€¦ · annual reort 2017 Fakta pertumbuhan ekonomi makro yang kian positif tidak selalu berbanding lurus dengan situasi bisnis ketenagalistrikan. Namun hal itu tidak menyurutkan

annual report 2017

laporan tahunan 2017

www.sewatama.com

annual report 2017

Fakta pertumbuhan ekonomi makro yang kian positif tidak selalu berbanding lurus dengan situasi bisnis ketenagalistrikan. Namun hal itu tidak menyurutkan semangat Sewatama untuk senantiasa berbenah diri. Daya juang dan daya kreatif sudah sepenuhnya dikerahkan. Mulai dari aspek terkecil dari setiap proses di setiap lini, di mana langkah-langkah diperhitungkan dengan matang, dipertimbangan dengan seksama, dilakukan bersama-sama dengan cara luar biasa. Hingga Sewatama menjadi pemenang di bisnis ketenagalistrikan berkat operational excellence di setiap detail. Saatnya semua lini bisnis bersinergi, semua divisi bersatu hati. Menjawab setiap tantangan dari luar dengan prestasi. Perlahan tapi pasti, Sewatama bersiap buktikan diri menjadi yang terunggul di masa mendatang.

The fact that macroeconomic growth is more positive is not always directly proportional to the electricity business situation. But it does not dampen the spirit of Sewatama to always improve themselves. The fighting power and creative power are fully deployed. Starting from the smallest aspect of each process in every line, where steps are carefully calculated, carefully considered, is done together in an extraordinary way. Until Sewatama became the winner in the electricity business thanks to operational excellence in every detail. It’s time for all business lines to work together, all divisions are united. Answering every challenge from the outside with achievement. Slowly but surely, Sewatama prepares to prove himself to be the best in the future.

Winning Every Inch Winning Together

laporan tahunan 2017laporan tahunan 2017

Daftar IsiCONTENTS

2

1 IkhtisarHIGHLIGHTSPenjelasan TemaCover Story

1

Ikhtisar KeuanganFinancial Highlights

Kronologi Penerbitan ObligasiBond’s Issuance Chronology

Peristiwa Penting 2017Significant Events 2017

2 Profile PerusahaanCOMPANY PROFILESekilas SewatamaSewatama at a glance

46

Bidang Usaha IntiCore Business Units

48

Struktur OrganisasiOrganization Structure

60

Visi, Misi & Nilai PerusahaanVision, Mission & Corporate Values

62

Jejak LangkahMilestones

64

Profil Dewan Komisaris & Direksi Board of Commissioner’s & Board of Director’s

66

4

6

22

Laporan Dewan KomisarisReport From the Board of Commissioners

Laporan Dewan DireksiReport From the Board of Directors

Pernyataan Dewan Komisaris dan DireksiBoard of Commissioner’s and Director’s Statements

Profil Komite AuditAudit Commitee’s Profile

Profil Pejabat EksekutifProfile of Executive Officers

Komposisi Kepemilikan SahamShareholders Composition

Anak PerusahaanSubsidiaries

Lembaga dan Profesi PenunjangPasar ModalCapital Market Supporting Institutionsand Professions

24

34

42

72

76

78

80

85

annual report 2017annual report 2017 3

3 Analisa dan Pembahasan ManajemenMANAGEMENT DISCUSSION AND ANALYSISTinjauan UmumOverview

88 Tinjauan PasarMarket Review

95 Tinjauan OperasionalOperational Overview

98

Sekretaris PerusahaanCorporate Secretary

160

Unit Audit InternalInternal Audit Unit

Akuntan PublikPublic Accounting Firm

Manajemen RisikoRisk Management

Sistem Pengendalian InternalInternal Control System

Sistem Pengendalian Operasional dan KeuanganOperational and Financial Control System

Akses Informasi dan Data PerusahaanCorporate Information and Data Access

165

170

171

175

176

179

Pembayaran Pungutan OJKOJK Payment

181

4 Tata Kelola PerusahaanGOOD CORPORATE GOVERNANCETata Kelola Perusahaan yang BaikGood Corporate Governance

106

Prinsip dan Komitmen Implementasi GCGGCG Principles and Commitment

Rencana Pengembangan GCG 2018GCG Development Plan 2018

Struktur dan Mekanisme GCGGCG Structure and Mechanism

Rapat Umum Pemegang SahamGeneral Meeting of Shareholders (GMS)

Dewan KomisarisBoard of Commissioner

DireksiBoard of Directors

107

111

112

114

120

129

Komite AuditAudit Committee

146

Daftar Pemegang Obligasi KhususBoard of Directors

182

Perkara Penting yang Dihadapi PerusahaanMaterial Ligitations Faced By The Company

183

Sistem Pelaporan PelanggaranWhistleblowing System

188

Keberagaman Komposisi Dewan Komisaris dan DireksiBoard of Commissioner’s and Board of Director’s Composition Diversity

193

5Laporan KeberlanjutanSustainabilityReport

6Laporan KeuanganFinancialReport

7 Referensi OJKOJK Cross Reference

HalamanPage

198 HalamanPage

241 HalamanPage

373

Kode Etik PerusahaanCode of Conduct

184


Keterangan Tahun 2017 Tahun 2016 Tahun 2015

Total Aset Lancar Total Current Assets 771.047 716.915 1.118.357

Total Aset Tidak Lancar Non-Current Assets 2.213.385 2.404.081 2.828.494

Total Aset Total Assets 2.984.432 3.120.996 3.946.851

Total Liabilitas Jangka Pendek Total Current Liabilities 437.286 2.969.688 2.342.947

Total Liabilitas Jangka Panjang Non-Current Liabilities 2.615.025 31.323 861.490

Total Liabilitas Total Liabilities 3.052.311 3.001.011 3.204.437

Total Ekuitas Total Equity - 67.879 119.985 742.414

Pendapatan Revenues 996.402 1.265.337 1.517.716

Beban Pokok Pendapatan Cost of Revenues - 852.906 -1.000.021 - 1.246.520

Laba Bruto Gross Profit 143.496 265.316 271.196

Laba (Rugi) Usaha Income (Loss) from Operations - 60.221 - 252.630 -182.782

Laba (Rugi) Tahun Berjalan Income (Loss) for The Year - 185.899 - 317.636 - 282.930

Total Rugi Komprehensif Tahun Bejalan Total Comprehensive (Loss) for The Year - 187.864 - 328.133 - 275.789

Earning Before Income, Tax, Depreciation, Amortization (EBITDA) 339.295 298.983 389.581

Arus Kas dari Aktivitas Operasi Cash Flows from Operating Activities 459.381 482.799 714.827

Arus Kas dari Aktivitas Investasi Cash Flows from Investing Activities - 277.142 - 89.603 -282.031

Arus Kas dari Aktivitas Pendanaan Cash Flows from Funding Activities - 188.000 - 751.220 - 12.455

Rasio Keuangan Financial Ratio

Rasio Hutang terhadap Ekuitas Debt to Equity Ratio - 23,26x 13,55x 2,62x

Rasio Hutang terhadap Cakupan Layanan Debt Service Coverage Ratio 2,45x 0,24x 0,60x

Rasio Hutang terhadap Ebitda Debt to Ebitda 4,65x 5,44x 4,87x

IkhtisarKeuangan

FINANCIAL HIGHLIGHTS

DALAM JUTAAN RUPIAH IN MILLIONS OF RUPIAH

ikhtisar | ikhtisar keuangan

annual report 2017 5

Keterangan Tahun 2017 Tahun 2016 Tahun 2015

Total Aset Lancar Total Current Assets 771.047 716.915 1.118.357

Total Aset Tidak Lancar Non-Current Assets 2.213.385 2.404.081 2.828.494

Total Aset Total Assets 2.984.432 3.120.996 3.946.851

Total Liabilitas Jangka Pendek Total Current Liabilities 437.286 2.969.688 2.342.947

Total Liabilitas Jangka Panjang Non-Current Liabilities 2.615.025 31.323 861.490

Total Liabilitas Total Liabilities 3.052.311 3.001.011 3.204.437

Total Ekuitas Total Equity - 67.879 119.985 742.414

Pendapatan Revenues 996.402 1.265.337 1.517.716

Beban Pokok Pendapatan Cost of Revenues - 852.906 -1.000.021 - 1.246.520

Laba Bruto Gross Profit 143.496 265.316 271.196

Laba (Rugi) Usaha Income (Loss) from Operations - 60.221 - 252.630 -182.782

Laba (Rugi) Tahun Berjalan Income (Loss) for The Year - 185.899 - 317.636 - 282.930

Total Rugi Komprehensif Tahun Bejalan Total Comprehensive (Loss) for The Year - 187.864 - 328.133 - 275.789

Earning Before Income, Tax, Depreciation, Amortization (EBITDA) 339.295 298.983 389.581

Arus Kas dari Aktivitas Operasi Cash Flows from Operating Activities 459.381 482.799 714.827

Arus Kas dari Aktivitas Investasi Cash Flows from Investing Activities - 277.142 - 89.603 -282.031

Arus Kas dari Aktivitas Pendanaan Cash Flows from Funding Activities - 188.000 - 751.220 - 12.455

Rasio Keuangan Financial Ratio

Rasio Hutang terhadap Ekuitas Debt to Equity Ratio - 23,26x 13,55x 2,62x

Rasio Hutang terhadap Cakupan Layanan Debt Service Coverage Ratio 2,45x 0,24x 0,60x

Rasio Hutang terhadap Ebitda Debt to Ebitda 4,65x 5,44x 4,87x

2015 2016 2017

1.5181.265

996

PENDAPATANREVENUE

Rp JUTA/Rp MILLION

2015 2016 2017

183253

60

LABA (RUGI) USAHAINCOME (LOSS) FROM OPERATING

Rp JUTA/Rp MILLION

2015 2016 2017

3,947

3,1212,984

TOTAL ASETTOTAL ASSETS

Rp JUTA/Rp MILLION

2015 2016 2017

742

120

-67,8

EKUITASEQUITY

Rp JUTA/Rp MILLION

2015 2016 2017

390

299339

EBITDAEBITDA

Rp JUTA/Rp MILLION

2015 2016 2017

715

483459

ARUS KAS DARI AKTIVASI OPERASICASH FLOWS FROM OPERATING ACTIVITIES

Rp JUTA/Rp MILLION

highlights | financial highlights


/201

26 ikhtisar | ikhtisar keuangan

KronologiPenerbitan Obligasi

BOND’S ISSUANCE CHRONOLOGY

APRIL MEI JUNI JULI AGUSTUS

April 2012 Pemaparan dan permohonan persetujuan Dewan Komisaris dan Direksi mengenai rencana penerbitan obligasi.

