PT TRIDOMAIN PERFORMANCE MATERIALS Tbk DAN ENTITAS ANAK/AND SUBSIDIARIES

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PT TRIDOMAIN PERFORMANCE MATERIALS Tbk DAN ENTITAS ANAK/AND SUBSIDIARIES

Laporan Keuangan Konsolidasian Interim Pada Tanggal 30 Juni 2020

Dan Untuk Periode Enam Bulan Yang Berakhir Pada Tanggal Tersebut

Interim Consolidated Financial Statements As of June 30, 2020

And For The Six Months Period Then Ended

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DAFTAR ISI/ TABLE OF CONTENTS

Halaman/

Pages

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Surat Pernyataan Direksi tentang Tanggung Jawab atas Laporan Keuangan Konsolidasian Interim PT Tridomain Performance Materials Tbk dan Entitas Anak untuk Periode Enam Bulan yang Berakhir Pada Tanggal 30 Juni 2020/

Directors’ Statement Letter to the Responsibility for Interim Consolidated Financial Statements of PT Tridomain Performance Materials Tbk and Subsidiaries for The Six Months Period Ended June 30, 2020

Laporan Keuangan Konsolidasian Interim – Untuk periode enam bulan yang berakhir pada tanggal 30 Juni 2020/

Interim Consolidated Financial Statements – For the six months period ended June 30, 2020

Laporan Posisi Keuangan Konsolidasian Interim/Interim Consolidated Statements of Financial Position 1 - 3 Laporan Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian Interim/Interim Consolidated Statements

of Profit or Loss and Other Comprehensive Income 4 - 5

Laporan Perubahan Ekuitas Konsolidasian Interim/Interim Consolidated Statements of Changes in Equity... 6 Laporan Arus Kas Konsolidasian Interim/Interim Consolidated Statements of Cash Flows ... - 7 Catatan atas Laporan Keuangan Konsolidasian Interim/ Notes to the Interim Consolidated

Financial Statements 8 - 107

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Catatan/ June 30, December 31,

Notes 2020 2019

ASET ASSETS

ASET LANCAR CURRENT ASSETS

Kas dan bank 2,5,39,42 3,304,300 21,367,658 Cash and banks

Piutang usaha 2,6,39 Trade receivables

Pihak ketiga 96,813,260 96,168,664 Third parties

Pihak berelasi 7 21,006,613 19,591,980 Related parties

Piutang non-usaha 2,8,39,42 Non-trade receivables

Persediaan - neto 2,9 16,292,048 12,167,544 Inventories - net

Uang muka kepada pemasok 2,10 28,157,204 11,229,957 Advances to suppliers

Biaya dibayar di muka 2,11 1,145,352 708,871 Prepaid expenses

Pajak dibayar di muka 2,19a 2,382,504 3,191,274 Prepaid taxes

Aset lancar lainnya 2,14,39,42 4,205,472 4,876,991 Other current assets

TOTAL ASET LANCAR 214,957,612 220,656,192 TOTAL CURRENT ASSETS

ASET TIDAK LANCAR NON-CURRENT ASSETS

Piutang non-usaha 2,8,39,42 Non-trade receivables

Aset tetap - neto 2,12 100,523,426 101,816,696 Fixed assets - net

Aset tak berwujud - neto 2,13 2,766,668 933,333 Intangible assets - net

Uang muka pembelian 2,15 13,496,017 5,823,004 Advance for purchases

Investasi entitas asosiasi 2 250,000 250,000 Investment in associate

Uang jaminan 2,39 171,699 174,572 Refundable deposits

Aset pajak tangguhan 2,19e 102,171 95,199 Deferred tax assets

Taksiran tagihan pajak Estimated claim

penghasilan 2,19b 1,705,212 1,703,749 for income tax refunds

Aset tidak lancar lainnya 2 900,253 931,930 Other non-current assets

TOTAL ASET TOTAL NON-CURRENT

TIDAK LANCAR 144,187,080 135,629,572 ASSETS

TOTAL ASET 359,144,692 356,285,764 TOTAL ASSETS

Catatan atas laporan keuangan konsolidasian interim terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan

The accompanying notes to the interim consolidated financial statements form an integral part of these interim consolidated financial

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Notes 2020 2019

LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS CURRENT

JANGKA PENDEK LIABILITIES

Utang bank jangka pendek 2,20,39,40,42 36,107,271 39,730,237 Short-term bank loans

Utang usaha 2,16,39,42 Trade payables

Utang non-usaha 2,17,39,40,42 Non-trade payables

Pihak ketiga 284,543 571,911 Third parties

Pihak berelasi 7 5,690 260,781 Related parties

Beban akrual 2,18,39,42 6,467,702 5,126,418 Accrued expenses

Utang pajak 2,19c 16,911,647 14,288,750 Taxes payable

Uang muka pelanggan 2,42 346,596 169,285 Advances from customers

Utang jangka panjang 2,39,40,42

yang jatuh tempo Current maturities of

dalam satu tahun long-term loans

Surat utang 2.23,39,40,42 48,019,522 - Notes payable

Utang bank 20 1,998,936 2,682,875 Bank loans

Pembiayaan konsumen 21 134,404 159,216 Consumer financing

Liabilitas sewa 22 338,412 - Lease liabilities

TOTAL LIABILITAS JANGKA PENDEK 123,969,395 75,353,612 TOTAL CURRENT LIABILITIES

LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES Utang jangka panjang 2,39,40,42

setelah dikurangi bagian Long-term loans -

yang jatuh tempo net of current

dalam satu tahun maturities portion

Utang bank 20 1,919,141 2,187,513 Bank loans

Pembiayaan konsumen 21 183,702 189,632 Consumer financing

Liabilitas sewa 22 279,553 - Lease liabilities

Surat utang - neto 2,23,39,40,42 17,204,632 66,183,812 Notes payable - net

Utang obligasi 2,24,39,40,42 33,519,720 34,383,996 Bonds payable

Liabilitas imbalan kerja Employee benefit

karyawan 2,38 4,724,731 6,327,151 liability

Liabilitas pajak tangguhan 2,19e 11,893,750 13,204,797 Deferred tax liabilities

TOTAL LIABILITAS TOTAL NON-CURRENT

JANGKA PANJANG 69,725,229 122,476,901 LIABILITIES

TOTAL LIABILITAS 193,694,624 197,830,513 TOTAL LIABILITIES

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Notes 2020 2019

EKUITAS EQUITY

Modal saham - nilai nominal Share capital - par value of

Rp100 (dalam jumlah penuh) Rp100 (in full amount)

per saham per share

Modal dasar - Authorized capital -

34.729.402.000lembar saham 34,729,402,000 shares

pada 30 Juni 2020 dan as of June 30, 2020 and

31 Desember 2019 December 31,2019

Modal ditempatkan dan Issued and fully

disetor penuh - paid in capital -

10.485.050.500 lembar saham 10,485,050,500 shares

pada 30 Juni 2020 dan as of June 30, 2020 and

31 Desember 2019 2,26 105,489,193 105,489,193 December 31, 2019 Tambahan modal disetor 27 9,963,243 9,963,243 Additional paid-in capital

