STAYING OPTIMISTIC AND FOCUSED · STAYING OPTIMISTIC AND FOCUSED. Ikhtisar Utama Performance Highlights Laporan Manajemen Management Reports Profil Perusahaan Company Profile Pendukung

Laporan Tahunan Annual Report2019

STAYING OPTIMISTIC AND FOCUSED

As one of the largest mining companies in Indonesia, PT Bumi Resources Tbk (“BUMI”) always carries out its business activities in a carefully planned and structured approach so as to achieve optimal performance. By consistently carrying out its operational activities in a structured and integrated manner, BUMI is able to achieve positive performance throughout 2019 amid the challenging development in the coal industry.

In 2019, BUMI recorded a commendable performance by selling 87.7 MT of coal, the highest in BUMI’s history. This achievement is the result of hard work and collaboration between BUMI and its subsidiary entities, namely PT Kaltim Prima Coal and PT Arutmin Indonesia. This achievement also contributed to BUMI’s growth in the performance of the national mining industry.

Going forward, BUMI is committed to continuing to focus on implementing its strategic plans in order to be able to create sustainable performance growth from year to year, as well as maintain optimism for industrial development in the coming years. The Company will also continue to strengthen the consolidation between parties, with the aim that BUMI’s performance can continue to grow and produce optimal benefits for all stakeholders.

Sebagai salah satu perusahaan pertambangan terbesar di Indonesia, PT Bumi Resources Tbk (“BUMI”) senantiasa menjalankan kegiatan usahanya dengan perencanaan yang matang dan terstruktur agar mampu meraih kinerja yang optimal. Konsistensi dalam menjalankan seluruh kegiatan operasional secara terstruktur dan terintegrasi memampukan BUMI untuk meraih kinerja yang positif sepanjang 2019 di tengah perkembangan industri batubara yang penuh tantangan.

Pada 2019, BUMI berhasil mencatat peningkatan kinerja yang membanggakan dengan penjualan sebesar 87,7 MT batubara, tertinggi sepanjang sejarah BUMI. Pencapaian ini merupakan hasil kerja keras dan kerjasama antara BUMI dan entitas anaknya, yaitu PT Kaltim Prima Coal dan PT Arutmin Indonesia. Pencapaian ini sekaligus menjadi kontribusi BUMI terhadap pertumbuhan kinerja industri pertambangan nasional.

Ke depannya, BUMI berkomitmen untuk senantiasa berfokus untuk melaksanakan rencana-rencana strategisnya agar mampu menciptakan pertumbuhan kinerja berkelanjutan dari tahun ke tahun, serta menjaga optimisme terhadap perkembangan industri di tahun-tahun mendatang. Perseroan juga akan terus memperkuat konsolidasi antar pihak, dengan tujuan agar kinerja BUMI dapat terus bertumbuh dan menghasilkan manfaat yang optimal bagi seluruh pemangku kepentingan.



Ikhtisar UtamaPerformance Highlights

Laporan ManajemenManagement Reports

Profil PerusahaanCompany Profile

Pendukung BisnisBusiness Support

Laporan Tahunan 2019 PT Bumi Resources Tbk2

Kesinambungan TemaTheme Continuity

2015Maintaining Growth in a Changing World

Dalam beberapa tahun terakhir, berbagai kemajuan terus diupayakan oleh Perseroan untuk meningkatkan efisiensi operasional dan mempertahankan daya saing. Beberapa prioritas dalam operasi, di segmen batubara dan non-batubara, telah ditetapkan untuk memastikan keberlangsungan usaha Perseroan di tengah berbagai tantangan yang dihadapi saat ini, antara lain, dengan menjaga rasio pengupasan di tingkat kisaran rendah. Terlepas dari kenyataan bahwa sampai sekarang belum terlihat ada tanda-tanda pemulihan pada kondisi pasar batubara dunia, kami yakin dengan potensi tambang yang kami miliki, dan dengan kebijakan dan strategi yang tepat, maka Perseroan mampu melakukan rebound dan kembali meraih pertumbuhan bisnis di masa depan.

In the last few years, progress is continuously being made to ensure improvement in our operating efficiency and to maintain our competitiveness. Several priorities in our operation, in coal and non-coal segments, have been set in order to ensure our business continuity despite the challenges we are facing today, among others, maintaining stripping ratio at low range level. Despite the fact that until now there was no sign of any improvement has been observed regarding the condition of the world coal market, we are sure that given the potential of our mines, and with the right policies and strategies, Company will rebound and regain its growth in the future.

2016Titik Balik yang MenjanjikanA Promising Turning Point

Melanjutkan PertumbuhanDelivering Profitability

Tahun 2016 menjadi titik balik yang menjanjikan bagi masa depan PT BUMI Resources Tbk. Kesuksesan restrukturisasi utang di pertengahan tahun serta kenaikan harga batubara yang tak terduga, telah memberi BUMI sebuah awalan yang baru. Perseroan berkomitmen untuk memanfaatkan a d a n y a p e r k e m b a n g a n y a n g menggembirakan ini untuk menciptakan sebuah momentum pertumbuhan nilai yang terus berlanjut hingga bertahun-tahun mendatang.

The year 2016 was indeed a promising turning point for PT BUMI Resources Tbk. Following a successful debt restructuring in the mid of the year, coupled with the unexpected surge of coal prices, BUMI now has a new start. The Company is committed to capitalize this encouraging development to create a creating a momentum of continuous growth in value for years to come.

2017Pada tahun 2017, BUMI terus melanjutkan tren kinerja positif yang dimulai sejak tahun 2016. Peningkatan harga komoditas batubara di pasar global berdampak positif bagi bisnis BUMI. Dalam aspek operasional, Bumi menunjukkan fundamental yang masih sangat kuat seperti tercermin dari produksi dan penjualan komoditas batubara yang stabil dan disertai dengan efisiensi dan optimasi yang membaik. Kondisi finansial BUMI semakin solid yang terlihat dari peningkatan ekuitas menjadi sebesar USD286,4 juta dibanding tahun sebelumnya yang negatif. Peningkatan ini sebagai dampak dari proses restrukturisasi utang dan penerbitan saham baru (right issue). BUMI juga berhasil memberikan nilai lebih bagi para pemegang saham dengan membukukan laba bersih sebesar USD242,8 juta, meningkat 102% dari tahun sebelumnya. Tren positif bisnis BUMI diikuti dengan peningkatan tata kelola perusahaan yang baik dan tanggung jawab sosial dari Perseroan serta berkontribusi lebih terhadap peningkatan perekonomian.

In 2017, BUMI continued its positive performance trend from 2016. Improved prices of coal commodity in the global market were favorable to BUMI’s business endeavors. In terms of operations, BUMI exhibited strong fundaments as evidenced by its stable coal production and sales record, whilst operational efficiency and optimization enhanced. Financially, BUMI grew even more solid. Equity rose to USD286.4 million compared to the negative position in the preceding year. The increase was a testament to the successful debt restructuring initiative and rights issue exercise. BUMI was also able to deliver higher value to its shareholders by posting a net income amounting to USD242.8 million, up 102% from the previous year. BUMI’s positive business trend was followed by improved good corporate governance practices and social responsibility implementation as well as the Company’s contribution to the economy.

Analisis dan Pembahasan ManajemenManagement Discussion and Analysis

Tata Kelola PerusahaanCorporate Governance

Tanggung Jawab Sosial PerusahaanCorporate Social Responsibility

Laporan Keuangan Konsolidasian 20192019 Consolidated Financial Statements

3PT Bumi Resources Tbk 2019 Annual Report

2019



Progressing for Sustainable Growth STAYING OPTIMISTIC

AND FOCUSED

2018Dengan dukungan pembiayaan yang kuat dan Anak Perusahaan yang mapan, kini BUMI juga memainkan peran sebagai investor strategis. Seiring dengan perkembangan produksi, beroperasinya tambang-tambang baru, serta upaya menciptakan nilai bagi pelanggan, pemegang saham dan pemangku kepentingan, BUMI akan terus maju dengan semangat dinamisnya menuju pro duksi dan pertumbuhan yang berkelanjutan.

Supported with strong financial backup and established Subsidiaries, BUMI currently takes the role of strategic investor. Aligned with the production development, the operation of new mines, and the efforts to create values for customers, shareholders and stakeholders, with its dynamic spirit BUMI continues to move forward toward sustainable production and growth.

Pada 2019, BUMI berhasil mencatat peningkatan kinerja yang membanggakan dengan penjualan sebesar 87,7 juta ton batubara, tertinggi sepanjang sejarah BUMI. Pencapaian ini merupakan hasil kerja keras dan kerjasama antara BUMI dan entitas anaknya, yaitu PT Kaltim Prima Coal dan PT Arutmin Indonesia. Pencapaian ini sekaligus menjadi kontribusi BUMI terhadap pertumbuhan kinerja industri pertambangan nasional.

In 2019, BUMI recorded a commendable performance by selling 87.7 million tons of coal, the highest in BUMI’s history. This achievement is the result of hard work and collaboration between BUMI and its subsidiary entities, namely PT Kaltim Prima Coal and PT Arutmin Indonesia. This achievement also contributed to BUMI’s growth in the performance of the national mining industry.






