Laporan Tahunan PT Lion Metal Works TBK 2022

PT LION METAL WORKS Tbk 1 ANNUAL REPORT 2022
Daftar Isi / Contents
IDENTITAS PERUSAHAAN
3 COMPANY IDENTITY
IKHTISAR DATA KEUANGAN

4 FINANCIAL HIGHLIGHTS
PROFIL PERUSAHAAN
9 COMPANY PROFILE
LAPORAN MANAJEMEN
29 MANAGEMENT REPORT
ANALISA DAN PEMBAHASAN MANAJEMEN

46 MANAGEMENT DISCUSSION AND ANALYSIS
TATA KELOLA PERUSAHAAN

62 GOOD CORPORATE GOVERNANCE
TANGGUNG JAWAB SOSIAL PERSEROAN

102 CORPORATE SOCIAL RESPONSIBILITY
SURAT PERNYATAAN
104 STATEMENT
LAPORAN KEUANGAN
105 FINANCIAL STATEMENTS

IDENTITAS PERUSAHAAN
Company Identity
Nama P erusahaan
Company Name
Tanggal Pendirian
Date of Establishment
PT LION METAL WORKS Tbk 16 - 08- 1972
Aug 16, 1972
Kantor Pusat & Pabrik

Head Office & Plant
Jl. Raya Bekasi KM 24,5 Cakung Jakarta Timur 13910 – DKI Jakarta
Telp. (021) 4600779, 4600784
Fax. (021) 4600785
Kantor Pemasaran
Marketing Office Dasar Hukum Pendirian
Legal Basic Establishment
Ruko Kahuripan Boulevard Blok RB Kav
18 & 19 Kahuripan Nirwana, Akta No. 21 Tanggal 16-08-1972
Sidoarjo 61226 - Jawa Timur Notaris Drs. Gde Ngurah Rai SH
Telp. (031) 58204848
Fax. (031) 51516768
Pabrik Purwakarta
Purwakarta Plant
Jl. Raya Sadang – Subang KM 12,5 Modal Ditempatkan Modal Dasar
Desa Cilandak, Kecamatan Cibatu dan Disetor Penuh Authorized Capital
Purwakarta 41181, Jawa Barat Issued & Fully Paid
Telp. (0264) 8281962, 8281963, Capital
8281964
Rp52.016.000.000,- Rp200.000.000.000,-
Fax. (0264) 8281965
Pabrik Sidoarjo Pemegang Saham

Sidoarjo Plant Shareholders
Desa Popoh RT 05 RW 01, Kecamatan
Wonoayu, Sidoarjo 61261, Jawa Timur Lion Holdings Sdn. Bhd., Kuala Lumpur 28,85 %
Telp. (031) 99037777 Lion Holdings Pte. Ltd., Singapore 28,85 %
Fax. (031) 99037000 Masyarakat / Public 42,30 %
Situs Kode Saham

Website Share code
www.lionmetal.co.id LION
Surel Nominal per Saham

Email Instagram Nominal per Share
lionmetalstore
ptlion@lionmetal.co.id Rp100,-

IKHTISAR DATA KEUANGAN
Financial Highlights
Dalam jutaan Rupiah / In Million Rupiah
Uraian 2022 2021 2020 Description
Posisi Keuangan / Financial Position

Aset Lancar 473.379,37 473.632,58 426.603,52 Current Assets
Aset Tidak Lancar 211.118,51 213.173,97 221.749,72 Non Current Assets
Total Aset 684.497,88 686.806,55 648.353,24 Total Assets
Total Liabilitas Jangka Pendek 135.297,37 145.920,42 110.454,40 Total Current Liabilities
Total Liabilitas Jangka Panjang 74.385,77 75.063,40 67.940,44 Total Non-Current Liabilities
Total Liabilitas 209.683,14 220.983,82 178.394,84 Total Liabilities
Total Ekuitas 474.814,74 465.822,73 469.958,40 Total Equity
Investasi Asosiasi 59.999,00 59.999,00 59.999,00 Investment in Associates
Modal Kerja Bersih 338.082,00 327.712,15 316.149,12 Net Working Capital
Laba-Rugi / Profit and Loss

Penjualan Neto 408.811,50 300.280,29 298.552,92 Net Sales
Laba Bruto 147.102,07 101.827,45 99.620,69 Gross Profit
Laba (Rugi) Usaha 4.149,73 (9.419,81) (11.999,59) Operating Income (Loss)
EBITDA 17.414,94 9.958,42 5.457,08 EBITDA
Laba (Rugi) Tahun Berjalan 2.314,36 (8.737,69) (9.571,33) Income (Loss) for The Year
Total Comprehensive Income
Total Laba (Rugi) Komprehensif 8.992,01 (4.135,68) (21.451,25) (Loss)
Total Laba (Rugi) yang Total Income (Loss)
Diatribusikan Kepemilik Entitas 2.314,36 (8.737,69) (9.571,33) Attributable
Induk to Owners of Parent Entity
Total Laba (Rugi) Komprehensif Total Comprehensive

yang Diatribusikan Kepemilik 8.992,01 (4.135,68) (21.451,25) Income (Loss) Attributed to
Entitas Induk Owners of Parent Entity
Laba (Rugi) Neto Per Saham
4 -17 -18 Earnings (Loss) Per Share (Rp)
Dasar (Rp)
Dalam % / In %
Pertumbuhan / Growth
Penjualan Neto 36,14% 0,58% (19,85)% Net Sales
Laba (Rugi) Usaha 144,05% 21,50% (307,85)% Operating Income (Loss)
Laba (Rugi) Tahun Berjalan 126,49% (8,71)% (1.133,10)% Income (Loss) for The Year
Total Comprehensive Income
Total Laba (Rugi) Komprehensif 317,43% (80,72)% (1.589,96)% (Loss)
Total Aset (0,34)% 5,93% (5,77)% Total Assets
Ekuitas 1,93% (0,88)% 0,27% Equity

Dalam % / In %
Uraian 2022 2021 2020 Description
Rasio Profitabilitas / Profitability Ratio

Marjin Laba Bruto 35,98% 33,91% 33,37% Gross Profit Margin
Operating Income
Marjin Laba (Rugi) Usaha 1,02% (3,14)% (4,02)% (Loss) Margin
Marjin Laba (Rugi) Neto 0,57% (2,91)% (3,21)% Net Income (Loss) Margin
Comprehensive
Marjin Laba (Rugi) Komprehensif 2,20% (1,38)% (7,19)% Income (Loss) Margin
Operation Income (Loss)

Laba (Rugi) Usaha terhadap Ekuitas 0,87% (2,02)% (2,55)% to Equity
Laba (Rugi) Usaha terhadap Operation Income (Loss)

Total Aset 0,61% (1,37)% (1,85)% to Total Asset
Laba (Rugi) Neto terhadap Net Income (Loss)

Ekuitas 0,49% (1,88)% (2,04)% to Equity
Laba (Rugi) Neto terhadap Total Net Income (Loss)

Aset 0,34% (1,27)% (1,48)% To Asset
Rasio Likuditas / Liqudity Ratio

Rasio Lancar 3,50 3,25 3,86 Current Ratio
Rasio Cepat 1,78 1,93 2,51 Quick Ratio
Rasio Solvabilitas / Solvency Ratio

Liabilitas terhadap Ekuitas 0,44 0,47 0,38 Liabilities to Equity
Liabilitas terhadap Total Aset 0,31 0,32 0,28 Liabilities to Total Asset
Rasio Aktivitas / Activity Ratio

Perputaran Persediaan 1,23 1,16 1,21 Inventory Turnover
Perputaran Aset Tetap 4,77 3,36 3,51 Fixed Assets Turnover
Perputaran Total Aset 0,60 0,44 0,46 Total Assets Turnover
Ekuitas terhadap Total Aset 0,69 0,68 0,72 Equity to total Assets
Informasi Saham / Stock Information

Harga Saham Tanggal 31 Des (Rp) 845 342 346 Share Price as at 31 Dec (Rp)
Price Earning Rasio (x) 189,92 (20,36) (18,80) Price Earning Ratio (x)
Jumlah Saham yang Beredar (‘000) 520.160 520.160 520.160 Number of Shares (‘000)
Nilai Kapitalisasi Pasar (Rp’000,000) 439.535 177.895 179.975 Market Capitalisation (Rp’000.000)

Grafik Pertumbuhan Usaha
Financial Graph
Penjualan / Sales Total Aset / Total Assets

dalam jutaan Rp / In million Rp

424,128 696,193
408,812 688,018
686,807 684,498
372,489
648,353
298,553 300,280
2018 2019 2020 2021 2022 2018 2019 2020 2021 2022
Modal Kerja Bersih / Net Working Capital Total Ekuitas / Total Equity

369,287 371,339
475,171 474,815
469,958
338,082 468,700
327,712 465,823
316,149
2018 2019 2020 2021 2022 2018 2019 2020 2021 2022
Laba (Rugi) Neto / Net Income (Loss) Laba (Rugi) Usaha / Operating Income (Loss)
14,680 14,139
5,773
4,150
2,314
926
(9,571) (8,738) (9,420)

(12,000)
2018 2019 2020 2021 2022 2018 2019 2020 2021 2022
Laba (Rugi) Usaha Terhadap Ekuitas Laba (Rugi) Usaha Terhadap Aset
Operating Income (Loss) to Equity Operating Income (Loss) to Asset
2.02
2.98
%
0.84
1.23 0.61
0.87
2018 2019 2020 2021 2022

2018 2019 2020 2021 2022 (1.37)
(2.02) (1.85)
(2.55)

Informasi Saham
Stock Information
Jumlah Saham Harga Saham (Rp) / Stock Price

yang Beredar Volume
Triwulan Perdagangan Kapitalisasi Pasar
Quarter Number of Out- Tertinggi Terendah Penutupan Market Capitalization
Standing Shares Trading Volume
Highest Lowest Closing
2022
I 520.160.000 390 310 324 1.658.700 168.531.840.000
II 520.160.000 450 300 376 11.670.900 195.580.160.000
III 520.160.000 476 354 420 1.912.700 218.467.200.000
IV 520.160.000 880 372 845 7.930.000 439.535.200.000
2021
I 520.160.000 420 330 344 929.200 178.935.040.000
II 520.160.000 498 334 402 1.905.000 209.104.320.000
III 520.160.000 458 330 374 18.683.500 194.539.840.000
IV 520.160.000 488 314 342 30.759.400 177.894.720.000
Grafik Harga Saham dan Volume Perdagangan

Stock Price Chart and Trading Volume
2022
2021

Informasi Aksi Korporasi
Information on Corporate Action
Sepanjang 2022, Perseroan tidak melakukan During Year 2022, the Company did not
aksi korporasi berupa pemecahan saham (stock conduct any corporate actions such as share
split), penggabungan saham (reverse stock), split, share consolidation, share dividend,
dividen saham, saham bonus, dan perubahan bonus share issuance, and change of share
nilai nominal saham. nominal value.
Dividen
Dividend
Tanggal Pembayaran Dividen per Dividen Tunai Laba/Rugi Neto

Tahun Buku Pembayaran Saham Cash Dividend Net Income (Loss)
Fiscal Year Payment Date Cash Dividend per Share (Rp) (Rp)
2017 26-07-2018 Rp15,- 7.802.400.000 9.282.943.009
2018 23-07-2019 Rp10,- 5.201.600.000 14.679.673.993
2019 - - - 926.463.199
2020 - - - (9.571.328.569)
2021 - - - (8.737.689.655)
Informasi Sanksi Perdagangan Saham

Information on Sanction Imposed on Share Trading
Sepanjang 2022, tidak terdapat

adanya sanksi yang diberikan Bursa
Efek kepada Perseroan seperti
penghentian sementara perdagangan
saham (suspension) dan/atau
penghapusan pencatatan saham
(delisting).
During Year 2022, there was no

sanction such as trading suspension
and/or delisting imposed by the Stock
Exchange on the Company.

PROFIL PERSEROAN
Company Profil
PT Lion Metal Works Tbk terus

menjadi produsen terkemuka dari
hasil produk plat baja dan sejenisnya PT Lion Metal Works Tbk
di Indonesia untuk kebutuhan pasar continues to be a leading
lokal serta pasar global dengan manufacturer of steel fabricated
memperhatikan keinginan & harapan products of its kind in Indonesia
pihak terkait, aspek lingkungan & K3 for the needa of the local and global
dengan tujuan untuk meningkatkan market which accommodate to the
kualitas hidup. desire and expectations of related
parties, Enviromental aspect and
OHS with the aim to enhance the
quality of life.
MISSION
PT Lion Metal Works Tbk is
committed to be a leading
manufacturer of steel fabricated PT Lion Metal Works Tbk bertekad
products through good planning, menjadi perusahaan terkemuka dalam
continuous improvement in menghasilkan produk-produk dari plat
product quality and design, with baja dan sejenisnya dengan membuat
competitive prices plus providing perencanaan yang semakin baik,
the best service to customers and meningkatkan kualitas desain/model
caring about work safety and produk secara terus menerus dengan
enviromental sustainability harga bersaing dan memberikan
pelayanan yang terbaik kepada
pelanggan serta peduli akan
Keselamatan Kerja dan Kelestarian
Lingkungan
Nilai Perusahaan
Core Values
Team Spirit Commitment

Semangat Tim Komitmen
yang Positif Bersama
Customer
Integrity & Oriented
Honesty Orientasi
Integritas dan kepada
Kejujuran Pelanggan
Respect &
Empathy for
Individuals
Saling
Menghormati
dan
Menghargai

Singkat
Profil
Brief History
Semangat Tim yang Positif Team Spirit

Komitmen Bersama Commitment
PT Lion Metal Works Tbk (‘Perseroan’) didirikan
pada tanggal 16 Agustus
Integritas dan 1972 Integrity &dalam
di Jakarta
Kejujuran Honesty
rangka Penanaman Modal
Orientasi kepada Asing yang
Pelanggan merupakan
Customer Oriented
kerjasama antara pengusaha
Saling Menghormati Indonesia,
dan Menghargai Respect & Empathy for Individuals
perusahaan Singapura dan Malaysia, berdasarkan
Akta Notaris Drs. Gde Ngurah Rai SH, No. 21
tanggal 16 Agustus 1972 dan diubah dengan Akta
No. 1 tanggal 2 Juni 1973 dan Akta No. 9
tanggal 11 Nopember 1974 dari notaris yang
sama. Akta pendirian dan perubahannya telah
diumumkan dalam Berita Negara No. 34 tanggal
29 April 1975 Tambahan No. 215.
The Company was established on August 16, 1972 in Jakarta under the name
PT Lion Metal Works Tbk as a Foreign Capital Investment Company and was
founded as a joint venture between Indonesian businessmen with
Singaporean and Malaysian Companies, based on Notarial Deed No. 21 dated
August 16,1972 of Drs. Gde Ngurah Rai SH, as amended by Notarial Deed
No.1 dated June 2, 1973 and No. 9 dated November 11, 1974 by the same
notary.
PT LION METAL WORKS TbkThe Deed of Establishment
11 and the amendments wereREPORT
ANNUAL published in
2022
Supplement No. 215 of State Gazette No. 34 dated April 29, 1975.
Pada tahun 1993 Perseroan memperoleh In 1993, the Company received approval from
persetujuan dari Ketua Badan Pengawasan the Chairman of the Capital Market
Pasar Modal (BAPEPAM) melakukan Penawaran Supervisory Agency (BAPEPAM) to offer a
Umum sebanyak 3.000.000 saham dan portion of its shares to the public through an
mencatatkan sebagian sahamnya di bursa efek Initial Public Offering of 3,000,000 shares and
sebanyak 5.501.000 saham. Pada tahun 1996 the partial number of shares listed on stock
Perseroan membagikan dividen saham exchange was 5,501,000 shares. In 1996, the
sebanyak 3.251.000 saham, saham bonus Company distributed 3,251,000 shares as
sebanyak 3.251.000 saham dengan rasio 4:1 share dividend, 3,251,000 bonus shares at the
dan kemudian melakukan Penawaran Umum ratio 4:1 and the Company carried out a Limited
Terbatas I sebanyak 32.510.000 saham Public Offering I of 32,510,000 shares on the
dengan ketentuan 3 saham lama mendapat 5 basis that every 3 existing shares will be
hak untuk membeli saham baru dengan harga entitled to rights to purchase 5 shares at
Rp1.000,-. Jumlah saham Perseroan yang Rp1,000 per share. The total number of shares
tercatat di Bursa Efek Indonesia adalah listed on the Indonesia Stock Exchange was
52.016.000 saham. 52,016,000 shares.
Pada tanggal 16 Oktober 1997, Lion Enterprise On October 16, 1997, Lion Enterprise Sdn.Bhd.,
Sdn. Bhd., Kuala Lumpur, salah satu Kuala Lumpur, one of the foreign shareholders,
pemegang saham asing, menjual 15.006.000 sold 15,006,000 shares in the Company to Lion
saham miliknya kepada Lion Holdings Sdn. Holdings Sdn. Bhd., Kuala Lumpur (formerly
Bhd., Kuala Lumpur (sebelumnya Capitalvent Capitalvent Industries Sdn. Bhd.). The
Industries Sdn. Bhd.). Perubahan pemilikan Investment Coordinating Board had approved
saham Perseroan tersebut telah disetujui oleh the change in the Company’s share ownership.
Menteri Negara Penggerak Dana
Investasi/Ketua Badan Koordinasi Penanaman
Modal.
Pada tanggal 7 April 1997, Perseroan On April 7, 1997, the Company acquired 96%
mengakuisisi 96% hak pemilikan saham of the equity of PT Singa Purwakarta Jaya
PT Singa Purwakarta Jaya (“SPJ”) dan pada (“SPJ”) and increased its ownership to 99.5%
tahun 2009 menambah hak kepemilikannya in Year 2009. SPJ is a domestic company which
menjadi 99,5%, perusahaan yang antara lain will be involved in general trading, real estate,
bergerak dalam bidang perdagangan umum, and industrial estate. Currently, SPJ is still in
pemukiman (real estate) dan kawasan industri. the development stage.
Sampai dengan saat ini, SPJ masih dalam tahap
pengembangan.
Setelah Penawaran Umum anggaran dasar The Company’s Article of Association had been
Perseroan telah mengalami beberapa kali amended several times to comply with
perubahan antara lain penyesuaian dengan Corporate Law No. 1 year 1995 and the change
Undang-Undang Perseroan Terbatas No. 1 of capital to Rp200,000,000.000,- and the
tahun 1995, perubahan modal dasar menjadi lastest amendment was notarized under
Rp200.000.000.000,- dan terakhir dengan Notarial Deed No. 32 dated June 10, 2008 by
Akta No. 32 tanggal 10 Juni 2008 berdasar Akta Fathiah Helmi SH, in compliance with
Notaris Fathiah Helmi SH, mengenai Corporate Law No.40 year 2007 and had been
penyesuaian dengan Undang Undang approved by Ministry of Law and Human Rights
Perseroan Terbatas No. 40 tahun 2007 dan of the Republic of Indonesia in its Decision
telah disetujui oleh Menteri Hukum dan Hak Letter No. AHU-86982.AH.01.02 year 2008
Asasi Manusia Republik Indonesia dengan Surat dated November 18, 2008. The Deed was
Keputusan No. AHU-86982.AH.01.02 Tahun published in Supplement No. 14945 of the State
2008 tanggal 18 Nopember 2008. Akta ini telah Gazette No. 47 dated June 14, 2011.
diumumkan dalam Berita Negara No. 47
tanggal 14 Juni 2011 Tambahan No.14945.

Pada tahun 2014, Perseroan melakukan In 2014, the Company expanded to LION
ekspansi di Kawasan Industri LION di Industrial Estate, which is owned by
Purwakarta milik PT Singa Purwakarta Jaya PT Singa Purwakarta Jaya (SPJ) at Purwakarta
(SPJ) dan baru mulai beroperasi komersial. and commercial operations had commenced
recently.
Berdasarkan akta No.5 tanggal 4 Juni 2015, Based on deed No.5 dated 4 June 2015, before
dihadapan Fathiah Helmi SH, Notaris di Jakarta Fathiah Helmi SH, Notary in Jakarta and
dan telah disetujui oleh Menteri Hukum dan approved by the Minister of Law & Human
HAM Republik Indonesia No.AHU- Rights of the Republic of Indonesia No.AHU-
0938633.AH.01.02 Tahun 2015 tanggal 0938633.AH.01.02 Year 2015 dated 3 July
3 Juli 2015. Perseroan telah melakukan 2015. The Company has made changes to the
perubahan nilai nominal saham (stock split) nominal value shares (stock split) from IDR
dari Rp1.000,- setiap saham menjadi Rp100,- 1,000 per share to IDR 100 per share, so that
setiap saham, sehingga jumlah saham yang the number of shares issued was originally
ditempatkan semula 52.016.000 saham 52,016,000 shares to 520,160,000 shares.
menjadi 520.160.000 saham.
Setelah Perseroan melakukan stock split After the Company's stock split at a ratio of
dengan rasio 1:10 pada tanggal 2 September 1:10 on 2 September 2015, the Company's
2015 Perseroan mencatatkan seluruh originally listed 52,016,000 shares had
sahamnya semula 52.016.000 saham menjadi changed to 520,160,000 shares.
520.160.000 saham.
Dan akta terakhir Perseroan telah menyusun And the latest deed of the company has
kembali seluruh perubahan Anggaran Dasar rearranged all amendments to the Articles of
dalam rangka penyesuaian dengan POJK Association in order to comply with POJK
No.15/POJK.04/2020 tentang rencana dan No.15/POJK.04/2020 concerning plans and
Penyelenggaraan RUPS Perusahaan Terbuka holding of Public Company GMS and POJK
dan POJK No.16/POJK.04/2020 tentang No.16/POJK.04/2020 concerning
Pelaksanaan RUPS Perusahaan Terbuka secara Implementation of Electronic Public Company
Elektronik dan POJK No.14/POJK.04/2019 GMS and POJK No.14/POJK.04/2019
tentang Perubahan atas POJK No. concerning Amendments to POJK No.
32/POJK.04/2015 tentang Penambahan Modal 32/POJK.04/2015 concerning Additional Capital
Perusahan Terbuka dengan memberikan hak for Public Companies by granting pre-emptive
memesan efek terlebih dahulu dengan akta rights by deed No. 40 dated 25 August 2021,
No.40 tanggal 25 Agustus 2021, dihadapan before Fathiah Helmi SH, Notary in Jakarta and
Fathiah Helmi SH, Notaris di Jakarta dan telah has received approval from the Minister of
mendapat persetujuan dari Menteri Hukum dan Human Rights and Human Rights of the
Hak Asasi Manusia Republik Indonesia dengan Republic of Indonesia with No. AHU-AH.01.03-
No.AHU-AH.01.03-040654 tanggal 14 Oktober 040654 dated 14 October 2021.
2021.
Pada tanggal 27 Desember 2018 berdasarkan On December 27, 2018 based on deed No.77
akta No.77 yang dibuat dihadapan Fathiah made before Fathiah Helmi SH, notary in
Jakarta, the Company has capitalized the debt
Helmi SH, notaris di Jakarta, Perseroan telah
of PT Singa Purwakarta Jaya into a capital of
mengkapitalisasi hutang PT Singa Purwakarta
59,800 shares or IDR 59,800,000,000, - so that
Jaya menjadi modal sebanyak 59.800 saham the share ownership in the subsidiary is
atau Rp59.800.000.000,- sehingga pemilikan 99.998% .
saham di anak Perusahaan 99,998%.

Kegiatan Usaha
Business Operations
Sebagai perusahaan manufaktur yang berfokus As a manufacturing company that focuses on

pada fabrikasi berbahan baku baja, kegiatan steel-based fabrication, the Company's
usaha Perseroan dimulai dengan memproduksi business activities began by producing office
peralatan perkantoran dilanjutkan dengan equipment, followed by producing warehousing
memproduksi peralatan pergudangan, kanal ‘C’, equipment, 'C' channels, building materials and
bahan bangunan dan konstruksi, peralatan construction, hospital equipment, safes and
rumah sakit, brankas dan peralatan pengaman security equipment.
(Safe & Security Equipment).
Seiring perkembangan pasar, Perseroan terus As the market developed, the Company
berinovasi dan melakukan ekspansi usaha continued to innovate and expand its
dengan memproduksi dan menjual produk business by producing and selling Steel Fire
Steel Fire Door, Cable Support System, Racking Door, Cable Support System, Racking System
System dan yang paling terbaru melakukan products and most recently collaborating
kerjasama dengan perusahaan multinasional with multinational companies by developing
dengan mengembangkan produk Baggage Baggage Handling System (BHS) products.
Handling System (BHS). Pengelompokkan The current products made by the Company
produk Perseroan saat ini dapat dilihat di can be seen on page 52.
halaman 52.
Untuk mendukung kegiatan usaha Perseroan, To support the Company's business activities,
Perseroan memiliki pabrik di Jakarta dengan the Company has a plant in Jakarta with an
area seluas 37.130 m2 dengan luas bangunan area of 37,130 m2 and a building area of around
sekitar 28.500 m2. Pada tahun 2007, Perseroan 28,500 m2. In 2007, the Company bought
membeli gudang di West Gate, Sidoarjo, Jawa a warehouse in West Gate, Sidoarjo, East
Timur dengan luas 544 m2. Pada tahun 2014 Java with an area of 544 m2. In 2014, the
Perseroan membeli 2 ruko di Kahuripan Company bought 2 shophouses in Kahuripan
Nirwana Sidoarjo, Jawa Timur sebagai kantor Nirwana Sidoarjo, East Java as a marketing
pemasaran. office.
Pada tahun 2014, Perseroan melakukan In 2014, the Company expanded by renting a
ekspansi dengan menyewa pabrik seluas 12,411 m2 factory in the LION Purwakarta
12.411 m2 di Kawasan Industri LION Industrial Area, from PT Singa Purwakarta
Purwakarta, dari PT Singa Purwakarta Jaya Jaya which is a subsidiary of the Company.
yang merupakan anak perusahaan dari In 2017, the factory which was originally in
Perseroan. Kemudian pada tahun 2017 pabrik Ngaban Village, Tangulangin District, Sidoarjo,
yang semula di Desa Ngaban Kecamatan East Java was moved to Popoh Village,
Tangulangin, Sidoarjo, Jawa Timur di Wonoayu District, Sidoarjo, East Java by
pindahkan ke Desa Popoh Kecamatan Wonoayu, renting from an affiliated company, namely
Sidoarjo Jawa Timur dengan menyewa dari PT Lionmesh Prima Tbk with an area of 3,742
perusahaan afiliasi yaitu PT. Lionmesh Prima m2, by moving the factory to Wonoayu,
Tbk seluas 3.742 m2, dengan berpindahnya the warehouse at West Gate has transferred
pabrik ke Wonoayu maka gudang yang ada di its activities to Wonoayu.
West Gate dialihkan kegiatannya ke Wonoayu.

Perseroan berkomitmen untuk terus The Company is committed to continuing to
mengembangkan produk-produk baru yang develop new innovative products and improve
inovatif dan meningkatkan operasional its business operations so that it can be
usahanya agar dapat bersaing di pasar dan competitive in the market and continue to
terus memberikan kontribusi bagi sektor contribute to the national industrial sector and
industri nasional dan keberlangsungan the sustainability of the company.
perusahaan.
Entitas Anak
Subsidiaries
Nama
PT SINGA PURWAKARTA JAYA
Name
Lokasi Kawasan Industri Jl. Raya Sadang Subang KM 12,5

Industrial Estate Location Purwakarta 41181 Jawa Barat
Bidang Usaha Perdagangan Umum / Trading

Line of Business Kawasan Industri / Industrial Estate
Status Tahap pengembangan

Status Development stage
Total Aset Entitas Anak

Rp116.560.099.238,-
Subsidiary’s Total Assets
Kepemilikan
99,998%
Ownership
Alamat
Jl. Raya Bekasi KM 24,5 Jakarta 13910
Address

Kronologis Pencatatan Saham
Chronology of Share Listing
Perubahan
Tanggal Total Saham
Tindakan Korporasi Jumlah Saham
Pencatatan Total No. of
Corporate Action Change in No.
Date of Listing Shares
of Shares
- IPO 3.000.000
20-08-1993 - Partial Listing 2.501.000 5.501.000
Pembagian Dividen Saham dan Saham Bonus dari

agio saham dengan ratio 4:1
2.750.500 8.251.500
23-04-1996 Stock Dividends and Bonus Shares at the ratio of
4:1 raising paid up capital stock
Penawaran Umum Terbatas I dengan ketentuan 3
saham lama mendapat 5 hak dengan harga Rp1.000,-
per saham
10-07-1996 13.752.500 22.004.000
The First Limited Public Offering of Rights on the basis
that every 3 existing shares will be entitled to rights to
purchase 5 shares at Rp1,000 per share
03-11-1997 Company Listing 30.012.000 52.016.000
Pemecahan Saham dengan rasio 1:10, dari nilai

nominal saham Rp1.000,- per saham menjadi Rp100,-
per saham
02-09-2015 468.144.000 520.160.000
Stock Split at the ratio of 1:10, the nominal share
value of Rp1,000 per share was changed to Rp100 per
share
Informasi Pemegang Saham

Shareholders Information
Komposisi Pemegang Saham Shareholder Composition
Jumlah Saham yang

Pemegang Saham % Pemilikan
Dimiliki
Shareholders % Ownership
No. of Shares Held
Kepemilikan di atas 5% / Ownership above 5%

Lion Holdings Sdn. Bhd., Kuala Lumpur 150.060.000 28,85
Lion Holdings Pte. Ltd., Singapore 150.060.000 28,85
Direksi / Director
Cheng Yong Kim 690.000 0,13
Lim Tai Pong 630.000 0,12
Ir. H. Krisant Sophiaan MSc 10.000 0,00
Tjoe Tjoe Peng/Lawer S 5.000 0,00
Kepemilikan di bawah 5% / Ownership below 5%

Badan Usaha / Commercial Organization 73.741.900 14,18
Perorangan / Individuals 144.638.100 27,81
Lain-Lain / Others 325.000 0,06
Total 520.160.000 100,00

Pemegang Saham Utama dan Pengendali
Primary and Controlling Shareholders
Cheng Family
Lion Holdings Sdn, Bhd, Lion Holdings Pte, Ltd, Masyarakat / Public
28,85 % 28,85 % 42,30 %
PT Lion Metal Works Tbk

99,998%
PT Singa Purwakarta Jaya
Komposisi Pemilik Efek

Shareholder Composition
Pemegang Saham Jumlah Saham Kepemilikian

Shareholders Number of Shares Ownership
Kepemilikan Institusi Lokal / Ownership by Local Institutions
Perorangan / Individual 30.131.200 5,79%
Perusahaan Terbatas / Limited Company 5.974.600 1,15%

Koperasi / Cooperative 300.000 0,06%
Asuransi / Insurance 25.000 0,00%
Sub Total 36.430.800 7.00%
Kepemilikan Institusi Asing / Ownership by Foreign Institutions
Perorangan / Individual 115.841.900 22,27%

Badan Usaha / Foreign Company 367.887.300 70,73%
Sub Total 483.729.200 93,00%
Total 520.160.000 100,00%

Wilayah Operasi
Operational Area
Jumlah Karyawan
Alamat
Pabrik Total Employees
Address
Plant (orang / person)
Jl. Raya Bekasi KM 24,5 (Cakung)

Jakarta 747
Jakarta Timur 13910
Desa Popoh RT 05 RW 01, Kecamatan Wonoayu

Sidoarjo 169
Sidoarjo 61261, Jawa Timur
Jl. Raya Sadang – Subang KM 12,5

Purwakarta Desa Cilandak, Kecamatan Cibatu 133
Purwakarta 41181, Jawa Barat
Organisasi dan Asosiasi

Organizations and Associations
Nama Asosiasi Alamat Posisi

Name of Association Address Position
AEI Gedung Permata Kuningan Lt. 20 Anggota Biasa

Jl. Kuningan Mulia, Kav. 9C
Asosiasi Emiten Indonesia Member
Guntur, Setiabudi
Indonesian Public Listed Companies Association Jakarta Selatan 12980
ICSA Epicentrum Walk Office Building, Anggota Biasa
Indonesian Corporate Secretary Association Level 5th Suite A509 Member
Jl. HR Rasuna Said Kuningan,
Epicentrum Area
Jakarta 12960
KADIN Anggota Biasa
Menara Kadin Indoneisa
Kamar Dagang dan Industri Indonesia Member
Jl. HR Rasuna Said X-5 Kav 2-3
Indonesian Chamber of Commerce and Jakarta 12950
Industry
AP4K Anggota Biasa

Asosiasi Pengadaan Pemeliharaan Jl. Ir. H. Juanda Raya Member
Perlengkapan Pegawai dan Kantor No. 5B Lt 4
Association for Procurement, Maintenance, Jakarta Pusat 10120
Office and Office Supplies
ARDIN INDONESIA Anggota Biasa

Jl. Imam Bonjol No.61, Cikini
Asosiasi Rekanan Pengadaan Barang dan Member
Jakarta Pusat, DKI Jakarta 10310
Distributor Indonesia
Jl. Tanah Abang I No. 12 DD
Association of Indonesian Procurement Jakarta Pusat 10160
Partners and Distributors
APTEK Anggota Biasa

IKA BUILDING Komp. Duta Merlin Member
Asosiasi Perusahaan Teknik Mekanikal dan
Blok B 31-32
Elektrikal
Jl. Gajah Mada No. 3-5
Association of Mechanical and Electrical Jakarta Pusat, DKI Jakarta 10160
Engineering Companies

Struktur Organisasi
Organization Structure

Sumber Daya Manusia
Human Resources
Kinerja Perseroan terkait erat dengan kualitas The Company’s performance is tied closely to
sumber daya manusianya. Oleh karena itu, the quality of its human resources. Therefore,
Perseroan bertujuan untuk mengelola dan the Company aims to manage and develop its
mengembangkan sumber daya manusianya human resources efficiently and professionally.
secara efisien dan profesional.
A. Rekrutmen A. Recruitment
Karyawan merupakan aset jangka panjang Employees are important long-term assets in
yang penting di perseroan. Untuk itu, perseroan the Company. Therefore, the Company has a
memiliki proses rekrutmen formal untuk formal recruitment process to recruit
merekrut orang-orang yang berkompeten. competent people.
Dalam melakukan proses rekrutmen, perseroan In carrying out the recruitment process, the
memiliki kriteria tersendiri mengenai lowongan company has its own criteria for available jobs
pekerjaan yang tersedia yang harus terpenuhi that must be met (job specifications). The
(spesifikasi jabatan). Proses rekrutmen employee recruitment process encompasses
pegawai mencakup beberapa factor, seperti several factors, such as the character of the
karakter calon, latar belakang pendidikan, skill candidate, educational background, skills, and
yang dimiliki, serta kecerdasan intelektual. intellectual intelligence.
Dalam rangka memenuhi setiap kebutuhan In order to meet every human resource need,
SDM, Departemen Human Capital menyeleksi the Human Capital Department selects
setiap calon kandidat dari berbagai level prospective candidates from various levels of
pendidikan baik SMK, D3 maupun S1 yang akan education, both Senior High School, Diploma
bergabung ke Perseroan, baik dari hasil Degree and Bachelor Degree who will join the
Psikotes, Intervew dan juga Medical Cek Up. Company, both from the results of
Psychological Tests, Interviews and Medical
Check Up.
Dalam proses rekrutmen Perseroan lebih In the recruitment process, the Company
mengutamakan tenaga kerja di sekitar lokasi prioritizes workers around the Company's
Perseroan, baik di Jakarta, Purwakarta maupun locations, both in Jakarta, Purwakarta and
Surabaya tentunya penyeleksian calon tenaga Surabaya, provided that the selection of
kerja harus sesuai dengan spesifikasi dan prospective workers is in accordance with the
kualifikasi yang memenuhi standar yang specifications and qualifications that meet the
ditetapkan. standards set.
Disamping itu, Perseroan juga bekerjasama In addition, the Company also cooperates with
dengan Balai Latihan Kerja (BLK), Disnaker, Job Training Centers (BLK), Manpower Office,
Perguruan Tinggi maupun media job portal Universities and online job portal media in
online dalam mencari kandidat-kandidat yang finding qualified candidates.
berkualitas.
B. Pelatihan dan Pengembangan B. Training and Development
Perseroan menekankan pentingnya The Company places importance on continuous

pembelajaran berkelanjutan bagi karyawan learning for employees to learn and acquire new
untuk belajar dan memperoleh keterampilan skills. The continuous learning is done through
baru. Pembelajaran berkelanjutan dilakukan training and development opportunities within
melalui kesempatan pelatihan dan the Company.
pengembangan di dalam Perseroan.

Dalam rangka meningkatkan skill, kompetensi In order to improve skills, competencies and
dan menambah wawasan karyawan, Perseroan increase employee knowledge, the Company
memberikan pelatihan-pelatihan beikl secara provides in-house training (internal training),
in-house training (internal training), maupun as well as face-to-face and/or virtual external
eksternal training secara tatap muka dan atau training. The training programs that have been
virtual. Adapun program Training yang telah implemented by the Company are shown on
dilaksanakan Perseroan dapat dilihat pada page 23.
halaman 23.
C. Kompensasi dan Manfaat C. Compensation and Benefits
Kompensasi dapat diberikan kepada karyawan Compensation can be given to employees in the
dalam bentuk moeneter upah atau manfaat form of monetary (wages) or non-monetary
non-moneter. benefits.
Perseroan memberikan kompensasi berupa The Company provides monetary compensation

Upah (Gaji), untuk karyawan baru atau kontrak in the form of Wages (Salary), for new
sesuai dengan standar peraturan Upah employees or contract staff in accordance with
Minimum, sedangkan untuk karyawan tetap the standard Minimum Wage regulations. For
diperhitungkan sesuai dengan kenaikan gaji permanent employees, it is calculated
(upah) berkala tiap tahunnya. Disamping itu according to periodic salary increases (wages)
perseroan juga memberikan Tunjangan Hari every year. Besides that, the company also
Raya (THR) dengan ketentuan untuk masa provides holiday allowances (THR) with
kerja lebih dari 1 tahun mendapatkan satu provisions for working period of more than 1
bulan upah dan dibawah 1 tahun dihitung year getting one month's wages and under 1
secara proporsional. Sementara untuk bonus, year calculated proportionally. Bonuses are also
dilihat dari kinerja karyawan maupun kinerja given based on the performance of employees
dari perseroan. Karyawan juga mendapatkan and the performance of the company.
kompensasi cuti panjang tahun ke tujun Employees also receive compensation for long
(berlaku untuk kelipatannya) berupa ½ bulan leave for the seventh year (applies to multiples)
gaji sebagai bentuk penghargaan masa in the form of ½ month's salary as a form of
kerjanya. appreciation for their long service.
Dalam hal manfaat non-moneter, karyawan Examples of non-monetary benefits employees

dimasukkan ke dalam BPJS Kesehatan maupun receive include BPJS Health and BPJS
BPJS Ketenagakerjaan, Kendaraan Inventasris Employment, vehicles for Managerial Level
bagi Jabatan Level Manajerial, Penghargaan Positions, long service awards for employees
masa kerja bagi karyawan serta Tour Karyawan. and Employee Tours.
D. Hubungan Industrial D. Industrial Relations
Hubungan industri (industrial relation) adalah Industrial relations is a form of formal and
bentuk hubungan formal maupun informal yang informal relations that occur between
terjadi antara pemberi kerja dan pekerja. employers and workers.
Unit Kerja industrial relation harus memastikan The industrial relations Work Unit must ensure
kepatuhan terhadap peraturan perusahaan dan compliance with company and government
pemerintah terkait ketenagakerjaan dan regulations related to manpower and maintain
menjaga hubungan baik antara karyawan dan a good relationship between the employees and
Perseroan untuk menciptakan lingkungan kerja the Company to create a conducive work
yang kondusif untuk semua pihak. environment for all parties.

Perseroan dalam hal ini telah menjalankan The Company in this case has carried out
kerjasama secara eksternal dengan dinas cooperation externally with the Manpower
tenaga kerja terkait dengan peraturan- Office related to labor regulations,
peraturan ketenagakerjaan, wajib lapor mandatory employment reports and
ketetenagakerjaan maupun mengikuti seminar- attending seminars or workshops related to
seminar atau workshop terkait employment. Law No. 13 of 2003 concerning
ketenagakerjaan. UU No.13 tahun 2003 employment as well as the Job Creation Law
tentang ketenagakerjaan maupun Undang- No. 11 of 2020 and its derivative regulations
Undang Cipta Kerja No.11 tahun 2020 beserta form the basis/foundation of industrial
peraturan turunannya menjadi dasar / relations between companies and employees.
landasan hubungan industrial antara perseroan
maupun karyawan.
Dalam internal perseroan sendiri, dengan Within the company itself, with the existence of
adanya serikat pekerja (SPSI) diharapkand a workers' union (SPSI) it is hoped that a
apat terjalin hubungan yang harmonis antara harmonious relationship can be established
perseroan dan karyawan untuk itu telah dibuat between the company and employees for this
Perjanjian Kerja Bersama yang mana di reason a Collective Labor Agreement has been
dalamnya tercantum peraturan-peraturan yang drawn up in which regulations are stated in
sesuai dengan undang undang accordance with applicable labor laws.
ketenagakerjaan yang berlaku.
Pada tahun 2022 Perseroan memiliki SDM In 2022 the Company has 1,049 human
sebanyak sebanyak 1.049 orang, yang terdiri resources, consisting of 753 permanent
dari 753 karyawan tetap, 263 karyawan employees, 263 contract employees and 33
kontrak dan 33 karyawan honorer. Komposisi honorary employees. The composition of the
SDM Perseroan berdasarkan level jabatan, Company's human resources based on position
tingkat pendidikan dan usia adalah sebagai level, education level and age is as follows:
berikut :
The composition of the Company's human
Komposisi SDM Perseroan berdasarkan level resources is based on position level, education
jabatan, tingkat pendidikan, usia. level, age.
2022 2021
Berdasarkan Status / Based on Status

Karyawan Tetap 753 785 Permanent Employee
Karyawan Kontrak 263 167 Contract Employee
Karyawan Honorer 33 24 Honorary Employee
1049 976
Berdasarkan Wilayah / Based on Region

Jakarta 747 676 Jakarta
Sidoarjo 133 136 Sidoarjo
Purwakarta 169 164 Purwakarta
1049 976
Berdasarkan Jenis Kelamin / Based on Gender

Laki-Laki 1004 927 Male
Perempuan 45 49 Female
1049 976

2022 2021
Berdasarkan Jabatan / Based on Position

Manajer 32 31 Manager
Supervisor 44 49 Supervisor
Staf 168 168 Staff
Pegawai 805 728 Worker
Berdasarkan Pendidikan / Based on Education

Pascasarjana 3 3 Postgraduate
Sarjana 117 117 Graduate
Diploma 67 66 Diploma
SLTA 852 777 Senior High School
SLTP 10 13 Junior High School
Berdasarkan Usia / Based on Age

> 45 Tahun 195 286 > 45 Years
30 – 45 Tahun 481 483 30 – 45 Years
< 30 Tahun 373 207 < 30 Years
2021 2022
24 33
167 263
785 753
K. Tetap K. Kontrak K. Honorer K. Tetap K. Kontrak K. Honorer
2021 2022
164 169
133
136
676 747
Jakarta Sidoarjo Purwakarta Jakarta Sidoarjo Purwakarta

Pelatihan dan Pengembangan Training and Development
Tahun 2022, departemen HC (Human Capital) In Year 2022, the HC (Human Capital)
melakukan berbagai program pelatihan department conducted employee training
karyawan melalui program training sebagai through various training programs as follows:
berikut:
Tanggal Training Pengelola

Date Training Organizer
Eksternal Training
15-01-2022 Internal Auditor Sistem K3 (ISO 45001 & SMK3 PP50) PT. Bank Syariah
16-01-2022 OHS System Internal Auditor (ISO 45001 & SMK3 PP50) Indonesia
Menyusun Alat Test untuk Rekrutmen

13-01-2022 City Training
Develop Test Tools for Recruitment
08-03-2022
Penanggung Jawab Pengendali Pencemaran Air (PPPA) Bina Lindung
-
Person in Charge of Controlling Water Pollution (PPPA) Indonesia
10-03-2022
Bimbingan Teknik Pemahaman Pembacaan & Justifikasi Hasil
16-03-2022
Kalibrasi Alat Ukur Dimensi Balai Sertifikat
-
Technical Guidance on Reading Understanding & Justification Industri
18-03-2022
of Calibration Results for Dimensional Measuring Instruments
Manajemen Pergudangan
Warehousing Management
Profesional Pengembangan Organisasi Bersertifikat

07-04-2022 Ieeel institute
Certified Organization Development Profesional
Pelatihan Administrasi Personalia Muhammad

09-04-2022
Personnel Administrasi Training Syahrul
Pelatihan Teknik Wawancara Berbasis Perilaku (BEI)

Behavior-Based Interview Technique (BEI) Training
27-09-2022
Finnon: Memahami Laporan Keuangan
- PPM Manajemen
Finnon: Understanding Financial Statement
29-09-2022
Manajemen Rantai Persediaan
16-10-2022 Kaweroo Institute
Supply Chain Management
Manajer SDM BNSP

HR Manager BNSP
Fundamental Leadership
Leadership Fundamentals
Menyusun Perangkat Asesmen untuk Promosi

Develop Assessment Tools for Promotion
Internal Training
Training Internal Audit ISO 9001:2015
16-03-2022 SMRC Dept
ISO 9001:2015 Internal Audit Training
20-07-2022 Sosialisasi P3K
HC Dept
27-07-2022 First Aid Outreach
12-09-2022 Sosialisasi Forklift
HC Dept
19-09-2022 Forklift Outreach
12-10-2022 Membangun Konsep Diri yang Positif dalam Bekerja

HC Dept
13-10-2022 Building a Positive Self-Concept at Work

Sertifikasi
Certification
SGS
ID04/00390
ISO 9001:2015
Sertifikat Sistem Manajemen Mutu untuk
Pabrik Jakarta dan Purwakarta
Quality Management System Certificate for
Jakarta and Purwakarta Factory
26-12-2018 s/d 19-12-2021
PT TUV Rheinland Indonesia

No. 824 104 21017
SNI ISO 14001:2015
Sertifikat Sistem Manajemen Lingkungan

untuk Pabrik Jakarta
Environmental Management System Certificate
for Jakarta Factory
27-07-2022 s/d 26-07-2025
SGS
ID21/05847
ISO 45001:2018
Sertifikat Sistem Manajemen Keselamatan

& Kesehatan Kerja (SMK3) untuk Pabrik
Jakarta
Occupational Health & Safety Management
System Certificate (SMK3) for Jakarta Factory
06-09-2021 s/d 06-09-2024
Sertifikat UL
(Underwriters Laboratories)
Amerika Serikat
Untuk produk pintu besi tahan api

For fire resistant door products

Balai Sertifikat Industri
Institute for Industrial Certification
No. 074/S/Pro/B/III/2019
SNI 0908 : 2007
Rak Baja Tunggal

Steel Slotted Angle Rack
Berlaku sampai dengan 13-3-2023
SNI 12-0149 - 1987
Lemari Kantor Berpintu Dua dari Baja

Steel Cabinets
SNI 12-0150 - 1987
Lemari Arsip Perkantoran dari Baja

untuk Kantor
Steel Office Filling Cabinet
Hasil Uji Produk

Product Test Result
Instansi Tanggal Keterangan

Instance Date Description
Pemerintah Provinsi DKI Jakarta 30-01-2020 Laporan Hasil Uji :
Dinas Penanggulangan Kebakaran dan Penyelamatan Pintu Tahan Api
No. 12/LHU/I/2020 s/d / until
30-01-2023 Report on Test Result
DKI Jakarta Provincial Government
No. 12/LHU/I/2020 Fireproof Door
The Fire and Rescue Service

Hasil Uji Produk dari PT Sucofindo (Persero)
Product Test Result from PT Sucofindo (Persero)
Instansi Tanggal Keterangan

Instance Date Description
Laporan No.12150/FNBPAO 12-04-21 Lemari Arsip Perkantoran dari Baja untuk Kantor L.42/F-2
Steel Office File Cabinet for Office L.42/F-2
SNI 12-0150-1987
SNI 12-0150-1987
SNI 12-0150-1987
Laporan No.12160/FNBPAO 12-04-21 Lemari Berpintu Dua dari Baja L33

Wardrobe with Two Doors from Steel L33
SNI 12-0149-1987
Laporan No.12162/FNBPAO 12-04-21 Lemari Berpintu Dua dari Baja L33A

Wardrobe with Two Doors from Steel L33A
SNI 12-0149-1987
Laporan No.12164/FNBPAO 12-04-21 Lemari Berpintu Dua dari Baja L31

Wardrobe with Two Doors from Steel L31
SNI 12-0149-1987
Laporan No.12166/FNBPAO 12-04-21 Rak Baja Tunggal L.705 Kelas II

L.705 Class II Single Steel Rack
SNI 0908-2007
Laporan No.12167/FNBPAO 12-04-21 Rak Baja Tunggal L.705 Kelas I

L.705 Class I Single Steel Rack
SNI 0908-2007
Laporan No.12169/FNBPAO 12-04-21 Rak Baja Tunggal L.704 Kelas III

L.705 Class III Single Steel Rack
SNI 0908-2007
Lembaga dan Profesi Penunjang Pasar Modal

Institutions and Capital Market Support
Kustodian
Custodian
Nama Lembaga/Profesi
PT Kustodian Sentral Efek Indonesia
Name of Institution
Gedung Bursa Efek Indonesia, Tower I, Lantai 5
Alamat
Jl Jend. Sudirman Kav 52-53
Address Jakarta Selatan 12190 Indonesia
Telp +62-21 515 2855
Fax +62-21 5299 1199

Periode Penugasan
2022
Engagement Period

Biro Administrasi Efek
Securities Administration Bureau
PT Raya Saham Registra
Name of Institution
Gedung Plaza Sentral Lt. 2
Alamat
Jl Jend. Sudirman Kav 47-48
Address Jakarta 12930, Indonesia
Telp +62-21 2525 666
Fax +62-21 2525 028
Periode Penugasan
2022
Engagement Period
Notaris
Notary
Fathiah Helmi SH
Name of Institution
Graha Irama Lt. 6 c
Alamat
Jl. HR Rasuna Said Blok X-1 Kav 1&2
Address Kuningan, Jakarta Selatan 12950, Indonesia
Telp +62-21 5290 7304-6
Fax +62-21 5261 136
Periode Penugasan
2022
Engagement Period
Kantor Akuntan Publik

Public Accounting Firm
Kosasih, Nurdiyaman, Mulyadi, Tjahjo & Rekan
Name of Institution
Cyber Tower 2, lantai 20
Alamat Jl. H.R. Rasuna Said Blok X-5
Address Jakarta Selatan 12950, Indonesia
Telp +62-21 2553 9200
Fax +62-21 2553 9298
Periode Penugasan
2022
Engagement Period
Advocat & Konsultan Hukum

Advocate & Legal Consultant
FR and H Law Firm
Name of Institution
Alamat Jl. Kemang Selatan X No. 8P
Address Jakarta Selatan 12730, Indonesia
Telp +62 818-0849-0975
Periode Penugasan Berdasarkan kasus

Engagement Period By case
Tahun 2022, total jasa atas lembaga dan In Year 2022, the total remuneration for
profesi penunjang pasar modal tersebut services provided by capital market support
adalah sebesar Rp668,78 juta. professional institutions and professionals
amounted to Rp668.78 million.

LAPORAN MANAJEMEN
Management Report

“ Di tahun 2022, Direksi telah
menetapkan beberapa kebijakan
strategis untuk meningkatkan
“ In 2022, the Board
kinerja keuangan Perseroan …..
of Directors has set
several strategic policies
..… Perseroan akan terus to improve the
mengupayakan dan
Company’s financial
performance …..
menyempurnakan kebijakan
strategis tersebut di tahun 2023 ”.
..… The Company will
continue working on and
improving on these
strategic policies in
2023 ”.
Cheng Yong Kim

President Director

Laporan Direksi
Board of Directors’ Report
Pemegang Saham dan Pemangku Kepentingan Dear Shareholders and Stakeholders,

yang Terhormat,
Atas nama Direksi PT Lion Metal Works Tbk. On behalf of the Board of Directors of PT Lion
kami mengucapkan terima kasih dan Metal Works Tbk, we would like to express our
penghargaan yang sebesar-besarnya kepada deepest gratitude and appreciation to our
pemegang saham dan pemangku kepentingan shareholders and stakeholders for their trust
atas kepercayaan dan dukungannya. Bersama and support. We hereby submit an
ini kami sampaikan laporan accountability report on the Company's
pertanggungjawaban atas kinerja Perseroan performance in 2022, which was an
selama tahun 2022 yang mengalami improvement over 2021.
peningkatan dibandingkan tahun 2021.
Tinjauan Perekonomian Economic Review
Pada tahun 2022, ekonomi global tumbuh In 2022, the global economy grew at 3.4%,
sebesar 3,4%, lebih lambat dari tahun 2021 slower than 6.1% in 2021. The slower growth
sebesar 6,1%. Pertumbuhan yang lebih lambat in 2022 was due to increased caution in
pada tahun 2022 disebabkan meningkatnya business sentiment from major geopolitical
kehati-hatian dalam menghadapi peristiwa events and poor macroeconomic conditions. For
geopolitik utama dan kondisi ekonomi makro example, the Russia-Ukraine war disrupted
yang kurang baik. Misalnya, perang Rusia- global supply chains and caused energy prices
Ukraina mengganggu rantai pasokan global dan to spike. The Covid-Zero policy in China for
menyebabkan harga energi melonjak. most of 2022 also disrupted supply chains and
Kebijakan Covid-Zero di China untuk sebagian contributed to higher raw material prices and
besar tahun 2022 juga mengganggu rantai higher inflation globally. Central banks have
pasokan dan berkontribusi pada harga bahan responded by tightening policy and raising rates
baku yang lebih tinggi dan inflasi yang lebih to combat inflation, which has also reduced
tinggi secara global. Bank-bank sentral liquidity in the capital markets.
merespon dengan pengetatan kebijakan dan
menaikkan suku bunga untuk melawan inflasi,
yang juga mengurangi likuiditas di pasar modal.
Di Indonesia, PDB tumbuh sebesar 5,31% In Indonesia, GDP grew at 5.31% in 2022,
pada tahun 2022, lebih baik dari tahun 2021 faster than 2021 due to strong growth in
sebesar 3,69%, terutama didorong oleh commodity exports. Commodities such as coal
pertumbuhan ekspor komoditas yang kuat. and nickel experienced a huge price surge in
Komoditas seperti batu bara dan nikel 2022 as demand for these commodities grew in
mengalami lonjakan harga yang besar pada the wake of a shortage of energy in Europe and
tahun 2022 karena permintaan untuk stronger demand for nickel components for
komoditas ini tumbuh setelah kekurangan electric vehicle batteries.
energi di Eropa dan permintaan komponen
nikel yang lebih kuat untuk baterai kendaraan
listrik.
Harga bahan baku yang lebih tinggi secara Higher raw material prices globally contributed
global berkontribusi terhadap pertumbuhan to growing inflation in Indonesia in 2022.
inflasi di Indonesia pada tahun 2022. Inflasi Inflation grew from around 2% at the start of
meningkat dari sekitar 2% pada awal tahun, the year to around 5%, hitting a peak of 5.95%
mencapai puncaknya sebesar 5,95% pada in September 2022 when the Government
bulan September 2022 dimana Pemerintah increased the price of fuel and decreased to
menaikkan harga bahan bakar minyak dan 5.51% in December 2022.
kembali turun menjadi 5,51% pada Desember
2022.

Kebijakan Strategi Strategic Policies
Di tahun 2022, Direksi telah menetapkan In 2022, the Board of Directors had set several
beberapa kebijakan strategis untuk strategic policies to improve the Company’s
meningkatkan kinerja keuangan Perseroan. financial performance. One of the plans was to
Diantaranya adalah mengembangkan dan develop and grow the Company’s products and
meningkatkan produk dan pangsa pasar market share through identifying potential new
Perseroan melalui identifikasi calon pelanggan customers in fast-growing industries where
baru di industri yang berkembang pesat di there are new private sector or government
mana terdapat investasi baru dari sektor investments. Another plan was to grow sales
swasta atau pemerintah. Rencana lainnya from existing customers through cross-selling
adalah meningkatkan penjualan dari pelanggan of the Company’s products. The Company is
yang sudah ada melalui cross-selling produk also focusing on cashflow management and
Perseroan. Perseroan juga berfokus pada reviewing its internal processes for collecting
manajemen arus kas dan meninjau proses receivables from customers.
internal untuk mengumpulkan piutang dari
pelanggan.
Perseroan akan terus mengupayakan dan The Company will continue working on and
menyempurnakan kebijakan strategis tersebut improving on these strategic policies in 2023.
di tahun 2023.
Kinerja Keuangan 2022 Achievements in 2022
Perseroan mencapai penjualan sebesar The Company achieved sales of Rp408.81

Rp408,81 miliar pada tahun 2022, naik 36,14% billion in 2022, 36.14% higher than 2021.
dari tahun 2021.
Laba kotor tahun 2022 meningkat 44,46% Gross profit for 2022 improved 44.46% to
menjadi Rp147,10 miliar, karena penjualan Rp147.10 billion, as overall sales increased. Net
secara keseluruhan meningkat. Laba bersih profit experienced a positive reversal to Rp2.31
mengalami pembalikan positif menjadi Rp2,31 billion in 2022, from a loss in 2021.
miliar di tahun 2022, dari rugi di tahun 2021.
Total aset Perseroan pada tahun 2022 sebesar The Company's total assets in 2022 was slightly
Rp684,50 miliar sedikit lebih rendah dari tahun lower than 2021 at at Rp684.50 billion, but total
2021, sedangkan total ekuitas sebesar equity was higher at Rp474.81 billion due to a
Rp474,81 miliar lebih tinggi dari tahun 2021 larger decrease in total liabilities.
karena penurunan total liabilitas yang lebih
besar.
Perbandingan Antara Hasil yang Dicapai Comparison Between Achieved Results

dengan yang Ditargetkan and Target
Realisasi penjualan Perseroan di tahun 2022 The Company’s actual sales in 2022 was
adalah sebesar Rp408,81 miliar, lebih tinggi Rp408.81 billion, 13.56% higher than the
13,56% dari target sebesar Rp360 miliar. target of Rp360 billion. However, net profit was
Namun laba bersih tercatat sebesar Rp2,31 Rp2.31 billion, 87.17% lower than the target of
miliar, lebih rendah 87,17% dari target sebesar Rp18 billion.
Rp18 miliar.

Kendala yang dihadapi Challenges Encountered
Meski pertumbuhan ekonomi Indonesia kuat, Although Indonesia’s economic growth is

ada beberapa sektor di Indonesia yang masih strong, there are certain sectors in Indonesia
menghadapi tantangan. Beberapa sektor which are still facing challenges. Some of these
tersebut, seperti sektor pengembangan sectors, such as the property development
properti dan sektor konstruksi masih belum sector and construction sector still have not
pulih sepenuhnya. Hal ini mengakibatkan recovered fully. This has resulted in weaker
melemahnya permintaan terhadap beberapa demand for some of the Company’s products
produk Perseroan seperti peralatan kantor dan such as office equipment and fire door. The
pintu besi. Perusahaan sedang berupaya Company is working on improving its products
meningkatkan produknya untuk segmen ini dan for these segments and is also closely
juga memantau dengan cermat kesehatan monitoring the financial health of the customers
keuangan pelanggan di segmen ini. in these segments.
Fluktuasi harga bahan baku selalu menjadi Fluctuations in raw material prices have always
tantangan dalam bisnis ini dan Perseroan terus been a challenge in this business and the
mencari sumber bahan baku yang kompetitif Company continues to seek competitively
dan masih mampu memenuhi kebutuhan priced raw material sources that are still able to
internal untuk menghasilkan produk berkualitas meet internal needs to produce high quality
tinggi, guna meningkatkan daya saing products, in order to increase the Company's
Perseroan. competitiveness.
Prospek Usaha Business Prospects
Ekonomi global diproyeksikan tumbuh sebesar The global economy is projected to grow by
2,9% pada tahun 2023 (IMF), lebih rendah dari 2.9% in 2023 (IMF), lower than 3.4% in 2022.
tahun 2022 sebesar 3,4%. Perlambatan The projected slowdown in growth is due to
pertumbuhan ini disebabkan oleh sentimen cautious business sentiment as the central
bisnis yang hati-hati karena bank sentral bank continues its tightening policy and raises
melanjutkan kebijakan pengetatan dan interest rates to fight inflation. The crisis that
menaikkan suku bunga untuk memerangi hit several banks in the US and Europe may
inflasi. Krisis yang menimpa beberapa bank di also exacerbate negative consumer sentiment.
AS dan Eropa juga dapat memperburuk
persepsi konsumen.
Pemerintah Indonesia menetapkan The Indonesian government has set economic

pertumbuhan ekonomi tahun 2023 sebesar growth for 2023 at 5.3%, higher than the
5,3%, lebih tinggi dari ekonomi global. Hal ini global economy. This is supported by private
didukung oleh konsumsi swasta, investasi dan consumption, investment and continued
tetap positifnya kinerja ekspor. Dengan positive export performance. With a better
peraturan yang lebih baik, investasi asing ke regulatory, foreign investment into Indonesia
Indonesia diharapkan tumbuh, terutama di is expected to grow, especially in commodity-
sektor pergudangan terkait komoditas dan e- related sectors, warehousing and e-commerce.
commerce. Proyek-proyek yang berjalan Growth in sectors related to infrastructure,
ditahun 2023, pertumbuhan sektor-sektor yang distribution and logistics will provide
berkaitan dengan infrastruktur, distribusi dan opportunities for the Company to capture new
logistik akan memberikan peluang kinerja orders in 2023.
Perseroan yang lebih baik ditahun 2023.
Penerapan Tata Kelola Corporate Governance
Sepanjang tahun 2022, Perseroan secara Throughout 2022, the Company has
konsisten menerapkan prinsip-prinsip tata consistently applied the principles of good
kelola perusahaan yang baik (GCG) corporate governance (GCG) based on the
berdasarkan prinsip transparansi, tenets of transparency, accountability,
akuntabilitas, tanggung jawab dan kewajaran. responsibility and fairness. The Company
Perusahaan percaya bahwa tata kelola believes that having good corporate
perusahaan yang baik memberikan struktur governance provides a structure in helping it
dalam membantu mencapai target achieve its financial targets.
keuangannya.

Apresiasi Appreciation
Atas nama Direksi, kami mengucapkan terima On behalf of the Board of Directors, we would
kasih kepada seluruh manajemen dan like to thank all management and employees
karyawan atas kerja kerasnya di tahun 2022. for their hard work in 2022. We also express
Kami juga menyampaikan apresiasi kepada our appreciation to our customers, business
pelanggan, mitra bisnis, dan pemegang saham partners and shareholders for their continued
atas kepercayaan dan dukungan yang terus trust and support. We also thank the Board of
diberikan. Kami juga berterima kasih kepada Commissioners for their supervision, advice
Dewan Komisaris atas pengawasan, nasihat and direction as we work to implement the
dan arahan mereka selama kami bekerja untuk strategic plans and grow the Company’s
mengimplementasikan rencana strategis dan business.
mengembangkan bisnis Perusahaan.
Jakarta, April 2023
Cheng Yong Kim

Direktur Utama / President Director

Cheng Yong Kim
Direktur Utama
President Director
Riwayat Jabatan
Professional Background
1983 – sekarang Direktur Utama PT Lion Metal Works Tbk

1995 – sekarang Direktur Pelaksana Group Lion Industries Corporation Bhd.
KEWARGANEGARAAN
2002 – sekarang Pemimpin Secom (Malaysia) Sdn. Bhd.
Citizenship
2013 – sekarang Direktur Malaysia Steel Insitute
2015 – sekarang Direktur PT Lion Superior Electrodes Singapore
2016 – sekarang Direktur GSI Malaysia Berhad
2016 – sekarang Direktur NTUC Fairprice Co-operative Ltd.
2022 – sekarang Penasehat Senior Lion Industrial Corporation Bhd.
1983 – Present President Director PT Lion Metal Works Tbk

1995 – Present Managing Director Group Lion Industies Corporation Bhd. TEMPAT, TANGGAL LAHIR
2002 – Present Chairman Secom (Malaysia) sdn. Bhd.
Place & Date of Birth
2013 – Present Director Malaysia Steel Insitute
2015 – Present Director PT Lion Superior Electrodes Singapore, 02-02-1950
2016 – Present Director GSI Malaysia Berhad
2016 – Present Director NTUC Fairprice Co-operative Ltd.
2022 – Present Senior Advisor Lion Industrial Corporation Bhd.
LEGAL/Legality
Pendidikan
RUPS, 15-07-2022
Education
Lulusan Bachelor of Business Administration (Honours) dari

University of Singapore.
Graduated with Bachelor of Business Administration (Honours)

degree from University of Singapore.
Hubungan Afiliasi
Affiliation
Beliau mempunyai hubungan keluarga dengan Komisaris Utama

(Cheng Yong Kwang) dan Direktur (Cheng Zhi Wei).
He is related to our President Commissioner (Cheng Yong Kwang) and

Director (Cheng Zhi Wei).

Lim Tai Pong
Direktur
Director
Riwayat Jabatan
KEWARGANEGARAAN
Citizenship
1988 – sekarang Direktur PT Lion Metal Works Tbk
Malaysia
1988 – Present Director PT Lion Metal Works Tbk
TEMPAT, TANGGAL LAHIR

Pendidikan Place & Date of Birth
Education
Pulau Pinang, 07-04-1950
Lulusan Al Masriyah English School di Penang dan Goon Institut
di Kuala Lumpur Malaysia
Graduated Al Masriyah English School in Penang and Goon Institute

Kuala Lumpur, Malaysia.
LEGAL/Legality
RUPS, 15-07-2022
Hubungan Afiliasi
Affiliation
Beliau tidak mempunyai hubungan keluarga dengan Dewan Komisaris

dan Direksi.
He has no family relations with any member of the Board of

Commissioners or the Board of Directors.

Ir. H. Krisant Sophiaan MSc
Direktur
Director
Riwayat Jabatan

1997 – sekarang Direktur PT Singa Purwakarta Jaya

1997 – Present Director PT Singa Purwakarta Jaya KEWARGANEGARAAN
Citizenship
Indonesia
Pendidikan
Education
Lulusan Belorussian Polytechnical Institute di Minsk, Rusia, dengan TEMPAT, TANGGAL LAHIR
gelar Master of Science di bidang Mechanical Engineering.
Graduated from the Belorussian Polytechnical Institute, in Minsk, Makasar, 23-07-1946
Russia, with a Master of Science degree in Mechanical Engineering.
Hubungan Afiliasi
Affiliation
LEGAL/Legality
RUPS, 15-07-2022
Beliau tidak mempunyai hubungan keluarga dengan Dewan Komisaris
dan Direksi.