Saldo laba 43,808,812 37,913,682 Retained earnings

Other comprehensive

Laba (rugi) komprehensif lain 193,999 (1,023,926) income (loss)

Ekuitas yang dapat diatribusikan Equity attributable to owners

kepada pemilik enititas Induk 159,455,247 152,342,192 of the parent entity Kepentingan non-pengendali 25 5,994,821 6,113,059 Non-controlling interest

TOTAL EKUITAS 165,450,068 158,455,251 TOTAL EQUITY

TOTAL LIABILITAS DAN TOTAL LIABILITIES

EKUITAS 359,144,692 356,285,764 AND EQUITY

konsolidasian interim secara keseluruhan.

statements taken as whole.

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Catatan/

Notes 2020 2019

PENJUALAN 2,29 110,668,599 152,413,304 SALES

BEBAN POKOK PENJUALAN 2,30,31 (89,051,055 ) (129,465,443) COST OF GOOD SOLD

LABA BRUTO 21,617,544 22,947,861 GROSS PROFIT

Beban penjualan 2,32 (2,269,828) (2,864,639) Selling expenses

Beban umum dan General and

administrasi 2,33 (2,782,929) (3,123,368) administrative expenses

Beban lain-lain-neto 2,34 (3,728,993) (204,059) Other expense-net

LABA USAHA 12,835,794 16,755,795 INCOME FROM OPERATIONS

Penghasilan keuangan 2,35 1,546,003 1,443,969 Finance income

Beban keuangan 2,36 (7,728,431) (5,962,309) Finance cost

LABA SEBELUM BEBAN INCOME BEFORE

PAJAK PENGHASILAN 6,653,366 12,237,455 INCOME TAX EXPENSES Beban pajak penghasilan 2,19d (620,669) (3,918,326) Income tax expenses

LABA BERSIH PERIODE NET INCOME FOR

BERJALAN 6,032,697 8,319,129 THE PERIOD

PENGHASILAN OTHER COMPREHENSIVE

KOMPREHENSIF LAIN INCOME

Pos yang tidak akan Item that will not

direklasifikasi ke be reclassified

laba rugi: to profit or loss:

Pengukuran kembali Remeasurements of

liabilitas imbalan pasca employee benefit

kerja 2,39 1,595,902 (389,117) liability

Pajak penghasilan terkait 2,19e (351,098) 97,279 Related income tax

TOTAL PENGHASILAN TOTAL OTHER

KOMPREHENSIF LAIN COMPREHENSIVE

1,244,804 (291,838) INCOME

LABA KOMPREHENSIF COMPREHENSIVE

PERIODE BERJALAN 7,277,501 8,027,291 INCOME FOR THE PERIOD

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30 Juni/ June 30,

Catatan/

Notes 2020 2019

Laba bersih periode berjalan yang Net income for the

dapat diatribusikan kepada: current period attributable to:

Pemilik entitas induk 6,162,988 8,028,259 Owners of parent entity Kepentingan non-pengendali (130,291) 290,870 Non-controlling interest

LABA BERSIH PERIODE NET INCOME FOR THE

BERJALAN 6,032,697 8,319,129 PERIOD

Laba komprehensif periode

berjalan yang dapat Comprehensive income for the

diatribusikan kepada: current period attributable to:

Pemilik entitas induk 7,380,913 7,739,884 Owners of parent entity Kepentingan non-pengendali 25 (103,412) 287,407 Non-controlling interests

LABA KOMPREHENSIF COMPREHENSIVE

PERIODE BERJALAN 7,277,501 8,027,291 INCOME FOR THE PERIOD

LABA PER SAHAM - EARNINGS PER SHARE -

DASAR DAN DILUSI 43 0.000588 0,000766 BASIC AND DILUTED

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Modal Saham Ditempatkan dan Disetor

Saldo Laba/

Retained Earnings Penghasilan

Ekuitas yang dapat Diatribusikan Penuh/

Share Capital Issued and Fully Paid-in

Capital

Tambahan Modal Disetor/

Additional Paid-in Capital

Ditentukan Penggunaannya/

Appropriated

Belum Ditentukan Penggunaannya/

Unappropriated

Komprehensif Lainnya/

Other Comprehensive

Income

Kepada Entitas Induk/

Equity Attributable to

Parent Entity

Kepentingan Non-pengendali/

Non-controlling Interests

Total Ekuitas/

Total Equity

Saldo 1 Januari 2019 105,489,193 9,963,243 - 22,282,632 (709,683 ) 137,025,385 5,999,645 143,025,030 Balance January 1, 2019

Dividen - - - (300,000 ) (300,000 ) Dividend

Laba periode berjalan - - - 8,028,259 - 8,028,259 290,870 8,319,129 Income for the current period

Penghasilan komprehensif lain - - - - (288,375 ) (288,375 ) (3,463 ) (291,838 )

Other comprehensive income

Saldo 30 Juni 2019 105,489,193 9,963,243 - 30,310,891 (998,058 ) 144,765,269 5,987,052 150,752,321 Balance June 30, 2019

Saldo 31 Desember 2019 105,489,193 9,963,243 37,913,682 (1,023,926 ) 152,342,192 6,113,059 158,455,251 Balance December 31, 2019

Dampak penerapan Impact initial application of

Standar akuntansi baru: new accounting standards:

- PSAK 71 - - - (222,625 ) - (222,625 ) (7,568 ) (230,193 ) SFAS 71 -

- PSAK 72 - - - (45,233 ) - (45,233 ) (7,258 ) (52,491 ) SFAS 72 -

Saldo 1 Januari 2020 105,489,193 9,963,243 37,645,824 (1,023,926 ) 152,074,334 6,098,233 158,172,567 Balance January 1, 2020

Laba periode berjalan - - 6,162,988 - 6,162,988 (130,291 ) 6,032,697 Income for the current period

Penghasilan komprehensif lain - - - - 1,217,925 1,217,925 26,879 1,244,804

Other comprehensive income

Saldo 30 Juni 2020 105,489,193 9,963,243 - 43,808,812 193,999 159,455,247 5,994,821 165,450,068 Balance June 30, 2020

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Catatan/

Notes

30 Juni/

June 30, 2020

30 Juni/

June 30, 2019

ARUS KAS DARI AKTIVAS

OPERASI CASH FLOWS FROM

OPERATING ACTIVITIES Penerimaan kas dari pelanggan 108,786,681 131,868,737 Cash receipt from customers Pembayaran kas kepada pemasok

dan karyawan (115,343,304 ) (121,402,438 )