Daftar IsiTable of Contents

1 Tema | Theme2 Kesinambungan Tema

Theme Continuity

01 Ikhtisar UtamaPerformance Highlights6 Ringkasan Kinerja 2019

Performance Highlights 2019

8 Ikhtisar KeuanganFinancial Highlights

11 Ikhtisar SahamShares Highlights

12 Ikhtisar ObligasiBonds Highlights

12 Aksi KorporasiCorporate Actions

12 Penghentian SementaraPerdagangan Saham/ Penghapusan Pencatatan SahamSuspension/Delisting

13 Peristiwa PentingEvent Highlights

03 Profil PerusahaanCompany Profile46 Identitas Perusahaan

Company Identity

47 Sekilas Bumi ResourcesBumi Resources in Brief

49 Bidang UsahaCore Business

51 Produk dan JasaProducts and Services

52 Jejak LangkahMilestones

56 Struktur OrganisasiOrganization Structure

58 Visi, Misi & Nilai PerusahaanVision, Mission & Core Values

60 Profil Dewan KomisarisBoard of Commissioners’ Profile

68 Profil DireksiBoard of Directors’ Profile

75 Profil Komite AuditAudit Committee Profile

79 Profil Komite Nominasi & RemunerasiNomination & Remuneration Committee Profile

04 Pendukung BisnisBusiness Support108 Sumber Daya Manusia

Human Resources

116 Teknologi InformasiInformation Technology

82 Komposisi Pemegang SahamShareholders Composition

85 Daftar Entitas Anak, Perusahaan Asosiasi, Perusahaan VenturaList of Subsidiaries, Associates, and Joint Ventures

88 Struktur Grup PerusahaanCompany’s Group Structure

90 Kronologi Pencatatan SahamShare Listing Chronology

90 Kronologi Pencatatan Efek LainnyaOther Securities Listing Chronology

91 Lembaga Profesi Penunjang PerusahaanSupporting Professional Institutions of the Company

92 Penghargaan & SertifikasiAwards & Certifications

95 Informasi Kantor Cabang/PerwakilanBranch/Representative Office Information

96 Area OperasionalOperational Area

98 Situs Web PerusahaanCompany’s Website

100 Pendidikan dan PelatihanLevel Manajerial di Tahun BukuManagerial Level Education and Training in the Fiscal Year

02 Laporan ManajemenManagement Report20 Laporan Dewan Komisaris

Board of Commissioners’ Report

28 Dewan KomisarisBoard of Commissioners

30 Laporan Direksi Board of Directors’ Report

40 Direksi Board of Directors’

42 Pernyataan Tanggung Jawab Laporan Tahunan 2019 olehDewan Komisaris dan DireksiStatement of Accountability of 2019 Annual Report by the Board of Commissioners and Board of Directors

















Laporan Tahunan 2019 PT Bumi Resources Tbk44 45PT Bumi Resources Tbk 2019 Annual Report










18 44 106






06 Tata Kelola PerusahaanCorporate Governance160 Tata Kelola Perusahaan

Corporate Governance

168 Kebijakan GCG BUMI “Cara Kerja yang Diharapkan dari Kita”BUMI’s GCG Policy “The Way We are Expected to Work”

170 Prinsip-Prinsip GCGGCG Principles

172 Road Map Penerapan Tata Kelola BUMIRoad Map Implementation of Good Corporate Governance of BUMI

173 Rapat Umum Pemegang SahamGeneral Meeting of Shareholders

177 Pelaksanaan Rapat Umum Pemegang Saham di Tahun 2019Implementation of General Meeting of Shareholders in 2019

187 Realisasi Keputusan Rapat Umum Pemegang Saham Tahun SebelumnyaRealization of Resolutions of General Meeting of Shareholders in Previous Year


225 Komite Dewan KomisarisBoard of Commissioners Committees

239 DireksiBoard of Directors

326 Perlindungan PelangganConsumer Protection

327 Program Kepemilikan Saham oleh Karyawan dan/atau Manajemen (ESOP/MSOP)Employee Share Ownership Program/Management Share Ownership Program (ESOP/MSOP)

328 Perkara Penting yang Dihadapi PerusahaanCompany’s Litigation Case

328 Sanksi AdministratifAdministrative Sanctions

329 Akses Informasi dan Data PerusahaanInformation Access and Company Data

330 Review Efektivitas Pelaksanaan GCG di BUMIReview of the Effectiveness of GCG Implementation at BUMI

269 Kepemilikan Saham oleh Dewan Komisaris dan DireksiStock Ownership of Commissioners and Directors

270 Hubungan Afiliasi antara Anggota Direksi, Dewan Komisaris, dan Pemegang Saham Utama & PengendaliAffiliates between Members of the Board of Directors, Board of Commissioners, and Ultimate & Controling Shareholders

271 Komite DireksiBoard of Directors’ Committee

275 Sekretaris PerusahaanCorporate Secretary

284 Audit InternalInternal Audit

294 Sistem Pengendalian InternalThe Internal Control Systems

298 Manajemen RisikoRisk Management

320 Pedoman Perilaku “Cara Kita Melakukan Usaha” (Versi 4.0) Juni 2018Code Of Conduct “The Way We Conduct Business” (Version 4.0) June 2018

322 Sosialisasi Kebijakan GCG dan Pedoman PerilakuSocialisation of GCG Policies and Code of Conduct

323 Pencegahan Transaksi Insider TradingInsider Trading Prevention

324 Speak Up System (Whistleblowing System)Speak Up System (Whistleblowing System)




























122 158370

05 Analisis dan Pembahasan ManajemenManagement Discussion and Analysis

124 Analisis dan Pembahasan ManajemenManagement Discussion and Analysis

130 Tinjauan Operasional Per Segmen UsahaOperational Review Per Business Segment

134 Kinerja Entitas AnakPerformance of Subsidiaries

144 Tinjauan KeuanganFinancial Review

07 Tanggung Jawab Sosial PerusahaanCorporate Social Responsibility

372 Tanggung Jawab Sosial PerusahaanCorporate Social Responsibility

08 Laporan KeuanganKonsolidasian 20192019 Consolidated Financial Statements

439 Laporan KeuanganKonsolidasian 20192019 Consolidated Financial Statements






Ringkasan Kinerja 2019Performance Highlights 2019

Kinerja OperasionalOperational Performance

Strip Ratiosebesar

turun 3,4% YoY dari 7,9x di 2018.Strip Ratio at 7.6x, decreased by 3.4%from 7.9x in 2018.

7,6xPengupasan Lapisan Tanah Penutup (Overburden) sebesar

naik 0,04% YoY dari 656,0 mbcm.Overburden removal at 656.3 mbcm,increased by 0.04% YoY from 656.0 mbcm.

656,3mbcm

Produksi Batubara sebesar

naik 3,6% YoY dari 83,3 mt.Coal production reached 86.3 mt,increased by 3.6% YoY from 83.3 mt.

86,3metrik ton (mt)

Penjualan Batubara sebesar

naik 8,8% YoY dari 80,6 mt.Coal sales at 87.7 mt, increased by 8.8% YoYfrom 80.6 mt.

87,7metrik ton (mt)

Persediaan Batubara sebesar

turun 40,0% YoY dari 5,3 mt.Coal storage at 3.2 mt, decreased by 40.0% from 5.3 mt.

3,2metrik ton (mt)






Kinerja KeuanganFinancial Performance

Pendapatan Usaha sebesar

USD4.653,7 juta, turun 5,4% YoY dari USD4.919,6 juta.Revenues at USD4,653.7 million, decreased by 5.4% YoY from USD4.919.6 million.

Ekuitas Bersih Konsolidasi sebesar

USD723,8 juta, turun 23,2% YoY dari USD942,9 juta.Consolidated Net Equity at USD723.8 million, decreased 23.2% YoY from USD942.9 million.

Laba Usaha sebesar

USD423,8 juta, turun 51,8% YoY dari USD879,5 juta.Operating Income of USD423.8 million, decreased by 51.8% YoY from USD879.5 million.

Total Aset sebesar

USD4.470,8 juta, turun 9,0% YoY dari USD4.911,4 juta.Total Assets at USD4,470.8 million, decreased by 9.0% YoY from USD4,911.4 million.

Laba Bersih Konsolidasi Setelah Pajak sebesar

USD103,1 juta, turun 72,6% YoY dari USD376,5 juta.Consolidated Net Profit After Tax at USD103.1 million, decreased by 72.6% YoY from USD376.5 million.

Liabilitas sebesar

USD3.746,9 juta, turun 5,6% YoY dari USD3.968,5 juta.Liabilities at USD3,746.9 million, decreased by 5.6% YoY from USD3,968.5 million.

• Produksi batubara akan mencapai sekitar 100 juta metrik ton batubara per tahun;

• Investasi di teknologi clean coal;

• Meningkatkan kinerja harga saham;

• Melaksanakan program efektivitas biaya;

• Meningkatkan kualitas penerapan praktik GCG, CSR dan manajemen risiko dengan mengikuti praktik terbaik nasional dan internasional;

• Meningkatkan pengendalian internal dan praktik pelaporan keuangan; dan

• Meningkatkan reputasi Perseroan di mata publik dengan mengadakan liputan media secara teratur mengenai Perseroan dalam hal operasional, keuangan dan area lainnya.

• Annual coal production will reach approximately 100 million metric tons;

• Investment in clean coal technology;

• Improve the performance of stock price;

• Implement cost effectiveness program;

• Improve the quality of GCG, CSR, and risk management practices implementation by adhering to national and international best practices;

• Improve internal control and financial reporting practices; and

• Improve the Company’s reputation in the public’s perception by holding regular media coverage on the Company in terms of operations, financial, and other areas.

