ALMI Financial Report 2016 (Audited) PDF

2016
LAPORAN TAHUNAN
Annual
REPORT
PT Alumindo Light Metal Industry Tbk
PT Alumindo Lightt Metal Industry Tbk
Contents | Daftar Isi
02 27
Ikhtisar Keuangan
dan Informasi Saham
Financial and Stock Tata Kelola Perusahaan
Highlight Corporate Governance
03 44
Tanggung Jawab Sosial
Laporan Dewan Komisaris Perusahaan
Report by The Board Corporate Social
of Commissioners Responsibility
06 Laporan Direksi
Report by The Board
of Directors 46 Pernyataan atas Laporan Tahunan
Statement on The Annual Report
09 Profil Perseroan
Company Profile 47 Laporan Keuangan Tahun 2016
2016 Audited Financial Report
20
Analisis dan Pembahasan
Manajemen
Management Discussion
and Analysis
02 Annual Report | Laporan Tahunan 2016
Ikhtisar Keuangan dan Informasi Saham

financial and stock highlight
Ikhtisar Keuangan | (dalam jutaan Rupiah) 2014 2015 2016 Financial Highlights | (in million Rupiah)
Pendapatan / Nilai Penjualan 3.336.088 3.333.330 2.461.800 Revenue / Sales Amount

Laba Kotor 166.008 67.375 63.085 Gross Income
Laba Periode Berjalan 3.664 (53.614) (99.932) Income (Loss) For the Period
Pendapatan Komprehensif lain (12.326) 4.115 (67.371) Other Comprehensive Income (Loss)
Jumlah Laba (Rugi) Komprehensif (8.661) (49.499) (167.303) Total Comprehensive Income (Loss)
Jumlah Laba (Rugi) Komprehensif Total Comprehensive Income (Loss)
diatribusikan kepada: attributable to:
Pemilik EnƟtas Induk - (8.661) (49.499) (167.303) - Parent Entity
KepenƟngan Non-Pengendali - - - - - Non-controlling Interest
Laba per Saham Dasar (dalam Rupiah) 5.95 (87.04) (162.23) Basic Earning (Loss) per Share (in Rupiah)
Aset Lancar 2.428.213 1.370.784 1.424.711 Current Assets
Jumlah Aset 3.217.114 2.189.038 2.153.031 Total Assets
Liabilitas Lancar 2.370.051 1.520.673 1.667.249 Current Liabilities
Liabilitas Tidak Lancar 232.453 103.253 82.087 Non-current Liabilities
Jumlah Liabilitas 2.602.504 1.623.927 1.749.336 Total Liabilities
Jumlah Ekuitas 614.610 565.111 403.694 Total Equity
Rasio Keuangan Financial Ratio
Rasio Laba terhadap Jumlah Aset 0,1% -2,4% -4,6% Return on Assets
Rasio Laba terhadap Ekuitas 0,6% -9,5% -24,8% Return on Equity
Rasio Laba terhadap Pendapatan 0,1% -1,6% -4,1% Net Profit Margin
Rasio Lancar 102,5% 90,1% 85,5% Current Ratio
Rasio Liabilitas terhadap Ekuitas 423,4% 287,4% 433,3% Debt to Equity Ratio
Rasio Liabilitas terhadap Jumlah Aset 80,9% 74,2% 81,2% Debt to Total Assets Ratio
Perdagangan Saham per Kuartal / Quarterly Share Trading

Informasi Saham Data Perdagangan Saham | Share Trading Data Share Information
Q1 Q2 Q3 Q4
2015
KuanƟtas (saham) 2.865.300 6.512.600 3.757.100 1.519.800 Volume (shares)
Nilai (Rp 000) 697.817 1.519.542 858.268 315.633 Amount (Rp 000)
Harga TerƟnggi (Rp) 275 266 275 221 Highest Price (Rp)
Harga Terendah (Rp) 236 201 193 182 Lowest Price (Rp)
Harga Akhir (Rp) 255 248 213 198 Closing Price (Rp)
Jumlah Saham (saham) 616.000.000 616.000.000 616.000.000 616.000.000 Total Share (shares)
Kapitalisasi Pasar (Rp 000) 157.080.000 152.768.000 131.208.000 121.968.000 Market Capitalization (Rp 000)
Q1 Q2 Q3 Q4
2016
KuanƟtas (saham) 5.922.800 8.515.800 7.359.800 629.600 Volume (shares)
Nilai (Rp 000) 1.137.071 1.542.278 1.367.569 113.910 Amount (Rp 000)
Harga TerƟnggi (Rp) 223 200 208 226 Highest Price (Rp)
Harga Terendah (Rp) 182 172 173 172 Lowest Price (Rp)
Harga Akhir (Rp) 183 178 180 183 Closing Price (Rp)
Jumlah Saham (saham) 616.000.000 616.000.000 616.000.000 616.000.000 Total Share (shares)
Kapitalisasi Pasar (Rp 000) 112.728.000 109.648.000 110.880.000 112.728.000 Market Capitalization (Rp 000)
Kode Saham ALMI Code of Stock

Aksi Korporasi di tahun 2014 Pemecahan Saham | Stock Split Corporate Action in 2014
Tanggal EfekƟf Aksi Korporasi 12 February 2014 Effective Date of Corporate Action
Rasio Pemecahan Saham 1:2 Stock Split Ratio
Harga Nominal Saham Sebelum Aksi Korporasi Rp 500 per saham | shares Nominal Share Price before Corporate Action
Harga Nominal Saham Sesudah Aksi Korporasi Rp 250 per saham | shares Nominal Share Price after Corporate Action
Jumlah Saham Sebelum Aksi Korporasi 308.000.000 saham | shares Total Shares Before Corporate Action
Jumlah Saham Sesudah Aksi Korporasi 616.000.000 saham | shares Total Shares After Corporate Action
Nama Bursa Efek Bursa Efek Indonesia Name of Stock Exchange
Indonesia Stock Exchange
Annual Report | Laporan Tahunan 2016 03
laporan dewan komisaris

Report by the Board of Commissioners
Para Pemangku Kepentingan Yang Terhormat
Tahun 2016 telah menjadi tahun yang penuh tantangan bagi

Perseroan, di mana penjualan Peseroan mengalami
penurunan baik dalam kuantitas dan Rupiah, dan berdampak
pada tingkat profitabilitas Perseroan, sehingga masih sangat
tertekan. Secara ringkas, volume penjualan mengalami
penurunan sebesar 19.8% dan penjualan dalam Rupiah turun
sebesar 26.4% dibanding tahun lalu. Target belum tercapai
karena kondisi perekonomian global yang berkepanjangan
dan harga komoditas masih tertekan, meskipun telah
mengalami peningkatan di akhir tahun.
Terlepas dari peningkatan kinerja yang konsisten dari kuartal

ke kuartal selama tahun 2016, yang terlihat dari mengecilnya
penurunan volume dan jumlah penjualan dibanding dengan
kinerja yang sama di tahun 2015, Perseroan perlu meninjau
ulang seluruh proses bisnis agar dapat memberikan nilai
tambah terhadap pemegang saham dan seluruh pemangku
kepentingan.
Meskipun demikian, patut dicatat, bahwa Perseroan telah

mencatat kenaikan penjualan yang baik di kuartal keempat di
tahun 2016, di mana volume penjualan naik 8.8% dibanding
Dear Our Valued Stakeholders
The year 2016 was another challenging year for the Company
whereby it booked lower sales volume as well as lower sales
revenue ă impacting its profitability which remained under
pressure. In summary, the Company sales volume dropped by
19.8 percent and sales revenues reduced by 26.4 percent
over the previous yearÊs figures.
CompanyÊs target was not yet achieved due to prolonged
global economic condition and depressed commodity price,
despite an improving siituation in the last quarter.
Despite consistent improving quarterly performance last year

ă marked by narrowing drop in sales volume and revenues
over 2015Ês same quarter ă the Company needs to review its
entire business process in order to deliver value to the
shareholders and all stakeholders.
Notably, the Company booked a strong fourth quarter

whereby sales volume was 8.8 percent more than the same

kuartal yang sama tahun lalu dan jumlah penjualan juga lebih period last year, and sales revenue was also higher by 3.7
tinggi 3.7%. Kami berharap momentum pemulihan ini dapat percent. We are hopeful that this revival momentum could be
dipertahankan. maintained.
Pandangan Terhadap Prospek Usaha View on Business Outlook by Directors

Secara umum, Dewan Komisaris menilai bahwa prospek In general, the Board of Commissioners evaluated that the
usaha yang disusun oleh Direksi telah memadai dan business outlook prepared by the Directors is sufficient and
dirancang dengan baik, dengan memperhatikan kondisi well prepared, already has taken into acount external
eksternal, termasuk kondisi perekonomian dunia dan condition, including the economy of the world and the US as
Amerika Serikat sebagai pangsa utama Perseroan. main market of the Company.
Hal ini sejalan dengan semakin terbukanya pasar dunia dan This is in line with the increasingly open global markets and
tingginya tingkat kompetisi industri aluminium di dunia. high level of competition in the world aluminum industry.
Karena semakin luasnya arena bisnis global ini, Perseroan Because of the vast arena of global business, the Company
harus bisa memberikan yang terbaik untuk para pemegang should be able to give the best for the shareholders and other
saham dan pemangku kepentingan yang lain, dan dengan stakeholders , and faster respond to every change in global
lebih cepat menyikapi setiap perubahan kondisi global, conditions, to prevent any impairment on CompanyÊs
sehingga kinerja tidak terganggu sekalipun ada tekanan performance, eventhough there is pressure on aluminum
terhadap harga maupun pasar aluminium di dunia. price and market in the world.
Kami memandang pentingnya diversifikasi pasar dari We view the importance of market diversification of the
Perseroan yang selama ini sangat tergantung pada pasar Company which so far has been heavily dependent on the US
Amerika Serikat, dan diharapkan Perseroan juga dapat market, and it is expected the Company could also develop
mengembangkan pasar domestik Indonesia, karena kami domestic market in Indonesia, as we view that becoming one
memandang Perseoan sebagai salah satu Perusahaan yang of the Company which can compete in the global market, it
mampu bersaing di pasar global, tetap harus eksis di pasar must also exist in the local market and faces competition from
lokal dan menghadapi kompetitor dari China dengan lebih China with more synergy with other domestic players.
bersinergi dengan pemain domestik lainnya.
Kami percaya, dengan berkonsentrasi pada bisnisnya dan We believe, by concentrating on the business, and
dengan mengedepankan pelayanan pada konsumen emphasizing the quality of services to consumers, which
diantaranya dengan menjaga ketepatan pengiriman produk, among of these are by maintaining the quality of product
efisiensi produksi, dan strategi penjualan yang gigih, delivery, production efficiency, and persistent sales strategy,
Perseroan dapat tetap menjadi yang terdepan dalam industri the Company would remain the leading player in the domestic
di dalam negeri, dan menjadi pemain yang diperhitungkan di industry, and a reckoned player in the export market.
luar negeri.
Dewan Komisaris sangat mendorong Direksi Perseroan Board of Commissioners strongly urges the Directors to
untuk menerapkan strategi dan tolak ukur yang lebih effectively introduce yielding measures and implement
berorientasi pada hasil dan juga langkah perbaikan di tahun corrective actions in 2017 so that the Company may re-post a
2017 agar Perseroan dapat kembali membukukan laba net profit.
bersih.
Penerapan Tata Kelola Perusahaan Corporate governance Implementation

Perseroan telah berusaha mengedepankan nilai-nilai utama The Company has endeavoured to promote the basic values
Tata Kelola Perusahaan yang baik seperti transparansi, of Good Corporate Governance; transparency, accountability,
akuntabilitas, tanggung jawab, independensi, dan kewajaran. responsibility, independency, and fairness.
Selama tahun 2016, Dewan Komisaris menilai bahwa In 2016, Board of Commissioners evaluated that that the
manajemen Perseroan terus berusaha meningkatkan CompanyÊs management is mindful of improving its good
pelaksanaan Tata Kelola di seluruh aspek yang ada sesuai corporate governance in all aspects of the company in line
dengan anggaran dasar Perseroan dan selaras dengan with its Arctiles of Association and development of applicable
perkembangan Peraturan yang berlaku, dan tahun lalu telah prevailing laws, and past year has been marked with a
dilalui dengan catatan pelaksanaan Tata kelola yang baik. relatively well governance records.

Kami juga mengapresiasi kinerja Komite Audit sepanjang We also would like to extend our appreciation to the Audit
tahun 2016. Komite Audit telah melakukan berbagai kegiatan Committee performance in 2016. The Audit Committee has
yang membantu Dewan Komisaris dalam mengambil conducted a variety of activities to assist the Board in making
keputusan dan memberikan rekomendasi kepada Direksi, decisions and provide recommendations to the Directors, inter
antara lain dengan memberikan rekomendasi mengenai alia, recommendations on appointment of public accounting
penunjukkan Kantor Akuntan Publik, menelaah adanya firm, examines the potential conflict of interest, the evaluation
potensi benturan kepentingan, melakukan evaluasi atas of the risk management system and internal control systems.
sistem manajemen risiko dan sistem pengendalian internal.
Selama tahun 2016, tidak ada perubahan komposisi Dewan During 2016, there was no change on Board of
Komisaris. Commissioners composition.
Apresiasi Appreciation
Pada kesempatan ini, Dewan Komisaris memberikan On this occassion, the Board of Comissioners would like to
apresiasi kepada seluruh pemangku kepentingan Perseroan extend appreciation to all stakeholders of the Company for
yang senantiasa mendukung Perseroan, and juga kepada their continued support, and also to all employees and
seluruh jajaran karyawan dan Direksi yang telah bekerja Directors of the Company who have worked hard and offered
keras dan memberikan pengabdian yang terbaik dalam the best services in facing serious challenges during the 2016.
menghadapi tantangan yang sangat berat di sepanjang tahun We expect an improving commitment toward performance and
2016. Kami berharap komitmen terhadap kinerja dan masa future of the Company.
depan Perseroan dapat terus dtingkatkan.
Kami berharap tahun 2017 menjadi tahun yang penuh We hope the year of 2017 would become a year full of
kesuksesan. success.
Surabaya, April 2017

Atas nama Dewan Komisaris
On behalf of the Board of Commissioners
Angkasa Rachmawati
Komisaris Utama
President Commissioner
laporan direksi
Directors’ Report
Kinerja tahun 2016 dan Kebijakan Strategis 2016 Performance and Strategic policies
Perseroan masih mengalami kondisi persaingan global yang In 2016, the Company still experienced intense global
semakin intens di tahun 2016, dan juga lesunya perekonomian competition and also the sluggish of US economy as the main
Amerika Serikat sebagai pasar utama Perseroan. Keadaan ini market of the Company. Due to this condition, the Company
mengakibatkan tidak tercapainya target penjualan dan laba did not achive its sales target and booked a net loss. Total
bersih dari perusahaan. Penjualan total mengalami penurunan sales decreased 19.4% and most negatively affected is the
volume sebesar 19,4% dan yang paling terimbas secara negatif export volume, decreased from 73,098 tons in 2015 to 53,125
adalah volume penjualan ekspor yang turun dari 73.098 ton di tons in 2016. Local sales increase slightly by 3.3% amounting
tahun 2015 menjadi 53.125 ton di tahun 2016. Meskipun to 26,292 tons. This declining figures caused the Company net
demikian penjualan lokal meningkat sedikit 3,3% menjadi 26.292 loss of Rp 99.9 billion.
ton. Penurunan ini mengakibatkan Perseroan membukukan
kerugian bersih di tahun 2016 sebesar Rp 99,9 milyar.
Di tengah-tengah lemahnya pertumbuhan ekonomi dunia, Amidst world economic slow down in 2016, the company has
sepanjang tahun 2016, Perseroan telah berusaha menerapkan put efforts to reduce its dependency on sinlge export market
beberapa kebijakan strategis untuk mengurangi ketergantungan by implementing some strategic policies. With mid to long term
terhadap pasar ekspor. Dalam jangka waktu menengah sampai time horizon, the Company tried to open export market in
jangka panjang Perseroan berusaha membuka pasar ekspor di other countries, and also to re-build domestic market with
negara-negara lain, dan juga membangun kembali pasar lokal higher value added products. These efforts have shown
dengan produk-produk yang memiliki nilai tambah lebih. Usaha ini encouraging signs. The mangement also has imposed stern
telah menunjukkan hasil yang cukup baik. Manajemen juga measures aiming at cost cutting and de-bottlenecking of our
menerapkan kebijakan efisiensi biaya dan debottlenecking pada production and operation management, thus readying our
sistim produksi dan operasional Perusahaan, sehingga dapat delivery capability as business climate improves
meningkatkan kemampuan perusahaan untuk melakukan
pengiriman produk yang lebih baik saat iklim bisnis telah
membaik.
Kami tetap optimis terhadap kinerja Perseroan di tahun 2017 We remain cautiously optimistic for 2017 as our key export
karena proyeksi ekonomi Indonesia yang lebih baik, dan customers have placed good and firm orders ă thanks to
penjualan kepada pelanggan utama yang meningkat, berkat optimism for the U.S. economy as well as better local
optimisme terhadap ekonomi Amerika Serikat. Kita harapkan economic outlook. We hope this performance improvement
momentum kenaikan kinerja ini dapat dipertahankan selama momentum could be maintained in 2017.
tahun 2017.
laporan direksi
Directors’ Report
Prospek Usaha Business Outlook

Bisnis Perseroan sekalipun telah mengalami tantangan yang Considering the expectation of recovery of commodity and
begitu berat, karena lesunya perekonomian global yang world energy prices in 2017, the company business, albeit
berkepanjangan, tetap memiliki prospek yang baik mengingat experienced tough challenges due to prolonged global
pemulihan harga komoditas dan energi dunia yang mulai ecoonomic slow down, still has good business outlook. This
bergerak naik di tahun 2017. Hal ini selain berpengaruh positif fact not only positively influenced the Company's direct sales
terhadap penjualan Perseroan secara langsung ke pasar to the US market, but also affected the Indonesiann domestic
Amerika Serikat, juga berpengaruh terhadap kondisi economy, which in turn stimulates the local sales performance
perekonomian domestik, yang pada akhirnya menstimulasi of the Company.
kinerja penjualan lokal Perseroan.
Ketergantungan bisnis Perseroan terhadap pasar Amerika Dependence on the United States economy ă being the
Serikat, sebagai pangsa pasar terbesar bagi Perseroan masih largest market for the Company ă continues in 2017. The U.S.
berlanjut di tahun 2017. Sedangkan Pendapatan Riil Domestik economy point towards higher real GDP growth of 2.2 percent
Bruto dari Amerika Serikat (GDP riil) mengalami peningkatan after posting 1.6 percent growth in 2016. - whilst the domestic
menjadi 2.2% di tahun 2017 dari sebelumnya 1.6% di tahun 2016, economy is expected to post a real GDP growth of 5.3 percent
dan perekonomian domestik diperkirakan mengalami vs. 4.9 percent growth last year.
pertumbuhan GDP riil sebesar 5.3% dibanding 4.9% di tahun
2016.
Kami menilai, prospek usaha aluminium lembaran tetap baik, We foresee the business outlook of aluminum flat rolled
dan akan terus berkembang. Dengan kapasitas produksi per products remains good, and will still continue to grow. With an
tahun untuk produk Aluminium sheet sebesar 144.000 ton annual production capacity of aluminium sheet 144,000 tons
dan Aluminium foil 18.000 ton, Alumindo tetap memiliki and aluminum foil 18,000 tons, Alumindo still has great poten-
potensi besar untuk meningkatkan kinerjanya, baik untuk tial to improve its performance, both for the medium term and
jangka menengah maupun jangka panjang, dengan long term, in synergy with other major players in both domestic
bersinergi dengan pemain besar lainnya baik di pasar dalam and overseas market.
negeri maupun luar negeri.
Penerapan Tata Kelola Perusahaan The implementation of Corporate Governance

