/$325$13(1(/,7,$1+,%$+3(1*$-$5$1 3+.,81<7$+81$1**$5$1
.(78$3(1(/,7,
'LGLN+DUL\DQWR07 6LJLW<DWPRQR07 'HQ\%XGL+HUWDQWR0.RP +HUODPEDQJ6LJLW3UDPRQR0&V
352*5$0 678',3(1',',.$17(.1,.(/(.752 -8586$13(1',',.$17(.1,.(/(.752
)$.8/7$67(.1,.
81,9(56,7$61(*(5,<2*<$.$57$
3(0$1)$$7$10(',$3(0%(/$-$5$1´= 6,08/$725µ 8178.0(1,1*.$7.$1.203(7(16,0$+$6,6:$
LL
-XGXO3HQHOLWLDQ 3HPDQIDDWDQ0HGLD3HPEHODMDUDQ´= 6LPXODWRUµ8QWXN0HQLQJNDWNDQ.RPSHWHQVL
0DKDVLVZD3DGD0DWD.XOLDK3UDNWLN
0LNURSURVHVRU
-XUXVDQ3URJ6WXGL 3HQGLGLNDQ7HNQLN(OHNWUR 0DWD.XOLDK 3UDNWLN0LNURSURVHVRU 6HPHVWHU *HQDS
.HWXD3HQHOLWL 'LGLN+DUL\DQWR07 $QJJRWD 6LJLW<DWPRQR07
'HQ\%XGL+HUWDQWR0.RP
+HUODPEDQJ6LJLW3UDPRQR0&V 8QLW.HUMD 3URJUDP6WXGL3HQGLGLNDQ7HNQLN(OHNWUR
)DNXOWDV7HNQLN81<
/RNDVL3HQHOLWLDQ -XUXVDQ3HQG7HNQLN(OHNWUR)781< -DQJND:DNWX3HQHOLWLDQEXODQ
%LD\D3HQHOLWLDQ 5S
<RJ\DNDUWD6HSWHPEHU 0HQ\HWXMXL%33 .HWXD3HQHOLWL
3URI6XPDUQR3K' 'LGLN+DUL\DQWR07
LLL
.$7$3(1*$17$5
3XMLGDQV\XNXUNHKDGLUDW$OODK6:7NDUHQDEHUNDWUDKPDWGDQ KLGD\DK1\D SHQXOLV GDSDW PHQ\HOHVDLNDQ SHQHOLWLDQ LQL GHQJDQ EDLN
3HQHOLWLDQGHQJDQMXGXO´3HPDQIDDWDQ0HGLD3HPEHODMDUDQ=6LPXODWRU 8QWXN 0HQLQJNDWNDQ .RPSHWHQVL 0DKDVLVZD 3DGD 0DWD .XOLDK 3UDNWLN
0LNURSURVHVRUµLQLGLODNVDQDNDQGL-XUXVDQ3HQGLGLNDQ7HNQLN(OHNWUR)7 81<GDQGLELD\DLGHQJDQGDQD3+.,81<WDKXQDQJJDUDQ
3HQHOLWL VDGDU EDKZD SHQHOLWLDQ LQL GDSDW WHUODNVDQD GHQJDQ EDLN
WLGDNOHSDVGDULEDQWXDQGDQELPELQJDQEHUEDJDLSLKDN2OHKNDUHQDLWX GDODPNHVHPSDWDQLQLSHQXOLVLQJLQPHQJXFDSNDQWHULPDNDVLKNHSDGD
3LPSLQDQ 3+., 81< \DQJ WHODK PHPEHUL NHVHPSDWDQ SHQHOLWL PHODNVDQDNDQSHQHOLWLDQLQL
.HWXD-XUXVDQ3HQGLGLNDQ7HNQLN(OHNWUR)DNXOWDV7HNQLN8QLYHUVLWDV 1HJHUL<RJ\DNDUWD
.RRUGLQDWRU /DERUDWRULXP .RPXQLNDVL 'DWD \DQJ WHODK PHQJLMLQNDQ SHQJJXQDDQODERUDWRULXPQ\DGDODPSHODNVDQDDQSHQHOLWLDQLQL
7HPDQWHPDQ 'RVHQ -XUXVDQ 3HQGLGLNDQ 7HNQLN (OHNWUR )DNXOWDV 7HNQLN8QLYHUVLWDV1HJHUL<RJ\DNDUWD
