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Table of Contents
Financial Highlights
111 Years Building The Nation
Vision and Missions
Corporate Cultures
Business Strategies
Important Events 2006
Awards
Report of the President Commissioner
Report of the President Director
Good Corporate Governance
Audit Committee Report
Management Discussions and Analysis
A Robust Risk Management
A Sound Loan Portfolio with a Strong Focus on Micro, Small
and Medium Enterprises (MSMEs)
Firmly Stand on Low Cost Funds
Various Services for Customers’ Conveniences and Satisfactions
BRI Sharia
International Visitor Program
Business Developments
Human Resources Developments
Corporate Social Responsibilities
Information for the Shareholders
Responsibility for Financial Reporting
Financial Report
Curriculum Vitae Board of Commissioners
Curriculum Vitae Board of Directors
Organization Structure
Networks
Senior Managers
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06
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01
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Serve with passion...
ANNUAL REPORT 2006 BRI
Financial Highlights(Audited on and for the year ends on December 31)
01
Rp. billion
Balance Sheet
Total Assets 154,725 122,776 107,040 94,710 86,345Total Earning Assets 139,038 111,731 97,962 84,255 80,139Loans -- Gross 90,283 75,533 62,368 47,599 39,373Government Recapitalization Bonds 18,445 17,722 22,686 27,579 28,394Deposits 124,468 97,046 82,400 76,316 69,627
- Deman Deposits 27,864 17,384 13,364 14,112 11,459- Saving Deposits 58,308 49,372 44,569 35,803 28,673- Time Deposits 38,297 30,290 24,467 26,401 29,495
Other Interest Bearing Liabilities 6,037 5,597 6,384 4,474 5,807Shareholders Equity 16,879 13,353 12,450 8,454 5,794
Profit / Loss
Interest Income :- With Government Recap Bonds Interest 21,071 17,254 15,531 15,069 13,454- Without Government Recap Bonds Interest 18,731 15,076 12,685 11,519 9,718
Net Interest Income :- With Government Recap Bonds Interest 13,789 12,457 11,258 8,027 6,080- Without Government Recap Bonds Interest 11,450 10,280 8,412 4,476 2,345
Other Operating Income 1,509 956 1,447 820 1,045Other Operating Expenses (7,666) (7,700) (6,089) (5,616) (3,908)Total Provision for Possible Losses, net of reversal (1,848) (401) (1,328) 75 (1,755)Income Before Tax 5,907 5,608 5,731 3,712 1,470Net Income 4,258 3,809 3,633 2,579 1,525Earning per Share (Rp.) 356 322 307 252 131
Financial Ratio
CapitalCapital Adequacy Ratio (CAR) *** 18.82% 15.29% 16.19% 19.64% 12.62%Fixed Assets to Capital 29.03% 32.11% 31.73% 15.32% 22.94%
Earning AssetsNon-Performing Earning Assets 3.06% 3.20% 2.76% 3.43% 3.88%Non-Performing Loans (NPL) 4.81% 4.68% 4.19% 6.03% 6.74%Allowance for Possible Losses for Earn. Asset 4.80% 4.85% 5.28% 5.19% 5.51%Compliance for Allowance for Possible Lossesfor Earning Assets
155.97% 176.62% 225.24% 210.15% 193.78%
ProfitabilitasR O A (Return on Assats) 4.36% 5.04% 5.77% 4.11% 1.83%R O E (Return on Equity) 33.75% 38.00% 42.76% 44.73% 38.81%N I M (Net Interest Margin) 11.17% 12.18% 12.16% 9.54% 8.12%Operating Expense/ Operating Income 74.38% 70.83% 68.86% 79.19% 89.92%
LiquiditiesL D R (Loan to Deposit Ratio) 72.53% 77.83% 75.69% 62.37% 56.55%
ComplianceViolation on Legal Lending Limit
- Related Parties 0.00% 0.00% 0.00% 0.00% 0.00%- Third Parties 0.00% 0.00% 0.00% 0.00% 0.00%
Excess of Legal Lending Limit- Related Parties 0.00% 0.00% 0.00% 0.00% 0.00%- Third Parties 0.00% 0.00% 0.00% 0.00% 0.00%
Statutory Reserve 12.34% 9.55% 9.39% 10.92% 5.82%Net Open Position 5.41% 5.23% 10.77% 13.24% 7.79%
2006 2005 2004 2003** 2002*
*) Report on the year 2002 are Consolidated Financial Statement with subsidiary (PT Bank Inter-Pacific Tbk.)