April 2012 Exposure and request for approval from the Board of Commissioners and Board of Directors regarding the bond issuance plan.

Mei 2012 Sharing session penerbitan obligasi dari Asta untuk diberikan kepada karyawan level manager ke atas.

May 2012 Sharing session related to bond issuance conducted by Astra for managers and above.

Juni 2012 • Sosialisasi internal mengenai rencana penerbitan obligasi ke seluruh karyawan. • Sesi tanya jawab.

Juni 2012 • Internal socialization of bond issuance plan to all employees. • Question and answer session.

Juli 2012 Kick Off ditujukan untuk proyek-proyek internal. Penilaian peringkat oleh badan pemeringkat efek Indonesia, Pelindo, Pefindo, diawali dengan rencana kunjungan Pefindo ke Sewatama

August 2012Kick-off meeting intended forthe assigned internal projectteams. Assessment ranked bysecurities rating agency, PTPefindo, which began with avisit by Pefindo to Sewatama.

Agustus 2012 Penunjukan lembaga profesi penunjang mencakup underwriter, legal, wali amanat dan notaris.

August 2012 Appointment of professional underwriters, legal consultants, trustees and notary.

annual report 2017

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5

November 2015 Pelunasan pokok obligasi serie A Sumberdaya Sewatama, tahun 2012

November 2015 Repayment of the principal of the series A bond Sumberdaya Sewatama, in 2012

Juni 2017 Berhasil mendapatkan kepercayaan dari pihak pemberi pinjaman dan pemegang obligasi untuk menjadwalkan kembali kewajiban pembayaran sampai dengan tahun 2022 dengan opsi sampai dengan tahun 2024.

June 2017 Sewatama lenders and bond holders had confidence in Sewatama’s performance so as to re-extend the maturity date up to 2022 with options up to 2024.

November 2012 • Pencatatan Sewatama sebagai emiten di BEI dan Kustodian Sentra Efek Indonesia (KSEI) melalui Bapepam (kode “SSMM”) • Pembahasan dan pengisian dokumen analis pefindo

November 2012 • Sewatama was listed on IDX and Indonesia Central Securities Depository (KSEI) through Bapepam (Code:”SSMM”) • The Discussion and analysis documents filing at pefindo

7highlights | financial highlights

SEPTEMBER OCTOBER NOVEMBER DESEMBER NOVEMBER

September 2012 Pelaksanaan uji tuntas (Due Diligence) dan pembahasan PWA. Persiapan sosialisasi eksternal terkait penerbitan obligasi.

September 2012 Due Diligence and discussion on PWA. Preparation of external socialization related to the issuance of bonds.

Desember Posisi resmi penerbit obligasi per 31 Desember 2012

December 2015 The official position of the issuer by December 31, 2012

October 2012 • Pefindo menerbitkan peringkat IdA,idA (sy) • Penyerahan dokumen registrasi I,II,III • Paparan Publik (Public Expose). • Mini Expo di Bursa Efek Indonesia (BEI) untuk menarik minat publik melalui temu muka dengan calon pembeli dan presentasi oleh manajemen.

October 2012

Pefindo announced Sewatama’s rank: idA, idA(sy) • Submission of registration documents I, II, Ill. • Public Expose. • Mini Expo in Indonesia Stock Exchange (IDX) to grab public interest through face to face interaction with prospective investors, and presentation from the management.

JUNI

/201

7

laporan tahunan 20178 ikhtisar | ikhtisar keuangan

No

Jenis Penawaran Umum

Type of Public Offering

Tanggal EfektifEffective Date

Nilai Realisasi Hasil Penawaran UmumValue Realization of Public Offering

Rencana Penggunaan Dana Menurut Prospektus Fund Plan According to Prospectus

Realisasi Penggunaan Dana Menurut Prospektus Fund Realization According to Prospectus

Sisa Dana Hasil Penawaran

Umum Remaining

Fund

Jumlah hasil Penawaran Umum

Total Public Offering

Biaya Penawaran Umum

Public Offering Costs

Hasil Bersih Net Profit Refinancing

WorkingRecapital Total Refinancing

WorkingRecapital Total

1 2 3 4 5 6 7 8 10 11 12 13 14

% 0,77% 100% 60% 40% 100% 60% 30% 90% 10%

1Penawaran Umum

(Obligas Bond) 30 November 2012 800.000.000

7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 992.296.333.091 0

2Penawaran Umum

(Sukuk Ijarah) 30 November 2012 200.000.000

TOTAL 1.000.000.000.000 7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 892.296.333.091 0

PER JUNI 2014AS OF JUNE 2014

No








Umum Remaining

Fund








1 2 3 4 5 6 7 8 10 11 12 13 14

% 0,77% 100% 60% 40% 100% 60% 30% 98% 8%

1Penawaran Umum


7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 992.296.333.091 20.000.000.000

2Penawaran Umum


TOTAL 1.000.000.000.000 7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 972.296.333.091 20.000.000.000

PER MARET 2014AS OF MARCH 2014

Rincian Biaya Penawaran Umum dilembar berikutnya

Laporan Realisasi Penggunaan Dana Hasil Penawaran UmumFUND ALLOCATION REALIZATION OF PUBLIC OFFERING

annual report 2017 99highlights | financial highlights

No








Umum Remaining

Fund








1 2 3 4 5 6 7 8 10 11 12 13 14

% 0,77% 100% 60% 40% 100% 60% 30% 90% 10%

1Penawaran Umum


7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 992.296.333.091 0

2Penawaran Umum


TOTAL 1.000.000.000.000 7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 892.296.333.091 0

No








Umum Remaining

Fund








1 2 3 4 5 6 7 8 10 11 12 13 14

% 0,77% 100% 60% 40% 100% 60% 30% 98% 8%

1Penawaran Umum


7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 992.296.333.091 20.000.000.000

2Penawaran Umum


TOTAL 1.000.000.000.000 7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 972.296.333.091 20.000.000.000


No








Umum Remaining

Fund








1 2 3 4 5 6 7 8 10 11 12 13 14

% 0,77% 100% 60% 40% 100% 60% 36% 96% 4%

1Penawaran Umum


7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 356.918.533.236 952.296.333.091 40.000.000.000

2Penawaran Umum


TOTAL 1.000.000.000.000 7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 356.918.533.236 952.296.333.091 40.000.000.000

PER DESEMBER 2013AS OF DECEMBER 2013

No








Umum Remaining

Fund








1 2 3 4 5 6 7 8 10 11 12 13 14

% 0,77% 100% 60% 40% 100% 60% 32% 92% 8%

1Penawaran Umum


7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 321.918.533.236 917.296.333.091 75.000.000.000

2Penawaran Umum


TOTAL 1.000.000.000.000 7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 321.918.533.236 917.296.333.091 75.000.000.000

PER SEPTEMBER 2014AS OF SEPTEMBER 2014



No








Umum Remaining

Fund








1 2 3 4 5 6 7 8 10 11 12 13 14

% 0,77% 100% 60% 40% 100% 60% 36% 96% 4%

1Penawaran Umum


7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 356.918.533.236 952.296.333.091 40.000.000.000

2Penawaran Umum


TOTAL 1.000.000.000.000 7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 356.918.533.236 952.296.333.091 40.000.000.000

No








Umum Remaining

Fund








1 2 3 4 5 6 7 8 10 11 12 13 14

% 0,77% 100% 60% 40% 100% 60% 32% 92% 8%

1Penawaran Umum


7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 321.918.533.236 917.296.333.091 75.000.000.000

2Penawaran Umum


TOTAL 1.000.000.000.000 7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 321.918.533.236 917.296.333.091 75.000.000.000


No








Umum Remaining

Fund








1 2 3 4 5 6 7 8 10 11 12 13 14

% 0,77% 100% 60% 40% 100% 60% 30% 90% 10%

1Penawaran Umum


7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 892.296.333.091 10.000.000.000

2Penawaran Umum


TOTAL 1.000.000.000.000 7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 892.296.333.091 100.000.000.000


No








Umum Remaining

Fund








1 2 3 4 5 6 7 8 10 11 12 13 14

% 0,77% 100% 60% 40% 100% 60% 30% 90% 10%

1Penawaran Umum


7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 892.296.333.091 10.000.000.000

2Penawaran Umum


TOTAL 1.000.000.000.000 7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 892.296.333.091 10.000.000.000




No








Umum Remaining

Fund








1 2 3 4 5 6 7 8 10 11 12 13 14

% 0,77% 100% 60% 40% 100% 60% 30% 90% 10%

1Penawaran Umum


7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 892.296.333.091 10.000.000.000

