B E Y O N D

S T R AT EGY | VA LU E | L EG ACY

Annual Report 2024

Disclaimer and
Limitation of Liability
The AKR Annual Report for 2024 contains statements Throughout this Annual Report, the terms “the Company” and
regarding the Company's financial condition, operating “AKR” refer to PT AKR Corporindo Tbk and its subsidiaries,
results, policies, plans, projections, and objectives, in which operate in the fields of trading and distribution, logistics
accordance with applicable laws and regulations. services, manufacturing, and industrial estate development.

The statements presented are based on assumptions The report has been prepared in compliance with Law No. 40
concerning current conditions, future developments, the of 2007 concerning Limited Liability Companies, Chapter IV,
Company's business environment, and Management policies Section Two; Financial Services Authority Regulation (POJK)
and are also subject to risks and uncertainties that may differ No. 29/POJK.04/2016 concerning the Annual Report of
materially in actuality from those anticipated. The Company Issuers or Public Companies; and Financial Services Authority
is under no obligation to update these statements should Circular Letter (SEOJK) No. 16/SEOJK.04/2021 concerning the
circumstances, estimates, or opinions change. Form and Content of the Annual Report of Issuers or Public
Companies.

Annual Report 2024 1

Overview of the
2024 Theme

B E Y O N D
S T R AT EGY | VA LU E | L EG ACY

The logistics sector plays a vital role in supporting national As the majority shareholder of the JIIPE industrial estate, AKR
economic growth and ensuring energy security, with is preparing several initiative to enhance services, including
challenges such as infrastructure gaps, high costs, and power supply and energy storage solutions. Additionally, the
operational inefficiencies remaining significant obstacles. LNG Terminal project collaboration is being developed to
AKR provides strategic solutions, going beyond conventional secure gas energy availability in the Gresik area and East Java
strategies to create value and build a sustainable legacy. more broadly, with a particular focus on meeting the needs of
Through an integrated distribution network, ongoing JIIPE tenants. With world-class utilities and a deep-sea port
infrastructure investment, and strong competitive facility, JIIPE offers industrial players convenient access and
advantages, AKR improves supply chain efficiency and strategic connectivity. Designed with an integrated logistics
reduces logistics costs. Innovation is the driving force, with system, JIIPE simplifies export processes and reduces
sustainability as the strategic direction, and through this logistics costs to support competitive industrial growth.
AKR has reinforced its position as a relevant and visionary
industry leader. AKR has adopted the right strategies to create long-term value
for customers, partners, employees, the nation, society, and
AKR’s supply chain operations have a history of contributing shareholders. With proven experience, ongoing innovation,
to Indonesia. Supported by robust and comprehensive and a strong commitment to sustainability, the Company not
infrastructure, the Company distributes petroleum and basic only delivers efficient logistics solutions but also contributes
chemicals to industrial customers and has consistently proven to building a more resilient industrial ecosystem. Together
its ability to overcome industry challenges by providing with its stakeholders, AKR is creating added value, positively
efficient logistics solutions, expanding its role in accelerating impacting the national business climate, and supporting the
growth, and strengthening its competitive position. Beyond development of a better future.
meeting domestic needs, AKR also acts as a strategic partner
in enhancing Indonesia’s global competitiveness through
the Java Integrated Industrial and Port Estate (JIIPE) Special
Economic Zone in Gresik, East Java.

As a national strategic project, JIIPE SEZ continues to deliver

long-term, multi-faceted value for both AKR and Indonesia.
JIIPE has been recognized as the Best Industrial Special
Economic Zone by the Coordinating Ministry for Economic
Affairs of the Republic of Indonesia where, In 2024, the
largest single line copper smelter commenced operations
and is expected to spur the growth of downstream copper
industries which will create significant impacts for Indonesia's
Small and Medium Enterprises (SMEs).

2 Annual Report 2024

Annual Report 2024 3
Sustaining
the Theme

2023

Raising the Bar, Progressing Further

Supported by a significant track record of over sixty years,

AKR has continued to strengthen its position as a leader in the
logistics and supply chain sector. By expanding its distribution
network—from petroleum products to aviation fuel—and
optimizing the Java Integrated Industrial and Port Estate (JIIPE)
Special Economic Zone in Gresik, AKR continues to play a vital
role in developing an integrated supply chain ecosystem. This
strategy not only enhances competitiveness but also attracts
foreign direct investment. JIIPE’s world-class utilities and
facilities further support AKR’s business growth, particularly
amid Indonesia’s growing industrial downstreaming trends.
Through the implementation of ESG principles and a robust
business model, AKR successfully recorded a net profit of
Rp2,780 billion, representing a 16% increase from the previous
year. AKR’s consistent growth over the past five years reflects
its strategic vision, resilience, and strong adaptability to
business dynamics, reinforcing confidence in the Company’s
continued expansion in line with Indonesia’s future economic
growth.

2022

A Year of Growth and Resilience

2022 marked a significant milestone for AKR, with challenges

and opportunities successfully managed. Backed by a
strong business model and reinforced by the capabilities
of its human resources, technology, and financial strength,
AKR delivered positive results. Furthermore, the JIIPE Gresik
Special Economic Zone began to yield results, entering a
phase of asset monetization. This progress reflected in the
improvement of AKR's Return on Equity (ROE) to 21.9% and
Return on Assets (ROA) to 8.8%.

4 Annual Report 2024

2021

Developing a Sustainable Value to Grow with the Nation

AKR is committed to enhancing best practices in

Environmental, Social, and Governance (ESG) initiatives,
believing this will not only have a positive impact on the
Company but also on stakeholders as a whole. Therefore, AKR
is not only focused on increasing value for shareholders but
also strives to enhance its contribution to nation-building. By
leveraging its proven business model, supported by reliable
human resources and a tested information technology
platform, the Company is confident it can continue to grow
and develop in line with the national economy.

2020

Remaining Focused in Difficult Times

AKR maintained strong operational and financial performance

despite the challenges posed by COVID-19, demonstrating
adaptability and agility amid uncertainty. Business Continuity
Protocols enabled customer handling without disruption.
Investments made in the logistics network, new business
ventures, Information Technology platforms, and human
resources allowed management to swiftly adapt to the New
Normal. At the same time, management remained committed
to prioritizing best practices in Environmental, Social, and
Governance (ESG) initiatives.

Annual Report 2024 5

Vision and
Mission
Vision

To be the leading
provider of logistic
services and supply
chain solutions for
bulk chemicals and
energy distribution in
Indonesia.

AKR Beyond:
Maximising Opportunities and
Building a Legacy
AKR Beyond represents the Company’s commitment to executing the right
strategies, optimizing business operations, capturing growth opportunities in a
dynamic era, and building a sustainable legacy. Through innovation, synergy, and
advanced technology, AKR is strengthening its business foundation, creating long-
term value for stakeholders, and contributing to society and the environment.

6 Annual Report 2024

Mission

Optimizing our potential to build

sustainable stakeholders value.

Board of Commissioners and Board of Directors' Review and Approval of the Company's Vision and Mission

The Board of Commissioners and the Board of Directors constantly review the Company's Vision and Mission to ensure alignment
with long-term objectives. This process is formalized through a management contract, evaluated on an annual basis.

AKR Beyond in 2024

Strategy

• Expanding the industrial customer base

• Preparing for Expansion to Eastern Indonesia
• Driving the Growth of Retail Fuel Expansion
• Development of JIIPE SEZ in Gresik

Value

Responding to the challenges of Indonesia's logistics

industry and driving contributions to the national
economy.

Legacy

Creating added value and significant positive impact

through experience, reputation, and growth as a foundation
for moving forward and generating new, meaningful
contributions for Indonesia.

Annual Report 2024 7

World Recognition
of JIIPE SEZ

21
tenants
384 hectares
17%
Total Tenants Accumulated Land Sold JIIPE’s Contribution to the
and Leased Company’s Consolidated
Gross Profit

JIIPE’s success is supported by:

Preparedness and Commencing operation Special Economic Supportive

development of land, of the world's largest Zone (SEZ) status since downstream industry
port, utilities, and single-line copper 2021 and operational policies in Indonesia
infrastructure smelter by JIIPE's certification since 2022
anchor tenant,
(started in 2019 and
officially launched and
operational in 2024).

JIIPE Supports Clean and

Low-Carbon Energy

Provides Cleaner and Renewable Energy

Zero water discharge at Solar panels installed on the Gas-fired power plants will be a Water and Wastewater Treatment
industrial estate. rooftop of JIIPE’s utility center, source of electricity in addition to Facilities (WTP & WWTP) to
supporting usage of renewable high-voltage electricity from PLN. provide clean and recycled water
sources of energy. also reducing water run off.

8 Annual Report 2024

Strengthening Stability and Growth with a
Proven Business Model
AKR is a leader in the field of supply chain and logistics, as well as the developer of Indonesia’s largest integrated industrial estate
and port. The Company provides essential basic chemicals, energy products, and critical infrastructure to support industrial
development in Indonesia.

AKR Strengths

Proven Business Model Cost Efficiency

Disciplined Working Capital Management Investment in New Growth

AKR is committed to delivering added value for stakeholders, The Company has demonstrated its resilience through
realized through meeting the needs of industrial customers, the implementation of a robust business model and
acting as an extension of suppliers, operating in compliance comprehensive infrastructure, where the logistics network
with applicable regulations, and creating benefits for includes 13 seaports, 6 river ports, and storage tank facilities
shareholders and employees. and warehouse at 21 locations throughout the Indonesian
archipelago.

Tank Terminal Locations

13 Branches
Medan
19 Sea and River Ports
Pontianak

Tanjung Selor
Manado-Bitung

Buntok Palaran

Morowali
Palembang
Stagen
Banjarmasin
Lampung Jakarta-Priok

Ciwandan
Surabaya
Bandung
Semarang
Bali

Sumatera Java-Bali Kalimantan Sulawesi

46.100 KL 590.800 KL 154.600 KL 30.500 KL
• Medan Anggada • Banten Ciwandan • Pontianak • Morowali
• Medan Gabion • Jakarta Tank Terminal (JTT) • Buntok Muara Teweh • Bitung
• Palembang Andahanesa • Tj Priok • Banjarmasin
• Lampung • Bandung • Stagen – Kalsel
• Semarang Tj Emas • Palaran
• Surabaya Nilam Timur • Tanjung Selor
• Surabaya Nilam Utara
• Manyar - KEK JIIPE
• Anugrah Kreasi Pratama
Indonesia (AKPI)
• Terminal Nilam Utara (TNU)
• Bali

Annual Report 2024 9

10 Annual Report 2024
To drive efficiency and enhance the customer experience, international oil companies and the establishment of gas
AKR has developed an information technology platform that stations to distribute high-quality gasoline while supporting
enables end-to-end monitoring of movement, inventory the Indonesian government's efforts in providing subsidized
positions, and product conditions from upstream to petroleum to the public.
downstream, covering the entire process from the initial
transaction to delivery to end users. With its designation as a Special Economic Zone (SEZ), AKR
is focused on generating sustainable revenue at JIIPE by
The Company’s core business includes the trading and providing utility services including electricity, water, and gas—
distribution of petroleum and basic chemicals such as caustic as well as port operations, all of which are key drivers of the
soda, sodium sulfate, PVC resin, and soda ash, and expanding Company's long-term growth.
into the retail fuel sector through partnerships with leading

19 171 Fuel
Stations 822,000 KL
Seaports and River by AKR & bp AKR* Tank Storage Terminal
Ports *As of February 2025

14 Units 50,000 Sq.M

Vessels/SPOBs Warehouse Capacity

±250 Units
Petroleum and Chemical Tanker Trucks

Annual Report 2024 11

AKR Achievements
in 2024

Total Sales and Revenue

Rp
38,729 Billion
Trading and Distribution Trading and Distribution

Rp
28,934Petroleum Products
Billion
Rp
6,598
Basic Chemicals
Billion

Manufacturing Industrial Estate

Rp
652 Billion
Rp
1,381 Billion

Logistic Services

Rp
1,165 Billion

12 Annual Report 2024

 Total Assets EBITDA

Rp
33,109 Billion
Rp
3,115 Billion

Total Equity ROE

Rp
14,624 Billion 19%

Net Profit Net Gearing

Rp
2,225 Billion -0.04 Net Cash
x

Annual Report 2024 13

Reliable Sustainability,
Valuable Growth
AKR is committed to sustainable growth by creating a positive operations ensures that every decision supports growth that
impact on business, society, and the national economy. is not only financially rewarding but also creates meaningful
With this focus, AKR aims to deliver long-term benefits value for stakeholders.
to all stakeholders, ensuring equitable prosperity. The
Company participates in the development and provision of As part of AKR’s sustainability commitment—particularly in the
environmentally friendly alternative energy, contributes to areas of Environmental, Social, and Governance (ESG)— an
fair energy access, and supports efforts to reduce social and ESG Committee has been established to monitor and evaluate
economic inequality. the implementation of sustainability policies. Through this
oversight, all ESG initiatives and strategies are ensured to be
Sustainability lies at the core of the AKR business strategy, well-executed, create broad positive impacts, and reinforce
with every step focused on inclusive progress, improving the AKR’s position as a responsible company dedicated to
quality of life, and strengthening business competitiveness. building a better future for all stakeholders.
The Company believes that each sustainability initiative is
closely linked to the continuity of the business. Therefore,
integrating sustainability principles into every aspect of

2024 ESG Performance Achievements

E S G

• 156,438 GJ of renewable energy

• 2024 CSR Program realization
used in AKR’s operations • Updated share ownership
reached Rp10+ billion
• 53,596 tons of CO2e emissions reporting policy in accordance
• 21% of middle-upper
from Scope 1 and Scope 2 with POJK No. 4 of 2024 and
management positions held
• AKR emissions intensity the ASEAN Scorecard
by women
recorded at 0.015 tons CO2e/ • Zero legal violations in 2024
• Truck fleet recorded 12 billion
Rp million gross profit • Whistleblowing system
kilometers of accident-
• Total environmental socialization accessible to all
free travel
expenditure amounted to Company stakeholders
• Zero fatalities
Rp8.2 billion

ESG Rating by International Agencies

ESG Sustainalytics S&P Global CSA Main Index and ESG Index
20,3 Medium Risk Increased to 37, remaining Index LQ 45
above industry average
IDX 30
Investor 33
Bisnis 27
IDX Sharia Growth
Kompas100
Pefindo I-Grade 30
MSCI SMALL CAPS INDEX ISS ESG TOP 8 IDX ESG Star Listed Company
Performance Score 33,59
ESG Quality 45 IDX KEHATI
ESG Sector Leaders IDX KEHATI
IDX LQ45 Low Carbon Leaders

Corporate Emissions Calculation Transparency 2024

Platinum Category awarded by BGK Foundation

14 Annual Report 2024

Annual Report 2024 15
Table of
Contents
Disclaimer and Limitation of 1
Statement Letter of the 48 Management
Liability
Board of Directors and
Board of Commissioners
Discussion and
Overview of the 2024 Theme 2 Regarding Responsibility for Analysis
the 2024 Annual Report of
Sustaining the Theme 4
PT AKR Corporindo Tbk Economic and Industry 106
Vision and Mission 6 Review

AKR Beyond: Maximising 6 Operational Review 107

Opportunities and Building Company Financial Review 115
a Legacy
Profile Debt Payment Capability 127
World Recognition of JIIPE 8
SEZ General Information 54 Capital Structure and Capital 128
Strengthening Stability 9 Structure Policy
Brief History 56
and Growth with a Proven
Material Commitments for 129
Business Model Company Values 58 Capital Expenditure
AKR Achievements in 2024 12 Meaning of the Company 59 Realization of Capital 129
Logo Expenditure
Table of Contents 16
Company Milestones 60 Target and Realization 129
2024
Business Fields 62
Financial and Business Segments, 64
2025 Projections 130

Operational Products, and Services Employee and Management 131

Overview Membership in Associations 69
Share Ownership Program
(MESOP)
Financial Overview 20 Organizational Structure 70
Material Information and 131
Operational Overview 24 Board of Commissioners 71 Facts Occurring After the
Profile Date of the Accountant’s
Share Overview 24 Report
Board of Directors Profile 74
Dividend Overview 26 Business Outlook 132
Information on Changes in 81
Overview of Other Securities 26 Dividends 134
Management Members After
Awards and Certifications 28 Fiscal Year 2024
Marketing Aspects 135
Key Events 30 Executive Officers 82
Realization of Public Offering 136
Company Shareholder 86 Proceeds Usage
Composition
Material Information on 136
Management Share Listing Chronology 92 Investment, Expansion,
Report Information on Sukuk and 93
Divestment, Merger/
Consolidation, Acquisition,
Convertible Bonds
and Debt/Capital
Report of the Board of 34
Company Group Structure 94 Restructuring
Commissioners

Subsidiaries and Associates 95 Material Transactions 138

Report of the Board of 40
Involving Conflicts of Interest
Directors
Public Accounting Firm 97 and/or Transactions with
Related Parties
Capital Market Supporting 98
Institutions and Professions Changes in Laws and 140
Regulations
Company Website 100

Operational Areas and 102

Office Address List

16 Annual Report 2024

Changes in Accounting 140 Other Committees under 210
Policies Affecting the the Board of Commissioners
Company Established by the Company

Information Regarding Going 141 Supporting Committees of 211

Concerns the Board of Directors

Internal Control System 219

Risk Management 224

Business Support
Functions Legal Issues 229

Administrative Sanctions 229

Human Resources 143
Access to Company 229
Information and Data

Investor Relations and 230

Corporate Communication
Governance Code of Ethics and Conduct 232

Corporate Governance 156 Long-Term Performance- 235

Achievements Based Compensation Policy
for Management and/or
Commitment to Building 158 Employees
Corporate Governance
Anti-Corruption and 236
Corporate Governance 165 Gratification Policy
Implementation Assessment
Whistleblowing System 236
General Meeting of 166
Shareholders Efforts to Improve the 238
Quality of Corporate
Implementation of the 2024 169
Governance Implementation
GMS
Insider Trading Policy 238
Implementation of the 2023 173
GMS Information Technology 239
Governance
Board of Commissioners 177
Guidelines for Implementing 243
Independent Commissioners 183
Corporate Governance
Board of Directors 184 Principles

Independence and 191 Disclosure of Bad 265

Information Transparency of Governance Practices
the Board of Commissioners
and Board of Directors

Performance Evaluation of 198

Financial Statements 267
the Board of Commissioners
and Board of Directors Cross-Reference to SEOJK 428
No. 16/SEOJK.04/2021: Form
Nomination and 199
and Content of the Annual
Remuneration Policy for the
Report of Publicly Listed
Board of Commissioners and
Companies
Board of Directors

Supporting Committees of 202

the Board of Commissioners

Annual Report 2024 17

 01
Financial and
Operational
Overview
 Financial and Operational Overview

Financial
Overview
Consolidated Financial Position

In Billions of Rupiah

Description 2024 2023 2022 2021 2020

Net Working Capital 7,544 5,588 4,561 2,716 2,940

Investment in Associates 492 446 417 402 394
Current Assets 20,998 18,163 15,841 12,023 8,042
Non-Current Assets 12,111 12,134 11,346 11,486 10,641
Total Assets 33,109 30,297 27,188 23,509 18,684
Current Liabilities 13,454 12,575 11,280 9,307 5,102
Non-Current Liabilities 5,030 3,678 2,752 2,903 3,025
Total Liabilities 18,485 16,254 14,033 12,210 8,127
Equity Attributable to Owners of the
11,563 11,263 10,969 9,345 8,752
Parent Entity
Non-Controlling Interests 3,061 2,780 2,186 1,954 1,804
Total Equity 14,624 14,043 13,155 11,299 10,556

33,109
30,297 18,485
16,254
27,188
14,033
23,509
12,210
18,684

8,127

Total
Total Assets Liabilities
Rp Billions Rp Billions

2020 2021 2022 2023 2024 2020 2021 2022 2023 2024

14,624
14,043
13,155
24.7
11,299
21.9
10,556 19.2

11.9
Return on 10.6

Equity
Total Equity (ROE) %
Rp Billions %

2020 2021 2022 2023 2024 2020 2021 2022 2023 2024

20 Annual Report 2024

 Consolidated Profit (Loss) and Other Comprehensive Income

In Billions of Rupiah

Description 2024 2023 2022 2021 2020

Sales and Revenue 38,729 42,087 47,540 25,707 17,716

Gross Profit 3,509 4,473 4,252 2,293 2,048

Operating Profit 2,578 3,561 3,087 1,455 1,258

Net Profit for the Year 2,399 3,078 2,479 1,135 962
Profit for the Year Attributable to
2,225 2,780 2,403 1,112 925
Owners of the Parent Entity
Profit for the Year Attributable to Non-
174 298 76 23 37
Controlling Interests
Total Comprehensive Income for the
2,452 3,048 2,576 1,158 972
Year
Total Comprehensive Income for the
Year Attributable to Owners of the 2,254 2,761 2,453 1,126 929
Parent Entity
Total Comprehensive Income for the
Year Attributable to Non-Controlling 199 287 123 32 43
Interests
Earnings per Share (Full Rupiah) 112.73 140.87 121.77 56.32 46.71

47,540
3,561
40,087
38,729 3,087

2,578

25,707

17,716 1,455
1,258
Sales and Operating
Revenue Profit
Rp Billions Rp Billions

2020 2021 2022 2023 2024 2020 2021 2022 2023 2024

2,780
4,473
4,252
2,403
2,225
3,509

Profit for
2,293 the Year
2,048
Attributable to 925
1,122

Owners of the
Gross Profit Parent Entity
Rp Billions Rp Billions

2020 2021 2022 2023 2024 2020 2021 2022 2023 2024

Annual Report 2024 21

 Financial and Operational Overview

140,87 6,536

121,77 5,366

112,73

4,338

56,32 2,600
46,71
Earnings per 1,549
Share Cash Balance
Rp Rp Billions

2020 2021 2022 2023 2024 2020 2021 2022 2023 2024

Consolidated Cash Flow

In Billions of Rupiah

Description 2024 2023 2022 2021 2020

Net Cash - Operating Activities 1,347 3,502 2,629 2,945 1,067

Net Cash - Investing Activities (1,173) (584) (276) (208) (139)

Net Cash - Financing Activities (1,470) (648) (873) (1,683) (1,239)

Net Decrease in Cash and Cash
(1,296) 2,270 1,479 1,053 (311)
Equivalents
Effect of Foreign Exchange Rate
127 (72) 258 (2) 0
Changes
Cash and Cash Equivalents at
6,536 4,338 2,600 1,549 1,861
Beginning of Year
Cash and Cash Equivalents at End of
5,366 6,536 4,338 2,600 1,549
Year

Consolidated Financial Ratios

in % unless otherwise stated

Description 2024 2023 2022 2021 2020

Return on Total Assets 6.7 9.2 8.8 4.7 5.0

Return on Equity 19.2 24.7 21.9 11.9 10.6

Return on Revenue 5.7 6.6 5.1 4.3 5.2

Current Ratio (times) 1.6 1.4 1.4 1.3 1.6
Liabilities to Equity Ratio (times) 1.3 1.2 1.1 1.1 0.8
Liabilities to Total Assets Ratio (times) 0.6 0.5 0.5 0.5 0.4
Gross Profit Margin 9.1 10.6 8.9 8.9 11.6
Operating Profit Margin 6.7 8.5 6.5 5.7 7.1
Total Asset Turnover (times) 1.2 1.4 1.7 1.1 0.9
Net Gearing Ratio (times) -0.04 -0.16 -0.12 0.02 0.22
Price to Earnings Ratio (times) 13.6 10.1 9.2 12.6 10.9

22 Annual Report 2024

 6.6
9.2
8.8
5.7
5.2 5.1
6.7
4.3

5.0
4.7

Return on Return on
Revenue Total Assets
% %

2020 2021 2022 2023 2024 2020 2021 2022 2023 2024

0.22
1.6 1.6

1.4 1.4
1.3

0.02
2022 2023 2024

Net Gearing 2020 2021

-0.04
Current Ratio Ratio
times times
-0.12
2020 2021 2022 2023 2024
-0.16

1.3 88.7
1.2 61.6 61.6
1.1 1.1

0.8

53.3

51.5

Liabilities to Dividend
Equity Ratio Payout Ratio
times %

2020 2021 2022 2023 2024 2019 2020 2021 2022 2023

Annual Report 2024 23

 Financial and Operational Overview

Operational
Overview
Operating Segments by Sales and Revenue
In Billions of Rupiah

Description 2024 2023 2022 2021 2020

Trading and Distribution 35,532 38,213 44,698 23,712 16,219

Logistics Services 1,165 993 893 772 319

Manufacturing 652 558 800 684 376

Industrial Estate 1,381 2,323 1,149 539 319

Share
Overview
Share Trading Performance

AKR conducted its Initial Public Offering (IPO) on October 3, 1994, and listed its shares on the Indonesia Stock Exchange (IDX)
under the ticker code AKRA.

Description 2024 2023 2022 2021 2020

Market Capitalization (Rp Billion) 22,482 29,608 28,103 16,500 12,265

Highest Price (Rp) 1,865 1,670 1,580 944 798

Lowest Price (Rp) 1,075 1,200 685 554 281

Closing Price (Rp) 1,120 1,475 1,400 822 611
Trading Volume (Shares) 6,634,160,000 8,660,986,800 13,281,510,800 15,728,500,500 23,413,903,000
Total Outstanding Shares
20,073,474,600 20,073,474,600 20,073,474,600 20,073,474,600 20,073,474,600
(Shares)

Quarterly Share Performance

Share Price (Rp) Total Market

Trading Volume
Period Outstanding Capitalization
(Shares)
Highest Lowest Closing Shares (Shares) (Rp Billion)

2024

Quarter 1 1,825 1,475 1,720 1,741,810,000 20,073,474,600 34,526

Quarter 2 1,865 1,530 1,620 1,474,260,000 20,073,474,600 32,519

24 Annual Report 2024

 Share Price (Rp) Total Market
Trading Volume
Period Outstanding Capitalization
(Shares)
Highest Lowest Closing Shares (Shares) (Rp Billion)

Quarter 3 1,620 1,530 1,550 2,125,090,000 20,073,474,600 31,114

Quarter 4 1,650 1,075 1,120 1,293,000,000 20,073,474,600 22,482

2023

Quarter 1 1,650 1,200 1,550 2,364,381,600 20,073,474,600 31,114

Quarter 2 1,670 1,280 1,420 2,270,581,800 20,073,474,600 28,504

Quarter 3 1,560 1,255 1,545 2,547,584,300 20,073,474,600 31,014

Quarter 4 1,550 1,330 1,475 1,478,439,100 20,073,474,600 29,608

Share Trading Chart for 2023 – 2024

2,000 160,000,000

1,800 140,000,000

1,600 120,000,000

1,400 100,000,000

1,200 80,000,000

1,000 60,000,000

800 40,000,000

600 20,000,000

400 0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Des Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Des

2023 2024

Closing Volume

Corporate Actions

In 2024, the Company did not undertake any corporate actions affecting changes in shares, such as stock splits, reverse stock
splits, bonus shares, or changes in share nominal value.

Sanctions on Share Trading

As of the end of 2024, AKR has never been subject to any sanctions that could affect share trading activities on the Stock
Exchange where the Company’s shares are listed and traded, including trading suspensions and/or share delistings.

Annual Report 2024 25

 Financial and Operational Overview

Dividend
Overview
Dividends Dividend for Fiscal Year 2023 Dividend for Fiscal Year 2022

Cash Dividends Distributed (Rp Billion) 2,467 1,480

Dividend per Share (Rp) Rp125 Rp75
Dividend Payout Ratio (%) 88.73% 61.59%

2023 2022

Interim 1 Interim 2 Final Interim Final

Date of GMS
Resolution and 24 July 2023 23 October 2023 14 May 2024 22 July 2022 28 April 2023
Board of Directors’ Rp50 share Rp25 share Rp50 share Rp25 share Rp50 share
Decision
16 August 2023 15 November 2023 27 May 2024 16 August 2022 24 May 2023
Payment Date
Rp50 share Rp25 share Rp50 share Rp25 share Rp50 share

Overview of
Other Securities
As of December 31, 2024, the Company did not have any other outstanding securities listed on any Stock Exchange. Therefore,
information regarding such is not presented in this Annual Report.

26 Annual Report 2024

Annual Report 2024 27
 Financial and Operational Overview

Awards and
Certifications

1 Indonesia Biggest Companies 2024 4 TOP 3 Best Biodiversity Disclosure

Fortune Indonesia 100 7th Global Conference ESG Management & Sustainability

2 The Best Business Entity in Petroleum - Large Category 5 The Best Execution Winner in Distribution & Logistic
BPH Migas Awards 2024 Industry
SPEX2 Award 2024
3 The Best Logistics Company in Oil and Gas Distribution
Category 6 The Best Indonesia Annual Report Award 2024
Bisnis Indonesia Logistics Awards 2024 Gold Predicate (Excellent)
Economic Review

1 2 3

4 5 6

28 Annual Report 2024

7 Top 50 Big Capitalization Public Listed Company 2024 10 Sustainable Business Intergrity Index 2024
IICD
11 Best Place To Invest Sustainability
8 Top 20 GCG Awards 2024 SPEx2 Award 2024
The Iconomics
12 PELINDO Customer Awards 2024
9 Outstanding Achievement in Sustainability & Governance Category Change Maker Partner
SPEx2 Award 2024

7 8 9

10 11 12

Annual Report 2024 29

 Financial and Operational Overview

Key
Events

5 January 2024 28 February 2024

Establishment of PT Berkah Renewable Energi Nusantara Aquisition of Vessel 105

AKR and its subsidiary, PT Usaha Era Pratama, officially To support the development of its supply chain logistics
established a company engaged in the operation of business, AKR invested Rp210 billion in its subsidiary,
power plants and other energy-related activities, namely PT AKR Sea Transport, which was used to acquire Vessel 105
PT Berkah Renewable Energi Nusantara, in Gresik on January 5, to strengthen its transportation fleet. With this purchase, the
2024. Company now operates a total of 14 vessels.

14 March 2024 17 April 2024

Signing of Subsidized Energy Contract Establishment of Chemical Petroleum International Trading

Pte. Ltd
The Company continued to distribute subsidized energy
through the signing of the Fiscal Year 2024 contract with AKR established a subsidiary, Chemical Petroleum
the Ministry of Finance. AKR is committed to maintaining the International Trading Pte. Ltd (CPIT), in Singapore with 100%
government’s trust by ensuring strict oversight to guarantee ownership. CPIT is engaged in the trading and distribution of
accurate and targeted subsidy distribution in both volume and chemicals and petroleum products. The total issued and paid-
allocation. up capital amounts to USD 5,000,134.72

30 Annual Report 2024

 29 April 2024 1 July 2024

Dividend Distribution for Fiscal Year 2023 Operation of the World's Largest Single-Line Smelter

The General Meeting of Shareholders (GMS) approved the The growth of Indonesia's mineral downstream industry was
dividend distribution for the Fiscal Year 2023 totaling Rp2.48 marked by the inauguration of single-line copper smelter
trillion, equivalent to Rp125 per share. This dividend represents at JIIPE. This smelter will process 1.7 million tons of copper
88.74% of the net profit and reflects AKR’s commitment to concentrate per year, serving as a key material in the electric
delivering added value while demonstrating a strong financial vehicle ecosystem. The presence of this smelter also
performance and a healthy cash flow. strengthens the national industrial supply chain and enhances
the added value of domestic mineral resources.

19 July 2024 1 August 2024

Best Industrial Special Economic Zone Award for JIIPE Outstanding Achievement in Sustainability and Governance

The Java Integrated Industrial and Port Estate Special The Company was recognized at the SPEx2 Award
Economic Zone (JIIPE SEZ Gresik), a mega project resulting 2024, earning the titles of “Outstanding Achievement in
from the strategic partnership between AKR and PT Pelindo Sustainability & Governance” and “The Best Execution Winner
(Persero), was awarded Best Industrial Special Economic in the Distribution and Logistics Industry.” These awards
Zone by the Coordinating Ministry for Economic Affairs of the reaffirm AKR's commitment to sustainability, demonstrated
Republic of Indonesia. through concrete actions and well-defined strategies.

7 October 2024
Establishment of PT Terminal Energi Primer

AKR and its subsidiary, PT Usaha Era Pratama, signed the

establishment of PT Terminal Energi Primer, a company
engaged in warehousing, storage, and other activities related
to energy provision. PT Terminal Energi Primer was established
on October 7, 2024, and is based in Gresik.

Annual Report 2024 31

 02
Management
Report
 Management Report

Report of the Board

of Commissioners

Soegiarto
Adikoesoemo
President Commissioner

34 Annual Report 2024

 AKR has established a solid track record over
six decades in serving various segments of
industrial customers in Indonesia. With this
proven experience, the Company is expected to
continue contributing to the national economy,
emphasizing the optimization of resources,
enhancement of operational efficiency, and the
utilization of information technology to ensure
sustainable growth and create added value for all
stakeholders.

To the Esteemed Shareholders and Stakeholders,

With sincere gratitude, PT AKR Corporindo Tbk concluded On the policy front, central banks across major economies
2024 with commendable achievements. The Board have maintained tight monetary policies to curb inflation.
of Commissioners expresses appreciation for the Benchmark interest rates in key countries such as the United
commitment, dedication, and synergy of all parties who have States, the United Kingdom, and India remained high,
contributed to this success and respectfully presents this impacting global borrowing costs and posing risks of further
Commissioners’ Report. economic slowdown. Nonetheless, optimism regarding
economic stability has begun to rise, supported by signs of
In 2024, the Board of Commissioners supervised and supply chain recovery and moderating energy prices.
provided strategic guidance to the Board of Directors to
ensure management in accordance with the established The Board of Commissioners is satisfied that Indonesia’s
business plan and within the framework of sound corporate economy remained robust through 2024, with stable
governance. In fulfilling its duties, the Board upheld the growth and controlled inflation. However, external risks such
principles of objectivity and independence, in line with the as commodity price volatility and global financial market
Articles of Association and applicable laws and regulations. pressures must continue to be closely monitored. To sustain
growth, adaptive and responsive economic policies aligned
Economic Conditions in 2024 with global developments will be essential to the success of
the Company’s business and Indonesia’s economy. Key points
In recent years, the global economy has demonstrated strong provided as input by the Board of Commissioners include:
resilience amid various challenges, including geopolitical 1. The importance of flexible business strategies and
instability, shifts in monetary policy, and supply chain prudent risk management to ensure resilience and
disruptions. The World Economic Outlook report released competitiveness.
by the International Monetary Fund (IMF) in January 2025 2. Optimization of operational efficiency through digital
recorded global economic growth of 3.2% in 2024. However, transformation.
uncertainty remains, driven in particular by inflationary 3. Expansion of strategic partnerships with stakeholders.
pressures and evolving global trade dynamics. 4. Strengthening sustainability initiatives, including a 15%
reduction in carbon emissions through energy-saving
practices.

Annual Report 2024 35

 Management Report

Oversight of Strategy Implementation operational and financial performance, and compliance with
corporate governance principles. In addition, the Board of
To ensure that all policies and decisions align with the Commissioners reviewed performance reports from the
Company’s vision and mission, the Board of Commissioners Board of Directors to ensure alignment with the Company’s
is obliged to oversee the implementation of the Board of long-term interests.
Directors’ strategies. This includes evaluations of operational
and financial performance, as well as adherence to corporate Advice to the Board of Directors was provided in situations
governance principles, ensuring that strategic execution is requiring strategic decisions or responses to industry
grounded in prudence and sustainability that safeguard the and market dynamics, with the Board of Commissioners
Company’s stability and growth. actively contributing views that took into account risk,
sustainability, and operational efficiency. In addition, informal
Strategic Oversight and Direction by the Board of communication enhanced flexibility and responsiveness in
Commissioners: decision-making.
1. Performance and Strategy Evaluation: Regular discussions
and meetings with the Board of Directors are conducted As part of comprehensive oversight, the Board of
to review performance progress and the effectiveness of Commissioners coordinated with the Audit Committee as well
implemented strategies. as the Nomination and Remuneration Committee to ensure
2. Focus on Efficiency and Innovation: Emphasis is placed on deeper supervision across various operational aspects.
operational efficiency, business innovation, and readiness Through a combination of formal mechanisms and open
to navigate industry disruptions and market dynamics. communication, the Board remains committed to supporting
3. Risk Mitigation and Competitiveness Enhancement: the Board of Directors in managing the Company effectively,
Strategic guidance is provided to manage risks, strengthen ensuring regulatory compliance, and sustaining long-term
competitiveness, and reinforce the Company’s position in business growth.
the energy and logistics sectors.
4. Commitment to Sustainability: Oversight of the Assessment of Company and Board of Director
implementation of ESG (Environmental, Social, and Performance
Governance) strategies to ensure responsible and
sustainable growth. According to the Board of Commissioners, the Company has
5. Transparency and Accountability: Monitoring governance played a strategic role in supporting the supply chain and
practices by promoting transparency and accountability logistics of essential commodities crucial to industrialization
across all operational aspects. and energy production, particularly petroleum and basic
6. Long-Term Competitive Advantage: Upholding the belief chemicals. This role has grown in importance alongside
that a strong commitment to sustainability will generate Indonesia’s transition from an extraction-based economy
added value and enhance stakeholder trust. to a value-added country, which is driving increased energy
production and downstream industrial activities through
Looking ahead, close collaboration between the Board of smelter development.
Commissioners and the Board of Directors ensures that the
Company is well-positioned to continue its development and In navigating this shift, the Board of Directors has
deliver optimal value to stakeholders. demonstrated solid performance by ensuring the smooth
distribution and reliability of petroleum and basic chemical
Supervisory Mechanism and Frequency of Advice to the logistics services to support the rapidly growing industrial
Board of Directors sector. The Board of Commissioners appreciates the strategic
initiatives undertaken by the Board of Directors, including the
Supervision is conducted through various formal forums, optimization of logistics infrastructure, maintenance of energy
including regular meetings with the Board of Directors and supply stability, and expansion of services to strengthen AKR’s
the Committees under the Board of Commissioners. In 2024, position as a key partner in the energy and manufacturing
the Board of Commissioners held three (3) meetings and industry supply The Company’s performance achievements
conducted four (4) joint meetings with the Board of Directors, are attributable to the consistent leadership of the Board of
serving as a platform to evaluate strategy implementation, Directors, as follows:

Key Financial Performance Gross Profit Contribution by Segment

Sustained Profitability
Trading & Distribution Segment
Net Profit for the year 2024 of Rp2,225 billion, reflecting
The main contributor with gross profit of Rp2,629 billion.
sustained level of earnings.
Competitive Dividend Industrial Estate Segment
Dividend payout ratio exceeded 50%, with a dividend yield of Recorded gross profit of Rp597 billion contributing 17% of the
over 6% per annum, demonstrating a strong commitment to consolidated gross profit of the Company, indicating positive
profitability and sustainability. growth.
Robust EBITDA
Logistics and Manufacture Segments
Reached Rp3,115 billion, affirming financial stability supported
Recorded gross profit of Rp283 billion.
by a healthy balance sheet

36 Annual Report 2024

 Key Financial Performance
Healthy Financial Structure
Net gearing stood at -0.04x or net cash, indicating prudent
financial management.
Optimal Capital Return
Return on Equity (ROE) reached 19%, while Return on Assets
(ROA) stood at 7%, reflecting the effectiveness of operational
strategiesand risk management.

We recognize that the Company’s resilience and adaptability Nomination & Remuneration Committee Contributions:
demonstrated by the Company in responding to external 1. Conducted independent evaluations of the Board of
challenges, such as commodity price fluctuations and Directors and the Board of Commissioners, upholding best
global market dynamics, reflect the effectiveness of risk governance practices.
management practices. Therefore, with the Board of 2. Ensured an objective and merit-based selection process
Commissioners continuing to encourage the Board of for leadership positions, increasing executive retention
Directors to maintain this momentum by fostering innovation, rates by 10%.
strengthening collaboration with stakeholders, and
ensuring the implementation of to support the Company’s The Board of Commissioners appreciates the active role and
sustainable growth. contributions of each committee in providing analysis-based
recommendations that support strategic decision-making.
Assessment of Committees Under the Board of Moving forward, the Board of Commissioners will continue
Commissioners to ensure that both committees operate independently and
professionally, while strengthening coordination between
The Board of Commissioners assessed that the committees the committees and management to address increasingly
under supervision have optimally fulfilled their roles in complex business challenges.
supporting the effectiveness of the Company's oversight
function. The Audit Committee as well as the Nomination View on Corporate Governance Implementation
and Remuneration Committee have performed their duties
effectively in accordance with their respective mandates, Corporate governance at AKR improved significantly
ensuring that corporate governance policies and practices throughout 2024, with the Company ensuring that the
are consistently implemented in compliance with applicable principles of Ethical Conduct, Accountability, Transparency,
regulations. and Sustainability were applied across all operational lines,
including:
Audit Committee Contributions:
1. Ensured 100% compliance with financial reporting
transparency standards.
2. Strengthened internal control systems, reducing audit
discrepancies by 15% compared to 2023.
3. Enhanced risk management protocols, mitigating potential
financial and operational risks.

Key Corporate Governance Achievements in 2024

Review Charters of the Board of Directors

and the Board of Commissioners in
alignment with the latest regulations.

Received governance-related awards:

• Pelindo Customer Awards 2024
• BPH Migas Awards 2024
• Bisnis Indonesia Logistics Awards 2024

Dissemination of the Code of Conduct

to ensure compliance with integrity and
regulatory standards.

Updated share ownership reporting policy in

accordance with POJK No. 4 of 2024 and the
ASEAN Scorecard.

Annual Report 2024 37

 Management Report

Going forward, The Board of Commissioners will continue to Looking ahead, the Board of Commissioners emphasises
encourage the Board of Directors to maintain and enhance the importance of synergy across the Company’s business
governance standards, especially as the business challenges segments to generate broader growth impact—not only
and regulatory landscape become increasingly complex, for the Company but also for the industry, workforce, and
strong corporate governance will remain a key factor in surrounding communities. By leveraging competitive
sustaining the Company’s competitiveness within the industry advantages and optimising existing business potential, the
and unlocking new opportunities for sustainable growth. Company is expected to continue contributing to inclusive
Accordingly, the Board of Commissioners will ensure that and sustainable economic growth.
governance remains a top priority in strategic decision-
making to safeguard business continuity and long-term value Changes in the Composition of the Board of Commissioners
for all stakeholders.
As of 31 December 2024, the composition of the Board of
View on Business Outlook Commissioners remained unchanged, with the following
members:
The Board of Commissioners has assessed that the Company’s
business outlook for 2025 remains positive, supported by the Name Position
strategic role of the logistics sector, which is expected to drive
national economic growth. With the continued development President
Soegiarto Adikoesoemo
of industrial downstreaming and increasing demand for Commissioner
efficient supply chains, the Company is well-positioned to Sofyan A. Djalil Commissioner
optimize its capabilities in petroleum trading and distribution,
as well as industrial estate management. Independent
Muhammad Fauzi Maulana Ichsan
Commissioner
Nevertheless, the Board of Commissioners also notes
challenges within the logistics sector, such as infrastructure Closing and Appreciation
gaps, the need for enhanced operational efficiency, and
regulatory harmonization, all of which require attention to The Board of Commissioners extends its highest appreciation
ensure the Company’s competitiveness is maintained. To to the Board of Directors and the entire management team
capitalise on opportunities and address these challenges, for their hard work, dedication, and commitment in executing
the Board of Directors has formulated the following strategic business strategies effectively amidst global economic
initiatives for 2025: challenges and evolving industry dynamics. Gratitude is also
1. Expansion into eastern Indonesia expressed to shareholders, business partners, customers, and
2. Development of JIIPE Gresik SEZ as an industrial all stakeholders for the continued support and trust placed in
investment hub the Company.
3. Enhancement of logistics infrastructure through storage
terminals and transport fleets The achievements of 2024 are the result of strong
4. Strengthening of information technology with collaboration, effective corporate governance
operational monitoring systems to improve efficiency and implementation, and the business resilience built over the
workplace safety past six decades. The Board of Commissioners will continue to
5. Oversight of strategy implementation to ensure alignment carry out its oversight function and provide strategic guidance
with governance principles and value creation to ensure the Company remains on a path of sustainable and
competitive growth.

Jakarta, 4 April 2025

On Behalf of the Board of Commissioners

Soegiarto Adikoesoemo
President Commissioner

38 Annual Report 2024

Board of
Commissioners

Fauzi Ichsan Soegiarto Adikoesoemo Sofyan A. Djalil

Independent Commissioner President Commissioner Commissioner

Annual Report 2024 39

 Management Report

Report of the Board

of Directors

Haryanto
Adikoesoemo
President Director

40 Annual Report 2024

 As an integrated logistics and supply chain
Company, AKR continues to adapt to the
evolving dynamics of the industry, committed
to sustainable growth by creating added value
for shareholders, the state, customers, business
partners, communities, and the environment, and
supported by robust infrastructure and a proven
business model. Successfully maintaining this
positive performance, the Company delivered
sustained profitability with net profit FY 2024 of
Rp2,225 billion.

Esteemed Shareholders and Stakeholders,

First and foremost, gratitude is extended to God Almighty Macroeconomic Analysis

for the blessings and grace that enabled PT AKR Corporindo
Tbk (AKR) to conclude 2024 with strong performance Worldwide social and political uncertainties in 2024 placed
achievements. It is an honour for the Board of Directors to pressure on global economic stability, weakening consumer
present the Company’s Performance Report for the 2024 purchasing power in Indonesia and disrupting trade flows. The
Fiscal Year. IMF has warned of the risk of long-term economic stagnation,
nevertheless, Indonesia’s 2024 economic growth remained
Since its establishment in 1960, AKR has navigated various within the range of 4.95% to 5.11%, with a realization of 5%.
industry challenges and dynamics, further solidifying its
position as a leading player in the logistics, trading, and energy Amidst relatively stable national economic growth, Indonesia
distribution sectors. The Company has recorded a net profit continues to face challenges in maintaining the stability
CAGR of 16% since 2005—an achievement made possible of domestic petroleum supply and pricing as fluctuations
by the dedication and excellence of all AKR personnel, whose in global oil prices, global energy transition policies, and
contributions have driven improvements in both financial and geopolitical dynamics have had a direct impact on domestic
operational performance. petroleum pricing. Despite this, AKR has reinforced its role in
ensuring efficient energy availability and distribution through
AKR’s 2024 Annual Report carries the theme “Beyond Growth,” an integrated logistics infrastructure and adaptive risk
reflecting the Company’s commitment to continuous, management.
sustainable growth by delivering added value to stakeholders.
The Company focuses on six key pillars in its business The integrated logistics infrastructure applies in 21 strategic
development: shareholders, the state, customers, business locations across Indonesia as AKR distributes basic chemicals
partners, communities, and the environment. Through this and petroleum through a network of storage tanks, ports,
approach, the Company strives to generate greater benefits trucks, and vessels. Real-time monitoring of inventory at
and create broader positive impact, in line with the principles each location enables improved distribution efficiency and
of responsible and sustainable growth. reduced logistics costs. In addition to physical infrastructure,
soft infrastructure through trained human resources, strict
AKR’s role as a provider of end-to-end supply chain solutions implementation of Standard Operating Procedures (SOPs),
enhances connectivity between energy supply and demand and the utilization of information technology ensures
centres across the nation, supported by a comprehensive operational reliability and safety.
information technology system. By ensuring energy supply
stability, AKR contributes to national energy security and
economic stability. In addition, the integrated Java Integrated
Industrial and Port Estate (JIIPE) holds significant potential
to accelerate industrialisation in Indonesia, attract new
investment opportunities, and enhance the competitiveness
of the national industry.

Annual Report 2024 41

 Management Report

The government continues to promote energy transition 2. Advancing the Potential of JIIPE Gresik SEZ as Part of the
efforts, increasing the biodiesel mandate from B35 to B40 Global Supply Chain
in the near future. This aims to reduce dependence on fossil JIIPE Gresik SEZ has been recognized as Indonesia’s
petroleum and AKR supports the implementation of this top industrial estate, further enhancing the country’s
initiative by ensuring infrastructure readiness and a reliable attractiveness as an industrial investment destination.
supply chain for biodiesel distribution across industrial and Its potential is being maximized not only through land
transportation sectors. monetization but also through business expansion
in utility services—such as electricity, water, gas, and
As an integrated logistics and supply chain company, environmentally friendly and renewable energy.
AKR continues to maintain its relevance amid economic
uncertainty. Supported by robust infrastructure and a proven As the majority shareholder of JIIPE, the Company is also
business model, the Company has successfully sustained net preparing several subsidiaries to strengthen services
revenue growth and profitability at higher levels than in the in power and energy storage sectors, including the
past five years. establishment of PT Berkah Renewable Energi Nusantara
and PT Terminal Energi Primer. With the commencement
2024 Performance Analysis of operations copper smelter—one of the largest in the
world—an ecosystem of copper-based and downstream
Challenges and Strategic Initiatives industries is taking shape, with large tenants ready to
AKR continues to maintain optimal service levels in petroleum absorb its output. In addition, job absorption continues
and basic chemical logistics through robust service to increase with the operation of anchor tenants in JIIPE.
level agreements and competitive pricing. Additionally, In 2024, JIIPE surpassed its job creation target, achieving
the Company continues to enhance services within the over 100%, making it one of the best-performing SEZs in
JIIPE Special Economic Zone (SEZ) in Gresik by providing employment generation.
international standard industrial utilities, including power
generation, water distribution systems, wastewater treatment, 3. Driving the Expansion of Retail Petroleum Distribution
and advanced information technology infrastructure. The ongoing shift toward emission reduction and a
low-carbon economy is expected to increase the use
To support optimal performance and address existing of biodiesel as an alternative energy source and raise
challenges, the Board of Directors has formulated strategic demand for high-quality petroleum. The Company remains
policies focused on improving operational efficiency and committed to supporting the government’s subsidised
optimizing the supply chain which in 2024 included: petroleum distribution program by providing affordable
1. Preparing for Expansion into Eastern Indonesia fuel to the public, while actively expanding its retail
The Company’s customer base spans various industrial petroleum market. As of February 2025, the Company has
sectors across Indonesia. The petroleum and basic been operating 107 AKR-branded outlets and 64 bp AKR
chemical trading and distribution segments are expected outlets across Jabodetabek, East Java, and West Java.
to grow in line with increased mining activity and the
development of new smelters—particularly for nickel, The Board of Directors’ Role in Strategy Formulation and
copper, alumina, and others—driving demand for basic Oversight of Strategic Policies
chemicals in regions such as Sulawesi, Maluku, and other
parts of Eastern Indonesia. Supported by integrated supply The Board of Directors ensures that all operational
chain logistics assets, a solid business model, and IT-based activities remain aligned with established strategic plan,
risk monitoring systems, the Company has demonstrated with implemented strategies responsive to business
its ability to grow efficiently and effectively. Moving developments fostering optimal synergy within the
forward, AKR will continue to expand by leveraging its Company’s business ecosystem.
competitive advantages, including capacity enhancement
at major ports in Kalimantan. As part of its oversight and performance evaluation, the Board
of Directors regularly conducts coordination meetings to
review the implementation of strategic initiatives. In 2024,
eleven (11) such meetings were used to evaluate results,
identify challenges, determine necessary corrective actions,
and ensure that all business units operate in accordance with
the Company’s vision and mission.

42 Annual Report 2024

In addiction to overseeing the execution of strategy, the Board AKR’s Financial and Operational Achievements in 2024
of Directors also ensures that performance realization aligns
with the agreed budget plan, as disciplined and well-planned AKR continued to leverage the growth of new economic
budget management is a key factor in maintaining financial centres in Indonesia in 2024. In line with government policies
stability and supporting sustainable business growth. With this on industrial downstreaming, the Company undertook
approach, the Board of Directors is committed to upholding strategic expansion in Eastern Indonesia to support
the principles of corporate governance and creating added sustainable growth, with the strong financial and operational
value for all stakeholders. performance summarized in the following table:

Financial Performance Operational Performance

1. Financial Profitability and Efficiency 1. Business Expansion and Opportunity Utilization

a. Profit exceeded Rp2 trillion, remaining at a high growth a. Leveraged the growth of new economic centres in
level compared to the 2019–2022 average. Indonesia.
b. Return on Equity (ROE) stood at 19% and Return on b. Undertook strategic expansion in Eastern
Assets (ROA) at 7%. Indonesia in line with the government’s industrial
c. EBITDA reached Rp3,115 billion with a healthy balance downstreaming policy.
sheet and net gearing of -0.04x (net cash).
2. Development of JIIPE Industrial Estate
2. Revenue Comparison and Segment Contribution a. Attracted strategic tenants to build an integrated and
a. Revenue in 2024 amounted to Rp38,729 billion, down competitive industrial ecosystem.
8% from Rp42,087 billion in 2023, influenced by b. Added two new subsidiaries to provide electricity and
average selling price normalization and macroeconomic energy storage services within JIIPE.
conditions. c. The industrial estate segment recorded gross profit of
b. Segment contributions to total revenue: Rp597 billion.
• Trading & Distribution: Rp35,532 billion (92%)
• Industrial Estate: Rp1,381 billion (4%) 3. Retail Petroleum Expansion
• Logistics: Rp1,165 billion (3%) a. Expanded bp AKR petroleum stations to meet rising
• Manufacturing: Rp652 billion (2%) fuel demand.
b. Strengthened AKR’s position in the national energy and
3. Segment Growth and Diversification logistics sectors.
a. Continued growth in the trading and distribution
segment and industrial land sales over the past 5 years. 4. Business Synergy for Downstreaming
b. Development of JIIPE SEZ supports recurring income a. Horizontal synergy through joint ventures and the
through utility services. establishment of new businesses.
b. Vertical synergy among departments to enhance
4. Business Resilience and Strategy operational efficiency.
a. Sales volume of petroleum and basic chemicals
remained stable.
b. Successful diversification strategies maintained growth
momentum.

Looking ahead, AKR aims to capitalize on every growth Additionally, AKR formed joint ventures with bp to develop
opportunity by prioritizing sustainability, operational the retail petroleum and aviation petroleum business, and
efficiency, and strong corporate governance. With a Petronas for chemical distribution in Indonesia. The success
solid business foundation, a focused expansion strategy, in attracting these partners is attributed to an extensive
and a commitment to developing logistics and energy distribution network and strong corporate governance
infrastructure, the Board of Directors remains confident in the practices.
company’s ability to sustain strong performance and deliver
long-term value to all stakeholders. Dividend Distribution
Over the past seven years, AKR has delivered a dividend yield
Corporate Governance Implementation of over 6% per annum, offering attractive returns to investors,
and reflecting the Company’s commitment to corporate
The Board of Directors recognizes that the Company’s governance, transparency, and accountability, which not only
achievements are a reflection of effective governance support profitability growth but also deliver optimal value to
practices, upheld not only as a regulatory requirement but shareholders and business partners.
also as an integral part of the Company’s culture in creating
long-term value for stakeholders. Regulatory Compliance
In 2024, the Company implemented improvements guided by
Strategic Partnerships the Indonesian Code of Corporate Governance (PUGKI) 2021,
In building a sustainable business, AKR has established POJK No. 21/POJK.04/2015, SEOJK No. 32/SEOJK.03/2021,
strategic partnerships with global entities. One key milestone and the ASEAN Corporate Governance Scorecard, ensuring
was the development of independent petroleum storage alignment with prevailing best practices.
terminal in Tanjung Priok in collaboration with Royal Vopak.

Annual Report 2024 43

 Management Report

Enhancement of the Code of Conduct and Charters of the The Company also upholds the principle of inclusivity, where
Board of Directors and Board of Commissioners every individual—regardless of gender, religion, race, or
Following the update to the Code of Conduct in 2023 as ethnicity—is provided with equal opportunities for growth.
part of strengthening the internalisation of corporate values, This principle promotes collaboration, mutual respect, and
the Company conducted a Code of Conduct dissemination objective team empowerment as part of the corporate
to all personnel at the beginning of 2024 to reinforce culture, enabling AKR to foster a conducive work environment
understanding and implementation of corporate governance and strengthen employee loyalty.
principles across all operations. In addition, the Company
revised the Charters of the Board of Directors and the Board of With a strong commitment to human resource development,
Commissioners to align with the latest governance guidelines, the Company aims to cultivate a workforce that is not only
clarifying their roles in promoting sustainable business, technically competent but also adaptive, innovative, and
strengthening transparency, and preventing potential highly competitive through continuous investment in training,
conflicts of interest—thereby reinforcing the Company’s cultural reinforcement, and inclusive practices. This ensures
accountability. that every employee has the opportunity to grow and
contribute meaningfully.
Optimisation of the Internal Control System
As part of its commitment to corporate governance, AKR Information Technology Optimization
has implemented a comprehensive internal control system
covering both financial and operational aspects to improve The Company maximizes Information Technology (IT) to
operational discipline and ensure that all business activities enhance operational efficiency, particularly in distribution
are conducted in line with the principles of transparency, planning, transportation scheduling, and product quality
accountability, and sustainability. monitoring. The implementation of an integrated digital
system enables full accountability around the clock, allowing
In 2024, the Internal Audit Unit issued 580 recommendations for more effective and efficient asset optimization, while
aimed at enhancing operational effectiveness and efficiency. contributing to improved service quality across Indonesia.
By year-end, 87% or 507 of these recommendations had
been implemented, with the remainder still in progress. In 2024, the Company integrated Artificial Intelligence (AI)
technology, including the installation of dashboard cameras
AKR Whistleblowing System in trucks to monitor drivers’ health and fatigue levels, and
The Board of Directors emphasizes the importance of a the fleet is now equipped with external cameras to detect
whistleblowing system as part of its efforts to maintain potential fraud and road accidents. These measures not only
transparency and integrity in business operations. This enhance efficiency and workplace safety but also support the
mechanism allows issues to be reported directly to the implementation of corporate governance through a reliable IT
President Director for immediate action, identifying problems system. Real-time monitoring has proven effective in reducing
and proactively seeking appropriate solutions to ensure a driver violations while improving safety and compliance with
healthy and integrity-driven business. operational standards.

Human Resource Management The IT Department continues to strengthen cybersecurity

and data privacy through regular audits. The Company also
Reliable human capital is a key asset and a critical success collaborates with external parties to implement stringent IT
factor in realizing the Company’s vision and mission and security standards, ensuring optimal data protection. As part
development in this area enhances both hard and soft skills, of its risk mitigation efforts, continuous monitoring of the Data
while ensuring that every employee internalizes corporate Center and Disaster Recovery Center delivers operational
values to be prepared for future challenges. In addition to resilience.
improving technical competencies, the Company equips
employees with analytical, leadership, and effective AKR plans to adopt generative AI and expand AI agents for
communication skills to support optimal performance. various tasks to better integrate business process visualization
while simplifying and accelerating workflows. With this
Mastery of technical skills, analytical capabilities, and risk strategy, AKR is well-prepared to navigate the increasingly
mitigation are prioritised in the human capital training dynamic industry landscape and to continue innovating in
curriculum implemented throughout 2024. By nurturing top order to enhance competitiveness in the digital era.
talent through targeted development, the Company achieved
an internal succession rate of 42%.

44 Annual Report 2024

 Corporate Social Responsibility

The Board of Directors is fully committed to Environmental, Social, and Governance (ESG) principles and supporting
the achievement of the Sustainable Development Goals (SDGs).

Throughout 2024, AKR mapped and implemented the Through the JIIPE SEZ, the Company is creating
following sustainability initiatives: employment opportunities and recruiting high-potential
1. Community Engagement local talent. In addition, support is provided to operational
The Company actively participated in social assistance and employees and their families in need through the Heart and
community development initiatives, particularly in areas Mind program. The Company believes that strong synergy
surrounding its operations. These efforts included the with employees’ families helps reinforce motivation and
construction of public facilities, collaboration with local performance.
governments on environmental preservation, community
empowerment, blood donation program, and the 4. Employee Health and Safety
provision of mobile clinics to improve healthcare access in In 2024, AKR recorded zero fatalities and zero major safety
remote areas. incidents, reflecting its strong commitment to workplace
safety and a compliance-driven operational culture.
2. Energy Resilience and Environmental Conservation The Company enhanced occupational health and safety
As a reflection of its commitment to environmental through the implementation of AI-powered monitoring
sustainability, AKR received the award for Best systems, including 24-hour surveillance via control towers
Environmental Management in the Other Business to prevent accidents and document potential fraud.
Entity Category from the Directorate General of Sea Regular medical check-ups are also conducted to ensure
Transportation, Ministry of Transportation of the Republic early detection of health issues and to maintain optimal
of Indonesia. The Company also carried out tree-planting physical well-being.
programs in its operational areas, including around PT
Berkah Kawasan Manyar Sejahtera (BMKS), by optimizing 5. Inclusivity and Governance Development
green spaces within industrial zones and initiating coastal Gender equality is a key component of the Company’s
greening through mangrove plantations. sustainability strategy. AKR is among the few companies in
the energy sector to have achieved female representation
The Company supports the implementation of biodiesel of 21% at middle management level and above—a figure
as a transitional energy source and promotes innovation that exceeds the industry average of less than 20%. The
in new energy solutions, such as the development of Company will continue to foster workplace inclusivity and
Liquefied Natural Gas (LNG) infrastructure within the JIIPE diversity, aligned with good and sustainable governance
SEZ in Gresik. LNG is seen as a cleaner transitional energy practices.
option with an important role in ensuring stable energy
availability in Indonesia. Furthermore, the Company plans Ultimately, the Company believes that generating a broad
to expand the provision of renewable energy in JIIPE by and lasting impact requires strong collaboration and
gradually developing a floating solar power plant. This strategic partnerships to strengthen energy distribution,
initiative aligns with the government’s targets for clean and drive industrial growth, and create employment
sustainable energy. opportunities in the JIIPE SEZ, while also advancing
alternative energy sources.
3. Education and Human Capital Development
The Company places strong emphasis on employee The Company remains committed to sustainable growth
development and welfare, investing in training programs to through the optimal integration of ESG principles and
enhance employee performance and offering appropriate aims to ensure that its six (6) core pillars—shareholders, the
benefits as a form of appreciation and motivation. The state, customers, business partners, communities, and the
Company also supports employees’ families by offering environment—benefit from its presence and continued
scholarships to their children who achieve academic business development. This strategy not only delivers value
excellence, in line with the Company’s vision of contributing and positive impact for all stakeholders but also builds a
to the future quality of Indonesia’s human capital. lasting legacy of inclusive economic and industrial growth.

Annual Report 2024 45

 Management Report

Performance Assessment of Committees Supporting the 2025 Business Outlook

Board of Directors
Evolving global dynamics are expected to influence
The Board of Directors is supported by the ESG Committee Indonesia’s economy and the Board of Directors has outlined
to ensure that sustainability strategies across the Company’s a global and national economic outlook along with strategic
operations are implemented. The ESG Committee reports 2025 policies, as follows:
directly to the Board of Directors and acts as an advisor 1. Global Dynamics: Indonesia’s economy remains affected
regarding the alignment of ESG initiatives with the Company’s by commodity price volatility, interest rate hikes, supply
vision, mission, and sustainability strategy. chain disruptions, and challenges in food and energy
security due to climate change.
The Board of Directors has assessed that the ESG Committee 2. Global Economic Outlook: Global economic growth is
performed its duties effectively, leading the formulation of projected to remain at 3.2% in 2025, stable compared
AKR Horizon 2030 as the Company’s Sustainability Progress to 2024.
Tracker, monitoring the implementation of ESG projects, and 3. Indonesia’s Economic Outlook: Growth is expected in
adding direction for adjustments to ESG programmes and the range of 4.95% to 5.11% in 2025, consistent with 2024
targets. projections, influenced by weaker domestic demand at the
end of 2024.
4. Role of the Logistics Sector: Increasingly vital in driving
economic growth and supporting energy security.
5. Challenges: Infrastructure gaps and operational
inefficiencies remain key obstacles.
6. Solutions: Public-private collaboration is essential to build
a more resilient and competitive logistics ecosystem.

Indonesia has set a target of 8% economic growth over

the next five years. To realize this goal, integrated planning
across various sectors and enhanced interconnectivity
are essential. Key development priorities will include
strengthening integrated supply chains, increasing the
value of commodities, improving logistics infrastructure
supported by information technology, developing human
capital competencies, and harmonizing regulations and
institutional frameworks.

46 Annual Report 2024

To sustain long-term growth, AKR has outlined the following Name Position
strategic initiatives:
1. Eastern Indonesia Expansion: Investment in tank terminal Haryanto Adikoesoemo President Director
construction, shipping fleet, and trucking operations to
Jimmy Tandyo Director
support downstream industrial activities.
2. Service Enhancement: Development of technology- Bambang Soetiono Soedijanto Director
based monitoring systems to improve operational
Mery Sofi Director
efficiency and safety.
3. Development of JIIPE SEZ in Gresik: Suresh Vembu Director
• Positioned as a key destination for both domestic and
Nery Polim Director
foreign investment.
• Supported by world-class utility infrastructure, port Termurti Tiban Director
facilities, and multimodal transport for logistics
efficiency. Closing and Appreciation
• Backed by fiscal and non-fiscal incentives and a
streamlined one-stop licensing system. The Board of Directors extends its utmost appreciation to
4. bp AKR Fuel Station Expansion: Broadening the retail all stakeholders for the support and trust in 2024, as the
network to improve public access to high-quality success is the result of the dedication and commitment
premium fuel. of all AKR personnel, business partners, shareholders, and
other stakeholders who have continuously supported the
With a focused strategy and support from various Company’s strategies and development. Appreciation is also
stakeholders, AKR remains confident in its ability to grow and extended to the Board of Commissioners for its oversight and
contribute to national economic development in 2025 and guidance, which have ensured that the Company remains on a
beyond. path of sustainable growth.

Changes to the Board of Directors As the Company moves into 2025, the Board of Directors
remains committed to enhancing competitiveness through
As of the end of 2024, there were no changes in the innovation, operational efficiency, and strategic business
composition of the Company’s Board of Directors in 2024, expansion. With a strong business foundation and strategies
meaning the composition as of 31 December 2024 is as that are responsive to market dynamics, the Board is
follows: confident in the ability to continue delivering optimal value
to shareholders and contributing to national economic
development, believing that through strong synergy and
collaboration, future challenges can be overcome and greater
growth opportunities seized.

Jakarta, 4 April 2025

On Behalf of the Board of Directors,

Haryanto Adikoesoemo
President Director

Annual Report 2024 47

 Management Report

Board of
Directors

Suresh Vembu Haryanto Adikoesoemo Bambang Soetiono Soedijanto Termurti Tiban

Director President Director Director Director

48 Annual Report 2024

Nery Polim Jimmy Tandyo Mery Sofi
Director Director Director

Annual Report 2024 49

 Management Report

Responsibility Statement
of The Board of Commisioners
for the Annual Report 2024
of PT AKR Corporindo Tbk
We, the undersigned, hereby declare that all information in the Annual Report 2024 of PT AKR Corporindo Tbk has been fully
disclosed and we are solely responsible for the accuracy of all contents of the Annual Report.

This statement has been made truthfully.

Jakarta, 4 April 2025

Board of Commissioners

Soegiarto Adikoesoemo
President Commissioner

Sofyan A. Djalil Fauzi Ichsan

Commissioner Independent Commissioner

50 Annual Report 2024

Responsibility Statement
of The Board of Directors
for the Annual Report 2024
of PT AKR Corporindo Tbk
We, the undersigned, hereby declare that all information in the Annual Report 2024 of PT AKR Corporindo Tbk has been fully
disclosed and we are solely responsible for the accuracy of all contents of the Annual Report.

This statement has been made truthfully.

Jakarta, 4 April 2025

Board of Directors

Haryanto Adikoesoemo
President Director

Jimmy Tandyo Bambang Soetiono Soedijanto Mery Sofi

Director Director Director

Suresh Vembu Nery Polim Termurti Tiban

Director Director Director

Annual Report 2024 51

03
Company
Profile
 Company Profile

General
Information

Company Name PT AKR Corporindo Tbk Issuer Code AKRA

Date of Legal Entity
November 28, 1977 Public Limited Company (Tbk)
Establishment Status

Business Sector • Trade and Distribution

• Logistics Services
• Manufacturing
• Industrial Estate

Legal Basis of Deed Number 46 dated November 28, 1977, executed before Sastra Kosasih, Notary in
Establishment Surabaya, and officially recognized as a legal entity pursuant to the Decree of the Minister of
Justice of the Republic of Indonesia Number Y.A.5/151/7 dated June 14, 1978. This recognition
was subsequently published in the State Gazette of the Republic of Indonesia Number 101
dated December 19, 1978, Supplement Number 741/1978.

Authorized Capital
Rp750,000,000,000 Issued and
Paid-up Capital
Rp401,469,492,000
Divided into 37,500,000,000 shares, with each With a share composition of 20,073,474,600
share having a nominal value of Rp20. shares, each with a nominal value of Rp20, which
have been issued and placed in the Company.

54 Annual Report 2024

Share PT Arthakencana Rayatama 63.6%
Ownership
Management 1.8%
Public 33.0%
Treasury Stock 1.6%

Listing on the Listed on the Indonesia Stock Bond Code and Sustainable Bonds I AKR
Indonesia Stock Exchange on October 3, 1994. Rating Corporindo Phase I 2017 with
Exchange Fixed Interest Rate Series C,
idAA (paid on 7th July 2024)

Number of
Employees 2,452 Employees

Head Office AKR Tower Floor 26 Contact +62 21 5311110,+62 21 5311185

Jl. Panjang No.5 Kebon Jeruk +62 21 5311185, +62 21 5311388, 5311185
West Jakarta 11530, Indonesia
[email protected]

www.akr.co.id

Annual Report 2024 55

 Company Profile

Brief Company
History
PT AKR Corporindo Tbk ("AKR" or "the Company") was AKR is broadening its role in accelerating growth
established in Surabaya on November 28, 1977, under and enhancing competitiveness. In 2013, a strategic
Deed No. 46, notarized by Sastra Kosasih, under the name partnership was formed with Pelindo to develop the
PT Aneka Kimia Raya. Initially, the Company focused on Java Integrated Industrial Port Estate (JIIPE) in East Java.
trading basic chemicals, operating an extensive network of The Special Economic Zone (KEK) of JIIPE spans 3,000
chemical storage tanks and warehouses at major ports across hectares, encompassing 1,761 hectares of industrial area,
Indonesia, positioning itself as the country’s largest chemical 406 hectares of deep-water port, and 800 hectares of
distributor. residential area developed by an affiliated company.
Through PT Usaha Era Pratama Nusantara, AKR holds a 60%
In the 1980s, AKR relocated its headquarters to Jakarta to stake in PT Berkah Manyar Kawasan Sejahtera, a subsidiary
strengthen operations and support business expansion. As managing the JIIPE industrial area.
part of a strategic initiative to enhance access to capital and
expand its market presence, the Company listed its shares on The Indonesian government has designated JIIPE as a Special
the Indonesia Stock Exchange on October 3, 1994, under the Economic Zone (SEZ) for Technology and Manufacturing,
stock code AKRA. This milestone reinforced AKR’s position in making it one of the most competitive and attractive industrial
Indonesia’s energy and logistics industries. zones in Java and Eastern Indonesia. JIIPE is also home to the
world’s largest copper smelter, a landmark project whose
In 2004, the Company rebranded as PT AKR Corporindo groundbreaking ceremony in August 2021 was attended by
Tbk. Under its Articles of Association, AKR expanded its the President of Indonesia.
business beyond basic chemicals to include fuel oil, gas,
logistics, transportation services, warehouse and tank leasing, AKR has continued to strengthen its strategic partnerships,
workshops, freight forwarding, packaging, construction including a collaboration with bp in 2018 to expand the
contracting, and other related services. The Company retail fuel and lubricants market and support aviation fuel
also acts as a representative or agent for domestic and distribution at newly developed airports across Indonesia. As
international businesses. a result, the bp AKR fuel station network has been operating
effectively with 61 units as of December 31, 2024.
Strategic amendments to the Articles of Association have
strengthened the Company’s performance, enabling AKR In 2021, AKR entered the clean energy sector by establishing
to become the first private national entity to participate in PT Berkah Buana Energi, a joint venture with PT Bayu Buana
fuel distribution. Since 2010, AKR has been entrusted by BPH Gemilang, to facilitate natural gas distribution to JIIPE Gresik
Migas to distribute subsidized fuel across Indonesia. AKR and surrounding areas. The Company also founded PT Anugrah
operates 106 fuel stations for serving motorists and fisherman Kreasi Pratama Indonesia to enhance warehousing services
spready across Java, Sumatra and Kalimantan Islands. The at JIIPE and PT Berkah Bunker Service to provide marine port
Company continues to fulfill its P3JBT mandate through the services.
implementation of integrated technology systems that ensure
efficient and transparent fuel distribution. A significant milestone in JIIPE’s development was the signing
of a cooperation agreement with bp Gas & Power Investments
AKR, in collaboration with bp AKR, operates 171 fuel retail Limited (bp) to establish an LNG import project and
outlets across 3T (Outermost, Frontline, and Disadvantaged) regasification terminal. This initiative aims to ensure a reliable
regions as well as urban areas. In support of business gas supply for JIIPE tenants and support the regional gas
development, the Company continues to expand its market pipeline network in East Java. Additionally, AKR established
reach and customer base through synergies with leading PT Berkah Renewable Energi Nusantara to operate a power
strategic partners across various sectors. plant within JIIPE and PT Terminal Energi Primer to manage
warehousing, storage, and other energy-related operations in
the area.

56 Annual Report 2024

 Timeline of Changes in Name and Legal Status

Based on Deed No. 46 dated November 28, 1977, drawn up before Notary Sastra Kosasih, the Company was established under the
name PT Aneka Kimia Raya. The Company subsequently underwent several name changes, as detailed below:

• After conducting the Initial Public Offering (IPO) and the • In line with the expansion of its business lines, the Company
official listing on the Indonesia Stock Exchange (IDX) changed its name to PT AKR Corporindo Tbk, recorded in
on October 3, 1994, the Company changed its name Deed No. 36, dated September 23, 2004, and drawn up
to PT Aneka Kimia Raya Tbk. This was approved by all before Doctor Amrul Partomuan Pohan, S.H., LLM, Notary
shareholders and recorded in Deed No. 163 dated May 16, in Jakarta. The change was approved by the Minister of
1994, drawn up before Notary Poerbaningsih Adi Warsito, Justice and Human Rights of the Republic of Indonesia, as
S.H., in Jakarta. The change also received approval from stated in the Decree of September 29, 2004, No. C-24263
the Minister of Justice of the Republic of Indonesia, as HT.01.04.TH 2004.
stated in the Decree of August 23, 1994, No. C2-12686.
HT.01.04.Th.94.

Overview of the Company's Name Changes

November 28, 1977 October 03, 1994 September 23, 2004 - Present

PT ANEKA KIMIA RAYA PT ANEKA KIMIA RAYA TBK PT AKR CORPORINDO TBK

Annual Report 2024 57

 Company Profile

Company
Values

Be Entrepreneurial

Collaborate

Reward for Performance

Be Agile

Empower Your Team

Zero Tolerance

58 Annual Report 2024

Explanation of the
Company Logo

The AKR logo embodies an unwavering commitment to the corporate vision and reflects the identity of a
leading provider of logistics services and procurement solutions for chemicals and energy in Indonesia.
This drives the consistent achievement of excellence on a global scale through strategic asset and
resource management, synergistic partnerships, and innovative strategies that enhance performance
and foster large-scale business growth.

1. The Company’s logo features the 2. The acronym is encased within a blue
acronym "AKR" as its central design circle, symbolizing AKR’s status as a
element, reinforcing the brand’s identity globally recognized enterprise with
and market presence. a strong reputation in international
markets.

3. The letter "A" in red represents a beacon 4. The white color of the acronym reflects
of light, signifying the Company’s the Company’s professionalism and
sincerity and integrity in conducting adherence to applicable business
business while maintaining a focus on regulations. It also underscores
responsible and ethical practices. AKR’s commitment to promoting fair
competition and equitable business
practices.

Annual Report 2024 59

 Company Profile

Company
Milestones

1960 1977
Commenced operations in the trading of basic chemicals in Formal establishment of PT Aneka Kimia Raya on November
Surabaya. 28, 1977.

1980 1994
Initiated the construction of chemical storage tanks and Launched Initial Public Offering (IPO) on October 3, 1994
warehouse facilities across various ports. and listed on the Indonesia Stock Exchange under the ticker
symbol “AKRA”.

2004 2005
• Official name change to PT AKR Corporindo Tbk on Became the first national private company to distribute non-
September 23, 2004. subsidized petroleum in Indonesia.
• Acquired shares in Sorbitol Sorini and Khalista
manufacturing plants.

2006 2008
Acquired and began operating river ports in China. • Acquired its first petroleum transport vessel, SPOB AKRA-10.
• Commissioned Terminal Stagen with a capacity of 50,000 KL.

2010 2013
• Became the first national private company to distribute Initiated development of Java Integrated Industrial and Ports
subsidized fuel through Vehicle Fuel Filling Stations Estate (JIIPE) with Pelindo, integrating industrial zones with a
(SPBKB) and Fishermen Fuel Filling Stations (SPBN). deep-sea port in Gresik, East Java.
• Phase I of PT Jakarta Tank Terminal, a subsidiary engaged
in petroleum storage tank terminal operations at Tanjung
Priok, was inaugurated in April 2010.
• Divested its stake in Sorbitol Sorini manufacturing.

2015 2017
First handover of land for the Industrial Estate: • Signed a Joint Venture Agreement with bp for retail
• JIIPE received government approval under the KLIK business expansion in Indonesia.
program. • Entered into a lubricant distribution partnership with
• Signed a Joint Venture Agreement for aviation fuel Castrol.
distribution. • Divested Guigang Port in China.
• Official commencement of JIIPE Port operations. • PT Berlian Manyar Sejahtera secured a 76-year concession.

2018 2019
• Completed divestment of Kalista Liuzhou Chemical • Handover of land for a smelter project at JIIPE.
Industries Ltd in China. • Official opening of the aviation fuel terminal by JV Air bp
• JIIPE inaugurated as a National Strategic Project. and AKR in Morowali, Central Sulawesi.
• Commenced JTT Phase 2A expansion, increasing capacity • JIIPE Industrial Estate, through PT Berkah Kawasan Manyar
by 100,000 KL. Sejahtera, achieved Integrated ISO Certification.
• Launched the first bp-AKR joint venture fuel station.

60 Annual Report 2024

2020 2021
• Repaid AKR Corporindo’s Sustainable Bonds Phase I Year • JIIPE was officially designated as a Special Economic Zone
2017 Series A worth Rp895 billion. (SEZ) for the Technology & Manufacturing Sector.
• Achieved ISO 9001:2015 certification for Industrial Fuel • Location for Indonesia’s largest copper smelter and
Trading and Distribution Management System. Precious Metal Refinery established at KEK JIIPE Gresik.
• Signed a distribution agreement with Petronas Chemicals • Established a joint venture for the natural gas distribution
Group Berhad (PCG), launching PT Anugerah Kimia business.
Indonesia. • Signed a long-term land lease for a dedicated copper
smelter port facility.
• Included in major ESG indices such as SRI-KEHATI, ESG
Quality 45 IDX KEHATI, and ESG Sector Leaders IDX KEHATI.
• Anugerah Kimia Indonesia completed its first delivery of
basic chemicals.

2022 2023
• Executed a 1:5 stock split. • Established PT Anugrah Kreasi Pratama Indonesia for
• Installed rooftop solar panels (PLTS Atap) at KEK JIIPE bonded warehousing operations at JIIPE.
Gresik to support renewable energy initiatives. • Founded PT Berkah Bunker Service for maritime port
• Signed a Power Purchase Agreement between BKMS and services at JIIPE.
PLN to supply electricity for the single-line copper smelter • Signed a Joint Development Agreement with bp GAS &
project at KEK JIIPE. POWER to develop an LNG project at JIIPE.
• Fully repaid AKR Corporindo’s Sustainable Bonds Phase I
Year 2017 Series B worth Rp68 billion.
• JIIPE received its official operating certificate as
KEK Gresik.
• Eleven AKR storage terminals, one branch office, and JTT
obtained Blue PROPER Certification.
• Appointed as a provider and distributor of subsidized
biodiesel for the 2023–2027 period.

2024
• Established PT Berkah Renewable Energi Nusantara to operate a power plant in the JIIPE area.
• Commenced expansion of Storage Terminal in Morowali.
• Expanded fleet with two new vessels, AKRA 103 and AKRA 105, bringing the total to 14 ships.
• Registered ownership of shares in Chemical Petroleum International Trading Pte. Ltd to strengthen chemical and fuel trading
activities.
• Founded PT Terminal Energi Primer to provide warehousing, storage, and other energy-related services in the JIIPE area.
• KEK JIIPE Gresik was awarded Best Industrial Special Economic Zone by the Indonesian Coordinating Ministry for Economic
Affairs.

Annual Report 2024 61

 Company Profile

Business
Segments
Business Operations as Stipulated in the Articles of Association

In accordance with Article 3 of the Company’s Articles of Association, as amended and approved at the Extraordinary General
Meeting of Shareholders on April 28, 2022, the Company’s objectives and purposes cover the following sectors:
1. Industry
2. Trade
3. Transportation and Warehousing (including rental and leasing activities without option rights, employment services, travel
agency services, and other supporting business activities)
4. Provision of Electricity, Gas, Steam, Hot Water, and Air Conditioning
5. Professional, Scientific, and Technical Activities (services)
6. Construction

Business Activities

To achieve these objectives and purposes, the Company 2. Trade:

carries out the following business activities: • Wholesale trading of solid, liquid, and gaseous fuels
and related products includes crude oil, raw petroleum,
Core Business Activities diesel fuel, gasoline, oil fuel, kerosene, premium
1. Industry: fuel, solar, coal, charcoal, wood fuel, naphtha, bio-
• The petroleum refinery industry includes the processing petroleum, gaseous fuels like LPG, butane, propane,
of asphalt/tar, bitumen, and wax (used for applications polishes, lubricants, and processed petroleum
such as road surfacing, roofing, wood treatment, products.
paper coating, and more), as well as petroleum coke. • Wholesale trading of basic chemicals and industrial
In addition, this category covers the production of materials includes trading activities for industrial
petrochemical industry products and other derivatives, chemicals such as printer ink, essential oils, industrial
such as white spirit, vaseline, paraffin wax, petroleum gases, chemical adhesives, dyes, synthetic resins,
jelly, petroleum briquettes, and bio-petroleum blending methanol, paraffin, flavors and fragrances, soda,
activities, such as mixing alcohol with petroleum (e.g., industrial salt, acids, sulfur, and related products.
gasohol). • Retail trading of petroleum, gas fuel (bbg), and
• The fuel oil refining industry covers activities producing liquefied petroleum gas (lpg) covers retail sales of
various types of fuels, including Avigas, Avtur, gasoline, petroleum through filling stations for land, sea, and air
kerosene, diesel, fuel oil, and solvents. It also includes transportation (e.g., SPBU, SPBG). This also includes
the production of LPG derived from petroleum refining fuels for speedboats and generator sets (gensets), as
processes. well as lubricants, coolants, cleaning agents, and other
vehicle-related products.

62 Annual Report 2024

3. Transportation and Warehousing (Leasing and Operational • Hazardous and toxic materials (B3) Storage involves
Leasing without Purchase Option, Employment Services, storing hazardous materials requiring specialized
Travel Agencies, and Other Supporting Activities): facilities.
• Pipeline transport involves the transportation of crude • Bonded warehousing covers business activities in
oil, petroleum products, refined fuels, and natural special customs areas, such as those managed by
gas from production locations to consumer locations companies in industrial zones like Batam Island.
through pipelines under fee or contractual agreements, • Leasing and Operational Leasing of Land Vehicles
including pump station operations. Without Purchase Option includes leasing various types
• General goods motor transport involves transporting of land transport vehicles without an operator, such as
various goods using motor vehicles, including trucks, cars, trucks, and tow trucks.
pick-up vehicles, open-bed, and closed-box transport. 4. Professional, Scientific, and Technical Activities (Services):
• Specialized goods motor transport focuses on • Other management consulting activities involves
transporting specific goods like fuel oil, petroleum providing advice, guidance, and operational support
products, LPG, LNG, CNG, hazardous materials, toxic related to organizational and management aspects,
waste, heavy equipment, containers, live plants, including strategic planning, financial decisions,
animals, and vehicles. marketing policies, human resources, scheduling, and
• Domestic sea transport for specialized goods involves production control.
the use of vessels specifically designed for transporting • Consulting services offers advisory services for business
hazardous materials, petroleum products, fuel oil, LPG, and community organizations in areas such as planning,
LNG, CNG, fish, and similar cargoes. organization, efficiency, supervision, and management
• Warehousing and storage provides temporary storage information systems. Infrastructure investment studies
of goods before final delivery for commercial purposes. also fall under this category, as well as accounting
• Oil and gas storage includes storage, reception, method design, cost accounting programs, and budget
collection, containment, and distribution of crude oil, monitoring services.
fuel, gas, and derivatives on the surface, underground,
or offshore for commercial purposes, including storage
in free-trade zones.

Supporting Activities • River and lake port services, which involve managing
1. Transportation and Warehousing involve a range of ports located on rivers and lakes. These activities
activities, including: include facilitating transportation for passengers,
• Seaport services, which cover maritime transportation animals, or goods, operating terminal facilities,
for passengers, animals, or goods. These activities providing navigation services, conducting cargo and
include the operation of terminal facilities such as container inspections using ionizing radiation sources,
ports and docks, navigation services, cargo and overseeing vessel operations, anchoring, and offering
container inspections using ionizing radiation sources mooring, pilotage, and towing services.
(radioactive substances and ionizing radiation emitters),
vessel operations, anchoring services, and mooring
assistance.

Annual Report 2024 63

 Company Profile

2. Construction covers various types of infrastructure 3. Provision of Electricity, Gas, Steam, Hot Water, and Air
development, including: Conditioning includes various activities related to energy
• Civil construction of bridges, overpasses, and generation and distribution:
underpasses, which involves the building, maintenance, • Electricity generation, which covers the production
and/or reconstruction of bridges (including railway of power from multiple sources, including fossil fuels
bridges), flyovers, underpasses, and related structures. (coal, gas, fuel oil, diesel) and renewable energy sources
This also includes supplementary infrastructure such as (geothermal, wind, bioenergy, solar, water flow, ocean
guardrails, retaining walls, road drainage systems, road movements, and temperature gradients in ocean
markings, and traffic signs. layers). This also includes hybrid energy generation that
• Prefabricated civil construction services, which involve combines fossil and renewable sources, as well as the
the installation of factory-produced materials such use of energy storage technologies.
as precast concrete, steel, plastic, rubber, and other • Other electricity support activities, including services
manufactured components. The installation process directly related to the provision and utilization of
includes fabrication, erection, and/or assembly for civil electricity, such as meter reading, billing, electricity
infrastructure projects. token sales, and other electricity-related support
• Construction of non-fishery port facilities, covering the services.
development, maintenance, and/or reconstruction of • Supply of natural and artificial gas, which involves
jetties, trestles, port infrastructure, canals, waterways, processing gas fuels for direct use, including refining,
docks, and locks (such as the Panama Canal or blending, and other quality enhancement methods
Hoover Dam). derived from natural gas (including LPG), carbonation,
• Civil construction for oil and gas infrastructure, coal gasification, or other hydrocarbon sources.
which includes the construction, maintenance, and • Distribution of natural and artificial gas, which covers the
reconstruction of civil structures supporting upstream delivery of gas through networks operating at various
and downstream oil and gas business activities. pressure levels: extra-high pressure (over 10 bar), high
pressure (4–10 bar), and medium-to-low pressure
(below 4 bar). This distribution system involves supplying
gas from self-produced or third-party sources to end
consumers, including pipeline transportation for a fee,
gas trading through distribution systems managed by
third parties, and operating commodity exchanges and
capacity management systems for gas transportation.

Business Segments,
Products, and Services
To support its business activities, the Company categorizes its core operations into four main segments:
1. Petroleum and Basic Chemicals Trading and Distribution
2. Third Party Logistics
3. Manufacturing
4. Integrated Industrial Estate and Port

The Company offers a diverse range of products tailored to each business segment, including:

64 Annual Report 2024

 Trading and Distribution

The Company focuses primarily on the trading and distribution segment, prioritizing 2 (two) main products: Petroleum (BBM) and
basic chemicals.

INDUSTRIAL PETROLEUM PRODUCTS

Biodiesel Marine Fuel Oil, IDO Lubricants

Mining Plantation Power Manufacturing Vessels Manufacturing Vessels Heavy

Generation Equipment

Marine Shipping

1. Non-Subsidized Industrial Petroleum of petroleum transport vessels, including tankers, barges,

The Company began developing its non-subsidized and Self-Propelled Oil Barges (SPOBs) for sea and river
industrial petroleum distribution business in 2005. It has distribution. These vessels are specifically designed for
continuously expanded its logistics network facilities shallow river deliveries in Kalimantan, with a draft depth of
to support petroleum distribution for customers, up to 2.7 meters. Additionally, the Company operates a
particularly in sectors such as mining, power generation, fleet ±250 trucks for nationwide product distribution.
manufacturing, transportation, and bunkering. The
Company operates tank terminal facilities at key ports In late August 2018, the Ministry of Energy and Mineral
located strategically across Indonesia, with a total storage Resources announced the mandatory use of biodiesel
capacity of 822,000 KL. for all industrial and transportation sectors, with limited
exceptions. Under the B35 mandate, AKR was granted the
A key strength in this business lies in the Company's robust largest allocation quota of Fatty Acid Methyl Ester (FAME)
supply chain management, ensuring capacity fulfillment, among private companies for blending processes.
product quality, and timely delivery of petroleum to
customers across Indonesia. This is supported by a fleet

RETAIL PETROLEUM PRODUCTS

Subsidized Non-Subsidized Aviation Fuel

Biodiesel (B35) High-Octane Gasoline, Premium-Quality Aviation Turbine Fuel (Avtur)

Diesel, Active Technology

Trucks Fishing Motor Vehicles Aircraft

Vessels

2. Non-Subsidized Retail Petroleum By end of 2024, PT Aneka Petroindo Raya (APR) has opened
In April 2017, the Company entered into a joint venture 61 retail petroleum stations (bp AKR retail station) located
with bp to develop the retail petroleum industry in in Jabodetabek, Surabaya, Gresik, Malang, and various toll
Indonesia. This partnership led to the establishment of rest areas. As the industry continues to expand, the retail
PT Aneka Petroindo Raya, operating under the brand “bp sector is expected to remain a key growth driver for the
AKR Petroleum Retail”. Under this exclusive agreement, Company’s petroleum segment in the future.
both parties committed to delivering a unique consumer
experience by combining bp's global expertise with AKR’s
extensive market knowledge in Indonesia’s rapidly growing
retail sector.

Annual Report 2024 65

 Company Profile

3. Subsidized Retail Petroleum The Company operates SPBKB and SPBN stations across
Since 2010, the Company has been entrusted by the various regions of Indonesia, including the islands of
Downstream Oil and Gas Regulatory Agency (BPH Migas) Sumatra, Java, Bali, and Kalimantan. With a well-organized
to distribute subsidized petroleum (BBM), leveraging its terminal network and an extensive transportation fleet, the
extensive capacity and experience. The distribution of Company efficiently fulfils its role in distributing subsidized
subsidized fuel is carried out through Vehicle Fuel Filling petroleum. This strengthens its position as one of the
Stations (SPBKB) and Fishermen Fuel Filling Stations (SPBN) leading players in the petroleum distribution business. In
under the AKRA SOL brand, which has now transitioned into 2024, AKR distributed 167,515 KL of subsidized solar fuel in
a biodiesel product. line with its subsidized energy contract agreement for the
2024 Fiscal Year.

Product Type Product

• Biodiesel (B35)
Non-Subsidized Industrial Petroleum • Industrial Diesel Oil (IDO)
• Marine Fuel Oil
• Gasoline RON 92 and RON 95
Non-Subsidized Retail Petroleum
• High Quality Diesel
Subsidized Petroleum Biodiesel (B35)

4. Basic Chemicals AKR established Indonesia’s first storage tank terminal

AKR is the main distributor of PT Asahimas Chemical and in the 1970s, and has since grown into one of the nation’s
is responsible for distributing various basic chemicals, leading chemical distributors with a strong market
including chlor-alkali, solvents, acids, as well as organic presence. This success is driven by robust infrastructure
and inorganic chemicals. In addition to distribution from and strengths in integrated supply chain and logistics. The
PT Asahimas Chemical, the company also engages in synergy between reliable infrastructure and an efficient
the trading and distribution of basic chemicals from supply chain and logistics system makes AKR the top
both domestic and international suppliers to support its choice for various industries in Indonesia that require a
business operations. steady supply of basic chemicals. Key industries served by
AKR include mineral refining (smelters), consumer goods,
textiles, glass, and others.

Basic Chemical Products Customer

• Caustic Soda • Household Product Manufacturers

• Sodium Hypochlorite • Textiles
• Hydrogen Peroxide • Glass
• PVC Resins • Paper
• Soda Ash • Fertilizers
• Sulphuric Acid • Chemicals and Pharmaceuticals
• Hydrochloric Acid • Plastic
• Sodium Sulphate • Food Additive
• Methanol • Smelter

5. Lubricants Depot (DPPU) at IMIP’s dedicated airport in Morowali,

The Company has developed and accelerated its business Central Sulawesi, and in Cibubur. With this initiative, the
expansion in the lubricants sector through its subsidiary, Company became the first private company in Indonesia to
PT Anugerah Lubrindo Raya (ALR), established on distribute aviation fuel.
February 7, 2019, as a subsidiary of PT Anugerah Krida
Retailindo. ALR’s core business focuses on the trading and 7. Gas
distribution of lubricants for the industrial, marine, mining, The Company partnered with PT Bayu Buana Gemilang
and commercial vehicle sectors under the well-known (BBG) to establish a joint venture named PT Berkah Buana
Castrol brand. This expansion is part of the Company’s Energi (BBE) on August 4, 2021. This company focuses
efforts to enhance its business portfolio and strengthen its on the construction, management, and development of
foundation in the lubricant sector. natural gas distribution networks through pipelines from
gas sources to customers.
6. Aviation Fuel (Avtur)
In 2016, the Company signed a joint venture agreement In its initial phase, the joint venture will focus on developing
with Air bp aimed at distributing aviation fuel at airports business operations in the JIIPE Special Economic Zone
across Indonesia. This partnership led to the formation of a (SEZ), Gresik, East Java, to meet the industrial demand in
joint venture company, PT Dirgantara Petroindo Raya (DPR). the area. Under the agreement, the Company holds a 65%
In August 2019, DPR inaugurated its first Aircraft Refueling ownership stake, while BBG owns 35%.

66 Annual Report 2024

 Logistic Services

The Company possesses a robust logistics infrastructure, The Company also holds a 51% stake in PT Jakarta Tank
which includes warehouses, storage tanks, vessels, and Terminal (JTT), a joint venture with Royal Vopak. JTT focuses
transport trucks. This allows the Company to offer efficient on operating an independent fuel storage terminal with a
logistics and distribution infrastructure to third parties, total capacity of 350,000 cbm at Tanjung Priok Port. JTT is
providing reliable and effective bulk cargo management one of the largest privately-owned tank terminal operators
services at major ports across Indonesia. in Indonesia, equipped with a jetty and subsea pipelines. It
contributes to enhancing the Company's fuel distribution
Through its subsidiary, PT AKR Transportasi Indonesia, the capabilities. Additionally, JTT serves as an independent tank
Company provides land transportation services to support terminal with clients from leading oil companies.
its logistics operations. In addition, the Company offers large
vessels for delivering products directly to customers and third The types of products and services offered include:
parties through PT AKR Sea Transport.

Services

Bulk Cargo Handling Services

Container Handling Services
Land and Sea Transportation
Storage Tanks
Vendor Managed Inventory (VMI)
Warehousing
Port Services through affiliated company PT BMS

For key customers, the Company offers a Vendor Managed Inventory (VMI) system, which involves managing petroleum inventory
directly at the customer's location. Each customer only pays based on actual usage, while the Company is responsible for ensuring
the availability and efficient management of the inventory to meet customer needs. The implementation of the VMI system
reflects the Company's commitment to providing added value by offering more effective inventory management solutions.

Manufacturing

The Company's manufacturing segment produces high-quality wood adhesives through its subsidiary, PT Arjuna Utama Kimia
(Aruki), located in Surabaya, East Java. Aruki focuses on supplying adhesives required by various companies in Indonesia's wood
and paper industries.

Product Type Brand Final Product

Urea-formaldehyde Resin Uloid Plywood and Woodworking

High Solid Urea-formaldehyde Resin Uloid Particle Board and MDF
Melamine-formaldehyde Resin Uloid Plywood and Woodworking
Planol-formaldehyde Resin Uloid Plywood and Woodworking
Two Component Vinyl Urethane Wood working, Furniture, Flooring &
Struct Bond
Adhesive FJLB
High performance dry strength
Polyacrylamide Monomer (PAM) Resin HOFMANN
enhancement resin for paper
High performance dry strength
Polyacrylamide Monomer (PAM) Resin HOPELON
enhancement resin for paper
Melamine Resin URAMIN Paper wet strength improvement resin
Multipurpose Adhesive for Wood
Poly Vinyl Acetate PVAc
and Paper

Annual Report 2024 67

 Company Profile

Industrial Estate

Jointly with Pelindo, AKR has developed the Java Integrated As a Special Economic Zone (SEZ) focused on technology
Industrial and Port Estate (JIIPE), located in Gresik, East Java, as and manufacturing for the government’s downstreaming
part of its expansion strategy. This investment aims to meet the program, JIIPE offers world-class supporting facilities such
logistics and energy solution needs of industrial customers. as power plants, water pipelines, wastewater treatment, and
JIIPE features an integrated deep-sea port connected to a information technology infrastructure. These facilities are
large industrial estate, with strong interconnectivity across expected to become sustainable revenue sources for the
one of the fastest-growing provinces. Company, expanding its industrial business beyond land sales
and leasing. Below are the details of the products and services
Covering a total area of over 3,000 hectares, this project offered.
will become one of the largest integrated industrial estates
with a port in Indonesia. The development area includes 1,761
hectares of land for the industrial estate, 406 hectares of
land for the seaport, and 800 hectares for residential and
commercial spaces, developed by an affiliate AKR.

Services

Industrial Estate
Port and Port Operators
Utilities & Infrastructure

Market Coverage

As a provider of logistics services and procurement solutions In the development of the non-subsidized retail petroleum
(supply chain) for energy and chemicals in Indonesia, the and aviation fuel (avtur) business, the Company has partnered
Company is supported by extensive and well-developed with bp Global through joint ventures such as bp-AKR, which
infrastructure and logistics networks. It operates storage operates 61 fuel stations (SPBU) until the end of December
tanks and distribution terminals at 19 ports across Indonesia. 2024, and PT Dirgantara Petroindo Raya (DPR), which owns
The Company also maintains a comprehensive logistics 2 aviation fuel depots in Indonesia. In the subsidized retail
fleet, including vessels and trucks for delivering petroleum segment, the Company distributes and sells biodiesel, RON
and basic chemicals, serving thousands of companies and 92 and Ron 95 gasoline for motor vehicles and fishermen
industries. across Java, Sumatra, Kalimantan, and Sulawesi.

The Company distributes biodiesel and fuel oil to various Additionally, the Company is involved in the distribution
industrial sector customers, including commercial businesses, and trading of basic chemicals, acting as a distributor for
mining, power generation, manufacturing, construction, international basic chemical manufacturers in Indonesia. The
fisheries, bunkering, and others. Additionally, the Company basic chemicals distributed by the Company serve as raw
offers Euro 4 standard fuels to the retail sector through retail materials for various industries, including smelters, chemicals,
outlets. textiles, pulp and paper, consumer goods, fertilizers,
processed wood products, food, pharmaceuticals, and other
industries.

68 Annual Report 2024

Associations and
Memberships
To expand its business network and promote broader and more effective communication, the Company is a member of several
business associations and other organizations. As an active participant, the Company's membership in these associations
and organizations serves as part of its stakeholder engagement efforts to address challenges and issues encountered during
operational activities. As of December 31, 2024, AKR is a member of the following associations:

Association Name Position in Association Annual Membership Fee (Rp)

Asosiasi Pengusaha Indonesia (APINDO) Member Rp27,500,000

Kamar Dagang dan Industri Indonesia
Member Rp3,500,000
(KADIN)
Asosiasi Emiten Indonesia (AEI) Member Rp3,000,000
Indonesia Corporate Secretary
Member Rp5,000,000
Association (ICSA)

Annual Report 2024 69

 Company Profile

Organizational
Structure
Board of Commissioners

Soegiarto Adikoesoemo
Sofyan A. Djalil
Mohamad Fauzi Maulana Ichsan

Nomination & Remuneration

Audit Committee Committee

Fauzi Ichsan Soegiarto Adikoesoemo

Sahat Pardede Fauzi Ichsan
Prof. DR. Djisman Simandjuntak Felix Abednego

President Director
Quality Assurance & Risk
Haryanto Adikoesoemo Management
Antonius Setiawan

Director of
Director of External Corporate
Director of Director of Relations, Secretary,
CEO Deputy CEO Regional Finance & Industrial Business
Sales & Operation Accounting Estate & Port Development &
Facilities Joint Ventures
Relationship

Jimmy Tandyo Mery Sofi Nery Polim Termurti Tiban Bambang Soetiono S. Suresh Vembu

Head of Petroleum Head of WEST Corporate

Head of Network &
Head of Human Region Deputy Tax &
Division Operations Secretary Officer
Resources Accounting
Johny W. Sutanto Nery Polim Fiana M. Awalina
Joseph Pangilinan
Felix Abednego Melyati Yuwono
Head of Chemical & Head/Deputy Head Head of Investor
Deputy Network &
Logistics Division of Branch: Head of Relation
Operations I
Ongkowijono
• Jakarta Procurement
Ignatius T. Prayoga
Yuwono
Head of Natural Gas & • Medan Weldy Natalina
Ongkowijoyo
Renewable Energy • Palembang
Elijas Pudjianto • Tank Terminal &
• Lampung Head of Business Joint Ventures
Process & Warehouse
Head of Information • Bandung PT Jakarta Tank
Technology Compliance • Safety, Health,
• Semarang Terminal (JTT)
Johan Soegiarto Handy Yustisio Environment
• Pontianak
Head of Corporate
Legal Head of Treasury & Deputy Network & PT Dirgantara
Insurance Operations II Petroindo Raya
Haryati Utami Head of EAST
Region Veranica Hardy Erpiny Tan
Head of Licence &
Reza Gunawan
• Land PT Aneka
Permit Head of Receivable Transportation Petroindo Raya
Management
Antonius Brahmanta Head/Deputy Head & Distribution
of Branch: Oey Imelda Widjaja Planning PT Anugerah
Head of Litigation • Surabaya • Operational Lubrindo Raya
Toni Butar Butar • Kalimantan Improvement
Timur PT Berkah Kawasan
• Kalimantan Manyar Sejahtera
Selatan
& Tengah PT Anugerah Kimia
• Bali Indonesia
• Sulawesi
• Stagen
PT Berkah Buana
Energi

70 Annual Report 2024

Profile of the
Board of Commissioners

Soegiarto Adikoesoemo
President Commissioner

Nationality Domicile
Indonesia Surabaya
Place and Date of Birth Age
Malang, March 24, 1938 87 years old

Legal Basis of Appointment

Decision of the Annual General Meeting of Shareholders
based on Deed No. 37 dated April 30, 2020.

Educational Background Concurrent Positions

∙ SMA Yong Ching Night School, Surabaya (1957) ∙ President Commissioner PT Arjuna Utama Kimia (2007- Present)
∙ SMP Yong Ching Night School, Surabaya (1954) ∙ Member of the Nomination and Remuneration Committee at
∙ SD Chung Hua Sie Siau Lawang, Malang (1951) PT AKR Corporindo Tbk
∙ President Commissioner of PT AKR Land Development (formerly
PT Union Perkasa Wisesa), Jakarta (1998–present)
Career History ∙ President Commissioner of PT Arthakencana Rayatama
∙ Founder & Chairman AKR (Guangxi) Coal Trading Co. Ltd, Guigang, (1992–present)
Tiongkok (2008-2019) ∙ President Commissioner of PT Andahanesa Abadi (1992–present)
∙ Founder & Chairman AKR (Guigang) transshipment port, Co. Ltd,
Guigang, Tiongkok (2016-2017)
∙ Founder & Chairman AKR Guangxi (Guigang) AKR Container Port Affiliation Relationships
Co. Ltd, Guigang, tiongkok (2006-2017) Has a family relationship with the President Director and the
∙ President Director PT AKR (1982-1992) Controlling Shareholder.
∙ Founder AKR Group (1960)
∙ Founded his own company named UD. Sinar Djaja (1960)
Share Ownership
Holds 101,604,800 shares in the Company.

Annual Report 2024 71

 Company Profile

Sofyan A. Djalil
Commissioner

Nationality Domicile
Indonesia Jakarta
Place and Date of Birth Age
Aceh, September 23, 1953 71 years old

Legal Basis of Appointment

Decision of the Annual General Meeting of Shareholders
based on Deed No. 47 dated April 28, 2023.

Educational Background Concurrent Positions

∙ Ph.D. in Law and Capital Market Policy, Fletcher School of Law and ∙ CEO Indonesia Business Council (IBC) (2023- Present)
Diplomacy, Tufts University (1993) ∙ President Commissioner and Independent Commissioner of
∙ Master of Arts in Law and Diplomacy, Tufts University (1991) PT Pembangunan Jaya Ancol Tbk (2023–present)
∙ Master of Arts (MA) in Public Policy, Tufts University (1989) ∙ Advisory Board Member of Indonesian Palm Oil Strategic Studies
∙ Bachelor of Law, University of Indonesia (1984) (IPOSS) (2023–present)
∙ President Commissioner of PT Indika Nature (2022–present)

Career History
∙ Minister of Agrarian Affairs and Spatial Planning (2016–2022) Affiliation Relationships
∙ Minister of National Development Planning (2015–2016) Has no affiliation with the Board of Commissioners, Board of
∙ Coordinating Minister for Economic Affairs (2014–2015) Directors, or Controlling Shareholders.
∙ Chairman of the Strategic Study Team for Vice President Boediono
(2010–2014)
∙ Minister of Communication and Information Technology (2004–2007) Share Ownership

∙ Community Relations Consultant at Chevron Indonesia (2000) Does not hold any shares in the Company.

∙ Assistant to the State Minister for State-Owned Enterprises

(1998–2000)
∙ Vice President of Research & Development at the Jakarta Stock
Exchange (1998)

72 Annual Report 2024

 Mohamad Fauzi Maulana
Ichsan
Independent Commissioner

Nationality Domicile
Indonesia Jakarta
Place and Date of Birth Age
Jakarta, January 27,1970 55 years old

Legal Basis of Appointment

Decision of the Annual General Meeting of Shareholders
based on Deed No. 37 dated April 30, 2020.

Educational Background Concurrent Positions

∙ Master of Science, Development Studies, Massachusetts Institute ∙ Independent Commissioner of Unilever Indonesia (2021–present)
of Technology (MIT), Massachusetts, USA, (1995) ∙ Independent Commissioner of Manulife Investment Management
∙ Bachelor of Science, London School of Economics (LSE), (2020–present)
University of London, UK (1991) ∙ President Commissioner of Indonesia Financial Group (IFG)
∙ Ordinary and Advanced Level Certificates of Education, (2020–present)
Cambridge University Board, UK (1988) ∙ Chairman of the Nomination and Remuneration Committee at
PT AKR Corporindo Tbk (2020-present)
∙ Chairman of the Audit Committee at PT AKR Corporindo Tbk
Career History (2020-present)
∙ Executive Committee Member of International Association of
Deposit Insurers, IADI, Basel, Switzerland (2017-2020)
∙ Chief Executive of the Indonesia Deposit Insurance Corporation Affiliation Relationships
(LPS) (2015–2019) Has no affiliation with the Board of Commissioners, Board of
∙ Member of the Board of Commissioners of the Indonesia Deposit Directors, or Controlling Shareholders.
Insurance Corporation (LPS) (2014–2015)
∙ Managing Director, Senior Economist, and Head of Government
Relations, Standard Chartered Bank (SCB) Jakarta (2001-2014) Share Ownership

∙ Senior Economic Adviser for British Ambassador to Indonesia Does not hold any shares in the Company.

(1998-2000)
∙ Bond Trader Citibank Singapore (1997-1998)
∙ Head of Fixed Income Sales Desk Citibank Jakarta (1995-1997)
∙ Research Analyst, Harvard Institute for International Development,
Advisory Team for Minister of Finance, Ministry of Finance
(1991-1993)

Annual Report 2024 73

 Company Profile

Profile of the
Board of Directors

Haryanto Adikoesoemo
President Director

Nationality Domicile
Indonesia Jakarta
Place and Date of Birth Age
Surabaya, September 21, 1962 62 years old

Legal Basis of Appointment

Decision of the Annual General Meeting of Shareholders
No. 37 dated April 30, 2020.

Educational Background ∙ President Commissioner of PT Anugerah Lubrindo Raya

∙ Executive Management Program Harvard Business School (1993) (2019–present)
∙ Bachelor of Science, University Bradford, United Kingdom (1983) ∙ President Commissioner of PT Anugerah Krida Retailindo
∙ “A” Level Hall Green Technical College, United Kingdom (1980) (2017–present)
∙ “O” Level St. Patrick’s School, Singapore (1978) ∙ President Commissioner of PT AKR Niaga Indonesia (2012–present)
∙ President Commissioner of PT AKR Sea Transport (2011–present)
∙ President Commissioner of PT Anugrah Karya Raya (2009–present)
Career History
∙ Commissioner of PT Andahanesa Abadi (2008–present)
∙ Vice Chairman of Khalista (Liuzhou) Chemical Industries Ltd
∙ Commissioner of PT Arjuna Utama Kimia (2007–present)
(2004–2018)
∙ President Commissioner of PT Jakarta Tank Terminal (2005–present)
∙ President Commissioner of PT Bumi Karunia Pertiwi (2009–2018)
∙ President Commissioner of PT Usaha Era Pratama Nusantara
∙ Director of AKR (Guigang) Coal Trading Co. Ltd (2008–2017)
(2002–present)
∙ Director of AKR (Guigang) Transshipment Port Co. Ltd (2006–2017)
∙ President Director of PT Arthakencana Rayatama (1992–present)
∙ Director of AKR (Guigang) Port Co. Ltd (2006–2017)
∙ President Director of PT AKR Land Development
∙ Director of Guangxi (Guigang) AKR Container Port Co. Ltd
(formerly PT Union Perkasa Wisesa) (1985–present)
(2006–2017)
∙ President Commissioner of PT Jabal Nor (2011–2017)
∙ Executive Committee Member of the Business Office Ministry (2003) Affiliation Relationships
Has a family relationship with the President Commissioner and the
Controlling Shareholder.
Concurrent Positions
∙ Director of Lubrindo Shipping Services Pte Ltd (2019–present)
∙ President Commissioner of PT Anugerah Lubrindo Batam Share Ownership
(2019–present) Holds 205,604,600 shares in the Company.

74 Annual Report 2024

 Jimmy Tandyo
Director

Nationality Domicile
Indonesia Jakarta
Place and Date of Birth Age
Surabaya, August 22,1951 73 years old

Legal Basis of Appointment

Decision of the Annual General Meeting of Shareholders
No. 37 dated April 30, 2020.

Educational Background ∙ Commissioner of PT Anugerah Krida Retailindo (2017–present)

∙ Advance Management Program at Harvard Business School ∙ President Commissioner of PT Terminal Nilam Utara (2015–present)
(2005) ∙ Commissioner of PT AKR Niaga Indonesia (2012–present)
∙ Graduate of the Institute of Foreign Languages (1970) ∙ President Commissioner of PT Berkah Kawasan Manyar Sejahtera
(2012–present)
∙ Commissioner of PT AKR Sea Transport (2011–present)
Career History
∙ Commissioner of PT Anugrah Karya Raya (2009–present)
∙ Director of AKR (Guangxi) Coal Trading Co. Ltd. (2008–2019)
∙ President Director of PT Andahanesa Abadi (2008–present)
∙ Director of Khalista (Liuzhou) Chemical Industries Ltd. (2012–2018)
∙ Commissioner of PT Jakarta Tank Terminal (2007–present)
∙ Commissioner of PT Bumi Karunia Pertiwi (2009–2018)
∙ Commissioner of PT Usaha Era Pratama Nusantara (2002–present)
∙ Commissioner of PT Jabal Nor (2011–2017)
∙ Director of PT Arthakencana Rayatama (1992–present)
∙ Director of AKR Guangxi (Guigang) AKR Container Port Co. Ltd.
∙ Commissioner of PT Arjuna Utama Kimia (1985–present)
(2006–2017)
∙ Director of AKR (Guigang) Port Co. Ltd. (2006–2017)
∙ Director of AKR (Guigang) Transshipment Port Co. Ltd. (2006–2017) Affiliation Relationships
∙ Director of PT Sorini Corporation Tbk (1985–2006) Has no affiliation with members of the Board of Commissioners,
∙ General Manager of PT Aneka Kimia Raya (1974–1985) Board of Directors, or Controlling Shareholders.

Concurrent Positions Share Ownership

∙ President Commissioner of PT Terminal Energi Primer (2024–present) Holds 39,000,000 shares in the Company.
∙ Commissioner of PT Berkah Renewable Energi Nusantara
(2024–present)
∙ President Commissioner of PT Berkah Buana Energi (2021–present)

Annual Report 2024 75

 Company Profile

Bambang Soetiono
Soedijanto
Director

Nationality Domicile
Indonesia Jakarta
Place and Date of Birth Age
Rembang, February 8, 1962 63 years old

Legal Basis of Appointment

Decision of the Annual General Meeting of Shareholders
No. 37 dated April 30, 2020.

Educational Background ∙ Commissioner of PT Berlian Manyar Sejahtera (2012–present)

Bachelor of Economics in Accounting, STIE Surabaya (1986) ∙ President Director of PT AKR Niaga Indonesia (2012–present)
∙ President Director of PT AKR Sea Transport (2011–present)
∙ Director of PT Andahanesa Abadi (2008–present)
Career History
∙ Director of PT Arjuna Utama Kimia (2007–present)
∙ Commissioner of PT Berlian Manyar Stevedore (2016–2019)
∙ Director of PT Jakarta Tank Terminal (2005–present)
∙ Director of AKR (Guigang) Transshipment Port Co. Ltd (2006–2017)
∙ President Director of PT Usaha Era Pratama Nusantara
∙ Head of Surabaya Branch Office at PT AKR Corporindo Tbk
(2002–present)
(1992–1994)
∙ Head of Finance and Accounting Division at PT AKR Corporindo
Tbk, Surabaya Branch Office (1989–1992) Affiliation Relationships
Has no affiliation with members of the Board of Commissioners,
Board of Directors, or Controlling Shareholders.
Concurrent Positions
∙ Commissioner of PT Berkah Buana Energi (2021–present)
∙ President Director of PT Terminal Nilam Utara (2014–present) Share Ownership
∙ President Director of PT Berkah Kawasan Manyar Sejahtera Holds 4,780,000 shares in the Company.
(2012–present)

76 Annual Report 2024

 Mery Sofi
Director

Nationality Domicile
Indonesia Jakarta
Place and Date of Birth Age
Bagan Siapi-api, April 25, 1967 58 years old

Legal Basis of Appointment

Decision of the Annual General Meeting of Shareholders
No. 37 dated April 30, 2020.

Educational Background ∙ (2024–present)

Bachelor of Economics in Accounting, Universitas Krida Wacana, ∙ President Commissioner of PT AKR Transportasi Indonesia
Jakarta (1990) (2024-present)
∙ Commissioner of PT Berkah Kawasan Manyar Sejahtera
(2017–present)
Career History
∙ President Commissioner of PT Dirgantara Petroindo Raya
∙ President Director of PT Berkah Buana Energi (2021-2023)
(2017–present)
∙ President Director of PT Bumi Karunia Pertiwi (2012–2018)
∙ Director of PT Anugerah Krida Retailindo (2017–present)
∙ Director of AKR (Guigang) Transshipment Port Co. Ltd.
∙ Director of PT AKR Niaga Indonesia (2012–present)
(2006–2017)
∙ Director of PT AKR Sea Transport (2011–present)
∙ Director of Guangxi (Guigang) AKR Container Port Co. Ltd.
∙ Director of PT Andahanesa Abadi (2008–present)
(2006–2017)
∙ Director of PT Arjuna Utama Kimia (2007–present)
∙ Financial Controller at PT AKR Corporindo Tbk (1997–2006)
∙ Finance and Accounting Manager at the Packaging Division of
Indofood Group (1995–1997) Affiliation Relationships
∙ Accounting Manager at the Packaging Division of Indofood Group Has no affiliation with members of the Board of Commissioners,
(1992–1995) Board of Directors, or Controlling Shareholders.

Concurrent Positions Share Ownership

∙ President Director of PT Terminal Energi Primer (2024–present) Holds 2,303,000 shares in the Company.
∙ Director of Chemical Petroleum International Trading PTE. LTD

Annual Report 2024 77

 Company Profile

Suresh Vembu
Director

Nationality Domicile
India Jakarta
Place and Date of Birth Age
Nagapattinam, June, 23 1964 60 years old

Legal Basis of Appointment

Decision of the Annual General Meeting of Shareholders
No. 37 dated April 30, 2020.

Educational Background Concurrent Positions

∙ Bachelor of Commerce from Bangalore University, MES College ∙ Vice President Commissioner PT Anugerah Kimia Indonesia
(1984) (2020-sekarang)
∙ Chartered Accountancy from the Indian Institute of Chartered ∙ Director PT Anugerah Lubrindo Batam (2020-sekarang)
Accountants, New Delhi (1987) ∙ Director PT Anugerah Lubrindo Raya (2020-sekarang)
∙ Commissioner PT Dirgantara Petroindo Raya (2018-sekarang)
∙ President Commissioner PT Aneka Petroindo Raya
Career History (2018-sekarang)
∙ Corporate Secretary and Head Investor Relations PT AKR Corporindo
Tbk and PT Sorini Agro Asia Corporindo Tbk (2007-2009)
∙ Head of Corporate Finance & Investor Relations PT AKR Corporindo Affiliation Relationships
Tbk. (2004-2007) Has no affiliation with members of the Board of Commissioners,
∙ General Manager Corporate Finance (Engineering) – Texmaco, Board of Directors, or Controlling Shareholders.
Indonesia (2001-2004)
∙ Finance Manager Texmaco Perkasa Engineering (1998-2001)
Share Ownership
∙ Commercial Manager PT Perkasa Heavyndo Engineering (1995-1998)
Holds 3,727,500 shares in the Company.
∙ Finance Manager at Birla 3M Limited, Bangalore (1991–1995)
∙ Assistant Finance Manager at TVS Electronics Limited, Bangalore
(1984–1991)

78 Annual Report 2024

 Nery Polim
Director

Nationality Domicile
Indonesia Jakarta
Place and Date of Birth Age
Medan, December 17, 1964 60 years old

Legal Basis of Appointment

Decision of the Annual General Meeting of Shareholders
No. 37 dated April 30, 2020.

Educational Background Affiliation Relationships

Bachelor of Accounting from California State University of Has no affiliation with members of the Board of Commissioners,
Bakersfield, USA (1988) Board of Directors, or Controlling Shareholders.

Career History Share Ownership

∙ Director of AKR (Guigang) Transshipment Port Company Holds 1,050,000 shares in the Company.
(2014–2017)
∙ Head of People Development (1993–2012)

Concurrent Positions
∙ President Director of PT Anugerah Krida Retailindo (2017–present)
∙ Director of PT AKR Niaga Indonesia (2015–present)
∙ Commissioner of PT Anugrah Karya Raya (2011–present)
∙ Commissioner of PT Usaha Era Pratama Nusantara (2006–present)

Annual Report 2024 79

 Company Profile

Termurti Tiban
Director

Nationality Domicile
Indonesia Jakarta
Place and Date of Birth Age
Medan, July 19, 1970 54 years old

Legal Basis of Appointment

Decision of the Annual General Meeting of Shareholders
No. 37 dated April 30, 2020.

Educational Background ∙ President Commissioner of PT Anugerah Kreasi Pratama

∙ Bachelor of Economics, Trisakti University (1993) Indonesia (2023–present)
∙ Indonesia Certified Public Accountant (CPA -IAPI) and Chartered ∙ Director of PT Berkah Buana Energi (2021–present)
Accountant (CA - IAI) ∙ Director of PT Anugerah Lubrindo Batam (2019–present)
∙ Director of PT Anugerah Lubrindo Raya (2019–present)
∙ Commissioner of PT Berkah Kawasan Manyar Sejahtera
Career History
(2017–present)
Public Accountant Office (KAP) Purwantono, Suherman & Surja
∙ Director of PT Anugerah Krida Retailindo (2017–present)
(Member Firm of Ernst & Young) (before 2014)
∙ Director of PT Usaha Era Pratama Nusantara (2019–present)
∙ Director of PT AKR Sea Transport (2015-present)

Concurrent Positions
∙ Director of PT Terminal Energi Primer (2024–present)
Affiliation Relationships
∙ Director of Chemical Petroleum International Trading PTE.
Has no affiliation with members of the Board of Commissioners,
LTD (2024–present)
Board of Directors, or Controlling Shareholders.
∙ Commissioner of PT AKR Transportasi Indonesia
(2024–present)
∙ Director of PT Berkah Renewable Energi Nusantara (2024–present) Share Ownership
∙ President Commissioner of PT Berkah Bunker Service Holds 450,000 shares in the Company.
(2023–present)

80 Annual Report 2024

Information on Changes in Management
After Fiscal Year 2024
There have been no changes in the composition of the Board of Commissioners and the Board of Directors after the fiscal year
ending on December 31, 2024, up to the deadline for the submission of this Annual Report.

Annual Report 2024 81

 Company Profile

Executive
Officers

Educational Background
∙ Master of Business Administration from University of Technology Sydney (2003)
∙ Bachelor of Economics from Satya Wacana Christian University, Salatiga (1988)

Career History
∙ Head of Petroleum Division, PT AKR Corporindo Tbk (2020 – present)
∙ Commercial Petroleum, PT AKR Corporindo Tbk (2016 – 2020)
∙ Business Development, PT AKR Corporindo Tbk (2006 – 2016)
∙ Supply Chain Manager, PT AKR Corporindo Tbk (2004 – 2006)
∙ Group Product Manager at PT Warner Lambert Indonesia / Pfizer Indonesia
(1992 – 2001)

Johny W Sutanto
Head of Petroleum Division
Joined AKR Age
March 1, 2004 59 years old

Educational Background
Bachelor of Agriculture from Satya Wacana Christian University (1993)

Career History
∙ Head of Chemical & Logistics Division, PT AKR Corporindo Tbk (2020 – present)
∙ Head of Branch Jakarta, PT AKR Corporindo Tbk (2008 – 2020)
∙ Head of Branch Surabaya, PT AKR Corporindo Tbk (2002 – 2008)
∙ Head of Branch, Preferred Banking and Commercial Lending Surabaya, PT Bank
Universal (2000 – 2002)
∙ Branch Manager Solo, PT Bank Bali (1998 – 2000)
∙ Head of Special Asset Management Branch Semarang, PT Bank Bali (1995 – 1998)

Ongkowijono
Soehardjo Hartono
Head Of Chemical & Logistics Division
Joined AKR Age
November 1, 2002 55 years old

82 Annual Report 2024

 Educational Background
Bachelor of Industrial Engineering from University of Surabaya (1996)

Career History
∙ Head of EAST Region, PT AKR Corporindo Tbk (2018 – present)
∙ Head of Branch Surabaya, PT AKR Corporindo Tbk (2013 – 2018)
∙ Deputy Commercial Director, PT AKR Corporindo Tbk (2012 – 2013)
∙ Head of Branch Surabaya, PT AKR Corporindo Tbk (2008 – 2012)
∙ Head of Chemicals Sales, PT AKR Corporindo Tbk (2007 – 2008)
∙ Head of Semarang Branch, PT AKR Corporindo Tbk (2005 – 2007)

Reza Gunawan
Head of East Region
Joined AKR Age
September 16, 1996 52 years old

Educational Background
Bachelor of Civil Engineering from University of San Carlos, Philippines (1988)

Career History
∙ Director – Head of Network & Operation Division, PT AKR Corporindo Tbk
(2018 – present)
∙ Regional Logistics & Technical Manager – Total Oil Asia – Pacific PTE LTD
(2013 – 2018)

Joseph Pangilinan
Head of Network & Operations Division
Joined AKR Age
August 1, 2018 57 years old

Educational Background
∙ Master of Business Administration from Rotterdam School of Management,
Erasmus University, The Netherlands (2000)
∙ Bachelor of Biology, majoring in Environmental Microbiology, Satya Wacana
Christian University, Salatiga (1995)

Career History
∙ Director – Human Resources Division PT AKR Corporindo Tbk (2021 – present)
∙ Human Resources Director, South East Asia Region, Mundipharma (2020 – 2021)
∙ Human Resources Director, PT Mundipharma Healthcare Indonesia (2017-2020)
∙ Human Resources Development Center Head, Upstream Business, PT SMART Tbk
(2013-2016)
∙ Head of Human Resources and General Affairs, PT Nissan Motor Indonesia

Felix Abednego (2011-2013)

Head of Human Resources Division

Joined AKR Age
May 17, 2021 52 years old

Annual Report 2024 83

 Company Profile

Educational Background
Bachelor of Chemical Engineering from Institut Teknologi Sepuluh Nopember (1990)

Career History
∙ Director – Head of Natural Gas & Renewable Energy, PT AKR Corporindo Tbk
(2022 – present)
∙ President Director of PT Jasatama Petroindo (a wholly owned subsidiary of bp) /
Head of bp Trading & Shipping - Indonesia at bp Trading & Shipping, Jakarta
(2014 – 2021)
∙ Business Development Director - Middle East at bp, Singapore (2012 – 2014)
∙ Vice President, Sales and Marketing at bp Indonesia – Tangguh LNG, London
(2010 – 2012)
∙ Marketing, Sales Operations and Shipping Manager at bp Indonesia – Tangguh

Elijas Pudjianto LNG, Jakarta (2005 – 2009)

Head of Natural Gas & Renewable Energy

Joined AKR Age
February 1, 2022 59 years old

Educational Background
• Innovation, Harvard Extension School (2019)
• Master of Management from Universitas Pelita Harapan (2019)
• Bachelor of Informatics from Sekolah Tinggi Teknik Surabaya (1997)

Career History
• DCIO, Gill Capital Group (2022-2024)
• Corporate IT Director, Mitra Keluarga Hospital (2019-2021)
• VP IT, PT Matahari Department Store Tbk (2014-2019)
• Senior IS Manager, PT Merck Tbk (2008-2014)
• CIO, Sanofi Aventis (1998-2007)

Johan Soegiarto
Head of Information Technology Division
Joined AKR Age
September 1, 2024 51 years old

Educational Background
Bachelor of Management from Satya Wacana Christian University (1994)

Career History
∙ Deputy Tax & Accounting PT AKR Corporindo Tbk (2023 – present)
∙ Finance Controller PT AKR Corporindo Tbk (2012 – 2023)
∙ Head of Taxation PT AKR Corporindo Tbk (2010-2012)
∙ Finance Controller PT AKR Corporindo Tbk (2009 – 2010)
∙ Head of Accounting Jakarta Branch PT AKR Corporindo Tbk (2007-2009)
∙ Head of Finance Accounting - Corporate PT AKR Corporindo Tbk (2005-2007)
∙ Accounting Department PT AKR Corporindo Tbk (1995-2005)

Melyati Yuwono
Deputy Tax & Accounting
Joined AKR Age
August 1, 1995 53 years old

84 Annual Report 2024

 Educational Background
∙ Master Of Information & Technology Systems from University of New South Wales
(2000)
∙ Bachelor of Mechanical Engineering from University of Wollongong (1998)

Career History
∙ Deputy Network and Operation I, PT AKR Corporindo Tbk (2023 – present)
∙ Head Of Network & Distribution, PT AKR Corporindo Tbk (2018 – 2023)
∙ Head of Improvement, PT AKR Corporindo Tbk (2017 – 2018)
∙ Head of Operation WEST Region, PT AKR Corporindo Tbk (2016 – 2017)
∙ Head of SHE, PT AKR Corporindo Tbk (2011 – 2016)
∙ Head of South Kalimantan Branch, PT AKR Corporindo Tbk (2009 – 2011)
∙ Head of Operations Jakarta Branch, PT AKR Corporindo Tbk (2006 – 2009)

Yuwono ∙ Head of Distribution Jakarta Branch, PT AKR Corporindo Tbk (2005 – 2006)

Ongkowijoyo
Deputy Network & Operations I
Joined AKR Age
September 12, 2000 48 years old

Educational Background
Bachelor of Information Technology from Bina Nusantara University (2000)

Career History
∙ Deputy Network & Operations II, PT AKR Corporindo Tbk (2023 – present)
∙ Head of Operations Services & Improvement, PT AKR Corporindo Tbk
(2019 – 2023)
∙ Head of IT Business Partner, PT AKR Corporindo Tbk (2018 – 2019)
∙ Lead of Technology Enterprise Enablement Build, PT AKR Corporindo Tbk
(2011 – 2017)
∙ IT Business Analyst, PT AKR Corporindo Tbk (2006 – 2011)

Erpiny Tan
Deputy Network & Operations II
Joined AKR Age
April 1, 2003 46 years old

Annual Report 2024 85

 Company Profile

Composition of the Company’s

Shareholders
Composition of Shareholders Based on Ownership

January 1, 2024 December 31, 2024

No Shareholders Percentage of Percentage of

Number of Shares Number of Shares
Share Ownership Share Ownership
(Units) (Units)
(%) (%)

Share Ownership of 5% or More

PT Arthakencana
1. 12,077,492,600 60.2 12,768,961,300 63.6%
Rayatama
Ownership of Less Than 5%
Board of Commissioners
2. 350,219,900 1.7 358,519,900 1.8%
& Board of Directors
3. Public 7,309,457,100 36.4 6,625,338,400 33.0%
4. Treasury Stock 336,305,000 1.7 320,655,000 1.6%
Total 20,073,474,600 100.0 20,073,474,600 100.0

33.0% 63.6%
PT Arthakencana Rayatama
Public (each ownership below 5%)

1.8%
1.6% Board of
Commissioners &
Treasury Stock Board of Directors

86 Annual Report 2024

Top 20 Shareholders

31 December 2024
No Shareholders Status Number of Shares Percentage of Share
(Units) Ownership (%)

LIMITED LIABILITY
1. PT. ARTHAKENCANA RAYATAMA 12,768,961,300 63.61%
COMPANY
BNYM RE BNYMLB RE EMPLOYEES MALAYSIA - TAX
2. 647,500,000 3.23%
PROVIDENTFD BOARD-2039927326 TREATY
NORWAY -
CITIBANK NEW YORK S/A
3. GOVERNMENT_TAX_ 270,236,700 1.35%
GOVERNMENT OF NORWAY - 15
TREATY
BP2S LONDON S/A ABERDEEN INSTITUTION -
4. 230,174,200 1.15%
STANDARD ASIA FOCUS PLC FOREIGN
INDIVIDUAL -
5. HARYANTO ADIKOESOEMO 205,604,600 1.02%
DOMESTIC
NORWAY -
CITIBANK NEW YORK S/A
6. GOVERNMENT_TAX_ 151,232,200 0.75%
GOVERNMENT OF NORWAY - 2
TREATY
CITIBANK LONDON S/A PACIFIC INSTITUTION -
7. 134,822,300 0.67%
CAPITAL UCITS FUNDS PLC FOREIGN
PT. AXA MANDIRI FINANCIAL
8. SERVICES S/A MANDIRI DYNAMIC INSURANCE NPWP 129,690,600 0.65%
EQUITY MONEY RUPIAH
JPMCB NA RE-VANGUARD TOTAL UNITED STATES OF
9. 112,572,807 0.56%
INTERNATIONAL STOCK INDEX FUND AMERICA - TAX TREATY
SSB 2Q27 ISHARES CORE
UNITED STATES OF
10. MSCI EMERGING MARKETS ETF 111,674,100 0.56%
AMERICA - TAX TREATY
-2183966403
DB SPORE SES CLT A/C FOR INSTITUTION -
11. 111,173,600 0.55%
PANGOLIN ASIA FUND-864134001 FOREIGN
JPMCB NA RE - VANGUARD
UNITED STATES OF
12. EMERGING MARKETS STOCK INDEX 109,373,725 0.54%
AMERICA - TAX TREATY
FUND
INDIVIDUAL -
13. SOEGIARTO ADIKOESOEMO 101,604,800 0.51%
DOMESTIC
PT. PRUDENTIAL LIFE ASSURANCE -
14. INSURANCE NPWP 76,122,900 0.38%
REF
CITIBANK EUROPE PLC LUX BRANCH
INSTITUTION -
15. S/A ABRDN SICAV I - ASIAN SMALLER 74,367,300 0.37%
FOREIGN
COMPANIES FUND
CITIBANK SINGAPORE S/A ART A/C
MALAYSIA - TAX
16. PUBLIC ISLAMIC ASEAN GROWTH 72,300,000 0.36%
TREATY
FUND
BNYMSANV RE BNYMIL RE PACIFIC INSTITUTION -
17. 72,074,700 0.36%
HORIZON INV TRT PLC-2039844235 FOREIGN
HSBC BANK PLC RE: LXG/HSBC
GLOBAL INVESTMENT FUNDS ASIA INSTITUTION -
18. 70,559,000 0.35%
PACIFIC EX JAPAN EQUITY HIGH FOREIGN
DIVIDEND
19. DANA PENSIUN ASTRA DUA PENSION FUND 67,381,700 0.34%
INSTITUTION -
20. JPMCB NA RE-TFL PENSION FUND 67,006,736 0.33%
FOREIGN
Total 15,584,433,268 77.64%

Annual Report 2024 87

 Company Profile

Composition of Shareholders Based on Ownership

1 January 2024 31 December 2024

Shareholders Percentage Percentage

Number of Number of Number of Number of
of Share of Share
Owners Shares (Units) Owners Shares (Units)
Ownership (%) Ownership (%)

Domestic Investor
Individual 13,427 846,634,183 4.22% 24,816 965,300,583 4.81%
Domestic Institution
Limited Liability
53 12,487,201,590 62.21% 73 13,163,594,263 65.58%
Company
Mutual Fund 199 852,353,988 4.25% 162 492,390,077 2.45%
Insurance 153 861,048,400 4.29% 137 636,411,500 3.17%
Foundations 58 191,999,500 0.96% 59 272,246,100 1.36%
Cooperatives &
1 25,000 0.00% 0 0 0.00%
Others
Sub-Total
Domestic 464 14,392,628,478 71.71% 431 14,564,641,940 72.56%
Institutions
Total Domestic
13,891 15,239,262,661 75.92% 25,247 15,529,942,523 77.37%
Investors
Foreign Investor
Individual 78 33,048,400 0.16% 77 10,684,100 0.05%
Foreign Institution
Business Entity 326 4,801,163,539 23.92% 304 4,532,847,977 22.58%
Total Foreign
404 4,834,211,939 24.08% 381 4,543,532,077 22.63%
Investors
Total 14,295 20,073,474,600 100.00% 25,628 20,073,474,600 100.00%

88 Annual Report 2024

 Percentage of AKR Share Ownership Based on Status

Shareholders 2020 2021 2022 2023 2024

Domestic Retail 6.34 4.45 3.77 4.22 4.81

Domestic
72.95 68.57 72.77 75.92 72.56
Institution
Foreign Retail 0.26 0.18 0.18 0.16 0.05
Foreign Institution 20.45 26.81 27.23 24.08 22.63

Percentage of Domestic Shareholders

80% 30,000

78% 25,247
25,000

76%

20,000
74%

14,225 13,264 13,891 77.37%

72% 15,000

75.92%
10,073
70%
10,000
72.95% 72.77%
68%

68.57% 5,000
66%

64% 0
2020 2021 2022 2023 2024
% of domestic shareholders number of domestic shareholders

Stock Split Information Following shareholder approval through the EGMS, the
At the Extraordinary General Meeting of Shareholders Company submitted its share listing application on December
(EGMS) held on November 11, 2021, AKR sought approval for 24, 2021, with the stock split becoming effective on January
a stock split of AKRA shares with a ratio of 1:5. The unanimous 12, 2022. Post-stock split, the nominal value of AKRA shares
approval was granted at the EGMS on December 20, 2021, in was adjusted from Rp100 per share to Rp20 per share.
accordance with applicable procedures and regulations. Consequently, the total number of AKRA shares increased
from 4,014,694,920 shares to 20,073,474,600 shares.