**) Re-presented or re-statement
***) Including market risk since 2004
ANNUAL REPORT 2006 BRI
111 Years Building the Nation
PT. Bank Rakyat Indonesia is the oldest bankin Indonesia. Started from a small financialinstitution founded by Raden Bei AriaWiriaatmadja in Purwokerto, Central Java onDecember 16, 1895, later it was named DePoerwokertosche Hulp en Spaarbank derInlandsche. In the beginning, this institutionmanaged the mosque’s funds as a source ofloans disbursed to the people in the neighborhoodwith a very easy repayment scheme.
As the time passed by, the institution has been growing and become the needof the community. The name of this institution underwent several changes inthis chronological order: Hulp-en Spaarbank der Inlandsche Bestuur Ambtenareen, De Poerwokertosche Hulp Spaar-en Landbouw Credietbank (Volksbank),Centrale Kas Voor Volkscredietwezen Algemene (1912) and AlgemeneVolkscredietbank (AVB) in 1934.
During the Japanese colonization, AVB was transformed into Syomin Ginko.The Japan’s lost in the World War II led to Indonesian independence in 1945.The Indonesian government then changed the bank name into Bank RakyatIndonesia (BRI) on February 22, 1946. Under the Government Regulation ofthe Republic of Indonesia No. 1, 1946, BRI became the first state-owned bankin Indonesia.
As the state-owned bank, BRI has played a number of important roles in realizingthe government vision to develop people’s economy. In 1960, Indonesiangovernment changed BRI into Bank Koperasi, Tani dan Nelayan (The Bank forCooperation, Farmers, and Fishermen). Then stipulated by the Law No. 21,1968, the government designated “Bank Rakyat Indonesia” as a commercialbank; and in conjunction with the Banking Law No. 7, 1992, BRI changed itsname and legal status as PT. Bank Rakyat Indonesia (Persero).
In November 10, 2003, BRI went public and government divested 30% of itsshares. Since listed in the Jakarta Stock Exchange until now, BRI shares’ pricehas been rising continuously and categorized as blue chips in LQ45. With 43.03%of public ownership, BRI’s shares are actively traded in capital market.
02
ANNUAL REPORT 2006 BRI
Vision dan Missions
The Vision of Bank Rakyat Indonesia is tobecome a leading commercial bank withcustomer’s satisfaction as the utmost priority
To realize this Vision, BRI has set up threemissions, namely:
1. Performing the best banking activitiesfocusing on Micro, Small, and MediumEnterprises to support Indonesia’s economy.
2. Providing excellent services for customersthrough widespread network, supported byprofessional human resources byimplementing Good Corporate Governance.
3. Providing optimum benefits and values forall stakeholders.
03ANNUAL REPORT 2006 BRI
ANNUAL REPORT 2006 BRI
BRI has corporate values functioning as the basefor all personnel in their way of thinking, acting,and behaving wherever they are. These valuesinclude:
• Integrity• Professionalism• Customer Satisfactions• Role Model• Human Resources Appreciations
The awareness of these values, as well as asolid and character-oriented corporate cultureserve as the philosophical base for everyemployee in conducting business.
As one of corporate culture and bankers’ ethic
Corporate Cultures
04
implementation, BRI also has a compliant culturepertaining to all relevant laws and regulationswhich linked with banking operational activities.This culture encourages BRI to always emphasizeprudent banking principles and commitment tothe stakeholders’ interests, by realizing thefollowing practices of corporate governance:
• Intensifying risk-awareness andcompliant culture programs to allemployees in all working units.
• Intensifying the improvement of servicequality in all working units.
• Describing and monitoring everyimprovement accomplished in thecompany into a measurable andaccountable action plan.
ANNUAL REPORT 2006 BRI 05
Business Strategies
BRI has set up a long-term plan (Corporate Plan)for the period of 2003-2007 as a part of itsbusiness development plan. This Corporate Planis in line with those of 2002 – 2006 BUMN (State-Owned Enterprises) Master Plan of the Ministryof State-Owned Enterprises and the NationalBanking Recovery Program of Bank Indonesia.
