Financial Reports

Prospectus of Public Offering

Financial Highlight

Presented in millions Rupiah except for ratio, net-income per share and stock price

2018 2017 2016 2015 2014
COMPREHENSIVE INCOME STATEMENT
Revenue 1,269,759 1,233,452 1,115,699 1,115,699 1,115,699
Gross Profit 277,884 258,959 231,665 231,665 231,665
Profit 120,550 81,951 79,580 79,580 79,580
Profit Attributable to:
Owners of The Parent 112,250 77,544 77,662 77,662 77,662
Non-Controlling Interest 8,300 4,407 1,918 1,918 1,918
Comprehensive Income 120,911 82,411 226,939 226,939 226,939
Comprehensive Income attributable to:
Owners of The Parent 111,257 76,631 225,289 225,289 225,289
Non-Controlling Interest 9,655 5,780 1,650 1,650 1,650
Net Income per share 66 45 45 45 45
STATEMENT OF FINANCIAL POSITION
Current Assets 571,321 454,745 483,536 483,536 483,536
Non-Current Assets 515,848 560,526 568,596 568,596 568,596
Total Assets 1,087,169 1,015,271 1,052,132 1,052,132 1,052,132
Current Liabilities 397,433 374,336 436,912 436,912 436,912
Non-Current Liabilities 42,310 54,555 61,573 61,573 61,573
Total Liabilities 439,743 428,891 498,486 498,486 498,486
Equity attributable to:
Owners of The Parent 610,165 553,725 526,771 526,771 526,771
Non-Controlling Interest 37,260 32,655 26,875 26,875 26,875
Total Equity 647,426 586,380 553,646 26,875 26,875
KEY RATIOS
Return on Total Assets Ratio 15% 11% 9% 9% 9%
Return on Equity Ratio 19% 14% 14% 14% 14%
Current Ratio 1.44X 1.21X 1.11X 1.11X 1.11X
Debt to Equity Ratio 0.68X 0.73X 0.9X 0.9X 0.9X
Debt on Total Assets Ratio 0.4X 0.42X 0.47X 0.47X 0.47X
Gross Profit on Net-Sales Ratio 22% 21% 21% 21% 21%
Net-Income on Net-Sales Ratio 9% 7% 7% 7% 7%
INFORMATION ON SHARE
Total Outstanding Shares 1,713 1,713 1,713 1,713 1,713
Market Capitalization 849,654 469,365 527,608 527,608 527,608
Share Price
Highest 510 484 320 320 320
Lowest 266 270 208 208 208
Closing 496 274 308 308 308
Transaction Volume 259 155 323 323 323
CORPORATE ACTION
Partial Delisting:
Implementation Date 28-Apr-15
Total Delisted Shares 57
Outstanding Shares:
Before Partial Delisting 1,770
After Partial Delisting 1,713
Cash Dividend :
Interim Dividend :
Implementation Date 15-Jan-18
Ratio 1 : 15
Total Dividend Paid 25,695
Dividend Final :
Implementation Date 25 Juli 2018 14 Juli 2017 15 Juli 2016 03 Juli 2015 25 Juli 2014
Ratio 1 : 17 1 : 29 1 : 14 1 : 10 1 : 7
Total Dividend Paid 29,121 49,677 23,982 17,130 11,991

Financial Highlight

Presented in millions Rupiah except for ratio, net-income per share and stock price

COMPREHENSIVE INCOME STATEMENT
Revenue
2018 1,269,759
2017 1,233,452
2016 1,115,699
2015 1,115,699
2014 1,115,699
Gross Profit
2018 277,884
2017 258,959
2016 231,665
2015 231,665
2014 231,665
Profit
2018 120,550
2017 81,951
2016 79,580
2015 79,580
2014 79,580
Profit attributable to:
Owners of The Parent
2018 112,250
2017 77,544
2016 77,662
2015 77,662
2014 77,662

Non-Controlling Interest
2018 8,300
2017 4,407
2016 1,918
2015 1,918
2014 1,918
Comprehensive Income
2018 120,911
2017 82,411
2016 226,939
2015 226,939
2014 226,939
Comprehensive Income attributable to:
Owners of The Parent
2018 111,257
2017 76,631
2016 225,289
2015 225,289
2014 225,289

