AR WIM 2014 Lowres Lap Keuangan

(1)

DECISION MAKER control and

supervision mechanism

problem solving

with cooperative

DON’T BLAME THE

OTHERS

Proactive/ Initiative

BUILDER

Reaching

Success Together

Open Mind

_Efficient

COOPERATION visionary

capability

The Next Process is Our Customer

(2)

PT Wismilak Inti Makmur Tbk (WIM) is a renown Indonesian cigarette industry that was established in 1963 by Lie Koen Lie, Tjio Ing Hien, Tjio Ing Hwa, Oei Bian Hok and Sie Po Nio in 1963. On December 18, 2012, Wismilak was turned into a public company.

Since going public, Wismilak has grown at an average rate of 5.08% (CAGR, based on total assets). At the end of 2014, Wismilak had 3 subsidiaries, 5 factories, 19 branch ofices, 5 stock points, 5 Hand-rolled Cigarette brands, 3 Machine-rolled Cigarette brands, and retained more than 4,000 employees. 2014 has become a year of maintaining growth momentum.

PT Wismilak Inti Makmur Tbk (Wismilak) merupakan industri rokok terkemuka Indonesia yang didirikan oleh Lie Koen Lie, Tjioe Ing Hien, Tjioe Ing Hwa, Oei Bian Hok dan Sie Po Nio pada tahun 1963. Pada 18 Desember 2012, Wismilak menjadi perusahaan terbuka.

Sejak go public, Wismilak tumbuh rata-rata 5,08% (CAGR, berdasarkan total aset). Pada akhir tahun 2014, Wismilak memiliki 3 anak perusahaan, 5 pabrik, 19 kantor cabang, 5 stock point, 5 merek Sigaret Kretek Tangan, 3 merek Sigaret Kretek Mesin, dan mempekerjakan lebih dari 4.000 karyawan. Tahun 2014 menjadi tahun menjaga momentum pertumbuhan.

About Wismilak

(3)

Decisions of the General Meeting of Shareholders 8 Report of the Board of Commissioners 12 Report of the Board of Directors 16 Highlights of 2014 22

Company Proile 24 Corporate Data 32 Company Milestones 34 Business Activity 34 Vision & Mission 35 Organizational Structure 36 Board of Commissoners’ Proile 37 Board of Directors’ Proile 38 Human Resources 40

Information About Shareholders 44 Ownership of Subsidiaries 45 Listing Chronology 45 Capital Market Support 46 Awards and Certiications 47

Management Discussion and Analysis 48 Introduction 50

Review of Operational Segments 52

Comprehensive Financial Performance Analysis 54 Solvability 57

Collectibility 58 Capital Structure 58

Material Commitments for Capital Good Investments 59 Material Information and Facts After Auditor’s Report 59 Business Prospect 60

Targets : Results Comparison 60 Marketing Strategy 61 Dividends 62

Use of Proceeds from Public Offering 64 Other Material Information 64 Changes in Rules & Regulations 65 Changes in Accountancy Policy 65

Corporate Governance 66 Introduction 68

Corporate Values 69 Board of Commissioners 72 Board of Directors 74 Joint Meetings 77 Audit Committee 77 Corporate Secretary 80 Internal Audit Unit 81 Internal Control System 83 Risk Management System 84 Material Legal Cases 87 Code of Conduct 87 Employee Stock Allocation 88 Whistleblowing System 88

Corporate Social Responsibility 90 Introduction 92

Environment 94

(4)

Financial Highlights of 2014

Ikhtisar Data Keuangan Penting Tahun 2014

1.119.062

Laba Yang Diatribusikan Kepada Pemilik Entitas Induk

Laba Yang Diatribusikan Kepada Kepentingan Non Pengendali

Laba Komprehensif

Laba Komprehensif Yang Diatribusikan Kepada Pemilik Entitas Induk

Laba Komprehensif Yang Diatribusikan Kepada Kepentingan Non Pengendali

Laba Per Saham

Net Sales

Gross Proit

Proit

Proit Attributable To Owners Of The Parent Entity

Proit Attributable To Non-Controlling Interest

Comprehensive Proit

Comprehensive Proit Attributable to Owners of the Parent Entity

Comprehensive Proit Attributable to Non-Controlling Interest

Earnings Per Share Description Uraian

(5)

t t

EquityJumlah Ekuitas 854.425 781.359 656.304

(6)

Share Information for 2014

Informasi Saham 2014

Share Price

Harga Saham

Share Price Movement, 2014

Pergerakan Harga Saham tahun 2014

Quarter

Triwulan

500 800

400 900

700

600

2,099

Million

IDR

Total Outstanding Shares 2014 & 2013 Jumlah Saham Beredar

2014 & 2013

Market Capitalization in 2014 Kapitalisasi Pasar 2014

Market Capitalization in 2013 Kapitalisasi Pasar 2013

1,311

1,406

Billion

IDR

( in millions of shares / dalam juta lembar saham ) Quarter 1

Quarter 2 Quarter 3 Quarter 4

Triwulan 1 Triwulan 2 Triwulan 3 Triwulan 4

860 755 630 640

1060 1060 870 820

615 580 510 510

670 780 500 640

740 610 550 625

1020 830 690 670

2014 2013

Highest

Tertinggi

Highest

Tertinggi

Lowest

Terendah

Lowest

Terendah

Closing

Penutupan

Closing

(7)

Trading Volume

Volume Perdagangan

Share Price Movement, 2013

Pergerakan Harga Saham tahun 2013

Quarter

The good tobacco harvest has not only produced larger volume of tobacco leaves but also improved the quality of

Wismilak’s raw material stock.

Panen raya tembakau bukan hanya menghasilkan daun tembakau dalam jumlah yang banyak, melainkan juga meningkatkan kualitas persediaan bahan

(8)

Decisions of The General Meeting of Shareholders

Keputusan Rapat Umum Pemegang Saham

Agenda I:

1. Accepting the Annual Report of the

Company for the reporting period of

2013 and oficiating the Company’s

Consolidated Financial Statements for

iscal year 2013 that was audited by

the Public Accountant Firm Kosasih,

Nurdiyaman, Tjahjo & Rekan (Crow

Horwath) with the judgement of “fair,

in all material aspects” as noted in the

Independent Auditor Report Number:

KNT&R-0109/14 dated 14 March 2014,

as well as the Supervision Report of the

Board of Commissioners; and

2. Granting the status of acquit et

decharge to the members of the

Board of Directors and the Board

of Commissioners of the Company

for the acts of management and

supervision that were conducted

during the reporting period of 2013, as

long as those actions are represented

in the Company’s Consolidated

Financial Report, except for acts of

embezzlement, fraud, and other types of

criminal acts.

