PT Sentul City Tbk. Laporan Tahunan. Annual Report

PT Sentul City Tbk.

Laporan Tahunan

2016

Annual Report

Daftar Isi Table of Contents

Daftar Isi

Table of Contents

02 Ikhtisar Data Keuangan Penting Financial Highlights

04 Informasi Saham Share Information

08 Laporan Direksi

Report of the Directors

12 Laporan Dewan Komisaris

Report of the Board of Commissioners

16 Profil Perusahaan Company Profile

44 Fasilitas Pendukung Supporting Facilites

56 Analisis Dan Pembahasan Manajemen

Management Discussion and Analysis

68 Tata Kelola Perusahaan Corporate Governance

86 Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility

92 Laporan Keuangan Tahunan Yang Telah Diaudit Audited Annual Financial Statements

Surat Pernyataan Dewan Komisaris Dan Direksi Statement of the Board of Commissioners and Directors

PT. Sentul City Tbk | Annual Report 2016

01

Ikhtisar Data Keuangan Penting Financial Highlights


(Miliar Rupiah / Billion Rupiah)

1,600

1,207

1,200 712

800

560

400 0

2014

2015

2016

Aset Assets

Pendapatan Bersih Laba Bruto Laba (Rugi) Usaha Laba bersih yg diatribusikan kepada : Pemilik entitas induk Kepentingan Non-Pengendali Laba Neto Laba komprehensif yg diatribusikan kepada : Pemilik entitas induk Kepentingan Non-Pengendali Laba Komprehensif Jumlah Rata-rata Saham beredar (dalam jutaan) Laba (Rugi) Usaha Laba (Rugi) Bersih per saham

1,206,575 739,747 656,996 564,302 (1,875) 562,427 564,105 (1,875) 562,231 34,537 19.02 16.34

Posisi Keuangan


12,000

Dec 2016

Hasil Usaha

Pendapatan Bersih Net Revenues

9,987

11,146 11,360

9,000

Aset Liabilitas Bank Lainnya Kepentingan Non-Pengendali Ekuitas - Bersih

11,359,506 909,566 3,289,692 780,711 7,160,249

Rasio Pertumbuhan

6,000 3,000 0

2014

2015

2016


6,000 4,596

4,199

2015

2016

3,738

3,000 1,500 0

2014

Liabilitas terhadap Aset Liabilitas terhadap Ekuitas Laba Bruto/Pendapatan Bersih Laba Usaha/Pendapatan Bersih Laba Komprehensif/Pendapatan Bersih Laba Usaha/Ekuitas Laba Komprehensif / Ekuitas Laba Usaha / Aset Laba Komprehensif / Aset Aset Lancar / Liabilitas Lancar

115.54 221.20 1,037.48 1.92 9.32

(%) (%) (%) (%) (%) (%) (%) (%) (%) (%)

36.97 58.65 61.31 54.45 46.60 9.18 7.85 5.78 4.95 141.08

Angka-angka pada tabel dan grafik menggunakan notasi Inggris. Dalam jutaan Rupiah kecuali laba bersih per saham dan rasio * Disajikan kembali

02

(%) (%) (%) (%) (%)

Rasio Keuangan

Liabilitas Liabilities

4,500

Pendapatan Bersih Laba (Rugi) Usaha Laba (Rugi) Bersih Aset Ekuitas - Bersih

PT. Sentul City Tbk | Laporan Tahunan 2016


Dec 2015

Dec 2014*

559,801 229,959 204,547

712,472 324,193 151,609

49,610 12,064 61,674

53,072 (12,592) 40,479

55,050 11,887 66,937 34,537 5.92 1.44

51,185 (12,668) 38,517 31,397 4.83 1.69

Operating Result

Ekuitas - Bersih Total Equity - Net

Net Revenue Gross Profit Income from Operations Net income attribute to : Owners of the parent company Non-controlling interest Net Income Comprehensive income attribute to : Owners of the parent company Non-controlling interest Comprehensive Income Avr. Outstanding shares (in millions) Income from Operation Net Income shares


8,000

9,986,974

969,814 3,626,364 735,350 6,549,719

953,762 2,784,314 734,659 6,248,897

(25.94) 120.30 (91.58) (6.26) (9.70)

37.43 59.82 45.50 21.28 5.41 2.43 0.62 1.52 0.39 148.90

2015

2,000 0


Assets Liabilities Bank Others Non-Controlling Interest Total Equity - Net

800

657

600 400

(%) (%) (%) (%) (%)

Net Revenue Income from Operations Net Income Assets Equity

Liabilities to Assets Liabilities to Equity Gross Profit to Net Revenue Operating Profit to Net Revenue Comprehensive Income to Net Revenue Operating Profit to Equity Comprehensive Income to Equity Operating Profit to Assets Comprehensive Income to Assets Current Asset to Current Liabilities

(%) (%) (%) (%) (%) (%) (%) (%) (%) (%)

200 0

152

2014

205

2015

2016

Laba Komprehensif Comprehensive Income (Miliar Rupiah / Billion Rupiah)

800

562

600 400 200 39

Numerical denomination in all tables and graphs are in English. In million Rupiah, except for earnings per share and ratios.

2016

Laba Usaha Income from Operations

Financial Ratio 41.24 70.17 41.08 36.54 11.96 3.12 1.02 1.84 0.60 129.85

2014

7,160

4,000

Growth Ratio (21.43) 34.92 (6.52) 11.60 4.81

6,550

6,000

Financial Positions 11,145,897

6,249

0

2014

67 2015

2016

* Restated


03

Informasi Saham Share Information

Informasi Saham Share Information Tahun 2016

Year 2016 Volume (lembar)

Nilai

Saham Beredar (lembar)

Kapitalisasi Pasar

Year

Highest Price (Rp)

Lowest Price (Rp)

Closing Price (Rp)

Volume (share)

Value (Rp)

Outstanding Shares (share)

Market Capitalization (Rp)

Q1

83

53

70

4,793,592,000

325,619,873,100

34,536,595,510

2,417,561,685,700

Q2

94

70

88

10,077,890,200

852,851,683,000

34,536,595,510

3,039,220,404,880

Q3

121

85

93

12,486,174,600

1,242,570,478,400

34,536,595,510

3,211,903,382,430

Q4

100

85

92

12,948,532,700

1,210,825,653,700

34,536,595,510

3,177,366,786,920

80

80

0

Q3

Q4

Q1

0

Q1

Q2

Q3

Nilai (Rp) Value (Rp)

Q4

Q3

0

Q4

Q1

4,500,000,000,000

37,500,000,000

3,750,000,000,000

30,000,000,000

3,000,000,000,000

22,500,000,000 15,000,000,000

0

Q1

Q2

Q3

Q4

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

Saham Beredar (lembar) Outstanding Shares (share)


Q2

Q3

Volume (lembar) Volume (share)

45,000,000,000

7,500,000,000

250,000,000,000

Q2

Harga Penutupan (Rp) Closing Price (Rp)

34,536,595,510

1,242,570,478,400

500,000,000,000

1,210,825,653,700

750,000,000,000

852,851,683,000

1,000,000,000,000

325,619,873,100

1,250,000,000,000

04

Q2

Harga Terendah (Rp) Lowest Price (Rp)

0

Q1

3,177,366,786,920

Q1

Harga Tertinggi (Rp) Highest Price (Rp)

1,500,000,000,000

92

2,500,000,000

0

3,211,903,382,430

Q4

34,536,595,510

Q3

20

34,536,595,510

Q2

5,000,000,000

20

34,536,595,510

Q1

7,500,000,000

40

3,039,220,404,880

20

10,000,000,000

2,417,561,685,700

40

40 0

53

60

60

70

60

70

121 100

94

80

83

100

93

12,500,000,000

120

88

15,000,000,000

100 85

120

100 85

120

140

160

12,948,532,700

Harga Penutupan

12,486,174,600

Harga Terendah

4,793,592,000

Harga Tertinggi

10,077,890,200

Tahun

Q2

Q3

Q4

Kapitalisasi Pasar (Rp) Market Capitalization (Rp)

Q4

Informasi Saham Share Information

Tahun 2015

Year 2015 Harga Penutupan

Volume (lembar)

Nilai

Saham Beredar (lembar)

Kapitalisasi Pasar

Year

Highest Price (Rp)

Lowest Price (Rp)

Closing Price (Rp)

Volume (share)

Value (Rp)

Outstanding Shares (share)

Market Capitalization (Rp)

Q1

152

104

121

9,316,921,000

1,165,135,471,700

31,396,905,010

3,799,025,506,210

Q2

126

89

96

3,276,210,600

346,794,622,700

31,396,905,010

3,014,102,880,960

Q3

98

56

75

3,749,351,000

292,904,170,500

31,396,905,010

2,354,767,875,750

Q4

84

52

58

3,123,742,200

217,447,287,900

34,536,595,510

2,003,122,539,580

10,000,000,000

150

100

100

0

0

Q1

Harga Tertinggi (Rp) Highest Price (Rp)

Q2

Q3

Q4

75 Q1

Harga Terendah (Rp) Lowest Price (Rp)

Q2

Q3

0

Q4

400,000,000,000 200,000,000,000 0

15,000,000,000

34,536,595,510

3,000,000,000,000

217,447,287,900

3,750,000,000,000

30,000,000,000

346,794,622,700

4,250,000,000,000

37,500,000,000 292,904,170,500

45,000,000,000

22,500,000,000

Q1

Q2

Q3

Q4

7,500,000,000 Q1

Q2

Q3

Nilai (Rp) Value (Rp)

Q4

0

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

Saham Beredar (lembar) Outstanding Shares (share)

Q2

Q3

Q4

Volume (lembar) Volume (share)

1,000,000,000,000

600,000,000,000

Q1

Harga Penutupan (Rp) Closing Price (Rp)

1,200,000,000,000

800,000,000,000

9,316,921,000

96

2,000,000,000

0

Q1

Q2

Q3

2,003,122,539,580

Q4

4,000,000,000

2,354,767,875,750

Q3

31,396,905,010

Q2

25

31,396,905,010

Q1

1,165,135,471,700

0

25

6,000,000,000

3,799,025,506,210

25

50

3,014,102,880,960

50

8,000,000,000

58

50

31,396,905,010

75

75 56

98

75 84

100

52

152 126

125

121

12,000,000,000

125 104

150

125

89

150

175

200

3,749,351,000

Harga Terendah

3,123,742,200

Harga Tertinggi

3,276,210,600

Tahun

Q4

Kapitalisasi Pasar (Rp) Market Capitalization (Rp)


05

06


LAPORAN MANAJEMEN Management Report


07

Laporan Direksi Report of The Directors


Keith Steven Muljadi Presiden Direktur / President Director

Saat ini Perseroan terus berbenah, sehingga dalam keadaan pasar properti yang relatif belum stabilpun Perseroan masih bisa bertahan, bahkan membukukan peningkatan laba menjadi Rp.562 miliar. At the moment, the Company continues to straighten up, so that amid the condition of property market, which is still relatively unstable, the Company can still survive, and even booked an increase in profit to Rp. 562 billion.

08



Pemegang Saham Yang Terhormat, Dear Respected Shareholders,

Puji dan Syukur kita panjatkan kehadirat Tuhan Yang Maha Esa karena berkat rahmat dan karunia-Nya, kita dapat melewati tahun 2016 dengan baik.

All praise and thanks be to the Almighty God, for through His mercy and grace, we may pass the year 2016 in good condition.

Data Badan Pusat Statistik menyatakan bahwa pertumbuhan ekonomi nasional di tahun 2016, pada kisaran angka 5,02 %, angka tersebut lebih baik dibandingkan dengan pertumbuhan ekonomi nasional tahun 2015. Banyak pihak menyatakan pertumbuhan ekonomi pada tahun yang baru berakhir masih belum sesuai yang diharapkan, namun kita patut bersyukur atas pencapaian tersebut.

Data from the Statistics Indonesia indicate that the national economic growth in 2016 was around 5.02%, which was better compared to the national economic growth in 2015. Numerous parties have stated that economic growth in the year just ended was still not as expected, but we ought to be glad for this achievement.

Perseroan memiliki kebijakan untuk mencapai keunggulan dalam operasional maupun kualitas. Saat ini Perseroan terus berbenah, sehingga dalam keadaan pasar properti yang relatif belum stabilpun Perseroan masih bisa bertahan, bahkan membukukan peningkatan laba menjadi Rp.562 miliar.

The Company has the policy of striving for excellence in terms of operations as well as quality. At the moment, the Company continues to straighten up, so that amid the condition of property market, which is still relatively unstable, the Company can still survive, and even booked an increase in profit to Rp. 562 billion.

Berkenaan dengan Land Bank yang dimiliki oleh Perseroan, kebijakan untuk memperkuat kemitraan strategis dan pengembangan pusat perkantoran di kawasan Sentul City adalah sebuah tuntutan. Pengembangan pusat perkantoran di kawasan Sentul City akan terus dilaksanakan karena hal tersebut diyakini menjadi daya ungkit kawasan hunian dan melengkapi fasilitas yang dibutuhkan penghuni. Mengingat hal-hal tersebut di atas konsolidasi menyeluruh pada pengelolaan land bank akan memunyai dampak strategis jangka panjang. Target tersebut bertujuan untuk mempercepat pengembangan dan melengkapi kawasan sebagai tempat bekerja, selain sebagai tempat tinggal, tempat bermain, dan pusat pendidikan dan penelitian.

In terms of the Company's Land Bank, the policy of strengthening strategic partnership and development of office block in Sentul City has become a necessity. The development of office block in Sentul City area will continue to be implemented because it is believed to work as leverage to the residential area and complete the facilities required by residents. In view of the aforementioned matters, total consolidation in the management of land bank will have a long-term strategic impact. This target has the objective of accelerating development and making the area complete as the place to work, in addition to the place to live, the place to play, and center of education and research.

Kebijakan memperkuat kemitraan strategis merupakan keputusan Perseroan yang telah melalui kajian dan analisis. Perseroan dalam bekerjasama mempertimbangkan standar kompetensi dan pengalaman dalam bidangnya masingmasing. Kemitraan lain yang sedang diperkuat adalah

The policy of strengthening strategic partnership is a Company decision which has gone through review and analysis. In establishing cooperation, the Company takes into consideration the competency standard and experience in their respective field of expertise. Other partnership


09


kerjasama dengan beberapa pihak untuk mendorong Sentul City menjadi tempat unggulan dalam bidang pendidikan dan penelitian, dimana hal tersebut menjadi landasan bagi Sentul City sebagai smart city. Selain dari pada itu pengembangan infrastruktur informasi yang masif dan berteknologi tinggi, dapat mendukung kegiatan-kegiatan stakeholder di kawasan Sentul City.

which is being strengthened is cooperation with several parties to support Sentul City in becoming a superior place in the field of education and training, whereby this will become the basis for Sentul City towards becoming a smart city. In addition to that, the development of massive, high-tech information infrastructure can support stakeholder's activities in Sentul City area.

Berkenaan dengan evaluasi hasil penjualan, perseroan bertekad untuk melakukan berbagai terobosan dan melakukan evaluasi kebijakan promosi agar lebih efektif, serta menginventarisasi peluang-peluang yang diharapkan mampu mendongkrak berbagai produk yang sedang dibangun. Peluang untuk beberapa tahun ke depan adalah adanya potensi keuntungan atas disparitas harga properti dengan perbandingan yang setara pada lokasi sekeliling Ibukota DKI Jakarta. Metode perolehan keuntungan dari perbedaan harga dengan kondisi yang setara pada "pasar" yang berbeda atau arbitrasi sangat mungkin terjadi pada kondisi saat ini. Harga properti di kawasan Sentul City yang terletak di Selatan Jakarta dibandingkan dengan harga unit yang sama dengan jarak yang sama menunjukkan perbandingan potensi marjin yang cukup besar sehingga akan menarik untuk investor.

In terms of evaluation of sales result, the Company is determined to make various breakthroughs and perform evaluation on the policy on promotion in order to become more effective, as well as to make an inventory of opportunities which are expected to assist promoting various products which are currently under development. The opportunity for the next few years lies in the potential gain on disparity of property price with equal comparison between locations around Jakarta Special Capital Region. The method of making profit from the difference in price with equal condition in different "markets" or arbitration is highly possible to occur amid the current condition. The price of property in Sentul City area, located south of Jakarta, if compared to the price of similar unit within the same distance, indicates a relatively significant ratio of potential margin and therefore will be attractive to investors.

Perseroan optimis prospek usaha tahun mendatang akan sangat baik mengingat masih tingginya tingkat kebutuhan perumahan dan terus bertumbuhnya kelas menengah di kawasan Jabodetabek (Jakarta, Bogor, Depok, Tangerang, dan Bekasi) pada khususnya, dan Indonesia pada umumnya. Selain hal-hal tersebut, semakin dekatnya realisasi Penyelenggaraan Kereta Api Ringan atau Light Rail Transit Terintegrasi di Wilayah Jakarta, Bogor, Depok dan Bekasi, sebagaimana Peraturan Presiden Republik Indonesia Nomor 98 Tahun 2015 dan terbangunnya AEON MALL adalah faktorfaktor yang menguntungkan perseroan.

The Company is optimistic that business prospect in the coming year will be excellent considering the still high level of demand for housing and the continuously growing middle class in Jabodetabek (Jakarta, Bogor, Depok, Tangerang, and Bekasi) area in particular, and in Indonesia in general. In addition to the aforementioned, the approaching realization of Integrated Light Rail Transit in Jakarta, Bogor, Depok, and Bekasi area, in accordance with Regulation of the President of the Republic of Indonesia Number 98 Year 2015 and construction of AEON MALL are factors which are advantageous to the Company.

Terkait dengan Tata Kelola Perusahaan dan didorong terbitkannya Peraturan Otoritas Jasa Keuangan Nomor 21/POJK.04/2015, tentang Penerapan Pedoman Tata Kelola Perusahaan Terbuka dan Surat Edaran Otoritas Jasa Keuangan Nomor 32/SEOJK.04/2015, tentang Pedoman Tata Kelola Perusahaan Terbuka berikut lampirannya, perseroan berusaha dan berkomitmen untuk terus meningkatkan penerapan aspek, prinsip, dan rekomendasi tata kelola perusahaan yang baik.

In terms of Corporate Governance and supported by the issuance of Regulation of the Financial Services Authority Number 21/POJK.04/2015 concerning Implementation of Guidelines on the Governance of Public Companies and Circular Letter of the Financial Services Authorities Number 32/SEOJK.04/2015 concerning Guidelines on the Governance of Public Companies and the attachments thereto, the Company has made efforts and commitment to continuously improve the implementation of the aspects, principles, and recommendations of good corporate governance.

Berbagai penghargaan yang diperoleh perseroan sepanjang 2016 adalah sebagai berikut:

Several awards received by the Company during the year 2016 are as follows:

10



1. Piagam penghargaan dari Indonesia My Home Award 2016, sebagai The Best Housing with Maximazing The Utilization of Land. 2. Piagam penghargaan dari Pusat Rekor Indonesia, kategori Properti & Developer Terbaik 3. Piagam penghargaan dari Majalah Housing Estate dalam ajang Green Property Award 2016, kategori Green Open Space & Green Waste Water Management Township. 4. Piagam penghargaan dari Majalah Property and Bank dalam ajang Property & Bank Award 2016, sebagai The Signature Township with Eco - Friendly and Green, kategori Township.

1. Certificate of merit from the 2016 Indonesia My Home Award as The Best Housing with Maximizing the Utilization of Land. 2. Certificate of merit from the Indonesia's Records Center for the category of Best Property & Developer. 3. Certificate of merit from Housing Estate Magazine in the 2016 Green Property Award event for the category of Green Open Space & Green Waste Water Management Township. 4. Certificate of merit from Property and Bank Magazine in the 2016 Property & Bank Award event as The Signature Township with Eco-Friendly and Green for the category of Township.

Berdasarkan Rapat Umum Pemegang Saham Luar Biasa Perseroan pada 22 November 2016, terdapat perubahan susunan Direksi Perseroan dengan keluarnya Bapak Tubagus Ali Akbar dari susunan Direksi, dan masuknya Bapak Andy Kesuma Natanael dan Bapak Rickey Mabbun Leuterio, dalam susunan Direksi, sehingga susunan Direksi Perseroan menjadi sebagai berikut, saya, Keith Steven Muljadi, Bapak Andy Kesuma Natanael, Bapak Syukurman Larosa, Bapak Ricky Kinanto Teh dan Bapak Rickey Mabbun Leuterio.

Based on the Extraordinary General Shareholders Meeting held on November 22, 2016, there was a change in the composition of the Board of Directors of the Company with the resignation of Mr. Tubagus Ali Akbar from the Board of Directors and the inclusion of Mr. Andy Kesuma Natanael and Mr. Rickey Mabbun Leuterio in the composition of the Board of Directors, and as the result the composition of the Board of Directors of the Company became as follows: I, Keith Steven Muljadi, Mr. Andy Kesuma Natanael, Mr. Syukurman Larosa, Mr. Ricky Kinanto The, and Mr. Rickey Mabbun Leuterio.

Sebagai penutup, Direksi Perseroan mengucapkan terima kasih yang sebesar-besarnya kepada seluruh pemegang saham, Dewan Komisaris, karyawan, mitra usaha, dan pelanggan. Semoga Tuhan Yang Maha Esa selalu melimpahkan berkat dan rahmat-Nya kepada kita semua.

To conclude, the Board of Directors of the Company wishes to express its most sincere gratitude to all shareholders, the Board of Commissioners, employees, business partners, and customers. May the Almighty God always bestow His blessing and mercy upon all of us.

Atas nama Direksi, On behalf of the Board of Directors

Keith Steven Muljadi Presiden Direktur / President Director


11

Laporan Dewan Komisaris Report of the Board of Commissioners


Tranggono Ting Presiden Komisaris Merangkap Sebagai Komisaris Independen/ President Commissioner Concurrently Serving as Independent Commissioner

Dewan Komisaris memberikan apresiasi kepada Direksi karena Perseroan berhasil membukukan laba Rp. 562 miliar pada tahun yang baru berakhir. The Board of Commissioners gives its appreciation to the Board of Directors because the Company has successfully booked a profit of Rp. 562 billion during the year which has just ended.

12



Pemegang Saham Yang Terhormat, Dear Respected Shareholders, Puji dan Syukur kita panjatkan kehadirat Tuhan Yang Maha Esa karena berkat rahmat dan karunia Nya kita dapat melewati tahun 2016 dalam keadaan baik.

All praise and thanks be to the Almighty God,for through His mercy and grace, we may pass the year 2016 in good condition.

Pengaruh pelambatan ekonomi nasional pada tahun sebelumnya masih terasa sampai akhir tahun 2016, sehingga karenanya Dewan Komisaris dapat memahami bilamana pencapaian penjualan Perseroan pada 2016, belum mencapai target yang ditentukan. Kendati demikian Dewan Komisaris memberikan apresiasi kepada Direksi karena Perseroan berhasil membukukan laba Rp. 562 miliar pada tahun yang baru berakhir. Sehubungan dengan hal-hal tersebut Dewan Komisaris secara umum cukup puas dengan kinerja Direksi Perseroan, meskipun masih diperlukan berbagai perbaikan pada beberapa hal.

We were still affected by the impact of the national economic slowdown in the preceding year until the end of 2016, and therefore the Board of Commissioners understands if the Company's sales achievement in 2016 has fallen short of the stipulated target. Nevertheless, the Board of Commissioners gives its appreciation to the Board of Directors because the Company has successfully booked a profit of Rp. 562 billion during the year which has just ended. With respect to these matters, the Board of Commissioners is in general quite satisfied with the performance of the Board of Directors of the Company, although some improvement is still needed in several aspects.

Sepanjang pengawasan yang kami lakukan implemantasi strategi yang dilaksanakan Direksi Perseroan adalah konkrit dan dapat difahami oleh Dewan Komisaris.

During the supervision which we conducted, the implementation of strategy performed by the Board of Directors of the Company is concrete and can be understood by the Board of Commissioners.

Berkenaan dengan prospek usaha yang disusun oleh Direksi, Dewan Komisaris berkeyakinan bahwa prospek usaha Perseroan pada tahun mendatang sangat baik, mengingat kebijakan pemerintah terkait Percepatan Penyelenggaraan Kereta Api Ringan atau Light Rail Transit Terintegrasi Di Wilayah Jakarta, Bogor, Depok dan Bekasi. Disamping hal tersebut dibangunnya AEON MALL di kawasan Sentul City, akan memberikan dampak yang signifikan terkait kinerja penjualan Perseroan di tahun mendatang.

With regard to the business prospect prepared by theBoard of Directors, the Board of Commissioners believes that the Company has excellent business prospect in the coming year, in view of the government's policy related to the Acceleration in the Implementation of Integrated Light Rail Transit in Jakarta, Bogor, Depok, and Bekasi area.In addition to that, the construction of AEON MALL in Sentul City area will have a significant impact related to the Company's sales performance in the coming year.

Mengenai tata kelola perusahaan, penerapan aspek, prinsip dan rekomendasi tata kelola Perusahaan yang baik, sebagaimana diatur dalan Peraturan Otoritas Jasa Keuangan Nomor 21/POJK.04/2015 dan Surat Edaran Otoritas Jasa Keuangan Nomor 32/SEOJK.04/2015, secara bertahap telah diterapkan oleh Perseroan. Sehubungan dengan penguatan penerapan tata kelola Perusahaan yang baik tersebut Dewan Komisaris memberikan dukungan penuh agar tata kelola Perusahaan yang baik tersebut dapat dilaksanakan pada semua jenjang organisasi Perseroan.

With regard to corporate governance, the aspects, principles, and recommendation of Good Corporate Governance, as provided for in Regulation of the Financial Services Authority Number 21/POJK.04/2015 and Circular Letter of the Financial Service Authority Number 32/SEOJK.04/2015, has been gradually implemented by the Company. In relation to the strengthening of the implementation of Good Corporate Governance, the Board of Commissionersgives its full supports in order that the Good Corporate Governance can be implemented at all levels of the organization of the Company.

Komite Audit Perseroan yang dibentuk dan bertanggung jawab kepada Dewan Komisaris sebagaimana diatur dalam POJK Nomor : 55/POJK.04/2015, telah melaksanakan

The Company's Audit Committee, which is established by and reports to the Board of Commissioners as provided for in Regulation of the Financial Services Authority


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tugas dan tanggung jawabnya dengan baik. Komite Audit Perseroan juga telah melakukan Penelaahan atas Laporan Keuangan Perseroan 2016, yang diaudit oleh Kantor Akuntan Publik Tanubrata Sutanto Fahmi Bambang & Rekan, sesuai ketentuan Pernyataan Standar Akuntansi Keuangan dan ketentuan pasar modal yang berlaku.

Number: 55/POJK.04/2015, has implemented its duty and responsibility properly. The Company's Audit Committee has also conducted a Review of the 2016 Financial Statements of the Company, which was audited by Tanubrata Sutanto Fahmi Bambang & Partner Public Accounting Firm, in accordance with the provisions of Statement of Financial Accounting Standard and the applicable provisions on capital market.

Dewan Komisaris turut bangga atas diterimanya beberapa penghargaan oleh Perseroan pada tahun 2016, yaitu Piagam penghargaan dari Indonesia My Home Award 2016, Piagam penghargaan dari Pusat Rekor Indonesia, Piagam penghargaan dari Majalah Housing Estate dalam ajang Green Property Award 2016, dan Piagam penghargaan dari Majalah Property and Bank dalam ajang Property & Bank Award 2016. Semoga dengan berbagai penghargaan tersebut Direksi semakin terpacu dan bertambah semangat dalam bekerja, serta dapat menghadirkan berbagai penghargaan yang lebih banyak dan bergengsi.

The Board of Commissionersalso takes pride inthe numerous awards received by the Company in 2016, namely the Certificate of Merit from Indonesia My Home Award 2016, Certificate of Merit from the Indonesia's Records Center, Certificate of Merit from Housing Estate Magazine in the 2016 Green Property Award event, and Certificate of Merit from Property and Bank Magazine in the 2016 Property & Bank Award. We hope that these awards will further encouragethe Board of Directors and improve their engagement at work, as well as deliver other, more prestigious, awards.

Berdasarkan Rapat Umum Pemegang Saham Luar Biasa Perseroan pada tanggal 22 November 2016, terdapat perubahan susunan Dewan Komisaris Perseroan dengan keluarnya Bapak Basyir Ahmad Barmawi dari susunan Dewan Komisaris, sehingga susunan Dewan Komisaris Perseroan menjadi sebagai berikut, saya Tranggono Ting, Bapak Antonius Projohandojo Kristanto, Bapak Soemarso Slamet Rahardjo dan Bapak Sumarsono.

Based on Extraordinary General Shareholders Meeting of the Company on November 22, 2016, there was a change in the composition of theBoard of Commissioners of the Company by the resignation of Mr. Basyir Ahmad Barmawi from the Board of Commissioners, so that the composition of the Board of Commissioners of the Company shall become as follows: I myself, Tranggono Ting, Mr. Antonius Projohandojo Kristanto, Mr. Soemarso Slamet Rahardjo, and Mr. Sumarsono.

