pt sarana multi infrastruktur (persero) · imbt= ijarah muntahia bittamlik mmq= musyarakah...

A LEADING CATALYST IN FACILITATING INDONESIA’S INFRASTRUCTURE DEVELOPMENT

COMPANY PROFILE

PT SARANA MULTI

INFRASTRUKTUR (PERSERO)

July 2017

PT SMI as a Catalyst in Accelerating Infrastructure Development

Status

Duties

Vision

Mission

▪ Year Established : 2009

▪ Type : State-Owned Enterprise

▪ Regulation : MoF Regulation No.

100/PMK.010.2009 on Infrastructure

Financing Companies

▪ Business License : Non-Bank Financial Institutions (NBFI)

▪ Supporting Government’s infrastructure development

agenda through partnerships with private and/or

multilateral financial institutions in PPP projects

▪ Serve as catalyst in accelerating infrastructure

development in Indonesia

100% owned by the Government of Indonesia

To serve as catalyst in accelerating national infrastructure

development

1. To become a strategic partner that delivers value added

contributions to Indonesia’s infrastructure development

2. To develop flexible financing products

3. To offer service excellence backed with good corporate

governance

Ownership

2

Capital Injection

from GOI

Capital Market

(Bonds, Notes,

Securitization)

Loans and

Grants

BPJS, Sharia

Insurance

Sharia Capital

Market

Hajj & Syirkah

Funds

Sovereign Wealth

Fund

Our Business Model

Sectoral FocusSources of Funds

Co

nve

nti

on

al

Sh

ari

a*

FINANCING &

INVESTMENT

Infrastructure

Financing

Municipal Financing

(PIP/RIDF)

• Senior loan (Working

Capital, Investment

Loan)

• Junior Loan

• Mezzanine

• Equity investment

• Arranger & Underwriter

• Standby Lender PPP

Public Sector

Advisory

Training & Capacity

Building

Investment

Advisory

Financial

Advisory

Project

Development

Facility (PDF)

PDF & Donor Fund

Management

TA & Donor Funds

Management

PPP Project

Renewable Energy Project

(Geothermal Exploration)

Municipal Projects

IMBT/Lease with

Option to Own

Murabahah/Installmen

t Sale with Deferred

Payment

MMQ/Diminishing

Partnership

Musyarakah/

Partnership Financing

Technical

Assistance

CONSULTATION

SERVICES

PROJECT

DEVELOPMENT

Donor Fund

Management

PT SMI Business Pillars

Electricity

& Energy

Efficiency

Road and

Bridge

Transportation Telecommunicatio

n

Irrigation

Oil and

Gas

Waste Water &

Waste Management

Train Rolling

Stock

Water

SupplyRenewable

Energy

Regional

Infrastructure

Correctional

InfrastructureHospital

MarketTourism

Infrastructure

Social Infrastructure

Education

Infrastructure

3IMBT= Ijarah Muntahia Bittamlik MMQ= Musyarakah Mutanaqisah

State Owned Company (BUMN)

• To be strategic partner of government

as a catalyst in the acceleration of the

infrastructure development in Indonesia

• Strong support from the Government

• Capacity Building

• Project Development Facility

• Technical Assistance

Flexible Funding

1

2

3

4

5

Unique product offerings

• Loan, mezzanine, equity

• Municipal financing

• Conventional and Sharia financing

Value Proposition of PT SMI

4

• Capital market

• Multilateral/Bilateral

• Lenders

• Paid up capital

Excellent service and

competency

It is not just the services of

the Relationship Manager

that is important but also the

competency and industry

knowledge

Various Financing and Investment Product of PT SMI

Financing and Investment Product Can Be Applied

Both in Conventional and Sharia Principle

• Investment Loan

• Take-Out

Financing

• Promoter

Financing

• Working Capital

Loan

• Bridging Financing

• Sharia Financing

20-30%

Equity

Equity

Subordinated Loan

Mezzanine

ConvertiblesQu

asi-

Eq

uit

y

Long-Term

(> 5 years)

Short-term

(1-5 years)

Based on Project Financing Structure Based on Project Financing Tenor

Financing and

Investment Product

• Investment Loan

• Take-Out Financing

• Promoter Financing

• Subordinated Loan

• Sharia Financing

• Mezzanine

• Equity Investment

Financing Product

• Working Capital Loan

• Bridging Financing

• Cash Deficiency

Support (CDS)

