PT SEJAHTERA BINTANG ABADI TEXTILE Tbk DAN ENTITAS ANAK / AND SUBSIDIARY

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PT SEJAHTERA BINTANG ABADI TEXTILE Tbk DAN ENTITAS ANAK / AND SUBSIDIARY

Laporan Keuangan Konsolidasian Interim / Interim Consolidated Financial Statements Pada Tanggal 30 Juni 2021 (Tidak Diaudit) dan 31 Desember 2020 (Diaudit) /

As of June 30, 2021 (Unaudited) and December 31, 2020 (Audited)

Serta Untuk Periode Enam Bulan Yang Berakhir Pada Tanggal Tersebut (Tidak Diaudit) / And For The Six-Month Period Then Ended (Unaudited)

(Mata Uang Indonesia) / (Indonesian Currency)

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Daftar Isi / Table of Contents

Halaman / Pages

Surat Pernyataan Direksi Directors’ Statement Letter

Laporan Posisi Keuangan Konsolidasian Interim 1 - 3 Interim Consolidated Statement of Financial Position Laporan Laba Rugi dan Penghasilan Komprehensif Interim Consolidated Statement of Profit or Loss and Lain Konsolidasian Interim 4 - 5 Other Comprehensive Income

Laporan Perubahan Ekuitas Konsolidasian Interim 6 - 7 Interim Consolidated Statement of Changes in Equity

Laporan Arus Kas Konsolidasian Interim 8 - 9 Interim Consolidated Statement of Cash Flows Catatan atas Laporan Keuangan Konsolidasian Interim 10 - 72 Notes to the Interim Consolidated Financial Statements

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ASET ASSETS

ASET LANCAR CURRENT ASSETS

Kas dan bank 2g,4,31,32 11.889.250.518 8.475.645.906 Cash on hand and in banks Piutang usaha - bersih 2g,5,30,31,32 17.556.192.417 25.473.107.489 Trade receivables - net Piutang lain-lain 2f,2g,6,30,31,32 3.732.341.760 3.843.645.730 Other receivables

Persediaan 2l,7 146.321.248.534 142.271.052.939 Inventories

Uang muka dan biaya dibayar di muka 2n,8 7.497.026.421 6.053.477.282 Advances and prepaid expenses

Pajak dibayar di muka 9a 4.565.226.504 4.965.698.867 Prepaid taxes

Biaya ditangguhkan 10 9.321.013.663 9.217.484.565 Deferred charges

Jumlah Aset Lancar 200.882.299.817 200.300.112.778 Total Current Assets

ASET TIDAK LANCAR NON-CURRENT ASSETS

Uang muka 8 1.491.280.537 19.442.392.409 Advances

Piutang lain-lain 2f,2g,6,30,31,32 99.026.697.851 95.025.614.068 Other receivables

Dana yang dibatasi penggunaannya 2g,2k,11,31,32 922.680.224 253.854.433 Restricted funds Investasi pada saham 2m,12 6.000.000.000 338.810.025 Investment in shares

Aset tetap – bersih 2o,13 241.521.760.882 234.939.481.697 Fixed assets – net Aset pajak tangguhan 2s,9d 13.038.922.079 8.305.532.421 Deferred tax assets

Uang jaminan 2g,14,31,32 660.671.126 660.671.126 Security deposit

Biaya ditangguhkan 10 1.838.212.200 2.067.988.725 Deferred charges

Goodwill 1c,2e 244.606.925 - Goodwill

Jumlah Aset Tidak Lancar 364.744.831.824 361.034.344.904 Total Non-Current Assets

JUMLAH ASET 565.627.131.641 561.334.457.682 TOTAL ASSETS

*) Laporan keuangan pada tanggal 31 Desember 2020 bukan merupakan laporan keuangan konsolidasian karena tidak mencakup laporan keuangan entitas anak.

*) The financial statements as of December 31, 2020 are not consolidated financial statements because do not include the financial statements of the subsidiary.

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Lihat Catatan atas Laporan Keuangan Konsolidasian Interim yang merupakan bagian

yang tidak terpisahkan dari laporan keuangan konsolidasian interim secara keseluruhan See accompanying Notes to the Interim Consolidated Financial Statements which are an integral part of the interim consolidated financial statements.

LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS LIABILITIES

LIABILITAS JANGKA PENDEK CURRENT LIABILITIES

Utang bank jangka pendek 2g,15,31,32 217.233.819.590 219.233.819.590 Short-term bank loans Utang usaha – pihak ketiga 2g,16,31,32 6.000.837.310 6.583.470.001 Trade payables – third parties Utang lain-lain – pihak ketiga 2g,31,32 - 88.075.000 Other payables – third parties

Utang pajak 9b 272.060.773 279.410.170 Taxes payable

Beban masih harus dibayar 2g,17,31,32 51.708.998.487 25.354.525.030 Accrued expenses Liabilitas jangka panjang yang jatuh

tempo dalam satu tahun: Current maturities of

long-term liabilities:

Utang bank 2g,19,31,32 43.571.882.898 43.571.882.898 Bank loans Utang pembiayaan konsumen 2g,20,31,32 2.879.119.783 3.912.690.712 Consumer financing payable Uang muka pelanggan 18 1.461.507.001 1.238.552.612 Advances from customer Jumlah Liabilitas Jangka Pendek 323.128.225.842 300.262.426.013 Total Current Liabilities

LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES

Liabilitas jangka panjang setelah dikurangi bagian yang jatuh tempo

dalam satu tahun: Long-term liabilities

net of current maturities:

Utang bank 2g,19,31,32 78.188.840.549 78.188.840.549 Bank loans Utang pembiayaan konsumen 2g,20,31,32 6.306.207.243 7.164.673.358 Consumer financing payable Liabilitas diestimasi atas imbalan kerja

karyawan 2q,21 1.811.684.000 1.809.054.000

Estimated liabilities for employees’

benefits Jumlah Liabilitas Jangka Panjang 86.306.731.792 87.162.567.907 Total Non-Current