Rapat Dewan Komisaris bersama dengan Direksi merupakan waktu sangat baik bagi Dewan Komisaris untuk memberikan arahan dan nasihat kepada Direksi Perseroan. Pelaksanaan rapat bersama tersebut adalah sebagaimana diatur dalam POJK Nomor 33/POJK.04/2014 dan anggaran dasar Perseroan.

The Board of Commissioners joint meeting with the Board of Directors is the excellent time for the Board of Commissioners to provide direction and advice to the Board of Directorsof the Company. The implementation of the joint meeting is as provided for in Regulation of the Financial Services Authority Number 33/POJK.04/2014 and articles of association of the Company.

Sebagai penutup Dewan Komisaris Perseroan mengucapkan terimakasih yang sebesar besarnya kepada seluruh pemegang saham, Direksi, karyawan, mitra usaha dan pelanggan, semoga Tuhan Yang Maha Esa selalu melimpahkan berkat dan rahmat Nya kepada kita semua.

To conclude, the Board of Commissioners of the Company wishes to express its most sincere gratitude to all shareholders, the Board of Directors, employees, business partners, and customers. May the Almighty God always bestow His blessing and mercy uponall of us.

Atas nama Dewan Komisaris, On behalf of the Board of Commissioners

Tranggono Ting Presiden Komisaris Merangkap Sebagai Komisaris Independen/ President Commissioner Concurrently Serving as Independent Commissioner

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Piagam penghargaan 2016 dari Indonesia My Home Award 2016, Piagam penghargaan dari Pusat Rekor Indonesia, dari Majalah Housing Estate dalam ajang Green Property Award 2016, dan dari Majalah Property and Bank dalam ajang Property & Bank Award 2016. Awards received by the Company in 2016, namely the Certificate of Merit from Indonesia My Home Award 2016, from the Indonesia's Records Center, from Housing Estate Magazine in the 2016 Green Property Award event, and from Property and Bank Magazine in the 2016 Property & Bank Award.


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PROFIL PERUSAHAAN Company Profile


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Profil Perusahaan Company Profile

Riwayat Singkat Perseroan History of the Company

PT. Sentul City Tbk (Perseroan) Kantor Pusat/Head Office Gedung Menara Sudirman, Lantai 25, 27 Jl. Jend. Sudirman Kav. 60 Jakarta 12190, Indonesia Phone : +62 21 522 6877 Fax : +62 21 522 6818

Kantor Operasional/Operations Office Sentul City Building Jl. MH. Thamrin Kav. 8 Sentul City, Bogor 16811, Indonesia Phone : +62 21 8792 6555 Fax : +62 21 8792 6565 Email : [email protected] Website : www.sentulcity.co.id

Perseroan didirikan dengan nama PT. Sentragriya Kharisma, berdasarkan Akta No. 311 tanggal 16 April 1993 yang dibuat dihadapan Misahardi Wilamarta, SH, Notaris di Jakarta dan telah mendapat pengesahan dari Menteri Kehakiman Republik Indonesia dengan Keputusan Nomor C2-4350.HT.01.01.TH.93 tanggal 8 Juni 1993, didaftarkan di Kantor Pengadilan Negeri Jakarta Selatan di bawah No.552/A.PT/ HKM/1993/PN.JAK.SEL tanggal 24 Juni 1993 serta telah diumumkan dalam Berita Negara Republik Indonesia No. 65 tanggal 13 Agustus 1993, Tambahan No. 3693. Pada tanggal 9 Agustus 1993, Perseroan melakukan perubahan nama dari PT. Sentragriya Kharisma menjadi PT. Royal Sentul Highlands, sebagaimana dinyatakan dalam Akta No. 27 tanggal 9 Agustus 1993 yang dibuat dihadapan Dr. Widjojo Wilami, SH, Notaris di Jakarta. Akta ini telah mendapat persetujuan dari Menteri Kehakiman Republik Indonesia dengan Surat Keputusan No. C2-2518 HT.01.04.Th.94 tanggal 16 Pebruari 1994.

The Company was incorporated under the name of PT. Sentragriya Kharisma by Deed No. 311 dated April 16, 1993 drawn up before Misahardi Wilamarta, SH, Notary in Jakarta, which Deed was approved by the Minister of Justice of the Republic of Indonesia pursuant to Decree No. C2-4350.HT.01.01.TH.93 dated June 8, 1993, and registered with the South Jakarta District Court No.552/A.PT/HKM/ 1993/PN.JAK.SEL dated June 24, 1993 and announced in the State Gazette of the Republic of Indonesia No. 65 dated August 13, 1993, Supplement No. 3693. On August 9, 1993 the Company changed its name to PT. Royal Sentul Highlands by Deed No. 27 dated August 9, 1993 made drawn up before Dr. Widjojo Wilami, SH, Notary in Jakarta. This Deed was approved by the Minister of Justice of the Republic of Indonesia pursuant to Decree No. C2-2518 HT.01.04.Th.94 dated February 16, 1994.

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Dalam rangka penawaran umum sekaligus penyesuaian dengan Undang-undang Perseroan Terbatas, anggaran dasar Perseroan telah diubah seluruhnya dengan Akta No. 42 tanggal 7 Mei 1997 yang dibuat dihadapan Ny. Poerbaningsih Adi Warsito, SH, Notaris di Jakarta. Nama Perseroan berubah menjadi PT. Royal Sentul Highlands Tbk yang telah mendapat persetujuan Menteri Kehakiman Republik Indonesia dengan Surat Keputusan No. C2-3643 HT.01.04.Th.97 tanggal 12 Mei 1997 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 71 tanggal 5 September 1997, Tambahan No. 3842.

For the purpose of conducting public offering and as compliance with Indonesian Company Law the Company's Articles of Association have been amended by Deed No. 42 dated May 7, 1997 drawn up before Ny. Poerbaningsih Adi, SH, Notary in Jakarta. The name change of the Company to PT. Royal Sentul Highlands Tbk was approved by the Minister of Justice of the Republic of Indonesia pursuant to Decree No.HT.01.04.Th. 97 C2-3643 dated May 12, 1997 and was announced in the State Gazette of the Republic of Indonesia No.71 dated 5 September 1997, Supplement No. 3842.

Pada tanggal 30 Juni 1997, berdasarkan pernyataan efektif dari Ketua Bapepam dengan surat No. S-1511/PM/1997, Perseroan melakukan Penawaran Saham Perdana (IPO) kepada masyarakat atas 400.000.000 saham Seri A dengan harga penawaran Rp. 500,- (lima ratus rupiah) per saham, sehingga mendapatkan dana hasil IPO Rp. 200.000.000.000,(dua ratus milyar rupiah). Saham-saham tersebut dicatatkan di Bursa Efek Jakarta (BEJ) dan Bursa Efek Surabaya (BES) pada tanggal 28 Juli 1997.

On June 30, 1997 based on the effective statement from the Chairman of Bapepam pursuant to Letter No.S1511/PM/1997 the Company conducted an Initial Public Offering (IPO) of 400,000,000 Series A shares with a nominal value of Rp.500, - (five hundred rupiah) per share with the proceeds of offering is Rp. 200,000,000,000 (two hundred billion rupiah). These shares were listed on the Jakarta Stock Exchange (JSX) and the Surabaya Stock Exchange (BES) on July 28, 1997.

Selanjutnya sebagaimana dinyatakan dalam Akta No. 26 tanggal 11 Desember 1997 yang dibuat dihadapan Ny. Poerbaningsih Adi Warsito, SH, Notaris di Jakarta,

By Deed No. 26 dated December 11, 1997 drawn up before Ny. Poerbaningsih Adi, SH, Notary in Jakarta, the Company changed its name to PT. Bukit Sentul Tbk. The Deed was


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nama Perseroan diubah menjadi PT. Bukit Sentul Tbk. Akta ini telah mendapat persetujuan Menteri Kehakiman Republik Indonesia dengan Surat Keputusan No. C2-33 HT.01.04.Th.98 tanggal 14 Januari 1998.

approved by the Minister of Justice of the Republic of Indonesia pursuant to Decree No. C2-33 HT.01.04.Th.98 dated January 14, 1998.

Pada tanggal 29 Juli 1999, Perseroan telah memperoleh pengesahan RUPSLB serta pernyataan efektif dari Ketua Bapepam sesuai Surat Keputusan No. S-1379/PM/1999, untuk melakukan Penawaran Umum Terbatas I (PUT I) dengan Hak Memesan Efek Terlebih Dahulu atas sejumlah 4.004.000.000 (empat milyar empat juta) saham Seri B. Harga penawaran adalah Rp. 200,- (dua ratus rupiah) per saham, sehingga total dana hasil PUT I yang diperoleh Perseroan adalah sebesar Rp. 800.800.000.000,- (delapan ratus milyar delapan ratus juta rupiah). Saham-saham tersebut dicatatkan di BEJ dan BES pada tanggal 3 Agustus 1999.

On July 29, 1999 the Company was granted approval by the Extraordinary General Meeting of Shareholders and obtained the effective statement from the Chairman of Bapepam pursuant to Letter No. S-1379/PM/1999 to conduct Right Issue I (PUT I) with Pre-emptive Rights of 4,004,000,000 (four billion four million) Series B shares at an offering price of Rp. 200, - (two hundred rupiah) per share with the proceeds of the Right Issue I totally Rp. 800,800,000,000 - (eight hundred billion eight hundred million rupiah). The shares were listed on JSX and SSX on August 3, 1999.

Perseroan kemudian melakukan perubahan nama sekali lagi menjadi PT. Sentul City, Tbk, sebagaimana dinyatakan dalam Akta No. 26 tanggal 19 Juli 2006 yang dibuat dihadapan Fathiah Helmi, SH, Notaris di Jakarta, yang telah mendapat persetujuan Menteri Hukum dan Hak Asasi Manusia Republik Indonesia pada tanggal 20 Juli 2006 dengan Keputusan No. C2-21373 HT.01.04.Th.2006.

The Company changed its name once again to PT. Sentul City Tbk. by Deed No. 26 dated July 19, 2006 drawn up before Fathiah Helmi, SH, Notary in Jakarta, which deed was approved by the Minister of Law and Human Rights of the Republic of Indonesia on July 20, 2006 pursuant to Decree No.C2-21373 HT.01.04.TH.2006.

Perseroan kembali melakukan penawaran atas sahamsahamnya pada tanggal 8 September 2006, melalui Penawaran Umum Terbatas II atas 8.151.000.000 (delapan miliar seratus lima puluh satu juta) saham Seri C dengan harga nominal Rp. 100,- (seratus rupiah ) per saham. Saham-saham tersebut dicatatkan di Bursa Efek Jakarta (BEJ) dan Bursa Efek Surabaya (BES) pada tanggal 22 September 2006.

On September 8, 2006 the Company conducted Right Issue II of 8,151,000,000 (eight billion one hundred fifty one million) Series C shares with a nominal value of Rp.100 (one hundred rupiah) per share. The shares were listed on the JSX and BES on September 22, 2006.

Perseroan telah menyesuaikan anggaran dasarnya dengan Undang-undang Perseroan Terbatas berdasarkan Akta tertanggal 15 Januari 2009, nomor 1, yang dibuat oleh Sherley Ikawati Tambunan, SH., Notaris di Kabupaten Bogor, yang telah mendapat persetujuan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia, sebagaimana ternyata dari surat Keputusan Menteri Hukum dan Hak Asasi Manusia Republik Indonesia tertanggal 29 Juli 2009, nomor AHU-36025.AH.01.02.Tahun 2009.

The Company has amended its Articles of Association in compliance with the new Corporation Code through its Deed No. 1 on January 15, 2009, created by Sherley Ikawati Tambunan, SH., a Notary in the Bogor District and has been approved by the Minister of Law and Human Rights of the Republic of Indonesia, as stated in the Letter of Approval of the Minister of Law and Human Rights of the Republic of Indonesia, dated July 29, 2009, No. AHU36025.AH.01.02.Th.2009.

Pada tanggal 8 September 2009, Rapat Umum Pemegang Saham Luar Biasa menyetujui peningkatan modal ditempatkan dan modal disetor Perseroan Tanpa Hak M e m e s a n E f e k Te r l e b i h D a h u l u menjadi Rp.1.981.250.859.800, sesuai akta Berita Acara Rapat Umum Pemegang Saham Luar Biasa PT SENTUL CITY Tbk, Nomor 1, tanggal 08 September 2009, yang dibuat oleh Widijono, SH., MM., Notaris di Kabupaten Bogor, akta mana telah diterima oleh Departemen Hukum dan Hak Asasi Manusia Republik Indonesia, Direktorat Jenderal Administrasi Hukum Umum sesuai surat tertanggal 14 Oktober 2009, Nomor : AHU-AH.01.10-17742, Perihal

On September 8, 2009, the Extraordinary General Meeting of Shareholders of the Company approved to increase the issued and paid-up capital of the Company without Preemptive Rights to Rp.1,981,250,859,800 in accordance with the Minutes of Extraordinary General Meeting of Shareholders of PT SENTUL CITY Tbk Number 1 dated September 8, 2009 drawn up before Widijono, SH., MM., Notary in Bogor Regency, which Deed was received by the Ministry of Justice and Human Rights of the Republic of Indonesia, Directorate General of General Law Administration in accordance letter dated October 14, 2009 Number: AHU-AH.01.10-17742 on the Receipt of

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Penerimaan Pemberitahuan Perubahan Anggaran Dasar PT. SENTUL CITY Tbk.

Notice of Amendment to Articles of Association of PT. Sentul City Tbk.

Pada tanggal 29 Desember 2009, Perseroan memperoleh persetujuan Rapat Umum Pemegang Saham Luar Biasa untuk melakukan Penawaran Umum Terbatas III dengan Hak Memesan Efek Terlebih Dahulu sejumlah 15.025.512.897 saham seri C dengan nilai nominal Rp.100 atau seluruhnya Rp.1.502.551.289.700, sesuai Akta Berita Acara Rapat Umum Pemegang Saham Luar Biasa PT SENTUL CITY Tbk, Nomor 122, tanggal 29 Desember 2009, yang dibuat oleh Dr Misahardi Wilamarta, SH., M.H., M.Kn., LLM., Notaris di Jakarta. Berkaitan dengan Akta Berita Acara Rapat Umum Pemegang Saham Luar Biasa tersebut dibuat Akta Pernyataan Keputusan Rapat PT SENTUL CITY Tbk Nomor 54, tangal 28 Januari 2010, oleh Notaris yang sama, akta mana telah disampaikan ke Kementerian Hukum Dan Hak Asasi Manusia Republik Indonesia Direktorat Jenderal Administrasi Hukum Umum sesuai surat tertanggal 10 Februari 2010, Nomor : AHUAH.01.10-3485, perihal Penerimaan Pemberitahuan Perubahan Anggaran Dasar PT SENTUL CITY Tbk.

On December 29, 2009, the Company was granted approval by the General Meeting of Shareholders Extraordinary to conduct Right Issue III with Pre-emptive Rights of 15,025,512,897 Series C shares with a nominal value of Rp 100 per share or totally Rp.1.502.551.289.700 in accordance with the Deed of Minutes of Extraordinary General Meeting of Shareholders of PT Sentul City Tbk, No. 122 dated December 29, 2009 drawn up by Dr. Misahardi Wilamarta, SH., MH, M.Kn., LLM., Notary in Jakarta. The Minutes of Extraordinary General Meeting of Shareholders was restated in Deed of Resolutions of General Meeting of Shareholders of PT SENTUL CITY Tbk No. 54 dated January 28, 2010 drawn up before the same notary and the Deed was submitted to the Ministry of Justice and Human Rights of the Republic of Indonesia, Directorate General of General Law Administration pursuant to letter dated February 10, 2010 No. AHU-AH.01.10 3485 on Receipt of Notice of Amendment to the Articles of Association of PT. SENTUL CITY Tbk.

Berdasarkan Akta Pernyataan Keputusan Rapat PT SENTUL CITY Tbk, nomor 93, tanggal 15 Februari 2010, yang dibuat oleh Dr Misahardi Wilamarta, SH., M.H., M.Kn., LLM., Notaris di Jakarta, Perseroan telah menyesuaikan anggaran dasarnya dengan Peraturan Badan Pengawas Pasar Modal dan Lembaga Keuangan (BAPEPAM dan LK), nomor IX.J.1, lampiran Keputusan Ketua BAPEPAM dan LK nomor Kep179/BL/2008, tanggal 14 Mei 2008, tentang Pokok-Pokok Anggaran Dasar Perseroan Yang Melakukan Penawaran Umum Efek Bersifat Ekuitas Dan Perusahaan Publik, akta mana telah diterima oleh Kementerian Hukum dan Hak Asasi Manusia Republik Indonesia, Direktorat Jenderal Administrasi Hukum Umum sesuai surat tertanggal, 05 Maret 2010, Nomor AHU-AH.01.10-05577, Perihal Penerimaan Pemberitahuan Perubahan Anggaran Dasar PT. SENTUL CITY Tbk.

Based on Deed of Shareholders' Resolution of PT Sentul City Tbk, Number 93 dated February 15, 2010 which was drawn up before Dr. Misahardi Wilamarta, SH., MH, M.Kn., LLM., Notary in Jakarta, the Company amended its articles of association to comply with the Capital Market and Financial Institution Supervisory Agency Regulations (Bapepam-LK) number IX.J.1, attachment of the Decision of Chairman of Bapepam-LK Number Kep-179/BL/2008 dated May 14, 2008 on the Principles of the Articles of Association of Companies Conducting Equity Securities Public Offering and Public Companies, which Deed was received by the Ministry of Justice and Human Rights of the Republic of Indonesia, Directorate General of General Law Administration pursuant to Letter dated March 5, 2010, No. AHU-AH.01.10-05 577 regarding Receipt of Notice of Amendment to the Articles of Association of PT. SENTUL CITY Tbk.

Perseroan pada tanggal 9 Maret 2010, telah memperoleh persetujuan Rapat Umum Pemegang Saham Luar Biasa untuk meningkatkan Modal Dasar Perseroan menjadi Rp.13.500.000.000.000,- yang dimuat dalam Akta Pernyataan Keputusan Rapat PT SENTUL CITY Tbk, Nomor 36, tanggal 9 Maret 2010, yang dibuat oleh Dr Misahardi Wilamarta, SH., M.H., M.Kn., LLM., Notaris di Jakarta, Akta mana telah mendapat persetujuan Menteri Hukum dan Hak Asasi Manusia Republik Indonesia pada tanggal 0 5 A p r i l 2 0 1 0 d e n g a n Ke p u t u s a n N o . A H U 16924.AH.01.02.Th.2010.

On March 9, 2010 the Company was granted approval from the Extraordinary General Meeting of Shareholders to increase the authorized capital of the Company to Rp.13.500.000.000.000 pursuant to Deed of Shareholders' Resolutions of PT Sentul City Tbk, Number 36 dated March 9, 2010 drawn up by Dr. Misahardi Wilamarta, SH., MH, M.Kn., LLM., Notary in Jakarta, which deed was approved by the Minister of Law and Human Rights of the Republic of Indonesia on April 5, 2010 pursuant to Decree No.AHU16924.AH.01.02.Th.2010.

Sesuai Akta tertanggal 24 September 2010, Nomor 36, yang dibuat Stephanie Wilamarta, SH., Notaris di Jakarta, yang telah diterima dan dicatat oleh Kementerian Hukum dan Hak Asasi Manusia Republik Indonesia, sebagaimana ternyata dari surat Penerimaan Pemberitahuan Perubahan

By Deed dated 24 September 2010 Number 36 drawn up before Stephanie Wilamarta, SH., Notary in Jakarta, which was accepted and registered with the Ministry of Justice and Human Rights of the Republic of Indonesia pursuant to the Receipt of Notice of Amendment to the Articles of


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Anggaran Dasar PT SENTUL CITY, Tbk., tertanggal 7 Oktober 2010 nomor AHU-AH.0110-25389, setelah pelaksanaan waran seri I, modal ditempatkan dan modal disetor Perseroan menjadi Rp.3.833.840.501.000,-

Association of PT Sentul City, Tbk., dated October 7, 2010 Number AHU-AH.0110 2010-25389 after the execution of first warrant the Company's issued and paid-up capital was increased to Rp.3,833,840,501,000.

Perseroan pada tanggal 3 Agustus 2011, telah memperoleh persetujuan Rapat Umum Pemegang Saham Luar Biasa untuk meningkatkan madal ditempatkan dan modal disetor Perseroan, melalui Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu, menjadi Rp.4.119.240.501.000,sebagaimana dimuat dalam Akta Pernyataan Keputusan Rapat PT SENTUL CITY Tbk., Nomor 49, tanggal 22 Agustus 2011, yang dibuat oleh Dr Misahardi Wilamarta, SH., M.H., M.Kn., LLM., Notaris di Jakarta, Akta mana telah diterima dan dicatat oleh Kementerian Hukum dan Hak Asasi Manusia Republik Indonesia, sebagaimana ternyata dari surat Penerimaan Pemberitahuan Perubahan Anggaran Dasar PT SENTUL CITY, Tbk., tertanggal 23 September 2011 nomor AHU-AH.01.10-30301.

On August 3, 2011 the Company was granted approval from the Extraordinary General Meeting of Shareholders to increase its subscribed and paid in Capital Without Preemptive Rights to Rp.4.119.240.501.000, pursuant to the Deed of Shareholders' Resolutions of PT Sentul City Tbk., Number 49 dated August 22, 2011 which was drawn up before Dr. Misahardi Wilamarta, SH., MH, M.Kn., LLM., Notary in Jakarta, which Deed was accepted and registered with the Ministry of Justice and Human Rights of the Republic of Indonesia pursuant to the Receipt of Notice of Amendment to the Articles of Association of PT Sentul City Tbk. dated September 23, 2011 Number AHU-AH.01.1030301.

Berdasarkan Akta Pernyataan Keputusan Rapat PT SENTUL CITY Tbk, nomor 1, tanggal 7 Juli 2015, yang dibuat oleh Elizabeth Karina Leonita, SH., M.Kn., Notaris di Kota Bogor, Perseroan telah menyesuaikan anggaran dasarnya dengan Peraturan Otoritas Jasa Keuangan Nomor 32/POJK.04/2014, tentang Rencana Penyelenggaraan Rapat Umum Pemegang Saham Perusahaan Terbuka, Nomor 33/POJK.04/2014, tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik, Nomor 33/PJK.04/2014, tentang Komite Nominasi dan Remunerasi Emiten atau Perusahaan Publik, akta mana telah diterima oleh Kementerian Hukum dan Hak Asasi Manusia Republik Indonesia, Direktorat Jenderal Administrasi Hukum Umum sesuai surat tertanggal 10 Juli 2015, Nomor AHU-AH.01.030950442, Perihal Penerimaan Pemberitahuan Perubahan Anggaran Dasar PT. SENTUL CITY Tbk.

Based on the Deed PT SENTUL CITY Tbk, number 1, dated July 7, 2015, made by Elizabeth Karina Leonita, SH., M.Kn., a notary in the city of Bogor, the Company has adjusted its statutes by the Financial Services Authority Regulation No. 32 /POJK.04/2014, on the Implementation Plan for the General Meeting of Shareholders of Public Company, No. 33 / POJK.04 / 2014, on the Board of Directors and Board of Commissioners of Public Company, No. 33 / PJK.04 / 2014, on the Nomination and Remuneration Committee Issuer or Public Company, a deed which has been accepted by the Ministry of Law and Human Rights of the Republic of Indonesia, Directorate General of Legal Administration corresponding letter dated July 10, 2015, No. AHU-AH.01.03-0950442, Receipt of Notification regarding amendments of PT. SENTUL CITY Tbk.

Perseroan pada tanggal 17 Desember 2015, telah memperoleh persetujuan Rapat Umum Pemegang Saham Luar Biasa untuk meningkatkan madal dasar dan modal ditempatkan - disetor Perseroan, melalui Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu, sehingga k a r e n a n y a m o d a l d a s a r Pe r s e r o a n m e n j a d i Rp.14.000.000.000.000,- dan modal ditempatkan -disetor menjadi Rp. 4.276.225.026.000,- sebagaimana dimuat dalam Akta Pernyataan Keputusan Rapat PT SENTUL CITY Tbk., Nomor 9, tanggal 17 Desember 2015, yang dibuat oleh Elizabeth Karina Leonita, SH., M.Kn., Notaris di Kota Bogor, Akta mana telah memperoleh Persetujuan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia Nomor AHU-0948654.AH.01.02.Tahun 2015, tanggal 22 Desember 2015 dan telah diterima dan dicatat di dalam Sistem Administrasi Badan Hukum Kementerian Hukum dan Hak Asasi Manusia Republik Indonesia, sebagaimana ternyata dari surat Penerimaan Pemberitahuan Perubahan Anggaran Dasar PT SENTUL CITY, Tbk., tertanggal 22 Desember 2015 nomor AHUAH.01.03-0990543.

On December 17, 2015, the Company has obtained approval from the Extraordinary General Shareholders Meeting to increase its authorized capital and issued/paid-up capital, through Capital Increase without Pre-emptive Rights, and therefore, the Company's authorized capital became Rp.14,000,000,000,000.- and its issued/paid-up capital became Rp. 4,276,225,026,000.- as stated in the Deed of Statement of the Resolutions of Meeting of PT SENTUL CITY Tbk., Number 9, dated December 17, 2015, drawn before Elizabeth Karina Leonita, SH., M.Kn., Notary in Bogor Municipality, which has obtained approval from the Minister of Law and Human Rights of the Republic of Indonesia Number AHU-0948654.AH.01.02.Tahun 2015, dated December 22, 2015 and has been received and registered in the Legal Entity Administration System of the Ministry of Law and Human Rights of the Republic of Indonesia, as proven by the letter of Receipt of Notification of Amendment to the Articles of Association of PT SENTUL CITY, Tbk., dated December 22, 2015 number AHUAH.01.03-0990543.

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VISI

VISION

Menjadi perusahaan properti pilihan pertama bagi pelanggan dan pihak yang berkepentingan lainnya karena kami meningkatkan kualitas hidup. To be the property developer of first choice for all customers and stakeholders because we undertake to elevate the quality of their lives.

MISI

MISSION

Mengembangkan Sentul City dengan perumahan bermutu dan inovatif yang selaras dengan lingkungan alam. Menyediakan fasilitas pendidikan terbaik dan layanan kesehatan bertaraf internasional. Memadukan perencanaan dan pembangunan fasilitas komersial, hiburan dan wisata. Memperkaya pertumbuhan Sentul City dengan fasilitas seni dan budaya. To supplement the development of Sentul City with quality and innovative housing product that harmonizes with the natural environment. To provide the best educational centers and international health care facilities. To integrate the planning and development of the commercial, entertainment and tourism facilities. To enhance the value of the development of Sentul City with arts and culture amenities.