Tjoe Tjoe Peng/Lawer Supendi

Tjoe Tjoe Peng / Lawer Supendi
Direktur
Director
Riwayat Jabatan
1985 – sekarang Direktur PT Bantrunk Murni Indonesia

1990 – sekarang Direktur Utama PT Lionmesh Prima Tbk
1999 – sekarang Direktur Utama PT Singa Purwakarta Jaya
2008 – sekarang Komisaris Utama PT Logam Menara Murni KEWARGANEGARAAN
2017 – sekarang Komisaris Utama PT Logam Angkasa Teknik Citizenship
Indonesia
1985 – Present Director PT Bantrunk Murni Indonesia
1990 – Present President Director PT Lionmesh Prima Tbk
1999 – Present President Director PT Singa Purwakarta Jaya
2008 – Present President Commissioner PT Logam Menara Murni
2017 – Present President Commissioner PT Logam Angkasa Teknik

Pendidikan Aek Kanopan, 24-11-1948
Education
Universitas Sumatra Utara, Fakultas Teknik Elektro dan

Technical College Singapore.
University of North Sumatra, Faculty of Electrical Engineering and

Technical College Singapore
LEGAL/Legality
RUPS, 15-07-2022
Hubungan Afiliasi
Affiliation
Beliau tidak mempunyai hubungan keluarga dengan Dewan

Komisaris dan Direksi .


Cheng Zhi Wei BSc MBA
Direktur
Director
Riwayat Jabatan
2018 – sekarang Direktur LTC Group

KEWARGANEGARAAN
Citizenship
2018 – Present Director LTC Group Singapore
Pendidikan
Education
- Bachelor of Science in Industrial and Operations Engineering, Place & Date of Birth
Summa Cum Laude dari College of Engineering - University of Singapore, 16-11-1983
Michigan-Ann Arbor.
- Master of Business Administration (MBA) with Distinction, dari
Kellogg School of Management-Northwestern University.
- Bachelor of Science in Industrial and Operations Engineering,

Summa Cum Laude from College of Engineering- University of
Michigan-Ann Arbor.
- Master of Business Administration (MBA) with Distinction, from
Kellogg School of Management-Northwestern University. LEGAL/Legality
RUPS, 15-07-2022
Hubungan Afiliasi
Affiliation
Beliau mempunyai hubungan keluarga dengan Komisaris Utama

(Cheng Yong Kwang) dan Direktur Utama (Cheng Yong Kim).
He is related to the President Commissioner (Cheng Yong Kwang)

and the President Director (Cheng Yong Kim).

Laporan Dewan Komisaris
Board of Commissioners’ Report
Pemegang Saham dan Pemangku Kepentingan Dear Shareholders and Stakeholders,

yang Terhormat,
Tahun 2022 merupakan tahun yang diharapkan 2022 was a year of recovery for PT Lion Metal
membawa pemulihan bagi PT Lion Metal Works Works Tbk (the Company) as the Company
Tbk (Perseroan) setelah menjalani tahun 2021 recovered from a weak 2021 that was impacted
yang kurang baik akibat dampak pandemi by the Covid-19 pandemic. In 2022, the
Covid-19. Pada tahun 2022, Perseroan Company recorded a commendable increase in
mencatatkan peningkatan penjualan yang sales and had a positive net profit, from a loss
cukup baik dan membukukan laba bersih yang in 2021. This was achieved despite a volatile
positif, dari kerugian pada tahun 2021. Hal ini global economy, which was impacted by the
dicapai meskipun ekonomi global bergejolak, Ukraine-Russia war at the start of the year,
yang dipengaruhi oleh perang Ukraina-Rusia inflation spikes in many countries, followed by
pada awal tahun, lonjakan inflasi di banyak central bank tightening and borrowing rate
negara, diikuti oleh pengetatan bank sentral increases in the second semester of 2022.
dan kenaikan suku bunga pinjaman pada
semester kedua tahun 2022.
Dewan Komisaris dalam menjalankan tugas The Board of Commissioners, in carrying out
pengawasannya selalu memberikan nasihat their supervisory duties, always provides advice
kepada Direksi dengan itikad baik, serta tetap to the Board of Directors in good faith, and
bertanggung jawab dan kehati-hatian dalam remains responsible and prudent in managing
mengurus kepentingan Perseroan. Saya the interests of the Company. I represent the
mewakili Dewan Komisaris menyampaikan Board of Commissioners in submitting a report
laporan tugas dan tanggung jawab pengawasan on our supervisory duties and responsibilities
yang kami laksanakan pada tahun 2022. carried out in 2022.
Penilaian Kinerja Direksi Evaluation of the Performance of the

Board of Directors
Pada tahun 2022 perekonomian global masih In 2022, the global economy remained volatile.
bergejolak. Hal ini mengakibatkan fluktuasi This resulted in fluctuating raw material prices
harga bahan baku dan sentiment bisnis yang and a more cautious business sentiment
lebih hati-hati di kalangan bisnis. Pada saat amongst businesses. At the same time, the
yang sama, Pembatasan Pergerakan Kegiatan Community Activity Movement Restriction
Masyarakat (PPKM) masih berlangsung di (PPKM) was still ongoing in Indonesia, which
Indonesia, yang mempengaruhi permintaan affected demand for some of the Company’s
beberapa produk Perseroan. products.
Meskipun ketidakpastian global dan lingkungan Despite the global uncertainties and generally
makro yang umumnya kurang baik, Perseroan poor macro environment, the Company
berhasil mencatatkan peningkatan penjualan, managed to record an increase in sales, partly
antara lain karena meningkatnya pesanan dari due to the large orders from customers in the
pelanggan pada proyek-proyek petrokimia dan petrochemical sector. and downstream industry
hilirisasi industri. Dewan Komisaris The Board of Commissioners acknowledges the
mengapresiasi upaya dan kerja keras Direksi efforts and hard work of the Board of Directors
dalam meningkatkan kinerja Perseroan di in improving the Company’s performance in
tahun 2022. Dewan Komisaris mengharapkan 2022. The Board of Commissioners would like
agar Direksi dan manajemen terus the Board of Directors and management to
meningkatkan kinerja Perseroan melalui continue to improve the Company’s
mencari peluang bisnis, selektif terhadap performance through seeking business
proyek baru dan menjaga cash flow agar tetap opportunities, being selective for new projects
berjalan dengan baik. Dewan Komisaris juga and improving working capital management.
menyampaikan apresiasi atas upaya Direksi The Board of Commissioners also expressed
dalam menjaga kesehatan dan keselamatan appreciation for the efforts of the Board of
karyawan di tengah pandemi. Directors in maintaining the health and safety
of employees in the midst of a pandemic.

Pengawasan Terhadap Implementasi Supervision on Implementation
Strategi Strategies
Dalam menyusun rencana kerja dan strategi In preparing work plans and strategies to be
yang akan dijalankan, Direksi telah implemented, the Board of Directors had taken
memperhatikan dan mempertimbangkan into account and considered the economic
kondisi ekonomi dan sektor industri Perseroan conditions and the Company’s industrial sector
yang dipengaruhi oleh sentiment bisnis yang which were affected by the poor business
kurang baik dan pandemi Covid-19. Dewan sentiment and the Covid-19 pandemic. The
Komisaris telah memberi dukungan dan arahan Board of Commissioners had provided support
kepada Direksi sepanjang tahun. and direction to the Board of Directors
throughout the year.
Dewan Komisaris menilai strategi yang The Board of Commissioners assesses that the
dijalankan sejalan dengan rencana kerja yang strategy implemented is in line with the
ditetapkan, dalam menjaga kelancaran established work plan, in maintaining the
operasional Perseroan dengan pengelolaan smooth operation of the Company by managing
cashflow yang sesuai kondisi yang dihadapi, cashflow, paying attention to business risks as
memperhatikan resiko dalam usaha serta well as increasing competitiveness and
meningkatkan daya saing dan meningkatkan increasing efficiency.
efisiensi.
Pandangan atas Prospek Usaha Opinion on Business Prospects
Pada tahun 2023, IMF memproyeksikan In 2023, the IMF is projecting a global growth
pertumbuhan global sebesar 2,9%, lebih of 2.9%, lower than 2022. In Indonesia, the
rendah dari tahun 2022. Di Indonesia, target target for GDP growth is 5.31%, higher than the
pertumbuhan PDB sebesar 5,31%, lebih tinggi global markets due to Indonesia’s commodity
dari pasar global disebabkan kinerja ekspor export exposure which is supported by high
komoditas Indonesia yang didukung oleh commodity prices. Foreign domestic
tingginya harga komoditas. Penanaman modal investment in Indonesia is increasing which
asing dan dalam negeri di Indonesia yang may benefit the Company as the Company
semakin meningkat dapat memberikan dampak provides building materials.
positif terhadap produk-produk bahan
bangunan Perseroan.
Perseroan akan terus mendapatkan order baru The Company will continue to secure new
untuk produk-produknya, terutama dari orders for its products, especially from
perusahaan-perusahaan di bidang infrastruktur companies in the infrastructure and
dan pergudangan yang berkembang pesat di warehousing sectors which are growing rapidly
Indonesia. Namun, tingginya inflasi secara in Indonesia. However, the high inflation
global dapat menyebabkan kenaikan harga globally has caused raw material prices to
bahan baku yang memberikan tekanan pada increase which places pressure on the
kinerja Perseroan. Direksi telah menyusun Company’s margins. The Board of Directors has
rencana kerja sebagai pedoman bagi prepared a work plan as a guideline for
manajemen untuk mengamankan penjualan management to secure new sales and also look
baru dan juga mencari alternatif sumber bahan for cheaper alternative raw material sources
baku yang lebih murah dengan tetap menjaga while maintaining its product quality.
kualitas produknya. Perseroan bertujuan untuk The company aims to complete faster
menyelesaikan pengiriman lebih cepat atas deliveries of current orders and get new
pesanan saat ini dan mendapatkan pesanan- orders so that the company's performance is
pesanan baru sehingga kinerja Perseroan lebih better than 2022.
baik dari tahun 2022.
Pandangan atas Tata kelola Opinion on Corporate Governance
Dewan Komisaris melakukan tugas dan The Board of Commissioners carries out the
tanggung jawab bersama dengan Direksi dan duties and responsibilities together with the
seluruh jajarannya dalam menerapkan prinsip- Board of Directors and all staff in implementing
prinsip tata kelola yang baik (GCG). Dewan the principles of good corporate governance
Komisaris memantau hasil yang diharapkan (GCG). The Board of Commissioners monitors
sesuai dengan peraturan dan prosedur yang the expected results in accordance with
berlaku. applicable regulations and procedures.

Dewan Komisaris melalui Komite Audit The Board of Commissioners monitors and
memantau dan meninjau aktivitas operasi reviews the Company's operating activities
Perseroan terhadap peraturan yang berlaku against applicable regulations and the
dan penerapan tata kelola yang baik (GCG). implementation of good corporate governance
(GCG) through the Audit Committee.
Konsistensi dalam penerapan prinsip dan Consistently applying good corporate

praktek tata kelola yang baik akan memberikan governance principles and practices to all
manfaat kepada peningkatan kinerja Perseroan aspects of the Company’s operations will help
yang berkelanjutan, sehingga Perseroan bisa improve the Company’s performance, maintain
menjaga kelangsungan usaha dan memberikan business continuity and create value for all
kepercayaan kepada para pemangku stakeholders in the long term.
kepentingan dalam jangka panjang.
Sistem manajemen mutu, sistem manjemen The quality management system,

lingkungan dan sistem manjemen keselamatan environmental management system and
dan kesehatan kerja yang telah berjalan occupational safety and health management
selama ini, tetap terus ditingkatkan melalui system continue to be improved through
tinjauan manajemen dan audit internal. management reviews and internal audits.
Frekuensi dan Cara Pemberian Frequency and Method of Advising

Nasihat ke Direksi the Board of Directors
Dewan Komisaris memberikan nasihat dan The Board of Commissioners provides advice
arahan kepada Direksi atas operasional and direction to the Board of Directors on
maupun kebijakan strategi dalam Rapat operational and strategic policies through Joint
Gabungan antara Dewan Komisaris dan Meetings between the Board of Commissioners
Direksi. Hubungan kerja Dewan Komisaris and the Board of Directors. The working
dengan Direksi sudah terjalin dengan baik. relationship between the Board of
Rapat gabungan Dewan Komisaris dan Direksi Commissioners and the Board of Directors has
dilaksanakan sebanyak 4 (empat) kali pada been well established. 4 (four) Joint Meetings of
tahun 2022. the Board of Commissioners and the Board of
Directors were held in 2022.
Apresiasi Appreciation
Dewan Komisaris menyampaikan terimakasih The Board of Commissioners would like to thank
kepada manajemen dan Direksi yang telah the management and the Board of Directors for
memimpin Perseroan melewati tahun 2022 leading the Company through a challenging
yang penuh tantangan dan menyampaikan 2022 and express appreciation to the
penghargaan kepada para karyawan atas employees for their support and dedication and
dukungan dan dedikasinya serta kepada thank the shareholders and stakeholders for
pemegang saham dan pemangku kepentingan their trust.
atas kepercayaannya.
Jakarta, April 2023
Cheng Yong Kwang

Komisaris Utama / President Commissioner

Cheng Yong Kwang
Komisaris Utama
President Commissioner
Riwayat Jabatan
1981 – sekarang Direktur Lion Realty Pte Ltd.

1990 – sekarang Direktur Teck Chiang Realty Pte Ltd.
2001 – sekarang Komisaris Utama PT Lion Metal Works Tbk KEWARGANEGARAAN
2018 – sekarang Direktur Mountbatten Resources Pte Ltd. Citizenship
2018 – sekarang Direktur Mountbatten Enterprises Pte Ltd Singapore
1981 – present Director Lion Realty Pte Ltd.
1990 – present Director Teck Chiang Realty Pte Ltd.
2001 – present President Commissioner PT Lion Metal Works Tbk
2018 – present Director Mountbatten Resources Pte Ltd.
2018 – present Director Mountbatten Enterprises Pte Ltd

Pendidikan Singapore, 17-03-1956
Education
Lulusan dari The Institute of Chartered Secretaries and

Administrators, United Kingdom.
Fellow of The Institute of Charter Secretaries and Administrators,

United Kingdom.
LEGAL/Legality
RUPS, 25-08-2021
Hubungan Afiliasi
Affiliation
Beliau mempunyai hubungan keluarga dengan Direktur Utama

(Cheng Yong Kim) dan Direktur (Cheng Zhi Wei ).
He is related to the President Director (Cheng Yong Kim) and

Director (Cheng Zhi Wei).

Lee Whay Keong
Komisaris
Commissioner
Riwayat Jabatan
1996 – sekarang Direktur Amble Bond Sdn. Bhd.

1998 – sekarang Direktur Ributasi Holdings Sdn. Bhd.
1998 – sekarang Direktur Lion Trading & Marketing Sdn. Bhd. KEWARGANEGARAAN
1998 – sekarang Direktur Secomex Manufacturing (M) Sdn. Bhd. Citizenship
1999 – sekarang Komisaris PT Lion Metal Works Tbk. Malaysia
1999 – sekarang Komisaris PT Lion Superior Electrodes.
2010 – sekarang Direktur Lion AsiaPac Ltd.
1996 – present Director Amble Bond Sdn. Bhd.

1998 – present Director Ributasi Holdings Sdn. Bhd.
1998 – present Director Lion Trading & Marketing Sdn. Bhd.
1998 – present Director Secomex Manufacturing (M) Sdn. Bhd
1999 – present Commissioner PT Lion Metal Works Tbk TEMPAT, TANGGAL LAHIR
1999 – present Commissioner PT Lion Superior Electrodes. Place & Date of Birth
2010 – present Director Lion AsiaPac Ltd. Perak, 05-10-1956
Pendidikan
Education
- North Texas University dengan gelar Master of Business

Administration LEGAL/Legality
- Diploma of Education dan Bachelor of Science (Honours) di RUPS, 25-08-2021
University of Malaya di Malaysia
- North Texas University with Master of Business Administration

- Diploma of Education and Bachelor of Science (Honours) at
University of Malaya di Malaysia
Hubungan Afiliasi
Affiliation

Komisaris dan Direksi.
He has no family relations with any member of the

Commissioners and the Board Directors.

Kalistus Decimus
Deke Making SE.Ak. CPAI
Komisaris Independen
Independent Commissioner
Riwayat Jabatan
2008 – 2009 Senior Auditor KAP Drs. Thomas, Lesmana, Henky & Rekan.
2009 – 2010 Senior Auditor KAP Drs. Achmad, Rasyid, Hisbullah & Rekan.
2010 – 2017 Senior Auditor KAP Kosasih, Nurdiyaman, Tjahyo & Rekan. KEWARGANEGARAAN
2017 – 2019 Supervisor Auditor KAP Kosasih, Nurdiyaman, Tjahyo & Rekan Citizenship
2017 – 2019 Asosiasi Manager KAP Teramihardja, Pradhono & Cahyadi
Indonesia
2018 – sekarang Komisaris Independen PT Lion Metal Works Tbk
2019 – sekarang Manager KAP Tanubrata Sutanto Fahmi Bambang &
Rekan (member of BDO).
2008 – 2009 Senior Auditors KAP Drs. Thomas, Lesmana, Henky & Rekan
2009 – 2010 Senior Auditors KAP Drs. Achmad, Rasyid, Hisbullah & Rekan.
2010 – 2017 Senior Auditors KAP Kosasih, Nurdiyaman, Tjahyo & Rekan.
2017 – 2019 Auditor Supervisor KAP Kosasih, Nurdiyaman, Tjahyo & Rekan
2017 – 2019 Association Managers KAP Teramihardja, Pradhono & Cahyadi TEMPAT, TANGGAL LAHIR
2018 – present Independent Commissioner PT Lion Metal Works Tbk Place & Date of Birth
2019 – present Manager KAP Tanubrata Sutanto Fahmi Bambang & Kupang, 14-10-1982
Rekan (member of BDO).
Pendidikan
Education
LEGAL/Legality
- Universitas Sanata Dharma, Fakultas Ekonomi Akuntansi. RUPS, 25-08-2021
- Universitas Trisakti, Program Profesi Akuntansi
- Sanata Dharma University, Faculty of Accounting Economics.

- Trisakti University, Accounting Professional Program
Hubungan Afiliasi
Affiliation

Komisaris dan Direksi.
He has no family relations with any member of the Commissioners

and the Board Directors.

ANALISA DAN PEMBAHASAN MANAJEMEN
Management Discussion and Analysis
Kinerja Keuangan
Financial Performance
POSISI KEUANGAN FINANCIAL POSITION
Total Aset Total Assets
Total aset Perseroan pada tahun 2022 sebesar The total assets of the Company in Year 2022
Rp684,50 miliar turun sebesar 0,34% decreased by 0.34% to Rp684.50 billion from
dibanding dengan Rp686,81 miliar pada tahun Rp686.81 billion in Year 2021. The breakdown
2021. Total aset terdiri dari 69,16% total aset of the total assets comprised 69.16% current
lancar dan 30,84% total aset tidak lancar. assets and 30.84% non-current assets. Most of
Penurunan total aset disebabkan menurunnya the decrease was due to the decrease of non
aset tidak lancar sebesar 0,96% atau Rp2,06 current assets by 0.96% or Rp2.06 billion.
miliar.
Aset Lancar Current Assets
Total aset lancar Perseroan pada tahun 2022 The Company's total current assets in 2022
sebesar Rp473,38 miliar menurun sebesar amounted to Rp473.38 billion, a decrease of
0,05% dari Rp473,63 miliar pada tahun 2021. 0.05% from Rp473.63 billion in 2021. This
Penurunan ini disebabkan adanya penurunan decrease was due to a decrease in cash and
kas dan setara kas sebesar 52,41% yaitu cash equivalents of 52.41% or Rp52.09 billion,
sebesar Rp52,09 miliar, penurunan piutang a decrease in trade receivables from related
usaha pihak berelasi sebesar 24,48% yaitu parties by 24.48%, namely Rp. 7.37 billion and
sebesar Rp7,37 miliar dan penurunan piutang a decrease in employee receivables by 63.33%,
karyawan sebesar 63,33% yaitu sebesar which is Rp. 1.33 billion. The decrease in cash
Rp1,33 miliar. Penurunan kas dan setara kas ini and cash equivalents was due to the increase in
dikarenakan naiknya kas neto yang digunakan net cash used for operating activities which
untuk aktivitas operasi mengakibatkan resulted in inventories increasing by 21.00% or
persediaan meningkat 21,00% atau Rp40,43 Rp40.43 billion.
miliar.
Aset Tidak Lancar Non-Current Assets
Total aset tidak lancar Perseroan pada tahun Total non-current assets of the Company in
2022 sebesar Rp211,12 miliar menurun Year 2022 amounted to Rp211.12 billion, a
sebesar 0,96% dari Rp213,17 miliar pada decrease of 0.96% from Rp213.17 billion in
tahun 2021. Penurunan ini disebabkan adanya Year 2021. The decrease was due to the
penurunan deposito berjangka yang dibatasi decrease in restricted time deposits of 10.26%
penggunaannya sebesar 10,26% atau sebesar or Rp4.00 billion and decrease in fixed assets
Rp4,00 miliar dan penurunan aset tetap by 4.25% or Rp3.72 billion from Rp87.58 billion
sebesar Rp3.72 miliar atau 4,25% dari Rp87,58 due to the increase in accumulated
miliar dikarenakan bertambahnya nilai depreciation.
akumulasi penyusutan.
Jumlah Liabilitas Total Liabilities
Total liabilitas Perseroan pada tahun 2022 Total liabilities of the Company in Year 2022
sebesar Rp209,68 miliar menurun sebesar decreased by 5.11% to Rp209.68 billion from
5,11% dari Rp220,98 miliar pada tahun 2021. Rp220.98 billion in Year 2021.

Total liabilitas terdiri dari 64,52% total liabilitas The total liabilities comprised 64.52% current
jangka pendek dan 35,48% total liabilitas liabilities and 35.48% non-current liabilities.
jangka panjang. Penurunan ini disebabkan The decrease is attributed to the decrease in
adanya penurunan pada liabilitas jangka current liabilities by 7.28% or Rp10.62 billion.
pendek sebesar 7,28% yaitu Rp10,62 miliar.
Liabilitas Jangka Pendek Current Liabilities
Total liabilitas jangka pendek Perseroan pada Total current liabilities of the Company in Year
tahun 2022 sebesar Rp135,30 miliar menurun 2022 amounted to Rp135.30 billion, an
sebesar 7,28% dari Rp145,92 miliar pada decrease of 7.28% from Rp145.92 billion in
tahun 2021. Penurunan ini terutama Year 2021. The decrease was primarily due to
disebabkan adanya penurunan pada uang a 29.44% decrease in advances from customer
muka pelanggan sebesar 29,44% atau sebesar or Rp22.04 billion.
Rp22,04 miliar.
Liabilitas Jangka Panjang Non-Current Liabilities
Total Liabilitas jangka panjang Perseroan pada Total non-current liabilities of the Company in
tahun 2022 sebesar Rp74,39 miliar menurun Year 2022 decreased by 0.90% to Rp74.39
sebesar 0,90% dari Rp75,06 miliar pada tahun billion from Rp75.06 billion in Year 2021 due to
2021, disebabkan adanya penurunan pada the decrease in the long-term portion of the
liabilitas sewa–bagian jangka panjang. lease liability.
Ekuitas Equity
Jumlah ekuitas Perseroan pada tahun 2022 Total equity of the Company in Year 2022
sebesar Rp474,81 milliar meningkat sebesar amounted to Rp474.81 billion, an increase of
1,93% dari Rp465.82 miliar pada tahun 2021. 1.93% from Rp465.82 billion in Year 2021. The
Peningkatan ini disebabkan oleh meningkatnya increase was due to the increase in
saldo laba yang belum ditentukan unappropriated retained earnings to Rp8.94
penggunaannya sebesar Rp8,94 miliar atau billion or an increase of 2.23% from Rp401.88
naik sebesar 2,23% dari Rp401,88 miliar tahun billion in Year 2021 to Rp410.83 billion in Year
2021 menjadi Rp410,83 miliar pada tahun 2022.
2022.
LABA RUGI PROFIT & LOSS
Penjualan Neto Net Sales
Penjualan neto Perseroan periode 2022 adalah The Company’s net sales for Year 2022 was
sebesar Rp408,81 miliar meningkat sebesar Rp408.81 billion, an increase of 36.14% from
36,14% dari Rp300,28 miliar pada tahun 2021. Rp300.28 billion in Year 2021. This increase
Peningkatan ini disebabkan oleh meningkatnya was due to the improvement in the sales
volume penjualan produk-produk Perseroan. volume of the Company's products.
Kontribusi Penjualan
Kelompok Jenis Produk
No. Sales Contribution
Categories of Products
(%)
Peralatan Kantor, Sistem Penyimpanan Arsip, brankas,
Peralatan Pengamanan dan peralatan pergudangan
1. 55,83%
Office Equipment, File Storage Equipment Systems,
Safe, Security Equipment and Warehouse Equipment
Bahan Bangunan dan Kanal C

2. 44,17%
Building Materials and “C” Channel

Beban Pokok Penjualan Cost of Goods Sold
Beban Pokok Penjualan Perseroan periode 2022 The Company’s Cost of Goods Sold for Year
adalah sebesar Rp261,71 miliar meningkat 2022 was Rp261.71 billion which was 31.87%
sebesar 31,87% dari Rp198,45 miliar pada higher than Rp198.45 billion in Year 2021.
tahun 2021.
Laba Bruto Gross Profit
Laba kotor Perseroan periode 2022 adalah The Company’s gross profit for Year 2022 was
sebesar Rp147,10 miliar meningkat sebesar Rp147.10 billion which was 44.46% from
44,46% dari Rp101,83 miliar pada tahun 2021. Rp101.83 billion in Year 2021. In percentage,
Secara persentase, peningkatan ini lebih besar this increase was larger than the increase in the
dari peningkatan penjualan neto Perseroan. Company's net sales.
Laba (Rugi) Usaha Operating Income (Loss)
Perseroan mengalami laba usaha pada periode The Company’s operating income for Year in
2022 yaitu sebesar Rp4,15 miliar, naik sebesar 2022 was Rp4.15 billion, an increase of
144,05% dari kerugian Rp9,42 miliar di tahun 144.05% from the Year 2021’s loss of Rp9.42
2021. Kenaikan ini disebabkan oleh billion. This increase was due to the increase in
meningkatnya penjualan Perseroan dan margin the Company's sales and gross profit margin in
laba bruto Perseroan di tahun 2022 Year 2022 compared to the previous year.
dibandingkan dengan tahun sebelumnya.
Laba (Rugi) Tahun Berjalan Profit (Loss) for The Year
Perseroan mengalami laba tahun berjalan pada The Company’s profit for Year 2022 amounted
periode 2022 sebesar Rp2,31 miliar naik to Rp2.31 billion, an increase of 126.49% from
sebesar 126,49% dari rugi tahun berjalan a Rp8.77 billion net loss in Year 2021. This
sebesar Rp8,74 miliar pada periode tahun increase was due to the increase in Company's
2021. Kenaikan ini disebabkan karena operating inccome.
meningkatnya laba usaha Perseroan.
Laba (Rugi) Komprehensif yang Comprehensive Income (Loss)

Diatribusikan kepada Pemilik Entitas Attributable to Owner of the Parent and
Induk dan Kepentingan Non Pengendali Non Controlling Interest
Total Laba komprehensif yang didistribusikan The total comprehensive income attributable to
kepada pemilik entitas induk dan kepentingan Owner of Parent Entity and Non Controlling
non pengendali tahun 2022 adalah sebesar Interests for the Year 2022 period was Rp8.99
Rp8,99 miliar meningkat sebesar Rp13,13 billion, an increase of Rp13.13 billion or
miliar atau naik sebesar 317,43% dari 317.43% positive reversal from a
pembalikan keuntungan atas rugi comprehensive loss of Rp4,14 billion in Year
komprehensif sebesar Rp4,14 miliar tahun 2021.
2021.
Pengukuran kembali liabilitas imbalan kerja The estimated liabilities for employee benefits
mengalami peningkatan dibandingkan periode has increased compared to the previous period.
sebelumnya.

Rasio Keuangan
2022 2021 2020
Financial Ratios
1. Laba (Rugi) Neto terhadap Pendapatan Usaha

0,57% (2,91)% (3,21)%
Net Income (Loss) to Net Sales
2. Laba (Rugi) Usaha terhadap Ekuitas

0,87% (2,02)% (2,55)%
Operating Income (Loss) to Equity
3. Laba (Rugi) Usaha terhadap Total Aset

0,61% (1,37)% (1,85)%
Operating Income (Loss) to Total Assets
4. Laba (Rugi) Neto terhadap Ekuitas

0,49% (1,88)% (2,04)%
Net Income (Loss) to Equity
ARUS KAS CASH FLOW
Pada akhir periode 2022, saldo akhir kas dan At the end of the Year 2022 period, the closing
setara kas sebesar Rp47,31 miliar balance of cash and cash equivalents was
dibandingkan tahun 2021 sebesar Rp99,40 Rp47.31 billion compared to Rp99.40 billion in
miliar atau mengalami penurunan sebesar Year 2021, a decrease of 52.41% or Rp52.09
52,41% atau sebesar Rp52,09 miliar, billion. This decrease was due to an increase in
penurunan ini dikarenakan peningkatan arus cash flow used for operations and investment.
kas digunakan untuk operasi dan investasi. Most of the cash used for operations was for
Sebagian besar uang tunai yang digunakan inventory build-up for order fulfilment.
untuk operasi adalah untuk membangun
persediaan untuk memenuhi pesanan.
Arus Kas dari Aktivitas Operasi Cash Flows from Operating Activities
Kas neto digunakan untuk aktivitas operasi The net cash used for the Company's operating
Perseroan selama tahun 2022 sebesar Rp42,37 activities in Year 2022 amounted to Rp42.37
miliar atau naik sebesar 466,87% dibandingkan billion, an increase of 466.87% from Year
tahun 2021 sebesar Rp11,55 miliar. Kenaikan 2021’s Rp11.55 billion. This increase was due
ini dikarenakan kas dipergunakan untuk to payments to suppliers and operating
pembayaran kepada pemasok dan beban expenses.
operasional.
Arus Kas dari Aktivitas Pendanaan Cash Flow from Financing Activities
Kas neto dari aktivitas pendanaan digunakan Net cash flow from financing activities was
untuk pembayaran porsi pokok liabilitas sewa. used for the payment of principal portion of the
lease liabity.
Arus Kas dari Aktivitas Investasi Cash Flow from Investing Activities
Kas neto digunakan untuk aktivitas investasi The net cash flow used in investing activities
Perseroan selama tahun 2022 sebesar Rp10,80 by the Company in Year 2022 amounted to
miliar turun sebesar 39,60% dibandingkan Rp10.80 billion which was a decrease of
tahun 2021 sebesar Rp17,88 miliar. Aktivitas 39.60% from Year 2021’s Rp17.88 billion. The
investasi digunakan antara lain untuk net cash used in investment activities was
penempatan deposito. mainly used for the placement of deposits.

KEMAMPUAN MEMBAYAR UTANG SOLVENCY AND RECEIVABLES
DAN TINGKAT KOLEKTIBILITAS COLLECTABILITY
PIUTANG
Likuiditas Liquidity
Rasio lancar pada tahun 2022 sebesar 3,50 kali The current ratio in Year 2022 was 3.50, which
naik dibanding pada tahun 2021 sebesar 3,25 increased from 3.25 in Year 2021 and the quick
kali, dan rasio cepat pada tahun 2022 sebesar ratio in Year 2022 was 1.78, which decreased
1,78 kali turun dibanding pada tahun 2021 from 1.93 in Year 2021. Although these ratios
sebesar 1,93 kali. Meskipun rasio-rasio declined slightly from 2021, the Company’s
tersebut sedikit menurun dari tahun 2021, liquidity is still very high and it is able to meet
namun likuiditas Perseroan masih sangat tinggi its financial obligations.
dan mampu memenuhi kewajiban
keuangannya.
Solvabilitas Solvency
Solvabilitas menggambarkan kemampuan Solvency describes the Company’s capacity to

Perseroan dalam membayar kewajiban. Pada pay its liabilities. In 2022, the ratio of debt to
tahun 2022 rasio hutang terhadap total aset total assets or Liabilities to Asset Ratio (LAR) is
atau Liabilities to Asset Ratio (LAR) sebesar 0.31 times, a slight decrease compared to
0,31 kali mengalami sedikit penurunan 2021, which is 0.32 times. The Liabilities to
dibanding tahun 2021 yaitu sebesar 0,32 kali. Equity (LER) ratio in 2022 is 0.44 times, slightly
Rasio Liabilitas terhadap Ekuitas atau Liabilities lower than 0.47 in 2021. LAR & LER were lower
to Equity (LER) pada tahun 2022 sebesar 0,44 than the previous year and the Company's
kali, sedikit lebih rendah dibanding dengan ability to pay its debts is still very strong.
tahun 2021 sebesar 0,47. LAR & LER lebih
rendah dari tahun sebelumnya namun
kemampuan Perseroan untuk membayar
utangnya masih sangat kuat.
RASIO / RATIO 2022 2021 2020
Rasio Lancar
3,50 3,25 3,86
Current Ratio
Rasio Cepat
1,78 1,93 2,51
Quick Ratio
Kolektibilitas Piutang Collectibility Of Receivables
Jumlah piutang pada tahun 2022 adalah The amount of receivables in 2022 is Rp175.73
Rp175,73 miliar dan pada tahun 2021 adalah billion and in 2021 it is Rp154.61 billion. The
Rp154,61 miliar. Persentasi total piutang yang percentage of total receivables that are due for
telah jatuh tempo pembayarannya adalah payment is 35.31% in 2022 and 19.36% in
35,31% pada tahun 2022 dan 19,36% pada 2021. The Company's collectability is better and
tahun 2021. Kolektibilitas Perseroan lebih baik quite stable from year to year and under
dan cukup stabil dari tahun ke tahun serta control. Allowance for trade receivables in 2022
terkontrol. Penyisihan piutang usaha pada amounted to Rp34.72 billion, an increase of
tahun 2022 sebesar Rp34,72 miliar naik 135.75% from Rp14.73 billion in 2021.
sebesar 135,75% dari Rp14,73 miliar pada Allowance for trade receivables increased by Rp
tahun 2021. Penyisihan piutang usaha 19.99 billion due to a decrease in the collection
mengalami kenaikan sebesar Rp19,99 miliar, rate for certain creditors. Allowance for
hal ini disebabkan adanya penurunan tingkat impairment of trade receivables by the
penagihan atas kreditur tertentu. Penyisihan Company in 2022 is able to cover losses from
penurunan nilai piutang usaha oleh Perseroan the uncollectible receivables.
pada tahun 2022 masih dapat menutupi
kerugian atas tidak tertagihnya piutang.

Modal dan Kebijakan Manajemen atas Capital Structure and Management Policy
Struktur Modal on Capital Structure
Perseroan menerapkan strategi struktur modal The Company implements a capital structure
dengan rasio utang terhadap modal maksimum strategy with a maximum debt to equity ratio
1:1. Total liabilitas terhadap ekuitas pada tahun of 1:1. Total liabilities to equity in 2022
2022 sebesar 44,16%, sedikit menurun amounted to 44.16%, a slight decrease
dibandingkan tahun 2021 sebesar 47,44%. compared to 47.44% in 2021.
Ikatan yang Material untuk Investasi Material Investments in Capital Goods

Barang Modal
Sepanjang tahun 2022, Perseroan tidak Throughout 2022, the Company did not invest
melakukan ikatan yang material untuk in any significant capital goods.
investasi barang modal yang signifikan.
Investasi Barang Modal yang Material Realizations for Capital Goods

Direalisasikan pada Tahun Buku Berjalan Investment in Current Financial Year
Sepanjang tahun 2022, Perseroan tidak ada Throughout 2022, the Company did not realize
realisasi untuk investasi barang modal. any significant capital goods investment.
Informasi Transaksi Material dengan Information on Material Transaction with

Pihak Berelasi Related Parties
Sepanjang tahun 2022, Perseroan tidak Throughout 2022, the Company did not have
memiliki transaksi material dengan pihak material transactions with related parties.
berelasi.
Nama
Kewajaran Transaksi
Perusahaan
Fairness of Transactions
Company Name
Saldo per tanggal 31 Desember 2022 disajikan sebagai akun piutang usaha
PT
pihak berelasi sebesar Rp10,80 miliar. Pada tahun 2022 terdapat penjualan
Bantrunk
sebesar Rp105,61 miliar, pembelian sebesar Rp25,56 juta dan pendapatan
Murni
Indonesia sewa sebesar Rp27 juta.
The related party accounts receivable balance as at December 31, 2022 was
Rp10.80 billion. In Year 2022 there were sales of Rp105.61 billion, purchases
of Rp25.56 million and rental income of Rp27 million.
PT
pihak berelasi sebesar Rp4,09 miliar. Pada tahun 2022 penjualan sebesar
Logam
Rp6,90 miliar.
Angkasa
Teknik The related party accounts receivable balance as at December 31, 2022 was
Rp4.09 billion. In Year 2022, sales amounted to Rp6.90 billion.
PT
pihak berelasi sebesar Rp10,17 miliar. Pada tahun 2022 penjualan sebesar
Logam
Rp10,32 miliar dan pendapatan sewa sebesar Rp27 juta.
Menara
Murni The related party accounts receivable balance as at December 31, 2022 was
Rp10.17 billion. In Year 2022, sales amounted to Rp10.32 billion and rental
income amounted to Rp27 milion.

Nama
Kewajaran Transaksi
Perusahaan
Fairness of Transactions
Company Name
PT Pada tahun 2022, pendapatan sewa sebesar Rp340,20 juta.

Lion Superior
Electrodes In Year 2022, rental income amounted to Rp340.20 million.
Saldo per tanggal 31 Desember 2022 disajikan sebagai akun piutang lain-lain
PT sebesar Rp1,41 miliar (merupakan piutang atas liabilitas atas imbalan kerja
Lionmesh berdasarkan perhitungan aktuaris). Pada tahun 2022 penjualan sebesar
Prima Tbk Rp17,68 juta, pembelian sebesar Rp98,22 juta dan pembayaran sewa sebesar
Rp791,90 juta
As ast December 31, 2022, the Other Accounts Receivable balance was Rp1.41
billion (represents receivables from liabilities for employee benefits based on
actuary calculations). In Year 2022, sales amounted to Rp17.68 million,
purchases of Rp98,22 million and rental expense of Rp 791.90 million.
Keterbukaan Informasi Information Disclosure
Dalam memenuhi peraturan keterbukaan, pada In complying with disclosure regulations, on

tanggal 24 Oktober 2022 Perseroan October 24, 2022 the Company announced
mengumumkan keterbukaan informasi information disclosure in connection with
sehubungan dengan mendapatkan proyek dari obtaining a project from RDMP Balikpapan JO to
RDMP Balikpapan JO untuk mensupply supply "Electrical cable tray & accessories 3rd
“Electrical cable tray & accessories 3rd MTO”. MTO". This contract has a material impact on
Kontrak ini memiliki dampak material bagi the Company because the contract value is Rp
Perseroan karena nilai kontrak senilai 89,620,241,400 for the contract period until 31
Rp89.620.241.400,- dengan periode kontrak July 2023.
sampai dengan 31 Juli 2023.
Informasi Transaksi Derivatif dan/atau Information on Derivative Transaction

lindung nilai mata uang and/or Foreign Exchange Hedging
Sepanjang 2022, Perseroan tidak memiliki Throughout Year 2022, the Company did not
transaksi derivatif dan/atau lindung nilai. perform any derivative and/or hedging
Perseroan menempatkan dana dalam mata transactions. The Company places sufficient
uang asing yang cukup untuk dapat memenuhi funds in foreign currency to meet the required
kegiatan operasi dalam mata uang asing yang operating activities in the foreign currency.
diperlukan.
Informasi Material Mengenai Investasi, Material Information Regarding

Ekspansi, Divestasi, Investment, Expansion, Divestment,
Penggabungan/Peleburan Usaha, Akusisi, Business Merger/Consolidation,
Restrukturisasi Utang/Modal Acquisition, Debt/Capital Restructuring
Sepanjang tahun 2022, Perseroan tidak Throughout 2022, the Company did not have
terdapat informasi material mengenai aktivitas material information regarding investment
investasi, ekspansi, divestasi, penggabungan/ activities, expansion, divestment, business
peleburan usaha, akusisi, restrukturisasi merger/consolidation, acquisition, debt/ capital
utang/modal. restructuring.

Dampak Perubahan Kebijakan
Impact of policy Changes
Perubahan Peraturan Perundang- Changes in Regulations and Laws

undangan yang Berpengaruh that Have Significant Impact on the
Signifikan terhadap Kinerja Company
Perusahaan
Sepanjang tahun 2022, tidak terdapat Throughout 2022, there were no changes in
peraturan perundang-undangan atau regulations and laws that had a significant
ketentuan yang memberi dampak signifikan impact on the Company’s performance.
terhadap kinerja Perseroan.
Perubahan Kebijakan Akuntansi dan Changes in Accounting Policies and

Dampak terhadap Laporan Keuangan Impact on Financial Statements
Penerapan standar akuntansi keuangan atas Application of financial accounting standards for
sejumlah amendemen/penyesuaian PSAK yang a number of PSAK amendments/improvements
relevan terhadap Perseroan berlaku efektif that are relevant to the Company effective from
mulai 1 Januari 2022. Penerapan PSAK revisi January 1, 2022. The adoption of the revised
tidak menimbulkan perubahan substansial PSAK did not result in substantial changes to
terhadap kebijakan akuntansi Perseroan dan the Company's accounting policies and had a
tidak memiliki efek material pada jumlah- material effect on the amounts reported for the
jumlah yang dilaporkan atas tahun berjalan current or previous year:
atau tahun sebelumnya:
 PSAK No. 73 (Amendemen) : sewa, tentang  PSAK No. 73 (Amendment): lease,
konsensi sewa terkait Covid-19 setelah 30 regarding rental concessions related to
Juni 2021. Covid-19 after 30 June 2021.
 PSAK 71 (Penyesuaian Tahunan 2020):  PSAK 71 (2020 Annual Adjustment):
Instrumen Keuangan, tentang Financial Instruments, regarding clarifying
mengklarifikasi fee (imbalan) yang diakui fees (returns) recognized by the borrower.
oleh peminjam.  PSAK 73 (Annual Adjustment 2020): Leases,
 PSAK 73 (Penyesuaian Tahunan 2020): regarding omitting from an illustrative
Sewa, tentang menghilangkan dari contoh example of reimbursement of rental
ilustrasi penggantian biaya properti sewaan property costs from lessees.
dari penyewa
Informasi Lainnya Other Information
Ada rencana pemerintah DKI Jakarta atas There is a DKI Jakarta government plan for road
pelebaran jalan di Jalan Raya Bekasi, sehingga widening on Jalan Raya Bekasi, and it will
akan memperkecil luasan tanah yang dimiliki decrease the land area owned by the Company
Perseroan namun tidak akan mengganggu but will not disrupt the factory operations.
jalannya operasional pabrik
Informasi Setelah Tanggal Laporan Information After Date of

Akuntan Accountant’s Report
Sepanjang tahun 2022, tidak terdapat For Year 2022, there is no material information
informasi setelah tanggal Laporan Akuntan. disclosure after the date of the Accountant's
Report.

Tinjauan Operasi per Segmen Usaha
Segmental Operation Review
Pada tahun 2022, perekonomian Indonesia In 2022, the Indonesian economy recovered
menunjukkan pemulihan meskipun hampir even though the Government’s Community
sepanjang tahun Pemerintah masih Activity Restrictions (PPKM) was still in force for
menerapkan Pembatasan Kegiatan Masyarakat most of the year to control Covid-19 spread.
(PPKM) untuk mengendalikan penyebaran The Company benefited from an increase in
Covid-19. Kinerja Perseroan meningkat sebagai foreign investment in Indonesia as it secured
dari peningkatan investasi asing di Indonesia orders from infrastructure projects and other
dan meningkatnya pesanan dari proyek downstream industries.
infrastruktur dan industri hilir lainnya.
Perseroan mencatat penjualan bersih Rp408,81 The company recorded net sales of Rp408.81
miliar pada tahun 2022, meningkat sebesar billion in 2022, an increase of 36.14% or
36,14% atau sebesar Rp108,53 miliar Rp108.53 billion compared to 2021 of Rp300.28
dibanding tahun 2021 sebesar Rp300,28 miliar. billion.
Penjualan dari segmen produk perkantoran dan Sales from the office and warehousing product
pergudangan meningkat 28,07% di tahun 2022 segment increased by 28.07% in 2022
dibandingkan tahun 2021, dengan kontribusi compared to 2021, with a total contribution
keseluruhan sebesar 55,83% dari total of 55.83% of total sales, lower than 59.35%
penjualan, lebih rendah dari 59,35% di tahun in 2021 due to demand for the office sector in
2021 dikarenakan permintaan terhadap sector 2022 increased slightly compared to 2021 but
perkantoran ditahun 2022 meningkat sedikit with a reduced space with a cost-saving
dibandingkan than 2021 namun dengan space strategy due to the implementation of
yang diperkecil dengan strategi penghematan hybridwork and workplace strategies, so it
biaya akibat penerapan hybidwork dan doesn't have a better impact on the company's
workplace strategi, sehingga tidak memberikan products. Projects for office and warehousing
dampak yang lebih baik pada produk products include: PT MAP Active Adiperkasa
perseroan. Proyek-proyek untuk produk Tbk, PT Catur Mitra Sejati Sentosa and PT Tirta
perkantoran dan pergudangan diantaranya Fresindo Jaya.
adalah : PT MAP Aktif Adiperkasa Tbk, PT Catur
Mitra Sejati Sentosa dan PT Tirta Fresindo Jaya.
Penjualan dari segmen produk bahan bangunan Sales from the building materials product
meningkat 47,93% dibandingkan tahun 2021, segment increased 47.93% compared to 2021,
dan mewakili 44,17% dari total penjualan, lebih and represented 44.17% of total sales, higher
tinggi dibandingkan 40,65% pada tahun 2021. than 40.65% in 2021. Projects in the building
Proyek-proyek pada kelompok bahan bangunan materials group include: RDMP Balikpapan JO,
antara lain : RDMP Balikpapan JO, Islamic Islamic Financial Center, Bintaro Jaya Exchange
Financial Center, Bintaro Jaya Exchange 2 dan 2 and State University Jakarta (Phase 2).
State University Jakarta (Phase 2).
Perseroan membukukan laba bersih yang The company recorded a positive net profit in
positif di tahun 2022 yaitu sebesar Rp2,31 2022 of Rp2.31 billion, an increase of 157.32%
miliar atau meningkat 126,49% dibanding rugi compared to the 2021 net loss of Rp4.03 billion.
bersih tahun 2021 sebesar Rp(8,74) miliar. The ratio of operating profit to equity is 0.87%,
Rasio laba usaha terhadap ekuitas adalah while the ratio of operating profit to total assets
sebesar 1,97%, sedangkan rasio laba usaha is 0.61%.
terhadap total aset sebesar 0,61%.

Produksi
Production
Secara umum proses produksi bisa kita In general, we can understand the production
pahami melalui flow chart sebagai berikut : process through the flow chart as follows:
Bahan baku utama yang berasal dari supplier The main raw material that comes from
(berupa coil baja) terlebih dahulu diubah suppliers (in the form of steel coils) is first
bentuknya dari plat coil menjadi plat lembaran changed in shape from coil plates to sheet
(proses shearing) ataupun dibelah menjadi plates (shearing process) or split into small
coil kecil (proses slitting). coils (slitting process).
Selanjutnya plat lembaran akan dipotong Sheet plates will then be cut back into
kembali menjadi plat lembaran komponen component sheet plates (cutting process).
(proses cutting), demikian pula bahan baku Other raw materials in the form of profiles
utama berupa profil (pipa, siku, dll) yang juga (pipes, elbows, etc.) from suppliers also go
berasal dari supplier, sebelum dipakai terlebih through the cutting process.
dahulu juga melalui prosescutting.
Sebelum dilas bahan plat lembaran komponen Before being welded, plate material, sheet
dan bahan profil komponen, dilubangi dan components and component profile materials
dibentuk melalui proses di mesin punching are punched and formed through processes in
dan bending, untuk pembuatan lubang, punching and bending machines, for making
coakan sudut dan tekukan dll, (proses holes, coakan corners and bends, etc.
punching dan proses bending). (punching process and bending process).
Setelah melewati proses punching dan proses After going through the punching process and
bending, selanjutnya semua bahan tersebut bending process, these materials are put
disatukan dalam proses pengelasan dengan together in the welding process using a
menggunakan mesin las yang dioperasikan welding machine operated by a welding
oleh operator welding (welder) atau juga dilas operator (welder) or also spot welded with a
titik dengan mesin spot welding. spot welding machine.
Untuk mendapatkan tampilan yang bagus To get a good appearance, the welded product
produk hasil pengelasan digerinda rapih. is grinded neatly.

 Proses-proses utama dalam proses  The main processes in the production
produksi adalah sebagai berikut : process are as follows:
- Proses Roll Forming & Shearing - Roll Forming & Shearing Process
(pemotongan coil baja menjadi plat (cutting steel coil into sheet plates,
lembaran, pembelahan coil baja slitting steel coil into small coils, and
menjadi coil kecil, dan pembentukan forming profile materials).
bahan profil).
- Proses Fabrikasi (Cutting, Punching, - Fabrication Process (Cutting, Punching,
Bending, Welding, Spot Welding, Bending, Welding, Spot Welding,
Grinding). Grinding).
- Proses Finishing (Pengecatan powder - Finishing process (powder coating
coating, Pengecatan wet paint, painting, wet paint painting,
galvanize di plant galvanize, electro galvanizing at the galvanize plant,
plating di plant electro plating). electro plating at the electro plating
plant).
- Proses Assembling. - Assembling process.
- Proses Packing. - Packing process.
 Adapun produk-produk yang dihasilkan dari  The products produced from the Production
lini Produksi sebagai berikut : line are as follows:
- Office Furniture. - Office Furniture.
- Storage Equipment. - Storage Equipment.
- Bahan Bangunan. - Building material.
- C. Channel. - C.Channel.
- Bankas dan Peralatan Pengaman. - Safes and Security Equipment.
- Produk Spesial / Customized. - Special / Customized Products (Airport
(Conveyor Bandara, Stainless Door, Conveyors, Stainless Doors, etc.).
dan lain-lain).
 Saat ini proses produksi tersebar di tiga  Currently the production process is spread
lokasi sebagai berikut : across three locations as follows:
- Proses produksi di Pabrik Jakarta. - Production process at the Jakarta
Factory.
- Proses produksi di Pabrik Purwakarta. - Production process at the Purwakarta
Factory.
- Proses produksi di Pabrik Sidoarjo. - Production process at the Sidoarjo
Factory
Perseroan menyadari pentingnya lingkungan The Company recognizes the importance of the
kerja dan keamanan bekerja serta sudah work environment and work safety and has
menerapkan System Managemen Keselamatan implemented an Occupational Safety and
dan Kesehatan Kerja (SMK3), telah Health Management System (SMK3), was
diassesment oleh Badan Sertifikasi pada tahun assessed by the Certification Body in 2016 and
2016 dan mendapatkan sertifikat OHSAS received the OHSAS 18001 : 2007 certificate,
18001 : 2007, yang pada tahun 2021 which in 2021 was upgraded to ISO 45001:
ditingkatkan menjadi ISO 45001 : 2018. 2018.
Perseroan juga terus berupaya menciptakan The Company also continues to strive to create
lingkungan hidup maupun lingkungan kerja a safe and healthy living and working
yang aman dan sehat sesuai dengan regulasi environment in accordance with the regulations
yang diterapkan Pemerintah. implemented by the Government.

Tanggung Jawab atas Kualitas Responsibility for Product Quality
Produk
Perseroan berkomitmen untuk menghasilkan The Company is committed to producing high

produk yang berkualitas tinggi. Setiap produk quality products. Each product has gone
telah melalui prosedur Quality Control (QC) through a Quality Control (QC) procedure
sesuai standar operating procedure (SOP) according to the standard operating procedure
dimulai dari pemeriksaan material, proses (SOP) starting from material inspection,
produksi, produk jadi, identifikasi status hasil production process, finished product,
pemeriksaan serta penyajian laporan identification of the status of the inspection
pemeriksaan kualitas. results and presentation of quality inspection
reports.
Setiap produk yang dilepaskan ke pasar Every product that is released to the market
dipastikan sudah melalui proses pengendalian goes through a strict quality control process.
kualitas yang ketat. Pengecekan kualitas Quality checks are done on raw materials from
dilakukan terhadap bahan baku dari pemasok suppliers by paying attention to raw material
dengan memperhatikan spesifikasi & sertifikasi specifications & certifications. Semi-finished
bahan baku. Produk setengah jadi diperiksa products are inspected by checking against
dengan memeriksa spesifikasi dan parameter specifications and parameters in the production
dalam proses produksi. Pelabelan QC harus process. QC labeling must be given to each
diberikan pada setiap produk untuk product to ensure that traceability.
memastikan ketertelusuran itu.
Perseroan memiliki sertifikasi eksternal atas The Company has external certifications on the
kualitas produknya sesuai dengan motto quality of its products in accordance with the
Perseroan “LION JAMINAN MUTU yaitu telah Company's motto "LION ASSURANCE QUALITY,
memperoleh sertifikat ISO 9002 tahun 1997 namely obtaining an ISO 9002 certificate in
lalu ditingkatkan menjadi ISO 9001:2000 dan 1997 and then upgrading to ISO 9001: 2000
terus ditingkatkan menjadi ISO 9001:2008 dan and continuing to improve to ISO 9001: 2008
sampai yang terbaru Sistem Manajemen Mutu and up to the latest Quality Management
(SMM) ISO 9001:2015 dan Sertifikasi Standar System (QMS) ISO 9001:2015 and Indonesian
Nasional Indonesia (SNI) 0908:2007 ; SNI 12- National Standard Certification (SNI)
0149-1987 ; SNI 12-0150-1987. 0908:2007 ; SNI 12-0149-1987 ; SNI 12-0150-
1987.
Dampak Lingkungan Environmental Impact
Terkait isu lingkungan, Perseroan mengacu Regarding environmental issues, the Company
pada dokumen Rencana Pengelolaan refers to the Environmental Management Plan
Lingkungan (RKL) dan Rencana Pemantauan (RKL) and Environmental Monitoring Plan (RPL)
Lingkungan (RPL) mengacu pada UU documents referring to the Environmental Law
Lingkungan Hidup no 22 tahun 2021 tentang No. 22 of 2021 concerning the Implementation
penyelenggaraan Perlindungan dan of Environmental Protection and Management.
Pengelolaan Lingkungan Hidup. Berdasarkan Based on the RKL/RPL documents, the
dokumen RKL/RPL, Perseroan secara rutin Company routinely conducts environmental
melakukan pengawasan atau monitoring monitoring or surveillance, such as monitoring
lingkungan seperti monitoring pencemaran air pollution of domestic and production
limbah domestik dan produksi, udara ambien, wastewater, ambient air, work environment air,
udara lingkungan kerja, Kawasan dilarang no Smoking areas, noise, immovable and
merokok, kebisingan, emisi tidak bergerak dan immovable emissions, B3 waste and so on.
emisi bergerak, limbah B3 dan sebagainya.
Perseroan telah mengidentifikasi isu-isu The company has identified important issues
penting terkait lingkungan, antara lain: tingkat related to the environment, including: noise
kebisingan, timbunan limbah, dan level, waste accumulation, and reduced area of
berkurangnya luasan lahan terbuka hijau. green open land.

Dan sebagai bentuk tanggung jawab terhadap As a form of responsibility for the environment,
lingkungan, Perseroan membuat program kerja the Company creates an annual work program
tahunan dengan tujuan melakukan mitigasi with the aim of mitigating environmental
pencemaran lingkungan seta melestarikan pollution and preserving biodiversity.
hayati.
Pemasaran Marketing
Sejalan dengan kelompok jenis produk yang In line with the product types produced
dihasilkan oleh Perseroan, maka operasional by the Company, operational and marketing
dan strategi pemasaran juga disesuaikan strategies are also adjusted to the
dengan pasar dan pelanggan yang dituju oleh target market and customers for each type of
masing-masing jenis dan kelompok produk product group to support targeted sales.
untuk mendukung penjualan yang tepat This is supported by experienced sales
sasaran, Hal ini di dukung dengan tenaga people. The Company also has a marketing
penjual yang berpengalaman. Perseroan juga engineering (Marketing Engineering)
memiliki tim teknik pemasaran (Marketing team whose job is to provide technical
Engineering) yang bertugas untuk memberikan presentations and product specifications
presentasi terkait teknis dan spesifikasi produk to customers, in addition to developing
kepada pelanggan, selain itu melakukan existing products that are tailored to customer
pengembangan produk-produk yang ada yang needs. The products produced by the
disesuaikan dengan kebutuhan pelanggan. company have been widely marketed
Produk yang dihasilkan oleh perseroan telah throughout Indonesia under the “LION” brand.
dipasarkan secara luas di seluruh Indonesia
dengan menggunakan merek “LION”
Strategi Perseroan dalam mempertahankan The Company’s strategies to maintain and

dan meningkatkan penjualan dapat increase sales is carried out as follows:
dilakukankan sebagai berikut:
1. Secara Tidak Langsung 1. Indirect System
Penjualan secara tidak langsung Indirect marketing are done by:
dilakukan dengan cara:
a. Penjualan melalui distributor, dealer a. Selling through distributors, dealer and
dan supplier yang tersebar di seluruh suppliers in various regions in
Indonesia. Indonesia.
Umumnya untuk produk-produk Generally for standard products such as
standard seperti seperti filing cabinet, filing cabinets, cupboards, safes, chairs,
lemari, brankas, kursi, meja dan produk tables and other standard products.
standard lainnya.
b. Penjualan melalui konsultan dan b. Sales through consultants and project

supplier proyek umumnya dilakukan suppliers are generally carried out to
untuk memenuhi kebutuhan proyek- meet the needs of projects such as
proyek seperti jenis produk types of office supplies and furniture,
perlengkapan kantor dan furniture, construction equipment, racking for
barang-barang konstruksi, rak-rak warehouses, partitions and others.
untuk gudang, partisi dan lain lain.
2. Secara Langsung 2. Direct System

a. Penjualan secara langsung umumnya a. We also use direct sales method to
untuk memenuhi permintaan proyek- bid for projects in various regions in
proyek yang tersebar di seluruh Indonesia.
Indonesia.
b. Penjualan melalui e-Commerce b. Sales through e-Commerce (through
(melalui website resmi Perseroan yaitu the Company's official website, namely
lionmetal store serta melalui Lionmetal Store and through currently
marketplace yang tersedia saat ini available marketplaces such as
seperti Tokopedia, Shopee, Bukalapak, Tokopedia, Shopee, Bukalapak, and
dan Tiktok Shop). Tiktok Shop).

3. Ekspor 3. Exports
Target dan Realisasi Tahun 2022 Year 2022 Targets and Realizations
Serta Proyeksi 2023 and Year 2023 Projections
Pada tahun 2022 penjualan neto Perseroan In 2022, the Company's net sales was
mencatatkan sebesar Rp408,81 miliar Rp408.81 billion, an increase of 36.14% or
meningkat sebesar 36,14% atau Rp108,53 Rp108.53 billion compared to Rp300.28 billion
miliar dibandingkan tahun 2021 sebesar in 2021. Realization of net sales in 2022
Rp300,28 miliar. Realisasi penjualan neto reached 113.56% of the target set in 2022,
tahun 2022 mencapai 113,56% dari target which was Rp360 billion.
yang ditetapkan pada tahun 2022 yaitu Rp360
miliar.
Perseroan tidak dapat memenuhi target laba The Company did not meet its net profit target
bersih tahun 2022. Perseroan mencatat laba in Year 2022. It had a net profit of Rp2.31
bersih sebesar Rp2,31 miliar lebih rendah billion, 87.17% lower than the target of Rp18
sebesar 87,17% dari yang ditargetkan yaitu billion.
Rp18 miliar.
Di tahun 2023 Perseroan telah For Year 2023, the Company is targeting sales
memproyeksikan penjualan neto sebesar of Rp450 billion.
Rp450 miliar.
KEBIJAKAN DIVIDEN DIVIDEND POLICY
Setiap Pemegang Saham mempunyai hak yang Every shareholder has equal rights to dividend
sama atas Dividen. Direksi mengusulkan payment. The Board of Directors proposes the
pembagian dividen kedalam Rapat Umum distribution of dividends at the General Meeting
Pemegang Saham untuk dimintakan of Shareholders for approval after considering
persetujuan dengan mempertimbangkan the company's financial condition for the year,
kondisi keuangan Perseroan tahun time and method of payment in accordance
bersangkutan, waktu dan cara pembayaran with the rules of the Indonesia Stock Exchange.
sesuai dengan peraturan Bursa Efek Indonesia.
Adapun kebijakan yang telah disepakati saat The policy that has been agreed upon at the
IPO (Initial Public Offering) adalah dengan time of IPO (Initial Public Offering) was 20% of
tingkat rasio 20% dari laba bersih tahun the net profits of the year concerned.
bersangkutan.
Pada tanggal 15 Juli 2022 Rapat Umum On July 15, 2022, at the General Meeting of
Pemegang Saham (RUPS), sehubungan Shareholders (GMS), there was no distribution
Perseroan mengalami kerugian sehingga tidak of dividends for the financial year 2021 as the
ada pembagian dividen untuk tahun buku 2021. Company was experiencing a loss. During the
Selama 3 tahun terakhir Perseroan tidak last 3 years the Company has not distributed
membagikan dividen. dividends.

Prospek Usaha
Business Prospect
Perekonomian global pada 2023 dihadapkan The global economy in 2023 will face a
pada perlambatan dan tingginya ketidakpastian slowdown and high uncertainty influenced by
yang dipengaruhi oleh pengetatan kebijakan aggressive monetary policy tightening in
moneter yang agresif di negara maju dan developed countries and Russia's ongoing war
perang Rusia dengan Ukraina yang masih with Ukraine. Multinational institutions such as
berlangsung. Lembaga multinasional seperti the International Monetary Fund (IMF), the
Dana Moneter Internasional (IMF), Bank Dunia World Bank and world rating agencies such as
hingga lembaga rating dunia seperti Fitch Fitch Ratings and Moody's Analytics have cut
Ratings dan Moody’s Analytics sudah their global economic growth projections for
memangkas proyeksi pertumbuhan ekonomi 2023 many times. The IMF has cut its 2023
global untuk 2023 berkali-kali. IMF sudah global economic forecast from 4.4% in the
memangkas proyeksi ekonomi global 2023 dari January forecast, 3.2% in April, and to 2.7% in
4,4% pada forecast Januari, 3,2% pada April, the October forecast, which is lower than 3.2%
dan menjadi 2,7% pada forecast Oktober, lebih in 2022.
rendah dari 3,2% di tahun 2022.
Sejumlah faktor diperkirakan akan membebani A number of factors are expected to weigh on
pertumbuhan ekonomi global mulai dari global economic growth, starting from tight
ketatnya kebijakan moneter di sejumlah monetary policies in a number of countries, the
negara, perang Rusia-Ukraina, lonjakan inflasi, Russia-Ukraine war, soaring inflation, the
ancaman resesi, hingga melambatnya threat of recession, to slowing global trade.
perdagangan global. Tekanan inflasi yang Inflationary pressures are still high, although
masih tinggi, meskipun mulai melandai, starting to ease off, due to continuing supply
dipengaruhi berlanjutnya gangguan rantai chain disruptions and tight labor markets,
pasokan dan ketatnya pasar tenaga kerja especially in the US and Europe.
terutama di AS dan Eropa.
Masih tingginya inflasi dan kebijakan moneter It is this persistently high inflation and tight
ketat inilah yang dikhawatirkan membawa monetary policy that are feared to bring the
dunia ke jurang resesi. IMF memperkirakan dua world to the brink of recession. The IMF predicts
pertiga ekonomi dunia akan berada di jurang that two-thirds of the world's economy will be
resesi tahun 2023. in recession by 2023.
Selain kebijakan moneter ketat, perkembangan In addition to the tight monetary policy, the
perang Rusia-Ukraina akan sangat menentukan development of the Russo-Ukrainian war will be
laju inflasi dan pertumbuhan global. Jika perang decisive inflation rate and global growth. If the
usai, optimisme akan pertumbuhan ekonomi war is over, optimism for global economic
global bisa meningkat. Peran Rusia sebagai growth could increase. Russia's role as a major
eksportir besar di bidang komoditas energi dan exporter in the field of energy and commodity
pangan akan sangat menentukan laju inflasi. commodities food will greatly determine the
rate of inflation.
Sentimen positif pertumbuhan ekonomi global Positive sentiment for global economic growth
diharapkan datang dari Tiongkok, sebagai is expected to come from China, as the country
negara dengan ekonomi terbesar kedua di with the second largest economy in the world
dunia yang mulai mengendurkan kebijakan which has begun to relax its Covid policies so
Covidnya sehingga roda ekonomi Tiongkok bisa that China's economy can grow better in 2023.
bertumbuh lebih baik di tahun 2023.
Di tengah gejolak ekonomi global yang belum In the midst of the global economic turmoil that
mereda, ekonomi Indonesia terus has not subsided, the Indonesian economy
menunjukkan ketahanan dan prospek yang continues to show resilience and good
cukup baik. prospects.

Bank Indonesia memperkirakan pertumbuhan Bank Indonesia predicts that Indonesia's
ekonomi Indonesia pada 2023 tetap kuat pada economic growth in 2023 will remain strong in
kisaran 4,5-5,3% yang didukung oleh konsumsi the range of 4.5-5.3% supported by private
swasta, investasi, dan tetap positifnya kinerja consumption, investment and continued
ekspor di tengah pertumbuhan ekonomi global positive export performance amidst slowing
yang melambat, sedangkan angka inflasi global economic growth, while the inflation rate
berkisar 3.25 - 3.75%, lebih baik dibandingkan is around 3.25 - 3.75%, better than December
inflasi (y-on-y) Desember tahun 2022 sebesar 2022 inflation (y-on-y) of 5.51%.
5,51%.
Pencabutan Pemberlakuan Pembatasan The lifting of the Community Activity Restriction

Kegiatan Masyarakat (PPKM) yang dilakukan Enforcement (PPKM) at the end of 2022 is a
pada akhir 2022, menjadi sinyal positif dari bagi positive signal for the Indonesian economy in
perekonomian Indonesia di tahun 2023. 2023. The government maintains the Central
Pemerintah mempertahankan Satgas Covid-19 and Regional Covid-19 Task Force to respond if
Pusat dan Daerah untuk merespons bila ada there is a rapid spread and also continues social
penyebaran yang cepat dan juga melanjutkan assistance for the community, vitamins and
bantuan sosial bagi masyarakat, bantuan medicines will still be available at designated
vitamin dan obat-obatan akan tetap tersedia di health facilities, and several tax incentives will
faskes yang ditunjuk, serta beberapa insentif- also continue in 2023.
insentif pajak juga masih akan terus
dilanjutkan pada tahun 2023.
Surplus neraca perdagangan pemerintah The surplus in the Indonesian government's

Indonesia sepanjang tahun 2022 memberikan trade balance throughout 2022 provides capital
modal untuk dapat menjaga kebijakan dan to be able to maintain Indonesia's policies and
pertumbuhan ekonomi Indonesia di tahun economic growth in 2023. Government policies
2023. Kebijakan pemerintah untuk mendorong to encourage downstream industries in three
hilirisasi industri di tiga sektor, yakni industri sectors, namely agro-based industries, mining
berbasis agro, berbasis bahan tambang dan and mineral based materials, and oil and gas
mineral, serta berbasis migas dan batubara and coal based industries can cause the
dapat menimbulkan dampak berganda antara multiplier effect includes increasing the added
lain meningkatkan nilai tambah bahan baku value of domestic raw materials, increasing
dalam negeri, meningkatnya investasi, investment, generating export foreign
menghasilkan devisa ekspor, meningkatkan exchange, increasing labor absorption, and
serapan tenaga kerja, dan mendorong encouraging the growth of other sectors.
pertumbuhan sektor lainnya. Proyek-proyek Projects that were delayed during the pandemic
yang tertunda selama masa pandemi are expected to resume again. Projects running
diharapkan akan kembali berjalan lebih lancar. in 2023 and growth in sectors related to
Proyek-proyek yang berjalan tahun 2023 dan infrastructure such as distribution and logistics
pertumbuhan sektor-sektor yang berkaitan will provide opportunities for the company to
dengan infrastruktur seperti distribusi dan capture in 2023.
logistik akan memberikan peluang bagi kinerja
Perseroan yang lebih baik di tahun 2023.