Liabilities JUMLAH LIABILITAS 409.434.957.634 387.424.993.920 TOTAL LIABILITIES

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Lihat Catatan atas Laporan Keuangan Konsolidasian Interim yang merupakan bagian See accompanying Notes to the Interim Consolidated Financial Statements 30 Juni 2021 dan

31 Desember 2020 Modal dasar -

6.000.000.000 saham pada tanggal 30 Juni 2021 dan 31 Desember 2020 Modal ditempatkan

dan disetor penuh -

2.148.904.505 saham pada tanggal 30 Juni 2021 dan 2.125.166.005 saham

pada tanggal 31 Desember 2020 22 42.978.090.100 42.503.320.100

Share capital - Rp 20 par value per share as of

June 30, 2021 and December 31, 2020

Authorized - 6,000,000,000 shares as of June 30, 2021 and

December 31, 2020 Issued and fully paid – 2,148,904,505 as of June 30, 2021

and 2,125,166,005 shares as of December 31, 2020 Tambahan modal disetor 23 85.463.347.519 83.089.497.519 Additional paid-in capital Keuntungan (kerugian) aktuarial atas

imbalan kerja – bersih 160.928.700 125.554.300 Actuarial gain (loss) on employees’ benefits - net Surplus revaluasi – bersih 13 65.156.071.627 66.789.762.208 Revaluation surplus – net

Defisit (37.567.049.849 ) (18.598.670.365 ) Deficits

Jumlah ekuitas yang dapat

diatribusikan kepada pemilik Entitas Induk

156.191.388.097 173.909.463.762

Total equity attributable to the owners of the

Parent Entity

Kepentingan

Non-pengendali

785.910 - Non-controlling Interest

JUMLAH EKUITAS 156.192.174.007 173.909.463.762 TOTAL EQUITY

JUMLAH LIABILITAS DAN EKUITAS

565.627.131.641 561.334.457.682

TOTAL LIABILITIES AND EQUITY

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Lihat Catatan atas Laporan Keuangan Konsolidasian Interim yang merupakan bagian See accompanying Notes to the Interim Consolidated Financial Statements PENJUALAN BERSIH 2r,24 83.805.073.001 91.344.129.167 NET SALES

BEBAN POKOK PENJUALAN 2r,25 (54.947.508.944 ) (71.188.348.763 ) COST OF GOODS SOLD

LABA KOTOR 28.857.564.057 20.155.780.404 GROSS PROFIT

Beban pemasaran 2r,26 - (2.000.000 ) Marketing expenses

Beban umum dan administrasi 2r,26 (30.674.750.428 ) (27.611.497.006 ) General and administrative expenses

LABA (RUGI) USAHA (1.817.186.371 ) (7.457.716.602 ) INCOME (LOSS) FROM OPERATIONS

Beban keuangan 2r,27 (21.099.103.141 ) (16.642.941.027 ) Finance costs Pendapatan lain-lain 2r,28 4.886.816.346 28.924.583.815 Other income Beban lain-lain 2r,28 (7.314.891.272 ) (316.757.830 ) Other expenses

RUGI SEBELUM PAJAK

PENGHASILAN (25.344.364.438 ) 4.507.168.356 LOSSES BEFORE INCOME TAX

MANFAAT (BEBAN) PAJAK

PENGHASILAN TANGGUHAN 2s,9d 4.742.233.258 (4.952.377.100 ) DEFERRED INCOME TAX BENEFIT (EXPENSES)

RUGI BERSIH PERIODE BERJALAN (20.602.131.180 ) (445.208.744 ) NET LOSSES FOR THE PERIOD

PENGHASILAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME Pos yang tidak akan direklasifikasi ke

laba rugi Items that will not be

reclassified to profit or loss Pengukuran kembali liabilitas imbalan

kerja karyawan 2q,21 44.218.000 100.634.000

Remeasurement of liabilities for employees’ benefits Pajak penghasilan terkait 2s,9d (8.843.600 ) (20.126.800 ) Related income taxes Jumlah Penghasilan Komprehensif

Lain 35.374.400 80.507.200

Total Other Comprehensive Income JUMLAH RUGI KOMPREHENSIF

PERIODE BERJALAN (20.566.756.780 ) (364.701.544 ) TOTAL COMPREHENSIVE LOSSES FOR THE PERIOD

*) Laporan keuangan untuk periode yang berakhir pada tanggal 30 Juni 2020 bukan merupakan laporan keuangan konsolidasian karena tidak mencakup laporan keuangan entitas anak.

*) The financial statements for the periods ended June 30, 2020 are not consolidated financial statements because do not include the financial statements of the subsidiary.

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RUGI BERSIH YANG DAPAT

DIATRIBUSIKAN KEPADA: NET INCOME LOSSES

ATTRIBUTABLE TO:

Pemilik entitas induk (20.602.070.065 ) (445.208.744 ) Owners of the Parent Kepentingan non-pengendali 2d (61.115 ) - Non-controlling Interest

JUMLAH (20.602.131.180 ) (445.208.744 ) TOTAL

JUMLAH RUGI KOMPREHENSIF YANG DAPAT DIATRIBUSIKAN

KEPADA:

TOTAL COMPREHENSIVE LOSSES ATTRIBUTABLE TO:

Pemilik entitas induk (20.566.695.665 ) (364.701.544 ) Owners of the Parent Kepentingan non-pengendali 2d (61.115 ) - Non-controlling Interest

JUMLAH (20.566.756.780 ) (364.701.544 ) TOTAL

RUGI BERSIH PER SAHAM 2t,29 NET LOSSES PER SHARE

Saham dasar (7,43 ) (0,66 ) Basic

Saham dilusian (8,24 ) (0,66 ) Diluted

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yang tidak terpisahkan dari laporan keuangan konsolidasian interim secara keseluruhan. See accompanying Notes to the Interim Consolidated Financial Statements which are an integral part of theinterim consolidated financial statements.

