ANNUAL REPORT ICON 2015 - PURWARUPA

23
BALI Jl. Raya Petitenget No. 469 Seminyak, Kuta, Bali 80361 Indonesia P. +62 361 4736656 F. +62 361 4736638 E. [email protected] JAKARTA Perkantoran Permata Senayan B10-11 Jl. Tentara Pelajar, Jakarta 12210 Indonesia P. +62 21 57944305 F. +62 21 57944306 2015 Annual Report Laporan Tahunan 2015 | 2015 Annual Report

Transcript of ANNUAL REPORT ICON 2015 - PURWARUPA

Page 1: ANNUAL REPORT ICON 2015 - PURWARUPA

BALIJl. Raya Petitenget No. 469Seminyak, Kuta, Bali 80361IndonesiaP. +62 361 4736656F. +62 361 4736638E. [email protected]

JAKARTAPerkantoran Permata Senayan B10-11Jl. Tentara Pelajar, Jakarta 12210IndonesiaP. +62 21 57944305F. +62 21 57944306

2015 Annual Report

Laporan Tahunan 2015 | 2015 Annual Report

Page 2: ANNUAL REPORT ICON 2015 - PURWARUPA

Daftar isiTable of Contents

223

446

888

101111121416161718192020

21

2324252627293030

31333636363637384040414141

414242

4344

Data Penting Perseroan | Company Highlights• Ikhtisar Keuangan | Financial Summary• Ikhtisar Saham | Shares Summary

Laporan Manajemen | Management Report• Laporan Dewan Komisaris | Board of Commissioner Report• Laporan Direksi | Board of Director Report

Profil Perusahaan | Company Profile• Data Perusahaan | Company Information• Riwayat Singkat Perusahaan | Company Milestones• Peristiwa Penting 2015 | 2015 Event Highlights• Struktur Organisasi | Organization Structure• Visi - Misi | Vision - Mission• Dewan Komisaris | Board of Commissioner• Direksi | Board of Director• Sumber Daya Manusia | Human Resources• Pemegang Saham | Shareholders• Anak Perusahaan | Subsidiaries - PT Patra Supplies and Services - PT Bhumi Lestari Makmur• Pencatatan Saham di Bursa | Official Listing on Stock Exchange• Lembaga & Profesi Penunjang Pasar Modal | Capital Market Supporting Institution

& Professional• Penghargaan & Sertifikasi | Awards & Certifications

Analisis dan Pembahasan Manajemen | Management Analysis and Discussion• Tinjauan Ekonomi Global | Overview of Global Economy• Tinjauan Ekonomi Indonesia | Overview of Indonesia Economy• Tinjauan Operasi | Overview of Operations• Analisis Kinerja Keuangan | Financial Performance Analysis• Strategi Bisnis | Business Strategy• Kebijakan Dividen | Dividend Policy• Realisasi Penggunaan Dana Hasil Penawaran Umum | Realization of the use of

Proceeds from Registered Public Offering

Tata Kelola Perusahaan | Corporate Governance• Roadmap GCG | GCG Roadmap• Penerapan GCG | Implementation of GCG• Struktur Tata Kelola Perusahaan | Corporate Governance Structure - RUPS | General Meeting of Shareholders (GMS) - Dewan Komisaris | Board of Commissioner - Direksi | Board of Director - Komite Audit | Audit Committee - Komite Nominasi & Remunerasi | Remuneration & Nomination Committee - Sekretaris Perusahaan | Corporate Secretary - Unit Audit Internal | Internal Audit Unit - Perkara Penting | Important Matters - Sistem Pengendalian Internal & Manajemen Risiko | Internal Control & Risk

Management - Kode Etik & Budaya Perusahaan | The Code of Ethics & Corporate Culture - Akuntan Publik | Public Accounting - Tanggung Jawab Sosial Perusahaan | Corporate Social Responsibility

Pernyataan Dewan Komisaris dan DireksiLaporan Keuangan Konsolidasi Tahun 2014

Page 3: ANNUAL REPORT ICON 2015 - PURWARUPA

Data Penting Perseroan | Company Highlights 32

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Data Penting Perseroan | Company Highlights

Company HighlightsData Penting Perseroan

Ikhtisar Keuangan | Financial Summary

KETERANGAN

2015(Rp)

Pendapatan Usaha

Beban Pokok Pendapatan

Laba Kotor

Laba Usaha

Laba Sebelum Pajak

Laba Tahun Berjalan

Laba Komprehensif Tahun

Berjalan

Laba Yang Dapat

Diatribusikan Kepada:

• Pemilik Entitas Induk

• Kepentingan

Non-Pengendali

Laba Komprehensif Neto

Yang Dapat Diatribusikan

Kepada:

• Pemilik Entitas Induk

• Kepentingan

Non-Pengendali

Laba Per Saham

Total Aset

Total Liabilitas

Total Ekuitas

Operating Revenue

Cost of revenue

Gross Profit

Operating Income

Profit Before Tax

Profit for the Year

Comprehensive Profit for the Year

Attributable Profit to:

• Controlling Shareholder• Non-Controlling Shareholder

Attributable Comprehensive Net Profit:

• Controlling Shareholder• Non-Controlling

Shareholder

Earnings Per Share

Total Assets

Total Liabilities

Total Equity

172.370.034.296

(139.082.322.115)

33.287.712.181

(1.135.921.970)

8.593.138.509

3.915.155.783

6.670.968.803

(1.152.263.389)

5.067.419.172

253.305.206

6.417.663.597

0,23

372.516.513.965

41.672.432.106

414.188.946.071

170.684.608.164

(138.994.559.524)

31.690.048.640

5.235.400.693

7.606.530.476

5.385.331.532

5.351.249.167

1.189.061.812

4.196.269.721

1.238.694.319

4.112.554.848

1,14

277.005.824.660

123.749.640.977

153.256.183.683

83.048.276.150

(64.623.811.816)

18.424.464.334

1.846.007.277

4.225.002.240

3.677.081.913

3.019.645.681

1.170.204.101

2.506.877.812

926.537.001

2.093.108.680

1,27

73.912.750.950

51.504.214.860

22.408.539.090

2014 2013 (IDR)

KONSOLIDASI | CONSOLIDATED DESCRIPTION

Laba terhadap Pendapatan

Laba Kotor terhadap Pendapatan

Laba Usaha terhadap Pendapatan

Laba terhadap Aset

Laba terhadap Ekuitas

Rasio Lancar

Liabilitas terhadap Ekuitas

Liabilitas terhadap Jumlah Aset

Net Profit Margin

Gross Profit Margin

Operating Profit Margin

Return On Assets

Return On Equity

Quick Ratio

Debt to Equity Ratio

Debt to Assets Ratio

3,9%

19,3%

-0,7%

1,6%

4,2%

1,5x

1,6x

0,6x

3,1%

18,6%

3,1%

1,9%

3,5%

1,9x

0,8x

0,4x

3,6%

22,2%

2,2%

4,1%

13,5%

1,2x

2,3x

0,7x

RASIO KEUANGAN 2015 2014 2013 FINANCIAL RATIO

Ikhtisar Saham | Shares Summary

PeriodePeriod

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1.089.750.000

1.089.750.000

1.089.750.000

1.089.750.000

272.437.500.000

434.810.250.000

434.810.250.000

488.208.000.000

6.787.500

113.277.200

32.546.000

368.300

440

460

439

500

250

250

398

399

250

439

399

448

1.089.750.000

1.089.750.000

1.089.750.000

1.089.750.000

488.208.000.000

539.426.250.000

521.990.250.000

659.298.750.000

300

53.200

200

309.900

450

495

479

605

448

440

479

479

448

495

479

605

2014

2015

JumlahSaham

Total Shares

KapitalisasiPasar

Market Capitalization

HargaTertinggi

Highest Price

HargaTerendah

Lowest Price

HargaPenutupan

Closing Price

VolumePerdagangan

Trading Volume

Laba Tahun Berjalan | Profit for the Year

Total Ekuitas | Total Equity

Pendapatan Usaha | Operating Revenue Laba Kotor | Gross Profit

Total Aset | Total Assets Total Liabilitas | Total Liabilities

Page 4: ANNUAL REPORT ICON 2015 - PURWARUPA

Laporan Dewan Komisaris | Board of Commissioner Report 54

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Laporan Dewan Komisaris | Board of Commissioner Report

Board of Commissioner ReportLaporan Dewan Komisaris

Yang terhormat para Pemegang Saham Perseroan, Dengan mengucapkan puji syukur, kami menyampaikan bahwa pada tahun 2015 Perseroan berhasil mencetak laba komprehensif netto sebesar Rp.6,67 milyar, atau naik sekitar 25% dibanding periode sebelumnya. Prestasi yang baik ini dicapai walaupun Pendapatan Usaha Perseroan hanya meningkat tipis 1% menjadi Rp.172,37 milyar. Aset Perseroan meningkat hampir 50% menjadi Rp.414,19 milyar. Dengan demikian secara keseluruhan pencapaian Perseroan tahun ini mengalami peningkatan yang relatif baik, apalagi peningkatan kinerja ini membuktikan bahwa Perseroan selama empat tahun terakhir ini selalu mencetak keuntungan. Pada tahun 2015 pertumbuhan Ekonomi Indonesia sesungguhnya tidak terlalu menggembirakan dimana hanya mencapai kisaran dibawah 5%. Hal ini berkaitan erat dengan positioning pemerintahan baru Jokowi-JK ditengah situasi pertumbuhan ekonomi global yang masih belum merata dan penguatan US Dollar terhadap mata uang dunia umumnya serta pelemahan harga komoditas. Jika dilihat dari sisi ini, maka tentunya kinerja yang dicapai Perseroan merupakan prestasi yang membanggakan. Dewan Komisaris menyampaikan apresasi atas pencapaian prestasi ini kepada jajaran Direksi dan seluruh staf, sekaligus menyampaikan kritik membangun kepada Direksi agar senantiasa menjalankan usaha dengan berpijak pada aturan yang ada, strategi yang tepat serta tingkat kehati-hatian yang tinggi, agar Perseroan selalu dapat memberikan dividen kepada Pemegang Saham. Secara khusus, Dewan Komisaris menyampaikan agar Komite Audit dapat lebih aktif dalam memberikan masukan kepada Dewan Komisaris atas pelaksanaan audit ekternal dan manajemen resiko dari kegiatan usaha Perseroan. Dewan Komisaris senantiasa berkomitmen untuk menerapkan tata kelola perusahaan yang amanah (Good Corporate Governance), sesuai dengan standar internasional. Kami menilai bahwa Direksi telah melaksanakan tugas dan tanggung jawabnya dengan baik selama tahun 2015.

Dear Shareholders of the Company, By saying grace, we convey that in 2015 the Company managed to score a net comprehensive profit amounted IDR6.67 billion, or an increase of approximately 25% over the previous period. This good performance was achieved despite the Company's Operating Revenues increased by only a thin 1% to IDR172.37 billion. The Company's assets increased by almost 50% to IDR414.19 billion. Thus the overall achievement of the Company this year has increased relatively good, especially the increase in the performance of this proves that the Company over the past four years have always made a profit.

In 2015, the growth of Indonesia's economy was not so encouraging which only reaches the range below 5%. It is closely related to the positioning of the new government Jokowi-JK situation amid the global economic growth is still uneven and the strengthening US dollar against major world currencies in general as well as weakening commodity prices. When viewed from this side, then surely the Company's performance achieved a proud achievement.

BOC expressed appreciation on these achievements to the Board of Directors and the entire staff, and expressed constructive criticism to the Board of Directors to continue to conduct business with a foothold on the existing rules, the right strategy and the level of prudence is high, so that the Company can always provide dividends to Shareholders. Specifically, the Board asked that the Audit Committee be more active in providing input to the Board on the implementation of the external audit and risk management of the Company's business activities.

BOC is always committed to implement the mandate of corporate governance (GCG), in accordance with international standards. We assess that the Board of Directors has duties and responsibilities well during 2015.

Kami Dewan Komisaris menyampaikan terima kasih kepada para Pemegang Saham, Direksi, Komite Audit, dan para stakeholder lainnya serta kepada seluruh staf dan karyawan pada tahun 2015 yang lalu, karena atas dedikasi dan komitmen merekalah, Perseroan dapat terus tumbuh dan berkembang. Dewan akan terus memberikan dukungan kepada Direksi untuk meningkatkan kinerja perusahaan dan memperluas basis bisnis pada tahun 2016 dan tahun-tahun mendatang, sepanjang pertumbuhan Perseroan terjaga dan dengan resiko bisnis serendah mungkin.

Our Board of Commissioners would like to thank the Shareholders, the Board of Directors, Audit Committee, and other stakeholders as well as to all the staff and employees in 2015 ago, because they for their dedication and commitment, the Company can continue to grow and develop. Continuously Council will provide support to the Board of Directors to increase the performance of the company and expand its business base in 2016 and the years to come, along with the growth of the Company's awake and business risk as low as possible.

Denpasar, 25 April 2016

Presiden Komisaris | Chairwoman

Atas nama Dewan Komisaris

Prof. Dr. Ir. A. Sulistyawaty, M.S., M.M., M.Mis., D.Th.

Page 5: ANNUAL REPORT ICON 2015 - PURWARUPA

Laporan Direksi | Board Of Director Report 76

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Laporan Direksi | Board Of Director Report

Board of Director ReportLaporan Direksi

Pemegang Saham, Dewan Komisaris dan Pemangku Kepentingan lainnya yang kami hormati,

Dengan mengucapkan syukur alhamdullilah, kami melaporkan bahwa ditengah gejolak ekonomi global dan nasional, Perseroan pada tahun 2015 kembali mencatatkan keuntungan komprehensif konsolidasian untuk keempat kalinya secara secara berturut-turut sejak 2012. Pada tahun 2015 ini, Perseroan mencatatkan laba komprehensif netto sebesar Rp6,67 milyar dibanding Rp5,35 milyar pada tahun sebelumnya, atau naik sebesar 24,6%. Perseroan juga mencatatkan kenaikan pendapatan usaha, walaupun naik tipis, sebesar Rp172,37 milyar dibanding tahun sebelumnya yang tercatat sebesar Rp170,68 milyar atau naik sekitar 1%. Dari sisi Posisi Keuangan Konsolidasian, jumlah asset Perseroan meningkat tajam dari Rp277,0 milyar di tahun 2014, menjadi Rp414,19 milyar di tahun 2015, atau naik hampir 50%. Seiring dengan peningkatan laba komprehensif, ekuitas Perseroan juga meningkat tipis 3,5% menjadi Rp158,67 milyar di tahun 2015, dari sebelumnya yang mencatat Rp153,26 milyar.

Pendapatan terbesar Perseroan sebesar 96,7% atau Rp166,69 milyar masih bersumber dari kontribusi anak perusahaan Perseroan, yaitu Patra Supplies & Services (PSS). Kemudian sebesar Rp5,68 milyar atau 3,2% dikontribusikan dari jasa akomodasi vila dan pendapatan sewa resto & lounge di Seminyak, Bali. Pada tahun 2015 ini, walaupun anak usaha Bhumi Lestari Makmur (BLM) telah cukup banyak menjual unit vila dan kondotel, namun penjualan tersebut belum dapat dibukukan sebagai Pendapatan dikarenakan belum adanya serah-terima dengan pelanggan. Pada tahun mendatang, Perseroan berkomitmen agar terjadi serah-terima dengan pelanggan, sehingga kontribusi pendapatan diantara kedua anak usaha Perseroan dapat lebih berimbang. Dalam kaitan tersebut, Perseroan melalui entitas anak BLM telah memberikan uang jaminan sehubungan dengan rencana pembelian asset produktif yang berlokasi di prime area kawasan Jimbaran.

Perkembangan ekonomi global sepanjang tahun 2015 diwarnai oleh pelemahan pertumbuhan baik di kelompok negara maju maupun di kelompok negara berkembang. Di dalam negeri, perekonomian nasional menghadapi tantangan dan ujian yang berat. Tekanan terhadap stabilitas ekonomi nasional yang muncul di tahun antara lain penurunan harga komoditas dunia, devaluasi Renmibi, dan penurunan arus modal asing ke negara berkembang termasuk Indonesia akibat penguatan suku bunga di Amerika Serikat yang mengakibatkan depresiasi nilai tukar Rupiah terhadap Dollar AS. Secara kumulatif, semua tekanan tersebut mendorong pertumbuhan ekonomi terkoreksi cukup dalam di bawah 5%. Direksi bersyukur bahwa pelemahan ekonomi global dan nasional, tidak terlalu memberikan dampak yang signifikan terhadap pertumbuhan pendapatan Perseroan. Direksi juga berpendapat bahwa kerja keras dan komitmen kebersamaan serta ketulusan kerja dari seluruh staf

Shareholders, Board of Commissioners and other Stakeholders that we respect,

By giving thanks Thank God, we reported that amid the global economic turmoil and national, the Company's 2015 consolidated comprehensive profit relisted their fourth in a row since 2012. In 2015, the Company recorded a net comprehensive profit amounted IDR6.67 billion compared IDR5.35 billion a year earlier, an increase of 24.6%. The company also posted higher revenue, despite a slight increase, amounting IDR172.37 billion over the previous year which stood at IDR170.68 billion, up about 1%. In terms of the Consolidated Financial Position, the amount of assets of the Company increased sharply from IDR277.0 billion in 2014, became IDR414.19 billion in 2015, up nearly 50%. Along with the increase in comprehensive income, shareholders' equity also increased slightly by 3.5% to IDR158.67 billion in 2015, from the previously noted IDR153.26 billion.

The Company's revenues amounted to 96.7% or IDR166.69 billion was sourced from the contribution of the Company's subsidiaries, namely Patra Supplies & Services (PSS). Then at IDR5.68 billion or 3.2% was contributed from the villa accommodation services and rental income resto & lounge in Seminyak, Bali. In 2015, despite a subsidiary of Bhumi Lestari Makmur (BLM) has pretty much sold villas and condotel, but such sales can not be recorded as revenue due to the lack handover to the customer. In the coming year, the Company is committed to enable the handover to the customer, so that the contribution of income among the two subsidiaries of the Company can be more impartial. In this regard, the Company, through its subsidiaries BLM has given bail in connection with the planned purchase of productive assets are located in the prime area of the Jimbaran area.

The development of the global economy throughout 2015 was colored by the weakening of growth in both groups developed countries and in the developing countries. In the country, the national economy and the challenges facing a severe test. Pressure on national economic stability emerged in the year include a decline in world commodity prices, devaluation Renmibi, and a decrease in foreign capital flows to developing countries, including Indonesia due to the strengthening of interest rates in the United Ameika resulting depreciation of the rupiah against the US dollar. Cumulatively, all these pressures encourage economic growth slid deep enough below 5%. Directors are grateful that the global and national economic downturn, does not really give a significant impact on the growth of the Company's revenues. The Board of Directors also believes that hard work and commitment to work together as well as the sincerity of the entire staff of the Company, and the

Perseroan, dan penerapan strategi yang tepat, memberikan andil yang sangat besar bagi prestasi Perseroan di tahun 2015.