Non-Controlling Interest
2018 9,655
2017 5,780
2016 1,650
2015 1,650
2014 1,650
Net Income per share
2018 66
2017 45
2016 45
2015 45
2014 45
STATEMENT OF FINANCIAL POSITION
Current Assets
2018 571,321
2017 454,745
2016 483,536
2015 483,536
2014 483,536
Non-Current Assets
2018 515,848
2017 560,526
2016 568,596
Total Assets
2018 1,087,169
2017 1,015,271
2016 1,052,132
2015 1,052,132
2014 1,052,132
Current Liabilities
2018 397,433
2017 374,336
2016 436,912
2015 436,912
2014 436,912
Non-Current Liabilities
2018 42,310
2017 54,555
2016 61,573
2015 61,573
2014 61,573
Total Liabilities
2018 439,743
2017 428,891
2016 498,486
2015 498,486
2014 498,486
Equity attributable to:
Owners of The Parent
2018 610,165
2017 553,725
2016 526,771
2015 526,771
2014 526,771

Non-Controlling Interest
2018 37,260
2017 32,655
2016 26,875
2015 26,875
2014 26,875
Total Equity
2018 647,426
2017 586,380
2016 553,646
2015 26,875
2014 26,875
KEY RATIOS
Return on Total Assets Ratio
2018 15%
2017 11%
2016 9%
2015 9%
2014 9%
Return on Equity Ratio
2018 19%
2017 14%
2016 14%
2015 14%
2014 14%
Current Ratio
2018 1.44X
2017 1.21X
2016 1.11X
2015 1.11X
2014 1.11X
Debt to Equity Ratio
2018 0.68X
2017 0.73X
2016 0.9X
2015 0.9X
2014 0.9X
Debt on Total Assets Ratio
2018 0.4X
2017 0.42X
2016 0.47X
2015 0.47X
2014 0.47X
Gross Profit on Net-Sales Ratio
2018 22%
2017 21%
2016 21%
2015 21%
2014 21%
Net-Income on Net-Sales Ratio
2018 9%
2017 7%
2016 7%
2015 21%
2014 21%
INFORMATION ON SHARE
Total Outstanding Shares
2018 1,713
2017 1,713
2016 1,713
2015 1,713
2014 1,713
Market Capitalization
2018 849,654
2017 469,365
2016 527,608
2015 527,608
2014 527,608
Share Price:
Highest
2018 510
2017 484
2016 320
2015 320
2014 320

Lowest
2018 266
2017 270
2016 208
2015 208
2014 208

Closing
2018 496
2017 274
2016 308
2015 308
2014 308
Transaction Volume
2018 259
2017 155
2016 323
2015 323
2014 323
INFORMATION ON SHARE
Partial Delisting:
Implementation Date
2018
2017
2016
2015 28-Apr-15
2014

Total Delisted Shares
2018
2017
2016
2015 57
2014

Outstanding Shares:
Before Partial Delisting
2018
2017
2016
2015 1,770
2014
After Partial Delisting
2018
2017
2016
2015 1,713
2014
Cash Dividend :
Interim Dividend :
Implementation Date
2018 15-Jan-18
2017
2016
2015
2014
Ratio
2018 1 : 15
2017
2016
2015
2014
Total Dividend Paid
2018 25,695
2017
2016
2015
2014

Dividend Final :
Implementation Date
2018 25 Juli 2018
2017 14 Juli 2017
2016 15 Juli 2016
2015 03 Juli 2015
2014 25 Juli 2014
Ratio
2018 1 : 17
2017 1 : 29
2016 1 : 14
2015 1 : 10
2014 1 : 7
Total Dividend Paid
2018 29,121
2017 49,677
2016 23,982
2015 17,130
2014 11,991

Financial Information

Stock Information

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Public Company Ownership Structure

Share Ownership

Month :
Year :

Company Group and Shareholders Structure

Subsidiaries and Associated Companies

Name Subsidiary / Associated Company Percentage of Ownership Year Established Business Line Operation Status
PT Jasuindo Informatika Pratama Subsidiary 99.96% 2001 Printing, trade, services and information technology solutions Active
PT Jasuindo HID Security Subsidiary 51% 2013 Printing industry specifically focusing on producing electronic passports Active
PT Cardsindo Tiga Perkasa Associated Company 45% 2012 Printing industry specifically focusing on producing Telecommunication SIMs and Smart Card Active