Pro

ject

Fin

an

cin

g S

tru

ctu

re

70-80%

Debt

5

Project Location Mix

Execution of Mandate as Catalyst of Infrastructure DevelopmentFinancing and Investment

Financing Sectors

Multiplier Effect

Long-term and

Flexible Scheme

Maturity Up to 25 Years

Grace Period Up to 15 Tahun

PT SMI’s Mandate

Long-term financing

Innovative Financing Product

Flexible Financing Scheme

Large Multiplier effect

Competitive interest rate

as of July 2017

Example: Toll Road Financing of

Palembang - Indralaya

Total Project Cost

IDR 264.9 Trillion

Multiplier Effect

5.8 times to Financing

Commitment

9.3 times to Paid-up Capital

Toll Road32.45%

PT PLN (Ex-PIP)17.64%

Electricity15.29%

Transportation8.46%

Oil and Gas6.67%

Telecommunication

4.22%

Road4.10%

Irrigation3.69%

Social (Hospital)…

Rolling Stock2.36%

Water1.65%

Social (Market)0.29%

Social (Terminal)0.08%

Jawa40.90%

Sumatera23.09%

Sulawesi13.58%

Kalimantan 10.49%

Bali Nusa Tenggara

6.26%

Papua Maluku5.69%

6

Financed Project CostCommitment and Outstanding

Diversification of Financing Activitiesas of July 2017

*Including loan to PLN, Local Government, and Equity Investment

in IDR billion

7

Commitment by Product Outstanding by Product

4.477

2013

1.1963.087

2012

2.2225.5774.262

2015

45.444

2016

44.896

30.442

23.004

17.083

31-Jul-172014

28.985

Outstanding

Commitment

Total

Project Cost

31-Jul-17

41.293

50.084

95.754

2016up to 2013

38.181

20152014

39.642

264.954

Investment

LoanBridge Loan

Working

Capital Loan

Subordinated

Loan

Promoter

Financing

Equity

Investment

IDR27.8 Tr IDR2.9 Tr IDR7.0 Tr IDR1.2 Tr IDR0.7 Tr IDR2.9 Tr

Investment

LoanBridge Loan

Working

Capital Loan

Subordinated

Loan

Promoter

Financing

Equity

Investment

IDR20.8 Tr IDR1.5 Tr IDR2.2 Tr IDR1.1 Tr IDR0.5 Tr IDR1.7 Tr

Investment Loan

65.09%

Working Capital Loan

6.96%

Bridge Loan16.47%

Promotor Financing

1.75%

Subordinated Loan

2.88%

Equity Investment

6.85%

Investment Loan

74.54%

Working Capital Loan

5.46%

Bridge Loan7.85%

Promotor Financing

2.00%

Subordinated Loan

3.84%

Equity Investment

6.31%

1.519

2.339

744598424

226

20142013

+42,1%

Jun-17201620152012

707

305245207107

1.213

20152014

+41,8%

Jun-17201620132012

Net Income (Rp Billion)

46.915

32.714

9.1697.0885.132

+50,5%

Jun-172016

44.332

2015201420132012

Total Asset (Rp Billion)

31.392

25.432

4.7854.5454.310

2012 2013

30.835

2015

+44,3%

Jun-1720162014

Total Equity (Rp Billion)

Financial Performance of PT SMICorporate Rating: AAA

2011 (Audited) 2012 (Audited) 2013 (Audited) 2014 (Audited) 2015 (Audited) 2016 (Audited)

Financial

Statements

Opinion

Unqualified

Opinion

Unqualified

Opinion

Unqualified

Opinion

Unqualified

Opinion

Unqualified

Opinion

Unqualified

Opinion

Soundness LevelA

AAA AA AAA AAA AAA AAA

Rating

DomesticAA/Stable

(Fitch Ratings)

AA+/Stable

(Fitch Ratings)

AA+/Stable

(Pefindo & Fitch)

AA+/Stable

(Pefindo & Fitch)

AAA/Stable

(Pefindo)**

Interna-

tional

BBB-/Stable

(Fitch Ratings)

BBB-/Stable

(Fitch Ratings)

BBB-/Stable

(Fitch Ratings)

BBB-/Stable

(Fitch Ratings)

Total Revenue (Rp Million)

8

Social Economic Benefit of Financed ProjectsAs of July 2017

PT SMI’s Portfolio

Electricity o Generator Capacity

1.791 MW

o Lighting to ±2 million homes

or ±8 million people

Clean Water &

Irrigation

o Clean water production

capacity 14.140 liter/second

o Clean water contribution 2

million homes or 8,1 million

people

o Watering 185 thousand ha

farm area

Toll Roads o Road length 2.019 km

(including public road)

o Absorbs ±1,7 million of

workforce

Air & Sea Port o Servicing 37.5 million

passengers per year (Air

Transport)

o Increases goods flow to 2.26

million TEUs per year (Sea

Transport)