Tantangan kedepan bagi Perseroan relatif besar. Pertumbuhan ekonomi global dan nasional pada 2016 mendatang diproyeksikan masih stagnan atau tumbuh tipis. Di dalam negeri, pertumbuhan ekonomi diproyeksikan masih berkisar di angka 5%. Namun dengan banyaknya liberasi peraturan investasi serta gencarnya pembangunan infrastruktur, maka pertumbuhan ekonomi diperkirakan akan semakin solid. Tentu saja selalu ada resiko dalam setiap pembangunan ekonomi, dimana resiko utama dalam hal ini adalah defisit anggaran pembiayaan dan pelemahan nilai rupiah. Untuk mengantisipasi hal tersebut, maka Perseroan akan selalu berusaha untuk menerapkan strategi yang tepat guna dalam mempertahankan kinerja Perseroan, antara lain dengan tetap efisien, mempercepat sisa pembangunan kondotel dan vila yang telah dipesan dan mempercepat serah-terima. Selanjutnya, mempercepat penyelesaian pembangunan Beach Club, dan melalui entitas anak BLM, menuntaskan rencana pembelian asset produktif di Jimbaran agar dapat segera memberikan sumbangan bagi Perseroan.

Dari sisi tata kelola perusahaan, Perseroan terus berkomitmen untuk meningkatkan kompetensi Direksi dan seluruh staf melalui pelatihan serta penerapan Pedoman dan Tata Tertib Kerja Dewan Komisaris dan Direksi dan Pedoman Perilaku dalam setiap aspek bisnis.

Kami Direksi Perseroan mengharapkan selalu dukungan dari Pemegang Saham dan Dewan Komisaris serta seluruh pemangku kepentingan lainnya agar rencana ekspansi Perseroan di tahun-tahun mendatang dapat berjalan dengan baik, sehingga Perseroan tetap dapat mencetak keuntungan dan memberikan manfaat optimal bagi pemegang saham, perusahaan dan kesejahteraan karyawan.

implementation of appropriate strategies, contributed greatly to the achievement of the Company in 2015.

The challenge ahead for the Company is relatively large. Global and national economic growth in 2016 is projected to remain stagnant or grow thin. Domestically, economic growth is projected still amounts to 5%. But with so many liberation investment regulations as well as vigorous infrastructure development, economic growth is expected to be more solid. Of course there is always a risk in any economic development, where the main risk in this case is the financing of the budget deficit and the weakening of the rupiah. To anticipate this, the Company will always strive to apply the right strategy in order to maintain the performance of the Company, among others, remain efficient, speeding up the rest of Condotel development and villas that have been ordered and accelerate the handover. Furthermore, accelerating the completion of the construction of Beach Club, and through its subsidiaries BLM, completing the planned purchase of productive assets in Jimbaran to immediately contribute to the Company.

In terms of corporate governance, the Company is committed to improving the competence of the Board of Directors and the entire staff through training and implementation of the Guidelines and Rules of Conduct Working Board of Commissioners and Board of Directors and the Code of Conduct in every aspect of business.

Our Board of Directors expects always the support of shareholders and the Board of Commissioners as well as all other stakeholders in order to plan the expansion of the Company in the coming years to run well, so that the Company can still make a profit and provide optimal benefits to shareholders, the company and employee.

Jakarta, 25 April 2016

Presiden Direktur | President DirectorDodi Prawira Amtar

Atas nama Direksi

Page 6: ANNUAL REPORT ICON 2015 - PURWARUPA

Profil Perusahaan | Company Profile 98

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Profil Perusahaan | Company Profile

Company ProfileProfil Perusahaan

Data Perusahaan | Company Information

Riwayat Singkat Perusahaan | Company Milestones

Nama PerusahaanCompany Name

Tanggal PendirianDate Established

Dasar HukumLegal Basis

Modal DasarAuthorized Capital

Modal Ditempatkan & DisetorPaid-in Capital

AlamatAddress

PT ISLAND CONCEPTS INDONESIA Tbk

11 Juli 2001

Akta Pendirian No. 3 tanggal 11 Juli 2001 dibuat oleh Evi Susanti Panjaitan, SH., Notaris di Tabanan, BaliDeed of Establishment Number 3 dated July 11th, 2001 prepared and presented before Evi Susanti Panjaitan, SH., Notary in Tabanan, Bali

Rp 154.343.750.000,-

Rp 61.162.218.750,-

Kantor Pusat | Head OfficeJl. Raya Petitenget No. 469Kerobokan, Seminyak, Bali 80361Phone : (+62) 361 4736 656Fax : (+62) 361 4736 658Email : [email protected] : www.islandconcepts.com

Kantor Korespondensi | Correspondence OfficePermata Senayan B10-11, Jl. Tentara PelajarKebayoran Baru, Jakarta 12210Phone : (+62) 21 5794 4305Fax : (+62) 21 5794 4306

2007Perseroan terdaftar pada Bursa Efek Indonesia, sebagai dampak peleburan Bursa Efek Surabaya dan Bursa Efek Jakarta.

2008Perseroan melaksanakan Pemecahan Nilai Nominal Saham yang semula Rp 112,25 per saham menjadi Rp 56,125 per saham sehingga jumlah saham yang diterbitkan semula 125.000.000 saham menjadi 250.000.000 saham.

2011Perseroan mendapatkan pernyataan efektif di bulan Juli untuk penggabungan usaha dengan PT Gama Wahyu Abadi sehingga Perseroan menjadi pemegang saham & pengendali atas 50% kepemilikan di PT Patra Supplies & Services.

2013Perseroan mendapatkan pernyataan efektif di bulan Desember untuk melaksanakan Penawaran Umum Terbatas I (PUT I) berupa penambahan modal dengan HMETD.

2014Perseroan berhasil melaksanakan PUT I dengan dana yang diperoleh sebesar Rp 108,975 milyar, dimana sebagian dana PUT I dipergunakan untuk mengakuisisi 75% saham PT Bhumi Lestari Makmur.

Listed on Indonesian Stock Exchange, as a result of the merger between Surabaya and Jakarta Stock Exchange.

Conducted Stock Split from IDR 112.25 per share to IDR 56.125 per share, bring the total number of shares issued from original stock 125,000,000 to 250,000,000 shares.

Obtained an affective statement in July to the merger with PT Gama Wahyu Abadi so that the Company became the controlling share-holder of 50% ownership in PT Patra Supplies & Services.

Obtained an effective statement in December to perform the Right Issue I (RI I) in the form of capital increase with pre-emptive rights.

Successfully implement RI I with funds obtained IDR 108.975 billion, of which some of the funds used to acquire a 75% stake in PT Bhumi Lestari Makmur.

2001Pendirian Perseroan

2003Perseroan mengembangkan usaha dalam pembangunan, penjualan dan penyewaan properti, yang dimulai dengan pembangunan 10 unit vila di Seminyak, Bali.

2005Perseroan terdaftar pada Bursa Efek Surabaya.

Company establishment.

Expanded the business in property development & agency, start with developed 10 unit villas in Seminyak, Bali.

Listed on Surabaya Stock Exchange.

Page 7: ANNUAL REPORT ICON 2015 - PURWARUPA

Dodi Prawira AmtarPresident Director

Yusea Eka Prasetya, ST. Secretary

Edi Timbul Hardiyanto, MSc., MBA.

Investment Director

Putu Agung Prianta, BEng., MA.

Business Development & Finance Director

Graham James Bristow

Operational Director

Marketing & Sales

HR & Operational

Business Development

Finance & Accounting

Prof. Dr. Ir. A. Sulistyawati, MS., MM., MMis., DTh. - President CommissionerRifwaldi Rivai M. Noer, SH., MM. - Independent Commissioner

Igor Manindjo, MComm. - Commissioner

Dewan Komisaris | Board of Commissioner

Profil Perusahaan | Company Profile 1110

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Profil Perusahaan | Company Profile

Struktur Organisasi | Organization Structure

Visi - Misi | Vision - Mission

VisiMenjadi perusahaan Property Development, Jasa Akmodasi dan Jasa Katering yang terkemuka di Indonesia, yang memberikan manfaat optimal bagi para pemangku kepentingan.

Misi• Menyediakan produk-produk properti kelas atas di Pulau Bali

khususnya dan Indonesia pada umumnya.• Menyediakan jasa akomodasi dengan standar Internasional di

Pulau Bali khususnya dan Indonesia pada umumnya.• Menyediakan jasa katering bagi perusahaan minyak, gas dan

tambang yang beroperasi di daerah sulit dijangkau, baik di darat maupun laut (on/off shore).

• Senantiasa berperan aktif dalam pembangunan ekonomi nasional, dengan tetap menjaga budaya dan lingkungan dimana perusahaan beroperasi.

VisionTo become the foremost company in Property Development, Accom-modation Services, and Catering Services in Indonesia, that gives optimal benefit to its stakeholders.

Mission• To provide upscale property products on the island of Bali in

particular and Indonesia in general.• To provide accommodation services at an international standard

on the island of Bali in particular and Indonesia in general.• To provide catering services for oil, gas and mining companies

operating in remote areas, both on land and sea (on / off shore).

• To always play an active role in national economic development, while maintaining the culture and environment where the company operates.

Peristiwa Penting 2015 | 2015 Event Highlights

FEBRUARIPSS mendapatkan kontrak baru untuk cleaning services dengan SKK Migas.

MARETPenyelesaian pembangunan show unit villa sejumlah 4 unit yang terdiri dari 3 unit tipe 1 bedroom dan 1 unit tipe 2 bedroom dan memulai pekerjaan struktur untuk condotel.

AGUSTUSBLM mulai pembangunan unit villa sebanyak total 75 unit yang terdiri dari 24 unit tipe 1 bedroom, 34 unit tipe 2 bedroom, 8 unit tipe 3 bedroom dan 9 unit tipe 4 bedroom.

PSS mendapatkan kontrak baru untuk cleaning services dengan PT Timah dan untuk katering dengan SKK Migas.

SEPTEMBERPembangunan condotel BLM mulai memasuki tahap pekerjaan konstruksi arsitektur & pemipaan (plumbing).

OKTOBERPerpanjangan kontrak PSS untuk manajemen fasilitas dengan HMS.

NOVEMBERPembangunan condotel dilanjutkan dengan memasuki tahap pekerjaan mekanikal dan elektrikal.

Perpanjangan kontrak PSS untuk katering dengan Terras Offshore.Bulan ini PSS juga mengadakan pelatihan implementasi Sage 3000 yang merupakan integrasi sistem operasional, procurement hingga laporan keuangan, secara serentak untuk seluruh karyawan, baik pusat, cabang maupun lokasi.

FEBRUARYPSS awarded a new contract for cleaning services at SKK Migas.

MARCHCompletion of construction of the villa show unit number 4 unit consisting of 3 units of type 1 bedroom and 1 unit of type 2 bedroom and began work structure for condotel.

AUGUSTBLM began the construction of villas total of 75 units consisting of 24 units of type 1 bedroom, 34 two bedroom type units, 8 units of type 3 bedroom and 4 bedroom 9 unit types.

PSS awarded a new contract for cleaning services with PT Timah and for catering to SKK Migas.

SEPTEMBERBLM condotel development began to enter the stage of construction works of architecture and piping (plumbing).

OCTOBERPSS's contract extension with the HMS facility management.

NOVEMBERCondotel development continued with entering the stage of mechanical and electrical work.

PSS for the catering contract extension with Terras Offshore.This month PSS also offered training in the implementation of Sage 3000 which is the operational system integration, procurement up to the financial statements, simultaneously for all employees, both centers, branches and locations.

Page 8: ANNUAL REPORT ICON 2015 - PURWARUPA

Profil Perusahaan | Company Profile 1312 Profil Perusahaan | Company Profile

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Hubungan Afiliasi | Affiliate Relation : • Prof. Dr. Ir. A. Sulistyawati, MSc. - Chairwoman Dr. Ir. Frans Bambang Siswanto, MM. - Shareholder Putu Agung Prianta, BEng., MA. - Director

• Igor Manindjo - Commissioner PT ASABRI (Persero) - Shareholder Edi Timbul Hardiyanto - Director

Warga Negara Indonesia, 69 tahun. Beliau meraih gelar Sarjana di bidang Arsitektur dari Universitas Udayana dan Institut Teknologi Surabaya pada tahun 1980, lulus dengan gelar Master di bidang Ilmu Iingkungan dan Ekologi Manusia dari Universitas Indonesia pada tahun 1989, lulus dengan gelar Doktor di bidang Arsitektur dari School of Architecture, Oxford Brookes - United Kingdom pada tahun 1995, lulus dengan gelar Magister di bidang Ilmu Manajemen dari Sekolah Tinggi IImu Ekonomi Widya Jayakarta pada tahun 2000, lulus dengan gelar Magister di bidang ilmu Agama Kristen dari Sekolah Tinggi Theologia Injili Indonesia pada tahun 2010, serta saat ini menjadi Guru Besar di Universitas Udayana.

Indonesian citizen, 69 years old. She earned a Bachelor's degree in Architecture from the University of Udayana and Surabaya Institute of Technology in 1980, graduated with a Master's degree in Environment Science and Human Ecology from the University of Indonesia in 1989, graduating with a PhD in Architecture from the School of Architecture, Oxford Brookes - United Kingdom in 1995, graduated with a Master's degree in Management Sciences from the College of Economics Widya IImu Jayakarta in 2000, graduated with a Master's degree in the field of Science of Christianity of The Evangelical Theological Seminary of Indonesia in 2010, and is currently a Professor at the University of Udayana.

1971 – sekarang / present : Dosen Jurusan Arsitektur / Lecturer of Architecture Department, Udayana University

1978 – 2011 : Konsultan Desain Arsitektur dan Lingkungan / Architecture and Environmental Design Consultant, PT Binacipta Adibuana

2011 – 2013 : Komisaris Perseroan / Commissioner of the Company

2013 – sekarang / present : Presiden Komisaris Perseroan / President Commissioner of the Company

Prof. Dr. Ir. A. Sulistyawaty, M.S., M.M., M.Mis., D.Th.Presiden Komisaris | Chairwoman

Warga Negara Indonesia, 54 tahun. Beliau meraih gelar Master of Commerce (Honours), in Management Planning Control Systems, The University of Wollonggong, New South Wales, Australia.

Indonesian citizen, 54 years old. He holds a Master of Commerce (Honours), in Management Planning Control Systems, The University of Wollonggong, New South Wales, Australia.

1984 – 2004 : Akuntan & Auditor Internal Pemerintah / Accountant & Gov. Internal Auditor,

Badan Pengawasan Keuangan dan Pemban-gunan (BPKP)

1995 – sekarang / present : Instruktur Senior / Senior Instructor, Yayasan Pendidikan Internal Audit (YPIA)

2003 – 2004 : Ketua Tim Konsultan / Head of Consultant Team, Konsorsium POLRI – LPEM UI –

Partnership for Governance Reform2004 – 2006 : Anggota Komite Audit / Member of Audit

Committee, Perum Perhutani2008 – sekarang / present : Anggota Komite Audit / Member of Audit

Committee, PT ASABRI (Persero)2010 – sekarang / present : Konsultan Senior / Senior Consultant, PT

Bina Audita Indonesia – YPIA Group

Igor Manindjo, MComm. Komisaris | Commissioner

Dewan Komisaris Board of Commissioner

Warga Negara Indonesia, 50 tahun. Beliau meraih Sarjana Hukum lulusan Fakultas Hukum Universitas Indonesia tahun 1989 dan juga memperoleh gelar Magister Manajemen pada tahun 1998. Beliau juga mempunyai ijin praktek sebagai Advokat dan merupakan anggota Persatuan Advokat Indonesia (PERADI) dan juga memiliki ijin serta terdaftar sebagai Konsultan Hukum Pasar Modal (STTD) di Otoritas Jasa Keuangan (OJK) dan Anggota dari Himpunan Konsultan Hukum Pasar Modal (HKHPM). Beliau juga seorang Kurator dan Pengurus yang terdaftar di Kementerian Hukum dan HAM serta anggota dari Asosiasi Kurator dan Pengurus Indonesia (AKPI).

Indonesian citizen, 50 years old. He earned a Bachelor of Law as a graduate of the Faculty of Law, University of Indonesia in 1989 and also earned a Master of Management degree in 1998. He also has a license to practice as an Advocate and a member of the Indonesian Advocates Association (PERADI) and is also approved and registered as a Capital Market Legal Consultant (STTD) with the Financial Services Authority (FSA) and a Member of the Association of Capital Market Legal Consultants (HKHPM). He is also a curator and administrator who is registered with the Ministry of Justice and Human Rights as well as member of the Association of Indonesian Receivers and Administrators (AKPI).

Rifwaldi Rivai Muhammad Noer, SH., MM. Komisaris Independen | Independent Commissioner

1990 – 2000 : Corporate Lawyer, PT. Bank Duta Tbk.2000 – 2010 : Pendiri / Founder, Kantor Hukum "RICH &

RISJAD Law Firm"2010 – 2013 : Pendiri / Founder, Kantor Hukum "PRISMA &

CO Law Firm"2013 – sekarang / present : Pendiri / Founder, Kantor Hukum "WRP

Lawyers at Work"

2007 – sekarang / present : Anggota Komite Audit / Member of the Audit Committee, PT. Bank Yudha Bhakti

2009 – sekarang / present : Direktur / Director, PT. Prisma Mentari Internasional

2011 – sekarang / present : Komisaris Independen Perseroan / Independent Commissioner of the Company

Page 9: ANNUAL REPORT ICON 2015 - PURWARUPA

Laporan Dewan Komisaris | Board of Commissioner Report 1514 Laporan Dewan Komisaris | Board of Commissioner Report

Warga Negara Indonesia, 53 Tahun. Beliau meraih gelar Master of Science di bidang Keuangan dan Manajemen pada tahun 1993 dari State University of New York (SUNY), Stony Brook, New York USA, serta gelar Sarjana Teknik Elektro dari Fakultas Teknik Universitas Indonesia. Bertindak sebagai Direktur yang mengawasi Keuangan Perseroan.

Indonesian citizen, 53 years old. He holds a Master of Science in Finance and Management in 1993 from the State University of New York (SUNY), Stony Brook, New York, USA, as well as a Bachelor's degree in Electrical Engineering from the Faculty of Engineering, University of Indonesia. Acts as a director overseeing the Company's finances.

1987 – 1988 : Staff Penilai / Appraiser Staff, Unit Pengembangan dan Pembangunan Proyek Listrik Pedesaan pada Departemen Koperasi Republik Indonesia

1988 - 1990 : Asisten Riset / Research Assistant, Lembaga Manajemen Fakultas Ekonomi Universitas Indonesia (LMFE - UI)

1993 : Analis Kredit / Credit Analyst, Bank Bumi Daya Perwakilan New York, Amerika Serikat

1994-1995 : Konsultan / Consultant, Lembaga Manajemen Fakultas Ekonomi Universitas Indonesia (LMFE - UI)

1997 – Sekarang / present : Dosen Program Magister Manajemen / Lecturer Master Management Program, Universitas Sahid – Jakarta

1995 – 2005 : Research Manager, Underwriting & Corporate Finance Manager, Director and President Director, PT. Bapindo Bumi Sekuritas

2006 – 2008 : Senior Advisor, PT Trust Securities2008 – sekarang / present : Presiden Direktur Perseroan / President

Director of the Company2010 – 2014 : Direktur Utama / President Director, PT

Patra Supplies & Services2014 – sekarang / present : Komisaris Utama/ President Commissioner,

PT Patra Supplies & Services

Dodi Prawira AmtarPresiden Direktur | President Director

Warga Negara Australia, 68 tahun. Beliau lulusan Bachelor of Commerce dari Massey University, di New Zealand tahun 1969. Bertindak sebagai Direktur yang menangani operasional Perseroan.

Australian citizen, 68 years old. He is a graduate of Bachelor of Commerce degree from Massey University in New Zealand in 1969. Acts as a Director overseeing the Company's operational.