2Penawaran Umum


TOTAL 1.000.000.000.000 7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 892.296.333.091 100.000.000.000

No








Umum Remaining

Fund








1 2 3 4 5 6 7 8 10 11 12 13 14

% 0,77% 100% 60% 40% 100% 60% 30% 90% 10%

1Penawaran Umum


7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 892.296.333.091 10.000.000.000

2Penawaran Umum


TOTAL 1.000.000.000.000 7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 296.918.533.236 892.296.333.091 10.000.000.000


No








Umum Remaining

Fund








1 2 3 4 5 6 7 8 10 11 12 13 14

% 0,77% 100% 60% 40% 100% 60% 20% 90% 10%

1Penawaran Umum


7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 193.554.084.363 788.931.884.218 203.364.448.873

2Penawaran Umum


TOTAL 1.000.000.000.000 7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 193.554.084.363 788.931.884.218 203.264.448.873


NoNama Bank

BankJenis PenempatanType of Allocation

No Seri Bilyet Serial Number Issuing

Tanggal BilyetIssuing Date

Jatuh TempoMaturity

Suku Bunga/Imbal Hasil (Ra)

Interest Rate/Return (Pa)

Mata UangCurrency

Nilai PenempatanValue of Allocation

Hubungan dengan EmitenRelationship with the issuer

1 BTPN Deposito DII 225758 28 Maret March 2014 28 Maret March 2014 10,25% Rp 20.000.000.000,- Pihak ke 3 yang tidak terafilias Non-affiliated third party

TOTAL 20.000.000.000


Penempatan Sisa Dana Hasil Penawaran UmumObligasi Dan Sukuk IjarahREMAINING FUND ALLOCATION OF BONDS AND SUKUK IJARAH PUBLIC OFFERING


No








Umum Remaining

Fund








1 2 3 4 5 6 7 8 10 11 12 13 14

% 0,77% 100% 60% 40% 100% 60% 20% 90% 10%

1Penawaran Umum


7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 193.554.084.363 788.931.884.218 203.364.448.873

2Penawaran Umum


TOTAL 1.000.000.000.000 7.703.666.909 992.296.333.091 595.377.799.855 396.918.533.236 992.296.333.091 595.377.799.855 193.554.084.363 788.931.884.218 203.264.448.873

NoNama Bank




Jatuh TempoMaturity



Mata UangCurrency



1 BTPN Deposito DII 225758 28 Maret March 2014 28 Maret March 2014 10,25% Rp 20.000.000.000,- Pihak ke 3 yang tidak terafilias Non-affiliated third party

TOTAL 20.000.000.000


NoNama Bank




Jatuh TempoMaturity



Mata UangCurrency



1 BTPN Deposito DII 223501 30 Desember December 2013 30 Desember December 2013 11,25% Rp 40.000.000.000 Pihak ke 3 yang tidak terafilias Non-affiliated third party

TOTAL 40.000.000.000


NoNama Bank




Jatuh TempoMaturity



Mata UangCurrency



1 BTPN Deposito AA 360973 30 September September 2013 30 Oktober October 2013 9,00% Rp 75.000.000.000 Pihak ke 3 yang tidak terafilias Non-affiliated third party

TOTAL 75.000.000.000


NoNama Bank




Jatuh TempoMaturity



Mata UangCurrency



1 BTPN Deposito DH 76328 27 Juni June 2013 27 July July 2013 7,50% Rp 100.000.000.000 Pihak ke 3 yang tidak terafilias Non-affiliated third party

TOTAL 100.000.000.000


NoNama Bank




Jatuh TempoMaturity



Mata UangCurrency



1 BTPN Deposito DH 76328 27 Maret March 2013 27 April April 2013 7,25% Rp 100.000.000.000 Pihak ke 3 yang tidak terafilias Non-affiliated third party

TOTAL 100.000.000.000



NoNama Bank




Jatuh TempoMaturity



Mata UangCurrency



1 BTPN Deposito DII 223501 30 Desember December 2013 30 Desember December 2013 11,25% Rp 40.000.000.000 Pihak ke 3 yang tidak terafilias Non-affiliated third party

TOTAL 40.000.000.000

NoNama Bank




Jatuh TempoMaturity



Mata UangCurrency



1 BTPN Deposito AA 360973 30 September September 2013 30 Oktober October 2013 9,00% Rp 75.000.000.000 Pihak ke 3 yang tidak terafilias Non-affiliated third party

TOTAL 75.000.000.000

NoNama Bank




Jatuh TempoMaturity



Mata UangCurrency



1 BTPN Deposito DH 76328 27 Juni June 2013 27 July July 2013 7,50% Rp 100.000.000.000 Pihak ke 3 yang tidak terafilias Non-affiliated third party

TOTAL 100.000.000.000

NoNama Bank




Jatuh TempoMaturity



Mata UangCurrency



1 BTPN Deposito DH 76328 27 Maret March 2013 27 April April 2013 7,25% Rp 100.000.000.000 Pihak ke 3 yang tidak terafilias Non-affiliated third party

TOTAL 100.000.000.000


NoNama Bank




Jatuh TempoMaturity



Mata UangCurrency



1 Permata Deposito 06822004046 30 November November 2012 30 January January 2012 7,75% Rp 100.000.000.000 Pihak ke 3 yang tidak terafilias Non-affiliated third party

2 BII Deposito 3-00000-102-00978 30 November November 2012 30 Mei May 2012 5,50% Rp 50.000.000.000 Pihak ke 3 yang tidak terafilias Non-affiliated third party


4 Permata Deposito - - - - - 6.604.448.873 Pihak ke 3 yang tidak terafilias Non-affiliated third party

TOTAL 203.364.448.873



NoNama Bank




Jatuh TempoMaturity



Mata UangCurrency



1 Permata Deposito 06822004046 30 November November 2012 30 January January 2012 7,75% Rp 100.000.000.000 Pihak ke 3 yang tidak terafilias Non-affiliated third party



4 Permata Deposito - - - - - 6.604.448.873 Pihak ke 3 yang tidak terafilias Non-affiliated third party

TOTAL 203.364.448.873


Jadwal Pembayaran Bunga Obligasi PT Sumberdaya Sewatama | Tahun 2012 - 2024SCHEDULE OF BOND INTEREST PAYMENT PT SUMBERDAYA SEWATAMA | 2012

No

Tanggal Pemnbayaran Payment Date

Jumlah yang telah dibayarkan kepada pemegang obligasi Amount Ready Paid to the bond Holders

Seri A Rp 219 milliar Series A Rp 219 billion Seri B Rp 581 milliar Series B Rp 581 billion Sukuk Ijarah

Tingkat Bunga Tetap 8,6% per tahun Flat interest Rate 8,6% per anum



1 28 February February 2013 Rp 23,56 Milliar / Rp 23.56 Billion2 30 Mei May 2013 Rp 23,56 Milliar / Rp 23.56 Billion3 30 Agustus August 2013 Rp 23,56 Milliar / Rp 23.56 Billion4 30 November November 2013 Rp 23,56 Milliar / Rp 23.56 Billion5 29 Februari February 2014 Rp 23,56 Milliar / Rp 23.56 Billion6 30 Mei Mei 2014 Rp 23,56 Milliar / Rp 23.56 Billion7 30 Agustus Agustus 2014 Rp 23,56 Milliar / Rp 23.56 Billion8 30 November November 2014 Rp 23,56 Milliar / Rp 23.56 Billion9 28 Februari February 2015 Rp 23,56 Milliar / Rp 23.56 Billion10 29 Mei May 2015 Rp 23,45 Milliar / Rp 23.45 Billion11 28 Agustus August 2015 Rp 23,45 Milliar / Rp 23.45 Billion12 27 November November 2015 Rp 23,45 Milliar / Rp 23.45 Billion13 28 February February 2016 Rp 18,7 Milliar / Rp 18.7 Billion14 29 Mei May 2016 Rp 18,7 Milliar / Rp 18.7 Billion15 28 Agustus August 2016 Rp 18,7 Milliar / Rp 18.7 Billion16 27 November November 2016 Rp 18,7 Milliar / Rp 18.7 Billion17 28 Februari Februari 2017 Rp 18,7 Milliar / Rp 18.7 Billion18 Refinancing*19 30 Juni June 2017 Rp 6,5 Milliar / Rp 6.5 Billion20 30 September September 2017 Rp 15,58 Milliar / Rp 15.58 Billion21 31 Desember December 2017 Rp 15,55 Milliar / Rp 15.55 Billion22 31 Maret March 2018 Rp 15,51 Milliar / Rp 15.51 Billion23 30 Juni June 2018 Rp 15,48 Milliar / Rp 15.48 Billion24 30 September Semptember 2018 Rp 15,44 Milliar / Rp 15.44 Billion25 31 December Desember 2018 Rp 15,41 Milliar / Rp 15.41 Billion26 31 Maret March 2019 Rp 15,38 Milliar / Rp 15.38 Billion27 30 Juni June 2019 Rp 15,34 Milliar / Rp 15.34 Billion28 30 September September 2019 Rp 15,31 Milliar / Rp 15.31 Billion29 31 December Desember 2019 Rp 15,27 Milliar / Rp 15.27 Billion30 31 Maret March 2020 Rp 15,24 Milliar / Rp 15.24 Billion31 30 Juni June 2020 Rp 17,10 Milliar / Rp 17.10 Billion32 30 September September 2020 Rp 17,06 Milliar / Rp 17.06 Billion33 31 December Desember 2020 Rp 17,02 Milliar / Rp 17.02 Billion34 31 Maret March 2021 Rp 16,98 Milliar / Rp 16.98 Billion35 30 Juni June 2021 Rp 16,94 Milliar / Rp 16.94 Billion36 30 September September 2021 Rp 16,90 Milliar / Rp 16.90 Billion37 31 December Desember 2021 Rp 16,86 Milliar / Rp 16.86 Billion38 31 Maret March 2022 Rp 16,83 Milliar / Rp 16.83 Billion39 30 Juni June 2022 Rp 16,79 Milliar / Rp 16.79 Billion40 30 September September 2022 Rp 16,75 Milliar / Rp 16.75 Billion41 31 December Desember 2022 Rp 16,71 Milliar / Rp 16.71 Billion42 31 Maret March 2023 Rp 16,67 Milliar / Rp 16.67 Billion43 30 Juni June 2023 Rp 16,63 Milliar / Rp 16.63 Billion44 30 September September 2023 Rp 16,59 Milliar / Rp 16.59 Billion45 31 December Desember 2023 Rp 16,55 Milliar / Rp 16.55 Billion46 31 Marer March 2024 Rp 742,84 Milliar / Rp 742.84 Billion