Subsidiaries and Associated Companies

Name PT Jasuindo Informatika Pratama
Subsidiary / Associated Company Subsidiary
Percentage of Ownership 99.96%
Year Established 2001
Business Line Printing, trade, services and information technology solutions
Operation Status Active
Name PT Jasuindo HID Security
Subsidiary / Associated Company Subsidiary
Percentage of Ownership 51%
Year Established 2013
Business Line Printing industry specifically focusing on producing electronic passports
Operation Status Active
Name PT Cardsindo Tiga Perkasa
Subsidiary / Associated Company Associated Company
Percentage of Ownership 45%
Year Established 2012
Business Line Printing industry specifically focusing on producing Telecommunication SIMs and Smart Card
Operation Status Active

Good Governance

Organization Structure

Organization Structure

Image : Organization Structure, as of January 30th, 2020

Management

Board of Commissioner

Yongky Wijaya

President Commissioner

An Indonesian citizen, born on 4 July 1962. Started his career as a Director in PT Iga Mulia in 1985-1990. Serving as the Company’s President Director from 1990 to 14 May 2008. Has also served as a President Commissioner on 15 May 2008, followed by a position as a Commissioner from 10 June 2010 to 17 June 2014. Serving as the Company’s President Commissioner again to the present day based on the final decree of the 2017 Annual General Meeting of Shareholders (GMS). Currently also serving as the President Commissioner in PT Urban Jakarta Propertindo. Affiliated with Oei, Melinda Poerwanto and Oei, Allan Wibisono.

I Gede Auditta Perdana Putra

Independent Commissioner and
Chairman of The Audit Committee

An Indonesian citizen, 36 years old. Born on 9 June 1983. Finished his Master’s programme in Accounting Science in Universitas Brawijaya Malang in 2013, and achieved several other certifications such as the Financial Planning Standards Board Indonesia and Certified Management Accountant. Pursuing his career from an Auditor to a General Manager in Made Sudarma, Thomas & Dewi Public Accountant Office. Currently also serving as a Managing Partner in ID Consulting Associates Global and the Chairperson in Indonesian Management Association (AMA) as well as an Extraordinary Lecturer at Ma Chung University. Has been serving in the Company as an Independent Commissioner and a Chairperson of the Audit Committee since 3 June 2015 to the present day based on the first-time appointment in the 2014 Annual GMS.

Oei, Melinda Poerwanto

Commissioner

An Indonesian citizen, 59 years old, born in Jombang on 25 April 1960. A business graduate of Citrus College, the United States in 1983 and a Master of Bible Study in STTI Jakarta in 2017. Started her career in the Company as a Commissioner since 1990 and appointed as a President Commissioner in the Company, serving from 31 October 2001 to 2008. In 2008-2019, serving as the Finance Executive, leading the Accounting and Finance Department in the Jakarta Representative Office. Then, she served as a Commissioner in the Company to the present day based on the decree of the 2018 Annual GMS. Affiliated with Yongky Wijaya and Oei, Allan Wibisono.

Board of Director

Oei, Allan Wibisono

President Director

An Indonesian citizen, born on 10 October 1964. A graduate of the California State University of Long Beach, the United States, majoring in Computer Science and Mathematics in 1988. Started his career as the Company’s Marketing Manager in 1991-1995. Serving as a Director of the Company from 1995 to 14 May 2008, followed by a position of President Director of the Company to the present day based on the final decree of the 2017 Annual GMS. Affiliated with Yongky Wijaya and Oei, Melinda Poerwanto.

Drs. Lukito Budiman

Finance Director and
Corporate Secretary

An Indonesian citizen, born on 7 April 1960. A graduate of the Faculty of Economy of Universitas Merdeka, Malang, majoring in Accounting in 1985. Started his career as a Director in 1986-1988, a President Director in 1988-2002, and a President Commissioner 2002-2003 in PT Bank Pasar Sumber Arto Malang. Serving as a General Manager of the Company from 1999 to 14 May 2008. Then, he served as the Finance Director and concurrently as a Corporate Secretary to the present day based on the final decree of the 2017 Annual GMS.

Oei, Hendro Susanto

Marketing Director I

An Indonesian citizen, born on 23 May 1964. A graduate of Sekolah Tinggi Teknik Surabaya in 1990. Started his career as a Production Manager of the Company in 1991-1996, and as a Marketing Manager in 1996-2008. Has been serving as the Marketing Director of the Company to the present day based on the final decree of the 2017 Annual GMS.