1966 – 1975 : Operator / Operator, HB Transport Holdings Limited

1975 – 1979 : Machine Operator, Taupo Topdressers, New Zealand

1980 – 1990 : Direktur Operasional / Operations Director, Vector Co. Ltd., New Zealand

1991 – 1996 : Direktur / Director, Omni Group Limited, Australia

1996 – 2002 : Direktur Operasional / Operations Director, Liberty One Ltd., Australia

1998 – sekarang / present : Direktur / Director, Meridan Pacific Investments / Island Regency Group

2002 – sekarang / present : Direktur Perseroan / Director of the Company

Graham James Bristow Direktur | Director

Hubungan Afiliasi | Affiliate Relation : • Putu Agung Prianta, BEng., MA. – Director Dr. Ir. Frans Bambang Siswanto, MM. – Shareholder Prof. Dr. Ir. A. Sulistyawati, MSc. – Chairman

• Graham James Bristow – Director Island Regency Group Limited – Shareholder

• Edi Timbul Hardiyanto – Director PT ASABRI (Persero) – Shareholder Igor Manindjo – Commissioner

Warga Negara Indonesia, 41 tahun. Beliau lulusan Master of Arts di bidang Keuangan Internasional dari University of North London, (London Metropolitan) UK, dan Bachelor of Engineering (Honours) pada bidang Teknik Sipil dari University College of London, UK. Bertindak sebagai Direktur yang menangani pengembangan bisnis Perseroan.

Indonesian citizen, 41 years old. He is a graduate of Master of Arts in International Finance from the University of North London, (London Metropolitan) UK, and a Bachelor of Engineering (Honours) in Civil Engineering from the University College of London, UK. Acts as a Director overseeing the Company's business development.

2001 – sekarang / present : Komisaris / Commissioner, PT Trust Securities2003 – sekarang / present : Direktur / Director, Pulau Mas Group2006 – sekarang / present : Komisaris Utama / Chairman, PT Patra Supplies & Services2010 – sekarang / present : Direktur / Director, PT Jimbaran Hijau2011 – sekarang / present : Direktur Perseroan / Director of the Company

Putu Agung Prianta, BEng., MA. Direktur | Director

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Dewan Direksi Board of Director

Warga Negara Indonesia, 53 Tahun. Beliau meraih gelar Master Degree in Finance Science (M.Sc.) and Master Degree in Business Administration (MBA) in General Business, Drexel University, Philadelphia, PA, USA. Bertindak sebagai Direktur yang menangani investasi Perseroan.

Indonesian citizen, 53 years old. He holds a Master Degree in Finance Science (M.Sc.) and Master Degree in Business Administration (MBA) in General Business, Drexel University, Philadelphia, PA, USA. Acts as a Director overseeing the Company's investment.

1984 – 2000 : Auditor, Badan Pengawasan Keuangan dan Pembangunan (BPKP) 2000 – 2006 : Managing Partner, PT. Valuindo Utama2000 – sekarang / present : Konsultan Independen / Independent Consultant 2006 – sekarang / present : Risk Advisory & Project, PT. RAP2014 – sekarang / present : Direktur Perseroan / Director of the Company

Edi Timbul Hardiyanto, MSc., MBA.Direktur | Director

Page 10: ANNUAL REPORT ICON 2015 - PURWARUPA

Profil Perusahaan | Company Profile 1716

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Profil Perusahaan | Company Profile

Sumber Daya Manusia | Human Resources Anak Perusahaan | Subsidiaries

Pemegang Saham | Shareholders

Kekuatan inti ICON berasal dari kompetensi Sumber Daya Manusia (SDM) di setiap unit usaha, yang senantiasa berkembang. Kemampuan setiap individu harus bersinergi dan sejalan dengan tujuan bisnis, serta sesuai dengan target Perusahaan. Maka itu, ICON menempatkan SDMnya sebagai mitra strategis serta menjadikannya asset yang bernilai tinggi.

Per tanggal 31 Desember 2015 dan 2014, Perusahaan dan Entitas Anak masing-masing mempunyai 65 dan 76 orang karyawan tetap (tidak diaudit).

ICON’s core strength comes from the competence of its Human Resources at all its business units, which are constantly evolving. Each individual’s ability must be in synergy and in line with the Company’s business objectives, and in accordance with its targets. Therefore, ICON places its Human Capital as a strategic partner and valuable asset to the Company

As of December 31, 2015 and 2014, the Company and Subsidiaries respectively have 65 and 76 permanent employees (unaudited).

Jumlah total saham per 31 Desember 2015 | Number of shares as December 31st 20151,089,750,000 shares Kepemilikan saham oleh Dewan Komisaris atau Direksi | Share ownership by Board of Commissioner or DirectorGraham James Bristow: 18.550.300 shares (1,7%) Pemegang saham utama dan pengendali | Major & Controlling shareholderDr. Ir. Frans Bambang Siswanto, MM.

45,3%

34,9%

9,3%5,7% 4,7%

Struktur Kepemilikan Pemegang Saham

Dr. Ir. Frans Bambang Siswanto, MM

PT Anugerah Griya Persada

PT ASABRI ( Persero)

Island Regency Group Limited

Publik (<5%)

45.27% 16.78%

50% 75%

9.33% 5.71%

DR. IR. FRANS BAMBANG SISWANTO, MM

PT ANUGERAH GRIYA PERSADA

ISLAND REGENCY GROUP LIMITEDPT. ASABRI (PERSERO)

PT ISLAND CONCEPT INDONESIA TBKEstablished in 2001. In 2003, expanded the business in property development and agency, start wtih developed 10 unit villas in Seminyak, Bali. Listing on Stock Exchange since 2005. The company’s vision is to become the foremost company in Property Development, Accomodation Services, and Catering Services in Indonesia, that

give optimal benefit to its shareholders.

PT Patra Supllies & Services

Engaged in catering and facility management services. PSS has supported the industry sectors of MIGAS and General Mining since

1976 with catering and related services. As from 2004, PSS expanded its business activities to Facilities Management and

Maintenance. Currently PSS is the major contributor to the revenues of the Company.

PT Bhumi Lestari Makmur

Engaged in the business of property development. The Landbank owned by BLM has a great potential to be developed into residential, commercial and entertainment facilities. With

planned and measured development and management benefits are promised.

Page 11: ANNUAL REPORT ICON 2015 - PURWARUPA

Profil Perusahaan | Company Profile 1918

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Profil Perusahaan | Company Profile

PT Patra Supplies and Services PT Bhumi Lestari Makmur

Kepemilikan 50%, bidang usaha jasa katering dan pengelolaan fasilitas.

PSS, salah satu anak perusahaan ICON, telah mendukung sektor industri MIGAS dan Pertambangan Umum sejak 1976 melalui jasa katering dan jasa terkait lainnya. Mulai 2004 PSS memperluas kegiatan usahanya ke Jasa Manajemen dan Pemeliharaan Fasilitas. Pada saat ini PSS merupakan kontributor terbesar dari pendapatan Perseroan.

Kantor Pusat | Head Office:Cilandak Commercial Estate # 204 WJl. Raya KKO CilandakJakarta Selatan 12560Tel. 62 21 78843534Fax. 62 21 78843514Website : www.patrass.comEmail : [email protected]

50% ownership, line of business is catering and facilities management services.

PT Patra Supplies And Services (PSS), one of the subsidiaries of ICON, has supported the industry sectors of MIGAS and General Mining since 1976 with catering services and related services. As from 2004 PSS expanded its business activities to Facilities Management and Maintenance. Currently PSS is the major contributor to the revenues of the Company.

Kepemilikan 75%, bidang usaha pembangunan properti.

Saat ini asset tanah yang dimilik Anak Perusahaan baru Perseroan, BLM mempunyai potensi yang besar untuk dikembangkan menjadi fasilitas hunian, tempat komersial dan hiburan. Dengan pembangunan dan pengolahan yang terencana dan terukur akan menjanjikan keuntungan yang signifikan.

Kantor Pemasaran | Marketing Office - JakartaJl. Benyamin Suaeb Blok D7Kemayoran, Jakarta 14410Tel. 62 21 654 9999Website : www.springhillgroups.com

Kantor Pemasaran | Marketing Office - BaliJl. Karang Mas SejahteraJimbaran, Bali

75% ownership, line of business is property development.

Currently the land asset owned by new Subsidiary Company, PT Bumi Lestari Makmur has a great potential to be developed into residential, commercial and entertainment facilities. With planned and measured development and management significant benefits are promised.

Page 12: ANNUAL REPORT ICON 2015 - PURWARUPA

Profil Perusahaan | Company Profile 2120

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Profil Perusahaan | Company Profile

• Penawaran Umum Perdana Saham | Initial Public Offering 8 Juli 2005 di Bursa Efek Surabaya dengan total saham yang

dicatatkan 125.000.000.July 8th 2005 at Surabaya Stock Exchange with total share listed 125,000,000.

• Pemecahan Nilai Nominal Saham | Stock Split

Biro Administrasi Efek | Share Administration BureauPT SHARESTAR INDONESIA

Citra Graha Building 7th floorJl. Jend. Gatot Subroto, Kav. 35 – 36

Jakarta

Notaris Publik | Public NotaryYurisa Martanti, SH., MH.

Jl. Matahari I, Blok I-3 No. 43Malaka Asri, Duren Sawit

Jakarta

Akuntan Publik | Public AccountantJimmy Budhi dan RekanIntiland Tower 11th floor

Jl. Jend. Sudirman, Kav. 32Jakarta

10 Desember 2008 di Bursa Efek Indonesia dengan total saham yang dicatatkan 250.000.000.

December 10th 2008 at Indonesia Stock Exchange with total share listed 250,000,000.

• Penggabungan Usaha | Merger 19 Juli 2011 di Bursa Efek Indonesia dengan total saham yang

dicatatkan 726.500.000.July 19th 2011 at Indonesia Stock Exchange with total share listed 726,500,000.

• Penawaran Umum Terbatas I | Right Issue I 11 Desember 2013 di Bursa Efek Indonesia dengan total

saham yang dicatatkan 1.089.750.000.December 11th 2013 at Indonesia Stock Exchange with total share listed 1,089,750,000.

Pencatatan Saham di Bursa | Official Listing on Stock Exchange

Penghargaan dan Sertifikasi | Awards & Certifications

Lembaga dan Profesi Penunjang Pasar Modal | Capital Market Supporting Institution & Professional

Page 13: ANNUAL REPORT ICON 2015 - PURWARUPA

22

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Profil Perusahaan | Company Profile

Management Analysis and DiscussionAnalisis dan Pembahasan Manajemen

Page 14: ANNUAL REPORT ICON 2015 - PURWARUPA

Analisis dan Pembahasan Manajemen | Management Analysis and Discussion 2524 Analisis dan Pembahasan Manajemen | Management Analysis and Discussion

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Berdasarkan data Bank Dunia, tingkat pertumbuhan ekonomi global tahun 2015 sebesar 2,4%, dimana pertumbuhan ekonomi tersebut disokong oleh pemulihan ekonomi di negara-negara maju. Namun laju perekonomian dunia tersebut mengalami perlambatan sebagai dampak dari penurunan laju ekonomi yang terjadi di negara-negara berkembang. Konflik yang terjadi di Timur Tengah masih terus menghantui pelaku pasar sehingga mereka terus menyimpan aset dalam Dollar AS. Para pelaku pasar merasa lebih aman untuk menyimpan aset dalam dollar AS di saat kondisi keuangan dunia yang masih tidak stabil. Hal membuat permintaan terhadap mata uang tersebut meningkat dan berdampak apresiasi nilai tukar Dollar AS. Di sisi lain, kondisi Tiongkok juga terus mengalami penurunan dan berdampak cukup besar terhadap perekonomian dunia tidak terkecuali Indonesia. Tingkat pertumbuhan ekonomi Tiongkok melambat ke level terendah dalam 25 tahun. Pertumbuhan ekonomi China tercatat 6,9% pada 2015. Pada kuartal IV 2015, ekonomi Tiongkok tumbuh 6,8%. Angka pertumbuhan ekonomi itu masih sesuai dengan perkiraan. Indonesia sebagai salah satu negara yang sedang berkembang juga merasakan dampak yang salah satunya yaitu penurunan nilai tukar Rupiah ini terutama didorong oleh risiko dari ketegangan global. Di tengah kondisi depresiasi mata uang di negaranegara yang sedang berkembang, maskapai penerbangan di kawasan Asia-Pasifik masih mengalami pertumbuhan kinerja operasional yang baik. Hal tersebut yang menjadikan kawasan Asia-Pasifik masih menjadi pasar terbesar bagi industri transportasi udara dunia. Hal ini ditunjukkan dengan pertumbuhan jumlah penumpang serta membaiknya kinerja keuangan maskapai penerbangan pada tahun 2015. Maskapai mulai mencatatkan kinerja laba setelah merugi cukup besar pada tahun 2014 di mana saat itu kondisi perekonomian dunia sedang mengalami penurunan

The growth rate of the global economy during 2015 according to the World Bank was 2.4% in line with the economic recovery in developed countries. However, the economic slowdown in developing countries may affect the growth of the world economy. Conflict in the Middle East still continued to haunt the market participants so that they continue to pile up US Dollars. Market clearly feels more secure to save USD-denominated assets in the face of instable global financial conditions. It caused demand for the currency increased and resulted in US Dollars appreciation. Beyond that, China condition also continued to worsen that will provide signifi-cant impact to the world economy and no exception to Indonesia. The decline in the exchange rate was primarily driven by the risk of global tensions. China’s economic growth rate slowed to its lowest level in 25 years. China’s economic growth was recorded at 6.9% in 2015. In the fourth quarter of 2015, China’s economy grew 6.8%. The economic growth rate was in line with the expectation. Indonesia as one of the emerging countries was also impacted, among others, Rupiah depreciation, particularly driven by the risks from global tensions. Despite the depreciation of currencies in emerging countries, the airlines in Asia-Pacific region still register a favorable operational performance. As such, Asia Pacific region remains the largest market for the world air transport industry. This was shown by the growth in the number of passengers and the improving financial performance of the airlines in 2015. These airlines began to record profits after suffering from significant loss in 2014 at the time of global economic slowdown. Each year, 3.3 billion people is travelling by air. Onethird were transported by Asian airlines. Even ten of the world’s busiest international routes were in the Asia- Pacific region. Airlines in the Asia Pacific region continued to experience strong growth in the middle of the increasingly competitive global

yang dalam. Setiap tahun 3,3 miliar orang melakukan perjalanan udara. Sepertiganya diangkut oleh maskapai penerbangan di Asia. Sepuluh rute internasional tersibuk di dunia berada di kawasan Asia-Pasifik. Maskapai penerbangan di kawasan Asia Pasifik terus mengalami pertumbuhan yang kuat di tengah persaingan yang semakin kompetitif industri penerbangan dunia selama 12 bulan terakhir ini. Persaingan antar pelaku industri penerbangan tersebut kian kompetitif dengan semakin beragamnya produk dan layanan jasa yang ditawarkan masing-masing maskapai penerbangan.

aviation industry over the last 12 months. Competition among the airline industry is increasingly competitive with the growing variety of products and services offered by each airline.

Saat target inflasi tahunan tercapai maka kredibilitas kebijakan moneter yang lebih besar akan mengikutinya. Tingkat inflasi yang tidak stabil tersebut terutama disebabkan oleh penyesuaian harga bahan bakar bersubsidi, yang diprediksi akan menimbulkan deviasi antara target awal dan realisasi inflasi ke depan.

was unstable mainly due to the subsidized fuel price adjustment, we predict that there will be fewer deviations between the original target and actual inflation.

Tinjauan Ekonomi Global | Overview of Global Economy

Perekonomian Indonesia pada tahun 2015 mengalami pertumbuhan sebesar 4,8%, melambat dibandingkan 2014 sebesar 5,0%. Pertumbuhan ekonomi tersebut dipangaruhi oleh beberapa aspek usaha seperti administrasi pemerintahan, pertahanan, jaminan sosial wajib serta informasi dan Komunikasi. Pertumbuhan ekonomi ini tergolong cukup tinggi karena disokong oleh anggaran dari pemerintah yang meningkat. Sektor pertanian menyumbang pelemahan pertumbuhan ekonomi Indonesia yang disebabkan fenomena el nino, di mana membawa dampak signifikan terhadap keberhasilan di sektor pertanian di tanah air. Pada tahun 2015, tingkat inflasi Indonesia mencapai 3,4% (yoy). Angka ini mengalami penurunan yang cukup besar jika dibandingkan dengan tingkat inflasi tahun 2014 yaitu 8,4%. Angka tersebut di bawah ekspektasi Bank Indonesia yang memprediksi inflasi tahun ini sebesar 4%. Karakteristik tingkat inflasi yang tidak stabil di Indonesia menyebabkan deviasi yang lebih besar dibandingkan proyeksi inflasi tahunan oleh Bank Indonesia. Akibat dari ketidakjelasan inflasi ini adalah terciptanya biaya-biaya ekonomi, seperti tingkat bunga pinjaman yang cukup tinggi dibandingkan dengan negara-negara berkembang lainnya.

Indonesia’s economy in 2015 grew by 4.8%, slower than in 2014 which was 5.0%. On the production side, from quarter to quarter, there were three business that provide impact. First, government administration, compulsory social defense and insurance as well as Information and Communication. These figures were quite high due to the increasing government’s budget. The agricultural sector accounted for the weakening of economic growth in Indonesia caused by the phenomenon of el nino, which provided significant impact on the success in the national agricultural sector. In 2015, Indonesia’s inflation rate reached 3.4% (yoy). This figure has decreased by about 5.0% when compared to December 2014 of 8.4%. This figure was slightly below the Bank Indonesia forecast of 4%. The characteristics of unstable inflation rate in Indonesia caused greater deviations than the usual annual inflation projection by Bank Indonesia. As a result of this kind of inflation obscurity was the creation of economic costs, such as higher loan costs in the country as compared to other developing countries. When a good track record on achieving an annual inflation target is made, higher credibility of monetary policy will follow. However, since inflation

Tinjauan Ekonomi Indonesia | Overview of Indonesia Economy

Page 15: ANNUAL REPORT ICON 2015 - PURWARUPA

Analisis dan Pembahasan Manajemen | Management Analysis and Discussion 2726 Analisis dan Pembahasan Manajemen | Management Analysis and Discussion

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Saat target inflasi tahunan tercapai maka kredibilitas kebijakan moneter yang lebih besar akan mengikutinya. Tingkat inflasi yang tidak stabil tersebut terutama disebabkan oleh penyesuaian harga bahan bakar bersubsidi, yang diprediksi akan menimbulkan deviasi antara target awal dan realisasi inflasi ke depan.

was unstable mainly due to the subsidized fuel price adjustment, we predict that there will be fewer deviations between the original target and actual inflation.

Perekonomian Indonesia pada tahun 2015 mengalami pertumbuhan sebesar 4,8%, melambat dibandingkan 2014 sebesar 5,0%. Pertumbuhan ekonomi tersebut dipangaruhi oleh beberapa aspek usaha seperti administrasi pemerintahan, pertahanan, jaminan sosial wajib serta informasi dan Komunikasi. Pertumbuhan ekonomi ini tergolong cukup tinggi karena disokong oleh anggaran dari pemerintah yang meningkat. Sektor pertanian menyumbang pelemahan pertumbuhan ekonomi Indonesia yang disebabkan fenomena el nino, di mana membawa dampak signifikan terhadap keberhasilan di sektor pertanian di tanah air. Pada tahun 2015, tingkat inflasi Indonesia mencapai 3,4% (yoy). Angka ini mengalami penurunan yang cukup besar jika dibandingkan dengan tingkat inflasi tahun 2014 yaitu 8,4%. Angka tersebut di bawah ekspektasi Bank Indonesia yang memprediksi inflasi tahun ini sebesar 4%. Karakteristik tingkat inflasi yang tidak stabil di Indonesia menyebabkan deviasi yang lebih besar dibandingkan proyeksi inflasi tahunan oleh Bank Indonesia. Akibat dari ketidakjelasan inflasi ini adalah terciptanya biaya-biaya ekonomi, seperti tingkat bunga pinjaman yang cukup tinggi dibandingkan dengan negara-negara berkembang lainnya.