Cash paid to suppliers and employees Penerimaan dari pendapatan bunga 1,546,003 1,443,969 Receipt from interest income

Pembayaran pajak penghasilan (646,713 ) (1,142,053 ) Payment of income tax

Pembayaran beban keuangan (7,728,431 ) (6,514,428 ) Payment of finance expenses

Kas Neto Diperoleh dari (Digunakan untuk) Aktivitas Operasi

(13,385,764 ) 4,253,787

Net Cash Provided by (Used in) Operating Activities

ARUS KAS DARI AKTIVITAS

INVESTASI CASH FLOWS FROM

INVESTING ACTIVITIES Penempatan (pencairan) uang

jaminan 671,519 3,141,716 Placement (redemption) of security

deposit

Perolehan aset tetap 12,42 (18,761 ) (98,151 ) Acquisitions of fixed assets

Penerimaan kas dari pelepasan

aset tetap 3,031 - Proceeds from disposal of fixed asset

Kas Neto Diperoleh dari (Digunakan untuk) Aktivitas Investasi

655,789 (3,043,565 )

Net Cash Provided By (Used in) Investing Activities

ARUS KAS DARI AKTIVITAS

PENDANAAN CASH FLOWS FROM

FINANCING ACTIVITIES Penerimaan dari pinjaman jangka

pendek 20 33,316,696 67,507,304 Receipt from short-term loans

Pembayaran pinjaman jangka pendek 20 (36,939,662 ) (82,781,619 ) Payment of short-term loans

Pembayaran utang bank 20 (952,311 ) (2,043,511 ) Payment of bank loans

Penempatan pinjaman pihak berelasi (255,091 ) (5,137,788 ) Placement of loan to related parties Pembayaran dari pinjaman pihak

ketiga

(287,368 ) - Payment from loan to third parties Pembayaran utang pembiayaan

konsumen (79,495 ) (85,490 )

Payments of consumer financing liabillities

Pembayaran liabilitas sewa (136,152 ) - Payment of lease liabilities

Penerimaan dari surat utang obligasi - 34,983,397 Receipt from bonds payable

Kas Neto Diperoleh dari (Digunakan untuk) Aktivitas Pendanaan

(5,333,383 ) 12,442,293

Net Cash Provided By (Used in) Financing Activities

PENURUNAN NETO KAS DAN

SETARA KAS (18,063,358 ) 19,739,645

NET DECREASE IN CASH AND CASH EQUIVALENTS

KAS DAN SETARA KAS AWAL PERIODE

21,367,658 4,535,432

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD

KAS DAN SETARA KAS AKHIR

PERIODE

3,304,300 24,275,077

CASH AND CASH EQUIVALENTS AT END OF THE PERIOD

konsolidasian interim secara keseluruhan.

The accompanying notes to the interim consolidated financial statements form an integral part of these interim consolidated financial statements

taken as whole.

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Pendirian dan Informasi Umum Establishment and General Information PT Tridomain Performance Materials Tbk ("TDPM")

didirikan pada tanggal 16 Desember 2003 di bawah kerangka Undang-Undang Penanaman Modal Asing No. 1 Tahun 1967 (sebagaimana telah diubah dengan Undang-Undang No. 11 Tahun 1970) berdasarkan Akta Notaris No. 51 oleh Veronica Nataadmadja, S.H., Notaris di Jakarta. Akta pendirian ini disetujui oleh Menteri Kehakiman dan Hak Asasi Manusia Republik

Indonesia dalam Surat Keputusan No. C-29581HT.01.01.TH.2003 tanggal 19 Desember 2003.

PT Tridomain Performance Materials Tbk ("TDPM”) was established on December 16, 2003 under the framework of the Foreign Capital Investment Law No. 1 Year 1967 (as amended by Law No. 11 Year 1970) based on the Notarial Deed No. 51 of Veronica Nataadmadja, S.H., Notary in Jakarta. The deed of establishment was approved by the Minister of Justice and Human Rights of the Republic of Indonesia in its decision letter No. C-29581HT.01.01.TH.2003 dated December 19, 2003.

Anggaran dasar TDPM telah disesuaikan dengan Undang-Undang No. 40 Tahun 2007 tentang Perseroan Terbatas, yang diaktakan berdasarkan Akta Notaris No. 22 tanggal 19 Februari 2008 dari Veronica Nataadmadja, S.H., Notaris di Jakarta.

Perubahan tersebut telah memperoleh persetujuan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No.

AHU-12073.AH.01.02. Tahun 2008 tanggal 11 Maret 2008 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 47, Tambahan No. 8493, serta telah di catat dalam database Sisminbakum Departemen Hukum dan Hak Asasi

Manusia Republik Indonesia

No. AHU-AH.01.10-7035 tanggal 26 Maret 2008.

TDPM’s articles of association was amended to comply with Law No. 40 Year 2007 regarding Limited Liability Company, which amendment was notarized based on Notarial Deed No. 22 dated February 19, 2008 from Veronica Nataadmadja, S.H., Notary in Jakarta. The amendment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia through its Decision Letter No. AHU-12073.AH.01.02. Year 2008 dated March 11, 2008 and has been published in the State Gazette No. 47, Supplement No. 8493, and also have been registered in database Sisminbakum the Ministry of Law and Human Rights ofthe Republic of Indonesia No. AHU-AH.01.10-7035 dated March 26, 2008.

Anggaran dasar TDPM diubah kembali berdasarkan Akta Notaris Jose Dima Satria, S.H., M.Kn., No. 192 tanggal 17 Oktober 2016, antara lain, mengenai perubahan nama Perusahaan dari PT Royal Chemie Indonesia menjadi PT Tridomain Performance Materials. Akta Perubahan tersebut telah memperoleh persetujuan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-0019232.AH.01.02. Tahun 2016 tanggal 19 Oktober 2016.

TDPM’s article of association was amended based on Notarial Deed Jose Dima Satria, S.H., M.Kn., No. 192 dated October 17, 2016, among others, regarding Change of Company’s name from PT Royal Chemie Indonesia to become PT Tridomain Performance Materials. The amendment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia through its Decision Letter No. AHU-0019232.AH.01.02. Year 2016 dated October 19, 2016.