Direct Share Ownership of the Board of Commissioners and Board of Directors

1 January 2024 31 December 2024

No Shareholders Position Percentage Percentage

Number of Number of
of Share of Share
Shares (Units) Shares (Units)
Ownership (%) Ownership (%)

Board of Commissioners

Soegiarto President
1 100,604,800 0.50% 101,604,800 0.51%
Adikoesoemo Commisioner
2 Sofyan A. Djalil Commisioner Nil Nil Nil Nil
Mohamad Fauzi Independent
3 Nil Nil Nil Nil
Maulana Ichsan Commisioner

Annual Report 2024 89

 Company Profile

1 January 2024 31 December 2024

No Shareholders Position Percentage Percentage

Number of Number of
of Share of Share
Shares (Units) Shares (Units)
Ownership (%) Ownership (%)

Directors

Haryanto President
4 203,604,600 1.01% 205,604,600 1.02%
Adikoesoemo Director
5 Jimmy Tandyo Director 37,500,000 0.19% 39,000,000 0.19%
Bambang
6 Soetiono Director 3,780,000 0.02% 4,780,000 0.02%
Soedijanto
7 Mery Sofi Director 603,000 0.003% 2,303,000 0.011%
8 Suresh Vembu Director 3,627,500 0.02% 3,727,500 0.02%
9 Nery Polim Director 450,000 0.002% 1,050,000 0.005%
10 Termurti Tiban Director 50,000 0.0002% 450,000 0.0022%
Total 350,219,900 1.74% 358,519,900 1.79%

Profile of Major/Controlling Shareholders Up to the True Owner

Company Name PT Arthakencana Rayatama (AKRT)

Brief History PT Arthakencana Rayatama (AKRT) is the parent entity of the Company, holding a 63.61% stake.
AKRT was established under Deed of Establishment No. 297, dated November 23, 1992, drawn
up before Tegoeh Hartanto, S.H., Notary in Jakarta. The Company received approval from
the Minister of Justice of the Republic of Indonesia through Decree No. C2-10481.HT.01.01.
Th.92, dated December 26, 1992, published in the State Gazette No. 51, dated June 25, 1993,
Supplement to the State Gazette No. 2860/1993.

The Company's Articles of Association have undergone several amendments, most recently
formalizing the Deed of Resolution of the Shareholders of AKRT No. 23, dated April 12, 2023,
drawn up by Yulia, S.H., Notary in South Jakarta, and approved by the Minister of Law and Human
Rights through Decree No. 0088097.AH.01.02.Tahun 2022, dated April 14, 2023.

Purpose, As stated in Article 3 of AKRT’s Articles of Association, outlined in Deed No. 23 dated April 12,
Objectives, and 2023, prepared by Yulia, S.H., Notary in South Jakarta, the scope of AKRT’s business activities
Business Activities includes holding company activities, wholesale trade on a fee or contract basis, wholesale
trade of solid, liquid, and gaseous fuels and related products, wholesale trade of chemicals and
chemical products, wholesale trade of aircraft, spare parts, and accessories, manufacturing
of petroleum refinery products, pipeline transportation, motorized transport for general and
special goods, domestic sea transport for special goods, warehousing and storage activities,
bonded warehousing or bonded zone activities, storage of oil and natural gas, port services
for sea, river, and lake transport, leasing and rental services without purchase options for cars,
buses, trucks, and aircraft, civil building prefabrication construction services, other electric
power support activities, procurement and distribution of natural and synthetic gas, other
management consulting services, and real estate ownership or leasing activities.

90 Annual Report 2024

Management Board of Commissioners Directors
President Commissioner : Soegiarto Adikoesoemo President Director : Haryanto Adikoesoemo
Commissioner : Yuwono Ongkowijoyo Director : Jimmy Tandyo
Commissioner : Irawati Adikoesoemo Director : Cynthia Theresia Buniardi
Commissioner : Sintawati Ongkowijoyo

Company Address AKR Tower 26th Floor,

Jl. Panjang No. 5,
Kebon Jeruk Subdistrict, Kebon Jeruk District, West Jakarta 11530
Telp: 021 5311110

Ownership Structure as of December 31, 2024

51% 49%

Soegiarto Adikoesoemo Haryanto Adikoesoemo

63.6% 36.4%

PT Arthakencana Rayatama Public*

*) including 1.6% treasury shares

and 1.8% shares ownership by
the Board of Commissioners and
Board of Directors

PT AKR Corporindo Tbk

Annual Report 2024 91

 Company Profile

Share Listing
Chronology
AKR officially listed its shares on the Indonesia Stock Exchange on October 3, 1994. The chronology of the Company’s share
listings up to December 31, 2024, is presented as follows:

Par Value Total

Additional
Date Corporate Action per Share Outstanding Listing
Shares Issued
(Rp) Shares

Initial Public Offering Indonesia Stock

October 3, 1994 1,000 15,000,000 65,000,000
@ Rp1,000 Exchange
Indonesia Stock
February 27, 1996 Bonus Shares 6 : 10 1,000 39,000,000 104,000,000
Exchange
September 25, Indonesia Stock
Stock Split 1 : 1 500 104,000,000 208,000,000
1996 Exchange
Rights Issue 1 : 2 @ Indonesia Stock
October 1, 2004 500 416,000,000 624,000,000
Rp500 Exchange
Indonesia Stock
July 27, 2007 Stock Split 1 : 5 100 2,496,000,000 3,120,000,000
Exchange
April & October MSOP 2007 Indonesia Stock
100 5,400,000 3,125,400,000
2008 Conversion Phase I Exchange
MSOP 2007
Indonesia Stock
October 2009 Conversion Phases I 100 12,892,500 3,138,292,500
Exchange
and II
Rights Issue II 1 : 5 @ Indonesia Stock
January 29, 2010 100 627,658,500 3,765,951,000
Rp860 Exchange
MSOP 2007
April & October Indonesia Stock
Conversion Phases I, 100 26,985,000 3,792,936,000
2010 Exchange
II, and III
MSOP 2007
April & October Indonesia Stock
Conversion Phases II, 100 29,050,000 3,821,986,000
2011 Exchange
III, and IV
MSOP 2007
Indonesia Stock
April 2012 Conversion Phases III, 100 29,457,500 3,851,443,500
Exchange
IV, and V
MSOP 2007
Conversion Phases IV Indonesia Stock
April 2013 100 29,284,000 3,880,727,500
and V; and MSOP 2011 Exchange
Conversion Phase I
MSOP 2007
Conversion Phase
April & October Indonesia Stock
V; and MSOP 2011 100 32,910,174 3,913,637,674
2014 Exchange
Conversion Phases I
and II
MSOP 2011
April & October Conversion Phases I Indonesia Stock
100 35,392,561 3,949,030,235
2015 and II; and MSOP 2014 Exchange
Conversion
MSOP 2011
Conversion
April & October Phase II, MSOP Indonesia Stock
100 42,750,935 3,991,781,170
2016 2014 Conversion, Exchange
and MSOP 2015
Conversion

92 Annual Report 2024

 Par Value Total
Additional
Date Corporate Action per Share Outstanding Listing
Shares Issued
(Rp) Shares

MSOP Plan I
Conversion (2015)
April and for the MSOP 2015
Indonesia Stock
October Program and MSOP 100 14,548,250 4,006,329,420
Exchange
2017 Plan II Conversion
(2016) for the MSOP
2015 Program
MSOP Plan I
Conversion (2015)
for the MSOP 2015
Program, MSOP Plan
II Conversion (2016) Indonesia Stock
April 2018 100 8,365,500 4,014,694,920
for the MSOP 2015 Exchange
Program, and MSOP
Plan III Conversion
(2017) for the MSOP
2015 Program
No corporate actions Indonesia Stock
2019 100 0 4,014,694,920
throughout 2019 Exchange
March 16, 2020 - Indonesia Stock
Share Buyback (67,261,000) 4,014,694,920
June 12, 2020 Exchange
Indonesia Stock
January 12, 2022 Stock Split 1 : 5 100 20,073,474,600
Exchange
MSOP Plan I Indonesia Stock
August 1, 2024 499 15,650,000 20,073,474,600
Conversion (2024) Exchange

Information on Sukuk and

Convertible Bonds
As of December 31, 2024, the Company has not issued any sukuk or convertible bonds. Therefore, information regarding the
number of outstanding sukuk/convertible bonds is not disclosed in this annual report.

Annual Report 2024 93

 Company Profile

Company Group
Structure

Integrated Industrial Manufacturing &

Trading & Distribution Logistics Services
Estate & Port Others

99,99% 99,99% 65,00% 99,97% 51,00% 99,99% 99,96%

PT Berkah
PT AKR PT Anugerah PT Jakarta PT Usaha
PT Berkah Renewable PT Arjuna
Niaga Krida Tank Era Pratama
Buana Energi Energi Utama Kimia
Indonesia Retailindo Terminal Nusantara
Nusantara

51,00% 50,10% 99,99% 99,99%

45,00% 60,00% 40,00%
PT Anugerah PT Aneka
PT AKR Sea PT Anugrah
Kimia Petroindo PT Berkah
Transport PT Energi PT Berlian Karya Raya
Indonesia Raya Kawasan
Manyar Manyar
Manyar
Sejahtera* Sejahtera
Sejahtera
50,10% 99,90%
*Dissolved in
PT January 2025
PT AKR
Dirgantara through Deed
Transportasi
Petroindo No. 29 dated
Indonesia
Raya
January 16,
2025
80,00% 99,99%

PT Anugerah PT Usaha
Lubrindo Era Pratama
Raya Nusantara

99,90% 99,96%

PT Anugerah
PT Terminal
Lubrindo
Energi Primer
Batam

100,00% 99,99%

Lubrindo
PT
Shipping
Andahanesa
Services Pte
Abadi
Ltd

99,99% 60,00%

PT Berkah
PT Terminal
Bunker
Nilam Utara
Service

99,99%

PT Anugerah
Kreasi
Pratama
Indonesia

Joint Ventures

PT Berkah Kawasan
PT Anugerah Kimia Indonesia PT Aneka Petro Indo Raya PT Jakarta Tank Terminal
Manyar Sejahtera

PT Berlian Manyar Sejahtera PT Dirgantara Petroindo Raya

94 Annual Report 2024

Subsidiaries and
Associates
% Year of
Operational Year of Total Assets
Subsidiary Line of Business Address Ownership Capital
Status Commencement (Rp Million)
by AKR Investment

Direct Ownership
Logistics
PT Usaha Services
Era Pratama Cargo Loading Surabaya,
99.99 Operating 2000 2000 12,171,806
Nusantara and Unloading East Java
(UEPN) Services (from
and to ships)
PT
West
Andahanesa Logistic
Jakarta, DKI 99.99 Operating 1982 2007/1982 612,297
Abadi Services
Jakarta
(Andahanesa)
PT Arjuna Adhesive
Surabaya,
Utama Kimia Material 99.96 Operating 1976 1996/1976 377,797
East Java
(Aruki) Manufacturing
PT Anugrah West
Coal Mining
Karya Raya Jakarta, DKI 99.99 Operating 2011 2009 756
and Trading
(Anugrah) Jakarta
Storage Tank
Terminal
(Management North
PT Jakarta Tank
and leasing of Jakarta, DKI 51.00 Operating 2010 2005 1,179,575
Terminal (JTT)
fuel storage Jakarta
tanks, including
derivatives)
Domestic
West
PT AKR Sea Shipping (Sea
Jakarta, DKI 99.99 Operating 2013 2011 867,263
Transport (AST) transportation
Jakarta
services)
West
PT AKR Niaga Basic Chemical
Jakarta, DKI 99.90 Operating 2013 2012 79,595
Indonesia (ANI) Trading
Jakarta
Logistics
PT AKR West
Services (Land
Transportasi Jakarta, DKI 99.90 Operating 2013 2013 255,182
Transportation
Indonesia (ATI) Jakarta
Services)
PT Anugerah West
Krida Retailindo General Trading Jakarta, DKI 99.99 Operating 2018 2016 2,107,729
(AKRIDA) Jakarta
PT Berkah West
Gas Trading & Not Yet
Buana Energi Jakarta, DKI 65.00 - 2021 54,898
Distribution Operating
(BBE) Jakarta
PT Berkah Power
Renewable Generation,
Gresik, East Not Yet
Energi Operation, 99.97 - 2024 30,914
Java Operating
Nusantara Construction,
(BREN) and Installation
Energy
PT Terminal Gresik, East Not Yet
Logistics 99.99 - 2024 25,083
Energi Primer Java Operating
Services

Annual Report 2024 95

 Company Profile

% Year of
Operational Year of Total Assets
Subsidiary Line of Business Address Ownership Capital
Status Commencement (Rp Million)
by AKR Investment

Chemical
Petroleum Basic Chemical
International and Fuel Singapore 100 Operating 2024 2024 84,000
Trading PTE. Trading
LTD
Indirect Ownership, Through PT Usaha Era Pratama Nusantara (UEPN)
PT Berkah
Kawasan
Industrial Gresik, East
Manyar 60.00 Operating 2015 2012 11,671,519
Estate Java
Sejahtera
(BKMS)
PT Berlian
Gresik, East
Manyar Port Area 40.00 Operating 2015 2002 1.909.184
Java
Sejahtera
Indirect Ownership, Through PT Andahanesa Abadi
PT Terminal
Logistic Surabaya,
Nilam Utara 60.00 Operating 2018 2013 373,079
Services East Java
(TNU)
PT Anugerah
Kreasi Pratama Warehousing Gresik, East Not Yet
99.99 - 2023 232,826
Indonesia and Storage Java Operating
(AKPI)
West
PT Krida Jasa Logistic Not Yet
Jakarta, DKI 99.80 - - 459
Utama (KJU) Services Operating
Jakarta

Indirect Ownership, Through PT Anugerah Krida Retailindo (AKRIDA)

PT Aneka West
Trading (Retail
Petroindo Raya Jakarta, DKI 50.10 Operating 2018 2017 1,912,311
Fuel Marketing)
(APR) Jakarta
Trading
PT Dirgantara (Airport- West
Petroindo Raya Related Jakarta, DKI 50.10 Operating 2019 2017 75,481
(DPR) Services in Jakarta
Indonesia)
PT Anugerah Trading West
Lubrindo Raya (Lubricant Oil Jakarta, DKI 80.00 Operating 2019 2019 98,335
(ALR) Marketing) Jakarta
PT Berkah North
Seaport Not Yet
Bunker Service Jakarta, DKI 99.99 - - 20,060
Services Operating
(BBS) Jakarta
Indirect Ownership, Through PT Anugerah Lubrindo Raya (ALR)
PT Anugerah Trading West
Lubrindo (Lubricant Oil Jakarta, DKI 99.90 Operating 2019 2019 4,313
Batam (ALB) Marketing) Jakarta
Lubrindo
General Trading
Shipping
(Lubricant Oil Singapore 100 Operating 2019 2019 7,915
Services Pte,
Marketing)
Ltd (LSS)
Through PT AKR Niaga Indonesia
Wholesale
PT Anugerah West
Trade of Basic
Kimia Indonesia Jakarta, DKI 51.00 Operating 2021 2020 78,527
Chemicals and
(AKI) Jakarta
Materials

96 Annual Report 2024

Public
Accounting Firm
For the 2024 fiscal year, AKR appointed the Public Accounting In conducting the audit, the appointed PAF must be free
Firm (PAF) Purwantono, Sungkoro & Surja as an independent from any conflict of interest with the Company to ensure
external party to provide an opinion on the compliance of the the independence and quality of the audit results. The PAF
Financial Statements with the Indonesian Financial Accounting is responsible for providing an opinion on the Company’s
Standards (SAK). This appointment was made in accordance Financial Statements' compliance with the generally accepted
with OJK Regulation No. 13/OJK.03/2017 on the Use of Public Financial Accounting Standards (SAK).
Accountants and Public Accounting Firms in Financial Services
Activities, and based on the resolution of the Annual General
Meeting of Shareholders (AGMS) on April 29, 2024, following
recommendations from the Board of Commissioners and the
Audit Committee.

Mechanism for Appointing a Public Accountant

The mechanism for appointing a Public Accountant 3. The Board of Commissioners grants approval for the
implemented by the Company is as follows: appointment of the PAF to conduct a general audit of the
1. The Audit Committee conducts an evaluation of the Public Company’s Consolidated Financial Statements for the
Accounting Firm (PAF). 2024 fiscal year.
2. The procurement of PAF services for the 2023 fiscal 4. The Board of Commissioners proposes the appointment
year is reported by the Audit Committee to the Board of of the PAF to the 2024 Annual General Meeting of
Commissioners. Shareholders (AGMS) for final approval.

Public Accounting Firms (PAF) and Public Accountants Over the Last 5 Years

The Public Accounting Firm (PAF) that audited the Company's Financial Statements for the 2024 fiscal year was PAF Purwantono,
Sungkoro & Surja. The appointment was established through the Annual General Meeting of Shareholders (AGMS) Resolution
No. 17 dated April 29, 2024, concerning an independent Public Accounting Firm to audit the Company's books for the fiscal year
ending December 31, 2024. Information regarding the PAF and Public Accountants over the last five (5) years is as follows:

Fiscal Year Public Accounting Firm Name of Accountant Fee

2024 KAP Purwantono, Sungkoro & Surja Benyanto Suherman Rp1,700,000,000

2023 KAP Purwantono, Sungkoro & Surja Benyanto Suherman Rp1,460,000,000
2022 KAP Purwantono, Sungkoro & Surja Feniwati Chendana, CPA Rp1,390,000,000
2021 KAP Purwantono, Sungkoro & Surja Feniwati Chendana, CPA Rp1,390,000,000
2020 KAP Purwantono, Sungkoro & Surja Feniwati Chendana, CPA Rp1,390,000,000

Additional Services

In the 2024 fiscal year, Purwantono, Sungkoro & Surja also provided agreed-upon procedures services for the Report on the
Implementation of Prudential Principles in the Management of Non-Bank Corporate Foreign Debt (KPPK Report). The fees
incurred for this service amounted to Rp190 million.

Annual Report 2024 97

 Company Profile

Capital Market Supporting Institutions and

Professions
Name of Institution/ Assignment
Address Services
Profession Period

Securities Administration
Gedung Plaza Sentral, Lt.2
Jl. Jend. Sudirman Kav. 47-48
PT Raya Saham Jakarta 12930
Share Administration Services 2024
Registra 021-2525666
021-2525028 [email protected]
www.registra.co.id
Trustee
Bank Mega Lt. 16,
Jl. Kapten P. Tendean
PT Bank Mega Tbk No.12-14A Jakarta
Capital 021-2525666 AKR Corporindo Sustainable Bond
2017-2024
Market Services 021-79175000 Phase 2017
(CAMS) 021-7990720
[email protected]
www.bankmega.com
Credit Rating Agency
Panin Tower Senayan City, 17th Floor
Jl. Asia Afrika Lot.19, Gelora
PT Pemeringkat Efek AKR Corporindo Sustainable Bond
Jakarta Pusat 12220 021-72782380 2024
Indonesia Phase 2017
021-7278-2370
www.pefindo.com
Legal Consultant
Menara Batavia 7th Floor
Jl. K.H. Mas Mansyur Kav.126,
Jakarta 10220, Indonesia
Makes & Partners Law
021-574-7181 Legal Consulting Services 2024
Firm
021-574-7180
[email protected]
www.makeslaw.com
Notary
Menara Sudirman Lt. 18,
Minutes of the Annual General
Notary Office Aryanti Jl Jend Sudirman Kav. 60, 2024
Meetings of Shareholders of
Artisari, S.H., M.Kn Jakarta Selatan
AKR 2024
021 – 5204778
Informasi Perdagangan Saham dan Efek
Indonesia Stock Exchange Building,
1st Tower
PT Bursa Efek
Jl. Jend. Sudirman Kav 52-53 Stock Listing 2024
Indonesia
Jakarta Selatan 12190, Indonesia
0800-100-9000 (Free)

98 Annual Report 2024

Annual Report 2024 99
 Company Profile

Company
Website
AKR maintains an official website accessible to all 4. Good Corporate Governance (GCG)
stakeholders at www.akr.co.id. The website serves as a • Corporate Governance Reports
testament to the Company’s commitment to information • Guidelines for the Board of Commissioners and
transparency in accordance with the Financial Services Directors
Authority (OJK) Regulation No. 8/POJK.04/2015 concerning • Company Policies
the Website of Issuers or Public Companies. • Corporate Secretary
• Audit Committee
The Company continuously enhances the quality and • Internal Audit
functionality of its website to facilitate easy access to • Articles of Association
information. Regular updates ensure that all parties have • Audit Committee Charter
access to the latest information regarding the Company and • Nomination and Remuneration Committee Charter
its products. Information is presented in both Indonesian and • Internal Audit Charter
English, with clear objectives covering various aspects of the • Code of Conduct
Company, including: • Company Policies (Risk Management, Anti-Corruption,
Supplier Selection, and Creditor Rights)
1. Company Information/Profile • ASEAN Corporate Governance Scorecard
• Company History • Whistleblowing System
• Business Structure
• Board of Commissioners and Directors Profile 5. Environmental, Social, and Governance (ESG)
• Corporate Values 6. Awards
• Auditor Information 7. HR Department Microsite
• Audit Committee Profile 8. Retail Microsite

2. Core Business Activities This website also presents various other relevant information
• Trading & Distribution of Basic Chemicals to support the needs of stakeholders.
• Trading & Distribution of Industrial Fuels
• Lubricants
• Logistics Services
• Java Integrated Industrial and Ports Estate (JIIPE)

3. Investors
• Investor Contact
• Stock Information
• Shareholder Information
• Dividend Information
• Event Calendar
• Annual Reports
• Sustainability Reports
• Quarterly Financial Reports
• Corporate Presentations
• Latest AKR News
• Public Expose Materials
• Analyst Coverage and Recommendations
• Information Disclosure on Shareholders, Annual
General Meeting (AGM), and Extraordinary General
Meeting (EGM)

WWW.AKR.CO.ID

100 Annual Report 2024

 Availability on
Description Remarks
AKR Website

Shareholder Information up to
Available https://www.akr.co.id/shareholding-information
Ultimate Individual Ownership
Corporate Group Structure Available https://www.akr.co.id/business-structure
Code of Conduct Content Available https://www.akr.co.id/gcg/charter-policies/code-of-conduct-2
General Meeting of
Available https://www.akr.co.id/shareholders-agm-eogm
Shareholders (GMS)
Annual Financial Reports Available https://www.akr.co.id/quarterly-financial-report
Board of Commissioners and
Available https://www.akr.co.id/board-of-commissioners-directors
Directors Profile
https://www.akr.co.id/gcg/charter-policies/guideline-for-bod-boc
Charters of the Board of
https://www.akr.co.id/gcg/charter-policies/audit-committee-
Commissioners, Board of
Available charter https://www.akr.co.id/gcg/charter-policies/nomination-
Directors, Committees, and
remuneration-charter https://www.akr.co.id/gcg/charter-policies/
Internal Audit Unit
internal-audit-charter
https://www.akr.co.id/gcg/charter-policies/ whistleblowing-system-
Whistleblowing system Available
anti-corruption-policy https://wbs.akr.co.id/

Annual Report 2024 101

 Company Profile

Operational Areas and

Office Address List
Head Office

PT AKR Corporindo Tbk

AKR Tower Lt 26
Jl. Panjang No.5, Kebon Jeruk
Jakarta Barat 11530, Indonesia
Telp : +62 21 531 1110
Fax : +62 21 531 1388, 531 1185

Branch/Representative Office

West Region East Region

BANDUNG BALI
Kawasan Industri Cimareme V No. 5 Ngamprah, Jl. Ikan Tuna 1, Pelabuhan Benoa
West Bandung 40553, Indonesia South Denpasar, Bali, Indonesia
Telp : +62 22 686 5000 Telp : +62 361 720743
Fax : +62 22 686 4649 Fax : +62 361 720563

CIWANDAN BALIKPAPAN
Jl. Pelindo II Ciwandan Gedung BRI Lt.5,
Cilegon Banten Jl. Jend. Sudirman No.37,
Telp : +62 254 602088/87/131 Balikpapan, East Kalimantan 76112, Indonesia
Fax : +62 251 602130, 602132 Telp : +62 542 736771

LAMPUNG BANJARMASIN
Jl. Sumatera, Komplek Pelindo II Pelabuhan Martapura Baru Trisakti,
Panjang Bandar Lampung 35241, Indonesia Kawasan Pelindo Banjarmasin,
Telp : +62 721 343100, 341650 South Kalimantan 70119, Indonesia
Fax : +62 721 343333 Telp : +62 511 442 3279
Fax : +62 511 442 3289

MEDAN MANADO dan Sekitarnya

Jl. Road 3 Gabion (Samping Semen Padang) Grand Kawanua Novotel Manado Lt III,
Medan Belawan, 20414 Jl. AA Maramis - Kayuwatu / Kairagi II Manado 95254,
Telp : 061-6945001 North Sulawesi
Telp : +62 431 818 911-12

PALEMBANG SURABAYA
Jl. Belabak 36A/ 3 Ilir Jl. Sumatera No. 51-53
Palembang 30116, Indonesia Surabaya 60281, Indonesia
Telp : +62 711 717636, 717644, 717645 Telp : +62 31 503 4871/72
Fax : +62 711 710072 Fax : +62 31 328 4726

PONTIANAK MOROWALI
Jl Raya Wajok Hilir km 16, Desa Wajok Hilir Jl. Trans Sulawesi, Desa Bahomotefe
Kecamatan Siantan, Kabupaten Kalimantan Barat, 78111 Kecamatan Bungku Timur, Morowali, Sulawesi Tengah, 94973
Telp : 0561-763771

102 Annual Report 2024

Terminals/Transportation/Warehousing

TANJUNG PRIOK STAGEN

Jl. Aceh, Pelabuhan Tanjung Priok, JL Raya Stagen
Pos E Samping PT. Bimoli, North Jakarta, Indonesia Komplek PELINDO III - Stagen Pulau Laut Utara - Kab. Kota
Telp : +62 21 4372318 Baru, South Kalimantan - 72151, Indonesia
Fax : +62 21 43930017 Telp : +62 518 607 2372

MARUNDA 1 SURABAYA
Jl. Ambon Blok A1 No. 5,6,7 Jl. Margomulyo 44
KBN Marunda North Jakarta, Indonesia Pergudangan Suri Mulia Kav. A6-8, Surabaya, Indonesia
Telp : +62 21 440 6569, 440 6570 Telp : +62 31 749 1041
Fax : +62 21 440 6571 Fax : +62 31 749 1045, 748 2241

MARUNDA 2 BITUNG
Jl Semarang Blok A6 No. 2 Jl. Wolter Monginsidi KM 4
KBN Marunda, North Jakarta, Indonesia Kelurahan Paceda, Kecamatan Bitung Tengah, Kota Bitung,
Telp : +62 21 441 5979, 441 5977 North Sulawesi, Indonesia
Telp : +62 438 2230734, 2230733

NILAM TIMUR SEMARANG

Terminal AKR I Grand Kawanua Novotel Manado Lt III,
Jl. Nilam Timur, No. 21, Surabaya, Indonesia Jl. AA Maramis - Kayuwatu / Kairagi II Manado 95254,
Telp : +62 31 328 2965, 329 1979 North Sulawesi
Fax : +62 31 329 1977 Telp : +62 431 818 911-12

NILAM UTARA MEDAN

Terminal AKR II Jl. Anggada 1, Pelabuhan Ujung
Jl. Nilam Utara, No.2, Surabaya, Indonesia Baru Belawan, Medan 20411, Indonesia
Telp : +62 31 329 5008, 3292 252 Telp : +62 61 694 4091
Fax : +62 31 329 2252 Fax : +62 61 649 4268

PALARAN
Terminal AKR II
JL Trikora RT 25, Jembatan Kuning,
Kelurahan Handil Bakti, Palaran, Samarinda,
East Kalimantan, Indonesia
Telp : +62 541 6522 204, 6522 544

Annual Report 2024 103

 04
Management
Discussion and
Analysis
 Management Discussion and Analysis

Economy and Industry

Review
Global and National Economic Analysis

In 2024, the global economy recorded moderate growth of 3.2%, in line with International Monetary Fund (IMF) projections in
the January 2025 edition of the World Economic Outlook report, which has remained unchanged since July 2024. Although
global inflation showed a declining trend—estimated at 4.4% in 2024 and 4.2% in 2025—economic recovery continues to
face significant challenges, with geopolitical uncertainties, rising protectionism, and high levels of public debt the main factors
weighing on the pace of growth.

Growth Projection – January

2025 Update

Global Economic Advanced Economy Emerging Market & Developing Economies

3.3 3.3 1.9 4.4

4.2 4.2
3.2
1.7 1.7

2023 2024 2025 2023 2024 2025 2023 2024 2025

Rising geopolitical tensions, including conflicts and political This growth is supported by an increase in investment in
risks in various parts of the world, have negatively impacted the fourth quarter of 2024, in line with the completion of
global market stability and international trade flows. In various National Strategic Projects (PSN) and private sector
addition, policy shifts in several countries—such as restrictions investments bolstered by government incentives. In addition,
on trade and investment—have hindered global supply chains household consumption is also projected to grow positively,
and reduced economic efficiency. The IMF has warned of driven by a stable Consumer Confidence Index (CCI) at 127.7,
long-term risks related to potential economic stagnation due with the Current Economic Condition Index at 116.0 and the
to low growth trajectories and high debt burdens, which could Consumer Expectation Index at 139.5.
affect economic and social stability across nations.
Government spending is expected to rise in line with a surge
Despite uncertainties in global economics, national economic in year-end expenditure activities. However, non-oil and gas
growth has remained within the range of 4.95% to 5.11% exports are predicted to slow down, as the global economic
with Finance Minister Sri Mulyani projecting that Indonesia's recovery is still ongoing and has yet to fully strengthen.
economy would grow by 5% in 2024, slightly lower than the
previous year's growth of 5.05%.

Industry Analysis and AKR’s Position within the Industry

Fluctuations in global oil prices in 2024 continued to be a In the first quarter of 2024, the Indonesian government set the
major factor influencing the petroleum distribution industry average Indonesian Crude Price (ICP) at USD80.33 per barrel,
in Indonesia. Amid efforts by oil-producing countries under an increase compared to December 2023, and triggered by
the Organization of the Petroleum Exporting Countries and its heightened global uncertainty and supply disruptions due to
allies (OPEC+) to stabilize the market through production cuts, ongoing geopolitical risks in the Red Sea region. By way of
price volatility was driven by geopolitical tensions and shifts in comparison, the price of Dated Brent during the same period
global demand. was recorded at USD80.23 per barrel.

106 Annual Report 2024

Tensions in the Middle East, which persisted until July 2024, Domestically, the government is promoting the energy
contributed to rising crude oil prices in international markets. transition by raising the biodiesel mandate from B35 to
This was further influenced by U.S. monetary policy, where B40. This aims to reduce dependence on fossil fuels
lower interest rates led to inflationary pressures, driving and curb crude oil imports, in line with efforts to enhance
up energy commodity prices. As a result, the price of national energy security. AKR is supporting this program
West Texas Intermediate (WTI) crude reached USD 80.54 by ensuring infrastructure readiness and a reliable supply
per barrel. However, from August to December 2024, chain for distributing biodiesel across various industrial and
crude oil prices began to decline, partly due to China’s transportation sectors.
economic slowdown, which reduced global oil demand.
With a strong logistics infrastructure, a diversified business
AKR sources fuel from international refineries and strategy, and active involvement in clean energy and industrial
traders based on market requirements while managing estate development, the Company is well-positioned amid
price risks. Instead of taking direct positions on global the challenges, with flexibility in adapting to market dynamics
oil prices, the company references the Mean of Platts and government policies that reinforce the Company’s role
Singapore (MOPS), helping mitigate the impact of as a leading player in Indonesia’s logistics and supply chain
price volatility caused by geopolitical conflicts, OPEC+ industry.
policies, and other market disruptions. This strategy
enables AKR to maintain stable fuel pricing for customers.

Operational
Review
Business Segments Served by the Company

To date, the Company and its Subsidiaries manage four (4) 3. Manufacturing
operating segments, including: The Company produces adhesive materials through its
1. Trading and Distribution Subsidiary, Aruki.
The Company distributes petroleum products and a 4. Industrial Estate
variety of basic chemicals, including caustic soda, sodium This segment falls under the Business Group led by BMKS,
sulphate, PVC resin, and soda ash. a Subsidiary indirectly owned through UEPN. The estate is
2. Logistics and Services part of the JIIPE project developed by AKR Corporindo and
The Company provides a range of logistics services such as Pelindo through their Subsidiaries, UEPN and BJTI.
tank and warehouse rental, packing services, loading and
unloading, and transportation services primarily for liquid
and solid chemical products in Indonesia, as well as fuel
products.

Annual Report 2024 107

 Management Discussion and Analysis

Number and Contribution of Operating Segments to Consolidated Sales and Revenue

In Billions of Rupiah

Increase
2024 2023
(Decrease)
Description
Contribution Contribution Contribution
Amount Amount Amount
(%) (%) (%)

Trading and Distribution 35,532 92% 38,213 91% (2,680) -7%

Logistics Services 1,165 3% 994 2% 171 17%
Manufacturing 652 2% 558 1% 94 17%
Industrial Estate 1,381 4% 2,323 6% (942) -41%
Total Consolidated Sales and
38,729 100% 42,087 100% (3,357) -8%
Revenue

The trading and distribution segment remained the The logistics services segment contributed 3% to total
Company’s main revenue pillar in 2024, contributing 92%, an revenue, up from 2% in 2023. This segment recorded solid
increase from 91% in 2023, influenced by the normalization of growth of 17%. Despite a decline in the overall volume of
average selling prices and macroeconomic conditions. Sales distributed products, the contribution from logistics services
volumes of petroleum and basic chemicals remained stable, increased significantly, driven by higher distribution volumes
reflecting the Company’s resilience. during certain periods and increased revenue from storage
services.
The industrial estate segment contributed 4% of total revenue,
down from 6% in 2023. Despite a 41% decrease, the segment Meanwhile, the manufacturing segment saw its contribution
continued to deliver positive contributions supported by increase from 1% to 2%, with a 17% revenue growth compared
sustainable estate management strategies. With strong to the previous year. This improvement reflects rising demand
prospects for land demand and proactive marketing efforts, for manufactured products.
the Company remains optimistic about this segment’s
future growth.

Performance of Business Segments

Trading and Distribution Petroleum (BBM)

This segment focuses on the sale and distribution of two AKR focuses on petroleum distribution rather than production
main products: Petroleum (BBM) and basic chemicals, activities, so no reportable data is available regarding
which are distributed to various industrial sectors, including production processes or capacity.
manufacturing, mining, energy, transportation, and others for
operational needs. Petroleum distribution is generally categorized as follows:
1. Non-subsidized biodiesel and other petroleum products
for industrial customers;
2. Subsidized biodiesel for retail customers with quotas
Revenue by Product within the Trading & allocated by the Downstream Oil and Gas Regulatory
Distribution Segment | In Billions of Rupiah Agency (BPH Migas);
3. Non-subsidized petroleum and non-petroleum services
for retail customers; and
44,698 4. Aviation petroleum.
36,327
38,212 In aligning with Indonesian petroleum distribution needs,
35,532 the Company has developed a solid business model with
31,869 efficient mechanisms to navigate economic and geopolitical
28,934 challenges. Fluctuations in global oil prices and currency
exchange rates are strategically managed to ensure they
can be adjusted and passed on to customers. The Company
applies a risk management system based on prudential
principles, including an effective net open position
8,371
6,344 6,598 management strategy to minimize the financial impact of
2022 2023 2024
market volatility.

Basic Chemical Petroleum

To ensure essential petroleum products are delivered
efficiently and on time to industrial customers across the
Indonesian archipelago, distribution is supported by a robust

108 Annual Report 2024

logistics network and an integrated supply chain, including
ports, storage terminals, and a modern transportation Petroleum Sales
in Billions of Rupiah
system. In addition, the use of information technology-based
monitoring enables more accurate and responsive distribution
management, enhancing the reliability of the Company’s 36.327
logistics system in meeting customer demands.
31.869
The use of clean energy-based petroleum through the B35
28.934
biodiesel program continues to be promoted to reduce
reliance on imported petroleum, increase the added value
of the agricultural sector, and support national economic
growth. In 2024, biodiesel production helped save USD9.33
billion or Rp147.5 trillion in foreign exchange and created
employment for more than 14,000 off-farm workers and 1.95
million on-farm workers.

AKR is mandated by the Ministry of Energy and Mineral 2022 2023 2024
Resources (ESDM) as an agent in the Assignment for the
Provision and Distribution of Certain Types of Petroleum
(P3JBT), while also supporting the government’s biodiesel In 2024, petroleum sales reached Rp28,934 billion, a decline
blending policy. This distribution process is supported by an of 9% from Rp31,869 billion in 2023 that was mainly due to
outlet network equipped with technology that enables real- reduced demand from the slowdown in operational activities
time monitoring of products from storage tanks or dispenser of key customers in the petroleum segment.
nozzles to customers. Additionally, digital monitoring systems
are applied to control and ensure that subsidized diesel is Basic Chemicals
distributed accurately, reaching target consumers efficiently
and transparently. Going forward, the mandatory biodiesel Company activity in this segment is limited to distribution;
program will continue to expand to B40 and beyond, therefore, with no available data regarding production
reflecting a commitment to optimizing the use of biodiesel processes or capacity. The Company is a primary distributor
with an increasingly higher blending ratio, supporting the for international basic chemical manufacturers in Indonesia,
transition to cleaner and more sustainable energy. ensuring a reliable supply for various industrial sectors. The
basic chemicals distributed are used as key raw materials
In developing the non-subsidized retail petroleum network, across industries, including nickel, textiles, chemicals, pulp
the Company has formed a Joint Venture (JV) with bp and paper, consumer goods, fertilizers, wood processing,
Global. As of December 31, 2024, the JV had opened 15 food, pharmaceuticals, alumina, and others.
new outlets, bringing the total to 61 service stations located
in Jabodetabek, Surabaya, Gresik, Malang, and toll road
rest areas. Basic Chemical Sales
in Billions of Rupiah
The Indonesian government continues to strengthen its
commitment to phasing out low-octane petroleum to achieve 8.371
its Net-Zero Emission target. This policy encourages a shift
among Indonesian consumers toward higher-specification
fuel products. In line with these market changes, AKR, through 6.598
the JV, offers high-quality petroleum to meet customer 6.344
needs. AKR’s retail outlets also deliver an enhanced customer
experience by offering various non-fuel services such as
beverages, mini-markets, and light vehicle maintenance
facilities, along with comfortable and adequate parking areas.

2022 2023 2024

Basic chemical sales in 2024 reached Rp6,598 billion, marking

a 4% increase from Rp6,344 billion in the previous year, and
primarily driven by increased demand for basic chemical
products.

Annual Report 2024 109

 Management Discussion and Analysis

Manufacturing
Logistics Services Segment Revenue
in Billions of Rupiah
The Company has one subsidiary operating in the
manufacturing segment, namely PT Arjuna Utama Kimia
63
(Aruki), a wood adhesive manufacturer based in Surabaya.
75
Aruki produces high-quality wood adhesives for the
wood and paper industries, with a production capacity of 289
58
280
100,000 MT. Aruki conducts operations with a focus on
environmental sustainability through the implementation of 813
261
the ISO 9001:2015 Quality Management System and the ISO
639
14001:2004 Environmental Management System.
575

Manufacturing Segment Revenue

in Billions of Rupiah 2022 2023 2024

800 Port Operations and Storage Services Others

Transportations

652 Revenue from the logistics segment reached Rp1,169 billion,

558
an increase of 19% compared to Rp994 billion in 2023, and
primarily driven by an increase in logistics and transportation
activity volume. To breakdown the segment, port operations
and transportation contributed Rp813 billion, storage services
Rp293 billion, while other services contributed Rp63 billion.
Overall, each segment recorded growth, except for other
services.

2022 2023 2024 JIIPE Industrial Estate

The JIIPE Special Economic Zone is an integrated industrial

Revenue from manufacturing in 2024 was Rp652 billion, an estate located in Gresik, East Java, developed to support
increase of 17% from Rp558 billion in 2023, driven by rising downstream industry growth and export-oriented
demand for adhesive products of ARUKI. manufacturing. A collaboration between PT AKR Corporindo
Tbk and PT Pelindo (Persero), JIIPE comprises an industrial
Logistics Services zone and deep seaport, as well as residential and commercial
areas. As a green industrial estate, it offers internationally
Providing services to third-party customers at major ports standardized utility facilities, including electricity, clean water,
across Indonesia, this segment includes tank rental for gas supply, and efficient logistics access through the seaport,
liquid bulk products such as Crude Palm Oil (CPO) and liquid and hosts the world's largest copper smelter, supporting the
chemicals, as well as warehouse rental for dry bulk products, development of value-added industries in Indonesia.
including dry chemicals, sugar, fertilizers, and animal feed.
These rental activities are conducted under long-term
contracts with customers. In addition, the Company offers Industrial Estate Revenue
port handling services, customs clearance, cargo/container in billions of Rupiah
unloading from ships using Harbor Mobile Cranes, storage
(warehousing), transportation using a fleet of trucks, and 2.323
bagging services at ports in Medan, Surabaya, Semarang, and
Jakarta (Ciwandan and Tanjung Priok).
1.450 1.381
An AKR subsidiary, PT Jakarta Tank Terminal (JTT), provides
fuel tank terminal rental services with a storage capacity of
350,000 cbm in Tanjung Priok, one of the largest private
tank terminals in Indonesia, equipped with a jetty and subsea
pipelines.

Logistics Infrastructure Capacity

2022 2023 2024
This information is presented in the Logistics Infrastructure
Network section of the Introduction in this Annual Report.

110 Annual Report 2024

JIIPE revenue in 2024 amounted to Rp1,381 billion, a 41% Located approximately 24 km from Surabaya, the area
decline compared to Rp2,323 billion in 2023, with the enjoys a strategic geo-economic advantage to support
following breakdown: industrial activities, export-import operations, and other
1. Industrial land sales: Rp877 billion highly competitive economic functions. The international-
2. Industrial land lease revenue: Rp181 billion standard facilities and infrastructure offered by JIIPE enable
3. Utility services (recurring income): Rp318 billion optimal logistics efficiency, with strong connectivity between
domestic and international markets.
Spanning 3,000 hectares, JIIPE encompasses an industrial
zone with a logistics center and bonded facilities. The estate is
connected to a multipurpose seaport, facilitating inter-island
and international trade, and is supported by a commercial
center and residential area, positioning it as a leading strategic
industrial hub in Indonesia and the Asia-Pacific region.

Easy Access Creates Low Logistic Costs

JIIPE enjoys strategic location at the mouth

of the Madura Strait, the channel that
connects Surabaya to Java sea. IPF port
will be the deepest port in East Java with
depth of -16 LWS, provides 4 piers with
total berthing area of 6,200 m, JIIPE port
is able to cater large bulk carriers up to
100,000 DWT. By having the multimodal
connectivity, JIIPE ensures the best supply
chain flow at the most competitive costs.

Through Government Regulation (PP) No. 71 of 2021 dated JIIPE’s designation as an SEZ positions it as a competitive
June 28, 2021, signed by the President of the Republic of industrial area capable of meeting industrial needs while
Indonesia, JIIPE was designated as a Special Economic Zone supporting the government’s goal of reducing logistics and
(SEZ) for Technology & Manufacturing and officially named operational costs. As part of a National Strategic Project
KEK JIIPE Gresik. Subsequently, on November 20, 2022, KEK (PSN), KEK JIIPE benefits from a strategic location, adequate
JIIPE officially received its operational certificate based on infrastructure, and regulatory support, enabling it to act
the Decree of the Chairperson of the National Council for as a catalyst for national economic growth and enhance
Special Economic Zones (KEK) No. 1 of 2022 concerning Indonesia’s appeal as an investment destination.
the Operational Establishment of KEK Gresik, endorsed by
Coordinating Minister for Economic Affairs Airlangga Hartarto
in his capacity as Chairman of the National Council.

With the issuance of the operational certificate, KEK JIIPE

gained access to a range of facilities and incentives, including
a dedicated SEZ administrative office and streamlined one-
stop licensing services. In addition, KEK JIIPE is entitled to fiscal
incentives such as income tax and customs duty reductions,
as well as non-fiscal incentives, including facilitated goods
movement and flexibility in workforce management.

Annual Report 2024 111

 Management Discussion and Analysis

Tenants Operating in the JIIPE Industrial Estate

Freeport Cooper Smelter

Xinyi Glass Factory Xinyi solar Indonesia Hailiang Nova Material
& PMR

Nippon Sari Roti

AKR Corp-Tank Storage Unichem Salt Factory Clariant Specialty Chemical
Bread Factory

Cahaya Maju Lestari Bank Indonesia Cash

Fertilizer Inti Tech Fertilizer Adhimix Precast
Castor Oil Depot & Data Centre

Hebang Biotechnology
Other tentant: Indonesia
Aneka Tambang

Rodamas Sumberbaja Sejati Light Steel Manufacturer

Pangansari Utama-Food BJTI-Port Services Tirtamas-Warehouse

Waskita Beton-Precast

JIIPE provides cluster-based zoning tailored to tenants’ Utilities

operational activities, in accordance with Government JIIPE provides international-standard utility facilities to
Regulation No. 7/2021 designating JIIPE as a Special Economic support the needs of industries operating within the estate.
Zone. As of December 31, 2024, a total of 21 tenant projects This infrastructure is designed to ensure operational
were operating within JIIPE. efficiency, sustainability, and competitiveness for business
operators. The available facilities include power generation,
One of the ongoing developments is a natural gas project clean water supply, wastewater treatment, gas pipeline
designed to supply gas to tenants within the estate. Any connections, and a telecommunications system supported by
excess capacity from this project has the potential to be a fiber optic network.
distributed through the gas pipeline network in East Java. The
project is a collaboration between the Company and bp GAS 1. Power Generation
& Power Investments Limited, and it is expected to be fully JIIPE holds a license to generate and distribute up to 515
operational by 2028, coinciding with the launch of several MW of electricity directly to tenants. As of 2024, JIIPE
gas-intensive projects in JIIPE. operates a 23 MW gas-fired power plant and has access
to a gas pipeline network supplied by Perusahaan Gas
With its strong connectivity and competitive advantages, Negara, which delivers natural gas into the area. Through
KEK JIIPE has successfully attracted numerous investors from the installation of rooftop solar panels (PLTS Atap) in the
both domestic and international markets. In 2024, JIIPE sold industrial estate, JIIPE saves approximately 483,917 kWh
38 hectares of land, bringing the cumulative total of sold and of energy annually and reduces CO₂ emissions by 451,978
leased land to 384 hectares. kg—equivalent to planting 5,671 trees over ten years or the
annual use of 126,236 liters of gasoline.

112 Annual Report 2024

2. Water Management 4. Internet & Communication
The water system in JIIPE uses a Sea Water Reverse Osmosis In collaboration with Indonesian telecommunications
(SWRO) desalination system with a capacity of 2,400 m³/ providers, the Company provides a fiber optic-based
day. This system is designed to meet the industrial water broadband internet and telecommunications network
supply needs within the estate. throughout JIIPE. To ensure safety, the estate is supported
by a dedicated fire brigade team on standby 24 hours a
3. Wastewater Treatment day, seven days a week.
In 2024, wastewater in JIIPE is treated through a wastewater
treatment facility with a capacity of 2,500 m³/day. This
facility uses Membrane Bio Reactor (MBR) technology to
ensure that treated wastewater meets safety and quality
standards in accordance with government regulations
while using minimal land area.

The wastewater is then further processed through Ultra

Filtration and Reverse Osmosis units to produce clean
water for tenants, helping to minimize the extraction of
natural resources.

Gas Powered Power Plant with Water Treatment & Waste Water
Rooftop Solar Panel Treatment Plant

JIIPE’s Unique Connectivity Modes services include multi-service port and logistics operations
The connectivity model is adapted to Indonesia’s geography for transport, containers, vehicles, general cargo, container
as an archipelagic country with JIIPE integrated with sea, yards, multipurpose use, fisheries industry, liquid and bulk
land, and air transportation routes. The port is managed by cargo, bonded logistics centers, and offshore maintenance.
PT Berlian Manyar Sejahtera (BMS), which holds a concession
from the Ministry of Transportation to operate port services
at the Manyar Terminal, Gresik Port, East Java, until 2094, and

Profitability of Each Business Pillar

in Billion Rupiah

Trading and Distribution

Growth
Description 2024 2023 Percentage (%)
(Decline)

Sales and Revenue 35.532 38.213 (2.680) -7%

Cost of Sales and Revenue 32.903 34.935 (2.031) -6%
Gross Profit 2.629 3.278 (649) -20%
Gross Profit Margin 7,4% 8,6% -1,2%

Annual Report 2024 113

 Management Discussion and Analysis

In 2024, the Company recorded gross profit from the trading and distribution segment of Rp2,629 billion, a decrease of R649
billion or 20% from Rp3,278 billion in 2023. The gross profit margin normalized to 7.4% in 2024, closely aligned with the margin
recorded in 2022.

in Billion Rupiah

Manufacturing

Growth
Description 2024 2023 Percentage (%)
(Decline)

Sales and Revenue 652 558 94 17%

Cost of Sales and Revenue 356 323 33 10%
Gross Profit 296 234 62 26%
Gross Profit Margin 45,4% 42,0% 3,4%

By the end of 2024, the Company posted gross profit from the manufacturing segment of Rp296 billion, an increase of Rp62
billion or 26% compared to the previous year. This segment also recorded a gross profit margin increase to 45.4%, up from 42% in
2023, in line with revenue growth and operational efficiency improvements.

in Billion Rupiah

Logistics

Growth
Description 2024 2023 Percentage (%)
(Decline)

Sales and Revenue 1,165 994 171 17%

Cost of Sales and Revenue (Excluding
931 798 133 17%
Depreciation)
Gross Profit (Excluding Depreciation) 234 195 39 20%
Gross Profit Margin (Excluding Depreciation) 20% 19.7% 0.4%

In the logistics segment, gross profit excluding depreciation in 2024 was Rp234 billion, an increase of Rp39 billion or 20%
compared to Rp195 billion in the previous year. The growth was primarily driven by the increased volume of logistics and
transportation activities, as well as the Company’s operational efficiency.

in Billion Rupiah

Industrial Estate

Growth
Description 2024 2023 Percentage (%)
(Decline)

Sales and Revenue 1,381 2.323 (943) -41%

Cost of Sales and Revenue 783 1.341 (558) -42%
Gross Profit 597 981 (384) -39%
Gross Profit Margin 43,3% 42,3% 1%

For the industrial estate segment, AKR recorded a gross profit of Rp597 billion in 2024. Despite a decline of Rp384 billion or 39%
from Rp981 billion in 2023, the segment contributed positively driven by sustainable strategies.

114 Annual Report 2024

Financial
Review
The discussion of financial performance in the Management The Audited Financial Statements were prepared in
Analysis and Discussion section refers to financial data from accordance with the Indonesian Financial Accounting
the Audited Financial Statements of PT AKR Corporindo Tbk Standards (SAK), which comprise the Statements of Financial
for the years ended December 31, 2023 and 2024. These Accounting Standards (PSAK) and the Interpretations of
were audited by the Public Accounting Firm Purwantono, Financial Accounting Standards (ISAK) issued by the Financial
Sungkoro & Surja (a member firm of Ernst & Young Global Accounting Standards Board of the Indonesian Institute of
Limited), as stated in their report dated March 18, 2024, with an Accountants.
“unqualified opinion.”

Consolidated Statement of Financial Position

AKR recorded a net profit of Rp2,225 billion for the year ended Assets
December 31, 2024, compared to Rp2,780 billion in the
previous year. During the past 5 (five) years, the Company has AKR’s total assets were recorded at Rp33,109 billion, an
recorded a CAGR of 25%. increase of Rp2,812 billion or 9% compared to Rp30,297
billion in 2023. This growth was primarily driven by an increase
in current assets due to higher industrial estate land inventory
in anticipation of land sales in 2025.

Total Asset
in Billion Rupiah

33,109
30,297
12,111
27,188 12,134

11,346
20,998
18,163

15,841

2022 2023 2024

Current Asset Non Current Asset

Annual Report 2024 115

 Management Discussion and Analysis

Current Assets
in Billion Rupiah

2024 2023
Growth Percentage
Current Assets Contribution Contribution
Amount Amount (Decline) (%)
(%) (%)

Cash and Cash Equivalents 5,366 26% 6,536 36% (1,170) -18%
Trade Receivables 7,563 36% 6,403 35% 1,160 18%
Other Receivables 44 0% 56 0% (12) -22%
Inventories 3,463 16% 3,134 17% 329 11%
Industrial Estate Land
3,757 18% 1,621 9% 2,136 132%
Inventory under Development
Prepaid Taxes 147 1% 90 0% 57 63%
Prepaid Expenses 82 0% 74 0% 8 11%
Advances 147 1% 85 0% 62 73%
Other Current Assets 428 2% 164 0% 264 161%
Total Current Assets 20,998 100% 18,163 100% 2,835 16%

Total current assets in 2024 were Rp20,998 billion, an increase of Rp2,835 billion or 16% compared to Rp18,163 billion in the
previous year and mainly driven by the rise in industrial estate land inventory under development and trade receivables.

Cash and Cash Equivalents

in Billion Rupiah

2024 2023
Growth Percentage
Current Assets Contribution Contribution
Amount Amount (Decline) (%)
(%) (%)

Cash 17 0% 27 0% 9 37%
Banks – Third Parties
Rupiah 2.254 42% 3.274 52% (1.020) -31%
American Dollar 2.621 49% 2,972 48% (351) -12%
Others 2 0% 1 0% 1 38%
Total Cash in Banks 4,877 91% 6,247 91% (1,370) -22%
Time Deposits – Third Parties
Rupiah 416 8% 262 4% 154 59%
American Dollar 56 1% 0 0% 56 17929%
Total Time Deposits 472 9% 262 4% 210 80%
Total Cash and Cash
5,366 100% 6,536 100% (1,170) -18%
Equivalents

Total cash and cash equivalents were Rp5,366 billion in 2024, a decrease of Rp1,170 billion or 18% compared to Rp6,536 billion in
2023. The total cash and cash equivalents comprised Rp4,877 billion in cash in banks and Rp472 billion in time deposits.

116 Annual Report 2024

Trade Receivables
in Billion Rupiah

2024 2023
Pertumbuhan Persentase
Trade Receivables Contribution Contribution
Amount Amount (Penurunan) (%)
(%) (%)

Not Yet Due 6,903 88% 6,202 91% 701 11%

Due:
1 - 30 days 372 5% 147 2% 225 153%
31 - 60 days 132 2% 63 1% 69 110%
> 60 days 581 7% 501 7% 80 16%
Sub Total 7,988 102% 6,913 102% 1,075 16%
WAPU PPN 47 1% 63 1% (16) -25%
Dikurangi:
Allowance for Expected
(99) -1% (94) -1% 5 5%
Credit Losses
Fair Value Adjustment (68) -1% (90) -1% (22) -24%
Net Trade Receivables 7,868 100% 6,791 100% 1,077 16%

Receivables Period
(days)

69 67
55
53
51

2020 2021 2022 2023 2024

Note: DSO is calculated based on quarterly average of receivable and average sales

The average collection period for trade receivables increased As of December 31, 2024, total trade receivables amounted to
to 67 days in 2024, compared to 55 days in 2023. An amount Rp7,868 billion, an increase of Rp1,077 billion or 16% compared
of Rp6,903 billion, or 88% of total net trade receivables, was to Rp6,791 billion in 2023, primarily due to higher sales and
not yet due. Management applies a prudent approach in changes in credit policy.
managing receivables. Cumulatively, the Company recorded
an allowance for impairment losses of Rp99 billion and a fair
value adjustment of Rp68 billion on trade receivables.

Annual Report 2024 117

 Management Discussion and Analysis

Inventory Period
(days)

The inventory period as of 31st December 2024

increased slightly to 24th days from 21st days
in 2023. Management remains committed to
improving efficiency in inventory management and
24 24 accelerating inventory turnover.
21
19
18

2020 2021 2022 2023 2024

Non-Current Assets
in Billion Rupiah

2024 2023
Growth Percentage
Non-Current Assets Contribution Contribution
Amount Amount (Decline) (%)
(%) (%)

Long-Term Trade Receivables

304 3% 387 3% (83) -21%
from Third Parties – Net
Investments in Associates 492 4% 446 4% 46 10%
Deferred Tax Assets 188 2% 201 2% (13) -6%
Investment Properties 1.817 15% 1.817 15% 0 0%
Fixed Assets 6,365 53% 5,466 45% 899 16%
Right-of-Use Assets – Net 793 7% 618 5% 175 28%
Estimated Claims for Income
16 0% 16 0% 0 0%
Tax Refunds
Industrial Estate Land
1,983 16% 3,026 25% (1,043) -34%
Inventory under Development
Advances 27 0% 43 0% (16) -37%
Other Non-Current Financial
75 1% 67 1% 8 12%
Assets
Other Non-Current Assets 50 0% 46 0% 4 9%
Total Non-Current Assets 12,111 100% 12,134 100% (23) -0%

Non-current assets decreased by Rp23 billion or 0.2%, from Rp12,134 billion in 2023 to Rp12,111 billion in 2024 due to a reduction in
industrial estate land inventory under development and long-term trade receivables.

Fixed Assets
in Billion Rupiah

2024 2023
Growth Percentage
Fixed Assets Contribution Contribution
Amount Amount (Decline) (%)
(%) (%)

Land Rights 689 11% 689 13% 0 0%

Buildings, Jetties,
Warehouses, and Storage 5,251 82% 4.849 89% 402 8%
Tanks

118 Annual Report 2024

 2024 2023
Growth Percentage
Fixed Assets Contribution Contribution
Amount Amount (Decline) (%)
(%) (%)

Machinery and Equipment 1,219 19% 1.016 19% 203 20%

Warehouse Equipment and
628 10% 599 18% 29 5%
Port Unloading Equipment
Vehicles 469 7% 423 8% 46 11%
Leased Building
97 2% 96 2% 1 1%
Improvements
Building Renovations 611 10% 585 11% 26 4%
Office Equipment 170 3% 168 3% 2 1%
Vessels 957 15% 775 14% 182 24%
Assets Under Construction 838 13% 432 8% 406 94%
Accumulated Depreciation (4,564) -72% (4.166) -76% (398) 10%
Total Fixed Assets 6,365 100% 5.466 100% 899 16%

Fixed assets were Rp6,365 billion in 2024, increasing by Rp899 Liabilities

billion or 16% from Rp5,466 billion in the previous year, and
primarily driven by the construction of terminal facilities and Total liabilities rose by Rp2,231 billion or 14% from Rp16,254
public refueling stations (SPBU), as well as the acquisition of billion in 2023 to Rp18,485 billion in 2024, mainly due to higher
tank truck fleets and vessels. trade payables and the development of JIIPE.

Industrial Estate Land Inventory in Current Assets

As of December 31, 2024, the industrial estate land inventory
available for sale was recorded at Rp3,757 billion, an increase
of Rp2,136 billion or 132% compared to Rp1,621 billion in
2023. This growth was primarily driven by the management’s
strategy to attract potential investors and anticipate large-
scale direct land purchases.

Total Liabilities
In Billions of Rupiah

18,485
16,254
14,033 13,454
12,575
11,280

5,030
3,678
2,752

2022 2023 2024

Non-Current Liabilities Current Liabilities

Annual Report 2024 119

 Management Discussion and Analysis

Current Liabilities
in Billion Rupiah

2024 2023
Growth Percentage
Current Liabilities Contribution Contribution
Amount Amount (Decline) (%)
(%) (%)

Short-Term Bank Loans and

7 0% 5 0% 2 40%
Others
Trade Payables – Third Parties 10,392 77% 9,519 76% 873 9%
Other Payables – Third Parties 464 3% 350 3% 114 33%
Taxes Payable 403 3% 492 4% (89) -18%
Accrued Expenses 586 4% 572 5% 14 2%
Short-Term Employee
144 1% 188 1% (44) -23%
Benefits Liabilities
Short-Term Lease Liabilities 45 0% 43 0% 2 5%
Short-Term Contract
272 2% 225 2% 47 21%
Liabilities
Current Maturities of Long-
1,141 8% 1,089 9% 52 5%
Term Bank Loans and Others
Current Maturities of Bonds
0 0% 37 0% (37) -100%
Payable
Dividends Payable 1 0% 56 0% (55) -98%
Total Current Liabilities 13,454 100% 12,575 100% 879 7%

The Company recorded current liabilities of Rp13,454 billion in 2024, an increase of Rp879 billion or 7% compared to Rp12,575
billion in the previous year. This increase was primarily driven by higher trade payables and other payables to third parties.

Trade Payables Period

(days)

86
82
88
81
73

2020 2021 2022 2023 2024

Trade payables in 2024 were Rp10,801 billion, increasing by Rp932 billion or 9% compared to Rp9,869 billion in the previous year.
In addition, the payables period increased to 88 days.

120 Annual Report 2024

Non-Current Liabilities
in Billion Rupiah

2024 2023
Growth Percentage
Non-Current Liabilities Contribution Contribution
Amount Amount (Decline) (%)
(%) (%)

Deferred Tax Liabilities – Net 26 1% 18 0 8 44%

Long-Term Bank Loans and
3,645 72% 3,117 85% 528 17%
Others
Post-Employment Benefits
179 3% 177 5% 2 1%
Liabilities
Long-Term Contract
631 12% 19 1% 612 3221%
Liabilities
Long-Term Lease Liabilities 479 9% 337 9% 142 42%
Other Non-Current Liabilities 54 1% 0 0% 54 n.m
Total Non-Current Liabilities 16 0% 9 0% 7 78%
Jumlah Liabilitas Jangka
5,030 100% 3,678 100% 1,352 37%
Panjang

Long-Term Bank Loans and Others

As of 31 December 2024, long-term bank loans and other borrowings stood at Rp3,645 billion, an increase of Rp528 billion or 17%
from Rp3,117 billion in the previous year. This increase was attributable to funding for the development of the JIIPE SEZ in Gresik.

Equity
in Billion Rupiah

Equity 2024 2023 Growth (Decline) Percentage (%)

Share Capital 401 401 0 0%

Additional Paid-In Capital 1,301 1,287 14 1%
Treasury Shares – 320,655,000 Shares (113) (118) 5 4%
Retained Earnings
Appropriated 4 4 0 0%
Unappropriated 9,647 9,393 254 3%
Exchange Differences from Financial
252 226 26 12%
Statement Translation
Share in Other Changes in Subsidiaries'
69 69 0 0%
Equity
Total Equity Attributable to Owners of
11,562 11,263 299 3%
the Parent Entity
Non-Controlling Interests 3.061 2.780 282 10%
Total Equity 14,624 14,043 581 4%

As of December 31, 2024, the Company recorded equity of Rp14,624 billion, an increase of Rp581 billion or 4% compared to
Rp14,043 billion in the previous year. This increase was primarily driven by the rise in unappropriated retained earnings.

Annual Report 2024 121

 Management Discussion and Analysis

Statement of Profit or Loss and Other Comprehensive Income

Growth
Statement of Profit and Loss 2024 2023 Percentage (%)
(Decline)

Sales and Revenue 38,729 42,087 (3,358) -8%

Cost of Sales and Revenue (35,220) (37,613) (2,393) -6%
Gross Profit 3,509 4,473 (964) -22%
Operating Expenses (975) (975) 0 0%
General and Administrative Expenses (873) (878) (5) -1%
Marketing Expenses (101) (97) 4 4%
Other Operating Income (Expenses)
Gains (Losses) on Disposal and Write-Off of
4 15 (11) -75%
Fixed Assets – Net
Gains (Losses) on Foreign Exchange – Net 14 6 8 133%
Other Operating Income/Expenses 39 49 (10) -20%
Other Operating Expenses (12) (8) 4 50%
Operating Profit 2,578 3,561 (983) -28%
Finance Income 353 197 156 79%
Final Tax on Financial Income (54) (36) (18) 50%
Finance Costs (85) (68) 25 17%
Share of Profit from Associates 47 35 11 35%
Profit Before Tax 2,839 3,687 (848) -23%
Income Tax Expenses – Net (27) (20) 7 35%
Profit for the Year (413) (589) 176 -30%
Exchange Differences from Financial Statement
2,399 3,078 (679) 22%
Translation
Actuarial Gains (Losses) on Post-Employment
50 (20) 69 -
Benefits
Related Deferred Tax 4 (12) 16 -
Other Comprehensive Income (Loss) for the
(1) 1 (2) -
Year After Tax
Total Comprehensive Income for the Year 53 (30) 83 -
Jumlah Penghasilan Komprehensif Tahun
2,452 3,048 (596) -20%
Berjalan
Profit for the Year Attributable To:
Owners of the Parent Entity 2,225 2,780 (555) -20%
Non-Controlling Interests 174 298 (124) -42%
Profit for the Year 2,399 3,078 (679) -22%
Total Comprehensive Income for the Year Attributable To:
Owners of the Parent Entity 2,254 2,761 (507) -18%
Non-Controlling Interests 199 287 (88) -31%
Total Comprehensive Income for the Year 2,452 3,048 (596) -20%
Earnings Per Share (In Full Rupiah) 112.7 140.9 (28.2) -20%

As of December 31, 2024, AKR recorded a gross profit of reduction in revenue. The total net profit for the year in 2024
Rp3,509 billion, a decrease of 22% compared to Rp4,473 was Rp2,225 billion, a decrease of 20% compared to Rp2,780
billion in the previous year, a decline primarily due to a billion in 2023.

122 Annual Report 2024

Sales and Revenue
in Billion Rupiah

2024 2023
Growth Percentage
Sales and Revenue Contribution Contribution
Amount Amount (Decline) (%)
(%) (%)

Petroleum (BBM) 28,934 75% 31,869 76% (2,935) -9%

Basic Chemicals 6,598 17% 6,344 15% 254 4%
Sub-Total 35,532 92% 38,213 91% (2,681) -7%
Manufacturing
Manufacturing - Third Party
652 2% 558 1% 94 17%
Adhesives
Sub-Total 652 2% 558 1% 94 17%
Other Products
Logistics Services
Port Operations and
813 2% 639 2% 174 27%
Transportation
Tank Storage Rental 289 1% 280 1% 13 3%
Others 59 0% 75 0% (16) 21%
Sub-Total 1,165 3% 994 2% 171 17%
Industrial Estate 1,381 4% 2,323 6% (942) -41%
Total Sales and Revenue 38,729 100% 42,087 100% (3,358) -8%

In 2024, the Company's revenue was recorded at Rp38,729 An analysis of sales and revenue for each business segment
billion, a decrease of Rp3,358 billion or 8% compared to is presented in the Operational Review section of this Annual
Rp42,087 billion in the previous year. This was primarily due Report.
to the decreased performance of the trading and distribution
segment and industrial estate.

Cost of Sales and Revenue

in Billion Rupiah

2024 2023
Growth Percentage
Cost of Sales and Revenue Contribution Contribution
Amount Amount (Decline) (%)
(%) (%)

Trading and Distribution 32,903 93% 34,935 93% (2,032) 6%

Manufacturing 356 1% 323 1% 33 10%
Logistic Services 1,178 3% 1,014 3% 164 16%
Industrial Estate 783 2% 1,341 4% (558) -42%
Total Cost of Sakes and
35,220 100% 37,613 100% (2,393) -6%
Reveneue

Cost of revenue in 2024 was Rp35,220 billion, decreasing by Rp2,393 billion or 6% compared to Rp37,613 billion in 2023. This was
primarily driven by lower purchase prices of petroleum and basic chemicals, as well as reduced land sales in the industrial estate
segment.

Annual Report 2024 123

 Management Discussion and Analysis

Gross Profit
In Billions of Rupiah

2024 2023
Growth Percentage
Gross Profit Contribution Contribution
Amount Amount (Decline) (%)
(%) (%)

Trading and Distribution 2,629 75% 3,278 73% (649) -20%

Manufacturing 296 8% 234 5% 62 26%
Logistics Services (13) 0% (20) 0% 7 35%
Industrial Estate Land 597 17% 981 22% (384) -39%
Total Gross Profit 3,509 100% 4,473 100% (964) -22%

The Company recorded a gross profit of Rp3,509 billion in 2024, decreasing by Rp964 billion or 22% compared to the previous
year’s Rp4,473 billion. This adjustment reflects the Company's strategic response to reduced customer activity, implemented to
maintain optimal sales levels, and a decrease in land sales compared to the previous year.

Operating Expenses
In Billions of Rupiah

2024 2023
Growth Percentage
Operating Expenses Contribution Contribution
Amount Amount (Decline) (%)
(%) (%)

General and Administrative Expenses

Salaries, Wages, and
593 61% 561 58% 32 6%
Employee Benefits
Allowance for Impairment
Losses on Trade 7 1% 67 7% (60) 90%
Receivables
Business Travel and
40 4% 38 4% 2 5%
Transportation
Office Expenses 54 5% 42 4% 12 29%
Depreciation 41 4% 38 4% 3 8%
Depreciation and
Amortization of Right-of- 3 0% 3 0% 0 0%
Use Assets
Infrastructure and
12 1% 14 2% (2) -14%
Telecommunications
Professional Fees 40 4% 41 4% (1) -2%
Office Rent 8 1% 9 1% (1) -11%
Repairs and Maintenance 9 1% 9 1% 0 0%
Taxes and Licenses 19 2% 15 1% 4 27%
Bank and Administrative
2 0% 5 1% (3) -60%
Fees
Insurance 5 0% 4 1% 1 25%
Office Supplies 3 0% 3 0% 0 0%
Shipping 1 0% 1 0% 0 0%
Others 37 4% 28 7% 9 32%
Sub-Total 873 89% 878 90% (5) -1%
Marketing Expenses
Transportation 18 2% 14 1% 4 29%
Entertainment 4 0% 4 0% 0 0%

124 Annual Report 2024

 2024 2023
Growth Percentage
Operating Expenses Contribution Contribution
Amount Amount (Decline) (%)
(%) (%)

Depreciation 1 0% 1 0% 0 0%
Advertising and Promotion 18 6% 24 2% (6) -25%
Others 60 6% 54 5% 6 11%
Sub-Total 101 11% 97 10% 4 4%
Total Operating Expenses 975 100% 975 100% 0 0%

Foreign Exchange Gains (Losses) Income Tax Benefit (Expense)

As of December 31, 2024, the Company recorded a foreign Net and final tax expenses in 2024 amounted to Rp439 billion,
exchange gain of Rp14 billion, an increase of Rp8 billion or a decrease of Rp170 billion or 28% compared to Rp609
133% from a loss of Rp6 billion in 2023. This was primarily due billion in 2023. This decline was primarily due to a decrease in
to fluctuations in foreign exchange rates. profit before tax and the effectiveness of the Company's tax
management.
Finance Income (Expense)
AKR recorded an increase in financial expenses in 2024 by
Rp16 billion or 24% compared to 2023, rising from Rp68 billion
to Rp85 billion in 2024. This increase was primarily due to the
rise in long-term bank loans.

Other Comprehensive Income

In Billions of Rupiah

2024 2023
Other Comprehensive Growth Percentage
Income Contribution Contribution (Decline) (%)
Amount Amount
(%) (%)

Exchange Differences
from Financial Statement 50 94% (20) 65% 70 n.m
Translation
Actuarial Gains (Losses) on
4 8% (12) 39% 16 n.m
Post-Employment Benefits
Related Deferred Tax (1) -2% 1 -4% (2) n.m
Other Comprehensive
Income (Loss) for the Year 53 100% (30) 100% 83 n.m
After Tax

The Company recorded other comprehensive income to be reclassified in future years amounting to Rp53 billion in 2024,
compared to the previous year, which recorded a loss of Rp30 billion.

Total Comprehensive Income for the Year

In Billions of Rupiah

2024 2023
Total Comprehensive Growth Percentage
Income for the Year Contribution Contribution (Decline) (%)
Amount Amount
(%) (%)

Profit for the Year 2.399 98% 3.078 101% (679) -22%
Other Comprehensive
Income (Loss) for the Year 53 2% (30) -1% 83 n.m
After Tax
Total Comprehensive Income
2.452 100% 3.048 100% (596) -20%
for the Year

Annual Report 2024 125

 Management Discussion and Analysis

In 2024, the Company recorded comprehensive income for Profit for the Year Attributable to Owners of the
the year of Rp2,452 billion, a decrease of Rp596 billion or 20% Parent Entity
compared to Rp3,048 billion in 2023. However, the Company The profit for the year attributable to the owners of the parent
recorded a higher gain from foreign exchange differences. entity in 2024 was Rp2,225 billion, with a net profit margin of
5.7%.

Consolidated Statement of Cash Flows

In Billions of Rupiah

Statement of Cash Flows 2024 2023 Growth (Decline) Percentage (%)

Net Cash Provided by (Used in) Operating

1,347 3,502 (2,155) -62%
Activities
Net Cash Provided by (Used in) Investing
(1,173) (584) 589 101%
Activities
Net Cash Provided by (Used in) Financing
(1,470) (648) 822 127%
Activities
Net Decrease in Cash and Cash
(1,296) 2,270 (3,566) -157%
Equivalents
Effect of Exchange Rate Changes 127 (72) 199 276%
Cash and Cash Equivalents at the
6,536 4,338 2,198 51%
Beginning of the Year
Cash and Cash Equivalents at the End of
5,366 6,536 (1,170) -18%
the Year

Cash and Cash Equivalents Cash Flow from Investing Activities

By the end of 2024, cash and cash equivalents stood at Net cash used in investing activities in 2024 totaled Rp1,173
Rp5,366 billion, down Rp1,170 billion or 18% from Rp6,535 billion, up Rp589 billion or 101% from Rp584 billion in 2023,
billion in 2023 and mainly due to lower operating cash flows as reflecting the Company’s commitment to strengthening
a result of reduced cash receipts from customers, increased infrastructure through the acquisition of fixed assets, including
investment activities in infrastructure, and additional long- buildings, piers, warehouses, and storage tanks, and acquired
term borrowings. additional vessels in support of sustainable business growth.

Cash Flow from Operating Activities Cash Flow from Financing Activities
Net cash provided by operating activities in 2024 amounted Net cash used in financing activities in 2024 amounted to
to Rp1,347 billion, a decrease of Rp2,155 billion or 62% Rp1,470 billion, an increase of Rp822 billion or 127% compared
compared to Rp3,502 billion in 2023. This decline was mainly to Rp648 billion in the previous year. This was primarily due to
due to lower cash receipts from customers. higher payments long-term debt compared to the previous
year, including repayment of bond.

126 Annual Report 2024

Debt Service
Capacity
AKR’s ability to meet its financial obligations is measured Additionally, risk mitigation strategies are applied through
through the net gearing ratio, the liability-to-total-assets prudent cash management, cost efficiency, and diversification
ratio, and the EBITDA-to-interest-bearing debt ratio. To of funding sources to ensure liquidity is maintained and to
maintain financial stability, the Company actively monitors and support sustainable business growth.
evaluates its financial performance and optimizes its capital
structure.

Net Gearing Ratio

The net gearing ratio reflects the Company’s equity capacity Currently, the Company is in a net cash position and has
to pay off debts without considering cash, which in 2024 successfully maintained an idAA rating with a stable outlook
reached a negative figure. The stability of the liability ratio year from the leading rating agency, PEFINDO Indonesia. This
on year indicates a solid financial condition. rating reflects the Company’s strength in its extensive
logistics infrastructure network, solid financial profile, and the
high demand for petroleum and basic chemicals.

Net Gearing Ratio

(x)

0.25 0.22

0.20

0.15

0.10

0.05 0.01

- (0.04)
2020 2021 2022 2023 2024
(0.05)
(0.12)
(0.10)
(0.16)
(0.15)

(0.20)

Liability-to-Total-Assets Ratio

By the end of 2024, liabilities financed approximately 55.8% of the Company's assets, an increase of 2.2% compared to the
previous year. The consistency of the liability ratio reflects prudent financial management. With adequate assets to meet all
obligations, the Company continues to maintain a healthy and resilient financial structure.

EBITDA-to-Interest-Bearing Debt Ratio

AKR recorded an EBITDA-to-interest-bearing debt ratio of 0.65 times in 2024, lower compared to 0.86 times in 2023. Supported
by strong equity, prudent financial management, and positive revenue projections, the Company continues to enhance its ability
to meet financial obligations and maintain a stable capital structure.

Annual Report 2024 127

 Management Discussion and Analysis

Capital Structure and

Capital Structure Policy
Details of Capital Structure

AKR is committed to managing a healthy capital structure As of December 31, 2024, the Company recorded equity
to support sustainable growth and stable operations. The contributions to the capital structure amounting to Rp14,624
Company's capital structure consists of a combination of billion, an increase of 74%. The total long-term funding
long-term liabilities and equity, which is optimally managed to sources in 2024 amounted to Rp19,654 billion, an increase of
maintain a balance between risk and profitability. Rp1,933 billion or 11% compared to Rp17,721 billion in 2023.

In Billions of Rupiah

2024 2023
Growth Percentage
Capital Structure Contribution Contribution
Amount Amount (Decline) (%)
(%) (%)

Long-Term Liabilities 5,030 26% 3,678 21% 1,352 37%

Equity 14,624 74% 14,043 79% 581 4%
Total Long-Term Funding
19,654 100% 17,721 100% 1,933 11%
Sources

Management Policy on Capital Structure

The Company regularly manages its capital structure to ensure In financing capital expenditures and new projects, the
business continuity and optimize value for shareholders and Company prioritizes the use of internal cash and considers
other stakeholders to maintain a balance between profitability long-term debt financing or bond issuance if necessary.
and financial risk while efficiently reducing capital costs. Additionally, the Company is committed to maintaining a
healthy Return on Equity (ROE) ratio to ensure sustainable
growth and create value for shareholders.

The Basis for Choosing Management's Capital Structure Policy

AKR’s capital structure policy is based on a comprehensive In addition to maintaining financial balance, this policy also
evaluation of financial stability, cost of capital efficiency, and aims to add value for shareholders and other stakeholders.
risk profile. In its management, the Company balances the use The Company is committed to maintaining a healthy financial
of equity and debt to ensure adequate liquidity, maintain an ratio, including ROE, to ensure competitive returns. Through
optimal level of leverage, and reduce long-term financial risks. this approach, the Company can support sustainable business
Additionally, external factors such as economic conditions, growth, enhance competitiveness, and maintain market
interest rates, and access to funding sources are considered confidence in its solid financial performance.
when determining a flexible and adaptive capital structure
strategy.

128 Annual Report 2024

Material Commitments for
Capital Expenditure
Capital expenditure (CapEx) refers to the spending on the purchase of fixed assets or the addition of items expected to provide
future economic benefits. The Company strategically allocates these investments to support business growth and operational
efficiency. As of the end of 2024, AKR and its Subsidiaries do not have any material capital expenditure commitments, which
would constitute 20% of equity value.

Realized Capital
Expenditure
In 2024, the Company realized capital expenditure amounting to Rp1,266 billion, an increase of Rp333 billion or 36% compared
to Rp933 billion in the previous year. This investment was primarily aimed at supporting the Company’s operations. The detailed
realization of capital expenditure is presented in the table below:

Investment Value
Investment Type Investment Purpose
(Rp Billion)

Buildings, Jetties, Warehouses, and Storage Tanks Operational Support 86

Machinery and Equipment Infrastructure Capacity Support 48
Warehouse Equipment and Port Unloading Equipment Infrastructure Capacity Support 2
Vehicles Fleet Capacity Expansion 42
Building Renovations Operational Support 1
Office Equipment Operational Support 9
Vessels Fleet Capacity Expansion 182
Construction of Vessel and Tank
Assets Under Construction 896
Facilities
Total Investment 1,266

Target and Realization 2024

In 2024, AKR revised its strategic targets to navigate evolving However, macroeconomic headwinds and prevailing
market conditions and maintain sustainable growth. The uncertainties in the domestic and global markets led to a
Company aimed to achieve net profit growth of 4%–7%, decline in client activity, impacting topline performance.
underpinned by a projected 1%–3% increase in gross profit In response, the management proactively implemented
within the Trading and Distribution segment and targeted land measures to sustain profitability. This included offering more
sales of 100 hectares in the Industrial Estate business. competitively priced products tailored to customer needs,
enhancing affordability and maintaining market share.

Annual Report 2024 129

 Management Discussion and Analysis

Notably, the Retail Fuel segment demonstrated robust AKR remains committed to expanding its market reach, with
growth, driven by the expansion of retail fuel outlets in key focused efforts on customer acquisition and promotion of
urban centers, contributing positively to segmental revenue JIIPE (Java Integrated Industrial and Port Estate) as a premier
and gross profit. Despite not fully achieving the original annual Special Economic Zone. JIIPE offers competitive advantages
targets, AKR maintained a resilient profitability level reached such as fiscal and non-fiscal incentives, modern infrastructure,
Rp2.25 trillion, reflecting the effectiveness of its strategic and world-class utilities, positioning it as an attractive
adjustments and cost management initiatives. destination for both domestic and international investors.

2025
Projection
The outlook for 2025 remains cautiously optimistic amidst Company Projection 2025
global challenges including commodity price volatility, high
interest rates, supply chain disruptions, and climate-related In 2025, AKR is poised for stronger performance, despite
risks. Global GDP growth is projected at 3.2%, while Indonesia global macroeconomic uncertainties. Net profit is projected
is expected to grow at a steady 4.7%–5.5%, mirroring 2024 to grow by 8%–15%, driven by recovery across business
performance. segments, operational resilience, and strategic investments.

The Trading and Distribution segment is expected to deliver

Inflation is forecast to remain controlled at 2.5% ± 1%, gross profit growth of 5%–8%, supported by increased
supported by monetary easing from Bank Indonesia. In 2025, demand for basic chemicals and petroleum products,
the BI 7-Day Reverse Repo Rate was lowered to 5.75%, with particularly in Eastern Indonesia. The Mining sector, a key
corresponding reductions in Deposit and Lending Facility customer base for petroleum distribution, is projected to
rates to 5.00% and 6.50% respectively. These measures are grow in line with rising pre-stripping and mineral extraction
aimed at maintaining macroeconomic stability, stimulating activities. Government support for downstreaming and rising
domestic consumption, and supporting investment activity. global demand for critical green minerals such as nickel,
bauxite, and copper will further fuel demand.
The Indonesian government continues to promote structural
transformation through 17 priority programs, including food AKR’s logistics infrastructure comprising storage terminals,
and energy security, industrial downstreaming, and green a fleet of vessels, and road tankers supported by innovative
economy initiatives. The downstreaming strategy, particularly Information technology platform will enhance delivery
in minerals and energy, is expected to enhance value addition efficiency and responsiveness to customer needs.
and catalyze industrial growth.
The Retail Petroleum segment will continue to expand,
JIIPE’s recognition as the Best Special Economic Zone by supported by strategic rollout of new outlets, promotion of
the Coordinating Ministry for Economic Affairs reflects high-quality fuel products, and localized marketing initiatives
strong government endorsement. This strengthens its aimed at urban and semi-urban markets.
value proposition for investors, supported by operational
smelters and downstream industries within the SEZ, which The Industrial Estate business at JIIPE is projected to achieve
will contribute meaningfully to AKR’s performance through land sales of 80–110 hectares, up from 37 hectares in
increased land sales and recurring service income. 2024. Aggressive marketing campaigns, combined with
JIIPE’s value proposition as an integrated industrial SEZ, are
In the energy sector, the rollout of B40 biodiesel in January expected to attract both FDI and domestic investment. The
2025 represents a significant step toward Indonesia’s Net Zero commencement of operations by the copper smelter and
Emission 2060 target. The program involves the distribution other large-scale industries in the estate will increase demand
of 15.6 million kiloliters of biodiesel nationwide, supported for utilities and port services, driving growth in recurring
by 24 biofuel business entities. Under this mandate, AKR was income.
entrusted with distributing 167,515 kiloliters of subsidized fuel
in 2024, affirming its strategic role in ensuring national energy
security.

130 Annual Report 2024

To support sustainable profitability, AKR will prioritize strict These initiatives collectively position AKR for sustained long-
working capital management, productivity enhancements, term growth, reinforcing its commitment to operational
and implementation of digital technologies across excellence, innovation, and environmental responsibility.
operations. The Company will also focus on energy efficiency
and sustainability programs to improve its ESG performance,
further aligning with investor and stakeholder expectations.

Employee and Management Stock

Ownership Program (MESOP)
Referring to the Share Buyback Transfer Plan of AKR as stated The exercise price for the MESOP program is Rp499 per
in letter No.027/L-AKRCS/2024 dated March 20, 2024, the share. On the exercise date of an option right, participants
Company proposed to transfer a portion of the repurchased must purchase the treasury shares according to the number
shares through the Employee and Management Stock of MESOP shares allocated to each participant (as outlined in
Ownership Program (MESOP). the option grant agreement) at the payment price per share
corresponding to the exercise price.
The share transfer plan was approved by shareholders at
the Annual General Meeting of Shareholders (AGMS) held on
April 29, 2024. Shareholders approved the plan to transfer
156,500,000 treasury shares, or 0.78% of the issued and fully
paid-up capital. The management and key employees of the
Company have the option to purchase AKRA shares through
the MESOP program.

Number of Number of Number of

Number of Exercise Price
MESOP Stage Options Options Options
Options (Rp)
Granted Executed Expired

2024 I (2024) 156,500,000 15,650,000 15,650,000 - 499,00

Information and Material Facts After the

Accountant’s Report Date
On January 15, 2025, the Company signed a loan agreement with PT Bank Rakyat Indonesia (Persero) Tbk (BRI), under which BRI
agreed to provide the following facilities:
1. A credit facility totaling US$200,000,000 with sub-limits for: KMK Buyer, LC/SKBDN, Short-Term Credit, BG/SBLC, and
SCF A/P;
2. A Forex Line facility of US$20,000,000.

The agreement also requires the Company to maintain certain financial ratios. The facility is valid until January 15, 2026.

Annual Report 2024 131

 Management Discussion and Analysis

Business
Outlook
Fuel Trading & Distribution Outlook

The Company has a consistent petroleum distribution strategy 2. Smelters

to create sustainable value for stakeholders and build a legacy The government prioritizes the development of smelter
of sustainability for the future. By adopting a formula-based industries, targeting 35 nickel smelters in operation by
pricing approach referring to the Mean of Platts Singapore the end of 2024. The Company’s strategy supports
(MOPS), the Company maintains price stability and ensures downstream acceleration by ensuring efficient petroleum
operational efficiency. Through a pass-through mechanism, distribution, strengthening the value chain in this sector.
the impact of global oil price changes and exchange rate Moreover, the expansion of copper and bauxite smelter
fluctuations can be passed on to customers, effectively capacity, in line with Law No. 3 of 2020, creates greater
securing against currency risk. energy demand.
3. Plantations
In 2025, petroleum distribution for industrial and business The Company supports the B35 biodiesel mandate
segments is projected to record strong growth. This is effective from early 2024 and the planned B40
driven by increased economic activity across Indonesia, implementation in the second half of the year. With
including the eastern region, which is becoming a hub for domestic crude palm oil (CPO) consumption projected to
mineral downstreaming and other national strategic projects. rise from 19.64 million tons in 2024 to 56.63 million tons in
This effort strengthens the Company’s contribution to 2025, petroleum distribution is integral to the program’s
accelerating economic growth and sustainable development. success. Indonesia’s success in the WTO case against the
1. Mining EU’s deforestation policy also opens greater opportunities
The Company’s petroleum distribution strategy targets for CPO exports.
the continuously expanding mining sector. With national 4. Bunker Services
coal production projected to reach 831 million tons in 2025, The Company is designing strategies to seize opportunities
surpassing the 735 million-ton target, petroleum demand from rising petroleum demand in the fisheries and mining
for pre-stripping and mining operations is expected sectors. Government policies on maritime surveillance
to rise significantly. Additionally, the government’s and operational ease for fishermen serve as catalysts for
downstreaming program and global demand for green growth in this segment.
energy materials are driving growth in the production of
minerals such as nickel, bauxite, and copper.

132 Annual Report 2024

5. General Market 7. Retail
Expansion in the manufacturing, trade, construction, To create added value in the retail sector, the Company
and transportation sectors is driving petroleum demand operates fuel stations through AKR Retail Outlets and its
distributed by the Company. Major projects, including the partnership with AKR-bp. With a target of adding 15 new
development of the Nusantara Capital City (IKN), offer stations in 2025, the Company aims to improve energy
strategic opportunities for the Company to strengthen its accessibility for the public. Government policy regarding
role in supporting national development. price adjustments for RON 92 is projected to drive
6. Power Generation increased sales volume.
The Company is committed to supporting energy sector 8. Aviation Fuel
growth by supplying petroleum to both public and private The Company is capitalizing on opportunities in the
power plants. Increased national electricity consumption aviation fuel sector through PT Dirgantara Petroindo
due to industrial downstreaming highlights the Company’s Raya, a strategic joint venture between AKR and Air bp.
position as a strategic partner in energy supply. This aviation fuel distribution is expected to continue
expanding, strengthening the Company’s presence in the
aviation sector.

Basic Chemicals Trading & Distribution Outlook

The Company’s long-term strategy in the basic chemicals sector focuses on sustainability and growth. Demand for caustic
soda and other chemicals continues to rise, driven by mining downstreaming programs and the needs of the smelter industry.
By maintaining solid financial performance, the Company is optimistic about continuing to deliver value to stakeholders through
2025.

Manufacturing Outlook

The Company, through Aruki, leverages market dynamics in the property and furniture sectors to create growth opportunities.
With furniture export projections reaching USD 5 billion in 2025, Aruki has a strategic opportunity to expand both its domestic and
global markets. By capitalizing on the positive trends in the furniture and property sectors, Aruki is positioned to become a growth
engine within the Company’s business portfolio.

Annual Report 2024 133

 Management Discussion and Analysis

Logistics Outlook

As part of its sustainability legacy, the Company continues 2. Jakarta Tank Terminal (JTT)
to invest in its fleet of vessels, trucks, and logistics facilities The strategic capacity of JTT will continue to be expanded
to support market growth in Eastern Indonesia. By the end to support petroleum distribution across Java Island,
of 2024, with the operation of 17 ports and further expansion creating sustainable supply chain efficiency.
plans, the Company has strengthened its position as a leader
in the national logistics sector. 3. Bulk and Container Handling
The Manyar Terminal, managed by PT Berlian Manyar
1. Petroleum Storage Tanks & Transportation Sejahtera, is expanding its jetty capacity to support copper
The Company’s logistics strategy includes petroleum smelter operations in the JIIPE Gresik area, generating
distribution via a fleet of vessels and trucks, with added positive impact for national industrial growth.
operational capacity designed to meet rising demand.

Industrial Estate Outlook

As a strategic project spanning 3,000 hectares, JIIPE is In 2025, revenue from the JIIPE SEZ is expected to grow due to
designed to create sustainable business connectivity. With several key factors:
three main segments land sales, utilities, and port JIIPE 1. Land sales to major industries, including both domestic and
positions itself as a leading industrial hub in Indonesia. In 2025, international investors.
revenue from this area is projected to increase significantly 2. Increased revenue from the utilities segment, supported
through strategic partnerships with major industries, including by the operation of key tenants such as the copper smelter,
a copper smelter and glass factory. This approach reflects the glass factory, and advanced copper processing plants,
Company’s commitment to creating a legacy of inclusive and which will accelerate the use of electricity, water, and gas in
sustainable economic growth. the area.

The three core segments of JIIPE land sales, utilities, and Projections for 2025 indicate that the industrial estate
port are expected to be the main drivers of recurring income, will continue to expand as more companies invest in JIIPE,
contributing positively to the Company’s profits. positioning it as one of Indonesia’s leading industrial centers.

Dividends
Dividend Policy

AKR is committed to delivering added value to shareholders In accordance with the Initial Public Offering prospectus
through a dividend policy that balances profit distribution in 1994, AKR has a policy to distribute cash dividends to all
and business expansion needs. The Company consistently shareholders at least once a year. The Company’s dividend
distributes dividends while taking into account financial policy sets a minimum of 30% of the previous year’s net profit
performance, cash position, growth projections, the (if the profit exceeds Rp50 billion).
Company’s financial health, and without limiting the rights of
the General Meeting of Shareholders (GMS) to support long-
term strategies.

134 Annual Report 2024

 Dividend Distribution Timeline

In accordance with the 2024 Annual General Meeting of Thus, the remaining dividend to be paid amounts to Rp987
Shareholders held on April 29, 2024, shareholders approved billion or Rp50 per share, based on the outstanding number
and declared the distribution of dividends amounting to of shares totaling 19,737,169,600 shares, after deducting
88.73% of the profit for the year attributable to owners of the treasury stock of 336,305,000 shares. The cash dividend
parent entity, which totaled Rp2,780 billion. Accordingly, the payment will be made with a recording date set on May 14,
dividend distribution for the 2023 Fiscal Year amounted to 2024, at 4:00 p.m. WIB.
Rp2,467 billion, with a dividend per share of Rp125.
The cash dividend distribution schedule is as follows:
The final dividend to be paid to all shareholders will be net of 1. Cum dividend in the Regular and Negotiated Markets:
the first and second interim dividends that were previously May 8, 2024
distributed. The first interim dividend was set by the Board 2. Ex dividend in the Regular and Negotiated Markets: May
of Directors’ resolution on July 24, 2023, at Rp50 per share, 13, 2024
and the second interim dividend was based on the Board 3. Cum dividend in the Cash Market: May 14, 2024
of Directors’ resolution dated October 23, 2023, at Rp25 4. Ex dividend in the Cash Market: May 15, 2024
per share. 5. Recording Date for Dividend Entitlement: May 14, 2024
6. Dividend Payment Date: May 27, 2024

The timeline of AKR’s dividend distributions over the past two

years is as follows:

Dividend per Announcement

Fiscal Year Net Profit Dividend Payout Ratio Payment Date
Share Date

2023 Rp2,780 billion Rp2,467 billion Rp125 88.73% 29 April 2024 27 May 2024

2022 Rp2,403 billion Rp1,480 billion Rp75 61.59% 28 April 2023 24 May 2023

Marketing
In facing global and national economic challenges, AKR Basic Chemicals
prioritizes innovative strategies and value-based service As the principal distributor of Asahimas Chemical Group, the
enhancement to achieve sustainable growth targets. The Company’s strategy includes:
marketing strategy is designed with a focus on strengthening 1. Market Expansion: Growing the customer base while
the Company’s position in its core business segments, maintaining long-term relationships with existing loyal
creating direct benefits for stakeholders, and building a long- customers.
term sustainability legacy. The details of AKR’s marketing 2. Supporting Mineral Downstreaming: Providing basic
strategy are outlined as follows: chemical products tailored to meet the needs of the
rapidly growing smelter sector in Indonesia, in alignment
Petroleum (BBM) with the transformation of the national industry.
1. Enhancing Industrial Market Share 3. Competitive Pricing and Superior Services: Offering
The Company has strengthened its market penetration competitive prices and accurate service level agreements
through a combination of physical and digital infrastructure (SLAs), reflecting a strong commitment to customer
development, enabling efficient distribution and high- satisfaction.
quality services. This strategy ensures reliable fuel supply 4. Storage Capacity Enhancement: Increasing tank capacity
to industrial customers at competitive costs. to meet rising market demand, ensuring long-term supply
2. Expanding New Market Opportunities reliability.
Strategic focus was placed on Eastern Indonesia and the
retail segment through collaboration with bp, delivering Wood Adhesive Manufacturing
high-quality petroleum, lubricants, and aviation fuel, 1. Offering competitive pricing to large, high-potential
thereby creating added value for customers. customers.
2. Conducting proactive marketing efforts to attract new
consumers and broaden the customer base.
3. Expanding distribution to international markets to enhance
global competitiveness.

Annual Report 2024 135

 Management Discussion and Analysis

Logistics 2. Developing Green Industrial Zones: Integrating renewable

1. Expanding bulk dry and liquid handling capacities across and clean energy sources to meet the sustainability needs
Indonesia to support a reliable supply chain. of tenants.
2. Providing integrated one-stop services for petroleum and 3. Generating Recurring Revenue: Developing large-scale
basic chemical customers, delivering added value through utilities to fulfill tenant requirements, supporting long-term
operational efficiency. and stable revenue growth.

Industrial Estate These strategies not only enhance AKR’s competitiveness

1. Targeting Heavy and High-Tech Industries: Positioning across all business segments but also ensure sustainable
JIIPE as a hub for heavy and high-technology industries, value creation for stakeholders while building a legacy aligned
including copper smelting. with future demands.

Market Coverage

AKR is expanding its market presence through an integrated logistics infrastructure that supports the national supply chain. With
a network comprising 13 seaports, 6 river ports, and 20 storage tank locations and warehouse across Indonesia, AKR ensures
domestic and industrial estate demand is met with maximum efficiency. AKR’s served market includes domestic coverage within
Indonesia for petroleum supply, as well as international reach through the JIIPE industrial estate.

Realization of Proceeds
from Public Offering
In 2024, AKR did not issue new shares, bonds, sukuk, or subordinated instruments so, information on any realization of proceeds
from public offerings is not presented in the 2024 Annual Report.

Material Information on Investment,

Expansion, Divestment, Merger/
Consolidation, Acquisition, and Debt/
Capital Restructuring
Throughout 2024, AKR and its subsidiaries undertook several 2. Based on Deed of Notary Yulia, S.H., No. 13 dated 8 January
investment and expansion activities as follows: 2024, PT Anugerah Krida Retailindo (AKRIDA) increased
1. Based on Deed No. 8 dated 5 January 2024, the Company its issued and paid-up capital from Rp821,165,000 to
and UEPN established a new entity, PT Berkah Renewable Rp949,165,000. The Company subscribed to the entire
Energi Nusantara (BREN). The Company holds 99.97% increase amounting to Rp128,000,000. Disclosure was
ownership in BREN, and the remainder is held by UEPN. made through Letter No. 005/L-AKR-CS/2024 dated 10
The total paid-up capital is Rp30,000,000. BREN will January 2024 to the Financial Services Authority (OJK) and
engage in electricity generation, operation, construction, the Indonesia Stock Exchange (IDX).
and installation. Disclosure was submitted via Letter
No. 004/L-AKR-CS/2024 dated 9 January 2024 to OJK
and IDX.

136 Annual Report 2024

3. Based on Deed No. 11 dated 8 January 2024, ADH increased 9. Based on Deed No. 188 dated 2 October 2024,
its issued and paid-up capital from Rp205,950,000 to PT Dirgantara Petroindo Raya (DPR) increased its
Rp355,950,000. The Company subscribed to the full issued and paid-up capital from Rp142,904,600 to
increase of Rp150,000,000. Disclosure was made via Rp158,309,600. AKRIDA subscribed to Rp7,717,905, while
Letter No. 006/L-AKR-CS/2024 dated 10 January 2024. bp Global Investment Limited subscribed to the remaining
4. Based on Deed No. 12 dated 8 January 2024, PT Anugerah Rp7,687,095.
Kreasi Pratama Indonesia (AKPI) increased its authorized 10.Based on Deed No. 16 dated 3 October 2024, PT Berkah
capital from Rp100,000,000 to Rp500,000,000 and Bunker Service (BBS) increased its issued and paid-up
its issued and paid-up capital from Rp30,000,000 to capital from Rp10,000,000 to Rp20,000,000. AKRIDA
Rp180,000,000. Andahanesa subscribed to the full subscribed to the full increase of Rp10,000,000.
increase of Rp150,000,000. 11. Based on Deed No. 32 dated 7 October 2024, the Company
5. Based on Deed No. 63 dated 23 February 2024, PT AKR and PT Usaha Era Pratama Nusantara (UEPN) established a
Sea Transport (AST) increased its authorized capital from new entity, PT Terminal Energi Primer (TEP). The Company
Rp300,000,000 to Rp500,000,000 and its issued and owns 99.99% of TEP, while the remaining shares are held
paid-up capital from Rp274,900,000 to Rp404,900,000. by UEPN. TEP’s authorized capital is Rp100,000,000,
The Company subscribed to the entire increase of of which Rp25,000,000 has been issued and paid up.
Rp130,000,000. Disclosure was submitted through Letter The Company subscribed to Rp24,990,000 and UEPN
No. 017/L-AKR-CS/2024 dated 27 February 2024. subscribed to Rp10,000. TEP will operate in warehousing
6. On 12 April 2024, the Company established a new entity, and storage, oil and gas storage, and related support
Chemical Petroleum International Trading Pte. Ltd. (CPIT), activities.
in Singapore. The Company owns 100% of CPIT, which 12. Based on Deed No. 151 dated 29 October 2024,
will engage in the trading and distribution of chemical APR increased its issued and paid-up capital from
and fuel products. CPIT’s total issued and paid-up capital Rp1,683,713,448 to Rp1,833,790,860. AKRIDA subscribed
is US$5,000,134.72. Disclosures were made via Letters to Rp75,188,783 of the increase, while the remaining
No. 040/L-AKR-CS/2024 dated 17 April 2024 and No. Rp74,888,629 was subscribed by bp Global Investment
055/L-AKR-CS/2024 dated 4 June 2024. Limited.
7. Based on Deed No. 33 dated 12 July 2024, ADH increased 13. Based on Deed No. 126 dated 26 November 2024, AKRIDA
its capital from Rp355,950,000 to Rp356,449,000. The increased its authorized capital from Rp1,000,000,000
Company subscribed to the full increase of Rp499,000. to Rp1,500,000,000, and its issued and paid-up capital
Disclosure was submitted through Letter No. 073/L-AKR- from Rp967,165,000 to Rp1,039,165,000. The Company
CS/2024 dated 18 July 2024. subscribed to the full increase of Rp72,000,000.
8. Based on Deed No. 167 dated 25 September 2024, Disclosure was submitted through Letter No. 120/L-AKR-
AKRIDA further increased its capital from Rp949,165,000 CS/2024 dated 11 December 2024.
to Rp967,165,000. The Company subscribed to the
entire increase amounting to Rp18,000,000. Disclosure
was made via Letter No. 108/L-AKR-CS/2024 dated 26
September 2024 to OJK and IDX.

Annual Report 2024 137

 Management Discussion and Analysis

Material Transactions Involving Conflicts

of Interest and/or Transactions with
Affiliated Parties
The Company and its Subsidiaries conduct transactions b. One entity is an associate or joint venture of the other
with related parties in a transparent manner and based on entity (or of a group member to which the other entity
mutually agreed terms. All such transactions are carried out in belongs);
accordance with the provisions of PSAK 224 on Related Party c. The entity is controlled or jointly controlled by a person
Disclosures. identified in point (1);
d. A person identified in point (1)(a) has significant influence
A related party is any individual or entity that is related to the over the entity or is a member of the key management
Company preparing its financial statements, namely: personnel of the entity (or of a parent of the entity);
1. An individual or a close family member is considered to e. The entity, or any group member to which it belongs,
have a relationship with the Company if the person: provides key management personnel services to the
a. has control or joint control over the Company; Company or to the parent of the Company.
b. has significant influence over the Company; or
c. is a member of key management personnel of the All significant transactions with related parties have been
Company or of the parent of the Company. disclosed in the notes to the Consolidated Financial
2. An entity is related to the Company if any of the following Statements.
conditions apply:
a. The entity is a member of the same group (which means
that each parent, subsidiary, and fellow subsidiary is
related to the others);

Policy on Fairness Review Mechanism and Regulatory Compliance for Related Party Transactions

The Company adheres firmly to the Arm’s Length Principle in all The Company and its subsidiaries carry out related party
transactions, including those involving related parties or those transactions in accordance with PSAK No. 224 on Related
that may potentially result in a conflict of interest. All such Party Disclosures and Bapepam-LK Regulation No. KEP-347/
transactions are conducted in compliance with applicable BL/2012 dated 25 June 2012 concerning the Presentation
laws and regulations to ensure transparency and adherence and Disclosure of Financial Statements of Issuers or Public
to accounting standards and financial regulations, and under Companies.
the supervision of the Board of Directors and reviewed by the
Board of Commissioners and the Audit Committee to ensure As of the end of 2024, there were no violations of laws and
alignment with prevailing business practices regulations related to related party transactions and/or
transactions involving conflicts of interest.

Purpose of Transactions with Affiliated Parties

The Company transacts with affiliated parties to support In addition, affiliated party transactions are conducted to
more efficient operations, ensure supply chain continuity, obtain services, goods, or financing under competitive
and optimize synergies within the business group. These terms and to support sustainable business development.
transactions also aim to enhance value for shareholders and The Company ensures that all such transactions are carried
stakeholders while upholding the Arm’s Length Principle and out transparently, in accordance with regulations, and
sound Corporate Governance. under the supervision of the Board of Directors, Board of
Commissioners, and Audit Committee to avoid conflicts of
interest and deliver optimal benefits to the Company.

138 Annual Report 2024

 Nature of Related Party Relationships

Related parties are entities or individuals that have an association with the Company, either through ownership, management, or
other significant relationships, whether directly or indirectly. Such relationships may include the parent company, subsidiaries,
associate companies, key management personnel, as well as other parties that have significant influence over the Company’s
financial and operational decisions.

A detailed overview ois presented in the following table:

Related Party Nature of Relationship Nature of Transaction

PT Komersial Logistik Nusantara Transaction with Entity under Common Office Rental
Control
PT AKR Land Development Transaction with Entity under Common • Service Charge to the Company and
Control Subsidiaries
• Sale of Petroleum
• Transportation Revenue
• Land Sale and Purchase
PT Berlian Manyar Sejahtera Transaction with Associate Entity • Sale of Petroleum
• Management Fee
• Land Lease

Realization of Transactions with Related Parties

The realization of AKR’s transactions with related parties for the years 2024 and 2023 is presented in the following table:
In Thousand of Rupiah

Details 2024 2023

PT Komersial Logistik Nusantara

Office Rental 24,000 12,000
PT AKR Land Development
Service Charge to the Company and Subsidiaries 6,097,978 5,453,356
Percentage of Operating Expenses 0.6% 0.6%
Sale of Fuel (BBM) 485,017 313,356
Percentage of Revenue 0% 0%
Transportation Revenue 8,800 4,800
Percentage of Income 0% 0%
Land Sale and Purchase (54,828,597) 54,828,597
Percentage of Liabilities 0.5% -
Acquisition of Fixed Assets 44,987,200 -
Percentage of Assets 0.14% -
PT Komersial Logistik Nusantara
Office Rental 24,000 12,000
Percentage of Net Profit for the Year 0.0% 0.0%
PT Berlian Manyar Sejahtera
Sale of Fuel (BBM) 1,169,559 1,301,511
Percentage of Revenue 0% 0%
Management Fee to the Company and Subsidiaries 3,578,736 1,573,310
Percentage of Net Profit for the Year 0.2% 0.1%
Land Rental 2,844,703 2,142,823

Annual Report 2024 139

 Management Discussion and Analysis

Changes in Laws
and Regulations
As of December 31, 2024, there were regulatory changes that had a significant impact on the Company’s business activities. One
of these was OJK Regulation No. 4 of 2024 (POJK 4/2024) on the Reporting of Share Ownership and Changes in Shareholding of
Public Companies. In response to this regulation, AKR updated its policy on share ownership reporting, as outlined in Regulation
No. 001/R-AKR-CS/2024. Under this updated policy, any changes in share ownership must also be reported to the OJK no later
than 5 (five) business days after the transaction occurs.

Changes in Accounting Policies

Affecting the Company
AKR has established its accounting policies in accordance In addition, entities are required to disclose when a liability
with the Financial Accounting Standards (SAK) issued by the arising from a loan agreement is classified as non-current
Financial Accounting Standards Board of the Indonesian and the entity’s right to defer settlement depends on
Institute of Accountants (DSAK-IAI). These policies are applied compliance with future covenants within twelve months.
consistently in the preparation of the Consolidated Financial 3. Amendments to PSAK 116 (Previously Referred to as PSAK
Statements, reflecting transparency and compliance with 73): Lease Liabilities in Sale and Leaseback Transactions
applicable accounting regulations. The amendment to PSAK 116: Leases establishes
requirements for how a seller-lessee measures lease
Effective 1 January 2024, several revised accounting standards liabilities arising from a sale and leaseback transaction. This
impacted the Group’s Consolidated Financial Statements, ensures that the seller-lessee does not recognize any gain
including: or loss related to the retained right-of-use asset.
1. Financial Accounting Standards Nomenclature 4. Amendments to PSAK 207 (Previously Referred to as
A new numbering system for each PSAK and ISAK has PSAK 2) and PSAK 107 (Previously Referred to as PSAK
been introduced, as published by DSAK IAI, applicable 60): Supplier Financing Arrangements
for accounting periods beginning on or after 1 January The amendments to PSAK 207 and PSAK 107 clarify
2024. The content of the related PSAK and ISAK remains the characteristics of supplier financing arrangements
unchanged and does not result in any accounting impact and require additional disclosures regarding these
on the consolidated financial statements. arrangements. These disclosure requirements are intended
2. Amendment to PSAK 201 (previously referred to as PSAK to help financial statement users understand the impact of
1): Non-current Liabilities with Covenants supplier financing arrangements on an entity’s liabilities,
This amendment sets out the requirements for classifying a cash flows, and exposure to liquidity risk.
liability as current or non-current and clarifies:
• what constitutes a right to defer settlement; This amendment has no impact on AKR’s Consolidated
• that the right to defer settlement must exist at the end of Financial Statements.
the reporting period;
• that classification is not affected by the likelihood that
the entity will exercise its right to defer; and
• that if an embedded derivative in a convertible liability
is classified as an equity instrument, the terms of the
liability do not affect its classification as current or
non-current.

140 Annual Report 2024

Going Concern
Information
AKR has demonstrated operational resilience amid business Overall, the Company has implemented various strategic
dynamics through a strategy focused on infrastructure, measures to anticipate challenges that may hinder growth
digital technology, and strong customer relationships. A in 2024. Additionally, the Company continues to pursue
robust business model and solid financial position enable strategies and business models that have proven effective in
the Company to consistently deliver positive performance. driving growth.
In managing potential risks, AKR continues to monitor
industry developments and adapt its business strategies Looking ahead, AKR will maintain flexibility in responding
to mitigate emerging challenges, including optimizing to market changes, identifying new growth opportunities,
operational efficiency, diversifying its business portfolio, and and strengthening its business fundamentals to ensure
strengthening corporate governance to ensure sustainable sustainable going concern and long-term growth.
business continuity.

The Company is also committed to applying sustainability

principles across all aspects of its operations, including
adopting environmentally friendly practices, optimizing
energy use, and ensuring compliance with applicable
regulations. These efforts not only enhance AKR’s
competitiveness in the industry but also provide long-term
value for stakeholders.

Management Assessment

Throughout 2024, joint evaluations by the Board of The transformation of JIIPE SEZ into a green industrial
Commissioners and the Audit Committee confirmed that AKR ecosystem paves the way for sustainable growth through
remains in a strong position with significant growth potential the development of internationally standardized utilities and
in the future. The focus on the petroleum and basic chemical the utilization of renewable energy. By prioritizing innovation
segments, supported by strategic partnerships and superior and sustainability principles, AKR not only ensures business
infrastructure, continues to create expansion opportunities in competitiveness in the modern era but also builds a legacy
both domestic and international markets. that aligns with current needs and supports a greener and
more inclusive future.

Business Development Potential

In line with the Assignment Decree issued by BPH Migas, the In addition, the availability of world-class industrial utilities
Company resumed the distribution of subsidized fuel for the operated by PT Berkah Kawasan Manyar Sejahtera (BMKS),
2024 Fiscal Year, reflecting the government’s confidence in along with deep-sea port services managed by PT Berlian
AKR’s capability to distribute energy efficiently and accurately. Manyar Sejahtera (BMS), provides convenience and
Supported by an integrated logistics infrastructure and an strategic access for tenants at JIIPE. This infrastructure not
extensive distribution network, the Company continues to only improves logistics and distribution efficiency but also
expand its service coverage to ensure fuel availability for key strengthens JIIPE’s appeal as an integrated industrial estate
sectors, while strengthening AKR’s position as a major player capable of supporting sustainable business growth.
in the national energy industry.

Business development potential is further enhanced by the

growing downstream ecosystem in Indonesia, driven by the
operation of the world’s largest copper smelter at JIIPE and
the expansion of other industrial ecosystems. The presence of
this smelter serves as a catalyst for the growth of value-added
industries, creating new opportunities within the national
supply chain and enhancing the competitiveness of domestic
manufacturing.

Annual Report 2024 141

05
Business
Support
Functions
 Business Support Functions

Human
Resources

Human Resources has been key to AKR’s success

in driving transformation, where the dedication and
collaboration of the employees has enabled the Company
to continue growing, overcome market challenges, and
maintain a reputation for being a reliable and trustworthy
business partner.

Human Resources Management Strategies and General Policies

2024 was significant in the development of Human Capital and To support the implementation of human resource
the achievement of the Company’s objectives, as competent management, the Company conducts its business
and professional personnel are the cornerstone for corporate operations by upholding its core values: Be Entrepreneurial,
growth and long-term stability. Collaboration, Be Agile, Reward for Performance, Empower
Your Team, and Zero Tolerance. The Company also provides
HR development programs, such as technical training, soft opportunities for every employee to develop their career
skill enhancement, and career development opportunities, and potential within the organization. Regular evaluations and
ensure that individuals can contribute to the Company’s reviews of these policies are conducted to align with the labor
objectives. AKR’s development programs are based on market conditions in Indonesia.
recommendations provided by each employee’s supervisor
according to specific needs. Therefore, employee welfare
such as health programs, recognition for both individual and
team achievements, and a structured remuneration scheme
are crucial.

Human Resources Organizational Structure

The HR Department’s main duties include ensuring that every process of HR management and development, from planning to
program evaluation, is conducted properly, and in a structured, efficient manner. The profile of the Head of the HR Department,
Felix Abednego, is presented in detail in Chapter 3 of the Company Profile section of this Annual Report.

144 Annual Report 2024

 Human Resources Objectives

AKR policies are converted into strategic HR development 3. Align departmental and individual Key Performance
objectives to support the achievement of both medium- and Indicators (KPIs) with corporate strategy, while consistently
long-term business targets through innovative programs that enhancing the performance review process.
enhance employee quality, productivity, and well-being This 4. Ensure timely recruitment processes to fill positions arising
also aligns HR management with the Company’s strategic from business expansion.
vision, resulting in the following objectives: 5. Utilise IT-based tools for automation and analytics to
1. Prepare employees at all levels to carry out assigned duties support decision-making.
and responsibilities effectively. 6. Provide technical training programs.
2. Prioritise internal talent to fill available positions, especially 7. Enhance occupational health and safety standards.
those requiring specialised skills and in-depth industry
knowledge.

Human Resources Strategies and Work Programs

Strategies, key initiatives, and work programs consider intensive coaching by supervisors to encourage more
internal and external factors, as well as future roadmaps, and effective work habits.
include: 4. Talent Management & Recruitment: Conducted by
1. Onboarding Program: Implemented to equip and monitor identifying internal talent during manpower planning and
employees' progress during the probation period, ensuring filling vacancies due to business expansion or employee
they adapt to the work rhythm and understand processes turnover, with the Company promoting Internal Fulfilment,
aligned with the Company’s target achievements. The following a fit and proper test, for any vacant positions.
Company believes that, during the probation period, 5. Training & Competency Development: Provided to
effective onboarding is key to ensuring long-term success employees, covering technical training, workplace safety,
and a rapid contribution from new employees. leadership, and management development, particularly for
2. Key Performance Indicator (KPI): Continuously improved new and young leaders to ensure optimal growth.
each year to ensure alignment between each position and 6. Corporate Values Integration: Incorporated into
the company's objectives. Performance evaluations are performance reviews by including assessments related to
conducted twice a year, fostering a culture of openness to the implementation of company values in day-to-day work.
feedback for continuous performance improvement. 7. Technology Optimization in HR Processes: Includes
3. Performance Improvement Plan: Applied to employees automating attendance, overtime, leave, and health
who have not yet met performance standards, including administration processes to improve operational
efficiency.

HR Department Achievements

Throughout 2024, the HR Department recorded various 1. 95% of workforce fulfilment met the standard
achievements that supported strategic and sustainable HR recruitment time.
management, reflecting the Department’s commitment to 2. Over 40% of vacant positions were filled by internal talent
enhancing the quality of human resources, strengthening the through the fit and proper test process.
Company’s cultural values, and supporting business targets 3. Implementation of Leadership Training to enhance
through various innovative and measurable programs. The key leadership competencies.
achievements include: 4. Successful digitalisation of the Performance Evaluation
process.
5. Fulfilment of Human Capital needs at new work sites and
operational units.

Annual Report 2024 145

 Business Support Functions

Employee Composition

In general, the total number of AKR employees (including subsidiaries) as of the 31st December 2024 was 2,452, a decrease of 361
employees or 12.8% compared to the 2,813 employees in 2023. The following table provides a fuller comparison based on various
categories:

Based on Role

2024 2023
Role
Total % Total %

Board of Commissioners 3 0.1% 3 0.1%

Directors 7 0.3% 7 0.2%
Commissioner-Level Officials 5 0.2% 7 0.2%
Director-Level Officials 23 0.9% 25 0.9%
General Manager – Senior Manager 72 2.9% 59 2.1%
Manager 130 5.3% 137 4.9%
Assistant Manager 158 6.4% 148 5.3%
Supervisor and Staff 803 32.7% 937 33.3%
Operator 1,251 51.0% 1,490 53.0%
Total 2,452 100.0% 2,813 100.0%

Based on Gender

2024 2023
Gender
Total % Total %

Female 299 12.2% 419 14.9%

Male 2,153 87.8% 2,394 85.1%
Total 2,452 100.0% 2,813 100.0%

Based on Age

2024 2023
Age
Total % Total %

>56 64 2.6% 65 2.3%

47-55 397 16.2% 359 12.8%
40-46 515 21.0% 502 17.8%
33-39 708 28.9% 687 24.4%
26-32 608 24.8% 776 27.6%
<25 160 6.5% 424 15.1%
Total 2,452 100.0% 2,813 100.0%

Based on Level of Education

2024 2023
Education
Total % Total %

Doctorate 3 0.1% 4 0.1%

Master’s Degree 103 4.2% 100 3.6%

146 Annual Report 2024

 2024 2023
Education
Total % Total %

Bachelor’s Degree 977 39.8% 912 32.4%

Diploma 194 7.9% 202 7.2%
Senior High School 874 35.6% 1,334 47.4%
Junior High School 83 3.4% 82 2.9%
Elementary School 11 0.4% 8 0.3%
Professional 186 7.6% 171 6.1
Others 21 0.9% - -
Total 2,452 100.0% 2,813 100.0%

Based on Employment Status

2024 2023
Status
Total % Total %

Permanent Employee 2,100 85.6% 2,011 71.5%

Contract Employee 352 14.4% 802 28.5%
Total 2,452 100.0% 2,813 100.0%

Annual Report 2024 147

 Business Support Functions

Integrated Human Resources Management and Development

AKR is committed to the development of a superior workforce AKR is committed to providing equal opportunities to all
to support the achievement of its vision and mission. HR individuals regardless of gender, ethnicity, race, or religion,
management and development involve an integrated as long as they meet the established qualifications. Each
strategic approach to ensure the availability of competent, recruitment stage is closely monitored to ensure objectivity
high-quality personnel who are ready to face industry and quality, building a competent team that contributes to the
challenges. The HR management and development strategy Company’s sustainable growth.
includes Manpower Planning, recruitment, education and
training, as well as employee remuneration and welfare The strategies to attract top talent include:
programs. 1. Transparency in communication, providing clear
information regarding work culture, job descriptions, and
Workforce Planning Strategy to Enhance Productivity and challenges associated with the offered positions.
Efficiency 2. Utilization of technology in recruitment, using online
recruitment platforms for tests and interviews.
Manpower Planning, or workforce planning, is a strategic 3. Collaboration with educational institutions, partnering
initiative to ensure the availability of human resources that with leading universities to source candidates for the
align with operational needs and corporate strategy. AKR Management Trainee Program.
systematically designs workforce requirements with short-, 4. Utilizing technology and social media, promoting job
medium-, and long-term approaches to effectively support vacancies in specific locations.
the achievement of strategic goals. 5. Using employee referrals, particularly for specific job
groups such as engineering and shipcrew positions.
The Company identifies workforce needs based on workload 6. Posting job openings internally for specific positions.
projections, organizational structure, and business growth,
with a planning budget prepared in line with business targets, The stages for new employees are as follows:
including calculating staffing needs for the upcoming 1. The Recruitment Department conducts the sourcing
year. This process involves evaluating current employee process by searching for candidates who meet the
productivity and setting future targets to ensure an efficient required qualifications through all available channels,
workforce. including e-sourcing via social media and the AKR website.
2. During the selection stage, candidates are invited to
In its implementation, the HR Department requires employees undergo a series of assessments, including psychological
to submit a request form detailing job descriptions, required assessments (evaluating intelligence, behavior, and work
qualifications, key performance indicators (KPIs), and attitude) and competency-based interviews conducted
workload calculations. This form must be approved by the in a panel format. The type and stages of assessment, as
HR Department and the relevant Division Head before being well as the panel interview process, are adjusted according
reviewed and authorized by the Business Unit head. The to the required job level. All assessment and interview
management team actively participates in the workforce processes are conducted digitally.
planning process, including evaluating replacements for 3. The Company also conducts document verification and
resigning employees, to ensure synergy and efficiency. reference checks for candidates who have passed the
selection stage. Once verification is complete, candidates
Developing Outstanding Talent through Recruitment proceed with a Medical Check Up. If the candidate is
Processes declared fit for work, they will then proceed with the job
offer and employment contract signing.
The recruitment process at AKR is designed to attract top
talent that aligns with the Company’s needs, categorized Future Workforce Recruitment
into technical skills, soft skills, competencies, and corporate
values. To ensure that all criteria are met, panel interviews The AKR Management Trainee (MT) Program is a strategic
are conducted by both direct supervisors and higher-level initiative aimed at identifying, developing, and preparing
managers with Additional psychological assessments and future leaders who will play an integral role in the Company’s
candidate reference checks to verify candidate competency. success. The program is designed as an accelerated pathway
to develop mid-level management within 1–3 years after
AKR utilizes digital platforms, such as career portals and completing MT.
professional social media, to expand its reach in sourcing
potential candidates. Additionally, partnership programs
with universities and educational institutions form part of the
recruitment strategy to attract young, high-potential talent.

148 Annual Report 2024

The MT program is targeted at top graduates from leading As for mandatory external training, it is conducted by
public and private universities, equipping them with external parties that collaborate with Training Institutions or
comprehensive knowledge about AKR. MT participants Professional Certification Bodies for the implementation of
receive both technical and non-technical training, covering training and certification exams. Certificates from external
an overview of AKR, business processes, product knowledge, training programs are issued by relevant institutions such as
and business operations. They undergo intensive training, the Ministry of Land and Sea Transportation and the National
mentorship from senior executives, and real-world challenges Professional Certification Agency (BNSP). These certifications
to prepare them for future leadership positions. are necessary to ensure that personnel who undergo them
meet nationally recognized competency standards. Some
The MT training program consists of both classroom and on- examples of external certification training include Loading
the-job training, supervised by Directors or Division Heads Master, Fire Fighting, Basic First Aid, IMDG Code, General
to ensure the highest learning standards. MT participants are Occupational Health & Safety Expert, and others.
also assigned special projects to deepen their understanding
of Standard Operating Procedures (SOPs) and corporate In addition to technical training programs, the Company also
targets. provides specialized training for leadership competency
for employees at the Division Head and Department Head
In 2024, AKR launched the MT program in two batches, in levels. Determination of other training is decided by the Board
January and September. The program has expanded within of Directors in accordance with the talent development
AKR and its business units, aligning with corporate needs. A program.
total of 34 participants were recruited from 20,154 applicants.
The HR Department categorizes training programs into several
Education and Training categories, including:
1. Leadership and Soft Skills Training
Education and training at AKR aim to enhance employee skills This training program is intended for individuals at
and knowledge to ensure maximum contribution to achieving the Middle Management and Lower Management
the Company's goals. The Company continuously invests in levels. The objective of this program is to support the
development programs that enrich technical knowledge, development plans of individuals in their specific roles
improve soft skills, and strengthen leadership at all levels. and responsibilities. This soft skills training covers several
areas, including Leadership, Problem Solving & Decision
The determination of training programs for employees is Making, Business Presentation Skills, Time Management,
carried out in collaboration with the relevant Department Communication, and Building Effective Interpersonal Skills.
Heads and is outlined in a training matrix according to each
employee's job role or function. This includes mandatory 2. Business Skills Training for Middle Management
training programs, both developed internally and those This training aims to equip middle management employees
conducted externally in collaboration with third parties with the knowledge and skills required to support their roles
working with AKR. and functions within the Company. The need for business
skills training is determined in the meeting. Specific training
Training Mandatory Internal (TMI) and Training Mandatory programs under this category include Business Acumen,
External (TME) include safety and technical processes. Risk Management, Project Management, and Financial
Manadatory Internal Training is conducted for all employees Modelling for Feasibility Studies.
working in Terminals, Warehouses, Retail Operations, and Land
Transport. 3. Technical Training
This training program is designed to provide employees
Internal training includes Safety for Operational Tank with technical knowledge and skills in operational areas
Terminals, Safety for Operational Warehousing, Retail such as Tank Terminals, Warehouses, Land Transport,
Operations, Permits to Work, Lockout/Tagout Procedures, Retail Operations, Distribution Planning, and SHE (Safety,
Hazard Identification, Risk Assessment and Determining Health, and Environment). This training is delivered by
Control, and Incident Investigation. Additional training related internal trainers and is intended for all employees in
to land transportation such as Vehicle Knowledge, Safety Data operational roles.
Sheets, Loading and Unloading Processes, and Defensive
Driving Courses, is also part of the mandatory technical 4. Mandatory Certification
training. This program consists of training and certification programs
conducted by external institutions to meet national
Internal training aims to improve employee competency in competency certification standards in specific fields.
terms of skills and knowledge. Training is updated every one to
two years to ensure employees receive the latest knowledge An annual training budget based on employee competency
regarding SOPs and working instructions. development and the Company’s strategic objectives is
allocated and in 2024, the Company invested Rp1,315,852,074,
an increase from Rp1,187,257,448 in the previous year.

Annual Report 2024 149

 Business Support Functions

Various training and competency development programs The evaluation conducted by the direct supervisor and
conducted by accredited institutions have been HR Department serves as the basis for decision-making
implemented, both internal and external, and specifically regarding permanent employment status.
designed according to employee job levels to include skill
development programs relevant to each position. Special Training for New Drivers

New Employee Training AKR has a dedicated onboarding program for new drivers,
which lasts one month and is designed to provide fundamental
AKR conducts a series of specialized training programs for training. This program is part of the Company’s efforts to
new employees to accelerate their adaptation to the work prepare new drivers with knowledge about the assigned
environment and corporate culture. Through the Onboarding truck units, the products being transported, product handling
Program, the Company encourages each employee to techniques, and defensive driving techniques.
take the initiative in acquiring new training and knowledge,
particularly about AKR. The successful application of these techniques is verified
through in-cabin assessments, which evaluate the new
The AKR onboarding program or the New Employee driver’s performance while operating a vehicle over a specific
Orientation Program (NEOP), is designed to help employees distance. If the in-cabin assessment meets the required
adapt to the work environment, understand the Company's standards, the new driver is allowed to proceed with solo
culture, and perform effectively. Topics include the AKR driving, where they independently deliver products to
Company Profile, Vision and Mission, the 5K concept, customers.
Corporate Values, Human Resource Information System
(HRIS) administration, Company Regulations, Whistle Blowing The assessment process includes the evaluation of several
System (WBS), Basic Safety Training in the workplace, IT key aspects, such as:
Security, and other essential information for new employees. • Application of Defensive Driving Techniques
• Fundamental Driving Principles: Observe, Understand,
In addition, new AKR employees participate in the On the Job and Comply
Training Program, a three-month learning journey aimed at • Traffic Signs Compliance
preparing them to understand and achieve Key Performance • Proper and Safe Driving Knowledge
Indicators (KPI) and primary targets. This provides a structured
approach to key role-specific knowledge, learning targets
during the probation period, and performance expectations Training Duration (in
Position Level
to be met. hours)

The learning objectives in the Onboarding Program include Middle Management 416
mandatory technical training, which must be completed Lower Management 2,900
according to the training matrix for each position. This training
helps new employees understand business processes, Staff 2,134
workflows, Standard Operating Procedures (SOPs), and Operator 9,376
Working Instructions (WIs) within their work environment.
With a comprehensive understanding of their tasks, new Total 14,826
employees are expected to meet the performance targets set *) Only Includes AKR BU
for them.

During the probation period, the Recruitment and Training

Department conducts monthly reviews to monitor the
learning progress of the Onboarding Program based
on the established work targets. These reviews serve as
cross-checks on the achievement of learning objectives
and job performance within the designated timeline. If
deviations from the plan are identified, corrective actions
are immediately implemented to ensure adherence to the
planned learning path.

As part of NEOP, new employees are also provided with

detailed explanations of job responsibilities, performance
indicators, and on-the-job training to ensure they can quickly
contribute to the Company. At the end of the probation
period, every new employee must submit a Probation Report,
which is evaluated by their direct supervisor and management.

150 Annual Report 2024

 Employee Performance Assessment

An objective, transparent, and structured performance At year end, employee performance achievements are
assessment system ensures that every employee has a measured and objectively evaluated and serve as the basis
clear understanding of expectations and work targets. The for decision-making regarding reward programs, career
performance evaluation process is conducted periodically development, training initiatives, and retention strategies. This
through the Key Performance Indicator (KPI) mechanism, process not only supports employee growth and well-being
which is aligned with the Company’s strategic objectives. but also the achievement of the Company’s overall objectives.
Performance monitoring is carried out by supervisors based
on the KPIs established at the beginning of each year.

Work Target Determination (KPI)

Every employee is required to understand their Individual Work Targets, which
include Performance and Competency metrics, as well as other assigned priorities
relevant to their role.

Performance Monitoring (by Supervisor)

Supervisors conduct regular monitoring of their subordinates’ work to measure
performance achievements based on the predefined KPI metrics.

Performance Evaluation
At the middle and end of the year, employees' final performance outcomes are
evaluated to assess their work achievements to assess each employee's work results
for further processing by HR.

Internalization of Corporate Values

Internalization of core values in every aspect of operations 2. Performance Appraisal

and workplace culture is conducted through various training In 2024, the Company’s core values formed the key
programs, internal communications, and employee activities assessment criteria in the employee performance
designed to strengthen understanding and application of the evaluation, allowing employees to understand their direct
values in every action and decision. contribution to the achievement of organizational goals,
and ensuring alignment with AKR’s values.
Several internalization programs were implemented in 2024, 3. Management Communication
including: Through direct interactions with employees, management
1. Newsletter can effectively communicate the Company’s vision,
This aims to instil corporate values among employees mission, and core values, whether through a Director’s
through direct communication with employees, presenting Message or other alternative.
themes that reflect core values such as Integrity,
Collaboration, and Reward for Performance, among
others. These are delivered in the form of articles, stories,
or interviews with members of the Board of Directors
and Department Heads, and also provide information on
employee training, development programs, and Corporate
Social Responsibility (CSR) initiatives, to foster a deeper
understanding and implementation of the values.

Annual Report 2024 151

 Business Support Functions

Industrial Relations

Harmonious, dynamic, and fair industrial relations with all Remuneration and Employee Welfare Program
employees are a fundamental expectation when creating a
conducive work environment and AKR actively complies with To enhance employee welfare, the Company is fully
applicable labor regulations prioritizing open dialogue to committed to providing fair and competitive rewards,
ensure effective communication between management and where an employee’s rights are fulfilled in compliance with
employees. the applicable laws and regulations that cover competitive
salaries, performance-based incentives, employment
The Company involves employees in discussions on corporate benefits, and other entitlements.
policies and implements transparent procedures for resolving
employment-related issues, fostering a work environment that Employment benefits and remuneration across the Company
supports employee well-being and sustainable productivity. and its subsidiaries are fair and equal, with a 1:1 ratio for both
male and female employees, where the remuneration amount
The Company and its employees are an integrated entity, is determined through a structured process that considers
requiring healthy industrial relations, which has resulted in a competency, experience, performance achievements, and
workplace culture built on mutual trust, respect, and shared responsibilities.
dedication in achieving objectives. Various employee welfare
programs, including occupational health and safety initiatives, AKR also provides health programs and various employee
competitive remuneration packages, and other employee welfare activities to improve the overall quality of life. Through
benefits have further strengthened relations. this approach, a work environment that is not only productive
but also promotes well-being is created, enabling motivated
employees to contribute optimally to the Company’s growth.