Indonesia’s economy in 2015 grew by 4.8%, slower than in 2014 which was 5.0%. On the production side, from quarter to quarter, there were three business that provide impact. First, government administration, compulsory social defense and insurance as well as Information and Communication. These figures were quite high due to the increasing government’s budget. The agricultural sector accounted for the weakening of economic growth in Indonesia caused by the phenomenon of el nino, which provided significant impact on the success in the national agricultural sector. In 2015, Indonesia’s inflation rate reached 3.4% (yoy). This figure has decreased by about 5.0% when compared to December 2014 of 8.4%. This figure was slightly below the Bank Indonesia forecast of 4%. The characteristics of unstable inflation rate in Indonesia caused greater deviations than the usual annual inflation projection by Bank Indonesia. As a result of this kind of inflation obscurity was the creation of economic costs, such as higher loan costs in the country as compared to other developing countries. When a good track record on achieving an annual inflation target is made, higher credibility of monetary policy will follow. However, since inflation

Kegiatan usaha Perseroan diklasifikasikan ke dalam 3 bidang usaha, yaitu:a. Jasa katering dan pemeliharaan fasilitas untuk perusahaan

minyak dan pertambangan yang berlokasi di remote area & off-shore, yang dilakukan oleh anak perusahaan PT Patra Supplies and Services (PSS);

b. Jasa penyewaan villa di Seminyak, Bali yang dilakukan oleh Perseroan;

c. Pembangunan dan penjualan properti villa dan kondotel di Jimbaran, Bali yang dilakukan oleh anak perusahaan PT Bhumi Lestari Makmur (BLM).

Per Desember 2015, PSS memiliki 19 kontrak dari 16 klien dengan total nilai kontrak sebesar Rp 128,9 milyar. Adapun klien yang ditangani untuk masing-masing jenis layanan adalah sebagai berikut:a. Jasa katering: Petrochina (Bermuda), PT. Tripatra Engineering,

Teras Offshore Pte Ltd, PT. Leighton Kontraktor Indonesia, PT. Bina Insan Sukses Mandiri, PT. Perusahaan Gas Negara (Persero), Tbk, PT. Andyana, PT. Hafar Daya Konstruksi, PT. Timah, PHE ONWJ, PHE Siak, JOB Talisman.

b. Jasa cleaning: PT. Always Fit, Siam Cement Group, PT. Colorpak Indonesia, Tbk, Plaza Asia, SKK Migas.

c. Jasa manajemen fasilitas: PT. H.M. Sampoerna.

BLM, anak perusahan Perseroan yang baru diakuisisi tahun 2014, bergerak dibidang pengembangan property vila dan kondotel di Jimbaran, Bali. BLM mengembangkan 113 unit vila dan 126 unit kondotel (2 tower) diatas lahan 5,3 hektar dengan target market golongan menengah keatas. Per akhir Desember 2015, jumlah penjualan villa telah mencapai sebanyak 58 unit atau sekitar 51% dari total unit vila. Sedangkan jumlah penjualan kondotel mencapai 20 unit atau sekitar 16% dari total unit kondotel. Progres pembangunan secara keseluruhan telah mencapai hampir 70%, dimana sudah ada 4 unit contoh untuk villa (3 unit tipe 1 bedroom dan 1 unit tipe 2 bedroom).

Perseroan mengelola penyewaan vila sebanyak 10 unit di Seminyak, Bali dengan nama Bali Island Villas, yang lokasinya berdekatan dengan Beach Club Potato Head. Vila yang disewakan berukuran 250 m2 per unit, yang telah dilengkapi dengan private pool. Tingkat okupansi tahun 2015 mencapai 88%.

Dari hasil PUT I sebesar Rp 106 milyar (setelah dikurangi biaya emisi), sebanyak Rp 36 milyar diantaranya diperuntukkan bagi pengembangan Beach Club, dimana sebesar Rp 22 milyar telah digunakan untuk menyewa tanah seluas 2,2 hektar di Jimbaran selama 20 tahun. Beach Club ini ditujukan untuk menjadi fasilitas umum dalam kawasan Bali International Park. Sampai dengan saat ini, Beach Club telah memasuki tahap perijinan dan persiapan lahan (site clearing, cut & fill).

The Company is classified into three business areas, which are:

a. Catering service and facility maintenance for oil and mining companies located in remote areas and off-shore, which are performed by the subsidiary, PT Patra Supplies and Services (PSS);

b. Villa rental service in Seminyak, Bali conducted by the Company;

c. Development and sale of villas and condotel properties in Jimbaran, Bali conducted by the subsidiary, PT Lestari Makmur Bhumi (BLM)

As of December 2015, PSS has 19 contracts from 16 clients with a total contract value of Rp 128.9 billion. As for the clients handled for each type of service is as follows:

a. Catering services: Petrochina (Bermuda), PT. Tripatra Engineering, Teras Offshore Pte Ltd, PT. Leighton Contractors Indonesia, PT. Bina Insan Sukses Mandiri, PT. Perusahaan Gas Negara (Persero), Tbk, PT. Andyana, PT. �afar Power Construction, PT. Tin, ONWJ PHE, PHE Siak, JOB Talisman.

b. Cleaning services: PT. Always Fit, Siam Cement Group, PT. Colorpak Indonesia, Tbk, Plaza Asia, SKK Migas.

c. Facilities management services: PT. H.M. Sampoerna.

BLM, the Company's new subsidiaries acquired in 2014, is engaged in property development and condotel villas in Jimbaran, Bali. BLM develop 113 villas and 126 condotel units (two towers) on an area of 5.3 hectares with a target market of middle and upper class. As of the end of December 2015, the number of villa sales have reached as many as 58 units or approximately 51% of total unit villa. While the number of Condotel sales reached 20 units or approximately 16% of the total units of Condotel. Construction progress overall has reached almost 70%, which is already 4 units example for villas (3 units of type 1 bedroom and 1 unit of type 2 bedroom).

The Company manages the rental of 10 villa units in Seminyak, Bali with the brand name of Bali Island Villas of which location is adjacent to the Beach Club Potato Head. A villa unit for rent measures 250 m2 and is furnished with a private pool. The occupancy level in 2015 reached 88%.

From the results of the Rights Offering, amounting to Rp 106 billion (net of issuance costs), as much as Rp 36 billion was earmarked for the development of Beach Club, which amounted to Rp 22 billion has been used to rent the land area of 2.2 hectares in Jimbaran for 20 years. Beach Club is intended to be a public facility within the Bali International Park. Up to now, the Beach Club has entered into a licensing and land preparation (site clearing, cut & fill).

Tinjauan Operasi per Segmen Usaha | Overview of Operations by Segment

Pendapatan Perseroan meningkat tipis 0,9% dari Rp 170,68 milyar di tahun 2014 menjadi Rp 172,37 milyar di tahun 2015. Hal ini terutama disebabkan oleh peningkatan tipis dari jasa catering dan turunannya melalui entitas anak Patra Supplies & Services (PSS), serta dari peningkatan pendapatan jasa penyewaan villa. Pendapatan terbesar PSS masih berasal dari jasa catering dan turunannya (sekitar 90%). Sedangkan pendapatan jasa kebersihan mulai memberikan kontribusinya sekitar 5%. Anak Perusahaan Perseroan yang baru diakuisisi pada Februari 2014 yaitu Bhumi Lestari Makmur (BLM), walaupun telah menerima sejumlah pesanan dari penjualan villa dan kondotel namun belum dapat diakui sebagai pendapatan karena belum terjadi serah terima.

Beban usaha Perseroan meningkat dari Rp 24,08 milyar di tahun 2014 menjadi Rp 24,69 milyar di tahun 2015 atau naik sebesar 2,5%. Kenaikan ini terutama terjadi pada bisnis unit penyewaan Villa sebesar Rp 6,85 milyar atau 27,7% dari total beban usaha Perseroan.

Laba Komprehensif Perseroan meningkat sebesar 24,6% dari Rp 5,35 milyar di tahun 2014 menjadi Rp 6,67 milyar di tahun 2015. Hal ini terutama disebabkan oleh peningkatan efisiensi dalam operasional dan pembelian bahan baku Perseroan serta keuntungan dari selisih kurs. PSS memberikan kontribusi sebesar Rp 15,39 milyar atau 130,8% dari total laba komprehensif Perseroan. Namun BLM dan penyewaan villa masing-masing menyumbang kerugian komprehensif sebesar Rp 3,40 milyar (-51%) dan Rp 5,32milyar (-80%).

Laba Komprehensif Neto yang dapat diatribusikan kepada Pemilik Entitas Induk mengalami penurunan dari Rp 1,24 milyar di tahun 2014 menjadi sebesar Rp 253 juta di tahun 2015. Hal ini dikarenakan : 1) beban operasional bisnis penyewaan villa meningkat sebesar 200%, dari Rp 3,04 milyar di tahun 2014 menjadi sebesar Rp 6,85 milyar di tahun 2015; 2) pendapatan dari anak perusahaan, BLM, belum bisa diakui.

Aset Perseroan bertambah secara signifikan dari Rp 277,01 milyar di tahun 2014 menjadi Rp 414,19 milyar atau meningkat 50%. Penambahan aset Perseroan yang tinggi ini disebabkan oleh meningkatnya aktiva lancar Perseroan terutama pada persediaan dan uang muka komitmen. Persediaan berasal dari aset BLM berupa bangunan dalam masa konstruksi. Sementara itu, uang muka komitmen merupakan uang jaminan atas rencana kerjasama pengembangan lahan atau pembelian aset produktif yang berlokasi di prime area di kawasan Jimbaran, Bali. Persediaan dan uang muka komitmen masing-masing memberikan kontribusi terhadap aset Perseroan sebesar 46,1% dan 14,5%.

Per Desember 2015, jumlah kewajiban Perseroan tercatat sebesar Rp 255,5 milyar, naik dari Rp 123,7 milyar di Desember 2014. Kenaikan sebesar 106,5% ini terutama disebabkan oleh peningkatan kewajiban jangka pendek, antara lain uang muka pelanggan dan biaya yang masih harus dibayar. Sedangkan kewajiban jangka panjang menurun dari Rp 14,6 milyar di tahun 2014 menjadi Rp 8,9 milyar di tahun 2015.

Ekuitas Perseroan mengalami tipis sebesar 3,5% dari Rp 153,2 milyar di tahun 2014 menjadi Rp 158,6 milyar di tahun 2015. Hal ini

The Company's revenues increased slightly by 0.9% from Rp 170.68 billion in 2014 to Rp 172.37 billion in 2015. This was mainly due to a slight increase from the catering service and derivatives through subsidiaries Patra Supplies & Services (PSS), as well as from increased revenues villa rental services. PSS biggest revenue still comes from catering services and derivatives (about 90%). While cleaning services revenues began to contribute about 5%. Subsidiary Company's newly acquired in February 2014 that Bhumi Lestari Makmur (BLM), although it has received a number of orders from the sale of villas and condotel but can not be recognized as revenue because it has not happened handover.

Company's operating expenses increased from Rp 24.08 billion in 2014 to Rp 24.69 billion in 2015, up by 2.5%. This increase mainly occurred in the business unit rental Villa Rp 6.85 billion, or 27.7% of total operating expenses of the Company.

Comprehensive income of the Company increased by 24.6% from US $ 5.35 billion in 2014 to Rp 6.67 billion in 2015. This is mainly due to the increase in operational efficiency and the Company's purchases of raw materials as well as profit from foreign exchange. PSS contributed Rp 15.39 billion or 130.8% of total comprehensive income of the Company. But BLM and rental villas each contributed a comprehensive loss of Rp 3.40 billion (-51%) and Rp 5,32milyar (-80%).

Comprehensive Net profit attributable to owners of the Parent Company decreased to Rp 1.24 billion in 2014 to Rp 253 million in 2015. This is because: 1) villa rental business operating expenses increased by 200%, from Rp 3, 04 billion in 2014 to Rp 6.85 billion in 2015; 2) income from subsidiaries, BLM, can not be recognized.

Company assets increased significantly from Rp 277.01 billion in 2014 to Rp 414.19 billion or an increase of 50%. The addition of the Company's assets are high due to the increase in current assets of the Company, especially in inventories and advances commitments. BLM asset inventory comes from a building in the construction period. Meanwhile, an advance commitment to a security deposit on a plan of cooperation in land development or purchase of assets which are located in a prime area in the area of Jimbaran, Bali. Inventories and advances the commitment of each to contribute to the assets of the Company amounted to 46.1% and 14.5%.

As of December 2015, total liabilities of the Company amounted to Rp 255.5 billion from Rp 123.7 billion in December 2014. The increase of 106.5% was mainly due to an increase in short-term liabilities, such as customer advances and fees are still must pay. While long-term liabilities decreased from Rp 14.6 billion in 2014 to Rp 8.9 billion in 2015.

Equities Company experienced slightly by 3.5% from Rp 153.2 billion in 2014 to Rp 158.6 billion in 2015. This was due to the

Analisis Kinerja Keuangan | Financial Performance Analisys

Page 16: ANNUAL REPORT ICON 2015 - PURWARUPA

Analisis dan Pembahasan Manajemen | Management Analysis and Discussion 2928 Analisis dan Pembahasan Manajemen | Management Analysis and Discussion

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Strategi Bisnis | Business StrategyStrategi umum Perseroan selama tahun 2015 adalah mempercepat penyelesaian pembangunan villa dan kondotel, serta menjaga tingkat pertumbuhan pendapatan dari sektor property. Selama tahun 2015, Perseroan berkonsentrasi untuk menyelesaikan pembangunan Villa dan Kondotel yang telah dipesan oleh para pelanggan. Sampai dengan akhir 2015, Perseroan melalui anak usahanya, PT Bhumi Lestari Makmur (BLM), telah membangun 65 unit vila dan 2 blok Kondotel. Perseroan juga sudah menyelesaikan tahapan design dan memasuki tahapan perijinan untuk pembangunan Beach Club. Manajemen berkeyakinan bahwa strategi mempercepat penyelesaian pembangunan villa dan kondotel, serta pembangunan Beach Club, akan berdampak pada mulai dibukukannya pendapatan dari BLM. Selama ini, kontribusi pendapatan Peseraon sebagian besar (96%) diperoleh dari pendapatan dari sektor jasa catering dan pemeliharaan, melalui anak usaha Perseroan yaitu PT Patra Supplies and Services (PSS). Selebihnya, kontribusi pendapatan usaha didapat dari usaha penyewaan Villa di Seminyak.

Seiring dengan belum pulihnya perekonomian global dan domestik, manajemen Perseroan memproyeksikan bahwa pada tahun 2016 Pendapatan dan Laba Komprehensih Konsolidasi akan turun tipis dibanding pencapaian tahun 2015. Pendapatan dan Laba Komprehensif Perseroan diproyeksikan akan turun 20%. Penurunan pendapatan terbesar diproyeksikan dari jasa catering, yaitu sebesar 40%. Hal ini dikarenakan adanya beberapa kontrak yang telah berakhir dan tidak diperpanjang, serta turunnya pertumbuhan volume eksplorasi migas nasional. DIsamping itu, marjin keuntungan pada jasa catering juga menurun seiring dengan peningkatan harga bahan pokok makanan yang umumnya melebihi tingkat inflasi umum. Sebagaimana diketahui, Perseroan melalui entitas anak-nya PSS, memberikan jasa catering dan pemeliharaan bagi perusahaan-perusahaan migas nasional yang beroperasi di daerrah terpencil (remote area) dan laut lepas (off-shore). Sebaliknya, pendapatan dari entitas anak Bhumi Lestari Makmur, diproyeksikan akan meningkat cukup tajam seiring dengan penyelesaian pembangunan villa dan kondotel yang dipesan. Manajemen berkeyakinan bahwa pasar properti terutama untuk produk vila, masih cukup tinggi untuk daerah Bali, khususnya untuk daerah Jimbaran. Penurunan tingkat suku bunga deposito dan pinjaman, serta stabilnya nilai tukar Rupiah terhdap Dolar AS dan adanya kelonggaran aturan pembelian property bagi WNA merupakan pemicu / trigger yang baik bagi pertumbuhan pasar property di Indonesia. Namun demikian, kontribusi kenaikan dari sektor properti ini diperikirankan belum mampu menutupi kontribusi penuruanan pendapatan dari sektor catering. Strategi pemasaran Perseroan untuk 2016 terhadap sisa persediaan villa dan kondotel akan lebih ditekankan kepada pemasaran dari mulut-ke-mulut (mouth-to-mouth) mengingat sebagian besar unit villa sudah terjual dan lokasi proyeksi akan mulai ramai seiring dengan mulai berkembangnya pariwisata dan ekonomi di daerah tersebut. Dengan proyeksi diatas, maka kontribusi pendapatan dari PSS kepada Perseroan akan berkisar di angka 60%. Sisanya berasal dari sektor property (35%) dan jasa penyewaan vila (5%). Berdasarkan pertimbangan-pertimbangan diatas, maka strategi Perseroan pada tahun 2016 adalah untuk tetap menjaga momentum pertumbuhan pendapatan dari sektor properti melalui entitas anak

The general strategy of the Company for 2015 is to accelerate the completion of the construction of villas and condotel, as well as maintaining the level of revenue growth of the property sector. During 2015, the Company concentrated on completing the construction of villas and Condotel which has been ordered by the customer. As of the end of 2015, the Company through its subsidiary, PT Bhumi Lestari Makmur (BLM), has built 65 villas and 2 blocks Condotel. The Company also completed the design phase and entered the stage of permitting for construction Beach Club. Management believes that the strategy of speeding up the completion of the construction of villas and condotel, as well as the construction of Beach Club, will have an impact on the start dibukukannya revenue from BLM. During this time, the revenue contribution Peseraon vast majority (96%) was obtained from the income from the service sector catering and maintenance, through the Company's subsidiary, PT Patra Supplies and Services (PSS). Moreover, the contribution of revenues derived from rental business Villa in Seminyak.

Along with the global economy has not fully recovered and domes-tic, management of company projects that by 2016 Revenue and Earnings Consolidated Komprehensih will be down slightly compared to the achievement in 2015. Income and Comprehensive Income The Company is projected to fall 20%. The projected decline in revenue from catering services, which amounted to 40%. This is due to several contracts that had expired and was not renewed, and decrease the volume growth of national oil and gas exploration. In addition, the profit margin on catering services also decreased with an increase in the price of staple foods that generally exceeded the rate of general inflation. As known, the Company through its subsidiaries PSS, provide catering services and maintenance for the national oil and gas companies operating in daerrah remote (remote areas) and the open sea (off-shore).

In contrast, revenues from subsidiaries Bhumi Lestari Makmur, is projected to increase sharply due to the completion of development and condotel villas were booked. Management believes that the property market is mainly for products villa, is still quite high for Bali, especially for the Jimbaran area. The decline in interest rates on deposits and loans, as well as the stability of the rupiah terhdap US dollar and the leniency rules for foreigners buying property merupkan trigger / trigger that is good for the growth of the property market in Indonesia. However, the contribution of the increase in the property sector have not been able to cover the contribution diperikirankan penuruanan revenue from catering sector.