Perubahan terakhir anggaran dasar TDPM berdasarkan Akta Notaris dari Buntario Tigris, S.H., S.E., M.H., No. 10 tanggal 1 Agustus 2019, Pemegang Saham menyetujui keputusan perubahan anggaran dasar tersebut, dengan rincian sebagai berikut:

The latest amendment of TDPM's articles of association was based on Notarial Deed from Buntario Tigris, S.H., S.E., M.H., No. 10 dated August 1, 2019, The Shareholders agreed to change such article of association as follows:

1. Menyetujui Perubahan Pasal 3, Anggaran Dasar Perusahaan mengenai Maksud dan Tujuan serta kegiatan usaha Perusahaan sehubungan dengan penambahan kegiatan usaha Perusahaan;

1. Agreed to Change to Article 3, The Company’s Article Association regarding the Intention and Objectives as well as the business activities of the Company with respect to the addition of the business activities of the Company;

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Pendirian dan Informasi Umum (lanjutan) Establishment and General Information (continued)

2. Memberikan kuasa dan wewenang kepada Direksi TDPM untuk melakukan segala tindakan yang diperlukan berkaitan dengan penambahan atau perubahan ketentuan pasal 3 Anggaran Dasar mengenai Maksud dan tujuan.

2. Gives power and authority to the Board of Directors of TDPM to take all necessary actions related to the addition or amendment to the provisions of article 3 of the Articles of Association concerning Purpose and Objectives.

Perubahan tersebut telah disetujui oleh Menteri Hukum dan Hak Asasi Manusia berdasarkan Keputusan Menteri Hukum dan Hak Asasi Manusia Republik Indonesia No. AHU-0051048.AH.01.02.

TAHUN 2019 tertanggal 14 Agustus 2019.

Such changes have been approved by Minister of Law and Human Rights based on Decision from Minister of Law and Human Rights of Republic of Indonesia No. AHU-0051048.AH.01.02. YEAR 2019 dated August 14, 2019.

Berdasarkan Pasal 3 anggaran dasar TDPM, ruang lingkup kegiatan utama TDPM meliputi pemberian jasa konsultasi pengembangan bisnis dan manajemen serta perdagangan umum. Saat ini kegiatan utama TDPM adalah melakukan penyertaan modal dalam perusahaan lain. TDPM memulai operasi komersial pada tanggal 23 Desember 2003.

According to Article 3 of TDPM's articles of association, the scope of activities of TDPM comprises providing of consulting services for business development and management as well as general trading. Currently, TDPM's principal activity comprises equity participation in other companies.

TDPM started its commercial operations on December 23, 2003.

TDPM berdomisili di Jakarta dan kantor pusat berlokasi di Gedung Mayapada Tower II, lantai 8, Jalan Jendral Sudirman, Kavling 27, Jakarta, Indonesia.

TDPM is domiciled in Jakarta and its head office is located at Mayapada Building Tower II, 8th floor, Jendral Sudirman Street, Lot 27, Jakarta, Indonesia.

Entitas Induk langsung TDPM adalah DH Corporation Ltd. (“DHCL”), sebuah entitas yang beroperasi di Seychelles.

The immediate Parent Entity of TDPM is DH Corporation Ltd. (“DHCL”), an entity incorporated in Seychelles.

Entitas Induk terakhir adalah Pandita Industries Limited ("PIL"), sebuah entitas yang beroperasi di Cayman Islands.

The Ultimate Parent Entity of TDPM is Pandita Industries Limited ("PIL"), an entity incorporated in Cayman Islands.

Penawaran Umum Perdana Saham TDPM Initial Public Offering of TDPM’s Shares Dalam rangka memenuhi Undang-undang Republik

Indonesia No. 8 Tahun 1995 tentang Pasar Modal, TDPM telah menyampaikan Pernyataan Pendaftaran kepada Otoritas Jasa Keuangan (“OJK”) dan telah dinyatakan efektif berdasarkan Surat Pemberitahuan Efektifnya Pernyataan Pendaftaran No. S-21/D.04/2018 tanggal 27 Maret 2018.

To conform with the Republic of Indonesian Law No. 8 Year 1995 regarding Capital Market, TDPM has submitted a Registration Statement to the Financial Services Authority (“OJK”) and it has been declared effective by virtue of the Letter of Notice No. S-21/D.04/2018 dated March 27, 2018.

TDPM menyampaikan Pernyataan Pendaftaran kepada OJK dalam rangka Penawaran Umum

Saham Perdana melalui Surat

No. 002/TPM/V/201 tanggal 9 Januari 2018 dan perubahan dan/atau tambahan informasi terakhir yang disampaikan melalui Surat No. 013/TPM/III/2018 tanggal 23 Maret 2018.

TDPM submited Registration Statement to OJK in the framework of the Initial Public Offering through Letter No. 002/TPM/V/201 dated January 9, 2018 and the latest amendment and/or additional information submitted through Letter No. 013/TPM/III/2018 dated March 23, 2018.

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Penawaran Umum Perdana Saham TDPM (lanjutan)

Initial Public Offering of TDPM’s Shares (continued)

Pada tanggal 27 Maret 2018, TDPM memperoleh Surat No. S-21/D.04/2018 perihal Pemberitahuan Efektifnya Pernyataan Pendaftaran dari Dewan Komisioner OJK. Dengan demikian, TDPM wajib tunduk pada peraturan pasar modal yang berlaku.

On March 27, 2018, TDPM obtained Letter No. S-21/D.04/2018 regarding the Notice of Effectiveness of Registration Statement from Board of Commissioner OJK. Therefore, TDPM shall be subject to applicable capital market regulations.

TDPM melakukan Penawaran Umum Perdana Saham sebanyak 1.802.700.000 (satu miliar delapan ratus dua juta tujuh ratus ribu) Saham Biasa Atas Nama atau sebanyak 17,193% (tujuh belas koma satu sembilan tiga persen) dari jumlah seluruh modal ditempatkan dan disetor penuh setelah Penawaran Umum Perdana Saham TDPM dengan nilai nominal Rp100 (seratus Rupiah) per lembar saham yang akan ditawarkan dengan harga Rp228 (dua ratus dua puluh delapan Rupiah).

TDPM conducted Initial Public Offering of 1,802,700,000 (one billion eight hundred two million seven hundred thousand) Ordinary Shares on Behalf or as much as 17.193% (seventeen point one nine three percent) of total issued and paid up capital after TDPM's Initial Public Offering at a nominal value of Rp100 (one hundred Rupiah) per share to be offered at a price of Rp228 (two hundred twenty eight Rupiah).

Pada tanggal 27 Maret 2018, OJK menerbitkan Keputusan Dewan Komisioner OJK berdasarkan Keputusan No. KEP-11/D.04/2018 tentang Penetapan Saham TDPM sebagai Efek Syariah.

On March 27, 2018, OJK issued the Decision of the OJK Commissioner Board based on the Decision No. KEP-11/D.04/2018 concerning Stipulation of Shares of TDPM as Sharia Securities.

Dengan demikian, efek tersebut masuk ke dalam Daftar Efek Syariah sebagaimana keputusan Dewan Komisioner OJK No. KEP-59/D.04/2017 tanggal 1 Desember 2017.

