material various positions at pt pertamina (persero) since 1990, including: 1. manager supply chain...

www.elnusa.co.id

MATERIALAnnual General Meeting of Shareholders

PT Elnusa Tbk

Meeting Schedule

Thursday, 11th April 2019Date/Day

2

Time

Venue

13.30 WIB - finish

Ruang Udaya - Graha Elnusa 1st floorJl. TB Simatupang kav 1B Jakarta Selatan

Meeting Agenda

Approval for the 2018 AnnualReport including theSupervisory Report of Board ofCommissioners and Validationof the Company’s FinancialStatements for the year endingon December 31, 2018.

1

2Determination of the use ofCompany’s Net Profit in 2018Fiscal Year.

3

Appointment of PublicAccountant to Audit theCompany’s Annual FinancialCalculation for 2019 FiscalYear.

4

5 Approval for the Changes in the Company’s Management.

Determination of Tantiem for2018 and Remuneration for2019 for members of Board ofDirectors and Board ofCommissioners.

3

6Approval of Amandement to the Articles of Association.

The Company’s Annual Report for the fiscal year ended on December 31, 2018 containing Report onthe Supervisory of the Board of Commissioners and Company’s Financial Statements which alreadyaudited by the Public Accounting Firm of Purwantono, Sungkoro & Surja member of Ernst & YoungGlobal Limited Firm as submitted to the Independent Auditor Report dated February 14, 2019,00064/2.1032/AU.1/02/0701/1/1/II/2019 with present fairy in all material respects opinion.

Material Agenda 1 are listed on Company’s Annual Report in 2018 fiscal year, which integrated withSupervisory of the Board of Commissioners and the Consolidated Financial Statements for fiscal yearended on December 31, 2018 which are accessible through the Company’s website(www.elnusa.co.id) and has been available at Company’s head office since March 20, 2019.

Explanation

Approval of the Annual Report 2018 including the Supervision Report of the Board of Commissionersand Approval of the Financial Statement ended December 31, 2018.

Agenda 1

In order to comply with (i) Article 9 paragraph 3 and Article 20 of The Company’s Articles ofAssociation juncto Articles, 66, 67, 68 of Law No. 40 of 2007 on Limited Liability Companies (“UUPT”)

Background

http://www.elnusa.co.id/

Company’s Net Profit for fiscal year ended on December 31, 2018 is Rp276.314.000.000 are a netprofit which attributable to the owners of the parent. In this agenda, The Company will propose tothe Annual General Meeting of Shareholder to approve the use of the Company’s net income asfollows:

a. As a general reserve to comply Article 70 of Limited Liability Company Law No. 40 of 2007, whichis used in accordance with Article 22 of the Company Articles Association.

b. Cash dividend payment for 2018 fiscal yearc. As a Company’s Retained Earnings

Explanation

Determination of the use of Company’s Net Profit in 2017 Fiscal Year

Agenda 2

According to Article 20 and Article 21 Company’s Article of Association juncto Articles 70 and 71 UUPT,Company’s Net Profit in a fiscal year as stated in the balance sheet and profit and los calculation whichhas been approved by Annual General Meeting of Shareholder and represents a positive retainedearnings , divided by the determined by the GMS.

Background

Policy Of Dividen:Accordance with the prospectus Initial Public Offering in 2008, the Company planned and try todistribute dividends to stockholders in cash at least once in a year if there are corporate profits.Proposed determination of the amount and payment of dividends will depends on therecommendation of the Board Directors of the Company by considering :• Conditions in the industrial sector• Company's development plan and capital expenditure• Conditions of cash flows and working capital requirements of the Company• Capital structure policy

Dividend Payment Chronology for 2016 and 2017 Fiscal Year

*) Payment of dividend conducted 30 days after the being decided in the Annual GMS.

