Dengan mengucapkan puji syukur kepada Tuhan Yang Maha Esa, kami, Dewan Komisaris PT Tempo Scan Pacific Tbk bersama ini menyampaikan penjelasan tentang pengawasan kami atas kinerja dan kegiatan operasional dari PT Tempo Scan Pacific Tbk beserta anak perusahaannya (“Tempo Scan”) sebagaimana hasil capaian Direksi Tempo Scan selama tahun buku yang berakhir pada tanggal 31 Desember 2014.
Sepanjang tahun 2014, sebagian besar negara anggota Uni Eropa masih dilanda krisis dan ketidakpastian ekonomi meskipun Bank Sentral Eropa (ECB) berupaya mempertahankan stimulus dengan suku bunga rendah.
Sementara di Asia, pertumbuhan ekonomi China terus melambat. Di lain sisi, ekonomi Amerika Serikat (AS) menunjukkan kinerja membaik seiring dengan dihentikannya program stimulus The FED sebagaimana dikenal dengan Quantitative Easing (QE) sesuai sinyal pertumbuhan yang diharapkan dan terus menurunnya tingkat pengangguran di AS dalam 2014. Dengan pulihnya ekonomi AS, kemungkinan dilanjutkan dengan kenaikan suku bunga acuan Bank Sentral.
Faktor eksternal tersebut di atas, dibarengi dengan pelemahan nilai tukar Rupiah antara lain terhadap Dolar AS, membawa Indonesia dalam situasi yang tidak mudah. Saat pemilihan Presiden Indonesia pada Juli 2014 yang semula diyakini akan memberikan sentimen positif kepada pasar, ternyata tidak memperlihatkan perubahan
With the blessing of God Almighty, on behalf of the Board of Commissioners of PT Tempo Scan Pacific Tbk, we would like to explain our supervision on the business performance and operations of PT Tempo Scan Pacific Tbk and its subsidiaries (“Tempo Scan”) as conducted by Tempo Scan’s Board of Directors during its financial year which ended as at December 31, 2014.
Throughout 2014, most of the EU member states were still in crisis and economic uncertainty despite the European Central Bank (ECB) stressed to maintain the stimulus with low interest rates. Meanwhile in Asia, China’s economic growth continued to slow down.
On the other hand, the US economy showed improved performance as in line with the termination of the FED’s stimulus program known as Quantitative Easing (QE) in accordance with the expected growth signals and decline in the unemployment rate in the US during 2014. With the continued recovery of the US economy, probably to be followed by the increase of the US Federal funds rate.
The external factors mentioned above, coupled with the weakening of the Rupiah among others against the US Dollar, has caused Indonesia to be in a challenging position. While the election of the President of Indonesia in July 2014 of which many people previously believed that it would provide a positive sentiment to the market,
35 signifikan. Selama tahun 2014 perekonomian Indonesia
mengalami tekanan dengan ditandai capaian pertumbuhan ekonomi yang lebih rendah dari proyeksi sebelumnya yakni pada kisaran 5,1%, dibandingkan dengan tingkat pertumbuhan Indonesia rata-rata sebesar 6,2% selama tiga tahun terakhir.
Namun indeks harga saham gabungan (IHSG) pada 30 Desember 2014 berhasil ditutup di level 5.226,95 atau terjadi peningkatan sebesar 22% bila dibandingkan dengan IHSG yang pada akhir 2013 ditutup di level 4.274,18. Pergerakan nilai tukar Rupiah khususnya terhadap Dolar AS berangsur melemah sejak awal tahun 2013 dari kisaran Rp 9.670 turun menjadi Rp 12.440 pada akhir tahun 2014, atau terjadi penurunan sekitar 28% dalam kurun waktu dua tahun.
Tekanan terhadap nilai tukar Rupiah terjadi antara lain akibat defisit transaksi berjalan Indonesia yang memburuk dan meningkatnya laju inflasi disebabkan antara lain dipicu naiknya harga bahan bakar minyak (BBM) dalam bulan Nopember 2014 dalam kisaran 30%, yang tahun sebelumnya harga BBM dinaikkan sebesar kisaran 40% (Juni 2013).
Sebagai konsekuensi kenaikan harga BBM, Bank Indonesia mengurangi likuiditas dan menaikkan suku bunga acuan (BI rate) dalam bulan Nopember 2014 dengan 25 bps (basis poin) menjadi 7,75%, setelah pada semester kedua 2013 tingkat suku bunga acuan BI naik sebesar 175 bps.
Di tengah situasi ekonomi yang tidak mudah sepanjang tahun 2014, Tempo Scan berhasil merampungkan pembangunan pabrik susu formula yang merupakan awal perluasan segmen usaha Tempo Scan. Secara keseluruhan, kinerja keuangan Tempo Scan dapat dinyatakan cukup memuaskan meskipun upah minimum meningkat dibarengi kenaikan tarif listrik industri serta harga minyak. Nilai penjualan bersih konsolidasian Tempo Scan meningkat 9,6% serta berjumlah Rp 7.512 milyar.