Thus, such securities are included in the List of Sharia Securities as stipulated by the Board of Commissioners of OJK No. KEP-59/D.04/2017 dated December 1, 2017.

Penawaran umum Obligasi TDPM Initial Public Offering of Bonds TDPM Pada tanggal 2 Januari 2019, TDPM menerbitkan

obligasi tanpa jaminan Obligasi I Tridomain Perfomance Materials Tahun 2018 (“Obligasi I”) dengan nominal Rp100.000.000.000. Jangka waktu Obligasi I adalah selama 3 tahun dengan tingkat suku bunga sebesar 10,50% per tahun dibayarkan setiap 3 bulan dan pembayaran obligasi akan dilakukan secara penuh (bullet payment) pada saat jatuh tempo pada tanggal 8 Januari 2022.

On January 2, 2019, TDPM issued Bonds I Tridomain Performance Materials 2018 (“Bond I”) amounting to Rp100,000,000,000. The tenor of the Bonds I is for 3 years with an interest rate of 10.50%

per year payable every 3 months and payment of bonds will be made in full (bullet payment) when due on January 8, 2022.

Pada tanggal 28 Juni 2019, TDPM menerbitkan obligasi tanpa jaminan Obligasi II Tridomain Perfomance Materials Tahun 2019 (“Obligasi II”) dengan nominal Rp400.000.000.000. Jangka waktu Obligasi II adalah selama 3 tahun dengan tingkat suku bunga sebesar 10,75% per tahun dibayarkan setiap 3 bulan dan pembayaran obligasi akan dilakukan secara penuh (bullet payment) pada saat jatuh tempo pada tanggal 28 Juni 2022.

On June 28, 2019, TDPM issued Bonds II Tridomain Performance Materials 2019 (“Bond II”) amounting to Rp400,000,000,000. The tenor of the Bonds II is for 3 years with an interest rate of 10.75%

per year payable every 3 months and payment of bonds will be made in full (bullet payment) when due on June 28, 2022.

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Struktur Entitas Anak yang Dikonsolidasi Structure of the Consolidated Subsidiaries Laporan keuangan konsolidasian interim mencakup

akun-akun TDPM dan Entitas Anak (bersama-sama disebut “Grup”), dimana TDPM mempunyai kepemilikan langsung hak suara Entitas Anak lebih dari 50,00%, sebagai berikut:

The interim consolidated financial statements include the accounts of TDPM and Subsidiaries (together as the “Group”), wherein TDPM has direct ownership of more than 50.00% of the voting rights, as follows:

Mulai Beroperasi Secara Komersil/

Start of Commercial

Operations

Persentase Kepemilikan/

Percentage of Ownership (%)

Total Aset Sebelum Dieliminasi (dalam Ribuan Dolar AS)/

Total Assets Before Elimination (on Thousand US Dollar) 30 Juni/ 31 Desember/

Entitas Anak/ Bidang Usaha/ Domisili/ June, 30 December, 31

Subsidiaries Principal activity Domicile 2020 2019

Kepemilikan langsung/

Direct Ownership

PT Eternal Buana Chemical Industries (“EBCI”)

Produksi Synthetic Resin dan FAME/

Resin Synthetic and FAME manufacturer

Tangerang,

Indonesia 1982 99.20 125,760 130,187

PT Eterindo Nusa Graha (“ENG”)

Produksi Plasticizers Synthetic Resin

dan FAME/

Plasticizer, Synthetic Resin

and FAME manufacturer

Gresik,

Indonesia 1997 95.50 127,444 128,997

PT Tridomain Chemicals (“TDC”)

Produksi Acrylamide Monomer Liquid/

Acrylamide Monomer Liquid

Manufacturer

Cilegon,

Indonesia 1996 92.88 34,244 36,393

PT Petronika (“PNK”)

Produksi Dioctyl Phthalate (“DOP”)/ Dioctyl

Phthalate manufacturer

Gresik,

Indonesia 1984 80.00 34,504 38,563

PT Eternal Buana Chemical Industries (“EBCI”) PT Eternal Buana Chemical Industries (“EBCI”) EBCI didirikan pada bulan April 1979. Pada tanggal

23 Desember 2003, TDPM membeli 3.802.753 saham (mewakili kepemilikan 68,48%) di EBCI dari Royal Petrochemie Corporation Limited ("RPC") pada nilai nominal, atau Rp380.275.300.000. Pada tanggal 27 Agustus 2008, TDPM mengadakan Perjanjian Jual Beli dengan PT Eterindo Wahanatama Tbk ("EW") untuk membeli 1.706.000 (30,72%) saham EBCI yang dimiliki oleh EW dengan harga pembelian Rp108.331.000.000.

EBCI was established in April 1979. On December 23, 2003, TDPM acquired 3,802,753 shares (representing 68.48% ownership interest) in EBCI from Royal Petrochemie Corporation Limited ("RPC”), at par value or Rp380,275,300,000. On August 27, 2008, TDPM entered into a Sale and Purchase agreement with PT Eterindo Wahanatama Tbk ("EW”) to buy 1,706,000 (30.72%) EBCl's shares owned by EW for a purchase price of Rp108,331,000,000.

PT Eterindo Nusa Graha (“ENG”) PT Eterindo Nusa Graha (“ENG”) ENG didirikan pada bulan Mei 1993. Efektif pada

tanggal 22 Desember 2003, TDPM mengakuisisi 487.137 saham (mewakili kepemilikan 95,50%) di ENG dari RPC pada nilai nominal atau Rp487.137.000.000.

ENG was established in May 1993. Effective on December 22, 2003, TDPM acquired 487,137 shares (representing 95.50% ownership interest) in ENG from RPC at par value or Rp487,137,000,000.

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Struktur Entitas Anak yang Dikonsolidasi (lanjutan)

Structure of the Consolidated Subsidiaries (continued)

PT Tridomain Chemicals (“TDC”) PT Tridomain Chemicals (“TDC”) TDC didirikan pada tahun 1996. Pada tanggal

18 Desember 2014, TDPM mengadakan Perjanjian Jual Beli dengan Tridomain Acres Sdn. Bhd. ("TAS") untuk membeli 5.573 (92,88%) saham TDC yang dimiliki TAS dengan harga pembelian AS$15.000.000 (Catatan 4 dan 27).

TDC was established in 1996. On December 18, 2014, TDPM entered into a Sale and Purchase Agreement with Tridomain Acres Sdn.

Bhd. (“TAS”) to buy 5,573 (92.88%) of TDC's shares owned by TAS with a purchase price of US$15,000,000 (Note 4 and 27).