Tujuan Strategis BUMIOperational Performance






Ikhtisar KeuanganFinancial Highlights

Dalam USD Penuh, kecuali dinyatakan lain In Full USD, unless otherwise stated

Uraian 2019 2018 2017 2016 2015 Description

Pendapatan 1,112,566,618 1,111,820,412 17,366,667 23,372,429 40,506,538 Revenue

Laba Bruto 105,083,350 110,677,256 17,366,667 23,372,429 40,506,538 Gross Profit

Rugi Usaha 32,352,614 38,637,902 (21,070,352) (5,385,866) (9,374,800) Operating Loss

EBITDA 340,350,512 605,780,770 679.066.466 271,266,030 134,977,890 EBITDA

Penghasilan(Beban) Lain-lain - Neto

(51,368,711) 128,191,674 330,795,362 (3,998,166) (2,031,189,826) Other Expenses – Net

Rugi SebelumPajak Penghasilan

(19,016,097) 166,829,576 309,725,010 (9,384,032) (2,040,564,626) Loss Before Income Tax

Manfaat (Beban) Pajak Penghasilan- Neto

28,486,579 -8,611,227 (66,978,827) 129,639,742 (144,915,861) Income TaxBenefit

(Expense)- Net

Laba (Rugi)Tahun Berjalan

9,470,482 158,218,349 242,746,183 120,255,710 (2,185,480,487) Income (Loss)for the Year

Laba (rugi):Diatribusikankepada pemilikentitas induk

6,840,034 220,411,771 373,252,504 67,692,403 (1,925,410,201) Income (Loss)attributable to

equity holders ofparent entity

Laba (rugi):Diatribusikankepadakepentingannon- pengendali

2,630,448 (62,193,422 ) (130,506,321) 52,563,307 (260,070,286) Income (Loss)attributable to

non-controllinginterests

LabaKomprehensif

6,339,172 158,777,315 239,373,703 117,752,192 (2,186,386,830) ComprehensiveIncome

LabaKomprehensif:Diatribusikankepada pemilikentitas induk

3,596,885 220,970,737 369,880,024 65,212,147 (1,925,986,490) Comprehensiveincome

attributableto equity holders

of parent entity

LabaKomprehensif:Diatribusikankepadakepentingannon-pengendali

2,742,287 (62,193,422) (130,506,321) 52,540,045 (260,400,340) Comprehensiveincome

attributableto

noncontrollinginterests

Jumlah Rata-rata TertimbangSahamDasar (DalamRibuan Saham)

65,476,848,358 65,475,384,020 65,376,556,624 36,153,807,820 36,153,807,820 Weighted Average

Number ofOrdinary Shares

(In ThousandShares

Laba (Rugi) per Saham (Saham Dasaratau Dilusian per 1000 Saham)

0.1 3.37 5.71 1.87 (53.26) Basic/DilutedIncome (Loss)

per1000 Shares






Dalam USD Penuh, kecuali dinyatakan lain In Full USD, unless otherwise stated

Uraian 2019 2018 2017 2016 2015 Description

Investasi padaEntitas asosiasi

Investment inAssociates

Aset Lancar 454,001,034 460,903,744 758,083,685 529,147,220 541,962,176 Current Assets

Total Aset 3,702,805,778 3,906,773,939 3,696,498,624 3,102,193,700 3,394,276,258 Total Assets

Liabilitas Jangka Pendek

1,172,847,045 1,158,996,222 1,332,440,615 764,265,922 5,474,152,654 Current Liabilities

Total Liabilitas 3,192,870,099 3,403,162,098 3,410,147,622 5,886,968,507 6,299,187,989 Total Liabilities

Defisiensi Modal- Bersih

509,935,679 503,611,841 286,351,002 (2,784,774,807) (2,904,911,731) Capital - Net

Modal KerjaBersih

(718,846,011) (698,092,478) (574,356,930) (235,118,702) (4,932,190,478) Net WorkingCapital

Rasio (%) Ratio (%)

Laba terhadapAktiva

0.3% 4.0% 6.6% 3.9% -64.4% Return on Assets

Laba terhadapEkuitas

1.9% 31.4% 84.8% -4.3% 75.2% Return on Equity

Rasio Lancar 38.7% 39.8% 56.9% 69.2% 9.9% Current Ratio

Utang terhadapTotal Aktiva

86.2% 87.1% 92.3% 189.9% 185.6% Total LiabilitiesTotal Assets

Utang terhadapEkuitas

306.1% 317.9% 643.2% -161.2% -144.6% Debts to Equity

Marjin LabaKotor

9.4% 13.2% 100% 100% 100% Gross Margin

Marjin LabaUsaha

2.9% 3.5% -121.3% -23.0% -23.1% Operating Margin

Marjin LabaBersih

0.9% 14.2% 1,397.8% 514.5% -5,395.4% Net IncomeMargin

Nilai TukarPenutup padaAkhir Tahun (Rp/USD)

13,901 14,481 13,548 13,436 13,795 Year End ClosingExchange Rate

(IDR/USD)

Nilai TukarRata-Rata dalam Setahun(Rp/USD)

14,146 14,246 13,385 13,307 13,392 Average AnnualExchange Rate

(IDR/USD)

* Sesuai laporan yang diterbitkan | Published Report Corresponding BUMI tidak mengkonsolidasikan KPC dan Arutmin sejak 1 Januari 2015. Kepemilikan saham BUMI sebesar 51% di KPC dan 70% di Arutmin dihitung

sebagai ekuitas BUMI does not consolidate KPC and Arutmin from 1 January 2015. It’s ownership of 51% in KPC and 70% Arutmin is equity accounted.






Revenue

Net Profit

Total Assets

Total Liabilities

(Dalam Juta Dolar | In Million Dollar)




Pendapatan

Laba Bersih

Total Aset

Total Liabilitas

Ikhtisar KeuanganFinancial Highlights

1,112.6

2019

9.4

2019

3,702.8

2019

3,192.9

2019

2018

1,111.8

2018

158.2

2018

3,906.8

2018

3,403.2

2017

17.4

2017

242.7

2017

3,696.6

2017

3,410.1

2016

23.4

2016

120.3

2016

3,102.2

2016

5,887.0

2015

40.5

2015

(2,185.5)

2015

3,394.3

2015

6,299.2






Share Performance 2019-2018

Shares Trading Performance on the Indonesia Stock Exchange 2019-2018Grafik Perdagangan Saham di Bursa Efek Indonesia Tahun 2019-2018

Kinerja Saham 2019-2018

Ikhtisar SahamShares Highlights

TriwulanQuarterly

Tertinggi Highest

(Rp)

Terendah Lowest

(Rp)

PenutupanClosing

(Rp)

Volume Transaksi(Lembar)

Transaction Volume (Share)

Kapitalisasi PasarMarket Capitalization

(USD)

2019

I 180 102 123 228.891.000 565.0 juta | million

II 130 110 119 171.872.000 551.6 juta | million

III 122 90 90 77.947.000 415.7 juta | million

IV 99 63 66 140.026.000 310.6 juta | million

2018

I 330 287 292 285,019,100 1.4 miliar | billion

II 278 237 243 0 1.0 miliar | billion

III 242 217 219 694,562,500 948.5 juta | million

IV 191 122 124 291,283,700 464.4 juta | million

120,000,000

105,000,000

90,000,000

75,000,000

60,000,000

45,000,000

30,000,000

15,000,000

0

dalam Rupiah | in Rupiahjumlah saham | shares

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

200

175

150

125

100

75

50

25

0

Harga Penutupan | Closing Price Volume Perdagangan | Trading Volume






Ikhtisar ObligasiBonds Highlights

Aksi KorporasiCorporate Actions

Penghentian SementaraPerdagangan Saham/ Penghapusan Pencatatan SahamSuspension/Delisting

Selama tahun buku 2019, Perseroan tidak melaksanakan aksi korporasi.

Selama tahun 2019, Perseroan tidak mengalami penghentian sementara perdagangan saham/penghapusan/pencatatan saham.

During financial year 2019, the Company did not exercise any corporate action.

No suspension or delisting of the Company’s share trading/elimination/share listing during 2019.

Jumlah Obligasi Wajib Konversi (OWK) yang beredar (outstanding)Total Mandatory Convertible Bond (OWK) outstanding

8,337,521,688,350

Tingkat bunga/imbalanInterest rate/return

6%

Tanggal jatuh tempoMaturity date

7 tahun sejak tanggal emisi ( 26 Juli 2017)7 years as of issuance date (July 26, 2017)

Peringkat obligasiRating of bonds

Tidak adaNone






Peristiwa PentingEvent Highlights

Arutmin mengembangkan Kawasan Pariwisata Pantai Batu Buaya di Satui Kabupaten Tanah Bumbu.

Arutmin developed the Batu Buaya Beach Tourism Area in Satui, Tanah Bumbu Regency.

09 Januari | January 2019

BUMI Investor Gathering “Investment in BUMI Resources in between Trust and Unlimited Returns”, bertempat di Hotel Oakwood, Surabaya, Jawa Timur.

BUMI Investor Gathering “Investment in BUMI Resources in between Trust and Unlimited Returns”, which took place at Oakwood Hotel, Surabaya, East Java.

16 Februari | February 2019

Mengadakan program CSR yaitu operasi bibir sumbing tahap 2 (dua) untuk 20 pasien di Jakarta bertempat di RS Hermina Galaxy, Bekasi.

Conducted the CSR programs, namely cleft lip surgery stage 2 (two) for 20 patients in Jakarta, which took place at Hermina Galaxy Hospital, Bekasi.


Mengadakan Aktivitas Donor Darah yang dilaksanakan di Bakrie Tower, Jakarta.

Conducted the Blood Drive Activity, which was held at Bakrie Tower, Jakarta.








Mengadakan serah terima Tahap 1 pengadaan 3 (tiga) unit perpustakaan digital (KIPIN) untuk 3 (tiga) sekolah dasar di Cikarang, Jawa Barat.

Held the Phase 1 of the handover for the procurement of 3 (three) digital library units (KIPIN) for 3 (three) elementary schools in Cikarang, West Java.


Melakukan konstruksi 2 (dua) dari 4 (empat) perpustakaan di PAUD Taman Hati dan Al-Mabrur, Tangerang.

Construction of 2 (two) of 4 (four) libraries in PAUD Taman Hati and Al-Mabrur, Tangerang.