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Catatan / Notes

Modal Saham / Share Capital

Tambahan Modal Disetor / Additional Paid-in Capital

Aktuarial atas Imbalan

Kerja - bersih / Actuarial Gain (Losses) on Employees’

Benefits - net

Surplus Revaluasi / Revaluation

Surplus

Defisit / Deficit

Jumlah / Total

Kepentingan Non-Pengendali /

Non-controlling Interests

Jumlah Ekuitas / Total Equity Saldo pada tanggal

1 Januari 2020* 34.000.000.000 50.834.734.519 (167.722.500 ) 70.686.054.948 (16.607.763.713 ) 138.745.303.254 - 138.745.303.254 Balance as of January 1, 2020*

Peningkatan modal saham dari penawaran umum

perdana saham 8.500.000.000 - - - - 8.500.000.000 - 8.500.000.000

Additional share capital from initial public offering

Tambahan modal disetor - 32.238.162.500 - - - 32.238.162.500 - 32.238.162.500 Additional paid-in capital

Penghasilan komprehensif

lain - - 80.507.200 - - 80.507.200 - 80.507.200

Other comprehensive income

Reklasifikasi surplus

revaluasi ke saldo laba - - - (649.382.123 ) 649.382.123 - - -

Reclassification revaluation surplus to retained

earnings

Rugi bersih periode berjalan - - - - (445.208.744 ) (445.208.744 ) - (445.208.744 ) Net loss for the period Saldo pada tanggal

30 Juni 2020* 42.500.000.000 83.072.897.019 (87.215.300 ) 70.036.672.825 (16.403.590.328 ) 179.118.764.210 - 179.118.764.210 Balance as of June 30, 2020*

*) The financial statements for the periods ended June 30, 2020 are not consolidated financial statements because do not include the financial statements of the subsidiary.

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yang tidak terpisahkan dari laporan keuangan konsolidasian interim secara keseluruhan. See accompanying Notes to the Interim Consolidated Financial Statements which are an integral part of the interim consolidated financial statements.

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Catatan /

Notes Modal Saham / Share Capital

Tambahan Modal Disetor / Additional Paid-in Capital

Keuntungan (Kerugian)

Aktuarial atas Imbalan

Kerja - bersih / Actuarial Gain (Losses) on Employees’

Benefits - net

Surplus Revaluasi / Revaluation

Surplus Defisit /

Deficit Jumlah /

Total

Kepentingan Non-Pengendali /

Non-controlling

Interests Jumlah Ekuitas / Total Equity Saldo pada tanggal

1 Januari 2021* 42.503.320.100 83.089.497.519 125.554.300 66.789.762.208 (18.598.670.365 ) 173.909.463.762 - 173.909.463.762 Balance as of January 1, 2021*

Tambahan modal disetor 23 474.770.000 2.373.850.000 - - - 2.848.620.000 - 2.848.620.000 Additional paid-in capital

Penghasilan komprehensif

lain - - 35.374.400 - - 35.374.400 - 35.374.400 Other comprehensive

income

Reklasifikasi surplus

revaluasi ke saldo laba 13 - - - (1.633.690.581 ) 1.633.690.581 - - -

Reclassification revaluation surplus to retained

earnings

Rugi bersih periode berjalan - - - - (20.602.070.065 ) (20.602.070.065 ) (61.115 ) (20.602.131.180 ) Net loss for the period

Kepentingan non- pengendali yang timbul dari konsolidasi entitas

anak - - - - - - 847.025 847.025

Non-controlling interest arising from the consolidation of subsidiaries Saldo pada tanggal

30 Juni 2021 42.978.090.100 85.463.347.519 160.928.700 65.156.071.627 (37.567.049.849 ) 156.191.388.097 785.910 156.192.174.007 Balance as of June 30, 2021

*) The financial statements as of December 31, 2020 are not consolidated financial statements because do not include the financial statements of the subsidiary.

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Lihat Catatan atas Laporan Keuangan Konsolidasian Interim yang merupakan bagian See accompanying Notes to the Interim Consolidated Financial Statements

Notes 2021 2020*

ARUS KAS DARI (UNTUK) AKTIVITAS

OPERASI CASH FLOWS FROM

(FOR) OPERATING ACTIVITIES Penerimaan kas dari pelanggan 91.882.511.502 85.743.597.447 Cash receipt from customers Pembayaran kas kepada pemasok (44.694.212.348 ) (66.876.402.711 ) Cash paid to supplier Pembayaran kepada karyawan (14.212.409.866 ) (11.862.118.580 ) Cash paid to employees Pembayaran untuk beban usaha (21.936.988.493 ) (19.162.424.953 ) Cash paid for operating expenses Pembayaran pajak penghasilan (27.169.100 ) (497.832.911 ) Income tax paid

Penerimaan bunga 35 6.923.138 1.406.458.863 Interest received

Pembayaran bunga 35 (635.842.999 ) (16.642.941.027 ) Interest paid Penerimaan klaim asuransi 35 111.303.970 4.288.861.216 Claim insurance receive Penerimaan (pembayaran) lainnya (860.365.878 ) 13.199.366.564 Cash receipt (paid) from others Kas Bersih Diperoleh dari

(Digunakan untuk) Aktivitas Operasi 9.633.749.926 (10.403.436.092 )

Net Cash Provided by (Used in)Operating Activities

INVESTASI CASH FLOWS FROM

(FOR) INVESTING ACTIVITIES Pengembalian (pembayaran) uang muka

pembelian aset tetap 3.846.923.722 (40.816.529.752 ) Refund (payment) for advances of purchase of fixed assets

Investasi pada saham (6.000.000.000 ) - Investment in shares

Hasil penjualan aset tetap 13 - 84.750.000 Proceeds from sale of fixed assets Perolehan aset tetap 13,35 (4.500.902.150 ) (4.339.209.395 ) Acquisition of fixed assets Kas Bersih Digunakan untuk

Aktivitas Investasi

(6.653.978.428 ) (45.070.989.147 )