Perseroan tetap berkomitmen untuk menerapkan The company remains committed to implement the principles
prinsip-prinsip Tata Kelola Perusahaan yang baik (GCG), of Good Corporate Governance (GCG) for the CompanyÊs
untuk kepentingan Perseroan dan juga para pemangku own benefit and all stakeholders. The management believes
kepentingan. Manajemen percaya pelaksanaan GCG akan the implementation of GCG could become good guidelines
dapat menjadi benteng yang baik dalam menghadapi resiko against potential risk and difficulties that would threaten the
dan permasalahan yang dapat mengguncang kinerja performance of the Company.
Perseroan.
Komitmen Perseroan tersebut berawal dari nilai nilai etika This commitment stems from the ethics and culture principles
dan budaya dari para pendiri perusahaan dan menjadi of the company founders which has become the guidance as
pedoman yang dituangkan dalam visi dan misi, kode etik dan outlined in the vision, mission, and code of ethics and culture
budaya perusahaan, serta pedoman pelaksanaan Tata of the company, and also become the guidance on Corporate
Kelola Perusahaan, sehingga fungsi dari setiap elemen Governance implementation, so that the function of every
perusahaan dapat bersikap dan bertindak lebih baik. company elements could behave and act bettter.
Dengan mengedepankan prinsip-prinsip transparansi, By emphasizing on the principles of transparency, accounta-

akuntabilitas, tanggung jawab, kemandirian, dan kewajaran bility, responsibility, independency, and fairnes during 2016,
selama tahun 2016, Alumindo telah melakukan publikasi Alumindo has published the facts required to be known by
terhadap hal-hal yang perlu diketahui publik, diantaranya public, among others are the regular publication of financial
publikasi laporan keuangan secara berkala di media massa, statement of the company in the newspaper, publication of
publikasi dalam rangka melaksanakan RUPS, serta General Shareholder meetingÊs and public expose on 29 June
menyelenggarakan paparan publik pada tanggal 29 Juni 2016 to provide information on the CompanyÊs current
2016 untuk memberikan informasi mengenai kondisi condition to the shareholders and stakeholders. The annual
perusahaan terkini kepada para pemegang saham dan
pemangku kepentingan. Laporan keuangan tahunan
laporan direksi
Directors’ Report
Perseroan diaudit oleh Kantor Akuntan Publik Independen Financial statement of the Company has been audited by an
untuk menjamin independensi dan akuntabilitas Perseroan. Independent Public Accountant to ensure the independency
and accountability of the Company.
Sebagai informasi, pada tahun 2016 tidak ada perubahan For information, in 2016, there was no change on DirectorsÊ
atas komposisi anggota Direksi. composition.
Apresiasi Appreciation
Sebagai akhr kata, mewakili Direksi, kami menyampaikan As final words, representing the Directors, we thank all
ungkapan terima kasih kepada seluruh karyawan dan jajaran employees and the entire management team for their stead-
manajemen Perseroan atas kegigihan dan kerja keras yang fastness and hard work for the Company in saliling through
diberikan kepada Perseroan sehingga dapat mengarungi difficult period in 2016. We also thank and extend appreciation
waktu yang sangat sulit di tahun 2016. Kami juga to all shareholders, Board of Commissioners, customers,
mengucapkan terima kasih dan penghargaan kepada seluruh business partners, for all their trust extended to the company,
pemegang saham, pelanggan, dan mitra bisnis atas and also to the Government of Indonesia which has continu-
kepercayaan yang telah diberikan kepada Perseroan, dan ously worked hard in creating a condusive business climate,
juga kepada Pemerintah Indonesia yang terus bekerja keras allowing the company to run the business better.
dalam penciptaan iklim berbisnis yang kondusif, sehingga
Perseroan dapat menjalankan usahanya dengan lebih baik.
Bersama Kita Bisa ! Together we can!
Surabaya, April 2017

Atas nama Direksi
On behalf of Directors
Alim Markus Ali Mulia

Alim M li Sastra
S t
President Director Managing Director
profil Perseroan
Company Profile
PT Alumindo Light Metal

Industry Tbk
Alamat | Address
Kantor Pusat | Head Office

Jalan Kembang Jepun 38-40
Surabaya 60162 - Indonesia
Kantor Perwakilan | Branch Office

Maspion Plaza, 15-17 Floor
Jalan Gunung Sahari Kav. 18
Jakarta 14420 - Indonesia
Pabrik | Factory
Sawotratap, Gedangan,
Sidoarjo 61254
Indonesia
Telepon | Phone
+62 31 353 1445
+62 31 354 1040
Fax | Facsimile
+62 31 353 3055
+62 31 353 3218
Alamat Elektronik | Email

cs@alumindo.com
Laman | Website
www.alumindo.com
PROFIL PERSEROAN
Company Profile
Sekilas Tentang Alumindo Alumindo At A Glance

PT Alumindo Light Metal Industry Tbk. (Alumindo) didirikan PT Alumindo Light Metal Industry Tbk.(Alumindo) was
pada tahun 1978 di Sidoarjo, Jawa Timur, dan memulai established in 1978 in Sidoarjo, East Java, and started
proses produksi pada permulaan tahun 1983 dengan commercial production in early 1983 with initial production
kapasitas produksi sebesar 12.000 Ton dan 4.800 Ton per capacity of 12,000 Tons per annum and 4,800 Tons per
tahun untuk produk Aluminium Sheet dan Foil. Pada awalnya annum of aluminium sheet and foil. The initial objective was to
Alumindo didirikan guna memasok kebutuhan aluminium produce aluminium sheet to support Maspion GroupÊs
sheet Maspion Group sebagai bahan baku produksi production in consume durable goods, and aluminium foil to
peralatan rumah tangga, dan foil untuk industri kemasan, meet IndonesiaÊs growing demand for packaging market. Now
namun saat ini telah menjadi produsen aluminium lembaran Alumindo has established itself as the biggest flat rolled
terbesar di Indonesia dan Asia Tenggara, dan komposisi aluminium producer not only in Indonesia but also in South
penjualan ke Maspion Group kurang dari 15%. East Asia market with sales to Maspion Group less than 15%.
Sampai saat ini, Alumindo terus berkembang, dan secara Ever since, Alumindo has gradually developed and added
bertahap terus meningkatkan kapasitas produksi, yang production capacity ă currently at 144,000 tons and 18,000
hingga saat ini mencapai 144.000 ton untuk produk tons of sheets and foil respectively. Production facilities are
aluminium sheet dan 18.000 ton untuk aluminium foil. regularly reviewed and refurbished to include newer
Alumindo terus melakukan penambahan serta pembaharuan technology to support production of quality products.
sarana produksi yang mengadopsi teknologi terkini untuk
menunjang kelancaran proses produksi serta menghasilkan
produk-produk berkualitas tinggi.
Kegiatan Usaha Business Activities

Sesuai Anggaran Dasar Perseroan, kegiatan usaha Based on the companyÊs Article of Association, Alumindo
Alumindo adalah dalam bidang perindustrian yang deals with aluminium-based industry, mainly sheet, foil and
berhubungan dengan aluminium, terutama memproduksi other products. Also procuring raw materials, equipment
aluminium sheet, foil dan hasil-hasil lainnya yang related to its production - are sourced locally or imported. The
berhubungan dengan aluminium, membeli bahan-bahan, company distributes its product for both domestic and export
mesin-mesin dan peralatan lain sehubungan dengan usaha market.
yang berkaitan dengan aluminium, baik dalam negeri
maupun impor, serta menjual atau memasarkan hasil
produksinya ke pasar dalam negeri dan luar negeri.
Produk Yang Dihasilkan AlumindoÊs Products

Produk aluminium sheet biasanya digunakan sebagai bahan Aluminium sheet is used for kitchen utensils and household
dasar industri peralatan dapur dan rumah tangga, peralatan products, electrical appliances, transportation and building
listrik, transportasi dan bahan bangunan. Sedangkan materials. Whilst foil is used for packaging materials.
aluminium foil umumnya dipakai untuk kebutuhan bahan
baku kemasan.
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Company Profile
produk almi (ALMI Products):
FLAT ROLLED ALUMINIUM

ALUMINIUM COIL ALUMINIUM FOIL
ALUMINIUM SHEET
ALUMINIUM CIRCLE
ALUMINIUM ROOFING
APLIKASI PRODUK JADI (Product Application):
Air Cargo Container Food Container & Gasmat Pharmaceutical Packaging Cookwares Food Container
Condensor & Finstock Train Reflector Packaging caps

12
Struktur Organisasi
Organization Structure
Company Profile
profil perseroan
RAPAT UMUM PEMEGANG SAHAM

Shareholder’s General MeeƟng
KOMITE AUDIT DEWAN KOMISARIS

Audit CommiƩee Board of Commissioners
UNIT AUDIT INTERNAL DIREKSI SEKRETARIS PERUSAHAAN

Internal Audit Unit Board of Directors Corporate Secretary
Wisnu Cahyono Tan Tjing Kwan Maria ChrisƟana David Sindoro Lanijaya Maria Pramana Melynda Prayogo
Engineering Dept. Maintenance Dept. MarkeƟng Dept. ProducƟon Sheet ProducƟon Foil AccounƟng Dept. Finance Dept.
Annual Report | Laporan Tahunan 2016
profil Perseroan
Company Profile
dewan komisaris | Board of Commissioners
Angkasa Gunardi Go Budiprajogo Supranoto

Rachmawati Warga Negara Indonesia, 92 Limanto Dipokusumo
Warga Negara Indonesia, 87 tahun, bergabung dengan Warga Negara Indonesia, 67 Warga Negara Indonesia, 57
tahun, adalah salah satu kelompok usaha Maspion tahun, memulai karir di tahun, menyelesaikan
pendiri dari Perusahaan dan sejak didirikan pada tahun kelompok usaha Maspion program studi MBA di
kelompok usaha Maspion 1965 dan menjabat sebagai pada tahun 1968 dan University of Toledo, USA
sejak tahun 1962 dan Komisaris Perseroan sejak menjabat berbagai posisi pada tahun 1992, serta pernah
menjabat sebagai Komisaris Perseroan didirikan pada sepanjang karirnya. mengikuti beberapa
Utama Perseroan sejak tahun tahun 1978. Saat ini juga Menduduki jabatan Direktur di course/diploma di Jerman.
2003. Saat ini juga menjabat menduduki berbagai jabatan Perseroan untuk periode Sejak tahun 2001 bergabung
sebagai Komisaris Utama di kelompok usaha Maspion, tahun 2006-2009 dan dengan Perseroan sebagai
dari kelompok usaha terutama bertanggung jawab menjabat sebagai Komisaris Komisaris Independen.
Maspion. Beliau memiliki atas divisi peralatan dapur Independen Perseroan sejak
hubungan afiliasi dengan dari aluminium. Beliau tahun 2009. Indonesian Citizen, 57 years
anggota Direksi dan memiliki hubungan afiliasi old, received his MBA degree
Pemegang Saham utama. dengan anggota Direksi dan Indonesian Citizen, 67 years from the University of Toledo,
Pemegang Saham utama. old, began his career with the USA in 1992 and completed
Indonesian Citizen, 87 years Maspion Group in 1968 and some courses/diploma
old, one of the founders of the Indonesian Citizen, 92 years has since held several programs in Germany. He
Company, joined the Maspion old, joined the Maspion positions within the Group. has been with the Company
Group since its inception in Group since its inception in Appointed as Director of the as Independent
1962 and has served as the 1965 and appointed Company in the period of Commissioner since 2001.
Chair Person of ALMI since Commissioner of the 2006-2009 and as
2003. She currently holds Company since its Independent Commissioner
chairmanship position of the establishment in 1978. He since 2009.
Maspion Group. She is currently holds several board
affiliated with members of positions within the Group
Board of Directors and with primary responsibility for
ultimate Shareholders. aluminium kitchenware
division. He is affiliated with
members of Board of
Directors and ultimate
Shareholders.
Dasar penunjukan Dewan Komisaris Perseroan ini adalah berdasarkan Rapat Umum Pemegang Saham yang diadakan pada tanggal 24
Juni 2014, dengan Berita Acara yang dibuat di hadapan Bambang Heru Djuwito, SH., MH., notaris di Surabaya.
The appointment of the companyÊs Board of Commissioners is based on the ShareholderÊs general meeting, that was held on 24 June 2014
and the deed was made before Bambang Heru Djuwito, SH., MH., a notary in Surabaya.
profil perseroan
Company Profile
dewan direksi | Board of Directors
Alim Markus Alim Mulia Sastra

Warga Negara Indonesia, 65 tahun, Warga Negara Indonesia, 63 tahun,
merupakan salah seorang pendiri menyelesaikan studi bisnisnya di
Perseroan dan telah bergabung Singapura pada tahun 1974 dan
bersama kelompok usaha Maspion memulai karirnya di kelompok usaha
sepanjang jenjang karirnya. Saat ini Maspion pada tahun 1975.
beliau adalah Presiden Direktur Sebelumnya menjabat sebagai
kelompok usaha Maspion dan Direktur Perseroan dari tahun 1980
menjabat sebagai Ketua Indonesia hingga 1995. Saat ini juga
China Business Council (ICBC) dan menduduki berbagai jabatan
menjadi Ketua Asosiasi Pengusaha Komisaris dan Direksi di kelompok
Indonesia (Apindo) Jawa Timur, dan usaha Maspion. Beliau memiliki
jabatan organisasi-organisasi lainnya. hubungan afiliasi dengan anggota
Beliau memiliki hubungan afiliasi Dewan Komisaris dan anggota
dengan anggota Dewan Komisaris Direksi lainnya, serta Pemegang
dan anggota Direksi lainnya, serta Saham utama. Beliau membawahi
Pemegang Saham utama. Beliau bidang operasional Perseroan.
bertugas memimpin jalannya
Perseroan secara keseluruhan. Indonesian Citizen, 63 years old,
completed his business studies in
Indonesian Citizen, 65 years old, one Singapore in 1974 and joined the
of the founders of the Company and Maspion Group in the following year.
has worked for the Maspion Group for He had served as a Director of the
his entire career. Currently he is the Company from 1980 to 1995.
President Director of Maspion Group Currently he also holds several
and serves as the Chairman of Board positions within the Group.
Indonesia China Business Council He is affiliated with members of
(ICBC) and the same position for Board of Commissioners and
Indonesian Businessman Association Directors, as well as with ultimate
(Apindo) East Java chapter. He is Shareholders. He is in charge of the
also involved in many other companyÊs operation.
organizations. He is affiliated with
members of Board of Commissioners
and Directors, as well as with ultimate
Shareholders. He is in charge of
leading role over the entire of the
company in general.
profil Perseroan
Company Profile
dewan direksi | Board of Directors
Alim Prakasa Welly Muliawan, Lie Soefianto Djunaedi

Warga Negara Indonesia, 59 tahun, Warga Negara Indonesia, 56 Warga Negara Indonesia, 47
menyelesaikan studi di St. Mary tahun, menyelesaikan program tahun, menyelesaikan program
University, Kanada. Menjabat sebagai studi MBA di National University studi Mechanical Engineering di
Direktur Perseroan sejak tahun 1981 of Singapore. Memulai karirnya TAFE, Australia pada tahun
dan juga memegang berbagai jabatan di Perseroan sejak tahun 1982 1993. Bergabung dengan
Komisaris dan Direksi dalam dan menjabat sebagai Direktur Perseroan sejak tahun 2001 dan
kelompok usaha Maspion. Beliau Perseroan sejak tahun 1995. ditunjuk sebagai Direktur
memiliki hubungan afiliasi dengan Saat ini juga menjabat sebagai Perseroan sejak tahun 2013.
anggota Dewan Komisaris dan Chief Financial Officer di Beliau membawahi bidang
anggota Direksi lainnya, serta kelompok usaha Maspion. Beliau pemasaran Perseroan.
Pemegang Saham utama. Beliau membawahi bidang keuangan
membawahi bidang operasional dan administrasi Perseroan. Indonesian Citizen, 47 years
Perseroan. old, graduated from TAFE
Indonesian Citizen, 56 years college, Australia, Associate
Indonesian Citizen, 59 years old, old, holds an MBA degree from Diploma of Engineering
graduated from St. Mary University, the National University of (Mechanical) in 1993. He has
Canada. In 1981 he joined the Singapore. His career with joined the company since 2001
Company as Director, and currently ALMI began in 1982 and has and has been appointed as
holds several board positions within served as Director of the Director of the company since
the Maspion Group. He is affiliated Company since 1995. He 2013. He is in charge of the
with members of Board of currently also serves as the marketing department of the
Commissioners and Directors, as well Chief Financial Officer of company.
as with ultimate Shareholders. He is Maspion Group. He is in charge
in charge of the companyÊs operation. of the administration and
finance department of the
company.
Dasar penunjukan Dewan Komisaris Perseroan ini adalah berdasarkan Rapat Umum Pemegang Saham yang diadakan pada tanggal 24
Juni 2014, dengan Berita Acara yang dibuat di hadapan Bambang Heru Djuwito, SH., MH., notaris di Surabaya.
The appointment of the companyÊs Board of Commissioners is based on the ShareholderÊs general meeting, that was held on 24 June 2014
and the deed was made before Bambang Heru Djuwito, SH., MH., a notary in Surabaya.
profil perseroan
Company Profile
Karyawan Dan Pengembangan Kompetensi Employees and Competency Development

Jumlah staf dan karyawan tetap Alumindo pada akhir Total number of Alumindo staff and permanent employees at
tahun 2016 adalah sebanyak 977 orang dengan perincian the year end of 2016 is 977, with following distribution:
sebagai berikut:
Pria Wanita
Male Female
Staf | Staff
227 40
Karyawan | Worker
664 46
Perseroan menyadari pentingnya pengembangan The Company understands the significance of Human
sumber daya manusia dalam kelangsungan operasional Resources development for the Company operational and
dan kinerja Perseroan. Selaras dengan pemikiran performance sustainability. Along this line, the company fully
tersebut, Alumindo memberi dukungan penuh untuk supports initiatives to improve its human resources, starting
mengoptimalkan manajemen sumber daya manusia, from recruitment process, performance evaluation of
mulai dari proses perekrutan, evaluasi kinerja setiap employees done quarterly, including human capital
karyawan yang dilakukan setiap tiga bulan, hingga development through training and seminar. Employee
pengembangan staf dan karyawan melalui program competence development is done both internally and
pelatihan dan seminar. Pengembangan kompetensi externally.This opportunity is given to employees according to
karyawan dilakukan baik internal maupun eksternal. the demands and needs in every business function.
Kesempatan ini diberikan kepada karyawan sesuai
tuntutan dan kebutuhan di setiap fungsi usaha.
Beberapa pelatihan yang diikuti di tahun buku, antara Some of the trainings attended in the fiscal year, are internal
lain pelatihan internal untuk penerapan prosedur ISO training for the implementation of the ISO 9001 procedures
9001 dan training dari Direktorat Jenderal Bea Cukai and training from the Directorate General of Customs on
tentang sosialisasi peraturan dan prosedur ekspor dan export-import rules and procedures that should be complied.
impor barang yang harus dipatuhi. Selain itu, karyawan The employees also attended seminars on economics,
juga menghadiri seminar dalam bidang perekonomian, taxation and accounting rules, and capital market on a regular
sosialisasi peraturan perpajakan dan akuntansi, serta basis, among of these are the socialization and trainings by
Pasar Modal secara rutin. Di antaranya adalah sosialisasi Central Bank of Indonesia, the Indonesia Stock Exchange,
dan pelatihan oleh Bank Indonesia, Kantor Wilayah District Tax Office and the Financial Services Authority (OJK).
Pajak, Bursa Efek Indonesia, dan Otoritas Jasa
Keuangan.
Hubungan kerja dengan karyawan dituangkan di dalam Labor relationship is outlined in the collective labor agreement
kesepakatan kerja bersama yang mengatur governing the welfare, rights and obligations of employees,
kesejahteraan, hak dan kewajiban karyawan,termasuk including fair wages system in line with the government
sistem pengupahan yang adil sesuai dengan ketentuan minimum wage regulatioin.
upah minimum yang ditentukan pemerintah.
Untuk meningkatkan kesejahteraan karyawan, Perseroan To improve the welfare of employees, the Company also
juga menyediakan berbagai sarana seperti asuransi provides various facilities such as health and work insurance,
kesehatan dan tenaga kerja, fasilitas kendaraan, tempat transport facility, places of worship, and employeesÊ canteen.
ibadah, dan kantin karyawan. Perseroan juga The Company also provides the freedom to gather and
profil Perseroan
Company Profile
memberikan kebebasan bagi para karyawan untuk organize to improve the CompanyÊs performance and
berkumpul dan berserikat untuk meningkatkan kinerja employeesÊ social welfare, also as a communication forum
Perseroan dan kesejahteraan sosial karyawan serta sebagai between employees and the management.
forum komunikasi antara karyawan dengan Manajemen.
Sertifikasi Dan Penghargaan Cerrtification and Accolades