30 Maret | March 2019

Mengadakan serah terima Tahap 2 pengadaan 3 (tiga) unit perpustakaan digital (KIPIN) untuk 3 (tiga) sekolah dasar di Cikarang, Jawa Barat.

Held the Phase 2 of the handover for the procurement of 3 (three) digital library units (KIPIN) for 3 (three) elementary schools in Cikarang, West Java.

03 Mei | May 2019

BUMI melalui Arutmin merealisasikan program CSR bidang pendidikan dan peningkatan kapasitas kelembagaan pemerintah di site Kintap, Kalimantan Selatan.

BUMI through Arutmin realized its CSR program in education and government institutional capacity improvement at the Kintap site, South Kalimantan .

10 Mei | May 2019

BUMI melalui Arutmin merealisasikan program CSR bidang pendidikan dan olahraga di Kabupaten Tanah Laut, Kalimantan Selatan.

BUMI through Arutmin realized its CSR program in education and sports in Tanah Laut Regency, South Kalimantan.

03 Juni | June 2019






Melaksanakan RUPS Tahunan Perseroan yang diselenggarakan di Hotel JS Luwansa, Jakarta.

Hold of the Company’s AGMS, which was held at JS Luwansa Hotel, Jakarta.

18 Juni | June 2019

Menyelenggarakan Knowledge Update Workshop.

Organized the Konowledge Update Workshop.

28 Juni | June 2019

Menyelenggarakan Acara Groundbreaking PAUD Mekar Harum, Lombok.

Organized the Mekar Harum PAUD Groundbreaking Event, Lombok,

25 Juli | July 2019

Perseroan melakukan serah terima Sekolah PAUD Evitha Galuh bertempat di Desa Tegal Angus, Kecamatan Teluk Naga, Kabupaten Tangerang, Banten.

The Company handed over the Evitha Galuh PAUD School, which is located in Tegal Angus Village, Teluk Naga District, Tangerang Regency, Banten.

30 Juli | July 2019

Penyelenggaraan Investor Gathering “The Present and Future of Bumi Resources, Indonesia’s Largest Coal Producer”, bertempat di Hotel JW Marriot, Medan, Sumatera Utara.

Investor Gathering “The Present and Future of Bumi Resources, Indonesia’s Largest Coal Producer”, which was held at the JW Marriot Hotel, Medan, North Sumatra.

03 Agustus | August 2019







Menyelenggarakan Benchmarking Sharing Session: Human Rights and Best Practice dengan peserta pelatihan ISO 26000 bekerjasama dengan CFCD, BSN, SGN and CFCiD.

Organized the Benchmarking Sharing Session: Human Rights and Best Practice attended by ISO 26000 training participants, in collaboration with CFCD, BSN, SGN and CFCiD.


Menyelenggarakan Forum Manajemen Risiko dan CSR Grup BUMI (KPC, Arutmin, BRMS, PTDH, PEB, Gallo) di R Hotel Rancamaya Bogor.

Perseroan beserta perusahaan-perusahaan Grup Bakriemengadakan Upacara PengibaranBendera HUT ke-74 KemerdekaanRepublik Indonesia.

Perseroan juga mengadakan perlombaan antar pegawai dalam rangkat HUT ke-74 Kemerdekaan Republik Indonesia.

Holding the BUMI Group (KPC, Arutmin, BRMS, PTDH, PEB, Gallo) Risk Management and CSR Forum at the R of Rancamaya Hotel Bogor.

The Company and the companies in the Bakrie Group held a Flag-raising Ceremony in commemoration of the 74th Anniversary of the Independence of the Republic of Indonesia.

The company also held a competition between employees in the 74th anniversary of the Independence of the Republic of Indonesia.

12 September | September 2019


Melaksanakan kegiatan CSR “Membangun Masyarakat Mandiri” dalam mendukung program pemerintah untuk tujuan pembangunan berkelanjutan.

Carry out CSR activities “Building Independent Communities” in support of the government’s programs for sustainable development goals.

22 Oktober | October 2019

Penyelenggaraan aktivitas donor darah yang dilaksanakan di Bakrie Tower, Jakarta.

Blood drive activity, which was carried out at Bakrie Tower, Jakarta.

01 November | November 2019






Menyelenggarakan program sosialisasi pembersihan sampah dengan komunitas masyarakat di Babelan, Bekasi.

Organized a garbage cleaning socialization program with communities in Babelan, Bekasi.

11 November | November 2019

Perseroan, KPC, dan Arutmin menyelenggarakan workshop mengenai Significant Risk Assessment.

The Company, KPC, and Arutmin held workshops on Significant Risk Assessment.

20-21 November | November 2019

Menghadiri acara groundbreaking untuk Pembangunan Rumah Sigi Palu.

Attended the groundbreaking event for the Construction of Rumah Sigi Palu.

02 Desember | December 2019

Menyelenggarakan Knowledge Update “Current Economic Condition and Mining Industry Risks”.

Organized Knowledge Update “Current Economic Conditions and Mining Industry Risks”.


Menyelenggarakan kegiatan sirkumsisi massal di Bekasi, berkolaborasi dengan RS Hermina Galaxy, Bekasi.

Organized mass circumcision activities in Bekasi, in collaboration with Hermina Galaxy Hospital, Bekasi.






Laporan Manajemen

Management Report


20 Laporan Dewan KomisarisBoard of Commissioners’ Report


30 Laporan Direksi Board of Directors’ Report

40 Direksi Board of Directors’

42 Pernyataan Tanggung Jawab Laporan Tahunan 2019 oleh Dewan Komisaris dan DireksiStatement of Accountability of 2019 Annual Report by the Board of Commissioners and Board of Directors


Bersama dengan Direksi, kami terus menganalisis pergerakan iklim usaha dan memproyeksikan berbagai peluang di masa mendatang.

Together with the Board of Directors, we continue to analyze the business circumstances and to prepare our projection of future opportunities.

Laporan Dewan KomisarisBoard of Commissioners’ Report





Nalinkant A. RathodPresiden KomisarisPresident Commissioner






Pemegang Saham dan Pemangku Kepentingan yang Terhormat,

Sebagai salah satu perusahaan pertambangan terbesar di Indonesia, BUMI senantiasa berkomitmen untuk menjalankan kegiatan usaha yang transparan, profesional dan berintegritas sesuai dengan peraturan perundang-undangan yang berlaku. Komitmen ini terwujud melalui sistem dan prosedur kegiatan operasional kami yang terstruktur sehingga Perseroan dapat meraih peningkatan kinerja secara berkelanjutan.

Kami berbangga, bahwa di tengah iklim usaha yang kurang kondusif, BUMI mampu meraih pencapaian penjualan batubara tertinggi sepanjang sejarah, yaitu 87,7 MT. Pencapaian ini membuktikan kemampuan dan kesiapan Perseroan dalam bertahan secara kuat di tengah berbagai tantangan usaha yang terjadi sepanjang tahun.

TINJAUAN PEREKONOMIANSituasi perekonomian global sepanjang 2019 belum menunjukkan perbaikan dari tahun-tahun sebelumnya. Konflik perang dagang antara Amerika Serikat dan Tiongkok masih terus berlangsung sehingga menimbulkan dampak ketidakpastian yang berkepanjangan bagi perekonomian global. Perundingan Brexit masih menemui jalan buntu, sementara sejumlah negara mengalami risiko resesi dan ketegangan politik. Lebih lanjut, perlambatan ekonomi global tersebut menekan volume perdagangan dan harga komoditas dunia tetap rendah.

Pada 2019, Indonesia kembali merayakan pesta demokrasi terbesarnya, yaitu Pemilihan Umum Presiden dan Wakil Presiden Republik Indonesia periode 2019-2024. Meskipun situasi sosial politik sempat memanas pada triwulan pertama 2019 serta diwarnai sikap investor dan para pelaku usaha yang memilih untuk wait and see, penyelenggaraan pemilu terbilang sukses dan Indonesia memiliki Presiden dan Wakil Presiden baru, yaitu Joko Widodo dan Ma’ruf Amin.

As one of the largest mining companies in Indonesia, BUMI is committed to always carrying out business activities in a transparent and professional manner as well as with full integrity, in accordance with applicable laws and regulations. This commitment is realized through structured operational procedure and system, aimed to supporting the Company in achieving continuously performance improvement.

We are proud that against the backdrop of less favourable business conditions, BUMI is able to achieve the highest coal sales in its history, 87.7 MT. This achievement is evident for the Company’s ability and readiness to strongly withstand various business challenges occuring throughout the year.

ECONOMIC REVIEWThe year 2019 showed no significant improvement in global economic condition, compared to that of the previous years. The trade war between the United States and China is still carried on, leading to a prolonged uncertainty in the global economy. Brexit talks failed to break the deadlock, while a number of countries were on the brink of recession and showed increasing political tension. Furthermore, a slowdown in the global economic downturn had put pressures on trade volume and kept the commodity prices to remain low.

In 2019, Indonesia again held its largest democracy fest, the general election for President and Vice President of the Republic of Indonesia for the period 2019-2024. Although the socio-political tension was increasing in the first quarter of 2019, while investors and business community chose to wait and see, the holding of the said general election was fairly successful and Indonesia has had a new President and Vice President, namely Joko Widodo and Ma’ruf Amin.

Dear Shareholders and Stakeholders,







Tingkat pertumbuhan ekonomi Indonesia mengalami penurunan dari 5,17% pada 2018 menjadi 5,02% pada 2019. Kendati demikian, stabilitas ekonomi nasional tetap terjaga, di mana Indonesia berhasil menjaga tingkat inflasi di level 2,7% serta penguatan nilai tukar Rupiah terhadap Dolar Amerika Serikat menjadi Rp13.901 per 1 Dolar AS pada akhir 2019.