Agenda II:

Approve the use of the Company’s net

income atributable to equity owners of the

parent company for the iscal year that

ended on 31 December 2013 at the amount

of IDR132,148,244,665 with the following

arrangement:

a. (i) Distributed as inal cash dividend at

the amount of IDR 39,687,614,064 or

IDR18.9 per share to the Company’s

shareholders whose names are listed

in the Company’s List of Shareholders

(Recording Date) on 20 June 2014 at

16.00 Western Indonesia Time

Acara Rapat I:

1. Menyetujui Laporan Tahunan Perseroan

Tahun Buku 2013 dan mengesahkan

Laporan Keuangan Konsolidasian

Perseroan Tahun Buku 2013 yang telah

diaudit Kantor Akuntan Publik Kosasih,

Nurdiyaman, Tjahjo & Rekan (Crow

Horwath) dengan pendapat “wajar,

dalam semua hal material" sebagaimana

dimuat dalam Laporan Auditor

Independen nomer: KNT&R-0109/14

tertanggal 14 Maret 2014, serta Laporan

Tugas Pengawasan Dewan Komisaris;

dan

2. Memberikan pembebasan tanggung

jawab sepenuhnya (acquit et decharge)

kepada semua anggota Direksi dan

Dewan Komisaris Perseroan atas

tindakan pengurusan dan tindakan

pengawasan yang telah mereka lakukan

selama tahun buku 2013, sejauh

tindakan-tindakan tersebut tercermin

dalam Laporan Keuangan Konsolidasian

Perseroan, kecuali untuk perbuatan

penggelapan, penipuan dan tindak

pidana lainnya.

Acara Rapat II:

Menyetujui penggunaan laba bersih

Perseroan yang dapat diatribusikan kepada

pemilik entitas induk untuk tahun buku yang

berakhir pada tanggal 31 Desember 2013

sejumlah Rp132.148.244.665,- untuk hal-hal

sebagai berikut:

a. (i) Dibagikan sebagai dividen inal tunai

sebesar Rp 39.687.614.064,- atau

sebesar Rp18,9 per lembar saham

kepada para pemegang saham

(9)

diperlukan. Pembayaran dividen tunai

akan dilakukan dengan memperhatikan

ketentuan pajak, Bursa Efek Indonesia dan

ketentuan pasar modal yang berlaku;

b. Menetapkan Cadangan khusus

sesuai Pasal 70 UU No.40 tahun 2007

tentang Perseroan Terbatas sejumlah

Rp2.000.000.000,- ;

c. Sisanya dicatat sebagai Laba Ditahan

Perseroan yang belum ditentukan

penggunaannya.

Acara Rapat III:

1. Memberikan kuasa kepada Dewan

Komisaris Perseroan untuk menetapkan

remunerasi, fasilitas dan tunjangan bagi

anggota Direksi Perseroan; dan

2. Memberikan kuasa kepada Komisaris

Utama untuk menentukan dan

menetapkan honorarium anggota Dewan

Komisaris Perseroan.

Acara Rapat IV:

Memberikan wewenang kepada Direksi

Perseroan, dengan persetujuan Dewan

Komisaris, untuk menunjuk kantor akuntan

publik yang terdaftar di Otoritas Jasa

Keuangan untuk melakukan audit laporan

keuangan Perseroan untuk tahun buku

2014, dan memberikan kewenangan kepada

Direksi Perseroan untuk menetapkan jumlah

honorarium dan persyaratan lainnya

sehubungan dengan penunjukan kantor

akuntan publik tersebut.

Acara Rapat V:

Tetap melanjutkan sisa penggunaan dana

hasil penawaran umum perdana saham

sesuai peruntukannya dalam prospektus.

will be conducted in accordance to

tax, Indonesia Stock Exchange, and

prevailing capital market regulations;

b. Setting aside a sum of IDR 2,000,000,000

as retained earnings-appropriated

in compliance with Article 70 of Law

No. 40 Year 2007 on Limited Liabilities

Companies;

c. Record the balance as Unappropriated

Retained Earnings of the Company.

Agenda III:

1. Authorizing the Board of Commissioners

of the Company to deine the

remunerations, facilities, and allowances

of the members of the Board of

Directors; and

2. Authorizing the President Commissioner

to deine the honorarium of

the members of the Board of

Commissioners.

Agenda IV:

Authorizing the Board of Directors of the

Company, with the Board of Commissioners'

approval, to appoint a public accountant

irm that is registered by the Financial

Services Authority to conduct the auditing of

the inancial reports of the Company for the

reporting period of 2014, and authorizing the

Board of Directors of the Company to deine

the honorarium and other terms related to

the appointment of the public accountant

irm.

Agenda V:

(10)

(11)

(12)

Report of the Board

of Commissioners

Laporan Dewan Komisaris

“Growth in sales

and proitability

remained on track

while the business

grew sustainably:

Wismilak has upheld

its sustainable growth

policy and was able

to strengthen its

long-term growth

foundation”

“Pertumbuhan penjualan

dan proitabilitas pada

jalur yang tepat sementara

usaha tumbuh secara

berkelanjutan: Wismilak

mempertahankan garis

kebijakan pertumbuhan

berkelanjutan dan mampu

mengokohkan landasan

(13)

Dear Shareholders,

As we now know, several important events

inluenced the business environment of 2014.

Indirect inluences on Wismilak’s business included

the General Election and the Presidential Election

of the Republic of Indonesia, and also the decrease

of global oil prices inluenced. However, there were

also events that directly inluenced Wismilak’s

business, such as good harvests at tobacco and

clove plantations.

Facing this dynamic external environment,

Wismilak was expected to maintain a sharp vision,

to increase capabilities to overcoming obstacles

and taking advantage of the opportunities.

With this background, the Board of Commissioners

is pleased to report that Wismilak has not only

upheld its sustainable growth policy in 2014, but

also strengthened the foundation for long-term

growth. Particularly, the Board of Commisioners

speciically appreciates the efforts of enhancing

Wismilak brands’ equity and the continuous

modernization efforts.

Performance of the Board of Directors

These achievements were obviously tied to the Board

of Directors’ ability in charting the course of growth

and maintaining a steady hand on the company’s

business. In 2014 we experienced steady sales and

quarterly proitability growth and at the same time

the Board of Directors has put a solid framework for

the next year.

The Board of Directors has also handled market

opportunities wisely, improving sales in the HC

segment to enhance Wismilak’s proitability, and

launching new variants in the MC segment to

strengthen existing brands.

Furthermore, the Board of Directors overcame

challenges to optimize beneits of the good harvest,

so that inventories increased by a sizeable number,

to an amount that supports the sustainable growth

Para Pemegang Saham yang

Terhormat,

Seperti kita ketahui bersama, tahun 2014 diwarnai

peristiwa penting yang berpengaruh dalam

lingkungan usaha. Pemilihan Umum serta Pemilihan

Presiden dan Wakil Presiden RI, serta menurunnya

harga minyak dunia, berpengaruh secara tidak

langsung terhadap usaha Wismilak. Di samping

itu, juga terjadi peristiwa yang berpengaruh secara

langsung terhadap usaha Wismilak, seperti panen

raya tembakau dan cengkeh.

Menghadapi lingkungan eksternal yang dinamis

seperti ini, Wismilak memerlukan visi yang tajam,

serta meningkatkan kemampuan untuk mengatasi

tantangan dan memanfaatkan peluang.

Dengan latar belakang ini, Dewan Komisaris dapat

melaporkan bahwa pada tahun 2014 Wismilak tidak

saja mempertahankan garis kebijakan pertumbuhan

yang berkelanjutan, melainkan juga memperkuat

landasan pertumbuhan jangka panjang. Secara

khusus, Dewan Komisaris menghargai upaya

peningkatan ekuitas merek Wismilak serta upaya

modernisasi secara berkelanjutan.