PT Petronika (“PNK”) PT Petronika (“PNK”)

PNK didirikan pada tahun 1983. Pada tanggal 20 Desember 2016, TDPM melakukan deklarasi atas 80,00% kepemilikan saham di PNK senilai AS$20.000.000 sejak tahun 2015 melalui partisipasi dalam program pengampunan pajak (Catatan 4 dan 27).

PNK was established in 1983. On December 20, 2016, TDPM declared 80.00%

ownership of PNK with investment value of US$20,000,000 since 2015 through participating in the tax amnesty program (Notes 4 and 27).

Dewan Komisaris, Direksi, dan Karyawan Boards of Commissioners, Directors, and Employees

Berdasarkan akta notaris No. 148 tanggal 31 Agustus 2018 dari Notaris Buntario Tigris, S.H., S.E., M.H., notaris di Jakarta, susunan Dewan Komisaris dan Direksi TDPM pada tanggal 30 Juni 2020 dan 31 Desember 2019 adalah sebagai berikut:

Based on notarial deed No. 148 dated August 31, 2018 of Notary Buntario Tigris, S.H., S.E., M.H., notary in Jakarta, the members of TDPM’s Boards of Commissioners and Directors as of June 30, 2020 and December 31, 2019 are as follows:

Dewan Komisaris Boards of Commissioners

Presiden Komisaris Hadiran Sridjaja President Commissioner

Komisaris Arjun Permanand Samtani Commissioner

Komisaris Independen Ir. Rauf Purnama Independent Commissioner

Dewan Direksi Boards of Directors

Presiden Direktur Choi Choon Ha President Director

Direktur Joyce Venancio Sobejana Onias Director

Direktur Independen Prof. DR. Drs. Bambang Heru Purwanto, M.Si Independent Director Personel Manajemen kunci adalah orang-orang

yang mempunyai kewenangan dan tanggungjawab untuk merencanakan, memimpin dan mengendalikan aktivitas Grup. Seluruh anggota Dewan Komisaris dan Direksi dianggap sebagai manajemen kunci.

Key management personnel are people who have the authority and responsibility to plan, lead and control the activities of the Group. All members of the Boards of Commissioners and Directors are considered as key management.

Gaji dan tunjangan yang diberikan kepada Dewan Komisaris dan Direksi untuk periode enam bulan yang berakhir pada tanggal 30 Juni 2020 dan 2019 masing-masing adalah sebesar AS$803.616 dan AS$1.209.191.

Salaries and benefits provided to the Boards of Commissioners and Directors for the six-months periods ended June 30, 2020 and 2019 amounted to US$803,616 and US$1,209,191, respectively.

Jumlah karyawan pada tanggal

30 Juni 2020 dan 31 Desember 2019 masing-

The numbers of employees as of June 30, 2020 and December 31,2019 were 418 and 421 employees,

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Komite Audit dan Sekretaris Perusahaan Audit Committee and Corporate Secretary Berdasarkan Surat Keputusan Dewan Komisaris

dari TDPM tertanggal 20 Desember 2017, Dewan Komisaris TDPM telah menyatakan, menyetujui dan memutuskan untuk membentuk Komite Audit, serta menunjuk Ketua serta Anggota Komite Audit tersebut, sekaligus memutuskan masa jabatan Ketua dan Anggota Komite Audit tersebut.

Based on Decision Letter from the Board of

Commissioners of TDPM dated

December 20, 2017, TDPM’s Board of Commissioners have declared, agreed and decided to establish Audit Committee, and appoint Chairman and Member of such Audit Committee, as well as decided about the appointment period of respective Chairman and Member of Audit Committee.

Dengan demikian, susunan Komite Audit Perusahaan adalah sebagai berikut:

Therefore, the composition of Corporate’s Audit Committee are as follows:

Ketua Ir. Rauf Purnama Chairman

Anggota Anton Hartono Member

Anggota Ramdani Member

Berdasarkan Surat Keputusan Direksi TDPM tanggal 1 April 2019, TDPM menunjuk Maya Tirani sebagai Sekretaris TDPM.

Based on the Decision letter from the Board of Directors of TDPM dated April 1, 2019, TDPM appointed Maya Tirani as Corporate Secretary.

Persetujuan dan Pengesahan Untuk Penerbitan Laporan Keuangan Konsolidasian Interim

Approval and Authorization for the Issuance of the Interim Consolidated Financial Statements Penerbitan laporan keuangan konsolidasian interim

pada tanggal 30 Juni 2020, telah disetujui dan disahkan untuk diterbitkan oleh Direksi pada tanggal 30 Juli 2020.

The issuance of the interim consolidated financial statements as of June 30, 2020 was approved and authorized by the Directors on July 30, 2020.

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Kebijakan akuntansi yang diterapkan dalam penyusunan laporan keuangan konsolidasian interim untuk periode enam bulan yang berakhir pada tanggal 30 Juni 2020 adalah selaras dengan kebijakan akuntansi yang diterapkan dalam penyusunan laporan keuangan konsolidasian interim Grup untuk tahun yang berakhir pada tanggal 31 Desember 2019.

The accounting policies adopted in the preparation of the interim consolidated financial statements for the six-months period ended June 30, 2020, are consistent with those made in the preparation of the Group’s consolidated financial statements for the year ended December 31, 2019.

Berikut ini adalah kebijakan akuntansi yang signifikan yang diterapkan dalam penyusunan laporan keuangan konsolidasian interim Perusahaan dan Entitas Anak (bersama-sama disebut “Grup”).

Presented below are the significant accounting policies adopted in preparing the interim consolidated financial statements of the Company and Subsidiaries (together as the “Group”).

Dasar Penyusunan dan Penyajian Laporan Keuangan Konsolidasian Interim

Basis of Preparation and Presentation of the Interim Consolidated Financial Statements Laporan keuangan konsolidasian interim telah

disusun dan disajikan sesuai dengan Standar Akuntansi Keuangan di Indonesia (“SAK”), yang mencakup Pernyataan Standar Akuntansi Keuangan (“PSAK”) dan Interpretasi Standar Akuntansi Keuangan (“ISAK”) yang dikeluarkan oleh Dewan Standar Akuntansi Keuangan (“DSAK”) Ikatan Akuntan Indonesia.

The interim consolidated financial statements have been prepared and presented in accordance with Indonesian Financial Accounting Standards (“FAS”), which comprise the Statement of Financial Accounting Standards (“SFAS”) and Interpretations of Statement of Financial Accounting Standard (“IFAS”) issued by the Financial Accounting Standards Board (“FASB”) of the Indonesian Institute of Accountants.

