FS SILO 30 June 2021-Updated

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PT SILOAM INTERNATIONAL HOSPITALS Tbk PT SILOAM INTERNATIONAL HOSPITALS Tbk

AND SUBSIDIARIES AND SUBSIDIARIES
Interim Consolidated Financial Statements Interim Consolidated Financial Statements

For the Period of 6 (Six) Months Ended For the 6 (Six) Months Periods Ended
As of June 30, 2021 and 2020 (Unaudited) June 30, 2021 and 2020 (Unaudited)
And for the Year Ended in And For the Year Ended
31 December 2020 (Audited) December 31, 2020 (Audited)
Final Draft/28-Jul-21 Initials:


List of contents Page/ Table of Contents

Page
Board of Directors Statement Directors' Statement Letter
Interim Consolidated Financial Statements Interim Consolidated Financial Statements

For the Period of 6 (Six) Months Ended For the 6 (Six) Months Periods Ended
As of June 30, 2021 and 2020 (Unaudited) June 30, 2021 and 2020 (Unaudited)
Interim Consolidated Statement of Financial Position 1 Interim Consolidated Statements of Financial

Position
Statement of Income and Comprehensive Income 2 Interim Consolidated Statements of Profit or

Other Interim Consolidation Loss and Other Comprehensive Income
Interim Consolidated Statement of Changes in Equity 3 Interim Consolidated Statements of Changes in

Equity
Interim Consolidated Statement of Cash Flows 4 Interim Consolidated Statements of Cash

Flows
Notes to Financial Statements 5 Interim Notes to the Consolidated Financial

Interim Consolidation Statements
Final Draft/ 28-Jul-21 Initials:


STATEMENT OF FINANCIAL POSITION INTERIM CONSOLIDATED STATEMENTS OF
INTERIM CONSOLIDATED FINANCIAL POSITION
30 June 2021 (Unaudited) June 30, 2021 (Unaudited) and
and 31 December 2020 (Audited) December 31, 2020 (Audited)
(In Million Rupiah, except Foreign Currency, (In Millions Rupiah, unless Foreign Currency,
Shares per Unit and Otherwise Stated) Shares per Unit and Otherwise Stated)
June 30/ 31 December/

June 30, December 31,
Notes/ 2021 2020
Notes Rp Rp
ASSET ASSETS
CURRENT ASSETS CURRENT ASSETS
Cash and cash equivalents 3, 10, 34, 35 4, 849,835 907,531 Cash and Cash Equivalents
Accounts receivable 35 10 Trade Receivables
Related Parties 3,607 1,489 Related Parties
Third party 1,529,194 1,097,385 Third Parties
Other Current Financial Assets 5, 10, 35 6 45,443 49,600 Other Current Financial Assets
Supply 272.030 260,918 Inventories
Prepaid Expenses 8 113,627 104,768 Prepaid Expenses
Total Current Assets 2,813,736 2,421,691 Total Current Assets
NON-CURRENT ASSETS NON-CURRENT ASSETS

Down payment 9 505,704 465,870 Advances
5,258 -- Other Financial Assets
Other Financial Assets
Investment in Associates 12 11,300 11,300 Investment in Associates
Fixed assets 13 4,744,093 4,880,079 Property and Equipment
Goodwill 14.a 403.976 403.976 Goodwill
Intangible Assets 14.b 106.812 101,667 Intangible Assets
Deferred tax assets 7.c 25,208 25.104 Deffered Tax Assets
Other Non-Current Assets 11, 35 117.893 118,095 Other Non-Current Assets

Total Non-Current Assets 5,920,244 6.006.091 Total Non-Current Assets
TOTAL ASSETS 8,733.980 8,427,782 TOTAL ASSETS

Total Non-Current Assets
TOTAL ASSET
LIABILITY LIABILITIES
SHORT-TERM LIABILITIES CURRENT LIABILITIES
Accounts payable 15, 35 Trade Payables
Related Parties 10 2,247 1,622 Related Parties
Third party 428,012 328,425 Third Parties
18, 35 100,000 -- Short-Term Bank Loan
Short Term Bank Loans
Accrued Expenses 17, 35 997,533 958,100 Accrued Expenses
Patient Advance 47,060 34,900 Advances from Patients
Tax debt 7.a 150,201 109,504 Taxes Payable
Current Share of Long-Term Liabilities Current Portion of Long Term Liabilities
Bank Debt 18, 35 4,627 4,380 Bank Loans
Lease Liability 19, 35 203.742 98,556 Lease Liabilities
Deferred Earnings on Deferred Gain on Sale and

Sale and Leaseback Transactions 20, 38.a -- -- Leaseback Transactions
Other Short-Term Financial Liabilities 16, 35 94,649 145,987 Other Current Financial Liabilities
Total Short-Term Liabilities 2,028,071 1,681,474 Total Current Liabilities
LONG TERM LIABILITY NON-CURRENT LIABILITIES

Long-Term Bank Debt 18, 35 7,963 10,340 Long-Term Bank Loans
Lease Liability 19, 35 377,348 491.515 Lease Liabilities
Long-Term Employee Benefits Liability 21 173.225 173.225 Long-Term Employment Benefit Liabilities
Deferred Tax Liability 7.c 45,932 52,857 Deferred Tax Liabilities
Total of Long-Term Liabilities 604,468 727,937 Total Non-Current Liabilities
TOTAL LIABILITY 2,632,539 2,409,411 TOTAL LIABILITIES
EQUITY EQUITY
Equity Attributable to Owners of the Equity Attributable to
Parent Issued and Fully Paid Capital: Owners of the Parent Entity
1,625,765,625 Shares as of 30 June 2021 and 31 22 162,576 162,576 Issued and Fully Paid:
December 2020 1,625,765,625 Shares as of
June 30, 2021 and December 31, 2020
Additional Paid-in Capital - Net 23 5,608,921 5,608,921 Additional Paid-in Capital - Net
Treasury Stock 22 (50,034) (50,034) Treasury Shares
Difference in Transaction Value with Non-Controlling Parties 24 (38,534) (38,534) Difference in Value from Non-Controlling Interest
27 6,956 --
Stock Based Payment Reserve Share-based Payment Reserve
Retain earning 345,390 279,834 Retained Earnings
Amount of Equity Attributable to Total Equity Attributable
Parent Entity Owner 6,035,275 5,962,763 to Owners of the Parent Entity
Non-controlling interests 26 66,166 55,608 Non-Controlling Interest
TOTAL EQUITY 6,101,441 6,018,371 TOTAL EQUITY
TOTAL LIABILITIES AND EQUITY 8,733.980 8,427,782 TOTAL LIABILITIES AND EQUITY
The accompanying notes are an integral part of the The accompanying notes form an integral part of these
consolidated financial statements as a whole consolidated financial statements as a whole
1 Initials:

INCOME STATEMENT INTERIM CONSOLIDATED STATEMENTS OF
AND OTHER COMPREHENSIVE INCOME PROFIT OR LOSS AND OTHER
INTERIM CONSOLIDATED COMPREHENSIVE INCOME
For the 6 (Six) Month Period Ended on For the 6 (Six) Months Periods Ended
30 June 2021 and 2020 (Unaudited) June 30, 2021 and 2020 (Unaudited)
6 months/ months
Notes/ 2021 2020
Notes Rp Rp
CONTINUED OPERATION
INCOME 10, 28 3,811,504 2,513,107 REVENUE
COST OF INCOME 29, 39 (2,023,089) (1,556.701) COST OF REVENUE
GROSS PROFIT 1,788,415 956,406 GROSS PROFIT
Operating expenses 10, 30, 39 (1,150,514) (905,224) Operating Expenses
Other Expenses - Net 32 (144,085) (46,244) Others - Net
OPERATING PROFIT 493,816 4.938 PROFIT FROM OPERATION
Interest Earning 31 7,915 4,035 Interest Income

Financial Burden 31 (32,841) (85,875) Financial Charges
Profit Share of Associated Entities 12 -- Share on Profit of Associate
(24)
BEFORE TAX PROFIT
468,890 (76,926)
PROFIT BEFORE TAX
Tax expense 7.b (166.795) (52.446) Tax Expenses
PROFIT FOR THE CURRENT PERIOD 302.095 (129,372) PROFIT FOR THE PERIOD
OTHER COMPREHENSIVE INCOME OTHER COMPREHENSIVE INCOME

Items that will not be reclassified to Profit Items that will not be Reclassified Next
and Loss to Profit or Loss
21 -- -- Remeasurement of Defined Benefit Plan
Remeasurement of Defined Benefit Programs
Postal-Related Income Taxes That Will Not Income Tax Related to Items that will not be
7.c -- -- Reclassified to Profit or Loss
Reclassified to Profit and Loss
OTHER COMPREHENSIVE INCOME OTHER COMPREHENSIVE INCOME
THE CURRENT PERIOD -- -- FOR THE PERIOD
TOTAL COMPREHENSIVE PROFIT TOTAL COMPREHENSIVE INCOME

THE CURRENT PERIOD 302.095 (129,372) FOR THE YEAR
CURRENT PERIOD PROFIT PROFIT FOR THE PERIOD

ATTRIBUTED TO: ATTRIBUTABLES TO:
Parent Entity Owner 291,537 (130.042) Owners of the Parent Entity
Non-controlling interests 10,558 670 Non-Controlling Interest
302.095 (129,372)
TOTAL COMPREHENSIVE PROFIT FOR THE CURRENT PERIOD TOTAL COMPREHENSIVE INCOME
WHICH CAN BE ATTRIBUTED TO: FOR THE PERIOD ATTRIBUTABLE TO:
Parent Entity Owner 291,537 (130,042) Owners of the Parent Entity
Non-controlling interests 10,558 670 Non-Controlling Interest
302,095 (129,372)
EARNINGS PER SHARE (in Full Rupiah) EARNINGS PER SHARE (in Full Rupiah)
Basis, Profit for the Period Attributable to Common Basic, Profit for the Period Attributable
Shareholders to Shareholders of Common Shares of
Parent Entity 33 179.32 (79.99) the Parent Company
2 Initials:
PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES PT SILOAM INTERNATIONAL HOSPITALS Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
30 June 2021 and 2020 (Unaudited) June 30, 2021 and 2020 (Unaudited
Equity Attributable to Owners of the Parent Entity Interest Amount

Capital stock/ Additional Paid-in Capital - Net/ Additional Paid-in Capital Net Treasury Shares/ Score difference Share-based payment Retained Earning Amount/ non-controlling/ Equity/
Capital Stock Agio Shares/ Score difference Score difference Amount/ Treasury Shares Transaction reserve/ Determined Not yet Total Non-controlling Total
Excess of Par Transaction Transaction Total with Party Share-based payments use/ Determined Interest Equity
with Change non-controlling/ reserve Appropriated use/

Entity Equity Difference Unappropriated
under common control/ Child entity/ in Value from
Difference in Difference in Value Transaction
Value from from Change in with
Transactions Equity Transaction Non-Controlling
of Subsidiary Interest
Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp
BALANCE ON JANUARY 1, 2020/
162,576 5,641,373 5,608,921 -- -- 33,515 139,182 5,905.660 46,405 5,952,065

BALANCE AS OF JANUARY 1, 2020 (20,723) (11,729) ` (38,534) ` ` ` `
Changes in Equity for the Period 30 June 2020/
Changes in Equity for the Period June 30, 2020

Profit for the Current Period -- -- -- -- -- -- -- -- -- 670
(130.042) (130.042) (129,372)
BALANCE ON 30 June 2020/
162,576 5,641,373 5,608,921 -- -- 33,515 9.140 5,775.618 47,075 5,822,693

BALANCE AS OF June 30, 2020 (20,723) (11,729) ` (38,534) ` ` ` `
BALANCE ON JANUARY 1, 2021/
162,576 5,641,373 5,608,921 -- 33,515 246,319 5,962,763 55,608 6,018,371

BALANCE AS OF JANUARY 1, 2021 (20,723) (11,729) ` (50,034) (38,534) ` ` ` `
Changes in Equity for the Period 30 June 2021/
Changes in Equity for the Period June 30, 2021

-- -- -- -- -- -- -- 6,956 -- -- 6,956 -- 6,956
Value of employee services
Dividend/ Dividend -- -- -- -- -- -- -- -- -- --
(225,981) (225,981) (225,981)
Profit for the Year / Profit for the Year -- -- -- -- -- -- -- -- -- 291,537 291,537 10,558 302.095
BALANCE AT 30 June 2021/
BALANCE AS OF June 30, 2021 162,576 5,641,373 (20,723) (11,729) 5,608,921 (50,034) (38,534) 6,956 33,515 311,875 6,035,275 66,166 6,101,441
` ` ` ` `
The accompanying notes are an integral part of the consolidated The accompanying notes form an integral part of these
financial statements as a whole consolidated financial statements as a whole
3 Initials:

CASH FLOW STATEMENT INTERIM CONSOLIDATED STATEMENTS OF
INTERIM CONSOLIDATED CASH FLOWS
6 months/ months
Notes/ 2021 2020
Notes Rp Rp
CASH FLOW FROM OPERATING ACTIVITIES CASH FLOWS FROM OPERATING ACTIVITIES
Cash Receipts from Customers 3,270,288 3,480,207 Cash Receipts from Customers
Payment to Supplier (1,235,733) (1,726,850) Payments to Suppliers
Payments to Third Parties and Others (1,546.705) (1,206.682) Payments to Third and Other Parties
Cash Flows Earned from Operations 487,850 546,675 Cash Flows from Operations
Interest Receipt (Payment) - Net 31, 37 2,629 (7,389) Proceed from (Payment of) Interest - Net
Income Tax Payment - Net 7 (131,707) (97,446) Payments of Taxes - Net
Net Cash Flows From Operating Activities 358,772 441,840 Net Cash Provided by Operating Activities
CASH FLOW FROM INVESTMENT ACTIVITIES CASH FLOWS FROM INVESTING ACTIVITIES
Fixed Assets and Software Property and Equipment and Software
Sale 13 11,548 Disposal
Purchase 13, 14.b, 16, 37 (216,720) 5 (144,982) Acquisition
Purchase Advance Payment Advances for Purchase of
Fixed Assets and Others 9 (71,681) (28,254) Property and Equipment and Others
(5,258) -- Purchases of financial assets
Purchase of financial assets
Net Cash Flow Used for Investing Activities (282,111) (173.231) Net Cash Used in Investing Activities
CASH FLOW FROM FUNDING ACTIVITIES CASH FLOWS FROM FINANCING ACTIVITIES
-- (20,665)
Payment of Factoring Liabilities Payment of Factoring Liabilities
Payment of Lease Liability 13, 19, 37 (23,327) (65,623) Payment for Lease Liabilities
25 (209,696) -- Cash Dividends Paid
Cash dividend payment
Bank Loan Payment 18 (2,130) (43,763) Payments for Bank Loans
18 100,000 --
Bank Loan Acceptance Receipt from Bank Loan
Net Cash Flow Net Cash
Used for Funding Activities (135,153) (130.051) Used in Financing Activities
NET INCREASE (DECREASE) NET INCREASE (DECREASE)

CASH AND CASH EQUIVALENTS (58,492) 138,558 IN CASH AND CASH EQUIVALENTS
Exchange Rate Impact on Cash and Effect of Foreign Exchange on Cash and
Cash Equivalent at End of Period 796 596 Cash Equivalents at the End of the Period
CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD 3 907,531 314,062 AT BEGINNING OF THE PERIOD
CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 3 849,835 453.216 AT ENDING OF THE PERIOD
Additional activity information that is not Additional information activities that are not
affect cash flows are presented in Note 37 affecting cash flows presented in Note 37
4 Initials:

NOTES TO FINANCIAL STATEMENTS NOTES TO THE INTERIM CONSOLIDATED
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
1. General 1. General
1.a. Company Establishment 1.a. The Company's Establishment

PT Siloam International Hospitals Tbk PT Siloam International Hospitals Tbk (“the
("Company") was incorporated under the name Company”) was established under the name of PT
PT Sentralindo Wirasta on August 3, 1996 based Sentralindo Wirasta on August 3, 1996 based on
on the Deed of Establishment No. 3 made before the Deed of Establishment No. 3, which was made
Myra Yuwono, SH, Notary in Sukabumi. This deed in the presence of Myra Yuwono, SH, a notary in
of establishment was ratified by the Minister of Sukabumi. The deed of establishment was
Justice of the Republic approved by the Minister of Justice of the Republic
Indonesia in its Decree of Indonesia in his decree No.
No. date C2-8639.HT.01.01.TH.'96, C2-8639.HT.01.01.TH.'96 dated August 27, 1996
27 August 1996 and announced in and was published in the State Gazette No. 97,
State Gazette of the Republic of Indonesia No. 97, Supplements No. 9518 on December 3, 1996.
Additional No. 9518 on December 3, 1996.
The Company's articles of association have been The Company's articles of association have been
amended several times, most recently based on amended several times, and the latest was by
the Deed of Statement of the Resolutions of the Deed of Annual General Meeting of Shareholders
Annual General Meeting of Shareholders No. 90 No. 90 dated April 28, 2021, made in the presence
dated 28 April 2021, drawn up before Sriwi Bawana of Sriwi Bawana Nawaksari, SH, M.Kn., a Notary
Nawaksari, SH, M.Kn., Notary in Tangerang in Tangerang Regency, related to amendment to
Regency, in connection with the adjustment of Article 8, Article 19, Article 21 and Article 22 of
Article 8, Article 19, Article 21 and Article 22 of the the Company's Article of Association and was
Company's Articles of Association and has been approved by the Minister of Law and Human
approved by the Minister of Law and Human Rights of the Republic of Indonesia as stated in
Rights as stated in the Decree of the Minister of his decree No. AHU-0109300.AH.01.11 YEAR
Law and Human Rights of the Republic of 2021 dated June 21, 2021.
Indonesia No. AHU 0109300.AH.01.11.YEAR
2021 dated June 21, 2021.
In accordance with Article 3 of the Company's In accordance with Article 3 of the Company's
articles of association, the scope of the Company's articles of association, the Company's principal
main activities is in the field of human health activity is engaging in the field of human health
(hospital). (hospitals).
The Company started its commercial operations The Company commenced commercial operations
in 2010 following the restructuring of the hospital in 2010 after the restructuring of PT Lippo Karawaci
units from PT Lippo Karawaci Tbk. Tbk's hospital units.
The main activity of the Company is engaged in The Company's principal activity is engaging in
the field of public healthHospital
establishing services,
and namely
managing
units work
hospitals.
area healthcare provision, including setting up and
managing hospitals. The operation of hospital units
of the Group (the Group) are in several cities on
The Group (hereinafter referred to as the “Group”) includes the island of Sumatra, Java, Bali,
several cities on the islands of Sumatra, Java, Kalimantan, Sulawesi, East Nusa Tenggara,
Bali, Kalimantan, Sulawesi, East Nusa Tenggara, West Nusa Tenggara and Bangka.
West Nusa Tenggara and Bangka.
The company's head office is in the Faculty of The Company's head office is located at the
Medicine, Universitas Pelita Harapan (UPH) Faculty of Medicine, Universitas Pelita Harapan
Building, 32nd Floor. Jl. Boulevard Jend. (UPH) Building, Fl. 32. Jl. Boulevard Jend.
5

INTERIM CONSOLIDATED (Continued) FINANCIAL STATEMENTS (Continued)
Sudirman No.15, Tangerang 15810, Banten - Indonesia. Sudirman No.15, Tangerang 15810, Banten - Indonesia.
The Company's parent entity is PT Megapratama Karya The parent entity of the Company is PT Megapratama
Persada with the main parent entity being PT Lippo Karya Persada and the ultimate parent entity is PT
Karawaci Tbk. Lippo Karawaci Tbk.
1.b. Public Offering of Company Securities 1.b. The Company's Public Offering
Initial public offering of the Company's 156,100,000 The Company's initial public offering of 156,100,000
ordinary shares with a par value of Rp100 (full Rupiah shares with par value of Rp100 (full amount Rupiah) per
value) per share at an offering price of Rp9,000 (full share with offering price of Rp9,000 (full amount Rupiah),
Rupiah value) per share to the public and has obtained was declared effective by the Indonesian Financial
an effective statement from the Financial Services Services Authority (formerly BAPEPAM) in its letter No .
Authority (d/ h BAPEPAM) through letter No. S-260/ S-260/ D.04/2013 dated September 2, 2013, and was
D.04/2013 on September 2, 2013 and subsequently all listed in the Indonesian Stock Exchange September 12,
shares are listed on the Indonesia Stock Exchange on 2013.
on
on
12 September 2013.
Limited Public Offering I On Limited Public Offering I

November 22, 2016, the Company obtained a Statement On November 22, 2016, the Company received the
of Effectiveness from the Board of Commissioners of effective statement from the Board of
the Financial Services Authority, Chief Executive of Commissioner of Financial Services Authority, Chief
Capital Market Supervision No.S-680/D.04/2016 in Executive of Capital Market Supervisory No. S-680/
connection with the Limited Public Offering I by granting D.04/2016 related to Limited Public Offering I in order to
Preemptive Rights Previously (HMETD) with a total of issue Pre-emptive Rights (HMETD) amounting to
144,512,500 shares of common stock with a par value 144,512,500 ordinary shares with par value of Rp100
of Rp100 (full Rupiah value) per share at an offering (full amount Rupiah) per share with offering price of
price of Rp9,000 (full Rupiah value) per share. Rp9,000 (full amount Rupiah) per share.
These additional shares were listed on the Indonesia

Stock Exchange December 6, 2016. on
The new shares are listed on the Indonesia Stock
Exchange on
December 6, 2016.
The excess of the amount received from the issuance The excess amount received from the issuance of
of shares over the par value amounted to Rp1,280,428, shares over its par value amounting to Rp1,280,428 is
recorded in the “Additional Paid-in Capital” account after recorded in the “Additional Paid-in Capital” account,
deducting the total share issuance costs amounting to after deducting shares issuance cost of Rp5,733 (Note
Rp5,733 (Note 23). 23).
Limited Public Offering II On Limited Public Offering II