Kinerja Direksi

Tentunya pencapaian ini tidak terlepas dari

kemampuan Direksi dalam menentukan arah

pertumbuhan serta mengelola bisnis perusahaan

dengan baik. Pada 2014 Wismilak mencatatkan

pertumbuhan penjualan dan proitabilitas per kuartal

yang stabil dan pada saat yang sama Direksi telah

meletakkan dasar yang kokoh bagi pertumbuhan di

tahun depan.

Direksi menyikapi peluang pasar secara bijak,

memperkuat penjualan di segmen SKT guna

mengembangkan proitabilitas Wismilak, serta

meluncurkan varian baru di segmen SKM untuk

memperkuat merek yang telah hadir sebelumnya.

Direksi pun dapat mengatasi tantangan untuk

mengoptimalkan manfaat panen raya, sehingga

persediaan meningkat dalam jumlah yang cukup

untuk mendukung pertumbuhan Wismilak secara

(14)

Report of the Board

of Commissioners (continued)

Laporan Dewan Komisaris (lanjutan)

Even further, the Board of Directors drove

technological innovation, in the form of

management information system development

through intensifying SAP technology application,

and the modernization of the MC prodution line, so

that Wismilak may operate even more eficiently.

The Board of Directors also directed an increase

in HC production by opening a new factory in

Kertosono, East Java, which also created job

opportunities for the surrounding communities. The

Board of Commissioners would like to emphasize

the fact that 100% of the employees of Wismilak

and its subsidiaries are Indonesians.

From the start, Wismilak has been directed to

grow together with its stakeholders. Therefore,

the Board of Commissioners also acknowledges

the Board of Directors’ performance in enhancing

the sustainability of Wismilak’s corporate social

responsibility programs.

Review of Business Prospect

The Board of Directors believes that 2015 will be

a promising year. Based on acceptable economic

growth and inlation rates projection, as well as

a duty tariff increase that is below the levels of

previous years, the Board of Directors is convinced

that Wismilak can maintain the growth rate of 2014.

The Board of Commissioners is of the opinion

that this business prospect is based on realistic

thinking. The brand equity enhancement efforts, the

productivity and eficiency improvements, as well

as the upgrading of the management infrastructure

— including the management information system

development — support the business prospect.

The Board of Commissioners approves the Board

of Directors’ policy to uphold Wismilak’s growth

strategy that emphasizes sustainability. The

sustainability factor is clearly evident in the brand

equity enhancement efforts, but is also manifested

Lebih jauh, Direksi dapat mendorong inovasi

teknologi, terutama dalam pengembangan

sistem informasi manajemen melalui intensiikasi

penggunaan teknologi SAP, serta modernisasi lini

produksi SKM, sehingga Wismilak dapat bekerja

semakin eisien.

Direksi juga mendorong peningkatan produksi SKT

dengan membuka pabrik baru di Kertosono, Jawa

Timur, yang sekaligus juga membuka lapangan

kerja baru bagi masyarakat sekitar. Dewan

Komisaris ingin menggarisbawahi fakta bahwa

100% karyawan Wismilak dan anak perusahaannya

merupakan orang Indonesia.

Sejak awal, Wismilak memang diarahkan untuk

tumbuh bersama para pemangku kepentingannya.

Karena itu, Dewan Komisaris pun menghargai

kinerja Direksi yang meningkatkan keberlanjutan

program tanggung jawab sosial perusahaan

Wismilak.

Pandangan Atas Prospek Usaha

Direksi melihat prospek usaha tahun 2015 tetap

menjanjikan. Dengan proyeksi tingkat pertumbuhan

ekonomi yang masih baik, tingkat inlasi yang

terkendali, serta kenaikan tarif cukai yang berada

di bawah tahun-tahun sebelumnya, Direksi

berpendapat Wismilak dapat mempertahankan

tingkat pertumbuhan tahun 2014.

Dewan Komisaris menilai, prospek usaha ini

disusun atas dasar pemikiran yang realistis.

Upaya peningkatan ekuitas merek, peningkatan

produktivitas dan eisiensi, serta peningkatan

infrastruktur manajemen — termasuk

pengembangan sistem informasi manajemen —

mendukung prospek usaha tersebut.

(15)

Kinerja Komite Di bawah Dewan Komisaris

Terkait tata kelola perusahaan yang baik, Dewan

Komisaris juga mencatat perkembangan yang baik

dalam kinerja komite yang berada di bawah Dewan

Komisaris.

Komite Audit yang dipimpin Komisaris Independen

telah mengadakan tiga rapat Komite Audit untuk

mengevaluasi perkembangan kualitas pelaporan

Unit Audit Internal dan untuk merencanakan

pelaporan auditor eksternal, yaitu KAP Kosasih,

Nurdiyaman, Tjahjo & Rekan (Crowe Horwath).

Di samping itu, Komite Audit juga mengadakan

empat rapat dengan Unit Audit Internal, guna

meningkatkan kualitas pelaporan, mengawal

implementasi SAP, serta mengevaluasi kinerja

keuangan 2014.

Dewan Komisaris menyadari pentingnya komite

lainnya, seperti Komite Manajemen Risiko

dan Komite Nominasi dan Remunerasi, dalam

perkembangan perusahaan ke depannya. Namun,

dengan skala usaha dan ukuran perusahaan

saat ini, sistem manajemen risiko dan praktek

ketenagakerjaan yang dipimpin oleh Direksi masih

sangat memadai untuk menegakkan prinsip tata

kelola perusahaan yang baik.

Akhir kata,

Kami ingin menyampaikan penghargaan yang

sebesar-besarnya kepada para Pemegang Saham dan

Pemangku Kepentingan lainnya, atas kepercayaan

dan dukungan yang diberikan pada tahun 2014,

sehingga Wismilak dapat menjaga pertumbuhan

kegiatan usaha dan perusahaan dengan baik.

Semoga pencapaian ini semakin memperkuat

hubungan kita, demi pertumbuhan Wismilak yang

berkelanjutan, serta peningkatan kesejahteraan

yang kita raih bersama.

Performance of Committees under the BOC

Related to good corporate governance, the Board

of Commissioners also notes improvements in the

performance of committees under the Board of

Commissioners.

The Audit Committee under the leadership of the

Independent Commissioner has conducted three

meetings to evaluate the Internal Audit’s reporting

quality improvement and to plan the reporting of

the external auditor, namely the Public Accountant

Firm Kosasih, Nurdiyaman, Tjahjo & Rekan (Crowe

Horwath).

Furthermore, the Audit Committee has also

conducted four meetings with the Internal Audit

Unit to improve the quality of reporting, to advocate

the implementation of SAP, and to evaluate 2014

inancial performance.

The Board of Commissioners is aware about

the importance of other committees under the

BOC, i.e. the Risk Management Committee and

Nomination and Remuneration Commitee, for future

development of the company. However, the given

current business scale and size of the company, the

risk management system and manpower practices

as led by the Board of Directors still sufice to

uphold good corporate governance principles.

In closing,

We would like to extend our deepest appreciation

towards the Shareholders and all the other

Stakeholders for their trust and support throughout

2014, which enabled Wismilak to manage growth of

the business as well as the company.