The marketing strategy of the Company for 2016 against the remaining inventory villa and condotel will be more concerned with the marketing of mouth-to-mouth (mouth-to-mouth) given that most villas have already been sold and the location of the projection will start crowded due to begin development of tourism and economy in the area. With the above projections, the revenue contribution from PSS to the Company will amounts to 60%. The rest comes from the property sector (35%) and villa rental services (5%). Based on these considerations, the Company's strategy in 2016 is to maintain the momentum of growth in income from property sector through subsidiaries, BLM, by acquiring other productive

BLM, yaitu dengan mengakuisisi aset produktif lainnya di Bali dan efisiensi pada entitas anak PSS. Pada tahun 2015, BLM telah memberikan uang muka komitmen sebesar Rp. 60 milyar untuk mengakuisisi aset produktif di prime area Jimbaran. Tujuan daripada pemberian uang muka komitmen ini adalah agar Perseroan dapat menjaga momentum pertumbuhan pendapatan dari sektor properti di tahun-tahun mendatang. Terkait struktur modal, sampai saat ini manajemen belum merencanakan adanya tambahan modal baru. Kebijakan manajemen dalam hal pembagian dividen masih sesuai Anggaran Dasar Perseroan dengan tetap memperhatikan posisi keuangan atau tingkat kesehatan Perseroan.

assets in Bali and efficiency in subsidiaries PSS. In 2015, the BLM has given a commitment down payment of Rp. 60 billion to acquire productive assets in the prime area of Jimbaran. The objective of granting advances this commitment is that the Company can maintain the momentum of revenue growth of the property sector in the coming years. Related capital structure, to date management has not planned any new additional capital. Management policy on dividend distribution is still appropriate Articles of Association with regard to the financial position or the soundness of the Company.

disebabkan oleh peningkatan jumlah ekuitas yang dapat diatribusikan kepada kepentingan non-pengendali.

Kas dan setara kas pada akhir tahun 2015 menurun menjadi Rp 39,6 milyar dari Rp 87,9 milyar di akhir tahun 2014. Penurunan tersebut terutama karena adanya pembayaran utang bank dan pembayaran uang muka komitmen kerjasama. Kas dari aktifitas operasi berjumlah sebesar Rp 34,9 milyar pada akhir tahun 2015, meningkat dari minus Rp 12,2 milyar yang tercatat pada akhir tahun 2014. Sedangkan kas yang digunakan untuk aktifitas investasi tercatat sebesar Rp 61,7 milyar pada akhir tahun 2015, meningkat tajam dari posisi akhir tahun 2014 yang sebesar Rp 2,7 milyar. Hal ini karena pada tahun 2015, anak perusahaan Perseroan, BLM, melakukan pembayaran uang jaminan atas rencana kerjasama pengembangan lahan atau pembelian aset produktif yang berlokasi di prime area di kawasan Jimbaran, Bali. Kas dari aktifitas pendanaan pada akhir tahun 2015 sebesar minus Rp 21,5 milyar, menurun dari Rp 103,8 milyar di akhir tahun 2014.

Kemampuan membayar utang Perseroan pada tahun 2015 menurun dibandingkan pada tahun sebelumnya, yang masing- masing tercatat 1,61x dan 0,81x. Hal ini ditunjukkan oleh rasio liabilitas terhadap ekuitas Perseroan, dimana penurunan ini disebabkan karena peningkatan biaya yang masih harus dibayar dan uang muka pelanggan pada anak perusahaan, BLM.

Rata-rata umur piutang usaha Perseroan pada tahun 2015 dibanding tahun 2014 mengalami sedikit penurunan, masing-masing tercatat sebesar 133 hari dan 127 hari. Hal ini disebabkan meningkatnya volume usaha dan adanya keterlambatan dalam proses administrasi pembaharuan kontrak dari pihak pelanggan.

Struktur permodalan Perseroan pada tahun 2015 dan 2014, masing-masing terdiri atas:- Modal sendiri sebesar Rp 158,7 milyar & Rp 153,3 milyar;- Utang bank jangka pendek sebesar Rp 0,- &Rp 13,3 milyar;- Utang usaha pihak ketiga sebesar Rp 19,1 milyar &Rp 27,1

milyar;- Utang bank jangka panjang sebesar Rp 0,- &Rp 0,-.

Manajemen Perseroan beranggapan bahwa struktur permodalan tersebut masih cukup mengandalkan modal sendiri daripada pihak perbankan

Anak perusahaan Perseroan, BLM, yang diakuisisi pada tahun 2014 belum dapat mencatatkan hasil penjualan yang telah dilakukan karena belum terjadi peralihan hak kepada konsumen, sesuai dengan PSAK 44. Sampai dengan akhir tahun 2015, BLM telah melakukan penjualan Villa sebanyak 58 unit dan Kondotel sebanyak 20 unit dengan total nilai penjualan sebesar Rp 259,5 milyar.

Melalui anak perusahaan Perseroan yang bergerak di bidang katering yaitu PSS, Perseroan fokus terhadap pemasaran katering untuk perusahaan minyak dan gas dan tambang yang beroperasi di daerah sulit terjangkau dan laut lepas. Berdasarkan pengalaman Perseroan, pangsa pasar katering untuk perusahaan migas dan tambang masih cukup besar. Namun Perseroan terus mewaspadai penurunan kontrak seiring dengan penurunan harga komoditas migas dan penurunan nilai tukar rupiah yang selanjutnya dapat menekan investasi baru di bidang migas. Dalam hal ini, Perseroan mensiasati dengan masuk ke bisnis perawatan dan kebersihan gedung dan pusat perbelanjaan.

increase in equity attributable to non-controlling interests.

Cash and cash equivalents at the end of 2015 decreased to Rp 39.6 billion from Rp 87.9 billion at the end of 2014. The decrease was primarily due to the repayment of bank debt and payment of an advance commitment to cooperation. Cash from operating activities amounted to Rp 34.9 billion at the end of 2015, up from minus Rp 12.2 billion recorded at the end of 2014. The cash used for investing activities totaled US $ 61.7 billion at the end of 2015, increased sharply from the end of 2014 which amounted to Rp 2.7 billion. This is because in 2015, the Company's subsidiary, BLM, to pay bail on a plan of cooperation in land development or purchase of assets which are located in a prime area in the area of Jimbaran, Bali. Cash from financing activities at the end of 2015 amounted to minus Rp 21.5 billion, down from US $ 103.8 billion at the end of 2014.

The Company's ability to pay the debt in 2015 decreased compared to the previous year, which respectively recorded 1.61 x and 0,81x. This is indicated by the ratio of liabilities to shareholders' equity, where the decline is due to increased costs accrued and deposits from customers in the subsidiary, the BLM.

The average age of the Company's accounts receivable in 2015 compared to 2014 decreased slightly, each recorded at 133 days and 127 days. This is due to the increased volume of business and the delay in the administrative process of the customer's contract renewal.

The capital structure of the Company in 2015 and 2014, each of which consists of:- Own capital of Rp 158.7 billion and Rp 153.3 billion;- Short-term bank debt of Rp 0, - and Rp 13.3 billion;- Accounts payable third parties amounted to Rp 19.1 billion and

Rp 27.1 billion;- Long-term bank debt of Rp 0, - and Rp 0, -.

The Company's management considers that the capital structure is still enough to rely on their own capital than the banks

Subsidiary of the Company, BLM, which was acquired in 2014 have not been able to record the results of the sale has been done because it has not happened transfer of rights to consumers, in accordance with IAS 44. As of the end of 2015, the BLM has been selling Villa were 58 units and as many as 20 Condotel units with a total sales value of Rp 259.5 billion.

Through its subsidiaries are engaged in the catering that PSS, the Company focused on catering to the marketing of oil and gas companies and mines operating in areas difficult to reach and the open sea. Based on the experience of the Company, the share market catering to oil and gas companies and the mine is still quite large. However, the Company continues to be aware of the contract decrease due to lower oil and gas commodity prices and the decline in the exchange rate which could further depress investment in new oil and gas fields. In this regard, the Company anticipate to go into business for maintenance and cleaning of buildings and shopping centers.

Page 17: ANNUAL REPORT ICON 2015 - PURWARUPA

Corporate GovernanceTata Kelola Perusahaan

30 Analisis dan Pembahasan Manajemen | Management Analysis and Discussion

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Strategi umum Perseroan selama tahun 2015 adalah mempercepat penyelesaian pembangunan villa dan kondotel, serta menjaga tingkat pertumbuhan pendapatan dari sektor property. Selama tahun 2015, Perseroan berkonsentrasi untuk menyelesaikan pembangunan Villa dan Kondotel yang telah dipesan oleh para pelanggan. Sampai dengan akhir 2015, Perseroan melalui anak usahanya, PT Bhumi Lestari Makmur (BLM), telah membangun 65 unit vila dan 2 blok Kondotel. Perseroan juga sudah menyelesaikan tahapan design dan memasuki tahapan perijinan untuk pembangunan Beach Club. Manajemen berkeyakinan bahwa strategi mempercepat penyelesaian pembangunan villa dan kondotel, serta pembangunan Beach Club, akan berdampak pada mulai dibukukannya pendapatan dari BLM. Selama ini, kontribusi pendapatan Peseraon sebagian besar (96%) diperoleh dari pendapatan dari sektor jasa catering dan pemeliharaan, melalui anak usaha Perseroan yaitu PT Patra Supplies and Services (PSS). Selebihnya, kontribusi pendapatan usaha didapat dari usaha penyewaan Villa di Seminyak.

Seiring dengan belum pulihnya perekonomian global dan domestik, manajemen Perseroan memproyeksikan bahwa pada tahun 2016 Pendapatan dan Laba Komprehensih Konsolidasi akan turun tipis dibanding pencapaian tahun 2015. Pendapatan dan Laba Komprehensif Perseroan diproyeksikan akan turun 20%. Penurunan pendapatan terbesar diproyeksikan dari jasa catering, yaitu sebesar 40%. Hal ini dikarenakan adanya beberapa kontrak yang telah berakhir dan tidak diperpanjang, serta turunnya pertumbuhan volume eksplorasi migas nasional. DIsamping itu, marjin keuntungan pada jasa catering juga menurun seiring dengan peningkatan harga bahan pokok makanan yang umumnya melebihi tingkat inflasi umum. Sebagaimana diketahui, Perseroan melalui entitas anak-nya PSS, memberikan jasa catering dan pemeliharaan bagi perusahaan-perusahaan migas nasional yang beroperasi di daerrah terpencil (remote area) dan laut lepas (off-shore). Sebaliknya, pendapatan dari entitas anak Bhumi Lestari Makmur, diproyeksikan akan meningkat cukup tajam seiring dengan penyelesaian pembangunan villa dan kondotel yang dipesan. Manajemen berkeyakinan bahwa pasar properti terutama untuk produk vila, masih cukup tinggi untuk daerah Bali, khususnya untuk daerah Jimbaran. Penurunan tingkat suku bunga deposito dan pinjaman, serta stabilnya nilai tukar Rupiah terhdap Dolar AS dan adanya kelonggaran aturan pembelian property bagi WNA merupakan pemicu / trigger yang baik bagi pertumbuhan pasar property di Indonesia. Namun demikian, kontribusi kenaikan dari sektor properti ini diperikirankan belum mampu menutupi kontribusi penuruanan pendapatan dari sektor catering. Strategi pemasaran Perseroan untuk 2016 terhadap sisa persediaan villa dan kondotel akan lebih ditekankan kepada pemasaran dari mulut-ke-mulut (mouth-to-mouth) mengingat sebagian besar unit villa sudah terjual dan lokasi proyeksi akan mulai ramai seiring dengan mulai berkembangnya pariwisata dan ekonomi di daerah tersebut. Dengan proyeksi diatas, maka kontribusi pendapatan dari PSS kepada Perseroan akan berkisar di angka 60%. Sisanya berasal dari sektor property (35%) dan jasa penyewaan vila (5%). Berdasarkan pertimbangan-pertimbangan diatas, maka strategi Perseroan pada tahun 2016 adalah untuk tetap menjaga momentum pertumbuhan pendapatan dari sektor properti melalui entitas anak

The general strategy of the Company for 2015 is to accelerate the completion of the construction of villas and condotel, as well as maintaining the level of revenue growth of the property sector. During 2015, the Company concentrated on completing the construction of villas and Condotel which has been ordered by the customer. As of the end of 2015, the Company through its subsidiary, PT Bhumi Lestari Makmur (BLM), has built 65 villas and 2 blocks Condotel. The Company also completed the design phase and entered the stage of permitting for construction Beach Club. Management believes that the strategy of speeding up the completion of the construction of villas and condotel, as well as the construction of Beach Club, will have an impact on the start dibukukannya revenue from BLM. During this time, the revenue contribution Peseraon vast majority (96%) was obtained from the income from the service sector catering and maintenance, through the Company's subsidiary, PT Patra Supplies and Services (PSS). Moreover, the contribution of revenues derived from rental business Villa in Seminyak.

Along with the global economy has not fully recovered and domes-tic, management of company projects that by 2016 Revenue and Earnings Consolidated Komprehensih will be down slightly compared to the achievement in 2015. Income and Comprehensive Income The Company is projected to fall 20%. The projected decline in revenue from catering services, which amounted to 40%. This is due to several contracts that had expired and was not renewed, and decrease the volume growth of national oil and gas exploration. In addition, the profit margin on catering services also decreased with an increase in the price of staple foods that generally exceeded the rate of general inflation. As known, the Company through its subsidiaries PSS, provide catering services and maintenance for the national oil and gas companies operating in daerrah remote (remote areas) and the open sea (off-shore).

In contrast, revenues from subsidiaries Bhumi Lestari Makmur, is projected to increase sharply due to the completion of development and condotel villas were booked. Management believes that the property market is mainly for products villa, is still quite high for Bali, especially for the Jimbaran area. The decline in interest rates on deposits and loans, as well as the stability of the rupiah terhdap US dollar and the leniency rules for foreigners buying property merupkan trigger / trigger that is good for the growth of the property market in Indonesia. However, the contribution of the increase in the property sector have not been able to cover the contribution diperikirankan penuruanan revenue from catering sector.

The marketing strategy of the Company for 2016 against the remaining inventory villa and condotel will be more concerned with the marketing of mouth-to-mouth (mouth-to-mouth) given that most villas have already been sold and the location of the projection will start crowded due to begin development of tourism and economy in the area. With the above projections, the revenue contribution from PSS to the Company will amounts to 60%. The rest comes from the property sector (35%) and villa rental services (5%). Based on these considerations, the Company's strategy in 2016 is to maintain the momentum of growth in income from property sector through subsidiaries, BLM, by acquiring other productive

BLM, yaitu dengan mengakuisisi aset produktif lainnya di Bali dan efisiensi pada entitas anak PSS. Pada tahun 2015, BLM telah memberikan uang muka komitmen sebesar Rp. 60 milyar untuk mengakuisisi aset produktif di prime area Jimbaran. Tujuan daripada pemberian uang muka komitmen ini adalah agar Perseroan dapat menjaga momentum pertumbuhan pendapatan dari sektor properti di tahun-tahun mendatang. Terkait struktur modal, sampai saat ini manajemen belum merencanakan adanya tambahan modal baru. Kebijakan manajemen dalam hal pembagian dividen masih sesuai Anggaran Dasar Perseroan dengan tetap memperhatikan posisi keuangan atau tingkat kesehatan Perseroan.

assets in Bali and efficiency in subsidiaries PSS. In 2015, the BLM has given a commitment down payment of Rp. 60 billion to acquire productive assets in the prime area of Jimbaran. The objective of granting advances this commitment is that the Company can maintain the momentum of revenue growth of the property sector in the coming years. Related capital structure, to date management has not planned any new additional capital. Management policy on dividend distribution is still appropriate Articles of Association with regard to the financial position or the soundness of the Company.

Realisasi Penggunaan Dana Hasil Penawaran Umum Terbatas | Realization of the use ofProceeds from Registered Public OfferingSehubungan dengan dana yang diperoleh dari PUT I, Perseroan telah merealisasikan sebagian dana PUT I sesuai prospektus, yaitu sbb:a. Rp 60 milyar untuk mengakuisisi PT Bhumi Lestari Makmur

(BLM) yang berusaha di bidang pengembangan properti vila dan kondotel di Jimbaran, Bali;

b. Rp 22 milyar untuk menyewa tanah seluas 2,2 hektar selama 20 tahun di Jimbaran, Bali;

c. Rp 6 milyar untuk menyewa tanah dan bangunan di Seminyak selama 5 tahun;

d. Rp 14 milyar untuk pembangunan Beach Club;e. Rp 4,2 milyar untuk modal kerja Perseroan.

Pembangunan Beach Club yang sempat tertunda beberapa bulan karena alotnya negosiasi dengan beberapa calon operator, saat ini telah memasuki tahap perencanaan dan pembangunan sebagian infrastruktur. Manajemen memperkirakan pembangunan Beach Club akan selesai pada awal 2017.

Sisa dana hasil PUT I yang belum terealisasi saat ini ditempatkan pada deposito.

In connection with funds obtained from Rights Issue I, the Company realized part of the funds of Rights Issue I as according to the prospectus in the following:a. IDR 60 billion to acquire PT Lestari Makmur Bhumi (BLM) which

is engaged in the field of villas and condotel property development in Jimbaran, Bali;

b. IDR 22 billion to lease a land area of 2.2 hectares for 20 years in Jimbaran, Bali;

c. IDR 6 billion to lease the land and buildings in Seminyak for 5 years;

d. IDR 14 billion for the construction of Beach Club;e. IDR 4.2 billion for the Company’s working capital.

Construction of Beach Club which has been delayed several months because of tough negotiation with several potential operators, has now entered the planning stage and the construction of some infrastructure. Management expects that construction of the Beach Club will be completed in early 2017.

The remaining unrealized proceed from Rights Issue I is currently placed on deposit.

Kebijakan Dividen | Dividend PolicyKebijakan manajemen dalam hal pembagian dividen masih sesuai Anggaran Dasar Perseroan dengan tetap memperhatikan posisi keuangan atau tingkat kesehatan Perseroan.Pada tahun buku 2015, Perseroan tidak memberikan dividen karena Perseroan mengalami defisit ekuitas.

Management policy on dividend distribution is still appropriate Articles of Association with regard to the financial position or the soundness of the Company.In fiscal year 2015, the Company did not pay dividends for the Company's equity deficit.

Page 18: ANNUAL REPORT ICON 2015 - PURWARUPA

Tata Kelola Perusahaan | Corporate Governance 33

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

ICON telah menjadikan dan menerapkan GCG sebagai bagian dari strategi Perseroan untuk menciptakan keunggulan bagi ICON dalam memenangkan persaingan dan memberikan nilai tambah bagi para pemangku kepentingan.

Sebagai perusahaan publik, ICON menyadari pentingnya penerapan Tata Kelola Perusahaan (GCG) di lingkungan Perseroan maupun anak perusahaan. Ketentuan mengenai pelaksanaan GCG selain tercantum pada Pedoman Umum GCG Indonesia juga terdapat pada UU Perseroan Terbatas No. 40 tahun 2007. Bagi ICON, GCG bukan hanya merupakan rambu-rambu yang harus dipatuhi, namun juga bagian dari budaya perusahaan serta salah satu penunjang untuk kemajuan bisnis yang berkesinambungan.

Memahami pentingnya pelaksanaan GCG, maka Dewan Komisaris dan Direksi ICON telah menjadikan GCG sebagai bagian dari pengelolaan Perseroan melalui penerapan suatu sistem yang mencerminkan prinsip-prinsip keterbukaan informasi, akuntabilitas, pertanggung-jawaban, kemandirian, serta kesetaraan dan kewajaran. Penerapan prinsip-prinsip GCG mampu menciptakan keunggulan bagi ICON dalam menghadapi persaingan dan memberikan nilai tambah bagi para pemangku kepentingan.