Laba kotor Tempo Scan meningkat 8,1% atau berjumlah Rp 2.940 milyar, dan karenanya marjin laba kotor menurun menjadi 39,1% dibandingkan dengan marjin laba kotor tahun sebelumnya yakni 39,7%. Sementara beban usaha Tempo
fundamentally there were no significant changes. During 2014 the Indonesian economy was under pressure as marked with the achievement of economic growth which was lower than the previous forecast namely in the range of 5.1%, compared to a growth rate of Indonesia on average of 6.2% over the last three consecutive years.
However, the stock price index (IHSG) on December 30, 2014 successfully closed at 5,226.95, or an increase of 22% compared with the end of 2013 whereby the IHSG closed at 4,274.18. Rupiah exchange rate against the US Dollar in particular, gradually weakened since the beginning of 2013 from the range of Rp 9,670 declined to Rp 12,440 at the end of 2014, or a decline of about 28% within two years. The pressure on the Rupiah exchange rate occurred partly as a result of Indonesia’s current account deficit deterioration and rising inflation caused partly by the rising price of fuel in November 2014 in the range of 30%, and the previous year fuel prices increased by around 40%
(June 2013). As a consequence of the increase in fuel price, Bank Indonesia has reduced liquidity and raised the benchmark interest rate (BI rate) in November 2014 with 25 bps to become 7.75% in addition to the 175 bps increase in the second half of 2013.
In the midst of an uncertain economic situation throughout 2014, Tempo Scan successfully completed the construction of its new factory producing infant formula milk, which is the beginning of the expansion of the business segment of Tempo Scan. Overall, the financial performance of Tempo Scan can be considered fairly satisfactory despite the increase in minimum wages as well as increase of industrial electricity tariff and fuel prices. Tempo Scan’s consolidated net sales increased 9.6% and amounted to Rp 7,512 billion.
Tempo Scan’s gross profit managed to rise by 8.1% and it amounted to Rp 2,940 billion, hence its gross profit margin decreased to become 39.1% compared to the previous year gross profit margin of 39.7%. Further
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Scan meningkat 15,3% atau berjumlah Rp 2.262 milyar di mana peningkatan tersebut merupakan peningkatan dari biaya promosi dan penjualan. Manajemen Tempo Scan telah memberikan penjelasan kepada Dewan Komisaris mengenai perlunya peningkatan biaya-biaya tersebut. Terkait dengan yang diuraikan di atas, laba usaha Tempo Scan menurun 10,5% dan berjumlah Rp 678 milyar dan marjin laba usaha adalah 9%. Dengan demikian, untuk tahun 2014 laba bersih Tempo Scan berjumlah Rp 579,4 milyar atau mengalami penurunan sebesar 8,7% dibandingkan dengan laba bersih tahun lalu. Demikian pula EBITDA Tempo Scan berjumlah Rp 804,7 milyar atau turun sebesar 7,1% dibandingkan EBITDA tahun sebelumnya.
Dalam tahun 2014 Tempo Scan membiayai pembelian barang modal yang keseluruhannya bersumber dari kas internal Tempo Scan. Meskipun demikian, posisi neraca Tempo Scan pada tanggal 31 Desember 2014 tetap dapat dianggap solid dengan kekayaan dan ekuitas total masing-masing mencapai Rp 5,6 triliun dan Rp 4,1 triliun serta kas, setara kas dan investasi jangka pendek mencapai Rp 1,5 triliun.
Lebih lanjut, Dewan Komisaris mengamati bahwa meskipun di tengah ketidakpastian faktor eksternal seperti meningkatnya berbagai beban atau biaya, melemahnya nilai tukar Rupiah terhadap mata uang asing tertentu sebagaimana diuraikan di atas, dan semakin ketatnya persaingan usaha, jajaran Direksi beserta tim manajemen di seluruh bagian operasional Tempo Scan secara konsisten mengupayakan langkah-langkah penting bagi Tempo Scan dengan memulai masuk segmen usaha baru, antara lain produk nutrisi berbasis susu, mengembangkan varian produk baru di samping memperkuat kedudukan produk yang telah ada dengan merek dagang yang dimiliki Tempo Scan sendiri, di samping terus mengupayakan peningkatan efisiensi dalam proses produksi, baik dalam pabrik farmasi maupun pabrik produk konsumen & kosmetika, serta memperbaiki tingkat layanan dari divisi distribusi sehingga mampu meningkatkan ketersediaan khususnya semua produk Tempo Scan pada segala jenis outlet di seluruh wilayah Republik Indonesia.
Tempo Scan’s operating expenses increased by 15.3%
or amounted to Rp 2,262 billion and such increase was contributed to higher promotion and selling expenses.