May this achievement strengthen our relationship,

for the sake Wismilak’s sustainable growth, and

increased welfare for all of us.

(16)

Report of the Board

of Directors

Laporan Direksi

“In 2014, net sales

reached IDR 1,661.53

billion and efforts of

keeping growth at

sustainable level were

upheld”

(17)

Dear Shareholders,

Wismilak entered 2014 with the mission to

strengthen the foundation for sustainable growth.

In line with this mission, the Board of Directors

would like to report that improvement was made in

the production system, marketing network, brand

equity, as well as the management system and the

corporate social responsibility of Wismilak.

Financially, net sales increased from IDR1,588.02

billion in 2013 to IDR1,661.53 billion in 2014,

increasing by 4.63% and gross proit increased from

Rp 469.58 billion to Rp 483.81 billion, increasing by

3.03%. Since Wismilak went public in 2012, net sales

grew 21.85% (CAGR) while gross proit grew 26.02%

(CAGR).

Opportunities and Challenges of 2014

2014 provided both opportunities and challenges for

Wismilak. Economic growth continued its positive

growth momentum on the back of household

consumption. The 2014 General Elections, both

legislative and presidential, were conducted in

an orderly manner which provides assurance for

businesses. Both domestic consumption and the

election, which has been proven historically to drive

growth of cigarettes industry, were key opportunities

for Wismilak, in addition to the good tobacco and

clove harvest. Nevertheless, almost simultaneously,

challenges appeared in the form of using these

opportunities wisely, with the aim of maintaining

sustainable growth of the company and at the

same time strengthen the foundation for business

development. The Board of Directors handled the

opportunities and challenges conservatively, which

is relected in Wismilak’s key inancial indicators.

Production System

In 2014, Wismilak improved the performance of its

production system by adding new machines to the

existing MC production lines and opening a new HC

factory.

Para Pemegang Saham yang

Terhormat,

Wismilak memasuki tahun 2014 dengan misi

memperkuat landasan pertumbuhan yang

berkelanjutan. Sehubungan dengan misi ini, Direksi

dapat melaporkan perkembangan yang baik terjadi

dalam sistem produksi, jaringan pemasaran, ekuitas

merek, dan sistem manajemen, serta tata kelola

perusahaan dan tanggung jawab sosial.

Secara inansial, penjualan naik dari Rp 1.588,02

miliar pada 2013 menjadi Rp 1.661,53 miliar pada

2014, atau naik 4,63% dan laba kotor naik dari

Rp 469,58 miliar menjadi Rp 483,81 miliar, naik

3,03%. Sejak Wismilak menjadi perusahaan terbuka

pada 2012, penjualan bertumbuh 21,85% (CAGR)

sementara laba kotor bertumbuh 26,02% (CAGR).

Peluang dan Tantangan 2014

Bagi Wismilak, tahun 2014 menghadirkan peluang

dan sekaligus tantangan. Pertumbuhan ekonomi

meneruskan momentum pertumbuhan yang positif

berlandaskan pertumbuhan konsumsi rumah tangga.

Proses Pemilihan Umum 2014, baik untuk anggota

legislatif dan presiden, berhasil dilalui dengan baik

yang memberikan keyakinan bagi dunia usaha.

Konsumsi domestik dan juga Pemilu, yang secara

historis mendorong pertumbuhan industri rokok,

adalah kesempatan kunci bagi Wismilak, di samping

panen raya tembakau dan cengkeh yang baik.

Akan tetapi, pada saat yang bersamaan, tantangan

muncul dalam bentuk pemanfaatan peluang tersebut

secara bijak, dengan tujuan menjaga pertumbuhan

perusahaan secara berkelanjutan dan sekaligus

memperkuat landasan pengembangan usaha.

Direksi menyikapi peluang dan tantangan ini secara

konservatif, seperti yang dicerminkan oleh indikator

keuangan inti Wismilak.

Sistem Produksi

(18)

Report of the Board

of Directors (continued)

Laporan Direksi (lanjutan)

Sementara itu, demi pertumbuhan masa depan,

pabrik SKT baru meningkatkan kapasitas produksi

SKT Wismilak sebanyak 40% sehingga mencapai

672 juta rokok pada tahun 2014. Produksi pun

meningkat, yaitu dari 479 juta rokok pada tahun

2013 menjadi 671 juta rokok pada tahun 2014, atau

sebesar 40,08%.

Akan tetapi, produksi SKM mengikuti alur

perkembangan yang berbeda. Dengan alasan

strategis yang terkait sistem perpajakan produsen

berjenjang, produksi dijaga pada tingkat 1,67 miliar

batang pada tahun 2014, dibandingkan 2,07 miliar

batang pada tahun 2013, atau menurun 19,5%.

Penurunan ini tidak berdampak terhadap penjualan

Wismilak.

Pemasaran

Wismilak Diplomat mencapai usia 25 tahun pada

tahun 2014 dan pencapaian ini diperingati dengan

meluncurkan Wismilak Diplomat Special Edition.

Selain itu, upaya peningkatan ekuitas merek Wismilak

Diplomat juga dilakukan dengan meluncurkan

Wismilak Diplomat Mild Menthol.

Sementara itu, Wismilak dan anak perusahaan juga

mengembangkan jaringan pemasaran, sehingga

jumlah kantor cabang menjadi 19 dan jumlah stock

point menjadi 5.

Sistem Manajemen

Pada tahun 2015, Wismilak melanjutkan

pengem-bangan sistem ERP dengan teknologi SAP sehingga

sistem informasi manajemen pun semakin kokoh.

Selain memperdalam aplikasi teknologi SAP, Wismilak

juga membangun Disaster Recovery Centre (DRC).

Tata Kelola Perusahaan

Pada tahun 2014, penerapan prinsip GCG mencapai

kemajuan yang berarti di seluruh kelompok usaha

Meanwhile, for the sake of preparing future growth,

the new HC factory increased the HC production

capacity of Wismilak by 40% to reach 672

million cigarettes in 2014. Production increased

accordingly, from 479 million cigarettes in 2013

to 671 million cigarettes in 2014, or an increase of

40.08%.

However, MC production development followed

a different path. Due to strategic reason related

to the government's producer-tier tax system,

production was maintained at a lower level,

namely 1.67 billion cigarettes in 2014 compared

to 2.07 billion cigarettes in 2013, or a decrease of

19.5%. The lower production volume did not affect

Wismilak's sales.

Marketing

Wismilak Diplomat celebrated its 25th anniversary

in 2014 with the launching of Wismilak Diplomat

Special Edition.

Furthermore, efforts to enhance the Wismilak

Diplomat brand equity were sustained with the

launching of Wismilak Diplomat Mild Menthol.

Meanwhile, Wismilak and its subsidiaries also

developed its marketing network, so that the number

of branch ofices became 19 and the number of

stock points became 5.

Management System

In 2015, Wismilak continued its SAP

technology-based ERP system development to strengthen the

management information system further. In addition

to deepening the SAP technology application,

Wismilak also built a Disaster Recovery Center (DRC).

Corporate Governance

(19)

bergengsi “Forbes Asia Best Under A Billion” sebagai

satu dari 200 perusahaan menengah terbaik di

kawasan Asia.

