341
1,560
18
2015
KM SELAT MAS
18,106
1,048
20
2014
KM STRAIT MAS
18,106
1,048
21
2014
KM LAGOA MAS
8,753
538
7
2008
KM KUALA MAS
8,700
538
7
2009
KM BELIK MAS
8,180
558
3
2012
KM HILIR MAS
8,180
558
3
2012
KM KANAL MAS
8,180
558
3
2012
KM TASIK MAS
8,180
558
3
2012
KM TELAGA MAS
8,180
558
3
2012
KM UMBUL MAS
8,180
558
3
2012
KM WARIH MAS
8,180
558
3
2012
KM ESTUARI MAS
8,100
537
6
2009
KM JALES MAS
8,100
537
5
2010
KM KALI MAS
8,100
537
6
2009
KM MARE MAS
8,100
537
6
2009
KM. TELUK MAS
5,300
360
0
2016
KM. KISIK MAS
5,300
360
0
2016
KM. PALUNG MAS
5,300
360
0
2016
KM. GULF MAS
5,300
360
0
2016
KM. CURUG MAS
5,300
360
0
2016
KM BAHAR MAS
5,300
360
0
2016
KM. AYER MAS
5,300
360
0
2016
KM. MUARA MAS
5,300
360
0
2016
KM SEGORO MAS
5,252
296
11
2004
KM SAMUDERA MAS
5,222
296
11
2004
KM GUHI MAS
5,200
283
7
2008
KM LAGUN MAS
5,200
283
7
2008
336,040
22,363
10,840
721
TOTAL AVERAGE
36
Deadweight (Tons)
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
6
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Visi To become the No. 1 ShippingCompany in Indonesia by 2017.
Misi To provide innovative, competitive and reliable shipping service in Indonesia and to professionally serve the customers in order to generate maximum profit for the stakeholders.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
CORPORATE CORE VALUES Professional
Enthusiasm
To engage in the assigned duty and responsibilities in accordance with their expertise and skills.
To continuously strive and be vivacious in attaining achievement and meeting all targets.
Effective To achieve target performance in a timely manner by utilizing all existing resources.
Discipline
Innovative
To comply and conform to the prevailing rules and procedures in all activities.
38
Loyalty To be fully dedicated in developing the Company and attaining mutual welfare.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
To generate new and unique ideas or actions in every activity for the development of the Company.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
CORPORATE STRUCTURE Board of Commissioner President Commissioner
:
Independent Commissioner :
Wong Chau Lin : • Edward Simangunsong • Alfred Natsir
Chairmain of Audit Commitee
Edward Simangunsong
Head of Internal Audit
Susan Natalia
President Director
Harto Khusumo
Directors Managing Director
: Faty Khusumo
Commercial Director
: Teddy Arief Setiawan
Finance Director
: Ganny Zheng
Corporate Secretary
Marthalia Vigita
LEGAL
Operation & Marketing
Finance & Accounting
HR GA
Liner Operation
System & Ship Management Ship Management
Finance & Treasury
Human Resources
Operation Development
System Management Accounting & Tax
Organization & People Development
Controller
General Affairs
Container & Depot Mgmt
Branches
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
39
2016 PERFORMANCE HIGHLIGHTS
INTRODUCTION
MANAJEMENT REPORT
COMPANY PROFILE
STRUCTURE OF COMPANY’S GROUP Temas Lestari
80.84% Publik
19.16%
PT Pelayaran Tempuran Emas Tbk
0.31% Harto Khusumo
99.69% PT Pelayaran Tirtamas Express
99.80% Anemi Maritime Co.Ltd
99.00% PT BM Olah Jasa Trisari Andal
99.67% PT Escorindo Stevedoring
0.33% 0.20% 1.00%
Harto Khusumo
STRUCTURE OF COMPANY’S GROUP 19.16%
80.84%
PT Temas Lestari Public
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
TABLE OF SHAREHOLDERS’ COMPOSITION Shareholders
Shareholding (%)
Shares Issued and Fully Paid
Amount (Rp)
(Par value of Rp125) Non Management PT Temas Lestari
80.84
922,452,956
115.306.619.500
Management Wong Chau Lin
69,500
0.01
8.687.500
Harto Khusumo
246,532
0.02
30.816.500
110,680
0.01
13.872.500
4,523,545
0.40
565.443.125
Public
213,626,787
18.72
26.703.310.875
TOTAL
1,141,030,000
100
142.628.750.000
Teddy Arief Setiawan Ganny Zheng
SHAREHOLDERS COMPOSITION Line of Business
Operational Status
Ownership (%)
PT Perusahaan Bongkar Muat Olah Jasa Trisari Andal
Depot Management Services
Operating
99,00
PT Pelayaran Tirtamas Express
Shipping Management
Operating
99,69
Stevedoring Services
Operating
99,67
Container Leasing
Operating
99,80
Subsidiary
PT Escorindo Stevedoring Anemi Maritime Co. Ltd. SHARE LISTING CHRONOLOGY Description
Listing Date
Number of Additional Shares
Number of Accumulative Shares
Initial Public Offering
9 Juli 2003
55.000.000
55.000.000
Listing
9 Juli 2003
396.000.000
451.000.000
19 Juli 2005
45.100.000
496.100.000
17 Maret 2006
496.100 000
992.200.000
3 Juli 2006
148.830.000
1.141.030.000
Bonus Share Stock Split Stock Dividend
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
HUMAN RESOURCES DEVELOPMENT
I
n line with the Company’s business growth marked by increasing number of fleet and shipping lines, TEMAS Line is constantly working to organize and manage reliable and professional human resources (HR) in order that the whole business unit’s activities can operate optimally. Thus, the productivity and effectiveness of TEMAS Line performance will continue to grow and increase. Consistently, the Company continues the development program and performance improvement, especially in providing a satisfactory operational excellence to all customers. The operational excellence can only be provided by reliable, loyal, competent and highly dedicated manpower. Not only as the Company’s human capital to achieve the vision and mission, the Company’s employees are also the Company’s major asset in improving competitiveness in the middle of business dynamics and challenging tighter competition.
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
In order to develop its employees, the Company has set competence standards and qualifications for each key function in the Company’s organization as a shipping company. In general, the competence standards applied in the Company include Core Competence, as the basic competence the entire employees should own; Functional Competence, as a competence with specific roles and functions; and Leadership Competence, which should be owned by leaders in the organization of the Company. All competence standards are the elaboration of the Company’s business requirement and objectives in short, medium and long terms. For the implementation of Human Resources development program, during 2016 the Company has allocated a total of Rp363 million, covering for various forms of training, such as managerial training, soft skill training and technical training. Until the end of December 2016, the total of the Company’s employees who participated training or development program reached to 134 persons, or about 18% of the overall Company’s employees.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
COMPOSITION OF THE EMPLOYEES Position
2016 At Office
In Vessels
15
Directors’ Management
Total 15
2
General Manager
2015 In Vessels
14
2
5
109
35
Total 14 5
Manager/Equal to Manager
47
Supervisor/Equal to Supervisor
59
59
54
54
Staff
364
364
246
246
Non-Staff
250
Officer/Engineer Rating Trainee 737
Total
62
At Office
46
81
250
295
185
185
-
132
295 132
309
309
-
220
220
55
55
-
42
42
611
1,348
649
440
1,089
Based on Education Education
2016 At Office
In Vessels
2015 Total
In Vessels
Total
> Master Degree
17
56
73
13
30
43
Bachelor Degree
211
185
396
174
43
217
Diploma
70
17
87
58
84
142
404
350
754
369
280
649
Senior High or Equivalent < Senior High Total
35
3
38
35
3
38
737
611
1,348
649
440
1,089
Based on Employement Status Employement Status
2016 At Office
In Vessels
2015 Total
In Vessels
410
367
Total
Permanent
410
367
Temporary
327
611
938
282
440
722
Total
737
611
1,348
649
440
1,089
Employee Turnover Rate Employee turnover rate shows the Company’s effort in creating a conducive work environment for the whole employees. Through the following table, the total of employee turnover rate during the year 2016 amounted to 135 employees, or 10.01% of the total Company’s employees.
Reasons Retired Resigned Passed Away Total
Total
Percentage (%)
4
0.5
130
17.6
1
0.1
135
18.3
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
OCCUPATIONAL HEALTH AND SAFETY (OHS) Shipping activity has a close relation with occupational health and safety factor that is very important to the success of a company’s business growth and sustainability. In order to realize its commitment and determination, TEMAS Line continually strives to improve the productivity of their employees through the implementation of a management system for Occupational Health and Safety (OHS). The Company applies the OHS provisions based on the rules contained in the International Safety Management (ISM) Code issued by the International Maritime Organization (IMO), an agency under the United Nations. The Company has also been certified with the Document of Compliance (DOC) and Safety Management Certificate (SMC) for each of its owned vessels. In every shipping activity, the Company always applies strict procedures as an effort in preventing potential and possibly detrimental incidents. The OHS procedure is implemented
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
through various activities in regular basis, such as fleet inspection and supervision, provision and distribution of protective tools, installation of safety marking in ships, safety equipment against fire accident, as well as preparation and anticipation for emergency situations. Periodically, the Company also conducts OHS training and crew assistance. Beside the application of standard safety procedures, the ISM Code also requires that the crews in charge are in good physical and mental condition all the time. Therefore, medical examination is always carried out for every crew to acquire notification letter of health that must be updated within a certain period. Thanks to the application of standard safety procedures, the number of work accidents or incidents that can harm the Company’s shipping operation can be reduced. As the result, throughout 2016 TEMAS Line has never suffered work accident or harmful incident in its shipping operation.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
INFORMATION TECHNOLOGY The Company’s business success could not be apart from a reliable information technology support. For the Company as a services provider, information technology becomes one of the main keys in accelerating information and performing effectiveness that leads to increase the level of customer satisfaction. Therefore, the utilization of latest, appropriate, and integrated information technology becomes the Company’s priority in the information technology sector in relation with the shipping industry. Currently, TEMAS Line has activated “TEMAS Accurate” system that serves to closely monitor an operated container’s position. By applying this system, the movement of a container can be monitored in real time. Also, forecast calculation for container availability can be measured precisely, and estimation on demurrage, detention, and storage can be more accurately to reduce the risk of losses. More than that, this container tracking system has been applied into mobile version so it can be accessed online through various gadgets.
The development of the Company’s information technology is also implemented to the financial services system through the application of Oraclebased “I-FAST” program for accounting and finance recording system that enables to produce more integrated and efficient financial statements. Maintenance process for vessels will also be more measured and controlled withShip Management System. In addition, customers are also facilitated with monitoring feature towards container movement and automation in transaction of renting container from email and sms notification. The internal development of information technology is implemented through upgrading EDI (Electronic Data Interchange) in the entire branches of the Company, and ERP system that integrates commercial, operational, management, and human resources sections with the finance division towards the whole activities of the Company and Subsidiaries so that the consolidation of Temas Group becomes faster and easier. In addition, we enhance the VOIP quality to increase efficiency in communication costs.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
SUPPORTING PROFESSIONAL INSTITUTIONS Share Registrar PT ADIMITRA JASA KORPORA Rukan Kirana Boutique Office Jl. Kirana Avenue III Blok F3 No. 5 Kelapa Gading Jakarta Utara 14250 Notary Office HERDIMANSYAH CHAIDIRSYAH, S.H. Jl. Pelepah Elok 1 Blok. QA 2 No. 12 Kelapa Gading Jakarta Utara 14240 SRI ISMIYATI, SH., M.Kn Rukan Artha Gading Niaga, Blok B, No. 7-8 Jl. Boulevard Artha Gading, Kelapa Gading Barat, Jakarta Utara ESTER A. FERDINANDUS, SH Jl. Boulevard Barat Raya Blok C-67 Komplek Plaza Kelapa gading Ruko Inkopal, Jakarta Utara Dr. IRAWAN SOERODJO, SH. MSi Jl. K.H. Zainul Arifin No.2 Komp. Ketapang Indah Blok B-2, No. 4-5, Jakarta 11140 MYRA YUWONO Jl. Kyai Maja Blok E No. 11A Kebayoran Baru Jakarta Selatan 12120 STEPHANIE WILAMARTA, SH., MH Jl. Raya Boulevard Barat Plaza Kelapa Gading Blok G No. 5 Kelapa Gading Jakarta Utara BADARUSYAMSI, SH., MKn Komplek Ruko Mutiara Faza Blok RD4 Jl. Raya Condet No. 27, Jakarta Timur 13760
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
ANTONIUS WAHONO. P,SH Gedung Maspion Plaza Lt.3, Unit 3A Jl. Gunung Sahari Raya Kav. 18 Jakarta Utara 14420
RUDY SISWANTO, SH Plaza Maspion Lt. 6-H, JL. Gunung Sahari Raya Kav.18, Pademangan Barat Jakarta Utara 14420 AGUSTINA DJUNAEDI, SH Jl. Wolter Monginsidi, RT.1/RW.4, Petogogan, Kebayoran Baru Jakarta Selatan 12170 ANITA ANGGAWIDJAJA, SH Jl.Genteng Kali 77A Surabaya, Jawa Timur 60275 Rating Agency KJPP Iwan Bachron & Rekan Pusat Niaga Duta Mas Fatmawati Blok D1 No. 29 Jl. RS. Fatmawati Raya No. 39 Jakarta 12150 Public Accountant KAP Purwantono, Sungkoro & Surja Gedung Bursa Efek Indonesia Tower II, Lantai 7 Jl. Jendral Sudirman Kav. 52-53 Jakarta Banking PT Bank Mandiri (Persero), Tbk. PT Bank Syariah Mandiri (Persero) PT Bank Danamon Indonesia, Tbk. PT Bank Nasional Indonesia (Persero) Tbk
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
ADDRESS OF BRANCH AND AGENCY OFFICES Branch Offices’ Address Ambon Gd. PT Pelabuhan Indonesia IV Ambon, LT.1 Phone. (+62-911) 353 055, 348 880 Fax. (+62-911) 34179
Pekanbaru Jl. Nenas/Utama No. 19A-2 Kel. Jadirejo Kec. Sukajadi, Pekanbaru 28113, Indonesia Phone. (+62-761) 23 624 Fax. (+62-761) 27 291
Banjarmasin JL. Soetoyo S, RT 1 RW 1, No.1 Kel. Telaga biru, Kec. Banjarmasin Barat Banjarmasin 70119 Phone. (0511) 336 4038 Fax. (0511) 336 4125
Pontianak Jl. Gusti Hamzah No.8 Pontianak 78117, Indonesia Phone. (+62-561) 747 703 Fax. (+62-561) 746 274
Belawan Jl. Krakatau Simpang Cemara No.A-4 Kel. Pulo Brayan Barat, Kec. Medan Utara Medan 20238 Phone. (+62-61) 663 1102 Fax. (+62-61) 663 4739
Surabaya Jl. Perak Timur No 216-A Surabaya 60165 Phone. (+62-31) 328 2525 Fax. (+62-31) 328 2524
Bitung Jl. 46 S.H. Sarundajang Kel. Bitung Barat 2, Kec. Maesa Kota Bitung Sulawesi Utara 95512 Phone. (+62-438) 36747, 31255 Fax. (+62-438) 32357
Samarinda Jl. Untung Suropati Blok C No. 3 Samarinda, Kalimantan Timur Phone. 085230100355
Jayapura Jl. Argapura Kanon No. 8 RT. 03 RW. 01 Kel. Argapura, Kec. Jayapura Selatan 99222 Phone. (+62-967) 521271 Fax. (+62-967) 550924
Sorong Jl. Ahmad Yani Kuda Laut Komp. PT. Perikanan Nusantara Ex. Usaha Mina Sorong Kota. Papua Barat 98414 Phone. (+62-778) 751 3899, 705 9838 Fax. (+62-778) 412 750 Samarinda
Makassar Jl. Sultan Abdullah No. 75 Makassar 90212, Indonesia Phone. (+62-411) 457 324, 457 325, 446 153, 446 013 Fax. (+62-411) 446 154
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
Agency Offices’ Address
48
Batam Mega Cipta Industrial Park Blok A No. 3 Batu Ampar, Batam Phone. (+62-778) 751 3899, 705 9838 Fax. (+62-981) 21608
Palembang Jl. AKBP Cek Agus 1344 F Palembang Phone. (+62-711) 369 920, 367 997 Fax. (+62-711) 364 451
Malahayati PT Pelayaran Sea Asih Lines Jl. Sultan Iskandar Muda, Punge Ujung, Kec. Meuraxa Banda Aceh 23234 Phone. 08126962990
Biak Jl. Jend. Sudirman No.6 Biak, Papua Phone. (+62-981) 21724 Fax. (+62-981) 21608
Balikpapan PT Armada Samudera Raya Jl. Arjuna No. 9 - Samarinda Phone. (+62-541) 707 8452 Fax. (+62-541) 203 020
Sampit PT Lintas Mitra Bahari Jl. A. Yani No. 12 Sampit, Kalimantan Tengah Phone. 0531-31343
Dumai Jl. Jendral Sudirman No. 318 Dumai - Riau Phone. (+62-765) 439 660 Fax. (+62-765) 439 663
Timika PT. Pelayaran Tempuran Emas Tbk Jl. Hasanudin Timika, Papua Phone. (+62-971) 323250 Fax. (+62-21) 411 876
Kumai PT Pelayaran Haluan Segara Line Komp. Kumai Damai, Gg. Rambutan No. 40 Kel. Sei Tendang, Kec. Kumai Kobar Kalimantan Tengah 74181 Phone. 0532-23648
Kupang PT Taruna Kusan Kupang Jl. Sunan Gunung Jati No. 18, Nusa Tenggara Timur Phone. (+62-380) 832 115 Fax. (+62-380) 831 718
Palu PT Metta Maju Perkasa Jl. Sungai Lewara 37,Palu, Sulawesi Tengah Phone. (+62-21) 411 800 / 411 880 Fax. (+62-21) 411 876
Tual PT Dharma Indah BTN UN Indah Blok D/23 Tual, Maluku Phone. 081343023095
Manokwari PT. Luas LINE Jl. Siliwangi No. 11 Manokwari Phone. (+62-986) 212 2558 Fax. (+62-986) 212 906
Merauke PT. LUAS LINE Jl. Ermasu No. 5 Merauke, Papua Phone. (+62-971) 323250
Serui PT Citrabaru Adinusantara Jl. P. Dipenogoro, Serui Kab. Kepulauan Yapen, Papua Phone. 08124842543
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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2016 PERFORMANCE HIGHLIGHTS
INTRODUCTION
MANAJEMENT REPORT
COMPANY PROFILE
WORK AREA AND OPERATIONAL MAP Malahayati Lhokseumawe
Kumai Sampit
Loading Port
50
Unloading Port
Frequency (per month)
Loading Port
Unloading Port
Frequency (per month)
Loading Port
Unloading Port
Frequency (per month)
Jakarta
Pontianak
8x
Surabaya
Banjarmasin
5x
Makassar
Palu
4x
Jakarta
Pekanbaru
4x
Surabaya
Makassar
12x
Makassar
Kupang
4x
Jakarta
Dumai
4x
Surabaya
Bitung
4x
Makassar
Papua
4x
Jakarta
Palembang
4x
Surabaya
Jayapura
4x
Makassar
Ambon
4x
Jakarta
Banjarmasin
4x
Surabaya
Balikpapan
4x
Makassar
Bitung
4x
Jakarta
Batam
3x
Surabaya
Samarinda
6x
Makassar
Surabaya
4x
Jakarta
Balikpapan
4x
Surabaya
Ambon
4x
Makassar
Jakarta
4x
Jakarta
Samarinda
4x
Surabaya
Palu
4x
Makassar
Jayapura
4x
Jakarta
Belawan
8x
Surabaya
Sampit
5x
Jakarta
Surabaya
12x
Surabaya
Kumai
5x
Jakarta
Makassar
8x
Surabaya
Tarakan
2x
Jakarta
Bitung
4x
Surabaya
Papua
4x
Jakarta
Papua
4x
Jakarta
Malahayati
2x
Jakarta
Lhokseumawe
2x
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Palu Serui Fakfak Nabire Timika Tual
Dobo
Merauke Pendulum Service Service S4 Jakarta-Belawan-Jakarta-Surabaya-Makassar-Bitung-Palu Service A3 Jakarta-Belawan-Jakarta-Surabaya-Makassar-Ambon
Serving 32 Ports Sumatera
Jawa
Kalimantan
Sulawesi
NTB
Kep. Ambon
Papua
Malahayati
Jakarta
Pontianak
Makassar
Kupang
Ambon
Sorong
Lhokseumawe
Surabaya
Kumai
Palu
Tual
Manokwari
Belawan
Sampit
Bitung
Dobo
Fakfak
Dumai
Banjarmasin
Pekanbaru
Balikpapan
Timika
Batam
Samarinda
Merauke
Palembang
Nabire
Biak Serui Nabire Jayapura
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
MANAGEMENT ANALYSIS AND DISCUSSION TEMAS Line shall stand strong and upright to fully implement Fixed Schedule and On -time Delivery throughout Indonesia which has been longingly expected by National Logistic Industry.
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
COMPANY PROFILE
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
MANAGEMENT ANALYSIS AND DISCUSSION Review On Shipping Industry National maritime industry, particularly shipping industry, is a strategic sector as a bridge to unite the islands scattered throughout Indonesia. Therefore, the people of the national shipping believes that the Government is very aware and pays attention to the existence and contribution of shipping industry in supporting the economy development of Indonesia. And this has been realized in the progress of two main programs, namely Sea Toll and World’s Maritime Axis. According to the Indonesian National Shipowners’ Association (INSA), the Government measure also includes private shipping entrepreneurs to drive interisland connectivity and encourage an initiative of one-price commodity in the entire Country. So hopefully, the people in remote areas can also enjoy the same situation as felt in major cities. In addition, the cabotage principle that requires the entire interport and interisland transportation in Indonesia to use national flag, has been applied well by national shipping companies. Based on the data of Ministry of Transportation, the population of national fleets until May 2016 amounted to 20,687 units or increased to 242% compared to 6,041 units in 2005. The number of national shipping companies until May 2016 also increased significantly, from 1,591 companies in 2005 to 3,296 companies or grew 107%. However, the national shipping industry remained facing a big challenge to make Indonesia the Nation of World’s Maritime Axis. A possible effort to make is to implement ‘beyond cabotage’ for the shipping entrepreneurs to compete in international sea transportation, especially for export-import commodities transportation. It is expected that the next Government’s economic policy will give a positive impact on the national maritime industry and shipping entrepreneurs in particular.
containers services and other shipping services, the Company has operated other two Subsidiaries of Anemi Maritime Co. Ltd. (Anemi) and PT Pelayaran Tirtamas Express. With careful, comprehensive, and integrated management and coordination between the Company and entire Subsidiaries, the Company is very confident to be able to further improve the performance optimization to obtain better business results.
Operational Review On Business Segments The integrated solution with “safe and on time delivery” assurance is the TEMAS Line’s commitment to operational activities as the provider of innovative, competitive, and reliable shipping services in Indonesia. In particular, the Company is engaged in comprehensive container transportation through domestic linesfor cargo delivery of goods and commodities. Today, the mechanism of goods delivery has undergone further development on demand. • Stevedoring Services in Jakarta During 2016, the Company’s stevedoring services in Jakarta conducted by the Subsidiary of PT Escorindo Stevedoring experienced significant performance in terms of both volume and speed. The throughput increased to 6.70% from 307,319 TEUs in 2015 to 328,100 TEUs in 2016. The increase in throughput imposed to the increase of Stevedoring Services’ net income to be Rp241.7 billion or 17.50% increase from last year’s Rp205.7 billion. •
Shipping Management As the Company’s Subsidiary, PT Pelayaran Tirtamas Express is entrusted to provide shipping management services including the provision of professional crews, procurement of spare parts and other vessel’s needs, conducting ship maintenance, and fulfillment of safety standards and shipping regulations.
PT Pelayaran Tirtamas Express has recently implemented Ship Management System in running its operation. The system helps to monitor ship maintenance process, logistic delivery to the ship and fulfillment of prevailing shipping regulations.
Operational Review Shipping management and stevedoring services remained the core business operation for the Company during 2016. The business development strategy of TEMAS Line increasingly emphasized on strengthening the shipping management, especially in the stevedoring services, through Subsidiary of PT Escorindo, and Depot Services Management by PT Olah Jasa Trisari Andal. While for lease of
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
MANAGEMENT DISCUSSION AND ANALYSIS
•
•
GOOD CORPORATE GOVERNANCE
Lease of ContainersManagement As one of the preeminent TEMAS Line services, Lease of Containers Management is offered with integrated and fully containerized services. Recent available containers reached a total of 30,631 TEUs, an increase of 18% from 25,916 TEUs in 2015. Container Terminal The Company owns container terminals in some national ports, such as in Tanjung Priok of Jakarta, Tanjung Perak of Surabaya, Makassar, Belawan, Bitung, and Pontianak.
Review of Investment Performance in 2016 Investment activity has been the Company’s significant strategy to improve its productivity as well as revenues. In 2016, TEMAS Line has been carrying out the investment activity through the purchase of 6 new building ships entirely delivered to the Company ASSETS TEMAS Line’s total assets in the end of December 2016 amounted to Rp2,525,662 million that came from Current Assets of Rp275,648 million and NonCurrent Assets of Rp2,250,014 million. The Total Assets increased by Rp743,601 million or 41.73% compared to Total Assets of 2015 that amounted to Rp1,782,061 million. Current Assets The Company’s Current Assets in 2016 increased Rp4,496 million from previous year’s amount of Rp271,152 million, or up to 1.66%. The increase was mainly due to increased inventories – net, other current assets and tax advances. Fixed Assets Fixed assets increased 48.49% in 2016 to Rp2,166,137 million compared to last year’s fixed assets that was recorded at Rp1,458,800 million due to additional fixed assets of containers, vehicles, office building, vessels, and vessel maintenance. Non-Current Assets Due to additional fixed assets of containers, vehicles, office building, vessels and vessel maintenance, as well as additional deferred tax assets, the Company increased its non-current assets of 2016 amounting to Rp739.105 million or 48.92% compared to last year’s non-current assets of Rp1,510,909 million.
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Total Assets Until December 31, 2016, TEMAS Line recorded an increase in total assets of Rp743,601 million or 41.73% of total assets compared to last year, as the impact of increased non-current assets. Liabilitas The TEMAS Line’s liabilities recorded an increase of Rp563,592 million at the end of 2016. The number showed a decrease of 58.26% from last year. Short Term Liabilities In 2016, the Company recorded its short-term liabilities at Rp652,010 million, showing an increase of 40.69% or about Rp188,584 million compared to 2015 with the recorded short-term liabilities at Rp463,426 million. This was due to decrease in shortterm bank loans, related parties trade payables and write-off unwound derivative liability. Long Term Liabilities The total of long-term liabilities of TEMAS Line in 2016 experienced an increase of Rp375,007 million to Rp878,976 million, an increase of 74.41%. Last year, the Company’s long-term liabilities amounted to Rp503,969 million. Total Liability TEMAS Line recorded total liabilities of Rp1,530,987 million in 2016. The number increased by Rp563,592 million or 58.26% compared to 2015’s total liabilities of Rp967,395 million. Equity The increase in the Company’s net profit influenced the increase in equity percentage. Until the end of 2016, TEMAS Line’s total equity was Rp994,676 million which increased Rp180,010 million or 22.1% from the period of 2015 at Rp814,666 million. Revenue TEMAS Line’s revenue was recorded increasing in line with the increase in cargo volume. If the 2015’s revenue of the Company was at Rp1,621,364 million, this year’s revenue became Rp1,671,905 million, an increase of 3.12% or Rp50,541 million. While the cargo volume of 2016 showed an amount of 321,402 TEUs, 13.1% or 37,227 TEUs increase compared to 2015 that reached the cargo volume of 284,175 TEUs. Shipping activities became the main contribution for the increase in the Company’s revenue, which contributed consolidated revenue of 69.25%, anincrease of 8.69% compared to 2015.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
INCOME STATEMENTS Gross Profit The Company’s total gross profit amounted to Rp444,055 million in 2016 as a decrease of Rp9,638 million or equivalent to 2.12% compared to 2015’s amount of Rp453,694 million. Operating Expenses Operating expenses in 2016 showed a number of Rp110,080 million which was an increase of Rp13,453 million from the last year’s amount of Rp96,627 million. The increased operating expenses was equivalent to 13.92%, mainly due to increased salaries and employees benefits expenses, and rent expense. Net Income TEMAS Line managed to obtain net income in 2016 amounted to Rp231,521 million, which declined by 27% or Rp85,653 million, compared to net income for the year 2015 recorded at Rp317,174 million. The decrease was primarily due to an increase in cost of services and operating expenses. Other Comprehensive Revenue Due to exchange rate differences translation, other comprehensive expenses in 2016 decreased Rp11,887 million compared to the year 2015 which earned Rp15,750 million, or decrease by 75.47%. Net Comprehensive Income of Current Year From 2015’s comprehensive income of Rp301,424 million, this year TEMAS Line managed to obtain net comprehensive income of current year amounting to Rp227,658 million. Decrease of 24.47% or equivalent to Rp73,766 million was due to exchange rates differences in financial statements translation.
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
MANAJEMENT REPORT
COMPANY PROFILE
Proceeds from Non-Operational Cash Flow In 2016, proceeds from non-operational cash flow of TEMAS Line amounted to Rp385,450 million, a decline of Rp53,657 million or 12.22% from last year at Rp439,107 million. Meanwhile, net revenue became Rp1,671,905 million which increased by Rp50,541 million or 3.12% from the period of 2015 of Rp1,621,364 million. Cash Flows from Operating Activities Net cash flows generated from operating activities consist of cash received from interest, customers, and insurance claims; and cash paid to suppliers, employees and vessel crews, and payments for interest, taxes, and operating expenses. In 2016, TEMAS Line managed to obtain net cash from operating activities by Rp392,381 million or decrease to 7.98% from 2015 that obtained Rp426,429 million. Cash Flows for Investing Activities Net cash flows for investing activities are used for addition of short-term investment, fixed assets, and non-current assets. Net cash flows for investing activities in 2016 amounted to Rp795,784 million or up to 1,350.57% from 2015 that reached Rp54,860 million, due to decrease in proceeds from disposal of fixed assets and increase in acquisitions of fixed assets. Cash Flows for Financing Activities Net cash flows for financing activities is cash received from capital deposit and loan payments, which in 2016 amounted to Rp410,334 million, increasing 6.8% from 2015 that amounted to Rp384,247 million due to obtaining bank loans.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The Income Statements of TEMAS Line can be described as follows: Profitability TEMAS Line’s profitability or operating margin is generated from operating income divided by net sales. The Company’s profitability in 2016 was recorded at 18.17%, lower than 25.16% in 2015. Payload volume as well as addition of new routes and fleet of ships that were not in pair with decrease in price, became the main factors in decreasing profitability. Shipping segment dominated the profitability for the Company by its 84.71% contribution. CASH FLOWS Cash flows as per December 31 of 2015 to 2016 can be described as follows:
2016 Cash Flows from operating Activities Cash Flows from Investing Activities
2015
392.380.798.612
426.429.247.543
(795.784.086.252)
(54.859.779.229)
410.334.228.921
(384.247.210.383)
Cash Flows from Financing Activities
SOLVENCY AND COLLECTABILITY Solvency The Company always maintains its liquidity ratio so that the ability to meet liabilities can be properly managed. While to maintain ability in fulfilling all liabilities, the Company’s solvency ratio is used by meeting entire liabilities to all assets and meeting entire liabilities toward equity. 1. Liquidity Ratio The Company’s ability to meet Short-term Liabilities is reflected by comparing Current Assets to total Short-term Liabilities. In 2016, TEMAS Line’s Current Assets was recorded at Rp275,648 million, that if compared to 2015’s amount of Rp271,152 million, showing an increase of 1.66%. Short-term liabilities of TEMAS Line and Subsidiaries in 2016 at the amount of Rp652,010 million increased 40.69% compared to 2015 at the amount of Rp463,426 million. Therefore, TEMAS Line’s liquidity ratio became 42.28% as of December 31, 2016. This liquidity ratio was lower than last year’s liquidity ratio of 58.5%.
2. Solvency Comparison of consolidated liabilities to consolidated equity with consolidated liabilities to total consolidated assets becomes a reference in determining solvency rasio that demonstrates the Company’s ability to meet all liabilities. Until the end of 2016 and 2015, comparison between total liabilities with total assets of TEMAS Line and Subsidiaries amounted to 60.62% and 54.28% respectively. Whereas, comparison of total liabilities to total equity amounted to 153.92% and 118.75% respectively.The resulting solvency ratio shows an increase reflecting the impact of additional bank loans. 3. Collectability The Company’s effectiveness in implementing collectability policy strongly influences the level of customers’ timeliness to make payment, which in the end determines collectability level of the Company’s accounts receivables. In 2016, TEMAS Line’s collectability level showed a constant effectiveness of AR Collection Division in collecting debts with the period of 39 days.
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
CAPITAL STRUCTURE AND POLICY ON CAPITAL STRUCTURE Capital Structure Capital structure of TEMAS Line as for December 31, 2016, consisted of authorized capital of Rp570,000,000,000 with the amount of paid-up at Rp142,628,750,000. Further information of the Company’s capital structure can be seen in the following table:
2016
2015
570.000.000.000
570.000.000.000
Unpaid Capital
427.371.250.000
427.371.250.000
Paid-UP Capital
142,628,750,000
142,628,750,000
Increase in Debt Securities
145,603,049,314
145,603,049,314
34,823,179,931
34,823,179,931
773.660.578.307
589,933,190,599
(103.349.363.063)
(99,488,884,785)
993.366.194.489
813,499,285,059
1.309.521.748
1,166,475,743
994.675.716.237
814,665,760,802
Authorized Capital
Retained Earnings Appropriated outher Comprehensive income Unappropriated outher Comprehensive income Comprehensive income Net equity attribution to owners of the Parent Entity Non- Controlling Interests Total Equity
Material Obligation For Goods And Capital Investment TEMAS Line has conducted several material obligations in 2016, in the form of building 3 units of new ship and purchasing 4 units of used ship, along with land purchase for container terminal.
Comparison Between Target/Projectionand Realization The comparison between the target/projection established by the Company at the beginning of the year and the realization at the end of the fiscal year can be seen in the following table:
DESCRIPTION Volume (TEUs)
2016 REALIZATION
350.000
321.402
1.872.000.000.000
1.671.905.016.010
Oprational Expenses (Rp)
1.514.470.270.000
1.227.850.405.646
Net Profit (Rp)
250.000.000.000
231.521.148.688
Service Revenue (Rp)
58
INITIAL BUDGET
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
Significant Increases/Decreases from Net Sales/ Income The Company’s net income demonstated a significant increase throughout 2016, due to increasing payload volume of 13% after the opening of new routes, namely Timika, Merauke, Serui, Kumai, Sampit, Malahayati, and Tual, coupled with maintaining and developing Pendulum Route services already started in 2013. Subsequent Events Of Material Information And Facts During 2016, the Company has no material information and facts occurred in the business activities after accountant’s reporting date.
BUSINESS OUTLOOK
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Some challenges to deal with the marketing strategies applied by the Company, include: a. In term of price competition, TEMAS Line applies a strategy of the provision of services with guaranteed and optimal quality, either through increasing time efficiency as well as goods security. b. The Company continues to enhance cooperation in freight forwarding and strengthen other customer base, such as cargo transshipment, given the fact that freight forwarding lines provides the highestcontribution from all revenues or total goods orders. c. Service quality continues to be improved through timely and satisfactory service, provision of current information about the arrival and departure of ships,and also dedicated services.
The potential of shipping industry remains very promising, both nationwide as well as worldwide. Interisland, even international, distribution of goods is still more effective and efficient by using ocean freight. On the other hand, regional economic growth in Indonesia is increasingly developing and providing its own potential to create interregional and interisland transactions.
Cash Dividend Policy And Distribution
The establishment of the Government program in making Indonesia as one of the world’s maritime fulcrum along with the Asean Free Trade Area (AFTA 2015) will provide opportunities for TEMAS Line to seize more customers from existing trade activities. However, this can only be supported by more professional system of performance management. Higher market expectation demands TEMAS Line to prioritize punctuality and safety of the goods in accordance with the Company’s commitment of ‘safe and on-time shipping delivery’.
Material Information on Investment, Business Expansion, Divestment, Merger/Acquisition, or Debt/Capital Restructuring
As an anticipative measure, TEMAS Line strives to prepare for the development of fleet and provision of more adequate supporting facilities. This is another implementation of strategic planning established since five years ago, which is directed at fulfilling expectation of the stakeholders through operational excellence for the achievement of the Company’s vision in the year 2017
MARKETING ASPECT In tighter business competition, the Company’s expansive marketing strategy is established to further expand cargo delivery coverage through the opening of new potentially strategic routes. Not only to boost revenue growth, this strategy is also aimed at reaching new potential customers. On the other hand, maintaining the customer’s trust with professional and personal for timely and safe delivery becomes the main basis for TEMAS Line to be the first choice in meeting the need for cargo transportation.
Based on Minutes of Meeting of Annual General Meeting of Shareholders held on April 27, 2016 made in the Deed of Notary No. 132, the Company decided to distribute cash dividends amounting to Rp47,580,951,000from Net Income for Fiscal Year 2015 that was distributed in Cash Dividend of Rp41.70 per share (excluding tax).
Throughout the year 2016, Temas Line has no material information related to activities of investment, business expansion, divestment, merger/acquisition, or debt/capital restructuring. Transactions with Conflicts of Interest and with Affiliated Parties During 2016, there has been no transactions whatsoever containing conflicts of interest or transaction with affiliated parties
Amendment in Regulations During the year 2016, there were no amendments in regulations that affected significantly to the Company’s business activities.
Amendment in Accounting Standards During the year 2016, there were no amendments in TEMAS Line’s accountingstandards in 2016.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
GOOD CORPORATE GOVERNANCE We are highly confident that we can maintain our successful achievement if we can be consistent in keeping up with GCG practice.
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
COMPANY PROFILE
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
GOOD CORPORATE GOVERNANCE General Overview PT Pelayaran Tempuran Emas Tbk is very aware of the consistency in applying the principles of Good Corporate Governance (GCG) that becomes a necessity. For the Company, the consistency should be manifested in the form of discipline in complying with and carrying out various rules, such as applicable regulations, provisions, or policies, so that the Company’s business activities can be managed with optimum and transparent manner without conflicts of interest. It is not easy to apply GCG principles, given that the business situation of the Company is filled with dynamic changes in the industry market as well as stock exchange. However, the Company believes that the application of GCG principles that supported with application of the Company’s corporate values will lead the Company’s growth to the right direction in accordance with the established vision and mission. In order to make the GCG implementation come up with expected results, its application procedure and the process will always be reviewed at regular basis, either in the business activities within the Company’s environment or in conjunction with stakeholders. The review or supervision is aimed to: • Increase efficiency and effectiveness while keeping the Company’s sustainability to create benefits for shareholders, employees and other stakeholders; • Be constructive solution enabling to transform challenges into opportunities; • Increase the Company’s legitimacy as an organisation managed with transparency, fairness and reliability; • Recognize and protect the rights and obligations of all Shareholders and stakeholders Currently, the Company has formed and owned Organs of Corporate Governance in TEMAS Line’s environment, such as General Meeting of Shareholders, Board of Commissioners, Board of Directors, Audit Committee, Internal Audit, Risk Management, Corporate Secretary, as well as Code of Ethics Charter, under the application of the following five principles:
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
• Transparency To maintain objectivity in running the business, the Company provides material and relevant information in a way that is easily accessible and understood by stakeholders. The Company also takes an initiative to disclose not only issues required by laws and regulations, but also other important things for decision making by the shareholders and other stakeholders. • Accountability The Company is fully responsible for its transparent and reasonable performance, by managing the Company in proper and measurable way, and in accordance with the Company’s interests and the interests of shareholders and other stakeholders at the same time. • Responsibility The Company shall comply with laws and regulations, as well as carry out its responsibility toward society and environment so that the business continuity could bepreserved in the long run and the Company could earn recognition as a good corporate citizen. • Independency To facilitate the implementation of GCG principles, the Company shall be managed independently and professionally so that organs of the Company do not dominate each other and cannot be intervened by other parties. As a matter of fact, it has been implemented through appointment of Independent Commissioner as much as 30%, establishment of Audit Committee and disclosure of affiliated relationship to public. • Fairness In carrying out its activities, the Company applies fair conduct and pays attention to the interests of shareholders and other stakeholders based on agreement, applicable legislation, and principles of fairness and equality.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Structure of Corporate Governance GMS
Board of Director
Board of Commissioner
Internal Audit
Audit Commitee
Corporate Secretary
General Meeting of Shareholders (GMS) General Meeting of Shareholders (GMS) is the highest organ with highest authority in the Structure of Corporate Governance, as stated in Regulation No. 40/2007 on Limited Liability Companies and the Company’s Articles of Association. GMS can be conducted in the form of Annual GMS and Extraordinary GMS where necessary. Annual GMS is organized once in a year of which the meeting agenda should be announced 14 days before its providence. While Extraordinary GMS is carried out at any time when certain changes related with laws and regulations, accounting policies or other specific issues requiring common decision from all Shareholders beyond Boards of Commissioners and Directors’ authority. In 2016, the Company conducted Annual GMS for fiscal year of 2015 and Extraordinary GMS on April 27, 2016, in Indonesia Stock Exchange Building, with the resolutions as follows: Cash Dividend policy DESCRIPTION
Cash Dividend
2016
Rp47,580,951,000 from Net Income for Fiscal Year 2015 was distributed in Cash Dividend of Rp41.70 per share (excluding tax).
2015
10% of Net Income for fiscal year 2014 or Rp20,324,182,893 was distributed in Cash Dividend of Rp17.81 per share(excluding tax).
Schedules of Notification, Announcement, Invitation, Execution and Submittance of GMS Resolutions Date of 11 March 2016
Date of 21 March 2016
Date of 5 April 2016
Date of 27 April 2016
Submittance of written Notification of AGMS and EGMS Plans to OJK and IDX
Announced in advertisementofBisnis Indonesia Daily and in the IDX’and Company’s website (via e-Reporting to IDX and OJK)
Announced in advertisementofBisnis Indonesia Daily and in the IDX’and Company’s website (via e-Reporting to IDX and OJK)
AGMS was conducted at 09.10–09.40 am in Cendana Room, Holiday Inn Hotel, 2ndFloor,Jl. Griya Utama Block B No. 1, Jakarta 14350
Date of 29 April 2016 Announced in advertisementofBisnis Indonesia Daily and in the IDX’and Company’s website (via e-Reporting to IDX and OJK)
EGMS was conducted at 09.46–10.00 am in Cendana Room, Holiday Inn Hotel, 2nd Floor,Jl. Griya Utama Block B No. 1, Jakarta 14350
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
Resolutions of Annual GMS 2016 No.
1
Agenda
Approval and ratification on the Company’s Annual Report for the fiscal year 2015, including the Company’s Operational Report, Supervisory Report of the Board of Commissioners, and Consolidated Audited Financial Statements of the Company and Subsidiaries for fiscal year 2015; and grant discharge and release of responsibility (acquit et de charge) to the Boards of Directors and Commissioners of the Company for the management and supervisory actions conducted in fiscal year 2015.
Resolution
Approve and ratify the Company’s Annual Report for the fiscal year 2015, including the Company’s Operational Report, Supervisory Report of the Board of Commissioners and Financial Statements of 2015 audited by Public Accountant Firm of “Purwantono, Sungkoro & Surja” as contained in its report on March 22, 2016, No. RPC-610/PSS/2016 with fair opinion in all material respects, and grant discharge and release of responsibility (acquit et de charge) to the Boards of Directors and Commissioners of the Company for the management and supervisory actions conducted in fiscal year 2015 to the extend that those actions are reflected in the Annual Report.
Realization
Approved directly in the Meeting
Approve the use of the Company’s net profit for the fiscal year 2015, as follows:
2
Establishment of the use of the Company’sProfit for the fiscal year 2015
•
About Rp47,580,951,000 would be delivered in the form of Cash Dividends for the distribution of 1,141,030,000 shares or equal to Rp41.7 per share (before prevailing tax);
•
The remaining would be as retained earnings used to increase the Company’s capacity and business purposes.
Grant power and authority to the Board of Directors to make any necessary actions in respect with the aforesaid decisions, including and in carrying out cash dividend disbursement with the schedule and procedure as required by applicable legislations.
3
64
Appointment of Public Accountant to carry out auditing the Company’s financial statements for the year 2016, and grant authority to determine the Public Accountant’s honorarium and other requirements.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
Grant power and authority to the Company’s Board of Commissioners to appoint Public Accountant in auditing the Company’s financial statements for the year ended on December 31, 2016, and determine the amount of honorarium and other requirements for the appointed Public Accountant.