$WDV EDQWXDQ GDQ SHUDQ VHUWDQ\D VHODPD SHQ\HOHVDLDQ SHQHOLWLDQ
LQL SHQXOLV PHQJXFDSNDQ WHULPD NDVLK GDQ VHPRJD PHQGDSDW LPEDODQ \DQJVHWLPSDOGDUL$OODK6:7
'HPLNLDQODK NLUDQ\D GDQ DSDELOD WHUGDSDW NHNHOLUXDQ SHQHOLWL PRKRQGLEHQDUNDQXQWXNPHQMDXKNDQGDULNHVHVDWDQ$NKLUNDWDVHPRJD
SHQHOLWLDQLQLGDSDWPHPEHULNDQPDQIDDWVHEDJDLPDQDPHVWLQ\D
LY
'$)7$5,6,
+$/$0$1-8'8/ L
+$/$0$13(1*(6$+$1 LL
$%675$. LLL .$7$3(1*$17$5 LY
'$)7$5,6, Y '$)7$57$%(/ YLL
'$)7$5*$0%$5 YLLL '$)7$5/$03,5$1 L[
%$%, 3(1'$+8/8$1
$ /DWDU %HODNDQJ3HQHOLWLDQ
% 5XPXVDQ0DVDODK & 7XMXDQ.HJLDWDQ3HQHOLWLDQ
%$%,, .$-,$17(25,
$ ,QWHUDNVL%HODMDU0HQJDMDU % 0HGLD3HPEHODMDUDQ
& 0DQIDDW0HGLDGDODP3HPEHODMDUDQ ' =6LPXODWRU
( .HUDQJND%HUSLNLU
%$%,,, 0(72'(3(1(/,7,$1
$ 7HPSDWGDQ:DNWX3HQHOLWLDQ % 6XE\HN3HQHOLWLDQ
& 'HVDLQ3HQHOLWLDQ ' ,QGLNDWRU.LQHUMD
Y
) 7HNQLN$QDOLVLV'DWD
%$%,9 +$6,/3(1(/,7,$1'$13(0%$+$6$1
$ 'HVNULSVL'DWD
% 3HPEDKDVDQ
%$%9 .(6,038/$1'$16$5$1
$ .HVLPSXODQ
% 6DUDQ
YL
'$)7$57$%(/
7DEHO,QGLNDWRU.LQHUMD3HQHOLWLDQ
7DEHO.HVHVXDLDQ3%0GHQJDQ5HQFDQD7LQGDNDQ6LNOXV,
7DEHO.HVHVXDLDQ3%0GHQJDQ5HQFDQD7LQGDNDQ6LNOXV,, 7DEHO.HVHVXDLDQ3%0GHQJDQ5HQFDQD7LQGDNDQ6LNOXV,,,
7DEHO'DWD1LODL0DKDVLVZDGDUL8MLDQ3UDNWLNXP 7DEHO'LVWULEXVL1LODL0DKDVLVZDGDUL8MLDQ3UDNWLNXP
YLL
'$)7$5*$0%$5
*DPEDU3HQHOLWLDQWLQGDNDQPRGHO.XUW/HZLQ *DPEDU.HVHVXDLDQ3%0GHQJDQ5HQFDQD7LQGDNDQGDODP
7LJD6LNOXV
*DPEDU3HUVHQWDVH1LODL0DKDVLVZD
YLLL
'$)7$5/$03,5$1
/DPSLUDQ,QVWUXPHQ3HQHOLWLDQ
/DPSLUDQ/DEVKHHW3UDNWLN0LNURSURVHVRUGHQJDQPHPDQIDDWNDQ
=6LPXODWRU
%$%, 3(1'$+8/8$1
$ /DWDU%HODNDQJ3HQHOLWLDQ
0DWD .XOLDK 3UDNWLN 0LNURSURVHVRU PHUXSDNDQ PDWD NXOLDK SUDNWHN 6.6 \DQJ SHODNVDQDDQQ\D GLODNXNDQ GL /DERUDWRULXP
.HQGDOL -XUXVDQ 3HQGLGLNDQ 7HNQLN (OHNWUR )7 81< 'DODP PDWD NXOLDK LQL PDKDVLVZD GLDMDUNDQ WHQWDQJ EDJDLPDQD PHQJHQDO
PHPDKDPLGDQPHODNXNDQSHPURJUDPDQSDGDVHEXDKPLNURSURVHVRU =
