FINANCIAL REVIEW

Scope of Transactions:

 Where the Public Company conducts Material Transactions in:

1. 1 (one) transaction; or
2. A series of transactions for a specific purpose or activity, must comply with the provisions as stipulated in POJK No.17/POJK.04/2020.

Value Limit:

1.  A transaction is categorized as a Material Transaction if the transaction value is equal to 20% (twenty percent) or more of the equity of the Public Company;
2. Transactions in the form of acquisitions and disposals of companies or operating segments are categorized as Material Transactions when:
1. The transaction value is equal to 20% (twenty percent) or more of the equity of the Public Company;
2. The total assets that are the object of the transaction divided by the total assets of the Public Company are equal to or more than 20% (twenty percent);
3. The net profit of the object of the transaction divided by the net profit of the Public Company is equal to or more than 20% (twenty percent); or
4. The operating income of the object of the transaction divided by the operating income of the Public Company is equal to or more than 20% (twenty percent).

(3) In the event that the transactions as referred to in (1) and (2) are carried out by a Public Company that has negative equity, the transaction is categorized as a Material Transaction if the transaction value is equal to 10% (ten percent) or more of the total assets of the Public Company.

CONFLICT OF INTEREST TRANSACTIONS

In accordance with Financial Services Authority Regulation No. 42/POJK.04/2020 concerning Affiliated Transactions and Conflict of Interest Transactions, a Conflict of Interest is the difference between the economic interests of a public company and the personal economic interests of members of the board of directors, members of the board of commissioners, majority shareholders, or the controlling shareholders that may harm the public company in question.

In 2021, there were no transactions that met any of the categories of conflict of interest transactions.

AFFILIATED TRANSACTIONS

Financial Manager Based on the Financial Services Authority Regulation No. 42/ POJK.04/2020 concerning Affiliated Transactions and Conflict of Interest Transactions, Affiliated means:

1. Familial relationships due to marriage and descent to the second degree, both horizontally and vertically;
2. Relationships between the party and the employee, director, or commissioner of the same party;
3. Relationships between 2 (two) companies where there are 1 (one) or more members on both board of directors or board of commissioners;
4. Relationships between the company and parties that directly or indirectly control or are controlled by the company;