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Kegiatan Usaha Perseroan Business Activities of the Company

1. Maksud dan tujuan Perseroan ini adalah berusaha dalam bidang pembangunan, perdagangan dan jasa. 2. Untuk mencapai maksud dan tujuan tersebut di atas, Perseroan dapat melaksanakan kegiatan usaha sebagai berikut: a.Kegiatan usaha utama Perseroan meliputi ; 1. Menjalankan usaha-usaha di bidang pembangunan, antara lain bertindak sebagai : pengembang, yang meliputi perencanaan, pelaksanaan, konstruksi, beserta fasilitasfasilitasnya termasuk perencanaan, pembangunan dan mengerjakan pembebasan, pembukaan, pengurugan dan pemerataan tanah dan; pemborongan pada umumnya (general contractor), yang meliputi pembangunan kawasan perumahan (real estate), rumah susun (rusun), gedung, perkantoran, dan apartemen/kondominium, kawasan belanja (mal dan plaza), rumah sakit, gedung pertemuan, rumah ibadah, water park, rumah toko (ruko), sekolah, dan bangunan- bangunan komersial pada umumnya;

1. The purpose and objective of this Company is to conduct business in the field of construction, trading and services. 2. In order to achieve the above-mentioned purpose and objective, the Company can conduct business activities as follows: a.The Company's main business activities are: 1. Conducting businesses in the field of construction, among other things by acting as: developer, which consists of planning, implementation, construction, as well as the facilities including planning, construction and performing land acquisition, clearing, filling and leveling, and; general contractor, which consists of the construction of real estate, flats, buildings, offices, apartments/condominiums, shopping area (mall and plaza), hospitals, meeting halls, place of worships, water park, shophouses, schools, and commercial buildings in general;

2. Menjalankan usaha-usaha di bidang perdagangan yang berhubungan dengan usaha real estate dan properti, antara lain meliputi perdagangan yang berhubungan dengan usaha real estate, yaitu penjualan dan pembelian bangunan-bangunan rumah, gedung perkantoran, gedung pertokoan, unit-unit ruangan apartemen, ruangan kantor, ruangan pertokoan dan lain-lain;

2. Conducting businesses in the field of trading related to the real estate and property business which, among other things, consist of real estate business-related trading, namely sale and purchase of residential buildings, office buildings, shops, apartment units, office spaces, shopping area etc.;

3. Menjalankan usaha-usaha di bidang jasa, antara lain meliputi ; jasa penyewaan dan pengelolaan properti, meliputi jasa manajemen pengelolaan dan penyewaan, pemeliharaan, perawatan serta penyediaan fasilitas penunjang lainnya untuk apartemen/ kondominium dan rumah susun serta kegiatan usaha terkait; jasa penyewaan dan pengelolaan kawasan industri, meliputi jasa pengelolaan dan

3. Conducting businesses in the field of services which, among other things, consist of: property rental and management service, which consists of management and rental, maintenance and care service and provision of other supporting facilities for apartments/condominiums and flats as well as related business activities; industrial estate rental and management service, which consists of management and

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penyewaan, pemeliharaan, perawatan serta penyediaan fasilitas penunjang lainnya, seperti pabrik, gudang dan kegiatan lainnya; jasa pengelolaan dan penyewaan gedung perkantoran, taman hiburan/rekreasi, pengelolaan parkir dan keamanan (satpam) serta bidang terkait.

rental, maintenance and care service and provision of other supporting facilities, such as factories, warehouses and other activities; office building management and rental service, amusement/recreational parks, management of parking facility and security (security guards) and related business fields.

b.Kegiatan usaha penunjang, meliputi; 1. Pemasangan instalasi-instalasi, antara lain pemasangan, perbaikan dan pemeliharaan instalasi-instalasi listrik (elektronikal), gas, air minum, perangkat telekomunikasi, plumbing atau limbah; 2. Perdagangan secara impor, ekspor, lokal serta antar pulau (interinsulair) baik untuk perhitungan sendiri maupun secara komisi atas perhitungan pihak lain atas bahan-bahan konstruksi mencakup kayu dan berbagai kayu olahan, cat, pelitur, vernis, material konstruksi, kaca datar, semen, ubin dan lain-lain; 3. Jasa kebersihan gedung, mencakup usaha cleaning service dan usaha-usaha terkait lainnya.

b.Supporting business activities are: 1. Placement of installations, among other things the placement, repair and maintenance of electrical installations (electronical), gas, drinking water, telecommunication devices, plumbing or waste; 2. Import, export, local as well as inter-island trading, either on own account as well as based on commission on other party's account of construction materials, which include wood and various processed woods, paint, polish, varnish, construction materials, flat glass, cement, floor tiles etc.; 3. Building cleaning service, which consists of cleaning service business and other related businesses.

Kegiatan Usaha Pada Tahun Buku Menjalankan usaha real estate dan properti, antara lain meliputi perdagangan yang berhubungan dengan usaha real estate, yaitu penjualan bangunan-bangunan rumah, gedung perkantoran, gedung pertokoan, unit-unit ruangan apartemen, ruangan kantor, ruangan pertokoan dan lainlain;

Business Activities during the Financial Year Conducting real estate and property businesses, including trades that relate to real estate business, i.e., selling house buildings, office buildings, shop buildings, apartment space units, office spaces, shop spaces and others;

Jenis Barang Yang Dihasilkan Bangunan rumah, apartemen, gedung perkantoran, gedung pertokoan dan lain-lain.

Types of goods produced House buildings, apartments, office buildings, shop buildings and others.


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Struktur Organisasi Organization Structure

Dewan Komisaris Board of Commisioners

Komite Audit Audit Committee Presiden Direktur President Director

Keith Steven

Direktur Director

Rickey Mabbun Leuterio

Internal Audit Aloysius Diaz

Sales Administration Didie Santa BB. Pineda

Customer Relation Center Ari H. Setyaningsih

Finance, Accounting & Tax Andrew Kumala

Legal & Corp. Secretary Kwee Liana Kumala

Financial Planning & Analysis

General Affair Samsul Bahri

Information Technology Muliadi Widodo

Human Capital

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Wakil Presiden Direktur

Direktur

Direktur Independen

Andy Kesuma Natanael

Ricky Kinanto Teh

Syukurman Larosa

President Director

Director

Independent Director

Marketing

Planning & Design

Mktg & Communication Heru Kusuma Wijaya

Investor Relation

Quantity Surveyor Siti Kustini

Product Management Frankie L. Monintja

Procurement Nico Prayudha

Sales Counter Baby Hakim

Construction

Sales Club


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Profil Direksi Profile of Director

Syukurman Larosa


Keith Steven Muljadi


Ricky Kinanto Teh

Direktur Independen Independent Director

Direktur Director

Presiden Direktur President Director

Wakil Presiden Direktur Vice President Director

Direktur Director

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Keith Steven Muljadi

Presiden Direktur Perseroan yang memiliki tugas dan tanggung jawab mengelola usaha Perseroan dan mengkoordinasikan tugas-tugas para Direktur. Usia 34 Tahun, kewarganegaraan Indonesia. Memperoleh gelar Bachelor of Arts (BA) Finance & Marketing (2006) dan minor dalam Ekonomi serta Master of Business Administration (MBA) dengan specialty dalamIntangible Asset Valuation (2010), dari Seattle University, Seattle Washington. Dasar hukum penunjukan sebagai anggota Direksi adalah sesuai Akta Pernyataan Keputusan Rapat Umum Pemegang Saham Nomor : 81, tanggal 22 November 2016, yang dibuat oleh Elizabeth Karina Leonita, SH., M.Kn., Notaris di Kota Bogor. Karirnya dimulai pada tahun 2006 dengan bekerja sebagai Financial Analyst pada World Harvest, Seattle, Washington (November 2006 - September 2007), sebagai Financial Advisor, Merrill Lynch, Seattle, Washington (November 2006 - Juni 2010), sebagai Strategic Initiative, University of Washinton, C4C, Seattle, Washington, (Juli 2010 - Desember 2010), sebagai Direktur, PT Number One Perso, Jakarta, Indonesia (Juni 2011 - sekarang). He is the President Director of the Company with the duty and responsibility of managing the Company's business and coordinating the duties of the Directors. He is 34 years old and an Indonesian citizen. He earned his Bachelor of Arts(BA) degree in Finance & Marketing (2006) with minor in Economics andMaster of Business Administration (MBA) degree with specialty in Intangible Asset Valuation (2010) fromSeattle University, Seattle, Washington. The legal basis for his appointment as member of the Board of Directors is the Deed of Statement of Decision of the General Shareholders Meeting Number: 81, dated November 22, 2016, drawn before Elizabeth Karina Leonita, SH., M.Kn., Notary in Bogor Municipality. His career started in 2006 by working as Financial Analyst at World Harvest, Seattle, Washington (November 2006 - September 2007), as Financial Advisor at Merrill Lynch, Seattle, Washington (November 2006 - June 2010), asStrategic Initiative at University of Washington, C4C, Seattle, Washington, (July 2010 - December 2010), and asthe Director of PT Number One Perso, Jakarta, Indonesia (June 2011 - now).


Wakil Presiden Direktur Perseroan yang memiliki tugas dan tanggung jawab membantu Presiden Direktur di bidang Operasional, Marketing dan Investor Relation Perseroan serta mengkoordinasikan tugas-tugas para Direktur. Usia 45 Tahun, kewarganegaraan Indonesia. Memperoleh gelar sarjana dari Universitas Tarumanegara Jakarta Jurusan Marketing Manajemen (1992). Dasar hukum penunjukan sebagai anggota Direksi adalah sesuai Akta Pernyataan Keputusan Rapat Umum Pemegang Saham Nomor : 81, tanggal 22 November 2016, yang dibuat oleh Elizabeth Karina Leonita, SH., M.Kn., Notaris di Kota Bogor. Pengalaman kerja antara lain Senior Marketing Manager pada Sinar Mas (1997-2004), General Manager pada Summarecon Serpong (2005-2009), Deputy Marketing Director pada Paramount Serpong (2009-2010), Antara Agustus 2010 - Desember 2015 sebagai President Director Jakarta Garden City - PT Mitra Sindo Sukses dan Managing Director Urban Development - PT Modernland Realty Tbk dan Sebagai Corporate Marketing Director PT Modernland Realty Tbk (Januari - Desember 2016). He is the Vice President Director of the Company with the duty and responsibility of assisting the President Director in the fields of Operations, Marketing and Investor Relation of the Company and coordinating the duties of the Directors. He is 45 years old and an Indonesian citizen. He earned his bachelor degree from Universitas Tarumanegara Jakarta, majoring in Marketing Management (1992). The legal basis of his appointment as member of the Board of Directors is the Deed of Statement of Decision of the General Shareholders Meeting Number: 81, dated November 22, 2016, drawn before Elizabeth Karina Leonita, SH., M.Kn., Notary in Bogor Municipality. He has work experience, among other things, as Senior Marketing Manager at Sinar Mas (1997-2004), General Manager at Summarecon Serpong (2005-2009), and Deputy Marketing Director at Paramount Serpong (2009-2010), and between August 2010 - December 2015, he served as the President Director of Jakarta Garden City - PT Mitra Sindo Sukses, Managing Director of Urban Development of PT Modernland Realty Tbk, and Corporate Marketing Director of PT Modernland Realty Tbk (January- December 2016).


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Syukurman Larosa

Direktur Independen Perseroan yang memiliki tugas dan tanggung jawab di bidang Pengembangan Produk, Pemasaran dan Penjualan. Usia 48 tahun, kewarganegaraan Indonesia. Lulusan Prasetiya Mulya Business School, bidang studi Marketing Manajemen 2011. Dasar hukum penunjukan sebagai anggota Direksi adalah sesuai Akta Pernyataan Keputusan Rapat Umum Pemegang Saham Nomor : 81, tanggal 22 November 2016, yang dibuat oleh Elizabeth Karina Leonita, SH., M.Kn., Notaris di Kota Bogor. Pengalaman kerja antara lain, bekerja di Lippo Group dengan posisi terakhir sebagai Sales & Marketing Division Head PT. Lippo Cikarang Tbk (1996-2012) dan Direktur Perseroan (26 Juni 2012 - 29 Juni 2015). He is the Independent Director of the Companywith the duty and responsibilityin the fields of Product Development, Marketing, and Sales. He is 48 years old and an Indonesian citizen. He graduated from Prasetiya Mulya Business School, majoring in Marketing Management in 2011. The legal basis of his appointment as member of the Board of Directors is the Deed of Statement of Decision of the General Shareholders Meeting Number: 81, dated November 22, 2016, drawn before Elizabeth Karina Leonita, SH., M.Kn., Notary in Bogor Municipality. He has work experience, among other things, at Lippo Group with the last positions as Sales & Marketing Division Head of PT. Lippo Cikarang Tbk (1996-2012) and as the Director of the Company (June 26, 2012 - June29, 2015).

Ricky Kinanto Teh

Direktur Perseroan yang memiliki tugas dan tanggungjawab di bidang Perencanaan, Engineering, Pengembangan Bisnis, Quantity Surveyor, Pengadaan Barang dan Jasa serta proyek konstruksi. Usia 47 tahun, kewarganegaraan Amerika Serikat. Lulusan University of Oklahoma, USA dengan gelar B.Arch (1994). Dasar hukum penunjukan sebagai anggota Direksi adalah sesuai Akta Pernyataan Keputusan Rapat Umum Pemegang Saham Nomor : 81, tanggal 22 November 2016, yang dibuat oleh Elizabeth Karina Leonita, SH., M.Kn., Notaris di Kota Bogor. Karirnya sebagai Arsitek di Amerika Serikat dimulai pada tahun 1994 sebagai intern arsitek di CIDA, Inc. (1994-1998), dan bekerja di Ankrom Moisan Architects selama 18 tahun dengan jabatan sebagai Princ. Beliau memiliki ijin arsitek di dua Negara bagian Amerika Serikat yaitu Oregon dan Washington. Anggota AIA, (American Institute of Architects), anggota NCARB (National Council of Architectural Registration Board), dan LEED AP profesional. He is the Director of the Company with the duty and responsibility in the fields of Planning, Engineering, Business Development, Quantity Surveyor, Goods and Services Procurement as well as construction projects. He is 47 years old and a United States citizen. He graduated from University of Oklahoma, USA and earned B.Arch degree (1994). The legal basis of his appointment as member of the Board of Directors is the Deed of Statement of Decision of the General Shareholders Meeting Number: 81, dated November 22, 2016, drawn before Elizabeth Karina Leonita, SH., M.Kn., Notary in Bogor Municipality. His career as an Architect in the United States started in 1994 as intern architect at CIDA, Inc. (1994-1998), and after that he worked at Ankrom Moisan Architects for 18 years with the position of Princ. He has architecture license in two states of the United States, namely Oregon and Washington. He is a member of AIA (American Institute of Architects), member of NCARB (National Council of Architectural Registration Board), anda LEED AP professional.

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Direktur Perseroan yang memiliki tugas dan tanggungjawab dibidang Keuangan, Akuntansi, Perpajakan, Teknologi Informasi dan Administrasi Penjualan. Usia 52 tahun, kewarganegaraan Filipina. Lulusan Universitas Santo Tomas Manila, Jurusan Akuntansi (1985). Dasar hukum penunjukan sebagai anggota Direksi adalah sesuai Akta Pernyataan Keputusan Rapat Umum Pemegang Saham Nomor : 81, tanggal 22 November 2016, yang dibuat oleh Elizabeth Karina Leonita, SH., M.Kn., Notaris di Kota Bogor. Pengalaman kerja antara lain Senior Auditor pada ARTHUR ANDERSEN SGV MANILA (1986-1990), Assistant Manager pada PT KPMG SUJENDRO SEOSANTO (1990-1993), Finance Controller pada KTP GROUP INDONESIA (1993-1999), Associate Manager pada KAP PRASETIO UTOMO Member Firm of Arthur Anderson (1999), Technical Advisor-Director Strategic Planning pada PT WESTSIDE AGRITAMA (1999-2009), Supplier Utama Fastfood seluruh McDonald Indonesia, CFO pada RBH dan Integra Group (2009-2016). He is the Director of the Company with the duty and responsibility in the fields of Finance, Taxation, Information Technology, and Sales Administration. He is 52 years old and a Philippine citizen. He graduated from University of Santo Tomas Manila, majoring in accounting (1985). The legal basis of his appointment as member of the Board of Directors is the Deed of Statement of Decision of the General Shareholders Meeting Number: 81, dated November 22, 2016, drawn before Elizabeth Karina Leonita, SH., M.Kn., Notary in Bogor Municipality. He has work experience, among other things, as Senior Auditor at ARTHUR ANDERSEN SGV MANILA (1986-1990), Assistant Manager at PT KPMG SUDJENDRO SOESANTO (1990-1993), Finance Controller at KTP GROUP INDONESIA (1993-1999), Associate Manager at KAP PRASETIO UTOMO Member Firm of Arthur Anderson (1999), Technical Advisor-Director Strategic Planning at PT WESTSIDE AGRITAMA (1999-2009), the Main Fast Food Supplierof all McDonalds in Indonesia, and as CFO at RBH and Integra Group (2009-2016).


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Profil Dewan Komisaris Profile of Board of Commisioners

Antonius Prijohandojo Kristanto

Tranggono Ting

Soemarso Slamet Rahardjo

Sumarsono

Wakil Presiden Komisaris Vice President Commissioner

Presiden Komisaris President Commissioner

Komisaris Independen Independent Commissioner

Komisaris Commissioner

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Tranggono Ting

Antonius Prijohandojo Kristanto

Presiden Komisaris Merangkap Sebagai Komisaris Independen Perseroan, usia 63 tahun, kewarganegaraan Indonesia.

Wakil Presiden Komisaris Perseroan, usia 69 tahun, kewarganegaraan Indonesia.

Pendidikan Fakultas Arsitektur, Konstanz Fachhoch Schule, Germany, tahun 1973.

Memperoleh gelar Sarjana Muda Ekonomi Perusahaan dari Unika Atmajaya Semarang (1970), dan gelar Drs. Ekonomi Perusahaan dari Universitas Tarumanagara, Jakarta (1977) serta gelar Sarjana Hukum dari Universitas Tujuh Belas Agustus, Jakarta (2014).

Pertama kali menjabat sebagai Komisaris Independen Perseroan adalah berdasarkan Berita Acara Rapat Umum Pemegang Saham Luar Biasa PT Sentul City Tbk., No. 8 (17-12-2015), yang dibuat oleh Elizabeth Karina Leonita, SH., MKn., Notaris di Kota Bogor Beberapa posisi yang pernah dijabat adalah sebagai Komisaris Utama PT. Panca Arga Sejahtera sejak 1988, Direktur Utama PT. Gandaria Sejahtera sejak 1992, Direktur Utama PT Arthamas Sejahtera (2015 - Juni 2016) yang semuanya bergerak pada bidang Developer. Beliau juga menjabat sebagai Komisaris PT. Manunggal Jaya Abadi dan Direktur Utama PT. Pioner Tanjung Utama yang bergerak pada bidang pertambangan Batubara sejak 2011. President Commissioner and an Independent Commissioner of the Company, aged 63 years old and Indonesian national. He studied Architectures at Konstanz Fachhoch Schule, Germany, in 1973. The first time he served as an Independent Commissioner of the Company was based on Minutes of Extraordinary General Meeting of Shareholders of PT Sentul City Tbk., No. 8 (17-122015), which was drawn up by Elizabeth Karina Leonita, SH., MKn., Notary in Bogor City. The positions that have been held by him include President Commissioner of PT. Panca Arga Sejahtera since 1988, President Director of PT. Gandaria Sejahtera since 1992, President Director of PT Arthamas Sejahtera (2015 - June 2016), all engaged in developer business. He also serves as a Commissioner of PT. Manunggal Jaya Abadi and President Director of PT. Pioner Tanjung Utama, engaged in Coal mining, since 2011.

Dasar hukum penunjukan sebagai anggota Dewan Komisaris adalah sesuai Akta Pernyataan Keputusan Rapat Umum Pemegang Saham Nomor : 81, tanggal 22 November 2016, yang dibuat oleh Elizabeth Karina Leonita, SH., M.Kn., Notaris di Kota Bogor. Selain menjabat sebagai Wakil Presiden Komisaris Perseroan beliau juga menjabat sebagai anggota Komite Audit pada PT Jababeka Tbk, menjabat Komisaris, Komite Audit dan Komite Remunerasi pada PT Indofood ICBP Tbk. Karirnya di mulai dengan menjadi Konsultan Pajak pada tahun 1971 setelah sebelumnya berkarir sebagai akuntan di perusahaan farmasi selama 4 tahun. Saat ini beliau merupakan Chairman dari PB Taxand. Beliau mengikuti program-program pendidikan manajemen, keuangan, entrepreneurship dan perpajakan dari perguruan tinggi dan institusi lainnya didalam dan diluar negeri. Beliau juga aktif diberbagai organisasi seperti Kamar Dagang dan Industri (Kadin) Indonesia sebagai Wakil Ketua Komite Tetap Perpajakan periode 2010 - 2015, Asosiasi Pengusaha Indonesia (APINDO) sebagai Ketua Bidang Perpajakan, Certified Wealth Managers Association sebagai Anggota Dewan Pembina, sebagai pembicara dan narasumber pada konferensi atau seminar perpajakan baik didalam maupun di luar negeri. Vice President Commissioner of the Company, aged 69 years old and Indonesian national. He obtained his Bachelor's Degree in Business Economics from Catholic University Unika Atmajaya Semarang (1970) and his Doktorandus (MA) Degree in Business Economics from Tarumanagara University (1977) and Bachelor of Law (Sarjana Hukum) from Tujuh Belas Agustus University, Jakarta (2014). The legal basis of his appointment as a member of the Board of Commissioners is pursuant to the Resolution of General Meeting of Shareholders Deed Number: 81, dated 22 November 2016, which was drawn up by Elizabeth Karina Leonita, SH., M.Kn., Notary in Bogor City. Besides serving as Vice President Commissioner of the Company, he also is a member of PT Jababeka Tbk's Audit Committee, a Commissioner, an Audit Committee and a Remuneration Committee at PT Indofood ICBP Tbk. He started his career as a Tax Consultant in 1971 after previously having a career as an accountant at a pharmaceutical company for 4 years. Currently, he is the Chairman of PB Taxand. He attended management, finance, entrepreneurship and tax education programs at local and international universities and other institutions. He is also active in organizations, such as the Indonesian Chamber of Commerce and Industry (Kadin) as the Vice Chairman of Standing Committee on Taxes 2010-2015, Association of Indonesian Entrepreneurs (APINDO) as the Chairman on Tax Section, Certified Wealth Managers Association as a Member of the Advisory Board, as a speaker and a source person at local and international tax conferences or seminars.


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Soemarso Slamet Rahardjo

Komisaris Independen Perseroan, usia 66 tahun, kewarganegaraan Indonesia. Lulusan Fakultas Ekonomi Jurusan Akuntansi, Universitas Indonesia tahun 1975, mendapatkan gelar Magister Ekonomi tahun 1996, bidang Ekonomi Perencanaan & Doktor kekhususan Ekonomi Moneter dari Fakultas Ekonomi UI tahun 2012. Pertama kali menjabat sebagai Komisaris Independen Perseroan adalah berdasarkan Berita Acara Rapat Umum Pemegang Saham Tahunan PT Sentul City Tbk., No. 96 (22-6-2010), yang dibuat oleh Humberg Lee, SH., SE., MKn., Notaris di Jakarta. Selain menjabat sebagai Komisaris Independen Perseroan beliau juga menjabat sebagai anggota Komite Pemantau Risiko pada PT Bank Permata Tbk. Pernah menjadi Country Managing Partner KAP Prasetio, Utomo & Co. dan Chairman KAP Purwantono, Sarwoko, Sanjaya. Beliau aktif di berbagai penugasan sebagai akuntan publik dan penugasan lain sebagai Pegawai Negeri Sipil di Fakultas Ekonomi Universitas Indonesia. Memperoleh Piagam Satya Lancana Karya 20 dan 30 tahun dari Presiden Republik Indonesia. Sampai saat ini beliau aktif pada kegiatan kemasyarakatan, aktif melakukan penelitian dan menulis buku. Independent Commissioner of the Company, aged 66 years old and Indonesian national. He finished his Accounting Studies in 1975 at the University of Indonesia's Faculty of Economics, and obtained his Master of Economics degree in 1996, majoring in Planning Economics, and his Doctoral degree in Monetary Economics from the University of Indonesia's Faculty of Economics in 2012. The first time he served as an Independent Commissioner of the Company was based on Minutes of Annual General Meeting of Shareholders of PT Sentul City Tbk., No. 96 (22-6-2010), which was drawn up by Humberg Lee, SH., SE., MKn., Notary in Jakarta. Besides serving as an Independent Commissioner of the Company, he also serves as a member of the Risk Oversight Committee of PT Bank Permata Tbk. He held the position of Country Managing Partner of Prasetio, Utomo & Co. Public Accounting Firm and Chairman of Purwantono, Sarwoko, Sanjaya Public Accounting Firm. He is actively involved in a number of assignments as public accountant and other assignments as Civil Servant at the Faculty of Economics, Universitas Indonesia. He was awarded Satya Lancana Karya Satya Charter for 20 and 30 years of service by the President of the Republic of Indonesia. Until now, he is still actively involved in many community activities, conducting research and writing books.

34


Sumarsono

Komisaris Perseroan, usia 61 tahun, kewarganegaraan Indonesia. Lulusan Sekolah Tinggi Ilmu Ekonomi Indonesia tahun 1986, Jurusan Akuntansi. Dasar hukum penunjukan sebagai anggota Dewan Komisaris adalah sesuai Akta Pernyataan Keputusan Rapat Umum Pemegang Saham Nomor : 81, tanggal 22 November 2016, yang dibuat oleh Elizabeth Karina Leonita, SH., M.Kn., Notaris di Kota Bogor. Karirnya dimulai pada tahun 1974 sebagai supervisor Housekeeping Department pada PT Bhakti Ksatria Utama (1974-1984), kemudian bekerja sebagai Auditor Eksternal pada Kantor Akuntan Publik Drs O.Pieter Arifin (1982-1988), sebagai General Manager Finance & Accounting masing-masing pada PT. Linolen Sari Nabati Murni (1988-1991), PT. Toyo Diptana Mas (1991-1997), PT. Royal Ostrindo (1997-2000) dan PT. Dayu Bahtera Kurnia (2000-2002), kemudian bergabung dengan Perseroan sebagai Internal Audit (Juni 2002- Juni 2005), sebagai Asisten Direktur (Juli 2005-Juni 2007), sebagai anggota Komite Audit (Juli 2007-Juni 2008). Commissioner of the Company, 61 years old and Indonesian national. He finished his Accounting Studies in 1986 at Sekolah Tinggi Ilmu Ekonomi Indonesia School of Economics. The legal basis of his appointment as a member of the Board of Commissioners is pursuant to the Resolution of General Meeting of Shareholders Deed Number: 81, dated 22 November 2016, which was drawn up by Elizabeth Karina Leonita, SH., M.Kn., Notary in Bogor City. He started his career in 1974 as a Housekeeping Department Supervisor at PT Bhakti Ksatria Utama (1974-1984), then worked as an External Auditor at Public Accountant Firm Drs O. Pieter Arifin (1982-1988), as a Finance & Accounting General Manager at PT. Linolen Sari Nabati Murni (1988-1991), PT. Toyo Diptana Mas (1991-1997), PT. Royal Ostrindo (1997-2000) and PT. Dayu Bahtera Kurnia (2000-2002), and joined the Company as an Internal Uditor (June 2002 - June 2005), as an Assistant Director (July 2005 - June 2007), as a member of Audit Committee (July 2007 - June 2008).


Sumber Daya Manusia Human Resources

Jumlah karyawan Perseroan dan anak perusahaan sebagaimana tersebut, sampai dengan tanggal 31 Desember 2016 tercatat sejumlah 645 orang (mengalami penurunan sebesar kurang lebih 2.42% dibanding dengan jumlah karyawan pada akhir tahun 2015).

The number of employees of the Company and its subsidiaries up to December 31, 2016 was 645 individuals (it decreases approximately 2.42% than those of the end of 2015).

Komposisi karyawan menurut jenjang kepangkatan adalah sebagai berikut:

The employees composition according to the employees' ranks are as follows:

Perusahaan/Company PT. Sentul City Tbk. PT. Sukaputra Graha Cemerlang PT. Gunung Geulis Elok Abadi Grand Total

Department Head

Section Head

Staff

18

41

50

157

12

278

3

6

7

70

181

267

Non Staff

0

4

1

38

57

100

21

51

58

265

250

645

Komposisi karyawan menurut tingkat pendidikan adalah sebagai berikut: Perusahaan/Company

Grand Total

Division Head

The employees composition according to the employees' education are as follows: SMA atau Sederajat

< SMA

Grand Total

>S-1

S-1

Diploma

12

160

51

49

6

278

PT. Sukaputra Graha Cemerlang

0

28

15

145

79

267

PT. Gunung Geulis Elok Abadi

0

28

4

58

10

100

12

216

70

252

95

645

PT. Sentul City Tbk.

Grand Total

Komposisi karyawan menurut umur adalah sebagai berikut: Perusahaan/Company

The employees composition according to the employees' age are as follows: 31 - 40th

41 - 50th

> 50th

Grand Total

62

85

95

34

278

37

134

87

9

267

<21

21-30th

PT. Sentul City Tbk.