Dividend for Fiscal Year 2017 2016

Shared Cash Dividend Rp37,071 billion Rp31,09 billion

Each share Sheet Dividend Rp5,08 Rp4,26

Dividend Shared Ratio 15% 10%

Date of Announcement 15 May 2018 23 May 2017

Payment Date 8 June 2018 22 June 2017

The determination of income in the form of salaries / honorarium, allowances and fixed facilities shallbe conducted by taking into account factors of income, condition and financial capability of theCompany and the rate of inflation and other relevant factors and not contrary to the prevailing lawsand regulations.

While the determination of tantiem is done by considering the realization factor of the Company'sperformance, the level of health, condition and financial ability of the Company during the currentfiscal year.

Explanation

Determination of Tantiem Year 2018 and Remuneration Year 2019 for Members of Board of Directors& Board of Commissioners

Agenda 3

In accordance with Article 14 paragraph (8), Article 17 paragraph (9) and Article 21 of the Company'sArticles of Association juncto Articles 96 and 113 UUPT, the nominal of salary or honorarium andallowances for members Board of Directors and Board of Commissioners shall be determined by theGMS.

Background

Component 2018 2017

Board Commissioners

Honorarium, THR Rp1.767.295.840 Rp2.022.602.400

Tantiem Rp2.538.769.687 Rp2.507.563.252

Retired Rp683.552.627 -

Tax Rp1.783.048.180 Rp1.584.259.454

Etc (dues) Rp71.964.016 Rp43.376.534

Amount Rp6.844.630.350 R6.157.801.640

Board of Directors

Salary, THR Rp8.633.505.000 Rp10.009.860.000

Tantiem Rp5.695.215.930 Rp5.287.698.754

Retired Rp1.355.537.939 Rp914.636.066

Tax Rp5.669.815.421 Rp5.952.856.853

Etc (dues) Rp649.805.707 Rp514.662.752

Amount Rp22.003.879.997 Rp22.679.714.425

Remuneration Components of Board Commissioners and Board of Director for 2018 and 2017 Fiscal Year

The appointment of a Public Accountant to audit the Company's annual report for the Fiscal Year 2019.

Agenda 4

• Rule of Bursa Efek Indonesia (‘BEI') Number I.E Attachment Decision of Board Directors ofPT Bursa Efek Jakarta no. Kep 306/BEJ/07-2004 dated July 19, 2004 regarding Obligation ofInformation Submission;

• Rule Number VIII. A.2 Attachment of Decision of the Chairman of Bapepam and LK No. Kep-86/BL/2011 dated February 28, 2011 concerning Independence of Accountant Providing Servicesin Capital Market;

• Rule of the Financial Services Authority (d/h Bapepam-LK), No. X.K.2 Attachment of Decision ofthe Chairman of Bapepam and LK Number: Kep-346/BL/2011 dated July 5, 2011 concerningSubmission of Periodic Issuer's Financial Statement or Public Company;

• Rule of the Financial Services Authority Number 10/POJK.04/2017 concerning Amendment toPOJK Number 32/POJK.04/2014 concerning the Plan and Implementation of the Company's OpenCompany General Meeting of Shareholders.

Background

• The Company must submit audited and/or unaudited audited Financial Statements to the FinancialServices Authority and the Indonesia Stock Exchange periodically. The audited financial statementsshall be performed by an Independent Public Accountant with the objective of obtaining a fairopinion on the Company's Financial Statements.

• The provision of general audit services to the client's financial statements may only be made bythe Public Accounting Firm for the last six consecutive years and by an Accountant for a maximumof three successive consecutive years.

• The appointment of a public accountant shall be decided in the General Meeting of Stockholderswith due regard to the proposal of the Board of Commissioners. In the event that the GMS can notdecide the appointment of a public accountant, the GMS may delegate such authority to the Boardof Commissioners with the explanation and criteria of the appointed public accountant.