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Dasar Penyusunan dan Penyajian Laporan Keuangan Konsolidasian interim (lanjutan)

Basis of Preparation and Presentation of the Interim Consolidated Financial Statements (continued)

Laporan keuangan konsolidasian interim juga disusun dan disajikan sesuai dengan peraturan BAPEPAM-LK, (yang fungsinya dialihkan kepada Otoritas Jasa Keuangan (”OJK”) sejak tanggal 1 Januari 2013) peraturan No. VIII.G.7 yang merupakan Lampiran Keputusan Ketua BAPEPAM- LK No. KEP-347/BL/2012 tanggal 25 Juni 2012 tentang ”Penyajian dan Pengungkapan Laporan Keuangan Emiten atau Perusahaan Publik”.

The interim consolidated financial statements have also been prepared and presented in accordance with BAPEPAM-LK, (whose function has been transferred to the Financial Services Authority (”OJK”) starting January 1, 2013), rule No. VIII.G.7, Appendix of the Decree of the Chairman of the BAPEPAM-LK No. KEP-347/BL/2012 dated June 25, 2012 regarding ”Presentation and Disclosure of the Issuer's or Public Company's Financial Statements”.

TDPM menerapkan Amandemen PSAK 1 –

“Penyajian Laporan Keuangan tentang Prakarsa Pengungkapan”. Amandemen ini, di antara lain, memberikan klarifikasi terkait penerapan persyaratan materialitas, fleksibilitas urutan sistematis catatan atas laporan keuangan konsolidasian interim dan pengidentifikasian kebijakan akuntansi signifikan. Penerapan Amandemen PSAK 1 tidak memiliki pengaruh signifikan terhadap laporan keuangan konsolidasian interim.

TDPM applies Amendments to SFAS 1 -

“Presentation of Financial Statements: Disclosure Initiatives”. The amendments, among others, provides clarification regarding the application of materiality requirements, the flexibility of the systematical order of the notes to the interim consolidated financial statements, and identification of significant accounting policies. The adoption of Amendments to SFAS 1 has no significant impact on the interim consolidated financial statements.

Laporan keuangan konsolidasian interim telah disusun berdasarkan konsep harga perolehan dan menggunakan dasar akrual kecuali untuk laporan arus kas konsolidasian interim.

The interim consolidated financial statements have been prepared under the historical cost convention and using the accrual basis except for the interim consolidated statements of cash flow.

Laporan arus kas konsolidasian interim disusun menggunakan metode langsung dengan mengklasifikasikan arus kas berdasarkan aktivitas operasi, investasi dan pendanaan.

The interim consolidated statements of cash flows are prepared based on the direct method by classifying cash flows on the basis of operating, investing and financing activities.

TDPM mencatat pembukuannya dalam Dolar Amerika Serikat (“Dolar AS” atau “AS$”) yang telah disetujui oleh Menteri Keuangan melalui Surat Keputusan No. 548/PJ.42/2002.

TDPM maintains its books in US Dollars (“US Dollars” or “US$”) which has been approved by the Ministry of Finance through Decree No. 548/PJ.42/2002.

Penyusunan laporan keuangan konsolidasian interim sesuai dengan Standar Akuntansi Keuangan di Indonesia mengharuskan penggunaan estimasi dan asumsi. Hal tersebut juga mengharuskan manajemen untuk membuat pertimbangan dalam proses penerapan kebijakan akuntansi Grup. Area yang kompleks atau memerlukan tingkat pertimbangan yang lebih tinggi atau area dimana asumsi dan estimasi dapat berdampak signifikan terhadap laporan keuangan konsolidasian interim diungkapkan di Catatan 3.

The preparation of the interim consolidated financial statements in conformity with Indonesian Financial Accounting Standards requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the interim consolidated financial statements are disclosed in Note 3.

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Penerapan atas amandemen PSAK “Investasi pada Entitas Asosiasi dan Ventura Bersama” yang berlaku efektif sejak tanggal 1 Januari 2020, dan relevan bagi TDPM namun tidak menyebabkan perubahan signifikan atas kebijakan akuntansi dan tidak memberikan dampak yang material terhadap jumlah yang dilaporkan di laporan keuangan interim periode berjalan.

The application of the amendment to SFAS 15

“Investment in Associates and Joint Venture”, which are effective from January 1, 2020 and relevant for TDPM, but did not result in substantial changes to accounting policies and had no material effect on the amounts reported for the current period interim financial statements.

Penerapan atas PSAK 71, PSAK 72 dan PSAK 73 Application of SFAS 71, SFAS 72 and SFAS 73 Grup melakukan penerapan atas PSAK 71, PSAK

72, dan PSAK 73 secara efektif untuk tahun buku yang dimulai pada 1 Januari 2020.

The Group has applied SFAS 71, SFAS 72, and SFAS 73 effectively for the financial year beginning January 1, 2020.

Atas penerapan PSAK 71 dan PSAK 72, Grup mengakui efek kumulatif dari penerapan awal standar baru sebagai penyesuaian terhadap saldo awal saldo laba sebagai berikut:

The Group has applied SFAS 71 and SFAS 72 by recognizing the cumulative effect of initially applying the new standards as an adjustment to the beginning balance of retained earnings as follows:

Saldo laba / Retained earnings

Kepentingan non- pengendali/

Non- controlling

interest

Total/

Total

Saldo 31 Desember 2019 37,913,682 6,113,059 44,026,741 Balance December 31, 2019

Penyesuaian saldo atas penerapan awal PSAK 71:

Opening balance adjustment upon initial application of SFAS 71:

Piutang usaha: Trade receivables:

- Kenaikan pada cadangan

penurunan nilai (248,843 ) (9,145 ) (257,988 )

Increase in allowance for - impairment

- Dampak pajak terkait 54,745 2,012 56,757 Related tax impact -

Piutang non-usaha: Non-trade receivables:

- Kenaikan pada cadangan

penurunan nilai (36,379 ) (558 ) (36,937 )

Increase in allowance for - impairment

- Dampak pajak terkait 7,852 123 7,975 Related tax impact -

Penyesuaian saldo atas penerapan awal PSAK 72:

Opening balance adjustment upon initial application of SFAS 72:

Uang muka pelanggan (45,233 ) (7,258 ) (52,491 ) Advance from customers

Saldo 1 Januari 2020 Balance January 1, 2020

setelah penyesuaian

PSAK 71 dan PSAK 72 37,645,824 6,098,233 43,744,057

after adjustment of SFAS 71 and SFAS 72 Atas penerapan PSAK 73 secara efektif untuk tahun

buku yang dimulai pada 1 Januari 2020, Grup tidak menyajikan kembali angka-angka komparatif untuk periode pelaporan sebelumnya.

For application of SFAS 73 effectively for the financial year beginning January 1, 2020, the Group has not restated comparatives for the previous reporting period.

Tabel berikut menunjukkan saldo beberapa pos-pos laporan posisi keuangan konsolidasian interim untuk saldo awal 1 Januari 2020 setelah penerapan PSAK 71, PSAK 72, dan PSAK 73.