Tanggung Jawab Sosial Perusahaan

Sementara itu, pelaksanaan tanggung jawab sosial

Wismilak pun semakin terarah, menuju kerja sama

antar Pemangku Kepentingan yang bersifat jangka

panjang, serta sesuai azas pembangunan yang

berkelanjutan.

Pada tahun 2014, kompetisi wirausaha tahunan

Wismilak, yaitu Diplomat Success Challenge,

diadakan untuk kelima kalinya berturut-turut.

Kompetisi ini merupakan satu dari lima pilar

program CSR “Wismilak Berbagi”, yaitu “Peduli

Wirausaha”. Adapun keempat pilar lainnya adalah:

“Peduli Budaya”, “Peduli Sosial”, “Peduli Pendidikan”,

dan "Peduli Olahraga".

Di samping itu, Wismilak juga menjalankan

tanggung jawab sosial perusahaan dalam bidang

tanggung jawab produk, ketenagakerjaan dan

pelestarian lingkungan.

“Forbes Asia Best Under A Billion” as one of the

Asian region’s best 200 midsized companies.

Corporate Social Responsibility

Meanwhile, the implementation of Wismilak’s

corporate social responsibility has improved and is

now heading towards long-term inter-Stakeholder

collaboration, in accordance with sustainable

development principles.

In 2014, Wismilak’s annual entrepreneurial

competition, namely Diplomat Success Challenges,

was held for the ifth consecutive time. This

competition is one of the ive pillars of the

“Wismilak Berbagi” CSR program, namely Peduli

Wirausaha. The other four pillars are Peduli

Budaya, Peduli Sosial, Peduli Pendidikan and Peduli

Olahraga.

Furthermore, Wismilak also implements its

(20)

Ronald Walla

President Director

Direktur Utama

Report of the Board

of Directors (continued)

Laporan Dewan Direksi (lanjutan)

Prospek Usaha 2015

Memasuki tahun 2015, Direksi melihat Wismilak

menghadapi prospek usaha yang mendukung

pertumbuhan yang berkelanjutan. Proyeksi tingkat

pertumbuhan ekonomi Indonesia sebesar 5,30%

(sumber: Mandiri Sekuritas Economic Outlook 2015),

tingkat inlasi yang terkendali, serta kenaikan tarif

cukai di kisaran 8%, di bawah rata-rata kenaikan

tarif cukai sebelumnya, menjadi dasar bagi Direksi

untuk menjaga pertumbuhan usaha pada tingkat

yang berkelanjutan.

Pada tingkat pertumbuhan yang berkelanjutan

ini, penjualan neto, total aset, total liabilitas, serta

ekuitas Wismilak diharapkan tumbuh setidaknya

seperti pada tahun 2014, yaitu berturut-turut di

kisaran 4-5%; 8-9%; 7-8%; dan 9-10%.

Para Pemegang Saham Yang Terhormat,

Direksi mengucapkan terima kasih yang

sebesar-besarnya atas kepercayaan dan dukungannya.

Direksi pun ingin mengucapkan terima kasih kepada

Dewan Komisaris atas arahan dan nasehatnya;

kepada para Karyawan atas dedikasi dan kerja

kerasnya; serta kepada para Pemasok dan Pemasar

atas dukungan dan loyalitasnya. Wismilak tidak

akan mampu tumbuh secara berkelanjutan tanpa

kebersamaan kita ini.

Semoga Tuhan YME memberkati niat dan upaya

kita.

Business Prospect of 2015

Entering 2015, the Board of Directors believes that

Wismilak faces a business prospect that supports

sustainable growth. The projection of Indonesia’s

economic growth at 5.30% (source: Mandiri

Sekuritas Economic Outlook 2015), acceptable

inlation rates, and the around 8% increase in

duty tariffs, which is below the tariff increase

in previous years, is the basis for the Board of

Directors to maintain the growth of the business at

a sustainable level.

At this level of sustainable growth, net sales, total

assets, total liabilities, and equity of Wismilak is

expected to grow at a level at least similar to 2014,

i.e. respectively: 4-5%; 8-9%; 7-8%; and 9-10%.

Dear Stakeholders,

The Board of Directors would like to express its

gratitude for your trust and support. The Board

of Directors would also like to thank the Board of

Commissioners for its direction and advice; the

Employees for their dedication and hard work;

and also to the Suppliers and Marketers for their

support and loyalty. Wismilak would not have

grown sustainably with this togetherness.

(21)

President Director

Director of Business Development

(22)

Wismilak has been recognized by Forbes Asia as

one of the leading 200 companies with assets

under US$ 1 billion in the Asia Paciic region. The

selection included 17,000 public companies, and

this recognition endorses Wismilak’s spirit of

developing a sustainable growth platform.

Wismilak diakui Forbes Asia sebagai satu dari

200 perusahaan dengan omset di bawah US$ 1

milyar terbaik di kawasan Asia Pasiik. Seleksinya

mencakup 17.000 perusahaan terbuka, dan

penghargaan ini semakin memacu semangat

Wismilak untuk mengembangkan landasan

pertumbuhan berkesinambungan.

Highlights of 2014

Sekilas Tahun 2014

Bangkok, Thailand, 9 December 2014: Ronald Walla as the President Director of PT Wismilak Inti Makmur Tbk accepts the Forbes Asia’s 200 Best Under A Billion recognition.

Bangkok, Thailand, 9 Desember 2014: Ronald Walla selaku Direktur Utama PT Wismilak Inti Makmur Tbk menerima penghargaan Forbes Asia’s 200 Best Under A Billion.

(23)

Surabaya, 1 April 2014: Diplomat Mild Menthol was launched to enlarge market share in the Mild Menthol MC segment.

Surabaya, 1 April 2014: Diplomat Mild Menthol diluncurkan untuk memperluas pangsa pasar di segmen SKM Mild Menthol.

Wismilak launched Diplomat Mild Menthol, a

variant of Diplomat Mild that was launched

in 2012. This product diversiication helped to

strengthen the sustainable growth platform by

enlarging Wismilak’s market share.

(24)

Responding to the continuously increasing HC

demand, Wismilak developed a new 3,047 m2

factory in Kertosono, equipped with buildings,

machines, ovens and ofices, and hosting 514

employees. The new factory was inaugurated on

18 August 2014

Mengimbangi permintaan SKT yang terus

meningkat, Wismilak mengembangkan pabrik

baru di Kertosono seluas 3.047 m2, lengkap

dengan gedung, mesin, oven, dan kantor, dan

menampung 514 karyawan. Pabrik baru ini

diresmikan tanggal 18 Agustus 2014.

Kertosono Factory

Highlights of 2014

Sekilas Tahun 2014

>

Kertosono, 18 August 2014: the factory was inaugurated and immediately started operations.

(25)

Using growth momentum wisely, Wismilak

developed its marketing network gradually: the

Tegal Stock Point was opened on 27 January,

Magelang on 8 September, the Jombang Area

Operational Ofice of the Sales & Distribution

Division on 15 September, and the Purwokerto

Stock Point became Area/Representative Ofice

of Gawih Jaya on 27 November 2014.