TATA KELOLA PERUSAHAAN
Good Corporate Governance
Prinsip dan Dasar Tata Kelola
Principles and Guidelines on GCG
Komitmen terhadap 5 prinsip tata kelola A commitment to the 5 principles of good

perusahaan (Good Corporate Governance/ corporate governance (GCG) comprising
GCG) yang baik meliputi transparansi, transparency, accountability, responsibility,
akuntabilitas, tanggung jawab, independensi independence and fairness, at all levels of the
dan kewajaran, dalam seluruh tingkatan organization can provide benefits to the
organisasi dapat memberikan manfaat bagi Company and shareholders. The Company, as
Perseroan dan pemegang saham. Tanggung an entity in the territory of Indonesia, has
jawab Perseroan sebagai suatu entitas yang the responsibility to comply with all applicable
berada di wilayah Indonesia untuk mematuhi regulations and laws.
segala ketentuan dan perundang-undangan
yang berlaku.
Pentingnya Tata Kelola Perusahaan yang Baik Good Corporate Governance is important for
merupakan dasar dalam menjaga kinerja yang maintaining a sustainable performance in
berkelanjutan dalam mencapai misi dan visi achieving the Company's mission and vision,
Perseroan, memastikan efektifitas dan efisiensi ensuring the effectiveness and efficiency of
operasi dan pengawasan bisnis meningkatkan operations and business supervision, increasing
nilai berkelanjutan kepada pemegang saham sustainable value to shareholders and
dan meningkatkan daya saing Perseroan dalam increasing the Company's competitiveness in
industri. the industry.
Dasar-dasar bagi implementasi dan The guidelines for the implementation and
pengembangan tata kelola perusahaaan antara development of good corporate governance are:
lain:
1. Law No.40/2007 on Limited Liability
1. Undang-Undang Republik Indonesia Companies (The Company Law).
No.40/2007 tentang Perseroan Terbatas
(Undang–Undang Perseroan).
2. Financial Services Authority (OJK)
2. Peraturan Otoritas Jasa Keuangan (OJK) regulation No.21/POJK.04/2015 dated 16
No.21/POJK.04/2015 tanggal 16 November 2015 on the implementation of
November 2015 tentang Penerapan the integrated Governance Guidelines for
Pedomaan Tata Kelola PerusahaanTerbuka. Listed Companies.
3. Surat Edaran Otoritas Jasa Keuangan(OJK) 3. Financial Services Authority (OJK) Circular
No.32/SEOJK.04/2015 tanggal 17 letter No.32/SEOJK.04/2015 dated 17
November 2015 tentang Pedoman Tata November 2015 on the Implementation of
Kelola Perusahaan Terbuka. the Integrated Governance Guidelines for
listedCompanies.

Penerapan Aspek dan Prinsip Tata Kelola Perusahaan Terbuka
The Implementation of Aspects and Principles of Good Governance of the Company
Prinsip dan Rekomendasi Penerapan di Perseroan

Principle and Recommendation Implementation in the Company
Prinsip 1 / Principle 1
Meningkatkan Nilai Penyelenggaraan Rapat Umum Pemegang Saham (RUPS)
To Increase the value of General Meeting of Shareholders’(GMS)
a. Perusahaan Terbuka memiliki cara atau Telah terpenuhi.

prosedur teknis pengumpulan suara (voting) Prosedur pengumpulan suara (voting) tercantum di
baik secara terbuka maupun tertutup yang dalam tata tertib RUPST Rapat dilakukan secara
mengedepankan independensi, dan electronik dengan menggunakan sistem eASY.KSEI.
kepentingan pemegang saham.
Has been fulfilled.
Public Company has methods or procedures
Voting procedures are listed in the AGMS Rules of
of voting, both open and close voting, in
order to promote independence and interests Procedure. Meetings are conducted electronically
of shareholders. using the eASY.KSEI system.
b. Seluruh anggota Direksi dan anggota Dewan 4 (empat) anggota Direksi dan 1 (satu) anggota Dewan
Komisaris Perusahaan Terbuka hadir dalam Komisaris Perseroan yang hadir secara fisik. Komisaris
RUPS Tahunan. dan Direktur lainnya tidak hadir secara fisik, karena
situasi pandemi dan penerapan ketentuan Pemberlakuan
All members of the Board of Directors and
Pembatasan Kegiatan Masyarakat (PPKM).
Board of Commissioners of the public
company are present at the Annual GMS. 4 (four) members of the Board of Directors and 1 (one)
member of the Company's Board of Commissioners
were physically present. The other Commissioners and
Directors were not physically present, due to the
pandemic situation and the Implementation of
Restrictions on Community Activities (PPKM).
c. Ringkasan risalah RUPS tersedia dalam situs Telah terpenuhi.

web Perusahaan Terbuka paling sedikit Ringkasan risalah RUPS tersedia dalam situs web
selama 1 (satu) tahun. Perseroan, yaitu www.lionmetal.co.id selama lebih dari
satu tahun.
The summary of meeting minutes of the
GMS is available on the public company Has been fulfilled.
website for at least 1 (one) year.
The summary minutes of GMS are available on the
Company’s website, namely www.lionmetal.co.id, for
more than a year.
Meningkatkan Kualitas Komunikasi Perusahaan Terbuka dengan Pemegang Saham atau Investor.
Increasing the Quality of Communication Between the Public Company and Shareholders or investors.
a. Perusahaan Terbuka memiliki suatu Telah terpenuhi.

kebijakan komunikasi dengan pemegang
saham atau investor Perseroan memiliki kebijakan komunikasi dengan
pemegang saham atau investor melalui situs web, media
The public company has a communication cetak dan elektronik ataupun media komunikasi lainnya.
policy with shareholders or investors.
Has been fulfilled.
The Company had a communication policy with
shareholders or investors. Communication is through its
website, printed and electronic media and other
communication channels.

Meningkatkan Kualitas Komunikasi Perusahaan Terbuka dengan Pemegang Saham atau Investor.
Increasing the Quality of Communication Between the Public Company and Shareholders or Investors.
b. Perusahaan Terbuka mengungkapkan Telah terpenuhi.
kebijakan komunikasi Perusahaan Terbuka Situs web www.lionmetal.co.id merupakan sarana
dengan pemegang saham atau investor komunikasi antara Perseroan dengan pemegang saham
dalam situs web.
atau investor yang digunakan Perseroan untuk
The public company discloses its pengumuman-pengumuman penting.
communication policy with shareholders/
investors on its website. Has been fulfilled.
The www.lionmetal.co.id website is a communication
forum between the Company and its shareholders or
investors, which the Company uses for important
announcements.
Memperkuat Komposisi dan Keanggotaan Dewan Komisaris
Strengthening the Membership and Composition of the Board of Commissioners.
a. Penentuan jumlah anggota Dewan Telah terpenuhi.

Komisaris mempertimbangkan kondisi
Perusahaan Terbuka. Jumlah anggota Dewan Komisaris telah sesuai dengan
kondisi Perseroan dan Anggaran Dasar Perseroan. Hal
The stipulation on the number of ini telah disetujui oleh pemegang saham lewat RUPS.
commissioners will depend on the
condition of the public company. Has been fulfilled.
The number of members on the Board of
Commissioners is appropriate for the state of the
Company and in accordance with the Company’s
Articles of Association. This has been approved by the
shareholders through the GMS.
b. Penentuan komposisi anggota Dewan Telah terpenuhi

Komisaris memperhatikan keberagaman Komposisi anggota Dewan Komisaris Perseroan
keahlian, pengetahuan, dan pengalaman dengan mempertimbangkan keberagaman keahlian,
yang dibutuhkan.
pengetahuan dan pengalaman serta karakteristik
The composition of the Board of secara individu sebagaimana tercermin di Profil
Commissioners should reflect the diversity of Dewan Komisaris pada halaman 42-44.
required skills, knowledge, and experiences.
Has been fulfilled.
The composition of the Board of Commissioners had
taken into account the diversity of expertise,
knowledge and experience as well as individual
characteristics as reflected in the Profile of the Board
of Commissioners on pages 42 - 44
Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Dewan Komisaris.
Increasing the Quality of Performing Duties and Responsibilities of Board of Commissioners
a. Dewan Komisaris mempunyai kebijakan Perseroan masih merumuskan dan mengembangkan
penilaian sendiri (self assessment) untuk kebijakan penilaian sendiri (self assessment).
menilai kinerja Dewan Komisaris.
The Company is still formulating and developing its own
The Board of Commissioners has a self assessment policy (self assessment).
assessment policy to evaluate the
performance of the Board of
Commissioners.
b. Kebijakan penilaian sendiri (self Perseroan masih merumuskan dan mengembangkan

assessment) untuk menilai kinerja Dewan kebijakan penilaian sendiri (self assessment).
Komisaris, diungkapkan melalui Laporan
Tahunan Perusahaan Terbuka. The Company is still formulating and developing its own
assessment policy (self assessment).
The self assessment policy that evaluates
the performance of the Board of
Commissioners is disclosed in the Annual
Report of the Public Company.

Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Dewan Komisaris.
Increasing the Quality of Performing Duties and Responsibilities of Board of Commissioners
c. Dewan Komisaris mempunyai kebijakan Telah terpenuhi.

terkait pengunduran diri anggota Dewan Dewan Komisaris mengikuti ketentuan peraturan dan
Komisaris apabila terlibat dalam kejahatan perundang-undangan yang berlaku terkait
keuangan. pengunduran diri anggota Dewan Komisaris apabila
The Board of Commissioners has a terlibat dalam kejahatan keuangan sebagaimana
resignation policy if a commissioner is tertuang dalam Pedoman Kerja Dewan Komisaris dan
involved in a financial crime. Kode Etik.
Has been fulfilled.
The Board of Commissioners follows the provisions of
prevailing laws and/or regulations related to financial
crimes as stipulated in the Board of Commissioners
Work Guidelines and the Code of Ethics.
d. Dewan Komisaris atau Komite yang Fungsi Komite Nominasi dan remunerasi Perseroan
menjalankan fungsi Nominasi dan Remunerasi dirangkap oleh Dewan Komisaris. Perseroan belum
menyusun kebijakan suksesi dalam proses menyusun kebijakan suksesi dalam proses nominasi
Nominasi anggota Direksi. anggota Direksi.
The Board of Commissioners or a Committee The function of the Company's Nomination and
performs the nomination and remuneration Remuneration Committee is concurrently performed by
functions and arranges a succession policy in the Board of Commissioners. The Company had not
the process of nominating a director. formulated policies for the nomination process for
candidates as members of the Board of Directors.
Memperkuat Keanggotaan dan Komposisi Direksi.
Strengthening the Membership and Composition of Board of Directors
a. Penentuan jumlah anggota Direksi Telah terpenuhi.
mempertimbangkan kondisi Perusahaan Jumlah anggota Direksi Perseroan telah
Terbuka serta efektifitas dalam pengambilan mempertimbangkan dengan kondisi Perseroan dan
keputusan. efektifitas dalam pengambilan keputusan.
The stipulation of the number of directors Has been fulfilled.
will take into account the condition of the The number of members on the Board of Directors is
Public Company as well as the effectiveness appropriate for the state of the Company and is in
in decision making. accordance with the Company’s Articles of Association.
The Board of Directors is effective in its decision making
with the current number of members on the Board of
Directors.
b. Penentuan komposisi anggota Direksi Telah terpenuhi.

memperhatikan, keberagaman keahlian, Komposisi anggota Direksi Perseroan memperhatikan
pengetahuan, dan pengalaman yang keberagaman keahlian, pengetahuan dan pengalaman
dibutuhkan. yang dibutuhkan serta karakteristik anggota Direksi
secara individu guna tercapainya tujuan Perseroan, hal
The composition of the Board of Directors
tersebut tercermin dari profil masing-masing anggota
had taken into account the diversity of
Direksi.
required skills, knowledge and experiences.
Has been fulfilled.
The composition of the members of the Board of Directors
has already observed the diversity of the expertise,
knowledge and experience needed as well as the
characteristics of individual members of the Board of
Directors in order to achieve the Company's objectives,
these are reflected in the profiles of each member of
the Board of Directors.
c. Anggota Direksi yang membawahi bidang Telah terpenuhi.

akuntansi atau keuangan memiliki keahlian Perseroan memiliki anggota Direksi yang membawahi
dan/atau pengetahuan di bidang akuntansi. bidang akuntansi dan keuangan serta memiliki
pengalaman dan pengetahuan di bidang Keuangan.
The director who oversees accounting or
finance has the skills and/or knowledge in Has been fulfilled.
accounting The Company had Directors who are in charge of
accounting and finance and they have the necessary
experience and knowledge in Finance.

Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Direksi.
Increasing the Quality of Performing Duties and Responsibilities of Board of Directors
a. Direksi mempunyai kebijakan penilaian sendiri Direksi masih merumuskan dan mengembangkan
(self assessment) untuk menilai kinerja kebijakan penilaian sendiri (self assessment).
Direksi.
The Board of Directors is still formulating and developing
The Board of Directors has a self assessment its own assessment policy (self assessment).
policy to evaluate the performance of the
Board of Directors
b. Kebijakan penilaian sendiri (self assessment) Perseroan masih merumuskan dan mengembangkan
untuk menilai kinerja Direksi diungkapkan kebijakan penilaian sendiri (self assessment).
melalui laporan tahunan Perusahaan Terbuka.
The Company is still formulating and developing its own
The self assessment policy that evaluates assessment policy (self assessment).
the performance of the Board of Directors is
disclosed in the Annual Report of the Public
Company
c. Direksi mempunyai kebijakan terkait Telah terpenuhi

pengunduran diri anggota Direksi apabila Direksi mengikuti ketentuan peraturan dan perundang-
terlibat dalam kejahatan keuangan. undangan yang berlaku terkait pengunduran diri anggota
Direksi apabila terlibat dalam kejahatan keuangan
The Board of Directors has a resignation policy sebagaimana tertuang dalam Pedoman Kerja Direksi dan
if a member is involved in a financial crime.
Kode Etik.
Has been fulfilled
The Board of Directors follows the provisions of prevailing
laws and/or regulations related to financial crimes as
stipulated in the Board of Directors Work Guidelines and
the Code of Ethics.
Meningkatkan Aspek Tata Kelola Perusahaan melalui Partisipasi Pemangku Kepentingan.
Increasing the Company’s Governance Aspect Through Stakeholders’ Participation
a. Perusahaan Terbuka memiliki kebijakan Perseroan mempunyai kebijakan untuk patuh
untuk mencegah terjadinya insider trading. terhadap peraturan atau perundang-undangan yang
berlaku untuk mencegah insider trading dan akan
The Public Company has the policy to menindak tegas apabila terbukti jika ada pegawai
prevent the occurrence of insider trading. yang terbukti dalam insider trading.
The Company has a policy to comply with prevailing
laws and regulations to prevent insider trading and will
be firm if any employee is proven to be involved in
insider trading.
b. Perusahaan Terbuka memiliki kebijakan anti Telah terpenuhi.

korupsi dan anti fraud. Perseroan mendukung Pemerintah dalam memberantas
The Public Company has anti- corruption and korupsi. Kebijakan anti korupsi tertuang dalam
anti fraud polices. Perjanjian Kerja Bersama (PKB).
Has been fulfilled.

The Company supports the Government in the
eradication of corruption. The anti-corruption policy is
set out in the Collective Labor Agreement (PKB).
c. Perusahaan Terbuka memiliki kebijakan Telah terpenuhi.

tentang seleksi dan peningkatan kemampuan Perseroan memiliki kebijakan tentang seleksi secara
pemasok atau vendor. umum sesuai prosedur dan standar kualitas yang sudah
ditentukan.
The Public Company has a policy on selection
and upgrading the capabilities of suppliers or Has been fulfilled.
vendors.
The Company has a policy regarding general selection
in accordance with predetermined quality standards and
procedures.

Meningkatkan Aspek Tata Kelola Perusahaan melalui Partisipasi Pemangku Kepentingan.
Increasing the Company’s Governance Aspect Through Stakeholders’ Participation
d. Perusahaan Terbuka memiliki kebijakan Telah terpenuhi.
tentang pemenuhan hak- hak kreditur.
Perseroan memiliki kebijakan terkait pemenuhan
The Public Company has a policy on fulfilment hak-hak kreditur. Perseroan berkomitmen untuk
of creditors’ rights. memenuhi persyaratan yang telah disepakati untuk
kepentingan bersama
Has been fulfilled
The company has a policy related to the fulfillment of
creditor rights. The Company is committed to fulfilling
the agreed terms for the common good.
e. Perusahaan Terbuka memiliki kebijakan Perseroan menyediakan email, kotak-kotak saran dan
sistem whistleblowing. alamat email khusus bagi siapa yang akan
The Public Company has a whistleblowing menyampaikan informasi dan laporan tentang
system policy. kemungkinan pelanggaran. Laporan-laporan ini
ditangani oleh seorang Direktur dan kerahasiaannya
tetap dijaga.
The Company provides email, suggestion boxes and a

dedicated email address for anyone to submit
information and reports on possible violations. These
reports are handled directly by a Director and
confidentiality is maintained.
f. Perusahaan Terbuka memiliki kebijakan Perseroan memiliki kebijakan pemberian insentif

pemberian insentif jangka panjang kepada jangka panjang untuk seluruh karyawan tertuang
Direksi dan karyawan. dalam PKB.
The Public Company has a policy on giving The Company has a policy of providing long-term
long-term incentives to Directors and incentives for all employees as stated in the PKB.
employees.
Meningkatkan Pelaksanaan Keterbukaan Informasi.
Increasing the Implementation of Information Disclosure.
a. Perusahaan Terbuka memanfaatkan Perseroan menggunakan teknologi informasi sebagai

penggunaan teknologi informasi secara lebih media keterbukaan informasi yaitu situs web Perseroan
luas selain Situs Web sebagai media dan situs web IDX.
keterbukaan informasi.
The Company utilizes information technology for
Besides its website, the Public Company information disclosure, namely the Company website
should utilize information technology more and IDX website.
widely as a medium of information disclosure
b. Laporan Tahunan Perusahaan Terbuka Perseroan telah mengungkapkan pemegang saham

mengungkapkan pemilik manfaat akhir dalam Perseroan yang memiliki 5% saham atau lebih,
kepemilikan saham Perusahaan Terbuka Pemegang saham utama dan pengendali dalam
paling sedikit 5% (lima persen), selain laporan Tahunan pada halaman 15
pengungkapan pemilik manfaat akhir dalam
The Company had disclosed the Company's
kepemilikan saham Perusahaan Terbuka
shareholders who own 5% or more shares and the main
melalui pemegang saham utama dan
and controlling shareholders in the Annual Report on
pengendali.
page 15.
The Annual Report of the Public Company
discloses the final beneficial owners of at least
5% (five percent) share in the Public Company,
in addition to the disclosure of the final
beneficial ownership of the Public Company
through the main shareholder and controller.

Rapat Umum Pemegang Saham
General Meeting of Shareholders
Sesuai dengan Undang-Undang No. 40 tahun General Meeting of Shareholders (GMS) is an

2007 Rapat Umum Pemegang Saham (RUPS) organ of the Company whose authority cannot
adalah organ Perusahaan yang mempunyai be delegated to the Board of Directors or Board
wewenang yang tidak diberikan kepada Direksi of Commissioners within limits specified in
atau Dewan Komisaris dalam batas yang this Act and/or the Articles of Association. The
ditentukan dalam Undang-Undang ini dan/atau implementation of the GMS is regulated by
Anggaran Dasar. Penyelenggaraan RUPS diatur OJK Regulation No. 15/POJK.04/2020 dated
oleh Peraturan OJK No.15/POJK.04/2020 21 April 2020 concerning the Planning and
tanggal 20 April 2020 tentang Rencana dan Implementation of GMS of Public Companies
Penyelenggaraan RUPS Perusahaan Terbuka and OJK Regulation No.16/POJK.04/2020 dated
dan Peraturan OJK No.16/POJK.04/2020 20 April 2020 concerning the Implementation of
tanggal 20 April 2020 tentang Pelaksanaan Electronic GMS of Public Companies and the
RUPS Perusahaan Terbuka secara Elektronik Articles of Association of the Company.The GMS
serta Anggaran Dasar Perseroan. RUPS is the organ of the Company that holds the
merupakan organ Perseroan yang memegang highest authority. GMS is a forum for
kekuasaan tertinggi. RUPS sebagai wadah para shareholders to make decisions by taking into
pemegang saham untuk mengambil keputusan account the provisions of the Articles of
dengan memperhatikan ketentuan Anggaran Association and Legislation.
Dasar dan Peraturan Perundang-undangan.
Kewenangan RUPS antara lain mengangkat dan The powers of the GMS include appointing and
memberhentikan anggota Dewan Komisaris dismissing members of the Board of
dan Direksi, mengevaluasi kinerja Dewan Commissioners and the Board of Directors,
Komisaris dan Direksi, menyetujui perubahan evaluating the performance of the Board of
Anggaran Dasar, menyetujui Laporan Tahunan Commissioners and the Board of Directors,
Perseroan, menunjuk auditor independen approving amendments to the Articles of
Perseroan, memutuskan alokasi keuntungan Association, approving the Company's Annual
usaha, menetapkan remunerasi. RUPS Report, appointing the Company's independent
dan/atau Pemegang Saham tidak dapat auditors, deciding the allocation of operating
melakukan intervensi terhadap tugas, fungsi profits, and determining remuneration. The
dan wewenang Dewan Komisaris dan Direksi GMS and/or the Shareholders may not
dengan tidak mengurangi wewenang RUPS intervene in the duties, functions and
untuk menjalankan haknya sesuai dengan authorities of the Board of Commissioners and
Anggaran Dasar dan Peraturan Perundang- the Board of Directors without reducing the
undangan. authority of the GMS to exercise their rights in
accordance with the Articles of Association and
the Laws and Regulations.
Penyelenggaraan RUPS didahulukan dengan The holding of the GMS is preceded by

pengumuman kepada pemegang saham paling notification to the shareholders that at least
kurang memuat informasi tanggal RUPS dan contains information on the date of the GMS
tanggal pemanggilan RUPS. Kemudian and the date of the GMS invitation. Then an
dilakukan pemanggilan RUPS paling kurang invitation to the GMS shall be made at least
memuat informasi tanggal, waktu, tempat, containing information on the date, time, place,
pemegang saham yang berhadir dan mata shareholders who can attend and the agenda.
acara.
RUPS terdiri atas RUPS Tahunan dan RUPS The GMS consists of the Annual GMS and other
lainnya (disebut juga RUPS Luar Biasa). RUPS GMS (also called Extraordinary GMS). The
Tahunan wajib diselenggarakan dalam jangka Annual GMS must be held no later than 6
waktu paling lambat 6 bulan setelah tahun buku months after the end of the financial year.
berakhir. RUPS Luar Biasa dapat Extraordinary GMS may be held at any time as
diselenggarakan setiap waktu sesuai needed for the benefit of the Company.
kebutuhan untuk kepentingan Perseroan.

Dalam setiap pelaksanaan RUPS, Perseroan In any GMS execution, the Company appoints a
menunjuk pihak ketiga dalam hal ini Notaris third party, in this case a Notary, to prepare
untuk membuat Risalah Rapat Pemegang Minutes of the Shareholders Meeting, and
Saham dan mengundang Biro Administrasi Efek invites the Securities Administration Bureau
(BAE) untuk mengerjakan dan mengawasi (SAB) to prepare and supervise shareholders
pendaftaran pemegang saham sesuai data registration in accordance with the data on the
recording date yang diterbitkan oleh BAE, recording date issued by SAB, in this case
dalam hal ini PT Raya Saham Registra. Di PT Raya Saham Registra. In addition, the
samping itu, Perseroan juga mengundang Company also invites supporting professionals
profesi penunjang pada saat RUPS apabila in relation to meeting agendas if needed.
diperlukan.
Ketentuan Kuorum Quorum Provisions
Kuorum kehadiran dan kuorum keputusan The quorum for GMS attendance and decisions
RUPS untuk mata acara yang harus diputuskan on agenda that must be decided in the GMS are
dalam RUPS dilakukan dengan mengikuti carried out in accordance with the following
ketentuan: provisions:
a. RUPS dapat dilangsungkan jika dalam RUPS a. The GMS can be held if more than 1/2 (one
lebih dari 1/2 (satu per dua) bagian dari half) of the total shares with voting rights
jumlah seluruh saham dengan hak suara are present or represented in the GMS,
hadir atau diwakili, kecuali anggaran dasar unless the articles of association of Public
Perusahaan Terbuka menentukan jumlah Company specify a larger quorum;
kuorum yang lebih besar;
b. Dalam hal kuorum sebagaimana dimaksud b. In the event the attendance quorum is not
pada huruf a tidak tercapai, RUPS kedua reached, a second GMS shall be valid and
dapat diadakan dengan ketentuan RUPS entitled to make binding decisions if
kedua sah dan berhak mengambil attended by Shareholders representing a
keputusan jika dalam RUPS paling sedikit minimum of 1/3 (one-third) of the total
1/3 (satu per tiga) bagian dari jumlah shares with voting rights, and decisions will
seluruh saham dengan hak suara hadir atau be valid if approved by more than 1⁄2 (one
diwakili, kecuali anggaran dasar half) of the total number of shares with the
Perusahaan Terbuka menentukan jumlah voting rights present in the meeting, unless
kuorum yang lebih besar; dan Laws and/or the Articles of Association
require a greater quorum number; and
c. Keputusan RUPS sebagaimana dimaksud c. The GMS resolutions as referred to in

pada huruf a dan huruf b adalah sah jika paragraphs a and b are valid if approved by
disetujui oleh lebih dari 1/2 (satu per dua) more than 1/2 (one half) of all shares with
bagian dari seluruh saham dengan hak voting rights present at the GMS, unless the
suara yang hadir dalam RUPS, kecuali articles of association of Public Company
anggaran dasar Perusahaan Terbuka stipulate that a larger number of votes in
menentukan bahwa keputusan adalah sah favor is required for the decision to be valid.
jika disetujui oleh jumlah suara setuju yang
lebih besar.
Dalam hal kuorum kehadiran pada RUPS kedua In the event that the quorum of attendance at
sebagaimana dimaksud pada ayat huruf b tidak the second GMS as referred to in paragraph b
tercapai, RUPS ketiga dapat diadakan dengan is not reached, the third GMS may be held
ketentuan RUPS ketiga sah dan berhak provided that the third GMS is valid and has the
mengambil keputusan jika dihadiri oleh right to make decisions if attended by
pemegang saham dari saham dengan hak suara shareholders of shares with valid voting rights
yang sah dalam kuorum kehadiran dan kuorum in the attendance quorum and decision quorum
keputusan yang ditetapkan oleh OJK atas determined by Financial Services Authority at
permohonan Perusahaan Terbuka. the request of a Public Company.

Pelaksanaan RUPS di Tahun 2022 GMS IN 2022
Perseroan telah mengadakan Rapat Umum The Company held an Annual General Meeting
Pemegang Saham (RUPS) Tahunan pada of Shareholders (AGM) on July 15, 2022 at
tanggal 15 Juli 2022 di Hotel Holiday Jakarta Holiday Inn Hotel Kemayoran, led by
Inn Jakarta Kemayoran, yang dipimpin oleh Mr. Kalistus DD Making (Independent
Bapak Kalistus DD Making (Komisaris Commissioner) based on the Board of
Independen) berdasarkan Surat Penunjukan Commissioners' Appointment Letter dated July
Dewan Komisaris tertanggal 14 Juli 2022. 14, 2022.
Pelaksanaan RUPS Tahunan sebagai berikut: The implementation of the Annual GMS is as
follows:
- Perseroan telah menyampaikan - The Company had submitted the
pemberitahuan rencana diselenggarakan- Notification of the plan to the Annual GMS
nya RUPS Tahunan kepada OJK pada to to OJK on May 31, 2022.
tanggal 31 Mei 2022.
- Perseroan menyampaikan pengumuman - The Company submitted the announcement
RUPS Tahunan kepada pemegang saham of the Annual GMS to shareholders on the
pada, situs web Bursa Efek, situs web Stock Exchange website, the Company's
Perseroan dan situs web eASY.KSEI pada website and the eASY.KSEI website on June
tanggal 08 Juni 2022. 8, 2022.
- Perseroan menyampaikan pemanggilan - The Company submitted a summons to
kepada pemegang saham pada situs web shareholders on the Company's website,
Perseroan, dan situs web eASY.KSEI pada and the eASY.KSEI website on June 23,
tanggal 23 Juni 2022. 2022.
- Ringkasan Risalah RUPS Tahunan - A summary of the Annual GMS Minutes was
diumumkan pada tanggal 15 Juli 2022 announced on July 15, 2022 through the
melalui situs web Perseroan, situs web Company’s website, Stock Exchange
Bursa Efek dan situs web eASY.KSEI. website and eASY.KSEI website.
RUPS Tahunan telah dihadiri oleh 454.913.600 The Annual GMS was attended by 454,913,600
saham atau mewakili 87,46% dari seluruh shares or representing 87.46% of the total
saham Perseroan. RUPS Tahunan dihadiri shares of the Company. The Annual GMS was
secara fisik oleh 1 (satu) orang Komisaris dan physically attended by 1 (one) of
4 (empat) orang Direksi Perseroan. Commissioners and 4 (Four) Directors of the
Company.

Keputusan RUPS Tahunan Tahun Buku 2021
Decisions of the Annual GMS Financial Year 2021
Hasil RUPS Tahunan

Results of Annual GMS Results of Annual GMS
Mata Acara Pertama
First Agenda
1. Menyetujui Laporan Tahunan Perseroan termasuk Laporan Direksi dan Laporan Pengawasan
Dewan Komisaris untuk Tahun Buku 2021; dan
2. Menyetujui pengesahan Laporan Keuangan Konsolidasian Perseroan untuk Tahun Buku 2021
yang telah diaudit oleh kantor Akuntan Publik Kosasih, Nurdiyaman, Mulyadi, Tjahjo & Rekan
sebagaimana tercantum dalam laporannya Nomor: 00499/2.1051/AU.1/04/1091-1/1/IV/2022
tanggal 25 April 2022 dengan pendapat “wajar dalam semua hal yang material”. Dengan
demikian membebaskan Anggota Direksi dan Dewan Komisaris Perseroan dari tanggung jawab
dan segala tanggungan (acquit et de charge) atas tindakan pengurusan dan pengawasan yang
telah mereka jalankan selama Tahun Buku 2021, sepajang tindakan-tindakan mereka tercantum
dalam Laporan Keuangan Konsolidasian Perseroan Tahun Buku 2021.
1. Approved the Annual Report of the Company including Directors Report and the Supervisory
Report of the Board of Commissioners for Financial Year 2021; and
2. Approved the Company's Financial Statements for Financial Year 2021 which were audited by the
Public Accountants Kosasih, Nurdiyaman, Mulyadi, Tjahjo & Rekan in their report No.
00499/2.1051/AU.1/04/1091-1/1/IV/2022 dated 25 April 2022 with the opinion "Fair in All
Material Respects". Thereby releasing the members of the Board of Directors and the Board of
Commissioners of the Company from all responsibilities and liabilities (acquit et de charge) for the
management and supervisory actions they have carried out during Financial Year 2021, as long as
their actions are contained in the Company's Consolidated Financial Statements for Financial Year
2021.
Mata Acara Kedua

Second Agenda
Menyetujui menunjuk Kantor Akutan Publik Kosasih, Nurdiyaman, Mulyadi, Tjahjo & Rekan yang
akan mengaudit buku-buku Perseroan untuk Tahun Buku 2022 serta memberi wewenang
sepenuhnya kepada Dewan Komisaris untuk menetapkan honorarium dan persyaratan-
persyaratanya, termasuk menetapkan Kantor Akuntan Publik pengganti dalam hal Kantor Akuntan
Publik yang ditunjuk tersebut, karena sebab apapun tidak dapat menyelesaikan audit atas Laporan
Keuangan Konsolidasian Perseroan Tahun Buku 2022.
Approved the appointment of the Public Accounting Firm of Kosasih, Nurdiyaman, Mulyadi, Tjahjo &
Partners to audit the Company's books for the fiscal year 2022 and to give full authority to the Board
of Commissioners to determine the honorarium and requirements including appointing a
replacement Public Accountant Firm in case the appointed Public Accountant Firm for whatever
reason, is unable to complete the audit of the Company's Consolidated Financial Statements for the
fiscal year 2022
Second Agenda

Mata Acara Ketiga
Third Agenda
1. Menyetujui mengangkat kembali seluruh Direksi Perseroan terhitung sejak ditutupnya Rapat
sampai dengan penutupan Rapat Umum Pemegang Saham Tahunan Tahun Buku 2024, yang
diselenggarakan pada tahun 2025.
Dengan demikian susunan anggota Direksi Perseroan terhitung sejak ditutupnya Rapat sampai
dengan ditutupnya Rapat Umum Pemegang Saham Tahunan Tahun Buku 2024 yang
diselenggarakan pada tahun 2025 adalah sebagai berikut:
Direksi:
- Tuan Cheng Yong Kim sebagai Direktur Utama
- Tuan Lim Tai Pong sebagai Direktur
- Tuan Ir. Krisant Sophiaan MSc sebagai Direktur
- Tuan Tjoe Tjoe Peng (Lawer Supendi) sebagai Direktur
- Tuan Cheng Zhi Wei Bsc MBA sebagai Direktur
Sedangkan anggota Dewan Komisaris Perseroan tidak mengalami perubahan sebagai berikut:
Dewan Komisaris:
- Tuan Cheng Yong Kwang sebagai Komisaris Utama
- Tuan Lee Whay Keong sebagai Komisaris
- Tuan Kalistus DD Making SE.Ak.CPAI sebagai Komisaris Inependen
2. Menyetujui memberikan kuasa kepada Direksi Perseroan dengan hak subtitusi untuk
menyatakan keputusan Rapat mengenai perubahan pengurus Perseroan tersebut dihadapan
Notaris, memberitahukan, mendaftarkan kepada pihak yang berwenang sebagaimana
diperlukan atas perubahan pengurus Perseroan tersebut serta melakukan segaia tindakan yang
diperlukan sehubungan dengan hal tersebut.
3. Menyetujui untuk memberikan kenaikan maksimum sebesar 12% dari tahun sebelumnya untuk
menentukan besarnya honorarium dan tunjangan sebesar Rp.8.000.000,- pada tahun 2022
untuk seluruh anggota Dewan Komisaris Perseroan.
4. Menyetujui memberikan kewenangan kepada Dewan Komisaris Perseroan untuk menentukan
besarnya gaji, bonus dan tunjangan tahun 2022 untuk seluruh anggota Direksi Perseroan.
1. Approved the reappointment of the Company's Board of Directors starting from the closing of the
Meeting until the closing of the Annual General Meeting of Shareholders for Financial Year 2024
which will be held in 2025.
Therefore, the composition of the Company's Board of Directors starting from the closing of the
Meeting until the closing of the Financial Year 2024 Annual General Meeting of Shareholders which
will be held in 2025 is as follows::
Board of Directors:
- Mr. Cheng Yong Kim as President Director
- Mr. Lim Tai Pong as Director
- Mr. Ir. Krisant Sophiaan MSc as Director
- Mr. Tjoe Tjoe Peng (Lawer Supendi) as Director
- Mr. Cheng Zhi Wei BSc MBA as Director
Meanwhile, the composition of the Company's Board of Directors has not changed as follows:
Board of Commissioners:
- Mr. Cheng Yong Kwang as President Commissioner
- Mr. Lee Whay Keong as Commissioner
- Mr. Kalistus DD Making SE.Ak.CPAI as Independent Commissioner

Mata Acara Ketiga
Third Agenda
2. Approved to grant power of attorney to the Board of Directors of the Company with the right
of substitution to state the decision of the Meeting regarding the change in the management
of the Company before a Notary, notify, register with the competent authorities as required
for the change in the management of the Company and take all necessary actions in this
regard.
3. Approved to provide a maximum increase of 12% from the previous year to determine the
amount of honorarium and allowances of Rp. 8,000,000,- in 2022 for all members of the
Company's Board of Commissioners..
4. Approved to authorize the Board of Commissioners of the Company to determine the amount
of salary, bonus and allowances in 2022 for all members of the Board of Directors of the
Company.
Keputusan–Keputusan yang telah diambil The resolutions adopted at the Company’s

pada RUPS Tahunan Perseroan pada tahun 2021 Annual GMS referred to above have all
2021 sebagaimana diuraikan diatas been realized.
seluruhnya telah direalisasikan.

Dewan Komisaris
Board of Commissioners
Dewan Komisaris adalah organ yang bertugas The Board of Commissioners is an organ in
melakukan pengawasan sesuai dengan charge of supervision in accordance with the
anggaran dasar serta memberi nasihat kepada articles of association and providing advice to
Direksi. the Board of Directors.
Anggota Dewan Komisaris diangkat dan The members of the Board of Commissioners
diberhentikan oleh RUPS. Anggota Dewan are appointed and dismissed by the GMS.
Komisaris diangkat untuk jangka waktu Members of the Board of Commissioners are
terhitung sejak tanggal ditetapkan oleh RUPS appointed for a period starting from the date
yang mengangkatnya dan berakhir pada determined by the GMS and ending at the close
penutupan RUPS Tahunan ke 3 (tiga) pada of the 3 (three) annual GMS at the end of 1
akhir 1 (satu) periode masa jabatan dengan (one) term of office provided that 1 (one) term
ketentuan 1 (satu) periode masa jabatan of office is 3 (three) years. A member of the
Dewan Komisaris adalah 3 (tiga) tahun. Board of Commissionners can be reappointed
Anggota Dewan Komisaris setelah masa after his or her term of office ends, according
jabatannya berakhir dapat diangkat kembali to the decision of the GMS.
sesuai keputusan RUPS.
Jumlah anggota Dewan Komisaris Perseroan The number of members of the Company’s
berjumlah 3 (tiga) orang, 1 (satu) orang Board of Commissioners is 3 (three)
diantaranya adalah Komisaris Independen. Commissioners, 1 (one) of whom is an
Independent Commissioner.
Susunan Dewan Komisaris Board of Commissioners Composition
Berdasarkan RUPS Tahunan tanggal 25 Agustus Based on the Annual GMS dated August 25,
2021 yang diaktakan dengan Akta Pernyataan 2021 which was notarized by the Deed of
Keputusan RUPS Tahunan No. 39 yang dibuat Decision of the Annual GMS No. 39 madebefore
dihadapan Fathiah Helmi, SH, notaris di Fathiah Helmi, SH, notary in Jakarta, the
Jakarta, susunan Dewan Komisaris Perseroan composition of the Company's Board of
per tanggal 31 Desember 2022 adalah sebagai Commissioners as of December 31, 2022 is
berikut: as follows:
Komisaris Utama / President Commissioner : Cheng Yong Kwang

Komisaris / Commissioner : Lee Whay Keong
Komisaris Independen / Independent Commissioner : Kalistus DD Making SE. Ak. CPAI
Komisaris Independen Independent Commissioner
Komisaris Independen adalah anggota Dewan The Independent Commissioner is a member of

Komisaris yang berasal dari pihak luar the Board of Commissioners from an external
Perrusahaan dan memenuhi persyaratan party and fulfills the requirements as an
sebagai Komisaris Independen sebagaimana Independent Commissoner as refereed to in the
dimaksud dalam POJK. Komisaris Independen POJK. The Independent Commissioner is
diangkat berdasarkan keputusan RUPS. Tidak appointed based on the resolutions of the GMS.
memiliki afiliasi maupun kepentingan apapun The Independent Commissioner does not have
terhadap Perseroan. any affiliation with or any interest in the
Company.
Perseroan memiliki 1 Komisaris Independen The Company has 1 Independent Commissioner

dari keseluruhan 3 anggota Dewan Komisaris, from a total of 3 members of the Board of
Prosentase komposisi Komisaris Independen Commissioners. The percentage of the
Perseroan 33,33%, dimana telah memenuhi composition of the Independent Commissioners
jumlah minimum yang dipersyarakat oleh OJK of the Company is 33.33%, which has met the
yaitu paling kurang 30% dari jumlah seluruh minimum number required by the OJK, which is
anggota Dewan Komisaris. at least 30% of the total members of the Board
of Commissioners.

Komisaris Independen Perseroan dijabat oleh The Independent Commissioner of the
Saudara Kalistus DD Making SE. Ak. CPAI untuk Company is Mr. Kalistus DD Making SE. Ak.
periode ke 2 dan telah memenuhi kriteria CPAI for the 2nd Periode and has met the
sebagai Komisaris Independen sesuai criteria as an Independent Commissioner in
dengan POJK No. 33/POJK.04/2014 dengan accordance with POJK No. 33/POJK.04/2014
ketentuan sebagai berikut: with the following provisions:
1. Bukan merupakan orang yang bekerja atau 1. Not a person who works or has the authority
mempunyai wewenang dan tanggung jawab and responsibility to plan, lead control or
untuk merencanakan, memimpin, supervise the activities of the Company
mengendalikan atau mengawasi kegiatan within the last 6 (six) months.
Perseroan dalam waktu 6 (enam) bulan
terakhir.
2. Tidak mempunyai saham baik langsung 2. Does not own shares either directly or
maupun tidak langsung pada Perseroan. indirectly in the Company
3. Tidak mempunyai hubungan afiliasi dengan 3. Has no affiliation with the Company,
Perseroan, anggota Dewan Komisaris, members of the Board of Commissioners,
anggota Direksi atau Pemegang Saham members of the Board of Directors or Major
Utama. Shareholders.
4. Tidak mempunyai hubungan usaha baik 4. Has no business relationship, either directly
langsung maupun tidak langsung yang or indirectly, related to the Company's
berkaitan dengan kegiatan usaha Perseroan. business activities.
Tugas, Tanggung Jawab dan Duties, Responsibilities and Authorities

Wewenang Dewan Komisaris of Board of Commissioners
Tugas, tanggung jawab dan wewenang Dewan The duties, responsibilities and authorities of
Komisaris sebagaimana diatur dalam anggaran the Board of Commissioners as set forth in the
dasar dan pedoman kerja Dewan Komisaris articles of association and working guidelines of
antara lain meliputi sebagai berikut: the Board of Commissioners include the
following:
1. Melaksanakan tugas dan tanggung jawab 1. Being obliged to carry out duties and
dengan itikad baik, penuh tanggung jawab responsibilities as with good integrity, full
dan kehati-hatian; responsibility and prudent manner;
2. Melakukan pengawasan dan bertanggung 2. Conducting oversight and being responsible
jawab atas pengawasan terhadap kebijakan for control of management policies and its
pengurusan dan jalannya pengurusan dan operational process and giving advice to the
memberi nasihat kepada Direksi; Board of Directors;
3. Memastikan Direksi mengelola Perseroan 3. Ensuring that the Board of Directors
dengan baik sesuai visi dan misi Perseroan; manages the Company well in accordance
with the Company’s vision and mission;
4. Menelaah dan memberikan arahan 4. Reviewing and providing directions
mengenai strategi dan rencana kerja regarding strategies and work plans of the
Perseroan; Company;
5. Memantau pelaksanaan dan kinerja 5. Monitoring the Company’s performance and
Perseroan dan mengawasi pengeluaran supervising working capital expenditures,
modal kerja, akuisisi/investasi dan acquisitions/investments and divestments;
divestasi;
6. Memantau penerapan praktik Tata Kelola 6. Monitoring of the implementation of Good
Perusahaan yang baik; Corporate Governance;
7. Membentuk Komite Audit dan dapat 7. Forming an Audit Committee and other
membentuk komite lainnya bila diperlukan committees if necessary to support the
untuk mendukung efektifitas pelaksanaan effectiveness of performing the duties and
tugas dan tanggung jawab Dewan responsibilities of the Board of
Komisaris, serta mengevaluasi kinerja Commissionners as well as evaluating the
komite tersebut; performance of such committees;

8. Apabila semua anggota Direksi 8. If all members of the Board of Directors are
diberhentikan untuk sementara dan temporarily discharged and the Company
Perseroan tidak mempunyai seorang pun has no Directors, the Board of
anggota Direksi, maka Dewan Komisaris Commissioners has the right to grant
berhak untuk memberikan wewenang temporary power to one or more members
kepada seorang atau lebih anggota Dewan of the Board of Commissioners to
Komisaris untuk mengurus Perseroan temporary manage the Company.
sementara.
Pedoman Dewan Komisaris Board of Commissioners Charter
Sebagai bentuk pemenuhan POJK No. 33 tahun As a form of compliance with POJK No. 33 of
2014, Dewan Komisaris telah menyusun dan 2014, the Board of Commissioners has
menandatangani pedoman kerja yang compiled and signed the work guidelines listed
tercantum dalam Pedoman Dewan Komisaris in the Board of Commissioners Guidelines,
diantaranya mengenai keanggotaan Dewan including regarding the membership of the
Komisaris, masa jabatan dan rangkap jabatan, Board of Commissioners, term of office and
tugas dan tanggung jawab Dewan komisaris concurrent positions, duties and responsibilities
dan Rapat Dewan Komisaris. of the Board of Commissioners and Board of
Commissioners Meetings.
Rapat Dewan Komisaris dan Rapat Board of Commissioners Meeting and

Gabungan dengan Direksi Joint Meeting with the Board of
Directors
Sesuai Anggaran Dasar Perseroan, Dewan In accordance with the Company's Articles of
Komisaris wajib mengadakan rapat secara Association, the Board of Commissioners is
berkala paling kurang 1 (satu) kali dalam 2 required to hold regular meetings at least 1
(dua) bulan dan dapat diadakan setiap waktu (one) time in 2 (two) months and may be
apabila dianggap perlu. held at any time if deemed necessary.
Pada tahun 2022, Dewan Komisaris In 2022, the Board of Commissioners held 7
mengadakan rapat dan atau telekonferensi (seven) meetings and/or teleconferences
sebanyak 7 (tujuh) kali dengan dihadiri oleh attended by the entire Board of Commissioners.
seluruh Dewan Komisaris.
Dewan Komisaris juga mengadakan rapat The Board of Commissioners also holds joint
gabungan dengan Direksi. Pada tahun 2022, meetings with the Board of Directors. In 2022,
rapat gabungan dan/atau telekonferensi 4 (four) joint meetings and/or teleconference
diadakan sebanyak 4 (empat) kali rapat, were held, attended by all Directors and
dengan dihadiri oleh seluruh Direksi dan Commissioners.
Komisaris.
Rapat Komisaris Rapat Gabungan

Commissioners Meetings Joint Meetings
Nama / Name
Frekuensi Hadir Frekuensi Hadir
Frequency Attended Frequency Attended
Cheng Yong Kwang 7 7 4 4
Lee Whay Keong 7 7 4 4
Kalistus DD Making 7 7 4 4

Rangkap Jabatan Anggota Dewan Concurrent Positions of BOC Members
Komisaris
Perseroan senantiasa memastikan bahwa The Company always ensures that members of
anggota Dewan Komisaris telah mematuhi the Board of Commissioners had complied with
Peraturan Otoritas Jasa Keuangan (POJK) No. the Financial Services Authority Regulation
33/POJK04/2014 Tentang Direksi dan Dewan (POJK) No. 33/POJK04/2014 concerning the
Komisaris Emiten Atau Perusahaan Publik. Board of Directors and Board of Commissioners
Adapun informasi mengenai rangkap jabatan or Public Companies. The information regarding
anggota Dewan Komisaris Perseroan per 31 concurrent positions of members as of 31
Desember 2022 adalah sebagai berikut: December 2022 is as follows:
Jabatan di Perseroan Jabatan di Perusahaan / Lembaga Lain

Nama / Name Position in the Company Position in Other Companies / Institutions
Komisaris Utama -
Cheng Yong Kwang -
President Commissioner
Komisaris
Lee Whay Keong Komisaris • PT Lion Superior Electrodes
Commissioner
Kalistus DD Making SE. Komisaris Independen

- -
Ak. CPAI Independent Commissioner
Hubungan Keluarga Anggota Dewan Family Relations of The Board of

Komisaris Commissioners Members
Terdapat hubungan keluarga anggota Dewan There is family relationship between members
Komisaris dengan anggota Direksi, informasi of the Board of Commissioners and members of
tersebut adalah sebagaimana tabel berikut: the Board of Directors, the information is as
shown in the following table:
Hubungan Keluarga dengan

Family Relationship with
Pemegang Saham
Direktur Komisaris
Pengendali
Directors Commissioners
Controlling Shareholders
Ya Tidak Ya Tidak Ya Tidak
Yes No Yes No Yes No
Cheng Yong Kwang

  
Lee Whay Keong   
Kalistus DD Making SE. Ak. CPAI   
Kebijakan tentang Penilaian Dewan Policy on Assessment of the Board of

Komisaris Commissioners
Prosedur penilaian Dewan Komisaris dilakukan The evaluation procedure for the Board of
secara berkala setiap tahun dengan tolak ukur Commissioners is carried out regularly every
dan kriteria penilaian antara lain: year against benchmarks and assessment
criteria, including:
a. Kepatuhan Perseroan terhadap peraturan a. The Company's compliance with applicable
perundang-undangan yang berlaku dan laws and regulations and the Company's
anggaran dasar Perseroan; articles of association;
b. Tingkat kehadiran dalam rapat Dewan b. Attendance at the Board of Commissioners
Komisaris dan Rapat gabungan dengan meetings and joint meetings with the Board
Direksi; of Directors;
c. Dukungan Dewan Komisaris dalam c. Support from the Board of Commissioners
penerapan GCG di Perseroan; in implementing GCG in the Company;

Pelatihan Dewan Komisaris Board of Commissioner Trainings
Pada tahun 2022, anggota Dewan Komisaris In 2022, members of the Board of
telah mengikuti pelatihan sebagai berikut: Commissioners have attended the following
training:
Peserta Tanggal Seminar/Training Pengelola

Participant Date Conference/Workshop Organizer
LED
Singapore
Enviromental Social and Governance essential (Core)
Lee Whay Keong 31-05-2022 Institute of
LED Directors
Enviromental Social and Governance essential (Core)
Transfer Pricing & Tax Avoidance
09-04-2022 IAI
Transfer Pricing and Tax Avoidance
Analisa Laporan Keuangan

21-06-2022 IAI
Analysis of financial statementsl
Key Audit Matters Communication KAP Purwantoro,

10-08-2022
Key Audit Matters Communication Sungkoro & Surja
Mengkaji Dampak Implementasi PSAK baru (71,72
dan 73) terhadap Laporan Keuangan Perusahaan
Kalistus DD 28-09-2022 Reviewing the Impact of the Implementation of the ICSA
Making SE Ak. new PSAK (71,72 and 73) on the Company's Financial
CPAI Statements
Pola Pengawasan Kepatuhan Pajak Terbaru
14-10-2022 IAPI
Latest Tax Compliance Monitoring Pattern
Perlakuan Akuntansi Dampak Siaran Pers

12-11-2022
Accounting Treatment Impact Press Releas IAI
ESG and Climate Risk and Supporting Trust in Audit

and Corporate Governance
26-11-2022
ESG and Climate Risk and Supporting Trust in Audit IAPI

Direksi
Board of Directors
Direksi adalah organ Perusahaan yang The Board of Directors is a corporate body that
berwenang dan bertanggung jawab penuh atas is authorized and fully responsible for the
pengurusan Perseroan, sesuai dengan maksud management of the Company, in accordance
dan tujuan Perseroan serta mewakili Perseroan, with the purposes and objectives of the
baik di dalam maupun di luar pengadilan sesuai Company and represents the Company, both
dengan ketentuan anggaran dasar. Dasar inside and outside the court in accordance with
hukum mengenai Direksi berdasarkan Undang- the provisions of the articles of association. The
Undang No. 40 tahun 2007 tentang Perseroan legal basis for the Board of Directors are made
Terbatas, POJK No. 33/POJK.04/2014 tentang in accordance with Law No. 40 Year 2007
Direksi dan Dewan Komisaris Emiten atau regarding Limited Liability Companies, POJK
Perusahaan Publik dan Anggaran Dasar No. 33/POJK.04/2014 on the Board of Directors
Perusahaan. and the Board of Commissioners of Public
Companies and the Company’s Articles of
Association.
Anggota Direksi diangkat dan diberhentikan The members of the Board of Directors are
oleh RUPS. Pengangkatan anggota Direksi appointed and dismissed by the GMS.
untuk jangka waktu terhitung sejak tanggal Appointment of members of the Board of
ditetapkan oleh RUPS yang mengangkatnya Directors is for a period starting from the date
dan berakhir pada penutupan RUPS tahunan ke determined by the GMS and ending at the close
3 (tiga). 1 (satu) periode masa jabatan adalah of the 3rd (third) year GMS. 1 (one) term of
3 (tiga) tahun. Setelah masa jabatan berakhir, office is 3 (three) years. After a term of office
Direktur dapat diangkat kembali. ends, the Director can be reappointed.
Susunan Direksi Board of Directors Composition
Berdasarkan RUPS Tahunan tanggal 15 Juli Based on the Annual GMS on July 15, 2022
2022 yang diaktakan dengan Akta Pernyataan which was notarized by the Deed of Decision of
Keputusan RUPS Tahunan No. 21 yang dibuat the Annual GMS No. 21 made before Fathiah
dihadapan Fathiah Helmi, SH, notaris di Helmi, SH, notary in Jakarta, the composition
Jakarta, susunan Direksi Perseroan per tanggal of the Board of Directors as of December 31,
31 Desember 2022 adalah sebagai berikut: 2022 is as follows:
Direktur Utama / President Director : Cheng Yong Kim

Direktur / Director : Lim Tai Pong
Direktur / Director : Ir.H.Krisant Sophiaan MSc
Direktur / Director : Tjoe Tjoe Peng (Lawer Supendi)
Direktur / Director : Cheng Zhi Wei MSc MBA
Pedoman Direksi Board of Directors’ Charter
Sebagai bentuk pemenuhan POJK No. 33 tahun Pursuant to POJK No. 33 of 2014, the Board
2014, Direksi telah menyusun dan of Directors had established and signed the
menandatangani pedoman kerja yang guidelines regulated in the Guidelines of
tercantum dalam Pedoman Direksi. Pedoman Directors. These guidelines bind all members
kerja ini bersifat mengikat bagi seluruh and serve as guidelines in the implementation
anggota dan berfungsi sebagai panduan dalam of their duties. The guidelines of the Board of
menjalankan tugasnya. Isi pedoman kerja Directors cover the composition, appointment
Direksi antara lain komposisi, pengangkatan and dismissal, requirements, responsibility,
dan pemberhentian, persyaratan, tanggung tasks, authority and meetings.
jawab, tugas, wewenang dan rapat.

Tugas, Tanggung Jawab dan Duties, Responsibilities and Authority
Wewenang Direksi of Board of Directors
Tugas, tanggung jawab dan wewenang Direksi Duties, responsibilities and authority of Board
antara lain sebagai berikut: of Directors are as follows:
1. Direksi bertugas menjalankan dan 1. The Board is tasked with and is responsible
bertanggung jawab atas pengurusan for the management of the Company, for
Perseroan untuk kepentingan Perseroan the interest of the Company, in accordance
sesuai dengan maksud dan tujuan with the goals and purposes of the
Perseroan yang ditetapkan dalam Anggaran Company as stipulated in the Articles of
Dasar. Association.
2. Dalam menjalankan tugas dan tanggung 2. In performing its tasks and responsibilities
jawab atas pengurusannya, Direksi wajib as the management, the Board i s
menyelenggarakan RUPS Tahunan dan r e q u i r e d to hold an Annual GMS and
RUPS lainnya sebagaimana diatur dalam other GMS deemed necessary as stipulated
Peraturan Perundang-undangan dan in the prevailing laws and regulations and
Anggaran Dasar. the Company’s Articles of Association.
3. Setiap anggota Direksi wajib melaksanakan 3. Each member of the Board is required to
tugas dan tanggung jawab dengan itikad perform his or her duties and
baik, penuh tanggung jawab dan kehati- responsibilities with good integrity, full
hatian. responsibility and in a prudent manner.
4. Setiap anggota Direksi bertanggung jawab 4. Each member of the Board of Directors shall
secara tanggung renteng atas kerugian be jointly and severally liable for any loss
Perseroan yang disebabkan oleh kesalahan caused by any error or negligence of the
atau kelalaian anggota Direksi dalam members of the Board of Directors in
menjalankan tugasnya. performing their duties.
5. Anggota Direksi tidak dapat 5. Members of Board of Directors cannot be
dipertanggungjawabkan atas kerugian held accountable for the loss of the
Perseroan apabila dapat membuktikan: Company if they can prove:
- kerugian tersebut bukan karena - That the loss is not due to their error
kesalahan atau kelalaiannya; or negligence;
- Telah melakukan pengurusan dengan - That the management of the Company
itikad baik, penuh tanggung jawab,dan has been conducted with integrity, full
kehati-hatian untuk kepentingan dan responsibility and in a prudent manner
sesuai dengan maksud dan tujuan for the interest of and in accordance
Perseroan; with the goals and purposes of the
Company.
- Tidak mempunyai benturan - That they have no conflict or interest
kepentingan baik langsung maupun either directly or indirectly on the
tidak langsung atas tindakan management actions that caused the
pengurusan yang mengakibatkan loss; and
kerugian; dan
- Telah mengambil tindakan untuk - That they have taken measures to
mencegah timbul atau berlanjutnya prevent the loss or to stop the loss from
kerugian tersebut. continuing.
6. Menyusun dan melaksanakan rencana kerja. 6. Develop and implement work plans.
7. Direksi berwenang mewakili Perseroan di 7. The Board of Directors is authorized to
dalam maupun di luar pengadilan akan represent the Company, both inside and
tetapi dengan pembatasan yang telah outside the court, but with certain
ditentukan dan atau sesuai dengan restrictions and/or in compliance with
peraturan perundangan yang berlaku. applicable laws and regulations.
Tugas dan tanggung jawab masing-masing Scope and responsibilities of each member of
anggota Direksi adalah sebagai berikut: the Board of Directors are as follows:

Nama / Name Lingkup tangung jawab / Scope of Responsibilities
Direktur Utama
Cheng Yong Kim
President Director
- Melakukan segala fungsi koordinasi atas semua bidang yang ada dibawah Direksi dan
membawahi Sekretaris Perusahaan, Audit Internal, Quality Management Representatif.
- Memberikan pengarahan dan strategi untuk memajukan bisnis Perseroan.
- Perform overall coordination function on all areas under the Board of Directors and oversees
the Corporate Secretary, Internal Audit and Quality Management Representative.
- Provide directions and formulate strategies in developing the Company’s businesses.
Direktur Teknik & Marketing

Lim Tai Pong
Technical & Marketing Director
- Membawahi bidang Marketing, Purchasing, General Admin dan Produksi.

- Merencanakan strategi yang menyangkut pemasaran.
- Memonitor & mengarahkan proses pada divisi marketing, purchasing, general admin dan
produksi.
- Supervise the Marketing, Purchasing, General Admin and Production functions.
- Plan marketing strategies.
- Monitoring & directing the processes in the marketing, purchasing, general admin and
production divisions.
Direktur Pengembang Pabrik

Ir. H. Krisant Sophiaan Msc
Development Plant Director
- Membawahi bidang Development and Plant Surabaya.

- Merencanakan strategi yang menyangkut produksi di Plant Surabaya.
- Memonitor & Mengarahkan pengembangan proses dan produk.
- Supervise the Development function and Surabaya Plant.
- Plan production strategies for the Surabaya Plant
- Monitor & drive process and product development
Direktur Keuangan
Tjoe Tjoe Peng /Lawer S
Finance Director
- Membawahi bidang Keuangan.

- Mengelola fungsi akuntansi dalam proses data dan informasi keuangan untuk menghasilkan
laporan keuangan yang akurat dan tepat waktu.
- Mengkoordinasi pelaporan dan pembayaran kewajiban pajak agar efisien, akurat, tepat
waktu dan sesuai dengan peraturan yang berlaku.
- Merencanakan, mengkoordinasikan dan mengontrol arus kas pengelolaan piutang & hutang
sehingga memastikan kesediaan dana untuk operasi perusahaan & kesehatan kondisi
keuangan.
- Supervise the Finance function.
- Manage accounting function and the processing of data and financial information to produce
accurate and timely financial reports.
- Coordinate reporting and payment of tax obligations to be efficient, accurate, timely and in
accordance with applicable regulations.
- Plan, coordinate and control cash flows management of accounts receivable & debt so as
to ensure the availability of funds for the Company's operations & healthy financial
condition.

Direktur Strategi & Pengembangan Usaha Korporasi
Cheng Zhi Wei
Corporate Business Strategy & Business Development Director
- Membawahi bidang strategi dan pengembangan usaha korporasi.

- Merencanakan strategi bisnis dan pengembangan kerjasama yang sudah terjalin.
- Menjaga hubungan dengan para partner, client dan pihak-pihak yang terkait dengan
peluang pengembangan usaha.
- Memonitor, menganalisa dan mengkoordinasikan pengembangan usaha yang sedang
berjalan.
- In charge of the strategy and corporate business development areas.
- Plan business strategies and develop existing collaborations.
- Maintain relationships with partners, clients and parties related to business development
opportunities
- Monitor, analyze and coordinate ongoing business development.
Rapat Direksi, dan Rapat Gabungan Board of Directors Meetings and Joint
dengan Dewan Komisaris Meetings with Board of Commissioners
Sesuai Anggaran Dasar Perseroan, Direksi In accordance with the Company's Articles of
wajib mengadakan rapat secara berkala paling Association, the Board of Directors is required
kurang 1 (satu) kali dalam setiap bulan dan to hold regular meetings at least 1 (one) time
dapat diadakan setiap waktu apabila dianggap every month and can be held at any time if
perlu. deemed necessary.
Pada tahun 2022, Direksi mengadakan rapat In 2022, the Board of Directors held 12 (twelve)
dan atau telekonferensi sebanyak 12 (dua meetings and/or teleconferences attended by
belas) kali dengan dihadiri oleh seluruh Direksi. the entire Board of Directors.
Direksi juga mengadakan rapat gabungan dan The Board of Directors also holds joint meetings
atau telekonferensi dengan Dewan and/or teleconferences with the Board of
Komisararis. Pada tahun 2022, rapat gabungan Commissioners. In 2022, 4 (four) joint
diadakan sebanyak 4 (empat) kali rapat. meetings were held.
Rapat Gabungan Rapat Direksi

Joint Meetings Directors’ Meetings
Nama
Name Jumlah Rapat Kehadiran Jumlah Rapat Kehadiran
No. of Meeting Attendance No. of Meeting Attendance
Cheng Yong Kim 4 3 12 12

Lim Tai Pong 4 4 12 12
Ir. H. Krisant Sophiaan MSc 4 4 12 12
Tjoe Tjoe Peng/Lawer S 4 4 12 12
Cheng Zhi Wei BSc MBA 4 4 12 12
Agenda rapat rutin Direksi antara lain The agenda at regular meetings of the Directors
membahas laporan keuangan dan kinerja include discussing the financial statements and
Perseroan, membahas isu-isu seperti operasi, the company’s performance, addressing issues
keuangan, strategi, perencanaan, investasi dan such as operations, finance, strategy, planning,
pembiayaan, serta menyetujui tindakan yang investment and financing, and deciding on
akan diambil. actions to be taken.