September 29, 2017, the Company obtained a Statement On September 29, 2017, the Company
of Effectiveness from the Board of Commissioners of received the effective statement from the Board of
the Financial Services Authority, Chief Executive of the Commissioners of Financial Services Authority, Chief
Capital Market Supervisor No.S-421/D.04/2017 in Executive of Capital Market Supervisory No. S-421/
connection with the Limited Public Offering II by granting D.04/2017 related to Limited Public Offering II in order
Preemptive Rights Previously (HMETD) with a total of to issue Pre-emptive Rights (HMETD) amounting to
325,153,125 shares of common stock in the name of 325,153,125 ordinary shares with par value of Rp100
(full amount Rupiah) per share with
6

with a par value of Rp100 (full Rupiah value) per share offering price of Rp9,500 (full amount Rupiah)
at an offering price of Rp9,500 (full Rupiah value) per per share. These additional shares were listed on the
share. Indonesia Stock Exchange on October 13, 2017.
The new shares are listed on the Indonesia Stock
Exchange on
October 13, 2017.
The excess of the amount received from the issuance The excess amount received from the issuance of
of shares over the par value amounted to Rp3,048,222, shares over its par value amounting to Rp3,048,222 is
recorded in the “Additional Paid-in Capital” account after recorded in the “Additional Paid-in Capital” account, after
deducting the total share issuance costs of Rp8,217 deducting shares issuance cost of Rp8,217 (Note 23).
(Note 23).
Based on the Extraordinary General Meeting of Based on the Deed of EGMS No. 17 dated December,
Shareholders held on December 9, 2019 as stated in 2019 which was made in the presence of Sriwi Bawana
the Deed No. 17 which was made in the presence of Nawaksari, SH,
Notary Sriwi Bawana Nawaksari, SH, a notary in a notary in Tangerang, the shareholders approved the
Tangerang and the shareholders agreed to repurchase repurchase (buyback) of outstanding common shares. In
the outstanding ordinary shares. In 2020, the number of 2020, the number of common shares repurchased
treasury common shares is 10,000,000 amounted to 10,000,000 shares, bringing the total
number of ordinary common shares outstanding as of
the December 31, 2011 amounted to 1,615,765,625
shares. The Company has reported this buyback to
ordinary shares, so that the number of ordinary shares Bapepam-LK in its letter No. 003/ Corsec SIH/ I/ 2021
outstanding as of December 31, 2020 was 1,615,765,625 dated January 13, 2021.
ordinary shares. The repurchase of these shares has
been reported to the Capital Market and Financial
Institution Supervisory Agency in letter No. 003/Corsec-
SIH/I/2021 dated January 13, 2021.
1.c. Structure of the 1.c. The Group's Structure

Group The Company has control over the following The Company has control in subsidiaries as follows:
subsidiaries:
Child entity/ The place Business Activities Percentage Percentage Year Total Assets (before elimination)/
Subsidiary position/ Main/ Ownership Ownership Beginning Total Assets (before elimination)
Domicile Main Business Direct/ Not Operate/ June 30/ 31 December/
Direct Direct/ year of June 30, December 31,
Ownership Indirect Starting 2021 2020
Percentage Ownership Operation
Percentage Rp Rp
PT Aritasindo Permaisemesta Jakarta Trade, Development 99.99% -- -- 26 27
Mining, Agriculture
Services, Land Freight
printing and
Industry/
Trading, Development
Mining, Agriculture,
Service, Land Transportation
Printing and Industry
PT Perdana Kencana Mandiri Jakarta Development, Trade 99.99% -- -- 1 1
Industry, Land Transport,
Workshop, Printing
Agriculture, Mining
and Services/
Development, Trading, Industry,

Land Transportation, Workshop
Printing, Agriculture, Mining
and Services
PT Multiselaras Anugerah Tangerang Trade, Development and 99.99% -- -- 88 88
Services/
Trading, Development and
Services
7


Percentage Rp Rp
PT Nusa Medika Perkasa Jakarta Human Health (hospital)/ -- 59.69% -- 21.975 16,271
Human Healthcare (hospital)
PT Siloam Graha Utama and Jakarta Trade, Development 99.99% -- -- 130,026 113.809
Subsidiaries/ and subsidiaries Land Freight
and Services/
Trading, Development,
land transportation,
and Services
PT East Jakarta Medika Bekasi Human Health (hospital)/ -- 79.84% 2002 127.003 100,201
Human Healthcare (hospital)
PT Guchi Kencana Emas dan Jakarta Development and Services/ 99.98% -- -- 133.072 129,197
Subsidiaries/ and subsidiaries Development and Services
PT Golden First Atlanta Jambi Human Health Activities/ 0.01% 99.99% 2004 111.483 98,440
(hospital)/
Healthcare Activities (Hospital)
PT Prawira Tata Semesta and Jakarta Trade, Development, 99.98% -- -- 370,074 336,230
Subsidiaries/ and subsidiaries Industry, Mining,
Land transportation,
Agriculture, Printing,
Workshop and Services
except Services in the field of
Law and Tax/
Industry, Mining,
Agriculture, Printing, Workshop
and Services except
Legal and Tax Services
PT Balikpapan Damai Husada Balikpapan Human Health/ -- 83.02% 2008 240,156 181.211
Healthcare
PT Siloam Emergency Services Tangerang Health/ Healthcare 99.99% -- 2013 108 104
PT Medika Harapan Tangerang Trade, Industry 99.99% -- 2013 -- --
Brilliant Indonesia and Services/
Trading, Industry, and Services

PT Pancawarna Semesta and Tangerang Trade, Development 99.99% -- -- 544,447 542.199
Subsidiaries/ and subsidiaries Printing and Services/
Printing and Services
PT Diagram Healthcare Indonesia Depok Human Health Activities and -- 80.00% 2006 278,065 277,169
hospital/
Healthcare Activities
and Hospitals
PT Adamanisa Karya Sejahtera Jakarta Trade, Development 99.99% -- -- 123 123
Printing and Services/
PT Nusa Harapan Berlian d/h/ Tangerang Trade, Development 99.99% -- -- 21,525 19,306
formerly PT Brenada Karya Printing and Services/
Nation Trading, Development,
PT Megapratama Karya Bersama Tangerang Trade, Development 99.99% -- -- 611 611
PT Anchor Visido Abadi and Tangerang Trade, Development 99.99% -- -- 47,016 46,336
PT Anchor Visido Berlian Tangerang Trade, Development -- 100.00% -- 6.158 5.771
PT Gorontalo Graha Tunas Tangerang Trade, Development -- 100.00% -- 600 600
PT Tulungagung Tangguh Abadi Tangerang Trade, Development -- 100.00% -- 600 600
PT Prima Mugi Jaya Jakarta Trade, Development, Services, 100.00% -- 43,450 42.134
Industry, Printing, Plantation,
Forestry, Agriculture, Livestock
Electrical, Mechanical, Engineering, Transport
Land, Workshop, and Mining/
Trading, Development, Services,
Industry, Printing, Plantation, Forestry
Agriculture, Electrical,
Mechanical, Engineering, Land
Transportation
Workshop, and Mining
Service activities --
PT Gamma Knife Center Indonesia Tangerang 50.90% 2012 23,443 20.751
health support/
Health support service activities
PT Nusa Harapan Abadi d/h/ Tangerang Trade, Development 99.99% -- -- 120,842 105.594
formerly PT Harmoni Selaras Printing and Services/
Indah and its Subsidiaries Trading, Development,
8


Percentage Rp Rp
PT. Medical Center Indonesia Health services include -- 100.00% -- 232 308
Tangerang
Clinic and Polyclinic Services,
Medical Center
and related business activities/
Healthcare services include
Clinic and Polyclinic Services
Medical Center
and Other Related Services
-- 100.00% 2020 83.906 76,300
PT Meditek Global Innovation*) Tangerang Other Computer Programming Activities and
Other Management Consulting Activities/
Other Computer programming activities and
Other Management Consulting Activities
-- 100.00% -- 8.936 7.334
PT Innovation Telemedia Indonesia*) Tangerang Trusts, Financing and
Similar Financial Entities, and
Other Management Consulting Activities/
Trust, Financing and Similar Financial Entities
and Other Management Consulting Activities
-- 100.00% -- 6.370 6.370
Aido Health PTE LTD*) Singapore Other Holding Company/
Other Holding Company
PT Kusuma Primadana dan 99.99% -- -- 157.015 110,577
Tangerang Trade, Development
Printing and services
-- 80.00% -- 157.142 113.319
PT Adijaya Buana Sakti and Tangerang Services, Development
Subsidiaries/ and subsidiaries Trading, Workshop,
Land Freight,
Industry, Printing and
Agriculture/
Services, Development,
Trading, Workshops,
Industry, Printing and
Agriculture
PT Siloam Sumsel Partnership -- 55.99% -- 27,827 30,257
Tangerang Trade, Development and Services/

Services
Siloam . Hospital PT Human Health Activities -- 70.39% 2012 235,906 189,433
Palembang
Hospitals Sumsel Hospitals Sumsel (hospital)/
(Hospitals)/
PT Jakarta Panca Bahari d/ Jakarta Human Health Activities 99.99% -- -- 50.004 50,119
h/ formerly PT Banjar (hospital)/
Nusa Medika Healthcare Activities
(Hospitals)/
Health Services 99.99% -- -- 13 13
PT Toraja Teguh Rindang d/ North Toraja
h/ formerly PT Aceh include Hospital Services,
Brilliant Hope Clinics and Polyclinics, Medical Center
and Related Business Activities/
Healthcare services
including Hospital Services, Clinic and
Polyclinic, Medical Treatment Clinic
and other related Services
99.99% -- -- 18 18
PT Sembada Karya Megah Tangerang Trade, Development
Human Health Activities 99.99% -- -- 75,045 57.550
PT Surabaya Citra Milestone d/ Surabaya
h/ formerly PT Kuta (hospital)/
Seminyak Kirana Healthcare Activities
(Hospitals)/
99.99% -- --
PT Visiindo Galaxi Jaya and Tangerang Trade, Development (7,392) (4,885)
Subsidiaries/ and subsidiaries Real Estate, Industry, Printing,
Agribusiness, Services and Transportation/
Real Estate, Industry, Printing,
Agribusiness, Services, and
Transport
-- 50.00% -- 42,860 45,367
PT Partnership Syubbanul Magelang Trade, Development and Services/
Wathon Siloam
Services
Human health activities -- 50.01% 2019 43,621 46,128
PT RSU Syubbanul Magelang
Wathon Tegalrejo and social activities/
Health Activities and
Social Activities
99.99% -- -- 7,392,565 6,688.877
PT Tunggal Pilar Perkasa and Tangerang Trade, Development
PT Tirtasari Kencana Health services include -- 99.99% -- 607 607
attack
Hospital Services, Clinics,
and Polyclinic, Balai
Treatment and Activities
Related Business/
Healthcare Services, including
Hospitals, Clinics, Health Centers,
and other related services
9


Percentage Rp
PT Gramari Prima Nusa Medan Human Health Activities -- 99.99% 2014 IDR 326,800 269.104
(hospital)/
(Hospitals)/
PT Krisolis Jaya Mandiri Kupang Human Health Activities -- 99.99% 2014 276,889 253.391
(hospital)/
(Hospitals)/
PT Ambon Bangun Nusa Ambon Human Health Activities -- 99.99% 2020 835,902 823,617
d/h/ formerly PT Kusuma (hospital)/
Bhakti Anugerah Healthcare Activities
(Hospitals)/
PT Agung Cipta Raya Semarang Human Health Activities -- 99.99% -- 380,544 380,544
(hospital)/
(Hospitals)/
PT Bina Cipta Semesta field Health services include -- 99.99% -- 1.040 1.040
Hospital Services, Clinics and Polyclinics,
Medical Center, and Activities
Related Business/
Healthcare Services including
Hospitals, Clinic and Polyclinic, Health
Center, and other related services
PT Mega Buana Bhakti Central Bangka Human Health Activities -- 99.99% 2017 286,926 295.529
(hospital)/
(Hospitals)/
PT Taruna Perkasa Megah Yogyakarta Human Health Activities -- 99.99% 2017 106,782 114.150
(hospital)/
(Hospitals)/
PT Tataka Bumi Karya Bogor Human Health Activities -- 99.99% 2017 265,215 277,392
(hospital)/
(Hospitals)/
PT Tataka Karya Indah Bandung Health services include -- 99.99% -- 386 386
Related Business/
PT Siloam Medika Cemerlang Tangerang Human health activities and -- 81.40% 2013 71,605 56,972
social activities,
Retail Trading and Activities
Professional, Scientific and Technical/
Health and Social Activities,
Retail, and Professional Activities,
Scientific and Technical Activities
PT Corridor Usaha Forward and Tangerang Trade, Development -- 99.99% -- 857,122 792,607
PT Medika Sarana Traliansia and Badung Human Health Activities -- 99.99% 1998 308.074 312,132
Subsidiaries/ and subsidiaries (hospital)/
(Hospitals)/
PT Trisaka Mutual Waluya Badung Human Health Activities -- 99.99% 2012 108.778 113.376
(hospital)/
(Hospitals)/
PT Sentra Sejahtera Utama Jakarta Human Health Activities -- 99.99% 2020 259,083 188,659
(hospital)/
(Hospitals)/
PT Bumi Unggul Persada Tangerang Health services include -- 99.99% -- 684 685
Related Business/
PT Bali Orion Citra Badung Human Health Activities and Social Activities, -- 99.99% 2018 18,679 19,845
Retail Trading, Professional Activities,
Scientific and Technical/
Healthcare and Social Activities,
Retail Trading, Professional,
PT Selaras Medika Kusuma Badung Human Health Activities -- 99.99% -- 12.714 12.714
(hospital)/
(Hospitals)/
PT Buana Digdaya Sejahtera Gianyar Trade, Development, -- 99.99% -- 7.196 7.346
PT Berlian Cahaya Indah Tangerang Human Health Activities -- 99.99% 2014 607.513 562,560
(hospital)/
(Hospitals)/
10


Percentage Rp Rp
PT Rashal Siar Cakra Medika Jakarta Human Health Activities -- 99.99% 2008 428.135 132,602
(hospital)/
(Hospitals)/
PT Mulia Pratama Brilliant Bekasi Human Health Activities -- 99.99% 2017 70,224 68.004
(hospital)/
(Hospitals)/
PT Medika Rescue International Jakarta Human Health Activities -- 99.99% 2016 2,904 10.311
d/h/ formerly PT Karya Healthcare Activities
Brilliant Charm
PT Indah Kemilau Abadi Jember Health Services include -- 99.99% -- 1,300 1.301
Hospital, Clinic and Polyclinic Services
Related Business./
Hospitals, Clinics and Polyclinic,
Health Center
PT Siloam Radiology Indonesia d/h/ Tangerang Human Health Activities -- 99.99% 2016 52,451 38.011
formerly PT Persada Healthcare Activities
Universe
PT Inti Pratama Medika Kediri Human Health Activities -- 99.99% -- 630 630
(hospital)/
(Hospitals)/
PT Sentra Sehat Sejahtera Manado Human Health Activities -- 99.99% 2019 105.515 95.553
(hospital)/
(Hospitals)/
PT Genta Raya Internusa Stone Human Health Activities -- 99.99% -- 17,484 16,489
(hospital)/
(Hospitals)/
PT Nine Raksa Dinamika Jakarta Human Health Activities/ -- 99.99% 2016 226,127 174.839
PT Saritama Mandiri Zamrud Palangkaraya Human Health Activities -- 99.99% 2018 223.060 195,000
(hospital)/
(Hospitals)/
PT Gempita Nusa Sejahtera South Tangerang Health services include -- 99.99% -- 607 607
Hospital Services, Clinic
Related Business/
Health Center, and other related services
PT Aryamedika Teguh Tunggal Tangerang hospital/ -- 99.99% 2019 442,693 321,965
Hospitals
PT Lintas Buana Jaya West Manggarai Human Health Activities -- 99.99% 2016 75.170 68,501
(hospital)/
(Hospitals)/
PT Bina Bahtera Sejati Baubau Human Health Activities -- 99.99% 2016 32,640 32,771
(hospital)/
(Hospitals)/
PT Lintang Laksana Utama Linggau Human Health Activities -- 99.99% 2018 193.303 203.006
(hospital)/
(Hospitals)/
PT Ciptakarya Tirta Cemerlang Bekasi Health services include -- 99.99% -- 675 675
Related Business/
PT Lishar Sentosa Pratama Bekasi Human Health Activities -- 99.99% 2002 58,859 51.358
(hospital)/
(Hospitals)/
PT Gemilang Mulia Bekasi Bekasi Health services include -- 99.99% -- 145.515 145,415
Related Business/
11

Percentage Rp Rp
PT Binjai Jaya Indah Tangerang Health services include -- 99.99% -- 517 517
Related Business/
PT Banjar Dinamika Mulia Banjarmasin Human Health Activities -- 99.99% -- 1,731 1,737
(hospital)/
(Hospitals)/
PT Jayapura Perkasa Raya Tangerang Health services include -- 99.99% -- 602 602
Hospital Services, Clinics,
and Polyclinic, Medical Center
and Related Business Activities/
Hospitals, Clinics, Polyclinic, health centers,
PT Aceh Harapan Medika Tangerang Health services include -- 99.99% -- 587 588
Related Business/
Hospitals, Clinic Polyclinic,
PT Banjar Jaya Medika Banjarmasin Human Health Activities -- 99.99% -- 5.349 4.855
(hospital)/
(Hospitals)/
PT Harapan Kusuma Tunggal Tangerang Health services include -- 99.99% -- 602 602
Related Business/
Health Center, and
other related services
PT Wijaya Medika Nusa Tangerang Health services include -- 99.99% -- 602 602
Related Business/
Health Center, and
PT Bekasi Karya Bangsa Tangerang Health services include -- 99.99% -- 599 599
Related Business/
Health Center, and
PT Tangerang Lestari Visiindo Tangerang Human Health Activities -- 99.99% -- 599 599
(hospital)/
(Hospitals)/
PT Jakarta Kusuma Nusantara Tangerang Health services include -- 99.99% -- 879 879
Related Business/
Health Center, and
PT Jakarta Dynamics Sentosa Tangerang Health services include -- 99.99% -- 602 602
Related Business/
Health Center, and
PT Jakarta Prisma Visiindo Tangerang Health services include -- 99.99% -- 613 613
Related Business/
Health Center, and
12


Percentage Rp Rp
PT Palembang Jaya Kusuma Palembang Human Health Activities -- 99.99% -- 2.878 2.849
and social activities,
Retail Trading and Activities
Professional, Scientific and Technical/
Health and Social Activities,
Retail, and Professional Activities,
PT Sentosa Indonesia Jaya Jakarta General Trade, Agriculture, Services, -- 99.99% -- 2,524 2,524
Land Freight,
Development, Industry
Printing and Workshop/
Polyclinic and Activities
Related Business/
General Trading, Agriculture, Services,
Land Transportation, Construction,
Priting and Workshop Industry
PT Management Perkasa Makmur dan Jakarta Service/ -- 99.99% -- 236,350 236,349
Subsidiaries/ and subsidiaries Service
PT Sorong Business Center Jakarta Development, Trade, Services -- 99.99% -- 232,204 232,203
Land Freight, Printing, Industry
Agriculture and workshop/
Construction, Trading, Service,
Land Transportation, Printing, Industry
Agriculture and Workshop
PT Medika Intan Nusa Tangerang Health Services include Services -- 99.99% -- 602 602
Hospitals, Clinics and Polyclinics,
Medical Center and Activities
Related Business/
Hospitals, Clinic and Policlinic, health
center and other related services
PT Bekasi Medika Insan Bekasi Health Services include Services -- 99.99% -- 1.322 1.322
Hospitals, Clinics and Polyclinics,
Medical Center and Activities
Related Business/
Hospitals, Clinic and Policlinic, health
center and other related services
PT Abadi Selaras Cenderawasih Tangerang Web Portal field and/or -- 99.99% 2019 23,633 28,292
Digital Platform with Commercial Purpose/
Web Portal and/ or Digital
Platform with Commercial Purposes
PT Sorong Sentosa Orion Tangerang Human Health Activities -- 99.99% -- 587 587
(hospital)/
(Hospitals)/
PT Mahkota Buana Selaras and Entities Tangerang Owned or Rented Real Estate and 99.99% -- -- 2,334,028 2,241,874
Children/ and subsidiaries Consulting Activities
Other Management/
Owned or Leased Real Estate and
Other Management Consulting Activities
PT Kirana Puspa Brilliant Jember Human Health Activities -- 99.99% 2018 367,862 374,564
(hospital)/
(Hospitals)/
PT Grha Ultima Medika Mataram Human Health Activities -- 99.99% 2015 110,455 86,752
(hospital)/
(Hospitals)/
PT Sumber Bahagia Sentosa Cirebon Human Health Activities -- 99.99% 2010 185.296 159,639
(hospital)/
(Hospitals)/
PT Anugerah Sentra Medika Bekasi Human Health Activities -- 99.99% 2007 215.583 185,940
(hospital)/
(Hospitals)/
*) Established in 2019
1.d. Board of Commissioners, Directors, Employees 1.d. Board of Commissioners, Directors, Employees
and Audit Committee and Audit Committee
Based on the Deed of Statement of the Resolutions Based on Deed of Partial Declaration of Decision of
of the Annual General Meeting of Shareholders No. Annual General Meeting of Shareholders No. 89
89 dated April 29, 2021, made before Sriwi Bawana dated April 29, 2021, made in the presence of Sriwi
Nawaksari, SH, M.Kn., Notary in Tangerang Regency, Bawana Nawaksari, SH, M.Kn., a Notary in Tangerang
the Company made changes to the composition of Regency, the Company has made changes of
the Board of Commissioners and Directors. composition of the Board of Commissioners and
Directors.
13

Composition of the Board of Commissioners and Board of Directors The composition of the Board of Commissioners and
Company on June 30, 2021 and Directors as of June 30, 2021 and
December 31, 2020 are as follows: December 31, 2020 are as follows:

June 30, 2021 December 31, 2020
board of Commissioners Board of Commissioners
President Commissioner John Riady John Riady President Commissioner

Commissioner Lim Suet Wun Lim Suet Wun Commissioner
Andy Nugroho Purwohardono Andy Nugroho Purwohardono
Independent Commissioner Dr. Kartini Syahrir Dr. Dr. Kartini Syahrir Dr. Independent Commissioner
Rosa Christiana Ginting Peter Rosa Christiana Ginting
John Chambers Peter John Chambers
Directors Directors
President Director Darjoto Setyawan Ketut Budi Wijaya President Director

vice president Director Caroline Riady dr. Caroline Riady dr. Vice President Director
Director Grace Frelita Indradjaja dr. Anang Grace Frelita Indradjaja dr. Anang Director
Prayudi Atiff Ibrahim Gill Prayudi Atiff Ibrahim Gill
Phua Meng Kuan (Daniel Phua) Phua Meng Kuan (Daniel Phua)
Ryanto Marino Tedjomulja Ryanto Marino Tedjomulja
Monica Surjapranata Monica Surjapranata
Mona Kartikasari Jonathan Mona Kartikasari Jonathan
Key management consists of the Board of Commissioners and the Key management consist of Board of Commissioners
Board of Directors. and Director.
The composition of the Company's Audit Committee on The audit committee composition as of
June 30, 2021 and December 31, 2020 are as follows: June 30, 2021 and December 31, 2020 are as
follows:

June 30, 2021 December 31, 2020
Audit Committee Audit Committee
Chairman Peter John Chambers Peter John Chambers Chairman
Member Charles Rigoux Charles Rigoux Members
Achmad Kurniadi Achmad Kurniadi
The Company 's Corporate Secretary is held by Corporate Secretary of the Company is held by
Catherine Juwita Sabatini on June 30, 2021 and the Catherine Juwita Sabatini on June 30, 2021 and
Corporate Secretary of the Company held by Indra Corporate Secretary of the Company is held by Indra
Hertanto on December 31, 2020. Hertanto on December 31, 2020.
The head of the internal audit unit is Gunawan HP. The head of the internal audit unit is held by Gunawan
HP.
As of June 30, 2021 and December 31, 2020, the As of June 30, 2021 and December 31, 2020, the
Group has 12,777 and 12,176 employees, respectively. Group have 12,777 and 12,176 employees,
respectively.
2. Significant Accounting Policies 2. Significant Accounting Policies
2.a. Compliance with Financial Accounting Standards 2.a. Compliance with the Financial Accounting Standards
(SAK)
The consolidated financial statements have been prepared The consolidated financial statements were
and presented in accordance with Accounting Standards prepared and presented in accordance with Indonesian
Finance in Indonesia which includes Statement of Financial Accounting Standards which include the
Financial Accounting Standards (PSAK) and Statement of Financial Accounting Standards (PSAK)
Interpretation of Financial Accounting Standards (ISAK) and Interpretation of
(ISAK)
Financial
issued
Accounting
by the Financial
Standards
Accounting
issued by the Financial Accounting Standards Board – Standard Board – Indonesian
Institute of Accountants
Indonesia (DSAK – IAI), as well as Market regulations
14

Applicable capital, among others, Regulations Institute of Accountant (DSAK – IAI), and regulations
Financial Services Authority/Capital Market and in the Capital Market including
Financial Institution Supervisory Agency (OJK/ of Services Authority/ Capital
Regulations Financial
Bapepam-LK) related Regulation Market and Supervisory Board and Financial
No. KEP-347/BL/2012 concerning the presentation Institution (OJK/ Bapepam-LK) related to Regulation
and disclosure of the financial statements of issuers No. KEP-347/ BL/ 2012 regarding presentation and
or public companies. disclosure of financial statements of the issuer or
public company.
2.b. Basic Measurement and Preparation 2.b. Basis of Measurement and Preparation of
Consolidated Financial Statements Consolidated Financial Statements
The consolidated financial statements have been The consolidated financial statements have been
prepared and presented based on going concern prepared and presented based on going concern
assumption and on the accrual basis, except for the assumption and accrual basis of accounting, except
consolidated statements of cash flows. The basis of for The consolidated
measurement in the preparation of these consolidated statements of cash flows. Basis of measurement in
financial statements is the concept of cost preparation of these
earnings, except for certain accounts consolidated financial statements is the historical
based on other measurements as described in the costs concept, except for certain accounts which
respective accounting policies for these accounts. have been prepared on the basis of other
Cost is generally based on the fair value of the measurements as described in their respective
consideration given in the acquisition of the asset. policies. Historical cost is generally based on the fair
value of
the consideration given in exchange for assets.
The consolidated statements of cash flows are The consolidated financial statements of cash flows
presented using
cash
theflows
directinto
method
and
operating,
financing
by classifying
investing
activities. are prepared using the direct method by classifying
cash flows into operating, investing and financing
activities.
Presentation currency used in the preparation of the The presentation currency used in the preparation
consolidated financial statements of the consolidated financial statements is Indonesian
This is Rupiah which is the functional currency of Rupiah which is the functional currency of the
the Company. Every entity within Company. Each entity in the Group determines its
The Group sets its own functional currency own functional currency and items included in the
and items in the financial statements of each entity financial statements of each entity are
are measured in that functional currency.
measured using that functional currency.
2.c. Statements and Interpretations of New and 2.c. New and Revised Statements and Interpretation of
Revised Accounting Standards Effective in the Financial Accounting Standards Effective in the
Current Year Current Year
The following are revisions, amendments and The following are revisions, amendments and
adjustments to financial accounting standards (SAK) adjustments of standards and interpretation of
as well as interpretations of SAKs effective for standard issued by DSAK - IAI and effectively applied
financial years starting on or after January 1, 2020, for the year starting on or after January 1, 2020, are
namely: as follows:
• PSAK 71: Financial Instruments; • PSAK 71: Financial Instruments;
• PSAK 72: Revenue from Contracts with Customers; • PSAK 72: Revenue from Contract with
Customers;
• PSAK 73: Leases; • PSAK 73: Leases;
• PSAK 62 (Amendment 2017): Insurance Contracts • PSAK 62 (Amendment 2017): Insurance
on Applying PSAK 71: Contract regarding Applying PSAK 71:
15

Financial Instruments with PSAK 62: Financial Instruments with PSAK 62:
Insurance Contract; Insurance Contracts;
• PSAK 15 (Amendment 2017): Investments in • PSAK 15 (Amendment 2017): Investment in
Associates and Joint Ventures on Long-Term Associates and Joint Ventures regarding
Interests in Long-term Interests in Associates and Joint
Associates and Joint Ventures; Ventures;
• PSAK 71 (Amendment 2018): Instruments • PSAK 71 (Amendment 2018): Financial
Finance about Acceleration Features Instrument regarding Prepayment Features with
Payment with Negative Compensation; Negative Compensation;
• ISAK 35: Presentation of Financial Statements • ISAK 35: Presentation of Non-profit oriented entity
Non-profit Oriented Entity; Financial Statements;
• PSAK 1 (Amendments and Adjustments) • PSAK 1 (Amendment and Improvement)
Annual 2019): Report Presentation 2019): Presentation of Financial Statements
Finance; regarding Title of Financial Statements;
• PSAK 25 (Amendment 2019): Policy • PSAK 25 (Amendment 2019): Accounting
Accounting, Changes in Accounting Estimates and policy, Changes in Accounting
Errors; Estimates and Errors;
• PSAK 102 (Revised 2019): Accounting • PSAK 102 (Revised 2019): Accounting for
Murabaha; Murabaha;
• ISAK 101: Revenue Recognition • ISAK 101: Revenue Recognition on
Tangguh Murabahah Without Significant Risks Deferred Murabahah without Significant Risk
related to Inventory Ownership; related to Inventories Ownership;
• ISAK 102: Impairment of Receivables • ISAK 102: Impairment on Murabaha
Murabaha; Receivable;
• ISAK 36: Interpretation of Interactions between • ISAK 36: Interpretation of the Interaction between
Provisions Regarding Land Rights in the Provisions Regarding Land
PSAK 16: Fixed Assets and PSAK 73: Rights in PSAK 16: Fixed Assets and PSAK
Rent; 73: Leases
• PPSAK 13: Revocation of PSAK 45: Reporting • PPSAK 13: Revocation of PSAK 45:
Non-Profit Entity Finance; and Non-profit Entity Financial Reporting; and
• Amendments to PSAK 71, Amendments • Amendment to PSAK 71, Amendment to PSAK
PSAK 55, Amendment to PSAK 60, regarding 55, Amendment to PSAK 60 regarding Interest
Interest Rate Benchmark Reform Rate Benchmark Reform
The following is the impact of changes to the The following is the impact of the amendments
standards and interpretations of the above standards in accounting standards that are relevant to the
that are relevant to finance report financial statements of the Company:
Company:
• PSAK 71: Financial Instruments • PSAK 71: Financial Instruments

PSAK 71: Financial Instruments was issued in PSAK 71: Financial Instruments was issued in
July 2017 and is effective on January 1, 2020 July 2017 and has an effective date of January 1,
with the implementation of 2020 with earlier application permitted. The
early is allowed. Company Company implements PSAK 71 started on
implement PSAK 71 starting January 1, 2020. January 1, 2020.
The company applies PSAK 71: The Company implements PSAK 71: Financial
Financial Instruments retrospectively with Instruments retrospectively with the cumulative
cumulative effect at the beginning of application effect of initial application
and not restatement for comparative information. recognized and has not restated comparative
information.
16

The following are the main changes in PSAK 71: The main changes in regard to PSAK 71:
Financial Instruments and their impact Financial Instruments and impact of the
to the Company's financial statements: Company's financial statements are as
follows:
i. Classification and measurement of i. Financial assets classification and
financial assets measurement
In PSAK 71, financial assets are In PSAK 71, financial assets are classified
classified into financial assets to amortized cost, fair value through other
measured at cost comprehensive income, and fair value
amortized, financial assets at fair value through profit and loss.
through other comprehensive income, The classification is determined based on
and financial assets at fair value through two criteria:
profit or loss. This classification is based
on two criteria:
- Company's business model in - The Company's business model to

manage financial assets to achieve achieve a particular business objective
certain business objectives; and in managing the financial assets; and
- The contractual cash flow characteristics - The characteristics of the contractual

of the financial asset are solely cash flows that are solely payments of
payments of principal and interest principal and interest (“SPPI”) on the
(“SPPI”) of the principal amount owed. principal amount outstanding.
Principal is the fair value of the instrument Principal represents the fair value of the
at initial recognition. instrument at the time of initial recognition.
Interest is compensation for Interest represents
time value of money and associated compensation for the time value of money
credit risk along with compensation for and associated credit risks together with
other risks and costs consistent with compensation for other risks and costs
standard lending and profit margin consistent with a basic lending arrangement
requirements. This asset category and a profit margin.
requires an assessment of the contractual This requires an assessment at initial
terms at initial recognition to determine recognition of the contractual terms to
whether the contract contains terms that determine whether it contains a term that
may alter the timing or amount of cash could change the timing or amount of cash
flows that are inconsistent with the flows in a way that is inconsistent with the
requirements of the SPPI. SPPI criteria.
In assessing whether the contractual In assessing whether the contractual

cash flows have SPPI characteristics, cash flows have SPPI characteristics, the
the Company considers theofcontractual
terms the Company considers the contractual terms
instrument. This includes assessing of the instrument. This includes assessing
whether a financial asset contains whether the financial asset contains a
contractual provisions that may change contractual term that could change the
the timing or amount of contractual cash timing or amount of contractual cash flow
flows so that they cannot meet the SPPI such that it would not meet this condition.
conditions.
Based on the results of the Company's Based on the Company review using
study using both criteria both criteria, there is no significant
17

there is no impact of significant changes impact on the classification and

to the classification
theand measurement
Company's assets. of
financial measurement of the Company Financial
All of the Company's financial assets Assets. All of the Company Financial
classified as held to maturity under PSAK Assets that were classified as held to
55: Financial Instruments
and Measurement
Recognition maturity in PSAK 55: Financial Instruments
changed to the category of financial Recognition and Measurement
classified as are now
amortized
assets measured at cost in accordance costs in PSAK 71: Financial Instruments.
with PSAK 71: Financial Instruments. These financial assets are already
recorded as amortized costs, hence no
need adjustments is required for those
amortized financial asset measurements.
Since these financial assets have

previously been measured at amortized
cost, the measurement
assets does
of these
not financial
need
be to
adjusted.
ii. Impairment of financial assets iii.ii. Financial assets impairment

Implementing PSAK 71: Instruments The implementation of PSAK 71: Financial
Finance changing approach Instruments changes the approach of
calculation of impairment for financial financial asset impairment modeling from
assets from the loss method that has incurred loss in PSAK 55: Financial
occurred in PSAK 55: Financial Instruments Recognition and Measurement
Instruments Recognition
Measurement:
and to the to Expected Credit Loss (ECL) in PSAK
Expected Credit Loss (KKE) approach in 71: Financial Instruments. Based on the
PSAK 71: Financial Instruments. new
standard, The Company is required to
Under this new standard, the Company calculate an allowance for credit losses
must establish an impairment
allowance for
its
losses
financial
for by considering any information related to
assets based on reasonable and the past events, current events, and future
supported information about past events, economic conditions. This method
current conditions, and future economic transformation on the calculation of
conditions. This change in approach to financial assets impairment has no
calculating impairment has no significant significant impact on the carrying amount
impact on the carrying amount of the of the Company's financial assets.
Company's financial assets.
The change in approach in calculating Changes in approach to calculating

the impairment of financial assets has an impairment of financial assets has impact
impact on the carrying amount of the on the carrying value of the Company's
Company's financial assets at the financial assets at the initial implementation
beginning of the adoption of PSAK 71 on of PSAK 71 on January 1, 2020 (Note 4).
January 1, 2020 (Note 4).
• PSAK 72: Revenue from Contracts with • PSAK 72: Revenue from Contracts with
Customers Customers
PSAK 72 replaces PSAK 23: PSAK 72 replaces PSAK 23: “Revenue” and
“Revenue” and introduces a 5 (five) step introduces 5 (five)-step model of revenue
revenue recognition model and determines recognition and determines that the revenue
revenue recognition, which occurs when is recognized when control of goods has
control over been transferred or when
18

the goods have been transferred or at the time (or during) the rendering of services
(or during) the service is rendered (performance (performance obligation is satisfied).
obligations have been fulfilled).
The Company applies PSAK 72 retrospectively The Company applies PSAK 72 retrospectively
with the cumulative effect at the beginning of with the cumulative impact on the initial
its application being recognized on January 1, application recognized on January 1, 2020 and
2020 and does not restate comparative did not restate the comparative information.
information.
Based on the study conducted by the Company Based on the review that the Company has
on revenue contracts with customers by conducted on revenue contracts with customers
referring to the 5 (five) stages contained in with reference to the 5 (five) stages in PSAK
PSAK 72, there is no significant impact on the 72, there is no significant impact on the financial
financial statements so that it does not require statements so it does not require adjustments
adjustments to the opening balance on January in the opening balance on January 1, 2020
1, 2020.
PSAK 73: Leases • PSAK 73: Lease

PSAK 73: Leases were issued in September PSAK 73: Leases was issued in
2017 and effective January 1, 2020 with early September 2017 and has an effective date of
adoption permitted, for entities that apply PSAK January 1, 2020 with earlier application
72: Revenue from Contracts with Customers, permitted, eligible for entity which applies PSAK
on or before the date of initial application of 72: Revenue from Contracts with
PSAK 73: Leases . Customers, at or before initial implementation
that of PSAK 73: Leases.
When applying PSAK 73 “Leases”, the On the application of PSAK 73 “Leases”, the
Company recognizes right-of-use assets and Company recognized right-of-use assets and
lease liabilities in relation to “operating leases” leases liabilities in relation to leases which were
based on the principles in PSAK 30, “Leases”. previously classified as “operating leases” under
Lease liabilities are measured at the present the principles of PSAK 30, “Leases”. These
value of the remaining lease payments, which leases liabilities were measured at the present
are discounted using the Company's incremental value of the remaining leases payments,
borrowing rate on January 1, 2020. discounted using the Company's incremental
borrowing rate on January 1, 2020. The weighted
The weighted average incremental interest rate average of incremental borrowing rate applied
used is 10%. Right-of-use assets are measured was 10%. Right-of-use assets were measured
at the same amount as the lease liability, at the amount equal to the leases liabilities,
adjusted for the amount of payments adjusted by the amount of any prepaid leases
payments relating to that leases and deferred
advances relating to leases and deferred gain gain on sale and leaseback recognized in the
on sale and leaseback statement of
recognized in the statement of financial position
on December 31, 2019. financial as at December 31, 2019.
In applying PSAK 73 “Leases” for the first time, In applying PSAK 73 “Leases” for the first time,
the Company uses a practical method permitted the Company applies a practical method
by the standard by applying a single discount permitted by the standard by applying a single
rate for a portfolio of leases with sufficient discount rate for the rental portfolio with fairly
characteristics. similar characteristics. By applying this standard,
19

similar. On January 1, 2020, the Company's fixed as at January 1, 2020 the Company's property
assets increased by and equipment increased Rp653,501 including
Rp653,501 including reclassification of prepaid reclassification of prepayments amounted to
expenses amounting to Rp241,138. In addition, Rp241,138.
the lease liability In addition, the Company's leases liabilities
The Company increased by Rp553,392 including increased Rp553,392 including
deferred gainreclassification
and of
on saleleaseback
the reclassification of deferred gain on sale and transactions amounted to Rp71,319.
leaseback transactions of Rp71,319.
In accordance with the transitional requirements In accordance with the transitional requirements
in PSAK 73 “Leases”, the Company chose to in PSAK 73 “Leases”, the Company chooses
apply a practical approach at the beginning of the applications with practical approach at the
application being recognized on January 1, 2020 beginning of the applications to be recoganized
and not restating comparative information. on January 1, 2020 and does not restate
comparative information.
2.d. Principles of Consolidation The 2.d. Principles of Consolidation

consolidated financial statements include the Group's The consolidated financial statements include financial
financial statements as described in Note 1.c. statement of Group as stated in Note 1.c.
A subsidiary is an entity controlled by the Group, i.e. A subsidiary is an entity controlled by the Group, that
the Group is exposed, or has rights, to variable returns is the Group exposed, or has rights, to variable returns
from its involvement with the entity and has from its involvement with the entity and has the ability
to affect those returns through its current ability to
the ability to affect those returns through the current direct the entity's relevant activities (power over the
ability to direct the relevant activities of the entity investee).
(power over the investee).
The existence and impact of potential voting rights The existence and effect of substantive potential voting
that the Group has the practical ability to exercise (ie rights that the Group has the practical ability to exercise
substantive rights) are considered when assessing (ie, substantive rights) are considered when assessing
whether the Group controls another entity. whether the Group controls another entity.
The Group's consolidated financial statements include The Group's consolidated financial statements
the results of operations, cash flows, assets and incorporate the results, cash flows, assets and liabilities
liabilities of the Company and all subsidiaries which of the Company and all of its directly and indirectly
are directly and indirectly controlled by the Company. controlled subsidiaries.
Subsidiaries are consolidated from the effective date
Subsidiaries are consolidated from the effective date of acquisition, which is the date on which the Group
of acquisition, which is the date on which the Group effectively obtains control of the acquired business,
effectively obtains control of the acquired business, until that control ceases.
until the date that control expires.
The parent entity prepares the consolidated financial A parent entity prepares consolidated financial
statements using the same accounting policies for statements using uniform accounting policies for like
transactions and other events in similar circumstances. transactions and other events in similar
circumstances. All intragroup transactions, balances,
All transactions, balances, profits, expenses and flows income, expenses and cash flows
20

Intra-group cash related to inter-group are eliminated in full on consolidation to reflect

transactions are eliminated in full to reflect the the financial position as a single business entity.
financial position as a single business entity.
The Group attributes profit or loss and each The Group attributed the profit and loss and each
component of other comprehensive income component of other comprehensive income to
to owners of the parent and non-controlling the owners of the parent and non controlling
interests even though this results in the non- interest even though this results in the non-
controlling interests having a deficit balance. controlling interests having a deficit balance. The
The Group presents the non-controlling interest Group presents non-controlling interest in equity
in equity in the consolidated statement of in the consolidated statement of financial position,
financial position, separate from the owners' separately from the equity owners of the parent.
equity of the parent.
Changes in the parent's interest in a subsidiary Changes in the parent's ownership interest in a
that do not result in a loss of control are equity subsidiary that do not result in loss of control are
transactions (ie transactions with owners in their equity transactions (ie, transactions with owners
capacity as owners). in their capacity as owners).
When the proportion of equity held by non
When the proportion of equity held by non- controlling interest change, the Group adjusted
controlling interests changes, the Group adjusts the carrying amounts of the controlling interest
the carrying amounts of the controlling and non- and non-controlling interest to reflect the changes
controlling interests to reflect the changes in in their relative interest in the subsidiaries. Any
their relative ownership interests in the difference between the amount by which the non-
subsidiaries. The difference between the amount controlling
by which the non-controlling interest is adjusted interests are adjusted and the fair value of the
and the fair value of the amount received or paid consideration paid or received is recognized
is recognized directly in equity and attributed to directly in equity and attributed to the owners of
owners the parent.
from the parent entity.
If the Group loses control, then: a. If the Group loses control, the Group:
derecognizes assets (including goodwill) and a. derecognizes the assets (including goodwill)
liabilities of subsidiaries at their carrying and liabilities of the subsidiary at their carrying
amounts when control is lost, amounts at the date when control is lost,
b. derecognize the carrying amount of any non- b. derecognizes the carrying amount of any non-
controlling interest in controlling interests in the former subsidiary
former subsidiary when control is lost at the date when control is lost (including any
(including any other component of components of other comprehensive income
comprehensive income attributable to non- attributable to them),
interest
controller),
c. recognizes the fair value of the payment c. recognizes value the fair
the consideration
any, from of
received, if
received (if any) from the transaction, event the transaction, event or circumstances that
or circumstance that results in the loss of was in the loss of control,
control,
d. recognizes the remaining investment in the d. recognizes any investment retained in
former subsidiary at fair value at the date the former subsidiary at fair value at
when control is lost, the date when control is lost,
e. reclassify to profit or loss, or transfer directly e. reclassify to profit or loss, or transfer directly
to retained earnings if required by another to retained earnings if required by other
SAK, the amount SAKs, the amount recognized in other
21

recognized in other comprehensive income comprehensive income in relation to the

in relation to a subsidiary, subsidiary,
2.e. Transactions and Balances in Currencies 2.e. Foreign Currency Transactions and Balances
Foreign
In preparing the consolidated financial In preparing consolidated financial statements,
statements, each entity within the Group records each of the entities within the Group record by
using the currency of the primary economic using the currency of the primary economic
environment in which the entity operates (the environment in which the entity operates (“the
“functional currency”). The functional currency functional currency”). The functional currency of
of the Group is Rupiah. the Group is Rupiah.
Transactions during the year denominated in Transactions during the years in foreign
foreign currencies are recorded in Rupiah currencies are recorded in Rupiah by applying to
at the spot rate between Rupiah and foreign the foreign currency amount the spot
currency on the transaction date. At the end of exchange rate between Rupiah and the foreign
the reporting period, monetary items denominated currency at the date of transactions. At the end
in foreign currencies are translated into Rupiah of reporting period, foreign currency monetary
using the closing rate, which is the middle rate items are translated to Rupiah using the closing
Bank Indonesia as of June 30, 2021 and rate, ie middle rate of Bank of Indonesia at June
December 31, 2020 as follows: 30, 2021 and
December 31, 2020 are as follows:

2021 2020
Rp Rp
1 United States Dollar (USD) 14,496 14.105 1 United States Dollar (USD)
1 Euro (EUR) 17.255 17,330 1 Euro (EUR)
1 Singapore Dollar (SGD) 10,781 10,644 1 Singapore Dollar (SGD)
1 Australian Dollar (AUD) 10,915 10,771 1 Australian Dollar (AUD)
Exchange differences arising from the settlement of Gain or loss from foreign exchange differences
monetary items and from the translation of monetary arising from foreign currency transactions are
items in foreign currencies are recognized in profit or loss. recognized in profit or loss.
2.f. Cash and Cash Equivalents and Restricted 2.f. Cash and Cash Equivalents and Restricted
Funds Fund
Cash and cash equivalents include cash on Cash and cash equivalents are cash on hand,
hand, cash in banks (current accounts) and time cash in banks (current account) and time deposits
deposits with maturities of three months or less with maturity periods of three months or less at
at the time of placement that are not used as the time of placement that are not used as
collateral or are not restricted. collateral or are not restricted.
its use.
Restricted deposits will be used to pay Restricted deposits will be used for repayment
commitments made of currently maturing commitments related to
maturing within one year in accordance with the terms of the acquisition agreement are presented
terms of the acquisition agreement are presented as “Restricted Funds” under the Current Assets
as “Restricted Funds” and presented as part of section of the consolidated statements of financial
Current Assets in the consolidated statement of position.
financial position.
22

2.g. Transactions and Balances with Related 2.g. Related Parties Transactions and Balances
Parties A related party is a person or entity A related party is a person or an entity that is
related to the reporting entity: related to the reporting entity:
(a) A person or immediate family member has a (a) A person or a close member of that person's
relationship with the reporting entity if that family is related to a reporting entity if that
person: person:
(i) has control or joint control over the (i) has control or joint control over the
reporting entity; reporting entity;
(ii) has a significant influence on (ii) has significant influence over the reporting
reporting entity; or entity; or
(iii) are key management personnel of the (iii) is a member of the key management
reporting entity or parent personnel of the reporting entity or of a
reporting entity. parent of the reporting entity.
(b) An entity is related to the reporting entity if (b) An entity is related to the reporting entity if
one of the following conditions is met: any of the following conditions applies:
(i) The entity and the reporting entity are (i) The entity and the reporting entity are
members of the same business group members of the same group (which
(meaning that the parent, subsidiary means that each parent, subsidiary and
and subsequent subsidiaries are related fellow subsidiary is related to the others;
to the other entity);
(ii) One entity is an associate or joint venture (ii) One entity is an associate or joint venture
of another entity (or an associate or of the other entity (or an associate or
joint venture that is a member of a joint venture of a member of a group of
business group, of which the other which the other entity is a member);
entity is a member);
(iii) the two entities are joint ventures of the (iii) Both entities are joint ventures of the
same third party; same third party;
(iv) One entity is a joint venture of a third (iv) One entity is a joint venture of a third
entity and the other entity is an entity and the other entity is an associate
associate of a third entity; of the third entity;
(v) The entity is a post-employment benefit (v) The entity is a post-employment benefit
plan for employee benefits of either the plan for the benefits of employees of
reporting entity or an entity related to either the reporting entity, or an entity
the reporting entity. If the reporting related to the reporting entity. If the
entity is the entity that administers the reporting entity is the organizer of such
program, the sponsoring entity is also a plan, the sponsoring employers are
related to the reporting entity; also related to the reporting entity;
(vi) Entities controlled or jointly controlled by (vi) The entity is controlled or jointly
the person identified in (a); (vii) The controlled by a person identified in (a);
person identified in (a) (i) has significant
influence over the entity or the key (vii) A person identified in (a) (i) has
management personnel of the entity significant influence over the entity or is
(or a parent of the entity); or a member of the key management
personnel of the entity (or a parent of
the entity); or
23

(viii) The entity, or a member of a group to (viii) The entity, or any member of a group
which it is a part, provides key which it is a part, provides key
management personnel services to the management personnel services to the
reporting entity or to the parent of the reporting entity or to the parent of the
reporting entity. reporting entity.
All significant transactions and balances with All significant transactions and balances with related
related parties are disclosed in the relevant Notes. parties are disclosed in the relevant Notes.
2.h. Inventories 2.h. Inventories

Inventories are stated at the lower of cost and net Inventories are carried at the lower of cost and
realizable value. Cost is determined using the net realizable value. Cost is determined using
average method. Net realizable value is the the weighted average method. Net realisable value
estimated selling price in the ordinary course of is the estimated selling price in the ordinary course
business less estimated costs of completion and of business less the estimated costs of completion
estimated costs incurred and the estimated costs necessary to make
needed to make a sale. the sale.
Any write-down of inventories below cost to net The amount of any write-down of inventories to net
realizable value and all losses on inventories are realisable value and all losses of inventories shall
recognized as an expense in the period in which be recognized as an expense
the write-down or loss occurs. Any reversal of the in the period the write-down or loss occurs.
decline in the value of inventories due to an The amount of any reversal of any write-down of
increase in net realizable value is recognized as a inventories, arising from an increase in net realisable
reduction to the total cost of inventories in the value, is recognized as a reduction in the amount
period in which the recovery occurs. of inventories recognized as an expense in the
period in which the reversal occured.
2.i. Prepaid Expenses Prepaid 2.i. Prepaid Expenses

expenses are amortized over the period of benefit Prepaid expenses are amortized over the period
of each expense using the straight-line method. benefitted using the straight-line method.
2.j. Investments in Associates An 2.j. Investment in Associate

associate is an entity over which the Group has Associate is entities which the Group has
the power to participate in the financial and the power to participate in the financial and operating
operating policy decisions of the investee, but doesnot policy decisions of the investee but not control or
control or jointly control
influence).
those policies (significant joint control over those policies (significant influence).
Investments in associates are accounted for using Investment in associate accounted for using the
the equity method. Under the equity method, the equity method. Under the equity method, the
initial recognition of an investment is recognized at investment is initially recognized at cost, and the
cost, and the carrying amount is increased or carrying amount is increased or decreased to
decreased to recognize the investee 's share of recognize the investor's share of the profit or loss of
profit or loss after the date . the investee after the date of acquisition.
acquisition. Share of investee 's profit or loss The investor's share of the profit or loss of the
recognized in profit or loss. Distribution acceptance investee is recognized in profit or loss.
of the investee reduces the carrying amount Distributions received from an investee reduce
24

investation. Adjustments to the carrying amount may the carrying amount of the investment.
also be required for changes in the investor's Adjustments to the carrying amount may also be
proportionate share of the investee arising from necessary for changes in the investor's proportionate
other comprehensive income, including changes interest in the investee arising from changes in the
arising from revaluations of property, plant and investee's other comprehensive income, including
equipment and foreign currency translation those arising from the revaluation of property and
differences. equipment and from foreign exchange translation
The investor's share of these changes is recognized differences. The investor's
recognizedshare of those
in other changes is
comprehensive
in other comprehensive income. income.
The Group discontinues the use of the equity method The Group discontinues the use of the equity method
from the date when its investment ceases to be an from the date when its investment
associate as follows: ceases to be an associate as follows:
(a) if the investment becomes a subsidiary. (a) If the investment becomes a subsidiary.
(b) if the remaining interest in an associate is a (b) If the retained interest in the former associate is a
financial asset, the Group measures the financial asset, the Group measures the retained
remaining interest interest at fair value.
at fair value.
(c) when the Group discontinues the use of the (c) when the Group discontinues the use of the equity
equity method, the Group accounts for all method, the Group account for all
amounts previously recognized in other amounts previously recognized in other
comprehensive income related to the investment comprehensive income in relation to that
on the same treatment basis as would be required investment on the same basis as would have
if the investee been required if the investee had directly
disposed of the related assets or liabilities.
has directly disposed of the related assets and
liabilities.
2.k. Fixed Assets 2.k. Property and Equipment

Fixed assets are initially recognized at cost which Property and equipment are initially recognized at
includes their cost and any costs directly attributable cost, which comprises its purchase price and any
to bringing the asset to its original condition and cost directly attributable in bringing the assets to the
condition. location and condition
the desired location for the asset to be ready for use necessary for it to be capable of operating in
as intended by management. the manner intended by management.
Where relevant, acquisition cost may also include When applicable, the cost may also consist
an initial estimate of the costs of dismantling and the initial estimate of the costs of dismantling and
removing property, plant and equipment and removing the item and restoring the site on which it
restoring the site of property, plant and equipment, is located, the obligation for which an entity incurs
the obligation arising when the property, plant and either when the item is acquired or as a consequence
equipment is acquired or as a consequence of using of having used the item during a particular period for
the property, plant and equipment during a specified purposes other than to produce inventories during
period for purposes other than to produce inventories that period.
during that period.
After initial recognition, property, plant and equipment except After initial recognition, property and equipment,
Land is stated at cost less accumulated depreciation except land, are carried at its cost less any
and any accumulated impairment losses. accumulated depreciation, and any
accumulated impairment losses.
25

Land is recognized at cost and is not depreciated. Lands are recognized at their cost and are not
depreciated.
Depreciation of property, plant and equipment Depreciation of property and equipment starts when
begins when the asset is ready for its intended use it is available for use and is computed by using
and is calculated by straight-line method based on the estimated useful
using the straight-line method based on the lives of assets as follows:
estimated useful lives of the assets as follows:
Year/
years
Building, Infrastructure and Renovation 4 – 20 Building, Infrastructure and Renovations
Medical Supplies and Equipment 4–8 Medical Supplies and Equipment
Office Equipment and Furniture 4 – 10 Furniture, Fixtures and Office Equipment
Vehicle 4–5 Vehicles
Maintenance and repair costs are charged to current The cost of repairs and maintenance is charged to
period operations when incurred, while restoration operation as incurred while
and renovations and additions are capitalized.
additions are capitalized. Carrying value of The carrying value of the part replaced was written-
replaced components are written off. off.
Fixed assets that are self-constructed are presented Self-constructed property and equipment are
as part of fixed assets as “Assets in Construction” presented as part of the property and equipment
and stated at cost. All costs incurred in connection under “Construction in Progress” and are stated at
with the completion of the asset are capitalized as its cost. All costs incurred in relation with the
part of the cost of property, plant and equipment in construction of these assets are capitalized as part
progress. of the cost of assets in construction. Cost of assets
in construction
The cost of fixed assets under construction does shall exclude any internal profits, cost of abnormal
not include any internal profits, abnormal amounts amounts of wasted material, labour, or other
of wasted costs incurred in the use of raw materials, resources incurred.
labor or other resources.
Accumulated acquisition costs that will be transferred The accumulated costs will be transferred to the
to the appropriate item of property, plant and respective property and equipment items at the
equipment when the asset is completed time the asset is completed or ready for use and
worked or ready for use and depreciated since are depreciated since the operation.
operation.
The carrying amount of an item of property, plant The carrying amount of an item of property and
and equipment is derecognized upon disposal or equipment is derecognized upon disposal or when
when no future economic benefits are expected no future economic benefits are
from its use or disposal. The gain or loss arising expected from its use or disposal. Any gain or loss
from the derecognition (which is determined as the arising from derecognition (that determined as the
difference between the net disposal proceeds, if difference between the net
any, and the carrying amount) is included in profit disposal proceeds, if any, and the carrying amount
or loss at the time the derecognition is made. of the item) is included in profit or loss when the
item is derecognized.
26

At the end of the reporting period, the Group At the end of each reporting period, the Group
conducts periodic reviews of the useful lives, made regular review of the useful lives, residual
residue, depreciation method, and remaining life values, depreciation method and residual life
use based on technical conditions. based on the technical conditions.
2.l. Leases 2.l. Lease

At the date of inception of the contract, the Group At inception of a contract, the Group shall assess
assesses whether the contract is, or contains, a whether the contract is, or contains, a
lease. A contract is or contains a lease if the leases. A contract is, or contains, a lease if the
contract provides for the right to control the use contract conveys the right to control the use of an
of an identified asset for a period of time in identified asset for a period of time in exchange
exchange for consideration. for consideration.
To assess whether the contract provides the right To assess whether a contract conveys the right
to control the use of the asset to control the use of an identified asset for a
identified over a period of time, the Group period of time, the Group shall assess whether,
assess whether during the period of use, the throughout the period of use, the Group has both
Group has the following two: of the following:
(a) the right to derive substantially all of the (a) the right to obtain substantially all of the
economic benefits
identified
fromasset;
the use
andof the economic benefits from use of the
identified assets; and
(b) the right to direct the use of the identified (b) the right to direct the use of the identified
asset, ie only if: i. The Group has the right to asset, only if either:
direct how and for what purposes the assets (i) the Group has the right to direct how and
are used during the period of use; or for what purpose the asset is used
throughout the period of use; or
ii. Relevant decisions about how and for what (ii) the relevant decisions about how and
purposes assets are used are for what purpose the assets are used
predetermined and: are predetermined and:
The Group has the right to operate the • the Group has the right to operate
asset (or direct others to operate the the asset (or to direct others to
asset in a predetermined manner)
during the period of use, operate the asset in a manner that
without the supplier having the right it determines) throughout the period
to of use, without the supplier having
the right to change those operating
change operation instructions
the; or instructions; or
• The Group designs the asset (or a • the Group designed the asset (or
particular aspect of the asset) in a specific aspects of the asset) in a
manner that pre-determines how and
for what way that predetermines how and
purpose the asset will be used during for what purpose the asset will be
the period of use used throughout the period of
use.
Group as Lessee Group as Lessee

At the commencement date, the Group recognizes right- At the commencement date, the Group shall
of-use assets and lease liabilities recognize a right-of-use asset and a lease liability.
27

After the commencement date, the Group After the commencement date, the Group shall
measures right-of-use assets using the cost model, measure the right-of-use asset applying a cost
which is cost less accumulated depreciation and model, which is cost less accumulated depreciation
accumulated losses and accumulated impairment losses, and adjusted
impairment, and adjusted for remeasurement of for remeasurement of
liabilities Right-of-use
usingassets
the straight-line
are depreciatedrent.
method. lease liabilities. Right-of-use asset depreciated
with using straight line method.
If the lease transfers ownership of the underlying If the lease transfers ownership of the underlying
asset at the end of the lease term or if the cost of asset to the lessee by the end of the
the right-of-use asset reflects that the lessee will lease term or if the cost of the right-of-use asset
exercise a call option, the lessee depreciates the Reflects that the lessee will exercise a purchase
right-of-use asset from the commencement date option, the lessee shall depreciate the right-of-use
to the end of the useful life of the underlying asset, asset from the commencement date to the end of
which refers to the terms of the useful life of the the useful life of the underlying asset , which refers
property, plant and equipment. . Otherwise, the to the terms of the useful life of the fixed asset.
right-of-use asset is depreciated from the inception Otherwise, the lessee shall depreciate the right-of-
date to the earlier of the end of the right-of-use use asset from the commencement date to the
asset's useful life or the end of its useful life. earlier of the end of the useful life of the right-of-
rent. use
asset or the end of the lease term.
At the commencement date, the Group measures At the commencement date, the Group shall
the lease liability at the present value of the unpaid measure the lease liability at the present value of
lease payments at that date. the lease payments that are not paid at that date.
The lease payments are discounted using the The lease payments shall be discounted using the
interest rate implicit in the lease, if such interest interest rate implicit in the lease, if that rate can
can be determined. If the interest rate cannot be be readily determined. If that rate cannot be readily
determined, the Group uses the Group's determined, the Group shall use the Group's
incremental borrowing rate. incremental borrowing rate.
After the commencement date, the Group After the commencement date, the Group shall
measures the lease liability by: measure the lease liability by:
a. increase the carrying amount to reflect interest a. increasing the carrying amount to reflect
on the lease liability; interest on the lease liability;
b. reduce the carrying amount to reflect the rent b. reducing the carrying amount to reflect the
already paid; lease payments made; and
c. remeasure the carrying amount to reflect a c. remeasuring the carrying amount to reflect any
revaluation or modification of a lease or to reassessment or lease modifications, or to
reflect reflect the revised in-substance fixed lease
rental payments remain substantially revised. payments.
Lease liabilities are remeasured when there is a It is remeasured when there is a change in future
change in future lease payments lease payments arising from a change in an index
arising from changes in index or interest rates, if or rate, if there is a change in the
there is a change in the Group's estimate of the Group estimate of the amount expected to be
amount expected to be paid under the residual payable under a residual value guarantee, or if the
value guarantee, or if the Group changes its Group changes its assessment of whether it will
assessment of whether to exercise the call, exercise a purchase, extension or termination
extension or termination options. option.
28

When the lease payable is remeasured in this way, a When the lease liability is remeasured in this way, a
corresponding adjustment is made to the carrying corresponding adjustment is made to the carrying
amount of the right-of-use asset, or recorded in profit amount of the right-of-use assets,
or loss if the carrying amount of the right-of-use asset or is recorded in profit or loss if the carrying
has decreased to zero. amount of the right-of-use asset has been reduced to
zero.
Lease modifications Lease modification

The Group accounts for lease modifications as The Group accounts for a lease modification as a
separate leases if: separate lease if both:
• Modifications increase the scope of the lease by • The modification increases the scope of the lease by
adding the right to use one or more underlying adding the right to use one or more underlying
assets; and assets; and
The rental fee is increased by an amount equivalent to • The consideration for the lease increases by an
the stand-alone price for an increase in scope and amount commensurate with the stand-alone price
appropriate adjustments to the stand-alone price for the increase in scope and any appropriate
to reflect certain contractual conditions. adjustments to that
stand-alone price reflects thetocircumstances of the
particular contract.
For lease modifications that are not accounted for as a For a lease modification that is not accounted for as a
separate lease, at the effective date of the lease separate lease, at the effective date of
modification, the Group: the lease modification, the Group:
• Re-measure and allocate modified contract benefits; • Remeasure and allocate the consideration
in the modified contract;
• Determine the lease term of the lease • Determine the lease term of the modified
modification; leases;
• Re-measure the lease liability by discounting the • Remeasure the lease liability by discounting the
revision lease payments using the revision revised lease payments using a revised discount
discount rate based on the remaining lease term rate on the basis of the remaining lease term and
and the remaining lease payments by making the remaining lease payment with a corresponding
adjustments to right-of-use assets. adjustment to the right-of use assets. The revised
discount rate is determined as the Company's
The revised discount rate is determined as the incremental borrowing rate at the effective date of
incremental borrowing rate the modification;
Company on the effective date of the modification;
• Decrease the carrying amount of right-of-use assets • Decrease the carrying amount of the right
to reflect partial retirements of - use asset to reflect the partial or full termination
or fully lease for lease modifications that decrease of the lease for lease
the scope of the lease. The Group recognizes in modifications that decrease the scope of the lease.
profit or loss any profit or loss related to partial or The Group recognizes in profit or loss any gain or
complete discontinuation loss relating to the partial or full termination of the
lease; and
the lease; and
• Make adjustments related to right-of-use assets for • Make a corresponding adjustment to the right-of-use
all other lease modifications. asset for all other lease modifications.
Short term leases and low value asset leases Short-term leases and leases of low-value assets
The Group has chosen not to recognize right-of-use The Group has elected not to recognize right of-use
assets and lease liabilities for asset leases assets and lease liabilities for leases of
29

low value and short term leases. Group low-value assets and short-term leases. The
recognizes the lease payments related to this Group recognizes the lease payments associated
lease as an expense on a straight-line basis over with these leases as an expense on a straight-
the lease term. line basis over the lease term.
Group as lessor (lessor) Group as lessor

There is no significant difference between PSAK There is no significant difference between PSAK
73 and the previous accounting standard for 73 and the previous accounting standard for
lessees (PSAK 30). lessors (PSAK 30).
2.m. Impairment of Assets 2.m. Impairment of Assets

At the end of each reporting period, the Group At the end of each reporting period, the Group
assesses whether there is any indication that assess whether there is any indication that an
the assets are impaired. If any such indication asset may be impaired. If any such indication
exists, the Group estimates the asset's exists, the Group
amountshall
of the
estimate
asset. the recoverable
recoverable amount. The recoverable amount is
determined for an individual asset, and if this is The recoverable amount is determined for an
not possible, the Group determines the individual asset, if its not possible, the Group
recoverable amount of the cash-generating unit determines the recoverable amount of the asset's
of the asset. cash-generating unit.
The recoverable amount is the higher of the fair The recoverable amount is the higher of fair
value less costs to dispose of and the value in value less costs to sell and its value in use.
use. Value in use is the present value of the Value in use is the present value of the estimated
cash flows that are expected to be received from future cash flows of the asset or cash generating
the asset or cash-generating unit. unit. Present values are computed using pre-tax
Present value is calculated using a pre-tax discount rates that reflect the time value of money
discount rate that reflects the time value of and the risks specific to the asset or unit whose
money and the risk specific to the asset or unit impairment is being measured.
whose impairment is measured.
If, and only if, the recoverable amount of the If, and only if, the recoverable amount of an asset
asset is less than its carrying amount, the is less than its carrying amount, the carrying
carrying amount of the asset is written down to amount of the asset shall be reduced to its
its recoverable amount. The decrease is an recoverable amount.
impairment loss and is recognized immediately The reduction is an impairment loss and is
in profit or loss. recognized immediately in profit or loss.
Impairment losses that have been recognized in An impairment loss recognized in prior period for
previous periods for assets other than goodwill an asset other than goodwill is reversed if, and
reversed if, and only if, there has been a change only if, there has been a change in the estimates
in the estimates used to determine the asset's used to determine the asset's recoverable
recoverable amount since the last impairment amount since the last impairment loss was
loss was recognized. If so, the carrying amount recognized. If this is the case, the carrying
of the asset is increased to its recoverable amount of the asset shall be increased to its
amount. This increase is a reversal of the recoverable amount. That increase is a reversal
impairment loss. of an impairment loss.
2.n. Business 2.n. Business Combination