'DODP SHODNVDQDDQ NXOLDK GLVDDW PHODNXNDQ SHPURJUDPDQ SDGD PLNURSURVHVRU GLWHPXL EDQ\DN NHQGDOD GLPDQD PDKDVLVZD
PHUDVD NHVXOLWDQ GDODP PHQHUMHPDKNDQ EDKDVDPQHPRQLF NH GDODP
EHQWXNNRGHRSHUDVLDWDXELDVDGLVHEXWRSHUDWLRQFRGHRSFRGH %DKDVD PQHPRQLF PHUXSDNDQ EDKDVD \DQJ PXGDK GLSDKDPL SHQJJXQD
VHEDJDL SHQJDQWDU XQWXN PHQGDSDWNDQ RSFRGH 6HGDQJNDQ RSFRGH DGDODK EDKDVD \DQJ ELVD GLWHULPD ROHK PLNURSURVHVRU QDPXQ VDQJDW
VXOLW XQWXN GLSDKDPL GDQ GLKDSDONDQ ROHK SHQJJXQD PDQXVLD 'DODP SURVHV PHPSURJUDP PLNURSURVHVRU PDKDVLVZD KDUXV
PHPEXDW GXOX XUXWDQ LQVWUXNVL GDODP EDKDVDPQHPRQLF 6HWHODK LWX
EDKDVD PQHPRQLF WHUVHEXW GLXEDK NH NRGHNRGH RSHUDVL GHQJDQ PHQJJXQDNDQ EDQWXDQ WDEHO NRGH RSHUDVL 7DEHO NRGH RSHUDVL
PHPSXQ\DL MXPODK \DQJ PHQFDSDL UDWXVDQ NRGH VHKLQJJD PHQLPEXONDQNHVXOLWDQGDQPHPDNDQZDNWX\DQJFXNXSODPD
3URVHV SHQHUMHPDKDQ \DQJ GLODNXNDQ VHFDUD PDQXDO MXJD NDGDQJ PHQLPEXONDQ NHVDODKDQ SHQHUMHPDKDQ .HVDODKDQ WHUMDGL
ODPDGDQPHQJDNLEDWNDQZDNWXSUDNWHNPDKDVLVZDPHQMDGLVHPDNLQ
WHUEDWDV
6HODPD LQL SUDNWLN PLNURSURVHVRU PHQJJXQDNDQ PRGXO PLNURSURVHVRUWLSH=LORJ'LSLOLKQ\DWLSHPLNURSURVHVRULQLGHQJDQ
SHUWLPEDQJDQ SHUDODWDQ \DQJ VXGDK GLPLOLNL ROHK SURGL 3HPLOLKDQ WLSH =LORJ SDGD SHPEDKDVDQ WHRUL PDXSXQ SHQJJXQDDQ PRGXO
SDGD SUDNWLN PHQJDQGXQJ EHEHUDSD NHOHPDKDQ KDO LQL GLNDUHQDNDQ PRGXO =LORJ DNDQ EHNHUMD GDQ GDSDW PHQ\LPSDQ LQVWUXNVL \DQJ
GLPDVXNNDQ VHODPD DGD VXPEHU OLVWULN \DQJ PDVXN $SDELOD WHUMDGL PDOIXQFWLRQ VXPEHU OLVWULN PDND NRGH RSHUDVL DWDX LQVWUXNVL \DQJ
VXGDKGLPDVXNNDQDNDQKLODQJKDOLQLDNDQPHQ\HEDENDQNHKLODQJDQ EDQ\DNZDNWXXQWXNPHQXOLVXODQJODJLLQVWUXNVLLQVWUXNVL\DQJLQJLQ
GLODNXNDQSHUFREDDQ
3HQFDSDLDQ KDVLO EHODMDU PDWD NXOLDK LQL PDVLK UHQGDK \DLWX GDULGDWDNHOXOXVDQWDKXQGLSHUROHKGDWDWLQJNDWNHOXOXVDQ
DGDODK GHQJDQ SHQFDSDLDQ QLODL GLDWDV % VHEHVDU VDMD .HQ\DWDDQ LQL PHQXQMXNNDQ EDKZD SHUPDVDODKDQ \DQJ DGD VDODK