Net Cash Used in Investing Activities

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PENDANAAN CASH FLOWS FROM

(FOR) FINANCING ACTIVITIES Penerimaan dari pelaksanaan waran 23 2.848.620.000 - Received from exercise warrant Perolehan dana dari penawaran umum

perdana saham - 44.625.000.000 Received from initial public offering Penerimaan (pembayaran) dana yang

dibatasi penggunaannya (668.825.791 ) 4.368.296.161 Receipt (payment) from restricted funds

Utang bank jangka pendek 35 Short-term bank loans

Penerimaan - 42.095.880.107 Receipt

Pembayaran (2.000.000.000 ) (54.269.534.078 ) Payment

Utang bank jangka panjang 35 Long-term bank loans

Penerimaan - 14.526.902.210 Receipt

Pembayaran - (19.002.189.313 ) Payment

Piutang lain-lain - pihak berelasi Other receivables - related parties

Penerimaan 450.000.000 26.160.166.453 Receipt

Penambahan - (295.240.566 ) Addition

Pembayaran biaya penawaran umum

perdana saham - (3.886.837.500 ) Payment of the cost of

initial public offering Pembayaran utang pembiayaan konsumen (1.892.037.044 ) (1.969.735.306 ) Repayment of consumer

financing payable Kas Bersih Diperoleh dari

(Digunakan untuk) Aktivitas

Pendanaan (1.262.242.835 ) 52.352.708.168

Net Cash Provided by (Used in) Financing Activities

KENAIKAN (PENURUNAN) BERSIH KAS

DAN BANK 1.717.528.663 (3.121.717.071 )

NET INCREASE (DECREASE) IN CASH ON

HAND AND IN BANKS

Kas dan bank entitas anak yang

dikonsolidasikan pada tanggal akuisisi 1.696.075.949

Cash on hand and in banks of subsidiary which consolidated at the date of acquisition

KAS DAN BANK AWAL PERIODE 8.475.645.906 8.376.853.763

CASH ON HAND AND IN BANKS AT THE BEGINNING OF THE

PERIOD KAS DAN BANK AKHIR PERIODE 11.889.250.518 5.255.136.692 CASH ON HAND AND IN BANKS

AT THE END OF THE PERIOD

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1. UMUM 1. GENERAL

a. Pendirian Perusahaan dan Informasi Umum a. The Company’s Establishment and General Information

PT Sejahtera Bintang Abadi Textile Tbk (“Perusahaan”) didirikan berdasarkan Akta Notaris No. 18 dari Lukas Haridjaja Gani, S.H., tanggal 17 Juli 2003. Akta pendirian tersebut telah disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. C- 22781.HT.01.01-Th.2003 tanggal 25 September 2003.

PT Sejahtera Bintang Abadi Textile Tbk (the Company) was established based on Notarial Deed No. 18 of Lukas Haridjaja Gani, S.H., dated July 17, 2003. The Deed of establishment was approved by the Minister of Law and Human Rights of the Republic of Indonesia in his Decision Letter No. C-22781.HT.01.01-Th.2003 dated September 25, 2003.

Anggaran Dasar Perusahaan telah mengalami beberapa kali perubahan, terakhir dengan Akta Notaris No. 6 tanggal 13 Mei 2020 dari Rahayu Ningsih, S.H., mengenai peningkatan modal disetor. Pemberitahuan Perubahan Anggaran Dasar telah diterima oleh Kementerian Hukum dan Hak Asasi Manusia Republik Indonesia dengan No.

AHU-AH.01.03-0218695.Tahun 2020 tanggal 13 Mei 2020.

The Company’s Articles of Association have been amended several times, most recently by Notarial Deed No. 6 dated May 13, 2020 of Rahayu Ningsih, S.H., concerning increase in paid-in capital. The Notification of Amendment of Articles of Association was received by the Ministry of Law and Human Rights of the Republic of Indonesia with No. AHU-AH.01.03- 0218695.Tahun 2020 dated May 13, 2020.

Sesuai dengan Pasal 3 Anggaran Dasar Perusahaan, ruang lingkup kegiatan Perusahaan adalah menjalankan ekspor–impor dan perdagangan tekstil serta industri tekstil. Sampai dengan saat ini, Perusahaan bergerak di bidang industri khususnya tekstil serta memproduksi benang dari bahan daur ulang.

In accordance with Article 3 of the Company’s Articles of Association, the scope of the Company’s business was to engaged in export- import and trading of textile, and textile industry.

Currently, the Company is engaged in textile industry and produce yarn from recycled material.

Perusahaan terletak di Jl. Raya Cicalengka- Majalaya Km.5, Srirahayu, Cikancung, Kabupaten Bandung, Jawa Barat.

The Company is located at Jl. Raya Cicalengka- Majalaya Km.5, Srirahayu, Cikancung, Kabupaten Bandung, West Java.

Perusahaan tidak memiliki entitas langsung dan utama. Pengendali Perusahaan adalah individu yaitu Tan Heng Lok.

The Company has no immediate and ultimate parent entity. The controlling interest of the Company is owned by an individual which is Tan Heng Lok.

Perusahaan mulai beroperasi secara komersial

pada tahun 2003. The Company started its commercial operation

in 2003.

b. Penawaran Umum Perdana b. Initial Public Offering Pada tanggal 31 Maret 2020, Perusahaan

memperoleh surat pernyataan efektif No.S- 108/D.04/2020 dari Otoritas Jasa Keuangan (OJK) untuk melakukan penawaran umum saham kepada masyarakat sebanyak 425.000.000 saham atau sebanyak 20% dari jumlah saham yang ditempatkan dan disetor penuh dengan nilai nominal Rp 20 per saham dengan harga penawaran Rp 105 per saham disertai dengan penerbitan Waran Seri I sebanyak 425.000.000 yang diberikan secara cuma-cuma dengan nilai nominal Rp 20 setiap saham dengan harga pelaksanaan Rp 120 setiap saham.

On March 31, 2020, the Company obtained an effective statement letter No.S-108/D.04/2020 from the Financial Services Authority (OJK) to conduct a public offering of its shares to the public of 425,000,000 shares or 20% of the total issued and fully paid with a nominal value of Rp 20 per share with offering price of Rp 105 per share and accompanied by the issuance of Warrant Series I of 425,000,000 as an incentive with a nominal value of Rp 20 per share with an exercise price of Rp120 per share.