PT SMI’s Portfolio

o Addition of 80 electric train and

438 railway coach

revitalization

o Increases passengers capacity

to 7.3 million per year

Urban Transport

o Addition of 31,000 bpd Fuel

production

o 11.8 million m3 gas per day

o Increases capacity of 10,000 MT

gas supply

o Gas supply of 21,000 homes

Oil and Gas

o Addition of 42 new hospital

rooms

o Facility for 720 new patient/year

Social

Infrastructure

o 52.000 telecommunication

towers projecto Serving 76 million users of

telecommunication services in

Indonesia

o 2.700 KM fiber optic network

Telecommunic

ation

PT SMI’s Portfolio Projects

9

Scope of

Business

Advisory Project Development

• Improving the quality of the investment

package of infrastructure projects

• Coordinating the required expertise in

project management (project management

office)

• Enhancing standards of project

governance and execution

• Managing communication and work

strategies between stakeholders

(stakeholder management)

• Helping the project owner in the

readiness of viable investment projects

• Providing consulting services to identify

opportunities and challenges of

infrastructure projects

• Providing services to help obtain or to

utilize investment funds

• Opening access to the project market

(investors, lenders, etc.)

Types of

Product

Project Development Facility

National/

Priority

Regional/

Municipal

Renewables

EnergyFinancial

Advisory

Investment

Advisory

Capacity

Building

Public Sector Private Sector

Advisory and Project Development Business PillarsPlay as an "Enabler“ in Accelerating Infrastructure Development

10

PPP Project Status

Palapa

Ring*

Ministry of

Communication

and Informatics

• Western Package: Financial

Close

• Central Package: Financial

Close

• Eastern Package: Financial

Close

Water Supply System

UmbulanEast Java Province

LRT

Medan City of Medan

Pre-Qualification For The

Procurement Of Business

Entity

PT SMI’s Role as the Catalyst in the PPP Project Preparation

through PDF Facility**

Water Supply System

Lampung

Mandate Potentials

Contracting

AgencyProject Value

City of Bandar

Lampung

Government Support

Rp 2.05 Trillion(~USD 183.52 Million)

Rp 700 Billion(~USD 52.52 Million)


• Govt Guarantee through IIGF

• Viability Gap Funding (VGF)






Financial Close

OBC done, Arranging FBC

* Palapa Ring project uses the Availability Payment scheme as the investment return mechanism ** PDF is the Project Development Facility

West Package

Middle

Package

East Package




Toll Road SectorHospital

SectorWater Supply

System Sector2 1 2

11Exchange Rate: 1 USD = Rp13,327

Sam Ratulangi

University Hospital

Ministry of Research

and Higher

Education

MOF Principle ApprovalToll Road of Surabaya-

Madura Bridge

Ministry of Public

WorksRp 1.3 Trillion(~USD 1 00 Million)

Rp 387,23Billion(~USD29.01 Million)

• -

• - MOF Principle Approval

Sustainable Finance

Initiatives

The Role of PT SMI as a Catalyst in Infrastructure Projects

For Supporting Sustainable Development Goals (SDGs)

1. Establishment of Sustainable

Finance Division

2. PT SMI has been accredited

by Green Climate Fund

(GCF)

3. Signing of Accreditation

Master Agreement (AMA)

with GCF

Environmental and

Safety Management

Frameworks (ESMF)

1. PT SMI actively support

Sustainable Development

Goals (SDGs)

2. Guidelines of Environmental

and Safety Management

Frameworks (ESMF)

3. Public Consultation of ESMF

guidelines

1. Managing geothermal fund

from the Government

Investment Agency (PIP)

(Rp 3,1 trillion)

2. Grant Agreement with the

World Bank Group (CTF and

GEF Fund) with amounting of

USD 55,25 million for the

exploration of geothermal

energy

Geothermal Fund

Init

iati

ves

Activitie

s

1 2 3

12

Co-Financing

Strategic Partnerships in Co-Financing Activities

13

Strategic Partnerships with Bilateral/Multilateral Institutions

Bilateral/Multilateral Institution

Agence Francaise de

Developpement (AFD)