152 Annual Report 2024

The Company has implemented several strategic initiatives training, and the enforcement of standard procedures to
to promote employee welfare in terms of remuneration, identify and mitigate workplace risks. Additionally, AKR
promotions, and career development, including: has introduced screening tests to detect diabetes risks
1. The Company adheres to government regulations among high-risk employees to support proactive health
regarding minimum wages, overtime calculations, management.
and employee welfare provisions, including BPJS
Ketenagakerjaan and BPJS Kesehatan. AKR strives to create a safe and comfortable work environment
2. The Company has established a grading system for by adhering to the highest Occupational Health and Safety
employees and adjusts competitive salary levels by (K3) standards, resulting in zero workplace accidents and the
considering inflation and economic growth. absence of work-related illnesses within the Company.
3. Wage adjustments and reward allocations are determined
based on the Company’s financial condition and individual Company drivers play a vital role in supporting product
employee performance. distribution and logistics, ensuring that goods are transported
4. The Company provides opportunities for job rotation safely and on time while maintaining the optimal condition
and expanded responsibilities to enhance employee of vehicles and cargo. To enhance workplace safety, AKR
experience and professional development. requires all drivers to undergo daily fit-to-work assessments
5. The Company conducts training and skills development before starting their duties. This measure ensures that drivers
programs to improve employee competencies. are in optimal physical condition and ready to work safely,
6. Regular performance evaluations are conducted, and thereby protecting employees, the environment, and the
employees who meet the required criteria are given products being transported. The driving readiness campaign
promotion opportunities. and tips/tricks for avoiding unsafe working conditions are
consistently implemented.
Occupational Health and Safety Program
Additionally, the Company actively provides health education
AKR is committed to a work culture that prioritizes employee to all employees through various media, includes the
well-being by providing adequate healthcare facilities and publication of a health newsletter, released quarterly. The
ensuring that all employees understand and comply with Company also places health posters in various work areas
applicable safety regulations, guaranteeing a safe, healthy, to raise employee awareness of the importance of health.
and hazard-free work environment.

The Company implements various occupational health and

safety initiatives, including annual Medical Check-Ups (MCU),
health campaigns led by professional doctors, routine safety

Annual Report 2024 153

 06
Corporate
Governance
 Corporate Governance

AKR’s ability to adapt and evolve is supported by the

Company’s consistent approach to governance. This
stability helps AKR navigate industry changes while
maintaining steady performance across different phases.

Corporate Governance
Achievements
AKR has consistently maintained strong financial
performance through various economic cycles
AKR remains a key constituent of major ESG
and political dynamics, achieving a compound
indices on the Indonesia Stock Exchange.
annual growth rate (CAGR) of 16% in net profit
since 2005

Investor confidence in AKR shares is evident in

the rise in market capitalization in 2024, with JIIPE Gresik Special Economic Zone (SEZ)
an average share price increase of 8% and a maintained strong investor interest in 2024, and
significant growth in local investors, totaling was recognized as the best SEZ.
25,247

AKR’s stock trading activities have remained

orderly, with no regulatory or exchange warnings
issued to the Company.

ESG Sustainalytics remains at Medium Risk with a score of 20,3

ESG S&P Global score has increased to 37, staying above the industry average

AKR continues to be included in key stock indices and ESG constituents, including:

MSCI SMALL
Index LQ 45 IDX 30 Investor 33 Bisnis 27
CAPS INDEX

TOP 8 IDX ESG Star ESG Quality 45

IDX Sharia Growth Kompas100 Pefindo I-Grade 30
Listed Company IDX KEHATI

ESG Sector Leaders IDX LQ45 Low

IDX KEHATI Carbon Leaders

156 Annual Report 2024

Awards:

1 Top 20 GCG Awards 2024 6 TOP 3 Best Biodiversity Disclosure

The Iconomics 7th Global Conference ESG Management & Sustainability

2 Outstanding Achievement in Sustainability & Governance 7 The Best Logistics Company in Oil and Gas Distribution
SPEx2 Award 2024 Category
Bisnis Indonesia Logistics Awards 2024
3 Top 50 Big Capitalization Public Listed Company 2024
IICD 8 The Best Business Entity in Petroleum - Large Category
BPH Migas Awards 2024
4 The Best Indonesia Annual Report Award 2024
Gold Predicate (Excellent) 9 Indonesia Biggest Companies 2024
by Economic Review Fortune Indonesia 100

5 The Best Execution Winner in Distribution & Logistic

Industry
SPEX2 Award 2024

1 2 3

4 5 6

7 8 9

Annual Report 2024 157

 Corporate Governance

AKR upholds high standards of corporate governance, b. Approval of the proposed use of net profit for the fiscal
ensuring transparency, accountability, and sustainability year ending December 31, 2023.
across all operational areas, thereby creating value for c. Appointment of an Independent Public Accounting
shareholders, employees, customers, suppliers, business Firm to audit the Company’s financial statements for the
partners, regulators, and the wider community. fiscal year ending December 31, 2024.
d. Changes in the composition of the Board of
In response to increasingly complex business and industry Commissioners.
dynamics, AKR remains committed to continuously enhancing e. Determination of remuneration and other allowances
its structure, processes, and mechanisms. The Company for members of the Board of Commissioners, as well as
regularly reviews and updates its corporate governance salaries and other benefits for the Board of Directors.
practices to ensure compliance with national and international f. Approval of the plan to transfer part of the Company’s
standards, including POJK No. 21/POJK.04/2015 on Corporate treasury shares through the establishment and
Governance for Public Companies, the 2021 Indonesia implementation of the Management and Employee
General Guidelines on Corporate Governance (PUGKI) issued Stock Option Program (MESOP).
by the National Committee on Governance Policy (KNKG), 2. Dividend distribution conducted twice, on May 27, 2024,
and the ASEAN Corporate Governance Scorecard (revised in for the 2023 dividend and on August 15, 2024, for the
October 2023). interim 2024 dividend, with a payout ratio exceeding 50%.
3. Updating the share ownership reporting policy for AKRA
AKR demonstrates its commitment to corporate governance shares or any changes in ownership by the Board of
through its Vision and Mission, Corporate Values, Guidelines Directors and members of the Board of Commissioners on
and Code of Conduct for the Board of Commissioners August 5, 2024, in accordance with OJK Regulation No. 4 of
and Directors, Charters for Supporting Committees, 2024, which shortens the reporting period for transactions
Integrity Pact Declaration, Code of Ethics and Conduct, from 10 calendar days to 3 working days.
and other governance policies. Furthermore, the Company 4. Issuance of the Sustainable Procurement Policy.
has integrated sustainability principles into its business 5. Issuance of the Anti-Corruption Protection Policy.
operations, aligning with Environmental, Social, and 6. Implementation of a company-wide Code of Ethics
Governance (ESG) aspects. awareness campaign, covering all AKR BU branches,
followed by the signing of an Integrity Pact by 1,654
Corporate Governance Activities in 2024: employees.
1. Holding the Annual General Meeting of Shareholders
(AGMS) on April 29, 2024, and approving the following:
a. Approval and ratification of the Board of Directors'
report on the Company's performance and financial
administration for the fiscal year ending December
31, 2023.

Commitment to Strengthening Corporate

Governance
AKR is committed to strengthening corporate governance ensures timely dissemination of relevant information to
as a foundation for sustainable growth and operational external stakeholders, fostering transparency and alignment
excellence. As a leading logistics and supply chain service with corporate objectives.
provider, the Company plays a vital role in driving Indonesia’s
economy by facilitating the trade of essential products across Corporate governance is integral to AKR’s sustainability
various industries. AKR is dedicated to delivering added value, strategy, ensuring ethical business conduct and
meeting customer needs, acting as a strategic partner for accountability at all levels of the organization. Employees
suppliers, ensuring regulatory compliance, and generating recognize corporate governance as a key driver of operational
benefits for shareholders and stakeholders. excellence and long-term value creation. To uphold best
practices, AKR ensures that each governing body performs its
The Corporate Secretary holds a critical role in maintaining duties in accordance with corporate policies and applicable
transparency and compliance. This department is responsible regulations, guided by ethical principles, integrity, and a
for communicating regulatory and business-related commitment to protecting stakeholder rights.
information to the Company’s governing bodies. As regulatory
and corporate developments arise, the Corporate Secretary

158 Annual Report 2024

 Foundations of Corporate Governance

AKR implements corporate governance based on and guided b. Financial Services Authority (OJK) Regulation No. 21/
by various applicable regulations and provisions, including: POJK.04/2015 on the Implementation of Corporate
1. Corporate Structure & Shareholder Rights: Governance Guidelines for Public Companies
a. Law of the Republic of Indonesia No. 40 of 2007 on 3. Governance Best Practices & Regional Standards:
Limited Liability Companies a. Indonesia’s General Guidelines on Corporate
b. Law of the Republic of Indonesia No. 8 of 1995 on Governance (PUGKI) 2021, issued by the National
Capital Markets Committee on Governance Policy (KNKG)
c. OJK Regulation No. 32/POJK.04/2014 on the b. ASEAN Corporate Governance Scorecard (ACGS),
Planning and Implementation of General Meetings of issued by the ASEAN Capital Market Forum (ACMF)
Shareholders for Public Companies (POJK 32/2014) c. Indonesia Corporate Governance Roadmap, issued by
2. Board Governance & Oversight: the Financial Services Authority (OJK)
a. OJK Regulation No. 33/POJK.04/2014 on the Board of
Directors and Board of Commissioners of Issuers and
Public Companies

Principles of Corporate Governance Implementation

AKR continues to strengthen its commitment to consistently The Company continuously evaluates developments in
and comprehensively implementing corporate governance corporate governance practices as part of its commitment to
principles based on the 2021 Indonesia General Guidelines on innovation and the continuous improvement of governance
Corporate Governance (PUGKI 2021). As an actualization of implementation within AKR. Corporate governance
the principles of Transparency, Accountability, Responsibility, implementation is built upon four key pillars, namely:
Independence, and Fairness, PUGKI 2021 serves as an update
to PUGKI 2019, aimed at fostering an internal governance
culture within corporations.

Ethical Conduct Accountability Transparency Sustainability

These principles guide the Company’s governance framework and reinforce its dedication to ethical and responsible business
practices.

Annual Report 2024 159

 Corporate Governance

Key Principles and Implementation Guidelines

Principles Explanation Implementation Guidelines

Ethical In conducting activities, the Company upholds • The Company consistently upholds honesty,
Conduct honesty, treats all parties with respect, fulfills treating all parties with respect, fulfilling
commitments, and builds and maintains moral values commitments, and maintaining moral values
and trust. The Company considers the interests of and trust.
shareholders and other stakeholders based on the • It considers the interests of shareholders and
principles of fairness and equality and is managed other stakeholders based on the principles of
independently, ensuring that each corporate body fairness and equality.
operates without dominance or external intervention. • The Company is managed independently,
ensuring that each corporate body operates
without dominance or external intervention.
Accountability The Company is able to account for its performance The Company accounts for its performance in a
in a transparent and fair manner. It must be managed transparent and fair manner, aligning its interests while
properly, in a measurable way, and in line with considering the interests of Shareholders and other
corporate interests while considering the interests Stakeholders.
of shareholders and stakeholders. Accountability is
a necessary prerequisite for achieving sustainable
performance.
Transparancy To maintain objectivity in conducting business, • The Company provides material and relevant
the Company provides material and relevant information in a manner that is easily accessible
information in a manner that is easily accessible and and understandable for stakeholders.
understandable for stakeholders. The Company • The Company discloses matters required by
takes the initiative to disclose not only matters laws and regulations as well as other important
required by law and other regulations but also other information for shareholders and stakeholders.
important information that supports decision-making
by shareholders, creditors, and other stakeholders.
Sustainability The Company complies with laws and regulations The Company complies with regulations and fulfills
and is committed to fulfilling its responsibilities to its responsibilities to society and the environment,
society and the environment. It seeks to contribute ensuring long-term business sustainability and
to sustainable development by collaborating with all gaining recognition as a good corporate citizen.
relevant stakeholders to improve their well-being in
a manner that aligns with business interests and the
sustainable development agenda.

The Company has adopted eight corporate governance These principles are categorized into three groups:
principles that define the roles and responsibilities of the 1. The first three principles establish the management
Board of Directors and the Board of Commissioners. These and supervisory functions of the corporation, focusing
principles cover key aspects such as board composition and on the roles of the Board of Directors and the Board of
remuneration, the working relationship between the Board of Commissioners.
Directors and the Board of Commissioners, ethical conduct, 2. The fourth, fifth, and sixth principles govern the processes
risk management, internal control and compliance, disclosure and outcomes overseen by the Board of Directors and the
and transparency, as well as the rights of shareholders and Board of Commissioners.
stakeholders. 3. The seventh and eighth principles address the interests
of resource owners, who are the primary beneficiaries of
corporate governance implementation.

160 Annual Report 2024

The following table explains the principles of corporate governance:

Definition Implementation Guidelines

Role and Responsibilities of the Board of Directors and the Board of Commissioners
The Board of Directors and the Board of Commissioners Principle 1 relates to the role and responsibilities of the Board
perform their roles and responsibilities independently to of Directors in managing the Company and the role and
create sustainable value in the best long-term interests of the responsibilities of the Board of Commissioners in overseeing
Company and shareholders while considering the interests of the management by the Board of Directors. Additionally, this
stakeholders. principle governs the performance evaluation of the Board
of Directors and the Board of Commissioners and their
respective members, the handling of conflicts of interest
involving members of both boards, and the enhancement of
their competencies.
Composition and Remuneration of the Board of Directors and the Board of Commissioners
Members of the Board of Directors and the Board of Principle 2 requires that the selection and appointment
Commissioners are selected and appointed in a manner of members of the Board of Directors and the Board of
that ensures the composition of the Board of Directors as Commissioners be conducted so that each has a composition
the management body and the Board of Commissioners of members with the knowledge, capabilities, and expertise
as the supervisory body is diverse. Each consists of necessary for their respective roles. Additionally, this principle
Directors and Commissioners who have the commitment, emphasizes the importance of a remuneration policy that
knowledge, capabilities, experience, and expertise required encourages members of the Board of Directors and the
to appropriately fulfill the management role of the Board Board of Commissioners to prioritize the Company’s long-
of Directors and the supervisory role of the Board of term interests based on the principle of sustainability. It
Commissioners. Remuneration is designed to effectively align also mandates the transparent and accountable disclosure
the interests of the members of the Board of Directors and of remuneration policies and information regarding the
the Board of Commissioners with the Company’s long-term compensation received by the Board of Directors and the
interests and the creation of sustainable value. Board of Commissioners.
Working Relationship Between the Board of Directors and the Board of Commissioners
The Board of Directors and the Board of Commissioners Principle 3 emphasizes the importance of a close, open,
maintain a close, open, constructive, professional, and constructive, professional, and mutually trusting working
mutually trusting working relationship in the best interests of relationship between the Board of Directors and the Board
the Company. of Commissioners in achieving the Company’s best interests.
This principle also regulates the necessity for the Board of
Commissioners to have access to complete information
and highlights the importance of members of the Board of
Directors and the Board of Commissioners understanding
the implications of the Company’s ownership structure on the
execution of their roles.
Ethical Conduct
The Company is committed to acting ethically and Principle 4 requires the Company to make periodic
responsibly, upholding organizational values and culture. statements regarding its commitment not only to complying
with applicable laws and regulations but also to acting
ethically and responsibly.
Risk Management, Internal Control, and Compliance
The Company implements corporate governance practices Principle 5 requires the Board of Directors to implement
integrated with internal control systems, risk management, governance, internal control systems, risk management, and
and an effective compliance management system to support compliance management systems in an integrated manner
the achievement of its goals, vision, mission, objectives, and as part of the Company's strategy, management tools, and
performance targets while conducting business with integrity. business practices.The Board of Commissioners monitors
and provides input that is integrated and executed by the
Board of Directors.
Disclosure and Transparency
The Company provides accurate and timely disclosure of all Principle 6 requires the Company to have a governance
material information about itself. framework that ensures accurate and timely disclosure
of all material information, including its financial condition
and performance, ownership structure, and corporate
governance.

Annual Report 2024 161

 Corporate Governance

Definition Implementation Guidelines

Shareholder Rights
The Company protects and facilitates shareholders' rights Principle 7 outlines the fulfillment of shareholders' rights
and ensures fair treatment, including minority shareholders. All and the fair treatment of shareholders, the implementation
shareholders have the opportunity to seek effective remedies of active collaboration between the Company and its
for any violations of their rights. shareholders, and the effective exercise of certain shareholder
rights through the General Meeting of Shareholders.
Stakeholder Rights
The Company recognizes the rights of stakeholders as Principle 8 outlines the role of the Board of Directors and the
established by applicable laws or agreements made with Board of Commissioners in integrating sustainability aspects
the Company and encourages active collaboration to into the Company's business model, engaging stakeholders,
create value, generate employment, and ensure financially and ensuring the protection of their rights. The Board of
sustainable business operations. Commissioners monitors the integration of these aspects as
carried out by the Board of Directors.

Corporate Governance Objectives

The Company's governance framework is designed to:

1. Maximize the potential and value of the Company and its people, enhancing competitiveness while upholding integrity and
credibility with all stakeholders.
2. Ensure professional, efficient, and effective management while strengthening the roles of corporate governance bodies.
3. Empower corporate governance bodies to make independent decisions based on ethical values and a strong commitment to
legal and regulatory compliance.
4. Instill a sense of responsibility among employees toward stakeholders, as well as the safety, health, and environmental
sustainability surrounding the Company.
5. Drive value creation across all operational areas and business sectors.

Corporate Governance Framework

The Company's governance framework is built on three key pillars: governance structure, governance processes, and governance
outcomes. These elements form the foundation for implementing corporate governance principles and driving best practices
across all Company activities.

Corporate Governance Structure Corporate Governance Process Corporate Governance Outcome

• Main Organs • Fulfillment of Shareholders' • Maximizing Company Value

• Supporting Organs Rights and Equal Treatment for All • Enhancing the Company's
• Infrastructure Shareholders Competitiveness
• Fulfillment of Stakeholders' Rights • Encouraging Transparent and
• Execution of Duties and Efficient Company Management
Responsibilities • Ensuring Corporate Organs Operate
• Transparency of the Company's with High Moral Standards and Legal
Financial and Non-Financial Compliance
Conditions • Regulating and Directing
Relationships Between
Corporate Organs
• Promoting Awareness of Corporate
Social Responsibility to Stakeholders
• Increasing Market Confidence
to Drive Investment and National
Economic Growth

162 Annual Report 2024

 Corporate Governance Structure

The Company's governance structure comprises the General 2. Board of Commissioners

Meeting of Shareholders (GMS), the Board of Commissioners, The Board of Commissioners is responsible for supervising
and the Board of Directors, in accordance with Law No. 40 of the Company's management and providing guidance and
2007 on Limited Liability Companies. These governing bodies recommendations to the Board of Directors, in accordance
play a crucial role in shaping the Company's vision, mission, with the Articles of Association.
and strategic direction. To assist in governance oversight, the Board of
Commissioners is supported by the following committees:
To support the effective implementation of corporate a. Audit Committee
governance principles, AKR has established supporting b. Nomination and Remuneration Committee
organs that ensure a structured and systematic approach
to governance. This framework helps each governing body 3. Board of Directors
clearly understand its roles and responsibilities as outlined in The Board of Directors is responsible for the Company’s
the Articles of Association and applicable regulations. overall management, decision-making, and operational
execution in line with its objectives. It holds full authority to
1. General Meeting of Shareholders (GMS) represent the Company in accordance with the provisions
The GMS is the highest decision-making body in the of the Articles of Association.
Company, holding authority over matters not delegated to Supporting Organs:
the Board of Directors or the Board of Commissioners, as a. Corporate Secretary
stipulated by law and the Articles of Association. b. Internal Audit
c. Investor Relations

Governance Structure

General Meeting of
Shareholders

Nomination and Remuneration

Committee

Board of Commissioners

ESG Committee Audit Committee

Board of Directors

Investor Relation Corporate Secretary Internal Audit

Governance Soft Structure The corporate governance policies established by AKR

include:
The existence of a governance structure must be supported 1. Articles of Association
by policy frameworks or a governance soft structure to 2. Board of Directors and Board of Commissioners Guidelines
ensure effective and well-directed implementation. As 3. Audit Committee Charter
policies and guidelines at AKR serve as a reference for all 4. Internal Audit Charter
Company personnel in carrying out operational activities, the 5. Nomination and Remuneration Committee Charter
Company has established policy frameworks that have been 6. Risk Management Policy
jointly agreed upon by the Board of Commissioners and the 7. Whistleblowing System & Anti-Corruption Policy
Board of Directors. These regulate the working relationships 8. Code of Ethics
of corporate organs in accordance with the the Articles of
Association and/or applicable laws and regulations.

Annual Report 2024 163

 Corporate Governance

Corporate Governance Mechanism

AKR has established a governance mechanism to ensure AKR promotes the strengthening of governance culture
harmony among all corporate organs where the supervisory internalization among all personnel as through the
function is carried out by the Board of Commissioners, implementation of policies an environment that supports the
supported by the Audit Committee and the Nomination and achievement of long-term goals is created.
Remuneration Committee. Meanwhile, the management
function is performed by the Board of Directors, assisted Governance implementation at AKR focuses on 3 (three) main
by the Internal Audit Unit, Corporate Secretary, and Investor areas, namely:
Relations.

Compliance Confidence Transparency

Compliance with Good Corporate Confidence in cultivating confident Transparency in upholding the
Governance principles in all aspects, attitude where the Company principle of transparency and
including the implementation of consistently delivers the best for all ensuring that investors receive the
Company policies. stakeholders. necessary information.

The Company is committed to upholding corporate governance principles through 2 (two) main approaches: the internalization of
governance values among all employees in every business process and the enhancement of information transparency for external
parties. The details of these two approaches are as follows:

Company Internalization External Exposure

• Procurement Procedure • Investor relations activities (quarterly report briefings,

• Employee Selection Procedure investor presentations, conferences, roadshows, and
• Acceptance Procedure special meetings attended by investors and analysts).
• Reporting Procedure • Annual public expose.
• Marketing Procedure • Disclosure of information to OJK and IDX.
• Regular updates on the Company website (www.akr.co.id).
• Periodic dissemination of information through news
releases to stakeholders

164 Annual Report 2024

Assessment of Corporate Governance
Implementation
AKR periodically assesses the implementation of corporate The corporate governance assessment is conducted using
governance as part of a checks and balances mechanism to two methods: self-assessment based on OJK regulations
measure the quality of governance practices. This assessment by the Company's internal team and an evaluation adopting
ensures that the Company complies with applicable the ASEAN Corporate Governance Scorecard (ACGS). These
regulations and business ethics standards. Additionally, methods utilize widely recognized parameters to ensure an
corporate governance assessment plays a role in building and objective and credible assessment.
maintaining stakeholder trust.

Self-Assessment

This follows the provisions of Financial Services Relevant data and information are collected for the self-
Authority Regulation (POJK) No. 21/POJK.04/2015 on the assessment which involves the Corporate Secretary and
Implementation of Corporate Governance Guidelines Investor Relations to ensure effectiveness and efficiency.
for Public Companies. The assessment is conducted Findings from the assessment serve as a benchmark to follow
systematically and comprehensively through various aspects, up on the various recommendations to improve governance
including governance structure, governance process, and quality.
governance outcome.
1. Governance Structure A review of findings and follow-up actions from both internal
The Company evaluates the adequacy of its governance and external parties is conducted, including the Board of
structure and infrastructure in producing outcomes that Commissioners, Board of Directors, Corporate Secretary,
align with stakeholder expectations. Human Resources, Internal Audit, and the ESG Committee.
2. Governance Process The Company also considers findings from shareholders,
The Company assesses the effectiveness of governance rating agencies, the public, media, and other stakeholders.
implementation processes, supported by adequate
structures and infrastructure, to ensure results that meet Recommendations and follow-up actions from the 2024 self-
stakeholder expectations. assessment:
3. Governance Outcome
The Company reviews the quality of governance outcomes
to determine whether the governance structure and
processes have been effectively implemented and align
with stakeholder expectations.

Recommendations Follow-up Actions

Ensuring the reporting of share ownership by the Board of Updating the share ownership reporting policy to align with
Directors and Board of Commissioners complies with the the reporting requirements under POJK No. 4 of 2024 and the
latest POJK regulations. ASEAN Scorecard.
Encouraging all AKR personnel to actively participate in
Socializing the whistleblowing system to ensure accessibility
monitoring the implementation of corporate governance
for all Company stakeholders.
within the Company.
Providing updates to the Board of Directors and Board
Ensuring that the Board of Directors and Board of
of Commissioners on the latest corporate governance
Commissioners consistently uphold corporate governance
guidelines and sustainability standards referenced by
principles.
investors and shareholders.

External Assessment

The external assessment conducted by AKR is based on and Development (OECD) principles. ACGS is a corporate
the ASEAN Corporate Governance Scorecard (ACGS), governance assessment tool developed by the ASEAN Capital
which adopts governance practice evaluation standards Market Forum (ACMF).
aligned with the Organization for Economic Cooperation

Annual Report 2024 165

 Corporate Governance

AKR's most recent ACGS assessment was conducted in 2021 For the 2024 fiscal year, the Company has not yet conducted
by the Indonesian Institute for Corporate Directorship (IICD) a new assessment based on ACGS criteria. However, the
and PT RSM Indonesia Konsultan. The assessment was based Company remains committed to maintaining its previous
on publicly available information, primarily the 2021 Annual assessment results by considering all evaluated aspects and
Report and the Company website. The results indicated that continuously improving each parameter to ensure optimal
the Company's corporate governance practices exceeded corporate governance implementation.
the minimum compliance requirements and had adopted
some international standards recommended by ACGS. AKR
achieved a total score of 84.45 (Level 3: Good), which was
significantly above the BigCap100 average score of 73.63 and
the mid-cap average score of 65.38 for ACGS 2021.

General Meeting of
Shareholders
The General Meeting of Shareholders (GMS) is the highest The interests of minority shareholders are always considered,
governing body within AKR’s corporate governance structure. both in decision-making and in voicing constructive ideas for
It serves as a platform for shareholders to exercise their the Company. To support this, the Company has a mechanism
rights and authority beyond those granted to the Board of that involves Independent Commissioners, who do not
Commissioners and the Board of Directors, within the limits represent the interests of any specific majority shareholders.
set by laws and the Company's Articles of Association. The The GMS is conducted in compliance with Law No. 40 of
GMS functions as a forum for reporting the accountability 2007 on Limited Liability Companies, OJK Regulation No.
of the Board of Commissioners and the Board of Directors 15/POJK.04/2020 on the Planning and Implementation of
regarding Company management, amending the Articles of General Meetings of Shareholders for Public Companies, and
Association, appointing and dismissing members of the Board the Company's Articles of Association.
of Directors and/or Board of Commissioners, determining the
distribution of management duties and authority among the The GMS is held based on Company provisions and Articles of
Board of Directors, and other corporate matters. Association, which include:
1. Annual GMS, held once every year.
Shareholders participating in the GMS have the right to decide 2. Extraordinary GMS, conducted as needed upon the
on material matters related to the Company’s sustainability, request of the Board of Directors based on a written
express their opinions, and receive relevant Company request from the Board of Commissioners or shareholders.
information. Decision-making in the GMS is conducted fairly
and transparently, either through deliberation or a voting To enhance shareholder engagement and ensure
mechanism involving attending shareholders or their legal transparency, the Investor Relations Department actively
representatives, in accordance with applicable regulations. sends invitations to encourage shareholder participation in
the GMS. Additionally, Investor Relations collaborates with
third-party ISS Research to gather preliminary shareholder
votes.

Authority of the General Meeting of Shareholders

The General Meeting of Shareholders (GMS) is the primary 5. Granting necessary approvals or decisions to safeguard
governing body with authority that includes: the Company's business interests in the short and long
1. Appointing, dismissing, and/or replacing members of the term, in accordance with applicable laws and/or the
Board of Directors, considering recommendations from Articles of Association.
the Board of Commissioners and/or the Nomination and 6. Approving the determination of salaries and other
Remuneration Committee. benefits for members of the Board of Directors, as well
2. Appointing, dismissing, and/or replacing members of the as honorariums and other allowances for members of the
Board of Commissioners, considering recommendations Board of Commissioners.
from the Nomination and Remuneration Committee. 7. Appointing an Independent Public Accounting Firm to
3. Approving the Annual Report, including the ratification of audit the Company's financial statements.
Financial Statements and the supervisory duties of the 8. Approving amendments to the Company's Articles of
Board of Commissioners, in accordance with applicable Association in accordance with applicable laws.
laws and/or the Company's Articles of Association. 9. Making decisions through an open, fair, and accountable
4. Approving the determination of the Company's net profit process.
allocation. 10.Implementing Good Corporate Governance in accordance
with its authority and responsibilities.

166 Annual Report 2024

 Procedures for Holding the General Meeting of Shareholders

The procedure for holding the General Meeting of b. Decisions are made through deliberation to reach a
Shareholders (GMS) is regulated under Article 11 of the consensus. If a consensus cannot be reached, decisions
Company's Articles of Association and follows OJK Regulation are made through a voting process as stipulated
No. 15/POJK.04/2020 on the Planning and Implementation of in the Company’s Articles of Association (Article 11,
General Meetings of Shareholders for Public Companies. paragraph 2).
1. Notification of the planned meeting is sent to OJK through c. Decisions in the Annual General Meeting of Shareholders
an official letter from the Company. are valid if approved by more than one-half of the
2. The announcement and invitation for the GMS are published total shares with voting rights present in the meeting
on the Indonesia Stock Exchange website, eASY.KSEI, and (Article 11, paragraph 3).
the Company’s website. d. Each share entitles its owner to cast one vote (Article
3. The Company does not send individual invitations to 11, paragraph 14). If a shareholder owns more than one
shareholders; therefore, the published announcement share, they are only required to vote once, representing
serves as the official invitation. all their shares.
4. Shareholders eligible to attend or be represented at the e. Shareholders with voting rights who attend but
GMS include: abstain (do not vote) are considered to have cast the
a. For shares not in collective custody: Shareholders same vote as the majority of shareholders who vote
or their authorized representatives whose names (Article 11, paragraph 18).
are legally recorded in the Company’s Shareholder 9. Procedures for shareholders to submit questions and/or
Register. opinions:
b. b. For shares held in collective custody: Shareholders a. Shareholders or their proxies attending physically who
or their authorized representatives whose names are wish to ask questions should raise their hands to receive
recorded in the securities account at PT Kustodian a question form from meeting staff.
Sentral Efek Indonesia (KSEI). Securities account b. Questions must be submitted in writing, including the
holders in KSEI collective custody must provide a shareholder’s name and the number of shares owned.
shareholder list to KSEI to obtain a Written Confirmation c. Shareholders or proxies participating via media
for GMS (KTUR). conferencing can submit questions through the chat
5. Shareholder participation in the meeting can be done box in the "Electronic Opinions" section of the eASY.
through: KSEI application, including their name, the number of
a. Physical attendance at the meeting. shares owned/represented, the relevant agenda item,
b. Electronic attendance through the eASY.KSEI and their question.
application. d. Shareholders or their proxies watching the meeting via
6. The Company ensures that shareholders who are unable the GMS broadcast can use the "raise hand" feature to
or choose not to attend the meeting can exercise their ask questions or express opinions during the discussion
rights by: session for each agenda item.
a. Authorizing an electronic proxy ("e-Proxy") through the e. Questions must be relevant to the meeting agenda,
eASY.KSEI platform provided by PT Kustodian Sentral concise, clear, and directly related to the issue at hand.
Efek Indonesia (KSEI), accessible via https://easy.ksei. f. The Chairman of the Meeting will respond to questions
co.id. The e-Proxy mechanism is available from the date one by one and may seek assistance from members
of the meeting invitation until 12:00 WIB on one working of the Board of Directors or other relevant parties to
day before the meeting. provide answers.
b. Granting power of attorney to an independent g. To ensure the smooth conduct of the meeting and
party appointed by the Company or a designated efficient time management, the Chairman of the
representative of the shareholder by completing a Meeting has the authority to limit the time allocated for
Power of Attorney form uploaded on the Company’s questions and responses for each agenda item.
website. This form allows the appointed proxy to attend 10.Voting procedures:
and vote on each agenda item, following the terms a. A voting process will be conducted for each agenda
specified in the meeting invitation. item to make decisions.
7. Before entering the meeting room, shareholders or their b. Voting takes place after the discussion of each
proxies attending physically must register on the meeting agenda item, the proposal of resolutions, and upon the
day between 07:00 and 09:30 by submitting a photocopy Chairman of the Meeting’s instruction for shareholders
of their Collective Share Certificate and a photocopy of or their proxies to cast their votes. This process is
their Identification Card (KTP) or other official identification. supervised by a Notary and the Share Registrar as
8. The quorum and decision-making mechanisms for meeting independent parties.
agenda items are as follows: c. Electronic voting is conducted through the eASY.KSEI
a. The Annual General Meeting of Shareholders may application under the E-Meeting Hall menu, sub-menu
proceed if attended by shareholders representing Live Broadcasting.
more than one-half of the total shares with voting rights d. The Company sets a maximum electronic voting time of
present or represented. (Article 11, paragraph 3 of the five minutes per agenda item.
Company’s Articles of Association). e. At the end of the voting process, the Notary announces
the results of the vote for each agenda item.

Annual Report 2024 167

 Corporate Governance

Shareholder Rights in the General Meeting of Shareholders

The Company has established shareholders' rights in the 3. Shareholders or their proxies have the right to ask questions
General Meeting of Shareholders (GMS) in accordance with and/or express opinions or responses regarding the GMS
applicable regulations as follows: agenda and other matters related to the agenda before a
1. Shareholders have the right to attend the GMS either in decision is made.
person or through a proxy. Shareholders eligible to attend 4. Shareholders have the right to vote in the GMS. Each share
the GMS are those whose names are recorded in the entitles its holder to cast one vote. If a shareholder owns
Company's shareholder register one working day before more than one share, they are required to vote only once,
the GMS invitation is issued. and their vote will represent all the shares they own or
2. Shareholders have the right to obtain information on the represent.
GMS agenda and related materials, provided that such
disclosure does not conflict with the Company's interests.

168 Annual Report 2024

Implementation of the 2024 General
Meeting of Shareholders
Annual General Meeting of Shareholders (AGMS)

AKR held its Annual General Meeting of Shareholders (AGMS) on April 29, 2024, in a hybrid format—both physical and online.
The meeting was attended by the Board of Commissioners, the Board of Directors, Shareholders/Shareholder Proxies, and
representatives from capital market supporting institutions/professions. The resolutions of the meeting were documented in
Deed No. 17, drawn up before Notary Aryanti Artisari, S.H., M.Kn., a Notary in Jakarta.

Process for the AGMS

Day/Date Monday, April 29, 2024

Time 10.11am to 12.02pm WIB
Location AKR Gallery West, Meeting Room Floor P2, Jl. Panjang No.5, Kebon Jeruk, West Jakarta
11530, Indonesia.
Attendance Board of Commissioners
Soegiarto Adikoesoemo* President Commissioner
Sofyan A. Djalil Commissioner
Mohamad Fauzi Maulana Ichsan Independent Commissioner

Directors
Haryanto Adikoesoemo President Director
Jimmy Tandyo Director
Bambang Soetiono Soedijanto* Director
Mery Sofi* Director
Suresh Vembu Director
Nery Polim Director
Termurti Tiban Director

*) Attended via teleconference through the Electronic General Meeting System eASY.KSEI.

Shareholders A total of 17,264,646,770 shares (87.472759%) were present at the meeting out
who attended of a total of 19,737,169,600 shares (total outstanding shares minus treasury stock
in person/by of 336,305,000 shares). This calculation is based on the Company's Shareholder
proxy Register as of April 4, 2024, at 4:00pm WIB.

Capital Market Supporting Institutions & Professionals:

1. Notary Aryanti Artisari, S.H., M.Kn. (Notary appointed by the Company to draft the
Minutes of the Meeting) from the Notary Office of Aryanti Artisari, S.H., M.Kn.
2. Mr. Harsoyo and Ms. LAgeny Lugina from PT Raya Saham Registra (Share Registrar
appointed by the Company).
3. Mr. Benyanto Suherman from the Public Accounting Firm "PURWANTONO,
SUNGKORO & SURJA" (a member firm of Ernst & Young Global Limited).
4. Legal Consultant, Mr. Iwan Setiawan, S.H. from Makes & Partners Law Firm.

Annual Report 2024 169

 Corporate Governance

Stages of the AGMS Implementation

Notification of AGMS to OJK March 13, 2024

The Company notified OJK of the meeting agenda on March 13, 2024, through letter
Number 022/L-AKR-CS/2024 regarding the Notification of the Annual General
Meeting of Shareholders of PT AKR Corporindo Tbk.
Announcement of AGMS March 20, 2024

• Conducted no later than 15 (fifteen) days from the date of the request for
the GMS.
• Published on the official website of the Indonesia Stock Exchange, eASY.KSEI,
and the Company's official website at www.akr.co.id.
Notification and Details of AGMS Agenda April 5, 2024

Conducted 21 (twenty-one) days before the execution of the GMS, excluding the
date of the notice and the date of the AGMS.
Implementation of AGMS April 29, 2024

Following the issuance of PT Kustodian Sentral Efek Indonesia (KSEI) letter No.
KSEI-4012/DIR/0521 dated May 31, 2021, regarding the Implementation of the
e-Proxy and e-Voting Modules on the eASY.KSEI Application along with the General
Meeting of Shareholders Broadcast, KSEI has provided the E-GMS platform for
conducting the GMS electronically. The meeting was held electronically using
the eASY.KSEI application, allowing the Company's Shareholders to attend the
meeting virtually through the eASY.KSEI platform.

Agenda Item 1

Agenda Item Approval and ratification of the Board of Directors' report on the Company's business operations and
financial management for the fiscal year ending December 31, 2023, as well as the approval and ratification
of the Company's Financial Statements, including the Balance Sheet and Profit and Loss Statement for the
fiscal year ending December 31, 2023, which have been audited by an Independent Public Accountant,
and approval of the Company's Annual Report, the Board of Commissioners' supervisory report for the
fiscal year ending December 31, 2023. Furthermore, granting full settlement and release of responsibility
(acquit et de charge) to all members of the Board of Directors and the Board of Commissioners for the
management and supervisory actions taken during the fiscal year ending December 31, 2023.
Voting Results Abstain Agree Disagree Total Agree
392.052.881 16.863.960.789 8.633.100 17.256.013.670
(2,270842%) (97,679153%) (0,050005%) (99,949996%)
AGMS Resolution 1. Approved the Company's Annual Report for the fiscal year ending December 31, 2023, which includes
the Board of Directors' report on the Company's business operations and financial administration, as
well as the Board of Commissioners' supervisory report for the fiscal year ending December 31, 2023.
2. Ratified the Company's Financial Statements for the 2023 fiscal year, which were audited by the Public
Accounting Firm "PURWANTONO, SUNGKORO & SURJA" (a member firm of Ernst & Young Global
Limited) with an "unqualified opinion in all material respects," as stated in the audit report dated March
20, 2024, Number 00252/2.1032/AU.1/05/0685-4/1/III/2024.
3. Granted full settlement and release of responsibility ("volledig acquit et de charge") to all members
of the Board of Directors and Board of Commissioners for the management and supervisory actions
carried out during the 2023 fiscal year, as long as such actions were related to business activities derived
from the Company's main operations and were reflected in the Annual Report and Financial Statements
for the fiscal year ending December 31, 2023.
Realization Implemented in 2024.

170 Annual Report 2024

 Agenda Item 2

Agenda Item Approval of the plan for the allocation of the Company's net profit for the fiscal year ending December 31,
2023.
Voting Results Abstain Agree Disagree Total Agree
218.096.688 17.046.549.982 17.264.646.670
100 (0,000001%)
(1,263256%) (98,736743%) (99,999999%)
AGMS Resolution 1. Approved the allocation of the net profit for the year attributable to owners of the parent entity,
amounting to Rp2,780,349,511,000.00, as follows:
a. Rp200,000,000.00 allocated to the reserve fund in accordance with Article 70 of the Indonesian
Company Law (UUPT) and Article 23 of the Company's Articles of Association.
b. A total of Rp2,467,146,200,000.00 was distributed to shareholders as cash dividends, representing
88.73% of Profit for the Year Attributable to Owners of the Parent Entity, after deducting the interim
dividends previously distributed twice to shareholders based on the following:
• Interim Dividend 1: Resolution of the Board of Directors Meeting dated 24 July 2023 amounting to
Rp986,858,480,000.00 or Rp50.00 per share, based on the number of Outstanding Shares at
that time.
• Interim Dividend 2: Resolution of the Board of Directors Meeting dated 23 October 2023
amounting to Rp493,429,240,000.00 or Rp25.00 per share, based on the number of
Outstanding Shares at that time.

As a result, the remaining dividend to be distributed to shareholders is Rp986,858,480,000.00, or

a maximum of Rp50.00 per share, based on the current total outstanding shares of 19,737,169,600,
after deducting 336,305,000 treasury shares.

The cash dividend payment will be executed with the determination of the recording date on May
14, 2024, at 4:00 PM WIB, while considering the cum and ex-dividend dates in accordance with
Indonesia Stock Exchange regulations. The Board of Directors is also authorized to further arrange
the dividend distribution process in compliance with applicable laws and regulations.
c. The remaining Rp313,003,311,000.00 will be recorded as retained earnings and used as the
Company’s working capital.

2. Authorized and empowered the Board of Directors to take all necessary actions related to the
implementation of the net profit allocation for the fiscal year ending December 31, 2023.
Realization Implemented in 2024.

Agenda Item 3

Agenda Item Appointment of an Independent Public Accounting Firm to audit the Company's financial statements for
the financial year ending on 31 December 2024.
Voting Results Abstain Agree Disagree Total Agree
218.096.688 15.555.907.360 1.490.642.722 15.774.004.048
(1,263256%) (90,102668%) (8,634076%) (91,365924%)
AGMS Resolution 1. Appointed the Public Accounting Firm Purwantono, Sungkoro & Surja (a member firm of Ernst & Young
Global Limited) to audit the Company's consolidated financial statements for the 2024 fiscal year
and authorized the Board of Commissioners to determine the honorarium and other requirements in
accordance with applicable regulations related to the appointment of the public accounting firm.
2. Granted authority and power to the Board of Commissioners to appoint a replacement Public
Accounting Firm to audit the Company's consolidated financial statements for the 2024 fiscal
year, including determining the honorarium and other requirements in accordance with applicable
regulations, in the event that the appointed Public Accounting Firm is unable or unwilling to fulfill its
duties for any reason.
Realization Implemented in 2024.

Annual Report 2024 171

 Corporate Governance

Agenda Item 4

Agenda Item Determination of remuneration for the Board of Commissioners and Board of Directors.
Voting Results Abstain Agree Disagree Total Agree
15.829.506.341 1.217.043.741 16.047.603.029
(91,687403%) (7,049341%) (92,950659%)
AGMS Resolution 1. Determined that all members of the Board of Commissioners will receive a maximum honorarium of
Rp390,000,000.00 (three hundred ninety million Rupiah) per month, paid 13 times per year, plus other
allowances. This remuneration is effective from April 29, 2023. Additionally, authority is granted to the
President Commissioner to determine the distribution of the honorarium among the members of the
Board of Commissioners, taking into account the recommendations of the Company's Nomination and
Remuneration Committee.
2. Delegated authority to the Board of Commissioners to determine the salaries and other allowances for
each member of the Board of Directors.
Realization Implemented in 2024

Agenda ke-5

Agenda Item Approval of the planned transfer of a portion of the Company’s repurchased shares (treasury shares)
through the establishment and implementation of a Management and Employee Stock Option Program
(MESOP), amounting to 156,500,000 shares or 0.78% of the issued and fully paid-up capital in the
Company.
Voting Results Abstain Agree Disagree Total Agree
290.171.688 13.669.479.360 3.304.995.722 13.959.651.048
(1,680728%) (979,176131%) (19,143141%) (80,856859%)
AGMS Resolution 1. Approved the plan to transfer a portion of the treasury shares, totaling 156,500,000 shares or 0.78%
of the Company’s issued and fully paid-up capital, through the Management and Employee Stock
Ownership Program (MESOP), including all matters related to the implementation of the MESOP.
2. Granted authority and power to the Directors serving on the Company's MESOP Committee to
determine the criteria, number of shares, price, implementation schedule, and other terms and
conditions deemed appropriate by the Board of Directors and/or the Board of Commissioners in
relation to the execution of the MESOP. The Directors are also authorized to take all necessary actions
regarding the program's implementation.
Realization Implemented in 2024.

172 Annual Report 2024

Implementation of
the 2023 AGMS
RUPS Tahunan

AKR held its Annual General Meeting of Shareholders (AGMS) on April 28, 2023, in a hybrid format – both physical and online,
attended by the Board of Commissioners, the Board of Directors, Shareholders/Shareholder Proxies, and representatives from
capital market supporting institutions/professions. The meeting resolutions were documented in Deed No. 46, created before
Notary Aulia Taufani, S.H., a Notary in Jakarta.

Process for the AGMS

Day/Date Friday, April 28, 2023

Time 09.14am 11.01am WIB
Location AKR Gallery West, Meeting Room Floor P2, Jl. Panjang No.5, Kebon Jeruk, West Jakarta
11530, Indonesia.
Attendance Board of Commissioners
Soegiarto Adikoesoemo* President Commissioner
I Nyoman Mastra Commissioner
Mohamad Fauzi Maulana Ichsan Independent Commissioner

Directors
Haryanto Adikoesoemo President Director
Jimmy Tandyo Director
Bambang Soetiono Soedijanto* Director
Mery Sofi* Director
Suresh Vembu Director
Nery Polim Director
Termurti Tiban Director

*) Attended via teleconference through the Electronic General Meeting System eASY.KSEI.

Shareholders A total of 16,693,420,654 shares (84.57859%) were present at the meeting out of
who attended a total of 19,737,169,600 shares (total outstanding shares minus treasury stock of
in person/by 336,305,000 shares).
proxy
This calculation is based on the Company's Shareholder Register as of April 5, 2023, at
4:00pm WIB.

Capital Market Supporting Institutions & Professionals:

1. Notary Aulia Tufani, S.H. (Notary appointed by the Company to draft the Minutes of
the Meeting) from the Notary Office of Aulia Tufani, S.H.
2. Mr. Sapto Budi and Ms. LAgeny Lugina from PT Raya Saham Registra (Share Registrar
appointed by the Company).
3. Mr. Benyanto Suherman from the Public Accounting Firm "PURWANTONO,
SUNGKORO & SURJA" (a member firm of Ernst & Young Global Limited).
4. Legal Consultant, Mr. Antonius Setianto, S.H., LL.M., from Makes & Partners Law
Firm.

Annual Report 2024 173

 Corporate Governance

Stages of the AGMS Implementation

Notification of AGMS to OJK March 14, 2023

The Company notified the Financial Services Authority (OJK) of the meeting agenda
through letter Number 009/L-AKR-CS/2023 regarding the Notification of the
Annual General Meeting of Shareholders of PT AKR Corporindo Tbk.
Announcement of AGMS March 21, 2023

• Conducted no later than 15 (fifteen) days from the date of the request for
the GMS.
• Published on the official website of the Indonesia Stock Exchange, eASY.KSEI,
and the Company’s official website at www.akr.co.id.
Notification and Details of AGMS Agenda April 6, 2023

Conducted 21 (twenty-one) days before the execution of the GMS, excluding the
date of the notice and the date of the AGMS.
Implementation of AGMS April 28, 2023

Following the issuance of PT Kustodian Sentral Efek Indonesia (KSEI) letter No.
KSEI-4012/DIR/0521 dated May 31, 2021, regarding the implementation of the
e-Proxy and e-Voting Modules on the eASY.KSEI Application along with the General
Meeting of Shareholders broadcast, KSEI provided the E-GMS platform for
conducting the GMS electronically. The meeting was held electronically using the
eASY.KSEI application, allowing the Company's shareholders to attend the meeting
electronically through the eASY.KSEI platform.

Agenda Item 1

Agenda Item Approval and ratification of the Board of Directors' report on the Company's business operations and
financial management for the fiscal year ending December 31, 2022, as well as the approval and ratification
of the Company's Financial Statements, including the Balance Sheet and Profit and Loss Statement for the
fiscal year ending December 31, 2022, which have been audited by an Independent Public Accountant.
Also, approval of the Company's Annual Report, the Board of Commissioners' supervisory report for the
fiscal year ending December 31, 2022, and granting full settlement and release of responsibility (acquit et
de charge) to all members of the Board of Directors and the Board of Commissioners for the management
and supervisory actions taken during the fiscal year ending December 31, 2022
Voting Results Abstain Agree Disagree Total Agree
314.163.455 16.360.189.049 19.068.150 16.674.352.504
(1,88196%) (98,00381%) (0,11423%) (99,88577%)
AGMS Resolution 1. Approved the Company's Annual Report for the fiscal year ending December 31, 2022, which includes
the Board of Directors' report on the Company's business operations and financial management, as well
as the Board of Commissioners' supervisory report for the fiscal year ending December 31, 2022.
2. Ratified the Company's Financial Statements for the 2022 fiscal year, which were audited by the Public
Accounting Firm "PURWANTONO, SUNGKORO & SURJA" (a member firm of Ernst & Young Global
Limited) with the opinion of "fair in all material respects," as stated in the audit report dated March 21,
2023, Number 00305/2.1032/AU.1/05/0685-1/1/III/2023.
3. Granted full settlement and release of responsibility ("volledig acquit et de charge") to all members of
the Board of Directors and the Board of Commissioners for the management and supervisory actions
they took during the fiscal year 2022, provided that such actions were related to business activities
derived from the Company’s main operations and reflected in the Company’s Financial Statements for
the fiscal year ending December 31, 2022, and in consideration of the Board of Directors' report for the
fiscal year ending December 31, 2022.
Realization Implemented in 2023

174 Annual Report 2024

 Agenda Item 2

Agenda Item Approval of the plan for the allocation of the Company's net profit for the fiscal year ending December 31,
2022.31 Desember 2022.
Voting Results Abstain Agree Disagree Total Agree
113.296.400 16.580.123.254 1.000 16.693.419.654
(0,67868%) (99,32131%) (0,00001%) (99,99999%)
AGMS Resolution 1. Approved the use of the net profit for the year attributable to the owners of the parent entity, amounting
to Rp2,403,334,889,000.00 (two trillion four hundred three billion three hundred thirty-four million
eight hundred eighty-nine thousand Rupiah).
a. Rp200,000,000.00 (two hundred million Rupiah) for the Reserve Fund in accordance with Article 70
of the Indonesian Company Law (UUPT) and Article 23 of the Company's Articles of Association.
b. Rp1,480,287,720,000.00 (one trillion four hundred eighty billion two hundred eighty-seven million
seven hundred twenty thousand Rupiah) to be distributed to all legitimate shareholders of the
Company as a cash dividend, representing 61.593% (sixty-one point five nine three percent) of the
net profit for the year attributable to the owners of the parent entity, after deducting the interim
dividends that have been previously distributed to shareholders based on:

The Board of Directors' decision on July 22, 2022, was to distribute Rp493,429,240,000.00 (four
hundred ninety-three billion four hundred twenty-nine million two hundred forty thousand Rupiah)
or Rp25.00 (twenty-five Rupiah) per share, based on the number of shares outstanding at that time,
which was 19,737,169,600 (nineteen billion seven hundred thirty-seven million one hundred sixty-nine
thousand six hundred) shares, after deducting treasury stock of 336,305,000 (three hundred thirty-
six million three hundred five thousand) shares.

Therefore, the remaining dividend to be paid to shareholders is Rp986,858,480,000.00 (nine

hundred eighty-six billion eight hundred fifty-eight million four hundred eighty thousand Rupiah), or a
maximum of Rp50.00 (fifty Rupiah) per share, based on the current number of outstanding shares of
19,737,169,600 (nineteen billion seven hundred thirty-seven million one hundred sixty-nine thousand
six hundred) shares, after deducting treasury stock of 336,305,000 (three hundred thirty-six million
three hundred five thousand) shares.

The cash dividend payment will be carried out with the determination of the Recording Date on May
11, 2023, at 4:00 PM WIB, while considering the Cum and Ex-Dividend dates in accordance with the
Indonesia Stock Exchange regulations. The Board of Directors is also authorized to further arrange
the dividend distribution process in compliance with applicable laws and regulations.

c. The remaining amount of Rp922,847,169,000.00 (nine hundred twenty-two billion eight hundred
forty-seven million one hundred sixty-nine thousand Rupiah) will be recorded as Retained Earnings
and used as the Company's Working Capital.
2. Granted authority and power to the Board of Directors of the Company to take all necessary actions
related to the implementation of the net profit allocation for the fiscal year ending December 31, 2022.
Realization Implemented in 2023

Annual Report 2024 175

 Corporate Governance

Agenda Item 3

Agenda Item Appointment of an Independent Public Accounting Firm to audit the Company's financial statements for
the fiscal year ending December 31, 2023.
Voting Results Abstain Agree Disagree Total Agree
113.296.500 15.393.140.633 1.186.983.521 15.506.437.133
(0,67869%) (92,21082%) (7,11049%) (92,88951%)
AGMS Resolution 1. Appointed the Public Accounting Firm Purwantono, Sungkoro & Surja (a member firm of Ernst & Young
Global Limited) to audit the Company's consolidated financial statements for the 2023 fiscal year and
granted authority to the Board of Commissioners to determine the honorarium and other requirements
in accordance with applicable regulations related to the appointment of the public accounting firm.
2. Granted authority and power to the Board of Commissioners to appoint a replacement Public
Accounting Firm to audit the Company's consolidated financial statements for the 2023 fiscal
year, including determining the honorarium and other requirements in accordance with applicable
regulations, in the event that the appointed Public Accounting Firm is unable to fulfill its duties for any
reason.
Realization Implemented in 2023

Agenda Item 4

Agenda Item Changes in management structure.

Voting Results Abstain Agree Disagree Total Agree
113.296.400 16.569.267.854 10.856.400 16.682.564.254
(0,67869%) (99,25628%) (0,06503%) (99,93497%)
AGMS Resolution 1. Accepted the resignation of Mr. I Nyoman Mastra as Commissioner of the Company, effective
immediately after the closure of the meeting. The Company acknowledges the valuable service
provided by Mr. I Nyoman Mastra and extends its best wishes and heartfelt thanks for the contributions
and services he has rendered, especially during his tenure as Commissioner and as a member of the
Nomination and Remuneration Committee of the Company.
2. Appointed Mr. Sofyan Djalil as Commissioner of the Company for a term starting from the closure of the
meeting until the Annual General Meeting of Shareholders in 2025.
3. Granted authority to the Board of Directors of the Company, with the right of substitution, to
restate the meeting’s decision regarding the changes in the composition of the Company's Board
of Commissioners in a Notary Deed, and thereafter submit the notification of the changes in the
composition of the Board of Commissioners to the Minister of Law and Human Rights of the Republic
of Indonesia, register it with the Company Register, and take all necessary actions in accordance with
applicable laws and regulations.
Realization Implemented in 2023

Agenda Item 5

Agenda Item Determination of honorarium and allowances for members of the Board of Commissioners, as well as
salaries and allowances for the Board of Directors.
Voting Results Abstain Agree Disagree Total Agree
120.414.400 16.540.912.412 32.093.842 16.661.326.812
(0,72133%) (99,08642%) (0,19225%) (99,80775%)
AGMS Resolution 1. Determined that all members of the Board of Commissioners will receive a maximum honorarium of
Rp390,000,000.00 (three hundred ninety million Rupiah) per month, paid 13 times per year, plus other
allowances. This remuneration is effective from April 29, 2023. Additionally, authority is granted to the
President Commissioner to determine the distribution of the honorarium among the members of the
Board of Commissioners, taking into account the recommendations of the Company’s Nomination and
Remuneration Committee.
2. Delegated authority to the Board of Commissioners to determine the salaries and allowances for each
member of the Board of Directors.
Realization Implemented in 2023

176 Annual Report 2024

Board of
Commissioners
The Board of Commissioners is responsible for overseeing Additionally, the Board of Commissioners ensures compliance
and advising the Board of Directors on the management of the with applicable laws and regulations and oversees the
Company. All supervisory and advisory functions are carried effective implementation of corporate governance principles.
out in compliance with applicable regulations and in alignment The Board plays a critical role in guiding the Company’s
with the best interests of the Company and its stakeholders. strategic direction, ensuring alignment with its vision, mission,
This ensures continuity, efficiency, and effectiveness in and long-term goals.
governance.

Guidelines and Code of Conduct for the Board of Commissioners (Board Charter)

The Board Charter serves as part of the Company's Key Provisions of the Board Charter:
governance framework, providing structured guidelines for 1. Legal Basis & General Provisions
the duties and responsibilities of the Board of Commissioners. 2. Accountability
It was formally ratified on November 30, 2015, and signed by 3. Composition and Criteria of the Board of Commissioners
the President Commissioner and President Director on behalf 4. Appointment and Term of Office
of their respective boards. 5. Duties, Responsibilities, and Authorities
6. Values, Ethics, and Working Conduct
The Board Charter outlines structured, systematic, and 7. Conflict of Interest
consistent working procedures, ensuring transparency and 8. Transparency
accountability. The Board of Commissioners periodically 9. Meetings and Decision-Making
reviews and updates the Charter as needed, considering 10.Evaluation and Reporting
organizational developments, regulatory changes, and 11. Other Governance Matters
governance best practices.

Composition of the Board of Commissioners

The composition and number of the Board of Commissioners As of 2024, the Board of Commissioners consists of three
comply with capital market regulations and the provisions members:
outlined in the Board Charter. The composition is determined 1. President Commissioner
by shareholders through a resolution at the General Meeting of 2. Commissioner
Shareholders (GMS), ensuring alignment with the Company’s 3. Independent Commissioner
vision and mission while facilitating effective, timely, and
informed decision-making. There have been no changes to the composition, and the
current members of the Board of Commissioners, as of the
Board members are appointed for five-year terms, with the submission of this Annual Report, are detailed in the following
possibility of reappointment. However, the GMS retains the table:
authority to dismiss any member at any time.

Reappointment End of
Name Position Nationality First Appointment
Date Term

Soegiarto President GMS April 30,

Indonesia GMS November 21, 1992 2025
Adikoesoemo Commissioner 2020
Sofyan A. Djalil Commissioner Indonesia GMS April 28, 2023 - 2025
Mohamad Fauzi Independent
Indonesia GMS April 30, 2020 - 2025
Maulana Ichsan Commissioner

Annual Report 2024 177

 Corporate Governance

Duties and Responsibilities of the Board of Commissioners

The duties and responsibilities of the Board of Commissioners 11. Within a maximum period of 90 (ninety) days after the
are based on the Board Charter include: temporary suspension, the Board of Commissioners must
1. The Board of Commissioners supervises the management hold a GMS to revoke or confirm the temporary suspension.
policies, the overall management of the Company and its The member of the Board of Directors concerned will
business, and provides advice to the Board of Directors. be given the opportunity to attend the GMS to defend
The Board of Commissioners must perform its duties and themselves.
responsibilities in good faith, with full responsibility and 12. The GMS, as referred to above, will be chaired by the
caution. President Commissioner. If the President Commissioner is
2. In performing its supervisory role as stated above, the absent, the GMS will be chaired by another member of the
Board of Commissioners must direct, monitor, and evaluate Board of Commissioners appointed by the GMS, and the
the implementation of the Company’s strategic policies in meeting must be called in accordance with the applicable
compliance with regulations. provisions.
3. In carrying out its duties, the Board of Commissioners has 13. If all members of the Board of Directors are temporarily
the right to obtain explanations from the Board of Directors suspended and the Company has no members of the
or any member of the Board of Directors regarding all Board of Directors, the Board of Commissioners is required
matters required by the Board of Commissioners. to manage the Company temporarily. In such a case,
4. The Board of Commissioners must ensure the the Board of Commissioners has the right to delegate
implementation of good corporate governance in all temporary power to one or more of its members on their
business activities, including the following: collective responsibility.
a. The duties and responsibilities of the Board of 14. If the GMS is not held within the prescribed time or is
Commissioners and the Board of Directors. unable to make decisions, the temporary suspension
b. The completeness and performance of the committees becomes void.
under the Board of Commissioners. 15. Members of the Board of Commissioners, both collectively
c. The implementation of compliance functions, internal and individually, have the right at any time during the
and external auditors. Company’s office hours to enter the Company’s premises
d. The implementation of risk management, including the or other places used or controlled by the Company. They
internal control system. have the right to examine all books, documents, and
e. The Company’s strategic plans. other evidence, check and match the cash situation, and
f. Transparency of the Company’s financial and non- understand all actions taken by the Board of Directors.
financial conditions. 16. Members of the Board of Commissioners must
g. Approval and periodic review of the Company’s vision, continuously improve their competencies through
mission, and core values. education and training.
5. The Board of Commissioners ensures the alignment 17. Regarding the duties, responsibilities, and authorities of
of environmental, economic, social, and governance each member of the Board of Commissioners, these will
aspects in the formulation of business strategies and the be separately regulated by the Board of Commissioners
implementation of business activities by the Board of in a Board of Commissioners Resolution, along with any
Directors, as part of sustainable business practices. amendments from time to time.
6. The Board of Commissioners approves and/or supervises,
either directly or through the committees under the Board Values
of Commissioners, the implementation of the Company’s
Strategy, Business Plan, and other Policies necessary to In carrying out their duties and responsibilities, the Board
achieve good corporate governance and sustainability in of Commissioners adheres to the values established by the
accordance with applicable regulations. Company, including:
7. To support the effectiveness of its duties and 1. Each member of the Board of Commissioners must
responsibilities, the Board of Commissioners forms: comply with the values implemented within the Company,
a. The Audit Committee which are:
b. The Nomination and Remuneration Committee a. Entrepreneurship spirit
c. Other committees as needed to supervise corporate b. Collaboration
governance c. Respect for high performance
d. The duties and responsibilities of each committee are d. Agility
governed by their respective Committee Charters. e. Empowering the team
8. The Board of Commissioners must ensure that the f. No compromise
Board of Directors follows up on audit findings and 2. Each member of the Board of Commissioners must also
recommendations from the Company’s Internal Audit, exert their full capabilities to achieve the Company’s
External Auditors, OJK’s supervisory results, and/or other vision, which is to become a key player in providing
relevant authority’s findings. logistics services and procurement solutions for
9. The Board of Commissioners has the right at any time to chemicals and energy in Indonesia. Members of the
suspend one or more members of the Board of Directors Board of Commissioners must also exert their full
if they act in violation of the Articles of Association and/or capabilities to achieve the Company’s mission, which is to
applicable regulations or harm the Company’s objectives optimize potential to increase value for shareholders and
or neglect their duties. stakeholders on a sustainable basis.
10.The temporary suspension must be communicated in
writing to the individual concerned, along with the reasons
for the suspension.

178 Annual Report 2024

3. Members of the Board of Commissioners must carry out 5. Members of the Board of Commissioners are prohibited
their duties in good faith, with full responsibility and caution, from using information obtained from the Company for
always adhering to applicable laws and regulations, personal, family, and/or affiliated parties’ gain or interests,
including those related to corporate governance and the which may harm or reduce the benefit and reputation of the
Company’s Articles of Association. Company or its subsidiaries.
4. Each member of the Board of Commissioners must 6. Members of the Board of Commissioners involved in
allocate sufficient time to carry out their duties and financial crimes and/or other criminal acts must resign from
responsibilities optimally. Sufficient time allocation is the Board of Commissioners.
reflected, among other things, by their attendance at 7. Members of the Board of Commissioners, their families,
Board of Commissioners meetings, the execution of Board and affiliated parties may make loans to the Company, in
tasks, and so on. compliance with the applicable regulations.

Division of Duties of the Board of Commissioners

The Board of Commissioners carries out its duties and The Board of Commissioners also ensures that the supporting
responsibilities collectively, with a clear division of roles to committees established for supervisory functions carry out
ensure effective supervision of the Company’s performance. their duties in line with the work plan and the Board Charter. This
Each member has specific duties tailored to their expertise commitment places members of the Board of Commissioners
and experience, whether in overseeing financial aspects, as the chair and members of the supporting committees. The
operations, risk management, regulatory compliance, or other delegation of Board members to the committees takes into
strategic areas. This division of tasks ensures that supervision account their competence and ability to perform the duties of
is optimal and provides accurate recommendations to the each respective committee. The division of duties among the
Board of Directors in managing the Company. members of the Board of Commissioners is as follows:

Name Position Description of Duties

Soegiarto President 1. To convene the Board of Commissioners' meetings in writing, which are
Adikoesoemo Commissioner communicated to all members of the Board of Commissioners, indicating
the agenda, date, time, and location of the meeting.
2. To lead the Board of Commissioners' meetings.
3. To review reports and proposals received from other members of the
Board of Commissioners and from committees under the Board of
Commissioners.
Sofyan A. Djalil Commissioner 1. To review and supervise the business plans submitted by the Board of
Directors, including short-term, medium-term, and long-term plans, as well
as the Company’s business development.
2. To review and supervise the business development and logistics operations
carried out by the Board of Directors.
Mohamad Fauzi Maulana Independent 1. To review and supervise the financial management of the Company and its
Ichsan Commissioner subsidiaries.
2. To review and supervise the preparation of the Company's financial
statements.
3. To review the results of discussions from the Audit Committee with the
Board of Directors, Internal Audit, and Independent Auditors, which are
subsequently discussed in the Board of Commissioners' meeting.

Management of Conflicts of Interest for the Board of Commissioners

In carrying out its functions, the Board of Commissioners must Commissioners avoids conflicts of interest by adhering
avoid any form of conflict of interest that could affect the to the Financial Services Authority (OJK) Regulation No.
fair and transparent decision-making process. A conflict of 42/POJK.04/2020 concerning Affiliate Transactions and
interest occurs when there is a potential personal interest of a Conflicts of Interest Transactions.
Board member that conflicts with the Company's objectives
to generate profit, fulfill its vision and mission, and implement As a mitigation step to prevent potential conflicts of interest,
the decisions made in the GMS. the Board of Commissioners adheres to the following
principles:
The Board of Commissioners is deeply committed to avoiding 1. Board members must avoid situations that could lead to
potential conflicts of interest between personal interests conflicts of interest or always ensure they are not placed
and the Company’s interests that may affect the continuity in situations where a conflict of interest may arise. In
of the Company. The Company ensures that the Board of the event of a conflict of interest, Board members are

Annual Report 2024 179

 Corporate Governance

prohibited from taking actions that could harm or reduce d. They must ensure that the Board of Directors complies
the Company’s benefits and must disclose any potential with the applicable regulations, including, but not
conflicts of interest in every decision made. limited to, disclosing information and obtaining
2. Board members must comply with other provisions approval from Independent Shareholders through the
regarding conflicts of interest that refer to the regulations GMS, if necessary.
on Affiliate Transactions and Conflicts of Interest. 4. If the Board of Commissioners member appointed to lead
3. The procedure for Board members when a conflict of the GMS has a conflict of interest concerning the matter to
interest arises is as follows: be decided in the GMS, the GMS will be chaired by another
a. They must immediately report in writing to the Board of member of the Board of Commissioners who has no
Commissioners regarding any matters that could create conflict of interest.
or contain a conflict of interest that may significantly 5. If all members of the Board of Commissioners have a
impact the financial or reputational standing of the conflict of interest concerning the matter to be decided in
Company, the Board of Commissioners, or the Board of the GMS, the GMS will be chaired by the President Director.
Directors. 6. If all members of the Board of Commissioners and the
b. They are not allowed to participate in the evaluation of Board of Directors have a conflict of interest, the GMS will
any activities involving conflicts of interest. be chaired by one of the independent shareholders, who
c. They may attend the meeting but are not permitted to has no conflict of interest, chosen by the independent
participate in decision-making. shareholders present at the GMS.

Decisions Requiring Approval from the Board of Commissioners

The Board of Commissioners plays a crucial role in overseeing and approving strategic decisions that can affect the continuity
and growth of the Company. The decisions of the Board of Directors that require approval from the Board of Commissioners, as
outlined in the Company’s Articles of Association, include:
1. Appointment of the leadership in the General Meeting of Shareholders (GMS)
2. Distribution of Interim Dividends
3. Establishment of the Company
4. Loan Facilities

Implementation of the Board of Commissioners' Duties

The Board of Commissioners has conducted its supervisory 2. Monitoring the transition of government and policymakers,
function of the Board of Directors in managing the Company. along with the necessary anticipatory actions.
Through the meetings held, the Board of Commissioners 3. Supervising regulatory changes and the implementation of
reviewed the management of the Company, evaluated the sustainability initiatives.
Company’s performance, and received reports from the 4. Monitoring the Company’s anticipation of the impacts of
Audit Committee and the Nomination and Remuneration climate change and developments in renewable energy
Committee. The Board of Commissioners conducted business at JIIPE.
supervision, discussions, and provided guidance to the Board 5. Supervising financial management and transparency of
of Directors regarding the Company’s strategic plans for information to investors.
2024, including: 6. Supervising the implementation of GCG (Good Corporate
1. Monitoring the competitive business environment and Governance) and the whistleblowing system.
macroeconomic conditions, as well as ensuring the
alignment of growth strategies.

180 Annual Report 2024

Resolutions and Approval of the Board of Commissioners

Throughout 2024, the Board of Commissioners provided various resolutions and approvals in carrying out its supervisory function
as follows.

No Date Letter Number Subject

1 March 21, 2024 178/C-CL/2024 Appointment of the GMS Leader for 2024
Approval of Interim Dividend Distribution for the 2024 Fiscal
2 July 29, 2024 522/C-CL/2024
Year
3 August 9, 2024 506/C-CL/2024 Approval of Credit Facility Agreement
4 August 9, 2024 507/C-CL/2024 Approval of Credit Facility Agreement
5 August 9, 2024 508/C-CL/2024 Approval of Credit Facility Agreement
5 August 9, 2024 506/C-CL/2024 Approval of Credit Facility Agreement
6 August 9, 2024 507/C-CL/2024 Approval of Credit Facility Agreement
7 August 9, 2024 508/C-CL/2024 Approval of Credit Facility Agreement

Board of Commissioners’ Recommendations 2. Prioritizing neutrality and a supportive attitude to maintain

good relations with the new government.
The recommendations made by the Board of Commissioners 3. Paying attention to financial risks and maintaining discipline
are based on evaluations of performance reports, risk in applying the business model.
assessments, and monitoring of the Company’s target 4. Considering the risks of climate change impacts on the
achievements. The Board of Commissioners also ensures that Company’s business.
the recommendations align with the Company’s vision and 5. Preparing accurate information for investors regarding the
mission and support sustainable long-term growth. The Board Company’s performance progress.
also provides important recommendations and advice to the 6. Strengthening corporate governance and management
Board of Directors, including: capabilities amid intense competition.
1. Monitoring the alignment of performance with the 7. Implementing sustainability initiatives monitored within the
established direction. AKR Horizon 2030.

Board of Commissioners Orientation Program

The orientation program aims to accelerate the understanding By the end of 2024, there were no changes in the composition
of the Board of Commissioners regarding the Company’s of the Board of Commissioners, and therefore, the orientation
vision, mission, strategy, and operations. It is designed to program was not conducted. All members of the Board
provide comprehensive insights into the organizational of Commissioners continued to perform their duties and
structure, business model, financial performance, legal and responsibilities in accordance with the mandates established.
regulatory aspects, as well as the corporate governance
principles applied by the Company. Through this program,
members of the Board of Commissioners can adapt more
quickly and effectively carry out their roles in supervision and
providing advice to the Board of Directors.

Board of Commissioners' Competency Development

AKR is committed to improving the competencies of the Board discussion forums and conferences at both national and
of Commissioners to ensure effectiveness in performing international levels also forms part of the efforts to broaden
its supervisory and advisory roles to the Board of Directors. perspectives and deepen understanding of strategic issues
Competency development is carried out through various relevant to the Company.
training programs, seminars, and workshops covering aspects
of governance, risk management, regulatory compliance,
as well as industry trends and dynamics. Participation in

Annual Report 2024 181

 Corporate Governance

During 2024, the Board of Commissioners participated in competency development programs as presented in the following
table:

No Name and Position Training Date Organizer

Kementerian Badan
Mohamad Fauzi Maulana Ichsan Preparation and Implementation
1. July 23, 2024 Usaha Milik Negara
Independent Commissioner of PSAK 117 Insurance Contracts
(BUMN)

Performance Evaluation of the Supporting Committees of the Board of Commissioners

The Audit Committee and the Nomination & Remuneration In 2024, the Board of Commissioners assessed that the Audit
Committee support the Board of Commissioners, playing Committee had carried out its tasks and responsibilities well,
vital roles in enhancing the effectiveness of the Board’s including providing constructive recommendations related
performance. The tasks of each committee are assisted to risk evaluation and monitoring the implementation of
by established work guidelines, with a primary focus on financial and operational policies. The Audit Committee also
overseeing financial aspects, regulatory compliance, risk actively conducted reviews of financial statements, ensured
management, succession planning and compensation transparency in the audit process, and coordinated with both
management. internal and external auditors to improve the effectiveness of
supervision.
The performance of the committees is evaluated periodically
to ensure that each performs its duties optimally and in line with The Nomination and Remuneration Committee is responsible
governance principles. This evaluation includes attendance in for reviewing and proposing succession planning for
meetings, the ability to cooperate and communicate actively, the members of the Board of Directors and/or Board of
commitment and integrity, the ability to analyze the financial Commissioners. In 2024, the Board of Commissioners
and operational aspects of the Company, as well as the quality evaluated that the Nomination and Remuneration Committee
of advice/recommendations related to the supervisory tasks had provided sufficient recommendations based on its review
over the Company’s management. results. The Committee also evaluated the remuneration
structure, ensuring that the policies implemented align with
The results of the evaluation serve as a basis for strengthening the principles of prudence and support the retention and
the committee’s roles, refining work mechanisms, determining motivation of the best talents for the Board of Directors and
the duration of tenure, and enhancing the competencies of the Board of Commissioners.
committee members to ensure that the Company’s oversight
and management functions are conducted transparently,
accountably, and sustainably.

182 Annual Report 2024

Independent
Commissioner
An Independent Commissioner is a member of the Board of The composition of AKR's Board of Commissioners complies
Commissioners who does not have any affiliate relationship with Law No. 40 of 2007 on Limited Liability Companies and
with the Company, either directly or indirectly, that could Financial Services Authority Regulation No. 33/POJK.04/2014
influence their independence in performing their supervisory on the Board of Directors and Board of Commissioners
function. The primary duty of an Independent Commissioner of Issuers or Public Companies. The Company has 1 (one)
is to provide an objective and unbiased perspective in the Independent Commissioner, in accordance with the
decision-making process of the Board of Commissioners and requirement that there must be at least one Independent
the Board of Directors. Commissioner or at least 30% of the total members of the
Board of Commissioners.
The Independent Commissioner is expected to ensure that
the decisions made by the Company always prioritize the
interests of stakeholders, including minority shareholders, and
uphold integrity and transparency in corporate governance.

Independent Commissioner Criteria

An Independent Commissioner must meet certain criteria to 2. The Independent Commissioner is appointed based on the
ensure their independence in performing their supervisory following criteria:
function and providing an objective perspective in decision- a. Does not hold shares, either directly or indirectly, in the
making. The criteria or requirements for an Independent Company.
Commissioner refer to the Financial Services Authority b. Does not have an affiliate relationship with the Company,
Regulation No. 33/POJK.04/2014 on the Board of Directors members of the Board of Commissioners, members
and Board of Commissioners of Issuers or Public Companies. of the Board of Directors, or the Company’s majority
The Company has appointed an Independent Commissioner shareholders.
who meets the following criteria: c. The Independent Commissioner must also not have
1. The Independent Commissioner must not have any business relationships, either directly or indirectly,
been someone who worked or had the authority and related to the Company’s business activities.
responsibility to plan, lead, control, or supervise the
Company’s activities in the last 6 (six) months, except for Statement of Independence of the Company's Independent
reappointment as an Independent Commissioner for the Commissioners, including:
next term.

Mohamad Fauzi
Statement of Independence
Maulana Ichsan

Not someone who has worked or had the authority and responsibility to plan, lead, control, or
supervise the Company’s activities in the last 6 (six) months, except for reappointment as an ✓
Independent Commissioner of the Company for the next term.
Does not hold shares, either directly or indirectly, in the Company. ✓
Does not have an affiliate relationship with the Company, members of the Board of Commissioners,
✓
members of the Board of Directors, or the Company’s majority shareholders.
Does not have any business relationship, either directly or indirectly, related to the Company’s
✓
business activities.

Annual Report 2024 183

 Corporate Governance

Board of
Directors
The Board of Directors is the corporate body responsible, The Board of Directors performs its tasks effectively
collectively, to the General Meeting of Shareholders (GMS) by focusing on operational management, strategic
for managing the Company in accordance with its objectives decision-making, and improving business efficiency and
as defined in the Articles of Association. In carrying out its competitiveness. With a structured management approach
duties, the Board of Directors upholds the interests of the based on the principle of prudence, the Board of Directors
Company and strives to achieve its goals as per the Articles of seeks to create sustainable value and ensure the growth and
Association while applying corporate governance principles continuity of AKR's business amidst the industry's dynamics
at all organizational levels. and market challenges.

Board of Directors' Guidelines and Code of Conduct (Board Charter)

The Board of Directors' Guidelines and Code of Conduct in accordance with the needs of the Board of Directors, the
(Board Charter) is part of the policy structure or governance development of the Company, and applicable laws and
soft structure within AKR, serving as a specific guide for the regulations. The Board Charter contains information on:
Board of Directors in performing its role in accordance with the 1. Legal Basis & General Provisions
Articles of Association and applicable laws and regulations. 2. Accountability
The Board Charter of the Board of Directors was approved on 3. Composition and Criteria of the Board of Directors
November 30, 2015. This approval was signed by the President 4. Appointment and Tenure of the Board of Directors
Commissioner and the Board of Directors as representatives 5. Duties, Responsibilities, and Authority of the Board of
of the other members of the Board of Commissioners and the Directors
Board of Directors. 6. Values, Ethics, and Working Hours
7. Conflict of Interest
The Board Charter contains operational guidelines and 8. Transparency
outlines structured, systematic steps that can be consistently 9. Board of Directors Meetings
implemented. The Board of Directors periodically reviews 10.Evaluation and Accountability
the Board Charter and makes updates if deemed necessary, 11. Other Matters

Composition of the Board of Directors

The composition and number of the Board of Directors comply The Company’s Board of Directors consists of at least 3 (three)
with the applicable regulations in the Capital Market and the members, including a President Director and several other
Board Charter of the Board of Directors. The composition is Directors. The composition is aimed at reflecting a diversity
determined by the shareholders through the GMS decision, of expertise, experience, education, nationality, age, gender,
taking into account the Company’s vision and mission to and independence.
ensure effectiveness in management and strategic decision-
making. The Board of Directors may be reappointed for a term In 2024, the Board of Directors consisted of 7 (seven)
of 5 (five) years, without prejudice to the GMS's right to dismiss members, including 1 (one) President Director and 6
them at any time. (six) Directors. There were no changes which means the
composition of the Board of Directors as of December 31,
2024, is as follows:

End of
Name Position Nationality First Appointment Reappointment Date
Term

Haryanto President
Indonesian AGMS 21 November 1992 AGMS April 30, 2020 2025
Adikoesoemo Director
Jimmy Tandyo Director Indonesian AGMS 26 January 1985 GMS April 30, 2020 2025
Bambang
Soetiono Director Indonesian AGMS 5 April 1994 AGMS April 30, 2020 2025
Soedijanto
Mery Sofi Director Indonesian AGMS 27 June 2006 AGMS April 30, 2020 2025

184 Annual Report 2024

 End of
Name Position Nationality First Appointment Reappointment Date
Term

Suresh Vembu Director Indian AGMS 18 May 2009 AGMS April 30, 2020 2025
Nery Polim Director Indonesian AGMS 15 May 2012 AGMS April 30, 2020 2025
Termurti Tiban Director Indonesian AGMS 5 May 2015 AGMS April 30, 2020 2025

Duties and Responsibilities of the Board of Directors

The Board of Directors is generally responsible for f. Establishing subsidiaries;

managing the Company's operational activities to achieve g. Acquiring shares or participating in other companies or
the Company's objectives. The scope of duties and legal entities, or initiating new business ventures;
responsibilities is outlined as follows: h. Entering into agreements on behalf of the Company
1. The Board of Directors is responsible for managing the with a term of more than one year and a value exceeding
Company in the interest of the Company, in accordance 5% (five percent) of the Company's total revenue.
with the Company's purposes and objectives as stipulated 7. The Board of Directors submits the work plan, including the
in the Articles of Association. Each member of the Board of Company's annual budget, to the Board of Commissioners
Directors must perform their duties and responsibilities in for approval before the fiscal year begins.
good faith, with full responsibility and prudence. 8. The Board of Directors must provide accurate, relevant,
2. In carrying out management duties and responsibilities, and timely data and information to the Board of
the Board of Directors must present accountability to Commissioners.
shareholders through the Annual General Meeting of 9. The Board of Directors must obtain GMS approval for any
Shareholders (GMS) and other GMS as regulated by laws transfer or encumbrance of the Company's assets that
and the Articles of Association. constitute more than 50% (fifty percent) of the Company's
3. The Board of Directors formulates business strategies and net assets in one or more transactions, whether related or
policies in alignment with the Company's vision and mission unrelated.
while considering potential risks. The Board ensures 10.The Board of Directors must publish an announcement
that environmental, economic, social, and governance in two (2) daily newspapers circulating in the Company's
aspects are taken into account in the formulation and domicile or business location regarding a proposed
implementation of sustainable business practices. merger, consolidation, acquisition, or corporate separation
4. The Board of Directors conducts regular supervision of at least fourteen (14) days before the GMS invitation.
the Company’s performance to ensure alignment with the 11. The President Director is entitled and authorized to act
strategic plan, other business operations, and the budget on behalf of the Board of Directors and represent the
plan through periodic meetings with the Company's Senior Company.
Management. 12. If the President Director is absent or unable to perform
5. To implement the principles of Good Corporate duties for any reason, which does not need to be proven to
Governance and Sustainability, the Board of Directors has third parties, the Board of Directors will be represented by
established: a Director appointed in writing by the President Director. If
a. Internal Audit, Quality Assurance, & Risk Management; no such appointment is made, the Board of Directors will
b. ESG Task Force and ESG Committee. be represented by two (2) Directors, who shall act on behalf
6. The Board of Directors is authorized to represent the of the Board and represent the Company.
Company in and outside the court in all matters and 13. Without limiting its responsibility, the Board of Directors
circumstances, binding the Company with third parties is also entitled to appoint one or more representatives
and vice versa, and carrying out all actions related to or proxies for specific actions, under terms determined
management and ownership, with the following limitations: by the Board of Directors in a special power of attorney,
a. Acquiring immovable assets at a market price which must be executed in accordance with the Articles of
exceeding Rp20,000,000,000 (twenty billion Rupiah) Association.
or its equivalent in other currencies; 14. Members of the Board of Directors are required to
b. Disposing of immovable assets owned by the Company continuously enhance their competencies through
with a value exceeding Rp10,000,000,000 (ten billion education and training.
Rupiah), either at market value or book value, or its 15. The specific duties, responsibilities, and authorities of each
equivalent in other currencies; member of the Board of Directors shall be determined
c. Borrowing funds on behalf of the Company; separately in a Board of Directors’ Decision, which may be
d. Pledging or encumbering assets; revised from time to time.
e. Binding the Company as a guarantor (borg/avalist);

Annual Report 2024 185

 Corporate Governance

Division of Duties of the Board of Directors

The division of duties within the Board of Directors is based Although each member has specific duties, decisions are
on the respective areas of responsibility of each member, made collectively in Board meetings to ensure alignment
in accordance with their competencies and expertise. Each in the Company's management. A clear division of duties
member is responsible for a specific function to ensure the enables the Board of Directors to function more effectively,
effective management of the Company and the achievement enhance coordination, and optimize the Company's long-
of its established strategic objectives. term performance.

Name Position Description of Duties

Haryanto Adikoesoemo President Director 1. Defining the Company's vision and mission and ensuring that the vision
and mission are implemented by the entire management of the Company,
including its subsidiaries.
2. Approving the short-term, medium-term, and long-term Business Plan,
including business development, before submission to the Board of
Commissioners for final approval.
3. Ensuring the implementation of the Company's strategic plans through a
system of control and evaluation of work plans and budgets.
4. Enhancing and implementing risk management while ensuring that the
Company's operations adhere to the principles of Good Corporate
Governance.
5. Ensuring that the Company's activities adopt Safety, Health & Environment
regulations, including implementing measures for environmental
protection, such as reducing energy consumption and increasing the
distribution of clean/renewable energy.
6. To fulfill these responsibilities, the President Director is assisted by six
Directors, each managing a different directorate.
Jimmy Tandyo Director 1. Ensuring that the vision and mission of the Business Unit are implemented
by the entire management of the Company.
2. Approving the Company's short-term, medium-term, and long-term
Business Plan, including business development, before submission to the
President Director.
3. Ensuring the implementation of the Company's strategic plans through a
system of control and evaluation of work plans and budgets.
4. Ensuring that the established Business Unit Business Plan is achieved.
5. Ensuring that the operations of the Business Unit comply with Good
Corporate Governance principles.
6. Ensuring that the Business Unit's activities adopt Safety, Health &
Environment regulations.
7. Ensuring the development of competent Human Resources who embody
values aligned with the Company's principles.
8. Additionally, he is responsible for managing several of the Company's
subsidiary entities.
Bambang Soetiono Director 1. Responsible for managing the Company's supply chain and logistics.
Soedijanto 2. Responsible for all logistics operations of the Company (supply chain).
3. Ensuring that logistics operations adopt Safety, Health & Environment
regulations.
4. Periodically implementing improvements and innovations to enhance
efficiency and optimize logistics operations performance.
5. Developing logistics facilities to support the expansion of the Company's
business activities.
6. Refining Standard Operating Procedures (SOP) related to logistics
operations from time to time.
7. Responsible for the integrated industrial estate and port project, JIIPE,
covering operations, marketing, and external relations.
8. Additionally, he is responsible for managing several of the Company's
subsidiary entities.

186 Annual Report 2024

 Name Position Description of Duties

Mery Sofi Director Responsible for managing the distribution business of Petroleum Oil (BBM)
and basic chemicals, including:
1. Responsible for the trading and distribution of Petroleum Oil (BBM) and
basic chemicals.
2. Developing products and business in the Petroleum Oil and chemical
sectors.
3. Establishing long-term relationships with suppliers and customers.
4. Managing risk in trading and distribution activities, including cost control,
product availability, and shipping procedures.
5. Collaborating with the Finance Director to control risks related to cost
determination, pricing, and taxation.
6. Providing guidance on marketing operations to enhance service quality.
7. Enhancing the organization's ability to conduct business analysis through IT
system improvements and digitalization.
8. Additionally, he is responsible for managing several of the Company's
subsidiary entities.
Suresh Vembu Director Responsible for Corporate Finance, investor relations, and the Corporate
Secretary division of the Company, including:
1. Developing and implementing commercial strategies, expanding
the Company’s business divisions in collaboration with partners, and
overseeing the achievement of business objectives.
2. Collaborating with partners to build and maintain profitable business
operations, setting financial targets, and monitoring performance.
3. Overall responsibility for ensuring the Company's compliance with
applicable regulations and laws, ensuring that shareholders, capital market
authorities, investors, analysts, and the public receive timely, complete,
and accurate information on all material matters.
Nery Polim Director 1. Developing sales strategies in collaboration with Branch Office Heads and
the commercial division.
2. Driving the achievement of sales targets at Branch Offices.
3. Implementing best practices in branch management and operations
across all regions.
4. Ensuring the effective application of risk management so that it becomes
an integral part of divisional/regional operations.
5. Facilitating the development of competent human resources and fostering
a conducive work environment in the Region.
6. Additionally, he is responsible for managing several of the Company's
subsidiary entities.
Termurti Tiban Director 1. Responsible for managing the Company's finances.
2. Ensuring that the Company's financial management is conducted prudently
while minimizing financial risks.
3. Managing the Company's working capital.
4. Ensuring that financial costs (cost of funds) and other expenses are
minimized as much as possible.
5. Overseeing the Company's tax management, including compliance with
tax regulations.
6. Coordinating the preparation of the Company's budget and controlling the
utilization of the approved budget.
7. Ensuring that Financial Statements are prepared in accordance with PSAK
and POJK regulations and reported on time.
8. Additionally, he is responsible for managing several of the Company's
subsidiary entities.

Annual Report 2024 187

 Corporate Governance

Values 4. Members of the Board of Directors must perform their

duties in good faith, with full responsibility and prudence,
In carrying out their duties and responsibilities, the Board of while complying with applicable laws and regulations,
Directors adheres to the values established by the Company, including corporate governance implementation and the
which include: Company’s Articles of Association.
1. The Board of Directors' work ethics are guided by the Code 5. Each member of the Board of Directors must allocate
of Ethics and Conduct of PT AKR Corporindo Tbk. sufficient time to carry out their duties and responsibilities
2. Each member of the Board of Directors must comply with optimally.
the Company's core values, which include: 6. Members of the Board of Directors are prohibited from
a. Entrepreneurial Spirit using information obtained from the Company for personal
b. Collaboration gain, for the benefit of their family, and/or affiliated parties
c. Respect for High Performance in a manner that may harm or reduce the Company's profits
d. Agility and reputation, including that of its subsidiaries.
e. Team Empowerment 7. Any member of the Board of Directors involved in financial
f. No Compromise crimes and/or other criminal offenses must resign from the
3. Each member of the Board of Directors is also required to Board of Directors.
dedicate their full capabilities to achieving the Company’s
vision of becoming a leading provider of logistics services
and procurement solutions for chemicals and energy
in Indonesia. Additionally, they must strive to fulfill the
Company’s mission of optimizing potential to enhance
shareholder and stakeholder value sustainably.

Management of Conflicts of Interest for the Board of Directors

The Board of Directors is committed to carrying out its duties 2. If the Company has an economic interest that conflicts with
and responsibilities with integrity and avoiding any form of the personal economic interest of a member of the Board
conflict of interest that may affect independence in decision- of Directors and may be detrimental to the Company, the
making. The management of conflicts of interest is conducted authority to represent the Company shall be as follows:
through the implementation of strict governance policies, a. Another member of the Board of Directors who does
including compliance with applicable laws and the Company's not have a conflict of interest with the Company;
code of business ethics. b. The Board of Commissioners, in the event that all
members of the Board of Directors have a conflict of
The Board of Directors upholds a strong commitment to interest with the Company; or
prevent potential conflicts of interest that may impact c. Another party appointed by the GMS, in the event that
sustainability. The Company ensures the avoidance of all members of the Board of Directors or the Board
conflicts of interest by adhering to Financial Services Authority of Commissioners have a conflict of interest with the
(OJK) Regulation No. 42/POJK.04/2020 concerning Affiliated Company.
Transactions and Conflict of Interest Transactions. 3. If there is a potential conflict of interest, the Board of
Directors must report it to the Audit Committee, allowing
The principles applied by the Board of Directors are as follows: the Audit Committee to provide recommendations to the
1. Members of the Board of Directors must comply with Board of Commissioners.
other applicable provisions regarding conflicts of interest,
referring to the regulations on Affiliated Transactions and
Conflicts of Interest.

Implementation of the Duties of the Board of Directors

At the end of 2024, the Board of Directors had carried out its 7. Overseeing the performance of Subsidiaries.
duties and responsibilities as follows: 8. Executing dividend payments for the 2023 performance
1. Leading the management team in the preparation of the and the first half of 2024.
2025 Work Plan and Budget & evaluating the Company's 9. Evaluating strategies for utilizing Artificial Intelligence to
2024 strategy. achieve operational excellence.
2. Identifying Company risks and formulating strategies for 10.Assessing expansion projects into Eastern Indonesia.
entering 2024 & 2025. 11. Defining business development strategies to support
3. Establishing strategic measures to address competition in JIIPE’s growth, including forming a joint venture to enhance
the trading and distribution segments. logistics services and energy supply.
4. Setting targets and marketing strategies for JIIPE. 12. Evaluating expansion and marketing strategies for bp AKR.
5. Establishing AKR Horizon 2030 as the AKR Sustainability 13. Developing an investor communication strategy.
Progress Tracker. 14. Conducting the Annual Public Expose and holding
6. Reviewing promotion programs, rotation plans, and meetings with Investors and other Stakeholders.
remuneration policies.

188 Annual Report 2024

 Board of Directors' Decisions

In 2024, the Board of Directors issued various decisions in carrying out the Company's management functions as follows:

No Date Subject

1. March 18, 2024 Decisions of the Board of Directors regarding the AGMS held on April 29, 2024
2. July 23, 2024 Decision on the Interim Dividend Distribution for 2024
3. December 13, 2024 Decision on the Company Budget for 2025

Board of Directors Orientation Program

AKR conducts an orientation program for newly appointed As of the end of 2024, there have been no changes in the
members of the Board of Directors to expedite their composition of the Board of Directors, and therefore, no
understanding of the organizational structure, business orientation program was conducted.
model, strategy, and corporate governance. This is designed
to ensure that each member can effectively carry out their
duties and responsibilities in accordance with the Company's
vision, mission, and values. With the orientation program in
place, the Board is expected to adapt quickly and contribute
optimally to the Company's management.

Director’s Competency Development

AKR develops the competence of its Board of Directors to The Board of Directors is also encouraged to participate in
ensure effectiveness in management and strategic decision- business forums, national and international conferences, and
making. This takes place through various training programs, professional certification programs to broaden their insights
seminars, and workshops covering leadership, corporate and deepen their understanding of business challenges.
governance, regulations, risk management, finance, and Participation of the Board of Directors in training programs,
relevant industry trends. certifications, seminars, or workshops up to the end of 2024
includes:

Name and
No Training Date Location Organizer
Position

1. Suresh Vembu ESG Investing : What is it and

April 25, 2024 Zoom IDX
Director why investors care about it?"
Setting Your Sail on the
Indonesia Carbon Trading Juny 27, 2024 Zoom IDX
Ecosystem
• Coordinating
Ministry for
Infrastructure
Indonesia International
September 5, 2024 Jakarta and Regional
Sustainability Forum 2024
Development
• KADIN
• Mckinsey
ESG Risk Ratings - Benefits of
Navigating Material ESG Risks
September 18, 2024 Zoom IDX
and Communicating Material
ESG Risks with Stakeholders
CDP's Webinar "Advancing
October 22, 2024 Zoom CDPnature
Nature-based Finance in Asia
Responsible Supply Chain December 3, 2024 Zoom IDX

Annual Report 2024 189

 Corporate Governance

Name and
No Training Date Location Organizer
Position

2. Termurti Tiban Sosialisasi AEO Januari 29, 2024 Jakarta Pihak DJBC AEO
Director
Permata Market Outlook :
Anticipacing the Return of
April 1, 2024 Jakarta PERMATA
twin deficit and the Fed's
Long and Winding Road
S&P Global Ratings and
PEFINDO 2nd Annual
Indonesia Credit Spotlight: May 15, 2024 Jakarta PEFINDO
Credit Trends Under A New
Administration
Undangan Rakerkonas
August 29, 2024 Surabaya APINDO
APINDO
Sosialisasi PDP (Perlindungan
October 16, 2024 Jakarta ADCO Law
Data Pribadi)
Training PBTaxand - Core Tax
dan Nota Dinas No. 14 (Juklak November 18, 2024 Jakarta PB Taxand
Natura)
Economic Outlook Permata
"Beyond Commodities
December 3, 2024 Jakarta PERMATA
: Unveiling Indonesia's
Economic Potential"
Forum Group Discussion
December 6, 2024 Jakarta AKR
dengan BPH Migas

Performance Assessment of Board Supporting Committees

AKR does not have Board Supporting Committees. Instead, The supporting functions operate based on established
the Board of Directors is supported by Corporate Secretary, work guidelines, ensuring that their duties are carried out in
Internal Audit, and Investor Relations functions. a structured and efficient manner. The Board of Directors
evaluates their performance both individually and collectively,
The Corporate Secretary ensures compliance with regulations which serve as a basis for determining the tenure of each
and facilitates smooth communication between the Company member of the supporting functions.
and its shareholders. Internal Audit supervises and evaluates
functions on internal control systems and compliance with In 2024, the Board of Directors assessed that the support
applicable policies. Meanwhile, Investor Relations contributes functions fulfilled their duties and responsibilities in
to maintaining information transparency and strengthening accordance with the established work guidelines. These
investor confidence in the Company’s performance and three functions play a crucial role in supporting effective
business prospects. corporate governance, transparency, and communication
with stakeholders.
The Company periodically assesses the performance of these
supporting functions based on various indicators, including The Corporate Secretary ensures compliance with regulations
the execution of duties and responsibilities, commitment and and facilitates smooth communication between the
integrity, ability to analyze financial and operational aspects of Company and its shareholders. Internal Audit has fulfilled its
the Company, and the quality of advice or recommendations role in monitoring and evaluating the internal control system
related to management. and adherence to applicable policies. Meanwhile, Investor
Relations focuses on maintaining information transparency
and enhancing investor confidence in the Company’s
performance and business outlook.

190 Annual Report 2024

Independence and Transparency of the
Board of Commissioners and Board of
Directors
Share Ownership of the Board of Commissioners and Board of Directors

Based on OJK Regulation No. 4 of 2024 on the Report of Share 4. The Corporate Secretary will provide the Share Ownership
Ownership or Any Changes in Share Ownership of a Public Change Statement Form, signed personally by the
Company, each member of the Board of Commissioners and respective individual or their authorized representative.
Board of Directors is required to report their share ownership The report on ownership changes will then be prepared
and any changes thereof to the Company. AKR has established following the format required for the Report of Share
a policy regarding the reporting of share ownership, as Ownership or Any Changes in Share Ownership of a
stipulated in Regulation No. 001/R-AKR-CS/2024, with the Public Company, signed by the respective individual, and
following reporting mechanism: submitted through the Corporate Secretary to OJK.
1. Any planned transaction involving the purchase or sale 5. The Corporate Secretary will also circulate the Share
of AKRA shares by a member of the Board of Directors Ownership Statement Form periodically each year to
or Board of Commissioners must be reported to the monitor the movement of share ownership by members
Corporate Secretary at least seven (7) days before of the Board of Directors, Board of Commissioners, and
execution. This can be submitted in a date range format their families. This form must be returned to the Corporate
using the Share Transaction Plan Form, accompanied by a Secretary within seven (7) calendar days after distribution.
Statement Agreement.
2. Members of the Board of Directors or Board of The Board of Commissioners and Board of Directors are
Commissioners who own AKRA shares must complete and obligated to report their share ownership and any changes
sign the Share Ownership Change Statement Form and to the Corporate Secretary no later than one (1) calendar day
submit their share ownership details to the Company, as after a transaction. The report on changes in ownership must
authorized to the Corporate Secretary. also be submitted to OJK no later than 5 (five) business days
3. Reporting must be conducted by submitting proof of the after the transaction. The share ownership of the Board of
share transaction immediately after the transaction (H-0) Commissioners and Board of Directors in AKR as of December
or no later than one (1) calendar day after the transaction 31, 2024, is as follows:
has occurred.

Name Position AKR Share Ownership

Board of Commissioners
Soegiarto Adikoesoemo President Commissioner 101.604.800
Sofyan A. Djalil Commissioner -
Mohamad Fauzi Maulana Ichsan Independent Commissioner -
Board of Directors
Haryanto Adikoesoemo President Director 205.604.600
Jimmy Tandyo Director 39.000.000
Bambang Soetiono Soedijanto Director 4.780.000
Mery Sofi Director 2.303.000
Suresh Vembu Director 3.727.500
Nery Polim Director 1.050.000
Termurti Tiban Director 450.000

Annual Report 2024 191

 Corporate Governance

Affiliated Relationships of the Board of Commissioners and Board of Directors

The Board of Commissioners and Board of Directors uphold independence and avoid conflicts of interest that could hinder
their ability to perform their duties professionally and objectively. Any affiliated relationships of the members of the Board of
Commissioners and Board of Directors remain in compliance with applicable regulations.

Board of Controlling
Board of Directors
Name Commissioners Shareholder

GIK SDJ FIC HAR JTA BSU MES SVE NPO TER GIK HAR

Board of Commissioners
Soegiarto
- - - ✓ - - - - - - - ✓
Adikoesoemo
Sofyan A. Djalil - - - - - - - - - - - -
Mohamad Fauzi
- - - - - - - - - - - -
Maulana Ichsan
Board of Directors
Haryanto
✓ - - - - - - - - - ✓ -
Adikoesoemo
Jimmy Tandyo - - - - - - - - - - - -
Bambang Soetiono
- - - - - - - - - - - -
Soedijanto
Mery Sofi - - - - - - - - - - - -
Suresh Vembu - - - - - - - - - - - -
Nery Polim - - - - - - - - - - - -
Termurti Tiban - - - - - - - - - - - -
Details
√ : Yes HAR : Haryanto Adikoesoemo
- : No JTA : Jimmy Tandyo
GIK : Soegiarto Adikoesoemo BSU : Bambang Soetiono Soedijanto
SDJ : Sofyan A. Djalil MES : Mery Sofi
FIC : Mohamad Fauzi Maulana Ichsan SVE : Suresh Vembu
NPO : Nery Polim
TER : Termurti Tiban

• There are no affiliated relationships between members of • There are no affiliated relationships between members of
the Board of Directors. the Board of Commissioners.
• Affiliated relationship between a member of the Board of • Affiliated relationship between a member of the Board
Directors and a member of the Board of Commissioners: of Commissioners and the controlling shareholder: The
The President Director of the Company, Mr. Haryanto President Commissioner of the Company, Mr. Soegiarto
Adikoesoemo, is the son of Mr. Soegiarto Adikoesoemo, Adikoesoemo, is one of the shareholders and the President
who serves as the President Commissioner of the Commissioner of PT Arthakencana Rayatama, which is
Company. the controlling shareholder of the Company. His son, Mr.
• Affiliated relationship between a member of the Board of Haryanto Adikoesoemo, is the President Director and one
Directors and the controlling shareholder: The President of the shareholders of PT Arthakencana Rayatama.
Director of the Company, Mr. Haryanto Adikoesoemo,
is the President Director and one of the shareholders
of PT Arthakencana Rayatama, which is the controlling
shareholder of the Company. His father, Mr. Soegiarto
Adikoesoemo, is the President Commissioner and one of
the shareholders of PT Arthakencana Rayatama.

192 Annual Report 2024

 Concurrent Positions of the Board of Commissioners and Board of Directors

The Company regulates concurrent positions for members of 3. Members of the Board of Commissioners may concurrently
the Board of Commissioners and Board of Directors to ensure serve as members of a maximum of 5 (five) committees
that each individual can fulfill their duties and responsibilities in Issuers or Public Companies where they also hold a
optimally without conflicts of interest or a decline in work position as a member of the Board of Directors or the
effectiveness. This policy refers to OJK Regulation No. 33/ Board of Commissioners.
POJK.04/2014 on Boards of Directors and Commissioners of
Issuers or Public Companies. Provisions for Concurrent Positions of the Board of Directors
1. Members of the Board of Directors may concurrently hold
Each member of the Board of Commissioners and Board of positions as:
Directors holding a concurrent position in another entity must a. Members of the Board of Directors in a maximum of 1
ensure that such involvement does not interfere with their (one) other Issuer or Public Company;
performance and commitment to the Company. Furthermore, b. Members of the Board of Commissioners in a maximum
all concurrent positions must be reported and periodically of 3 (three) other Issuers or Public Companies; and/or
evaluated to ensure compliance with applicable regulations 2. Members of a maximum of 5 (five) committees in Issuers
and maintain transparency in the Company’s leadership or Public Companies where they also hold a position
structure. as a member of the Board of Directors or the Board of
Commissioners.
Provisions for Concurrent Positions of the Board of
Commissioners All members of AKR's Board of Commissioners and Board of
1. Members of the Board of Commissioners may concurrently Directors have complied with the provisions on concurrent
hold positions as: positions as stipulated by the OJK Regulation (POJK). The
a. Members of the Board of Directors in a maximum of 2 disclosure of concurrent positions held by members of the
(two) other Issuers or Public Companies; and Board of Commissioners and Board of Directors in 2024
b. Members of the Board of Commissioners in a maximum is presented in Chapter 3 – Company Profile of this Annual
of 2 (two) other Issuers or Public Companies. Report.
2. If a member of the Board of Commissioners does not
hold a concurrent position as a member of the Board of
Directors, they may serve as a member of the Board of
Commissioners in a maximum of 4 (four) other Issuers or
Public Companies.

Annual Report 2024 193

 Corporate Governance

Diversity in the Composition of the Board of Commissioners and Directors

Diversity in the Board of Commissioners and Directors ensures a wide range of perspectives in strategic decision-making. This
encompasses various aspects, including gender, experience, professional background, and competencies relevant to the
Company’s business needs. Currently, three (3) out of seven (7) members of the Board of Directors, or 42.8%, are women.

Percentage Composition of the Board of Commissioners and Directors Based on Gender:

57% 43%
Male Female

With diversity in its leadership structure, the Company can be more adaptive in responding to industry dynamics while optimizing
the implementation of Good Corporate Governance. The combination of extensive experience and specialized expertise enables
the Board of Commissioners and Directors to be more effective, creating long-term value for stakeholders.

194 Annual Report 2024

 Name Position Gender Age Education Experience

Board of Commissioners
Soegiarto President Male 87 High School Founded PT AKR Corporindo
Adikoesoemo Commissioner Tbk in the 1960s.

Sofyan A. Djalil Commissioner Male 71 Ph.D. in Law and Capital Has over 13 years of
Market Policy from experience in both the public
Fletcher School of Law and private sectors, serving
and Diplomacy – Tufts as a Minister in various fields.
University
Mohamad Fauzi Independent Male 55 Master of Science, Possesses more than 20
Maulana Ichsan Commissioner Development Studies, years of experience in
Massachusetts Institute government (both as a
of Technology (MIT), policymaker and regulator),
Massachusetts, USA economic and market
research, as well as in banking
and finance.
Board of Directors
Haryanto President Director Male 62 Executive Management Over 40 years of experience
Adikoesoemo Program from Harvard in trade, management,
Business School business development, and
finance.
Jimmy Tandyo Director Male 73 Advanced Management Over 50 years of experience
Program from Harvard in management and business
Business School development.
Bambang Director Male 63 Bachelor’s Degree in Over 30 years of experience
Soetiono Accounting from STIE in management, finance, and
Soedijanto Surabay business development.
Mery Sofi Director Female 58 Advanced Management Over 25 years of experience
Program, Northwestern in finance, management, and
University business development.
Suresh Vembu Director Male 60 Bachelor of Commerce Over 35 years of experience
from Bangalore in finance, management, and
University and compliance.
Chartered Accountant
from Indian Institute of
Chartered Accountants
Nery Polim Director Female 60 Bachelor’s Degree Over 30 years of experience
in Economics in human resource
from California management, management,
State University of and business development.
Bakersfield
Termurti Tiban Director Female 54 Bachelor’s Degree in Over 20 years of experience
Economics from Trisakti in finance and accounting.
University

Annual Report 2024 195

 Corporate Governance

Implementation of Board of Commissioners Meetings

The Board of Commissioners holds meetings to discuss the Each meeting is documented through meeting minutes, which
Company's performance, provide strategic direction, and record the discussion agenda, decisions made, and necessary
carry out its supervisory function in accordance with its duties follow-up actions. The minutes are signed by the meeting
and responsibilities. Meetings are required to be held at least chairperson and all attending members. Every member has the
once every two months and joint meetings with the Board of right to receive a copy of the minutes, regardless of whether
Directors at least once every four months. they were present. Decision-making in meetings requires a
quorum of at least two-thirds (2/3) of the members.
At least 75% of the meetings in a year must be attended by
all members of the Board of Commissioners. This is based on In 2024, the Board of Commissioners conducted 3 (three)
the Board Charter and the provisions of OJK Regulation No. meetings with the agenda and attendance as follows:
33/POJK.04/2014 concerning the Board of Directors and
Board of Commissioners of Issuers or Public Companies. The
complete provisions and rules for Board of Commissioners
meetings are outlined in the Board Charter.

Participants
No Date Agenda
GIK SDJ FIC

Appointment of the Chairperson for the Annual General

1. March 21, 2024 ✓ ✓ ✓
Meeting of Shareholders (AGMS) on April 29, 2024
2. July 29, 2024 Approval of Interim Dividend Payment ✓ ✓ ✓
3. August 9, 2024 Approval of Loan Facility ✓ ✓ ✓
Number of Meetings 3 3 3
Attendance Number 3 3 3
% Attendance 100% 100% 100%
Details
GIK : Soegiarto Adikoesoemo
SDJ : Sofyan A. Djalil
FIC : Mohamad Fauzi Maulana Ichsan

The Joint Meetings of the Board of Commissioners and the Board of Directors were held four (4) times, with the following agenda
details and attendance recap:

Participants

Board Of
No Date Agenda Board of Directors
Commissioners

GIK SDJ FIC HAR JTA BSU MES SVE NPO TER

1. March 18, Consolidated Financial

2024 Statements as of
December 31, 2023,
and for the year then
ended, along with the ✓ ✓ ✓ ✓ ✓ ✓ x ✓ ✓ ✓
Independent Auditor’s
Report of PT AKR
Corporindo Tbk and
Subsidiaries
2. April 23, Discussion of the
2024 Consolidated Financial
Statements as of March
31, 2024, and for the
✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
three-month period then
ended (unaudited) of PT
AKR Corporindo Tbk and
Subsidiaries

196 Annual Report 2024

 Participants

Board Of
No Date Agenda Board of Directors
Commissioners

GIK SDJ FIC HAR JTA BSU MES SVE NPO TER

3. July 23, Discussion of the

2024 Consolidated Financial
Statements as of June
30, 2024, and for the
✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
six-month period then
ended (unaudited) of PT
AKR Corporindo Tbk and
Subsidiaries
4. October Discussion of the
23, 2024 Consolidated Financial
Statements as of
September 30, 2024, and
✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
for the nine-month period
then ended (unaudited)
of PT AKR Corporindo Tbk
and Subsidiaries
Number of Meetings 4 4 4 4 4 4 4 4 4 4
Attendance 4 4 4 4 4 4 3 4 4 4
% Attendance 100% 100% 100% 100% 100% 100% 75% 100% 100% 100%
Details
GIK : Soegiarto Adikoesoemo HAR : Haryanto Adikoesoemo
SDJ : Sofyan A. Djalil JTA : Jimmy Tandyo
FIC : Mohamad Fauzi Maulana Ichsan BSU : Bambang Soetiono Soedijanto
MES : Mery Sofi
SVE : Suresh Vembu
NPO : Nery Polim
TER : Termurti Tiban

Implementation of Board of Directors Meetings

The Board of Directors’ meetings evaluate operational Board of Directors and Board of Commissioners of Issuers or
performance, discuss business strategies, and make key Public Companies and the complete provisions and rules are
decisions regarding the management of the Company. outlined in the Board Charter.
Meetings are required to be held at least once a month or
whenever deemed necessary by a member of the Board of Each meeting is documented through meeting minutes, which
Directors or at the request of the Board of Commissioners. record the agenda, discussion results, decisions made, and
Joint meetings between the Board of Directors and the necessary follow-up actions. The minutes are prepared by the
Board of Commissioners must be held at least once every Company Secretary and signed by the meeting chairperson
four months. and all attending members and every member has the right
to receive a copy of the meeting minutes, regardless of their
At least 75% of the meetings in a year must be attended by attendance. Decision-making in the meetings requires a
all members of the Board of Directors, and every strategic quorum of at least two-thirds (2/3) of the members.
policy and decision must be made through these meetings,
considering the provisions of the Articles of Association and In 2024, the Board of Directors conducted 11 (eleven)
applicable laws and regulations. Meetings are conducted meetings, along with 4 (four) joint meetings with the Board of
in accordance with the Company's Articles of Association Commissioners. The agenda and attendance is as follows:
and OJK Regulation No. 33/POJK.04/2014 concerning the

Participants
No Date Agenda
HAR JTA BSU MES SVE NPO TER

Monthly Performance
1 January 22, 2024 ✓ ✓ ✓ ✓ ✓ ✓ ✓
Review
Monthly Performance
2 February 20, 2024 ✓ ✓ ✓ ✓ ✓ ✓ ✓
Review

Annual Report 2024 197

 Corporate Governance

Participants
No Date Agenda
HAR JTA BSU MES SVE NPO TER

Monthly Performance
3 March 20, 2024 ✓ ✓ ✓ ✓ ✓ ✓ ✓
Review
Monthly Performance
4 April 22, 2024 ✓ ✓ ✓ ✓ ✓ ✓ ✓
Review
Monthly Performance
5 May 20, 2024 ✓ ✓ ✓ ✓ x ✓ ✓
Review
Monthly Performance
6 June 21, 2024 ✓ ✓ ✓ ✓ x ✓ ✓
Review
Monthly Performance
7 July 19, 2024 ✓ ✓ ✓ ✓ ✓ ✓ ✓
Review
Monthly Performance
8 August 28, 2024 ✓ ✓ ✓ ✓ ✓ ✓ ✓
Review
September 20, Monthly Performance
9 ✓ ✓ ✓ ✓ ✓ ✓ ✓
2024 Review
Monthly Performance
10 October 21, 2024 ✓ ✓ ✓ ✓ ✓ ✓ ✓
Review
November 21, Monthly Performance
11 ✓ ✓ ✓ ✓ ✓ ✓ ✓
2024 Review
Number of Meetings 11 11 11 11 11 11 11
Attendance 11 11 11 11 9 11 11
% Attendance 100% 100% 100% 100% 82% 100% 100%
Details
HAR : Haryanto Adikoesoemo
JTA : Jimmy Tandyo
BSU : Bambang Soetiono Soedijanto
MES : Mery Sofi
SVE : Suresh Vembu
NPO : Nery Polim
TER : Termurti Tiban

Performance Assessment of the Board of

Commissioners and Board of Directors
The performance assessment of the Board of Commissioners, Similarly, the performance evaluation of the Board of
both individually and collectively, must be conducted at least Directors, both individually and collectively, must be
once a year through a self-assessment method or other, conducted at least once a year to ensure the effectiveness of
either by internal evaluation or through a third party. The key their duties and responsibilities. The performance assessment
performance indicators for the Board of Commissioners of directors is based on the execution of their tasks according
include: to the Company's performance targets, whether by
1. Execution of duties and responsibilities in accordance with evaluating financial statements, financial ratios, market share
the Board of Commissioners' work guidelines; achievements, or other key performance components as
2. Attendance and active participation in Board of outlined in the directors’ key performance indicators.
Commissioners meetings;
3. Attendance and active participation in committee The assessment for the Board of Directors includes:
meetings (if serving as a committee member); 1. Execution of duties and responsibilities in accordance with
4. Suggestions and input provided in the company's the Board of Directors' work guidelines;
supervisory process; 2. Execution of duties and responsibilities of each individual
5. Involvement in specific assignments; and director;
6. Compliance with applicable laws and regulations, as well as
company policies.

198 Annual Report 2024

3. Implementation of decisions made in the general meeting Assessment results are reported to shareholders, who have
of shareholders (GMS); the authority to dismiss board members whose performance
4. Achievement of the company's performance targets in: does not meet expectations through the GMS mechanism. In
a. financial aspects; 2024, all members of the Board of Commissioners and Board
b. operational aspects; of Directors performed their functions effectively. This is
c. administrative aspects; based on the Company's compliance with applicable laws and
5. Compliance with applicable laws, regulations, and corporate governance best practices. Furthermore, AKR has
company policies. maintained a positive financial and operational performance,
recording net profit growth of 19% over the past 15 years.
The assessment process is based on objective parameters,
including individual and collective contributions, effectiveness
in supervision and management, and achievement of financial
and operational performance targets, and results serve as
a basis for capacity development, strategic improvements,
and corporate governance enhancement. Through a
transparent and systematic evaluation mechanism, the Board
of Commissioners and the Board of Directors continue to
contribute to achieving sustainable business growth.

Nomination and Remuneration Policy for

the Board of Commissioners and Board of
Directors
Nomination Policy

Nomination Procedure for the Board of Commissioners and The criteria and requirements for appointing candidates for
Board of Directors the Board of Commissioners refer to OJK Regulation No. 33/
POJK.04/2014 concerning the Board of Directors and Board
The nomination process considers the competence, of Commissioners of Issuers or Public Companies. Candidates
experience, and integrity of candidates in line with the who meet the criteria will be selected and appointed with the
Company's strategic needs and is conducted transparently approval of the GMS. The criteria include:
and objectively, referring to the provisions of the Articles of 1. The Board of Commissioners must consist of at least two
Association, applicable laws and regulations, and corporate members, including an independent commissioner, whose
governance principles. number is adjusted according to the requirements of the
applicable Capital Market regulations. One member of
The Nomination and Remuneration Committee is responsible the Board of Commissioners is appointed as president
for reviewing and planning the succession of candidates commissioner.
for the Board of Commissioners and the Board of Directors. 2. Eligible candidates for the Board of Commissioners may be
This includes evaluating qualifications, track records, and Indonesian citizens and/or foreign nationals who meet the
the alignment of candidates with the Company's vision and requirements for appointment as commissioners based on
mission. The final decision regarding the appointment and/or OJK regulations and other applicable laws.
replacement of members of the Board of Commissioners and 3. The composition of the Board of Commissioners should
the Board of Directors is determined in the General Meeting of reflect diversity in expertise, experience, education,
Shareholders (GMS) to ensure legitimacy and full support from nationality, age, gender, and independence.
shareholders. 4. Must have good character and moral integrity.
5. Must possess integrity and a good reputation, meaning
Appointment Criteria for the Board of Commissioners they have never been directly or indirectly involved in fraud,
unethical practices, breaches of contract, or any actions
Through the General Meeting of Shareholders (GMS), the that harm the company where they are or have been
Company has the authority to appoint and dismiss members employed.
of the Board of Commissioners, including determining their 6. Within the five years before appointment and during tenure:
remuneration. The Nomination and Remuneration Committee a. Has never been declared bankrupt.
reviews the profile and qualifications of each candidate in b. Has never served as a director or commissioner found
nomination meetings and provides recommendations to the guilty of causing a company to be declared bankrupt.
Board of Commissioners for submission to the GMS.

Annual Report 2024 199

 Corporate Governance

c. Has never been convicted of a crime that harmed state 3. The composition of the Board of Directors should reflect
finances and/or related to the financial sector. diversity in expertise, experience, education, nationality,
d. Has never been a director or commissioner who, while age, gender, and independence.
serving: 4. Must have good character, morals, integrity, and a good
• Failed to hold an annual GMS. reputation, with no direct or indirect involvement in fraud,
• Had their accountability as director or commissioner unethical practices, breaches of contract, or any actions
rejected by the GMS or failed to provide that harm the company where they are or have been
accountability to the GMS. employed.
• Caused a company with licenses, approvals, or 5. Must be legally competent to perform legal actions.
registrations from the Financial Services Authority 6. Within the five (5) years before appointment and
(OJK) to fail in submitting annual reports and/or during tenure:
financial reports to OJK. a. Has never been declared bankrupt by a court.
e. Must demonstrate commitment to complying with b. Has never been a director or commissioner found guilty
applicable laws and regulations. of causing a company to be declared bankrupt.
f. Must have competence, ability, and experience relevant c. Has never been convicted of a criminal offense
to the duties and responsibilities of the Board of that harmed state finances and/or related to the
Commissioners. financial sector.
g. Must have adequate and relevant knowledge and d. Has never been a director or commissioner who, while
experience for the position. serving:
• Failed to hold an annual GMS.
Appointment Criteria for the Board of Directors • Had their accountability as a director or
commissioner rejected by the GMS or failed to
The authority to appoint and dismiss members of the Board provide accountability to the GMS.
of Directors, including determining their remuneration, is • Caused a company with licenses, approvals, or
exclusively held by the General Meeting of Shareholders registrations from the Financial Services Authority
(GMS). The controlling shareholder may recommend (OJK) to fail in submitting annual reports and/or
candidates for the Board of Directors. The Nomination and financial reports to OJK.
Remuneration Committee will then review the profile and 7. Must demonstrate commitment to complying with
qualifications of each candidate and present them to the applicable laws and regulations.
Board of Commissioners for submission to the GMS. 8. Must have competence, including skills and experience
in fields relevant to the duties and responsibilities of the
The criteria and requirements for appointing candidates Board of Directors.
for the Board of Directors refer to OJK Regulation No. 33/ 9. Must have a good character and the ability to develop the
POJK.04/2014 concerning the Board of Directors and Board business for the company’s growth.
of Commissioners of Issuers or Public Companies. Candidates 10.Must have adequate and relevant knowledge and
who meet the criteria will be selected and appointed with the experience for the position.
approval of the GMS. The criteria include: 11. Members of the Board of Directors may concurrently
1. The Board of Directors must consist of at least three serve as:
members, with one (1) of them appointed as president 12. A director in no more than one other issuer or public
director. company.
2. Eligible candidates for the Board of Directors may be 13. A commissioner in no more than three (3) other issuers or
Indonesian citizens and/or foreign nationals who meet the public companies.
requirements for appointment as directors based on OJK 14. A committee member in no more than five (5) committees
regulations and other applicable laws. in issuers or public companies where they also serve as a
director or commissioner.

200 Annual Report 2024

 Remuneration Policy

Procedure for Determining the Remuneration of the Board The Nomination and Remuneration Committee is responsible
of Commissioners and Board of Directors for conducting assessments and providing recommendations
regarding the structure, policies, and amount of remuneration
Determination is conducted transparently and objectively, to the Board of Commissioners. Subsequently, the
taking into account the performance, responsibilities, and remuneration for the Board of Commissioners and the Board
contributions of each member in managing and supervising of Directors is determined by shareholders in the GMS.
the Company. This process refers to the provisions of the Proposals for remuneration are submitted by the Board of
Articles of Association, applicable laws and regulations, and Commissioners. The Company ensures that the remuneration
corporate governance practices. policy remains competitive, aligns with performance
achievements, and is capable of attracting and retaining top
talent in corporate leadership. The remuneration procedure
for members of the Board of Commissioners and the Board of
Directors is illustrated as follows:

Implementation of Good Performance in the Company’s

Corporate Governance financial and operationals sectors

Comparison between targets Alignment of the Company’s

and actual achievements of Discussion of Performance performance with its vision and
the Company mission

Management achievements in
Strategy and innovation
increasing value for shareholders

Discussion to determine the amount of the proposed remuneration for

the Board of Commissioners and Director

Remuneration proposals for the Directors are presented in

the General Meeting of Shareholders

Remuneration for Board of Commissioners and Directors are determined in the

General Meeting of Shareholders

Total Remuneration of the Board of Commissioners and Board of Directors

The total remuneration in 2024, categorized based on service compensation and post-employment benefits, is as follows:

In Thousands of Rupiah

2024 2023
Description Post-Employment Post-Employment
Current Benefits Current Benefits
Benefits Benefits

Board of
24.366.897 - 21.074.204 -
Commissioners
Board of Directors 107.379.782 2.326.944 97.898.811 2.652.036

Annual Report 2024 201

 Corporate Governance

Supporting Committees of the Board of

Commissioners
In carrying out its supervisory function, the Board of Commissioners is supported by the Audit Committee and the Nomination
& Remuneration Committee, which operate in accordance with their respective Charters. Each committee possesses adequate
competence, expertise, and a background that aligns with the Company's needs.

Audit Committee

The Audit Committee oversees the implementation of undergone several updates, with the latest revision approved
corporate governance and provides recommendations to on March 18, 2024. Periodically, it is evaluated and updated to
the Board of Commissioners regarding the appointment of remain aligned with applicable regulations and provisions. The
a public accountant, considering aspects of independence, charter regulates various aspects, including:
scope of assignment, and service fees. 1. Introduction
2. Purpose and Objectives
In accordance with Financial Services Authority Regulation 3. Responsibilities
No. 55/POJK.04/2015 on the Establishment and Guidelines 4. Task Objectives
for the Implementation of the Audit Committee's Work and 5. Authority
Financial Services Authority Regulation No. 9 of 2023 on the 6. Work Program
Use of Public Accountant and Public Accounting Firm Services 7. Structure and Membership
in Financial Services Activities, every Issuer or Public Company 8. Meetings
is required to have an Audit Committee. 9. Reporting
10.Conclusion
Based on these regulations, the Audit Committee supports
the duties of the Board of Commissioners, including reviewing Composition of the Audit Committee
financial information, risk management, the effectiveness of
internal and external audits, and compliance with laws and The Audit Committee consists of at least three (3) members,
regulations. Additionally, the Audit Committee is responsible one of whom is an Independent Commissioner serving as
for providing recommendations regarding the appointment the Chair. The other members must meet independence
and dismissal of external auditors. requirements, including not being employees of the Company
in the past year and not holding concurrent positions in other
Audit Committee Charter committees during the same period. The composition of the
Audit Committee as of December 31, 2024, is as follows:
The Audit Committee carries out its duties and responsibilities
based on its charter, drafted and approved by the Board
of Commissioners on December 29, 2004. The charter has

Name Position Appointment Term of Office

Mohamad Fauzi Maulana Chair/ Independent Resolution of the Company's Board of

2020-2025
Ichsan Commissioner Commissioners No. 139 dated May 11, 2020
Resolution of the Company's Board of
Sahat Pardede Member 2020-2025
Commissioners No. 139 dated May 11, 2020
Resolution of the Company's Board of
Djisman Simandjuntak Member 2020-2025
Commissioners No. 092 dated March 16, 2020

202 Annual Report 2024

Audit Committee Profiles

Legal Basis of Appointment

Resolution of the Company's Board of Commissioners dated May 11, 2020

Term of Office
1st Term, 2020-2025

Details
The complete profile can be found in the Company Profile section of this Annual Report.

Mohamad Fauzi
Maulana Ichsan
Chair of the Audit Committee

Legal Basis of Appointment

Resolution of the Company's Board of Commissioners No. 139 dated May 11, 2020

Educational Background
∙ Graduated from the State College of Accountancy (STAN) (1989); and
∙ MBA from Saint Mary’s University, Canada (1993).

Career History
∙ Partner at Independent Public Accounting Firm Sahat Handoko & Partners
(2001 - present);
∙ Auditor at the Financial and Development Supervisory Agency (1983-2000).

Sahat Pardede Concurrent Positions

∙ Member of the Audit Committee of PT Petrosea Tbk (2022 - present);
Member of the Audit Committee ∙ Member of the Audit Committee of PT Semen Indonesia (Persero) Tbk
Term of Office (2021 - present);
2nd Term, 2020-2025 ∙ Member of the Audit Committee of PT Bank Rakyat Indonesia (Persero) Tbk
(2020 - present).
Place and Date of Birth Age
Balige, October 3, 1961 63 years old
Affiliation
Nationality Domicile Has no affiliation with members of the Board of Commissioners, Board of Directors,
Indonesia East Jakarta, or the Controlling Shareholder.
DKI Jakarta

Annual Report 2024 203

 Corporate Governance

Legal Basis of Appointment

∙ Resolution of the Company's Board of Commissioners No. 092 dated
March 16, 2020

Educational Background
∙ Ph.D. in Economics, Faculty of Economics and Social Sciences, University of
Cologne, Germany (1983);
∙ Diploma in Monetary Economics and Public Finance, Faculty of Economics and
Social Sciences, University of Cologne, Germany (1979);
∙ Bachelor's Degree in Management Economics, Faculty of Economics,
Parahyangan Catholic University, Bandung (1973).

Djisman Career History

Simandjuntak
∙ Co-Founder, Chairman, Advisory Board, The Indonesian Institute for Corporate
Directorship (IICD) (1999-2011);

Member of the Audit Committee ∙ Research Consultant, Asian Development Bank (1980-1990);
∙ Auditor, SGV-Utomo, Jakarta (1973–1974).
Term of Office
1st Term, 2020-2025
Place and Date of Birth Age Concurrent Positions
Sipahutar – North 78 years old ∙ President and Independent Commissioner of PT Indo Tambangraya Megah Tbk
Tapanuli, Januari 1, 1947 (2018 - present);

Nationality Domicile ∙ Professor of Business Economics and Rector of Prasetiya Mulya University (2016 -
Indonesia East Jakarta, present);
DKI Jakarta ∙ President Commissioner of PT Indoritel Makmur Internasional Tbk (2015 - present);
∙ Independent Commissioner of PT Asuransi MSIG Indonesia (2012 - present);
∙ Chairman, Board of Directors, Centre for Strategic and International Studies
(CSIS) Foundation (2005 - present);
∙ President Commissioner of PT Indomarco Prismatama Tbk (2000 - present).

Affiliation
Has no affiliation with members of the Board of Commissioners, Board of Directors,
or the Controlling Shareholder.

Independence of the Audit Committee

Each member of the Audit Committee has met the established independence standards and carries out their duties and
responsibilities professionally, in accordance with the provisions set out in the Financial Services Authority Regulation No. 55/
POJK.04/2015 on the Establishment and Implementation Guidelines for the Audit Committee. The following table presents the
level of independence of each Audit Committee member.

Mohamad Fauzi Djisman

Independence Sahat Pardede
Maulana Ichsan Simandjuntak

Has no financial relationship with the Board of

✓ ✓ ✓
Commissioners and the Board of Directors
Has no managerial relationship with AKR, its
✓ ✓ ✓
subsidiaries, or affiliated companies
Has no share ownership relationship in AKR ✓ ✓ ✓
Has no family relationship with the Board of
Commissioners, Board of Directors, and/or fellow ✓ ✓ ✓
Audit Committee members
Does not hold a position as a political party official,
✓ ✓ ✓
government official, or civil servant

204 Annual Report 2024

Duties, Responsibilities, and Authority of the Audit Audit Committee Functions
Committee
The Audit Committee has key functions, including:
The Audit Committee Charter outlines the detailed duties and 1. Reporting the results of risk management evaluations to
responsibilities of the Audit Committee, as follows: the Board of Commissioners to mitigate potential risks that
1. Reviewing financial information to be issued, including may disrupt business operations.
financial statements, projections, and other reports related 2. Regularly evaluating the performance of the Company
to financial information. and its subsidiaries (quarterly, semi-annually, and
2. Reviewing compliance with laws and regulations. annually) regarding business target achievements, market
3. Providing an independent opinion to the Board of conditions and trends, future performance projections,
Commissioners regarding disagreements between reporting findings, and providing recommendations to
management and accountants. improve the performance of the Commissioners.
4. Providing information to the Board of Commissioners 3. Presenting reports prepared by the Board of Directors
regarding the appointment of accountants based on professionally and independently.
independence, scope of work, and service fees. 4. Collaborating with Internal Audit to assess documentation
5. Reviewing audits conducted by internal auditors and procedures and recommended management practices
overseeing follow-ups on internal audit findings. from the operational division to enhance financial
6. Reviewing the implementation of risk management transaction performance and reporting systems.
activities carried out by management. 5. Discussing business environment developments by
7. Examining complaints related to accounting processes identifying potential opportunities for improving the
and financial reporting. Company’s performance.
8. Reviewing and providing recommendations to the Board 6. Ensuring that the Company’s financial statements comply
of Commissioners regarding potential conflicts of interest. with established accounting principles.
9. Maintaining the confidentiality of documents, data, and 7. Ensuring the implementation of an effective internal control
information. system, financial reporting processes, and good corporate
governance (GCG) within the Company.
The Audit Committee has the authority to:
1. Access data, documents, and other information regarding Audit Committee Meetings
employees, funds, assets, and company resources
as needed. The Audit Committee Charter stipulates that meetings should
2. Communicate directly with employees, including the Board be held at least once every three (3) months. By the end of
of Directors, internal auditors, and accountants, regarding 2024, the Audit Committee has held 10 meetings with the
its duties and responsibilities. following agenda and meeting recap:
3. Involve independent external parties, if necessary, to assist
in carrying out its duties, at the Company's expense, with
the approval of the Board of Commissioners.
4. Exercise other authorities granted by the Board of
Commissioners.

Audit Committee Attendance

Date Topic
FIC SP DS

February 15, 2024 Internal Audit Report for the period October - December 2023 ✓ ✓ ✓
March 4, 2024 Update Progress Audit Meeting with AC - PT AKR Corporindo Tbk ✓ ✓ ✓
March 18, 2024 AC Meeting for the Financial Statements for the Fiscal Year 2023 ✓ ✓ ✓
April 23, 2024 AC Pre-Meeting for the Financial Statements Q1 2024 ✓ ✓ ✓
May 7, 2024 Internal Audit Report for the period January - March 2024 ✓ ✓ ✓
July 22, 2024 AC Pre-Meeting for the Financial Statements Q2 2024 ✓ ✓ ✓
July 26, 2024 Internal Audit Report for the period April - June 2024 ✓ ✓ ✓
October 23, 2024 AC Pre-Meeting for the Financial Statements Q3 2024 ✓ ✓ ✓
November 13, 2024 Internal Audit Report for the period July - September 2024 ✓ ✓ ✓
December 9, 2024 Schedule of Audit Meetings for PT AKR Corporindo Tbk ✓ ✓ ✓
Total Meetings 10 10 10
Total Attendance 10 10 10
% Attendance 100% 100% 100%
Details
FIC : Mohamad Fauzi Maulana Ichsan
SP : Sahat Pardede
DS : Djisman Simandjuntak

Annual Report 2024 205

 Corporate Governance

Implementation of Audit Committee Duties in 2024 4. Review of Risk Management and Internal Control
Effectiveness: The Audit Committee monitors and
The Audit Committee conducted its duties and responsibilities evaluates the risks faced by the company, the effectiveness
in supporting the Board of Commissioners and performed its of risk mitigation strategies applied, and the evaluation of
supervisory function in accordance with the provisions of the the internal control effectiveness.
Audit Committee Charter. As of December 31, 2024, the Audit 5. Evaluation of Internal Audit Performance: The Audit
Committee achieved several objectives or targets as follows: Committee has reviewed and approved the Internal Audit
1. Oversight of the Financial Reporting Process: The Audit work plan, examined audit results, and provided input for
Committee has reviewed the Company’s quarterly, semi- improving the effectiveness of the Internal Audit function in
annual, and annual financial statements before publication supporting good corporate governance.
to ensure that the financial statements are prepared in
accordance with the Financial Accounting Standards in The Audit Committee regularly holds meetings with relevant
Indonesia. parties, such as independent auditors, the internal audit unit,
2. Oversight of the Audit Process by Independent Auditors and Company management. During these meetings, various
(Public Accounting Firm - KAP): The Audit Committee has issues related to financial reporting are discussed, including
provided oversight of the audit process conducted by the monitoring and evaluation of the independence of the
the KAP for the annual financial statement audit, including independent auditor, and providing objectivity in the event
the audit scope and methodology used to maintain audit of any differences of opinion between management and the
quality, and discussed audit findings to ensure that the independent auditor.
financial statements are fairly presented.
3. Oversight of Compliance with Regulations and Company Audit Committee Recommendations
Policies: The Audit Committee ensures that the company
complies with all applicable laws and regulations, including The Audit Committee provides recommendations to the
those from the Financial Services Authority (OJK) and the Board of Commissioners. At the end of 2024, several
Indonesia Stock Exchange (BEI), as well as the company’s recommendations have included:
internal policies.