Approved directly in the Meetingand already distributed to all Shareholders according to the prevailing regulations.
Based on the Letter of Approval of the Board of Commissioners No. 004/DEKOMSRT/ TE-JKT/X/2016 dated on October 7, 2016, KAP Purwantono, Sungokoro & Surja was the appointed Public Accountant.
MANAGEMENT DISCUSSION AND ANALYSIS
No.
GOOD CORPORATE GOVERNANCE
Agenda
Resolution •
4
CORPORATE SOCIAL RESPONSIBILITY
Determining the honorarium, salary and other allowances for the members of the Company’s Board of Commissioners and Board of Directors. •
Determine the amount of honorarium and other allowances for all members of the Company’s Board of Commissioners for the fiscal year 2016 with the maximum amount of Rp2 billionand grant authority to the Majority/Principal Shareholders of the Company to determine the allocation of salaries and other benefits for each member of the Board of Commissioners from the aforesaid amount. Grant authority to the Company’s Board of Commissioners to determine the salaries and allowances for the members of the Company’s Board of Directors for the fiscal year 2016.
2016 AUDITED FINANCIAL STATEMENTS
Realization
Based on letter of approval from Principal Shareholders
Had been executed with the Board of Commissioners’ approval
Resolutions of Extraordinary GMS 2016 No.
Agenda
Resolution
Realization
1
Approval on the plan to sell and purchase (capital goods investment/ capex) fleets, gears, equipment, and other supporting facilities of the Company and Subsidiaries.
Approve the plan to sell and purchase (capital goods investment/Capex) fleets, gears, equipment, and other supporting facilities of the Company and Subsidiaries with the amount of Rp550 billion for the period from the decision made in the Meeting until the closing of the Company’s Annual General Meeting of Shareholders for the fiscal year 2016.
All plans had been executed during 2016.
2
Grant power and/or approval of the Board of Directors’ and/or Board of Commissioners’particular actions for transfer, purchase of vessel and/or other actions, including granting of guarantee to third parties in the form of fixed assets related with the Company’s main activities.
Grant power and/or approval of the Directors’ particular actions upon approval of the Board of Commissioners to be implemented for transfer, purchase of vessel and/or other actions, including granting of guarantee to third parties in the form of fixed assets related with the Company’s main activities.
Directly approved in the Meeting.
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2016 PERFORMANCE HIGHLIGHTS
INTRODUCTION
MANAJEMENT REPORT
COMPANY PROFILE
BOARD OF COMMISSIONERS The composition of members of the Company’s Board of Commissioners is as follows: Name
Position
Wong Chau Lin
President Commissioner
Edward Simangunsong
Independent Commissioner
Alfred Natsir
Independent Commissioner
Duties and Responsibilities Based on Regulation No. 40 Year 2007 on Limited Liability Companies, Board of Commissioners is responsible for supervising the company and ensures that Board of Directors is able to run its duties, as well as continually observes the effective implementation of policy, performance and decision-making process undertaken by the Board of Directors in order to be aligned with shareholders’ direction. The Board of Commissioners’ responsibilities are:
duties
and
1. To supervise the implementation of the Board of Directors’ duties and responsibilities; 2. To address advises and inputs to the Board of Directors to ensure that the Company’s vision and mission are properly followed; 3. To direct, monitor, evaluate and actively be responsible in strategic planning process as well as its implementation due to mitigate the Company’s risks; 4. To review the application of Good Corporate Governance principles; 5. To secure the information disclosed to Shareholders and public
Meeting Frequency and Attendance During 2016, the Company’s Board of Commissioners has conducted regular meeting for 6 times with average attendance of 100%, as the following details:
Position
Meeting Attendance
Attendance Percentage
Wong Chau Lin Edward
President Commissioner
6/6
100
Simangunsong
Independent Commissioner
6/6
100
Alfred Natsir
Independent Commissioner
6/6
100
Name
Meeting Agenda and Board of Commissioners’ Recommendations In all meetings conducted in 2016, the Board of Commissioners has compiled several agendas and recommendations over the course of Temas Line operation, such as: a. a. To always evaluate the study of port services; b. Ships maintenance is based on good plan of maintenance system; c. To further extend market penetration; d. To improve services of quality, cost and delivery for customer satisfaction; e. To enhance the employees’ competence and professionalism.
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Training Program The Board of Commissioners has not participated any training programs during 2016. The Board of Commissioners’ Guidelines and Code of Conduct The Company’s Board of Commissioners has carried out its duties based on the Board of Commissioners’ Decision No. 019/DEKOM-SKEP/TE-JKT/XII/13 regarding Stipulation of the Board of Commissioners’ Annual Work Program.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
BOARD OF DIRECTORS As of the end of 2016, members of the Company’s Board of Directors has not changed with the following composition: Name
Position
Harto Khusumo
President Director
Faty Khusumo
Managing Director
Teddy Arief Setiawan
Operational and Commercial Director
Ganny Zheng Scope and Responsibility of the Members of Board of Directors The Company’s Board of Directors has duties and responsibilities to lead, manage and take control of the Company to be in line with Company’s directions, objectives, and Corporate Vision-Misson, and also to formulate strategic, well-planned and integrated measures in order that the Company can operate efficiently and effectively. Until the end of 2016, the Company’s Board of Directors consists of four members with respective duties and authorities as follows: President Director Currently, the Company’s President Director is Harto Khusumo, with duties and authorities as follows: 1.
To be responsible to lead and manage the entire business operatons along with other Directors; 2. To significantly involve in making strategic decisions for the Company’s advancement; and 3. To legally act on behalf of the Company toward third parties, including to Shareholders. Managing Director The Company’s Managing Director is currently assigned to Faty Khusumo who has duties and authorities as follows: 1. 2.
3. 4. 5. 6.
To be responsible in operational management of the Company to achieve optimal results; To coordinate all organization functions to maintain and improve Company’s market share as well as to achieve financial performance targeted; To prepare Company’s Business Plan internally; To establish the shipping line and properly manage the vessels for respective routes; To develop Company organization and improve HR performance; and To optimize the fleet management and other productive assets.
Finance Director The Company’s recent Finance Director is Ganny Zheng who has duties and authorities: 1.
Finance Director 2. To manage financial performance effectively and efficiently; 3. To find sources of funding for the Company’s financial needs effectively and efficiently. Operational and Commercial Director Currently,Teddy Arief Setiawan is positioned as Operational and Commercial Director with duties and authorities as follows: 1.
To be responsible for excellent performance of all branch offices and agents; 2. To develop effective and efficient standard operation to deliver customer satisfaction; 3. To secure Company’s position against potential claims by ensuring excellent business performance and staying compliant with proper standard procedures; 4. To supervise vessel operations, port activities and other related activities; and 5. To develop pricing strategy for all services offered to customers
Board of Directors’ Meeting Board of Directors’s Meeting is a forum for all Directors’ members to coordinate and report their respective responsibilities and duties. Any issues of the Company require mandatory policies and strategic decisions shall also be discussed through Directors’ meeting. To conduct meetings of all members of the Board of Directors, the schedules were at any time if deemed necessary by one or more members of the Board of Directors, or upon written request from one or more Shareholders who commonly represent 1/10 or more of the total share amount with legal voting rights. President Director is entitled to lead every meeting, or in term of any absent of President Director, Managing Director shall be entitled to lead the meeting. The decisions in the meeting are taken with deliberation for consensus or by voting if not reached the consensus, on the basis of agreed votes of more than half the number of valid votes in the meeting.
To establish strategic planning in finance to support operational performance;
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
In addition to official meetings, the Board of Directors may also hold informal meetings if necessary, with the invitation and minutes meeting sent through email to each of Directors’ members. During 2016, annual meetings of Board of Directors have been conducted for 14 times. The following table describes the frequency and attendance of Board of Directors’ members at Directors’ meetings during 2016: Position
Attendance
Attendance Percentage
Harto Khusumo
President Director
14/14
100
Faty Khusumo
Managing Director
14/14
100
Ganny Zheng
Financial Director
14/14
100
Teddy Arief Setiawan
Financial and Commercial Director
14/14
100
Name
In the meetings above mentioned, some major decisions have been made, as follows: 1.
Opening 7 new routes, namely Timika, Merauke, Serui, Kumai, Sampit, Malahayati, and Tual;
2. Increasing the number of containers; 3. Conducting rejuvenation and increasing the number of fleets consisting of 4 new ships and 3 used ships; 4. Adding supporting facilities for the Company’s main activities in the form of heavy equipment and land for Container Terminal. Joint Meeting The Boards of Commissioners and Directors convene joint meeting in order to optimize the application of Corporate Governance and monitoring the Company operations run by the Board of Directors so that its management remains in accordance with best practices. The agenda and conditions of joint meeting include: 1.
Joint meeting is organized at least once a month attended by all members of the Boards of Commissioners and Directors;
2. Every agenda of joint meeting should discuss the Company’s progress, evaluation and recommendations required to anticipate and overcome the problems; 3. Strategic decisions requiring approval of the Board of Commissioners will be discussed in an ad hoc meeting. During 2016, joint meetings of the Boards of Commissioners and Directors have been held with the following frequency of attendance: Name
Position
Attendance
Attendance Percentage
Wong Chau Lin
President Commissioner
13/13
100
Edward Simangunsong
Independent Commissioner
13/13
100
Alfred Natsir
Independent Commissioner
13/13
100
Harto Khusumo
President Director
13/13
100
Faty Khusumo
Managing Director
13/13
100
13/13
100
13/13
100
Ganny Zheng Teddy Arief Setiawan
Financial Director Financial and Commercial Director
Training Program Throughout 2016, members of the Board of Directors have not participated any training programs.
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MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
Assessment on the Board of Commissioners
2016 AUDITED FINANCIAL STATEMENTS
Assessment on the Board of Directors’ Performance
Assessment process toward the Board of Commissioners’ performance is conducted annually through GMS mechanism by Shareholders. The main objective of performance assessment is to increase the effectiveness of Board of Commissioners’ work program. In general, the performance of Board of Commissioners is assessed based on the duties and obligations set forth in applicable regulations in the Company’s Articles of Association.
The Company has defined the criteria of performance evaluation for the Board of Directors’ members based on performance targets stated in the management contract as well as their commitment in fulfilling Shareholders’ directions. Each of Directors shall sign the management contract at the time of appointment and it will be evaluated annually. Whereas, the Board of Directors’ performance will be evaluated annually by Shareholders in GMS based on defined criteria of performance evaluation.
Formal evaluation criteria are presented openly to the Board of Commissioners since their appointment. Whereas, individual evaluation criteria include the attendance in meetings, contributions in the process of decision-making, involvement in specific assignment and commitment in advancing the Company’s interests. Evaluation results of entire performance of Board of Commissioners and individual Commissioners are inseparable part in determining remuneration scheme for the Board of Commissioners.
Formal evaluation criteria are presented openly to the Board of Directors since their appointment. The criteria include their attendance in meetings, contributions in the process of decision-making, involvement in specific assignment, commitment in advancing the Company’s interests, and fulfillment to defined performance targets. Evaluation results of entire performance of Board of Directors and individual Directors will become the material of evaluation in determining remuneration scheme for the Board of Directors.
Remuneration Policy for the Board of Commissioners Remuneration for the Board of Commissioners is established under Regulation No. 40/2007 on Limited Liability Companies, Paragraph 10 Article 4 and Paragraph 13 Article 6 of the Company’s Articles of Association stating that remuneration and other benefits for all members of the Board of Commissioners are designated through General Meeting of Shareholders.
Remuneration Policy for the Board of Directors Remuneration for the Board of Directors established under Regulation No. 40/2007 on Limited Liability Companies and Paragraph 13 Article 6 of the Company’s Articles of Association stating that remuneration and other benefits for all members of the Board of Directors are designated through General Meeting of Shareholders, and the authority may be delegated by GMS to the Board of Commissioners based on prevailing regulations. Therefore, based on the Company’s GMS results on April 27, 2016, policy on remuneration and other benefits for the Company’s Board of Directors was authorized toward the Company’s Board of Commissioners.
Based on the Company’s GMS results on April 27, 2016, total remuneration for all 3 (three) members of TEMAS Line’s Board of Commissioners for the year 2016 was Rp2 billion, with the remuneration consisting of honorarium, tantiem, and allowances.
Table of Affiliation Affiliation
Name
The Board of Commissioners
Yes
No
The Board of Directors
Yes
No
Controling Shareholders Yes
No
Wong Chau Lin President Commissioner Edward Simangunsong Independent Commissioner Alfred Natsir Independent Commissioner Harto Khusumo President Director Faty Khusumo Managing Director Teddy Arief Setiawan Commercial Director Ganny Zheng Finance Director
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
AUDIT COMMITTEE Audit Committee is established under the Board of Commissioners functioning to help supervising the management of the Company. Audit Committee’s members are appointed and dismissed by the Board of Commissioners, and carrying out its functions based on the Company’s Board of Commissioner Decree No. 010/DEKOMSKEP/TE-JKT/VI/14 and Charter of Audit Committee No. 018/DEKOMSKEP/TE-JKT/XII/13 containing vision and mission, authority, also duties and responsibilities of Audit Committee. Profile of Audit Committee The Company’s Audit Committee has three members consisting of 1 Chairman and 2 independent members. For the period of 2016, the composition of Audit Committee’s membership is : Name Edward Simangunsong
Position Chairman
Alfred Natsir
Mamber
Ardi Dharmono
Mamber
Currently, Chairman of the Company’s Audit Committee is assigned to Edward Simangunsong who has served since June 18, 2009. Edward Simangunsong’s profile can be found on the profile of Board of Commissioners. Alfred Natsir has served as Audit Committee member since Juni 6, 2014. He is also the Company’s Independent Commissioners, so his profile can been found on the profile of Board of Commissioners. The other member is Ardi Dharmono who has served since November 15, 2015. He completed his study at Engineering Academy of Surabaya, Faculty of Civil Engineering in 1976, with experience of more than 20 years in banking. Duties and Responsibility of Audit Committee In general, duties and responsibilities of Audit Committee is: 1. To provide independent professional opinions to the Board of Commissioners regarding the report submitted by Board of Directors; 2. To identify all matters concerned with financial statements, internal control, compliance level toward regulations, as well as potential frauds over the decisions made by Board of Directors, and other issues related with Company’s operational performance; 3. To implement principles of Good Corporate Governance
Legal Appointment Decree of the Board of Commissioners No. 011/DEKOM-SKEP/ TE-JKT/XI/15
Period
16 November 2015 – GMS of 2018
Executive Report of Audit Committee Activities Throughout the year 2016, Audit Committee has executed its duties and responsibilities in assisting the Board of Commissioners’ work program for the implementation of supervisory function and GCG application, including: 1. Review of monthly financial information 2. Review of monthly operationalactivities related to the results and management 3. Selection and appointment of Independent Auditor 4. Supervision over the effectiveness of internal control 5. Discussion of risk management 6. Supervision over the compliance with regulation and legislation, and review of the implementation of Good Corporate Governance and Risk Management Meeting of Audit Committee The Company’s Audit Committee has conducted several internal meetings as an implementation of its duties and responsibility and to discuss their executed supervisory functions. In the meetings of Audit Committee, some agenda and recommendations resulted were as follows: • Review on current SOP and policies • Need for questionnaire to managers on understanding their role and functions. • Need for mentoring to each manager and head candidate of new branch
Meetings of Audit Committee Name
70
Position
Attendance
Percentage
Edward Simangunsong
Chairman
12/12
100
Alfred Natsir
Member
12/12
100
Ardi Dharmono
Member
12/12
100
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Other Committees under the Board of Commissioners The Company has formed Remuneration and Nomination Committee of which its functions carried out by the Board of Commissioners.
Marthalia Vigita Corporate Secretary
CORPORATE SECRETARY Corporate Secretary has an important role in facilitating communication among organs of the Company, relationship between the Company and stakeholders, and compliance with legislation and regulations. Corporate Secretary has the mission to establish, develop, direct and formulate strategy in the implementation of Investor Relation and Corporate Communication, Good Corporate Governance and corporate secretarial administration, while paying attention to the Company’s Code of Conduct and Corporate values. The establishment of Corporate Secretary has been carried out since July 2003 at a time when the Company transformed into public company. The appointment by Board of Directors has been in accordance with Regulation of Financial Services Authority Number: 35/POJK.04/2014 about Corporate Secretary of Issuers or Public Companies. In 2016, Corporate Secretary of TEMAS Line was assigned to Marthalia Vigita. She is Indonesian citizen, 37 years old. Served as Company’s Corporate Secretary since June 6, 2014, based on Decree of Board of Directors No. 019/LGL/S.Kep-DIR/TE-JKT/ VI/14 on June 6, 2014. Marthalia holds Bachelor’s degree in Financial Management, University of 17 Agustus 1945, Jakarta. She joined PT Pelayaran Tempuran Emas, Tbk. in 2003 as Secretary to
Director and Commissioners until 2011, then served as Assistant to Corporate Secretary (2011-2013). Prior to join the Company, Marthalia Vigita served as Secretary to Director of PT Intraco Penta, Tbk. (2000-2003). Duties and Responsibilities of Corporate Secretary The Corporate Secretary’s duties and responsibilities are: 1. To keep updated with Capital Market development, particularly regarding with Capital Market regulations; 2. To disseminate information of the Company’s condition to public (investors); 3. To provide inputs to Board of Directors to meet the conditions of Capital Market; 4. To be a liaison between the Company with Capital Market and public; 5. To prepare a special list of the Boards of Directors and Commissioners, both within Registered Company and its affiliates. 6. To be responsible for organizing General Meeting of Shareholders (GMS); 7. To deliver reports of compliance, such as information disclosure of the Company’s activities, financial statements, and annual reports to OJK and Indonesia Stock Exchange.
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
Implementation of Duties of Corporate Secretary in 2016 In accordance with the function of the Corporate Secretary, several activities carried out by the Company’s Corporate Secretary during 2016 are as follows: 1. Delivering information disclosure to the Public via online web reporting of the Indonesia Financial Services Authority and Indonesia Stock Exchange, which is also displayed in the website of Stakeholders Information section, such as: a. Information disclosure regarding the Signing of MoU in Cooperation of Pendulum Service on Time Schedule, on February 16, 2016. b. Information disclosure about Delivery of New Building Vessel (KM Teluk Mas) on February 16, 2016. c. Information disclosure about Delivery of New Building Vessel (KM Kisik Mas) on February 22, 2016. d. Information disclosure about the Sale of Vessel (KM Lagoa Mas) on March 17, 2016. e. Information disclosure about the Purchase of two New Vessels (WZ 106 and WZ 107) on April 6, 2016. f. Information disclosure about the Signing Agreement of 2 units of New Vessels (WZ 108 and WZ 109) on June 2, 2016. g. Information disclosure about Particular Shareholders on the purchase of shares by the Company’s Director (Teddy Arief Setiawan) on August 3, 2016. h. Information disclosure about the purchase of 1 Unit of Used Vessel (KM Larentia) on September 21, 2016. i. Information disclosure of Particular Shareholder on the sale of shares by the Company’s Director (Teddy Arief Setiawan) on October 21, 2016. j. Information disclosure about the purchase of 1 Unit of Used Vessel (KM Conti Emden) on November 9, 2016. k. Information disclosure about the purchase of land in Kalianak Surabaya, on December 23, 2016. 2. Delivering Periodic Reports to the Indonesia Financial Services Authority and Indonesia Stock Exchange on time, including: a. a. Report of the shareownership of the Boards of Directors, Commissioners and Shareholders above 5% every month b. Financial Statements as of 31 December 2015 (audited) c. Financial Statements as of 31 March 2016 (unaudited)
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MANAJEMENT REPORT
COMPANY PROFILE
d. 2015 Annual Report e. Financial Statements as of 30 June 2016 (unaudited) f. Financial Statements as of 30 September 2016 (unaudited) The submission of the periodic reports is by online through the website of OJK and IDX, and also displayed on the Company’s website. In addition to electronic submission, our periodic reports are also submitted in hardcopy to OJK and IDX. 3. Corporate Events & Meetings in 2016, such as: A. Organizing General Meeting of Shareholders and Public Exposure: a. Submitting notifications of AGMS & EGMS to OJK and BEI b. Publishing Ads of Notice, Invitation, and Meetings’ Decisions in Bisnis Indonesia Daily c. Preparing General Meeting’s agenda, also scenarios and list of events of GMS d. Coordinating with Notary for drafting Minutes of Meetings e. Submitting Plans and Timetable, Contents, and Results of Public Exposure to the Indonesia Financial Services Authority and Indonesia Stock Exchange f. Executing the GMS on April 27, 2016, venued in the Holiday Inn Hotel, Kemayoran, Jakarta g. Submitting Minutes of Meetings of Annual General Meeting of Shareholders (Deed No. 132) and Minutes of Extraordinary General Meeting of Shareholders (Deed No. 133) to the Indonesia Financial Services Authority and Indonesia Stock Exchange h. Publishing the schedule and procedure of dividend distribution for the year 2015 i. Coordinating with Share Registrar and Indonesian Central Securities Depository for the execution of Dividend distribution. B. Signing MOU of Route S4 (Sea Toll) on February 12, 2016, in Borobudur Hotel C. Conducting the 29th Anniversary of Temasline, located in the Head Office Jakarta, on September 17, 2016
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Regular Meetings of the Management: A. Conducting and documenting the results of Joint Meeting of the Boards of Directors and Commissioners. During 2016, the Boards conducted 13 meetings. B. Conducting joint meetings of the Audit Committee and Internal Audit C. Conducting management meeting on April 28, 2016 4. Carrying out Corporate Social Responsibility. 5. Conducting Corporate Rating by PT PEFINDO, with the rating of “Single A” for the period of 1 September 2016 – 1 September 2017.The given rating is based on the data and information of unaudited financial statements as of June 30, 2016, and audited financial statements as of December 31, 2015. Training for Corporate Secretary During 2016, Corporate Secretary did not participate any training programs, but has attended several seminars organized by OJK and IDX as well as some socializations related to Capital Market regulations.
No
Training
Organizers
Date
1
CSR Talks for Leaders
BEI
1 Februari 2016
2
Sosialisasi Program AEI dan Issuer Gathering
Asosiasi Emiten Indonesia
1 Juni 2016
3
Quality Empowerment System
Asosiasi Emiten Indonesia
23-24 September 2016
4
Konsolidasi Laporan Keuangan dan Sistem Pelaporan Keuangan
Otoritas Jasa Keuangan
27 Oktober 2016
5
Workshop Keterbukaan Informasi atau Fakta Material, Transaksi Afiliasi, Transaksi Material, Pengungkapan Tata Kelola Emiten
Total Quality Indonesia
16 November 2016
INTERNAL AUDIT The Company has undertaken the establishment of internal audit early in 2010 through Board of Commissioners’ Approval Letter No. 002/B/LGL/ SP-KOM/TE-JKT/I/10 and Decree of Directors No. 002/C/LGL/SKEP-DIR/TEJKT/I/10.Based on these decrees, Board of Commissioners has the right and responsibility to appoint and dismiss theChairman of Internal Audit, who will then form teamwork to carry out the unit’s duties and responsibilities professionally and independently. Position of Internal Audit The membership of Internal Audit Unit is appointed and dismissed by and responsible directly to President Director, based on Decree of Directors No. 094/LGL/S.Kep-DIR/TE-JKT/VIII/13 dated on August 26, 2013, related to Organization Structure of the Company.
Profile of Head of Internal Audit Head of Company’s Internal Audit Unit is currently assigned to Susan Natalia, Indonesian citizen, 30 years old. She has been Head of Internal Audit Unit since September 2, 2013, after previously served as the Company’s Internal Auditor since September 2012. Susan Natalia holds Bachelor of Accounting from Catholic University of Atmajaya, Jakarta. Prior to joining the Company, she served as Auditor at Ernst & Young Indonesia (2010-2012), and Internal Auditor on PT Karya Inti Petroleum (2012). To maintain its independence the Company’s Internal Audit of 3 members has no affiliation Commissioners and Directors, or the Company
and objectivity, Unit consisting with Boards of Shareholders of
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
During 2016, the duties and responsibilities of Internal Audit Unit can be outlined as follows: 1.
Planning and draftingthe Annual Internal Audit Program;
2. Examining and evaluating the implementation of internal control and risk management systems in accordance with the Company’s policy; 3. Conducting examination and assessment on the efficiency and effectiveness in the areas of finance, accounting, operations, human resources, marketing, information technology, as well as special examinations assigned, including auditing on work flow if possible; 4. Making reports of audit results and submitting to President Director, the Board of Commissioners and Audit Committee; 5.
Monitoring and evaluating over the audit findings, and providing advice or recommendations of improvementin conducting the Company’s activities to all levels of Management;
6. Visiting to the Company’s branches and/or ships, either as a routine visit or sudden inspection; 7. Monitoring safety procedureson the Company’s treasures and interests in order to be implemented properly, by way of checking the correctness and accuracy of bookkeeping data and completeness of supporting documents, either by random sampling or comprehensive examination; 8. Maintainingthe confidentiality of the data examined and information obtained, and reserved only for the purposes of audit examination; 9. Providing monthly reports to Audit Committee periodically on the implementation of audit activities performed; 10. Providing evaluation of independent auditresults, maintaining the confidentiality, which can only be accessed by Management, Audit Committee, Public Accountant or other parties with the Management’s approval; 11. Drafting programme in order to evaluate the quality of the performing internal audit activities.
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MANAJEMENT REPORT
COMPANY PROFILE
PUBLIC ACCOUNTANT The Company has assigned KAP Purwantono, Sungkoro & Surja as the Company’s Public Accountant based on Appointment Letter No. 119/ SRT/CORPSEC/ TE-JKT/X/2016 and Approval Letter of the Board of Commissioners No. 004/DEKOMSRT/TE-JKT/X/2016 dated on October 7, 2016, to carry out auditing on the Company’s 2016 Financial Statements, with the fee amount of Rp1.1 billion (excluding VAT). Beside duties and responsibilities as agreed, the Company’s Accountant provides no other services.
RISK MANAGEMENT In each operational activity, the Company cannot avoid the incidence of business risks. However, the existence of potential risks is still manageable and the Company has a system of risk management that includes identification, evaluation and control of risks that might threaten the sustainability of Company’s business activity. By 2016, the Company has identified some possible risks that might arise and affect the growth of TEMAS Line. The risks are divided into two categories, namely operational risks and economy risks, with the following descriptions and countermeasures: Operational Risks • Fleet Risk Fleet damages are strongly influencing the Company’s operational continuity. Therefore, the Company strives to carry out maintenance, repair and docking of all vessels periodically. In this case, the Company has been working with Jurong Shipyard in Singapore and Triwarako Utama in Jakarta. •
Accident Risk Risk of ship accident can lead to material losses for the Company. Therefore, the entire Company’s fleet has been equipped with Shipping Insurance.
•
Fuel Risk Significant increase in fuel price would be a negative impact on Company’s finance. To anticipate, the Company will continue its rejuvenation program by selling inefficient and ineffective ships and replacing them with the ones specially designed for operating in Indonesian sea and fuel-efficient.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Economy Risks • Bank Interest Risk Increase in bank interest rates has a direct impact on costs increase. The Company’s strategic effort to manage loan is negotiating with the bank and if necessary by conducting debt restructuring.
During the year 2016, Internal Control Unit has carried out its duties in assisting the Board of Directors by ensuring the Company’s achievement and business continuity, and is responsible for:
•
2. Providing advices to improve effectiveness of risk control process;
•
•
Credit Risk Losses can arise if customers fail to fulfill their obligations in the agreed contract. Therefore, the Company strives to establish good relationship with credible customers and continues to periodically monitor accounts receivable collectability. Industrial Risk Marine transportation industry strongly depends on economic growth. As the anticipation, the Company continues to develop marketing strategies and seizes opportunities in wider areas necessary for equitable distribution logistics. Inflation Risk Rising prices in general will lead to the rise in price of spare parts and in operating costs. Therefore, the Company strives to apply efficiency in all operational lines.
The Company applies risk management system through several strategic measures, such as: 1.
Active supervision by Boards of Commissioners and Directors; 2. Implementation effective and efficient policy procedures; 3. Supervision under reliable information technology system; 4. Proper insurance coverage for ship problems. The Company always evaluates and reviews risk management system to ensure its effectiveness every 3 months through periodic meetings between the Company’s Board of Directors and Board of Commissioners. INTERNAL CONTROL SYSTEM Reliable Internal Control System (ICS) should be established and applied in order to protect the Company’s property and performance, and also to meet regulations. To carry out ICS activities, Board of Directors has formed an Internal Control Unit and placed it evenly on each layer of human resources to improve an effective, efficient, and thorough work system at TEMAS Line.
1. Conducting evaluation on implementation of Company’s initiatives;
3. Conducting evaluation on Company’s compliance toward GCG implementation, applicable regulations and legislations; and 4. Facilitate better external auditor.
audit
implementation
by
Legal Disputes During 2016, the Company dealt with two cases and lawsuits between the Company and PT Multi Diesel Services (MDS), and between the Company and Mr. Setyo Hartono (Commissioner of PT Senopati Samudera Perkasa). Until the completion of this Annual Report, both cases are still in judicial process. Both cases have no material impact on the Company’s operational continuity.
Information Of Administrative Sanction The Company also did not receive administrative sanction in any forms throughout 2016, so that relevant discussion is not necessarily presented.
Access To Corporate Information And Data To provide easy way for all stakeholders to receive Corporate information, TEMAS Line is constantly working to provide information updates about the Company, both through annual reports as well as official website of www.temasline.com. In addition, the Company also continuously provides E-Reporting to Indonesia Financial Services Authority and Indonesia Stock Exchange (IDX) in accordance with prevailing policies and regulations. Other stakeholders, such as customers, prospective customers, or business partners and all those who want to get more information about the Company, can also contact Corporate Secretary via: Email :
[email protected] Mail : Head Office Jakarta, Jl. Yos Sudarso Kav. 33, Sunter Jaya, Tanjung Priok, Jakarta 14350, Phone : (62-21) 430 2388, Fax: (62-21) 4393 8658.
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PENDAHULUAN INTRODUCTION
2016 PERFORMANCE KILAS KINERJA HIGHLIGHTS
LAPORAN MANAJEMEN MANAJEMENT REPORT
PROFIL PERUSAHAAN COMPANY PROFILE
Whistleblowing System In 2016, the Company has officially formed a task force who is responsible in following up any incidents or events considered having elements of misconducts or irregularities. In the mean time, the task force consists of the members of Internal Audit Unit to investigate any reports of irregularity indications.
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According to guideline of whistleblowing system, any form of reporting, evidence of violence, and informant identity will be secured and protected against various possibilities of intervention or threat risk. However, during the year 2016 the Company did not receive any reports related to violences or activities containing elements of fraud or irregularities.
ANALISIS DANDISCUSSION MANAGEMENT PEMBAHASAN AND ANALYSIS MANAJEMEN
TATA KELOLA GOOD CORPORATE PERUSAHAAN GOVERNANCE
TANGGUNG JAWAB CORPORATE SOCIAL SOSIAL PERUSAHAAN RESPONSIBILITY
2016 AUDITED LAPORAN KEUANGAN FINANCIAL STATEMENTS
Laporan AnnualTahunan Report 2016 PT Pelayaran Tempuran Emas Tbk
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2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
CORPORATE SOCIAL RESPONSIBILITY It has been our goals to not only base our working ethics on business matters but also we have strong emphasis to create a great benefits for our society welfare.
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MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
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2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
CORPORATE SOCIAL RESPONSIBILITY During the year 2016, the Company has became an integral part inits operationalsurrounding environment. Therefore, the orientation of the Company’s performance is not only for the business interests, but also aiming to create great benefits for the surrounding welfare, providing more valuesto all stakeholders, and maintaining local environment preservation. The Company’s commitment to the community through the implementation of varied CSR programs becomesan effective means in providing contributions continuously and accountably to all stakeholders, whether to the employees, consumers, shareholders, communities and environment. The Company’s annualCSR program activities include education, social, and welfare programs, and also responsibility to the employment. For the year 2016, the Company has allocated a total of Rp558 million in various forms of CSR activities as follows:
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
•
Community Development
1.
Distribution of basic needs for local community around the Company at Kebon Bawang Village, North Jakarta; 2. Social Service to the elderly in Pemalang; 3. Participated in Eid al-Adha feast in the neighborhood around the Company’s depot 4. Participated in the event of Social Service Operation of Surya Baskara Jaya,Indonesian Navy,in Tablasupa Village, Jayapura 5. Donations to “Himpunan Peduli Kasih untuk Mimika”
•
Responsibility to Employment
Highly dedicated, reliable and professional human resources becomes the main asset for the Company’s increasing business growth. Therefore, the demand for maximum performance of all Company’s employees should be coupled with efforts to improve manpower quality, includingthe increase of employees’ welfare in accordance with employment regulations.
To realize it, the Company has established a policy regarding provision of labor wages at the level of Provincial/Regional minimum wage based on Regulation of the Governor of DKI Jakarta No. 123 Year 2013 on Regional Minimum Wage in DKI Jakarta, and regulations on Regional Minimum Wage in the regions of each branch.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
Wage policy is also based on decision of Board of Directorsand imposes wage and salary adjustments in line withperformance level of employees, and based on comparativewage system in related industry. In addition to salary,various allowances and other facilities are also provided inorder to improve employee performance, including: 1.
Health and insurance facilities through BPJS or otherprivate insurance providers,
2. Employment coverage through BPJS Employmentprogram, including Provident Fund Benefit, Work-Related Accident Benefit and Death Benefit, 3. Housing for employees, 4. Small mosque for Moslem employees, 5. Sport activities, 6. Provision of nutritious and hygienic lunch, and 7. Holiday allowances.
The Company continues to always pay attention toemployees’ welfare and their rights in order to encouragethem to perform effectively and productively in achievingthe Company’s vision and mission. The Company’s fullattention also lies on gender equality, provision of trainingand development evenly across all employee levels,career improvement, and granting remuneration withoutdiscrimination, including provision of special leave foremployees who are about to give birth or other specialleave permits according to applicable regulations.
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2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
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CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
STATEMENT OF RESPONSIBILITY OF BOARD OF COMMISIONERS AND DIRECTORS CONCERNING THE 2016 ANNUAL REPORT OF PT PELAYARAN TEMPURAN EMAS TBK We, the undersigned declare that all information in the 2016 Annual Report of PT Pelayaran Tempuran Emas Tbk has been completely stated, and are responsible for the validity of this Annual Report of the Company. We hereby affirm that this statement is made in solemn and conscientious acknowledgment.
BOARD OF COMMISSIONERS
Wong Chau Lin President Commissioner
Edward Simangunsong
Alfred Natsir
Independent Commissioner
Independent Commissioner
BOARD OF DIRECTORS
Harto Khusumo President Director
Teddy Arief Setiawan
Faty Khusumo
Ganny Zheng
Director
Director
Director
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2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
CONSOLIDATED FINANCIAL LAPORAN STATEMENTS KEUANGAN KONSOLIDASIAN
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MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
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2016 AUDITED FINANCIAL STATEMENTS
PT Pelayaran Tempuran Emas Tbk dan entitas anaknya/ and its subsidiaries Laporan keuangan konsolidasian tanggal 31 Desember 2016 dan untuk tahun yang berakhir pada tanggal tersebut beserta laporan auditor independen/ Consolidated financial statements as of December 31, 2016 and for the year then ended with independent auditors’ report
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INTRODUCTION
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MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
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INTRODUCTION
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GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA LAPORAN POSISI KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 (Disajikan dalam rupiah)
31 Desember 2016/ December 31, 2016
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF FINANCIAL POSITION As of December 31, 2016 (Expressed in rupiah) Catatan/ Notes
31 Desember 2015/ December 31, 2015
ASET
ASSETS
ASET LANCAR Kas dan setara kas Piutang usaha Pihak ketiga - neto Pihak berelasi Piutang lain-lain Persediaan - neto Biaya dibayar dimuka Pajak dibayar dimuka Aset keuangan lancar lainnya Aset lancar lain-lain TOTAL ASET LANCAR
CURRENT ASSETS 32.967.646.232 134.699.876.942 1.854.320.785 3.446.847.962 47.074.615.432 4.800.354.823 35.435.765.613 870.460.896 14.498.437.923
2c,2p,4,38,39 2p,5,38,39 13,19 2d,35 2p,6,38,39 2e,8,13,19 2f,9 2o,18 2c,2p,7,37a, 38,39 10
275.648.326.608
24.430.338.156 172.707.435.021 2.459.400.189 6.648.655.466 22.908.822.963 4.334.772.366 27.717.676.038
Cash and cash equivalents Trade receivables Third parties - net Related party Other receivables Inventories - net Prepaid expenses Prepaid taxes
913.671.550 9.031.490.576
Other current financial assets Other current assets
271.152.262.325
TOTAL CURRENT ASSETS
ASET TIDAK LANCAR Aset pajak tangguhan - neto
NON-CURRENT ASSETS 60.576.695.129
Aset tetap - neto Taksiran tagihan pajak Aset tidak lancar lainnya
2.166.137.439.420 23.299.878.632
2o,18 25.162.538.201 2g,2h,2i,2u,11, 13,19,20,21 1.458.799.630.538 2o,18 1.869.704.033 2f,12 25.076.740.092
TOTAL ASET TIDAK LANCAR
2.250.014.013.181
1.510.908.612.864
TOTAL NON-CURRENT ASSETS
TOTAL ASET
2.525.662.339.789
1.782.060.875.189
TOTAL ASSETS
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.
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Deferred tax assets - net Fixed assets - net Estimated claim for tax refund Other non-current assets
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements taken as a whole.
1
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA LAPORAN POSISI KEUANGAN KONSOLIDASIAN (lanjutan) Tanggal 31 Desember 2016 (Disajikan dalam rupiah)
31 Desember 2016/ December 31, 2016
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued) As of December 31, 2016 (Expressed in rupiah)
Catatan/ Notes
31 Desember 2015/ December 31, 2015
LIABILITAS DAN EKUITAS
LIABILITIES AND EQUITY
LIABILITAS JANGKA PENDEK Utang bank jangka pendek Utang usaha Pihak ketiga Pihak-pihak berelasi Utang lain-lain Beban akrual Utang pajak Pendapatan diterima dimuka Bagian pinjaman jangka panjang yang jatuh tempo dalam waktu satu tahun Utang lain-lain - pihak berelasi Utang bank
CURRENT LIABILITIES 156.500.000.000
2p,13,38,39 2p,14,38,39
85.800.000.000
106.706.790.609 1.500.700.727 161.574.813 10.204.874.599 7.683.968.483 7.876.709.142
2d,35 2p,15,38,39 2p,16,38,39 2o,18 2l
44.000.000.000 183.798.741.082
2p,38,39 2d,19,35 19
59.318.500.000 96.691.360.000
Utang lembaga keuangan Utang sewa pembiayaan
47.391.160.528 30.616.151.773
19 2i,20
40.104.345.778 29.478.963.609
Utang transaksi syariah Utang pembiayaan konsumen
55.114.084.724 455.424.156
2q,21 19
41.577.064.994 634.716.849
Current maturities of long-term debts Other payables - related party Bank loans Loan payable to financial institution Finance lease liabilities Obligation under syariah transactions Consumer financing payables
463.425.983.891
TOTAL CURRENT LIABILITIES
TOTAL LIABILITAS JANGKA PENDEK
652.010.180.636
92.529.990.088 2.775.754 535.819.094 10.270.705.550 5.146.554.379 1.335.187.796
Short-term bank loans Trade payables Third parties Related parties Other payables Accrued expenses Taxes payable Unearned revenues
LIABILITAS JANGKA PANJANG Pinjaman jangka panjang - setelah dikurangi bagian yang jatuh tempo dalam waktu satu tahun Utang bank Utang lembaga keuangan Utang sewa pembiayaan Utang transaksi syariah Utang pembiayaan konsumen Liabilitas pajak tangguhan - neto Liabilitas imbalan kerja jangka panjang TOTAL LIABILITAS JANGKA PANJANG TOTAL LIABILITAS
NON-CURRENT LIABILITIES
508.771.617.719
2p,38,39 19
225.251.417.537
127.739.101.322 25.639.434.326
19 2i,20
89.889.965.431 56.754.721.961
186.740.521.508 4.991.977.635
2q,21 19 2o,18
105.486.009.783 481.598.738 4.908.909.117
25.093.790.406
2m,22
21.196.507.929
Long-term debts - net of current maturities Bank loans Loan payable to financial institution Finance lease liabilities Obligation under syariah transactions Consumer financing payables Deferred tax liabilities - net Long-term employee benefits liability
878.976.442.916
503.969.130.496
TOTAL NON-CURRENT LIABILITIES
1.530.986.623.552
967.395.114.387
TOTAL LIABILITIES
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements taken as a whole.
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA LAPORAN POSISI KEUANGAN KONSOLIDASIAN (lanjutan) Tanggal 31 Desember 2016 (Disajikan dalam rupiah) 31 Desember 2016/ December 31, 2016
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued) As of December 31, 2016 (Expressed in rupiah) Catatan/ Notes
31 Desember 2015/ December 31, 2015
EKUITAS
EQUITY
Ekuitas yang Dapat Diatribusikan kepada Pemilik Entitas Induk
Equity Attributable to Owners of the Parent Entity
Modal saham - nilai nominal Rp125 per saham Modal dasar - 4.560.000.000 saham Modal ditempatkan dan disetor penuh - 1.141.030.000 saham 142.628.750.000 Tambahan modal disetor 145.603.049.314 Saldo laba Telah ditentukan penggunaannya 34.823.179.931 Belum ditentukan penggunaannya 773.660.578.307 Rugi komprehensif lain (103.349.363.063)
23 1b,2j,2k,24
142.628.750.000 145.603.049.314
26 2b,25
34.823.179.931 589.933.190.599 (99.488.884.785)
28
813.499.285.059 1.166.475.743
Net Equity Attributable to Owners of the Parent Entity Non-controlling Interests
Ekuitas Neto yang Dapat Diatribusikan kepada Pemilik Entitas Induk Kepentingan Nonpengendali
993.366.194.489 1.309.521.748
TOTAL EKUITAS
994.675.716.237
814.665.760.802
TOTAL EQUITY
2.525.662.339.789
1.782.060.875.189
TOTAL LIABILITIES AND EQUITY
TOTAL LIABILITAS DAN EKUITAS
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.
94
Capital stock - Rp125 par value per share Authorized - 4,560,000,000 shares Issued and fully paid 1,141,030,000 shares Additional paid-in capital Retained earnings Appropriated Unappropriated Other comprehensive loss
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements taken as a whole.
3
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA LAPORAN LABA RUGI DAN PENGHASILAN KOMPREHENSIF LAIN KONSOLIDASIAN Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2016 (Disajikan dalam rupiah)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the Year Ended December 31, 2016 (Expressed in rupiah)
Tahun yang Berakhir pada tanggal 31 Desember/ Year Ended December 31,
Pendapatan jasa Pendapatan jasa yang saling dihapuskan dengan beban jasa terkait
2016
Catatan/ Notes
2015
1.755.284.162.001
2l,30
1.720.965.422.311
Service revenue
2l,30
(99.601.083.071)
Service revenue net off with related cost of service
1.621.364.339.240
NET SERVICE REVENUE
2l,31
1.267.271.914.201
Cost of services
2l,31
(99.601.083.071)
Cost of services for offset off with related service
1.227.850.405.646
1.167.670.831.130
NET COST OF SERVICES
444.054.610.364
453.693.508.110
GROSS PROFIT
(83.379.145.991)
PENDAPATAN JASA NETO
1.671.905.016.010
Beban jasa
1.311.229.551.637
Beban jasa yang saling dihapuskan dengan pendapatan jasa terkait BEBAN JASA NETO LABA BRUTO Beban usaha Laba pelepasan aset tetap Rugi penurunan nilai aset Penghasilan (rugi) operasi lain LABA USAHA
(83.379.145.991)
(110.080.441.402) 2.672.501.813 (32.799.358.183)
2l,2d,32 2g,11 2h,11 2l,17
303.847.312.592
Laba (rugi) selisih kurs - neto Pendapatan keuangan Pajak final atas pendapatan bunga Laba atas nilai wajar Beban keuangan
9.057.492.012 1.132.880.343 (226.576.069) 9.385.875.850 (91.100.348.680)
LABA SEBELUM PAJAK FINAL DAN BEBAN PAJAK PENGHASILAN
232.096.636.048
Pajak final
(14.313.248.487)
LABA SEBELUM BEBAN PAJAK PENGHASILAN
217.783.387.561
Manfaat pajak penghasilan
13.737.761.127
LABA TAHUN BERJALAN
231.521.148.688
(96.626.647.995) 24.009.312.881 (10.980.005.000) 37.902.745.536
Operating expenses Gain on disposal of fixed assets Loss on impairment of asset Other operating income (loss)
407.998.913.532
INCOME FROM OPERATIONS
2l,33
(20.635.915.370) 1.187.825.640
Gain (loss) on foreign exchange - net Finance income
2l,34
(237.565.128) (70.672.637.820)
Final tax on interest income Gain on fair value Finance costs
317.640.620.854 2o,18
2o,18
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.