2

PT. Sukaputra Graha Cemerlang

0

PT. Gunung Geulis Elok Abadi Grand Total

8

56

21

14

1

100

10

155

240

196

44

645


35


Entitas Anak Perusahaan Perseroan Subsidiary Companies

No

Anak-anak Perusahaan Subsidiary Company

Bidang Usaha Industry

1

PT. Bukit Jonggol Asri Gedung Menara Sudirman Lt.22 Jl. Jend. Sudirman Kav.60 Kelurahan Senayan, Kecamatan Kebayoran Baru Jakarta Selatan 12190

80,00

Real Estat Real Estate

2

PT. Aftanesia Raya Sentul City Building Jl. MH Thamrin Kav. 8 Sentul City, Desa Cipambuan, Kecamatan Babakan Madang Bogor 16811

99,99


3

PT Serpong Karya Cemerlang Gedung SICC Lt. 3, Jl. Jend. Sudirman Cipambuan, Babakan Madang, Bogor 16811

99,25

Perdagangan Umum & Jasa General Trading & Service

4

PT. Gununggeulis Elok Abadi Sentul City Building Jl. MH Thamrin Kav. 8 Sentul City, Desa Cipambuan, Kecamatan Babakan Madang Bogor 16811

99,99

Restoran & Pariwisata Restaurant & Tourism

5

PT. Karya Megah Sukses Gedung Menara Sudirman Lt.26 Jl. Jend. Sudirman Kav.60, Kelurahan Senayan Kecamatan Kebayoran Baru Jakarta Selatan 12190

99,99

Perdagangan & Jasa Trading & Service

6

PT. Sukaputra Grahacemerlang Plaza Niaga I Blok C No. 25 & 27 Sentul City, Desa Citaringgul, Kecamatan Babakan Madang Kabupaten Bogor 16810

99,99

Pengelolaan Kota Urban Management

7

PT Sentul Air Nusantara Jl. Taman Venesia Utara No.151, Desa Sumur Batu Kecamatan Babakan Madang Kabupaten Bogor 16810

65,00

Pengelolaan Air Water Management

8

PT. Gazelle Indonesia Ruko Plaza Niaga I Blok B No. 33 Sentul City, Desa Citaringgul, Kecamatan Babakan Madang Kabupaten Bogor 16810

99,99


9

PT Langgeng Sakti Mandiri* Gedung Menara Sudirman Lt.22 Jl. Jend. Sudirman Kav.60 Kelurahan Senayan, Kecamatan Kebayoran Baru Jakarta Selatan 12190

99,99

Pengelolaan Air Water Management

10

PT Bintang Perdana Mulia** Gedung Menara Sudirman Lt.22 Jl. Jend. Sudirman Kav.60 Kelurahan Senayan, Kecamatan Kebayoran Baru Jakarta Selatan 12190

99,83


11

PT Sentul PP Properti Ruko Pasar Bersih Blok H No. 8 Sentul City Desa Citaringgul Kecamatan Citaringgul Kabupaten Bogor 16810

51,00


12

PT Jaya Selaras Utama *** Bellanova Country Mall RK 3 No.9 Desa Cipambuan Kecamatan Babakan Madang Kabupaten Bogor 16811

99,92 %

Jasa Perparkiran Parking Service

* Dimiliki Perseroan melalui PT Bukit Jonggol Asri **Dimiliki Perseroan melalui PT Aftanesia Raya *** Dimiliki Perseroan melalui PT. Gununggeulis Elok Abadi

36

Persentase Kepemilikan Saham Ownership Percentage


* The company is owned by PT Bukit Jonggol Asri ** The company is owned by PT Aftanesia Raya ** The company is owned by PT Gununggeulis Elok Abadi


Perusahaan Asosiasi Perseroan Associated Companies

No

Perusahaan Asosiasi Associated Companies

Persentase Kepemilikan Saham Ownership Percentage


1

PT. Royal Sentul Resort Hotel

48,00

Hotel

2

PT. Jakarta Polo and Equestrian

42,00

Klub Polo

3

PT. Sukses Pratama Gemilang

50,00

Property, Jasa & Perdagangan

4

PT. Langgeng Sakti Persada

50,00

Perdagangan Umum & Jasa

5

PT. Serumpun Lestari Sejahtera

50,00

Perhotelan

6

PT. Bintang Emerald Perdana

50,00

Property, Jasa & Perdagangan

7

PT. Cakrawala Bintang Unggulan

50,00

Perdagangan Umum & Jasa

8

PT Group Seventy Asia

45.00

Jasa Arsitektur


37


Informasi Pemegang Saham Shareholders Information

Pemegang saham di atas 5 % per 31 Desember 2016 Shareholders holding more than 5% ownership per 31 December 2016 Pemegang Saham Shareholders

No 1 2 3 4

PT CITRA KHARISMA KOMUNIKA SAKTI GENERASI PERDANA, PT. EFG BANK AG, SINGAPORE BRANCH A/C CLIENT TS Masyarakat*

Jumlah Saham Total Shares

Persentase Percentage

11.857.244.669 2.742.233.000 2.254.266.127 17.682.851.714

34,33 % 7,94 % 6,53 % 51,20 %

*Kelompok Pemegang Saham di bawah 5 %

* Below 5 % shareholders

Jumlah Pemegang Saham dan Persentase Kepemilikan Berdasarkan Klasifikasi, per 31 Desember 2016 Total Shareholders and Ownership Percentage by Classification, per December 31, 2016 No

Klasifikasi Kepemilikan Ownership Classification

Pemegang Saham Shareholders

Persentase Percentage

Institusi Lokal Institusi Asing Individu Lokal Individu Asing Total

157 97 14.433 138 14.825

1,08 % 0,65 % 97,34 % 0,93 % 100 %

A B C D

Pemegang Saham Utama dan Pengendali PT Sentul City Tbk 2016, per 31 December 2016 Major shareholder and operator PT Sentul City Tbk, per December 31, 2016

Winata Surya Tenggara 4.400 saham /0,44 %

Rosselly Tjung 100 saham/ 0,01 %

Dutch Growth Invest PTE LTD 995.500 saham/ 99,55%

PT Citra Kharisma Komunika (34,33 %) 11.857.244.669 shm

Sakti Generasi Perdana, PT. (7.94 %) 2.742.233.000 shm

EFG Bank AG -Singapore Branch A/C Client TS (6,53 %) 2.254.266.127 shm

PT Sentul City Tbk 34.536.595.510 shm

38


Masyarakat (51,20%)17.682.851.714 shm


Kronologis Pencatatan Saham Perseroan Listing Chronology

Pada tanggal 30 Juni 1997, berdasarkan pernyataan efektif dari Ketua Badan Pengawas Pasar Modal (Bapepam) dengan suratnya No.S-1511/PM/1997, Perseroan melakukan Penawaran Umum Perdana (IPO) kepada masyarakat atas 400.000.000 (empat ratus juta) saham Seri A dengan nilai nominal Rp.500 (lima ratus rupiah) dan harga penawaran Rp.500 (lima ratus rupiah) per saham dengan total dana hasil IPO sebesar Rp.200.000.000.000 (dua ratus miliar rupiah). Perseroan mencatatkan saham-saham tersebut di Bursa Efek Jakarta (BEJ) dan Bursa Efek Surabaya (BES) pada tanggal 28 Juli 1997. Pada tanggal 29 Juli 1999, Perseroan memperoleh pernyataan efektif dari Ketua Bapepam dengan Surat No.S-1379/PM/1999 untuk melakukan Penawaran Umum Terbatas I (PUT I) dengan hak memesan efek terlebih dahulu sejumlah 4.004.000.000 (empat miliar empat juta) saham Seri B dengan nilai nominal On June 30, 1997 based upon the effective statement approval of the Chairman of Capital Market Supervisory Agency (Bapepam) pursuant to Letter No.S-1511/PM/1997 the Company conducted an Initial Public Offering (IPO) of 400,000,000 (four hundred million) Series A shares at an offering price of Rp 500 (five hundred rupiah) per share and the proceeds of offering was in a total of Rp.200,000,000,000 (two hundred billion rupiah). The shares were listed on the Jakarta Stock Exchange (JSX) and the Surabaya Stock Exchange (BES) on July 28, 1997. On July 29, 1999 the Company obtained the effective statement approval from the Chairman of Bapepam pursuant to Letter No.S-1379/PM/1999 to conduct Right Issue I with Preemptive Right of 4,004,000,000 (four billion four million) Series B shares at an offering price of Rp 200 (two hundred rupiah) per share


39


Rp.100 (seratus rupiah) dan harga penawaran Rp 200 (dua ratus rupiah) per saham dengan total dana hasil PUT I sebesar 800.800.000.000 (delapan ratus miliar delapan ratus juta rupiah), yang dicatatkan di BEJ dan BES pada tanggal 3 Agustus 1999.

with total proceeds of offering is Rp.800,800,000,000 (eight hundred billion eight hundred million rupiah) which were listed on JSX and SSX on August 3, 1999.

Berdasarkan hasil Rapat Umum Pemegang Saham Luar Biasa (RUPSLB) yang diselenggarakan tanggal 19 Juli 2006 yang Berita Acara Rapatnya dimuat dalam akta No.25 tanggal 19 Juli 2006 dan dinyatakan dalam Akta No.26 tanggal 19 Juli 2006 dan Akta No.27 tanggal 27 Juli 2006 yang dibuat dibuat oleh dan dihadapan Notaris Fathiah Helmi, S.H. Akta No.26 tanggal 19 Juli 2006 mengenai perubahan nama Perseroan menjadi PT Sentul City Tbk telah mendapatkan persetujuan dari Menteri Hukum dan Perundang-undangan Republik Indonesia tanggal 20 Juli 2006 No.C-21373 HT.01.04.Th.2006 dan Akta No.26 tanggal 19 Juli 2006 dan Akta No.27 tanggal 27 Juli 2006 mengenai peningkatan modal dasar dan reverse stock yaitu melakukan pengurangan jumlah saham yang ditempatkan sehingga nilai nominal saham Seri A dan B meningkat masing-masing dari Rp 500 dan Rp 100 menjadi Rp 2.000 dan Rp 400 telah mendapat persetujuan dari Menteri Hukum dan Perundang-undangan Republik Indonesia tanggal 28 Juli 2006 No.C-22166.HT.01.04.Th.2006.

Based on the Resolutions of the Extraordinary General Meeting of Shareholders (EGM) held on July 19, 2006 and the Minutes of which was contained in Deed No. 25 dated July 19, 2006 and restated in Deed No. 26 dated July 19, 2006 and Deed No. 27 dated July 27 2006 drawn up by and before Notary Fathiah Helmi, SH., Deed No. 26 dated July 19, 2006 on the change of the Company's name to PT Sentul City Tbk was approval by the Minister of Law and Legislation of the Republic of Indonesia on July 20, 2006 No. C-21 373 HT.01.04.TH.2006 and Deed No. 26 dated July 19, 2006 and Deed No. 27 dated July 27, 2006 both regarding the increase of the authorized capital and reverse stock namely the reduction of the number of subscribed shares so that the nominal value of Series A and B shares increased from Rp 500 and Rp 100 to Rp 2,000 and Rp 400 respectively were approved by the Minister of Law and Legislation of the Republic of Indonesia on July 28, 2006 No.C-22166.HT.01.04.Th.2006.

Pada tanggal 7 September 2006, Perseroan memperoleh pernyataan efektif dari Ketua Bapepam-LK dengan Surat No. S-1821/BL/2006 untuk melakukan Penawaran Umum Terbatas II (PUT II) dengan Hak Memesan Efek Terlebih Dahulu (HMETD) sejumlah 8.151.000.000 saham Seri C dengan nilai nominal Rp 100 (seraus rupiah) dan harga penawaran Rp. 100 (seratus rupiah) per saham dan dicatatkan pada Bursa Efek Indonesia pada tanggal 22 September 2006.

On September 7, 2006 the Company obtained effective statement approval from the Chairman of Bapepam-LK pursuant to Letter No.S-1821/BL/2006 to conduct Right Issue II (PUT II) with Preemptive Rights of 8,151,000,000 billion Series C shares with a nominal value of Rp 100 per share and listed on JSX on September 22, 2006.

Pada tanggal 5 Oktober 2009, Perseroan kembali mencatatkan sahamnya yang merupakan hasil Penambahan Modal Tanpa Hak Memesan Efek Terlebih dahulu sebanyak 507.508.598 saham, Seri C dengan nilai nominal Rp. 100 (seratus rupiah) dan harga penawaran Rp.160 (seratus enam puluh rupiah) per saham, sehingga pada tanggal 31 Desember 2009 seluruh saham Perseroan yang tercatat pada Bursa Efek Indonesia sebanyak 10.017.008.598.

On October 5, 2009 the Company listed its shares following the Capital Increase without Preemptive Rights of 507,508,598 series C shares with a nominal value of Rp 160 per share, on December 31, 2009 all shares of the Company listed on the Indonesia Stock Exchange were 10,017,008,598 shares.

Pada tanggal 29 Desember 2009, Perseroan memperoleh pernyataan efektif dari Ketua Bapepam-LK dengan Surat No. S-11066/BL/2009, untuk melakukan Penawaran Umum Terbatas III (PUT III) dengan Hak Memesan Efek Terlebih Dahulu (HMETD) sejumlah 15.025.512.897 saham Seri C dengan nilai nominal Rp 100 (seratus rupiah) dan harga penawaran Rp.100 (seratus rupiah) per saham, dan sebanyak-banyaknya 3.505.953.009 Waran Seri I serta dicatatkan pada Bursa Efek Indonesia pada tanggal 14 Januari 2010.

On December 29, 2009 the Company obtained the effective statement approval from the Chairman of Bapepam-LK pursuant to Letter No.S-11066/BL/2009 to conduct Right Issue III (PUT III) with Preemptive Rights of 15,025,512,897 Series C shares with nominal value of Rp 100 per share and maximum of 3,505,953,009 Series I Warrants and listed on JSX on January 14, 2010.

40



Pada tanggal 19 Agustus 2011, Perseroan kembali mencatatkan sahamnya yang merupakan hasil Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu sebanyak 2.854.000.000 saham Seri C dengan nilai nominal Rp. 100 (seratus rupiah) dan harga penawaran Rp.117 (seratus tujuh belas rupiah) per saham, sehingga pada tanggal 31 Desember 2011 seluruh saham Perseroan yang tercatat pada Bursa Efek Indonesia sebanyak 31.396.905.010.

On August 19, 2011 the Company listed its shares following Capital Increase without Preemptive Rights of 2,854,000,000 series C shares with a nominal value of Rp 100 per share and offering nominal Rp 117 per share, so on December 31, 2011 all shares of the Company listed on the Indonesia Stock Exchange were 31,396,905,010 shares.

Pada tanggal 29 Desember 2015, Perseroan kembali mencatatkan sahamnya yang merupakan hasil Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu sebanyak 3.139.690.500 saham Seri D dengan nilai nominal Rp. 50 (lima puluh rupiah) dan harga penawaran Rp.75 (tujuh puluh lima rupiah) per saham, sehingga pada tanggal 31 Desember 2015, seluruh saham Perseroan yang tercatat pada Bursa Efek Indonesia sebanyak 34.536.595.510.

On December 29, 2015, the Company once again registered its shares which were the result of Capital Increase without Pre-emptive Rights in the amount of 3,139,690,500 series D shares with a nominal value of Rp 50 per share and offering nominal Rp 75 per share, so that as of December 31, 2015, the total amount of the Company's shares registered with the Indonesia Stock Exchange was 34,536,595,510.

Resume Pencatatan Saham Perseroan Di Bursa Efek Indonesia Listing of the Company's Shares on the Indonesian Stock Exchange Tanggal Pencatatan di Bursa Listed

Jumlah Saham Total Shares

Akumulasi Jumlah Saham Accumulated Total Shares

Penawaran Perdana Initial Public Offering

28 Juli 1997 July 28, 1997

1.430.000.000

1.430.000.000

715.000.000.000

Penawaran Umum Terbatas I Rights Issue 1

3 Agustus 1999 August 3, 1999

4.004.000.000

5.434.000.000

1.115.400.000.000

Pengurangan Jumlah Saham Reverse Stock


1.358.500.000

1.115.400.000.000

8.151.000.000

9.509.500.000

1.930.500.000.000

Aksi Korporasi Corporate Action

Penawaran Terbatas II Rights Issue 2

22 September 2006 September 22, 2006

Jumlah Nominal Nominal Value (Rp)

Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu Capital Increase Without Preemptive Rights

05 Oktober 2009 October 5, 2009

507.508.598

10.017.008.598

1.981.250.859.800

Penawaran Terbatas III (Termasuk Pelaksanaan Waran Seri 1) Rights Issue 3 (Including Waran Seri 1 Excercise)

14 Januari 2010 January 14, 2010

18.525.896.412

28.542.905.010

3.833.840.501.000

Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu Pre-emptive rights issue


2.854.000.000

31.396.905.010

4.119.240.501.000

Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu Pre-emptive rights issue

29 Desember 2015 December 29, 2015

3.139.690.500

34.536.595.510

4.276.225.026.000


41


Profesi dan/atau Lembaga Penunjang Pasar Modal yang jasanya dipergunakan Perseroan untuk tahun 2016 antara lain sebagai berikut : Profesi atau Lembaga Penunjang Pasar Modal Profession or Capital Supporting Institutions

Profession and/or Capital Market Supporting Institutions which services are used by the Limited Liability Company for 2014 among others as follows: Alamat Address

Akuntan Publik/Public Accountant: Tanubrata Sutanto Fahmi Bambang & Rekan

Prudential Tower lantai 17 Jl. Jend.Sudirman Kav.79, Jakarta 12910, Indonesia Telp. +62 21 5795 7300 Fax. +62 21 5795 7301

Kantor Advokat/Lawyer Office: KAILIMANG & PONTO

Menara Kuningan Lt.14/A Jl. HR. Rasuna Said Blok X-7 Kav. 5, Jakarta 12940 Telp. +62 21 3001 2484, Fax. +62 21 3001 2485 Jasa yang diberikan: Membantu klien menjalankan tindakan internal korporasi & memberikan konsultasi/pendapat/advis dll. Honorarium: Rp. 30 juta untuk penggunaan jasa hukum 20 jam setiap bulan. Periode tahun 2016

Penilai/Appraisal: KJPP Jennywati, Kusnanto & Rekan

Plaza Bapindo Citibank Tower Lt.27 Jl. Jend Sudirman Kav.52-53, Senayan, Jakarta Selatan 12190 Telp. +62 21 526 0808, Fax. +62 21 526 6006

Penilai/Appraisal: KJPP Suwendho Rinaldy & Rekan

Rasuna Office Park WO 01-02 Rasuna Epicentrum, Jl. H.R. Rasuna Said - Kuningan Jakarta Selatan 12960 Telp. +62 21 8370 8028/3800 834, Fax. +62 21 351 9544

Notaris/Notary: Elizabeth Karina Leonita, SH., M.Kn.

Jl. Pengadilan No.23A Bogor Tengah 16121, Jawa Barat, Indonesia Telp. +62 251 835 6459

Biro Administrasi Efek/Security Administrations Bureau: PT Sirca Datapro Perdana

Wisma Sirca, Jalan Johar No.18, Menteng, Jakarta 10340, Telp. +62 21 390 0645, 390 5920, Fax. +62 21 390 0671, 390 0652 Jasa yang diberikan : Pemeliharaan Data Pemegang Saham dll. Fee per tahun adalah Rp.103.500.000.-

42



Penghargaan/Sertifikasi Awards/Certifications

Piagam penghargaan dari Indonesia My Home Award 2016, sebagai The Best Housing With Maximazing The Utilization of Land. Certificate of Appreciation from Indonesia My Home Award 2016 as The Best Housing With Maximazing The Utilization of Land.

Piagam penghargaan dari Majalah Housing Estate dalam ajang Green Property Award 2016, kategori Green Open Space & Green Waste Water Management Township. Certificate of Appreciation from Housing Estate Magazine in event Green Property Award 2016, Green Open Space & Green Waste Water Management Township category.

Piagam penghargaan dari Pusat Rekor Indonesia, kategori Properti & Developer Terbaik Certificate of Appreciation from the Indonesian Record Center, Best Properties & Developers category

Piagam penghargaan dari Majalah Property and Bank dalam ajang Property & Bank Award 2016, sebagai The Signature Township With Eco - Friendly and Green, kategori Township. Certificate of Appreciation from the Property and Bank Magazine in event Property & Bank Award 2016 as The Signature Township With Eco - Friendly and Green, Township category.


43

44


FASILITAS PENDUKUNG Support Facilities


45

Fasilitas Pendukung Support Facilities

Sekolah Nasional Plus BPK Penabur

Untuk menunjang konsep Kota Mandiri, Perseroan terus berupaya mengembangkan berbagai fasilitas pendukung dengan harapan dapat memberikan nilai tambah bagi kawasan Sentul City. To support self-sustaining town concept, the Company has established and built a wide range of supporting facilities to give more added value to Sentul City.

International Boarding School Pelita Harapan

1. Taman Budaya menjadi Taman Budaya Edutainment Center (TBEC) Berada dalam area 5 Ha, TBEC merupakan fasilitas rekreasi dan pendidikan terpadu yang sarat dengan berbagai fasilitas menarik. TBEC mempunya 4 pusat kegiatan (center) yaitu:

1. Culture Park as Edutainment Cater Culture Park (TBEC) Built on a 5 hectare area, TBEC provides public facility and integrated education with fully of interesting facilities.TBEC has 4 center of activities, namely:

1. Adventure Center : berisi kegiatan E k o Wi s a t a , O u t b o u n d , Experimental learning. 2. Green Center : terdiri dari Nature Center, Animal Ecosystem. 3. Cultural Center : fasilitas pembelajaran Seni dan Budaya, seperti membatik, musik. 4. Facility Center : fasilitas terpadu, termasuk akomodasi, restaurant dan tempat gathering

1. Adventure Center: Eco-Tour, Out bound, Experimental learning. 2. Green Center: Nature Center, Animal Ecosystem. 3. Cultural Center: Arts and Cultures learning facilities, such as preparing batik, music, etc. 4. Facility Center: integrated facility, including accommodation, restaurant and gathering

2. Fasilitas Pendidikan 2.1. International Boarding School Pelita Harapan Yayasan Pendidikan Pelita Harapan telah membangun dan mengelola sekolah Pelita Harapan di atas tanah seluas 10 hektar, yang telah beroperasi secara komersial pada tahun 1993. Sekolah ini mendidik siswa tingkat Sekolah Dasar hingga Sekolah Menengah Umum dengan

46


2. Education Facilities 2.1. Pelita Harapan International Boarding School Pelita Harapan International Boarding School Yayasan Pendidikan Pelita Harapan has built and managed Pelita Harapan International Boarding School on area of 10 hectare, commercially operated since 1993. The school includes elementary school until senior


Taman Budaya

Sekolah Islam Terpadu Fajar Hidayah

menggunakan kurikulum Indonesia dengan bahasa pengantar Indonesia dan Inggris.

high school, adopting Indonesian curriculum with Bahasa Indonesia and English as media of communication.

2.2. Sekolah Islam Terpadu Fajar Hidayah Dengan luas areal 8.000 m², saat ini sudah dibangun Sekolah Dasar sampai dengan Sekolah Menengah Pertama dan akan dikembangkan sampai Sekolah Menengah Umum. Fajar Hidayah menggunakan kurikulum nasional plus, yang berbasis Islam.

2.2. Fajar Hidayah Integrated Islamic School The school is built on an area of 8,000 m², consisting of Elementary School to Junior High School, and it is planned to build Senior High School. Fajar adopts national plus curriculum, based on Islam.

2.3. Sekolah Amal Kasih Dimiliki oleh Yayasan Amal Kasih, sekolah ini didirikan di areal seluas 2.000 m², dan dilengkapi dengan berbagai fasilitas pendidikan untuk tingkat Taman Kanak-Kanak sampai dengan Sekolah Dasar.

2.3. Sekolah Amal Kasih Owned by Yayasan Amal Kasih, the school is built on an area of 2,000 mZ, complete with learning facilities for Kindergarten and Elementary School students.

2.4 Sekolah Nasional Plus BPK Penabur Sekolah Kristen yang dikelola oleh Badan Pendidikan Kristen cabang Bogor ini, merupakan sekolah unggulan dengan kurikulum yang sangat maju. Perkembangan penambahan jumlah siswa yang demikian pesat sejak beroperasi pada tahun 2008, sehingga pembangunan terus dilanjutkan disertai penambahan luas lahan hingga mencapai hampir 1 Ha. Sekolah ini mendidik siswa tingkat Kelompok Bermain, Taman Kanak-Kanak, Sekolah Dasar dan untuk Sekolah Menengah Pertama akan mulai dibuka tahun ajaran 2012/2013.

2.4. Sekolah Nasional Plus BPK Penabur Christianity school managed by Badan Pendidikan Kristen (Christianity Education Board) Bogor Branch, which is a superior school with very advanced curriculum. Fast growing students within 2 years as of the operation in 2008, so the development can be continued and additional land up to 1 Ha. The school includes preschool, kindergarten and elementary school while junior high school is planned to be opened in the academic year of 2012/2013.

2.5 Kompleks Andalusia Islamic Centre Sentul City Sarana ini merupakan realisasi Sentul City dalam penyediaan fasilitas pendidikan dan keagamaan. Fasilitas pendidikan dan keagamaan Islami ini dikelola oleh Yayasan Pusat Islam Andalusia Bukit Sentul,

2.5. Sentul City Islamic Center This is a realization of Sentul City's commitment to providing Islamic education and religious facilities. It will be managed byYayasan Islamic Center Sentul City which is collaboration between Yayasan Tazkia,


47


Sentul Highlands Golf Club

yang merupakan kerjasama antara Yayasan Tazkia, Yayasan Daarut Tauhid, Yayasan Fajar Hidayah dan PT. Sentul City Tbk.

Yayasan DaarutTauhid,Yayasan Fajar Hidayah and PT. Sentul City Tbk.

Fasilitas ini terdiri atas 2 (dua) kegiatan utama yaitu Islamic Center dengan Masjid Andalusianya dan serta Sekolah Tinggi Ekonomi Islam (STEI) Tazkia. Total lahan kompleks ini adalah sekitar 2,4 hektar.

It is divided into 2 (two) main activities, namely Islamic Center with its Andalusia Mosque and Sekolah Tinggi Ekonomi Islam (STIE) Tazkia. Its construction has been 80% occupying an area of ± 2,4 hectare.

3. Sentul Highlands Golf Club Lapangan golf 18 holes ini semula bernama Padang Golf Satelindo, lalu berubah menjadi Padang Golf Mentari dan saat ini menjadi Sentul Highlands Golf Club, dirancang oleh Gary Player yang merupakan salah satu pegolf professional dan arsitek lapangan golf dengan reputasi internasional. Dibangun di atas tanah seluas kurang lebih 84 hektar, padang golf ini dilengkapi dengan club house, restoran, VIP meeting room, kolam renang dan lapangan tenis.

3. Sentul Highlands Golf Club This 18 holes golf court was formerly named Padang Golf Satelindo, and then renamed as Padang Golf Mentari and today it is named Sentul Highlands Golf Club, designed by Gary Player who is a professional golfer and internationally-reputable golf court architect. Built on an area of ±84 hectare, this golf court is equipped with club house, restaurant, VIP meeting room, swimming pool and tennis court.

48



Mall Bellanova

Kompleks Andalusia Islamic Centre Sentul City

4. Transportasi Umum Sarana transportasi bagi karyawan, para penghuni perumahan serta masyarakat umum dari atau menuju kawasan Sentul City, saat ini telah dibuka jalur APTB yang menghubungkan Sentul City ke tiga Terminal Utama Jakarta yaitu Blok M, Grogol dan Rawamangun p.p. Moda transportasi lain yang masuk ke kawasan Sentul City antara lain adalah ; Cileungsi, Cibubur, Citeureup, Sentul City, Laladon, Bubulak, PP rute trayek 05; Cileungsi, Cibubur, Citeureup, Sentul City, Ciawi PP rute trayek T02; Bogor- Sentul City PP rute trayek Trans Pakuan; Babakan Madang, Sentul City, Kandang Roda (Jalan Raya Jakarta Bogor) rute trayek 044A.

4. Public Transportation Transportation facilities for employees, house tenants and public communities from or to Sentul City are currently made available through the opening of Integrated Border Transit Busway access connecting Sentul City to three Main Terminals in Jakarta e.g. Blok M, Grogol and Rawamangun roundtrip. Other transportation modes to Sentul City area are;

Cileungsi, Cibubur, Citeureup, Sentul City, Laladon, Bubulak, Roundtrip Trajectory Route 05; Cileungsi, Cibubur, Citeureup, Sentul City, Ciawi Roundtrip trajectory route T02; Bogor-Sentul City Trans Pakuan Roundtrip Trajectory Route; Babakan Madang, Sentul City, Kandang Roda (Jakarta - Bogor Street) 044A trajectory route.

5. Pusat Penanggulangan dan Pembinaan Narkoba Terpadu Dimiliki dan dikelola oleh Yayasan Kasih Mulia yang dipimpin oleh Romo Lambertus Somar, MSc, Pusat Penanggulangan dan Pembinaan Narkoba Terpadu bernama Kedhaton Parahita ini dibangun di atas areal seluas 2 hektar dengan bangunan yang terdiri dari 2 bagian, yaitu Panti Rehabilitasi dan Wisma retreat berbintang lima.

5. Integrated Drugs Patient Care and Rehabilitation Center Owned and managed byYayasan Kasih Mulia with Romo Lambertus Somar, MSc, being director, the Integrated Drugs Patient Care and Rehabilitation Center called Kedhaton Parahita is built on an area of 2 hectare consisting of 2 buildings, yaitu Rehabilitation House and five-star retreat house.

6. Mall Bellanova Dibangun di areal seluas 43.000 m² dengan luas bangunan 12.000 m², Mall Bellanova merupakan pusat perbelanjaan bernuansa country berlokasi sangat strategis yaitu di pinggir tol Jagorawi dengan akses pintu tol sendiri. Selain dilengkapi dengan food court, Hypermart, Cinema 21, billiard Center, area entertainment keluarga dan ATM Center. Mall ini juga menawarkan konsep unik karena ditunjang pula dengan rekreasi outdoor di alam pegunungan.

6. Mall Bellanova Built on an area of 43,000 m² with building extent of 12,000 m², Mall Bellanova is a country-style shopping center located on a strategic area, namely at the edge of Jagorawi toll road which is accessible from the tollgate. Equipped with food court, Hypermart, Cinema 21, billiard Center and family entertainment area, this mall offers a unique concept supported with outdoor recreation in the mountain panorama.