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b. Penawaran Umum Perdana (lanjutan) b. Initial Public Offering (continued) Masa pelaksanaan waran yaitu mulai tanggal

8 Oktober 2020 sampai dengan 7 April 2023. Setiap pemegang satu saham baru Perusahaan berhak membeli satu waran. Bila waran tidak dilaksanakan sampai masa berlakunya habis, maka waran tersebut menjadi kadaluarsa.

Period of execution of warrants which began on October 8, 2020 until April 7, 2023. Each holder of one new share of the Company has the right to buy one warrant. If the warrants are not excecuted until the validity period expires, then, these warrants were expired.

Berdasarkan surat pengumuman pencatatan dari Bursa Efek Indonesia No. S-02089/BEI.PP1/04- 2020 tanggal 3 April 2020, Perusahaan mencatatkan seluruh sahamnya sebanyak 2.125.000.000 saham pada tanggal 8 April 2020.

Based on the announcement letter of listing from the Indonesia Stock Exchange No. S- 02089/BEI.PP1/04-2020 dated April 3, 2020, the Company recorded all of its 2,125,000,000 shares on April 8, 2020.

c. Entitas Anak yang Dikonsolidasikan c. Consolidated Subsidiary Pada tanggal 30 Juni 2021, entitas anak yang

dikonsolidasikan dan presentase kepemilikan Perusahaan adalah sebagai berikut:

As of June 30, 2021 the consolidated subsidiary and respective percentages of ownership held by the Company are as follows:

Berdasarkan Akta Notaris No. 39 tanggal 17 Mei 2021 dari Mundji Salim, S.H., Notaris di Jakarta Timur, entitas anak Perusahaan berubah nama dari PT Bintang Sejahtera Mitra Top menjadi PT SBA Investama Indonesia. Perubahan tersebut telah disetujui oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dengan Surat Keputusan No. AHU-0032973.AH.01.02.TAHUN 2021 tanggal 9 Juni 2021.

Based on Notarial Deed No.39 dated December 30, 2020 of Mundji Salim, S.H., Notary in East Jakarta, the Company’s Subsidiary changed its name from PT Bintang Sejahtera Mitra Top toPT SBA Investama Indonesia. The amendment has been approved by the Minister of Law and Human Rights of the Republic of Indonesia with Decree No. AHU-0032973.AH.01.02.TAHUN 2021 dated June 9, 2021.

Berdasarkan Akta Notaris No. 78 tanggal 30 Desember 2020 dari Mundji Salim, S.H., Notaris di Jakarta Timur, entitas anak Perusahaan berubah nama dari PT Berkat Sukses Megah menjadi PT Bintang Sejahtera Mitra Top. Perubahan tersebut telah disetujui oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dengan Surat Keputusan No. AHU-0000307.AH.01.02.TAHUN 2021 tanggal 5 Januari 2021.

Based on Notarial Deed No. 78 dated December 30, 2020 of Mundji Salim, S.H., Notary in East Jakarta, the Company’s Subsidiary changed its name from PT Berkat Sukses Megah to PT Bintang Sejahtera Mitra Top. The amendment has been approved by the Minister of Law and Human Rights of the Republic of Indonesia with Decree No. AHU-0000307.AH.01.02.TAHUN 2021 dated January 5, 2021.

Pada tanggal 30 Desember 2020, Perusahaan membeli 79,95% kepemilikan saham atau sebanyak 1.599 saham PT SBA Investama Indonesia yang dimiliki oleh Mohammad Abdul Muis dengan harga perolehan sebesar Rp 1.599.000.000.

On December 30, 2020, the Company purchased 79.95% share ownership or representing 1,599 shares of PT SBA Investama Indonesia which were owned by Mohammad Abdul Muis, with acquisition cost amounted to Rp 1,599,000,000.

PT SBA Investama Indonesia adalah perusahaan yang bergerak dalam perdagangan.

PT SBA Investama Indonesia is a company which engaged in trading.

Entitas Anak /

Subsidiary Domisili /

Domicile

Jenis Usaha / Nature of Business

Tahun Berdiri / Year of Incorporation

Jumlah Aset (Sebelum Eliminasi) / Total Assets (Before Elimination) Persentase

Kepemilikan / Percentage of

Ownership 30 Juni 2021 /

June 30, 2021 31 Desember 2020 / December 31, 2020

PT SBA Investama Indonesia (SII) Jakarta Perdagangan /

Trading 2019 99,95% 1.575.467.276 1.696.075.949

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c. Entitas Anak yang Dikonsolidasikan (lanjutan) c. Consolidated Subsidiary (continued) Nilai dari aset dan liabilitas teridentifikasi dari SII

pada saat akuisisi adalah sebagai berikut: The amount of identifiable assets and liabilities of SII as of the date of acquistion were:

Nilai Wajar Diakui pada Saat Akuisisi/

Fair Value Recognized on Acquisition

Aset Asset

Kas dan bank 1.356.012.721 Cash on hand and in banks

Liabilitas Liabilities

Utang pajak 694.653 Taxes payable

Beban masih harus dibayar 924.993 Accrued expense

Jumlah liabilitas 1.619.646 Total liabilities

Nilai aset neto teridentifikasi 1.354.393.075 Total identifiable net assets

Harga perolehan (1.599.000.000) Purchase consideration

Goodwill diakui dalam akuisisi 244.606.925 Goodwill arising on acquisition d. Dewan Komisaris, Direksi, dan Karyawan d. Boards of Commissioners, Directors, and

Employees Susunan Dewan Komisaris dan Direksi

Perusahaan pada tanggal 30 Juni 2021, dan 31 Desember 2020 adalah sebagai berikut:

The Company’s Boards of Commissioners and Directors as of June 30, 2021, and December 31, 2020 consist of the following:

Dewan Komisaris Board of Commissioners

Komisaris Utama : Santoso Widjojo : President Commissioner

Komisaris : Martha Intan Yaputra : Commissioner

Komisaris Independen : Mamay Jamaludin : Independent Commissioner

Dewan Direksi Board of Directors

Direktur Utama : Jefri Junaedi : President Director

Direktur : Somad Tjuar : Director

Berdasarkan Surat Keputusan Dewan Komisaris No. 095/SBAT-INT/VIII/2020 tanggal 10 Agustus 2020, Dewan Komisaris Perusahaan mengangkat susunan Komite Audit dengan susunan sebagai berikut:

Based on Board of Commissioner Decision Letter No. 095/SBAT-INT/VIII/2020 dated August 10, 2020, the Company’s Board of commissioners appoints the Audit Committee with the composition as follows:

Ketua : Mamay Jamaludin : Chairman

Anggota : Muhammad Diemas Fauzie : Member

Kusmiyati Epni

Suprihatiningsih

Berdasarkan Surat Keputusan Direksi No.037/SBAT-EX/XII/2019, tanggal 2 Desember 2019, Corporate Secretary dijabat oleh David Jonathan Sumito.

Based on Directors’ Decision Letter No.

037/SBAT-EX/XII/2019, dated December 2, 2019 the Corporate Secretary position is held by David Jonathan Sumito.

Jumlah karyawan Perusahaan dan entitas anak adalah 680 dan 589 masing-masing pada 30 Juni 2021 dan 31 Desember 2020.

The Company and subsidiary had a total number of employees of 680 and 589 employees as of June 30, 2021 and December 31, 2020 respectively.

e. Penerbitan Laporan Keuangan Konsolidasian Interim

f. Issuance of Interim Consolidated Financial Statements

Laporan keuangan konsolidasian interim ini telah diotorisasi untuk diterbitkan oleh Dewan Direksi Perusahaan, selaku pihak yang bertanggung jawab atas penyusunan dan penyelesaian laporan keuangan konsolidasian pada tanggal 23 Agustus 2021.

The interim consolidated financial statements have been authorized for issuance by the Board of Directors of the Company, as the party who is responsible for the preparation and completion of the consolidated financial statements on August 23, 2021.

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a. Kepatuhan Terhadap Standar Akuntansi

Keuangan (SAK) a. Compliance with Financial Accounting

Standards (SAK) Laporan keuangan konsolidasian interim

Perusahaan dan Entitas Anak (selanjutnya disebut

“Grup”) telah disusun dan disajikan sesuai dengan Standar Akuntansi Keuangan di Indonesia, yang meliputi Pernyataan Standar Akuntansi Keuangan (PSAK) dan Interpretasi Standar Akuntansi Keuangan (ISAK) dan Peraturan-Peraturan serta Pedoman Penyajian dan Pengungkapan Laporan Keuangan yang diterbitkan oleh Otoritas Jasa Keuangan (OJK).

The interim consolidated financial statements of the Company and subsidiary (hereafter referred to as “the Group”) have been prepared and presented in accordance with Indonesian Financial Accounting Standards, which comprise the Statements of Financial Accounting Standards (PSAK) and Interpretations of Financial Accounting Standards (ISAK) and Regulations and Guidelines for the Presentation and Disclosure of Financial Statements issued by the Financial Services Authority (OJK).

b. Dasar Penyusunan dan Pengukuran Laporan Keuangan Konsolidasian Interim

b. Basis of Interim Consolidated Financial Statements Preparation and Measurement Dasar pengukuran laporan keuangan

konsolidasian interim ini adalah konsep biaya perolehan (historical cost), kecuali beberapa akun tertentu disusun berdasarkan pengukuran lain, sebagaimana diuraikan dalam kebijakan akuntansi masing-masing akun tersebut. Laporan keuangan konsolidasian interim ini disusun dengan metode akrual, kecuali laporan arus kas konsolidasian interim.

The measurement basis used is the historical cost, except for certain accounts which are measured on the bases described in the related accounting policies. The interim consolidated financial statements, except for the interim consolidated statement of cash flows, are prepared under the accrual basis of accounting.

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

The interim consolidated statement of cash flows are prepared using the direct method with classifications of cash flows into operating, investing and financing activities.

Kebijakan akuntansi yang digunakan dalam penyusunan laporan keuangan konsolidasian interim konsisten dengan yang digunakan dalam penyusunan laporan keuangan konsolidasian periode sebelumnya, kecuali untuk penerapan amandemen PSAK yang berlaku efektif pada tanggal 1 Januari 2021 telah diungkapkan dalam catatan ini.

The accounting policies adopted in the preparation of the interim consolidated financial statements are consistent with those adopted in the preparation of the consolidated financial statements in respect of the previous period, except for the adoption of amendments to PSAK effective January 1, 2021 which are disclosed in this note.

Mata uang yang digunakan dalam penyusunan dan penyajian laporan keuangan konsolidasian interim adalah mata uang Rupiah yang juga merupakan mata uang fungsional Grup.

The currency used in the preparation and presentation of the interim consolidated financial statements is the Indonesian Rupiah which is also the functional currency of the Group.

Perlu dicatat bahwa estimasi akuntansi dan asumsi yang digunakan dalam penyusunan laporan keuangan konsolidasian interim, meskipun perkiraan ini didasarkan pada pengetahuan terbaik manajemen dan penilaian dari peristiwa dan tindakan saat ini, peristiwa yang sebenarnya mungkin akhirnya berbeda dengan estimasi. Area yang kompleks atau memerlukan tingkat pertimbangan yang lebih tinggi atau area di mana asumsi dan estimasi berdampak signifikan terhadap laporan keuangan konsolidasian interim diungkapkan di Catatan 3.