(13.164.302.705)
INCOME BEFORE FINAL TAX AND INCOME TAX EXPENSE Final tax
304.476.318.149
INCOME BEFORE INCOME TAX EXPENSE
12.697.817.092
Income tax benefit
317.174.135.241
INCOME FOR THE YEAR
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements taken as a whole.
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA LAPORAN LABA RUGI DAN PENGHASILAN KOMPREHENSIF LAIN KONSOLIDASIAN (lanjutan) Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2016 (Disajikan dalam rupiah)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (continued) For the Year Ended December 31, 2016 (Expressed in rupiah)
Tahun yang Berakhir pada tanggal 31 Desember/ Year Ended December 31, Catatan/ Notes
2016
2015
PENGHASILAN (RUGI) KOMPREHENSIF LAIN Rugi komprehensif lain yang akan direklasifikasikan laba rugi pada periode berikutnya: Selisih kurs karena penjabaran laporan keuangan
OTHER COMPREHENSIVE INCOME (LOSS)
(3.082.598.838)
2b,25
(14.943.226.495)
Other comprehensive loss to be reclassified to profit or loss in subsequent periods: Difference in foreign currency translation
(704.612.759) (102.425.987)
Other comprehensive income (loss) not to be reclassified to profit or loss in subsequent periods: Remeasurement income (loss) on post-employment benefits liability Related income tax
Penghasilan (rugi) komprehensif lain yang tidak akan direklasifikasikan ke menjadi laba rugi pada periode berikutnya: Laba (rugi) pengukuran kembali liabilitas imbalan pascakerja Pajak penghasilan terkait
(935.007.781) 154.031.033
22 18
PENGHASILAN KOMPREHENSIF NETO TAHUN BERJALAN
227.657.573.102
301.423.870.000
NET COMPREHENSIVE INCOME FOR THE YEAR
Laba tahun berjalan yang dapat diatribusikan kepada: Pemilik Entitas Induk Kepentingan Nonpengendali
231.308.338.708 212.809.980
316.970.250.888 203.884.353
Income for the year attributable to: Owners of the Parent Entity Non-controlling Interests
Total
231.521.148.688
317.174.135.241
Total
Total Laba (rugi) komprehensif tahun berjalan yang dapat diatribusikan kepada: Pemilik Entitas Induk Kepentingan Nonpengendali
227.447.860.430 209.712.672
301.219.985.647 203.884.353
Total comprehensive income for the year attributable to: Owners of the Parent Entity Non-controlling Interests
Total
227.657.573.102
301.423.870.000
Total
278
EARNINGS PER SHARE ATTRIBUTABLE TO OWNERS OF THE PARENT ENTITY
LABA PER SAHAM YANG DAPAT DIATRIBUSIKAN KEPADA PEMILIK ENTITAS INDUK
203
2r,29
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.
96
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements taken as a whole.
5
145.603.049.314
(103.951.545.792)
-
-
(3.082.598.838)
-
(100.868.946.954)
-
-
(14.943.226.495)
-
(85.925.720.459)
602.182.729
-
-
(777.879.440)
-
1.380.062.169
-
-
(807.038.746)
-
2.187.100.915
6
Laba (rugi) pengukuran kembali liabilitas imbalan pascakerja/ Remeasurement income (loss) on post-employment benefits liability
-
34.823.179.931
-
-
-
-
34.823.179.931
773.660.578.307
-
(47.580.951.000)
-
231.308.338.708
589.933.190.599
-
(20.324.182.893)
-
316.970.250.888
293.287.122.604
Belum ditentukan penggunaannya/ Unappropriated
993.366.194.489
-
(47.580.951.000)
(3.860.478.278)
231.308.338.708
813.499.285.059
-
(20.324.182.893)
(15.750.265.241)
316.970.250.888
532.603.482.305
Total/Total
1.309.521.748
(66.666.667)
-
(3.097.308)
212.809.980
1.166.475.743
(318.619.435)
-
-
203.884.353
1.281.210.825
Kepentingan non pengendali/ Non-controlling interests
The accompanying notes form an integral part of these consolidated financial statements.
(103.349.363.063)
-
-
(3.860.478.278)
(99.488.884.785)
-
-
-
-
34.823.179.931
(15.750.265.241)
-
(83.738.619.544)
Sub-total
Telah ditentukan penggunaannya/ Appropriated
Saldo laba/ Retained earnings
994.675.716.237
(66.666.667)
(47.580.951.000)
(3.863.575.586)
231.521.148.688
814.665.760.802
(318.619.435)
(20.324.182.893)
(15.750.265.241)
317.174.135.241
533.884.693.130
Total Ekuitas/ Total Equity
Balance as of December 31, 2016
Subsidiary’s distribution of cash dividend to non-controlling interests
Distribution of cash dividends
Net other comprehensive income for the year
Income for the year
Balance as of December 31, 2015
Subsidiary’s distribution of cash dividend to non-controlling interests
Distribution of cash dividends
Net other comprehensive income for the year
Income for the year
Balance as of January 1, 2015
CORPORATE SOCIAL RESPONSIBILITY
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.
142.628.750.000
-
-
-
-
145.603.049.314
-
-
-
-
145.603.049.314
Selisih kurs dari penjabaran laporan keuangan/ Difference in foreign currency translation
Penghasilan Komprehensif Lain/ Other Comprehensive Income
Ekuitas yang dapat diatribusikan kepada pemilik entitas induk/ Equity attributable to owners of the parent entity
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the Year Ended December 31, 2016 (Expressed in rupiah)
GOOD CORPORATE GOVERNANCE
Saldo tanggal 31 Desember 2016
-
Pembagian dividen kas
Pembagian dividen kas Entitas Anak kepada kepentingan nonpengendali
-
Penghasilan komprehensif lain neto tahun berjalan
27
-
142.628.750.000
Laba tahun berjalan
Saldo tanggal 31 Desember 2015
-
Pembagian dividen kas
Pembagian dividen kas Entitas Anak kepada kepentingan nonpengendali
-
Penghasilan komprehensif lain neto tahun berjalan
27
-
142.628.750.000
Modal saham/ capital stock
Laba tahun berjalan
Saldo tanggal 1 Januari 2015
Catatan/ Notes
Tambahan modal disetor/ Additional paidincapital
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2016 (Disajikan dalam rupiah)
The original consolidated financial statements included herein are in the Indonesian language.
MANAGEMENT DISCUSSION AND ANALYSIS 2016 AUDITED FINANCIAL STATEMENTS
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
97
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA LAPORAN ARUS KAS KONSOLIDASIAN Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2016 (Disajikan dalam rupiah)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWS For the Year Ended December 31, 2016 (Expressed in rupiah)
Tahun yang Berakhir pada tanggal 31 Desember/ Year Ended December 31, 2016 ARUS KAS DARI AKTIVITAS OPERASI Penerimaan kas dari pelanggan Pengeluaran kas kepada pemasok dan untuk beban usaha Pengeluaran kas kepada karyawan dan anak buah kapal Penerimaan dari klaim asuransi Penerimaan dari pendapatan bunga Pembayaran atas: Beban bunga Pajak Beban murabahah Kas neto diperoleh dari aktivitas operasi
Catatan/ Notes
1.710.280.429.466
1.627.807.417.138
(1.067.600.743.823)
(992.710.475.452)
(131.675.127.579) 3.787.721.551 906.304.274
33
(110.308.882.220) 7.287.103.260 950.260.512
21
(59.747.314.901) (29.466.197.959) (17.382.662.835)
(78.993.449.260) (30.994.413.805) (13.329.922.212) 392.380.798.612
ARUS KAS DARI AKTIVITAS INVESTASI Hasil pelepasan aset tetap Perolehan aset tetap
51.697.791.044 (847.481.877.296)
Kas neto digunakan untuk aktivitas investasi
(795.784.086.252)
426.429.247.543
11
CASH FLOWS FROM OPERATING ACTIVITIES Cash received from customers Cash paid to suppliers and for operating expenses Cash paid to employees and vessel crews Proceeds from insurance claims Receipts of interest income Payments for: Interest expense Taxes Murabahah expense Net cash provided by operating activities
6.623.603.098 (61.483.382.327)
CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from disposal of fixed assets Acquisitions of fixed assets
(54.859.779.229)
Net cash used for investing activities
ARUS KAS DARI AKTIVITAS PENDANAAN Perolehan dari utang bank jangka panjang Perolehan dari utang transaksi syariah Penerimaan (pembayaran) utang bank jangka pendek - neto Pembayaran utang pihak berelasi lain-lain - neto Pembayaran: Utang bank jangka panjang Utang lembaga keuangan
(118.356.849.019) (44.229.189.992)
19 19
(255.190.796.519) (32.964.966.398)
Utang transaksi syariah Utang sewa pembiayaan
(42.938.973.597) (27.530.505.640)
21
(37.052.761.921) (37.735.282.616)
Utang pembiayaan konsumen Pembayaran dividen
(660.891.431) (47.580.951.000)
19 27
(877.076.714) (20.324.182.893)
CASH FLOWS FROM FINANCING ACTIVITIES Proceeds of long-term bank loans Proceeds from obligation under syariah transactions Proceeds (payment) of short-term bank loans - net Payment of other related party payables - net Payments for: Long-term bank loans financial institution Obligation under syariah transactions Finance lease liabilities Loan payable to Consumer financing payables Dividend payment
Kas neto diperoleh dari (digunakan untuk) aktivitas pendanaan
410.334.228.921
(384.247.210.383)
Net cash provided by (used for) financing activities
493.170.700.000
-
143.079.389.600
82.493.823.194
70.700.000.000
(43.495.823.910)
(15.318.500.000)
(39.100.142.606)
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.
98
2015
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
The accompanying notes form an integral part of these consolidated financial statements.
7
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA LAPORAN ARUS KAS KONSOLIDASIAN (lanjutan) Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2016 (Disajikan dalam rupiah)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWS (continued) For the Year Ended December 31, 2016 (Expressed in rupiah)
Tahun yang Berakhir pada tanggal 31 Desember/ Year Ended December 31, 2016
Catatan/ Notes
2015
PENGARUH NETO PERUBAHAN KURS PADA KAS DAN SETARA KAS
1.606.366.795
(5.772.502.758)
NET EFFECT OF CHANGES IN EXCHANGE RATES ON CASH AND CASH EQUIVALENTS
KENAIKAN (PENURUNAN) NETO KAS DAN SETARA KAS
8.537.308.076
(18.450.244.827)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
KAS DAN SETARA KAS AWAL TAHUN
24.430.338.156
42.880.582.983
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
KAS DAN SETARA KAS AKHIR TAHUN
32.967.646.232
24.430.338.156
CASH AND CASH EQUIVALENTS AT END OF YEAR
4
Supplementary cash flow information is disclosed in Note 42.
Informasi tambahan aktivitas arus kas diungkapkan dalam Catatan 42.
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.
The accompanying notes form an integral part of these consolidated financial statements.
8
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
99
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 1.
UMUM a.
100
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated) 1.
Pendirian Perusahaan
GENERAL a.
Company’s Establishment
PT Pelayaran Tempuran Emas Tbk (“Perusahaan”) didirikan dengan nama PT Tempuran Emas berdasarkan akta notaris Misahardi Wilamarta, S.H., No. 252 tanggal 17 September 1987, yang telah diubah dengan akta notaris No. 350 tanggal 18 November 1987 oleh notaris yang sama. Akta pendirian dan perubahannya telah disahkan oleh Menteri Kehakiman Republik Indonesia dalam Surat Keputusan No. C2-2545.HT.01.01.TH’88 tanggal 22 Maret 1988, serta telah diumumkan dalam Berita Negara Republik Indonesia No. 101, Tambahan No. 1376 tanggal 16 Desember 1988. Perubahan nama Perusahaan menjadi PT Pelayaran Tempuran Emas dilakukan berdasarkan akta notaris Misahardi Wilamarta, S.H., No. 28 tanggal 5 Februari 1997 dan telah mendapat persetujuan dari Menteri Kehakiman Republik Indonesia dalam Surat Keputusan No. C2-1656.HT.01.04.TH.98 tanggal 12 Maret 1998 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 91, Tambahan No. 6347 tanggal 13 November 1998.
PT Pelayaran Tempuran Emas Tbk (the “Company”) was established under the name PT Tempuran Emas based on notarial deed No. 252 dated September 17, 1987 of Misahardi Wilamarta, S.H., which was amended by notarial deed No. 350 dated November 18, 1987 of the same notary. The deed of establishment and its amendment were approved by the Ministry of Justice of the Republic of Indonesia in its Decision Letter No. C2-2545.HT.01.01.TH’88 dated March 22, 1988 and were published in Supplement No. 1376 of State Gazette No. 101 dated December 16, 1988. The Company changed its name to PT Pelayaran Tempuran Emas based on notarial deed No. 28 dated February 5, 1997 of Misahardi Wilamarta, S.H., which was approved by the Ministry of Justice of the Republic of Indonesia in its Decision Letter No. C2-1656.HT.01.04.TH.98 dated March 12, 1998 and was published in Supplement No. 6347 of State Gazette No. 91 dated November 13, 1998.
Anggaran dasar Perusahaan telah mengalami beberapa kali perubahan, terakhir diubah dengan akta notaris Herdimansyah Chaidirsyah, S.H., No. 22 tanggal 4 Desember 2015, mengenai perubahan beberapa pasal pada Anggaran Dasar Perusahaan. Perubahan tersebut telah disetujui oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU0947340.AH.01.02.2015 tanggal 4 Desember 2015.
The Company’s articles of association has been amended from time to time, the latest of which was amended by notarial deed No. 22 dated December 4, 2015 of Herdimansyah Chaidirsyah, S.H., concerning changes in several articles in the Company’s articles of association. The amendment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-0947340.AH.01.02.2015 dated December 4, 2015.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
9
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 1.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
UMUM (lanjutan) a.
b.
1.
Pendirian Perusahaan (lanjutan)
GENERAL (continued) a.
Company’s Establishment (continued)
Perubahan terakhir susunan dewan komisaris dan direksi Perusahaan termuat dalam akta notaris Herdimansyah Chaidirsyah, S.H., No. 26 tanggal 4 Juli 2014, dimana perubahan ini telah diterima dan dicatat oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia berdasarkan Surat No. AHU-18455.40.22.2014 tanggal 8 Juli 2014.
The last change of the Company’s boards of commissioners and directors was notarized under deed No. 26 dated July 4, 2014 of Herdimansyah Chaidirsyah, S.H., which was reported and acknowledged by the Ministry of Law and Human Rights of the Republic of Indonesia based on its Letter No. AHU18455.40.22.2014 dated July 8, 2014.
Sesuai dengan pasal 3 anggaran dasar Perusahaan, Perusahaan bergerak dalam bidang pengangkutan baik domestik maupun internasional, terutama pengangkutan penumpang, kendaraan, barang dan hewan dengan kapal laut, bertindak sebagai agen dari usaha pelayaran serta melaksanakan pembelian dan penjualan kapal-kapal dan perlengkapannya. Kegiatan usaha penunjang dari persereoan adalah sewa-menyewa kapal, lahan, bangunan, serta kegiatan transportasi darat dan logistik.
In accordance with article 3 of the Company’s articles of association, the Company engages in both domestic and international transportation activities, particularly in transporting passengers, cargoes and animals by vessels, acts as an agent in the shipping business and is involved in the purchase and sale of vessels and related equipment. Supporting activities of the Company is leasing of vessels, land, buildings, and activities of transportation and logistic.
Kantor pusat Perusahaan berlokasi di Jalan Yos Sudarso Kavling 33, Jakarta Utara, dengan kantor cabang di Medan, Surabaya, Makassar, Bitung, Pontianak, Banjarmasin, Pekanbaru, Ambon, Jayapura dan Sorong. Kapal yang dioperasikan oleh Perusahaan hanya berlayar di perairan dalam negeri. Perusahaan mulai beroperasi secara komersial pada tahun 1988.
The Company’s head office is located at Jl. Yos Sudarso Kavling 33, North Jakarta with branches in Medan, Surabaya, Makassar, Bitung, Pontianak, Banjarmasin, Pekanbaru, Ambon, Jayapura and Sorong. The Company’s vessels operate only in domestic seas. The Company started its commercial operations in 1988.
Penawaran Umum efek ekuitas Perusahaan
b.
Pada tahun 2003, Perusahaan menawarkan 55.000.000 saham dengan nilai nominal sebesar Rp250 per saham kepada masyarakat pada harga penawaran sebesar Rp550 per saham. Penawaran tersebut sesuai dengan Surat No. S-1516/PM/2003 tanggal 25 Juni 2003, yang diterbitkan oleh Ketua Badan Pengawas Pasar Modal (BAPEPAM). Selisih lebih antara harga penawaran dengan nilai nominal per saham, setelah memperhitungkan biaya penerbitan saham dan transaksi selanjutnya yang berkaitan dengan dividen saham dan saham bonus, dicatat sebagai “Tambahan Modal Disetor” yang disajikan sebagai bagian dari Ekuitas pada laporan posisi keuangan konsolidasian. Perusahaan telah mencatatkan seluruh sahamnya di Bursa Efek Indonesia sesuai dengan Surat Direksi PT Bursa Efek Jakarta No. S-1155/BEJ-PSJ/07-2003 tanggal 3 Juli 2003.
10
Public offerings of the Company's equity securities In 2003, the Company offered 55,000,000 shares with a par value of Rp250 per share to the public at an offering price of Rp550 per share. Such offering was in accordance with Letter No. S-1516/PM/2003 dated June 25, 2003 issued by the Head of the Capital Market Supervisory Agency (BAPEPAM). The excess of the share offer price over the par value per share, net of stock issuance costs and the subsequent transactions relating to stock dividend and bonus shares, was recognized as “Additional Paid-in Capital”, which is presented under the Equity section of the consolidated statement of financial position. The Company has registered all of its shares in the Indonesia Stock Exchange in accordance with Letter No. S-1155/BEJ-PSJ/07-2003 dated July 3, 2003 from the Director of PT Bursa Efek Jakarta.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
101
2016 PERFORMANCE HIGHLIGHTS
INTRODUCTION
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 1.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
UMUM (lanjutan) c.
1.
Dewan Komisaris dan Direksi, Komite Audit serta Karyawan
GENERAL (continued) c.
Susunan Dewan Komisaris dan Direksi Perusahaan pada tanggal-tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:
Boards of Commissioners and Directors, Audit Committee and Employees The composition of the Company’s Boards of Commissioners and Directors as of December 31, 2016 and 2015 was as follows:
31 Desember 2016 dan 2015/December 31, 2016 and 2015 Dewan Komisaris Komisaris Utama Komisaris Independen Komisaris Independen Direksi Direktur Utama Direktur Direktur Direktur
Board of Commissioners President Commissioner Independent Commissioner Independent Commissioner
Wong Chau Lin Edward Simangunsong Alfred Natsir
Board of Directors President Director Director Director Director
Harto Khusumo Faty Khusumo Ganny Zheng Teddy Arief Setiawan
Susunan Komite Audit Perusahaan pada tanggal-tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:
The composition of the Company’s Audit Committee as of December 31, 2016 and 2015 was follows:
31 Desember 2016 dan 2015/December 31, 2016 and 2015 Komite Audit Ketua Anggota Anggota
102
Edward Simangunsong Alfred Natsir Ardi Dharmono
Audit Committee Chairman Member Member
Perusahaan dan Entitas Anak (selanjutnya disebut “Kelompok Usaha”) memiliki 407 dan 367 karyawan tetap (tidak diaudit) masingmasing pada tanggal-tanggal 31 Desember 2016 dan 2015.
As of December 31, 2016 and 2015, the Company and its Subsidiaries (collectively referred to hereafter as “the Group”) had 407 and 367 permanent employees, respectively (unaudited).
PT Temas Lestari adalah entitas induk langsung Perusahaan dan juga merupakan entitas induk terakhir dalam Kelompok Usaha.
PT Temas Lestari is the immediate parent company of the Company and also the ultimate parent company of the Group.
Manajemen Kelompok Usaha bertanggung jawab atas penyusunan laporan keuangan konsolidasian yang diotorisasi untuk terbit pada tanggal 29 Maret 2017.
The management of the Group is responsible for the preparation of the consolidated financial statements that were authorized for issue on March 29, 2017.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
11
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 1.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
UMUM (lanjutan) d.
1.
Entitas Anak
GENERAL (continued) d.
As of December 31, 2016 and 2015 , the Company has consolidated the following directly or indirectly owned subsidiaries:
Pada tanggal 31 Desember 2016 dan 2015, perusahaan telah mengkonsolidasikan laporan keuangan semua entitas anak yang dimiliki secara langsung maupun tidak langsung, sebagai berikut:
Nama entitas anak/ Name of subsidiaries
Persentase kepemilikan/ Percentage of ownership
Jumlah asset sebelum eliminasi/ Total assets before elimination
Kegiatan usaha/ Principal activity
Malta
Jasa penyewaan petikemas/ Lease of containers
2003
99,99%
PT Bongkar Muat Olah Jasa Trisari Andal (Trisari)
Jakarta
Jasa bongkar muat dan jasa terkait/ Stevedoring and other related services
2002
99,00%
148.283.343.683
153.366.530.734
PT Pelayaran Tirtamas Express (Tirtamas)
Jakarta
Jasa pelayaran/ Shipping
2003
99,69%
158.719.278.360
107.834.870.618
PT Escorindo Stevedoring (Escorindo)
Jakarta
Jasa bongkar muat dan jasa terkait/ Stevedoring and other related services
2003
99,67%
178.596.270.772
106.258.650.413
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN a.
Tahun beroperasi secara komersial/ Start of commercial operations
Lokasi/ Location
Anemi Maritime Co.,Ltd. (Anemi)
2.
Subsidiaries
Dasar penyajian konsolidasian
laporan
2.
keuangan
Laporan keuangan konsolidasian telah disusun dan disajikan sesuai dengan Standar Akuntansi Keuangan di Indonesia (“SAK”), yang mencakup Pernyataan Standar Akuntansi Keuangan (“PSAK”) dan Interpretasi Standar Akuntansi Keuangan (“ISAK”) yang dikeluarkan oleh Dewan Standar Akuntansi Keuangan (“DSAK”) Ikatan Akuntan Indonesia dan peraturan yang terkait dengan penyajian dan pengungkapan laporan keuangan yang dikeluarkan oleh Otoritas Jasa Keuangan (“OJK”).
12
2016
2015
545.618.225
630.044.433
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a.
Basis of preparation of the consolidated financial statements The consolidated financial statements have been prepared and presented in accordance Accounting with Indonesian Financial Standards (“SAK”), which comprise the Statements of Financial Accounting Standards (“PSAK”) and Interpretations of Financial Accounting Standards (“ISAK”) issued by the Financial Accounting Standards Board (“DSAK”) of the Indonesian Institute of Accountants and the regulations relating to financial statement presentation and disclosures issued by the Otoritas Jasa Keuangan (“OJK”).
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103
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) a.
b.
Dasar penyajian laporan konsolidasian (lanjutan)
keuangan
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) a.
Basis of preparation of the consolidated financial statements (continued)
Laporan keuangan konsolidasian disusun berdasarkan asas akrual, dengan menggunakan konsep biaya historis, kecuali untuk beberapa akun tertentu yang disajikan berdasarkan pengukuran lain sebagaimana diuraikan dalam kebijakan akuntansi masingmasing akun tersebut.
The consolidated financial statements have been prepared on the accrual basis, using the historical cost basis of accounting, except for certain accounts which are stated on the bases described in the related accounting policies for those accounts.
Laporan arus kas konsolidasian disusun dengan menggunakan metode langsung dan mengelompokkan arus kas dalam aktivitas operasi, investasi dan pendanaan.
The consolidated statement of cash flows is prepared using the direct method and presents cash flows classified into operating, investing and financing activities.
Mata uang pelaporan yang digunakan dalam penyusunan laporan keuangan konsolidasian adalah rupiah (Rp), yang juga merupakan mata uang fungsional Perusahaan dan Entitas Anak kecuali Anemi Maritime Co. Ltd., yang mata uang fungsionalnya adalah dollar Amerika Serikat.
The reporting currency used in the consolidated financial statements is the Indonesian rupiah (Rp), which is also the functional currency of the Company and Subsidiaries except Anemi Maritime Co. Ltd., whose functional currency is the U.S. dollar.
Prinsip-prinsip konsolidasian
b.
Principles of consolidation
Laporan keuangan konsolidasian terdiri dari laporan keuangan Perusahaan dan Entitas Anaknya.
The consolidated financial statements comprise the financial statements of the Company and its Subsidiaries.
Pengendalian didapat ketika Perusahaan terekspos atau memiliki hak atas imbal hasil variabel dari keterlibatannya dengan investee dan memiliki kemampuan untuk mempengaruhi imbal hasil tersebut melalui kekuasaannya atas investee.
Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee.
Secara spesifik, Kelompok Usaha mengendalikan investee jika dan hanya jika Kelompok Usaha memiliki seluruh hal berikut ini:
Specifically, the Group controls an investee if and only if the Group has:
•
Kekuasaan atas investee (misal, hak yang ada memberi kemampuan kini untuk mengarahkan aktivitas relevan investee)
•
•
Eksposur atau hak atas imbal hasil variabel dari keterlibatannya dengan investee Kemampuan untuk menggunakan kekuasaannya atas investee untuk mempengaruhi jumlah imbal hasil investor
•
•
104
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
•
13
Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee) Exposure, or rights, to variable returns from its involvement with the investee The ability to use its power over the investee to affect its returns.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) b. Prinsip-prinsip konsolidasian (lanjutan)
• •
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) b. Principles of consolidation (continued) When the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including:
Ketika Kelompok Usaha memiliki kurang dari hak suara mayoritas, Kelompok Usaha dapat mempertimbangkan semua fakta dan keadaan yang relevan dalam menilai apakah memiliki kekuasaan atas investee, termasuk: •
2.
Pengaturan kontraktual dengan pemilik hak suara yang lain Hak yang timbul dari pengaturan kontraktual lain Hak suara dan hak suara potensial Kelompok Usaha.
• • •
The contractual arrangement with the other vote holders of the investee Rights arising from other contractual arrangements The Group’s voting rights and potential voting rights.
Kelompok Usaha menilai kembali apakah investor mengendalikan investee jika fakta dan keadaan mengindikasikan adanya perubahan terhadap satu atau lebih dari tiga elemen pengendalian. Konsolidasi atas entitas anak dimulai ketika Kelompok Usaha memiliki pengendalian atas entitas anak dan berhenti ketika Kelompok Usaha kehilangan pengendalian atas entitas anak. Aset, liabilitas, penghasilan dan beban atas entitas anak yang diakuisisi atau dilepas selama periode termasuk dalam laporan laba rugi dan penghasilan komprehensif lain konsolidasian dari tanggal Kelompok Usaha memperoleh pengendalian sampai dengan tanggal Kelompok Usaha menghentikan pengendalian atas entitas anak.
The Group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the period are included in the consolidated statement of profit or loss and other comprehensive income from the date the Group gains control until the date the Group ceases to control the subsidiary.
Laba atau rugi dan setiap komponen atas penghasilan komprehensif lain diatribusikan pada pemegang saham entitas induk Kelompok Usaha dan pada kepentingan non pengendali, walaupun hasil di kepentingan non pengendali mempunyai saldo defisit. Bila diperlukan, penyesuaian dilakukan pada laporan keuangan entitas anak agar kebijakan sesuai dengan kebijakan akuntansinya akuntansi Kelompok Usaha. Semua aset dan liabilitas, ekuitas, penghasilan, beban dan arus kas berkaitan dengan transaksi antar anggota Kelompok Usaha akan dieliminasi secara penuh dalam proses konsolidasi.
Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the parent of the Group and to the non-controlling interests (“NCI”), even if this results in the NCI having a deficit balance. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies in line with the Group’s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.
14
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
105
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) b. Prinsip-prinsip konsolidasian (lanjutan)
• •
A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the Group loses control over a subsidiary, it:
menghentikan pengakuan aset (termasuk goodwill) dan liabilitas entitas anak menghentikan pengakuan jumlah tercatat setiap Kepentingan nonpengendali (KNP) menghentikan pengakuan akumulasi selisih penjabaran, yang dicatat di ekuitas, bila ada
• • •
• • • • • •
106
menghentikan pengakuan aset (termasuk goodwill) dan liabilitas entitas anak menghentikan pengakuan jumlah tercatat setiap Kepentingan nonpengendali (KNP) menghentikan pengakuan akumulasi selisih penjabaran, yang dicatat di ekuitas, bila ada mengakui nilai wajar pembayaran yang diterima mengakui setiap sisa investasi pada nilai wajarnya mengakui setiap perbedaan yang dihasilkan sebagai keuntungan atau kerugian dalam laba rugi mereklasifikasi ke laba rugi proporsi keuntungan dan kerugian yang telah diakui sebelumnya dalam penghasilan komprehensif lain atau saldo laba, begitu pula menjadi persyaratan jika Kelompok Usaha akan melepas secara langsung aset atau liabilitas yang terkait.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
derecognizes the assets (including goodwill) and liabilities of the subsidiary derecognizes the carrying amount of any non-controlling interests derecognizes the cumulative translation differences recorded in equity
A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the Group loses control over a subsidiary, it:
Perubahan kepemilikan di entitas anak, tanpa kehilangan pengendalian, dihitung sebagai transaksi ekuitas. Jika Kelompok Usaha kehilangan pengendalian atas entitas anak, maka: •
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) b. Principles of consolidation (continued)
Perubahan kepemilikan di entitas anak, tanpa kehilangan pengendalian, dihitung sebagai transaksi ekuitas. Jika Kelompok Usaha kehilangan pengendalian atas entitas anak, maka: •
2.
• • •
derecognizes the assets (including goodwill) and liabilities of the subsidiary derecognizes the carrying amount of any non-controlling interests derecognizes the cumulative translation differences recorded in equity
recognizes the fair value of the consideration received • recognizes the fair value of any investment retained • recognizes any surplus or deficit in profit or loss •
•
15
reclassifies the parent’s share of components previously recognized in OCI to profit or loss or retained earnings, as appropriate, as would be required if the Group had directly disposed of the related assets or liabilities.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) c.
d.
Kas dan setara kas
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) c.
Deposito berjangka dengan jangka waktu tiga bulan atau kurang sejak tanggal penempatan yang tidak dibatasi penggunaannya diklasifikasikan sebagai “Setara Kas”.
Time deposits with maturities of three months or less at the time of placement, which are not restricted, are classified as “Cash Equivalents”.
Bank yang dibatasi penggunaannya digunakan untuk pembayaran on-line sehubungan dengan jasa layanan kapal dengan PT Pelabuhan Indonesia (Persero), dan deposito berjangka yang dijadikan jaminan untuk bank garansi tidak diklasifikasikan sebagai bagian dari “Kas dan Setara Kas” akan tetapi disajikan sebagai bagian dari “Aset Keuangan Lancar Lainnya”.
Cash in bank accounts which are restricted to be used for the on-line payment of ship service fees to PT Pelabuhan Indonesia (Persero), and time deposits which are pledged as collateral for bank guarantees are not classified as part of “Cash and Cash Equivalents”. These are presented as part of “Other Current Financial Assets”.
Transaksi dengan pihak-pihak berelasi
d.
f.
Persediaan
Transactions with related parties All significant transactions and balances with related parties are disclosed in the relevant notes to the consolidated financial statements.
Seluruh transaksi dan saldo yang signifikan dengan pihak-pihak berelasi diungkapkan dalam catatan atas laporan keuangan konsolidasian yang terkait. e.
Cash and cash equivalents
e.
Inventories
Persediaan dinyatakan sebesar nilai yang lebih rendah antara biaya perolehan atau nilai realisasi neto (the lower of cost or net realizable value).
Inventories are stated at the lower of cost or net realizable value.
Biaya perolehan ditentukan dengan metode masuk pertama, keluar pertama (FIFO). Penyisihan persediaan usang dan/atau penurunan nilai persediaan disajikan untuk mengurangi nilai tercatat persediaan menjadi nilai realisasi neto.
Cost is determined by the first-in, first-out (FIFO) method. Allowance for inventory obsolescence and/or decline in the value of inventories is provided to reduce the carrying value of inventories to their net realizable value.
Biaya dibayar dimuka
f.
Biaya dibayar dimuka diamortisasi dan dibebankan pada operasi selama masa manfaat dengan menggunakan metode garis lurus. Bagian jangka panjang dari biaya dibayar dimuka disajikan sebagai bagian dari “Aset Tidak Lancar Lainnya” pada laporan posisi keuangan konsolidasian.
16
Prepaid expenses Prepaid expenses are amortized and charged to operations over the years benefited using the straight-line method. The long-term portion of prepaid expenses is shown as part of “Other Non-current Assets” in the consolidated statement of financial position.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
107
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) g.
2.
Aset tetap
g.
Fixed assets
Kelompok Usaha menggunakan model biaya dalam pengukuran aset tetapnya. Aset tetap, kecuali tanah, dinyatakan sebesar biaya perolehan dikurangi akumulasi penyusutan dan amortisasi dan rugi penurunan nilai, jika ada. Biaya perolehan aset tetap termasuk harga pembelian dan setiap biaya yang diatribusikan secara langsung untuk membawa aset ke lokasi dan kondisi masa kini. Pada saat pemeliharaan dan perbaikan yang signifikan dilakukan, biaya tersebut diakui ke dalam nilai tercatat (carrying amount) aset tetap sebagai suatu penggantian jika memenuhi kriteria pengakuan. Semua biaya pemeliharaan dan perbaikan yang tidak memenuhi kriteria pengakuan dibebankan langsung pada operasi berjalan.
The Group uses the cost model for fixed assets measurement. Fixed assets, except for land, are stated at cost less accumulated depreciation and amortization and impairment loss, if any. The cost of fixed assets includes purchase price and any costs directly attributable to bringing the assets to their present location and condition. When significant renewals and betterments are performed, their costs are recognized in the carrying amount of the fixed assets as a replacement if the recognition criteria are satisfied. All other repairs and maintenance costs that do not meet the recognition criteria are charged directly to current operations.
Biaya pemugaran kapal (docking) dan perbaikan lambung kapal (replating) dikapitalisasi pada saat terjadinya dan diamortisasi dengan menggunakan metode garis lurus sampai dengan periode pemugaran kapal berikutnya.
Vessel dry docking costs and hull repairs (replating) are capitalized when incurred and are amortized on a straight-line basis over the period to the next dry docking.
Penyusutan dan amortisasi dihitung dengan menggunakan metode di bawah ini berdasarkan taksiran masa manfaat ekonomis aset:
Depreciation and amortization are computed using the following methods over the estimated useful lives of the assets:
Metode garis lurus Bangunan dan prasarana Kapal Alat berat Biaya pemugaran dan perbaikan kapal Peti kemas Peralatan kapal
Tahun/Years
Metode saldo menurun ganda Kendaraan Peralatan kantor
5 - 20 16 4-8 3-4 8 4
Straight-line method Buildings and improvements Vessels Heavy equipment Dry docking costs and replating Containers Vessel equipment
4 4-8
Double-declining method Vehicles Office equipment
Tanah dinyatakan sebesar biaya perolehan dan tidak disusutkan. Biaya pengurusan legal hak atas tanah dalam bentuk Hak Guna Bangunan (HGB), Hak Guna Usaha (HGU) dan Hak Pakai (HP) ketika tanah diperoleh pertama kali diakui sebagai bagian dari biaya perolehan tanah pada akun aset tetap dan tidak diamortisasi. Biaya pengurusan legal untuk perpanjangan atau pembaharuan hak atas tanah diakui sebagai bagian dari akun “Aset Tidak Lancar Lainnya” pada laporan posisi keuangan konsolidasian dan diamortisasi sepanjang mana yang lebih pendek antara umur hukum hak dan umur ekonomis tanah. 108
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
17
Land is stated at cost and is not depreciated. Legal cost of landright in the form of Building Usage Rights (Hak Guna Bangunan or HGB), Business Usage Rights (Hak Guna Usaha or HGU) and Usage Rights (Hak Pakai or HP) when the land is acquired initially is recognized as part of the cost of the land under the “Fixed Assets” account and not amortized. The extension or the legal renewal cost of landright is recognized as part of “Other Non-current Assets” account in the consolidated statement of financial position and is amortized over the shorter of the rights’ legal life and the land’s economic useful life.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) g.
h.
Aset tetap (lanjutan)
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) g.
Fixed assets (continued)
Jumlah tercatat aset tetap dihentikan pengakuannya pada saat dilepaskan atau saat tidak ada manfaat ekonomis masa depan yang diharapkan dari penggunaan atau pelepasannya. Laba atau rugi yang timbul dari penghentian pengakuan aset (dihitung sebagai selisih antara jumlah neto hasil pelepasan dan jumlah tercatat dari aset) dikreditkan atau dibebankan pada laba rugi tahun berjalan saat aset tersebut dihentikan pengakuannya.
An item of fixed assets is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising from the derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is credited or charged to current profit or loss in the year the asset is derecognized.
Nilai residu, masa manfaat dan metode penyusutan dan amortisasi aset tetap ditelaah dan disesuaikan secara prospektif, apabila diperlukan, pada setiap akhir tahun buku.
The fixed assets’ residual values, useful lives and methods of depreciation and amortization are reviewed and adjusted prospectively, if appropriate, at each financial year.
Penurunan nilai aset non-keuangan
h.
Impairment of non-financial assets
Pada setiap akhir periode pelaporan, Kelompok Usaha menilai apakah terdapat indikasi suatu aset mengalami penurunan nilai. Jika terdapat indikasi tersebut, maka Kelompok Usaha membuat estimasi formal jumlah terpulihkan aset tersebut.
The Group assesses at each annual reporting period whether there is an indication that an asset may be impaired. If any such indication exists, the Group makes an estimate of the asset’s recoverable amount.
Jumlah terpulihkan yang ditentukan untuk aset individual adalah jumlah yang lebih tinggi antara nilai wajar aset atau unit penghasil kas (UPK) dikurangi biaya untuk menjual dengan nilai pakainya, kecuali aset tersebut tidak menghasilkan arus kas masuk yang sebagian besar independen dari aset atau kelompok aset lain. Jika nilai tercatat aset lebih besar daripada nilai terpulihkannya, maka aset tersebut dipertimbangkan mengalami penurunan nilai dan nilai tercatat aset diturunkan nilainya menjadi sebesar nilai terpulihkannya. Rugi penurunan nilai dari operasi yang berkelanjutan diakui pada laporan laba rugi dan penghasilan komprehensif lain konsolidasian sebagai “rugi penurunan nilai”.
An asset’s recoverable amount is the higher of the asset’s or its cash-generating unit’s (CGU’s) fair value less costs to sell and its value in use, and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. Where the carrying amount of an asset exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. Impairment losses of continuing operations are recognized in the consolidated statement of profit or loss and other comprehensive income as “impairment losses”.
18
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109
2016 PERFORMANCE HIGHLIGHTS
INTRODUCTION
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) h.
110
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
Penurunan (lanjutan)
nilai
aset
non-keuangan
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) h.
Impairment (continued)
of
non-financial
assets
Dalam menghitung nilai pakai, estimasi arus kas masa depan neto didiskontokan ke nilai kini dengan menggunakan tingkat diskonto sebelum pajak yang menggambarkan penilaian pasar kini dari nilai waktu uang dan risiko spesifik atas aset.
In assessing the value in use, the estimated net future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.
Dalam menentukan nilai wajar dikurangi biaya untuk menjual, transaksi pasar terkini dijadikan sebagai acuan, jika tersedia. Jika tidak terdapat transaksi tersebut, digunakan model penilaian yang sesuai untuk menentukan nilai wajar aset.
In determining fair value less costs to sell, recent market transactions are taken into account, if available. If no such transactions can be identified, an appropriate valuation model is used to determine the fair value of the asset.
Kerugian penurunan nilai dari operasi yang berkelanjutan, jika ada, diakui pada laporan laba rugi dan penghasilan komprehensif lain konsolidasian sesuai dengan kategori biaya yang konsisten dengan fungsi dari aset yang diturunkan nilainya.
Impairment losses of continuing operations, if any, are recognized in the consolidated statement of profit or loss and other comprehensive income under expense categories that are consistent with the functions of the impaired assets.
Penilaian dilakukan pada akhir setiap periode pelaporan apakah terdapat indikasi bahwa rugi penurunan nilai yang telah diakui dalam periode sebelumnya untuk aset selain goodwill mungkin tidak ada lagi atau mungkin telah menurun. Jika indikasi dimaksud ditemukan, maka entitas mengestimasi jumlah terpulihkan aset tersebut. Kerugian penurunan nilai yang telah diakui dalam periode sebelumnya untuk aset selain goodwill dibalik hanya jika terdapat perubahan asumsi-asumsi yang digunakan untuk menentukan jumlah terpulihkan aset tersebut sejak rugi penurunan nilai terakhir diakui.
An assessment is made at each reporting period as to whether there is any indication that previously recognized impairment losses recognized for an asset other than goodwill may no longer exist or may have decreased. If such indication exists, the recoverable amount is estimated. A previously recognized impairment loss for an asset other than goodwill is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since the last impairment loss was recognized.
Dalam hal ini, jumlah tercatat aset dinaikkan ke jumlah terpulihkannya. Pembalikan tersebut dibatasi sehingga jumlah tercatat aset tidak melebihi jumlah terpulihkannya maupun jumlah tercatat yang telah disesuaikan, penyusutan bersih, seandainya tidak ada rugi penurunan nilai yang telah diakui untuk aset tersebut pada tahun sebelumnya. Pembalikan rugi penurunan nilai diakui sebagai laba rugi. Setelah pembalikan tersebut, penyusutan aset tersebut disesuaikan di tahun mendatang untuk mengalokasikan jumlah tercatat aset yang direvisi, dikurangi nilai sisanya, dengan dasar yang sistematis selama sisa umur manfaatnya.
If that is the case, the carrying amount of the asset is increased to its recoverable amount. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceeds the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Reversal of an impairment loss is recognized in profit or loss. After such a reversal, the depreciation charge on the said asset is adjusted in future years to allocate the asset’s revised carrying amount, less any residual value, on a systematic basis over its remaining useful life.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
19
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) i.
Sewa
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) i.
Leases
Penentuan apakah suatu perjanjian merupakan perjanjian sewa, atau perjanjian yang mengandung sewa, didasarkan atas substansi perjanjian pada tanggal awal sewa dan apakah pemenuhan perjanjian tergantung pada penggunaan suatu aset dan perjanjian tersebut memberikan suatu hak untuk menggunakan aset tersebut. Sewa yang mengalihkan secara substansial seluruh risiko dan manfaat yang terkait dengan kepemilikan aset, diklasifikasikan sebagai sewa pembiayaan.
The determination of whether an arrangement is, or contains, a lease is based on the substance of the arrangement at inception date and whether the fulfillment of the arrangement is dependent on the use of a specific asset and the arrangement conveys a right to use the asset. A lease that transfers substantially to the lessee all the risks and rewards incidental to ownership of the leased asset is classified as a finance lease.
Pada awal masa sewa, lessee mengakui sewa pembiayaan sebagai aset dan liabilitas dalam laporan posisi keuangan sebesar nilai wajar aset sewa pembiayaan atau sebesar nilai kini dari pembayaran sewa minimum, jika nilai kini lebih rendah dari nilai wajar.
At the commencement of the lease term, a lessee recognizes finance lease as an asset and a liability in its statement of financial position at an amount equal to the fair value of the leased property or, if lower, the present value of the minimum lease payments.
Pembayaran sewa minimum dipisahkan antara bagian yang merupakan beban keuangan dan bagian yang merupakan pelunasan liabilitas. Beban keuangan dialokasikan ke setiap periode selama masa sewa.
Minimum lease payments are apportioned between the finance charges and the reduction of the outstanding liability. The finance charges are allocated to each period during the lease term.
Aset sewa pembiayaan yang dimiliki oleh lessee dengan dasar sewa pembiayaan disusutkan secara konsisten dengan metode yang sama yang digunakan untuk aset yang dimiliki langsung, atau disusutkan secara penuh selama jangka waktu yang lebih pendek antara periode masa sewa dan umur manfaat aset sewa pembiayaan, jika tidak ada kepastian yang memadai bahwa lessee akan mendapatkan hak kepemilikan pada akhir masa sewa.
Leased asset held by the lessee under a finance lease is depreciated consistently using the same method used with that for depreciable assets that are directly owned, or is fully depreciated over the shorter of the lease term and its useful life, if there is no reasonable certainty that the lessee will obtain ownership by the end of the lease term.