Pada bulan Agustus tahun 1998, Alumindo berhasil meraih In August 1998, Alumindo managed to obtain ISO 9002
sertifikasi ISO 9002 dari LloydÊs Register (telah disesuaikan certification from LlyodÊs Register ă then renewed to read ISO
menjadi ISO 9001:2008), yang merupakan pengakuan 9001:2008, as an internatioinal recognition on the Company
internasional terhadap standar kualitas produk Alumindo dan standardization of product quality. Latest certification dated 22
terus dipertahankan hingga saat ini, dengan sertifikat terakhir per July 2016 is valid until 14 September 2018.
tanggal 22 Juli 2016 dan berakhir pada 14 September 2018.
Atas prestasinya dalam kategori eksportir berkinerja, As recognition for the companyÊs export performance,
Alumindo telah tiga kali meraih Primaniyarta Award, yaitu di Alumindo has obtained Primanyarta Award in 2001, 2007, and
tahun 2001, 2007 dan 2010. Penghargaan ini merupakan 2010. This award is a national award on the good export
penghargaan tingkat nasional atas kinerja ekspor yang baik performance from the Government, through the Ministry of
dari Pemerintah Indonesia melalui Kementerian Trade.
Perdagangan.
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Company Profile
lembaga profesi penunjang pasar modal

Capital Market Supporting Institutions / Professionals
Akuntan Publik | Public Accountant Biro Administrasi Efek | Share Registrar
Paul Hadiwinata, Hidajat, Arsono, Achmad, PT Adimitra Jasa Korpora

Suharli & Rekan Kirana Bou que Oﬃce Blok F3 No. 5
(a member firm of PKF Interna onal) Jl. Kirana Avenue III, Kelapa Gading, Jakarta 14250
Jalan Ngagel Jaya 90, Surabaya 60283, Indonesia Phone: +62 21 2974 5222 | Fax: +62 2928 9961
Email: opr@adimitra-jk.co.id
Akuntan Publik diatas ditunjuk sebagai profesi penunjang Biro Administrasi Efek diatas ditunjuk sebagai profesi penunjang
independen untuk melakukan jasa audit laporan keuangan dalam hal administrasi saham dan data para pemegang saham
Perseroan, untuk periode penugasan 2016. Atas jasa tersebut, Perseroan untuk periode penugasan 1 Januari 2016 sampai
Perseroan memberikan kompensasi sesuai surat perikatan audit dengan 31 Desember 2016, Atas jasa tersebut, Perseroan
yang ditandatangani, yaitu sebesar Rp. 240.000.000,- (tidak memberikan penghargaan sebesar Rp. 18.000.000,-
termasuk Pajak Pertambahan Nilai).
The above Public Accountant was appointed as independent The above Share Registrar was appointed as supporting profes-
supporting professional to perform audit services on the financial sional to conduct services in connection with the shareholders data
statements of the Company, with assignment period of 2016. For administration of the Company for the assignment period of
the services, the Company gives its compensation based on the 1 January 2016 until 31 December 2016. For the services,
signed engagement letter, in the amount of Rp. 240,000,000.- the Company provide compensation, at the amount of
excluding Value Added Taxes. IDR. 18,000,000.-
INFORMASI BAGI PEMEGANG SAHAM

Information to Shareholders
Riwayat Pencatatan Saham History of Share Listing

Selaras dengan pertumbuhan Alumindo yang baik dari tahun Resulting from Alumindo yearly sustainable growth, on 2
ke tahun, maka pada tanggal 2 Januari 1997 Alumindo January 1997 Alumindo listed its shares in the Jakarta Stock
mencatatkan sahamnya pada Bursa Efek Jakarta dan Bursa Exchange and Surabaya Stock Exchange (then amalgamat-
Efek Surabaya, yang saat ini telah digabungkan menjadi ed to become Indonesia Stock Exchange). Total number of
Bursa Efek Indonesia. Jumlah saham yang dicatatkan adalah listed shares was 308 million shares.
sebanyak 308.000.000 lembar saham.
On 20 June 2013, the Extraordinary ShareholdersÊ Meeting
Berdasarkan RUPS Luar Biasa pada tanggal 20 Juni 2013 decided to exercise a 1 to 2 stock split, share nominal of
dan surat persetujuan dari Bursa Efek Indonesia, nomor IDR 500.- became IDR 250.- per share, effective on 12
S-00351/BEI.PPR/01-2014 tertanggal 30 Januari 2014, nilai February 2014. The approval from the Indonesia Stock
nominal saham Alumindo dipecah dengan rasio 1:2, menjadi exchange was stated in the letter with reference number
Rp 250 (dua ratus lima puluh rupiah) per saham efektif per S-00351/BEI.PPR/01-2014 dated 30 January 2014. Post this
tanggal 12 Februari 2014. Dengan demikian jumlah saham exercise, the number of shares listed then became 616 million
Alumindo yang dicatatkan di Bursa Efek Indonesia adalah shares.
sebanyak 616.000.000 saham.
Sepanjang tahun 2015 dan 2016, Perseroan tidak melakukan In 2015 and 2016 there were no Corporate Actions.
aksi korporasi.
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Company Profile
STRUKTUR PEMEGANG SAHAM UTAMA DAN PENGENDALI

Ultimate Shareholders Structure
PT HUSIN PT MARINDO PT GUNA PT MULINDO PT PRAKINDO

INVESTAMA INVESTAMA PT MASPION INVESTINDO INVESTAMA INVESTAMA
PT Husin Investama
PT Marindo
Alim Markus Alim Markus Investama
Alim Mulia Sastra SrijanƟ PT Guna InvesƟndo Gunardi Go Alim Mulia Sastra Alim Prakasa
Alim Prakasa Sugiarto PT Mulindo Hadi Sutanto Yuliana SusanƟ Alim Fify Dewi
Investama Adikoesoemo
PT Prakindo
Alim Puspita Fony Alim Investama Susi Hermini Alim Puspita Eka Saputra Alim
PT Maspion Trading Mariany PT Anugerah InggrianiwaƟ Dwiarta Putra Alim

InvesƟndo
PT Husin Inv. Diana Alim PT Alim InvesƟndo

(Treasury stock)
PT Maspion
(Treasury stock)
Komposisi Pemegang Saham

Shareholders ComposiƟon Klasifikasi Pemegang Saham
Shareholder structure based
Nama Pemegang Saham Jumlah Saham %
Shareholders Name Total Shares on ownership :
Kepemilikan Saham 5% atau lebih | Shareholding of 5% or more
Kepemilikan Jumlah
1. PT Husin Investama 228.511.978 37,10% Saham No of %
(Share Ownership) shareholders
2. PT Marindo Investama 93.459.476 15,17%
3. PT Guna InvesƟndo 39.200.000 6,36%
4. PT Prakindo Investama 38.438.704 6,24% InsƟtusi Asing
5. PT Mulindo Investama 36.463.704 5,92% Foreign InsƟtuƟon 28 0.18
6. PT Maspion 35.068.704 5,69% InsƟtusi Lokal
Kepemilikan Saham oleh Anggota Dewan Komisaris dan Direksi Local InsƟtuƟon 29 84.46
Shares owned by Members of Board of Commissioners and Directors Perorangan Asing
Foreign Individual 7 0.16
7. Alim Markus 9.055.000 1,47% Perorangan Lokal
8. Gunardi Go 560.000 0,09% Local Individual 657 15.20
9. Welly Muliawan 342.700 0,06%
10. Budi Prajogo 25.000 0,00% Total 721 100.00
Kepemilikan Saham di bawah 5% | Shareholding less than 5%
11. Masyarakat atau lainnya
134.874.734 21,90%
Public or others
Jumlah Saham secara keseluruhan 616.000.000 100,00%

Total Shares
analisis dan pembahasan manajemen

Management Discussion And Analysis
TINJAUAN OPERASIONAL OPERATIONAL REVIEW
Produksi Production
Proses produksi melalui beberapa tahapan penting, dimulai dari Production process is going through several important stages,
proses peleburan bahan baku aluminium ingot, proses commencing from the process of casting aluminium ingot as
penggilingan hingga menjadi coil, proses penerapan panas untuk raw material, rolling process to become coil, heating process
menetapkan temper dan kandungan mekanik, serta proses to adjust its temper and mechanical substances and finishing
finishing, seperti tension level, cutting, rolling dan blanking. process, such as tension level, cutting, rolling and blanking.
Kapasitas terpasang di pabrik adalah sebesar 144.000 ton untuk The installed capacity in the factory is 144,000 MT for
aluminium sheet dan 18.000 ton untuk aluminium foil. Pada tahun aluminium sheet and 18,000 MT for aluminium foil
2016, utilisasi produksi untuk aluminium sheet dan foil, respectively. In 2016, the production utilization for aluminium
masing-masing sebesar 48,9% dan 70,6%. sheet and foil are 48.9% and 70.6% respectively.
Pendapatan Per Segmen Revenue By Product Type

Komposisi pendapatan per segmen di tahun 2016 adalah In 2016, the revenue comprised of 79.2% from selling
sebesar 79.2% dari penjualan aluminium sheet dan 20.8% aluminium sheet and 20.8% from aluminium foil. Volume-wise,
dari aluminium foil. Secara volume, penjualan aluminium the sales of aluminium sheet and foil is 66,490 MT and 12,927
sheet dan foil adalah sebesar 66.490 MT dan 12.927 MT atau MT or 83.7% and 16.3%
83,7% dan 16,3%.
Profitabilitas Profitablility
Melemahnya perekonomian dunia di tahun 2015 hingga 2016 Sluggish global economics in 2015 continued in 2016. The
masih berlanjut. Akibat hal ini harga aluminium sangat aluminium price has been depressed due to demand crisis
tertekan, karena adanya krisis permintaan dan suplai yang and oversupply, especially from China, and it has continued to
berlebihan, terutama dari negara China, sehingga harga terus decline until 2016. These tough challenges have negatively
menurun sampai tahun 2016. Kondisi yang sangat berat ini impacted the profitability of the company, in first and second
berimbas di kondisi profitabilitas Perseroan hingga kuartal quarter of 2016. In line with the recovery of global market and
pertama dan kedua tahun 2016. Seiring dengan membaiknya wider coverage of export market, the Company started to
pasar dunia dan hubungan dengan para konsumen yang lebih show positive improvement in the third quarter of 2016, but still
luas. Perbaikan mulai tampak di kuartal ketiga, namun masih suffered losses of Rp 99.9 billion by year end. A more
ada kerugian bersih di akhir tahun sebesar Rp 99,9 miliar. sustainable and positive performance improvement is
Perbaikan yang lebih berkesinambungan diharapkan akan expected to be achieved in 2017, and shown by the high
dicapai di tahun 2017 dan menunjukkan hasil kinerja yang orders received by the Company starting the 2nd half of 2016
positif. Hal ini telah ditunjukkan dengan tingginya order yang and continued to 2017.
masuk sejak semester kedua tahun 2016 dan berlanjut
sampai 2017.
KINERJA KEUANGAN KOMPREHENSIF COMPREHENSIVE FINANCIAL PERFORMANCE

Berdasarkan laporan keuangan tahun buku 2016 yang telah According to the 2016 audited financial report, following is the
diaudit, berikut ini disampaikan pula perbandingan kinerja comparison on the financial performance within the latest two
keuangan dalam dua tahun buku terakhir. financial years.
Aset Asset
Aset Lancar naik 3,9% dari Rp 1,37 triliun di tahun 2015 Current asset rose by 3.9% from Rp 1.37 trillion in 2015 to
menjadi Rp 1,42 triliun di tahun 2016 terutama karena Rp 1.42 trillion in 2016 mainly due to the increase in
kenaikan Persediaan sebesar 15,1% dari Rp 729,7 miliar inventories of 15.1% from Rp 729.7 billion to Rp 840.1 billion
menjadi Rp 840,1 miliar di tahun 2016 seiring dengan kenaikan in 2016 in line with the rising raw material prices of the
harga bahan baku dari Perseroan. Company.
Aset tidak lancar turun 11% karena penurunan nilai buku aktiva In the absence of significant fixed asset additions,
tetap dari Rp 792,2 miliar menjadi Rp 701,9 miliar di tahun non-current asset fell by 11% due to lower book value of
2016 karena tidak adanya penambahan aktiva tetap yang fixed asset from Rp 792.2 billion to Rp 701.9 billion in 2016
signifikan.

Total aset di tahun 2016 turun sebesar 1,7%, dari Rp 2,19 Total assets in 2016 fell by 1.7%, from Rp 2.19 trillion last year
triliun di tahun lalu menjadi Rp 2,15 triliun di tahun 2016, to Rp 2.15 trillion in 2016, primarily due to the decrease of
terutama karena penurunan aktiva tetap seperti yang fixed assets as described above.
diuraikan di atas.
Liabilitas Liability
Liabilitas Lancar Perseroan mengalami kenaikan sebesar Current liabilities of the Company increased by 9.6% from Rp
9,6% dari Rp 1,52 triliun menjadi Rp 1,67 triliun di tahun 2016 1.52 trillion to Rp 1.67 trillion in 2016 due short-term bank
karena kenaikan pinjaman bank jangka pendek sebesar loans increase of 26.5% from Rp 512.2 in 2015 to Rp 647.8
26,5% dari Rp 512,2 di tahun 2015 menjadi Rp 647,8 miliar di billion in 2016, to finance the increased purchase orders from
tahun 2016, karena pembiayaan terhadap pesanan yang overseas buyers, especially in the third and fourth quarter of
meningkat dari pelanggan negeri, terutama di kuartal ketiga 2016.
dan keempat tahun 2016.
Liabilitas tidak lancar turun 20,5% dari Rp 103,3 miliar Non-current liabilities fell by 20.5% from Rp 103.3 billion to
menjadi Rp 82,1 miliar di tahun 2016 karena reklasifikasi Rp 82.1 billion in 2016 due to the reclassification of
dari pinjaman porsi jangka panjang menjadi jangka pendek long-term debt to short-term amounting to Rp 33.9 billion, in
sebesar Rp 33,9 miliar sesuai jadwal dari perbankan. Total accordance with the schedule from the banks. The
liabilitas Perseroan mengalami kenaikan dari Rp 1,6 triliun Company's total liabilities increased from Rp 1.6 trillion to Rp
menjadi Rp 1,75 triliun di tahun 2016, karena kenaikan 1.75 trillion in 2016, as a result of the increase in current
liabilitas lancar seperti yang dijelaskan sebelumnya. liabilities as previously explained.
Ekuitas Equity
Nilai Ekuitas 2016 sebesar Rp 403,7 miliar turun sebesar Equity value in 2016 amounted to Rp 403.7 billion, dropped by
28,6% dari angka tahun lalu, karena kerugian yang dialami 28.6% from last year figure, as a resulf of the net losses
Perseroan, kerugian mata uang asing, perubahan dari experienced by the Company, foreign currency losses, tax
manfaat pajak menjadi beban pajak karena keikutsertaan expense part of the effect on tax amnesty program, and
dari Perseroan akan program pengampunan pajak, dan foreign exchange translation of financial statements from profit
selisih kurs penjabaran laporan keuangan dari laba Rp 6,6 of Rp 6.6 billion to losses of Rp 62 billion.,
miliar menjadi rugi Rp 62 miliar.
Pendapatan Revenue:
Secara nilai, penjualan Perseroan turun 26,1% dibanding In value terms, the CompanyÊs revenue declined by 26.1%
tahun lalu, menjadi Rp 2.5 triliiun, sedangkan secara compared to last year figure, became Rp 2.5 trillion, and
kuantitas turun 19,4% dari 96.552 MT menjadi 79.417 MT. quantity wise, it dropped by 19.4% from 96,552 MT to 79,417
Penyebab utama dari kondisi yang kurang kondusif ini adalah MT. The main reason behing this unfavorable situation was
drastisnya penurunan harga produk karena persaingan yang the drastic drop of product price due to intense competition
sangat tinggi, terutama dari China, sehingga Perseroan especially from China, and the company voluntarily received
mengambil keputusan untuk tidak menerima order dalam smaller order quantity to avoid bigger losses. It is expected
jumlah banyak untuk menghindari kerugian yang lebih besar. the CompanyÊs performance shall improve and show positive
Kinerja Perseroan diharapkan membaik dan menunjukkan result in 2017.
hasil yang positif di tahun 2017.
Harga Pokok Penjualan Cost of Good Sold

Harga Pokok Penjualan di tahun 2016 turun sebesar 26,6% Cost of Good Sold in 2016 has declined by 26.6% compared
dibanding tahun sebelumnya, dari Rp 3,3 triliun menjadi Rp to last year figures, from Rp 3.3 trillion to Rp 2.5 trillion, in line
2,5 triliiun, seiring dengan turunnya penjualan sebesar with the 26.1% decreae of sales, and has made the gross
26,1%, sehingga laba kotor Perseroan secara prosentase profit of the Company, in percentage terms, was improved.
mengalami perbaikan.
Laba Kotor Gross Profit