No Letter Number Date Subject

Recommendation for the Public Accounting Firm (KAP)

to conduct a General Audit of the Consolidated Financial
1. 001-L-AUKOM-2024 April 22, 2024
Statements of PT AKR Corporindo Tbk and its subsidiaries
for the 2024 fiscal year.
Report on the Evaluation Results of the Audit Committee
2. 002-L-AUKOM-2024 June 14, 2024 of PT AKR Corporindo Tbk on the audit of the Company's
Consolidated Financial Statements for the 2023 fiscal year.

Audit Committee Competency Development

AKR encourages the participation of the Audit Committee in training programs, both formal and informal. In 2024, the Audit
Committee participated in various competence development programs as follows:

Name and
No Title Date Location Organizer
Position

1. Mohamad
Fauzi Maulana Ministry of
Ichsan Preparation and Implementation of PSAK State-Owned
July 23, 2024
Chair of 117 Insurance Contracts Enterprises
the Audit (SOEs)
Committee
2. Sahat Pardede Indonesian
May 14-17, Hotel Bintang Bali
Member of PSAK Terkini sesuai Konvergensi IFRS Institute of
2024 Resort, Bali
the Audit Accountants
Committee
PPL Khusus OJK - IAPI Tahun 2024 bagi Indonesian
November 13,
Akuntan Publik Terdaftar dI OJK Sektor Jakarta Institute of Public
2024
Perbankan Batch 3 Accountants
Indonesian
Financial Modeling dan Pengambilan October 25,
Jakarta Institute of Public
Keputusan Stratejik Bidang Keuangan 2024
Accountants

206 Annual Report 2024

 Name and
No Title Date Location Organizer
Position

Financial
Profession
August 17,
PPL Wajib Akuntan Publik 2024 - Batch 6 Jakarta Development
2024
Center, Ministry
of Finance
PPL Sektor Pasar Modal OJK – IAPI
Manajemen Risiko dan Pertimbangan
Financial Services
Khusus dalam Audit Laporan Keuangan June 5, 2024 Jakarta
Authority
di Sektor Pasar Modal dan Pasar Modal
Syariah

Nomination and Remuneration Committee

The Nomination and Remuneration Committee assists in Criteria for Members of the Nomination and Remuneration
the supervision of nomination and remuneration functions Committee
regarding the members of the Board of Commissioners
and Board of Directors. The role ensures that the selection The Nomination and Remuneration Committee is responsible
process, performance evaluation, and determination of for the nomination process of members of the Board of
remuneration are carried out objectively, transparently, Commissioners and Board of Directors by setting appropriate
and in accordance with the principles of Good Corporate criteria and conducting the fit and proper test. The results are
Governance. then submitted to the Board of Commissioners.

AKR established the Nomination and Remuneration Additionally, the Nomination and Remuneration Committee
Committee with reference to OJK Regulation No. 34/ evaluates the performance of the Board of Commissioners
POJK.04/2014 dated December 8, 2014, regarding the and Board of Directors, which serves as the basis for
Nomination and Remuneration Committee for Issuers or determining remuneration, and the proposal is submitted
Public Companies. to the Board of Commissioners for approval by the General
Meeting of Shareholders (GMS).
Nomination and Remuneration Committee Charter
Members of the Nomination and Remuneration Committee
The charter is a guideline that regulates the committee’s must meet the established criteria, which are as follows:
duties, responsibilities, authority, and working mechanisms 1. Have a good understanding of the vision, mission, and work
in supporting the Board of Commissioners. The charter was culture of the Company.
approved by the Board of Commissioners on March 31, 2015. 2. Possess high integrity, adequate skills, knowledge, and
work experience.
The charter is periodically evaluated and updated, in 3. Do not have personal interests that may result in a negative
accordance with applicable regulations and provisions and impact or a conflict of interest with the Company.
includes various aspects related to the duties and obligations 4. Have sufficient time to perform their duties.
of the Nomination and Remuneration Committee, including: 5. Be able to communicate and collaborate effectively.
1. Introduction 6. Specifically, for the committee chair who also serves as an
2. Organizational Structure Independent Commissioner, the general rule applies that
3. Committee Member Requirements the individual must have no relationship with the Company;
4. Responsibilities members of the Board of Directors; members of the Board
5. Duties of the Nomination and Remuneration Committee of Commissioners; or controlling shareholders and must
6. Authority, Rights, and Obligations not hold shares in the Company.
7. Nomination and Remuneration Committee Meetings
8. Term of Office of the Nomination and Remuneration
Committee
9. Closing

Annual Report 2024 207

 Corporate Governance

Composition of the Nominatio and Remuneration Committee

The composition as of December 31, 2024 is as follows:

Name Position Appointment Term of Office

Resolution of the Board of Commissioners of PT

Mohamad Fauzi Maulana Chair/Independent AKR Corporindo Tbk on the Appointment of the
2020-2025
Ichsan Commissioner Nomination and Remuneration Committee No.
140 dated May 11, 2020.
Resolution of the Board of Commissioners of PT
AKR Corporindo Tbk on the Appointment of the
Soegiarto Adikoesoemo Member 2020-2025
Nomination and Remuneration Committee No.
140 dated May 11, 2020.
Resolution of the Board of Commissioners of PT
AKR Corporindo Tbk on the Appointment of the
Felix Abednego Member 2022-2025
Nomination and Remuneration Committee No.
082 dated March 18, 2022.

Profiles

Legal Basis of Appointment

Mohamad Fauzi Resolution of the Board of Commissioners of PT AKR Corporindo Tbk on the
Appointment of the Nomination and Remuneration Committee No. 140 dated

Maulana Ichsan May 11, 2020.

Chair of the Nomination and

Remuneration Committee Details
Term of Office The complete profile can be found in the Company Profile section of this Annual
1st Term, 2020-2025 Report.

Legal Basis of Appointment

Soegiarto Resolution of the Board of Commissioners of PT AKR Corporindo Tbk on the

Appointment of the Nomination and Remuneration Committee No. 140 dated

Adikoesoemo May 11, 2020.

Member of the Nomination and

Remuneration Committee Details
Term of Office
The complete profile can be found in the Company Profile section of this Annual
1st Term, 2020-2025
Report.

Legal Basis of Appointment

Felix Abednego Resolution of the Board of Commissioners of PT AKR Corporindo Tbk on the
Appointment of the Nomination and Remuneration Committee No. 082 dated
Member of the Nomination and March 18, 2022.
Remuneration Committee
Term of Office
Details
1st Term, 2022-2025
The complete profile can be found in the Company Profile section of this Annual
Report.

Nomination and Remuneration Committee Independence Duties and Responsibilities of the Nomination and
Remuneration Committee
The Nomination and Remuneration Committee carries out
its duties independently, objectively, and free from the The Nomination and Remuneration Committee Charter details
influence of any party to ensure fair and transparent decision- duties and responsibilities, as outlined below:
making. This is supported by the Chair of the Nomination and
Remuneration Committee, who serves as an Independent Regarding Nomination
Commissioner.Tugas dan Tanggung Jawab Komite Nominasi 1. Review and evaluate the performance of each member of
dan Remunerasi the Board of Directors and the Board of Commissioners
concerning the corporate culture applied in the company,
the implementation of Good Corporate Governance,

208 Annual Report 2024

 overall company operations, actual company Authority, Rights, and Obligations
achievements, alignment between the company’s vision The Nomination and Remuneration Committee has the
and mission, conformity with implemented strategies following rights and obligations:
and innovations, and achievements in increasing 1. The Nomination and Remuneration Committee may access
shareholder value. records or information regarding employees, funds, assets,
2. Based on the above, discussions are held to determine and other company resources related to the execution of
recommendations for new members of the Board of its duties.
Directors and/or Board of Commissioners to be submitted 2. In carrying out its duties, the Nomination and Remuneration
to the Board of Commissioners, which will subsequently be Committee may collaborate with the human resources,
used as material for discussion at the General Meeting of finance, and other relevant departments.
Shareholders (GMS). 3. The Nomination and Remuneration Committee may
3. Perform other nomination-related tasks assigned by the cooperate with third parties with the approval of the Board
Board of Commissioners. of Commissioners.
4. Each member of the Nomination and Remuneration
Regarding Remuneration Committee must perform their duties properly and
1. Review and evaluate the performance of each member of maintain the confidentiality of all company documents,
the Board of Directors and the Board of Commissioners data, and information. Such documents, data, and
concerning the implementation of good corporate information may only be used for the purpose of executing
governance, overall operations, actual achievements, the Committee’s duties.
alignment between the vision and mission, conformity with 5. In performing its duties, the Nomination and Remuneration
strategies and innovations, and achievements in increasing Committee must consider aspects such as the company's
shareholder value. financial performance, individual work achievements,
2. Based on the above, discussions are then held to fairness, long-term company goals and strategies, and
determine the amount of remuneration for the members other relevant considerations.
of the Board of Directors and the Board of Commissioners, 6. The Nomination and Remuneration Committee prepares a
which will be submitted to the Board of Commissioners and work plan to be submitted to the Board of Commissioners.
subsequently used as material for discussion at the General 7. The Nomination and Remuneration Committee must
Meeting of Shareholders (GMS). submit a report on the execution of its duties to the Board
3. Perform other remuneration-related tasks assigned by the of Commissioners.
Board of Commissioners.
Nomination and Remuneration Committee Meeting

The Nomination and Remuneration Committee’s Charter

stipulates that meetings must be held at least once every
four (4) months. In 2024, the Nomination and Remuneration
Committee held a total of 3 (three) meetings, with agendas
and summaries as follows:

Attendance
Date Topics
FIC SA FA

Discussion on the Remuneration Structure and Amount for Members

January 19, 2024 ✓ ✓ ✓
of the Board of Commissioners and Board of Directors
Discussion on the Performance Evaluation of Members of the Board
July 25, 2024 ✓ ✓ ✓
of Directors and Board of Commissioners
December 18, Discussion on the Remuneration Amount for Members of the Board
✓ ✓ ✓
2024 of Commissioners for 2024
Total Meetings 3 3 3
Total Attendance 3 3 3
% Attendance 100% 100% 100%
Details
FIC : Mohamad Fauzi Maulana Ichsan
GIK : Soegiarto Adikoesoemo
FA : Felix Abednego

Implementation of Duties of the Nomination and As of December 31, 2024, the implementation of duties was as
Remuneration Committee in 2024 follows:
1. Determining the remuneration structure and amount for the
The Committee fulfilled its responsibilities in assisting Board of Commissioners and Directors for 2024.
the Board of Commissioners in in line with its Charter, 2. Evaluating the performance of the Board of Commissioners
including overseeing the relationship between the Board of and Directors.
Commissioners and the Board of Directors, evaluating the 3. Providing input on the talent development process within
performance of the Board of Directors and the Company’s the Company, particularly for filling strategic positions.
achievements, and assessing remuneration for Directors and
Commissioners.

Annual Report 2024 209

 Corporate Governance

Board of Directors Succession Policy 3. Implementation of fit and proper tests for new candidates
who will replace a member of the Board of Directors.
The succession policy ensures effective leadership continuity 4. Approval of the appointment of new members of the Board
and supports the achievement of the Company’s long-term of Directors by the Shareholders.
strategic goals by identifying, developing, and preparing
potential candidates with the necessary competencies, Competency Development of the Nomination and
experience, and leadership values aligned with the Company’s Remuneration Committee
vision and mission.
The Company encourages each member of the Nomination
The Nomination and Remuneration Committee plays a role in and Remuneration Committee to participate in both formal
assessing and providing recommendations on succession and informal training programs. By of the end of 2024, the
planning for members of the Board of Directors and/or Nomination and Remuneration Committee had attended the
the Board of Commissioners. The nomination process following program:
is conducted with full transparency, and adheres to the
Company's needs, conditions, and applicable laws and
regulations.

The Board of Directors Succession Program is as follows:

1. Education and training programs are conducted either
internally or by external parties.
2. Delegation of authority.

No Name and Position Title Date Venue Organizer

Mohamad Fauzi
Maulana Ichsan Ministry of
Chairman of the Preparation and Implementation State-Owned
1. July 23, 2024 -
Nomination and of PSAK 117 Insurance Contracts Enterprises
Remuneration (SOEs)
Committee

Other Committees Under the Board of

Commissioners
At the end of 2024, the Company did not operate any additional committees other than the Audit Committee and the Nomination
and Remuneration Committee. Therefore, information related to other committees, such as member identities, independence,
duties and responsibilities, activity implementation, and meeting frequency is not available.

210 Annual Report 2024

Supporting Committees of the
Board of Directors
ESG Committee

The ESG Committee is responsible for ensuring the Position of the ESG Committee
implementation of sustainability strategies. Its establishment
reflects the Company’s commitment and support for Within the organizational structure, the ESG Committee
sustainable development, particularly in the aspects of operates under the Board of Commissioners and the Board
Environmental, Social, and Governance. of Directors, reporting directly to the Board of Directors
in formulating strategies, policies, and overseeing the
The committee’s primary duties include formulating implementation of ESG aspects. The committee serves as
sustainability policies, monitoring compliance with ESG an advisor to the Board of Directors, ensuring that all ESG
standards, and evaluating the performance of sustainability initiatives align with the Company’s vision, mission, and
initiatives. The committee developed and signed a Charter sustainability strategy.
on January 20, 2023, as a guideline for its duties and
responsibilities.

BOD - BOC

ESG Committee

ESG Task Force

AKR Logistics and Supple

bp Joint Ventures,
Chain Operations, ATI, JIPE Industrial Estate Port,
AKR Trading & Distribution Manufacturing and New
AST, Including Network & Utilities and Operations
Initiatives
Operations, JTT

ESG Committee Composition The ESG Committee also leads the ESG Task Force, which
consists of senior employees from various divisions. The
To ensure optimal implementation of sustainability, the Chair of ESG Task Force functions as a working team that supports
the ESG Committee reports directly to the President Director, the implementation of sustainability policies and initiatives
under the supervision of the Independent Commissioner. With across operational lines. Below is the composition of the ESG
the delegated authority to carry out sustainability initiatives, Committee members, with each member’s profile available in
AKR supports the application of sustainability principles the Company Profile section of this Annual Report.
across all business units while overseeing the effectiveness of
each step taken.

Name Position

Mohamad Fauzi Maulana Ichsan Independent Commissioner

Haryanto Adikoesoemo Chair of the ESG Committee and President Director
Member
Jimmy Tandyo CEO AKR Business Unit
Mery Sofi Deputy CEO AKR Business Unit

Annual Report 2024 211

 Corporate Governance

Name Position

Bambang Soetiono Soedijanto CEO of the Industrial Estate Segment

Suresh Vembu Group Director & Company Secretary
Felix Abednego Head of Human Resource Division

Duties and Responsibilities 5. Evaluating the effectiveness of communication in

disseminating AKR’s sustainability policies to internal and
The ESG Committee supports the Board of Directors and external stakeholders.
the Board of Commissioners in overseeing various ESG- 6. Participating in the development of public policies related
related aspects, including climate change impact, energy, to the impact of climate change and the environment.
natural resource conservation, environment, supply chain,
human rights, diversity and inclusion, and other relevant ESG Implementation of ESG Committee Duties
issues for the Company. It also acts as a guide for the Board
of Commissioners and the Board of Directors in overseeing The ESG Committee, together with the AKR ESG Task Force,
the development of the Company’s ESG strategy, while has developed the AKR Sustainability House: Progressing with
also collaborating with the ESG Task Force to determine Purpose, which consists of four main pillars. These pillars serve
sustainability strategies, formulate targets, and assess as guidelines for implementing sustainability strategies across
the impact and risks of strategy implementation based on all business lines of the Company:
applicable regulations and policies. 1. Our Business Portfolio
2. Our People
The sustainability strategies are developed through two-way 3. Our Communities
communication between the ESG Committee and the ESG 4. Our Conduct
Task Force. The ESG Committee provides recommendations,
while the Task Force reports on field conditions. The duties In 2024, the ESG Committee held one meeting while
and responsibilities of the ESG Committee include: conducting its duties and responsibilities, including:
1. Reviewing business processes and identifying 1. Formulating AKR Horizon 2030 as the AKR Sustainability
and managing the impact of AKR’s operations on Progress Tracker.
environmental, social, and governance aspects. 2. Monitoring the implementation of the 2024 ESG programs.
2. Monitoring and analyzing regulations and developments 3. Providing direction on necessary adjustments to ESG
in Indonesian and international sustainability standards, programs and targets.
determining relevant materials for AKR, and providing
recommendations to the highest level of the ESG Task
Force to formulate appropriate sustainability strategies,
policies, targets, and guidelines for AKR.
3. Periodically reviewing AKR’s sustainability strategies,
policies, targets, and guidelines.
4. Regularly assessing AKR’s sustainability performance
across all aspects of AKR’s Sustainability Commitment.

Company Secretary

The Company Secretary is responsible for maintaining Mechanism for the Appointment of the Company Secretary
the Company's reputation and establishing effective
communication and good relationships with various parties. The appointment and dismissal of the Company Secretary
As a liaison between AKR and shareholders as well as other are carried out by the Board of Directors with the approval of
stakeholders, they assist the Board of Directors in fostering the Board of Commissioners and the appointment process is
good relations between the Company as an Issuer and reported to the OJK. Overall, it includes the following steps:
regulators, capital market supporting institutions, investors, 1. Identifying the need for a new Company Secretary.
the public, and stakeholders in general. The Company 2. Evaluating candidates from within the Company's
Secretary also manages information related to AKR’s business employees.
environment. 3. Selecting candidates through a fit and proper test involving
the AKR Board of Directors.
The appointment is carried out in accordance with OJK 4. Processing the fit and proper test results by the relevant
Regulation No. 35/POJK.04/2014 concerning Company team to initiate the issuance of a position transfer plan.
Secretaries of Issuers or Public Companies. Through this 5. Confirming the appointment of the Company
strategic role, the Company Secretary also ensures the Secretary, accompanied by the issuance of a Board of
integrity and transparency of the Company’s operations. Directors Decree.
6. Submitting a report on the appointment or dismissal of the
Company Secretary to the OJK.

212 Annual Report 2024

Profile of the Company Secretary 3. Maintaining communication with regulators and submitting
all required reports to relevant Ministries, the Financial
The Company appointed Mr. Suresh Vembu as the Company Services Authority (OJK), and regulatory bodies such as the
Secretary based on the Board of Directors Decree No. 1/L- Indonesia Stock Exchange (IDX), KSEI, and other related
HR/11/2019 dated November 1, 2019. More information can be institutions.
found in the Company Profile section of this Annual Report. 4. Updating the Policy on Share Ownership Reporting by the
Board of Directors and the Board of Commissioners in
Duties and Responsibilities of the Company Secretary accordance with POJK 04 of 2024.
5. Coordinating Board of Directors' Meetings and preparing,
The key functions carried out by the Company Secretary storing, and documenting the minutes of these meetings.
include: 6. Preparing the Company’s Annual Report and
1. Keeping up with developments in the Capital Market, Sustainability Report.
particularly the applicable laws and regulations in the 7. Organizing the Company's Annual General Meeting of
Capital Market sector. Shareholders (AGMS) in Jakarta on April 29, 2024, in a hybrid
2. Providing advice to the Board of Directors and the Board of format via Easy KSEI while implementing health protocols.
Commissioners to ensure compliance with Capital Market 8. Acting as an ESG facilitator by overseeing the
regulations. implementation of ESG initiatives within the Company and
3. Assisting the Board of Directors and the Board of conducting workshops for the ESG Task Force.
Commissioners in implementing corporate governance, 9. Updating the Charters of the Board of Directors and the
which includes: Board of Commissioners.
a. Ensuring information disclosure to the public, including 10.Formulating necessary ESG policies as the Company’s
the availability of information on the Company’s official written statements.
website. 11. Participating in the Public Expose Live 2024 as a
b. Submitting reports to the Financial Services Authority in replacement for the Company’s 2023 Public Expose,
a timely manner. which was held on August 30, 2024, in Jakarta via an online
c. Organizing and documenting the GMS. Zoom webinar.
d. Organizing and documenting meetings of the Board of 12. Executing the distribution of the 2023 Final Dividend and
Directors and/or the Board of Commissioners. the 2024 Interim Dividend.
4. Acting as a liaison between the Company and shareholders, 13. Maintaining external communication with shareholders,
the Financial Services Authority, and other stakeholders. ESG rating agencies, ESG and governance-related
communities, the press, and media, while also educating
Implementation of the Company Secretary’s Duties and promoting corporate governance.

In 2024, the Company Secretary carried out the following Competency Development for the Company Secretary
duties and responsibilities:
1. Keeping up with developments in the Capital Market, AKR encourages participation in both formal and informal
particularly the latest laws and regulations applicable to the training programs and by the end of 2024, the Company
Capital Market sector. Secretary had undertaken the following programs:
2. Providing updates on regulations and relevant issues
related to the Company’s business to the Board of
Directors and the Board of Commissioners.

No Education/Training/Seminar Date Venue Organizer

ESG Investing : What is it and why investors

1 April 25, 2024 Zoom IDX
care about it?"
Setting Your Sail on the Indonesia Carbon
2 June 27, 2024 Zoom IDX
Trading Ecosystem
1. Coordinating Ministry for
Infrastructure & Regional
Indonesia International Sustainability Forum
3 September 5, 2024 Jakarta Development;
2024
2. KADIN;
3. Mckinsey
ESG Risk Ratings - Benefits of Navigating
September 18,
4 Material ESG Risks and Communicating Zoom IDX
2024
Material ESG Risks with Stakeholders
CDP's Webinar "Advancing Nature-based
5 October 22, 2024 Zoom CDPnature
Finance in Asia
6 Responsible Supply Chain December 3, 2024 Zoom IDX
Socialization of Governance Pillars
Ethics (Ethical Behavior, Transparency,
7 May 6, 024 Jakarta IDX & KNKG
Accountability, Sustainability) and Annual
Report Award 2023

Annual Report 2024 213

 Corporate Governance

No Education/Training/Seminar Date Venue Organizer

Value and Benefits of 2024 S&P Global

8 August 13, 2024 Zoom IDX
Corporate Sustainability Assessment (CSA)
1. Center for Environmental,
Social, & Governance
Studies (CESGS)
2. International ESG
Empowering Transformation: Shaping Association (IESGA)
9 August 6-7, 2024 Surabaya
Sustainable Future Leaders 3. Korea University ESG
Research Institute
4. APRU Sustainable Waste
Management Program (APRU
SWM)
The Role and Services of KSEI in the
10 August 26, 2024 Zoom ICSA
Indonesian Capital Market Industry
Understanding Sustainability Assurance:
11 "SR Assurance Based on AA 1000 Standard Ocober 29, 2024 Zoom AEI
& SR Assurance Based on ISAE 3000"
“Interdisciplinary Approaches to Center for Environmental, Social,
12 December 6, 2024 Bali
Developing Sustainable Leadership” & Governance Studies (CESGS)
Socialization of SPE-IDXnet on the
13 Development of AP/KAP Reporting Forms, December 13, 2024 Zoom IDX
Structured Warrants, and ESG

Internal Audit Unit

The Internal Audit Unit supports the President Director by Each revision to the charter is made in accordance with
ensuring the adequacy and implementation of internal control Financial Services Authority (OJK) Regulation No. 56/
processes, risk management, and corporate governance. The POJK.04/2015, which governs the establishment and
establishment of the Internal Audit Unit refers to the Financial guidelines for the formulation of the Internal Audit Unit Charter.
Services Authority (OJK) Regulation No. 56/POJK.04/2015 on The Internal Audit Unit Charter covers various aspects,
the Establishment and Guidelines for the Formulation of the including:
Internal Audit Unit Charter. 1. Vision and Mission of the Internal Audit Unit
2. Functions and Organizational Structure of the Internal
The Internal Audit Unit conducts independent and objective Audit Unit
assurance and consulting activities aimed at adding value 3. Requirements and Development of the Internal Audit Unit
and enhancing the Company’s operational performance. It 4. Authority, Duties, and Responsibilities of the Internal
applies a systematic and disciplined approach to evaluate and Audit Unit
improve the effectiveness of risk management processes, 5. Audit Implementation, Reporting, and Ethics of the Internal
control adequacy, and corporate governance. Audit Unit
6. Limitations of the Internal Audit Unit and Approval by the
Guidelines for the Implementation of the Internal Audit Unit President Director and Board of Commissioners

The Internal Audit Unit Charter serves is a guideline for its

duties and responsibilities was first issued and approved by
the President Director on December 30, 2009. It has since
been updated several times, with the latest revision on August
13, 2015.

214 Annual Report 2024

Vision and Mission of the Internal Audit Unit

Vision Mission
• Assist the Company’s Management
To be an independent, objective, in achieving corporate performance
and professional unit that adds by conducting consulting activities to
enhance efficiency and effectiveness in the
value to support the Company’s
Company’s operations.
Management in achieving its
business objectives, vision, and • Perform assurance functions to ensure
mission. the achievement of Good Corporate
Governance and Operational Excellence.

Internal Audit Organizational Structure

The Internal Audit Unit reports directly to the Board of Directors, with the primary responsibility of conducting independent audits
of the company's operations, finances, and compliance. The Internal Audit Unit is an integral part of the Company's organizational
structure, positioned as follows:

President Director

Head of Internal Audit

Member

Responsibility for Appointing and Dismissing the Head of 3. Selecting candidates through a fit and proper test involving
the Internal Audit Unit the AKR Board of Directors, with special consideration
from the Board of Commissioners assisted by the Audit
This is conducted by the Board of Directors with the Committee.
approval of the Board of Commissioners and includes the 4. Processing the fit and proper test results by the relevant
following steps: team to initiate the issuance of a position transfer plan.
1. Identifying the Company's need for a new Head of the 5. Confirming the appointment of the Head of the
Internal Audit Unit. Internal Audit Unit, accompanied by the issuance of an
2. Evaluating candidates from within the Company as well as Appointment Decree.
external candidates.

Annual Report 2024 215

 Corporate Governance

Profile for the Head of Internal Audit

Legal Basis of Appointment

Board of Directors Decree No. 35/L-HR/XI/2019 dated November 8, 2019.

Educational Background
Bachelor’s degree in Economics majoring in Accounting from Atmajaya University,
Jakarta (2004).

Sertifikasi
ISO 9001 Auditor

Career History
Antonius Setiawan ∙ Accounting – Section Head, PT Asuransi Adira Dinamika (2004-2009)
∙ Internal Audit Group – Manager, PT Djarum (2010-2015)
Head of the Internal Audit Unit
∙ Internal Audit Group – Senior Manager, PT Tiphone Mobile Indonesia (2016)
Place and Date of Birth Age ∙ Internal Audit Group – Senior Manager, PT Central Cipta Murdaya (2016-2019)
Jakarta, April 28, 1982 42 years old
Nationality Domicile
Indonesia South Tangerang, Concurrent Positions
Banten None

Affiliation
Has no affiliation with members of the Board of Commissioners, Board of Directors,
or Controlling Shareholders.

Functions and Authorities of the Internal Audit Unit Duties and Responsibilities of the Internal Audit Unit

Functions: 1. Develop audit strategies and annual work plans, as well as

1. Conduct independent and objective assurance and programs for enhancing auditors' skills and competencies
consulting activities aimed at enhancing value and to remain updated and aligned with the Company's
improving the Company's operations through a systematic developments, based on input from the President Director
approach by evaluating and enhancing the effectiveness and the Board of Commissioners.
of risk management, control, and corporate governance 2. Prepare and conduct audits on the effectiveness of
processes. the internal control system and risk management in
2. Assist the Company’s Management in implementing accordance with the Company's policies.
Good Corporate Governance by carrying out inspections/ 3. Prepare and conduct compliance audits to ensure that the
audits, assessments, presentations, evaluations, and Company's management adheres to applicable corporate
providing recommendations for improvements, as well policies, regulations, and national legal requirements.
as conducting assurance and consulting activities for 4. Prepare and conduct operational audits to assess the
work units to ensure that they perform their duties and efficiency and effectiveness of all Company activities.
responsibilities effectively, efficiently, and in accordance 5. Prepare and conduct special (investigative) audits upon
with the Company's established policies. management's request.
6. Based on audit findings, provide recommendations for
Authorities: improving systems, procedures, and Company policies to
1. The Internal Audit Unit is led by the Head of the Internal enhance efficiency and effectiveness in alignment with the
Audit Unit. Company's vision and mission.
2. The Head of the Internal Audit Unit is appointed and 7. Prepare and submit audit reports, recommendations,
dismissed directly by the President Director with the and follow-up actions—whether pending, ongoing, or
approval of the Board of Commissioners. completed—to the President Director.
3. The President Director may dismiss the Head of the 8. Develop programs to evaluate the quality of internal audit
Internal Audit Unit, with the approval of the Board of activities conducted.
Commissioners, if the Head of the Internal Audit Unit
does not meet the requirements as an Internal Auditor Authority of the Internal Audit Unit
as stipulated in Financial Services Authority (OJK)
Regulation No. 56/POJK.04/2015 and/or fails or is deemed 1. Determine audit strategies, scope, methods, and
incompetent in performing their duties. frequency independently with the approval of the
4. The Head of the Internal Audit Unit is fully and directly President Director.
accountable to the President Director. 2. Access all documents, records, systems, physical assets,
5. Members of the Internal Audit Unit report directly to the and Company information related to the audit subject.
Head of the Internal Audit Unit. 3. Communicate directly with the Board of Directors, Board
of Commissioners, and/or the Audit Committee.

216 Annual Report 2024

4. Report obstacles and follow-up actions directly to the Internal Audit Unit Employees and Certifications
President Director.
5. Hold regular and ad hoc meetings with the President The Internal Audit Unit comprises members with technical
Director, Board of Commissioners, and/or Audit expertise in auditing as well as general skills that support
Committee. the execution of their duties. In 2024, the Internal Audit Unit
6. Coordinate activities with external audit processes. consisted of seven (7) members, including one (1) Head of
7. Collaborate and coordinate with the Audit Committee. the Internal Audit Unit, three (3) managers, one (1) assistant
manager, and one (1) supervisor.

Below is a breakdown of the number of employees and the

certifications held by employees in the Internal Audit Unit:

No. Name Education Experience Certification

1. Agung Cahyono Bachelor of Economics Senior Auditor at the Public ISO 9001 Auditor.
in Accounting from Accountants Office of Drs. Hanny,
Widya Mandala Wolfrey & Rekan
Catholic University,
Surabaya.
2. Eko Romero Bachelor of • Section Head PT Nipress Energy • Certified Forensic Auditor
Engineering from Bung Otomotif (member of Johnson (CFrA).
Hatta University. Controls Inc.) • Lie Detector Workshop
• Internal Audit of PT PGN Gagas, • ISO 9001 Auditor
a subsidiary of PT PGN Tbk • Special Soft Skills for
(Persero) Investigators.
• Quality Assurance and Quality
Control PT Sucofindo
• Technical Staff, PT Benefita
3. William Teguh Bachelor of Economics • Specialist, Financial Fraud • Brevet A and B (IAI)
Karya Putra in Accounting (Audit Investigation – Profit Protection • Fraud Risk Management
concentration) from Fraud Investigation – Corporate Workshop (AFCE)
Kwik Kian Gie School Risk and Integrity, PT Indah Kiat
of Business (formerly Pulp and Paper Tbk
Indonesian Business • Asistant Manager, Operation
and Informatics Controller, PT Sinarmas
Institute). Distribusi Nusantara
• Assisten Manajer, Special
Investigation and Forensic
Audit, PT Sinar Mas Agro
Resources and Technology Tbk
• Senior Internal Audit Staff,
PT Permata Andalan Abadi
(Distributor Tunggal Semen
Tiga Roda)
• Operation Compliance
Executive Staff, PT Soho
Global Health
• Accounting Staff, CV
Permata Sejati
• Asset Management Staff, PT
Bentara Sinergies Multifinance
4. Rambo Bachelor of • Claims and Demurrage • Internal auditor ISPS Code
Tornando Engineering from Analyst Tanker at Waruna • Inspector Occupational health
Silaban Sepuluh Nopember Shipping Group and safety expert of boiler and
Institute of Technology • Claim Adjuster at Charles Taylor pressure vessel safety expert
(ITS). Adjusting PLC (AK3 PUBT).
• PT Surveyor Indonesia (Persero) • Inspector OHS expert of
a. Marine Surveyor (2014–2019) chemicals (AK3 Kimia).
b. Import Technical Verification • Inspector Import Technical
(VPTI) Inspector (2016–2019) Verification (VPTI).
c. Inspector - OHS Specialist • Inspector electrical generators
for Chemicals (2017–2018) & excitation systems.
d. Diesel & Hydro Power Plant • Inspector diesel powerplant
Inspector (2016–2019) level 2.
e. Pressure Vessel & Boiler • Inspector electrical generators
Inspector (2018–2019) & excitation systems.
• Inspector hydro power level 2.

Annual Report 2024 217

 Corporate Governance

No. Name Education Experience Certification

5 Nanda Puji Bachelor of Computer • IT Audit Manager at PT Smartfren Certified Data Protection Officer
Nugroho Science in Information Telecom Tbk (CDPO)
Systems from Sepuluh • Senior IT Auditor at PT Astra
Nopember Institute International Tbk
of Technology (ITS),
Surabaya.
6 Edi Setiawan Bachelor of Economics • Senior Audit Supervisor at Fraud Management & Prevention
in Accounting from PT Modernland Realty Tbk (Pelindo)
Muhammadiyah • Audit Supervisor at PT Nusindo
University, Jakarta. (Group of Rajawali Nusantara
Indonesia)
• Audit Staff at PT Koperasi
Nusantara

Implementation of Internal Audit Unit Duties in 2024 All internal audit activities are conducted based on applicable
standards, focusing on proper risk management, effective
The Internal Audit Unit implements the annual audit plan internal controls, and fraud prevention. The results of these
approved by the Company’s President Director, including audits are presented as recommendations to management
regular and special audits across all Company branches and and the Audit Committee for follow-up and monitoring, as
subsidiaries throughout Indonesia. The unit is responsible for follows:
reviewing business processes, identifying risks, and analyzing 1. Audit Findings Report
root causes to ensure compliance with Company policies, 2. Summary Report on Follow-up Actions for Audit Findings
laws, and applicable regulations, and the review covers asset 3. Audit Activities Realization Report
security and utilization, assessment of resource efficiency,
and identification of potential losses and waste in achieving Audit Realization 2024
outputs. The unit also ensures that operational activities
adhere to established standards. In 2024, the Internal Audit Unit issued a total of 580
recommendations, with 73 recommendations outstanding as
of December 31, 2024. All overdue recommendations have
been followed up within the specified deadlines. A summary
of the follow-up actions taken on audit findings by the Internal
Audit Unit is detailed in the table below.

Year Recommendation Closed In Progress % Completion

2022 158 151 7 96%

2023 342 318 24 93%
2024 580 507 73 87%

The audit process is carried out by 6 (six) auditors working alongside the Head of the Internal Audit Unit, covering operations,
trade and distribution, logistics, manufacturing, and finance. Additionally, as of December 31, 2024, the Internal Audit Unit had
conducted 8 (eight) internal meetings with the Board of Directors and the Board of Commissioners/Audit Committee.

The details of the agenda and a summary of meetings in 2024 are as follows:

No. Date Topic

1 February 15, 2024 Internal Audit Report for the October – December 2023 period
2 May 7, 2024 Internal Audit Report for the January – March 2024 period
3 June 19, 2024 Internal Audit & Risk Management Sharing Session
Monitoring of Follow-up Actions on Internal Audit Recommendations for
4 July 1, 2024
Semester 1 of 2024
5 July 26, 2024 Internal Audit Report for the April – June 2024 period
6 November 4, 2024 Internal Audit & Risk Management Sharing Session
7 November 13, 2024 Internal Audit Report for the July – September 2024 period
Monitoring of Follow-up Actions on Internal Audit Recommendations for
8 December 16, 2024
Semester 2 of 2024

218 Annual Report 2024

Findings and Follow-Up Actions The following are key initiatives undertaken by the Internal
Audit Unit throughout 2024 in response to audit findings and
UThe Internal Audit Unit conducts operational and special recommendations:
audits covering significant business processes, such as 1. Conducting audits using a risk-based approach, focusing
sales, warehousing, accounting, terminal tank and warehouse on specific areas, processes, or products.
operations, as well as truck and vessel operations. Findings 2. Regularly following up on audit recommendations and
and recommendations are discussed with the responsible findings to ensure they are implemented by the audited
parties of each unit and reported to the Company's parties within the given deadlines.
Management. The Internal Audit Unit then follows up on 3. Coordinating with departments at the Head Office for
the agreed-upon corrective actions to strengthen internal recommendations that require actions from the central
controls and minimize potential risks. office.

Internal Control
System
The Internal Control System (ICS) is a set of policies and The Company utilizes various resources to identify and
procedures implemented by the Company to ensure that assess inherent risks that may affect the achievement of its
operations run effectively, efficiently, and in compliance objectives. This allows for more efficient risk management
with applicable laws and regulations. ICS is applied across all and better handling of obstacles that may arise in achieving
business lines through a tiered system, from the initial stages targets. ICS is designed, implemented, and supervised by
to the compilation of reporting. the Board of Commissioners and the Board of Directors,
actively involving management members and all employees in
The process aims to protect assets, ensure accurate maintaining effective and sustainable controls.
financial reporting, and enhance management effectiveness
and regulatory compliance. Additionally, internal control
functions to ensure adherence to applicable regulations while
minimizing risks, losses, and potential violations that could
harm the Company.

Financial and Operational Control System

AKR implements the Internal Control System (ICS) through two The operational control system is implemented by applying
main aspects: financial and operational control. This ensures policies and procedures aimed at achieving the Company’s
transparency in financial information, which is accessible to all goals and targets while ensuring the accurate preparation of
levels of management, shareholders, and other stakeholders, financial reports in compliance with applicable regulations.
serving as the basis for strategic decision-making. The AKR carries out operational control through the following
financial control measures applied by AKR are as follows: measures:
1. Securing Company Assets 1. The Company establishes policies and procedures that
The Company ensures strict security measures in the serve as guidelines for operational activities, systems,
utilization of budgets and other assets, covering the technology, financial reporting, and compliance.
entire process from planning, authorization, recording, 2. The Company implements an integrated information
distribution, disbursement, reporting, to accountability. system to support operational activities, financial
2. Testing the Reliability of Financial Reports reporting, management reporting, and external reporting.
Business management accountability is reflected in 3. Through the Internal Audit Unit, the Company conducts
financial reports. The Company ensures the implementation testing on the effectiveness of the internal control system
of systems and procedures that enhance the quality of and monitors corrective actions for identified control
financial report preparation and presentation, such as the weaknesses.
segregation of financial management functions.
3. Promoting Effective Budget Utilization
Through internal control, the Company monitors and
encourages the effective use of budgets to ensure
alignment with the established objectives.

Annual Report 2024 219

 Corporate Governance

Internal Control System Framework

The Company’s internal control framework has been AKR views internal control as a set of measures that
developed based on the internationally recognized Internal encompass all business operations. It is integrated into the
Control Integrated Framework issued by the Committee fundamental management processes, including planning,
of Sponsoring Organizations of the Treadway Commission execution, and monitoring and components include:
(COSO). This framework identifies internal control as a process 1. Control environment, which encompasses integrity, ethical
involving the Board of Commissioners, the Board of Directors, values, and the competency of individuals and entities,
and all relevant personnel. management philosophy and operating style, the way
management grants authority and responsibility, as well as
The Company has implemented internal control to provide how business operations are structured and developed in
reasonable assurance regarding the achievement of the line with management direction.
following three key objectives: 2. Risk assessment, which aims to identify, analyze, and
1. Effectiveness and efficiency of operations manage risks associated with the Company’s various
2. Reliability of financial reporting business activities.
3. Compliance with applicable laws and regulations 3. Control activities, which involve establishing policies and
procedures determined by management to help ensure
the achievement of the Company’s business objectives.
4. Information and communication, which enable individuals
and entities to obtain and exchange the necessary
information to execute, manage, and control the
Company’s operations.
5. Monitoring, which assesses the quality of the Company’s
performance through continuous monitoring activities,
separate evaluations, or a combination of both.

Compliance with COSO Standards

In implementing the Internal Control System, the Company refers to the internationally recognized framework, the Committee
of Sponsoring Organizations (COSO) of the Treadway Commission - Internal Control Integrated Framework. This framework
consists of five (5) key components of the internal control system that collectively create an effective and efficient internal control
structure. The following outlines the application of COSO principles at AKR:

No COSO Principles Implementation at AKR

1. Control Environment The system at AKR reflects the overall attitude, awareness,
The control environment consists of standards, and actions of the Board of Directors regarding the
processes, and structures that serve as the foundation importance of internal control. The elements of the
for implementing internal control throughout the control environment are implemented through oversight
organization. There are five principles related to this at all levels, including entity-level controls and activity-
component: level controls, supported by the following principles:
a. The organization demonstrates a commitment to a. In performing daily tasks, all employees, including the
integrity and ethical values. Board of Directors, must embrace the Company’s
b. The Board of Directors maintains independence values. Employees are also required to sign an integrity
from management and oversees the development pact as a commitment to integrity and ethical values.
and implementation of internal control. b. The Board of Commissioners consistently supervises
c. The Board of Commissioners and Management the activities of the Board of Directors and provides
establish the necessary structure, reporting format, input on issues faced by the Company, particularly
responsibilities, and authority to achieve objectives. those related to internal control.
d. The organization is committed to attracting, c. The organizational structure, reporting responsibilities,
developing, and retaining competent individuals to and authority required to achieve business strategies
achieve its objectives. have been clearly defined. However, the Company
e. The organization holds individuals accountable for continuously makes necessary adjustments to adapt
internal control in achieving objectives. to changes, ensuring a more responsive and efficient
organizational structure.

220 Annual Report 2024

No COSO Principles Implementation at AKR

d. The organizational structure, reporting responsibilities,

and authority required to achieve business strategies
have been clearly defined. However, the Company
continuously makes necessary adjustments to adapt
to changes, ensuring a more responsive and efficient
organizational structure. As part of human resource
development, all employees undergo a Performance
Evaluation every six months to assess their performance
and identify areas for improvement. Training relevant
to their duties and responsibilities is provided
continuously. Additionally, the recruitment process is
always based on selecting the best candidates who
have the potential to become high performers within
the Company.
e. Organizationally, Internal Audit is responsible for
ensuring compliance with internal control measures.
The Internal Audit team conducts audits on all business
aspects and processes, with the results reported to
the President Director, Board of Directors, and Audit
Committee. The Internal Audit team is also responsible
for following up on findings and implementing
necessary improvements.
2. Risk Assessment a. Risk management is carried out using a top-down
Risk assessment involves a dynamic and iterative approach, where the Board of Directors identifies
process of identifying and analyzing risks to achieve and evaluates key risks at an overall level to ensure
objectives while establishing the foundation for risk alignment with the Company's vision, mission, and
management. There are four key principles related to strategic objectives. At the same time, a bottom-up
this component: approach is applied in operational processes to obtain
a. The organization defines specific objectives to an up-to-date risk profile from the perspective of Units,
facilitate the identification and assessment of risks Divisions, and Departments.
associated with achieving those objectives. b. The ERM team coordinates with risk owners to reassess
b. The organization identifies risks related to goal and consolidate identified key risks, monitor the
achievement across the entire entity and analyzes progress of risk mitigation plans, and submit reports to
these risks to determine the appropriate response. the Board of Directors and the Audit Committee.
c. The organization considers the potential for fraud in c. The risk identification process considers four
risk assessment. categories: strategic, operational, compliance, and
d. The organization identifies and evaluates changes financial risks. Once risks are identified, they are
that may significantly impact the internal control assessed based on inherent risk level (risk impact ×
system. likelihood), control effectiveness, and residual risk level.
d. After identifying and determining risk levels, priority
risks are identified for further attention, and risk
mitigation plans are established to reduce residual
risk levels. The progress of these mitigation efforts is
monitored regularly.
3. Control Activities a. The Company has clear policies and procedures
Control activities are actions established through that serve as guidelines for all employees to achieve
procedures and policies to ensure that management the established strategic objectives. The Company
is directed toward mitigating risks in order to achieve implements risk management to identify and assess
objectives. There are three principles in this component: risks that may hinder performance achievement. The
a. The organization selects and develops control Board of Directors and relevant parties are responsible
activities that contribute to risk mitigation to an for developing mitigation plans for identified risks. The
acceptable level in achieving objectives. ERM team coordinates with Internal Audit to test internal
b. The organization selects and develops general controls over significant risks. Internal control measures
control activities related to technology to support implemented include compliance with systems
the achievement of objectives. and procedures, authorization limits, and adequate
c. The organization implements control activities segregation of responsibilities.
through policies and procedures to ensure proper
execution.

Annual Report 2024 221

 Corporate Governance

No COSO Principles Implementation at AKR

b. The Company utilizes information technology across

all business processes to minimize manual procedures.
IT architecture and framework follow a control matrix
approach.
c. The Company implements and continuously improves
standard operating procedures (SOPs) and policies in
line with business developments and internal or external
changes. Through the commitment of Company
leadership and department managers, all policies are
communicated and implemented at every level of the
business process.
4. Information and Communication a. The Company has implemented an adequate
Information is essential for carrying out internal control accounting, information, and communication system,
responsibilities to achieve objectives. Communication which serves as a tool for all employees to perform their
occurs both internally and externally by providing the duties according to their respective responsibilities.
necessary information for daily internal control activities. The Company's accounting system follows recognized
There are three principles within this component: financial accounting standards for recording and
a. The organization obtains and utilizes high-quality and financial reporting.
relevant information to support the functions of other b. To facilitate necessary data collection, the Company
internal control components. has sufficient information technology capabilities to
b. The organization communicates information generate, among other things, business activity reports,
internally, including internal control objectives and financial reports, and other reports required by the
responsibilities, to support the functions of other Board of Directors and the Board of Commissioners.
internal control components. The Company has established controls to mitigate risks
c. The organization communicates with external parties associated with information technology usage, such
regarding matters that impact the functions of other as data backup and recovery, physical/logical access
internal control components. controls, and application controls, including data
accuracy, validation procedures, control procedures,
access control, and security measures. This ensures
that the information reported is accurate, timely,
relevant, and available to stakeholders.
c. The Company has established effective communication
channels and encourages all employees to express
their aspirations through various forums. The Board
of Directors identifies critical information needed by
the Company, summarizes it, and communicates it in
an appropriate format and timely manner so that all
employees can perform their duties and responsibilities
effectively. Additionally, the Board of Directors
maintains communication with external parties in line
with transparency principles, ensuring that external
stakeholders remain informed about the Company's
condition.
5. Monitoring Activity Recognizing that systems and procedures change over
Ongoing, separate, or combined evaluations time due to external and internal factors, business process
are conducted to ensure that all internal control modifications, personnel changes, new IT applications and
components are in place and functioning effectively. technologies, and other factors, the Board of Directors
There are two principles within this component: and business unit leaders continuously evaluate and ensure
a. The organization selects, develops, and implements that the Company's internal controls remain relevant and
ongoing and/or separate evaluations to ensure that function as intended.
all internal control components are available and
functioning properly. Monitoring activities to assess the adequacy of the Internal
b. The organization evaluates and communicates Control System are conducted periodically by the Internal
internal control deficiencies to the responsible Audit Team, with the results reported to the President
parties to enable corrective action. Director, Board of Directors, and Audit Committee. The
Internal Audit Team also coordinates with relevant parties
to follow up on corrective actions taken to address
identified internal control weaknesses.

222 Annual Report 2024

 Evaluation of the Effectiveness of the Internal Control System

The Company has implemented the Internal Control System in 2. Business-Level

accordance with applicable control principles and conducted The expansion of internal supervision at the business
a comprehensive evaluation, demonstrating the system's level has had a significant impact on financial reporting,
effectiveness in two main processes: particularly in identifying risks more accurately and
1. Entity-Level accountably. This is evident through internal monitoring in
The Company's Internal Audit Unit has enhanced the quality areas such as inventory management, financial reporting,
of supervision and audit reviews of the performance of sales, and receivables.
each department, branch, and project. The Company
also directly follows up on any feedback and suggestions The ICS is evaluated regularly to ensure that the system
received, ensuring that employees at all levels contribute operates as intended and provides optimal benefits for the
by monitoring and reporting any misconduct within their Company. This evaluation aims to determine whether the ICS
respective work areas. To uphold its commitment to can detect and prevent risks in a timely manner while ensuring
corporate governance, the Company continuously applies compliance with applicable policies and regulations.
ethical principles across all employee levels.
In 2024, the evaluation concluded that the ICS remains
aligned with applicable control principles. Overall, the ICS has
demonstrated good quality and effectiveness in supporting
Company operations.

Statement on the Adequacy of the Internal Control System

The Board of Directors and the Board of Commissioners Furthermore, the Board of Directors and the Board of
declare that the Internal Control System (ICS) implemented by Commissioners confirm that the ICS functions effectively in
the Company in 2024 is effective in carrying out its supervisory safeguarding assets, ensuring accurate financial reporting,
and risk management functions. Based on the evaluation and ensuring compliance with applicable laws and regulations.
conducted, both internally and through external audits, the Therefore, we believe that the existing internal control system
Company’s ICS remains aligned with applicable control supports the achievement of the Company’s objectives,
principles and ensures that operations are conducted in minimizes risks, and sustains long-term business continuity.
accordance with established regulations.

Annual Report 2024 223

 Corporate Governance

Risk
Management
Risk management plays a crucial role in ensuring the The Company continuously has developed a series of risk
smooth execution of business processes and supporting management procedures and methodologies to identify,
the achievement of the Company’s targets and plans. One analyze, evaluate, and mitigate risks. This approach is designed
of the key strategies for minimizing disruptions or risks to to provide assurance and confidence to stakeholders
operations is maintaining an effective and adequate risk in achieving the Company's objectives effectively and
management system. efficiently.

Risk management considers various internal and external

dynamics that may impact the Company. Therefore, risk
management is implemented systematically, structurally, and
comprehensively while adhering to the principle of prudence.
Additionally, it aims to strengthen the application of corporate
governance principles, particularly in maintaining sound
business practices and delivering added value in line with
stakeholder expectations.

Corporate Risk Management Administrator

All members of the Company actively participate in managing 4. Submitting priority risks that require immediate
business risks. The risk management process follows a top- management attention based on the existing risk profile,
down approach, where the Board of Directors evaluates key considering the impact and likelihood of occurrence after
risks at an overall level, and a bottom-up approach, involving assessing the effectiveness of current internal controls.
Department Heads, Branches, and Subsidiaries in assessing 5. Continuously ensuring and monitoring the implementation
specific risks within their respective units or businesses. of risk mitigation plans within the set timeframe.
6. Reviewing and providing input to Branch/Division/
The Company has assigned risk management responsibilities Department/Subsidiary leaders regarding risk mitigation
to the Enterprise Risk Management (ERM) Department at plans, including addressing new issues that may arise
Head Office, following the established risk management during the implementation of established mitigation plans.
framework, policies, and procedures. 7. Validating and verifying (especially for key risks) existing risk
controls and tracking the progress of risk mitigation action
ERM Departement plans through direct field visits to Branches/Divisions/
Departments/Subsidiaries.
The ERM Department is responsible for managing business 8. Conducting continuous socialization efforts to develop a
risks identified by all parties within the Company. The duties culture of awareness, ownership, and risk consciousness,
and responsibilities of the ERM Department include: emphasizing that risk management is the responsibility of
1. Developing and proposing risk management concepts and all employees at AKR.
frameworks, risk appetite, risk philosophy, risk tolerance, 9. Preparing and periodically reporting the Consolidated Risk
policies and procedures, and risk management structures Management Report to the President Director and relevant
to be implemented under the President Director’s Directors.
approval, aligning with the Company's vision and mission.
2. Implementing and consistently communicating risk
management policies and procedures on an ongoing basis.
3. Ensuring that all key/significant risks of the Company are
properly identified, measured, and mitigated.

224 Annual Report 2024

 Company Risks and Risk Management Efforts

AKR has identified various risks faced throughout 2024 and has developed measures to manage these risks as follows:

No Type of Risk and Description Risk Management Efforts

1. Country Risk a. Economic and Geopolitical Risk

Indonesia’s macroeconomic conditions, In 2024, the crisis in the Middle East impacted the global
political stability, and government regulations economy, leading to rising commodity prices, particularly in oil
influence the Company and other businesses and basic chemicals, and affecting supply chains. This poses
operating in the country. a significant risk to the Company if not properly mitigated.
Additionally, factors such as inflation rates, Gross Domestic
Product (GDP) growth, taxation, and various political and
economic developments in Indonesia also present risks that
need to be carefully considered.
b. Risk of Government Policy Changes
The Company faces risks associated with changes in government
policies that may either hinder or create opportunities for its
business operations in Indonesia. Policy changes in areas such
as taxation, currency controls, interest rates, import-export
restrictions, fuel subsidy formulation, labor regulations, licensing,
and investment policies can have an impact on the Company's
performance.

A significant portion of the petroleum and basic chemical

products traded and distributed by the Company are
imported. Any changes in regulations, import bans, import
quota restrictions, customs duties, or import tariffs that hinder
imports or increase import costs could affect the Company’s
performance. The awarding of fuel distribution contracts for
subsequent years depends not only on the government’s tender
process and ongoing deregulation policies but also on the
Company’s ability to meet the required criteria.
2. Industry Risk The trading and distribution segment is influenced by the demand
Supply and demand dynamics within the industry for basic chemicals and petroleum. The demand for these products
in which the Company operates also impact its is closely tied to Indonesia’s economic conditions, both nationally
performance. and regionally. The logistics services segment also faces risks
related to demand dependency. The Company provides logistics
services and distribution infrastructure facilities to third parties in
Indonesia. An economic slowdown in Indonesia or globally could
impact international trade, leading to a decline in shipping activities
and demand for logistics services.

In addition to risks related to supply and demand levels, the

Company also faces competition from other businesses operating
in the same industry. To mitigate this risk, the Company continues
to enhance its logistics infrastructure for energy and industrial raw
material distribution, maintain strong relationships with suppliers,
and improve service quality for customers.
3. Operational Risk The Company establishes standard operating procedures that are
Operational risk arises when the Company continuously updated and improved to minimize risks and ensure
fails to meet standard operating procedures, alignment with business demands and technological advancements.
experiences employee management failures, Additionally, the Company has developed backup technology and
system disruptions, or faces external factors operational systems to maintain functionality in case of main system
such as weather changes, natural disasters, or failures. A centralized IT system supports monitoring in product
supply chain disruptions. These risks are directly storage and distribution. Employees responsible for these systems
related to the Company's daily operations. receive regular training to enhance their skills and preparedness in
handling operational systems and equipment.

To ensure effective and sustainable operational risk management,

the Company implements the Three Lines of Defense approach:
a) Business units manage daily operational risks as a preventive
control, b) Risk Management functions as a detective control, c)
Quality Assurance/Internal Audit serves as a corrective control.

Annual Report 2024 225

 Corporate Governance

No Type of Risk and Description Risk Management Efforts

4. Safety, Health, and Environmental (SHE) Risk To mitigate these hazardous risks, the Company enforces strict and
The Company may encounter Safety, Health, and detailed regulations on workplace safety and provides training for
Environmental (SHE) risks, given its operations employees to handle unexpected situations. SHE procedures are
in basic chemicals, petroleum, manufacturing, continuously updated in accordance with government regulations,
and logistics. These risks include fire hazards, industry standards, and certifications specific to certain regions.
product spills, improper waste handling,
equipment malfunctions, system failures, and
other related incidents. SHE risks not only
impact the Company but also affect surrounding
communities in operational areas.
5. Financial Risk Regarding credit risk, the Company applies strict monitoring in
The primary financial risks faced by the Company granting credit to customers. To manage the risks of commodity
in financial instruments include credit risk, price fluctuations and foreign exchange rate volatility, the Company
market risk (comprising interest rate risk, foreign adopts a stable business model with price-based formulas and
exchange risk, and commodity price risk), and mitigates forex risk through hedging. The Company’s financial risk
liquidity risk. management is detailed in the consolidated financial statements,
audited by Purwantono, Sungkoro & Surja (a member of Ernst &
Young).

2024 Risk Management Report

No Risk Key Initiatives

1. Compliance Risk and Regulatory/Policy • AKR actively participates in meetings with the government
Changes. related to its industry to anticipate policy changes.
• Monitoring and analyzing legal and regulatory changes that
impact AKR's business.
• Timely internal communication and socialization of regulatory
changes to relevant parties within the Company.
• Utilizing a system to monitor the renewal and updates of permits
and licenses.
2. SHE Risk • Implementing Standard Operating Procedures (SOP) for Safety,
Health, and Environment (SHE).
• Conducting training and awareness programs to emphasize the
importance of SHE compliance.
• Performing Safety Observation (SOR) and SOP/Work Instruction
(WI) compliance audits.
• Updating policies and SOPs in line with ongoing developments.
• Conducting periodic safety equipment and facility checklists.
3. Risk of Business Environment Changes, Market • Actively participating in conferences discussing changes in the
Conditions, and Business Development to business environment.
Support Growth • Expanding networks among industry players.
• Monitoring AKR’s business competitors.
• Developing systems to accelerate the analysis process.
• Establishing a business development function to drive new
product development.
• Monitoring the sales pipeline.
• Coordinating and maintaining strong relationships with principal
companies.

226 Annual Report 2024

 No Risk Key Initiatives

4. Financial Risk 1. Credit Risk

• Credit limits are set for all customers based on internal
assessment criteria (5C analysis).
• Cash before delivery policy.
• Stricter credit approval and periodic reviews, especially
during global economic fluctuations that impact customer
financial conditions.
• Monthly monitoring of collection targets and actual
realizations.
• Monitoring and updating customer industry conditions.

2. Liquidity Risk
• Strict evaluation and supervision of cash inflows and outflows.
• Periodic monitoring of liquidity ratios.

3. Market Risk
• Close monitoring of market interest rate fluctuations and
market expectations.
• Fuel pricing determined using a formula-based approach.
• Managing foreign exchange fluctuation risks through
hedging.
5. Cyber Risk and Information Security • An established information security policy.
• Antivirus and spam protection.
• Restricted document access, limitations on the use of external
media (USB, external hard drives), and controlled internet access
based on relevant needs.
• Regular IT security awareness campaigns.
6. Risk in Human Capital Development, Including • Campaigns and awareness programs to enhance understanding
Succession Planning, Talent Management, and and implementation of the Company's values (e.g., newsletters,
Corporate Value Implementation screen savers).
• Performance evaluation through the People Development
Committee (PDC).
• Continuous development and training programs.
• Successor development and roadmaps, especially for critical
functions.

Evaluation of the Effectiveness of the Risk Management System

The Company continues to strengthen and develop a more Risk management plays a crucial role in supporting planning,
comprehensive and integrated risk management framework decision-making, and corporate governance implementation.
and internal control structure. This enables the early detection Through a structured risk management approach, the
of potential risks that may impact performance, allowing for Company has successfully reduced the impact and likelihood
appropriate mitigation measures. of risks occurring. This is reflected in the quality, number, and
speed of risk mitigation efforts that have been implemented.
With this system, management can make more strategic
decisions based on clear information regarding the potential
impact on the Company and its subsidiaries.

Annual Report 2024 227

 Corporate Governance

Involvement of the Board of Commissioners and Board of Directors in Risk Management

Role of the Board of Commissioners: 2. Ensure the effective implementation of risk management
1. Provide direction and recommendations to the Board of by integrating it as an essential part of the Company's
Directors in overseeing risk management practices and operational activities.
implementation within the Company. 3. Review the Company's risk profile and reports, including
2. Review and ensure that the Company and its subsidiaries identifying and prioritizing key risks that require immediate
have an appropriate risk management framework and mitigation.
processes in place, aligned with business needs. 4. Assess the effectiveness of risk mitigation controls to
ensure implementation is adequate and timely.
Role of the Board of Directors: 5. Ensure sufficient human resources are allocated for
1. Develop a risk management culture across all managing strategic risks, including setting risk tolerance
organizational levels through a tone from the top approach, levels and defining risk treatments for each strategy.
where risk culture starts from top management.

Efforts to Enhance Risk Awareness Culture

The Company is committed to promoting risk management 2. Providing risk management training and awareness
across all levels of management, making it an integral part of sessions for new employees joining the Company.
daily business activities. 3. Conducting surveys to assess employees' understanding
of risk awareness culture.
As part of efforts to strengthen risk awareness culture, the
Company has undertaken various initiatives throughout 2024,
including:
1. Conducting re-socialization and refresher sessions on risk
management and its practices for risk owners at branch
offices.

Statement on the Adequacy of the Risk Management System

The Board of Directors continues to place significant emphasis In 2024, the Board of Directors determined that the
on the implementation of risk management, recognizing its Company's risk management system has been effectively
role as the Company's primary line of defense. As part of this and adequately implemented, with all existing procedures,
responsibility, the Board of Directors regularly evaluates the mechanisms, and infrastructure functioning as intended.
effectiveness of risk management implementation, including Based on this evaluation, the Board of Directors has concluded
assessing the reliability of procedures, mechanisms, and that no changes are required in the risk management policies
infrastructure in place. applied this year. Consequently, for 2025, no modifications to
the existing risk management policies will be necessary.

228 Annual Report 2024

Legal
Issues
Until the end of 2024, no material civil or criminal legal cases were faced by the Company, subsidiaries, Board of Commissioners,
or Directors.

Legal issues faced by subsidiary entities indirectly in the form of contractual obligations have been disclosed in the Audited
Consolidated Financial Statements ending on December 31, 2024, under Note 34 letter C. There were no legal issues materially
affecting the status, position, and continuity of the Company’s business activities.

Administrative
Sanctions
Throughout 2024, the Company did not incur administrative sanctions, so there is no information regarding this matter.

Access to Company
Information and Data
AKR is committed to providing transparent, accurate, The Company provides communication services through
and timely access to company information and data for the Company Secretary and the Investor Relations Division
stakeholders, in accordance with corporate governance to ensure that all legitimate information requests are
principles. This transparency aims to ensure that all accommodated in accordance with prevailing regulations.
stakeholders, including shareholders, investors, business The public can access financial reports, corporate information,
partners, and the general public, can obtain relevant publications (press releases), product details, and corporate
information regarding the Company's performance, policies, actions.
and strategic decisions.
The primary channel for information dissemination is the
Managing and disclosing information is crucial in building the official website (www.akr.co.id), which is available in both
Company's public image, particularly among stakeholders. Indonesian and English. In addition to the website, the
To meet the public's need for corporate activity information, Company also offers communication channels via email at
the AKR strives to provide timely and useful information while [email protected] or by phone at +62 21 531 1110. Furthermore, the
adhering to applicable regulations. Company continuously reports material information and facts
electronically to OJK and the Indonesia Stock Exchange (IDX)
via www.idx.co.id.

Annual Report 2024 229

 Corporate Governance

The Company's Information Access Channels: 2. Social Media

1. Online a. YouTube
The Company's official website (https://www.akr.co.id), b. Instagram
available in both Indonesian and English, provides the c. Facebook
following information: d. Twitter
a. Company Profile e. LinkedIn
b. Vision and Mission
c. Business Model 3. Correspondence/Email
d. Financial Information Mailing Address:
e. Latest News AKR Tower, 26th Floor
f. Company Presentations Jl. Panjang No.5, Kebon Jeruk, West Jakarta 11530
g. Corporate Governance Email for Corporate Secretary: corporate.secretary@
h. Environmental, Social, and Governance (ESG) akr.co.id
Performance
i. Information Disclosure, and more 4. Information Disclosure
Official reports submitted via Electronic Reporting to OJK
and the Indonesia Stock Exchange (IDX) at www.idx.co.id.

Investor Relations and

Communication
The Company consistently maintains strong relationships with 3. Hosting quarterly performance briefings
investors through transparency and effective communication. 4. Arranging face-to-face meetings with existing and
This is demonstrated by providing open access to corporate potential shareholders
information, including financial performance, business 5. Conducting site visits to operational locations
strategies, and corporate governance policies.
The Company utilizes regular email blasts and social media
The Investor Relations Division facilitates two-way platforms to disseminate publicly available information, which
communication between external stakeholders and is also accessible through the official website and disclosures
management through various channels and events, including: submitted to the Indonesia Stock Exchange (IDX). With this
1. Participation in public exposés approach, AKR ensures that investors can make well-informed
2. Attendance at conferences, non-deal roadshows, and decisions based on accurate and up-to-date information.
meetings with brokers

230 Annual Report 2024

 Profile of the Head of Investor Relations

Educational Background
• Master of Business Administration, IE Business School, Madrid and Singapore
Management University (2018);
• Bachelor’s degree in Accounting, Universitas Gadjah Mada (2009)

Career History
∙ Senior Equity Analyst, PT BRI Danareksa Sekuritas (2018-2022);
∙ Research Assistant, PT BRI Danareksa Sekuritas (2017-2018);
∙ Foreign Exchange Trading Officer, PT Danareksa Persero (2016-2017);
∙ Treasury Sales Officer, PT Danareksa Persero (2015-2016);
∙ Analyst, Department of Monetary and Economic Policy, Bank Indonesia
(2014-2015)

Ignatius Teguh
Prayoga
Head of Investor Relations
Joined AKR Age
September 28, 2022 33 years old

Investor Relations Activities in 2024

Throughout 2024, Investor Relations carried out several key programs as follows:
1. Participation in public exposés.
2. Attendance at conferences, non-deal roadshows, and meetings with brokers.
3. Holding quarterly performance briefings.
4. Arranging face-to-face meetings with existing and potential shareholders.
5. Conducting site visits to operational locations with investor and analysts

Investor Meetings

Date Activity Implementation

Januari, 16 2024 Investor Conference Nomura ASEAN Conference

January 25, 2024 Webinar investor retail Succor Retail Event
February, 29 2024 Investor Conference UBS Midcap Conference
March 8, 2024 Investor Conference Mandiri Investment Forum 2024
March 21, 2024 Result Briefing for Analysts 2023 Full Year Result Briefing
March 25, 2024 Investor Conference DBS Pulse of Asia Conference 2024
May 6, 2024 Webinar investor retail Webinar with Influencer Rivan Kurniawan
April 25, 2024 Result Briefing for Analysts 3M24 Result Briefing
May 13-17, 2024 Non-Deal Roadshow Europe UK Non-Deal Roadshow
Nomura Investment Forum Asia (NIFA)
June 5, 2024 Investor Conference
2024, Singapore
June 11, 2024 Investor Conference 20th CITIC CLSA Asean Forum
July 4, 2024 Investor Conference J.P. Morgan’s Malaysia & ASEAN Forum
July 25, 2024 Result Briefing for Analysts 6M24 Result analyst Briefing
August 19-23, 2024 Non-Deal Roadshow US Non-Deal Roadshow
August 30, 2024 Public Expose IDX Public Expose Live 2024
September 5, 2024 Investor Conference JP MORGAN INDONESIA FORUM

Annual Report 2024 231

 Corporate Governance

Date Activity Implementation

September 9, 2024 Investor Conference 31 CITIC CLSA FORUM

th

October 25, 2024 Result Briefing for Analysts 9M24 Result Briefing
Nomura Verdhana Indonesia
November 8, 2024 Investor Conference
Conference

Code of Ethics and

Conduct
The Company understands that corporate governance can be understood and agreed upon by every employee. All
enhance value and support long-term, sustainable growth, employees are expected to behave in accordance with the
not only for shareholders but also for stakeholders. Therefore, Company’s values and uphold the code in their daily activities.
the Company is committed to strong governance principles, AKR has conducted socialization of the Code of Ethics and
such as the development of the Code of Ethics and Conduct. Integrity Pact to internalize an understanding of the obligations
and responsibilities in performing tasks in compliance with
The Code of Ethics and Conduct, initially signed in applicable regulations within the Company. A total of 1,654
November 2015, was updated in December 2023 to ensure employees have signed the Integrity Pact.
compliance with applicable regulations and strengthen the
implementation of corporate governance.

The Code of Ethics and Conduct serves as a foundation

for employees in their interactions with colleagues and
external parties. Introduced across all organizational levels,
it is an integral part of employment contracts, which must

Key Principles of the Code of Ethics

Introduction Code of Conduct in Stakeholder Relations

1. Background 1. Relations with Suppliers, Business Partners, Creditors, and
2. Objectives Customers
3. Scope 2. Relations with the Government
4. Terms and Definitions 3. Fair Business Competition
5. References 4. Relations with Shareholders
5. Relations with the Community in Operational Areas
Business Ethics Principles and Guidelines 6. Equal Employment Opportunity
1. Company Vision and Mission Code of Conduct for Occupational Health, Safety, and
2. Corporate Culture Environmental Management
3. Principles of Good Corporate Governance
4. Code of Ethics Code of Conduct in the Workplace
1. Compliance with Laws and Regulations
Code of Conduct for AKR Group Personnel 2. Collaboration Among AKR Personnel
1. Relations Among AKR Personnel
2. Relations with Subsidiaries and/or Joint Ventures

232 Annual Report 2024

Code of Conduct for the Protection of Company Assets Guidelines for Conflict of Interest, Anti-Bribery, and Anti-
1. Supervision and Use of Company Assets Gratification
2. Confidentiality of Company Data and Information 1. Conflict of Interest
3. Intellectual Property Rights and Responsible Use of 2. Anti-Bribery and Gratification
Social Media 3. Political Activities and Political Donations

Principles of the Code of Ethics

The principles of the Company's code of ethics are as follows: 4. Prevent and avoid conflicts of interest or potential
1. Compliance with Company Regulations conflicts of interest with AKR and/or the AKR Group and its
Company regulations must be upheld and adhered to by stakeholders.
all employees. Violations of regulations or disciplinary rules 5. Respect and foster good relationships, upholding human
may result in warnings up to termination of employment. values among colleagues, subordinates, superiors,
2. Compliance in Avoiding Conflicts of Interest shareholders, and stakeholders.
Decisions made by employees must prioritize the interests 6. Promptly report any violations that occur or may potentially
of the Company. occur concerning the code of ethics, code of conduct,
3. Obligation to Maintain Company Confidentiality Company regulations, applicable laws, and policies and
All employees are prohibited from disclosing information procedures established by AKR, either to superiors or
that may be detrimental to the Company. through the whistleblowing system.
7. Accept responsibility for violations of the code of ethics,
All Company Personnel, without exception, are required to: which may result in sanctions, including termination of
1. Comply with Company regulations and applicable laws employment and legal proceedings in accordance with
while ensuring safety, security, health, and environmental applicable laws.
protection.
2. Make decisions aligned with the Company’s vision,
mission, corporate culture, ethical guidelines, code of
conduct, governance principles, articles of association,
and applicable laws.
3. Act professionally and uphold integrity in representing AKR
and/or the AKR Group, including refraining from misusing
knowledge, position, or authority, avoiding involvement in
individual or corporate criminal activities, and preventing
fraud in any form that may harm the AKR Group.

Implementation of the Code of Ethics

The Code of Ethics is designed to ensure that every individual Implementation is carried out through regular socialization,
within the Company carries out their duties and responsibilities training, and compliance monitoring to ensure its use in
with integrity, professionalism, and in accordance with daily operational activities. Any violations are addressed in
corporate governance principles. The Board of Directors accordance with applicable policies to maintain an ethical,
and the Audit Committee oversee and ensure its proper transparent, and responsible work culture.
implementation.

Distribution of the Code of Ethics

The Code of Ethics is disseminated to all AKR Personnel through:

1. The Company's website www.akr.co.id
2. Annual Reports
3. Newsletters
4. Pocketbooks
5. New employee orientation materials

Annual Report 2024 233

 Corporate Governance

Consequences of Code of Ethics Violations

Each employee is required to sign the Code of Conduct upon In the event of a violation, the Company will apply sanctions
joining the Company and is expected to integrate it into daily based on the severity and its impact on the organization.
activities. The Company regularly conducts activities aimed at Sanctions may include disciplinary action ranging from written
strengthening the application of the Code of Ethics among all warnings to termination of employment for serious offenses.
employees. The enforcement process is carried out transparently, fairly,
and in accordance with established procedures to uphold the
Company’s integrity and reputation while fostering an ethical
and professional work environment.

Sanctions for Code of Ethics Violations

For employees proven to have violated the Code of Ethics as stipulated in the Company's regulations, AKR has the right to impose
sanctions, including:

No Type of Violation Type of Sanction

1. Violation of obligations without causing harm Verbal Warning

2. Repetition of the first offense, maximum of two times Written Warning
3. Violations related to attendance, cleanliness, etc. First Warning Letter (SP I)
Repetition of offenses listed in SP I, within the limits specified
4. Second Warning Letter (SP II)
in SP I
Repetition of offenses listed in SP II, within the limits specified
5. Third Warning Letter (SP III)
in SP II, causing harm
6. Violations that cause significant harm to the Company Termination of Employment (PHK)

In 2024, there were no violations of the Code of Ethics within the Company. This reflects the commitment and compliance of all
parties within the organization to the established ethical principles, as well as the effectiveness of the Company's oversight and
enforcement system.

234 Annual Report 2024

Performance-Based Long-Term
Compensation Policy
In 2024, the Company implemented the Management Company views MESOP as both an incentive and a retention
Employee Stock Option Plan (MESOP), granting stock options program for high-performing management and employees.
to participants, including management and key employees, The objectives of the MESOP program include:
to purchase shares. This program covers 156,500,000 shares 1. Enhancing a sense of ownership in the Company, which
with a nominal value of Rp20 each, equivalent to 0.78% of the will ultimately improve participants' performance and
issued and fully paid capital, all sourced from treasury shares. contribute to the Company's overall success.
AKR conducted the MESOP program in accordance with 2. Aligning the interests of the Company with those of MESOP
OJK Regulation No. 29 of 2023 on Share Buybacks by Public participants.
Companies and OJK Regulation No. 13 of 2023 on Policies for 3. Providing recognition and incentives for participants'
Maintaining Performance and Market Stability in Significantly contributions, motivating management and employees
Fluctuating Market Conditions. to excel.
4. Strengthening participants' loyalty while enhancing the
MESOP was chosen as a method for transferring treasury Company’s future performance and profitability.
shares, considering the Company's consistent annual 5. Attracting and retaining high-achieving management and
performance and profitability growth, driven by the dedication employees within the Company.
and commitment of management and employees. The

Requirements for Employees, Directors, and/or the Board of Commissioners

1. A “Participant” is an individual eligible to take part in the • Key officers and employees of the Company, as
MESOP Program as determined by the Committee. determined by the Committee from time to time, who
For clarity, only an individual may be designated as a have signed a Stock Option Grant Agreement or other
Participant, and not their spouse, children, siblings, or any agreement with the Company.
other party affiliated with the Participant. 3. The Committee will determine the eligibility criteria for
2. Eligible Participants include: Participants from time to time.
• The Company’s Directors;
• The Company’s Commissioners (excluding Independent
Commissioners); or

Planned Implementation Period of MESOP

The MESOP Program will be implemented for all participants 4. Phase III.B: Stock Options may be exercised by Participants
with the following Stock Option exercise periods: from May 1, 2026, to May 20, 2026, with the condition that
1. Phase I: Stock Options may be exercised by Participants MESOP shares exercised under Phase III.B will be subject to
from August 1, 2024, to August 31, 2024. a one-year sale restriction (MESOP Share Sale Restriction)
2. Phase II: Stock Options may be exercised by Participants in accordance with the provisions set forth in this Program
from August 1, 2025, to August 31, 2025. Document and the Stock Option Grant Agreement.
3. Phase III.A: Stock Options may be exercised by Participants
from May 1, 2026, to May 20, 2026.

Annual Report 2024 235

 Corporate Governance

Anti-Corruption and
Anti-Bribery Policy
The Company is committed to implementing a strict anti- 4. All AKR personnel are required to support efforts to prevent
corruption and anti-bribery policy in all aspects of its corruption and money laundering.
operations and business activities. This aims to prevent
actions that may create conflicts of interest, collusion, As part of this policy, the Company strictly prohibits the
nepotism, and corruption while prioritizing the Company’s giving or receiving of any form of bribery related to business
interests over personal, family, group, or sectoral interests. activities, except as explicitly regulated by Company
policies. Employees are encouraged to report any indications
AKR's anti-corruption policy refers to Law No. 20 of 2001, of corruption or bribery to the relevant authorities, with
which amends Law No. 31 of 1999 on the Eradication of safeguards in place to protect whistleblower identities.
Corruption. The Company's policies on anti-corruption and
anti-bribery are outlined in the Code of Conduct and the To support this policy, the Company conducts regular
Whistleblowing System Guidelines. The following behavioral training and rigorous supervision to ensure consistent and
guidelines related to anti-corruption and anti-bribery are effective implementation at all levels of the organization. The
implemented: Company also actively promotes awareness and vigilance
1. AKR personnel are prohibited from offering or promising among employees to maintain a healthy and fraud-free
gifts or similar benefits to any party associated with the work environment by providing reporting and complaint
Company if such a gift is known or suspected to influence mechanisms through the whistleblowing system.
or induce the recipient to act or refrain from acting in a way
that contradicts their official duties.
2. AKR personnel are prohibited from receiving or requesting
any form of commission and/or compensation, whether
directly or indirectly, related to their work.
3. If AKR personnel receive a gift from a business partner or
any party related to the Company, they must immediately
report it to the Board of Directors.

Whistleblowing
System
The Whistleblowing System (WBS) is used to receive, The benefits of the Whistleblowing System include:
process, follow up on, and report information submitted 1. Providing a secure channel for reporting critical and
by whistleblowers regarding violations occurring within the essential information to the appropriate parties for
Company. The implementation of this system is also part of immediate action.
corporate governance principles to ensure transparent and 2. Increasing deterrence against violations as employees
accountable operations that align with the Company’s vision gain confidence in an effective reporting system.
and mission. 3. Serving as an early warning system to detect potential
issues arising from violations.
The Company strives to prevent fraud involving its personnel, 4. Allowing internal resolution of violations before they
one of which is through the implementation of the WBS. escalate into public issues.
Every report submitted must be made in good faith and must
not be based on personal grievances, malicious intent, or
defamation. The Company is committed to professionally and
responsibly handling all reports to foster an honest and high-
integrity work environment.

236 Annual Report 2024

5. Reducing organizational risks related to financial, The Whistleblowing Policy aims to foster a check-and-balance
operational, legal, workplace safety, and reputational mechanism at all levels of the Company and to build collective
concerns. awareness in preventing fraud, misconduct, and abuse of
6. Lowering costs associated with handling the authority. Through the consistent and firm application of this
consequences of violations. policy, the Company is committed to maintaining sustainable
7. Enhancing the Company's reputation among shareholders, transparent business practices, complying with applicable
stakeholders, regulators, and the general public. regulations, and upholding high ethical standards.
8. Providing insights for the Company to identify critical
areas and internal control weaknesses, enabling the
development of necessary corrective actions.

Reporting of Violations

Employees and external parties may report suspected fraud, All reports submitted through these channels will be received
criminal acts, legal violations, unethical behavior, or other directly by the President Director. With these three reporting
actions that could harm the Company and its stakeholders, channels available, the Company aims to maximize the
including those committed by employees or Company effectiveness of the Whistleblowing System. The policy
leaders. Reports can be submitted to the appropriate regarding the violation reporting system was updated and
authorities within the Company for further action. approved on October 6, 2021.

In 2024, the Company provided multiple reporting channels, Whistleblowers are required to provide an initial accountable
including: indication of the reported fraud or violation, along with
1. A web-based reporting system/online form at https://wbs. supporting data (if available), covering:
akr.co.id. 1. The reported action (What).
2. Email: [email protected]. 2. The individuals involved (Who).
3. WhatsApp application: 0811-1321-911. 3. The time of occurrence (When).
4. The location of the incident (Where).
5. How the incident occurred (How).

Eligibility to Report Violations

Parties eligible to report violations include both internal and external individuals directly or indirectly associated with the Company.
Internal refers to all employees, including the Board of Directors and the Board of Commissioners, while external includes other
stakeholders such as suppliers, consultants, vendors, outsourced personnel, customers, creditors, the community, and others.

Protection for Whistleblowers

Whistleblowers are entitled to protection, and the Company 4. Protection from potential threats, intimidation, penalties
is committed to safeguarding those who report in good faith. (criminal or civil), or any unfavorable actions from the
The Company will comply with all relevant laws and implement reported party.
best practices in the execution of the Whistleblowing System. 5. Protection also extends to individuals conducting
This protection aims to encourage the reporting of violations investigations and those providing information related to
and ensure the safety of whistleblowers, including: the report.
1. Assurance of confidentiality regarding the whistleblower’s 6. Whistleblowers may report any retaliatory actions, threats,
identity and the contents of the report, except when or other forms of pressure to the President Director. If the
requested by law enforcement authorities. issue cannot be resolved internally, whistleblowers are
2. Protection against adverse treatment, such as: guaranteed the right to bring the matter to an independent
a. Unjust dismissal; body outside the Company.
b. Demotion or reduction in rank;
c. Harassment or discrimination in any form.
3. Protection from negative records in personal files.

Annual Report 2024 237

 Corporate Governance

Complaint Handling

Each report is received by the President Director. The follow-up process is conducted carefully, in accordance with the
Company's established guidelines and relevant regulations in Indonesia, by an internal team (WBS Management Unit) appointed
by management. Communication with the whistleblower is kept confidential by the Whistleblower Protection Officer and will only
occur when necessary to gather information or clarification to support the investigation process.

Number of Reports and Follow-Up Actions

To December 31, 2024, AKR received 4 (four) whistleblowing reports. All have been reviewed and addressed by the Company in
accordance with applicable internal regulations.

Enhancing the Quality of Corporate

Governance Implementation
The Company's success to date in implementing corporate 3. Maintaining open communication with both external and
governance reflects its consistency in applying the principles. internal stakeholders to ensure transparency.
The trust placed by investors is also a result of the Company’s 4. Participating in seminars and regulatory briefings on new
continuous efforts to maintain solid governance practices. corporate governance guidelines.

The Company is determined to continuously improve its

corporate governance practices. Several initiatives planned
for 2024 to enhance the quality of corporate governance
include:
1. Monitoring and overseeing the implementation of policies
aimed at maintaining good corporate governance.
2. Distributing information to promote awareness of new
regulations and guidelines related to governance and
sustainability principles.

Insider Trading
Policy
AKR has a strict policy prohibiting insider trading, which As part of this policy, any individual with access to
restricts all members of the Company, including the Board material non-public information is required to maintain its
of Commissioners, Board of Directors, and employees, confidentiality and refrain from disclosing or using it for
from buying or selling the Company's shares or engaging in personal gain. One of the measures to protect shareholder
transactions involving other securities based on unpublished rights is the implementation of the blackout period policy for
information that may influence stock prices or market value. AKR share transactions. This period restricts insiders within the
This policy aims to prevent the misuse of material non-public Company who have access to material non-public information
information and uphold market integrity. from trading shares.

238 Annual Report 2024

This policy serves as the foundation for ensuring compliance 2. Upon the announcement of the blackout period, insiders
with corporate governance and relevant regulations regarding with pending share transaction orders must cancel them.
insider transactions, including those involving affiliates. The The Corporate Secretary Office is responsible for ensuring
key provisions include: the cancellation of such transactions.
1. During the blackout period, insiders with material
information are prohibited from engaging in share The general blackout period is observed ten calendar days
transactions, including but not limited to: before the Company’s financial statements—whether
• Placing orders or instructions to buy or sell AKRA shares. quarterly, semi-annual, or annual—are released to the public
• Influencing others to conduct share transactions by through the Stock Exchange. This period ends on the day the
providing material non-public information for personal financial statements are published. Additionally, an incidental
benefit. blackout period begins when material information regarding
corporate actions becomes available to insiders and lasts
until the information is publicly disclosed through the Stock
Exchange.

Information Technology
Governance
The Company's IT governance is designed to ensure that supports the development of new services, enhances
technology is managed effectively to support business goals, customer satisfaction, and strengthens the Company’s
enhance operational efficiency, and mitigate risks associated competitive edge in an increasingly dynamic market.
with IT usage. This governance framework covers strategic
planning, infrastructure management, data security, and The Company ensures its operations are built on a fast-
compliance with relevant regulations. response system through IT implementation. By adopting
the latest technology, AKR can quickly and accurately adapt
Optimizing IT in AKR’s business processes not only reinforces to market demands and evolving conditions. Overall, the
cost leadership but also drives more effective and efficient Company embraces IT strategies that integrate relevant
long-term sustainability. By leveraging integrated IT systems technological advancements to enhance competitiveness,
and process automation, AKR can lower operational costs, drive productivity, and ensure continuous innovation and
boost productivity, and accelerate data-driven decision- sustainable growth.
making. Additionally, effective IT utilization fosters innovation,

Collaboration Simplification

Assurance &
Automation
Governance

In the development of IT systems, AKR is based on 4 (four) 3. Simplification: Streamlining processes to eliminate
values, as follows: nonvalue-added tasks and unnecessary or excessive tasks.
1. Collaboration: Developing productivity across business 4. Assurance & Governance: Ensuring availability, traceability,
processes. Key aspect: Mobility. security, and alignment with overall business and business
2. Automation: Simplifying workflows and shortening objectives.
processing periods.

Annual Report 2024 239

 Corporate Governance

IT Manager

The person responsible for the management and development of IT at AKR is under the Information Technology Department.

Information Technology

IT Development
IT Business Partner & IT Business Partner & IT Development IT Infrastructure & IT Security
(Core Systems &
N.2

Data Analytics Management Office (Device & Field) Operations Compliance

Satellite Apps.)

IT Data Center
IT Business Partner MIS Functional Analyst Developer Security Monitoring
Operations

Devices Support &

User Help Desk Developer Network
Integration
N.3

IT Application DBA & Deployment

Support Admin

Device & Field

Support

IT & Technical
Support
Location at branches

Challenges and Strategic Programs of the IT Division in 2024

In line with increasing business complexity and emerging significant challenges in the implementation of IT in 2024.
challenges, the need to maintain data integrity and accuracy Strategic programs have been implemented based on the
has become increasingly critical. Regular reviews are therefore values of Collaboration, Automation, Simplification, and
essential to identify processes suitable for simplification and Assurance & Governance, as outlined below:
automation in order to support the continuity and efficiency of
business operations. Integration
A thorough review has been conducted by the IT Division to
The IT Division has identified the need to enhance network ensure full integration of all implemented applications and
connectivity stability between the head office and branch systems into a unified and interconnected framework. These
offices, considering that the Company’s operations are do not operate in isolation but are linked for a seamless
spread across Indonesia, encompassing activities both data exchange, speeding up the end-to-end processes.
on land and at sea. There are also growing threats to Comprehensive integration efforts have been applied to
cybersecurity and data protection which have emerged as the Procure to Pay and Order to Cash processes, covering;

240 Annual Report 2024

the Customer Relationship Management (CRM) system for Security
generating sales orders; Enterprise Resource Planning (ERP) Technology-based security enhancements have been
for managing purchase orders, inventory, invoicing, and prioritised through monitoring and oversight as the IT Division
payments; the Displan system for coordinating deliveries to has implemented multi-factor authentication at three levels:
customers; and the SCADA system for blending and filling password, token, and biometric. Security hardening measures
operations, all of which are interconnected. The objective now safeguard digital assets from potential threats, including
is to minimise human error and reduce the risk of fraud those related to Personal Data Protection (PDP). Additional
while enhancing process speed where the IT Division seeks data protection was introduced through encryption to
ways to enhance efficiency, speed, and accuracy without prevent external data leaks, accompanied by preventive
compromising existing process quality. measures such as IT Security Awareness and training programs
for Company personnel.
Network
Data network and connectivity, the backbone for application
and system performance, are critical for operational speed
and efficiency. Therefore, network enhancements have been
implemented by integrating local providers with Starlink to
reach remote areas beyond the coverage of conventional
providers. The adoption of Starlink has improved network
performance and better operations at branch offices and
onboard vessels, while also seeing more competitive cost
efficiency than with previous solutions.

IT Investment and Socialization

The Company continues to invest in IT development as part of its commitment to supporting digital transformation and enhancing
operational efficiency. These IT investments include hardware and software upgrades, network infrastructure improvements,
and the implementation of more advanced systems to support various business processes. Through these efforts, the Company
ensures that its technology remains up-to-date, secure, and capable of meeting its evolving needs.

AKR Digital Transformation

CRM Application
Customer Budget
Customer Discount Simulation
Sales Order Distribution Planning System
Ordering Process Daily Forecasting
Monthly Forecasting
Daily Planning
AKR Enterprise Resouce Tariff Management
Planning Fleet Management System

MOS (Mobile Ordering System) Queuing System

Registration Time
Weighbridge Time
Loading/Unloading Time
Covering Time

Shipment Process

Reporting

Annual Report 2024 241

 Corporate Governance

Investments have been made by enhancing the capabilities In 2024, the IT Department conducted technical training
of employees responsible for managing the Company’s IT sessions and awareness programs related to data security
systems through training sessions and workshops to ensure for all employees. One of them was socialization of the
that employees have a solid understanding of the IT systems Compliance Review of the Personal Data Protection (PDP)
in use. These also include education on the importance of Law, and a dedicated Task Force Team was established,
data security, information privacy, and compliance with comprising the Legal and IT divisions.
existing IT policies and procedures, so that the technology
implemented supports the Company’s objectives in a secure
and effective manner.

Data Privacy and Cyber Security

The Company recognises that rapid technological parties can access critical information and to minimize the
advancement brings not only convenience but also risk of data breaches. Regular cybersecurity training and
challenges, particularly in the areas of data protection awareness program are also provided to employees to
and cyber security. The Company has strengthened the maintain data security.
implementation of data protection and cybersecurity across
all operational lines. This includes the enforcement of a IT governance at AKR is conducted through an organisational
comprehensive cyber security policy to manage risks related structure based on functional roles to ensure the
to the confidentiality, integrity, and availability of information effectiveness, efficiency, and security of the Company’s
within the corporate environment. digital operations. Each function plays a strategic role,
including data centre management, network operations,
The Company has established policies, governance application development, technical support, and
structures, and standard procedures concerning data privacy cybersecurity monitoring. In addition, IT services are provided
and cyber security, as outlined in the following documents: at branch offices to ensure comprehensive support for all
• ITE-SCO-SCO-POL-001 – IT Security Policy business operations. This approach reflects the Company’s
• ITE-SCO-SCO-PRO-001 – Cyber Security Incident commitment to integrated IT governance that is responsive to
Response the evolving needs of the business.

AKR recognized the importance of data protection amid Throughout 2024, the Company recorded no incidents of
increasing cybercrime risks. To safeguard the security and personal customer data breaches. Continuous efforts are
confidentiality of personal and customer data, various undertaken to protect the security and confidentiality of data
technologies such as data encryption, multi-factor through consistent implementation of systems, policies, and
authentication (MFA), data masking, and tokenization have oversight to maintain the trust of all stakeholders.
been introduced. These measures ensure that only authorized

Strengthening IT Governance

The Company has undertaken several initiatives where the key enabling seamless end-to-end processes without
measures include: manual intervention. In addition, management reporting
1. Digital Twin and information systems are being enhanced to deliver
Digital twin technology enhances IT governance by accurate and reliable data for decision-making.
creating virtual replicas of physical environments, enabling 4. Automated Reconciliation
more effective monitoring and management of IT assets. To ensure data accuracy and consistency across systems,
The technology supports system landscape mapping, Automated Reconciliation aids in quickly identifying and
provides a comprehensive view of potential issues, and resolving discrepancies, thereby reducing the risk of errors
facilitates proactive risk mitigation. and enhancing overall data integrity.
2. Centralised Access Management
Centralised Access Management streamlines and secures AKR is committed to maintaining strong IT governance
access to IT resources, ensuring that only authorised through continuous improvement and the adoption of
personnel can access sensitive data and systems. advanced technologies. These efforts ensure data privacy,
3. Simplification and Standardisation of Architecture cybersecurity, and operational resilience in the face of
Simplifying IT architecture improves efficiency and disruptions and disasters.
reduces complexity. This includes integrating ERP systems
and other satellite applications through API management,

242 Annual Report 2024

 Future IT Development Plans

In an increasingly advanced digital era, Artificial Intelligence 2. Medium-Term

(AI) is playing a pivotal role in driving innovation and Development of a comprehensive digital workspace with a
operational efficiency. A strategic IT roadmap has therefore focus on automation and operational efficiency, supported
been developed, centred on AI implementation to achieve by the integration of AI into daily operational tools. This
sustainable digital transformation, optimise business phase includes the expansion of AI agents for various
processes, enhance security, and deliver an improved functions (e.g., sales, inventory management), revamping
customer experience. of business applications, and adoption of a mobile-first
approach for all business tools.
The IT roadmap has been structured into three (3) phases: 3. Long-Term
short-term, medium-term, and long-term, with the focus of Realisation of full digital transformation through initiatives
each phase outlined below: such as ONE Ops (One Operation), consolidation of end-
1. Short-Term to-end business tools, AI Ops – AI-driven operations,
Establishment of a strong digital foundation through IT deployment of agentic AI, and integration of computer
standardisation and improvements in applications and vision technology and Industrial Internet of Things (IIoT) to
infrastructure. Key initiatives include the implementation reduce human error.
of digital twin technology, data centre upgrades, server
enhancements, network expansion, cybersecurity
strengthening, and the planning of Business Continuity and
Disaster Recovery testing.

Guidelines for the Implementation of

Corporate Governance Principles
The Company integrates a governance-oriented culture by The Company focuses on three key aspects in implementing
embedding GCG values into all business processes, including corporate governance:
procurement procedures, employee selection, admissions, 1. Compliance – Ensuring adherence to good corporate
reporting, and marketing procedures. Periodically, the governance across all areas, including policy
Company conducts activities to provide external parties implementation.
with information on its operational and financial performance 2. Confidence – Instilling optimism and trust that the Company
through: consistently delivers the best for all stakeholders.
• Investor relations activities, including analyst meetings and 3. Transparency – Prioritizing openness and providing
roadshows to various investment institutions necessary information to investors.
• Annual public exposé
• Regular updates to the Company's website (www.akr.co.id)
• Periodic distribution of news releases to stakeholders

Annual Report 2024 243

 Corporate Governance

In its corporate governance implementation, AKR refers The governance guidelines cover five aspects, eight
to the Financial Services Authority Regulation (POJK) No. principles, and 25 recommendations for applying governance
21/POJK.04/2015 on the Implementation of Corporate principles. These serve as the standard framework that the
Governance Guidelines for Public Companies and the Company must implement under the "comply or explain"
Financial Services Authority Circular Letter (SEOJK) No. 32/ approach. The implementation details are outlined as follows:
SEOJK.04/2015 on Corporate Governance Guidelines for
Public Companies.

No. Principle Recommendation Implementation Explanation Details

1. Aspect 1: The Relationship Between the Company and Shareholders in Ensuring Shareholders' Rights.
Principle 1: Enhancing The Company has technical At the Annual General Meeting of Met
the Value of GMS procedures for voting, either Shareholders held on April 29, 2024,
Implementation openly or confidentially, that the decision-making mechanism
prioritize independence and the for meeting agenda items and the
interests of shareholders. procedures for shareholders to
exercise their rights to ask questions
and/or provide opinions were outlined
in the Meeting Rules. These rules
were uploaded to the Company's
website, distributed to shareholders
before entering the meeting room,
and summarized by the moderator
before the meeting commenced. The
Company appointed an independent
party, PT Raya Saham Registra as the
Securities Administration Bureau, and
Notary Aryanti Artisari, S.H., M.Kn, to
oversee the vote counting process
and/or validation.
All members of the Board of Considering OJK Letter No. Not met and
Directors and the Board of S-92/D.04/2020 dated March 18, explained.
Commissioners of the Company 2020, the Annual General Meeting of
attend the GMS. Shareholders (GMS) was conducted
as efficiently as possible in a hybrid
format, facilitated by the eASY KSEI
application, while maintaining its
validity and complying with applicable
regulations.
• All members of the Board of
Commissioners attended the GMS,
including Soegiarto Adikoesoemo
(President Commissioner), Sofyan A.
Djalil (Commissioner), and Mohamad
Fauzi Maulana Ichsan (Independent
Commissioner).
• The Board of Directors was
represented by Haryanto
Adikoesoemo (President Director),
Jimmy Tandyo (Director), Suresh
Vembu (Director), Nery Polim
(Director), Termurti Tiban (Director),
Bambang Soetiono Soedijanto
(Director), and Mery Sofi (Director),
who participated via video
conference through eASY KSEI.
The summary of the GMS minutes The summary of the GMS minutes has Met
is available on the Company's been made available on the Company's
website for at least one (1) year. website.

244 Annual Report 2024

No. Principle Recommendation Implementation Explanation Details

Principle 2: Enhancing The Company has a The Company has a communication Met
the Quality of communication policy with policy with shareholders or investors.
Communication shareholders or investors. It regularly updates information for
Between the Company shareholders or investors through the
and Shareholders or Company’s website. Shareholders
Investors. can directly communicate to obtain
necessary information by contacting
the Investor Relations or Corporate
Secretary via the contact number or
email provided on the Company’s
website.
The Company discloses its The Company discloses its Met
communication policy with communication policy with
shareholders or investors on its shareholders or investors on its
website. website. It has also provided a
request information form to facilitate
communication with shareholders or
investors at www.akr.co.id/request.
II. Aspect 2: Functions and Roles of the Board of Commissioners
Principle 3: The determination of the number The determination of the number of the Met
Strengthening of Board of Commissioners Company's Board of Commissioners
the Membership members considers the members has been made by
and Composition condition of the Company. considering the Company's condition
of the Board of and in accordance with the provisions
Commissioners of POJK No. 33/POJK.04/2014 on
the Board of Directors and Board of
Commissioners of Issuers or Public
Companies.
The composition of the Board of The composition of the Board of Met
Commissioners is determined Commissioners is determined by
by considering the diversity considering the diversity of expertise,
of expertise, knowledge, and knowledge, and experience of
experience required. each member to ensure effective
supervisory functions within the
Company. As of December 31, 2023,
the Board of Commissioners consisted
of three members.
Principle 4: Improving The Board of Commissioners The Company's Board of Met
the Quality of the has a self-assessment policy to Commissioners has a self-assessment
Implementation evaluate its performance. policy to evaluate its performance.
of Duties and
The self-assessment policy to The self-assessment policy to evaluate Met
Responsibilities
evaluate the performance of the performance of the Board of
of the Board of
the Board of Commissioners Commissioners has been disclosed
Commissioners.
is disclosed through the through the Company's Annual Report.
Company's Annual Report.
The Board of Commissioners has The Board of Commissioners has a Met
a policy regarding the resignation policy on the resignation of members in
of its members if involved in case of involvement in financial crimes,
financial crimes. in accordance with the Company's
Board of Directors and Board of
Commissioners Code of Conduct and
relevant regulations.
The Board of Commissioners The Nomination and Remuneration Met
or the Committee responsible Committee has implemented the
for the Nomination and principles of the succession policy
Remuneration function develops in the nomination process for the
a succession policy for the members of the Board of Directors
nomination process of Board of and the Board of Commissioners of
Directors members. the Company, in accordance with
the Nomination and Remuneration
Committee Charter.

Annual Report 2024 245

 Corporate Governance

No. Principle Recommendation Implementation Explanation Details

III. Aspect 3: Functions and Roles of the Board of Directors

Principle 5: The determination of the number The determination of the number of Met
Strengthening the of Board of Directors members the Company's Board of Directors
Membership and considers the condition of members is made by considering the
Composition of the the Company as well as the condition of the Company and the
Board of Directors. effectiveness in decision- effectiveness in decision-making,
making. in accordance with the Articles of
Association and the Board of Directors
and Board of Commissioners Code of
Conduct.
The composition of the Board The composition of the Board of Met
of Directors is determined by Directors has been determined by
considering the diversity of considering the diversity of expertise,
expertise, knowledge, and knowledge, and experience required to
experience required. effectively carry out the management
functions and responsibilities of the
Company.
Members of the Board of Ms. Termurti Tiban, a member of the Met
Directors responsible for Board of Directors responsible for
accounting or finance have accounting or finance, has experience,
expertise and/or knowledge in expertise, and/or knowledge in the
the field of accounting. field of accounting. She has undergone
the nomination process conducted
by the Nomination and Remuneration
Committee and was subsequently
reappointed through the decision
of the Annual General Meeting of
Shareholders on April 30, 2020.
Principle 6: Improving The Board of Directors has a self- The Company's Board of Directors has Met
the Quality of the assessment policy to evaluate its a self-assessment policy to evaluate its
Implementation performance. performance.
of Duties and
The self-assessment policy to The self-assessment policy to evaluate Met
Responsibilities of the
evaluate the performance of the the performance of the Board of
Board of Directors.
Board of Directors is disclosed Directors has been disclosed through
through the Company's annual the Company's annual report.
report.
The Board of Directors has a The Board of Directors has a policy Met
policy regarding the resignation regarding the resignation of its
of its members if they are members if they are involved in financial
involved in financial crimes. crimes, in accordance with the Board of
Directors and Board of Commissioners
Code of Conduct and relevant
regulations.
IV Aspect 4: Stakeholder Participation

246 Annual Report 2024

No. Principle Recommendation Implementation Explanation Details

Principle 7: The Company has a policy to The Company has a policy to prevent Met
Enhancing Corporate prevent insider trading. insider trading, one of which is by
Governance Aspects establishing a blackout period of 10
through Stakeholder days before the release date of the
Participation. financial statements, and requiring
management as insiders to report any
share transactions to the corporate
secretary.
The Company has an anti- The Company has an anti-corruption Met
corruption and anti-fraud policy. and anti-fraud policy outlined in the
Company's Code of Ethics.
The Company has a policy on the The Company has a policy on the
selection and development of selection and development of
suppliers or vendors. suppliers or vendors.
The Company has a policy on The Company has a policy on fulfilling
fulfilling the rights of creditors. the rights of creditors.
The Company has a The Company has a whistleblowing
whistleblowing system policy. system policy. In 2021, the Company
improved the whistleblowing system by
adding reporting channels. Previously,
the reporting system was based only on
a website/online form, but it is now also
accessible via email and WhatsApp.
This system is expected to optimize
the whistleblowing reporting process
within the company.

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The Company has a policy for The Company has an MSOP program
providing long-term incentives granted to the Board of Directors, the
to the Board of Directors and Board of Commissioners (excluding
employees. Independent Commissioners and
certain employees). The MSOP 2015
program ended on April 8, 2020.
V V Aspect 5: Information Disclosure
Principle 8: Enhancing The Company utilizes information The Company's information disclosure Met
the Implementation of technology more widely, in has been carried out through the
Information Disclosure. addition to the website, as Indonesia Stock Exchange website and
a medium for information also the Company's website.
disclosure.
The Annual Report of the The 2020 Annual Report disclosed
Company discloses the ultimate the ultimate beneficial owners, the
beneficial owners with at least 5% Company's Shareholder List with
(five percent) ownership of the ownership greater than 5%, and also
Company's shares, in addition the 20 largest shareholders of the
to the disclosure of the ultimate Company.
beneficial owners through
the main shareholders and
controlling parties.

Annual Report 2024 247

 Corporate Governance

Compliance with the Implementation of Corporate Governance Guidelines

No Description Status Implementation

1 Roles and Responsibilities of the Board of Directors and the Board of Commissioners
1.1 Roles and Responsibilities of the Board of Directors
Recommendations
To achieve sustainable value creation, the Met In the Code of Conduct at AKR, the values that MUST
Board of Directors fulfils its leadership be adhered to by the Board of Directors and Board of
role and strives to achieve the following Commissioners include:
governance outcomes:
• Competitive and focused on long- • Integrity
term performance; • Commitment
• Ethical and responsible in conducting • Teamwork
business. • Honest and open communication
• Contributes positively to society and • Trust and respect
the environment; and • Value creation
• Capable of resilience and growth • Continuous improvement
(corporate resilience).
Each member of the Board of Directors and Board of
Commissioners is required to optimize their abilities to
achieve the company's vision and mission in enhancing the
value for shareholders and stakeholders continuously, while
complying with applicable regulations.

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1.1.2 The Board of Directors must ensure that Met In the Board of Directors and Board of Commissioners'
the mission, vision, goals, objectives, code of conduct at AKR, it is stated that the values that
strategies, and annual and medium-term MUST be adhered to by the Board of Directors and Board
plans of the company are aligned with of Commissioners include: Each member of the Board
long-term objectives, by effectively of Directors and Board of Commissioners must optimize
utilizing innovation and technology. their abilities to achieve the company's vision and mission
in continuously enhancing the value for shareholders and
stakeholders.

AKR continues to evolve by adjusting to the needs of

its stakeholders to grow sustainably, one of which is by
optimizing its IT system to monitor product movement and
status, as well as planning efficient distribution. AKR has
proven that the Company can deliver consistent performance
during various crisis and economic phases, which also
demonstrates AKR's success in adapting and transforming to
remain relevant amidst change.

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1.1.3 The Board of Directors ensures that the Met The Board of Directors ensures a risk management culture
company implements an appropriate throughout all levels of the organization with a tone from the
and effective risk management and top approach, starting from top management. The Board of
internal control system that aligns with Directors ensures that the effectiveness of risk management
the company's vision, mission, goals, implementation becomes an integral part of the Company's
objectives, and strategies, while also business activities by regularly reviewing the risk profile and
complying with applicable laws and reports, including ensuring and providing insights on the risks
standards. prioritized for mitigation, reviewing mitigation controls to
ensure successful implementation, and ensuring adequate
human resources to manage strategic risks.
1.1.4 The Board of Directors ensures the Met
integrity of the accounting and financial
reporting systems of the company and
the timely and accurate disclosure of
all material information regarding the
company.
1.1.5 The Board of Directors ensures that the Met The sustainability report has been prepared based on POJK 51
sustainability report has been properly and GRI 2021 with references.
prepared.

248 Annual Report 2024

 No Description Status Implementation

1.1.6 The Board of Directors establishes a Met AKR's technology system is designed to ensure the quality
framework for corporate information and quantity of products reach consumers and to prevent
technology (IT) governance that aligns fraud in the distribution process. The technology system
with the company's business needs and also facilitates ease of work through online platforms such
priorities, drives business opportunities as Teams, Outlook, and CRM, while ensuring cybersecurity
and performance, strengthens risk protection.
management, and supports the
company's goals and strategies.
1.1.7 For companies operating based on N.A
Sharia principles, the Board of Directors
needs to ensure the authority and
availability of adequate supporting tools
so that the Sharia Supervisory Board can
perform its role effectively.
1.1.8 The Board of Directors' Charter is Met The Board of Directors' Charter, in the form of the Board of
reviewed periodically. It includes, Directors and Board of Commissioners' Code of Conduct,
among other things, the division of was signed in 2015 and is still considered relevant as a working
roles of individual directors, which can guideline.
be outlined in the Board of Directors'
Charter or through a decision letter from Ref: https://www.akr.co.id/storage/files/
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the Board of Directors.
1.1.9 The Board of Directors has a policy Met A member of the Board of Directors has the right to resign from
regarding the resignation of its members their position and must submit a written resignation request
if they are involved in financial crimes to the Company at least 90 days before the resignation
and are proven to have committed date. The Company is required to hold a General Meeting of
misconduct. Shareholders to decide on the resignation request within a
maximum of 90 days after receiving the resignation letter. If
the Company fails to hold the GMS within the specified period,
the resignation of the Board member becomes valid without
the need for GMS approval. A resigning Board member may
still be held accountable for their duties as a member of the
Board until the date of their resignation in the next GMS.

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1.2 Performance Evaluation – Board of Directors and Its Members

Recommendations
1.2.1 The Board of Commissioners conducts Met The Board of Commissioners evaluates the performance
an objective and independent annual of the Board of Directors based on indicators such as the
formal evaluation to determine the alignment with the Code of Conduct, the execution of each
effectiveness of the Board of Directors director's duties and responsibilities, the implementation
and each individual director. of GMS decisions, the achievement of the Company's
performance in financial, operational, and administrative
aspects, and compliance with applicable laws and the
Company's policies.

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Annual Report 2024 249

 Corporate Governance

No Description Status Implementation

1.2.2 The Board of Commissioners, with the Met • The Board of Commissioners is responsible for overseeing
consideration of the Nomination and management policies, the general management process,
Remuneration Committee, is responsible both concerning the company and its business, as
for determining the performance well as providing advice to the Board of Directors. The
evaluation criteria and assessing the Board of Commissioners must carry out its duties and
performance of the President Director responsibilities in good faith, with full accountability and
and other members of the Board of caution.
Directors. • To support the effectiveness of the Board of
Commissioners' duties and responsibilities, the Board of
Commissioners may establish committees, including the
Nomination and Remuneration Committee.
• One of the committee's tasks is to review and evaluate
the performance of the Board of Directors and the Board
of Commissioners members in relation to the work
culture applied in the company, the implementation of
Good Corporate Governance, the overall operational
performance of the company, the company's actual
achievements, and the alignment of work between the
vision and mission.
1.3 Peran dan Tanggung Jawab Dewan Komisaris
Recommendations
1.3.1 The Board of Commissioners reviews Met • Each member of the Board of Commissioners must exert
the corporate strategy at least annually their full capabilities to achieve the company's vision and
and approves the mission, vision, and mission.
corporate strategy formulated by • The Board of Commissioners is responsible for overseeing
the Board of Directors. The Board of the management policies, the general management
Commissioners also reviews, provides process, both concerning the Company and its business,
advice, and approves the company's as well as providing advice to the Board of Directors. The
business plan, long-term financial plan, Board of Commissioners must carry out its duties and
and short-term financial plan. The Board responsibilities in good faith, with full accountability and
of Commissioners provides advice and caution.
monitors the Board of Directors on the
implementation of management. The Ref: https://www.akr.co.id/storage/files/
fpjwtglDzSgLAyrC3hiurL2PFmeuaeAhrIOQvemr.pdf
Board of Directors and the Board of
Commissioners are involved in decisions
that are crucial, as regulated in the
Company's Articles of Association.
1.3.2 The types of decisions that require the Met It is stated in the Corporate Governance chapter under the
approval of the Board of Commissioners Board of Commissioners section.
must be disclosed in the Annual Report.
1.3.3 Taking into account the Met In the Nomination and Remuneration Committee charter, it
recommendations of the Nomination is stated that as part of the committee's duties, discussions
and Remuneration Committee, the are held to propose new members of the Board of Directors
Board of Commissioners proposes and/or the Board of Commissioners to the Board of
to, and for approval by, the General Commissioners, which will then be used as discussion material
Meeting of Shareholders (GMS) the in the GMS.
appointment and/or dismissal of
members of the Board of Directors Ref: https://www.akr.co.id/storage/files/
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and the Board of Commissioners. In
making these proposals, the Board of
Commissioners considers diversity,
non-discriminatory elements, and
provides equal opportunities without
distinction of ethnicity, religion, race,
inter-group, or gender. The Board
of Commissioners ensures that the
nomination and election process for
members of the Board of Directors and
the Board of Commissioners is formal
and transparent.

250 Annual Report 2024

 No Description Status Implementation

1.3.4 The Board of Commissioners or N.A

the Committee responsible for the
nomination function develops a
succession policy for the nomination
process of Board of Directors members.
Each year, the Board of Commissioners
reviews the implementation report of
the development and succession plan
submitted by the President Director.
1.3.5 The Board of Commissioners: Met The tasks of the committee related to remuneration include:
• Proposes to the General Meeting • Reviewing and evaluating the performance of each
of Shareholders (GMS), which may member of the Board of Directors and the Board of
be preceded by a proposal from Commissioners in relation to the implementation of
the Committee responsible for the good corporate governance; the overall operational
remuneration function, the amount performance of the company; the actual achievements
of remuneration for members of the of the company; alignment between the company's
Board of Directors and the Board vision and mission; the alignment between strategy and
of Commissioners, aligning it with innovation, and the achievements in enhancing value for
the sustainable development of the shareholders.
company and the long-term interests • Based on the above, discussing and determining the
of the company and its shareholders; amount of remuneration for the members of the Board of
• Periodically reviews the remuneration Directors and the Board of Commissioners, which is then
system for the Board of Directors and used as discussion material in the General Meeting of
the Board of Commissioners. Shareholders (GMS).
• Carrying out other tasks related to remuneration as
assigned by the Board of Commissioners.

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1.3.6 The Board of Commissioners oversees Met Members of the Board of Commissioners must carry out
the effectiveness of corporate their duties in good faith, with full responsibility and caution,
governance policies and their while always complying with applicable laws and regulations,
implementation, and proposes changes including those related to the implementation of Good
if necessary. Corporate Governance and the Company’s Articles of
Association.

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1.3.7 The Board of Commissioners monitors Met As a form of accountability, the Board of Commissioners
and directs the company to implement must ensure that the Board of Directors has designed
an appropriate and effective risk an appropriate risk management system to manage the
management and internal control Company's key risks, and carries out oversight through
system that aligns with the Company’s the committees formed to ensure the implementation of
objectives, goals, and strategies, and an effective internal control system, as well as ensuring an
complies with applicable laws, Codes of integrated risk management process and system. In this
Conduct, and standards. regard, AKR's internal audit regularly reports its activities to
the Board of Directors and the Audit Committee

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1.3.8 The Board of Commissioners oversees Met As part of its responsibility, the Board of Commissioners must
and directs the integration of accounting ensure an effective internal control system, an integrated
and corporate financial reporting accounting and financial reporting system, and transparent
systems, as well as the independence of disclosures that are accountable.
internal and external audit functions.
1.3.9 The Board of Commissioners monitors, Met The Board of Commissioners must review and assess the
reviews, and approves the company's periodic reports and the Annual Report prepared by the Board
Annual Report and Sustainability Report, of Directors, sign the Annual Report, provide explanations,
ensuring their integrity, and oversees the opinions, and suggestions to the GMS regarding the Annual
disclosure and communication process Report if requested, and then be accountable to shareholders
of the Company. through the GMS.
1.3.10 The Board of Commissioners' Charter is Met The Board of Commissioners' Charter, in the form of the Board
reviewed periodically. of Directors and Board of Commissioners' Code of Conduct,
was signed in 2015 and is considered still relevant as a working
guideline.

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1.3.11 The Board of Commissioners has a policy Met The criteria for AKR's Board of Commissioners include having
regarding the resignation of its members good integrity and reputation, meaning they have never
if they are involved in financial crimes been directly or indirectly involved in fraudulent acts, deviant
and are proven to have committed practices, breach of promises, or other actions that harm the
misconduct. Company in which they are or were employed.

All management, including the Company's organs, are

required to sign the Integrity Pact, which states that if they are
proven to violate the Integrity Pact, they are willing to resign
without receiving any compensation from the company and
agree to face sanctions in any form, including but not limited
to administrative sanctions and claims for damages, both
civil and/or criminal, in accordance with applicable laws and
regulations.
1.3.12 Independent commissioners are Mr. Fauzi Ichsan, as an Independent Commissioner,
highly expected to contribute consistently attends committee meetings, commissioners'
to honest, objective, active, and meetings, and joint meetings. He actively provides objective
constructive discussions in the Board of opinions and input, which are documented in the internal
Commissioners' meetings. meeting minutes.
1.3.13 The President Commissioner acts Met Mr. Soegiarto Adikoesoemo, as the President Commissioner,
as the coordinator of the Board always provides opportunities for members of the Board of
of Commissioners and ensures Commissioners and directors to express their opinions during
its effectiveness. The President meetings. He is also active in providing objective opinions and
Commissioner encourages a culture of input, which are documented in the internal meeting minutes.
openness and constructive dialogue,
allowing various views to be expressed,
including coordinating the establishment
of an appropriate meeting agenda for
the board and ensuring sufficient time is
available to discuss all items. Additionally,
there should also be opportunities for
the Board of Commissioners to meet
with the Board of Directors and senior
management.
1.4 Formation of Committees
Recommendations
1.4.1 The corporation has committees Met The Company has an Audit Committee, Nomination &
under the Board of Commissioners, Remuneration Committee, and Internal Audit integrated
consisting of at least the following: with Risk Management, working under the Board of
Audit Committee, Nomination and Commissioners. We also now have an ESG Committee, which
Remuneration Committee, and Risk was formed to assist the Board of Directors and the Board of
Management Monitoring Committee. Commissioners in formulating sustainability strategies and
their implementation.

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1.4.2 The Board of Commissioners ensures Met The Company's Audit Committee is supported by the
that all members of the Audit Committee Internal Audit Department, which has a vision to become
are independent, and that other an independent, objective, and professional unit that adds
committees formed by the Board of value to support the Company's Management in achieving
Commissioners are predominantly business objectives, vision, and mission. The members of the
composed of independent parties. Audit Committee must be independent, with a background in
Additionally, all committee members business understanding and knowledge.
possess the necessary competence,
commitment, and authority to perform In carrying out its duties, the Audit Committee provides
their roles effectively and independently. independent opinions to the Board of Commissioners
on disagreements between management and auditors;
recommendations to the Board of Commissioners regarding
the appointment of auditors based on independence, scope
of assignments, and service fees; and reviews the audit
findings conducted by internal auditors and oversees the
follow-up on the internal auditors' findings.

The Company's Audit Committee has a background in

Finance & Accounting and a strong understanding of AKR's
business, enabling them to provide objective opinions on
AKR's financial and business aspects.
1.4.3 To ensure objective and independent Met The AKR Audit Committee is chaired by Mr. Fauzi Ichsan,
oversight of the Audit Committee's serving as the Independent Commissioner.
duties, the President Commissioner
must not serve as the chair of the Audit Ref: https://www.akr.co.id/storage/
files/2UWaLw3umSMsE1JoTEbotvZqcN2H2jNLAx8ODcNL.pdf
Committee, except in exceptional
circumstances, which must be explained
in the Annual Report.
1.5 Performance Evaluation – Board of Commissioners and Its Members
Recommendations
1.5.1 The Board of Commissioners conducts Met The Board of Commissioners conducts an annual evaluation
an objective annual formal evaluation of the effectiveness of its members, with input from the
to determine the effectiveness of committees under it.
the Board, its committees, and each
individual commissioner.
1.6.1 A member of the Board of Directors who The members of AKR's Board of Directors do not hold
holds a concurrent position outside concurrent positions outside the Company. If there is an offer
the corporation must obtain approval for a position outside the Company, the Director must seek
from the Board of Commissioners. A the consideration of the Board of Commissioners through the
commissioner must inform the Board Nomination & Remuneration Committee.
of Commissioners and the chairman
of the committee performing the
nomination function before accepting
a new appointment as a director or
commissioner of a public company,
another director position, or any other
role with a significant time commitment.
1.6.2 The Board of Commissioners monitors Met In the event that a member of the Board of Directors has a
and manages potential conflicts of conflict of interest with the Company, the entity authorized to
interest among management, members represent the Company is:
of the Board of Directors, the Board • Another member of the Board of Directors who does not
of Commissioners, and shareholders, have a conflict of interest with the Company;
including the misuse of corporate assets • The Board of Commissioners, if all members of the Board of
and abuse in related-party transactions. Directors have a conflict of interest with the Company; or
Commissioners who have a conflict of • A third party appointed by the General Meeting of
interest do not participate in monitoring Shareholders (GMS), if all members of the Board of
or decision-making regarding potential Directors or the Board of Commissioners have a conflict of
conflicts of interest involving the interest with the Company.
commissioner or their affiliates.

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1.7 Competence Enhancement of the Board of Directors and the Board of Commissioners
Recommendations
1.7.1 The Board of Commissioners ensures that Met The Company Secretary actively provides updates on the
members of the Board of Directors and latest regulations and seminars that the Board of Directors
the Board of Commissioners understand and the Board of Commissioners can attend to refresh their
their roles and responsibilities, the knowledge and skills, especially in governance, ESG issues,
characteristics and operations of the and the economy.
company, relevant laws and regulations,
and other applicable obligations.
The Board of Directors, through the
corporate secretary, supports all
members of the Board of Directors and
the Board of Commissioners in updating
and refreshing the skills and knowledge
required to perform their roles effectively
in the Board.
2 Composition and Remuneration of the Board of Directors and the Board of Commissioners
2.1 Composition of the Board of Directors
Recommendations
2.1.1 In determining potential director N.A
candidates, the Board of
Commissioners, through the Nomination
and Remuneration Committee, does not
solely rely on recommendations from the
Board of Commissioners, management,
or majority shareholders. The Board of
Commissioners, through the Nomination
and Remuneration Committee, may
use independent sources to identify
qualified candidates.
2.1.2 The Board of Commissioners ensures Met The criteria for the Board of Directors and Commissioners are
that the criteria for selecting members included in the Board of Directors and Commissioners' Code
of the Board of Directors include at of Conduct, which has adopted POJK 33/2014, focusing
least the knowledge, abilities, and on the abilities, capacity, and integrity of the potential
expertise required to properly fulfill the candidates. AKR has also made statements and commitments
role of the Board of Directors, while also regarding the protection of human rights policies, which apply
considering the achievement of diversity to all management and corporate bodies.
within the Board of Directors.
2.1.3 The Company's policy on diversity in Met AKR has made a statement and commitment regarding
the Board of Directors and the Board of the protection of human rights policies, which apply to all
Commissioners is disclosed in the Annual management and corporate organs.
Report.
2.1.4 The Board of Commissioners ensures Met In the selection and nomination of commissioners, the
that the policies and procedures process is entirely carried out internally:
for the selection and nomination • The Nomination and Remuneration Committee provides
of Commissioners are clear and recommendations to the Board of Commissioners
transparent, so as to achieve the desired regarding the composition of the Board of Commissioners
composition of the Board. The Board and suggests qualified candidates to be presented at the
of Commissioners uses independent General Meeting of Shareholders (GMS).
sources to determine qualified • The Board of Commissioners submits the names of
candidates. qualified candidates to the GMS for approval.
• Members of the Board of Commissioners are appointed
by the GMS for a term starting from the date of their
appointment until the closure of the fifth subsequent
Annual General Meeting of Shareholders, without prejudice
to the GMS's right to dismiss them at any time.

Ref: https://www.akr.co.id/storage/files/
fpjwtglDzSgLAyrC3hiurL2PFmeuaeAhrIOQvemr.pdf

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2.1.5 The Board of Commissioners/ Met The criteria for the Board of Directors and Commissioners are
Committee performing the nomination included in the Board of Directors and Commissioners' Code
function establishes nomination of Conduct, which has adopted POJK 33/2014, focusing
procedures and criteria that are on the abilities, capacity, and integrity of the potential
consistent with the skills matrix of the candidates.
Board of Commissioners, as approved
by the Board of Commissioners, and
ensures that the candidate profiles meet
the requirements set out in the skills
matrix and nomination criteria.
2.1.6 The composition of the Board of Met Composition of the Board of Commissioners for the fiscal
Commissioners should be structured in year 2024:
such a way that its members, as a group, • Soegiarto Adikoesoemo – President Commissioner:
reflect diversity in terms of abilities, Founder of AKR with extensive business experience in the
expertise, knowledge, experience, age, chemical and logistics industries.
cultural background, and gender, which • Sofyan A. Djalil – Commissioner: With over 13 years of
are necessary to effectively fulfill the role experience in both the public and private sectors, serving
of the Board of Commissioners. as a Minister in various government positions.
• Fauzi Ichsan – Independent Commissioner: Experienced in
government and economic fields.

Ref: https://www.akr.co.id/board-of-commissioners-directors

2.1.7 To enable the Board of Commissioners Met Mr. Fauzi Ichsan, as an Independent Commissioner,
to provide independent advice and consistently attends committee meetings, commissioners'
supervision to the Board of Directors, meetings, and joint meetings. He actively provides objective
and for roles with potential conflicts of opinions and input, which are documented in the internal
interest, the Board of Commissioners meeting minutes.
consists of a sufficient number of
Independent Commissioners, with Ref: https://www.akr.co.id/board-of-commissioners-directors
limited terms of office. The duration
of the Board members' tenure and
their independence from a corporate
perspective are disclosed.
2.1.8 To facilitate the effective functions of Met In the selection and nomination of commissioners, the
the Board of Directors and the Board process is entirely carried out internally:
of Commissioners, and to enhance • The Nomination and Remuneration Committee provides
investor and stakeholder confidence, recommendations to the Board of Commissioners
the Nomination and Remuneration regarding the composition of the Board of Commissioners
Committee ensures that there is a formal, and proposes qualified candidates to be presented at the
stringent, and transparent process General Meeting of Shareholders (GMS).
for the appointment and election of • The Board of Commissioners submits the names of
members of the Board of Directors and qualified candidates to the GMS for approval.
the Board of Commissioners. • Members of the Board of Commissioners are appointed
by the GMS for a term starting from the date of their
appointment until the closure of the fifth subsequent
Annual General Meeting of Shareholders, without prejudice
to the GMS's right to dismiss them at any time.

Ref: https://www.akr.co.id/storage/files/
fpjwtglDzSgLAyrC3hiurL2PFmeuaeAhrIOQvemr.pdf

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2.2 Remuneration of the Board of Directors and the Board of Commissioners

Recommendations
2.2.1 The remuneration policy for members Met The procedure for determining remuneration for the Board of
of the Board of Directors consists of a Commissioners and the Board of Directors begins with the
remuneration structure oriented towards submission of proposals and remuneration amounts by the
sustainable company development and Board of Commissioners. This proposal takes into account
encouraging the achievement of long- the review conducted by the Nomination and Remuneration
term goals. The remuneration for the Committee, which, among other factors, considers
Board of Directors must be proposed, performance achievements. The proposal is then presented
possibly through the Nomination and at the GMS, where it is ultimately determined and approved by
Remuneration Committee, by the Board the Shareholders.
of Commissioners for a decision by the
General Meeting of Shareholders (GMS).
The proposed remuneration amount
submitted to the GMS is determined
by considering the role of each Board
member, economic conditions, and the
Company's performance.
2.2.2 The remuneration policy for members Met The procedure for determining remuneration for the Board of
of the Board of Commissioners Commissioners and the Board of Directors begins with the
consists of a remuneration structure submission of proposals and remuneration amounts by the
oriented towards sustainable company Board of Commissioners. This proposal takes into account
development and encouraging the the review conducted by the Nomination and Remuneration
achievement of long-term goals. The Committee, which, among other factors, considers
remuneration amount proposed by the performance achievements. The proposal is then presented
Board of Commissioners to the General at the GMS, where it is ultimately determined and approved by
Meeting of Shareholders is determined the Shareholders.
by considering the role of each Board
member, economic conditions, and the
company's performance. Additionally,
consideration must also be given to their
position as President Commissioner, as
well as their role as chair or member of
various committees.
2.2.3 To ensure that the remuneration package Met The procedure for determining remuneration for the Board of
is determined based on the performance, Commissioners and the Board of Directors begins with the
qualifications, and competencies of submission of proposals and remuneration amounts by the
directors and commissioners while Board of Commissioners. This proposal takes into account
considering the company's operational the review conducted by the Nomination and Remuneration
performance, individual performance, Committee, which, among other factors, considers
and market conditions, the Nomination performance achievements. The proposal is then presented
and Remuneration Committee ensures at the GMS, where it is ultimately determined and approved by
the existence of a fair and transparent the Shareholders.
procedure for establishing the
remuneration policy for members of
the Board of Directors and the Board of
Commissioners.
3. Working Relationship Between the Board of Directors and the Board of Commissioners
3.1 Nature of the Working Relationship
Recommendations
3.1.1 There are open discussions between Met The Board of Directors and the Board of Commissioners
the Board of Directors and the Board regularly hold Joint Meetings with the Audit Committee before
of Commissioners. However, it remains the release of financial reports.
crucial to maintain the confidentiality of
information.

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3.1.2 In accordance with their respective Met Each member of the Board of Directors and the Board of
duties and roles, the Board of Commissioners is required to adhere to the Company's core
Directors collaborates with the Board values, which include:
of Commissioners in formulating • Integrity
the company's mission, vision, and • Commitment
strategy and regularly discusses its • Teamwork
implementation. • Honest and open communication
• Trust and respect
• Value creation
• Continuous improvement

Ref: https://www.akr.co.id/storage/files/
fpjwtglDzSgLAyrC3hiurL2PFmeuaeAhrIOQvemr.pdf

3.1.3 The Company Secretary plays a crucial Met The Company Secretary plays a vital role in providing
role in supporting the effectiveness information on developments in the business environment
of the working relationship between and applicable regulations and communicating them to the
the Board of Directors and the Board Company's governing bodies. Additionally, the Company
of Commissioners, promoting the Secretary oversees the implementation of any changes
implementation of Good Corporate and ensures they are effectively communicated to external
Governance, and facilitating effective stakeholders. The company, through the Company Secretary
communication with shareholders and department, conducts a self-assessment of corporate
other stakeholders. governance implementation based on the ASEAN Corporate
Governance Scorecard and the 2021 Indonesian General
Corporate Governance Guidelines (PUGKI).
3.2 Access to Information for the Board of Commissioners
Recommendations
3.2.1 The Board of Directors is responsible Met The Board of Directors provides the necessary information
for ensuring that the Board of to the Commissioners. Before joint meetings are held, the
Commissioners has access to accurate, Company Secretary is required to distribute meeting materials
relevant, and timely information. The to the Board of Directors and the Board of Commissioners.
Board of Commissioners, in turn, ensures
that it obtains adequate information. The
Board of Directors provides information
to the Board of Commissioners regularly,
without delay, and comprehensively on
all matters relevant to the company. The
Board of Commissioners may request
additional information from the Board of
Directors at any time.
3.3 Responsibility of the Board of Directors and Board of Commissioners for the Impact of Ownership Structure on the
Company
Recommendations
3.3.1 The Board of Directors and the Board of Met In the event that a member of the Board of Directors has
Commissioners take their responsibilities a conflict of interest with the company, the authority to
into account within the context of the represent the company shall be as follows:
company's shareholding structure and • Another member of the Board of Directors who does not
the relationships among shareholders, have a conflict of interest with the company;
which may affect the management and • The Board of Commissioners, if all members of the Board
operations of the Company. of Directors have a conflict of interest with the company; or
• Another party appointed by the General Meeting of
Shareholders (GMS), if all members of the Board of
Directors or the Board of Commissioners have a conflict of
interest with the company.

The structure of the Board of Directors and the Board of

Commissioners of AKR is composed of professionals who
are experts in their respective fields, ensuring objectivity in
decision-making within their departments.

Ref: https://www.akr.co.id/storage/files/
fpjwtglDzSgLAyrC3hiurL2PFmeuaeAhrIOQvemr.pdf

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4. Ethical and Responsible Conduct

4.1.1 Pernyataan ini dituangkan dalam :
Recommendations
4.1.1 This statement is outlined in the Code Met Each member of the Board of Directors is required to adhere
of Conduct and Business Ethics, which to the company's core values, which include:;
must clearly express the Company's • Integrity;
expectations that each member of • Commitment;
the Board of Directors, the Board of • Teamwork;
Commissioners, and employees will: • Honest and open communication;
• Act in the best interests of the • Trust and respect;
company; • Value creation;
• Act honestly and with a high standard • Continuous improvement.
of integrity;
• Remain independent and act Each member of the Board of Directors is also required
based on complete information, in to exert their full capabilities to achieve the Company's
good faith, with due diligence and vision and mission. Members of the Board of Directors must
prudence; perform their duties in good faith, with full responsibility and
• Comply with the laws and regulations prudence, while always complying with applicable laws and
applicable to the company and its regulations, including those related to the implementation of
operations; Good Corporate Governance and the Company's Articles of
• Avoid actions that violate laws and Association.
regulations or unethical conduct
based on corporate ethical
guidelines;
• Refrain from engaging in or
participating in any activities that
create a conflict of interest with
the company's best interests or
negatively impact the company's
reputation;
• Not take advantage of corporate
property, proprietary information,
other company-owned assets, or
customer assets for personal gain
or in a way that causes harm to the
company and its customers;
• Not exploit their position or
opportunities arising from their
position for personal benefit;
• Avoid soliciting or accepting
payments, gratuities, or other benefits
from third parties for themselves or
others that create conflicts of interest
or unlawfully benefit third parties in
violation of laws and regulations;

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4.1.2 The Board of Directors establishes Met All management, including the Company's governing bodies,
policies and practices on anti-money is required to sign an Integrity Pact, which states that if they
laundering and counter-terrorism are proven to have violated the Integrity Pact, they agree to
financing, anti-bribery, anti-corruption, resign without receiving any compensation and accept any
anti-fraud, and political involvement form of sanction, including but not limited to administrative
by referring to national or international sanctions up to claims for damages, whether civil and/or
standards on anti-money laundering, criminal, in accordance with applicable laws and regulations.
anti-bribery, anti-corruption, anti-fraud,
or other related standards.
4.2 Values and Organizational Culture
Recommendations
4.2.1 The Company articulates, cultivates, Met The Company's values, which are periodically communicated
and expresses its corporate culture and and embedded into the work culture, include:
values. • Entrepreneurial Spirit
• Collaboration
• Appreciating High Performance
• Agility
• Empowering the Team
• No Compromise
4.3 Communication and Enforcement of the Code of Ethics, Values, and Culture
Recommendations
4.3.1 The Company's Code of Conduct Met The Company's Code of Ethics is translated into various
and corporate ethics are effectively policies and regulations. The values are communicated
communicated to the Board of to ensure they remain an integral part of the work culture.
Directors, the Board of Commissioners, Additionally, employees are periodically required to sign an
and all employees, integrated into the integrity pact as a commitment to complying with the Code of
Company's strategy and operations, Ethics. Partners working with AKR are also required to sign an
including the risk management system integrity pact as a commitment to adhering to the code.
and remuneration structure, and
enforced. Ref: https://www.akr.co.id/storage/files/
JCuvXf1kYhlLxDFUmvfwo5rtmS6QaTR57yQLOfyt.pdf

5. Risk Management, Internal Control, and Compliance

5.1 Internal Control and Compliance
Recommendations
5.1.1 The Board of Directors periodically Met One of the roles of the Board of Directors in risk management
reviews the adequacy of the design is to ensure its effective implementation as an integral part of
and operational effectiveness of the the operations. Internal Audit periodically provides reports
Company's governance system, risk on various business risk aspects and their mitigation to the
management, internal control, and Board of Directors. The Board of Directors reviews these
compliance. The implementation and reports and provides recommendations for improvements.
results of this review are reported to the The implementation of risk management and internal audit is
shareholders through the Company's reported to shareholders through the Annual Report.
Annual Report.
5.2 Risk Management
Recommendations
5.2.1 Strategy and risk are integrated and Met The Board of Directors is responsible for ensuring the design
transparently disclosed, forming part of an appropriate risk management system.
of the duties and responsibilities of
the Board of Directors and the Board Through established committees, the Directors oversee the
of Commissioners, as well as being implementation of an effective internal control system, an
discussed in their meetings. integrated accounting and financial reporting system with
accountable transparency, and ensure an integrated risk
management process and system.