Soft Loan + Grant for

Energy Efficiency and

Renewable Energy

Scope of

Cooperation

Asian Development Bank

(ADB)MoU for PPP

Transaction Advisory

Cities Development Initiative

for Asia (CDIA)

Capacity Building

related with urban

development

Temasek FoundationCapacity Building

related with PPP

Korea Development Bank

(KDB)

MoU for PPP

Exchange of

Information

Scope of

Cooperation

World Bank Group

Asian Infrastructure

Investment Bank (AIIB)

• Geothermal Fund

(GEF and CTF)

• RIDF for Municipal

Financing

Asian Development Bank

(ADB) dan German

Development Bank (KfW)

SIGAP Program

• Environmental

ESMS

• TA for Municipal

Financing

Islamic Development Bank

(IDB)

MoU for Indonesia

Investment Fund and

Cooperation

Green Climate Fund (GCF)PT SMI as

Accredited Entity

Gesellschaft für Internationale

Zusammenarbeit (GIZ)

(Under Discussion)*

Soft Loan + Grant

• Renewable Energy

• Energy Efficiency

Street Lighting

• Sustainable Urban

Transport (BRT)

14

Bilateral/Multilateral Institution

*The partnership is under discussion

Korea Development Bank (KDB)

China Development Bank (CDB)

Development Bank of Japan

(DBJ)

Benchmarking Studies

and Information

Sharing

Bajulmati Reservoir,

Banyuwangi

Electric Train Rolling Stock

Project for INKA

Soekarno Hatta

Airport Rail Link

Water Supply Project

Jakarta

Mini Hydro Power Plant,

Mobuya, North Sulawesi

Coal-Fired Power Plant

Tanah Grogot, East Kalimantan

Coal Gasification Power Plant,

West Kutai

Bridge Project

Kali Api, Manokwari

Dekai-Oksibil

Road Project, Papua

Hydro Power Plant

Asahan, North Sumatera

Hydro Power Plant, Humbahas,

North Sumatera

Mini Hydro Power Plant South

Solok, West Sumatera

Mini Hydro Power Plant

Lebong, Bengkulu

Citarum Drainage Project,

Karawang-Bekasi, West Java

Cikopo-Palimanan Highway

West Java

Gas-Fired Power Plant,

Tanjung Uncang, Batam

Umbulan Water Spring,

East Java

Ngawi – Kertosono Toll Road

River Kujang Drainase

Project, Samarinda

Paselloreng Dam Project,

Wajo, South Sulawesi

Bridge Wariki

Project Manokwari

Tugu Station and Pedestrian

Revitalization, Yogyakarta

Lolak Dam, Bolaang

Mongondow, North Sulawesi

Wundulako Irrigation

Kolaka, Southeast Sulawesi

Jeneponto-Bantaeng Road,

South Sulawesi

Wind Energy Power Plant

Sumba and Lebak

Cinere - Jagorawi

Toll Road, West Java

Coal Train, East

KalimantanCoal-Fired Power

Plant Project, Gorontalo

Bulk Port, Tuban

East Java

Bulk Port, Gresik

East Java

Marisa Port,

Gorontalo

Floating, Storage

Offloading, Madura

Floating, Storage Offloading

Natuna, Riau Islands

Mass Rapid Transit

Project, Surabaya

Logistic Murphy Semai Oil,

Fakfak

Arar Port Project

Sorong

Container Port Project Development

and Supporting Facilities at Palaran

Port, East Kalimantan

Solo – Ngawi Toll Road

• BTS Tower, Shelter

throughout Indonesia

• Working Capital in

Telecommunication

Port Container & Cigading

Port, Cilegon

Mini Hydro Power Plant, South

Solok, West Sumatera

Investment Planning Project at

Lombok Airport (Development)