The strategies employed are as follows:
• Focus on the core business, that is, onMicro, Small, and Medium Enterprises
• Expand operational coverage• Strengthen risk management• Use information technology for operational
efficiency.
ANNUAL REPORT 2006 BRI06
Important Events 2006
APRIL
MAY
JANUARY
FEBRUARY
30 MAY 2006Annual General Shareholders Meeting of PT Bank RakyatIndonesia (Persero) Tbk
3 APRIL 2006The signing of Memorandum of Understandingbetween BRI and Indonesia Inaugurate Aceh andand Nias Reconstruction Board
21 FEBRUARY 2006The signing ofMemorandum ofUnderstandingbetween BRI and PTSemen Tonasa
6 JANUARY 2006The signing of Memorandum of Understanding between BRI, Ministry ofSocial Welfare , and Indonesian Post Office
23 MAY 2006The signing ofMemorandum ofUnderstandingbetween BRI andHead of StateUniversities inIndonesia
6 APRIL 2006The signing of Memorandum of Understandingbetween BRI and PT Pertamina
22 FEBRUARY 2006Grand Launching BRI’s Credit Card
ANNUAL REPORT 2006 BRI 07
NOVEMBER
DECEMBER
12 NOVEMBER 2006The signing of MoU between BRI and Ministry ofCooperation and Micro, Small & Medium Enterprises
30 OCTOBER 2006MPN (Modul Penerimaan Negara) Prima Launching
19 DECEMBER 2006Public Expose
16 OCTOBER 2006The signing of Memorandum of Understanding betweenBRI and PT Angkasa Pura II
27 SEPTEMBER 2006The signing of Memorandum of Understanding betweenBRI and PT Angkasa Pura I
5 OCTOBER 2006The signing of Memorandum of Understanding betweenBRI and PT Bentoel Prima
SEPTEMBER
OCTOBER
ANNUAL REPORT 2006 BRI08
Awards 2006
• The Asian Banker “Excellence in RetailFinancial Services Awards” category“Excellence in Sub-Prime LendingManagement Awards”
• Euromoney 2006 Awards forExcellence, category Best Bank inIndonesia
• Bisnis Indonesia 2006 Award, categoryBest National Bank
• Annual Report Award 2006, categoryFinancial for Listed State-ownedCompany
• InfoBank Award, category OutstandingFinancial Performance 2001 – 2005
• Finance Asia Country Award forAchievement 2006, category Best Bankin Indonesia
• SWA Magazine & MARS Research
Company Award, category The BestCorporate Brand in Financial Industry
• SWA Magazine & MARS ResearchCompany Award, category The MostValuable Brand in Bank Category
• Finance Asia Magazine, Asia’s BestCompanies 2006, category BestInvestor Relations
• Investor Media Group, Best State –Owned Company 2006, category Bestin Banking Sector
• SWA Magazine and MarkPlusConsultant, category The Best PublicBank for Year 2006 based on EVAConcept
• Western Union award, category Awardfor Achievement in Highest PersentageGrowth in New Locations”
The achievements of BRI in 2006 are as follow:
ANNUAL REPORT 2006 BRIANNUAL REPORT 2006 BRI 09
ANNUAL REPORT 2006 BRI
Assalamualaikum Wr. Wb.
All praises and gratefulness to God Almighty forall His blessing that we have so far felt so thatBRI could successfully go through the year 2006,which is reflected in the current achievementexceeding the predetermined target .
Together, we can feel the flow of our economyin 2006, which probably has become a “test” forsome economic players. The lingering impact ofthe world oil price, early-year inflation whichcaused the increasing prices of produced goodsas well as commodities as a result of the previous-year fuel price increase, two-digit interest rateat the beginning of the year which lasted untilfew months forward, some natural disasters, andsome other unfavorable macro economic
Report of the President CommissionerBunasor Sanim
ANNUAL REPORT 2006 BRI10
“Minimizing risk by implementingGood Corporate Governance withconsis tency and disc ipl ine .”
ANNUAL REPORT 2006 BRI
conditions were a number of things burdeningthe economic players in driving the economy. Itis really God great blessings that all of us haveto be thankful so that BRI could go through theyear 2006 successfully—that BRI can keep itsposition as the leading State-Owned Bank in theIndonesian banking industry.