It should be noted that accounting estimates and assumptions used in the preparation of the interim consolidated financial statements, although these estimates are based on managements’ best knowledge and judgement of the current events and actions, actual events may ultimately differ from those estimates. 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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(lanjutan) POLICIES (continued)

c. Penerapan Amandemen PSAK c. Application of Amendments to PSAK Grup menerapkan amandemen PSAK yang wajib

diberlakukan mulai 1 Januari 2021. Penerapan amandemen PSAK berikut tidak mengakibatkan perubahan substansial terhadap kebijakan akuntansi Grup dan tidak berdampak material terhadap Grup dan tidak memiliki pengaruh material terhadap jumlah yang dilaporkan untuk periode keuangan saat ini atau sebelumnya:

The Group applied amendments to PSAK that are mandatory for application from January 1, 2021.

The application of amendments to PSAK did not result in substantial changes to the Group’s accounting policies and had no material effect on the amounts reported for the current or prior financial periods:

 Amandemen PSAK 22, “Kombinasi Bisnis”;

 Amandemen PSAK 55, “Instrumen Keuangan:

Pengakuan dan Pengukuran (Reformasi Acuan Suku Bunga Tahap 2)”;

 Amandemen PSAK 60, “Instrumen Keuangan:

Pengungkapan (Reformasi Acuan Suku Bunga Tahap 2)”;

 Amendments to PSAK 22, “Business Combination”;

 Amendments to PSAK 55, “Financial Instruments: Recognition and Measurement (Interest Rate Benchmark Reform Batch 2)”;

 Amendments to PSAK 60, “Financial Instruments: Disclosures (Interest Rate Benchmark Reform Batch 2)”;

 Amandemen PSAK 71, “Instrumen Keuangan (Reformasi Reformasi Acuan Suku Bunga Tahap 2)”;

 Amandemen PSAK 73, “Sewa (Reformasi Acuan Suku Bunga Tahap 2)”.

 Amendments to PSAK 71, “Financial Instruments (Interest Rate Benchmark Reform Batch 2)”;

 Amendments to PSAK 73, “Lease (Interest Rate Benchmark Reform Batch 2)”.

d. Prinsip Konsolidasian Interim d. Principles of Interim Consolidation Seluruh transaksi antar perusahaan, saldo akun dan

laba atau rugi yang belum direalisasi dari transaksi antar entitas telah dieliminasi.

Inter-company transactions, balances and unrealized gains or loss on transactions between companies in the group are eliminated.

Entitas Anak adalah seluruh entitas dimana Perusahaan memiliki pengendalian. Perusahaan mengendalikan investee ketika memiliki kekuasaan atas investee, eksposur atau hak atas imbal hasil variabel dari keterlibatannya dengan investee, dan memiliki kemampuan untuk menggunakan kekuasaannya atas investee untuk mempengaruhi jumlah imbal hasil.

Subsidiaries are all entities over which the Company has control. The Company controls the investee when the Company has power over the investee, is exposed, or has rights, to variable returns from its involvement with the investee, and has the ability to use its power over the investee to affect its returns.

Konsolidasi atas entitas anak dimulai sejak tanggal memperoleh pengendalian atas entitas anak dan berakhir ketika kehilangan pengendalian atas entitas anak. Penghasilan dan beban entitas anak dimasukkan atau dilepaskan selama tahun berjalan dalam laba rugi dari tanggal diperolehnya pengendalian sampai dengan tanggal ketika Perusahaan kehilangan pengendalian atas entitas anak.

Consolidation of a subsidiary begins when the Company obtains control over the subsidiary and ceases when the Company loses control of the subsidiary. Income and expenses of a subsidiary acquired or disposed of during the year are included in profit or loss from the date the Company gains control until the date the Company ceases to control the subsidiary.

Rugi entitas anak yang tidak dimiliki secara penuh diatribusikan pada Kepentingan Non-pengendali (KNP) bahkan jika hal ini mengakibatkan KNP mempunyai saldo defisit.

Losses of a non-wholly owned subsidiary are attributed to the Non-controlling Interests (NCI) even if such losses result in a deficit balance for the NCI.

Jika Perusahaan kehilangan pengendalian atas Entitas Anak maka Perusahaan pada tanggal hilangnya pengendalian tersebut:

If the Company loses control of a subsidiary, on the date of loss of control, the Company shall:

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d. Prinsip Konsolidasian Interim (lanjutan) d. Principles of Interim Consolidation (continued)

 Menghentikan pengakuan aset (termasuk setiap goodwill) dan liabilitas Entitas Anak pada nilai tercatatnya.

 Menghentikan pengakuan jumlah tercatat setiap KNP;

 Mengakui nilai wajar pembayaran yang diterima dan distribusi saham (jika ada);

 Mengakui setiap sisa investasi pada entitas anak pada nilai wajarnya;

 Derecognize the assets (include goodwill) and liabilities of the Subsidiary at their carrying amount;

 Derecognize the carrying amount of any NCI;

 Recognize the fair value of the consideration received (if any);

 Recognize the fair value of any investment retained;

 Mereklasifikasi bagian Perusahaan atas komponen yang sebelumnya diakui sebagai penghasilan komprehensif lain ke laporan laba rugi dan penghasilan komprehensif lain konsolidasian interim, atau mengalihkan secara langsung ke saldo laba dan;

 Mengakui setiap perbedaan yang dihasilkan sebagai keuntungan atau kerugian dalam laporan laba rugi dan penghasilan komprehensif lain konsolidasian interim.

 Reclassify the Company’s share of components previously recognized in other comprehensive income to the interim consolidated statement of profit or loss and other comprehensive income or retained earnings, as appropriate and;

 Recognize any surplus or deficit as gain or loss in the interim consolidated statement of profit or loss and other comprehensive income.

KNP mencerminkan bagian atas laba atau rugi dan aset bersih dari entitas anak yang tidak dapat diatribusikan secara langsung maupun tidak langsung pada Perusahaan, yang masing-masing disajikan dalam laporan laba rugi dan penghasilan komprehensif lain konsolidasian interim dan dalam ekuitas pada laporan posisi keuangan konsolidasian interim, terpisah dari bagian yang dapat diatribusikan kepada pemilik entitas induk.