49


SPBU Pertamina

Harris Hotel

7. Keamanan Sejak tahun 2005, Perseroan telah mengadakan pembaruan manajemen keamanan dengan komitmen untuk meningkatkan penjagaan keamanan dan melindungi penghuni serta pengunjung di kawasan Sentul City selama 24 jam. Hal tersebut ditunjang oleh anggota security yang terseleksi, terampil dan terpadu, yang ditunjuk sebagai pelaksana pelayananan keamanan di kawasan Sentul City.

7. Security Since 2005, the company upgraded its security management with a commitment to increasing security aspect and providing 24-hours protection for residents and visitors of Sentul City. It is supported by qualified and skilled security personnel who are assigned to maintain the security within Sentul City area.

8. SPBU Pertamina Merupakan sarana pengisian bahan bakar bagi penghuni dan pengunjung Sentul City, yang dilengkapi dengan bengkel, perawatan dan kios minyak pelumas. Keberadaan SPBU seluas total 1 ha ini, mempermudah warga dan pengunjung Sentul City untuk mengisi bahan bakar dengan lancar dan nyaman.

8. Pertamina gas station Serving as a filling station for residents and visitors of Sentul City, equipped with repair and maintenance shop and lube kiosk. With a total area of 1 ha, this filling station will allow residents and visitors of City to fuel their vehicles conveniently.

9. Terminal Bis Terminal bis ini dibangun untuk melayani warga Sentul City yang menggunakan transportasi umum untuk kemudahan mobilitas warga dan pengunjung baik ke Jakarta maupun ke Bogor dan sebaliknya.

9. Bus Station The newly-constructed Bus Terminal will serve the residents of Sentul City making use of public transportation to allow ease of mobility of the residents and visitors to Jakarta or Bogor and vice versa.

Secara internal kawasan, moda transportasi umum dilayani oleh kendaraan angkutan mini yang secara terjadual mengelilingi seluruh penjuru kawasan Sentul City.

The public transportation mode is internally served by mini transport vehicles with scheduled operation all over the corners of Sentul City area.

10.Water Treatment Plant (WTP) Dibangun di atas lahan seluas 2 hektar sebagai prasarana utama bagi kawasan dengan debit 80 liter/detik. WTP ini memperoleh bahan baku dari air hujan dan sungai pada musim penghujan, yang ditampung pada danau seluas 4 hektar. Pengolahan ini menghasilkan standar mutu air yang tinggi dan siap diminum dan disalurkan ke setiap rumah melalui sistim gravitasi. Selain sumber air dari WTP ini, kawasan Sentul City juga mendapatkan

10.Water Treatment Plant (WTP) Built on an area of 2 hectare with water flow of 80 liter/sec. This WTP is supplied by rainwater and river during rainy season, where the water is accommodated on a 4 hectare reservoir. This treatment plant produces high quality potable water and distributed to each house via gravitational system. In addition to this WTP, Sentul City is supplied from PDAM Bogor via company-invested pipelines with investment value of Rp 22 billion, having

50



Sentul International Convention Center

pasokan PDAM Bogor melalui jaringan pipa air yang diinvestasikan oleh Perseroan dengan total nilai investasi Rp 22 miliar, yang memiliki kapasitas 200 liter per detik.

Hotel neo + Green Savana

capacity of 200 liter per second.

11.Sewage Treatment Plant Sewage Treatment Plant (STP) ini merupakan sistem Pengolahan Air Kotor Buangan Rumah Tangga yang dibangun di atas lahan seluas 14.860 meter persegi, dengan kapasitas 1200 M³/hari. Effluen dari STP dapat dimanfaatkan untuk penyiraman taman.

11.Sewage Treatment Plant This Sewage Treatment Plant (STP) is built on an area of 14,860 square meter, having capacity of 1,200 M³/day. The STP effluent is made use for garden watering.

12.Indomart Merupakan fasilitas belanja tingkat lingkungan yang memudahkan warga kompleks perumahan untuk berbelanja berbgai kebutuhan pokok atau harian. Fasilitas ini dibangun di dekat Alam Fantasia, dan memiliki lapangan parkir yang luas.

12.Indomart This is residential-level shopping facility to allow residents to obtain their daily needs. It is built near Alam Fantasia, and equipped with wide parking area.

13. Ruko Ruko merupakan sarana usaha dan sekaligus dapat berfungsi sebagai rumah tinggal dilantai atasnya. Di kawasan Sentul City telah dibangun sekitar 340 ruko dengan berbagai ukuran dan tipe di 4 kluster (Plaza Niaga 1, Plaza Niaga 2, Plaza Amsterdam dan Plaza Victoria). Usaha-usaha yang menempati ruko-ruko tersebut antara lain rumah makan, bar, café, toko-toko, kantor, klinik, apotik, salon, gym, pijat reflekxiology dan aneka usaha lainnya.

13.Shophouse It serves as store with living space on the upstair floor. There are about 340 ruko built in Sentul City with different sizes and types consisting of 4 clusters (Plaza Niaga 1, Plaza Niaga 2, Plaza Amsterdam dan Plaza Victoria). Business activities taking place in that ruko includes restaurant, bar, cafe, shops, offices, clinic, pharmacy, salon, gym, reflexology and other undertakings.

14.Rainforest Hotel Spa yang dilengkapi dengan fasilitas 33 kamar, kolam renang, karaoke, café & resto, function room dan meeting room yang juga dapat dipergunakan untuk pesta ulang tahun/perkawinan.

14.Rainforest Hotel It is a spa consisting of 33 rooms, swimming pool, karaoke, café and restaurant, function room and meeting room that can also be used for birthday / wedding party.

15. Sentul International Convention Center (SICC) Gedung serba guna ini memiliki kapasitas 12.000 orang dan telah beroperasi sejak Desember 2008. Berbagai

15.Sentul International Convention Center (SICC) This multipurpose building accommodates 12,000 persons and started operation since December 2008. Many


51


Marketing Gallery

kegiatan yang dapat dilaksanakan di Gedung ini adalah konser musik, seminar dan lain-lain.

activities can be held in this place, including music concert, seminar, and so on..

16. Sentul City Off Road Park Difokuskan pada pelatihan off road dan otomotif ditambah dengan penyelenggaraan acara-acara yang dapat menarik dan menghibur. Sentul City Off Road Park tersebut menempati areal seluas lebih kurang 10 hektar.

16.Sentul City Off Road Park It emphasizes on the off road automotive training plus attractive entertainments. The Sentul City Off Road Park occupies an area of ± 10 hectare.

17.Marketing Gallery Dengan luas bangunan 2.800 m² diatas lahan 1 Ha, MG sudah mulai beroperasi pada awal tahun 2010. Gedung ini juga berfungsi sebagai kantor operasional terpadu untuk PT Sentul City Tbk. Dengan dilengkapi taman tematik "Knowledge Garden" dan akan terkoneksi dengan Eco Park, maka gedung ini akan menjadi salah satu icon pengembangan Sentul City yang merepresentasikan City of Innovation dengan 4 pilar pengembangannya.

17.Marketing Gallery (MG) With the building extent of 2,800 m² upon 1 Ha land, MG commenced operating at the early 2010. The Building is functioned as integrated operational office for PT Sentul City Tbk. Completed with thematic part "Knowledge Garden" and will be connected with Eco Park, the building will be one of the icon of Sentul City development representing City of Innovation with 4 pillars of its development.

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SICC Office Tower

Ecoart Park

Pasar Bersih

18. Jalan Tol Bogor Outer Ring Road Dengan beroperasinya jalan tol sepanjang ± 3,8 kilometer ini merupakan jalan alternatif menuju Sentul City dari Bogor maupun sebaliknya, sehingga jarak tempuh dari Sentul City ke Kota Bogor ± hanya 5 menit dan diperkirakan akan meningkatkan lalu-lintas dari dan ke Sentul City menjadi 23.000 kendaraan per hari.

18.Bogor Outer Ring Road With the operation of toll road for the length of ± 3,8 kilometers which is an alternative way to Sentul City from Bogor or vice versa, so the range from Sentul City to Bogor City will only take ± 5 minutes and expected to start the traffic from and to Sentul City into 23,000 vehicles per day.

19.SICC Office Tower Gedung bertingkat 12 lantai dengan luas ± 7000 meter persegi ini mulai dibangun bulan Oktober 2008 dan beroperasi 2010.

19.SICC Office Tower This 12-floor building with ± 7000 sqm area is built since October 2008 and to be operated in 2010.

20.Bank Bank yang telah membuka kantor di Kawasan Sentul City adalah Bank CIMB Niaga, Bank Jasa Jakarta dan Bank Mandiri, Bank Syariah Mandiri, BRI, BNI Syariah & Bank BNI.

20.Banks Banks that are available in Sentul City area are Bank CIMB Niaga, Bank Jasa Jakarta, Bank Mandiri, Bank Syariah Mandiri, BRI, and BNI Syariah.

21.Redy Rahadian Studio Studio pembuatan patung dari seniman Redy Rahadian

21.Redy Rahadian Studio Sculpture studio owned by artist Redy Rahadian

22.Harris Hotel Harris Hotel merupakan Hotel bintang 3+ yang dibangun di lokasi paling strategis di Central Bussiness Districk Sentul City, tidak jauh dari pintu masuk tol Sentul City. Hotel yang berada pada lahan seluas 12.498 m² ini pada tahap pertama telah memiliki 160 kamar. Dengan beroperasinya Hotel tersebut semakin melengkapi fasilitas yang berada kawasan Sentul City.

22. Harris Hotel Harris Hotel is a 3+ star hotel which is built in the most strategic location at Central Bussiness District Sentul City not far from Sentul City toll entrance gate. The hotel occupying an area of 12,498 m² has operated 160 rooms during its first phase. The existence of this hotel completes the existing facilities of Sentul City.

23. Ecoart Park Bersebelahan dengan lokasi Pasar Ah Poong Sentul City, Ecoart Park merupakan taman pendidikan yang dilengkapi dengan permainan yang memiliki makna pendidikan ilmiah bagi anak anak dengan cara yang menyenangkan karena disamping belajar anak anak dapat bermain

23.Ecoart Park Situated adjacent to Ah Poong Market Sentul City, Ecoart Park is an educational park that comes with games for scientific education intended for children to learn in fun way. Combined with high value of art works.


53


Pasar Ahpoong Sentul City

dengan peralatan ini. Dipadukan dengan hasil karya seni yang mempunyai nilai seni yang tinggi. 24. Pasar Ah Poong Sentul City Dengan memanfaatkan potensi alam sungai cikeas dipadukan dengan kekayaan resep tradisional Indonesia, Pasar Ah Poong Sentul City menjadi tujuan wisata baru di kawasan Sentul City dan merupakan Pasar Apung pertama di wilayah Jabodetabek.

24.Ah Poong Market Sentul City Taking the advantage of natural potentis of Cikeas river and in combination with Indonesian traditional recipes Ah Poong Market Sentul City has become new tourist destination in Sentul City and is the first Floating Market in the Greater Jakarta area.

25. Hotel Neo + Green Savana Berlokasi di sebelah Taman Budaya , Hotel ini memiliki konsep green roof yang tidak dimiliki oleh berbagai hotel lain. Menyediakan fasilitas hotel bintang 3 dengan jumlah 70 kamar dan ruangan meeting dengan kapasitas 300 pax .

25.Neo + Green Savana Hotels Situated next to the Cultural Park the Hotel adopts green roof concept which cannot be found in other hotels. With 3 star facilities the Hotel has a total of 70 rooms and a meeting room with a capacity of 300 pax.

26. Rumah Sakit Pertamedika Sentul Rumah sakit internasional berlokasi di CBD Sentul City, seluas 2,5 hektar untuk tahap I.

26.Sentul Pertamedika Hospital This is an International hospital situated in CBD Sentul City occupying 2.5 hectares area during phase I.

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Rumah Sakit Pertamedika Sentul

Giant Extra

27.Giant Extra Giant adalah jaringan toko swalayan yang memiliki banyak cabang di Indonesia. Selain department store yang menjual produk sandang dan makanan, Giant juga memiliki supermarket atau pasar swalayan yang menjual kebutuhan sandang dan barang kebutuhan hidup seharihari, yang mulai beroperasi 20 Desember 2013.

27.Giant Extra Giant is a self-service stores network throughout Indonesia. In addition to operating a department store which sells clothing and foods Giant is also operating a supermarket that sells clothing and basic necessities which has been operating since December 20, 2013.

28.Pasar Bersih Pasar yang menyediakan berbagai kebutuhan pokok sehari-hari termasuk berbagai macam jajanan dan menu untuk sarapan.

27.Pasar Bersih The market provides a variety of basic daily needs, including a wide variety of snacks and menus for breakfast.


55

56


ANALISIS DAN PEMBAHASAN MANAJEMEN Management Discussion & Analysis


57

Analisis dan Pembahasan Manajemen Management Discussion & Analysis

Umum Pertumbuhan ekonomi Indonesia pada tahun 2016 ada pada kisaran angka 5,02 persen adalah lebih baik dibandingkan pertumbuhan tahun sebelumnya. Meskipun pertumbuhan tersebut belum seperti yang diharapkan kita patut mensyukuri atas pencapaian tersebut. Pada tahun yang baru berakhir pemerintah telah merealisasikan pembangunan infrastruktur secara luar biasa diseluruh pelosok tanah air. Pemerataan pembangunan infrastruktur tersebut diharapkan akan memacu pertumbuhan ekonomi nasional ditahun ini. Bahkan Target pertumbuhan ekonomi tahun ini sebesar 5,1% tercantum dalam Anggaran Pendapatan dan Belanja Negara (APBN) 2017.

General In 2016, Indonesia's economic growth was around 5.02 percent, which was better compared to growth in the previous year. Although the growth is not as expected, we ought to be thankful for such achievement. In the year just ended, the government has realized infrastructure development in an extraordinary way in the entire country. An evenly distributed infrastructure development is expected to trigger national economic growth this year. Even, economic growth target this year is only 5.1% as stated in the 2017 State Revenue and Expenditure Budget (APBN).

Berbagai faktor yang memicu optimisme bertumbuhnya sektor properti pada tahun 2017 ini adalah i). pertumbuhan ekonomi diperkirakan lebih baik; ii). Indonesia merupakan negara dengan nilai produk domestik bruto (PDB) terbesar se-Asia Tenggara; iii).Indonesia memiliki bonus demografi dengan jumlah penduduk terbanyak se-Asia Tenggara dan nomor empat di dunia; iv). Jumlah kelas menengah yang terus bertumbuh; v). harga properti di Indonesia masih cukup rendah dibanding negara ASEAN lainnya; vi). pemerintah terus melanjutkan pembangunan infrastruktur sehingga potensi pasar properti diprediksi masih positif; vii). suku bunga KPR/KPA diperkirakan menurun tahun ini; viii). penurunan suku bunga kredit akan mendorong penjualan properti; ix). Inflasi cenderung terkendali.

Several factors which trigger the optimism for growth in property sector in 2017 are as follows: i). Economic growth is expected to improve; ii). Indonesia is the country with the largest gross domestic product (GDP) value in Southeast Asia; iii). Indonesia has demographic bonus with the largest population number in Southeast Asia and the fourth largest in the world; iv). The continuously growing number of middle-class people; v). Property price in Indonesia is still relatively low compared to other ASEAN countries; vi). The government continues to implement infrastructure development so that property market potentials are predicted to remain positive; vii). Home Loan/Apartment Loan interest rates are expected to decrease this year; viii). The decrease in credit interest rates will encourage property sales; ix). Inflation tends to be in control.

Selain hal-hal tersebut di atas Perseroan optimis atas pasar properti tahun ini, adalah karena semakin dekatnya realisasi Penyelenggaraan Kereta Api Ringan atau Light Rail Transit Terintegrasi Di Wilayah Jakarta, Bogor, Depok dan Bekasi, sebgaimana Peraturan Presiden Republik Indonesia Nomor 98 tahun 2015 dan mulai dibangunnya AEON MALL, seluas 103.350 meter persegi, di selatan Jakarta, yang merupakan realisai Perjanjian Sewa Menyewa (Master Lease Agreement) oleh dan antara Perseroan dan PT AEON MALL Indonesia.

In addition to the aforementioned matters, the Company's optimism with regard to the property market this year is due to the approaching realization of the Integrated Light Rail Transit in Jakarta, Bogor, Depok,and Bekasi Area, as stated in Regulation of the President of the Republic of Indonesia Number 98 year 2015 and the commencement of construction of AEON MALL, with an area size of 103,350 square meters, located in the area south of Jakarta, which constitutes the realization of Master Lease Agreement by and between the Companyand PT AEON MALL Indonesia.

1. Tinjauan Operasi per Segmen Usaha Perseroan dikelompokkan menjadi 2 (dua) segmen yaitu segmen utama di bidang real estate dan segmen lainnya yang terdiri dari pengelolaan kota, kegiatan wisata, hotel dan restoran. Pendapatan bersih dan Laba bersih tahun berjalan dari dua segmen usaha tersebut sebagai berikut :

1. Operations Review by Segment The Company's business is categorized into 2 (two) segments, namely the main segment in the field ofreal estate andthe other segment consisting of town management and tourism, hotel,andrestaurant activity. Net Revenues and Net Income for the current year from the two business segments are as follows:


Pendapatan Bersih Total Shares 2016 Rp (Juta/million)

Segmen Utama Segmen Lainnya

2015* Rp (Juta/million)

Laba (rugi) bersih tahun berjalan Profit (loss) of the current year Pertumbuhan/ Growth

2015* Rp (Juta/million)

Pertumbuhan/ Growth

1.070.974

430.306

149%

529.054

59.262

793%

135.601

129.495

5%

33.373

2.412

1283%

Total 1.206.575 116% 559.801 *) disajikan kembali untuk untuk disesuaikan dengan laporan keuangan 2016

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2016 Rp (Juta/million)


812% 61.674 562.427 *) Restated to conform to the financial statement for 2016


2. Tinjauan Keuangan Dari tabel di atas total pendapatan bersih yang dicapai Perseroan dalam tahun 2016 mengalami kenaikan sebesar Rp 647 Miliar atau sebesar 116% dari pendapatan bersih dari tahun sebelumnya, yang mayoritas berasal dari kenaikan pendapatan utama perusahaan. Kenaikan Laba Bersih tahun berjalan sebesar Rp 501 miliar atau 812% dari tahun sebelumnya. Peningkatan laba bersih tersebut terutama berasal dari penjualan Tanah (block sales) dan pengakuan keuntungan atas pengalihan dari persediaan ke properti investasi. Aset Pada akhir tahun 2016 total aset Perseroan adalah sebesar Rp.11.359 miliar , meningkat sebesar 2% dibandingkan tahun 2015. Dari jumlah tersebut aset lancar mengalami penurunan sebesar 4% sedangkan asset non lancar meningkat 6%.

2. Financial Review Based on the above table, the amount of total net revenues of the Company in 2016 has increased by Rp 647 Billionor 116% of net revenues in the previous year, mostly originated from an increase in the company's main revenues. The increase in Net Income for the current year was Rp 501 Billionor 812% from the previous year. The increase in net income mainly originated from the sale of Land (block sales) andrecognition of gain on transfer from inventories to investment properties.

Assets At the end of 2016, the amount of total assets of the Company was Rp 11,359 Billion, increased by 2% compared to in 2015. Of the amount, current assets decreased by 4% whilenon-current assets increased by 6%.


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Liabilitas Total liabilitas Perseroan pada akhir tahun 2016 adalah sebesar Rp 4.199 miliar, turun Rp 397 miliar turun atau 9% dibandingkan posisi liabilitas pada akhir tahun 2015. Dari jumlah tersebut hutang lancar turun 12% sedangkan hutang jangka panjang turun 1%.

Liabilities The amount of total liabilitiesof the Company at the end of 2016 was Rp 4,199 Billion, decreased by Rp 397 Billion 9% compared to the position of liabilities at the end of 2015. Of the amount, short-term liabilities decreased by 12% while long-term liabilities decreased by 1%.

Ekuitas Pada akhir tahun 2016, total ekuitas Perseroan tercatat sebesar Rp 7.160 miliar, naik Rp 611 Miliar atau 10% dibandingkan jumlah ekuitas di akhir tahun 2015. Peningkatan tersebut berasal dari peningkatan laba tahun berjalan dan peningkatan kepentingan non pengendali.

Equity At the end of 2016, the amount of total equity of the Company was recorded at Rp 7,160 Billion, increased by Rp 611 Billionor 10% compared to total equity at the end of 2015. The increase originated from an increase in profit for the current year and an increase in non-controlling interest.

Laba Bruto Laba bruto tahun 2016 sebesar Rp 739 miliar, naik Rp. 510 milyar atau 222% dibandingkan dengan laba bruto tahun sebelumnya. Secara prosentase laba bruto tahun 2016 terhadap penjualan sebesar 61,06%, naik sebesar 20% dibanding tahun sebelumnya sebesar 41%. Kenaikan tersebut terutama berasal dari penjualan Tanah (block sales) dan pengakuan keuntungan atas pengalihan dari persediaan ke properti investasi.

Gross Profit The amount of gross profit in 2016 was Rp 739 Billion, increased by Rp 510 Billion or 222% compared to gross profit in the previous year. In terms of percentage, gross profit in 2016 was 61.06% of sales, increased by 20% compared to 41% in the previous year. The increase mainly originated from the sale of Land (block sales) andrecognition of gain on transfer from inventories to investment properties.

Laba Komprehensif Laba komprehensif Perseroan meningkat pada tahun 2016 sebesar Rp 496 miliar. Peningkatan tersebut terutama berasal dari peningkatan laba bruto, penurunan beban keuangan dan pendapatan komprehensif lainnya.

Comprehensive Income Comprehensive income of the Company has increased by Rp 496 Billion in 2016. The increase mainly originated from an increase in gross profit, a decrease in financial expenses,andother comprehensive income.

3. Solvabilitas Solvabilitas yang menunjukkan kemampuan perseroan dalam memenuhi seluruh kewajibannya, yang diukur dengan debt to asset ratio (DTA), dalam tahun 2016 DTA perseroan sebesar 37% turun dari tahun sebelumnya sebesar 41.23%. Penurunan ratio tersebut dikarenakan pelunasan pinjaman.

3. Solvability Solvabilityindicates the company's ability to fulfill all its obligations, measured by the debt to asset ratio (DTA),whereby in 2016, the company's DTA was 37%, decreased from 41.23% in the previous year. The decrease in the ratio was due to loan settlement.

Rentabilitas Rasio rentabilitas merupakan ukuran yang umum digunakan dalam mengukur efektifitas pengunaan aset/imbal hasil aset perseroan. Ratio tersebut dihitung sebagai perbandingan laba bersih periode berjalan dengan total aset Perseroan (ROA). Untuk tahun 2016 ROA perseroan sebesar 5% sedangkan tahun sebelumnya 0,55% yang menunjukan peningkatan sebesar 4,45%.

Profitability Profitability ratio is a commonly used measurement for measuring the effectiveness of asset utilization/return on assets of the company. The ratio is calculated as the comparison between net income for the current period and total assets of the Company (ROA). In 2016,the company's ROA was 5% while in the previous year it was 0.55%, which indicated an increase of 4.45%.

4. Kolektibilitas Piutang Kolektibilitas piutang menunjukkan peningkatan dibanding tahun sebelumnya. Umur piutang usaha Perseroan tahun 2016 selama 224 hari lebih rendah dari tahun sebelumnya selama 359 hari.

4. Collectibility of Receivables Collectibility of receivables shows improvement compared to the previous year. The age of account receivables of the Company in 2016 was 224 days, shorter than 359 days in the previous year.

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Perseroan dan Anak Perseroan telah mencadangkan penyisihan kerugian penurunan nilai piutang sejumlah Rp 69,215 miliar dan Rp 70,097 miliar masing-masing pada tanggal 31 Desember 2016 dan 2015. Manajemen Perseroan berpendapat bahwa penyisihan piutang ragu-ragu tersebut memadai untuk menutupi risiko kerugian yang mungkin timbul dari tidak tertagihnya piutang usaha tersebut.

The Company and Its Subsidiaries have set aside allowance for impairment losses in the amount of Rp 69.215 Billionand Rp 70.097 Billionon December 31, 2016 and 2015, respectively. The management of the Company is of the opinion that the allowance for doubtful accounts is adequate to cover the risk which may occur from the uncollectible account receivables.

5. Struktur Permodalan Modal ditempatkan dan disetor Perseroan terdiri atas saham Seri A, saham Seri B, saham Seri C dan Saham Seri D dengan nilai nominal per saham masing-masing Rp 2.000, Rp 400, Rp 100, dan Rp 50. Tidak ada perbedaan dari saham Seri A, B, C dan D dalam hal kuasa dan wewenang, hak dividen dan, hak saat likuidasi.

5. Capital Structure Issued and fully paid-in capital of the Company consists of ASeries shares, B Series shares, C Series shares,andD Series shares with nominal value of Rp 2,000, Rp 400, Rp 100, and Rp 50, respectively, per share. There is no difference between A, B, C,and D Series shares in terms of power and authority, dividend rights, and liquidation rights. Capital structure in 2016 is as follows:

Struktur permodalan tahun 2016, adalah sebagai berikut : Harga / Saham Rp Price per Shares Rp

Seri A

2000

357.500.000

Seri B

400

1.001.000.000

400.400.000.000

Seri C

100

30.038.405.010

3.003.840.501.000

Seri D

50 Total

Jumlah Saham Number of Shares

Total Nilai Saham Rp Total Shares Rp

Jenis Saham Type of Shares

715.000.000.000

3.139.690.500

156.984.525.000

34.536.595.510

4.276.225.026.000

6. Ikatan Material Perseroan mempunyai beberapa perikatan penting dengan pihak ketiga. Pada tanggal 20 September 2015 Perseroan dan PT AEON Mall Indonesia menandatangani perjanjian sewa seluas +/-103.350 m2dikawasan Sentul City, Bogor dengan jangka waktu 20 tahun sejak serah terima bangunan yang diperkirakan selesai dibangun pada April 2018.

6. Material Contracts The Company has several significant contracts with third parties. On September 20, 2015, the Companyand PT AEON Mall Indonesia signed a lease agreement for an area size of +/- 103,350 m2 in Sentul City area, Bogor with tenor of 20 years since the handover of building, which is estimated to be completed in April 2018.

Pada tanggal 1 Februari 2016, Perseroan dengan PT PP Properti Tbk membentuk perusahaan patungan dengan nama PT Sentul PP Properti dengan penyertaan modal awal sebesar Rp 100.000.000.000. Kontribusi modal Perseroan dalam Perseroan patungan tersebut sebesar Rp 51.000.000.000 atau sebesar 51%.Tujuan pembentukan Perseroan patungan adalah untuk melakukan kegiatan usaha jasa, pembangunan dan perdagangan.

On February 1, 2016, the Company and PT PP Properti Tbk established a joint venture under the name of PT Sentul PP Properti with initial capital participation of Rp 100,000,000,000. The Company's capital contribution in the joint venture Company is Rp 51,000,000,000 or 51%. The objective of establishment of the joint venture Company is to perform service, construction, and trading business activities.

Pada tanggal 25 Januari 2016, Perseroan dan Group 70 International membentuk usaha patungan dengan nama PT Group Seventy Asia. Kontribusi modal Perseroan dalam Perseroan patungan tersebut adalah sebesar 45%.Tujuan pembentukan Perseroan patungan

On January 25, 2016, the Company and Group 70 International established a joint venture under the name of PT Group Seventy Asia. The Company's capital contribution in the joint venture Company is 45%. The objective of establishment of the joint venture


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adalah untuk melakukan kegiatan usaha jasa arsitektur, interior design, teknik sipil, konsultasi teknik dan perencanaan induk.

Company is to perform architectural service, interior design, civil engineering, engineering consulting, and master planning business activities.

7. Informasi dan Fakta Material yang terjadi setelah tanggal laporan posisi keuangan Pada tanggal 7 Februari dan 17 Pebruari 2017, Perseroan menyelenggarakan RUPS terkait dengan Rencana Perusahaan untuk melakukan Penawaran Umum Terbatas IV (PUT IV) dengan Hak Memesan Efek Terlebih Dahulu (HMETD). Hasil dari PUT IV tersebut akan digunakan untuk melakukan akuisisi 99,99% atau sebanyak 2.017.499 saham PT Graha Sejahtera Abadi yang dimiliki oleh PT Sakti Generasi Perdana, selebihnya digunakan untuk modal kerja.

7. Material Informationand Facts after the date of the statement of financial position On February 7andFebruary17, 2017, the Company held a General Shareholders Meeting related to the Company's Plan to hold the Right Issue IV (PUT IV) with Pre-Emptive Rights (HMETD). The result of PUT IV will be used for the acquisition of 99.99% or2,017,499 shares of PT Graha Sejahtera Abadi held by PT Sakti Generasi Perdana, and the remaining amount will be used as working capital.