20202020 ikhtisar | ikhtisar keuangan

*Bunga dan cicilan pokok / Interest and Principal Repayment

annual report 2017

No

Tanggal Pemnbayaran Payment Date

Jumlah yang telah dibayarkan kepada pemegang obligasi Amount Ready Paid to the bond Holders

Seri A Rp 219 milliar Series A Rp 219 billion Seri B Rp 581 milliar Series B Rp 581 billion Sukuk Ijarah




1 28 February February 2013 Rp 23,56 Milliar / Rp 23.56 Billion2 30 Mei May 2013 Rp 23,56 Milliar / Rp 23.56 Billion3 30 Agustus August 2013 Rp 23,56 Milliar / Rp 23.56 Billion4 30 November November 2013 Rp 23,56 Milliar / Rp 23.56 Billion5 29 Februari February 2014 Rp 23,56 Milliar / Rp 23.56 Billion6 30 Mei Mei 2014 Rp 23,56 Milliar / Rp 23.56 Billion7 30 Agustus Agustus 2014 Rp 23,56 Milliar / Rp 23.56 Billion8 30 November November 2014 Rp 23,56 Milliar / Rp 23.56 Billion9 28 Februari February 2015 Rp 23,56 Milliar / Rp 23.56 Billion

10 29 Mei May 2015 Rp 23,45 Milliar / Rp 23.45 Billion11 28 Agustus August 2015 Rp 23,45 Milliar / Rp 23.45 Billion12 27 November November 2015 Rp 23,45 Milliar / Rp 23.45 Billion13 28 February February 2016 Rp 18,7 Milliar / Rp 18.7 Billion14 29 Mei May 2016 Rp 18,7 Milliar / Rp 18.7 Billion15 28 Agustus August 2016 Rp 18,7 Milliar / Rp 18.7 Billion16 27 November November 2016 Rp 18,7 Milliar / Rp 18.7 Billion17 28 Februari Februari 2017 Rp 18,7 Milliar / Rp 18.7 Billion18 Refinancing*19 30 Juni June 2017 Rp 6,5 Milliar / Rp 6.5 Billion20 30 September September 2017 Rp 15,58 Milliar / Rp 15.58 Billion21 31 Desember December 2017 Rp 15,55 Milliar / Rp 15.55 Billion22 31 Maret March 2018 Rp 15,51 Milliar / Rp 15.51 Billion23 30 Juni June 2018 Rp 15,48 Milliar / Rp 15.48 Billion24 30 September Semptember 2018 Rp 15,44 Milliar / Rp 15.44 Billion25 31 December Desember 2018 Rp 15,41 Milliar / Rp 15.41 Billion26 31 Maret March 2019 Rp 15,38 Milliar / Rp 15.38 Billion27 30 Juni June 2019 Rp 15,34 Milliar / Rp 15.34 Billion28 30 September September 2019 Rp 15,31 Milliar / Rp 15.31 Billion29 31 December Desember 2019 Rp 15,27 Milliar / Rp 15.27 Billion30 31 Maret March 2020 Rp 15,24 Milliar / Rp 15.24 Billion31 30 Juni June 2020 Rp 17,10 Milliar / Rp 17.10 Billion32 30 September September 2020 Rp 17,06 Milliar / Rp 17.06 Billion33 31 December Desember 2020 Rp 17,02 Milliar / Rp 17.02 Billion34 31 Maret March 2021 Rp 16,98 Milliar / Rp 16.98 Billion35 30 Juni June 2021 Rp 16,94 Milliar / Rp 16.94 Billion36 30 September September 2021 Rp 16,90 Milliar / Rp 16.90 Billion37 31 December Desember 2021 Rp 16,86 Milliar / Rp 16.86 Billion38 31 Maret March 2022 Rp 16,83 Milliar / Rp 16.83 Billion39 30 Juni June 2022 Rp 16,79 Milliar / Rp 16.79 Billion40 30 September September 2022 Rp 16,75 Milliar / Rp 16.75 Billion41 31 December Desember 2022 Rp 16,71 Milliar / Rp 16.71 Billion42 31 Maret March 2023 Rp 16,67 Milliar / Rp 16.67 Billion43 30 Juni June 2023 Rp 16,63 Milliar / Rp 16.63 Billion44 30 September September 2023 Rp 16,59 Milliar / Rp 16.59 Billion45 31 December Desember 2023 Rp 16,55 Milliar / Rp 16.55 Billion46 31 Marer March 2024 Rp 742,84 Milliar / Rp 742.84 Billion

2121212121highlights | financial highlights

laporan tahunan 201722 ikhtisar | peristiwa penting tahun 2017

Peristiwa Penting 2017

SIGNIFICANT EVENT 2017

Meraih peringkat ke-2 lomba Poster “Zero Fatalitiy, Kita Bisa” di bulan K3 nasional dari PT Pertamina Participated in the Poster Competition “Zero Fatality, We Can” post in the national K3 month of PT Pertamina. Sewatama reached 2nd rank.

27 FebruariFEBRUARY Sewatama sebagai perusahaan ketenagalistrikan nasional yang didirikan pada tahun 1992, memasuki usia 25 tahun. Dirayakan dengan menggelar lomba antar departemen di Sewatama dan juga syukuran hingga ke penjuru site.

Celebration of 25th Sewatama Anniversary by organizing inter-departmental competitions and thanksgiving event to the entire sites.

27 MaretMARCH

8 MeiMAY Pada Rapat Umum Pemegang Saham tahunan Sewatama, para pemegang saham (shareholder) menyepakati untuk menetapkan kembali Bapak Yovie Priadi sebagai Direktur Utama PT Sumberdaya Sewatama, sementara Bapak Ferry A. Sunandar, sebagai Direktur sekaligus Chief Financial Officer.

Arrangement of the Sewatama Annual General Meeting of Shareholders of which the decision was the reappointment of Mr. Yovie Priadi as President Director of PT Sumberdaya Sewatama, and Mr. Ferry A. Sunandar, as Director and Chief Financial Officer.

Mencapai kesepakatan dengan para pemegang obligasi untuk merestrukturisasi obligasi Serie B Sumberdaya Sewatama I Tahun 2012 dan Sukuk Ijarah.

Achieving an agreement with bondholders to restructure Sumberdaya Sewatama I bonds of Serie B 2012 and Sukuk Ijarah.

19 JuniJUNE

Sewatama meraih predikat Proper Biru dari Kementerian Lingkungan Hidup dan Kehutanan untuk pengelolaan limbah Pembangkit Listrik Tenaga Gas di Muara Enim yang dikelola divisi Operation & Maintenance Sewatama.

Sewatama achieved the Blue Proper rating from the Ministry of Environment and Forestry for waste management of Gas Power Plant in Muara Enim which was managed by Operation & Maintenance of Sewatama.

1 JuliJULY

annual report 2017 23highlights | significant events 2017

Penandatanganan kerjasama pengembangan listrik tenaga hybrid dengan InfraCo Asia dan PowerSource, perusahaan investasi bidang infrastruktur dan energi yang beroperasi di kawasan Asia.

The signing of a hybrid power plant development agreement with InfraCo Asia and PowerSource, an energy and infrastructure investment company operating in Asia.

12 DesemberDECEMBER

Pernyataan keputusan para pemegang saham dengan akta no.17. AHU-AH.01.03-0200301 tanggal 13 Desember 2017. Perubahan Direksi dan Komisaris serta menetapkan:Menerima dan menyetujui pengunduran diri Komisaris Independen Bapak Todung Mulya Lubis. Terhitung sejak keputusan para pemegang saham yaitu tanggal 7 Desember 2017. Selain itu, menetapkan:Dewan Komisaris Perseroan1. Achmad Ananda Djajanegara sebagai komisaris utama2. Adrian Erlangga sebagai komisaris

Statement of shareholders’ decision by Deed no.17. AHU-AH.01.03-0200301 dated December 13, 2017 that amended the Board of Directors and Commissioners composition, and stipulated:Accepted and approved the resignation of Independent Commissioner Mr. Todung Mulya Lubis as of the date of the shareholders’ decision dated December 7, 2017.

In addition, stipulated: The Company’s Board of Commissioners 1. Achmad Ananda Djajanegara as the President Commissioner2. Adrian Erlangga as Commissioner

13 DesemberDECEMBER

Direksi Sewatama mengalami perubahan berdasarkan surat edaran PT ABM Investama (“ABM”) dengan nomor 035/IOM/ADJ/XII/2017 tertanggal 22 Desember 2017 dan surat edaran Perseroan dengan nomor 01/IOM/PDIR-SS/I/2018.Menetapkan: Direktur & CEO: Ferry Arief SunandarChief Sales & Operation Officer – Power Solutions : Hendrik ZulkarnaenChief Operation Officer – Power Plant : Mustofa Kamal ZulkarnainChief Administration Officer : Mustofa Kamal Zulkarnain, Susunan pengurus ini berlaku mulai 01 Januari 2018.