NCI represents the portion of the profit or loss and net assets of the subsidiaries attributable to equity interests that are not owned directly or indirectly by the Company, which are presented in the interim consolidated statement of profit or loss and other comprehensive income and under the equity section of the interim consolidated statement of financial position, respectively, separately from the corresponding portion attributable to the equity holders of the parent company.

Transaksi dengan kepentingan non-pengendali yang tidak mengakibatkan hilangnya pengendalian dicatat sebagai transaksi ekuitas. Selisih antara nilai wajar imbalan yang dialihkan dengan bagian relatif atas nilai tercatat aset bersih entitas anak yang diakuisisi dicatat di ekuitas. Laba atau rugi dari pelepasan kepada kepentingan non-pengendali juga dicatat di ekuitas.

Transactions with non-controlling interests that do not result in loss of control are accounted for as equity transactions. The difference between the fair value of any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity.

Gains or losses on disposals to non-controlling interests are also recorded in equity.

e. Kombinasi Bisnis e. Business Combination

Entitas Tidak Sepengendali Among Entities Not Under Common Control Kombinasi bisnis, kecuali kombinasi bisnis entitas

sepengendali, dicatat dengan menggunakan metode akuisisi. Biaya perolehan dari sebuah akuisisi diukur pada nilai agregat imbalan yang dialihkan, diukur pada nilai wajar pada tanggal akuisisi dan jumlah setiap KNP pada pihak yang diakuisisi. Untuk setiap kombinasi bisnis, pihak pengakuisisi mengukur KNP pada entitas yang diakuisisi pada nilai wajar atau sebesar proporsi kepemilikan KNP atas aset neto yang teridentifikasi dari entitas yang diakuisisi. Biaya-biaya akuisisi yang timbul dibebankan langsung dan disajikan sebagai beban umum dan administrasi.

Business combinations, except business combination among entities under common control, are recorded using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, measured at acquisition date fair value and the amount of any NCI in the acquiree. For each business combination, the acquirer measures the NCI in the acquirer either at fair value or at the proportionate share of the acquire’s identifiable net assets. Acquisition related costs incurred are directly expensed and included in general and administrative expenses.

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(lanjutan) POLICIES (continued)

e. Kombinasi Bisnis (lanjutan) e. Business Combination (continued)

Entitas Tidak Sepengendali (lanjutan) Among Entities Not Under Common Control (continued)

Ketika melakukan akuisisi atas sebuah bisnis, Grup mengklasifikasikan dan menentukan aset keuangan yang diperoleh dan liabilitas keuangan yang diambil alih berdasarkan pada persyaratan kontraktual, kondisi ekonomi dan kondisi terkait lain yang ada pada tanggal akuisisi.

When the Group acquires a business, it assesses the financial assets acquired and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as of the acquisition date.

Dalam suatu kombinasi bisnis yang dilakukan secara bertahap, pihak pengakuisisi mengukur kembali kepentingan ekuitas yang dimiliki sebelumnya pada pihak yang diakuisisi pada nilai wajar tanggal akuisisi dan mengakui keuntungan atau kerugian dalam laporan laba rugi dan penghasilan komprehensif lain konsolidasian interim.

In the business combination is achieved in stages, the fair value of the acquirer’s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date through profit or loss in the interim consolidated statement of profit or loss and other comprehensive income.

Imbalan kontinjensi yang dialihkan oleh pihak pengakuisisi diakui sebesar nilai wajar pada tanggal akuisisi. Perubahan nilai wajar atas imbalan kontinjensi setelah tanggal akuisisi yang diklasifikasikan sebagai aset atau liabilitas, akan diakui dalam komponen laba rugi atau penghasilan komprehensif lain. Jika diklasifikasikan sebagai ekuitas, imbalan kontinjensi tidak diukur kembali dan penyelesaian selanjutnya diperhitungkan dalam ekuitas.

Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration which is deemed to be an asset or liability will be recognized either in profit or loss or as other comprehensive income. If the contingent consideration is classified as equity, it should not be measured until it is finally settled within equity.

Pada tanggal akuisisi, goodwill awalnya diukur pada harga perolehan yang merupakan selisih lebih nilai agregat dari imbalan yang dialihkan dan jumlah yang diakui untuk KNP atas nilai wajar aset bersih teridentifikasi yang diperoleh dan liabilitas yang diambil alih. Jika nilai agregat tersebut lebih kecil dari nilai wajar aset neto entitas anak yang diakuisisi, selisih tersebut diakui dalam komponen laba rugi.

At acquisition date, goodwill is initially measured at cost being the excess of the aggregate of the consideration transferred and the amount recognized for NCI over the fair value of net identifiable assets acquired and liabilities assumed. If the consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognized in profit or loss.

Setelah pengakuan awal, goodwill diukur pada jumlah tercatat dikurangi akumulasi kerugian penurunan nilai. Untuk tujuan uji penurunan nilai, goodwill yang diperoleh dari suatu kombinasi bisnis, sejak tanggal akuisisi, dialokasikan kepada setiap Unit Penghasil Kas (“UPK”) dari Perusahaan dan/atau entitas anak yang diharapkan akan menerima manfaat dari sinergi kombinasi tersebut, terlepas dari apakah aset atau liabilitas lain dari pihak yang diakuisisi dialokasikan ke UPK tersebut.

After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Company and/or its subsidiaries’ cash-generating units (“CGU”) that are expected to benefit from the combination synergy, irrespective of whether other assets or liabilities of the acquired are assigned to those CGUs.

Jika goodwill telah dialokasikan pada suatu UPK dan operasi tertentu atas UPK tersebut dihentikan, maka goodwill yang diasosiasikan dengan operasi yang dihentikan tersebut termasuk dalam jumlah tercatat operasi tersebut ketika menentukan keuntungan atau kerugian dari pelepasan. Goodwill yang dilepaskan tersebut diukur berdasarkan nilai relatif operasi yang dihentikan dan porsi UPK yang ditahan.

Where goodwill forms part of a CGU and part of the operation within that CGU is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss on disposal of the operation. Goodwill disposed of in this circumstance is measured based on the relative values of the operation disposed of and the portion of the CGU retained.