The following table shows the balance of several items on interim consolidated statement of financial position for the opening balance January 1, 2020 after the application of SFAS 71, SFAS 72, and SFAS 73.

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Penerapan atas PSAK 71, PSAK 72 dan PSAK 73 (lanjutan)

Application of SFAS 71, SFAS 72 and SFAS 73 (continued)

Saldo 31 Desember 2019/

Balance as of 31 December

2019

Penyesuaian PSAK 71/

Adjustment SFAS 71

Saldo 1 Januari 2020/

Balance as of 1 January 2020

LAPORAN POSISI

KEUANGAN

STATEMENT OF FINANCIAL

POSITION

Piutang usaha 115,760,644 (257,988 ) - - 115,502,656

Trade receivables

Piutang non usaha 75,254,342 (36,937 ) - - 75,217,405

Non-Trade receivables

Aset tetap 101,816,696 - - 851,891 102,668,587 Fixed assets

Aset pajak

tangguhan 95,199 7,582 - - 102,781

Deferred tax assets Pendapatan

ditangguhkan - - 52,491 - 52,491

Unearned revenue

Liabilitas sewa - - - (851,891 ) 851,891 Lease liabilities

Liabilitas pajak

tangguhan 13,204,797 (57,150 ) - - 13,147,647

Deferred tax liabilites Saldo laba belum

ditentukan

penggunaannya 37,913,682 (222,625 ) (45,233 ) - 37,645,824

Unappropriated retained earnings Kepentingan

non-pengendali 6,113,059 (7,568 ) (7,258 ) - 6,098,233

Non-controlling interest

PSAK 71: Instrumen Keuangan SFAS 71: Financial Instruments

Untuk piutang usaha dan piutang non usaha, Grup menerapkan metode yang disederhanakan untuk mengukur kerugian kredit ekspektasian yang disyaratkan oleh PSAK 71 yang mengharuskan penggunaan provisi kerugian ekspektasian seumur hidup untuk semua piutang usaha. Hal tersebut menyebabkan kenaikan provisi atas penurunan nilai piutang usaha dan piutang non usaha sebesar AS$257.988 dan AS$36.937 dengan dampak pajak sebesar AS$56.757 dan AS$7.975 yang diakui sebagai penyesuaian atas saldo laba dan kepentingan non-pengendali pada 1 Januari 2020.

For trade receivables and non-trade receivables, the Group applies the simplified approach to provide for expected credit losses prescribed by SFAS 71 which requires the use of lifetime expected loss provision of all trade receivables.

This increased the provision for impairment of trade receivables and non-trade receivables by US$257,988 and US$36,937 with tax effect amounted to AS$56,757 and AS$7,975 which were recognised as an adjustment to the retained earnings and non-controlling interest as of January 1, 2020.

PSAK 72: Pendapatan dari Kontrak dengan Pelanggan

SFAS 72: Revenue from Contracts with Customers

Penerapan PSAK 72 menghasilkan perubahan kebijakan akuntansi dan penyesuaian terhadap jumlah yang diakui dalam laporan keuangan konsolidasian interim sebagai berikut:

The application of SFAS 72 resulted in changes in accounting policies and adjustments to the amounts recognised in the interim consolidated financial statements as follows:

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Penerapan atas PSAK 71, PSAK 72 dan PSAK 73 (lanjutan)

Application of SFAS 71, SFAS 72 and SFAS 73 (continued)

PSAK 72: Pendapatan dari Kontrak dengan Pelanggan (lanjutan)

SFAS 72: Revenue from Contracts with Customers (continued)

Grup telah mengidentifikasi kontrak penjualan dengan pelanggan berdasarkan pemenuhan kewajiban penyerahan kendali barang kepada pelanggan. Berdasarkan PSAK 72 Pengakuan pendapatan dilakukan pada saat Grup mengalihkan barang yang dijanjikan kepada pelanggan. Indikator bahwa kendali sudah diserahkan adalah pelanggan dapat menentukan penggunaan dari barang yang diperoleh dan pelanggan akan memperoleh manfaat ekonomi atas barang.

The Group has identified from its sales contracts with customers performance obligations, which are the obligation to transfer the control of the goods to the customer. Based on SFAS 72 Revenue recognition is done when the Group transfered the goods promised to the customer. The indicator that control has been handed over is that the customer can determine the use of the goods obtained and the customer will get economic benefits on the goods.

PSAK 73: Sewa SFAS 73: Leases

Pada saat penerapan PSAK 73, Grup mengakui aset hak-guna dan liabilitas sewa sebelumnya yang disajikan dalam PSAK 25, “Sewa”. PSAK 73 memperkenalkan model tunggal pengakuan sewa di neraca untuk akuntansi penyewa. Penyewa mengakui aset hak-guna yang merupakan hak penyewa untuk menggunakan aset yang mendasari perjanjian sewa dan liabilitas sewa yang merupakan kewajiban penyewa untuk melakukan pembayaran sewa. Sifat dari beban-beban yang terkait dengan sewa tersebut telah berubah karena PSAK 73 menggantikan beban sewa operasi yang sebelumnya diakui secara garis lurus, dengan beban penyusutan atas aset hak-guna dan beban bunga atas liabilitas sewa.

On the application of SFAS 73, the Group recognized the previous leasing rights and liabilities presented in SFAS 25, "Lease". SFAS 73 introduces a single model of leasing recognition on the balance sheet for accounting of tenants. The lessee recognizes the leased assets which are the rights of the lessee to use the assets that underlie the lease agreement and the lease liabilities which are the obligations of the lessee to pay the lease.

recognized on a straight-line basis, with depreciation expense on leased assets and interest expense on lease obligations.

Dengan menerapkan standar ini, pada tanggal 1 Januari 2020 terdapat penambahan aset tetap dan liabilitas sewa Grup meningkat masing-masing sebesar AS$851.891.

By applying this standard, as of January 1, 2020 amount increased due to the addition of the Group’s fixed assets and lease liabilities amounted by US$851,891, respectively.

Dalam menerapkan PSAK 73 untuk pertama kalinya, Grup menerapkan cara praktis berikut yang diizinkan oleh standar:

In applying SFAS 73 for the first time, the Group used the following practical approach permitted by the standard:

- tidak melakukan penilaian ulang untuk definisi sewa dalam kontrak yang sebelumnya telah diidentifikasi mengandung sewa.

- do not perform reassessment of lease definition on contract which previously identified as containing lease.

- liabilitas sewa yang lebih dari satu tahun diukur dengan nilai sekarang dari sisa pembayaran sewa, didiskontokan dengan suku bunga inkremental pada tanggal 1 Januari 2020.

- lease liabilities more than one year are measured at the present value of the remaining lease payments, discounted at incremental borrowing rate as of January 1, 2020.