Bank Indonesia had stated that for the last threeyears the national banking industry hadundergone significant improvements which canbe seen from improving financial indicators in anumber of banks, such as the growth of totalassets, the growth of loans, the growth ofdeposits, banks’ CAR, and the decline of nonperforming loans (NPL).
BRI has been able to show good performancefor the last several years until 2006. In 2006 BRIbecame the most profitable bank in Indonesia.This was reflected in the 2006’s profit, whichwas higher than the previous year (2005), andalso the achievement of most of the targetspredetermined in the 2006 Annual Budget. Weneed also to be grateful to God that BRI keepsgaining trust from capital market, indicated bystable and improving share price.
Those achievements are definitely the results ofhard work and support from all the stakeholders,including shareholders, Commissioners,Directors, BRI’s employees of all levels, suppliers,and other related parties. May all those hardwork and support be well maintained so that BRIcan maintain the quality and quantity of itssustainable growth. What has so far been wellachieved has to be maintained or even improvedin the coming years. Commissioners would liketo greatly appreciate the management of alllevels and all stakeholders for their hard workand support in 2006.
Even though the macro economic condition in
2007 is predicted to be improving, we still needto work hard to achieve maximum results, keepingin mind the increasing public demands for bankingservices and the tighter banking competition. Inaddition, risk management needs to be improvedso that BRI can minimize risks resulting fromevery single banking activity by implementinggood corporate governance with consistencyand discipline.
In pursuing the growth of loans and financing, itis recommended that BRI be consistent with itsrole in developing micro, small, and mediumbusinesses, including farming which has becomeits core business and brand image, by operatingon the basis of prudential banking practices inhealthy loan disbursements.
On the other hand, the development of the overallbusiness is expected to run according to theBusiness Plan. Commissioners will keepsupporting the management in meeting all theregulation of Indonesian Banking Architecture,Good Corporate Governance, Internal Controland Risk Management, as well as businessprocess best practices. All of these will allow BRIto grow its business well and maintain itssustainable growth, which had been achievedso far.
Looking at improving macro economic conditionin 2007, Commissioners greatly hope that BRIwill perform much better. Vast networks, bignumber of debtors, stable business fundamentals,as well as employees’ and customers’ loyaltycan become the added values for BRI to competewith other national banks. Competent humanresources and reliable information technologyare also essential for BRI to operate better, satisfypublic demands for quality banking services, aswell as to be more efficient and profitable.
Supports from all related parties are a crucial
11
ANNUAL REPORT 2006 BRI
element in realizing that expectation. Thank youvery much for supports that have so far beengiven and are expected to always be given toBRI that it can keep becoming a leadingcommercial bank, which always prioritizescustomers’ satisfaction, and to be the best bankin Indonesia.
With all those supports, Commissioners greatlylook forward for a continue improvements ofBRI’s performance which in turn will give a greatcontribution to the development of Indonesia’seconomy.
May Allah SWT, God Almighty, always guide andcomfort every one of us. Amen.
Wassalamu’alaikum Wr. Wb.
Jakarta, December 2006
Bunasor SanimPresident Commissioner
12
• Baridjussalam Hadi • Bunasor Sanim • Sunarsip • Aviliani • B.S. Kusmuljono • Agus Pakpahan
ANNUAL REPORT 2006 BRI
Dear Stakeholders,
All praises and gratefulness to God Almighty, allof us could go through the year of 2006.
The year of 2006 was the year of dynamics forIndonesian economy as well as Indonesianbanking industry. A industry which is greatlyaffected by macro economic fluctuations. Theimpact of government policy to lift some of oilsubsidies in October 2005, which lead to theskyrocketed oil price was still felt in the early2006 . The price hike had caused the inflationto increase from 9.06% in September 2005 to17.11% by end of 2005 and was continuing toincrease to 17.92% in February 2006.Responding to the inflation pressure, BankIndonesia was increasing its benchmark interest
Report of the President DirectorSofyan Basir
ANNUAL REPORT 2006 BRI 13
With loan growth above the average of bankingindustry, BRI could increase its market share from10.86% by the end of December 2005 to 11.40%by the end of December 2006. The loan growthwas steered up by growth in loans to micro, smalland medium businesses.