8. Prospek Usaha Dengan bergesernya konsentrasi pengembangan infrastruktur ke arah Selatan Jakarta, yang ditandai dengan dicanangkannya pengembangan tol Bogor Ciawi Sukabumi (Bocimi) serta dimulainya pembangunan LRT dari Cawang sampai kota Bogor; maka tidak dapat dipungkiri lagi bahwa Perseroan mempunyai prospek yang sangat baik di masa mendatang. Pengembangan infrastruktur yang masif menandakan bertumbuhnya jumlah penduduk serta bangkitan ekonomi yang besar, hal ini terlihat dengan semakin banyaknya fasilitasfasilitas baru dan hunian-hunian yang terbangun; yang mana hal-hal tersebut terlihat secara kasat mata di Kawasan Sentul City.

8. Business Prospect With the shift in the concentration of infrastructure development towards the area South of Jakarta, as indicated by the announcement of the development of Bogor Ciawi Sukabumi (Bocimi) toll road and the commencement of construction of LRT from Cawang to Bogor city, it cannot be denied anymore that the Company has an excellent prospect in the future. Massive infrastructure development indicates the growth in population number and significant economic revival, as indicated by the mushrooming new facilitiesand construction of residential houses, which can be seen with the naked eye in Sentul City Area.

Berikut ini, beberapa indikator penting yang berkaitan dengan prospek usaha Perseroan kini dan masa mendatang, sebagai berikut :

The following are several important indicators related to the Company's business prospect in the present and in the future, namely as follows:

A. Faktor Perkembangan Regional dan Infrastruktur Pertumbuhan penduduk, meningkatnya kelas menengah serta pesatnya perkembangan industri properti di kawasan Jabodetabek telah mengakibatkan meningkatnya kebutuhan sarana hunian serta produk properti lainnya.

A. Regional and InfrastructureDevelopment Factor Population growth, increasing middle class and the rapid development in the property industry in Jabodetabek area have caused an increase in the demand for residential facilities and other property products.

Beberapa hal yang sangat penting dalam mendorong perkembangan pesat Perseroan adalah :

Several crucial factors which support the Company's rapid development are as follows:

1. Pembangunan Jalan Sentul - Cipanas; yang mana pembangunannya telah dimulai dan progress lapangan sudah mencapai lebih dari 10 km. Jalan baru tersebut akan menjadi akses alternatif menuju Cipanas sekaligus membuka akses baru ke Sentul City dari arah Utara dan Timur mendekati rotunda JLA. 2. Pembangunan Tol Bogor - Ciawi - Sukabumi (Bocimi) yang telah mulai, merupakan proyek yang sangat strategis untuk Sentul City,

1. Construction of Sentul - Cipanas Road, the construction of which has been commenced and the progress on sitehas reached more than 10 km. The new roadwill become an alternative access to Cipanas and at the same time open a new access to Sentul City from North and East towards the JLA rotunda. 2. Construction of Bogor - Ciawi - Sukabumi (Bocimi) Toll Road which has been commenced is a highly strategic project for Sentul City,considering the

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mengingat semakin terbukanya aksesibilitas dari kawasan Selatan Bogor - Sukabumi menuju area Sentul City. Hal tersebut akan mengakibatkan semakin besarnya pangsa pasar yang diperoleh Perseroan, baik dari sisi hunian maupun kegiatan komersial dan juga wisata. 3. Pencanangan pembangunan Light Rail Transit (LRT) yang merupakan sarana transportasi masal terintegrasi Jabodetabek akan mempermudah daya jangkau dari dan ke kawasan Sentul City, sehingga akan meningkatkan jumlah rumah terhuni dalam kurun waktu yang singkat. 4. Mulai terbatasnya lahan di Barat Jakarta, serta konsentrasi perkembangan industri di Timur Jakarta, menjadikan kawasan Selatan Jakarta khususnya kawasan Sentul City menjadi pilihan utama di masa kini dan mendatang.

increasingly open accessibility from the area South of Bogor - Sukabumi towards Sentul City area. This will result in an increase in the market share captured by the Company, in terms of residential houses as well as commercial and tourism activities. 3. Announcement of the construction of Light Rail Transit (LRT) which constitutes an integrated mass transportation facility in Jabodetabek, which will improve accessibility from and to Sentul City area, and therefore will increase the number of occupied houses within a short time frame. 4. Availability of land in the area West of Jakarta, which is becoming more limited, and concentration of industry development in the area East of Jakarta, has made the area South of Jakarta, in particular Sentul City area, the main choice in the present and in the future.

B. Faktor Topografi dan Iklim 1. Secara tata ruang, kawasan Sentul City yang berada di ketinggian rata-rata 300-500 meter di atas permukaan laut mempunyai karakter

B. Topographic and Climate Factor 1. In terms of spatial plan, Sentul City area, which is located at the altitude of 300-500 meter above sea level on average, has the ideal


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yang ideal untuk segala jenis pengembangan properti terlebih lagi untuk hunian, kawasan Sentul City sarat dengan penghijauan sesuai dengan tata ruang yang mengindikasikan 65% kawasan sebagai penghijauan. 2. Kondisi tersebut menjadikan Sentul City mempunyai nilai lebih dari sisi estetika kawasan yang berujung pada semakin tingginya harga properti di kawasan Sentul City.

character for all types of property development, particularly for residential area, since Sentul City area is equipped with greeneries in accordance with the spatial plan which indicates 65% of its total area as greeneries. 2. Such condition has provided Sentul City with value added in terms of aesthetics, which eventually leads to higher property price in Sentul City area.

C. Faktor Daya Serap Pasar Daya serap pasar perumahan kelas menengah dan atas di area Bogor dan sekitarnya adalah berkisar 1.000 unit per bulan dengan kisaran harga Rp 300 juta sampai Rp 1,5 miliar. Perseroan membidik segmen mulai dari Rp 500 juta ke atas.

C. Market Absorption Factor Market absorption for middle and upper class hosing in Bogor and its surrounding areas is approximately 1,000 units per month at the price ranging from Rp 300 Million to Rp 1.5 Billion. The Company is targeting the segment with the price of Rp 500 Millionand above.

Dengan strategi menghentikan penjualan unit tanah kavling dan hanya memasarkan unit tanah & bangunan, maka perkembangan fisik makin terlihat lebih nyata di kawasan Sentul City, sehingga kepercayaan konsumen semakin hari semakin besar. Hal mana juga terlihat dari makin meningkatnya harga tanah di secondary market dari rata-rata Rp 7 juta per M² tahun lalu, sekarang rata-rata Rp 9 juta per M²nya, bahkan di beberapa lokasi sudah mencapai lebih dari Rp 12 juta per M².

With the strategy of discontinuing the sale of land plots and only marketing land & building units, physical development has been becoming more obvious in Sentul City area, and therefore consumer trust is increasing day by day. It is also indicated by the increasingly higher price of land in thesecondary marketfrom Rp 7 Million per m² on average in the previous year to currently Rp 9 Million per m² on average, and even, in some locations, the price has exceeded Rp 12 Million per m².

D. Faktor Lokasi dan Aksesibilitas Selain jaringan eksisting tol Jagorawi dan tol Bogor Ring Road; saat ini sudah mulai dikembangkan jalan Poros Tengah - Timur yang membuka alternatif area Sentul ke Cipanas; jalan tersebut merupakan rencana Pemerintah Pusat untuk mengantisipasi perkembangan area Jonggol dan berhubungan langsung dengan akses ke Cianjur, Bekasi dan Cikarang.

D. Location and Accessibility Factor In addition to the existing networks of Jagorawi toll road and Bogor Ring Road toll road, at this moment the Center - East road axis, which opens an alternative road from Sentul area to Cipanas, has commenced the development; this road is part of the Central Government plan to anticipate the development in Jonggol area and is directly connected to access road to Cianjur, Bekasi,and Cikarang.

Selain itu rencana jaringan tol baru yang merupakan perpanjangan tol Jagorawi ke arah Sukabumi, Cianjur dan Bandung yang merupakan jaringan tol poros Selatan Jawa; hal tersebut menjadikan kawasan Sentul City akan menjadi sangat strategis dan makin mudah diakses baik dari arah Utara, Barat, Timur dan Selatan.

In addition to that, the planned new toll road network constitutes an extension of the Jagorawi toll road towards Sukabumi, Cianjur,and Bandung, which is part of the axis toll road network in the Southern part of Java; this will make Sentul City area a very strategic area and make it more easily accessible from North, West, East, and South.

Dengan demikian pengembangan berbagai produk properti akan lebih mudah diserap pasar karena produk-produk tersebut akan mempunyai pasar yang lebih besar dibanding dengan daerah lainnya.

Hence, the development of various property products will be more easily absorbed by the market because these products will have larger market compared to other regions.

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E. Faktor Land Bank Perseroan memiliki tanah yang belum dikembangkan sekitar 1.400 ha dari ijin lokasi sekitar 3.100 Ha, sedangkan Anak Perseroan BJA yang dikenal dengan Sentul Nirwana memiliki tanah yang belum dikembangkan sekitar 12.000 Ha, dari ijin lokasi 30.000 Ha. Perseroan merupakan pengembang dengan cadangan land bank terbesar di Indonesia.

E. Land Bank Factor The Company has approximately 1,400 Ha undeveloped land from the location permit of approximately 3,100 Ha, while the Company's Subsidiary BJA, known for its Sentul Nirwana, has approximately 12,000 Ha of undeveloped land from the location permit of 30,000 Ha. The Company is the developer with the largest land bank reserves in Indonesia.

Besarnya tanah yang belum dikembangkan tersebut memberikan keleluasaan bagi Perseroan untuk mengembangkan berbagai jenis properti unggulan dan variasi, sesuai dengan segmentasi pasar serta target pasar yang dituju.

The vast area of undeveloped land provides the Company with flexibility to develop various types of favorite properties and variation, in accordance with market segmentation and the target market.

F. Faktor Kelengkapan Fasilitas Pengembangan Sentul City yang telah berlangsung selama lebih dari 20 tahun sampai saat ini, bisa dijadikan referensi penting akan lengkapnya segala fasilitas yang dibutuhkan untuk suatu kota Mandiri. Mulai dari fasilitas pendidikan, rekreasi, hunian bahkan fasilitas kesehatan telah beroperasi dengan baik di Sentul City. Pada tahun 2015, Sentul City mengikat kerja sama dengan Aeon Mall Jepang untuk membangun pusat perbelanjaan yang lengkap. Tidak hanya itu, Aeon Mall tersebut berada di suatu kawasan Centerra super block yang akan menjadi yang super block pertama dikawasan Bogor. Di dalamnya terdapat 4 tower apartment, 1 office building dan 1 hotel bintang 5.

F. Completeness of Facility Factor The development of Sentul City, which has been ongoing for more than 20 years until now, can be used as important reference of the completeness of all facilities required by an independent city. Educational, recreational, residential, and even health facilities have been operating properly in Sentul City. In 2015, Sentul City established cooperation with Aeon Mall Japan to build an allinclusive shopping center. Not only that, but the Aeon Mall will also be located in Centerra super block area which will become the first super blockin Bogor region. It comprises 4 apartment towers, 1 office building, and 1 5-star hotel.

9. Perbandingan Target & Realisasi Realisasi marketing sales Perseroan pada tahun 2016 sebesar 68% dari target yang telah ditentukan.

9. Comparison between Target &Realization The realization of the Company'smarketing and salestarget in 2016 was 68% of the target.

10.Target/Proyeksi 2017 Perseroan optimis dapat memperbaiki kinerja marketing sales pada tahun 2017 ini dibandingkan pencapain tahun 2016. Mengingat perbaikan ekonomi Indonesia, penurunan BI Rate yang berujung pada penurunan suku bunga pinjaman, paket - paket kebijakan ekonomi adalah beberapa alasan makro mengapa Perseroan memiliki pandangan positif untuk tahun 2017.

10.2017 Target/Projection The Company is optimistic that it can improve the performance of marketing and salesin 2017 compared to its achievement in 2016. Indonesia's economic improvement, the decrease in BI Rate which leads to the decrease in lending interest rate, and economic policy packages are some of the macro reasons of why the Company has positive outlook for 2017.

Selain faktor - faktor makro di atas, Perseroan juga juga memiliki beberapa katalis tersendiri untuk menaikkan marketing sales yaitu pembangunan AEON Mall Sentul City dan pembangunan jalur LRT yang akan memotong signifikan waktu tempuh dari Sentul City menuju pusat Jakarta.

In addition to the above macro factors, the Company also has some catalysts of its own to improve marketing and sales, namely the construction of AEON Mall Sentul City andconstruction of LRT line which will significantly cut travel time from Sentul City to Jakarta city center.


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11.Uraian Tentang Aspek Pemasaran Untuk mewujudkan kepuasan pelanggan dan pemangku kepentingan lainnya Perseroan memberikan berbagai desain yang inovatif, berkualitas, menciptakan kenyamanan bagi semua penghuni, penyewa dan para pengunjung serta menjadikan kawasan Sentul City sebagai pilihan utama dengan langkah-langkah sebagai berikut, antara lain :

11.Description on the Marketing Aspect In order to achieve satisfaction of customer andother stakeholders, the Company provides various innovative, high quality designs, creates comfort for all residents, tenants, and visitors, and makes Sentul City area the main choice by taking the following measures, among other things as follows:

1. Mengembangkan strategi pemasaran dengan membangun berbagai fasilitas yang mengacu pada konsep-konsep antara lain sebagai berikut :

1. Developing marketing strategy by building various facilities which refer to the concepts of, among other things, as follows:

a.Pengembangan kota yang mengacu pada keselarasan lingkungan, berwawasan lingkungan dan harmonisasi terhadap lingkungan sekitarnya sehingga dapat meminimalkan efek negatif yang timbul akibat pembangunan. Pembangunan ini mengusung konsep Green Property. b.Pembangunan diupayakan menjadi tempat pembelajaran yang lengkap, baik pendidikan formal maupun pendidikan non-formal yang dapat dimanfaatkan oleh masyarakat umum. Fasilitas pendidikan ini dimulai dari jenjang Play Group hingga Perguruan Tinggi. c.Pengembangan kawasan wisata dan komersial terpadu, termasuk fungsi akomodasi yang didesain untuk menjadi tujuan wisata sekaligus fasilitas kota yang bertaraf internasional. d.Pengembangan aspek seni dan budaya, melalui penyediaan sarana dan prasarana untuk tempat pertunjukan kebudayaan dan tempat-tempat yang bernuansa tradisional merupakan perhatian Sentul City. e.Melakukan perencanaan yang lebih detail untuk mengembangkan zona komersial, hunian, fasilitas. f. Redevelopment Program yaitu perbaikan dan revitalisasi untuk fasilitas-fasilitas dan infrastruktur pada cluster yang telah ada.

a.Town development which refers to environmental h a r m o n y, e n v i r o n m e n t a l i n s i g h t , a n d harmonization with the surrounding environment in order to minimize the negative impact caused by development. Such development carries the concept of Green Property. b.The development shall be striven to become a complete learning facility, for formal as well as non-formal education, which can be utilized by the public. This learning facility starts from the Play Group level up to the University level. c.Development of integrated tourism and commercial area, including the function of accommodation facility designed to become a tourism destination and at the same time facility for an international city. d.Development of art and cultural aspect, through the provision of facilities and infrastructure for a cultural performance hall and traditional themed places, which are given special attention by Sentul City. e.Performing more detailed planning to develop commercial zone, residential zone, and facilities. f. Redevelopment Program, namely improvement and revitalization of facilities and infrastructurein existing clusters.

2. Pangsa pasar dari produk yang dihasilkan Perseroan adalah untuk kalangan menengah bawah & menengah ke atas sehingga karenanya diperlukan pelayanan yang prima agar hubungan baik dengan para pelanggan lama dapat dipertahankan dan menarik sebanyak-banyaknya pelanggan baru. Bahkan Perseroan telah meluncurkan produk-produk premium yang disediakan untuk memenuhi kebutuhan pangsa pasar kelas atas.

2. The market segment for the products generated by t he Company is the lower-middle and uppermiddle segments and therefore requires excellent service in order to maintain good relationship with existing customers and attract as many as possible new customers. The Company has even launched premium products made to meet the demand of the upper class market segment.

Dengan pangsa pasar sebagaimana tersebut, Perseroan harus mampu menyempurnakan berbagai

Having market segment as stated above, the Company must be able to enhance various

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cara proses pembangunan dan serah terima rumah tepat waktu disertai dengan dipercepatnya pembangunan jaringan infrastruktur makro dan mikronya.

development processes andhand over houses on a timely matter along with accelerating the construction of its macro and microinfrastructurenetwork.

12.Kebijakan Dividen Besarnya dividen dikaitkan dengan besarnya keuntungan Perseroan dan kebutuhan kas pada tahun buku yang bersangkutan, dengan tidak mengabaikan tingkat kesehatan Perseroan dan tanpa mengurangi hak dari RUPS Perseroan menentukan lain sesuai dengan ketentuan Anggaran Dasar Perseroan dan peraturan perundang-undangan pasar modal.

12.Dividend Policy The amount of dividend is linked to the amount of the Company's profit and requirement of cash in the current fiscal year, without disregarding the Company's health level and without prejudicing the rights of the Company's General Shareholders Meeting to determine otherwise in accordance with the provisions of the Articles of Association of the Company and laws and regulations on capital market.


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TATA KELOLA PERUSAHAAN Corporate Governance


69

Tata Kelola Perusahaan Corporate Governance

Perseroan berkomitmen untuk menerapkan prinsip-prinsip tata kelola perusahaan yang baik sesuai ketentuan. Penerapan tata kelola yang baik dalam segala aspek kegiatan manajemen dan operasional secara berkesinambungan, diharapkan dapat meningkatkan kepercayaan konsumen, mitra kerja, pemegang saham dan pemangku kepentingan lainnya. Prinsip-prinsip tata kelola perusahaan yang baik tersebut meliputi Transparansi, Akuntabilitas, Pertanggungjawaban, Independensi dan Kewajaran.

The Company committed to implement the principles of good corporate governance in accordance with the provisions. Continuous implementation of good governance in all aspects of management and operational activities is expected to improve the trust of consumers, business partners, shareholders, andother stakeholders. The principles of good corporate governance consist of Transparency, Accountability, Responsibility, Independency, and Fairness.

Penerapan prinsip-prinsip tata kelola perusahaan yang baik tersebut tidak terbatas pada peraturan dibidang Pasar Modal, namun juga meliputi Kode Etik PT Sentul City Tbk, Pedoman Direksi dan Dewan Komisaris, Piagam Komite Audit, Kode Etik Komite Audit, Pedoman Kerja Unit Audit Internal, Kode Etik Unit Audit Internal dan Standar Operasional Prosedur dari berbagai unit kerja yang berada pada Perseroan.

The implementation of good corporate governance is not limited to regulation in the field of Capital Market, but also includes the Code of Ethics of PT Sentul City Tbk, Guidelines of the Board of Directors and Board of Commissioners, Audit Committee Charter, Code of Ethics of the Audit Committee, Working Guidelines of the Internal Audit Unit, Code of Ethics of the Internal Audit Unit,and Standard Operating Procedureof various work units within the Company.

Direksi Sesuai dengan Peraturan Otoritas Jasa Keuangan Nomor 33/POJK.04/2014 dan Anggaran Dasar Perseroan, pada pokoknya tugas Direksi adalah menjalankan dan bertanggung jawab penuh atas kepengurusan Perseroan untuk kepentingan Perseroan sesuai maksud dan tujuan Perseroan yang ditetapkan dalam Anggaran Dasar. Dalam menjalankan tugas dan tanggung jawab atas pengurusan, Direksi wajib menyelenggarakan RUPS Tahunan dan RUPS lainnya sebagaimana diatur dalam peraturan perundangundangan dan Anggaran Dasar. Setiap anggota Direksi wajib melaksanakan tugas dan tanggung jawab dengan itikad baik, penuh tanggung jawab dan kehati-hatian.

Board of Directors In accordance with Regulation of the Financial Services Authority Number 33/POJK.04/2014 and Articles of Association of the Company,the duty of the Board of Directors is basically to perform and take full responsibility for the management of the Company for the interest of the Company in accordance with the purpose and objective of the Company as stipulated in the Articles of Association. In performing its managerial duty and responsibility, the Board of Directors is obligated to hold the Annual General Shareholders Meeting and other General Shareholders Meetingsas provided for in laws and regulations and Articles of Association. Each member of the Board of Directors is obligated to perform the duty andresponsibility with good intention, full responsibility and due care.

Hasil Rapat Umum Pemegang Saham Luar Biasa Perseroan, pada tanggal 22 November 2016, sebagaimana dimuat dalam Akta Pernyataan Keputusan Rapat No. 81, yang dibuat oleh Elizabeth Karina Leonita, SH. M.Kn., Notaris di Kota Bogor, Direksi Perseroan terdiri dari 5 orang, dimana salah seorang diantaranya merupakan Direktur Independen Perseroan.

Based on the result of the Extraordinary General Shareholders Meeting of the Company on November 22, 2016, as set out in the Deed of Statement of Decisions of the Meeting No. 81, drawn before Elizabeth Karina Leonita, SH. M.Kn., Notary in Bogor Municipality, the Board of Directors of the Company consists of 5 persons, one of them being the Independent Director of the Company.

Ruang lingkup tugas dan tanggungjawab masing-masing Direksi adalah sebagai berikut :

The scope of duty and responsibility of each member of the Board of Directors is as follows:

1. Keith Steven Muljadi, Presiden Direktur, dengan ruang lingkup pekerjaan mengelola usaha Perseroan dan mengkoordinasikan tugas-tugas para Direktur.

1. Keith Steven Muljadi, PresidentDirector, with the scope of work of managing the Company's business and coordinating the tasks of the Directors.

Beliau bertanggung jawab untuk menentukan arah dan strategi pengembangan serta memastikan pertumbuhan bisnis Perseroan telah sejalan dengan strategi yang ditetapkan. Disamping itu beliau juga bertanggung jawab untuk memberikan arahan kepada

He is responsible for determining the direction and strategy of development and ensuring that the Company's business growth has been in line with the stipulated strategy. In addition to that, he is also responsible for giving direction to each of the Directors

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setiap Direktur, terkait dengan ruang lingkup pekerjaaan masing-masing dan memastikan terwujudnya sinergi dan efektifitas kerja sama antar Direktorat untuk mencapai tujuan Perseroan jangka pendek maupun jangka panjang.

inrelation to their respective scope of work and ensuring the manifestation of synergyand effectiveness of cooperation between Directorates to achieve the Company's short-term and long-term objectives.

Secara khusus beliau juga memangku tanggung jawab pada pengembangan produk-produk Perseroan dan juga implementasi strategi pendukung pemasaran. Dengan demikian beliau bertanggung jawab untuk menyusun perencanaan pengembangan produk dan strategi atau taktik pemasaran pada Perseroan. Pencapaian target penjualan Perseroan juga merupakan ruang lingkung tanggung jawab beliau, oleh karenanya beliau bertanggung jawab juga untuk menyusun strategi, perencanaan dan pencapaian target penjualan serta memastikan bahwa penjualan yang dilakukan telah sesuai dengan kebijakan Perseroan.

Specifically, he also bears the responsibility for the development of the Company's products andalso the implementation of marketing support strategy. Therefore, he is responsible for preparing product development planandmarketing strategyor tactic at the Company. Achievement of the Company's sales target also falls under his scope of responsibility, and therefore he is also responsible for preparing strategy, planning, and achievement of sales target as well as ensuring that the implementation of sales has been in accordance with Company policy.

Beliau juga mengemban tanggung jawab mengkoordinasikan keseluruhan fungsi pendukung bisnis yang ada dalam Perseroan, meliputi bidang

He also bears the responsibility for coordinating all business support functions in the Company, which consist of Internal Audit, Corporate Secretary, Legal,


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Internal Audit, Corporate Secretary, Legal, Hubungan Pelanggan, Pelayanan Umum, Human Capital serta keseluruhan pengelolaan pelayanan kepada pelanggan agar berjalan sesuai dengan kebijakan Perseroan.

Customer Relations, General Service, Human Capital, and overall management of customer service in order to be functioning in accordance with Company policy.

2. Andy Kesuma Natanael, Wakil Presiden Direktur dengan ruang lingkup pekerjaan di bidang operasional, marketing dan investor relation Perseroan serta membantu Presiden Direktur mengkoordinasikan tugastugas para Direktur.

2. Andy Kesuma Natanael, Vice President Director, with the scope of work in the fields of operations, marketing,and investor relation of the Company as well as assisting the PresidentDirectorin coordinating the tasks of the Directors.

Beliau bertanggung jawab atas berjalannya aktivitas operasional secara keseluruhan. Secara khusus beliau bertanggung jawab untuk mengatur perumusan strategi pemasaran dan juga implementasinya dalam rangka mencapai target perusahaan. Selain ini cakupan tanggung jawab beliau secara khusus ada pada bidang pencarian modal usaha melalui investor relation yang sangat penting bagi kelangsungan operasional perseroan.

He is responsible for the overall implementation of operational activities. Specifically, he is responsible for setting the formulation of marketing strategy and the implementation thereof in the context of achieving the Company's target. In addition to that, the coverage of his responsibility particularly consists of raising business capital through investor relation, which is crucial for the operational continuity of the Company.

3. Syukurman Larosa, Direktur Independen dengan ruang lingkup pekerjaan di bidang Pengembangan Produk, Pemasaran dan Penjualan pada Perseroan.

3. Syukurman Larosa, Independent Director, with the scope of work in the fields of Product Development, Marketing, and Sales at the Company.

Beliau bertanggung jawab terhadap pengembangan produk-produk Perseroan dan juga implementasi strategi pemasaran, oleh karena itu beliau bertanggung jawab menyusun perencanaan pengembangan produk dan strategi pemasaran. Selain itu beliau juga bertanggung jawab terhadap pencapaian target penjualan serta memastikan bahwa penjualan yang dilakukan telah sesuai dengan kebijakan dan peraturan Perseroan.

He is responsible for the development of the Company's products andalso the implementation of marketing strategy, and therefore, he is responsible for preparing product development planning and marketing strategy. In addition to that, he is also responsible for the achievement of sales target and ensuring that the implementation of sales has been in accordance with Company policy and regulation.

4. Ricky Kinanto Teh, Direktur dengan ruang lingkup pekerjaan membantu pelaksanaan tugas Presiden Direktur di bidang Perencanaan, Pengembangan Bisnis, Engineering, Quantity Surveyor, Pengadaan Barang dan Jasa, dan Proyek Konstruksi pada Perseroan.

4. Ricky Kinanto Teh, Director, with the scope of work of assisting the implementation of duty of the PresidentDirectorin the fields of Planning, Business Development, Engineering, Quantity Surveyor, Procurement of Goods and Services, andConstruction Project at the Company.

Beliau bertanggung jawab untuk menyusun strategi, perencanaan, design dan anggaran, keseluruhan proyek konstruksi low rise, high rise dan infrastruktur serta merekomendasikan inisiatif pengembangan bisnis untuk pencapaian tujuan Perseroan jangka panjang.

He is responsible for preparing strategy, planning, design andbudget, all low-rise, high-rise and infrastructure construction projects, as well asrecommending business development initiatives for the achievement of the Company's long-term objectives.

Selain itu beliau juga mengemban tanggung jawab terhadap proses pengadaan barang dan jasa pada perseroan dan juga melakukan pengawasan dan analisa strategis terhadap proses tersebut. Sebagai tugas laiinya, beliau juga melakukan kontrol terhadap seluruh aktivitas penghitungan pada quantity surveyor dan pelaksanaan pembangunan proyek konstruksi

In addition to that, he also bears the responsibility for goods and services procurement process at the company andalso for performing supervision and strategic analysis of the process. Among his other duties, he also performs control on all calculation activities in quantity surveyorandthe implementation of construction project until completion. The

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sampai dengan selesai. Pengawasan pelaksanaan konstruksi dari segi biaya, kualitas, dan waktu penyelesaian agar sesuai dengan kebijakan Perseroan merupakan ruang lingkup tanggung jawab beliau.

supervision of implementation of construction in terms of cost, quality, andtime of completion in order to conform to the Company policy also falls within the scope of his responsibility.

5. Rickey Mabbun Leuterio, Direktur dengan ruang lingkup pekerjaan di bidang Keuangan, Akuntansi, Pajak, Teknologi Informasi, serta Administrasi Sales pada Perseroan.

5. Rickey Mabbun Leuterio, Director, with the scope of work in the fields of Finance, Accounting, Taxation, Information Technology, and Sales Administration at the Company.

Beliau bertanggung jawab untuk mengatur keuangan Perseroan melalui pengawasan, analisa kinerja keuangan secara berkala, mempersiapkan merekomendasikan strategi keuangan dan melakukan kontrol terhadap seluruh aktivitas keuangan.

He is responsible for setting the Company's financials through supervision, periodic analysis of financial performance, preparing and recommending financial strategy, and performing control on all financial activities.

Direksi Perseroan telah memiliki pedoman atau piagam Direksi, sebagaimana diatur Pasal 35, POJK Nomor 33/POJK.04/2014, tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Terbuka.