Sewa yang tidak mengalihkan secara substansial seluruh risiko dan manfaat yang terkait dengan kepemilikan aset diklasifikasikan sebagai sewa operasi. Pembayaran sewa dalam sewa operasi diakui sebagai beban dalam laporan laba rugi dan penghasilan komprehensif lain konsolidasian dengan dasar garis lurus (straight-line basis) selama masa sewa.
Leases which do not transfer substantially all the risks and rewards incidental to ownership are classified as operating leases. Operating lease payments are recognized as an expense in the consolidated statement of profit or loss and other comprehensive income on a straight-line basis over the lease term.
20
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111
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) j.
Biaya atas penerbitan saham
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) j.
Costs incurred in connection with the issuance of capital stock are presented as deduction from additional paid-in capital.
Biaya-biaya yang terjadi sehubungan dengan penerbitan modal saham disajikan sebagai pengurang atas tambahan modal disetor. k.
l.
112
Kombinasi bisnis entitas sepengendali
Stock issuance costs
k.
Business combination of entities under common control
Kombinasi bisnis entitas sepengendali dicatat dengan metode penyatuan kepemilikan (pooling-of-interests), dimana nilai buku historis atas ekuitas neto dari entitas yang diakuisisi digabungkan seolah-olah mereka merupakan entitas tunggal sejak awal periode entitas yang bergabung berada dalam sepengendalian.
Business combination under common control are accounted for using the pooling-ofinterests method, whereby the historical carrying amounts of the net equities of the entities acquired are combined as if they are a single entity since the beginning of the period of the combining entity become under common control.
Selisih antara jumlah imbalan yang dialihkan dengan nilai tercatat aset neto entitas yang diakuisisi diakui sebagai bagian dari akun “Tambahan Modal Disetor”.
The difference between the consideration transferred and book value of the net assets of the acquiree is recognized as part of “Additional Paid-in Capital” account.
Pengakuan pendapatan dan beban
l.
Revenue and expense recognition
Pendapatan diakui bila besar kemungkinan manfaat ekonomi akan diperoleh Kelompok Usaha dan jumlahnya dapat diukur secara andal. Pendapatan diukur pada nilai wajar pembayaran yang diterima, tidak termasuk diskon dan Pajak Pertambahan Nilai (“PPN”).
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received, excluding discounts and Value Added Taxes (“VAT”).
Pendapatan dari kegiatan jasa pengangkutan diakui selama periode perjalanan. Pendapatan dari kegiatan bongkar muat diakui pada saat jasa diserahkan. Penerimaan pembayaran di muka diakui sebagai “Pendapatan Diterima di Muka” dan disajikan sebagai liabilitas jangka pendek dalam laporan posisi keuangan konsolidasian.
Revenues on freight operations are recognized over the periods of the related voyages. Revenues from stevedoring activities are recognized when the services are rendered. Payments received in advance are recognized as “Unearned Revenue”, which is presented under the current liabilities section of the consolidated statement of financial position.
Pendapatan time charter diakui selama periode perjanjian time charter. Biaya dan beban diakui pada saat terjadinya.
Time charter revenue is recognized over the term of the time charter agreement. Cost and expenses are recognized when incurred.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
21
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) m. Imbalan kerja
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) m. Employee benefits
Kelompok Usaha menerapkan PSAK 24 (Revisi 2013), “Imbalan Kerja”.
The Group has adopted PSAK 24 (Revised 2013), “Employee Benefits”.
PSAK ini menetapkan antara lain, (i) menghapuskan “corridor approach” yang digunakan dalam PSAK sebelumnya dan (ii) perubahan signifikan dalam pengakuan, penyajian dan pengungkapan imbalan pascakerja yang antara lain sebagai berikut:
This PSAK provides, among others, (i) the elimination of the “corridor approach” permitted under the previous version and (ii) significant changes in the recognition, presentation and disclosure of postemployment benefits which, among others, are as follows:
•
Keuntungan dan kerugian aktuarial saat ini diharuskan untuk diakui dalam penghasilan komprehensif lainnya (OCI) dan dikeluarkan secara permanen dari laba rugi.
•
Actuarial gains and losses are now required to be recognized in other comprehensive income (OCI) and excluded permanently from profit or loss.
•
Keuntungan yang diharapkan atas plan assets tidak lagi diakui dalam laba rugi. Keuntungan yang diharapkan digantikan dengan mengakui pendapatan bunga (atau beban) atas program manfaat pasti bersih (atau liabilitas) dalam laba atau rugi, yang dihitung menggunakan tingkat diskonto untuk mengukur kewajiban pensiun.
•
Expected return on plan assets will no longer be recognized in profit or loss. Expected returns are replaced by recognizing interest income (or expense) on the net defined benefit asset (or liability) in profit or loss, which is calculated using the discount rate used to measure the pension obligation.
•
Biaya jasa lalu yang belum menjadi hak karyawan tidak bisa lagi ditangguhkan dan diakui periode mendatang. Semua biaya jasa lalu akan diakui lebih awal ketika amandemen/kurtailmen terjadi atau ketika Kelompok Usaha mengakui biaya restrukturisasi atau biaya pemutusan terkait.
•
Unvested past service costs can no longer be deferred and recognized over the future vesting period. Instead, all past service costs will be recognized at the earlier of when the amendment/curtailment occurs or when the Group recognizes related restructuring or termination costs.
Perubahan tersebut dibuat agar aset atau liabilitas pensiun bersih diakui dalam laporan posisi keuangan konsolidasian untuk menggambarkan nilai penuh dari defisit atau surplus program.
Such changes are made in order that the net pension assets or liabilities are recognized in the consolidated statement of financial position to reflect the full value of the plan deficit or surplus.
Perusahaan mengakui liabilitas imbalan kerja jangka pendek ketika jasa diberikan oleh karyawan dan imbalan atas jasa tersebut akan dibayarkan dalam waktu dua belas bulan setelah jasa tersebut diberikan.
The Company recognizes short-term employee benefits liability when services are rendered and the compensation for such services are to be paid within twelve months after the rendering of such services.
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113
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) n.
Transaksi dan saldo dalam mata uang asing
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) n.
Foreign currency balances
transactions
and
Transaksi dalam mata uang asing dicatat dalam mata uang rupiah berdasarkan kurs tengah yang berlaku pada saat transaksi dilakukan. Pada akhir periode laporan, aset dan liabilitas moneter dalam mata uang asing dijabarkan sesuai dengan rata-rata kurs jual dan beli yang diterbitkan oleh Bank Indonesia pada tanggal transaksi perbankan terakhir untuk tahun yang bersangkutan.
Transactions involving foreign currencies are recorded in rupiah at the middle rates of exchange prevailing at the time the transactions are made. At the end of the reporting period, monetary assets and liabilities denominated in foreign currencies are adjusted to reflect the average of the selling and buying rates of exchange prevailing at the last banking transaction day of the year, as published by Bank Indonesia.
Laba atau rugi kurs yang timbul dikreditkan atau dibebankan pada operasi tahun berjalan.
The resulting gains or losses are credited or charged to operations of the current year.
Kurs yang digunakan adalah sebagai berikut:
The rates of exchange used were as follows:
31 Desember/December 31, 2016 1 Euro Eropa 1 Dolar Amerika Serikat 1 Dolar Singapura 1 Yuan Tiongkok 1 Yen Jepang
2015 14.162 13.436 9.299 1.937 115
15.070 13.795 9.751 2.124 115
Transactions in other foreign currencies are insignificant.
Transaksi dalam mata uang asing lainnya tidak signifikan. o.
114
Perpajakan
1 European euro 1 United States dollar 1 Singapore dollar 1 Chinese yuan 1 Japan yen
o.
Taxation
Pajak penghasilan non-final
Non-final income tax
Pajak kini
Current tax
Aset dan liabilitas pajak kini untuk tahun berjalan dan tahun sebelumnya diukur pada jumlah yang diharapkan dapat direstitusi dari atau dibayarkan kepada otoritas perpajakan. Tarif pajak dan peraturan pajak yang digunakan untuk menghitung jumlah tersebut adalah yang berlaku atau secara substantif telah berlaku pada tanggal pelaporan.
Current tax assets and liabilities for the current and prior years are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the reporting date.
Beban pajak kini ditentukan berdasarkan laba kena pajak tahun berjalan yang dihitung berdasarkan tarif pajak yang berlaku.
Current tax expense is determined based on the taxable profit for the year computed using the prevailing tax rates.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
23
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) o.
Perpajakan (lanjutan)
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) o.
Taxation (continued)
Pajak kini (lanjutan)
Current tax (continued)
Kekurangan/kelebihan pembayaran pajak penghasilan dicatat sebagai bagian dari “Beban Pajak Kini” dalam laporan laba rugi dan penghasilan komprehensif lain konsolidasian. Kelompok Usaha juga menyajikan bunga/denda, jika ada, sebagai bagian dari “Beban Pajak Kini”.
Underpayment/overpayment of income tax are presented as part of “Tax Expense Current” in the consolidated statements of profit or loss and other comprehensive income. The Group also presented interest/penalty, if any, as part of “Tax Expense - Current”.
Koreksi terhadap liabilitas perpajakan diakui pada saat surat ketetapan pajak diterima atau, jika diajukan keberatan, pada saat keputusan atas keberatan ditetapkan.
Amendments to tax obligations are recorded when a tax assessment letter is received or, if appealed against, when the result of the appeal is determined.
Pajak tangguhan
Deferred tax
Pajak tangguhan diakui menggunakan metode liabilitas atas perbedaan temporer pada tanggal pelaporan antara dasar pengenaan pajak dari aset dan liabilitas dan nilai tercatatnya untuk tujuan pelaporan keuangan pada akhir tahun pelaporan.
Deferred tax is provided using the liability method on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the end of the reporting year.
Liabilitas pajak tangguhan diakui untuk setiap perbedaan temporer kena pajak.
Deferred tax liabilities are recognized for all taxable temporary differences.
Aset pajak tangguhan diakui untuk semua perbedaan temporer yang dapat dikurangkan dan rugi fiskal belum dikompensasi, sejauh terdapat kemungkinan besar bahwa laba kena pajak akan tersedia untuk dimanfaatkan dengan perbedaan temporer yang dapat dikurangkan dan rugi fiskal belum dikompensasi.
Deferred tax assets are recognized for all deductible temporary differences and carryforward benefits of unused tax losses, to the extent that it is probable that sufficient future taxable income will be available against which the deductible temporary differences, and the carryforward benefits of unused tax losses can be utilized.
24
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
115
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) o.
116
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
Perpajakan (lanjutan)
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) o.
Taxation (continued)
Pajak tangguhan (lanjutan)
Deferred tax (continued)
Nilai tercatat dari aset pajak tangguhan ditelaah pada setiap akhir periode pelaporan dan diturunkan ketika tidak lagi terdapat kemungkinan bahwa akan terdapat laba kena pajak yang memungkinkan semua atau sebagian dari aset pajak tangguhan tersedia untuk direalisasi.
The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable income will be available to allow all or part of the deferred tax assets to be utilized.
Penelaahan dilakukan pada setiap akhir periode pelaporan atas aset pajak tangguhan yang tidak diakui sebelumnya dan aset pajak tangguhan tersebut diakui sepanjang kemungkinan besar laba kena pajak mendatang akan tersedia sehingga aset pajak tangguhan tersebut dipulihkan.
Unrecognized deferred tax assets are reassessed at the end of each reporting period and are recognized to the extent that it has become probable that future taxable income will allow the deferred tax assets to be recovered.
Aset dan liabilitas pajak tangguhan diukur dengan menggunakan tarif pajak yang diharapkan akan berlaku pada tahun saat aset dipulihkan atau liabilitas diselesaikan, berdasarkan tarif pajak (dan peraturan perpajakan) yang berlaku atau secara substantif telah berlaku pada tanggal pelaporan.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.
Aset pajak tangguhan dan liabilitas pajak tangguhan disaling-hapuskan jika terdapat hak secara hukum untuk melakukan saling hapus antara aset pajak kini terhadap liabilitas pajak kini, atau aset dan liabilitas pajak tangguhan pada entitas yang sama dan otoritas perpajakan yang sama.
Deferred tax assets and deferred tax liabilities are offset when legally enforceable right exists to offset current tax assets against current tax liabilities, or the deferred tax assets and the deferred tax liabilities relate to the same taxable entity and the same taxation authority.
Pajak final
Final tax
Peraturan perpajakan di Indonesia mengatur beberapa jenis penghasilan dikenakan pajak yang bersifat final. Pajak final yang dikenakan atas nilai bruto transaksi tetap dikenakan walaupun atas transaksi tersebut pelaku transaksi mengalami kerugian.
Tax regulation in Indonesia determined that certain taxable income is subject to final tax. Final tax applied to gross value of transactions is applied even when the parties carrying the transaction recognizing losses.
Mengacu PSAK No. 46, pajak final tersebut tidak termasuk dalam lingkup yang diatur oleh PSAK No. 46. Oleh karena itu, Kelompok Usaha memutuskan untuk menyajikan beban pajak final sehubungan dengan pendapatan dari jasa angkutan laut dan sewa kapal sebagai pos tersendiri.
Referring PSAK No. 46, final tax is no longer governed by PSAK No. 46. Therefore, the Group has decided to present all of the final tax arising from revenue from sea freight operations and charter of vessels as separate item.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
25
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) o.
Perpajakan (lanjutan)
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) o.
Taxation (continued)
Pajak final (lanjutan)
Final tax (continued)
Berdasarkan Surat Keputusan Menteri Keuangan Republik Indonesia No. 416/ KMK.04/1996 dan No. 417/KMK.04/1996 tanggal 14 Juni 1996 dan Surat Edaran Direktorat Jenderal Pajak No. 29/PJ.4/1996 tanggal 13 Agustus 1996, pendapatan dari jasa angkutan laut dan sewa kapal yang diterima Wajib Pajak Dalam Negeri dan Wajib Pajak Luar Negeri dikenakan pajak bersifat final masing-masing sebesar 1,20% dan 2,64% dari pendapatan, serta biaya sehubungan dengan kegiatan di atas tidak dapat dikurangkan untuk tujuan perhitungan pajak penghasilan.
Based on the Decision Letters No. 416/ KMK.04/1996 and No. 417/KMK.04/1996 dated June 14, 1996 of the Ministry of Finance of the Republic of Indonesia and Circular Letter No. 29/PJ.4/1996 dated August 13, 1996 of the Directorate General of Taxes, revenues from sea freight operations and charter of vessels are subject to final tax computed at 1.20% and 2.64% of the revenues for domestic and foreign companies, respectively, and the related costs and expenses are considered nondeductible for income tax purposes.
Pendapatan Perusahaan dari jasa angkutan laut dan sewa kapal dikenakan pajak bersifat final sebesar 1,20% oleh karena seluruh penghasilan berasal dari wajib pajak dalam negeri.
The Company’s revenues from sea freight operations and charter of vessels are subject to final tax at 1.20%, all its revenues being derived from domestic companies.
Perbedaan nilai tercatat aset atau liabilitas yang berhubungan dengan pajak final dengan dasar pengenaan pajaknya tidak diakui sebagai aset atau liabilitas pajak tangguhan.
The differences between the carrying amounts of existing assets or liabilities related to the final tax and their respective tax bases are not recognized as deferred tax assets or liabilities.
Selisih antara jumlah pajak final yang telah dibayar dengan jumlah yang dibebankan sebagai beban pajak final pada laporan laba rugi dan penghasilan komprehensif lain konsolidasian diakui sebagai pajak dibayar di muka atau utang pajak.
The difference between the final tax paid and the amount charged as final tax expense in the consolidated statement of profit or loss and other comprehensive income is recognized as prepaid tax or tax payable.
Pajak pertambahan nilai (PPN)
Value added tax (VAT)
Pendapatan, beban dan aset diakui setelah dikurangi dengan jumlah PPN, kecuali:
Revenues, expenses and assets are recognized net of the amount of VAT except:
•
•
Ketika PPN yang terjadi sehubungan dengan pembelian aset atau jasa tidak dapat diklaim kepada Kantor Pajak, dimana PPN diakui sebagai bagian dari biaya perolehan aset atau sebagai beban. Piutang dan utang yang dengan termasuk PPN.
•
Where the VAT incurred on a purchase of assets or services is not recoverable from the Tax Office, in which case the VAT is recognized as part of the cost of acquisition of the asset or as part of the expense item as applicable.
•
Receivables and payables that are stated with the amount of VAT included.
dinyatakan
26
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
117
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) p.
Instrumen keuangan 1.
118
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated) 2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) p.
Aset keuangan
Financial instruments 1. Financial assets
Pengakuan awal dan pengukuran
Initial recognition and measurement
Aset keuangan dalam lingkup PSAK No. 55 (Revisi 2014) diklasifikasikan sebagai aset keuangan yang diukur pada nilai wajar melalui laba rugi, pinjaman yang diberikan dan piutang, investasi dimiliki hingga jatuh tempo, atau aset keuangan tersedia untuk dijual, mana yang sesuai.
Financial assets within the scope of PSAK No. 55 (Revised 2014) are classified as financial assets at fair value through profit or loss, loans and receivables, held-tomaturity investments, or available-for-sale financial assets, as appropriate.
Kelompok Usaha menentukan klasifikasi aset keuangan pada saat pengakuan awal dan, jika diperbolehkan dan sesuai, akan dievaluasi kembali pengklasifikasian aset tersebut pada setiap akhir periode pelaporan.
The Group determines the classification of its financial assets at initial recognition and, where allowed and appropriate, reevaluates the designation of such assets at each end of reporting period.
Pada saat pengakuan awal, aset keuangan diukur pada nilai wajar dan, dalam hal investasi yang diukur bukan pada nilai wajar melalui laba rugi, nilai wajar tersebut ditambah dengan biaya transaksi yang dapat diatribusikan secara langsung.
At initial recognition, financial assets are recognized at fair value and, in the case of investments not at fair value through profit or loss, the fair value shall include directly attributable transaction costs.
Aset keuangan Kelompok Usaha mencakup kas dan setara kas, piutang usaha, piutang lain-lain, dan aset keuangan lancar lainnya.
The Group’s financial assets include cash and cash equivalents, trade receivables, other receivables, and other current financial assets.
Pengukuran setelah pengakuan awal
Subsequent measurement
Pinjaman yang diberikan dan piutang adalah aset keuangan non-derivatif dengan pembayaran tetap atau telah ditentukan, yang tidak mempunyai kuotasi di pasar aktif. Aset keuangan tersebut dicatat sebesar biaya perolehan diamortisasi dengan menggunakan metode suku bunga efektif. Keuntungan dan kerugian diakui dalam laba rugi pada saat pinjaman dan piutang dihentikan pengakuannya atau mengalami penurunan nilai, maupun pada saat proses amortisasi.
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Such financial assets are carried at amortized cost using the effective interest rate method. Gains and losses are recognized in profit or loss when the loans and receivables are derecognized or impaired, as well as through the amortization process.
Kas dan setara kas, piutang usaha, piutang lain-lain, dan aset keuangan lancar lainnya milik Kelompok Usaha diklasifikasi dalam kategori pinjaman yang diberikan dan piutang.
The Group’s cash and cash equivalents, trade receivables, other receivables, and other current financial assets are classified in the loans and receivables category.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
27
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) p.
Instrumen keuangan (lanjutan) 1.
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) p.
Aset keuangan (lanjutan)
Financial instruments (continued) 1.
Financial assets (continued)
Penghentian pengakuan
Derecognition
Aset keuangan (atau mana yang lebih tepat, bagian dari aset keuangan atau bagian dari kelompok aset keuangan sejenis) dihentikan pengakuannya pada saat: (1) hak kontraktual atas arus kas yang berasal dari aset keuangan tersebut telah berakhir; atau (2) Kelompok Usaha telah mentransfer hak kontraktual mereka untuk menerima arus kas yang berasal dari aset keuangan atau berkewajiban untuk membayar arus kas yang diterima secara penuh tanpa penundaan yang material kepada pihak ketiga dalam perjanjian “pass-through”; dan baik (a) Kelompok Usaha telah secara substansial mentransfer seluruh risiko dan manfaat dari aset, atau (b) Kelompok Usaha secara substansial tidak mentransfer atau tidak memiliki seluruh risiko dan manfaat suatu aset, namun telah mentransfer kendali atas aset tersebut.
A financial asset (or where applicable, a part of a financial asset or part of a group of similar financial assets) is derecognized when: (1) the rights to receive cash flows from the asset have expired; or (2) the Group has transferred rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a “pass-through” arrangement, and either (a) the Group has transferred substantially all the risks and rewards of the asset, or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.
Penurunan nilai
Impairment
Pada setiap akhir periode pelaporan Kelompok Usaha mengevaluasi apakah terdapat bukti yang obyektif bahwa aset keuangan atau kelompok aset keuangan mengalami penurunan nilai. Penurunan nilai atas aset keuangan atau kelompok aset keuangan dianggap telah terjadi, jika dan hanya jika, terdapat bukti yang objektif mengenai penurunan nilai sebagai akibat dari satu atau lebih peristiwa yang terjadi setelah pengakuan awal aset tersebut (“peristiwa yang merugikan”), dan peristiwa yang merugikan tersebut berdampak pada estimasi arus kas masa depan atas aset keuangan atau kelompok aset keuangan yang dapat diestimasi secara handal.
The Group assesses at the end of each reporting date whether there is any objective evidence that a financial asset or a group of financial assets is impaired. A financial asset or a group of financial assets is deemed to be impaired if, and only if, there is an objective evidence of impairment as a result of one or more events that have occurred after the initial recognition of the asset (incurred “loss events”) and those loss events have an impact on the estimated future cash flows of the financial asset or the group of financial assets that can be reliably estimated.
28
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
119
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) p.
Instrumen keuangan (lanjutan) 1.
120
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated) 2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) p.
Aset keuangan (lanjutan)
Financial instruments (continued) 1.
Financial assets (continued)
Penurunan nilai (lanjutan)
Impairment (continued)
Bukti penurunan nilai dapat meliputi indikasi pihak peminjam atau kelompok pihak peminjam mengalami kesulitan keuangan signifikan, wanprestasi atau tunggakan pembayaran bunga atau pokok, terdapat kemungkinan bahwa pihak peminjam akan dinyatakan pailit atau melakukan reorganisasi keuangan lainnya dan pada saat data yang dapat diobservasi mengindikasikan adanya penurunan yang dapat diukur atas estimasi arus kas masa datang, seperti meningkatnya tunggakan atau kondisi ekonomi yang berkorelasi dengan wanprestasi.
Evidence of impairment may include indications that the debtors or a group of debtors is experiencing significant financial difficulty, default or delinquency in interest or principal payments, the probability that they will enter bankruptcy or other financial reorganization, and when observable data indicate that there is a measurable decrease in the estimated future cash flows, such as changes in arrears or economic conditions that correlate with defaults.
Untuk pinjaman yang diberikan dan piutang yang dicatat pada biaya perolehan diamortisasi, Kelompok Usaha pertama kali menentukan apakah terdapat bukti obyektif mengenai penurunan nilai secara individual atas aset keuangan yang signifikan secara individual, atau secara kolektif untuk aset keuangan yang jumlahnya tidak signifikan secara individual. Jika Kelompok Usaha menentukan tidak terdapat bukti obyektif mengenai penurunan nilai atas aset keuangan yang dinilai secara individual, terlepas aset keuangan tersebut signifikan atau tidak, maka aset tersebut dimasukkan ke dalam kelompok aset keuangan yang memiliki karakteristik risiko kredit yang sejenis dan kelompok usaha menilai penurunan nilai kelompok tersebut secara kolektif.
For loans and receivables carried at amortized cost, the Group first assesses whether objective evidence of impairment exists individually for financial assets that are individually significant, or collectively for financial assets that are not individually significant. If the Group determines that no objective evidence of impairment exists for an individually assessed financial asset, whether significant or not, the asset is included in a group of financial assets with similar credit risk characteristics and the group is collectively assessed for impairment.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
29
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) p. Instrumen keuangan (lanjutan) 1.
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) p. Financial instruments (continued)
Aset keuangan (lanjutan)
1.
Financial assets (continued)
Penurunan nilai (lanjutan)
Impairment (continued)
Aset yang penurunan nilainya dinilai secara individual, dan untuk itu kerugian penurunan nilai diakui atau tetap diakui, tidak termasuk dalam penilaian penurunan nilai secara kolektif.
Assets that are individually assessed for impairment and for which an impairment loss is, or continues to be, recognized are not included in a collective assessment of impairment.
Jika terdapat bukti obyektif bahwa kerugian penurunan nilai telah terjadi, jumlah kerugian tersebut diukur sebagai selisih antara nilai tercatat aset dengan nilai kini estimasi arus kas masa datang (tidak termasuk ekspektasi kerugian kredit masa datang yang belum terjadi).
If there is objective evidence that an impairment loss has occurred, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of estimated future cash flows (excluding future expected credit losses that have not yet been incurred).
Nilai tercatat aset keuangan dikurangi melalui penggunaan akun cadangan dan jumlah kerugian diakui dalam laba rugi. Pendapatan bunga selanjutnya diakui sebesar nilai tercatat yang diturunkan nilainya berdasarkan tingkat suku bunga efektif awal dari aset keuangan. Pinjaman yang diberikan dan piutang, beserta dengan penyisihan terkait, dihapuskan jika tidak terdapat kemungkinan atas pemulihan di masa depan dan semua agunan telah terealisasi atau dialihkan kepada Kelompok Usaha. Jika, pada tahun berikutnya, nilai estimasi kerugian penurunan nilai aset keuangan bertambah atau berkurang karena suatu peristiwa yang terjadi setelah penurunan nilai tersebut diakui, maka kerugian penurunan nilai yang sebelumnya diakui ditambah atau dikurangi dengan menyesuaikan akun cadangan. Pemulihan tersebut tidak boleh mengakibatkan nilai tercatat aset keuangan melebihi biaya perolehan diamortisasi yang seharusnya jika penurunan nilai tidak diakui pada tanggal pemulihan dilakukan. Jumlah pemulihan aset keuangan diakui pada laba rugi.
The carrying amount of the financial asset is reduced through the use of an allowance account and the amount of the loss is recognized in profit or loss. Interest income continues to be accrued on the reduced carrying amount based on the original effective interest rate of the financial asset. Loans and receivables, together with the associated allowance, are written off when there is no realistic prospect of future recovery and all collateral has been realized or has been transferred to the Group. If, in a subsequent year, the amount of the estimated impairment loss increases or decreases because of an event occurring after the impairment was recognized, the previously recognized impairment loss is increased or reduced by adjusting the allowance account. The reversal shall not result in the carrying amount of the financial asset that exceeds what the amortized cost would have been had the impairment not been recognized at the date the impairment is reversed. The recovery is recognized in profit or loss.
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
121
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) p. Instrumen keuangan (lanjutan) 2.
122
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) p. Financial instruments (continued)
Liabilitas keuangan
2.
Financial liabilities
Pengakuan awal dan pengukuran
Initial recognition and measurement
Liabilitas keuangan dalam lingkup PSAK No. 55 (Revisi 2014) diklasifikasikan sebagai liabilitas keuangan yang diukur pada nilai wajar melalui laba rugi dan liabilitas keuangan yang diukur dengan biaya diamortisasi. Kelompok Usaha menentukan klasifikasi liabilitas keuangannya pada saat pengakuan awal. Pada tanggal laporan posisi keuangan konsolidasian, liabilitas keuangan Kelompok Usaha diklasifikasikan sebagai liabilitas keuangan yang diukur dengan biaya amortisasi.
Financial liabilities within the scope of PSAK No. 55 (Revised 2014) are classified as financial liabilities at fair value through profit or loss and financial liabilities at amortized cost. The Group determines the classification of its financial liabilities at initial recognition. As at the consolidated statement of financial position date, the Group’s financial liabilities are classified as financial liabilities at amortized cost.
Pada saat pengakuan awal, liabilitas keuangan diukur pada nilai wajar dan, dalam hal liabilitas keuangan yang diukur dengan biaya diamortisasi, termasuk biaya transaksi yang dapat diatribusikan secara langsung.
At initial recognition, financial liabilities are recognized at fair value and, in the case of financial liabilities at amortized attributable cost, include directly transaction costs.
Liabilitas keuangan Kelompok Usaha mencakup utang bank jangka pendek, utang usaha, utang lain-lain, beban akrual, dan pinjaman jangka panjang.
The Group’s financial liabilities include short-term bank loans, trade payables, other payables, accrued expenses, and long-term debts.
Setelah pengakuan awal, liabilitas keuangan yang diukur dengan biaya amortisasi yang dikenakan bunga selanjutnya diukur pada biaya perolehan diamortisasi dengan menggunakan metode suku bunga efektif.
After initial recognition, interest-bearing financial liabilities at amortized value are subsequently measured at amortized cost using the effective interest rate method.
Keuntungan dan kerugian diakui dalam laba rugi pada saat liabilitas tersebut dihentikan pengakuannya serta melalui proses amortisasi.
Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as through the amortization process.
Penghentian pengakuan
Derecognition
Liabilitas keuangan dihentikan pengakuannya pada saat liabilitas tersebut dihentikan atau dibatalkan atau kadaluwarsa.
A financial liability is derecognized when it is discharged or cancelled or has expired.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
31
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) p. Instrumen keuangan (lanjutan) 2.
3.
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) p.
Liabilitas keuangan (lanjutan)
Financial instruments (continued) 2.
Penghentian pengakuan (lanjutan)
Derecognition (continued)
Ketika liabilitas keuangan awal digantikan dengan liabilitas keuangan lain dari pemberi pinjaman yang sama dengan persyaratan yang berbeda secara substansial, atau modifikasi secara substansial atas persyaratan liabilitas keuangan yang saat ini ada, maka pertukaran atau modifikasi tersebut diperlakukan sebagai penghentian pengakuan liabilitas keuangan awal dan pengakuan liabilitas keuangan baru, dan selisih antara nilai tercatat masing-masing liabilitas keuangan diakui dalam laba rugi.
When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing financial liability are substantially modified, such an exchange or modification is treated as a derecognition of the original financial liability and the recognition of a new financial liability, and the difference in the respective carrying amounts is recognized in profit or loss.
Saling hapus dari instrumen keuangan
3.
Nilai wajar instrumen keuangan
4.
Nilai wajar instrumen keuangan yang diperdagangkan secara aktif di pasar keuangan yang terorganisasi ditentukan dengan mengacu pada kuotasi harga penawaran atau harga yang diminta pada penutupan bisnis pada akhir tahun pelaporan. Untuk instrumen keuangan yang tidak memiliki pasar aktif, nilai wajar ditentukan dengan menggunakan teknik penilaian. Teknik penilaian tersebut mencakup penggunaan transaksi-transaksi pasar yang wajar antara pihak-pihak yang mengerti dan berkeinginan (arm’s length market transactions), referensi atas nilai wajar terkini dari instrumen lain yang secara substansial sama, analisa arus kas yang didiskontokan, atau model penilaian lainnya.
32
Offsetting of financial instruments Financial assets and financial liabilities are offset and the net amount reported in the consolidated statement of financial position if, and only if, there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, or to realize the assets and settle the liabilities simultaneously.
Aset keuangan dan liabilitas keuangan saling hapus dan nilai netonya dilaporkan dalam laporan posisi keuangan konsolidasian jika, dan hanya jika, memiliki hak yang berkekuatan hukum untuk melakukan saling hapus atas jumlah yang telah diakui dan terdapat maksud untuk menyelesaikan secara neto, atau untuk merealisasikan aset dan menyelesaikan liabilitasnya secara bersamaan. 4.
Financial liabilities (continued)
Fair value of financial instruments The fair value of financial instruments that are actively traded in organized financial markets is determined by reference to quoted market bid or ask prices at the close of business at the end of the reporting year. For financial instruments where there is no active market, fair value is determined using valuation techniques. Such techniques may include using recent arm’s length market transaction, reference to the current fair value of another instrument that is substantially the same, discounted cash flow analysis, or other valuation models.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
123
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) p. Instrumen keuangan (lanjutan) 4.
Nilai wajar (lanjutan)
instrumen
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) p.
keuangan
Bila nilai wajar instrumen keuangan tidak diperdagangkan di pasar aktif dapat ditentukan secara handal, keuangan tersebut diakui dan diukur nilai tercatatnya. q.
2.
4.
q.
Laba per saham
r.
Earnings per share
Laba per saham dihitung dengan membagi laba tahun berjalan yang dapat diatribusikan kepada Pemilik Entitas Induk dengan rata-rata tertimbang jumlah saham yang beredar dan disetor penuh selama tahun yang bersangkutan.
Earnings per share amount is computed by dividing the income for the year attributable to Owners of the Parent Entity by the weighted average number of issued and fully paid shares during the year.
Pada tanggal 31 Desember 2016 dan 2015, Kelompok Usaha tidak mempunyai efek berpotensi saham biasa yang bersifat dilutive; oleh karena itu, jumlah laba per saham dilusian tidak dihitung dan disajikan pada laporan laba rugi dan penghasilan komprehensif lain konsolidasian.
As of December 31, 2016 and 2015, the Group has no outstanding potential dilutive ordinary shares; accordingly, no diluted earnings per share amounts are calculated and presented in the consolidated statement of proft or loss and other comprehensive income.
s. Pelaporan segmen
s.
Kelompok Usaha mengidentifikasikan segmen operasi berdasarkan pelaporan internal yang dikaji secara regular oleh pengambil keputusan operasional dalam mengalokasikan sumber daya dan menilai kinerja segmen operasi Kelompok Usaha.
124
Obligation under syariah transaction Murabahah For the buyer, the difference between the agreed purchase price of assets and the acquisition price of the assets by cash is recorded as “Margin on Syariah transactions” which is amortized proportionally with the murabahah loan portion.
Sebagai pembeli, selisih antara harga beli yang disepakati dengan biaya perolehan secara tunai diakui sebagai “Beban Murabahah Tangguhan” dan diamortisasi secara proporsional dengan porsi utang murabahah. r.
Fair value of financial instruments (continued) When the fair value of the financial instruments not traded in an active market cannot be reliably determined, such financial assets are recognized and measured at their carrying amount.
yang tidak aset pada
Utang transaksi syariah - Murabahah
Financial instruments (continued)
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33
Segment reporting The Group identifies its operating segments on the basis of internal reports that are regularly reviewed by the Group's chief operating decision maker in order to allocate resources to the segment and assess its performance.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 2.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN (lanjutan) s. Pelaporan segmen (lanjutan)
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) s.
The Group’s businesses are grouped into two major operating businesses: shipping and stevedoring.
Kegiatan Kelompok Usaha dikelompokkan menjadi dua kelompok usaha utama: jasa pelayaran dan jasa bongkar muat. t.
u. 9
Segment reporting (continued)
Provisi
t.
Provisions
Provisi diakui jika Kelompok Usaha memiliki kewajiban kini (baik bersifat hukum maupun bersifat konstruktif) sebagai akibat peristiwa masa lalu dimana ada kemungkinan besar bahwa untuk penyelesaian kewajiban tersebut diperlukan arus keluar sumber daya yang mengandung manfaat ekonomi dan jumlah kewajiban tersebut dapat diestimasi secara andal.
A provision is recognized when the Group has a present obligation (legal or constructive) where, as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.
Seluruh provisi ditelaah pada setiap tanggal pelaporan dan disesuaikan untuk mencerminkan estimasi terbaik saat ini. Jika arus keluar sumber daya untuk menyelesaikan kewajiban kemungkinan besar tidak terjadi, maka provisi tersebut dibatalkan.
All provisions are reviewed at each reporting year and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle the obligations, the provisions are reversed.
Kapitalisasi Biaya Pinjaman
u.
Capitalization of Borrowing Costs
Berdasarkan PSAK No. 26 (Revisi 2011), “Biaya Pinjaman”, biaya pinjaman yang dapat diatribusikan langsung dengan perolehan, konstruksi atau pembuatan aset kualifikasian dikapitalisasi sebagai bagian biaya perolehan aset tersebut. Biaya pinjaman lainnya diakui sebagai beban pada periode terjadinya. Biaya pinjaman dapat meliputi beban bunga, beban keuangan dalam sewa pembiayaan yang diakui sesuai dengan PSAK No. 30 (Revisi 2011) dan selisih kurs yang berasal dari pinjaman dalam mata uang asing sepanjang selisih kurs tersebut diperlakukan sebagai penyesuaian atas biaya bunga.
In accordance with PSAK No. 26 (Revised 2011), “Borrowing Costs”, borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalized as part of the cost of the related asset. Other borrowing costs are recognized as expenses in the period in which they are incurred. Borrowing costs may include interest, finance charges in respect of finance leases recognized in accordance with PSAK No. 30 (Revised 2011) and foreign exchange differences arising from foreign currency borrowings to the extent that they are regarded as adjustments to interest costs.
Kapitalisasi biaya pinjaman dimulai pada saat dimulainya aktivitas yang diperlukan untuk mempersiapkan aset kualifikasian agar dapat digunakan sesuai dengan maksudnya dan pengeluaran untuk aset dan biaya pinjamannya telah terjadi. Kapitalisasi biaya pinjaman dihentikan pada saat selesainya secara substansial seluruh aktivitas yang diperlukan untuk mempersiapkan aset kualifikasian agar dapat digunakan sesuai dengan maksudnya. Pada tahun 2016 tidak ada biaya pinjaman yang dikapitalisasi.
Capitalization of borrowing costs commences when the activities to prepare the qualifying asset for its intended use have started and the expenditures for the qualifying asset and the borrowing costs have been incurred. Capitalization of borrowing costs ceases when all the activities necessary to prepare the qualifying asset for its intended use are substantially completed. In 2016 no borrowing costs were capitalized.
34
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125
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 3.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
PENGGUNAAN PERTIMBANGAN, ESTIMASI DAN ASUMSI OLEH MANAJEMEN
3.
MANAGEMENT’S USE OF JUDGMENTS, ESTIMATES AND ASSUMPTIONS
Penyusunan laporan keuangan konsolidasian Kelompok Usaha mensyaratkan manajemen untuk membuat pertimbangan, estimasi dan asumsi yang mempengaruhi jumlah yang dilaporkan atas pendapatan, beban, aset dan liabilitas, serta pengungkapan liabilitas kontinjensi, pada akhir tahun pelaporan. Namun, ketidakpastian atas asumsi dan estimasi ini dapat menyebabkan hasil yang memerlukan penyesuaian material atas nilai tercatat aset dan liabilitas yang terdampak pada masa mendatang.
The preparation of the Group’s consolidated financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities, at the end of the reporting year. However, uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amounts of the assets or liabilities affected in future periods.
a. Pertimbangan
a. Judgments
Dalam proses penerapan kebijakan akuntansi Kelompok Usaha, manajemen telah membuat pertimbangan-pertimbangan berikut ini, yang terpisah dari estimasi dan asumsi, yang memiliki pengaruh paling signifikan terhadap jumlah yang dicatat dalam laporan keuangan konsolidasian: •
Penentuan Mata Uang Fungsional
In the process of applying the Group’s accounting policies, management has made the following judgments, apart from those including estimations and assumptions, which have the most significant effect on the amounts recognized in the consolidated financial statements: •
The functional currency of each of the entities under the Group is the currency of the primary economic environment in which each entity operates. It is the currency that mainly influences the revenue and cost of rendering services.
Mata uang fungsional dari masing-masing entitas dalam Kelompok Usaha adalah mata uang dari lingkungan ekonomi primer dimana entitas beroperasi. Mata uang tersebut adalah mata uang yang mempengaruhi pendapatan dan beban dari jasa yang diberikan. •
Sewa
•
Kelompok Usaha mempunyai perjanjianperjanjian sewa yang bervariasi sebagai lessee untuk beberapa aset tetap tertentu. Kelompok Usaha mengevaluasi apakah terdapat risiko dan manfaat yang signifikan dari aset pembiayaan yang dialihkan kepada Kelompok Usaha atau tetap ditahan oleh lessor berdasarkan PSAK No. 30 (Revisi 2011), “Sewa”, yang mensyaratkan Kelompok Usaha untuk membuat pertimbangan terhadap pengalihan risiko dan manfaat dari kepemilikan aset pembiayaan.
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35
Determination of Functional Currency
Leases The Group has various lease agreements as lessee in respect of certain fixed assets. The Group evaluates whether significant risks and rewards of ownership of the leased assets are transferred to the Group or retained by the lessors based on PSAK No. 30 (Revised 2011), “Leases”, which requires the Group to make judgments on the transfer of risks and rewards of ownership of the leased assets.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 3.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
PENGGUNAAN PERTIMBANGAN, ESTIMASI DAN ASUMSI OLEH MANAJEMEN (lanjutan) a. Pertimbangan (lanjutan) •
Pengelompokan Aset Liabilitas Keuangan
3.
MANAGEMENT’S USE OF JUDGMENTS, ESTIMATES AND ASSUMPTIONS (continued) a.
Keuangan
dan
Judgments (continued) •
The Group determines the classifications of certain assets and liabilities as financial assets and financial liabilities by judging if they meet the definition set forth in PSAK No. 55 (Revised 2014). Accordingly, the financial assets and financial liabilities are accounted for in accordance with the Group’s accounting policies disclosed in Note 2p.
Kelompok Usaha menetapkan pengelompokan aset dan liabilitas tertentu sebagai aset keuangan dan liabilitas keuangan dengan pertimbangan bila definisi yang ditetapkan dalam PSAK No. 55 (Revisi 2014) terpenuhi. Dengan demikian, aset keuangan dan liabilitas keuangan diakui sesuai dengan kebijakan akuntansi Kelompok Usaha seperti yang diungkapkan pada Catatan 2p. •
Penyisihan Penurunan Nilai Piutang Usaha Evaluasi Individual
Classification of Financial Assets and Financial Liabilities
•
Allowance for Impairment of Trade Receivables - Individual Assessments
Kelompok Usaha mengevaluasi pelanggan tertentu yang menurut informasi pelanggan tersebut tidak dapat memenuhi kewajiban keuangannya.
The Group evaluates specific accounts on which it has information that the customers are unable to meet their financial obligations.
Dalam kondisi ini, Kelompok Usaha mempertimbangkan, berdasarkan fakta dan situasi yang tersedia, termasuk namun tidak terbatas pada, jangka waktu hubungan dengan pelanggan dan status kredit pelanggan berdasarkan catatan kredit pihak ketiga dan faktor pasar yang telah diketahui, untuk mencatat provisi spesifik atas pelanggan terhadap jumlah terutang guna mengurangi jumlah piutang yang diharapkan dapat diterima oleh Kelompok Usaha.
In these cases, the Group uses judgment, based on available facts and circumstances, including but not limited to, the length of its relationship with the customers and the customers’ current credit status based on any available thirdparty credit reports and known market factors, to record specific provisions for customers against amounts due to reduce the Group’s receivable amounts that it expects to collect.
Pencadangan spesifik ini dievaluasi kembali dan disesuaikan jika tambahan informasi yang diterima mempengaruhi jumlah penyisihan untuk penurunan nilai piutang usaha. Penjelasan lebih lanjut diungkapkan dalam Catatan 2p.
These specific provisions are re-evaluated and adjusted as additional information received affects the amounts of the allowance for impairment of trade receivables. Further details are disclosed in Note 2p.
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 3.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
PENGGUNAAN PERTIMBANGAN, ESTIMASI DAN ASUMSI OLEH MANAJEMEN (lanjutan) b.
Estimasi dan asumsi
MANAGEMENT’S USE OF JUDGMENTS, ESTIMATES AND ASSUMPTIONS (continued) b. Estimates and assumptions
Asumsi utama terkait masa depan dan sumber utama estimasi ketidakpastian lain pada tanggal pelaporan yang memiliki risiko signifikan bagi penyesuaian yang material terhadap nilai tercatat aset dan liabilitas untuk tahun berikutnya diungkapkan di bawah ini.
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are disclosed below.
Kelompok Usaha mendasarkan asumsi dan estimasi pada parameter yang tersedia pada saat laporan keuangan konsolidasian disusun. Situasi saat ini dan asumsi mengenai perkembangan di masa depan dapat berubah akibat perubahan pasar atau situasi di luar kendali Kelompok Usaha. Perubahan tersebut tercermin dalam asumsi terkait pada saat terjadinya.
The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments may change due to market changes or circumstances arising beyond the control of the Group. Such changes are reflected in the assumptions when they occur.
•
•
Imbalan Kerja
•
Employee Benefits
Beban dari program pensiun dan nilai kini dari kewajiban pensiun ditentukan dengan menggunakan metode projected-unit-credit. Penilaian aktuaris termasuk membuat variasi asumsi yang terdiri dari, antara lain, tingkat diskonto, tingkat pengembalian dana pensiun yang diharapkan, tingkat kenaikan kompensasi dan tingkat kematian. Dikarenakan kompleksitas dari penilaian dan dasar asumsinya dan periode jangka panjang, kewajiban manfaat pasti sangat sensitif terhadap perubahan asumsi.