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5.2.2 The Risk Management Monitoring Met The Company's risk management is monitored by internal
Committee assists the Board of audit, which reports directly to the Board of Directors and
Commissioners in carrying out its duties Board of Commissioners through the Audit Committee.
by establishing a transparent, focused, The Company views internal control as a series of actions
and independent mechanism for encompassing the entire business process. The components
overseeing corporate risk management. include:
• Control environment
• Risk assessment
• Control activities
• Information and communication
• Monitoring
5.3 Integration of Governance, Risk Management, and Compliance
Recommendations
5.3.1 The Board of Directors establishes Met The Company's risk management is independently monitored
an integrated governance, risk by internal audit, which reports directly to the Board of
management, and compliance (GRC) Directors and the Board of Commissioners through the Audit
system, addressing various uncertainties Committee. The Company views internal control as a series of
in a coordinated manner and with high actions encompassing the entire business process.
integrity to ensure that the Company can
achieve its objectives.
5.3.2 The Board of Directors ensures that the Met Several compliance-related departments within the
department responsible for compliance Company operate independently. The President Director and
functions does not concurrently perform President Commissioner hold no concurrent roles in these
roles that could create a conflict of departments:
interest. • Company Secretary
• Legal
5.4.1 The Board of Commissioners, through Met The Board of Directors and the Board of Commissioners of
the Audit Committee, monitors and the Company periodically review the effectiveness of the
ensures that the internal audit function implementation of the internal control system within the
assists the Company in achieving its Company. This review covers the mechanisms, structure, and
objectives by applying an objective adequacy of the internal control infrastructure.
and disciplined approach to evaluating
and improving the effectiveness of
risk management, internal control, and
corporate governance.
6. Disclosure and Transparency
6.1 Appointment Policy
Recommendations
6.1.1 The Company has disclosure and Met The Company, through the Investor Relations Division and
transparency policies and procedures the Company Secretary, actively provides information to
that ensure the disclosure of material stakeholders and ensures easy access to information for
information while safeguarding sensitive them.
and confidential corporate information.
The primary platform for disseminating information is the
Company's website (www.akr.co.id). Information on the AKR
website is available in both Indonesian and English. In addition
to the website, the Company also provides communication
channels via email at [email protected] or by phone at +62 21
531 1110. The Company also consistently reports material
information and facts through Electronic Reporting to the OJK
and the Indonesia Stock Exchange (www.idx.co.id).

The prohibition on disclosing sensitive information that

benefits external parties is regulated in the Company's Code
of Ethics.

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6.1.2 Shareholders' rights to regularly Met AKR is committed to upholding the principle of transparency,
and timely obtain relevant material including the disclosure of information both internally and
information about the Company must be externally. The management and openness of information
fulfilled. about the Company are crucial in building the Company's
image in the public eye, particularly among stakeholders.
Therefore, the Company strives to provide accurate and
useful information while adhering to relevant regulations to
meet public needs for information about the Company's
activities.
6.2.1 The Company discloses the systems and Met Management is responsible for the preparation and fair
procedures to ensure that unaudited or presentation of the consolidated financial statements in
unreviewed interim financial statements accordance with Indonesian Financial Accounting Standards
are materially accurate, complete, and for the internal controls deemed necessary to enable the
and provide investors with the right preparation of consolidated financial statements that are free
information to make informed investment from material misstatement, whether due to fraud or error.
decisions.
Ref: https://www.akr.co.id/storage/reports/
GHzTFPTsXYVdtvdD5kGVZZS3lQaaD2mDsWO3Ahbf.pdf

6.2.2 Management is responsible for the Met The Company submits to the Stock Exchange and OJK the
preparation and fair presentation of Audit Committee's report on the work carried out by the
consolidated financial statements in external auditor and its recommendations.
accordance with Indonesian Financial
Accounting Standards and for internal
controls deemed necessary to enable
the preparation of consolidated financial
statements that are free from material
misstatement, whether due to fraud or
error.
6.2.3 The Sustainability Report must be Met AKR prepares the Sustainability Report based on POJK 51 and
prepared and disclosed accurately and GRI 2021 standards as references.
structured in accordance with national or
international frameworks.
6.2.4 The Company has published a Met AKR has been publishing Sustainability Reports since 2013.
Sustainability Report as an integral part Over the past three years (2021–2023), AKR has released the
of the Annual Report. The Company's Sustainability Report alongside the Annual Report as part of
Sustainability Report outlines its the GMS materials for shareholders. AKR presents data from
sustainability performance, covering the last three years in its Sustainability Reports.
economic, social, environmental, and
governance aspects, presented in a
three-year comparison. This approach
is expected to help shareholders and
stakeholders understand strategic
objectives and progress in creating
sustainable value.

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6.3 Distributing Information

Recommendations
6.3.1 Information dissemination channels must Met The primary platform for disseminating information is the
provide equal, timely, and relatively cost- Company's website (www.akr.co.id). Information on the AKR
effective access to relevant information website is available in both Indonesian and English. In addition
for users. to the website, the Company also provides communication
channels via email at [email protected] or by phone at +62 21 531
1110. The Company consistently reports material information
and facts through Electronic Reporting to the OJK and the
Indonesia Stock Exchange (www.idx.co.id)
6.3.2 The Company ensures that the annual AKR conducts periodic governance assessments using the
statement on the implementation of ASEAN Corporate Governance Scorecard and SEOJK 32. The
the Indonesian General Corporate assessment based on PUGKI was first presented in the 2023
Governance Guidelines, including Annual Report.
explanations of the implementation of
each Recommendation and Guideline, is
available on the website for a minimum
period of five years.
6.3.3 For companies listed on the capital N.A
market in jurisdictions other than
their home, the applicable corporate
governance laws and regulations must
be clearly disclosed. In the case of
cross-listing, the criteria and procedures
for cross-listing, as well as the criteria
and procedures for recognizing listing
requirements for the primary listing, must
be transparent and documented.
7. Protection of Shareholders' Rights
Recommendations
7.1.1 The Company has a communication Met AKR, through the Investor Relations Division, strives maintain
policy that facilitates and encourages two-way communication between external stakeholders and
shareholder and investor participation. management. This is achieved through channels, including:
• Participation in public exposés,
• Attending conferences, non-deal roadshows, and
meetings with brokers,
• Conducting quarterly performance briefings,
• Arranging face-to-face meetings with existing and
prospective shareholders, and
• Visits to operational sites.
7.1.2 A Company that serves as a parent entity Met The governance policy of PT AKR Corporindo Tbk. covers AKR
ensures that its corporate governance as the parent company and its subsidiaries.
policies apply to its subsidiaries and
entities under common control where the
Company's investment is significant.
7.1.3 The Company has rules and procedures Met AKR complies with applicable regulations, including those
governing acquisitions, takeovers, related to acquisitions, takeovers, and extraordinary
and extraordinary transactions such transactions.
as mergers and the sale of substantial
corporate assets to ensure that
transactions occur transparently, under
fair conditions, and protect the rights
of all shareholders according to their
respective classes.

262 Annual Report 2024

 No Description Status Implementation

7.2.1 Fair Treatment of Shareholders

Recommendations
7.2.1 The Company has rules and procedures Met The Company's code of ethics includes guidelines on its
to ensure that: relationship with shareholders, among which is ensuring fair
• All shareholders of the same series treatment of shareholders and investors based on the number
within a single class of shares are and type of shares they own, allowing them to exercise
treated equally. their rights in accordance with the Company's articles of
• The disclosure of these rules association and applicable laws and regulations.
and procedures, as well as the
disclosure of the capital structure Ref: https://www.akr.co.id/storage/files/
JCuvXf1kYhlLxDFUmvfwo5rtmS6QaTR57yQLOfyt.pdf
and arrangements that allow certain
shareholders to gain influence or
control disproportionate to their
share ownership.
7.2.2 The Company has rules and procedures Met Affiliate transactions are carried out upon approval at the GMS
that ensure related-party transactions and must be reported within two working days after being
are approved and executed in a manner formalized in a notarial deed.
that assures conflicts of interest are
properly managed, while protecting
the interests of the Company and its
shareholders.
7.2.3 The Company has and discloses a policy Met KR has a Blackout Period policy that strictly prohibits insider
to prevent insider trading. The Company trading of the Company's shares for 10 days before the
has clear rules regarding any trading in release of financial statements until the financial statements
the Company's shares conducted by are published to the public.
directors, commissioners, and insiders
to ensure that no one may gain direct or
indirect benefits from information that is
not yet available in the market.
7.3 General Meeting of Shareholders
Recommendations
7.3.1 The Company issues a notice for the Met AKR follows POJK 15/2020 in the organization of the GMS. For
General Meeting of Shareholders the GMS notice, AKR refers to a minimum of 21 days prior to
(GMS) with the agenda and materials the meeting
as complete and early as possible (no
later than 28 days before the GMS) to
provide shareholders with sufficient time
and materials to thoroughly review the
meeting agenda. The meeting invitation
and all GMS information are disclosed
through electronic means, such as the
Company's website.

Annual Report 2024 263

 Corporate Governance

No Description Status Implementation

7.3.2 The Company has and discloses rules and Met In the Rules of Procedure distributed before the GMS, the
procedures that facilitate shareholders in voting procedure is outlined as follows:
participating and voting effectively at the • A vote will be conducted for each agenda item to make
GMS. decisions.
• Voting will take place after the discussion of each agenda
item and the presentation of the proposed decision, and
after the Chairman of the Meeting invites shareholders or
their proxies to participate in the voting process, which will
be guided by the Notary and the Securities Administration
Bureau as an independent party.
• The voting process will be conducted electronically
through the eASY application on KSEI's E-Meeting Hall
menu, under the Live Broadcasting sub-menu.
• During the electronic voting process, the Company sets a
time limit for voting on each agenda item at the Meeting,
with a maximum time of 3 (three) minutes per agenda item.
7.3.3 Shareholders participate in the Met The appointment of members of the Board of Directors and
appointment of members of the the Board of Commissioners of AKR must be approved by the
Board of Directors and the Board of GMS.
Commissioners.
7.3.4 The Company ensures transparency and Met The external auditor appointed at the GMS is selected
accountability of the external auditor at based on the audit committee's assessment, including
the GMS. considerations of the auditor's independence, transparency,
and accountability.
7.3.5 The results of the voting and a summary Met The results of the GMS from the notary are released one day
of the GMS minutes are fully announced after the meeting, followed by a summary of the GMS minutes
to the public on the next working day. on the next day.
8. Other Stakeholders
8.1 Engagement and Stakeholders
Recommendations
8.3.1 The Board of Directors ensures and Met Through the ESG Committee and ESG Task Force, AKR defines
discloses that the Company's operations the meaning of sustainability that reflects the Company's
reflect the application of high ethical identity:
standards, social and environmental "As a strategic holding company, PT AKR Corporindo Tbk.
responsibility across the organization, sets the goal to grow and develop sustainably. Our business
and ensures that appropriate policies portfolio, ranging from logistics and distribution, industrial
and procedures are implemented to estates, to the development and management of special
respect and comply with stakeholders' economic zones, is managed to reach millions of people
rights. and stakeholders. PT AKR Corporindo Tbk. must contribute
positively to the economy, the environment, people, and
communities in conducting its business. The Company is
committed to balancing ambition with wisdom, business
success with environmental awareness, and social progress.
For AKR, this is the meaning of sustainability – Process with
Purpose."

This commitment is supported by four main pillars that serve

as guidelines for AKR in implementing sustainability strategies
across all business lines of the Company, namely:
Our Business Portfolio, Our People, Our Communities, Our
Conduct

264 Annual Report 2024

 No Description Status Implementation

8.3.2 The Board of Directors encourages Met Human Capital is a crucial aspect of sustainable growth.
employees to work in the long-term AKR's business, which operates in essential and critical
interests of the company and prioritize industries, relies on the ability of its employees to make
sustainability. decisions and implement the developed strategies. The goal
of human resource development is to acquire competent
individuals who align with the corporate values. Management
encourages the the workforce to be agile and adaptive in the
face of change, motivating them to collaborate effectively.
The Company provides training and sharing sessions to
ensure that employees understand the adaptive points and
can collaborate in their areas of work.

AKR enforces a zero-tolerance policy to minimize risks. One

of the efforts includes enhancing necessary training and
raising awareness about risk management in the workplace.
The Company also focuses on empowerment to meet internal
leadership needs, seeking potential young leaders, both
internally and externally.

Transparency in Poor
Governance Practices
In 2024, AKR experienced no poor governance practices, as shown in the following table:

No Description Practice

1. Insider trading activities involving directors/commissioners, management, and employees. None

Non-compliance in disclosing tax obligations, including guilty verdicts from the highest tax court
2. None
related to any tax issues.
Misrepresentation of the Annual Report and Financial Statements in accordance with applicable
3. None
regulations and SAK (Indonesian Financial Accounting Standards).
Non-compliance with laws, rules, and regulations related to significant or material related-party
4. None
transactions.
5. Lack of disclosure in Financial Statements. None
Any legal violations related to labor, employment, consumer, insolvency, commercial,
6. None
competition or environmental matters.
Sanctions from regulators for failing to make announcements within the required timeframe for
7. None
material events.
Evidence that the company failed to comply with recording regulations during the past year,
8. None
aside from disclosure regulations.

Annual Report 2024 265

 Financial
Statement
PT AKR Corporindo Tbk
dan ent it as anaknya/ and it s subsidiaries

Laporan keuangan konsolidasian tanggal 31 Desember 2024

dan untuk tahun yang berakhir pada tanggal tersebut
beserta laporan auditor independen/
Consolidated financial statements as of December 31, 2024
and for the year then ended with independent auditor’s report

Annual Report 2024 269

 The original consolidated financial statements included herein
are in Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN KEUANGAN KONSOLIDASIAN CONSOLIDATED FINANCIAL STATEMENTS
TANGGAL 31 DESEMBER 2024 AS OF DECEMBER 31, 2024 AND
DAN UNTUK TAHUN YANG BERAKHIR FOR THE YEAR THEN ENDED
PADA TANGGAL TERSEBUT WITH INDEPENDENT AUDITOR’S REPORT
BESERTA LAPORAN AUDITOR INDEPENDEN

Daftar Isi Table of Contents

Halaman/
Page

Surat Pernyataan Dewan Direksi Board of Directors’ Statement

Laporan Auditor Independen Independent Auditor’s Report

Laporan Posisi Keuangan Konsolidasian........................ 1-3 ..............Consolidated Statement of Financial Position

Laporan Laba Rugi dan Consolidated Statement of Profit or Loss

Penghasilan Komprehensif Lain Konsolidasian ......... 4-5 ........................ and Other Comprehensive Income

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

Laporan Arus Kas Konsolidasian ................................... 8-9 ...................... Consolidated Statement of Cash Flows

Catatan atas Laporan Keuangan Konsolidasian ............. 10-146 ......... Notes to the Consolidated Financial Statements

*********************

270 Annual Report 2024

Annual Report 2024 271
 The original report included herein is in the Indonesian
language.

Laporan Audit or Independen Independent Audit or’s Report

Laporan No. 00233/ 2.1032/ AU.1/ 05/ 0685- Report No. 00233/ 2.1032/ AU.1/ 05/ 0685-
5/ 1/ III/ 2025 5/ 1/ III/ 2025

Pemegang Saham, Dewan Komisaris, dan Direksi The Shareholders and t he Boards of
PT AKR Corporindo Tbk Commissioners and Direct ors
PT AKR Corporindo Tbk

Opini Opinion

Kami telah mengaudit laporan keuangan We have audited the accompanying consolidated
konsolidasian PT AKR Corporindo Tbk financial statements of PT AKR Corporindo Tbk
(“ Perusahaan” ) dan entitas anaknya (secara (the “ Company” ) and its subsidiaries (collectively
kolektif disebut sebagai “ Kelompok Usaha” ) referred to as the “ Group” ), which comprise the
terlampir, yang terdiri dari laporan posisi consolidated statement of financial position as of
keuangan konsolidasian tanggal 31 Desember December 31, 2024, and the consolidated
2024, serta laporan laba rugi dan penghasilan statement of profit or loss and other
komprehensif lain konsolidasian, laporan comprehensive income, consolidated statement of
perubahan ekuitas konsolidasian, dan laporan changes in equity, and consolidated statement of
arus kas konsolidasian untuk tahun yang berakhir cash flows for the year then ended, and notes to
pada tanggal tersebut, serta catatan atas laporan the consolidated financial statements, including
keuangan konsolidasian, termasuk informasi material accounting policy information.
kebijakan akuntansi material.

Menurut opini kami, laporan keuangan In our opinion, the accompanying consolidated
konsolidasian terlampir menyajikan secara financial statements present fairly, in all material
wajar, dalam semua hal yang material, posisi respect s, the consolidated financial position of the
keuangan konsolidasian Kelompok Usaha tanggal Group as of December 31, 2024, and its
31 Desember 2024, serta kinerja keuangan dan consolidated financial performance and cash flows
arus kas konsolidasiannya untuk tahun yang for the year then ended, in accordance with
berakhir pada tanggal tersebut, sesuai dengan Indonesian Financial Accounting Standards.
Standar Akuntansi Keuangan di Indonesia.

272 Annual Report 2024

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language.

Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)

Laporan No. 00233/ 2.1032/ AU.1/ 05/ 0685- Report No. 00233/ 2.1032/ AU.1/ 05/ 0685-
5/ 1/ III/ 2025 (lanjutan) 5/ 1/ III/ 2025 (continued)

Basis opini Basis for opinion

Kami melaksanakan audit kami berdasarkan We conducted our audit in accordance with
Standar Audit yang ditetapkan oleh Institut Standards on Auditing established by the
Akuntan Publik Indonesia (“ IAPI” ). Tanggung Indonesian Institute of Certified Public
jawab kami menurut standar tersebut Accountants (“ IICPA” ). Our responsibilities under
diuraikan lebih lanjut dalam paragraf Tanggung those standards are further described in the
Jawab Auditor terhadap Audit atas Laporan Auditor’s Responsibilities for the Audit of the
Keuangan Konsolidasian pada laporan kami. Consolidated Financial Statements paragraph of
Kami independen terhadap Kelompok Usaha our report. We are independent of the Group in
berdasarkan ketentuan etika yang relevan dalam accordance with the ethical requirements relevant
audit kami atas laporan keuangan konsolidasian di to our audit of the consolidated financial
Indonesia, dan kami telah memenuhi tanggung statements in Indonesia, and we have fulfilled our
jawab etika lainnya berdasarkan ketentuan other ethical responsibilities in accordance with
tersebut. Kami yakin bahwa bukti audit yang telah such requirements. We believe that the audit
kami peroleh adalah cukup dan tepat untuk evidence we have obtained is sufficient and
menyediakan suatu basis bagi opini kami. appropriate to provide a basis for our opinion.

Hal audit ut ama Key audit mat t ers

Hal audit utama adalah hal-hal yang, menurut Key audit matters are those matters that , in our
pertimbangan profesional kami, merupakan hal professional judgment, were of most significance in
yang paling signifikan dalam audit kami atas our audit of the consolidated financial statements
laporan keuangan konsolidasian periode kini. Hal of the current period. Such key audit matters were
audit utama tersebut disampaikan dalam konteks addressed in the context of our audit of the
audit kami atas laporan keuangan konsolidasian consolidated financial statements taken as a whole,
secara keseluruhan, dan dalam merumuskan opini and in forming our opinion t hereon, and we do not
kami atas laporan keuangan konsolidasian terkait, provide a separate opinion on such key audit
dan kami tidak menyatakan suatu opini terpisah matters. For the key audit matter below, our
atas hal audit utama tersebut. Untuk hal audit description of how our audit addressed such key
utama di bawah ini, penjelasan kami tentang audit matter is provided in such context.
bagaimana audit kami merespons hal tersebut
disampaikan dalam konteks tersebut.

ii

Annual Report 2024 273

 The original report included herein is in the Indonesian
language.

Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)

Laporan No. 00233/ 2.1032/ AU.1/ 05/ 0685- Report No. 00233/ 2.1032/ AU.1/ 05/ 0685-
5/ 1/ III/ 2025 (lanjutan) 5/ 1/ III/ 2025 (continued)

Hal audit ut ama (lanjut an) Key audit mat t ers (cont inued)

Kami telah memenuhi tanggung jawab yang We have fulfilled the responsibilities described in
diuraikan dalam paragraf Tanggung Jawab the Auditor’s Responsibilities for the Audit of the
Auditor terhadap Audit atas Laporan Keuangan Consolidated Financial Statements paragraph of
Konsolidasian pada laporan kami, termasuk our report, including in relation to the key audit
sehubungan dengan hal audit utama yang matter communicated below. Accordingly, our
dikomunikasikan di bawah ini. Oleh karena itu, audit included the performance of procedures
audit kami mencakup pelaksanaan prosedur yang designed to respond to our assessment of the risks
didesain untuk merespons penilaian kami atas of material misstatement of the accompanying
risiko kesalahan penyajian material dalam laporan consolidated financial statements. The results of
keuangan konsolidasian terlampir. Hasil prosedur our audit procedures, including the procedures
audit kami, termasuk prosedur yang dilakukan performed to address the key audit matter below,
untuk merespons hal audit utama di bawah ini, provide the basis for our opinion on the
menyediakan basis bagi opini kami atas laporan accompanying consolidated financial statements.
keuangan konsolidasian terlampir.

Kecukupan penyisihan atas kerugian kredit Adequacy in allowance for expected credit loss
ekpektasian atas nilai piutang usaha on trade receivables

Penjelasan atas hal audit utama: Description of the key audit matter:

Pada tanggal 31 Desember 2024, saldo piutang As of December 31, 2024, the Company’s trade
usaha Perusahaan sebesar Rp5.339.114 juta, receivables amounted to Rp5,339,114 million,
mencerminkan 16,1%dari total aset konsolidasian which represents 16.1% of the Group’s
Kelompok Usaha. Piutang usaha diakui sebagai consolidated total assets. The trade receivables are
aset keuangan pada biaya perolehan diamortisasi recognized as financial assets at amortized cost
dikurangi akumulasi penurunan nilai. Perusahaan less accumulated impairment. The Company
telah mengakui penyisihan kerugian kredit recognized allowance for expected credit losses
ekspektasian (KKE) sebesar Rp97.828 juta pada (ECL) amounting to Rp97,828 million as of
tanggal 31 Desember 2024. Penyisihan kerugian December 31, 2024. The allowance for ECL is
kredit ekspektasian, terutama mencerminkan mainly the results of individual impairment
penilaian penurunan nilai secara individu untuk assessments of various customers at the reporting
sejumlah pelanggan pada tanggal pelaporan. Kami date. We considered the allowance for ECL as a key
mempertimbangkan penyisihan KKE sebagai hal audit matter due to the high degree of judgments
audit utama karena tingkat pertimbangan yang applied by management. In general, in assessing
tinggi yang diterapkan oleh manajemen. Secara the impairment on individual basis of trade
umum, dalam menentukan penurunan nilai secara receivables, management exercised significant
individu atas piutang usaha, manajemen judgment s to evaluate the collectabilit y of
menggunakan pertimbangan untuk mengevaluasi individual customers after taking into account their
kolektibilitas dari pelanggan secara individual creditworthiness and aging analysis. The
dengan mempertimbangkan kelayakan kredit assessment also involves the information about
pelanggan dan analisis umur jatuh tempo. past event s, current conditions and forecasts of
Pertimbangan ini juga melibatkan informasi future conditions, as well as the time value of
peristiwa masa lalu, keadaan masa kini, dan money.
perkiraan masa depan, serta nilai waktu uang.

iii
274 Annual Report 2024
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language.

Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)

Laporan No. 00233/ 2.1032/ AU.1/ 05/ 0685- Report No. 00233/ 2.1032/ AU.1/ 05/ 0685-
5/ 1/ III/ 2025 (lanjutan) 5/ 1/ III/ 2025 (continued)

Hal audit ut ama (lanjut an) Key audit mat t ers (cont inued)

Kecukupan penyisihan atas kerugian kredit Adequacy in allowance for expected credit loss
ekpektasian atas nilai piutang usaha (lanjutan) on trade receivables (continued)

Penjelasan atas hal audit utama: (lanjutan) Description of the key audit matter: (continued)

Pengungkapan terkait piutang usaha dan The disclosure of trade receivables and allowance
penyisihan atas KKE disajikan dalam Catatan 2 for ECL are presented in Notes 2 and 5a to the
dan 5a atas laporan keuangan konsolidasian accompanying consolidated financial statements.
terlampir.

Respons audit: Audit response:

Kami memeroleh pemahaman atas proses We obtained an understanding of the Company’s

perkiraan penyisihan KKE piutang usaha process in estimating the allowance for ECL on
Perusahaan. Kami menguji dengan menggunakan trade receivables. We tested on a sample basis the
basis sampel untuk umur jatuh tempo piutang aging of trade receivables at year end. We
usaha pada akhir tahun. Kami mengevaluasi evaluated the management’s assumptions used
asumsi yang digunakan oleh manajemen dan and judgment on their assessments of collectability
pertimbangan atas penilaian kolektibilitas dari from individual customers by comparing them to
setiap individu pelanggan dengan the historical collection trends of respective
membandingkan tren penerimaan historis individual customers. We considered the credits
dari setiap individu pelanggan. Kami granted to the customers and/ or their subsequent
mempertimbangkan fasilitas kredit yang settlements when performing analysis of
diberikan kepada pelanggan dan/ atau pelunasan receivables’ aging brackets. We also checked the
setelah tanggal pelaporan ketika melakukan mathematical accuracy of the time value of money
analisis terhadap golongan umur piutang. Kami calculation, and assessed the effective interest
juga memeriksa akurasi matematis dari rate used in discounting the forecast of
perhitungan nilai waktu uang, dan menilai tingkat future collections. In addition, we evaluated the
suku bunga efektif yang digunakan dalam reasonableness of the Company’s allowance for
mendiskontokan perkiraan penerimaan di masa ECL through independent recalculation.
depan. Selain it u, kami mengevaluasi kewajaran
pada penyisihan KKE Perusahaan melalui
perhitungan ulang secara independen.

Kami juga melakukan evaluasi atas kecukupan We also assessed the adequacy of the disclosures
pengungkapan terkait penyisihan KKE atas related to allowance for ECL on trade receivables in
piutang usaha pada catatan atas laporan the notes to the accompanying consolidated
keuangan konsolidasian terlampir. financial statements.

iv
Annual Report 2024 275
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language.

Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)

Laporan No. 00233/ 2.1032/ AU.1/ 05/ 0685- Report No. 00233/ 2.1032/ AU.1/ 05/ 0685-
5/ 1/ III/ 2025 (lanjutan) 5/ 1/ III/ 2025 (continued)

Informasi lain Ot her informat ion

Manajemen bertanggung jawab atas informasi Management is responsible for the other
lain. Informasi lain terdiri dari informasi yang information. Other information comprises the
tercantum dalam Laporan Tahunan 2024 information included in the 2024 Annual Report
(“ Laporan Tahunan” ) selain laporan keuangan (the “ Annual Report” ) other than the
konsolidasian terlampir dan laporan auditor accompanying consolidated financial statements
independen kami. Laporan Tahunan diharapkan and our independent auditor’s report thereon. The
akan tersedia bagi kami setelah tanggal laporan Annual Report is expected to be made available to
auditor independen ini. us after the date of this independent auditor’s
report.

Opini kami atas laporan keuangan konsolidasian Our opinion on the accompanying consolidated
terlampir tidak mencakup Laporan Tahunan, dan financial statements does not cover the Annual
oleh karena itu, kami tidak menyatakan bentuk Report, and accordingly, we do not express any
keyakinan apapun atas Laporan Tahunan form of assurance on the Annual Report .
tersebut.

Sehubungan dengan audit kami atas laporan In connection with our audit of the accompanying
keuangan konsolidasian terlampir, tanggung consolidated financial statements, our
jawab kami adalah untuk membaca responsibility is to read the Annual Report when it
Laporan Tahunan ketika tersedia dan, becomes available and, in doing so, consider
dalam melaksanakannya, mempertimbangkan whether the Annual Report is materially
apakah Laporan Tahunan mengandung inconsistent with the accompanying consolidated
ketidakkonsistensian material dengan laporan financial statements or our knowledge obtained in
keuangan konsolidasian terlampir atau the audit, or otherwise appears to be materially
pemahaman yang kami peroleh selama audit, atau misstated.
mengandung kesalahan penyajian material.

Ketika kami membaca Laporan Tahunan, jika kami When we read the Annual Report, if we conclude
menyimpulkan bahwa terdapat suatu kesalahan that there is a material misstatement therein, we
penyajian material di dalamnya, kami diharuskan are required to communicate the matter to those
untuk mengomunikasikan hal tersebut kepada charged with governance and take appropriate
pihak yang bertanggung jawab atas tata kelola actions based on the applicable laws and
dan melakukan tindakan yang tepat berdasarkan regulations.
peraturan perundang-undangan yang berlaku.

v
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language.

Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)

Laporan No. 00233/ 2.1032/ AU.1/ 05/ 0685- Report No. 00233/ 2.1032/ AU.1/ 05/ 0685-
5/ 1/ III/ 2025 (lanjutan) 5/ 1/ III/ 2025 (continued)

Tanggung jawab manajemen dan pihak yang Responsibilit ies of management and t hose
bert anggung jawab at as t at a kelola t erhadap charged wit h governance for t he consolidat ed
laporan keuangan konsolidasian financial st at ement s

Manajemen bertanggung jawab atas penyusunan Management is responsible for the preparation and
dan penyajian wajar laporan keuangan fair presentation of the consolidated financial
konsolidasian tersebut sesuai dengan Standar statements in accordance with Indonesian Financial
Akuntansi Keuangan di Indonesia, dan atas Accounting Standards, and for such internal
pengendalian internal yang dianggap perlu oleh control as management determines is necessary to
manajemen untuk memungkinkan penyusunan enable the preparation of consolidated financial
laporan keuangan konsolidasian yang bebas statements that are free from material
dari kesalahan penyajian material, baik yang misstatement, whether due to fraud or error.
disebabkan oleh kecurangan maupun kesalahan.

Dalam penyusunan laporan keuangan In preparing the consolidated financial statements,

konsolidasian, manajemen bertanggung jawab management is responsible for assessing the
untuk menilai kemampuan Kelompok Usaha Group’s abilit y to continue as a going concern,
dalam mempertahankan kelangsungan usahanya, disclosing, as applicable, matters related to going
mengungkapkan, sesuai dengan kondisinya, hal- concern, and using the going concern basis of
hal yang berkaitan dengan kelangsungan usaha, accounting, unless management either intends to
dan menggunakan basis akuntansi kelangsungan liquidate the Group or to cease it s operations, or
usaha, kecuali manajemen memiliki intensi untuk has no realistic alternative but to do so.
melikuidasi Kelompok Usaha atau menghentikan
operasi, atau tidak memiliki alternatif yang
realistis selain melaksanakannya.

Pihak yang bertanggung jawab atas tata kelola Those charged with governance are responsible for
bertanggung jawab untuk mengawasi proses overseeing the Group’s financial reporting process.
pelaporan keuangan Kelompok Usaha.

vi
Annual Report 2024 277
 The original report included herein is in the Indonesian
language.

Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)

Laporan No. 00233/ 2.1032/ AU.1/ 05/ 0685- Report No. 00233/ 2.1032/ AU.1/ 05/ 0685-
5/ 1/ III/ 2025 (lanjutan) 5/ 1/ III/ 2025 (continued)

Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian consolidat ed financial st at ement s

Tujuan kami adalah untuk memeroleh keyakinan Our objectives are to obtain reasonable assurance
memadai tentang apakah laporan keuangan about whether the consolidated financial
konsolidasian secara keseluruhan bebas dari statements taken as a whole are free from material
kesalahan penyajian material, baik yang misstatement, whether due to fraud or error, and
disebabkan oleh kecurangan maupun kesalahan, to issue an independent auditor’s report that
dan untuk menerbitkan laporan auditor includes our opinion. Reasonable assurance is
independen yang mencakup opini kami. Keyakinan a high level of assurance, but is not a guarantee
memadai merupakan suatu tingkat keyakinan that an audit conducted in accordance with
tinggi, namun bukan merupakan suatu jaminan Standards on Auditing established by the IICPA will
bahwa audit yang dilaksanakan berdasarkan always detect a material misstatement when it
Standar Audit yang ditetapkan oleh IAPI akan exists. Misstatements can arise from fraud or error
selalu mendeteksi kesalahan penyajian material and are considered material if, individually or in the
ketika hal tersebut ada. Kesalahan penyajian aggregate, they could reasonably be expected to
dapat disebabkan oleh kecurangan maupun influence the economic decisions of users taken
kesalahan dan dianggap material jika, baik secara on the basis of these consolidated financial
individual maupun agregat, dapat diekspektasikan statements.
secara wajar akan memengaruhi keputusan
ekonomi yang diambil oleh pengguna berdasarkan
laporan keuangan konsolidasian tersebut.

Sebagai bagian dari suatu audit berdasarkan As part of an audit in accordance with Standards on
Standar Audit yang ditetapkan oleh IAPI, kami Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan professional judgment and maintain professional
mempertahankan skeptisisme profesional selama skepticism throughout the audit . We also:
audit. Kami juga:

· Mengidentifikasi dan menilai risiko kesalahan · Identify and assess the risks of material
penyajian material dalam laporan keuangan misstatement of the consolidated financial
konsolidasian, baik yang disebabkan oleh statements, whether due to fraud or error,
kecurangan maupun kesalahan, mendesain design and perform audit procedures
dan melaksanakan prosedur audit yang responsive to such risks, and obtain audit
responsif terhadap risiko tersebut, serta evidence that is sufficient and appropriate to
memeroleh bukti audit yang cukup dan tepat provide a basis for our opinion. The risk of not
untuk menyediakan basis bagi opini kami. detecting a material misstatement resulting
Risiko tidak terdeteksinya suatu kesalahan from fraud is higher than for one resulting from
penyajian material yang disebabkan oleh error, as fraud may involve collusion, forgery,
kecurangan lebih tinggi dari yang disebabkan intentional omissions, misrepresentations, or
oleh kesalahan, karena kecurangan dapat override of internal control.
melibat kan kolusi, pemalsuan, penghilangan
secara sengaja, pernyataan salah, atau
pengabaian atas pengendalian internal.

vii
278 Annual Report 2024
 The original report included herein is in the Indonesian
language.

Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)

Laporan No. 00233/ 2.1032/ AU.1/ 05/ 0685- Report No. 00233/ 2.1032/ AU.1/ 05/ 0685-
5/ 1/ III/ 2025 (lanjutan) 5/ 1/ III/ 2025 (continued)

Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian (lanjut an) consolidat ed financial st at ement s (cont inued)

Sebagai bagian dari suatu audit berdasarkan As part of an audit in accordance with Standards on
Standar Audit yang ditetapkan oleh IAPI, kami Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan professional judgment and maintain professional
mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also:
audit. Kami juga: (lanjutan) (continued)

· Memeroleh suatu pemahaman tentang · Obtain an understanding of internal control

pengendalian internal yang relevan dengan relevant to the audit in order to design audit
audit untuk mendesain prosedur audit yang procedures that are appropriate in the
tepat sesuai dengan kondisinya, tetapi circumstances, but not for the purpose of
bukan untuk tujuan menyatakan opini expressing an opinion on the effectiveness of
atas keefektivitasan pengendalian internal the Group’s internal control.
Kelompok Usaha.

· Mengevaluasi ketepatan kebijakan akuntansi · Evaluate the appropriateness of accounting

yang digunakan serta kewajaran estimasi policies used and the reasonableness of
akuntansi dan pengungkapan terkait yang accounting estimates and related disclosures
dibuat oleh manajemen. made by management.

· Menyimpulkan ketepatan penggunaan basis · Conclude on the appropriateness of

akuntansi kelangsungan usaha oleh management's use of the going concern basis
manajemen dan, berdasarkan bukti audit yang of accounting and, based on the audit evidence
diperoleh, apakah terdapat suatu obtained, whether a material uncertaint y exists
ketidakpastian material yang terkait dengan related to event s or conditions that may cast
peristiwa atau kondisi yang dapat significant doubt on the Group's ability to
menyebabkan keraguan signifikan atas continue as a going concern. If we conclude
kemampuan Kelompok Usaha untuk that a material uncertaint y exists, we are
mempertahankan kelangsungan usahanya. required to draw attention in our independent
Ketika kami menyimpulkan bahwa terdapat auditor’s report to the related disclosures in
suatu ketidakpastian material, kami the consolidated financial statements or, if
diharuskan untuk menarik perhatian dalam such disclosures are inadequate, to modify our
laporan auditor independen kami ke opinion. Our conclusion is based on the audit
pengungkapan terkait dalam laporan evidence obtained up to the date of our
keuangan konsolidasian atau, jika independent auditor’s report. However, future
pengungkapan tersebut tidak memadai, events or conditions may cause the Group to
memodifikasi opini kami. Kesimpulan kami cease to continue as a going concern.
didasarkan pada bukti audit yang diperoleh
hingga tanggal laporan auditor independen
kami. Namun, peristiwa atau kondisi masa
depan dapat menyebabkan Kelompok Usaha
tidak dapat mempertahankan kelangsungan
usaha.

viii
Annual Report 2024 279
 The original report included herein is in the Indonesian
language.

Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)

Laporan No. 00233/ 2.1032/ AU.1/ 05/ 0685- Report No. 00233/ 2.1032/ AU.1/ 05/ 0685-
5/ 1/ III/ 2025 (lanjutan) 5/ 1/ III/ 2025 (continued)

Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian (lanjut an) consolidat ed financial st at ement s (cont inued)

Sebagai bagian dari suatu audit berdasarkan As part of an audit in accordance with Standards on
Standar Audit yang ditetapkan oleh IAPI, kami Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan professional judgment and maintain professional
mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also:
audit. Kami juga: (lanjutan) (continued)

· Mengevaluasi penyajian, struktur, dan isi · Evaluate the overall presentation, structure,
laporan keuangan konsolidasian secara and content of the consolidated financial
keseluruhan, termasuk pengungkapannya, statements, including the disclosures, and
dan apakah laporan keuangan konsolidasian whether the consolidated financial statements
mencerminkan transaksi dan peristiwa yang represent the underlying transactions and
mendasarinya dengan suatu cara yang events in a manner that achieves fair
mencapai penyajian wajar. presentation.

· Memeroleh bukti audit yang cukup dan tepat · Obtain sufficient appropriate audit evidence
terkait informasi keuangan entitas atau regarding the financial information of the
aktivitas bisnis dalam Kelompok Usaha untuk entities or business activities within the Group
menyatakan opini atas laporan keuangan to express an opinion on the consolidated
konsolidasian. Kami bertanggung jawab atas financial statements. We are responsible for
arahan, supervisi, dan pelaksanaan audit the direction, supervision, and performance of
grup. Kami tetap bertanggung jawab the group audit . We remain solely responsible
sepenuhnya atas opini audit kami. for our audit opinion.

Kami mengomunikasikan kepada pihak yang We communicate with those charged with
bertanggung jawab atas tata kelola mengenai, governance regarding, among other matters, the
antara lain, ruang lingkup dan saat yang planned scope and timing of the audit and
direncanakan atas audit serta temuan audit significant audit findings, including any significant
signifikan, termasuk setiap defisiensi signifikan deficiencies in internal cont rol that we identify
dalam pengendalian internal yang teridentifikasi during our audit.
oleh kami selama audit.

Kami juga memberikan suatu pernyataan kepada We also provide those charged with governance
pihak yang bertanggung jawab atas tata kelola with a statement that we have complied with
bahwa kami telah mematuhi ketentuan etika relevant ethical requirements regarding
yang relevan mengenai independensi, dan independence, and to communicate with them all
mengomunikasikan kepada pihak tersebut seluruh relationships and other matters that may
hubungan, serta hal-hal lain yang dianggap secara reasonably be thought to bear on our
wajar berpengaruh terhadap independensi kami, independence, and where applicable, related
dan, jika relevan, pengamanan terkait. safeguards.

ix
280 Annual Report 2024
 The original report included herein is in the Indonesian
language.

Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)

Laporan No. 00233/ 2.1032/ AU.1/ 05/ 0685- Report No. 00233/ 2.1032/ AU.1/ 05/ 0685-
5/ 1/ III/ 2025 (lanjutan) 5/ 1/ III/ 2025 (continued)

Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian (lanjut an) consolidat ed financial st at ement s (cont inued)

Dari hal-hal yang dikomunikasikan kepada pihak From the matters communicated with those
yang bertanggung jawab atas tata kelola, kami charged with governance, we determine those
menentukan hal-hal tersebut yang paling matters that were of most significance in the audit
signifikan dalam audit atas laporan keuangan of the consolidated financial statements of the
konsolidasian periode kini dan oleh karenanya current period and are therefore the key audit
menjadi hal audit utama. Kami menguraikan hal matters. We describe such key audit matters in our
audit utama tersebut dalam laporan auditor independent auditor’s report unless laws or
independen kami kecuali peraturan perundang- regulations preclude public disclosure about such
undangan melarang pengungkapan publik tentang key audit matters or when, in extremely rare
hal audit utama tersebut atau ketika, dalam circumstances, we determine that a key audit
kondisi yang sangat jarang terjadi, kami matter should not be communicated in our
menentukan bahwa suatu hal audit utama tidak independent auditor’s report because the adverse
boleh dikomunikasikan dalam laporan auditor consequences of doing so would reasonably be
independen kami karena konsekuensi yang expected to outweigh the public interest benefits of
merugikan dari mengomunikasikan hal tersebut such communication.
akan diekspektasikan secara wajar melebihi
manfaat kepentingan publik atas komunikasi
tersebut.

KAP Purwant ono, Sungkoro & Surja

Benyant o Suherman
Registrasi Akuntan Publik No. AP.0685/ Public Accountant Registration No. AP.0685

18 Maret 2025/ March 18, 2025

x
Annual Report 2024 281
 The original consolidated financial statements included herein
are in Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF
KONSOLIDASIAN FINANCIAL POSITION
Tanggal 31 Desember 2024 As of December 31, 2024
(Disajikan dalam Ribuan Rupiah, (Expressed in Thousands of Rupiah,
kecuali Dinyatakan Lain) unless Otherwise Stated)

Catatan/
2024 Notes 2023

Aset Assets

Aset Lancar Current Assets

Kas dan setara kas 5.365.991.608 3,4,18 6.535.625.681 Cash and cash equivalents
Piutang usaha 3,5a,18 Trade receivables
Pihak berelasi 943.477 32 132.880 Related parties
Pihak ketiga - neto 7.562.546.795 6.403.310.984 Third parties - net
Piutang lain-lain 3,5b Other receivables
Pihak berelasi 5.357.930 32 8.217.551 Related parties
Pihak ketiga 38.910.981 48.179.645 Third parties
Persediaan - neto 3.462.763.531 6 3.133.621.502 Inventories - net
Persediaan tanah kawasan industri 3.756.816.356 13 1.620.808.463 Industrial estate land inventory
Pajak dibayar di muka 147.198.948 27a,37 90.016.621 Prepaid taxes
Uang muka 147.409.624 85.322.248 Advance payments
Biaya dibayar di muka 81.762.138 7 73.764.039 Prepaid expenses
Aset lancar lainnya 428.410.352 3,8,27c,37 164.000.732 Other current assets

Total Aset Lancar 20.998.111.740 18.163.000.346 Total Current Assets

Aset Tidak Lancar Non-Current Assets

Piutang usaha jangka panjang Long-term trade receivables

dari pihak ketiga - neto 304.429.436 3,5a 387.378.827 from third parties - net
Investasi pada entitas asosiasi 492.359.823 9 445.892.740 Investments in associates
Aset pajak tangguhan - neto 188.343.792 27d 201.297.850 Deferred tax assets - net
Properti investasi 1.816.567.520 12 1.816.567.520 Investment property
Aset tetap - neto 6.365.009.877 10,18,34 5.466.446.896 Property, plant and equipment - net
Aset hak-guna - neto 793.367.518 11,32 617.801.889 Right-of-use assets - net
Estimasi tagihan pajak Estimated claims for
penghasilan jangka panjang 15.571.175 27c 16.274.311 tax refund - long-term
Persediaan tanah kawasan industri Industrial estate land inventory
untuk pengembangan 1.983.264.085 13 3.026.267.791 for development
Uang muka 27.211.667 34 42.968.020 Advance payments
Aset keuangan tidak lancar Other non-current
lainnya - neto 74.742.610 3,34 66.662.432 financial assets - net
Aset tidak lancar lainnya - neto 49.705.125 46.013.184 Other non-current assets - net

Total Aset Tidak Lancar 12.110.572.628 12.133.571.460 Total Non-Current Assets

Total Aset 33.108.684.368 30.296.571.806 Total Assets

Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements.
secara keseluruhan.

282 Annual Report 2024

 The original consolidated financial statements included herein
are in Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF
KONSOLIDASIAN (lanjutan) FINANCIAL POSITION (continued)
Tanggal 31 Desember 2024 As of December 31, 2024
(Disajikan dalam Ribuan Rupiah, (Expressed in Thousands of Rupiah,
kecuali Dinyatakan Lain) unless Otherwise Stated)

Catatan/
2024 Notes 2023

Liabilitas dan Ekuitas Liabilities and Equity

Liabilitas Liabilities

Liabilitas Jangka Pendek Current Liabilities

Hutang bank jangka pendek 7.000.000 3,17 5.000.000 Short-term bank loan
Hutang usaha 3 Trade payables
Pihak berelasi 54.828.597 32 - Related party
Pihak ketiga 10.336.753.865 14a 9.519.185.995 Third parties
Hutang lain-lain - pihak ketiga 464.043.998 3,14b 349.640.045 Other payables - third parties
Hutang pajak 402.699.824 27b,37 491.976.527 Taxes payable
Biaya masih harus dibayar 585.685.122 3,15 571.823.594 Accrued expenses
Liabilitas imbalan kerja Short-term employee
jangka pendek 144.298.160 29 187.750.044 benefits liabilities
Liabilitas sewa jangka pendek 45.084.227 3,16 43.446.381 Current lease liabilities
Liabilitas kontrak jangka pendek 272.002.142 12,32 224.865.280 Current contract liabilities
Hutang bank jangka panjang dan lainnya Current maturities of long-term
yang jatuh tempo dalam satu tahun 1.140.851.204 3,18 1.089.267.780 bank loans and others
Hutang obligasi Current maturities of
yang jatuh tempo dalam satu tahun - 3,19 36.833.937 bonds payables
Hutang dividen 1.000.288 3 55.536.914 Dividend payable

Total Liabilitas Jangka Pendek 13.454.247.427 12.575.326.497 Total Current Liabilities

Liabilitas Jangka Panjang Non-Current Liabilities

Liabilitas pajak tangguhan - neto 25.699.726 27d 18.384.131 Deferred tax liabilities - net
Hutang bank jangka panjang dan lainnya
setelah dikurangi bagian
yang jatuh tempo dalam Long-term bank loans and others
satu tahun 3.645.033.749 3,18 3.117.277.847 net of current maturities
Liabilitas imbalan pasca kerja 179.043.946 29 177.230.676 Post-employment benefits liabilities
Liabilitas kontrak jangka panjang 631.405.255 12 19.380.841 Non-current contract liabilities
Liabilitas sewa jangka panjang 479.142.813 3,16 336.940.196 Non-current lease liabilities
Hutang dividen 54.107.938 3,20 - Dividend payable
Liabilitas jangka panjang lainnya 16.011.040 9.074.105 Other non-current liabilities

Total Liabilitas Jangka Panjang 5.030.444.467 3.678.287.796 Total Non-Current Liabilities

Total Liabilitas 18.484.691.894 16.253.614.293 Total Liabilities

Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements.
secara keseluruhan.

Annual Report 2024 283

 The original consolidated financial statements included herein
are in Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF
KONSOLIDASIAN (lanjutan) FINANCIAL POSITION (continued)
Tanggal 31 Desember 2024 As of December 31, 2024
(Disajikan dalam Ribuan Rupiah, (Expressed in Thousands of Rupiah,
kecuali Dinyatakan Lain) unless Otherwise Stated)

Catatan/
2024 Notes 2023

Ekuitas Equity

Ekuitas yang Dapat Diatribusikan Equity Attributable to the

Kepada Pemilik Entitas Induk Owners of the Parent Entity

Modal saham - nilai nominal Share capital - Rp20 par value per
Rp20 per saham (angka penuh) share (full amount)
Modal dasar - 37.500.000.000 Authorized -
saham 37,500,000,000 shares
Modal ditempatkan dan disetor Issued and fully paid -
penuh - 20.073.474.600 saham 401.469.492 21 401.469.492 20,073,474,600 shares
Tambahan modal disetor 1.301.477.917 22 1.287.163.057 Additional paid-in capital
Saham treasuri - 320.655.000 saham Treasury stock - 320,655,000 shares
pada 31 Des. 2024 at Dec. 31, 2024 (Dec. 31, 2023:
(31 Des. 2023: 336.305.000 saham) (112.577.374 ) 21 (118.071.864) 336,305,000 shares)
Exchange difference
Selisih kurs karena penjabaran due to translation of
laporan keuangan 251.982.560 226.451.794 financial statements
Komponen ekuitas lainnya Other component of equity
Bagian atas perubahan lainnya Share of other changes
dari ekuitas entitas anak 68.994.782 23 68.996.200 in equity of subsidiaries
Saldo laba Retained earnings
- Ditentukan penggunaannya 3.918.000 28 3.718.000 Appropriated -
- Tidak ditentukan penggunaannya 9.647.271.262 9.392.897.529 Unappropriated –

11.562.536.639 11.262.624.208

Kepentingan nonpengendali 3.061.455.835 20 2.780.333.305 Non-controlling interests

Total Ekuitas 14.623.992.474 14.042.957.513 Total Equity

Total Liabilitas dan Ekuitas 33.108.684.368 30.296.571.806 Total Liabilities and Equity

Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements.
secara keseluruhan.

284 Annual Report 2024

 The original consolidated financial statements included herein
are in Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENT OF
KOMPREHENSIF LAIN KONSOLIDASIAN PROFIT OR LOSS AND OTHER
Untuk Tahun yang Berakhir COMPREHENSIVE INCOME
pada Tanggal 31 Desember 2024 For the Year Ended
(Disajikan dalam Ribuan Rupiah, December 31, 2024
kecuali Dinyatakan Lain) (Expressed in Thousands of Rupiah,
unless Otherwise Stated)

Catatan/
2024 Notes 2023

Pendapatan dari kontrak dengan Revenue from contract

pelanggan 38.457.126.044 24,32 41.817.425.630 with customers
Pendapatan sewa 272.367.254 269.526.806 Rental income

Total Pendapatan 38.729.493.298 42.086.952.436 Total Revenues

Beban Pokok Penjualan dan

Pendapatan (35.220.457.367) 25 (37.613.487.899) Cost of Sales and Revenues

Laba bruto 3.509.035.931 4.473.464.537 Gross profit

Beban Usaha 26,32 Operating Expenses

Beban umum dan administrasi (873.443.923) (877.798.573) General and administrative expenses
Beban penjualan (101.147.934) (97.071.990) Selling expenses

Pendapatan (Beban) Usaha Lainnya Other Operating Income (Expenses)

Laba atas penjualan/pengalihan Gain on sale/transfer of property,
aset tetap - neto 3.733.007 10 14.657.761 plant and equipment - net
Laba selisih kurs - neto 13.689.654 6.248.958 Foreign exchange gain - net
Pendapatan usaha lainnya 38.790.304 48.961.005 Other operating income
Beban usaha lainnya (12.191.957) (7.927.557) Other operating expenses

Laba usaha 2.578.465.082 3.560.534.141 Operating profit

Penghasilan keuangan 352.599.086 196.567.492 Finance income

Pajak final terkait Final tax related
penghasilan keuangan (53.714.989) (35.675.352) to finance income
Beban keuangan (84.909.111) 16,17,18,19 (68.489.236) Finance costs
Bagian atas laba entitas asosiasi 46.467.083 9 34.534.891 Share in profit of associates

Laba Sebelum Pajak Final dan Profit Before Final and

Pajak Penghasilan 2.838.907.151 3.687.471.936 Income Tax

Pajak final (26.556.061) (19.813.545) Final tax

Laba Sebelum Pajak Penghasilan 2.812.351.090 3.667.658.391 Profit Before Income Tax

Pajak penghasilan - neto: 27c Income tax - net:

Pajak kini (393.765.710) (577.041.476) Current tax
Pajak tangguhan (19.117.868) (12.147.214) Deferred tax

Pajak penghasilan - neto (412.883.578) (589.188.690) Income tax - net

Laba Neto Tahun Berjalan 2.399.467.512 3.078.469.701 Net Profit for the Year

Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements.
secara keseluruhan.

Annual Report 2024 285

 The original consolidated financial statements included herein
are in Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENT OF
KOMPREHENSIF LAIN KONSOLIDASIAN (lanjutan) PROFIT OR LOSS AND OTHER
Untuk Tahun yang Berakhir COMPREHENSIVE INCOME (continued)
pada Tanggal 31 Desember 2024 For the Year Ended
(Disajikan dalam Ribuan Rupiah, December 31, 2024
kecuali Dinyatakan Lain) (Expressed in Thousands of Rupiah,
unless Otherwise Stated)

Catatan/
2024 Notes 2023

Penghasilan Komprehensif Lain Other Comprehensive Income

Pos yang Direklasifikasi Item to be Reclassified
ke Laba Rugi pada to Profit or Loss
Periode Mendatang in Subsequent Period
Exchange difference due to
Selisih kurs karena penjabaran translation of financial
laporan keuangan 49.726.617 (19.633.446) statements

Pos yang Tidak Direklasifikasi Item Not to be Reclassified

ke Laba Rugi pada to Profit or Loss in
Periode Mendatang Subsequent Period
Keuntungan (kerugian) aktuarial Actuarial gain (loss) of
atas imbalan pasca kerja 4.324.503 29 (11.753.559) post-employment benefits
Pajak tangguhan terkait (1.151.785 ) 1.243.052 Related deferred tax

Penghasilan (Rugi) Komprehensif Other Comprehensive Income (Loss)

Lain Tahun Berjalan Setelah Pajak 52.899.335 (30.143.953) for the Year, Net of Tax

Total Penghasilan Komprehensif Total Comprehensive Income

Tahun Berjalan 2.452.366.847 3.048.325.748 for the Year

Laba Tahun Berjalan Profit for the Year

yang Dapat Diatribusikan kepada: Attributable to:
Pemilik entitas induk 2.225.117.975 2.780.349.511 Equity holders of parent entity
Kepentingan nonpengendali 174.349.537 20 298.120.190 Non-controlling interests

Laba Neto Tahun Berjalan 2.399.467.512 3.078.469.701 Net Profit for the Year

Total Penghasilan Komprehensif Total Comprehensive

Tahun Berjalan yang Income for the Year
Dapat Diatribusikan kepada: Attributable to:
Pemilik entitas induk 2.253.821.459 2.760.912.670 Equity holders of parent entity
Kepentingan nonpengendali 198.545.388 20 287.413.078 Non-controlling interests

Total Penghasilan Komprehensif Total Comprehensive

Tahun Berjalan 2.452.366.847 3.048.325.748 Income for the Year

LABA PER SAHAM 31 EARNINGS PER SHARE

(dalam Rupiah penuh) (in full Rupiah)
Yang diatribusikan kepada Attributable to equity
pemilik entitas induk holders of the parent entity
Dasar 112,73 140,87 Basic

Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements.
secara keseluruhan.

286 Annual Report 2024

 The original consolidated financial statements included herein are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Untuk Tahun yang Berakhir Pada Tanggal 31 Desember 2024 For the Year Ended December 31, 2024
(Disajikan dalam Ribuan Rupiah, kecuali Dinyatakan Lain) (Expressed in Thousands of Rupiah, unless Otherwise Stated)

Ekuitas yang Dapat Diatribusikan kepada Pemilik Entitas Induk/Equity Attributable to the Equity Holders of the Parent Entity

Selisih Kurs
Karena
Penjabaran Bagian Atas
Laporan Perubahan
Keuangan/ Lainnya
Saldo Laba/ Exchange Dari Ekuitas
Modal Tambahan Retained Earnings Difference Entitas Anak/
Ditempatkan dan Modal Saham Due to Share of Kepentingan
Disetor Penuh/ Disetor/ Treasuri/ Ditentukan Tidak Ditentukan Translation of Other Changes Nonpengendali/
Catatan/ Paid-up Capital Additional Treasury Penggunaannya/ Penggunaannya/ Financial in Equity Total/ Non-controlling Total Ekuitas/
Notes Stock Paid-in Capital Stock Appropriated Unappropriated Statements of Subsidiaries Total Interest Total Equity

Saldo per 1 Januari 2024 401.469.492 1.287.163.057 (118.071.864) 3.718.000 9.392.897.529 226.451.794 68.996.200 11.262.624.208 2.780.333.305 14.042.957.513 Balance as of January 1, 2024

Laba tahun berjalan 2024 - - - - 2.225.117.975 - - 2.225.117.975 174.349.537 2.399.467.512 Profit for the year 2024

Penghasilan komprehensif lain - - - - 3.172.718 25.530.766 - 28.703.484 24.195.851 52.899.335 Other comprehensive income

Total penghasilan komprehensif Total comprehensive income

tahun berjalan - - - - 2.228.290.693 25.530.766 - 2.253.821.459 198.545.388 2.452.366.847 for the year

Pencadangan umum 28 - - - 200.000 (200.000) - - - - - Appropriation of general reserve

Pembagian dividen kepada Distribution of dividends to

pemilik entitas induk 28 - - - - (1.973.716.960) - - (1.973.716.960) - (1.973.716.960) equity holders of parent entity

Bagian atas perubahan lainnya Share of other changes in equity

dari ekuitas entitas anak 23 - - - - - - (1.418) (1.418) 1.418 - of subsidiaries

Penerbitan kembali saham treasuri 21 - 2.314.860 5.494.490 - - - - 7.809.350 - 7.809.350 Reissuance of treasury stock

Pelaksanaan MESOP 21 - 12.000.000 - - - - - 12.000.000 - 12.000.000 Exercise of MESOP

Penambahan investasi oleh Additional investment by

kepentingan nonpengendali 20 - - - - - - - - 82.575.724 82.575.724 non-controlling interests

Saldo per 31 Desember 2024 401.469.492 1.301.477.917 (112.577.374) 3.918.000 9.647.271.262 251.982.560 68.994.782 11.562.536.639 3.061.455.835 14.623.992.474 Balance as of December 31, 2024

Annual Report 2024

Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan. The accompanying notes to the consolidated financial statements orom an integral part of these consolidated financial statements.

287
6
 The original consolidated financial statements included herein are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES

288
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN (lanjutan) CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (continued)
Untuk Tahun yang Berakhir Pada Tanggal 31 Desember 2024 For the Year Ended December 31, 2024
(Disajikan dalam Ribuan Rupiah, kecuali Dinyatakan Lain) (Expressed in Thousands of Rupiah, unless Otherwise Stated)

Ekuitas yang Dapat Diatribusikan kepada Pemilik Entitas Induk/Equity Attributable to the Equity Holders of the Parent Entity

Selisih Kurs
Karena

Annual Report 2024

Penjabaran Bagian Atas
Laporan Perubahan
Keuangan/ Lainnya
Saldo Laba/ Exchange Dari Ekuitas
Modal Tambahan Retained Earnings Difference Entitas Anak/
Ditempatkan dan Modal Saham Due to Share of Kepentingan
Disetor Penuh/ Disetor/ Treasuri/ Ditentukan Tidak Ditentukan Translation of Other Changes Nonpengendali/
Catatan/ Paid-up Capital Additional Treasury Penggunaannya/ Penggunaannya/ Financial in Equity Total/ Non-controlling Total Ekuitas/
Notes Stock Paid-in Capital Stock Appropriated Unappropriated Statements of Subsidiaries Total Interest Total Equity

Saldo per 1 Januari 2023 401.469.492 1.287.163.057 (118.071.864) 3.518.000 9.090.404.725 235.378.128 69.001.149 10.968.862.687 2.185.948.088 13.154.810.775 Balance as of January 1, 2023

Laba tahun berjalan 2023 - - - - 2.780.349.511 - - 2.780.349.511 298.120.190 3.078.469.701 Profit for the year 2023

Rugi komprehensif lain - - - - (10.510.507) (8.926.334) - (19.436.841) (10.707.112) (30.143.953) Other comprehensive loss

Total penghasilan komprehensif Total comprehensive income

tahun berjalan - - - - 2.769.839.004 (8.926.334) - 2.760.912.670 287.413.078 3.048.325.748 for the year

Pencadangan umum 28 - - - 200.000 (200.000) - - - - - Appropriation of general reserve

Pembagian dividen kepada Distribution of dividends to

pemilik entitas induk 28 - - - - (2.467.146.200) - - (2.467.146.200) - (2.467.146.200) equity holders of parent entity

Bagian atas perubahan lainnya Share of other changes in equity

dari ekuitas entitas anak 23 - - - - - - (4.949) (4.949) 4.949 - of subsidiaries

Penambahan investasi oleh Additional investment by

kepentingan nonpengendali 20 - - - - - - - - 306.967.190 306.967.190 non-controlling interests

Saldo per 31 Desember 2023 401.469.492 1.287.163.057 (118.071.864) 3.718.000 9.392.897.529 226.451.794 68.996.200 11.262.624.208 2.780.333.305 14.042.957.513 Balance as of December 31, 2023

Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan. The accompanying notes to the consolidated financial statements orom an integral part of these consolidated financial statements.

7
 The original consolidated financial statements included herein are in
the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF
Untuk Tahun yang Berakhir CASH FLOWS
Pada Tanggal 31 Desember 2024 For the Year Ended December 31, 2024
(Disajikan dalam Ribuan Rupiah, (Expressed in Thousands of Rupiah,
kecuali Dinyatakan Lain) unless Otherwise Stated)

Catatan/
2024 Notes 2023

ARUS KAS DARI AKTIVITAS CASH FLOWS FROM

OPERASI OPERATING ACTIVITIES
Kas yang diterima dari pelanggan 42.610.375.219 46.155.348.462 Cash received from customers
Pembayaran kas kepada pemasok Cash payments to suppliers
dan untuk beban usaha (38.272.118.301 ) (39.920.722.875) and for operating expenses

Kas yang diperoleh dari

aktivitas operasi 4.338.256.918 6.234.625.587 Cash provided by operating activities

Penerimaan dari (pembayaran untuk): Cash received from (payments for):

Penghasilan keuangan 215.740.530 148.600.565 Finance income
Beban keuangan (52.398.505 ) (59.823.435) Finance costs
Akuisisi persediaan tanah Acquisitions of industrial
kawasan industri, termasuk estate land inventory, including
uang muka ke kontraktor advanced payments to contractors
dan kapitalisasi bunga (1.232.041.471 ) 13 (1.143.894.858) and interest capitalization
Pengembalian pajak penghasilan Refund of income tax
dan pajak lainnya 324.761.348 292.675.226 and other taxes
Pembayaran pajak penghasilan Payment of income tax
dan pajak lainnya (2.247.687.582 ) (1.970.285.390) and other taxes

Kas Neto yang Diperoleh dari Net Cash Provided by

Aktivitas Operasi 1.346.631.238 3.501.897.695 Operating Activities

ARUS KAS DARI AKTIVITAS CASH FLOWS FROM

INVESTASI INVESTING ACTIVITIES
Proceeds from sale/transfer of
Hasil penjualan/pengalihan aset tetap 10.077.582 10 63.443.491 property, plant and equipment
Penerimaan dividen dari Receipt of cash dividend
entitas asosiasi 4.403.386 9 1.539.036 from associate entity
Acquisitions of property,
Perolehan aset tetap (1.187.078.235 ) 10,36 (635.802.929) plant and equipment
Uang muka pembelian Advance for purchase of
aset tetap (315.505 ) (12.714.392) property, plant, and equipment

Kas Neto yang Digunakan untuk Net Cash Used in

Aktivitas Investasi (1.172.912.772 ) (583.534.794) Investing Activities

Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang The accompanying notes to the consolidated financial statements form an integral
tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan. part of these consolidated financial statements.

Annual Report 2024 289

 The original consolidated financial statements included herein are in
the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CASH FLOWS
(lanjutan) (continued)
Untuk Tahun yang Berakhir For the Year Ended December 31,2024
Pada Tanggal 31 Desember 2024 (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

Catatan/
2024 Notes 2023

ARUS KAS DARI AKTIVITAS CASH FLOWS FROM

PENDANAAN FINANCING ACTIVITIES
Penambahan hutang bank
jangka pendek 300.500.000 17 64.200.000 Proceeds of short-term bank loans
Pembayaran hutang bank
jangka pendek (298.500.000 ) 17 (60.773.100) Repayments of short-term bank loans
Penambahan hutang bank Proceeds of long-term
jangka panjang 2.700.000.000 18 2.438.212.337 bank loans
Pembayaran hutang bank Repayments of long-term bank loans
jangka panjang dan lainnya (2.120.433.892 ) 18 (870.240.766) and others
Pembayaran liabilitas sewa (131.265.846 ) 16 (59.676.224) Payment of lease liabilities
Pembayaran dividen tunai kepada Payments of cash dividends to
pemilik entitas induk (1.973.716.960 ) 28 (2.467.146.200) equity holders of the parent entity
Penerbitan kembali saham treasuri Reissuance of treasury stock
melalui program MESOP 7.809.350 21 - through MESOP program
Pembayaran hutang obligasi (37.000.000 ) 19 - Payment of bonds payable
Penerimaan setoran modal dari Capital contribution from
kepentingan nonpengendali non-controlling interest
entitas anak 82.575.724 20 306.967.190 of subsidiaries

Kas Neto yang

Digunakan untuk Net Cash Used in
Aktivitas Pendanaan (1.470.031.624 ) (648.456.763 ) Financing Activities

KENAIKAN (PENURUNAN) NETO NET INCREASE (DECREASE) IN

KAS DAN SETARA KAS (1.296.313.158 ) 2.269.906.138 CASH AND CASH EQUIVALENTS

Effect of foreign exchange

Dampak perubahan selisih kurs 126.679.085 (72.261.208) rate changes

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS

AWAL TAHUN 6.535.625.681 4 4.337.980.751 AT BEGINNING OF YEAR

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS

AKHIR TAHUN 5.365.991.608 4 6.535.625.681 AT END OF YEAR

Pengungkapan tambahan informasi arus kas disajikan Supplemental cash flow information is presented in
dalam Catatan 36. Note 36.

Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang The accompanying notes to the consolidated financial statements form an
tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan. integral part of these consolidated financial statements.

290 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan untuk As of December 31, 2024 and
Tahun yang Berakhir pada Tanggal Tersebut for the Year Then Ended
(Disajikan dalam Ribuan Rupiah, (Expressed in Thousands of Rupiah,
kecuali Dinyatakan Lain) unless Otherwise Stated)

1. UMUM 1. GENERAL

a. Pendirian dan Informasi Umum a. Establishment and General Information

PT AKR Corporindo Tbk ("Perusahaan") PT AKR Corporindo Tbk (the "Company")

didirikan di Surabaya berdasarkan Akta Notaris was established in Surabaya on
Sastra Kosasih, S.H., No. 46 tanggal November 28, 1977, based on the Notarial
28 November 1977 yang diubah dengan Akta Deed No. 46 of Sastra Kosasih, S.H., which
Notaris No. 26 oleh notaris yang sama tanggal was amended by Notarial Deed No. 26 of the
12 April 1978. Akta pendirian dan perubahannya same notary dated April 12, 1978. The deed
telah disahkan oleh Menteri Kehakiman Republik of establishment and its amendment were
Indonesia dalam Surat Keputusan approved by the Ministry of Justice of the
No. Y.A.5/151/7 tanggal 14 Juni 1978, Republic of Indonesia in its Decision Letter
didaftarkan pada Pengadilan Negeri Surabaya No. Y.A.5/151/7 dated June 14, 1978,
dalam Surat No. 277/1978 dan No. 278/1978 registered at the District Court of Surabaya in
tanggal 20 Juli 1978 serta diumumkan dalam its Letters No. 277/1978 and No. 278/1978
lembaran Berita Negara No. 101 Tambahan No. on July 20, 1978, and published in
741 tanggal 19 Desember 1978. Pada tahun Supplement No. 741 of the State Gazette
1985, Perusahaan memindahkan kantor No. 101 dated December 19, 1978. In 1985,
pusatnya ke lokasinya pada saat ini di Jakarta. the Company moved its head office to its
Pada tahun 2004, Perusahaan mengganti current location in Jakarta. In 2004, the
namanya dari PT Aneka Kimia Raya Tbk menjadi Company changed its name from PT Aneka
PT AKR Corporindo Tbk. Anggaran Dasar Kimia Raya Tbk to PT AKR Corporindo Tbk.
Perusahaan telah mengalami perubahan dari The Articles of Association of the Company
waktu ke waktu yang mana perubahan terakhir has been amended from time to time, the
dicakup dalam Akta Notaris Aulia Taufani, S.H., latest of which is covered in Notarial Deed of
No. 47 tanggal 28 April 2023, mengenai Aulia Taufani, S.H., No. 47 dated
perubahan susunan Dewan Komisaris April 28, 2023, concerning changes in the
Perusahaan. composition of Board of Commissioners of the
Company.

Sesuai dengan Pasal 3 Anggaran Dasar As stated in Article 3 of the Company’s Articles
Perusahaan, ruang lingkup kegiatan usaha of Association, the scope of its main business
utama Perusahaan antara lain meliputi bidang activities comprises of chemical and
industri barang kimia dan bahan bakar minyak; petroleum industry; wholesale and retail sale
perdagangan besar dan kecil dan distribusi trading and distribution of primarily chemical
terutama bahan kimia dan bahan bakar minyak products and petroleum products and gas;
(“BBM”) dan gas; pengangkutan dan transportation and warehousing (activities of
pergudangan (aktivitas penyewaan dan sewa lease and finance lease without option rights,
guna usaha tanpa hak opsi, ketenagakerjaan, employment, travel agent and other business
agen perjalanan dan penunjang usaha lainnya); support); professional, scientific and technical
aktivitas profesional, ilmiah dan teknis (jasa); (services) activities; and supporting business
serta kegiatan usaha penunjang yang meliputi activities comprises of transportation and
pengangkutan dan pergudangan; konstruksi; warehousing; construction; procurement of
pengadaan listrik, gas, uap, air panas dan udara electricity, gas, steam, hot water and cool air.
dingin.

Perusahaan saat ini bergerak dalam bidang The Company is currently engaged in the
distribusi produk BBM ke pasar industri, distribution of petroleum products to industrial
distribusi dan perdagangan bahan kimia (seperti customers, distribution and trading of chemical
caustic soda, sodium sulfat, PVC resin dan soda products (such as caustic soda, sodium
ash) yang digunakan oleh berbagai industri di sulphate, PVC resin and soda ash) used by
Indonesia sesuai dengan perjanjian distribusi various industries in Indonesia in accordance
dengan produsen asing dan lokal, penyewaan with distributorship agreements with foreign
gudang, kendaraan angkutan, tangki dan jasa and local manufacturers, rental of
logistik lainnya. warehouses, transportation vehicles, tanks
and other logistic services.

10

Annual Report 2024 291

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

1. UMUM (lanjutan) 1. GENERAL (continued)

a. Pendirian dan Informasi Umum (lanjutan) a. Establishment and General Information

(continued)

Perusahaan memulai kegiatan usaha The Company started its commercial

komersialnya pada bulan Juni 1978. operations in June 1978.

Perusahaan berdomisili di AKR Tower, Lantai The Company is domiciled at AKR Tower, 26th
26, JI. Panjang No. 5, Kebon Jeruk, Jakarta. Floor, JI. Panjang No. 5, Kebon Jeruk, Jakarta.
Kantor cabang utama Perusahaan berlokasi Its major branch office is located at
di JI. Sumatra No. 51-53, Surabaya. Kantor JI. Sumatra No. 51-53, Surabaya. Other sales
penjualan lainnya sekaligus terminal tangki office also the tank terminals is located in
berlokasi di Medan, Palembang, Lampung, Medan, Palembang, Lampung, Ciwandan
Ciwandan (Banten), Bandung, Semarang, (Banten), Bandung, Semarang, Pontianak,
Pontianak, Balikpapan, Banjarmasin, Stagen Balikpapan, Banjarmasin, Stagen (South
(Kalimantan Selatan), Muara Teweh (Kalimantan Kalimantan), Muara Teweh (Central
Tengah), Manado, Morowali (Sulawesi Tengah) Kalimantan), Manado, Morowali (Central
dan Bali. Sulawesi) and Bali.

Anggota Dewan Komisaris, Direksi dan Komite The members of the Company's Boards of
Audit Perusahaan pada 31 Desember 2024 dan Commissioners (“BOC”) and Directors
2023 adalah sebagai berikut: (“BOD”) and Audit Committee on
December 31, 2024 and 2023 are as follows:

Dewan Komisaris Board of Commissioners

Presiden Komisaris : Soegiarto Adikoesoemo : President Commissioner
Komisaris Independen : Moh. Fauzi M. Ichsan : Independent Commissioner
Komisaris : Sofyan A. Djalil : Commissioner

Dewan Direksi Board of Directors

Presiden Direktur : Haryanto Adikoesoemo : President Director
Direktur : Jimmy Tandyo : Directors
Bambang Soetiono
Mery Sofi
Suresh Vembu
Nery Polim
Termurti Tiban

Komite Audit Audit Committee

Ketua : Moh. Fauzi M. Ichsan : Chairman
Anggota : Sahat Pardede : Members
Djisman Simandjuntak

Susunan Dewan Komisaris dan Direksi diangkat The composition of BOD and BOC appointed
berdasarkan keputusan Rapat Umum on April 28, 2023 through the Annual General
Pemegang Saham Tahunan tanggal Shareholders’ Meeting is effective until the
28 April 2023 berlaku efektif sampai dengan Annual General Shareholders' Meeting to be
penutupan Rapat Umum Pemegang Saham held in 2025.
Tahunan tahun 2025.
Pada tanggal 31 Desember 2024, Perusahaan The Company and its Subsidiaries have total
dan Entitas Anak mempunyai 2.074 karyawan permanent employees of 2,074 as of
tetap (31 Desember 2023: 1.994) (tidak diaudit). December 31, 2024 (December 31, 2023:
1,994) (unaudited).

11

292 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

1. UMUM (lanjutan) 1. GENERAL (continued)

b. Entitas Anak yang Dikonsolidasi b. Consolidated Subsidiaries
Entitas Induk dan Entitas Induk Terakhir dari The Parent and Ultimate Parent Company of
Perusahaan dan Entitas Anak (bersama-sama the Company and its Subsidiaries (together
disebut sebagai “Kelompok Usaha AKR” atau referred to as “AKR Group” or the “Group”) is
“Kelompok Usaha”) adalah PT Arthakencana PT Arthakencana Rayatama which is part of
Rayatama yang merupakan bagian dari the business group owned by Soegiarto’s and
kelompok Usaha yang dimiliki oleh keluarga Haryanto Adikoesoemo’s family based in
Soegiarto dan Haryanto Adikoesoemo yang Indonesia.
berbasis di Indonesia.
Total Aset
Mulai Sebelum Eliminasi
Persentase Beroperasi/ (Dalam Jutaan Rupiah)/
Pemilikan/ Start of Total Assets
Entitas Anak/ Domisili/ Kegiatan Pokok/ Percentage of Commercial Before Elimination
Subsidiaries Domicile Principal Activity Ownership Operations (In Millions of Rupiah)
31 Des. 2024/ 31 Des. 2023/ 31 Des. 2024/ 31 Des. 2023/
Dec. 31, 2024 Dec. 31, 2023 Dec. 31, 2024 Dec. 31, 2023

PT Usaha Era Pratama Nusantara Surabaya Jasa logistik/ 99,99 99,99 2000 12.171.806 10.343.681
("UEPN") dan Entitas Anak/ Logistic services
and Subsidiary

PT Anugerah Krida Retailindo ("AKRIDA") Jakarta Perdagangan, 99,99 99,99 2018 2.107.729 1.720.212
dan Entitas Anak/and Subsidiaries perusahaan holding/
Trading, holding company

PT Jakarta Tank Terminal ("JTT") Jakarta Terminal tangki 51,00 51,00 2010 1.179.575 1.244.753
penyimpanan/
Tank storage terminal

PT AKR Sea Transport ("AST") Jakarta Pelayaran domestik/ 99,99 99,99 2013 867.263 673.354
Domestic shipping

PT Andahanesa Abadi ("Andahanesa") Jakarta Jasa logistik/ 99,99 99,99 1982 612.297 422.018
dan Entitas Anak/and Subsidiaries Logistic services

PT Arjuna Utama Kimia ("Aruki") Surabaya Pabrikan bahan perekat/ 99,96 99,96 1976 377.797 354.489
Manufacturing of
adhesive materials

PT AKR Transportasi Indonesia ("ATI") Jakarta Jasa logistik/ 99,90 99,90 2013 255.182 172.458
Logistic services

Chemical Petroleum International Singapura Perdagangan/ 100,00 - 2024 84.000 -

Trading Pte. Ltd. ("CPIT") Trading

PT AKR Niaga Indonesia ("ANI") Jakarta Perdagangan kimia dasar/ 99,99 99,99 2013 79.595 73.475
dan Entitas Anak/and Subsidiary Basic chemical trading

PT Berkah Buana Energi ("BBE") Gresik Distribusi dan pengangkutan/ 65,00 65,00 - 54.898 31.255
Distribution and transportation

PT Berkah Renewable Energi Gresik Pembangkitan, pengoperasian, 99,97 - - 30.914 -

Nusantara ("BREN") konstruksi dan
instalasi tenaga listrik/
Electrical power generation,
operation, construction and
installation

PT Terminal Energi Primer (TEP) Gresik Jasa logistik/, 99,99 - - 25.083 -

Logistic services

PT Anugrah Karya Raya (Anugrah) Jakarta Perdagangan dan 99,99 99,99 2011 756 683
pertambangan batubara/
Coal trading and mining

12

Annual Report 2024 293

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

1. UMUM (lanjutan) 1. GENERAL (continued)

b. Entitas Anak yang Dikonsolidasi (lanjutan) b. Consolidated Subsidiaries (continued)

Rincian mengenai entitas anak dari UEPN The details of the subsidiary of UEPN are as
adalah sebagai berikut: follows:
Total Aset
Mulai Sebelum Eliminasi
Persentase Beroperasi/ (Dalam Jutaan Rupiah)/
Kepemilikan/ Start of Total Assets
Entitas Anak/ Domisili/ Kegiatan Pokok/ Percentage of Commercial Before Elimination
Subsidiary Domicile Principal Activity Ownership Operations (In Millions of Rupiah)

31 Des. 2024/ 31 Des. 2023/ 31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023 Dec. 31, 2024 Dec. 31, 2023

PT Berkah Kawasan Manyar Sejahtera Surabaya Pengoperasian kawasan 60,00 60,00 2015 11.671.519 9.420.604
("BKMS") industri dan fasilitas
pendukung/
Industrial estate operations
and supporting facilities

Berdasarkan Peraturan Pemerintah Nomor 71 Based on the Government Regulation

Tahun 2021 tanggal 28 Juni 2021 Number 71 Year 2021 dated June 28, 2021
(PP No. 71/2021), Pemerintah Indonesia telah (PP No. 71/2021), the Government of
menetapkan lokasi usaha BKMS di Gresik, Jawa Indonesia has designated BKMS commercial
Timur sebagai Kawasan Ekonomi Khusus location at Gresik, East Java, as a Special
(“KEK”) dalam area batas delineasi dalam PP Economic Zone (“SEZ”) within the area as
tersebut. Penetapan ini diharapkan akan defined in the PP. This designation is expected
membawa nilai tambah untuk BKMS sebagai to bring value added to both BKMS as the
developer dan operator dari Kawasan Industri developer and operator of Java Integrated
dan Pelabuhan Jawa Terpadu (“JIIPE”) serta Industrial and Ports Estate (“JIIPE”) and the
para pelaku usaha di dalam Kawasan tersebut. tenants of the said Estate.

Rincian mengenai entitas anak dari Andahanesa The details of the subsidiaries of Andahanesa
adalah sebagai berikut: are as follows:
Total Aset
Mulai Sebelum Eliminasi
Persentase Beroperasi/ (Dalam Jutaan Rupiah)/
Kepemilikan/ Start of Total Assets
Entitas Anak/ Domisili/ Kegiatan Pokok/ Percentage of Commercial Before Elimination
Subsidiaries Domicile Principal Activity Ownership Operations (In Millions of Rupiah)

31 Des. 2024/ 31 Des. 2023/ 31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023 Dec. 31, 2024 Dec. 31, 2023

PT Terminal Nilam Utara ("TNU") Surabaya Jasa logistik/ 60,00 60,00 2018 373.079 387.995
Logistic services

PT Anugerah Kreasi Pratama Surabaya Jasa logistik/ 99,99 99,99 - 232.826 32.838
Indonesia ("AKPI") Logistic services

PT Krida Jasa Utama ("KJU") Jakarta Jasa logistik/ 99,80 99,80 - 459 500
Logistic services

13

294 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

1. UMUM (lanjutan) 1. GENERAL (continued)

b. Entitas Anak yang Dikonsolidasi (lanjutan) b. Consolidated Subsidiaries (continued)

Rincian mengenai entitas anak dari AKRIDA The details of the subsidiaries of AKRIDA are
adalah sebagai berikut: as follows:
Total Aset
Mulai Sebelum Eliminasi
Persentase Beroperasi/ (Dalam Jutaan Rupiah)/
Kepemilikan/ Start of Total Assets
Entitas Anak/ Domisili/ Kegiatan Pokok/ Percentage of Commercial Before Elimination
Subsidiaries Domicile Principal Activity Ownership Operations (In Millions of Rupiah)

31 Des. 2024/ 31 Des. 2023/ 31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023 Dec. 30, 2024 Dec. 31, 2023

PT Aneka Petroindo Raya ("APR") Jakarta Perdagangan/ 50,10 50,10 2018 1.912.311 1.572.104
Trading
PT Dirgantara Petroindo Raya ("DPR") Jakarta Perdagangan/ 50,10 50,10 2019 75.481 71.406
Trading
PT Anugerah Lubrindo Raya ("ALR") Jakarta Perdagangan/ 80,00 80,00 2019 98.335 61.834
dan Entitas Anak/and Subsidiaries Trading
PT Berkah Bunker Service ("BBS") Surabaya Jasa logistik/ 99,99 99,99 - 20.060 10.000
Logistic services

Rincian mengenai entitas anak dari ALR adalah The details of the subsidiaries of ALR are as
sebagai berikut: follows:

Total Aset
Mulai Sebelum Eliminasi
Persentase Beroperasi/ (Dalam Jutaan Rupiah)/
Kepemilikan/ Start of Total Assets
Entitas Anak/ Domisili/ Kegiatan Pokok/ Percentage of Commercial Before Elimination
Subsidiaries Domicile Principal Activity Ownership Operations (In Millions of Rupiah)

31 Des. 2024/ 31 Des. 2023/ 31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023 Dec. 31, 2024 Dec. 31, 2023

PT Anugerah Lubrindo Batam ("ALB") Jakarta Perdagangan/ 99,90 99,90 2019 4.313 2.746
Trading
Lubrindo Shipping Services Pte.Ltd Singapura/ Perdagangan umum 100 100 2019 7.915 1.230
("LSS") Singapore (pemasaran minyak pelumas)/
General trading
(marketing of lubricants)

Rincian mengenai entitas anak dari ANI adalah The details of the subsidiary of ANI are as
sebagai berikut: follows:
Total Aset
Mulai Sebelum Eliminasi
Persentase Beroperasi/ (Dalam Jutaan Rupiah)/
Kepemilikan/ Start of Total Assets
Entitas Anak/ Domisili/ Kegiatan Pokok/ Percentage of Commercial Before Elimination
Subsidiary Domicile Principal Activity Ownership Operations (In Millions of Rupiah)

31 Des. 2024/ 31 Des. 2023/ 31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023 Dec. 31, 2024 Dec. 31, 2023

PT Anugerah Kimia Indonesia ("AKI") Jakarta Perdagangan/ 51,00 51,00 2021 78.527 72.361
Trading

14

Annual Report 2024 295

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

1. UMUM (lanjutan) 1. GENERAL (continued)

b. Entitas Anak yang Dikonsolidasi (lanjutan) b. Consolidated Subsidiaries (continued)

Aktivitas investasi di tahun 2024 Investment activities in 2024

Berdasarkan Akta Notaris Yulia, S.H., No. 13 Based on the Notarial Deed of Yulia, S.H.,
tanggal 8 Januari 2024, AKRIDA meningkatkan No. 13 dated January 8, 2024, AKRIDA
modal ditempatkan dan disetor dari increased its issued and paid-up capital from
Rp821.165.000 menjadi Rp949.165.000 dimana Rp821,165,000 to Rp949,165,000 whereby
Perusahaan mengambil keseluruhan kenaikan the Company subscribed the entire capital
saham tersebut sebesar Rp128.000.000. increase of Rp128,000,000. The Company has
Perusahaan telah melakukan Keterbukaan made the Disclosure of Information
Informasi melalui Surat No. 005/L-AKR-CS/2024 in its Letter No. 005/L-AKR-CS/2024 dated
tanggal 10 Januari 2024 ke Otoritas Jasa January 10, 2024 to Financial Service
Keuangan (“OJK”) dan Bursa Efek Indonesia Authority (“OJK”) and Indonesia Stock
(“BEI”). Exchange (“IDX”).

Selanjutnya, Akta Notaris Yulia, S.H., No. 167 Further, on the Notarial Deed of Yulia, S.H.,
tanggal 25 September 2024, AKRIDA No. 167 dated September 25, 2024, AKRIDA
meningkatkan modal ditempatkan dan disetor increased its issued and paid-up capital from
dari Rp949.165.000 menjadi Rp967.165.000 Rp949,165,000 to Rp967,165,000 whereby the
dimana Perusahaan mengambil keseluruhan Company subscribed the entire capital
kenaikan saham tersebut sebesar increase of Rp18,000,000. The Company has
Rp18.000.000. Perusahaan telah melakukan made the Disclosure of Information in
Keterbukaan Informasi melalui its Letter No. 108/L-AKR-CS/2024 dated
Surat No. 108/L-AKR-CS/2024 tanggal September 26, 2024 to OJK and IDX.
26 September 2024 ke ke OJK dan BEI.

Selanjutnya, Akta Notaris Yulia, S.H., No. 126 Moreover, on the Notarial Deed of Yulia, S.H.,
tanggal 26 November 2024, AKRIDA No. 126 dated November 26, 2024, AKRIDA
meningkatkan modal dasar dari increased its authorized capital from
Rp1.000.000.000 menjadi Rp1.500.000.000 dan Rp1,000,000,000 to Rp1,500,000,0000 and
meningkatkan modal ditempatkan dan disetor increased its issued and paid-up capital from
dari Rp967.165.000 menjadi Rp1.039.165.000 Rp967,165,000 to Rp1,039,165,000 whereby
dimana Perusahaan mengambil keseluruhan the Company subscribed the entire capital
kenaikan saham tersebut sebesar increase of Rp72,000,000. The Company has
Rp72.000.000. Perusahaan telah melakukan made the Disclosure of Information
Keterbukaan Informasi melalui in its Letter No. 120/L-AKR-CS/2024 dated
Surat No. 120/L-AKR-CS/2024 tanggal December 11, 2024 to OJK and IDX.
11 Desember 2024 ke OJK dan BEI.

Berdasarkan Akta Notaris Yulia, S.H., No. 151 Based on Notarial Deed of Yulia, S.H., No. 151
tanggal 29 Oktober 2024, APR meningkatkan dated October 29, 2024, APR increased its
modal ditempatkan dan disetor dari issued and paid-up capital from
Rp1.683.713.448 menjadi Rp1.833.790.860 Rp1,683,713,448 to Rp1,833,790,860 whereby
dimana AKRIDA mengambil bagian dari AKRIDA subscribed the capital increase of
peningkatan modal disetor sebanyak Rp75,188,783, while the other shareholder,
Rp75.188.783, sedangkan pemegang saham BP Global Investment Limited, subscribed the
lainnya, BP Global Investment Limited, remaining amount of Rp74,888,629.
mengambil sisa saham sebesar Rp74.888.629.

15

296 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

1. UMUM (lanjutan) 1. GENERAL (continued)

b. Entitas Anak yang Dikonsolidasi (lanjutan) b. Consolidated Subsidiaries (continued)

Aktivitas investasi di tahun 2024 (lanjutan) Investment activities in 2024 (continued)

Berdasarkan Akta Notaris Yulia, S.H., No. 32 Based on the Notarial Deed of Yulia, S.H.,
tanggal 7 Oktober 2024, Perusahaan dan No. 32 dated October 7, 2024, the Company
UEPN mendirikan satu entitas baru, and UEPN established a new entity,
PT Terminal Energi Primer (”TEP”). PT Terminal Energi Primer (“TEP”). The
Perusahaan memiliki 99,99% kepemilikan di Company holds a 99.99% ownership in TEP
TEP dan sisanya dimiliki oleh UEPN dengan and the remaining is held by UEPN, with a total
modal dasar TEP sebesar Rp100.000.000. authorized capital amount of Rp100,000,000.
Modal dasar tersebut telah ditempatkan dan The authorized capital has been issued and
disetor sebesar Rp25.000.000, dimana paid-up amounting to Rp25,000,000, whereby
Perusahaan mengambil bagian dari modal the Company subscribed the paid-up capital of
yang disetor Rp24.990.000, sedangkan
Rp24,990,000, while the other shareholder,
pemegang saham lainnya, UEPN, mengambil
UEPN, subscribed the remaining amount of
sisa saham sebesar Rp10.000. TEP akan
bergerak dalam bidang pergudangan dan Rp10,000. TEP will engage in warehousing and
penyimpanan, penyimpanan minyak dan gas storage, oil and gas storage, and other
bumi, dan aktivitas penunjang lainya. supporting activities.

Berdasarkan Akta Notaris Yulia, S.H., Based on the Notarial Deed of Yulia, S.H.,
No. 16 tanggal 3 Oktober 2024, BBS No. 16 dated October 3, 2024, BBS increased
meningkatkan modal ditempatkan dan disetor its issued and paid-up capital from
dari Rp10.000.000 menjadi Rp20.000.000 Rp10,000,000 to Rp20,000,000 whereby
dimana AKRIDA mengambil keseluruhan AKRIDA subscribed the entire capital increase
kenaikan saham tersebut sebesar of Rp10,000,000.
Rp10.000.000.

Berdasarkan Akta Notaris Yulia, S.H., Based on Notarial Deed of Yulia, S.H., No. 188
No. 188 tanggal 2 Oktober 2024, DPR dated October 2, 2024, DPR increased its
meningkatkan modal ditempatkan dan disetor dari issued and paid-up capital from Rp142,904,600
Rp142.904.600 menjadi Rp158.309.600 dimana to Rp158,309,600 whereby AKRIDA
AKRIDA mengambil bagian dari peningkatan subscribed the capital increase of
modal disetor sebanyak Rp7.717.905, sedangkan Rp7,717,905, while the other shareholder, BP
pemegang saham lainnya, BP Global Investment Global Investment Limited, subscribed the
Limited, mengambil sisa saham sebesar remaining amount of Rp7,687,095.
Rp7.687.095.

Berdasarkan Akta Notaris Yulia, S.H., No. 11 Based on the Notarial Deed of Yulia, S.H.,
tanggal 8 Januari 2024, ADH meningkatkan No. 11 dated January 8, 2024, ADH increased
modal ditempatkan dan disetor dari its issued and paid-up capital from
Rp205.950.000 menjadi Rp355.950.000 dimana Rp205,950,000 to Rp355,950,000 whereby
Perusahaan mengambil keseluruhan kenaikan the Company subscribed the entire capital
saham tersebut sebesar Rp150.000.000. increase of Rp150,000,000. The Company
Perusahaan telah melakukan Keterbukaan has made the Disclosure of Information in
Informasi melalui Surat No. 006/L-AKR-CS/2024 its Letter No. 006/L-AKR-CS/2024 dated
tanggal 10 Januari 2024 ke OJK dan BEI. January 10, 2024 to OJK and IDX.

Selanjutnya, Akta Notaris Yulia, S.H., No. 33 Further, on the Notarial Deed of Yulia, S.H.,
tanggal 12 Juli 2024, ADH meningkatkan modal No. 33 dated July 12, 2024, ADH increased its
ditempatkan dan disetor dari Rp355.950.000 issued and paid-up capital from
menjadi Rp356.449.000 dimana Perusahaan Rp355.950,000 to Rp356,449,000 whereby
mengambil keseluruhan kenaikan saham the Company subscribed to the entire capital
tersebut sebesar Rp499.000. Perusahaan telah increase of Rp499,000. The Company has
melakukan Keterbukaan Informasi melalui Surat made the Disclosure of Information in its Letter
No. 073/L-AKR-CS/2024 tanggal 18 Juli 2024 ke No. 073/L-AKR-CS/2024 dated July 18, 2024
OJK dan BEI. to OJK and IDX.
16

Annual Report 2024 297

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

1. UMUM (lanjutan) 1. GENERAL (continued)

b. Entitas Anak yang Dikonsolidasi (lanjutan) b. Consolidated Subsidiaries (continued)

Aktivitas investasi di tahun 2024 (lanjutan) Investment activities in 2024 (continued)

Pada tanggal 12 April 2024, AKR mendirikan satu On April 12, 2024, AKR established a new
entitas baru, Chemical Petroleum International entity, Chemical Petroleum International
Trading Pte. Ltd. (“CPIT”) di Singapura. AKR Trading Pte. Ltd. (“CPIT”) in Singapore. AKR
memiliki 100% kepemilikan di CPIT. CPIT akan holds a 100% ownership in CPIT. CPIT will
bergerak dalam bidang perdagangan dan engage mainly in trading and distribution of
distribusi produk kimia dan bahan bakar minyak. chemicals and petroleums products. The total
Total modal disetor dan ditempatkan CPIT paid up capital is amounting to
sebesar US$5.000.134,72. Perusahaan telah US$5,000,134.72. The Company has made
melakukan Keterbukaan Informasi melalui Surat the Disclosure of Information in
No. 040/L-AKR-CS/2024 tanggal 17 April 2024 its Letter No. 040/L-AKR-CS/2024 dated
dan No. 055/L-AKR-CS/2024 tanggal 4 Juni 2024 April 17, 2024 and No. 055/L-AKR-CS/2024
ke OJK dan BEI. dated June 4, 2024 to OJK and IDX.

Berdasarkan Akta Notaris Yulia, S.H., No. 63 Based on the Notarial Deed of Yulia, S.H.,
tanggal 23 Februari 2024, AST meningkatkan No. 63 dated February 23, 2024, AST
modal dasar dari Rp300.000.000 menjadi increased its authorized capital from
Rp500.000.000 dan meningkatkan modal Rp300,000,000 to Rp500,000,000 and
ditempatkan dan disetor dari Rp274.900.000 increased its issued and paid-up capital from
menjadi Rp404.900.000 dimana Perusahaan Rp274,900,000 to Rp404,900,000 whereby
mengambil keseluruhan kenaikan saham the Company subscribed the entire capital
tersebut sebesar Rp130.000.000. Perusahaan increase of Rp130,000,000. The Company
telah melakukan Keterbukaan Informasi has made the Disclosure of Information in
melalui Surat No. 017/L-AKR-CS/2024 tanggal its Letter No. 017/L-AKR-CS/2024 dated
27 Februari 2024 ke OJK dan BEI. February 27, 2024 to OJK and IDX.

Berdasarkan Akta Notaris Yulia, S.H., No. 12 Based on the Notarial Deed of Yulia, S.H.,
tanggal 8 Januari 2024, AKPI meningkatkan No. 12 dated January 8, 2024, AKPI increased
modal dasar dari Rp100.000.000 menjadi its authorized capital from Rp100,000,000 to
Rp500.000.000 dan meningkatkan modal Rp500,000,000 and increased its issued and
ditempatkan dan disetor dari Rp30.000.000 paid-up capital from Rp30,000,000 to
menjadi Rp180.000.000 dimana Andahanesa Rp180,000,000 whereby Andahanesa
mengambil keseluruhan kenaikan saham subscribed the entire capital increase of
tersebut sebesar Rp150.000.000. Rp150,000,000.

Berdasarkan Akta Notaris Yulia, S.H., No. 8 Based on the Notarial Deed of Yulia, S.H.,
tanggal 5 Januari 2024, AKR dan UEPN No. 8 dated January 5, 2024, AKR and UEPN
mendirikan satu entitas baru, PT Berkah established a new entity, PT Berkah
Renewable Energi Nusantara (“BREN”). AKR Renewable Energi Nusantara (“BREN”). AKR
memiliki 99,97% kepemilikan di BREN dan holds a 99.97% ownership in BREN and the
sisanya dimiliki oleh UEPN, dengan jumlah remaining is held by UEPN, with a total
modal disetor sebesar Rp30.000.000. BREN subscribed capital amount of Rp30,000,000.
akan bergerak dalam bidang pembangkitan, BREN will engage in electrical power
pengoperasian, konstruksi dan instalasi tenaga generation, operation, construction and
listrik. Perusahaan telah melakukan Keterbukaan installation activities. The Company has
Informasi melalui Surat No. 004/L-AKR-CS/2024 made the Disclosure of Information in
tanggal 9 Januari 2024 ke OJK dan BEI. its Letter No. 004/L-AKR-CS/2024 dated
January 9, 2024 to OJK and IDX.

17

298 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

1. UMUM (lanjutan) 1. GENERAL (continued)

b. Entitas Anak yang Dikonsolidasi (lanjutan) b. Consolidated Subsidiaries (continued)

Aktivitas investasi di tahun 2023 Investment activities in 2023

Berdasarkan Akta Notaris Yulia, S.H., No. 77 Based on the Notarial Deed of Yulia, S.H.,
tanggal 24 Februari 2023, APR meningkatkan No. 77 dated February 24, 2023, APR
modal ditempatkan dan disetor dari increased its issued and paid-up capital from
Rp1.173.434.256 menjadi Rp1.218.449.484 Rp1,173,434,256 to Rp1,218,449,484
dimana AKRIDA mengambil bagian dari whereby AKRIDA subscribed the capital
peningkatan modal disetor sebanyak increase of Rp22,552,629, while the other
Rp22.552.629, sedangkan pemegang saham shareholder, BP Global Investment Limited,
lainnya, BP Global Investment Limited, subscribed the remaining amount of
mengambil sisa saham sebesar Rp22.462.599. Rp22,462,599.

Selanjutnya, berdasarkan Akta Notaris Yulia, Further, based on the Notarial Deed of Yulia,
S.H., No. 48 tanggal 24 Juli 2023, APR S.H., No. 48 dated July 24, 2023, APR
meningkatkan modal dasar dari increased its authorized capital from
Rp1.301.283.900 menjadi Rp1.621.107.900 dan Rp1,301,283,900 to Rp1,621,107,900 and
meningkatkan modal ditempatkan dan disetor increased its issued and paid-up capital from
dari Rp1.218.449.484 menjadi Rp1.323.511.668 Rp1,218,449,484 to Rp1,323,511,668
dimana AKRIDA mengambil bagian dari whereby AKRIDA subscribed the capital
peningkatan modal disetor sebanyak increase of Rp52,636,154, while the other
Rp52.636.154, sedangkan pemegang saham shareholder, BP Global Investment Limited,
lainnya, BP Global Investment Limited, subscribed the remaining amount of
mengambil sisa saham sebesar Rp52.426.030. Rp52,426,030.

Selanjutnya, berdasarkan Akta Notaris Yulia, Moreover, based on the Notarial Deed of
S.H., No. 6 tanggal 1 Desember 2023, APR Yulia, S.H., No. 6 dated December 1, 2023,
meningkatkan modal ditempatkan dan disetor APR increased its issued and paid-up capital
dari Rp1.323.511.668 menjadi Rp1.428.573.852 from Rp1,323,511,668 to Rp1,428,573,852
dimana AKRIDA mengambil bagian dari whereby AKRIDA subscribed the capital
peningkatan modal disetor sebanyak increase of Rp52,636,154, while the other
Rp52.636.154, sedangkan pemegang saham shareholder, BP Global Investment Limited,
lainnya, BP Global Investment Limited, subscribed the remaining amount of
mengambil sisa saham sebesar Rp52.426.030. Rp52,426,030.

Selanjutnya, Akta Notaris Yulia, S.H., No. 124 Furthermore, on the Notarial Deed of Yulia,
tanggal 29 Desember 2023, APR meningkatkan S.H., No. 124 dated December 29, 2023,
modal dasar dari Rp1.621.107.900 menjadi APR increased its authorized capital from
Rp2.020.887.900 dan meningkatkan modal Rp1,621,107,900 to Rp2,020,887,900 and
ditempatkan dan disetor dari Rp1.428.573.852 increased its issued and paid-up capital from
menjadi Rp1.683.713.448 dimana AKRIDA Rp1,428,573,852 to Rp1,683,713,448
mengambil bagian dari peningkatan modal whereby AKRIDA subscribed the capital
disetor sebanyak Rp127.824.938, sedangkan increase of Rp127,824,938, while the other
pemegang saham lainnya, BP Global Investment shareholder, BP Global Investment Limited,
Limited, mengambil sisa saham sebesar subscribed the remaining amount of
Rp127.314.658. Rp127,314,658.

18

Annual Report 2024 299

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

1. UMUM (lanjutan) 1. GENERAL (continued)

b. Entitas Anak yang Dikonsolidasi (lanjutan) b. Consolidated Subsidiaries (continued)

Aktivitas investasi di tahun 2023 (lanjutan) Investment activities in 2023 (continued)

Berdasarkan Akta Notaris Yulia, S.H., No. 51 Based on the Notarial Deed of Yulia, S.H.,
tanggal 11 Desember 2023, Andahanesa dan No. 51 dated December 11, 2023,
Bpk. Yuwono Ongkowijoyo (“Yuwono”) Andahanesa and Mr. Yuwono Ongkowijoyo
mendirikan satu entitas baru, KJU. Andahanesa (“Yuwono”) established a new entity, KJU.
memiliki 99,80% kepemilikan di KJU dan sisanya Andahanesa holds a 99.80% ownership in
dimiliki oleh Yuwono dengan modal dasar KJU KJU and the remaining is held by Yuwono,
sebesar Rp2.000.000. KJU bergerak dalam with a total authorized capital amount of
bidang penyediaan sumber daya manusia dan Rp2,000,000. KJU is engaged in the provision
manajemen fungsi, dan perdagangan eceran of human resources and management
Bahan Bakar Minyak (“BBM”), Bahan Bakar Gas functions, and retail trading of Fuel Oil
(“BBG”) dan Liquefied Petroleum Gas (“LPG”). (“BBM”), Fuel Gas (“BBG”) and Liquefied
Petroleum Gas (“LPG”).

Berdasarkan Akta Notaris Yulia, S.H., No. 47 Based on the Notarial Deed of Yulia, S.H.,
tanggal 17 Februari 2023, AKRIDA No. 47 dated February 17, 2023, AKRIDA
meningkatkan modal ditempatkan dan disetor increased its issued and paid-up capital from
dari Rp677.995.000 menjadi Rp700.595.000 Rp677,995,000 to Rp700,595,000 whereby
dimana Perusahaan mengambil keseluruhan the Company subscribed the entire capital
kenaikan saham tersebut sebesar increase of Rp22,600,000. The Company has
Rp22.600.000. Perusahaan telah melakukan made the Disclosure of Information in its
Keterbukaan Informasi melalui Letter No. 006/L-AKR-CS/2023 dated
Surat No. 006/L-AKR-CS/2023 tanggal February 21, 2023 to OJK and IDX.
21 Februari 2023 ke OJK dan BEI.

Selanjutnya, berdasarkan Akta Notaris Yulia, Further, based on the Notarial Deed of Yulia,
S.H., No. 51 tanggal 19 Mei 2023, AKRIDA S.H., No. 51 dated May 19, 2023, AKRIDA
meningkatkan modal ditempatkan dan disetor increased its issued and paid-up capital from
dari Rp700.595.000 menjadi Rp705.865.000 Rp700,595,000 to Rp705,865,000 whereby
dimana Perusahaan mengambil keseluruhan the Company subscribed the entire capital
kenaikan saham tersebut sebesar Rp5.270.000. increase of Rp5,270,000. The Company has
Perusahaan telah melakukan Keterbukaan made the Disclosure of Information in its
Informasi melalui Surat No. 037/L-AKR-CS/2023 Letter No. 037/L-AKR-CS/2023 dated
tanggal 22 Mei 2023 ke OJK dan BEI. May 22, 2023 to OJK and IDX.

Selanjutnya, berdasarkan Akta Notaris Yulia, Moreover, based on the Notarial Deed of
S.H., No. 35 tanggal 10 Agustus 2023, AKRIDA Yulia, S.H., No. 35 dated August 10, 2023,
meningkatkan modal ditempatkan dan disetor AKRIDA increased its issued and
dari Rp705.865.000 menjadi Rp768.515.000 paid-up capital from Rp705,865,000 to
dimana Perusahaan mengambil keseluruhan Rp768,515,000 whereby the Company
kenaikan saham tersebut sebesar subscribed the entire capital increase of
Rp62.650.000. Perusahaan telah melakukan Rp62,650,000. The Company has made
Keterbukaan Informasi melalui the Disclosure of Information in
Surat No. 061/L-AKR-CS/2023 tanggal its Letter No. 061/L-AKR-CS/2023 dated
11 Agustus 2023 ke OJK dan BEI. August 11, 2023 to OJK and IDX.

19

300 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

1. UMUM (lanjutan) 1. GENERAL (continued)

b. Entitas Anak yang Dikonsolidasi (lanjutan) b. Consolidated Subsidiaries (continued)

Aktivitas investasi di tahun 2023 (lanjutan) Investment activities in 2023 (continued)

Selanjutnya, berdasarkan Akta Notaris Yulia, Furthermore, based on the Notarial Deed of
S.H., No. 1 tanggal 1 Desember 2023, AKRIDA Yulia, S.H., No. 1 dated December 1, 2023,
meningkatkan modal ditempatkan dan disetor AKRIDA increased its issued and paid-up
dari Rp768.515.000 menjadi Rp821.165.000 capital from Rp768,515,000 to
dimana Perusahaan mengambil keseluruhan Rp821,165,000 whereby the Company
kenaikan saham tersebut sebesar subscribed the entire capital increase of
Rp52.650.000. Perusahaan telah melakukan Rp52,650,000. The Company has
Keterbukaan Informasi melalui made the Disclosure of Information in
Surat No. 101/L-AKR-CS/2023 tanggal its Letter No. 101/L-AKR-CS/2023 dated
5 Desember 2023 ke OJK dan BEI. December 5, 2023 to OJK and IDX.

Berdasarkan Akta Notaris Yulia, S.H., No. 21 Based on the Notarial Deed of Yulia, S.H.,
tanggal 12 Oktober 2023, AST meningkatkan No. 21 dated October 12, 2023, AST
modal ditempatkan dan disetor dari increased its issued and paid-up capital from
Rp194.900.000 menjadi Rp274.900.000 dimana Rp194,900,000 to Rp274,900,000 whereby
Perusahaan mengambil keseluruhan kenaikan the Company subscribed the entire capital
saham tersebut sebesar Rp80.000.000. increase of Rp80,000,000. The Company has
Perusahaan telah melakukan Keterbukaan made the Disclosure of Information in its
Informasi melalui Surat No. 081/L-AKR-CS/2023 Letter No. 081/L-AKR-CS/2023 dated
tanggal 16 Oktober 2023 ke OJK dan BEI. October 16, 2023 to OJK and IDX.

Berdasarkan Akta Notaris Yulia, S.H., No. 1 Based on the Notarial Deed of Yulia, S.H.,
tanggal 2 Oktober 2023, AKRIDA dan No. 1 dated October 2, 2023, AKRIDA and
Andahanesa mendirikan satu entitas baru, BBS. Andahanesa established a new entity, BBS.
AKRIDA memiliki 99,99% kepemilikan di BBS AKRIDA holds a 99.99% ownership in BBS
dan sisanya dimiliki oleh Andahanesa, dengan and the remaining is held by Andahanesa,
jumlah modal disetor sebesar Rp10.000.000. with a total subscribed capital amount of
BBS bergerak dalam bidang aktivitas pelayanan Rp10,000,000. BBS is engaged in sea port
kepelabuhan laut. Perusahaan telah services activities. The Company has
melakukan Keterbukaan Informasi melalui made the Disclosure of Information in
Surat No. 075/L-AKR-CS/2023 tanggal its Letter No. 075/L-AKR-CS/2023 dated
3 Oktober 2023 ke OJK dan BEI. October 3, 2023 to OJK and IDX.

Berdasarkan Akta Notaris Yulia, S.H., No. 66 Based on the Notarial Deed of Yulia, S.H.,
tanggal 28 Juli 2023, Andahanesa dan UEPN No. 66 dated July 28, 2023, Andahanesa and
mendirikan satu entitas baru, AKPI. Andahanesa UEPN established a new entity, AKPI.
memiliki 99,99% kepemilikan di AKPI dan Andahanesa holds a 99.99% ownership in
sisanya dimiliki oleh UEPN, dengan jumlah AKPI and the remaining is held by UEPN, with
modal disetor sebesar Rp30.000.000. AKPI a total subscribed capital amount of
bergerak dalam bidang pergudangan dan Rp30,000,000. AKPI is engaged in
penyimpanan, penyimpanan minyak dan gas warehousing and storage, oil and gas storage,
bumi, aktivitas bounded warehousing atau bounded warehousing activities or
wilayah kawasan berikat, pergudangan dan bounded areas, other warehousing and
penyimpanan lainnya. Perusahaan telah storage. The Company has made the
melakukan Keterbukaan Informasi melalui Disclosure of Information in its Letter
Surat No. 052/L-AKR-CS/2023 tanggal No. 052/L-AKR-CS/2023 dated August 1, 2023
1 Agustus 2023 ke OJK dan BEI. to OJK and IDX.

20

Annual Report 2024 301

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

1. UMUM (lanjutan) 1. GENERAL (continued)

b. Entitas Anak yang Dikonsolidasi (lanjutan) b. Consolidated Subsidiaries (continued)

Aktivitas investasi di tahun 2023 (lanjutan) Investment activities in 2023 (continued)

Berdasarkan Akta Notaris Yulia, S.H., No. 98 Based on the Notarial Deed of Yulia, S.H.,
tanggal 23 Juni 2023, DPR meningkatkan modal No. 98 dated June 23, 2023, DPR increased
ditempatkan dan disetor dari Rp132.578.200 its issued and paid-up capital from
menjadi Rp142.904.600 dimana AKRIDA Rp132,578,200 to Rp142,904,600 whereby
mengambil bagian dari peningkatan modal AKRIDA subscribed the capital increase of
disetor sebanyak Rp5.173.527, sedangkan Rp5,173,527, while the other shareholder, BP
pemegang saham lainnya, BP Global Investment Global Investment Limited, subscribed the
Limited, mengambil sisa saham sebesar remaining amount of Rp5,152,873.
Rp5.152.873.

Berdasarkan Akta Notaris Yulia, S.H., No. 45 Based on the Notarial Deed of Yulia, S.H.,
tanggal 16 Mei 2023, BBE meningkatkan modal No. 45 dated May 16, 2023, BBE increased its
ditempatkan dan disetor dari Rp15.500.000 issued and paid-up capital from
menjadi Rp24.600.000 dimana Perusahaan Rp15,500,000 to Rp24,600,000 whereby
mengambil bagian dari peningkatan modal the Company subscribed the capital
disetor sebesar Rp5.915.000, sedangkan increase of Rp5,915,000, while the other
pemegang saham lainnya, PT Bayu Buana shareholder, PT Bayu Buana Gemilang
Gemilang (“BBG”) mengambil sisa saham (“BBG”), subscribed the remaining amount of
sebesar Rp3.185.000. Perusahaan telah Rp3,185,000. The Company has made the
melakukan Keterbukaan Informasi melalui Surat Disclosure of Information in its Letter
No. 036/L-AKR-CS/2023 tanggal 19 Mei 2023 ke No. 036/L-AKR-CS/2023 dated May 19, 2023
OJK dan BEI. to OJK and IDX.

Berdasarkan Akta Notaris Yatiningsih, Based on the Notarial Deed of Yatiningsih,

S.H., M.H., No. 92 tanggal 27 April 2023, TNU S.H., M.H., No. 92 dated April 27, 2023, TNU
meningkatkan modal ditempatkan dan disetor increased its issued and paid-up capital from
dari Rp171.250.000 menjadi Rp281.250.000 Rp171,250,000 to Rp281,250,000 whereby
dimana Andahanesa mengambil bagian dari Andahanesa subscribed the capital increase
peningkatan modal disetor sebanyak of Rp66,000,000, while the other shareholder,
Rp66.000.000, sedangkan pemegang saham PT Berlian Jasa Terminal Indonesia,
lainnya, PT Berlian Jasa Terminal Indonesia, subscribed the remaining amount of
mengambil sisa saham sebesar Rp44.000.000. Rp44,000,000.

c. Penawaran Umum dan Aktivitas Pencatatan c. Public Offering of Shares and Corporate
Perusahaan Activities of the Company

Pada bulan September 1994, Perusahaan telah In September 1994, the Company completed
melakukan penawaran umum perdana sebanyak the initial public offer of 15,000,000 shares at
15.000.000 lembar saham dengan harga an offering price of Rp4,000 (in full Rupiah) per
penawaran sebesar Rp4.000 (dalam Rupiah share. Further, in the same month, all of the
penuh) per saham. Selanjutnya, pada bulan Company’s shares totaling 65,000,000 shares
yang sama, seluruh saham Perusahaan at a par value of Rp1,000
sebanyak 65.000.000 lembar saham dengan (in full Rupiah) per share were listed on
nilai nominal Rp1.000 (dalam Rupiah penuh) per the IDX.
saham telah dicatatkan pada BEI.

21

302 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

1. UMUM (lanjutan) 1. GENERAL (continued)

c. Penawaran Umum dan Aktivitas Pencatatan c. Public Offering of Shares and Corporate
Perusahaan (lanjutan) Activities of the Company (continued)

Pada tahun 1996, para pemegang saham In 1996, the shareholders approved the stock
menyetujui pemecahan saham (stock split) yang split which resulted in the par value of the
menurunkan nilai nominal saham dari Rp1.000 shares being reduced from Rp1,000 (in full
(dalam Rupiah penuh) menjadi Rp500 (dalam Rupiah) to Rp500 (in full Rupiah) per share,
Rupiah penuh) per saham, dan pembagian and the distribution of 6:10 bonus shares.
saham bonus dengan perbandingan 6:10. As a result of the stock split and distribution of
Pemecahan saham dan pembagian saham bonus shares, the number of outstanding
bonus tersebut meningkatkan jumlah saham shares increased from 65,000,000 to
beredar dari 65.000.000 lembar saham menjadi 208,000,000 shares. In accordance with the
208.000.000 lembar saham. Sesuai dengan Letter No. 217/BEJ-1.2/1996 dated
Surat No. 217/BEJ-1.2/1996 tanggal September 27, 1996 from the IDX, all of the
27 September 1996 dari BEI, seluruh saham Company’s outstanding shares totaling
Perusahaan yang beredar sebanyak 208,000,000 shares at a par value of Rp500
208.000.000 lembar saham dengan nilai nominal (in full Rupiah) per share were listed on the
Rp500 (dalam Rupiah penuh) per saham telah IDX.
dicatatkan pada BEI.

Pada tanggal 24 Agustus 2004, Perusahaan On August 24, 2004, the Company submitted
telah mengajukan Pernyataan Pendaftaran the Registration Statement for Limited Public
dalam Rangka Penawaran Umum Terbatas I Offering I (Rights Issue) of 416,000,000
(Rights Issue) atas 416.000.000 lembar saham shares at an offering price of Rp500 (in full
dengan harga penawaran Rp500 (dalam Rupiah Rupiah) per share to the Indonesia Capital
penuh) per lembar saham kepada Badan Market and Financial Institution Supervisory
Pengawas Pasar Modal dan Lembaga Agency (“BAPEPAM-LK”). The Registration
Keuangan (“BAPEPAM-LK”). Pernyataan Statement became effective on
Pendaftaran tersebut telah efektif pada tanggal September 23, 2004 after the approval by the
23 September 2004 setelah disetujui oleh para shareholders through their Extraordinary
pemegang saham melalui Rapat Umum Shareholders' Meeting held on the same date.
Pemegang Saham Luar Biasa pada tanggal In the offering, every shareholder holding one
yang sama. Dalam penawaran tersebut, setiap share was entitled to buy two new shares.
pemegang saham yang memiliki satu lembar
saham berhak membeli dua lembar saham yang
ditawarkan.

Efektif tanggal 8 November 2004, seluruh saham Effective on November 8, 2004, all of the
Perusahaan telah dipindahkan pencatatannya Company's shares were transferred from the
dari Papan Pengembangan ke Papan Utama di listing at the Development Board to Primary
BEI berdasarkan Surat dari Bursa Efek Board in the IDX based on the Letter from the
tertanggal 5 November 2004. Stock Exchange dated November 5, 2004.

22

Annual Report 2024 303

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

1. UMUM (lanjutan) 1. GENERAL (continued)

c. Penawaran Umum dan Aktivitas Pencatatan c. Public Offering of Shares and Corporate
Perusahaan (lanjutan) Activities of the Company (continued)

Pada Rapat Umum Pemegang Saham Luar In the Extraordinary General Shareholders’
Biasa tanggal 31 Mei 2007, para pemegang Meeting, held on May 31, 2007, the
saham menyetujui hal-hal berikut: shareholders approved the following:

· Pemecahan saham (stock split) yang · Stock split which resulted in

menurunkan nilai nominal saham dari the par value of the shares being
Rp500 (dalam Rupiah penuh) menjadi reduced from Rp500 (in full Rupiah) to
Rp100 (dalam Rupiah penuh) per saham. Rp100 (in full Rupiah) per share.
Pemecahan saham tersebut meningkatkan As a result of the stock split,
jumlah saham beredar dari 624.000.000 the number of outstanding shares
lembar saham menjadi 3.120.000.000 increased from 624,000,000
lembar saham. Pemecahan saham ini shares to 3,120,000,000 shares. The
menjadi efektif pada tanggal stock split was effective on
27 Juli 2007 sebagaimana dinyatakan July 27, 2007 as noted IDX’s Letter
dalam Surat BEI tanggal 24 Juli 2007 No. PENG-638/BEJ.PSJ/P/07-2007 dated
No. PENG-638/BEJ.PSJ/P/07-2007. July 24, 2007.

· Peningkatan modal dasar Perusahaan · Increase in the authorized capital from

yang semula Rp416.000.000 menjadi Rp416,000,000 to Rp750,000,000 divided
Rp750.000.000 yang terbagi dalam into 7,500,000,000 shares at par value of
7.500.000.000 lembar saham dengan nilai Rp100 (in full Rupiah) per share.
nominal Rp100 (dalam Rupiah penuh) per
saham.

· Peningkatan modal disetor melalui · Increase in the subscribed capital through

mekanisme penambahan modal tanpa Hak the mechanism of increase of capital
Memesan Efek Terlebih Dahulu, melalui without rights issue, by granting share
program pemberian opsi saham kepada options to the Board of Directors,
Dewan Direksi, Komisaris selain Komisaris Commissioners other than Independent
Independen, dan karyawan kunci Commissioner and key employees of the
Perusahaan melalui Management and Company via Management and
Employees Stock Option Plan (“MESOP”) Employees Stock Option Plan (“MESOP”)
yang pertama kali diperkenalkan pada introduced initially in 2007 and concluded
tahun 2007 dan selesai pada tahun 2020. in 2020.

Pada tanggal 22 Desember 2009, Perusahaan On December 22, 2009, the Company
mengajukan Pernyataan Pendaftaran submitted the Registration Statement for
Penawaran Umum Terbatas II (Rights Issue II) Limited Public Offering II (Rights Issue II) to
kepada BAPEPAM-LK atas 627.658.500 lembar BAPEPAM-LK of 627,658,500 shares at par
saham dengan nilai nominal saham Rp100 value of Rp100 (in full Rupiah) per share with
(dalam Rupiah penuh) per lembar dengan harga offering price of Rp860 per share (in full
penawaran sebesar Rp860 per lembar saham Rupiah). In the offering, every shareholder
(dalam Rupiah penuh). Dalam penawaran holding five shares was entitled to buy one
tersebut, setiap pemegang saham yang memiliki new share. The Company has obtained the
lima lembar saham berhak membeli satu saham notice of effectivity from the Chairman of
yang ditawarkan. Perusahaan telah memperoleh BAPEPAM-LK in his Letter No. S-489/BL/2010
pernyataan efektif dari Ketua BAPEPAM-LK dated January 20, 2010. The notice is
melalui suratnya No. S-489/BL/2010 tertanggal effective after the approval from the
20 Januari 2010. Pernyataan tersebut shareholders through their Extraordinary
dinyatakan efektif setelah persetujuan dari para General Meeting held on January 21, 2010.
pemegang saham melalui Rapat Umum These shares have been listed on the IDX
Pemegang Saham Luar Biasa pada tanggal since February 2010.
21 Januari 2010. Saham tersebut telah
didaftarkan di BEI sejak bulan Februari 2010.
23

304 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

1. UMUM (lanjutan) 1. GENERAL (continued)

c. Penawaran Umum dan Aktivitas Pencatatan c. Public Offering of Shares and Corporate
Perusahaan (lanjutan) Activities of the Company (continued)

Penerimaan neto dari Rights Issue II terhadap The net proceeds from the Rights Issue II,
biaya-biaya sehubungan dengan pengeluaran after netting off with related share issuance
saham, sebesar Rp531.529.220 digunakan costs, amounting to Rp531,529,220 were
untuk pembangunan tambahan fasilitas terminal used for the construction of additional tank
tangki dan dermaga di berbagai lokasi dan untuk terminal facilities and jetty in various locations
keperluan modal kerja umum sehubungan and general working capital requirements in
dengan peningkatan kebutuhan persediaan relation to the increase of the Company’s
Perusahaan sejalan dengan peningkatan inventories in line with the increase of
kegiatan operasional sesuai dengan Prospektus operational activities in accordance with the
yang diterbitkan pada saat Rights Issue. Prospectus issued during the Rights Issue.

Pada tanggal 20 Desember 2021, para On December 20, 2021, the shareholders
pemegang saham menyetujui pemecahan approved the stock split which resulted in the
saham (stock split) yang menurunkan nilai par value of the shares being reduced from
nominal saham dari Rp100 (dalam Rupiah Rp100 (in full Rupiah) to Rp20 (in full Rupiah)
penuh) menjadi Rp20 (dalam Rupiah penuh) per per share. As a result of the stock split, the
saham. Pemecahan saham tersebut authorized share capital increased from initial
meningkatkan jumlah saham dasar semula dari 7,500,000,000 shares to 37,500,000,000
7.500.000.000 saham menjadi 37.500.000.000 shares and issued and fully paid shares
saham dan jumlah saham ditempatkan dan increased from 4,014,694,920 shares to
disetor penuh dari semula 4.014.694.920 saham 20,073,474,600 shares. In accordance with
menjadi 20.073.474.600 saham. Sesuai dengan the Letter No. S-10033/BEI.PP2/12-2021
Surat No. S-10033/BEI.PP2/12-2021 tanggal dated December 28, 2021 from the IDX,
28 Desember 2021 dari BEI, terhitung mulai effective on January 12, 2022, all of the
tanggal 12 Januari 2022, seluruh saham Company’s outstanding shares totaling
Perusahaan yang beredar sebanyak 20,073,474,600 shares at a par value of Rp20
20.073.474.600 lembar saham dengan nilai (in full Rupiah) per share were listed on the
nominal Rp20 (dalam Rupiah penuh) per saham IDX.
telah dicatatkan pada BEI.

d. Tanggal Penyelesaian Laporan Keuangan d. Completion Date of the Consolidated

Konsolidasian Financial Statements
Manajemen Perusahaan bertanggung jawab The management of the Company is
atas penyusunan laporan keuangan responsible for the preparation of the
konsolidasian yang diotorisasi untuk diterbitkan consolidated financial statements which were
pada tanggal 18 Maret 2025. authorized for issue on March 18, 2025.

24

Annual Report 2024 305

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL POLICIES INFORMATION

a. Dasar Penyajian Laporan Keuangan a. Basis of Presentation of the Consolidated

Konsolidasian Financial Statements

Laporan keuangan konsolidasian telah disusun The consolidated financial statements have
sesuai dengan Standar Akuntansi Keuangan di been prepared in accordance with Indonesian
Indonesia (“SAK”), yang mencakup Pernyataan Financial Accounting Standards (“SAK”),
dan Interpretasi yang dikeluarkan oleh Dewan which comprise the Statements and
Standar Akuntansi Keuangan Ikatan Akuntan Interpretations issued by the Financial
Indonesia (“DSAK IAI”) dan Peraturan-Peraturan Accounting Standards Board of the Institute of
serta Pedoman Penyajian dan Pengungkapan Indonesia Chartered Accountants (Dewan
Laporan Keuangan yang diterbitkan oleh Standar Akuntansi Keuangan Ikatan Akuntan
Otoritas Jasa Keuangan (“OJK”). Indonesia or “DSAK IAI”) and the Regulations
and Guidelines on Financial Statement
Presentation and Disclosures issued by
Financial Services Authority (Otoritas Jasa
Keuangan or “ OJK”).

Dasar penyusunan laporan keuangan The consolidated financial statements, except

konsolidasian, kecuali untuk laporan arus kas for the consolidated statements of cash flows,
konsolidasian, adalah dasar akrual. Laporan are prepared under the accrual basis of
keuangan konsolidasian tersebut disusun accounting. The measurement basis used is
berdasarkan biaya historis, kecuali beberapa the historical cost, except for certain accounts
akun tertentu disusun berdasarkan pengukuran which are measured on the bases described in
lain sebagaimana diuraikan dalam kebijakan the related accounting policies.
akuntansi masing-masing akun tersebut.

Laporan arus kas konsolidasian disusun The consolidated statements of cash flows
dengan menggunakan metode langsung dengan are prepared using the direct method with
mengelompokkan arus kas dalam aktivitas classifications of cash flows into operating,
operasi, investasi dan pendanaan. investing and financing activities.

Kebijakan akuntansi yang diterapkan oleh The accounting policies adopted by the Group
Kelompok Usaha adalah selaras bagi tahun yang are consistently applied for the years covered
dicakup oleh laporan keuangan konsolidasian, by the consolidated financial statements,
kecuali untuk standar akuntansi baru dan revisi except for new and revised accounting
seperti diungkapkan pada Catatan 2z dibawah standards as disclosed in the following
ini. Note 2z.

Kelompok Usaha telah menyusun laporan The Group has prepared the consolidated
keuangan konsolidasian dengan dasar bahwa financial statements on the basis that it will
Kelompok Usaha akan terus beroperasi secara continue to operate as a going concern.
berkesinambungan.

25

306 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

b. Prinsip-prinsip Konsolidasian b. Principles of Consolidation

Laporan keuangan konsolidasian meliputi laporan The consolidated financial statements comprise
keuangan Perusahaan dan entitas-entitas anak. the financial statements of the Company and its
Kendali diperoleh bila Kelompok Usaha terekspos subsidiaries. Control is achieved when the
atau memiliki hak atas imbal hasil variabel dari Group is exposed, or has rights, to variable
keterlibatannya dengan investee dan memiliki returns from its involvement with the investee
kemampuan untuk mempengaruhi imbal hasil and has the ability to affect those returns
tersebut melalui kekuasaannya atas investee. through its power over the investee. Thus, the
Dengan demikian, Kelompok Usaha Group controls an investee if and only if the
mengendalikan investee jika dan hanya jika Group has all of the following:
Kelompok Usaha memiliki seluruh hal berikut ini:

i) Kekuasaan atas investee, yaitu hak yang ada i) Power over the investee, that is existing
saat ini yang memberi Kelompok Usaha rights that give the Group current ability to
kemampuan kini untuk mengarahkan aktivitas direct the relevant activities of the investee,
relevan dari investee,
ii) Eksposur atau hak atas imbal hasil variabel ii) Exposure, or rights, to variable returns from
dari keterlibatannya dengan investee, dan its involvement with the investee, and
iii) Kemampuan untuk menggunakan iii) The ability to use its power over the investee
kekuasaannya atas investee untuk to affect its returns.
mempengaruhi jumlah imbal hasil.

Bila Kelompok Usaha tidak memiliki hak suara When the Group has less than a majority of the
atau hak serupa secara mayoritas atas suatu voting or similar rights of an investee, the Group
investee, Kelompok Usaha mempertimbangkan considers all relevant facts and circumstances in
semua fakta dan keadaan yang relevan dalam assessing whether it has power over an
mengevaluasi apakah mereka memiliki kekuasaan investee, including:
atas investee, termasuk:

i) Pengaturan kontraktual dengan pemilik hak i) The contractual arrangement with the other
suara lainnya dari investee, vote holders of the investee,
ii) Hak yang timbul atas pengaturan kontraktual ii) Rights arising from other contractual
lain, dan arrangements, and
iii) Hak suara dan hak suara potensial yang iii) The Group's voting rights and potential
dimiliki Kelompok Usaha. voting rights.

Kelompok Usaha menilai kembali apakah mereka The Group re-assesses whether or not it
mengendalikan investee bila fakta dan keadaan controls an investee if facts and circumstances
mengindikasikan adanya perubahan terhadap indicate that there are changes to one or more
satu atau lebih dari ketiga elemen dari of the three elements of control. Consolidation
pengendalian. Konsolidasi atas entitas-entitas of subsidiaries begins when the Group obtains
anak dimulai sejak Kelompok Usaha memperoleh control over the subsidiary and ceases when the
pengendalian atas entitas anak dan berakhir pada Group loses control of the subsidiary. Assets,
saat Kelompok Usaha kehilangan pengendalian liabilities, income and expenses of a subsidiary
atas entitas anak. Aset, liabilitas, penghasilan dan acquired during the year are included in the
beban dari entitas anak yang diakuisisi pada tahun consolidated financial statements from the date
tertentu disertakan dalam laporan keuangan the Group gains control until the date the Group
konsolidasian sejak tanggal Kelompok Usaha ceases to control the subsidiary.
memperoleh kendali sampai tanggal Kelompok
Usaha tidak lagi mengendalikan entitas anak
tersebut.

26

Annual Report 2024 307

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

b. Prinsip-prinsip Konsolidasian (lanjutan) b. Principles of Consolidation (continued)

Seluruh laba rugi dan setiap komponen Profit or loss and each component of other
penghasilan komprehensif lain (“PKL”) comprehensive income (“OCI”) are attributed to
diatribusikan pada pemilik entitas induk dan pada the equity holders of the parent of the Group and
kepentingan nonpengendali (“KNP”), walaupun hal to the non-controlling interests (“NCI”), even if
ini akan menyebabkan saldo KNP yang defisit. Bila this results in the NCI having a deficit balance.
dipandang perlu, penyesuaian dilakukan terhadap When necessary, adjustments are made to the
laporan keuangan entitas anak untuk diselaraskan financial statements of subsidiaries to bring their
dengan kebijakan akuntansi Kelompok Usaha. accounting policies into line with the Group’s
accounting policies.

Seluruh aset dan liabilitas, ekuitas, penghasilan All intra-group assets and liabilities, equity,
dan beban dan arus kas atas transaksi antar income, expenses and cash flows relation to
anggota Kelompok Usaha dieliminasi sepenuhnya transactions between members of the Group are
pada saat konsolidasi. eliminated in full on consolidation.

Perubahan dalam bagian kepemilikan entitas A change in the parent’s ownership interest in
induk pada entitas anak yang tidak mengakibatkan a subsidiary, without a loss of control, is
hilangnya pengendalian, dicatat sebagai transaksi accounted for as an equity transaction. If the
ekuitas. Bila kehilangan pengendalian atas Group loses control over a subsidiary, it
suatu entitas anak, maka Kelompok Usaha derecognizes the related assets (including
menghentikan pengakuan atas aset (termasuk goodwill), liabilities, NCI, and other components
goodwill), liabilitas dan komponen lain dari ekuitas of equity, while the difference is recognized in the
terkait, dan selisihnya diakui pada laba rugi. profit or loss. Any investment retained is
Bagian dari investasi yang tersisa diakui pada nilai recognized at fair value.
wajar.

c. Transaksi dan Penjabaran Laporan Keuangan c. Foreign Currency Transactions and

dalam Mata Uang Asing Translation

Mata uang pelaporan yang digunakan pada The reporting currency used in the consolidated
laporan keuangan konsolidasian adalah Rupiah, financial statements is Indonesian Rupiah, which
yang juga merupakan mata uang fungsional is also each entity’s in the Group functional
setiap entitas dalam Kelompok Usaha, kecuali currency, except for certain subsidiaries, namely
entitas anak tertentu, yaitu JTT yang memiliki JTT whose functional currency is United States
mata uang fungsional Dolar Amerika Serikat Dollar (“US Dollar”). Each entity in the Group
(“Dolar AS”). Tiap entitas dalam Kelompok Usaha determines its own functional currency and their
menentukan mata uang fungsionalnya masing- financial statements are measured using that
masing dan laporan keuangannya masing-masing functional currency.
diukur menggunakan mata uang fungsional
tersebut.