The amendment of Sewatama Directors’ composition based on PT ABM Investama circular letter (“ABM”) No. 035 / IOM / ADJ / XII / 2017 dated December 22, 2017 and the Company Circular letter No. 01 / IOM / PDIR-SS / I / 2018 number. Stipulated:Director & CEO: Ferry Arief SunandarChief Sales & Operation Officer - Power Solutions: Hendrik ZulkarnaenChief Operation Officer - Power Plant: Mustofa Kamal ZulkarnaenChief Administration Officer: Mustofa Kamal ZulkarnaenThe organizational structure is valid from 01 January 2018.

22 DesemberDECEMBER

laporan tahunan 201724 ikhtisar | laporan dewan komisaris

Laporan Dewan KomisarisREPORT FROM THE BOARD OF COMMISSIONERS

Achmad Ananda DjajanegaraKomisaris Utama / President Comissioner

Dewan komisaris mendorong Direksi untuk senantiasa meningkatkan operational excellence di setiap lini dan detail kegiatan Sewatama guna menjadi pemimpin di bisnis ketenagalistrikan di masa mendatang.

We encourage the Board of Directors to continuously enhance operational excellence in every line as well as operation to be the leader of electricity business in the coming years.

annual report 2017

annual report 2017 25highlights | report from board of commissionerannual report 2017 annual report 2017

laporan tahunan 201726 ikhtisar | laporan dewan komisaris

Pemegang saham yang terhormat

etelah menyentuh titik terendah pada tahun 2016, ekonomi global mulai menunjukkan tanda-tanda kebangkitannya di tahun 2017. Pertumbuhannya mengalami peningkatan yakni sebesar 3,6%, lebih

tinggi dari capaian sebelumnya 3,2%. Walau sumber pertumbuhannya kini lebih merata, tidak melulu didominasi oleh negara-negara besar seperti Amerika Serikat dan Tiongkok, namun tidak dapat dipungkiri bahwa kedua negara tersebut masih merupakan motor penggerak ekonomi dunia.

Amerika Serikat, walau mengalami kekisruhan politik, ekonominya mengalami perbaikan berkat membaiknya kondisi tenaga kerja dan investasi. Tiongkok mampu mengimplementasikan program rebalancing ekonomi secara bertahap, yang memfokuskan pertumbuhan pada permintaan domestik sehingga ekonominya tumbuh sebesar 6,8%.

Kinerja ekonomi kedua negara tersebut membawa pengaruh pada perbaikan pertumbuhan ekonomi global termasuk Indonesia. Untuk pertama kalinya Produk domestik bruto (PDB) Indonesia 2017 mencapai 1.004 triliun dolar Amerika, sementara pertumbuhan ekonomi mencapai 5,05% yang didorong oleh stabilitas pertumbuh konsumsi dalam negeri, peningkatan investasi dan ekspor. Tingkat inflasi rendah, daya beli masyarakat terjaga, suku bunga Surat Perbendaharaan Negara (SPN) menurun, nilai tukar rupiah mendekati besaran asumsi APBNP Tahun 2017. Pencapaian ini melanjutkan mementum perbaikan yang telah dimulai sejak 2 tahun lalu.

Kenaikan harga batu bara dan minyak menyusul membaiknya perekonomian global sedikitnya memiliki dampak positif terhadap pertumbuhan penerimaan PPh Migas dan Penerimaan Negara Bukan Pajak (PNBP). Namun di lain pihak hal itu juga berdampak terhadap besaran subsidi energi.

Dear Honorable Share Holders.

The Global economic was beginning to show positive signs of increment in 2017, after hitting the lowest point in 2016. The growth increased 3.6%, higher than previous achievement of 3.2%. Even though the source of growth was more evenly distributed, not only dominated by economic superpowers like the US and China; we need to admit that both countries were still the major driver to influence the world economy.

Despite experiencing political turmoil, The United States economy continues to progress by dint of the improved conditions of labor and investment.China was able to gradually implement economy rebalancing program that focused on the growth of domestic demand, subsequently its economy grew of 6.8%.

Economic performances of the two countries influenced the improvement of global economic growth, including Indonesia. For the first time, Indonesia’s Gross Domestic Product (GDP) in 2017 reach US $ 1.004 billion, meanwhile the economic growth reach 5.05% driven by growth in domestic consumption, increased investment and exports.Low inflation rate, maintained consumer purchasing power, decreased interest rates of SPN (Letter of the State Treasury), the rupiah exchange rate approached the assumption of APBNP (Revised State Budget) 2017. These achievements continued to be a momentum of improvement that has started 2 years ago.

Rising coal and oil prices following the improvement of global economy had a positive impact on Oil & Tax Income Tax Growth and non-tax revenue (PNBP). However, it does create an unfavorable impact on the amount of energy being subsidized.

S

annual report 2017 27highlights | report from board of commissioner

Walau demikian, kami memandang tahun 2017 merupakan tahun yang penuh tantangan bagi Sewatama. Secara global dan nasional, ekonomi makro mengalami perbaikan namun hal itu belum mencerminkan kondisi industri ketenagalistrikan di tanah air. Tantangan berat masih harus dihadapi Perseroan terkait perubahan kebijakan dari pelanggan utama yang berdampak pada menurunnya permintaan pasokan listrik terhadap Sewatama.

A. OPERASISebagai dampak dari perubahan kebijakan PT Perusahaan Listrik Negara (Persero) sebagai pelanggan utama Sewatama yang mengurangi pemakaian pembangkit listrik tenaga diesel, permintaan terhadap penyewaan genset Sewatama terus menurun. Mengingat lini bisnis Power Rental yang menangani bisnis penyewaan genset berkontribusi mayoritas terhadap pendapatan Perseroan, kondisi ini semakin menekan kinerja Sewatama.

Untuk menghadapi kondisi itu, Komisaris melihat Direksi sudah melaksanakan arahan Komisaris agar senantiasa memperkuat dan mengembangkan lini bisnis ketenagalistrikan lain yang berbasis layanan seperti Operatian & Maintenance (O&M), Power Audit dan pembangkit listrik yang berasal dari energi baru terbarukan (EBT) seperti panel surya dan hybrid, di samping mencari sumber-sumber energi lain yang ramah lingkungan yaitu mini hidro.

Selain daripada itu, langkah-langkah Direksi untuk menata ulang jajarannya serta melakukan efisiensi di setiap lini bisnis dinilai sudah tepat. Sewatama telah menata ulang posisi Sumber Daya manusia (SDM) di segenap jajarannya, dan menyusunnya sesuai perubahan situasi pasar yang dinamis. Di samping itu melalui kerja sama dengan para pemegang obligasi dan juga perbankan, Perseroan telah bersama-sama sepakat untuk melakukan refinancing dan penjadwalan kembali pembayaran hutang yang disesuaikan dengan kondisi pasar demi mengkonsolidasikan kinerja keuangan Sewatama.

Hence, we perceive 2017 as a challenging year for Sewatama. Globally and nationally, macro economy has experiencing improvement, yet it did not reflect on the electrification industry’s condition in the country. The Company continues to face big challenges related to many changes on the main customer’s policies that affected and contributed to the decline of demand for power supplies of Sewatama. A. OPERATIONAs an impact of policy changes in PLN (State-Owned Electricity Company), as sole customer of Sewatama to reduce usage of its diesel based power plant, the demand of generator rental of Sewatama is also decreasing. Considering that Power Rental section has given a major contribution for Sewatama’s revenue, this condition creates pressure to the overall Sewatama performance.

To overcome such condition, The Board of Commissioners appreciated the Board of Directors action to strengthen and developed other service-based electrification business lines, such as Operation and Maintenance (O&M), Power Audit, and renewable Energy like solar panel and hybrid, besides searching for energy sources that environmental-friendly, namely mini-hydro.

Other than that, The Board of Directors action to re-arrange their staffs and carried out efficiency in all business lines were appropriately conducted.Sewatama has re-structured of its human resources and composed it in accordance to the changes of the dynamic market situation.Besides, through cooperation with bond holders and banking, the Company agreed to refinancing and rescheduling the debt payment and adjusted to the market condition in order to consolidate the financial performance of Sewatama.


B. KEUANGANDewan Komisaris menghargai segenap upaya Direksi untuk menekan biaya operasional sekaligus memanfaatkan setiap peluang untuk meningkatkan pendapatan. Alhasil Sewatama mampu menghemat pengeluaran sekitar 35% sehingga di sepanjang tahun 2017 sehingga Sewatama memperoleh pendapatan sebesar Rp 996,402 miliar, sementara EBITDA mencapai Rp 339,295 miliar. C. SUMBER DAYA MANUSIADi sektor Sumber Daya Manusia (SDM), Direksi melakukan lebih dari sekedar efisiensi. Direksi telah menata ulang (redeployment) seluruh jajaran manajemen dan karyawan sesuai dengan perubahan pasar kebutuhan industri ketenagalistrikan. Sehingga masing-masing fungsi dapat menjalankan perannya secara optimal. Sementara upaya untuk meningkatkan kapasitas SDM tetap dilakukan melalui sejumlah pelatihan dan pembinaan yang diadakan rutin secara berkesinambungan.

Prospek Usaha

Atas rencana Pemerintah yang tetap meneruskan proyek 35.000 MW, Komisaris setuju terhadap pandangan Direksi bahwa prospek bisnis industri ketenagalistrikan masih cukup menjanjikan di masa mendatang sehingga upaya-upaya yang strategis dan kreatif perlu dikedepankan guna mendapatkan peluang baru di setiap lini bisnis, termasuk lini Power Rental.