The pension cost and the present value of the pension obligation are determined using the projected-unit-credit method. Actuarial valuation includes making various assumptions which consist of, among other things, discount rates, expected rates of return on plan assets, rates of compensation increases and mortality rates. Due to the complexity of the valuation and its underlying assumptions and long-term nature, a defined benefit obligation is highly sensitive to changes in assumptions.
Sementara Kelompok Usaha berkeyakinan bahwa asumsi tersebut adalah wajar dan sesuai, perbedaan signifikan pada hasil aktual atau perubahan signifikan dalam asumsi yang ditetapkan Kelompok Usaha dapat mempengaruhi secara material estimasi liabilitas imbalan kerja dan beban imbalan kerja neto. Penjelasan lebih lanjut diungkapkan dalam Catatan 22.
While the Group believes that its assumptions are reasonable and appropriate, significant differences in the Group’s actual results or significant changes in the Group’s assumptions may materially affect its estimated employee benefits liability and net employee benefits expense. Further details are disclosed in Note 22.
Penyusutan Aset Tetap
•
Aset tetap disusutkan selama masa manfaat ekonomisnya. Dalam menyusutkan aset tetapnya, Kelompok Usaha menggunakan metode garis lurus dan metode saldo menurun-ganda.
128
3.
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Depreciation of Fixed Assets Fixed assets are depreciated over their estimated useful lives. In depreciating its fixed assets, the Group uses the straightline method and the double-declining method.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 3.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
PENGGUNAAN PERTIMBANGAN, ESTIMASI DAN ASUMSI OLEH MANAJEMEN (lanjutan) b.
Estimasi dan asumsi (lanjutan) •
3.
MANAGEMENT’S USE OF JUDGMENTS, ESTIMATES AND ASSUMPTIONS (continued) b. Estimates and assumptions (continued)
Penyusutan Aset Tetap (lanjutan)
•
Management estimates the useful lives of the fixed assets to be within 3 to 20 years. These are common life expectancies applied in the industry where the Group conducts its business. Changes in the expected level of usage and technological development could impact the economic useful lives and the residual values of these assets and, therefore, future depreciation charges could be revised. Further details are disclosed in Note 11.
Manajemen mengestimasi masa manfaat ekonomis aset tetap antara 3 tahun sampai dengan 20 tahun. Ini adalah masa manfaat yang secara umum diharapkan diterapkan dalam industri dimana Kelompok Usaha menjalankan bisnisnya. Perubahan tingkat pemakaian dan perkembangan teknologi dapat mempengaruhi masa manfaat ekonomis dan nilai sisa aset dan, karenanya, biaya penyusutan masa depan mungkin direvisi. Penjelasan lebih lanjut diungkapkan dalam Catatan 11. •
Pajak Penghasilan
•
Estimasi signifikan dilakukan dalam menentukan provisi atas pajak penghasilan badan. Terdapat transaksi dan perhitungan tertentu yang penentuan pajak akhirnya adalah tidak pasti sepanjang kegiatan usaha normal. Kelompok Usaha mengakui liabilitas atas pajak penghasilan badan berdasarkan estimasi apakah akan terdapat tambahan pajak penghasilan badan. •
Depreciation of Fixed Assets (continued)
Income Tax Significant estimation is involved in determining provision for corporate income tax. There are certain transactions and computation for which the ultimate tax determination is uncertain during the ordinary course of business. The Group recognizes liabilities for expected corporate income tax issues based on estimates of whether additional corporate income tax will be due.
• Allowance for Obsolescence of Inventories
Penyisihan Persediaan Usang Penyisihan persediaan usang, jika ada, diestimasi berdasarkan fakta dan situasi yang tersedia, termasuk namun tidak terbatas pada, kondisi fisik persediaan tersebut. Kelompok Usaha memiliki pengalaman dalam mengevaluasi persediaan dengan mempertimbangkan kegunaan dari persediaan tersebut. Kelompok Usaha, mengevaluasi dan menilai kondisi persediaan pada setiap tanggal pelaporan.
38
Allowance for obsolescence of inventories, if any, is estimated based on available facts and circumstances, including but not limited to, the inventories’ own physical condition. The Group has experience in evaluating its inventories by considering the usage of the inventories. The Group evaluates and assesses the inventories’ condition at each reporting date.
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 3.
PENGGUNAAN PERTIMBANGAN, ESTIMASI DAN ASUMSI OLEH MANAJEMEN (lanjutan) b.
Estimasi dan asumsi (lanjutan) •
•
130
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated) 3.
MANAGEMENT’S USE OF JUDGMENTS, ESTIMATES AND ASSUMPTIONS (continued) b. Estimates and assumptions (continued)
Estimasi Cadangan untuk Kerugian Penurunan Nilai atas Piutang Usaha
• Estimating Allowance for Impairment Loss on Trade Receivables
Bila Kelompok Usaha memutuskan bahwa tidak terdapat bukti objektif atas penurunan nilai pada evaluasi individual atas piutang usaha, baik yang nilainya signifikan atau tidak, Kelompok Usaha menyertakannya dalam kelompok piutang usaha dengan karakteristiknya risiko kredit yang serupa dan melakukan evaluasi kolektif atas penurunan nilai. Karakteristik yang dipilih mempengaruhi estimasi arus kas masa depan atas kelompok piutang usaha tersebut karena merupakan indikasi bagi kemampuan pelanggan untuk melunasi jumlah terutang.
If the Group determines that no objective evidence of impairment exists for an individually assessed trade receivable, whether significant or not, it includes the trade receivable in a group of financial assets with similar credit risk characteristics and collectively assesses them for impairment. The characteristics chosen are relevant to the estimation of future cash flow for groups of such trade receivables by being indicative of the customers’ ability to pay all amounts due.
Arus kas masa depan pada kelompok piutang usaha yang dievaluasi secara kolektif untuk penurunan nilai diestimasi berdasarkan pengalaman kerugian historis bagi piutang usaha dengan karakteristik risiko kredit yang serupa dengan piutang usaha pada kelompok tersebut.
Future cash flows in a group of trade receivables that are collectively evaluated for impairment are estimated on the basis of historical loss experience for the trade receivables with credit risk characteristics similar to those in the group.
Penyisihan atas Penurunan Nilai Aset Nonkeuangan
• Allowance for Impairment of Non-financial Asset
Penurunan nilai aset non-keuangan ada jika terdapat indikasi ketika nilai tercatat suatu aset atau unit penghasil kas melebihi nilai terpulihkannya, yang merupakan nilai tertinggi dari nilai wajar dikurangi biaya untuk menjual dan nilai pakai.
Impairment of non-financial asset exists if there is an indication that the carrying value of the asset or its cash-generating unit exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use.
Manajemen melakukan estimasi atas nilai terpulihkan aset dengan menghitung nilai wajar dikurangi biaya untuk menjual berdasarkan data yang tersedia dari transaksi penjualan yang mengikat dan bersifat arm’s length untuk aset yang sejenis atau harga pasar yang tersedia dikurangi tambahan biaya yang diperlukan untuk melepas aset tersebut.
Management estimates the asset’s recoverable amount from a calculation of its fair value less costs to sell based on available data from binding sales transactions in arm’s length transactions of similar assets or observable market price, less incremental costs for disposing of the asset.
Perhitungan nilai pakai didasarkan pada model arus kas yang didiskontokan. Pada model ini, nilai yang terpulihkan sangat sensitif terhadap tarif diskonto yang digunakan, termasuk juga arus kas masuk dimasa yang akan datang dan tarif pertumbuhan yang digunakan untuk tujuan ekstrapolasi.
The value in use calculation is based on the discounted cash flow model. The recoverable amount is most sensitive to the discount rate used for the expected future cash inflows and the growth rate used for extrapolation purposes.
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39
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 4.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
KAS DAN SETARA KAS
4.
CASH AND CASH EQUIVALENTS This account consists of:
Akun ini terdiri dari:
31 Desember/December 31, 2016 Kas Rupiah Dolar Amerika Serikat (US$4.228 pada tahun 2016 dan US$2.287 pada tahun 2015) Dolar Singapura (Sin$3.159 pada tahun 2016 dan Sin$4.509 pada tahun 2015) Yuan Tiongkok (CNY6.281 pada tahun 2016) Total kas Bank Rupiah PT Bank Mandiri (Persero) Tbk PT Bank Central Asia Tbk PT Bank Negara Indonesia (Persero) Tbk PT Bank Danamon Indonesia Tbk PT Bank Mega Tbk PT Bank Syariah Mandiri PT Bank Ganesha PT Bank CIMB Niaga Tbk PT Bank Bukopin Tbk PT Bank Tabungan Pensiunan Nasional Tbk PT Bank Maybank Indonesia Tbk Dolar Amerika Serikat PT Bank Mandiri (Persero) Tbk (US$24.336 pada tahun 2016 dan US$139.938 pada tahun 2015) PT Bank Danamon Indonesia Tbk (US$783 pada tahun 2016 dan US$903 pada tahun 2015) OCBC Limited Singapura (US$657 pada tahun 2016 dan US$750 pada tahun 2015) PT Bank Mega Tbk (US$657 pada tahun 2016 dan US$722 pada tahun 2015) Dolar Singapura PT Bank Mega Tbk (Sin$1.748 pada tahun 2016 dan Sin$1.816 pada tahun 2015) Yuan Tiongkok PT Bank Mega Tbk (CNY23.373 pada tahun 2016) Total bank
2015
1.587.392.609
1.073.544.084
56.802.705
31.551.083
29.377.454
43.969.364
12.165.018
-
Cash on hand Rupiah United States dollar (US$4,228 in 2016 and US$2,287 in 2015) Singapore dollar (Sin$3,159 in 2016 and Sin$4,509 in 2015) Chinese yuan (CNY6,281 in 2016)
1.685.737.786
1.149.064.531
Total cash on hand
16.191.718.676 2.301.458.271
7.178.551.245 3.038.862.390
320.032.466 288.198.135 72.277.861 61.954.398 -
410.326.691 287.798.312 72.473.542 1.458.220.944 492.075 281.988.896 21.509.317
-
10.131.710 6.303.984
326.975.808
1.930.437.366
10.525.359
12.461.960
8.822.593
10.350.685
7.727.447
9.961.043
16.257.209
17.706.544
45.270.965
-
Cash in banks Rupiah PT Bank Mandiri (Persero) Tbk PT Bank Central Asia Tbk PT Bank Negara Indonesia (Persero) Tbk PT Bank Danamon Indonesia Tbk PT Bank Mega Tbk PT Bank Syariah Mandiri PT Bank Ganesha PT Bank CIMB Niaga Tbk PT Bank Bukopin Tbk PT Bank Tabungan Pensiunan Nasional Tbk PT Bank Maybank Indonesia Tbk United States dollar PT Bank Mandiri (Persero) Tbk (US$24,336 in 2016 and US$139,938 in 2015) PT Bank Danamon Indonesia Tbk (US$783 in 2016 and US$903 in 2015) OCBC Limited Singapore (US$657 in 2016 and US$750 in 2015) PT Bank Mega Tbk (US$657 in 2016 and US$722 in 2015) Singapore dollar PT Bank Mega Tbk (Sin$1,748 in 2016 and Sin$1,816 in 2015) Chinese yuan PT Bank Mega Tbk (CNY23,373 in 2016)
19.651.219.188
14.747.576.704
Total cash in banks
40
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
131
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 4.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
KAS DAN SETARA KAS (lanjutan)
4.
CASH AND CASH EQUIVALENTS (continued)
31 Desember/December 31, 2016 Deposito berjangka - rupiah PT Bank Mandiri (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk PT Bank Rakyat Indonesia (Persero) Tbk PT Bank Tabungan Pensiunan Nasional Tbk PT Bank Bank Mega Tbk Total kas dan setara kas
5.
2015
8.100.000.000
5.950.000.000
2.000.000.000
-
1.530.689.258
-
-
1.567.993.523 1.015.703.398
Time deposits - rupiah PT Bank Mandiri (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk PT Bank Rakyat Indonesia (Persero) Tbk PT Bank Tabungan Pensiunan Nasional Tbk PT Bank Mega Tbk
32.967.646.232
24.430.338.156
Total cash and cash equivalents
Deposito berjangka dalam rupiah memperoleh bunga dengan tingkat suku bunga tahunan berkisar antara 3,9% sampai dengan 6,5% pada tahun 2016 dan 5% sampai dengan 7,75% pada tahun 2015.
The rupiah time deposits earned interest at annual rates ranging from 3.9% to 6.5% in 2016 and 5% to 7.75% in 2015.
Pada tanggal 31 Desember 2016 dan 2015, tidak terdapat kas dan setara kas Kelompok Usaha yang dibatasi penggunaannya atau ditempatkan pada pihak berelasi.
As of December 31, 2016 and 2015, none of the Group’s cash and cash equivalents are restricted in use or held by a related party.
Semua rekening bank dan deposito berjangka ditempatkan pada bank pihak ketiga.
All bank accounts and time deposits are placed in third-party banks.
PIUTANG USAHA
5.
TRADE RECEIVABLES Trade receivables consist of:
Piutang usaha terdiri dari:
31 Desember/December 31, 2016 Pihak berelasi (Catatan 35) PT Temas Suzue Indonesia
Related party (Note 35) PT Temas Suzue Indonesia
1.854.320.785
2.459.400.189
134.436.898.145
171.110.045.281
262.978.797
1.597.389.740
Third parties Rupiah United States dollar (US$19,573 in 2016 and US$115,795 in 2015)
Total pihak ketiga
134.699.876.942
172.707.435.021
Total third parties
Total piutang usaha
136.554.197.727
175.166.835.210
Total trade receivables
Pihak ketiga Rupiah Dolar Amerika Serikat (US$19.573 pada tahun 2016 dan US$115.795 pada tahun 2015)
132
2015
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
41
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 5.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
PIUTANG USAHA (lanjutan)
5.
TRADE RECEIVABLES (continued) The aging analysis of trade receivables is as follows:
Analisis umur piutang usaha adalah sebagai berikut:
31 Desember/December 31, 2016
6.
2015
Belum jatuh tempo Lewat jatuh tempo 1 sampai 30 hari 31 sampai 60 hari 61 sampai 90 hari Lebih dari 90 hari
106.541.813.540
143.551.392.545
23.556.357.818 2.730.271.014 1.156.375.071 2.569.380.284
25.079.214.547 3.272.343.498 1.049.658.978 2.214.225.642
Current Overdue 1 to 30 days 31 to 60 days 61 to 90 days More than 90 days
Total piutang usaha
136.554.197.727
175.166.835.210
Total trade receivables
Manajemen berpendapat tidak perlu dilakukan penyisihan penurunan nilai piutang usaha pada tanggal 31 Desember 2016 dan 2015 karena seluruh piutang usaha tersebut dapat tertagih sepenuhnya.
Management believes that there is no need to provide allowance for impairment of trade receivables as of December 31, 2016 and 2015 since all of the trade receivable can be fully collected.
Pada tanggal 31 Desember 2016 dan 2015, piutang usaha - pihak ketiga digunakan sebagai jaminan atas utang bank jangka pendek dan utang bank jangka panjang yang diperoleh dari PT Bank Mandiri (Persero) Tbk (Catatan 13 dan 19).
As of December 31, 2016 and 2015, trade receivables - third parties are pledged as collateral for short-term and long-term bank loans obtained from PT Bank Mandiri (Persero) Tbk (Notes 13 and 19).
PIUTANG LAIN-LAIN
6.
OTHER RECEIVABLES Other receivables consist of the following:
Piutang lain-lain terdiri dari:
31 Desember/December 31, 2016
2015
Piutang penjualan kapal Lain-lain
3.446.847.962
3.800.000.000 2.848.655.466
Receivable from sale of vessel Others
Total
3.446.847.962
6.648.655.466
Total
Piutang penjualan kapal merupakan piutang kepada pihak ketiga atas penjualan kapal milik Perusahaan KM Sendang pada tahun 2015. Pada tahun 2016, piutang tersebut telah dilunasi seluruhnya.
Receivable from sale of vessel consist of receivable from a third party in relation to the sale of the Company’s vessel MV Sendang in 2015. In 2016, the receivables has been settled.
Berdasarkan hasil telaah terhadap piutang lain-lain pada akhir periode pelaporan, manajemen berkeyakinan bahwa tidak diperlukan cadangan penurunan nilai pada tanggal 31 Desember 2016 dan 2015 karena manajemen berkeyakinan bahwa seluruh piutang lain-lain dapat tertagih seluruhnya.
Based on the review of other receivables at the end of the reporting period, management believes that no allowance for impairment needs to be provided as of December 31, 2016 and 2015, since management believes all other receivables can be collected in full.
42
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
133
2016 PERFORMANCE HIGHLIGHTS
INTRODUCTION
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 7.
8.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
ASET KEUANGAN LANCAR LAINNYA
7.
OTHER CURRENT FINANCIAL ASSETS
Akun ini merupakan saldo yang dibatasi penggunaannya yang ditempatkan pada PT Bank Mandiri (Persero) Tbk sehubungan dengan perjanjian kerjasama antara Kelompok Usaha dan PT Pelabuhan Indonesia (Persero) dalam rangka pembayaran pelayanan jasa pelabuhan melalui sistem cash on-line pada beberapa pelabuhan tertentu (Catatan 37a).
This account represents restricted cash which is placed in PT Bank Mandiri (Persero) Tbk in connection with the cooperation agreement between the Group and PT Pelabuhan Indonesia (Persero) for the payment of port service fees through a cash on-line system in certain ports (Note 37a).
Pada tanggal 31 Desember 2016 dan 2015, tidak terdapat saldo yang dibatasi penggunaannya ditempatkan pada pihak berelasi.
As of December 31, 2016 and 2015, none of the Group’s restricted cash accounts are held by a related party.
PERSEDIAAN
8.
INVENTORIES This account consists of:
Akun ini terdiri dari:
31 Desember/December 31, 2016
2015
Bahan bakar kapal Suku cadang
23.720.655.883 23.353.959.549
17.407.820.100 6.879.338.863
Bunker Spareparts
Total Cadangan keusangan/kerugian
47.074.615.432 -
24.287.158.963 (1.378.336.000)
Total Allowance for obsolescence/losses
Neto
47.074.615.432
22.908.822.963
Net
Mutasi cadangan sebagai berikut:
keusangan/kerugian
The movements of the allowance obsolescence/ losses are as follows:
adalah
for
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016 Saldo awal Cadangan selama tahun berjalan Pemulihan selama tahun berjalan
2015
1.378.336.000 (1.378.336.000)
Saldo akhir tahun
134
-
827.001.600 964.835.200 (413.500.800)
Beginning balance Provision during the year Reversal during the year
1.378.336.000
Balance at end of year
Berdasarkan hasil penelaahan terhadap nilai pasar dan kondisi fisik persediaan pada akhir tahun, manajemen berkeyakinan bahwa cadangan keusangan/kerugian tidak diperlukan dalam rangka menutup potensi kerugian dari keusangan dan penurunan nilai pasar persediaan pada tanggal 31 December 2016.
Based on a review of the market prices and physical conditions of the inventories at the end of the year, management believes that no allowance needs to be provided to cover possible losses from obsolescence and decline in market values of inventories as of December 31, 2016.
Berdasarkan hasil penelaahan terhadap kondisi masing-masing persediaan pada akhir tahun, manajemen Kelompok Usaha berkeyakinan bahwa cadangan keusangan/kerugian di atas adalah cukup untuk menurunkan nilai tercatat persediaan ke nilai realisasi netonya pada tanggal 31 Desember 2015.
Based on the review of the individual status of the inventories at the end of the year, the Group’s management believes that the above allowance for obsolescence/losses is sufficient to reduce the carrying amounts of inventories to their net realizable values as of December 31, 2015.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
43
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 8.
9.
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
PERSEDIAAN (lanjutan)
8.
INVENTORIES (continued)
Pada tanggal 31 Desember 2016, seluruh persediaan suku cadang yang dimiliki oleh Perusahaan diasuransikan terhadap semua risiko dengan nilai pertanggungan sebesar Rp9.010.068.529 melalui PT Asuransi Jasa Tania Tbk. Manajemen Kelompok Usaha berpendapat bahwa nilai pertanggungan asuransi adalah cukup untuk menutup kemungkinan kerugian atas risiko tersebut.
As of December 31, 2016, the spareparts inventories, which are owned by the Company is covered by insurance from all risks for a total coverage sum of Rp9,010,068,529 through PT Asuransi Jasa Tania Tbk. The Group’s management is of the opinion that the insurance coverage is adequate to cover possible losses arising from such risks.
Pada tanggal 31 Desember 2016 dan 2015, saldo persediaan digunakan sebagai jaminan atas utang bank jangka pendek dan utang bank jangka panjang yang diperoleh dari PT Bank Mandiri (Persero) Tbk (Catatan 13 dan 19).
As of December 31, 2016 and 2015, the inventories are pledged as collateral for short-term and long-term bank loans obtained from PT Bank Mandiri (Persero) Tbk (Notes 13 and 19).
BIAYA DIBAYAR DIMUKA
9.
PREPAID EXPENSES This account consists of:
Akun ini terdiri dari:
31 Desember/December 31, 2016
2015
Sewa Asuransi Lain-lain
2.524.317.634 1.734.377.951 541.659.238
1.523.747.024 2.811.025.342 -
Rent Insurance Others
Total
4.800.354.823
4.334.772.366
Total
10. ASET LANCAR LAIN-LAIN
10. OTHER CURRENT ASSETS This account consists of:
Akun ini terdiri dari:
31 Desember/December 31, 2016
2015
Uang muka operasional Lain-lain
13.357.024.911 1.141.413.012
8.719.950.767 311.539.809
Advance for operations Others
Total
14.498.437.923
9.031.490.576
Total
44
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
135
2016 PERFORMANCE HIGHLIGHTS
INTRODUCTION
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
11. ASET TETAP
11. FIXED ASSETS The details of fixed assets are as follows:
Rincian aset tetap adalah sebagai berikut:
Tahun yang berakhir pada tanggal 31 Desember 2016/ Year ended December 31, 2016 Selisih Kurs karena Penjabaran Laporan Keuangan/ Difference in Foreign Currency Translation
Saldo Awal/ Beginning Balance Biaya Perolehan Pemilikan langsung Tanah Bangunan dan prasarana Kapal Biaya pemugaran dan perbaikan kapal Peti kemas Peralatan kapal Kendaraan Alat berat Peralatan kantor Sub-total Sewa pembiayaan Peti kemas Aset dalam penyelesaian Uang muka pembelian aset tetap
Total Akumulasi Penyusutan dan Amortisasi Pemilikan langsung Bangunan dan prasarana Kapal Biaya pemugaran dan perbaikan kapal Peti kemas Peralatan kapal Kendaraan Alat berat Peralatan kantor Sub-total
Sewa pembiayaan Peti kemas Total Penurunan nilai aset Nilai buku neto
136
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
19.778.809.743 20.210.795.810 1.212.063.950.936
-
Penambahan/ Additions/
Pengurangan/ Deductions/
Saldo Akhir/ Ending Balance
Reklasifikasi/ Reclassifications
488.802.647.305
128.927.111.599
185.941.693.056
19.778.809.743 20.210.795.810 1.757.881.179.698
Cost Direct ownership Land Buildings and infrastructure Vessels
52.819.067.804 183.657.274.191 23.894.320.276 11.484.775.423 233.681.519.801 15.686.666.501
(1.572.126.856) -
2.819.045.014 2.225.697.210 13.772.572.764 1.153.839.635 89.504.733.674 990.303.252
8.048.674.400 5.358.216.456 -
9.318.392.876 -
47.589.438.418 178.952.628.089 37.666.893.040 12.638.615.058 332.504.646.351 16.676.969.753
Dry docking and replating Containers Vessel equipment Vehicles Heavy equipment Office equipment
1.773.277.180.485
(1.572.126.856)
599.268.838.854
142.334.002.455
195.260.085.932
2.423.899.975.960
Sub-total Finance leases Containers
264.385.748.074
-
91.187.548.583
50.552.964
-
355.522.743.693
-
-
440.946.848
-
407.605.792
848.552.640
Construction in progress
(195.667.691.724)
247.945.756.651
Advances for purchase of fixed assets
-
3.028.217.028.944
Total
195.677.691.724
2.233.340.620.283
7.785.589.361 374.167.088.566
247.935.756.651
(1.572.126.856)
-
938.833.090.936
142.384.555.419
761.542.235 89.901.438.657
68.964.998.025
-
8.547.131.596 395.103.529.198
Accumulated Depreciation and Amortization Direct ownership Buildings and infrastructure Vessels
16.197.502.985 177.620.325.702 17.833.115.458 9.026.235.182 98.518.436.914 10.473.041.745
(1.560.099.800) -
16.007.336.939 1.248.029.822 4.829.918.121 1.662.476.947 29.053.456.072 2.661.811.066
8.048.674.400 5.358.216.456 -
-
24.156.165.524 171.950.039.268 22.663.033.579 10.688.712.129 127.571.892.986 13.134.852.811
Dry docking and replating Containers Vessel equipment Vehicles Heavy equipment Office equipment
711.621.335.913
(1.560.099.800)
146.126.009.859
82.371.888.881
-
773.815.357.091
Sub-total
36.331.955.908
7.372.307
-
88.264.232.433
Finance leases Containers
182.457.965.767
82.379.261.188
-
862.079.589.524
Total
-
10.980.005.000
-
-
Impairment of asset
2.166.137.439.420
Net book value
51.939.648.832 763.560.984.745 10.980.005.000
(1.560.099.800) -
1.458.799.630.538
45
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
11. ASET TETAP (lanjutan)
11. FIXED ASSETS (continued) Tahun yang berakhir pada tanggal 31 Desember 2015/ Year ended December 31, 2015 Selisih Kurs karena Penjabaran Laporan Keuangan/ Difference in Foreign Currency Translation
Saldo Awal/ Beginning Balance Biaya Perolehan Pemilikan langsung Tanah Bangunan dan prasarana Kapal Biaya pemugaran dan perbaikan kapal Peti kemas Peralatan kapal Kendaraan Alat berat Peralatan kantor
Penambahan/ Additions/
Pengurangan/ Deductions/
Saldo Akhir/ Ending Balance
Reklasifikasi/ Reclassifications
19.778.809.743 15.986.977.410 1.243.931.450.936
-
4.224.100.900 -
282.500 31.867.500.000
-
19.778.809.743 20.210.795.810 1.212.063.950.936
Cost Direct ownership Land Buildings and infrastructure Vessels
22.824.033.629 141.586.202.762 19.398.416.776 11.158.725.423 223.035.755.925 12.002.331.053
1.453.167.265 -
37.952.267.949 903.686.000 4.495.903.500 738.150.000 9.498.213.876 2.222.349.712
7.957.233.774 6.017.034.536 412.100.000 10.750.000.000 10.514.000
45.731.252.700 11.897.550.000 1.472.499.736
52.819.067.804 183.657.274.191 23.894.320.276 11.484.775.423 233.681.519.801 15.686.666.501
Dry docking and replating Containers Vessel equipment Vehicles Heavy equipment Office equipment
1.709.702.703.657
1.453.167.265
60.034.671.937
57.014.664.810
59.101.302.436
1.773.277.180.485
Sub-total
Sewa pembiayaan Peti kemas Alat berat
248.114.198.420 11.897.550.000
9.195.978.500 -
101.040.061.673 -
48.233.237.819 -
(45.731.252.700) (11.897.550.000)
264.385.748.074 -
Finance leases Containers Heavy equipment
Sub-total
260.011.748.420
9.195.978.500
101.040.061.673
48.233.237.819
(57.628.802.700)
264.385.748.074
Sub-total
490.773.728
-
195.186.917.996
-
-
195.677.691.724
Advances for purchase of fixed assets
1.970.205.225.805
10.649.145.765
356.261.651.606
105.247.902.629
1.472.499.736
2.233.340.620.283
Total
Sub-total
Uang muka pembelian aset tetap
Total Akumulasi Penyusutan dan Amortisasi Pemilikan langsung Bangunan dan prasarana Kapal Biaya pemugaran dan perbaikan kapal Peti kemas Peralatan kapal Kendaraan Alat berat Peralatan kantor Sub-total
7.162.126.129 313.847.760.883
-
623.463.232 77.746.866.696
17.427.539.013
-
7.785.589.361 374.167.088.566
Accumulated Depreciation and Amortization Direct ownership Buildings and infrastructure Vessels
12.285.996.308 135.416.790.651 15.617.935.917 7.097.776.701 72.939.903.640 8.621.770.117
1.404.733.504 -
11.638.096.065 1.084.583.384 2.215.179.541 2.340.558.473 25.366.836.158 1.854.484.239
7.726.589.388 6.017.034.537 412.099.992 6.152.960.526 3.212.611
45.731.252.700 6.364.657.642 -
16.197.502.985 177.620.325.702 17.833.115.458 9.026.235.182 98.518.436.914 10.473.041.745
Dry docking and replating Containers Vessel equipment Vehicles Heavy equipment Office equipment
572.990.060.346
1.404.733.504
122.870.067.788
37.739.436.067
52.095.910.342
711.621.335.913
Sub-total
51.939.648.832 -
Finance leases Containers Heavy equipment
Sewa pembiayaan Peti kemas Alat berat
95.872.023.656 5.978.920.815
8.270.900.260 -
Sub-total
101.850.944.471
Total
674.841.004.817 -
Penurunan nilai aset Nilai buku neto
37.634.797.941 385.736.827
44.106.820.325 -
(45.731.252.700) (6.364.657.642)
8.270.900.260
38.020.534.768
44.106.820.325
(52.095.910.342)
9.675.633.764
160.890.602.556
81.846.256.392
-
-
10.980.005.000
-
-
1.295.364.220.988
51.939.648.832
Sub-total
763.560.984.745
Total
10.980.005.000
Impairment of asset
1.458.799.630.538
Net book value
Depreciation expense was allocated to the following:
Beban penyusutan dialokasikan sebagai berikut:
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016
2015
Beban jasa (Catatan 31) Beban usaha (Catatan 32)
177.371.835.519 5.086.130.248
156.072.096.605 4.818.505.951
Cost of services (Note 31) Operating expenses (Note 32)
Total
182.457.965.767
160.890.602.556
Total
46
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
137
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
11. ASET TETAP (lanjutan)
11. FIXED ASSETS (continued)
Rincian pelepasan aset tetap adalah sebagai berikut:
The details of disposal of fixed assets are as follows:
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016 Biaya perolehan Akumulasi penyusutan Pembalikan rugi penurunan nilai aset Total nilai tercatat Harga jual Penyelesaian utang (Catatan 15) Laba pelepasan aset tetap
138
2015
(142.384.555.419) 82.379.261.188 10.980.005.000
(49.284.614.055) 30.006.631.838 -
Cost Accumulated depreciation Reversal of impairment of asset
(49.025.289.231) 51.697.791.044 -
(19.277.982.217) 6.623.603.098 36.663.692.000
Total carrying amount Proceeds Loan settlement (Note 15)
2.672.501.813
24.009.312.881
Gain on disposal of fixed assets
Pengurangan aset tetap pada tahun 2016 terutama berasal dari penjualan kapal motor yang dimiliki oleh Perusahaan dengan nilai buku sebesar Rp48.982.108.575 dan penghapusan biaya pemugaran yang telah diamortisasi seluruhnya sebesar Rp8.048.674.399.
Deductions to fixed assets in 2016 mainly pertain to the sale of a mother vessel owned by the Company net book value amounting to Rp48,982,108,575 and deduction in dry docking and replating amounting to Rp8,048,674,399 represents full amortization of dry docking.
Pengurangan aset tetap pada tahun 2015 terutama berasal dari penjualan kapal motor yang dimiliki oleh Perusahaan, penghapusan kontainer yang telah disusutkan seluruhnya, dan pelepasan Harbour Mobile Crane yang rusak di Anak Perusahaan. Pengurangan juga termasuk penghapusan biaya pemugaran yang telah diamortisasi seluruhnya sebesar Rp230.644.386. Pada bulan Juni 2015, beberapa kontainer milik Perusahaan dan Anak Perusahaan yang sedang dalam status pengiriman jatuh ke laut dan tidak bisa diselamatkan. Oleh karena itu, perusahaan memutuskan untuk menghapus beberapa kontainer atas peristiwa tersebut.
Deductions to fixed assets in 2015 mainly represent the sale of a mother vessel owned by the Company, disposal of fully depreciated containers, and disposal of damaged Harbour Mobile Crane on a Subsidiary. Deduction in dry docking and replating amounting to Rp230,644,386 represents full amortization of dry docking. In June 2015, some containers owned by the Company and its Subsidiaries fell overboard while in transit for a delivery and could no longer be recovered. Thus, the Company decided to dispose of the containers in that accident.
Beban keuangan yang dikapitalisasi ke dalam uang muka pembelian aset tetap untuk tahun 2015 adalah sebesar Rp7.210.180.556.
Financing costs capitalized to advances of fixed assets in 2015 amounted to Rp7,210,180,556.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
47
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
11. ASET TETAP (lanjutan)
11. FIXED ASSETS (continued)
Pada tanggal 31 Desember 2016, tanah milik Perusahaan dengan status Hak Guna Bangunan (HGB) dengan luas area sebesar 76.617 meter persegi, berlokasi di Jakarta, Medan, Banjarmasin, Kalianak dan Pontianak. HGB tersebut akan berakhir pada berbagai tanggal antara tahun 2019 dan 2042 dan manajemen Perusahaan berkeyakinan bahwa HGB tersebut dapat diperpanjang pada saat berakhirnya hak tersebut. Sebagai tambahan, Perusahaan juga memiliki tanah seluas 20.000 meter persegi yang berlokasi di Timika dengan status pelepasan hak.
As of December 31, 2016, the land account represents parcels of land owned by the Company with certificates of usage rights covering a total area of 76,617 square meters, located in Jakarta, Medan, Banjarmasin, Kalianak and Pontianak. These certificates will expire on various dates between 2019 and 2042 and the Company’s management is of the opinion that the rights can be renewed once they expire. In addition, the Company also owns land with a total area of 20,000 square meters located in Timika with the status of a released right (“status pelepasan hak”).
Aset tetap digunakan sebagai jaminan atas utang bank jangka pendek dan utang bank jangka panjang, utang sewa pembiayaan, utang transaksi syariah, utang lembaga keuangan dan utang pembiayaan konsumen pada tanggal-tanggal 31 Desember 2016 dan 2015 (Catatan 13, 19, 20 dan 21). Pada tanggal 31 Desember 2016 dan 2015, nilai buku neto aset tetap yang dijadikan sebagai jaminan masing-masing sebesar Rp1,79 triliun dan Rp1,07 triliun.
Fixed assets are pledged as collateral for shortterm and long-term bank loans, finance lease liabilities, obligation under syariah transactions, loan payable to financial institution and consumer financing payables as of December 31, 2016 and 2015 (Notes 13, 19, 20 and 21). As of December 31, 2016 and 2015, the total net book value of fixed assets which are used as collaterals amounted to Rp1.79 trillion and Rp1.07 trillion, respectively.
Pada tanggal 31 Desember 2016, seluruh kapal Kelompok Usaha dengan nilai buku neto sebesar Rp1.362.777.650.500 diasuransikan terhadap risiko kerusakan lambung dan mesin kapal (Hull and Machinery) sebesar Rp1.057.000.000.000 serta Increased Value dengan nilai pertanggungan maksimal sebesar Rp453.000.000.000 melalui PT Asuransi Wahana Tata dan kapal-kapal dengan nilai buku neto sebesar Rp1.362.777.650.500 diasuransikan terhadap risiko perang dengan nilai pertanggungan sebesar US$5.000.000 per kapal melalui British Marine QBE Insurance (Europe) Ltd.
As of December 31, 2016, the Group’s vessels with net book value amounting to Rp1,362,777,650,500 are covered by insurance against damage of Hull and Machinery under blanket policies for Rp1,057,000,000,000 and Increased Value for a maximum of Rp453,000,000,000 through PT Asuransi Wahana Tata and vessels with net book value amounting to Rp1,362,777,650,500 are covered by insurance against risk from wars for US$5,000,000 per vessel through British Marine QBE Insurance (Europe) Ltd.
Seluruh kapal Kelompok Usaha dengan nilai buku neto sebesar Rp1.362.777.650.500 juga diasuransikan dengan perlindungan dan penggantian termasuk kerugian pihak ketiga sehubungan dengan pengoperasian kapal dengan ganti rugi maksimum sebesar US$50.000.000 per kapal.
The Group’s vessels with net book value amounting to Rp1,362,777,650,500 are also covered by P&I (Protection and Indemnity) insurance including third party losses connected with the vessels’ operations with maximum liability of US$50,000,000 per vessel.
48
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
139
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
11. ASET TETAP (lanjutan)
11. FIXED ASSETS (continued)
Pada tanggal 31 Desember 2016, seluruh bangunan, peti kemas, peralatan kapal, kendaraan, dan alat berat Kelompok Usaha dengan nilai buku neto sebesar Rp510.886.001.435 diasuransikan terhadap risiko kerugian, kebakaran dan risiko lainnya dengan nilai pertanggungan sebesar US$27.569.268, EUR371.250 dan Rp18.802.168.529 melalui PT Mandiri AXA General Insurance, PT Asuransi Wahana Tata, PT ACA Asuransi, PT Lippo General Insurance Tbk., PT Asuransi QBE Pool Indonesia, PT Asuransi Sinar Mas, pihak ketiga.
As of December 31, 2016, all of the Group’s buildings, containers, vessel equipment, vehicles, and heavy equipment with net book value amounting to Rp510,886,001,435 are covered by insurance from accident, fire and other risks under total blanket policies for US$27,569,268, EUR371,250 and Rp18,802,168,529 through PT Mandiri AXA General Insurance, PT Asuransi Wahana Tata, PT ACA Asuransi, PT Lippo General Insurance Tbk., PT Asuransi QBE Pool Indonesia, PT Asuransi Sinar Mas, third parties.
Manajemen Kelompok Usaha berpendapat bahwa nilai pertanggungan asuransi di atas cukup untuk menutup kemungkinan kerugian atas risiko tersebut.
The Group’s management is of the opinion that these insurance coverages are adequate to cover possible losses arising from such risks.
Pada tanggal 31 Desember 2015, Perusahaan mengakui rugi penurunan nilai kapal tertentu sebesar Rp10.980.005.000.
As of December 31, 2015, th Company recognized impairment in value of a vessel amounting to Rp10,980,005,000.
Jumlah terpulihkan untuk kapal tersebut ditentukan berdasarkan nilai wajar setelah dikurangi biaya untuk menjual kapal tersebut.
The recoverable amount at the vessel is determined based on fair value less cost to sell of the vessel.
Nilai wajar dari kapal tersebut sebesar Rp9.330.893.147, ditentukan berdasarkan penilaian yang dilakukan oleh penilai independen KJPP Iwan Bachron & Rekan dalam laporannya tertanggal 28 Desember 2015.
The fair value of the vessel amounting to Rp9,330,893,147 was determined by independent appraisers KJPP Iwan Bachron & Rekan in its report dated December 28, 2015.
Penilaian kapal tersebut menggunakan Pendekatan Pasar (Market Approach), yaitu dengan cara membandingkan beberapa data jual beli dari aset yang dinilai, dengan mengadakan penyesuaian perbedaan-perbedaan yang ada antara yang dinilai dengan data jual beli yang ada.
The vessel is appraised based on Market Approach, comparing some sale and purchase data of the asset assessed, and making adjustment on diffrences between the asset being measured and the available sale and purchase data.
12. ASET TIDAK LANCAR LAINNYA Aset tidak lancar lainnya terdiri dari:
12. OTHER NON-CURRENT ASSETS Other non-current assets consist of the following:
31 Desember/December 31, 2016
2015
Sewa dibayar dimuka jangka panjang Beban tangguhan Lain - lain
16.566.526.915 6.604.863.497 128.488.220
17.264.521.533 7.809.809.559 2.409.000
Prepaid rent - long term portion Deferred charges Others
Total
23.299.878.632
25.076.740.092
Total
Pada tanggal 4 April 2013, Perusahaan melakukan perjanjian kerjasama pemanfaatan tanah dan bangunan milik TNI-AL dengan PT. Senopati Samudra Perkasa untuk menyewa sebidang lahan seluas 20.065 m2 dengan jangka waktu sewa selama 26 tahun. Bagian lancar dari sewa dibayar dimuka ini dicatat dan disajikan di dalam akun ”Biaya dibayar dimuka” (Catatan 9). 140
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
49
On April 4, 2013, the Company entered into a cooperation agreement covering the utilization of land and buildings of TNI-AL with PT. Senopati Samudra Perkasa to rent the land with an area of 20,065 m2 for 26 years. The current portion of this prepaid rent is recorded as part of "Prepaid expenses" (Note 9).
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
13. UTANG BANK JANGKA PENDEK
13. SHORT-TERM BANK LOANS Short-term bank loans consist of the following:
Utang bank jangka pendek terdiri dari:
31 Desember/December 31, 2016
2015
Rupiah PT Bank Mandiri (Persero) Tbk
156.500.000.000
85.800.000.000
Rupiah PT Bank Mandiri (Persero) Tbk
Total
156.500.000.000
85.800.000.000
Total
PT Bank Mandiri (Persero) Tbk
PT Bank Mandiri (Persero) Tbk
Pada tanggal 11 Agustus 2006, Perusahaan memperoleh fasilitas kredit modal kerja berulang dari PT Bank Mandiri (Persero) Tbk (“Bank Mandiri”), dengan pagu pinjaman terakhir sebesar Rp60.000.000.000.
On August 11, 2006, the Company obtained a revolving working capital loan facility from PT Bank Mandiri (Persero) Tbk (“Bank Mandiri”), with the latest maximum credit amounting to Rp60,000,000,000.
Fasilitas pinjaman ini pada awalnya berlaku selama satu (1) tahun dan telah diperpanjang beberapa kali. Pada tanggal 3 Agustus 2016, Perusahaan dan Bank Mandiri menyepakati dan menyetujui addendum atas perjanjian di atas terkait kenaikan pagu pinjaman dari Rp60.000.000.000 menjadi Rp110.000.000.000 dan memperpanjang jangka waktu fasilitas sampai dengan tanggal 10 Agustus 2017.
This loan facility was initially valid for one (1) year and has been extended several times. On August 3, 2016, the Company and Bank Mandiri entered into the addendum to the above agreement regarding the increase in the maximum credit limit from Rp60,000,000,000 to Rp110,000,000,000 and extended the availability of the facility until August 10, 2016.
Pada tanggal 27 Agustus 2014, Perusahaan memperoleh fasilitas kredit modal kerja dengan Bank Mandiri dengan limit kredit sebesar Rp50.000.000.000. Fasilitas pinjaman ini berlaku selama satu (1) tahun terhitung sejak ditandatanganinya sampai 10 Agustus 2015 dan dapat diperpanjang atas persetujuan bank. Pada tanggal 3 Agustus 2016, fasilitas tersebut diperpanjang hingga 10 Agustus 2017.
On August 27, 2014, the Company obtained a working capital loan facility with Bank Mandiri with credit limit of Rp50,000,000,000. This loan facility is valid for one (1) year since the signing date until August 10, 2015 and may be extended with the consent of the bank. On August 3, 2016 the facility was extended until August 10, 2017.
Pinjaman dari fasilitas di atas dikenakan bunga dengan tingkat bunga tahunan berkisar antara 10,50% sampai dengan 11,25% pada tahun 2016 dan antara 11,5% sampai dengan 11,75% pada tahun 2015.
The loan from the above facility bears interest at annual rates ranging from 10.50% to 11.25% in 2015 and from 11.5% to 11.75% in 2015.
Pinjaman tersebut dijamin dengan piutang usaha pihak ketiga (Catatan 5), persediaan (Catatan 8), jaminan pribadi Harto Khusumo dan tanah, bangunan dan kapal milik Perusahaan (Catatan 11). Seluruh jaminan ini digunakan sebagai joint collaterals dengan pinjaman bank jangka panjang yang diperoleh Perusahaan dari Bank Mandiri (Catatan 19).
The loan is collateralized by trade receivables third parties (Note 5), inventories (Note 8), personal guarantee from Harto Khusumo and the Company’s land, buildings and vessels (Note 11). All these collaterals are used as joint collaterals with the long-term bank loans obtained by the Company from Bank Mandiri (Note 19).