Penerapan kelima prinsip GCG tersebut dapat dilihat dalam berbagai bidang kegiatan ICON, antara lain:

a. KeterbukaanICON memberikan informasi yang seluasluasnya kepada publik dan pemegang saham, sesuai peraturan OJK maupun inisiatif sendiri. Laporan diterbitkan secara berkala dan tepat waktu dalam dua bahasa (Inggris dan Indonesia) yang antara lain mencakup Laporan Keuangan Triwulanan, Laporan Keuangan Semesteran, Laporan Keuangan Tahunan yang telah diaudit, serta Laporan Tahunan. Informasi juga diberikan melalui paparan publik, media cetak, media elektronik, dan forum investor.

b. AkuntabilitasICON memiliki sistem pengelolaan perusahaan yang mendukung terciptanya kejelasan fungsi, pelaksanaan dan pertanggungjawaban organ perusahaan. Langkah-langkah yang dilakukan untuk menegakkan prinsip akuntabilitas, antara lain pelaporan Direksi kepada Dewan Komisaris mengenai rencana anggaran tahunan dan evaluasi bersama atas kinerja keuangan Perseroan, penyampaian laporan keuangan pada RUPS Tahunan, pembentukan Audit Internal serta penunjukan auditor eksternal.

c. PertanggungjawabanICON senantiasa mengutamakan kepatuhan terhadap peraturan perundang-undangan yang berlaku dan prinsip-prinsip korporasi yang sehat. Melalui program Corporate Social Responsibility (CSR), ICON terlibat langsung dalam berbagai kegiatan sosial yang terpusat pada pengembangan masyarakat, olah raga, pendidikan, kesehatan dan pelestarian lingkungan.

d. KemandirianDewan Komisaris dan Direksi ICON memiliki pendapat yang independen dalam setiap keputusan yang diambil, namun dimungkinkan untuk mendapatkan saran dari konsultan independen, hukum, sumber daya manusia dan Komite-komite untuk menunjang kelancaran tugasnya.

ICON has established and implemented GCG as part of the Company’s strategy to create competitive advantage for ICON and provide added value to the stakeholders.

As a public company, ICON is fully aware of the importance of Good Corporate Governance (GCG) implementation within the Company as well as in its subsidiaries. Other than those included in the General Guidelines of GCG – Indonesia, rules regarding GCG implementation are also included in the Limited Liability Companies Law No. 40 Year 2007. For ICON, GCG are not only the limits that must be obeyed, but also part of its corporate culture and one of supporting elements required for a sustainable business development.

Recognizing the significance of GCG implementation, the Board of Commissioners (BOC) and Directors (BOD) of ICON have established GCG as part of the Company’s management through the implementation of a system that reflects GCG principles, i.e. transparency, accountability, responsibility, independency, and fairness. Implementation of GCG principles creates an advantage for ICON to compete and provide an added value to the stakeholders.

The implementation of five GCG principles can be seen from various aspects of ICON’s activities, such as:

a. TransparencyICON provides open information to the public and shareholders, both in accordance with the rules of OJK and at its own initiative. Reports are issued periodically and on time in two languages (English and Indonesia). These, among others, include Quarterly, Half-Year, Audit Financial Statements and Annual Reports. Information is also available through press releases, print media, electronic media, and investor forums.

b. AccountabilityICON has a corporate management system that supports the presence of a clear function, implementation and responsibility of the corporate structure. Examples of steps taken to reinforce accountability principle include the following: reporting from the Board of Directors to the Board of Commissioners in regard to annual budget plan and evaluation of the Company’s financial performance, submission of financial statements at the Annual General Meeting of Shareholders, formation of Internal Audit and appointment of external auditor.

c. ResponsibilityICON puts strong emphasize on the compliance to prevailing laws and regulations and sound corporate principles. Through Corporate Social Responsibility (CSR), ICON is directly involved in various social activities focusing on community development, sports, education, health and environment preservation.

d. IndependenceThe Boards of Commissioners and Directors of ICON have independent opinion in each decision undertaken; however, they are allowed to support their duties to obtain advice from independent consultants as in legal and human resources as well as from Committees.

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

e. Kewajaran dan KesetaraanICON menerapkan perlakuan yang setara baik kepada publik, otoritas pasar modal, komunitas pasar modal, maupun para pemangku kepentingan. Hubungan dengan karyawan dijaga dengan memperhatikan hak dan kewajibannya secara adil dan wajar.

Penerapan GCG | Implementation of GCG

e. Fairness and EquitabilityICON applies fair and equal treatment to the public, capital market authority, capital market community, as well as stakeholders. Relations with employees are maintained by fair and equal consideration of their rights and responsibilities.

Komitmen ICON dalam menegakkan GCG di lingkungan Perseroan antara lain ditunjukkan dengan menyusun Panduan Tata Kelola Perusahaan (Code of Corporate Governance), Pedoman Perilaku (Code of Conduct), serta membentuk satuan kerja audit internal dan komite-komite yang bekerja dibawah pengawasan Dewan Komisaris. Dalam pelaksanaan GCG, ICON memperhatikan peraturan perundang -undangan yang berlaku, best practice, dan budaya perusahaan. Agar penerapan GCG dapat berjalan dengan lancar dan mendapatkan dukungan dari seluruh unsur di dalam Perseroan, ICON menetapkan tahapan-tahapan penerapan GCG, mulai dari tahap persiapan, implementasi hingga evaluasi.

• Panduan Pelaksanaan Tata Kelola Perusahaan Sebagai wujud komitmen bersama atas penerapan GCG, ICON

menyusun Panduan Pelaksanaan Tata Kelola Perusahaan (Code of Corporate Governance). Panduan ini merupakan landasan bagi Pemegang Saham, Dewan Komisaris, Direksi dan organ lain terkait proses GCG dalam menyusun berbagai kebijakan yang menjiwai praktik bisnis perusahaan tanpa mengabaikan peraturan perundang-undangan dan nilai-nilai etika.

Panduan Pelaksanaan Tata Kelola Perusahaan ICON mencakup berbagai aspek, antara lain kebijakan Tata Kelola Perusahaan, pedoman Tata Kelola bagi organorgan Perseroan, prinsip-prinsip dan tujuan, struktur pengelolaan Perseroan, serta kebijakan transparansi.

• Peraturan Perusahaan Peraturan Perusahaan ICON telah disahkan oleh Pemerintah

Daerah Kabupatan Badung Dinas Sosial dan Tenaga Kerja Nomor 128 tahun 2013 tentang Pengesahan Peraturan Perusahaan PT Island Concepts Indonesia Tbk tertanggal 10 Oktober 2013 yang berlaku sejak tanggal 10 Oktober 2013 sampai dengan 9 Oktober 2015. Secara umum, Peraturan Perusahaan ini memuat hak dan kewajiban karyawan dan Perusahaan, serta ketentuan yang bertujuan membina hubungan serasi, selaras, dan seimbang dalam usaha meningkatkan efisiensi, produktivitas dan prestasi kerja yang optimal.

• Pedoman Perilaku Pedoman Perilaku ICON telah disahkan melalui Surat Keputusan

Direksi. ICON mewajibkan seluruh manajemen dan staf untuk memahami Pedoman Perilaku ini sebagai dasar penerapan perilaku yang mengatur hubungan antara karyawan dengan perusahaan, sesama karyawan, konsumen, pemasok, pemegang saham, pemerintah dan masyarakat.

- Hubungan Karyawan dengan Perusahaan, mengatur mengenai status kepegawaian, kerahasiaan karyawan, disiplin waktu kerja, penampilan dan cara berpakaian, bebas narkoba dan alkohol di tempat kerja, menghindari benturan kepentingan, investasi pribadi karyawan di Perseroan, penyampaian informasi kepada publik dan hubungan dengan media, kegiatan

ICON’s commitment to reinforce GCG within the Company is shown, among others, by the preparation of the Code of Corporate Governance and Code of Conduct, and establishing internal audit unit and Committees working under supervision of the Board of Commissioners. In implementing GCG, ICON considers the existing laws and regulations, best practice, and corporate culture. To ensure that GCG implementation runs smoothly and gains support from all elements within the Company, ICON sets some GCG implementation stages, starting from preparation, implementation, up to evaluation stage.

• Code of Corporate Governance As a joint commitment on the GCG implementation, ICON has

formulated a Code of Corporate Governance. The Code serves as a basis for Shareholders, Boards of Commissioners and Directors, and others related to GCG process in preparing policies that inspire the Company’s business practices without neglecting laws, regulations and ethics. ICON’s Code of Corporate Governance covers various aspects, such as Corporate Governance policies, Governance guidelines for Company organs, principles and objectives, Company’s management structure, and transparency policy.

• Company Regulation ICON’s Company Regulation has been legalized by the Badung

Kabupatan Local Government Agency of Social Welfare and Labour No. 128 of 2013 on the Ratification of the Company's Regulations of PT Island Concepts Indonesia Tbk dated October 10, 2013 with effect from the date of October 10, 2013 to October 9, 2015. In general, the Company Regulation includes the rights and obligations both of employees and of the Company, and rules that aim to establish harmonious, synchronized and balanced relations in its endeavor to increase efficiency, productivity and optimum performance.

• Code of Conduct ICON’s Code of Conduct has been legalized by the Board of

Directors Decision. ICON requires all management and staff to understand the Code of Conduct as a basis of conduct that regulates the relationship between employees and the Company, with other employees, customers, suppliers, shareholders, the government and the public.

- The Relationship between Employees and the Company, governs the employment status, employee’s confidentiality, discipline at work, appearance and dress code, being drug and alcohol free at the workplace, avoidance of conflict of interest, personal investment in the Company, submission of information to the public and media relations, activities outside

di luar Perseroan, kegiatan dan kontribusi politik dan keagamaan, penanganan dan pengamanan informasi, pelaporan informasi, perlindungan terhadap hak cipta karyawan, keselamatan dan kesehatan kerja, serta pelaporan atas potensi pelanggaran maupun yang nyata.

- Hubungan Sesama Karyawan, mengatur perlakuan dan pengambilan keputusan yang adil, lingkungan kerja yang bebas dari pelecehan dan kerjasama antar karyawan.

- Hubungan dengan Konsumen, mengatur pelayanan kepada konsumen serta penerimaan dan pemberian hadiah dan hiburan.

- Hubungan dengan Pemasok, mengatur penggunaan jasa pihak ketiga atau agen, perlakuan terhadap pemasok dan larangan penerimaan kompensasi (suap), serta kepatuhan pemasok terhadap Pedoman Perilaku.

- Hubungan dengan Pemegang Saham, mengatur perlindungan dan penggunaan yang tepat atas asset Perseroan, serta keakuratan pembukuan dan laporan Perseroan.

- Hubungan dengan Pemerintah, mengatur kepatuhan terhadap ketentuan/peraturan terkait, serta pembayaran pajak dan retribusi.

- Hubungan dengan Masyarakat mengatur pelayanan masyarakat, pemberian donasi, dan kesadaran akan kelestarian lingkungan alam.

the Company, political and religious activities and contributions, handling and securing of information, information report, protection of an employee’s creativity rights, work safety and health, and report of potential and real violation.

- Relationship with Other Employees, governs fair treatment and decision making, a harrasment-free working environment, and cooperation between employees.

- Relationship with Customers, governs services to customers, and reception and acceptance of gifts and entertainment.

- Relationship with Suppliers, governs the use of third party services or agents, treatment of suppliers and prohibition from accepting compensation (bribes), and supplier’s obedience towards the Code of Conduct.

- Relationship with Shareholders, governs the protection and proper usage of Company assets, and accuracy of the Company’s recording and reports.

- Relationship with the Government, governs adherence towards related rules/regulations, and payment of tax and fees.

- Relationship with the Community governs public services, donations, and awareness towards environmental preservation.

• Whistler Blower Policy Untuk mendukung implementasi Pedoman Perilaku, ICON

memberikan perlindungan terhadap saksi pelapor (whistler blower policy). Penanganan terhadap tindak penyimpangan Pedoman Perilaku dilakukan melalui penyelidikan yang mendalam dan didasari fakta-fakta, sedangkan keputusannya dibuat dan diberikan berdasarkan pertimbangan akibat tindakan dan derajat kesengajaan dan motif tindakan.

Berdasarkan pertimbangan yang cermat dan obyektif, Direksi atau Dewan Komisaris memutuskan jenis sanksi yang disesuaikan dengan bobot penyimpangan dan hirarki organisasi (pangkat atau jabatan karyawan). Sanksi kepada karyawan dapat berbentuk teguran lisan, Surat Peringatan (I, II, III), tidak diberikan kenaikan gaji, pangkat atau bonus, hingga pemutusan hubungan kerja (PHK). Khusus untuk PHK, setelah mendapatkan persetujuan CEO/Direksi, dilanjutkan dengan pengajuan permohonan ijin sesuai UU RI tentang Ketenagakerjaan.

• Standar Prosedur Operasional ICON memiliki Standar Prosedur Operasional yang memastikan

bahwa seluruh kegiatan operasional di lingkungan ICON berjalan sesuai ketentuan yang telah ditetapkan. Standar ini juga berfungsi sebagai salah satu acuan dalam proses audit yang dilakukan terhadap Perseroan. Beberapa standar prosedur operasional yang diterapkan di ICON dan anak perusahaan.

• Whistler Blower Policy To support implementation of the Code of Conduct, ICON gives

protection to reporting witnesses (whistler blower policy). Code of Conduct violation handling is carried out through a thorough investigation and is based on facts, while decisions are made and given after considering the consequences, degree of intention and motive.

Based on careful and objective consideration, the Board of Directors or Board of Commissioners decides the type of sanction, which will be adjusted to the degree of seriousness of the violation and position within the organizational hierarchy (employee’s title or position). Employee sanctions may take the form of a verbal warning, Warning Letter (I, II, III), no increase in salary and position or bonus, up to termination of employment. Termination of employment, in particular upon approval from the CEO/Board of Directors, will be followed by a submission of request for permission as stipulated by the Republic of Indonesia Manpower Law.

• Standard Operating Procedure ICON has a Standard Operating Procedure guaranteeing that all

operational activities in ICON run according to the directives that have been set. This standard also functions as one of the bases in the audit process of the Company. Some of the standard operating procedures implemented at ICON and subsidiaries.

32 Tata Kelola Perusahaan | Corporate Governance

Page 19: ANNUAL REPORT ICON 2015 - PURWARUPA

Tata Kelola Perusahaan | Corporate Governance 3534 Tata Kelola Perusahaan | Corporate Governance

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Komitmen ICON dalam menegakkan GCG di lingkungan Perseroan antara lain ditunjukkan dengan menyusun Panduan Tata Kelola Perusahaan (Code of Corporate Governance), Pedoman Perilaku (Code of Conduct), serta membentuk satuan kerja audit internal dan komite-komite yang bekerja dibawah pengawasan Dewan Komisaris. Dalam pelaksanaan GCG, ICON memperhatikan peraturan perundang -undangan yang berlaku, best practice, dan budaya perusahaan. Agar penerapan GCG dapat berjalan dengan lancar dan mendapatkan dukungan dari seluruh unsur di dalam Perseroan, ICON menetapkan tahapan-tahapan penerapan GCG, mulai dari tahap persiapan, implementasi hingga evaluasi.

• Panduan Pelaksanaan Tata Kelola Perusahaan Sebagai wujud komitmen bersama atas penerapan GCG, ICON

menyusun Panduan Pelaksanaan Tata Kelola Perusahaan (Code of Corporate Governance). Panduan ini merupakan landasan bagi Pemegang Saham, Dewan Komisaris, Direksi dan organ lain terkait proses GCG dalam menyusun berbagai kebijakan yang menjiwai praktik bisnis perusahaan tanpa mengabaikan peraturan perundang-undangan dan nilai-nilai etika.

Panduan Pelaksanaan Tata Kelola Perusahaan ICON mencakup berbagai aspek, antara lain kebijakan Tata Kelola Perusahaan, pedoman Tata Kelola bagi organorgan Perseroan, prinsip-prinsip dan tujuan, struktur pengelolaan Perseroan, serta kebijakan transparansi.

• Peraturan Perusahaan Peraturan Perusahaan ICON telah disahkan oleh Pemerintah

Daerah Kabupatan Badung Dinas Sosial dan Tenaga Kerja Nomor 128 tahun 2013 tentang Pengesahan Peraturan Perusahaan PT Island Concepts Indonesia Tbk tertanggal 10 Oktober 2013 yang berlaku sejak tanggal 10 Oktober 2013 sampai dengan 9 Oktober 2015. Secara umum, Peraturan Perusahaan ini memuat hak dan kewajiban karyawan dan Perusahaan, serta ketentuan yang bertujuan membina hubungan serasi, selaras, dan seimbang dalam usaha meningkatkan efisiensi, produktivitas dan prestasi kerja yang optimal.

• Pedoman Perilaku Pedoman Perilaku ICON telah disahkan melalui Surat Keputusan

Direksi. ICON mewajibkan seluruh manajemen dan staf untuk memahami Pedoman Perilaku ini sebagai dasar penerapan perilaku yang mengatur hubungan antara karyawan dengan perusahaan, sesama karyawan, konsumen, pemasok, pemegang saham, pemerintah dan masyarakat.

- Hubungan Karyawan dengan Perusahaan, mengatur mengenai status kepegawaian, kerahasiaan karyawan, disiplin waktu kerja, penampilan dan cara berpakaian, bebas narkoba dan alkohol di tempat kerja, menghindari benturan kepentingan, investasi pribadi karyawan di Perseroan, penyampaian informasi kepada publik dan hubungan dengan media, kegiatan

ICON’s commitment to reinforce GCG within the Company is shown, among others, by the preparation of the Code of Corporate Governance and Code of Conduct, and establishing internal audit unit and Committees working under supervision of the Board of Commissioners. In implementing GCG, ICON considers the existing laws and regulations, best practice, and corporate culture. To ensure that GCG implementation runs smoothly and gains support from all elements within the Company, ICON sets some GCG implementation stages, starting from preparation, implementation, up to evaluation stage.

• Code of Corporate Governance As a joint commitment on the GCG implementation, ICON has

formulated a Code of Corporate Governance. The Code serves as a basis for Shareholders, Boards of Commissioners and Directors, and others related to GCG process in preparing policies that inspire the Company’s business practices without neglecting laws, regulations and ethics. ICON’s Code of Corporate Governance covers various aspects, such as Corporate Governance policies, Governance guidelines for Company organs, principles and objectives, Company’s management structure, and transparency policy.

• Company Regulation ICON’s Company Regulation has been legalized by the Badung

Kabupatan Local Government Agency of Social Welfare and Labour No. 128 of 2013 on the Ratification of the Company's Regulations of PT Island Concepts Indonesia Tbk dated October 10, 2013 with effect from the date of October 10, 2013 to October 9, 2015. In general, the Company Regulation includes the rights and obligations both of employees and of the Company, and rules that aim to establish harmonious, synchronized and balanced relations in its endeavor to increase efficiency, productivity and optimum performance.

• Code of Conduct ICON’s Code of Conduct has been legalized by the Board of

Directors Decision. ICON requires all management and staff to understand the Code of Conduct as a basis of conduct that regulates the relationship between employees and the Company, with other employees, customers, suppliers, shareholders, the government and the public.