Tempo Scan’s management has explained to the Board of Commissioners the necessity of such expenses’ increase.
In connection with the above, Tempo Scan’s operating profit registered a decline of 10.5% and amounted to Rp 678 billion and its operating profit margin stood at 9%. As a consequence, in 2014 Tempo Scan net profit amounted to Rp 579.4 billion or a decrease of 8.7% compared to its net profit of the preceding year. Consequently, Tempo Scan’s EBITDA amounted to Rp 804.7 billion or a decrease of 7.1% compared to the preceding year EBITDA.
In 2014 Tempo Scan financed its capital expenditures totally with Tempo Scan’s internal cash, and nonetheless, Tempo Scan’s balance sheet position at December 31, 2014 remained deemed solid with its total assets and shareholders’ equity respectively amounted to Rp 5.6 trillion and Rp 4.1 trillion while its cash, cash equivalent and short term investments reached Rp 1.5 trillion.
Moreover, the Board of Commissioners observed that although in the midst of uncertain external factors such as the increase of various costs , the weakening of Rupiah against certain foreign currency as mentioned above, and the fierce business competition, the Board of Directors and its management team in all parts of Tempo Scan’s operations consistently pursued important actions for Tempo Scan among others to enter into new business segment such as nutritional dairy products, to develop new products’ variances and to strengthen the position of existing products using Tempo Scan’s own brands, and further to enhance the efficiency of the production processes in both its pharmaceutical as well as consumer products
& cosmetics manufacturing plants, and improve the services of the distribution division so as to increase the availability of particularly all Tempo Scan’s products in all types of outlets in the territory of the Republic of Indonesia.
37 Selanjutnya, kami mengawasi pula cara Tempo Scan
menjalankan usahanya, untuk memastikan bahwa pelaksanaannya dilakukan sesuai dengan ketentuan Anggaran Dasar Tempo Scan. Di samping tentunya, untuk memastikan bahwa tindakan korporasi yang dilaksanakan oleh Tempo Scan adalah sesuai undang-undang dan peraturan yang berlaku, termasuk ketentuan baru di bidang Pasar Modal.
Dewan Komisaris tetap fokus pada peran pengawasannya untuk meningkatkan transparansi dalam sistem pelaporan Tempo Scan, karena kami percaya bahwa ketepatan dan transparansi dalam pelaporan adalah dasar sistem tata kelola perusahaan yang baik, dan karenanya senantiasa dipertahankan dan di mana mungkin ditingkatkan.
Dewan Komisaris telah memberikan persetujuannya atas laporan keuangan konsolidasian Tempo Scan yang telah diaudit untuk tahun buku yang berakhir pada 31 Desember 2014 yang diterbitkan oleh kantor akuntan publik Tanubrata Sutanto Fahmi & Rekan dengan laporannya tertanggal 19 Maret 2015 No. 265/5-T022/ER-1/12.14.
Oleh karenanya, Dewan Komisaris Perseroan mengusulkan agar Rapat Umum Tahunan Para Pemegang Saham yang akan datang juga menyetujui laporan keuangan konsolidasian yang telah diaudit tersebut di atas.
Akhirnya, Dewan Komisaris ingin menyampaikan penghargaannya kepada Direksi, Manajemen, dan seluruh karyawan/karyawati Tempo Scan atas semua kerja keras mereka yang telah menghasilkan pencapaian kinerja yang cukup memuaskan pada 2014 sebagaimana tercantum dalam Laporan Tahunan Tempo Scan, dan tak lupa kami juga menyampaikan terima kasih kepada semua mitra usaha Tempo Scan.
Furthermore, we also supervised Tempo Scan’s business conduct and practice to ensure that their implementations were executed pursuant to the provisions of Tempo Scan’s Articles of Association and in line with the prevailing laws and regulations, including those new regulations of the Capital Market.
The Board of Commissioners remained focused on its supervisory role to promote transparency in Tempo Scan’s reporting system, since we believe that reporting accuracy and transparency is part of good corporate governance guidelines and as such should be continuously maintained and where practicable enhanced.
The Board of Commissioners had approved Tempo Scan’s audited consolidated financial statements for the fiscal year ending on December 31, 2014 issued by the registered public accountant’s office Tanubrata Sutanto Fahmi & Rekan through its report dated March 19, 2015 No. 265/5-T022/ER-1/12.14.
Therefore, the Board of Commissioners proposes that the upcoming Annual General Meeting of Shareholders also would approve Tempo Scan’s aforementioned audited consolidated financial statements.
Finally, the Board of Commissioners would like to express its appreciation to Tempo Scan’s Board of Directors, Management, and all employees for all their hard work in achieving a satisfactory performance in 2014 as stated in Tempo Scan’s Annual Report and, last but not least, we also would like to extend our thanks to all Tempo Scan’s business partners.