Laba kotor secara nilai mengalami sedikit penurunan menjadi In terms of value, the gross profit of the Company in 2016
Rp 63 miliar dibanding tahun lalu Rp 67 miliar, namun secara decreased from Rp 67 billion to Rp 63 billion, however in
prosentase mengalami perbaikan dari 2% menjadi 2.6%, percentage terms, it improved, from 2% to 2.6% in 2016. This
terutama karena kenaikan harga penjualan yang lebih tinggi improvement was primarily due to the increase of sales price

dibanding harga bahan baku, dan adanya selisih kurs that was higher than the material priceÊs, and also due to the
penjabaran atas translasi laporan keuangan terhadap nilai foreign exchange translation loss on inventory. This recovery
persediaan. Pemulihan ini terjadi mulai dari kuartal kedua started fr om the second quarter of 2016.
tahun 2016.
Biaya Operasional dan Rugi Operasional Operational Expense and Operational Loss
Biaya operasional mengalami kenaikan sebesar 31.5%, dari The operational cost has increased by 31.5%, from Rp 67
Rp 67 miliar menjadi Rp 88.6 miliar di tahun 2016, terutama billion to Rp 88.6 billion in 2016, primarily due to the existence
karena adanya pendapatan klaim asuransi sebesar Rp 23 of insurance claim revenue amounting to Rp 23 billion in 2015.
miliar di tahun lalu, Biaya penjualan mengalami sedikit Sales expenses slightly decreased by 2.2%, while general and
penurunan, 2.2% sedangkan biaya umum dan administrasi administrative expenses fell 0.8%. Components of the
turun 0.8%. Komponen biaya operasional Perseroan lebih Company's operating costs are more inelastic, so its decline
banyak bersifat inelastis, sehingga penurunannya tidak was not in proportion to the decline in revenue. Due to the
sebanding dengan penurunan pendapatan. Karena kenaikan abovementioned increase in operating cost, the Company
biaya operasional tersebut di atas, Perseroan mengalami experienced an operating loss of Rp 25.4 billion compared to
kerugian operasional sebesar Rp 25.4 miliar dibanding tahun last year's operating profit of Rp 55 million.
lalu keuntungan operasional Rp 55 juta.
Laba Periode Berjalan The Income for The Period

Perseroan mengalami kerugian periode berjalan sebesar The company suffered losses for the period amounted to
minus Rp 99,9 miliar dibanding kerugian tahun lalu 53,6 minus Rp 99.9 billion compared to last year figure of net loss
miliar, terutama karena kerugian operasional sebesar Rp Rp53.6 billion, and was primarily due to an operating loss of
25,4 miliar, kerugian kurs mata uang asing Rp 28,5 miliar dan Rp 25.4 billion, foreign currency exchange loss of Rp 28.5
beban bunga dan keuangan Rp 44,2 miliar. Meskipun billion and interest expense Rp 44,2 billion. However the total
demikian total nilai kedua biaya tersebut telah turun 12.9% value of both these costs has dropped 12.9% compared to last
dibanding tahun lalu sebesar Rp 83,5 miliar yaitu menjadi Rp 72,7 year's Rp 83.5 billion to Rp 72.7 billion. Along with the
miliar. Seiring dengan adanya perbaikan operasional, diharapkan operational improvements, the Company expected a positive
kinerja Perseroan di tahun 2017 menjadi positif. performance in 2017.
Pendapatan (Kerugian) Komprehensif lain Other Comprehensive Income (Loss)

Kerugian aktuarial dari program pensiun manfaat dibukukan Actuarial loss from defined benefit pension plan is
turun menjadi sebesar Rp 7,1 miliar, dan kerugian selisih kurs recorded lower at Rp 7.1 billion, and loss on exchange
karena penjabaran laporan keuangan untuk tahun 2016 difference due to translation of financial statements for the
dicatat sebesar Rp 62,1 miliar. Secara keseluruhan Kerugian year 2016 is posted at Rp 62.1 billion. In summary, Other
komprehensif lain naik dari Rp 49,5 miliar tahun 2015 Comprehensive Loss in 2016 is Rp 167.3 billion, increase
menjadi Rp 167,3 miliar tahun 2016, karena menguatnya from last year figure of Rp 49.5 billion, due to the
kurs mata uang Rupiah terhadap USD. strengthening Rupiah exchange rate against USD.
Total Rugi Komprehensif Total Comprehensive Loss

Total Rugi Komprehensif tahun 2016 yang dibukukan oleh Total Comprehensive Loss in 2016 was recorded at Rp 167.3
Perseroan adalah sebesar Rp 167,3 miliar, naik signifikan billion, up significantly from last year's Rp 49.5 billion, due to
dari tahun lalu Rp 49,5 miliar, karena kenaikan kerugian the increase in net loss for the year and the exchange
bersih tahun berjalan dan selisih kurs karena penjabaran difference due to translation of financial statements, as
laporan keuangan seperti yang diuraikan di atas. previously explained.
Arus Kas The Cash Flow

Arus kas dari Aktivitas Operasional mengalami penurunan Cash Flows from Operating Activities decreased significantly,
yang signifikan, dari penerimaan dana Rp 1,7 triliun menjadi from inflow of Rp 1.7 trillion to out flow of Rp 49.2 billion due to
pengeluaran dana Rp 49,2 miliar karena turunnya arus kas reduced cash flows from customers in line with the declining of
dari pelanggan seiring dengan turunnya penjualan Perseroan the CompanyÊs sales in 2016, and also an increase in cash
di tahun 2016, dan juga adanya kenaikan pembayaran kas payments to suppliers and employees due to 2015 carried
kepada pemasok dan karyawan karena adanya kewajiban di forward obligations, in accordance with the terms of payment
tahun lalu yang harus dibayar di tahun 2016, sesuai dengan to suppliers.
kondisi pembayaran ke suplier.

Perseroan mengalami kenaikan arus kas Investasi dari positif The Company experienced an increase in investment cash
Rp 116,6 miliar menjadi negatif Rp 117,2 miliar, karena flow from Rp 116.6 billion inflow to outflow Rp 117.2 billion,
penempatan margin deposit untuk jaminan pembukaan because of margin deposit placement to guarantee the
Letter of Credit dan kenaikan piutang kepada pihak berelasi. opening of letters of credit and an increase in accounts receiv-
able from related parties.
Arus kas neto pendanaan, turun sangat tajam dari
penggunaan dana Rp 1,8 triliun menjadi penerimaan dana The net financing cash flow, dropped sharply from outflow of
Rp 101,6 miliar karena penerimaan pinjaman bank jangka Rp 1.8 trillion to inflow Rp 101.6 billion, due to receipt of funds
pendek di tahun 2016 sebesar Rp 306,7 miliar dibanding from short-term banksÊ borrowing in 2016 amounted to Rp
dengan pembayaran fasilitas kredit kepada perbankan, 306.7 billion, compared to the 2015 payment of credit facilities
sebesar Rp 1,7 triliun di tahun 2015. to the banks, amounting to Rp 1.7 trillion in 2015.
Kemampuan Membayar Utang Settlement Capability on Borrowings

Di tengah-tengah keadaan Perseroan yang mengalami In the midst of the Company's net losses, and the existence of
kerugian bersih, dan adanya sedikit penurunan rasio a slight decrease in the liquidity ratio, from 90.1% to 85.5%,
likuiditas, dari 90,1% menjadi 85,5% kemampuan Perseroan the Company's ability to repay its obligations can still be well
untuk membayar hutang masih dapat dikelola dengan baik, managed, due to full support of the CompanyÊs Group, which
terutama karena adanya dukungan penuh dari Grup has been demonstrated by the payment of long-term debt to
Perseroan, yang ditunjukkan oleh pembayaran hutang banks, amounting to USD 50 million in accordance with the
jangka panjang kepada bank, sebesar USD 50 juta sesuai schedule, as outlined in the Company's cash flow, and will be
dengan jadwal, seperti yang diuraikan dalam arus kas fully paid in 2017. The Company condition is expected to
Perseroan, dan akan lunas di tahun 2017. Kondisi Perseroan improve in 2017 and posted a positive performance in line with
diharapkan dapat membaik di tahun 2017 dan membukukan operational improvements and aluminum commodity market
kinerja yang positif seiring dengan perbaikan operasional dan recovery.
pemulihan pasar komoditas aluminium.
Collectibility level on Receivables
Tingkat Kolektibilitas Piutang Trade account receivable of the Company at the end of 2016
Piutang usaha Perseroan di akhir tahun 2016 tercatat stood at Rp 129.8 billion, with good receivable quality and
sebesar Rp 129,8 miliar, dengan tingkat kolektibilitas piutang collection period of 19 days.
baik dan lancar, yaitu 19 hari.
Struktur Permodalan dan Kebijakan Manajemen atas Capital Structure and Management Policy on Capital
Struktur Permodalan Structure
Di tahun 2016, tidak ada perubahan dalam modal dasar, In 2016, there were no changes on authorized capital and
modal ditempatkan dan disetor, serta tambahan modal subscribed and fully paid-up capital as well as on additional
disetor lainnya. Perseroan juga mendapatkan pendaan dari paid up capital. The Company also obtained funding from the
perbankan, dan rasio hutang bersih terhadap modal banks, and the net debt to equity ratios have increased from
mengalami peningkatan di tahun 2016 dari 69% menjadi 69% to 121% in 2016, primarily due to the short term bank
121% terutama karena adanya kenaikan hutang bank dan loan increase and lower retained earnings amount as a result
penurunan laba ditahan akibat kerugian kurs karena translasi of financial statement translation exchange losses .
laporan keuangan.
Ikatan Material Investasi Barang Modal Material Contract of Capital Goods as Investment
Pada tahun 2016 Perseroan tidak melakukan ikatan yang In the year 2016 the Company had no material contract of
material terhadap investasi barang modal. capital goods as investment.
Informasi dan Fakta Material yang Terjadi Setelah Information and Material Fact Occurred After The Date of
Tanggal Laporan Akuntan AccountantÊs Report
Tidak terdapat informasi dan fakta material lain yang terjadi There were no information and substantial facts had been
setelah tanggal laporan Akuntan. occured post the accountantÊs report date.

PROSPEK USAHA BUSINESS OUTLOOK

Secara umum kondisi industri aluminium lembaran sangat Generally, the condition of aluminum flat rolled industry is strongly
dipengaruhi oleh harga komoditas aluminium itu sendiri, yang influenced by commodity prices which is internationally determined
harganya secara internasional ditetapkan dalam London in the London Metal Exchange. In 2015, aluminum price was
Metal Exchange. Di tahun 2015 harga aluminium sangat severely depressed, because of the crisis on demand and
tertekan, karena adanya krisis permintaan dan suplai, dan excessive supply, especially from China, and the crisis was
krisis terus berlanjut hingga kuartal kedua 2016. Pemulihan continued until the second quarter of 2016. This recovery was
harga terutama karena turunnya persediaan aluminium mainly due to the falling on the world aluminum inventories, the
dunia, kenaikan tingkat konsumsi, dan biaya produksi yang increase of consumption level, and higher production costs due to
lebih tinggi karena kenaikan harga batu bara dan alumina. rising coal prices and alumina. The Company was also benefited
Hal ini yang menyebabkan kondisi perusahaan juga baru from this positive developement, relfected on its improved
membaik sejak kuartal ketiga 2016. performance in 3rd quarter of 2016
HARGA DAN STOK ALUMINIUM - LONDON METAL PRICE AND STOCK OF ALUMINIUM - LONDON
EXCHANGE 2016 : METAL EXCHANGE 2016 :
Pemulihan harga aluminium di tahun 2017 diproyeksikan tetap Aluminum price recovery in 2017 is projected to continue with
berlangsung tetapi lebih stabil, karena konsumsi pengguna akhir stability, because of the growth of end-user consumption,
yang tetap tumbuh, stabilnya kenaikan biaya produksi aluminium, stablized rising cost of aluminum production, and the
dan proyeksi persediaaan aluminium dunia yang mulai naik increasing amount of projected worlld inventory. Since the
kembali. Sejak paruh kedua tahun 2016 sampai awal tahun 2017, second half of 2016 to early 2017, the Company has received
Perseroan sendiri telah menerima order yang jauh lebih besar far greater orders with better price, than the first quarter of
dibandingkan kuartal pertama tahun sebelumnya, dengan harga 2016. Demand for the Company's products began to rise
yang lebih baik. Permintaan terhadap produk Perseroan mulai again, both in the export and local markets. The Company is
naik kembali, baik di pasar ekspor maupun lokal. Diharapkan expected to achieve a good recovery momentum this year.
Perseroan dapat meraih momentum pemulihan ini dengan baik.
Bisnis aluminium lembaran secara umum menawarkan prospek The aluminium flat rolled business remains prospective for the
yang cerah untuk jangka menengah maupun jangka panjang. medium and long term. The aluminium demand tends to
Permintaan akan bahan aluminium cenderung meningkat increase in line with the growth of consumer goods industry,
sejalan dengan pertumbuhan industri barang konsumsi, transportation, pharmaceutical, and other relevant
transportasi, farmasi, dan industri hilir lainnya, yang lebih bisa downstream businesses, which are more resilient during
bertahan dalam masa krisis ekonomi. Sebagai perusahaan economic crisis. In line with the global consolidation of
dengan kapasitas yang cukup besar, sejalan dengan adanya aluminum industry, the Company, as a leading company
konsolidasi global dalam industri aluminium, Peseroan dapat having sizeable installed capacity, might get the benefit from
meraih keuntungan dengan terbukanya kemungkinan untuk potential business tieăup possibilities with other global
menjalin kerja sama dengan pemain dunia lain, sehingga kinerja players, to improve the Company's performance.
Perseroan dapat lebih ditingkatkan.

Catatan: Sebagian kondisi dan analisa prospek aluminium Note: Some of the conditions and prospects of the aluminum
diambil dari Base Metal Market at SMM 2016 Annual Summit. taken from the analysis of Base Metal Market at SMM 2016
Annual Summit.
TARGET DAN REALISASI TARGET AND REALIZATION
Penjualan Sales
Realisasi Penjualan Perseroan di tahun 2016 sebesar 79.417 Realization of the Company sales in 2016 amounted to 79,417
MT, atau 26,7% di bawah target penjualan 108.407 MT. tons, or 26.7% below the sales target of 108,407 tons. The slow
Lesunya perekonomian dunia dan situasi persaingan di pasar down in global economic condition and the competition in the
komoditas telah berimbas secara negatif ke bisnis Perse- commodity market have negatively impacted the Company's
roan, terutama di kuartal pertama dan kedua di tahun 2016. business, especially in the first and second quarter of 2016.
Laba (Rugi) Profit (Loss)

Perseroan mengalami kerugian dibanding dengan target laba The Company suffered losses in 2016 compared to the net
bersih sebesar 1-2%, karena beberapa hal yang disebutkan profit target of 1-2%, because of the above reasons. Sales was
di atas. Penjualan yang masih jauh dibawah target, dengan still far below the target with depressed price, resulting a net
kondisi harga yang tertekan, mengakibatkan Perseroan loss of Rp 99 miliar
mengalami kerugian sebesar Rp 99 miliar.
Struktur Modal Capital Structure

Perseroan tidak mentargetkan struktur modal tertentu, The Company does not have any particular capital structure
namun Perseroan melihat bahwa rasio rasio kewajiban target, however, the company views the ratio of liabilities to
dibanding ekuitas menjadi lebih besar karena kerugian yang equity becomes larger due to losses experienced by the
dialami Perseroan sejak tahun 2015. Perseroan mengharap- Company since 2015, and expects to achieve a better structure
kan akan dapat mencapai struktur yang lebih baik karena because of the profit target in 2017.
target laba yang hendak dicapai di tahun 2017.
Target Operasional Operational Target

Target penjualan Perseroan di tahun 2017 ditargetkan naik In 2017, the Company sales is targetted to increase by 15%
15% dibandingkan dengan realisasi penjualan tahun 2016, from 2016 achievement, and the net profit target is 1% from
dan keuntungan bersih ditargetkan sebesar 1% terhadap sales. Capitalization is expected to be gradually improved in line
penjualan di tahun 2017. Permodalan diharapkan berangsur with the positive performance of the Company.
membaik setelah adanya kinerja yang positif.
Aspek pemasaran Marketing Aspect

Sebagian besar pangsa pasar Perseroan berasal dari negara Most of the Company's market share comes from the United
Amerika Serikat, yaitu sebesar 52%, dari total penjualan States, which amounted to 52% of the Company's total sales,
Perseroan, sedangkan pasar lokal sebesar 33%. Selain and the local market is 33%. Besides the United States, the
Amerika Serikat, Perseroan juga mengekspor produknya ke Company also exports its products to North Korea, India,
Korea Utara, India, Belgia, Asean, dan Selandia Baru. Ke Belgium, Asean and New Zealand. Looking forward, it is
depannya, mau tidak mau Perseroan harus memperhatikan inevitably the Company should consider global competition
kondisi persaingan dunia, dengan China sebagai kompetitor condition with China as major competitor, and also to foster
utama, dan juga membina hubungan baik dengan semua good relationship with all customers. The company also
pelanggan. Di samping itu juga diterapkan insentif untuk introduced incentives and price discounts for large volumes of
pembayaran dan diskon harga untuk pembelian dalam purchase from customers. Price, quality, and delivery are
volume yang lebih besar. Karena harga, kualitas, dan becoming very important factors in the aluminium industry
pengiriman menjadi faktor yang sangat penting dalam competition, thus the company implements the efficiency and
persaingan di industri aluminium ini, Perseroan menerapkan quality strategy on raw materials purchase, and better control
strategi efisiensi dan kualitas dalam pembelian bahan baku, on its production process to enhance the customer satisfaction
dan pengawasan yang lebih baik terhadap proses produksi on delivery and quality of the products.
agar pengiriman dan kualitas produk jadi menjadi lebih dapat
memuaskan pelanggan.