- The Relationship between Employees and the Company, governs the employment status, employee’s confidentiality, discipline at work, appearance and dress code, being drug and alcohol free at the workplace, avoidance of conflict of interest, personal investment in the Company, submission of information to the public and media relations, activities outside

di luar Perseroan, kegiatan dan kontribusi politik dan keagamaan, penanganan dan pengamanan informasi, pelaporan informasi, perlindungan terhadap hak cipta karyawan, keselamatan dan kesehatan kerja, serta pelaporan atas potensi pelanggaran maupun yang nyata.

- Hubungan Sesama Karyawan, mengatur perlakuan dan pengambilan keputusan yang adil, lingkungan kerja yang bebas dari pelecehan dan kerjasama antar karyawan.

- Hubungan dengan Konsumen, mengatur pelayanan kepada konsumen serta penerimaan dan pemberian hadiah dan hiburan.

- Hubungan dengan Pemasok, mengatur penggunaan jasa pihak ketiga atau agen, perlakuan terhadap pemasok dan larangan penerimaan kompensasi (suap), serta kepatuhan pemasok terhadap Pedoman Perilaku.

- Hubungan dengan Pemegang Saham, mengatur perlindungan dan penggunaan yang tepat atas asset Perseroan, serta keakuratan pembukuan dan laporan Perseroan.

- Hubungan dengan Pemerintah, mengatur kepatuhan terhadap ketentuan/peraturan terkait, serta pembayaran pajak dan retribusi.

- Hubungan dengan Masyarakat mengatur pelayanan masyarakat, pemberian donasi, dan kesadaran akan kelestarian lingkungan alam.

the Company, political and religious activities and contributions, handling and securing of information, information report, protection of an employee’s creativity rights, work safety and health, and report of potential and real violation.

- Relationship with Other Employees, governs fair treatment and decision making, a harrasment-free working environment, and cooperation between employees.

- Relationship with Customers, governs services to customers, and reception and acceptance of gifts and entertainment.

- Relationship with Suppliers, governs the use of third party services or agents, treatment of suppliers and prohibition from accepting compensation (bribes), and supplier’s obedience towards the Code of Conduct.

- Relationship with Shareholders, governs the protection and proper usage of Company assets, and accuracy of the Company’s recording and reports.

- Relationship with the Government, governs adherence towards related rules/regulations, and payment of tax and fees.

- Relationship with the Community governs public services, donations, and awareness towards environmental preservation.

• Whistler Blower Policy Untuk mendukung implementasi Pedoman Perilaku, ICON

memberikan perlindungan terhadap saksi pelapor (whistler blower policy). Penanganan terhadap tindak penyimpangan Pedoman Perilaku dilakukan melalui penyelidikan yang mendalam dan didasari fakta-fakta, sedangkan keputusannya dibuat dan diberikan berdasarkan pertimbangan akibat tindakan dan derajat kesengajaan dan motif tindakan.

Berdasarkan pertimbangan yang cermat dan obyektif, Direksi atau Dewan Komisaris memutuskan jenis sanksi yang disesuaikan dengan bobot penyimpangan dan hirarki organisasi (pangkat atau jabatan karyawan). Sanksi kepada karyawan dapat berbentuk teguran lisan, Surat Peringatan (I, II, III), tidak diberikan kenaikan gaji, pangkat atau bonus, hingga pemutusan hubungan kerja (PHK). Khusus untuk PHK, setelah mendapatkan persetujuan CEO/Direksi, dilanjutkan dengan pengajuan permohonan ijin sesuai UU RI tentang Ketenagakerjaan.

• Standar Prosedur Operasional ICON memiliki Standar Prosedur Operasional yang memastikan

bahwa seluruh kegiatan operasional di lingkungan ICON berjalan sesuai ketentuan yang telah ditetapkan. Standar ini juga berfungsi sebagai salah satu acuan dalam proses audit yang dilakukan terhadap Perseroan. Beberapa standar prosedur operasional yang diterapkan di ICON dan anak perusahaan.

• Whistler Blower Policy To support implementation of the Code of Conduct, ICON gives

protection to reporting witnesses (whistler blower policy). Code of Conduct violation handling is carried out through a thorough investigation and is based on facts, while decisions are made and given after considering the consequences, degree of intention and motive.

Based on careful and objective consideration, the Board of Directors or Board of Commissioners decides the type of sanction, which will be adjusted to the degree of seriousness of the violation and position within the organizational hierarchy (employee’s title or position). Employee sanctions may take the form of a verbal warning, Warning Letter (I, II, III), no increase in salary and position or bonus, up to termination of employment. Termination of employment, in particular upon approval from the CEO/Board of Directors, will be followed by a submission of request for permission as stipulated by the Republic of Indonesia Manpower Law.

• Standard Operating Procedure ICON has a Standard Operating Procedure guaranteeing that all

operational activities in ICON run according to the directives that have been set. This standard also functions as one of the bases in the audit process of the Company. Some of the standard operating procedures implemented at ICON and subsidiaries.

Page 20: ANNUAL REPORT ICON 2015 - PURWARUPA

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

RUPS merupakan organ perusahaan yang memegang kekuasaan dan wewenang tertinggi. Kewenangan RUPS antara lain mengangkat dan memberhentikan anggota Dewan Komisaris dan Direksi, mengevaluasi kinerja Dewan Komisaris dan Direksi, menyetujui perubahan Anggaran Dasar, menyetujui laporan tahunan dan menetapkan bentuk dan jumlah remunerasi anggota Dewan Komisaris dan Direksi.

Selama tahun 2015, ICON menyelenggarakan 1 (satu) kali Rapat Umum Pemegang Saham Tahunan (RUPST) tanggal 8 Juni 2015.

GMS represents the corporate entity that holds the highest power and authority. GMS is authorized, among others, to appoint and dismiss members of BOC and BOD, to evaluate the performance of BOC and BOD, to approve amendments of the Articles of Association, to approve annual reports, and to decide the remuneration form and figures of members of BOC and BOD.

During 2015, ICON conducted 1 (one) Annual General Meeting of Shareholders (AGMS) on June 8th 2015.

Dewan Komisaris ICON terdiri dari 3 (tiga) anggota, yaitu: 1 (satu) Presiden Komisaris, 1 (satu) Komisaris, dan 1 (satu) Komisaris Independen yang diangkat oleh RUPS, dengan masa jabatan masing-masing 5 (lima) tahun per periode dan dapat diangkat kembali sesuai keputusan RUPS.

Selama tahun 2015, Dewan Komisaris menyelenggarakan 3 (tiga) kali rapat Dewan Komisaris dan 3 (tiga) kali rapat gabungan dengan Direksi, dimana tingkat kehadiran anggota Dewan Komisaris tidak kurang dari 2/3 (dua per tiga) jumlah anggota Dewan Komisaris.

The Board of Commissioners of ICON comprises of 3 (three) members, i.e. 1 (one) President Commissioner, 1 (one) Commissioner, and 1 (one) Independent Commissioner who are appointed by the General Meeting of Shareholders, with tenure of 5 (five) years and may be re-elected based on GMS decision.

During 2015, the Board of Commissioners held 3 (three) meetings and 3 (three) joint meeting with Board of Director, where the presence of members of the Board of Commissioners not less than 2/3 (two thirds) of the members of the Board of Commissioners.

Dewan Direksi bertanggungjawab atas pengelolaan Perseroan melalui pengelolaan risiko dan pelaksanaan GCG pada seluruh jenjang organisasi. Tanggung jawab Direksi juga mencakup penerapan struktur pengendalian internal, pelaksanaan fungsi audit internal, dan pengambilan tindakan berdasarkan temuan-temuan Audit Internal sesuai dengan arahan Dewan Komisaris. Direksi wajib menyusun strategi bisnis, termasuk rencana kerja dan anggaran serta pelaksanaan praktek akuntansi dan pembukuan sesuai ketentuan perusahaan publik. Selain itu, Direksi juga wajib mempertanggungjawabkan pelaksanaan tugasnya kepada pemegang saham melalui RUPS.

Direksi ICON terdiri dari 4 (empat) orang, yaitu 1 (satu) Presiden Direktur dan 3 (tiga) Direktur, yang masing-masing berperan dan bertangungjawab atas Operasional, Investasi dan Pengembangan Usaha. Seluruh anggota Direksi berdomisili di Indonesia.

Sepanjang tahun 2015, Direksi menyelenggarakan 6 (enam) kali rapat dan 3 (tiga) kali rapat gabungan dengan Dewan Komisaris,

The Board of Directors is responsible for the management of the Company through proper risk management and GCG covering all levels of the organization. The Directors are also responsible for the implementation of an internal control structure and internal audit function, and taking actions based on Internal Audit findings as directed by the Board of Commissioners. The Board of Directors is responsible for the structuring of business strategies, including the program and budget plans and implementation of accounting and bookkeeping practices according to the public company regulations. In addition, the Directors are also accountable for their performance to the shareholders through GMS.

ICON’s Board of Directors comprises 4 (four) persons; 1 (one) President Director and 3 (three) Directors, each of which conduct the role and been responsible for Operations, Investment and Business Development. All Directors reside in Indonesia.

During 2014, the Board of Directors held 6 (six) meetings and 3 (three) joint meeting with Board of Commissioner, where the

Struktur Tata Kelola ICON terdiri dari Rapat Umum Pemegang Saham, Dewan Komisaris, Direksi, Audit Internal, komite-komite yang membantu Dewan Komisaris, serta Sekretaris Perusahaan.

ICON’s Corporate Governance structure comprises the General Meeting of Shareholders, Board of Commissioners and Directors, Internal Audit, committees assisting the Board of Commissioners, and Corporate Secretary.

Struktur Tata Kelola Perusahaan | Corporate Governance Structure

1. Rapat Umum Pemegang Saham (RUPS) | General Meeting of Shareholders (GMS)

3. Direksi | Board of Director

Dewan Komisaris bertanggungjawab mengawasi manajemen operasional ICON yang dilaksanakan oleh Direksi, sesuai dengan ketentuan yang ditetapkan dalam Anggaran Dasar, Keputusan RUPS Perseroan, peraturan serta undang-undang yang berlaku, serta memberikan nasihat kepada Direksi apabila diperlukan.

Dewan Komisaris berperan penting dalam melaksanakan prinsip-prinsip GCG melalui fungsi pengawasan yang dilakukan. Melalui laporan Direksi dan komite-komite, Dewan Komisaris memantau dan mengevaluasi pelaksanaan seluruh kebijakan strategis Perseroan. Selama tahun 2015, Dewan Komisaris tidak menemukan pelanggaran hukum dan peraturan di sektor keuangan dan properti.

The Board of Commissioners is responsible for supervising ICON’s operational management carried on by the Board of Directors, as governed by the Articles of Association, AGM decisions, and existing law and regulation, and provides advice for the Board of Directors when necessary.

The Board of Commissioners has a key role in implementing GCG principles through its supervisory function. Based on the reports from the Board of Directors and committees, they monitor and evaluate the implementation of the Company’s strategic policies. Throughout 2014, the Board of Commissioners did not find any violation to the law and regulations in finance and property sector.

2. Dewan Komisaris | Board of Commissioner

Tata Kelola Perusahaan | Corporate Governance 3736 Tata Kelola Perusahaan | Corporate Governance

dimana tingkat kehadiran anggota Direksi tidak kurang dari 2/3 (dua per tiga) jumlah anggota Direksi.

Para pemegang saham menilai kinerja Dewan Komisaris dan Direksi pada RUPS Tahunan. Kinerja Direksi, baik secara perorangan maupun keseluruhan, dievaluasi oleh Dewan Komisaris melalui rapat bersama Dewan Komisaris dan Direksi.

Dalam kapasitas Komite Nominasi dan Remunerasi, Dewan Komisaris telah menjalankan prosedur penetapan remunerasi anggota Direksi dan telah dituangkan dalam Surat Keputusan Dewan Komisaris.

presence of members of the Board of Directors not less than 2/3 (two thirds) of the members of the Board of Directors.

The Shareholders appraise the performance of the Boards of Commissioners and Directors at the Annual GMS. Performance of BOD, both individually and as an entirety, is evaluated by BOC at a Board of Commissioners and Directors Joint Meeting.

In the capacity of the Nomination and Remuneration Committee, the Board has run the procedure and the determination of the remuneration of members of BOD has been set forth in the Decree of BOC.

Page 21: ANNUAL REPORT ICON 2015 - PURWARUPA

Dewan Direksi bertanggungjawab atas pengelolaan Perseroan melalui pengelolaan risiko dan pelaksanaan GCG pada seluruh jenjang organisasi. Tanggung jawab Direksi juga mencakup penerapan struktur pengendalian internal, pelaksanaan fungsi audit internal, dan pengambilan tindakan berdasarkan temuan-temuan Audit Internal sesuai dengan arahan Dewan Komisaris. Direksi wajib menyusun strategi bisnis, termasuk rencana kerja dan anggaran serta pelaksanaan praktek akuntansi dan pembukuan sesuai ketentuan perusahaan publik. Selain itu, Direksi juga wajib mempertanggungjawabkan pelaksanaan tugasnya kepada pemegang saham melalui RUPS.

Direksi ICON terdiri dari 4 (empat) orang, yaitu 1 (satu) Presiden Direktur dan 3 (tiga) Direktur, yang masing-masing berperan dan bertangungjawab atas Operasional, Investasi dan Pengembangan Usaha. Seluruh anggota Direksi berdomisili di Indonesia.

Sepanjang tahun 2015, Direksi menyelenggarakan 6 (enam) kali rapat dan 3 (tiga) kali rapat gabungan dengan Dewan Komisaris,

The Board of Directors is responsible for the management of the Company through proper risk management and GCG covering all levels of the organization. The Directors are also responsible for the implementation of an internal control structure and internal audit function, and taking actions based on Internal Audit findings as directed by the Board of Commissioners. The Board of Directors is responsible for the structuring of business strategies, including the program and budget plans and implementation of accounting and bookkeeping practices according to the public company regulations. In addition, the Directors are also accountable for their performance to the shareholders through GMS.

ICON’s Board of Directors comprises 4 (four) persons; 1 (one) President Director and 3 (three) Directors, each of which conduct the role and been responsible for Operations, Investment and Business Development. All Directors reside in Indonesia.

During 2014, the Board of Directors held 6 (six) meetings and 3 (three) joint meeting with Board of Commissioner, where the

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Tata Kelola Perusahaan | Corporate Governance 3938 Tata Kelola Perusahaan | Corporate Governance

dimana tingkat kehadiran anggota Direksi tidak kurang dari 2/3 (dua per tiga) jumlah anggota Direksi.

Para pemegang saham menilai kinerja Dewan Komisaris dan Direksi pada RUPS Tahunan. Kinerja Direksi, baik secara perorangan maupun keseluruhan, dievaluasi oleh Dewan Komisaris melalui rapat bersama Dewan Komisaris dan Direksi.

Dalam kapasitas Komite Nominasi dan Remunerasi, Dewan Komisaris telah menjalankan prosedur penetapan remunerasi anggota Direksi dan telah dituangkan dalam Surat Keputusan Dewan Komisaris.

presence of members of the Board of Directors not less than 2/3 (two thirds) of the members of the Board of Directors.

The Shareholders appraise the performance of the Boards of Commissioners and Directors at the Annual GMS. Performance of BOD, both individually and as an entirety, is evaluated by BOC at a Board of Commissioners and Directors Joint Meeting.

In the capacity of the Nomination and Remuneration Committee, the Board has run the procedure and the determination of the remuneration of members of BOD has been set forth in the Decree of BOC.

Perseroan telah memiliki Komite Audit maupun Pedoman Pelaksa-naan Kerja Komite Audit sebagaimana dimaksud dalam Peraturan Bapepam-LK No. IX.1.5 Lampiran Keputusan Ketua Bapepam & LK No. Kep-643/BU2012 Tanggal 7 November 2012 tentang Pembentukan dan Pedoman Pelaksanaan Kerja Komite Audit tanggal 7 Desember 2012. Berdasarkan Surat Keputusan Dewan Komisaris Perseroan Tanggal 30 September 2013, masa jabatan Komite Audit Perseroan adalah 5 tahun. Berdasarkan Surat Keputusan Dewan Komisaris No. 01-24/ICON/IX/2014 tanggal 24 September 2014 tentang Perubahan Anggota Komite Audit Perseroan, susunan anggota Komite Audit Perseroan adalah sebagai berikut:

1. Rifwaldi Rivai M. Noer – Ketua KA / Head of AC (profil dapat dilihat pada Komisaris Independen)

2. Tony R. Silitonga – Anggota KA / Member of AC Warga Negara Indonesia, 52 tahun, meraih gelar Master in

Business Administration di bidang Keuangan dari Columbia Business School USA dan Master in Business Management dari Asian Institute Of Management (AIM), Makati, Philippines pada tahun 1997. Sarjana Teknik Perminyakan dari Institut Teknologi Bandung, Bandung pada tahun 1987. Bekerja di IBM-ITB Computer Science & Informaton Center, Bandung (1985-1987) jabatan terakhir Asisten Manajer, ARCO Oil & Gas Company, Jakarta (1987-1995) sebagai Senior Drilling Engineer, Standard Chartered Bank, Makati, Philippines (1996-1997) sebagai Special Advisor to SVP, China Development Industrial Bank-CDIB, Taiwan (1997-2000) sebagai Direktur Invesment Bank SINO Philippines, Badan Penyehatan Perbankan (BPPN) (2000-2004) dan Indonesian Institute for Corporate Directorship (IICD) (2004 - Sekarang). Konsultan Bank DUnia untuk SPIP BPKP (2011-2012). Team Member OJK dalam desain "Indonesian GCG Road Map" (2013). Dosen tamu di berbagai Universitas di Indonesia a.l.: MM UI, MM IPB, MM UGM, MM Brawijaya, MM UPH, MM Atma Jaya, MM SGU, MM Sahid, MM Ciputra, MM IBII, MM Tarumanegara.

3. Cynthia Afriani – Anggota KA / Member of AC Warga Negara Indonesia, 41 tahun, mendapatkan gelar Master

of Science (1999) dan Ph.D (2006) dari Graduate School of Management, Fakultas Ekonomi Universitas Indonesia (FEUI).; dan Sarjana Manajemen (1996) dari Program Ekstensi Fakultas Ekonomi Universitas Indonesia (FEUI). Dia adalah Kepala Manajemen Research Centre di Graduate School of Management FEUI dari 2008 hingga 2009. Saat ini, dia adalah seorang peneliti di FEUI dan anggota Senat Akademik Universitas Indonesia. Dia juga dosen di Sarjana serta Master di FEUI. Daerahnya kepentingan

The Company has an Audit Committee and the Audit Committee Guidelines referred to in Bapepam-LK No. IX.1.5 Attachment Decision of the Chairman Bapepam & LK No. Kep-643 / BU2012 November 7, 2012 on the Establishment and Guidelines for the Implementation of the Audit Committee of December 7, 2012. Based on the decision of the Board of Commissioners of September 30, 2013, the tenure of the Audit committee is 5 years. Under Decree No. BOC 01-24/ICON/IX/2014 dated 24 September 2014 on the Amendment of the Audit Committee members, the members of the Audit Committee are as follows:

(profiles can be seen in the Independent Commissioner)

Indonesian citizen, 52 years old, holds a Master in Business Administration in Finance from Columbia Business School, USA and a Master in Business Management from the Asian Institute of Management (AIM), Makati, Philippines in 1997. Degree in Petroleum Engineering from Bandung Institute of Technology, Bandung in 1987. Working in IBM-ITB Computer Science & Informaton Center, London (1985-1987) last position was Assistant Manager, ARCO Oil & Gas Company, Jakarta (1987-1995) as a Senior Drilling Engineer, Standard Chartered Bank, Makati, Philippines (1996-1997) as a Special Advisor to the SVP, China Development Industrial Bank-CDIB, Taiwan (1997-2000) as Director of SINO Philippines Investment Bank, Bank Restructuring Agency (IBRA) (2000-2004) and the Indonesian Institute for Corporate Directorship ( IICD) (2004 - Present). World Bank consultant for SPIP BPKP (2011-2012). Team Member FSA in the design of "Indonesian GCG Road Map" (2013). Guest lecturer at various universities in Indonesia al: MM UI, IPB MM, MM UGM, MM UB, UPH MM, MM Atma Jaya, MM SGU, Sahid MM, MM Ciputra, IBII MM, MM Tarumanegara.