Rapat Direksi dan Dewan Komisaris secara Regular meetings of the Board of Directors and
berkala memungkinkan Dewan Komisaris untuk Board of Commissioners enable the
memberikan nasihat kepada Direksi dan juga Commissioners to provide advice to the Board
memberikan persetujuaan atas keputusan yang of Directors and also provide approval for the
diambil oleh Direksi. decisions taken by the Board of Directors.
Rangkap Jabatan Concurrent Positions Held

Perseroan senantiasa memastikan bahwa The Company always ensures that members of
anggota Direksi telah mematuhi ketentuan the Board of Directors had complied with the
Peraturan Otoritas Jasa Keuangan (POJK) No. Financial Services Authority Regulation (POJK)
33/POJK04/2014 Tentang Direksi dan Dewan No. 33/POJK04/2014 concerning the Board of
Komisaris Emiten Atau Perusahaan Publik. Directors and Board of Commissioners or Public
Adapun informasi mengenai rangkap jabatan Companies. The information regarding
anggota Direksi Perseroan per 31 Desember concurrent positions of members as of 31
2022 adalah sebagai berikut: December 2022 is as follows:
Jabatan di Perseroan Jabatan di Perusahaan / Lembaga Lain

Nama / Name Position in the Company Position in Other Companies / Institutions
Direktur Utama
Cheng Yong Kim Direktur / Director PT Lion Superior Electrodes
President Director
Lim Tai Pong Direktur / Director - -
Ir.Krisant Sophiaan MSc Direktur / Director Direktur / Director PT Singa Purwakarta Jaya
Direktur / Director PT Bantrunk Murni Indonesia
Tjoe Tjoe Peng/ Direktur Utama PT Singa Purwakarta Jaya

Direktur / Director President Director
Lawer S PT Lionmesh Prima Tbk
Komisaris Utama PT Logam Menara Murni

P. Commissioners PT Logam Angkasa Teknik
Pelatihan Peningkatan Kompetensi Board of Directors Competence

Direksi Trainings
Pada tahun 2022 anggota Direksi telah In Year 2022, the Board of Directors
mengikuti beberapa pelatihan sebagai berikut: participated in the following trainings:
Tanggal
Peserta Seminar/Training Pengelola
Pelatihan
Participant Conference/Workshop Organizer
Date
Cheng Yong FPG Abalone & Wine Pairing Workshop NTUC Fairprice
12-04-2022
Kim FPG Abalone & Wine Pairing Workshop Co-operative Ltd
Medium Term Note Programme Information Memorandum
Medium Term Note Programme Information Memorandum NTUC Fairprice
06-05-2022
Co-operative Ltd
Crisis Exercise Debrief & Crises Preparedness Trainning NTUC Fairprice

12-07-2022
Crisis Exercise Debrief & Crises Preparedness Trainning Co-operative Ltd
Khazanah Megatrend Forum 2022 (Development and Its
Complexities) Khazanah
3 & 4-10-22
Khazanah Megatrend Forum 2022 (Development and Its Nasional Bhd
Complexities)
NTUC Fairprice Group Director Retreat on Business
22&23-11- Strategy NTUC Fairprice
22 NTUC Fairprice Group Director Retreat on Business Co-operative Ltd
Strategy

Tanggal
Peserta Seminar/Training Pengelola
Pelatihan
Participant Conference/Workshop Organizer
Date
Ir. H. Forum Diskusi Nasional Implementasi PP No. 20/2021 tentang

Krisant
penertiban Kawasan dan Tanah Terlantar Serta Dampaknya
Sophiaan
MSc Bagi Pengembangan Kawasan Ekonomi
HKI, KADIN &
29-03-2022 National Discussion Forum on the Implementation of APINDO
Government Regulation No. 20/2021 concerning Controlling
Abandoned Areas and Land and Their Impact on the
Development of Economic Zones
Tjoe Tjoe Pendalaman Annual Report (POJK 29/2016 & SEOJK 16/2021)
Peng/
dan Sustainability Report (POJK 51/2017) ICSA
Lawer S 03-02-2022
In-depth Annual Report (POJK 29/2016 & SEOJK 16/2021)
and Sustainability Report (POJK 51/2017)
Penerapan ESG di Pasar Modal Indonesia

08-02-2022 IDX & IIF
Application of ESG in the Indonesian Capital Market
Dampak Inflasi Bagi Duni Usaha dan Pasar Modal Indonesia AEI
20-07-2022 The Impact of Inflation on the Indonesian Business World
and Capital Market
07-09-2022
Pemenuhan Ketentuan Free Float BEI
Fulfillment of Free Float Provisions
Sosialisasi POJK No. 14/POJK.04/2022 tentang

Penyampaian LKB Emiten atau Perusahaan Publik dan
15/POJK.04/2022 tentang Pemecahan Saham dan
22-09-2022 Penggabungan Saham oleh Perusahaan Terbuka OJK
Socialization of POJK No. 14/POJK.04/2022 concerning
Submission of LKB of Issuers or Public Companies and
15/POJK.04/2022 concerning Split of Shares and Merger of
Shares by Public Companies
Musyawarah Anggota AEI

28-09-2022 AEI
AEI Member Meeting
Sosialisasi Peraturan I-E tentang Kewajiban Penyampaian

11-10-2022 Informasi BEI & AEI
Dissemination of Regulation I-E concerning Obligation to
Submit Information
Cheng J.P. Morgan Mid-Year Outlook

Zhi Wei 15-06-2022 J.P. Morgan
J.P. Morgan Mid-Year Outlook
BSc MBA
TGV’s 61st Global Conference True Global
16-06-2022
TGV’s 61st Global Conference Vertures
Credit Suisse Market Outlook

29-06-2022 Credit Suisse
Credit Suisse Market Outlook
Pemenuhuan Ketentuan Free Float

28-09-2022 IDX

Penilaian atas Kinerja Komite Assessment of the performance of
dibawah Direksi committees under the Board of
Directors
Direksi tidak memiliki komite yang berada The Board of Directors does not have a
dibawah Direksi. Pelaksanaan tugas dan committee under the Board of Directors. The
tanggung jawab Direksi didukung langsung implementation of the duties and
oleh fungsi-fungsi yang dipimpin oleh Direktur responsibilities of the Board of Directors is
Utama. directly supported by functions led by the
President Director.
Informasi kepemilikan Saham Direksi Information on Board of Directors'

Share ownership
Kepemilikan saham oleh Direksi sebagai Share ownership by the Board of Directors is
berikut: as follows:
Pemegang Saham Jumlah Saham Persentase

Shareholder Total Number of Shares Percentage
Cheng Yong Kim 690.000 0,13%
Lim Tai Pong 630.000 0,12%
Ir H Krisant Sophiaan MSc 10.000 0,00%
Tjoe Tjoe Peng (Lawer Supendi) 5.000 0,00%
Tidak ada anggota Direksi yang memiliki saham There is no member of the Board of
Perseroan mencapai 5% atau lebih. Directors who owns 5% or more of the
Company's shares.
Hubungan Keluarga Anggota Direksi Family Relations of The Board of

Directors Members
Terdapat hubungan keluarga sesama anggota There is family relationship among members of
Direksi maupun Dewan Komisaris dengan the Board of Directors or members of the Board
anggota Direksi, informasi tersebut adalah of Commissioners, the information is as shown
sebagaimana tabel berikut: in the following table:
Hubungan Keluarga dengan

Family Relationship with
Pemegang Saham
Direktur Komisaris
Pengendali
Directors Commissioners
Controlling Shareholders
Ya Tidak Ya Tidak Ya Tidak
Yes No Yes No Yes No
Cheng Yong Kim

  
Lim Tai Pong   
Ir. H. Krisant Sophiaan MSc   
Tjoe Tjoe Peng/Lawer S   
Cheng Zhi Wei BSc MBA   

Komite Nominasi dan Remunerasi
Nomination and Remuneration Committe
Hingga saat ini Perseroan belum membentuk Up to now, the Company has not established
Komite Nominasi dan Remunerasi dengan any Nomination and Remuneration Committee
pertimbangan bahwa pelaksanaan fungsi with the consideration that the implementation
nominasi dan remunerasi berdasarkan POJK of the nomination and remuneration function is
No. 34, dapat dilaksanakan oleh Dewan based on POJK No. 34, can be implemented by
Komisaris Perseroan. Saat ini, Pedoman Kerja the Company's BOC. Currently, the guidelines
Fungsi Nominasi dan Remunerasi masih dalam for Nomination and Remuneration Function are
tahap penyusunan oleh Dewan Komisaris still being drafted by the Company's Board of
Perseroan. Commissioners (BOC).
The Board of Commissioners to carry out the
Dewan Komisaris untuk menjalankan fungsi
nomination and remuneration functions to
nominasi dan remunerasi untuk menetapkan
determine salaries and/or other benefits for
gaji dan/atau tunjangan lainnya bagi anggota
members of the Company's Directors.
Direksi Perseroan. Indikator yang menjadi
Indicators to be considered in conducting
pertimbangan dalam melakukan kajian untuk
studies to determine remuneration include:
menetapkan remunerasi antara lain:
 Income levels according to industry
• Tingkat penghasilan yang berlaku umum
benchmark
dalam industri sejenis
• Remuneration structure
• Struktur remunerasi
• Inflation rate
• Tingkat inﬂasi
• Company's financial condition and
• Kondisi dan kemampuan keuangan
capability
Perseroan
Remunerasi Direksi & Dewan Remuneration Of Board Of Directors &

Board Of Commissioners
Komisaris
The remuneration of the Board of
Remunerasi Dewan Komisaris dan Direksi
Commissioners and the Board of Directors is
ditetapkan melalui Rapat Umum Pemegang
determined through the GMS. The GMS for
Saham (RUPS). RUPS Tahun Buku 2022
Fiscal Year 2022 had resolved the
menetapkan remunerasi Dewan Komisaris
remuneration of the Board of Commissioners to
mengalami kenaikan sebesar 12% dari tahun
increase by 12% from the previous year with
sebelumnya ditambah dengan tunjangan
an additional allowance of Rp8,000,000.- And
sebesar Rp8.000.000,-. Dan untuk remunerasi
the remuneration of the Board of Directors of
Direksi Perseroan memberikan wewenang
the Company would be left to the discretion of
kepada Dewan Komisaris untuk
the Board of Commissioners to determine.
menentukannya.
In 2022, the total remuneration of the Board of
Pada tahun 2022, total remunerasi Direksi dan
Directors and Board of Commissioners is
Dewan Komisaris sebesar Rp9.550.128.500,-.
Rp9,550.128.500.-.
.
Remunerasi yang diterima / Remuneration received
Besaran Remunerasi Anggota Dewan Komisaris Anggota Direksi Remuneration Amount
Members of Board of Commissioners Members of Board of Directors
> Rp1 miliar 4 orang / 4 people > Rp1 billion
Rp500 juta – 1 miliar 1 orang / 1 people Rp500 million – 1 billion
< Rp500 juta 3 orang / 3 people < Rp500 million
Total 3 orang / 3 people 5 orang / 5 people

Komite Audit
Audit Committee
Komite Audit merupakan organ pendukung The Audit Committee is a supporting organ
yang berada di dibawah Dewan Komisaris. under the Board of Commissioners. The Audit
Komite audit dibentuk untuk mendukung tugas Committee was formed to support the Board of
dan tanggung jawab Dewan Komisaris dalam Commissioners in carrying out the supervisory
menjalankan fungsi pengawasan terhadap function of the Company's business plans
rencana usaha Perseroan yang dijalankan carried out by the Board of Directors.
Direksi. Pengangkatan dan pemberhentian appointment and dismissal of the Audit
Komite Audit dilakukan oleh Dewan Komisaris. Committee is carried out by the Board of
Masa jabatan Komite Audit adalah 3 tahun Commissioners. The term of office of the Audit
mengikuti masa jabatan Komisaris. Committee is 3 years following the term of office
of the Commissioner.
Komite Audit terdiri dari Komisaris Independen The Audit Committee consists of an
yang bertindak sebagai ketua dan 2 (dua) Independent Commissioner who acts as
orang anggota. chairman and 2 (two) other members.
Pembentukan Komite Audit dilakukan dengan The Audit Committee was formed with
mengacu pada POJK No.55/POJK.04/2015 reference to OJK Regulation No.55/
tentang Pembentukan dan Pelaksanaan Kerja POJK.04/2015 concerning the Formation and
Komite Audit. Implementation of Audit Committee Work.
Pengangkatan Komite Audit berdasarkan surat Appointment of the Audit Committee is based
Dewan Komisaris No. LMW/DK/VIII-008/21 on the Board of Commissioners' letter No.
tanggal 23 Agustus 2021, dengan susunan LMW/DK/VIII-008/21, Agustus 23, 2021, with
sebagai berikut: the following arrangement:
Jabatan Nama
Position Name
Ketua / Chairman Kalistus DD Making SE. Ak. CPAI
Anggota / Member Shelly, SE
Anggota / Member Kenny Jesusanto, SE
Kalistus DD Making SE. Ak. CPAI
Profil Kalistus DD Making SE Ak. CPAI dapat Profile of Kalistus DD Making SE Ak, CPAI is
dilihat pada bagian Profil Dewan Komisaris. available in the profile of Board of
Commissioners.
Shelly SE
Warga Negara Indonesia, lahir di Medan, tahun Indonesian citizen, born in Medan, on 1987,
1987, diangkat sebagai anggota Komite Audit was appointed as a member of the Audit
tahun 2021. Committee in 2021.
Lulusan Fakultas Ekonomi, Universitas Graduated from the Faculty of Economics,

Sumatera Utara. University of North Sumatra.
Pernah bekerja di Wilmar Group. Pada tahun Have worked at Wilmar Group. Since 2016 until
2016 sampai sekarang bekerja di PT Sari now working at PT Sari Agrotama Persada
Agrotama Persada (Wilmar Group) sebagai (Wilmar Group) as National Sales Promotion
Asisten Supervisor National Sales Promotion. Assistant Supervisor.

Kenny Jesusanto, SE
Warga Negara Indonesia, lahir Jakarta, tahun Indonesian citizen, born in Jakarta, on 1994,
1994, diangkat sebagai anggota Komite Audit was appointed as a member of the Audit
tahun 2021. Committee in 2021.
Lulusan Fakultas Ekonomi, Universitas Graduated from the Faculty of Economics,

Tarumanagara. Tarumanagara University.
Pada tahun 2014-2016 bekerja di Cha Thay PIK In Year 2014-2016 Have worked at Cha Thay
bagian Accounting. Pada tahun 2016-2019 PIK in Accounting department. In 2016-2019
bekerja di Baker Tilly International sebagai worker at Baker Tilly International as an
auditor, 2019 sampai dengan sekarang di auditor, 2019 until now at PT Lion Mentari (Lion
PT Lion Mentari (Lion Group). Group).
Tugas dan Tanggung Jawab Komite Duties and Responsibilities of The

Audit Mencakup Antara Lain: Audit Committee Are as Follows:
1. Melakukan penelaahan atas informasi 1. Review the financial information to be

keuangan yang dikeluarkan Perseroan released by the Company such as financial
kepada publik atau regurator seperti statements, projections and other financial
laporan keuangan, proyeksi dan laporan information.
keuangan lainnya.
2. Melakukan penelaahan atas ketaatan 2. Review the financial information to be
terhadap peraturan perundangan- released by the Company such as financial
undangan yang berhubungan dengan statements, projections and other financial
kegiatan Perseroan. information.
3. Memberikan rekomendasi kepada Dewan 3. Provide recommendations to the Board
Komisaris mengenai penunjukan Akuntan regarding the Public Accountantand
Publik berdasarkan pada independensi, compliance with regulatoryrequirements.
ruang lingkup penugasan dan imbalan jasa.
4. Melakukan penelaahan atas pelaksanaan 4. Review the audit results by the Internal
pemeriksaan oleh Auditor Internal dan Auditor and supervising the follow-up
mengawasi pelaksanaan tindak lanjut oleh actions by the Board of Directors on the
Direksi atas temuan Auditor Internal. findings by the Internal Auditor.
5. Melakukan penelaahan dan melaporkan 5. Review and report to the Commissioners
kepada Komisaris atas pengaduan yang any complaints relating to the Company as
berkaitan dengan Perseroan sebagai apublic company.
perusahaan publik.
6. Melakukan penelaahan terhadap aktivitas 6. Review the implementation of risk
pelaksanaan manajemen risiko yang management activities carried out by the
dilakukanoleh Direksi. Directors.
7. Menjaga kerahasiaan dokumen, data dan 7. Maintain confidentiality of the Company's
informasi Perseroan. documents, data and information.
Pada tahun 2022 Komite Audit telah In Year 2022, the Audit Committee had been
menjalankan fungsi dan tugasnya sebagai performing its functions and duties as follows:
berikut:
- Menyelenggarakan rapat dengan Kantor - Holding a meeting with the Public

Akuntan Publik Kosasih, Nurdiyaman, Accounting Firm of Kosasih, Nurdiyaman,
Mulyadi, Tjahjo & Rekan untuk membahas Mulyadi, Tjahjo & Partners to discuss the
Laporan Keuangan. Financial Statements.
- Menelaah Laporan Keuangan Perseroan - Reviewing the Company's Financial
sebelum dipublikasikan. Statements prior to publication.
- Menelaah kepatuhan Perseroan terhadap - Reviewing the Company's compliance with
peraturan pasar modal dan peraturan capital market regulations and other
lainnya. regulations.

- Meninjau laporan audit internal dan tindak - Reviewing the internal audit report and its
lanjutnya. follow-up.
- Memantau efektivitas pengendalian internal - Monitor the effectiveness of the Company's
Perseroan. internal control.
Tahun 2022 Komite Audit telah melaksanakan In Year 2022, the Audit Committee had held 4
Rapat sebanyak 4 kali, dengan tingkat meetings and the attendances are as follows:
kehadiran sebagai berikut:
Jabatan Nama Jumlah Kehadiran

Position Name Meeting Attended
Ketua / Chairman Kalistus DD Making SE. Ak. CPAI 4 100%
Anggota / Member Shelly, SE 4 100%
Anggota / Member Kenny Jesusanto, SE 3 75%
Independensi Komite Audit Independence of Audit Committe
Seluruh anggota komite Audit tidak memiliki In order to ensure the independence and to
hubungan usaha baik langsung maupun tidak avoid conflicts of interest in the implementation
langsung yang berkaitan dengan kegiatan of the duties of the Audit Committee, the Audit
usaha Perseroan, tidak memiliki saham baik Committee consists of members appointed
langsung maupun tidak langsung, tidak from outside the Company and is chaired by the
mempunyai hubungan afiliasi dengan anggota Independent Commissioner of the Company.
Dewan Komisaris, anggota Direksi, ataupun
pemegang saham pengendali untuk menjaga
independensi.
Pelatihan Komite Audit Audit Committee Training
Peserta Tanggal Seminar/Training Pengelola

Participant Date Conference/Workshop Organizer
Transfer Pricing & Tax Avoidance

09-04-2022 IAI
Transfer Pricing and Tax Avoidance
Analisa Laporan Keuangan

21-06-2022 IAI
Analysis of financial statementsl
Key Audit Matters Communication KAP Purwantoro,

10-08-2022
Key Audit Matters Communication Sungkoro & Surja
Mengkaji Dampak Implementasi PSAK baru (71,72
dan 73) terhadap Laporan Keuangan Perusahaan
Kalistus DD 28-09-2022 Reviewing the Impact of the Implementation of the IDX
Making SE Ak. new PSAK (71,72 and 73) on the Company's Financial
CPAI Statements
Pola Pengawasan Kepatuhan Pajak Terbaru
14-10-2022 IAPI
Latest Tax Compliance Monitoring Pattern
Perlakuan Akuntansi Dampak Siaran Pers

12-11-2022
Accounting Treatment Impact Press Releas IAI
ESG and Climate Risk and Supporting Trust in Audit

26-11-2022
ESG and Climate Risk and Supporting Trust in Audit IAPI

Sekretaris Perusahaan
Corporate Secretary
Sekretaris Perusahaan adalah orang Corporate Secretary is an individual or person

perseorangan atau penanggung jawab dari unit in charge of the work unit carrying out the
kerja menjalankan fungsi sekretaris function of the Corporate Secretary. The
Perusahaan. Sekretaris Perusahaan memegang Corporate Secretary plays a significant role in
peranan signifikan dalam membantu Direksi assisting the Board of Directors to facilitate
memperlancar hubungan antara Perusahaan smooth relations between the Company and its
dengan pemegang saham, Otoritas Jasa shareholders, the Financial Services Authority
Keuangan dan pemangku kepentingan lainnya and other stakeholders and to comply with the
serta dipenuhinya ketentuan peraturan provisions of the applicable laws and
perundang-undangan yang berlaku. regulations.
Sekretaris Perusahaan diangkat dan The Corporate Secretary is appointed and

diberhentikan oleh Keputusan Direksi. dismissed by the Decree of the Board of
Sekretaris Perusahaan tidak diperbolehkan Directors. The Corporate Secretary is not
untuk merangkap jabatan apapun di permitted to hold concurrent positions in other
perusahaan publik lainnya. public companies.
Tugas dan Tanggung Jawab Role and responsibilities of the

Sekretaris Perusahaan Corporate Secretary
Tugas dan tanggung jawab Sekretaris The role and responsibilities of the Corporate
Perusahaan sebagai berikut: Secretary are as follows:
1. Mengelola informasi yang berhubungan 1. Manage information related to the
dengan kegiatan usaha Perseroan. Company's business activities.
2. Menjalin hubungan yang baik dengan para 2. Maintain good relations with regulatorsand
regulator dan lembaga penunjang pasar capital market supporting institutions.
modal
3. Memelihara komunikasi yang baik dalam 3. Maintaining good communication in building
membangun citra Perseroan. the image of the Company.
4. Mengikuti perkembangan Pasar Modal 4. Monitor the development of the Capital
khususnya Peraturan Perundang- undangan Market notably the prevailing Laws and
yang berlaku di bidang Pasar Modal. regulations in the Capital Market.
5. Memberikan masukan kepada Direksi dan 5. Provide inputs to the Board of Directors and
Dewan Komisaris untuk mematuhi the Board of Commissioners on matters
ketentuan Peraturan Perundang- undangan related to compliance with the prevailing
di bidang Pasar Modal. laws and regulations in the Capital Market.
6. Sebagai penghubung Perseroan dengan 6. Act as a liaison officer between the
pemegang saham, Otoritas Jasa Keuangan, Company with shareholders, with the
Bursa Efek dan pemangku kepentingan Financial Services Authority and with other
lainnya. stakeholders.
7. Membantu Direksi dan Dewan Komisaris 7. Assist the Board of Directors and the Board
dalam pelaksanaan Tata Kelola Perusahaan of Commissioners in matters related to the
yang meliputi: management of corporate governance,
including:
 Keterbukaan informasi kepada  Information disclosure to thepublic,
masyarakat, termasuk ketersediaan including the availability of information
informasi pada Situs Web Perseroan. on the Company’s website.
 Korespondensi dengan Otoritas Jasa  Correspondence with the Financial
Keuangan, Bursa Efek Indonesia Services Authority (OJK), Indonesia
termasuk penyampaian laporan- Stock Exchange, including timely
laporan secara tepat waktu. submission of reports.
 Penyelenggaraan dan dokumentasi  Organize the Company’s General
Rapat Umum Pemegang Saham. Meetings of Shareholders.
 Penyelenggaraan rapat Direksi  Organize meetings of the Board of
dan/atau Dewan Komisaris. Directors and/or the Board of
Commissioners.

8. Menjaga kerahasiaan dokumen, data dan 8. Maintain the confidentiality of documents,
informasi yang sifatnya tidak untuk publik data and information that are not publicly
kecuali yang berkaitan dengan kewajiban available, except those related to the
Perseroan sesuai dengan peraturan Company's obligations in accordance with
perundang-undangan atau ditentukan lain the laws and regulations or otherwise
dalam peraturan perundang-undangan. specified in the laws and regulations.
Profil Sekretaris Perusahaan Profile of Corporate Secretary
Sukmawati Syarif SE
Warga Negara Indonesia, Kelahiran Jakarta, 05 Indonesian citizen, born in Jakarta, August 5,
Agustus 1966. Berdomisili di Kota Tangerang, 1966. Based in Tangerang City, Banten
Provinsi Banten. Province.
Diangkat sebagai Sekretaris Perusahaan sejak Appointed as a Corporate Secretary since 1996
tahun 1996 sampai sekarang berdasarkanSurat until now based on Directors Decree.
Keputusan Direksi.
Pendidikan Education
Lulusan Fakultas Ekonomi Universitas Graduated from the Tarumanagara University

Tarumanagara, Jakarta. Faculty of Economics, Jakarta.
Riwayat Jabatan Profesional Background
- 1986 – 1992 Supervisor auditor di Kantor - 1986 – 1992 Supervisor auditor at Kantor
Akuntan Drs. Thomas SW Akuntan Drs. Thomas SW
- 1992 - sekarang PT Lion Metal Works Tbk. - 1992 - Present PT Lion Metal Works Tbk.
Tahun 2022, Sekretaris Perusahaan telah In Year 2022, the Corporate Secretary has
melakukan tugas dan tanggung jawabnya performed its duties and responsibilities as
antara lain sebagai berikut: well as:
- Membantu Direksi dalam penyusunan - Assisting the Board of Directors in preparing
Laporan Tahunan dan Laporan the Annual Report and Suistanable Report.
Berkelanjutan.
- Membantu Direksi dalam mempersiapkan - Assisting the Board of Directors in preparing
pelaksanaan Rapat Umum Pemegang Saham the implementation of the General Meeting
dan Paparan Publik Tahunan. of Shareholders and the Annual Public
Expose.
- Mengkoordinir Rapat-Rapat Direksi, Dewan - Coordinate meetings of Board of Directors,
Komisaris, maupun Rapat Gabungan dan Board of Commissioners, and Joint Meetings
menyiapkan undangan rapat, materi rapat and meeting invitations, meeting materials
dan notulen Rapat. and meeting minutes.

- Memberikan masukan kepada Direksi dan - Provide input to the Board of Directors and
Dewan Komisaris Perseroan mengenai Board of Commissioners of the Company
peraturan, Undang-Undang Pasar Modal. regarding regulations, Capital Market Law.
- Menyampaikan berbagai laporan kepada - Submit various reports to regulators such as
para regulator seperti Otoritas Jasa the Financial Services Authority, the
Keuangan, Bursa Efek Indonesia secara Indonesia Stock Exchange in a timely
tepat waktu. manner
Pendidikan dan/atau Pelatihan Corporate Secretary Training

Sekretaris Perusahaan
Tahun 2022, Sekretaris Perusahaan telah In 2022, the Corporate Secretary has attended
mengikuti berbagai pelatihan/seminar sebagai various trainings/seminars as follows:
beriku:
Tanggal
Seminar/Training Pengelola
Pelatihan
Conference/Workshop Organizer
Date
Perubahan Peraturan Nomor I-A dan SE Notasi Khusus
11-01-2022 BEI
Amendment to Regulation Number I-A and SE Special Notation
Sosialisasi Pengembangan Sistem Pelaporan Keuangan Berbasis XBRL
18-01-2022 BEI
Socialization of XBRL-Based Financial Reporting System Development
Dengar Pendapat Konsep Peraturan Nomor I-N tentang Penghapusan Pencatatan

(Delisting) Efek Bersifat Ekuitas, Efek Bersifat Utang, dan Sukuk dan Pencatatan Kembali
19-01-2022 (Relisting) Saham di Bursa" BEI
Hearing of the Concept of Rule Number I-N concerning the Delisting of Equity Securities,
Debt Securities, and Sukuk and the Relisting of Shares on the Exchange"
POJK Nomor 23/POJK.04/2021

31-01-2022 OJK
POJK Number 23/POJK.04/2021
Pendalaman Annual Report (POJK 29/2016 & SEOJK 16/2021) dan Sustainability Report
(POJK 51/2017)
03-02-2022 ICSA
In-depth Annual Report (POJK 29/2016 & SEOJK 16/2021) and Sustainability Report (POJK
51/2017)
Peluncuran Panduan Pelaporan Aspek Lingkungan Hidup untuk Laporan Keberlanjutan
16-02-2022 (Sustainability Report) GRI & CDP
Launching of Guidelines for Reporting Environmental Aspects for Sustainability Reports
Teknis Pemilihan, Pengajuan Baru dan Penghapusan KBLI melalui Sistem OSS serta
kaitannya dengan kewajiban Penyampaian LKPM secara berkala AEI &
25-02-2022
Selection Techniques, New Submissions and Elimination of KBLI through the OSS System BKPM RI
and their relation to the obligation to submit LKPM periodically
Teknis Pemilihan, Pengajuan Baru dan Penghapusan KBLI melalui Sistem OSS serta
Kaitannya dengan Kewajiban Penyampaian LKPM secara berkala
24-03-2022 AEI
Selection Techniques, New Submissions and Elimination of KBLI through the OSS System
and their relation to the obligation to submit LKPM periodically
Forum Diskusi Nasional Implementasi PP No. 20/2021 tentang penertiban Kawasan dan
Tanah Terlantar Serta Dampaknya Bagi Pengembangan Kawasan Ekonomi
HKI, Kadin &
29-03-2022 National Discussion Forum on the Implementation of Government Regulation No.
Apindo
20/2021 concerning Controlling Abandoned Areas and Land and Their Impact on the
Development of Economic Zones
Bimbingan Teknis (Bimtek) LKPM dan Implementasi Perizinan Berbasis

Risiko (OSS RBA) Bimtek
30-03-2022
LKPM Technical Guidance (Bimtek) and Risk-Based Licensing LKPM
Implementation (OSS RBA)

Tanggal
Seminar/Training Pengelola
Pelatihan
Conference/Workshop Organizer
Date
Penerapan ESG di Pasar Modal Indonesia
08-06-2022 IDX & IIF
Application of ESG in the Indonesian Capital Market
Pendalaman POJK 16/POJK.04/2020 tentang Pelaksanaan Rapat Umum Pemegang
Saham Perusahaan Terbuka Secara Elektronik
16-06-2022 ICSA - OJK
In-depth POJK 16/POJK.04/2020 concerning Implementation of Electronic General
Meeting of Shareholders of Public Companies
Dampak Inflasi Bagi Dunia Usaha dan Pasar Modal Indonesia

20-07-2022 AEI
The Impact of Inflation on the Indonesian Business World and Capital Market
Pemenuhan Ketentuan Free Float
07-09-2022 IDX
Sosialisasi POJK No. 14/POJK.04/2022 tentang Penyampaian LKB Emiten atau Perusahaan
Publik dan 15/POJK.04/2022 tentang Pemecahan Saham dan Penggabungan Saham oleh
Perusahaan Terbuka
22-09-2022 OJK
Socialization of POJK No. 14/POJK.04/2022 concerning Submission of LKB of Issuers or
Public Companies and 15/POJK.04/2022 concerning Split of Shares and Merger of Shares
by Public Companies
Sosialisasi Peraturan I-E tentang Kewajiban Penyampaian Informasi
11-10-2022 BEI & AEI
Dissemination of Regulation I-E concerning Obligation to Submit Information
Workshop SEOJK No.16/SEOJK.04/2021 & POJK No. 34/POJK.04/2014
15-11-2022 BEI & AEI
SEOJK Workshop No.16/SEOJK.04/2021 & POJK No. 34/POJK.04/2014
Pendalaman POJK No. 74/POJK.04/2016 Tahun 2016 tentang Penggabungan Usaha atau
Peleburan Usaha Perusahaan Terbuka dan POJK No. 9/POJK.04/2018 Tahun 2018entang
Pengambilalihan Perusahaan Terbuka
29-11-2022 ICSA
So POJK review No. 74/POJK.04/2016 of 2016 concerning Business Mergers or Business
Consolidations of Public Companies and POJK No. 9/POJK.04/2018 of 2018 concerning
Takeover of Public Companies
Musyawarah Anggota AEI
28-09-2022 AEI
AEI Member Meeting
Bagusin SR Sesi 5 Air dan Pengaduan LK
31-08-2022 AEI
Improve SR Session 5 Water and LK Complaints
Bagusin SR Sesi 6 Ketenagakerjaan AEI
07-09-2022
Improve SR Session 6 ketenagakerjaan
Bagusin SR Sesi 7 Lingkungan yang Sehat dan Aman
14-09-2022 AEI
Improve SR Session 7 a healthy and safe environment
Bagusin SR Sesi 8 Pemberdayaan Masyarakat Lokal & Pengaduan Masyarakat
21-09-2022 AEI
Improve SR Session 8 Empowerment of Local Communities & Community Complaints
Bagusin SR Sesi 9 Inovasi Produk dan Jasa Hijau
28-09-2022 AEI
Improve SR Session 9 Product innovation and green service
Bagusin SR Sesi 10 Sesi Tanya jawab
05-10-2022 AEI
Improve SR Session 10 Question and answer session
Dengar pendapat konsep Perubahan Peraturan No.IV tentang Ketentuan Khusus

Pecatatan Saham dan Efek Bersifat Selain Saham Dipapan Akselerasi yang Ditertibkan
oleh Perusahaan Tercatat.
04-08-2022 BEI
Hearing the concept of amendment to regulation No. IV regarding special provisions for
listing shares and securities other than shares on the accelerated board which is
regulated by a listed company.

Audit Internal
Internal Audit
Audit Internal berfungsi untuk meningkatkan Internal Audit serves to increase the value and
nilai dan memperbaiki operasional Perusahaan improve the Company's operations by
dengan cara mengevaluasi dan meningkatkan evaluating and improving the effectiveness of
efektifitas manajemen risiko,pengendalian dan risk management, control and corporate
proses tata kelola perusahaan. Audit Internal governance processes. Internal Audit was
dibentuk mengacu pada POJK formed referring to POJK No.56/POJK.04/2015
No.56/POJK.04/2015 tentang pembentukan concerning the formation and guidelines for
dan pedoman penyusunan piagam unit audit drafting an internal audit unit charter.
internal.
Audit Internal diangkat dan diberhentikan oleh Internal Audit is appointed and dismissed by
Direktur Utama atas persetujuan Dewan the President Director with the approval of the
Komisaris. Board of Commissioners.
Tugas dan tanggung jawab Audit Duties and responsibilities of

Internal Internal Audit
Tugas dan tanggung jawab Audit Internal The duties and responsibilities of Internal Audit
antara lain: include:
1. Menyusun dan melaksanakan rencana audit 1. Develop and implement an annual internal
internal tahunan. audit plan.
2. Menguji dan mengevaluasi pelaksanaan 2. Examinating and evaluating the

pengendalian interen dan sistem implementation of internal control and
manajemen sesuai dengan kebijakan management systems in accordance with
Perseroan. the Company's policies.
3. Melakukan pemeriksaan dan penilaian atas 3. Conduct inspections and assessments of the
efisiensi dan efektivitas sistem manajemen efficiency and effectiveness of the
pada masing-masing bagian yang berlaku management system in each section
di Perseroan. applicable in the Company.
4. Membuat laporan hasil audit beserta 4. Prepare the audit report and its findings and
temuannya, dan memberikan saran untuk present suggestions for any improvements
perbaikan tentang aktifitas yang diperiksa. to the activities beingexamined.
5. Memantau, menganalisa dan melaporkan 5. Monitor, analyze and report on

pelaksanaan tindak lanjut perbaikan yang implementation of the improvements that
telah disarankan. have been suggested.
6. Menyusun program untuk mengevaluasi 6. Establishing a program to evaluate the

kualitas kegiatan audit internal. quality of audit internal activities.
Audit Internal bertanggung jawab dalam The Internal Audit is responsible for the audit
pelaksanaan kegiatan audit yang meliputi audit activities which includes Quality Management
Sistem Manajemen Mutu, audit operasional, System audits, Operational audits,
audit sistem Manajemen Lingkungan, audit Environmental Management System audits,
Sistem Manajemen Keselamatan dan Safety and Health Management System
Kesehatan Kerja (SMK3). (OHSAS) audits.

Audit Internal dipimpin oleh Bapak Khairilman Internal Audit is led by Mr. Khairilman Zusawar
Zusawar ST, MM dan telah diganti tertanggal 29 ST, MM and has been replaced on December
Desember 2022 Saudari Fenty Septianty, SE 29, 2022 by Sister Fenty Septianty, SE
berdasarkan Surat Penunjukan dari Direksi No. based on the Appointment Letter from the
LMP/SS/XII-080/09. Saudari Fenty, warga Board of Directors No. LMP/SS/XII-080/09.
negara Indonesia, lahir tahun 1975, meraih Sister Fenty, an Indonesian citizen, born in
gelar Sarjana Ekonomi di bidang Manajemen 1975, holds a Bachelor of Economics degree in
dari Universitas STIE. Memulai karirnya di Management from STIE University. Started
PT Sky Tellindo sebagai Marketing Administrasi his career at PT Sky Tellindo as Marketing
dan Analysis Survey Customer pada tahun Administration and Analysis Survey Customer
1998-1999. Kemudian bergabung dengan Lion in 1998-1999. Then he joined the Lion Group in
Group pada tahun 1999 sampai saat ini, 1999 until now, successively as Internal
berturut-turut sebagai Internal Quality Auditor, Quality Auditor, Quality Management
Quality Management Respresenstative dan Representative and finally as the Company's
terakhir sebagi Internal Audit Perseroan. Internal Audit
Audit Internal diangkat berdasarkan Surat Internal Audit is appointed based on the Letter
Keputusan Direksi tertanggal 29 Desember of Appointment from the Board of Directors
2022. dated December 29, 2022.
Pada tahun 2022, Audit Internal telah In Year 2022, Internal Audit has carried out the
melakukan kegiatan antara lain sebagai following activities:
berikut:
- Merencanakan dan melaksanakan kegiatan - Plan and carry out internal audit activitiesin
audit internal tahun 2022. 2022.
- Membuat laporan hasil audit. - Reported the result of audit report.
- Mengevaluasi efisensi dan efektifitas - Evaluate the effectiveness of the
pelaksanaan sistem pengendalian internal implementation of internal control systems
yang telah diterapkan termasuk that have been applied thoroughly,
produksi,penjualan dan distribusi barang including the production, sales and
dan jasa, persediaan bahan dan sumber distribution of goods andservices, materials
daya manusia. and human resources.
- Kebijakan dalam sistem pengendalian - Policies in the internal control system
internal membutuhkan kerja sama require the commitment and dedication of
komitmen dan dedikasi dari semua pihak. all parties.
- Pengendalian internal Perseroan dilakukan - Internal control of the Company is
dengan cara mematuhi Standard Operating conducted by complying with Standard
Prosedur (SOP) dalam sistem management Operating Procedures (SOP) in ISO
ISO dan audit. management system and audit.
- Pelaksanaan aplikasi sistem inventory & - Implementation of inventory & purchasing
purchasing, sistem order-invoicing- account system applications, order – invoicing -
receivable. account receivable processes.

Sistem Pengendalian Internal
Internal Control System
Sistem Pengendalian Internal merupakan The Internal Control System is a continuous
proses pengendalian berkesinambungan untuk control process to provide confidence in
memberikan keyakinan dalam pencapaian achieving the Company's objectives in
tujuan Perseroan sesuai peraturan yang accordance with applicable regulations. Policies
berlaku. Kebijakan dalam sistem pengendalian in the internal control system require
internal membutuhkan komitmen, kerja sama commitment, cooperation and dedication from
dan dedikasi dari semua pihak. Perseroan telah all parties. The Company has implemented an
menerapkan sistem manajemen yang terpadu integrated management system which
yang meliputi: includes:
1. Kegiatan operasional Perseroan sudah 1. 1. The Company's operational activities

menerapkan Sistem Manajemen Mutu ISO have implemented ISO 9001:2015 Quality
9001:2015, Sistem Manajemen Lingkungan Management System, ISO 14001:2015
ISO 14001:2015 dan Sistem Manajemen Environmental Management System and
Keselamatan & Kesehatan Kerja (SMK3) ISO45001:2018 Occupational Safety &
ISO45001:2018 yang tersertifikasi dan Health Management System (SMK3) which
diperbarui secara berkala. Semua kegiatan are certified and updated regularly. All of
usaha Perseroan diharapkan mematuhi the Company's business activities are
Standard Operating Prosedur (SOP) dalam expected to comply with Standard
sistem manajemen dan dilakukan audit Operating Procedures (SOP) in the
secara berkala. Laporan secara berkala management system and are audited
diberikan kepada manajemen sebagai periodically. Reports are regularly provided
bagian dari sistem pengendalian untuk to management as part of the control
meminimalkan risiko. system to minimize risk.
2. Penyusunan Pelaporan Keuangan dirancang 2. Preparation of Financial Reporting is
dan dilaksanakan sesuai peraturan dan designed and carried out in accordance with
prinsip akutansi yang berlaku, untuk applicable regulations and accounting
memberikan keyakinan atas ketepatan dan principles, to provide assurance on the
keandalan pelaporan Keuangan yang baik accuracy and reliability of Financial
secara internal maupun untuk kepentingan reporting both for internal and for external
eksternal. purposes.
3. Audit Internal secara berkala 3. Internal Audit regularly communicates with
berkomunikasi dengan Sekretaris the Corporate Secretary in reviewing the
Perusahaan dalam meninjau kepatuhan Company’s compliance with applicable laws
Perseroan terhadap hukum dan peraturan and regulations.
yang berlaku.
Manajemen Perseroan melakukan tinjauan dan If there are employees who violate the Code of
evaluasi secara berkala atas pelaksanaan Ethics, the Company will impose sanctions
sistem manajemen untuk memastikan kegiatan through a Warning Letter mechanism. If it is
operasional berjalan dengan lancar, laporan deemed to be a serious and fundamental
keuangan disajikan secara akurat dan dapat violation, termination of employment can be
diandalkan, serta Perseroan selalu mematuhi enforced in accordance with applicable
hukum dan peraturan yang berlaku. regulations.

Kode Etik
Code of Ethics
Kode Etik Perseroan merupakan pedoman yang The Company's Code of Ethics is a set of
berlaku di lingkungan Perseroan terdiri dari guidelines that applies within the Company
nilai, etika bisnis, etika kerja dan norma- norma consisting of values, business ethics, work
yang disusun untuk membentuk, mengatur dan ethics and norms to establish, regulate and
melakukan kesesuaian perilaku guna mencapai carry out appropriate behavior in accordance
hasil yang konsisten sesuai dengan budaya with the Company's culture achieving the
Perseroan dalam mencapai visi dan misi Company's vision and mission.
Perseroan.
Kode etik berlaku untuk seluruh karyawan The code of ethics applies to all employees of
Perseroan dan Entitas anaknya termasuk the Company and its subsidiaries, including the
Direksi dan Dewan Komisaris. Board of Directors and the Board of
Commissioners.
Seluruh karyawan Perseroan mulai dari jajaran All employees of the Company from the Board
Dewan Komisaris dan Direksi memiliki of Commissioners and Directors are committed
komitmen untuk menjunjung tinggi dan to upholding and complying with the Company's
mematuhi kode etik Perseroan. code of ethics.
Sosialisasi Kode Etik dilakukan dengan Socialization of the Code of Ethics is carried out
beberapa cara, diantaranya: sosialisasi/training in several ways, including: socialization/
untuk karyawan baru pengumuman- training for new employees, announcements,
pengumuman, pembagian PKB (Perjanjian distribution of PKB (Joint Work Agreements).
Kerja Bersama).
Apabila terdapat karyawan yang melakukan If there are employees who violate the Code
pelanggaran terhadap Kode Etik, Perseroan of Ethics, the Company will impose sanctions
akan memberikan sanksi melalui mekanisme through a Warning Letter mechanism. If it is
Surat Peringatan dan apabila dipandang deemed to be a serious and fundamental
pelanggaran berat dan mendasar maka bisa violation, termination of employment can be
diberlakukan pemutusan hubungan kerja enforced in accordance with applicable
sesuai dengan ketentuan yang berlaku. regulations.

Manajemen Risiko
Risk Management
Manajemen risiko merupakan upaya untuk Risk management is an effort to identify,

mengidentifikasi, menganalisis, dan analyze and control risks in every activity of the
mengendalikan risiko dalam setiap aktivitas Company. In anticipating and minimizing
Perseroan. Dalam mengantisipasi dan business risks that arise against the Company,
meminimalkan risiko usaha yang timbul interests of shareholders can be protected and
terhadap Perseroan, kepentingan pemegang the Company’s operations will not be disrupted.
saham dapat terlindungi dan operasional
Perseroan tidak terganggu.
Penerapan manajemen risiko adalah bagian The application of risk management is an

yang tidak terpisahkan dari proses manajemen integral part of the management process to
untuk mengidentifikasi potensi-potensi risiko identify the potential risks faced along with
yang dihadapi beserta langkah-langkah mitigation measures to minimize the negative
mitigasi untuk meminimalkan dampak negatif impact of the risks and maximize the profitable
dari risiko dan memaksimalkan potensi yang potential. The Company is committed to
menguntungkan. Perseroan berkomitmen managing risk consistently and continuously.
untuk mengelola risiko secara konsisten dan
berkesinambungan.
Risiko yang teridentifikasi oleh Perseroan dan The Company’s identified risks and how they
cara pengelolaannya meliputi: are managed include:
1. Risiko Pemasaran 1. Marketing Risk

Situasi pasar yang belum stabil pada sektor The unstable market situation in the office
perkantoran, sektor pengembangan sector, property development and
properti dan konstruksi mengakibatkan construction sectors resulted in weakening
melemahnya permintaan atas produk demand for office equipment products. The
peralatan kantor. Perseroan berupaya Company seeks to monitor the
untuk memantau perkembangan harga jual development of selling prices in the market
di pasaran melalui jaringan through a network of distributors/dealers
distributor/dealer dan melakukan and make necessary adjustments. The
penyesuaian-penyesuaian yang diperlukan. company continues to develop marketing in
Perseroan terus mengembangkan sectors related to infrastructure,
pemasaran pada sektor-sektor yang distribution and logistics which are still
berkaitan dengan infrastruktur, distribusi showing good growth by taking into account
dan logistik yang masih menunjukkan the financial health of customers.
pertumbuhan yang baik dengan
memperhatikan kesehatan keuangan
pelanggan.
2. Risiko Bahan Baku 2. Raw Material Risk

Untuk menghadapi fluktuasi harga bahan To deal with fluctuations in the price of steel
baku baja dan menjaga kelancaran raw materials and to maintain a smooth
pasokannya, Perseroan menerapkan supply, the Company implements an
kebijakan tingkat persediaan dengan inventory level policy by aligning supply and
menyelaraskan antara persediaan dan demand for the Company's products.
kebutuhan akan produk Perseroan.
3. Risiko Valuta Asing 3. Risiko Valuta Asing

Perseroan berupaya menyelaraskan jumlah The Company monitors and adjusts the
uang dalam valuta asing dan mata uang proportion of its funds which are
rupiah dalam hal adanya transaksi dalam denominated in foreign currencies and
mata uang asing sehingga tidak Rupiah. Certain business transactions are
menimbulkan kerugian selisih kurs yang invoiced in foreign currencies to avoid the
cukup besar, dan selalu menjaga arus kas exposure of exchange rate risks. The
serta kondisi keuangan Perseroan. Company also closely monitors its cash
flows and the Company’s financial
condition.

4. Risiko Kredit 4. Credit Risk
Risiko kredit adalah risiko yang timbul Credit risk is the risk arising from customers
akibat kegagalan pelanggan dalam failing to fulfill their payment obligations to
memenuhi kewajiban pembayarannya the Company. The company screens new
kepada Perusahaan. Perusahaan menyaring customers and projects before entering into
pelanggan dan proyek baru sebelum contracts. An internal credit limit is given to
menandatangani kontrak. Batas kredit each customer based on the customer's
internal diberikan kepada setiap pelanggan past payment track record, financial
berdasarkan rekam jejak pembayaran condition and other factors. The Company's
masa lalu pelanggan, kondisi keuangan dan customers are diversified, such as dealers,
faktor lainnya. Pelanggan Perseroan projects and companies. The Company
beragam, seperti dealer, proyek dan monitors outstanding receivables from
perusahaan. Perseroan memonitor piutang customers closely to minimize bad debt.
dari pelanggan dengan cermat untuk
meminimalkan piutang tak tertagih.
5. Risiko Aset 5. Assets Risk

Perseroan mengasuransikan bangunan, Company has insured its buildings,
mesin, persediaan barang dan peralatan machineries, stock inventories, tools and
termasuk uang tunai, agar terhindar dari cash to avoid losses due to fire and other
kerugian akibat kebakaran dan risiko risks.
lainnya.
6. Risiko Likuiditas 6. Liquidity Risk

Manajemen risiko likuiditas bertujuan untuk Liquidity risk management aims to ensure
memastikan bahwa Perseroan memiliki that the Company has sufficient funds to
kecukupan dana untuk memenuhi meet its financial obligations. The Company
kewajiban-kewajiban keuangannya. maintains sufficient cash flow to support its
Perseroan menjaga kelancaran arus kas operations by balancing current assets and
untuk mendukung kelancaran operasional current liabilities, so that obligations that
dengan menyeimbangkan antara aset are due can be fulfilled properly.
lancar dan kewajiban lancar, sehingga
kewajiban-kewajiban yang telah jatuh
tempo dapat dipenuhi dengan baik.
7. Risiko Bencana Non Alam 7. Non-Natural Disaster Risk

Risiko pandemi Covid-19 pada tahun 2022, The risk of the Covid-19 pandemic in 2022
masih menjadi risiko yang perlu diwaspadai is still a risk that needs to be monitored
walaupun sudah makin terkendali. even though it is getting under control.
Pembatasan Pergerakan Kegiatan Restrictions on the Movement of
Masyarakat (PPKM) baru saja dihentikan Community Activities (PPKM) were only
pada akhir tahun 2022, namun dapat recently stopped at the end of 2022 but
dilanjutkan kembali ketika muncul varian may resume when new fast-spreading
baru yang menyebar cepat. Perseroan variants emerge. The company always
selalu mematuhi dan memantau penerapan complies with and monitors the
protokol kesehatan yang ditetapkan implementation of health protocols set by
pemerintah dan juga mendorong vaksinasi the government and also encourages the
COVID-19 kesatu, kedua dan booster first, second and booster COVID-19
kepada seluruh karyawan dan masyarakat. vaccinations for all employees and the
community.
Tinjauan atas Efektivitas Sistem Review of the Effectiveness of the Risk

Manajemen Risiko Management System
Perseroan melakukan pemantauan dan The Company monitors and evaluates risks
evaluasi atas risiko melalui masing-masing through each department. The Board of
departemen. Direksi bersama dengan internal Directors together with the internal audit
audit melakukan kajian dan langkah-langkah conducts studies and steps needed in managing
yang diperlukan dalam mengelola dan mitigasi and mitigating the risks that exist in the
risiko-risiko yang ada dalam operasional Company's operations.
Perseroan.

Program Kepemilikan Saham oleh Karyawan dan Manajemen
Employee and Management Stock Option Program
Sampai dengan akhir tahun 2022 Perseroan As of the end of 2022, the Company does not
belum memiliki program kepemilikan saham have any management and employee stock
oleh karyawan maupun manajemen. option program.
Sistem Pelaporan Pelanggaran

Whistle Blowing System
Sistem Pelaporan Pelanggaran (Whistle Blowing The Whistle Blowing System is the Company's
System) merupakan upaya Perseroan dalam effort to improve the quality of the
meningkatkan kualitas pelaksanaan Tata Kelola implementation of Good Corporate Governance
Perusahaan yang Baik (GCG). Sistem ini (GCG). This system applies to all parties,
berlaku untuk semua pihak baik pimpinan, leaders, employees, and external parties
karyawan, maupun pihak eksternal yang terkait related to the Company to report violations.
dengan Perseroan untuk melakukan pelaporan
pelanggaran.
Perseroan menyediakan media penyampaian The Company provides ways for submitting
pelaporan dugaan pelanggaran, melalui: reports of alleged violations, through:
Via email : ptlion@lionmetal.co.id - Via email : ptlion@lionmetal.co.id
Kotak saran dan pengaduan yang ditempatkan - Suggestion and complaint boxes placed in
pada beberapa lokasi. several locations.
-
Perseroan menjamin kerahasiaan identitas The Company guarantees the confidentiality of
setiap pelapor dugaan pelanggaran the identity of each whistleblower.
(whistleblower).
Aduan yang diterima dievaluasi terlebih dahulu Complaints received are first evaluated on the
pokok permasalahan dan kebenarannya dan subject matter and truth and reported to the
dilaporkan kepada Direksi untuk Board of Directors for follow-up.
ditindaklanjuti.

Perkara Penting dan Permasalahan Hukum
Important Case and Legal Issues
Pada tanggal 2 Juli 2014, Perseroan On July 2, 2014, the Company filed a civil
mengajukan surat gugatan perdata melawan lawsuit against the Provincial Government of
hukum penguasa kepada Pemerintah Provinsi Jakarta regarding SIPPT No. 1075 of 1995
Daerah Khusus Ibukota Jakarta atas SIPPT No. dated 19 September 1995 which affected part
1075 tahun 1995 tertanggal 19 September of the 37,130 m2 land owned by the Company
1995 yang merupakan bagian dari tanah milik under HBG No. 13. The said order on road
perseroan dengan HGB No. 13 seluas 37.130 construction had mandated 8,227 m2 of land to
m2, dimana ada sebidang tanah yang terkena be surrendered to the Jakarta Government
rencana jalan seluas 8.227 m2 agar diserahkan without compensation.
kepada pemerintah DKI Jakarta tanpa ganti
rugi.
Berdasarkan surat pemberitahuan isi Putusan Based on the notification by the East Jakarta
Pengadilan Negeri Jakarta Timur District Court No.219/Pdt.G/2014/PN.JKT.TIM
No.219/Pdt.G/2014/PN.JKT.TIM tanggal 3 dated August 3, 2015 on the decision of
Agustus 2015, memberitahukan tentang isi the East Jakarta District Court on June 11,
putusan Pengadilan Negeri Jakarta Timur 2015, the East Jakarta District Court had
tanggal 11 Juni 2015. Pengadilan Jakarta Timur arrived at a decision on the matter as
telah memberikan keputusan atas perkara follows:
tersebut antara lain:
- Mengabulkan gugatan penggugat untuk - Accepted the plaintiff's lawsuit in part
sebagian.
- Menyatakan melarang untuk segera - Not required to immediately hand over the
menyerahkan tanah tersebut dengan land under any circumstances until there is
alasan apapun juga sampai dengan adanya a final and binding Management Court
suatu Putusan Pengadilan Manajemen yang decision.
telah berkekuatan hukum tetap.
- Menghukum tergugat atau jajaran - Require the defendant or its subordinates to
dibawahnya apa bila inginmempergunakan purchase land owned by the plaintiff under
tanah tersebut untuk fasilitas jalan membeli the provisions of the laws on buying and
tanah milik pengugat berdasarkan selling and based on the provisions of the
ketentuan dalam hukum jual beli applicable statutes on land acquisitions for
berpedoman pada ketentuan Undang- public interest if they want to use the land
Undang pengadaan tanah bagi kepentingan to facilitate the construction of a road.
umum.
Tahun 2016 perkara ini masih dalam proses dan In Year 2016, the Management and its legal
belum mempunyai kekuatan hukum tetap. counsel are of the opinion that the above-
Manajemen dan konsultan hukum berpendapat mentioned case will not have a material effect
bahwa perkara tersebut diatas tidak akan on the financial condition of the Company and
mempunyai pengaruh terhadap kinerja dan its operations. The Management will continue to
kondisi keuangan karena tanah tersebut pada endeavour to resolve the case on an amicable
saat ini di pergunakan sebagai tempat parkir basis.
kendaraan sehingga tidak mengganggu
operasional Perseroan.

TANGGUNG JAWAB SOSIAL PERSEROAN
Corporate Social Responsibility
Tanggung jawab sosial (Coroprate Social The Company's Corporate Social Responsibility
Responsibility) Perseroan merupakan bagian policy is part of the Company's efforts to
dari upaya Perusahaan untuk mengembangkan, develop, empower and improve the quality of
memberdayakan dan meningkatkan kualitas people's lives.
kehidupan masyarakat.
Perseroan telah melaksanakan CSR secara The company has carried out CSR in a
berkelanjutan melalui beberapa aspek, sustainable manner through several aspects,
diantaranya: including:
Sosial Social
Perseroan melaksanakan beberapa kegiatan The company carries out several social
sosial seperti pemberian sumbangan bagi anak activities such as giving donations to orphans
yatim piatu bagi masyarakat sekitar lingkungan for the community around the company's
perseroan, sumbangan perayaan HUT environment, donations to celebrate the
Kemerdekaan RI bagi Sekolah Menengah Independence Day of the Republic of Indonesia
Pertama (SMP) 256 Jakarta Timur, serta for East Jakarta 256 Junior High School (SMP),
pemberian dana sosial bagi Dinas Pemadam as well as providing social funds for the Fire
Kebakaran. Department.
Pendidikan Education
Dalam dunia pendidikan, Perseroan In education, the Company participates in

berpartisipasi dalam memberikan sumbangan providing donations to PAUD (Early Childhood
kepada PAUD (Pendidikan Anak Usia Dini) Education) in the form of books, stationery, and
sekiitar berupa buku-buku, alat tulis, dan alat- educational aids which are useful for educators
alat peraga pendidikan yang bermanfaat bagi and children in the PAUD.
tenaga pendidik dan anak-anak di PAUD
tersebut.
Kesehatan Health
Dalam rangka upaya mencegah dan In an effort to prevent and minimize the
meminimalisir penularan Covid 19, Perseroan transmission of Covid 19, the Company also
juga menerapkan WFH (Work From Home) implements WFH (Work From Home) as the
sebagaimana himbauan Pemerintah di dalam Government calls for during the PPKM period.
masa PPKM.

Disamping itu Perseroan menerapkan In addition, the Company implemented
beberapa langkah seperti menyediakan several steps such as providing hand
sarana cuci tangan, hand sanitizer, washing facilities, hand sanitizers,
pemberian vitamin dan obat-obatan, providing vitamins and medicines,
pemberian masker kepada seluruh providing masks to all employees on a
karyawan secara rutin serta melakukan tes regular basis and conducting rapid antigen
rapid antigen kepada karyawan yang tests for employees conducted by the
dilakukan oleh poliklinik Perseroan. Company's polyclinic.
Disamping itu, Perseroan juga telah In addition, the Company has also carried
menjalankan kegiatan Pemeriksaaan out Health Check Up activities for
Kesehatan / Medical Cek Up, baik bagi employees before entering work routinely
karyawan sebelum masuk kerja maupun and periodically in collaboration with
secara rutin atau berkala bekerjasama Hospitals, such as Ananda Bekasi Hospital
dengan Rumah Sakit, seperti RS Ananda and Bella Bekasi Hospital for employees,
Bekasi dan RS Bella Bekasi bagi karyawan as an effort by the Company to care about
khususnya produksi sebagai upaya dari the health and work safety of its
Perseroan peduli terhadap kesehatan dan employees.
keselamatan kerja karyawannya.
Keagamaan Religious
Perseroan juga turut serta memberikan The Company also participates in making
sumbangan pada hari besar keagamaan, donations on religious holidays, such as
seperti pemberian hewan kurban berupa giving sacrificial animals in the form of
sapi bagi lingkungan RT dan RW sekitar cows for the RT and RW environment
wilayah Cakung Timur serta Perseroan around the East Cakung area and the
juga memberikan hewan kurban untuk Company also provides sacrificial animals
desa / kelurahan Cilandak Purwakarta. for the village/kelurahan Cilandak
Purwakarta.
Pada tahun 2022 Perseroan telah In 2022, the Company allocated CSR funds
menyalurkan dana CSR sebesar Rp182,20 amounting to Rp182,20 million.
juta.

SURAT PERNYATAAN
Statement
Surat Pernyataan Statement of
Dewan Komisaris dan Direksi Board of Commissioners and Directors
tentang Tanggung Jawab atas regarding the Responsibility for
Laporan Tahunan 2022 2022 Annual Report of
PT Lion Metal Works Tbk PT Lion Metal Works Tbk
Kami yang bertanda tangan di bawah ini We, the undersigned, hereby declare that all
menyatakan bahwa semua informasi dalam information in the 2022 Annual Report of
Laporan Tahunan PT LION METAL WORKS Tbk PT LION METAL WORKS Tbk has been
tahun 2022 telah dimuat secara lengkap dan presented in its entirety and that we assume
bertanggung jawab penuh atas kebenaran isi full responsibility for the validity ofthe Annual
Laporan Tahunan. Report.
Demikian pernyataan ini dibuat dengan This statement is hereby made in all
sebenarnya. truthfulness.
April 2023 / April 2023
ANGGOTA DIREKSI
MEMBER OF DIRECTORS
Cheng Yong Kim Lim Tai Pong Ir. H. Krisant Sophiaan Msc
Direktur Utama Direktur Direktur
President Director Director Director
Lawer Supendi Cheng Zhi Wei Bsc MBA

Direktur Direktur
Director Director
ANGGOTA KOMISARIS
MAMBER OF COMMISSIONERS
Cheng Yong Kwang Lee Whay Keong Kalistus DD Making SE,. Ak,. CPAI
Komisaris Utama Komisaris Komisaris Independen
President Commissioner Commissioner Independent Commissioner

PT LION METAL WORKS TBK
DAN ENTITAS ANAKNYA
LAPORAN KEUANGAN KONSOLIDASIAN

TANGGAL 31 DESEMBER 2022
SERTA UNTUK TAHUN YANG BERAKHIR
PADA TANGGAL TERSEBUT
DAN LAPORAN AUDITOR INDEPENDEN
PT LION METAL WORKS Tbk
DAN ENTITAS ANAKNYA
LAPORAN KEUANGAN KONSOLIDASIAN
TANGGAL 31 DESEMBER 2022
SERTA UNTUK TAHUN YANG BERAKHIR
PADA TANGGAL TERSEBUT
DAN LAPORAN AUDITOR INDEPENDEN
Daftar Isi
Halaman
Surat Pernyataan Direksi
Laporan Auditor Independen
Laporan Posisi Keuangan Konsolidasian ..................................................................................... 1-2
Laporan Laba Rugi dan Penghasilan

Komprehensif Lain Konsolidasian ......................................................................................... 3
Laporan Perubahan Ekuitas Konsolidasian .................................................................................. 4
Laporan Arus Kas Konsolidasian .................................................................................................. 5
Catatan atas Laporan Keuangan Konsolidasian .......................................................................... 6 - 62

28
DAN ENTITAS ANAKNYA
LAPORAN POSISI KEUANGAN KONSOLIDASIAN
Tanggal 31 Desember 2022
(Disajikan dalam Rupiah, kecuali dinyatakan lain)
2021 2020
(Disajikan kembali (Disajikan kembali
Catatan 2022 Catatan 31) Catatan 31)
ASET
ASET LANCAR
Kas dan setara kas 4 47.307.400.933 99.398.874.411 129.156.773.909
Deposito berjangka 5 48.084.719.917 37.493.496.823 20.475.657.622
Piutang usaha bersih
Pihak ketiga - setelah dikurangi
penyisihan kerugian kredit ekspektasian
masing - masing sebesar
Rp 32.383.245.645
dan Rp 12.215.587.232 pada
31 Desember 2022 dan 2021 6 118.280.105.350 109.793.407.528 109.012.840.612
Pihak berelasi - setelah dikurangi
penyisihan kerugian kredit ekspektasian
sebesar Rp 2.340.779.734
dan Rp 2.513.656.619 pada
31 Desember 2022 dan 2021 6,26 22.724.657.316 30.091.393.423 15.510.178.667
Piutang karyawan 771.060.000 2.102.742.500 2.005.275.000
Persediaan - setelah dikurangi cadangan
penurunan nilai sebesar
Rp 532.443.070 pada tanggal
31 Desember 2022 dan 2021 7 232.978.356.169 192.548.410.163 148.996.220.302
Uang muka pemasok 3.233.073.219 2.204.251.587 1.446.571.178
Total Aset Lancar 473.379.372.904 473.632.576.435 426.603.517.290
ASET TIDAK LANCAR

Deposito berjangka yang
dibatasi penggunaannya 5 35.000.000.000 39.000.000.000 39.000.000.000
Piutang lain-lain
Pihak berelasi 26 1.414.924.815 1.414.924.815 1.414.924.815
Aset pajak tangguhan 12 28.282.153.583 25.268.650.765 29.529.302.457
Aset tetap - setelah dikurangi akumulasi
penyusutan sebesar
Rp 146.500.559.401 dan
Rp 138.630.169.597 pada
31 Desember 2022 dan 2021 8 83.853.311.663 87.577.193.967 91.100.397.128
Aset hak guna 9 3.050.862.197 395.948.685 1.187.846.051
Properti investasi - neto 10 59.517.253.319 59.517.253.319 59.517.253.319
Total Aset Tidak Lancar 211.118.505.577 213.173.971.551 221.749.723.770
TOTAL ASET 684.497.878.481 686.806.547.986 648.353.241.060
Catatan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian.
1
DAN ENTITAS ANAKNYA
LAPORAN POSISI KEUANGAN KONSOLIDASIAN (lanjutan)
2021 2020
(Disajikan kembali (Disajikan kembali
Catatan 2022 Catatan 31) Catatan 31)
LIABILITAS
LIABILITAS JANGKA PENDEK

Utang usaha - pihak ketiga 11 23.603.400.660 16.897.309.385 10.970.214.441
Utang pajak 12 10.202.066.742 5.646.716.069 3.355.537.806
Biaya masih harus dibayar 535.000.000 515.000.000 495.000.000
Uang muka pelanggan 13 52.836.036.678 74.875.981.914 42.217.535.351
Utang dividen 2.054.266.175 2.054.266.175 2.054.266.175
Utang lain-lain 2.950.000 2.950.000 154.458.133
Imbalan kerja - bagian jangka pendek 23 10.460.914.624 10.928.200.442 15.360.963.135
Liabilitas jangka panjang jatuh tempo
dalam waktu satu tahun:
Pinjaman bank 14 35.000.000.000 35.000.000.000 35.000.000.000
Liabilitas sewa 9 602.735.117 - 846.423.382
Total Liabilitas Jangka Pendek 135.297.369.996 145.920.423.985 110.454.398.423
LIABILITAS JANGKA PANJANG

Bagian jangka panjang: 23 72.396.244.496 75.063.398.467 67.940.438.400
Imbalan kerja
Liabilitas sewa 9 1.989.525.730 - -
TOTAL LIABILITAS 209.683.140.222 220.983.822.452 178.394.836.823
EKUITAS
Modal saham - nilai nominal
Rp 100 per saham
Modal dasar - 2.000.000.000 saham
Modal ditempatkan dan disetor
penuh - 520.160.000 saham 15 52.016.000.000 52.016.000.000 52.016.000.000
Tambahan modal disetor - neto 1.954.630.221 1.954.630.221 1.954.630.221
Saldo laba
Telah ditentukan penggunaannya 10.018.000.000 9.968.000.000 9.918.000.000
Belum ditentukan penggunaannya 410.826.108.038 401.884.095.313 406.069.774.016
Total Ekuitas 474.814.738.259 465.822.725.534 469.958.404.237
TOTAL LIABILITAS DAN EKUITAS 684.497.878.481 686.806.547.986 648.353.241.060
2
DAN ENTITAS ANAKNYA
LAPORAN LABA RUGI DAN PENGHASILAN
KOMPREHENSIF LAIN KONSOLIDASIAN
Untuk Tahun Yang Berakhir Pada Tanggal
31 Desember 2022
2021 (Disajikan
Catatan 2022 Kembali Catatan 31)
PENJUALAN NETO 19,26 408.811.497.547 300.280.285.514
BEBAN POKOK PENJUALAN 20,26 261.709.423.619 198.452.832.964
LABA BRUTO 147.102.073.928 101.827.452.550
BEBAN USAHA 21
Umum dan administrasi (110.040.745.795 ) (79.152.745.924 )
Penjualan dan pemasaran (32.911.593.263 ) (32.094.511.706 )
Total Beban Usaha (142.952.339.058 ) (111.247.257.630 )
LABA (RUGI) USAHA 4.149.734.870 (9.419.805.080 )

PENGHASILAN (BEBAN) LAIN-LAIN
Penghasilan keuangan 2.274.096.846 2.685.081.951
Beban bunga (1.304.938.253 ) (1.510.473.718 )
Penghasilan lain-lain - neto 22 2.375.150.224 6.868.982.082
Penghasilan Lain-lain - neto 3.344.308.817 8.043.590.315
LABA (RUGI) SEBELUM

PAJAK PENGHASILAN 7.494.043.687 (1.376.214.765 )
BEBAN PAJAK
PENGHASILAN - NETO 12 (5.179.680.928 ) (7.361.474.890 )
LABA (RUGI) TAHUN BERJALAN 2.314.362.759 (8.737.689.655 )
PENGHASILAN KOMPREHENSIF LAIN

Pos-pos yang tidak akan
direklasifikasikan ke laba rugi
pada periode berikutnya:
Pengukuran kembali liabilitas
imbalan kerja 23 8.561.089.700 5.158.719.654
Manfaat pajak penghasilan terkait 12 (1.883.439.734 ) (556.708.702 )
Penghasilan (rugi) komprehensif lain

- setelah pajak 6.677.649.966 4.602.010.952
TOTAL LABA (RUGI) KOMPREHENSIF 8.992.012.725 (4.135.678.703 )

LABA (RUGI) NETO PER SAHAM
DASAR 28 4 (17 )
3
DAN ENTITAS ANAKNYA
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN
31 Desember 2022
Saldo laba
Modal Saham
Ditempatkan Tambahan Telah Belum
dan Disetor Modal Disetor Ditentukan Ditentukan Total
Catatan Penuh - neto Penggunaannya Penggunaannya Ekuitas
Saldo 1 Januari 2021/ 52.016.000.000 1.954.630.221 9.918.000.000 379.252.821.512 443.141.451.733

31 Desember 2020
(Disajikan sebelumnya)
Penyesuaian sehubungan
dengan penyajian kembali
penerapan PSAK 24 -
pengatribusian imbalan
pada periode jasa 31 - - - 26.816.952.504 26.816.952.504
Saldo 1 Januari 2021/

31 Desember 2020
(disajikan kembali) 31 52.016.000.000 1.954.630.221 9.918.000.000 406.069.774.016 469.958.404.237
Pembentukan cadangan
umum 50.000.000 (50.000.000 ) -
Rugi tahun berjalan - - - (8.737.689.655 ) (8.737.689.655 )

Penghasilan komprehensif
lainnya:
Pengukuran kembali
liabilitas imbalan kerja 23 - - - 5.158.719.654 5.158.719.654
Pajak penghasilan terkait 12 - - - (556.708.702 ) (556.708.702 )
Saldo 31 Desember 2021 52.016.000.000 1.954.630.221 9.968.000.000 401.884.095.313 465.822.725.534
Pembentukan cadangan
umum - - 50.000.000 (50.000.000 ) -
Laba tahun berjalan - - - 2.314.362.759 2.314.362.759
Penghasilan komprehensif
lainnya:
Pengukuran kembali
liabilitas imbalan kerja 23 - - - 8.561.089.700 8.561.089.700
Pajak penghasilan terkait 12 - - - (1.883.439.734 ) (1.883.439.734 )
Saldo 31 Desember 2022 52.016.000.000 1.954.630.221 10.018.000.000 410.826.108.038 474.814.738.259
4
DAN ENTITAS ANAKNYA
LAPORAN ARUS KAS KONSOLIDASIAN
31 Desember 2022
Catatan 2022 2021