Impact of The Change on The Regulation/Legislation

There was no regulatory change that may have substantial
impacts to the Company or its financial report.
Change of AccountingÊs Policy

The implementation of accounting standards adopted by the
Company, effective from January 1, 2015, resulted in some
material impacts on the Company's financial statements:
1. PSAK 1 (Revision 2013): Financial Statements

Presentation.
According to PSAK 1 (Revision 2013), there are changes
for presentation of other comprehensive income. The main
changes resulting from this amendments are requirement to
group items presented in other comprehensive income on
the basis of whether they are potentialy to be subsequently
reclassified to profit or loss (reclassification adjustments).
2. PSAK 24 (Revised 2013): Employee benefits

According to PSAK no. 24 (Revision 2013), there are
Dampak Perubahan Peraturan / Perundang-undangan changes of guidance for calculation and disclosure for the
Tidak terdapat dampak atau pengaruh signifikan dari employee benefits. One of the changes is that all past
perubahan peraturan/perundang-undangan terhadap service costs must be recognized immediately as an
Perseroan dan/atau terhadap laporan keuangan Perseroan. expense and removes the corridor mechanism.
Perubahan Kebijakan Akuntansi Other Material Information

Terdapat penerapan standar akuntansi yang berjalan mulai 1 During 2016, there was no information, such as: investment,
Januari 2015, yang menyebabkan perubahan signifikan expansion, divestment, merger/dissolution of business,
terhadap laporan keuangan Perseroan: debt/capital restructuring and transactions that may have
significant conflict of interest and affiliations.
1. PSAK 1 (Revisi 2013): Penyajian Laporan Keuangan
Berdasarkan PSAK 1 (Revisi 2013), terdapat perubahan
dalam penyajian penghasilan komprehensif lain.
Perubahan yang utama adalah persyaratan untuk
mengelompokkan hal-hal yang disajikan sebagai
penghasilan komprehensif lain berdasarkan apakah
hal-hal tersebut berpotensi untuk direklasifikasi ke laporan
laba rugi (penyesuaian reklasifikasi).
2. PSAK 24 (Revisi 2013): Imbalan kerja

Berdasarkan PSAK no 24 (Revisi 2013), terdapat
perubahan dalam panduan perhitungan dan
pengungkapan imbalan kerja. Salah satu perubahannya
adalah semua biaya jasa lalu harus segera diakui sebagai
beban dan menghilangkan mekanisme koridor.
Informasi Material lainnya

Sepanjang tahun 2016 tidak terdapat informasi material,
seperti: investasi, ekspansi, divestasi, penggabungan/
peleburan usaha, restrukturisasi utang/modal dan transaksi
afiliasi dan transaksi yang mengandung benturan
kepentingan.
tata kelola perusahaan

Corporate Governance
DASAR PENERAPAN TATA KELOLA PERUSAHAAN THE PRINCIPLES OF CORPORATE GOVERNANCE

Alumindo senantiasa memegang komitmen untuk IMPLEMENTATION
mengimplementasikan prinsip-prinsip dasar tata kelola Alumindo is committed to implement basic principles of the
perusahaan yang baik, demi kemajuan Perseroan dan Good Corporate Governance (GCG) in conducting business -
bertambahnya nilai Perseroan dalam jangka panjang. Alumindo for the development and long term value of the company.
terus berusaha membangun nilai-nilai positif melalui Alumindo strives to build positive values through
implementasi prinsip-prinsip dasar Transparansi, Akuntabilitas, implementation of GCGÊs basic principles of Transparency,
Tanggung jawab, Independensi, dan Kewajaran. Accountability, Responsibility, Independence, and Fairness
STRUTUR TATA KELOLA PERUSAHAAN CORPORATE GOVERNANCE STRUCTURE

Struktur Tata Kelola Perusahaan terdiri dari organ utama Corporate Governance Structure consists of the main organs of
Perseroan, yaitu: the Company, as follows :
RAPAT UMUM PEMEGANG SAHAM

General MeeƟng Of Shareholders
DEWAN KOMISARIS KOMITE AUDIT

Board of Commissioners Audit CommiƩee
DEWAN DIREKSI SEKRETARIS PERUSAHAAN

Board of Directors Corporate Secretary
Audit Internal
Internal Audit
RAPAT UMUM PEMEGANG SAHAM GENERAL MEETING OF SHAREHOLDERS

Rapat Umum Pemegang Saham (RUPS) merupakan General Meeting of Shareholders (GMS) is possessing
pemegang kekuasaan dan kewenangan tertinggi supreme control and authority of the company, which are not
Perusahaan, dengan kewenangan yang tidak diberikan granted to the Board of Commissioners or Board of Directors as
kepada Dewan Komisaris atau Direksi sebagaimana diatur stipulated in the Articles of Association and the prevailing
dalam Anggaran Dasar Perusahaan maupun peraturan legislation.
perundang-undangan yang berlaku. Kewenangan yang The authority possessed by GMS includes :
dimiliki oleh RUPS antara lain: 1. To appoint and to dismiss the Board of Commissioners and
1. Mengangkat dan memberhentikan anggota Dewan Board of Directors (Boards).
Komisaris dan Direksi. 2. To evaluate the performance of the BoardsÊ members.
2. Mengevaluasi kinerja Dewan Komisaris dan Direksi 3. To determine the salary or honorarium and other allowances
3. Menentukan gaji atau honorarium dan tunjangan lain bagi of the BoardsÊ members.
anggota Dewan Komisaris dan Direksi. 4. To ratify the Annual Report including the Financial
4. Mengesahkan Laporan Tahunan termasuk di dalamnya Statements which have been audited by Public Accountant.
Laporan Keuangan yang telah diaudit oleh Akuntan Publik 5. To approve the amendments of CompanyÊs Articles of
5. Menyetujui perubahan Anggaran Dasar, menunjuk Kantor Association.
Akuntan Publik dan 6. To appoint public Accountant and
6. Menetapkan penggunaan laba Perseroan. 7. To determine the usage of CompanyÊs profits
PELAKSANAAN RUPS TAHUN 2016 THE EXECUTION OF 2016 GENERAL SHAREHOLDER

Pada tanggal 29 Juni 2016, bertempat di Fave Hotel - MEX, MEETING
Surabaya, Perseroan mengadakan Rapat Umum Pemegang The Company held the Annual General Shareholder Meeting
Saham Tahunan. Adapun semua keputusan telah on 26 June 2016, at Fave Hotel-MEX, Surabaya and all the
direalisasikan dan segala ketentuan yang ada telah dipenuhi. decisions have been realized and the provisions have been
complied with:

Annual General Shareholder Meeting (GMS)

Resolution in 2016:
1. Approved the DirectorÊs Report on the business operational
result in 2015 fiscal year and granting full release and discharge
(acquit et de charge) to the Board of Directors and Board or
Keputusan RUPS Tahunan 2016:
Commissioners of the Company for their management and
1. Menerima dan menyetujui Laporan Direksi Perseroan
supervision actions during 2015 fiscal year, as long as such
mengenai kegiatan usaha di tahun 2015 dan memberikan
actions are presented in the CompanyÊs Consolidated Financial
pemberesan dan pembebasan tanggung jawab sepenuhnya
(acquit et decharge) kepada Dewan Komisaris dan Direksi dari Statements, except for embezzlement, fraud, and other criminal
tanggung jawabnya terhadap tindakan-tindakan yang dilakukan acts. The GMS also approved and ratify the Annual Report and
dalam tahun 2015, selama tindakan-tindakan itu tampak pada Audited Financial Statement for the year 2015.
buku-buku Perseroan, kecuali perbuatan penggelapan dan
penipuan dan lain-lain tindakan pidana, serta menyetujui untuk 2. Granted the authority to the CompanyÊs Controlling Shareholder
mengesahkan Laporan Tahunan dan Laporan Keuangan to determine the sructure and amount of remuneration for each
Perseroan tahun buku 2015 yang telah diaudit. CompanyÊs Board of Commissioners and Board of Directors
member, which shall be implemented on January of the
2. Menyetujui untuk memberikan wewenang kepada Pemegang corresponding year.
Saham Pengendali untuk menetapkan struktur dan besaran
remunerasi untuk setiap anggota Direksi dan setiap anggota 3. Granted the authority to the Board of Commissioners to apoint a
Dewan Komisaris Perseroan, yang akan dilaksanakan pada bulan public accountant as an independent party to audit the Company
Januari di tahun yang bersangkutan. Financial Statement for the year ended 31 December 2016 and
granted the authority to the Directors of the Company to determine
3. Menyetujui untuk memberikan wewenang kepada Dewan the honorarium of the Public Accountant and other relevant
Komisaris untuk memilih dan menetapkan Kantor Akuntan Publik conditions.
sebagai lembaga independen untuk melakukan audit atas
Laporan Keuangan Perseroan untuk tahun buku yang berakhir
4. Approved to authorize the Directors of the Company to pledge
pada tanggal 31 Desember 2016 dan memberikan wewenang
the companyÊs asset as required, in the event of renewal or new
kepada Direksi Perseroan untuk menetapkan jumlah honorarium
Akuntan Publik tersebut beserta persyaratan lainnya. extension of bank facility, and/or to provide Corporate Guarantee,
in line with Board of CommissionersÊ writen consent, on case by
4. Menyetujui untuk memberi wewenang kepada Direksi untuk case basis, with expiry date until the next Annual General
menjaminkan harta kekayaan Perseroan, apabila diperlukan, Shareholder meeting.
dalam rangka mendapatkan perpanjangan fasilitas pinjaman yang
akan jatuh tempo atau memperoleh fasilitas pinjaman baru 5. Approved to authorize the Directors of the Company, with Board
dan/atau memberikan jaminan perusahaan Corporate Of CommissionersÊ writen approval, on case by case basis, in the
Guarantee), sesuai dengan persetujuan Dewan Komisaris yang event of providing loan from and/or to the Affiliated parties, at
dilakukan secara tertulis dan diberikan secara kasus per kasus reasonable terms and conditions and normal market interest rate,
dengan masa berlaku sampai dengan keputusan baru Rapat and shall expiry on the next Annual General Shareholder Meeting
Umum Pemegang Saham Tahunan berikutnya. decision.
5. Menyetujui untuk memberikan wewenang kepada Direksi All the decisions of Annual General Shareholder Meeting in 2016
Perseroan dengan persetujuan Dewan Komisaris yang dilakukan Have been followed up and implemented, including the
secara tertulis dan diberikan secara kasus per kasus dalam hal appointment of Independent Auditor who had audited the Financial
mendapatkan dan/atau memberikan pinjaman dari dan/atau Statement of the Company for fiscal year of 2016, and the decision
kepada Pihak-pihak berelasi dengan syarat, ketentuan dan tingkat
to determine the structure and amount of the Board of
bunga yang wajar sesuai kondisi pasar yang ada, dengan masa
Commissioners and Directors remuneration by the Controlling
berlaku sampai dengan keputusan baru Rapat Umum Pemegang
Shareholders.
Saham Tahunan berikutnya.
Keputusan RUPS Tahunan 2016 yang perlu ditindaklanjuti telah

dilaksanakan seluruhnya, termasuk penunjukan Auditor
Independen yang mengaudit Laporan Keuangan Perseroan tahun
buku 2016 dan penetapan besaran dan struktur remunerasi dari
anggota Dewan Komisaris dan Direksi oleh Pemegang Saham
Pengendali.

DEWAN KOMISARIS
Sesuai ketentuan Anggaran Dasar Perseroan, Dewan Komisaris
ditetapkan melalui Rapat Umum Pemegang Saham (RUPS)
dengan masa jabatan selama 3 (tiga) tahun, namun dapat dipilih
kembali.
BOARD OF COMMISSIONERS
RUPS tahun 2014 telah menetapkan susunan Dewan Komisaris Based on the companyÊs articles of association, the Board of
yang baru dengan masa jabatan hingga tahun 2017. Dewan Commissioners is elected through the ShareholderÊs general
Komisaris terdiri dari 4 (empat) orang, dimana 2 (dua) orang meeting with a 3 (three) year term and could be re-elected.
diantaranya merupakan Komisaris Independen, yang tidak terkait
dengan pemegang saham mayoritas. Susunan dan riwayat The 2014 ShareholderÊs General Meeting had decided the
masing-masing anggota Dewan Komisaris tercantum pada new Board of Commissioners composition with tenure until
bagian Profil Komisaris. 2017. The Board of Commissioners comprises of 4 persons,
and 2 (two) of them are independent commissioners, who are
Tugas dan Tanggung Jawab not related to the main shareholders. The composition of the
1. Melakukan pengawasan terhadap kebijakan Direksi dalam Board of Commissioners and each memberÊs profile is
melaksanakan pengurusan perusahaan serta memberikan available on the Board of Commissioners profile.
nasehat kepada Direksi termasuk pelaksanaan rencana kerja
perusahaan, serta ketentuan-ketentuan Anggaran Dasar, Duties and responsibilities
Keputusan RUPS, dan peraturan perundang-undangan yang 1.To supervise the Board of Directors in conducting the
berlaku. management of the company and provide advice to the Board
2. Dalam rangka mendukung efektivitas pelaksanaan tugas dan of Directors, including the implementation of the work plans of
tanggung jawabnya, Dewan Komisaris wajib membentuk Komite the company, as well as the provisions of the Articles of
Audit dan dapat membentuk komite lainnya bila diperlukan dan Association, the GMS's decision, and the applicable laws.
wajib melakukan evaluasi terhadap kinerja komite tersebut pada 2. In order to support the effective implementation of its duties
setiap akhir tahun buku. and responsibilities, the Board shall establish the Audit
3. Dewan Komisaris selama menjalankan tugasnya berpedoman Committee and other committees, as required, and shall
pada Anggaran Dasar Perseroan dan dasar-dasar dari kebijakan evaluate the performance of the committees at the end of
Tata Telola Perusahaan. each financial year.
3. The Board of Commissioners refers to the CompanyÊs
Pedoman Dewan Komisaris Articles of Association and Corporate Governance basic
Dewan Komisaris selama menjalankan tugasnya berdasarkan principes.
pedoman yang tercermin di dalam Anggaran Dasar Perseroan
dan dasar-dasar dari kebijakan Tata Telola Perusahaan. Guidelines for the Board of Commissioners
The Board of Commissioners of the Company execute their
Rapat Dewan Komisaris duties based on the guidelines as reflected in the CompanyÊs
Rapat Dewan Komisaris wajib diadakan paling kurang 1 (satu) Articles of Association and the principles of Corporate
kali dalam 2 (dua) bulan dan setiap waktu bila dianggap perlu oleh Governance.
2 (dua) orang anggota Dewan Komisaris. Pengambilan
keputusan rapat Dewan Komisaris dilakukan berdasarkan Board of CommissionersÊ Meeting
musyawarah mufakat. Apabila tidak tercapai keputusan The Board of CommissionersÊ meeting should be conducted at
musyawarah, maka pengambilan keputusan dilakukan least once every 2 (two) months, or whenever required as
berdasarkan suara terbanyak. proposed by 2 (two) Board members. Board of Commissioners
meeting decisions are made by consensus. If the consensus fails,
Frekuensi rapat Dewan Komisaris pada tahun 2016 adalah decisions are made by voting
sebanyak 30 kali, dengan rata-rata tingkat kehadiran 75% untuk
masing-masing anggota. Di samping itu Dewan Komisaris
bersama-sama dengan Direksi mengadakan pertemuan gabungan During 2016 meetings have taken place 30 times, with the
untuk membahas kinerja Perseroan untuk periode tertentu. average attendance level of 75 % of the Board members. The
Board of Commissioners also regularly met with the Directors
to discuss the companyÊs performance in a certain period.

Pelatihan Dewan Komisaris Board of CommissionersÊ Trainings

Pelatihan dan training yang diikuti oleh Dewan Komisaris di Attended training programs in 2016 are Tax Amnesty
tahun 2016 termasuk diantaranya Sosialisasi Tax Amnesty socialization program by East Java Regional Tax Office,
oleh Kantor Pajak Wilayah Jawa Timur di Surabaya, Manufacturing in WEB 2.0, and Global Sharing Economy, The
Manufacturing in WEB 2.0, serta Global Sharing Economy; Dynamic Changes, both conducted by Business Review in
the Dynamic Changes, Keduanya diadakan oleh Businesss Singapore.
Review di Singapura.
Prosedur Pelaksanaan Penilaian Kinerja Performance Assessment Procedures

Dewan Komisaris melakukan penilaian terhadap kinerja Board of Commissioners assesses the performance of the
Direksi dan anggota Dewan Komisaris dengan menggunakan Board of Directors and Board of Commissioners based on an
proses penilaian yang berlaku di Perseroan. assessment process that applicable in the Company.
Kriteria Kinerja Anggota Dewan Komisaris Performance indicators of Board of Comissioners

Kriteria penilaian kinerja Dewan Komisaris diukur dari The assessment criteria for the Board of Commissioners
pelaksanaan tugas pengawasan atas kebijakan pengurusan performance is the implementation of supervisory function
dan jalannya Perseroan, serta pemberian nasihat kepada over the course of the CompanyÊs management and policies,
Direksi untuk kepentingan pencapaian tujuan Perseroan. as well as advices to the Board of Directors with the objective
Penilaian juga mencakup evaluasi terhadap pelaksanaan to achieve the CompanyÊs objectives. The assessment also
tugas khusus yang telah diberikan sesuai Anggaran Dasar covers evaluation towards the implementation of special
dan / atau berdasarkan keputusan RUPS. duties in accordance with the Articles of Association and/or
based on the decision of the GMS.
Kriteria Kinerja Anggota Direksi Performance indicators of Board of Directors

Kriteria penilaian kinerja Direksi mencakup: In 2016, the assessment criteria for the Board of Directors covers:
Ć Pelaksanaan tugas dan tanggung jawab masingmasing Ć Implementation of duties and responsibilities of the respective
anggota Direksi dalam mengelola Perseroan sesuai members of the Board of Directors in managing the Company in
Anggaran Dasar Perseroan; accordance with the CompanyÊs Articles of Association;
Ć Pelaksanaan hasil keputusan RUPS Tahunan 2016 dan Ć Implementing the results of the 2016 Annual GMS, and
Ć Pencapaian realisasi dari rencana kerja Perseroan. Ć Actual achievement of the CompanyÊs work plans.
KOMITE AUDIT AUDIT COMMITTEE

Komite Audit terdiri dari 3 orang dan yang menjabat sebagai The Audit Committee comprises of 3 persons, chaired by
ketua adalah salah seorang Komisaris Independen. Komite Independent Commissioner. They are not related to the Board
Audit bertugas membantu Dewan Komisaris dalam members or the ultimate Shareholders. The Audit Committee
melakukan fungsi pengawasan dan memiliki wewenang assists the Board of Commissioners in their supervisory works
untuk mengakses seluruh data dan informasi Perseroan. with broad access to relevant company information and data.
Tugas dan tanggung jawab didasarkan pada Piagam Komite The duties and responsibilities has been based on the Audit
Audit yang dimiliki oleh Perseroan. Committee Charter owned by the Company.
Susunan Komite Audit Brief profiles of the Audit Committee
Budiprajogo Limanto (Ketua) Budiprajogo Limanto (Head of Committee)

Warga Negara Indonesia, 67 tahun, memulai karir di kelompok Indonesian, 67 years old, Began his career with the Maspion
usaha Maspion pada tahun 1968 dan menjabat berbagai posisi Group in 1968 and has since held several positions within the
sepanjang karirnya. Menduduki jabatan Direktur di Perseroan Group. Appointed as Director of the Company in the period of
untuk periode tahun 2006-2009 dan menjabat sebagai Komisaris 2006-2009 and as Independent Commissioner since 2009.
Independen Perseroan sejak tahun 2009
Heri Kustiyono Rudiantoro Heri Kustiyono Rudiantoro

Warga Negara Indonesia, 58 tahun, menyelesaikan studi Indonesian, 58 years old, completed his Economic study at
Ekonomi jurusan Akuntansi di Universitas Narotama, Surabaya Universitas Narotama, Surabaya with Accounting major, and
dan berkarir di Kantor Akuntan Publik selama 17 tahun. had a career in Public Accountant for 17 years.

Sali Adi Nugroho Sali Adi Nugroho

Warga Negara Indonesia, 58 tahun, menyelesaikan program Indonesian, 58 years old, completed his Magister in Manage-
studi Magister Manajemen di Universitas Wijaya Putra, ment study at Universitas Wijaya Putra, Surabaya in 2000.
Surabaya pada tahun 2000.
The above Audit Committee was assigned by the Board of
Komite Audit tersebut di atas ditunjuk oleh Dewan Komisaris Commissioners, through Independent Commissioner, for the
melalui Komisaris Independen, untuk periode jabatan tahun period of 2014-2017.
2014-2017.
Independensi Komite Audit Independency of Audit Committee

Anggota Komite Audit merupakan individu independen dan Audit Committee members are independent individuals and
tidak terafiliasi dengan Pengurus atau Pemegang Saham not affiliated with the management and Controlling sharehold-
utama. Dalam pelaksanaan tugas dan tanggung jawabnya, ers of the Company. Audit Committee acts professionally and
Komite Audit bertindak secara profesional dan independen. independently in carrying out its duties and responsibilities.
Uraian Singkat Kegiatan Komite Audit The Activity of the Audit Committee in Brief
Sepanjang tahun 2016, Komite Audit telah melaksanakan During 2016, the Audit Committee has performed the duties
tugas-tugasnya dengan baik, diantaranya melakukan well, which include auditing and reviewieng the financial
pemeriksaan dan penelaahan terhadap informasi keuangan information of the company and advising the Board related to
Perseroan dan memberikan masukan-masukan terkait dengan the compliance with the prevailing rules and regulations. In
kepatuhan terhadap peraturan dan perundang-undangan yang conducting its audit function, the Audit Committee has Audit
berlaku. Dalam menjalankan fungsi audit, Komite Audit telah Committee Charter as guidelines and all members have been
memiliki dan berpedoman pada Piagam Komite Audit, dan endorsed to access all relevant information, document and
semua anggota telah diberikan kewenangan untuk mengakses data.
seluruh informasi, dokumen serta data yang relevan.
Rapat Komite Audit Audit Committee Meetings

Komite audit mengadakan rapat 3 (tiga) kali dalam setahun The Audit committee meetings is 3 (three) times in a year, and
dan selama tahun 2016, mengadakan rapat 3 (tiga) kali during 2016, there were 3 (three) meetings with attendance
dengan tingkat kehadiran rata-rata untuk tiap anggota 100%. level of 100% of each member.
Penilaian atas Kinerja Komite Audit Evaluation on the Performance of the Board of
Komite yang dibentuk oleh Dewan Komisaris dalam membantu CommissionersÊ Committees
tugas pelaksanaan pengawasan terhadap pengelolaan The Audit Committee is the committee established by the
Perusahaan adalah Komite Audit.Pengawasan dan penilaian Board of Commissioners to oversee the Corporate Govern-
terhadap kinerja Komite Audit dilakukan secara langsung oleh ance implementation of the Company. Based on the Board of
Dewan Komisaris. Dewan Komisaris berpendapat bahwa, fungsi Commissioners evaluation in 2016, the Audit Committee has
yang dijalankan oleh Komite Audit pada tahun 2016 telah sesuai performed well and properly implemented its functions.
dan dilaksanakan dengan baik.
The Audit Committee has coordinated well with the internal
Komite Audit telah berkoordinasi dengan baik, dengan and external auditors in ensuring the effectiveness of the
semua pihak yang diperlukan, terutama dengan pihak auditor control function run by the management, the business opera-
internal dan eksternal supaya fungsi pengendalian yang tion is aligned with the prevailing regulations, and its results
dijalankan oleh manajemen dapat berlangsung secara are appropriately reflected in the financial statements.
efektif, kegiatan operasional usaha Perseroan dapat seirama
dengan peraturan dan ketentuan yang berlaku dan dapat
ditampilkan secara wajar dalam laporan keuangan dari
Perseroan.