Indonesian citizen, 41 years old, earned her Master of Science (1999) and Ph.D (2006) from Graduate School of Management, Faculty of Economics University of Indonesia (FEUI); and Bache-lor of Management (1996) from Extension Program of Faculty of Economics University of Indonesia (FEUI). She was a Head of Management Research Centre at Graduate School of Management FEUI from 2008 until 2009. Currently, she is a research fellow at FEUI and member of Academic Senate, University of Indonesia. She is also a lecturer at Bachelor Degree as well as Master Degree at FEUI. Her area of interest includes investment in

termasuk investasi di pasar modal, keuangan perusahaan, dan tata kelola perusahaan. Dia telah menulis sejumlah artikel dan makalah dan telah disajikan karya penelitiannya dalam konferensi / seminar internasional serta nasional.

Perseroan memiliki Piagam Komite audit yang telah disetujui oleh Presiden Komisaris dan Ketua Komite Audit pada tanggal 30 September 2013.

KA bertanggung jawab memberikan rekomendasi kepada Dewan Komisaris atas laporan yang diberikan oleh Direksi, melakukan identifikasi aspek-aspek yang memerlukan perhatian dari Dewan Komisaris serta melaksanakan tugas-tugas lainnya yang berkaitan dengan tugas-tugas Dewan Komisaris, seperti diuraikan sebagai berikut: a. Melakukan penelaahan atas informasi keuangan yang akan

dikeluarkan perusahaan seperti laporan keuangan, proyeksi, dan informasi keuangan lainnya;

b. Melakukan penelaahan atas ketaatan Perseroan terhadap peraturan perundangan-undangan di bidang Pasar Modal dan peraturan perundangan-undangan lainnya yang berhubungan dengan kegiatan Perseroan;

c. Melakukan penelaahan atas pelaksanaan pemeriksaan oleh Auditor Internal;

d. Melaporkan kepada Dewan Komisaris berbagai risiko yang dihadapi Perseroan dan implementasi manajemen risiko oleh Direksi;

e. Melakukan penelaahan dan melaporkan kepada Dewan Komisaris atas pengaduan yang berkaitan dengan emiten atau perusahaan publik; dan

f. Menjaga kerahasiaan dokumen, data dan informasi Perseroan.g. Mengembangkan dan melaksanakan pola Audit Internal dan

rencana tahunan.h. Pengujian dan mengevaluasi pelaksanaan pengendalian

internal dan system manajemen risiko sesuai dengan kebijakan Perusahaan

i. Melakukan pemeriksaan dan penilaian terhadap efisiensi dan efektivitas di bidang keuangan & akuntansi, operasional, sumber daya manusia, penjualan & pemasaran, teknologi informasi dan kegiatan lainnya membentuk bisnis Perseroan.

j. Untuk menguji kepatuhan terhadap peraturan dan perundang-undangan yang terkait dengan operasi Perseroan dan daftar dari sekuritas di Bursa Efek Indonesia.

k. Memberikan saran untuk peningkatan dan informasi yang obyektif tentang pelaksanaan kegiatan di semua tingkat manajemen.

l. Membuat laporan audit dan menyampaikan laporan kepada Presiden Direktur dan Dewan Komisaris.

m. Mengawasi, menganalisa dan melaporkan pelaksanaan tindak lanjut perubahan, perbaikan yang telah diusulkan.

n. Mengembangkan program untuk mengevaluasi kualitas kegiatan Audit Internal yang dilakukan.

o. Melakukan pemeriksaan khusus kapan dan dimana saja diperlukan.

Sepanjang tahun 2015, KA telah melakukan 3 (tiga) kali rapat dan dihadiri tidak kurang dari 2/3 (dua per tiga) jumlah anggota KA.

capital market, corporate finance, and corporate governance. She has authored a number of articles and papers and has presented her research works in international as well as national conference/seminars.

The Company has an audit committee charter that has been approved by the President Commissioner and the Chairman of the Audit Committee on September 30, 2013.

The AC is responsible for providing recommendations to the Board of Commissioners on reports given by the Board of Directors, identifying aspects that require attention from the Board of Commissioners and performing other duties relevant to those of the Board of Commissioners outlined below:

a. Analyze financial information published by the Company, such as financial reports, project-related financial reports and other financial data.

b. Analyze the Company’s observation of existing Capital Market regulations and other laws and directives relevant to corporate business activities.

c. Examine inspection activities conducted by Internal Auditor.d. Report to the Board of Commissioners on various corporate

risks and on the implementation of risk management by the Board of Directors.

e. Conduct examination and report on any complaint relevant to the listed company’s or public listing queries.

f. Maintain confidentiality of the Company’s internal documents and information.

g. Develop and implement a plan of Internal Audit and annual plan.h. Testing and evaluating the implementation of the internal

control and risk management system in accordance with Company policy

i. Inspection and assessment of the efficiency and effectiveness of finance & accounting, operations, human resources, sales and marketing, information technology and other activities forming the Company's business.

j. To test compliance with the rules and regulations relating to the Company's operations and the list of securities in Indonesia Stock Exchange.

k. Provide suggestions for improvement and objective information about the implementation of activities at all levels of management.

l. Creating an audit report and submit a report to the President and Board of Commissioners.

m. Monitor, analyze and report the implementation of changes, improvements have been proposed.

n. Develop a program to evaluate the quality of internal audit activities being carried out.

o. Conduct special inspections when and wherever needed.

During 2015, the AC has conducted three (3) meetings and attended by no less than 2/3 (two thirds) the number of members of the AC.

4. Komite Audit (KA) | Audit Committee (AC)

Page 22: ANNUAL REPORT ICON 2015 - PURWARUPA

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

Tata Kelola Perusahaan | Corporate Governance 4140 Tata Kelola Perusahaan | Corporate Governance

Direksi sebagai Organ Perusahan yang bertanggungjawab atas pengurusan Perusahaan wajib memastikan bahwa fungsi pengendalian internal dan manajemen risiko diterapkan semua aspek perusahaan. Sistem pengendalian internal ini dilakukan melalui Divisi Aaudit Internal yang bertanggung jawab langsung kepada Presiden Direktur. Untuk memantau terlaksananya system pengendalian internal maka Direksi melakukan review atas implementasi sistem pengendalian internal yang dilakukan Divisi Audit Internal.Divisi Risk Management berfungsi sebagai penyusun dan reviewer setiap kebijakan investasi Perseroan, serta memberikan persetujuan dan arahan proses pengelolaan dan penanganan risiko. Divisi ini juga merupakan sarana untuk mengidentifikasi sumber dari risiko dan ketidakpastian serta memperkirakan dampak yang ditimbulkannya. Manajemen Risiko yang efektif merupakan usaha untuk meminimalisasi risiko tersebut serta merupakan salah satu bagian dari implementasi tata kelola perusahaan yang baik.

Pada saat ini, manajemen Perseroan sedang memperbaharui Surat Keputusan mengenai Kebijakan Manajemen Risiko sehingga nantinya setiap kebijakan investasi yang bersifat material dan strategis dapat terintegrasi pada satu pintu, serta menimbulkan kesadaran mengenai pentingnya konsep manajamen risiko yang berkelanjutan.

Company's Board of Directors as an organ responsible for managing the Company shall ensure that the functions of internal control and risk management applied to all aspects of the company. The system of internal control is done through the Division of Internal Aaudit directly responsible to the President. To monitor the implementation of the internal control system, the Board of Directors to review the implementation of the internal control system that performed the Internal Audit Division.Risk Management Division serves as a reviewer of each constituent and the Company's investment policy, as well as giving consent and direction of the management and risk management. This division is also a means to identify the sources of risk and uncertainty and estimate their impact. Effective Risk Management is an attempt to minimize these risks and is one part of the implementation of good corporate governance.

At this time, the Company's management is updating the Decree on Risk Management Policy that will each investment policy and strategic material can be integrated in the door, and raises awareness of the importance of the concept of sustainable risk management.

The structure and role of the Nomination and Remuneration Committee for 2015 is still not established by the Company. In accordance FSA Regulation No. 34/2014, the Company continues to apply the procedure Nomination and Remuneration Committee which is run by the Board of Commissioners.

Struktur dan peranan Komite Nominasi dan Remunerasi hingga tahun 2015 masih belum dibentuk oleh Perusahaan. Sesuai Peraturan OJK No. 34/2014, Perusahaan tetap menerapkan prosedur Nominasi dan Remunerasi yang dijalankan oleh Dewan Komisaris.

5. Komite Nominasi & Remunerasi | Remuneration & Nomination Committee

The Company’s Corporate Secretary is appointed by and answers directly to the President Director. Yusea Eka Prasetya was the Corporate Secretary in fiscal year 2014.

Yusea Eka Prasetya joined the Company since February 2014. Previously, he served as Project Officer & Branch Manager at PT Jimbaran Hijau since 2009 until today.

The duties and responsibilities of the Corporate Secretary are as follows: a. Following the development of capital markets in particular rules

applicable in the capital market;b. Providing services to the public for any information needed by

investors relating to the condition of the Company;

c. Provide input to the Board of Directors to comply with the provisions of Law No. 8 of 1995 on the Capital Market and its implementing regulations;

d. As a liaison or contact person between the Company with the FSA and the community.

Sekretaris Perusahaan diangkat dan bertanggung jawab langsung kepada Direktur Utama. Selama tahun 2015, Sekretaris Perusahaan dijabat oleh Yusea Eka Prasetya.

Yusea Eka Prasetya bergabung dengan Perusahaan sejak Februari 2014. Sebelumnya, beliau menjabat sebagai Project Officer & Branch Manager di PT Jimbaran Hijau sejak tahun 2009 hingga saat ini.

Tugas dan tanggung Jawab Sekretaris Perusahaan adalah sebagai berikut:a. Mengikuti perkembangan Pasar Modal khususnya peraturan

-peraturan yang berlaku di bidang Pasar Modal;b. Memberikan pelayanan kepada masyarakat atas setiap

informasi yang dibutuhkan pemodal yang berkaitan dengan kondisi Perseroan;

c. Memberikan masukan kepada Direksi Perseroan untuk mematuhi ketentuan Undang-undang nomor 8 tahun 1995 tentang Pasar Modal dan peraturan pelaksanaannya;

d. Sebagai penghubung atau contact person antara Perseroan dengan OJK dan masyarakat.

6. Sekretaris Perusahaan | Corporate Secretary

Internal control on financial reports is a process that is designed under the supervision of the President Director and the Finance Director and conducted by the Directors, the Management and other personnel to provide assurance on the reliability of the financial statements and the formulation of consolidated financial statements for external purposes in conformity with the generally accepted accounting principles.

In accordance with Bapepam & LK No. IX.1.7 on the Establishment and Guidelines for The Preparation of an Internal Audit Charter, the Company has established an Internal Audit Unit with the Decree on the Appointment of the Head of Internal Audit PT. Island Concepts Indonesia Tbk dated October 8, 2013. The Internal Audit Unit is led by the Chief of the Internal Audit unit I Made Putrayasa.

Pengendalian Internal atas pelaporan keuangan adalah suatu proses yang dirancang di bawah pengawasan Presiden Direktur dan Direktur Keuangan dan dilakukan oleh Direksi, manajemen, dan personil lainnya untuk memberikan keyakinan mengenai keandalan pelaporan keuangan dan penyusunan laporan keuangan konsolidasi untuk keperluan eksternal sesuai dengan prinsip akuntansi yang berlaku umum.

Sesuai dengan Peraturan Bapepam & LK No. IX.1.7 tentang Pembentukan dan Pedoman Penyusunan Piagam Unit Audit Internal, Perseroan telah membentuk Unit Audit Internal dengan dasar hukum penunjukkan Surat Keputusan Pengangkatan Kepala Unit Audit Internal PT. Island Concepts Indonesia Tbk tanggal 8 Oktober 2013, dimana Unit Audit Internal Perseroan dipimpin oleh Kepala Unit Audit Internal yaitu I Made Putrayasa.

7. Unit Audit Internal | Internal Audit Unit

Based on the Company’s policy, all employees from all levels shall adhere to the highes standard of Code of Ethics and work for the interest of the Company, its employees, and the surrounding community. The Code of Ethics also governs relationship with external parties, conflict of interest and information disclosure to the public.

Corporate culture is a reference for both the Company in conducting business and in managing the Company, including:

i. Being a company that is honest and being a role model in how to run a business that is healthy, strong and fair.

Berdasarkan kebijakan Perusahaan, seluruh karyawan dari semua tingkatan, bekerja sesuai etika tertinggi dan berkarya untuk kepentingan perusahaan, karyawan, dan masyarakat sekitar. Kode etik ini mencakup diantaranya hubungan dengan pihak eksternal, konflik kepentingan, serta penyebaran informasi kepada publik.

Budaya Perusahaan menjadi acuan bagi Perusahaan baik dalam menjalankan bisnis maupun dalam mengelola Perusahaan, yang meliputi:i. Menjadi perusahaan yang jujur dan menjadi panutan dengan

cara menjalankan bisnis yang sehat, kuat dan adil.

10. Kode Etik & Budaya Perusahaan | The Code of Ethics & Corporate Culture

During 2015, ICON and its subsidiaries face a judge actions not important.

Selama 2015, ICON maupun anak perusahaannya tidak menghadapi perkara-perkara penting.

8. Perkara Penting | Important Matters

9. Sistem Pengendalian Internal dan Manajemen Risiko | Internal Control and Risk Management

Page 23: ANNUAL REPORT ICON 2015 - PURWARUPA

PT ISLAND CONCEPTS INDONESIA Tbk. ANNUAL REPORT 2015

42 Tata Kelola Perusahaan | Corporate Governance

Based on the AGMS held on 8 June 2015 that granted the Board of Commissioners with authority to appoint a Public Accounting Firm registered in the Indonesia Financial Services Authority to audit the consolidated financial statements of the Company, the Board of Commissioners appointed Jimmy Budhi & Rekan Public Accounting Firm to audit the Company’s consolidated financial statements for the financial year ending on 31 December 2015.

Berdasarkan keputusan RUPS Tahunan tanggal 8 Juni 2015 yang memberikan wewenang kepada Dewan Komisaris untuk menunjuk Kantor Akuntan Publik yang terdaftar di Otoritas Jasa Keuangan untuk mengaudit laporan keuangan Perusahaan tahun buku yang berakhir pada tanggal 31 Desember 2015 maka Dewan Komisaris telah menunjuk Kantor Akuntan Publik Jimmy Budhi & Rekan, untuk mengaudit laporan keuangan konsolidasian Perusahaan untuk tahun buku yang berakhir pada tanggal 31 Desember 2015.

11. Akuntan Publik | Public Accounting Firm

The well being of the Community and environment have become our Commitment. The Company’s business expansion goes hand-in-hand with our concern for the community’s economic growth and quality of life enhancements. We continuously ensure that our business operations not only include economic but also social aspects and environmental protection that positively impact the Company and stakeholders alike.

Along with the celebration of Earth Day 2015, the Company contributed through sponsorship support of the event “Mari Berkebun & Panen 2015” held by PT Jimbaran Hijau together all stakeholders in the area of Jimbaran, one of which is a subsidiary of PT Bhumi Lestari Makmur.

Companies also realize that the key to run the company properly should be accompanied by good industrial relations between the company and the entire Human Resources (HR) therein. To that end, the Company seeks to fulfill its obligations, among others:

a. Fulfill the rights and obligations of employees and workers in accordance with the legislation and regulations applicable company;

b. Guaranteeing health and safety as a top priority;

c. Fulfill any obligations of the Company to employees and workers in accordance with the agreement that has been agreed;

d. Applying the employee payroll system and a performance -based workers;

e. Improve the competence and knowledge of employees and workers through training programs;

f. Providing employment guarantee facilities and health care; and

g. Guaranteeing freedom of association and the right to express opinions.

The construction project of 113 villas and 126 condotel units in Jimbaran undertaken by subsidiary PT Bhumi Lestari Makmur, is also contributing in empowering local communities by recruiting labor from the community around the project site.

Wujud kepedulian kepada masyarakat dan lingkungan menjadi komitmen dan tanggung jawab Perusahaan. Fokus Perusahaan untuk mengembangkan bisnis berbanding lurus dengan kepedulian terhadap pertumbuhan ekonomi masyarakat dengan turut meningkatkan kualitas hidup. Perusahaan senantiasa memastikan kelangsungan bisnisnya tidak hanya mencakup aspek-aspek perekonomian, tetapi juga mencakup aspek sosial dan pelestarian lingkungan hidup yang membawa manfaat baik bagi Perusahaan maupun bagi para pemangku kepentingan masyarakat luas.

Bersamaan dengan perayaan Hari Bumi 2015, Perusahaan turut berkontribusi melalui dukungan sponsorship sebesar dalam acara “Mari Berkebun & Panen 2015” yang diadakan oleh PT Jimbaran Hijau bersama segenap pemangku kepentingan di kawasan Jimbaran, dimana salah satunya adalah anak perusahaan PT Bhumi Lestari Makmur.

Perusahaan juga menyadari kunci untuk menjalankan perusahaan dengan baik harus diiringi dengan hubungan industrial yang baik antara perusahaan dan seluruh Sumber Daya Manusia (SDM) didalamnya. Untuk itu, Perusahaan berusaha memenuhi kewajibannya, antara lain:a. Memenuhi hak serta kewajiban karyawan dan pekerja sesuai

dengan perundangundangan dan peraturan perusahaan yang berlaku;

b. Memberikan jaminan kesehatan dan keselamatan kerja sebagai prioritas utama;

c. Memenuhi setiap kewajiban Perusahaan kepada karyawan & pekerja sesuai dengan Perjanjian yang telah disepakati;

d. Menerapkan sistem penggajian karyawan & pekerja berbasis kinerja;

e. Meningkatkan kompetensi dan pengetahuan karyawan & pekerja melalui program pelatihan;

f. Memberikan fasilitas jaminan ketenagakerjaan dan kesehatan kerja; dan

g. Menjamin kebebasan berserikat dan hak menyatakan pendapat.

Proyek pembangunan 113 unit villa dan 126 unit kondotel di Jimbaran yang dilakukan oleh anak perusahaan PT Bhumi Lestari Makmur, juga turut berkontribusi dalam memberdayakan masyarakat lokal dengan merekrut tenaga kerja dari masyarakat sekitar lokasi proyek.

12. Tanggung Jawab Sosial Perusahaan | Corporate Social Responsibility

ii. Run or manage the Company's business with regard to principles of business ethics and legislation in force.

iii. Running the principles of good corporate governance and care to the people, culture and the environment.

ii. Menjalankan atau mengelola bisnis Perusahaan dengan memperhatikan prinsip etika bisnis dan Peraturan perundangan yang berlaku.

iii. Menjalankan prinsip-prinsip tata kelola Perusahaan yang baik dan peduli kepada masyarakat, budaya dan lingkungan hidup.