50
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
141
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
13. UTANG BANK JANGKA PENDEK (lanjutan)
13. SHORT-TERM BANK LOANS (continued)
PT Bank Mandiri (Persero) Tbk (lanjutan)
PT Bank Mandiri (Persero) Tbk (continued)
Berdasarkan ketentuan dalam perjanjian pinjaman dengan Bank Mandiri, Perusahaan diharuskan untuk menjaga rasio utang terhadap ekuitas tidak lebih dari 375% serta debt service coverage minimal satu (1) kali pada tahun 2016. Pada tanggal 31 Desember 2016 dan 2015, Perusahaan telah memenuhi persyaratan keuangan tersebut.
Under the terms of the loan agreement with Bank Mandiri, the Company is required to maintain total debt-to-equity ratio of not more than 375% with total debt service coverage at a minimum of one (1) time in 2016. As of December 31, 2016 and 2015, the Company has complied with these financial covenants.
Berdasarkan perjanjian, persyaratan tertentu tidak memperbolehkan untuk, antara lain, melakukan perubahan pada anggaran dasar kecuali perubahan pada direksi Perusahaan, memindahtangankan atau menjaminkan kembali aset yang dijaminkan, melakukan transaksi derivatif, pengumuman dan pembagian dividen kas, melakukan investasi baru dan berpartisipasi dalam kepemilikan entitas baru tanpa sepengetahuan Bank Mandiri.
Based on the agreement, the restrictive covenants prohibit, among others, changes in the articles of association except changes in the Company’s board of directors, transfer or pledge of the collateral assets, entering into derivative transactions, declaration and payment of cash dividend, new investment and participation in the ownership of a new company without the consent of Bank Mandiri.
14. UTANG USAHA
14. TRADE PAYABLES
Rincian utang usaha berdasarkan umur utang adalah sebagai berikut:
The details of trade payables based on aging of the payables are as follows:
31 Desember/December 31, 2016 Pihak ketiga Belum jatuh tempo Telah jatuh tempo Sampai dengan 30 hari 31 hari sampai 60 hari 61 hari sampai 90 hari Lebih dari 90 hari Sub-total
39.666.669.732
42.455.484.420
26.287.916.839 10.008.858.890 8.641.767.545 22.101.577.603
22.651.496.790 4.216.148.523 3.855.099.526 19.351.760.829
Third parties Current Overdue Up to 30 days 31 to 60 days 61 to 90 days More than 90 days
106.706.790.609
92.529.990.088
Sub-total
Pihak-pihak berelasi Belum jatuh tempo Telah jatuh tempo Sampai dengan 30 hari 31 hari sampai 60 hari 61 hari sampai 90 hari Lebih dari 90 hari
30.195.000
-
1.384.240.000 86.265.727
2.775.754
Related parties Current Overdue Up to 30 days 31 to 60 days 61 to 90 days More than 90 days
Sub-total
1.500.700.727
2.775.754
Sub-total
108.207.491.336
92.532.765.842
Total
Total
142
2015
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
51
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
14. UTANG USAHA (lanjutan)
14. TRADE PAYABLES (continued)
Rincian utang usaha berdasarkan mata uang adalah sebagai berikut:
The details of trade payables based on currency denominations are as follows:
31 Desember/December 31, 2016 Rupiah Pihak ketiga Pihak-pihak berelasi (Catatan 35) Mata uang asing Pihak ketiga Dolar Amerika Serikat Euro Eropa Dolar Singapura Yen Jepang Yuan Tiongkok Poundsterling Inggris Kroner Denmark Dolar Hongkong Kroner Swedia Ringgit Malaysia Total
2015
71.204.236.660 1.500.700.727
83.251.348.949 2.775.754
30.214.069.028 3.171.070.987 1.163.465.713 728.027.442 168.330.934 41.268.775 7.773.624 6.884.836 1.662.610 -
2.452.891.847 7.519.768 6.816.374.346 1.855.178
Rupiah Third parties Related parties (Note 35) Foreign currencies Third parties United States dollar European euro Singapore dollar Japan yen Chinese yuan England pounds Denmark krone Hongkong dollar Sweden krone Malaysian ringgit
108.207.491.336
92.532.765.842
Total
Tidak ada jaminan yang diberikan Kelompok Usaha atas utang usaha tersebut. 15. UTANG LAIN-LAIN
All of the Group’s trade payables are unsecured.
15. OTHER PAYABLES This account consists of:
Akun ini terdiri dari:
31 Desember/December 31, 2016
2015
Pihak ketiga Lain-lain
161.574.813
535.819.094
Third parties Others
Total utang lain-lain
161.574.813
535.819.094
Total other payables
52
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
143
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
16. BEBAN AKRUAL
16. ACCRUED EXPENSES This account consists of accruals for the following expenses:
Akun ini terdiri atas beban akrual sebagai berikut:
31 Desember/December 31, 2016 Bunga Jasa profesional Asuransi Telepon, listrik dan air Lain-lain Total
2015
3.103.629.033 2.113.815.576 1.082.418 4.986.347.572
1.480.659.446 1.502.727.950 1.082.418 24.586.875 7.261.648.861
Interest Professional fees Insurance Telephone, electricity and water Others
10.204.874.599
10.270.705.550
Total
17. TRANSAKSI DERIVATIF
144
17. DERIVATIVE TRANSACTIONS
Liabilitas Derivatif yang Dihentikan
Unwound Derivative Liability
Pada tanggal 24 Juli 2008, Perusahaan menandatangani kontrak WTI crude oil - Target Redemption Swap dengan Standard Chartered Bank (SCB) sehubungan dengan penawaran kepada Perusahaan atas perlindungan sebagian dari kenaikan harga WTI crude oil. Berdasarkan perjanjian, jumlah kuantitas nosional sebesar 30.000 barel dan jumlah kuantitas geared nosional sebesar 60.000 barel dengan harga tetap US$105 per barel.
On July 24, 2008, the Company signed a contract for WTI crude oil - Target Redemption Swap with Standard Chartered Bank (SCB) regarding the offering to the Company of partial protection against rising WTI crude oil prices. Based on the agreement, total notional quantity was about 30,000 barrels and total geared notional quantity was about 60,000 barrels with a fixed price of US$105 per barrel.
Berdasarkan skenario dari setiap penyelesaian (a) jika Floating Price (FP) di atas US$105 per barel, Perusahaan akan menerima dolar Amerika Serikat berdasarkan perhitungan <(FP dikurangi US$105) x 2.500 barel>, (b) jika FP di bawah US$105 per barel, Perusahaan akan membayar dolar Amerika Serikat berdasarkan perhitungan <(US$105 dikurangi FP) x 5.000 barel>. Perjanjian ini berlaku sampai dengan tanggal 31 Juli 2009, namun, jika seluruh pembayaran yang dilakukan oleh SCB kepada Perusahaan melebihi target akumulasi intrinsic value sebesar US$87.500, perjanjian ini akan berakhir dan Perusahaan akan kehilangan perlindungan ini.
Based on the scenario on each settlement date, (a) if Floating Price (FP) was above US$105 per barrel, the Company would receive United States dollar based on calculation <(FP minus US$105) x 2,500 barrels>, (b) if FP was below US$105 per barrel, the Company would pay United States dollar based on calculation <(US$105 minus FP) x 5,000 barrels>. This agreement was valid until July 31, 2009. However, if the accumulated payments made by SCB to the Company reaches more than the target accumulated intrinsic value of US$87,500, this agreement would be terminated and the Company would lose the protection.
Berdasarkan transaksi terakhir tertanggal 5 November 2008, harga aktual WTI crude oil sebesar US$76,72 per barel, oleh karena itu, Perusahaan berkewajiban untuk membayar SCB sebesar US$141.380. Sampai dengan tanggal jatuh tempo pembayaran, Perusahaan belum membayar jumlah tersebut. Sebagai akibatnya, SCB melakukan penghentian lebih awal dan mengusulkan tawaran penyelesaian sebesar US$2.771.366.
Based on the latest transaction dated November 5, 2008, the actual WTI crude oil price amounted to US$76.72 per barrel, therefore, the Company was liable to pay SCB the amount of US$141,380. Until the due date of this amount, the Company has not made any payment. Consequently, SCB made early termination and proposed a settlement offer worth US$2,771,366.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
53
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
17. TRANSAKSI DERIVATIF (lanjutan)
17. DERIVATIVE TRANSACTIONS (continued)
Liabilitas Derivatif yang Dihentikan (lanjutan)
Unwound Derivative Liability (continued)
Pada tanggal 28 Januari 2011, SCB mengajukan gugatan wanprestasi kepada Perusahaan terkait dengan jumlah klaim Pengakhiran Lebih Awal sebesar US$2.771.366 ditambah dengan ganti rugi berupa bunga atas Jumlah Pengakhiran Lebih Awal hingga tanggal pengajuan gugatan sebesar US$63.725 dan bunga sejak tanggal gugatan sampai dengan tanggal pelunasan.
On January 28, 2011, SCB filed a breach of contract lawsuit against the Company for the payment of its total claim for Early Termination Amount of US$2,771,366 plus compensation for interest of Early Termination Amount until the claim date amounting to US$63,725 and interest from the claim date until it is fully paid.
Berdasarkan putusan Pengadilan Negeri Jakarta Utara dengan No. 41/PDT/G/2011/PN/JKT.UT tanggal 9 November 2011, Perusahaan berkewajiban untuk membayar seluruh Jumlah Pengakhiran Lebih Awal berikut dengan bunga yang terutang sampai dengan saat pelunasan jumlah terutang.
Based on decision No.41/PDT/G/2011/PN/ JKT.UT dated November 9, 2011 of the District Court of North Jakarta, the Company is required to pay the Early Termination Amount including the interest payable until all the principal has been fully paid.
Perusahaan mengajukan Banding atas hasil putusan Pengadilan Negeri ke Pengadilan Tinggi Jakarta. Berdasarkan putusan Pengadilan Tinggi Jakarta dengan No. 444/PDT/2012/PT.DKI tanggal 14 Januari 2013, Pengadilan Tinggi Jakarta membatalkan keputusan Pengadilan Negeri Jakarta Utara No. 41/PDT/G/2011/PN/JKT.UT dan menyatakan untuk menolak gugatan SCB seluruhnya.
The Company appealed the District Court’s decision to the High Court of Jakarta. Based on its decision No. 444/PDT/2012/PT.DKI dated January 14, 2013, the Jakarta High Court overturned the decision No. 41/PDT/G/2011/PN/JKT.UT of the District Court of North Jakarta and rejected the SCB lawsuit entirely.
Atas keputusan Pengadilan Tinggi Jakarta tersebut, SCB telah mengajukan kasasi ke Mahkamah Agung, dimana berdasarkan putusan Mahkamah Agung No. 2532 K/PDT/2013 tanggal 2 April 2014, Mahkamah Agung menolak permohonan kasasi dari SCB.
Upon the decision of the Jakarta High Court, SCB filed an appeal to the Supreme Court, and based on its decision No. 2532 K/PDT/2013 dated April 2, 2014, the Supreme Court rejected the appeal of SCB.
Pada tanggal 14 Januari 2015, Mahkamah Agung memberitahukan kepada Perusahaan, dimana Mahkamah Agung telah menolak permohonan kasasi dari SCB, sehingga Perusahaan tidak lagi mencatat estimasi kewajiban ke SCB.
On January 14, 2015, Supreme Court notified the Company that the appeal made by SCB has been rejected. As such, the Company no longer records the estimated obligations to SCB.
Keuntungan atas penghapusbukuan liabilitas derivatif sebesar Rp39,3 miliar dicatat sebagai bagian dari akun ‘’Pendapatan Operasi Lain’’ pada laporan laba rugi dan penghasilan komprehensif lain konsolidasian tahun 2015.
Gain on write-off on unwound derivative liability amounting to Rp39.3 billion was recorded as part of “Other Operating Income” in 2015 consolidated statement of profit or loss and other comprehensive income.
54
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
145
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
18. PERPAJAKAN a.
18. TAXATION a.
Taksiran tagihan pajak
Estimated claim for tax refund
31 Desember/December 31, 2016
b.
2015
Entitas Anak PT Bongkar Muat Olah Jasa Trisari Andal PT Escorindo Stevedoring
-
1.127.264.238 742.439.795
Subsidiaries PT Bongkar Muat Olah Jasa Trisari Andal PT Escorindo Stevedoring
Total
-
1.869.704.033
Total
b.
Rincian beban pajak final adalah sebagai berikut:
The details of final tax expense are as follows:
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016
c.
2015
Final Perusahaan Entitas Anak
14.077.688.487 235.560.000
12.991.502.705 172.800.000
Final Company Subsidiaries
Total
14.313.248.487
13.164.302.705
Total
c.
Rincian manfaat pajak penghasilan adalah sebagai berikut:
The details of income tax benefit are as follows:
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016 Kini Entitas Anak
21.439.296.250
11.035.426.500
Current Subsidiaries
Tangguhan Perusahaan Entitas Anak
(35.517.311.878) 340.254.501
(24.634.170.134) 900.926.542
Deferred Company Subsidiaries
(35.177.057.377)
(23.733.243.592)
(13.737.761.127)
(12.697.817.092)
Total
146
2015
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
55
Total
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
18. PERPAJAKAN (lanjutan) d.
18. TAXATION (continued) d.
Pajak dibayar dimuka
Prepaid taxes
31 Desember/December 31, 2016 Perusahaan Pajak pertambahan nilai Pajak Penghasilan pasal 23 Entitas Anak Pajak pertambahan nilai Pajak Penghasilan pasal 21
e.
2015
34.439.405.694 -
10.282.745.920 529.813.691
971.590.057 24.769.862
16.905.116.427 -
35.435.765.613
27.717.676.038
e.
Utang pajak
The Company Value added tax Income tax - article 23 Subsidiaries Value added tax Income tax - article 21
Taxes payable
31 Desember/December 31, 2016 Perusahaan Pajak penghasilan Pasal 15 Pasal 21 Pasal 23 Pasal 26 Pasal 4 (2)
2015
969.947.985 326.793.325 1.142.321.034 73.865.420 147.674.000
1.140.999.116 437.479.750 1.956.639.492 143.416.455 -
Entitas Anak Pajak penghasilan Pasal 15 Pasal 21 Pasal 23 Pasal 25 Pasal 4 (2) Pasal 29
47.220.000 60.948.029 690.051.828 479.727.255 8.465.200 3.736.954.407
14.578.904 102.921.031 550.227.894 797.871.737 2.420.000 -
Total utang pajak
7.683.968.483
5.146.554.379
56
The Company Income taxes Article 15 Article 21 Article 23 Article 26 Article 4 (2) Subsidiaries Income taxes Article 15 Article 21 Article 23 Article 25 Article 4 (2) Article 29 Total taxes payable
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
147
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
18. PERPAJAKAN (lanjutan) f.
18. TAXATION (continued) f.
Pajak penghasilan kini
Current income tax The reconciliation between income before final tax and income tax expense, as shown in the consolidated statement of profit or loss and other comprehensive income, and estimated tax loss of the Company is as follows:
Rekonsiliasi antara laba sebelum pajak final dan beban pajak penghasilan menurut laporan laba rugi dan penghasilan komprehensif lain konsolidasian dengan taksiran rugi fiskal Perusahaan adalah sebagai berikut:
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016 Laba sebelum pajak final dan beban pajak penghasilan menurut laporan laba rugi dan penghasilan komprehensif lain konsolidasian Laba entitas anak sebelum pajak penghasilan Pembalikan atas jurnal eliminasi antar perusahaan pada saat konsolidasi Laba Perusahaan sebelum pajak penghasilan Beda tetap Pendapatan dan beban yang telah dikenakan pajak final Pendapatan jasa Beban jasa Beban usaha Beban keuangan - neto
232.096.636.048
317.640.620.854
(69.627.790.480)
(85.923.021.964)
(10.547.025.395)
26.287.834.064
Income before final tax and income tax expense per consolidated statement of profit or loss and other comprehensive income Income of subsidiaries before income tax Reversal of inter-company eliminating entries during consolidation
151.921.820.173
258.005.432.954
Income before income tax attributable to the Company
(1.157.715.970.137) (1.072.360.860.255) 601.779.612.506 590.323.220.308 68.229.731.593 65.729.968.975 95.178.877.821 59.765.557.481
Permanent differences Income and related expenses already sujected to final tax Service revenues Cost of services Operating expenses Finance cost - net
(392.527.748.217)
(356.542.113.491)
(240.605.928.044)
(98.536.680.537)
Rugi fiskal awal tahun Koreksi dari kantor pajak
(255.545.552.470) 255.545.552.470
(226.065.753.801) 69.056.881.868
Estimated tax loss of the Company Tax losses carry-forward at beginning of year Correction from tax office
Rugi fiskal akhir tahun
(240.605.928.044)
(255.545.552.470)
Tax losses carry-forward at end of year
Taksiran rugi fiskal Perusahaan
148
2015
Taksiran rugi fiskal tahun 2016 hasil rekonsiliasi di atas menjadi dasar pengisian Surat Pemberitahuan Tahunan pajak penghasilan badan tahun 2016.
The 2016 estimated tax loss from the above reconciliation is the basis for the Company’s 2016 Annual Corporate Income Tax Returns.
Taksiran rugi fiskal erusahaan untuk tahun 2015, sebagaimana disebutkan di atas, sesuai dengan jumlah yang tercantum dalam SPT pajak penghasilan badan tahun 2015 yang dilaporkan ke Kantor Pajak.
The Company’s tax loss for 2015, as stated above, conforms with the amount reported to the Tax Office in its 2015 corporate income tax return.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
57
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
18. PERPAJAKAN (lanjutan) f.
18. TAXATION (continued) f.
Pajak penghasilan kini (lanjutan)
Current income tax (continued) The calculation of current income tax expense and estimated income tax payable (claim for tax refund) are as follows:
Perhitungan beban pajak kini dan taksiran utang (tagihan) pajak penghasilan adalah sebagai berikut:
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016 Taksiran penghasilan kena pajak (rugi fiskal) Perusahaan
2015
(240.605.928.044)
(98.536.680.537)
Entitas Anak
85.757.185.000
44.141.706.000
Beban pajak kini Perusahaan Entitas Anak
21.439.296.250
11.035.426.500
21.439.296.250
11.035.426.500
17.702.341.843
12.905.130.533
17.702.341.843
12.905.130.533
Total Pajak penghasilan dibayar dimuka Perusahaan Entitas Anak Total Taksiran utang (tagihan) pajak penghasilan Perusahaan Entitas Anak Neto
3.736.954.407
(1.869.704.033)
3.736.954.407
(1.869.704.033)
58
Estimated taxable income (tax loss) Company Subsidiaries Current income tax expense Company Subsidiaries Total Prepayments of income taxes Company Subsidiaries Total Estimated income tax payable (claim for tax refund) Company Subsidiaries Net
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
149
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
18. PERPAJAKAN (lanjutan) f.
18. TAXATION (continued) f.
Pajak penghasilan kini (lanjutan)
Current income tax (continued) The reconciliation between the income tax benefit as calculated by applying the applicable tax rate to the commercial income before income tax, after deducting income and related expenses already subjected to final tax and income from foreign subsidiary and reversal of inter-company eliminating entries during consolidation and and the net income tax expense (benefit) shown in the consolidated statement of profit or loss and other comprehensive income is as follows:
Rekonsiliasi antara manfaat pajak penghasilan, yang dihitung dengan menggunakan tarif pajak yang berlaku atas laba komersial sebelum pajak penghasilan, setelah dikurangi pendapatan dan beban yang telah dikenakan pajak final dan pendapatan dari entitas anak asing dan pembalikan atas jurnal eliminasi antar perusahaan pada saat konsolidasi dan beban (manfaat) pajak penghasilan neto, seperti yang tercantum dalam laporan laba rugi dan penghasilan komprehensif lain konsolidasian adalah sebagai berikut:
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016 Laba sebelum pajak final dan beban pajak penghasilan berdasarkan laporan laba rugi dan penghasilan komprehensif lain konsolidasian Pendapatan dan beban yang telah dikenakan pajak final Pendapatan dari entitas anak asing Pembalikan atas jurnal eliminasi antar perusahaan pada saat konsolidasi
Income before final tax and income tax per consolidated statement of profit or loss and other comprehensive income
232.096.636.048
317.640.620.854
(393.757.586.423)
(355.729.468.101)
Income net of related expenses already subjected to final tax
(6.751.430.548)
(37.987.896.196)
Income from foreign subsidiary Reversal of inter-company eliminating entries during consolidation
(10.547.025.395)
26.287.834.064
Rugi fiskal
(178.959.406.318)
(49.788.909.379)
Tax loss
Manfaat pajak penghasilan sesuai dengan tarif pajak yang berlaku
(44.739.851.580)
(12.447.227.345)
Income tax benefit based on applicable tax rate
Perusahaan Pembalikan di tahun berjalan Entitas Anak Pengaruh pajak atas beda tetap Pendapatan yang telah dikenakan pajak penghasilan yang bersifat final Lain-lain Manfaat pajak penghasilan - neto per laporan laba rugi dan penghasilan komprehensif lain konsolidasian
150
2015
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
24.634.170.134
-
Company Reversal in current year
6.303.785.769
1.003.206.333
Subsidiaries Tax effects of permanent differences
(1.253.796.080)
Income already subjected to final tax Others
(12.697.817.092)
Income tax benefit - net per consolidated statement of profit or loss and other comprehensive income
(65.815.952) 129.950.502
(13.737.761.127)
59
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
18. PERPAJAKAN (lanjutan) f.
18. TAXATION (continued) f.
Pajak penghasilan kini (lanjutan)
In 2016, the Group write off their claim for tax refund by Rp1,869,704,033, VAT-In (net) by Rp27,187,862,347, prepaid PPh 23 by Rp529,813,691, tax loss carry-forward at beginning of the year by Rp255,545,552,470 and its deferred tax asset of accumulated tax loss carry-forward by Rp24,634,170,134 as impact of tax amnesty program participation.
Pada tahun 2016, Kelompok Usaha menghapusbukukan taksiran tagihan pajak sebesar Rp1.869.704.033, PPN Masukan (neto) sebesar Rp27.187.862.347, PPh 23 dibayar dimuka sebesar Rp529.813.691, taksiran rugi fiskal awal tahun sebesar Rp255.545.552.470 dan aset pajak tangguhan atas akumulasi rugi fiskal awal tahun sebesar Rp24.634.170.134 sebagai efek atas partisipasi Kelompok Usaha dalam program pengampunan pajak. g.
Current income tax (continued)
g. Final tax and final tax payable computation
Perhitungan pajak final dan utang pajak final
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016
2015
Pendapatan dari angkutan laut dan sewa kapal yang dikenakan tarif pajak final Perusahaan Entitas Anak
1.157.715.970.137 1.065.158.724.029 19.630.000.000 14.400.000.000
Income from sea freight and charter of vessels subjected final tax rate Company Subsidiary
Total
1.177.345.970.137 1.079.558.724.029
Total
Pajak final Perusahaan Entitas Anak
14.077.688.487 235.560.000
12.991.502.705 172.800.000
Final tax Company Subsidiary
Total
14.313.248.487
13.164.302.705
Total
Pajak final yang telah dibayar Perusahaan Entitas Anak
13.107.740.502 188.340.000
11.850.503.589 158.221.096
Prepayments of Final tax Company Subsidiaries
Total
13.296.080.502
12.008.724.685
Total
969.947.985 47.220.000
1.140.999.116 14.578.904
Final tax liability Company Subsidiaries
1.017.167.985
1.155.578.020
Total
Utang pajak final Perusahaan Entitas Anak Total
60
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
151
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2016 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
18. PERPAJAKAN (lanjutan) h.
18. TAXATION (continued) h.
Aset (liabilitas) pajak tangguhan
Deferred tax assets (liabilities)
Manfaat (Beban) Pajak Tangguhan Dikreditkan (Dibebankan) ke/ Deferred Tax Benefit (Expense) Credited (Charged) to 31 Desember 2015/ December 31, 2015 (Disajikan Kembali/ Restated)
Laba Rugi Tahun 2016/ 2016 Profit or Loss
Penghasilan Komprehensif Lain/Other Comprehensive Income
31 Desember 2016/ December 31, 2016
Aset Pajak Tangguhan: Perusahaan Rugi fiskal Entitas Anak - Escorindo Liabilitas imbalan kerja Penyusutan Total
Deferred Tax Assets: 24.634.170.134
487.192.218 41.175.849 25.162.538.201
35.517.311.878
48.897.654 (234.935.297) 35.331.274.235
-
82.882.693 82.882.693
60.151.482.012
618.972.565 (193.759.448) 60.576.695.129
Liabilitas Pajak Tangguhan: Entitas Anak - Trisari Liabilitas imbalan kerja Penyusutan Utang sewa pembiayaan
589.006.438 (5.497.915.555) -
122.559.122 (276.775.980)
71.148.340 -
782.713.900 (5.774.691.535)
Total
(4.908.909.117)
(154.216.858)
71.148.340
(4.991.977.635)
Company Tax loss carry forward Subsidiary - Escorindo Employee benefit liability Depreciation Total Deferred Tax Liabilities: Subsidiary - Trisari Employee benefit liability Depreciation Finance lease liabilities Total
Manfaat (Beban) Pajak Tangguhan Dikreditkan (Dibebankan) ke/ Deferred Tax Benefit (Expense) Credited (Charged) to 31 Desember 2014/ December 31, 2014 (Disajikan Kembali/ Restated)
Laba Rugi Tahun 2016/ 2016 Profit or Loss
Penghasilan Komprehensif Lain/Other Comprehensive Income
31 Desember 2015/ December 31, 2015
Aset Pajak Tangguhan: Perusahaan Rugi fiskal
152
Deferred Tax Assets: -
Entitas Anak - Escorindo Liabilitas imbalan kerja Penyusutan
407.575.492 66.012.577
Total
473.588.069
24.634.170.134
91.587.012 (24.836.728) 24.700.920.418
24.634.170.134
Company Tax loss carry forward
(11.970.286) -
487.192.218 41.175.849
Subsidiary - Escorindo Employee benefit liability Depreciation
(11.970.286)
25.162.538.201
-
Total
Liabilitas Pajak Tangguhan: Entitas Anak - Trisari Liabilitas imbalan kerja Penyusutan Utang sewa pembiayaan
1.129.658.900 (3.563.027.706) (1.417.407.783)
(450.196.760) (1.934.887.849) 1.417.407.783
(90.455.702) -
589.006.438 (5.497.915.555) -
Deferred Tax Liabilities: Subsidiary - Trisari Employee benefit liability Depreciation Finance lease liabilities
Total
(3.850.776.589)
(967.676.826)
(90.455.702)
(4.908.909.117)
Total
Manajemen Kelompok Usaha berkeyakinan bahwa aset pajak tangguhan di atas dapat terpulihkan melalui penghasilan kena pajak di masa yang akan datang.
The Group’s management believes that the above deferred tax assets can be recovered through future taxable income.
Pada tahun 2015, manajemen memutuskan untuk tidak mengakui aset pajak tangguhan sebesar Rp39,3 miliar sehubungan dengan rugi fiskal Perusahaan sebesar Rp157 miliar.
In 2015, management decided not to recognize the deferred tax asset for current year amounting to Rp39.3 billion on the Company’s tax losses carry-forward amounting to Rp157 billion.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
61
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
19. PINJAMAN JANGKA PANJANG
19. LONG-TERM DEBTS This account represents loans and financing obtained from the following banks and financial institution:
Akun ini merupakan pinjaman dan pembiayaan yang berasal dari bank-bank dan lembaga keuangan sebagai berikut:
31 Desember/December 31, 2016 Utang bank Rupiah PT Bank Mandiri (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk Dikurangi biaya transaksi yang belum diamortisasi atas utang bank Selisih nilai wajar
2015
638.398.424.307
321.942.777.537
58.901.666.667
-
(2.414.626.166) (2.315.106.007)
-
Bank loans Rupiah PT Bank Mandiri (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk Less unamortized transaction cost on bank loans Difference in fair value
692.570.358.801
321.942.777.537
Net
(183.798.741.082)
(96.691.360.000)
Bagian jangka panjang - utang bank
508.771.617.719
225.251.417.537
Utang lembaga keuangan SeaCube Containers LLC., Singapura Bagian lancar
175.130.261.850 (47.391.160.528)
129.994.311.209 (40.104.345.778)
Bagian jangka panjang - utang lembaga keuangan
127.739.101.322
89.889.965.431
Neto Bagian lancar
Utang pembiayaan konsumen PT Bank Jasa Jakarta Bagian lancar
455.424.156 (455.424.156)
Bagian jangka panjang - utang pembiayaan konsumen Utang lain-lain - pihak berelasi PT Temas Lestari Bagian lancar
-
481.598.738
44.000.000.000 (44.000.000.000)
Bagian jangka panjang - utang lain-lain - pihak berelasi
-
62
1.116.315.587 (634.716.849)
59.318.500.000 (59.318.500.000) -
Current portion Long-term portion of bank loans Loan payable to financial institution SeaCube Containers LLC., Singapore Current portion Long-term portion of loan payable to financial institution Consumer financing payables PT Bank Jasa Jakarta Current portion Long-term portion of consumer financing payables Other payables - related party PT Temas Lestari Current portion Long-term portion of other payables - related party
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
153
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
19. PINJAMAN JANGKA PANJANG (lanjutan)
154
19. LONG-TERM DEBTS (continued)
Pinjaman bank jangka panjang
Long-term bank loans
PT Bank Mandiri (Persero) Tbk
PT Bank Mandiri (Persero) Tbk
Perusahaan memperoleh beberapa fasilitas kredit investasi dari Bank Mandiri dan telah diubah beberapa kali. Rincian fasilitas kredit yang masih terutang pada tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut:
The Company obtained several investment credit facilities from Bank Mandiri which have been amended several times. Details of credit facilities which are still outstanding as of December 31, 2016 and 2015 are as follows:
Pada tahun 2012, Perusahaan memperoleh fasilitas Kredit Investasi yang digunakan untuk membiayai pembelian kapal dengan pagu pinjaman sebesar Rp258.185.000.000. Pinjaman dari fasilitas ini terutang dalam angsuran triwulanan dengan tanggal pembayaran terakhir pada tanggal 1 Mei 2018 dan 3 Juni 2018. Pinjaman ini memiliki masa tenggang untuk pembayaran cicilan selama 6 bulan sampai dengan 1 Mei 2013 dan 3 Juni 2013. Pada tanggal 31 Desember 2016 dan 2015, pinjaman terutang dari fasilitas ini masing-masing sebesar Rp73.685.000.000 dan Rp122.885.000.000. Jumlah pembayaran yang dilakukan selama tahun 2016 dan 2015 sebesar Rp49.200.000.000 untuk setiap tahunnya.
In 2012, the Company obtained Investment Credit facilities totaling Rp258,185,000,000 which were used to finance the purchase of vessels. The loans from the facilities are payable in quarterly installments with the last installments being due on May 1, 2018 and June 3, 2018. These loans have grace periods for installment payment of six months until May 1, 2013 and June 3, 2013. As of December 31, 2016 and 2015, the outstanding loans from these facilities amounted to and Rp122,885,000,000, Rp74,685,000,000 respectively. Total installment payments made during 2016 and 2015 amounted to Rp49,200,000,000 for each year.
Pada tahun 2014, Perusahaan memperoleh fasilitas Kredit Investasi yang digunakan untuk membiayai pembelian kapal dengan pagu pinjaman sebesar Rp38.640.000.000. Pinjaman dari fasilitas ini terutang dalam angsuran triwulanan dengan tanggal pembayaran terakhir pada tanggal 27 Oktober 2018. Pinjaman ini memiliki masa tenggang untuk pembayaran cicilan selama 3 bulan sampai dengan Desember 2014. Pada tanggal 31 Desember 2016 dan 2015, pinjaman terutang dari fasilitas ini masingmasing sebesar Rp17.776.546.667 dan Rp27.934.573.333. Jumlah pembayaran yang dilakukan selama tahun 2016 dan 2015 masingmasing sebesar Rp10.158.026.667 dan Rp10.158.026.667.
In 2014, the Company obtained Investment Credit facilities totaling Rp38,640,000,000 which were used to finance the purchase of vessels. The loans from the facilities are payable in quarterly installments with the last installments being due on October 27, 2018. These loans have grace periods for installment payment of three months until December 2014. As of December 31, 2016 and 2015, the outstanding loans from these facilities amounted to Rp17,776,546,667 and Rp27,934,573,333. Total installment payments made during 2016 and 2015 amounted to Rp10,158,026,667 and Rp10,158,026,667.
Pada tahun 2015, Perusahaan memperoleh beberapa fasilitas Kredit Investasi yang digunakan untuk membiayai pembelian kapal dengan pagu pinjaman sebesar Rp180.000.000.000. Pinjaman ini akan jatuh tempo pada berbagai tanggal sejak bulan Juni 2020 sampai dengan bulan November 2020. Pada tanggal 31 Desember 2016 dan 2015, pinjaman terutang dari fasilitas ini masing-masing dan sebesar Rp135.666.666.661 Rp171.666.666.665. Jumlah pembayaran yang dilakukan selama tahun 2016 dan 2015 adalah masing-masing sebesar Rp36.000.000.000 dan Rp8.333.333.335.
In 2015, the Company obtained several Investment Credit facilities which were used to finance the purchase of vessels totalling Rp180,000,000,000. The loans were up to various dates from June 2020 to November 2020. As of December 31, 2016 and 2015, the outstanding loans from these facilities amounted to Rp135,666,666,661 and Rp171,666,666,665. Total installment payments made during 2016 and 2015 amounted to Rp36,000,000,000 and Rp8,333,333,333, respectively..
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
63
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
19. PINJAMAN JANGKA PANJANG (lanjutan)
19. LONG-TERM DEBTS (continued)
Pinjaman bank jangka panjang (lanjutan)
Long-terms bank loans (continued)
PT Bank Mandiri (Persero) Tbk (lanjutan)
PT Bank Mandiri (Persero) Tbk (continued)
Pada tahun 2016, Perusahaan memperoleh beberapa fasilitas Kredit Investasi yang digunakan untuk membiayai pembelian kapal dengan pagu pinjaman sebesar Rp417.732.000.000. Pinjaman ini akan jatuh tempo pada berbagai tanggal sejak bulan Oktober 2021 sampai dengan bulan Desember 2022. Pada tanggal 31 Desember 2016, pinjaman terutang dari fasilitas ini sebesar Rp361.270.210.984. Jumlah pembayaran yang dilakukan selama tahun 2016 sebesar Rp22.000.489.016.
In 2016, the Company obtained several Investment Credit facilities which were used to finance the purchase of vessels totalling Rp417,732,000,000. The loans were up to various dates from October 2021 to December 2022. As of December 31, 2016, the outstanding loans from these facilities amounted to Rp361,270,210,984. Total installment payments made during 2016 amounted to Rp22,000,489,016.
Pada tahun 2016, Tirtamas memperoleh fasilitas Kredit Investasi yang digunakan untuk membiayai pembelian kapal dengan pagu pinjaman sebesar Rp50.000.000.000. Pinjaman ini akan jatuh tempo pada bulan Oktober 2021. Pada tanggal 31 Desember 2016, pinjaman terutang dari fasilitas ini sebesar Rp50.000.000.000.
In 2016, Tirtamas obtained Investment Credit facilities which were used to finance the purchase of vessel totalling Rp50,000,000,000. The loans from the facilities is due on October 2021. As of December 31, 2016, the outstanding loan from this facility amounted to Rp50.000.000.000.
Seluruh pinjaman tersebut di atas yang diperoleh dari Bank Mandiri dikenakan bunga mengambang dengan tingkat bunga tahunan berkisar antara 10,5% sampai dengan 11,5% pada tahun 2016 dan antara 11,25% sampai dengan 11,75% pada tahun 2015.
All the above loans obtained from Bank Mandiri bore floating interest at annual rates ranging from 10.5% to 11.5% in 2016 and from 11.25% to 11.75% in 2015.
Pinjaman yang diperoleh dari PT Bank Mandiri (Persero) Tbk di atas dijamin dengan kapal (Catatan 11), piutang usaha - pihak ketiga (Catatan 5), persediaan (Catatan 8), tanah, bangunan dan peti kemas (Catatan 11) milik Perusahaan. Seluruh jaminan di atas juga digunakan sebagai joint collateral dengan utang bank jangka pendek yang diperoleh Perusahaan dari Bank Mandiri (Catatan 13).
The above loans obtained from PT Bank Mandiri (Persero) Tbk are collateralized by vessels (Note 11), trade receivables - third parties (Note 5), inventories (Note 8), the Company’s land, buildings and containers (Note 11). All the above collaterals are also used as joint collaterals with the short-term bank loans obtained by the Company from Bank Mandiri (Note 13).
Berdasarkan ketentuan dalam perjanjian pinjaman dengan Bank Mandiri, Perusahaan diharuskan untuk menjaga rasio utang terhadap ekuitas tidak lebih dari 375% serta debt service coverage minimal satu (1) kali. Pada tanggal 31 Desember 2016, Perusahaan telah memenuhi persyaratan keuangan tersebut.
Under the terms of the loan agreements with Bank Mandiri, the Company is required to maintain total debt-to-equity ratio of not more than 375% and debt service coverage at a minimum of one (1) time. As of December 31, 2016, the Company has complied with these financial loan covenants.
64
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
155
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
19. PINJAMAN JANGKA PANJANG (lanjutan)
156
19. LONG-TERM DEBTS (continued)
Pinjaman bank jangka panjang (lanjutan)
Long-terms bank loans (continued)
PT Bank Mandiri (Persero) Tbk (lanjutan)
PT Bank Mandiri (Persero) Tbk (continued)
Berdasarkan perjanjian, persyaratan tertentu tidak memperbolehkan untuk, antara lain, melakukan perubahan pada anggaran dasar kecuali perubahan pada direksi Perusahaan; memindahtangankan atau menjaminkan aset yang dijaminkan; melakukan transaksi derivatif; mengumumkan dan membagikan dividen kas; melakukan investasi baru; dan berpartisipasi dalam kepemilikan entitas baru, tanpa sepengetahuan Bank Mandiri.
Based on the agreements, the restrictive covenants prohibit, among others, changes in the articles of association except changes in the Company’s board of directors; transfer or pledge of the collateral assets; entering into derivative transaction; declaration and payment of cash dividend; new investment; and participation in the ownership of a new company, without the consent of Bank Mandiri.
PT Bank Negara Indonesia (Persero) Tbk (BNI)
PT Bank Negara Indonesia (Persero) Tbk (BNI)
Pada tahun 2016, Escorindo memperoleh fasilitas Kredit Modal Kerja yang digunakan untuk membiayai pembelian mesin peralatan beserta alat pendukungnya dengan pagu pinjaman sebesar Rp61.000.000.000. Pinjaman dari fasilitas ini akan terutang dalam angsuran bulanan sebanyak 60 kali. Pinjaman dari fasilitas ini dikenakan suku bunga tetap dengan tingkat bunga tahunan sebesar 10,75%. Jumlah pembayaran yang dilakukan selama tahun 2016 sebesar Rp998.333.333.
In 2016, Escorindo obtained Working Capital Loan facility which was used to finance the purchase of machine and heavy equipment with total facility amounting to Rp61,000,000,000. The loan from the facility is payable in 60 monthly installments. The loan from this facility bears fixed interest at the annual rate of 10.75%. Total installment payments made during 2016 amounted to Rp998,333,333.
Pinjaman tersebut dijamin dengan alat berat yang kepemilikannya dibiayai oleh fasilitas tersebut (Catatan 11).
The loan is collateralized by the heavy equipment whose acquisitions were financed by the facility (Note 11).
Berdasarkan ketentuan dalam perjanjian pinjaman dengan BNI, Escorindo diharuskan untuk menjaga rasio lancar minimal 1 kali, rasio utang terhadap ekuitas tidak lebih dari 2,2 dan debt service coverage minimal 120%. Pada tanggal 31 Desember 2016, Perusahaan telah memenuhi persyaratan keuangan tersebut.
Under the terms of the loan agreements with BNI, Escorindo is required to maintain current ratio minimum 1 time, total debt-to-equity ratio of not more than 2.2 and debt service coverage at a minimum of 120%. As of December 31, 2016, the Company has complied with these financial loan covenants.
Utang pembiayaan konsumen
Consumer financing payables
PT Bank Jasa Jakarta
PT Bank Jasa Jakarta
Pada tahun 2014, Perusahaan memperoleh fasilitas pembiayaan sebesar Rp1.848.700.000 dari PT Bank Jasa Jakarta yang digunakan untuk membiayai pembelian kendaraan. Jumlah pembayaran yang dilakukan selama tahun 2016 dan 2015 adalah masing-masing sebesar Rp660.891.431 dan Rp539.234.069.
In 2014, the Company obtained a financing facility amounting to Rp1,848,700,000 from PT Bank Jasa Jakarta to finance the acquisition of vehicles. Total installment payments made during 2016 and 2015 amounted to Rp660,891,431 and Rp539,234,069 respectively.
Pinjaman dari fasilitas ini terutang dalam angsuran bulanan sampai dengan bulan Juli 2017. Pinjaman tersebut dijamin dengan kendaraan yang kepemilikannya dibiayai oleh fasilitas tersebut (Catatan 11).
The loan from the facility is payable in monthly installments up to July 2017. The loan is collateralized by the vehicles whose acquisitions were financed by the facility (Note 11).
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
65
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
19. PINJAMAN JANGKA PANJANG (lanjutan)
19. LONG-TERM DEBTS (continued)
Utang lembaga keuangan
Loan payable to financial institution
SeaCube Containers LLC., Singapura
SeaCube Containers LLC., Singapore
Pada tahun 2012, Perusahaan memperoleh fasilitas pembiayaan dari SeaCube Containers LLC., dengan jumlah sebesar US$5.000.000. Pinjaman ini dikenakan bunga dengan tingkat bunga tahunan sebesar 5%. Pinjaman dan fasilitas ini dibayar dalam angsuran bulanan sampai dengan tahun 2017. Pinjaman dari fasilitas tersebut dijamin dengan kontainer milik Perusahaan dan Anemi (Catatan 11). Perjanjian ini telah mengalami beberapa perubahan. Perubahan terakhir dilakukan pada 28 April 2016, dimana Perusahaan memperoleh fasilitas tambahan untuk pembelian 2.000 kontainer 20” dan 1.500 kontainer 40” sebesar US$6.925.402 (setara Rp91.187.548.583). Jumlah pembayaran yang dilakukan selama tahun 2016 dan 2015 masingmasing sebesar US$3.314.290 (setara Rp44.229.189.992) dan US$2.449.273 (setara Rp32.964.966.398).
In 2012, the Company obtained a financing facility amounting to US$5,000,000 from SeaCube Containers LLC. The loans from the facility bear interest at the annual rate of 5%. The loans are payable in monthly installments up to 2017. The loans are collateralized by containers owned by the Company and Anemi (Note 11). The loan agreement was amended several times, the latest amendmend was made in Aprik 28, 2016, Company obtained additional loan facility to finance the acqusitions of 2,000 units of containers 20” and 1,500 units of containers 40” amounting to US$6,925,402 (equivalent to Rp91,187,548,583). Total installment payments made during 2016 and 2015 amounted to US$3,314,290 (equivalent to Rp44,229,189,992) and US$2,449,273 (equivalent to Rp32,964,966,398), respectively.
Fasilitas pembiayaan ini akan jatuh tempo pada berbagai tanggal sejak bulan Mei 2017 sampai dengan bulan Januari 2022.
These financing faiclities were up to various dates from May 2017 to January 2022
Utang lain-lain
Other payables
PT Temas Lestari
PT Temas Lestari
Pada tanggal 1 November 2012, Perusahaan memperoleh pinjaman lain dari PT Temas Lestari untuk digunakan dalam kegiatan operasional Perusahaan dengan pagu pinjaman sebesar US$7.000.000. Pada bulan Januari 2013, perjanjian ini mengalami perubahan untuk memperpanjang jatuh tempo utang dari semula bulan Oktober 2014 menjadi bulan Oktober 2016. Selain itu, pinjaman ini yang semula dikenakan bunga tahunan sebesar 5% menjadi tanpa bunga sejak 1 Januari 2013. Pada tanggal 31 Desember 2015, saldo pinjaman ini sebesar US$4.300.000 atau setara dengan Rp59.318.500.000. Pada tahun 2016, seluruh pinjaman telah dilunasi oleh Perusahaan.
On November 1, 2012, the Company obtained another loan from PT Temas Lestari for operational purposes from a facility with a maximum credit amounting to US$7,000,000. In January 2013, the loan agreement was amended, to extend the due date originally in October 2014 to October 2016. In addition, the loan which originally bore interest at the annual rate of 5% became non-interest bearing since January 1, 2013. As of December 31, 2015 the loan amounting to US$4,300,000 or equivalent to Rp59,318,500,000. In 2016, the loan already fully paid by the Company.