Sementara, tahun 2019 bukan merupakan tahun yang menguntungkan bagi industri pertambangan, di mana sektor ini tumbuh negatif sebesar 12,83%. Demikian halnya di sektor batubara, perlambatan perekonomian global mendorong terjadinya pembatasan impor batubara yang menyebabkan berlebihnya pasokan batubara di pasar global sehingga harga batubara acuan mengalami tekanan sepanjang 2019. Sebagai salah satu eksportir batubara terbesar di dunia, Indonesia tentu sangat merasakan dampak yang signifikan, termasuk bagi PT Bumi Resources Tbk.

PENILAIAN ATAS KINERJA DIREKSI

Kami menyadari bahwa tahun 2019 memiliki tantangan yang besar bagi industri pertambangan, dan Perseroan merupakan salah satu perusahaan yang terdampak atas kondisi tersebut. Kinerja keuangan Perseroan mengalami penurunan, di mana laba bersih turun dari USD158,8 juta pada 2018 menjadi USD6,4 juta pada 2019. Melihat kondisi ini, Dewan Komisaris dan Direksi terus menjalin komunikasi yang intensif untuk menyusun langkah-langkah strategis dalam rangka merespon situasi eksternal yang kurang kondusif ini. Direksi juga telah mengimplementasikan kebijakan-kebijakan terbaik untuk mempertahankan kinerja Perseroan sehingga mampu menghasilkan pertumbuhan positif.

Dalam bidang Investor Relations, Perseroan berhasil menyelenggarakan berbagai investor gathering yang berfokus untuk menjaring investor domestik, selain roadshow yang tetap dilakukan secara berkala ke luar negeri untuk menjangkau investor asing.

Indonesia economic growth decreased from 5.17% in 2018 to 5.02% in 2019. Nevertheless, the government successfully maintained national economic stability, with inflation rate of 2.7% and the Rupiah exchange rate against the Dollar strengthened to Rp.13,901 per 1 US Dollar at the end of 2019.

The year 2019 was not a favourable year for the mining industry, which saw a negative growth of -12.83%. Likewise in the coal sector, a slowdown in the global economy has led to restrictions on coal imports and prompting an excess supply of coal on the global market. As result, coal reference prices were weakened throughout 2019. As one of the largest coal exporters in the world, Indonesia is severely impacted by this situation and so is PT Bumi Resources Tbk.

ASSESSMENT OF THE BOARD OF DIRECTORS’ PERFORMANCEWe fully understand that the year 2019 was a challenging year for the mining industry, amid our Company is among those affected by the conditions. We posted a decrease in our financial performance, of which our net income fell from USD158.8 million in 2018 to USD6.4 million in 2019. Upon seeing this condition, the Board of Commissioners and the Board of Directors continue to establish intensive communication to develop strategic measures to cope with the less conducive situations. The Board of Directors also implemented the best policies in order to maintain the Company’s performance and generate positive growth.

Regarding Investor Relations, the Company has held various investor gatherings that focus on attracting domestic investors, in addition to roadshows that are regularly held overseas to reach foreign investors.






Perseroan juga memastikan bahwa seluruh karyawan terus meningkatkan kompetensinya agar mampu menjadi SDM yang unggul dan kompetitif di tengah persaingan industri yang agresif. Oleh karena itu, Perseroan menyediakan berbagai pelatihan, forum diskusi dan knowledge sharing agar seluruh anggota Perseroan senantiasa mampu beradaptasi dalam segala iklim usaha.

PENGAWASAN TERHADAP IMPLEMENTASI STRATEGI PERSEROANDalam melaksanakan tanggung jawab pengawasan terhadap kinerja Perseroan, Dewan Komisaris didukung oleh Komite Audit yang bertugas untuk memberikan pelaporan atas kinerja dan perkembangan Perseroan. Berdasarkan pengawasan kami, Perseroan telah mengambil langkah strategi yang tepat dalam meningkatkan kapasitas produksi di KPC dan Arutmin. Hal ini dapat terlihat dengan baik melalui peningkatan produksi batubara siap jual oleh KPC dari tambang Sangatta dan Bengalon, yaitu sebesar 61,8 juta ton, tumbuh 11% dari tahun 2018 sebesar 55,8 juta ton. Sementara, Arutmin juga mencatatkan kinerja positif melalui peningkatan penjualan batubara, yaitu dari 25,5 juta ton menjadi 25,9 juta ton.

PANDANGAN ATAS PROSPEK USAHA PERSEROAN YANG DISUSUN OLEH DIREKSI Saat ini, Perseroan masih memprioritaskan produksinya untuk memasok kebutuhan dalam negeri dan kami meyakini konsumsi batubara Indonesia akan terus meningkat seiring dengan pembangunan pembangkit listrik serta pengembangan industri hilirisasi batubara. Namun demikian, penjualan ekspor batubara juga terus dilakukan untuk menjaga peluang usaha Perseroan. Oleh karena itu, prospek usaha yang disusun Direksi akan mengikuti arah perkembangan industri batubara domestik dan global.

The Company also ensures that all employees continue to improve their competencies so that they are able to become excelent and competitive HR amid aggressive industrial competition. Therefore, the Company holds various training programs, discussion forums and knowledge sharing so that all employees of the Company are able to adapt well in all business climates.

SUPERVISION ON THE IMPLEMENTATION OF THE COMPANY’S STRATEGYIn carrying out the oversight on matters pertaining to the Company’s performance, the Board of Commissioners is supported by the Audit Committee tasked to provide report on the Company’s performance and development. We view that the Company has taken right strategic measures in increasing production capacities at KPC and Arutmin. This can be well proven by increasing KPC’s production of ready-to-sell coal from the Sangatta and Bengalon mines, amounted to 61.8 million tons, grew 11% from 2018 of 55.8 million tons. Meanwhile, Arutmin also recorded positive performance through its coal sales increase, from 25.5 million tons to 25.9 million tons.

VIEW ON THE COMPANY’S BUSINESS PROSPECTS PREPARED BY THE BOARD OF DIRECTORSAt present, the Company is still prioritizing its production to supply domestic demands and we are confident that Indonesian coal consumption will continously increase along with construction of power plants and the development of coal downstream industry. However, coal export sales also continue to be carried so as to maintain the Company’s business opportunities. Therefore, the business prospects as prepared by the Board of Directors shall follow the trends of domestic and global coal industry.






Bersama dengan Direksi, kami terus menganalisis pergerakan iklim usaha dan memproyeksikan berbagai peluang di masa mendatang. Prospek usaha Perseroan telah disusun oleh Direksi secara cermat dan penuh pertimbangan melalui langkah-langkah strategis untuk memperkuat fundamental Perseroan serta berbagai inisiatif untuk meningkatkan penjualan batubara dan menjaga pertumbuhan yang positif di masa depan. Namun demikian, kami berpendapat bahwa perekonomian global pada 2020 masih akan menunjukkan ketidakpastian. Meluasnya pandemi Covid-19 yang melanda hampir ke seluruh negara di dunia telah melemahkan arus perdagangan antar negara. Untuk itu, kami terus memberikan arahan kepada Direksi agar senantiasa mengantisipasi dampak pandemi ini dengan mengambil berbagai tindakan yang diperlukan. Kami berharap, seluruh kegiatan operasional dapat berjalan lancar dan sesuai target yang telah dicanangkan.

PANDANGAN ATAS PENERAPAN PRAKTIK GCG PERSEROANKami mengapresiasi Perseroan yang senantiasa menjalankan praktik GCG secara konsisten. Pelaksanaan praktik GCG secara terintegrasi menjadi landasan penting bagi Perseroan untuk menjalankan kegiatan usahanya secara transparan dan profesional. Praktik GCG Perseroan dikelola secara struktural dan prosedural sesuai ruang lingkup tugas dan tanggung jawab masing-masing organ, tanpa mendominasi organ lainnya serta terhindar dari potensi terjadinya benturan kepentingan.

Sesuai dengan roadmap GCG BUMI, tahun ini Perseroan berfokus untuk melakukan penelaahan dan peningkatan berbagai kebijakan, peningkatan perencanaan dan pelaksanaan RUPS, peningkatan pengungkapan Laporan Tahunan dan peningkatan pengelolaan situs web Perseroan.


Together with the Board of Directors, we continue to analyze the business circumstances and to prepare our projection of future opportunities. The business prospects of the Company have been carefully prepared by the Board of Directors through strategic steps to strengthen the Company’s fundamentals and various initiatives to increase coal sales and maintain positive growth in the future.

However, we believe that the global economy in 2020 will be full of uncertainty. The Covid-19 pandemic outbreak that plagued virtually all countries in the world has weakened the trade among countries. For this reason, we continue to advice the Board of Directors for taking various necessary actions in anticipation of the impact of the pandemic. We expect that all operations will run smoothly and in accordance with the planned targets.

VIEW OF THE IMPLEMENTATION OF THE GCG PRACTICESWe appreciate that the Company always applying GCG principles consistently. Integrated GCG implementation is a solid foundation for the Company to carry out its business activities transparently and professionally. The Company’s GCG practices are managed structurally and procedurally according to the scope of duties and responsibilities of each organ, without dominating other organs and avoiding potential conflicts of interest.

In accordance with BUMI’s GCG roadmap, this year the Company is focused on reviewing and improving various policies, improving the plan and the holding of GMS, increasing information disclosure on Annual Report and improving the management of the Company’s website.






Secara rutin, Dewan Komisaris melakukan self-assessment terkait penilaian kinerja masing-masing anggota Dewan Komisaris serta secara kolegial. Untuk memastikan bahwa seluruh organ GCG bekerja dengan optimal dan independen sesuai dengan ruang lingkup kerjanya, Dewan Komisaris melakukan penilaian secara berkala atas kinerja komite-komite yang berada di bawah Dewan Komisaris, yaitu Komite Audit, Komite Nominasi dan Remunerasi, serta Komite Manajemen Risiko. Berdasarkan penilaian kami, para komite telah menjalankan tugas dan tanggung jawabnya dengan baik serta telah menyampaikan pelaporan secara akurat dan tepat waktu.