The Board of Directors of the Company already has guidelines or charter of the Board of Directors, as provided for in Article 35 of Regulation of the Financial Services AuthorityNumber 33/POJK.04/2014 concerning Board of Directors and Board of Commissioners of Issuer or Public Company.

Prosedur penetapan remunerasi berdasarkan hasil Rapat Umum Pemegang Saham Tahunan Perseroan adalah Rapat Umum Pemegang Saham Tahunan melimpahkan wewenang kepada Rapat Dewan Komisaris Perseroan untuk menetapkan gaji bagi anggota Dewan Komisaris dan anggota Direksi Perseroan yang pelaksanaannya akan disesuaikan dengan anggaran dasar Perseroan dan perundangan yang berlaku.

The procedure for the stipulation of remuneration based on the result of Annual General Shareholders Meeting of the Company is that the Annual General Shareholders Meeting delegates its authority to the Meeting of the Board of Commissioners of the Company to stipulate the salary for members of the Board of Commissioners and members of the Board of Directors of the Company, the implementation of which will be adjusted to the articles of association of the Company and the applicable laws.

Besarnya remunerasi (gaji dan tunjangan) yang dibayarkan kepada anggota Direksi Perseroan, selama 1 (satu) tahun 2016 adalah Rp 5.404.184.406.-

The amount of remuneration (salary and allowances) paid to the members of the Board of the Directors of the Company during 1 (one) year in 2016 was Rp 5,404,184,406.-

Sesuai ketentuan anggaran dasar Direksi wajib mengadakan rapat Direksi paling kurang 1 (satu) kali dalam setiap bulan dan Direksi wajib mengadakan rapat bersama Dewan Komisaris secara berkala paling kurang 1 (satu) kali dalam 4 (empat) bulan.

In accordance with the provisions of the articles of association, the Board of Directors is obligated to hold meeting of the Board of Directors at least 1 (one) time every month and the Board of Directors is obligated to hold joint meeting with the Board of Commissioners on a periodic basis at least 1 (one) time every 4 (four) months.

Sepanjang tahun 2016, Direksi Perseroan telah melakukan rapat internal dan rapat bersama dengan Dewan Komisaris Perseroan, sebanyak 18 kali dengan tingkat kehadiran rapat rata-rata 72,32 %.

In 2016, the Board of Directors of the Company has held internal meetings and joint meetings with the Board of Commissioners of the Company for 18 times with average level of attendance in the meetings of 72.32%.

Keputusan RUPS baik tahun buku maupun tahun sebelumnya sudah direalisasikan.

The decisions of the General Shareholders Meetings held during the fiscal year and in the previous year have been realized.


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Dewan Komisaris Sesuai dengan Peraturan Otoritas Jasa Keuangan Nomor 33/POJK.04/2014 dan Anggaran Dasar Perseroan, pada pokoknya tugas dan tanggung jawab Dewan Komisaris adalah melakukan pengawasan atas kebijaksanaan pengurusan, jalannya pengurusan pada umumnya, baik mengenai Perseroan maupun usaha Perseroan, serta memberikan nasihat kepada Direksi. Dewan Komisaris wajib menjalankan tugas dan tanggung jawab dengan itikad baik, penuh tanggung jawab dan kehati-hatian.

Board of Commissioners In accordance with Regulation of the Financial Services Authority Number 33/POJK.04/2014 and Articles of Association of the Company, the duty and responsibility of the Board of Commissionersare basically to perform supervision on management policy and implementation of management in general with regard to the Company and the Company's business, as well as to provide advice to the Board of Directors. The Board of Commissioners is obligated to perform its duty and responsibility with good intention, full responsibility, and due care.

Hasil Rapat Umum Pemegang Saham Luar Biasa Perseroan, pada tanggal 22 November 2016, sebagaimana dimuat dalam Akta Pernyataan Keputusan Rapat No. 81, yang dibuat oleh Elizabeth Karina Leonita, SH. M.Kn., Notaris di Kota Bogor, Dewan Komisaris Perseroan terdiri dari 4 orang dan 2 orang diantaranya merupakan Komisaris Independen Perseroan.

Based on the result of the Extraordinary General Shareholders Meeting of the Company on November 22, 2016 as set out in the Deed of Statement of Decisions of Meeting No. 81, drawn before Elizabeth Karina Leonita, SH. M.Kn., Notary in Bogor Municipality, the Board of Commissioners of the Company consists of 4 persons, 2 of them being the Independent Commissioners of the Company.

Dewan Komisaris Perseroan telah memiliki pedoman atau piagam Direksi, sebagaimana diatur Pasal 35, POJK Nomor 33/POJK.04/2014, tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Terbuka.

The Board of Commissioners of the Company already has guidelines or charter of the Board of Directors, as provided for in Article 35 of Regulation of the Financial Services Authority Number 33/POJK.04/2014 concerning Board of Directors and Board of Commissioners of Issuer or Public Company.

Prosedur penetapan remunerasi berdasarkan hasil Rapat Umum Pemegang Saham Tahunan Perseroan adalah Rapat Umum Pemegang Saham Tahunan melimpahkan wewenang kepada Rapat Dewan Komisaris Perseroan untuk menetapkan gaji bagi anggota Dewan Komisaris dan anggota Direksi Perseroan yang pelaksanaannya akan disesuaikan dengan anggaran dasar Perseroan dan perundangan yang berlaku.

The procedure for the stipulation of remuneration based on the result of Annual General Shareholders Meeting of the Company is that the Annual General Shareholders Meeting delegates its authority to the Meeting of the Board of Commissioners of the Company to stipulate the salary for members of the Board of Commissioners and members of the Board of Directors of the Company, the implementation of which will be adjusted to the articles of association of the Company and the applicable laws.

Besarnya remunerasi (gaji dan tunjangan) yang dibayarkan kepada anggota Dewan Komisaris Perseroan, selama 1 (satu) tahun 2016 adalah Rp. 1,609.122.050,-

The amount of remuneration (salary and allowances) paid to the members of the Board of Commissioners of the Company during 1 (one) year in 2016 was Rp. 1,609,122,050.-

Sesuai ketentuan anggaran dasar Dewan Komisaris wajib mengadakan rapat paling kurang 1 (satu) kali dalam 2 (dua) bulan dan Dewan Komisaris wajib mengadakan rapat bersama Direksi secara berkala paling kurang 1 (satu) kali dalam 4 (empat) bulan.

In accordance with the provisions of the articles of association, the Board of Commissionersis obligated to hold meetings at least 1 (one) time every 2 (two) monthsand the Board of Commissioners is obligated to hold joint meeting with the Board of Directors on a periodic basis at least 1 (one) time every 4 (four) months.

Sepanjang tahun 2016, Dewan Komisaris Perseroan telah melakukan rapat internal, termasuk rapat Dewan Komisaris dalam fungsi Nominasi dan Remunerasi, serta rapat bersama dengan Direksi Perseroan, sebanyak 15 kali dengan tingkat kehadiran rapat rata-rata 74,07 %.

In 2016, the Board of Commissioners of the Company has held internal meetings, including meetings of the Board of Commissioners in the Nomination and Remuneration function, and joint meetings with the Board of Directors of the Company, for 15 times with the average level of attendance in the meetings of 74.07%.

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Kebijakan Perseroan tentang penilaian terhadap kinerja Direksi dan Dewan Komisaris dilaksanakan sekali dalam setiap tahun. Kriteria penilaian antara lain dari sisi kecakapan dan kinerja. Pihak yang melakukan penilaian adalah Anggota Direksi menilai Direksi dan Anggota Dewan Komisaris menilai Dewan Komisaris.

Based on Company policy, performance assessment of the Board of Directors and Board of Commissioners is performed once a year. The assessment criteria are, among other things, based on competency and performance. The Parties who perform the assessment are as follows: Members of the Board of Directors assess the Board of Directors and Members of the Board of Commissioners assess the Board of Commissioners.

Dewan Komisaris menilai bahwa Komite Audit Perseroan yang dibentuk dan bertanggung jawab kepada Dewan Komisaris sebagaimana diatur dalam POJK Nomor : 55/POJK.04/2015, telah melaksanakan tugas dan tanggung jawabnya dengan baik.

The Board of Commissionersis of the opinion that the Audit Committee of the Company which is established by and reports to theBoard of Commissioners as provided for in Regulation of the Financial Services Authority Number: 55/POJK.04/2015 has performed its duty and responsibility properly.

Pada tahun 2016, Perseroan belum membentuk Komite Nominasi dan Remunerasi, karena fungsi Nominasi dan Remunerasi dijalankan oleh Dewan Komisaris.

In 2016, the Company has not established a Nomination and Remuneration Committee, because the Nomination and Remuneration function is performed by the Board of Commissioners.

Nominasi untuk Anggota Direksi dan Anggota Dewan Komisaris dilakukan oleh Dewan Komisaris. Remunerasi untuk Anggota Direksi dan Dewan Komisaris diputuskan oleh RUPS Tahunan.

The nomination of Members of the Board of Directors and Members of the Board of Commissioners is performed by the Board of Commissioners. The remuneration of Members of the Board of Directors and Board of Commissioners is decided by the Annual General Shareholders Meeting.

Komite Audit Sesuai Peraturan Otoritas Jasa Keuangan Nomor 55/POJK.04/2015, tentang Pembentukan dan Pedoman Pelaksanaan Kerja Komite Audit, Komite Audit adalah komite yang dibentuk oleh dan bertanggung jawab kepada Dewan Komisaris Perseroan dalam membantu melaksanakan tugas dan fungsi Dewan Komisaris. Anggota Komite Audit diangkat dan diberhentikan oleh Dewan Komisaris. Komite Audit diketuai oleh Komisaris Independen. Susunan Komite Audit Perseroan Ketua : Soemarso Slamet Rahardjo (Komisaris Independen) Anggota : Rusdy Daryono (Pihak Independen) Jonnardi (Pihak Independen)

Audit Committee Pursuant to the Financial Services Authority (OJK) Regulation Number 55/POJK.04/2015 regarding Formation of Audit Committee and Guidelines for the Performance of its Work, Audit Committee is a committee formed by and responsible to the Company's Board of Commissioners to assist in the performance of the duties and functions of the Board of Commissioners. Audit Committee members are appointed and dismissed by the Board of Commissioners. Audit Committee is chaired by an Independent Commissioner. Composition of the Company's Audit Committee Chairman : Soemarso Slamet Rahardjo (Independent Commissioner) Members : Rusdy Daryono (Independent Person) Jonnardi (Independent Person)

Soemarso Slamet Rahardjo adalah anggota Komite Audit yang berasal dari Komisaris Independen yang bertindak sebagai Ketua Komite Audit.

Soemarso Slamet Rahardjo is an Audit Committee member who is an Independent Commissioner and acts as the Chairperson of the Committee.

Rusdy Daryono dan Jonnardi adalah anggota Komite Audit dari pihak Independen yang mempunyai latar belakang pendidikan dan berpengalaman dalam bidang Keuangan dan Akuntansi. Riwayat singkat anggota Komite Audit yang berasal dari pihak independen adalah sebagai berikut:

Rusdy Daryono and Jonnardi are the Audit Committee members who are Independent parties and have Finance and Accounting education background and experiences. A short profile of the independent members of the Audit Committee is as follows:

Rusdy Daryono Anggota Komite Audit Perseroan yang berasal dari Pihak Independen, usia 56 tahun, kewarganegaraan Indonesia.

Rusdy Daryono Rusdy Daryono is an Independent Member of the Company's Audit Committee, aged 56 years old and Indonesian


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Menyelesaikan Pendidikan pada Fakultas Ekonomi, Jurusan Akuntasi, Universitas Indonesia, Jakarta.

national. He finished his Accounting Studies at Jakarta University of Indonesia's Faculty of Economics.

Selain menjabat sebagai Komite Audit Perseroan beliau juga menjabat sebagai Komisaris Independen pada PT Bank UOB Indonesia Tbk (dahulu PT Bank UOB Buana).

In addition to sitting in the Audit Committee of the Company, he also serves as an Independent Commissioner at PT Bank UOB Indonesia Tbk (formerly PT Bank UOB Buana).

Karir profesionalnya dimulai pada tahun 1973, di divisi Pajak pada Kantor Akuntan Drs Utomo, Mulia & Co (SGV Group). Menjadi rekan audit pada Kantor Akuntan Mulia Iskandar & Co. pada tahun 1984 sampai 1986 dan pada Kantor Akuntan Prasetio, Utomo & Rekan (Arthur Andersen) pada tahun 1987 sampai masa pensiun 2002. Selanjutnya dari tahun 2003 sampai 2006 bergabung dengan Kantor Akuntan HTM (Deloitte).

He started his professional career in 1973 at the Tax Division of the Accountant Firm Drs Utomo, Mulia & Co (SVG Group). He was an audit partner at the Accountant Firm Mulia Iskandar & Co. from 1984 until 1986 and at the Accountant Firm Prasetio, Utomo & Rekan (Arthur Andersen) from 1987 until retirement in 2002. From 2003 until 2006 he joined the Accountant Firm HTM (Deloitte).

Jonnardi Anggota Komite Audit Perseroan yang berasal dari pihak Independen dan berpengalaman dalam bidang audit dan laporan keuangan, usia 52 tahun, kewarganegaraan Indonesia.

Jonnardi Jonnardi is an Independent Member of the Company's Audit Committee, has experiences in audits and reports and is aged 52 years old and Indonesian national.

Menyelesaikan pendidikan di Fakultas Ekonomi Universitas Andalas Sumatera Barat tahun 1990, menyelesaikan program Pasca Sarjana Magister Manajemen di Universitas Trisakti tahun 1995 dan memperoleh gelar Doktor Manajemen Bisnis Konsentrasi Manajemen Keuangan Program Pasca Sarjana di Universitas Padjajaran tahun 2014.

He finished his Economic Studies in 1990 at Andalas University of West Sumatra, and his Postgraduate Master's Degree in Management at Trisakti University in 1995 and obtained his Doctoral Degree in Business Management, Concentrating in Finance Management, Postgraduate Program at Padjajaran University in 2014.

Saat ini menjabat sebagai Pimpinan Rekan pada Kantor Akuntan Publik Jamaludin, Ardi, Sukimto dan Rekan. Disamping itu sebagai Dosen pada Fakultas Ekonomi Universitas Tarumanegara mulai 1991 dan Instruktur Mata Kuliah Teori Akuntansi PPA Bank Central Asia mulai 1995.

Currently, he serves as a Managing Partner at the Public Accountant Firm Jamaludin, Ardi, Sukimto dan Rekan. He also is a Lecturer at Tarumanegara University's Faculty of Economics since 1991 and an Instructor for the Study of Accounting Theory for PPA Bank Central Asia since 1995.

Dasar Hukum Penunjukkan Surat Penunjukan Komite Audit tertanggal 18 Juli 2014.

Legal Basis of Appointment Audit Committee's Letter of Appointment dated 18 July 2014.

Periode dan masa jabatan anggota Komite Audit Susunan Komite Audit Perseroan tersebut adalah untuk periode yang pertama dengan masa jabatan sampai dengan ditutupnya Rapat Umum Pemegang Saham Tahunan tahun 2017.

Period and term of office of Audit Committee members Such composition of the Company's Audit Committee is for the initial period with term of office until the closing of the 2017 Annual General Meeting of Shareholders.

Pengungkapan Independensi Komite Audit bertugas dan bertanggung jawab untuk memberikan pendapat profesional dan independen kepada Dewan Komisaris terhadap laporan atau hal-hal yang disampaikan oleh Direksi kepada Dewan Komisaris dan melaksanakan tugas-tugas lain yang diberikan Dewan Komisaris.

Disclosure of Independence The Audit Committee has duty to provide, and is responsible for providing, professional and independent opinions to the Board of Commissioners regarding reports and issues presented by the Board of Directors to the Board of Commissioners and to perform such other duties as assigned by the Board of Commissioners.

Kebijakan dan Pelaksanaan Rapat Komite Audit mengadakan rapat secara berkala paling

Policy and Conduct of Meeting The Audit Committee holds regular meeting at least one

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sedikit 1 (satu) kali dalam 3 (tiga) bulan. Sepanjang tahun 2016, Komite Audit Perseroan telah melakukan rapat sebanyak 14 kali dengan tingkat kehadiran rapat 90,47%.

(1) time in three (3) months. Throughout 2016, the Company's Audit Committee held as many as 14 meetings with level of attendance 90.47%.

Pelaksanaan Kegiatan Komite Audit Pada Tahun Buku Sesuai dengan ketentuan yang berlaku, peran Komite Audit PT. Sentul City Tbk. ("Perseroan") adalah membantu Dewan Komisaris dalam melaksanakan tugas dan tanggung jawab pengawasan.

Conduct of Audit Committee's Activities during the Financial Year In accordance with the applicable rules, the role of the Audit Committee of PT. Sentul City Tbk. ("Company") is to assist the Board of Commissioners in performing its supervisory duties and responsibilities.

Tugas Komite Audit sesuai Piagam adalah: Meningkatkan kualitas laporan keuangan; Memantau pelaksanaan sistem pengendalian pengelolaan usaha untuk meminimalisasi kemungkinan terjadinya salah kelola; Meningkatkan efektivitas fungsi Auditor Internal maupun Auditor Eksternal; Mengidentifikasi hal-hal yang memerlukan perhatian Dewan Komisaris; Memantau kepatuhan perusahaan terhadap peraturan perundang-undangan yang berlaku.

The Audit Committee's duties pursuant to the Charter are: To increase the quality of the financial statements; To observe the performance of the business management control system in order to minimize the possibility of mismanagement; To promote effective function of the Internal Auditors and External Auditors; To identify issues that require the attention of the Board of Commissioners; To monitor the company's compliance with the applicable laws and regulations.

Kegiatan Komite Audit selama tahun 2016 antara lain meliputi: 1. Melakukan penelaahan atas rencana kerja tahunan internal audit, temuan dan tindaklanjut manajemen atas temuan tersebut; 2. Melakukan diskusi dengan manajemen mengenai laporan keuangan dan isu terkini berkenaan dengan standar akuntansi keuangan dan ketentuan Otoritas Jasa Keuangan (dahulu Bapepam & LK) yang baru, terkait dengan laporan keuangan; 3. Merekomendasikan penunjukan Auditor Independen kepada Dewan Komisaris berdasarkan pada independensi, ruang lingkup penugasan dan imbalan jasa; 4. Melakukan pertemuan dengan auditor independen untuk mendiskusikan rencana audit, kemajuan pelaksanaan audit, laporan keuangan hasil audit dan temuan audit atas laporan keuangan perseroan serta management letter berisikan rekomendasi perbaikan atas pengendalian internal perusahaan; 5. Melakukan pertemuan dengan manajemen tentang pelaksanaan peraturan perundangan yang berlaku, masalah-masalah hukum, manajemen risiko, maupun menyangkut isu dan permasalahan terkini yang dihadapi Perseroan. 6. Memberikan rekomendasi terkait penunjukan Akuntan Publik.

The activities performed by the Audit Committee during 2016 include: 1. Conducted a review on the internal audit's annual work plan, the findings and the management's further actions with respect to the findings; 2. Conducted discussions with the management regarding financial statements and current issues pertaining to current financial accounting standards and rules of the Financial Services Authority (OJK (formerly Bapepam & LK)), relating to financial statements; 3. Recommended the appointment of Independent Auditors to the Board of Commissioners on the basis of independence, scope of assignment and fee; 4. Held meetings with independent auditors to discuss audit plan, audit progress, audited financial statements and audit findings on the company's financial statements and the management letter containing recommended improvement to the company's internal control; 5. Held meetings with the management regarding the implementation of the applicable laws and regulations, legal issues, risk management, and issues and problems currently faced by the Company; 6. Provided recommendations relating to the appointment of Public Accountants.

Ko m i t e A u d i t d a l a m m e l a k s a n a k a n t u g a s n y a mempertahankan sikap independen, walaupun selalu melakukan kerjasama serta berkomunikasi dengan Internal Audit, Direksi, dan Auditor Independen Perseroan. Namun

In performing its duties, the Audit Committee maintains independence, although it always works and communicates with the Internal Auditors, the Board of Directors, and the Independent Auditors of the Company. This does not


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demikian, Komite Audit tidak mengambil-alih pekerjaanpekerjaan mereka dan mengandalkan sepenuhnya pada informasi yang disampaikan oleh mereka.

mean that the Audit Committee takes over their jobs and completely relies on the information provided by them.

Oleh karena itu, Direksi dan Manajemen tetap bertanggungjawab sepenuhnya atas penyajian Laporan Keuangan Perseroan kepada publik yang telah diterbitkan sesuai dengan Standar Akuntansi yang berlaku umum, termasuk pengungkapan yang memadai serta kepatuhan terhadap undang-undang dan peraturan yang mengikat.

Therefore, the Board of Directors and the Management remain fully responsible for the presentation of the Company's Financial Statements to the public which have been issued in accordance with the generally applied Accounting Standards, including adequate disclosure and compliance with applicable laws and regulations.

Untuk tahun buku 2016 Komite Audit telah melangsungkan rapat dengan Manajemen Perseroan dan Auditor Independen, dan memfokuskan terutama pada penyajian Laporan Keuangan Perseroan, penelaahan informasi keuangan Perseroan, proses audit oleh Auditor Independen, penelaahan temuan internal audit dan tindaklanjutnya, serta pelaksanaan peraturan-peraturan yang relevan.

For the financial year 2016, the Audit Committee has held a meeting with the Company's Management and the Independent Auditors and focused particularly on the presentation of the Company's Financial Statements, review of the Company's financial information, audit process by Independent Auditors, review of internal audit findings and the further actions, and implementation of the relevant regulations.

Komite Audit mereviu mengenai kemutahiran Piagam Komite Audit secara berkala.

The Audit Committee reviews the updates of the Audit Committee's Carter regularly.

Sekretaris Perusahaan Kwee Liana Kumala, Sekretaris Perusahaan, dengan domisili Jl. Bungur Besar No.81, RT.006 RW.001, Kemayoran, Kemayoran, Jakarta Pusat. Menjabat sebagai Sekretaris Perusahaan sesuai Surat Penunjukkan tertanggal 28 Februari 2013.

Corporate Secretary Kwee Liana Kumala, the Corporate Secretary, is domiciled at Jl. Bungur Besar No. 81, RT. 006, RW. 001, Kemayoran, Kemayoran, Central Jakarta. She serves as Corporate Secretary in accordance with Letter of Appointment dated February 28, 2013.

Sebelumnya pernah menjabat sebagai Direktur dan pernah menjabat sebagai Komisaris Perseroan. Karirnya dimulai dengan bekerja pada PT. Ban Lim Trading Co (1976 - 1986), Asia Cemerlang Printing Co. (1982 - 1988), Industrial Development Bank (1984 - 1986), PT. Muara Lentera Mitra (1986 - 1988) dan PT. Fajar Marga Permai (1988 - 1993).

She has held the position of Director and also Commissioner of the Company. Her career started by working at PT. Ban Lim Trading Co (1976 - 1986), Asia Cemerlang Printing Co. (1982 - 1988), Industrial Development Bank (1984 - 1986), PT. Muara Lentera Mitra (1986 - 1988), and PT. Fajar Marga Permai (1988 - 1993).

Lulusan Sastra Cina dari Nan Yang University, Singapore pada tahun 1974.

Graduated from Chinese Literature study program at Nanyang University, Singapore in 1974.

Secara garis besar pelaksanaan tugas Corporate Secretary pada tahun buku 2016, antara lain sebagai berikut ; 1. Mengikuti perkembangan Pasar Modal khususnya peraturan-peraturan yang berlaku di bidang Pasar Modal; 2. Memberikan pelayanan dan sebagai penghubung antara Emiten atau Perusahaan Publik dengan pemangku kepentingan; 3. Memberikan masukan kepada Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik untuk mematuhi ketentuan perundang-undangan di bidang Pasar Modal; 4. Membantu Direksi dan Dewan Komisaris dalam pelaksanaan tata kelola perusahaan antara lain : a. Keterbukaan informasi kepada masyarakat; b. Penyampaian laporan kepada Otoritas Jasa Keuangan dll;

The implementation of duty of Corporate Secretary in the 2016 fiscal year is, among other things, as follows: 1. Keeping up with the development in the Capital Market, particularly regulations applicable in the field of Capital Market; 2. Providing service and acting as liaison between Issuer or Public Company and stakeholders; 3. Providing input to the Board of Directors and Board of Commissioners of Issuer or Public Company to comply with the provisions of laws and regulations in the field of Capital Market; 4. Assisting the Board of Directors and Board of Commissioners in the implementation of corporate governance, among other things as follows: a. Information transparency to the public; b. Submission of report to the Financial Services Authority, etc.;

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c. Penyelenggaraan dan dokumentasi Rapat Umum Pemegang Saham; d. Penyelenggaraan dan dokumentasi rapat Direksi dan/atau Dewan Komisaris.

c. Implementation and documentation of General Shareholders Meeting; d. Implementation and documentation of the Board of Directors and/or Board of Commissioners meeting.

Unit Audit Internal Aloysius L. Diaz adalah Kepala Unit Audit Internal Perseroan, sebagaimana diatur dalam dan untuk memenuhi Peraturan Otoritas Jasa Keuangan Nomor 56/POJK.04/2015 Tanggal 29 Desember 2015 tentang Pembentukan dan Pedoman Penyusunan Piagam Unit Audit Internal. Dasar hukum penunjukkan sebagai Kepala Unit Audit Internal adalah Surat Keputusan Direksi tertanggal 26 Desember 2012.

Internal Audit Unit Aloysius L. Diaz is the Head of the Company's Internal Audit Unit, as provided for in and to comply with Regulation of the Financial Services Authority Number 56/POJK.04/2015 dated December 29, 2015 concerning Establishment and Guidelines on the Preparation of the Internal Audit Unit Charter. The legal basis of his appointment as the Head of Internal Audit Unit is Decision Letter of the Board of Directors dated December 26, 2012.

Perjalanan karir menjadi Auditor pada KAP Drs Utomo & Co/PT SGV Utomo (1979-1986), Finance & Accounting GM pada PT Hasfarm International Corporation (1986-1995), Finance & Accounting GM pada Para Group (1995-1996), Director pada PT Mozadi Industri Kimia (2000-2006), Representative Officer pada Vertical UK Llp (2006-2009), dan Plant General Manager pada PT Pacific Eastern Coconut Utama (2009-2012).

During his career, he has worked as Auditor at KAP Drs Utomo & Co/PT SGV Utomo (1979-1986), Finance & Accounting GM at PT Hasfarm International Corporation (1986-1995), Finance & Accounting GM at Para Group (1995-1996), Director at PT Mozadi Industri Kimia (20002006), Representative Officer at Vertical UK Llp (20062009), and Plant General Manager at PT Pacific Eastern Coconut Utama (2009-2012).

Struktur dan Kedudukan Unit Audit Internal Sesuai dengan Piagam Unit Audit Internal dan Struktur O r g a n i s a s i Pe r s e r o a n , U n i t A u d i t I n t e r n a l bertanggungjawab dan melaporkan seluruh aktifitas dan hasil kerja kepada Presiden Direktur secara langsung dan kepada Dewan Komisaris melalui Komite Audit Perseroan.

Structure and Position of the Internal Audit Unit In accordance with the Internal Audit Unit Charter and the Company's Organizational Structure, the Internal Audit Unit is accountable to and reports all activities and work results to the President Director directly and to the Board of Commissioners through the Company's Audit Committee.

Tugas dan Tanggung Jawab sesuai Piagam Unit Audit Internal 1. Menyusun dan melaksanakan rencana audit tahunan, termasuk pemeriksaan khusus bila diperlukan. 2. Mereview dan menilai kecukupan dan efektivitas fungsi manajemen risiko dan pengendalian intern Perseroan. 3. Memberikan saran perbaikan kepada manajemen sebagai tindak lanjut pemeriksaan. 4. Melaporkan hasil pemeriksaan kepada Presiden Direktur secara langsung dan Dewan Komisaris melalui Komite Audit. 5. Memantau, menganalisis, dan melaporkan pelaksanaan tindak lanjut perbaikan yang telah disarankan. 6. Menyusun dan melaksanakan program evaluasi mandiri tahunan atas mutu kinerja unit audit internal.

Duty and Responsibility in Accordance with the Internal Audit Unit Charter 1. To prepare and implement annual audit plan, including special audit if necessary. 2. To review and assess the sufficiency and effectiveness of the Company's risk management and internal control function. 3. To provide suggestion for improvement to the management as a follow-up of audit. 4. To report the result of audit to the President Director directly and to the Board of Commissioners through the Audit Committee. 5. To monitor, analyze, and report the implementation of improvement follow-up which has been suggested. 6. To prepare and implement annual self-evaluation program with regard to performance quality of the internal audit unit.

Kegiatan Unit Audit Internal Tahun 2016 Perencanaan penugasan dan penentuan objek penugasan menggunakan pendekatan berbasis risiko (risk-basedauditing), berdasarkan identifikasi dan analisa kondisi operasional dan finansial perseroan dan permintaan audit khusus dari Presiden Direktur.