Panaran Gas-Fired Power

Plant, Batam

1

1

2

3

3

4

4

6

6

88

5

5

7

7

9

9

1010

11

11

12

1213

13

14

14

15

15

16

16

17

17

18

1819

20

20

21

21

23

23

24

24

25

25

26

26

2222

27

27

29

29

30

30

31

32

32

33

33

34

34

35

35

36

36

37

37

38

38

39

39

40

40

42

42

41

41

43

43

45

45

46

4647

47

44

44

48

48

49

49

50

50

51

51

28

28

52

52

53

53

54

54

55

55

31

Passenger Terminal Project

Supadio Airport

Pontianak, West Kalimantan

56

56

Expansion Project of Tanjung Priok

Port, Jakarta57

Soekarno-Hatta Airport

Development

Gas Pipeline Construction,

Batam58

58

57

Electrical Substation at

Kalibaru Port, Tanjung Priok

Corporate Business Plan, Banten

Activity Based Costing, Tanjung

Perak Surabaya, East Java

59

60

61

59

60

61

Medan – Binjai Toll Road

(Trans Sumatera Toll Road),

North Sumatera

Pejagan – Pemalang Toll

Road (Trans Java Toll

Road), Cenral Java

62

Semarang-Solo Toll Road,

Central Java

Working Capital for

Toll Road Improvement,

Central & East Java

63

Working Capital for Port

Operations, Banten

Power Plant, Musi Banyuasin

South Sumatera

Power Plant, Kendari

Southeast Sulawesi

Mandalika Special Economic

Zones, Lombok, West Nusa

Tenggara

Biogas Power Plant, Rokan Hulu

Riau

2

64

Leasing Rolling Stock Scheme in

corporation with PT KAI, Jakarta

65

67

Electricity Capex

Projects

Lavalette Hospital, Malang

East Java68

68

69 Port Development project in

Jayapura

70

70

7071

proyek | Advisory Servicesproyek | Financing and Investment 20proyek | Project Development670

Palembang – Indralaya Toll

Road (Trans Sumatera Toll

Road), South Sumatera

Coal-Fired Power Plant,

Lobam, Bintan

Jabung Irrigation Project,

East Lampung

Water Treatment & Supply,

Cipasauran, Banten

Gas Pipeline Construction

for Households, Tarakan,

West Kalimantan

34

72

73Lampung City Water Treatment

Project, Bandar Lampung

73

69

Marunda Port Project

West Java

Palaran Port Project,

Samarinda, East Kalimantan

74

proyek | Equity2

New Jogja International Airport

Jogjakarta

Bakauheni – Terbanggi Besar

(Trans Sumatera Toll Road),

Lampung

Bogor Toll Ring Road

West Java

Palembang Light Rapid

Transit (LRT) Project

South Sumatera

Garongkong Port

South Sulawesi

Central Palapa Ring

Project

75

Rentang Irrigation

Majalengka, West Java

76

Water Treatment & Supply

Project, Tegal Gede, Bekasi19

Project Preparation for Water

Supply Project, Karawang,

West Java

Titab Reservoir Project

Buleleng, Bali62

Financial Advisor for Kertajati

Airport Development, West Java

63Waste to Energy Project,

Nambo, West Java

Case Study of Integrated

Railway and Kualanamu

Airport, North Sumatera64

Mini Hydro Power Plant

Lau Gunung, North Sumatera65


Tenayan, Riau66

Sosok – Tayan & Tanjung –

Sanggau Road, West Kalimantan

67

Entikong Borderline Road,

West Kalimantan

Palapa Ring Project70

Local Government

infrastructure

development

assistance

71

Penajam Port Project,

East Kalimantan72

Jasamarga Pandaan

Malang Toll Road74

Waskita Toll Road

75Gas-Fired Power Plant

Megang, South Sumatera


Sumsel 300 MW

South Sumatera

76 Rotiklot Dam, Belu

NTT

Portfolio Distribution Across Indonesia

Best Local

Strategic

Partner

Expertise in

Indonesian

Infrastructure

Market

Liaison with

Local

Authorities

Provide

Advisory and

other services

Government

Arm’s Length

Public and Private Sector Strategic Partner to

Accelerate The Development Of Infrastructure

Have extensive

experience in the

Indonesian

infrastructure market

Have extensive networking

with local authoritiesProvide advisory and catalytic activities

(knowledge and technical support)

100% owned by

Government of

Indonesia under

Ministry of FinanceInfrastructure

Financing

Company

Why Collaborate with PT SMI?

PT SMI will be the Best Local Strategic Partner and Liaison for Investing

in Indonesian Infrastructure Market

16

Institutional &

Public/Private

Investor

A LEADING CATALYST IN FACILITATING INDONESIA’S INFRASTRUCTURE DEVELOPMENT

THANK YOU

Contact Us:

PT Sarana Multi Infrastruktur (Persero)

Sahid Sudirman Center, 48th Fl.

Jl. Jend. Sudirman No. 86, Jakarta 10220

Indonesia

(62-21) 8082 5288 (hunting),

(62-21) 8082 5258 (fax)

Website : www.ptsmi.co.id

Email : [email protected]

#baktiuntuknegeri

pt sarana multi infrastruktur (persero) · imbt= ijarah muntahia bittamlik mmq= musyarakah...

Documents