Sebagai bentuk penerapan kegiatan pengawasan, kami memberikan dukungan positif terhadap pelaksanaan sosialisasi atas perkembangan praktik GCG yang diadakan Perseroan setiap tahun. Tahun ini, sosialisasi praktik GCG kepada para karyawan dilakukan dalam acara Risk Management dan CSR Workshop pada 12 September 2019. Selain itu, pada 25 Februari 2019, seluruh anggota Dewan Komisaris telah menandatangani Formulir Ketaatan Terhadap Pedoman Perilaku.

PANDANGAN ATAS PENGELOLAAN WHISTLEBLOWING SYSTEM (WBS) Dalam meningkatkan kualitas penerapan WBS, kami senantiasa melakukan pengawasan atas pengelolaan pelaporan yang diterima oleh Perseroan dan memastikan seluruh prosedur tindak lanjut dilakukan secara tepat. Kami meyakini nahwa keberhasilan penerapan WBS merupakan salah satu aspek penting dalam meningkatkan kualitas praktik GCG di lingkungan Perseroan. Pada 2019, Perseroan kembali melakukan perbaikan dan pengembangan pada Sepak-Up System untuk meningkatkan efektivitas program Whistleblowing System.

Routinely, the Board of Commissioners conducts self-assessment on the individual and collegial performance of the Board of Commissioners. To ensure that all GCG organs work optimally and independently in accordance with their scope of work, the Board of Commissioners conducts periodic assessments of the performance of the committees under the Board of Commissioners, namely the Audit Committee, the Nomination and Remuneration Committee, and the Risk Management Committee. Based on our assessment, we view that the committees have carried out their duties and responsibilities well and have submitted accurate and timely reporting.

As a form of supervision, we support the socialization of GCG practices held by the Company every year. This year, the socialization of GCG practices to employees was carried out during the Risk Management and CSR Workshop on September 12, 2019. In addition, on February 25, 2019, all members of the Board of Commissioners signed the Compliance Form on the Code of Conduct.

VIEW OF THE MANAGEMENT OF THE WHISTLEBLOWING SYSTEM (WBS)In improving the quality of WBS implementation, we always supervise the management of incoming complaints to ensure that the procedures of follow-up are carried out appropriately in all aspects. We believe that the successful implementation of WBS is an important aspect in improving the quality of GCG practices within the Company. In 2019, the Company will continue to improve and develop the Speak-Up System to increase the effectiveness of the Whistleblowing System program.






FREKUENSI DAN CARA PEMBERIAN NASIHAT KEPADA DIREKSI

Secara proaktif, kami menyampaikan gagasan, pandangan, dan masukan kepada Direksi Perseroan agar proses pengambilan keputusan dapat dijalankan secara bertanggungjawab dan penuh kehati-hatian. Kami mengadakan rapat gabungan secara rutin dengan Direksi untuk membahas berbagai isu terkini, kinerja, serta kebijakan dan keputusan strategis terkait kepentingan Perseroan, termasuk menyampaikan pandangan dan rekomendasi sebagai bahan dipertimbangkan lebih lanjut. Selain rapat rutin, penyampaian nasihat Dewan Komisaris kepada Direksi juga dilakukan dalam berbagai kesempatan tatap muka, pertemuan, serta forum-forum diskusi baik secara formal maupun informal. Pada 2019, kami telah menyelenggarakan 6 (enam) kali rapat internal dan 6 (enam) kali rapat gabungan bersama dengan Direksi.

PERUBAHAN KOMPOSISI DEWAN KOMISARIS Sepanjang 2019, tidak ada perubahan terhadap komposisi Dewan Komisaris Perseroan. Dengan komposisi yang sama, kami terus memperkuat kerja sama dan komunikasi antar anggota komisaris agar bersama-sama dapat memberikan manfaat bagi upaya pertumbuhan kinerja Perseroan dan menciptakan nilai bagi para pemegang saham.


FREQUENCY AND METHOD OF PROVIDING ADVICE TO THE BOARD OF DIRECTORSWe proactively convey ideas, views, and input to the Company’s Board of Directors so that the decision making process is always carried out responsibly and prudently. We hold regular joint meetings with the Board of Directors to discuss various current issues, performance, and policies and strategic decisions related to the interests of the Company, including expressing views and recommendations as material for further consideration. In addition to regular meetings, the Board of Commissioners gives advice to the Board of Directors in face-to-face meeting or during the board meetings and discussion forums, both formal and informal. In 2019, we held 6 (six) internal meetings and 6 (six) joint meetings with the Board of Directors.

CHANGES IN THE COMPOSITION OF THE BOARD OF COMMISSIONERSDuring 2019 , there were no changes to the composition of the Company’s Board of Commissioners. With the same composition, we continously strengthened cooperation and communication between the commissioners so that they can jointly contribute more to the efforts of improving the Company’s performance and creating values for shareholders.






APRESIASIMenutup laporan ini, saya dan segenap jajaran Dewan Komisaris mengucapkan terima kasih atas kerja keras, kontribusi, dan peran seluruh pihak yang telah mendukung kinerja BUMI sepanjang 2019. Khususnya, kami mengapresiasi kinerja Direksi yang telah melakukan pengelolaan Perseroan secara optimal. Selain itu, kami juga mengucapkan terima kasih dan apresiasi yang tinggi kepada seluruh karyawan yang telah bekerja keras mendukung kinerja Perseroan, serta seluruh Entitas Anak yang terus berupaya mencatatkan pertumbuhan yang positif. Akhir kata, kami berkomitmen untuk terus mendukung pertumbuhan BUMI secara berkelanjutan agar mampu memberikan manfaat dan kontribusi positif bagi masyarakat dan negara.

Nalinkant A. RathodPresiden Komisaris

President Commissioner

APPRECIATIONTo close the report, on behalf of the Board of Commissioners, I would like to express our appreciation for the hard work, contributions, and roles of all parties who have supported BUMI’s performance throughout 2019. In particular, we appreciate the performance of the Board of Directors who has optimally managed the Company. In addition, we would also like to express our gratitude and high appreciation to all employees who have been working hard to support the Company, as well as all Subsidiaries, who continuously strive to post a positive growth. Finally, we are committed to continuously support the growth of BUMI in order to give more contributions to society and the nation.


Dewan KomisarisBoard of Commissioners’

12347 6 5 8






Nalinkant A. RathodPresiden KomisarisPresident Commissioner

1.

4.

7.

5.

8.

6.

2. 3.Eddie J. SubariKomisarisCommissioner

Y.A. Didik CahyantoKomisaris IndependenIndependent Commissioner

Wen YaoKomisarisCommissioner

Anton Setianto SoedarsonoKomisaris IndependenIndependent Commissioner

Kanaka PuradiredjaKomisaris IndependenIndependent Commissioner

Jinping MaKomisarisCommissioner

Thomas Myer KearneyKomisarisCommissioner










Laporan DireksiBoard of Directors’ Report

Saptari HoedajaPresiden Direktur

President Director

Pada 2019, Perseroan berhasil mencatatkan

penjualan batubara sebesar 87,7 MT ke dalam negeri dan lebih dari 10 negara,

dengan konsumsi tertinggi untuk kebutuhan domestik

yaitu sebesar 29,9 juta ton.

In 2019, the Company managed to record

coal sales of 87.7 MT to both domestic

and more than 10 countries, with

major portion sold for domestic

consumption of 29.9 million tons.






Pertama-tama, izinkan kami memanjatkan syukur kepada Tuhan yang Maha Kuasa, karena atas rahmat-Nya, Perseroan dapat melalui tahun 2019 dengan baik. Melalui laporan ini, kami akan menyampaikan inisiatif-inisiatif strategis dan perkembangan kinerja yang telah dilakukan BUMI sepanjang 2019 sesuai dengan rencana kerja yang telah ditetapkan.

Dalam menghadapi perkembangan dunia usaha yang penuh ketidakpastian, BUMI terus berkomitmen untuk memperkuat konsolidasi dan kolaborasi secara internal dan juga dengan Entitas Anak, agar bersama-sama kami dapat meraih pertumbuhan kinerja yang lebih baik. Hal ini kami buktikan dengan meningkatnya penjualan batubara Perseroan sebesar 8,8% menjadi 87,7 MT, yaitu jumlah produksi terbesar BUMI sepanjang sejarah. Pencapaian ini juga merupakan wujud dukungan dan kontribusi besar kami terhadap pertumbuhan industri pertambangan nasional.

TINJAUAN PEREKONOMIANSepanjang 2019, perekonomian global masih mengalami perlambatan pertumbuhan dari tahun sebelumnya. Perlambatan ekonomi dunia dimulai sejak triwulan pertama 2019 yang ditandai oleh penurunan aktivitas konsumsi dan investasi seiring melemahnya sentimen konsumen dan bisnis. Penurunan ini terutama dipengaruhi oleh ketidakpastian global akibat perang dagang antara Amerika Serikat (AS) dan Tiongkok yang belum mencapai kesepakatan hingga akhir 2019. Eskalasi konflik dagang tersebut semakin menekan aktivitas perdagangan global sehingga berdampak pada kinerja ekspor dan menurunnya permintaan global. Akibatnya terjadi stagnasi harga komoditas dunia, meskipun harga minyak dan logam cenderung membaik seiring penurunan pasokan.

First of all, please allow us to thank God the Almighty for His blessings and mercy, so that the Company was able to get through the year 2019 well. Through this report, we would like to convey the strategic initiatives and performance carried out by BUMI throughout 2019 in accordance with the work plans that have been set.