Pelatihan Komite Audit Trainings of Audit Committee

Pelatihan yang diikuti oleh anggota Komite Audit di tahun Trainings participated by the members of the Audit Committee
2016 adalah: during 2016 is:
a. Sosialisasi program Tax Amnesty oleh Direktorat Jenderal a. Tax Amnesty program by the Directorate General of Tax
Pajak Jawa Timur. of East Java.
b. Workshop Keterbukaan Informasi Emiten dan Perusahaan b. Workshop on Information Disclosure of Issuers and Public
Publik yang diselenggarakan oleh OJK. Company by Financial Services Authority (OJK)
c. Pelatihan dan seminar mengenai Pedoman Standar c. Training and seminar on Guidelines Accounting Standards.
Akuntansi. d. Socialization on Tax Income by East Java Tax Office.
d. Sosialisasi tentang Pajak Penghasilan dari Kantor Pajak
Wilayah Jawa Timur.
Komite Lain Other Committees

Belum terdapat komite lain yang dapat disampaikan. There is no other committee to be presented.
DEWAN DIREKSI BOARD OF DIRECTORS
Tugas dan Tanggung Jawab Duties and Responsibilities

Direksi Perseroan mengemban tugas kepemimpinan dan The companyÊs Board of Directors has the leadership tasks
bertanggung jawab atas jalannya perusahaan. Direksi and is responsible to run the company. The Directors shall set
berkewajiban merumuskan target dan menjalankan strategi up corporate targets and execute corporate strategies in order
perusahaan guna mencapai sasaran perusahaan. to achieve the companyÊs goals. Each member of the Board of
Masing-masing anggota Direksi dapat melaksanakan tugas dan Directors may perform tasks and make decisions in
mengambil keputusan sesuai dengan pembagian tugas dan accordance with the duties and responsibilities. However,
wewenangnya. Namun, pelaksanaan tugas oleh masing-masing execution of tasks by each member of the Board of Directors
anggota Direksi tetap merupakan tanggung jawab bersama. remains a shared responsibility. The President DirectorÊs task
Tugas Direktur Utama adalah mengkoordinasikan kegiatan is to coordinate the activities of the Board of Directors,
Direksi, merumuskan strategi usaha, dan mengarahkan formulate the business strategy, and lead the implementation
implementasi strategi usaha. Direksi yang lain, sesuai dengan direction of the strategy. Other Directors are responsible for
fungsi masing-masing, seperti yang diuraikan dalam profil Direksi, the CompanyÊs operational, marketing, and finance function,
bertanggung jawab di bidang operasional, pemasaran dan as described in the DirectorsÊ profile. The Directors are
keuangan perusahaan. Direksi bertanggung jawab kepada responsible to the GMS.
RUPS.
Sesuai ketentuan Anggaran Dasar Perseroan, Direksi As stipulated in the Company's articles of association, the
ditetapkan melalui Rapat Umum Pemegang Saham (RUPS) Board of Directors is elected through the ShareholderÊs
dengan masa jabatan selama 3 (tiga) tahun, namun dapat general meeting with 3 (three) year term and could be
dipilih kembali. re-elected.

RUPS tahun 2014 telah menetapkan susunan Direksi The 2014 ShareholderÊs general meeting has determined the new
Perseroan yang baru dengan masa jabatan hingga tahun composition of the Board of Directors with tenure until 2017. The
2017. Direksi Perseroan terdiri dari 5 orang, dimana 2 orang Board of Directors comprises of 5 persons, whereas the 2 (two) of
diantaranya merupakan Direktur independen, yang tidak them are independent directors, who are not related to the main
terkait dengan pemegang saham mayoritas. Susunan Direksi shareholders. The composition of the Board of Directors with each
dapat dibaca pada bagian profil Direksi. memberÊs profile can be read on the Board of Directors profile page.
Pedoman Direksi Guidelines for the Directors

Direksi menjalankan tugasnya berdasarkan pedoman yang Directors of the Company execute their duties based on the
tercermin di dalam Anggaran Dasar Perseroan dan guidelines as reflected in the CompanyÊs Articles of
dasar-dasar dari kebijakan Tata Telola Perusahaan. Association and the principles of Corporate Governance.
Rapat Dewan Direksi DirectorsÊ Meeting

Direksi mengadakan pertemuan untuk membahas antara lain The Board of Directors held meetings to discuss the general
kinerja Perseroan secara umum dan hal-hal yang berkaitan performance of the company and specific matters in relation with
dengan pengelolaan, pemasaran, produksi, keuangan, the operations, marketing, production, financial condition, business
strategi bisnis, masalah operasional lainnya serta tata kelola strategy, any other operational issues of the Company, and the
Perseroan. Rapat Direksi wajib diadakan paling kurang 1 Corporate Governance.
(satu) kali dalam sebulan, atau dapat diadakan setiap waktu
bila dianggap perlu oleh 2 (dua) anggota Direksi. Direksi juga The DirectorsÊ meeting should be conducted at least once a
dapat mengambil keputusan tanpa rapat apabila keputusan month, or whenever necessary as proposed by 2 (two) members
disetujui secara tertulis oleh semua anggota Direksi. of Directors. Directors may also make decision without meeting if
there is a writen approval by all DirectorsÊ members.
Frekuensi pertemuan Direksi pada tahun 2016 sebanyak 32 kali,
dengan tingkat kehadiran rata-rata 80% untuk masing-masing During 2016 the meetings have taken place 32 times, with the
anggota. Disamping itu Direksi juga mengadakan pertemuan average attendance level of 80%. In addition, the Board of
gabungan bersama-sama dengan Dewan Komisaris untuk Directors with the Board of Commissioners also met regularly. The
membahas kinerja Perseroan untuk periode tertentu. Keputusan decisions taken were based on consensus.
yang diambil berprinsip pada musyawarah untuk mufakat.
DirectorsÊ Training
Pelatihan Anggota Direksi In order to improve their competency, the Board members
Untuk menunjang dan mengembangkan kompetensi, dari occasionally take part in seminars on management and
waktu ke waktu anggota Direksi mengikuti seminar-seminar, leadership as well as on about the rules and regulations by the
termasuk seminar bertema manajemen dan kepemimpinan, relevant authorities. During 2016, the training attended by the
serta sosialisasi peraturan dan perundang-undangan yang Directors are Tax Amnesty Socialization by the Directorate
diadakan oleh instansi berwenang. Selama tahun 2016 General of Tax of East Java.
pelatihan yang diikuti adalah ÂTax AmnestyÊ, oleh Direktorat
Jenderal Pajak, Jawa Timur BOARD OF COMMISSIONERS AND DIRECTORS'
REMUNERATION
REMUNERASI DEWAN KOMISARIS DAN DIREKSI The procedures and basis of Remuneration determination
Prosedur dan Dasar Penetapan Remunerasi The process to determine remuneration begins with
Proses penetapan remunerasi berawal dengan penyusunan recommendations and suggestions pertaining to the members of
rekomendasi dan usulan terkait remunerasi anggota Dewan the Board of Commissioners and Board of Directors remuneration
Komisaris dan Direksi oleh Dewan Komisaris yang kemudian by the Board of Commissioners which is then submitted to the
disampaikan dan diajukan ke Pemegang Saham Pengendali Controlling Shareholder for approval, in line with the decision of the
untuk dimintakan persetujuan sesuai dengan keputusan Company General Shareholder Meeting (GMS).
Rapat Umum Pemegang Saham Perseroan.
The recommendation on each member of Board
Besaran remunerasi masing-masing anggota Dewan Commissioners and Board of Directors remuneration is made
Komisaris dan Direksi ditetapkan sesuai fungsi dan on the basis of each BoardsÊ member function and
kompetensi masing-masing anggota. Pada tahun 2016, competency. In 2016, the total remuneration for the Board of
jumlah remunerasi yang diterima oleh seluruh anggota Commissioners was amounted to Rp 8,709 million and the
Dewan Komisaris adalah sebesar Rp 8.709 juta. Board of Directors was Rp 9,622 million..

Pelaksanaan Fungsi Nominasi dan Remunerasi The execution on Function of Nomination and Remuneration
Fungsi nominasi dan remunerasi dalam Perseroan dijalankan Nomination and Remuneration function of the Company is
oleh Dewan Komisaris secara langsung. Kebijakan ini diambil conducted by the Board of Commissioners. This policy is
Perseroan karena pertimbangan efisiensi dan sesuai dengan adopted by the Company with efficiency consideration, and
kompleksitas dan cakupan bisnis Perseroan. Adapun, the scope and complexity of the companyÊs business. The
pelaksanaan terkait fungsi nominasi dan remunerasi berdasarkan implementation is based on the companyÊs guidelines of
Pedoman Pelaksanaan Fungsi Nominasi dan Remunerasi, yang nomination and remuneration. During 2016, the Board of
telah dimiliki oleh Perseroan. Pada tahun 2016, telah dilakukan Commissioners has done the performance evaluation for all
evaluasi kinerja terhadap seluruh anggota Direksi dan Dewan Board of Directors and Board of Commissioners members to
Komisaris, untuk menetapkan struktur dan besaran remunerasi establish the structure and the remuneration of each Board
bagi setiap anggota Direksi dan Dewan Komisaris yang members and decided by the Controlling Shareholders in
diputuskan oleh Pemegang Saham Pengendali sesuai dengan accordance with the Company GMS result.
keputusan dari RUPS Perseroan.
UNIT AUDIT INTERNAL INTERNAL AUDIT UNIT

Struktur dan kedudukan Unit Audit Internal, tercantum dalam The structure and position of Internal Audit is outlined in the
diagram Struktur Tata Kelola Perusahaan. Unit Audit Internal Company Corporate Governance structure, with obligation to
berkewajiban membantu Direksi Perseroan dalam assist the Board of Directors to conduct supervisory tasks on
menjalankan tugas pengawasan atas seluruh kegiatan all activities of the company. The supervisory duties shall
Perseroan. Tugas pengawasan Unit Audit Internal mencakup include the evaluation of internal control systems and risk
evaluasi sistem pengendalian interen dan manajemen risiko, management, in accordance with the companyÊs policy. In
sesuai dengan kebijakan Perseroan. Dalam melaksanakan performing its duties, the Internal Audit Unit is guided by
tugasnya, Unit Audit Internal berpedoman pada Piagam Audit Internal Audit Charter and authorized to access all corporate
Internal yang telah ditetapkan oleh Perseroan dan data and information. This Internal Audit Unit is led by a Unit
berwewenang untuk mengakses seluruh data dan informasi Head, who is fully responsible to the President Director.
Perseroan. Unit Audit Internal dipimpin oleh seorang Kepala
Unit, yang bertanggung jawab penuh kepada Direktur Utama.
Profil singkat Kepala Unit Audit Internal hingga tahun 2016: Brief profile of the Unit Head of Internal Audit up to 2016:
Hanna Puspasari, menyelesaikan studi di bidang Ekonomi Hanna Puspasari, finished her study in the Economics of
di Universitas Widya Mandala, Surabaya, Jawa Timur pada Widya Mandala University, Surabaya, East Java, in 1995. She
tahun 1995. Bergabung dengan Perseroan sejak tahun 2000 has joined the company since 2000, in Accounting and
di bidang Akuntansi dan pengawasan internal. internal control department.
Kepala Unit Audit Internal tersebut ditunjuk oleh Direksi sejak The Unit Head of Internal Audit was assigned by the Directors
tahun 2016 berdasarkan surat penunjukan dari Direksi since 2016, based on the DirectorÊs appointment Letter of 18
Perseroan pada tanggal 18 Februari 2016. February 2016.
Tugas dan Tanggung Jawab Audit Internal Duties and Responsibilities of Internal Audit
Unit Audit Internal mengemban tugas dan tanggung jawab The Internal Audit Unit carries out the duties and
sebagaimana tercantum dalam Piagam Unit Audit Internal, responsibilities in accordance with the Internal Audit Charter,
sebagai berikut: as follows:
1. Menyusun dan melaksanakan rencana Audit Internal untuk 1. Preparing and implementing periodical Internal Audit plan;
periode tertentu; 2. Checking and Evaluating the implementation of internal
2. Melakukan evaluasi terhadap jalannya sistim pengendalian control and risk management system in accordance with the
interen dan sistim manajemen risiko sesuai dengan policies in the Company;
kebijakan Perseroan; 3. Examining and assessing the efficiency and effectiveness
3. Melakukan pemeriksaan dan penilaian atas efisiensi dan of finance, accounting, operational, human resources,
efektivitas pada setiap bagian dalam Perseroan, diantara- marketing, information technology, and other activities;
nya kegiatan operasional, keuangan, akuntansi, sumber 4. Providing objective informations on examined activitites of
daya manusia, pemasaran, teknologi informasi serta all management levels.
kegiatan penting lainnya;
4. Menyampaikan informasi yang obyektif tentang kegiatan
yang diperiksa pada semua tingkat manajemen;

5. Memberikan saran maupun usulan kepada Manajemen 5. Providing inputs and suggestions to the Management for
untuk melakukan perbaikan ataupun pengaturan yang improvement or more efficient system for all the Company
lebih efisien atas seluruh kegiatan Perseroan; operational activities;
6. Membuat laporan hasil audit dan menyampaikannya 6. Preparing report of audit results and submitting the report to
kepada Direktur Utama dan Dewan Komisaris; the President Director and Board of Commissioners;
7. Memantau, menganalisis dan melaporkan pelaksanaan 7. Monitoring, analyzing, and reporting the follow up of the
tindak lanjut atas solusi perbaikan atau pengaturan; suggested improvement;
8. Berkoordinasi dengan Komite Audit Perseroan dalam 8. Cooperating with Audit Committee in preparing program to
melakukan tugas audit; evaluate the quality of internal audit activities;
9. Menyusun program untuk mengevaluasi mutu kegiatan 9. Arranging internal program to evaluate the quality of
audit internal yang dilakukannya; implemented internal audit activities.
10. Melakukan pemeriksaan khusus atau insidentil, apabila 10. Conducting special examination if necessary.
diperlukan.
Uraian Singkat Pelaksanaan Tugas Unit Audit Internal The Activity of Internal Audit Unit during 2016 in Brief
untuk tahun 2016 The internal audit unit has performed its function according to
Unit audit internal telah menjalankan fungsinya sesuai the given mandate. Some of the executed duties were the
dengan amanat yang diberikan. Beberapa tugas yang telah evaluation on the internal control system and the audit on the
dilakukan, diantaranya adalah evaluasi atas pelaksanaan effectiveness and efficiency of the companyÊs operational and
sistem pengendalian interen, dan atas efektivitas dan finance activities. The internal audit unit has evaluated the
efisiensi dalam kegiatan operasional perusahaan dan working system, administration accuracy, the effectiveness
keuangan. Unit internal audit telah mengevaluasi sistem and efficiency in Accounting and Finance units; observed the
kerja, ketepatan administrasi, efektivitas dan efisiensi di unit policy and internal procedures of the Company, including
Akuntansi dan Keuangan; memantau kebijakan dan prosedur routine checking on the Company assets, offered advices to
internal perusahaan, pemeriksaan rutin terhadap aset maximize the communication between departments, to
perusahaan, dan memberikan masukan untuk enhance the efficiency. To perform its duties, the Audit
memaksimalkan komunikasi antar departemen, sehingga Internal unit has coordinated with the Audit Committee.
efisiensi dapat ditingkatkan lagi. Dalam melakukan tugasnya,
Unit Internal Audit telah berkoordinasi dengan Komite Audit.
SEKRETARIS PERUSAHAAN CORPORATE SECRETARY
Profil Singkat Sekretaris Perusahaan: Brief profile of the Corporate Secretary:

Sekretaris Perusahaan dijabat oleh Melynda PrayogoPrayogo, Melynda Prayogo was appointed as Corporate Secretary of
berdasarkan surat penunjukkan oleh Direksi Perseroan sejak the Company, based on DirectorÊs appointment letter since 1
tanggal 1 Maret 2016. Berdomisi di Sidoarjo, Jawa Timur, March 2016. Domiciled in Sidoarjo, East Java, she joined
dan bergabung dengan Kelompok Usaha Maspion sejak Maspion Group since 1998, and has graduated in manage-
tahun 1998. Meraih gelar Magister Manajemen dari IPMI ment study from the IPMI International Business School,
International Business School, Indonesia pada tahun 1997. Indonesia in 1997.
Pelaksanaan tugas Sekretaris Perusahaan di tahun 2016 The Activity of the Corporate Secretary during 2016 in Brief
Sepanjang 2016, Sekretaris Perusahaan telah melaksanakan During the year of 2016, the Corporate Secretary has carried
tugas dan tanggung jawab sesuai dengan peraturan yang out the duties and responsibilities in accordance with the
berlaku, di antaranya: governed rules as follows:
1. Melakukan penyusunan buku Laporan Tahunan 2015; 1. Prepare the 2016 Annual Report of the Company;
2. Melakukan koordinasi dalam penyelenggaraan RUPS 2. Coordinate the 2016 Annual GMS of the Company including
Tahunan untuk tahun buku 2015 dan penyelenggaraan the Public Expose and Press Conference on 29 June 2016;
Paparan Publik dan Jumpa Pers pada tanggal 29 Juni 2016; 3. Coordinate the information disclosure in the web site of the
3. Mengkoordinasikan penyampaian informasi dalam situs Company;
Perseroan; 4. Coordinate the Company reports and correspondences
4. Melakukan koordinasi terhadap laporan-laporan Perseroan with the Financial Service Authority (OJK) and Indonesia
dan korespondensi dengan Otoritas Jasa Keuangan dan Stock Exchange;
Bursa Efek Indonesia 5. Coordinate any other activities related to the Corporate
5. Melakukan koordinasi terhadap aktivitas lain yang Secretary duties.
berhubungan dengan tugas-tugas Sekretaris Perusahaan.