Pada tanggal 19 Desember 2016, Perusahaan memperoleh fasilitas pinjaman lainnya dari PT Temas Lestari. Pagu pinjaman dari fasilitas ini sebesar Rp44 milyar dengan jangka waktu pinjamann selama satu tahun yang akan berakhir pada 30 Juni 2017 dan memiliki tingkat bunga sebesar 10% per tahun. Pada tanggal 31 Desember 2016 saldo pinjaman ini sebesar Rp44.000.000.000.
On December 19, 2016, the Company obtained another loan facility from PT Temas Lestari. The facility amounted to Rp44 billion with a term of one year, expiring on June 30, 2017 and have interest bearing rate 10% per year. As of December 31, 2016 the loan amounts to Rp44,000,000,000.
Fasilitas pinjaman dan perubahan persyaratan pinjaman tersebut di atas bertujuan untuk menunjang kegiatan usaha utama Perusahaan.
The purpose for above loan facilities and the amendment of the credit term as mentioned above is to support the main business activities of the Company.
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
157
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
20. UTANG SEWA PEMBIAYAAN
20. FINANCE LEASE LIABILITIES
Kelompok Usaha mengadakan beberapa perjanjian sewa untuk pembiayaan pembelian peti kemas dan alat berat, dengan jangka waktu berkisar antara 30 sampai dengan 66 bulan dan berakhir pada bulan Desember 2018, dengan rincian sebagai berikut:
The Group entered into several agreements for the lease of containers and heavy equipment, with lease terms ranging from 30 to 66 months and expiring on December 2018, with details as follows:
31 Desember/December 31, 2016 Dolar Amerika Serikat International Container Pool Pte., Ltd., Amerika Serikat (US$2.346.687 pada tahun 2016 dan US$3.605.373 pada tahun 2015) Rosenfeld Gold, Pte. Ltd (US$1.840.243 pada tahun 2016 dan US$2.645.710 pada tahun 2015) Dikurangi bagian lancar Bagian jangka panjang
2015
31.530.076.512
49.736.133.916
24.725.509.587 (30.616.151.773)
36.497.551.654 (29.478.963.609)
25.639.434.326
56.754.721.961
Pembayaran sewa minimum di masa yang akan datang berdasarkan perjanjian-perjanjian tersebut adalah sebagai berikut:
United States dollar International Container Pool Pte., Ltd., USA (US$1,840,243 in 2016 and US$3,605,373 in 2015) Rosenfeld Gold, Pte. Ltd (US$2,346,687 in 2016 and US$2,645,710 in 2015) Less current portion Long-term portion
Future minimum rental payments required under the lease agreements are as follows:
31 Desember/December 31, 2016
2015
Tahun 2016 2017 2018
32.073.888.613 26.038.467.643
33.500.164.674 31.826.228.150 25.182.708.907
Total Dikurangi bagian dikenakan bunga
58.112.356.256 (1.856.770.157)
90.509.101.731 (4.275.416.161)
Total Less amount applicable to interest
56.255.586.099 (30.616.151.773)
86.233.685.570 (29.478.963.609)
Present value of minimum payments Less current portion
25.639.434.326
56.754.721.961
Nilai kini pembayaran minimum Dikurangi bagian lancar Bagian jangka panjang
Utang sewa pembiayaan tersebut dijamin dengan aset yang dibiayai (Catatan 11).
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Years 2016 2017 2018
Long-term portion
The finance lease liabilities are collateralized by the leased assets (Note 11).
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
21. UTANG TRANSAKSI SYARIAH
21. OBLIGATION TRANSACTIONS
Akun ini merupakan utang yang diperoleh dari PT Bank Syariah Mandiri (BSM) dalam beberapa perjanjian berikut ini:
UNDER
SYARIAH
This account represents loans obtained from PT Bank Syariah Mandiri (BSM) under the following arrangements:
31 Desember/December 31, 2016
2015
Al Murabahah Dikurangi: Beban murabahah tangguhan Dikurangi biaya transaksi yang belum diamortisasi atas utang syariah Selisih nilai wajar
330.845.055.498
Utang transaksi syariah
241.854.606.233
147.063.074.777
Bagian lancar
(55.114.084.724)
(41.577.064.994)
Bagian jangka panjang
186.740.521.508
105.486.009.783
(83.054.154.722) (449.931.059) (5.486.363.484)
181.425.856.509
Al Murabahah Less: (33.762.873.653) Unamortized Murabahah deferred expense Less unamortized transaction cost (599.908.079) on sharia loan Difference in fair value Syariah transaction liabilities Current portion Long-term portion
Pada tahun 2010, Perusahaan memperoleh fasilitas pinjaman Al Murabahah dengan pagu pinjaman sebesar Rp37.145.000.000 atau maksimal 80% dari nilai kapal terkait dengan pembelian kapal seharga Rp59.675.300.000. Pinjaman dari fasilitas ini terutang dalam angsuran triwulanan dengan tanggal pembayaran terakhir pada tanggal 6 Februari 2016. Pinjaman tersebut dijamin dengan kapal yang perolehannya dibiayai oleh fasilitas ini, dan tanah milik Perusahaan (Catatan 11) dan personal guarantee dari Harto Khusumo. Jumlah pembayaran yang dilakukan selama tahun 2016 dan 2015 masing-masing sebesar Rp1.958.241.630 dan Rp10.424.105.718.
In 2010, the Company obtained Al Murabahah loan facility with maximum amount of Rp37,145,000,000 or at the maximum amount of 80% of the value of a vessel to be purchased for Rp59,675,300,000. The loan from the facility is payable in quarterly installments with the last installment being due on February 6, 2016. The loan is collateralized by the vessel whose acquisition was financed by this facility, and land properties owned by the Company (Note 11) and personal guarantee from Harto Khusumo. Total installment payments made during 2016 and 2015 and amounted to Rp1,958,2415,630 Rp10,424,105,718, respectively.
Pada tahun 2016 pinjaman ini telah dilunasi seluruhnya.
In 2016, the loan facility has been fully paid.
Pada tahun 2012, Perusahaan memperoleh tambahan fasilitas pinjaman Al Murabahah untuk pembelian dua buah kapal dengan pagu pinjaman sebesar Rp104.983.913.822 atau maksimal 75% dari nilai kapal terkait dengan pembelian kapal seharga Rp141.018.258.334. Pinjaman dari fasilitas ini terutang dalam angsuran triwulanan dengan tanggal pembayaran terakhir pada tanggal 12 Desember 2019. Pinjaman tersebut dijamin dengan kapal yang perolehannya dibiayai oleh fasilitas ini (Catatan 11). Pinjaman ini memiliki masa tenggang untuk pembayaran cicilan selama enam bulan sampai dengan tanggal 1 Juli 2013. Jumlah pembayaran yang dilakukan selama tahun 2016 dan 2015 masing-masing sebesar Rp14.751.128.441 dan Rp12.459.862.747.
In 2012, the Company obtained additional Al Murabahah loan facility to purchase two vessels with credit facility amounting to Rp104,983,913,822 or at the maximum amount of 75% of the value of the vessel to be purchased for Rp141,018,258,334. The loan from the facility is payable in quarterly installments with the last installment being due on December 12, 2019. The loan is collateralized by the vessels whose acquisition was financed by this facility (Note 11). This loan had a grace period for installment payment of six months until July 1, 2013. Total installment payments made during 2016 and 2015 amounted to Rp12,459,862,747 and Rp14,751,128,441, respectively.
Pada tanggal 31 Desember 2016 dan 2015, pinjaman terutang dari fasilitas ini adalah masingmasing sebesar Rp62.616.042.482 dan Rp76.975.606.742.
As of December 31, 2016 and 2015, the outstanding loan from the facility amounted to Rp62.616.042.482 and Rp76,975,606,742, respectively.
68
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
159
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
21. UTANG TRANSAKSI SYARIAH (lanjutan)
160
21. OBLIGATION UNDER TRANSACTIONS (continued)
SYARIAH
Pada tahun 2016, Perusahaan memperoleh tambahan fasilitas pinjaman Al Murabahah untuk pembelian lahan untuk depo peti kemas dengan pagu pinjaman sebesar Rp139.000.000.000. Pinjaman dari fasilitas ini terutang dalam angsuran bulanan dengan tanggal pembayaran terakhir pada tanggal 21 Desember 2023. Pinjaman tersebut dijamin dengan lahan yang perolehannya dibiayai oleh fasilitas ini (Catatan 11).
In 2016, the Company obtained additional Al Murabahah loan facility to purchase land for container depot with credit facility amounting to Rp139,000,000,000. The loan from the facility is payable in monthly installments with the last installment being due on December 21, 2023. The loan is collateralized by the land whose acquisition was financed by this facility (Note 11).
Perusahaan harus memperoleh persetujuan tertulis dari BSM sebelum melakukan pengalihan hak atas barang jaminan kepada pihak lain.
The Company has to obtain written approval from BSM prior to performing transactions that transfer rights over the pledged assets.
Pada tahun 2015, Trisari mendapatkan dua fasilitas pinjaman Al Murabahah dengan pagu pinjaman sebesar Rp104.264.250.000, yang terdiri dari Rp90.000.000.000 merupakan pengambil-alihan fasilitas kredit dari Bank CIMB Niaga (Catatan 19) dan Rp14.264.250.000 merupakan fasilitas baru untuk membeli aset tetap. Fasilitas ini akan masingmasing jatuh tempo pada tanggal-tanggal 25 April 2018 dan 25 Mei 2019 untuk fasilitas pengambilalihan dan fasilitas baru. Jumlah pembayaran pada tahun 2016 dan 2015 adalah masing-masing sebesar Rp24.867.694.923 dan Rp14.168.793.457.
In 2015, Trisari obtained two Al Murabahah loan facilities with maximum amount of Rp104,264,250,000, which consists of Rp90,000,000,000 refinancing loan facility from Bank CIMB Niaga (Note 19) and Rp14,264,250,000 for a new facility to purchase fix assets. These facilities were up to April 25, 2018 and May 25, 2019 for refinancing facility and new facility, respectively. Total installment payments made during 2015 and 2016 amounted to Rp24,867,694,923 and Rp14,168,793,457, respectively.
Pada tanggal 31 Desember 2016, pinjaman terutang dari fasilitas ini adalah sebesar Rp43.457.334.814.
As of December 31, 2016, the outstanding loan from the facility amounted to Rp43,457,334,814.
Beban murabahah tangguhan yang diamortisasi dan dibebankan pada operasi masing-masing sebesar Rp6.517.248.838 pada tahun 2016 (Catatan 34).
Amortization of Murabahah deferred expense charged to 2016 operations amounted to Rp6,517,248,838 in 2016. (Note 34).
Pada tahun 2016, Trisari memperoleh tambahan fasilitas pinjaman Al Murabahah untuk untuk membiayai pembelian mesin peralatan beserta alat pendukungnya dengan pagu pinjaman sebesar Rp14.264.250.000. Fasilitas ini akan jatuh tempo pada tanggal-tanggal 25 Maret 2018. Jumlah pembayaran pada tahun 2016 adalah sebesar Rp1.361.908.603.
In 2016, Trisari obtained additional Al Murabahah Loan facility which was used to finance the purchase of machine and heavy equipment with total falicility amounting to Rp14,264,250,000. These facilities were up to March 25, 2018. Total installment payments made during 2016 amounted to Rp1,361,908,60..
Pinjaman tersebut dijamin dengan alat berat yang perolehannya dibiayai oleh fasilitas ini (Catatan 11).
The loan is collateralized by the heavy equipment whose acquisition was financed by this facility (Note 11)
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
69
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 22. LIABILITAS PANJANG
IMBALAN
KERJA
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
JANGKA
22. LONG-TERM EMPLOYEE BENEFITS LIABILITY
Akrual atas imbalan kerja Kelompok Usaha pada tahun 2016 dan 2015 ditentukan berdasarkan penilaian aktuaris yang dilakukan oleh PT Dian Artha Tama, aktuaris independen, laporannya masing-masing pada tanggal 22 Februari 2017 dan 22 Februari 2016 untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2016 dan 2015.
The Group’s outstanding accruals for employee benefits were determined based on the actuarial valuations performed by PT Dian Artha Tama, an independent actuary, in its reports dated February 22, 2017 and February 22, 2016 for the years ended December 31, 2016 and 2015, respectively.
Penilaian aktuaris dihitung dengan menggunakan metode projected-unit-credit, yang berdasarkan asumsi-asumsi berikut:
The actuarial valuations were determined using the projected-unit-credit method, which considered the following assumptions:
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016 Umur pensiun normal Tingkat diskonto Tingkat kenaikan gaji Tingkat kematian
2015
55 tahun/years 8.4% 8-10% TMI - III (2011)
Imbalan kerja neto yang diakui dalam laporan laba rugi dan penghasilan komprehensif lain konsolidasian terdiri dari:
55 tahun/years 9.1% 8-10% TMI - III (2011)
Normal pension age Discount rate Salary increment rate Mortality rate
The net employee benefits recognized in the consolidated statement of profit or loss and other comprehensive income consisted of the following:
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016
2015
Biaya jasa kini Biaya bunga
2.152.405.506 1.928.882.222
1.953.429.672 1.444.051.560
Current service cost Interest cost
Beban imbalan kerja - neto
4.081.287.728
3.397.481.232
Net employee benefits expense
Mutasi liabilitas imbalan kerja adalah sebagai berikut:
Movements in the employee benefits liability are as follows:
31 December 2016/ 31 December 2015/ December 31, 2016 December 31, 2015
Saldo awal periode Beban imbalan kerja Kerugian pengukuran kembali aktuarial yang diakui sebagai penghasilan komprehensif lain Pembayaran selama periode berjalan
21.196.507.929 4.081.287.728
18.050.644.507 3.397.481.232
Balance at beginning of period Employee Benefits expense
935.007.781
704.612.759
Re-measurement losses in other comprehensive income
Saldo akhir periode
25.093.790.406
(1.119.013.032)
70
(956.230.569)
Payment during the period
21.196.507.929
Balance at end of period
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
161
2016 PERFORMANCE HIGHLIGHTS
INTRODUCTION
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 22. LIABILITAS IMBALAN PANJANG (lanjutan)
KERJA
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
JANGKA
22. LONG-TERM EMPLOYEE BENEFITS LIABILITY (continued)
Mutasi nilai kini liabilitas imbalan kerja jangka panjang adalah sebagai berikut:
Movements in the present value of long-term employee benefits liability are as follows:
31 December 2016/ 31 December 2015/ December 31, 2016 December 31, 2015
Saldo awal tahun Biaya bunga Biaya jasa kini Manfaat pembayaran (Laba) rugi aktuarial atas : Penyesuaian historis Perubahan asumsi finansial Perubahan asumsi demografis
21.196.507.929 1.928.882.222 2.152.405.506 (1.119.013.032)
18.050.644.507 1.444.051.560 1.953.429.672 (956.230.569)
(179.166.634) 1.114.174.415 -
1.398.068.256 (1.282.459.119) 589.003.622
Saldo akhir tahun
25.093.790.406
Balance at beginning of year Interest cost Current service cost Benefit payment Actuarial (gain) loss due from : Experience adjustment Change in financial assumption Change in demographic assumption
21.196.507.929
Perubahan sebesar satu persentase pada tingkat diskonto pada tanggal 31 Desember 2016 dan tahun yang berakhir pada tanggal tersebut berdampak sebagai berikut:
31 December 2016/ December 31, 2016
Balance at end of year
One percentage point change in the assumed discount rate as of December 31, 2016 and for the year then ended would have had the following effects:
Kenaikan Akumulasi kewajiban imbalan pasti Biaya jasa kini dan bunga
23.532.905.617 3.915.205.939
Increase Accumulated defined benefits obligation Service and interest costs
Penurunan Akumulasi kewajiban imbalan pasti Biaya jasa kini dan bunga
26.880.667.772 4.273.722.010
Decrease Accumulated defined benefits obligation Service and interest costs
One percentage point change in the assumed salary increase rate as of December 31, 2016 and for the year then ended would have had the following effects:
Perubahan sebesar satu persentase pada tingkat kenaikan gaji pada tanggal 31 Desember 2016 dan tahun yang berakhir pada tanggal tersebut berdampak sebagai berikut: 31 December 2016/ December 31, 2016 Kenaikan Akumulasi kewajiban imbalan pasti Biaya jasa kini dan bunga
26.844.956.053 4.269.694.762
Increase Accumulated defined benefits obligation Service and interest costs
Penurunan Akumulasi kewajiban imbalan pasti Biaya jasa kini dan bunga
23.536.156.531 3.915.732.923
Decrease Accumulated defined benefits obligation Service and interest costs
The amounts of the present value of defined benefit obligation for retirement benefits and actuarial loss (gain) are as follows:
Jumlah nilai kini liabilitas imbalan pasti untuk imbalan pensiun dan rugi (laba) aktuarial adalah sebagai berikut: 2016 Nilai kini kewajiban imbalan pasti (Laba) rugi aktuarial atas : Penyesuaian historis Perubahan asumsi finansial Perubahan asumsi demografis
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
2015
25.093.790.406 (179.166.634) 1.114.174.415 -
2014
2013
21.196.507.929
18.050.644.507
18.730.348.103
Present value of defined benefits obligation
1.398.068.256
(3.256.212.995)
8.867.311.219
Actuarial loss (gain) : Experience adjustment
(1.282.459.119)
-
589.003.622
-
71
(3.901.737.464 ) -
Change in financial assumption Change in demographic assumption
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 22. LIABILITAS IMBALAN PANJANG (lanjutan)
KERJA
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
JANGKA
22. LONG-TERM EMPLOYEE BENEFITS LIABILITY (continued)
Manajemen berkeyakinan bahwa liabilitas imbalan kerja karyawan telah cukup sesuai dengan yang disyaratkan oleh UUK.
Management believes that the employee benefits liability is sufficient in accordance with the requirements of the Labor Law.
Jadwal jatuh tempo dari liabilitas imbalan pasti pada tanggal 31 Desember 2016:
The maturity profile of defined benefits obligation as of December 31, 2016: 31 Desember 2016/ December 31, 2016
1 tahun 2 - 3 tahun 3 - 5 tahun Lebih dari 5 tahun
6.181.364.893 1.446.976.525 3.787.635.342 301.674.182.695
Within one year 2 - 3 years 3 - 5 years More than 5 years
Total
313.090.159.455
Total
23. MODAL SAHAM
23. CAPITAL STOCK The composition of the stockholders was as follows:
Susunan pemegang saham adalah sebagai berikut:
31 Desember 2016/December 31, 2016
Pemegang saham
Jumlah saham ditempatkan dan disetor penuh/ Number of shares issued and fully paid
Manajemen Ganny Zheng (Direktur) Harto Khusumo (Direktur Utama) Teddy Arief Setiawan (Direktur) Wong Chau Lin (Komisaris Utama) Non-manajemen PT Temas Lestari Masyarakat (masing-masing dengan kepemilikan kurang dari 5%) Total
Persentase kepemilikan/ Percentage of ownership
Jumlah/ Total
Stockholders
213.626.487
18,72%
26.703.310.875
Management Ganny Zheng (Director) Harto Khusumo (President Director) Teddy Arief Setiawan (Director) Wong Chau Lin (President Commissioner) Non-management PT Temas Lestari Public (each with ownership of less than 5%)
1.141.030.000
100,00%
142.628.750.000
Total
4.523.545 246.532 110.980 69.500
0,40% 0,02% 0,01% 0,01%
565.443.125 30.816.500 13.872.500 8.687.500
922.452.956
80,84%
115.306.619.500
31 Desember 2015/December 31, 2015
Pemegang saham
Jumlah saham ditempatkan dan disetor penuh/ Number of shares issued and fully paid
Manajemen Ganny Zheng (Direktur) Harto Khusumo (Direktur Utama) Teddy Arief Setiawan (Direktur) Wong Chau Lin (Komisaris Utama) Non-manajemen PT Temas Lestari Masyarakat (masing-masing dengan kepemilikan kurang dari 5%) Total
Persentase kepemilikan/ Percentage of ownership
Jumlah/ Total
Stockholders
4.523.545 246.532 73.980 69.500
0,40% 0,02% 0,01% 0,01%
565.443.125 30.816.500 9.247.500 8.687.500
922.452.956
80,84%
115.306.619.500
213.663.487
18,72%
26.707.935.875
Management Ganny Zheng (Director) Harto Khusumo (President Director) Teddy Arief Setiawan (Director) Wong Chau Lin (President Commissioner) Non-management PT Temas Lestari Public (each with ownership of less than 5%)
1.141.030.000
100,00%
142.628.750.000
Total
72
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
163
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
24. TAMBAHAN MODAL DISETOR
24. ADDITIONAL PAID-IN CAPITAL
Pada tanggal-tanggal 31 Desember 2016 dan 2015, rincian tambahan modal disetor adalah sebagai berikut:
As of December 31, 2016 and 2015, the details of additional paid-in capital are as follows:
31 Desember 2016/ 31 Desember 2015/ December 31, 2016 December 31, 2015
Agio saham dari: Pembagian dividen saham sejumlah 148.830.000 saham Penawaran umum saham pada tahun 2003 Biaya emisi efek ekuitas Penerbitan saham bonus sebanyak 45.100.000 saham Selisih nilai transaksi entitas sepengendali Neto
137.667.750.000
137.667.750.000
Additional paid-in capital from: Distribution of 148,830,000 shares as stock dividend
16.500.000.000 (2.705.284.215)
16.500.000.000 (2.705.284.215)
Initial public offering of shares in 2003 Stock issuance costs
(11.275.000.000)
(11.275.000.000)
5.415.583.529
5.415.583.529
Declaration of 45,100,000 bonus shares Difference in value from transactions of entities under common control
145.603.049.314
145.603.049.314
Net
Saldo selisih nilai transaksi entitas sepengendali merupakan selisih antara nilai buku perusahaan yang diperoleh dari entitas sepengendali dan dengan imbalan yang dialihkan secara keseluruhan, sebagai berikut:
The balance of difference in value from transactions of entities under common control consists of the difference between the book value of the following companies acquired from entities under common control and the total considerations transferred:
31 Desember 2016/ 31 Desember 2015/ December 31, 2016 December 31, 2015
PT Pelayaran Tirtamas Express PT Bongkar Muat Olah Jasa Trisari Andal
5.459.450.213 (43.866.684)
5.459.450.213 (43.866.684)
Neto
5.415.583.529
5.415.583.529
25. RUGI KOMPREHENSIF LAIN
PT Pelayaran Tirtamas Express PT Bongkar Muat Olah Jasa Trisari Andal Net
25. OTHER COMPREHENSIVE LOSS Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016
Saldo awal Selisih kurs karena penjabaran laporan keuangan selama tahun berjalan Rugi pengukuran kembali atas program imbalan pasti Saldo akhir
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
2015
(99.488.884.785)
(83.738.619.544)
Beginning balance
(3.082.598.838)
(14.943.226.495)
(777.879.440)
(807.038.746)
Translation adjustments during the year Remeasurement loss of defined benefit plan
(103.349.363.063)
(99.488.884.785)
Ending balance
73
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 26. SALDO LABA PENGGUNAANNYA
YANG
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
DITENTUKAN
26. APPROPRIATED RETAINED EARNINGS
Dalam rangka memenuhi Undang-undang Perseroan Terbatas No. 40 tanggal 16 Agustus 2007, yang mengharuskan perusahaanperusahaan secara bertahap mencadangkan sekurang-kurangnya 20% dari modal yang ditempatkan sebagai cadangan dana umum, para pemegang saham menyetujui pencadangan sebagian dari saldo laba Perusahaan.
In compliance with Corporation Law No. 40 dated August 16, 2007, which requires companies to set aside, on a gradual basis, an amount equivalent to at least 20% of their subscribed capital as general reserve, the stockholders have approved the partial appropriation of the Company’s retained earnings as general reserve.
Total saldo laba yang telah dicadangkan sebagai cadangan dana umum sampai dengan tanggal 31 Desember 2016 adalah sebesar Rp34.823.179.931. Tambahan jumlah laba yang telah ditentukan penggunaannya akan dilakukan setelah memperoleh persetujuan dari para pemegang saham dalam rapat umum pemegang saham tahunan berikutnya.
Total appropriation of the Company’s retained earnings as general reserve as of December 31, 2016 amounted to Rp34,823,179,931. Additional appropriation of retained earnings will be made after the approval from the stockholders is obtained in their next annual general meeting.
27. DIVIDEN KAS
27. CASH DIVIDEND
Berdasarkan Berita Acara Rapat Umum Pemegang Saham Tahunan yang diselenggarakan pada tanggal 27 April 2016 dan 26 Juni 2015 yang masing-masing diaktakan dengan Akta Notaris Dr. Irawan Soerodjo, SH, M.Si., No. 132 dan Herdimansyah Chaidirsyah, S.H., No. 96, para pemegang saham memutuskan untuk membagikan dividen kas sebesar Rp47.580.951.000 dari laba tahun 2015 dan Rp20.324.182.893 dari laba tahun buku 2014. 28. HAK KEPENTINGAN NONPENGENDALI ATAS ASET NETO ENTITAS ANAK
Based on the Minutes of the Stockholders’ Annual Meetings held on April 27, 2016 and June 26, 2015 which were notarized under Deeds No. 132 of Dr. Irawan Soerodjo, SH, M.Si., and No. 96 of Chaidirsyah, S.H., the Herdimansyah stockholders decided to distribute cash dividend amounting to Rp47,580,951,000 from the 2015 earnings and Rp20,324,182,893 from the 2014 earnings.
28. NON-CONTROLLING INTERESTS ASSETS OF SUBSIDIARIES
IN
NET
Hak Kepentingan Nonpengendali (KNP) atas aset neto Entitas Anak merupakan bagian atas aset neto Entitas Anak yang tidak dapat diatribusikan secara langsung maupun tidak langsung kepada Entitas Induk (Catatan 2).
Non-controlling Interests (NCI) in net assets of Subsidiaries represent the portion of the net assets of the Subsidiaries that are not attributable, directly or indirectly, to the Parent (Note 2).
Hak KNP atas aset neto Entitas Anak terdiri dari:
NCI in net assets of Subsidiaries consist of:
31 Desember/December 31, 2016 PT Bongkar Muat Olah Jasa Trisari Andal PT Pelayaran Tirtamas Express PT Escorindo Stevedoring Saldo akhir
2015
741.815.762 322.485.161 245.220.825
628.659.073 319.559.874 218.256.796
PT Bongkar Muat Olah Jasa Trisari Andal PT Pelayaran Tirtamas Express PT Escorindo Stevedoring
1.309.521.748
1.166.475.743
Ending balance
74
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165
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
29. LABA PER SAHAM
29. EARNINGS PER SHARE The details of earnings per share computation are as follows:
Rincian perhitungan laba per saham adalah sebagai berikut:
Tahun yang Berakhir
Laba Tahun Berjalan yang dapat diatribusikan kepada pemilik entitas induk/ Income for the year attributable to Owners of the Parent Entity
Jumlah Rata - rata Tertimbang Saham/ Weighted Average Number of Outstanding Shares
Laba per Saham Earnings per Share
Years Ended
31 Desember 2016
231.308.338.708
1.141.030.000
203
December 31, 2016
31 Desember 2015
316.970.250.888
1.141.030.000
278
December 31, 2015
Tidak terdapat entitas anak yang secara individu memiliki hak kepentingan nonpengendali yang material. 30. PENDAPATAN JASA
There is no single subsidiary with material noncontrolling interest.
30. SERVICE REVENUES This account consists of revenues from the following:
Akun ini terdiri atas pendapatan sebagai berikut:
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016
2015
Pihak berelasi (Catatan 35) Jasa bongkar muat Pihak ketiga Jasa pelayaran Jasa bongkar muat
35.250.000
-
1.157.715.970.137 597.532.941.864
1.065.158.724.029 655.806.698.282
Related party (Note 35) Stevedoring service Third parties Shipping service Stevedoring service
Total pendapatan jasa
1.755.284.162.001
1.720.965.422.311
Total service revenues
(83.379.145.991)
(99.601.083.071)
Less service revenue net off with related cost of service
1.671.905.016.010
1.621.364.339.240
Net service revenue
Dikurangi pendapatan jasa yang saling dihapuskan dengan beban jasa terkait Pendapatan jasa neto
Tidak ada pendapatan jasa dari satu pelanggan yang melebihi 10% dari total pendapatan jasa pada tahun 2016 dan 2015.
166
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75
No service revenues exceeding 10% of the total service revenues during 2016 and 2015 were earned from a single customer.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
31. BEBAN JASA
31. COST OF SERVICES The details of cost of services are as follows:
Rincian beban jasa adalah sebagai berikut:
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016 Bongkar muat Bahan bakar dan pelumas Penyusutan (Catatan 11) Gaji dan kesejahteraan karyawan Pelabuhan Perbaikan dan pemeliharaan Pelayaran Asuransi Sewa (Catatan 35) Lain-lain Total Dikurangi beban jasa yang saling dihapuskan dengan pendapatan jasa terkait Beban jasa neto
2015
624.469.751.608 260.948.341.240 177.371.835.519 80.014.098.947 54.876.506.705 50.825.795.507 25.206.663.739 15.842.744.647 15.008.126.970 6.665.686.755
558.323.586.075 302.309.044.222 156.072.096.605 62.705.456.393 38.235.671.872 69.715.610.602 31.068.026.542 18.268.953.287 25.175.193.833 5.398.274.770
Stevedoring Fuel and lubricant Depreciation (Note 11) Salaries and employee benefits Port charges Repairs and maintenance Voyage costs Insurance Rent (Note 35) Miscellaneous
1.311.229.551.637
1.267.271.914.201
Total
(83.379.145.991)
(99.601.083.071)
Less cost of services net off with related service revenue
1.227.850.405.646
1.167.670.831.130
Net cost of service
32. BEBAN USAHA
32. OPERATING EXPENSES The details of operating expenses are as follows:
Rincian beban usaha adalah sebagai berikut:
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016 Gaji dan kesejahteraan karyawan Beban sewa (Catatan 35) Keperluan kantor Penyusutan (Catatan 11) Sumbangan dan representasi Perjalanan dinas dan perjalanan Jasa profesional Perbaikan dan pemeliharaan Perijinan Perlengkapan kantor Lain-lain Total
2015
54.780.431.669 17.589.526.663 13.702.552.390 5.086.130.248 4.332.876.085 3.349.255.258 2.669.077.263 2.550.579.716 2.139.624.144 1.354.848.294 2.525.539.672
49.942.250.503 6.192.793.211 13.136.446.127 4.818.505.951 3.570.795.894 2.433.090.980 4.743.063.715 1.835.568.477 5.987.709.104 1.154.134.800 2.812.289.233
Salaries and employee benefits Rent expense (Note 35) Office utilities Depreciation (Note 11) Donation and representation Travelling and transportation Professional fees Repairs and maintenance Licenses Office supplies Others
110.080.441.402
96.626.647.995
Total
76
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
167
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
33. PENDAPATAN KEUANGAN
33. FINANCE INCOME This account represents interest income.
Akun ini merupakan pendapatan bunga. 34. BEBAN KEUANGAN
34. FINANCE COSTS The details of finance costs are as follows:
Rincian beban keuangan adalah sebagai berikut:
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31, 2016
2015
Beban bunga dan beban bank lainnya Beban murabahah (Catatan 21)
78.486.288.144 12.614.060.536
53.139.997.967 17.532.639.853
Interest expense and other bank charges Murabahah expense (Note 21)
Total
91.100.348.680
70.672.637.820
Total
35. SALDO DAN TRANSAKSI PIHAK BERELASI
DENGAN
PIHAK-
35. BALANCES AND RELATED PARTIES
Jumlah/Total
Persentase (%) dari Total Aset/Liabilitas/ Percentage (%) to Total Assets/Liabilities
31 Desember/December 31,
31 Desember/December 31,
2015
2016
2015
Piutang usaha (Catatan 5) Entitas sepengendali PT Temas Suzue Indonesia Utang usaha (Catatan 14) Entitas sepengendali PT Temas Suzue Indonesia
Trade receivables (Note 5) 1.854.320.785
2.459.400.189
0,07521
0,13801
Entity under common control PT Temas Suzue Indonesia
116.460.727
2.775.754
0,00759
0,00029
Trade payables (Note 14) Entity under common control PT Temas Suzue Indonesia
Entitas Induk PT Temas Lestari
1.384.240.000
-
0,09027
-
Parent entity PT Temas Lestari
Total
1.500.700.727
2.775.754
0,09786
0,00029
Total
6,13178
Long-term debt (Note 19) Other payable - current portion Parent entity PT Temas Lestari
Pinjaman jangka panjang (Catatan 19) Utang lain-lain - bagian lancar Entitas Induk PT Temas Lestari
168
WITH
The details of the accounts and the significant transactions entered into with related parties and the description of the relationship with such related parties are as follows:
Rincian dari akun dan transaksi signifikan dengan pihak-pihak berelasi dan penjelasan atas hubungan dengan pihak-pihak berelasi adalah sebagai berikut:
2016
TRANSACTIONS
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
44.000.000.000
59.318.500.000
77
2,86936
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 35. SALDO DAN TRANSAKSI PIHAK BERELASI (lanjutan)
DENGAN
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
PIHAK-
35. BALANCES AND TRANSACTIONS RELATED PARTIES (continued)
Jumlah/Total
Persentase (%) dari Total Pendapatan/Beban Percentage (%) to Total Revenue/Expenses
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31,
Tahun yang berakhir pada tanggal 31 Desember/ Year ended December 31,
2016
2015
2016
WITH
2015
Pendapatan jasa Entitas sepengendali PT Temas Suzue Indonesia
35.250.000
-
0,00211
-
Cost of services Entity under common control PT Temas Suzue Indonesia
Beban jasa Entitas sepengendali PT Temas Suzue Indonesia
291.826.600
40.689.000
0,02381
0,00348
Cost of services Entity under common control PT Temas Suzue Indonesia
Personil manajemen kunci Harto Khusumo Faty Khusumo Ganny Zheng
434.730.000 92.888.880 61.111.120
1.159.280.000 456.000.000 300.000.000
0,03566 0,00762 0,00501
0,09928 0,03905 0,02569
Key management personnel Harto Khusumo Harto Khusumo Ganny Zheng
Total
588.730.000
1.915.280.000
0,04829
0,16402
Total Operating expenses Parent entity PT Temas Lestari Key management personnel Harto Khusumo
Beban usaha Entitas induk PT Temas Lestari Personil manajemen kunci Harto Khusumo
16.368.000.000
7.548.000.000
13,17170
7,81151
263.280.000
235.800.000
0,21187
0,24403
Ganny Zheng Total
39.738.564
456.000.000
0,03198
0,47192
16.671.018.564
8.239.800.000
13,41555
8,52746
Perusahaan mengadakan perjanjian sewa dengan pihak-pihak berelasi dengan rincian sebagai berikut:
Pemilik/ Owner Harto Khusumo
Ganny Zheng
Penyewa/ Tenant Perusahaan/ Company
Perusahaan/ Company
Faty Khusumo
Perusahaan/ Company
Temas Lestari
Kelompok usaha/ Group
Ganny Zheng Total
The Company has lease agreements with related parties, with details as follows:
Aset yang disewakan/ Leased property Tanah seluas 28.982 m2 di Desa Parangloe, Makassar/ Land with an area of 28,982 m2 in Parangloe Village, Makassar
Beban sewa per bulan/ Monthly rental fee 2016
2015
108.682.500
96.606.667
Ruang gedung di Jalan Tambang Puspita, Jakarta/ Building space at Jalan Tambang Puspita, Jakarta
28.320.000
19.448.333
Ruang gedung di Jalan Sultan Abdulah No. 75, Tallo, Makassar/Building space at Jalan Sultan Abdulah No. 75, Tallo, Makassar
12.500.000
12.500.000
Ruang gedung di Pekanbaru, Riau/ Building space in Pekanbaru, Riau
4.967.321
3.166.667
Tanah seluas 5.000 m2 di Bitung, Sulawesi/ Land with an area of 5,000 m2 in Bitung, Sulawesi
5.092.592
4.166.667
7.740.740
6.333.333
12.870.370
11.583.333
1.452.000.000
1.320.000.000
Tanah seluas 7.600 m2 di Bitung, Sulawesi/ Land with an area of 7,600 m2 in Bitung, Sulawesi Ruang kantor seluas 537 m2 di Jayapura/ Office space with an area of 537 m2 in Jayapura Ruang gedung di Jalan Yos Sudarso, Jakarta/ Building space at Jalan Yos Sudarso, Jakarta
78
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
169
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 35. SALDO DAN TRANSAKSI PIHAK BERELASI (lanjutan)
DENGAN
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
PIHAK-
Sifat hubungan dan rincian transaksi Kelompok Usaha dengan pihak-pihak berelasi adalah sebagai berikut:
170
35. BALANCES AND TRANSACTIONS RELATED PARTIES (continued)
WITH
The nature of the relationship and the details of the Group’s transactions with the related parties are as follows:
No a.
Pihak-Pihak Berelasi/ Related Parties PT Temas Suzue Indonesia
Sifat Relasi/ Relationship Entitas sepengendali/ Entity under common control
Sifat Saldo Akun/Transaksi/ Nature of Account Balances/Transactions Sewa-menyewa untuk menunjang kegiatan usaha utama Kelompok Usaha/Rental to support the Group’s main business activities
b.
PT Temas Lestari
Entitas Induk/Parent entity
Perbaikan dan pemeliharaan/Repairs and maintenance, Utang lain-lain/Other payables
c.
Harto Khusumo
Sewa/Rent
d.
Ganny Zheng
e.
Faty Khusumo
Personil manajemen kunci/Key management personnel Personil manajemen kunci/Key management personnel Personil manajemen kunci/Key management personnel
Sewa/Rent
Sewa/Rent
Manajemen kunci merupakan komisaris dan direksi Perusahaan. Total gaji dan kompensasi lainnya dari manajemen kunci masing-masing adalah sekitar Rp4,9 miliar dan Rp4,4 miliar untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2016 dan 2015, yang semuanya merupakan imbalan kerja jangka pendek.
Key management represents the Company’s commissioners and directors. Total salaries and other compensation benefits of key management amounted to approximately Rp4.9 billion and Rp4.4 billion for the years ended December 31, 2016 and 2015, respectively, all of which were short-term benefits.
Transaksi dilakukan berdasarkan persyaratan yang disetujui oleh kedua belah pihak, di mana persyaratan tersebut mungkin tidak sama dengan transaksi lain yang dilakukan dengan pihak-pihak yang tidak berelasi.
The transactions are made based on terms agreed by the parties, while such terms may not be the same as those for transactions with unrelated parties.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
79
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
36. INFORMASI SEGMEN
36. SEGMENT INFORMATION
Informasi segmen di bawah ini dilaporkan berdasarkan informasi yang digunakan oleh manajemen untuk mengevaluasi kinerja setiap segmen usaha dan di dalam mengalokasikan sumber daya.
The following segment information is reported based on the information used by management in evaluating the performance of each business segment and in determining the allocation of resources.
Kelompok Usaha terutama mengklasifikasikan kegiatan usahanya menjadi jasa pelayaran dan jasa bongkar muat.
The Group primarily classifies its business activities into shipping services and stevedoring services.
Seluruh transaksi antar segmen telah dieliminasi. Informasi konsolidasian menurut segmen usaha sebagai segmen primer adalah sebagai berikut:
All inter-segment transactions have been eliminated. Consolidated information based on business segment as the primary segment is as follows:
Tahun yang berakhir pada tanggal 31 Desember 2016/ Year ended December 31, 2016
Pendapatan jasa Pendapatan jasa Pendapatan jasa saling dihapuskan dengan beban jasa terkait
Jasa pelayaran/ Shipping
Jasa bongkar muat/ Stevedoring
Eliminasi/ Elimination
Konsolidasi/ Consolidated
1.177.345.970.137
889.535.447.342
(311.597.255.478)
1.755.284.162.001
-
(83.379.145.991)
-
(83.379.145.991)
Service revenues Service revenues Service revenues net off with related cost of services
Pendapatan jasa neto
1.177.345.970.137
806.156.301.351
(311.597.255.478)
1.671.905.016.010
Beban jasa
(641.150.629.271)
(980.500.051.364)
310.421.128.998
(1.311.229.551.637)
Cost of services
83.379.145.991
Cost of services net off with related services
Beban jasa yang saling dihapuskan dengan pendapatan jasa terkait Beban jasa neto Hasil segmen - laba bruto Beban usaha Laba pelepasan aset Penghasilan (beban) operasi lain Laba usaha
-
83.379.145.991
-
(641.150.629.271)
(897.120.905.373)
310.421.128.998
(1.227.850.405.646)
Net service revenues
Net cost of services
536.195.340.866 (100.718.272.481) 2.672.501.813 (13.398.439.062)
(90.964.604.022) (9.362.168.921) (18.262.569.952)
(1.176.126.480) (1.138.349.169)
444.054.610.364 (110.080.441.402) 2.672.501.813 (32.799.358.183)
424.751.131.136
(118.589.342.895)
(2.314.475.649)
303.847.312.592
Income from operations
12.861.501.047 -
9.057.492.012 1.132.880.343
Gain (loss) on foreign exchange - net Finance income
-
(226.576.069) 9.385.875.850 (91.100.348.680) (14.313.248.487) 13.737.761.127
Final tax on interest income Gain on fair value Finance costs Final tax Income tax benefit (expense)
10.547.025.398
231.521.148.688
Income for the year
2.525.662.339.789 1.530.986.623.552 938.833.090.936 182.457.965.767
Other Information Segment assets Segment liabilities Acquisitions of fixed assets Depreciation expense
Laba (rugi) selisih kurs - neto Pendapatan keuangan Pajak final atas pendapatan bunga Laba atas nilai wajar Beban keuangan Pajak final Manfaat (beban) pajak penghasilan
(3.560.303.422) 803.800.581
(243.705.613) 329.079.762
(160.760.116) 8.787.211.582 (82.896.819.188) (14.313.248.487) 35.517.311.878
(65.815.953) 598.664.268 (8.203.529.492)
Laba tahun berjalan
368.928.323.964
(147.954.200.674)
Informasi Lainnya Aset segmen Liabilitas segmen Perolehan aset tetap Beban penyusutan
2.573.403.683.145 1.827.100.644.585 845.720.129.796 153.360.209.694
326.879.614.455 181.376.090.005 81.353.379.286 27.921.629.595
(21.779.550.751)
80
(374.620.957.811) (477.490.111.038) 11.759.581.854 1.176.126.478
Segment income - gross profit Operating expenses Gain on disposal of fixed assets Other operating income (loss)
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
171
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
36. INFORMASI SEGMEN (lanjutan)
36. SEGMENT INFORMATION (continued) Tahun yang berakhir pada tanggal 31 Desember 2015/ Year ended December 31, 2015
Pendapatan jasa Pendapatan jasa
Jasa pelayaran/ Shipping
Jasa bongkar muat/ Stevedoring
Eliminasi/ Elimination
Konsolidasi/ Consolidated
1.567.377.906.737
383.211.435.220
(229.623.919.646)
1.720.965.422.311
Service revenues Service revenues
(99.601.083.071)
Service revenues net off with related cost of services Net service revenues
Pendapatan jasa saling dihapuskan dengan beban jasa terkait
-
(99.601.083.071)
Pendapatan jasa neto
1.567.377.906.737
Beban jasa
(1.191.853.338.153)
Beban jasa yang saling dihapuskan dengan pendapatan jasa terkait Beban jasa neto
-
283.610.352.149
(229.623.919.646)
1.621.364.339.240
(304.721.259.190)
229.302.683.142
(1.267.271.914.201)
Cost of services
99.601.083.071
Cost of services net off with related services
99.601.083.071
(1.191.853.338.153)
(205.120.176.119)
Hasil segmen - laba bruto Beban usaha Laba pelepasan aset Rugi penurunan nilai aset Penghasilan operasi lain
375.524.568.584 (85.072.843.465) (8.057.339.645) (10.980.005.000) 40.739.315.740
78.490.176.030 (11.553.804.530) 33.389.571.173 (2.836.570.204)
Laba usaha
312.153.696.214
97.489.372.469
4.058.092.868 933.829.986
-
(59.838.555) 253.995.654
229.302.683.142
(1.167.670.831.130)
Net cost of services
(321.236.504) (1.322.918.647) -
453.693.508.110 (96.626.647.995) 24.009.312.881 (10.980.005.000) 37.902.745.536
(1.644.155.151)
407.998.913.532
(24.634.169.683) -
(20.635.915.370) 1.187.825.640
Gain (loss) on foreign exchange - net Finance income
(237.565.128) (70.672.637.820) (13.164.302.705) 12.697.817.092
Final tax on interest income Finance costs Final tax Income tax benefit (expense)
Segment income - gross profit Operating expenses Gain on disposal of fixed assets Loss on impairment of asset Other operating income Income from operations
Laba (rugi) selisih kurs - neto Pendapatan keuangan Pajak final atas pendapatan bunga Beban keuangan Pajak final Manfaat (beban) pajak penghasilan
(186.765.997) (59.775.574.737) (13.164.302.705) 24.634.170.134
(50.799.131) (10.897.063.083) (11.936.353.042)
Laba tahun berjalan
268.653.145.763
74.799.314.312
(26.278.324.834)
317.174.135.241
Income for the year
Informasi Lainnya Aset segmen Liabilitas segmen Perolehan aset tetap Beban penyusutan
2.169.834.793.205 1.248.468.784.693 337.935.818.582 127.575.033.479
260.255.225.580 506.705.175.076 18.325.833.024 32.994.332.576
(648.029.143.596) (787.778.845.382) 321.236.501
1.782.060.875.189 967.395.114.387 356.261.651.606 160.890.602.556
Other Information Segment assets Segment liabilities Acquisitions of fixed assets Depreciation expense
-
Informasi menurut segmen geografis adalah sebagai berikut:
Information based on geographical segment follows:
a.
a. Service Revenues
Pendapatan Jasa
Tahun yang berakhir pada tanggal 31 Desember 2016/ Year ended December 31, 2016 Jasa pelayaran/ Shipping
Jasa bongkar muat/ Stevedoring
Eliminasi/ Elimination
Konsolidasi/ Consolidated
Pendapatan jasa Dalam negeri Luar negeri
1.177.345.970.137 -
806.156.301.351 -
(311.597.255.478) -
1.671.905.016.010 -
Service revenues Domestic Overseas
Total pendapatan jasa segmen
1.177.345.970.137
806.156.301.351
(311.597.255.478)
1.671.905.016.010
Total segment service revenues
Tahun yang berakhir pada tanggal 31 Desember 2015/ Year ended December 31, 2015
172
Jasa pelayaran/ Shipping
Jasa bongkar muat/ Stevedoring
Eliminasi/ Elimination
Konsolidasi/ Consolidated
Pendapatan jasa Dalam negeri Luar negeri
1.567.377.906.737 -
383.211.435.220 -
(229.623.919.646) -
1.720.965.422.311 -
Service revenues Domestic Overseas
Total pendapatan jasa segmen
1.567.377.906.737
383.211.435.220
(229.623.919.646)
1.720.965.422.311
Total segment service revenues
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
81
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
36. INFORMASI SEGMEN (lanjutan) b.
36. SEGMENT INFORMATION (continued) b. Assets
Aset
31 Desember/December 31,
Jasa pelayaran Dalam negeri Luar negeri Jasa bongkar muat Dalam negeri Luar negeri Total Eliminasi
2016
2015
2.512.706.582.910 545.618.224
2.169.834.793.205 -
326.879.614.455 -
259.625.181.147 630.044.433
Shipping Domestic Overseas Stevedoring Domestic Overseas
2.840.131.815.589 2.430.090.018.785 (374.620.957.811) (648.029.143.596)
Total Elimination
2.465.510.857.778 1.782.060.875.189
37. PERJANJIAN DAN IKATAN PENTING
37. SIGNIFICANT COMMITMENTS
AGREEMENTS
AND
a.