Transaksi dalam mata uang asing dicatat dalam Transactions involving foreign currencies are
Rupiah berdasarkan kurs yang berlaku pada saat recorded in Indonesian Rupiah at the rates of
transaksi dilakukan. Pada tanggal pelaporan, exchange prevailing at the time the transactions
aset dan liabilitas moneter dalam mata uang are made. At the reporting date, monetary
asing dijabarkan sesuai dengan rata-rata kurs jual assets and liabilities denominated in foreign
dan beli yang diterbitkan oleh Bank Indonesia currencies are adjusted to reflect the average of
pada tanggal transaksi perbankan terakhir untuk the selling and buying rates of exchange
periode yang bersangkutan, dan laba atau rugi prevailing at the last banking transaction date of
kurs yang timbul, dikreditkan atau dibebankan the period, as published by Bank Indonesia, and
pada operasi periode yang bersangkutan. any resulting gains or losses are credited or
charged to operations of the current period.

27

308 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

c. Transaksi dan Penjabaran Laporan Keuangan c. Foreign Currency Transactions and

dalam Mata Uang Asing (lanjutan) Translation (continued)

Pada tanggal 31 Desember 2024, nilai tukar yang At December 31, 2024, the rate of exchange
digunakan untuk 1 Dolar Amerika Serikat used for United States Dollar (“US$”), refer to
(“US$”), mengacu pada Jakarta Interbank Spot Jakarta Interbank Spot Dollar Rate
Dollar Rate (“JISDOR”) 1 US$ adalah sebesar (“JISDOR”), 1 US$ was Rp16,162
Rp16.162 (31 Desember 2023: Rp15.416). (December 31, 2023: Rp15,416).

Transaksi dalam mata uang asing selain Transactions in foreign currencies other than
Dolar AS adalah tidak signifikan. US Dollar are not significant.

Untuk tujuan penyajian laporan keuangan For consolidation purposes, the accounts of
konsolidasian, akun-akun Entitas Anak tersebut those Subsidiaries are translated into Rupiah
dijabarkan ke dalam Rupiah dengan using the following mechanism:
menggunakan mekanisme berikut:
· aset dan liabilitas dijabarkan dengan · assets and liabilities are translated using
menggunakan kurs pada tanggal pelaporan; exchange rate at reporting date;
· pendapatan dan beban dijabarkan dengan · revenues and expenses are translated at
menggunakan kurs rata-rata periode the average rates of exchange for the
berjalan; period;
· akun ekuitas dijabarkan dengan · equity accounts are translated at
menggunakan kurs historis; dan historical rates; and
· selisih kurs yang terjadi disajikan pada akun · any resulting foreign exchange is
“Selisih Kurs karena Penjabaran Laporan presented as “Exchange Difference Due
Keuangan” di ekuitas. to Translation of Financial Statements” in
the equity.

d. Transaksi Pihak Berelasi d. Transactions with Related Parties

Kelompok Usaha memiliki transaksi dengan The Group has transactions with related
pihak berelasi sebagaimana yang didefinisikan parties as defined under PSAK 224, “Related
dalam PSAK 224, “Pengungkapan Pihak-pihak Party Disclosures”.
Berelasi”.

Transaksi ini dilakukan berdasarkan persyaratan The transactions are made based on terms
yang disetujui oleh kedua belah pihak, yang agreed by the parties, which may not be the
mungkin tidak sama dengan transaksi lain yang same as those made with unrelated parties.
dilakukan dengan pihak-pihak yang tidak
berelasi.

Transaksi yang signifikan dengan pihak-pihak Significant transactions with related parties
berelasi telah diungkapkan dalam Catatan 32. are disclosed in the Note 32.

Kecuali diungkapkan khusus sebagai pihak Unless specifically identified as related

berelasi, maka pihak-pihak lain yang disebutkan parties, the parties disclosed in the Notes to
dalam Catatan atas laporan keuangan the consolidated financial statements are
konsolidasian merupakan pihak tidak berelasi. unrelated parties.

28

Annual Report 2024 309

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

e. Kas dan Setara Kas e. Cash and Cash Equivalents

Kas dan setara kas dalam laporan posisi Cash and cash equivalents in the statement of
keuangan konsolidasian terdiri dari kas, bank consolidated financial position comprise cash
dan deposito jangka pendek dengan jangka on hand and in banks and short-term deposits
waktu jatuh tempo antara 3 (tiga) bulan atau with an original maturity of 3 (three) months or
kurang pada saat penempatan dan tidak dibatasi less at the time of placements and not
penggunaannya, yang dapat segera restricted to use, that are readily convertible to
dikonversikan menjadi kas dalam jumlah yang a known amount of cash and which are subject
dapat ditentukan dan mana yang memiliki risiko to an insignificant risk of changes in value.
tidak signifikan dari perubahan nilai.

f. Persediaan f. Inventories

Persediaan dinyatakan sebesar nilai terendah Inventories are stated at the lower of cost or
antara biaya perolehan atau nilai realisasi neto. net realizable value. Cost is determined using
Biaya perolehan ditentukan dengan metode first- first-in first-out (“FIFO”) method, except for
in first-out (“FIFO”), kecuali untuk persediaan certain chemical product inventory which uses
produk kimia tertentu yang menggunakan the weighted-average method. Allowance for
metode rata-rata tertimbang (weighted-average inventory obsolescence and decline in the
method). Penyisihan atas persediaan usang dan value of inventories, if any, is provided to
penurunan nilai persediaan, jika ada, dibentuk reduce the carrying value of inventories to their
untuk mengurangi nilai tercatat persediaan net realizable value.
menjadi nilai realisasi neto.

Nilai realisasi neto adalah estimasi nilai jual Net realizable value is the estimated selling
dalam transaksi usaha normal dikurangi dengan price in the ordinary course of business, less
estimasi biaya untuk penyelesaian dan biaya estimated costs of completion and costs
untuk menjual produk yang bersangkutan. necessary to make the sale.

Nilai persediaan terdiri dari seluruh nilai Cost of inventories comprises purchase costs
pembelian dan biaya terkait untuk memproses and the related processing costs incurred in
sampai dengan persediaan berada dalam bringing the inventories to their present
kondisi dan tempat yang siap digunakan atau location and condition.
dijual.

g. Biaya Dibayar di Muka g. Prepaid Expenses

Biaya dibayar di muka diamortisasi selama Prepaid expenses are amortized over their
manfaat masing-masing biaya dengan beneficial periods using the straight-line
menggunakan metode garis lurus. method.

h. Investasi pada Entitas Asosiasi h. Investments in Associates

Entitas asosiasi adalah entitas yang terhadapnya An associate is an entity over which the Group
Kelompok Usaha memiliki pengaruh signifikan. has significant influence. Significant influence
Pengaruh signifikan adalah kekuasaan untuk is the power to participate in the financial and
berpartisipasi dalam keputusan kebijakan policy decisions of the investee, but is not
keuangan dan operasional investee, tetapi tidak control or joint control over those policies.
mengendalikan atau mengendalikan bersama
atas kebijakan tersebut.

29

310 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

h. Investasi pada Entitas Asosiasi (lanjutan) h. Investments in Associates (continued)

Pertimbangan yang dibuat dalam menentukan The considerations made in determining

pengaruh signifikan adalah serupa dengan hal- significant influence are similar to those
hal yang diperlukan dalam menentukan kendali necessary to determine control over
atas entitas anak. subsidiaries.

Investasi Kelompok Usaha pada entitas asosiasi The Group’s investment in its associate is
dicatat dengan menggunakan metode ekuitas. accounted for using the equity method. Under
Dalam metode ekuitas, investasi awalnya diakui the equity method, the investment in an
pada harga perolehan. Nilai tercatat investasi associate is initially recognized at cost. The
disesuaikan untuk mengakui perubahan bagian carrying amount of the investment is adjusted
Kelompok Usaha atas aset neto entitas asosiasi to recognize changes in the Group’s share of
sejak tanggal perolehan. net assets of the associate since the
acquisition date.

Laporan laba rugi dan penghasilan komprehensif The consolidated statements of profit or loss
lain konsolidasian mencerminkan bagian and other comprehensive income reflect the
Kelompok Usaha atas hasil operasi dari entitas Group’s share of the results of operations of
asosiasi. Bila terdapat perubahan yang diakui the associates. Where there has been a
langsung pada ekuitas dari entitas asosiasi, change recognized directly in the equity of the
Kelompok Usaha mengakui bagiannya atas associates, the Group recognizes its share of
perubahan tersebut dan mengungkapkan hal ini, any such changes and discloses this, when
jika relevan dalam laporan perubahan ekuitas. applicable, in the statement of changes in
Laba atau rugi yang belum direalisasi sebagai equity. Unrealized gains and losses resulting
hasil dari transaksi-transaksi antara Kelompok from transactions between the Group and the
Usaha dengan entitas asosiasi dieliminasi pada associate are eliminated to the extent of the
jumlah sesuai dengan kepentingan Kelompok Group’s interest in those associates.
Usaha dalam entitas asosiasi.

Gabungan bagian Kelompok Usaha atas laba The aggregate of the Group’s share of profit or
rugi entitas asosiasi disajikan pada muka laporan loss of an associate is shown on the face of
laba rugi dan penghasilan komprehensif lain the consolidated statement of profit or loss and
konsolidasian (sebagai laba atau rugi) di luar other comprehensive income (as profit or loss)
laba usaha dan mencerminkan laba atau rugi outside operating profit and represents profit
setelah pajak dan kepentingan nonpengendali or loss after tax and NCI in the subsidiaries of
pada entitas anak dari entitas asosiasi. the associate.

Laporan keuangan entitas asosiasi disusun atas The financial statements of the associates are
periode pelaporan yang sama dengan Kelompok prepared for the same reporting period as the
Usaha. Group.

Kelompok Usaha menentukan apakah The Group determines whether it is necessary

diperlukan untuk mengakui tambahan rugi to recognize an additional impairment loss on
penurunan nilai atas investasi Kelompok Usaha the Group’s investments in its associates. The
dalam entitas asosiasi. Kelompok Usaha Group determines at each reporting date
menentukan pada setiap tanggal pelaporan whether there is any objective evidence that
apakah terdapat bukti yang obyektif yang the investments in the associates are
mengindikasikan bahwa investasi dalam entitas impaired. If this is the case, the Group
asosiasi mengalami penurunan nilai. Dalam hal calculates the amount of impairment as the
ini, Kelompok Usaha menghitung jumlah difference between the recoverable amounts
penurunan nilai berdasarkan selisih antara of the investments in associates and their
jumlah terpulihkan atas investasi dalam entitas carrying values and recognizes the amount in
asosiasi dan nilai tercatatnya dan mengakuinya profit or loss.
dalam laba rugi.

30

Annual Report 2024 311

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

h. Investasi pada Entitas Asosiasi (lanjutan) h. Investments in Associates (continued)

Pada saat kehilangan pengaruh signifikan atas Upon loss of significant influence over the
entitas asosiasi, Kelompok Usaha mengukur dan associate, the Group measures and
mengakui bagian investasi tersisa pada nilai recognizes any retained investment at its fair
wajar. Selisih antara nilai tercatat entitas asosiasi value. Any difference between the carrying
dan nilai wajar investasi yang tersisa dan amount of the associate and the fair value of
penerimaan dari pelepasan investasi diakui pada the retained investment and proceeds from
laba rugi. disposal is recognized in profit or loss.

i. Aset Tetap i. Property, Plant and Equipment

Aset tetap dinyatakan sebesar biaya perolehan Property, plant and equipment are stated at
dikurangi akumulasi penyusutan dan rugi cost less accumulated depreciation and
penurunan nilai. Biaya perolehan termasuk biaya impairment losses. Such costs include the
penggantian bagian aset tetap saat biaya cost of replacing part of the property, plant and
tersebut terjadi, jika memenuhi kriteria equipment when that cost is incurred, if the
pengakuan. Selanjutnya, pada saat inspeksi recognition criteria are met. Likewise, when
yang signifikan dilakukan, biaya inspeksi itu a major inspection is performed, its cost is
diakui ke dalam jumlah tercatat (“carrying recognized in the carrying amount of the
amount”) aset tetap sebagai suatu penggantian property, plant and equipment as
jika memenuhi kriteria pengakuan. Semua biaya a replacement if the recognition criteria are
perbaikan dan pemeliharaan yang tidak satisfied. All other repairs and maintenance
memenuhi kriteria pengakuan diakui dalam laba costs that do not meet the recognition criteria
rugi pada saat terjadinya. are recognized in profit or loss as incurred.

Penyusutan dihitung dengan menggunakan Depreciation is computed using the straight-

metode garis lurus berdasarkan estimasi masa line method based on the estimated useful
manfaat ekonomis aset tetap sebagai berikut: lives of the property, plant and equipment as
follows:

Tahun/ Persentase/
Years Percentage
Buildings, jetty,
Bangunan, dermaga, gudang dan warehouses and
tangki penyimpanan 5-24 4,2%-20,0% storage tanks
Mesin dan peralatan 3-20 5,0%-33,3% Machineries and equipment
Peralatan gudang dan peralatan Warehouse and port
pembongkaran di pelabuhan 5-20 5,0%-20,0% handling equipment
Kendaraan 2-10 10,0%-50,0% Vehicles
Pengembangan gedung yang Leasehold and building
disewa dan renovasi gedung 5-20 5,0%-20,0% improvements
Peralatan kantor 3-10 10,0%-33,3% Office equipment
Kapal 20-30 3,3%-5,0% Vessels

31

312 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

i. Aset Tetap (lanjutan) i. Property, Plant and Equipment (continued)

Beban pemeliharaan dan perbaikan Repairs and maintenance expenses are taken
dibebankan pada laba rugi pada saat terjadinya. to the profit or loss when they are incurred.
Beban pemugaran dan penambahan dalam The cost of major renovation and restoration is
jumlah besar dikapitalisasi kepada jumlah included in the carrying amount of the related
tercatat aset terkait bila besar kemungkinan asset when it is probable that future economic
bagi Kelompok Usaha manfaat ekonomi masa benefits in excess of the originally assessed
depan menjadi lebih besar dari standar kinerja standard of performance of the existing asset
awal yang ditetapkan sebelumnya dan will flow to the Group and is depreciated over
disusutkan sepanjang sisa masa manfaat aset the remaining useful life of the related asset.
terkait.

Tanah termasuk biaya pengurusan legal hak Land, including legal cost of land rights in the
atas tanah dalam bentuk Hak Guna Usaha form of Right to Cultivate (“Hak Guna Usaha”
(“HGU”), Hak Guna Bangunan (“HGB”) dan Hak or “HGU”), Right to Build (“Hak Guna
Pakai (“HP”) ketika tanah diperoleh pertama kali Bangunan” or “HGB”) and Right to Use
dinyatakan sebesar biaya perolehan dan tidak (“Hak Pakai” or “HP”) when the land rights
diamortisasi karena manajemen berpendapat were acquired initially, is stated at cost and not
bahwa kemungkinan besar hak atas tanah amortized as the management is of the opinion
tersebut dapat diperbaharui/diperpanjang pada that it is probable the titles of land rights can
saat masa berlakunya selesai. be renewed/extended upon expiration.

Biaya pengurusan atas perpanjangan atau The extension or the legal renewal costs of
pembaruan legal hak atas tanah dalam bentuk land rights in the form of HGU, HGB and HP
HGU, HGB dan HP ditangguhkan dan are deferred and amortized over the shorter
diamortisasi yang lebih pendek antara umur between the land rights' legal life and the
hukum hak atas tanah dan umur ekonomi tanah, economic life of the land, and presented as
dan disajikan sebagai bagian dari akun “Aset part of “Other Non-current Assets” account
Tidak Lancar Lainnya” pada laporan posisi in the consolidated statement of financial
keuangan konsolidasian. position.

Bila nilai tercatat suatu aset melebihi taksiran When the carrying amount of an asset
jumlah yang dapat diperoleh kembali (estimated exceeds its estimated recoverable amount,
recoverable amount) maka nilai tersebut the asset is written down to its estimated
diturunkan ke jumlah yang dapat diperoleh recoverable amount, which is determined as
kembali tersebut, yang ditentukan sebagai nilai the higher of net selling price or value in use
tertinggi antara harga jual neto atau nilai pakai (Note 2u).
(Catatan 2u).
Jumlah tercatat aset tetap dihentikan An item of property, plant and equipment is
pengakuannya pada saat dilepaskan atau saat derecognized upon disposal or when no future
tidak ada manfaat ekonomis masa depan yang economic benefits are expected from its use or
diharapkan dari penggunaan atau disposal. Any gain or loss arising on
pelepasannya. Laba atau rugi yang timbul dari derecognition of the asset (calculated as the
penghentian pengakuan aset (dihitung sebagai difference between the net disposal proceeds
perbedaan antara jumlah neto hasil pelepasan and the carrying amount of the asset) is
dan jumlah tercatat dari aset) dimasukkan dalam included in profit or loss in the year the asset
laba rugi pada tahun aset tersebut dihentikan is derecognized.
pengakuannya.

Pada setiap akhir tahun buku, nilai residu, umur The assets’ residual values, useful lives and
manfaat dan metode penyusutan di-reviu, dan methods of depreciation are reviewed, and
jika sesuai dengan keadaan, disesuaikan secara adjusted prospectively if appropriate, at each
prospektif. financial year end.

32

Annual Report 2024 313

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

i. Aset Tetap (lanjutan) i. Property, Plant and Equipment (continued)

Aset tetap dalam penyelesaian dicatat sebesar Constructions in-progress are stated at cost,
biaya perolehan, yang mencakup kapitalisasi including capitalized borrowing costs and
beban pinjaman dan biaya-biaya lainnya yang other charges incurred in connection with the
terjadi sehubungan dengan pendanaan aset financing of the said asset constructions. The
tetap dalam penyelesaian tersebut. Akumulasi accumulated costs will be reclassified to the
biaya perolehan akan direklasifikasi ke akun appropriate “Property, Plant and Equipment”
“Aset Tetap” yang bersangkutan pada saat aset account when the construction is completed.
tetap tersebut telah selesai dikerjakan dan siap Assets under construction are not depreciated
untuk digunakan. Aset tetap dalam penyelesaian until they fulfill criteria for recognition as
tidak disusutkan sampai memenuhi syarat property, plant and equipment as disclosed
pengakuan sebagai aset tetap seperti above.
diungkapkan di atas.

Kapitalisasi Biaya Pinjaman Capitalization of Borrowing Costs

Biaya pinjaman terdiri dari beban bunga dan Borrowing costs consist of interest expenses
biaya lain yang ditanggung Kelompok Usaha and other financing charges that the Group
sehubungan dengan peminjaman dana. Biaya incurs in connection with the borrowing funds.
pinjaman yang dapat diatribusikan langsung Borrowing costs that are directly attributable to
dengan perolehan, pembangunan atau the acquisition, construction or production of
pembuatan aset kualifikasian dikapitalisasi a qualifying asset are capitalized as part of the
sebagai bagian biaya perolehan aset tersebut. cost of the related asset. All other borrowing
Biaya pinjaman lainnya diakui sebagai beban costs are recognized as expenses when
pada saat terjadi Kelompok Usaha. incurred.

Kapitalisasi biaya pinjaman dimulai pada saat Capitalization of borrowing costs commences
aktivitas yang diperlukan untuk mempersiapkan when the activities to prepare the qualifying
aset agar dapat digunakan sesuai dengan asset for its intended use are in progress and
maksudnya, dan pengeluaran untuk aset the expenditures for the qualifying asset and
kualifikasian dan biaya pinjamannya telah terjadi. the borrowing costs have been incurred.
Kapitalisasi biaya pinjaman dihentikan pada saat Capitalization of borrowing costs ceases when
selesainya secara substansi seluruh aktivitas substantially all the activities necessary to
yang diperlukan untuk mempersiapkan aset prepare the qualifying assets are completed
kualifikasian agar dapat digunakan sesuai for their intended use.
dengan maksudnya.

j. Sewa j. Leases

Pada tanggal permulaan kontrak, Kelompok At the inception of a contract, the Group
Usaha menilai apakah kontrak merupakan, atau assesses whether the contract is, or contains,
mengandung, sewa. Suatu kontrak merupakan a lease. A contract is or contains a lease if the
atau mengandung sewa jika kontrak tersebut contract conveys the right to control the use of
memberikan hak untuk mengendalikan an identified assets for a period of time in
penggunaan aset identifikasian selama suatu exchange for consideration.
jangka waktu untuk dipertukarkan dengan
imbalan.

33

314 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

j. Sewa (lanjutan) j. Leases (continued)

Kelompok Usaha sebagai Penyewa The Group as Lessee

Kelompok Usaha menerapkan pendekatan The Group applies a single recognition and
pengakuan dan pengukuran tunggal untuk measurement approach for all leases, except
semua sewa, kecuali untuk sewa jangka pendek for short-term leases and leases of low-value
dan sewa aset bernilai rendah. Kelompok Usaha assets. The Group recognizes lease liabilities
mengakui liabilitas sewa untuk melakukan to make lease payments and right-of-use
pembayaran sewa dan asset hak-guna yang assets representing the right to use the
mewakili hak untuk menggunakan aset underlying assets.
pendasar.

Aset hak-guna Right-of-use assets

Pada tanggal permulaan sewa, Kelompok Usaha The Group recognizes a right-of-use asset and
mengakui aset hak-guna dan liabilitas sewa. a lease liability at the lease commencement
Aset hak-guna diukur pada biaya perolehan, date. The right-of-use asset is initially
dimana meliputi jumlah pengukuran awal measured at cost, which comprises the initial
liabilitas sewa yang disesuaikan dengan amount of the lease liability adjusted for any
pembayaran sewa yang dilakukan pada atau lease payment made at or before the
sebelum tanggal permulaan, ditambah dengan commencement date, plus any initial direct
biaya langsung awal yang dikeluarkan dan cost incurred and an estimate of costs to
estimasi biaya yang akan dikeluarkan untuk dismantle and remove the underlying asset or
membongkar dan memindahkan aset pendasar to restore the underlying asset to the condition
atau untuk merestorasi aset pendasar sesuai required by the terms and conditions of the
kondisi yang disyaratkan dan ketentuan sewa, lease, less any lease incentives received.
dikurangi dengan insentif sewa yang diterima.

Aset hak-guna kemudian disusutkan The right-of-use asset is subsequently

menggunakan metode garis lurus dari tanggal depreciated using the straight-line method
permulaan hingga tanggal yang lebih awal from the commencement date to the earlier of
antara akhir umur manfaat aset hak-guna atau the end of the useful life of the right-of-use
akhir masa sewa. asset or the end of the lease term.

Tahun/
Years

Tanah 5-30 Land

Bangunan dan tangki 2-5 Building and tanks
Kendaraan 2 Vehicles

Jika sewa mengalihkan kepemilikan aset If the lease transfers the ownership of the
pendasar kepada Kelompok Usaha pada akhir underlying asset to the Group by the end of the
masa sewa atau jika biaya perolehan aset hak- lease term or if the cost of the right-of-use
guna merefleksikan Kelompok Usaha akan asset reflects that the Group will exercise
mengeksekusi opsi beli, maka Kelompok Usaha a purchase option, the Group depreciates the
menyusutkan aset hak-guna dari tanggal right-of-use asset from the commencement
permulaan hingga akhir umur manfaat aset date to the end of the useful life of the
pendasar. Jika tidak, maka Kelompok Usaha underlying asset. Otherwise, the Group
menyusutkan aset hak-guna dari tanggal depreciates the right-of-use asset from the
permulaan hingga tanggal yang lebih awal commencement date to the earlier of the end
antara akhir umur manfaat aset hak-guna atau of the useful life of the right-of-use asset or the
akhir masa sewa. Aset hak-guna juga dievaluasi end of the lease term. The right-of-use assets
untuk penurunan nilai (Note 2u). are also assessed for impairment (Note 2u).

34

Annual Report 2024 315

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

j. Sewa (lanjutan) j. Leases (continued)

Kelompok Usaha sebagai Penyewa (lanjutan) The Group as Lessee (continued)

Liabilitas sewa Lease liabilities

Pada tanggal permulaan sewa, Kelompok Usaha At the commencement date of the lease, the
mengakui liabilitas sewa yang diukur pada nilai Group recognizes lease liabilities measured at
kini pembayaran sewa yang harus dilakukan the present value of lease payments to be
selama masa sewa. made over the lease term.

Pembayaran sewa juga mencakup harga The lease payments also include the exercise
pelaksanaan dari opsi beli yang secara wajar price of a purchase option reasonably certain
pasti dilaksanakan oleh Kelompok Usaha dan to be exercised by the Group and payments of
pembayaran pinalti untuk mengakhiri sewa, jika penalties for terminating the lease, if the lease
masa sewa merefleksikan adanya opsi dapat term reflects exercising the option to
mengakhiri sewa. Pembayaran sewa variabel terminate. Variable lease payments that do not
yang tidak bergantung pada indeks atau tarif depend on an index or a rate are recognized
diakui sebagai beban pada periode terjadinya as expenses in the period in which the event
peristiwa atau kondisi yang memicu terjadinya or condition that triggers the payment occurs.
pembayaran tersebut.

Dalam menghitung nilai kini pembayaran sewa, In calculating the present value of lease
Kelompok Usaha menggunakan Suku Bunga payments, the Group uses its Incremental
Pinjaman Inkremental (“SBPI”) pada tanggal Borrowing Rate (“IBR”) at the lease
permulaan sewa karena suku bunga implisit commencement date because the interest rate
dalam sewa tidak dapat langsung ditentukan. implicit in the lease is not readily determinable.
Setelah tanggal permulaan, jumlah kewajiban After the commencement date, the amount of
sewa ditingkatkan untuk mencerminkan akresi lease liabilities is increased to reflect the
bunga (atas efek diskonto) dan dikurangi untuk accretion of interest and reduced for the lease
pembayaran sewa yang dilakukan. Selain itu, payments made. In addition, the carrying
nilai tercatat liabilitas sewa diukur kembali jika amount of lease liabilities is remeasured if
terdapat modifikasi, perubahan masa sewa, there is a modification, a change in the lease
perubahan pembayaran sewa, atau perubahan term, a change in the lease payments or a
penilaian atas opsi untuk membeli aset change in the assessment of an option to
pendasar. purchase the underlying asset.

Sewa jangka-pendek dan sewa dengan aset Short-term leases and leases of low-value
bernilai rendah assets

Kelompok Usaha menerapkan pengecualian The Group applies the short-term lease
pengakuan sewa jangka pendek yang memiliki recognition exemption to its leases that have a
jangka waktu sewa 12 bulan atau kurang, dari lease term of 12 months or less from the
tanggal permulaan dan tidak mengandung opsi commencement date and do not contain a
beli. Kelompok Usaha juga menerapkan purchase option. The Group also applies the
pengecualian pengakuan sewa dengan aset lease of low-value assets recognition
bernilai rendah untuk sewa yang aset exemption to leases that are considered to be
pendasarnya dianggap bernilai rendah. low value. The Group recognizes the leases
Kelompok Usaha mengakui pembayaran sewa payments associated with these short-term
atas sewa jangka pendek tersebut sebagai leases as an expense on a straight-line basis
beban dengan metode garis lurus selama masa over the lease term.
sewa.

35

316 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

j. Sewa (lanjutan) j. Leases (continued)

Kelompok Usaha sebagai Pesewa The Group as Lessor

Sewa di mana Kelompok Usaha tidak Leases in which the Group does not transfer
mengalihkan secara substansial seluruh risiko substantially all the risks and rewards
dan manfaat yang terkait dengan kepemilikan incidental to ownership of an asset are
suatu aset diklasifikasikan sebagai sewa classified as operating leases. Lease income
operasi. Pendapatan sewa yang timbul dicatat arising is accounted for on a straight-line basis
dengan metode garis lurus selama masa sewa over the lease terms and is included in
dan dimasukkan dalam pendapatan dalam revenue in the consolidated statement of profit
laporan laba rugi dan penghasilan komprehensif or loss and other comprehensive income due
lain konsolidasian karena sifat operasinya. Biaya to its operating nature. Initial direct costs
perolehan langsung awal yang timbul dalam incurred in negotiating and arranging an
negosiasi dan pengaturan sewa operasi operating lease are added to the carrying
ditambahkan ke nilai tercatat aset sewaan dan amount of the leased asset and recognized
diakui selama masa sewa atas dasar yang sama over the lease term on the same basis as
dengan pendapatan sewa. Sewa kontinjensi lease income. Contingent rents are
diakui sebagai pendapatan pada periode recognized as revenue in the period in which
perolehannya. they are earned.

k. Persediaan Tanah Kawasan Industri k. Industrial Estate Land Inventory

Persediaan tanah kawasan industri terdiri dari The industrial estate land consists of inventory
tanah yang siap untuk dijual, sedang dalam of land available for sale, under development
tahap pengembangan dan yang akan and land to be developed into industrial estate
dikembangkan menjadi kawasan industri yang as part of the Java Integrated Industrial and
menjadi bagian dari Kawasan Industri dan Ports Estate (“JIIPE” project) (Note 13) which
Pelabuhan Jawa Terpadu (proyek “JIIPE”) will be available for sale upon completion. The
(Catatan 13) yang akan tersedia untuk dijual land acquisition costs are stated at the lower
pada saat selesai pengembangan. Biaya-biaya of cost or net realizable value.
akuisisi tanah dinyatakan sebesar nilai yang
lebih rendah antara biaya perolehan dan nilai
realisasi neto.

Biaya perolehan tanah yang sedang The costs of land under development consist
dikembangkan meliputi biaya perolehan tanah of the costs of land for development
pengembangan (termasuk biaya praakuisisi (including relevant preacquisition costs), direct
tanah yang relevan), biaya pengembangan development costs, capitalized borrowing
langsung, kapitalisasi biaya pinjaman dan biaya costs and other indirect costs that are
tidak langsung lainnya yang dapat diatribusikan attributable to the development of such land
pada pengembangan tanah persediaan tersebut. inventory. The accumulated costs shall be
Akumulasi biaya-biaya tersebut akan transferred to land inventory available for sale
dipindahkan ke tanah yang tersedia untuk dijual or to relevant property, plant, and equipment
atau ke akun aset tetap terkait pada saat account when they are deemed to be need for
dianggap perlu untuk operasi secara internal operating internaly when the development of
pada saat pengembangan tanah telah selesai. such land has been completed.

36

Annual Report 2024 317

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)
k. Persediaan Tanah Kawasan Industri k. Industrial Estate Land Inventory
(lanjutan) (continued)

Biaya pinjaman, termasuk biaya pinjaman yang Borrowing costs, including those arising from
timbul dari pinjaman Kelompok Usaha yang Group’s borrowings which met the provision in
memenuhi ketentuan dalam PSAK 223 untuk PSAK 223 for such circumstances, capitalized
kondisi tersebut, yang dikapitalisasi sebagai as part of the carrying amount of land under
bagian dari nilai tercatat tanah dalam development are those relating to debts
pengembangan adalah biaya pinjaman obtained to finance the acquisition and
sehubungan dengan pinjaman yang diperoleh development of the land during the
untuk membiayai perolehan dan pengembangan development stage. Capitalization ceases
tanah selama tahap pengembangan. Kapitalisasi when the development of the land is deferred
dihentikan pada saat pengembangan proyek or postponed or when activities to develop the
ditangguhkan atau ditunda pelaksanaannya atau land for its intended use are substantially
pada saat proses pengembangan tanah tersebut completed.
sesuai dengan tujuannya secara substansial
telah selesai.

Persediaan tanah kawasan industri yang siap The industrial estate land inventory available
untuk dijual dan sedang dalam tahap for sale and under development are classified
pengembangan diklasifikasikan sebagai aset as current asset as it is intended for sale in a
lancar karena dimaksudkan untuk dijual dalam normal operation cycle while land inventory for
siklus operasi normal, sedangkan tanah yang future development is classified as part of
akan dikembangkan diklasifikasikan sebagai non-current asset.
aset tidak lancar.

l. Properti Investasi l. Investment Property

Properti investasi diukur pada biaya perolehan, Investment properties are measured at cost,
termasuk biaya transaksi. including transaction costs.

Properti investasi dihentikan pengakuannya baik Investment properties are derecognized either
saat dilepas (yaitu, pada tanggal penerima when they have been disposed of (i.e., at the
memperoleh kendali) atau ketika tidak digunakan date the recipient obtains control) or when they
lagi secara permanen dan tidak memiliki manfaat are permanently withdrawn from use and no
ekonomis masa depan yang diharapkan dari future economic benefit is expected from their
pelepasannya. Selisih antara hasil neto disposal. The difference between the net
pelepasan dan nilai tercatat aset diakui dalam disposal proceeds and the carrying amount of
laba rugi pada periode terjadinya penghentian the asset is recognized in profit or loss in the
pengakuan. Dalam menentukan jumlah imbalan period of derecognition. In determining the
dari penghentian pengakuan properti investasi, amount of consideration from the
Kelompok Usaha mempertimbangkan dampak derecognition of investment property the
dari imbalan variabel, keberadaan komponen Group considers the effects of variable
pembiayaan yang signifikan, imbalan non-kas, consideration, existence of a significant
dan imbalan yang harus dibayar kepada pembeli financing component, non-cash consideration,
(jika ada). and consideration payable to the buyer (if
any).

37

318 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)
l. Properti Investasi (lanjutan) l. Investment Property (continued)

Pengalihan dilakukan ke (atau dari) properti Transfers are made to (or from) investment
investasi hanya jika terdapat perubahan property only when there is a change in use.
penggunaan. Untuk pengalihan dari properti For a transfer from investment property to
investasi ke properti yang digunakan sendiri, owner-occupied property, the deemed cost for
biaya yang dianggap untuk akuntansi subsequent accounting is the fair value at the
selanjutnya adalah nilai wajar pada tanggal date of change in use. If owner-occupied
perubahan penggunaan. Jika properti yang property becomes an investment property, the
digunakan sendiri menjadi properti investasi, Group accounts for such property in
Kelompok Usaha memperhitungkan properti accordance with the policy stated under
tersebut sesuai dengan kebijakan yang property, plant and equipment up to the date
tercantum dalam aset tetap sampai dengan of change in use.
tanggal perubahan yang digunakan.

m. Biaya Emisi Saham dan Obligasi m. Share and Bonds Issuance Costs

Biaya emisi saham disajikan sebagai bagian dari Share issuance costs are presented as part of
tambahan modal disetor dan tidak disusutkan. additional paid-in capital and are not
amortized.

Biaya emisi obligasi disajikan neto terhadap Bonds issuance costs are presented net
hutang obligasi dan diamortisasi selama masa against the bonds payable and amortized over
obligasi menggunakan metode suku bunga the term of the bonds using effective interest
efektif (lihat Catatan 2t terkait dengan kebijakan rate method (refer to Note 2t related to
akuntansi untuk liabilitas keuangan yang diukur accounting policies for financial liabilities
pada biaya perolehan diamortisasi). measured at amortized cost).

n. Imbalan Pasca Kerja n. Post-Employment Benefits

Perusahaan dan Entitas Anaknya di Indonesia The Company and its Subsidiaries in
memberikan imbalan pasca kerja imbalan pasti Indonesia provide defined post-employment
untuk karyawan sesuai dengan Peraturan benefits to their employees in accordance with
Perundang-undangan yang berlaku serta, the prevailing Laws and Regulation and the
peraturan Perusahaan (Catatan 29). Tidak Company’s regulation (Note 29). No funding
terdapat pendanaan yang disisihkan has been made to this defined benefit plan.
sehubungan dengan imbalan pasca kerja ini.

Kelompok Usaha menerapkan PSAK 219, The Group adopted PSAK 219,
“Imbalan Pasca Kerja” dan perhitungan imbalan “Post-Employment Benefits” and the cost of
pasca kerja menggunakan metode Projected providing post-employment benefits is
Unit Credit. Keuntungan atau kerugian aktuarial determined using the Projected Unit Credit
yang timbul diakui sebagai Penghasilan method. The actuarial gains or lossess
Komprehensif Lain dan disajikan pada bagian incurred are recognized in Other
ekuitas. Biaya jasa lalu dibebankan langsung Comprehensive Income and is presented in
pada laba rugi. the equity section. Past service cost is
recognized immediately to profit or loss.

Jumlah yang diakui sebagai kewajiban imbalan The benefit obligation recognized in the
pasti di laporan posisi keuangan konsolidasian consolidated statements of financial position
merupakan nilai kini kewajiban imbalan pasti. represents the present value of the defined
benefit obligation.

38

Annual Report 2024 319

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)
n. Imbalan Pasca Kerja (lanjutan) n. Post-Employment Benefits (continued)
Mulai 1 Januari 2022, berdasarkan siaran pers Starting from January 1, 2022, based on the
atas persyaratan pengatribusian imbalan pada press release regarding attribution of benefits
periode jasa sesuai PSAK 219: Imbalan Kerja, to periods of service in accordance with PSAK
Kelompok Usaha telah mengatribusikan imbalan 219: Employee Benefits, the Group attributes
tanggal ketika jasa pekerja pertama kali benefits when employee service first leads to
menghasilkan imbalan dalam program sampai benefits under the plan until the date when
dengan tanggal ketika jasa pekerja selanjutnya further employee service will lead to no
tidak akan menghasilkan jumlah imbalan yang material amount of further benefits under the
material dibawah program tersebut. plan.
o. Pembayaran berbasis saham o. Share-based payments
Karyawan yang berhak (termasuk eksekutif Eligible employees (including senior
senior) Kelompok Usaha menerima remunerasi executives) of the Group receive remuneration
dalam bentuk pembayaran berbasis saham, di in the form of share-based payments, whereby
mana karyawan memberikan jasa sebagai employees render services as consideration
imbalan dalam bentuk instrumen ekuitas for equity instruments (equity-settled
(transaksi yang diselesaikan dengan ekuitas). transactions).

Biaya transaksi yang diselesaikan dengan The cost of equity-settled transactions is

ekuitas ditentukan oleh nilai wajar pada tanggal determined by the fair value at the date when
pemberian diberikan dengan menggunakan the grant is made using an appropriate
model penilaian yang sesuai, rincian lebih lanjut valuation model, further details of which are
diberikan dalam Catatan 21. given in Note 21.

Biaya tersebut diakui dalam beban umum dan That cost is recognized in general and
administrasi, bersama-sama dengan administrative expenses, together with a
peningkatan ekuitas (tambahan modal disetor), corresponding increase in equity (additional
selama periode jasa dan, jika berlaku, kondisi paid-in capital), over the period in which the
kinerja terpenuhi (periode vesting). Beban service and, where applicable, the
kumulatif yang diakui untuk transaksi yang performance conditions are fulfilled (the
diselesaikan dengan ekuitas pada setiap tanggal vesting period). The cumulative expense
pelaporan hingga tanggal vesting mencerminkan recognized for equity-settled transactions at
each reporting date until the vesting date
sejauh mana periode vesting telah berakhir dan
reflects the extent to which the vesting period
estimasi terbaik Kelompok Usaha atas jumlah
has expired and the Group’s best estimate of
instrumen ekuitas yang pada akhirnya akan the number of equity instruments that will
menjadi vest. Beban atau kredit dalam laporan ultimately vest. The expense or credit in the
laba rugi suatu periode merupakan pergerakan statement of profit or loss for a period
beban kumulatif yang diakui pada awal dan akhir represents the movement in cumulative
periode tersebut. expense recognized as at the beginning and
end of that period.

Kondisi layanan dan kinerja non-pasar tidak Service and non-market performance
diperhitungkan saat menentukan nilai wajar conditions are not taken into account when
tanggal pemberian penghargaan, tetapi determining the grant date fair value of
kemungkinan kondisi terpenuhi dinilai sebagai awards, but the likelihood of the conditions
bagian dari estimasi terbaik Kelompok Usaha being met is assessed as part of the Group’s
atas jumlah instrumen ekuitas yang pada best estimate of the number of equity
akhirnya akan menjadi hak. instruments that will ultimately vest.

39

320 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)
o. Pembayaran berbasis saham (lanjutan) o. Share-based payments (continued)

Kondisi kinerja pasar tercermin dalam nilai wajar Market performance conditions are reflected
tanggal pemberian. Setiap kondisi lain yang within the grant date fair value. Any other
melekat pada penghargaan, tetapi tanpa conditions attached to an award, but without
persyaratan layanan terkait, dianggap sebagai an associated service requirement, are
kondisi non-vesting. Kondisi non-vesting considered to be non-vesting conditions. Non-
tercermin dalam nilai wajar penghargaan dan vesting conditions are reflected in the fair
mengarah pada pengeluaran langsung value of an award and lead to an immediate
penghargaan kecuali ada juga layanan dan/atau expensing of an award unless there are also
kondisi kinerja. service and/or performance conditions.

Tidak ada beban yang diakui untuk penghargaan No expense is recognized for awards that do
yang pada akhirnya tidak menjadi hak karena not ultimately vest because non-market
kinerja non-pasar dan/atau kondisi layanan performance and/or service conditions have
belum terpenuhi. not been met.

p. Provisi p. Provision
Provisi diakui jika Kelompok Usaha memiliki Provisions are recognized when the Group
liabilitas kini (baik bersifat hukum maupun has a present obligation (legal or constructive)
bersifat konstruktif) yang akibat peristiwa masa as a result of a past event, it is probable that
lalu, besar kemungkinannya penyelesaian an outflow of resources embodying economic
liabilitas tersebut mengakibatkan arus keluar benefits will be required to settle the obligation
sumber daya yang mengandung manfaat and a reliable estimate can be made of the
ekonomi dan estimasi yang andal mengenai amount of the obligation.
jumlah liabilitas tersebut dapat dibuat.
Provisi ditelaah pada setiap tanggal pelaporan Provisions are reviewed at each reporting date
dan disesuaikan untuk mencerminkan estimasi and adjusted to reflect the current best
terbaik yang paling kini. Jika arus keluar sumber estimate. If it is no longer probable that an
daya untuk menyelesaikan liabilitas outflow of resources embodying economic
kemungkinan besar tidak terjadi, maka provisi benefits will be required to settle the obligation,
dibatalkan. the provision is reversed.
Provisi untuk biaya pembongkaran aset Provision for asset dismantling costs is
diestimasi berdasarkan beberapa asumsi dan estimated based on certain assumptions and
disajikan pada nilai wajar sesuai dengan tingkat carried at fair value based on applicable
diskonto yang berlaku. discount rates.
q. Saham Treasuri q. Treasury Shares
Instrumen ekuitas sendiri yang diperoleh kembali Own equity instruments that are reacquired
(saham treasuri) diakui pada harga perolehan (treasury shares) are recognized at cost and
kembali dan dikurangi dari ekuitas. Tidak ada deducted from equity. No gain or loss is
laba rugi yang diakui pada laba rugi atas recognized in profit or loss on the purchase,
perolehan, penjualan kembali, penerbitan atau sale, issue or cancellation of the Group’s own
pembatalan dari instrumen ekuitas Kelompok equity instruments. Any difference between
Usaha. Selisih antara jumlah tercatat dan the carrying amount and the consideration, if
penerimaan, bila diterbitkan kembali, diakui reissued, is recognized as part of additional
sebagai bagian dari tambahan modal disetor paid-in capital in the equity.
pada ekuitas.

40

Annual Report 2024 321

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

r. Pendapatan dari Kontrak dengan Pelanggan r. Revenue from Contracts with Customers
dan Pengakuan Beban and Recognition of Expenses

Pendapatan dari kontrak dengan pelanggan Revenue from contracts with customers

Penjualan diakui ketika Kelompok Usaha Sales are recognized when the Group satisfies
memenuhi kewajiban pelaksanaan (performance a performance obligation by transferring a
obligation) dengan mentransfer barang atau jasa promised good or service to the customer,
yang dijanjikan kepada pelanggan, yaitu ketika which is when the customer obtains control of
pelanggan memperoleh pengendalian atas the good or service. A performance obligation
barang atau jasa tersebut. Kewajiban may be satisfied at a point or over time. The
pelaksanaan (performance obligation) dapat amount of the revenue recognized is the
dipenuhi pada suatu waktu tertentu atau dari amount allocated to the satisfied performance
waktu ke waktu. Jumlah pendapatan yang diakui obligation. The Group has generally
adalah jumlah yang dialokasikan untuk concluded that it is the principal in its revenue
kewajiban pelaksanaan (performance obligation) arrangements.
yang dipenuhi. Kelompok Usaha secara umum
menyimpulkan bahwa mereka adalah prinsipal
dalam pengaturan pendapatannya.

(a) Penjualan barang (a) Sale of goods

Pendapatan dari penjualan barang diakui Revenue from the sale of goods is
pada saat pengendalian aset dialihkan ke recognized at the point in time when
pelanggan. Umumnya, penjualan lokal pada control of the asset is transferred to the
saat pengiriman barang, sedangkan customer. Generally, local sales on
penjualan ekspor ketika barang dikapalkan delivery of goods, while export sales when
(FOB Shipping Point), karena kewajiban the goods are shipped (FOB Shipping
pelaksanaan (performance obligation) dinilai Point), as performance obligation is
telah terpenuhi dan oleh karena itu judged have been satisfied and revenue
pendapatan diakui. is therefore recognized.

Pendapatan diukur berdasarkan pada janji Revenue is measured at the

entitas dalam kontrak dengan pelanggan, consideration promised of the entity in the
dikurangi diskon dan potongan harga, jika contract with a customer, less discounts
ada. and rebates, if any.

(b) Penjualan jasa (b) Sale of services

Pendapatan dari jasa yang diberikan diakui Revenue from services rendered is
dalam periode akuntansi di mana jasa recognized in the accounting period in
diberikan. which services are rendered.
Kelompok Usaha menawarkan imbalan variabel The Group estimates the variable
berupa hak pengembalian dan penyesuaian considerations such as right of return and price
harga sehubungan klaim kualitas, dengan adjustments arising from quality claim, using
menggunakan metode nilai ekspektasian yang expected value developed based on historical
dikembangkan berdasarkan pengalaman experience or using most likely amount
historis, atau metode jumlah yang paling developed based on historical experience
mungkin yang dikembangkan berdasarkan taking into account also current purchasing
pengalaman historis dengan patterns.
mempertimbangkan pola pembelian saat ini.

41

322 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

r. Pendapatan dari Kontrak dengan Pelanggan r. Revenue from Contracts with Customers
dan Pengakuan Beban (lanjutan) and Recognition of Expenses (continued)

Pendapatan dari kontrak dengan pelanggan Revenue from contracts with customers
(lanjutan) (continued)
Manajemen menetapkan metode estimasi untuk The management established estimation
memastikan dimasukkannya imbalan variabel method that ensure inclusion of these variable
tersebut hanya sedemikian agar tidak terjadi consideration only to the extent that it is highly
pembalikan yang signifikan atas pendapatan probable that a significant reversal in the
kumulatif yang diakui ketika ketidakpastian amount of cumulative revenue recognized will
terkait dengan pertimbangan variabel tersebut not occur when the uncertainty associated
diselesaikan kedepannya. Sedangkan with the variable consideration is subsequently
pengakuan dilakukan ketika dokumen resolved. Meanwhile, the recognition is made
pendukung telah diterima dari pelanggan atau when supporting documents have been
saat kemungkinan besar penyesuaian harga received from customers or when it is probable
akan diberikan. price adjustments will be given.
Piutang usaha merupakan hak Kelompok Usaha Trade receivables represent the Group’s right
atas sejumlah imbalan yang tidak bersyarat to an amount of consideration that is
(yaitu, hanya berlalunya waktu yang diperlukan unconditional (i.e., only the passage of time is
sebelum pembayaran imbalan jatuh tempo). required before payment of the consideration
Lihat kebijakan akuntansi aset keuangan pada is due). Refer to accounting policies of
Catatan 2t Instrumen Keuangan mengenai financial assets in Note 2t in Financial
pengakuan awal dan pengukuran selanjutnya. instruments section regarding initial
recognition and subsequent measurement.

Liabilitas kontrak Contract liabilities

Liabilitas kontrak adalah kewajiban untuk A contract liability is the obligation to transfer
mentransfer barang atau jasa kepada pelanggan goods or services to a customer for which the
dimana Kelompok Usaha telah menerima Group has received consideration (or an
imbalan (atau jumlah imbalan yang jatuh tempo) amount of consideration is due) from the
dari pelanggan. customer.
Jika pelanggan membayar imbalan sebelum If a customer pays consideration before the
Kelompok Usaha mengalihkan barang atau jasa Group transfers goods or services to the
kepada pelanggan, liabilitas kontrak diakui pada customer, a contract liability is recognized
saat pembayaran dilakukan atau pembayaran when the payment is made or the payment is
jatuh tempo (mana yang lebih awal). Liabilitas due (whichever is earlier). Contract liabilities
kontrak diakui sebagai pendapatan pada saat are recognized as revenue when the Group
Kelompok Usaha memenuhi pelaksanaan performs under the contract.
kontrak.

Penghasilan/beban bunga Interest income/expense

Untuk semua instrumen keuangan yang diukur For all financial instruments measured at
pada biaya perolehan diamortisasi penghasilan amortized cost, interest income or expense is
atau beban bunga dicatat dengan menggunakan recorded using the effective interest rate,
metode suku bunga efektif, yaitu suku bunga which is the rate that exactly discounts the
yang secara tepat mendiskontokan estimasi estimated future cash payments or receipts
pembayaran atau penerimaan kas di masa yang over the expected life of the financial
akan datang selama perkiraan umur dari instrument or a shorter period, where
instrument keuangan, atau jika lebih tepat, appropriate, to the net carrying amount of the
selama periode yang lebih singkat, untuk nilai financial asset or liability.
tercatat neto dari aset atau liabilitas keuangan.

42

Annual Report 2024 323

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)
r. Pendapatan dari Kontrak dengan Pelanggan r. Revenue from Contracts with Customers
dan Pengakuan Beban (lanjutan) and Recognition of Expenses (continued)

Pendapatan sewa Rental income

Pendapatan sewa diakui dengan dasar garis Rental income is recognized on a straight-line
lurus selama masa sewa. basis over the lease terms.

Pengakuan beban Recognition of expenses

Beban diakui pada saat terjadinya atau sesuai Expenses are recognized when incurred or
dengan masa manfaatnya. based on their beneficial periods.

s. Perpajakan s. Taxation

Kelompok Usaha menerapkan ISAK The Group adopted ISAK No. 123 -
No. 123 - Ketidakpastian dalam Perlakuan Pajak Uncertainty over Income Tax Treatments. This
Penghasilan. ISAK ini membahas akuntansi ISAK addresses the accounting for income
untuk pajak penghasilan ketika perlakuan pajak taxes when tax treatments involve uncertainty
melibatkan ketidakpastian yang mempengaruhi that affects the application of PSAK 212:
penerapan PSAK 212: Pajak Penghasilan. ISAK Income Taxes. This ISAK does not apply to
ini tidak berlaku untuk pajak atau retribusi di luar taxes or levies outside the scope of PSAK 212,
ruang lingkup PSAK 212, juga tidak secara nor does it specifically include requirements
khusus mencakup persyaratan yang berkaitan relating to interest and penalties associated
dengan bunga dan denda yang terkait dengan with uncertain tax treatments. The
perlakuan pajak yang tidak pasti. Penafsiran interpretation specifically addresses the
secara khusus membahas hal-hal berikut: following:
· Apakah suatu entitas mempertimbangkan · Whether an entity considers uncertain tax
perlakuan pajak yang tidak pasti secara treatments separately;
terpisah;
· Asumsi yang dibuat entitas tentang · The assumptions an entity makes about
pemeriksaan perlakuan pajak oleh otoritas the examination of tax treatments by the
perpajakan; dan taxation authorities; and
· Bagaimana entitas menentukan laba kena · How an entity determines taxable profit
pajak (rugi pajak), dasar pengenaan pajak, (tax loss), tax bases, unused tax losses,
rugi pajak yang belum digunakan, kredit unused tax credits and tax rate.
pajak yang belum digunakan dan tarif pajak.

Kelompok Usaha menentukan apakah akan The Group determines whether to consider
mempertimbangkan masing-masing perlakuan each uncertain tax treatment separately or
pajak yang tidak pasti secara terpisah atau together with one or more other uncertain tax
bersama-sama dengan satu atau lebih perlakuan treatments and uses the approach that better
pajak tidak pasti lainnya dan menggunakan predicts the resolution of the uncertainty. The
pendekatan yang lebih baik dalam memprediksi Group applies significant judgment in
penyelesaian ketidakpastian tersebut. Kelompok identifying uncertainties over income tax
Usaha menerapkan penilaian signifikan dalam treatments. Upon adoption of the
mengidentifikasi ketidakpastian atas perlakuan Interpretation, the Group considered whether
pajak penghasilan. Setelah adopsi Interpretasi, it has any uncertain tax positions.
Kelompok Usaha mempertimbangkan apakah
Kelompok Usaha memiliki posisi pajak yang
tidak pasti.

43

324 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Perpajakan (lanjutan) s. Taxation (continued)

Pengajuan pajak Perusahaan dan entitas anak di The Company’s and the subsidiaries’ tax
berbagai yurisdiksi termasuk otoritas perpajakan filings in different jurisdictions include the
dapat menentang perlakuan pajak tersebut. taxation authorities may challenge those tax
Kelompok Usaha menentukan, berdasarkan treatments. The Group determined, based on
pada kepatuhan perpajakannya bahwa besar its tax compliance that it is probable that its tax
kemungkinan perlakuan pajaknya (termasuk treatments (including those for the
yang untuk entitas anak) akan diterima oleh subsidiaries) will be accepted by the taxation
otoritas perpajakan. authorities.

Pajak Final Final Tax

Berdasarkan peraturan pajak yang berlaku, In accordance with prevailing tax regulation,
pajak penghasilan Kelompok Usaha dari the Group’s income from rental of tanks and
aktivitas penyewaan tangki dan gudang dihitung warehouses are subject to 10% final tax while
secara final sebesar 10% sedangkan domestic shipping transportation income is
pendapatan pengangkutan untuk pelayaran subject to final tax at rate of 1.2%.
dalam negeri dikenakan pajak final sebesar
1,2%.

Berdasarkan Peraturan Pemerintah No. 71/2008 Based on Government Regulation

tanggal 4 November 2008, efektif tanggal No. 71/2008 dated November 4, 2008,
1 Januari 2009, penghasilan dari penjualan atau effective January 1, 2009, the income from
pengalihan tanah dan bangunan dikenakan sale or transfer of land and building is subject
pajak final sebesar 5% dari nilai penjualan atau to a final tax of 5% from the sale or transfer
pengalihan. Pada tanggal 8 Agustus 2016, value. On August 8, 2016, based on the
sesuai dengan Peraturan Pemerintah Government Regulation No. 34/2016 and
No. 34/2016 dan Peraturan Menteri Keuangan Ministry of Finance Regulation
No. 261/PMK.03/2016, pajak penghasilan dari No. 261/PMK.03/2016, income from sale of
pengalihan hak atas tanah dan/atau bangunan land and/or buildings subject to final tax of
dikenakan pajak bersifat final sebesar 2,5%. 2.5%.

Perbedaan nilai tercatat aset atau liabilitas yang The difference between the financial
berhubungan dengan pajak penghasilan final statement carrying amounts of existing assets
dengan dasar pengenaan pajaknya tidak diakui and liabilities and their respective final tax
sebagai aset atau liabilitas pajak tangguhan. bases is not recognized as deferred tax assets
or liabilities.

Pajak Penghasilan - Pajak Kini Income Tax - Current Tax

Aset dan liabilitas pajak kini untuk tahun berjalan Current income tax assets and liabilities for the
dan tahun-tahun sebelumnya diukur pada jumlah current and prior years are measured at the
yang diharapkan akan terpulihkan atau yang amount expected to be recovered from or paid
akan dibayarkan kepada otoritas pajak. Tarif to the taxation authorities. The tax rates and
pajak dan peraturan perpajakan yang digunakan tax laws used to compute the amount are
untuk menghitung jumlah pajak adalah tarif pajak those that are enacted or substantively
yang berlaku atau secara substansial telah enacted, at the reporting date, in the countries
berlaku pada tanggal pelaporan, di negara where the Group operates and generates
dimana Kelompok Usaha beroperasi dan taxable income.
menghasilkan laba kena pajaknya.

44

Annual Report 2024 325

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

s. Perpajakan (lanjutan) s. Taxation (continued)

Pajak Penghasilan - Pajak Kini (lanjutan) Income Tax - Current Tax (continued)

Pajak kini yang terkait dengan komponen yang Current income tax relating to items
diakui langsung ke ekuitas diakui di ekuitas dan recognized directly in equity is recognized in
tidak ke laporan laba rugi. Manajemen secara equity and not in the profit or loss.
periodik mengevaluasi posisi yang diambil Management periodically evaluates positions
sehubungan dengan pelaporan pajak untuk taken in the tax returns with respect to
situasi dimana relevan pajak terkait memerlukan situations in which applicable tax regulations
interpretasi dan melakukan pencadangan jika are subject to interpretation and establishes
diperlukan. provisions where appropriate.

Syarat yang harus dipenuhi adalah sebagai The conditions to be fulfilled are as follows:
berikut:
· Paling sedikit 40% saham yang beredar · At least 40% of the outstanding shares
dipegang oleh pemegang saham publik are held by public comprising of at least
yang terdiri dari paling sedikit oleh 300 300 shareholders;
pemegang saham;
· Masing-masing pemegang saham memiliki · Each shareholder holding less than 5% of
saham kurang dari 5% dari keseluruhan the outstanding shares; and
saham yang beredar; dan
· Dua kondisi di atas harus dipenuhi paling · The two conditions above must be
singkat dalam kurun waktu 183 hari dalam maintained for 183 days within one fiscal
waktu satu tahun pajak. year.

45

326 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

s. Perpajakan (lanjutan) s. Taxation (continued)

Pajak Penghasilan Pilar Dua Pillar Two Income Taxes

Sebagai tanggapan terhadap penerapan In response to the implementation of the

kerangka Pilar Dua Organisasi untuk Organisation for Economic Co-operation and
Kerja Sama dan Pembangunan Ekonomi Development (“OECD”) Pillar Two framework,
(Organisation for Economic Co-operation and on December 31, 2024, Indonesian
Development atau "OECD"), pada tanggal Government implemented Pillar Two
31 Desember 2024, Pemerintah Indonesia framework through Ministry of Finance
menerapkan kerangka Pilar Dua melalui Regulation No. 136/2024 (PMK 136/2024). The
Peraturan Menteri Keuangan No. 136/2024 Pillar Two model rules as implemented under
(PMK 136/2024). Aturan model Pilar Dua PMK 136/2024 will take effect for fiscal years
sebagaimana diterapkan dalam PMK 136/2024 beginning on or after January 1, 2025. For the
akan berlaku untuk tahun fiskal yang dimulai year ended December 31, 2024, the Group has
pada atau setelah tanggal 1 Januari 2025. applied amendments to PSAK 212: Income
Untuk tahun yang berakhir pada 31 Desember Taxes, which provide mandatory temporary
2024, Kelompok Usaha telah menerapkan exception from recognizing or disclosing
amandemen PSAK 212: Pajak Penghasilan, deferred taxes related to Pillar Two.
yang memberikan pengecualian wajib
sementara dari pengakuan atau pengungkapan
pajak tangguhan terkait Pilar Dua.

Kelompok Usaha akan menerapkan The Group will apply the exception to the
pengecualian atas pengakuan dan recognition and disclosure of deferred taxes
pengungkapan pajak tangguhan terkait dengan related to the Pillar Two income taxes. In
pajak penghasilan Pilar Dua. Sebagai addition, the Group does not have subsidiaries
tambahan, Kelompok Usaha tidak memiliki which are operate in jurisdictions where the
entitas anak yang beroperasi di yuridiksi dimana effective tax rate (ETR) of their constituent
tarif pajak efektif (TER) entitas konstituennya di entities falls below the 15% threshold.
bawah ambang batas 15%.
Pajak Penghasilan - Pajak Tangguhan Income Tax - Deferred Tax

Pajak tangguhan diukur dengan metode liabilitas Deferred tax is provided using the liability
atas beda waktu pada tanggal pelaporan antara method on temporary differences at the
dasar pengenaan pajak untuk aset dan liabilitas reporting date between the tax bases of assets
dengan nilai tercatatnya untuk tujuan pelaporan and liabilities and their carrying amounts for
keuangan. Liabilitas pajak tangguhan diakui financial reporting purposes. Deferred tax
untuk semua perbedaan temporer kena pajak liabilities are recognized for all taxable
dengan beberapa pengecualian. Aset pajak temporary differences with certain exceptions.
tangguhan diakui untuk perbedaan temporer Deferred tax assets are recognized for
yang boleh dikurangkan dan rugi fiskal apabila deductible temporary differences and tax
terdapat kemungkinan besar bahwa jumlah laba losses carry forwards to the extent that it is
kena pajak pada masa mendatang akan probable that taxable income will be available
memadai untuk mengkompensasi perbedaan in future years against which the deductible
temporer dan rugi fiskal. temporary differences and tax losses
carryforwards can be utilized.

46

Annual Report 2024 327

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

s. Perpajakan (lanjutan) s. Taxation (continued)

Pajak Penghasilan - Pajak Tangguhan (lanjutan) Income Tax - Deferred Tax (continued)

Pajak tangguhan diukur dengan menggunakan Deferred tax is calculated at the tax rates that
tarif pajak yang berlaku atau secara substansial have been enacted or substantively enacted at
telah berlaku pada tanggal pelaporan. the reporting date. Changes in the carrying
Perubahan nilai tercatat aset dan liabilitas pajak amount of deferred tax assets and liabilities
tangguhan yang disebabkan oleh perubahan tarif due to a change in tax rate are charged to the
pajak dibebankan pada tahun berjalan, kecuali current year, except to the extent that it relates
untuk transaksi-transaksi yang sebelumnya telah to items previously charged or credited to
langsung dibebankan atau dikreditkan ke equity. The deferred tax effect arising from
ekuitas. Efek pajak tangguhan yang timbul dari acquisition is recognized as part of the
akuisisi disajikan sebagai bagian dari akun “Aset “Deferred Tax Asset or Liability” account.
atau Liabilitas Pajak Tangguhan”.
Aset dan liabilitas pajak tangguhan disajikan Deferred tax assets and liabilities are offset in
secara saling hapus di laporan posisi keuangan the consolidated statements of financial
konsolidasian, kecuali aset dan liabilitas pajak position, except if these are for different legal
tangguhan untuk entitas yang berbeda sesuai entities, in the same manner the current tax
dengan penyajian aset dan liabilitas pajak kini. assets and liabilities are presented.

Pajak Penjualan Sales Tax

Penjualan, beban dan aset diakui neto terhadap Revenues, expenses and assets are
nilai pajak penjualan (yaitu pajak pertambahan recognized net of the amount of sales tax (i.e.
nilai dan pajak terkait lainnya, jika ada) kecuali: value-added tax and other relevant taxes, if
any) except:
· Situasi dimana pajak penjualan yang timbul · Where the sales tax incurred on a
dari pembelian aset atau jasa tidak purchase of assets or services is not
terpulihkan dari otoritas pajak, dalam situasi recoverable from the taxation authority, in
tersebut pajak penjualan terkait diakui which case the sales tax is recognized as
sebagai bagian dari nilai perolehan aset part of the cost of acquisition of the asset
atau bagian dari beban. or as part of the expense item as
applicable.
· Piutang dan hutang yang diakui termasuk · Receivables and payables that are stated
pajak penjualan terkait. with the amount of sales tax included.

Nilai dari pajak penjualan neto yang dipulihkan The net amount of sales tax recoverable from,
atau terhutang ke otoritas pajak dicatat sebagai or payable to, the taxation authority is included
bagian dari piutang atau hutang dalam laporan as part of receivables or payables in the
posisi keuangan konsolidasian. consolidated statements of financial position.

t. Instrumen Keuangan t. Financial Instruments

Instrumen keuangan adalah setiap kontrak yang A financial instrument is any contract that
memberikan aset keuangan bagi satu entitas gives rise to a financial asset of one entity and
dan liabilitas keuangan atau ekuitas bagi entitas a financial liability or equity instrument of
lain. another entity.

47

328 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

t. Instrumen Keuangan (lanjutan) t. Financial Instruments (continued)

i. Aset Keuangan i. Financial Assets

Pengakuan dan pengukuran awal Initial recognition and measurement

Aset keuangan diklasifikasikan, pada Financial assets are classified, at initial

pengakuan awal, yang selanjutnya diukur recognition, as subsequently measured at
pada biaya perolehan diamortisasi, nilai amortized cost, fair value through Other
wajar melalui Pendapatan Komprehensif Comprehensive Income (“OCI”), and fair
Lain (“PKL”), dan nilai wajar melalui laba value through profit or loss.
rugi.

Piutang usaha yang tidak mengandung Trade receivables that do not contain a
komponen pembiayaan yang signifikan atau significant financing component or for
yang mana Kelompok Usaha telah which the Group has applied the practical
menerapkan kebijaksanaan praktis diukur expedient are measured at the
pada harga transaksi yang ditentukan transaction price determined under PSAK
berdasarkan PSAK 115. Lihat kebijakan 115. Refer to Note 2r for the accounting
akuntansi pada Catatan 2r untuk kebijakan policy in relation to revenue from
terkait pendapatan dari kontrak dengan contracts with customers.
pelanggan.

Agar aset keuangan diklasifikasikan dan In order for a financial asset to be

diukur pada biaya perolehan diamortisasi classified and measured at amortised
atau nilai wajar melalui PKL, aset keuangan cost or fair value through OCI, it needs to
harus menghasilkan arus kas yang Semata- give rise to cash flows that are Solely
mata Pembayaran Pokok dan Bunga Payments of Principal and Interest
(“SPPI”) dari jumlah pokok terhutang. (“SPPI”) on the principal amount
Penilaian ini disebut sebagai tes SPPI dan outstanding. This assessment is referred
dilakukan pada tingkat instrumen. to as the SPPI test and is performed at an
instrument level.
Model bisnis Kelompok Usaha untuk The Group’s business model for
mengelola aset keuangan mengacu pada managing financial assets refers to how it
bagaimana Kelompok Usaha mengelola manages its financial assets in order to
aset keuangannya untuk menghasilkan arus generate cash flows. The business model
kas. Model bisnis menentukan apakah arus determines whether cash flows will result
kas akan dihasilkan dari pengumpulan arus from collecting contractual cash flows,
kas kontraktual, penjualan aset keuangan, selling the financial assets, or both.
atau keduanya.

48

Annual Report 2024 329

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

t. Instrumen Keuangan (lanjutan) t. Financial Instruments (continued)

i. Aset Keuangan (lanjutan) i. Financial Assets (continued)

Pengakuan dan pengukuran awal (lanjutan) Initial recognition and measurement

(continued)

Pembelian atau penjualan aset keuangan Purchases or sales of financial assets that
yang memerlukan penyerahan aset dalam require delivery of assets within a time
jangka waktu yang ditetapkan oleh regulasi frame established by regulation or
atau konvensi di pasar (perdagangan convention in the marketplace (regular
reguler) diakui pada tanggal perdagangan, way trades) are recognized on the trade
yaitu tanggal Kelompok Usaha berkomitmen date, i.e., the date that the Group commits
untuk membeli atau menjual aset. to purchase or sell the assets.

Kelompok Usaha memiliki kas dan setara The Group has cash and cash
kas, piutang usaha, piutang lain-lain, dan equivalents, trade and other receivables,
aset lancar lainnya yang seluruhnya and other current assets which are all
diklasifikasikan sebagai aset keuangan classified as financial assets measured at
yang diukur pada biaya perolehan amortized cost. The Group has no
diamortisasi. Kelompok Usaha tidak financial assets measured at fair value
memiliki aset keuangan yang diukur pada through OCI or fair value through profit or
nilai wajar melalui PKL atau nilai wajar loss.
melalui laba rugi.

Kelompok Usaha mengukur aset keuangan The Group measures financial assets at
pada biaya perolehan diamortisasi jika amortized cost if both of the following
kedua kondisi berikut ini terpenuhi: conditions are met:

i) Aset keuangan tersebut dikelola dalam i) The financial asset is held within a
model bisnis yang bertujuan untuk business model with the objective to
memiliki aset keuangan dalam rangka hold financial assets in order to
memperoleh arus kas kontraktual, dan collect contractual cash flows, and

ii) Persyaratan kontraktual dari aset ii) The contractual terms of the financial
keuangan yang pada tanggal tertentu asset give rise on specified dates to
meningkatkan arus kas yang SPPI dari cash flows that are SPPI on the
jumlah pokok terhutang. principal amount outstanding.

49

330 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

t. Instrumen Keuangan (lanjutan) t. Financial Instruments (continued)

i. Aset Keuangan (lanjutan) i. Financial Assets (continued)

Pengukuran setelah pengakuan awal Subsequent measurement

Aset keuangan pada biaya perolehan Financial assets at amortized cost are
diamortisasi selanjutnya diukur dengan subsequently measured using the
menggunakan suku bunga efektif (“SBE”) effective interest rate (“EIR”) method and
dan diuji penurunan nilainya. Keuntungan are subject to impairment. Gains and
dan kerugian diakui dalam laba rugi pada losses are recognized in profit or loss
saat aset keuangan dihentikan when the financial asset is derecognized,
pengakuannya, dimodifikasi atau modified or impaired.
mengalami penurunan nilai.

Penghentian pengakuan Derecognition

Penghentian pengakuan atas suatu aset A financial asset, or where applicable, a

keuangan, atau, bila dapat diterapkan untuk part of a financial asset or part of a group
bagian dari aset keuangan atau bagian dari of similar financial assets, is
kelompok aset keuangan serupa (yaitu, derecognized (i.e., removed from the
dihapuskan dari laporan posisi keuangan Group’s consolidated statement of
konsolidasian Kelompok Usaha), terjadi financial position) when:
apabila:

i) Hak kontraktual atas arus kas yang i) The contractual rights to receive the
berasal dari aset keuangan tersebut cash flows from these assets have
berakhir; expired;

ii) Kelompok Usaha telah mengalihkan ii) The Group has transferred its rights to
hak untuk menerima arus kas yang receive cash flows from the asset or
berasal dari aset keuangan tersebut has assumed an obligation to pay the
atau menanggung kewajiban untuk received cash flows in full without
membayar arus kas yang diterima material delay to a third party under a
tersebut tanpa penundaan yang “pass-through” arrangement, and
signifikan terhadap pihak ketiga melalui either (a) the Group has transferred
suatu kesepakatan “penyerahan” dan substantially all the risk and rewards
(a) Kelompok Usaha secara substansial of the financial assets, or (b) the
memindahkan seluruh risiko dan Group has neither transferred nor
manfaat atas kepemilikan aset retained substantially all the risk and
keuangan tersebut, atau (b) Kelompok rewards of the assets, but has
Usaha secara substansial tidak transferred control of the asset.
memindahkan dan tidak memiliki
seluruh risiko dan manfaat atas
kepemilikan aset keuangan tersebut,
namun telah memindahkan
pengendalian atas aset keuangan
tersebut.

50

Annual Report 2024 331

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

t. Instrumen Keuangan (lanjutan) t. Financial Instruments (continued)

i. Aset Keuangan (lanjutan) i. Financial Assets (continued)

Penghentian pengakuan (lanjutan) Derecognition (continued)

Apabila Kelompok Usaha telah mengalihkan When the Group has transferred its right
hak untuk menerima arus kas yang berasal to receive cash flows from an asset or has
dari aset keuangan atau mengadakan entered in to “pass-through” arrangement,
kesepakatan penyerahan dan tidak has neither transferred nor retained
mengalihkan maupun memiliki secara substantially all risk and rewards of the
substansial seluruh risiko dan manfaat atas asset nor transferred control of the asset,
aset keuangan tersebut dan juga tidak the asset is recognized to the extent of the
mengalihkan pengendalian atas aset Group’s continuing involvement in the
keuangan tersebut, maka suatu aset asset. In that case, the Group also
keuangan baru diakui oleh Kelompok Usaha recognizes an associated liability. The
sebesar keterlibatannya yang berkelanjutan transferred asset and the associated
dengan aset keuangan tersebut. Dalam hal liability are measured on a basis that
itu, Kelompok Usaha juga mengakui reflects the rights and obligations that the
liabilitas terkait. Aset alihan beserta liabilitas Group has retained.
terkait diukur dengan dasar yang
merefleksikan hak dan kewajiban yang
dimiliki Kelompok Usaha.

Keterlibatan berkelanjutan yang berbentuk Continuing involvement that takes the

pemberian jaminan atas aset alihan diukur form of a guarantee over the transferred
sebesar jumlah yang lebih rendah antara asset is measured at the lower of the
jumlah aset alihan dan jumlah maksimal original carrying amount of the asset and
imbalan yang mungkin harus dibayar the maximum amount of consideration
kembali oleh Kelompok Usaha. received that the Group could be required
to repay.

Penurunan nilai aset keuangan Impairment of financial asset

Kelompok Usaha mengakui penyisihan The Group recognizes an allowance for

untuk Kerugian Kredit Ekspektasian (“KKE”) Expected Credit Losses (“ECL”) for all
untuk seluruh instrumen utang yang tidak debt instruments not held at fair value
dimiliki pada nilai wajar melalui laba rugi. through profit or loss. ECL are based on
KKE didasarkan pada selisih antara arus the difference between the contractual
kas kontraktual yang jatuh tempo sesuai cash flows due in accordance with the
dengan kontrak dan seluruh arus kas yang contract and all the cash flows that the
diperkirakan akan diterima Kelompok Group expects to receive, discounted at
Usaha, didiskontokan dengan SBE awal. an approximation of the original EIR. The
Arus kas ekspektasian akan mencakup arus expected cash flows will include cash
kas dari penjualan agunan atau perbaikan flows from the sale of collateral held or
risiko-kredit lain yang merupakan bagian other credit enhancements that are
dari persyaratan kontraktual. integral to the contractual terms.

51

332 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

t. Instrumen Keuangan (lanjutan) t. Financial Instruments (continued)

i. Aset Keuangan (lanjutan) i. Financial Assets (continued)

Penurunan nilai aset keuangan (lanjutan) Impairment of financial asset (continued)

KKE diakui dalam dua tahap. Untuk ECLs are recognized in two stages. For
eksposur kredit yang belum ada credit exposures for which there has not
peningkatan risiko kredit yang signifikan been a significant increase in credit risk
sejak pengakuan awal, KKE dilakukan untuk since initial recognition, ECL are provided
kerugian kredit yang diakibatkan oleh for credit losses that result from default
peristiwa gagal bayar yang mungkin terjadi events that are possible within the next
dalam 12 bulan ke depan (KKE 12 bulan). 12-months (a 12-month ECL). For those
Untuk eksposur kredit yang telah terjadi credit exposures for which there has been
peningkatan risiko kredit yang signifikan a significant increase in credit risk since
sejak pengakuan awal, penyisihan kerugian initial recognition, a loss allowance is
dilakukan untuk kerugian kredit yang required for credit losses expected over
diperkirakan selama sisa umur eksposur, the remaining life of the exposure,
terlepas dari waktu gagal bayar (KKE irrespective of the timing of the default (a
sepanjang umur). lifetime ECL).

Untuk piutang usaha, Kelompok Usaha For trade receivables, the Group applies
menerapkan pendekatan yang a simplified approach in calculating ECL.
disederhanakan dalam menghitung KKE. Therefore, the Group does not track
Oleh karena itu, Kelompok Usaha tidak changes in credit risk, but instead
menelusuri perubahan dalam risiko kredit, recognizes a loss allowance based on
tetapi mengakui penyisihan kerugian lifetime ECLs at each reporting date. The
berdasarkan KKE sepanjang umur pada Group has established a provision matrix
setiap tanggal pelaporan. Kelompok Usaha that is based on its historical credit loss
telah menyusun matriks provisi berdasarkan experience, adjusted for forward-looking
pengalaman kerugian kredit historisnya, factors specific to the debtors and the
disesuaikan dengan faktor-faktor perkiraan economic environment.
masa depan yang spesifik bagi debitur dan
lingkungan ekonomi.

Kelompok Usaha menganggap aset The Group considers a financial asset in

keuangan gagal bayar ketika pembayaran default when contractual payments are 90
kontraktual telah lewat 90 hari. Namun, days past due. However, in certain cases,
dalam kasus tertentu, Kelompok Usaha juga the Group may also consider a financial
dapat mempertimbangkan aset keuangan asset to be in default when internal or
mengalami gagal bayar ketika informasi external information indicates that the
internal atau eksternal menunjukkan bahwa Group is unlikely to receive the
Kelompok Usaha tidak mungkin menerima outstanding contractual amounts in full
jumlah kontraktual yang terutang secara before taking into account any credit
penuh sebelum memperhitungkan setiap enhancements held by the Group. A
perbaikan risiko-kredit yang dimiliki oleh financial asset is written off when there is
Kelompok Usaha. Aset keuangan no reasonable expectation of recovering
dihapuskan jika tidak ada ekspektasi yang the contractual cash flows.
wajar untuk memulihkan arus kas
kontraktual.

52

Annual Report 2024 333

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

t. Instrumen Keuangan (lanjutan) t. Financial Instruments (continued)

ii. Liabilitas keuangan ii. Financial liabilities

Pengakuan dan pengukuran awal Initial recognition and measurement

Liabilitas keuangan diklasifikasikan sebagai Financial liabilities are classified as

liabilitas keuangan yang diukur pada nilai financial liabilities at fair value through
wajar melalui laba rugi dan liabilitas profit or loss and other financial liabilities.
keuangan lainnya. Kelompok Usaha The Group determines the classification
menetapkan klasifikasi atas liabilitas of its financial liabilities at intial
keuangan pada saat pengakuan awal. recognition.

Liabilitas keuangan pada awalnya diukur Financial liabilities are recognized initially
pada nilai wajar dan, dalam hal pinjaman at fair value and, in the case of loans and
dan hutang, ditambah biaya transaksi yang borrowings, inclusive of directly
dapat diatribusikan secara langsung. attributable transaction costs.

Liabilitas keuangan Kelompok Usaha The Group’s financial liabilities include

meliputi hutang bank jangka pendek, hutang short-term bank loan, long-term bank
bank jangka panjang, hutang usaha dan loans, trade and other payables, accrued
hutang lain-lain, biaya masih harus dibayar, expenses, lease liabilities, and dividend
liabilitas sewa dan hutang dividen. payables.

Pengukuran setelah pengakuan awal Subsequent measurement

Pengukuran liabilitas keuangan tergantung The measurement of a financial liability

pada klasifikasinya. Semua liabilitas depends on its classification. All of the
keuangan Kelompok Usaha diklasifikasikan Group’s financial liabilities are classified
sebagai pinjaman dan hutang. as loans and borrowings.

Setelah pengakuan awal, pinjaman dan After initial recognition, interest-bearing

utang yang dikenakan bunga selanjutnya loans and borrowings are subsequently
diukur pada biaya perolehan diamortisasi measured at amortized cost using the EIR
dengan menggunakan metode SBE. method.

Keuntungan atau kerugian diakui dalam Gains or losses are recognized in profit or
laba rugi ketika liabilitas keuangan loss when the financial liabilities are
dihentikan pengakuannya serta melalui derecognized as well as through the
proses amortisasi menggunakan metode amortization process using the EIR
SBE. method.

Biaya perolehan diamortisasi dihitung Amortized cost is calculated by taking into

dengan mempertimbangkan diskonto atau account any discount or premium on
premi atas akuisisi dan biaya atau biaya acquisition and fees or costs that are an
yang merupakan bagian tidak terpisahkan integral part of the EIR. The EIR
dari SBE. Amortisasi SBE dicatat sebagai amortization is included as finance costs
biaya keuangan dalam laporan laba rugi dan in the consolidated statement of profit or
penghasilan komprehensif lain loss and other comprehensive income.
konsolidasian.

53

334 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

t. Instrumen Keuangan (lanjutan) t. Financial Instruments (continued)

ii. Liabilitas keuangan (lanjutan) ii. Financial liabilities (continued)

Penghentian pengakuan Derecognition

Liabilitas keuangan dihentikan A financial liability is derecognized when

pengakuannya ketika liabilitas yang the obligation under the liability is
ditetapkan dalam kontrak dihentikan atau discharged or cancelled or has expired.
dibatalkan atau kedaluwarsa.

iii. Saling hapus instrumen keuangan iii. Offsetting financial instruments

Aset keuangan dan liabilitas keuangan Financial assets and liabilities are offset
disalinghapuskan dan jumlah netonya and the net amount is reported in the
dilaporkan pada laporan posisi keuangan statement of financial position when there
ketika terdapat hak yang berkekuatan is a legally enforceable right to offset the
hukum untuk melakukan saling hapus atas recognized amounts and there is an
jumlah yang telah diakui tersebut dan intention to settle on a net basis, or realise
adanya niat untuk menyelesaikan secara the asset and settle the liability
neto, atau untuk merealisasikan aset dan simultaneously.
menyelesaikan liabilitas secara bersamaan.

u. Penurunan Nilai Aset Non-Keuangan u. Impairment of Non-Financial Assets

Pada setiap akhir periode pelaporan, Kelompok The Group assesses at each annual reporting
Usaha menilai apakah terdapat indikasi suatu period whether there is an indication that an
aset mengalami penurunan nilai. Jika terdapat asset may be impaired. If any such indication
indikasi tersebut atau pada saat pengujian exists, or when annual impairment testing for
secara tahunan penurunan nilai aset (yaitu aset an asset (i.e. an intangible asset with an
tidak berwujud dengan umur manfaat tidak indefinite useful life, an intangible asset not yet
terbatas, aset tidak berwujud yang belum dapat available for use or goodwill acquired in a
digunakan atau goodwill yang diperoleh dalam business combination) is required, the Group
suatu kombinasi bisnis) diperlukan, maka makes an estimate of the asset’s recoverable
Kelompok Usaha membuat estimasi jumlah amount.
terpulihkan aset tersebut.

Jumlah terpulihkan yang ditentukan untuk aset An asset’s recoverable amount is the higher
individual adalah jumlah yang lebih tinggi antara of an asset’s or CGU’s fair value less costs to
nilai wajar aset atau UPK dikurangi biaya untuk sell and its value in use, and is determined for
menjual dengan nilai pakainya, kecuali aset an individual asset, unless the asset does not
tersebut tidak menghasilkan arus kas masuk generate cash inflows that are largely
yang sebagian besar independen dari aset atau independent of those from other assets or
kelompok aset lain. Jika nilai tercatat aset atau groups of assets. Where the carrying amount
UPK lebih besar daripada jumlah of an asset or CGU exceeds its recoverable
terpulihkannya, maka aset tersebut amount, the asset is considered impaired and
dipertimbangkan mengalami penurunan nilai is written down to its recoverable amount.
dan nilai tercatat aset diturunkan menjadi
sebesar jumlah terpulihkannya.

Kelompok Usaha mendasarkan perhitungan The Group bases its impairment calculation
penurunan nilai pada rincian perhitungan on detailed budgets and forecast calculations
anggaran atau prakiraan yang disusun secara which are prepared separately for each of the
terpisah untuk masing-masing UPK Kelompok Group’s CGUs to which the individual assets
Usaha atas aset individual yang dialokasikan. are allocated.

54

Annual Report 2024 335

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

u. Penurunan Nilai Aset Non-Keuangan u. Impairment of Non-Financial Assets

(lanjutan) (continued)

Dalam menghitung nilai pakai, estimasi arus kas In assessing the value in use, the estimated
masa depan neto didiskontokan ke nilai kini net future cash flows are discounted to their
dengan menggunakan tingkat diskonto sebelum present value using a pre-tax discount rate
pajak yang menggambarkan penilaian pasar kini that reflects current market assessments of
dari nilai waktu uang dan risiko spesifik atas aset. the time value of money and the risks specific
Dalam menentukan nilai wajar dikurangi biaya to the asset. In determining fair value less
untuk menjual, digunakan harga penawaran costs to sell, recent market transactions are
pasar terakhir, jika tersedia. Jika tidak terdapat taken into account, if available. If no such
transaksi tersebut, digunakan model penilaian transactions can be identified, an appropriate
yang sesuai untuk menentukan nilai wajar aset. valuation model is used to determine the fair
Perhitungan-perhitungan ini dikuatkan oleh value of the assets. These calculations are
penilaian berganda atau indikator nilai wajar yang corroborated by valuation multiples or other
tersedia. available fair value indicators.

Kerugian penurunan nilai dari operasi yang Impairment losses of continuing operation, if
berkelanjutan, jika ada, diakui sebagai laba rugi any, are recognized as profit or loss under
sesuai dengan kategori biaya yang konsisten expense categories that are consistent with
dengan fungsi dari aset yang diturunkan nilainya. the functions of the impaired assets.

Untuk aset selain goodwill, penilaian dilakukan For assets excluding goodwill, an assessment
pada akhir setiap tanggal pelaporan apakah is made at each reporting date as to whether
terdapat indikasi bahwa rugi penurunan nilai there is any indication that previously
yang telah diakui dalam tahun sebelumnya recognized impairment losses may no longer
mungkin tidak ada lagi atau mungkin telah exist or may have decreased. If such
menurun. Jika indikasi dimaksud ditemukan, indication exists, the asset’s or CGU’s
maka entitas mengestimasi jumlah terpulihkan recoverable amount is estimated. A
aset atau UPK tersebut. Kerugian penurunan previously recognized impairment loss for an
nilai yang telah diakui dalam periode asset is reversed only if there has been a
sebelumnya untuk aset dibalik hanya jika change in the assumptions used to determine
terdapat perubahan asumsi-asumsi yang the asset’s recoverable amount since the last
digunakan untuk menentukan jumlah terpulihkan impairment loss was recognized. If that is the
aset tersebut sejak rugi penurunan nilai terakhir case, the carrying amount of the asset is
diakui. Dalam hal ini, jumlah tercatat aset increased to its recoverable amount. The
dinaikkan ke jumlah terpulihkannya. Pembalikan reversal is limited so that the carrying amount
tersebut dibatasi sehingga jumlah tercatat aset of the assets does not exceed its recoverable
tidak melebihi jumlah terpulihkannya maupun amount nor exceed the carrying amount that
jumlah tercatat, neto setelah penyusutan, would have been determined, net of
seandainya tidak ada rugi penurunan nilai yang depreciation, had no impairment loss been
telah diakui untuk aset tersebut pada tahun recognized for the asset in prior years.
sebelumnya. Pembalikan rugi penurunan nilai Reversal of an impairment loss is recognized
diakui dalam laba rugi. in the profit and loss.

Setelah pembalikan tersebut, penyusutan aset After such a reversal, the depreciation charge
tersebut disesuaikan di periode mendatang on the said asset is adjusted in future periods
untuk mengalokasikan jumlah tercatat aset yang to allocate the asset’s revised carrying
direvisi, dikurangi nilai sisanya, dengan dasar amount, less any residual value, on a
yang sistematis selama sisa umur manfaatnya. systematic basis over its remaining useful life.

55

336 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

v. Laba per Saham v. Earnings per Share

Laba per saham dihitung berdasarkan rata-rata Earnings per share is computed based on the
tertimbang jumlah saham yang beredar selama weighted average number of issued and fully
periode yang bersangkutan. paid shares during the period.

Perusahaan tidak mempunyai efek berpotensi The Company has no outstanding dilutive
saham biasa yang bersifat dilutif pada tanggal potential ordinary shares as of December 31,
31 Desember 2024. 2024.

w. Informasi Segmen w. Segment Information

Untuk tujuan manajemen, Kelompok Usaha For management purposes, the Group is
dibagi menjadi empat (4) segmen operasi utama organized into four (4) main operating
berdasarkan produk dan jasa yang dikelola segments based on their products and
secara independen oleh masing-masing services which are independently managed by
pengelola segmen yang bertanggung jawab atas the respective segment managers for the
kinerja dari masing-masing segmen. Para performance of the respective segments
pengelola segmen melaporkan secara langsung under their charge. The segment managers
kepada manajemen yang secara teratur report directly to the management who
mengkaji laba segmen sebagai dasar untuk regularly review the segment results in order
mengalokasikan sumber daya ke masing-masing to allocate resources to the segments and to
segmen dan untuk menilai kinerja segmen. assess the segment performance. Additional
Pengungkapan tambahan pada masing-masing disclosures on each of these segments are
segmen terdapat dalam Catatan 33, termasuk shown in Note 33, including the factors used
faktor yang digunakan untuk mengidentifikasi to identify the reportable segments and the
segmen yang dilaporkan dan dasar pengukuran measurement basis of segment information.
informasi segmen.

Aset dan liabilitas yang digunakan bersama Assets and liabilities that relate jointly to one
dalam satu segmen atau lebih dialokasikan or more segments are allocated to their
kepada setiap segmen jika, dan hanya jika, respective segment, if and only if, their related
pendapatan dan beban yang terkait dengan aset revenues and expenses are also allocated to
tersebut juga dialokasikan kepada segmen- those segments.
segmen tersebut.

x. Pengukuran Nilai Wajar x. Fair Value Measurement

Nilai wajar dari aset atau liabilitas diukur dengan The fair value of an asset or a liability is
menggunakan asumsi yang akan digunakan measured using the assumptions that market
pelaku pasar ketika menentukan harga aset atau participants would use when pricing the asset
liabilitas tersebut, dengan asumsi bahwa pelaku or liability, assuming that market participants
pasar bertindak dalam kepentingan ekonomi act in their economic best interest.
terbaiknya.

56

Annual Report 2024 337

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

x. Pengukuran Nilai Wajar (lanjutan) x. Fair Value Measurement (continued)

Pengukuran nilai wajar dari suatu aset non- A fair value measurement of a non-financial
keuangan memperhitungkan kemampuan asset takes into account a market participant's
pelaku pasar untuk menghasilkan manfaat ability to generate economic benefits by using
ekonomik dengan menggunakan aset dalam the asset in its highest and best use or by
penggunaan tertinggi dan terbaiknya atau selling it to another market participant that
dengan menjualnya kepada pelaku pasar lain would use the asset in its highest and best
yang akan menggunakan aset tersebut pada use.
penggunaan tertinggi dan terbaiknya.

Kelompok Usaha menggunakan teknik penilaian The Group uses valuation techniques that are
yang sesuai dengan keadaan dan data yang appropriate in the circumstances and for which
memadai tersedia untuk mengukur nilai wajar, sufficient data are available to measure fair
dengan memaksimalkan masukan yang dapat value, maximizing the use of relevant
diamati (observable) yang relevan dan observable inputs and minimizing the use of
meminimalkan masukan yang tidak dapat unobservable inputs.
diamati (unobservable).

Semua aset dan liabilitas yang nilai wajarnya All assets and liabilities for which fair value is
diukur atau diungkapkan dalam laporan measured or disclosed in the consolidated
keuangan konsolidasian dikategorikan dalam financial statements are categorised within the
hirarki nilai wajar berdasarkan level masukan fair value hierarchy, described as follows,
paling rendah yang signifikan terhadap based on the lowest level input that is
pengukuran nilai wajar secara keseluruhan significant to the fair value measurement as a
sebagai berikut: whole:

i) Level 1 - Harga kuotasian (tanpa i) Level 1 - Quoted (unadjusted) market

penyesuaian) di pasar aktif untuk aset atau prices in active markets for identical
liabilitas yang identik yang dapat diakses assets or liabilities.
entitas pada tanggal pengukuran.

ii) Level 2 - Teknik penilaian yang ii) Level 2 - Valuation techniques for which
menggunakan tingkat masukan (input) yang the lowest level input that is significant to
paling rendah yang signifikan terhadap the fair value measurement is directly or
pengukuran nilai wajar yang dapat diamati indirectly observable.
(observable) baik secara langsung atau
tidak langsung.

iii) Level 3 - Teknik penilaian yang iii) Level 3 - Valuation techniques for which
menggunakan tingkat masukan (input) yang the lowest level input that is significant to
paling rendah yang signifikan terhadap the fair value measurement is
pengukuran nilai wajar yang tidak dapat unobservable.
diamati (unobservable).

Untuk aset dan liabilitas yang diakui pada For assets and liabilities that are recognized in
laporan keuangan konsolidasian secara the consolidated financial statements on a
berulang, Kelompok Usaha menentukan apakah recurring basis, the Group determines whether
terdapat perpindahan antara Level dalam hirarki transfers have occurred between Levels in the
dengan melakukan evaluasi ulang atas hierarchy by re-assessing categorisation
penetapan kategori (berdasarkan Level (based on the lowest level input that is
masukan (input) paling rendah yang signifikan significant to the fair value measurement as a
terhadap pengukuran nilai wajar secara whole) at the end of each reporting period.
keseluruhan) pada tiap akhir periode pelaporan.

57

338 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

y. Ketidakpastian Sumber Estimasi y. Source of Estimation Uncertainty

Penyusunan laporan keuangan konsolidasian The preparation of the Group’s consolidated

Kelompok Usaha mengharuskan manajemen financial statements requires management to
untuk membuat pertimbangan, estimasi dan make judgments, estimates and assumptions
asumsi yang mempengaruhi jumlah yang that affect the reported amounts of revenues,
dilaporkan dari pendapatan, beban, aset dan expenses, assets and liabilities, and the
liabilitas, dan pengungkapan atas liabilitas disclosure of contingent liabilities, at the end of
kontinjensi, pada akhir periode pelaporan. the reporting period. Uncertainty about these
Ketidakpastian mengenai asumsi dan estimasi assumptions and estimates could result in
tersebut dapat mengakibatkan penyesuaian outcomes that require a material adjustment to
material terhadap nilai tercatat aset dan liabilitas the carrying amount of the asset and liability
dalam periode pelaporan berikutnya. affected in future periods.

Pertimbangan Judgment

Pertimbangan berikut ini dibuat oleh manajemen The following judgments are made by
dalam rangka penerapan kebijakan akuntansi management in the process of applying the
Kelompok Usaha yang memiliki pengaruh paling Group’s accounting policies that have the
signifikan atas jumlah yang diakui dalam laporan most significant effects on the amounts
keuangan konsolidasian: recognized in the consolidated financial
statements:

Pajak Penghasilan Income Tax

Ketidakpastian atas interpretasi dari peraturan Uncertainties exist with respect to the
pajak yang kompleks, perubahan peraturan interpretation of complex tax regulations,
pajak dan jumlah dan timbulnya penghasilan changes in tax laws, and the amount and
kena pajak di masa depan, dapat menyebabkan timing of future taxable income, could
penyesuaian di masa depan atas penghasilan necessitate future adjustments to tax income
dan beban pajak yang telah dicatat. and expense already recorded.

Pertimbangan signifikan dilakukan dalam Judgment is involved in determining the

menentukan provisi atas pajak penghasilan provision for corporate income tax. There are
badan. Terdapat transaksi dan perhitungan certain transactions and computation for which
tertentu yang penentuan pajak akhirnya adalah the ultimate tax determination is uncertain in
tidak pasti dalam kegiatan usaha normal. the ordinary course of business.

Kelompok Usaha mengakui liabilitas atas pajak The Group recognizes liabilities for expected
penghasilan badan berdasarkan estimasi corporate income tax issues based on
apakah akan terdapat tambahan pajak estimates of whether additional corporate
penghasilan badan. income tax will be due.

Tagihan atas Hasil Pemeriksaan Pajak Claims for Tax Refund and Tax Assessments

Berdasarkan peraturan perpajakan yang berlaku Based on the tax regulations currently
saat ini, manajemen mempertimbangkan apakah enacted, the management judged if the
jumlah yang tercatat dalam akun di atas dapat amounts recorded under the above account
dipulihkan dan dikembalikan oleh Kantor Pajak. are recoverable and refundable by the Tax
Penjelasan lebih lanjut atas akun ini Office. Further explanations regarding this
diungkapkan pada Catatan 27. account are provided in Note 27.

58

Annual Report 2024 339

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

y. Ketidakpastian Sumber Estimasi (lanjutan) y. Source of Estimation Uncertainty

(continued)

Pertimbangan (lanjutan) Judgment (continued)

Penentuan Mata Uang Fungsional Determination of Functional Currency

Mata uang fungsional dari setiap entitas dalam The functional currency of each entity in the
Kelompok Usaha adalah mata uang dari Group is the currency from the primary
lingkungan ekonomi utama di mana entitas economic environment where such entity
tersebut beroperasi. Mata uang tersebut adalah operates. Those currencies are the currencies
mata uang yang mempengaruhi pendapatan dan that influence the revenues and costs of each
biaya dari masing-masing entitas. Penentuan respective entity. The determination of
mata uang fungsional bisa membutuhkan functional currency may require judgment due
pertimbangan karena berbagai kompleksitas, to various complexity, among others, the entity
antara lain, suatu entitas dapat bertransaksi may transact in more than one currency in its
dalam lebih dari satu mata uang dalam aktivitas daily business activities.
usahanya sehari-hari.

Estimasi dan Asumsi Estimates and Assumptions

Asumsi utama masa depan dan ketidakpastian The key assumptions concerning the future
sumber estimasi utama yang lain pada tanggal and other key sources of estimation
pelaporan yang memiliki risiko signifikan bagi uncertainty at the reporting date that have a
penyesuaian yang material terhadap nilai significant risk of causing a material
tercatat aset dan liabilitas untuk tahun berikutnya adjustment to the carrying amounts of assets
diungkapkan di bawah ini. Kelompok Usaha and liabilities within the next financial year are
mendasarkan asumsi dan estimasi pada disclosed below. The Group based its
parameter yang tersedia pada saat laporan assumptions and estimates on parameters
keuangan konsolidasian disusun. Asumsi dan available when the consolidated financial
situasi mengenai perkembangan masa depan statements were prepared. Existing
mungkin berubah akibat perubahan pasar atau circumstances and assumptions about future
situasi di luar kendali Kelompok Usaha. developments may change due to market
Perubahan tersebut dicerminkan dalam asumsi changes or circumstances arising beyond the
terkait pada saat terjadinya. control of the Group. Such changes are
reflected in the assumptions when they occur.

59

340 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

y. Ketidakpastian Sumber Estimasi (lanjutan) y. Source of Estimation Uncertainty

(continued)

Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)

Provisi Kerugian Kredit Ekspektasian (KKE) atas Provision for Expected Credit Losses (ECL) of
Piutang Usaha Trade Receivable

Kelompok Usaha menetapkan estimasi The Group estimates impairment allowance

penyisihan penurunan nilai piutang usaha for trade receivables using simplified approach
menggunakan pendekatan yang of ECL. The Group mainly uses individual
disederhanakan dari KKE. Kelompok Usaha impairment assessment for various customers
terutama menggunakan penilaian penurunan in respect to provide allowance for ECL of
nilai secara individu untuk sejumlah pelanggan trade receivables at the reporting date. In
dalam melakukan pencadangan KKE atas general, in assessing the individual basis of
piutang usaha pada tanggal pelaporan. Secara impairment of trade receivables, management
umum, dalam menilai penurunan nilai secara exercised judgments to evaluate the
individu atas piutang usaha, manajemen collectability from individual customers after
menggunakan pertimbangan untuk taking into account their creditworthiness,
mengevaluasi kolektibilitas dari pelanggan whether they have financial difficulties,
secara individual dengan mempertimbangkan experience of default or delinquency in interest
kelayakan kredit pelanggan, kesulitan finansial or principal payments, the probability that they
yang dialami pelanggan, pengalaman gagal will enter bankruptcy and aging analysis, and
bayar atau tunggakan pembayaran bunga atau if applicable, the fair value of collateral
pokok, probabilitas pelanggan akan mengalami provided by customers. This involves
kebangkrutan dan analisis umur jatuh tempo, judgment as the allowance for ECL must
dan bila dapat diterapkan, nilai wajar jaminan reflect information about past events, current
yang diberikan oleh pelanggan. Hal ini conditions and forecasts of future conditions,
melibatkan pertimbangan bahwa cadangan KKE as well as the time value of money.
harus mencerminkan informasi peristiwa masa
lalu, masa kini, dan informasi yang bersifat
perkiraan masa depan, serta nilai waktu uang.

Kelompok Usaha juga menggunakan matriks The Group also uses a provision matrix to
provisi untuk menghitung KKE untuk piutang calculate ECLs for trade receivables. The
usaha. Tingkat provisi didasarkan pada hari provision rates are based on days past due for
lewat jatuh tempo untuk pengelompokan groupings of various customer segments that
berbagai segmen pelanggan yang memiliki pola have similar loss patterns (i.e., by geography,
kerugian yang serupa (yaitu, berdasarkan product type, customer type and rating, and
wilayah geografis, jenis produk, jenis dan coverage by letters of credit and other forms of
peringkat pelanggan, dan pertanggungan credit insurance).
berdasarkan surat kredit dan bentuk asuransi
kredit lainnya).

60

Annual Report 2024 341

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

y. Ketidakpastian Sumber Estimasi (lanjutan) y. Source of Estimation Uncertainty

(continued)

Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)

Provisi Kerugian Kredit Ekspektasian (KKE) atas Provision for Expected Credit Losses (ECL) of
Piutang Usaha (lanjutan) Trade Receivable (continued)

Matriks provisi pada awalnya didasarkan pada The provision matrix is initially based on the
tingkat gagal bayar Kelompok Usaha yang Group’s historical observed default rates. The
diamati secara historis. Kelompok Usaha akan Group will calibrate the matrix to adjust the
mengkalibrasi matriks untuk menyesuaikan historical credit loss experience with forward-
pengalaman kerugian kredit historis dengan looking information. For instance, if forecast
informasi yang bersifat perkiraan masa depan economic conditions (i.e., crude oil,
(forward-looking). Misalnya, jika perkiraan consumption rate, inflation rate, oil west texas
kondisi ekonomi (yaitu, minyak mentah, tingkat intermediate, crude palm oil, palm oil, GDP
konsumsi, tingkat inflasi, oil west texas growth, BI-7 days Repo Rate, Jakarta
intermediate, minyak sawit mentah, minyak Composite Index) are expected to
kelapa sawit, pertumbuhan ekonomi, BI-7 days deteriorate/recover over the next year which
repo rate, Jakarta Composite Index) can lead to an increased number of defaults in
diekspektasikan akan memburuk/membaik pada the industrial sector, the historical default rates
tahun berikutnya yang dapat menyebabkan are adjusted. At every reporting date, the
peningkatan jumlah gagal bayar di sektor historical observed default rates are updated
industri, tingkat gagal bayar historis disesuaikan. and changes in the forward-looking estimates
Pada setiap tanggal pelaporan, tingkat gagal are analyzed.
bayar yang diamati secara historis diperbarui
dan perubahan dalam estimasi perkiraan masa
depan dianalisis.

Penilaian korelasi antara tingkat default yang The assessment of the correlation between
diamati secara historis, prakiraan kondisi historical observed default rates, forecast
ekonomi, dan KKE adalah estimasi yang economic conditions and ECLs is a significant
signifikan. Jumlah KKE sensitif terhadap estimate. The amount of ECLs is sensitive to
perubahan keadaan dari informasi pelanggan changes in circumstances of customer
dan prakiraan kondisi ekonomi. Pengalaman information and of forecast economic
kerugian kredit historis Kelompok Usaha dan conditions. The Group’s historical credit loss
perkiraan kondisi ekonomi mungkin juga tidak experience and forecast of economic
mewakili gagal bayar pelanggan yang conditions may also not be representative of
sebenarnya di masa depan. Informasi tentang customer’s actual default in the future. The
KKE pada piutang usaha Kelompok Usaha information about the ECLs on the Group’s
diungkapkan dalam Catatan 5. trade receivables is disclosed in Note 5.

Sewa Leases

Kelompok Usaha tidak dapat dengan mudah The Group can not readily determine the
menentukan tingkat bunga implisit dalam sewa, implicit interest rate in the lease, therefore, the
oleh karena itu Kelompok Usaha menggunakan Group uses the Incremental Borrowing Rate
suku bunga pinjaman tambahan (“IBR”) untuk (“IBR”) to measure lease liabilities. There are
mengukur liabilitas sewa. Ada sejumlah faktor number factors to consider in determining an
yang perlu dipertimbangkan dalam menentukan incremental borrowing rate. The Group
IBR. Kelompok Usaha mempertimbangkan considers the following main factors: the
faktor-faktor utama berikut: risiko kredit Company’s corporate credit risk, the lease
perusahaan, jangka waktu sewa, jangka waktu term, the lease payment term, the time at
pembayaran sewa, waktu di mana sewa which the lease is entered into, and the
dimasukkan, dan mata uang di mana currency in which the lease payments are
pembayaran sewa dalam denominasi. denominated.
61

342 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

y. Ketidakpastian Sumber Estimasi (lanjutan) y. Source of Estimation Uncertainty

(continued)

Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)

Sewa (lanjutan) Leases (continued)

Dalam menentukan jangka waktu sewa, In determining the lease term, the Company
Perusahaan mempertimbangkan semua fakta considers all facts and circumstances that
dan keadaan yang menciptakan insentif ekonomi create an economic incentive to exercise an
untuk menggunakan opsi perpanjangan, atau extension option, or not exercise a termination
tidak menggunakan opsi terminasi. Opsi option. Extension options (or periods after
perpanjangan (atau periode setelah opsi termination options) are only included in the
pemutusan hubungan kerja) hanya termasuk lease term if the lease is reasonably certain to
dalam jangka waktu sewa jika sewa tersebut be extended (or not terminated).
dipastikan akan diperpanjang (atau tidak
dihentikan).

Pensiun dan Imbalan Kerja Pension and Employee Benefits

Pengukuran liabilitas imbalan kerja Kelompok The measurement of the Group’ employee
Usaha bergantung pada pemilihan asumsi yang benefits liability is dependent on its selection
digunakan oleh aktuaris independen dalam of certain assumptions used by the
menghitung jumlah-jumlah tersebut. Asumsi independent actuaries in calculating such
tersebut termasuk antara lain, tingkat diskonto, amounts. Those assumptions include among
tingkat kenaikan gaji tahunan, tingkat others, discount rates, future annual salary
pengunduran diri karyawan tahunan, tingkat increase, annual employee turn-over rate,
kecacatan, umur pensiun dan tingkat kematian. disability rate, retirement age and mortality
Keuntungan atau kerugian aktuarial yang timbul rate. Actuarial gains or losses arising from
dari penyesuaian dan perubahan dalam asumsi- experience adjustments and changes in
asumsi aktuarial diakui secara langsung pada actuarial assumptions are recognized
laporan posisi keuangan konsolidasian dengan immediately in the consolidated statement of
debit atau kredit ke saldo laba melalui PKL dalam financial position with a corresponding debit or
periode terjadinya. credit to retained earnings through OCI in the
period which they occur.

Sementara Kelompok Usaha berkeyakinan While the Group believes that its assumptions
bahwa asumsi tersebut adalah wajar dan sesuai, are reasonable and appropriate, significant
perbedaan signifikan pada hasil aktual atau differences in the Group’s actual experiences
perubahan signifikan dalam asumsi yang or significant changes in the Group’s
ditetapkan Kelompok Usaha dapat assumptions may materially affect its
mempengaruhi secara material liabilitas estimated liabilities for pension and employee
diestimasi atas pensiun dan imbalan kerja dan benefits and net employee benefits expense.
beban imbalan kerja neto.

Nilai tercatat atas estimasi liabilitas imbalan kerja The carrying amounts of the Group’s
Kelompok Usaha pada tanggal-tanggal estimated employee benefits liabilities at
pelaporan diungkapkan dalam Catatan 29. reporting dates are disclosed in Note 29.

62

Annual Report 2024 343

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

y. Ketidakpastian Sumber Estimasi (lanjutan) y. Source of Estimation Uncertainty

(continued)

Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)

Pembayaran berbasis saham Share-based payments

Dalam mengestimasi nilai wajar untuk transaksi Estimating fair value for share-based payment
pembayaran berbasis saham memerlukan transactions requires determination of the
penentuan model penilaian yang paling tepat, most appropriate valuation model, which
yang bergantung pada syarat dan ketentuan depends on the terms and conditions of the
pemberian. Estimasi ini juga membutuhkan grant. This estimate also requires
penentuan input yang paling tepat untuk model determination of the most appropriate inputs to
penilaian termasuk umur ekspektasian dari opsi the valuation model including the expected life
saham, volatilitas dan hasil dividen dan membuat of the share option, volatility and dividend yield
asumsi atas hal tersebut. Untuk pengukuran nilai and making assumptions about them. For the
wajar transaksi yang diselesaikan dengan measurement of the fair value of equity-settled
ekuitas dengan karyawan pada tanggal transactions with employees at the grant date,
pemberian, Kelompok Usaha menggunakan the Group uses black-scholes model. The
model black-scholes. Asumsi dan model yang assumptions and models used for estimating
digunakan untuk mengestimasi nilai wajar fair value for share-based payment
transaksi pembayaran berbasis saham transactions are disclosed in Note 21.
diungkapkan dalam Catatan 21.

Penyusutan Aset Tetap Depreciation of Property, Plant and Equipment

(PPE)

Biaya perolehan aset tetap disusutkan dengan The costs of PPE are depreciated on a
menggunakan metode garis lurus berdasarkan straight-line method over their estimated
estimasi masa manfaat ekonomisnya, kecuali useful lives, except for landrights which is not
hak atas tanah tidak diamortisasi. Manajemen amortized. Management estimates the useful
mengestimasi masa manfaat ekonomis aset lives of these PPE to be within 2 to 30 years.
tetap antara 2 sampai dengan 30 tahun. Umur These are common life expectancies applied
masa manfaat ini adalah umur yang secara in the industries where the Group conducts its
umum diharapkan dalam industri di mana businesses. Changes in the expected level of
Kelompok Usaha menjalankan bisnisnya. usage and technological development could
Perubahan tingkat pemakaian dan impact the economic useful lives and the
perkembangan teknologi dapat mempengaruhi residual values of these assets and therefore
masa manfaat ekonomis dan nilai sisa aset, dan future depreciation charges could be revised.
karenanya biaya penyusutan masa depan The net carrying amounts of the Group’s PPE
mungkin direvisi. Nilai tercatat neto atas aset at reporting dates are disclosed in Note 10.
tetap Kelompok Usaha pada tanggal-tanggal
pelaporan diungkapkan dalam Catatan 10.

63

344 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

y. Ketidakpastian Sumber Estimasi (lanjutan) y. Source of Estimation Uncertainty

(continued)

Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)

Penurunan Nilai Aset Non-Keuangan Impairment of Non-Financial Assets

Penurunan nilai terjadi pada saat nilai tercatat An impairment exists when the carrying value
aset atau UPK melebihi jumlah terpulihkannya, of an asset or CGU exceeds its recoverable
yaitu yang lebih tinggi antara nilai wajar dikurangi amount, which is the higher of its fair value
biaya untuk menjual dan nilai pakainya. Nilai less costs to sell and its value in use. The fair
wajar dikurangi biaya untuk menjual dan nilai value less costs to sell and the value in use
pakai diestimasi berdasarkan arus kas masa are estimated based on the net future cash
depan neto yang didiskontokan ke nilai kini flows discounted to their present values using
dengan menggunakan tingkat diskonto sebelum a pre-tax discount rate that reflects current
pajak yang menggambarkan penilaian pasar kini market assessments of the time value of
dari nilai waktu uang dan risiko spesifik atas UPK money and the specific risks to the related
terkait. CGU.

Nilai terpulihkan paling sensitif terhadap tingkat The recoverable amount is most sensitive to
diskonto yang digunakan untuk model arus kas the discount rate used for the discounted cash
yang didiskontokan seperti halnya dengan arus flow model as well as the expected future
kas masuk masa depan yang diharapkan dan cash inflows and the growth rate used for
tingkat pertumbuhan yang digunakan untuk extrapolation purposes. The management
tujuan ekstrapolasi. Manajemen berkeyakinan believes that no impairment loss is required at
bahwa tidak diperlukan pencatatan kerugian reporting dates.
penurunan nilai pada tanggal-tanggal pelaporan.

Aset Pajak Tangguhan Deferred Tax Assets

Aset pajak tangguhan diakui atas seluruh rugi Deferred tax assets are recognized for all
fiskal yang belum digunakan sepanjang besar unused tax losses to the extent that it is
kemungkinannya bahwa penghasilan kena pajak probable that taxable profit will be available
akan tersedia, sehingga rugi fiskal tersebut dapat against which the tax losses can be utilized.
digunakan. Estimasi signifikan oleh manajemen Significant management estimates are
diharuskan dalam menentukan jumlah aset pajak required to determine the amount of deferred
tangguhan yang dapat diakui berdasarkan saat tax assets that can be recognized based upon
penggunaan dan tingkat penghasilan kena pajak the likely timing and the level of future taxable
serta strategi perencanaan pajak masa depan. profits together with future tax planning
strategies.

64

Annual Report 2024 345

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)
y. Ketidakpastian Sumber Estimasi (lanjutan) y. Source of Estimation Uncertainty
(continued)

Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)

Penyisihan Penurunan Nilai Pasar dan Allowance for Decline in Market Values and
Keusangan Persediaan Obsolescence of Inventories

Penyisihan nilai realisasi neto persediaan Allowance for net realizable value of
diestimasi berdasarkan fakta dan situasi yang inventories is estimated based on the best
tersedia, termasuk namun tidak terbatas kepada, available facts and circumstances, including
kondisi fisik persediaan yang dimiliki, harga jual but not limited to, the inventories’ own physical
pasar, estimasi biaya penyelesaian dan estimasi conditions, their market selling prices,
biaya yang timbul untuk penjualan. Penyisihan estimated costs of completion and estimated
dievaluasi kembali dan disesuaikan jika terdapat costs to be incurred for their sales. The
tambahan informasi yang mempengaruhi jumlah allowance is re-evaluated and adjusted as
yang diestimasi. Nilai tercatat persediaan additional information received affects the
Kelompok Usaha sebelum penyisihan nilai amount estimated. The carrying amount of the
realisasi neto diungkapkan dalam Catatan 6. Group’s inventories before allowance for net
realizable value are disclosed in Note 6.

z. Perubahan Kebijakan Akuntansi z. Changes in Accounting Principles

Kelompok Usaha menerapkan pertama kali The Group made first time adoption of all the
seluruh standar baru dan/atau yang direvisi new and/or revised standards effective for the
yang berlaku efektif untuk periode yang periods beginning on or after January 1, 2024,
berlaku pada atau setelah 1 Januari 2024, including the following revised standards that
termasuk standar yang direvisi berikut have affected the consolidated financial
ini yang mempengaruhi laporan keuangan statements of the Group:
konsolidasian Kelompok Usaha:

Nomenklatur Standar Akuntansi Keuangan Financial Accounting Standards Nomenclature

Penomoran baru untuk setiap PSAK dan ISAK The new reference numbers of individual
diurut ulang dan diubah sebagaimana yang PSAK and ISAK are reordered and amended
dipublikasikan oleh DSAK IAI untuk periode based on those as published by DSAK IAI for
akuntansi yang dimulai pada dan setelah accounting periods beginning on and after
1 Januari 2024. Isi dari PSAK dan ISAK terkait January 1, 2024. Contents of related PSAK
tidak berubah dan tidak menimbulkan dampak and ISAK are not changed and not resulted in
akuntansi pada laporan keuangan konsolidasi. any accounting impact to the consolidated
financial statements.

65

346 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

z. Perubahan Kebijakan Akuntansi (lanjutan) z. Changes in Accounting Principles

(continued)

Kelompok Usaha menerapkan pertama kali The Group made first time adoption of all the
seluruh standar baru dan/atau yang direvisi new and/or revised standards effective for the
yang berlaku efektif untuk periode yang periods beginning on or after January 1, 2024,
berlaku pada atau setelah 1 Januari 2024, including the following revised standards that
termasuk standar yang direvisi berikut have affected the consolidated financial
ini yang mempengaruhi laporan keuangan statements of the Group: (continued)
konsolidasian Kelompok Usaha: (lanjutan)

Amandemen PSAK 201 (sebelumnya dirujuk Amendment of PSAK 201 (previously referred
sebagai PSAK 1): Liabilitas Jangka Panjang to as PSAK 1): Non-current Liabilities with
dengan Kovenan Covenants

Amandemen ini menentukan persyaratan untuk The amendments specify the requirements for
mengklasifikasikan suatu liabilitas sebagai classifying liabilities as current or non-current
jangka pendek atau jangka panjang dan and clarify:
menjelaskan:
· hal yang dimaksud sebagai hak untuk · what is meant by a right to defer settlement,
menangguhkan pelunasan,
· hak untuk menangguhkan pelunasan harus · the right to defer must exist at the end of
ada pada akhir periode pelaporan, the reporting period,
· klasifikasi tersebut tidak dipengaruhi oleh · classification is not affected by the
kemungkinan entitas akan menggunakan likelihood that an entity will exercise its
hakya untuk menangguhkan liabilitas, dan deferral right, and
· bahwa jika derivatif melekat pada liabilitas · that if an embedded derivative in a
yang dapat dikonversi dianggap sebagai convertible liability is considred as an
instrumen ekuitas, maka ketentuan liabilitas equity instrument, the terms of the liability
ini tidak akan mempengaruhi klasifikasinya would not affect its classification as current
sebagai lancar atau tidak lancar. or non-current.

Selain itu, entitas diwajibkan untuk In addition, an entity is required to disclose

mengungkapkan ketika liabilitas, yang timbul dari when a liability, arising from a loan agreement,
perjanjian pinjaman, diklasifikasikan sebagai is classified as non-current and the entity’s
tidak lancar dan hak entitas untuk menunda right to defer settlement is contingent on
penyelesaian bergantung pada kepatuhan compliance with future covenants within twelve
terhadap kovenan di masa depan dalam waktu months.
dua belas bulan.

Amandemen ini tidak memiliki dampak terhadap The amendments had no impact on the
laporan keuangan konsolidasian Kelompok Group’s consolidated financial statements.
Usaha.

66

Annual Report 2024 347

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING

MATERIAL (lanjutan) POLICIES INFORMATION (continued)

z. Perubahan Kebijakan Akuntansi (lanjutan) z. Changes in Accounting Principles

(continued)

Kelompok Usaha menerapkan pertama kali The Group made first time adoption of all the
seluruh standar baru dan/atau yang direvisi new and/or revised standards effective for the
yang berlaku efektif untuk periode yang periods beginning on or after January 1, 2024,
berlaku pada atau setelah 1 Januari 2024, including the following revised standards that
termasuk standar yang direvisi berikut have affected the consolidated financial
ini yang mempengaruhi laporan keuangan statements of the Group: (continued)
konsolidasian Kelompok Usaha: (lanjutan)

Amandemen PSAK 116 (sebelumnya dirujuk Amendment of PSAK 116 (previously referred
sebagai PSAK 73): Liabilitas Sewa dalam Jual to as PSAK 73): Lease liability in a Sale and
Beli dan Sewa-balik Leaseback

Amandemen PSAK 116: Sewa menetapkan The amendment to PSAK 116: Leases
persyaratan yang digunakan penjual-penyewa specifies the requirements that a seller-lessee
dalam mengukur kewajiban sewa yang timbul uses in measuring the lease liability arising in
dalam transaksi jual beli dan sewa-balik, untuk a sale and leaseback transaction, to ensure
memastikan penjual-penyewa tidak mengakui the seller-lessee does not recognize any
jumlah setiap keuntungan atau kerugian yang amount of the gain or loss that relates to the
terkait dengan hak guna yang dipertahankan. right of use it retains.

Amandemen ini tidak memiliki dampak terhadap The amendments had no impact on the
laporan keuangan konsolidasian Kelompok Group’s consolidated financial statements.
Usaha.

Amandemen PSAK 207 (sebelumnya dirujuk Amendment of PSAK 207 (previously referred
sebagai PSAK 2) dan PSAK 107 (sebelumnya to as PSAK 2) and PSAK 107 (previously
dirujuk sebagai PSAK 60): Pengaturan referred to as PSAK 60): Supplier Finance
Pembiayaan Pemasok Arrangements

Amandemen PSAK 207 dan PSAK 107 The amendments to PSAK 207 and PSAK 107
mengklarifikasi karakteristik pengaturan clarify the characteristics of supplier finance
pembiayaan pemasok dan mensyaratkan arrangements and require additional
pengungkapan tambahan atas pengaturan disclosure of such arrangements. The
pembiayaan pemasok tersebut. Persyaratan disclosure requirements in the amendments
pengungkapan dalam amandemen ini are intended to assist users of financial
dimaksudkan untuk membantu pengguna statements in understanding the effects of
laporan keuangan dalam memahami dampak supplier finance arrangements on an entity’s
pengaturan pembiayaan pemasok terhadap liabilities, cash flows and exposure to liquidity
liabilitas, arus kas, dan eksposur terhadap risiko risk.
likuiditas suatu entitas.

Amandemen ini tidak memiliki dampak terhadap The amendments had no impact on the
laporan keuangan konsolidasian Kelompok Group’s consolidated financial statements.
Usaha.

67

348 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

3. NILAI WAJAR ASET DAN LIABILITAS KEUANGAN 3. FAIR VALUE OF FINANCIAL ASSETS AND
LIABILITIES

Instrumen keuangan yang disajikan dalam laporan Financial instruments presented in the
posisi keuangan konsolidasian dicatat sebesar nilai consolidated statement of financial position are
wajar, atau disajikan dalam jumlah tercatat baik carried at fair value, otherwise, they are presented
karena jumlah tersebut adalah kurang lebih sebesar at carrying amounts as either these are reasonable
nilai wajarnya atau karena nilai wajarnya tidak dapat approximation of fair values, or their fair values
diukur secara handal. cannot be reliably measured.

Nilai wajar aset dan liabilitas keuangan disajikan The fair values of the financial assets and liabilities
dalam jumlah dimana instrumen tersebut dapat are presented at the amounts which instruments
dipertukarkan dalam transaksi kini antara pihak-pihak could be exchanged in a current transaction
yang berkeinginan (willing parties), bukan dalam between willing parties, not in a forced sale or
penjualan akibat kesulitan keuangan atau likuidasi liquidation.
yang dipaksakan.

Metode dan asumsi berikut ini digunakan untuk The following methods and assumptions were
mengestimasi nilai wajar untuk setiap kelompok used to estimate the fair value of each class of
instrumen keuangan yang praktis untuk financial instruments for which it is practicable to
memperkirakan nilai tersebut: estimate such value:

1. Kas dan setara kas, piutang usaha - neto, 1. Cash and cash equivalents, trade receivables
piutang lain-lain dan aset lancar lainnya. - net, other receivables and other current
assets.

Seluruh aset keuangan tersebut merupakan aset All these financial assets are short-term
keuangan jangka pendek yang akan jatuh tempo financial assets that will due within
dalam waktu 12 bulan, sehingga nilai tercatat 12 months, thus the carrying values of the
aset keuangan tersebut kurang lebih telah financial assets approximate their fair values.
mencerminkan nilai wajarnya. Piutang forward Forward receivables are carried at their fair
dicatat sebesar nilai wajarnya dengan values using forward pricing model.
menggunakan model forward pricing.

2. Aset keuangan tidak lancar. 2. Non-current financial assets.

Aset keuangan yang disajikan pada akun ini The financial assets presented in this account
merupakan piutang usaha jangka panjang dari comprises of long-term trade receivables from
pihak ketiga - neto dan uang jaminan. third parties - net and refundable deposits.

Piutang usaha jangka panjang dari pihak ketiga - Long-term trade receivables from third parties
neto merupakan aset keuangan yang tidak - net are financial assets which bear no interest
dikenakan bunga dan disajikan pada nilai kini and are presented at the net present value of
dari estimasi penerimaan kas di masa the estimated future cash receipts using
mendatang dengan menggunakan bunga pasar market interest rate available for debt with
yang tersedia untuk instrumen yang kurang lebih approximately similar characteristics.
sejenis.

68

Annual Report 2024 349

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

3. NILAI WAJAR ASET DAN LIABILITAS KEUANGAN 3. FAIR VALUE OF FINANCIAL ASSETS AND
(lanjutan) LIABILITIES (continued)

Metode dan asumsi berikut ini digunakan untuk The following methods and assumptions were used
mengestimasi nilai wajar untuk setiap kelompok to estimate the fair value of each class of financial
instrumen keuangan yang praktis untuk instruments for which it is practicable to estimate
memperkirakan nilai tersebut: (lanjutan) such value: (continued)

3. Hutang bank jangka pendek, hutang usaha, 3. Short-term bank loan, trade payables, other
hutang lain-lain - pihak ketiga, biaya yang masih payables - third parties, accrued expenses,
harus dibayar, liabilitas sewa jangka pendek dan current lease liabilities and dividend payable.
hutang dividen.

Seluruh liabilitas keuangan tersebut merupakan All these financial liabilities are due within 12
liabilitas jangka pendek yang akan jatuh tempo months thus the carrying value of the financial
dalam waktu 12 bulan, sehingga nilai tercatat liabilities approximate their fair values.
liabilitas keuangan tersebut kurang lebih telah Forward payables are carried at their fair
mencerminkan nilai wajarnya. Hutang forward values using forward pricing model.
dicatat sebesar nilai wajarnya dengan
menggunakan model forward pricing.

4. Hutang bank jangka panjang dan lainnya dan 4. Long-term bank loans and others and bonds
hutang obligasi, termasuk bagian jatuh tempo payables, including their current maturities,
dalam waktu satu tahun, liabilitas sewa jangka non-current lease liabilities, and dividend
panjang, dan hutang dividen. payable.

Hutang bank jangka panjang dan lainnya The long-term bank loans and others are
merupakan pinjaman yang memiliki suku bunga liabilities with floating market interest rates,
pasar variabel, sehingga nilai tercatat liabilitas thus the carrying values of the financial
keuangan tersebut kurang lebih telah liabilities approximate their fair values. Bonds
mencerminkan nilai wajarnya. Hutang obligasi payables are liabilities with fixed interest rates,
merupakan pinjaman yang memiliki suku bunga however the fair value is not significant
tetap, namun nilai wajarnya tidak berubah secara changed compared to its carrying value.
signifikan dibandingkan dengan nilai tercatatnya.

Liabilitas sewa disajikan pada nilai kini dari Lease liabilities are presented at the net
estimasi pengeluaran kas di masa mendatang present value of the estimated future cash
dengan menggunakan suku bunga inkremental flows using incremental borrowing rate for debt
untuk pinjaman yang kurang lebih sejenis. with approximately similar characteristic.

69

350 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

4. KAS DAN SETARA KAS 4. CASH AND CASH EQUIVALENTS

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Kas 17.426.643 26.742.962 Cash on hand

Bank - Pihak ketiga Cash in banks - Third parties

Rupiah Rupiah
PT Bank Permata Tbk 627.674.517 413.842.845 PT Bank Permata Tbk
PT Bank Maybank lndonesia Tbk 585.459.238 358.853.539 PT Bank Maybank lndonesia Tbk
PT Bank Mandiri (Persero) Tbk 366.680.948 888.351.064 PT Bank Mandiri (Persero) Tbk
PT Bank Danamon Indonesia Tbk 224.267.994 40.542.175 PT Bank Danamon Indonesia Tbk
PT Bank Negara Indonesia (Persero) Tbk 157.496.577 1.091.804.233 PT Bank Negara Indonesia (Persero) Tbk
PT Bank Mizuho Indonesia 100.930.538 33.723.058 PT Bank Mizuho Indonesia
PT Bank Central Asia Tbk 65.335.912 213.078.797 PT Bank Central Asia Tbk
PT Bank Rakyat Indonesia (Persero) Tbk 47.627.325 217.460.162 PT Bank Rakyat Indonesia (Persero) Tbk
PT Bank CIMB Niaga Tbk 39.918.511 11.299.771 PT Bank CIMB Niaga Tbk
Standard Chartered Bank 38.127.241 3.894.052 Standard Chartered Bank
Lain-lain 236.103 807.040 Others

Dolar AS US Dollar
PT Bank Negara Indonesia (Persero) Tbk 752.997.395 662.127.846 PT Bank Negara Indonesia (Persero) Tbk
PT Bank Mandiri (Persero) Tbk 741.453.126 1.164.414.872 PT Bank Mandiri (Persero) Tbk
PT Bank Rakyat Indonesia (Persero) Tbk 669.148.128 5.161.084 PT Bank Rakyat Indonesia (Persero) Tbk
PT Bank Maybank lndonesia Tbk 411.783.104 277.461.841 PT Bank Maybank lndonesia Tbk
PT Bank Permata Tbk 24.051.602 300.317.494 PT Bank Permata Tbk
Standard Chartered Bank 6.019.810 12.349.729 Standard Chartered Bank
PT Bank Danamon Indonesia Tbk 3.550.427 459.006.006 PT Bank Danamon Indonesia Tbk
PT Bank Mizuho Indonesia 1.838.536 74.097.160 PT Bank Mizuho Indonesia
Lain-lain 10.093.192 16.824.510 Others

Lainnya 1.937.864 1.401.681 Others

Sub-total 4.876.628.088 6.246.818.959 Sub-total

Deposito berjangka - Pihak ketiga Time deposits - Third parties

Rupiah Rupiah
PT Bank Maybank lndonesia Tbk 246.000.000 145.000.000 PT Bank Maybank lndonesia Tbk
PT Bank Permata Tbk 112.850.000 63.755.440 PT Bank Permata Tbk
PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah
Jawa Timur Tbk 27.500.000 - Jawa Timur Tbk
PT Bank Negara Indonesia (Persero) Tbk 25.000.000 - PT Bank Negara Indonesia (Persero) Tbk
PT Bank BTPN Syariah Tbk 5.000.000 - PT Bank BTPN Syariah Tbk
PT Bank Central Asia Syariah - 53.000.000 PT Bank Central Asia Syariah

Dolar AS US Dollar
DBS Bank Singapore 53.137.186 - DBS Bank Singapore
PT Bank Maybank lndonesia Tbk 2.449.691 - PT Bank Maybank lndonesia Tbk
PT Bank Permata Tbk - 308.320 PT Bank Permata Tbk

Sub-total 471.936.877 262.063.760 Sub-total

Total 5.365.991.608 6.535.625.681 Total

Rekening bank dari JTT, Entitas Anak, sebesar The bank accounts of a Subsidiary,
Rp69.268.422 pada tanggal 31 Desember 2023 JTT, amounting to Rp69,268,422 as of
dijadikan jaminan terhadap pinjaman bank yang December 31, 2023 are pledged as collateral to the
diperoleh JTT dari PT Bank Permata Tbk. JTT loan obtained by JTT from PT Bank Permata Tbk.
diperkenankan menggunakan kas tersebut untuk JTT is allowed to utilize the cash for its operating
aktivitas operasinya tanpa harus meminta activities without prior written approval from the
persetujuan tertulis terlebih dahulu dari bank, bank provided there is no event of default
sepanjang tidak terdapat wanprestasi (event of (Note 18).
default) (Catatan 18).

70

Annual Report 2024 351

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

4. KAS DAN SETARA KAS (lanjutan) 4. CASH AND CASH EQUIVALENTS (continued)

Tingkat suku bunga deposito per tahun pada tanggal Interest rates on time deposits per year as of
31 Desember 2024 dan 2023 adalah sebagai berikut: December 31, 2024 and 2023 are as follows:
31 Des. 2024/ 31 Des. 2023/
Dec. 31, 2024 Dec. 31, 2023

Rupiah 4,70% - 7,00% 4,15% - 6,25% Rupiah

Dolar AS 3,83% - 5,30% 0,25% US Dollar

5. PIUTANG 5. ACCOUNT RECEIVABLES

a. Piutang Usaha a. Trade Receivables

Berdasarkan pelanggan: By debtor:
31 Des. 2024/ 31 Des. 2023/
Dec. 31, 2024 Dec. 31, 2023

Pihak berelasi (Catatan 32) 943.477 132.880 Related parties (Note 32)
Pihak ketiga 8.034.325.171 6.975.564.287 Third parties
Dikurangi: Less:
Penyisihan kerugian Allowance for
kredit ekspektasian (99.124.121) (94.400.857) expected credit losses
Penyesuaian nilai wajar (68.224.819) (90.473.619) Fair value adjustment

Total 7.867.919.708 6.790.822.691 Total

Dikurangi bagian jangka panjang (304.429.436) (387.378.827) Less non-current portion

Neto 7.563.490.272 6.403.443.864 Net

Berdasarkan umur: By age:

31 Des. 2024/ 31 Des. 2023/
Dec. 31, 2024 Dec. 31, 2023

Belum jatuh tempo 6.903.052.609 6.201.667.295 Not yet due

Jatuh tempo: Past due:
1 - 30 hari 372.181.600 146.730.957 1 - 30 days
31 - 60 hari 131.721.552 63.407.493 31 - 60 days
> 60 hari 581.462.976 501.011.694 > 60 days

Sub-total 7.988.418.737 6.912.817.439 Sub-total

WAPU PPN 46.849.911 62.879.728 VAT Collector

Dikurangi: Less:
Penyisihan kerugian Allowance for
kredit ekspektasian (99.124.121) (94.400.857) expected credit losses
Penyesuaian nilai wajar (68.224.819) (90.473.619) Fair value adjustment

Neto 7.867.919.708 6.790.822.691 Net

71

352 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

5. PIUTANG (lanjutan) 5. ACCOUNT RECEIVABLES (continued)

a. Piutang Usaha (lanjutan) a. Trade Receivables (continued)

Berdasarkan mata uang: By currency:

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Rupiah 4.735.522.348 4.002.178.383 Rupiah

Dolar AS 3.299.746.300 2.973.518.784 US Dollar

Total 8.035.268.648 6.975.697.167 Total

Dikurangi: Less:
Penyisihan kerugian Allowance for
kredit ekspektasian (99.124.121) (94.400.857) expected credit losses
Penyesuaian nilai wajar (68.224.819) (90.473.619) Fair value adjustment

Neto 7.867.919.708 6.790.822.691 Net

Mutasi akun cadangan penyisihan kerugian The changes in the allowance for expected
kredit ekspektasian sebagai berikut: credit losses are as follows:
31 Des. 2024/ 31 Des. 2023/
Dec. 31, 2024 Dec. 31, 2023

Saldo awal 94.400.857 90.186.024 Beginning balance

Penambahan 6.745.429 7.023.055 Additions
Penghapusan (2.022.164) (2.808.222) Written-off

Saldo akhir 99.124.121 94.400.857 Ending balance

Berdasarkan hasil penelaahan terhadap adanya Based on the results of review for impairment
penurunan nilai pada akhir tahun, manajemen at the end of the year, the management
berkeyakinan bahwa penyisihan atas penurunan believes that the above allowance for
nilai piutang usaha di atas cukup untuk menutup impairment of trade receivables is sufficient to
kerugian atas penurunan nilai piutang tersebut. cover losses from impairment of such
receivables.