Combination A business combination is a transaction or Business combination is a transaction or other
other events in which the acquirer gains control event in which an acquirer obtains control of
of one or more businesses. Business one or more businesses. Business combination
combinations are accounted for using the is accounted for by applying the acquisition
acquisition method. The reward method. The considerations transferred in a
30

transferred in a business combination is business combination is measured at fair

measured at fair value, which is calculated as value, which is calculated as the sum of the
the sum of the acquisition date fair values of all acquisition-date fair values of the assets
assets transferred by the Group, liabilities transferred by the Group, liabilities incurred by
recognized by the Group to previous owners of the Group to former owners of the acquiree, and
the acquiree and equity interests issued by the the equity interests issued by the Group in
Group in exchange for control. from the side exchange for control of the acquiree.
Acquisition-related costs are recognized as
acquired. Acquisition-related costs are recognized expenses in the periods in which the costs are
as an expense in the period in which they are incurred and the services are received.
incurred and services are received.
On the acquisition date, the identifiable assets At the acquisition date, the identifiable assets
acquired and liabilities assumed are recognized acquired and the liabilities assumed are
at fair value except for assets and recognized at their fair value except for certain
certain liabilities measured in accordance with assets and liabilities that are measured in
the relevant standards. according to the relevant standards.
The non-controlling interest component in the Components of non-controlling interests are

acquiree is measured either at fair value or at measured either at fair value or at the present
the proportionate share of existing ownership ownership instruments' proportionate share in
instruments in the recognized amount of the the recognized amounts of the acquiree's
acquiree's identifiable net assets. identifiable net assets.
When a business combination is carried out in When a business combination is achieved in

stages, the Group's previous interest in the stages, the Group's previously held equity
acquiree is remeasured to fair value at the interest in the acquire is remeasured to fair
acquisition date and the gain or loss, if any, is value at the acquisition date and the resulting
recognized in profit or loss. gain or loss, if any, is recognized in profit or
If, in a prior period, changes in the fair value loss. When in prior periods, a changes in the
arising from its equity interests prior to the value of its equity interest in the acquiree prior to
acquisition date have been recognized in other the acquisition date had been
comprehensive income, that amount is recognized recognized in other comprehensive income, that
on the same basis as would be required if the amount shall be recognized on the same basis
Group had disposed of directly the previously as would be required if the Group had disposed
held equity interests. directly of the previously held equity interest.
If the initial accounting for a business combination If the initial accounting for a business
has not been completed by the end of the combination is incomplete by the end of
reporting period in which the combination the reporting period in which the combination
occurred, the Group reports provisional amounts occurs, the Group reports provisional amounts
for the items for which the accounting process for the items for which the accounting is
has not been completed in its financial incomplete. Those provisional amounts are
statements. During the measurement period, the adjusted during the measurement period, or
acquirer adjusts, additional assets or liabilities additional assets or liabilities are recognized, to
recognized, to reflect new information obtained reflect new information obtained about facts and
about facts and circumstances that existed at circumstances that existed as of
the acquisition date and, if known, would have the acquisition date that, if known, would have
resulted in the recognition of those assets and derived in the recognition of those assets and
liabilities at that date. liabilities as of that date.
31

At the acquisition date, goodwill is measured at At the acquisition date, goodwill is measured at its
cost which is the excess of (a) the combined value cost being the excess of (a) the aggregate of the
of the consideration considerations transferred and the amount of any
transferred and the amount of any non-controlling non-controlling interest, over (b) the net of identifiable
interest, on (b) the net identifiable amount of the assets acquired and liabilities assumed. If this
assets acquired and liabilities assumed. If the consideration is lower than the fair value of the net
consideration is less than the fair value of the net assets of the subsidiary acquired, the difference is
assets recognized in profit or loss as gain on bargain
the acquired subsidiary, the difference is recognized purchase after the management reassesses whether
in profit or loss as gain from the acquisition of the it has correctly identified all of the assets acquired
subsidiary after management has previously and all of the liabilities assumed and recognize any
reassessed whether it has correctly identified all additional assets or liabilities that are identified in
the assets acquired and the liabilities assumed and that review.
recognized any assets or liabilities.
additional liabilities that can be identified in the

review.
After initial recognition, goodwill is measured at After initial recognition, goodwill is measured at cost
carrying amount less any accumulated impairment less any accumulated impairment losses.
losses. Regardless of whether there is any Irrespective of whether there is any indication of
indication of impairment, goodwill is tested for impairment, goodwill is tested for impairment
impairment on an annual basis. For impairment annually. For the purpose of impairment testing,
testing purposes, goodwill goodwill acquired in a business
The proceeds from a business combination, from combination, from the acquisition date, be allocated
the acquisition date, are allocated to each of the to each of the Group's Cash Generating Units that
Group's Cash Generating Units that are expected is expected to benefit from the synergies of the
to benefit from the synergies of the business combination, irrespective of whether other assets
combination, regardless of whether other assets or or liabilities of the acquiree are assigned to those
liabilities of the acquiree are placed in the Cash Cash Generating Units.
Generating Unit.
If goodwill has been allocated to a cash-generating If goodwill has been allocated to Cash Generating
unit and certain operations of that cash-generating Units and certain operation on the Cash Generating
unit are disposed of, the goodwill associated with Units is disposed, the goodwill associated with the
the disposed operation is included in the carrying operation disposed is included in the carrying
amount of the operation when determining the gain amount of
or loss on disposal. the operation when determining the gain or loss on
disposal. Disposed goodwill is measured on the
Goodwill released is measured based on the basis of relative values of
relative value of discontinued operations
portion and the
of the Cash the operation disposed of and the portion of the
Generating Unit retained. Cash Generating Units retained.
2.o. Intangible Assets 2.o. Intangible Assets

Intangible assets are measured at cost at initial Intangible assets are measured on initial recognition
recognition. After initial recognition, intangible at cost. After initial recognition, intangible assets
assets are carried at cost less accumulated are carried at cost less any accumulated amortization
amortization and accumulated impairment losses. and any accumulated lifeimpairment
of intangibleloss.
assets
Theisuseful
assessed to
be either limited or unlimited.
The useful life of an intangible asset is assessed
whether it is limited or indefinite.
32

Goodwill Goodwill
Goodwill arising in a business combination is initially Goodwill arising in a business combination is initially
measured at cost, which is the excess of the combined measured at its cost, being the excess of the sum of the
value of the consideration transferred, the amount of considerations transferred, the amount of any non-
any non-controlling interests, and the fair value of the controlling interests in the acquiree, and the fair value
equity interests the acquirer has in the acquiree over of the acquirer's previously held equity interest in the
the identified net amount of the assets. earned and acquiree (if any) over the net of the acquisition-date
liabilities assumed. amounts of the identifiable assets acquired and the
liabilities assumed.
After initial recognition, goodwill acquired in a business After initial recognition, goodwill acquired in a business
combination is measured at cost less any accumulated combination is measured at cost less any accumulated
impairment losses. Goodwill is not amortized. impairment losses.
Goodwill is not amortized.
Intangible assets with a limited useful life Intangible asset with limited useful life
Intangible assets with a limited useful life are amortized Intangible asset with finite life is amortized over the
over their economic useful lives using the straight-line economic useful life by using a straight-line method.
method.
Amortization is calculated as the write-off of the cost of Amortisation is calculated so as to write off the cost of
the asset, less its residual value, over its economic life the asset, less its estimated residual value, over its
as follows: useful economic life as follows:
Software 5 years straight-line/ 5 years straight-line Software
The amortization period and the amortization method The amortization period and the amortization method
for intangible assets with a limited useful life are for an intangible asset with a limited useful life are
reviewed at least at the end of each financial year. reviewed at least at each financial years-end.
2.p. Provisions 2.p. Provisions

Provisions are recognized when the Group has a Provisions are recognized when the Group has a present
present obligation (legal or constructive) as a result of obligation (legal as well as constructive) as a result of
past events past events and it is more likely than not that an outflow
and it is probable that the settlement of the obligation of resources embodying economic benefits will be
will result in an outflow of resources and the obligation required to settle the obligation and a reliable estimate
can be estimated reliably. of the amount on the obligation can be made.
2.q. Employee Benefits 2.q. Employee Benefits

Short-term Employee Benefits Short-term employee benefits
Short-term employee benefits are recognized when Short-term employee benefits are recognized when an
employees have rendered services within an accounting employee has rendered service during
period, at the undiscounted amount of the short-term an accounting period, at
employee benefits expected to be paid in exchange for the undiscounted amount of short-term employee
the services. benefits expected to be paid in exchange for that service.
Short-term employee benefits include, among others, Short term employee benefits include such as
wages, salaries, bonuses and incentives. wages, salaries, bonuses and incentives.
33

Post-employment Post-employment Benefits

benefits Post-employment benefits such as pensions, money Post-employment benefits such as retirement,
severance pay and years of service are calculated severance and service payments are calculated
based on the Manpower
13/2003").Act No.13/2003 ("Law based on Labor Law No. 13/2003 (“Law 13/2003”).
The Group recognizes the net defined benefit The Group recognizes the amount of the net defined
obligation at the present value of the defined benefit benefit liability at the present value of the defined
obligation at the end of the reporting period less the benefit obligation at the end of the reporting period
fair value of plan assets calculated by actuaries. less the fair value of plan assets which calculated by
independent by using the Projected Unit Credit independent actuaries using the Projected Unit Credit
method. The present value of the defined benefit method. Present value benefit obligation is determined
obligation is determined by discounting the benefits. by discounting the benefit.
The Group records not only legal obligations The Group account not only for its legal obligation
based on formal program requirements under the formal terms of a defined benefit plan, but
defined benefits, but also constructive obligations also for any constructive obligation that arises from
arising from the entity's informal practices. the entity's informal practices.
Current service costs, past service costs and gain or Current service cost, past service cost and gain or
loss on settlement, as well as net interest on the net loss on settlement, and net interest on the net defined
defined benefit liability (asset) are recognized in profit benefit liability (asset) are recognized in profit and
or loss. loss.
Remeasurement of the net defined benefit liability The remeasurement of the net defined benefit liability
(asset) which consists of actuarial gains and losses, (assets) comprises actuarial gains and losses, the
return on plan assets and any changes in the impact return on plan assets, and any change in effect of the
of the asset ceiling is recognized as other asset ceiling are recognized in other comprehensive
comprehensive income. income.
Severance Termination Benefits

pay The Group recognizes severance pay as a The Group recognizes a liability and expense for
liability and expense at the earlier of: termination benefits at the earlier of
the following dates:
a. When the Group can no longer withdraw the offer a. When the Group can no longer withdraw the offer
for such benefits; and of those benefits; and
b. When the Group recognizes costs for restructuring b. When the Group recognizes costs for a restructuring
that are within the scope of PSAK 57 and involve that is within the scope of PSAK 57 and involves
payment of
severance payment. termination benefits.
The group measures severance pay at The Group measures termination benefits on initial
initial recognition, and measuring and acknowledging recognition, and measures and recognizes subsequent
subsequent changes, according to the nature of changes, in accordance with the nature of the
employee benefits. employee benefits.
2.r. Business Combination of Entities Under Common Control 2.r. Business Combination of Entities Under
Common Control
Business transactions of entities under common control,
combination Business combination of entities under common
in the form of business transfers carried out in the context control transactions, such as transfers of business
of reorganizing the entity conducted within the framework of the
34

entities that are in a group reorganization of the entities that are in the same
the same business, is not a change of ownership group is not a change of ownership in terms of
in terms of economic substance, so the transaction economic substance, so that the transaction can not
can not result in a profit or loss for the Group as a result in a gain or loss for
whole or for the individual entities within the Group. the Group as a whole or the individual entity within
the Group.
Since the restructuring transaction between entities Due to business combination transactions of entities
under common control does not result in a change under common control does not lead to change in
in the economic substance of the ownership of the economic substance of ownership on the exchanged
assets, liabilities, shares or other ownership asset, liability, shares or other ownership instrument,
instruments that are exchanged, the assets or then the transferred asset or liability (in its legal
liabilities whose ownership is transferred (in their form) is recorded at
legal form) are recorded at book value as in a its carrying amount as well as a business combination
business combination based on the pooling of under the pooling of interest method.
interest method.
The entity that receives the business, in a business An entity that receives the business, in a business
combination of entities under common control, combination of entities under common control,
recognizes the difference between the amount of the recognizes the difference between the amount of
consideration transferred and the carrying amount of the consideration transferred and the carrying
each transaction under
in the business
common control
combination
additional
in equity
of
paid-in
entities
capital
in the amount of each transaction is a business combination
account. of entities under common control in equity under
additional paid in capital.
If the entity that received the business then If the entity that received the business, then
disposes of the previously acquired business entity, disposes of the business entity acquired previously,
the previously recorded additional paid-in capital the additional paid-in capital recorded before, can
account cannot be recognized as realized profit or not be recognized as a realized gain or loss nor
loss or reclassified to retained earnings. reclassified to retain earnings.
2.s. Revenue and Expense Recognition 2.s. Revenue and Expense Recognition
The Group applies PSAK 72: Revenue from The Group implements PSAK 72: Revenue from
Contracts withrecognition
Customers,towhich
fulfill 5requires
analysis (five) revenue
as follows:
steps of1. Contracts with Customers, which requires revenue
Identification of contracts with customers. recognition to fulfill 5 (five) steps of assessment as
follows:
1. Identify the contract(s) with a customer.

2. Identification of performance obligations in the 2. Identify the performance obligations in the
contract. Performance obligations are contract. Performance obligations are promises
promises in the contract to deliver goods or in a contract to transfer to a customer goods or
services that have ownership to the customer. services that are distinct.
different characteristics
3. Determine the transaction price, after deducting 3. Determine the transaction price, net of discounts,
discounts, sales incentives and value added sales incentives and value added tax, which an
tax, which an entity is entitled to receive as entity expects to be entitled in exchange for
compensation for the delivery of goods or transferring the promised goods or services to a
services promised in the contract. customer.
35

4. Allocation of transaction prices to each 4. Allocate the transaction price to each

performance obligation using the basis of the performance obligation on the basis of the
relative stand-alone selling price of each relative stand-alone selling prices of each
different goods or services promised in the distinct goods or services promised in the
contract. When not directly observable, the contract. Where these are not directly
relative stand-alone selling price is estimated observable, the relative stand-alone selling
based on expected costs plus margin. price estimated
plus margin.
based on are expected cost
5. Recognition of revenue when performance 5. Recognize revenue when performance

obligations have been fulfilled by delivering obligation is satisfied by transferring a
the promised goods or services to the promised goods or services to a customer
customer (when the customer already has (which is when the customer obtains control
control over the goods or services). Revenue of that goods or services). Revenue is
is recognized when the Company fulfills its recognized when the Company satisfies a
performance obligations by transferring goods performance obligation by transferring a
promised good or service to the customer
or services promised to obtains control of the good or service.
customer, that is, when the customer gains A performance obligation may be satisfied at
control of the goods or services. Performance point in time. The amount of revenue
obligations can be fulfilled at a certain time. recognized is the amount allocated to the
The amount of revenue recognized is the satisfied performance obligation.
amount allocated to the performance
obligations that are met.
Burden Expenses
Expenses are recognized when incurred Expenses are recognized when they are incurred
(accrual principle) (accrual basis).
2.t. Income Tax 2.t.Income Income Tax

Tax expense is the combined amount of current tax and deferred Tax expense
tax whichis the aggregate
is taken amount in
into account included
the
determination of profit or loss for the period in respect of current
loss for
taxa and
period.
deferred
Current
in determining
tax and deferred
profittax
or
are recognized
tax is recognized in profit or loss, except for income tax arising as tax. or
from transactions Current
eventstax and
that aredeferred
recognized in other comprehensive income or directly in other equity.
comprehensive
In this case, income
the tax is
orrecognized
directly in equity.
in other
comprehensive income or equity .
by
or equity.
The amount of current tax for the current and Current tax for current and prior periods shall, to
previous periods that has not been paid is the extent unpaid, be recognized as a liability. If
recognized as a liability. If the amount of tax paid the amount already paid in respect of current and
for the current period and prior periods exceeds prior periods exceeds the amount due for those
the amount of tax payable for the period, the periods, the excess shall be recognized as an
excess is recognized as an asset. Current tax asset. Current tax liabilities (assets) for the
liabilities (assets) for the current and prior periods current and prior periods shall be measured at
are measured at the amounts expected to be the amount expected to be paid to (recovered
paid to (refunded from) the taxation authority, from) the taxation authorities, using the tax rates
which (and tax laws) that have been enacted or
substantively enacted by the end of
calculated using tax rates (and laws)
36

tax laws) that have been enacted or substantively the reporting period.
enacted at the end of the reporting period.
The benefit related to the tax loss that can be Tax benefits relating to tax loss that can be carried
drawn back to recover the current tax from the back to recover current tax of a previous period is
previous period is recognized as an asset. Deferred recognized as an asset.
tax assets are recognized for the carry forward of Deferred tax asset is recognized for the carryforward
unused tax losses and unused tax credits to the of unused tax losses and unused tax credit to the
extent possible extent that it is
large future taxable profit will be probable that future taxable profit will be available
available for use against unused tax losses and against which the unused tax losses and unused
unused tax credits. tax credits can be utilized.
All taxable temporary differences are recognized A deferred tax liability shall be recognized for all
as deferred tax liabilities, except for taxable taxable temporary differences, except to
temporary differences arising from: the extent that the deferred tax liability arises
from:
a) initial recognition of goodwill; or b) a) the initial recognition of goodwill; or
the initial recognition of an asset or liability from a b) the initial recognition of an asset or liability in a
transaction that is not a business combination transaction which is not a business combination
and at the time of the transaction does not and at the time of the transaction, affects neither
affect accounting profit or taxable profit (tax accounting profit nor taxable profit (tax loss).
loss).
Deferred tax assets are recognized for all A deferred tax asset shall be recognized for all
Temporary differences are deductible to the extent deductible temporary differences to the extent that
that it is probable that taxable profits will be it is probable that taxable profit will be available
available so that temporary differences can be against which the deductible temporary difference
used to reduce profits can be utilized, unless the deferred tax asset arises
unless the deferred tax asset arises from the initial from the initial recognition of an asset or liability
recognition of the asset or the initial recognition of
a liability in a transaction that is not a business in a transaction that is not a business combination
combination and at the time of the transaction it and at the time of the transaction affects neither
does not affect accounting profit or taxable profit accounting profit nor taxable profit (tax loss).
(tax loss).
Deferred tax assets and liabilities are measured Deferred tax assets and liabilities are
using the tax rates that are expected to apply when measured at the tax rates that are expected to
the asset is recovered or the liability is settled, apply to the period when the asset is realized or
based on tax rates (and tax laws) that have been the liability is settled, based on tax rates (and tax
enacted or substantively enacted at the end of the laws) that have been enacted or substantively
reporting period. The measurement of deferred tax enacted by the end of the reporting period. The
assets and liabilities reflects the tax consequences measurement of deferred tax liabilities and deferred
that are consistent with how the Group expects, at tax assets shall reflect the tax consequences that
the end of the reporting period, to recover or settle would follow from the manner in which the Group
the carrying amount of the assets and liabilities.
for expects, at the end of the reporting period, to
recover or settle the carrying amount of its assets
the liability. and liabilities.
37

The carrying amount of deferred tax assets is The carrying amount of a deferred tax asset is
reviewed at the end of the reporting period. The reviewed at the end of each reporting period.
Group reduces the carrying amount of deferred The Group shall reduce the carrying amount of a
tax assets if it is no longer probable that sufficient deferred tax asset to the extent that it is no longer
taxable profit will be available probable that sufficient taxable profit will be
sufficient to compensate part or all of the available to allow the benefit of part or all of that
deferred tax assets. deferred tax asset to be utilized. Any such
Each of these deductions is reversed on the reduction shall be reversed to the extent that it
deferred tax assets up to becomes probable that sufficient taxable profit
it is probable that the available taxable profit will will be available.
be sufficient.
The Group offsets deferred tax assets and The Group offset deferred tax assets and
deferred tax liabilities if and only if: deferred tax liabilities if, and only if:
a) The Group has a legally enforceable right to a) the Group has a legally enforceable right to
mutually set off current tax assets against current tax
write off current tax assets against current liabilities; and
tax liabilities; and
b) deferred tax assets and deferred tax liabilities b) the deferred tax assets and the deferred tax
relate to incometaxation
tax imposed
authority
by the
on:same liabilities relate to income taxes levied by the
same taxation authority on either:
i. the same taxable entity; or ii. a i. the same taxable entity; or

different taxable entity that intends to recover ii. different taxable entities which intend
assets and either to settle current tax liabilities and
current tax liability on a net basis, or assets on a net basis, or to realize the
realizing together,
the asset inand
each
settling
future
in the
which
period
liability
the assets and settle the liabilities
significant amount of asset
the deferred
or liability
taxis
by simultaneously, in each future period in
which significant amounts of deferred
tax liabilities or assets are expected to
be settled or recovered .
expected to be completed or recovered.
The Group offsets current tax assets and current The Group offset current tax assets and current
tax liabilities if, and only if, the Group: tax liabilities if, and only if, the Group:
a) have a legally enforceable right to do each a) has legally enforceable right to set off the
other recognized amounts, and
write off the recognized amount; and
b) intends to settle on a net basis or realize the b) intends either to settle on a net basis, or to
asset and realize the assets and settle liabilities
settle the concurrent liability. by simultaneously.
2.u. Financial Instruments 2.u. Financial Instruments

Initial Recognition and Measurement Initial Recognition and Measurement
The Group recognizes a financial asset or The Group recognizes a financial asset or a
financial liability in the statement of financial financial liability in the statement of financial
position when, and only when, the Group position when, and only when, it becomes a
becomes a party to the contractual provisions of party to the contractual provisions of the
the instrument. On initial recognition of a financial instrument. At initial recognition, the Group
asset or financial liability, the Group measures all financial assets and financial
38

measure at fair value. In the event that a financial liabilities at its fair value. In the case of financial
asset or financial liability is not measured at fair asset or financial liability not at fair value through
value through profit or loss, the fair value is profit or loss, fair value plus or minus with the
increased or reduced by transaction costs that transaction costs that are
are directly attributable to the acquisition or directly attributable to the acquisition or issue of
issuance of the financial asset or financial liability. the financial asset or financial liability.
Transaction costs incurred in connection with Transaction costs incurred on the acquisition of
the acquisition of financial assets and issuance a financial asset and issue of a financial liability
of financial liabilities
throughclassified
profitexpensed
oratloss
fair value
are classified at fair value through profit or loss are
immediately. expense immediately.
The liability component of a compound financial The liability component of a compound financial
instrument is recognized initially at the fair value instrument is recognized initially at the fair value
of a similar liability that does not have an equity of a similar liability that does not have an equity
conversion option. The equity component is conversion option. The equity component is
recognized initially at the difference between the recognized initially as the difference between the
fair value of the compound financial instrument fair value of the compound financial instrument
taken as a whole and the fair value of the liability as a whole and the fair value of the liability
component. Directly attributable transaction component. Any directly attributable transaction
costs are allocated to the liability and equity costs are allocated to the liability and equity
components as appropriate components in proportion to their initial carrying
in proportion to the original carrying amount. amounts.
Further Measurement of Financial Assets Subsequent Measurement of Financial Assets
At initial recognition, financial assets are At initial recognition, financial assets are classified
classified into three categories as follows: in the three categories as follows:
financial assets at amortized cost, financial financial assets at amortized costs, financial
assets at fair value through other comprehensive assets at fair value through other comprehensive
income, financial assets at fair value through income, and financial assets at fair value through
profit or loss. profit or loss.
(i) Financial Assets Measured at Cost (i) Financial Assets Measured at