Memanfaatkan momentum pertumbuhan

dengan bijaksana, Wismilak mengembangkan

jaringan pemasaran secara berjenjang: Stock

Point Tegal dibuka 27 Januari, Magelang 8

September, Kantor Operasional Divisi Sales &

Distribusi Area Jombang 15 September, dan

Stock Point Purwokerto menjadi Kantor Area/

Perwakilan Gawih Jaya pada 27 November 2014.

Opening New Branch

and Stock Point

>

Gradually developing its marketing network, Wismilak opened 2 stock points and 2 branch ofices in 2014.

Mengembangkan jaringan pemasaran secara berjenjang, Wismilak membuka 2 stock point dan 2 kantor cabang pada tahun 2014.

(26)

Highlights of 2014

Sekilas Tahun 2014

Successfully strengthening the management

information system with SAP ECC 6.0, Wismilak

implemented the SAP Business Warehouse for

Sales Distribution, the SAP Finance & Controlling,

Business Intelligent - BOBJ for management,

and a Disaster Recovery Center (DRC) to uphold

business operation continuity.

Sukses memperkuat sistem informasi

manajemen dengan SAP ECC 6.0, Wismilak

mengimplementasikan Business Warehouse

SAP untuk Sales Distribution, Finance &

Controlling, Business Intelligent - BOBJ SAP untuk

manajemen, serta Disaster Recovery Center

(DRC) untuk menjaga dan menjamin kontinuitas

Deepening ERP

Implementation

>

Each quarter of 2014 was marked by deepened SAP implementation at Wismilak.

(27)

Wismilak’s commitment towards sustainable

growth was injected to entrepreneurs

through the Diplomat Success Challenge. This

annual innovative and creative business idea

competition has been held continuously since

2010, and in 2014 carried the theme “Successful

Character”.

Komitmen terhadap pertumbuhan

berkesinambungan Wismilak ditularkan kepada

wirausaha melalui Diplomat Success Challenge.

Kompetisi wirausaha tahunan dengan pencarian

ide bisnis inovatif dan kreatif ini berlangsung

terus sejak 2010, dan pada 2014 mengusung

tema “Karakter Sukses”.

Diplomat Success

Challenge 2014

>

Ronald Walla as Wismilak’s President Director and Surjanto Yasaputera as Head of the DSC Commissioner Board celebrated the Diplomat Success Challenge 2014 winners’ success together with the jury.

Ronald Walla selaku Direktur Utama Wismilak dan Surjanto Yasaputera selaku Ketua Dewan Commissioner DSC berbagi kebahagiaan dengan para juri dan pemenang Diplomat Success Challenge 2014.

(28)

Highlights of 2014

Sekilas Tahun 2014

Totally committed towards quality, down to the

smallest detail, since it was launched in 1989,

Wismilak Diplomat successfully guarded its

superior quality.

Total sampai detail terkecil dalam mencipta,

sejak diluncurkan pada tahun 1989 Wismilak

Diplomat sukses mempertahankan kualitas yang

terbaik.

25th Anniversary

Wismilak Diplomat

>

Wismilak Diplomat has been guarding its superior quality for 25 years! To commemorate this achievement and to share the success with the customers, Wismilak Special Edition 25 Years was launched on September 2014.

(29)

General Shareholder Meetings

and Public Expose

The 2014 Annual General Meeting of Shares of

PT Wismilak Inti Makmur, Tbk was successfully

held at Resto Nine, Jalan Mayjend Sungkono Nr.

83, Surabaya. Afterwards, at the same place,

the Board of Commissioners and the Board of

Directors held a public expose.

Rapat Umum Pemegang Saham Tahunan 2014

PT Wismilak Inti Makmur, Tbk berlangsung

sukses di Resto Nine, Jalan Mayjend Sungkono

No. 83, Surabaya. Kemudian, di tempat

yang sama, Dewan Komisaris dan Direksi

mengadakan acara public expose.

>

Surabaya, 20 May 2014: All Commissioners and Directors attended the Annual GMS of PT Wismilak Inti Makmur, Tbk.

Surabaya, 20 Mei 2014: Seluruh Komisaris dan Direktur menghadiri RUPS Tahunan PT Wismilak Inti Makmur, Tbk.

(30)

(31)

(32)

Sejarah merupakan bagian integral dari

identitas perusahaan Wismilak. Didirikan

pada masa transisi industri rokok kretek,

perusahaan ini menjembatani perkembangan

tradisi dan modernitas.

History is an integral part of Wismilak’s

corporate identity. Established during the

transitional period of the kretek cigarette

industry, this company has been bridging

tradition and modernity.

Corporate Data

Data Perusahaan

The head ofice building is the result of

expert restoration. Perfectly blended with the city’s history, the building is

one landmark of Surabaya Gedung kantor pusat merupakan hasil

restorasi yang ditangani para ahli. Menyatu dengan sejarah kota, gedung

ini merupakan salah satu landmark kota Surabaya

Head Ofice & Factory Address

Alamat Kantor Pusat & Pabrik Name

Registered Address Telephone Facsimile Email Website

Nama

Alamat Terdaftar Telepon

Faksimili Email Website

PT Wismilak Inti Makmur, Tbk.

Grha Wismilak, Jl. Dr Soetomo 27, Surabaya 60264 +62 31 2952 899

+62 31 2952 800

[email protected] www.wismilak.com

Company Address

Alamat Perusahaan

Grha

Wismilak

(33)

PT Gelora Djaja (Gelora Djaja) PT Galan Gelora Djaja (Galan) PT Gawih Jaya (Gawih)

Jl. Buntaran No. 9, Kel. Manukan Wetan, Kec. Tandes, Surabaya 60185 Jl. Surowongso No. 999, Karangbong, Gedangan, Sidoarjo 61254 Jl. Raya Darmo No. 42-44, Surabaya 60264

Subsidiaries Address

Alamat Entitas Anak

Bogor Jambi Tangerang

Perum Cimanggu Permai 1, Blok M, Jl. Borobudur No. 15, Bogor Jl. Haji Adam Malik Lorong Anggrek No. 1, Jambi

Komp. Taman Palma, Blok F5 No.6, Citra Raya, Tangerang Medan

Jl. Kompos 193 Km. 12, Medan

Jl. Mawar No. 40 Kel.Ujung Padang, Padang Sidimpuan Jl. Dr. M. Isa No. 2, Kel. Duku, Palembang

Jl. Caringin 273, Bandung Jl. Satria No. 2, Cirebon Jl. Tipar Cakung 27, Jakarta Jl. Mampang Prapatan 108, Jakarta Jl. Dr. Wahidin 137 , Semarang Jl. Diponegoro No. 129, Pati

Jl. Raya Solo Sragen Km 7 , Turisari Karanganyar, Solo * Jl. Kabupaten Km 3,8 No. 27 , Yogyakarta

Jl. Jafri Zam - Zam Komp. Grawiratama Rt 38, Banjarmasin Jl. Tanjung Sari 3 Blok D1 – D2, Surabaya

Jl. Sumatera No. 117, Jember Jl. IR. Sukarno No.39, Batu

Jl. Raya Trasak Km. 7 Larangan, Pamekasan Jl. Silimakuta No. 33, Pematang Siantar Jl. Tanjung No. 138, Jombang

Jl. Raya Baturaden No. 174, Purwokerto

Branch Ofices Address

Alamat Kantor Cabang

Stock Point Address

Menara Utara, 10th Floor-Suite 1003, Jl. Gatot Subroto 38, Jakarta 12710 +62 21 5296 3901/02

+62 21 5296 3909

Representative Ofice Address

Alamat Kantor Perwakilan

*) Perubahan alamat per 9 Februari 2015 saat proses pembuatan Annual Report

(34)

Memenuhi keperluan cetakan, PT Putri Gelora Djaja didirikan di Surabaya.