Mengantisipasi situasi bisnis ketenagalistrikan di masa depan, Komisaris senantiasa mengingatkan Direksi agar secara konsisten mengembangkan lini bisnis di luar Power Rental, yakni O&M, bisnis kelistrikan berbasis pelayanan (service base) seperti commisioning, power audit dan servis lainnya, serta mengembangkan Power Rental diluar Non-Utility.

ikhtisar | laporan dewan komisaris

B. FINANCEThe Board of Commissioners appreciates Directors’ efforts to reduce operational costs as well as to utilize every opportunity to increase revenue. As a result, Sewatama was able to save expenses about 35% subsequently, during 2017 Sewatama obtained revenue of Rp 996.402 billion, meanwhile EBITDA reached Rp 339.295 billion.

C. HUMAN RESOURCESIn the Human Resources sector, The Board of Directors has conducted more than efficiency. The Board of Directors have redeployed all management and employees in accordance to the changes of electrification industry needs. Therefore, each could perform its role and function optimally. Meanwhile the efforts to increase the capacity of human resources continued through several training and coaching organized regularly and continuously.

THE VIEW ON THE BUSINESS PROSPECTS SET BY DIRECTORS

In view of the government’s plan to continue 35.000 MW project, The Board of Commissioners agreed with The Board of Directors that electrification industry business prospect is still promising, hence a strategic and creative efforts to get new opportunity in each business line, including Power Rental, is still required to be prioritized. To anticipate electrification business in the future, the Board of Commissioners constantly reminds The Board Directors to consistently developing business lines beyond Power Rental, namely O&M, service-based electrification business such as commissioning, power audit and other services, as well as develop Power rental outside of Non-Utility.

annual report 2017 29

Terkait tantangan yang semakin berat, Komisaris mendorong Direksi untuk selalu antisipatif, responsif dan kreatif menciptakan terobosan demi memperkuat industri ketenagalistrikan yang modern dan ramah lingkungan.

Penerapan Tata Kelola Perusahaan

A. HASIL PENILAIAN GCGDalam upaya meningkatkan kualitas pelaksanaan Tata Kelola Perusahaan yang Baik (Good Corporate Governance/GCG), setiap tahun Sewatama melakukan pengukuran atas penerapan GCG. Untuk tahun 2017 Sewatama memperoleh nilai 92% dari total nilai maksimal 100% (127,5 poin dari total 139 poin maksimal). Berdasarkan evaluasi pengukuran tersebut, hasil rekomendasi akan ditindaklanjuti demi meningkatkan kualitas pelaksanaan pengelolaan dan pengawasan Perusahaan.

Ada 6 indikator yang digunakan dalam melakukan penilaian terhadap penerapan GCG. Indikator-indikator tersebut adalah Komitmen terhadap penerapan GCG yang berkelanjutan ;Penerapan GCG bagi Pemegang Saham; Penerapan GCG oleh Dewan Komisaris; Penerapan GCG oleh Direksi; Pengungkapan dan keterbukaan informasi serta Faktor lainnya. Dewan Komisaris memastikan bahwa prinsip-prinsip GCG telah diterapkan di perusahaan.

Salah satu prinsip GCG yang patut dikedepankan adalah transparansi dan kewajaran di setiap kegiatan usaha, yang penjabarannya antara lain dengan menerapkan mekanisme pelaporan pelanggaran terhadap kode etik maupun kebijakan Perusahaan atau Whistle Blowing System (WBS).

highlights | report from board of commissioner

Related to this heavy challenges, The Board of Commissioners encourages The Board of Directors to always be anticipative, responsive and creative in creating breakthrough innovations to strengthen a modern and environmental friendly electrification industry.

IMPLEMENTATION OF GCG

A.ASSESSMENT RESULTS OF GCGTo improve the quality of GCG (Good Corporate Governance) implementation, every year Sewatama takes measurement for GCG implementation. For 2017 the total value obtained by Sewatama is 92% out of total 100% maximum value (127.5 points out of total of 139 maximum points).

Based on the evaluation of the measurement then recommendation will be followed up to improve the quality of management and supervision of the company.

There were 6 indicators applied to assess the Company’s GCG implementation. The indicators were the Company’s commitment to a sustainable implementation of GCG; GCG implementation for Shareholders, GCG implementation by the Board of Commissioners; GCG implementation by Directors, Disclosure and Information transparencies and also other factors. The Board of Commissioners ensures that GCG principles have been implemented in the company.

One principle of GCG that should be prioritized is transparency and fairness in every business activity that described, among others, implementation of violation reporting mechanism against ethics as well as company policy or so called Whistle Blowing System.


B. KPI DEWAN KOMISARISSejalan dengan komitmen terhadap penerapan GCG, Dewan Komisaris menetapkan Key Performance Indicator (KPI) Dewan Komisaris dengan membagi tugas pemantauan ke dalam 3 sektor: Perkembangan Bisnis dan Perencanaan Strategis (Business Development and Strategic Planning); Komersial dan Manajemen Riesiko; serta pemantauan dari sisi Legal & GCG.

Komite-komite di bawah pengawasan Dewan Komisaris, yakni Komite Audit dan Komite Investasi dan Divestasi dinilai telah menjalankan tanggungjawabnya kepada Dewan Komisaris dengan melakukan tindakan pengawasan serta memberikan masukan melalui berbagai rapat berkala dengan baik dengan jajaran Direksi maupun dengan beberapa kepala departemen di Perusahaan serta melalui sejumlah rapat komite. Tanggungjawab kedua komite tersebut diwujudkan melalui kunjungan ke lokasi pembangkit bersama Dewan Komisaris untuk mengawasi pengelolaan Manajemen dan memastikan telah selaras dengan prinsip-prinsip GCG, selain mengkaji efektifitas layanan terhadap pelanggan. Dalam penilaian kami, prinsip-prinsip GCG telah diterapkan dengan baik di setiap pengelolaan pembangkit maupun proyek-proyek yang dijalankan sehingga kami yakin Sewatama dapat senantiasa tumbuh secara berkelanjutan.

30 ikhtisar | laporan dewan komisaris

B. KPI OF THE BOARD OF COMMISSIONERSIn line with the commitment to the implementation of GCG, the Board of Commissioners set the Key Performance Indicator (KPI) of the Board of Commissioners by dividing the monitoring task into 3 sectors: Business Development and Strategic Planning; Commercial and Risk Management; monitoring from the legal side and GCG.

Committees under the Board of Commissioners’ supervisory are: Audit Committee and Investment & Divestment Committee, are considered to have carried out their responsibility to the Board of Commissioners with supervisory actions and provide inputs through regular meeting with Directors as well as the Head of departments in the Company, also through the committee meetings. Second responsibility of the committee is realized by visiting the plants location with the Board of Commissioners to supervise management and to ensure that it is in line with GCG principles, besides reviewing the effectiveness of customer services.

In our assessment, GCG principles have been well implemented in every plant management as well as projects conducted thus we believe Sewatama will continuously growing.

annual report 2017

ACHMAD ANANDA DJAJANEGARAKOMISARIS UTAMA

PRESIDENT COMMISSIONER

COMPOSITION OF THE BOARD OF COMMISSIONERS

Composition of the Board of Commissioners since its establishment on the General Meeting of Shareholders on 8th of May 2017 to 31st of December 2017 is as follows:

President Commissioner : Achmad Ananda DjajanegaraCommissioner : Adrian ErlanggaIndependent Commissioner : Todung Mulya Lubis (also as Head of Audit Committee).

However, on 1st of December 2017 Todung Mulya Lubis has resigned as Independent Commissioner as well as the Head of Audit Committee to pursue his state duty calling to become Indonesia Ambassador for Norway.

Hence, through a Circular Extraordinary General Meeting of Shareholders, stated in the Deed no.17 dated 5th of January 2018, composition of the Board of Commissioners are as follows:

President Commissioner : Achmad Ananda DjajanegaraCommissioner : Adrian Erlangga CLOSING

On behalf of the Board of Commissioners we appreciate for the efforts presented by Directors in order to maintain and improve the Company’s growth, including maintain hope and spirit of Sewatama staffs to hand in hand in improving the performance of the Company.To all stakeholders, we thank you and honor for supports and trust to Sewatama.

We believe in the future Sewatama will be able to provide contribution to the electrification industry in Indonesia as well as support Indonesia development programs in general.

highlights | report from board of commissioner

Susunan Dewan Komisaris

Susunan Dewan Komisaris sejak penetapan di dalam RUPS tanggal 8 Mei 2017 hingga 31 Desember 2017 adalah sebagai berikut:

KOMISARIS UTAMA : Achmad Ananda DjajanegaraKOMISARIS : Adrian ErlanggaKOMISARIS INDEPENDEN : Todung Mulya Lubis (merangkap Ketua Komite Audit).

Namun pada 1 Desember 2017 Todung Mulya Lubis mengundurkan diri sebagai anggota Komisaris Independen dan juga ketua komite audit dikarenakan beliau melaksanakan panggilan tugas negara menjadi Duta Besar Indonesia untuk Norwegia.