Amortized Acquisition Amortized Costs
Financial assets can be measured at A financial asset is measured at amortized
amortized cost only if they meet both of the cost only if it meets both of the following
following conditions and are not designated conditions and it is not designated as at
as FVTPL: FVTPL:
(i) Financial assets are managed in a (i) The financial assets is held within a
business model that aims to hold business model whose objective is to
financial assets for the purpose of hold the assets to collect contractual
obtaining contractual cash flows (held cash flows (held to collect); and
to collect); and
(ii) The contractual criteria for a financial (ii) Its contractual terms of the financial assets
asset at a generate
specific date
cashthat
that
flows
are give rise on specified dates to cash flows
that are solely payments of principal and
is the payment of principal and interest interest (SPPI) on the principal amount
alone (SPPI) of the principal amount outstanding.
owed.
39

These financial assets are measured at the amount The financial asset is measured at the amount
recognized at initial recognition reduced by recognized at initial recognition
principal payments, then reduced or increased minus principal repayments, plus or minus the
by the cumulative amortization amount of the cumulative amortization of any
difference between the initial recognition amount difference between that initial amount and the
and the amount at maturity, and maturity amount, and any loss allowance.
its value.
Financial income is calculated by Interest income is calculated using the

method using the effective interest rate and effective interest method and is recognized in
recognized in profit or loss. Changes in fair value profit or loss. Changes in fair value are recognized
are recognized in profit or loss when the asset is in profit and loss when the asset is derecognized
discontinued or reclassified. or reclassified.
Financial assets classified as financial assets Financial assets classified to amortized cost may
are measured at be sold where there is an increase in credit risk.
amortized cost can be sold when there is an Disposals for other reasons are permitted but
increase in credit risk. such sales
Discontinuation for other reasons is permitted should be insignificant in value or infrequent in
but the amount of the sale must be insignificant nature.
or not often.
(ii) Financial Assets Measured at Fair Value (ii) Financial Assets Measured at Fair Value
Through Other (“FVTOCI”)
Comprehensive Income Through Other Comprehensive Income
(“FVTOCI”)
Financial assets are measured at FVTOCI if both The financial assets are measured at FVTOCI if
of the following conditions are met: these conditions are met:
(i) financial assets are managed in a business (i) the financial asset is held within a business
model whose objectives will be met by model whose objective is achieved by both
generating cash flows collecting contractual cash flows and selling
contractual and selling assets the financial
finance; and assets; and
(ii) the contractual terms of the financial asset (ii) the contractual terms of the financial asset
entitle a specified date to cash flows solely give rise on specified dates to
from principal payments cash flows that are solely payments of
principal and interest (“SPPI”) on the principal
and interest (solely payments of principal amount outstanding.
and interest - SPPI) on the principal amount
owed.
These financial assets are measured at fair The financial assets are measured at fair value.
value, wherein gains or losses are recognized in The changes in fair value are recognized initially
other comprehensive income, except for losses in other comprehensive income (OCI), except for
due to impairment and gains or losses due to impairment
changes in exchange rates, are recognized in gains and losses, and a portion of foreign
profit or loss. When the financial asset is exchange gains and losses, are recognized in
derecognized, it is reclassified, or the cumulative profit or loss. When the asset is derecognized or
gain or loss previously
comprehensive
recognized inincome
reclassified
other is reclassified, changes in fair value previously
from recognized in other comprehensive income and
accumulated in equity are reclassified from equity
to profit or loss as a reclassification
40

equity to profit or loss as a reclassification adjustments.

adjustment.
(iii) Financial Assets Measured at Fair Value (iii) Financial Assets Measured at Fair Value
Through Profit and Loss (“FVTPL”) Through Profit or Loss (“FVTPL”)
Financial assets measured at FVTPL are Financial assets measured at FVTPL are those
financial assets that do not meet the criteria to which do not meet both criteria for neither
be measured at amortized cost or to be amortized costs nor FVTOCI.
measured at FVTOCI.
After initial recognition, financial assets After initial recognition, FVTPL financial assets
measured at FVTPL are measured at fair value. are measured at fair value. The changes in fair
Gains or losses arising from changes in the fair value are recognized in profit or loss.
value of financial assets are recognized in profit
or loss.
Financial assets in the form of derivatives and Financial assets in form of derivatives and
investments in equity instruments do not meet investment in equity instruments are not eligible
the criteria to be measured at amortized cost or to meet both criteria for amortized costs or fair
the criteria to be measured at FVTOCI, so are value through other comprehensive income
measured at FVTPL. However, the Company FVTOCI. Hence, these are measured at fair
may make recognition
an irrevocable
of investments
option uponininitial
equity value through profit or loss FVTPL. Nonetheless,
instruments that are not held for trading in the the
near term (held for trading) to be measured at Company may be irrevocably designated an
FVTOCI. investment in an equity instrument which is not
held for trading in any time soon as FVTOCI.
This determination causes all gains or losses This designation result in gains and losses to be
to be presented in other comprehensive income, presented in other comprehensive
except dividend income which is still recognized income, except for dividend income on a
in profit or loss. The cumulative gain or loss qualifying investment which is recognized in
previously recognized in comprehensive other profit or loss. Cumulative gains or losses
profit or loss.
income is reclassified
earnings
to retained
notthrough previously recognized
incomein other
are reclassified
comprehensive
retained
to
earnings, not to profit or loss.
Financial Next Liability Subsequent Measurement of Financial

Measurement Liabilities
The Group classifies all financial liabilities so that The Group shall classify all financial liabilities as
after initial recognition they are measured at subsequently measured at amortized cost, except
amortized cost, except: for:
(a) Financial liabilities at fair value through profit or (a) financial liabilities at fair value through profit or
loss. Such liabilities, including derivatives loss. Such liabilities, including derivatives that
which are liabilities, will then be measured at are liabilities, shall be subsequently measured
at fair value.
fair value.
(b) Financial liabilities arising on the transfer of a (b) financial liabilities that arise when a
financial asset that does not qualify for transfer of a financial asset does not qualify
termination for derecognition or when the
41

recognition or when an ongoing engagement continuing involvement approach applies.

approach is applied.
(c) Financial guarantee contracts and (c) financial guarantee contracts and
commitments to provide loans commitments to provide a loan at a
at below market interest rates. belowmarket
recognition,
ÿ
interest
anrate.
issuer
After
of such
initial a
After initial recognition, the issuer of the contract and an issuer of such a commitment
contract and issuer of the commitment shall
subsequently measures the contract at the then measure it at the higher of:
higher of:
(i) the amount of the allowance for possible losses, and (i) the amount of the loss allowance, and
(ii) the amount initially recognized is (ii) the amount initially recognized less,
reduced by, where appropriate, the when appropriate, the cumulative
cumulative amount of the income amount of income recognized in
recognized in accordance with the accordance with the principles of
principles of PSAK 72. PSAK 72.
(d) Contingent consideration recognized by the (d) contingent consideration recognized by
acquirer in a business combination when an acquirer in a business combination to
PSAK 22 is applied. Contingent which PSAK 22 applies. Such contingent
consideration is then measured at fair consideration shall subsequently be
value and the difference in profit or loss. measured at fair value with changes
recognized in profit or loss.
On initial recognition, the Group may make an The Group may, at initial recognition, irrevocably
irrevocable determination to measure the financial designate a financial liability as measured at fair
liability at fair value through profit or loss, if value through profit or loss when permitted by the
permitted by the standard or if the determination standard or when doing so results in more
would result in more relevant information, because: relevant information,
because either:
(a) eliminate or significantly reduce measurement (a) it eliminates or significantly reduces a
or recognition inconsistencies (sometimes measurement or recognition inconsistency
referred to as “accounting mismatches”) that (sometimes referred to as 'an accounting
may arise from measuring assets or liabilities mismatch') that would otherwise arise from
or recognizing gains and losses on assets measuring assets or liabilities or recognizing
or liabilities on different basis; or the gains and losses on them on different
bases; or
(b) a group of financial liabilities or financial (b) a group of financial liabilities or financial assets
assets and financial liabilities are managed and financial liabilities is managed and its
and their performance evaluated on a fair performance is evaluated on a fair
value basis, in accordance with risk management or value basis, in accordance with a documented
a documented investment strategy, and risk management or investment strategy, and
information on a fair value basis for the group information about the group is provided
is provided internally to personnel internally on that basis to the Group's key
management personnel.
Group key management.
Impairment of Financial Assets Impairment of Financial Assets

Financial assets are assessed for any indication Financial assets are assessed for indicators of
of impairment at the end of each reporting period. impairment at the end of each reporting date.
Financial assets are impaired when there is Financial assets are impaired where there is
objective evidence as a result of one or more objective evidence that, as a result of one or more
events that occurred after the initial recognition events that occurred after the initial recognition of
of the financial asset the financial asset and the estimated future cash
and an estimate of the current flows of the investment
42

future cash flows from the investment that will be have been affected.
affected.
The Group recognizes an allowance for losses The Group recognizes expected credit loss for its
on financial assets which are measured at financial assets measured at amortized cost.
amortized cost.
At each reporting date, the Group measures the At the end of each reporting date, the Group
allowance for losses on financial instruments at calculates any impairment provision in financial
the amount of their
if thelifetime
credit risk
expected
instrument
on thecredit
financial
haslosses instruments based on its lifetime expected credit
increased significantly since recognition. loss if the credit risk of the financial instruments
has increased significantly since its initial
recognition.
beginning.
However, if the credit risk of the financial However, if credit risk has not increased
instrument has not increased significantly since significantly since initial recognition, then a 12
initial recognition, the Company months expected credit loss (stage 1) is
recognizes a number of 12-month expected credit recognized.
losses.
The Group applies a simplified method of The Group applied a simplified approach to
measuring losses measure such expected credit loss for trade
the expected credit to trade receivables and receivables and contract assets without significant
contract assets without a significant financing financing component.
component.
The Group considers a financial asset to be in The Group considers a financial asset to be in
default when a third party is unable to pay default when the counterparty is unlikely to pay
its credit obligations to the Company its credit obligations to the Company in full. The
fully. The maximum period considered when maximum period considered when estimating
estimating expected credit
contract
losses
period
which
is the
during
the
maximum expected credit loss is the maximum contractual
Company period over which the Company is exposed to
credit risk.
exposed to credit risk.
Allowance for losses is recognized as a deduction Impairment losses are recognized as a deduction
from the carrying amount of financial assets in financial assets' carrying amount, except for
except for financial assets measured at FVTOCI financial assets measured at FVTOCI where its
where the allowance for losses is recognized in impairment is recognized in other comprehensive
other comprehensive income. Meanwhile, the income. The expected
amount of therecovery)
expected
is recognized
credit
loss, loss
as an
(or
gain
inimpairment
profit
credit
or loss.
or
loss credit loss (or recovery of credit loss) is recognized
in profit or loss, as gains or losses of financial
asset impairment.
The measurement of the expected credit losses The expected credit loss of financial instruments
of financial instruments is carried out with a are conducted by a means which reflect:
reflecting way:
(i) an unbiased sum and a probability-weighted (i) an unbiased and probability-weighted amount
average determined by evaluating a range that reflects a range of possible outcomes;
of possible outcomes;
(ii) the time value of money; and (ii) time value of money; and
43

(iii) reasonable and supported information that (iii) reasonable and supportable information that
is available without undue cost or effort at is available without undue cost or effort about
the reporting date about past events, current past events, current conditions and forecasts
conditions, and estimates of future economic of future conditions.
conditions.
Financial assets can be considered not Financial assets may be considered to not having
has experienced a significantly increased credit a significant increase in credit risk since initial
risk since initial recognition if the financial asset recognition if the financial assets have a low
has low credit risk at the reporting date. Credit credit risk at the reporting date. Credit risk on
risk on a financial instrument is considered low financial instrument may be considered be low if
when the financial asset has a risk of default there is a low risk of default, the borrower has a
strong capacity to meet its contractual cash flow
low payments, the borrower has a strong obligations in the near term and adverse changes
capacity to meet its contractual cash flow in economic and business
obligations in the near term and deteriorating conditions in the longer term may, but will not
economic and business conditions in the long necessarily, reduce the ability of the borrower to
term may, but not always, fulfill its contractual cash flow obligations. To
determine whether a financial asset has a low
reduce the borrower's ability to meet its credit risk, the Group may use internal credit
contractual cash flow obligations. risk rating or external assessment. For example,
To determine whether a financial asset has a a financial asset with 'investment grade' according
low credit risk, the Group may use an internal to external assessment has a low credit risk
credit risk rating or an external assessment. For rating, thus it does not
example, a financial asset rated “investment experience an increase in significant credit risk
grade” since initial recognition.
based on an external assessment is an
instrument that has a low credit risk, thus
experiencingsince
a significant no
increase in credit risk
initial recognition.
Derecognition of Financial Assets and Derecognition of Financial Assets and

Liabilities Liabilities
Financial Assets Financial assets
The Group derecognizes financial assets when, The Group derecognizes a financial asset, if
and only when, the contractual rights to receive and only if, the contractual rights to the cash
cash flows from the financial assets expire or flows from the financial asset expired or the
the Group transfers the contractual rights to Group transfers the contractual rights to
receive cash from the financial assets or retains receive the cash flows of the financial asset or
the contractual rights to receive cash but also retains the contractual rights to receive the cash
assumes contractual obligations. to pay the cash flows but assumes a contractual obligation to
flows received to one or more beneficiary parties pay the cash flows to one or more recipients in
through an agreement. If the Group transfers an arrangement. If the Group transfers
substantially all the risks and substantially all the risks and benefits
of ownership of the financial assets, the Company
derecognizes the financial assets and recognizes
benefits of ownership of a financial asset, the separately as assets or liabilities any rights and
Group derecognizes the asset obligations created or retained in the transfer. If
financial statements and recognize separately the Group neither transfers nor retains
as an asset or liability any rights and obligations substantially all the risks and benefits of ownership
that have arisen or are retained in the transfer. of the financial asset and has retained control,
the Group continues to recognizes the financial
If the Company substantially does not asset to the extent of
44

transfers and does not retain all the risks and its continuing involvement in the financial asset. If
rewards of ownership of the financial asset and the Group retains substantially all the risks and
retains control, benefits of ownership of the financial assets, the
the Group recognizes a financial asset to the extent Group continues to recognize the financial assets.
of its continuing involvement with the financial
asset. If Group
substantially retains all the risks and rewards of
ownership of the financial asset, the Group
continues to recognize the financial asset
the.
The Group enters into transactions in which it The Group enters into transactions whereby it
transfers assets that are recognized in its statement transfers assets recognized in its statement of
of financial position, but retains all or substantially financial position, but retains either all or substantially
all of the risks and rewards of the transferred all of the risks and rewards of the transferred assets.
assets. In In these cases, the
In this case, the transferred asset is not derecognized. transferred assets are not derecognised.
On derecognition of a financial asset in its entirety, On derecognition of a financial asset in its

the difference between the carrying amount of the entirety, the difference between the assets carrying
asset and the amount of payments and receivables amount and the sum of the
received and the cumulative gain or loss recognized consideration received and receivable and the
in the cumulative gain or loss that had been recognized in
and accumulated inother income
equity are reclassified to profit other comprehensive income and accumulated in
or loss. equity is reclassified to profit or loss.
On derecognition of financial assets On derecognition of a financial asset other than in

against only partone
of the Group its entirety the Group allocated the previous carrying
allocate the previous carrying amount of the amount of the financial asset between the part they
financial asset to the part that continues to be continue to recognize under
recognized on an engagement basis continuing involvement and the part they no longer
sustainable and parts that are no longer recognized recognize on the basis of the relative fair values of
based on the relative fair values of the two parts at those parts on the date of the transfer. The difference
the date of transfer. The difference between the between the carrying amount allocated to the part
carrying amount allocated to the part that is no that is no longer recognized and the sum of the
longer recognized and the amount of consideration received for the part no longer
payments received for the part that is no longer recognized and any cumulative gain or loss allocated
recognized and any cumulative gain or loss to it that had been recognized in other comprehensive
allocated to the part that is no longer recognized income is recognized in profit or loss. A cumulative
that was previously recognized in other gain or loss that had been recognized in other
comprehensive income is recognized in profit or comprehensive income is
loss.
Cumulative gains and losses previously recognized allocated between the part that continues to be
in other comprehensive income are allocated recognized and the part that is no longer recognized
between the part that continues to be recognized on the basis of the relative fair values of those parts.
and the part that is derecognized, based on the
relative fair values of the two parts.
Financial Liability Financial liabilities

The Group derecognizes a financial liability if, and The Group removes a financial liability from its
only if, the liability statement of financial position if, and only if, it
45

such financial statements expire, i.e. when the is extinguished, ie when the obligation specified
obligation specified in the contract is discharged in the contract is discharged or canceled or
or canceled or expires. expired.
Effective Interest Rate The Effective Interest Method

Method The effective interest rate method is the he effective interest method is a method of
method used to calculate the amortized cost of calculating the amortized cost of a financial
a financial asset or liability (or group of assets or asset or a financial liability (or group of financial
liabilities). assets or financial liabilities) and allocating of the
finance) and the method for allocating interest interest income or interest expense over the
income or interest expense over the relevant relevant period. The effective interest rate is the
period. The effective interest rate is the rate that rate that exactly discount estimated future cash
exactly discounts the estimated future cash payments or receipts through the expected life of
payments or receipts over the expected life of the financial instrument or, when appropriate, a
the financial instrument, or, where appropriate, shorter period to the net carrying amount of the
a shorter period to the net carrying amount of financial asset or financial liability. When
the financial asset or financial liability. When calculating the effective interest rate, the Group
calculating the effective interest rate, the Group estimates cash flows considering all contractual
terms of the financial instrument, for example,
prepayment, call and similar option, but shall not
estimate cash with current consider future credit losses. The
considers all contractual terms of the financial calculation includes all fees and points paid or
instrument, such as prepayment, call options received between parties to the contract that are
and other similar options, but does not consider an integral part of the effective interest rate,
future credit losses. This calculation includes all transaction costs, and all other premiums or
commissions and other forms paid or received discounts.
by the parties to the contract which are an
integral part of the effective interest rate,
transaction fees, and all other premiums or
discounts.
Reclassification
Reclassification The Group may reclassify all The Group can reclassify all its financial assets
financial assets if, and only if, there is a change if and only if, a change in the business model.
in the business model.
When the Group reclassifies financial assets, If the Group reclassifies a financial asset, it is
the Company applies the reclassification required to apply the reclassification prospectively
prospectively from the date of reclassification. from the reclassification date.
The Company does not restate any previously Previously recognized gains, losses (including
recognized gains, losses (including impairment impairment gains or losses) or interest are not
gains or losses), or interest. restated.
When the Group reclassifies a financial asset When the Group reclassifies its financial asset
out of the amortized cost measurement category out of the amortized cost into fair value through
into the FVTPL category, its fair value is profit or loss, then its fair value is measured at
measured at the reclassification date. Gains or the reclassification date. Any gains or losses from
losses arising from the difference between the the difference between the previous amortized
previously amortized cost and the fair value of cost and its fair value is recognized in profit or
the financial asset are recognized in profit or loss. Otherwise, if the Group
loss. When reclassifies its financial assets from FVTPL into
46

The Group reclassified on the contrary, from amortized cost, then its fair value at the date of
financial assets in the FVTPL category to the reclassification becomes new gross carrying
amortized cost measurement category, the fair amount.
value at the date of reclassification became the
new gross carrying amount.
When the Group reclassifies a financial asset out When the Group reclassifies its financial assets
of the amortized cost measurement category into out of the amortized cost into fair value through
the FVTOCI category, its fair value is measured other comprehensive income, its fair value is
at measured at the reclassification date. Any gains
reclassification. Gains or losses arising from the or losses from the difference between previous
difference between the previously amortized cost amortized cost and fair value is recognized in
and the fair value of the financial asset are other comprehensive income.
recognized as income in Effective interest rate and expected credit loss
another comprehensive. The effective interest measurement are not adjusted as a result of the
rate and the measurement of expected credit reclassification. Otherwise, when the Group
losses are not adjusted as a result of the reclassification. reclassifies its financial asset out of the fair value
When the Group reclassifies a financial asset through other comprehensive income into
otherwise, i.e. out of the FVTOCI category into amortized cost, the financial asset is reclassified
the amortized cost measurement category, the by its fair value at the
financial asset is reclassified reclassification date. However, any cumulative
at their fair value at the date of reclassification. gains or losses previously recognized in other
However, the cumulative gain or loss previously comprehensive income are committed from equity
recognized in other comprehensive income is and adjusted to the financial asset's fair value at
removed from equity and adjusted to the fair the date of reclassification. Consequently, at the
value of the financial asset on the date of reclassification date, the financial asset is
reclassification. measured the same way as if it were amortized
As a result, at the date of reclassification financial cost. This adjustment affects other
assets are measured as if they were always comprehensive income but not profit or loss, and
measured at cost hence it is not a reclassification adjustment.
amortized acquisition. This adjustment affects Effective interest rate and expected credit loss are
other comprehensive income but does not affect no longer adjusted as a result of the reclassification.
profit or loss, and is therefore not a reclassification
adjustment. Effective interest rate and
measurement of expected credit losses is not

adjusted as a result of the reclassification.
When the Group reclassifies financial assets from When the Group reclassifies its financial assets
the FVTPL measurement category to the FVTOCI out of the fair value through profit or loss into fair
measurement category, the financial assets are value through other comprehensive income, the
still measured at fair value. financial asset is measured at its fair value.
Similarly, when the Group reclassifies a financial Similarly, when the Group reclassifies its financial
asset out of the FVTOCI category into the FVTPL asset out of the fair value through other
measurement category, the financial asset is still comprehensive income into fair value through
measured at fair value. Cumulative gain or loss profit or loss, the financial asset is measured at its
previously recognized in other comprehensive fair value. Any gains or losses
income previously recognized in other comprehensive
reclassified from equity to profit or loss as a income are reclassified out of the equity to profit
reclassification adjustment on the reclassification or loss as a reclassification adjustment at the date
date. of reclassification.
47