VDWXQ\D GLVHEDENDQ SHQJJXQDDQ PRGXO =LORJ \DQJ PHPDNDQ ZDNWX \DQJ ODPD GDODP KDO XQWXN PHODNXNDQ SHUFREDDQ VHKLQJJD
SHQJJXQDDQZDNWXSUDNWHNNXUDQJHILVLHQ
6DODK VDWX FDUD \DQJ ELVD GLODNXNDQ XQWXN PHQFDSDL WXMXDQ
WHUVHEXW GLDWDV DGDODK GHQJDQ PHPDQIDDWNDQ PHGLD SHPEHODMDUDQ ´= 6LPXODWRUµ \DQJ PHUXSDNDQ SURJUDP NRPSXWHU \DQJ GDSDW
EHUODNX GDQ EHUMDODQ VHOD\DNQ\D PRGXO =LORJ \DQJ VHEHQDUQ\D
'HQJDQ PHQJJXQDNDQ PHGLD ´= 6LPXODWRUµ PDND EDULVEDULV LQVWUXNVL \DQJ GLPDVXNNDQ ELVD GLVLPSDQ VHSHUWL KDOQ\D PHQ\LPSDQ
ILOH GL GDODP NRPSXWHU GDQ ELVD GLSDQJJLO XODQJ 6HODLQ LWX WLGDN GLSHUOXNDQ DGDQ\D SURVHV SHQHUMHPDKDQ GDUL EDKDVD PQHPRQLF NH
ODPD 'HQJDQ PHQJJXQDNDQ PHGLD ´=6LPXODWRUµ DNDQ GLGDSDWNDQ
NHFHSDWDQ GDODP PHODNXNDQ XMLFRED SURJUDP VHKLQJJD PHPEDZD
LPSOLNDVL WHUKDGDS EDQ\DNQ\D SURJUDP \DQJ ELVD GLXMLFRED ROHK PDKDVLVZDGDQZDNWXSUDNWHNDNDQVHPDNLQHILVLHQ'HQJDQVHPDNLQ
EDQ\DNPDKDVLVZDELVDPHODNXNDQSHUFREDDQGLKDUDSNDQDNDQGDSDW PHQLQJNDWNDQ NRPSHWHQVL PDKDVLVZD SDGD PDWD NXOLDK SUDNWLN
PLNURSURVHVRU
% 5XPXVDQ0DVDODK
%HUGDVDU XUDLDQ GL DWDV JXQD PHQMDZDE SHUPDVDODKDQ LQL
PDND GLUXPXVNDQ SHUPDVDODKDQ VHEDJDL EHULNXW EDJDLPDQDNDK
FDUD PHQHUDSNDQ PHGLD SHPEHODMDUDQ ´= 6LPXODWRUµ XQWXN PHQLQJNDWNDQ SHQFDSDLDQ NRPSHWHQVL PDKDVLVZD SDGD PDWD NXOLDK
SUDNWLN PLNURSURVHVRU" EHUDSD EHVDUNDK SHQLQJNDWDQ KDVLO EHODMDU PDKDVLVZD SDGD PDWD NXOLDK SUDNWLN PLNURSURVHVRU GHQJDQ PHPDQIDDWNDQPHGLD´=6LPXODWRUµ"
& 7XMXDQ.HJLDWDQ3HQHOLWLDQ
7XMXDQ SHQHOLWLDQ LQL DGDODK XQWXN PHPSHUROHK SHUDQJNDW
SHPEHODMDUDQ PDWD NXOLDK SUDNWLN PLNURSURVHVRU \DLWX PRGXO GDQ ODEVKHHW SUDNWLNXP ODERUDWRULXP \DQJ GLVHVXDLNDQ GHQJDQ PHGLD
´= 6LPXODWRUµ SHQLQJNDWDQ SHQFDSDLDQ NRPSHWHQVL PDKDVLVZD
SDGD PDWD NXOLDK SUDNWLN PLNURSURVHVRU \DQJ GLLQGLNDVLNDQ GHQJDQ SURVHQWDVH SHQFDSDLDQ KDVLO EHODMDUNHOXOXVDQ GDQ GLVWULEXVL