Sehingga melalui keputusan RUPSLB sirkuler yang tertuang pada Akta No.17 Tanggal 05 Januari 2018, susunan Komisaris Sewatama, adalah sebagai berikut:

KOMISARIS UTAMA : Achmad Ananda DjajanegaraKOMISARIS : Adrian Erlangga Penutup

Atas nama Dewan Komisaris kami memberikan apresiasi atas segenap upaya yang telah ditunjukkan Direksi dalam rangka mempertahankan serta meningkatkan pertumbuhan Perusahaan, termasuk menjaga asa dan semangat segenap jajaran Sewatama untuk saling bahu-membahu dalam meningkatkan kinerja perusahaan. Kepada segenap pemangku kepentingan tak lupa kami ucapkan terimakasih dan hormat kami atas dukungan dan kepercayaan terhadap Sewatama.

Kami percaya Sewatama di masa mendatang mampu memberikan kontribusi terhadap dunia kelistrikan Indonesia di masa mendatang.

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ACHMAD ANANDA DJAJANEGARAKomisaris UtamaPresident Commissioner

ADRIAN ERLANGGAKomisarisCommissioner

Dewan KomisarisBoard of Commissioners

annual report 2017

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FERRY ARIEF SUNANDARDirector & Chief Executive Officer

MUSTOFA KAMAL ZChief Operation Officer &Chief Administration Officer

HENDRIK ZULKARNAENChief Sales & Operation Officer

Direksi & Pejabat EksekutifDirector & Executive Officers

laporan tahunan 201734 ikhtisar | laporan dewan direksi

Laporan DireksiSewatamaBOARD OF DIRECTOR’S REPORT

Ferry Arief SunandarDirector & CEO

Kondisi yang menantang di tahun 2017 tidak menyurutkan semangat Sewatama untuk mengerahkan daya juang dan kemampuan kreatifnya dalam wujudkan operational excellent di setiap detail demi menjadi pemenang di bisnis ketenagalistrikan di masa mendatang.

Despite the challenges of 2017 did not shrink Sewatama to unleash its strength and creativity to deliver operational excellence that applies to every level and each person to become the winner in the electricity business in coming years.

annual report 2017

annual report 2017 35highlights | report from board of directorannual report 2017 annual report 2017


Pemegang saham yang terhormat

epanjang tahun 2017 daya tahan Sewatama diuji dengan kondisi eksternal Perseroan yang penuh tantangan. Sepanjang tahun yang penuh tantangan ini, Sewatama senantiasa berupaya mencari solusi

yang kreatif dalam menghadapi sejumlah kendala demi mencapai target dan tujuan yang telah ditentukan. Alhasil di akhir 2017 Sewatama masih bisa memperoleh pendapatan sebesar Rp996,4 miliar, walau jumlah itu turun 21% dibandingkan tahun 2016 yakni Rp1,265 triliun. Sedangkan kerugian berkurang sebesar 43% menjadi Rp 187,86 miliar. Situasi bisnis pembangkit listrik nasional

Walau pertumbuhan ekonomi makro Indonesia yang didorong oleh pertumbuhan ekonomi global mengalami perbaikan (5,05%) dibandingkan tahun lalu, hal itu tidak langsung dapat mencerminkan kondisi bisnis ketenagalistrikan nasional. Adanya tekanan eksternal seperti berubahnya regulasi pada industri ketenagalistrikan mempengaruhi permintaan akan penyediaan Power Rental.

Menghadapi situasi seperti ini Sewatama melakukan sejumlah terobosan untuk menyeimbangkan portofolio pendapatan Perusahaan.

Kendala yang dihadapi dan Strategi Menghadapi Tantangan

Situasi tersebut jelas berdampak secara signifikan terhadap pemasukan Sewatama dari berbagai lini bisnis, terutama pada lini bisnis Power Rental sebagai kontributor terbesar pendapatan Sewatama. Situasi seperti ini sebenarnya sudah diantisipasi sejak beberapa tahun belakangan. Oleh sebab itu Sewatama sudah menyiapkan lini bisnis lain yang dapat menopang kinerja Perseroan.

Dear Honorable Shareholders

During 2017 the toughness of Sewatama was tested by the external condition of the company which was very challenging. And, during the challenging year, Sewatama kept trying to find creative solution in facing obstacles in order to reach the goals and objectives that have been determined. Consequently, at the end of 2017 Sewatama was able to earn an income of Rp996.4 billion, even though the amount was 21% down compared to 2016 of Rp.1.265 trillion. Meanwhile, the net loss decreased by 43% amounting to Rp 187.86 billion.

BUSINESS SITUATION OF NATIONAL ELECTRIFICATION

Even though the growth of Indonesia’s macro-economic driven by global economic growth has improved (5.05%) compared to the previous year, it did not directly reflect the national electrification business condition. Due to external pressures such as changes in regulations of electrification affected Power Rental demand.

Dealing with such situation, Sewatama made a number of breakthroughs to offset the Company’s revenue portfolio.

OBSTACLES FACED AND STRATEGIES TO OVERCOME THE CHALLENGES

Such situation clearly had a significant impact to the income of Sewatama from various business lines, especially from Power Rental as Sewatama’s largest income contributor. This situation actually has been anticipated in recent years. Therefore, Sewatama has prepared other business lines that could support the Company’s performance.

S

annual report 2017 37highlights | report from board of director

Kini, Sewatama selain bertumpu pada lini bisnis Power Rental, juga mengembangkan sejumlah bisnis dalam industri ketenagalistrikan yang berbasiskan layanan (service base).

Adanya pembangunan pembangkit listrik oleh pemerintah untuk meningkatkan rasio elektrifikasi nasional, membuka kesempatan lebih besar bagi lini bisnis Operation & Maintenance (O&M).

Terbukti, sejak bisnis ini dikembangkan Sewatama, sejumlah proyek-proyek di Indonesia untuk perawatan dan pengoperasian pembangkit listrik sudah dilakukan oleh Sewatama. Pengalaman lebih dari 25 tahun yang dimiliki Sewatama merupakan modal penting untuk meningkatkan kepercayaan konsumen.

Sewatama menangani sejumlah pembangkit-pembangkit tenaga listrik berbagai macam jenis, termasuk pembangkit listrik tenaga mesin gas , turbin dan diesel. Sewatama juga mengoperasikan dan melakukan perawatan genset-genset hingga pelosok tanah air.

Sebagai salahsatu perusahaan nasional yang lama berkecimpung di industri ketenagalistrikan nasional, Sewatama memiliki reputasi baik sehingga menjadi jaminan bagi pelanggan yang membutuhkan layanan kelistrikan cepat, handal dan mampu menjangkau lokasi terpencil di seluruh Indonesia. Faktor geografis Indonesia yang terpencar-pencar hingga sulit dijangkau, peluang yang baik bagi perusahaan.

Analisis Kinerja PerseroanA. KINERJA OPERASI DAN KEUANGAN

Membaiknya situasi perekonomian makro Indonesia di tahun 2017 tidak serta merta membawa perubahan positif bagi industri ketenagalistrikan nasional. Kebijakan bisnis kelistrikan di Indonesia yang mengalami perubahan oleh regulator, menekan pendapatan Sewatama pada lini bisnis Power Rental.

Presently, other than resting on Power Rental business line, Sewatama is correspondingly developing several service-based businesses in electrification industry.

The fact that the Government builds power plants to increase national electrification ratio will open bigger opportunities in Operation & Maintenance (O&M) business line.

It’s been proven that a number of operation and maintenance power plants projects in Indonesia have been conducted by Sewatama, following the development of this business by Sewatama. Owing to its more than 25 year experiences, Sewatama has an important asset to improve consumers’ confidence.

As a result, Sewatama handles various types of power plants involving gas, turbine and diesel power plants. Sewatama is also conducting operation and maintain of generators throughout the country that placed out of network coverage.

Playing as long-established company engaging in the national electricity industry, Sewatama has a good reputation for customers who need fast, reliable and capable of reaching remote locations throughout Indonesia. The fact that Indonesia’s geographical locations are scattered means a good opportunity for the Company.

THE COMPANY PERFORMANCE ANALYSIS A. PERFORMANCE OF OPERATIONAL AND FINANCE

The improvement in 2017 Indonesia’s macro-economy has not automatically brought positive changes to the national electrification industry. The change in Indonesia’s electrification business policies by regulators pressed the Sewatama revenue of Power Rental business line.


Strategi Sewatama untuk mengatasi makin berkurangnya pendapatan dari lini bisnis Power Rental adalah dengan meningkatkan efisiensi dan melakukan sistem operasi yang terbaik (operational excellence) di semua lini, sekaligus melakukan diversifikasi pelanggan dan produk.

Langkah ke dalam, yang dilakukan manajemen Sewatama selain melakukan efisiensi berbagai bidang, juga mengoptimalkan sinergi dengan perusahaan-perusahaan dalam grup Tiara Marga Trakindo. Hal ini dilakukan sebagai upaya untuk terus meningkatkan kinerja Sewatama yang berdampak positif pada performa keuangan. Selain itu Sewatama menata ulang dan meningkatkan kompetensi segenap jajaran karyawan sesuai dengan kondisi pangsa pasar yang dinamis.

Berkat segenap upaya-upaya tersebut, kinerja keuangan Sewatama di penghujung tahun 2017 menghasilkan EBITDA sebesar Rp 339,295 miliar, tumbuh sebesar 13%, walaupun revenue turun sebesar 21%.

Upaya tersebut membuat Sewatama pada pertengahan tahun 2017 berhasil mendapatkan kepercayaan dari pihak pemberi pinjaman dan pemegang obligasi untuk menjadwalkan kembali kewajiban pembayaran sampai dengan tahun 2022 dengan opsi sampai dengan tahun 2024.

Sewatama dalam setiap pengambilan keputusan, prinsip kehati-hatian dan transparansi tetap dikedepankan. Direksi berpegang pada target yang telah ditetapkan dan yang telah disetujui oleh Dewan Komisaris. Pelaksanaannya pun dilakukan menurut arahan dan pengawasan oleh Dewan Komisaris. Termasuk mengkaji gagasan terobosan yang mungkin dilakukan demi keberlanjutan Sewatama. Kami yakin pemulihan Sewatama dapat berlangsung sesuai dengan rencana yang sudah disusun.