Offsetting Financial Assets and Financial Offsetting a Financial Asset and a Financial
Liabilities Liability
Financial assets and financial liabilities are A financial asset and financial liability shall be
written off, if and only if, the Group offset, if and only if, the Group currently has a
currently has a legally enforceable right to set legally enforceable right to set off the recognized
off the recognized amounts; and amount; and intends either to settle on a net
basis, or to realize the asset and settle the liability
intend to settle on a net basis or to realize the simultaneously.
asset and settle the liability simultaneously.
Fair Value Measurement Fair Value Measurement

Fair value is the price that would be received to Fair value is the price that would be received to
sell an asset or the price that sell an asset or paid to transfer a liability in an
will be paid to transfer a liability in an orderly orderly transaction between market participants
transaction between market participants at the measurement date.
on the measurement date.
The fair values of financial assets and liabilities The fair value of financial assets and financial
are estimated for recognition and measurement liabilities must be estimated for recognition and
or
purposes for disclosure for
purposes. measurement or for disclosure purposes.
Fair value is categorized at different levels in a Fair values are categorized into different levels
fair value hierarchy based on whether the input in a fair value hierarchy based on the degree to
to a measurement is observable and significant. which the inputs to the measurement are
observable and the significance of the inputs to
input to the overall fair value measurement: the fair value measurement in its entirety:
(i) The quoted (unadjusted) price in an active (i) Quoted prices (unadjusted) in active markets
market for the asset or liability that for identical assets or liabilities that
identical that can be accessed on the can be accessed at the measurement date
measurement date (Level 1); (Level 1);
(ii) Inputs other than quoted prices included in (ii) Inputs other than quoted prices included in
Level 1 that are observable for the asset or Level 1 that are observable for the assets or
liability, either directly or indirectly (Level 2); liabilities, either directly or indirectly
(Level 2);
(iii) Unobservable inputs for assets or liabilities (iii) Unobservable inputs for the assets or liabilities
(Level 3). (Level 3).
In measuring the fair value of an asset or liability, When measuring the fair value of an asset or a
the Group uses as much as possible observable liability, the Group uses market observable data
market data. If the fair value of an asset or to the extent possible. If the fair value of an asset
liability is not directly observable, the Group or a liability is not directly observable, the Group
by uses valuation techniques that appropriate in the
use assessment techniques that are appropriate circumstances and maximizes the use of relevant
to the situation and maximize observable inputs and minimizes the use of
use of relevant observable inputs and minimize unobservable inputs.
the use of unobservable inputs.
Transfers between levels of the fair value hierarchy are Transfers between levels of the fair value
recognized by the Group at the end of the reporting period hierarchy are recognized by the Group at the
48

where the displacement occurs. end of the reporting period during which the change
occurred.
2.v. Earnings per Share 2.v. Earnings Per Share

Basic earnings per share is calculated by dividing Basic earnings per share is computed by dividing the
the profit or loss attributable to ordinary shareholders profit or loss attributable to ordinary equity holders of
of the parent entity by the weighted average number the parent entity by the weighted average number of
of ordinary shares outstanding in ordinary shares outstanding during the period.
a period.
For the purpose of calculating diluted earnings per For the purpose of calculation of diluted earnings per
share, the Group adjusts profit or loss share, the Group shall adjust profit or loss attributable
attributable to ordinary shareholders of the parent to ordinary equity holders of the parent entity, and
entity and the weighted average number of shares the weighted average number of shares outstanding,
outstanding, for the effect of all potential dilutive for the effect of all dilutive potential ordinary shares.
ordinary shares.
2.w. Treasury Shares 2.w. Treasury Stock

Treasury shares are carried at cost and presented Treasury stock is recorded at its acquisition cost and
as a deduction from share capital in the equity presented as a deduction from capital stock under
section of the consolidated statement of financial equity section of the consolidated statements of
position. The excess of the proceeds from the sale financial position. The excess of proceeds from future
of treasury shares in the future over the acquisition re-sale of treasury stock over the related acquisition
cost or vice versa, will be calculated as an increase cost or vice-versa shall be accounted for as an
or decrease in the additional paid-in capital account. addition or deduction from additional paid-in capital.
2.x. Operating Segments 2.x. Operating Segments

The Group presents operating segments based on Group presented operating segments based on
financial information that is used by operational the financial information used by the chief operating
decision makers in assessing segment performance decision maker in assessing the performance of
and determining the allocation of its resources. segments and in
the allocation of resources. The segments are based
Segmentation is based on the activities of each legal on the activities of each of the operating
entity's operating activities within the Group. legal entities within the Group.
An operating segment is a component of an entity: An operating segment is a component of the entity:
• those engaged in business activities that earn • that engages in business activities from
revenues and incur expenses (including revenues which it may earn revenues and incurred
and expenses related to transactions with expenses (including revenues and expenses
relating to the transactions with other components
other components of the same entity); of the same entity);
• its operating results are regularly reviewed by the • whose operating results are reviewed
chief operating officer to make decisions about regularly by chief operating decision maker
resources to be allocated to the segment and to make decisions about resources to be allocated
assess its performance; and to the segment and assess its performance; and
• available financial information that can be • for which discrete financial information is available.
separated.
49

2.y. Sources of Estimation Uncertainty and Important 2.y. Source of Estimation Uncertainty and Critical
Accounting Judgments Accounting Judgment
Preparation of consolidated financial statements The preparation of the consolidated financial
in accordance with financial accounting standards statements in accordance with the Indonesian
in Indonesia requires management to make financial accounting standards requires the
assumptions and estimates that may affect the management to make assumptions and estimates
carrying amount of certain assets and liabilities at that could affect the carrying amounts of certain
the end of the reporting period. assets and liabilities at the end of the reporting
period.
In the preparation of these consolidated financial In the preparation of these consolidated financial
statements, the accounting assumptions have been statements, accounting assumptions have been
made in the process of applying accounting made in the process of applying accounting policies
policies that have a significant effect on the that may affect the carrying
carrying amount of assets and liabilities in the amounts of assets and liabilities in the consolidated
consolidated financial statements. In addition, financial statements.
there are accounting assumptions regarding In addition, there are accounting assumptions
sources of estimation uncertainty at the end of the about the sources of estimation uncertainty at the
reporting period that could materially affect the end of the reporting period that could materially
carrying amounts of assets and liabilities within affect the carrying amounts of assets and liabilities
the next reporting period. in the subsequent reporting period.
Management periodically reviews these The management periodically reviews them to

assumptions and estimates to ensure that they ensure that the assumptions and estimates have
are based on been made based on all relevant information
all relevant information available at the date on available on the date in which the consolidated
which the financial statements financial statements have been prepared. Because
consolidation is prepared. Because there is there is inherent uncertainty in making estimates,
inherent uncertainty in making estimates, the the value of assets and liabilities to be reported in
values of assets and liabilities that will be reported the future might differ from those estimates.
in the future will differ from those estimates.
i. Sources of Estimation Uncertainty and i. Source of Estimation Uncertainty and Critical

Important Accounting Assumptions Accounting Assumption
At the reporting date, management has made At the reporting date, the management has
important assumptions and estimates that have made significant assumptions and estimates
the most significant impact on the carrying which have the most significant impact to the
amount recognized in the consolidated financial carrying amount recognized in The
statements, which are as follows: consolidated financial statements are as follows:
Allowance for Impairment Losses on Allowance for Impairment Losses of

Receivables Accounts Receivable
The Group assesses impairment of financial The Group assesses their financial assets
assets at amortized cost at each reporting date. measured at amortized cost for impairment at
In determining whether an impairment loss each reporting date. In determining whether an
should be recognized in profit or loss, impairment loss should be recorded in profit or
management should consider reasonable and loss, management makes a judgment as to
supportable information that is available without whether there is reasonable and supportable
undue cost or effort at the reporting date about information that is available without undue cost
past events, or effort about past events, current conditions
and forecasts of future conditions. The Company
50

current conditions, and forecasts of future applies simplified approach using roll rate and
economic conditions. The company adopts a discounted cash flow to measuring trade
simplified approach to measuring expected credit receivables. The carrying amounts of receivables
losses are disclosed in Note 4.
which uses the roll rate and discounted cash flow
to value accounts receivable. The carrying amount
of the receivables has been disclosed in Note 4.
Estimated Deferred Taxes Deferred Tax Estimation

Deferred tax assets are recognized only when it Recognition of deferred tax assets is made only if
is probable that the assets will be recovered in the it is probable that the assets will be recovered in
form of economic benefits to be received in future the form of economic benefits to be received in
periods, where the temporary differences and future periods, in which the temporary differences
accumulated tax losses can still be used. and tax losses can still be used. Management also
Management also considers the estimation of
future taxable income and strategic tax planning in considers the future estimated taxable income and
evaluating its deferred tax assets in accordance strategic tax planning in order to evaluate its
with the prevailing tax regulations and amendments. deferred tax assets in accordance with applicable
As a consequence, related to her innate nature, tax laws and its updates. As a result, related to its
there is inherent nature, it is likely that the calculation of
deferred taxes is related to a complex pattern

where assessment requires a judgment and is not
the possibility that the calculation of deferred tax expected to provide
relates to a complex pattern in which the an accurate calculation. Estimated Deferred tax is
assessment requires judgment and is not expected presented in Note 7.c.
to result in an accurate calculation.
The estimated deferred tax is presented in Note

7.c.
Based on PERPU No. 1 of 2020, there is a change Based on PERPU No. 1 year 2020, there is a
in the income tax rate change in the corporate income tax rate for fiscal
agency for 2020 and 2021 to 22%, and for 2022 years 2020 and 2021 to 22% and
and subsequent fiscal years to 20%. for fiscal the year 2022 and subsequent fiscal years
to 20%.
Estimated Economic Useful Life of Fixed Assets Estimated Useful Lifes of Property and
Equipment
Management conducts periodic reviews of the Management makes a periodic review of the useful
economic useful lives of property, plant and equipment lifes of property and equipment based on several
based on factors such as physical and technical factors such as physical and technical conditions
conditions as well as the future development of and development of medical equipment technology
medical machinery and equipment technology. in the future. The results of future operations will
Future results of operations will be materially be materially influenced by the change in estimate
affected by changes in these estimates resulting as caused by changes in the factors mentioned
from changes in the factors mentioned above. above. Changes in the estimated useful life of
Changes in the estimated useful lives of property, property and equipment, if any, are prospectively
plant and equipment, if any, are treated treated in accordance with PSAK 25 (Revised
prospectively in accordance with PSAK 25 (Revised 2015), “Accounting Policies, Changes in Accounting
2015) “Accounting Policies, Changes in Accounting Estimates and
Estimates
51

and Errors". The carrying amount of property, plant and Errors". Carrying value of property and
equipment is presented in Note 13. equipment is presented in Note 13.
Post-employment Post-employment Benefits

Benefitsvalue
The present
of the defined benefit obligation The present value of post-employment benefits
depends on several factors which are obligation depends on several factors that are
determined on an actuarial basis based on determined on an actuarial basis based on
several assumptions. The assumptions used several assumptions.
to determine the cost (income) include the Assumptions used to determine the cost
discount rate and the rate of salary increase. (income) include the salary increment and
discount rate. Changes in these
Changes in these assumptions will affect the assumptions will affect the carrying amount of
carrying amount of post-employment benefits. post-employment benefits.
The Group determines the appropriate discount The Group determines the appropriate discount
rate at the end of the reporting period, which rate at the end of the reporting period by the
is the interest rate used to determine the interest rate used to determine the present
present value of the estimated future cash value of future cash outflows expected to settle
outflows expected to settle the obligation. an estimated obligation.
In In determining the appropriate level of interest
In determining the appropriate interest rate, rates, the Group considers the interest rate of
the Group considers the interest rates on government bonds denominated in Rupiah that
government bonds which are denominated in has a similar period to the corresponding period
Rupiah and have terms that are similar to the of the obligation.
terms of the related obligations.
Other key assumptions are partly determined Another key assumption is partly determined
based on current market conditions, during by current market conditions during the period
the period in which the post-employment benefit in which the post employment benefits is
obligation is settled.
benefits
Thisassumptions
change in employee
will have resolved. Changes
an impact on the recognition of actuarial gains in the employee benefits assumption will impact
or losses at the end of the reporting year. recognition of actuarial gains or losses at the
end of the reporting period.
Information regarding assumptions and Information about assumption and balance of
amounts of post-employment benefits liabilities post-employment benefits liability and expense
and expenses is disclosed in Note 21. disclose in Note 21.
Fair Value of Financial Instruments Fair Value of Financial Instruments

When the fair value of financial assets and When the fair value of financial assets and
financial liabilities recorded in the statement of position liabilities recorded in the statements of financial
are not available in an active market, they are position is not available in an active
determined using various valuation techniques market, it is determined using valuation the
including the use of mathematical models. including mathematical models. useInput
of techniques
for this
Input (input) for model is derived from observable market data
This model is derived from observable market through the data available. When observable
data as long as the data is available. market data is not available, management
Where observable market data are not judgment is required to determine the fair value.
available, management judgment is required Fair value of financial instruments is presented
to determine fair value. in
The fair value of financial instruments is
presented in Note 35. Note 35.
52

ii. Important Considerations in Determining ii. Important Judgment in the

Accounting Policy Determination of Accounting Policies
The following judgments are made by The following judgment made by management
management in the application of the Group's in the application of accounting policies that
accounting policies that have a significant effect have significant effect on the amount presented
on the amounts presented in the consolidated in the consolidated financial statements:
financial statements:
Revenue Recognition – Energy Services Revenue Recognition – Professional Fee

Expert
January 1, accountancy before Accounting treatment before

2021 treatment January 1, 2021
Billing policies and systems to Policy and billing system to the patient is an
the patient is one unit integration of overall charges consisting of
all costs that consist of consulting consultation with the doctors, use of medicine
doctors, use of drugs and and other medical procedures. On the doctors
other medical procedures. at cost consultation fee, the hospital performs specific
the doctor's consultation, the hospital calculations for each doctor, makes payments
perform certain calculations for net of withholding tax to the doctor, although a
each doctor, do bill to the patient is not fully collected.
payment and withholding tax every Management of the Group considered that there
month to the doctor, even though the bill was no agency relationship between the hospital
to the patient has not been fully billed. and its doctors, with consideration to the impact
Group Management consider of the significant benefits and risks related to
that there is no agency relationship the provision of medical services by the doctors
between hospitals and doctors, with to patients. Bills for medical services are
pay attention to the impact of benefits and risks recognized as revenue when the recognition
significantly related to the provision of services criteria are met.
medical treatment by doctors to patients. Bill
for medical services are recognized as
revenue when recognition criteria
fulfilled.
Accounting treatment after January 1, 2021 Accounting treatment after January 1, 2021
Policies and billing systems for patients consist The policy and system of billings to patient
of doctor consultations, room usage, medicines, consists of doctor consultation, the use of room,
hospital facilities and other medical support. drugs, hospital facility and other medical
supports. Based on agreement with each doctor,
In accordance with the agreement with each the Group provides consultation rooms, and on
doctor, the Group prepares a consultation room the consultation of doctors to patients, the Group
for doctors and for doctor consultations with issues an invoice, allocates doctors' portion on
patients, the Group makes invoices, allocates their fees and distributes to them based on
doctors' share of income and distributes doctor's collections from patients. Based on the
share allocations according to bill receipts from management's assessment with relevant fact
patients. and circumstances, revenues from professional
Based on review fees are recognized and recorded in accordance
management according to the relevant facts with portion of the Group's entitlements.
and conditions, expert fees are recognized and
recorded according to the portion that is due to
the Group.
Changes in accounting treatment in Changes in the accounting approach of revenue

revenue recognition for expert services recognition – professional fee
53

restated as comparative information for the 6 restated as comparative information for

(six) month period ended 30 June 2020 6 (six) months periods ended June 30, 2020
(Note 41).
(Note 41).
54

3. Cash and Cash Equivalents 3. Cash and Cash Equivalents

2021 2020
Rp Rp
Cash 10,099 11.864 Cash on Hand
Bank Cash in Banks
Related Parties (Note 10) Related Party (Note 10)

Rupiah Rupiah
PT Bank Nationalnobu Tbk 152.465 153.314 PT Bank Nationalnobu Tbk
Foreign currency Foreign Currency

USD USD
PT Bank Nationalnobu Tbk 679 1.081 PT Bank Nationalnobu Tbk
Subsum 153,144 154.395 Sub-Total
Third party Third Parties
Rupiah Rupiah
PT Bank Negara Indonesia (Persero) Tbk 299,935 542.117 PT Bank Negara Indonesia (Persero) Tbk
PT Bank Mandiri (Persero) Tbk 49,135 71.124 PT Bank Mandiri (Persero) Tbk
PT Bank Central Asia Tbk 41,849 51.026 PT Bank Central Asia Tbk
PT Bank Rakyat Indonesia (Persero) Tbk 13,811 17,811 PT Bank Rakyat Indonesia (Persero) Tbk
PT Bank CIMB Niaga Tbk 16,060 12,985 PT Bank CIMB Niaga Tbk
PT Sulawesi Regional Development Bank PT Sulawesi Regional Development Bank
South and West Sulawesi 5.170 4.023 South and West Sulawesi
PT Regional Development Bank Regional Development Bank PT
East Java 2,556 1,633 East Java
PT Bank Mayapada International Tbk 7.174 599 PT Bank Mayapada International Tbk
Others (each under IDR 400 million) 9.124 6.070 Others (each below Rp400 million)
Subsum 444,814 707,388 Sub-Total
Foreign currency Foreign Currencies

USD USD
PT Bank Negara Indonesia (Persero) Tbk 13,541 9,720 PT Bank Negara Indonesia (Persero) Tbk
PT Bank ANZ Indonesia 10,294 7,888 PT Bank ANZ Indonesia
PT Bank Mandiri (Persero) Tbk 4.365 4.860 PT Bank Mandiri (Persero) Tbk
EURO EURO
PT Bank ANZ Indonesia 9 125 PT Bank ANZ Indonesia
-- 150
Others (each under Rp100 million) Others (each below Rp100 million)
AUD AUD
PT Bank ANZ Indonesia 5.006 3.586 PT Bank ANZ Indonesia

SGD SGD
PT Bank Maybank Indonesia Tbk 404 399 PT Bank Maybank Indonesia Tbk
PT Bank CIMB Niaga Tbk 289 286 PT Bank CIMB Niaga Tbk
Time deposit Time Deposits

Rupiah Rupiah
PT Bank Mayapada International Tbk 204.771 3,771 PT Bank Mayapada International Tbk
PT Bank Negara Indonesia (Persero) Tbk 2,399 2,399 PT Bank Negara Indonesia (Persero) Tbk
PT Bank CIMB Niaga Tbk 700 700 PT Bank CIMB Niaga Tbk
Amount 849,835 907,531 Total
The contractual interest rates and terms Contractual interest rate and maturity period of
applicable to time deposits are as follows: and time deposits are as follows:
55


2021 2020
Rp Rp
Rupiah Rupiah
Annual Contractual Interest Rate 2.75% - 6.75% 3.15% - 8.25% Annual Contractual Interest Rates
Time period 30 days/ days 30 days/ days Maturity Period
There are no cash and cash equivalents that are There is no cash and cash equivalent pledged as
pledged as collateral and are restricted in use. collateral and restricted.
4. Accounts Receivable 4. Trade Receivables

2021 2020
Rp Rp
Related Parties (Note 10) 3,607 1,489 Related Parties (Note 10)

Company/Corporation 1,713,347 1,161,292 Company/ Corporation
Individual 26,244 23,950 Individual
Credit card 16,894 19,240 Credit card
Others (each under Rp500 million) 9.177 9.922 Others (each below Rp500 million)
Sub quantity 1,765,662 1,214,404 Sub-Total
Less : Allowance for impairment losses (236,468) (117,019) Less: Allowance for impairment losses
Accounts Receivable - Third Party - Net 1,529,194 1,097,385 Net - Trade Receivable - Third Parties
Total - Net 1,532,801 1,098,874 Total - Net
The details of the age of accounts receivable are as follows: The aging of trade receivables are as follows:
following:

2021 2020
Rp Rp
Not yet due 673,447 609,971 Net yet Due

Expired Past Due
Up to 1 month > 1 month - 3 265,749 255,436 Up to 1 month
months > 3 months - 6 months 370,317 174,321 > 1 month - 3 months
> 6 months - 12 months 273,562 90,044 > 3 months - 6 months
143,137 57,832 > 6 months - 12 months
> 12 months 43.057 28,289 > 12 months
Sub Quantity 1,769,269 1,215,893 Sub-Total
Less : Allowance for impairment losses (236,468) (117.019) Less: Allowance for impairment losses
Total - Net 1,532,801 1,098,874 Total - Net
The movement of allowance for impairment losses on The movements in allowance for impairment
receivables is as follows: losses are as follows:

2021 2020
Rp Rp
Beginning balance 117,019 57,099 Beginning Balance
Impact of Early Implementation of PSAK 71
-- 35,616 Impact on Initial Implementation of PSAK 71
Addition 119,449 24,304 Addition
Removal -- -- Write Off
Ending balance 236,468 117,019 Ending Balance
56

Based on management's review of the individual Based on individual basis of management's

trade receivable balances at the end of the evaluation in trade receivables at the end of
reporting year, certain trade receivables were the reporting years, certain trade receivables are
impaired. Management has provided an allowance impaired. Management has reserved allowance for
for impairment losses based on the Group's impairment losses based on the Group's accounting
accounting policies. policies.
Management believes that the allowance for Management believes that the allowance for
impairment losses is adequate to cover possible impairment in value is adequate to cover the
expected credit losses possibility of allowance for expected credit loss.
accounts receivable.
All trade receivable balances are denominated in All trade receivables are denominated in Rupiah.
Rupiah.
5. Other Current Financial Assets 5. Other Current Financial Assets

2021 2020
Rp Rp
Related Parties (Note 10) Related Parties (Note 10)