Perusahaan menandatangani berbagai perjanjian, berikut dengan perubahannya, dengan PT Pelabuhan Indonesia (Persero) (“Pelindo”) I, II, III dan IV, dimana Pelindo setuju untuk menyediakan jasa pelayanan kapal, jasa barang, sewa alat, peti kemas, jasa penyimpanan, listrik dan sebagainya. Berdasarkan perjanjian tersebut, Perusahaan diharuskan untuk menempatkan sejumlah uang di dalam rekening tertentu untuk dijadikan jaminan atas pembayaran. Rekening yang di gunakan sebagai jaminan tersebut disajikan sebagai bagian dari “Aset Keuangan Lancar Lainnya” (Catatan 7). Sampai dengan tanggal penyelesaian laporan keuangan konsolidasian, perjanjian tersebut masih berlaku.
a. The Company entered into various agreements, together with their amendments, with PT Pelabuhan Indonesia (Persero) (“Pelindo”) I, II, III and IV, whereby Pelindo agreed to provide ship services, service of goods, equipment for lease, containers, storage service, electricity and others. Based on the agreements, the Company is required to put some amounts in a certain account to be used as collateral for the payment of the services. The account which is used as collateral is presented as part of “Other Current Financial Assets” (Note 7). As of the completion date of the consolidated financial statements, the agreements are still valid.
b.
Pada tanggal 3 Agustus 2016, Perusahaan memperoleh fasilitas bank garansi dari PT Bank Mandiri (Persero) Tbk dengan jumlah pagu awal sebesar Rp11.000.000.000 sebagai jaminan pembayaran atas pembelian bahan bakar kapal dan pelumas dari PT Pertamina (Persero) serta perbaikan mesin dan pembelian suku cadang. Jaminan atas penerbitan bank garansi adalah setara dengan 5% dari bank garansi yang digunakan.
b. On Augusut 3, 2016, the Company obtained a bank guarantee facility from PT Bank Mandiri (Persero)Tbk with initial limit amounting to Rp11,000,000,000 to be used as a guarantee for the purchase of fuel and lubricant oil from PT Pertamina (Persero), and machine repair and purchase of spareparts. The security deposit for the issuance of a bank guarantee was equal to 5% of the bank guarantee used.
c.
Pada tanggal 1 Juni 2016, Perusahaan mengadakan perjanjian dengan Lianyungang Wuzhou Shipping Industry Co., Ltd. untuk pengadaan kapal WZ-108 berdasarkan kontrak GWS16060103. Nilai kontrak tersebut sebesar CNY23.800.000.
c.
82
On June 1, 2016, the Company made arrangement with Lianyungang Wuzhou Shipping Industry Co., Ltd. untuk pengadaan kapal WZ-108 berdasarkan kontrak GWS16060103. The contract fee is CNY23,800,000.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
173
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
37. PERJANJIAN DAN IKATAN PENTING (lanjutan)
37. SIGNIFICANT AGREEMENTS COMMITMENTS (continued)
On June 1, 2016, the Company made arrangement with Lianyungang Wuzhou Shipping Industry Co., Ltd. untuk pengadaan kapal WZ-109 berdasarkan kontrak GWS16060104. The contract fee is CNY23,800,000.
Pada tanggal 1 Juni 2016, Perusahaan mengadakan perjanjian dengan Lianyungang Wuzhou Shipping Industry Co., Ltd. untuk pengadaan kapal WZ-109 berdasarkan kontrak GWS16060104. Nilai kontrak tersebut sebesar CNY23.800.000. 38. ASET DAN LIABILITAS KEUANGAN
AND
38. FINANCIAL ASSETS AND LIABILITIES
Tabel berikut menyajikan nilai tercatat, yang mendekati nilai wajar, dari instrumen keuangan Kelompok Usaha:
The following table sets out the carrying values, which approximate the fair values, of the Group’s financial instruments:
31 Desember/December 31, 2016 Aset Keuangan Kas dan setara kas Piutang usaha Pihak ketiga - neto Pihak berelasi Piutang lain - lain Aset keuangan lancar lainnya
32.967.646.232
24.430.338.156
134.699.876.942 1.854.320.785 3.446.847.962 870.460.896
172.707.435.021 2.459.400.189 6.648.655.466 913.671.550
Financial Assets Cash and cash equivalents Trade receivables Third parties - net Related party Other receivables Other current financial assets
Total Aset Keuangan
173.839.152.817
207.159.500.382
Total Financial Assets
156.500.000.000
85.800.000.000
Liabilitas Keuangan Utang bank jangka pendek Utang usaha Pihak ketiga Pihak-pihak berelasi Utang lain-lain Beban akrual Pinjaman jangka panjang Utang lain-lain - pihak berelasi Utang bank
106.706.790.609 1.500.700.727 161.574.813 10.204.874.599
92.529.990.088 2.775.754 535.819.094 10.270.705.550
44.000.000.000 692.570.358.801
59.318.500.000 321.942.777.537
Utang lembaga keuangan Utang sewa pembiayaan
175.130.261.850 56.255.586.099
129.994.311.209 86.233.685.570
Utang transaksi syariah Utang pembiayaan konsumen
241.854.606.232 455.424.156
147.063.074.777 1.116.315.587
Financial Liabilities Short-term bank loans Trade payables Third parties Related parties Other payables Accrued expenses Long-term debts Other payables - related party Bank loans Loan payable to financial institution Finance lease liabilities Obligation under syariah transactions Consumer financing payables
1.485.340.177.886
934.807.955.166
Total Financial Liabilities
Total Liabilitas Keuangan
174
2015
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
83
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
38. ASET DAN LIABILITAS KEUANGAN (lanjutan)
38. FINANCIAL (continued)
ASSETS
AND
LIABILITIES
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:
Nilai wajar adalah harga yang akan diterima untuk menjual suatu aset atau harga yang akan dibayarkan untuk mengalihkan suatu liabilitas dalam transaksi teratur antara pelaku pasar pada tanggal pengukuran. Pengukuran nilai wajar didasarkan pada anggapan bahwa transaksi untuk menjual suatu aset atau mengalihkan suatu liabilitas yang berlangsung pada: • Pasar utama untuk aset atau kewajiban, atau • Dengan tidak adanya pasar utama, di pasar yang paling menguntungkan untuk aset atau kewajiban. Pasar utama atau pasar yang paling menguntungkan harus dapat diakses oleh Kelompok Usaha. Nilai wajar aset atau kewajiban diukur dengan menggunakan asumsi bahwa pelaku pasar akan menggunakan ketika harga aset atau kewajiban, dengan asumsi bahwa pelaku pasar bertindak dalam kepentingan terbaik ekonomi mereka.
In the principal market for the asset or liability, or • In the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible to the Group. •
The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.
Semua aset dan liabilitas yang nilai wajarnya diukur atau diungkapkan dalam laporan keuangan dikategorikan dalam hirarki nilai wajar berdasarkan input terendah yang mempunyai pengaruh yang signifikan terhadap pengukuran nilai wajar secara keseluruhan sebagai berikut: • Tingkat 1: Harga kuotasian (tidak disesuaikan) dalam pasar aktif untuk aset atau liabilitas sejenis. • Tingkat 2:Teknik-teknik valuasi dimana input terendah yang mempunyai pengaruh yang signifikan atas nilai wajar yang dapat diobservasi baik secara langsung maupun tidak langsung. • Tingkat 3:Teknik-teknik valuasi dimana input yang terendah mempunyai pengaruh yang signifikan atas nilai wajar yang tidak diobservasi.
84
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: • Level 1:Quoted (unadjusted) market prices in active markets for identical assets or liabilites. • Level 2:Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable. • Level 3:Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
175
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
38. ASET DAN LIABILITAS KEUANGAN (lanjutan)
38. FINANCIAL (continued)
Semua instrumen keuangan yang disajikan di dalam laporan posisi keuangan konsolidasian dicatat pada biaya perolehan diamortisasi. Metode-metode dan asumsi-asumsi di bawah ini digunakan untuk mengestimasi nilai wajar untuk masing-masing kelas instrumen keuangan: a. Aset keuangan lancar dan liabilitas keuangan jangka pendek Nilai wajar aset keuangan lancar dan liabilitas keuangan jangka pendek yang akan jatuh tempo dalam waktu satu tahun atau kurang diasumsikan sama dengan nilai tercatatnya karena bersifat jangka pendek. b. Aset keuangan tidak lancar dan liabilitas keuangan jangka panjang Nilai wajar dari aset keuangan tidak lancar dan liabilitas keuangan jangka panjang selain kewajiban sewa pembiayaan diasumsikan sama dengan nilai tunai yang akan diterima atau dibayarkan karena saat jatuh temponya tidak dinyatakan dalam kontrak-kontrak terkait, sehingga tidak memungkinkan untuk menentukan kapan aset keuangan dan liabilitas keuangan jangka panjang tersebut akan direalisasi dan dilunasi. Estimasi nilai wajar dari utang sewa pembiayaan didasarkan pada nilai diskonto dari arus kas masa datang yang disesuaikan untuk mencerminkan risiko kredit Kelompok Usaha dan menggunakan suku bunga bebas risiko untuk instrumen yang serupa.
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
85
ASSETS
AND
LIABILITIES
All financial instruments presented in the consolidated statement of financial position are carried at amortized cost. The following methods and assumptions were used to estimate the fair value of each class of financial instruments: a. Short-term financial assets and liabilities The fair values of current financial assets and liabilities with maturities of one year or less are assumed to be the same as their carrying amounts due to their short-term nature. b. Non-current financial assets and liabilities The fair values of non-current financial assets and liabilities other than obligations under finance lease are assumed to be the same as the cash amount that will be received or paid due to the fact that their maturities are not stated in the related contracts, therefore it is not possible to determine when the financial assets and financial liabilities will be realized and settled, respectively. The estimated fair value of obligations under finance lease is based on discounted value of future cash flows adjusted to reflect the Group’s own credit risk and using risk-free rates for similar instruments.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
39. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO KEUANGAN
39. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
Risiko utama dari instrumen keuangan Kelompok Usaha adalah risiko tingkat suku bunga, risiko mata uang asing, risiko kredit, risiko likuiditas, dan risiko harga komoditas. Direksi menelaah dan menyetujui kebijakan untuk mengelola masing-masing risiko, sebagaimana dijelaskan secara rinci sebagai berikut:
The main risks arising from the Group’s financial instruments are interest rate risk, foreign currency risk, credit risk, liquidity risk, and commodity price risk. The Board of Directors reviews and approves the policies for managing each of these risks, which are described in more detail as follows:
Manajemen risiko
Risk management
a.
a.
Risiko tingkat suku bunga
Interest rate risk
Risiko tingkat suku bunga Kelompok Usaha terutama timbul dari pinjaman untuk tujuan modal kerja dan investasi. Saat ini, Kelompok Usaha tidak mempunyai kebijakan formal lindung nilai atas risiko tingkat suku bunga.
The Group’s interest rate risk mainly arises from loans for working capital and investment purposes. Currently, the Group does not have a formal hedging policy for interest rate exposures.
Untuk kredit modal kerja dan kredit investasi, Kelompok Usaha berusaha mengurangi risiko tingkat suku bunganya dengan cara selalu melakukan pengawasan terhadap tingkat suku bunga yang berlaku di pasar.
For working capital and investment loans, the Group may seek to mitigate its interest rate risk by continuously monitoring the interest rates in the market.
Pada tanggal 31 Desember 2016, jika tingkat suku bunga pinjaman lebih tinggi/lebih rendah sebesar 50 basis poin dengan semua variabel konstan, laba sebelum pajak penghasilan untuk tahun yang berakhir pada tanggal 31 Desember 2016 akan lebih rendah/tinggi sebesar Rp454 juta terutama sebagai akibat lebih tinggi/lebih rendah biaya bunga atas pinjaman dengan tingkat bunga mengambang.
As at December 31, 2016, had the interest rates of the loans and borrowings been 50 basis points higher/lower with all other variables held constant, income before income tax for the year ended December 31, 2016 would have been Rp454 million lower/higher, mainly as a result of higher/lower interest charge on the loans and borrowings with floating interest rates. b.
b. Risiko mata uang asing
Foreign currency risk
Mata uang pelaporan Kelompok Usaha adalah rupiah. Kelompok Usaha menghadapi risiko nilai tukar mata uang asing karena biaya dari beberapa pembelian utamanya dalam mata uang asing, seperti dolar Amerika Serikat, euro Eropa, dolar Singapura dan yen Jepang. Apabila pembelian Kelompok Usaha di dalam mata uang selain rupiah, dan tidak seimbang dalam hal kuantitas/jumlah dan/atau pemilihan waktu, Kelompok Usaha harus menghadapi risiko mata uang asing.
The Group’s reporting currency is the rupiah. The Group faces foreign exchange risk as the costs of certain key purchases are denominated in foreign currencies, such as U.S. dollar, European euro, Singapore dollar, and Japanese yen. To the extent that the purchases of the Group are denominated in currencies other than the rupiah, and are not evenly matched in terms of quantity/volume and/or timing, the Group has exposure to foreign currency risk.
Kelompok Usaha tidak mempunyai kebijakan lindung nilai yang formal untuk laju pertukaran mata uang asing. Namun demikian, Perusahaan menjaga transaksi dan saldo mata uang asing pada level minimal untuk meminimalkan risiko mata uang asing.
The Group does not have any formal hedging policy for foreign exchange exposure. However, the Company maintains transactions and balances in foreign currencies at a minimum level in order to minimize foreign currency risk exposure.
86
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
177
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
39. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO KEUANGAN (lanjutan)
39. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (continued)
Manajemen risiko (lanjutan)
Risk management (continued)
b. Risiko mata uang asing (lanjutan)
b.
As of December 31, 2016, had the exchange rate of the rupiah against the U.S. dollar depreciated/appreciated by 10%, with all other variables held constant, income before income tax for the year ended December 31, 2016 would have been Rp26.5 billion lower/higher, mainly as a result of foreign exchange losses/gains on the translation of the net liabilities denominated in U.S. dollar.
Pada tanggal 31 Desember 2016, jika nilai tukar rupiah terhadap dolar AS melemah/menguat sebanyak 10% dengan semua variabel konstan, laba sebelum pajak penghasilan untuk tahun yang berakhir pada tanggal 31 Desember 2016 akan lebih rendah/tinggi sebesar Rp26,5 milyar, terutama sebagai akibat kerugian/keuntungan penjabaran mata uang atas liabilitas neto dalam dolar AS. c.
178
Foreign currency risk (continued)
c.
Risiko kredit
Credit risk
Risiko kredit yang dihadapi oleh Kelompok Usaha berasal dari kredit yang diberikan kepada pelanggan dan penempatan deposito di bank.
The Group is exposed to credit risk arising from the credit granted to its customers and deposits placed in banks.
Untuk mengurangi risiko ini, Kelompok Usaha memiliki kebijakan untuk memastikan bahwa seluruh jasa hanya diberikan kepada pelanggan yang dapat dipercaya dan terbukti mempunyai catatan kredit yang baik. Ini merupakan kebijakan Kelompok Usaha dimana semua pelanggan yang akan melakukan transaksi secara kredit harus melalui prosedur verifikasi kredit.
To mitigate this risk, the Group has policies in place to ensure that all services provided are made only to creditworthy customers with proven track record or good credit history. It is the Group’s policy that all customers who wish to trade on credit are subject to credit verification procedures.
Sebagai tambahan, saldo piutang usaha dipantau secara terus menerus untuk mengurangi kemungkinan piutang yang tidak tertagih.
In addition, trade receivable balances are monitored on an ongoing basis to reduce the exposure to bad debts.
Ketika pelanggan tidak mampu melakukan pembayaran dalam jangka waktu yang telah diberikan, Kelompok Usaha akan menghubungi pelanggan untuk menindaklanjuti piutang yang telah lewat jatuh tempo. Jika pelanggan tidak melunasi piutang yang telah jatuh tempo dalam jangka waktu yang telah ditentukan, Kelompok Usaha akan menindaklanjuti melalui jalur hukum. Tergantung pada penilaian Kelompok Usaha, penyisihan khusus mungkin dibuat jika utang dianggap tidak tertagih. Untuk mengurangi risiko kredit, Kelompok Usaha akan menghentikan seluruh pelayanan jasa kepada pelanggan jika terjadi keterlambatan dan/atau gagal bayar.
When a customer fails to make payment within the credit term granted, the Group contacts the customer to act on the overdue receivable. If the customer does not settle the overdue receivable within a reasonable time, the Group proceeds to commence legal proceedings. Depending on the Group’s assessment, specific provisions may be made if the debt is deemed uncollectible. To mitigate credit risk, the Group ceases to provide services to the customer in the event of late payment and/or default.
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87
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
39. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO KEUANGAN (lanjutan)
39. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (continued) Risk management (continued)
Manajemen risiko (lanjutan) c.
c.
Risiko kredit (lanjutan)
Credit risk (continued)
Untuk mengurangi risiko gagal bayar Bank atas penempatan deposito, Kelompok Usaha memiliki kebijakan hanya akan menempatkan deposito pada bank yang memiliki reputasi yang baik.
To mitigate the default risk of banks on the Group’s deposits, the Group has policies to place its funds only in banks with good reputation.
Tabel di bawah ini menunjukkan risiko kredit maksimum untuk komponen-komponen dari laporan posisi keuangan konsolidasian.
The table below shows the maximum exposure to credit risk on the components of the consolidated statement of financial position.
Maximum Exposure Bruto/Gross (1) Pinjaman yang diberikan dan piutang: Kas dan setara kas Piutang usaha Pihak ketiga - neto Pihak berelasi Piutang lain-lain Aset keuangan lancar lainnya
134.699.876.942 1.854.320.785 3.446.847.962 870.460.896
Loans and receivables: Cash and cash equivalents Trade receivables Third parties - net Related party Other receivables Other current financial assets
Total
173.839.152.817
Total
(1)
d.
32.967.646.232
(1)
Kelompok Usaha tidak memiliki agunan yang ditahan maupun perjanjian saling hapus dengan debitur.
The Group does not hold any collateral nor does it have any offsetting arrangements with its debtors.
d. Liquidity risk
Risiko likuiditas Kelompok Usaha mengelola profil likuiditasnya untuk dapat mendanai pengeluaran modalnya dan membayar utang yang jatuh tempo dengan menjaga kecukupan kas, dan ketersediaan pendanaan melalui jumlah fasilitas kredit berkomitmen yang cukup.
The Group manages its liquidity profile to be able to finance its capital expenditure and service its maturing debts by maintaining sufficient cash, and the availability of funding through an adequate amount of committed credit facilities.
Kelompok Usaha secara rutin mengevaluasi proyeksi arus kas dan arus kas aktual dan terus menerus menjaga kestabilan hari pembayaran utang dan penerimaan piutangnya.
The Group regularly evaluates its projected and actual cash flow information and continuously maintains its payables and receivables days’ stability.
Tabel di bawah ini merupakan jadwal jatuh tempo liabilitas keuangan Kelompok Usaha berdasarkan pembayaran kontraktual semula yang tidak didiskontokan:
The table below summarizes the maturity profile of the Group’s financial liabilities based on original contractual undiscounted amounts to be paid:
88
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
179
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
39. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO KEUANGAN (lanjutan)
39. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (continued) Risk management (continued)
Manajemen risiko (lanjutan) d.
d. Liquidity risk (continued)
Risiko likuiditas (lanjutan) Kurang dari/ Below 1 tahun/year
3-5 tahun/years
156.500.000.000
-
-
-
-
-
156.500.000.000
Utang usaha/Trade payables
108.207.491.336
-
-
-
-
-
108.207.491.336
161.574.813
-
-
-
-
-
161.574.813
10.204.874.599
-
-
-
-
-
10.204.874.599
183.798.741.082
161.401.994.141
129.298.474.141
199.340.281.610
23.460.600.000
(2.414.626.166)
694.885.464.808
47.391.160.528
43.899.200.742
44.200.690.638
39.639.209.942
-
-
175.130.261.850
55.114.084.724
47.507.516.923
41.743.201.698
42.570.890.193
60.855.207.238
(449.931.059)
247.340.969.717
44.000.000.000
-
-
-
-
-
44.000.000.000
30.616.151.773
25.639.434.326
-
-
-
-
56.255.586.099
455.424.156
-
-
-
-
-
455.424.156
636.449.503.011
278.448.146.132
215.242.366.477
281.550.381.745
84.315.807.238
(2.864.557.225)
1.493.141.647.378
Beban akrual/Accrued expenses Pinjaman jangka panjang/Long-term debts Utang bank/Bank loans Utang lembaga keuangan/Loan payable to financial institution Utang transaksi syariah/Obligation under syariah transactions Utang lain-lain - pihak berelasi PT Temas Lestari/Other payables - related party PT Temas Lestari Utang sewa pembiayaan/Finance lease liabilities Utang pembiayaan konsumen/Consumer financing payables Total
180
2-3 tahun/years
Utang bank jangka pendek/Short-term bank loans
Utang lain-lain/Other payables
e.
1-2 tahun/years
Nilai tercatat pada tanggal/ Carrying value as of 31 Desember/ December 31, 2016 (excluding fair value)
Biaya transaksi atas utang/ Debt issuance cost
Lebih dari/ Over 5 tahun/years
e. Commodity price risk
Risiko harga komoditas Dampak risiko harga komoditas yang dihadapi Kelompok Usaha terutama sehubungan dengan pembelian bahan bakar. Harga bahan bakar tersebut secara langsung dipengaruhi oleh fluktuasi harga komoditas serta tingkat permintaan dan penawaran di pasar.
The Group’s exposure to commodity price risk relates primarily to the purchase of fuel. The prices of fuel are directly affected by commodity price fluctuations and the level of demand and supply in the market.
Kebijakan Kelompok Usaha untuk meminimalkan risiko yang berasal dari fluktuasi harga komoditas adalah dengan menjaga tingkat persediaan bahan bakar secara optimal untuk meyakinkan operasi yang berkelanjutan.
The Group’s policy is to minimize the risk arising from the fluctuations in commodity prices by maintaining the optimum inventory level of fuel to ensure continuous operations.
Selain itu, Kelompok Usaha juga mengurangi risiko ini dengan selalu melakukan pembandingan harga dari beberapa pemasok untuk mendapatkan harga yang paling menguntungkan.
In addition, the Group may seek to mitigate its risk by doing price comparison from several suppliers to get the most favorable price.
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89
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
39. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO KEUANGAN (lanjutan)
39. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (continued) Capital management
Pengelolaan modal Kelompok Usaha bertujuan mencapai struktur modal yang optimal untuk memenuhi tujuan usaha, di antaranya dengan mempertahankan rasio modal yang sehat, dan maksimalisasi nilai pemegang saham.
The Group aims to achieve an optimal capital structure in pursuit of its business objectives, which include maintaining healthy capital ratios and maximizing stockholder value.
Beberapa instrumen utang bank Perusahaan memiliki persyaratan rasio keuangan maksimum yang harus dipenuhi. Sebagai tambahan, Perusahaan telah memenuhi semua persyaratan modal yang ditetapkan oleh pihak kreditur bank.
Some of the Company’s debt instruments contain covenants that impose maximum leverage ratios. In addition, the Company has complied with all capital requirements by bank creditors.
Ekuitas yang dapat diatribusikan kepada pemilik entitas induk merupakan modal yang dikelola oleh Kelompok Usaha. Tujuan utama pengelolaan modal Kelompok Usaha adalah untuk memastikan pemeliharaan rasio modal yang sehat untuk mendukung usaha dan memaksimalkan nilai pemegang saham.
The equity attributable to the equity holders of the parent is the capital managed by the Group. The primary objective of the Group’s capital management is to ensure that it maintains healthy capital ratios in order to support its business and maximize shareholder value.
Kelompok Usaha mengelola struktur permodalan dan melakukan penyesuaian, berdasarkan perubahan kondisi ekonomi.
The Group manages its capital structure and makes adjustments to it, in light of changes in economic conditions.
40. ASET DAN LIABILITAS DALAM MATA UANG ASING
40. ASSET AND CURRENCIES
LIABILITIES
IN
FOREIGN
The Group has assets and liabilities denominated in foreign currencies. These foreign currencydenominated assets and liabilities are presented using exchange rates as of December 31, 2016 as follows:
Kelompok Usaha memiliki aset dan liabilitas dalam mata uang asing. Aset dan liabilitas dalam mata uang asing disajikan dengan kurs yang berlaku pada tanggal 31 Desember 2016 adalah sebagai berikut:
31 Desember 2016/December 31, 2016 Mata Uang Asing/ Foreign Currencies Aset Kas dan setara kas Piutang usaha-pihak ketiga Piutang lain-lain
US$ Sin$ CNY US$ US$
30.579 4.908 29.654 19.573 119.850
Total aset
90
Setara dengan Rupiah/ Equivalent in Rupiah Assets Cash and cash equivalents
410.853.913 57.435.983 45.634.662 262.978.797 1.610.304.600
Trade receivables - third parties Other receivables
2.387.207.955
Total assets
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
181
INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
40. ASET DAN LIABILITAS DALAM MATA UANG ASING (lanjutan)
40. ASSET AND LIABILITIES CURRENCIES (continued)
IN
FOREIGN
31 Desember 2016/December 31, 2016 Mata Uang Asing/ Foreign Currencies Liabilitas Utang usaha kepada pihak ketiga
Setara dengan Rupiah/ Equivalent in Rupiah
2.248.740 223.921 125.118 6.308.730 86.909 2.500 4.080 3.974 1.124 2.163
30.214.069.028 3.171.070.987 1.163.465.713 728.027.442 168.330.934 41.268.775 7.773.624 6.884.836 1.662.610 290.526.818
US$ US$
13.034.268 4.186.930
175.128.428.980 56.255.590.800
Accrued expenses Long-term debts Loan payable to financial institution Finance lease liabilities
Total liabilitas
267.177.100.547
Total liabilities
Liabilitas neto
264.789.892.592
Net liabilities
Beban akrual Pinjaman jangka panjang Utang lembaga keuangan Utang sewa pembiayaan
The rupiah currency has changed in value based on the middle rates of exchange published by Bank Indonesia as shown below:
Sebagaimana disajikan pada tabel di bawah ini, nilai mata uang rupiah telah mengalami perubahan berdasarkan kurs tengah yang ditetapkan oleh Bank Indonesia: Mata Uang Asing
29 Maret 2017/ March 29, 2017
Poundsterling Inggris (GBP1) Euro (EUR1) Dolar A.S. (US$1) Dolar Singapura (SIN$1) Kroner Denmark (DKK1) Yuan Tiongkok (CNY1) Dolar Hongkong (HKD1) Kroner Swedia (SEK1) Yen Jepang (JPY1)
41. CONTINGENT LIABILITIES AND LITIGATION
Pada tanggal 19 November 2011, Perusahaan telah menyampaikan gugatan kepada PT Multi Diesel Services (“MDS”) melalui Pengadilan Negeri Cibinong dengan No. 24/XI/PMH/LG/11 sehubungan dengan perbuatan melawan hukum yang dilakukan oleh MDS selama perbaikan kapal KM Bahar Mas yang dilakukan pada tahun 2010.
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
England pounds (GBP1) Euro (EUR1) U.S. dollar (US$1) Singapore dollar (SIN$1) Denmark krone (DKK1) Chinese yuan (CNY1) Hongkong dollar (HKD1) Sweden krone (SEK1) Japan yen (JPY1)
Had the assets and liabilities denominated in foreign currencies as of December 31, 2016 been reflected using the above middle rates of exchange as of March 29, 2017, the net foreign currency denominated liabilities, as presented above, would have decreased by approximately Rp2,329,737,692 in terms of rupiah.
41. LIABILITAS KONTINJENSI DAN LITIGASI a.
Foreign Currencies
16.543 14.417 13.323 9.532 1.938 1.933 1.715 1.509 120
Jika aset dan kewajiban dalam mata uang asing pada tanggal 31 Desember 2016 disajikan dengan menggunakan kurs tengah pada tanggal 29 Maret 2017, maka liabilitas neto dalam mata uang asing, sebagaimana yang disajikan di atas, akan turun sekitar Rp2.329.737.692 dalam mata uang rupiah.
182
Liabilities Trade payables to third parties
US$ EUR SIN$ JPY CNY GBP DKK HKD SEK US$
91
a.
On November 19, 2011, the Company filed a claim against PT Multi Diesel Service (“MDS”) in the District Court of Cibinong under case No. 24/XI/PMH/LG/11 in relation to an act against the law committed by MDS during the repair of MV Bahar Mas in 2010.
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain) 41. LIABILITAS (lanjutan)
KONTINJENSI
DAN
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
LITIGASI
41. CONTINGENT LIABILITIES AND LITIGATION (continued)
Pihak MDS dinyatakan telah lalai dalam menyelesaikan pekerjaan tidak tepat waktu dan hasil pengerjaan tidak sesuai dengan kesepakatan dalam kontrak perjanjian antara kedua belah pihak. Akibat dari kelalaian MDS tersebut, Perusahaan telah mengalami kerugian baik material maupun immaterial dengan jumlah estimasi nilai sebesar Rp523.953.460 ditambah dengan US$822.232 dan EUR69.484.
MDS has been declared as negligent for not completing the job order in a timely manner and the work done was not in accordance with the contract agreement between both parties. Due to the neglect of MDS, the Company has suffered both material and immaterial losses amounting to Rp523,953,460 plus US$822,232 and EUR69,484.
Pada tanggal 18 Juli 2012, Pengadilan Negeri Cibinong telah mengeluarkan putusan sehubungan dengan gugatan tersebut dan memutuskan memenangkan sebagian dari pembelaan MDS.
On July 18, 2012, the District Court issued a decision regarding the above claim and decided in favor of MDS with respect to certain claims.
Perusahaan memutuskan untuk melakukan banding keputusan Pengadilan pada tanggal 31 Juli 2012 ke Pengadilan Tinggi Bandung dengan No. 590/Pdt/2012/PT.Bdg.
The Company appealed the Court’s decision on July 31, 2012 to the High Court of Bandung under case No. 590/Pdt/2012/PT.Bdg.
Pada tanggal 7 Januari 2013 melalui putusan No. 590/Pdt.2012/PT.Bdg, Pengadilan Tinggi Bandung memutuskan untuk membatalkan putusan Pengadilan Negeri Cibinong di atas, dan mengadili untuk mengabulkan gugatan Perusahaan untuk sebagian dan menghukum MDS untuk membayar kerugian materiil yang diderita oleh Perusahaan sebesar Rp523.953.460, US$822.232 dan EUR69.484.
On January 7, 2013 by its decision No. 590/Pdt.2012/PT.Bdg, the High Court of Bandung decided to annul the decision of the District Court of Cibinong above, and ruled to favor the Company for the most part and punish MDS to pay material damages suffered by the Company amounting to Rp523,953,460, US$822,232 and EUR69,484.
Atas keputusan Pengadilan Tinggi Bandung tersebut, MDS telah mengajukan permohonan kasasi ke Mahkamah Agung pada tanggal 12 Juli 2013 dengan No.590/Pdt/2012/PT.Bdg.Jo.No.180/Pdt/2011/P N.CBN.
Upon the decision of the Bandung High Court, MDS filed an appeal on July 12, 2013 to the Supreme Court under case No. 590/Pdt/2012/PT.Bdg.Jo.No.180/Pdt/2011/P N.CBN.
Sampai dengan tanggal penyelesaian laporan keuangan konsolidasian, Perusahaan masih menunggu hasil permohonan kasasi dari Mahkamah Agung dan belum mencatat nilai gugatan dalam laporan keuangan konsolidasian.
Until the date of completion of the consolidated financial statements, the Company is still waiting for the result of the appeal from the Supreme Court and has not recorded the claim in the consolidated financial statements.
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Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
183
2016 PERFORMANCE HIGHLIGHTS
INTRODUCTION
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
41. LIABILITAS (lanjutan) b.
KONTINJENSI
DAN
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
LITIGASI
41. CONTINGENT LIABILITIES AND LITIGATION (continued) b.
Pada tahun 2013, Perusahaan melakukan perjanjian pengoperan pemanfaatan lahan TNI AL dengan PT Senopati Samudera Perkasa (SSP). Pada tahun 2014, pihak TNI AL mengeluarkan surat pemberitahuan kepada Perusahaan, bahwa Perusahaan tidak bisa memanfaatkan lahan tersebut sesuai dengan perjanjiannya dengan pihak SSP. Merasa dirugikan, Perusahaan melaporkan SSP atas dugaan tindak pidana penipuan dan penggelapan atas lahan. Penyidik telah menetapkan Setyo Hartono, komisaris SSP, sebagai tersangka dalam kasus ini.
In 2013, the Company entered into an agreement with PT Senopati Samudera Perkasa (SSP) to operate TNI AL lands. In 2014, TNI AL issued a notice to the Company, that the Company cannot use the land in accordance with its agreement with SSP. The Company reported SSP on grounds of criminal fraud and embezzlement over the land. The investigators have established Setyo Hartono, a commissione of SSP, as a suspect in this case.
Until the date of completion of the consolidated financial statements, this case is still under trial in the Court of Surabaya.
Sampai dengan tanggal penyelesaian laporan keuangan konsolidasian, kasus ini masih dalam proses persidangan di Pengadilan Negeri Surabaya. 42. INFORMASI TAMBAHAN ARUS KAS
42. SUPPLEMENTARY INFORMATION
CASH
FLOW
Non-cash activities:
Aktivitas yang tidak mempengaruhi arus kas:
Tahun yang Berakhir pada Tanggal 31 Desember/ Year Ended December 31, Catatan/ Notes
2016 Penambahan aset tetap dengan mengkredit: Utang lembaga keuangan Utang usaha Utang bank jangka panjang Kapitalisasi beban keuangan ke aset tetap
184
Annual Report 2016 PT Pelayaran Tempuran Emas Tbk
2015
91.187.548.583 163.665.057
19 11
100.791.011.673 6.777.077.050
-
19
180.000.000.000
-
11
7.210.180.556
93
Additions to fixed assets credited to: financial institution Trade payables Loan payable to Long-term bank loans Capitalization financing cost to fixed assets
MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
43. STANDAR AKUNTANSI YANG TELAH DISAHKAN NAMUN BELUM BERLAKU EFEKTIF
43. ACCOUNTING STANDARDS ISSUED BUT NOT YET EFFECTIVE
Standar akuntansi dan interpretasi yang telah disahkan oleh Dewan Standar Akuntansi Keuangan (DSAK), tetapi belum berlaku efektif untuk laporan keuangan konsolidasian tahun berjalan diungkapan dibawah ini. Kelompok Usaha bermaksud untuk menerapkan standar tersebut, jika dipandang relevan, saat telah menjadi efektif.
The standards and intepretations that are issued by the Indonesian Financial Accounting Standards Board (DSAK), but not yet effective for current consolidated financial statements are disclosed below. The Group intends to adopt these standards, if applicable, when they become effective.
Berlaku efektif 1 Januari 2017:
Effective on January 1, 2017:
a.
Amandemen PSAK 1: Penyajian Laporan Keuangan tentang Prakarsa Pengungkapan, berlaku efektif 1 Januari 2017. Amandemen ini mengklarifikasi, bukan mengubah secara signifikan, persyaratan PSAK 1, antara lain, mengklarifikasi mengenai materialitas, fleksibilitas urutan sistematis penyajian catatan atas laporan keuangan dan pengidentifikasian kebijakan akuntansi signifikan.
a.
Amendments to PSAK 1: Presentation of Financial Statements on Disclosures Initiative, effective January 1, 2017. These amendments clarify, rather than significantly change, existing PSAK 1 requirements, among others, to clarify the materiality, flexibility as to the order in which they present the notes to financial statements and identification of significant accounting policies.
b.
PSAK 3 (Penyesuaian 2016): Laporan Keuangan Interim, berlaku efektif 1 Januari 2017 dengan penerapan dini diperkenankan. Penyesuaian ini mengklarifikasi bahwa pengungkapan interim yang dipersyaratkan harus dicantumkan dalam laporan keuangan interim atau melalui referensi silang dari laporan keuangan interim seperti komentar manajemen atau laporan risiko yang tersedia untuk pengguna laporan keuangan interim dan pada saat yang sama.
b.
PSAK 3 (2016 Improvement): Interim Financial Reporting, effective January 1, 2017 with earlier application is permitted. This improvement clarifies that the interim disclosures required should be included in the interim financial statements or through crossreferences of the interim financial statements, such as management commentary or risk management report, that available to users of the interim financial statements and should at the same time.
c.
PSAK 24 (Penyesuaian 2016): Imbalan Kerja, berlaku efektif 1 Januari 2017 dengan penerapan dini diperkenankan. Penyesuaian ini mengklarifikasi bahwa pasar obligasi korporasi berkualitas tinggi dinilai berdasarkan denominasi mata uang obligasi tersebut dan bukan berdasarkan negara di mana obligasi tersebut berada.
c.
PSAK 24 (2016 Improvement): Employee Benefits, effective January 1, 2017 with earlier application is permitted. This improvement clarifies that the market of high quality corporate bonds is valued by denominated bonds and not based on the country in which the bonds are.
d.
PSAK 58 (Penyesuaian 2016): Aset Tidak Lancar yang Dimiliki Untuk Dijual dan Operasi yang Dihentikan, berlaku efektif 1 Januari 2017 dengan penerapan dini diperkenankan. Penyesuaian ini mengklarifikasi bahwa perubahan dari satu metode pelepasan ke metode pelepasan lainnya dianggap sebagai rencana awal yang berkelanjutan dan bukan sebagai rencana pelepasan baru. Penyesuaian ini juga mengklarifikasi bahwa perubahan metode pelepasan ini tidak mengubah tanggal klasifikasi sebagai aset atau kelompok lepasan.
d.
PSAK 58 (2016 Improvement): Non-Current Assets, Held for Sale and Discontinued Operation, effective January 1, 2017 with earlier application is permitted. This improvement clarifies that a change from one disposal method to the other disposal methods are considered as the beginning of a sustainable plan and not as a new disposal plan. This improvement also clarifies that the change in the disposal method does not change the date of classification as an asset or disposal group.
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INTRODUCTION
2016 PERFORMANCE HIGHLIGHTS
MANAJEMENT REPORT
COMPANY PROFILE
The original consolidated financial statements included herein are in the Indonesian language.
PT PELAYARAN TEMPURAN EMAS Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tanggal 31 Desember 2015 dan Untuk Tahun yang Berakhir pada Tanggal Tersebut (Disajikan dalam rupiah, kecuali dinyatakan lain)
PT PELAYARAN TEMPURAN EMAS Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended (Expressed in rupiah, unless otherwise stated)
43. STANDAR AKUNTANSI YANG TELAH DISAHKAN NAMUN BELUM BERLAKU EFEKTIF (lanjutan)
43. ACCOUNTING STANDARDS ISSUED BUT NOT YET EFFECTIVE (continued)
Berlaku efektif 1 Januari 2017: (lanjutan) e.
Effective on January 1, 2017: (continued) e.
PSAK 60 (Penyesuaian 2016): Instrumen Keuangan: Pengungkapan, berlaku efektif 1 Januari 2017 dengan penerapan dini diperkenankan. Penyesuaian ini mengklarifikasi bahwa entitas harus menilai sifat dari imbalan kontrak jasa untuk menentukan apakah entitas memiliki keterlibatan berkelanjutan dalam aset keuangan dan apakah persyaratan pengungkapan terkait keterlibatan berkelanjutan terpenuhi.
Berlaku efektif 1 Januari 2018:
Effective on January 1, 2018:
f.
Amandemen PSAK 2: Laporan Arus Kas tentang Prakarsa Pengungkapan, berlaku efektif 1 Januari 2018 dengan penerapan dini diperkenankan. Amandemen ini mensyaratkan entitas untuk menyediakan pengungkapan yang memungkinkan pengguna laporan keuangan untuk mengevaluasi perubahan pada liabilitas yang timbul dari aktivitas pendanaan, termasuk perubahan yang timbul dari arus kas maupun perubahan non-kas.
f.
Amendments to PSAK 2: Statement of Cash Flows on the Disclosures Initiative, effective January 1, 2018 with earlier application is permitted. These amendments require entities to provide disclosures that enable the financial statements users to evaluate the changes in liabilities arising from financing activities, including changes from cash flow and noncash.
g.
Amandemen PSAK 46: Pajak Penghasilan tentang Pengakuan Aset Pajak Tangguhan untuk Rugi yang Belum Direalisasi, berlaku efektif 1 Januari 2018 dengan penerapan dini diperkenankan. Amandemen ini mengklarifikasi bahwa untuk menentukan apakah laba kena pajak akan tersedia sehingga perbedaan temporer yang dapat dikurangkan dapat dimanfaatkan, estimasi atas kemungkinan besar laba kena pajak masa depan dapat mencakup pemulihan beberapa aset entitas melebihi jumlah tercatatnya.
g.
Amendments to PSAK 46: Income Taxes on the Recognition of Deferred Tax Assets for Unrealized Losses, effective January 1, 2018 with earlier application is permitted. These amendments clarify that to determine whether the taxable income will be available so that the deductible temporary differences can be utilized, estimates of the most likely future taxable income can include recovery of certain assets of the entity exceeds its carrying amount.
The Group is presently evaluating and has not yet determined the effects of these accounting standards on its financial statements.
Kelompok Usaha sedang mengevaluasi dampak dari standar akuntansi tersebut dan belum menentukan dampaknya terhadap laporan keuangan konsolidasian.
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PSAK 60 (2016 Improvement): Financial Instruments, effective January 1, 2017 with earlier application is permitted. This improvement clarifies that an entity must assess the nature of the service contract benefits to determine whether the entity has a continuing involvement in financial assets and whether the disclosure requirements related to the continuing involvement are met.
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MANAGEMENT DISCUSSION AND ANALYSIS
GOOD CORPORATE GOVERNANCE
CORPORATE SOCIAL RESPONSIBILITY
2016 AUDITED FINANCIAL STATEMENTS
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