ARUS KAS DARI AKTIVITAS OPERASI
Penerimaan kas dari pelanggan 387.813.993.206 323.444.535.470
Pembayaran kepada pemasok
dan beban operasional (275.081.459.318 ) (203.339.447.321 )
Pembayaran kepada karyawan (151.287.459.526 ) (132.465.435.562 )
Kas yang digunakan untuk operasi (38.554.925.638 ) (12.360.347.413 )
Penerimaan atas:
Penghasilan bunga 2.274.096.846 2.685.081.950
Penghasilan sewa 394.200.000 394.200.000
Pembayaran untuk:
Beban bunga (1.304.938.253 ) (1.510.473.718 )
Pajak penghasilan (5.118.549.178 ) (542.148.063 )
Beban lain-lain (55.135.000 ) (214.033.434 )
Kas Neto digunakan untuk Aktivitas Operasi (42.365.251.223 ) (11.547.720.678 )
ARUS KAS DARI AKTIVITAS

INVESTASI
Hasil dari penjualan aset tetap 8 69.050.000 146.450.000
Perolehan aset tetap 8 (4.278.207.500 ) (1.009.061.936 )
Penempatan deposito (6.591.223.094 ) (17.017.839.201 )
Kas Neto Digunakan untuk Aktivitas

Investasi (10.800.380.594 ) (17.880.451.137 )
ARUS KAS DARI AKTIVITAS
PENDANAAN
Pembayaran porsi pokok liabilitas sewa 9, 30 (720.000.000 ) (853.000.000 )
PENURUNAN NETO KAS DAN
SETARA KAS (53.885.631.817 ) (30.281.171.815 )
KAS DAN SETARA KAS PADA

AWAL TAHUN 99.398.874.411 129.156.773.909
DAMPAK PERUBAHAN ATAS

SELISIH KURS SETELAH KENAIKAN
NETO KAS 1.794.158.339 523.272.317
KAS DAN SETARA KAS PADA

AKHIR TAHUN 4 47.307.400.933 99.398.874.411
5
DAN ENTITAS ANAKNYA
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN
Serta Untuk Tahun Yang Berakhir Pada Tanggal Tersebut
1. UMUM
a. Pendirian dan Informasi Umum
PT Lion Metal Works (Perseroan) didirikan di Indonesia dalam rangka Undang-undang

Penanaman Modal Asing No. 1 tahun 1967 juncto No. 11 tahun 1970 (terakhir diubah
dengan Undang-undang No. 25 tahun 2007) berdasarkan Akta Notaris Drs. Gede Ngurah
Rai, S.H., No. 21 tanggal 16 Agustus 1972 dan diubah dengan Akta No. 1 tanggal 2 Juni
1973 dan Akta No. 9 tanggal 11 Nopember 1974 dari Notaris yang sama. Akta Pendirian dan
perubahannya diumumkan dalam Berita Negara No. 34 tanggal 29 April 1975 Tambahan
No. 215. Anggaran Dasar Perseroan telah mengalami beberapa kali perubahan, antara lain
dengan Akta Notaris Fathiah Helmi, S.H., No. 41 tanggal 27 Agustus 1999, terutama dalam
rangka memenuhi Peraturan Badan Pengawas Pasar Modal No. Kep-44/PM/1998 tentang
peningkatan modal tanpa hak memesan efek terlebih dahulu. Perubahan Anggaran Dasar ini
mendapat persetujuan Menteri Kehakiman Republik Indonesia dengan surat No. C-19408
HT.01.04.-TH.99 tertanggal 30 Nopember 1999. Perubahan terakhir dengan Akta Notaris
Fathiah Helmi, SH., No. 05 tanggal 4 Juni 2015 terutama mengenai perubahan nilai nominal
saham dari semula Rp 1.000 per saham menjadi Rp 100 per saham. Perubahan telah
disetujui oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dengan Surat
Keputusan No. AHU-3527532.AH.01.11.Tahun 2015 tanggal 1 Juli 2015.
Sesuai dengan Pasal 3 Anggaran Dasar Perseroan, maksud dan tujuan serta kegiatan usaha
Perseroan adalah melaksanakan kegiatan usaha utama yaitu menjalankan usaha dalam
bidang industri dan perdagangan dari logam seperti:
a. Industri furnitur dari logam

b. Industri berankas, filling kantor dan sejenisnya
c. Industri barang dari logam bukan alumunium siap pasang untuk bangunanan
d. Industri barang dari logam siap pasang untuk konstruksi lainnya
e. Industri barang dari logam aluminium siap pasang untuk bangunan
f. Industri furniture untuk operasi, perawatan kedokteran dan kedokteran gigi
g. Konstruksi bangunan elektrikal
h. Instalasi mekanikal
i. Dekorasi interior
j. Pemasangan atap/roof covering
k. Industri alat pengangkat dan pemindah
l. Industri barang dari kawat
m. Perdagangan besar mesin, peralatan dan perlengkapan lainnya
n. Perdagangan besar barang logam untuk bahan konstruksi
o. Perdagangan besar atas dasar balas jasa (fee) atau kontrak
Perseroan mulai beroperasi secara komersial pada tahun 1974.
Perseroan berkedudukan di Jalan Raya Bekasi, Km. 24,5, Cakung, Jakarta Timur.
6
DAN ENTITAS ANAKNYA
1. UMUM (lanjutan)
b. Penawaran Umum Perseroan
Pada tahun 1993, Perseroan melakukan penawaran umum saham kepada masyarakat
sebanyak 3.000.000 saham. Setelah pembagian 3.251.000 saham sebagai dividen saham,
3.251.000 saham bonus, dan Penawaran Umum Terbatas Hak Memesan Efek Terlebih
Dahulu I sebanyak 32.510.000 saham pada tahun 1996, jumlah saham Perseroan yang
dicatatkan di bursa efek di Indonesia meningkat menjadi 520.016.000 saham (termasuk
10.004.000 saham yang telah ditempatkan dan disetor penuh sebelum adanya penawaran
umum).
c. Entitas Anak yang Dikonsolidasi
Perseroan memiliki pemilikan langsung, lebih dari 50% saham entitas anak sebagai berikut:
Total aset sebelum eliminasi
Kegiatan Usaha Tahun Operasi
Entitas Anak Lokasi Utama Persentase Komersial 2022 2021
2022 2021
PT Singa Purwakarta Jaya Purwakarta Kawasan Industri 99,99% 99,99% Dalam Tahap 116.560.099.238 118.639.287.236
Pengembangan
d. Karyawan, Dewan Komisaris, Direksi dan Komite Audit

Per 31 Desember 2022 dan 2021, susunan anggota Dewan Komisaris dan Direksi
berdasarkan keputusan Rapat Umum Pemegang Saham Tahunan yang diselenggarakan
pada tanggal 15 Juli 2022 dan 25 Agustus 2021, adalah sebagai berikut:
Dewan Komisaris
Presiden Komisaris : Cheng Yong Kwang
Komisaris : Lee Whay Keong
Komisaris independen : Kalistus Decimus Deke Making
Direksi
Presiden Direktur : Cheng Yong Kim
Direktur : Lim Tai Pong
Direktur : Ir. Krisant Sophiaan
Direktur : Tjoe Tjoe Peng (Lawer Supendi)
Direktur : Cheng Zhi Wei
Komite Audit
Komisaris Independen : Kalistus Decimus Deke Making
Anggota : Shelly, SE
Anggota : Kenny Jesusanto, SE
Total karyawan tetap Perseroan pada tanggal 31 Desember 2022 dan 2021 masing-masing
sebanyak 753 orang dan 785 orang (tidak diaudit).
e. Penyelesaian Laporan Keuangan Konsolidasian
Manajemen bertanggung jawab atas penyusunan dan penyajian wajar laporan keuangan
konsolidasian ini, sesuai dengan Standar Akuntansi Keuangan di Indonesia, yang
diselesaikan dan disetujui untuk diterbitkan oleh Direksi Perseroan dan Entitas Anaknya pada
tanggal 28 Maret 2023.
7
DAN ENTITAS ANAKNYA
2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN

a. Dasar Penyusunan Laporan Keuangan Konsolidasian
Laporan keuangan konsolidasian PT Lion Metal Works Tbk disusun berdasarkan Standar
Akuntansi Keuangan di Indonesia (SAK), yang mencakup Pernyataan Standar Akuntansi
Keuangan (PSAK) dan Interpretasi Standar Akuntansi Keuangan (ISAK) yang diterbitkan oleh
Dewan Standar Akuntansi Keuangan Ikatan Akuntan Indonesia (DSAK-IAI) serta peraturan
regulator pasar modal untuk entitas yang berada di bawah pengawasannya.
Kebijakan akuntansi yang diterapkan dalam penyusunan laporan keuangan konsolidasian

adalah selaras dengan kebijakan akuntansi yang diterapkan dalam penyusunan laporan
keuangan konsolidasian Perseroan dan Entitas Anaknya untuk tahun yang berakhir pada
tanggal 31 Desember 2021, kecuali bagi penerapan beberapa PSAK yang telah direvisi.
Seperti diungkapkan dalam catatan-catatan terkait atas laporan keuangan, beberapa standar
akuntansi yang telah direvisi dan diterbitkan, diterapkan efektif tanggal 1 Januari 2022.
Perseroan dan Entitas Anaknya telah menyusun laporan keuangan konsolidasian dengan
dasar bahwa Perseroan dan Entitas Anaknya akan terus mempertahankan kelangsungan
usaha.
Laporan keuangan konsolidasian kecuali untuk laporan arus kas, disusun berdasarkan
konsep akrual dan dasar pengukuran dengan menggunakan konsep harga historis, kecuali
beberapa akun tertentu yang disusun berdasarkan pengukuran lain sebagaimana diuraikan
dalam kebijakan akuntansi masing-masing akun tersebut.
Laporan arus kas konsolidasian disusun dengan menggunakan metode langsung dengan
mengelompokkan arus kas ke dalam aktivitas operasi, investasi dan pendanaan.
Mata uang pelaporan yang digunakan dalam penyusunan laporan keuangan konsolidasian ini
adalah mata uang Rupiah yang merupakan mata uang fungsional Perseroan dan Entitas
Anaknya.
Seluruh angka dalam laporan keuangan konsolidasian ini, dibulatkan dan disajikan dalam
Rupiah (Rp), kecuali dinyatakan lain.
Untuk memberikan pemahaman yang lebih baik atas kinerja keuangan Perseroan dan Entitas
Anaknya, karena sifat dan jumlahnya yang signifikan, beberapa item pendapatan dan beban
telah disajikan secara terpisah.
8
DAN ENTITAS ANAKNYA
2. IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN (lanjutan)
b. Amendemen/Penyesuaian Standar yang Berlaku Efektif pada Tahun Berjalan
Dalam tahun berjalan, Perseroan dan Entitas Anaknya telah menerapkan sejumlah
amendemen/ penyesuaian PSAK yang relevan dengan operasinya dan efektif untuk periode
akuntansi yang dimulai pada atau setelah 1 Januari 2022. Penerapan atas PSAK revisi tidak
mengakibatkan perubahan atas kebijakan akuntansi Perseroan dan Entitas Anaknya dan
tidak memiliki dampak material terhadap jumlah yang dilaporkan pada tahun berjalan atau
tahun-tahun sebelumnya.
• PSAK 73 (Amendemen), “Sewa”: Konsensi sewa terkait Covid-19 setelah 30 Juni

2021
Amendemen tersebut memperpanjang kebijakan praktis konsesi sewa terkait Covid-19

dimana segala bentuk pengurangan pembayaran sewa hanya memengaruhi pembayaran
sewa pada atau sebelum tanggal 30 Juni 2022.
• PSAK 22 (Amendemen), “Kombinasi Bisnis”: Referensi ke Kerangka Konseptual
Amendemen PSAK 22 ini mengklarifikasi interaksi antara PSAK 22, PSAK 57, ISAK 30
dan Kerangka Konseptual Pelaporan Keuangan tanpa mengubah persyaratan akuntansi
untuk kombinasi bisnis.
• PSAK 71 (Penyesuaian Tahunan 2020), “Instrumen Keuangan”
PSAK 71 (Penyesuaian 2020) mengklarifikasi fee (imbalan) yang diakui oleh peminjam
terkait penghentian pengakuan liabilitas keuangan. Dalam menentukan fee (imbalan) yang
dibayarkan setelah dikurangi fee (imbalan) yang diterima, peminjam hanya memasukkan
fee (imbalan) yang dibayarkan atau diterima antara peminjam dan pemberi pinjaman,
termasuk fee (imbalan) yang dibayar atau diterima baik peminjam atau pemberi pinjaman
atas nama pihak lain.
• PSAK 73 (Penyesuaian Tahunan 2020), “Sewa”
PSAK 73 (Penyesuaian Tahunan 2020) menghilangkan dari contoh ilustrasi penggantian

biaya properti sewaan dari pesewa untuk mengatasi potensi kebingungan terkait perlakuan
insentif sewa yang mungkin timbul karena bagaimana insentif sewa diilustrasikan dalam
contoh tersebut.
9
DAN ENTITAS ANAKNYA
c. Standar dan Amendemen Standar Telah Diterbitkan Tapi Belum Diterapkan
Pada tanggal persetujuan laporan keuangan konsolidasian, standar, interpretasi dan

amendemen-amendemen atas PSAK yang relevan bagi Perseroan dan Entitas Anaknya,
yang telah diterbitkan namun belum berlaku efektif, dengan penerapan dini diijinkan, adalah
sebagai berikut:
Efektif untuk periode yang dimulai pada atau setelah tanggal 1 Januari 2023
• PSAK 1 (Amendemen), “Penyajian Laporan Keuangan”: Klasifikasi Liabilitas sebagai

Jangka Pendek atau Jangka Panjang
Amendemen PSAK 1, “Penyajian Laporan Keuangan” mengklarifikasi bahwa kewajiban

diklasifikasikan sebagai lancar atau tidak lancar, berdasarkan pada hak yang ada pada
akhir periode pelaporan. Klasifikasi tidak terpengaruh oleh ekspektasi entitas atau
peristiwa setelah tanggal pelaporan (misalnya penerimaan waiver atau pelanggaran
perjanjian). Amendemen tersebut juga mengklarifikasi apa yang dimaksud PSAK 1 perihal
'penyelesaian' liabilitas.
Amendemen tersebut dapat memengaruhi klasifikasi liabilitas, terutama untuk entitas yang
sebelumnya mempertimbangkan intensi manajemen untuk menentukan klasifikasi dan
untuk beberapa liabilitas yang dapat dikonversi menjadi ekuitas.
• PSAK 1 (Amendemen), “Penyajian Laporan Keuangan”: Pengungkapan Kebijakan

Akuntansi
Amendemen ini memberikan panduan dan contoh untuk membantu entitas menerapkan
pertimbangan materialitas dalam pengungkapan kebijakan akuntansi. Amendemen
tersebut bertujuan untuk membantu entitas menyediakan pengungkapan kebijakan
akuntansi yang lebih berguna dengan mengganti persyaratan untuk mengungkapkan
kebijakan akuntansi 'signifikan entitas dengan persyaratan untuk mengungkapkan
kebijakan akuntansi 'material' entitas dan menambahkan panduan tentang bagaimana
entitas menerapkan konsep materialitas dalam membuat keputusan tentang
pengungkapan kebijakan akuntansi.
• PSAK 16 (Amendemen), “Aset Tetap”: Hasil Sebelum Penggunaan yang Diintensikan
Amendemen tersebut melarang entitas untuk mengurangi biaya perolehan aset tetap dari
penerimaan dari penjualan yang dihasilkan oleh aset tetap sebelum penggunaan yang
diintensikan. Penerimaan atas penjualan memenuhi definisi pendapatan dan oleh karena
itu harus diakui dalam laba rugi.
• PSAK 25 (Amendemen), “Kebijakan Akuntansi, Perubahan Estimasi Akuntansi, dan

Kesalahan”: Definisi Estimasi Akuntansi
Amendemen tersebut memperkenalkan definisi 'estimasi akuntansi' dan mengklarifikasi

perbedaan antara perubahan estimasi akuntansi dan perubahan kebijakan akuntansi dan
koreksi kesalahan. Amendemen tersebut juga mengklarifikasi bagaimana entitas
menggunakan teknik pengukuran dan input untuk mengembangkan estimasi akuntansi.
10
DAN ENTITAS ANAKNYA
c. Standar dan Amendemen Standar Telah Diterbitkan Tapi Belum Diterapkan
• PSAK 46 (Amendemen), “Pajak Penghasilan”: Pajak Tangguhan terkait Aset dan Liabilitas
yang Timbul dari Transaksi Tunggal
Amendemen ini mengusulkan agar entitas mengakui aset maupun liabilitas pajak
tangguhan pada saat pengakuan awalnya sebagai contoh dari transaksi sewa, untuk
mengeliminasi perbedaan praktik saat ini atas transaksi tersebut dan transaksi lain yang
serupa.
Efektif untuk periode yang dimulai pada atau setelah tanggal 1 Januari 2024
• PSAK 1 (Amendemen), “Penyajian Laporan Keuangan”: Liabilitas Jangka Panjang dengan

Kovenan
Dalam amendemen ini liabilitas jangka panjang dengan kovenan disajikan sebagai
liabilitas jangka pendek atau panjang bergantung pada ada atau tidaknya hak untuk
menunda penyelesaian liabilitas. Kovenan dalam hal ini dibagi menjadi kovenan yang
memengaruhi dan tidak memengaruhi hak untuk menunda penyelesaian liabilitas
setidaknya 12 bulan setelah periode pelaporan.
• PSAK 73 (Amendemen), “Sewa”: Liabilitas Sewa dalam Jual dan Sewa Balik
Amendemen ini memperjelas pengaturan bagi entitas industri asuransi yang akan
melakukan penerapan awal PSAK 74 dan PSAK 71 dalam periode bersamaan.
Amandemen ini juga mengatasi isu penerapan yang terkait dengan informasi komparatif
yang akan disajikan pada penerapan awal untuk aset keuangan.
Sampai dengan tanggal penerbitan laporan keuangan konsolidasian, dampak dari penerapan
standar, amendemen dan interpretasi tersebut terhadap laporan keuangan konsolidasian
tidak dapat diketahui atau diestimasi oleh manajemen.
d. Klasifikasi Lancar/ Jangka Pendek dan Tidak Lancar/ Jangka Panjang

Kelompok usaha menyajikan aset dan liabilitas dalam laporan posisi keuangan konsolidasian
berdasarkan klasifikasi lancar/ /tidak lancar atau jangka pendek/jangka panjang. Suatu aset
disajikan lancar bila:
i) akan direalisasi, dijual atau dikonsumsi dalam siklus operasi normal,
ii) untuk diperdagangkan,
iii) akan direalisasi dalam 12 bulan setelah tanggal pelaporan, atau kas atau setara kas
kecuali yang dibatasi penggunaannya atau akan digunakan untuk melunasi suatu
liabilitas dalam paling lambat 12 bulan setelah tanggal pelaporan.
Seluruh aset lain-lain diklasifikasikan sebagai tidak lancar.
Suatu liabilitas disajikan sebagai jangka pendek bila:
i) akan dilunasi dalam siklus operasi normal,
ii) untuk diperdagangkan,
iii) akan dilunasi dalam 12 bulan setelah tanggal pelaporan, atau
iv) tidak ada hak tanpa syarat untuk menangguhkan pelunasannya dalam paling tidak 12
bulan setelah tanggal pelaporan.
11
DAN ENTITAS ANAKNYA
d. Klasifikasi Lancar/ Jangka Pendek dan Tidak Lancar/ Jangka Panjang (lanjutan)
Seluruh liabilitas lain diklasifikasikan sebagai jangka panjang.

Aset Perseroan diklasifikasikan sebagai aset tidak lancar dan liabilitas Perseroan
diklasifikasikan sebagai liabilitas jangka panjang.
e. Prinsip-Prinsip Konsolidasian
Laporan keuangan konsolidasian meliputi laporan keuangan konsolidasian Perseroan dan

Entitas Anaknya yang dikendalikan secara langsung ataupun tidak langsung oleh Perseroan.
Laporan keuangan Entitas anak disusun dengan periode pelaporan yang sama dengan
Perseroan. Kebijakan akuntansi yang digunakan dalam penyajian laporan keuangan
konsolidasian telah diterapkan secara konsisten oleh Perseroan dan Entitas Anaknya, kecuali
dinyatakan lain.
Entitas anak dikonsolidasi secara penuh sejak tanggal akuisisi, yaitu tanggal Perseroan
memperoleh pengendalian, sampai dengan tanggal Perseroan kehilangan pengendalian.
Pengendalian dianggap ada ketika Perseroan memiliki secara langsung atau tidak langsung
melalui entitas anak, lebih dari setengah kekuasaan suara entitas.
Secara spesifik, Perseroan mengendalikan investee jika dan hanya jika Perseroan memiliki
seluruh hal berikut ini:
a. kekuasaan atas investee (misal, hak yang ada memberikan kemampuan kini untuk
mengarahkan aktivitas relevan investee).
b. eksposur atau hak atas imbal hasil variabel dari keterlibatannya dengan investee, dan
c. kemampuan untuk menggunakan kekuasaannya atas investee untuk mempengaruhi
jumlah imbal hasil investor.
Ketika Perseroan memiliki kurang dari hak suara mayoritas, Perseroan dapat
mempertimbangkan semua fakta dan keadaan yang relevan dalam menilai apakah memiliki
kekuasaan atas investee tersebut:
a. pengaturan kontraktual dengan pemilik hak suara yang lain.
b. hak yang timbul dari pengaturan kontraktual lain.
c. hak suara dan hak suara potensial Perseroan.
Perseroan menilai kembali apakah investor mengendalikan investee jika fakta dan keadaan
mengindikasikan adanya perubahan terhadap satu atau lebih dari tiga elemen pengendalian.
Konsolidasi atas entitas anak dimulai ketika Perseroan memiliki pengendalian atas entitas
anak dan berhenti ketika Perseroan kehilangan pengendalian atas entitas anak. Aset,
liabilitas, penghasilan dan beban atas entitas anak yang diakuisisi atau dilepas selama
periode termasuk dalam laporan laba rugi dan penghasilan komprehensif lain konsolidasian
dari tanggal Perseroan memperoleh pengendalian sampai dengan tanggal Perseroan
menghentikan pengendalian atas entitas anak.
Laba atau rugi dan setiap komponen atas penghasilan komprehensif lain diatribusikan pada
pemegang saham entitas induk dan pada kepentingan nonpengendali (KNP), walaupun hasil
di kepentingan nonpengendali mempunyai saldo defisit.
12
DAN ENTITAS ANAKNYA
e. Prinsip-Prinsip Konsolidasian (lanjutan)
Transaksi antar Perseroan, saldo dan keuntungan serta kerugian yang belum direalisasi dari
transaksi antar Perseroan dan Entitas Anaknya dieliminasi. Semua aset dan liabilitas, ekuitas,
penghasilan, beban dan arus kas berkaitan dengan transaksi antar anggota Perseroan dan
Entitas Anaknya juga akan dieliminasi secara penuh dalam proses konsolidasi. Bila
diperlukan, penyesuaian dilakukan pada laporan keuangan entitas anak agar kebijakan
akuntansinya sesuai dengan kebijakan akuntansi Perseroan.
Transaksi dengan kepentingan nonpengendali yang tidak mengakibatkan hilangnya

pengendalian merupakan transaksi ekuitas. Selisih antara nilai wajar imbalan yang dibayar
dan bagian yang diakuisisi atas nilai tercatat aset neto entitas anak dicatat pada ekuitas.
Keuntungan atau kerugian pelepasan kepentingan nonpengendali juga dicatat pada ekuitas.
Perubahan kepemilikan pada entitas anak, tanpa kehilangan pengendalian, dihitung sebagai
transaksi ekuitas. Jika Perseroan dan Entitas Anaknya kehilangan pengendalian atas entitas
anak, maka Perseroan dan Entitas Anaknya:
a. menghentikan pengakuan aset (termasuk goodwill) dan liabilitas entitas anak;

b. menghentikan pengakuan jumlah tercatat setiap KNP;
c. menghentikan pengakuan akumulasi selisih penjabaran, yang dicatat di ekuitas;
d. mengakui nilai wajar pembayaran yang diterima;
e. mengakui setiap sisa investasi pada nilai wajarnya;
f. mengakui setiap perbedaan yang dihasilkan sebagai keuntungan atau kerugian dalam
laporan laba rugi; dan
g. mereklasifikasi ke laba rugi proporsi keuntungan dan kerugian yang telah diakui
sebelumnya dalam penghasilan komprehensif lain atau saldo laba, begitu pula menjadi
persyaratan jika Perseroan dan Entitas Anaknya akan melepas secara langsung aset
atau liabilitas yang terkait.
KNP mencerminkan bagian atas laba atau rugi dan aset bersih dari entitas anak yang tidak
dapat diatribusikan, secara langsung maupun tidak langsung, pada Perseroan, yang masing-
masing disajikan dalam laporan laba rugi dan penghasilan komprehensif lain konsolidasian
dan dalam ekuitas pada laporan posisi keuangan konsolidasian, terpisah dari bagian yang
dapat diatribusikan kepada pemilik entitas induk.
f. Kas dan Setara Kas
Kas dan setara kas terdiri dari kas, bank, deposito on call dan investasi jangka pendek
lainnya yang jatuh tempo dalam waktu tiga (3) bulan atau kurang yang tidak dijaminkan dan
dibatasi penggunaannya.
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DAN ENTITAS ANAKNYA
g. Instrumen Keuangan
Perseroan dan Entitas Anaknya mengklasifikasikan instrumen keuangan menjadi aset

keuangan dan liabilitas keuangan. Instrumen keuangan adalah setiap kontrak yang
menimbulkan aset keuangan pada satu entitas dan liabilitas keuangan atau instrumen ekuitas
pada entitas lain.
Klasifikasi
i. Aset keuangan
Aset keuangan diklasifikasikan pada saat pengakuan awal dan selanjutnya diukur pada
(i) biaya perolehan diamortisasi, (ii) nilai wajar melalui PKL (“FVTOCI”), dan (iii) nilai wajar
melalui laba rugi (“FVTPL”).
Perseroan dan Entitas Anaknya mengukur aset keuangan pada biaya perolehan
diamortisasi jika kedua kondisi berikut dipenuhi:
• Aset keuangan dikelola dalam model bisnis yang bertujuan untuk memiliki aset
keuangan dalam rangka mendapatkan arus kas kontraktual; dan
• Persyaratan kontraktual dari aset keuangan yang pada tanggal tertentu meningkatkan
arus kas yang semata dari pembayaran pokok dan bunga dari jumlah pokok terutang.
Agar dapat diklasifikasikan dan diukur pada biaya perolehan diamortisasi atau FVOCI,
aset keuangan harus memiliki arus kas yang semata dari pembayaran pokok dan bunga
dari jumlah pokok terutang. Pengujian ini dikenal sebagai solely payment of principal and
interest (SPPI) testing dan dilakukan pada tingkat instrumen.
Model bisnis Perseroan dan Entitas Anaknya dalam mengelola aset keuangan mengacu
kepada bagaimana Perseroan dan Entitas Anaknya mengelola aset keuangan untuk
menghasilkan arus kas. Model bisnis menentukan apakah arus kas akan dihasilkan dari
memperoleh arus kas kontraktual, menjual aset keuangan atau keduanya.
Aset keuangan Perseroan dan Entitas Anaknya terdiri dari kas dan setara kas, deposito
berjangka, piutang usaha, piutang karyawan, deposito berjangka yang dibatasi
penggunaannya dan piutang lain-lain pihak berelasi diklasifikasikan sebagai aset yang
diukur dengan biaya diamortisasi. Perseroan dan Entitas Anaknya tidak memiliki aset
keuangan yang diukur pada nilai wajar melalui laba rugi dan penghasilan komprehensif
lain.
ii. Liabilitas Keuangan

Perseroan dan Entitas Anaknya mengklasifikasikan liabilitas keuangannya sebagai (i)
liabilitas keuangan diukur pada FVTPL atau (ii) liabilitas keuangan diukur pada biaya
perolehan diamortisasi.
Liabilitas keuangan Perseroan dan Entitas Anaknya terdiri dari Pinjaman bank, utang
usaha, biaya yang masih harus dibayar dan utang dividen dan liabilitas sewa
diklasifikasikan sebagai liabilitas keuangan yang diukur dengan biaya diamortisasi.
Perseroan dan Entitas Anaknya tidak memiliki liabilitas keuangan yang diukur pada nilai
wajar melalui laba rugi.
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DAN ENTITAS ANAKNYA
g. Instrumen Keuangan (lanjutan)
Pengakuan dan Pengukuran
i. Aset keuangan
Aset keuangan dan liabilitas keuangan pada awalnya diukur pada nilai wajar. Biaya
transaksi yang dapat diatribusikan secara langsung dengan perolehan atau penerbitan
aset keuangan dan liabilitas keuangan ditambahkan atau dikurangkan dari nilai wajar aset
keuangan dan liabilitas keuangan, jika diperlukan, pada pengakuan awal. Biaya transaksi
yang dapat diatribusikan secara langsung dengan perolehan aset keuangan dan liabilitas
keuangan pada nilai wajar melalui laba rugi diakui langsung pada laba rugi.
Pembelian atau penjualan aset keuangan yang memerlukan penyerahan aset dalam
kurun waktu yang telah ditetapkan oleh peraturan atau kebiasaan yang berlaku di pasar
(pembelian yang lazim) diakui pada tanggal perdagangan, yaitu tanggal Perseroan dan
Entitas Anaknya berkomitmen untuk membeli atau menjual aset tersebut.
Semua aset keuangan yang diakui selanjutnya diukur secara keseluruhan pada biaya
perolehan yang diamortisasi atau nilai wajar, tergantung pada klasifikasi aset keuangan
tersebut. Semua aset keuangan Perseroan dan Entitas Anaknya diklasifikasikan sebagai
aset keuangan diukur pada biaya perolehan diamortisasi (instrumen utang).
Aset keuangan diukur pada biaya perolehan diamortisasi setelah pengakuan awal diukur
menggunakan metode suku bunga efektif dan merupakan subjek penurunan nilai.
Keuntungan dan kerugian diakui pada laba rugi saat aset dihentikan pengakuannya,
dimodifikasi atau mengalami penurunan nilai. Perhitungan tersebut mempertimbangkan
premium atau diskonto pada saat perolehan dan termasuk biaya transaksi dan biaya
yang merupakan bagian yang tak terpisahkan dari suku bunga efektif.
Liabilitas keuangan yang bukan merupakan 1) imbalan kontinjen dari pihak pengakuisisi
dalam kombinasi bisnis, 2) dimiliki untuk diperdagangkan, atau 3) ditetapkan sebagai
FVTPL, selanjutnya diukur pada biaya perolehan diamortisasi dengan menggunakan
metode suku bunga efektif. Seluruh liabilitas keuangan Perseroan dan Entitas Anaknya
diklasifikasikan sebagai liabilitas keuangan pada biaya perolehan diamortisasi.
Metode Suku Bunga Efektif
Metode suku bunga efektif adalah metode yang digunakan untuk menghitung biaya
perolehan diamortisasi dari liabilitas keuangan dan metode untuk mengalokasikan biaya
bunga selama periode yang relevan. Suku bunga efektif adalah suku bunga yang secara
tepat mendiskontokan estimasi pembayaran kas masa depan (mencakup seluruh komisi dan
bentuk lain yang dibayarkan dan diterima yang merupakan bagian yang tak terpisahkan dari
suku bunga efektif, biaya transaksi dan premium dan diskonto lainnya) selama perkiraan
umur liabilitas keuangan, atau (jika lebih tepat) digunakan periode yang lebih singkat untuk
memperoleh nilai tercatat bersih pada saat pengakuan awal.
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DAN ENTITAS ANAKNYA
Saling Hapus dari Instrumen Keuangan
Aset keuangan dan liabilitas keuangan saling hapus dan nilai bersihnya dilaporkan dalam
laporan posisi keuangan konsolidasian jika, dan hanya jika, saat ini memiliki hak yang
berkekuatan hukum untuk melakukan saling hapus atas jumlah yang telah diakui dan
terdapat maksud untuk menyelesaikan secara neto, atau untuk merealisasikan aset dan
menyelesaikan liabilitas secara bersamaan.
Penurunan Nilai Aset Keuangan
Perseroan dan Entitas Anaknya mengakui cadangan untuk kerugian kredit ekspektasian
(“ECL”) untuk seluruh instrumen utang yang tidak diklasifikasikan sebagai diukur pada
FVTPL. ECL didasarkan pada perbedaan antara arus kas kontraktual yang tertuang dalam
kontrak dan seluruh arus kas yang diharapkan akan diterima Perseroan dan Entitas Anaknya,
didiskontokan menggunakan suku bunga efektif awal. Arus kas yang diharapkan akan
diterima tersebut mencakup arus kas dari penjualan agunan yang dimiliki atau perluasan
kredit lainnya yang merupakan bagian integral dari persyaratan kontrak.
ECL diakui dalam dua tahap. Untuk risiko kredit atas instrumen keuangan yang tidak
mengalami peningkatan secara signifikan sejak pengakuan awal, pengukuran penyisihan
kerugian dilakukan sejumlah ECL 12 bulan. Untuk risiko kredit atas instrumen keuangan yang
mengalami peningkatan secara signifikan sejak pengakuan awal, penyisihan kerugian
dilakukan sepanjang sisa umurnya, terlepas dari waktu terjadinya default (sepanjang umur
ECL).
Untuk piutang usaha, Perseroan dan Entitas Anaknya menerapkan panduan praktis dalam
menghitung ECL. Oleh karena itu, Perseroan dan Entitas Anaknya tidak mengidentifikasi
perubahan dalam risiko kredit, melainkan mengukur penyisihan kerugian sejumlah ECL
sepanjang umur. Perseroan dan Entitas Anaknya telah membentuk matriks provisi yang
didasarkan pada data historis kerugian kredit, disesuaikan dengan faktor-faktor perkiraan
masa depan (forward-looking) khusus terkait pelanggan dan lingkungan ekonomi.
Perseroan dan Entitas Anaknya mempertimbangkan aset keuangan memenuhi definisi

default ketika telah menunggak lebih dari 1 tahun. Namun, dalam kasus-kasus tertentu,
Perseroan dan Entitas Anak juga dapat menganggap aset keuangan dalam keadaan default
ketika informasi internal atau eksternal menunjukkan bahwa Perseroan dan Entitas Anak
tidak mungkin menerima arus kas kontraktual secara penuh tanpa melakukan perluasan
persyaratan kredit. Piutang usaha dihapusbukukan ketika kecil kemungkinan untuk
memulihkan arus kas kontraktual, setelah semua upaya penagihan telah dilakukan dan telah
sepenuhnya dilakukan penyisihan.
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Penghentian Pengakuan
i. Aset Keuangan
Suatu aset keuangan, atau mana yang berlaku, bagian dari aset keuangan atau bagian
dari kelompok aset keuangan sejenis, dihentikan pengakuannya pada saat:
(a) hak kontraktual atas arus kas yang berasal dari aset keuangan tersebut berakhir; atau
(b) Perseroan dan Entitas Anaknya mentransfer hak kontraktual untuk menerima arus
kas yang berasal dari aset keuangan atau menanggung kewajiban untuk membayar
arus kas yang diterima tanpa penundaan yang signifikan kepada pihak ketiga melalui
suatu kesepakatan penyerahan dan (i) secara substansial mentransfer seluruh risiko
dan manfaat atas kepemilikan aset keuangan tersebut, atau (ii) secara substansial
tidak mentransfer dan tidak memiliki seluruh risiko dan manfaat atas kepemilikan aset
keuangan tersebut, namun telah mentransfer pengendalian atas aset keuangan
tersebut.
Ketika Perseroan dan Entitas Anaknya telah mentransfer hak untuk menerima arus kas
dari aset atau telah menandatangani kesepakatan pelepasan (pass through
arrangement), dan secara substansial tidak mentransfer dan tidak memiliki seluruh risiko
dan manfaat atas aset keuangan, maupun mentransfer pengendalian atas aset, aset
tersebut diakui sejauh keterlibatan berkelanjutan Perseroan dan Entitas Anaknya
terhadap aset keuangan tersebut.
Keterlibatan berkelanjutan yang berbentuk pemberian jaminan atas aset yang ditransfer
diukur sebesar jumlah terendah dari jumlah tercatat aset dan jumlah maksimal dari
pembayaran yang diterima yang mungkin harus dibayar kembali.
Dalam hal ini, Perseroan dan Entitas Anaknya juga mengakui liabilitas terkait. Aset yang
ditransfer dan liabilitas terkait diukur dengan dasar yang mencerminkan hak dan liabilitas
yang masih dimiliki Perseroan dan Entitas Anaknya.
Pada saat penghentian pengakuan atas aset keuangan secara keseluruhan, maka selisih
antara nilai tercatat dan jumlah dari (i) pembayaran yang diterima, termasuk setiap aset
baru yang diperoleh dikurangi setiap liabilitas baru yang harus ditanggung; dan (ii) setiap
keuntungan atau kerugian kumulatif yang diakui penghasilan komprehensif lain harus
diakui pada laporan laba rugi.
Liabilitas keuangan dihentikan pengakuannya ketika kewajiban yang ditetapkan dalam

kontrak dihentikan atau dibatalkan atau kadaluwarsa.
Ketika liabilitas keuangan saat ini digantikan dengan yang lain dari pemberi pinjaman
yang sama dengan persyaratan yang berbeda secara substansial, atau modifikasi secara
substansial atas ketentuan liabilitas keuangan yang saat ini ada, maka pertukaran atau
modifikasi tersebut dicatat sebagai penghapusan liabilitas keuangan awal dan pengakuan
liabilitas keuangan baru, dan selisih antara nilai tercatat liabilitas keuangan tersebut
diakui dalam laba atau rugi.
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DAN ENTITAS ANAKNYA
h. Transaksi dan Saldo dalam Mata Uang Asing
Pembukuan Perseroan dan Entitas Anaknya diselenggarakan dalam mata uang Rupiah.
Transaksi dalam mata uang asing dijabarkan ke dalam Rupiah dengan kurs yang berlaku
pada tanggal transaksi. Pada akhir periode pelaporan, aset dan liabilitas moneter dalam mata
uang asing dijabarkan ke dalam Rupiah dengan menggunakan kurs tengah yang ditetapkan
oleh Bank Indonesia pada tanggal tersebut. Laba atau rugi dari selisih kurs mata uang asing
dan penjabaran aset dan liabilitas moneter dalam mata uang Rupiah diakui dalam laba rugi
periode berjalan, kecuali untuk laba atau rugi pertukaran yang timbul dari penjabaran laporan
keuangan operasi asing ke mata uang penyajian Perseroan dan Entitas Anaknya, yang diakui
langsung dalam pendapatan komprehensif lainnya.
Pada tanggal 31 Desember 2022 dan 2021, kurs yang digunakan adalah sebagai berikut:
2022 2021
Dolar Amerika Serikat 15.731 14.269
i. Transaksi dengan Pihak-Pihak Berelasi

Pihak-pihak berelasi adalah orang atau entitas yang terkait dengan Perseroan dan Entitas
Anaknya:
a. Orang atau anggota keluarga dekatnya yang mempunyai relasi dengan Perseroan dan
Entitas Anaknya jika orang tersebut:
(i) memiliki pengendalian atau pengendalian bersama atas Perseroan dan Entitas
Anaknya;
(ii) memiliki pengaruh signifikan atas Perseroan dan Entitas Anaknya; atau
(iii) personil manajemen kunci Perseroan dan Entitas Anaknya.
b. Suatu entitas berelasi dengan Perseroan dan Entitas Anaknya jika memenuhi salah satu
hal berikut:
(i) entitas dan Perseroan dan Entitas Anaknya adalah anggota dari kelompok usaha
yang sama (artinya entitas induk, entitas anak, dan entitas anak berikutnya saling
berelasi dengan entitas lainnya).
(ii) satu entitas adalah entitas asosiasi atau ventura bersama dari entitas lain (atau
entitas asosiasi atau ventura bersama yang merupakan anggota suatu kelompok
usaha, yang mana entitas lain tersebut adalah anggotanya).
(iii) kedua entitas tersebut adalah ventura bersama dari pihak ketiga yang sama.
(iv) satu entitas adalah ventura bersama dari entitas ketiga dan entitas yang lain adalah
entitas asosiasi dari entitas ketiga.
(v) entitas tersebut adalah suatu program imbalan pasca kerja untuk imbalan kerja dari
Perseroan atau entitas yang terkait dengan Perseroan.
(vi) entitas yang dikendalikan atau dikendalikan bersama oleh orang yang diidentifikasi
dalam huruf a).
(vi) orang yang diidentifikasi dalam huruf a) i) memiliki pengaruh signifikan atas entitas
atau merupakan personil manajemen kunci entitas (atau entitas induk dari entitas).
(viii) Entitas, atau anggota dari kelompok yang mana entitas merupakan bagian dari
kelompok tersebut, menyediakan jasa personil manajemen kunci kepada Perseroan
dan Entitas Anaknya atau kepada entitas induk dari Perseroan dan Entitas Anaknya.
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DAN ENTITAS ANAKNYA
i. Transaksi dengan Pihak-Pihak Berelasi (lanjutan)
Transaksi ini dilakukan berdasarkan persyaratan yang disetujui oleh kedua belah pihak.
Beberapa persyaratan tersebut mungkin tidak sama dengan persyaratan yang dilakukan
dengan pihak-pihak yang tidak berelasi.
Seluruh transaksi dan saldo dengan pihak-pihak berelasi diungkapkan dalam catatan atas
laporan Keuangan konsolidasian.
j. Persediaan
Persediaan dinyatakan sebesar nilai yang lebih rendah antara harga perolehan dan nilai
realisasi bersih. Biaya perolehan ditentukan dengan menggunakan metode masuk pertama
keluar pertama (FIFO). Harga perolehan barang jadi dan pekerjaan dalam proses terdiri dari
bahan baku, tenaga kerja langsung, biaya langsung lainnya dan biaya overhead produksi
(berdasarkan kapasitas normal operasi). Persediaan tidak mencakup biaya pinjaman.
Nilai realisasi neto adalah taksiran harga jual dalam kegiatan usaha normal, dikurangi dengan
estimasi biaya penyelesaian dan taksiran biaya yang diperlukan untuk melaksanakan
penjualan.
Penyisihan untuk persediaan usang dan penurunan nilai persediaan, jika ada, dilakukan
dengan mengurangi nilai tercatat persediaan ke nilai realisasi neto persediaan berdasarkan
hasil penelaahan terhadap keadaan persediaan pada akhir tahun.
k. Biaya Dibayar di Muka
Biaya dibayar di muka diamortisasi selama manfaat masing-masing biaya dengan

menggunakan metode garis lurus.
l. Aset Tetap
Aset tetap dinyatakan sebesar biaya perolehan dikurangi akumulasi penyusutan dan rugi
penurunan nilai. Biaya perolehan termasuk biaya penggantian bagian aset tetap saat biaya
tersebut terjadi, jika memenuhi kriteria pengakuan. Selanjutnya, pada saat inspeksi yang
signifikan dilakukan, biaya inspeksi itu diakui ke dalam jumlah tercatat (“carrying amount”)
aset tetap sebagai suatu penggantian jika memenuhi kriteria pengakuan. Semua biaya
perbaikan dan pemeliharaan yang tidak memenuhi kriteria pengakuan diakui dalam laporan
laba rugi pada saat terjadinya.
Penyusutan dihitung sebagai berikut:
Metode Tarif (%)
Mesin dan peralatan Saldo menurun ganda 25

Peralatan pabrik dan kantor Saldo menurun ganda 25
Kendaraan bermotor Saldo menurun ganda 50
Instalasi listrik Saldo menurun ganda 5
Bangunan dan prasarana Metode garis lurus 5
Tanah dinyatakan pada harga perolehan dan tidak disusutkan.
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DAN ENTITAS ANAKNYA
l. Aset Tetap (lanjutan)
Setelah penerapan PSAK 73, Perseroan menganalisa fakta dan keadaan untuk masing-
masing jenis hak atas tanah dalam menentukan akuntansi untuk masing-masing hak atas
tanah tersebut sehingga dapat merepresentasikan dengan tepat suatu kejadian atau
transaksi ekonomik yang mendasarinya. Jika hak atas tanah tersebut tidak mengalihkan
pengendalian atas aset pendasar kepada Perseroan, melainkan mengalihkan hak untuk
menggunakan aset pendasar, Perseroan menerapkan perlakuan akuntansi atas transaksi
tersebut sebagai sewa berdasarkan PSAK 73, “Sewa”. Jika hak atas tanah secara substansi
menyerupai pembelian tanah, maka Perseroan menerapkan PSAK 16 “Aset tetap”.
Nilai tercatat aset tetap dihentikan pengakuannya pada saat dilepaskan atau saat tidak ada
manfaat ekonomis masa depan yang diharapkan dari penggunaannya. Laba atau rugi yang
timbul dari penghentian pengakuan aset diakui dalam laporan laba rugi pada tahun aset
tersebut dihentikan pengakuannya.
Nilai residu, umur manfaat dan metode penyusutan ditelaah dan disesuaikan, pada akhir
periode pelaporan, jika diperlukan.
Entitas anak memiliki properti yang disewakan kepada dan yang digunakan oleh entitas
induknya. Properti tersebut tidak diklasifikasikan sebagai properti investasi dalam laporan
keuangan konsolidasian, karena properti tersebut termasuk properti yang digunakan sendiri
jika dilihat dari sudut pandang kelompok usaha. Namun, jika dilihat dari sudut pandang
entitas yang memiliki properti, properti tersebut termasuk kategori properti investasi. Dengan
demikian, lessor memperlakukan kepemilikan properti tersebut sebagai properti investasi
dalam laporan keuangan individualnya.
Entitas anak memiliki tanah dan bangunan yang disewakan kepada entitas induk sehingga
bukan merupakan properti investasi dan direklasifikasi sebagai aset tetap dalam laporan
keuangan konsolidasian.
m. Properti Investasi
Properti investasi dinyatakan sebesar biaya perolehan termasuk biaya transaksi dikurangi
akumulasi penyusutan dan penurunan nilai, jika ada, kecuali tanah yang tidak disusutkan.
Jumlah tercatat termasuk bagian biaya penggantian dari properti investasi yang ada pada
saat terjadinya biaya, jika kriteria pengakuan terpenuhi, dan tidak termasuk biaya harian
penggunaan properti investasi.
Properti investasi terdiri dari tanah, jalan dan prasarana yang dikuasai entitas anak untuk
menghasilkan sewa atau untuk kenaikan nilai atau kedua-duanya, dan tidak untuk digunakan
dalam produksi atau penyediaan barang atau jasa untuk tujuan administratif atau dijual dalam
kegiatan usaha sehari-hari.
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DAN ENTITAS ANAKNYA
m. Properti Investasi (lanjutan)
Properti investasi dihentikan pengakuannya pada saat pelepasan atau ketika properti
investasi tersebut tidak digunakan lagi secara permanen dan tidak memiliki manfaat
ekonomis di masa depan yang dapat diharapkan pada saat pelepasannya. Laba atau rugi
yang timbul dari penghentian atau pelepasan properti investasi diakui dalam laporan laba rugi
dalam tahun terjadinya penghentian atau pelepasan tersebut.
Transfer ke properti investasi dilakukan jika, dan hanya jika, terdapat perubahan penggunaan
yang ditunjukkan dengan berakhirnya pemakaian oleh pemilik, dimulainya sewa operasi ke
pihak lain atau selesainya pembangunan atau pengembangan. Transfer dari properti
investasi dilakukan jika, dan hanya jika, terdapat perubahan penggunaan yang ditunjukkan
dengan dimulainya penggunaan oleh pemilik atau dimulainya pengembangan untuk dijual.
Untuk transfer dari properti investasi ke properti yang digunakan sendiri, Perseroan dan
Entitas Anaknya menggunakan metode biaya pada tanggal perubahan penggunaan. Jika
properti yang digunakan sendiri oleh Perseroan dan Entitas Anaknya menjadi properti
investasi, Perseroan dan Entitas Anaknya mencatat properti tersebut sesuai dengan
kebijakan aset tetap sampai dengan saat tanggal terakhir perubahan penggunaannya.
n. Penurunan Nilai Aset Non-Keuangan
Pada setiap akhir periode pelaporan, Perseroan dan Entitas Anaknya menilai apakah
terdapat indikasi suatu aset mengalami penurunan nilai. Jika terdapat indikasi tersebut atau
pada saat pengujian secara tahunan penurunan nilai aset diperlukan, maka Perseroan dan
Entitas Anaknya membuat estimasi jumlah terpulihkan aset tersebut.
Rugi penurunan nilai diakui sebagai rugi tahun berjalan.
Rugi penurunan nilai akan dipulihkan jika terdapat perubahan dalam taksiran yang digunakan
untuk menentukan nilai aset non-keuangan yang dapat dipulihkan (recoverable amount). Rugi
penurunan nilai hanya akan dipulihkan sampai sebatas nilai tercatat aset non-keuangan tidak
boleh melebihi nilai terpulihkannya maupun nilai tercatat yang seharusnya diakui, setelah
dikurangi depresiasi atau amortisasi, jika tidak ada pengakuan rugi penurunan nilai aset non-
keuangan. Pembalikan rugi penurunan nilai diakui dalam laba rugi.
o. Sewa
Sebagai lessee
Perseroan menilai apakah sebuah kontrak mengandung sewa, pada tanggal insepsi kontrak.
Perseroan mengakui aset hak guna dan liabilitas sewa terkait sehubungan dengan seluruh
kesepakatan sewa dimana Perseroan merupakan penyewa, kecuali untuk sewa jangka-
pendek (yang didefinisikan sebagai sewa yang memiliki masa sewa 12 bulan atau kurang)
dan sewa yang aset pendasarnya bernilai rendah. Untuk sewa-sewa tersebut, Perseroan
mengakui pembayaran sewa sebagai beban operasi secara garis lurus selama masa sewa
kecuali dasar sistematis lainnya lebih merepresentasikan pola konsumsi manfaat penyewa
dari aset sewa.
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o. Sewa (lanjutan)
Liabilitas sewa awalnya diukur pada nilai kini pembayaran sewa masa depan yang belum
dibayarkan pada tanggal permulaan, yang didiskontokan menggunakan suku bunga implisit
dalam sewa. Jika suku bunga ini tidak dapat ditentukan, Perseroan menggunakan suku
bunga pinjaman inkremental khusus untuk penyewa.
Pembayaran sewa yang diperhitungkan dalam pengukuran liabilitas sewa terdiri atas:
• pembayaran tetap (termasuk pembayaran tetap secara-substansi), dikurangi insentif
sewa;
• pembayaran sewa variabel yang bergantung pada indeks atau suku bunga yang pada
awalnya diukur dengan menggunakan indeks atau suku bunga pada tanggal permulaan;
• jumlah yang diperkirakan akan dibayarkan oleh penyewa dalam jaminan nilai residual;
• harga eksekusi opsi beli jika penyewa cukup pasti untuk mengeksekusi opsi tersebut; dan
• pembayaran penalti karena penghentian sewa, jika masa sewa merefleksikan penyewa
mengeksekusi opsi untuk menghentikan sewa.
Liabilitas sewa disajikan sebagai pos terpisah dalam laporan posisi keuangan konsolidasian.
Liabilitas sewa selanjutnya diukur dengan meningkatkan jumlah tercatat untuk merefleksikan
bunga atas liabilitas sewa (menggunakan metode suku bunga efektif) dan dengan
mengurangi jumlah tercatat untuk merefleksikan sewa yang telah dibayar.
Setiap pembayaran sewa dialokasikan antara liabilitas dan biaya keuangan. Biaya keuangan
dibebankan pada laba rugi selama periode sewa sehingga menghasilkan tingkat suku bunga
periodik yang konstan atas saldo liabilitas untuk setiap periode.
Perseroan mengukur kembali liabilitas sewa (dan melakukan penyesuaian terkait terhadap
aset hak guna) jika:
- terdapat perubahan dalam masa sewa atau perubahan dalam penilaian atas eksekusi
opsi pembelian, di mana liabilitas sewa diukur dengan mendiskontokan pembayaran sewa
revisian menggunakan tingkat diskonto revisian;
- terdapat perubahan sewa masa depan sebagai akibat dari perubahan indeks atau
perubahan perkiraan pembayaran berdasarkan nilai residual jaminan di mana liabilitas
sewa diukur kembali dengan mendiskontokan pembayaran sewa revisian menggunakan
tingkat diskonto awal (kecuali jika pembayaran sewa berubah karena perubahan suku
bunga mengambang, di mana tingkat diskonto revisian digunakan); atau
- kontrak sewa dimodifikasi dan modifikasi sewa tidak dicatat sebagai sewa terpisah, di
mana liabilitas sewa diukur dengan mendiskontokan pembayaran sewa revisian
menggunakan tingkat diskonto revisian.
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DAN ENTITAS ANAKNYA
o. Sewa (lanjutan)
Aset hak guna terdiri dari pengukuran awal atas liabilitas sewa, pembayaran sewa yang
dilakukan pada saat atau sebelum permulaan sewa dan biaya langsung awal. Aset hak guna
selanjutnya diukur sebesar biaya dikurangi akumulasi penyusutan dan kerugian penurunan
nilai.
Jika Perseroan dibebankan kewajiban atas biaya membongkar dan memindahkan aset sewa,
merestorasi tempat di mana aset berada atau merestorasi aset pendasar ke kondisi yang
disyaratkan oleh syarat dan ketentuan sewa, provisi diakui dan diukur sesuai PSAK 57. Biaya
tersebut diperhitungkan dalam aset hak guna terkait, kecuali jika biaya tersebut terjadi untuk
memproduksi persediaan.
Aset hak guna selanjutnya diukur dengan harga perolehan dikurangi akumulasi penyusutan
dan penurunan nilai. Aset hak guna disusutkan secara garis lurus selama jangka waktu sewa
yang lebih pendek dan estimasi masa manfaat aset, sebagai berikut:
Tahun
Gedung kantor 4
Aset hak guna disusutkan selama periode yang lebih singkat antara masa sewa dan masa
manfaat aset pendasar. Jika sewa mengalihkan kepemilikan aset pendasar atau jika biaya
perolehan aset hak guna merefleksikan Perseroan akan mengeksekusi opsi beli, aset hak
guna disusutkan selama masa manfaat aset pendasar. Penyusutan dmulai pada tanggal
permulaan sewa.
Aset hak guna disajikan sebagai pos terpisah di laporan posisi keuangan konsolidasian.
p. Imbalan Kerja
Imbalan kerja jangka pendek
Imbalan kerja jangka pendek adalah imbalan kerja yang jatuh tempo dalam jangka waktu dua
belas bulan setelah akhir periode pelaporan dan diakui pada saat pekerja telah memberikan
jasa kerjanya. Kewajiban diakui ketika karyawan memberikan jasa kepada Perseroan dimana
semua perubahan pada nilai bawaan dari kewajiban diakui pada laba rugi.
Manfaat imbalan pasti
Perseroan mengakui kewajiban imbalan kerja yang tidak didanai sesuai dengan Undang-
undang Ketenagakerjaan No. 13/2003, tanggal 25 Maret 2003, dan sesuai dengan Peraturan
Perseroan (Perjanjian Kerja Bersama) yang masih berlaku sampai tanggal 31 Desember
2022, dan Perseroan belum menerapkan pengaturan Perppu No.2/2022 tentang Cipta Kerja
pada tahun 2022.
Beban pensiun berdasarkan program dana pensiun manfaat pasti Perseroan dan Entitas
Anaknya ditentukan melalui perhitungan aktuaria secara periodik dengan menggunakan
metode projected-unit credit dan menerapkan asumsi atas tingkat diskonto, hasil atas aset
program dan tingkat kenaikan manfaat pasti pensiun tahunan.
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DAN ENTITAS ANAKNYA
p. Imbalan Kerja (lanjutan)
Manfaat imbalan pasti (lanjutan)
Pengukuran kembali, terdiri dari keuntungan dan kerugian aktuarial, perubahan dampak
batas atas aset (jika ada) dan dari imbal hasil atas aset program (tidak termasuk bunga),
yang tercermin langsung dalam laporan posisi keuangan konsolidasian yang dibebankan atau
dikreditkan ke penghasilan komprehensif lain periode terjadinya untuk mencerminkan nilai
penuh dari defisit dan surplus program. Pengukuran kembali diakui dalam penghasilan
komprehensif lain tercermin sebagai pos terpisah pada penghasilan komprehensif lain di
ekuitas dan tidak akan direklasifikasi ke laba rugi.
Seluruh biaya jasa lalu diakui pada saat yang lebih dulu antara ketika amendemen/kurtailmen
terjadi atau ketika biaya restrukturisasi atau pemutusan hubungan kerja diakui.
Bunga neto dihitung dengan menggunakan tingkat diskonto terhadap liabilitas atau aset
imbalan pasti neto. Biaya imbalan pasti dikategorikan sebagai berikut:
• Biaya jasa (termasuk biaya jasa kini, biaya jasa lalu serta keuntungan dan kerugian
kurtailmen dan penyelesaian)
• Beban atau pendapatan bunga neto
• Pengukuran kembali
Perseroan dan Entitas Anaknya menyajikan dua komponen pertama dari biaya imbalan pasti
di laba rugi, keuntungan dan kerugian kurtailmen dicatat sebagai biaya jasa lalu.
Kewajiban imbalan pensiun yang diakui pada laporan posisi keuangan konsolidasian
merupakan defisit atau surplus aktual dalam program imbalan pasti Perseroan dan Entitas
Anaknya. Surplus yang dihasilkan dari perhitungan ini terbatas pada nilai kini manfaat
ekonomis yang tersedia dalam bentuk pengembalian dana program dan pengurangan iuran
masa depan atas program.
Perubahan Kebijakan Akuntansi
Pada bulan April 2022, DSAK-IAI menerbitkan materi penjelasan melalui siaran pers atas
persyaratan pengatribusian imbalan pada periode jasa sesuai PSAK 24: Imbalan Kerja yang
diadopsi dari IAS 19 Employee Benefits. Materi penjelasan tersebut menyampaikan informasi
bahwa pola fakta umum dari program pensiun berbasis Undang-undang Ketenagakerjaan
yang berlaku di Indonesia saat ini memiliki pola fakta serupa dengan yang ditanggapi dan
disimpulkan dalam IFRS Interpretation Committee (“IFRIC”) Agenda Decision Attributing
Benefit to Periods of Service (IAS 19).
Perseroan telah menerapkan materi penjelasan tersebut dan dengan demikian mengubah
kebijakan akuntansi mengenai atribusi imbalan kerja pada periode jasa dari kebijakan yang
diterapkan sebelumnya, sehingga laporan keuangan konsolidasian Perseroan pada tanggal
31 Desember 2021 dan untuk tahun yang berakhir pada tanggal tersebut telah disajikan
kembali.
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DAN ENTITAS ANAKNYA
q. Pengakuan Pendapatan dan Beban
Pendapatan diukur berdasarkan imbalan yang Perseroan dan Entitas Anaknya perkirakan
menjadi haknya dalam kontrak dengan pelanggan dan tidak termasuk jumlah yang ditagih
atas nama pihak ketiga. Perseroan dan Entitas Anaknya mengakui pendapatan ketika
mengalihkan pengendalian barang atau jasa kepada pelanggan.
Penjualan barang
Pendapatan diakui bila besar kemungkinan manfaat ekonomi akan diperoleh Perseroan dan
Entitas Anaknya dan jumlahnya dapat diukur secara handal. Pendapatan diukur pada nilai
wajar pembayaran yang diterima, tidak termasuk diskon, rabat dan Pajak Pertambahan Nilai
(PPN).
Pendapatan dari penjualan diakui pada saat penyerahan barang kepada pelanggan dan
pendapatan dari penjualan ekspor diakui pada saat penyerahan barang dari gudang
pelabuhan ke kapal (FOB shipping point).
Beban
Beban diakui pada saat terjadinya (dasar akrual).
r. Pajak Penghasilan
Beban pajak terdiri dari pajak kini dan tangguhan. Beban pajak diakui dalam laporan laba rugi
komprehensif lain konsolidasian kecuali untuk transaksi yang berhubungan dengan transaksi
diakui di luar laba atau rugi, baik dalam penghasilan komprehensif lain atau langsung pada
ekuitas.
Pajak Kini
Beban pajak kini dihitung dengan menggunakan tarif pajak yang berlaku pada tanggal
pelaporan keuangan, dan ditetapkan berdasarkan taksiran laba kena pajak tahun berjalan.
Manajemen secara periodik mengevaluasi posisi yang dilaporkan di Surat Pemberitahuan
Tahunan (SPT) sehubungan dengan situasi di mana aturan pajak yang berlaku
membutuhkan interpretasi. Jika perlu, manajemen menentukan provisi berdasarkan jumlah
yang diharapkan akan dibayar kepada otoritas pajak.
Kekurangan atau kelebihan pembayaran pajak penghasilan badan dicatat sebagai bagian
dari beban pajak kini dalam laporan laba rugi dan penghasilan komprehensif lain
konsolidasian.
Koreksi terhadap liabilitas perpajakan diakui pada saat surat ketetapan pajak diterima. Jika
Perseroan mengajukan keberatan, Perseroan mempertimbangkan apakah besar
kemungkinan otoritas pajak akan menerima keberatan tersebut dan merefleksikan
dampaknya terhadap liabilitas perpajakan Perseroan.
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DAN ENTITAS ANAKNYA
r. Pajak Penghasilan
Pajak Tangguhan
Pajak tangguhan diukur dengan metode liabilitas atas beda waktu pada tanggal pelaporan
antara dasar pengenaan pajak untuk aset dan liabilitas dengan nilai tercatatnya untuk tujuan
pelaporan keuangan. Liabilitas pajak tangguhan diakui untuk semua perbedaan temporer
kena pajak dengan beberapa pengecualian. Aset pajak tangguhan diakui untuk perbedaan
temporer yang boleh dikurangkan dan rugi fiskal apabila terdapat kemungkinan besar bahwa
jumlah laba kena pajak pada masa mendatang akan memadai untuk mengkompensasi
perbedaan temporer dan rugi fiskal.
Jumlah tercatat aset pajak tangguhan dikaji ulang pada akhir periode pelaporan, dan
mengurangi jumlah tercatat jika kemungkinan besar laba kena pajak tidak lagi tersedia dalam
jumlah yang memadai untuk mengkompensasi sebagian atau seluruh aset pajak tangguhan.
Aset pajak tangguhan yang belum diakui dinilai kembali pada setiap akhir periode pelaporan
dan diakui sepanjang kemungkinan besar laba kena pajak mendatang akan memungkinkan
aset pajak tangguhan tersedia untuk dipulihkan.
Aset dan liabilitas pajak tangguhan dihitung berdasarkan tarif yang akan dikenakan pada
periode saat aset direalisasikan atau liabilitas tersebut diselesaikan, berdasarkan undang-
undang pajak yang berlaku atau berlaku secara substantif pada akhir periode laporan
keuangan. Pengaruh pajak terkait dengan penyisihan dan/atau pemulihan semua perbedaan
temporer selama tahun berjalan, termasuk pengaruh perubahan tarif pajak, dikreditkan atau
dibebankan pada periode operasi berjalan, untuk transaksi-transaksi yang sebelumnya telah
langsung dibebankan atau dikreditkan ke penghasilan komprehensif lain atau ekuitas
langsung.
Aset dan liabilitas pajak tangguhan disajikan secara saling hapus saat hak yang dapat
dipaksakan secara hukum ada untuk saling hapus aset pajak kini dan liabilitas pajak kini, atau
aset pajak tangguhan dan liabilitas pajak tangguhan berkaitan dengan entitas kena pajak
yang sama, atau Perseroan dan Entitas Anaknya bermaksud untuk menyelesaikan aset dan
liabilitas pajak kini dengan dasar neto.
s. Informasi Segmen
Segmen operasi diidentifikasi berdasarkan laporan internal mengenai komponen dari
Perseroan dan Entitas Anaknya yang secara reguler direvieu oleh “pengambil keputusan
operasional” dalam rangka mengalokasikan sumber daya dan menilai kinerja segmen
operasi.
Segmen operasi adalah suatu komponen dari entitas:
a. yang terlibat dalam aktivitas bisnis untuk memperoleh pendapatan dan menimbulkan
beban (termasuk pendapatan dan beban terkait dengan transaksi dengan komponen lain
dari entitas yang sama);
b. yang hasil operasinya dikaji ulang secara reguler oleh pengambil keputusan operasional
untuk membuat keputusan tentang sumber daya yang dialokasikan pada segmen
tersebut dan menilai kinerjanya; dan
c. dimana tersedia informasi keuangan yang dapat dipisahkan.
Informasi yang digunakan oleh pengambil keputusan operasional dalam rangka alokasi
sumber daya dan penilaian kinerja mereka terfokus pada kategori dari setiap produk.
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DAN ENTITAS ANAKNYA
s. Informasi Segmen (lanjutan)
Pendapatan, beban, hasil, aset dan liabilitas segmen termasuk hal-hal yang dapat
diatribusikan secara langsung kepada suatu segmen serta hal-hal yang dapat dialokasikan
dengan dasar yang memadai untuk segmen tersebut. Segmen ditentukan sebelum saldo dan
transaksi antar Perseroan dieliminasi sebagai bagian dari proses konsolidasi.
t. Laba Neto per Saham Dasar
Laba neto per saham dasar dihitung dengan membagi laba periode berjalan yang dapat
diatribusikan kepada pemilik entitas induk dengan rata-rata tertimbang jumlah saham biasa
yang beredar yaitu sebanyak 520.160.000 saham pada 2022 dan 2021.
3. PERTIMBANGAN KRITIS AKUNTANSI DAN SUMBER UTAMA KETIDAKPASTIAN ESTIMASI
Penyusunan laporan keuangan konsolidasian Perseroan dan Entitas Anaknya mengharuskan

manajemen untuk membuat pertimbangan, estimasi dan asumsi yang mempengaruhi jumlah
yang dilaporkan dari pendapatan, beban, aset dan liabilitas, dan pengungkapan atas liabilitas
kontinjensi, pada akhir periode pelaporan. Ketidakpastian mengenai asumsi dan estimasi
tersebut dapat mengakibatkan penyesuaian material terhadap nilai tercatat pada aset dan
liabilitas dalam periode pelaporan berikutnya.
a. Pertimbangan
Dalam proses penerapan kebijakan akuntansi Perseroan dan Entitas Anaknya, manajemen
telah membuat keputusan berikut, yang memiliki pengaruh paling signifikan terhadap jumlah
yang diakui dalam laporan keuangan konsolidasian:
Penilaian model bisnis
Klasifikasi dan pengukuran aset keuangan bergantung pada hasil ‘semata dari pembayaran
pokok dan bunga’ (”SPPI”) dan uji model bisnis. Perseroan dan Entitas Anaknya menentukan
model bisnis pada tingkat yang mencerminkan bagaimana kelompok aset keuangan dikelola
bersama untuk mencapai tujuan bisnis tertentu. Penilaian ini mencakup penilaian yang
mencerminkan semua bukti yang relevan termasuk bagaimana kinerja aset dievaluasi dan
kinerjanya diukur, risiko yang memengaruhi kinerja aset dan bagaimana hal ini dikelola dan
bagaimana manajer aset diberi kompensasi. Perseroan dan Entitas Anaknya memantau aset
keuangan yang diukur pada biaya perolehan diamortisasi atau nilai wajar melalui penghasilan
komprehensif lain yang dihentikan pengakuannya sebelum jatuh tempo untuk memahami
alasan pelepasannya dan apakah alasan tersebut konsisten dengan tujuan bisnis di mana
aset tersebut dimiliki. Pemantauan adalah bagian dari penilaian berkelanjutan Perseroan dan
Entitas Anaknya atas apakah model bisnis di mana aset keuangan yang tersisa dimiliki tetap
sesuai dan jika tidak sesuai apakah telah terjadi perubahan dalam model bisnis dan dengan
demikian terdapat perubahan prospektif terhadap klasifikasi aset keuangan tersebut.
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DAN ENTITAS ANAKNYA

a. Pertimbangan (lanjutan)
Penentuan Mata Uang Fungsional
Mata uang fungsional Perseroan dan Entitas Anaknya adalah mata uang dari lingkungan
ekonomi primer dimana entitas beroperasi. Mata uang tersebut adalah mata uang yang
mempengaruhi pendapatan dan beban dari jasa yang diberikan. Berdasarkan penilaian
manajemen Perseroan dan Entitas Anaknya mata uang fungsional Perseroan dan Entitas
Anaknya adalah Rupiah.
Menentukan masa sewa kontrak dengan opsi pembaruan dan penghentian - Perseroan
sebagai penyewa
Perseroan dan Entitas Anaknya menentukan bahwa masa sewa sebagai masa sewa yang
tidak dapat dibatalkan, bersamaan dengan periode yang tercakup dalam opsi perpanjangan
sewa, jika dieksekusi secara wajar dan pasti, atau periode yang tercakup dalam opsi
penghentian sewa, jika tidak dieksekusi secara wajar dan pasti.
Perseroan dan Entitas Anaknya menerapkan pertimbangan dalam mengevaluasi apakah
wajar dan pasti untuk mengeksekusi opsi untuk pembaruan atau penghentian sewa atau
tidak. Untuk kontrak sewa dengan opsi perpanjangan dan penghentian, manajemen perlu
mengestimasi masa sewa yang memerlukan pertimbangan semua fakta dan keadaan yang
menimbulkan insentif ekonomi untuk mengeksekusi opsi perpanjangan dan tidak
mengeksekusi opsi penghentian, termasuk setiap perubahan yang diharapkan dalam fakta
dan keadaan dari tanggal permulaan hingga tanggal pengeksekusian opsi tersebut. Opsi
perpanjangan (atau periode setelah opsi penghentian) hanya dimasukkan dalam persyaratan
sewa jika Perseroan cukup yakin untuk mengeksekusi opsi perpanjangan dan tidak
mengeksekusi opsi penghentian.
Jika terdapat peristiwa signifikan atau perubahan keadaan yang signifikan yang
mempengaruhi penilaian ini dan masih dalam kendali penyewa, maka penilaian di atas akan
ditelaah kembali.
b. Estimasi dan Asumsi
Asumsi utama masa depan dan sumber utama estimasi ketidakpastian lain pada tanggal
pelaporan yang memiliki risiko signifikan bagi penyesuaian yang material terhadap nilai
tercatat aset dan liabilitas untuk tahun berikutnya diungkapkan di bawah ini. Perseroan dan
Entitas Anaknya mendasarkan asumsi dan estimasi pada parameter yang tersedia pada saat
laporan keuangan konsolidasian disusun. Asumsi dan situasi mengenai perkembangan masa
depan mungkin berubah akibat perubahan pasar atau situasi di luar kendali Perseroan dan
Entitas Anaknya. Perubahan tersebut dicerminkan dalam asumsi terkait pada saat terjadinya.
Penurunan Nilai Piutang Usaha
Saat mengukur ECL, Perseroan dan Entitas Anaknya menggunakan informasi masa depan
yang wajar dan dapat didukung, yang didasarkan pada asumsi untuk pergerakan masa
depan dari berbagai pendorong ekonomi dan bagaimana penggerak ini akan saling
mempengaruhi.
Loss given default adalah estimasi kerugian yang timbul karena gagal bayar. Perhitungan
didasarkan pada perbedaan antara arus kas kontraktual terutang dan yang diharapkan akan
diterima, dengan mempertimbangkan arus kas dari agunan dan peningkatan kredit integral.
28
DAN ENTITAS ANAKNYA
b. Estimasi dan Asumsi (lanjutan)
Penurunan Nilai Piutang Usaha (lanjutan)
Probability of default merupakan input utama dalam mengukur ECL. Probability of default
adalah perkiraan kemungkinan gagal bayar selama jangka waktu tertentu, yang
penghitungannya mencakup data historis, asumsi, dan ekspektasi kondisi masa depan.
Informasi mengenai ECL pada piutang usaha Perseroan dan Entitas Anaknya diungkapkan
dalam Catatan 6.
Penyisihan Penurunan Nilai Pasar dan Keusangan Persediaan
Penyisihan penurunan nilai pasar dan keusangan persediaan diestimasi berdasarkan fakta
dan situasi yang tersedia, termasuk namun tidak terbatas kepada, kondisi fisik persediaan
yang dimiliki, harga jual pasar, estimasi biaya penyelesaian dan estimasi biaya yang timbul
untuk penjualan. Provisi dievaluasi kembali dan disesuaikan jika terdapat tambahan informasi
yang mempengaruhi jumlah yang diestimasi. Nilai tercatat persediaan Perseroan sebelum
penyisihan atas keusangan dan penurunan nilai pasar pada tanggal 31 Desember 2022 dan
2021, dijelaskan lebih rinci dalam Catatan 7.
Penyusutan Aset Tetap
Biaya perolehan aset tetap disusutkan dengan menggunakan metode garis lurus dan saldo
menurun ganda berdasarkan taksiran manfaat masa ekonomisnya.
Manajemen mengestimasi tingkat depresiasi aset tetap antara 5% sampai dengan 50%.
Masa manfaat ekonomis tersebut merupakan masa manfaat ekonomis yang secara umum
diharapkan dalam industri di mana Perseroan dan Entitas Anaknya menjalankan bisnisnya.
Perubahan tingkat pemakaian dan perkembangan teknologi dapat mempengaruhi masa
manfaat ekonomis dan nilai sisa aset, dan karenanya beban penyusutan masa depan
mungkin direvisi. Nilai tercatat aset tetap pada tanggal 31 Desember 2022 dan 2021
diungkapkan dalam Catatan 8.
Imbalan Kerja
Penentuan liabilitas dan biaya imbalan kerja Perseroan bergantung pada pemilihan asumsi
yang digunakan oleh aktuaris independen dalam menghitung jumlah-jumlah tersebut. Asumsi
tersebut termasuk antara lain, tingkat diskonto, tingkat kenaikan gaji tahunan, tingkat
pengunduran diri karyawan tahunan, tingkat kecacatan, umur pensiun dan tingkat kematian.
Hasil aktual yang berbeda dari asumsi yang ditetapkan Perseroan langsung diakui dalam
laba atau rugi pada saat terjadinya. Sementara Perseroan berkeyakinan bahwa asumsi
tersebut adalah wajar dan sesuai, perbedaan signifikan pada hasil aktual atau perubahan
signifikan dalam asumsi yang ditetapkan Perseroan dapat mempengaruhi secara material
liabilitas diestimasi atas imbalan kerja dan beban imbalan kerja neto. Nilai tercatat dari
Imbalan diestimasi atas kesejahteraan karyawan pada tanggal 31 Desember 2022 dan 2021
dijelaskan lebih rinci dalam Catatan 23.
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DAN ENTITAS ANAKNYA