Explanation

The Public Accounting Firm that has audited the Financial Statements for the past three years as follows :

Fiscal Year Accountant KAP

2018 Sinarta Purwantono, Sungkoro & Surja

2017 Moch. Dadang Syachruna Purwantono, Sungkoro & Surja

2016 Widya Arijanti Purwantono, Sungkoro & Surja

Changes in composition management of the Company in view of existence of the members Board ofCommissioners and the Board of Directors that will be terminated, as well as for other members ofthe Board Directors or Board Commissioners according to the proposal of the controllingstockholders of the Company.

Explanation

Approval for The Changes in the Company’s Management

Agenda 5

In accordance with Article 14 paragraph (3) and Article 17 paragraph (3) of the Company's Articles ofAssociation and Article 3 and Article 23 POJK No. 33/POJK.04/2014 concerning the Board of Directorsand Board of Commissioners of Issuers or Public Companies stipulates that members of the Board ofDirectors and Board of Commissioners are appointed And dismissed by the GMS.

The term of office commencing from the date of the General Meeting of Shareholders appointing itand ending at the close of the 3rd Annual General Meeting of Stockholders after the date of itsappointment without prejudice to the right of the GMS to terminate at any time.

Background

Name Position Basis of Appointment

Board of Commissioners

Narendra Widjajanto President Commissioner EGMS 31 August 2018

Pradana Ramadhian Independent Commissioner AGMS 28 April 2016

Lusiaga Levi Susila Independent Commissioner AGMS 14 May 2018

Eman Salman Arief Commissioner EGMS 31 August 2018

Afdal Martha Commissioner EGMS 31 August 2018

Board Of Directors

Tolingul Anwar President Director AGMS 28 April 2016

Hery Setiawan Finance Director EGMS 31 August 2018

Elizar Parlindungan Hasibuan Operations Director AGMS 19 May 2017

RM Happy Paringhadi HR & GA Director AGMS 19 May 2017

Arief Riyanto Business Development Director EGMS 31 August 2018

Current Corporate Governance Structure and its Basis of Appointment

13

CV of Candidate of Board of Commissioners

Name: Anis Baridwan

Place & Date of Birth: Solo, 21 February 1955

A. EDUCATION1. Bachelor Degree in Accounting – University of Gadjah Mada2. Master Degree in Business Administration – Saint Louis University, USA

B. WORKING EXPERIENCES

1. Audit Committee PT Kustodian Sentral Efek Indonesia 2. Lecturer of Magister Management University of Gadjah Mada3. Independent Commissioner PT Waskita Beton Precast Tbk4. Independent Commissioner PT Envy Teknologies Indonesia Tbk5. Independent Commissioner PT Nikko Sekuritas Indonesia

14

CV of Candidate of Board of Commissioners

Name: Antonius Ratdomopurbo

Place & Date of Birth: Wonosari, 05 February 1961

A. EDUCATION1. Bachelor Degree in Physics – University of Gadjah Mada2. Master and Doctor in Geophysique et Geochimie – Universite Joseph Fourer, France

B. WORKING EXPERIENCES

1. Secretary of Geological Agency – Ministry of Energy and Mineral Resources2. Head of Center Geological Survey, Geological Agency – Ministry of Energy and Mineral

Resources3. Head of Center of Survey and Development Volcanology Technology, Geological Agency –

Ministry of Energy and Mineral Resources

15

CV Candidate of Director

Name: Elizar Parlindungan Hasibuan

Place & Date of Birth: Jakarta, 28 March 1964

A. EDUCATION

1. S-1 Teknik Mesin – Univesitas Indonesia2. S-2 Business Administration – Arizona State University

B. WORKING EXPERIENCE

Held various positions at PT Pertamina (Persero) since 1990, including:1. Manager Supply Chain PT Pertamina EP Reg. Sumatera (2004 – 2009)2. Manager Procurement Head Office PT Pertamina EP (pusat) (2009-2013)3. VP SCM & General Services PT Pertamina EP (2013-2015)4. VP SCM PT Pertamina EP (2015 – 2017)5. Operation Director PT Elnusa Tbk – 2017 – present

All Limited Liabilty Companies must make adjustments to intent and purpose business activites,namely those listed in Article 3 of the Articles of Association on the Company, according to the termsof Indonesian Standard Business Classification (KBLI) 2017.