Piutang usaha JTT sebesar Rp30.348.902 pada Trade receivables of JTT amounting to
tanggal 31 Desember 2023 dijadikan jaminan Rp30,348,902 as of December 31, 2023 are
terhadap pinjaman yang diperoleh JTT dari pledged as collateral to the loan obtained by
PT Bank Permata Tbk (Catatan 18). JTT from PT Bank Permata Tbk (Note 18).

b. Piutang Lain-lain b. Other Receivables

31 Des. 2024/ 31 Des. 2023/
Dec. 31, 2024 Dec. 31, 2023

Pihak berelasi Related parties

Lain-lain (Catatan 32) 5.357.930 8.217.551 Others (Note 32)
Pihak ketiga Third parties
Piutang karyawan 5.474.964 6.392.712 Employee receivables
Piutang klaim asuransi 4.409.539 1.624.244 Insurance claim receivables
Lain-lain 29.026.478 40.162.689 Others

Total 38.910.981 48.179.645 Total

Manajemen berpendapat tidak diperlukan Management believes that no allowance for

cadangan kerugian kredit ekspektasian atas expected credit losses on other receivables is
kemungkinan tidak tertagihnya piutang lain-lain. required to cover possible losses on
uncollectible accounts.

72

Annual Report 2024 353

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

6. PERSEDIAAN - NETO 6. INVENTORIES - NET

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Barang jadi 3.290.935.538 2.872.641.059 Finished goods

Bahan baku 124.590.517 218.264.142 Raw materials
Bahan kemasan 3.668.156 3.122.682 Packing materials
Suku cadang dan lain-lain 43.569.320 39.593.619 Spare parts and others

Total 3.462.763.531 3.133.621.502 Total

Persediaan yang dibebankan ke beban pokok Inventories charged to cost of sales and revenues
penjualan dan pendapatan adalah sebesar for the year ended December 31, 2024 amounted
Rp32.272.580.889 pada tahun yang to Rp32,272,580,889 (2023: Rp34,271,941,001)
berakhir pada tanggal 31 Desember 2024 (Note 25).
(2023: Rp34.271.941.001) (Catatan 25).

Manajemen berpendapat bahwa tidak diperlukan Management believes that no allowance for decline
penyisihan penurunan nilai persediaan pada tanggal- in value of inventories is required at reporting
tanggal pelaporan. dates.

Persediaan telah diasuransikan kepada pihak ketiga The inventories are insured to third parties against
terhadap risiko kerugian akibat kebakaran, pencurian losses from fire, theft and other risks under blanket
dan risiko lainnya berdasarkan paket polis policies at reporting dates as mentioned below:
sebagaimana yang dijelaskan di bawah ini:

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Dolar AS 204.178.946 190.627.174 US Dollar

Rupiah 520.364.165 266.882.703 Rupiah

Manajemen Perusahaan berpendapat bahwa nilai Management believes that the insurance coverage
pertanggungan tersebut cukup untuk menutupi is adequate to cover possible losses arising from
kemungkinan timbulnya kerugian akibat risiko such risks.
tersebut.

Nilai asuransi tersebut mencakup asuransi untuk The insurance amounts cover the inventories of the
persediaan milik Kelompok Usaha serta persediaan Group and the inventories of the Company's
milik pelanggan Perusahaan yang berada di bawah customers stored in the Company’s premises,
tanggung jawab Perusahaan. Manajemen which are under the Company's responsibility.
Perusahaan berpendapat bahwa nilai pertanggungan Management believes that the insurance coverage
tersebut cukup untuk menutupi kemungkinan is adequate to cover possible losses arising from
timbulnya kerugian akibat risiko tersebut. such risks.

7. BIAYA DIBAYAR DI MUKA 7. PREPAID EXPENSES

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Asuransi dibayar di muka 23.162.841 20.194.365 Prepaid insurance

Pemeliharaan dibayar di muka 19.402.196 19.478.343 Prepaid maintenance
Perizinan dan lisensi dibayar di muka 16.831.884 18.869.896 Prepaid permits and licenses
Sewa tanah dan bangunan dibayar di muka 2.651.698 5.052.225 Prepaid land and building rents
Lain-lain 19.713.519 10.169.210 Others

Total 81.762.138 73.764.039 Total

73

354 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

8. ASET LANCAR LAINNYA 8. OTHER CURRENT ASSETS

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Tagihan pengembalian pajak

(Catatan 27c) 415.609.983 156.248.399 Claims for tax refund (Note 27c)
Lain-lain 12.800.369 7.752.333 Others

Total 428.410.352 164.000.732 Total

9. INVESTASI PADA ENTITAS ASOSIASI 9. INVESTMENTS IN ASSOCIATES

Perusahaan, melalui Entitas Anaknya, memiliki The Company, through its Subsidiaries, has
investasi dalam entitas-entitas berikut pada tanggal investments in the following entities as of
31 Desember 2024 dan 2023: December 31, 2024 and 2023:
Bagian atas
laba
Persentase Saldo entitas Saldo
Pemilikan/ 1 Jan. 2024/ asosiasi/ 31 Des. 2024/
Percentage Balance Share in profit Pengurangan/ Balance
of Ownership Jan. 1, 2024 of associates Deduction Dec. 31, 2024

Metode Ekuitas Equity Method

PT Berlian Manyar PT Berlian Manyar
Sejahtera (BMS) 40,00% 445.396.947 46.467.083 - 491.864.030 Sejahtera (BMS)
PT Energi Manyar PT Energi Manyar
Sejahtera (EMS) 45,00% 495.793 - - 495.793* Sejahtera (EMS)

Total 445.892.740 46.467.083 - 492.359.823 Total

*) Entitas ini dilikuidasi pada tanggal 17 Januari 2025/This entity is liquidated on January 17, 2025.

Bagian atas
laba
Persentase Saldo entitas Saldo
Pemilikan/ 1 Jan. 2023/ asosiasi/ 31 Des. 2023/
Percentage Balance Share in profit Pengurangan/ Balance
of Ownership Jan. 1, 2023 of associates Deduction Dec. 31, 2023

Metode Ekuitas Equity Method

PT Berlian Manyar PT Berlian Manyar
Sejahtera (BMS) 40,00% 416.804.478 34.534.891 5.942.422 445.396.947 Sejahtera (BMS)
PT Energi Manyar PT Energi Manyar
Sejahtera (EMS) 45,00% 495.793 - - 495.793 Sejahtera (EMS)

Total 417.300.271 34.534.891 5.942.422 445.892.740 Total

Informasi keuangan dari entitas asosiasi yang The financial information of the related associates
bersangkutan adalah sebagai berikut: is as follows:

Laporan posisi keuangan: Statement of financial position:

31 Desember 2024/December 31, 2024

Liabilitas Liabilitas
Aset Jangka Jangka
Aset Lancar/ Tidak Lancar/ Pendek/ Panjang/ Nilai Tercatat/
Current Non-current Current Non-current Agio Saham/ Ekuitas/ Kepentingan/ Carrying
Assets Assets Liabilities Liabilities Share Premium Equity Interest Amount
BMS 201.482.548 1.707.701.498 186.871.344 592.552.627 66.600.000 1.063.160.075 40,00% 491.864.030
EMS 1.101.762 - - - - 1.101.762 45,00% 495.793

31 Desember 2023/December 31, 2023

Liabilitas Liabilitas
Aset Jangka Jangka
Aset Lancar/ Tidak Lancar/ Pendek/ Panjang/ Nilai Tercatat/
Current Non-current Current Non-current Agio Saham/ Ekuitas/ Kepentingan/ Carrying
Assets Assets Liabilities Liabilities Share Premium Equity Interest Amount
BMS 246.490.069 1.583.941.572 100.940.684 715.898.589 66.600.000 946.992.368 40,00% 445.396.947
EMS 1.101.762 - - - - 1.101.762 45,00% 495.793

74

Annual Report 2024 355

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

9. INVESTASI PADA ENTITAS ASOSIASI (lanjutan) 9. INVESTMENTS IN ASSOCIATES (continued)

Informasi keuangan dari entitas asosiasi yang The financial information of the related associates
bersangkutan adalah sebagai berikut: (lanjutan) is as follows: (continued)

Laporan laba rugi dan penghasilan komprehensif lain: Statement of profit or loss and other comprehensive income:

Tahun yang berakhir pada tanggal 31 Desember 2024/

Year ended December 31, 2024
Total Bagian atas
Penghasilan laba
Komprehensif/ entitas
Total asosiasi/
Pendapatan/ Laba Rugi/ Comprehensive Kepentingan/ Share in profit
Revenues Profit or Loss Income Interest of associates

BMS 437.557.810 116.287.344 116.167.707 40,00% 46.467.083 BMS

Tahun yang berakhir pada tanggal 31 Desember 2023/

Year ended December 31, 2023
Total Bagian atas
Penghasilan laba
Komprehensif/ entitas
Total asosiasi/
Pendapatan/ Laba Rugi/ Comprehensive Kepentingan/ Share in profit
Revenues Profit or Loss Income Interest of associates

BMS 251.017.952 86.337.227 86.337.227 40,00% 34.534.891 BMS

Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, management
manajemen berkeyakinan bahwa tidak ada believes that there is no decline in the value of
penurunan nilai investasi pada entitas asosiasi. investment in associates.

UEPN dan PT Berlian Jasa Terminal Indonesia UEPN and PT Berlian Jasa Terminal Indonesia
(“BJTI”) mendirikan BMS di tahun 2012, yang mana (“BJTI”) established BMS in 2012, whereby UEPN
pada tanggal 31 Desember 2024 dan 2023, UEPN as of December 31, 2024 and 2023 has made a
telah melakukan jumlah setoran modal sebesar total contribution of Rp355,000,000 representing
Rp355.000.000 yang mencerminkan kepemilikan 40% ownership in BMS, while BJTI owns 60%.
40% di BMS, sedangkan BJTI memiliki 60%. BMS BMS is part of integrated facilities in JIIPE
adalah bagian dari fasilitas terpadu di JIIPE (Note 33) operating 400ha deep seaport
(Catatan 33) mengoperasikan 400ha pelabuhan laut strategically located in Madura Strait.
dalam yang terletak di lokasi strategis di Selat
Madura.

UEPN mendirikan EMS di tahun 2015. Saat ini UEPN established EMS in 2015. Currently, the
pemegang saham EMS adalah UEPN, BJTI, shareholders of EMS are UEPN, BJTI,
PT Santiniluwansa Lestari dan PT Amanah Indo PT Santiniluwansa Lestari and PT Amanah Indo
Invest. Maksud dan tujuan dari EMS adalah Invest. The purpose and objectives of
menjalankan kegiatan usaha di bidang industri, establishment of EMS is to carry out business
perdagangan, dan jasa pembangkit listrik di activities in the industry sector, trade and services
Surabaya, yang mana pada tanggal 31 Desember of power plant in Surabaya, whereby UEPN as of
2024 dan 2023, UEPN telah melakukan jumlah December 31, 2024 and 2023 has made a total
setoran modal sebesar Rp450.000 yang contribution of Rp450,000 representing 45%
mencerminkan kepemilikan sebesar 45% di EMS. ownership in EMS.

75

356 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

10. ASET TETAP 10. PROPERTY, PLANT AND EQUIPMENT

Selisih Kurs
Karena
Penjabaran
Laporan
Keuangan/
Exchange
Difference Due
to Translation
1 Januari 2024/ Penambahan/ Pengurangan/ Reklasifikasi/ of Financial 31 Desember 2024/
January 1, 2024 Additions Deductions Reclassifications Statements December 31, 2024

Biaya Perolehan: At Cost:

Hak atas tanah 688.562.423 - - - - 688.562.423 Landrights
Bangunan, dermaga, gudang Buildings, jetty, warehouses
dan tangki penyimpanan 4.849.076.763 86.402.093 3.579.289 240.054.433 78.978.051 5.250.932.051 and storage tanks
Mesin dan peralatan 1.016.015.346 47.579.724 9.595.123 159.496.590 5.362.194 1.218.858.731 Machineries and equipment
Peralatan gudang dan
peralatan pembongkaran Warehouse and port handling
di pelabuhan 599.049.778 2.113.647 1.446.802 28.227.955 - 627.944.578 equipment
Kendaraan 423.024.400 41.780.463 41.919.448 45.848.886 9.900 468.744.201 Vehicles
Pengembangan gedung
yang disewa 95.994.119 133.857 64.220 658.951 - 96.722.707 Leasehold improvements
Renovasi gedung 585.409.564 959.294 81.031 25.163.932 - 611.451.759 Building improvements
Peralatan kantor 167.913.293 8.736.097 5.854.363 521.003 (1.685.623) 169.630.407 Office equipment
Kapal 775.412.298 182.139.332 - - - 957.551.630 Vessels
Aset dalam penyelesaian 432.303.690 895.709.708 1.110.892 (489.760.697) 1.149.547 838.291.356 Construction in progress

Total 9.632.761.674 1.265.554.215 63.651.168 10.211.053 83.814.069 10.928.689.843 Total

Akumulasi Penyusutan: Accumulated Depreciation:

Bangunan, dermaga, gudang Buildings, jetty, warehouses
dan tangki penyimpanan 2.248.693.852 213.139.169 3.558.247 - 43.762.653 2.502.037.427 and storage tanks
Mesin dan peralatan 299.398.633 73.683.158 9.346.819 - (3.708.132) 360.026.840 Machineries and equipment
Peralatan gudang dan
peralatan pembongkaran Warehouse and port handling
di pelabuhan 464.344.353 31.595.587 1.196.428 - - 494.743.512 equipment
Kendaraan 266.021.974 23.690.843 37.244.303 - 9.900 252.478.414 Vehicles
Pengembangan gedung
yang disewa 93.893.216 1.089.570 64.220 - - 94.918.566 Leasehold improvements
Renovasi gedung 495.081.680 22.975.601 71.526 - - 517.985.755 Building improvements
Peralatan kantor 108.385.582 10.579.679 5.825.050 - (1.736.069) 111.404.142 Office equipment
Kapal 190.495.488 39.589.822 - - - 230.085.310 Vessels

Total 4.166.314.778 416.343.429 57.306.593 - 38.328.352 4.563.679.966 Total

Nilai Tercatat 5.466.446.896 6.365.009.877 Carrying Amount

Selisih Kurs
Karena
Penjabaran
Laporan
Keuangan/
Exchange
Difference Due
to Translation
1 Januari 2023/ Penambahan/ Pengurangan/ Reklasifikasi/ of Financial 31 Desember 2023/
January 1, 2023 Additions Deductions Reclassifications Statements December 31, 2023

Biaya Perolehan: At Cost:

Hak atas tanah 642.500.941 41.859.908 - 4.201.574 - 688.562.423 Landrights
Bangunan, dermaga, gudang Buildings, jetty, warehouses
dan tangki penyimpanan 4.732.612.449 67.979.108 16.875.946 80.233.317 (14.872.165) 4.849.076.763 and storage tanks
Mesin dan peralatan 735.621.055 329.674.608 54.265.522 8.513.193 (3.527.988) 1.016.015.346 Machineries and equipment
Peralatan gudang dan
peralatan pembongkaran Warehouse and port handling
di pelabuhan 725.703.076 2.606.353 135.877.462 6.617.811 - 599.049.778 equipment
Kendaraan 380.619.672 20.232.911 11.527.956 33.703.955 (4.182) 423.024.400 Vehicles
Pengembangan gedung
yang disewa 93.842.433 632.539 141.276 1.660.423 - 95.994.119 Leasehold improvements
Renovasi gedung 574.373.879 1.256.580 5.852.240 15.631.345 - 585.409.564 Building improvements
Peralatan kantor 161.636.629 8.327.740 3.883.340 2.255.508 (423.244) 167.913.293 Office equipment
Kapal 627.412.317 147.999.981 - - - 775.412.298 Vessels
Aset dalam penyelesaian 298.620.838 312.914.793 - (152.817.126) (26.414.815) 432.303.690 Construction in progress

Total 8.972.943.289 933.484.521 228.423.742 - (45.242.394) 9.632.761.674 Total

Akumulasi Penyusutan: Accumulated Depreciation:

Bangunan, dermaga, gudang Buildings, jetty, warehouses
dan tangki penyimpanan 2.088.358.374 196.147.672 16.864.726 - (18.947.468) 2.248.693.852 and storage tanks
Mesin dan peralatan 289.140.512 66.280.419 54.154.024 - (1.868.274) 299.398.633 Machineries and equipment
Peralatan gudang dan
peralatan pembongkaran Warehouse and port handling
di pelabuhan 519.033.309 33.078.948 87.767.904 - - 464.344.353 equipment
Kendaraan 257.704.798 19.496.649 11.176.535 - (2.938) 266.021.974 Vehicles
Pengembangan gedung
yang disewa 93.100.421 934.071 141.276 - - 93.893.216 Leasehold improvements
Renovasi gedung 462.084.646 38.649.158 5.652.124 - - 495.081.680 Building improvements
Peralatan kantor 102.975.807 10.790.831 3.881.423 - (1.499.633) 108.385.582 Office equipment
Kapal 163.848.590 26.646.898 - - - 190.495.488 Vessels

Total 3.976.246.457 392.024.646 179.638.012 - (22.318.313) 4.166.314.778 Total

Nilai Tercatat 4.996.696.832 5.466.446.896 Carrying Amount

76

Annual Report 2024 357

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

10. ASET TETAP (lanjutan) 10. PROPERTY, PLANT AND EQUIPMENT

(continued)

Sekitar 4,03% pada tanggal 31 Desember 2024 dan Approximately 4.03% as of December 31, 2024
2023 dari keseluruhan luas tanah Perusahaan masih and 2023 of the Company’s total land area is not
belum atas nama Perusahaan. Perusahaan belum under the name of the Company. The Company
melakukan proses balik nama menjadi nama has not applied for the transfers of titles on the
Perusahaan sampai dengan tanggal-tanggal reporting dates. The Building Right Title (Hak
pelaporan. Hak Guna Bangunan (“HGB”) akan Guna Bangunan or “HGB”) expires on various
berakhir pada berbagai tanggal sampai dengan 2053. dates up to 2053. The Management believes that
Manajemen berkeyakinan bahwa kepemilikan hak the said titles of land right ownership can be
atas tanah dapat diperbaharui dan/atau renewed and/or extended.
diperpanjang.

Manajemen berkeyakinan bahwa nilai tercatat aset The management believes that the carrying
tetap tidak melebihi nilai yang dapat diperoleh amounts of the property, plant and equipment do
kembali (recoverable amount) dari aset tetap pada not exceed their recoverable amounts at the
tanggal-tanggal pelaporan. reporting dates.

Biaya penyusutan dibebankan sebagai berikut: Depreciation expense is charged to the following:

Tahun yang Berakhir

Pada Tanggal 31 Desember/
Year Ended December 31,
2024 2023
Beban pokok penjualan dan
pendapatan (Catatan 25) 374.361.894 353.053.151 Cost of sales and revenues (Note 25)
Beban usaha (Catatan 26) 41.981.535 38.971.495 Operating expenses (Note 26)
Total 416.343.429 392.024.646 Total

Rincian laba atas penjualan/pengalihan aset tetap The details of gain on sale/transfer of property,
sebagai berikut: plant and equipment are as follows:

Tahun yang Berakhir

Pada Tanggal 31 Desember/
Year Ended December 31,
2024 2023
Proceeds from sale/transfer of
Hasil penjualan/pengalihan aset tetap 10.077.582 63.443.491 property, plant and equipment
Nilai tercatat (6.344.575) (48.785.730) Carrying amount
Laba atas penjualan/pengalihan Gain on sale/transfer
aset tetap 3.733.007 14.657.761 of property, plant and equipment

77

358 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

10. ASET TETAP (lanjutan) 10. PROPERTY, PLANT AND EQUIPMENT

(continued)

Aset tetap kecuali hak atas tanah, telah diasuransikan Property, plant and equipment, except for
kepada pihak ketiga terhadap risiko kerugian akibat landrights, are insured to third parties against
kebakaran, pencurian dan risiko lainnya berdasarkan losses from fire, theft and other risks under blanket
paket polis dengan nilai pertanggungan pada policies at the reporting dates as mentioned below.
tanggal-tanggal pelaporan sebagaimana yang The management believes that the insurance
dijelaskan di bawah ini. Manajemen berpendapat coverage is adequate to cover possible losses
bahwa nilai pertanggungan tersebut cukup untuk arising from such risks.
menutup kemungkinan timbulnya kerugian akibat
risiko tersebut.

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Rupiah 7.221.604.779 5.957.770.353 Rupiah

Dolar AS 79.633.690 75.663.690 US Dollar

Pada tanggal 31 Desember 2024, aset dalam As of December 31, 2024, the construction in
penyelesaian terutama merupakan berbagai progress mainly represents various construction
konstruksi seperti fasilitas terminal, dan stasiun activities in such as terminal facilities, and gas
pengisian bahan bakar umum (“SPBU”), yang stations of petroleum (“SPBU”), with completion
persentase penyelesaiannya berkisar dari 9% - 97% percentages ranging from 9% - 97% (2023:
(2023: 5% - 90%). 5% - 90%).

Pembangunan fasilitas-fasilitas di atas diharapkan The construction of the above facilities is expected
selesai dalam waktu sekitar 1-2 tahun. Manajemen to be completed in approximately 1-2 years. The
tidak mengharapkan akan adanya kesulitan dalam management does not expect any difficulties in
penyelesaian pembangunan pada waktu yang meeting the targeted completion date.
ditargetkan.

Tidak terdapat biaya pinjaman yang dikapitalisasi No borrowing costs were capitalized by the Group
oleh Kelompok Usaha untuk tahun yang berakhir for the year ended December 31, 2024 and 2023.
pada tanggal 31 Desember 2024 dan 2023.

Kelompok Usaha memiliki aset tangki penyimpanan The Group has assets of storage tanks used for the
yang digunakan untuk sewa operasi sebesar operating lease amounting to Rp224,917,451 as of
Rp224.917.451 pada tanggal 31 Desember 2024 December 31, 2024 (2023: Rp239,546,914).
(2023: Rp239.546.914).

Aset tetap yang digunakan sebagai jaminan atas Property, plant and equipment used as collateral
pinjaman yang diperoleh Kelompok Usaha pada to the loans obtained by the Group as of
tanggal 31 Desember 2024 dan 2023 (Catatan 18 dan December 31, 2024 and 2023 (Notes 18 and 34)
34) adalah sebagai berikut: are as follows:

· UEPN - melalui entitas anak BKMS - tanah dan · UEPN - through its subsidiary BKMS - land
bangunan proyek Pembangkit Listrik Tenaga and building of the gas powerplant (“PLTMG”)
Gas (“PLTMG”) beserta bangunan infrastruktur, project including the building infrastructure,
mesin-mesin dan peralatan yang melekat di machineries and equipment on top of which it
atasnya yang terletak di Gresik, Jawa Timur, is located in Gresik, East Java, through Al
melalui fasilitas Al Ijarah Muntahiyah Bi Al Tamlik Ijarah Muntahiyah Bi Al Tamlik (“IMBT”)
(“IMBT”) dan aset yang dibiayai melalui fasilitas facilities and assets being financed through
Musyarakah Mutanaqishah (“MMQ”) dari Musyarakah Mutanaqishah (“MMQ”) facilities
PT Bank Permata Tbk (“Permata”). from PT Bank Permata Tbk (“Permata”).

78

Annual Report 2024 359

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

10. ASET TETAP (lanjutan) 10. PROPERTY, PLANT AND EQUIPMENT

(continued)

Aset tetap yang digunakan sebagai jaminan atas Property, plant and equipment used as collateral
pinjaman yang diperoleh Kelompok Usaha pada to the loans obtained by the Group as of
tanggal 31 Desember 2024 dan 2023 (Catatan 18 dan December 31, 2024 and 2023 (Notes 18 and 34)
34) adalah sebagai berikut: (lanjutan) are as follows: (continued)

· Andahanesa - melalui entitas anak TNU - tangki · Andahanesa - through its subsidiary TNU -
penyimpanan dan peralatan pendukungnya yang storage tanks and its supporting equipment at
berlokasi di Pelabuhan Tanjung Perak, Surabaya Tanjung Perak Port, Surabaya financed by
yang dibiayai oleh fasilitas pinjaman jangka PT Bank Central Asia Tbk (“BCA”) under long-
panjang dari PT Bank Central Asia Tbk (“BCA”). term facilities.

· JTT - bangunan dan fasilitas tangki terminal · JTT - building and tank terminal facilities are
dijadikan jaminan terhadap fasilitas kredit dari used to secure the loan facilities by Permata.
Permata.

Pada tanggal 31 Desember 2024, nilai perolehan As of December 31, 2024, the acquisition
aset yang sudah disusutkan penuh adalah costs of the assets which have been fully
sejumlah Rp1.236.192.237 (2023: Rp1.196.756.908). depreciated amounted to Rp1,236,192,237 (2023:
Aset-aset ini masih digunakan untuk menunjang Rp1,196,756,908). Those assets are still being
operasional Kelompok Usaha. used by the Group in operations.

Pada tanggal 31 Desember 2024, nilai tercatat As of December 31, 2024, the carrying amount
aset yang sementara tidak dipakai dalam operasi of assets temporary not used in operations
adalah sebesar Rp16.877.390 (2023: Rp15.079.415). amounted to Rp16,877,390 (2023: Rp15,079,415).

11. ASET HAK-GUNA 11. RIGHT-OF-USE ASSETS

Selisih kurs
karena
penjabaran
laporan
keuangan/
Exchange
difference
Saldo due to Saldo
1 Jan. 2024/ translation 31 Des. 2024/
Balance Penambahan/ of financial Balance
Jan. 1, 2024 Additions statements Dec. 31, 2024

Harga perolehan Acquisition costs

Sewa tanah 813.298.281 239.202.516 5.949.524 1.058.450.321 Land leases
Sewa bangunan, tangki Building, tank
dan kendaraan 13.451.664 5.086.079 - 18.537.743 and vehicle leases

826.749.945 244.288.595 5.949.524 1.076.988.064

Accumulated
Akumulasi depresiasi/amortisasi depreciation/amortization
Sewa tanah 198.206.660 73.018.826 589.996 271.815.482 Land leases
Sewa bangunan, tangki Building, tank
dan kendaraan 10.741.396 1.063.668 - 11.805.064 and vehicle leases

208.948.056 74.082.494 589.996 283.620.546

Total 617.801.889 793.367.518 Total

79

360 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

11. ASET HAK-GUNA (lanjutan) 11. RIGHT-OF-USE ASSETS (continued)

Selisih kurs
karena
penjabaran
laporan
keuangan/
Exchange
difference
Saldo due to Saldo
1 Jan. 2023/ translation 31 Des. 2023/
Balance Penambahan/ of financial Balance
Jan. 1, 2023 Additions statements Dec. 31, 2023

Harga perolehan Acquisition costs

Sewa tanah 721.229.297 94.894.730 (2.825.746) 813.298.281 Land leases
Sewa bangunan, tangki Building, tank
dan kendaraan 13.451.664 - - 13.451.664 and vehicle leases

734.680.961 94.894.730 (2.825.746) 826.749.945

Accumulated
Akumulasi depresiasi/amortisasi depreciation/amortization
Sewa tanah 140.773.898 57.432.762 - 198.206.660 Land leases
Sewa bangunan, tangki Building, tank
dan kendaraan 7.713.930 3.027.466 - 10.741.396 and vehicle leases

148.487.828 60.460.228 - 208.948.056

Total 586.193.133 617.801.889 Total

Biaya penyusutan dan amortisasi atas aset hak-guna Depreciation and amortization expenses of
dibebankan sebagai berikut: right-of-use assets are charged to the following:

Tahun yang Berakhir

Pada Tanggal 31 Desember/
Year Ended December 31,
2024 2023
Beban pokok penjualan dan
pendapatan (Catatan 25) 70.876.021 57.904.402 Cost of sales and revenues (Note 25)
Beban usaha (Catatan 26) 3.206.473 2.555.826 Operating expenses (Note 26)

Total 74.082.494 60.460.228 Total

Kelompok Usaha telah mengakui beban yang The Group has recognized the expense relating
berkaitan dengan sewa jangka pendek untuk tahun to short-term leases for the year ended
yang berakhir pada tanggal 31 Desember 2024 December 31, 2024 amounted to Rp8,086,215
sebesar Rp8.086.215 (2023: Rp8.544.687) dan (2023: Rp8,544,687) and recorded under general
dicatat sebagai beban umum dan administrasi and administrative expense (Note 26).
(Catatan 26).

Berdasarkan penilaian manajemen Kelompok Usaha, Based on the assessment of the management of
tidak ada kejadian-kejadian atau perubahan- the Group, there are no events or changes in
perubahan keadaan yang mengindikasikan adanya circumstances that indicate any impairment in
penurunan nilai aset hak-guna pada tanggal the value of right-of-use assets as of
31 Desember 2024. December 31, 2024.

80

Annual Report 2024 361

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

11. ASET HAK-GUNA (lanjutan) 11. RIGHT-OF-USE ASSETS (continued)

Kelompok Usaha sebagai Pesewa The Group as Lessor

Kelompok Usaha telah mengadakan sewa operasi The Group has entered into operating leases
untuk tangki. Sewa ini memiliki jangka waktu sewa on its tank. These leases have lease term
1-5 tahun dan termasuk klausul untuk revisi sewa of 1-5 years and include a clause for rental
sesuai dengan kondisi pasar yang berlaku. revision subject to prevailing market conditions.
Pendapatan sewa yang diakui Kelompok Usaha Lease income recognized by the Group during
selama tahun berjalan adalah sebesar Rp78.792.484 the year is amounting to Rp78,792,484 (2023:
(2023: Rp80.905.702). Rp80,905,702).

Piutang sewa minimum di masa depan berdasarkan Future minimum rentals receivable under
sewa operasi yang tidak dapat dibatalkan pada non-cancellable operating leases as at
tanggal 31 Desember 2024 dan 2023 terkait dengan December 31, 2024 and 2023 relating to tank
sewa tangki yang akan dibebankan berdasarkan rental which will be charged based on actual
penggunaan aktual. Piutang sewa minimum di masa usage. Future minimum rentals receivable under
depan berdasarkan sewa operasi yang tidak dapat non-cancellable operating leases as at
dibatalkan pada tanggal 31 Desember 2024 dan 2023 December 31, 2024 and 2023 relating to tank are
terkait dengan tangki adalah sebagai berikut: as follows:

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Dalam 1 tahun 29.532.276 34.441.846 Within 1 year

Dalam 1-5 tahun 77.283.176 76.637.326 Within 1-5 years

Total 106.815.452 111.079.172 Total

12. PROPERTI INVESTASI 12. INVESTMENT PROPERTY

Akun ini terdiri dari dua bidang tanah sebagai berikut This account consists of two parcels of land i.e.
(i) 193,5 hektar disewakan kepada anchor tenant dari (i) 193.5 hectares leased to an anchor tenant of
BKMS (ii) 80,4 hektar belum ditentukan BKMS (ii) 80.4 hectares reserved for future use,
peruntukkannya, yang dimiliki oleh UEPN, entitas owned by UEPN, a subsidiary of the Company. The
anak dari Perusahaan. Dua bidang tanah tersebut two parcels of land are located in Manyar, Gresik,
terletak di Manyar, Gresik, Jawa Timur. East Java.

Pada tanggal 27 Agustus 2021, BKMS telah merubah On August 27, 2021, BKMS has amended the
perjanjian sewa tanah sebelumnya dengan tenant previous lease agreement of land with the said
tersebut, untuk masa 18 tahun, dengan hak untuk tenant for a period of 18 years, whereby it has the
memperpanjang masa sewa untuk dua (2) tahun dan right to extend the lease term for two (2) years and
enam (6) kali berturut-turut untuk periode sepuluh thereafter six (6) consecutive periods of ten (10)
(10) tahun untuk setiap periode perpanjangan serta contract years for each renewal period with a right
memiliki hak untuk membeli tanah tersebut selama to purchase the land during the lease term based
masa sewa berdasarkan syarat dan ketentuan yang on the terms and conditions stipulated in
disebutkan dalam perjanjian. Perjanjian tersebut juga agreement. The agreement also contains a
berisi mengatur biaya pemeliharaan dan biaya terkait maintenance fee arrangement and other provisions
lainnya yang relevan dengan sewa. Kemudian, pada relevant to the lease. Further, on August 12, 2021,
tanggal 12 Agustus 2021, kedua belah pihak juga the two parties also signed additional lease of land
menandatangani perjanjian sewa area tambahan area for laydown the equipments for its smelter
untuk meletakkan peralatan proyek smelter untuk project for a period of 2 years.
2 tahun.

81

362 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

12. PROPERTI INVESTASI (lanjutan) 12. INVESTMENT PROPERTY (continued)

Pada tahun 2024 dan 2023, BKMS telah menerima In 2024 and 2023, BKMS has received advances
uang muka sewa tanah di atas sampai dengan for the above leases of the land up to period
bulan Agustus 2029 sejumlah Rp858,6 juta August 2029 amounted to Rp858.6 million
(2023: Rp632,5 juta), dimana BKMS telah mengakui (2023: Rp632.5 million), whereby BKMS has
pendapatan sewa selama periode tersebut. Untuk recognized the lease income over the periods.
tahun yang berakhir pada tanggal 31 Desember 2024 For the year ended December 31, 2024, it has
telah diakui sebagai pendapatan sewa sebesar recognized rental income amounting to
Rp185,1 juta (2023: Rp173,2 juta). Pada tanggal Rp185.1 million (2023: Rp173.2 million). As of
31 Desember 2024, uang muka sebesar Rp752,7 juta December 31, 2024, the outstanding advance
(2023: Rp79,2 juta) termasuk bagian jangka pendek, amounting to Rp752.7 million (2023:
disajikan sebagai “Liabilitas Kontrak” pada laporan Rp79.2 million) including the current portion, is
posisi keuangan konsolidasian. presented as "Contract Liabilities” in the
consolidated statement of financial position.

Tidak terdapat beban operasi langsung yang timbul There are no direct operating expenses arising
dari properti investasi yang menghasilkan from the investment property that generated rental
pendapatan sewa dikarenakan BKMS hanya income since BKMS leases the land with no
menyewakan lahan kosong tanpa kewajiban contractual obligation to construct, build or repair
kontraktual untuk melakukan konstruksi, membangun on the improved parcels of land or for maintenance
atau untuk memperbaiki di atas bidang tanah, atau or enhancements of the investment property.
untuk memelihara atau meningkatkan properti
investasi tersebut.

Pada tanggal 31 Desember 2024, total nilai wajar As of December 31, 2024, the total fair
atas properti investasi adalah sebesar value of the investment property amounted to
Rp2.625.637.708 (2023: Rp2.522.171.256). Rp2,625,637,708 (2023: Rp2,522,171,256). The
Pengukuran nilai wajar atas properti investasi fair value measurement of such investment
menggunakan Level 2 hirarki nilai wajar, dimana level property uses Level 2 of fair value hierarchy,
input terendah yang signifikan terhadap pengukuran whereby the lowest level input that is significant to
nilai wajar adalah dapat diobservasi secara langsung the fair value measurement is directly or indirectly
atau tidak langsung. observable.

Nilai wajar Level 2 dari tanah dihitung dengan Level 2 fair value of land is calculated
menggunakan pendekatan perbandingan harga using the comparable market data approach. The
pasar. Harga pasar dari tanah yang paling mendekati approximate market price of comparable land is
disesuaikan dengan perbedaan atribut utama seperti adjusted for differences in key attributes such as
ukuran aset, lokasi dan penggunaan aset. Input yang property size, location and use of an asset. The
paling signifikan dalam pendekatan penilaian ini most significant input into this valuation approach
adalah asumsi harga per meter persegi. is price per square meter assumptions.

82

Annual Report 2024 363

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

13. PERSEDIAAN TANAH KAWASAN INDUSTRI 13. INDUSTRIAL ESTATE LAND INVENTORY
Akun ini terutama merupakan harga perolehan tanah This account represents acquisition costs and
dan biaya pengembangan terkait, baik secara related development costs, either directly or
langsung maupun tidak langsung, termasuk indirectly, including borrowing costs capitalized to
kapitalisasi biaya pinjaman yang dikapitalisasi pada the carrying amounts of land inventory, totaling to
nilai persediaan tanah sebesar Rp376.314.777 untuk Rp376,314,777 for the year ended December 31,
tahun yang berakhir pada tanggal 31 Desember 2024 2024 (2023: Rp276,177,846). As of December 31,
(2023: Rp276.177.846). Pada tanggal 31 Desember 2024, the interest capitalization rate is 8.84%
2024, tingkat kapitalisasi bunga adalah sebesar (2023: 9.14%). The land inventory is an industrial
8,84% (2023: 9,14%). Persediaan tanah ini dijadikan estate as part of JIIPE project developed through
kawasan industri sebagai bagian dari proyek JIIPE an indirect subsidiary, BKMS (Note 1b). The land is
yang dikembangkan oleh salah satu entitas anak located in SEZ Gresik, East Java. The JIIPE project
yang dimiliki tidak langsung, BKMS (Catatan 1b). is an integrated estate complex which has a deep-
Tanah ini berlokasi di KEK Gresik, Jawa Timur. sea port, industrial estate and residential zone. The
Proyek JIIPE mempunyai pelabuhan laut yang dalam, sea port is owned and operated by BMS, an
kawasan industri dan perumahan secara terintegrasi. associate entity of UEPN (Note 9) while the estate
Pelabuhan laut dimiliki dan dikelola oleh BMS yang area is operated by BKMS.
merupakan entitas asosiasi dari UEPN (Catatan 9),
sedangkan kawasan industri dikelola oleh BKMS.

Bagian yang siap untuk dijual dan sedang dalam The portion available for sale and under
pengembangan disajikan sebagai bagian dari aset development are presented as part of current
lancar, sedangkan yang diperuntukkan untuk tahap assets, while those retained for subsequent stage
pengembangan berikutnya disajikan sebagai bagian development are presented as part of non-current
dari aset tidak lancar. assets.
Manajemen berpendapat tidak diperlukan cadangan Management believes that there is no allowance
kerugian penurunan nilai atas persediaan tanah for decline in value of industrial estate land
kawasan industri pada tanggal-tanggal pelaporan. inventory at reporting dates.

14. HUTANG 14. ACCOUNT PAYABLES

a. Hutang Usaha - Pihak Ketiga a. Trade Payables - Third Parties

Berdasarkan umur: By age:

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Belum jatuh tempo 10.287.513.531 9.494.226.968 Not yet due

Jatuh tempo: Past due:
1 - 30 hari 48.424.423 24.717.715 1 - 30 days
31 - 60 hari 590.532 133.217 31 - 60 days
> 60 hari 225.379 108.095 > 60 days

Total 10.336.753.865 9.519.185.995 Total

Berdasarkan mata uang: By currency:

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Rupiah 3.946.472.352 2.317.358.223 Rupiah

Dolar AS 6.388.493.791 7.200.225.978 US Dollar
Mata uang lainnya 1.787.722 1.601.794 Other currencies

Total 10.336.753.865 9.519.185.995 Total

Hutang usaha tidak dijamin dan tidak dikenakan Trade payables are unsecured and non-
bunga. interest bearing.
83

364 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

14. HUTANG (lanjutan) 14. ACCOUNT PAYABLES (continued)

b. Hutang Lain-lain - Pihak Ketiga b. Other Payables - Third Parties

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Hutang pembelian aset tetap Purchase of property, plant

(Catatan 34) 284.050.163 278.316.275 and equipment payable (Note 34)
Hutang kepada kontraktor 91.447.809 5.396.017 Payables to contractor
Hutang royalti 16.957.240 9.440.046 Royalty payable
Hutang jasa profesional 67.320 2.820.097 Professional fees payables
Lain-lain 71.521.466 53.667.610 Miscellaneous

Total 464.043.998 349.640.045 Total

15. BIAYA MASIH HARUS DIBAYAR 15. ACCRUED EXPENSES

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Beban impor 152.590.115 142.348.574 Import charges

Bunga 118.975.699 69.556.784 Interest
Biaya angkut dan penanganan 116.600.487 128.919.873 Freight in and handling
Konstruksi 26.887.405 25.548.880 Construction
Beban penjualan dan pemasaran 14.176.718 13.927.461 Selling and marketing expenses
Biaya profesional 18.089.182 46.673.714 Professional fees
Lain-lain 138.365.516 144.848.308 Miscellaneous

Total 585.685.122 571.823.594 Total

16. LIABILITAS SEWA 16. LEASE LIABILITIES

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Didiskontokan menggunakan suku Discounted using the indicative

bunga pinjaman inkremental indikatif incremental borrowing rate
pada awal tahun 380.386.577 322.335.069 as at beginning year
Penambahan sewa 244.288.595 94.894.730 Addition of lease
Penambahan bunga 29.620.167 24.225.563 Accretion of interest
Selisih kurs 1.197.547 (1.392.561) Exchange rate difference
Pembayaran (131.265.846) (59.676.224) Payments

Total liabilitas sewa 524.227.040 380.386.577 Total lease liabilities

Dikurangi: Less:
Bagian jangka pendek 45.084.227 43.446.381 Current portion

Bagian jangka panjang 479.142.813 336.940.196 Long term portion

84

Annual Report 2024 365

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

16. LIABILITAS SEWA (lanjutan) 16. LEASE LIABILITIES (continued)

Estimasi arus kas keluar masa depan pada saat jatuh The estimated cash outflows by maturity calculated
tempo menggunakan tingkat suku bunga using interest rate of 5.96% - 9.78% for Rupiah and
5,96% - 9,78% untuk Rupiah dan 2,02% untuk 2.02% for US Dollar per annum are as follows:
Dolar AS per tahun adalah sebagai berikut:

Tahun yang Berakhir Pada Tanggal 31 Desember 2024/

Year Ended December 31, 2024
Arus kas keluar/ Komponen bunga/ Nilai kini/
Cash outflows Interest component Present value

Dalam 1 tahun 47.734.252 2.650.025 45.084.227 Within 1 year

Dalam 1-5 tahun 315.948.429 148.541.317 167.407.112 Within 1-5 years
Lebih dari 5 tahun 399.390.680 87.654.979 311.735.701 More than 5 years

Total 763.073.361 238.846.321 524.227.040 Total

Tahun yang Berakhir Pada Tanggal 31 Desember 2023/

Year Ended December 31, 2023
Arus kas keluar/ Komponen bunga/ Nilai kini/
Cash outflows Interest component Present value

Dalam 1 tahun 50.970.667 7.524.286 43.446.381 Within 1 year

Dalam 1-5 tahun 246.592.603 114.538.183 132.054.420 Within 1-5 years
Lebih dari 5 tahun 246.281.625 41.395.849 204.885.776 More than 5 years

Total 543.844.895 163.458.318 380.386.577 Total

Tidak ada opsi perpanjangan dan penghentian There is no extension and termination options
dimana Kelompok Usaha berpotensi memiliki which the Group is potentially exposed that are not
eksposur yang tidak termasuk dalam pengukuran reflected in the measurements of lease liabilities.
liabilitas sewa.

17. HUTANG BANK JANGKA PENDEK 17. SHORT-TERM BANK LOAN

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

ALR ALR
PT Bank Permata Tbk 7.000.000 5.000.000 PT Bank Permata Tbk

ALR ALR

PT Bank Permata Tbk (“Permata”) PT Bank Permata Tbk (“Permata”)

ALR memiliki fasilitas Omnibus Revolving Loan dari ALR obtained an Omnibus Revolving Loan Facility
Permata dengan total limit Rp18.000.000 yang from Permata with total limit amounting to
mencakup (i) fasilitas pinjaman berulang tanpa Rp18,000,000 with comprising of
komitmen, (ii) Bank Garansi/Standby Letter of Credit (i) uncommitted revolving loan facility, (ii) Bank
(“SBLC”) dan (iii) Payable Services. Fasilitas ini Guarantee/Standby Letter of Credit (“SBLC”) and
tersedia sampai dengan tanggal (iii) Payable Services. This facility is available until
7 Oktober 2025. October 7, 2025.

85

366 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

17. HUTANG BANK JANGKA PENDEK (lanjutan) 17. SHORT-TERM BANK LOAN (continued)

ALR (lanjutan) ALR (continued)

PT Bank Permata Tbk (“Permata”) (lanjutan) PT Bank Permata Tbk (“Permata”) (continued)

Perjanjian pinjaman mengharuskan pemenuhan The loan agreement contains several loan
beberapa persyaratan oleh ALR, antara lain, untuk covenants whereby it requires ALR, among others,
mempertahankan sejumlah rasio keuangan serta to maintain certain financial ratios and not to
tidak mengubah komposisi pemegang saham. change the shareholders’ composition.

Fasilitas kredit yang dijelaskan di atas dikenakan The above-mentioned credit facilities are subject to
tingkat suku bunga tahunan sebagai berikut: annual interest rates as follows:

31 Des. 2024/ 31 Des. 2023/

Des. 31, 2024 Dec. 31, 2023

Rupiah 6,36% - 8,80% 5,95% - 8,80% Rupiah

Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the
manajemen berpendapat bahwa ALR telah management believes that ALR has complied with
memenuhi semua persyaratan terkait sebagaimana all the relevant covenants as required under all the
diharuskan dalam semua perjanjian kredit di atas. credit agreements mentioned above.

18. HUTANG BANK JANGKA PANJANG DAN 18. LONG-TERM BANK LOANS AND OTHERS
LAINNYA

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Perusahaan The Company

PT Bank Central Asia Tbk 600.000.000 721.875.000 PT Bank Central Asia Tbk
PT Bank Mandiri (Persero) Tbk - 181.071.659 PT Bank Mandiri (Persero) Tbk

Sub-total 600.000.000 902.946.659 Sub-total

UEPN dan Entitas Anak UEPN and Subsidiary

Dana Syirkah Temporer - Dana Syirkah Temporer -
PT Bank Permata Tbk 2.263.739.793 517.887.439 PT Bank Permata Tbk
PT Bank Negara Indonesia (Persero) Tbk 1.784.997.012 1.850.558.737 PT Bank Negara Indonesia (Persero) Tbk
PT Indonesia Infrastructure Finance - 496.428.744 PT Indonesia Infrastructure Finance
PT Berlian Jasa Terminal Indonesia - 118.495.097 PT Berlian Jasa Terminal Indonesia

Sub-total 4.048.736.805 2.983.370.017 Sub-total

JTT JTT
PT Bank Permata Tbk PT Bank Permata Tbk
(US$9.720.977) - 149.858.574 (US$9,720,977)

Andahanesa dan Entitas Anak Andahanesa and Subsidiary

PT Bank Central Asia Tbk 137.148.148 170.370.377 PT Bank Central Asia Tbk

Total 4.785.884.953 4.206.545.627 Total

Dikurangi bagian yang jatuh tempo

dalam satu tahun 1.140.851.204 1.089.267.780 Less current maturities

Bagian jangka panjang 3.645.033.749 3.117.277.847 Long-term portion

86

Annual Report 2024 367

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

18. HUTANG BANK JANGKA PANJANG DAN 18. LONG-TERM BANK LOANS AND OTHERS
LAINNYA (lanjutan) (continued)

Perusahaan The Company

PT Bank Central Asia Tbk (“BCA”) PT Bank Central Asia Tbk (“BCA”)

Fasilitas Kredit Installment Loan 4 Installment Loan Facility 4

Pada tanggal 27 November 2019, Perusahaan On November 27, 2019, the Company obtained a
mendapatkan fasilitas baru Installment Loan 4 dari new Installment Loan 4 facility from BCA
BCA sebesar Rp1.250.000.000 yang digunakan amounting to Rp1,250,000,000 which was used for
untuk membiayai kembali hutang obligasi. Fasilitas ini refinancing bonds payables. The facilities are:
terdiri dari:

i) Tranche A dengan jumlah Rp500.000.000 yang i) Tranche A amounting to Rp500,000,000 used

digunakan untuk membiayai kembali Obligasi I for refinancing B Series - Bonds I Year 2012.
Tahun 2012 Seri B. Periode ketersediaan dari The availability period of this facility was until
fasilitas ini sampai dengan Desember 2019 dan December 2019 and has been fully drawn
telah ditarik sepenuhnya. down.

ii) Tranche B dengan jumlah Rp750.000.000 yang ii) Tranche B amounting to Rp750,000,000 to be
digunakan untuk membiayai kembali Obligasi used for refinancing A Series - Shelf
Berkelanjutan I AKR Corporindo Tahap 1 Tahun Registration Bonds I AKR Corporindo 1st
2017 Seri A. Periode ketersediaan dari fasilitas Tranche Year 2017. The availability period of
ini sampai dengan Juli 2020 dan telah ditarik this facility was until July 2020 and has been
sepenuhnya. fully drawdown.

Fasilitas ini berjangka waktu 5 tahun sejak penarikan The term of this facility is 5 years from the first
pertama setiap Tranche (tidak ada masa tenggang). utilization date of each Tranche (with no grace
Pokok pinjaman dan bunga terhutang secara period). The loan principal and interest are payable
kuartalan. Perjanjian ini juga mengandung sejumlah on a quarterly basis. The loan agreement also
rasio keuangan yang serupa dengan fasilitas-fasilitas contains certain financial ratios similar to the other
lainnya yang diberikan oleh BCA kepada facilities provided by BCA to the Company.
Perusahaan.

Perusahaan telah melakukan pembayaran pinjaman The Company has paid the related loan balance
sebesar Rp271.875.000 pada tahun yang berakhir amounted to Rp271,875,000 for the year ended
pada tanggal 31 Desember 2024 (2023: December 31, 2024 (2023: Rp234,375,000).
Rp234.375.000).

Pada tanggal 31 Desember 2024, nilai hutang bank The outstanding loan from this facility is
jangka panjang dari fasilitas ini adalah sebesar Rp450,000,000 as of December 31, 2024
Rp450.000.000 (31 Desember 2023: (December 31, 2023: Rp721,875,000).
Rp721.875.000).

87

368 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

18. HUTANG BANK JANGKA PANJANG DAN 18. LONG-TERM BANK LOANS AND OTHERS
LAINNYA (lanjutan) (continued)

Perusahaan (lanjutan) The Company (continued)

PT Bank Central Asia Tbk (“BCA”) (lanjutan) PT Bank Central Asia Tbk (“BCA”) (continued)

Fasilitas Kredit Investasi 6 Investment Credit 6 Facility

Pada tanggal 22 September 2023, Perusahaan On September 22, 2023, the Company signed
menandatangani Perjanjian Fasilitas Kredit Investasi Investment Credit 6 facility with limit amount of
6 dengan limit sebesar Rp300.000.000 dengan Rp300,000,000 with a credit period of 5 years to be
jangka waktu kredit 5 tahun yang digunakan untuk used for capital expenditure and/or increase capital
capital expenditure dan atau peningkatan modal pada in subsidiaries. There is a drawdown as of
entitas anak. Terdapat penarikan per tanggal December 31, 2024 amounting Rp150,000,000.
31 Desember 2024 sebesar Rp150.000.000.

Perjanjian-perjanjian kredit dengan BCA tersebut The loan agreements with BCA are amended from
diubah dari waktu ke waktu. Berdasarkan perubahan time to time. Based on the latest amendment in
terakhir di bulan September 2023 fasilitas yang September 2023 the available facilities are:
tersedia adalah:

i) Fasilitas cerukan sebesar US$2.000.000 dan i) Overdraft facility of US$2,000,000 and

Rp80.000.000; Rp80,000,000;

ii) Fasilitas pinjaman non-kas sebesar ii) Non-cash loan facilities at US$450,000,000
US$450.000.000 dengan beberapa fasilitas with various facility for uncommitted L/C,
untuk L/C uncommitted, SKBDN, Standby L/C SKBDN, Standby L/C (“SBLC”), Bank
(“SBLC”), Bank Garansi, dan pinjaman Guarantee, and Money Market Line;
berjangka Money Market Line;

iii) Fasilitas valuta asing sebesar US$65.000.000. iii) Foreign exchange line facility amounted to
US$65,000,000.

Fasilitas pinjaman ini dijamin dengan negative The loan facilities are secured by a negative
pledge atas aset (Entitas Induk) dimana Perusahaan pledge on assets (Parent Entity) whereby the
tidak boleh memberikan jaminan kepada pihak lain Company commits not to create any securities with
di masa depan tanpa persetujuan tertulis dari BCA. future lenders without prior written consent from
Perusahaan disyaratkan untuk mengajukan terlebih BCA. The Company is obliged to BCA’s right of first
dahulu kepada BCA apabila Perusahaan bermaksud offer whenever the Company is seeking new loan
untuk memperoleh pinjaman atau kredit baru. Dan or credit facility. Also, the Company without prior
juga tanpa persetujuan dari BCA, Perusahaan tidak approval from BCA, shall not among others:
boleh melakukan antara lain hal-hal sebagai berikut:

- mengagunkan harta kekayaan Perusahaan; - pledge of its assets; file for bankruptcy;
mengajukan permohonan pailit;
- melakukan peleburan, penggabungan, - conduct consolidation, merger, takeover or
pengambilalihan atau pembubaran; liquidation;
- mengubah status kelembagaan; - change the organization status;
- mengubah kepemilikan mayoritas saham pada - change the majority shareholding of the
Perusahaan dan/atau PT AKRT oleh Keluarga Company and/or PT AKRT by Adikoesoemo’s
Adikoesoemo, baik secara langsung maupun Family, either directly or indirectly which will
tidak langsung yang mengakibatkan jumlah result in the reduction of the shareholding to
kepemilikan saham menjadi kurang dari 50,1%. less than 50.1%.

88

Annual Report 2024 369

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

18. HUTANG BANK JANGKA PANJANG DAN 18. LONG-TERM BANK LOANS AND OTHERS
LAINNYA (lanjutan) (continued)

Perusahaan (lanjutan) The Company (continued)

PT Bank Central Asia Tbk (“BCA”) (lanjutan) PT Bank Central Asia Tbk (“BCA”) (continued)

Fasilitas Kredit Investasi 6 (lanjutan) Investment Credit 6 Facility (continued)

Perjanjian ini juga mensyaratkan Perusahaan, antara This Agreement also requires the Company,
lain untuk mempertahankan rasio keuangan tertentu. among others, to maintain several financial ratios.
Perjanjian kredit ini telah diperpanjang sampai The credit agreement has been extended until
dengan tanggal 30 September 2025. September 30, 2025.

Pada tanggal 31 Desember 2024, nilai hutang bank The outstanding loan from this facility is
jangka panjang dari fasilitas ini adalah sebesar Rp150,000,000 as of December 31, 2024.
Rp150.000.000.

PT Bank Mandiri (Persero) Tbk (“Mandiri”) PT Bank Mandiri (Persero) Tbk (“Mandiri”)

Pada tanggal 2 Desember 2019, Perusahaan On December 2, 2019, the Company obtained a
mendapatkan Fasilitas Term Loan dari Mandiri Loan Term Facility from Mandiri amounting to
sebesar Rp600.000.000 yang digunakan untuk Rp600,000,000 which was used for refinancing
membiayai kembali Obligasi I AKR Corporindo Tahun part of the Series B of Bonds I AKR Corporindo
2012 Seri B, kebutuhan kegiatan usaha terkait Year 2012, business activities related to
investasi, dan general corporate purposes terkait investment, and general corporate purposes
fasilitas biaya keuangan. Periode ketersediaan dari related to financial facility costs. The availability
fasilitas ini adalah 6 (enam) bulan sejak tanggal period of this facility is 6 (six) months from the
penandatanganan. Pada tanggal 26 Maret 2020, signing date. As of March 26, 2020, the Company
Perusahaan telah menarik seluruh fasilitas pinjaman has fully drawdown the facility.
tersebut.

Fasilitas tersebut berjangka waktu 5 tahun sejak The term of this facility is 5 years from the first
tanggal awal Perjanjian Kredit atau berakhir di Credit Agreement or ends on December 31, 2024.
31 Desember 2024. Pokok pinjaman harus dilunasi The loan principal is repayable on a quarterly basis
secara tiga-bulanan dimulai bulan Maret 2020. starting March 2020. The loan agreement contains
Perjanjian ini mengandung sejumlah persyaratan certain loan covenants similar to those facilities
yang serupa dengan fasilitas-fasilitas lainnya yang provided by Mandiri to the Company.
diberikan oleh Mandiri kepada Perusahaan.

Perusahaan telah melakukan pembayaran pinjaman The Company has paid the related loan balance
sebesar Rp181.071.659 pada tahun yang berakhir amounting to Rp181,071,659 for the year ended
pada tanggal 31 Desember 2024 dan 2023. December 31, 2024 and 2023.

89

370 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

18. HUTANG BANK JANGKA PANJANG DAN 18. LONG-TERM BANK LOANS AND OTHERS
LAINNYA (lanjutan) (continued)

UEPN melalui Entitas Anak, BKMS UEPN through its Subsidiary, BKMS

Dana Syirkah Temporer - PT Bank Permata Tbk Dana Syirkah Temporer - PT Bank Permata Tbk
(“Permata”) (“Permata”)

BKMS telah menandatangani beberapa fasilitas BKMS signed several Shariah or Islamic financing
pembiayaan Syariah atau Islamic dengan Permata facilities with Permata under MMQ model
melalui model MMQ (“Musyarakah Mutanaqishah”) (“Musyarakah Mutanaqishah”) on August 25, 2022,
pada tanggal 25 Agustus 2022, yang telah di which was last amended on July 1, 2024. The
adendum terakhir kali pada tanggal 1 Juli 2024. facilities are set for both project financing and
Fasilitas tersebut digunakan untuk pembiayaan refinancing of certain supporting assets/facilities
proyek dan pembiayaan kembali aset/fasilitas such as waste-water treatment plant, freshwater
tertentu seperti instalasi pengolahan air limbah, facilities, office buildings and others. The amounts
fasilitas air bersih, gedung perkantoran dan lainnya. of facilities totalled Rp2,788 billion which is to be
Total fasilitas sejumlah Rp2.788 miliar dan akan secured by the assets being financed. These
dijamin dengan aset yang dibiayai. Fasilitas ini facilities are subject to interest at JIBOR plus a
dikenakan biaya bunga JIBOR ditambah dengan certain percentage margin and have a tenor of
persentase margin tertentu dan memiliki tenor selama 5 years.
5 tahun.

Fasilitas kredit ini juga mensyaratkan BKMS untuk These financing facilities require BKMS to maintain
memelihara sejumlah rasio keuangan. Pada tanggal several financial ratios. As of December 31, 2024,
31 Desember 2024, pemenuhan rasio keuangan the compliance with financial ratios required by
yang dipersyaratkan oleh Permata telah disetujui Permata has been approved to be waived.
untuk di-waived.

Pada tanggal 31 Desember 2024, BKMS telah As of December 31, 2024, BKMS has withdrawn
melakukan penarikan sebesar Rp2.612.459.570 dan Rp2,612,459,570 and BKMS has met all the
BKMS telah memenuhi seluruh batasan yang covenants as required in the agreement.
dipersyaratkan dalam perjanjian.

BKMS telah melakukan pembayaran pokok pinjaman BKMS has paid the related loan principal facility
sebesar Rp295.424.574 pada tahun yang berakhir amounting to Rp295,424,574 for the year ended
pada tanggal 31 Desember 2024 (2023: December 31, 2024 (2023: Rp36,424,403).
Rp36.424.403).

PT Bank Negara Indonesia (Persero) Tbk (“BNI”) PT Bank Negara Indonesia (Persero) Tbk (“BNI”)

Pada tanggal 27 Juni 2023, BKMS telah On June 27, 2023, BKMS signed a loan term credit
menandatangani fasilitas kredit berjangka dengan facility with BNI with a total plafond of
BNI dengan total pinjaman sejumlah Rp2,000,000,000 under two tranches. The facility,
Rp2.000.000.000 dalam dua tranch. Fasilitas tersebut which bears interest at 3-months JIBOR plus a
dikenakan biaya bunga JIBOR 3 bulanan ditambah certain percentage margin, shall be used to
dengan persentase margin tertentu, yang digunakan refinance existing shareholder loans. It has a tenor
untuk membiayai kembali pinjaman pemegang. of 7 years with a certain portion to be settled no
Fasilitas ini berjangka waktu 7 tahun dengan porsi longer than June 26, 2030. The facility is secured
tertentu yang harus diselesaikan paling lambat by certain parcels of land and fiduciary transfer of
tanggal 26 Juni 2030. Fasilitas ini dijamin dengan certain receivables.
sejumlah bidang tanah dan pengalihan fidusia
piutang tertentu.

Fasilitas kredit ini juga mensyaratkan BKMS untuk It also requires BKMS to maintain several financial
memelihara sejumlah rasio keuangan. ratios.

90

Annual Report 2024 371

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

18. HUTANG BANK JANGKA PANJANG DAN 18. LONG-TERM BANK LOANS AND OTHERS
LAINNYA (lanjutan) (continued)

UEPN melalui Entitas Anak, BKMS (lanjutan) UEPN through its Subsidiary, BKMS (continued)

PT Bank Negara Indonesia (Persero) Tbk (“BNI”) PT Bank Negara Indonesia (Persero) Tbk (“BNI”)
(lanjutan) (continued)

Pada tanggal 31 Desember 2023, BKMS telah As of December 31, 2023, BKMS has withdrawn
melakukan penarikan sebesar Rp2.000.000.000. Hal Rp2,000,000,000. It is in compliance with all the
ini sesuai dengan semua kondisi yang dipersyaratkan conditions required in the agreement at the reporting
dalam perjanjian pada tanggal pelaporan. date.

BKMS telah melakukan pembayaran pinjaman BKMS has paid the related loan balance amounting
sebesar Rp315.561.725 pada tahun yang berakhir to Rp315,561,725 for the year ended December 31,
pada tanggal 31 Desember 2024 (2023: 2024 (2023: Rp140,182,930).
Rp140.182.930).

Pada tanggal 19 Juni 2024, BKMS telah On June 19, 2024, BKMS signed a term loan credit
menandatangani fasilitas kredit berjangka dengan facility with BNI with a total plafond of
BNI dengan total pinjaman sejumlah Rp500.000.000. Rp500,000,000. The facility, which bears interest at
Fasilitas tersebut dikenakan biaya bunga JIBOR 3-month JIBOR plus a certain percentage margin,
3 bulanan ditambah dengan persentase margin shall be used to refinance existing third-party loans.
tertentu, yang digunakan untuk pembayaran kembali It has a tenor of 3 years with a certain portion to be
pinjaman pihak ketiga. Fasilitas ini berjangka waktu settled no longer than December 2027. The facility
3 tahun dengan porsi tertentu yang harus is secured by certain parcels of land and fiduciary
diselesaikan paling lambat bulan Desember 2027. transfer of certain receivables.
Fasilitas ini dijamin dengan sejumlah bidang tanah
dan pengalihan fidusia piutang tertentu.

Pada tanggal 28 Juni 2024, BKMS telah melakukan On June 28, 2024, BKMS has withdrawn
penarikan sebesar Rp500.000.000. Hal ini sesuai Rp500,000,000. It is in compliance with all the
dengan semua kondisi yang dipersyaratkan dalam conditions required in the agreement at the reporting
perjanjian pada tanggal pelaporan. date.

BKMS telah melakukan pembayaran pinjaman BKMS has paid the related loan balance amounting
sebesar Rp250.000.000 pada tahun yang berakhir to Rp250,000,000 for the year ended December 31,
pada tanggal 31 Desember 2024. 2024.

PT Indonesia Infrastructure Finance (“IIF”) PT Indonesia Infrastructure Finance (“IIF”)

Pada tanggal 11 Desember 2020, BKMS On December 11, 2020, BKMS signed a loan
menandatangani fasilitas pinjaman dengan facility with IIF. The maximum amount of the credit
IIF. Jumlah maksimum fasilitas kredit adalah sebesar facility is Rp500,000,000. This agreement bore
Rp500.000.000. Perjanjian ini dikenakan tingkat suku interest at JIBOR plus a certain percentage margin
bunga yang berlaku sebesar JIBOR ditambah as defined in the Agreement on a quarterly basis
persentase margin tertentu sesuai dengan perjanjian and was secured by several collateral i.e. first-rate
secara kuartalan dan dijamin dengan beberapa mortgage of several parcels of land etc. This credit
jaminan antara lain jaminan hak tanggungan tingkat facility has required BKMS to maintain several
pertama atas beberapa bidang tanah dan lainnya. financial ratios. BKMS has fully paid the related
Fasilitas kredit ini juga mensyaratkan BKMS untuk loan facility on June 28, 2024.
memelihara sejumlah rasio keuangan. BKMS telah
melakukan pelunasan pinjaman pada tanggal 28 Juni
2024.

91

372 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

18. HUTANG BANK JANGKA PANJANG DAN 18. LONG-TERM BANK LOANS AND OTHERS
LAINNYA (lanjutan) (continued)

UEPN melalui Entitas Anak, BKMS (lanjutan) UEPN through its Subsidiary, BKMS (continued)

PT Berlian Jasa Terminal Indonesia (“BJTI”) PT Berlian Jasa Terminal Indonesia (“BJTI”)

Pada tanggal 30 Desember 2015, 30 Maret 2016, dan On December 30, 2015, March 30, 2016, and
26 Februari 2020, BJTI (pemegang saham 40% dari February 26, 2020, BJTI (the holder of 40% shares
BKMS) telah memberikan pinjaman pemegang in BKMS) provided several shareholder loan
saham kepada BKMS dengan total sejumlah facilities to BKMS with totaling amount of
Rp320.000.000 untuk pengembangan fasilitas Rp320,000,000 for the development of the
kawasan industri yang terintegrasi dengan pelabuhan integrated industrial estate and port facilities (JIIPE
(proyek JIIPE). Pinjaman ini dikenakan bunga project). The facility is subject to interest at JIBOR
sebesar JIBOR ditambah persentase margin tertentu, plus a certain percentage margin, payable monthly.
terhutang setiap bulan. BKMS telah melakukan BKMS has fully paid the outstanding amount of
pelunasan seluruh pinjaman tersebut sebesar Rp118,495,097 in January 2024.
Rp118.495.097 pada bulan Januari 2024.

JTT JTT

PT Bank Permata Tbk (“Permata”) PT Bank Permata Tbk (“Permata”)

Pada tanggal 30 Oktober 2018, JTT menandatangani On October 30, 2018, JTT signed a loan
perjanjian pinjaman dengan Permata, dimana agreement with Permata, whereby Permata
Permata setuju untuk memberikan dua fasilitas kredit agreed to provide two credit facilities to JTT.
kepada JTT.

Fasilitas yang tersedia adalah sebagai berikut: The facilities available are as follows:

i) Fasilitas Term Loan 1 (“Fasilitas TL 1”) yang i) Committed loan in the Term Loan 1 facility
bersifat committed sebesar US$21.500.000. (“TL 1 Facility”) at US$21,500,000. The
Fasilitas ini digunakan untuk pembiayaan purpose of the facility is to refinance the
kembali fasilitas pinjaman sebelumnya untuk previous loan facilities for the constructions of
pembangunan tangki penyimpanan produk- liquid products storage tanks and office
produk cair dan bangunan kantor Tahap I, dan building Phase I, and the facilities have been
fasilitas ini telah digunakan seluruhnya; fully utilized;

ii) Fasilitas Term Loan 2 (“Fasilitas TL 2”) yang ii) Committed loan in the Term Loan 2 facility
bersifat committed sebesar US$28.000.000. (“TL 2 Facility”) at US$28,000,000. The
Fasilitas ini digunakan untuk pembiayaan purpose of the facility is to finance the
investasi pembangunan tangki penyimpanan constructions of liquid product storage tanks
produk-produk cair Tahap IIA. Penarikan for Phase IIA. The first withdrawal was done in
pertama dilakukan pada Maret 2019 dan fasilitas March 2019 and the term of the facility is
ini tersedia sampai dengan September 2020. available up to September 2020. The last
Jatuh tempo pembayaran pokok pinjaman repayment of loan principle will due
terakhir adalah di bulan Januari 2027. in January 2027.

iii) Fasilitas Forex Line dengan Loan Equivalent Risk iii. Forex Line facility with Loan Equivalent Risk
(“LER”) sebesar US$1.000.000. (“LER”) at US$1.000.000.

Pada tanggal 15 Desember 2021, Permata setuju On December 15, 2021, Permata agreed to provide
untuk memberikan tambahan fasilitas pinjaman an additional facility of revolving loan to JTT at
berulang (revolving) kepada JTT sebesar US$1,500,000. The purpose of this facility is for
US$1.500.000. Tujuan dari fasilitas ini adalah untuk working capital.
modal kerja.

92

Annual Report 2024 373

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

18. HUTANG BANK JANGKA PANJANG DAN 18. LONG-TERM BANK LOANS AND OTHERS
LAINNYA (lanjutan) (continued)

JTT (lanjutan) JTT (continued)

PT Bank Permata Tbk (“Permata”) (lanjutan) PT Bank Permata Tbk (“Permata”) (continued)

Pada tanggal 2 Desember 2022, fasilitas pinjaman On December 2, 2022, the revolving loan facility
berulang (revolving) telah diperpanjang sampai has been extended to October 7, 2025, with market
7 Oktober 2025 dengan tingkat bunga pasar per interest rate per annum.
tahun.

Fasilitas pinjaman ini dikenakan tingkat suku bunga The facilities are subject to the annual interest rate
tahunan yang berlaku untuk masing-masing fasilitas applied for each facility which is the aggregate
yang merupakan penjumlahan suku bunga dasar percentage of the applicable margin and the base
dengan margin yang berlaku sesuai dengan rate as defined in the Agreement and interest is
Perjanjian dan bunga terhutang secara kuartalan. payable on a quarterly basis.

Fasilitas ini dijamin dengan jaminan hak pakai atas The Facilities are secured by security of rights to
bangunan kantor di Tanjung Priok, fasilitas tangki use of the office building at Tanjung Priok, tank
terminal, seluruh saham disetor JTT, rekening bank, terminal facilities, all the issued and paid-up shares
piutang, dan hasil klaim asuransi. of JTT, its bank accounts, receivables, and
proceeds from insurance claim.

Perjanjian ini mengandung sejumlah pembatasan The agreement also contains certain restrictions
dan persyaratan, termasuk pemenuhan rasio and requirements, including compliance with
keuangan tertentu. certain financial ratios.

Berdasarkan Akta Notaris Aulia Taufani, S.H., Based on the Notarial Deed of Aulia Taufani, S.H.,
No. 13 dan 14, serta Akta Addendum No. 12 tanggal No. 13 and 14, and Addendum of Notarial Deed
8 Maret 2019, JTT dan Vopak Indonesia B.V., selaku No. 12 dated March 8, 2019, JTT and Vopak
Para Pemegang Saham JTT menandatangani Indonesia B.V., as the Shareholders of JTT have
Perjanjian Pemberian Gadai Saham dengan signed a deed of the Shares Pledge Agreement
Permata, atas seluruh saham yang dimilikinya dan with Permata, for all shares that owned and
dikendalikan oleh pemegang saham JTT. Adapun controlled by the shareholders of JTT. The granting
pemberian gadai saham kepada Permata tersebut of share pledge to Permata is related with loan
terkait pemberian fasilitas perbankan yang telah facility has been given from Permata to JTT, used
diberikan oleh Permata kepada JTT, yang digunakan for support business activities to expand
untuk menunjang kegiatan usaha JTT guna capacity/build new tank and other facility. The
meningkatkan kapasitas/membangun tangki dan Company has made the Disclosure of Information
fasilitas penunjang lainnya. Perusahaan telah in its Letter No. 007/L-AKR-CS/2019 dated
melakukan Keterbukaan Informasi melalui Surat March 12, 2019 to OJK and IDX.
No. 007/L-AKR-CS/2019 tanggal 12 Maret 2019 ke
OJK dan BEI.

JTT telah melakukan pelunasan pinjaman sebesar JTT has fully paid the entire loan outstanding
US$9.731.250 pada tahun yang berakhir pada amounted to US$9,731,250 for the year ended
tanggal 31 Desember 2024 (2023: US$6.281.250), December 31, 2024 (2023: US$6,281,250), and as
dan pada tanggal penyelesaian laporan keuangan of the completion date of these consolidated
konsolidasian, JTT masih dalam proses untuk financial statements, JTT is still in-process to
melepaskan aset yang dijaminkan kepada Permata. release all the collaterals to Permata.

93

374 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

18. HUTANG BANK JANGKA PANJANG DAN 18. LONG-TERM BANK LOANS AND OTHERS
LAINNYA (lanjutan) (continued)

Andahanesa melalui Entitas Anak, TNU Andahanesa through its Subsidiary, TNU

PT Bank Central Asia Tbk (“BCA”) PT Bank Central Asia Tbk (“BCA”)

Pada tanggal 27 Oktober 2017, TNU memperoleh On October 27, 2017, TNU obtained an Investment
pinjaman Kredit Investasi dari BCA dengan Credit facility loan from BCA with maximum plafond
maksimum pinjaman sejumlah Rp250.000.000. totalling Rp250,000,000. The purpose of the facility
Tujuan fasilitas ini adalah untuk membiayai is to finance storage tanks Phase I in Tanjung
pembangunan tangki penyimpanan Tahap I di Perak Port, Surabaya. The term of the facility is
Pelabuhan Tanjung Perak, Surabaya. Fasilitas ini 8 years (including a grace period of 18 months from
berjangka waktu 8 tahun (termasuk grace period the first utilization date or at the latest by
18 bulan sejak penarikan pertama atau selambat- January 31, 2019). The agreement has been
lambatnya pada tanggal 31 Januari 2019). Perjanjian amended from time to time, the latest of which was
ini telah mengalami perubahan dari waktu ke waktu, in May 2024, pertaining to an additional tenor of
perubahan terakhir pada bulan Mei 2024, atas 3 years, to August 2030.
penambahan tenor 3 tahun, sampai dengan
Agustus 2030.

Fasilitas ini dijamin dengan seluruh aset yang dibiayai The facility is secured by the related assets
oleh fasilitas ini mencakup 13 unit tangki financed by the facility covering 13 units of storage
penyimpanan. tanks.

Fasilitas ini juga mengharuskan pemenuhan It requires compliance with certain covenants,
sejumlah persyaratan, antara lain, (i) Perusahaan among others, (i) the Company shall retain control
mempertahankan kepemilikannya paling sedikit of at least 50.1% of TNU directly or indirectly, and
sebesar 50,1% atas TNU, baik secara langsung (ii) compliance with certain financial ratios.
ataupun tidak langsung, serta (ii) pemenuhan
sejumlah rasio keuangan tertentu.

TNU telah melakukan pembayaran pinjaman sebesar TNU has paid the related loan facility amounting to
Rp33.222.229 pada tahun yang berakhir pada Rp33,222,229 for the year ended December 31,
tanggal 31 Desember 2024 (2023: Rp31.944.437). 2024 (2023: Rp31,944,437).

Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, management
manajemen berpendapat bahwa TNU telah believes that TNU has complied with all the
memenuhi semua persyaratan terkait sebagaimana relevant covenants as required under all the credit
diharuskan dalam semua perjanjian kredit di atas. agreements mentioned above.

Semua fasilitas kredit yang dijelaskan di atas All the above-mentioned credit facilities are subject
dikenakan tingkat suku bunga tahunan sebagai to annual interest rates as follows:
berikut:

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Rupiah 7,15% - 9,33% 6,50% - 11,11% Rupiah

Dolar AS 7,55% - 7,64% 6,32% - 7,64% US Dollar

Kepatuhan atas Kovenan Compliance with Covenants

Pada tanggal 31 Desember 2024 dan 2023, Kelompok As of December 31, 2024 and 2023, the Group has
Usaha telah memenuhi semua kovenan hutang bank complied with all of the covenants of the above-
tersebut di atas seperti disebutkan dalam perjanjian mentioned bank loans as stipulated in the
kredit terkait atau memperoleh surat pernyataan respective loan agreements or obtained necessary
pelepasan tuntutan pelunasan (waiver) sesuai waivers as required by respective loan agreement.
ketentuan perjanjian kredit terkait.

94

Annual Report 2024 375

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

19. HUTANG OBLIGASI 19. BONDS PAYABLES

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Jumlah pokok hutang Principal amount of payables

Seri C - 2017 - 37.000.000 C Series - 2017

Biaya emisi yang belum diamortisasi - (166.063) Unamortized issuance costs

Total - 36.833.937 Total

Berdasarkan Perjanjian Perwaliamanatan yang Based on the Trusteeship Agreement as notarized

diaktakan oleh Aryanti Artisari, S.H., M.Kn., dalam by Aryanti Artisari, S.H., M.Kn., in Deed No. 83
Akta No. 83 tanggal 30 Maret 2017, juncto Addendum dated March 30, 2017, juncto Amendment I No. 79
I No. 79 tanggal 24 Mei 2017 dan Addendum II No. 25 dated May 24, 2017 and Amendment II No. 25
tanggal 12 Juni 2017 oleh notaris yang sama, dated June 12, 2017 of the same notary, PT Bank
PT Bank Mega Tbk (sebagai pihak independen) telah Mega Tbk (as an independent party) has been
ditunjuk sebagai Wali Amanat dalam rangka appointed as the Trustee of the Bondholders in
Penawaran Umum Obligasi Berkelanjutan I AKR conjunction with the Shelf Registration Bonds I
Corporindo Tahap 1 Tahun 2017. AKR Corporindo 1st Tranche Year 2017.

Obligasi Berkelanjutan I AKR Corporindo Tahap 1 The Shelf Registration Bonds I AKR Corporindo 1st
Tahun 2017 ini diterbitkan tanpa warkat berjangka Tranche Year 2017 were issued scriptless,
waktu paling lama 7 (tujuh) tahun dengan maximum 7 (seven) years with the terms and
syarat-syarat dan ketentuan-ketentuan Obligasi conditions of the Bonds as follows:
sebagai berikut:

Pemeringkatan
Bunga tetap
oleh/ Jatuh tempo
(dibayar secara 3-
Seri/ Rating by Tercatat/ (secara penuh)/ Nominal/ Jaminan/
bulanan)/
Series PT Pemeringkat Listed Maturity (bullet Amount Security
Fixed rate
Efek Indonesia payment)
(quarterly payment)
(PEFINDO)
idAA (Double A) Bursa Efek
dengan Outlook Indonesia/ 7 Jul. 2024/ Tidak dijamin/
Seri C Rp37.000.000 9,00%
Stabil/with Stable Indonesia Stock Jul. 7, 2024 Unsecured
Outlook Exchange

Tujuan dari penerbitan Obligasi Berkelanjutan I AKR The purpose of the Shelf Registration Bonds I AKR
Corporindo Tahap 1 Tahun 2017, dipergunakan Corporindo 1st Tranche Year 2017 is to use
seluruhnya oleh Perusahaan untuk modal kerja entirely for working capital required in the trading
segmen distribusi dan perdagangan dalam rangka and distribution segment for procurement of
pembelian bahan bakar minyak (“BBM”) dan bahan petroleum and chemical. Initially Bonds I consists
kimia dasar. Awalnya Obligasi ini terdiri dari tiga Seri of three Series (A,B&C) and the Company has fully
(A,B&C) dan Perusahaan telah membayar penuh Seri repaid Series A and B in July 2020 and July 2022,
A dan B masing-masing pada bulan Juli 2020 dan respectively, and further Series C in July 2024.
Juli 2022, dan selanjutnya Seri C di bulan Juli 2024.

Pemeringkatan dari PEFINDO berlaku dari The rating from PEFINDO is valid from
8 Maret 2024 sampai dengan 1 Maret 2025 yaitu March 8, 2024 to March 1, 2025 i.e idAA (double A)
idAA (double A) dengan Outlook Stabil untuk with Stable Outlook for the Company and Shelf
Perusahaan dan Obligasi Berkelanjutan I AKR Registration Bonds I AKR Corporindo 1st Tranche
Corporindo Tahun 2017 Tahap 1 Seri C. Atas hal Year 2017, C series. For the matter, the Company
tersebut, Perusahaan telah melakukan Keterbukaan has made the Disclosure of Information in its Letter
Informasi melalui Surat No. 023/L-AKR-CS/2024 No. 023/L-AKR-CS/2024 dated March 15, 2024 to
pada tanggal 15 Maret 2024 ke OJK dan BEI. OJK and IDX. The Company also has made the
Perusahaan juga telah memberikan keterbukaan relevant disclosure information to OJK and IDX
informasi ke OJK dan BEI terkait penyelesaian pertaining to the settlement of Series C Bond in
Obligasi Seri C pada bulan Juli 2024. July 2024.

95

376 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

20. KEPENTINGAN NONPENGENDALI 20. NON-CONTROLLING INTERESTS

Selisih
Kurs Karena Bagian Atas
Penjabaran Perubahan
Laporan Lainnya
Bagian Atas Keuangan/ Dari Ekuitas
Laba (Rugi) Exchange Entitas Anak/
Saldo Tahun Berjalan/ Difference Due to Share of Other Penambahan Saldo
1 Januari 2024/ Share in Translation of Changes Investasi/ 31 Desember 2024/
Anak Perusahaan/ Balance Current Year Financial in Equity of Additional of Balance
Subsidiaries January 1, 2024 Profit (Loss) Statements Subsidiary Investment December 31, 2024

PT Jakarta Tank Terminal 501.713.322 13.176.105 24.195.851 - - 539.085.278

PT Berkah Kawasan Manyar
Sejahtera,
entitas anak UEPN 1.583.228.242 208.034.783 - - - 1.791.263.025
PT Terminal Nilam Utara,
entitas anak Andahanesa 77.329.764 7.065.959 - - - 84.395.723
PT Dirgantara Petroindo Raya,
entitas anak AKRIDA 34.176.272 (5.300.409) - - 7.687.095 36.562.958
PT Aneka Petroindo Raya,
entitas anak AKRIDA 563.876.964 (52.121.327) - 1.418 74.888.629 586.645.684
PT Anugerah Lubrindo Raya,
entitas anak AKRIDA 5.315.356 353.898 - - - 5.669.254
PT Anugerah Kimia Indonesia,
entitas anak ANI 6.748.509 3.494.047 - - - 10.242.556
PT Berkah Buana Energi 7.944.876 (353.519) - - - 7.591.357

Total 2.780.333.305 174.349.537 24.195.851 1.418 82.575.724 3.061.455.835

Selisih
Kurs Karena Bagian Atas
Penjabaran Perubahan
Laporan Lainnya
Bagian Atas Keuangan/ Dari Ekuitas
Laba (Rugi) Exchange Entitas Anak/
Saldo Tahun Berjalan/ Difference Due to Share of Other Penambahan Saldo
1 Januari 2023/ Share in Translation of Changes Investasi/ 31 Desember 2023/
Anak Perusahaan/ Balance Current Year Financial in Equity of Additional of Balance
Subsidiaries January 1, 2023 Profit (Loss) Statements Subsidiary Investment December 31, 2023

PT Jakarta Tank Terminal 507.477.015 4.943.419 (10.707.112) - - 501.713.322

PT Berkah Kawasan Manyar
Sejahtera,
entitas anak UEPN 1.227.080.754 356.147.488 - - - 1.583.228.242
PT Terminal Nilam Utara,
entitas anak Andahanesa 30.998.554 2.331.163 - 47 44.000.000 77.329.764
PT Dirgantara Petroindo Raya,
entitas anak AKRIDA 35.049.654 (6.026.255) - - 5.152.873 34.176.272
PT Aneka Petroindo Raya,
entitas anak AKRIDA 368.582.385 (59.339.640) - 4.902 254.629.317 563.876.964
PT Anugerah Lubrindo Raya,
entitas anak AKRIDA 4.852.307 463.049 - - - 5.315.356
PT Anugerah Kimia Indonesia,
entitas anak ANI 6.642.427 106.082 - - - 6.748.509
PT Berkah Buana Energi 5.264.992 (505.116) - - 3.185.000 7.944.876

Total 2.185.948.088 298.120.190 (10.707.112) 4.949 306.967.190 2.780.333.305

Ringkasan informasi keuangan BKMS, entitas anak The summarized financial information of BKMS, a
yang dimiliki 60% oleh UEPN sebelum eliminasi subsidiary held 60% by UEPN before elimination is
disajikan di bawah ini: provided below:
Laporan posisi keuangan Statement of financial position
31 Des. 2024/ 31 Des. 2023/
Dec. 31, 2024 Dec. 31, 2023

Aset Lancar 7.008.236.857 5.207.857.544 Current Assets

Aset Tidak Lancar 4.663.282.129 4.704.322.477 Non-Current Assets
Liabilitas Jangka Pendek 2.891.060.093 3.240.951.167 Current Liabilities
Liabilitas Jangka Panjang 4.055.697.761 2.464.897.024 Non-Current Liabilities
Ekuitas yang dapat diatribusikan Equity attributable to the owners
kepada pemilik Perusahaan 4.724.761.132 4.206.331.830 of the Company

96

Annual Report 2024 377

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

20. KEPENTINGAN NONPENGENDALI (lanjutan) 20. NON-CONTROLLING INTERESTS (continued)

Dalam Rapat Umum Pemegang Saham Tahunan Based on the Annual General Shareholders’
yang diselenggarakan pada tanggal 26 April 2018, Meeting held on April 26, 2018, the BKMS's
para pemegang saham BKMS menyetujui pembagian shareholders approved the declaration of
dividen sebesar Rp135.269.845 (termasuk bagian dividends of Rp135,269,845 (including the portion
untuk Pemegang Saham Pengendali) dari laba tahun for the Controlling Interest) out of the profit for the
2015, 2016 dan 2017. Pembayaran dividen year 2015, 2016 and 2017. The payment is subject
tergantung ketersediaan kas setelah to availability of cashflows after reserve for bank
memperhitungkan pembayaran hutang bank dan and shareholder loans, the outstanding balance to
pemegang saham, saldo hutang dividen kepada the NCI of which is presented under “Dividend
pihak nonpengendali disajikan dalam “Hutang Payable”.
Dividen”.

21. MODAL SAHAM 21. SHARE CAPITAL

31 Desember 2024/ 31 Desember 2023/
Desember 31, 2024 December 31, 2023

Total Persentase Total Modal Total Persentase Total Modal

Saham/ Kepemilikan/ Disetor/ Saham/ Kepemilikan/ Disetor/
Number of Percentage of Total Paid-up Number of Percentage of Total Paid-up
Nama Pemegang Saham Shares Ownership Capital Shares Ownership Capital Names of Shareholders

PT Arthakencana Rayatama 12.768.961.300 63,61% 255.379.226 12.077.492.600 60,17% 241.549.852 PT Arthakencana Rayatama
Haryanto Adikoesoemo 205.604.600 1,02% 4.112.092 203.604.600 1,01% 4.072.092 Haryanto Adikoesoemo
Soegiarto Adikoesoemo 101.604.800 0,51% 2.032.096 100.604.800 0,50% 2.012.096 Soegiarto Adikoesoemo
Jimmy Tandyo 39.000.000 0,19% 780.000 37.500.000 0,19% 750.000 Jimmy Tandyo
Bambang Soetiono 4.780.000 0,02% 95.600 3.780.000 0,02% 75.600 Bambang Soetiono
Suresh Vembu 3.727.500 0,02% 74.550 3.627.500 0,02% 72.550 Suresh Vembu
Mery Sofi 2.303.000 0,01% 46.060 603.000 0,00% 12.060 Mery Sofi
Nery Polim 1.050.000 0,01% 21.000 450.000 0,00% 9.000 Nery Polim
Termurti Tiban 450.000 0,00% 9.000 50.000 0,00% 1.000 Termurti Tiban
Masyarakat (masing-masing
di bawah kepemilikan 5%) 6.625.338.400 33,01% 132.506.768 7.309.457.100 36,41% 146.189.142 Public (each below 5% ownership)

Sub-total 19.752.819.600 98,40% 395.056.392 19.737.169.600 98,32% 394.743.392 Sub-total

Saham treasuri 320.655.000 1,60% 6.413.100 336.305.000 1,68% 6.726.100 Treasury stocks

Total 20.073.474.600 100,00% 401.469.492 20.073.474.600 100,00% 401.469.492 Total

Saham Treasuri Treasury Shares

Perusahaan melaksanakan pembelian kembali The Company has conducted shares buyback
saham yang beredar dalam jangka waktu paling lama within a maximum period of 3 months, from
3 bulan, antara tanggal 16 Maret 2020 sampai March 16, 2020 up to June 12, 2020. The Company
dengan tanggal 12 Juni 2020. Perusahaan allocated the maximum amount of Rp500,000,000
mengalokasikan dana sebanyak-banyaknya with maximum buyback of 172,631,882 shares or
Rp500.000.000 untuk pembelian maksimum approximately 4.3% of the Company’s total issued
sejumlah 172.631.882 lembar saham atau sekitar and fully paid shares.
4,3% dari seluruh saham ditempatkan dan disetor
penuh Perusahaan.

97

378 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

21. MODAL SAHAM (lanjutan) 21. SHARE CAPITAL (continued)

Saham Treasuri (lanjutan) Treasury Shares (continued)

Program ini sesuai dengan Peraturan Otoritas Jasa The Program shall be in compliance with the
Keuangan (“OJK”) No. 2/POJK.04/2013. Manajemen Financial Services Authority Regulation (“OJK”)
Perusahaan berkeyakinan bahwa Program ini dapat No. 2/POJK.04/2013. The management believes
mengembalikan kepercayaan investor kepada that the Program can increase and bring back
Perusahaan dan harga saham Perusahaan dapat investors’ confidence in the Company and its share
mencerminkan nilai yang sepadan dengan kelipatan price can reflect the value that is based on market
pasar. multiples.

Perusahaan telah melakukan buyback saham The Company has made a buyback 67,261,000
treasuri sebanyak 67.261.000 saham (setara dengan treasury shares (equivalent to 336,305,000 after
336.305.000 setelah stock split di Januari 2022) stock split in January 2022) acquisition at a total
dengan harga perolehan sebesar Rp118.071.864, cost of Rp118,071,864, which presented as
yang disajikan sebagai akun “Saham Treasuri” yang “Treasury Shares” account that deducted the
mengurangi ekuitas pada laporan posisi keuangan equity in the consolidated statement of financial
konsolidasian. Buyback saham dilakukan sebelum position. Stock buyback is done before the stock
stock split. split.

Perusahaan telah melakukan Keterbukaan Informasi The Company has made the Disclosure of
melalui Surat No. 016/L-AKR-CS/2020 tanggal Information in its Letter No. 016/L-AKR-CS/2020
13 Maret 2020 ke OJK dan BEI. dated March 13, 2020 to OJK and IDX.

Seperti yang diungkapkan pada Surat As disclosed in its Letter No. 072/L-AKR-CS/2023
No. 072/L-AKR-CS/2023 tanggal 19 September 2023 dater September 19, 2023 to OJK, the Company
ke OJK, Perusahaan berencana untuk mengalihkan planned to transfer a portion of the shares (or
sebagian saham (atau sebanyak 156.500.000 156,500,000 shares) from the buyback (treasury
saham) dari saham hasil pembelian kembali (saham shares) through the Management and Employees
treasuri) dalam bentuk Program Pemberian Hak Opsi Stock Option Program (“MESOP”). The MESOP
Kepemilikan Saham kepada Manajemen dan shall be granted to selected participants
Karyawan Perusahaan (“MESOP”). MESOP ini akan (“Participants”), whereby these option rights will
diberikan kepada para peserta terpilih (“Peserta”), later give the Participants the right to purchase (or
yang mana hak opsi tersebut kemudian akan exercise) a number of the Company’s shares, with
diberikan kepada Peserta untuk membeli (atau the terms and conditions determined and regulated
melaksanakan) sejumlah saham Perusahaan, in the Program. The Option has been approved in
dengan syarat dan ketentuan yang ditentukan dan the AGM held in April 2024.
diatur dalam Program. Pelaksanaan dari hak opsi
tersebut telah disetujui RUPS pada bulan April 2024.

98

Annual Report 2024 379

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

21. MODAL SAHAM (lanjutan) 21. SHARE CAPITAL (continued)

Opsi Saham Share Options

Opsi saham yang diberikan dapat dieksekusi selama The share options granted per phase are
tiga tahun dengan periode pelaksanaan sebagai exercisable over the next three years with the
berikut: following exercise period:

Total opsi Total options

MESOP MESOP
Phase I - Agustus 2024 15.650.000 Phase I - August 2024
Phase II - Agustus 2025 46.950.000 Phase II - August 2025
Phase III.A - 1-26 Mei 2026 46.950.000 Phase III.A - May 1-26, 2026
Phase III.B - 1-26 Mei 2026 46.950.000 Phase III.B - May 1-26, 2026

Total opsi yang diberikan 156.500.000 Total options granted

Beban kompensasi saham yang diakui oleh Share compensation expense recognized by the
Perusahaan adalah sebesar Rp12.000.000 pada Company amounted to Rp12,000,000 in 2024. The
tahun 2024. Beban tersebut dicatat sebagai bagian expense is recorded as part of “General and
akun “Beban umum dan administrasi” pada laporan administrative expenses” account in the
laba rugi dan rugi komprehensif lain konsolidasian consolidated statements of profit or loss and other
dan pada bagian ekuitas dalam laporan posisi comprehensive loss and the corresponding equity
keuangan konsolidasian. section in the consolidated statements of financial
position.

Opsi saham tahap I telah dieksekusi seluruhnya pada Phase I options are fully exercised in August 2024.
Agustus 2024.

Opsi saham yang diberikan setiap tahap dapat The stock options granted per phase are
dieksekusi selama tiga tahun sebesar 10%, 30% dan exercisable over the next three years at 10%, 30%
60% setiap tahunnya dari opsi yang diberikan. and 60% of the options granted in such year.

Harga pelaksanaan opsi saham sama dengan harga The exercise price of the share options is equal to
Rp499. Tidak ada alternatif penyelesaian tunai bagi Rp499. There are no cash settlement alternatives
karyawan. Kelompok Usaha tidak memiliki praktik for the employees. The Group does not have a past
penyelesaian tunai di masa lalu untuk penghargaan practice of cash settlement for these awards.
ini.

Tidak ada pembatalan atau modifikasi pada There were no cancellations or modifications to the
penghargaan pada tahun 2024. awards in 2024.

Rata-rata tertimbang sisa umur kontrak opsi saham The weighted average remaining contractual life
yang beredar pada tanggal 31 Desember 2024 for the share options outstanding as at
adalah 1,35 tahun (2023: 2,32 tahun). December 31, 2024 was 1.35 years (2023: 2.32
years).

99

380 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

21. MODAL SAHAM (lanjutan) 21. SHARE CAPITAL (continued)

Opsi Saham (lanjutan) Share Options (continued)

Tabel berikut mencantumkan input ke model yang The following tables list the inputs to the models
digunakan untuk ketiga rencana untuk tahun yang used for the three plans for the year ended
berakhir pada tanggal 31 Desember 2024: December 31, 2024:

2024
Nilai wajar rata-rata tertimbang Weighted average fair values
pada tanggal pengukuran Rp845,97 at the measurement date
Hasil dividen (%) 6,10% Dividend yield (%)
Volatilitas yang diharapkan (%) 41,70% Expected volatility (%)
Suku bunga bebas risiko (%) 6,22% Risk-free interest rate (%)
Ekspektasi opsi gagal diperoleh Expected forfeited option (%)
Tahun 2024 2% Year 2024
Tahun 2025 2% Year 2025
Tahun 2026 15,8% Year 2026
Rata-rata tertimbang harga saham (Rp) 499 Weighted average share price (Rp)
Model yang digunakan Black-scholes Model used

22. TAMBAHAN MODAL DISETOR 22. ADDITIONAL PAID-IN CAPITAL

Rincian akun Tambahan Modal Disetor adalah The Additional Paid-in Capital account details are
sebagai berikut: as follows:
31 Des. 2024/ 31 Des. 2023/
Dec. 31, 2024 Dec. 31, 2023

Penawaran Umum Saham Perdana - 1994 6.000.000 6.000.000 Initial Public Offering - 1994
Biaya emisi efek Share issuance costs
Rights Issue I (2004) (5.616.855) (5.616.855) Rights Issue I (2004)
Rights Issue II (2010), Rights Issue II (2010),
setelah dikurangi dengan biaya net-against share issuance
emisi efek sebesar Rp8.257.089 468.763.370 468.763.370 costs at Rp8,257,089
Pelaksanaan opsi saham MESOP 804.973.325 792.973.325 Exercise of MESOP share options
Penerbitan kembali saham treasuri 2.314.860 - Reissuance of treasury stock
Difference in values
Selisih nilai transaksi restrukturisasi of restructuring transactions
entitas sepengendali 25.043.217 25.043.217 of entities under common control
Total 1.301.477.917 1.287.163.057 Total

100

Annual Report 2024 381

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

23. BAGIAN ATAS PERUBAHAN LAINNYA DARI 23. SHARE OF OTHER CHANGES IN EQUITY OF
EKUITAS ENTITAS ANAK SUBSIDIARIES

31 Desember 2024/December 31, 2024

Penambahan
Saldo Awal/ (Pengurangan)/ Saldo Akhir/
Beginning Additions Ending
Balance (Deductions) Balance

JTT 70.963.060 - 70.963.060 JTT

UEPN 2.838.223 - 2.838.223 UEPN
Anugrah (4.794.465) - (4.794.465) Anugrah
Andahanesa (1.386) - (1.386) Andahanesa
AKRIDA (9.232) (1.418) (10.650) AKRIDA

Neto 68.996.200 (1.418) 68.994.782 Net

31 Desember 2023/December 31, 2023

Penambahan
Saldo Awal/ (Pengurangan)/ Saldo Akhir/
Beginning Additions Ending
Balance (Deductions) Balance

JTT 70.963.060 - 70.963.060 JTT

UEPN 2.838.223 - 2.838.223 UEPN
Anugrah (4.794.465) - (4.794.465) Anugrah
Andahanesa (1.339) (47) (1.386) Andahanesa
AKRIDA (4.330) (4.902) (9.232) AKRIDA

Neto 69.001.149 (4.949) 68.996.200 Net

101

382 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

24. PENDAPATAN DARI KONTRAK DENGAN 24. REVENUE FROM CONTRACT WITH
PELANGGAN CUSTOMERS

Di bawah ini adalah pemisahan pendapatan Set out below is the disaggregation of the Group’s
Kelompok Usaha dari kontrak dengan pelanggan revenue from contracts with customers for the year
untuk tahun yang berakhir pada tanggal 31 Desember ended December 31, 2024 and 2023:
2024 dan 2023:

Tahun yang Berakhir pada Tanggal 31 Desember/

Year Ended December 31,

2024 2023

Berdasarkan produk dan jasa By product and services

Perdagangan dan distribusi Trading and distribution
Bahan Bakar Minyak (BBM) Petroleum
Pihak berelasi (Catatan 32) 1.654.576 1.614.867 Related parties (Note 32)
Pihak ketiga 28.932.533.511 31.867.050.203 Third parties
Kimia dasar dan lainnya Basic chemical and others
Pihak ketiga 6.598.060.864 6.343.964.170 Third parties

Sub-total 35.532.248.951 38.212.629.240 Sub-total

Pabrikan - Pihak ketiga Manufacturing - Third parties

Adhesive 651.720.510 557.800.532 Adhesive

Jasa logistik Logistic services

Operasi pelabuhan dan transportasi Port operations and transportation
Pihak berelasi (Catatan 32) 8.800 4.800 Related party (Note 32)
Pihak ketiga 812.566.838 639.001.108 Third parties
Jasa penyimpanan 202.011.078 184.307.434 Storage services
Lain-lain 63.161.330 74.676.430 Others

Sub-total 1.077.748.046 897.989.772 Sub-total

Tanah kawasan industri dan lainnya Industrial estate land and others
Penjualan tanah kawasan industri 877.260.909 2.068.780.016 Industrial estate land sales
Listrik dan utilitas lainnya 318.147.628 80.226.070 Electricity and other utilities

Sub-total 1.195.408.537 2.149.006.086 Sub-total

Total 38.457.126.044 41.817.425.630 Total

Tahun yang Berakhir pada Tanggal 31 Desember/

Year Ended December 31,

2024 2023

Berdasarkan waktu pengakuan

pendapatan By timing of revenue recognition
Barang ditransfer pada suatu Goods transferred at
waktu 37.061.230.387 40.839.209.787 a point in time
Jasa yang ditransfer pada suatu Services transferred at
waktu 1.216.398.944 826.714.054 a point in time
Jasa yang ditransfer dari waktu
ke waktu 179.496.713 151.501.789 Services transferred over time

Pendapatan total dari kontrak Total revenue from contract with

dengan pelanggan 38.457.126.044 41.817.425.630 customers

102

Annual Report 2024 383

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

25. BEBAN POKOK PENJUALAN DAN PENDAPATAN 25. COST OF SALES AND REVENUES

Tahun yang Berakhir pada Tanggal 31 Desember/

Year Ended December 31,

2024 2023

Perdagangan dan distribusi Trading and distribution

Beban pokok pendapatan: Cost of revenues:
Kimia dasar, Basic chemical, petroleum,
BBM dan lainnya 32.284.931.864 34.283.574.248 and others
Pengiriman, bongkar-muat dan Freight-out, handling charges
pengepakan dan lainnya 422.513.553 458.728.743 and packaging and others
Penyusutan (Catatan 10) 146.992.960 155.831.192 Depreciation (Note 10)
Penyusutan atas aset hak-guna Depreciation of right-of-use assets
(Catatan 11) 48.773.268 36.553.685 (Note 11)

Sub-total 32.903.211.645 34.934.687.868 Sub-total

Pabrikan Manufacturing
Beban pokok penjualan: Cost of goods sold:
Bahan baku yang digunakan 327.433.402 294.187.489 Raw materials used
Tenaga kerja langsung dan Direct labor and factory
biaya overhead pabrik 27.265.461 26.311.710 overhead
Penyusutan (Catatan 10) 2.958.585 2.811.418 Depreciation (Note 10)

Beban pokok produksi 357.657.448 323.310.617 Cost of goods manufactured

Persediaan barang jadi Finished goods
Awal tahun 13.385.650 13.506.298 At beginning of the year
Akhir tahun (15.067.738) (13.385.650) At end of the year

Sub-total 355.975.360 323.431.265 Sub-total

Jasa logistik Logistic services

Pengiriman, bongkar-muat dan Freight-out, handling charges
pengepakan 559.846.694 490.621.475 and packaging
Penyusutan (Catatan 10) 224.410.349 194.410.541 Depreciation (Note 10)
Perbaikan dan pemeliharaan 89.127.799 75.836.243 Repairs and maintenance
Penyusutan dan amortisasi Depreciation and amortization
atas aset hak-guna of right-of-use assets
(Catatan 11) 22.102.753 21.350.717 (Note 11)
Lain-lain 282.524.725 231.976.402 Others

Sub-total 1.178.012.320 1.014.195.378 Sub-total

Tanah kawasan industri dan lainnya 783.258.042 1.341.173.388 Industrial estate land and others

Total 35.220.457.367 37.613.487.899 Total

103

384 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

26. BEBAN USAHA 26. OPERATING EXPENSES

Tahun yang Berakhir pada Tanggal 31 Desember/
Year Ended December 31,

2024 2023

Beban Umum dan Administrasi General and Administrative Expenses

Gaji, upah dan kesejahteraan Salaries, wages and employee
karyawan 593.371.399 561.498.907 benefits
Beban operasional kantor 54.186.518 41.513.697 Office expenses
Penyusutan (Catatan 10) 41.226.442 38.216.403 Depreciation (Note 10)
Perjalanan dinas dan transportasi 40.304.536 37.775.934 Travelling and transportation
Biaya profesional 39.766.599 41.320.812 Professional fees
Pajak dan perizinan 19.133.166 15.268.360 Taxes and licenses
Prasarana dan telekomunikasi 11.934.916 14.322.263 Utilities and telecommunication
Perbaikan dan pemeliharaan 8.624.203 8.546.183 Repairs and maintenance
Sewa kantor dan bangunan (Catatan 11) 8.086.215 8.544.687 Office and building rental (Note 11)
Cadangan penurunan nilai kerugian Allowance for impairment losses
atas piutang usaha dan aset lainnya 6.745.429 67.030.227 on trade and other assets
Asuransi 4.811.592 4.269.580 Insurance
Penyusutan dan amortisasi Depreciation and amortization
aset hak-guna (Catatan 11) 3.206.473 2.555.826 of right-of-use assets (Note 11)
Perlengkapan kantor 2.777.757 2.775.278 Office supplies
Biaya bank dan administrasi 1.508.710 5.229.606 Bank charges and administration
Pengiriman 1.243.227 1.225.763 Delivery
Lain-lain 36.516.741 27.705.047 Miscellaneous

Sub-total 873.443.923 877.798.573 Sub-total

Beban Penjualan Selling Expenses

Transportasi 18.281.853 14.261.313 Transportation
Iklan dan promosi 18.039.442 24.190.394 Advertising and promotion
Perjamuan 4.306.251 4.314.629 Entertainment
Penyusutan (Catatan 10) 755.093 755.092 Depreciation (Note 10)
Lain-lain 59.765.295 53.550.562 Miscellaneous

Sub-total 101.147.934 97.071.990 Sub-total

Total 974.591.857 974.870.563 Total

104

Annual Report 2024 385

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

27. PERPAJAKAN 27. TAXATION

a. Pajak Dibayar di Muka a. Prepaid Taxes

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Pajak pertambahan nilai - neto 126.272.187 64.664.241 Value added tax - net
Lain-lain 20.926.761 25.352.380 Others

Total 147.198.948 90.016.621 Total

b. Hutang Pajak b. Taxes Payable

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Pajak lain-lain Other taxes

Pasal 4 (2) 4.298.000 6.788.427 Article 4 (2)
Pasal 21 1.846.512 9.792.726 Article 21
Pasal 22 7.065.587 6.613.223 Article 22
Pasal 23 dan 26 2.858.703 9.191.454 Articles 23 and 26
Pajak penghasilan Income taxes
Pasal 25 - 12.089.614 Article 25
Pasal 29 23.991.617 181.240.640 Article 29
Pajak pertambahan nilai - neto 82.527.855 49.800.808 Value added tax - net
Pajak Bahan Bakar atas
Kendaraan Bermotor (“PBBKB”) 279.485.206 215.836.195 Motor Vehicle Fuel Tax (“PBBKB”)
Lain-lain 626.344 623.440 Others

Total 402.699.824 491.976.527 Total

105

386 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

27. PERPAJAKAN (lanjutan) 27. TAXATION (continued)

c. Beban Pajak Kini c. Current Tax Expense

Rekonsiliasi antara laba sebelum pajak A reconciliation between profit before income
penghasilan menurut laporan laba rugi dan tax per consolidated statements of profit or
penghasilan komprehensif lain konsolidasian loss and other comprehensive income and
dengan penghasilan kena pajak Perusahaan taxable income of the Company are as follows:
adalah sebagai berikut:

Tahun yang Berakhir pada Tanggal 31 Desember/

Year Ended Desember 31,

2024 2023

Laba sebelum pajak final dan Profit before final and income tax
pajak penghasilan menurut per consolidated statements of
laporan laba rugi dan penghasilan profit or loss and other
komprehensif lain konsolidasian 2.838.907.151 3.687.471.936 comprehensive income
Laba entitas anak Profit of subsidiaries
sebelum pajak (778.327.873) (965.567.585) before tax
Lain-lain 121.478.921 339.422.891 Others
Laba Perusahaan sebelum Income before tax attributable
beban pajak 2.182.058.199 3.061.327.242 to the Company
Efek penyesuaian translasi atas Adjustment translation
laporan keuangan konsolidasian effect on the consolidated
Perusahaan 2.566.812 2.571.901 financial statements of the Company
Pendapatan dividen dari Dividend income from
entitas anak (99.961.538) (229.930.742) subsidiaries
Laba Perusahaan sebelum Income before tax attributable
beban pajak, tidak termasuk to the Company, excluding
efek penyesuaian translasi adjustment translation effect
dan pendapatan dividen yang and dividend income
dikenakan pajak final 2.084.663.473 2.833.968.401 subject to final tax
Perbedaan temporer: Temporary differences:
Penambahan penyisihan Addition for expected
kerugian ekspektasian 4.581.248 3.061.134 credit losses
Penyusutan (34.774.818) (21.566.948) Depreciation
Gain (loss) on disposal of
Laba (rugi) penjualan aset tetap 4.001.261 (12.175.772) property and equipment
Imbalan kerja dan lainnya (49.482.599) (1.883.614) Employment benefits and others
Sub-total (75.674.908) (32.565.200) Sub-total
Perbedaan tetap: Permanent differences:
Beban terkait penghasilan
yang pajaknya bersifat final 214.774.045 189.998.021 Expenses subjected to final tax
Penghasilan sewa yang pajaknya
bersifat final (446.667.451) (413.158.380) Rent income subjected to final tax
Penghasilan bunga yang pajaknya
bersifat final (177.010.655) (126.082.913) Finance income subjected to final tax
Beban pajak (3.064.936) (7.515.327) Tax expenses
Gaji, upah dan kesejahteraan Salaries, wages
karyawan (1.432.448) (1.715.983) and employee benefits
Lain-lain 11.186.663 21.340.581 Others

Sub-total (402.214.782) (337.134.001) Sub-total

Penghasilan kena pajak Taxable income
Perusahaan 1.606.773.783 2.464.269.200 of the Company

106

Annual Report 2024 387

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

27. PERPAJAKAN (lanjutan) 27. TAXATION (continued)

c. Beban Pajak Kini (lanjutan) c. Current Tax Expense (continued)

Perhitungan beban pajak dan hutang pajak kini The current tax expense and payable of the
Perusahaan adalah sebagai berikut: Company are calculated as follows:
Tahun yang Berakhir pada Tanggal 31 Desember/
Year Ended December 31,

2024 2023

Beban pajak kini Current tax expense

Perusahaan 353.490.232 542.139.224 The Company
Entitas Anak 40.275.478 34.902.252 Subsidiaries

Total 393.765.710 577.041.476 Total

Dikurangi pembayaran
pajak di muka Less prepaid taxes
Perusahaan The Company
Pajak penghasilan Income taxes
Pasal 22 274.823.800 149.235.242 Article 22
Pasal 23 21.087.718 188.018.489 Article 23
Pasal 25 43.055.737 36.269.262 Article 25

Sub-total 338.967.255 373.522.993 Sub-total

Entitas Anak 31.896.286 9.434.572 Subsidiaries

Total 370.863.541 382.957.565 Total

Hutang pajak - Pasal 29 Current tax payable - Article 29

Perusahaan 14.522.977 168.616.231 The Company
Entitas Anak 9.468.640 12.624.409 Subsidiaries

Total 23.991.617 181.240.640 Total

Estimasi tagihan pajak penghasilan Estimated claims for tax refund

Perusahaan The Company
PPN - 2024 405.211.438 - VAT - 2024
PPN - 2023 - 148.960.141 VAT - 2023
Entitas Anak 25.969.720 23.562.569 Subsidiaries

Total 431.181.158 172.522.710 Total

Bagian jangka pendek -

Disajikan pada aset lancar Current portion - presented under
lainnya (Catatan 8) 415.609.983 156.248.399 other current assets (Note 8)

Bagian jangka panjang 15.571.175 16.274.311 Long-term portion

Tagihan pengembalian pajak tahun 2023 The estimated claims for tax refund for 2023
merupakan kelebihan bayar Perusahaan was related to the Company’s tax overpayment
berdasarkan Surat Keputusan Pengembalian based on Surat Keputusan Pengembalian
Pendahuluan Kelebihan Pajak (“SKPPKP”) dari Pendahuluan Kelebihan Pajak Bayar or
Kantor Pajak terkait PPN masa (“SKPPKP”) from the Tax Office pertaining to
Oktober-Desember 2023. Perusahaan telah VAT period October-December 2023. The
menerima seluruh pengembalian pajak tersebut Company has fully received the refund during
pada tahun 2024. Tagihan pengembalian 2024. The estimated claims for tax refund for
pajak tahun 2024 merupakan kelebihan 2024 was related to the tax overpayments
bayar Perusahaan terkait PPN masa submitted by the Company pertaining to VAT
September-Desember 2024. period September-December 2024.
107

388 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

27. PERPAJAKAN (lanjutan) 27. TAXATION (continued)

c. Beban Pajak Kini (lanjutan) c. Current Tax Expense (continued)

Kecuali ATI, JTT dan Aruki, entitas anak lainnya Except for ATI, JTT and Aruki, other
masih dalam posisi rugi fiskal. subsidiaries are still in fiscal loss position.

Pajak Penghasilan Pilar Dua Pillar Two Income Taxes

Berbagai negara telah memberlakukan atau Various countries have enacted or intend to
bermaksud memberlakukan undang-undang enact tax legislation to comply with Pillar Two
perpajakan untuk mematuhi aturan model Pilar model rules, including Indonesia (Note 2s).
Dua, termasuk Indonesia (Catatan 2s). The Group is within the scope of
Kelompok Usaha berada dalam lingkup PMK 136/2024, which did not impact 2024
PMK 136/2024, yang tidak berdampak pada consolidated financial statements but may
laporan keuangan konsolidasian 2024 tetapi impact the Group’s consolidated financial
mungkin akan mempengaruhi laporan keuangan statements from January 1, 2025 onward.
konsolidasian Kelompok Usaha mulai 1 Januari
2025 dan seterusnya.

PMK 136/2024 menerapkan mekanisme PMK 136/2024 applies new taxing

perpajakan baru yang mensyaratkan mechanisms under which a Multinational
Perusahaan Multinasional ("PMN") untuk Enterprises (“MNE”) would pay a top-up tax in
membayar pajak tambahan di suatu yurisdiksi a jurisdiction whenever the efective tax rate,
ketika tarif pajak efektif, yang ditentukan determined on a jurisdictional basis under the
berdasarkan yurisdiksi menurut aturan Pilar Pillar Two rules is below a 15% minimum rate.
Dua, lebih rendah dari tarif minimum 15%. PMK 136/2024 sets out the mechanics for
PMK 136/2024 menetapkan mekanisme untuk determining which entity (or entities) in an
menentukan entitas mana (atau entitas-entitas MNE Group should apply the top-up tax and
mana) dalam Grup PMN yang harus menerapkan the portion of such tax that is charged to each
pajak tambahan tersebut dan porsi pajak yang relevant entity.
dibebankan kepada setiap entitas terkait.

Untuk tahun yang berakhir pada tanggal For the year ended December 31, 2024, the
31 Desember 2024, Kelompok Usaha telah Group has applied amendment to PSAK 212:
menerapkan amandemen PSAK 212: Pajak Income Taxes, which provides mandatory
Penghasilan, yang memberikan pengecualian temporary exception from recognizing or
wajib sementara dari pengakuan atau disclosing deferred taxes related to Pillar Two
pengungkapan pajak tangguhan terkait aturan rules such that there is no impact to the 2024
Pilar Dua sehingga tidak ada dampak terhadap consolidated financial statements. The future
laporan keuangan konsolidasian 2024. Dampak impact of Pillar Two rules for the Group is still
masa depan dari aturan Pilar Dua untuk being estimated.
Kelompok Usaha masih dalam tahap estimasi.

Aturan model Pilar Dua adalah kompleks dan The Pillar Two model rules are complex and
Kelompok Usaha sedang dalam proses untuk the Group is still in the process of assessing
mengestimasi dampak potensialnya terhadap potential impact to the consolidated financial
laporan keuangan konsolidasian, jika ada. statements, if any. Based on currently
Berdasarkan informasi yang tersedia saat ini, available information, the Group does not
Kelompok Usaha tidak mengharapkan adanya expect any material impact to the consolidated
dampak material terhadap laporan keuangan financial statements.
konsolidasian.

108

Annual Report 2024 389

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

27. PERPAJAKAN (lanjutan) 27. TAXATION (continued)

d. Pajak Tangguhan d. Deferred Tax

Rincian dari aset dan liabilitas pajak tangguhan The details of the Company and its
Perusahaan dan Entitas Anak adalah sebagai Subsidiaries’ deferred tax assets and liabilities
berikut: are as follows:
Pengaruh ke
posisi
keuangan
Pengaruh ke atau ekuitas/
laba rugi/ Effect to
1 Jan. 2024/ Effect to financial position 31 Des. 2024/
Jan. 1, 2024 profit and loss or equity Dec. 31, 2024

Aset pajak tangguhan Deferred tax assets

Perusahaan The Company
Liabilitas imbalan kerja 62.968.280 (10.886.172) (897.922 ) 51.184.186 Employment benefits liabilities
Cadangan penurunan nilai Allowance for impairment losses
kerugian atas piutang usaha 20.514.374 1.007.875 - 21.522.249 on trade receivables
Akumulasi penyusutan 107.234.962 (6.770.183) - 100.464.779 Accumulated depreciation
Entitas Anak 10.580.234 4.627.358 (35.014) 15.172.578 Subsidiaries

Aset pajak tangguhan - neto 201.297.850 (12.021.122) (932.936) 188.343.792 Deferred tax assets - net

Liabilitas pajak tangguhan - neto (18.384.131) (7.096.746) (218.849) (25.699.726) Deferred tax liabilities - net

Pengaruh ke
posisi
keuangan
Pengaruh ke atau ekuitas/
laba rugi/ Effect to
1 Jan. 2023/ Effect to financial position 31 Des. 2023/
Jan. 1, 2023 profit and loss or equity Dec. 31, 2023

Aset pajak tangguhan Deferred tax assets

Perusahaan The Company
Liabilitas imbalan kerja 61.224.371 (414.395) 2.158.304 62.968.280 Employment benefits liabilities
Cadangan penurunan nilai Allowance for impairment losses
kerugian atas piutang usaha 19.840.925 673.449 - 20.514.374 on trade receivables
Akumulasi penyusutan 114.658.360 (7.423.398) - 107.234.962 Accumulated depreciation
Entitas Anak 9.489.451 2.312.971 (1.222.188) 10.580.234 Subsidiaries

Aset pajak tangguhan - neto 205.213.107 (4.851.373) 936.116 201.297.850 Deferred tax assets - net

Liabilitas pajak tangguhan - neto (11.395.226) (7.295.841) 306.936 (18.384.131) Deferred tax liabilities - net

Manajemen berkeyakinan bahwa aset pajak The management believes that the above
tangguhan pada setiap tanggal pelaporan di atas deferred tax assets at each reporting date are
dapat terpulihkan. recoverable.

109

390 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

27. PERPAJAKAN (lanjutan) 27. TAXATION (continued)

d. Pajak Tangguhan (lanjutan) d. Deferred Tax (continued)

Rekonsiliasi antara beban pajak yang dihitung A reconciliation between tax expense and
dengan menggunakan tarif pajak yang berlaku amounts computed by applying the applied tax
terhadap laba sebelum pajak penghasilan adalah rate to profit before income tax are as follows:
sebagai berikut:
Tahun yang Berakhir pada Tanggal 31 Desember/
Year Ended December 31,

2024 2023

Laba sebelum pajak final dan

beban pajak penghasilan Consolidated profit before
konsolidasian 2.838.907.151 3.687.471.936 final and income tax expense
Laba yang dikenakan pajak final (866.164.342) (1.225.012.277) Profit subject to final tax

Laba sebelum beban pajak Consolidated profit before income

penghasilan konsolidasian tax expense non-final
tidak final yang dikenakan subject to the applicable
tarif pajak yang berlaku 1.972.742.809 2.462.459.659 tax rate

Beban pajak atas laba diluar Tax expense on profit

penghasilan final dengan tarif subject to non-final tax
pajak yang berlaku (434.003.417) (541.741.124) at prevailing tax rates

Dampak pajak atas: Tax effects of:

Perbedaan tetap dan lainnya 21.119.839 (47.447.566) Permanent differences and other

Beban pajak - neto (412.883.578) (589.188.690) Tax expense - net

Pada tanggal 31 Desember 2024, Kelompok As of December 31, 2024, the Group has an
Usaha memiliki estimasi rugi pajak dari entitas estimated tax losses carry forward from its
anaknya yang tidak diakui sebagai aset pajak subsidiaries, which is not recognized as
tangguhan, sebagai berikut: deferred tax assets, as follows:

Tahun
Kedaluwarsa/ Jumlah/ Aset pajak tangguhan/
Expired Year Amount Deferred tax assets

Tahun pajak 2024 2029 6.669.306 1.467.247 2024 fiscal year

Tahun pajak 2023 2028 10.448.272 2.298.620 2023 fiscal year
Tahun pajak 2022 2027 28.122.764 6.187.008 2022 fiscal year
Tahun pajak 2021 2026 30.520.840 6.714.585 2021 fiscal year
Tahun pajak 2020 2025 21.571.103 4.745.643 2020 fiscal year

Total 97.332.285 21.413.103 Total

110

Annual Report 2024 391

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

28. DIVIDEN DAN PENCADANGAN UMUM 28. DIVIDENDS AND GENERAL RESERVE

Berdasarkan Keputusan Direksi Perusahaan yang Based on the Decision of the Company’s Directors
diselenggarakan pada tanggal 23 Juli 2024 yang Meeting held on July 23, 2024 which was approved
disetujui oleh Dewan Komisaris pada tanggal 24 Juli by the Board of Commissioners on July 24, 2024,
2024, Perusahaan mendeklarasikan pembagian the Company declared interim cash dividends at
dividen tunai interim sebesar Rp50 (dalam Rupiah Rp50 (in full Rupiah) per share or amounting to
penuh) per saham atau secara keseluruhan sebesar Rp986,858,480 out of the 2024 interim profit
Rp986.858.480 dari laba interim tahun 2024 yang attributed to equity holder of the parent, which has
diatribusikan kepada pemilik entitas induk, yang telah been paid on August 15, 2024.
dibayarkan pada 15 Agustus 2024.

Dalam Rapat Umum Pemegang Saham Tahunan In the Annual General Shareholders’ Meeting held
yang diselenggarakan pada tanggal 29 April 2024, on April 29, 2024, the Company’s shareholders
para pemegang saham Perusahaan menyetujui approved the distribution of cash dividends of
pembagian dividen tunai sebesar Rp2.467.146.200 Rp2,467,146,200 or Rp125 (in full Rupiah) per
atau Rp125 (dalam Rupiah penuh) per saham dari share out of the 2023 profit attributable to equity
laba tahun 2023 yang diatribusikan kepada pemilik holders of the parent entity. A partial portion of this
entitas induk. Sebagian dividen ini adalah dividen dividend was paid as interim dividends amounting
interim yang telah dibayarkan pada tanggal to Rp986,858,480 or Rp50 (in full Rupiah) per
16 Agustus 2023 sebesar Rp986.858.480 atau Rp50 share were paid on August 16, 2023 and
(dalam Rupiah penuh) per saham dan pada tanggal Rp493,429,240 or Rp25 (in full Rupiah) per share
15 November 2023 sebesar Rp493.429.240 atau were paid on November 15, 2023. Final dividends
Rp25 (dalam Rupiah penuh) per saham. Dividen final of Rp986,858,480 or Rp50 per share (in full
sebesar Rp986.858.480 atau Rp50 per saham Rupiah) have been paid on May 27, 2024.
(dalam Rupiah penuh) telah dibayarkan pada tanggal
27 Mei 2024.

Dalam Rapat Umum Pemegang Saham Tahunan In the Annual General Shareholder’s Meeting
disebutkan di atas, para pemegang saham juga mentioned above, the shareholders also approved
menyetujui pencadangan umum sebesar Rp200.000 the appropriation for general reserve of Rp200,000
dari laba tahun 2023. from the profit of 2023.

Dalam Rapat Umum Pemegang Saham Tahunan In the Annual General Shareholders’ Meeting held
yang diselenggarakan pada tanggal 28 April 2023, on April 28, 2023, the Company’s shareholders
para pemegang saham Perusahaan menyetujui approved the declaration of cash dividends of
pembagian dividen tunai sebesar Rp1.480.287.720 Rp1,480,287,720 or Rp75 (in full Rupiah) per share
atau Rp75 (dalam Rupiah penuh) per saham dari laba out of the 2022 profit attributable to equity holders
tahun 2022 yang diatribusikan kepada pemilik entitas of the parent entity. A partial portion of this dividend
induk. Sebagian dividen ini adalah dividen interim was paid as interim dividends amounting to
yang telah dibayarkan pada tanggal 16 Agustus 2022 Rp493,429,240 or Rp25 (in full Rupiah) per share
sebesar Rp493.429.240 atau Rp25 (dalam Rupiah were paid on August 16, 2022. Final dividends of
penuh) per saham. Dividen final sebesar Rp986,858,480 or Rp50 per share (in full Rupiah)
Rp986.858.480 atau Rp50 per saham (dalam Rupiah have been paid on May 24, 2023.
penuh) telah dibayarkan pada tanggal 24 Mei 2023.

Dalam Rapat Umum Pemegang Saham Tahunan In the Annual General Shareholder’s Meeting
disebutkan di atas, para pemegang saham juga mentioned above, the shareholders also approved
menyetujui pencadangan umum sebesar Rp200.000 the appropriation for general reserve of Rp200,000
dari laba tahun 2022. from the profit of 2022.

111

392 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

29. LIABILITAS IMBALAN KERJA 29. EMPLOYMENT BENEFITS LIABILITIES

A. Imbalan kerja jangka pendek A. Short-term employee benefits

Akrual mencerminkan estimasi imbalan kerja The accrual represents estimated short-term
jangka pendek berupa bonus. benefits i.e. bonuses.

B. Imbalan pasca kerja B. Post-employment benefits

Perusahaan dan Entitas Anak di Indonesia The Company and its Subsidiaries in
memberikan imbalan pasca kerja yang belum Indonesia provide post-employment benefits
didanai untuk karyawan sesuai dengan for their qualifying employees in accordance
Peraturan Pemerintah yang berlaku dan with prevailing Government Regulation and
kebijakan Kelompok Usaha. the Group’s policies.

a. Beban neto manfaat karyawan a. Net employee benefits expenses

Tahun yang Berakhir pada Tanggal 31 Desember/

Year Ended December 31,

2024 2023

Biaya jasa kini 18.993.061 16.745.147 Current service cost

Biaya bunga 9.971.833 9.917.965 Interest cost
Penyesuaian biaya jasa lalu (2.927.389) (51.037) Adjustment of past service cost
Total 26.037.505 26.612.075 Total

b. Perubahan liabilitas imbalan pasca kerja b. Changes in post-employment benefit

adalah sebagai berikut: liabilities are as follows:

30 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Saldo awal 177.230.676 144.724.214 Beginning balance

Biaya diakui dalam laba rugi 26.037.505 26.612.075 Expense recognized in profit or loss
(Keuntungan) kerugian diakui
dalam penghasilan (Gain) loss recognized in
komprehensif lain (4.324.503) 11.753.559 other comprehensive income
Imbalan yang dibayar (19.899.732) (5.859.172) Benefits paid
Saldo akhir 179.043.946 177.230.676 Ending balance

112

Annual Report 2024 393

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

29. LIABILITAS IMBALAN KERJA (lanjutan) 29. EMPLOYMENT BENEFITS LIABILITIES

(continued)

B. Imbalan pasca kerja (lanjutan) B. Post-employment benefits (continued)

c. Perubahan nilai kini kewajiban manfaat c. Changes in present value for the benefits
karyawan adalah sebagai berikut: obligations are as follows:

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Saldo awal tahun 177.230.676 144.724.214 Beginning of year

Biaya jasa kini 18.993.061 16.745.147 Current service cost
Biaya bunga 9.971.833 9.917.965 Interest cost
Imbalan yang dibayar (19.899.732) (5.859.172) Benefits paid
Penyesuaian biaya jasa lalu (2.927.389) (51.037) Adjustment of past service cost
(Keuntungan) kerugian
aktuarial atas: Actuarial (gain) loss arising from:
Perubahan asumsi finansial (3.357.314) (1.640.851) Changes in financial assumptions
Penyesuaian historis (967.189) 13.168.720 Experience adjustment
Perubahan asumsi demografi - 225.690 Changes in demographic assumption

Saldo akhir tahun 179.043.946 177.230.676 End of year

Akrual atas kewajiban Perusahaan dan The costs of providing post-employment

Entitas Anak pada tanggal 31 Desember benefits of the Company and
2024 didasarkan pada perhitungan Subsidiaries as of December 31, 2024
aktuaris independen, kecuali Andahanesa were calculated by independent
didasarkan pada perhitungan internal. actuaries, except for Andahanesa was
Perhitungan aktuaris tersebut menggunakan determined based on internal
metode “Projected Unit Credit” yang computation. The actuarial valuation was
mempertimbangkan asumsi-asumsi berikut: carried out using the “Projected Unit
Credit” method with the following
assumptions:

Tingkat bunga diskonto : 6,37% - 7,13% per tahun/per year : Discount rate
(31 Des. 2023/Dec. 31, 2023: 6,37% - 7,26%)
Tabel mortalitas : TMI 2019 : Mortality table
Tingkat kenaikan gaji : 3,00% - 7,00% : Salary increase
Umur pensiun : 56-58 tahun untuk karyawan dan 62 tahun : Retirement age
untuk direktur/56-58 years for
employees and 62 years for directors
Tingkat cacat : 10% dari tingkat mortalitas/from mortality rate : Disability rate
Tingkat pengunduran diri : 2% atau 6% (tergantung jabatan) sampai usia : Resignation rate
30 tahun dan akan menurun sampai 0% pada
usia 2 tahun sebelum usia pensiun normal/
2% or 6% (depends on position)
up to age 30 and will decrease until 0% at the
age of 2 years before retirement age

113

394 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

29. LIABILITAS IMBALAN KERJA (lanjutan) 29. EMPLOYMENT BENEFITS LIABILITIES

(continued)

B. Imbalan pasca kerja (lanjutan) B. Post-employment benefits (continued)

Analisa sensitivitas untuk asumsi-asumsi yang The sensitivity analysis for significant
signifikan pada tanggal 31 Desember 2024 dan assumptions as of December 31, 2024 and
2023 adalah sebagai berikut: 2023 are as follows:

31 Desember 2024/December 31, 2024 31 Desember 2023/December 31, 2023

Kenaikan tingkat Penurunan tingkat Kenaikan tingkat Penurunan tingkat

bunga diskonto/ bunga diskonto/ bunga diskonto/ bunga diskonto/
Increase in Decrease in Increase in Decrease in
discount rate 1% discount rate 1% discount rate 1% discount rate 1%

Dampak terhadap liabilitas

imbalan pasti (12.162.629) 12.795.674 (7.612.414) 8.205.032 Effect on defined benefit obligation

31 Desember 2024/December 31, 2024 31 Desember 2023/December 31, 2023

Kenaikan Penurunan Kenaikan Penurunan

tingkat gaji/ tingkat gaji/ tingkat gaji/ tingkat gaji/
Increase in Decrease in Increase in Decrease in
salary rate 1% salary rate 1% salary rate 1% salary rate 1%

Dampak terhadap liabilitas

imbalan pasti 14.346.980 (13.689.537) 8.994.590 (8.394.752) Effect on defined benefit obligation

Durasi rata-rata liabilitas manfaat pasca kerja The average duration of the Group’s defined
diakhir periode pelaporan Kelompok Usaha benefits plan obligation at the end of the
berkisar antara 3,57 - 19,02 tahun. reporting period are ranging from 3.57 - 19.02
years.

Jadwal jatuh tempo dari program imbalan pasca The undiscounted maturity profile of post-
kerja yang tidak didiskontokan pada tanggal employment benefit obligation as of
31 Desember 2024 dan 2023 adalah sebagai December 31, 2024 and 2023 are as follows:
berikut:

31 Des. 2024/ 31 Des. 2023/

Des. 31, 2024 Dec. 31, 2023

Dalam 1 tahun 10.295.915 20.830.976 Within 1 year

2 - 5 tahun 89.395.952 58.677.214 2 - 5 years
Lebih dari 5 tahun 1.008.422.150 924.276.003 More than 5 years

Manajemen berkeyakinan bahwa jumlah Management believes that the above amounts
tersebut di atas cukup untuk memenuhi are adequate to cover the requirements at
ketentuan yang berlaku pada tanggal-tanggal reporting dates.
pelaporan.

114

Annual Report 2024 395

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

30. ASET DAN LIABILITAS MONETER DALAM MATA 30. MONETARY ASSETS AND LIABILITIES
UANG ASING SELAIN RUPIAH DENOMINATED IN CURRENCIES OTHER THAN
RUPIAH

Kelompok Usaha memiliki aset dan liabilitas moneter The Group has significant monetary assets and
yang signifikan dalam mata uang asing selain Rupiah liabilities denominated in currencies other than
sebagai berikut: Rupiah as follows:

31 Desember 2024/ 31 Desember 2023/

December 31, 2024 December 31, 2023

Ekuivalen Ekuivalen
Mata Uang dalam Mata Uang dalam
Asing/ Rupiah/ Asing/ Rupiah/
Foreign Equivalent Foreign Equivalent
Currency in Rupiah Currency in Rupiah

Aset Assets
Kas dan setara kas US$ 166.039.818 2.683.535.537 193.298.117 2.979.883.775 Cash and cash equivalents

Piutang usaha Trade receivables

Pihak ketiga US$ 204.166.953 3.299.746.300 192.885.235 2.973.518.784 Third parties

Total aset 5.983.281.837 5.953.402.559 Total assets

Liabilitas Liabilities
Hutang usaha Trade payables
Pihak ketiga US$ 395.278.665 6.388.493.791 467.061.882 7.200.225.978 Third parties

Biaya masih harus dibayar US$ 8.991.638 145.322.861 9.759.210 150.447.977 Accrued expenses

Hutang bank jangka

panjang US$ - - 9.720.977 149.858.574 Long-term bank loans

Total liabilitas 6.533.816.652 7.500.532.529 Total liabilities

Liabilitas neto (550.534.815) (1.547.129.970) Net Liabilities

Perusahaan memiliki kontrak forward untuk lindung The Company has outstanding forward contracts
nilai yang disajikan pada Catatan 34a. as disclosed in Note 34a.