(lanjutan)
b. Estimasi dan Asumsi (lanjutan)
Pajak Penghasilan
Pertimbangan signifikan dilakukan dalam menentukan liabilitas atas pajak penghasilan
badan. Terdapat transaksi dan perhitungan tertentu yang penentuan pajak akhirnya adalah
tidak pasti sepanjang kegiatan usaha normal. Perseroan dan Entitas Anaknya mengakui
liabilitas atas pajak penghasilan badan berdasarkan estimasi apakah akan terdapat
tambahan pajak penghasilan badan.
Aset Pajak Tangguhan
Aset pajak tangguhan diakui atas seluruh perbedaan temporer yang dapat dikurangkan,
sepanjang besar kemungkinannya bahwa penghasilan kena pajak akan tersedia sehingga
perbedaan temporer tersebut dapat digunakan. Estimasi signifikan oleh manajemen
disyaratkan dalam menentukan total aset pajak tangguhan yang dapat diakui, berdasarkan
saat penggunaan dan tingkat penghasilan kena pajak serta strategi perencanaan pajak masa
depan. Pada tanggal 31 Desember 2022 dan 2021.
Estimasi IBR untuk Sewa
Perseroan dan Entitas Anaknya tidak dapat langsung menentukan tingkat bunga implisit
dalam sewa, oleh karena itu, Perseroan menggunakan suku bunga pinjaman inkremental
(IBR) untuk mengukur kewajiban sewa. IBR adalah tingkat bunga yang harus dibayar
Perseroan dan Entitas Anaknya untuk meminjam dalam jangka waktu yang sama, dan
dengan jaminan serupa, dana yang diperlukan untuk memperoleh aset dengan nilai yang
sama dengan aset hak guna dalam lingkungan ekonomi yang sama. Oleh karena itu, IBR
mencerminkan apa yang 'harus dibayar' oleh Perseroan dan Entitas Anaknya, yang
memerlukan perkiraan ketika tidak ada tarif yang tersedia sebagai acuan atau ketika perlu
disesuaikan untuk mencerminkan syarat dan ketentuan sewa. Perseroan dan Entitas
Anaknya memperkirakan IBR menggunakan input yang dapat diamati (seperti suku bunga
pasar).
30
DAN ENTITAS ANAKNYA
4. KAS DAN SETARA KAS
2022 2021
Kas
Rupiah 371.227.483 914.627.643
Bank
Pihak ketiga
Rupiah
PT Bank Central Asia Tbk 5.501.818.859 6.557.299.172
PT Bank Maybank Indonesia Tbk 2.771.322.647 2.714.686.012
PT Bank Mandiri (Persero) Tbk 2.653.689.577 24.259.467.163
PT Bank HSBC Indonesia 2.618.256.567 470.031.574
PT Bank Negara Indonesia (Persero) Tbk 650.452.500 198.905.847
PT Bank Permata Tbk 195.118.642 197.504.370
PT Bank Rakyat Indonesia (Persero) Tbk 185.075.892 133.379.098
PT Bank Mega Tbk 177.560.126 175.695.954
PT Bank Panin Indonesia Tbk 141.880.739 95.552.693
PT Bank CIMB Niaga Tbk 62.319.726 718.457.113
PT Bank Syariah Indonesia Tbk 61.257.706 638.663.524
PT Bank UOB Indonesia 39.942.515 37.343.016
PT Bank Danamon Indonesia Tbk 39.753.099 37.350.007
PT Bank Tabungan Negara (Persero) Tbk 38.136.619 67.792.465
PT Bank Nationalnobu Tbk 32.472.151 29.710.272
Dolar AS
PT Bank ICBC Indonesia 229.789.009 53.346.226
PT Bank Central Asia Tbk 155.058.107 2.751.368.129
PT Bank HSBC Indonesia 97.571.842 176.358.276
Sub total 15.651.476.323 39.312.910.911
Setara kas
Pihak ketiga
Deposito jangka pendek
Rupiah
PT Bank Panin Indonesia Tbk 13.634.070.874 16.873.934.179
PT Bank HSBC Indonesia 5.759.757.780 -
PT Bank ICBC Indonesia 2.823.752.912 5.496.857.720
PT Bank Mega Tbk 2.231.484.419
Dolar AS
PT Bank ICBC Indonesia 9.067.115.561 17.190.429.231
PT Bank Mega Tbk - 17.378.630.308
PT Bank HSBC Indonesia - -
Sub total 31.284.697.127 59.171.335.857
Total 47.307.400.933 99.398.874.411
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DAN ENTITAS ANAKNYA
4. KAS DAN SETARA KAS (lanjutan)
Tingkat suku bunga kontraktual deposito bank jangka pendek adalah sebagai berikut:
2022 2021
Rupiah 2,75%-4,25% 2,50%-4,75%

Dolar Amerika Serikat 0,40%-2,25% 0,50%-1,50%
Jangka waktu penempatan deposito Perseroan berkisar antara 1 bulan, 1 sampai 3 bulan dan
perpanjangan otomatis jika tidak ada informasi penarikan dari Perseroan.
5. DEPOSITO BERJANGKA
2022 2021
Rupiah
PT Bank HSBC Indonesia 2.280.237.091 5.637.527.566
Dolar AS
PT Bank ICBC Indonesia 1.854.701.901 -
Sub total 48.084.719.917 37.493.496.823
Deposito berjangka yang dibatasi

penggunaannya
Total 83.084.719.917 76.493.496.823
Tingkat suku bunga kontraktual deposito berjangka adalah sebagai berikut:
2022 2021
Rupiah 2,25%-2,5% 2,50%-3,25%
Jangka waktu penempatan deposito Perseroan berkisar antara 6 sampai 12 bulan dan
perpanjangan otomatis jika tidak ada informasi penarikan dari Perseroan.
Deposito berjangka yang dibatasi penggunaannya PT Bank Mandiri (Persero) Tbk digunakan
sebagai jaminan atas transaksi usaha Perseroan dengan pihak ketiga. Deposito pada
PT Bank Mandiri (Persero) Tbk masing - masing sebesar Rp 35.000.000.000 dan
Rp 39.000.000.000 pada tanggal 31 Desember 2022 dan 2021 digunakan sebagai jaminan untuk
pinjaman PT Singa Purwakarta Jaya, entitas anak sebesarRp 35.000.000.000 (Catatan 14).
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DAN ENTITAS ANAKNYA
6. PIUTANG USAHA
Piutang usaha terdiri dari jumlah piutang dari pelanggan yang diklasifikasikan sebagai berikut:
2022 2021
Pihak ketiga
Kontraktor dan pemilik proyek 140.046.536.732 108.606.924.882
Distributor 9.836.518.157 12.597.615.006
Piutang transport 780.296.106 804.454.872
Total 150.663.350.995 122.008.994.760
Penyisihan atas ECLs (32.383.245.645 ) (12.215.587.232 )
Piutang usaha-Pihak ketiga - Neto 118.280.105.350 109.793.407.528
Pihak berelasi (Catatan 26)

Piutang usaha 25.065.437.050 32.605.050.042
Penyisihan atas ECLs (2.340.779.734 ) (2.513.656.619 )
Piutang usaha-Pihak berelasi - Neto 22.724.657.316 30.091.393.423
Piutang usaha - Neto 141.004.762.666 139.884.800.951
Pada tanggal 31 Desember 2022 dan 2021, seluruh nilai tercatat piutang usaha dalam mata uang
Rupiah.
Cadangan kerugian kredit untuk piutang usaha telah diukur sejumlah ECL sepanjang umur. ECL
pada piutang usaha diestimasi berdasarkan matriks provisi dengan mengacu pada pengalaman
gagal bayar debitur di masa lalu dan analisis posisi keuangan debitur saat ini, disesuaikan
dengan faktor-faktor yang spesifik dari debitur dan kondisi ekonomi umum industri dimana debitur
beroperasi.
Tidak ada perubahan dalam teknik estimasi atau asumsi signifikan yang dibuat selama periode
pelaporan berjalan.
Cadangan ECL untuk piutang usaha berdasarkan matriks provisi

2022
Jatuh tempo
Belum jatuh 31 – 60 61 – 90 > 90

tempo < 30 hari hari hari hari Jumlah
Pihak ketiga
Tingkat kerugian kredit ekspektasian 4,48% 17,54% 36,03% 65,55% 100,00%
Estimasi jumlah tercatat bruto
pada saat gagal bayar 92.626.952.009 26.109.120.564 11.005.804.842 3.579.128.301 17.342.345.279 150.663.350.995
ECL sepanjang umur (4.151.391.522 ) (4.578.314.901 ) (3.965.013.249 ) (2.346.180.694 ) (17.342.345.279 ) (32.383.245.645 )
Jumlah 118.280.105.350
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DAN ENTITAS ANAKNYA
6. PIUTANG USAHA (lanjutan)
Cadangan ECL untuk piutang usaha berdasarkan matriks provisi (lanjutan)

2021
Jatuh tempo
Belum jatuh 31 – 60 61 – 90 > 90

Pihak ketiga
pada saat gagal bayar 95.649.033.992 15.394.416.137 4.324.577.212 2.643.685.976 3.997.281.443 122.008.994.760
ECL sepanjang umur (3.608.061.783 ) (2.001.644.895 ) (1.212.576.771 ) (1.396.022.340 ) (3.997.281.443 ) (12.215.587.232)
Jumlah 109.793.407.528
2022
Jatuh tempo
Belum jatuh 31 – 60 61 – 90 > 90

pada saat gagal bayar 21.053.228.115 1.998.145.558 780.638.513 675.223.491 558.201.373 25.065.437.050
ECL sepanjang umur (891.365.152 ) (374.909.494 ) (220.558.055 ) (361.563.583 ) (492.383.450 ) (2.340.779.734 )
Jumlah 22.724.657.316
2021
Jatuh tempo
Belum jatuh 31 – 60 61 – 90 > 90

Tingkat kerugian kredit ekspektasian 4,59% 22,00% 32,33% 67,24% 100%
pada saat gagal bayar 29.029.546.104 1.726.801.396 1.269.193.200 579.017.102 492.240 32.605.050.042
ECL sepanjang umur (1.333.751.275 ) (379.813.326 ) (410.282.558 ) (389.317.220 ) (492.240 ) (2.513.656.619 )
Jumlah 30.091.393.423
Mutasi penyisihan atas ECLs piutang usaha adalah sebagai berikut:
2022 2021
Pihak ketiga
Saldo Awal 12.215.587.232 18.083.172.297
Provisi selama tahun berjalan (Catatan 21) 20.167.658.413 -
Pemulihan penyisihan tahun berjalan (Catatan 22) - (5.867.585.065 )
Saldo Akhir 32.383.245.645 12.215.587.232
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DAN ENTITAS ANAKNYA
6. PIUTANG USAHA (lanjutan)
Mutasi penyisihan atas ECLs piutang usaha adalah sebagai berikut: (lanjutan)
2022 2021
Pihak berelasi
Saldo Awal 2.513.656.619 1.843.258.164
Provisi (pemulihan) selama tahun berjalan
(Catatan 21) (172.876.885 ) 670.398.455
Saldo Akhir 2.340.779.734 2.513.656.619
Berdasarkan hasil penelaahan terhadap akun piutang masing-masing pelanggan pada akhir
tahun, manajemen berkeyakinan bahwa penyisihan penurunan nilai cukup untuk menutup
kerugian atas tidak tertagihnya piutang.
7. PERSEDIAAN
2022 2021
Bahan baku 57.805.863.271 50.706.400.611

Barang jadi 132.496.572.340 99.818.194.579
Barang dalam proses 36.153.435.045 36.082.790.069
Suku cadang 7.054.928.583 6.473.467.974
Total 233.510.799.239 193.080.853.233
Penyisihan persediaan usang (532.443.070 ) (532.443.070 )

Total - neto 232.978.356.169 192.548.410.163
Persediaan telah diasuransikan terhadap risiko kebakaran dan risiko tertentu lainnya dengan
jumlah pertanggungan masing-masing sebesar Rp 169.500.000.000 dan Rp 173.250.000.000
pada tanggal 31 Desember 2022 dan 2021. Manajemen berpendapat bahwa jumlah tersebut
cukup untuk menutup kerugian karena risiko kebakaran atau risiko tertentu lainnya.
Berdasarkan penelaahan terhadap kondisi persediaan di akhir tahun, manajemen berkeyakinan

bahwa persediaan dapat direalisasi pada nilai tercatatnya dan penyisihan persediaan usang yang
dibentuk cukup.
35
DAN ENTITAS ANAKNYA
8. ASET TETAP
2022
Keterangan Saldo awal Penambahan Pengurangan Reklasifikasi Saldo akhir
Biaya Perolehan
Tanah 5.259.002.500 - - - 5.259.002.500
Bangunan dan prasarana 87.028.055.846 - - - 87.028.055.846
Instalasi listrik 631.462.000 - - - 631.462.000
Mesin dan peralatan 82.406.086.039 4.255.512.500 - - 86.661.598.539
Kendaraan bermotor 15.978.877.128 - 131.700.000 - 15.847.177.128
Peralatan pabrik dan
Kantor 23.142.403.244 9.665.000 - - 23.152.068.244
Jalan dan sarana
pendukung 11.761.476.807 13.030.000 - - 11.774.506.807
Total 226.207.363.564 4.278.207.500 131.700.000 - 230.353.871.064
Akumulasi penyusutan
Bangunan dan prasarana 34.358.229.366 2.735.620.853 - - 37.093.850.219
Instalasi listrik 259.676.777 31.573.104 - - 291.249.881
Mesin dan peralatan 67.015.316.418 3.933.524.024 - - 70.948.840.442
Kendaraan bermotor 15.852.494.823 130.658.014 131.700.000 - 15.851.452.837
kantor 20.544.518.395 582.026.098 - - 21.126.544.493
Jalan dan sarana
pendukung 599.933.818 588.687.711 - - 1.188.621.529
Total 138.630.169.597 8.002.089.804 131.700.000 - 146.500.559.401
Nilai Buku Neto 87.577.193.967 83.853.311.663
2021
Keterangan Saldo awal Penambahan Pengurangan Reklasifikasi Saldo akhir
Biaya Perolehan
Tanah 5.259.002.500 - - - 5.259.002.500
Instalasi listrik 631.462.000 - - - 631.462.000
Mesin dan peralatan 82.406.086.039 - - - 82.406.086.039
Kendaraan bermotor 16.208.675.128 - 229.798.000 - 15.978.877.128
Kantor 23.139.704.944 2.698.300 - - 23.142.403.244
Jalan dan sarana
pendukung 11.761.476.807 - - - 11.761.476.807
Total 220.928.099.628 5.509.061.936 229.798.000 - 226.207.363.564
Akumulasi penyusutan
Instalasi listrik 228.103.677 31.573.100 - - 259.676.777
Mesin dan peralatan 62.878.078.503 4.367.035.915 229.798.000 - 67.015.316.418
Kendaraan bermotor 15.627.457.099 225.037.724 15.852.494.823
Kantor 19.798.229.668 746.288.727 - - 20.544.518.395
Jalan dan sarana
pendukung 11.859.977 588.073.841 - - 599.933.818
Total 129.827.702.500 9.032.265.097 229.798.000 - 138.630.169.597
Nilai Buku Neto 91.100.397.128 87.577.193.967
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DAN ENTITAS ANAKNYA
8. ASET TETAP (lanjutan)
Rincian penjualan aset tetap pada tahun 2022 dan 2021 adalah sebagai berikut:
2022 2021
Harga jual 69.050.000 146.450.000

Nilai buku - -
Laba penjualan aset tetap (Catatan 23) 69.050.000 146.450.000
Penyusutan dibebankan dan dialokasikan sebagai berikut:
2022 2021
Beban pabrikasi 4.590.496.534 5.284.339.101

Beban usaha (Catatan 21):
Umum dan administrasi 3.347.082.717 3.636.498.402
Penjualan 64.510.553 111.427.594
Total beban penyusutan 8.002.089.804 9.032.265.097
Aset tetap, kecuali tanah telah diasuransikan terhadap risiko kebakaran dan risiko tertentu lainnya
dengan jumlah pertanggungan sebesar Rp 18.300.000.000 dan A$ 6.080.000 pada tanggal
31 Desember 2022 dan 2021, dan manajemen berpendapat bahwa jumlah tersebut cukup untuk
menutup kemungkinan kerugian karena risiko kebakaran dan risiko tertentu lainnya.
Hak Guna Bangunan (HGB) pabrik yang di Jakarta akan berakhir pada tahun 2027. Manajemen
berkeyakinan bahwa kepemilikan hak atas tanah dapat diperpanjang pada saat jatuh tempo.
Tidak terdapat aset yang sudah didepresiasi penuh namun masih digunakan dalam operasi
Perseroan dan Entitas Anaknya.
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DAN ENTITAS ANAKNYA
9. SEWA
Perseroan memiliki kontrak sewa untuk bangunan yang digunakan dalam operasi Perseroan.
Sewa bangunan memiliki masa sewa 5 (lima) tahun.
2022
Saldo Awal Penambahan Pengurangan Reklasifikasi Saldo Akhir
Biaya Perolehan
Bangunan 1.979.743.418 3.268.780.926 (1.979.743.418 ) - 3.268.780.926
Akumulasi Penyusutan
Bangunan 1.583.794.733 613.867.414 (1.979.743.418 ) - 217.918.729
Nilai Buku Neto 395.948.685 3.050.862.197
2021
Saldo Awal Penambahan Pengurangan Reklasifikasi Saldo Akhir
Biaya Perolehan
Bangunan 1.979.743.418 - - - 1.979.743.418
Akumulasi Penyusutan
Bangunan 791.897.367 791.897.366 - - 1.583.794.733
Nilai Buku Neto 1.187.846.051 395.948.685
Di bawah ini adalah jumlah tercatat liabilitas sewa dan mutasinya selama periode berjalan:
2022 2021
Pada 1 Januari - 846.423.382
Penambahan 3.268.780.926 -
Penambahan bunga 43.479.921 6.576.618
Pembayaran
Pokok (676.520.079 ) (846.423.382 )
Bunga (43.479.921 ) (6.576.618 )
Pada 31 Desember 2.592.260.847 -
Lancar 602.735.117 -
Jangka panjang 1.989.525.730 -
Berikut ini adalah jumlah yang diakui dalam laba rugi:
2021 2021
Beban penyusutan aset hak guna (Catatan 21) 613.867.414 791.897.366
Jumlah yang diakui dalam laba rugi 613.867.414 791.897.366
Perseroan dan Entitas Anaknya memiliki total arus kas keluar untuk sewa sebesar
Rp 720.000.000 pada 2022 dan Rp 853.000.000 pada 2021. Perseroan dan Entitas Anaknya juga
memiliki penambahan non-kas pada aset hak-guna dan liabilitas sewa sebesar Rp 3.268.780.926
pada 2022.
38
DAN ENTITAS ANAKNYA
10. PROPERTI INVESTASI

2022
Keterangan Saldo awal Penambahan Pengurangan Saldo akhir

Biaya Perolehan
Tanah 59.517.253.319 - - 59.517.253.319
2021
Keterangan Saldo awal Penambahan Pengurangan Saldo akhir

Biaya Perolehan
Tanah 59.517.253.319 - - 59.517.253.319
Properti investasi tanah ini milik Entitas Anak yang berlokasi di purwakarta dengan luas kurang
lebih 900.833m2 pada tahun 2022 dan 2021 dengan sertifikat Hak Guna Bangunan (HGB) yang
akan berakhir antara tahun 2028, 2030 sampai dengan 2048.
Manajemen berkeyakinan bahwa tidak terdapat penurunan nilai pada properti investasi pada
tanggal 31 Desember 2022 dan 2021.
Total nilai Jual Objek Pajak untuk tanah yang dimiliki tersebut sebesar Rp 197.695.037.000 pada
tahun 2022 dan Rp 183.239.863.000 pada tahun 2021.
11. UTANG USAHA - PIHAK KETIGA
2022 2021
PT Krakatau Steel (Persero) Tbk 9.357.912.360 -
PT Indo Multi jaya Steel 6.125.461.099 -
PT AM/NS Indonesia 1.709.955.000 -
PT Bumi Agung Perkasa Indah 1.042.593.421 -
PT Mitra Angkasa Sejahtera 992.040.394 738.951.269
PT Sinar Sukses Sejahtera 883.282.500 -
PT San Central Indah 631.035.860 -
PT Hanwa Indonesia 551.475.832 -
PT Jotun Indonesia 342.732.480 -
PT Praja Billionmas Lestari - 3.663.500.500
PT Tata Kreasi Sejahtera - 2.204.296.752
PT Nord Driversystems Indonesia - 1.304.597.700
PT Putra Setia Sukses Bersama - 1.046.420.466
PT San Sentral Indah - 828.794.800
PT Djaja Harapan - 640.916.420
PT Indo Multi Jaya Steel - 580.757.815
PT Bina Adidaya - 499.886.830
PT Andika Jana Bumi Sejahtera - 239.872.058
PT Sarana Steel - 202.906.884
Lain-lain (masing-masing -
di bawah Rp 300.000.000) 1.966.911.714 4.946.407.891
Total 23.603.400.660 16.897.309.385
Semua utang usaha dilakukan dalam mata uang rupiah.
39
DAN ENTITAS ANAKNYA
12. PERPAJAKAN
a. Utang pajak terdiri dari:
2022 2021
Perseroan
Pajak Penghasilan:
Pasal 4 ayat 2 32.652.846 36.515.481
Pasal 21 1.534.634.776 668.858.574
Pasal 23 26.873.140 8.038.033
Pasal 25 304.794.325 -
Pasal 29 5.869.321.441 2.375.400.253
Pajak Pertambahan Nilai 2.433.790.214 2.557.903.728
Total 10.202.066.742 5.646.716.069
b. Rekonsiliasi antara Laba (rugi) sebelum pajak penghasilan, sesuai dengan laporan laba rugi
dan penghasilan komprehensif lain konsolidasian, dan taksiran penghasilan kena pajak
Perseroan untuk tahun yang berakhir pada tanggal 31 Desember 2022 dan 2021 adalah
sebagai berikut:
2022 2021
Laba (rugi) sebelum pajak penghasilan sesuai
dengan laporan laba rugi dan penghasilan
komprehensif lain konsolidasian 7.494.043.687 (1.376.214.765 )
Rugi entitas anak PT Singa Purwakarta Jaya 2.084.187.998 2.487.334.984
Laba sebelum pajak penghasilan Perseroan 9.578.231.685 1.111.120.219
Beda temporer:
Imbalan kerja 12.645.084.771 12.540.844.203
Pembayaran kesejahteraan karyawan (7.218.434.860 ) (4.691.927.175 )
Penyusutan aset tetap (3.579.948.988 ) (1.183.897.710 )
Sewa 417.347.333 (54.526.015 )
Penyisihan (pembalikan) atas ECLs 19.994.781.528 (5.197.186.610 )
Beda tetap:
Biaya yang tidak dapat dikurangkan:
Kesejahteraan karyawan 18.176.633.147 14.903.068.501
Beban pajak 3.311.967.681 3.931.049.323
Perbaikan dan pemeliharaan 3.154.078.221 3.065.205.198
Representasi dan sumbangan 808.182.238 928.677.773
Lain-lain 828.471.707 1.124.922.049
Penghasilan yang telah dikenakan
pajak final
Penjualan - neto * (9.661.272.762 ) (6.786.905.912 )
Penghasilan bunga (2.258.086.807 ) (2.671.098.639 )
Penghasilan sewa (394.200.000 ) (394.200.000 )
Taksiran penghasilan kena pajak
Perseroan 45.802.834.894 16.625.145.205
Taksiran penghasilan kena pajak
Perseroan - pembulatan 45.802.834.000 16.625.145.000
* Merupakan penghasilan neto setelah dikurangi beban dari penjualan bahan penunjang/bangunan
konstruksi yang dipotong pajak penghasilan final oleh pelanggan.
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DAN ENTITAS ANAKNYA
12. PERPAJAKAN (lanjutan)
b. Rekonsiliasi antara rugi sebelum pajak penghasilan, sesuai dengan laporan laba rugi dan
penghasilan komprehensif lain konsolidasian, dan taksiran penghasilan kena pajak Perseroan
untuk tahun yang berakhir pada tanggal 31 Desember 2022 dan 2021 adalah sebagai berikut:
(lanjutan)
Beban pajak penghasilan Perseroan adalah sebagai berikut:
2022 2021
Beban pajak kini (22% di 2022 dan 2021) 10.076.623.480 3.657.531.900
Pajak penghasilan dibayar di muka

Perseroan
Pasal 22 1.125.674.093 683.090.132
Pasal 23 338.479.021 95.414.271
Pasal 25 2.743.148.925 503.627.244
Total pembayaran pajak penghasilan
dibayar di muka 4.207.302.039 1.282.131.647
Pajak penghasilan badan kurang bayar 5.869.321.441 2.375.400.253
Rincian beban pajak penghasilan adalah sebagai berikut:
2022 2021
Beban pajak kini
Beban pajak untuk tahun berjalan perseroan (10.076.623.480 ) (3.657.531.900 )
Beban pajak tangguhan

Perseroan
Pajak tangguhan yang timbul dari pengakuan
dan pembalikan beda temporer 4.896.942.552 310.927.473
Penyesuaian pajak tangguhan akibat
perubahan tarif dan undang-undnag pajak - (4.014.870.463 )
Total beban pajak penghasilan (5.179.680.928 ) (7.361.474.890 )
Sampai dengan tanggal laporan keuangan diterbitkan, Perseroan dan Entitas Anaknya belum
menyampaikan Surat Pemberitahuan Tahunan (SPT) Pajak Penghasilan tahun 2022 ke
Kantor Pelayanan Pajak. Perhitungan taksiran penghasilan kena pajak Perseroan dan
taksiran rugi fiskal Entitas anak pada tahun 2021 sesuai dengan jumlah yang dilaporkan
dalam masing-masing SPT Perseroan dan Entitas Anaknya.
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DAN ENTITAS ANAKNYA
c. Laba usaha konstruksi dari penjualan bahan penunjang/bangunan konstruksi Perseroan

adalah sebagai berikut:
2022 2021
Penjualan konstruksi 39.245.370.595 53.507.217.045
Harga pokok penjualan konstruksi (19.709.025.113 ) (27.021.144.608 )
Laba bruto 19.536.345.482 26.486.072.437
Beban usaha konstruksi (9.875.072.720 ) (19.699.166.525 )
Laba usaha konstruksi 9.661.272.762 6.786.905.912
Harga pokok konstruksi ditentukan dari penjualan konstruksi sebesar 50,2% untuk tahun
2022 dan 50,5% untuk tahun 2021. Beban usaha konstruksi dialokasikan dari beban usaha
periode berjalan dengan dasar alokasi berupa perbandingan penjualan konstruksi terhadap
total penjualan periode berjalan masing masing sebesar 10% pada tahun 2022 dan 18%
untuk tahun 2021.
d. Pajak penghasilan yang diakui dalam penghasilan komprehensif lain:
2022 2021
Pajak tangguhan
Dari penghasilan dan beban yang
diakui dalam penghasilan komprehensif lain:
Keuntungan atau kerugian aktuarial
atas kewajiban imbalan pasti (1.883.439.734 ) (1.134.918.324 )
Penyesuaian pajak tangguhan akibat
perubahan tarif dan undang-undang pajak - 578.209.622
Total (1.883.439.734 ) (556.708.702 )
e. Manfaat (beban) pajak penghasilan - tangguhan

2022
Dikreditkan/ Dampak perubahan tarif pajak
(dibebankan) (dibebankan) Dikreditkan Dikreditkan
ke laporan ke penghasilan (dibebankan) ke penghasilan
Saldo awal laba rugi komprehensif lain ke laba rugi komprehensif lain Saldo akhir
Penyisihan atas ECLs 3.240.433.647 4.398.851.935 - - - 7.639.285.582

Liabilitas diestimasi atas
kesejahteraan karyawan 18.918.151.760 1.193.862.980 (1.883.439.734) - - 18.228.575.006
Penyusutan aset tetap 3.080.036.592 (787.588.777 ) - - - 2.292.447.815
Sewa (87.108.710 ) 91.816.414 - - - 4.707.704
Penyisihan persediaan
usang 117.137.476 - - - - 117.137.476
31 Desember 2022 25.268.650.765 4.896.942.552 (1.883.439.734) - - 28.282.153.583
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DAN ENTITAS ANAKNYA
e. Manfaat (beban) pajak penghasilan - tangguhan (lanjutan)

2021 (Disajikan Kemablai Catatan 32)
Dikreditkan/ Dampak perubahan tarif pajak
(dibebankan) (dibebankan) Dikreditkan Dikreditkan
ke laporan ke penghasilan (dibebankan) ke penghasilan
Saldo awal laba rugi komprehensif lain ke laba rugi komprehensif lain Saldo akhir
Penyisihan atas ECLs 3.985.286.092 (1.143.381.054 ) - 398.528.609 - 3.240.433.647

Liabilitas diestimasi atas
kesejahteraan karyawan 22.442.376.524 1.726.761.746 (1.134.918.324 ) (4.694.277.808 ) 578.209.622 18.918.151.760
Penyusutan aset tetap 3.036.813.607 (260.457.496 ) - 303.680.481 - 3.080.036.592
Sewa (68.284.534 ) (11.995.723 ) - (6.828.453 ) - (87.108.710 )
Penyisihan persediaan
usang 133.110.768 - - (15.973.292 ) - 117.137.476
31 Desember 2021 29.529.302.457 310.927.473 (1.134.918.324 ) (4.014.870.463 ) 578.209.622 25.268.650.765
f. Rekonsiliasi antara beban pajak penghasilan yang dihitung dengan menggunakan tarif pajak
yang berlaku sebesar 22% dari laba sebelum pajak penghasilan pada tahun 2022 dan 2021,
dan beban pajak penghasilan - neto seperti yang tercantum dalam laporan laba rugi dan
penghasilan komprehensif lain konsolidasian untuk tahun yang berakhir pada tanggal
31 Desember 2022 dan 2021 adalah sebagai berikut:
2022 2021
Laba (Rugi) sebelum pajak penghasilan

sesuai dengan laporan laba rugi
dan penghasilan komprehensif lain
Perseroan 9.578.231.685 1.111.120.219
Pajak dihitung dengan tarif yang berlaku

(22% pada 2022 dan 2021) 2.107.210.971 244.446.449
Dampak pajak penghasilan pada:
Kesejahteraan karyawan 3.998.859.292 3.278.675.070
Perbaikan dan pemeliharaan 693.897.209 674.345.144
Beban pajak 728.632.890 864.830.851
Lain-lain 182.263.579 247.482.803
Pendapatan yang telah dikenakan pajak
final (2.708.983.105 ) (2.167.485.001 )
Dampak perubahan tarif pajak - 4.014.870.464
Beban pajak penghasilan - neto sesuai
dengan laporan laba rugi komprehensif
Perseroan 5.179.680.928 7.361.474.890
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DAN ENTITAS ANAKNYA
f. Perubahan Tarif Pajak Badan

Pada tanggal 31 Maret 2020, sebagai bagian dari stimulus ekonomi untuk perlindungan
dampak Covid-19, pemerintah Republik Indonesia mengumumkan Peraturan Pemerintah
Pengganti Undang-undang (Perpu) No. 1 Tahun 2020 yang kemudian menjadi Undang-
Undang (UU) No. 2 Tahun 2020 pada 18 Mei 2020 Tentang Kebijakan Keuangan Negara dan
Stabilitas Sistem Keuangan untuk Penanganan Pandemi Corona Virus Disease 2019 (Covid-
19) dan/atau Dalam Rangka Menghadapi Ancaman Yang Membahayakan Perekonomian
Nasional dan/atau Stabilitas Sistem Keuangan.
UU No. 2 Tahun 2020 mengatur, antara lain, penurunan tarif pajak badan sebagai berikut:
• Untuk tahun pajak 2020 dan 2021: dari 25% menjadi 22%;
• Mulai tahun pajak 2022: dari 22% menjadi 20%;
• Perusahaan Terbuka dalam negeri yang memenuhi kriteria tambahan tertentu dapat
memperoleh tarif pajak sebesar 3% lebih rendah dari tarif pajak yang disebutkan di atas.
Pada tanggal 29 Oktober 2021, Pemerintah Indonesia mengesahkan Undang-Undang No. 7

Tahun 2021 (UU No.7/2021) tentang “Harmonisasi Peraturan Perpajakan” yang menetapkan,
antara lain, penurunan tarif pajak penghasilan wajib pajak badan dalam negeri dan bentuk
usaha tetap dari semula 25% menjadi 22% untuk tahun pajak 2022 dan seterusnya, serta
bagi Perusahaan Terbuka dalam negeri yang memenuhi kriteria tertentu dapat memperoleh
tarif pajak sebesar 3% lebih rendah dari tarif pajak yang disebutkan di atas: dan kenaikan tarif
pajak pertambahan nilai dari semula 10% menjadi 11% yang akan berlaku mulai dari1 April
2022, dan akan menjadi 12% yang akan berlaku paling lambat 1 Januari 2025.
13. UANG MUKA PELANGGAN
Akun ini merupakan uang muka yang diterima Perseroan atas penjualan produk-produk berikut:
2022 2021
Pintu besi 47.026.519.198 49.900.432.901
Peralatan kantor 3.299.937.998 3.733.132.834
Penyangga kabel (cable ladders) 1.859.336.661 20.592.173.358
Peralatan bangunan 650.242.821 650.242.821
Total 52.836.036.678 74.875.981.914
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DAN ENTITAS ANAKNYA
14. UTANG BANK
Akun ini merupakan saldo utang bank atas fasilitas kredit yang diperoleh PT Singa Purwakarta
Jaya entitas anak sebagai berikut ini:
2022 2021
Pada tanggal 9 Januari 2014 Berdasarkan Perjanjian Kredit Agunan Deposito Nomor:
CRO.JSD/021/KAD/2014, Perseroan memperoleh fasilitas kredit pinjaman tetap dari PT Bank
Mandiri (Perseroan) Tbk. Tujuan pinjaman tersebut adalah untuk Operasional Perseroan dengan
jumlah maksimum sebesar sebesar Rp 35.000.000.000 pada tahun 2022 dan 2021 dengan suku
bunga tetap 1,25% per tahun diatas tingkat suku bunga deposito yang dijaminkan. Perjanjian
kredit Agunan deposito telah diperpanjang berdasarkan addendum VIII (Kedelapan) nomor
CRO.JSD/021/KAD/2014 pada tanggal 6 Januari 2021, Adendum perjanjian kredit ini hanya
berlaku selama 12 bulan terhitung mulai tanggal 6 Januari 2021 sampai dengan tanggal
12 Januari 2022 dan telah diperpanjang Kembali berdasarkan addendum IX (Kesembilan)
dengan nomor CRO.JSD/021/KAD/2014 pada tanggal 12 Januari 2022 yang jatuh tempo pada
tanggal 12 Januari 2023 dan akan diperpanjang secara otomatis, sepanjang tidak ada pencairan
jaminan deposito. Fasilitas ini dijamin dengan penempatan deposito masing-masing sejumlah
Rp 35.000.000.000 dan 39.000.000.000 pada tahun 2022 dan 2021 atas nama PT Lion Metal
Works Tbk, Entitas induk.
Pada tanggal 10 Januari 2023, Pinjaman ini telah diperpanjang kembali berdasarkan Addendum
X (Kesepuluh) Perjanjian Kredit Anggunan Deposito Nomor: CRO.JSD/021/KAD/2014, jangka
waktu pinjaman diperpanjang sampai dengan 12 Januari 2024.
15. MODAL SAHAM
Kepemilikan saham Perseroan pada tanggal 31 Desember 2022 dan 2021 berdasarkan laporan
PT Raya Saham Registra, biro administrasi adalah sebagai berikut:
Total Saham
Ditempatkan dan Persentase
Pemegang Saham Disetor Penuh Pemilikan (%) Total
Pengurus
Cheng Yong Kim (Presiden Direktur) 690.000 0,132 69.000.000
Lim Tai Pong (Direktur) 630.000 0,121 63.000.000
Ir. Krisant Sophiaan (Direktur) 10.000 0,002 1.000.000
Tjoe Tjoe Peng
(Lawer Supendi) (Direktur) 5.000 0,001 500.000
Bukan Pengurus
Lion Holdings Pte. Ltd., Singapura 150.060.000 28,849 15.006.000.000
Lion Holdings Sdn. Bhd., Kuala Lumpur 150.060.000 28,849 15.006.000.000
Masyarakat (masing-masing di bawah 5%) 218.705.000 42,046 21.870.500.000
Total 520.160.000 100,00 52.016.000.000
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DAN ENTITAS ANAKNYA
16. KEPENTINGAN NON PENGENDALI
Penyertaan pemegang saham non-pengendali pada Entitas Anak sebesar 0,000016667% atau
masing-masing sejumlah Rp 425.819 dan Rp 391.093, tidak diakui dalam laporan keuangan
konsolidasian pada tanggal 31 Desember 2022 dan 2021 karena jumlahnya tidak material.
17. TAMBAHAN MODAL DISETOR - NETO

Rincian akun ini adalah sebagai berikut:
2022 2021
Agio saham atas penawaran saham perdana 3.450.000.000 3.450.000.000

Selisih antara nilai pasar dan nilai nominal saham
sehubungan dengan pembagian dividen saham
(3.251.000 lembar saham) pada tahun 1996 2.600.800.000 2.600.800.000
Pembagian saham bonus (3.251.000 lembar
saham) pada tahun 1996 (3.251.000.000 (3.251.000.000 )
Biaya emisi saham (817.224.900 (817.224.900 )
Selisih transaksi entitas sepengendali (27.944.879 ) (27.944.879 )
Total 1.954.630.221 1.954.630.221
Beban emisi saham berasal dari Penawaran Umum Terbatas Hak Memesan Efek Terlebih
Dahulu I kepada para pemegang saham pada tahun 1996.
18. DIVIDEN
Dalam Rapat Umum Tahunan Pemegang Saham yang diselenggarakan pada tanggal
15 Juli 2022, yang telah di akta notariskan dengan Akta No. 21 tertanggal 15 Juli 2022 dari
Notaris Fathiah Helmi, S.H., para pemegang saham memutuskan tidak membagikan dividen.
Dalam Rapat Umum Tahunan Pemegang Saham yang diselenggarakan pada tanggal 25 Agustus
2021, yang telah di akta notariskan dengan Akta No. 39 tertanggal 25 Agustus 2021 dari Notaris
Fathiah Helmi, S.H., para pemegang saham memutuskan untuk tidak membagikan dividen.
19. PENJUALAN NETO
Penjualan neto, merupakan penghasilan atas penjualan produk Perseroan, yaitu peralatan
kantor, gudang dan pabrikasi lainnya dari logam, seperti lemari arsip (filling cabinet), lemari
penyimpan, pintu besi, racking dan lainnya.
Klasifikasi penjualan neto menurut lokasi pasar adalah sebagai berikut:
2022 2021
Domestik 408.811.497.547 300.994.151.273

Retur penjualan dan potongan penjualan - (713.865.759 )
Total 408.811.497.547 300.280.285.514
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DAN ENTITAS ANAKNYA
19. PENJUALAN NETO (lanjutan)
Penjualan Perseroan kepada pelanggan yang melebihi 10% dari penjualan neto adalah kepada
PT Bantrunk Murni Indonesia, pihak berelasi, sebesar Rp 105.606.458.336 atau 25,83% dari
penjualan neto pada tahun 2022 dan Rp 85.583.250.576 atau 28,50% dari penjualan neto pada
tahun 2021 (Catatan 26).
20. BEBAN POKOK PENJUALAN
Rincian beban pokok penjualan adalah sebagai berikut:
2022 2021
Bahan baku dan bahan pelengkap
Saldo awal 50.706.400.611 34.185.459.646
Pembelian 175.795.694.606 145.920.613.179
Saldo akhir bahan baku (57.273.420.201 ) (50.706.400.611 )
Total pemakaian bahan baku dan
bahan pembantu 169.228.675.016 129.399.672.214
Upah buruh langsung 66.393.565.014 61.417.610.944
Beban pabrikasi 58.836.206.326 33.855.907.314
Total beban produksi 294.458.446.356 224.673.190.472

Persediaan barang dalam proses
Awal tahun 36.082.790.069 25.352.095.386
Akhir tahun (36.153.435.045 ) (36.082.790.069 )
Beban pokok produksi 294.387.801.380 213.942.495.789
Persediaan barang jadi
Awal tahun 99.818.194.579 84.328.531.754
Akhir tahun (132.496.572.340 ) (99.818.194.579 )
Beban Pokok Penjualan 261.709.423.619 198.452.832.964
Terdapat pembelian dari pemasok-pemasok pihak ketiga tertentu yang melebihi 10% dari
penjualan neto dengan rincian sebagai berikut :
Persentase dari
Total penjualan neto
2022 2021 2022 2021
Pembelian:
PT Krakatau Steel (Persero) Tbk 23.165.457.771 13.206.670.459 5,67% 12,97%
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DAN ENTITAS ANAKNYA
21. BEBAN USAHA

Rincian beban usaha adalah sebagai berikut:
2021 (Disajikan
2022 Kembali Catatan 31)
a. Beban penjualan
Penelitian dan pemasangan 13.322.196.725 14.807.333.779
Komisi penjualan 7.153.475.000 6.151.470.363
Pengepakan dan pengangkutan 5.572.949.769 3.700.069.640
Gaji dan kesejahteraan karyawan 4.732.474.310 4.652.391.875
Perbaikan dan pemeliharaan 945.623.248 893.237.100
Penyusutan (Catatan 8) 64.510.553 111.427.594
Iklan dan pameran 19.428.720 28.836.000
Lain-lain 1.100.934.938 1.749.745.355
32.911.593.263 32.094.511.706
b. Beban umum dan administrasi
Gaji dan kesejahteraan karyawan 71.457.053.995 59.825.559.874
Penyisihan ECLs (Catatan 6) 20.167.658.413 670.398.455
Penyusutan (Catatan 8) 3.347.082.717 3.636.498.402
Perbaikan dan pemeliharaan 2.816.216.785 1.012.150.733
Pajak bumi dan bangunan 1.632.123.047 1.493.450.814
Administrasi bank 888.965.894 1.342.100.276
Pos, telepon dan alat tulis 886.095.777 930.014.040
Honorarium konsultan 782.919.424 1.438.027.828
Asuransi 685.048.885 599.445.628
Perjalanan 633.910.120 201.444.983
Listrik dan air 614.123.625 726.279.354
Hak guna usaha (Catatan 9) 613.867.414 791.897.366
Lain-lain 4.706.497.461 5.556.800.398
110.040.745.795 79.152.745.924
Total 142.952.339.058 111.247.257.630
22. PENGHASILAN (BEBAN) LAINNYA

2022 2021
Laba selisih kurs-neto 1.794.158.339 523.272.317

Pendapatan sewa (Catatan 26) 394.200.000 394.200.000
Pemulihan penyisihan penurunan nilai (Catatan 6) 172.876.885 5.867.585.065
Laba penjualan aset tetap (Catatan 8) 69.050.000 146.450.000
Pendapatan (beban) lainnya (55.135.000 ) (62.525.300 )
Total 2.375.150.224 6.868.982.082
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DAN ENTITAS ANAKNYA
23. LIABILITAS IMBALAN KERJA

Perseroan mengakui liabilitas imbalan kerja yang tidak didanai sesuai dengan Undang-undang
Ketenagakerjaan No. 13/2003 tertanggal 25 Maret 2003 dan sesuai dengan Peraturan Perseroan
(Perjanjian Kerja Bersama) yang masih berlaku sampai tanggal 31 Desember 2022.
Tabel berikut ini merangkum komponen-komponen atas beban imbalan pasca kerja bersih yang
diakui dalam laporan laba rugi dan jumlah yang disajikan dalam laporan posisi keuangan sebagai
liabilitas imbalan pasca kerja berdasarkan penilaian aktuaria yang dilakukan oleh aktuaris
independen KKA Indra Catarya Situmeang Dan Rekan berdasarkan laporannya pada tanggal
8 Februari 2023 untuk tahun 2022 dan pada tanggal 8 Maret 2022 untuk tahun 2021, dengan
menggunakan asumsi berikut ini:
Tingkat diskonto : 7,18% per tahun pada 2022 dan 7,01% per tahun pada 2021
Kenaikan biaya upah dan gaji : 9% per tahun pada 2022 dan 2021
Umur pensiun : 55 tahun
Tingkat kematian : TMI 2019 per tahun 2014 dan CSO 1980 per tahun 2011
Metode : Projected Unit Credit
a. Beban kesejahteraan karyawan adalah sebagai berikut:
2021 (Disajikan
Biaya jasa kini 7.487.037.050 7.765.889.538

Biaya bunga 5.011.117.536 4.774.954.665
Biaya jasa lalu yang diakui 146.930.185 -
Total 12.645.084.771 12.540.844.203
b. Liabilitas diestimasi atas kesejahteraan karyawan adalah sebagai berikut:

2021 (Disajikan
Nilai kini liabilitas imbalan pasti 82.857.159.120 85.991.598.909
c. Perubahan liabilitas diestimasi atas kesejahteraan karyawan untuk tahun yang berakhir pada
tanggal 31 Desember 2022 dan 2021 adalah sebagai berikut:
2021 (Disajikan
Nilai kini liabilitas pada awal periode 85.991.598.909 83.301.401.535

Biaya jasa kini 7.487.037.050 7.765.889.538
Biaya bunga 5.011.117.536 4.774.954.665
Biaya jasa lalu 146.930.185 -
Pembayaran manfaat (7.218.434.860 ) (4.691.927.175 )
Pengukuran kembali:
Dampak perubahan asumsi keuangan (605.156.900 ) (1.335.884.335 )
Dampak penyesuaian pengalaman (7.955.932.800 ) (3.822.835.319 )
Total 82.857.159.120 85.991.598.909

Bagian yang jatuh tempo dalam satu tahun (10.460.914.624 ) 10.928.200.442
Bagian jangka panjang 72.396.244.496 75.063.398.467
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DAN ENTITAS ANAKNYA
23. LIABILITAS IMBALAN KERJA (lanjutan)
d. Tabel berikut menunjukkan sensitivitas atas kemungkinan perubahaan tingkat diskonto dan
tingkat kenaikan upah, dengan variabel lain dianggap tetap, terhadap liabilitas imbalan kerja
pada tanggal 31 Desember 2022:
Kenaikan Penurunan
1% 1%
Tingkat diskonto 8,18% 6,18%
Dampak liabilitas imbalan kerja (5.969.584.956 ) 7.812.930.904
Tingkat kenaikan upah 8,18% 6,18%

Dampak liabilitas imbalan kerja 7.986.809.718 (6.239.971.211 )
Analisa sensitivitas didasarkan pada perubahan atas satu asumsi aktuarial dimana asumsi
lainnya dianggap konstan. Dalam prakteknya, hal ini jarang terjadi dan perubahan beberapa
asumsi mungkin saling berkorelasi. Dalam perhitungan sensitivitas kewajiban imbalan pasti
atas asumsi aktuarial utama, metode yang sama (perhitungan nilai kini kewajiban imbalan
pasti dengan menggunakan metode projected unit credit di akhir periode) telah diterapkan
seperti dalam penghitungan kewajiban pensiun yang diakui dalam laporan posisi keuangan.
Metode dan tipe asumsi yang digunakan dalam menyiapkan analisa sensitivitas tidak berubah
dari periode sebelumnya.
Jatuh tempo kewajiban manfaat pasti pada tanggal 31 Desember 2022 dan 2021 adalah
sebagai berikut.
2022 2021
Dalam waktu 12 bulan berikutnya

(periode laporan periode berikutnya) 10.460.914.624 10.928.200.442
Antara 2 dan 5 tahun 16.146.562.807 19.155.135.497
Di atas 5 tahun 56.724.799.180 82.163.550.216
Rata-rata durasi kewajiban imbalan pasti pada tanggal 31 Desember 2022 dan 2021 adalah
15,72 dan 16,04 tahun.
24. ASET MONETER DALAM MATA UANG ASING
Pada tanggal 31 Desember 2022 dan 2021, saldo aset dan liabilitas moneter dalam mata uang
asing terdiri dari:
2022 2021
Mata Uang Original Ekuivalen Rupiah Mata Uang Original Ekuivalen Rupiah
Aset
Setara kas AS$ 607.051,97 9.549.534.519 AS$ . 2.631.588,21 37.550.132.169
Aset di atas dijabarkan menggunakan kurs penutupan Bank Indonesia tanggal 31 Desember
2022.
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DAN ENTITAS ANAKNYA
25. INFORMASI SEGMEN USAHA
Perseroan melaksanakan kegiatan bisnis utama mereka, yang dibagi menjadi dua (2) produk
utama; peralatan kantor dan material bangunan. Informasi yang berkaitan
dengan segmen usaha dari Perseroan adalah sebagai berikut:
2022
Peralatan Material
Kantor Bangunan Konsolidasian
(dalam juta (dalam juta (dalam juta
Rupiah) Rupiah) Rupiah)
Penjualan
Penjualan ekstern 227.663 181.148 408.811
Total Penjualan 408.811
Beban
Beban pokok penjualan (261.709 )
Beban usaha (142.952 )
Laba 4.150
Penghasilan Keuangan 969

Penghasilan (beban) lain-lain - neto 2.375
Beban pajak (5.180 )
Laba neto 2.314
Informasi lainnya
Aset segmen 684.498
Liabilitas segmen 209.683
Perolehan aset tetap 4.278
Beban penyusutan 8.002
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DAN ENTITAS ANAKNYA
25. INFORMASI SEGMEN USAHA (lanjutan)
2021
Peralatan Material
Kantor Bangunan Konsolidasian
(dalam juta (dalam juta (dalam juta
Penjualan
Penjualan ekstern 175.407 124.873 300.280
Total Penjualan 300.280
Beban
Beban pokok penjualan (198.453 )
Beban usaha (111.247 )
Rugi (9.420 )
Penghasilan Keuangan 1.174

Penghasilan (beban) lain-lain – neto 6.869
Beban pajak (7.361 )
Rugi neto (8.738 )
Informasi lainnya
Aset segmen 686.807
Liabilitas segmen 220.984
Perolehan aset tetap 5.509
Beban penyusutan 9.032
26. SALDO AKUN DAN TRANSAKSI DENGAN PIHAK-PIHAK BERELASI
Rincian akun dan transaksi yang berhubungan dengan pihak-pihak berelasi adalah sebagai
berikut:
Persentase dari Total Aset/

Total Penjualan/Pembelian/Beban
2022 2021 2022 2021
Piutang usaha:
PT Bantrunk Murni Indonesia 10.804.802.117 19.715.222.551 1,70% 2,85%
PT Logam Menara Murni 10.171.617.870 8.482.107.461 1,60% 1,22%
PT Logam Angkasa Teknik 4.089.017.063 4.407.720.030 0,64% 0,64%
Total 25.065.437.050 32.605.050.042 3,94% 4,71%
Penjualan neto:
PT Bantrunk Murni Indonesia 105.606.458.336 85.583.250.576 25,83% 28,50%
PT Logam Menara Murni 10.319.421.453 10.206.398.295 2,52% 3,40%
PT Logam Angkasa Teknik 6.895.911.819 11.435.721.168 1,69% 3,81%
PT Lionmesh Prima Tbk 17.684.190 63.207.850 0,00% 0,02%
Total 122.839.475.798 107.288.577.889 30,04% 35,73%
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DAN ENTITAS ANAKNYA
26. SALDO AKUN DAN TRANSAKSI DENGAN PIHAK-PIHAK BERELASI (lanjutan)
Rincian akun dan transaksi yang berhubungan dengan pihak-pihak berelasi adalah sebagai
berikut: (lanjutan)
Persentase dari Total Aset/

Total Penjualan/Pembelian/Beban
2022 2021 2022 2021

Piutang lain-lain:
PT Lionmesh Prima Tbk 1.414.924.815 1.414.924.815 0,20% 0,20%
Pembelian:
PT Bantruk Murni Indonesia 25.555.950 56.029.300 0,056% 0,05%
Total 123.779.250 148.840.650 0,07% 0,08%

Pendapatan sewa dari :
PT Lion Superior Electrodes 340.200.000 340.200.000 0,11% 0,11%
PT Bantruk Murni Indonesia 27.000.000 27.000.000 0,01% 0,01%
PT Logam Menara Murni 27.000.000 27.000.000 0,01% 0,01%
394.200.000 394.200.000 0,13% 0,13%
Beban sewa:
Kompensasi:
Dewan Komisaris dan Direksi 9.550.128.500 6.929.885.014 0,06% 0,06%
Transaksi ini dilakukan berdasarkan persyaratan yang disetujui oleh kedua belah pihak, dimana
persyaratan tersebut mungkin tidak sama dengan transaksi lain yang dilakukan dengan pihak-
pihak yang tidak berelasi.
Piutang lain-lain sebesar Rp 1.414.924.815 merupakan tagihan kepada PT Lionmesh Prima Tbk
atas penerimaan pengalihan liabilitas imbalan kerja pada tahun 2022 dan 2021.
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DAN ENTITAS ANAKNYA
26. SALDO AKUN DAN TRANSAKSI DENGAN PIHAK-PIHAK BERELASI (lanjutan)
Berdasarkan akta notaris No. 13 Perjanjian Sewa Menyewa tanggal 27 Juli 2022, antara
Perseroan dan PT Lionmesh Prima Tbk, entitas sepengendali, Perseroan menyewa tanah dan
bangunan pabrik yang berlokasi di Sidoarjo untuk jangka waktu 5 tahun, dengan pembayaran
sewa dilakukan tiap tahun.
Hubungan dan sifat transaksi dengan pihak-pihak berelasi adalah sebagai berikut:
Pihak Berelasi Hubungan Sifat Transaksi
PT Bantrunk Murni Indonesia Entitas sepengendali Penjualan, pembelian dan

penyewaan ruangan
PT Logam Angkasa Teknik Entitas sepengendali Penjualan dan pembelian
PT Logam Menara Murni Entitas sepengendali Penjualan, pembelian dan
penyewaan ruangan
Lion Steelworks Sdn Bhd, Malaysia Entitas sepengendali Penjualan
PT Lion Superior Electrodes Entitas sepengendali Penyewaan ruangan
PT Lionmesh Prima Tbk Entitas sepengendali Penjualan, pembelian, penyewaan
ruangan dan pengalihan liabilitas
imbalan kerja, beban sewa
27. KEBIJAKAN DAN TUJUAN MANAJEMEN RISIKO KEUANGAN
Dalam aktivitas usahanya sehari-hari, Perseroan dan Entitas Anaknya dihadapkan pada berbagai
risiko. Risiko utama yang dihadapi Perseroan dan Entitas Anaknya yang timbul dari instrumen
keuangan adalah risiko kredit, risiko pasar (yaitu tingkat suku bunga dan risiko nilai tukar mata
uang asing), dan risiko likuiditas. Fungsi utama dari manajemen risiko Perseroan dan Entitas
Anaknya adalah untuk mengidentifikasi seluruh risiko kunci, mengukur risiko-risiko ini dan
mengelola posisi risiko sesuai dengan kebijakan. Perseroan dan Entitas Anaknya secara rutin
menelaah kebijakan dan sistem manajemen risiko untuk menyesuaikan dengan perubahan di
pasar, produk dan praktek pasar terbaik.
a. Risiko Kredit
Risiko kredit adalah risiko bahwa pihak ketiga tidak akan memenuhi liabilitasnya berdasarkan
instrumen keuangan atau kontrak pelanggan, yang menyebabkan kerugian keuangan.
Perseroan dihadapkan pada risiko kredit dari kegiatan operasi dan dari aktivitas pendanaan,
termasuk deposito pada bank dan instrumen keuangan lainnya. Risiko kredit terutama
berasal dari piutang usaha dari pelanggan yang berasal dari penjualan produk.
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DAN ENTITAS ANAKNYA
27. KEBIJAKAN DAN TUJUAN MANAJEMEN RISIKO KEUANGAN (lanjutan)
a. Risiko Kredit (lanjutan)
Tinjauan eksposur Perseroan dan Entitas Anak terhadap risiko kredit
Nilai tercatat aset keuangan pada laporan keuangan setelah dikurangi dengan cadangan
kerugian, mencerminkan eksposur Perseroan terhadap risiko kredit.
Kerangka peringkat risiko kredit kini Perseroan dan Entitas Anak terdiri dari kategori berikut:
Kategori Deskripsi Dasar pengakuan ECL

Lancar Pihak lawan memiliki risiko gagal bayar yang rendah ECL 12 bulan
dan tidak memiliki tunggakan.
Dicadangkan Jumlah yang tertunggak > 30 hari atau telah ada ECL sepanjang umur -
peningkatan risiko kredit yang signifikan sejak kredit tidak memburuk
pengakuan awal.
Gagal bayar Jumlah yang tertunggak > 90 hari atau ada bukti ECL sepanjang umur -
yang mengindikasikan aset mengalami penurunan kredit memburuk
nilai kredit.
Penghapusan Ada bukti yang mengindikasikan bahwa debitur Saldo dihapuskan

dalam kesulitan keuangan yang buruk dan
Perseroan dan Entitas Anak tidak memiliki prospek
pemulihan yang realistis.
Tabel di bawah merinci kualitas kredit aset keuangan Perseroan dan Entitas Anaknya serta
eksposur maksimum risiko kredit menurut peringkat risiko kredit:
2022
Peringkat Peringkat Jumlah Jumlah
Kredit Kredit ECL 12 bulan atau tercatat Cadangan Tercatat
31 Desember 2022 Eksternal Internal sepanjang umur bruto Kerugian Bersih
Bank dan setara kas (Catatan 4) AAA Lancar ECL 12 bulan 46.936.173.450 46.936.173.450
Deposito berjangka (Catatan 5) BBB Lancar ECL 12 bulan 48.084.719.917 48.084.719.917
ECL sepanjang umur

(pendekatan
Piutang usaha (Catatan 6) N/A (i) sederhana) 175.728.788.045 (34.724.025.379) 141.004.762.666
Piutang karyawan AAA Lancar ECL 12 bulan 771.060.000 771.060.000
Piutang lain-lain pihak berelasi AAA Lancar ECL 12 bulan 1.414.924.815 - 1.414.924.815
272.935.666.227 (34.724.025.379) 238.211.640.848
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DAN ENTITAS ANAKNYA
a. Risiko Kredit (lanjutan)
Tinjauan eksposur Perseroan dan Entitas Anak terhadap risiko kredit (lanjutan)
2021
Peringkat Peringkat Jumlah Jumlah
Kredit Kredit ECL 12 bulan atau tercatat Cadangan Tercatat
31 Desember 2022 Eksternal Internal sepanjang umur bruto Kerugian Bersih
Bank dan setara kas (Catatan 4) AAA Lancar ECL 12 bulan 98.484.246.768 - 98.484.246.768
Deposito berjangka (Catatan 5) BBB Lancar ECL 12 bulan 76.493.496.823 - 76.493.496.823
ECL sepanjang umur