Explanation

Approval of Amendment to the Articles of Association.

Agenda 6

In the Framework of the Government policy to implement Online Single Submission (OSS), namelyBusiness Licensing issued by OSS Institutions (refer to: Government Regulation Number 24 year 2018concerning Integrated Electronic licensing Business Services) on 21 June 2018.

Background

Adjustment of Business Activity Terms in Accordance with KBLI 2017

No Code KBLI Adjustment of Business Activity Terms in Accordance with KBLI 2017

MAIN BUSINESS ACTIVITY

1 SERVICES BUSINESS

09100 Aktivitas Penunjang Pertambangan Minyak Bumi Dan Gas Alam

09900 Aktivitas Penunjang Pertambangan Dan Penggalian Lainnya

33151 Reparasi Kapal, Perahu Dan Bangunan Terapung

71102 Aktivitas Keinsinyuran Dan Konsultasi Teknis YBDI

63111 Aktivitas Pengolahan Data


62090 Aktivitas Teknologi Informasi Dan Jasa Komputer Lainnya


78101 Aktivitas Penyeleksian Dan Penempatan Tenaga Kerja Dalam Negeri


68110 Real Estat Yang Dimiliki Sendiri Atau Disewa

06202 EBTKE

63111 Aktivitas Pengolahan Data

2 TRADING BUSINESS

46610 Perdagangan Besar Bahan Bakar Padat, Cair Dan Gas Dan Produk YBDI

46100 Perdagangan Besar Atas Dasar Balas Jasa (Fee) Atau Kontrak


46610 Perdagangan Besar Bahan Bakar Padat, Cair Dan Gas Dan Produk Ybdi

47414 Perdagangan Eceran Alat Telekomunikasi


3 MINING BUSINESS


4 CONSTRUCTION BUSINESS

42914 Konstruksi Bangunan Pengolahan Dan Penampungan Barang Minyak Dan Gas

43223 Instalasi Minyak Dan Gas

42217 Konstruksi Sentral Telekomunikasi

5 INDUSTRY BUSINESS

28240 Industri Mesin Penambangan, Penggalian Dan Konstruksi

19211 Industri Bahan Bakar Dari Pemurnian Dan Pengilangan Minyak Bumi

19291 Industri Produk Dari Hasil Kilang Minyak Bumi

35101 Pembangkit Tenaga Listrik

30111 Industri Kapal dan Perahu


SUPPORTING BUSINESS ACTIVITY

1 09100 Aktivitas Penunjang Pertambangan Minyak Bumi Dan Gas Alam

2 36003 Aktivitas Penunjang Pengelolaan Air

37021 Pengelolaan Dan Pembuangan Air Limbah Tidak Berbahaya

37022 Pengelolaan Dan Pembuangan Air Limbah Berbahaya

3 46100 Perdagangan Besar Atas Dasar Balas Jasa (Fee) Atau Kontrak

46610 Perdagangan Besar Bahan Bakar Padat, Cair Dan Gas Dan Produk YBDI

47301 Perdagangan Eceran Bahan Bakar Kendaraan di SPBU

4 09100 Aktivitas Penunjang Pertambangan Minyak Bumi Dan Gas Alam

09900 Aktivitas Penunjang Pertambangan Dan Penggalian Lainnya

5 42914 Konstruksi Bangunan Pengolahan Dan Penampungan Barang Minyak Dan Gas

6 28240 Industri Mesin Penambangan, Penggalian Dan Konstruksi

material various positions at pt pertamina (persero) since 1990, including: 1. manager supply chain...

Documents