Against the uncertainty of business developments, BUMI keeps its commitment to further strengthen consolidation and collaboration internally and with subsidiaries as well, so that together we can achieve better performance. This is proven by the increase in the Company’s coal sales by 8.8% to 87.7 MT, reaching the highest level in the history of the Company. This achievement is also evidence of our great support and contribution to the growth of national mining industry.

ECONOMIC REVIEWThroughout 2019, the global economy continued to experience a slower growth from the previous year. The slowdown began in the first quarter of 2019, marked by a decline in consumption and investment, as consumer and business sentiment weakend. This decline was mainly influenced by global uncertainties arising from the trade war between the United States (US) and China which had not reached an agreement until the end of 2019. The escalation of the trade tension further depressed global trade activities, thereby impacted export performances and led to a decline in global demand. As a result, there had been a stagnation in the world’s commodity prices, even though oil and metal prices have shown a tendency of improvement as supply declined.

Pemegang Saham dan Pemangku Kepentingan yang Terhormat,Dear Shareholders and Stakeholders,







Indonesia was also affected by this global uncertainty. In addition, throughout 2019 the socio-political tension was high due to the general election for the 2019-2024 President and Vice President. This circumstances led to the decline of investments as investors chose to wait and see. Indonesia’s economic growth recorded at 5.02% in 2019, down from 5.17% in 2018. Nevertheless, Indonesia was able to maintain the inflation rate at 2.72% and manage stability in the domestic consumption level. Meanwhile, export activity decreased by 6.94% during 2019 due to declining global demand for coal.

In response to the dynamics of global economic condition, Bank Indonesia (BI) continued to maintain its 7-day Reverse Repo Rate (BI7DRR) at 6.00%, the Deposit Facility interest rate at 5.25%, and the Lending Facility interest rate at 6.75 %.

INDUSTRY OVERVIEWAs of 31 December 2019, ICE NewCastle Coal Futures price was closed at USD69.05/ton. The coal price fell from the previous level, which closed at USD69.40/ton, or corrected by 0.5%. In general, coal prices had declined by more than 30% since the start of 2019.

Based on data by Refinitiv, China’s monthly coal imports in December 2019 were recorded at 5.7 million tons,, lower than in December 2018. Meanwhile, total coal inventories at the major ports of northern China, namely Caofeidian, Qinhuagndao and Jingtang were 14.3 million tons as of December 27, 2019, lower than the same period of the previous year which were 16.67 million tons. In addition, as the world’s second highest coal consumption, India was also struggling with the government’s policy that requires the installation of sulfur oxide pollution control facilities. India’s coal imports in December 2019 reached 14.5 million tons, down from last year’s 16.1 million tons. This was due to total coal supply in various power plants in India that rose to 31.5 million tons, or equivalent to 18 days of use.

Indonesia turut menjadi negara yang terdampak oleh ketidakpastian global. Tak hanya itu, sepanjang 2019 suasana sosial politik di dalam negeri juga memanas seiring perhelatan Pemilihan Umum Presiden dan Wakil Presiden 2019-2024, di mana kondisi tersebut berdampak pada penurunan investasi akibat sikap wait and see dari sejumlah investor. Tingkat pertumbuhan ekonomi Indonesia tercatat sebesar 5,02% pada 2019, menurun dari 5,17% pada 2018. Kendati demikian, Indonesia mampu menjaga tingkat inflasi di level 2,72% serta berhasil mempertahankan stabilitas tingkat konsumsi dalam negeri. Sementara, kegiatan ekspor turun sebesar 6,94% sepanjang 2019 karena menurunnya permintaan global batubara.

Dalam merespons dinamika kondisi ekonomi global, Bank Indonesia (BI) terus mempertahankan BI 7-day Reverse Repo Rate (BI7DRR) sebesar 6,00%, suku bunga Deposit Facility sebesar 5,25%, dan suku bunga Lending Facility sebesar 6,75%.

TINJAUAN INDUSTRIPada 31 Desember 2019, harga batubara berjangka ICE Newcastle ditutup di posisi USD69,05/ton. Harga baru bara turun dari perdagangan sebelumnya yang ditutup di level USD69,40/ton atau setara dengan terkoreksi sebesar 0,5%. Secara umum, harga batubara menurun drastis lebih dari 30% sejak awal 2019.

Melansir data Refinitiv, impor batubara Tiongkok bulanan pada Desember 2019 tercatat sebesar 5,7 juta ton, lebih rendah dibandingkan Desember 2018. Sementara itu, persediaan batubara di pelabuhan utama Tiongkok bagian utara yaitu Caofeidian, Qinhuagndao dan Jingtang berada di posisi 14,3 juta ton per 27 Desember 2019, lebih rendah dibandingkan periode yang sama tahun sebelumya yakni sebesar 16,67 juta ton. Selain itu, India sebagai negara dengan konsumsi batubara kedua terbesar juga tengah bergulat dengan kebijakan pemerintah yang mewajibkan adanya instalasi fasilitas pengendali polusi sulfur oksida. Impor batubara India pada Desember 2019 mencapai 14,5 juta ton, menurun dibandingkan tahun lalu yaitu 16,1 juta ton. Hal ini disebabkan karena total persediaan batubara di berbagai pembangkit listrik di India naik menjadi 31,5 juta ton atau setara dengan 18 hari penggunaan.






STRATEGIC POLICIES DURING THE FISCAL YEARIn order to improve its performance, the Company maintained a production target of 88-90 million tons in 2019, consisting of KPC of 60 million tons and Arutmin of 28-30 million tons. In addition, the Company seeks to expand its line of business into the coal gasification sector by keep conducting feasibility studies to explore various prospective opportunities.

In the non-coal mining sector, through Bumi Resources Minerals, the Company make every effort to always achieve production targets in mine-sites that are already operational.

ANALYSIS OF THE COMPANY’S PERFORMANCEIn 2019, the Company managed to record coal sales of 87.7 MT to both domestic and more than 10 countries, with major portion sold for domestic consumption of 29.9 million tons. The sales increased 8.8% from last year’s 80.6 million tons and was the highest throughout the Company’s history. The Company exported its coal under 8 (eight) brands, with the largest contribution respectively were Melawan 43.3 million tons, Ecocoal 15.9 million tons and Pinang 15.4 million tons. By the type of buyer, the biggest buyer was power plant companies, which bought 49.0 million tons of Company’s coal. This reflects realization of the government’s efforts to accelerate the growth of the power sector.

One of the Company’s Subsidiaries, KPC, posted significant work achievements in 2019. It worked through a 10.7% increase in ready-to-sell coal, from 55.8 million tons in 2018 to 61.8 million tons in 2019, and an increase in coal mined by 6.7% from 57.0 million tons in 2018 to 60.8 million tons in 2019. Throughout 2019, Arutmin continued to maintain a stable performance. Coal mined was posted at 25.5 million tons, stable from 2018, which was 25.9 million tons, coal production reached 25.5 million tons and coal sales increased to 25.9 million tons.

KEBIJAKAN STRATEGIS SELAMA TAHUN BUKUDalam rangka meningkatkan kinerja, Perseroan mempertahankan target produksi sebesar 88-90 juta ton pada 2019, yang terdiri dari KPC sebesar 60 juta ton dan Arutmin sebesar 28-30 juta ton. Selain itu, Perseroan berupaya memperluas bisnis ke sektor gasifikasi batubara dengan terus melakukan studi kelaikan (feasibility study) untuk mencari berbagai peluang baru yang prospektif.

Dalam bidang pertambangan nonbatubara, melalui Bumi Resources Minerals, Perseroan senantiasa berupaya untuk mencapai target produksi pada tambang-tambang yang sudah layak untuk dioperasikan.

ANALISIS ATAS KINERJA PERSEROAN

Pada 2019, Perseroan berhasil mencatatkan penjualan batubara sebesar 87,7 MT ke dalam negeri dan lebih dari 10 negara, dengan konsumsi tertinggi untuk kebutuhan domestik yaitu sebesar 29,9 juta ton. Pencapaian penjualan ini meningkat 8,8% dari tahun lalu yaitu 80,6 juta ton dan merupakan pencapaian tertinggi sepanjang sejarah. Perseroan mengekspor 8 (delapan) merek produk batubara, dengan kontribusi terbesar masing-masing yaitu Melawan sebesar 43,3 juta ton, Ecocoal sebesar 15,9 juta ton, dan Pinang sebesar 15,4 juta ton. Berdasarkan tipe pembeli, produk batubara Perseroan terserap paling besar oleh perusahaan pembangkit tenaga listrik yaitu 49,0 juta ton. Hal ini semakin menunjukkan bahwa upaya pemerintah untuk mendorong pertumbuhan sektor kelistrikan secara cepat terealisasikan.

Salah satu Entitas Anak Perseroan, KPC, menorehkan pencapaian kerja yang signif ikan pada 2019. Pencapaian ini tampak melalui peningkatan kapasitas batubara siap jual sebesar 10,7% yaitu dari 55,8 juta ton pada 2018 menjadi 61,8 juta ton pada 2019, serta peningkatan batubara ditambang sebesar 6,7% dari 57,0 juta ton pada 2018 menjadi 60,8 juta ton pada 2019. Sepanjang 2019, Arutmin terus mempertahankan kestabilan kinerjanya. Batubara ditambang tercatat sebesar 25,5 juta ton, stabil dari 2018 yaitu 25,9 juta ton, produksi baru bara mencapai 25,5 juta ton serta penjualan batubara meningkat menjadi 25,9 juta ton.