In line with business growth, PT Gawih Djaja was established in Surabaya to develop our cigarette industry.

printing, PT Putri Gelora Djaja was established in Surabaya.

Seiring pertumbuhan usaha, PT Gawih Djaja didirikan di Surabaya untuk

Gelora Djaja mulai memproduksi sigaret kretek mesin.

Peluncuran

Wismilak Diplomat Sigaret kretek tangan slim mulai diproduksi. Gawih mendirikan

divisi logistik.

1963

1979

1983

1987

₁₉₈₈

₁₉₈₉

1994

1995

2000

Milestones

Jejak Langkah

The forerunner of Wismilak, PT Gelora Djaja, a hand-rolled cigarette manufacturer, was established in Petemon, Surabaya by Lie Koen Lie, Tjioe Ing Hien, Tjioe Ing Hwa, and Oei Bian Hok.

Establishment of PT Wismilak Inti Makmur in Surabaya as holding company.

Establishment of PT Galan Gelora Djaja to match business growth

Pendahulu Wismilak, produsen sigaret tangan PT Gelora Djaja, didirikan di Petemon, Surabaya, oleh Lie Koen Lie, Tjioe Ing Hien, Tjioe Ing Hwa, dan Oei Bian Hok.

Pendirian PT Wismilak Inti Makmur di Surabaya sebagai perusahaan induk.

Pendirian PT Galan Gelora Djaja untuk mengimbangi perkembangan usaha.

In accordance to its latest articles of

association (as recorded in Notarial Deed

No. 24 or Yulia, S.H. dated 10 September

2012, Wismilak manages a cigarette

industry, particularly hand-rolled kretek

cigarettes (HC) and machine-rolled kretek

cigarettes (MC). Its ield of business includes

the production of cigarette lavoring, ilter

rods and other cigarette parts; marketing

and sales of cigarette products and

parts; and investing in kretek cigarette

manufacturers. Wismilak always strives to

comply to prevailing rules and regulations,

related to good manufacturing practices;

health, safety, and environment; corporate

governance; and others.

Sesuai anggaran dasar terbaru (tercatat

dalam Akta Notaris Yulia, S.H. No. 24 tanggal

10 September 2012, Wismilak mengelola

usaha industri rokok, terutama sigaret kretek

tangan (SKT) dan sigaret kretek mesin (SKM).

Bidang usahanya mencakup produksi bumbu

rokok, ilter dan kelengkapan rokok lainnya;

pemasaran dan penjualan produk rokok

dan kelengkapannya; serta penyertaan

pada produsen rokok kretek. Wismilak

senantiasa berupaya menaati peraturan

perundang-undangan yang berlaku, terkait

good manufacturing practices; kesehatan,

keselamatan, keamanan dan lingkungan; tata

kelola perusahaan; dan lain-lain.

Business Activity

(35)

The Bojonegoro, East Java factory commenced operations.

Wismilak's laboratory obtained the ISO 17025 certiicate Launching of Mild

MC's

Development of modern factory in Buntaran started.

Launching of Galan Mild.

Gawih established a Field Marketing Division

Wismilak conducted the initial public offering of its shares preceded by divestment of PT Putri Gelora Djaja. Jawa TImur mulai beroperasi.

jenis Mild Pembangunan pabrik modern di Buntaran dimulai.

Peluncuran Galan Mild.

Gawih mendirikan Divisi Field

Marketing. Wismilak _melakukan

penawaran saham perdana ke masyarakat di- dahului divestasi PT Putri Gelora Djaja. sistem ERP dengan teknologi SAP.

2002

2004

2005

2006

2008

2010

2012

2013

2014

Becoming a world-class industrial player

with premium quality products and

services through continous improvement

driven by integrity, teamwork, continous

development and innovation.

• Achieving success together through

cooperation with all stakeholders

(customers, shareholders,

employees, distributors, suppliers

and the public).

• Providing products and services with

the highest quality.

• Being responsible and committed

towards the community and

surroundings.

Berupaya menjadi pelaku industri kelas dunia

dengan keunggulan kualitas produk dan

jasa yang dihasilkan dengan pertumbuhan

berkesinambungan yang diperoleh melalui

integritas, kerja sama tim, pengembangan

yang berkelanjutan serta inovasi.

• Bersama meraih sukses melalui kerja

sama dengan semua pemangku

kepentingan (konsumen, pemegang

saham, karyawan, distributor, pemasok,

dan masyarakat).

• Menghasilkan produk dan jasa dengan

kualitas terbaik.

• Bertanggung jawab dan berkomitmen

terhadap lingkungan dan komunitas.

(36)

Organizational Structure

Struktur Organisasi

President Commissioner

Komisaris Utama

Willy Walla Head

Ketua

Edy Sugito

Commissioner

Komisaris

Indahtati Widjajadi Members_Anggota Herbudianto Felix Suhendar General Meeting of Shareholders

Rapat Umum Pemegang Saham

Board of Commissioners

Dewan Komisaris _{Audit Committee} Komite Audit

Board of Directors

Direksi

President Director

Direktur Utama Ronald Walla

Technical Director

Direktur Teknik Krisna Tanimihardja

Sales & Field

Factory Marketing Finance & Internal Audit

Director of Operations

Direktur Operasional Trisnawati Trisnajuwana

Director of Finance

Direktur Keuangan Lucas Firman Djajanto

Independent Director

Direktur Independen Hendrikus Johan

Corporate Secretary Sekretaris Perusahaan

Surjanto Yasaputera Director of Business Development

Direktur Pengembangan Usaha Sugito Winarko

Independent Commissioner

Komisaris Independen

(37)

Willy Walla

President Commissioner

Komisaris Utama

Indonesian Citizen, age 66

President Commissioner of the Company since 2012, appointed by the GMS dated 5 October 2012; also President Commissioner of PT Galan Gelora Djaja, and Commissioner of PT Gelora Djaja and Gawih Jaya; previously, President Director PT Wismilak Inti Makmur (1994 – 2012), PT Gawih Djaja (1983-2007), and PT Gelora Djaja (1986- 2007); graduated from Chelsea

College, University of London, in the ield of

Mathematics in 1972.

Afiliated to:

- Ronald Walla (President Director), father-son. - Stephen Walla (Shareholder), father-son.

Warga Negara Indonesia, 66 tahun

Komisaris Utama Perseroan sejak tahun 2012 sesuai Keputusan RUPS tanggal 5 Oktober 2012; juga Komisaris Utama PT Galan Gelora Djaja, ser-ta Komisaris PT Gelora Djaja dan PT Gawih Jaya; sebelumnya, pernah menjabat sebagai Direktur Utama PT Wismilak Inti Makmur Tbk (1994-2012), PT Gawih Djaja (1983-2007), dan PT Gelora Djaja (1986- 2007); menyelesaikan pendidikan di bidang matematik pada Chelsea College, University of London (1972).