Hery Aryanto FAM

Marketing Director II (Independent)

An Indonesian citizen, born on 26 June 1960. A Graduate of Universitas Merdeka, Malang, in 1987. Started his career in PT Hokindo in 1987-1990. His career in the Company started in 1999-2000 in marketing, followed by a position of Marketing Manager in 2001-2006 and a General Manager in 2006-2007. In 2007, he was appointed as a Branch Head. Serving as a Marketing Director in 2008-2013, followed by a position as a General Manager until 2017. Has been serving as the Marketing Director of the Company to the present day based on the final decree of the 2017 Annual GMS, also appointed as the Independent Director of the Company.

To regulate and encourage a pattern of relationships, systems, and processes used in the company to create governance an efficient, transparent and consistent company with the applicable laws and regulations. In order to be able to achieve the sustainability of the company with its stakeholders and shareholders through good company management. Therefore, policies and regulations are made to regulate corporate governance, as well as supervision from related groups and institutions.

Risk Management Policy

The company realized that in the operations of bussiness there are some risks that must be faced. Therefore, as the company’s commitment in the implementation of good corporate governance then company assigned the management policies related to financial risk as a guide to all the employees of the company in running their work activities.

Risk Management Policy

Anti Corruption Policy

The Company is committed to continue to create a healthy business climate and free from corruption. It is stated in the code of conduct regarding the policy on transactions or gratuities that are not justified according to the Law No. 8 of 2010 on the prevention and combating of money laundering and other laws and regulations.

Other Policy

Policies related to supplier selection and creditor rights

The company realizes about the significance and crucial role of suppliers in supporting the company’s business. Therefore do the selection of suppliers with an objective consideration is very important thing. Selection begins with the selection phase based on its ability to supply product in accordance with the specified by the company. The Company also conducts periodic evaluations to ensure that the purchased product has met the specified requirements. On cooperation from both sides, the fulfillment of obligations either by the supplier or buyer of goods must be met. This is important in maintaining relationships and credibility of each other.

Policies to increase the ability of vendors

The company believes that with the increasing market demand and accompanied by advances in technology led to an increasingly competitive products in both the specification and the selling price. To support it all, increasing the ability of the vendor is also a concern of the company as one part in the creation of a satisfactory result. Vendors are expected to grow together and can meet the needs of the company includes understanding each cycle, namely the provision of goods and services on the company’s operations.

Internal Audit Unit

Internal Audit Unit is a unit that established to assist the Board of Directors in carrying out supervisory role in the Company, especially in terms of providing assurance and consultations which is independent and objective, through a systematic approach, by evaluating and improving the effectiveness of risk management, control , and process of corporate governance

Internal Audit Charter

Audit Committee

The establishment of the company’s Audit Committee is an integral part of the company’s efforts to implement good corporate governance. In implementation of good corporate governance, the role and functions of the Audit Committee be well placed to assist and enhance the role of Commissioners to execute supervisory functions, all of that was contained in the charter of the audit committee. It is expected the roles and functions of each organ of the company (GMS, BOC and BOD) can be structured and balanced in realizing the objectives of the company.

Audit Committee Charter

Audit Committee’s Member Appointment

Whistleblowing System

Submission of reporting alleged violations along with the proof can be carried out by employees of the company or third parties regarding accounting and auditing issues, allegations of fraud and corruption and violations of the code of conducts of the company to the audit committee to address:

Audit Committee
PT Jasuindo Tiga Perkasa, Tbk
Jl. Raya Betro No 21 Sedati
Sidoarjo 61253

For that report, the company guarantees the safety of employees and third parties, the complaints / reporting alleged violations. Furthermore, the audit committee will follow up on the complaint in accordance with established procedures.

Other Information

Capital Market Supporting Institutions Professions

Public Accounting Firm
Paul Hadiwinata, Hidajat Arsono, Retno Palilingan & Partners

Head Office:
Jalan Kebon Sirih Timur 1 No 267
Menteng, Jakarta 10340
Phone: (021) 3144003
Fax: (021_ 3144213, 3144363
Website: www.pkf.co.id
Surabaya Branch:
Jl. Ngagel Jaya No 90
Surabaya
Phone: (031) 5012161
Fax: (031) 5012335

Security Administrative Bureau
PT Bima Registra

Satrio Tower, 9th Floor A2 Zone
Jl. Prof. Dr. Satrio Blok C4, Kuningan, Setiabudi
Southern Jakarta 12950
Phone: (021) 2598 4818
Fax: (021) 2598 4819
Website: www.bimaregistra.co.id