In terms of f inancial, the Company managed to record revenues of USD1,112.6 million in 2019, increased from USD1.111.8 million in 2018. The overall performance of coal industry in 2019 also contributed to the decline in the Company’s net profit to USD6.4 million. However, in 2019, the Company successfully completed cash payments of USD134.70 million for Tranche A.

In the midst of unfavorable industry conditions, the Company was awarded with several awards, including the Best Non-Financial Sector Mid-Cap Listed Company Award from the Indonesian Institute for Corporate Director (IICD) and the SILVER category in the 2019 Indonesian Sustainable Development Goals Award (ISDA) ) f rom the Corporate Forum for Community Development (CFCD). These achievements will certainly strengthen our motivation and commitment to continuously improve the Company’s performance in the future.

COMPARISON OF TARGETS AND ACHIEVEMENTSEach year, the Company continues to set various performance targets, both in terms of operational and f inancial. Throughout 2019, in general, these targets can be realized with a satisfactory performance.

CONSTRAINTS FACED BY THE COMPANYThe Company understands that the main challenges in the coal mining business are natural conditions and rainfall that can disrupt the production process at any time. However, the Company always tries to adjust its operation to the rhythm of the weather by making operational plans on a carefully and thoroughly manner. In addition, the use of coal for electricity generation continues to experience pressure all around the world, however the Company believes that for the foreseeable future, coal is still needed as the main pillar of energy in many countries.

Dari sisi keuangan, Perseroan berhasil membukukan pendapatan sebesar USD1.112,6 juta pada 2019 meningkat dari USD1.111,8 juta di tahun 2018. Kinerja industri batubara yang secara keseluruhan menurun pada 2019 turut mempengaruhi penurunan laba bersih Perseroan menjadi USD6,4 juta. Walaupun demikian, pada 2019, Perseroan berhasil menyelesaikan pembayaran secara tunai (cash) sebesar USD134,70 juta untuk Tranche A.

Di tengah kondis i industr i yang kurang menguntungkan, Perseroan berhasil meraih beberapa penghargaan, di antaranya sebagai Best Non-Financial Sector Mid-Cap Listed Company Award dari Indonesian Institute for Corporate Director (IICD) dan menerima kategori SILVER dalam ajang Indonesian Sustainable Development Goals Award (ISDA) 2019 oleh Corporate Forum for Community Development (CFCD). Berbagai capaian ini tentu semakin memperkuat motivasi dan komitmen kami untuk terus meningkatkan kinerja Perseroan di masa mendatang.

PERBANDINGAN TARGET DAN PENCAPAIAN Setiap tahunnya, Perseroan terus menetapkan berbagai target kinerja, baik dalam hal operasional dan finansial. Secara umum, target-target tersebut dapat direalisasikan dengan baik sepanjang 2019.

KENDALA YANG DIHADAPI PERSEROAN Perseroan memahami bahwa kendala utama dalam bisnis pertambangan batubara adalah keadaan alam dan curah hujan yang setiap saat dapat mengganggu produksi. Namun, Perseroan selalu berupaya mengikuti ritme cuaca dengan membuat rencana operasional yang cerdas dan matang. Di samping itu, penggunaan batubara sebagai bahan baku pembangkit listrik terus mengalami tekanan di dunia, namun Perseroan yakin untuk beberapa tahun ke depan ini batubara masih tetap menjadi penopang utama energi di berbagai negara.







BUSINESS PROSPECT2020 is predicted to be a very challenging year for all countries. In addition to the sluggish global economy, the world is also caught unprepared by corona virus or Covid-19 outbreak. Until the first quarter of 2020, this outbreak has been declared as a global pandemic that spread to almost all countries. The global impact caused by Covid-19 almost paralyzed various aspects of the economy and trades between countries due to various restrictions imposed by each country in order to prevent the outbreak.

In responding to the economic development and fiscal policies, the Indonesia economy will be projected to slow down compared to the previous year. However, the government remains optimistic that the national economy can grow positively to 2.3% in 2020.

Meanwhile, the Ministry of Energy and Mineral Resources (ESDM) has set an increase in the national coal production target in 2020 to 550 million tons from 489 million tons in 2019, from which was it had been successfully realized at 610 million tons. The realization of coal production in 2019 increased along with the growth in the Mining Business Permit (IUP) for production stage granted by the Provincial Government.

The Company positively welcomes the government’s step to continuously encourage coal mining investment through the elimination of coal royalties, which is planned to be further processed through the Omnibus Law. This was also appreciated by the Indonesian Coal Mining Association (APBI), who is assured that strengthening its down-stream can add values to the coal industry. In addition, we also analyze that coal demand for domestic market has continuously increased in recent years, we, thus, are optimistic that this will maximally utilize domestic needs in the years to come.

PROSPEK USAHA Tahun 2020 diprediksikan menjadi tahun yang sangat menantang bagi seluruh negara di dunia. Selain perekonomian global yang akan terus melambat, dunia juga dikejutkan oleh mewabahnya virus corona atau Covid-19. Hingga triwulan pertama 2020, wabah ini telah berstatus sebagai pandemi global yang meluas ke hampir seluruh negara. Dampak global yang ditimbulkan oleh Covid-19 nyaris melumpuhkan berbagai segi perekonomian dan perdagangan antar negara akibat berbagai pembatasan yang dilakukan masing-masing negara dalam rangka mencegah meluasnya wabah tersebut.

Dalam menyikapi perkembangan ekonomi dan langkah kebijakan fiskal, perekonomian Indonesia diprediksi akan tumbuh melambat dibandingkan tahun sebelumnya. Namun demikian, pemerintah tetap optimis bahwa ekonomi nasional dapat tumbuh positif sebesar 2,3% di tahun 2020.

Sementara itu, Kementerian Energi dan Sumber Daya Mineral (ESDM) telah menetapkan peningkatan target produksi batubara nasional pada 2020 menjadi sebesar 550 juta ton dari 489 juta ton pada 2019, dimana yang berhasil terealisasi sebenarnya sebesar 610 juta ton. Realisasi produksi batubara di 2019 meningkat seiring bertambahnya Izin Usaha Pertambangan (IUP) tahap produksi yang diberikan Pemerintah Provinsi.

Perseroan menyambut positif langkah pemerintah untuk terus mendorong investasi pertambangan batubara melalui penghapusan royalti batubara, yang rencananya akan diolah lebih lanjut melalui Omnibus Law. Hal ini juga diapresiasi oleh Asosiasi Pertambangan Batubara Indonesia (APBI), dimana hilirisasi ini dapat meningkatkan nilai tambah industri batubara. Selain itu, kami juga menganalisis bahwa kebutuhan batubara dalam negeri terus meningkat dalam beberapa tahun terakhir, sehingga kami optimis bahwa hal ini akan dapat dimanfaatkan secara maksimal untuk kebutuhan domestic di beberapa tahun mendatang.






IMPLEMENTATION OF GCG PRACTICESIn carrying out sustainable business activities, the Company realizes that BUMI must become a company that is adaptive to change and is resistant to all business challenges, both internally and externally. To realize this, the Company must have a strong foundation that can strengthen the cohesiveness between all aspects so that it can move together towards one direction and to reach a similar goal, namely the Company’s vision.

For this reason, we understand that the implementation of GCG practices is essential in determining the clarity of functions of each organ of the Company, so that each organ of the Company can carry out its duties and roles optimally. The Company ensures that BUMI’s GCG practices always meet the applicable laws and regulations.

We regularly evaluate the committees under the Board of Directors, namely the Code of Conduct Committee, Human Resources Committee, Information Technology Steering Committee. In our opinion the Corporate Secretary and the Internal Audit Unit have carried out their roles and performed their duties optimally in supporting the implementation of the duties and responsibilities of the Board of Directors.

Throughout 2019, the Company has carried out various GCG programs strategically, such as the holding of the Great Forum of Investors in Medan, together with the Indonesian Young Entrepreneurs Association (HIPMI) and became one of 42 issuers participating in the 2019 Public Expose Live event, held by PT Bursa Efek Indonesia (BEI), PT Kliring Penjaminan Efek Indonesia (KPEI), and PT Kustodian Sentral Efek Indonesia (KSEI) on August 28, 2019.

PENERAPAN PRAKTIK GCG

Dalam menjalankan kegiatan usaha yang berkelanjutan, Perseroan menyadari bahwa BUMI harus menjadi perusahaan yang adaptif terhadap perubahan serta tahan dari segala tantangan usaha yang terjadi, baik secara internal dan eksternal. Untuk mewujudkan hal itu, Perseroan harus memiliki fondasi kuat yang mampu merekatkan seluruh aspek sehingga dapat bergerak bersama-sama menuju satu arah dan tujuan yang serupa, yaitu visi Perseroan.

Untuk itu, kami memahami bahwa pelaksanaan praktik GCG memiliki peran yang sangat esensial dalam menentukan kejelasan fungsi setiap organ Perseroan, agar setiap organ Perseroan dapat menjalankan tugas dan perannya dengan optimal. Perseroan memastikan bahwa praktik GCG BUMI senantiasa memenuhi peraturan perundang-undangan yang berlaku.

Kami melakukan penilaian secara rutin terhadap komite-komite yang berada di bawah Direksi, yaitu Komite Pedoman Perilaku, Komite Sumber Daya Manusia, Komite Pengarah Teknologi Informasi. Selain itu, kami juga menilai bahwa Sekretaris Perusahaan dan Unit Audit Internal telah menjalankan peran dan melaksanakan tugasnya dengan optimal dalam mendukung pelaksanaan tugas dan tanggung jawab Direksi.

Sepanjang 2019, Perseroan telah melakukan berbagai program GCG secara strategis,

Documents

STAYING OPTIMISTIC AND FOCUSED · STAYING OPTIMISTIC AND FOCUSED. Ikhtisar Utama Performance Highlights Laporan Manajemen Management Reports Profil Perusahaan Company Profile Pendukung