ANNUAL REPORT 2006 BRI
rate – BI Rate - gradually, from 9.50% in August2005 to 12.75% by end of 2005, and wasmaintained in that level until May 2006. Thecompounding effect of oil price hike andincreasing interest rate had affected people’spurchasing power, lead to declining growth ofIndonesia’s economy as it was driven mostlyby domestic consumptions. In the first quarterof 2006, the growth was at 4.98%, lower thanprevious year’s first quarter growth which reached6.06%
Indonesia’s macro economy was starting to pickup in the early of second semester of 2006.Exports were rising significantly, to reach USD9.50 billion by end of December 2006, or grew17% year on year, caused by a hefty priceincrease of Indonesia’s export commodities. Theincreasing export was behind Indonesia’sbalance of payment surplus, which stayed atUSD 4.27 billion by end of December 2006.
Throughout 2006, inflation had been successfullytamed, and showed a declining trend, from17.11% by end of December 2005 to become6.60% by end of December 2006. Controllableinflation had triggered Bank Indonesia’s to startit’s cutting rate policy. The BI Rate (the interestrate benchmark) was slashed in stages, from12.75% on May 2006 to become 9.75% by theend of December 2006.
The banking industry reflected what was trendingin the macro economic fundamentals. Banksexperienced though conditions both in lendingside and funding side. Increasing interest ratehad made banks’ cost of funds surging, bothbecause of increasing deposit rate , in line withthe trend of BI Rate, and also because of theshift of depositors toward more expensive fundsof time deposits.
In the first semester of 2006, the shock due to
oil price hike has caused a laggard movementsof the real sector economy. An apparentsubsequent impact of that was a low demand ofloans, well reflected in the growth of loan andthe quality of loans in the period. Loan’s growthwas remarkably low, only 2.80%, and the qualityof the loans was worsened, indicated by higherNon Performing Loans (NPLs) which reached8.33% by end of June 2006 from 7.56% by endof December 2005. Meanwhile, deposits wasgrowing faster, from Rp1.13 trillion by end ofDecember 2005 to Rp1.17 trillion or grew 3.57% resulted in an excess of liquidity in the bankingsystem.
The excess liquidity experienced by many bankshad lead to an increasing portion of SBI (BankIndonesia Bill), as banks placed their unabsorbedfunds into SBI. The SBI had been seen as asafe investment instrument which offers arelatively attractive yield at the time, in line withBI Rate upward trend. The SBI held by banksby the end of June 2006 reached Rp139.81trillion , soared 157.68% from end of December2005’s position of only Rp54.26 trillion
Significant growth of bank’s loans – at 10.79%- occurred in the second semester of 2006, inline with Indonesia’s macro economic improvingcondition. By end of December 2006, total loanshovered at Rp792.3 trillion, and the NPLs wasturning down to 6.07% from 7.56% in the previoussemester. Growth of loans had surpassed thegrowth of deposits, lead to higher Loan to DepositRatio (LDR) of 61.56% by end of December2006 from 59.66% by end of December 2005
In contrast with fluctuations occurred in thebanking industry, BRI had again successfullyproved its business model sustainability andstability, by recording a steady high loan growththroughout the cycle of interest rate movementsin 2006. In an increasing interest rate period
14
ANNUAL REPORT 2006 BRI 15
such as the first semester of 2006 BRI hadrecorded a loans growth of 8.91%. In the secondsemester 2006, the time when many banksstarted to disburse loans aggressively, BRI waskeeping its prudent loan policy, and recording astable loan growth of 9.76%. With that growth,by end of December 2006, BRI’s total loansreached Rp90.28 trillion an increase from endof December 2005 position of Rp75.53 trillion,or a yearly growth of 19.53%, well above bankingindustry’s growth of 14.10%.
BRI’s loan growth was steered up by growth inloans to micro and small businesses, thesegments in which BRI had its competence andits long time commitments. Growth of loans tomicro businesses was 19.75% year on year,while loans to small businesses grew 13.34%year on year. In the other hand, contribution ofconsumer loans in BRI’s total loan growth wasgetting smaller, from 21.90% in 2005 to 21.22%in 2006. This smaller portion of consumer loansin BRI’s loan portfolio was rooted from a growthof 15.81%, which was bellow the growth of loansto micro, small and medium businesses whichat the same period reached 20.55%. Thiscomposition of loan portfolio had shown BRI’scommitment to Micro, Small and MediumEnterprises and so as to show BRI’s directinvolvement in moving Indonesia’s real sectoreconomy
A different picture was shown in the IndonesianBanking Industry’s trend in general. The role ofconsumer loans was seemed to be stillprominent. Consumer loans had been the majordrive of growth in banks’ loans, reaching a 9.51%during 2006.