(pendekatan
Piutang usaha (Catatan 6) N/A (i) sederhana) 154.614.044.802 (14.729.243.851 ) 139.884.800.951
Piutang karyawan AAA Lancar ECL 12 bulan 2.102.742.500 - 2.102.742.500
Piutang lain-lain pihak berelasi AAA Lancar ECL 12 bulan 1.414.924.815 - 1.414.924.815
333.109.455.708 (14.729.243.851 ) 318.380.211.857
(i) Untuk piutang usaha, Perseroan dan Entitas Anaknya telah menerapkan pendekatan yang
disederhanakan dalam PSAK 71 untuk mengukur cadangan kerugian ECL sepanjang
umur. Perseroan dan Entitas Anak menentukan kerugian kredit ekspektasian atas pospos
ini dengan menggunakan matriks provisi, yang diestimasi berdasarkan pengalaman
kerugian kredit historis berdasarkan status jatuh tempo debitur, disesuaikan untuk
mencerminkan kondisi saat ini dan estimasi kondisi ekonomik masa depan.
b. Risiko Pasar
Risiko pasar adalah risiko dimana nilai wajar dari arus kas masa depan dari suatu instrumen
keuangan akan berfluktuasi karena perubahan harga pasar. Perseroan dan Entitas Anak
dipengaruhi oleh risiko pasar, terutama risiko tingkat suku bunga dan risiko nilai tukar mata
uang asing.
Risiko nilai tukar mata uang asing
Risiko mata uang asing adalah risiko dimana nilai wajar atau arus kas masa mendatang dari
suatu instrumen keuangan karena perubahan dari nilai tukar mata uang asing. Pengaruh dari
risiko perubahan nilai tukar mata uang asing terutama berasal dari aktivitas usaha Perseroan
dan Entitas Anak (ketika pendapatan dan beban terjadi dalam uang yang berbeda dari mata
uang fungsional Perseroan).
Pengaruh fluktuasi nilai tukar atas Perseroan berasal dari nilai tukar antara Dolar AS, dan
Rupiah. Bagian signifikan dari risiko nilai tukar mata uang asing berasal dari kas dan setara
kas dalam Dolar AS.
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DAN ENTITAS ANAKNYA
b. Risiko Pasar (lanjutan)
Risiko nilai tukar mata uang asing (lanjutan)
Perseroan dan Entitas Anaknya memonitor secara ketat fluktuasi dari nilai tukar mata uang
asing sehingga dapat mengambil langkah-langkah yang paling menguntungkan Perseroan
pada waktu yang tepat. Manajemen tidak menganggap perlu untuk melakukan transaksi
forward/swap mata uang asing saat ini.
Tabel berikut menunjukkan sensitivitas terhadap perubahan yang mungkin terjadi pada nilai
tukar Rupiah terhadap mata uang asing, dengan semua variabel lainnya tetap konstan,
dengan pendapatan sebelum pajak yang berakhir 31 Desember 2022 dan 2021:
Kenaikan (Penurunan) Pengaruh pada
Tahun Mata Uang Asing laba sebelum pajak
31 Desember 2022 USD 3% 302.973.617

-3% (302.973.617 )
31 Desember 2021 USD 1% 375.501.585

-1% (375.501.585 )
Perseroan dan Entitas Anaknya memiliki aset dan kewajiban moneter dalam mata uang asing
pada tanggal 31 Desember 2022 dan 2021 dan disajikan dalam Catatan 25.
c. Risiko Tingkat Suku Bunga
Risiko tingkat suku bunga adalah risiko dimana nilai wajar atau arus kas masa depan dari
suatu instrumen keuangan berfluktuasi karena perubahan suku bunga pasar. Pengaruh dari
risiko perubahan suku bunga pasar berhubungan dengan pinjaman dari Perseroan dan
Entitas Anaknya yang dikenakan suku bunga mengambang.
Perseroan dan Entitas Anaknya memonitor secara ketat fluktuasi suku bunga pasar dan
ekspektasi pasar sehingga dapat mengambil langkah-langkah yang paling menguntungkan
Perseroan dan Entitas Anaknya secara tepat waktu. Manajemen tidak menganggap perlunya
melakukan swap suku bunga pada saat ini.
Tabel berikut menunjukkan sensitivitas atas perubahan yang wajar dari tingkat suku bunga
atas saldo pinjaman yang dikenakan suku bunga mengambang, dimana semua variabel
lainnya dianggap konstan, terhadap laba sebelum beban pajak konsolidasian untuk tahun
yang berakhir tanggal 31 Desember 2022 dan 2021:
Kenaikan (Penurunan) Efek terhadap laba

Tahun dalam basis poin/ sebelum pajak
31 Desember 2022 dan 2021 100 35.000.000

-100 (35.000.000 )
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DAN ENTITAS ANAKNYA
d. Risiko Likuiditas
Risiko likuiditas adalah risiko dimana Perseroan tidak bisa memenuhi liabilitas pada saat jatuh
tempo. Manajemen melakukan evaluasi dan pengawasan yang ketat atas arus kas masuk
(cash-in) dan kas keluar (cash-out) untuk memastikan tersedianya dana untuk memenuhi
kebutuhan pembayaran liabilitas yang jatuh tempo. Secara umum, kebutuhan dana untuk
pelunasan liabilitas jangka pendek maupun jangka panjang yang jatuh tempo diperoleh dari
penjualan kepada pelanggan.
Tabel dibawah merupakan profil liabilitas keuangan Perseroan berdasarkan kontrak

pembayaran tanpa diskonto pada tanggal 31 Desember 2022 dan 2021:
Semua liabilitas keuangan Perseroan jatuh tempo dalam satu tahun sejak penyelesaian
pelaporan dengan detail sebagai berikut:
2022 2021
Utang usaha - pihak ketiga 23.603.400.660 16.897.309.385

Biaya masih harus dibayar 535.000.000 515.000.000
Utang dividen 2.054.266.175 2.054.266.175
Pinjaman bank 35.000.000.000 35.000.000.000
Liabilitas sewa 602.735.117 -
Total 61.795.401.952 54.466.575.560
e. Manajemen Risiko Modal
Perseroan dan Entitas Anaknya dihadapkan pada risiko modal untuk memastikan bahwa
akan mampu melanjutkan kelangsungan usahanya, selain memaksimalkan keuntungan para
pemegang saham, melalui optimalisasi saldo utang dan ekuitas. Struktur modal Perseroan
terdiri dari ekuitas pemilik induk, yang terdiri dari modal yang ditempatkan, saldo laba dan
komponen ekuitas lainnya.
Direksi Perseroan dan Entitas Anaknya secara berkala melakukan reviu struktur permodalan
Perseroan. Sebagai bagian dari reviu ini, Direksi mempertimbangkan biaya permodalan dan
risiko yang berhubungan. Perseroan mengelola risiko ini dengan memonitor rasio utang
terhadap Ekuitas.
Perseroan dan Entitas Anaknya mengelola struktur permodalan dan melakukan penyesuaian,
berdasarkan perubahan kondisi ekonomi. Untuk memelihara dan menyesuaikan struktur
permodalan. Perseroan dan Entitas Anak dapat menyesuaikan pembayaran dividen kepada
pemegang saham, imbal modal kepada pemegang saham atau menerbitkan saham baru.
Tidak ada perubahan atas tujuan, kebijakan maupun proses pada periode berakhir pada
tanggal 31 Desember 2022 dan 2021.
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DAN ENTITAS ANAKNYA
e. Manajemen Risiko Modal (lanjutan)
Pinjaman terhadap modal pada tanggal 31 Desember 2022 dan 2021 sebagai berikut:
2021 (Disajikan
Utang bank 35.000.000.000 35.000.000.000

Ekuitas 474.814.738.259 465.822.725.534
Rasio pinjaman terhadap ekuitas 0,07 : 1 0,08 : 1
28. LABA PERSAHAM
Berikut ini mencerminkan pendapatan dan total saham yang digunakan sebagai dasar dalam
perhitungan laba per saham tahun 2022 dan 2021:
2021 (Disajikan
Laba (rugi) neto periode berjalan 2.314.362.759 (8.737.689.655 )

Rata-rata tertimbang total saham biasa
yang beredar 520.160.000 520.160.000
Laba (Rugi) neto per saham 4 (17 )
29. KELOMPOK INSTRUMEN KEUANGAN
A. Kategori dan Kelas Instrumen Keuangan
Aset keuangan pada

biaya perolehan diamortisasi
2022 2021
Aset Keuangan Lancar

Bank dan setara kas 46.936.173.450 98.484.246.768
Deposito berjangka 48.084.719.917 37.493.496.823
Piutang usaha
Pihak berelasi 22.724.657.316 30.091.393.423
Pihak ketiga 118.280.105.350 109.793.407.528
Piutang karyawan 771.060.000 2.102.742.500
Aset Keuangan Tidak Lancar
Deposito berjangka yang
dibatasi penggunaannya 35.000.000.000 39.000.000.000
Piutang lain-lain pihak berelasi 1.414.924.815 1.414.924.815
Jumlah aset keuangan 273.211.640.848 318.380.211.857
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DAN ENTITAS ANAKNYA
29. KELOMPOK INSTRUMEN KEUANGAN (lanjutan)
A. Kategori dan Kelas Instrumen Keuangan (lanjutan)
Liabilitas keuangan pada biaya

Perolehan diamortisasi
2022 2021
Liabilitas keuangan jangka pendek

Utang usaha - pihak ketiga 23.603.400.660 16.897.309.385
Biaya yang masih harus dibayar 535.000.000 515.000.000
Utang dividen 2.054.266.175 2.054.266.175
Pinjaman bank 35.000.000.000 35.000.000.000
Liabilitas sewa 602.735.117 -
Jumlah liabilitas keuangan 61.795.401.952 54.466.575.560
B. Pengukuran Nilai Wajar
Direksi menganggap bahwa nilai tercatat aset keuangan dan liabilitas keuangan diakui dalam
laporan keuangan mendekati nilai wajarnya.
30. INFORMASI TAMBAHAN ARUS KAS
a. Aktivitas investasi non-kas yang signifikan
2021
AKTIVITAS INVESTASI YANG TIDAK

MEMPENGARUHI ARUS KAS
Perolehan aset tetap melalui
piutang usaha 4.500.000.000
b. Aktivitas pendanaan non-kas yang signifikan
2022
Transaksi Arus
Kas Mutasi Non Kas
Penambahan Amortisasi 31 Desember

1 Januari 2022 Pembayaran aset hak-guna biaya keuangan 2022
Sewa - (720.000.000 ) 3.268.780.926 43.479.921 2.592.260.847
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DAN ENTITAS ANAKNYA
30. INFORMASI TAMBAHAN ARUS KAS (lanjutan)
b. Aktivitas pendanaan non-kas yang signifikan (lanjutan)
2021
Transaksi Arus
Kas Mutasi Non Kas
Penambahan Amortisasi 31 Desember

1 Januari 2021 Pembayaran aset hak-guna biaya keuangan 2021
Sewa 846.423.382 (853.000.000 ) - 6.576.618 -
31. PENERAPAN SIARAN PERS DSAK IAI ATAS PERSYARATAN PENGATRIBUSIAN

IMBALAN PADA PERIODE JASA
bahwa pola fakta umum dari program pensiun berbasis Undang-undang Ketenagakerjaan yang
berlaku di Indonesia saat ini memiliki pola fakta serupa dengan yang ditanggapi dan disimpulkan
dalam IFRS Interpretation Committee (“IFRIC”) Agenda Decision Attributing Benefit to Periods of
Service (IAS 19).
Perseroan dan Entitas Anaknya telah menerapkan materi penjelasan tersebut dan dengan
demikian mengubah kebijakan akuntansi mengenai atribusi imbalan kerja pada periode jasa dari
kebijakan yang diterapkan sebelumnya, sehingga laporan keuangan Perseroan dan Entitas
Anaknya pada tanggal 31 Desember 2021 dan untuk tahun yang berakhir pada tanggal tersebut
telah disajikan sebagai berikut:
31 Desember 2021
Penyesuaian
Penerapan
Siaran Pers
Sebelum DSAK IAI Terkait Setelah
Disesuaikan PSAK 24 Disesuaikan
LAPORAN POSISI KEUANGAN
ASET TIDAK LANCAR

Aset pajak tangguhan - neto 31.044.813.959 (5.776.163.194 ) 25.268.650.765

Liabilitas imbalan kerja
jangka panjang 101.318.685.713 (26.255.287.246) 75.063.398.467
EKUITAS
Saldo laba
Belum ditentukan
penggunaannya 381.454.971.274 20.429.124.039 401.884.095.313
61
DAN ENTITAS ANAKNYA
31. PENERAPAN SIARAN PERS DSAK IAI ATAS PERSYARATAN PENGATRIBUSIAN

IMBALAN PADA PERIODE JASA (lanjutan)
bahwa pola fakta umum dari program pensiun berbasis Undang-undang Ketenagakerjaan yang
berlaku di Indonesia saat ini memiliki pola fakta serupa dengan yang ditanggapi dan disimpulkan
dalam IFRS Interpretation Committee (“IFRIC”) Agenda Decision Attributing Benefit to Periods of
Service (IAS 19). (lanjutan)
Perseroan dan Entitas Anaknya telah menerapkan materi penjelasan tersebut dan dengan
demikian mengubah kebijakan akuntansi mengenai atribusi imbalan kerja pada periode jasa dari
kebijakan yang diterapkan sebelumnya, sehingga laporan keuangan Perseroan dan Entitas
Anaknya pada tanggal 31 Desember 2021 dan untuk tahun yang berakhir pada tanggal tersebut
telah disajikan sebagai berikut: (lanjutan)
31 Desember 2021
Penyesuaian
Penerapan
Siaran Pers
BEBAN USAHA
Umum dan administrasi (81.469.781.794 ) 2.317.035.870 (79.152.745.924 )
PENDAPATAN KOMPREHENSIF LAIN

Pengukuran kembali liabilitas
imbalan kerja 7.514.038.637 (2.355.318.983 ) 5.158.719.654
Pajak penghasilan terkait (1.008.795.540 ) 452.086.838 (556.708.702 )
31 Desember 2020
Penyesuaian
Penerapan
Siaran Pers
LAPORAN POSISI KEUANGAN
ASET TIDAK LANCAR

Aset pajak tangguhan - neto 29.005.920.311 523.382.146 29.529.302.457

Liabilitas imbalan kerja
jangka panjang 94.234.008.759 (26.293.570.359 ) 67.940.438.400
EKUITAS
Saldo laba
Belum ditentukan penggunaannya 379.252.821.512 26.816.952.504 406.069.774.016
62
AND ITS SUBSIDIARY
CONSOLIDATED FINANCIAL STATEMENTS
AS AT DECEMBER 31, 2022 AND
FOR THE YEAR THEN ENDED
AND INDEPENDENT AUDITOR’S REPORT
The original consolidated financial statements included herein are in the Indonesian language.

AND ITS SUBSIDIARY
CONSOLIDATED FINANCIAL STATEMENTS
AS AT DECEMBER 31, 2022 AND
FOR THE YEAR THEN ENDED
AND INDEPENDENT AUDITOR’S REPORT
Table of Contents
Pages
Directors’ Statement Letter
Independent Auditor’s Report
Consolidated Statement of Financial Position……………...…………………………………………. 1 - 2
Consolidated Statement of Profit or Loss and

Other Comprehensive Income ………..............................................………………………………... 3
Consolidated Statement of Changes in Equity…………………………….…..…………………...…. 4
Consolidated Statement of Cash Flows.…………………….……………..…………………………. 5
Notes to the Consolidated Financial Statements…….………….……….……………………………6 - 62

INDEPENDENT AUDITOR’S REPORT
Report No. 00267/2.1051/AU.1/04/1091-2/1/III/2023
The Shareholders, Boards of Commissioners and Directors

Opinion
We have audited the consolidated financial statements of PT Lion Metal Works Tbk (the “Company”)
and its Subsidiary, which comprise the consolidated statement of financial position as at
December 31, 2022, and the consolidated statement of profit or loss and other comprehensive income,
consolidated statement of changes in equity and consolidated statement of cash flows for the year
then ended, and notes to the consolidated financial statements, including a summary of significant
accounting policies.
In our opinion, the accompanying consolidated financial statements present fairly, in all material
respects, the consolidated financial position of the Company and its Subsidiary as at December 31,
2022, and its consolidated financial performance and its consolidated cash flows for the year then
ended in accordance with Indonesian Financial Accounting Standards.
Basis for opinion
We conducted our audit in accordance with Standards on Auditing established by the Indonesian
Institute of Certified Public Accountants. Our responsibilities under those standards are further
described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements
paragraph of our report. We are independent of the Company and its Subsidiary in accordance with
the ethical requirements that are relevant to our audit of the consolidated financial statements in
Indonesia, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our opinion.
Key audit matters
Key audit matters are those matters that, in our professional judgment, were of most significance in
our audit of the consolidated financial statements of the current period. These matters were addressed
in the context of our audit of the consolidated financial statements as a whole, and in forming our
opinion thereon, and we do not provide a separate opinion on these matters.
Key audit matters identified in our audit is outlined as follows:

Page 2
Allowance for expected credit losses (ECL) for trade receivables
As disclosed in Note 6 to the consolidated financial statements, the Company and its Subsidiary’s net
trade receivables, which is include an allowance for ECL of Rp 34.7 billion, represents a significant
balance in the Company and its Subsidiary’s consolidated statement of financial position as at
December 31, 2022.
The valuation of the allowance for impairment of trade receivables is a key audit matter due to
significant management judgment and estimates involved.
How our audit addressed this key audit matter
Our audit procedures included among others:
 We evaluated and tested the Company and its Subsidiary’s processes for trade receivables,
including the provisioning and collection processes;
 We asked questions and obtained an understanding from management on the methodology for
measuring expected credit losses, the model for expected credit losses, and the input data, basis
and assumptions used by the Company and its Subsidiary in calculating the allowance for expected
credit losses;
 We tested the primary controls over the administration, recording and monitoring of trade
receivables;
 We tested the completeness and accuracy of the input data, data and assumptions used by the
Company and its Subsidiary and check the accuracy of calculating the amount of allowance for
expected credit losses, by independently recalculating the entire portfolio that is collectively
assessed for impairment;
 We have assessed, compared historical data and assessed management's views on credit risk
that impact the recognition of allowance for expected credit losses; and
 We test whether trade receivables are subsequently collected.
Emphasis of matter
We draw attention to Note 2 and 31 to the financial statements, which discloses the adoption of PSAK
24 “Employee Benefits - Attribution of Benefits During the Period of Service” in accordance with
Indonesian Financial Accounting Standards (SAK) which led to the restatement of the accompanying
financial statements as at December 31, 2021 and for the year then ended and the consolidated
position as at January 1, 2021. Our opinion is not modified in this matter.
Responsibilities of Management and Those Charged with Governance for the Consolidated
Financial Statements
Management is responsible for the preparation and fair presentation of the consolidated financial
statements in accordance with Indonesian Financial Accounting Standards, and for such internal
control as management determines is necessary to enable the preparation of consolidated financial
statements that are free from material misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, management is responsible for assessing

the Company and its Subsidiary’s ability to continue as a going concern, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless management
either intends to liquidate the Company and its Subsidiary or to cease operations, or has no realistic
alternative but to do so.
Those charged with governance are responsible for overseeing the Company and its Subsidiary’s
financial reporting process.
Page 3
Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements
Our objectives are to obtain reasonable assurance about whether the consolidated financial
statements as a whole are free from material misstatement, whether due to fraud or error, and to issue
an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but
is not a guarantee that an audit conducted in accordance with Standards on Auditing will always detect
a material misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these consolidated financial statements.
As part of an audit in accordance with Standards on Auditing, we exercise professional judgment and
maintain professional skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the consolidated financial statements,
whether due to fraud or error, design and perform audit procedures responsive to those risks, and
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk
of not detecting a material misstatement resulting from fraud is higher than for one resulting from
error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the
override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Company and its Subsidiary’s internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.
• Conclude on the appropriateness of management's use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubt on the Company and its Subsidiary’s ability to continue
as a going concern. If we conclude that a material uncertainty exists, we are required to draw
attention in our auditor's report to the related disclosures in the consolidated financial statements
or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the
audit evidence obtained up to the date of our auditor's report. However, future events or conditions
may cause the Company and its Subsidiary to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the consolidated financial statements,
including the disclosures, and whether the consolidated financial statements represent the
underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or
business activities within the Company and its Subsidiary to express an opinion on the
consolidated financial statements. We are responsible for the direction, supervision and
performance of the group audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and
other matters that may reasonably be thought to bear on our independence, and where applicable,
related safeguards.
Page 4
Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements (continued)
From the matters communicated with those charged with governance, we determine those matters
that were of most significance in the audit of the consolidated financial statements of the current period
and are therefore the key audit matters. We describe these matters in our auditor’s report unless law
or regulation precludes public disclosure about the matter or when, in extremely rare circumstances,
we determine that a matter should not be communicated in our report because the adverse
consequences of doing so would reasonably be expected to outweigh the public interest benefits of
such communication.
KOSASIH, NURDIYAMAN, MULYADI, TJAHJO & REKAN
Heru Kusdandaru
Public Accountant License No. AP. 1091
March 28, 2023


AND ITS SUBSIDIARY
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at December 31, 2022
(Expressed in Rupiah, unless otherwise stated)
2021 2020
(as restated (as restated
Notes 2022 Note 31) Note 31)
ASSETS
CURRENT ASSETS
Cash and cash equivalents 4 47,307,400,933 99,398,874,411 129,156,773,909
Time deposits 5 48,084,719,917 37,493,496,823 20,475,657,622
Trade receivables
Third parties - net of
allowance for expected credit losses
of Rp 32,383,245,645 and
Rp 12,215,587,232 as of
December 31, 2022 and 2021,
respectively 6 118,280,105,350 109,793,407,528 109,012,840,612
Related parties - net of
allowance for expected credit losses
of Rp 2,340,779,734 and
Rp 2,513,656,619 as of
respectively 6,26 22,724,657,316 30,091,393,423 15,510,178,667
Employee receivables 771,060,000 2,102,742,500 2,005,275,000
Inventories - net of allowance
for inventories obsolescence of
Rp 532,443,070 as of
December 31, 2022 and 2021 7 232,978,356,169 192,548,410,163 148,996,220,302
Advances to suppliers 3,233,073,219 2,204,251,587 1,446,571,178
Total Current Assets 473,379,372,904 473,632,576,435 426,603,517,290
NON-CURRENT ASSETS
Restricted time deposits 5 35,000,000,000 39,000,000,000 35,000,000,000
Other receivables - related party 26 1,414,924,815 1,414,924,815 1,414,924,815
Deferred tax assets - net 12 28,282,153,583 25,268,650,765 29,529,302,457
Property, plant and equipment
- net of accumulated depreciation of
Rp 146,500,559,401 and
Rp 138,630,169,597 as of
respectively 8 83,853,311,663 87,577,193,967 91,100,397,128
Right-of-use assets - net 9 3,050,862,197 395,948,685 1,187,846,051
Investment properties - net 10 59,517,253,319 59,517,253,319 59,517,253,319
Total Non-Current Assets 211,118,505,577 213,173,971,551 221,749,723,770
TOTAL ASSETS 684,497,878,481 686,806,547,986 648,353,241,060
The accompanying notes form an integral part of these consolidated financial statements.
1

AND ITS SUBSIDIARY
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued)
As at December 31, 2022
2021 2020
(as restated (as restated
Notes 2022 Note 31) Note 31)
LIABILITIES
CURRENT LIABILITIES
Trade payables - third parties 11 23,603,400,660 16,897,309,385 10,970,214,441
Taxes payable 12 10,202,066,742 5,646,716,069 3,355,537,806
Accrued expenses 535,000,000 515,000,000 495,000,000
Advances from customers 13 52,836,036,678 74,875,981,914 42,217,535,351
Dividends payable 2,054,266,175 2,054,266,175 2,054,266,175
Other liabilities 2,950,000 2,950,000 154,458,133
Short-term employee benefits liability 23 10,460,914,624 10,928,200,442 15,360,963,135
Current maturities of long-term liabilities:
Bank loans 14 35,000,000,000 35,000,000,000 35,000,000,000
Lease liabilities 9 602,735,117 - 846,423,382
Total Current Liabilities 135,297,369,996 145,920,423,985 110,454,398,423
NON-CURRENT LIABILITIES
Long-term: 23 72,396,244,496 75,063,398,467 67,940,438,400
Employee benefits liability
Lease liability 9 1,989,525,730 - -
TOTAL LIABILITIES 209,683,140,222 220,983,822,452 178,394,836,823
EQUITY
Share capital - with par value of
Rp 100 per share
Authorized - 2,000,000 shares
Issued and fully paid
- 520,160,000 shares 15 52,016,000,000 52,016,000,000 52,016,000,000
Additional paid-in capital - net 1,954,630,221 1,954,630,221 1,954,630,221
Retained earnings
Appropriated 10,018,000,000 9,968,000,000 9,918,000,000
Unappropriated 410,826,108,038 401,884,095,313 406,069,774,016
Total Equity 474,814,738,259 465,822,725,534 469,958,404,237
TOTAL LIABILITIES AND EQUITY 684,497,878,481 686,806,547,986 648,353,241,060
2

AND ITS SUBSIDIARY
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
For the Year Ended December 31, 2022
(Express in Rupiah, unless otherwise stated)
2021
(as restated
Notes 2022 Note 31)
NET SALES 19,26 408,811,497,547 300,280,285,514
COST OF GOODS SOLD 20,26 261,709,423,619 (198,452,832,964 )
GROSS PROFIT 147,102,073,928 101,827,452,550
OPERATING EXPENSES 21
General and administrative (110,040,745,795 ) (79,152,745,924 )
Selling and marketing (32,911,593,263 ) (32,094,511,706 )
Total Operating Expenses (142,952,339,058 ) (111,247,257,630 )

OPERATING INCOME (LOSS) 4,149,734,870 (9,419,805,080 )
Other Income (Expense)

Interest income 2,274,096,846 2,685,081,951
Interest expense (1,304,938,253 ) (1,510,473,718 )
Other income – net 22 2,375,150,224 6,868,982,082
Other Income - Net 3,344,308,817 8,043,590,315
INCOME (LOSS) BEFORE INCOME TAX 7,494,043,687 (1,376,214,765 )
INCOME TAX EXPENSE - NET 12 (5,179,680,928 ) (7,361,474,890 )
PROFIT (LOSS) FOR THE YEAR 2,314,362,759 (8,737,689,655 )
OTHER COMPREHENSIVE INCOME

Item that will not be reclassified
to profit or loss in subsequent period:
Remeasurement of employee
benefits liability 23 8,561,089,700 5,158,719,654
Related income tax 12 (1,883,439,734 ) (556,708,702 )
Other comprehensive income

- net of tax 6,677,649,966 4,602,010,952
TOTAL COMPREHENSIVE INCOME

(LOSS) 8,992,012,725 (4,135,678,703 )
BASIC EARNINGS (LOSS) PER SHARE 28 4 (17 )
3

AND ITS SUBSIDIARY
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
(Express in Rupiah, unless otherwise stated)
Issued and Additional Retained Earnings

Fully Paid Paid in Total
Notes Share Capital Capital - Net Appropriated Unappropriated Equity
Balance as of
January 1, 2021/ 52,016,000,000 1,954,630,221 9,918,000,000 379,252,821,512 443,141,451,733
(as previously reported)
Restatement relating to
Adoption of PSAK 24 31 - - - 26,816,952,504 26,816,952,504
Balance as of January 1,
2021 (as restated) 31 52,016,000,000 1,954,630,221 9,918,000,000 406,069,774,016 469,958,404,237
Formation of general
reverse - - 50,000,000 (50,000,000 ) -
Loss for the year - - - (8,737,689,655 ) (8,737,689,655 )
Other comprehensive
income:
Remeasurement of
estimated liability for
employee benefits 23 - - - 5,158,719,654 5,158,719,654
Related income tax 12 - - - (556,708,702 ) (556,708,702 )
Balance as of
December 31, 2021 52,016,000,000 1,954,630,221 9,968,000,000 401,884,095,313 465,822,725,534
Formation of general
reverse - - 50,000,000 (50,000,000 ) -
Profit for the year - - - 2,314,362,759 2,314,362,759
Other comprehensive
income:
Remeasurement of
estimated liability for
employee benefits 23 - - - 8,561,089,700 8,561,089,700
Related income tax 12 - - - (1,883,439,734 ) (1,883,439,734 )
Balance as of
December 31, 2022 52,016,000,000 1,954,630,221 10,018,000,000 410,826,108,038 474,814,738,259
4

AND ITS SUBSIDIARY
CONSOLIDATED STATEMENT OF CASH FLOWS
Notes 2022 2021
CASH FLOWS FROM OPERATING

ACTIVITIES
Cash received from customers 387,813,993,206 323,444,535,470
Cash paid to suppliers and operational
expenses (275,081,459,318 ) (203,339,447,321 )
Cash paid to employees (151,287,459,526 ) (132,465,435,562 )
Cash generated from (used in) operations (38,554,925,638 ) (12,360,347,413 )

Receipts from:
Interest income 2,274,096,846 2,685,081,950
Rental income 394,200,000 394,200,000
Payments for:
Interest expense (1,304,938,253 ) (1,510,473,718 )
Income tax (5,118,549,178 ) (542,148,063 )
Other income (55,135,000 ) (214,033,434 )
Net Used in Operating

Activities (42,365,251,223 ) (11,547,720,678 )
CASH FLOWS FROM INVESTING

ACTIVITIES
Proceeds from sale of property, plant
and equipment 8 69,050,000 146,450,000
Acquisition of property, plant
and equipment 8 (4,278,207,500 ) (1,009,061,936 )
Receipt from withdrawal of time deposits (6,591,223,094 ) (17,017,839,201 )
Net Cash Used in Investing Activities (10,800,380,594 ) (17,880,451,137 )
CASH FLOWS FROM FINANCING

ACTIVITY
Payment of principal portion of
lease liabilities 9, 31 (720,000,000 ) (853,000,000 )
NET DECREASE IN CASH AND CASH

EQUIVALENTS (53,885,631,817 ) (30,281,171,815 )
CASH AND CASH EQUIVALENTS

AT BEGINNING OF YEAR 99,398,874,411 129,156,773,909
EXCHANGE DIFFERENCE ON CASH

AND CASH EQUIVALENTS 1,794,158,339 523,272,317
CASH AND CASH EQUIVALENTS

AT END OF YEAR 4 47,307,400,933 99,398,874,411
5

AND ITS SUBSIDIARY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
1. GENERAL
a. Establishment of the Company
PT Lion Metal Works (the “Company”) was established in Indonesia within the framework of the
Foreign Capital Investment Law No. 1 of 1967 juncto No. 11 of 1970 (the latest was changed
to Law No. 25 Year 2007) based on Notarial Deed No. 21 dated August 16, 1972 of Drs. Gede
Ngurah Rai, S.H., as amended by Notarial Deed No. 1 dated June 2, 1973 and No. 9 dated
November 11, 1974 of the same Notary. The Deed of Establishment and the amendments were
published in Supplement No. 215 of State Gazette No. 34 dated April 29, 1975. The Company's
Articles of Association have been amended several times, amendments to the Notarial Deed of
Fathiah Helmi, S.H., No. 5 dated June 4 2015, the receipt of notification of amendments to the
Articles of Association has been received and recorded in the database of the Legal Entity
Administration System of the Ministry of Law and Human Rights of the Republic of Indonesia
as stated in letter no. AHU-AH.01.03-0947462 dated July 1, 2015, which has received approval
from the Minister of Law and Human Rights of the Republic of Indonesia No. AHU-
0938633.AH.01.02 of 2015 dated July 3, 2015. The latest amendment to the articles of
association is contained in deed No. 40 dated August 25, 2021 made by Notary Fathiah Helmi,
S.H., whose receipt of notification of amendments to the Articles of Association has been
received and recorded in the database of the Legal Entity Administration system of the Ministry
of Law and Human Rights of the Republic of Indonesia in letter No. AHU.AH.01.03-0460654
dated October 14, 2021.
According to Article 3 of the Company’s Articles of Association, the Company’s objectives and
scope of activities is to engage in industry and trading from metals such as:
a. Metal furniture industry

b. Safe industry, office filing and the like
c. Manufacture of non-aluminum metal goods ready to install for buildings
d. Manufacture of ready-to-assemble metal goods for other construction
e. Manufacture of goods made of aluminum metal ready to install for buildings
f. Furniture industry for surgery, medical care and dentistry
g. Electrical building construction
h. Mechanical installation
i. Interior decoration
j. Installation of the roof / roof covering
k. Lifting and moving equipment industry
l. Wire goods industry
m. Wholesale of machinery, equipment and other supplies
n. Wholesale of metal goods for construction materials
o. Wholesale trade on a fee or contract basis
The Company started its commercial operations in 1974.
The Company’s corporate office is located at Km. 24.5, Jalan Raya Bekasi, Cakung, East
Jakarta.
6

AND ITS SUBSIDIARY
1. GENERAL (continued)
b. Company’s public offerings
In 1993, the Company made its initial public offering of its 3,000,000 shares. After the
distribution of 3,251,000 share dividends, 3,251,000 bonus shares, and the Company’s First
Limited Public Offering of Rights for a total number of 32,510,000 shares in 1996, the total
number of its shares listed on the stock exchange in Indonesia increased to 520,016,000 shares
(including the 10,004,000 shares outstanding prior to the public offering).
c. Consolidated subsidiary
The Company has more than 50% equity ownership in its subsidiary, with details as follows:
Total assets before elimination

Start
Percentage of commercial
Subsidiary Location Principal Activity ownership operation 2022 2021
2022 2021
Under
PT Singa Purwakarta Jaya Purwakarta Industrial estate 99.99% 99.99% development 116,560,099,238 118,639,287,236
stage
d. Employees, Boards of Commissioners and Directors and Audit Committee
As of December 31, 2022 and 2021, the members of the Boards of Commissioners and
Directors based on a resolution of the Company’s Annual Stockholders’ General Meetings held
on July 15, 2022 and August 25, 2021, respectively are as follows:
Board of Commissioners
President Commissioner : Cheng Yong Kwang
Commissioner : Lee Whay Keong
Independent Commissioner : Kalistus Decimus Deke Making
Board of Directors :
President Director : Cheng Yong Kim
Director : Lim Tai Pong
Director : Ir. Krisant Sophiaan
Director : Tjoe Tjoe Peng (Lawer Supendi)
Director : Cheng Zhi Wei
Audit Committee
Chairman : Kalistus Decimus Deke Making
Member : Shelly, SE
Member : Kenny Jesusanto, SE
As of December 31, 2022 and 2021, the Company and its Subsidiary have 753 and 785
employees, respectively (unaudited).
7

AND ITS SUBSIDIARY
1. GENERAL (continued)
e. Completion of the consolidated financial statements

Management is responsible for the preparation and fair presentation of these consolidated
financial statements, in accordance with Indonesian Financial Accounting Standards, which
were completed and authorized for issuance by the Company’s Directors on March 28, 2023.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a. Basis of preparation of consolidated financial statements
The consolidated financial statements of PT Lion Metal Works Tbk and its Subsidiary have
been prepared in accordance with Indonesian Financial Accounting Standards (“SAK”), which
comprise the Statement of Financial Accounting Standards (“PSAK”) and Interpretations of
Statement of Financial Accounting Standard (“ISAK”) issued by the Financial Accounting
Standards Board of the Indonesian Institute of Accountants (“DSAK-IAI”) and regulations of
capital market regulator for entities under its control.
The accounting policies adopted in the preparation of the consolidated financial statements are
consistent with those made in the preparation of the Company and its Subsidiary’s consolidated
financial statements for the year ended December 31, 2021, except for the adoption of several
amended SAKs. As disclosed further in the relevant succeeding Notes, several amended and
published accounting standards were adopted effective January 1, 2022.
The Company and Its Subsidiary has prepared the consolidated financial statements on the
basis that it will continue to operate as a going concern.
The consolidated financial statements, except for the consolidated statement of cash flows,
have been prepared on the accrual basis using the historical cost basis of accounting, except
for certain accounts which are measured on the bases described in the related accounting
policies for those accounts.
The consolidated statement of cash flows is prepared based on the direct method by classifying
cash flows on the basis of operating, investing, and financing activities.
The presentation currency used in the preparation of the consolidated financial statements is
the Indonesian Rupiah, which is the Company and its Subsidiary’s functional currency.
Figures in the consolidated financial statements are rounded to and stated in Rupiah (“Rp”),
unless otherwise specified.
In order to provide further understanding of the financial performance of the Company and its
Subsidiary, due to the significance of their nature or amount, several items of income or
expense have been shown separately.
b. Amendments to standards effective in the current year
In the current year, the Company and Its Subsidiary has applied a number of amendments/
improvements to PSAK that are relevant to its operations and effective for accounting period
beginning on or after January 1, 2022. The adoption of these revised PSAKs does not result in
changes to the Company and Its Subsidiary’s accounting policies and has no material effect on
the amounts reported for the current or prior years.
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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
b. Amendments to standards effective in the current year (continued)
- PSAK 73 (Amendment), “Leases”: Covid-19-related lease concession beyond June

30, 2021
The amendment extends the availability of the practical expedient for Covid-19 related lease
concessions for which any reduction in lease payments affects only payments originally due
on or before June 30, 2022.
- PSAK 22 (Amendment), “Business Combinations”: References to the Conceptual

Framework
This PSAK 22 amendment clarifies the interaction between PSAK 22, PSAK 57, ISAK 30
and the Conceptual Framework for Financial Reporting without changing the accounting
requirements for business combinations.
- PSAK 71 (2020 Annual Improvements), “Financial Instruments”
PSAK 71 (2020 Annual Improvements) clarifies fee recognized by the borrower in relation
to derecognition of financial liabilities. In determining the fee to be paid after deducting the
fee received, entity includes only fees paid or received between the entity (the borrower) and
the lender, including fees paid or received by either the entity or the lender on the other’s
behalf.
- PSAK 73 (2020 Annual Improvements), “Leases”
PSAK 73 (2020 Annual Improvements) removes from the example the illustration of the
reimbursement of leasehold improvements by the lessor in order to resolve any potential
confusion regarding the treatment of lease incentives that might arise because of how lease
incentives are illustrated in that example.
c. Amendments/improvements to standards issued not yet adopted
At the date of authorization of these consolidated financial statements, the following

amendments/improvements to PSAK relevant to the Company and its subsidiary were issued
but not effective, with early application permitted:
Effective for periods beginning on or after January 1, 2023
• PSAK 1 (Amendment), “Presentation of Financial Statements”: Classification of Liabilities

as Current or Non-current
The narrow-scope amendments to PSAK 1, “Presentation of Financial Statements” clarify

that liabilities are classified as either current or non-current, depending on the rights that
exist at the end of the reporting period. Classification is unaffected by the expectations of
the entity or events after the reporting date (e.g the receipt of a waiver or a breach of
covenant). The amendments also clarify what PSAK 1 means when it refers to the
‘settlement’ of a liability.
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c. Amendments/improvements to standards issued not yet adopted (continued)
Effective for periods beginning on or after January 1, 2023 (continued)
• PSAK 1 (Amendment), “Presentation of Financial Statements”: Classification of Liabilities

as Current or Non-current (continued)
The amendments could affect the classification of liabilities, particularly for entities that
previously considered management’s intentions to determine classification and for some
liabilities that can be converted into equity.
• PSAK 1 (Amendment), “Presentation of Financial Statements”: Disclosure of Accounting

Policies
This amendment provides guidance and examples to help entities apply materiality
judgments to accounting policy disclosures. The amendment aims to help entities provide
accounting policy disclosures that are more useful by replacing the requirement for entities
to disclose their ‘significant’ accounting policies with a requirement to disclose their
‘material’ accounting policies and adding guidance on how entities apply the concept of
materiality in making decisions about accounting policy disclosures.
• PSAK 16 (Amendment), “Property, Plant and Equipment”: Proceeds before Intended Use
The amendments prohibit an entity from deducting from the cost of a property, plant and
equipment the proceeds received from selling items produced by the property, plant and
equipment before it is ready for its intended use. The sales proceeds would have met the
revenue definition and therefore should be recognized in profit or loss.
• PSAK 25 (Amendment), “Accounting Policies, Changes in Accounting Estimates and

Errors”: Definition of Accounting Estimates
The amendment introduces a definition of ‘accounting estimates’ and clarify the distinction
between changes in accounting estimates and changes in accounting policies and the
correction of errors. Also, they clarify how entities use measurement techniques and inputs
to develop accounting estimates.
• PSAK 46 (Amendment), “Income Taxes”: Deferred Tax related to Assets and Liabilities
arising from a Single Transaction
This amendment proposes that entities recognize deferred tax assets and liabilities at the
time of initial recognition, for example from a lease transaction, to eliminate differences in
current practice for such transactions and similar transactions.
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c. Amendments/improvements to standards issued not yet adopted (continued)
Effective for periods beginning on or after January 1, 2024
• PSAK 1 (Amendment), “Presentation of Financial Statements”: Non-current Liabilities with

Covenants
In this amendment, long-term liabilities with covenants are presented as current or non-
current liabilities depending on whether or not there is a right to defer settlement of the
liability. Covenants in this case are divided into covenants that affect and do not affect the
right to defer settlement of liabilities for at least 12 months after the reporting period.
• PSAK 73 (Amendment), “Lease”: Lease Liability in a Sale and Leaseback
This amendment provides clarification of the subsequent measurement of right-of-use

assets and lease liabilities from sale and leaseback transactions. The seller-lessee
measures the lease liability in such a manner that it does not recognize any amount of the
gain or loss that relates to the right of use retained.
As at the issuance date of the consolidated financial statements, the effects of adopting these
standard and amendments on the consolidated financial statements are not known nor
reasonably estimable by management.
d. Current and non-current classification
The Company and its Subsidiary presents assets and liabilities in the statement of financial
position based on current/non-current classification. An asset is current when it is:
i) expected to be realised or intended to be sold or consumed in the normal operating cycle,
ii) held primarily for the purpose of trading,
iii) expected to be realised within 12 months after the reporting period, or cash or cash
equivalent unless restricted from being exchanged or used to settle a liability for at least 12
months after the reporting period.
All other assets are classified as non-current.
A liability is current when it is:

i) expected to be settled in the normal operating cycle,
ii) held primarily for the purpose of trading,
iii) due to be settled within twelve months after the reporting period, or
iv) there is no unconditional right to defer the settlement of the liability for at least twelve
months after the reporting period.
All other liabilities are classified as non-current.
Deferred tax assets and liabilities are classified as non-current assets and liabilities.
e. Principles of consolidation
The consolidated financial statements incorporate the financial statements of the Company and
its Subsidiary in which the Company has the ability to directly or indirectly exercise control.
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e. Principles of consolidation (continued)
The financial statements of the Subsidiary are prepared for the same reporting period as the
Parent Company. The accounting policies adopted in preparing the consolidated financial
statements have been consistently applied by the Company and its Subsidiary, unless
otherwise stated.
Subsidiary are fully consolidated from the date of acquisition, being the date on which the
company obtains control, and continue to be consolidated until the date when such control
ceases. Control is presumed to exist if the company owns, directly or indirectly through
Subsidiary, more than half of the voting power of an entity.
Specifically, the Company controls an investee if and only if the Company has:
a. Power over the investee (i.e., existing rights that give it the current ability to direct the
relevant activities of the investee).
b. Exposure, or rights, to variable returns from its involvement with the investee, and
c. The ability to use its power over the investee to affect its returns.
When the Company has less than a majority of the voting or similar right of an investee, the
Company considers all relevant facts and circumstances in assessing whether it has power
over an investee, including:
a. The contractual arrangement with the other vote holders of the investee.
b. Rights arising from other contractual arrangements.
c. The Company’s voting rights and potential voting rights.
The Company re-assesses whether or not it controls an investee if facts and circumstances
indicate that there are changes to one or more of the three elements of control. Consolidation
of a subsidiary begins when the Company obtains control over the subsidiary and ceases when
the Company loses control of the Subsidiary. Assets, liabilities, income and expenses of a
subsidiary acquired or disposed of during the period are included in the consolidated statement
of profit or loss and other comprehensive income from the date the Company gains control until
the date the Company ceases to control the Subsidiary.
Profit or loss and each component of other comprehensive income (OCI) are attributed to the
equity holders of the parent of the Company and to the non-controlling interest (“NCI”), even if
this results in the NCI having a deficit balance.
Inter-company transactions, balances, and unrealized gains and losses on transactions

between the Company and its Subsidiary are eliminated. All intra-group’s assets and liabilities,
equity, income, expenses and cash flows relating to transactions between Company and its
Subsidiary are also eliminated in full on consolidation. When necessary, adjustments are made
to the financial statements of Subsidiary to bring their accounting policies in line with the
Company’s accounting policies.
Transactions with NCI that do not result in loss of control are accounted for as equity
transactions. The difference between the fair value of any consideration paid and the relevant
share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains
or losses on disposals to NCI are also recorded in equity.
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e. Principles of consolidation (continued)
A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as
an equity transaction. If the Company loses control over a subsidiary, it:
a. derecognizes the assets (including goodwill) and liabilities of the Subsidiary;

b. derecognizes the carrying amount of any NCI;
c. derecognizes the cumulative translation differences, recorded in equity, if any;
d. recognizes the fair value of the consideration received;
e. recognizes the fair value of any investment retained;
f. recognizes any surplus or deficit in profit or loss; and
g. reclassifies the parent’s share of components previously recognized in OCI to profit or loss
or retained earnings, as appropriate, as would be required if the Company had directly
disposed of the related assets or liabilities.
NCI represents the portion of the profit or loss and net assets of the Subsidiary not attributable
directly or indirectly to the Company, which are presented in the consolidated statement of profit
or loss and other comprehensive income and under the equity section of the consolidated
statement of financial position, respectively, separately from the corresponding portion
attributable to the owners of the parent entity.
f. Cash and cash equivalents
Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-
term highly liquid investments with original maturities of three months or less, and are not
pledged as collateral and unrestricted.
g. Financial instruments
The Company and its Subsidiary classify financial instruments into financial assets and financial
liabilities. A financial instrument is any contract that gives rise to a financial asset of one entity
and a financial liability or equity instrument of another entity.
Classification
i. Financial assets
Financial assets are classified, at initial recognition, and subsequently measured at

(i) amortized cost, (iii) fair value through profit or loss (“FVTPL”), or (iii) fair value through
OCI (“FVTOCI”).
The Company and its Subsidiary measures financial assets at amortized cost if both of the
following conditions are met:
• The financial asset is held within a business model with the objective to hold financial
assets in order to collect contractual cash flows; and
• The contractual terms of the financial asset give rise on specified dates to cash flows that
are solely payments of principal and interest on the principal amount outstanding.
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g. Financial instruments (continued)
Classification (continued)
i. Financial assets (continued)
In order for a financial asset to be classified and measured at amortized cost or FVOCI, it
needs to give rise to cash flows that are solely payments of principal and interest on the
principal amount outstanding. This assessment is referred to as solely payments of principal
and interest (SPPI) testing and it is performed at instrument level.
The Company and its Subsidiary’s business model for managing financial assets refers to
how it manages its financial assets in order to generate cash flows. The business model
determines whether cash flows will result from collecting contractual cash flows, selling the
financial assets, or both.
The Company and its Subsidiary’s financial assets consist of cash and cash equivalents,
time deposits, trade receivables, employee receivables, restricted time deposits and other
receivables classified as financial assets at amortized cost. The Company and its
Subsidiary have no financial assets measured at fair value through profit or loss and through
other comprehensive income.
ii. Financial liabilities
The Company and its Subsidiary classify its financial liabilities as: (i) financial liabilities at
FVTPL or (ii) financial liabilities measured at amortized cost.
The Company and its Subsidiary’s financial liabilities consist of bank loans, trade payables,
accrued expenses, dividend payables, and lease liabilities classified as financial liabilities
at amortized cost. The Company and its Subsidiary have no financial liabilities measured
at fair value through profit or loss.
Recognition and Measurement
i. Financial assets
Financial assets and financial liabilities are initially measured at fair value. Transaction
costs that are directly attributable to the acquisition or issue of financial assets and financial
liabilities are added to or deducted from the fair value of the financial assets and financial
liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the
acquisition of financial assets or financial liabilities at fair value through profit or loss are
recognized immediately in profit or loss.
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Recognition and Measurement (continued)
i. Financial assets (continued)
Purchases or sales of financial assets that require delivery of assets within a time frame
established by regulation or convention in the marketplace (regular way trades) are
recognized on the trade date, i.e., the date that the Group commits to buy or sell the asset.
The Company and its Subsidiary’s business model for managing financial assets refers to
how it manages its financial assets in order to generate cash flows. The business model
determines whether cash flows will result from collecting contractual cash flows, selling the
financial assets, or both.
Purchases or sales of financial assets that require delivery of assets within a time frame
established by regulation or convention in the marketplace (regular way trades) are
recognized on the trade date, i.e., the date that the Company and its Subsidiary commit to
buy or sell the asset.
All recognized financial assets are measured subsequently in their entirety at either
amortized cost or fair value, depending on the classification of the financial assets as
follows. All the Company and its Subsidiary’s financial assets are classified as financial
assets at amortized cost (debt instruments).
Financial assets at amortized cost are subsequently measured using the effective interest
method and are subject to impairment. Gains and losses are recognized in profit or loss
when the asset is derecognized, modified or impaired. The calculation takes into account
any premium or discount on acquisition and includes transaction costs and fees that are an
integral part of the effective interest rate.
Financial liabilities that are not 1) contingent consideration of an acquirer in a business

combination, 2) held-for-trading, or 3) designated as at FVTPL, are subsequently measured
at amortized cost using the effective interest method. All the Group’s financial liabilities are
classified as financial liabilities at amortized cost.
Effective Interest Method
Effective interest method is a method of calculating the amortized cost of a financial liability and
of allocating interest expense over the relevant period. The effective interest rate is the rate that
exactly discounts estimated future cash payments (including all fees and points paid or received
that form an integral part of the effective interest rate, transaction costs and other premiums or
discounts) through the expected life of the financial liability, or (where appropriate) a shorter
period to the net carrying amount on initial recognition.
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Offsetting of Financial Instruments

Financial assets and financial liabilities are offset and the net amount reported in the
consolidated statement of financial position if, and only if, there is a currently enforceable legal
right to offset the recognized amounts and there is an intention to settle on a net basis, or to
realize the assets and settle the liabilities simultaneously.
Impairment of financial assets
The Company and its Subsidiary recognize an allowance for expected credit losses (“ECL”) for
all debt instruments not held at FVTPL. ECL are based on the difference between the
contractual cash flows due in accordance with the contract and all the cash flows that the
Company and its Subsidiary expects to receive, discounted at an approximation of the original
effective interest rate. The expected cash flows will include cash flows from the sale of collateral
held or other credit enhancements that are integral to the contractual terms.
ECL are recognized in two stages. For credit exposures for which there has not been a
significant increase in credit risk since initial recognition, ECL are provided for credit losses that
result from default events that are possible within the next 12-months (a 12-month ECL). For
those credit exposures for which there has been a significant increase in credit risk since initial
recognition, a loss allowance is required for credit losses expected over the remaining life of
the exposure, irrespective of the timing of the default (a lifetime ECL).
For trade receivables, the Company and its Subsidiary apply a simplified approach in
calculating ECL. Therefore, the Company and its Subsidiary do not track changes in credit risk,
but instead recognizes a loss allowance based on lifetime ECL at each reporting date. The
Company and its Subsidiary have established a provision matrix that is based on its historical
credit loss experience, adjusted for forward-looking factors specific to the debtors and the
economic environment.
The Company and its Subsidiary consider a financial asset in default when contractual
payments are 1 year past due. However, in certain cases, the Company and its Subsidiary may
also consider a financial asset to be in default when internal or external information indicates
that the Company and its Subsidiary is unlikely to receive the outstanding contractual amounts
in full before taking into account any credit enhancements held by the Company and its
Subsidiary. Trade receivables is written off when there is low possibility of recovering the
contractual cash flow, after all collection efforts have been done and have been fully provided
for allowance.
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Derecognition
i. Financial assets
A financial asset, or where applicable a part of a financial asset or part of a group of similar
financial assets, is derecognized when:
(a) the contractual rights to receive cash flows from the financial asset have expired; or
(b) the Company and its Subsidiary has transferred its contractual rights to receive cash
flows from the financial asset or has assumed an obligation to pay them in full without
material delay to a third party under a “pass-through” arrangement and either (i) has
transferred substantially all the risks and rewards of the financial asset, or (ii) has
neither transferred nor retained substantially all the risks and rewards of the financial
asset, but has transferred control of the financial asset.
When the Company and its Subsidiary have transferred its rights to receive cash flows from
an asset or has entered into a pass-through arrangement, and has neither transferred nor
retained substantially all of the risks and rewards of the asset nor transferred control of the
asset, the asset is recognized to the extent of the Company and its Subsidiary’s continuing
involvement in the asset.
Continuing involvement that takes the form of a guarantee over the transferred asset is
measured at the lower of the original carrying amount of the asset and the maximum
amount of consideration that the Company and its Subsidiary could be required to repay.
In that case, the Company and its Subsidiary also recognizes an associated liability. The
transferred asset and the associated liability are measured on a basis that reflects the rights
and obligations that the Company and its Subsidiary has retained.
On derecognition of a financial asset in its entirety, the difference between the carrying
amount and the sum of (i) the consideration received, including any new asset obtained
less any new liability assumed; and (ii) any cumulative gain or loss that had been
recognized in other comprehensive income is recognized to profit or loss.
A financial liability is derecognized when the obligation specified in the contract is

discharged or canceled or expired.
When an existing financial liability is replaced by another from the same lender on
substantially different terms, or the terms of an existing liability are substantially modified,
such an exchange or modification is treated as a derecognition of the original liability and
the recognition of a new liability, and the difference in the respective carrying amounts is
recognized in profit or loss.
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h. Foreign currency transactions and balances translation
The accounting records of the Company and its Subsidiary are maintained in Rupiah.
Transactions denominated in foreign currencies are translated into Rupiah at the exchange
rates prevailing at the dates of the transactions. At the end of the reporting period, monetary
assets and liabilities denominated in foreign currencies are translated into Rupiah using the
middle rates of exchange quoted by Bank Indonesia at such dates. Exchange gains and losses
arising on foreign currency transactions and from the translation of foreign currency monetary
assets and liabilities into Rupiah are recognized in profit or loss.
The exchange rates used as of December 31, 2022 and 2021 are as follows:
2022 2021
United States Dollar 1 15,731 14,269
i. Transactions with related parties

A related party is a person or entity that is related to the Company and its Subsidiary:
a. A person or a close member of that person's family is related to the Company and its
Subsidiary if that person:
(i) has control or joint control over the Company and its Subsidiary;
(ii) has significant influence over the Company and its Subsidiary; or,
(iii) is a member of the key management personnel of the Company and its Subsidiary or
of a parent of the Company and its Subsidiary.
b. An entity is related to the Company and its Subsidiary if any of the following conditions
applies:
(i) the entity and the Company and its Subsidiary are members of the same group (which
means that each parent, subsidiary and fellow subsidiary is related to the others).
(ii) one entity is an associate or joint venture of the other entity (or an associate or joint
venture of a member of a group of which the other entity is a member).
(iii) both entities are joint ventures of the same third party.
(iv) one entity is a joint venture of a third entity and the other entity is an associate of the
third entity.
(v) the entity is a post-employment defined benefit plan for the benefit of employees of
either the Company and its Subsidiary or an entity related to the Company and its
Subsidiary.
(vi) the entity is controlled or jointly controlled by a person identified in a).
(vi) a person identified in a) i) has significant influence over the entity or is a member of the
key management personnel of the entity (or of a parent of the entity).
(viii)the entity, or any member of a group of which it is a part, provides key management
personnel services to the Company and its Subsidiary or to the parent of the Company
and its Subsidiary.
The transactions are made based on terms agreed by the parties. Such terms may not be the
same as those of the transactions between unrelated parties.
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i. Transactions with related parties (continued)

All significant transactions and balances with related parties are disclosed in the relevant Notes
herein.
j. Inventories
Inventories are valued at the lower of cost and net realizable value. Cost is determined using
the first-in, first-out (“FIFO”) method. The cost of finished goods and work in progress comprises
raw materials, direct labor, other direct costs and related production overheads (based on
normal operating capacity). It excludes borrowing costs.
Net realizable value is the estimated selling price in the ordinary course of business, less
estimated costs of completion and the estimated costs necessary to make the sale.
Allowance for inventory obsolescence and decline in the value of inventories, if any, is provided
to reduce the carrying value of inventories to their net realizable value based on the review of
the condition of inventories at the end of the year.
k. Prepaid expenses
Prepaid expenses are charged to operations over the periods benefit using the straight-line
method.
l. Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and any
impairment loss. Such cost includes the cost of replacing part of the property, plant and
equipment when the cost is incurred, if the recognition criteria are met. Likewise, when a major
inspection is performed, its cost is recognized in the carrying amount of the assets as a
replacement if the recognition criteria are met. All other repairs and maintenance costs that do
not meet the recognition criteria are recognized in profit or loss as incurred.
Depreciation is computed as follows:
Method Rate (%)
Machinery and equipment Double - declining balance 25

Office and factory equipment Double - declining balance 25
Motor vehicles Double - declining balance 50
Electrical installations Double - declining balance 5
Buildings and improvements Straight line method 5
Land is stated at cost and not depreciated.
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l. Property, plant and equipment (continued)
Upon adoption of PSAK 73, the Company and its Subsidiary analyzes the facts and
circumstances for each type of land rights in determining the accounting for each of these land
rights so that it can accurately represent an underlying economic event or transaction. If the
land rights do not transfer control of the underlying assets to the Company and its Subsidiary,
but gives the rights to use the underlying assets, the Company and its Subsidiary applies the
accounting treatment of these transactions as leases under PSAK 73, “Leases”. If land rights
are substantially similar to land purchases, the Company and its Subsidiary applies PSAK 16,
“Property, plant and equipment”.
The carrying value of property, plant and equipment is derecognized upon disposal or when no
future economic benefits are expected from its use. Any gain or loss arising on derecognition
of the assets is charged to profit or loss in the year the assets is derecognized.
The residual values, estimated useful lives, and depreciation method are reviewed and
adjusted, at year end, if necessary.
The Subsidiary owns property that is leased to and used by the parent entity. The property does
not qualify as an investment property in the consolidated financial statements, because the
property is owner-occupied from the perspective of the group. However, from the perspective
of the entity that owns it, the property is an investment property. Therefore, the Subsidiary treats
the property as an investment property in its individual financial statements.
The Subsidiary’s land and buildings that are leased to the parent entity are classified as
property, plant and equipment in the consolidated financial statements.
m. Investment properties
Investment properties are stated at cost including transaction cost less accumulated
depreciation and impairment loss, if any, except for land which is not depreciated. Such cost
includes the cost of replacing part of the investment properties, if the recognition criteria are
met, and excludes the daily expenses on their usage.
Investment properties consist of land held by Subsidiary to earn rentals or for capital
appreciation or both, rather than for use in the production or supply of goods or services or for
administrative purposes or sale in the ordinary course of business.
An investment property should be derecognized upon disposal or when the investment property
is permanently withdrawn from use and no future economic benefits are expected from its
disposal. Gains or losses arising from the retirement or disposal of an investment property is
credited or charged to operations in the year the asset is derecognized.
Transfers to investment properties should be made when, and only when, there is a change in
use, evidenced by the end of investment property is measured initially at its cost, including
related transaction costs and where applicable borrowing costs. Owner-occupation,
commencement of an operating lease to another party or end of construction or development.
Transfers from investment properties should be made when, and only when, there is a change
in use, evidenced by the commencement of owner-occupation or commencement of
development with a view to sell.
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m. Investment properties (continued)

For a transfer from investment properties to owner-occupied property, the Company and its
Subsidiary uses the cost method at the date of change in use. If an owner-occupied property
becomes an investment property, the Company and its Subsidiary shall record the investment
property in accordance with the property, plant and equipment policies up to the date of change
in use.
n. Impairment of non-financial assets
The Company and its Subsidiary assess at each reporting period whether there is an indication
that an asset may be impaired. If any such indication exists, or when annual impairment testing
for an asset is required, the Company and its Subsidiary make an estimate of the asset’s
recoverable amount.
Impairment losses are recognized in the current year’s profit or loss.
An impairment loss is reversed if there has been a change in the estimate used to determine
the recoverable amount of a non-financial asset. An impairment loss is only reversed to the
extent that the non-financial asset’s carrying amount does not exceed the recoverable amount,
nor exceed the carrying amount that would have been determined, net of depreciation or
amortization, if no impairment loss of non-financial assets has been recognized. Reversal of
an impairment loss is recognized in the profit or loss.
o. Leases
As lessee
The Company and its Subsidiary assess whether a contract is or contains a lease, at the
inception of the contract. The Company and its Subsidiary recognizes a right-of-use asset and
a corresponding lease liability with respect to all lease arrangements in which it is the lessee,
except for short-term leases (defined as leases with a lease term of 12 months or less) and
leases of low value assets. For these leases, the Company and its Subsidiary recognize the
lease payments as an operating expense on a straight-line basis over the term of the lease
unless another systematic basis is more representative of the time pattern in which economic
benefits from the leased assets are consumed.
The lease liability is initially measured at the present value of the lease payments that are not
paid at the commencement date, discounted by using the rate implicit in the lease. If this rate
cannot be readily determined, the Company and its Subsidiary use the incremental borrowing
rate specific to the lessee.
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o. Leases (continued)
Lease payments included in the measurement of the lease liability comprise:
• fixed lease payments (including in-substance fixed payments), less any lease incentives;
• variable lease payments that depend on an index or rate, initially measured using the index
or rate at the commencement date;
• the amount expected to be payable by the lessee under residual value guarantees;
• the exercise price of purchase options, if the lessee is reasonably certain to exercise the
options; and
• payments of penalties for terminating the lease, if the lease term reflects the exercise of an
option to terminate the lease.
The lease liability is presented as a separate line in the consolidated statement of financial
position.
The lease liability is subsequently measured by increasing the carrying amount to reflect the
interest on the lease liability (using the effective interest method) and by reducing the carrying
amount to reflect the lease payments made.
Each lease payment is allocated between the liability and finance cost. The finance cost is
charged to profit or loss over the lease period so as to produce a constant periodic rate of
interest on the remaining balance of the liability for each period.
The Company and its Subsidiary remeasure the lease liability (and makes a corresponding
adjustment to the related right-of-use assets) whenever:
• the lease term has changed or there is a change in the assessment of the exercise of a
purchase option, in which case the lease liability is remeasured by discounting the revised
lease payments using a revised discount rate;
• the lease payments change due to changes in an index or rate or a change in expected
payment under a guaranteed residual value, in which cases the lease liability is remeasured
by discounting the revised lease payments using the initial discount rate (unless the lease
payments change is due to a change in a floating interest rate, in which case a revised
discount rate is used); or
• a lease contract is modified and the lease modification is not accounted for as a separate
lease, in which case the lease liability is remeasured by discounting the revised lease
payments using a revised discount rate.
The right-of-use assets comprise the initial measurements of the corresponding lease liability,
lease payments made at or before the commencement day and any initial direct costs. They
are subsequently measured at cost less accumulated depreciation and impairment losses.
Whenever the Company incurs an obligation for costs to dismantle and remove a leased asset,
restore the site on which it is located or restore the underlying assets to the conditions required
by the terms and conditions of the lease, a provision is recognized and measured under PSAK
57. The costs are included in the related right-of-use asset, unless those costs are incurred to
produce inventories.
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o. Leases (continued)
Right-of-use assets are subsequently measured at cost less accumulated depreciation and
impairment losses. Right-of-use assets are depreciated on a straight-line basis over the shorter
of the lease term and the estimated useful lives of the assets, as follows:
Years
Office buildings 4
Right-of-use assets are depreciated over the shorter period of lease term and useful life of the
underlying assets. If a lease transfers ownership of the underlying assets or the cost of the
right-of-use assets reflects that of the Company expects to exercise a purchase option, the
related right-of-use asset is depreciated over the useful life of the underlying assets. The
depreciation starts at the commencement date of the lease.
The right-of-use assets are presented as a separate line in the consolidated statement of
financial position.
p. Employee benefits
Short-term employee benefits
Short term employee benefits are employee benefits which are due for payment within twelve
months after the reporting period and recognized when the employees have rendered this
related service. Liabilities are recognized when the employee renders services to the Company
where all changes in the carrying amount of the liability are recognized in profit or loss.
Defined benefit plan
The Company and its Subsidiary recognized unfunded employee benefits liability in accordance
with Government Regulation Number 35 Year 2021 (PP 35/2021) that implement the provisions
of Article 81 and Article 185 (b) of Law No. 11/2020 on Job Creation (Cipta Kerja) in 2021.
Pension costs under the Company and its Subsidiary’s defined benefit pension plans are
determined by periodic actuarial calculation using the projected-unit-credit method and applying
the assumptions on discount rate, return on plan assets and annual rate of increase in
compensation.
Remeasurement, comprising actuarial gains and losses, the effect of the changes to the asset
ceiling (if applicable) and the return on plan assets (excluding interest), is reflected immediately
in the consolidated statement of financial position with a charge or credit recognized in other
comprehensive income in the period in which they occur in order for the net pension asset or
liability recognized in the consolidated statement of financial position to reflect the full value of
the plan deficit and surplus. Remeasurement recognized in other comprehensive income is
reflected immediately in retained earnings and will not be reclassified to profit or loss.
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p. Employee benefits (continued)
All past service costs are recognized at the earlier of when the amendment or curtailment
occurs and when the related restructuring or termination costs are recognized.
Net interest is calculated by applying the discount rate to the net defined benefit liability or asset.
Defined benefit costs are categorized as follows:
• Service cost (including current service cost, past service cost, as well as gains and losses
on curtailments and settlements)
• Net interest expense or income
• Remeasurement
The Company and its Subsidiary present the first two components of defined benefit costs in
profit or loss. Curtailment gains and losses are accounted for as past service costs.
The retirement benefit obligation recognized in the consolidated statement of financial position
represents the actual deficit or surplus in the Company and its Subsidiary defined benefit plans.
Any surplus resulting from this calculation is limited to the present value of any economic
benefits available in the form of refunds from the plans or reductions in future contributions to
the plans.
Changes in Accounting Policy
In April 2022, the Institute of Indonesia Chartered Accountants’ Accounting Standard Board
(“DSAK IAI”) issued a press release regarding attribution of benefits to periods of service
in accordance with PSAK 24: Imbalan Kerja which was adopted from IAS 19 Employee
Benefits. The press release conveyed the information that the fact pattern of the pension
program based on the Labor Law currently enacted in Indonesia is similar to those responded
and concluded in the IFRS Interpretation Committee (“IFRIC”) Agenda Decision Attributing
Benefit to Periods of Service (IAS 19). The Company has adopted the said press release and
accordingly changed its accounting policy regarding attribution of benefits to periods of service
previously applied.
In prior years, the Company attribute benefits under the defined plan’s benefit formula to periods
of service from the date when employees provide their services until their retirement age.
Starting from April, 2022, based on the press release, the Company change the policy for
attributing benefits under the plan to the date when employee service first leads to benefits
under the plan until the date when further employee service will lead to no material amount of
further benefits under the plan.
q. Revenue and Expense Recognition
Revenue is measured based on the consideration to which the Company and its Subsidiary
expects to be entitled in a contract with a customer and excludes amounts collected on behalf
of third parties. The Company and its Subsidiary recognizes revenue when it transfers control
of a product or service to a customer.
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q. Revenue and Expense Recognition (continued)
Sales of goods
Revenue is recognized to the extent that it is probable that the economic benefits will flow to
the Company and the revenue can be reliably measured. Revenue is measured at the fair value
of the consideration received, excluding discounts, rebates and Value Added Taxes (“VAT”).
Revenue from domestic sales is recognized when the products are delivered to the customers,
while revenue from export sales is recognized when the products are shipped from the
warehouse (FOB shipping point).
Expenses
Expenses are recognized when incurred (accrual basis).
r. Income taxes
Income tax expense comprises current and deferred tax. Income tax expense is recognized in
profit or loss except to the extent that it relates to items recognized outside profit or loss, either
in other comprehensive income or directly in equity.
Current tax
Current tax expense is calculated using tax rates that have been enacted or substantively
enacted at the end of the reporting period, and is provided based on the estimated taxable
income for the year. Management periodically evaluates positions taken in tax returns with
respect to situations in which applicable tax regulation is subject to interpretation. It establishes
provision where appropriate on the basis of amounts expected to be paid to the tax authorities.
Underpayment or overpayment of corporate income tax are presented as part of current income
tax expense in the consolidated statement of profit or loss and other comprehensive income.
Amendments to tax obligations are recorded when a tax assessment letter is received. If the
Company and its Subsidiary files an appeal, the Company and its Subsidiary considers whether
it is probable that a taxation authority will accept the appeal and reflect its effect on the
Company’s tax obligations
Deferred tax
Deferred tax is provided using the liability method on temporary differences at the reporting
date between the tax bases of assets and liabilities and their carrying amounts for financial
reporting purposes. Deferred tax liabilities are recognized for all taxable temporary differences
with certain exceptions. Deferred tax assets are recognized for deductible temporary
differences and tax losses carry-forward to the extent that it is probable that taxable income will
be available in future years against which the deductible temporary differences and tax losses
carry-forward can be utilized.
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r. Income taxes (continued)
Deferred tax (continued)
The carrying amount of a deferred tax asset is reviewed at each reporting date and reduced to
the extent that it is no longer probable that sufficient taxable income will be available to allow
all or part of the benefit of that deferred tax asset to be utilized. Unrecognized deferred tax
assets are reassessed at each reporting date and are recognized to the extent that it has
become probable that future taxable income will allow the deferred tax assets to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to
the period when the asset is realized or the liability is settled, based on tax laws that have been
enacted or substantively enacted at the end of reporting period. The related tax effects of the
provisions for and/or reversals of all temporary differences during the year, including the effect
of change in tax rates, are credited or charged to current period operations, except to the extent
that they relate to items previously charged or credited to other comprehensive income or
directly in equity.
Deferred tax assets and liabilities are offset when a legally enforceable right exists to offset
current tax assets against current tax liabilities, or the deferred tax assets and the deferred tax
liabilities relate to the same taxable entity, or the Company and its Subsidiary intends to settle
its current assets and liabilities on a net basis.
s. Segment information
Operating segments are identified on the basis of internal reports about components of the
Company and its Subsidiary that are regularly reviewed by the chief operating decision maker
in order to allocate resources to the segments and to assess their performances.
An operating segment is a component of an entity:
a. that engages in business activities from which it may earn revenues and incurred expenses
(including revenues and expenses relating to the transactions with other components of the
same entity);
b. whose operating results are reviewed regularly by the entity’s chief operating decision
maker to make decision about resources to be allocated to the segments and assess its
performance; and
c. for which discrete financial information is available.
Information reported to the chief operating decision maker for the purpose of resource allocation
and assessment of performance is more specifically focused on the category of each product.
Segment revenue, expenses, results, assets and liabilities include items directly attributable to
a segment as well as those that can be allocated on a reasonable basis to that segment. They
are determined before intra-Company and its Subsidiary balances and intragroup transactions
are eliminated.
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t. Basic earnings per share
Basic earnings per share are calculated by dividing net profit for the year attributable to ordinary
equity holders of the parent by the weighted average number of ordinary shares outstanding
amounted to 520,160,000 shares in 2022 and 2021.
3. CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION

UNCERTAINTY
The preparation of the Company and its Subsidiary consolidated financial statements requires
management to make judgments, estimates and assumptions that affect the reported amounts
herein, and the related disclosures, at the end of the reporting period. However, uncertainty about
these assumptions and estimates could result in outcomes that require a material adjustment to
the carrying amount of the asset or liability affected in future periods.
a. Judgments
In the process of applying the Company and its Subsidiary accounting policies, management
has made the following judgments, which have the most significant effect on the amounts
recognized in the consolidated financial statements:
Business model assessment
Classification and measurement of financial assets depends on the results of the SPPI and the
business model. The Company and its Subsidiary determine the business model at a level that
reflects how Company and its Subsidiary’s financial assets are managed together to achieve a
particular business objective. This assessment includes judgment reflecting all relevant
evidence including how the performance of the assets is evaluated and their performance
measured, the risks that affect the performance of the assets and how these are managed and
how the managers of the assets are compensated. The Company and its Subsidiary monitor
financial assets measured at amortized cost or fair value through other comprehensive income
that are derecognized prior to their maturity to understand the reason for their disposal and
whether the reasons are consistent with the objective of the business for which the asset was
held. Monitoring is part of the Company and its Subsidiary’s continuous assessment of whether
the business model for which the remaining financial assets are held continues to be
appropriate and if it is not appropriate whether there has been a change in business model and
so a prospective change to the classification of those assets.
Determination of functional currency

The functional currency of the Company and its Subsidiary are the currency of the primary
economic environment in which each entity operates. It is the currency that mainly influences
the revenue and cost of rendering services. Based on the Company and its Subsidiary
management assessment, the Company and its Subsidiary’s functional currency is in Rupiah.
Determining the lease term of contracts with renewal and termination options - Company as
lessee
The Company and its Subsidiary determine the lease term as the non-cancellable term of the
lease, together with any periods covered by an option to extend the lease if it is reasonably
certain to be exercised, or any periods covered by an option to terminate the lease, if it is
reasonably certain not to be exercised.
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UNCERTAINTY (continued)
a. Judgments (continued)
Determining the lease term of contracts with renewal and termination options - Company as
lessee (continued)
The Company and its Subsidiary apply judgment in evaluating whether it is reasonably certain
whether or not to exercise the option to renew or terminate the lease. For lease contracts with
extension or termination options, management need to estimate the lease term which requires
consideration of all facts and circumstances that creates an economic incentive to exercise an
extension option or not to exercise termination options, including any expected changes in facts
and circumstances from commencement date until the exercise date of the options. Extension
options (or periods after termination options) are only included in lease terms if the Company
and its Subsidiary is reasonably certain to exercise the extension options or not to exercise the
termination options.
If a significant event or a significant change in circumstances occurs which affects this

assessment and that is within the control of the lessee, the above assessment will be reviewed.
b. Estimates and assumptions
The key assumptions concerning the future and other key sources of estimation uncertainty at
the reporting date, that have a significant risk of causing a material adjustment to the carrying
amounts of assets and liabilities within the next financial year, are described below. The
Company and its Subsidiary based its assumptions and estimates on parameters available
when the consolidated financial statements were prepared. Existing circumstances and
assumptions about future developments however, may change due to market changes or
circumstances arising beyond the control of the Company and its Subsidiary. Such changes
are reflected in the assumptions when they occur.
Provision for expected credit losses of trade receivables
When measuring ECL, the Company and its Subsidiary use reasonable and supportable
forward-looking information, which is based on assumptions for the future movement of different
economic drivers and how these drivers will affect each other.
Loss given default is an estimate of the loss arising on default. It is based on the difference
between the contractual cash flows due and those that the lender would expect to receive,
taking into account cash flows from collateral and integral credit enhancements.
Probability of default constitutes a key input in measuring ECL. Probability of default is an

estimate of the likelihood of default over a given time horizon, the calculation of which includes
historical data, assumptions and expectations of future conditions.
The information about the ECLs on the Company and its Subsidiary’s trade receivables is
disclosed in Note 6.
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b. Estimates and assumptions (continued)
Allowance for decline in market values and obsolescence of inventories
Allowance for decline in market values and obsolescence of inventories is estimated based on
the best available facts and circumstances, including but not limited to, the inventories’ own
physical conditions, their market selling prices, estimated costs of completion and estimated
costs to be incurred for their sales. The provisions are re-evaluated and adjusted as additional
information received affects the amount estimated. The carrying amount of the Company’s
inventories before allowance for obsolescence and decline in market values as of
December 31, 2022 and 2021 are disclosed on Note 7.
Depreciation of property, plant and equipment
The costs of property, plant and equipment are depreciated on a straight-line basis and double
declining method over their estimated useful lives.
Management estimates the depreciation rates of these property, plant and equipment to be
within 5% to 50%. These are common life expectancies applied in the industry where the
Company and its Subsidiary conduct its business. Changes in the expected level of usage and
technological development could impact the economic useful lives and the residual values of
these assets, and therefore future depreciation charges could be revised. The net carrying
amount of the property, plant and equipment as of December 31, 2022 and 2021 are disclosed
in Note 8.
Employee benefits
The determination of the Company and its Subsidiary obligations and cost for employee
benefits liability is dependent on its selection of certain assumptions used by the independent
actuaries in calculating such amounts. Those assumptions include among others, discount
rates, future annual salary increase, annual employee turn-over rate, disability rate, retirement
age and mortality rate.
Actual results that differ from the Company and its Subsidiary assumptions are recognized
immediately in the statement of financial position with a corresponding debit or credit to retained
earnings through other comprehensive income in the period which they occur. While the
Company and its Subsidiary believe that assumptions are reasonable and appropriate,
significant differences in the Company and its Subsidiary actual experiences or significant
changes in the Company and its Subsidiary assumptions may materially affect estimated
liability for employee benefits and net employee benefits expense. The carrying amount of the
Company and its Subsidiary estimated liability for employee benefits as of December 31, 2022
and 2021 are disclosed on Note 23.
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b. Estimates and assumptions (continued)
Income Tax
Significant judgment is involved in determining for the corporate income tax liability. There are
certain transactions and computation for which the ultimate tax determination is uncertain
during the ordinary course of business. The Company and its Subsidiary recognize liabilities
for expected corporate income tax issues based on estimates of whether additional corporate
income tax will be due.
Deferred Tax Assets
Deferred tax assets are recognized for all deductible temporary differences to the extent that it
is probable that taxable profit will be available against which the deductible temporary
differences can be utilized. Significant management estimates are required to determine the
amount of deferred tax assets that can be recognized, based upon the likely timing and the
level of future taxable profits together with future tax planning strategies, as of December 31,
2022 and 2021.
Estimating the IBR for Leases
The Company and its Subsidiary cannot readily determine the interest rate implicit in the lease,
therefore, it uses its incremental borrowing rate (IBR) to measure lease liabilities. The IBR is
the rate of interest that the Company and its Subsidiary would have to pay to borrow over a
similar term, and with a similar security, the funds necessary to obtain an asset of a similar
value to the right-of-use asset in a similar economic environment. IBR therefore reflects what
the Company ‘would have to pay’, which requires estimation when no observable rates are
available or when they need to be adjusted to reflect the terms and conditions of the lease. The
Company and its Subsidiary estimates the IBR using observable inputs (such as market interest
rates).
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4. CASH AND CASH EQUIVALENTS
2022 2021
Cash on hand
Rupiah 371,227,483 914,627,643
Cash in banks
Third parties
Rupiah
PT Bank Central Asia Tbk 5,501,818,859 6,557,299,172
PT Bank Maybank Indonesia Tbk 2,771,322,647 2,714,686,012
PT Bank Mandiri (Persero) Tbk 2,653,689,577 24,259,467,163
PT Bank HSBC Indonesia 2,618,256,567 470,031,574
PT Bank Negara Indonesia (Persero) Tbk 650,452,500 198,905,847
PT Bank Permata Tbk 195,118,642 197,504,370
PT Bank Rakyat Indonesia (Persero) Tbk 185,075,892 133,379,098
PT Bank Mega Tbk 177,560,126 175,695,954
PT Bank Panin Indonesia Tbk 141,880,739 95,552,693
PT Bank CIMB Niaga Tbk 62.319.726 718,457,113
PT Bank Syariah Indonesia Tbk 61,257,706 638,663,524
PT Bank UOB Indonesia 39,942,515 37,343,016
PT Bank Danamon Indonesia Tbk 39,753,099 37,350,007
PT Bank Tabungan Negara (Persero) Tbk 38,136,619 67,792,465
PT Bank Nationalnobu Tbk 32,472,151 29,710,272
US Dollar
PT Bank ICBC
Indonesia
53,346,226 229,789,009 53,346,226
PT Bank Central Asia Tbk 155,058,107 2,751,368,129
PT Bank HSBC Indonesia 97,571,842 176,358,276
Sub total 15,651,476,323 39,312,910,911
Cash equivalents
Third parties
Time deposits
Rupiah
PT Bank Panin Indonesia Tbk 13,634,070,874 16,873,934,179
PT Bank ICBC Indonesia 5,759,757,780 -
PT Bank ICBC Indonesia 2,823,752,912 5,496,857,720
PT Bank Mega Tbk - 2,231,484,419
US Dollar
PT Bank ICBC Indonesia 9,067,115,561 17,190,429,231
PT Bank Mega Tbk - 17,378,630,308
Sub total 31,284,697,127 59,171,335,857
Total 47,307,400,933 99,398,874,411
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4. CASH AND CASH EQUIVALENTS (continued)

The contractual interest rates for time deposits are as follows:
2022 2021
Rupiah 2.75%-4.25% 2.50% - 4.75%

US$ 0.40%-2.25% 0.50% - 1.50%
The term of the above time deposits is ranging from 1 - 3 months and automatically extended if no
information regarding the withdrawal has been received by the Bank from the Company.
5. TIME DEPOSITS
2022 2021
Rupiah
PT Bank HSBC Indonesia 2,280,237,091 5,637,527,566
Dolar AS
PT Bank ICBC Indonesia 1,854,701,901 -
Sub Total 48,084,719,917 37,493,496,823
Restricted time deposits

Total 83,084,719,917 76,493,496,823
The contractual interest rate for time deposits is as follows:

2022 2021
Rupiah 2.25%-2.5% 2.50% - 3.25%
The term of the above time deposits ranging from 6 - 12 months and automatically extended if no
information regarding the withdrawal has been received by the Bank from the Company.
Restricted time deposits at PT Bank Mandiri (Persero) Tbk are used as collateral for the Company's
business transactions with third parties. Time deposits at PT Bank Mandiri (Persero) Tbk amounting
to Rp 35,000,000,000 and Rp 39,000,000,000 respectively on December 31, 2022 and 2021 is
used as collateral for the loan amounted to Rp 35,000,000,000 of
PT Singa Purwakarta Jaya, a Subsidiary (Note 14).
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6. TRADE RECEIVABLES
Trade receivables consist of amounts due from customers with details as follows:
2022 2021
Third parties
Contractors and project owners 140,046,536,732 108,606,924,882
Distributors 9,836,518,157 12,597,615,006
Transportation receivable 780,296,106 804,454,872
Total 150,663,350,995 122,008,994,760

Less allowance for expected credit losses (32,383,245,645 ) (12,215,587,232 )
Trade receivable - third parties - net 118,280,105,350 109,793,407,528
Related parties (Note 26)

Trade receivables 25,065,437,050 32,605,050,042
Less allowance for expected credit losses (2,340,779,734 ) (2,513,656,619 )
Trade receivables - related parties - net 22,724,657,316 30,091,393,423
Trade receivables - net 141,004,762,666 139,884,800,951
As of December 31, 2022 and 2021, all trade receivables are denominated in Rupiah.
Allowance for credit losses for trade receivables has been measured at an amount equal to lifetime
ECL. The ECLs on trade receivables are estimated using a provision matrix by reference to past
default experience of the debtors and an analysis of the debtor’s current financial position, adjusted
for factors that are specific to the debtors operate.
There has been no change in the estimation techniques or significant assumptions made during the
current reporting period.
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6. TRADE RECEIVABLES (continued)
ECL on trade receivables using provision matrix

2022
Past due
31 - 60 61 - 90 > 90
Not past due < 30 days days days days Total
Third parties
Expected credit loss rate 4.48% 17.54% 36.03% 65.55% 100.00%
Estimated total gross carrying
amount at default 92,626,952,009 26,109,120,564 11,005,804,842 3,579,128,301 17,342,345,279 150,663,350,995
Lifetime ECL (4,151,391,522 ) (4,578,314,901 ) (3,965,013,249 ) (2,346,180,694 ) (17,342,345,279 ) (32,383,245,645 )
Total 118,280,150,350
2021
Past due
31 - 60 61 - 90 > 90
Third parties
Expected credit loss rate 3.77% 13.00% 28.04% 52.81% 100%
amount at default 95,649,033,992 15,394,416,137 4,324,577,212 2,643,685,976 3,997,281,443 122,008,994,760
Lifetime ECL (3,608,061,783 ) (2,001,644,895 ) (1,212,576,771 ) (1,396,022,340 ) (3,997,281,443 ) (12,215,587,232)
Total 109,793,407,528
2022
Past due
31 - 60 61 - 90 > 90
Expected credit loss rate 4.23% 18.76% 28.25% 53.55% 88.21%
amount at default 21,053,228,115 1,998,145,558 780,638,513 675,223,491 558,201,373 25,065,437,050
Lifetime ECL (891,365,152 ) (374,909,494 ) (220,558,055 ) (361,563,583 ) (492,383,450 ) (2,340,779,734 )
Total 22,724,657,316
2021
Past due
31 - 60 61 - 90 > 90
Expected credit loss rate 4.59% 22.00% 32.33% 67.24% 100%
amount at default 29,029,546,104 1,726,801,396 1,269,193,200 579,017,102 492,240 32,605,050,042
Lifetime ECL (1,333,751,275 ) (379,813,326 ) (410,282,558 ) (389,317,220 ) (492,240 ) (2,513,656,619 )
Total 30,091,393,423
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6. TRADE RECEIVABLES (continued)
Movements in allowance for ECLs of trade receivables are as follows:
2022 2021
Third parties
At the beginning of the year 12,215,587,232 18,083,172,297
Provision during the year (Note 21) 20,167,658,413 -
Recovery during the year (Note 22) - (5,867,585,065 )
At the end of the year 32,383,245,645 12,215,587,232
2022 2021
Related parties
At the beginning of the year 2,513,656,619 1,843,258,164
Provision (recovery) during the year (Note 21) (172,876,885 ) 670,398,455
At the end of the year 2,340,779,734 2,513,656,619
Based on the review of the status of the individual receivables at the end of the year, the
management believes that the allowance for expected credit losses is adequate to cover possible
losses from non-collection of receivables.
7. INVENTORIES
2022 2021
Raw materials 57,805,863,271 50,706,400,611
Finished goods 132,496,572,340 99,818,194,579
Work in process 36,153,435,045 36,082,790,069
Spare parts 7,054,928,583 6,473,467,974
Sub total 233,510,799,239 193,080,853,233
Less allowance for inventories obsolescence (532,443,070 ) (532,443,070 )
Net 232,978,356,169 192,548,410,163
Inventories are covered with insurance against losses from fire and other risks under blanket
policies for Rp 169,500,000,000 and Rp 173,250,000,000 in 2022 and 2021, which in
management’s opinion is adequate to cover possible losses from fire and other risks.
Based on the review of the condition of the inventories at the end of the year, management believes
that the inventories are realizable at the stated amounts and the allowance for inventories
obsolescence is adequate.
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8. PROPERTY, PLANT AND EQUIPMENT
2022
Beginning Ending
Description Balance Additions Deductions Reclassification Balance
Cost
Land 5,259,002,500 - - - 5,259,002,500
Building and improvements 87,028,055,846 - - - 87,028,055,846
Power plant 631,462,000 - - - 631,462,000
Machinery and equipment 82,406,086,039 4,255,512,500 - - 86,661,598,539
Motor vehicles 15,978,877,128 - 131,700,000 - 15,847,177,128
Office and factory
equipment 23,142,403,244 9,665,000 - - 23,152,068,244
Roads and supporting
facilities 11,761,476,807 13,030,000 - - 11,774,506,807
Total 226,207,363,564 4,278,207,500 131,700,000 - 230,353,871,064
Accumulated Depreciation
Building and improvements 34,358,229,366 2,735,620,853 - - 37,093,850,219
Power plant 259,676,777 31,573,104 - - 291,249,881
Machinery and equipment 67,015,316,418 3,933,524,024 - - 70,948,840,442
Motor vehicles 15,852,494,823 130,658,014 131,700,000 - 15,851,452,837
Office and factory
equipment 20,544,518,395 582,026,098 - - 21,126,544,493
facilities 599,933,818 588,687,711 - - 1,188,621,529
Total 138,630,169,597 8,002,089,804 131,700,000 - 146,500,559,401
Net book value 87,577,193,967 - 83,853,311,663
2021
Beginning Ending
Description Balance Additions Deductions Reclassification Balance
Cost
Land 5,259,002,500 - - - 5,259,002,500
Power plant 631,462,000 - - - 631,462,000
Machinery and equipment 82,406,086,039 - - - 82,406,086,039
Motor vehicles 16,208,675,128 - 229,798,000 - 15,978,877,128
Office and factory
equipment 23,139,704,944 2,698,300 - - 23,142,403,244
facilities 11,761,476,807 - - - 11,761,476,807
Total 220,928,099,628 5,509,061,936 229,798,000 - 226,207,363,564
Accumulated Depreciation
Power plant 228,103,677 31,573,100 - - 259,676,777
Machinery and equipment 62,878,078,503 4,367,035,915 229,798,000 - 67,015,316,418
Motor vehicles 15,627,457,099 225,037,724 15,852,494,823
Office and factory
equipment 19,798,229,668 746,288,727 - - 20,544,518,395
36

AND ITS SUBSIDIARY

facilities 11,859,977 588,073,841 - - 599,933,818
Total 129,827,702,500 9,032,265,097 229,798,000 - 138,630,169,597
Net book value 91,100,397,128 87,577,193,967
8. PROPERTY, PLANT AND EQUIPMENT (continued)
The details of sales of property, plant and equipment in 2022 and 2021 are follows:
2022 2021
Proceeds from sale of property, plant
and equipment 69,050,000 146,450,000
Net book value - -
Gain on sale of property, plant

and equipment (Note 23) 69,050,000 146,450,000
Depreciation was charged to the following accounts:
2022 2021
Factory overhead 4,590,496,534 5,284,339,101

Operating expenses (Note 21):
General and administrative 3,347,082,717 3,636,498,402
Selling 64,510,553 111,427,594
Total 8,002,089,804 9,032,265,097
Property, plant and equipment, except land, are covered by insurance against losses from fire and
other specific risks with a total coverage of Rp 18,300,000,000 and US$ 6,080,000 in 2022 and
2021, which the management believes is adequate to cover possible losses from fire and other
risks.
The Building Use Rights (“HGB”) for land where the factory in Jakarta is located will expire in 2027.
Management believes that ownership of land rights can be extended upon maturity.
There are no fully depreciated assets that are still used by the Company and its Subsidiary in its
operation.
9. LEASES
The Company has lease contracts for buildings used in the Company's operations. Lease of
building has lease term team of 5 years.
2022
Beginning
Balance Additions Deductions Reclassifications Ending balance
37

AND ITS SUBSIDIARY
Cost:
Buildings 1,979,743,418 3,268,780,926 (1,979,743,418 ) - 3,268,780,926
Accumulated depreciation:
Buildings 1,583,794,733 613,867,414 (1,979,743,418 ) - 217,918,729
Net carrying value 395,948,685 3,050,862,197
9. LEASES (continued)
2021
Beginning
Balance Additions Deductions Reclassifications Ending balance
Cost:
Buildings 1,979,743,418 - - - 1,979,743,418
Accumulated depreciation:
Buildings 791,897,367 791,897,366 - - 1,583,794,733
Net carrying value 1,187,846,051 395,948,685
Set out below are the carrying amounts of lease liabilities and the movements during the period:
2022 2021
As January 1 - 846,423,382
Additions 3,268,780,926 -
Interest additions 43,479,921 6,576,618
Payments
Principal (676.520.079 ) (853,000,000 )
Interest (43,479,921 ) 6,576,618
As at December 31 2,592,260,847 -
Current 602,735,117 -
Non-current 1,989,525,730 -
The following are the amounts recognised in profit or loss:

2022 2021
Depreciation expense of right- of-use assets
(Note 21) 613,867,414 791,897,367
Total amount recognised in profit or loss 613,867,414 791,897,367
The Company and its Subsidiary had total cash outflows for leases of Rp 720,000,000 and
Rp 853,000,000 in 2022 and 2021, respectively. The Company and its Subsidiary also had non-
cash additions to right-of-use assets and lease liabilities of Rp 3,268,780,926 in 2022.
38

AND ITS SUBSIDIARY
10. INVESTMENT PROPERTIES
2022
Beginning Ending
Description Balance Addition Deduction Reclassification Balance
Cost
Land 59,517,253,319 - - - 59,517,253,319
10. INVESTMENT PROPERTIES (continued)
2021
Beginning Ending
Description Balance Addition Deduction Reclassification Balance
Cost
Land 59,517,253,319 - - - 59,517,253,319
Investment property - land owned by Subsidiary located in Purwakarta with an area of

approximately 900,833m2 in 2022 and 2021 with Building Use Rights (HGB) certificate which will
expire between 2028, 2030 and 2048.
The Company and its Subsidiary’s management believes that there is no impairment in investment
properties as of December 31, 2022 and 2021.
The Tax Object Sales Value of land is Rp 197,695,037,000 and Rp 183,239,863,000 in 2022 and
2021, respectively.
11. TRADE PAYABLES - THIRD PARTIES
2022 2021
PT Krakatau Steel (Persero) Tbk 9,357,912,360 -
PT Indo Multi jaya Steel 6,125,461,099 -
PT AM/NS Indonesia 1,709,955,000 -
PT Bumi Agung Perkasa Indah 1,042,593,421 -
PT Mitra Angkasa Sejahtera 992,040,394 738,951,269
PT Sinar Sukses Sejahtera 883,282,500 -
PT San Central Indah 631,035,860 -
PT Hanwa Indonesia 551,475,832 -
PT Jotun Indonesia 342,732,480 -
PT Praja Billionmas Lestari - 3,663,500,500
PT Tata Kreasi Sejahtera - 2,204,296,752
PT Nord Driversystems Indonesia - 1,304,597,700
PT Putra Setia Sukses Bersama - 1,046,420,466
PT San Sentral Indah - 828,794,800
PT Djaja Harapan - 640,916,420
39

AND ITS SUBSIDIARY
PT Indo Multi Jaya Steel - 580,757,815

PT Bina Adidaya - 499,886,830
PT Andika Jana Bumi Sejahtera - 239,872,058
PT Sarana Steel - 202,906,884
Others (each account
below Rp 300,000,000) 1,966,911,714 4,946,407,891
Total 23,603,400,660 16,897,309,385
All trade payables are denominated in Rupiah.
12. TAXATION
a. Taxes payable consist of:
2022 2021
Company
Income taxes:
Article 4 (2) 32,652,846 36,515,481
Article 21 1,534,634,776 668,858,574
Article 23 26,873,140 8,038,033
Article 25 304,794,325 -
Article 29 5,869,321,441 2,375,400,253
Value Added Tax 2,433,790,214 2,557,903,728
Total 10,202,066,742 5,646,716,069
b. The reconciliation between income (loss) before income tax, as shown in the consolidated
statements of profit or loss and other comprehensive income, and estimated taxable income of
the Company for the years ended December 31, 2022 and 2021 is as follows:
2022 2021
Income (loss) before income tax

per consolidated statements of profit or
loss and other comprehensive income 7,494,043,687 (1,376,214,765 )
Loss of Subsidiary PT Singa Purwakarta Jaya 2,084,187,998 2,487,334,984
Income before income tax attributable
to the Company 9,578,231,685 1,111,120,219
Temporary differences:
Provision for employee benefits 12,645,084,771 12.540.844.203
Payments of employee benefits (7,218,434,860 ) (4,691,927,175
Depreciation of property, plant and
equipment (3,579,948,988 ) (1,183,897,710 )
Leases 417,347,333 (54,526,015 )
Provision for (recovery of) expected credit
losses 19,994,781,528 (5,197,186,610 )
Permanent differences:
Non-deductible expenses:
40

AND ITS SUBSIDIARY
Employee benefits 18,176,633,147 14,903,068,501

Tax expenses 3,311,967,681 3,931,049,323
Repairs and maintenance 3,154,078,221 3,065,205,198
Representation and donation 808,182,238 928,677,773
Others 828,471,707 1,124,922,049
Revenue subjected to final tax
Net sales* (9,661,272,762 ) (6,786,905,912 )
Interest income (2,258,086,807 ) (2,671,098,639 )
Rent income (394,200,000 ) (394,200,000 )
Estimated taxable income of
the Company 45,802,834,894 16,625,145,205
12. TAXATION (continued)
b. The reconciliation between income (loss) before income tax, as shown in the consolidated
statements of profit or loss and other comprehensive income, and estimated taxable income of
the Company for the years ended December 31, 2022 and 2021 is as follows: (continued)
2022 2021
Estimated taxable income of the

Company (rounded-off) 45,802,834,000 16,625,145,000
* Represent sale of building construction materials net of expenses which final taxes have been withheld by
customers.
The computation of the income tax expense of the Company are as follows:
2022 2021
Current income tax expense - Company

(22% in 2022 and 2021) 10,076,623,480 3,657,531,900
Prepayments of income tax

Article 22 1,125,674,093 683,090,132
Article 23 338,479,021 95,414,271
Article 25 2,743,148,925 503,627,244
Total prepayments 4,207,302,039 1,282,131,647
Estimated income tax payable 5,869,321,441 2,375,400,253
The details of the income tax expense are as follows:
2022 2021
Current tax expenses
Current tax on profits for the year company (10,076,623,480 ) (3,657,531,900 )
41

AND ITS SUBSIDIARY
Deferred tax expenses

The Company
Deferred tax relating to origination and
reversal of temporary differences 4,896,942,552 310,927,473
Adjustments to deferred tax attributable
to changes in tax rates and laws - (4,014,870,463 )
Total income tax expense (5,179,680,928 ) (7,361,474,890 )
Until the issuance of these consolidated financial statements, the Company and its Subsidiary
have not yet filed their 2021 Income Tax Return (SPT) to the Tax Office. The computation of
the Company’s estimated taxable income and Subsidiary’s estimated fiscal loss in 2020
conform to the reported amounts in the respective SPT of the Company and its Subsidiary.
c. The computation of net construction income from sale of building construction materials is as
follows:
2022 2021
Sale of building construction materials 39,245,370,595 53,507,217,045

Cost of sales (19,709,025,113 ) (27,021,144,608 )
Gross profit 19,536,345,482 26,486,072,437

Construction materials expenses (9,875,072,720 ) (19,699,166,525 )
Net income from sale of
building construction material 9,661,272,762 6,786,905,912
Cost of sales is determined at 50.5% and 40% of the sale of building construction materials in
2022 and 2021. Allocation of construction expenses is determined based on ratio between sale
of building construction materials to total net sales of the respective periods which is 18% and
6% in 2022 and 2021, respectively.
d. Income tax recognized in other comprehensive income:
2022 2021
Deferred tax:
Arising on income and expenses recognized
in other comprehensive income:
Remeasurement of on defined benefit
obligation (1,883,439,734 ) (1,134,918,324 )
Adjustments to deferred tax attributable to
changes in tax rates and laws - 578,209,622
Total (1,883,439,734 ) (556,708,702 )
e. Deferred taxes
42

AND ITS SUBSIDIARY
2022
Effect of the change in tax rates
charged to Credited
Credited other Credited to other
Beginning (charged) to comprehensive (charged) to comprehensive Ending
Balance profit or loss income profit or loss income Balance
Allowance for ECLs 3,240,433,647 4,398,851,935 - - - 7,639,285,582

Employee benefits liability 18,918,151,760 1,193,862,980 (1,883,439,734) 18,228,575,006
Depreciation of property,
plant and equipment 3,080,036,592 (787,588,777 ) - - - 2,292,447,815
Leases (87,108,710 ) 91,816,414 - - - 4,707,704
Allowance for inventory
obsolescence 117,137,476 - - - - 117,137,476
December 31, 2022 25,268,650,765 4,896,942,552 (1,883,439,734 ) - - 28,282,153,583
e. Deferred taxes (continued)

2021
Effect of the change in tax rates
charged to Credited
Credited other Credited to other
Beginning (charged) to comprehensive (charged) to comprehensive Ending
Balance profit or loss income profit or loss income Balance
Allowance for ECLs 3,985,286,092 (1,143,381,054 ) - 398,528,609 - 3,240,433,647

Employee benefits liability 22,442,376,524 1,726,761,746 (1,134,918,324 ) (4,694,277,808 ) 578,209,622 18,918,151,760
Depreciation of property,
plant and equipment 3,036,813,607 (260,457,496 ) - 303,680,481 - 3,080,036,592
Leases (68,284,534 ) (11,995,723 ) - (6,828,453 ) - (87,108,710 )
Allowance for inventory
obsolescence 133,110,768 - - (15,973,292 ) - 117,137,476
December 31, 2022 29,529,302,457 310,927,473 (1,134,918,324 ) (4,014,870,463 ) 578,209,622 25,268,650,765
f. The reconciliation between the income tax expense (benefit) calculated by applying the
applicable tax rate of 22% loss before income tax in 2022 and 2021, and the income tax
expense - net shown in the consolidated statements of profit or loss and other comprehensive
income for the years ended December 31, 2022 and 2021 are as follows:
2022 2021
Income before income tax per

consolidated statements of profit or loss
and comprehensive income 9,578,231,685 1,111,120,219
4
Income tax expense at tax rates (22% on the

year 2022 and 2021) 2,107,210,971 244,446,449
Tax effect of permanent differences
Employee benefits 3,998,859,292 3,278,675,070
Repairs and maintenance 693,897,209 674,345,144
Tax expenses 728,632,890 864,830,851
Others 182,263,579 247,482,803
43

AND ITS SUBSIDIARY
Income already subjected to final tax (2,708,983,105 ) (2,167,485,001 )

Adjustments due to change in tax rates - 4,014,870,464
Income tax expense - net per consolidated

of profit or loss comprehensive income 5,179,680,928 7,361,474,890
g. Changes in Corporate Tax Rates
On March 31, 2020, as part of the economic stimulus protection against the impact of Covid-
19, the government of the Republic of Indonesia announced Government Regulation in Lieu of
Acts (“Perpu”) No. 1 Year 2020 which subsequently became Law No. 2 Year 2020 on May 18,
2020 Regarding State Financial Policy and Financial System Stability for Handling of Corona
Virus Disease-19 (Covid-19) Pandemic and/or in Order to Counter Threats which are
Dangerous to National Economy and/or Financial System Stability.
Law No. 2 Year 2020 regulates, among others, a decrease in the corporate tax rate as follows:
• For fiscal years 2020 and 2021: from 25% to 22%;
• Starting fiscal year 2022: from 22% to 20%;
• Domestic public listed companies that fulfill certain additional criteria will be eligible for a tax
rate which is lower by 3% from the abovementioned tax rates.
On October 29, 2021, the Government issued a Law of the Republic of Indonesia Number 7
Year 2021 about “Harmonization of Tax Regulations which stipulates, among others, reduction
to the tax rates for corporate income taxpayers and permanent establishments entities from
previously 25% to become 22% starting in fiscal year 2022 and onwards, and for domestic
public listed companies that fulfill certain additional criteria will be eligible for a tax rate which is
lower by 3% from the abovementioned tax rate: and increase of the value added tax rate from
previously 10% to become 11% effective from April 1, 2022 and become 12% no later than
January 1, 2025.
13. ADVANCES FROM CUSTOMERS
Advances from customers represent advances received by the Company for the sale of the
following products:
2022 2021
Steel door 47,026,519,198 49,900,432,901

Cable ladders 1,859,336,661 20,592,173,358
44

AND ITS SUBSIDIARY
Office equipment 3,299,937,998 3,733,132,834

Building equipment 650,242,821 650,242,821
Total 52,836,036,678 74,875,981,914
14. BANK LOAN
The bank loan represents outstanding balance of the credit facility obtained by
PT Singapurwakarta Jaya, a Subsidiary with details as follows:
2022 2021
14. BANK LOAN (continued)
On January 9, 2014, based on the Deposit Collateral Credit Agreement Number:

CRO.JSD/021/KAD/2014, the Company obtained a fixed loan credit facility from PT Bank Mandiri
(Persero) Tbk. The purpose of the loan is for the Subsidiary's operations with a maximum amount
of Rp 35,000,000,000 in 2022 and 2021 with a fixed interest rate of 1.25% per annum above the
guaranteed deposit rate. This facility has been extended based on Addendum VII (Seventh) No.
CRO.JSD/021/KAD/2014 on January 7, 2020, which the term has been extended to January 12,
2021 and has been further extended based on addendum VIII (Eighth No. CRO.JSD/021/KAD/2014
on January 6, 2021 which term has been extended to January 12, 2022 and will be extended
automatically, as long as there is no disbursement of deposit guarantees. This facility is secured by
a time deposit of Rp 39,000,000,000 under the name of PT Lion Metal Works Tbk, the parent Entity.
On January 10, 2023, this loan has been extended based on Addendum X of the Deposit Collateral
Credit Agreement No. CRO.JSD/021/KAD/2014, which the term of the loan has been extended until
January 12, 2024.
15. SHARE CAPITAL
The details of Company’s share ownership as of December 31, 2022 based on the report from
PT Raya Saham Registra and as of December 31, 2020 based on the report from PT Sirca Datapro
Perdana, share administrator, are as follows:
Number of Percentage
Issued Fully of Ownership
Shareholders Paid Shares (%) Amount
Management
Cheng Yong Kim (President Director) 690.000 0,132 69.000.000
Lim Tai Pong (Director) 630.000 0,121 63.000.000
Ir. Krisant Sophiaan (Director) 10.000 0,002 1.000.000
Tjoe Tjoe Peng
45

AND ITS SUBSIDIARY
(Lawer Supendi) (Director) 5.000 0,001 500.000

Non-Management
Lion Holdings Pte. Ltd., Singapore 150.060.000 28,849 15.006.000.000
Lion Holdings Sdn. Bhd., Kuala Lumpur 150.060.000 28,849 15.006.000.000
Public (below 5% each) 218.705.000 42,046 21.870.500.000
Total 520.160.000 100.00 52.016.000.000
16. NON-CONTROLLING INTERESTS
The investment of non-controlling shareholders in Subsidiaries of 0.000016667% or in the amount

of Rp 425,819 and Rp 391,093, respectively, was not recognized in the consolidated financial
statements as of December 31, 2022 and 2021 because the amount is immaterial.
17. ADDITIONAL PAID-IN CAPITAL - NET

The details of this account are as follows:
2022 2021
Premium on share capital from

initial public offering 3,450,000,000 3,450,000,000
Difference between market value and
par value upon distribution of share
dividends (3,251,000 shares) in 1996 2,600,800,000 2,600,800,000
Distribution of bonus shares
(3,251,000 shares) in 1996 (3,251,000,000 (3,251,000,000 )
Share issuance costs (817,224,900 (817,224,900 )
Differences arising from restructuring of entities
under common control (27,944,879 (27,944,879 )
Net 1,954,630,221 1,954,630,221
The share issuance costs were from the Company’s First Limited Public Offering of Rights to the
shareholders in 1996.
18. DIVIDENDS
Based on the minutes of the shareholders’ Annual General Meeting held on July 15, 2022, which
is covered by Notarial Deed No.21 dated July 15, 2022 of Notary Fathiah Helmi, S.H, the
shareholders decided not to distribute dividends.
Based on the minutes of the shareholders’ Annual General Meeting held on August 25, 2021, which
is covered by Notarial Deed No.39 dated August 25, 2021 of Notary Fathiah Helmi, S.H, the
shareholders decided not to distribute dividends.
46

AND ITS SUBSIDIARY
19. NET SALES
Net sales represent revenues from sales of the Company’s products which includes, among others,
office equipment, warehouse and other steel products such as filing cabinet, cupboard, steel door,
racking and others.
Net sales classified based on market location are as follows:
2022 2021
Domestic 408,811,497,547 300,994,151,273

Sales returns - (713,865,759 )
Total 408,811,497,547 300,280,285,514
The Company’s sales to customers that exceeded 10% of net sales were sales to PT Bantrunk
Murni Indonesia, a related party, amounting to Rp 105,606,458,336 or 25,83% of net sales in 2022
and Rp 85,583,250,576 or 28.50% of net sales in 2021 (Note 26).
20. COST OF GOODS SOLD
The details of cost of goods sold are as follows:
2022 2021
Raw materials and indirect materials

At beginning of the year 50,706,400,611 34,185,459,646
Purchases 175,795,694,606 145,920,613,179
At end of the year (57,273,420,201 ) (50,706,400,611 )
Total raw materials and
indirect materials used 169,228,675,016 129,399,672,214
Direct labor 66,393,565,014 61,417,610,944
Factory overhead 58,836,206,326 33,855,907,314
Total manufacturing cost 294,458,446,356 224,673,190,472
Work in process
At end of the year (36,153,435,045 ) (36,082,790,069 )
Cost of goods manufactured 294,387,801,380 213,942,495,789
Finished goods
At end of the year (132,496,572,340 ) (99,818,194,579 )
47

AND ITS SUBSIDIARY
Cost of goods sold 261,709,423,619 198,452,832,964
There are purchases from certain third-party suppliers that exceed 10% of net sales with the
following details:
Percentage to
Total net sales
2022 2021 2022 2021
Purchases
PT Krakatau Steel (Persero) Tbk 23,165,457,771 13,206,670,459 5.67% 12.97%
21. OPERATING EXPENSES
The details of operating expenses are as follows:
2021 (As restated

2022 Note 31)
a. Selling expenses
Survey and installation 13,322,196,725 14,807,333,779
Sales commission 7,153,475,000 6,151,470,363
Packing and freight 5,572,949,769 3,700,069,640
Salaries and employee benefits 4,732,474,310 4,652,391,875
Repairs and maintenance 945,623,248 893,237,100
Depreciation (Note 8) 64,510,553 111,427,594
Advertising and exhibitions 19,428,720 28,836,000
Others 1,100,934,938 1,749,745,355
32,911,593,263 32,094,511,706
b. General and administrative expenses

Salaries and employee benefits 71,457,053,995 59,825,559,874
Provision for expected credit losses (Note 6) 20,167,658,413 670,398,455
Depreciation (Note 8) 3,347,082,717 3,636,498,402
Repairs and maintenance 2,816,216,785 1,012,150,733
Land and building taxes 1,632,123,047 1,493,450,814
48

AND ITS SUBSIDIARY
Bank charges 888,965,894 1,342,100,276

Postage, telephone and office supplies 886,095,777 930,014,040
Professional fees 782,919,424 1,438,027,828
Insurance 685,048,885 599,445,628
Travel 633,910,120 201,444,983
Electricity and water 614,123,625 726,279,354
Depreciation of right-of-use assets (Note 9) 613,867,414 791,897,367
Others 4,706,497,461 5,556,800,398
110,040,745,795 79,152,745,924
Total 142,952,339,058 111,247,257,630
22. OTHER INCOME (EXPENSES)
2022 2021
Gain on foreign exchange – net 1,794,158,339 523,272,317

Rent income (Note 26) 394,200,000 394,200,000
Recovery of allowance for expected credit losses
(Note 6) 172,876,885 5,867,585,065
Gain on sale of property, plant and equipment
(Note 8) 69,050,000 146,450,000
Other income (expenses) - net (55,135,000 ) (62,525,300 )
Net 2,375,150,224 6,868,982,082
23. EMPLOYEE BENEFITS LIABILITY

The Company and its Subsidiary provide benefits for its employees who has reached the retirement
age of 55 based on the provisions of Labor Law No. 13/2003 dated March 25, 2003 (the “Labor
Law”) in 2020 and Government Regulation Number 35 Year 2021 (PP 35/2021) that implement the
provisions of Article 81 and Article 185 (b) of Law No. 11/2020 on Job Creation (Cipta Kerja) in
2021. The employee benefits liability is unfunded.
The following tables summarize the components of employee benefits expense recognized in the
consolidated profit of loss and the amounts recognized in the consolidated statement of financial
position as employee benefits liability as determined by an independent actuary KKA Indra Catarya
Situmeang Dan Rekan, in its report dated February 8, 2023, for 2022 and March 8, 2022, for 2021.
Discount rate : 7.18% per annum in 2022 and 7.01% per annum in 2021
Wages and salary increase : 9% per annum in 2022 and 2021
Retirement age : 55 years old
Mortality rate : TMI 2012 per annum in 2014 and CSO 1980 per annum in 2011
Method : Projected Unit Credit
a. Employee benefits expense are as follows:
2021 (As restated
2022 Note 31)
Current service cost 7,487,037,050 7,765,889,538

Interest cost 5,011,117,536 4,774,954,665
49

AND ITS SUBSIDIARY
Past service cost 146,930,185 -
Total 12,645,084,771 12,540,844,203
b. Estimated liability for employee benefits liability is as follows:

2021 (As restated
2022 Note 31)
Present value of defined benefit obligation 82,857,159,120 85,991,598,909
c. The movement of estimated liability for employee benefits liability for the years ended
December 31, 2022 and 2021 are as follows:
2022 2021
Beginning balance 85,991,598,909 83,301,401,535

Current service cost 7,487,037,050 7,765,889,538
Interest cost 5,011,117,536 4,774,954,665
Past service cost 146,930,185 -
Benefits paid (7,218,434,860 ) (4,691,927,175 )
Remeasurements:
Effect of changes in financial assumptions (605,156,900 ) (1,335,884,335 )
Effect of experience adjustments (7,955,932,800 ) (3,822,835,319 )
Total 82,857,159,120 85,991,598,909

Less current maturities (10,460,914,624 ) (10,928,200,442 )
Long-term portion 72,396,244,496 75,063,398,467
23. EMPLOYEE BENEFITS LIABILITY (continued)
d. The following table provides the sensitivity from changes in market interest rate, with all other
variables held constant, to estimated liability for employee benefits liability for the year ended
December 31, 2022:
Increase Decrease
1% 1%
Discount rate 8,18% 6,18%

Impact on employee benefits liability (5,969,584,956 ) 7,812,930,904
Salary increase rate 8,18% 6,18%
Impact on employee benefits liability 7,986,809,718 (6,239,971,211 )
The sensitivity analyses are based on a change in an assumption while holding all other
assumptions constant. In practice, this is unlikely to occur, and changes in some of the
assumptions may be correlated. When calculating the sensitivity of the defined benefit
obligation to significant actuarial assumptions the same method (present value of the defined
benefit obligation calculated with the projected unit credit method at the end of the reporting
period) has been applied as when calculating the employee benefits liability recognised within
the statement of financial position.
50

AND ITS SUBSIDIARY
The methods and types of assumptions used in preparing the sensitivity analysis did not change
compared to the previous period.
The maturity of defined benefits obligations as of December 31, 2022 and 2021 is as follows:
2022 2021
Within the next 12 months

(the next annual reporting period) 10,460,914,624 10,928,200,442
Between 2 and 5 years 16,146,562,807 19,155,135,497
Beyond 5 years 56,724,799,180 82,63,550,216
24. MONETARY ASSETS IN FOREIGN CURRENCIES
As of December 31, 2022 and 2021, the Company’s outstanding monetary assets in foreign
currency are as follows:
2022 2021
Original Currencies Rupiah Equivalent Original Currencies Rupiah Equivalent
Assets
Cash and cash equivalents US$ 607,051,97 9,549,534,519 US$ 2.631.588,21 37,550,132,169
The above assets are translated using the closing rates of Bank Indonesia on December 31, 2022.
25. SEGMENT INFORMATION
The Company conducts the majority of their business activities around two (2) major products; office
equipment and building material. Information the Company’s business segments are as follows:
2022
Office Building
Equipment Materials Consolidation
(in million (in million (in million
Net Sales
External sales 227,663 181,148 408,811
Total net sales 408,811
Expenses
Cost of goods sold (261,709 )
Operating expenses (142,952 )
Income 4,150
51

AND ITS SUBSIDIARY
Income from operations

Financial income 969
Other income - net 2,375
Income tax expense (5,180 )
Profit for the year 2,314
Other information
Segment assets 684,498
Segment liabilities 209,683
Acquisition of property, plant and equipment 4,278
Depreciation expense 8,002
25. SEGMENT INFORMATION (continued)

2021
Office Building
Equipment Materials Consolidation
(in million (in million (in million
Net Sales
External sales 175,407 124,873 300,280
Total net sales 300,280
Expenses
Cost of goods sold (198,452 )
Operating expenses (111,247 )
(9,420 )
Income from operations

Interest income 1,174
52

AND ITS SUBSIDIARY
Other income - net 6,869

Income tax expense (7,361 )
Profit for the year (8,738 )
Other information
Segment assets 686,807
Segment liabilities 220,984
Acquisition of property, plant and equipment 5,509
Depreciation expense 9,032
26. BALANCES AND TRANSACTIONS WITH RELATED PARTIES
The balance, details of accounts and transactions entered into with related parties are as follows:
Percentage to Total Assets/

Total Net Sales/Purchases/Expenses
2022 2021 2022 2021
Trade receivables
PT Bantrunk Murni Indonesia 10,804,802,117 19,715,222,551 1.70% 2.85%
PT Logam Menara Murni 10,171,617,870 8,482,107,461 1.60% 1.22%
PT Logam Angkasa Teknik 4,089,017,063 4,407,720,030 0.64% 0.64%
Total 25,065,437,050 32,605,050,042 3.94% 4.71%
Net sales:
PT Bantrunk Murni Indonesia 105,606,458,336 85,583,250,576 25.83% 28.50%
PT Logam Menara Murni 10,319,421,453 10,206,398,295 2.52% 3.40%
PT Logam Angkasa Teknik 6,895,911,819 11,435,721,168 1.69% 3.81%
53

AND ITS SUBSIDIARY
PT Lionmesh Prima Tbk 17,684,190 63,207,850 0.00% 0.02%
Total 122,839,475,798 107,288,577,889 30.04% 35.73%
Other receivables:
PT Lionmesh Prima Tbk 1,414,924,815 1,414,924,815 0.20% 0.20%
Purchases
PT Bantrunk Murni Indonesia 25,555,950 56,029,300 0.056% 0.05%
Total 123,779,250 148,840,650 0.07% 0.08%
Rental income
PT Lion Superior Electrodes 340,200,000 340,200,000 0.11% 0.11%
PT Bantrunk Murni Indonesia 27,000,000 27,000,000 0.01% 0.01%
PT Logam Menara Murni 27,000,000 27,000,000 0.01% 0.01%
Rental income 394,200,000 394,200,000 0.13% 0.13%
Rent payment
Compensation
Board of Commissioner and Directors 9,550,128,500 6,929,885,014 0.06% 13.32%
The above transactions are based on terms agreed by both parties, where such terms may not be
the same as those transactions conducted with unrelated parties.
Other receivables amounting to Rp 1,414,924,815 represent claims to PT Lionmesh Prima Tbk for
the employee benefits of transferred employees.
26. BALANCES AND TRANSACTIONS WITH RELATED PARTIES (continued)
Based on Notarial deed with Lease Agreement No. 24 dated May 23, 2017, between the Company
and PT Lionmesh Prima Tbk, an entity under common control, the Company leases land and factory
building located in Sidoarjo for a period of 5 years, with the rental payments made annually.
The relationship and nature of transactions with related parties are as follows:
Related Parties Relationship Nature of Transactions
PT Bantrunk Murni Indonesia Under common Sales, purchases and rental

control
PT Logam Angkasa Teknik Under common Sales and purchases
control
PT Logam Menara Murni Under common Sales, purchases and rental
control
Lion Steelworks Sdn Bhd, Malaysia Under common Sales
control
PT Lion Superior Electrodes Under common Rental
54

AND ITS SUBSIDIARY
control
PT Lionmesh Prima Tbk Under common Sales, purchases, rental, and
control transfer of employee
benefits liabilities
27. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
In their daily business activities, the Company and its Subsidiary is exposed to risks. The main risks
faced by the Company and its Subsidiary arising from their financial instruments are credit risk,
market risk (i.e. interest rate risk and foreign exchange rate risk) and liquidity risk. The core function
of the Company and its Subsidiary’s risk management is to identify all key risks for the Company
and its Subsidiary, measure these risks and manage the risk positions in accordance with its
policies and Company and its Subsidiary’s risk appetite. The Company and its Subsidiary regularly
review their risk management policies and systems to reflect changes in markets, products and
best market practice.
The Company and its Subsidiary are exposed to the following risks from the use of financial
instruments:
a. Credit Risk
Credit risk is the risk that a counterparty will not meet its obligations under a customer contract,
leading to a financial loss. The Company and its Subsidiary manage credit risk from customers
by conducting careful credit analysis and approval, as well as monitoring the balance of
receivables on an ongoing basis to minimize bad debts.
Overview of the Company and its Subsidiary exposure to credit risk
The carrying amount of financial assets recorded in the consolidated financial statements, net
of any allowance for losses, represents the Company and its Subsidiary’s exposure to credit
risk.
27. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (continued)
a. Credit Risk (continued)
Overview of the Company and its Subsidiary exposure to credit risk (continued)
The Company and its Subsidiary’s current credit risk grading framework comprises the following
categories:
55

AND ITS SUBSIDIARY
Basis for recognizing

Category Description ECL
Performing The counterparty has a low risk of default and does 12-month ECL
not have any past-due amounts.
Doubtful Amount is >30 days past due or there has been a Lifetime ECL - not credit-
significant increase in credit risk since initial impaired
recognition.
In default Amount is >90 days past due or there is evidence Lifetime ECL - credit-
indicating the asset is credit-impaired. impaired
Write-off There is evidence indicating that the debtor is in Amount is written off
severe financial difficulty and the Company and its
Subsidiary has no realistic prospect of recovery.
The table below details the credit quality of the Company and its Subsidiary’s financial assets
as well as maximum exposure to credit risk by credit risk rating grades:
2022
External Internal Gross
Credit Credit 12-month or lifetime carrying Loss Net carrying
December 31, 2022 Rating Rating ECL Amount allowance amount
Cash and cash equivalents

(Note 4) AAA Performing 12-month ECL 46,936,173,450 - 46,936,173,450
Time deposits (Note 5) BBB Performing 12-month ECL 48,084,719,917 - 48,084,719,917
Lifetime ECL
Trade receivables (Note 6) N/A (i) (simplified approach) 175,728,788,045 (34,724,025,379) 141,004,762,666
Employee receivables AAA Performing 12-month ECL 771,060,000 - 771,060,000
Other receivables -
related party AAA Performing 12-month ECL 1,414,924,815 - 1,414,924,815
272,935,666,227 (34,724,025,379) 238,211,640,848

a. Credit Risk (continued)
2021
External Internal Gross
Credit Credit 12-month or lifetime carrying Loss Net carrying
December 31, 2022 Rating Rating ECL Amount allowance amount
56

AND ITS SUBSIDIARY
Cash and cash equivalents

(Note 4) AAA Performing 12-month ECL 98,484,246,768 - 98,484,246,768
Time deposits (Note 5) BBB Performing 12-month ECL 76,493,496,823 - 76,493,496,823
Lifetime ECL
Trade receivables (Note 6) N/A (i) (simplified approach) 154,614,044,802 (14,729,243,851 ) 139,884,800,951
Employee receivables AAA Performing 12-month ECL 2,102,742,500 - 2,102,742,500
Other receivables -
related party AAA Performing 12-month ECL 1,414,924,815 - 1,414,924,815
333,109,455,708 (14,729,243,851 ) 318,380,211,857
(i) For trade receivables, the Company and its Subsidiary have applied the simplified approach
in PSAK 71 to measure the loss allowance at lifetime ECL. The Company and its Subsidiary
determines the expected credit losses on these items by using a provision matrix, estimated
based on historical credit loss experience based on the past due status of the debtors,
adjusted as appropriate to reflect current conditions and estimates of future economic
conditions. Accordingly, the credit risk profile of these assets is presented based on their
past due status in terms of the provision matrix. Notes 5 include further details on the loss
allowance for these assets respectively.
b. Market Risk
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate
because of changes in market prices. The Company and its Subsidiary are exposed to market
risks, in particular, interest rate risk and foreign currency exchange risk.
Foreign currency exchange risk
Foreign currency exchange risk is the risk that the fair value or future cash flows of a financial
instrument will fluctuate because of changes in foreign exchanges rates. The Company and its
Subsidiary are exposed to foreign exchange risk primarily arises from recognized monetary
assets and liabilities that are denominated in a currency that is not the Company and its
Subsidiary’s functional currency.
The Company and its Subsidiary closely monitor the foreign exchange rate fluctuation and
market expectation so they can take necessary actions benefited most to the Company and its
Subsidiary in due time.
b. Market Risk (continued)
Foreign currency exchange risk (continued)
The following table demonstrates the sensitivity to a reasonably possible change in the foreign
57

AND ITS SUBSIDIARY
currency against Rupiah, with all other variables held constant, to the Company and its
Subsidiary’s loss before tax for the years ended December 31, 2022 and 2021:
Increase Effect on
(Decrease) loss
In Rp Rate before tax
December 31, 2022 3% 302.973.617

US$ -3% (302.973.617 )
December 31, 2021

US$ 1% 375,501,585
-1% (375,501,585 )
The Company and its Subsidiary’s significant monetary assets denominated in foreign
currencies as of December 31, 2022 and 2021 was presented in the Note 25.
c. Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will
fluctuate because of changes in market interest rates. The exposure to the risk of changes in
market interest rates relates primarily to the Subsidiary’s short-term debt obligations with
floating interest rates.
The following table demonstrates the sensitivity to a reasonably possible change in interest
rates on the floating interest loans, with all other variables held constant, to loss before tax for
the years ended December 31, 2022 and 2021:
Increase Effect on
(decrease) loss
in basis points before tax
December 31, 2022 and 2021 100 35,000,000

-100 (35,000,000 )
58

AND ITS SUBSIDIARY
d. Liquidity Risk
Liquidity risk is the risk that the Company and its Subsidiary are unable to meet its obligations
when they fall due. The management evaluates and monitors cash - in flows and cash - outflows
to ensure the availability of fund to settle the due obligation. In general, fund needed to settle
the current and long - term liabilities is obtained from sales activities to customers.
In general, the need for funds to pay off short-term and long-term liabilities that are due is
obtained from sales to customers.
The tables below summarize the maturity profile of the Company and its Subsidiary’s financial
liabilities based on contractual undiscounted payments at December 31, 2022 and 2021:
All of the Company's financial liabilities mature within one year from the end of the reporting
period, with details as follows:
2022 2021
Trade payables - third parties 23,603,400,660 16,897,309,385

Accrued expenses 535,000,000 515,000,000
Dividends payable 2,054,266,175 2,054,266,175
Bank loans 35,000,000,000 35,000,000,000
Lease liabilities 602,735,117 -
Total 61,795,401,952 54,466,575,560
e. Capital Risk Management

The Company and its Subsidiary are faced with the risk of capital to ensure that the Company
and its Subsidiary to continue as a going concern, other than maximizing returns for
shareholders, through the optimization of the debt and equity balance.
The Board of Directors of the Company and its Subsidiary periodically review their capital
structure. As part of this review, the Board of Directors consider the cost of capital and risk-
related. The Company and its Subsidiary manage the risk through monitoring Debt to Equity.
The Company and its Subsidiary manage its capital structure and makes adjustments to it, in
light of changes in economic conditions. To maintain or adjust the capital structure, the
Company and its Subsidiary may adjust the dividend payment to shareholders, issue new
shares or raise debt financing. No changes were made in the objectives, policies or processes
for the years ended December 31, 2022 and 2021.
59

AND ITS SUBSIDIARY
e. Capital Risk Management (continued)
The debt to equity as of December 31, 2022 and 2021 are as follows:
2021 (As restated

2022 Note 31)
Bank loan 35,000,000,000 35,000,000,000

Equity 474,814,738,259 465,822,725,534
Debt to equity ratio 0.07:1 0.08:1
28. BASIC EARNINGS (LOSS) PER SHARE
The following reflects the loss for the year and share data used in the basic loss per share
computations in 2022 and 2021:
2022 2021
Income (Loss) for the year 2,314,362,759 (8,737,689,655 )
Weighted average number of ordinary

shares outstanding 520,160,000 520,160,000
Basic loss per share 4 (17 )
29. FINANCIAL INSTRUMENTS
A. Categories and Classes of Financial Instruments
Financial assets at amortized cost
2022 2021
Current financial assets

Cash and cash equivalents 46,936,173,450 98,484,246,768
Time deposits 48,084,719,917 37,493,496,823
Trade receivables
Related parties 22,724,657,316 30,091,393,423
Third parties 118,280,105,350 109,793,407,528
Employee receivables 771,060,000 2,102,742,500
Non-current financial assets
Restricted time deposits 35,000,000,000 39,000,000,000
Other receivables - related party 1,414,924,815 1,414,924,815
Total financial assets 273,211,640,848 318,380,211,857
60

AND ITS SUBSIDIARY
29. FINANCIAL INSTRUMENTS (continued)
A. Categories and Classes of Financial Instruments (continued)
Liabilities at amortized cost
2022 2021
Current financial liabilities

Trade payables - third parties 23,603,400,660 16,897,309,385
Accrued expenses 535,000,000 515,000,000
Dividends payable 2,054,266,175 2,054,266,175
Bank loans 35,000,000,000 35,000,000,000
Lease liabilities 602,735,117 -
Total financial liabilities 61,795,401,952 54,466,575,560
B. Fair Value Measurements
The Directors considers that the carrying amounts of financial assets and financial liabilities
recognized in the consolidated financial statements approximate their fair values.
30. SUPPLEMENTARY INFORMATION FOR CASH FLOWS
a. Significant non-cash investing activities
2021
NON-CASH INVESTING ACTIVITIES

Acquisition of property, plant and equipment
through trade receivables 4,500,000,000
b. Reconciliation of liabilities arising from financing activities
2022
Cash Flow
Transactions Non-Cash Movement
Addition to Amortization December 31,

January 1, 2022 Payment right-of-use finance costs 2022
Lease liabilities - (720,000,000 ) 3,268,780,926 43,479,921 2,592,260,847
61

AND ITS SUBSIDIARY
30. SUPPLEMENTARY INFORMATION FOR CASH FLOWS (continued)
b. Reconciliation of liabilities arising from financing activities (continued)

2021
Cash Flow
Transactions Non-Cash Movement
Addition to Amortization December 31,

January 1, 2021 Payment right-of-use finance costs 2021
Lease liabilities 846,423,382 (853,000,000 ) - 6,576,618 -
31. IMPLEMENTATION OF THE DSAK IAI PRESS RELEASE ON REQUIREMENTS FOR

ATTRIBUTING REWARDS IN THE SERVICE PERIOD
In April 2022, DSAK-IAI published explanatory material via a press release on the requirements for
attributing benefits during the service period in accordance with PSAK 24: Employee Benefits
adopted from IAS 19 Employee Benefits. The explanatory material conveys information that the
general fact pattern of pension programs based on the current Labor Law in Indonesia has a fact
pattern similar to that responded to and concluded in the IFRS Interpretation Committee (“IFRIC”)
Agenda Decision Attributing Benefit to Periods of Service ( IAS 19).
The Company and its Subsidiaries have implemented the explanatory material and thereby
changed the accounting policy regarding the attribution of employee benefits to the service period
from the previously implemented policy, so that the financial statements of the Company and its
Subsidiaries as of December 31, 2021 and for the year ended on that date have been presented.
as follows:
31 Desember 2021
Adjustments to the
Implementation of
the DSAK IAI Press
As previously Release Related to
presented PSAK 24 As Restated
STATEMENT OF FINANCIAL
POSITION
NON-CURRENT ASSETS
Deferred tax assets - net 31,044,813,959 (5,776,163,194 ) 25,268,650,765
Long-term employee benefits liability 101,318,685,713 (26,255,287,246 ) 75,063,398,467
EQUITY
Retained earnings
Unappropriated 381,454,971,274 20,429,124,039 401,884,095,313
62

AND ITS SUBSIDIARY
31. IMPLEMENTATION OF THE DSAK IAI PRESS RELEASE ON REQUIREMENTS FOR

ATTRIBUTING REWARDS IN THE SERVICE PERIOD (continued)
31 Desember 2021
Adjustments to the
Implementation of
the DSAK IAI Press
As previously Release Related to
OPERATING EXPENSES
General and administrative (81,469,781,794 ) 2,317,035,870 (79,152,745,924 )
OTHER COMPREHENSIVE INCOME

Remeasurement of employee
benefits liability 7,514,038,637 (2,355,318,983 ) 5,158,719,654
Related income tax (1,008,795,540 ) 452,086,838 (556,708,702 )
31 Desember 2020
Adjustments to the
Implementation of
the DSAK IAI Press
As previonsly Release Related to
STATEMENT OF FINANCIAL
POSITION
NON-CURRENT ASSETS
Deferred tax assets - net 29,005,920,311 523,382,146 29,529,302,457
Long-term employee benefits liability 94,234,008,759 (26,293,570,359 ) 67,940,438,400
EQUITY
Retained earnings
Unappropriated 379,252,821,512 26,816,952,504 406,069,774,016
63

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PT LION METAL WORKS Tbk 1 ANNUAL REPORT 2022

Daftar Isi / Contents

IKHTISAR DATA KEUANGAN

ANALISA DAN PEMBAHASAN MANAJEMEN

TATA KELOLA PERUSAHAAN

TANGGUNG JAWAB SOSIAL PERSEROAN

PT LION METAL WORKS Tbk 2 ANNUAL REPORT 2022

Kantor Pusat & Pabrik

Pabrik Sidoarjo Pemegang Saham

Situs Kode Saham

Surel Nominal per Saham

PT LION METAL WORKS Tbk 3 ANNUAL REPORT 2022

Uraian 2022 2021 2020 Description

Posisi Keuangan / Financial Position

Aset Tidak Lancar 211.118,51 213.173,97 221.749,72 Non Current Assets

Total Aset 684.497,88 686.806,55 648.353,24 Total Assets

Total Liabilitas 209.683,14 220.983,82 178.394,84 Total Liabilities

Total Ekuitas 474.814,74 465.822,73 469.958,40 Total Equity

Investasi Asosiasi 59.999,00 59.999,00 59.999,00 Investment in Associates

Modal Kerja Bersih 338.082,00 327.712,15 316.149,12 Net Working Capital

Laba-Rugi / Profit and Loss

Laba Bruto 147.102,07 101.827,45 99.620,69 Gross Profit

Laba (Rugi) Usaha 4.149,73 (9.419,81) (11.999,59) Operating Income (Loss)

EBITDA 17.414,94 9.958,42 5.457,08 EBITDA

Total Laba (Rugi) Komprehensif Total Comprehensive

Laba (Rugi) Usaha 144,05% 21,50% (307,85)% Operating Income (Loss)

Total Aset (0,34)% 5,93% (5,77)% Total Assets

Ekuitas 1,93% (0,88)% 0,27% Equity

PT LION METAL WORKS Tbk 4 ANNUAL REPORT 2022

Uraian 2022 2021 2020 Description

Rasio Profitabilitas / Profitability Ratio

Operation Income (Loss)

Laba (Rugi) Usaha terhadap Operation Income (Loss)

Laba (Rugi) Neto terhadap Net Income (Loss)

Laba (Rugi) Neto terhadap Total Net Income (Loss)

Rasio Likuditas / Liqudity Ratio

Rasio Cepat 1,78 1,93 2,51 Quick Ratio

Rasio Solvabilitas / Solvency Ratio

Rasio Aktivitas / Activity Ratio

Perputaran Total Aset 0,60 0,44 0,46 Total Assets Turnover

Informasi Saham / Stock Information

PT LION METAL WORKS Tbk 5 ANNUAL REPORT 2022

Penjualan / Sales Total Aset / Total Assets

dalam jutaan Rp / In million Rp

dalam jutaan Rp / In million Rp

(9,571) (8,738) (9,420)

2018 2019 2020 2021 2022

PT LION METAL WORKS Tbk 6 ANNUAL REPORT 2022

Jumlah Saham Harga Saham (Rp) / Stock Price

II 520.160.000 450 300 376 11.670.900 195.580.160.000

III 520.160.000 476 354 420 1.912.700 218.467.200.000

IV 520.160.000 880 372 845 7.930.000 439.535.200.000

Grafik Harga Saham dan Volume Perdagangan

PT LION METAL WORKS Tbk 7 ANNUAL REPORT 2022

Tanggal Pembayaran Dividen per Dividen Tunai Laba/Rugi Neto

2017 26-07-2018 Rp15,- 7.802.400.000 9.282.943.009

2018 23-07-2019 Rp10,- 5.201.600.000 14.679.673.993

Informasi Sanksi Perdagangan Saham

Sepanjang 2022, tidak terdapat

During Year 2022, there was no

PT LION METAL WORKS Tbk 8 ANNUAL REPORT 2022

PT Lion Metal Works Tbk terus

Team Spirit Commitment