Pelatihan Sekretaris Perusahaan Corporate Secretary Attended Trainings

Beberapa pelatihan, seminar dan sosialisasi yang pernah Some trainings, seminars, and socialization attended by the
diikuti oleh Sekretaris Perusahaan selama 2016 adalah Corporate Secretary during 2016:
sebagai berikut: 1. Workshop on Information Disclosure of Issuers and Public
1. Workshop Keterbukaan Informasi Emiten dan Perusahaan Company by OJK.
Publik yang diselenggarakan oleh OJK. 2. Socialization of IDXNet E-Reporting system by Indonesia
2. Sosialisasi Peraturan Pencatatan dan Pelatihan Sistem Stock Exchange.
Pelaporan IDXNet (e-Reporting). 3. Socialization of Corporate Governance and Annual Report
3. Sosisalisasi Pedoman Tata Kelola Perusahaan dan Laporan of Issuers by OJK.
Tahunan Emiten oleh OJK. 4. Socialization of Tax Amnesty coordinated by the Banks
4. Sosialisasi Tax Amnesty yang dikoordinasikan oleh pihak 5. Socialization of other OJK rules and regulations, and Global
Perbankan. Economics seminars by the Banks
5. Sosialisasi Peraturan OJK yang lain dan Seminar Kondisi
Ekonomi oleh pihak Perbankan.
SISTEM PENGENDALIAN INTERNAL INTERNAL CONTROL SYSTEM

Dalam rangka menerapkan sistem pengendalian internal, In order to implement the internal control system, the company
Perseroan terus berupaya melaksanakan sistem kontrol yang strives to conduct the control system continuously upon the
berkesinambungan dengan memberdayakan sumber daya utilization of the existing resources, including the financial
yang ada, diantaranya sistem kontrol keuangan, kegiatan control system, operational in production and in
operasional produksi dan administrasi. Perseroan administration. The company has implemented the policies
menerapkan kebijakan-kebijakan dan prosedur-prosedur and procedures in every operational activities, which is taken
dalam setiap kegiatan operasional, sehingga secara otomatis care of by existing built in system.
dapat terkontrol oleh sistem yang ada.
MANAJEMEN RESIKO RISK MANAGEMENT

Sebagaimana halnya dengan bidang usaha lain, Perseroan Similar to other businesses, the Company is not isolated from
juga tidak terlepas dari resiko-resiko usaha yang dipengaruhi business risks that are influenced by external and internal
oleh faktor-faktor eksternal maupun internal yang dapat factors which may impact the Company business:
mempegaruhi kinerja Perseroan, antara lain:
1. Pasokan dan harga bahan baku utama yang berfluktuasi. 1. Supply and the fluctuation of main raw material prices
Untuk mengatasi hal tersebut, Perseroan berusaha untuk To overcome these issues, the company tried to reduce its
mengurangi ketergantungan pada satu pemasok, membina dependence on one supplier, maintain good relationship and
hubungan baik dan membeli dari berbagai pemasok, baik purchase from various suppliers, both foreign and domestic
luar negeri maupun dalam negeri.
2. Produk Substitusi 2. Substitution Products

Saat ini terdapat beberapa bahan substitusi aluminium Currently there are several substitution materials of
seperti besi, stainless steel, seng untuk atap bangunan aluminum; i.e steel, stainless steel, zinc for the industrial
industri, dan plastik untuk bahan kemasan. Untuk roofing, and plastic for packaging material. To reduce this risk,
mengurangi resiko ini, Perseroan berusaha untuk tetap the Company continues to promote the quality and
mengedepankan kualitas dan karakteristik dari produk yang characteristics of its products. However, the company
dihasilkan. Perseroan berkeyakinan bahwa masing-masing believes each material type has different characteristics and
bahan tetap memiliki jenis dan karakteristik yang berbeda its own excellence over the others.
dan memiliki keunggulannya masing-masing.

3. Persaingan Usaha 3. Business competition

Produk aluminium sheet dan foil memiliki pasar yang beraneka Aluminum sheet and foil products have diverse markets and
ragam dan tingkat persaingan yang tinggi. Pesaing utama high level of competition. The Company's major competitors in
Perseroan, terutama dari negara China, mendapatkan subsidi export market especially from China, have been subsidized by
ekspor dalam bentuk pengembalian pajak dari Pemerintah China, the government with export tax rebate scheme. To face this
Dalam menghadapi resiko ini, Perseroan telah beberapa kali risk, the Company has several times expanded the capacity to
melakukan ekspansi kapasitas untuk meraih efisiensi dalam hal achieve efficiency in production costs in order to compete in
biaya produksi agar dapat bersaing di pasar global. Perseroan the global market. The Company also tries to improve its
juga mengupayakan untuk meningkatkan kontrol kualitas, quality control, diversity of products, delivery, services and
efisiensi biaya, keragaman produk, pengiriman, pelayanan dan distribution capabilities.
kemampuan distribusi.
4. Resiko Kredit dan Likuiditas 4. Credit and Liquidity Risk

Adanya krisis komoditas telah menimbulkan penurunan The existence of global commodity crisis has negatively
perspektif dari para kreditur terhadap industri logam. Hal ini impacted creditorsÊ perspective on metal industry, and may
dapat mengakibatkan terbatasnya fasilitas kredit dari influence the credit facilities of the Company. To minimize this
Perseroan. Untuk mengatasi resiko ini, Perseroan telah risk, the Company has gained the full support from its Group,
mendapatkan dukungan penuh dari Grup Perseroan, dan and the commitment of the controlling shareholders.
komitmen dari para pemegang saham pengendali.
5. Dampak Lingkungan 5. Environmental Impacts

Proses produksi Perseroan menghasilkan limbah padat dan The CompanyÊs production process generates gas and solid
gas. Kelestarian lingkungan dan pengontrolan polusi diatur waste. Environmental sustainability and pollution control is
oleh Bapedal (Badan Pengendalian Dampak Lingkungan) , governed by BAPEDAL (Environmental Impact Control
dan ada resiko perubahan peraturan. Untuk itu Perseroan Agency), and there is a risk on regulatory changes. Therefore,
tetap mengedepankan prinsip kehati-hatian dalam the Company would still emphasizes the precautionary
pengelolaan limbah. principle in waste treatment management.
6. Resiko Fluktuasi Kurs Mata Uang Asing 6. Risk on Foreign Currency Fluctuation
Perseroan memiliki hutang bank dalam mata uang asing, dan The Company has bank loans in foreign currency, and any
apabila terdapat fluktuasi kurs Rupiah terhadap mata uang fluctuation on Rupiah exchange rate against the foreign
asing, akan ada resiko kenaikan beban bunga dan pinjaman currencies, may increase the risk of higher interest expense
dari Perseroan, dan dapat mempengaruhi pendapatan dari and outstanding of the loan, and may affect the income of the
Perseroan. Untuk itu Perseroan berupaya menjaga Company. The Company strives to maintain a balance on the
keseimbangan mata uang antara aktiva dan liabilitas, dan assets and liabilities currencies, and minimize the exposures
menimalisasi eksposur terhadap selisih kurs mata uang to foreign exchange rate differences.
asing.
7. Perubahan Kebijakan Pemerintah 7. Government Policy Changes

Perubahan kebijakan Pemerintah Indonesia tterhadap bea Any changes on the Government of Indonesia policies on
masuk produk Aluminium dapat mempengaruhi biaya aluminium import duties may affect production costs and
produksi dan pendapatan Perseroan. Untuk itu Perseroan revenues of the Company. Therefore, the Company seeks to
berupaya untuk menjaga efisiensi produksi dan biaya lain, maintain the efficiency of production and other expenses, to
agar perubahan kebijakan tidak berpengaruh negatif minimize those effects on the CompanyÊs income.
terhadap pendapatan Perseroan.

TINJAUAN ATAS EFEKTIVITAS SISTEM MANAJEMEN REVIEW ON THE EFFECTIVENESS OF RISK MANAGEMENT
RISIKO DAN PENGENDALIAN INTERNAL PERUSAHAAN SYSTEM AND INTERNAL CONTROL OF THE COMPANY
Identifikasi dan evaluasi atas risiko dilakukan Perseroan Risk identification and evaluation are conducted through each
melalui masing-masing departemen. Direksi bersama-sama department. Board of Directors together with Internal Audit
dengan Unit Internal Audit dan Dewan Komisaris yang Unit and Board of Commissioners that are represented by
diwakili oleh Komite Audit melakukan kajian dan Audit Committee review and formulate necessary risk
merumuskan strategi pengelolaan dan mitigasi yang strategy and mitigation.
diperlukan.
Penerapan dan efektivitias sistem manajemen resiko dan The management views that the implementation of risk
pengendalian internal dinilai oleh pihak Manajemen cukup management systems and internal controls, is adequate given
baik mengingat kondisi dan kompleksitas dari Perseroan, the circumstances and complexity of the Company, including
termasuk di dalamnya pengendalian keuangan, operasional financial control, operational and regulatory compliance, as
dan kepatuhan terhadap peraturan perundang-undangan, well as risk management systems. However, the management
serta sistem manajemen risiko. Namun demikian manajemen still puts effort to improve the quality of implementation of
tetap berupaya agar kualitas penerapan praktik Tata Kelola corporate governance practices, including risk management
Perusahaan, termasuk manajemen resiko dan pengendalian and internal control.
intern dapat lebih ditingkatkan.
Perkara Penting dan Sanksi Administratif Substantial Case and Administrative sanction
Selama tahun 2016, tidak ada perkara penting yang sedang During 2016 there was no any substantial case nor
dihadapi ataupun sanksi administratif yang dikenakan administrative sanction associated with the company or the
kepada Perseroan, maupun setiap anggota Dewan members of the Boards of Commissioners and Directors.
Komisaris atau Direksi Perseroan.
KODE ETIK DAN BUDAYA PERUSAHAAN CODE OF ETHIC AND CORPORATE CULTURE
Kode etik dan budaya perusahaan merupakan pedoman The code of ethic and corporate culture which are the
perilaku bagi seluruh karyawan, yang wajib dipatuhi dan juga guidance for all employees in term of behaviour -are to be
berlaku bagi anggota Dewan Komisaris dan Direksi. Setiap obeyed by the Board of Commissioners and Directors as well.
karyawan perlu memahami dan memegang nilai-nilai budaya Every employee needs to know and upholds the values of
perusahaan, diantaranya meliputi : Profesionalisme, corporate culture, such as principles of honesty,
Kejujuran, Kepatuhan terhadap peraturan dan kebijakan professionalism, obedience against companyÊs rules and
Perseroan, Kepedulian, Kedisiplinan, dan selalu berusaha policies, awareness, discipline and constantly trying to
untuk memberikan yang terbaik perform the best in conducting their tasks and responsibilities..

Sosialisasi yang dilakukan di dalam Perusahaan sampai saat The socialization has been done informally on every aspect of
ini dilakukan dengan cara informal di setiap aspek Perseroan. the Company. Each employee has to remind each other of the
Masing-masing karyawan diharapkan saling mengingatkan urgency to behave according to the companyÊs code of ethic.
akan pentingnya berperilaku sesuai dengan kode etik
perusahaan. It is necessary for each department leader to make sure that
their subordinates obey the companyÊs code of ethic.
Setiap pimpinan dalam departemen perlu memastikan bahwa
setiap karyawan dalam lingkup kepemimpinannya telah
mematuhi kode etik perusahaan tersebut.
URAIAN MENGENAI SISTEM PELAPORAN PELANGGARAN BRIEF DESCRIPTION ON WHISTLE-BLOWING SYSTEM

Sistim Pelaporan Pelanggaran di dalam Perseroan dilakukan The Whistle-Blowing system in the Company is flexibly
secara fleksibel, tetapi tetap berpegang pada prinsip-prinsip implemented, but still adheres on the basic principles of Good
dasar pelaksanaan Tata Kelola Perusahaan yang baik. Corporate Governance implementation. This system is
Sistem ini diperlukan agar dapat menjadi fasilitas bagi semua required to facilitate for all parties to make reports on ethics
pihak agar dapat melakukan pengaduan dalam Perusahaan. and law violation in the Company. Reports or violation
Pengaduan atau penyingkapan pelanggaran dilakukan disclosures is implemented by way of medias or other
dengan memanfaatkan media atau sarana telekomunikasi telecommunication tools, which include telephone, email or
seperti telepon, handphone dan email perusahaan, maupun mobile phone of the company, or by way of direct reports,
disampaikan secara langsung tanpa media perantara. without any intermediary.
Kewenangan atas pelaksanaan sistem ini dipegang oleh The authority of this system implementation held by Board of
Dewan Komisaris dan Direksi, termasuk pada pengenaan Commissioners and Board of Directors, including the
sanksi terhadap pelaku dan perlindungan terhadap pelapor. imposition of sanctions against the violators and the protection
Di tahun 2016, tidak ada pengaduan atau laporan yang of the whistle-blower. In 2016, there were no reports or
masuk dan ditangani oleh Perseroan. violation disclosures to the Management of the Company.
Program Kepemilikan Saham oleh Karyawan dan Employee and Management Share Ownership Program
Manajemen In 2016, there was no employee and management share
Di tahun 2016 belum terdapat program kepemilikan saham onwership progam provided by the Company
oleh karyawan dan/atau manajemen yang dilaksanakan
Perseroan
Penerapan Atas Pedoman Tata Kelola Perusahaan

Implementation on Corporate Governance Guidelines
No Rekomendasi | Recommendation Keterangan | Explanation

A. Hubungan Perusahaan Terbuka Dengan Pemegang Saham Dalam Menjamin Hak-Hak Pemegang Saham
Relationship of Public Company with the Shareholder in Ensuring the ShareholdersÊ Rights Parameter
Prinsip 1 : Meningkatkan Nilai Penyelenggaran Rapat Umum Pemegang Saham (RUPS)

Improving the value of General Meeting of Shareholders (GMS) Convention Principle
1.1 Perusahaan Terbuka memiliki cara atau prosedur teknis Memenuhi

pengumpulan suara (voting) baik secara terbuka Comply
maupun tertutup yang mengedepankan independensi,
dan kepentingan pemegang saham. Sumber dokumen: Ringkasan Risalah dan Tata Tertib Rapat
Public company has technical procedures for opened Umum Pemegang Saham Perseroan
or closed voting that promote independency and Source of documents: The summary of Minutes of General
Shareholders interest. Meeting of Shareholders and The Code of Conduct of the
Meeting
1.2 Seluruh anggota Direksi dan anggota Dewan Komisaris Tidak Memenuhi
Perusahaan Terbuka hadir dalam RUPS Tahunan. Not Comply
All members of the Directors and Board of
Commissioners are present at Annual GMS. Ada 2 (dua) orang anggota Dewan Komisaris yang tidak
hadir karena alasan kesehatan, dan 1 (satu) anggota Direksi
karena keperluan penting Perusahaan di luar negeri.
Namun hal-hal terkait RUPS telah diberitahukan.
Two members of Board of Commissioners were absent due
to health reasons, and one Director was on important
overseas business trip, however Important matters of GMS
has been reported.
1.3 Ringkasan Risalah RUPS tersedia dalam Situs Web Memenuhi

Perusahaan Terbuka paling sedikit selama 1(satu) Comply
tahun.
Summary of GMS Minutes is available on Public
CompanyÊs website by no less than 1 (one) year.
Prinsip 2: Meningkatkan Kualitas Komunikasi Dengan Pemegang Saham atau Investor

Improving Communication Quality of Public Company with Shareholders or Investors Principle
2.1 Perusahaan Terbuka memiliki suatu kebijakan Memenuhi

komunikasi dengan pemegang saham atau investor. Comply
Public company has a communication policy with
shareholders or investors.
2.2 Perusahaan Terbuka mengungkapkan kebijakan Tidak Memenuhi

komunikasi Perusahaan Terbuka dengan pemegang Not Comply
saham atau investor dalam Situs Web.
Public company discloses its communication policy Kebijakan komunikasi ini tidak khusus, dan telah
with Shareholders or Investor in website. didasarkan pada Anggaran Dasar Perseroan dan
prinsip-prinsip dasar Tata Kelola Perusahaan, serta
mempertimbangkan kondisi, struktur dan kompleksitas
dari Perseroan.
This communication policy is not specific, and has referred
to the CompanyÊs Articles of Association, basic principles
of Corporate Governance and also has considered the
current condition and complexity of the Company.

B. Fungsi dan Peran Dewan Komisaris

Board of Commissioners' Function and Role
Prinsip 3 : Memperkuat Keanggotaan dan Komposisi Dewan Komisaris

Strengthening the Membership and Composition of Board of Commissioners Principle
3.1 Penentuan jumlah anggota Dewan Komisaris Memenuhi

mempertimbangkan kondisi Perusahaan Terbuka. Comply
Determination of number of Board of CommissionersÊ
member shall consider the condition of Public Perseroan memiliki anggota Dewan Komisaris 4 (empat)
Company. orang, dan 2 (dua) diantaranya Komisaris Independen.
Komposisi ini memperhatikan Anggaran Dasar Perseroan,
Regulasi OJK dan juga kondisi internal Perseroan.
The Company has 4 (four) members of Board of
Commissioners, and 2(two) of them are Independent
Commissioners. This composition decision was made
based on the Company Articles of Association, OJK rules,
and internal condition of the Company
3.2 Penentuan komposisi anggota Dewan Komisaris Memenuhi

memperhatikan keberagaman keahlian, pengetahuan, Comply
dan pengalaman yang dibutuhkan.
Determination of Composition of Board of CommissionersÊ
member considers the variety of expertise, knowledge, and
experiences required.
Prinsip 4: Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Dewan Komisaris
Improving the Quality of Job and Responsibility Performance of the Board of Commissioners
4.1 Dewan Komisaris mempunyai kebijakan penilaian Memenuhi

sendiri (self assessment) untuk menilai kinerja Dewan Comply
Komisaris.
Board of Commissioners has self assessment policy to
assess the performance of Board of Commissioners.
4.2 Kebijakan penilaian sendiri (self assessment) untuk Memenuhi

menilai kinerja Dewan Komisaris, diungkapkan melalui Comply
Laporan Tahunan Perusahaan Terbuka.
Self-assessment policy to assess the performance of
Board of Commissioners is disclosed in Annual Report
of Public Company.
4.3 Dewan Komisaris mempunyai kebijakan terkait Memenuhi

pengunduran diri anggota Dewan Komisaris apabila Comply
terlibat dalam kejahatan keuangan.
The Board of Commissioners has a policy with respect Kebijakan ini didasarkan pada Anggaran Dasar Perseroan,
to the resignation of the member of the Board of dan kebijakan pelaksanaan Tata Kelola Perusahaan.
Commissioners if such member involved in financial This policy is adhered on the Articles of Association of the
Crime. Company and the Good Corporate Governance
implementation.
4.3 Dewan Komisaris atau Komite yang menjalankan Memenuhi

fungsi Nominasi dan Remunerasi menyusun kebijakan Comply
suksesi dalam proses Nominasi anggota Direksi.
Board of Commissioners or Committee that conduct Sumber: Pedoman Nominasi dan Remunerasi dari
Nomination and Remuneration function arrange Perusahaan.
succession policy in Nomination process of Directors Source: Nomination and Remuneration Charter of the
member. Company.