Sewatama’s strategy to handle the decrease of revenue from Power Rental was improving efficiency as well as performing the best operating system (operational excellence) in entire lines, while also diversifying customers and products.

Internally, in addition to efficiency in all areas, Sewatama Management optimized synergy with companies of Tiara Marga Trakindo Group. These were carried out to improve Sewatama’s performance that positively impacted to financial performance. Furthermore, Sewatama re-arranged and improved employees’ competency in line with the dynamic market share condition.

Due to all of these efforts, Sewatama’s financial performance at the end of 2017 generated EBITDA of Rp 339,295 billion, a 13% growth, despite the revenue decrease of 21%.

As a result of Sewatama’s strategy, in the midst of 2017 Sewatama lenders and bond holders had confidence in Sewatama’s performance so as to re-extend the maturity date up to 2022 with options up to 2024.

In any decision-making, the principle of prudence and transparency remains prioritized. Directors hold on the target set which was approved by the Board of Commissioners. The implementation is conducted according to the direction and under supervision of the Board of Commissioners, including examine the ideas of breakthrough for the sustainability of Sewatama. We believe Sewatama recovery can take place in accordance with the plans that has been prepared.

annual report 2017 39highlights | report from board of director

B. KINERJA PENGELOLAAN SUMBER DAYA MANUSIA

Menghadapi situasi industri yang cukup menantang, Sewatama tak sekadar meningkatkan kualitas SDM melalui seminar dan pelatihan agar mampu menangani pekerjaan dengan lebih efisien dan efektif, melainkan juga menata ulang SDM dan menempatkan mereka sesuai dengan situasi dan kondisi pasar yang semakin dinamis. Upaya ini membuahkan hasil dengan dimenangkanya sejumlah tender baik melalui mekanisme JO maupun Sewatama sendiri.

C. KINERJA TANGGUNG JAWAB SOSIAL PERUSAHAAN DAN PENGELOLAAN LINGKUNGAN

Program tanggungjawab sosial (CSR) Sewatama terhadap masyarakat dilakukan bukan semata-mata sebagai kewajiban yang sudah tertuang dalam peraturan melainkan sebagai wujud tanggungjawab Sewatama untuk membantu meningkatkan taraf hidup masyarakat yang ada di sekitar lokasi proyek-proyek perusahaan.

Program CSR tersebut difokuskan pada peningkatan kompetensi, kesejahteraan dan keselamatan kerja karyawan Sewatama di lokasi pembangkit yang sebagian besar merupakan penduduk setempat yang dipekerjakan menjadi karyawan.

Program tersebut, khususnya keselamatan kerja karyawan juga diintegrasikan di dalam program Health, Safety and Environement (HSE). Melalui program HSE tersebut dari tahun ke tahun Sewatama berhasil meningkatkan kualitas keamanan dan kesehatan yang dibuktikan dari sertifikat dan penghargaan yang diperolehnya.

Program CSR Sewatama juga mencakup meningkatkan fasilitas fisik lingkungan dan sosial di mana proyek-proyek Sewatama berada, antara lain perbaikan sarana dan prasarana di lingkungan secara langsung maupun tidak langsung, seperti sarana ibadah dan pendidikan.

B. PERFORMANCE OF HUMAN RESOURCES MANAGEMENT

To encounter a challenging industrial situation, Sewatama doesn’t count merely on seminars and trainings to enhance human resources quality to handle the work more efficiently and effectively, but also on human resources re-arrangement as well as placing them suitable for market situation and condition which gets more and more dynamic. These efforts result in winning some tenders both through JO mechanism as well as through Sewatama itself.

C. PERFORMANCE OF COMPANY CSR AND ENVIRONMENTAL MANAGEMENT

Sewatama’s Corporate Social Responsibility (CSR) to the community stands not only as an obligation pursuant to the regulations but also as a form of Sewatama’s responsibility to help improve the community life standard around the Company’s projects.

The CSR program is focused on an improvement of competency, welfare and Safety of Sewatama employees in plants sites, mostly locals who are employed.

The program, especially work safety of the employee is also integrated in the program of Health, Safety and Environment (HSE). Through the HSE program Sewatama has successfully improved the quality of safety and health annually. It is proven by certificates and awards obtained.

Sewatama’s CSR program also covers the physical and environmental facility improvement on the sites of Sewatama projects, such as environment infrastructure improvement on sites, both directly and indirectly, such as worship and education facility.


Prospek 2018

Program pemerintah dalam 35 GW dipastikan masih berlangsung hingga beberapa tahun ke depan dan untuk memenuhi sementara kebutuhan listrik di lokasi terpencil, Pemerintah masih membuka peluang bagi pemain listrik swasta termasuk Sewatama. Demikian pula bagi swasta yang membutuhkan listrik cepat, handal dan terpercaya. Divisi Power Rental masih memberi peluang dan tetap berkontribusi secara signifikan kepada Sewatama.

Selain itu untuk lini bisnis yang lain, yakni O&M, IPP, solar panel dan bisnis ketenagalistrikan yang berbasiskan layanan, kapasitas dan layanannya akan terus ditingkatkan.

Efisiensi biaya operasional akan terus dipertahankan dan untuk lebih meningkatkan kinerja keuangan, sinergi Sewatama dengan perusahaan-perusahaan di dalam grup Tiara Marga Trakindo Group akan semakin ditingkatkan.

Penerapan GCG

Tata kelola perusahaan yang baik telah dilaksanakan secara konsisten oleh Sewatama berdasarkan prinsip-prinsip GCG sesuai dengan standar yang telah ditetapkan. Hal itu terlihat dari efektifnya komite-komite yang berada di bawah Komisaris maupun Direksi, sehingga mampu menghimpun, menilai dan melaporkan kejadian yang patut mendapatkan perhatian. Hasil penilaian pelaksanaan GCG Sewatama tahun 2017 mengalami perbaikan dibandingkan tahun-tahun sebelumnya menjadi sebesar 92% dari total nilai maksimal 100%.

2018 PROSPECTUS

Government Program of 35 GW will certainly lasts for several years ahead and to meet the temporary needs of power in remote areas, the Government still opens up opportunities for private participation including Sewatama . As well as private sectors who need fast, reliable and trusted electricity. Moreover, at present Power Rental division still opens the opportunity and keeps significantly contributing to Sewatama. Therefore, Sewatama will retain Power Rental business line.

Besides, considering other business lines, namely O&M, IPP, solar panel and service-based power business, their capacity and service will continue to be improved.

Operational costs efficiency will persistently be maintained, and in order to improve financial performance, Sewatama will progressively synergize with companies in Tiara Marga Trakindo Group.

IMPLEMENTATION OF GCG

Good Corporate Governance (GCG) has consistently been implemented by Sewatama based on the principle of GCG in keeping with standards determined. This is observed from the effectiveness of committees under Board of Commissioners and Directors, therefore they can collect, evaluate and report the events that deserve attention. The assessment results of GCG implementation of Sewatama in 2017 has been enhanced compared to the previous year, amounting to 92% out of total 100% maximum value.

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annual report 2017

Perubahan Susunan Anggota Direksi

Berdasarkan keputusan RUPS Tahunan Perseroan Tahun Buku 2017 tanggal 8 Mei 2016 komposisi Direksi berubah menjadi:

DIREKTUR UTAMA : Yovie PriadiDIREKTUR : Ferry Arief Sunandar

Per 1 Januari 2018 Yovie Priadi tidak lagi menjabat sebagai Direktur Utama terkait kebijakan restrukturisasi yang dijalankan Induk Perusahaan Grup PT ABM Investama Tbk. Kemudian, berdasarkan Akte Notaris No.17 Tanggal 5 Januari 2018, setelah melalui RUPS Luar Biasa yang dilakukan secara sirkuler, Perseroan menunjuk Ferry Arief Sunandar, yang sebelumnya menjabat sebagai Direktur, juga menjadi Chief Executive Officer Sewatama.

Penutup

Sewatama masih memiliki prospek ke depan yang menjanjikan, mengingat reputasi positif Sewatama sebagai salah satu pelaku industri ketenagalistrikan nasional dan belum terpenuhinya rasio elektrifikasi yang ideal di Indonesia. Sewatama memiliki peluang besar untuk terus bertahan bahkan berjaya di masa depan asalkan mendapat dukungan dari segenap unsur perusahaan yang tanpa mengenal lelah memberikan dukungan kepada Manajemen. Kami atas nama Sewatama mengucapkan terimakasih yang sebesar-besarnya kepada seluruh pemegang kepentingan termasuk Pemerintah pusat maupun daerah, Pemegang Saham, Dewan Komisaris, mitra bisnis, pelanggan, karyawan dan masyarakat sekitar lokasi operasional Perusahaan maupun masyarakat pada umumnya.

FERRY ARIEF SUNANDARCHIEF EXECUTIVE OFFICER

CEO

CHANGES IN THE COMPOSITION OF MEMBERS OF DIRECTORS

Based on the Annual General Meeting of Shareholders Financial Year 2017 dated 8th of May 2016, the composition has amended as follows:

President Director : Yovie PriadiDirector : Ferry Arief Sunandar

Since the 1st of January 2018, Yovie Priadi did not serve any longer as

Documents

€¦ · annual reort 2017 Fakta pertumbuhan ekonomi makro yang kian positif tidak selalu berbanding lurus dengan situasi bisnis ketenagalistrikan. Namun hal itu tidak menyurutkan