Hubungan ailiasi:

- Ronald Walla (DIrektur Utama), ayah-anak. - Stephen Walla (Pemegang Saham), ayah-anak.

Indahtati Widjajadi

Commissioner

Komisaris

Commissioner of the Company since 2012, appointed by the GMS dated 5 October 2012; also Commissioner of PT Gelora Djaja (1984 – now), PT Gawih Jaya (1983 – now), and PT Galan Gelora Djaja (1983 – now); graduated from the California Polytechnic University in

the ield of chemical engineering in 1976 and

from Institut Sepuluh November, Surabaya in

the ield of chemical engineering in 1974.

Afiliated to:

- Gaby Widjajadi (Shareholder), mother- daughter.

Komisaris Perseroan sejak tahun 2012 sesuai Keputusan RUPS tanggal 5 Oktober 2012; juga Komisaris PT Gelora Djaja (1984-sekarang), PT Gawih Jaya (1983-sekarang), dan PT Galan Gelora Djaja (1983-sekarang); menyelesaikan pendidikan di bidang teknik kimia pada Cali-fornia Polytechnic University pada tahun 1976; sebelumnya memperoleh gelar Insinyur Teknik Kimia di Institut Sepuluh November, Surabaya (1974).

Hubungan ailiasi:

- Gaby Widjajadi (Pemegang Saham), ibu-anak.

Edy Sugito

Independent Commissioner

Komisaris Independen

Independent Commissioner of the Company since 2012, appointed by the GMS dated 5 October 2012; also President Commissioner PT Gayatri Kapital, Independent Commissioner of PT London Sumatra Indonesia, PT Dharma Satya Nusantara Tbk and PT Astra Otoparts Tbk.; previously, Director of Listing of PT Bursa Efek Indonesia (2005-2012), Director of PT Kliring Penjaminan Efek Indonesia (2000-2005), Director of PT Kustodian Sentral Efek Indonesia (1998-2000), and various other posts, starting with Auditor at Drs. Johan, Malonda & Partners/ Ernst & Whinney (1987-1988); graduated from Universitas Trisakti, with the degree of Bachelor of Accountancy (1991).

(38)

Ronald Walla

President Director

Direktur Utama

President Director of the Company since 2012, appointed by the GMS dated 5 October 2012; previously Commissioner of the Company (2008-2012) and President Director of PT Galan Gelora Djaja (2002-2007); graduated from the George Washington University (1999) in engineering management and from University of Maryland (1995) in computer science.

Afiliated to:

- Willy Walla (President Commissioner), father-son.

- Stephen Walla (Shareholder), brothers.

Competence enhancement

- Executive Workshop On Enterprise Risk Governance (CRMS Indonesia).

- Bali International Seminar On Enterprise Risk Management (CRMS Indonesia).

Direktur Utama Perseroan sejak tahun 2012 sesuai Keputusan RUPS yang dicatat dalam Akta Notaris Yulia, S.H. Nr. 7 tanggal 5 Oktober 2012; sebelumnya, Komisaris Perseroan (2008-2012) dan Direktur Utama PT Galan Gelora Djaja (2002-2007); menyelesaikan pendidikan di bidang engineering management pada George Washington University (1999) dan di bidang ilmu komputer pada University of Maryland (1995).

Hubungan ailiasi:

- Willy Walla (Komisaris Utama), ayah-anak. - Stephen Walla (Pemegang Saham), kakak-adik.

Pengembangan Kompetensi

- Executive Workshop On Enterprise Risk Governance (CRMS Indonesia).

- Bali International Seminar On Enterprise Risk Management (CRMS Indonesia).

Trisnawati Trisnajuwana

Director of Operations

Direktur Operasional

Director of Company since 2012, appointed by the GMS dated 5 October 2012; also Director of PT Gelora Djaja (2008-now); previously, Director of PT Gawih Djaja (2008 – 2011); graduated from Institut Teknologi Surabaya (1975) in chemical engineering.

Direktur Perseroan sejak tahun 2012 sesuai Keputusan RUPS yang dicatat dalam Akta Notaris Yulia, S.H. Nr. 7 tanggal 5 Oktober 2012; juga Direktur PT Gelora Djaja (2008-sekarang); sebelumnya, Direktur PT Gawih Djaja (2008-2011); menyelesaikan pendidikan di bidang teknik kimia pada Institut Teknologi Surabaya (1975).

Pengembangan kompetensi

Sugito Winarko

Director of Business Development

Director for the Company since 2012, appointed by the GMS dated 5 October 2012; also Commissioner of PT Gelora Djaja and PT Galan Gelora Djaja; previously, Director of PT Gelora Djaja (1983 – 2008); graduated from Technical University, Aachen, Germany (1976)

Afiliated to:

- Gitawati Winarko (Shareholder), cousins. - Gunawan Winarko (Shareholder), cousins. - Dipoyono Winarko (Shareholder), cousins.

Direktur Perseroan sejak tahun 2012, sesuai keputusan RUPS tanggal 5 Oktober 2012; juga Komisaris PT Gelora Djaja dan PT Galan Gelora Djaja; sebelumnya, Direktur PT Gelora Djaja (1983-2008); menyelesaikan pendidikan di Technical University, Aachen, Jerman (1976).

Hubungan ailiasi:

- Gitawati Winarko (Pemegang Saham), sepupu. - Gunawan Winarko (Pemegang Saham), sepupu. - Dipoyono Winarko (Pemegang Saham), sepupu.

Board of Directors Proile

(39)

Krisna Tanimihardja

Technical Director

Direktur Teknik

Director of the Company since 2012, appointed by the GMS dated 5 October 2012; also President Director of PT Gelora Djaja and PT Gawih Jaya; previously Director of PT Gelora Djaja (1996 – 2008) Krisna Tanimihardja graduated from Rheinisch-Westfalische Technische Hochschule Aachen, Germany (1975).

Direktur Perseroan sejak tahun 2012 sesuai Keputusan RUPS tanggal 5 Oktober 2012; juga Direktur Utama PT Gelora Djaja dan PT Gawih Jaya; sebelumnya, Direktur PT Gelora Djaja (1996-2008); menyelesaikan pendidikan di Rheinisch-Westfalische Technische Hochschule Aachen, Jerman (1975).

Pengembangan kompetensi

Lucas Firman Djajanto

Director of Finance

Direktur Keuangan

Director of the Company since 2012, appointed by the GMS dated 5 October 2012; also Director of PT Gawih Jaya; graduated from

Universitas Merdeka, Malang (1990) in the ield

of Economics.

Direktur Perseroan sejak tahun 2012 sesuai Keputusan RUPS tanggal 5 Oktober 2012; juga Direktur PT Gawih Jaya; menyelesaikan pendidikan di bidang ekonomi pada Universitas Merdeka, Malang (1990).

Hendrikus Johan S

Independent Director

Direktur Independen

Director of the Company since 2012, appointed by the GMS dated 5 October 2012; previously Marketing Manager of PT Jamu Iboe Jaya (2004 – 2011), Product Group Manager PT Jamu Iboe Jaya (2002 – 2004); graduated from Universitas