Constant high loan growth achieved by BRI hadlead to an increasing market share of loan, toreach 11.40% by the end of December 2006,from 10.86% by the end of December 2005,
while the gross NPLs successfully be kept atbelow 5%.
As a consequence of Bank Indonesia’s tighteningpolicy of increasing interest rate started in late2005 up until the middle of 2006 BRI’s cost offunds had increased, from 4.96% by end ofDecember 2005 to become 6.27% by end ofDecember 2006. The increasing cost of fundswas also related to a shift in BRI’s depositscomposition toward high cost funds, which wastending in Indonesia’s banking industry at thetime. Yet low cost deposits were still the majorityin BRI’s deposits. By the end of December 2006,low cost deposits still acquired 69.23% of totaldeposits, left only 30.77% for high cost deposits,a composition far better than the banking industry.
Explored further into the type of deposits, therewas an apparent sign of how strong BRI’s fundingbase which mostly consist of low-cost-retaildepositors was. In the first semester 2006, BRI’sdemand deposits and savings grew 22.31%, farabove banking industy’s growth of only 4.87%. In the second semester 2006, when the interestrate was trending down, the growth of BRI’s lowcost deposits was consistently higher, reaching25.64% far higher than those of the industry’sgrowth of only 16.53%.
The sustainability of high quality loan growth,compounded by maintaining low cost of fundsresulted in a Net Interest Margin (NIM) of 11.17%by the end of December 2006, far above thebanking industry’s NIM of 5.80%
Another encouraging development wasin fee based income. In 2006, BRI hadsignificantly boosted its fee based income aswell, from only Rp527.89 billion by the end ofDecember 2005 to Rp837.69 billion bythe end of December 2006.This success was a promising sign for further
ANNUAL REPORT 2006 BRI
developments of BRI’s consumer bankingbusiness.
Better valuation of Government Bonds portfolioas a result of better macro economic conditionssuch as decreasing interest rate, benign inflationand good prospects of Indonesia’s economyperceived by international community had yieldedto unrealized, marked to market gain of Rp629.25billion, consisted of Rp609.91 billion from‘available for sale’ bonds portfolio and Rp190.34billion from trading bonds portfolio.
Many have expected that macro economiccondition in 2007 will be better than 2006. Realsector economy, which had been stagnant, isexpected to start to move, based on assumptionsthat the Government will be more serious inrealizing long awaited infrastructure projectsurgently needed by the economy to growsustainably. The projects seemed soon to berealized are infrastructure projects and
agribusiness revitalization, especially palm oilplantations, as palm oil had been declared bythe Government as an alternative source ofenergy.
Indonesia is the second biggest producer of palmoil in the world now. In the future it should be thefirst as Indonesia had far wider areas availablefor palm oil plantations. The developments ofinfrastructure projects and agribusinesses in turnwill bring trickle down effects to Micro, Small andMedium Enterprises (MSMEs). Agribusinessprojects will be in nucleus-plasma mode whichwill involve farmers and other MSMEsentrepreneurs in the surrounding areas, whichare the base of BRI’s customers.
Accelerating developments of agribusiness willsurely give very positive impacts on BRI’sperformance. BRI will continue to develop positivesynergies with other healthy State OwnedEnterprises (SOEs) to involve them in the
16
• Sudaryanto Sudargo • A. Toni Soetirto • Sulaiman A. Arianto • Sofyan Basir • Lenny Sugihat • Sarwono Sudarto • Bambang Soepeno • Abdul Salam
ANNUAL REPORT 2006 BRI 17
development of MSMEs, which all lead to alinkage program in which BRI will have significantroles in financing all the down streams up to theup streams of the businesses.
Last but not least, on behalf of Board of DirectorsI would like to thank to all our customers, businesspartners, the shareholders, both the Governmentand public shareholders, all employees and otherstakeholders for all the supports had been given.
I hope BRI will be stronger in facing all thechallenges as for grabbing any opportunitiesavailable in the years to come.
Jakarta, December 2006
Sofyan BasirPresident Director