C. Fungsi dan Peran Direksi

Function and Role of the Board of Directors
Prinsip 5: Memperkuat Keanggotaan dan Komposisi Direksi

Strengthening the Membership and Composition of the Board of Directors
5.1 Penentuan jumlah anggota Direksi mempertimbangkan Memenuhi

kondisi Perusahaan Terbuka serta efektifitas dalam Comply
pengambilan keputusan.
Determination of Number of Board of DirectorsÊ Saat ini Perseroan memiliki 5 (lima) anggota Direksi dan 2
member considers the condition of Public company and (dua) diantaranya adalah Direktur Independen. Penentuan
the effectiveness of decision-making. jumlah dan kompetensi anggota Direksi telah
memperhatikan Anggaran Dasar Peseroan, peraturan OJK,
dan kondisi Perusahaan untuk pengambilan keputusan
yang efektif
The Company has 5(five) Directors, and 2(two) of them are
Independent Directors. The decision on the number and
competency of the Directors has considered the Articles of
Association of the Company and condition for effective
decision making.
5.2 Penentuan komposisi anggota Direksi memperhatikan, Memenuhi

keberagaman keahlian, pengetahuan, dan pengalaman Comply
yang dibutuhkan.
Determination of composition of Board of DirectorsÊ
member considers the variety of expertise, knowledge,
and experience required.
5.3 Anggota Direksi yang membawahi bidang akuntansi atau Memenuhi

keuangan memiliki keahlian dan/atau pengetahuan di Comply
bidang akuntansi.
Member of Board of Directors who is liable for accounting
or finance has accounting expertise and/or knowledge.
Prinsip 6: Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Direksi

Improving the Quality of Job and Responsibility Performance of Board of Directors
6.1 Direksi mempunyai kebijakan penilaian sendiri (self Memenuhi

assessment) untuk menilai kinerja Direksi. Comply
Board of Directors has self-assessment policy to
assess performance of Directors.
6.2 Kebijakan penilaian sendiri (self assessment) untuk Memenuhi

menilai kinerja Direksi diungkapkan melalui laporan Comply
tahunan Perusahaan Terbuka.
Self-assessment policy to assess the performance of
Board of Directors is disclosed in Annual report of
public company.
6.3 Direksi mempunyai kebijakan terkait pengunduran diri Memenuhi

anggota Direksi apabila terlibat dalam kejahatan Comply
keuangan.
Directors have a policy related to resignation of Board Kebijakan ini didasarkan pada Anggaran Dasar Perseroan,
of Directors member if involved in financial crimes. dan kebijakan pelaksanaan Tata Kelola Perusahaan.
This policy is adhered on the Articles of Association of the
Company and the Good Corporate Governance
implementation.

D. Partisipasi Pemangku Kepentingan

Participation of StakeholdersÊ Parameter
Prinsip 7: Meningkatkan Aspek Tata Kelola Perusahaan melalui Partisipasi Pemangku Kepentingan
Improving Corporate Governance Aspect Through Participation of StakeholdersÊ Principle
7.1 Perusahaan Terbuka memiliki kebijakan untuk mencegah Memenuhi

terjadinya insider trading. Comply
Public company has a policy to prevent insider trading.
Kebijakan ini bersifat tidak formal mengingat kondisi dan
kompleksitas Perseroan.
This policy is informal due to the current condition and
complexity of the Company.
7.2 Perusahaan Terbuka memiliki kebijakan anti korupsi dan Memenuhi

anti fraud. Comply
Public company has anti corruption and anti fraud policy.
Secara umum dituangkan dalam Kode Etik dan Budaya
Perusahaan.
Generally has been outlined in the Code of Conducts and
Culture of the Company.
7.3 Perusahaan Terbuka memiliki kebijakan tentang seleksi Memenuhi

dan peningkatan kemampuan pemasok atau vendor. Comply
Public company has policies concerning selection and
capability improvement of suppliers and vendors. Kebijakan ini dikelola secara sentral oleh Grup Perusahaan,
termasuk diantaranya kriteria pemasok dan kewajiban adanya
pemasok pembanding di pasar, dan komunikasi yang lebih baik
terhadap vendor tentang kriteria produk yang disuplai agar vendor
dapat menyuplai dengan lebih baik.
This policy is managed centrally by the Group of the Company,
including criterias for suppliers and requirement of benchmark in
the market, and better communication to vendors on products
being supplied, enable the vendors to have a better supply
capability.
7.4 Perusahaan Terbuka memiliki kebijakan tentang Memenuhi

pemenuhan hak-hak kreditur. Comply
Public company has a policy concerning the fulfillment of
creditor's rights. Kebijakan manajemen ini dilaksanakan oleh departemen
keuangan.
This management policy is conducted by Finance Department.
7.5 Perusahaan Terbuka memiliki kebijakan sistem Memenuhi

whistleblowing. Comply
Public company has a policy of whistleblowing system.
Kebijakan ini bersifat informal, dan sebagian sudah tertuang
dalam kode etik dan budaya Perseroan.
This policy is still informal, and partially outlined in the Code of
Conduct and Culture of the Company.
7.6 Perusahaan Terbuka memiliki kebijakan pemberian Memenuhi

insentif jangka panjang kepada Direksi dan karyawan. Comply
Public company has long-term incentive policy for
Directors and employees. Kebijakan ini diputuskan oleh Direksi Perseroan diantaranya
pemberian insentif berupa bonus kepada karyawan dengan
tahun pengabdian yang memenuhi syarat tertentu.
This policy is decided by the Directors of the Company, and
one of them is incentive / bonus for employees with qualified
years of service.

E. Keterbukaan Informasi
Information Disclosure
Prinsip 8: Meningkatkan Pelaksanaan Keterbukaan Informasi

Improving the Implementation of Information Disclosure Principle
8.1 Perusahaan Terbuka memanfaatkan penggunaan Memenuhi

teknologi informasi secara lebih luas selain Situs Web Comply
sebagai media keterbukaan informasi.
Public Company takes benefit from the application of a
broader information technology other than website as
information disclosure media.
8.2 Laporan Tahunan Perusahaan Terbuka mengungkapkan Memenuhi

pemilik manfaat akhir dalam kepemilikan saham Comply
Perusahaan Terbuka paling sedikit 5% (lima persen),
selain pengungkapan pemilik manfaat akhir dalam
kepemilikan saham Perusahaan Terbuka melalui
pemegang saham utama dan pengendali.
Annual Report of public company discloses beneficial
owner in share ownership of public company of at least
5% (five percent), other than disclosure of beneficial
owner in share ownership of public company through
major and controlling shareholders.
tanggung jawab sosial perusahaan

Corporate Social Responsibility
Dalam rangka usaha penerapan salah satu aspek Tata To implement one of GCG points, Alumindo has the
Kelola Perusahaan, Alumindo senantiasa berkomitmen untuk commitment to carry out the social responsibility such as:
melaksanakan Tanggung Jawab Sosial, sebagai berikut:
Lingkungan Hidup Environmental Sector

- Pada proses peleburan dan proses pemanasan, - In the casting and heating process, the usage of the natural
penggunaan gas alam yang lebih ramah lingkungan gas which is eco-friendly over other more polluting fosil fuel
dimaksimalkan dan pada saat yang sama mengurangi has been optimized.
penggunaan bahan bakar yang cenderung memberikan Handling production waste thoroughly in order to avoid
dampak polusi yang berlebih. contamination of the environment and reporting through
- Penanganan limbah dengan saksama, agar tidak - UKL/UPL regularly.
mencemari lingkungan dan pelaporan UKL/UPL dilakukan
dengan rutin.
Ketenagakerjaan Employment sector

- Mengutamakan keselamatan kerja di pabrik, dengan - Promoting work place safety by the use of personal
mengharuskan penggunaan pelindung saat bekerja dan protective equipment and providing relevant training on
memberikan pelatihan-pelatihan terkait keselamatan kerja work safety to minimize accident.
untuk meminimalisir kecelakaan kerja yang dapat terjadi. - Paying attention to the employee welfare by providing
- Memperhatikan kesejahteraan karyawan, dengan facilities to support their welfare and protection.
menyediakan fasilitas-fasilitas yang mendukung - Poviding the opportunities for internships to students from
kesejahteraan dan perlindungan karyawan. Indonesian vocational schools and universities.
- Memberikan kesempatan magang atau praktek kerja bagi
siswa dan mahasiswa dari berbagai sekolah dan
perguruan tinggi di Indonesia.
tanggung jawab sosial perusahaan

Corporate Social Responsibility
Pengembangan sosial dan kemasyarakatan: Society and social development

- Donor darah masal setiap tiga bulan sekali dengan - Mass blood donors action on quarterly basis by engaging
mengikutsertakan staf dan karyawan Perseroan. the staffs and employees
- Kepedulian Sosial dengan berpartisipasi dalam - Social awareness by participating on donation to the
memberikan sumbangan untuk masyarakat yang society who were affected by the natural disaster.
terdampak oleh bencana alam. - Basic needs donation for the poor community on special
- Pembagian kebutuhan bahan pokok kepada masyarakat days.
yang kurang mampu pada hari-hari besar tertentu. - Having a positive impact to the economy of the inhabitant
- Turut memberikan dampak positif terhadap ekonomi located surroundings the company, by their establishment
warga sekitar lokasi Perseroan, dengan adanya of small informal businesses with CompanyÊs employees as
kesempatan berusaha bagi warga sekitar dengan major customers.
karyawan Perseroan sebagai konsumen utama.
Tanggung jawab produk ProductÊs responsibility

- Produk yang dipasarkan Perseroan tidak memberikan - Products sold by the company does not lead to negative
dampak buruk bagi kesehatan konsumen. impact to health.
informasi lainnya
Other Information
Informasi lebih lanjut terkait dengan Alumindo dapat Other information concerning Alumindo is available through
diperoleh dengan menghubungi alamat berikut ini: the following address:
PT Alumindo Light Metal Industry Tbk

Corporate Secretary Department
Gedung Maspion Lt.7, Jl. Kembang Jepun 38-40, Surabaya 60162 - Indonesia
Phone: +62 31 35314445, 3541040 | Facs: +62 31 3533055, 3533218
Email: cs@alumindo.com
pernyataan atas laporan tahunan

Statement on The Annual Report
Dalam rangka memenuhi ketentuan Bapepam-LK mengenai In fulfilling the regulatory requirement of Bapepam-LK
bentuk dan isi Laporan Tahunan, bersama ini seluruh concerning the form and content of the Annual Report, the
anggota Dewan Komisaris dan Direksi menyatakan Boards of Commissioners and Directors herewith confirm the
pertanggungjawaban atas kebenaran presentasi isi Laporan accuracy of this Annual Report presentation.
Tahunan ini.
PT ALUMINDO LIGHT METAL INDUSTRY Tbk
Laporan Keuangan
Untuk tahun yang berakhir pada tanggal-tanggal
31 Desember 2016, dan 2015
Financial Statements
For the years ended December 31, 2016, and 2015
PT ALUMINDO LIGHT METAL INDUSTRY Tbk.
Member of Maspion Group
SURAT PERNYATAAN DIREKSI DIRECTORS’ STATEMENT LETTER

TENTANG RELATING TO
TANGGUNG JAWAB ATAS LAPORAN KEUANGAN THE RESPONSIBILITY ON THE FINANCIAL
UNTUK TAHUN YANG BERAKHIR PADA TANGGAL STATEMENTS FOR THE YEAR ENDED
31 DESEMBER 2016, DECEMBER 31, 2016
P.T. ALUMINDO LIGHT METAL INDUSTRY, Tbk P.T. ALUMINDO LIGHT METAL INDUSTRY, Tbk
Kami yang bertanda tangan di bawah ini: We, undersigned:
1. Nama : Alim Markus 1. Name : Alim Markus

Alamat Kantor : Ds. Sawotratap, Gedangan, Office Address : Ds. Sawotratap, Gedangan,
Sidoarjo Sidoarjo
Alamat domisili sesuai KTP/identitas lain: Domicile as stated in ID Card:
Jl. Embong Tanjung No. 5, Jl. Embong Tanjung No. 5,
Surabaya Surabaya
Nomor Telepon : 031-3530333 Phone Number : 031-3530333
Jabatan : Presiden Direktur Position : President Director
2. Nama : Welly Muliawan 2. Name : Welly Muliawan

Alamat Kantor : Ds. Sawotratap, Gedangan, Office Address : Ds. Sawotratap, Gedangan,
Sidoarjo Sidoarjo
Alamat domisili sesuai KTP/identitas lain: Domicile as stated in ID Card:
Jl. Kencanasari Timur Jl. Kencanasari Timur
10 / J.39, Surabaya 10 / J.39, Surabaya
Nomor Telepon : 031-8531531 Phone Number : 031-8531531
Jabatan : Direktur Position : Director
Menyatakan bahwa : State that :
1. Kami bertanggung jawab atas penyusunan dan penyajian 1. We are responsible for the preparation and
laporan keuangan; presentation of the financial statements;
2. Laporan keuangan telah disusun dan disajikan sesuai 2. The financial statements have been prepared and
dengan Standar Akuntasi Keuangan di Indonesia; presented in accordance with Financial Accounting
Standard in Indonesia;
3. a. Semua informasi dalam laporan keuangan telah dimuat 3. a. All information contained in the financial statements
secara lengkap dan benar; is complete and correct;
b. Laporan keuangan tidak mengandung informasi atau b. The financial statements do not contain misleading
fakta material yang tidak benar, dan tidak material information or facts, and do not omit
menghilangkan informasi atau fakta material; material information and facts;
4. Kami bertanggung jawab atas sistem pengendalian intern 4. We are responsible for Company’s internal control
dalam Perusahaan. system.
Demikian pernyataan ini dibuat dengan sebenarnya. This statement letter is made truthfully.
Surabaya, 27 Maret 2017 / March 27, 2017
Presiden Direktur / Direktur /

President Director Director
Sawotratap, Gedangan, Sidoarjo - 61254 - Indonesia

P.O. Box 1222 Surabaya - 60012 - Indonesia
Phone : (031) 853 2994 / 853 1531 / 853 2208, Fax : (031) 853 2608
Email : admin@alumindo.com
Daftar Isi / Table of Contents
Laporan Auditor Independen / Independent Auditors' Report
Halaman / page
Laporan Keuangan / Financial Statements
Laporan Posisi Keuangan / Statements of Financial Position 53 - 54
Laporan Laba Rugi dan Penghasilan Komprehensif Lain / 55

Statements of Profit or Loss and Other Comprehensive Income
Laporan Perubahan Ekuitas / Statements of Changes in Equity 56
Laporan Arus Kas / Statements of Cash Flows 57 - 58
Catatan atas Laporan Keuangan / Notes to Financial Statements 59 - 121

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HEAD OFFICE :
Jl. Kembang Jepun No. 38 - 40,
Surabaya 60162, Indonesia
Phone : (62 - 31) 353 1445, 353 1040
Fax : (62 - 31) 353 3055, 353 3218
AKUNTAN PUBLIK | PUBLIC ACCOUNTANT

Paul Hadiwinata, Hidajat, Arsono,
Achmad, Suharli & Rekan
Jl. Ngagel Jaya 90, Surabaya
Tel: (62-31) 5012 161 | Fax: (62-31) 5012 335
BIRO ADMINISTRASI EFEK | SHARE REGISTRAR

PT Adimitra Jasa Korpora
Kirana Boutique Office Blok F3 No. 5
Jl. Kirana Avenue III, Kelapa Gading - Jakarta 14250
Phone: +62 21 2974 5222, Fax: +62 2928 9961
Email: opr@adimitra-jk.co.id
ALAMAT EMAIL | EMAIL ADDRESS :

cs@alumindo.com
SITUS INTERNET | WEBSITE ADDRESS :

http://www.alumindo.com
PT ALUMINDO LIGHT METAL INDUSTRY TBK
Sawotratap, Gedangan
Sidoarjo 61254, Indonesia
Phone : (62 - 31) 853 1531
Fax : (62 - 31) 853 2608
HEAD OFFICE
Jl. Kembang Jepun No. 38 - 40,
Surabaya 60162, Indonesia
Phone : (62 - 31) 353 0333, 353 1445
Fax : (62 - 31) 353 3055, 353 3218
BRANCH OFFICE
Maspion Plaza, 15 - 17 Floor
Jl. Gunung Sahari Kav. 18
Jakarta 14420, Indonesia
Phone : (62 - 21) 6470 1000
Fax : (62 - 21) 6470 1025
The Sooutth East Asiia Leading

Flat Rolled Aluminium Maanufacturer

ALMI Financial Report 2016 (Audited) PDF

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2016

Ikhtisar Keuangan dan Informasi Saham

Pendapatan / Nilai Penjualan 3.336.088 3.333.330 2.461.800 Revenue / Sales Amount

Perdagangan Saham per Kuartal / Quarterly Share Trading

Kode Saham ALMI Code of Stock

laporan dewan komisaris

Para Pemangku Kepentingan Yang Terhormat

Tahun 2016 telah menjadi tahun yang penuh tantangan bagi

Terlepas dari peningkatan kinerja yang konsisten dari kuartal

Meskipun demikian, patut dicatat, bahwa Perseroan telah

Dear Our Valued Stakeholders

Despite consistent improving quarterly performance last year

Notably, the Company booked a strong fourth quarter

laporan dewan komisaris

Pandangan Terhadap Prospek Usaha View on Business Outlook by Directors

Penerapan Tata Kelola Perusahaan Corporate governance Implementation

laporan dewan komisaris

Surabaya, April 2017

Prospek Usaha Business Outlook

Penerapan Tata Kelola Perusahaan The implementation of Corporate Governance

Dengan mengedepankan prinsip-prinsip transparansi, By emphasizing on the principles of transparency, accounta-

Bersama Kita Bisa ! Together we can!

Surabaya, April 2017

Alim Markus Ali Mulia

PT Alumindo Light Metal

Kantor Pusat | Head Office

Kantor Perwakilan | Branch Office

Alamat Elektronik | Email

Sekilas Tentang Alumindo Alumindo At A Glance

Kegiatan Usaha Business Activities

Produk Yang Dihasilkan AlumindoÊs Products

produk almi (ALMI Products):

FLAT ROLLED ALUMINIUM

APLIKASI PRODUK JADI (Product Application):

Condensor & Finstock Train Reflector Packaging caps

RAPAT UMUM PEMEGANG SAHAM

KOMITE AUDIT DEWAN KOMISARIS

UNIT AUDIT INTERNAL DIREKSI SEKRETARIS PERUSAHAAN

dewan komisaris | Board of Commissioners

Angkasa Gunardi Go Budiprajogo Supranoto

dewan direksi | Board of Directors

Alim Markus Alim Mulia Sastra

dewan direksi | Board of Directors

Alim Prakasa Welly Muliawan, Lie Soefianto Djunaedi

Karyawan Dan Pengembangan Kompetensi Employees and Competency Development

Sertifikasi Dan Penghargaan Cerrtification and Accolades

lembaga profesi penunjang pasar modal

Akuntan Publik | Public Accountant Biro Administrasi Efek | Share Registrar

Paul Hadiwinata, Hidajat, Arsono, Achmad, PT Adimitra Jasa Korpora

INFORMASI BAGI PEMEGANG SAHAM

Riwayat Pencatatan Saham History of Share Listing

STRUKTUR PEMEGANG SAHAM UTAMA DAN PENGENDALI

PT HUSIN PT MARINDO PT GUNA PT MULINDO PT PRAKINDO

PT Maspion Trading Mariany PT Anugerah InggrianiwaƟ Dwiarta Putra Alim

PT Husin Inv. Diana Alim PT Alim InvesƟndo

Komposisi Pemegang Saham

Jumlah Saham secara keseluruhan 616.000.000 100,00%

analisis dan pembahasan manajemen

TINJAUAN OPERASIONAL OPERATIONAL REVIEW

Pendapatan Per Segmen Revenue By Product Type

KINERJA KEUANGAN KOMPREHENSIF COMPREHENSIVE FINANCIAL PERFORMANCE

analisis dan pembahasan manajemen

Harga Pokok Penjualan Cost of Good Sold