Activities of Internal Audit Unit Year 2016 The planning of assignment and determination of assignment object uses the risk-based-auditing approach, based on identification and analysis of the company's operational and financial condition as well as request for special audit specifically from the President Director.


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Unit Audit Internal melaksanakan penugasan sesuai target yang ditetapkan pada PT Sentul City, Tbk dan anak perusahaan. Penugasan yang dilaksanakan meliputi area/fungsi seperti Manajemen Proyek, Persediaan Tanah, Penyusunan SOP, Bisnis dan Finansial, Manajemen Aset, Manajemen Persediaan, Tagihan & Arus Kas, dan Implementasi ERP.

The Internal Audit Unit performs assignment in accordance with the stipulated target at PT Sentul City, Tbk and subsidiaries. Implemented assignment consists of the areas/functions such as Project Management, Land Bank, Preparation of SOP, Business and Finance, Asset Management, Inventory Management, Receivables & Cash Flow, and ERP Implementation.

Sistem Pengendalian Internal Pengendalian keuangan dan operasional yang diterapkan oleh Perseroan adalah dengan melakukan pembagian tugas dan tanggung jawab Perseroan secara berjenjang dan dalam unit-unit kerja serta menerbitkan Surat Keputusan Direksi pada masing-masing unit kerja yang berisi standar operasional prosedur, aturan, tatacara unit kerja terkait beroperasi. Agar tugas dan tanggung jawab masing-masing unit kerja dapat berjalan dengan baik, efektif dan efisien maka :

Internal Control System Finance and operating control is maintained by the Company by division of tasks and responsibilities at levels and units and by issuing Board of Directors Decision Letter in each work unit stating the standard operating procedure, operating rules and procedures of work unit. In ensuring the effectiveness and efficiency of the performance of tasks and responsibilities of each work unit:

1. Seluruh proses operasional Perseroan harus sesuai dan berdasarkan standar operasional prosedur dan ketentuan yang berlaku, tidak terbatas pada ketentuan internal Perseroan dan ketentuan dan peraturan yang berlaku dibidang pasar modal.

1. All operating process of the Company must comply with the current standard operating procedures, including not limited to internal rules and capital market regulation.

2. Setiap unit kerja diwajibkan membuat KPI (Key Performance Indicators) yang akan membantu manajemen dalam menilai kinerja organisasi dan karyawan dari setiap unit kerja secara objektif dan terukur.

2. Each work unit is required to establish and maintain KPI (Key Performance Indicators) helpful for the management in objectively evaluating the performance of organization and employees of each work unit.

3. Setiap karyawan dari unit kerja, harus memahami deskripsi dan proses kerja pada unit kerjanya.

3. Each employee of work unit must understand fully the description and work process in the work unit.

Efektivitas Sistem Pengendalian Interen Perseroan menilai bahwa upaya pengendalian interen yang dilakukan oleh manajemen sampai saat ini telah berjalan dengan baik dan efektif berdasarkan hasil evaluasi kinerja organisasi dan karyawan.

Effectiveness of Internal Control System The company recognizes that the internal control maintained by the management to this date is fairly effective based on evaluation on the performance of company and employees.

Sistem Manajemen Risiko Perseroan melaksanakan sistem Manajemen Risiko yang terintegrasi, dikoordinasi oleh Presiden Direktur, dengan melibatkan berbagai jenjang dalam manajemen, agar sebuah kebijakan strategis yang dibuat dapat terlaksana dengan sebaik-baiknya serta tetap dapat mengelola dan mengantisipasi ketidakpastian yang mungkin timbul.

Risk Management System The company establishes and maintains an integrated Risk Management System, coordinated by the President Director, by involving various levels in the management, so that the Company's strategic policy can be effectively implemented while managing and anticipating any possible uncertainty.

Risiko & Upaya Mengelolaannya 1. Kenaikan harga bahan bangunan & kelangkaan bahan bangunan.

Risk & Managerial Measures 1. Increase in Material Price & Scarcity

Kenaikan harga bahan bangunan yang signifikan atau cukup tinggi atau tidak tersedianya bahan bangunan dipasaran pada saat dibutuhkan dapat menjadi salah satu sebab keterlambatan dalam penyelesaian

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The significant increase in price and scarcity of building materials in the market may be recognized as one of the causes of slippage in completing the construction works, handover which resulted in delayed revenue


bangunan, penundaan serah terima bangunan sehingga berakibat pada mundurnya pengakuan pendapatan Perseroan dari penjualan rumah tersebut. Mundurnya serah terima bangunan tersebut di atas dapat mengakibatkan pada hilangnya atau paling tidak mempengaruhi kepercayaan para konsumen/calon konsumen yang pada akhirnya menurunkan jumlah pendapatan Perseroan.

from the sales of units. This slippage resulted in loss of trust by the customer/prospective customers eventually reducing the revenue of Company.

Upaya Perseroan untuk mengurangi risiko kenaikan harga bahan bangunan dan kelangkaan bahan bangunan adalah dengan merencanakan secara seksama pemakaian komponen material bangunan dan membuat proyeksi kebutuhan pemakaian dalam kurun waktu satu tahun ke depan, membuat kontrak untuk satu tahun berjalan dengan para vendor dan supplier terkait untuk mengikat harga dan ketersediaan pasokan dan mempercepat proses pembangunan rumah yang telah terjual dan mempercepat penyerahan kepada pembeli.

The measures taken by the Company to reduce the risks from increase in price and scarcity of building materials is by thoroughly planning the use of material components and making projections as to the need for the next period of one year, entering into contract with vendor for one year to set price and ensure availability of supplies and accelerating the construction of house units sold and handover to the buyer.

2. Persaingan usaha Banyaknya perusahaan pengembang yang mengelola kawasan pemukiman baru di daerah selatan Jakarta ataupun yang tidak terlalu jauh dari Jakarta dengan

2. Business Competition The increasing number of developer companies managing new settlements situated in south Jakarta or areas not too far from Jakarta with adequate access


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akses yang cukup memadai dan cukup mudah seperti di daerah Taman Mini, Cibubur dan Bogor, merupakan kondisi riil bahwa Perseroan menghadapi pesaing usaha yang kuat atau tidak bisa dipandang sebelah mata. Berkaitan dengan hal tersebut Perseroan menyadari bahwa kenyataan itu dapat menjadi salah satu sebab atau mempengaruhi tingkat permintaan hunian dan berkurangnya daya serap konsumen atas produk yang ditawarkan oleh Perseroan.

as Taman Mini, Cibubur and Bogor is a reality that the Company is presently facing strong competitors or those the company should not underestimate. With this reality, the company should realize that it is one of the causes or resulting in decreased number of demand for settlement and acceptability of consumers of the products offered by the Company.

Upaya Perseroan untuk mengurangi risiko terkait persaingan usaha adalah dengan memberikan berbagai kemudahan & penawaran yang menarik terkait mengenai harga, cara pembayaran dan pengembangan berbagai fasilitas baru pendukung kawasan, untuk menambah fasilitas yang telah ada dalam rangka memenuhi kebutuhan warga kawasan Sentul City dan menarik calon konsumen.

The measures adopted by the company to minimize the risks arising from business competition may include various facilities & interesting offers as to prices, terms of payment and improvement of new supporting facilities for the settlement, addition of existing facilities in fulfilling the needs of residents in Sentul City and attract potential customers.

3. Peraturan pemerintah Adanya peraturan pemerintah berkaitan dengan perubahan rasio persentasi hunian dari 1:3:6 menjadi 1:2:3.

3. Government Regulations The enactment of government regulation changing the settlement percentage ratio from 1:3:6 to 1:2:3.

Upaya Perseroan untuk mengurangi resiko terkait peraturan pemerintah tersebut adalah dengan membuat strategi perencanaan yang akurat sesuai ketentuan yang berlaku.

One of the measures the company may adopt to minimize the risks associated with the government regulation is by setting accurate planning strategy in accordance with the applicable laws and legislations.

4. Risiko Keuangan Telah diuraikan dalam Laporan Keuangan Perseroan.

4. Financial Risk Described in the Company's Financial Statements.

Efektivitas Sistem Manajemen Risiko Perseroan menilai bahwa upaya pengelolaan risiko yang dilakukan oleh manajemen sampai saat ini telah berjalan dengan baik dan efektif.

Effectiveness in Risk Management System The company recognizes that the risk management measures adopted to this date is fairly effective and efficient.

Perkara Perseroan memiliki beberapa kasus hukum terkait kepemilikan tanah, yang tidak material. Berdasarkan pengalaman kasus sebelumnya semua kasus tanah dapat diselesaikan dan tidak mempunyai pengaruh yang signifikan terhadap keuangan serta kelangsungan usaha Perseroan.

Important Cases The Company has several legal cases related to land ownership, which are not material. Based on the experience in the previous cases, all land cases can be settled and have no significant impact on the Company's financials and business continuity.

Informasi mengenai kode etik a. Pokok-pokok kode etik Perseroan berisi : Latar belakang, visi misi, tujuan, nilai dasar, pedoman perilaku, sanksi, perubahan dan penutup. b. Kode Etik Perseroan disusun sebagai pedoman perilaku. Penyusunan Kode Etik mengacu dan untuk memenuhi Ketentuan Peraturan Otoritas Jasa Keuangan Nomor : 33/POJK.04/2014, tentang Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik khususnya Pasal 36 dan berlaku untuk seluruh anggota Direksi, Dewan Komisaris, Komite Audit dan Karyawan Perseroan.

Information on Code of Conduct a. The Key Points of the Company's Code of Conduct include: Background, Vision Mission, Goals, Basic Value, Code of Conduct, Penalty, Amendment and closing. b. The Company's Code of Conduct is made to serve as guidelines. The code of conduct is made under and for the purposes of the Financial Services Authority Regulation Number: 33/POJK.04/2014 on Board of Directors and Board of Commissioners of Issuer and Public Company specifically the provisions of Article 36 and is applicable to all members of the Board of Directors, Board of Commissioners, Audit Committee and Employees.

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Pedoman Tata Kelola

No A

Aspek, Prinsip dan Rekomendasi Tata Kelola Aspects, Principles and Recommendations Governance

Telah Dilaksanakan Implemented

Belum Dilaksanakan Not Implemented

Hubungan Perusahaan Terbuka Dengan Pemegang Saham Dalam Menjamin Hak-Hak Pem egang Saham. Prinsip 1 Meningkatkan Nilai Penyelenggaraan Rapat Umum Pemegang Saham (RUPS).

1.1

Perusahaan Terbuka memiliki cara atau prosedur teknis pengumpulan suara (voting) baik secara terbuka maupun tertutup yang mengedepankan independensi, dan kepentingan pemegang saham.

1.2

Seluruh anggota Direksi dan anggota Dewan Komisaris Perusahaan Terbuka hadir dalam RUPS Tahunan.

1.3

Ringkasan risalah RUPS tersedia dalam Situs Web Perusahaan Terbuka paling sedikit selama 1 (satu) tahun.

Terdapat seorang anggota Dewan Komisaris dan seorang anggota Direksi tidak datang. There is a member of the Board of Commissioners and a Director not present.

Prinsip 2 Meningkatkan Kualitas Komunikasi Perusahaan Terbuka dengan Pemegang Saham atau Investor. 2.1

Perusahaan Terbuka memiliki suatu kebijakan komunikasi dengan pemegang saham atau investor.

2.2

Perusahaan Terbuka mengungkapkan kebijakan komunikasi Perusahaan Terbuka dengan pemegang saham atau investor dalam Situs Web.

B

Fungsi dan Peran Dewan Komisaris Prinsip 3 Memperkuat Keanggotaan dan Komposisi Dewan Komisaris.

3.1

Penentuan jumlah anggota Dewan Komisaris mempertimbangkan kondisi Perusahaan Terbuka.

3.2

Penentuan komposisi anggota Dewan Komisaris memperhatikan keberagaman keahlian, pengetahuan, dan pengalaman yang dibutuhkan. Prinsip 4 Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Dewan Komisaris.

4.1

Dewan Komisaris mempunyai kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Dewan Komisaris.


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No 4.2

Kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Dewan Komisaris, diungkapkan melalui Laporan Tahunan Perusahaan Terbuka.

4.3

Dewan Komisaris mempunyai kebijakan terkait pengunduran diri anggota Dewan Komisaris apabila terlibat dalam kejahatan keuangan.

4.4

Dewan Komisaris atau Komite yang menjalankan fungsi Nominasi dan Remunerasi menyusun kebijakan suksesi dalam proses Nominasi anggota Direksi.

C

FUNGSI DAN PERAN DIREKSI Prinsip 5 Memperkuat Keanggotaan dan Komposisi Direksi.

5.1

Penentuan jumlah anggota Direksi mempertimbangkan kondisi Perusahaan Terbuka serta efektifitas dalam pengambilan keputusan.

5.2

Penentuan komposisi anggota Direksi memperhatikan, keberagaman keahlian, pengetahuan, dan pengalaman yang dibutuhkan.

5.3

Anggota Direksi yang membawahi bidang akuntansi atau keuangan memiliki keahlian dan/atau pengetahuan di bidang akuntansi. Prinsip 6 Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Direksi.

6.1

Direksi mempunyai kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Direksi.

6.2

Kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Direksi diungkapkan melalui laporan tahunan Perusahaan Terbuka.

6.3

Direksi mempunyai kebijakan terkait pengunduran diri anggota Direksi apabila terlibat dalam kejahatan keuangan.

D

PARTISIPASI PEMANGKU KEPENTINGAN Prinsip 7 Meningkatkan Aspek Tata Kelola Perusahaan melalui Partisipasi Pemangku Kepentingan.

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No


7.1

Perusahaan Terbuka memiliki kebijakan untuk mencegah terjadinya insider trading.

7.2

Perusahaan Terbuka memiliki kebijakan anti korupsi dan anti fraud.

7.3

Perusahaan Terbuka memiliki kebijakan tentang seleksi dan peningkatan kemampuan pemasok atau vendor.

7.4

Perusahaan Terbuka memiliki kebijakan tentang pemenuhan hakhak kreditur.

7.5

Perusahaan Terbuka memiliki kebijakan sistem whistleblowing.

7.6

Perusahaan Terbuka memiliki kebijakan pemberian insentif jangka panjang kepada Direksi dan karyawan.

E

KETERBUKAAN INFORMASI



Prinsip 8 Meningkatkan Pelaksanaan Keterbukaan Informasi. 8.1

Perusahaan Terbuka memanfaatkan penggunaan teknologi informasi secara lebih luas selain Situs Web sebagai media keterbukaan informasi.

8.2

Laporan Tahunan Perusahaan Terbuka mengungkapkan pemilik manfaat akhir dalam kepemilikan saham Perusahaan Terbuka paling sedikit 5% (lima persen), selain pengungkapan pemilik manfaat akhir dalam kepemilikan saham Perusahaan Terbuka melalui pemegang saham utama dan pengendali.


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86


TANGGUNG JAWAB SOSIAL PERUSAHAAN Corporate Social Responsibility


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Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility

Perseroan sebagai badan hukum yang merupakan bagian dari masyarakat, menyadari bahwa dalam melaksanakan kegiatan usahanya, melekat pula tanggung jawab sosial Perusahaan. Berkenaan dengan hal tersebut Perseroan telah melakukan berbagai kegiatan antara lain sebagai berikut :

The Company, as a legal entity which constitutes a part of the society, is aware of that in conducting its business activity, corporate social responsibility is also inherent. With regard to this matter, the Company has conducted various activities, among other things as follows:

a. Bidang Lingkungan Hidup Perseroan secara bertahap melakukan hal-hal sebagai berikut : berupaya mengurangi penggunaan material kayu, mengembangkan bangunan dengan konsep green roof dan green building, tidak merubah kontur tanah secara radikal dalam membuka atau membangun lahan serta mengembangkan green development pada setiap area yang dikembangkan dengan mempertahankan ruang terbuka hijau berkisar 40 % sampai dengan 70 % dari luas area yang dikembangkan. Perseroan dalam menanam jenis pohon penghijauan dilakukan secara selektif dengan mempertimbangkan fungsinya untuk memperkuat lereng atau penahan erosi, memperkaya habitat fauna, menjaga iklim maupun mempertimbangkan unsur estetika.

a. In the Field of Environment The Company has gradually performed the following: making efforts of reducing the use of wooden materials, developing building by using the concept of green roof and green building, not changing the contour of the land radically in clearing or building on land as well as developing green development in each of the developed area by maintaining open green space between 40% and 70% of the developed area. The types of trees used in planting greenery are chosen selectively by the Company by taking into consideration their function to strengthen the slopes or inhibit erosion, enrich the habitat of fauna, and maintain the climate, as well as their aesthetic aspect.

Perseroan mengupayakan terpeliharanya kelestarian lingkungan alam di kawasan tempat Perseroan beroperasi, memperoleh perhatian yang serius dari seluruh pemangku kepentingan. Berkenaan dengan hal tersebut Studi Analisis Mengenai Dampak Lingkungan (AMDAL) yang dilakukan oleh Perseroan maupun Studi Upaya Pengelolaan dan Pemantauan Lingkungan (UKLUPL) tidak semata-mata hanya untuk memenuhi ketentuan yang berlaku tetapi termasuk dalam rangka memelihara dan sekaligus mempertahankan kondisi lingkungan yang asri, hijau dan segar sepanjang tahun, di kawasan Perseroan.

The Company's aspiration to preserve natural environment in the area where the Company operates has received serious attention from all stakeholders. In respect to this, the Environmental Impact Assessment (EIA) conducted by the Company as well as Environmental Management and Monitoring Efforts (UKL-UPL) are conducted not only for complying with the applicable provisions, but also in the context of protecting and at the same time maintaining a beautiful, green, and fresh environmental condition all year long in the surrounding area of the Company.

Pembangunan system pembuangan air limbah dan Instalasi pengolahannya oleh Perseroan, dalam beberapa kelompok dan hasil limbah yang telah diolah, tidak diresapkan ke dalam tanah melainkan didaur ulang untuk keperluan lain, seperti irigasi lapangan golf. Selain dari pada ini pada beberapa lokasi, Perseroan juga mengatur pelaksanaan pembuangan limbah cair antara lain dengan fasilitas Sewage Treatment Plant (STP) & Septictank ramah lingkungan sebelum mengalirkannya ke saluran drainase.

The Company builds wastewater discharge system and wastewater treatment plan in several clusters and the resulting processed waste is not absorbed into the ground but recycled for other purposes, such as golf course irrigation. In addition to this, at several locations, the Company also provides for the implementation of liquid waste discharge, among other things through the facilities of Sewage Treatment Plant (STP) & environmental-friendly Septic Tank prior to channeling it to the drainage channel.

Perseroan juga terus melakukan kerjasama dengan Dinas Kebersihan Kabupaten Bogor, untuk menangani berbagai permasalahan yang menyangkut sampah padat.

The Company will also continue to cooperate with the Sanitation Service Office of Bogor Regency to handle a number of issues relating to solid waste.

Perseroan juga membangun 3 (tiga) buah danau yang berfungsi untuk memperlambat air larian dan sebagai cadangan untuk penampungan sumber air baku.

The Company also built 3 (three) lakes with the function of slowing down water runoff and as reservoirs for holding the source of influent.

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b. Praktik Ketenagakerjaan Kesehatan dan Keselamatan Kerja

b. Manpower Practices: Occupational Health and Safety

Kesetaraan Gender dan Kesempatan Kerja Selain melalui pengembangan sumber daya manusia dalam bentuk pelatihan, peningkatan dan pembaharuan metoda dan proses perekrutan sumber daya manusia juga merupakan strategi yang dilakukan dalam rangka mencapai tujuan Perseroan. Hal ini dikarenakan dengan metode rekrutmen yang tepat maka Perseroan akan mendapatkan sumberdaya manusia yang sesuai dengan posisi, tugas, tanggung jawab, dan kualitas dari segi kompetensi yang dibutuhkan oleh Perseroan. Meskipun demikian dalam melakukan hal ini Perseroan tetap mengedepankan aspek kesetaraan gender dan kesempatan kerja. Semua calon karyawan dengan gender apapun mendapatkan hak yang sama untuk mengajukan lamaran pekerjaan dan mengikuti proses seleksi perekrutan tanpa ada perbedaan. Dalam proses rekrutmen yang diterapkan oleh perseroan tidak ada diskriminasi atau perbedaan terhadap gender tertentu.

Equality of Gender and Employment Opportunity In addition to through human resource development in the form of training, the improvement and renewal of method and process of recruitment of human resources is also the strategy implemented in the context of achieving the Company's objective. This is because by using the right recruitment method, the Company will obtain the right human resources in accordance with the position, duty, responsibility, and quality, in terms of competency, which it requires. However, in doing this, the Company continues to promote the aspect of equality of gender and employment opportunity. All prospective employees with any gender have the right to apply for a job and follow the recruitment selection process without any discrimination. In the recruitment process implemented by the Company, there is no discrimination or differentiation on certain gender.


89


Sarana dan Keselamatan Kerja Perseroan telah menetapkan standar keselamatan kerja yang mengacu pada peraturan MK3 (Manajemen Keselamatan dan Kesehatan Kerja). Dalam penerapannya di kegiatan operasional perusahaan diberlakukannya pengawasan ketat terhadap pelaksanaan SOP (standar operasi dan prosedur). Dalam kaitannya dengan aktivitas utama Perseroan maka seluruh aktivitas tersebut benar-benar diawasi dengan ketat. Baik yang berkaitan dengan pihak-pihak internal Perseroan maupun pihak eksternal semisal rekanan kerja.

Occupational Safety and Facilities The Company has stipulated occupational safety standards which refer to regulation on MK3 (Occupational Health and Safety Management). In its implementation in the company's operational activities, a strict supervision applies on the implementation of SOP (Standard Operating Procedure). In respect to the Company's main activity, all of these activities are actually strictly supervised, for both activities related to internal parties within the Company as well as external parties such as business partners.

Tingkat Perpindahan Karyawan Jumlah karyawan yang mengundurkan diri dari Perseroan di tahun 2016 sejumlah 107. Bila diprosentasekan maka tingkat perpindahan karyawan (turnover) adalah 16,6%.

Employee Turnover Rate The number of employees resigning from the Company in 2016 was 107. In percentage, the employee turnover rate was 16.6%.

Tingkat Kecelakaan Kerja Berkat kedisiplinan seluruh sumber daya manusia dalam perseroan dalam mentaati seluruh regulasi dan standar operasi kerja maka tingkat kecelakaan kerja di tahun 2016 adalah 0. Jumlah ini sama dengan tahuntahun sebelumnya yang membuktikan bahwa dengan mentaati seluruh prosedur keselamata kerja maka keselamata para karyawan akan terjamin.

Work-Related Injury Rate Thanks to the discipline of all human resources in the Company in adhering to all regulations and standard operating procedures, work-related injury rate in 2016 was 0. The number is the same as in the preceding years, which proves that by adhering to all occupational safety procedures, the safety of employees will be guaranteed.

Pendidikan Dan/Atau Pelatihan Seirama dengan tujuan perseroan secara global yang telah ditetapkan maka pengembangan sumber daya manusia dilakukan secara sistematis dan terencana dengan mengedepankan aspek yang terkait langsung dengan core business dari perseroan.

Education and/or Training In line with the Company's stipulated global objective, the development of human resources is implemented in a planned, systematic way by promoting aspects directly related to the core business of the Company.

Program pengembangan sumber daya manusia dalam bentuk pelatihan yang telah dilakukan selama 2016 antara lain:

Human resource development program in the form of trainings which have been conducted in 2016 are, among other things, as follows:

No

Topik Pelatihan Topic of Training

Waktu Time

Total Partisipan Total Participants

1

Pelatihan Wali Cluster/Cluster Head Training

Agustus/August 2016

12

2

Pelatihan Security - Kesamaptaan & Outbound/Security Readiness & Outbound Training

Agustus/August 2016

144

3

Pelatihan Sales Executive/Sales Executive Training (Soft Skills & Technical Skills)

Agustus- Desember/August -December 2016

150

4

Pelatihan Pelaporan SPT online/Online Annual Tax Return Reporting Training

Maret/March 2016

138

5

Pelatihan Project Management/Project Management Training

21-22 Januari/January 2016

31

6

Narrative and Crisis SOP Socialization

04 Februari/February 2016

30

7

Problem Solving & Decision Making Batch II

9 - 11 Februari/February 2016

33

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Remunerasi Untuk mempertahankan daya saing perusahaan maka perseroan menerapkan strategi paket remunerasi yang sama yang telah diimplementasikan pada tahun-tahun sebelumnya. Selain itu perseroan telah memulai membuat skema struktur remunerasi baru yang akan diterapkan kepada karyawan dalam rangka memotivasi para karyawan sehingga dapat berkontribusi secara maksimal terhadap perusahaan. Berkenaan dengan tersebut, proses selanjutnya adalah tahap pelaksanaan disertai dengan evaluasi yang teratur dan berkala serta berkesinambungan guna mencapai tujuan yang ingin dicapai dari program remunerasi itu sendiri.

Remuneration In order to maintain corporate competitiveness, the Company implements the same remuneration package strategy as the one implemented in the preceding years. In addition to that, the Company has started to prepare a scheme of the new remuneration structure which will be applied to employees in the context of motivating employees in order to provide maximum contribute to the Company. In respect to this, the next process is the implementation phase, along with regular, periodic, and continuous evaluation to achieve the objective which is expected to be achieved from the remuneration program itself.

c. Pengembangan Sosial dan Kemasyarakatan Perseroan telah menggunakan banyak tenaga kerja lokal di sekitar tempat Perseroan beroperasi, yang ditempatkan pada berbagai unit kerja. Penempatan tenaga kerja lokal tersebut disesuaikan dengan kemampuan yang dimiliki, antara lain di bidang administrasi, pengelola kota dan keamanan.

c. Social and Community Development The Company has used a large number of local workers from the area surrounding the location where the Company operates, who are placed in different work units. The placement of local workers is adjusted to their capacity, among other things, in the field of administration, town management, and security.

Jumlah karyawan yang berasal dari tenaga kerja lokal tercatat ada 495, atau sekitar 76,77% dari total sumber daya manusia yang ada di Perseroan. Namun demikian, proses seleksi karyawan tetap mempergunakan standar yang berlaku di Perseroan.

The number of employees originating from local workers is recorded at 495, or approximately 76.77% of total human resources at the Company. However, employee selection process continues to use the standard applicable at the Company.

Perseroan sangat peduli terhadap pemberdayaan masyarakat, sehubungan dengan hal tersebut Perseroan telah menyelenggarakan berbagai kegiatan sosial yang bersentuhan langsung dengan warga masyarakat sekitar wilayah Babakan Madang baik bekerjasama dengan pihak lain maupun secara swadaya, yang menyangkut berbagai bidang antara lain Pendidikan, Kesehatan dan Sosial lainnya.

The Company pays close attention to community empowerment, and in relation to this, the Company has organized various social activities which come directly in contact with community members in the surrounding area of Babakan Madang, whether in cooperation with other party or on its own, in various fields such as, among other things, Education, Health, and other Social affairs.

d. Tanggung Jawab Produk Mengenai Produk yang dihasilkan, Perseroan yakin bahwa telah memenuhi ketentuan SNI (Standar Nasional Indonesia). Oleh karena itu semua produk yang ditawarkan oleh Perseroan baik berupa bangunan rumah ataupun rumah toko (RUKO), tidak hanya telah memenuhi unsur kesehatan dan keselamatan namun diharapkan juga telah memenuhi unsur kenyamanan bagi para penghuninya.

d. Product Responsibility With regard to the generated Product, the Company believes that it has complied with the provisions of SNI (the Indonesian National Standard). Therefore, all products offered by the Company, whether in the form of a house or shophouse, have not only complied with the health and safety elements, but have also complied with the element of comfort for its inhabitants.

Biaya yang dikeluarkan berkaitan dengan pelaksanaan tanggung jawab sosial perusahaan terhadap masyarakat dan lingkungan pada tahun buku 2016, lebih kurang Rp. 653.947.185.00 (enam ratus lima puluh tiga juta sembilan ratus empat puluh tujuh ribu seratus delapan puluh lima rupiah).

The costs incurred in relation to the implementation of corporate social responsibility to the community and environment in the 2016 fiscal year were approximately Rp. 653,947,185.00 (six hundred fifty-three million nine hundred forty-seven thousand one hundred eighty-five rupiah).


91

LAPORAN KEUANGAN TAHUNAN YANG TELAH DIAUDIT Audited Annual Financial Statements

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PT Sentul City Tbk. (Perseroan) Sentul City Building Jl. MH. Thamrin Kav 8, Sentul City Bogor 16811, Indonesia Phone : +62 21 8792 6555 Fax : +62 21 8792 6565 Email : [email protected] Website : www.sentulcity.co.id Laporan Tahunan 2016 Annual Report 2016

PT Sentul City Tbk. Laporan Tahunan. Annual Report

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