31. LABA PER SAHAM 31. EARNINGS PER SHARE

Berikut adalah data yang digunakan untuk The computation of profit per share is based on the
perhitungan laba per saham: following data:

Tahun yang Berakhir pada Tanggal 31 Desember/

Year Ended December 31,

2024 2023

Laba tahun berjalan yang dapat

diatribusikan kepada Profit for the year attributable to
pemilik entitas induk 2.225.117.975 2.780.349.511 equity holders of the parent entity

Jumlah rata-rata tertimbang saham Weighted average number of

biasa - dasar 19.738.498.778 19.737.169.600 common shares - basic

Laba per saham Earnings per share

(dalam Rupiah penuh) (in full Rupiah)
Yang diatribusikan kepada Attributable to the equity holders
pemilik entitas induk of the parent entity
Dasar 112,73 140,87 Basic

115

396 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

32. TRANSAKSI DAN SALDO DENGAN PIHAK-PIHAK 32. NATURE OF RELATIONSHIP AND
BERELASI TRANSACTIONS WITH RELATED PARTIES
Dalam kegiatan usaha normal, Perusahaan dan The Company and its Subsidiaries, in their regular
Entitas Anak melakukan transaksi dengan pihak- conduct of business, have engaged in transactions
pihak berelasi, dan diringkas sebagai berikut ini: with related parties, and summarized as follows:
Pihak berelasi/ Jenis transaksi/ Total transaksi/ Saldo/
Related parties Type of transaction Total transactions Balances
Transaksi dengan entitas di bawah pengendalian yang sama/
Transactions with entities under common control

PT Komersial Logistik Nusantara Sewa kantor/ Rp24.000 di/in 2024 -

Office rent (2023: Rp12.000)

Persentase terhadap laba neto tahun berjalan/net profit for the year 0,0%

PT AKR Land Development Service charge kepada Rp6.097.978 di/in 2024 -

dan Entitas Anak/ Perusahaan dan Entitas Anak/ (2023: Rp5.453.356)
Subsidiaries Service charge to
the Company and Subsidiaries

Persentase terhadap beban usaha/Percentage to operating expenses 0,6%

Penjualan bahan bakar minyak Rp485.017 di/in 2024 Rp106.000 pada tanggal
(BBM)/Petroleum sales (2023: Rp313.356) 31 Des. 2024/as of Dec. 31, 2024
(Catatan/Note 24) (Catatan/Note 5a)

Persentase terhadap penjualan/Percentage to sales 0,0%

Pendapatan transportasi/ Rp8.800 di/in 2024 Rp1.616 pada tanggal

Transportation revenue (2023: Rp4.800) 31 Des. 2024/as of Dec. 31, 2024
(Catatan/Note 24) (Catatan/Note 5a)

Persentase terhadap pendapatan/Percentage to revenues 0,0%

- Rp54.828.597 pada tanggal

Jual beli tanah/ 31 Des. 2024/Dec. 31, 2024
Sale and purchase of land (31 Des. 2023/Dec. 31, 2023:
Rp54.828.597)

Persentase terhadap liabilitas/Percentage to liability 0,5%

Perolehan aset tetap/ Rp44.987.200 di/in 2024 -

Acquisition of PPE

Persentase terhadap aset/Percentage to assets 0,14%

Perusahaan telah melakukan Keterbukaan Informasi The Company has made the Disclosure of
melalui Surat No. 061/L-AKR-CS/2024 pada tanggal Information in its Letter No. 061/L-AKR-CS/2024
19 Juni 2024 terkait pembelian ruang kantor dari dated June 19, 2024 to OJK and IDX related to the
PT AKR Land Development ke OJK dan BEI. office purchase to PT AKR Land Development. The
Transaksi telah dilakukan di bulan September 2024 transaction has been executed in September 2024
dengan nilai wajar sesuai dengan keterangan dalam at fair value as stated in the disclosure of
surat keterbukaan informasi. information.

116

Annual Report 2024 397

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

32. TRANSAKSI DAN SALDO DENGAN PIHAK-PIHAK 32. NATURE OF RELATIONSHIP AND
BERELASI (lanjutan) TRANSACTIONS WITH RELATED PARTIES
(continued)

Dalam kegiatan usaha normal, Perusahaan dan The Company and its Subsidiaries, in their regular
Entitas Anak melakukan transaksi dengan pihak- conduct of business, have engaged in transactions
pihak berelasi, dan diringkas sebagai berikut ini: with related parties, and summarized as follows:
(lanjutan) (continued)
Pihak berelasi/ Jenis transaksi/ Total transaksi/ Saldo/
Related parties Type of transaction Total transactions Balances

Transaksi dengan entitas asosiasi/

Transactions with an associate
PT Berlian Manyar Sejahtera Penjualan bahan bakar minyak Rp1.169.559 di/in 2024 Rp835.861 pada tanggal
(BBM)/Petroleum sales (2023: Rp1.301.511) 31 Des. 2024/Dec. 31, 2024
(Catatan/Note 24) (31 Des. 2023/Dec. 31, 2023:
Rp132.880)
(Catatan/Note 5a)

Persentase terhadap penjualan/Percentage to sales 0,0%

Management fee kepada Rp3.578.736 di/in 2024 -

Perusahaan dan Entitas Anak/ (2023: Rp1.573.310)
Management fee to
the Company and Subsidiaries

Persentase terhadap laba neto tahun berjalan/Percentage to net profit for the year 0,2%

Sewa tanah/ Rp2.844.703 di/in 2024 Rp2.133.528 pada tanggal

Land lease (2023: Rp2.142.823) 31 Des. 2024/Dec. 31, 2024
(31 Des. 2023/Dec. 31, 2023:
Rp2.857.098)

Persentase terhadap aset/Percentage to assets 0,0%

Semua transaksi-transaksi di atas secara individu All the above transactions individually are less than
tidak melebihi 1% dari jumlah konsolidasian. 1% of total consolidated amounts.

Transaksi-transaksi dengan pihak-pihak berelasi The transactions with the related parties are made
dilakukan dengan persyaratan dan kondisi yang at terms and conditions as agreed among the
disepakati antara para pihak. parties.

Manajemen berpendapat tidak diperlukan cadangan Management believes that no allowance for
kerugian penurunan nilai atas kemungkinan tidak impairment losses on related party receivables is
tertagihnya piutang dari pihak berelasi. required to cover possible losses on uncollectible
accounts.

117

398 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

32. TRANSAKSI DAN SALDO DENGAN PIHAK-PIHAK 32. NATURE OF RELATIONSHIP AND
BERELASI (lanjutan) TRANSACTIONS WITH RELATED PARTIES
(continued)

Kompensasi manajemen kunci Key management compensation

Manajemen kunci termasuk Dewan Komisaris dan Key management includes the Company’s Boards
Direksi Perusahaan. Rincian atas kompensasi yang of Commissioners and Directors. The details of
diberikan adalah sebagai berikut: compensation provided are as follows:

Dewan Komisaris Board of Commissioners

Tahun yang Berakhir pada Tanggal 31 Desember/

Year Ended December 31,

2024 2023

Imbalan jangka pendek 24.366.897 21.074.204 Short-term benefits

Direksi Board of Directors

Tahun yang Berakhir pada Tanggal 31 Desember/
Year Ended December 31,

2024 2023

Imbalan jangka pendek 107.379.782 97.898.811 Short-term benefits

Imbalan pasca kerja 2.326.944 2.652.036 Post-employment benefits

Total 109.706.726 100.550.847 Total

33. INFORMASI SEGMEN 33. SEGMENT INFORMATION

Aktivitas usaha Perusahaan dan Entitas Anak dibagi The Company’s and Subsidiaries’ businesses are
atas empat (4) segmen operasi utama dan melayani divided into four (4) main operating segments and
pasar domestik dan internasional. serve the local and international market.

Segmen operasi adalah sebagai berikut: The operating segments are as follows:

· Perdagangan dan distribusi · Trading and distribution

Segmen ini mendistribusikan produk BBM dan This segment distributes petroleum products
beragam jenis bahan-bahan kimia dasar seperti and various kinds of basic chemicals such as
caustic soda, sodium sulfat, PVC resin dan soda caustic soda, sodium sulphate, PVC resin and
ash. soda ash.

· Jasa logistik · Logistics services

Segmen ini menyediakan beragam jasa logistik This segment provides various kinds of
seperti penyewaan tangki penyimpanan dan logistics services such as rental of storage
gudang, jasa pengepakan, bongkar muat dan tanks and warehouses, bagging, port handling
jasa transportasi darat dan laut, terutama untuk and land and sea transportation services
produk-produk kimia cair dan padat di Indonesia mainly for liquid and solid chemical and
serta produk BBM di Indonesia. petroleum products in Indonesia.

· Pabrikan · Manufacturing

Segmen ini memproduksi bahan perekat oleh This segment produces adhesive materials by
Aruki. Aruki.

118

Annual Report 2024 399

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

33. INFORMASI SEGMEN (lanjutan) 33. SEGMENT INFORMATION (continued)

Segmen operasi adalah sebagai berikut: (lanjutan) The operating segments are as follows: (continued)

· Kawasan industri dan jasa utilitas lainnya yang · Industrial estate and related utility services
terkait

Segmen ini merupakan segmen Kelompok This segment of the Group is under BKMS, an
Usaha di bawah BKMS, entitas anak yang indirect subsidiary of the Company through
dimiliki secara tidak langsung lewat UEPN. UEPN. The industrial estate is part of JIIPE
Kawasan industri ini adalah bagian dari proyek project (Note 13) developed together by
JIIPE (Catatan 13) yang dikembangkan antara BKMS and BJTI, a subsidiary of Pelindo. The
BKMS dan BJTI, entitas anak dari Pelindo. segment comprises of sales and lease of
Segmen ini terdiri dari penjualan dan penyewaan industrial estate land, sales of electricity and
tanah kawasan industri, penjualan listrik dan jasa other related services to tenants of the estate.
terkait lainnya kepada tenants kawasan tersebut.

Manajemen memantau hasil operasi dari unit Management monitors the operating results of its
usahanya secara terpisah guna keperluan business units separately for the purpose of
pengambilan keputusan mengenai alokasi sumber making decisions about resource allocation and
daya dan penilaian kinerja. Kinerja segmen dievaluasi performance assessment. Segment performance
berdasarkan laba atau rugi operasi dan diukur secara is evaluated based on operating profit or loss and
konsisten dengan laba atau rugi operasi pada laporan is measured consistently with operating profit or
keuangan konsolidasian. loss in the consolidated financial statements.

Tabel berikut ini menyajikan informasi pendapatan The following table presents revenue and profit,
dan laba dan aset dan liabilitas tertentu sehubungan and certain asset and liability information regarding
dengan segmen operasi Kelompok Usaha: the Group’s operating segments:
31 Desember 2024/December 31, 2024 dan/and
tahun yang berakhir tanggal tersebut/the year then ended

Perdagangan Kawasan Penyesuaian/

dan distribusi/ industri/ Eliminasi/
Trading Pabrikan/ Logistik/ Industrial Lainnya/ Total/ Adjustments/ Neto/
and distribution Manufacturing Logistics estate Others Total Eliminations Net

Pendapatan dari kontrak Revenue from contract

dengan pelanggan 35.532.248.951 651.720.510 1.077.748.046 1.195.408.537 - 38.457.126.044 - 38.457.126.044 with customers
Pendapatan sewa - - 87.258.660 185.108.594 - 272.367.254 - 272.367.254 Rental income
Pendapatan antar segmen 293.723.964 - 446.085.669 - - 739.809.633 (739.809.633) - Inter-segment sales

35.825.972.915 651.720.510 1.611.092.375 1.380.517.131 - 39.469.302.931 (739.809.633) 38.729.493.298

Penyusutan 172.832.766 7.186.451 212.475.176 22.603.261 - 415.097.654 1.245.775 416.343.429 Depreciation

Bagian atas laba Share in profit

entitas asosiasi - - 46.467.083 - 46.467.083 - 46.467.083 of associates

Penghasilan keuangan - neto 285.415.426 4.657.621 9.700.267 94.394.444 - 394.167.758 (95.283.661) 298.884.097 Finance income - net

Beban keuangan (98.128.056) (16.248) (23.699.859) (28.660.269) (2.513.219) (153.017.651) 68.108.540 (84.909.111) Finance costs

Laba (rugi) segmen 2.231.274.772 154.462.683 286.730.148 524.958.053 (2.610.180) 3.194.815.476 (355.908.325) 2.838.907.151 Segment profit (loss)

Aset segmen 11.705.359.539 377.797.547 3.658.626.343 12.798.290.626 42.653.746 28.582.727.801 4.525.956.567 33.108.684.368 Segment assets

Liabilitas segmen 11.004.246.246 43.667.813 45.392.084 7.357.071.127 40.403.652 18.490.780.922 (6.089.028) 18.484.691.894 Segment liabilities

Additions to property,
Penambahan aset tetap 573.336.690 1.599.207 482.080.884 208.537.434 - 1.265.554.215 - 1.265.554.215 plant and equipment

119

400 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

33. INFORMASI SEGMEN (lanjutan) 33. SEGMENT INFORMATION (continued)

Tabel berikut ini menyajikan informasi pendapatan The following table presents revenue and profit,
dan laba dan aset dan liabilitas tertentu sehubungan and certain asset and liability information regarding
dengan segmen operasi Kelompok Usaha: (lanjutan) the Group’s operating segments: (continued)

31 Desember 2023/Desember 31, 2023 dan/and

tahun yang berakhir tanggal tersebut/the year then ended

Perdagangan Kawasan Penyesuaian/

dan distribusi/ industri/ Eliminasi/
Trading Pabrikan/ Logistik/ Industrial Lainnya/ Total/ Adjustments/ Neto/
and distribution Manufacturing Logistics estate Others Total Eliminations Net

Pendapatan dari kontrak Revenue from contract

dengan pelanggan 38.212.629.240 557.800.532 897.989.772 2.149.006.086 - 41.817.425.630 - 41.817.425.630 with customers
Pendapatan sewa - - 95.859.850 173.666.956 - 269.526.806 - 269.526.806 Rental income
Pendapatan antar segmen 375.800.633 - 429.266.117 - - 805.066.750 (805.066.750) - Inter-segment sales

38.588.429.873 557.800.532 1.423.115.739 2.322.673.042 - 42.892.019.186 (805.066.750) 42.086.952.436

Penyusutan 176.322.156 7.273.287 191.148.793 16.029.560 - 390.773.796 1.250.850 392.024.646 Depreciation

Bagian atas laba Share in profit

entitas asosiasi - - 34.534.891 - - 34.534.891 - 34.534.891 of associates

Penghasilan keuangan - neto 388.352.789 8.122.442 5.874.887 4.426.877 - 406.776.995 (245.884.855) 160.892.140 Finance income - net

Beban keuangan (131.345.434) (102.516) (38.085.783) (10.543.230) (2.476.205) (182.553.168) 114.063.932 (68.489.236) Finance costs

Laba (rugi) segmen 2.836.890.865 113.763.934 261.511.652 886.398.953 (88.559.915) 4.010.005.489 (322.533.553) 3.687.471.936 Segment profit (loss)

Aset segmen 10.363.737.275 354.488.646 4.811.437.147 10.228.795.296 42.410.615 25.800.868.979 4.495.702.827 30.296.571.806 Segment assets

Liabilitas segmen 10.145.833.540 42.045.614 347.118.692 5.898.148.497 40.276.028 16.473.422.371 (219.808.078) 16.253.614.293 Segment liabilities

Additions to property,
Penambahan aset tetap 224.696.108 8.058.222 232.732.839 467.997.352 - 933.484.521 - 933.484.521 plant and equipment

Beberapa akun tertentu tidak dialokasikan ke segmen Certain accounts are not allocated to individual
individual karena akun-akun tersebut dikelola secara segments as those accounts are managed on a
kelompok di mana rekonsiliasinya disajikan di bawah: group basis which reconciliations are shown
belows:

Rekonsiliasi atas: Reconciliation of:

Tahun yang Berakhir pada Tanggal 31 Desember/
Year Ended Desember 31,

2024 2023

Laba segmen 3.194.815.476 4.010.005.489 Segment profit

Eliminasi antar segmen (23.629.008) (111.968.353) Inter-segment eliminations
Beban penjualan (34.120.243) (32.294.062) Selling expenses
Beban umum dan administrasi (533.769.430) (481.085.734) General and administratives expenses
Penghasilan keuangan 273.810.521 384.163.085 Finance income
Beban keuangan (74.355.128) (120.278.963) Finance costs
Laba (rugi) selisih kurs - neto 1.562.004 4.000.636 Foreign exchange gain (loss) - net
Lain-lain 34.592.959 34.929.838 Others

Laba Kelompok Usaha 2.838.907.151 3.687.471.936 Group Segment Profit

120

Annual Report 2024 401

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

33. INFORMASI SEGMEN (lanjutan) 33. SEGMENT INFORMATION (continued)

Beberapa akun tertentu tidak dialokasikan ke segmen Certain accounts are not allocated to individual
individual karena akun-akun tersebut dikelola secara segments as those accounts are managed on a
kelompok di mana rekonsiliasinya disajikan di bawah: group basis which reconciliations are shown
(lanjutan) belows: (continued)

31 Des 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Aset segmen 28.582.727.801 25.800.868.979 Segment assets

Eliminasi antar segmen (1.328.271.564) (2.074.292.145) Inter-segment eliminations
Kas dan setara kas 4.225.823.761 5.400.359.611 Cash and cash equivalents
Aset lain-lain 808.126.273 372.855.646 Other assets
Aset tetap - neto 794.552.081 738.373.490 Property, plant and equipment - net
Piutang lain-lain 25.726.016 58.406.225 Other receivables

Aset Operasi Kelompok Usaha 33.108.684.368 30.296.571.806 Group Operating Assets

31 Des 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Liabilitas segmen 18.465.081.196 16.473.422.371 Segment liabilities

Eliminasi antar segmen (599.010.701) (1.026.664.315) Inter-segment eliminations
Hutang lain-lain dan Other payables and
biaya masih harus dibayar 372.039.492 447.803.117 accrued expenses
Liabilitas imbalan pasca kerja 126.472.041 127.631.889 Post-employment benefits liabilities
Hutang pajak 94.410.140 175.896.226 Taxes payable
Liabilitas pajak tangguhan 25.699.726 18.691.068 Deferred tax liabilities
Hutang obligasi - 36.833.937 Bonds payables

Liabilitas Operasi Kelompok Usaha 18.484.691.894 16.253.614.293 Group Operating Liabilities

Semua unit Kelompok Usaha, beroperasi di All the business units in the Group, operate in
Indonesia. Indonesia.

121

402 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

34. PERJANJIAN PENTING, IKATAN, DAN 34. SIGNIFICANT AGREEMENTS, COMMITMENTS,

LIABILITAS KONTINJENSI AND CONTINGENT LIABILITY

Perusahaan The Company

a. Pada tanggal 31 Desember 2024, Perusahaan a. As of December 31, 2024, the Company has
memiliki kontrak forward dari beberapa bank di outstanding forward contracts from several
bawah ini. Tujuan penandatanganan kontrak ini banks below. The purpose of entering those
adalah untuk lindung nilai dari risiko fluktuasi contracts is to hedge the US Dollar currency
mata uang Dolar AS terhadap Rupiah yang movement risk against Rupiah arising from the
berasal dari pembayaran kepada pemasok. payments to its suppliers. All the contracts
Semua kontrak tersebut memiliki periode jatuh have a maturity date of less than three months
tempo kurang dari tiga bulan. Jumlah bersih nilai period. The net total fair values of those
wajar keseluruhan kontrak tersebut sebesar contracts amounting to Rp3,337,087 is
Rp3.337.087 disajikan pada akun piutang lain- presented as other receivables in the
lain pada laporan posisi keuangan konsolidasian consolidated statement of financial position on
tanggal 31 Desember 2024 dan perubahan nilai December 31, 2024 and the net changes in fair
wajar sebesar jumlah yang sama disajikan pada values at the same amount is presented as
akun laba selisih kurs pada laporan laba rugi dan foreign exchange gain in the consolidated
penghasilan komprehensif lain konsolidasian. statement of profit or loss and other
Perusahaan tidak menerapkan akuntansi lindung comprehensive income. The Company’s
nilai untuk kontrak forward tersebut. forward contracts are not accounted for under
hedge accounting.

Nilai nominal/ Nilai wajar/

Nominal value Fair value
(dalam Dolar AS/ (dalam Rupiah/
in US Dollar) in Rupiah)

PT Bank Mizuho Indonesia 33.650.000 1.605.509 PT Bank Mizuho Indonesia

PT Bank Danamon Indonesia Tbk 32.900.000 1.001.115 PT Bank Danamon Indonesia Tbk
PT Bank Permata Tbk 14.300.000 722.780 PT Bank Permata Tbk
PT Bank CIMB Niaga Tbk 2.000.000 7.683 PT Bank CIMB Niaga Tbk

Total 82.850.000 3.337.087 Total

b. Perusahaan memiliki perjanjian distribusi b. The Company has a dealership agreement

dengan PT Asahimas Chemical (Asahimas) with PT Asahimas Chemical (Asahimas)
dimana Asahimas telah menunjuk Perusahaan whereby Asahimas has appointed the
sebagai penyalur untuk produk-produk kimia Company as the dealer of Asahimas chemical
Asahimas di Indonesia. Perjanjian ini berlaku products in Indonesia. The agreement is valid
satu tahun dan diperbaharui secara tahunan for one-year period and is renewable on a
kecuali jika dihentikan oleh kedua belah pihak yearly basis unless terminated by both parties
dengan pemberitahuan tertulis lebih dahulu. with prior written notice.

Sehubungan dengan perjanjian di atas, In connection with the above agreement, the
Perusahaan diharuskan untuk menerbitkan bank Company is required to issue a bank
garansi (payment bonds) kepada Asahimas guarantee (payment bonds) to Asahimas
sebesar Rp32.000.000. Bank garansi tersebut amounting to Rp32,000,000. Such a bank
akan dipegang oleh Asahimas sampai dengan guarantee will be held by Asahimas until the
perjanjian tersebut dihentikan oleh kedua belah dealership agreement is terminated by both
pihak. Bank garansi tersebut dikeluarkan oleh parties. The bank guarantee was provided by
Mandiri (Catatan 34i). Mandiri (Note 34i).

122

Annual Report 2024 403

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

34. PERJANJIAN PENTING, IKATAN, DAN 34. SIGNIFICANT AGREEMENTS, COMMITMENTS,

LIABILITAS KONTINJENSI (lanjutan) AND CONTINGENT LIABILITY (continued)

Perusahaan (lanjutan) The Company (continued)

c. Perusahaan mengadakan perjanjian sewa tanah c. The Company entered into several long-term
jangka panjang dengan PT Pelabuhan Indonesia land lease agreements with PT Pelabuhan
(Persero) (“Pelindo”) di pelabuhan Tanjung Priok Indonesia (Persero) (“Pelindo”) in Tanjung
dan pelabuhan lainnya dimana tangki-tangki Priok and other port areas where the
penyimpanan milik Perusahaan berada. Masa Company’s storage tanks are located. The
sewa akan berakhir pada tahun 2025 hingga lease agreements will expire from 2025 to
2034. Saldo yang belum diamortisasi atas hak 2034. The balance of unamortized land lease
sewa tanah sebesar Rp69.979.287 pada tanggal rights of Rp69,979,287 as of December 31,
31 Desember 2024 (2023: Rp61.269.140) 2024 (2023: Rp61,269,140) is recorded as
|dicatat sebagai bagian dari “Aset hak-guna” part of “Right-of-use assets” (Note 11).
(Catatan 11).

d. Pada tanggal 31 Desember 2024, Perusahaan d. As of December 31, 2024, the Company has
memiliki acceptance dan open L/C sebesar acceptance and open L/C amounting to
US$156.671.758 dan Payable Services sebesar US$156,671,758 and Payable Services
US$168.488.938 dan Rp1.987.902.019 dari amounting to US$168,488,938 and
beberapa bank. Rp1,987,902,019 from several banks.

Pada tanggal 31 Desember 2024, Perusahaan As of December 31, 2024, the Company also
juga memiliki bank garansi sebesar has an outstanding bank guarantee amounting
Rp35.338.414 dari Mandiri. to Rp35,338,414 from Mandiri.

e. Pada tanggal 23 Desember 2023, Perusahaan e. On December 23, 2023, the Company has
telah ditunjuk kembali oleh Badan Pengatur Hilir been reappointed by Badan Pengatur Hilir
Minyak dan Gas Bumi (“BPH Migas”) sebagai Minyak dan Gas Bumi (“BPH Migas”) as the
pendamping dari PT Pertamina (Persero) partner of PT Pertamina (Persero)
(PERTAMINA) untuk penyediaan dan (PERTAMINA) in the supply and
pendistribusian minyak solar sebanyak distribution of gas oil with a total of
167.515 kiloliter di tahun 2024 yang 167,515 kiloliters in 2024 which covers
mencakup wilayah Sumatera, DKI Jakarta, an area of Sumatera, DKI Jakarta, Banten,
Banten, Jawa dan Kalimantan berdasarkan Java and Kalimantan, based on the
Surat Keputusan dari Kepala BPH Migas Decision Letters of the Chairman of BPH
No. 90/P3JBT/BPH Migas/KOM/2023. Migas No. 90/P3JBT/BPH Migas/KOM/2023.

Sehubungan dengan penunjukan di atas, In relation to the appointment above, the

Perusahaan telah menandatangani perjanjian Company has entered into agreements with
dengan pihak-pihak lain (operator) dari waktu ke other parties (operators) from time to time
waktu sejak bulan Desember 2009 untuk since December 2009 to open SPBU in the
membuka SPBU di area yang dialokasikan ke area allocated to the Company based on the
Perusahaan berdasarkan surat penunjukan. appointment letter. There are several types of
Terdapat beberapa jenis perjanjian yang arrangement offered to the parties in relation
ditawarkan kepada pihak-pihak tersebut to the operations of the gas stations such as
sehubungan dengan pengoperasian stasiun “dealer owns dealer operates” type and
penyalur seperti jenis “dealer owns dealer “company owns dealer operates” type. The oil
operates” dan “company owns dealer operates”. pump dispenser for the gas station in all types
Pompa dispenser BBM untuk stasiun penyalur of arrangement are supplied by the Company
disediakan oleh Perusahaan dengan sistem on loan basis at no cost and shall be returned
pinjam tanpa biaya dan harus dikembalikan to the Company at the end of the agreement.
kepada Perusahaan pada akhir perjanjian.

123

404 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

34. PERJANJIAN PENTING, IKATAN, DAN 34. SIGNIFICANT AGREEMENTS, COMMITMENTS,

LIABILITAS KONTINJENSI (lanjutan) AND CONTINGENT LIABILITY (continued)

Perusahaan (lanjutan) The Company (continued)

Perjanjian dengan operator dari SPBU berkisar The agreements with the operators of SPBU
antara 10 sampai 20 tahun dengan pembayaran range from 10 to 20 years with a compensation
kompensasi yang dihitung tergantung jumlah computed dependent on the sales quantity in
penjualan di masa yang akan datang, namun the future, and can be early terminated
dapat dihentikan lebih awal tergantung dari dependent on certain conditions, among others,
kondisi tertentu, yang berhubungan dengan related to the compliance of the operators to the
kepatuhan operator terhadap ketentuan yang provisions in the agreements in operating
dipersyaratkan dalam perjanjian untuk SPBUs.
pengoperasian SPBU.

Perusahaan juga memiliki dan mengoperasikan The Company also owns and operates SPBU
SPBU yang dikenal dengan jenis “company known as “company owns company operates”
owns company operates”. type.

Perusahaan berhak menerima pembayaran The Company is entitled to receive the

penggantian subsidi dari harga jual dari subsidized portion of the selling price from
Pemerintah berdasarkan ketentuan yang the Government based on the applicable
berlaku. Jumlah penyaluran minyak solar yang ruling. Total distribution amounts of
diakui adalah sebesar Rp1.709.434.235 untuk gas oil and gasoline recognized amounted
tahun yang berakhir pada tanggal 31 Desember Rp1,709,434,235 for the year ended
2024 (2023: Rp1.563.744.165), termasuk subsidi December 31, 2024 (2023: Rp1,563,744,165),
yang diklaim ke Kementerian Keuangan. including the subsidy claimed to Ministry of
Finance.

f. Pada tanggal 31 Desember 2024, Perusahaan f. As of December 31, 2024, the Company has
telah menandatangani kesepakatan kerja atas signed an agreement for constructions work of
pekerjaan pembangunan fasilitas dermaga, jetty, port and other facilities with contractors
fasilitas pelabuhan dan lainnya dengan and has committed capital expenditure for
kontraktor dan memiliki komitmen pengeluaran property, plant and equipment approximately
modal untuk aset tetap sekitar Rp151.344.517 Rp151,344,517 (2023: Rp15,091,341).
(2023: Rp15.091.341).

g. Pada tanggal 26 Juni 2014, Perusahaan g. On June 26, 2014, the Company obtained
memperoleh fasilitas kredit bersifat tanpa uncommitted non-cash credit facilities from
komitmen dari Standard Chartered Bank, cabang Standard Chartered Bank Indonesia branch
Indonesia dengan kombinasi limit dari dengan with a combined limit of various sub-limit in
beberapa sub-limit dari Import L/C, Import Loan Import L/C facilities, Import Loan Facility,
Facility, Import Invoice Financing Facility, dan Import Invoice Financing Facility, and Export
Export Invoice Financing Facility dengan total Invoice Financing Facility with total limit
limit US$50.000.000. Perjanjian ini telah diubah amounting to US$50,000,000. The Agreement
dari waktu ke waktu, terakhir pada tanggal 14 has been amended from
Februari 2023. time to time, the latest of which is on
February 14, 2023.

Perjanjian ini mensyaratkan Perusahaan untuk The Agreement also requires the Company to
memenuhi beberapa rasio keuangan tertentu. meet certain financial ratios. The agreement
Perjanjian ini juga memuat klausul perpanjangan also contains an automatic renewal clause of a
secara otomatis untuk basis periode setiap period of 12 months unless terminated by the
12 bulan, kecuali diakhiri oleh Bank dari waktu ke Bank from time to time.
waktu.

124

Annual Report 2024 405

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

34. PERJANJIAN PENTING, IKATAN, DAN 34. SIGNIFICANT AGREEMENTS, COMMITMENTS,

LIABILITAS KONTINJENSI (lanjutan) AND CONTINGENT LIABILITY (continued)
Perusahaan (lanjutan) The Company (continued)
h. Pada tahun 2007, Perusahaan memperoleh h. In 2007, the Company obtained unsecured
fasilitas kredit tanpa jaminan dengan dasar and uncommitted credit facilities from
uncommitted dari JP Morgan Chase Bank N.A., JP Morgan Chase Bank N.A., Jakarta Branch,
Cabang Jakarta, dengan jumlah maksimum with maximum facility amount US$30,000,000,
kredit adalah sebesar US$30.000.000, untuk for issuance of L/C, Payable Financing and
fasilitas L/C, Payable Financing dan Trust Trust Receipt. These facilities have been
Receipt. Fasilitas ini telah diperpanjang sampai extended until November 15, 2025.
dengan tanggal 15 November 2025.
i. Pada tanggal 11 November 2009, Perusahaan i. On November 11, 2009, the Company signed
menandatangani perjanjian pinjaman dengan loan agreements with Mandiri, whereby
Mandiri, dimana Mandiri setuju untuk Mandiri agreed to provide three credit facilities
menyediakan tiga fasilitas kredit (termasuk (including the term loan facility as disclosed in
fasilitas pinjaman berjangka yang disajikan pada Note 18) to the Company. These facilities are
Catatan 18) kepada Perusahaan. Fasilitas intended for purchase of petroleum and
tersebut digunakan untuk pembelian produk chemical products, hedging and tender
bahan bakar minyak (BBM) dan bahan kimia, projects and are available for one year from
transaksi lindung nilai (hedging) dan keperluan the signing date. This agreement has been
tender proyek dan fasilitas ini tersedia untuk amended on January 9, 2025. These facilities
jangka waktu satu tahun dari tanggal have been extended until November 9, 2025.
penandatanganan perjanjian. Perjanjian ini telah
diamendemen pada tanggal 9 Januari 2025.
Fasilitas ini telah diperpanjang sampai dengan
tanggal 9 November 2025.
Fasilitas yang tersedia adalah sebagai berikut: The facilities available are as follows:
i) Fasilitas pinjaman non-kas sebesar i) Committed and revolving non-cash loan
US$450.000.000, dengan beberapa sub- at US$450,000,000, with various sub-limit
limit untuk fasilitas LC/SKBDN, T/R atas for LC/SKBDN, T/R facility base on L/C,
dasar L/C, Deferred Payment, dan Standby Deferred Payment, and Standby L/C
L/C (“SBLC”), yang tersedia sebagai Global (“SBLC”) facility, which available as
line dapat digunakan oleh CPIT, anak usaha Global line for CPIT, the Company’s
Perusahaan; subsidiary;
ii) Fasilitas Bank Garansi sebesar ii) Bank Guarantee facility at
US$100.000.000; US$100,000,000;
iii) Fasilitas hedging FX sebesar iii) Hedging FX facility at US$50,000,000.
US$50.000.000.
j. Perusahaan memiliki fasilitas pinjaman dari j. The Company obtained loan facilities from
Permata yang mencakup: Permata comprising of:
i) Fasilitas revolving yang bersifat i) Uncommitted revolving loan facility
uncommitted sebesar Rp200.000.000; amounting to Rp200,000,000;
ii) Fasilitas transaksi valuta asing dengan LER ii) Foreign exchange facility with LER
sebesar US$20.000.000; amounting to US$20,000,000;
iii) Fasilitas kredit tanpa jaminan dengan dasar iii) Unsecured and uncommitted credit
uncommitted berupa Omnibus L/C Impor, facilities of Omnibus L/C Import consisting
yang terdiri dari fasilitas L/C dan SKBDN, of L/C and SKBDN, CBN Discrepant.
CBN Discrepant, Bank Garansi dan Bank Guarantee and Payable Services
Payable Services, dengan total limit Facility, with a total limit US$100,000,000,
US$100.000.000, yang mana pada bulan which on September 2024, the Payable
September 2024 limit fasilitas Payable Services facility has been increased to
Services telah ditingkatkan menjadi US$300,000,000.
US$300.000.000.
Fasilitas ini tersedia sampai dengan tanggal These facilities are available until October 7,
7 Oktober 2025. 2025.
125

406 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

34. PERJANJIAN PENTING, IKATAN, DAN 34. SIGNIFICANT AGREEMENTS, COMMITMENTS,

LIABILITAS KONTINJENSI (lanjutan) AND CONTINGENT LIABILITY (continued)

Perusahaan (lanjutan) The Company (continued)

k. Pada tahun 2005 dan 2006, Perusahaan k. In 2005 and 2006, the Company entered into
mengadakan perjanjian pinjaman dengan BCA loan agreements with BCA whereby BCA
dimana BCA setuju untuk memberikan beberapa agreed to provide several credit facilities to the
fasilitas kepada Perusahaan. Fasilitas-fasilitas Company. These facilities are used for
tersebut digunakan untuk modal kerja, working capital, petroleum and chemical
mengimpor BBM dan bahan kimia, transaksi import transactions, hedging and for
lindung nilai (hedging) dan untuk keperluan participation in tender offer.
tender.

Perjanjian ini juga mensyaratkan Perusahaan, These Agreements also require the Company,
antara lain untuk mempertahankan rasio among others, to maintain several financial
keuangan tertentu. Perjanjian kredit ini telah ratios. The credit agreement has been
diperpanjang sampai dengan tanggal extended until September 30, 2025.
30 September 2025.

l. Pada tanggal 15 Agustus 2022, Perusahaan l. On August 15, 2022, the Company signed
menandatangani perjanjian pinjaman dengan several loan agreements with BNI.
BNI. Pada 11 Agustus 2023, Perusahaan dan On August 11, 2023, the Company signed
BNI melakukan perubahan atas Perjanjian amendment of Loan Agreement with BNI,
Kredit, dimana BNI setuju untuk menyediakan where BNI agreed to provide the following
fasilitas kredit berupa: credit facilities:

i) Fasilitas non-kas sebesar US$200.000.000 i) Non-cash loan facilities at

dengan berbagai fasilitas untuk L/C, US$200,000,000 with various facilities for
SKBDN, Bank Garansi, Trust Receipt; L/C, SKBDN, Bank Guarantee and Trust
Receipt;
ii) Fasilitas Limit Negosiasi Wesel Ekspor ii) Limit Negosiasi Wesel Export (“LNWE”)
(“LNWE”) sebesar US$25.000.000; dan facility at US$25,000,000; and
iii) Fasilitas Treasury Line sebesar iii) Treasury Line Facility at US$5,000,000.
US$5.000.000.

Perjanjian ini juga mensyaratkan Perusahaan, These loan agreements also require the
antara lain untuk mempertahankan rasio Company, among others, to maintain several
keuangan tertentu. Perjanjian kredit ini berlaku financial ratios. These loan agreements are
sampai dengan tanggal 14 Agustus 2025. valid until August 14, 2025.

126

Annual Report 2024 407

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

34. PERJANJIAN PENTING, IKATAN, DAN 34. SIGNIFICANT AGREEMENTS, COMMITMENTS,

LIABILITAS KONTINJENSI (lanjutan) AND CONTINGENT LIABILITY (continued)

Perusahaan (lanjutan) The Company (continued)

m. Pada tanggal 15 Desember 2022, Perusahaan m. On December 15, 2022, the Company signed
menandatangani perjanjian pinjaman dengan loan agreements with PT Bank Mizuho
PT Bank Mizuho Indonesia (Mizuho) dan Indonesia (Mizuho) and on April 30, 2024 the
tanggal 30 April 2024 Perusahaan melakukan Company signed an addendum to the
tandatangan addendum Perjanjian terkait Agreement relating to the increase limit for the
dengan penambahan limit untuk fasilitas Import Import L/C facility from US$50,000,000 to
L/C dari US$50.000.000 menjadi US$100,000,000, whereby the credit facilitiy
US$100.000.000 sehingga fasilitas kredit becomes:
menjadi:
i) Fasilitas Import L/C/Acceptance/Trust i) Import L/C/Acceptance/ Trust
Receipt/Export L/C, Bank Garansi, Receipt/Export L/C, Bank Guarantee,
Revolving Loan sebesar US$100.000.000; Revolving Loan Facilities at
US$100,000,000;
ii) Fasilitas Forex Line sebesar ii) Forex Line facility at US$10,000,000.
US$10.000.000.

Perjanjian ini juga mensyaratkan Perusahaan, These loan agreements also require the
antara lain untuk mempertahankan rasio Company, among others, to maintain several
keuangan tertentu. Perjanjian kredit ini berlaku financial ratios. These loan agreements are
sampai dengan tanggal 15 Desember 2025. valid until December 15, 2025.

n. Pada tanggal 28 Maret 2014, Perusahaan n. On March 28, 2014, the Company signed
menandatangani perjanjian pinjaman dengan several loan agreements with Danamon,
Danamon, dimana Danamon setuju untuk whereby Danamon agreed to provide credit
menyediakan fasilitas kredit kepada facilities to the Company. These facilities are
Perusahaan. Fasilitas tersebut digunakan untuk intended for purchase of petroleum and
pembelian produk bahan bakar minyak (“BBM”) chemical products, hedging, tender projects
dan bahan kimia, transaksi lindung nilai and available for a year from the signing date.
(hedging), keperluan tender proyek dan tersedia
untuk jangka waktu satu tahun dari tanggal
penandatanganan perjanjian.

Perjanjian fasilitas pinjaman telah diubah dari The facility agreements have been amended
waktu ke waktu dimana perubahan terakhir pada from time to time whereby the latest
bulan September 2024 yang memberikan amendments were made in September 2024
fasilitas sebagai berikut: providing the following credit lines:
i) Fasilitas yang bersifat tanpa komitmen i) Uncommitted and revolving loan at
(uncommitted) dan berulang (revolving) US$120,000,000 with various sub-limit for
sebesar US$120.000.000 dengan beberapa LC/SKBDN, Trust Receipt (“T/R”), Open
sub-limit untuk LC/SKBDN, Trust Receipt Account Financing (“OAF”), Bank
(“T/R”), Open Account Financing (“OAF”), Guarantee/Standby Letter of Credit
Bank Garansi/Standby Letter of Credit (“SBLC”) and Trade Supplier Financing
(“SBLC”) dan Trade Supplier Financing (“TSF”);
(“TSF”);
ii) Fasilitas transaksi lindung nilai (hedging) ii) Hedging FX facility with Pre-Settlement
dengan Pre-Settlement Exposure (“PSE”) Exposure (“PSE”) at US$10,000,000.
sebesar US$10.000.000.

Perjanjian ini juga mensyaratkan Perusahaan The agreement also requires the Company to
untuk mempertahankan rasio keuangan tertentu. maintain several financial ratios. These
Fasilitas ini telah diperpanjang sampai dengan facilities have been extended until May 28,
tanggal 28 Mei 2025. 2025.
127

408 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

34. PERJANJIAN PENTING, IKATAN, DAN 34. SIGNIFICANT AGREEMENTS, COMMITMENTS,

LIABILITAS KONTINJENSI (lanjutan) AND CONTINGENT LIABILITY (continued)

Perusahaan (lanjutan) The Company (continued)

o. Melalui Surat Keterbukaan Informasi kepada o. Through its Disclosure of Information Letter to
OJK dan BEI No. 066/L-AKR-CS/2023 tanggal OJK and IDX No. 066/L-AKR-CS/2023 dated
31 Agustus 2023, Perusahaan melaporkan August 31, 2023, the Company reported that
bahwa pada tanggal 28 Agustus 2023 telah on August 28, 2023, it has signed Letter of
menandatangani Letter of Intent dengan Sichuan Intent with Sichuan Hebang Biotechnology
Hebang Biotechnology Co., Ltd. (“Hebang”), Co., Ltd. (“Hebang”), which both parties,
kedua belah pihak sepakat untuk mendirikan among others, agreed to establish a joint
perusahaan patungan di JIIPE, dengan venture in JIIPE, with ownership interest of
kepemilikan saham Hebang dan Hebang and the Company/any affiliates
Perusahaan/affiliasi yang ditunjuk, masing- designated, of 90% and 10%, respectively.
masing sebesar 90% dan 10%. Letter The Letter of Intent is signed parallelly with the
of Intent ditandatangani bersamaan dengan sign-off a Conditional Sales and Purchase
penandatangan Perjanjian Pengikatan Jual Beli Binding Agreement between Hebang and
Bersyarat antara Hebang dan BKMS atas lahan BKMS of industrial land in JIIPE approximate
di JIIPE sekitar 67 hektar untuk pembangunan 67 hectares for a chemical related plant with a
pabrik yang berkaitan dengan bahan kimia total estimated investment value of US$800
dengan perkiraan total nilai investasi sebesar million.
US$800 juta.

p. Pada tanggal 20 Juni 2024, Perusahaan p. On June 20, 2024, the Company signed loan
menandatangani perjanjian pinjaman dengan agreements with PT Bank CIMB Niaga Tbk
PT Bank CIMB Niaga Tbk (“CIMB”), dimana (“CIMB”), whereby CIMB agreed to provide
CIMB setuju untuk menyediakan fasilitas kredit credit facilities:
berupa:
i) Fasilitas Pinjaman Transaksi Khusus Trade i) Special Transaction of Trade
Account Payable, yang terdiri dari Account Payable, consisting of
SKBDN/LC dan Trust Receipt dengan total SKBDN/LC and Trust Receipt Facilities
limit sebesar US$75.000.000; with total limit at US$75,000,000;
ii) Fasilitas Forex Line dengan Pre Settlement ii) Forex Line facility with Pre Settlement
limit sebesar US$5.000.000. limit at US$5,000,000.

Perjanjian ini juga mensyaratkan Perusahaan The agreement also requires the Company to
untuk mempertahankan rasio keuangan tertentu. maintain several financial ratios. These
Fasilitas ini telah diperpanjang sampai dengan facilities have been extended until
tanggal 20 Juni 2026. June 20, 2026.

q. Pada bulan Oktober 2024, Perusahaan q. On October 2024, the Company signed loan
menandatangani perjanjian pinjaman dengan agreements with PT Bank HSBC Indonesia
PT Bank HSBC Indonesia (“HSBC”), dimana (“HSBC”), whereby HSBC agreed to provide
HSBC setuju untuk menyediakan fasilitas kredit credit facilities:
berupa:
i) Fasilitas SKBDN/LC, Trust Receipt, Import i) SKBDN/LC, Trust Receipt & Import Loan
Loan dengan total limit sebesar Facilities with total limit at US$32,000,000;
US$32.000.000;
ii) Fasilitas Forex Line dengan LER sebesar ii) Forex Line facility with LER limit at
US$500.000 US$500,000.

128

Annual Report 2024 409

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

34. PERJANJIAN PENTING, IKATAN, DAN 34. SIGNIFICANT AGREEMENTS, COMMITMENTS,

LIABILITAS KONTINJENSI (lanjutan) AND CONTINGENT LIABILITY (continued)

Entitas anak Subsidiaries

Aruki Aruki

a. Aruki memiliki perjanjian dengan Mitsui a. Aruki has agreement with Mitsui Chemicals
Chemicals Inc. (“MCI”), Jepang, dimana MCI Inc. (“MCI”), Japan, whereby MCI granted
memberikan Aruki hak untuk menggunakan Aruki to use the technical know how to
pengetahuan teknis dalam memproduksi kimia produce its adhesive chemical products and to
perekat dan logo/merek dagang di Indonesia use the logo/trademark in Indonesia free of
tanpa dibebani biaya. Perjanjian ini berlaku charge. The agreement shall remain in force
tanpa waktu terbatas selama Perusahaan tetap for an unlimited period as long as the
merupakan pemegang saham pengendali atas Company remains as the controlling
Aruki. shareholder of Aruki.

b. Pada tanggal 4 Mei 2018, Aruki menandatangani b. On May 4, 2018, Aruki signed a credit
perjanjian kredit dengan BCA, dimana BCA agreement with BCA, whereby BCA agreed to
setuju untuk menyediakan fasilitas kredit non- provide of non-cash credit facilities
kas dengan jumlah tidak melebihi ekuivalen with amount not exceeding equivalent
US$3.000.000 dengan beberapa sub-limit untuk US$3,000,000 with various sub-limit of
Usance L/C, Sight L/C dan SKBDN. Fasilitas Usance L/C, Sight L/C and SKBDN. These
tersebut digunakan untuk pembelian bahan facilities are intended for the purchase of raw
baku, suku cadang/mesin. Pada bulan Agustus materials, spare parts/machines. In August
2020, fasilitas kredit diperpanjang dengan 2020, there is an additional facility - forex line
tambahan fasilitas forex line sebesar amounting to US$2,000,000 with contract
US$2.000.000 untuk kontrak forward sampai forward up to 2 months. Those facilities are
dengan 2 bulan. Fasilitas tersebut tersedia available until May 4, 2025.
sampai dengan tanggal 4 Mei 2025.
Perjanjian ini mensyaratkan Aruki untuk The agreement requires Aruki to maintain
mempertahankan rasio keuangan tertentu. certain financial ratios.

c. Aruki memiliki fasilitas pinjaman dari PT Bank c. Aruki obtained loan facilities from PT Bank
Mizuho Indonesia dengan total limit Mizuho Indonesia with total limit amounting to
US$2.000.000 yang mencakup (i) fasilitas US$2,000,000 with comprising of
pinjaman berulang tanpa komitmen, (ii) fasilitas (i) uncommitted revolving loan facility,
surat kredit berdokumen berulang dan (ii) revolving letter of credit facility, and
(iii) fasilitas forex line. Fasilitas ini telah (iii) forex line facility. This facility has been
diperpanjang sampai dengan tanggal extended until September 9, 2025.
9 September 2025.
Perjanjian pinjaman mengharuskan pemenuhan The loan agreement contains several loan
beberapa persyaratan oleh Aruki, antara lain, covenants whereby it requires Aruki, among
untuk mempertahankan sejumlah rasio others, to maintain certain financial ratios, not
keuangan, tidak mengubah komposisi to change the shareholders’ composition and
pemegang saham dan tidak menjaminkan atau not to pledge or sell the shares.
menjual sahamnya.

JTT JTT
JTT mempunyai perjanjian sewa tanah jangka JTT has a long-term land lease agreement with
panjang dengan Pelindo, termasuk sewa jalur pipa Pelindo, including lease of underwater ways for
bawah laut sampai dengan tahun 2034 di Tanjung pipelines until 2034 in Tanjung Priok, Jakarta. The
Priok, Jakarta. Saldo hak pakai tanah yang belum balance of unamortized land lease rights of
diamortisasi adalah Rp67.820.275 pada tanggal Rp67,820,275 as of December 31, 2024 (2023:
31 Desember 2024 (2023: Rp71.571.976) disajikan Rp71,571,976) is recorded as part of “Right-of-use
sebagai bagian dari “Aset hak-guna” (Catatan 11). assets” (Note 11).

129

410 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

34. PERJANJIAN PENTING, IKATAN, DAN 34. SIGNIFICANT AGREEMENTS, COMMITMENTS,

LIABILITAS KONTINJENSI (lanjutan) AND CONTINGENT LIABILITY (continued)
Entitas anak (lanjutan) Subsidiaries (continued)

BKMS BKMS

a. Sehubungan dengan konstruksi proyek JIIPE a. In relation to the construction of JIIPE project
sebagaimana diungkapkan dalam Catatan 13 as disclosed in Note 13 and other relevant
dan catatan lainnya atas laporan keuangan notes to the consolidated financial statements,
konsolidasian yang relevan, pada tanggal as of December 31, 2024, BKMS has
31 Desember 2024, BKMS telah signed/awarded contracts with/to various
menandatangani/meng-award kontrak dengan/ contractors and vendors as follows:
kepada berbagai kontraktor dan penyedia jasa
dengan rincian sebagai berikut:
31 Desember 2024/ 31 Desember 2023/
December 31, 2024 December 31, 2023

Pembayaran Nilai Pembayaran Nilai

Uang Muka/ Komitmen/ Uang Muka/ Komitmen/
Nilai Kontrak/ Advance Commitment Nilai Kontrak/ Advance Commitment
Contract Value Payment Value Contract Value Payment Value

Rupiah 436.652.196 215.476.739 221.175.457 228.948.093 77.250.955 151.697.138 Rupiah

Uang muka yang dibayarkan dicatat sebagai The downpayment made is recorded as part of
bagian dari akun Uang Muka atau Persediaan Advanced Payments or Industrial Estate Land
Tanah Kawasan Industri dalam dan untuk Inventory under and for Development or
Pengembangan atau Aset Tetap, tergantung dari Property, Plant, and Equipment, depending on
sifat pembayaran yang dilakukan, dalam laporan the nature of payment, in the consolidated
posisi keuangan konsolidasian pada tanggal statement of financial position at the reporting
pelaporan. Jenis pekerjaan yang dicakup antara date. The type of work covered in the
lain adalah persiapan pembangunan jalan akses contracts, among others, preparing temporary
sementara, pekerjaan pelindungan pantai di access road, seashore protection works in
beberapa area dari kawasan industri, pekerjaan certain parts of industrial estate location, land
reklamasi tanah, pasokan pasir, instalasi pipa reclamation work, supply of sand, pipe line
angkut dan lainnya. installation, etc.

b. BKMS juga menandatangani perjanjian dengan b. BKMS also entered into agreements with
beberapa Notaris dan Pejabat Pembuat Akta several Notaries and Land Deed Officers
Tanah (“PPAT”) Kabupaten Gresik untuk (“PPAT”) resided at Gresik Regency in
penyediaan jasa pembuatan akta jual beli dan providing services for certification of Notarial
pengurusan sertifikat Hak Guna Bangunan of Sale and Purchase Agreements and
(“HGB”). Certificates of Building Rights Title (“HGB”).

130

Annual Report 2024 411

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

34. PERJANJIAN PENTING, IKATAN, DAN 34. SIGNIFICANT AGREEMENTS, COMMITMENTS,

LIABILITAS KONTINJENSI (lanjutan) AND CONTINGENT LIABILITY (continued)

Entitas anak (lanjutan) Subsidiaries (continued)

BKMS (lanjutan) BKMS (continued)

c. BKMS dan PT Berkah Tiga Usaha (“BTU”) c. BKMS and PT Berkah Tiga Usaha (“BTU”) had
memiliki permasalahan hukum terkait perjanjian legal issues related to the sand transportation
pekerjaan angkutan pasir dan normalisasi tanah and soil normalization work agreement at
di JIIPE, Gresik tanggal 19 Oktober 2015, yang JIIPE, Gresik dated October 19, 2015, which
kemudian diubah pada tanggal 1 Desember 2015, was later amended on December 1, 2015,
di mana atas kerja sama tersebut, BTU telah where for the cooperation, BTU had provided
memberikan bank garansi (jaminan uang muka a bank guarantee (down payment guarantee
dan jaminan pelaksanaan) kepada BKMS and implementation guarantee) to BKMS
sebesar Rp30.000.000 dan Rp7.500.000 yang amounting to Rp30,000,000 and Rp7,500,000
dikeluarkan oleh PT Bank Syariah Bukopin (saat issued by PT Bank Syariah Bukopin (currently
ini bernama PT Bank KB Bukopin Syariah named PT Bank KB Bukopin Syariah
(“Bukopin”)). Setelah mendapatkan putusan (“Bukopin”)). After obtaining a final and binding
berkekuatan hukum tetap atas permasalahan decision on the legal issues between BKMS
hukum antara BKMS dan BTU, Bukopin telah and BTU, Bukopin has disbursed the bank
mencairkan bank garansi (jaminan uang muka guarantee (down payment guarantee and
dan jaminan pelaksanaan) sebesar implementation guarantee) amounting to
Rp37.500.000 kepada BKMS pada tanggal 11 Juli Rp37,500,000 to BKMS on July 11, 2024.
2024.

d. Pada tanggal 8 Desember 2020, BKMS d. On December 8, 2020, BKMS obtained an

memperoleh fasilitas pembiayaan IMBT dari IMBT financing facility from Permata with
Permata dengan jumlah maksimum sebesar maximum amount of Rp162,000,000 with
Rp162.000.000 dengan jangka waktu credit term of 6 years to refinance its existing
pembiayaan selama 6 tahun untuk pembiayaan syndication loan.
kembali pinjaman sindikasi yang ada.
Transaksi pembiayaan kembali ini mengadopsi This refinancing transaction adopted the
prinsip Akuntansi Syariah “Ijarah” sesuai dengan Islamic Shariah Accounting “Ijarah” principle in
PSAK 107 dimana BKMS seolah-olah accordance with PSAK 107 whereby BKMS as
mengalihkan 6-tahun-manfaat PLTMG sebagai if transferred the 6-year-benefits of its PLTMG
aset jaminan (“objek ijarah untuk sewa”) kepada as the collateralized asset (“ijarah object for
Permata, dan kemudian BKMS akan menyewa lease”) to Permata, which then BKMS lease
kembali PLTMG tersebut selama masa berlaku back the PLTMG over the tenor of the facility.
fasilitas. Pada akhir masa pinjaman, Permata At the end of the tenor, Permata shall transfer
harus mengalihkan kembali objek sewa ke BKMS back the lease object to BKMS using the “akad
dengan menggunakan akad hibah tanpa biaya. hibah” at no cost. The difference between the
Perbedaan antara nilai manfaat 6-tahun dan nilai cost of the 6-year-benefits and the facility
fasilitas pinjaman yang diterima diakui sebagai amount received is recognized as gain on the
laba atas pengalihan objek “ijarah” untuk sewa transferred of a “ijarah” object for lease
sebesar Rp61.312.010. Pembayaran cicilan dari amounting to Rp61,312,010. The payment of
fasilitas pinjaman harus dicatat sebagai biaya the installment of the loan facility shall be
sewa. recorded as lease expense.
Pinjaman ini dijamin dengan tanah dan bangunan This loan is secured by the land and building
proyek PLTMG seluas 1,6 hektar berikut of the PLTMG project covering an area of
bangunan infrastruktur, mesin-mesin serta 1.6 hectares along with the building
peralatan yang melekat di atasnya yang terletak infrastructure, machineries and equipment
di Gresik, Jawa Timur, dan seluruh hasil klaim attached to it which is located in Gresik, East
atas asuransi sehubungan dengan proyek Java, and all of the insurance claims related to
PLTMG. the PLTMG project.
BKMS juga diwajibkan untuk mempertahankan BKMS also required to maintain certain
rasio keuangan tertentu. financial ratios.
131

412 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

34. PERJANJIAN PENTING, IKATAN, DAN 34. SIGNIFICANT AGREEMENTS, COMMITMENTS,

LIABILITAS KONTINJENSI (lanjutan) AND CONTINGENT LIABILITY (continued)

Entitas anak (lanjutan) Subsidiaries (continued)

BKMS (lanjutan) BKMS (continued)

e. Pada tanggal 31 Desember 2024, BKMS e. As of December 31, 2024, BKMS has
memiliki kontrak forward dan fasilitas Bank outstanding forward contracts from Bank
Permata dengan nilai nominal sebesar Permata with a notional value of US$32,452,000
US$32.452.000 dan nilai wajar sebesar and with the fair value of Rp6,690,964 is
Rp6.690.964 disajikan pada akun hutang lain- presented as other payable in the consolidated
lain pada laporan posisi keuangan statement of financial position.
konsolidasian.

f. Pada bulan September 2023, BKMS dan anchor f. On September 2023, BKMS and an anchor
tenant menandatangani Perjanjian Serah Terima tenant have signed a Handover Agreement for
untuk sistem kabel listrik dan infrastrukturnya, electrical cabling system and its infrastructures,
dimana BKMS membeli aset tersebut dengan whereby BKMS purchased such asset at the
jumlah yang disepakati sebesar Rp293 juta. agreed amount of Rp293 million. Both parties
Kedua belah pihak setuju untuk melanjutkannya have agreed to proceed with a formal
dengan Perjanjian Penjualan/Penyerahan Sales/Transfer Agreement and with the
secara formal dan dengan perjanjian sewa tanah additional land lease agreement related to the
tambahan terkait dengan infrastruktur tersebut. infrastructures. The related assets have been
Aset terkait telah dicatat sebagai bagian dari recorded as part of Property, Plant and
Aset Tetap pada tahun 2023 (Catatan 10). Equipment in 2023 (Note 10).

TNU TNU

a. TNU, entitas anak Andahanesa, mempunyai a. TNU, a subsidiary of Andahanesa, has a long-
perjanjian sewa tanah jangka panjang dengan term land lease agreement with BJTI until 2034
BJTI sampai dengan tahun 2034 di Pelabuhan in Port of Tanjung Perak, Surabaya. The balance
Tanjung Perak, Surabaya. Saldo hak pakai tanah of unamortized land lease rights of
yang belum diamortisasi adalah Rp14.973.117 Rp14,973,117 as of December 31, 2024 (2023:
pada tanggal 31 Desember 2024 (2023: Rp14,136,272), which is presented as part of
Rp14.136.272), yang disajikan sebagai bagian “Right-of-use assets” (Note 11).
dari “Aset hak-guna” (Catatan 11).

b. Pada tahun 2018, TNU, entitas anak tidak b. In 2018, TNU, an indirect subsidiary of the
langsung Perusahaan, menerima klaim dari pihak Company, received a claim from a third party
ketiga dalam hubungannya dengan pertinent to its asset construction. The claim is in
pembangunan asetnya. Klaim ini sedang dalam the process to be settled by the parties through
proses penyelesaian oleh kedua belah pihak a mediation process at reporting date.
melalui proses mediasi pada tanggal pelaporan.

132

Annual Report 2024 413

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

34. PERJANJIAN PENTING, IKATAN, DAN 34. SIGNIFICANT AGREEMENTS, COMMITMENTS,

LIABILITAS KONTINJENSI (lanjutan) AND CONTINGENT LIABILITY (continued)

Entitas anak (lanjutan) Subsidiaries (continued)

Anugrah Anugrah

Pada bulan Juli 2011, dan beserta perubahan On July 2011, and further as amended, Anugrah
berikutnya, Anugrah menandatangani perjanjian signed a capital investment agreement with two
investasi modal dengan dua pemegang saham individual shareholders of PT Jabal Nor (“Jabal Nor”)
individual PT Jabal Nor (“Jabal Nor”) untuk to acquire a total of 59.40% ownership interest in
mengakuisisi keseluruhan 59,40% kepemilikan saham Jabal Nor at Rp176,000,000 to be achieved in
di Jabal Nor sebesar Rp176.000.000 yang akan certain stages upon the completion of certain
dicapai dalam beberapa tahapan sesuai dengan requirements as stipulated in the agreement by all
pencapaian ketentuan-ketentuan tertentu dalam parties. As of December 31, 2016, Anugrah has not
perjanjian oleh semua pihak. Pada tanggal reached the total targeted ownership percentage up
31 Desember 2016, Anugrah belum mencapai target and therefore, the total cash contribution made
persentase kepemilikan, sehingga jumlah setoran reflecting a 42.94% ownership interest in Jabal Nor,
tunai yang telah dilakukan yang mencerminkan is treated as investment in an associate.
42,94% kepemilikan di Jabal Nor, diperlakukan
sebagai investasi pada entitas asosiasi.

Berdasarkan Akta Notaris Jose Dima Satria, S.H., Based on the Notarial Deed of Jose Dima Satria,
M.Kn., No. 27 tanggal 9 Maret 2017, Anugrah, entitas S.H., M.Kn., No. 27 dated March 9, 2017, Anugrah,
anak Perusahaan, selaku pemegang 42,94% saham a subsidiary of the Company, as the holder of
Jabal Nor, telah menandatangani akta Pengalihan 42.94% shares in Jabal Nor, has signed the deed of
Saham atas seluruh kepemilikan saham Anugrah atas transfer Anugrah whole shares ownership in Jabal
Jabal Nor. Transaksi pengalihan saham tersebut Nor. The transaction from the share transfer is
dicatat di dalam akun “Aset keuangan tidak lancar recorded under “Other non-current financial assets”.
lainnya”.

Berdasarkan ikatan perjanjian tanggal 29 Juli 2020, Based on the commitment agreement on July 29,
pemegang saham individual telah sepakat untuk 2020, individual shareholders agreed to settle the
menyelesaikan kewajibannya dengan pengalihan aset transaction by transferring assets in the form of
berupa tanah kepada Anugrah. lands to Anugrah.

AKRIDA AKRIDA

Pada tanggal 15 November 2016, AKRIDA dan BP On November 15, 2016, AKRIDA and BP Global
Global Investments Limited menandatangani Investments Limited signed a Heads of Agreement
Perjanjian Pendahuluan (Heads of Agreement) untuk for Retail Joint Venture in London. The purpose and
usaha Joint Venture Ritel di London. Maksud dan objective of entering into the Heads of Agreement is
tujuan dari Perjanjian Pendahuluan ini adalah untuk to explore the creation of a joint venture to establish
mengeksplorasi pendirian usaha joint venture dalam and grow retail fuel network to supply premium
rangka membangun dan mengembangkan jaringan quality fuels and provide differentiated offer to the
ritel BBM untuk memasok BBM berkualitas premium Indonesia customers. The Company has made the
dan memberikan tawaran yang berbeda Disclosure of Information in its Letter
untuk konsumen Indonesia. Perusahaan telah No. 112/L-AKR-CS/2016 dated November 16, 2016
melakukan Keterbukaan Informasi melalui Surat to OJK and IDX (Note 1b).
No. 112/L-AKR-CS/2016 tanggal 16 November 2016
ke OJK dan BEI (Catatan 1b).

133

414 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

34. PERJANJIAN PENTING, IKATAN, DAN 34. SIGNIFICANT AGREEMENTS, COMMITMENTS,

LIABILITAS KONTINJENSI (lanjutan) AND CONTINGENT LIABILITY (continued)

Entitas anak (lanjutan) Subsidiaries (continued)

AKRIDA (lanjutan) AKRIDA (continued)

Pada tanggal yang sama, kedua pihak di atas juga At the same date, both parties also signed a Joint
menandatangani Perjanjian Usaha Patungan di bidang Venture Agreement related to Aviation Fuels
bahan bakar penerbangan di London. Maksud dan business in London. The purpose and objective of
tujuan dari Perjanjian ini adalah untuk mendukung entering into the Agreement is to support the
pengembangan industri penerbangan dan development of the growth of the Indonesian
memberikan kontribusi pada pertumbuhan ekonomi economy by investing in infrastructure, applying the
Indonesia dengan berinvestasi di bidang infrastruktur, latest innovative technology and operational best
menerapkan teknologi inovatif terkini, serta penerapan practices for the supply of aviation fuel. The
sistem operasional terbaik untuk pasokan Company has made the Disclosure of Information in
bahan bakar penerbangan. Perusahaan telah its Letter No. 111/L-AKR-CS/2016 dated
melakukan Keterbukaan Informasi melalui Surat November 16, 2016 to OJK and IDX (Note 1b).
No. 111/L-AKR-CS/2016 tanggal 16 November 2016
ke OJK dan BEI (Catatan 1b).

APR APR
a. APR, entitas anak AKRIDA, mempunyai a. APR, a subsidiary of AKRIDA, has a long-term
perjanjian sewa tanah jangka panjang sampai land lease agreement until 2038 in Jakarta and
dengan tahun 2038 di Jakarta dan Surabaya. Surabaya. The balance of unmortized land
Saldo hak pakai tanah yang belum diamortisasi lease rights of Rp201,167,388 as of
adalah Rp201.167.388 pada tanggal December 31, 2024 (2023: Rp133,610,173)
31 Desember 2024 (2023: Rp133.610.173) yang which is presented as part of “Right-of-use
disajikan sebagai bagian dari “Aset hak-guna” assets” (Note 11).
(Catatan 11).

b. Pada tanggal 4 November 2024, APR b. On November 4, 2024, APR signed 6th (Sixth)
menandatangani Perubahan Ke-6 (Keenam) Amendment and Restatement to the Credit
terhadap Perjanjian Kredit No. 064/CB/JKT/2018 Agreement No. 064/CB/JKT/2018 dated
tanggal 30 November 2018 dengan PT Bank November 30, 2018 with PT Bank CIMB Niaga
CIMB Niaga Tbk (“CIMB”) untuk memperpanjang Tbk (“CIMB”) to extend the credit facility
jangka waktu fasilitas kredit hingga 31 Oktober availability period up to October 31, 2025.
2025. CIMB setuju untuk menyediakan fasilitas CIMB agreed to provide credit facilities to APR
kredit kepada APR dalam rangka pembelian for purchase of products, hedging
produk, transaksi lindung nilai, dan keperluan transactions, and tender projects.
tender proyek.

Perjanjian fasilitas pinjaman memberikan fasilitas The facility agreements are providing the
sebagai berikut: following credit lines:
i) Fasilitas Credit Commercial Lines: Fasilitas i) Credit Commercial Lines Facility: Letter of
Letter of Credit (“L/C”) dan/atau Surat Kredit Credit (“L/C”) Facility and/or Surat Kredit
Berdokumen Dalam Negeri (“SKBDN”) Berdokumen Dalam Negeri (“SKBDN”)
sebesar US$13.000.000 (“Fasilitas CC amounting to US$13,000,000 (“CC Lines
Lines”) yang bersifat interchangeable atau Facility”) which is interchangeable with or
dapat dipergunakan secara bersama-sama can be used in conjunction with;
dengan;
ii) Fasilitas Bank Garansi dengan ketentuan ii) Bank Guarantee Facility with the
jumlah total penggunaan Fasilitas CC Lines provisions of total amount CC Lines
tidak diperkenankan lebih dari Facility, no more than US$13,000,000
US$13.000.000 (“Fasilitas BG/SBLC”); (“BG/SBLC Facility”);

134

Annual Report 2024 415

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

34. PERJANJIAN PENTING, IKATAN, DAN 34. SIGNIFICANT AGREEMENTS, COMMITMENTS,

LIABILITAS KONTINJENSI (lanjutan) AND CONTINGENT LIABILITY (continued)

Entitas anak (lanjutan) Subsidiaries (continued)

APR (lanjutan) APR (continued)

Perjanjian fasilitas pinjaman memberikan fasilitas The facility agreements are providing the
sebagai berikut: (lanjutan) following credit lines: (continued)
iii) Perjanjian Jual Beli Valuta Asing dengan iii) Foreign Exchange Agreement with
Pre-Settlement Limit secara keseluruhan Pre-Settlement Limit as a whole not
tidak melebihi ekuivalen US$5.000.000. exceeding the equivalent US$5,000,000.

Pada tanggal 31 Desember 2024, Perusahaan As of December 31, 2024, the Company has
memiliki open Bank Garansi sebesar open Bank Guarantee amounting to
Rp101.055.000 dan open Letter of Credit Rp101,055,000 and open Letter of Credit
sebesar US$7.313.653,69. amounting to US$7,313,653.69.

c. Pada tanggal 15 November 2023, APR c. On November 15, 2023, APR

menandatangani Perubahan atas Surat Fasilitas signed Amendment of Facility Letter
No. JKT/FF1/5859 yang merujuk kepada Surat No. JKT/FF1/5859 refer to the Facility Letter
Fasilitas (Tanpa Ikatan) No. JKT/FA1/5741 (Uncommitted) No. JKT/FA1/5741 dated
tanggal 6 Maret 2023 untuk memperpanjang March 6, 2023, to extend the credit facility
jangka waktu fasilitas kredit dari Standard availability period from Standard Chartered
Chatered Bank hingga 31 Oktober 2025. Bank up to October 31, 2025.

Jenis-jenis fasilitas sebagai berikut: Types of facilities are as follows:

i) L/C Impor - tidak dijamin, i) Import L/C - unsecured,
ii) L/C Impor - dijamin, dan ii) Import L/C - secured, and
iii) Obligasi dan Jaminan. iii) Bond and Guarantees.

Dengan limit sebesar US$25.000.000, untuk With limit facility amounting to US$25,000,000
ketiga fasilitas tersebut. Pada tanggal for those facilities. As of December 31, 2024,
31 Desember 2024, Perusahaan memiliki open the Company has open Bank Guarantee
Bank Garansi sebesar Rp35.176.365 dan open amounting to Rp35,176,365 and open Letter of
Letter of Credit sebesar US$3.079.528. Credit amounting to US$3,079,528.

DPR DPR

Pada tanggal 23 Januari 2020, DPR menandatangani On January 23, 2020, DPR signed a loan
perjanjian pinjaman dengan Standard Chartered agreement with Standard Chartered Bank -
Bank - Cabang Indonesia (“SCB”), dimana SCB Indonesia Branch (“SCB”), whereby SCB agreed to
setuju untuk menyediakan (i) Fasilitas L/C Impor provide (i) L/C Import unsecured facility
unsecured US$2.000.000; (ii) Fasilitas L/C Impor US$2,000,000; (ii) L/C Import secured facility
secured US$2.000.000; (iii) Obligasi dan Bank US$2,000,000; (iii) Bonds and Guarantees
Garansi US$200.000, dengan total gabungan batas US$200,000, with total combined facilities limit of
fasilitas sejumlah US$2.000.000. US$2,000,000.

Fasilitas ini digunakan untuk penerbitan L/C impor These facilities are intended for issuance of L/C
barang dan untuk penerbitan jaminan (bid bond, covering the import of goods and issuance of
advance payment bond dan performance bond). guarantees (bid bond, advance payment bond and
Fasilitas ini telah diperpanjang otomatis. performance bond). The facilities have been
automatically extended.

135

416 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

34. PERJANJIAN PENTING, IKATAN, DAN 34. SIGNIFICANT AGREEMENTS, COMMITMENTS,

LIABILITAS KONTINJENSI (lanjutan) AND CONTINGENT LIABILITY (continued)

Entitas anak (lanjutan) Subsidiaries (continued)

AKI AKI

Pada bulan Desember 2023, AKI menandatangani On December 2023, AKI signed extension of loan
perjanjian perpanjangan pinjaman dengan Permata, agreements with Permata, whereby Permata
dimana Permata setuju untuk menyediakan dua agreed to provide two credit facilities to AKI. These
fasilitas kredit kepada AKI. Fasilitas tersebut facilities are intended for the purchase of chemical
digunakan untuk pembelian produk bahan kimia dan products and hedging transactions. The facilities
transaksi lindung nilai (hedging). Fasilitas ini tersedia are available for a period date until October 7,
untuk jangka waktu sampai tanggal 7 Oktober 2025. 2025.

Fasilitas yang tersedia adalah sebagai berikut: The facilities available are as follows:

i) Uncommitted Omnibus Revolving Loan sebesar i) Uncommitted Omnibus Revolving Loan at

US$5.000.000 meliputi Revolving Loan dan US$5,000,000 covering Revolving Loan and
L/C/SKBDN; L/C/SKBDN;

ii) Fasilitas hedging FX sebesar US$500.000 ii) Hedging FX facility at US$500,000 with Loan
dengan Loan Equivalent Risk (“LER”) Spot Equivalent Risk (“LER”) Spot transaction at
transaction maksimal US$25.000.000. maximum of US$25,000,000.

Pada tanggal 31 Desember 2024, AKI memiliki As of December 31, 2024, AKI has outstanding
kontrak forward dari fasilitas FX dengan nilai nominal forward contracts from its FX facility with a nominal
sebesar US$3.005.574 dan dengan nilai wajar value of US$3,005,574 and with the fair value of
sebesar Rp334.187 disajikan pada akun hutang lain- Rp334,187 is presented as other payable in the
lain pada laporan posisi keuangan konsolidasian. consolidated statement of financial position.

AKPI AKPI

AKPI, entitas anak Andahanesa, mempunyai AKPI, a subsidiary of Andahanesa, has a long-term
perjanjian sewa tanah jangka panjang dengan BMS land lease agreement with BMS until 2043 in
sampai dengan tahun 2043 di Kawasan JIIPE, Kawasan JIIPE, Gresik, East Java. The balance of
Gresik, Jawa Timur. Saldo hak pakai tanah yang the unamortized land lease rights is Rp2,133,528
belum diamortisasi per 31 Desember 2024 adalah as of December 31, 2024 (2023: Rp2,142,823),
Rp2.133.528 (2023: Rp2.142.823) yang disajikan which is presented as part of “Right-of-use assets”
sebagai bagian dari ”Aset hak-guna” (Catatan 11.) (Note 11).

BBE BBE
Pada tanggal 11 November 2024, BBE On November 11, 2024, BBE signed loan
menandatangani perjanjian pinjaman dengan BNI, agreements with BNI, whereby BNI agreed to
dimana BNI setuju untuk menyediakan fasilitas kredit provide four credit facilities to BBE as follow:
kepada BBE berupa:

i) Fasilitas Kredit Modal Kerja Terbatas maksimal i) Working Capital Loan facility maximum
sebesar Rp5.000.000; amount of Rp5,000,000;
ii) Fasilitas Kredit Investasi Refinancing maksimal ii) Investment Credit Refinancing facility
sebesar Rp51.000.000; maximum amount of Rp51,000,000;
iii) Fasilitas Standby L/C (“SBLC”) sebesar iii) Standby L/C (“SBLC”) facility at
US$7.600.000; US$7,600,000;
iv) Fasilitas Bank Garansi sebesar US$2.100.000. iv) Bank Guarantee facility at US$2,100,000.

Fasilitas ini tersedia untuk jangka waktu lima tahun The facility is available for five years from the
dari tanggal penandatanganan perjanjian yang signing date and will expire on November 10, 2029.
berakhir di 10 November 2029.
136

Annual Report 2024 417

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

35. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 35. FINANCIAL RISK MANAGEMENT OBJECTIVES
KEUANGAN AND POLICIES

Dalam aktivitas usahanya sehari-hari, Kelompok In their daily business activities, the Group is
Usaha dihadapkan pada berbagai risiko. Risiko exposed to risks. The main risks facing by the
utama yang dihadapi Kelompok Usaha yang timbul Group arising from its financial instruments are
dari instrumen keuangan adalah risiko kredit, risiko credit risk, market risk (i.e. interest rate risk, foreign
pasar (yaitu tingkat suku bunga, risiko nilai tukar mata exchange rate risk and commodity price risk) and
uang asing dan risiko harga komoditas) dan risiko liquidity risk. The core function of the Group’s risk
likuiditas. Fungsi utama dari manajemen risiko management is to identify all key risks for the
Kelompok Usaha adalah untuk mengidentifikasi Group, measure these risks and manage the risk
seluruh risiko kunci, mengukur risiko-risiko ini dan positions in accordance with its policies and group
mengelola posisi risiko sesuai dengan kebijakan dan risk appetite. The Group regularly reviews its risk
risk appetite Kelompok Usaha. Kelompok Usaha management policies and systems to reflect
secara rutin menelaah kebijakan dan sistem changes in markets, products and best market
manajemen risiko untuk menyesuaikan dengan practice.
perubahan di pasar, produk dan praktik pasar terbaik.

a. Risiko Kredit a. Credit Risk

Risiko kredit adalah risiko kerugian keuangan Credit risk is the risk of suffering financial loss,
yang timbul jika pelanggan Kelompok Usaha should any of the Group’s customers fail to
gagal memenuhi kewajiban kontraktualnya fulfill their contractual obligations to the Group.
kepada Kelompok Usaha. Risiko kredit terutama Credit risk arises mainly from trade
berasal dari piutang usaha dari pelanggan yang receivables from customers generated from
timbul dari aktivitas perdagangan dan distribusi, the Group’s trading and distribution activities,
penjualan produk dan sejumlah jasa terpadu product sales and various integrated services
kepada pelanggan seperti jasa penyimpanan to customers such as storage and handling of
dan penanganan barang dan lainnya. goods etc.

Maksimum risiko kredit yang dihadapi oleh The maximum Group’s exposure of the credit
Kelompok Usaha kurang lebih sebesar nilai risk approximates its net carrying amounts of
tercatat neto dari piutang usaha sebagaimana trade receivables as shown in Note 5a.
ditunjukkan dalam Catatan 5a. Manajemen Management believes that there are no
berpendapat bahwa tidak terdapat risiko yang significant concentrations of credit risk in the
terkonsentrasi secara signifikan atas piutang trade receivables.
usaha.

Risiko kredit pelanggan dikelola oleh masing- Customer credit risk is managed by each
masing unit usaha sesuai dengan kebijakan, business unit subject to the Group’s
prosedur dan pengendalian dari Kelompok established policy, procedures and control
Usaha yang berhubungan dengan pengelolaan relating to customer risk management. Credit
risiko kredit pelanggan. Batasan kredit limits are established for all customers based
ditentukan untuk semua pelanggan berdasarkan on internal rating criteria. Outstanding
kriteria penilaian secara internal. Saldo piutang customer receivables are regularly monitored
pelanggan dimonitor secara teratur oleh unit-unit by relevant business units.
usaha terkait.

137

418 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

35. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 35. FINANCIAL RISK MANAGEMENT OBJECTIVES
KEUANGAN (lanjutan) AND POLICIES (continued)

a. Risiko Kredit (lanjutan) a. Credit Risk (continued)

Sehubungan dengan risiko kredit yang timbul With respect to credit risk arising from the
dari aset keuangan lainnya yang terutama other financial assets, which mainly comprise
mencakup kas dan setara kas, risiko kredit yang of cash and cash equivalents, the Group’s
dihadapi timbul karena wanprestasi dari exposure to credit risk arises from the default
counterparty. Kelompok Usaha memiliki of counterparty. The Group has a policy to not
kebijakan untuk tidak menempatkan investasi place investments in instruments that have a
pada instrumen yang memiliki risiko kredit tinggi high credit risk and only puts the investments
dan hanya menempatkan investasinya pada in banks with high credit ratings. The
bank-bank dengan peringkat kredit yang tinggi. maximum exposure equals to the carrying
Nilai maksimal eksposur setara dengan nilai amounts as disclosed in Note 4.
tercatat sebagaimana ditunjukkan pada
Catatan 4.

b. Risiko Pasar b. Market Risk

Risiko pasar adalah risiko dimana nilai wajar dari Market risk is the risk that the fair value of
arus kas masa depan dari suatu instrumen future cash flows of a financial instrument will
keuangan akan berfluktuasi karena perubahan fluctuate because of changes in market prices.
harga pasar. Kelompok Usaha dipengaruhi oleh The Group is exposed to market risks, in
risiko pasar, terutama risiko tingkat suku bunga, particular, interest rate risk, foreign currency
risiko nilai tukar mata uang asing dan risiko harga exchange risk and commodity price risk.
komoditas.

Risiko tingkat suku bunga Interest rate risk

Risiko tingkat suku bunga adalah risiko dimana Interest rate risk is the risk that the fair value
nilai wajar atau arus kas masa depan dari suatu or future cash flows of a financial instrument
instrumen keuangan berfluktuasi karena will fluctuate because of changes in market
perubahan suku bunga pasar. Pengaruh dari interest rates. The Group’s exposure to the
risiko perubahan suku bunga pasar risk of changes in market interest rates relates
berhubungan dengan pinjaman jangka pendek primarily to the Group’s short-term and long-
dan panjang dari Kelompok Usaha yang term debt obligations with floating interest
dikenakan suku bunga mengambang. rates.

Kelompok Usaha memonitor secara ketat The Group closely monitors the market
fluktuasi suku bunga pasar dan ekspektasi pasar interest rate fluctuation and market
sehingga dapat mengambil langkah-langkah expectation, so it can take necessary actions
yang paling menguntungkan Kelompok Usaha benefited most to the Group in due time. The
secara tepat waktu. Manajemen tidak management currently does not consider the
menganggap perlunya melakukan swap suku necessity to enter into any interest rate swaps.
bunga pada saat ini.

138

Annual Report 2024 419

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

35. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 35. FINANCIAL RISK MANAGEMENT OBJECTIVES
KEUANGAN (lanjutan) AND POLICIES (continued)

b. Risiko Pasar (lanjutan) b. Market Risk (continued)

Risiko tingkat suku bunga (lanjutan) Interest rate risk (continued)

Tabel berikut menunjukkan sensitivitas atas The following table demonstrates the
perubahan yang wajar dari tingkat suku bunga sensitivity to a reasonably change in interest
atas saldo pinjaman yang dikenakan suku bunga rates on the floating interest loans at
mengambang pada tanggal 31 Desember 2024, December 31, 2024, with all other variables
dimana semua variabel lainnya dianggap held constant, to the consolidated profit
konstan, terhadap laba sebelum pajak before income tax for the year ended
penghasilan konsolidasian untuk tahun yang December 31, 2024:
berakhir pada tanggal 31 Desember 2024:

Kenaikan
(penurunan) Efek terhadap
dalam persentase/ laba sebelum
Increase pajak/
(decrease) Effect on income
in percentage before tax

Mata uang pinjaman Loan currency

Rupiah 0,5% (23.964.425) Rupiah
(0,5%) 23.964.425

Risiko nilai tukar mata uang asing Foreign exchange risk

Risiko mata uang asing adalah risiko dimana nilai Foreign currency risk is the risk that the fair
wajar atau arus kas masa mendatang dari suatu value or future cash flows of a financial
instrumen keuangan karena perubahan dari nilai instrument will fluctuate because of changes in
tukar mata uang asing. Pengaruh dari risiko foreign exchange rates. The Group’s exposure
perubahan nilai tukar mata uang asing terutama to the risk of changes in foreign exchange
berasal dari aktivitas usaha Kelompok Usaha rates relates primarily to the Group’s operating
(ketika pendapatan dan beban terjadi dalam activities (when revenue or expense are
dalam uang yang berbeda dari mata uang denominated in a different currency from the
fungsional Kelompok Usaha), dan pinjaman Group’s functional currency), and US Dollar
dalam mata uang Dolar AS. denominated loans.

Eksposur fluktuasi nilai tukar atas Perusahaan Exposure to exchange rate fluctuations to the
dan entitas anak tertentu di Indonesia berasal Company and certain subsidiaries in
dari nilai tukar antara Dolar AS dan Rupiah Indonesia comes from the exchange rate
karena mata uang fungsional adalah Rupiah, between US Dollar and Rupiah as the
sedangkan penjualan dan pendapatan tertentu, functional currency is Rupiah, while certain
beban pokok penjualan dan pendapatan tertentu sales and revenues, costs of sales and
serta pinjaman tertentu dilakukan dalam Dolar revenues and loans are denominated in US
AS. Bagian signifikan dari risiko nilai tukar mata Dollar. The significant portion of the foreign
uang asing berasal dari kas dan setara kas, exchange risk is contributed by cash and cash
piutang, hutang, dan biaya yang masih harus equivalents, account receivables, account
dibayar. payables, and accrued expenses.

139

420 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

35. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 35. FINANCIAL RISK MANAGEMENT OBJECTIVES
KEUANGAN (lanjutan) AND POLICIES (continued)

b. Risiko Pasar (lanjutan) b. Market Risk (continued)

Risiko nilai tukar mata uang asing (lanjutan) Foreign exchange risk (continued)

Untuk mengantisipasi dan mengurangi risiko In order to anticipate and mitigate the risk of
fluktuasi kurs terhadap Dolar AS, Perusahaan exchange rate fluctuations against the US
mengusahakan, dimana memungkinkan, untuk Dollar, the Company seeks, where possible, to
memastikan bahwa sebagian besar pembelian ensure that significant portions of purchases
dan penjualan dilakukan dalam mata uang yang and sales are carried out in the same currency
sama serta dilakukan pada saat yang as well as matching the timing of transactions
hampir bersamaan dan mengimplementasikan and to implement a policy whereby debts in
kebijakan dimana hutang dalam mata uang asing foreign currency used to finance business
yang digunakan untuk membiayai kegiatan activities are made in the same currency
usaha dilakukan dalam mata uang yang sama (natural hedging). The management monitors
(lindung nilai alami). Manajemen juga memantau to make sure that such policies are
untuk memastikan bahwa kebijakan tersebut implemented to the maximum extent possible.
diimplementasikan semaksimum mungkin, The Company also enters, as appropriate, into
dimana memungkinkan. Perusahaan juga forward transactions with banks to buy US
melakukan transaksi pembelian forward untuk Dollar in relation with the purchases of
membeli Dolar AS dari bank sehubungan petroleum products made in US Dollar to
dengan pembelian produk BBM yang dilakukan create a hedging over the risk of currency
dalam mata uang Dolar AS dengan tujuan untuk exchange.
menciptakan lindung nilai terhadap risiko nilai
tukar tersebut.

Kelompok Usaha memonitor secara ketat The Group closely monitors the foreign
fluktuasi dari nilai tukar mata uang asing, exchange rate fluctuation and market
sehingga dapat mengambil langkah-langkah expectation so it can take necessary actions
yang paling menguntungkan Kelompok Usaha benefited most to the Group in due time,
pada waktu yang tepat, antara lain, dengan among others, by buying forward with the
membeli transaksi forward dengan tujuan untuk purpose of hedging the exchange risk from its
lindung nilai dari risiko nilai tukar pembelian US Dollar purchases of petroleum products as
produk BBM dalam mata uang Dolar AS seperti mentioned above.
yang dijelaskan di atas.

Tabel berikut menunjukkan sensitivitas atas The following table demonstrates the
perubahan yang wajar dari nilai tukar Rupiah sensitivity to a reasonably change in Rupiah
terhadap Dolar AS, dimana semua variabel lain exchange rate against US Dollar, with all other
konstan dan mengasumsikan tidak ada variables held constant and assuming no
pembelian tambahan kontrak forward, atas aset additional forward contracts were purchased,
dan liabilitas moneter dalam Dolar AS terhadap on the US Dollar denominated monetary asset
laba sebelum pajak penghasilan konsolidasian and liabilities, to the consolidated profits
untuk tahun yang berakhir pada tanggal before income tax for the year ended
31 Desember 2024: December 31, 2024:
Kenaikan
(penurunan) Efek terhadap
dalam persentase/ laba sebelum
Increase pajak/
(decrease) Effect on income
in percentage before tax

Dolar AS - Rupiah 1% (5.505.348) US Dollar - Rupiah

(1%) 5.505.348

140

Annual Report 2024 421

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

35. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 35. FINANCIAL RISK MANAGEMENT OBJECTIVES
KEUANGAN (lanjutan) AND POLICIES (continued)

b. Risiko Pasar (lanjutan) b. Market Risk (continued)

Risiko nilai tukar mata uang asing (lanjutan) Foreign exchange risk (continued)

Aset dan liabilitas moneter yang signifikan dari The Group’s significant monetary assets and
Kelompok Usaha dalam mata uang asing pada liabilities denominated in foreign currencies at
tanggal-tanggal pelaporan disajikan pada reporting dates are presented in Note 30.
Catatan 30.

Risiko harga komoditas Commodity price risk

Kelompok Usaha, secara khusus Perusahaan, The Group, in particular the Company, is
dipengaruhi oleh labilnya harga beberapa affected by the volatility of certain commodity
komoditas di pasar dari waktu ke waktu, prices in the market from time to time,
terutama dari komoditas harga minyak (“BBM”). specifically from petroleum products (“BBM”).
Penjualan BBM menyumbangkan lebih dari 50% The sales of BBM contributed over 50% for
pada kedua periode yang disajikan dari both periods presented from total consolidated
penjualan dan pendapatan konsolidasian. sales and revenues. The management
Manajemen memonitor pergerakan (tren) dan monitors the market trend and analysis of BBM
analisa pasar atas harga BBM secara ketat dan price strictly and continuously to minimize
terus menerus untuk meminimalisasi efek significant and negative impact to its financial
signifikan dan negatif terhadap kinerja performance. Management also reduces the
keuangannya. Manajemen juga mengurangi risk by maintaining a proper inventory level to
risiko ini dengan memelihara tingkat persediaan get the optimum effect from natural hedging.
secara tepat untuk mengambil efek terbaik dari
lindung nilai alami.

c. Risiko Likuiditas c. Liquidity Risk

Risiko likuiditas adalah risiko dimana Kelompok Liquidity risk is the risk that the Group is
Usaha tidak bisa memenuhi kewajiban pada saat unable to meet its obligations when they fall
jatuh tempo. Manajemen melakukan evaluasi due. The management evaluates and
dan pengawasan yang ketat atas arus kas monitors cash-in flows and cash-out flows to
masuk (cash-in) dan kas keluar (cash-out) untuk ensure the availability of fund to settle the due
memastikan tersedianya dana untuk memenuhi obligation. In general, fund needed to settle
kebutuhan pembayaran kewajiban yang jatuh the current and long-term liabilities is obtained
tempo. Secara umum, kebutuhan dana untuk from sales activities to customers.
pelunasan kewajiban jangka pendek maupun
jangka panjang yang jatuh tempo diperoleh dari
penjualan kepada pelanggan.

141

422 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

35. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 35. FINANCIAL RISK MANAGEMENT OBJECTIVES
KEUANGAN (lanjutan) AND POLICIES (continued)

c. Risiko Likuiditas (lanjutan) c. Liquidity Risk (continued)

Tabel di bawah merupakan profil jatuh tempo The table below summarizes the maturity
liabilitas keuangan Kelompok Usaha pada profile of the Group’s financial liabilities at
jumlah kontraktual yang belum didiskonto pada undiscounted contractual amount as of
tanggal 31 Desember 2024 dan 2023: December 31, 2024 and 2023:
2024

Lebih dari 1
tahun sampai
dengan 2 tahun/ Lebih dari
Di bawah 1 tahun/ Over 1 year 3 tahun/ Total/
Below 1 year up to 2 years Over 3 years Total

Liabilitas Keuangan Financial Liabilities

Hutang bank jangka pendek 7.047.633 - - 7.047.633 Short-term bank loan
Hutang usaha 10.391.582.462 - - 10.391.582.462 Trade payables
Other payables -
Hutang lain-lain - pihak ketiga 464.043.998 - - 464.043.998 third parties
Biaya masih harus dibayar 585.685.122 - - 585.685.122 Accrued expenses
Liabilitas imbalan kerja jangka Short-term employee
pendek 144.298.160 - - 144.298.160 benefits liabilities
Liabilitas sewa 47.734.252 281.892.436 433.446.673 763.073.361 Lease liabilities
Hutang bank jangka panjang Long-term bank loans
dan lainnya 1.523.314.120 2.194.403.473 2.185.504.208 5.903.221.801 and others
Hutang dividen 1.000.288 54.107.938 - 55.108.226 Dividend payable
Total Financial
Total Liabilitas Keuangan 13.164.706.035 2.530.403.847 2.618.950.881 18.314.060.763 Liabilities

2023

Lebih dari 1
tahun sampai
dengan 2 tahun/ Lebih dari
Di bawah 1 tahun/ Over 1 year 3 tahun/ Total/
Below 1 year up to 2 years Over 3 years Total

Liabilitas Keuangan Financial Liabilities

Hutang bank jangka pendek 5.024.792 - - 5.024.792 Short-term bank loan
Trade payables -
Hutang usaha - pihak ketiga 9.519.185.995 - - 9.519.185.995 third parties
Other payables -
Hutang lain-lain - pihak ketiga 349.640.045 - - 349.640.045 third parties
Biaya masih harus dibayar 571.823.594 - - 571.823.594 Accrued expenses
Liabilitas imbalan kerja jangka Short-term employee
pendek 187.750.044 - - 187.750.044 benefits liabilities
Liabilitas sewa 50.970.667 38.999.148 453.875.080 543.844.895 Lease liabilities
Hutang bank jangka panjang Long-term bank loans
dan lainnya 1.361.166.115 1.887.097.029 1.918.953.375 5.167.216.519 and others
Hutang obligasi 39.074.191 - - 39.074.191 Bonds payables
Hutang dividen 55.536.914 - - 55.536.914 Dividend payable
Total Financial
Total Liabilitas Keuangan 12.140.172.357 1.926.096.177 2.372.828.455 16.439.096.989 Liabilities

142

Annual Report 2024 423

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

35. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 35. FINANCIAL RISK MANAGEMENT OBJECTIVES
KEUANGAN (lanjutan) AND POLICIES (continued)

c. Risiko Likuiditas (lanjutan) c. Liquidity Risk (continued)

Perubahan pada Liabilitas yang Timbul dari Changes in Liabilities Arising from
Aktivitas Pendanaan Financing Activities
2024

Efek
Selisih Kurs/
1 Januari/ Arus Kas Neto/ Exchange Lain-lain/ 31 Desember/
January 1 Net Cash Flow Rate Effect Others December 31
Hutang bank jangka
pendek 5.000.000 2.000.000 - - 7.000.000 Short-term bank loan
Bagian lancar atas
hutang bank
jangka panjang Current maturities
dan lainnya 1.089.267.780 (2.120.433.982) - 2.172.017.406 1.140.851.204 on long-term bank loans and others
Hutang bank
jangka panjang
dan lainnya 3.117.277.847 2.700.000.000 (4.763.279) (2.167.480.819) 3.645.033.749 Long-term bank loans and others
Bagian lancar Current maturities on
atas hutang obligasi 36.833.937 (37.000.000) - 166.063 - bonds payables
Liabilitas sewa 380.386.577 (131.265.846) 1.197.547 273.908.762 524.227.040 Lease liabilities
Hutang dividen 55.536.914 - - (428.688) 55.108.226 Dividend payable

Total liabilitas
dari aktivitas Total liabilities from
pendanaan 4.684.303.055 413.300.172 (3.565.732) 278.182.724 5.372.220.219 financing activities

2023

Efek
Selisih Kurs/
1 Januari/ Arus Kas Neto/ Exchange Lain-lain/ 31 Desember/
January 1 Net Cash Flow Rate Effect Others December 31
Hutang bank jangka
pendek 1.573.705 3.426.900 (605) - 5.000.000 Short-term bank loan
Bagian lancar atas
hutang bank
jangka panjang Current maturities
dan lainnya 554.639.521 (870.240.766) (2.627.335) 1.407.496.360 1.089.267.780 on long-term bank loans and others
Hutang bank
jangka panjang
dan lainnya 2.101.263.279 2.438.212.337 (3.652.343) (1.418.545.426) 3.117.277.847 Long-term bank loans and others
Bagian lancar Current maturities on
atas hutang obligasi - - - 36.833.937 36.833.937 bonds payables
Hutang obligasi 36.751.679 - - (36.751.679) - Bonds payables
Liabilitas sewa 322.335.069 (59.676.224) (1.392.561) 119.120.293 380.386.577 Lease liabilities
Hutang dividen 55.094.165 - - 442.749 55.536.914 Dividend payable
Total liabilitas
dari aktivitas Total liabilities from
pendanaan 3.071.657.418 1.511.722.247 (7.672.844) 108.596.234 4.684.303.055 financing activities

Kolom ‘Lain-lain’ mencakup efek reklasifikasi ke The ‘Others’ column includes the effect of
bagian lancar atas hutang bank jangka panjang, reclassification to current maturities on long-
hutang obligasi, penambahan sewa dan term bank loans and bonds payables, lease
penyesuaian karena berlalunya waktu. addition and adjustments due to the passage
Kelompok Usaha mengklasifikasikan bunga of time. The Group classifies interest paid as
yang dibayarkan sebagai arus kas dari aktivitas cash flows from operating activities.
operasi.

143

424 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

35. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 35. FINANCIAL RISK MANAGEMENT OBJECTIVES
KEUANGAN (lanjutan) AND POLICIES (continued)

PENGELOLAAN MODAL CAPITAL MANAGEMENT

Tujuan utama pengelolaan modal Kelompok Usaha The primary objective of AKR Group’s capital
AKR adalah untuk memastikan pemeliharaan rasio management is to ensure that it maintains certain
modal tertentu yang sehat untuk mendukung usaha healthy capital ratios in order to support its
dan memaksimalkan imbalan bagi pemegang saham. business and maximize shareholder value. On a
Secara kelompok maupun pada tingkat entitas induk group basis, as well as at parent level, the
saja, manajemen menetapkan batas-batas, yang management sets up the measurement limits, on
tergantung kepada sifat proyek, untuk pengukuran the key capital related ratios, among others, Return
rasio-rasio utama sehubungan dengan modal, antara of Equity (“ROE”) and Debt to Equity Ratio (“DER”),
lain, yaitu Rasio Pengembalian atas Ekuitas (“ROE”) depending on the nature of the project. The
dan Rasio Hutang terhadap Ekuitas (“DER”), management manages the capital structure and
tergantung pada sifat dari proyek. Manajemen makes adjustments to it in line of changes in
mengelola struktur permodalan dan melakukan economic conditions. To maintain or adjust the
penyesuaian, berdasarkan perubahan kondisi capital structure, AKR Group may choose several
ekonomi. Untuk memelihara dan menyesuaikan options, among others, adjustment to dividend
struktur permodalan, Kelompok Usaha AKR dapat payment or issue new shares.
memilih sejumlah opsi seperti, antara lain,
menyesuaikan pembayaran dividen atau
menerbitkan saham baru.

Pada tingkat entitas induk, Perusahaan juga memiliki At the parent entity level, the Company also has
sejumlah persyaratan rasio keuangan yang diminta certain financial ratio covenants imposed by the
para kreditur sehubungan dengan fasilitas kredit yang lenders from the available credit facilities provided
diberikan kepada Perusahaan. Sejumlah Entitas to the Company. Certain Subsidiaries are also
Anak juga dimintakan hal yang sama oleh para required the same requirements by their lenders. In
krediturnya. Di luar ROE dan DER, rasio terkait modal addition to the above ROE and DER, the ratio
yang juga disyaratkan para kreditur adalah rasio which is also imposed by the lenders related to
Investasi terhadap Ekuitas (“IER”) pada tingkat capital is the Investment to Equity Ratio (“IER”) at
Perusahaan. Selain itu, Perusahaan juga the Company’s level. In addition, the Company is
dipersyaratkan oleh Undang-undang Perusahaan also required by the Corporate Law Year 2007 to
Tahun 2007 untuk mengkontribusikan sampai contribute to and maintain a non-distributable
dengan 20% dari modal saham diterbitkan dan reserve fund until the said reserve reaches 20% of
dibayar penuh ke dalam dana cadangan yang tidak the issued and fully paid share capital.
boleh didistribusikan. Perusahaan telah melakukan The Company has set aside a reserve on a yearly
pencadangan secara tahunan dalam Rapat Umum basis through the Annual General Shareholders’
Tahunan Para Pemegang Saham ke akun Saldo Meeting to the Appropriated Retained Earnings
Laba yang Ditentukan Penggunaannya. account.

Pada tanggal-tanggal pelaporan, manajemen dapat At reporting dates, the management is able to
mempertahankan rasio aktual di atas batasan yang maintain the actual ratios above the limits set as
yang dijelaskan dalam Catatan 17 dan 18. mentioned in Notes 17 and 18.

144

Annual Report 2024 425

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

36. AKTIVITAS NON-KAS 36. NON-CASH ACTIVITIES

Aktivitas non-kas yang mendukung laporan arus kas Non-cash activities supporting the consolidated
konsolidasian pada setiap tanggal pelaporan adalah statements of cash flows at each reporting date is
sebagai berikut: as follows:

31 Des. 2024/ 31 Des. 2023/

Dec. 31, 2024 Dec. 31, 2023

Acquisitions of property, plant

Penambahan aset tetap melalui and equipment through
penambahan hutang - akumulasi 402.385.377 323.909.397 incurrence of liabilities - accumulated

Acquisitions of property, plant

Penambahan aset tetap melalui and equipment through
reklasifikasi uang muka 12.354.068 - reclassification from advance payments

Penerimaan dividen Dividend from

dari entitas asosiasi an associate through
melalui piutang - 4.403.386 receivable

37. REKLASIFIKASI AKUN 37. RECLASSIFICATION OF ACCOUNTS

Akun-akun tertentu dalam laporan keuangan Certain accounts in the consolidated financial
konsolidasian Kelompok Usaha per 31 Desember statement of the Group as of December 31, 2023
2023 telah direklasifikasi agar sesuai dengan have been reclassified to conform
penyajian dalam laporan keuangan konsolidasian with the presentation in the consolidated
Kelompok Usaha per 31 Desember 2024. financial statements of the Group as of
December 31, 2024.

Rincian klasifikasi tersebut adalah sebagai berikut: The details of the reclassifications are as follows:
Dilaporkan
sebelumnya/ Reklasifikasi/ Disajikan kambali/
As previously Reclassification As reclassified
reported

Laporan posisi keuangan konsolidasian Consolidated statement of financial position

Aset Lancar Current Assets

Pajak dibayar di muka 197.028.073 (107.011.452) 90.016.621 Prepaid taxes
Aset lancar lainnya 15.040.591 148.960.141 164.000.732 Other current assets

Liabilitas Jangka Pendek Current Liabilities

Hutang pajak 450.027.838 (41.948.689) 491.976.527 Taxes payable

145

426 Annual Report 2024

 The original consolidated financial statements included herein
are in the Indonesian language.

PT AKR CORPORINDO TBK PT AKR CORPORINDO TBK

DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan As of December 31, 2024 and
Untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in Thousands of Rupiah,
(Disajikan dalam Ribuan Rupiah, unless Otherwise Stated)
kecuali Dinyatakan Lain)

38. PERISTIWA SETELAH PERIODE PELAPORAN 38. EVENT AFTER THE REPORTING PERIOD

Pada tanggal 15 Januari 2025, Perusahaan On January 15, 2025, the Company signed loan
menandatangani perjanjian pinjaman dengan agreements with PT Bank Rakyat Indonesia
PT Bank Rakyat Indonesia (Persero) Tbk (“BRI”), (Persero) Tbk (“BRI”), whereby BRI agreed to
dimana BRI setuju untuk menyediakan fasilitas provide credit facilities:
berupa:

i) Fasilitas kredit dengan total US$200.000.000 i) Credit facility at US$200,000,000 with sub-limit
dengan sub-limit: KMK Buyer, LC/SKBDN, Kredit to KMK Buyer, LC/SKBDN, Short-term Credit,
Jangka Pendek, BG/SBLC, SCF A/P; BG/SBLC, SCF A/P;

ii) Fasilitas Forex Line dengan sebesar ii) Forex Line facility with limit at US$20,000,000.
US$20.000.000.

Perjanjian ini juga mensyaratkan Perusahaan untuk The agreement also requires the Company to
mempertahankan rasio keuangan tertentu. Fasilitas maintain several financial ratios. These facilities
ini berlaku sampai dengan tanggal 15 Januari 2026. valid until January 15, 2026.

146

Annual Report 2024 427

Cross-Reference No. 16/SEOJK.04/2021:
Format and Completing the Annual Report
of Issuers or Public Companies
Description Page

I. General Terms

II. Report Format

1. The Annual Report is presented in the form of printed and electronic documents. v

2. The Annual Report is presented in the form of a printed document, printed on light colored paper, of
v
good quality, A4 size, bound, and can be reproduced with good quality.

3. The Annual Report may present information in the form of pictures, graphs, tables, and/or diagrams by
v
including clear titles and/ or descriptions, so that they are easy to read and understand.

4. The Annual Report presented in the form of an electronic document is the Annual Report converted
v
into a portable document format (PDF).

III. Annual Report Contents

1. The Annual Report shall at least contain:

a. overview of important financial data; 20-24

b. stock information (if any); 24-25

c. report of the Board of Directors; 40-47

d. report of the Board of Commissioners; 34-38

e. profile of the Issuer or Public Company; 54-103

f. management analysis and discussion; 106-141

g. governance of Issuers or Public Companies; 156-265

h. social and environmental responsibility of the Issuer or Public Company; SR

i. audited annual financial report; and 267-427

j. statement letter of members of the Board of Directors and members of the Board of Commissioners
50-51
regarding their responsibility for the Annual Report.

2. Description of Annual Report Contents

a. Summary of Important Financial Data Summary of important financial data containing financial
information that is presented in the form of a comparison for 3 (three) fiscal years or since starting
20-24
its business if the Issuer or Public Company has carried out its business activities for less than 3
(three) years, at least containing:

i. income/sales; 21

ii. gross profit; 21

iii. profit (loss); 21

iv. the amount of profit (loss) attributable to owners of the parent entity and non-controlling interests; 21

v. total comprehensive profit (loss); 21

vi. total comprehensive profit (loss) attributable to owners of the parent entity and non-controlling
21
interests;

Annual Report 2024 429

 Description Page

vii. earning (loss) per share; 21

viii. total assets; 20

ix. total liabilities; 20

x. total equity; 20

xi. ratio of profit (loss) to total assets; 22

xii. ratio of profit (loss) to equity; 22

xiii. ratio of profit (loss) to revenue/sales; 22

xiv. current ratio; 22

xv. ratio of liabilities to equity; 22

xvi. ratio of liabilities to total assets; and 22

xvii. other information and financial ratios relevant to the Issuer or Public Company and the type of
22
industry

b. Stock Information
24-25
Stock information for a Public Company shall at least contain:

i. shares that have been issued for each quarterly period presented in the form of a comparison for
24
the last 2 (two) fiscal years, at least containing:

• number of shares outstanding 24

• market capitalization based on the price on the stock exchange where the shares are listed; 24

• the highest, lowest, and closing share prices based on prices on the stock exchange where the
24
shares are listed; and

• trading volume on the stock exchange where the shares are listed. 24

Information in letter b), letter c) and letter d) is only disclosed if the shares are listed on a stock
-
exchange;

ii. in the event of a corporate actions that causes changes in shares, such as stock splits, reverse
stock, stock dividends, bonus shares, changes in the nominal value of shares, issuance of
25
conversion securities, as well as capital additions and deductions, stock information as referred to
in number 1) shall be added with at least an explanation regarding:

• the date of implementation of the corporate action; -

• the ratio of stock splits, reverse stock, stock dividends, bonus shares, the number of convertible
-
securities issued, and changes in the nominal value of shares;

• the number of outstanding shares before and after the corporate action; -

• the number of convertible securities exercised (if any); and -

• the share price before and after the corporate action; -

in the event of a temporary suspension of share trading (suspension) and/or delisting of shares in the
25
fiscal year, the reasons for the suspension and/or delisting of shares shall be explained; and

in the event that the temporary suspension of share trading as referred to in number 3) and/or the
delisting process is still ongoing until the end of the Annual Report period, it explains the actions taken 25
to resolve the temporary suspension of share trading and/or cancellation of the share listing (delisting).

c. Board of Directors' Report 40-47

i. The Board of Directors' report shall at least contain a brief description of:

• performance of the Issuer or Public Company, at least containing: 42-43

• strategy and strategic policies of the Issuer or Public Company; 42

430 Annual Report 2024

 Description Page

• role of the Board of Directors in formulating strategies and strategic policies of Issuers or Public
42
Companies;

• process carried out by the Board of Directors to ensure the implementation of the Issuer's or
42
Public Company's strategy;

• comparison between the results achieved and those targeted by the Issuer or Public Company;
43
and

• obstacles faced by Issuers or Public Companies; 42

ii. description of the business prospects of the Issuer or Public Company; and 46

iii. implementation of the governance of Issuers or Public Companies. 43-44

d. Board of Commissioners’ Report 34-38

The Board of Commissioners' report shall at least contain a brief description of:

i. evaluation of the performance of the Board of Directors regarding the management of Issuers or
Public Companies, including the supervision of the Board of Commissioners in the formulation
36-37
and implementation of strategies for Issuers or Public Companies carried out by the Board of
Directors;

ii. views on the business prospects of the Issuer or Public Company prepared by the Board of
38
Directors; and

iii. views on the implementation of governance of the Issuer or Public Company 37-38

e. Issuer or Public Company Profile 54-103

The profile of the Issuer or Public Company contains at least the following information: 54

i. name of the Issuer or Public Company, including if there is a change in name, the reason for the
54
change, and the effective date of the name change in the fiscal year;

ii. access to Issuers or Public Companies including branch offices or representative offices that
54-55
enable the public to obtain information about Issuers or Public Companies, including:

• address; 55

• telephone number; 55

• e-mail address; and 55

• website address; 55

iii. brief history of the Issuer or Public Company; 56

iv. vision and mission of the Issuer or Public Company as well as the corporate culture or corporate
6-7 & 58
values;

v. business activities according to the latest articles of association, business activities carried out in
62-64
the fiscal year, as well as types of goods and/or services produced;

vi. operational area of the Issuer or Public Company; operational area is the area or area for the
9 & 102-103
implementation of operational activities or the range of the company's operational activities.

vii. organizational structure of the Issuer or Public Company in the form of a chart, at least up to the
structure of 1 (one) level below the Board of Directors including committees under the Board of
70
Directors (if any) and committees under the Board of Commissioners, accompanied by names
and positions;

viii. list of industry association memberships both on a national and international scale related to the
69
implementation of sustainable finance;

Annual Report 2024 431

 Description Page

ix. Directors’ profile, at least containing: 74-80

• name and position in accordance with the duties and responsibilities; v

• recent photograph; v

• age; v

• nationality; v

• education history and/or certification; v

• position history, including information on: v

▶ the legal basis for appointment as a member of the Board of Directors of the Issuer or Public
v
Company concerned;

▶ concurrent positions, either as a member of the Board of Directors, member of the Board
of Commissioners, and/or committee member as well as other positions both inside and
v
outside the Issuer or Public Company. In the event that a member of the Board of Directors
does not have concurrent positions, then this is disclosed; and

▶ work experience and period of time both inside and outside the Issuer or Public Company v

• affiliation with other members of the Board of Directors, members of the Board of
Commissioners, majority and controlling shareholders, either directly or indirectly to individual
v
owners, including names of affiliated parties. In the event that a member of the Board of
Directors has no affiliation, the Issuer or Public Company shall disclose this matter; and

• changes in the composition of the members of the Board of Directors and the reasons for the
changes. In the event that there is no change in the composition of the members of the Board 81
of Directors, this matter shall be disclosed;

x. profile of the Board of Commissioners, at least containing: 71-73

• name and position; v

• recent photograph; v

• age; v

• nationality; v

• education history and/or certification; v

• position history, including information on: v

▶ legal basis for appointment as member of the Board of Commissioners; v

▶ legal basis for the first appointment as a member of the Board of Commissioners who is an
v
independent commissioner of the Issuer or Public Company concerned;

▶ concurrent positions, either as a member of the Board of Commissioners, member of

the Board of Directors, and/or committee member as well as other positions both inside
v
and outside the Issuer or Public Company. In the event that a member of the Board of
Commissioners does not have concurrent positions, then this is disclosed; and

▶ work experience and period of time both inside and outside the Issuer or Public Company v

• affiliation with other members of the Board of Commissioners, major shareholders, and
controllers either directly or indirectly to individual owners, including names of affiliated parties;
v
In the event that a member of the Board of Commissioners has no affiliation, the Issuer or Public
Company shall disclose this matter;

• statement of independence of the independent commissioner in the event that the

v
independent commissioner has served more than 2 (two) terms; and

• changes in the composition of the members of the Board of Commissioners and the reasons
for the changes. In the event that there is no change in the composition of the members of the 81
Board of Commissioners, this matter shall be disclosed;

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xi. in the event that there is a change in the composition of the members of the Board of Directors
and/or members of the Board of Commissioners that occurs after the fiscal year ends up to the
deadline for submitting the Annual Report, the composition included in the Annual Report is the 81
last and previous composition of the members of the Board of Directors and/or members of the
Board of Commissioners;

xii. number of employees by gender, position, age, education level, and employment status
(permanent/contracted) in the fiscal year; Disclosure of information can be presented in tabular 146-147
form.

xiii. names of shareholders and percentage of ownership at the beginning and end of the fiscal year,
86-91
which consists of information regarding:

• shareholders who own 5% (five percent) or more shares of the Issuer or Public Company; 86

• members of the Board of Directors and members of the Board of Commissioners who own
shares of the Issuer or Public Company. In the event that all members of the Board of Directors
89-90
and/or all members of the Board of Commissioners do not own shares, then this matter is
disclosed; and

• community shareholder group, namely the group of shareholders who each own less than 5%
88
(five percent) of the shares of the Issuer or Public Company

The above information can be presented in tabular form.

xiv. the percentage of indirect ownership of the shares of the Issuer or Public Company by members
of the Board of Directors and members of the Board of Commissioners at the beginning and end
of the fiscal year, including information on shareholders registered in the shareholder register for 89-90
the benefit of indirect ownership of members of the Board of Directors and members of the Board
of Commissioners;

In the event that all members of the Board of Directors and/or all members of the Board of
Commissioners do not have indirect ownership of the shares of the Issuer or Public Company, this
matter shall be disclosed.

xv. number of shareholders and percentage of ownership at the end of the fiscal year based on
89
classification:

• ownership in local institutions; v

• ownership in foreign institutions; v

• local individual ownership; and v

• foreign individual ownership; v

xvi. information regarding the majority and controlling shareholders of the Issuer or Public Company,
either directly or indirectly, up to the individual owner, which is presented in the form of a schematic 90-91
or chart

xvii. the name of the subsidiary, associate, joint venture company where the Issuer or Public Company
has joint control of the entity (if any), along with the percentage of share ownership, line of business,
95-96
total assets, and operating status of the subsidiary, associated company, joint venture company;
For a subsidiary, information about the address of the subsidiary is added.

xviii. chronology of share listing, number of shares, nominal value, and offering price from the beginning
of listing to the end of the fiscal year as well as the name of the stock exchange where the shares
of the Issuer or Public Company are listed, including stock splits, reverse stock, dividends shares, 92-93
bonus shares, and changes in the nominal value of shares, implementation of conversion effects,
implementation of capital additions and subtractions (if any);

xix. other securities listing information other than the securities as referred to in number 18), which have
not yet matured in the fiscal year, at least contain the name of the securities, year of issue, interest 93
rate/yield, maturity date, offering value, and securities rating (if any);

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 Description Page

xx. information on the use of a public accountant (AP) and a public accounting firm (KAP) services and
97
their networks/ associations/alliances include:

• name and address; v

• assignment period; v

• information on audit and/or non-audit services provided; v

• audit and/or non-audit fees for each assignment given during the fiscal year; and v

• in the event that AP and KAP and their network/association/alliance, which are appointed do
v
not provide non-audit services, then the information is disclosed; and

• Disclosure of information on the use of AP and KAP services and their networks/associations/
v
aliances can be presented in tabular form.

xxi. name and address of capital market supporting institutions and/or professionals other than AP
98
and KAP

f. Management Analysis and Discussion 106-141

Management analysis and discussion contains analysis and discussion of financial statements and
other important information with an emphasis on material changes that occurred in the fiscal year, 106-141
which at least contains:

i. a review of operations per business segment according to the type of industry of the Issuer or
107-114
Public Company, at least regarding:

• production, which includes the process, capacity, and development; 107-113

• income/sales; and 108

• profitability; 113-114

ii. comprehensive financial performance which includes a comparison of financial performance in

the last 2 (two) fiscal years, an explanation of the causes of the changes and the impact of these 115-126
changes, at least regarding

• current assets, non-current assets, and total assets; 115-119

• current liabilities, long term liabilities, and total liabilities; 119-121

• equity; 121

• income/sales, expenses, profit (loss), other comprehensive income, and total comprehensive
122-126
profit (loss); and

• cash flows; 126

iii. ability to pay debts or obligations by presenting the relevant ratio calculations; 127

iv. collectibility level of the Issuer's or Public Company's receivables by presenting the relevant ratio
117-118
calculations;

v. capital structure and management policies on the capital structure with the basis for determining
128
the said policy;

vi. discussion of material ties for capital goods investment with an explanation that at least contains: 129

• the purpose of the bond; v

• the expected source of funds to fulfill the commitment; v

• the currency in which it is denominated; and v

• steps that are planned by the Issuer or Public Company to protect the risk from the related
v
foreign currency position;

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 Description Page

vii. discussion of capital goods investments realized in the last fiscal year, at least contains: 129

• type of capital goods investment; v

• the purpose of capital goods investment; and v

• the total of capital goods investments; v

viii. information and material facts occurring after the date of the accountant's report (if any); 131

ix. the business prospects of the Issuer or Public Company are related to the conditions of the
industry, the general economy and the international market accompanied by quantitative 132-134
supporting data from reliable data sources;

x. comparison between the target/projection at the beginning of the fiscal year with the results
129-130
achieved (realization), regarding:

• income/sales; v

• profit (loss); v

• capital structure; or v

• other matters deemed important to the Issuer or Public Company; v

xi. targets/projections to be achieved by the Issuer or Public Company for the next 1 (one) year,
130-131
regarding:

• income/sales; v

• profit (loss); v

• capital structure; or v

• other matters deemed important to the Issuer or Public Company; v

xii. marketing aspects of the goods and/or services of the Issuer or Public Company, at least regarding
135-136
the marketing strategy and market share;

xiii. description of dividends for the last 2 (two) fiscal years, at least: 134-135

• dividend policy, which includes information on the percentage of dividends distributed to net
134
income;

• date of payment of cash dividends and/or date of distribution of non-cash dividends; 135

• the amount of dividends per share (cash and/or non-cash); and 135

• the amount of dividends paid annually; 135

Disclosure of information can be presented in tabular form. In the event that the Issuer or Public
Company does not distribute dividends in the last 2 (two) years, this matter shall be disclosed.

xiv. realization of the use of proceeds from the public offering, provided that: 136

• n the event that during the fiscal year, the Issuer has an obligation to submit a report on the
realization of the use of funds, then the realization of the cumulative use of the proceeds from v
the public offering shall be disclosed until the end of the fiscal year; and

• in the event that there is a change in the use of funds as regulated in the Financial Services
Authority Regulation regarding the report on the realization of the use of the proceeds from the v
public offering, the Issuer shall explain the change;

xv. material information (if any), regarding investment, expansion, divestment, business merger/
consolidation, acquisition, debt/capital restructuring, material transactions, affiliated
136-139
transactions, and conflict of interest transactions, which occurred during the fiscal year, at least
containing :

• date, value, and object of the transaction; 139

• name of the party conducting the transaction; 139

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 Description Page

• nature of the affiliation relationship (if any); 139

• explanation of the fairness of the transaction; 138

• compliance with related provisions; and 138

• in the event that there is an affiliation relationship, apart from disclosing the information as
138
referred to in letter a) to letter e), the Issuer or Public Company also discloses information:

▶ a statement from the Board of Directors that the affiliate transaction has gone through
adequate procedures to ensure that the affiliate transaction is carried out in accordance
138
with generally accepted business practices, by complying with the arms-length principle;
and

▶ the role of the Board of Commissioners and the audit committee in carrying out adequate
procedures to ensure that affiliated transactions are carried out in accordance with 138
generally accepted business practices, by complying with the arms-length principle;

• for affiliated transactions or material transactions which are business activities carried out
to generate business income and are carried out regularly, repeatedly, and/or continuously,
an explanation is added that the affiliated transactions or material transactions are business v
activities carried out to generate operating income. and run regularly, repeatedly, and/or
continuously;

In the event that the affiliated transactions or material transactions referred to have been disclosed
in the annual financial statements, additional information regarding the disclosure reference in the v
annual financial statements is added.

• for disclosure of affiliated transactions and/or conflict of interest transactions resulting from
the implementation of affiliated transactions and/or conflict of interest transactions that have
been approved by independent shareholders, additional information regarding the date of v
the GMS which approved the affiliated transactions and/ or conflict of interest transactions is
added;

• in the event that there is no affiliated transaction and/or conflict of interest transaction, then
v
this shall be disclosed;

xvi. changes in the provisions of laws and regulations that have a significant effect on Issuers or Public
140
Companies and their impact on financial statements (if any); and

xvii. changes in accounting policies, reasons and impact on financial statements (if any). 140

g. Issuer or Public Company Governance 156-265

The governance of the Issuer or Public Company shall at least contain a brief description of:

i. GMS, at least contains: 166-176

• Information regarding the resolutions of the GMS in the fiscal year and 1 (one) year prior to the
fiscal year include:

▶ resolutions of the GMS in the fiscal year and 1 (one) year before the fiscal year realized in the
166-176
fiscal year; and

▶ resolutions of the GMS in the fiscal year and 1 (one) year before the fiscal year that have not
-
been realized and the reasons for not realizing them;

• in the event that the Issuer or Public Company uses an independent party in the conduct of the
169 & 173
GMS to calculate the votes, then this matter shall be disclosed

ii. The Board of Directors, at least contains: 184-190

• duties and responsibilities of each member of the Board of Directors; 185

• Information regarding the duties and responsibilities of each member of the Board of Directors
186-187
is described and can be presented in tabular form.

• a statement that the Board of Directors has guidelines or charter for the Board of Directors; 184

436 Annual Report 2024

 Description Page

• policies and implementation of the frequency of meetings of the Board of Directors, meetings
of the Board of Directors with the Board of Commissioners, and the level of attendance of 196-198
members of the Board of Directors in the meeting including attendance at the GMS;

• Information on the attendance rate of Board of Directors members in Board of Directors

meetings, joint meetings with the Board of Commissioners, or General Meetings of 196-198
Shareholders can be presented in table form.

• training and/or competency development of members of the Board of Directors: 189-190

▶ policies for training and/or improving the competence of members of the Board of
Directors, including an orientation program for newly appointed members of the Board of v
Directors (if any); and

▶ training and/or competency improvement attended by members of the Board of Directors

v
in the fiscal year (if any);

• the Board of Directors' assessment of the performance of the committees that support the
190
implementation of the Board of Directors' duties for the fiscal year shall at least contain:

performance appraisal procedures; and v

the criteria used are performance achievements during the fiscal year, are competence and
v
attendance at meetings; and

• in the event that the Issuer or Public Company does not have a committee that supports the
v
implementation of the duties of the Board of Directors, this matter shall be disclosed.

iii. The Board of Commissioners, at least contains: 177-182

• duties and responsibilities of the Board of Commissioners; 178

• a statement that the Board of Commissioners has guidelines or charter for the Board of
177
Commissioners

• policies and implementation of the frequency of meetings of the Board of Commissioners,

meetings of the Board of Commissioners with the Board of Directors and the level of attendance
196-197
of members of the Board of Commissioners in these meetings including attendance at the
GMS;

Information on the level of attendance of members of the Board of Commissioners at the meeting of
the Board of Commissioners, the meeting of the Board of Commissioners with the Board of Directors, 196-197
or the GMS can be presented in tabular form.

• training and/or competency improvement of members of the Board of Commissioners: 181-182

▶ policy on competency training and/or development of members of the Board of

Commissioners, including orientation programs for newly appointed members of the Board 181
of Commissioners (if any); and

▶ competency training and/or development attended by members of the Board of

181-182
Commissioners in the fiscal year (if any);

• performance appraisal of the Board of Directors and the Board of Commissioners as well as
198-199
each member of the Board of Directors and the Board of Commissioners, at least containing:

▶ procedures for implementing performance appraisals; v

▶ criteria used are performance achievements during the fiscal year, competency and
v
attendance at meetings; and

▶ party conducting the assessment; and v

• Board of Commissioners' assessment of the performance of the Committees that support the
182
implementation of the duties of the Board of Commissioners in the fiscal year includes:

▶ performance appraisal procedures; and v

▶ the criteria used are performance achievements during the fiscal year, competency and
v
attendance at meetings;

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 Description Page

iv. The nomination and remuneration of the Board of Directors and the Board of Commissioners shall
199-201
at least contain:

• nomination procedure, including a brief description of the policies and process for nomination
199
of members of the Board of Directors and/or members of the Board of Commissioners; and

• procedures and implementation of remuneration for the Board of Directors and the Board of
201
Commissioners, among others:

▶ procedures for determining remuneration for the Board of Directors and the Board of
201
Commissioners;

▶ the remuneration structure of the Board of Directors and the Board of Commissioners such
201
as salary, allowances, tantiem/bonus and others; and

▶ the amount of remuneration for each member of the Board of Directors and member of the
201
Board of Commissioners; Disclosure of information can be presented in tabular form.

v. The sharia supervisory board, for Issuers or Public Companies that carry out business activities
N/A
based on sharia principles as stated in the articles of association, shall at least contain:

• name; -

• legal basis for the appointment of the sharia supervisory board; -

• period of assignment of the sharia supervisory board; -

• duties and responsibilities of the sharia supervisory board; and -

• frequency and method of providing advice and suggestions as well as supervising the
-
fulfillment of sharia principles in the capital market to Issuers or Public Companies;

vi. The audit committee, at least contains: 202-207

• name and position in committee membership; v

• age; v

• nationality; v

• educational history; v

• position history, including information on: v

▶ legal basis for appointment as committee member; v

▶ concurrent positions, either as a member of the Board of Commissioners, member of the

v
Board of Directors, and/or member of the committee as well as other positions (if any); and

▶ work experience and period of time both inside and outside the Issuer or Public Company; v

• period and term of office of the audit committee members; v

• statement of independence of the audit committee; 204

• training and/or competency improvement that have been followed in the fiscal year (if any); 206-207

• policies and implementation of the frequency of audit committee meetings and the level of
205
attendance of audit committee members in those meetings; and

• the implementation of the audit committee's activities for the fiscal year in accordance with the
206
guidelines or charter of the audit committee;

vii. the nomination and remuneration committee or function of the Issuer or Public Company, at least
207-210
containing:

• name and position in committee membership; v

• age; v

• nationality; v

• educational history; v

438 Annual Report 2024

 Description Page

• position history, including information on: v

▶ legal basis for appointment as committee member; v

▶ concurrent positions, either as a member of the Board of Commissioners, member of the

v
Board of Directors, and/or committee member and other positions (if any); and

▶ work experience and period of time both inside and outside the Issuer or Public Company; v

• period and term of office of the committee members; v

• statement of committee independence; 208

• training and/or competency improvement that have been followed in the fiscal year (if any); 210

• description of duties and responsibilities; 208-209

• a statement that it has a guideline or charter; 207

• policies and implementation of the frequency of meetings and the level of attendance of
209
members at the meeting;

• brief description of the implementation of activities in the fiscal year; and 209

• in the event that no nomination and remuneration committee is formed, the Issuer or Public
-
Company is sufficient to disclose the information as referred to in letter i) to letter l) and disclose:

▶ reasons for not forming the committee; and -

▶ the party carrying out the nomination and remuneration function; -

viii. other committees owned by Issuers or Public Companies in order to support the functions and
duties of the Board of Directors (if any) and/or committees that support the functions and duties 211-212
of the Board of Commissioners, at least containing:

• name and position in committee membership; v

• age; v

• nationality; v

• educational history; v

• position history, including information on: v

▶ legal basis for appointment as committee member; v

▶ concurrent positions, either as a member of the Board of Commissioners, member of the

v
Board of Directors, and/or committee member and other positions (if any); and

▶ work experience and period of time both inside and outside the Issuer or Public Company; v

• period and term of office of the committee members; v

• statement of committee independence; 211

• training and/or competency improvement that have been followed in the fiscal year (if any); and -

• description of duties and responsibilities; 212

• a statement that the committee has had guidelines or charters; -

• policies and implementation of the frequency of committee meetings and the level of
-
attendance of committee members at the meeting; and

• a brief description of the committee's activities for the fiscal year; 212

ix. Corporate secretary, at least contains: 212-214

• name; v

• domicile; v

Annual Report 2024 439

 Description Page

• position history, including: v

▶ legal basis for appointment as company secretary; and v

▶ work experience and period of time both inside and outside the Issuer or Public Company; v

• educational history; v

• training and/or competency improvement followed during the fiscal year; and 213-214

• a brief description of the implementation of the duties of the corporate secretary for the fiscal
213
year;

x. Internal audit unit, at least contains: 214-219

• name of the head of the internal audit unit; v

• position history, including: v

▶ legal basis for the appointment as head of the internal audit unit; and v

▶ work experience and period of time both inside and outside the Issuer or Public Company; v

• qualification or certification as an internal audit profession (if any); 217-218

• training and/or competency improvement to be followed during the fiscal year; 217

• structure and position of the internal audit unit; 215

• description of duties and responsibilities; 216

• a statement that the internal audit unit has had guidelines or charters; and 214

xi. a brief description of the implementation of the internal audit unit's duties for the fiscal year
including the policy and implementation of the frequency of meetings with the Board of Directors, 218-219
Board of Commissioners, and/or audit committee;

• a description of the internal control system implemented by the Issuer or Public Company, at
219-223
least containing:

• financial and operational control, as well as compliance with other laws and regulations; 219

• review of the effectiveness of the internal control system; and 223

• statement of the Board of Directors and/or Board of Commissioners on the adequacy of the
223
internal control system;

xii. the risk management system implemented by the Issuer or Public Company, at least contains: 224-228

• general description of the risk management system of the Issuer or Public Company; 224

• types of risks and how to manage them; 225-226

• review of the effectiveness of the Issuer's or Public Company's risk management system; and 227

• statement of the Board of Directors and/or the Board of Commissioners or the audit committee
228
on the adequacy of the risk management system;

xiii. legal cases that have a material impact faced by Issuers or Public Companies, subsidiaries,
members of the Board of Directors and members of the Board of Commissioners (if any), at least 229
contain:

• subject matter/claim; v

• status of settlement of cases/claims; and v

• effect on the condition of the Issuer or Public Company; v

xiv. information on administrative sanctions/sanctions imposed on Issuers or Public Companies,

members of the Board of Commissioners and members of the Board of Directors, by the Financial 229
Services Authority and other authorities for the fiscal year (if any);

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xv. information regarding the code of ethics of the Issuer or Public Company includes: 232-234

• main points of the code of ethics; 232

• form of socialization of the code of ethics and its enforcement efforts; and 233

• a statement that the code of ethics applies to members of the Board of Directors, members of
233
the Board of Commissioners, and employees of Issuers or Public Companies;

xvi. a brief description of the policy of providing long-term performance-based compensation to

management and/or employees owned by the Issuer or Public Company (if any), including the
235
management stock ownership program (MSOP) and/or program employee stock ownership
(ESOP);

In terms of providing compensation in the form of a management stock ownership program (MSOP)
and/or an employee stock ownership program (ESOP), the information disclosed must at least 235
contain:

• number of shares and/or options; v

• implementation period; v

• requirements for eligible employees and/or management; and v

• exercise price or determination of exercise price; v

xvii. a brief description of the information disclosure policy regarding: 191

• share ownership of members of the Board of Directors and members of the Board of
Commissioners no later than 3 (three) working days after the occurrence of ownership or any v
change in ownership of shares of a Public Company; and

• implementation of the policy; v

xviii. a description of the whistleblowing system at the Issuer or Public Company, at least containing 236-238

• method of submitting a violation report; 237

• protection for whistleblowers; 237

• complaint handling; 238

• party managing the complaint; and 238

• result of complaint handling, at least: 238

▶ number of complaints received and processed in the fiscal year; and v

▶ follow-up on complaints; v

In the event that the Issuer or Public Company does not have a whistleblowing system, this matter is
-
disclosed.

xix. a description of the anti-corruption policy of the Issuer or Public Company, at least containing 236

• programs and procedures implemented in overcoming corrupt practices, kickbacks, fraud,

v
bribery and/or gratification in Issuers or Public Companies; and

• anti-corruption training/socialization to employees of Issuers or Public Companies; v

• In the event that the Issuer or Public Company does not have an anti-corruption policy, the
-
reasons for not having the said policy are explained.

xx. implementation of the Public Company governance guidelines for Issuers issuing equity securities
243-265
or Public Companies, including:

• a statement regarding the recommendations that have been implemented; and/or v

• explanation of recommendations that have not been implemented, along with reasons and
v
alternative implementations (if any).

Disclosure of information can be presented in tabular form. v

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 Description Page

h. Social and Environmental Responsibility of Issuers or Public Companies SR

i. The information disclosed in the social and environmental responsibility section is a Sustainability
Report as referred to in the Financial Services Authority Regulation Number 51/POJK.03/2017
v
concerning the Implementation of Sustainable Finance for Financial Services Institutions, Issuers,
and Public Companies, at at least includes:

• explanation of the sustainability strategy; v

• overview of sustainability aspects (economic, social, and environmental); v

• brief profile of the Issuer or Public Company; v

• explanation of the Board of Directors; v

• sustainability governance v

• sustainability performance; v

• written verification from an independent party, if any; v

• feedback sheet for readers, if any; and v

• the response of the Issuer or Public Company to feedback on the previous year’s report; v

ii. the response of the Issuer or Public Company to the previous year's report feedback; v

iii. information on the Sustainability Report in number 1) can: v

• disclosed in other relevant sections outside the social and environmental responsibility section,
such as the Directors' explanation regarding the Sustainability Report disclosed in the section v
related to the Directors' Report; and/or

• refers to other sections outside the social and environmental responsibility section by still
referring to the Technical Guidelines for the Preparation of Sustainability Reports for Issuers
v
and Public Companies as listed in Appendix II which is an integral part of this Financial Services
Authority Circular Letter, such as the profile of the Issuer or Public Company;

iv. The Sustainability Report as referred to in number 1) is an inseparable part of the Annual Report but
v
can be presented separately from the Annual Report;

v. In the event that the Sustainability Report is presented separately from the Annual Report, the
v
information disclosed in the Sustainability Report must:

• contains all the information as referred to in number 1); and v

• prepared in accordance with the Technical Guidelines for the Preparation of a Sustainability
Report for Issuers and Public Companies as listed in Appendix II which is an integral part of this v
Financial Services Authority Circular Letter;

vi. In the event that the Sustainability Report is presented separately from the Annual Report, then
the social and environmental responsibility section contains information that information on
v
social and environmental responsibility has been disclosed in the Sustainability Report which is
presented separately from the Annual Report; and

vii. Submission of the Sustainability Report which is presented separately from the Annual Report
v
must be submitted together with the Annual Report.

442 Annual Report 2024

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i. Audited Annual Financial Report 267-427

The annual financial reports contained in the Annual Report are prepared in accordance with financial
accounting standards in Indonesia and have been audited by a public accountant registered with
the Financial Services Authority. The said annual financial report contains a statement regarding the
accountability for financial statements as regulated in the Financial Services Authority Regulation
regarding the Board of Directors' responsibility for financial reports or the laws and regulations in the
capital market sector which regulates the periodic reports of securities companies in the event that
the Issuer is a securities company.

j. Statement Letters of Members of the Board of Directors and Members of the Board of
Commissioners regarding Responsibilities for the Annual Report Statements of members of the
Board of Directors and members of the Board of Commissioners regarding the responsibilities of
the Annual Report are prepared in accordance with the format of Statement Letters of Members of 50-51
the Board of Directors and Members of the Board of Commissioners regarding Responsibilities for
the Annual Report as contained in the Appendix I which is an integral part of this Financial Services
Authority Circular Letter.

Annual Report 2024 443

2024
Annual Report

AKR Tower
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Jakarta Barat 11530, Indonesia

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www.akr.co.id