Rent Receivable 3.079 2.222 Rental Receivables

Rent Receivable 18,249 15,824 Rental Receivables
Claims to Third Parties 12,131 6.068 Claims to third parties
Restricted Funds 3,432 3.371 Restricted Fund
Receivables employee 1.409 2,235 Employee loan
-- 12,600
Time deposit Time Deposit
Etc 7.143 7.279 Others
Amount 45,443 49,600 Total
Lease receivables represent receivables for renting Rental receivables represent receivables related
land in hospital buildings in various locations to the leased area in the hospital buildings at
Group in Indonesia. various locations of the Group in Indonesia.
Receivables from TBS amounting to Rp5,000 have Receivable from TBS amounted to Rp5,000 has a
a term of 2 years until 2021 and are not subject to term of 2 years until 2021 and non-interest bearing.
interest. Shares of PT Gamma Knife Center PT Gamma Knife Center Indonesia (GKCI), a
Indonesia (GKCI), a subsidiary, which is owned by subsidiary, shares owned by TBS are pledged as
TBS are pledged for this receivable with a value of collateral for these receivables with the value of
USD 5,882 per share as collateral. the pledged shares per share of USD5,882.
Claims to third parties represent receivables related Claim to third parties represent receivable related
to expenses incurred in advance by the Group and to advance payment of expenses by
can be collected from third parties, such as the Group that can be charged back to the third
receivables from insurance, repair costs of rented parties, for example receivable to insurance
buildings that can be compensated for by building company, repair expenses in rented building which
owners, construction costs and other expenses can be reimbursed to the building owner, other
incurred in advance. construction costs and other expenditure payment
in advance.
57

The funds are used restricted

as bank guarantees in Restricted fund representative bank guarantee
Rupiah, placed with PT Bank BNP Paribas in Rupiah, placed in PT Bank BNP Paribas
Indonesia, which are restricted in their use for Indonesia, and restricted for payment of rental
payment of building leases for PT East Jakarta building in PT East Jakarta Medika, PT Lintas
Medika, PT Lintas Buana Jaya, PT Taruna Buana Jaya, PT Taruna Perkasa Megah, and PT
Perkasa Megah, and PT Bina Bahtera Sejati, Bina Bahtera Sejati, subsidiaries, and will be due
subsidiaries, and will mature in October - in October - December 2021.
December 2021.
As of June 30, 2021 and December 31, 2020, the As of June 30, 2021 and December 31, 2020.
Group did not provide an allowance for impairment The Group did not provide allowance for
of receivables because management believes impairment losses on the receivables because
that all receivables are collectible. management believes that all receivables are
collectible.
6. Stock 6. Inventories

2021 2020
Rp Rp
Medical Supplies 156.854 140,467 Medical Supplies

Drugs 112,781 118.093 Medicines
Other 2,395 2,358 Others

Amount 272.030 260,918 Total
On 30 June 2021 and 31 December 2020, On June 30, 2021 and December 31, 2020, all
All inventories were insured against all forms of inventories have been insured againts all forms
risk, amounting to Rp 247,398 and Rp 193,601, of risk, amounting to Rp 247.398 and
respectively. Rp193,601, respectively. Management believes
Management believes that the insurance coverage that insurance coverage is adequate to cover
is adequate to cover possible losses from risks possible losses to the Group.
that may be experienced
Group.
Amount of inventories recognized as an expense The amount of inventories charged to cost of

principal revenue for the 6 (Six) month period revenue for the 6 (six) months periods ended
ended June 30, 2021 and June 30, 2021 and 2020 amounted to
2020 each amounting to Rp1,118,608 Rp1,118,608 and Rp777,409 respectively
and Rp.777,409 (Note 29). (Note 29).
Management is of the opinion that there is no The management believes that there is no
indication that indication of impairment of inventory as of June
2021 and December
inventory
31, 2020.
value as of June 30, 30, 2021 and December 31, 2020.
58

7. Taxation 7. Taxes
a. Tax debt a. Taxes Payable

2021 2020
Rp Rp
Income tax Income Tax
Article 4(2) 3.496 1.382 Articles 4 (2)
Article 21 20,407 19,580 Article 21
Article 25 Article 25
Child entity 9.566 1,596 Subsidiaries
Article 29 Article 29
Company 56,090 37,638 The Company
Child entity 58.385 42,690 Subsidiaries
value-added tax 2.257 6.618 Value Added Tax
Amount 150,201 109,504 Total
b. Tax Burden (Benefit) b. Taxes Expenses (Benefits)
6 months/ months
2021 2020
Company/ Child entity/ Consolidation/ Company/ Child entity/ Consolidation/
The Company Subsidiaries Consolidated The Company Subsidiaries Consolidated
Rp Rp Rp Rp Rp Rp
Current Tax Burden 77,848 95,976 173,824 37,457 17,281 54,738 Current Tax Expenses
Deferred Tax Expenses (Benefits) (7,365) 336 (7,029) (997) (1,295) (2,292) Deferred Tax Expense (Benefit)
Total Tax Expense-Net 70.483 96,312 166,795 36,460 15,986 52,446 Total Tax Expense-Net
Current Tax Current Tax

The calculation of the Company's current tax The calculation of estimated current tax expense and
expense and income tax payable is as follows: corporate income tax payable of the Company are as
follows:
6 months/ months
2021 2020
Rp Rp
Profit (Loss) Before Tax According to the Statement of Profit (Loss) Before Tax as Reported in the Consolidated
Comprehensive Income and Income Statements of Profit or Loss and
Other Consolidation 468,890 (76,926) Other Comprehensive Income
Less : Profit before Tax of Subsidiaries (226,970) 128,052 Less: Profit before Tax of Subsidiaries
Profit Before Tax - Company 241,920 51.126 Profit Before Tax of the Company
Time difference: Timing Differences:

Employee Benefits 32,053 7.715 Employee Benefits
Allowance for Impairment Losses 119,449 9.952 Allowance for Impairment Losses
Depreciation and Amortization 9,244 2.112 Depreciation and Amortization
Payment of Rent Financing (7,820) (5,298) Payment of Finance Leases Bond
152,926 14,481
59

6 months/ months
2021 2020
Rp Rp
Fixed Difference: Permanent Differences:
Marketing 12,401 9,246 Marketing
Donations and Meals 10,528 6.168 Entertainment and Donations
Salary and Employee Welfare 6,119 6.378 Salary and Allowances Employees
Tax expense 176 577 Tax Expenses
Taxable Income
which is final (10,765) (7,061) Income already Subjected to Final Tax
Taxable Interest Income
which is final (1.480) (2,970) Interest Income already Subjected to Final Tax
Impact of the Implementation of PSAK 73 111 29,407 Impact in Implementation of PSAK 73
Accrual and others (58,080) 62,909 Accrual and others
(40,990) 104,654
Estimated Taxable Profit 353,856 170,261 Estimated Taxable Income
Estimated Current Tax - Company 77.848 37,457 Estimated Current Taxes - the Company
Less: Prepaid Income Tax: Less: Prepayments of income
Article 25 (21.758) (28,258) Tax Article 25
Underpaying Income Tax - Company 56,090 9,199 Corporate Income Tax Payable - the Company
The company has submitted the 2020 Annual The Company has reported its Annual Tax
Tax Return (SPT) Return (SPT) 2020 to the tax office.
to the Tax Service Office.
The calculation of the current tax burden will Calculation of estimated current tax will
be used as the basis for submitting the 2021 become the basis on reported its Annual Tax
Annual Tax Return (SPT) Return (SPT) 2021 to the tax office.
Tax office.
Reconciliation of profit before tax expense The reconciliation between profit before tax as
according to the consolidated statements of presented in the consolidated statements of
income and other comprehensive income profit or loss and other comprehensive income
with consolidated tax expense are as follows: with the total consolidated tax
expense is as follows:
6 months/ months
2021 2020
Rp Rp
Profit (Loss) Before Tax According to Profit (Loss) before Tax as Presented in Consolidated
Statement of Income and Comprehensive Income Statements of Profit or Loss
Other Consolidation 468,890 (76,926) and Other Comprehensive Income
Less : Profit (Loss) Before Tax Subsidiaries (226,970) 128,052 Less: Profit (Loss) Before Tax of Subsidiaries
Profit Before Tax - Company 241,920 51,126 Profit before Tax of the Company
22% Tax Rate Current Prevailing Tax Rate

Applicable for 2021 and 2020 53.222 11.246 22% for 2021 and 2020
Marketing 2,728 2.034 Marketing
Donations and Meals 2,316 1.357 Entertainment and Donations
Salary and Employee Welfare 1.346 1,403 Salary and Allowances Employees
Tax expense 39 127 Tax Expenses
Final Taxable Income
(2,368) (1,553) Income already Subjected to Final Tax
Taxable Interest Income
which is final (326) (653) Interest Income already Subjected to Final Tax
Impact of the Implementation of PSAK 73 24 6.470 Impact in Implementation of PSAK 73
Accrual and others (12,778) 13,840 Accrual and others
44,203 34,271
His Unrecoverable Allowance - Impairment of Unrealized
Allowance for Impairment Losses 26,279 2.189 Allowance for Impairment Losses
Total Company Tax Expense 70.482 36,460 Total Tax Expenses of the Company
Current Tax Expense - Subsidiary 95,976 17.281 Current Tax Expenses - Subsidiaries
Deferred Tax Benefit - Subsidiary 336 (1,295) Deferred Tax Benefit - Subsidiaries
Total Consolidated Tax Expense - Net 166,794 52,446 Total Consolidated Tax Expenses - Net
60

c. Deferred Tax c. Deferred Tax
31 December/ (Charged) (Charged) June 30/

December 31, 2020 Credited Credited June 30, 2021
on Profit and Loss on Earnings
Consolidated/Other comprehensive/
(charged) (charged)
Credited to Credited to
Consolidated Other
Profit or Loss Comprehensive
Income
Deferred tax assets Rp Rp Rp Rp Deferred Tax Assets

Company The Company
39,157 7.052 -- 46,209
Employee Benefits Employee Benefits
(29,019) 2,034 -- (26,985)
Depreciation and Amortization Depreciation and Amortization
66,222 26,279 -- 92,501
Allowance for Impairment Losses Allowance for Impairment Losses
(12,567) (1,720) -- (14,287) Finance Lease
Lease Financing
(53.289) (26,279) --
Allowance for Impairment Losses (79,568) Allowance for Impairment Losses
10,504 7,366 -- 17,870
Child entity 14,600 (7.262) -- 7.338 Subsidiaries

25.104 104 -- 25,208 Total Deferred Tax Assets
Total Deferred Tax Assets
Deferred Tax Liabilities - Deferred Tax Liabilities -

Child entity (52,857) 6.925 -- (45,932) Subsidiaries
31 December/ (Charged) (Charged) 31 December/

December 31, 2019 Credited Credited December 31, 2020
on Profit and Loss on Earnings
Consolidated/Other comprehensive/
(charged) (charged)
Credited to Credited to
Consolidated Other
Profit or Loss Comprehensive
Income
Deferred tax assets Rp Rp Rp Rp Deferred Tax Assets

Company The Company
Employee Benefits 38,624 (1,580) 2.113 39.157 Employee Benefits
(22,826) (6,193) -- (29,019)
Depreciation and Amortization Depreciation and Amortization
60,875 5,347 -- 66,222
Allowance for Impairment Losses Allowance for Impairment Losses
(8,028) (4,539) -- (12,567) Finance Lease
Lease Financing
(47,942) (5,347) --
Allowance for Impairment Losses (53.289) Allowance for Impairment Losses
20,703 (12,312) 2.113 10,504
Child entity 20.593 (6,673) 680 14,600 Subsidiaries

Total Deferred Tax Assets 41,296 (18,985) 2,793 25.104 Total Deferred Tax Assets
Deferred Tax Liabilities - Deferred Tax Liabilities -

Child entity (59,491) 6,914 (279) (52,857) Subsidiaries
Management believes that the deferred tax Management believes that the deferred tax assets
assets can be recovered through taxable profit can be recovered through taxable income in the
in the future. futures.
d. Tax Assessment Letter (SKP) d. Tax Assessment Letter (SKP)

On January 10, 2020, PT East Jakarta Medika On January 10, 2020, PT East Jakarta Medika
(EJM), a subsidiary, received a letter (EJM), a subsidiary, received an Underpayment
Underpayment Tax Assessment (SKPKB) on Tax Assessment Letter (SKPKB) on the results of
the results of the examination of PPh 4 the PPh 4 paragraph (2), 21, 23 and VAT for fiscal
paragraph (2), 21, 23 and VAT for the 2015 year 2015 totaling Rp2, 574. EJM has paid the
fiscal year with a total of Rp. 2,574. EJM has entire tax expense in 2020.
paid the entire tax burden in 2020.
61

e. Changes in Tax Rates In e. Tax Rates Changes

2020, the Government issued Government In 2020, the Indonesian Government issued a
Regulation in Lieu of Law Number 1 of 2020 Government Regulation in Lieu of Law No. 1 Year
(“Perpu No.1 2020”) regarding state financial 2020 (“Perpu No.1 2020”) related to the
policies and financial system stability to deal Government's financial policy and financial system
with the 2019 Coronavirus disease ("COVID19") stability to cope with the Coronavirus disease
pandemic. ("COVID-19") pandemic. Through this regulation,
the Government issued some new policies which,
Through regulations, the Government
this, has among others, related to the change in the
decided several new policies and one of them corporate income tax rate for domestic taxpayers
is related to the adjustment of income tax rates permanent establishments as follows:
and
for domestic corporate taxpayers and
permanent establishments as follows:
an income tax rate of 22% applicable in the corporate income tax rate of 22% effective for 2020
2020 and 2021 fiscal years, and and 2021 fiscal years, and
income tax rate of 20% effective in fiscal year corporate income tax rate of 20% effective for 2022
2022. fiscal year.
8. Prepaid Expenses 8. Prepaid Expenses

2021 2020
Rp Rp
Scholarship 86,229 78.976 Scholarship
Insurance 14,405 11,500 Insurance
Software and Fixed Assets Software and Fixed Assets
Maintenance 5.862 6.709 Maintenance
Rent 3,453 817 Rental
Legal and Licensing 2,133 1,741 Permit and License
Amount 113.627 104,768 Total
Prepaid scholarships are scholarships given to Prepaid scholarship represent scholarship given
employees and prospective employees that are to employees and employee candidates which
charged during the education period. will be charged to expense along
education period.
Short-term prepaid rent Prepaid rent short-term mainly related to

mainly represents leases on land and buildings the lease of the land and building of Siloam
for Siloam hospitals in various regions. hospitals in many areas.
Long-term prepaid rent represents rent for Long term prepaid rental expense is rental of
Siloam Bogor hospital building to PT Girimulia Siloam Bogor hospital building to PT
Perkasa
Girimulia
Jaya
Perkasa Jaya for 16 years until 2033 and land for period of 16 years up to 2033 and land rental
lease by PT Selaras Medika Kusuma, a of PT Selaras Medika Kusuma, a subsidiary, up
subsidiary, until 2041. to 2041.
62

Starting January 1, 2020, in connection with Effective January 1 2020, in relation to the
application of PSAK 73: “Lease”, rental expense application of PSAK 73: “Leases”, long term
long-term prepaid presented prepaid rental expense was presented as right
as right-of-use assets as part of property, plant of-use assets as part of property and equipment
and equipment (Note 13). (Note 13).
9. Advances 9. Advances

2021 2020
Rp Rp
Fixed Asset Purchase 481,097 436,862 Purchase of Property and Equipment

Inventory Purchase 14,406 18,541 Purchase of Inventory
Construction 1988 132 Construction
Professional Service -- 2,939 Professional Fees
Etc 8,213 7.396 Others
Amount 505.704 465,870 Total
Advances for purchase of property and equipment Advances for purchase of property and
mainly consist of advances for purchase of equipment mainly represents advance for
medical equipment, land and buildings for Siloam purchase of medical equipment, land and
Hospital. building for Siloam Hospitals.
Advances for construction represent advances in Advances for construction represent payment to
connection with construction and suppliers related to the hospitals construction
hospital property renovation. and renovation.
10. Transactions with Related Parties 10. Transactions with Related Parties
The Group, in the normal course of business, In its normal business transactions, the Group
conducts transactions with related parties with conducts business transactions with related
the following details: parties as follows:
Percentage
to Total Assets/
Percentage to Total Assets
June 30/ 31 December/ June 30/ 31 December/
June 30, December 31, June 30, December 31,
2021 2020 2021 2020
Rp Rp % %
Cash and cash equivalents Cash and Cash Equivalent

PT Bank Nationalnobu Tbk 153,144 154.395 1.75 1.83 PT Bank Nationalnobu Tbk
Accounts receivable Trade Receivables

Etc 3,607 1,489 0.04 0.02 Others
Other receivables Other Receivables

Etc 3.079 2.222 0.04 0.03 Others
63

Percentage to
Total Liabilities/
Percentage to
Total Liabilities
June 30/ 31 December/ June 30/ 31 December/
June 30, December 31, June 30, December 31,

2021 2020 2021 % 2020
Rp Rp %
Accounts payable Trade Payable

PT Sunshine Food International 1.317 1.062 0.05 0.04 PT Sunshine Food International
Etc 929 560 0.04 0.02 Others
Amount 2,247 1,622 0.09 0.07 Total
Lease Liability Lease Liabilities

PT Graha Pilar Sejahtera 136,037 146,685 5.17 6.09 PT Graha Pilar Sejahtera
PT Lippo Karawaci Tbk 134,757 333 5.12 0.01 PT Lippo Karawaci Tbk
PT Grahaputra Mandirikharisma 7,258 8,026 0.28 0.33 PT Grahaputra Mandirikharisma
PT Yogya Central Terpadu 2,201 77,539 0.08 3.22 PT Yogya Central Terpadu
PT Prima Labuan Bajo 1,787 49,350 0.07 2.05 PT Prima Labuan Bajo
PT Buton Bangun Cipta 1,484 42,375 0.06 1.76 PT Buton Bangun Cipta
Amount 283.525 324,308 10.77 13.46 Total
Percentage to
Total Operating Expenses/
Percentage to
Total Operating Expenses
June 30/ June 30/ June 30/ June 30/
June 30, June 30, June 30, June 30,
2021 2020 2021 2020
Rp Rp Rp Rp
Income Revenue
Etc 6.654 2,500 0.58 0.28 Others
Operating expenses Operating Expenses

PT Lippo Karawaci Tbk 131,901 72,678 11.46 8.03 PT Lippo Karawaci Tbk
PT Sunshine Food International 23,726 34,187 2.06 3.78 PT Sunshine Food International
PT Graha Pilar Sejahtera 22,041 22,108 1.92 2.44 PT Graha Pilar Sejahtera
PT Multipolar Technology Tbk 3.923 21,930 0.34 2.42 PT Multipolar Technology Tbk
PT Yogya Central Terpadu 1,814 7.539 0.16 0.83 PT Yogya Central Terpadu
PT Prima Labuan Bajo 1,621 4.917 0.14 0.54 PT Prima Labuan Bajo
PT Buton Bangun Cipta 1.484 4.117 0.13 0.45 PT Buton Bangun Cipta
PT Sandiego Hills Memorial Park 690 2,998 0.06 0.33 PT Sandiego Hills Memorial Park
PT Grahaputra Mandirikharisma 609 613 0.05 0.07 PT Grahaputra Mandirikharisma
Etc 226 10.050 0.02 1.11 Others
Amount 188.034 181.137 4.86 10.87 Total
Key Management Employee Benefits - Employee Benefits for Key Management

Short Term Employee Benefits Short-Term Post-Employment Benefits
Directors and Commissioners 12,351 7.566 1.07 0.84 Directors and Board of Commissioners
All transaction balances with related parties The entire balance of the related parties
is a transaction in Rupiah currency. transactions are denominated in Rupiah.
The relationship and nature of account balances/ The relationship and nature of accounts/
transactions with related parties are as follows: transactions with related parties are as follows:
64

Related Parties Connection Nature of Account Balance/ Transaction

Related Parties Relationship Nature of Accounts/ Transactions
PT Bank Nationalnobu Tbk Under the Same Control/ Banks and Time Deposits/
Entity Under Common Control Cash in Bank and Time Deposit
PT Lippo Karawaci Tbk (PT LK) Main Parent Entity/ Advances, rental expenses, and finance lease payables/
Ultimate Parent Entity Advances, rental expense, and finance lease obligation
PT Sunshine Food International Subsidiary PT LK/ Accounts payable and patient meals/
Subsidiary of PT LK Trade payable and patient meal
PT Sandiego Hills Memorial Park Subsidiary PT LK/ Operating expenses/
Subsidiary of PT LK Operating expenses
PT Graha Pilar Sejahtera Associated Entity PT LK/ Rental expenses/

Associate of PT LK Rental expense
PT Yogya Central Terpadu Associated Entity PT LK/ Rental expenses/

PT Prima Labuan Bajo Associated Entity PT LK/ Rental expenses/

PT Buton Bangun Cipta Associated Entity PT LK/ Rental expenses/

PT Multipolar Technology Tbk Under the Same Control/ IT related services/

Entity Under Common Control IT Contract Service
PT Grahaputra Mandirikharisma Under the Same Control/ Rental expenses/
Entity Under Common Control Rental expense
Directors and Commissioners Key Management/ Employee Benefits/
Key of Management Employee Benefits
All transactions with related parties have been All related parties transactions are disclosed in
disclosed in the consolidated financial statements. the consolidated financial statements.
11. Other Non-Current Assets 11. Other Non-Current Assets

2021 2020
Rp Rp
Other Receivables Long-Term 109,957 109,957 Long-term Other Receivable

Amount 117.893 118,095 Total
Other long-term receivables represent receivables Long-term other receivable represent receivable
from PT Bangun Karya Semesta (BKS). from PT Bangun Karya Semesta (BKS).
Receivables from BKS amounting to Rp109,957 Receivable from BKS amounted to Rp109,957
have a tenor of 10 years until 2029 and interest at has a term of 10 years until 2029 and interest
7% per annum. 7% per annum.
Other assets mainly represent security deposits Other assets mainly represent security deposit
for utilities (rent, electricity, communications and for utilities (rent, electricity, communication
water) and other investments. and water) and other investments.
12. Investment in Associates 12. Investment in Associate
June 30/ June 30, 2021

domicile/ Percentage Cost of Acquisition/Accumulation of Parts Addition Carrying Value/
Domicile Ownership/ Acquisition Cost Net Profit/ Investation/ Carrying Value
Percentage of Accumulated Additional of
Ownership Share in Investment
Profit - Net
% Rp Rp Rp Rp
PT Citra Sehat Tulungagung (CST) Tulungagung 49.98% 280 (24) 11,044 11,300
65

On July 19 2018, PT Mahkota Buana Selaras On July 19, 2018, PT Mahkota Buana Selaras
(MBS), a subsidiary, acquired shares of CST (MBS), a subsidiary acquired share ownership
worth IDR 280. In 2020, non-trade receivables of CST amounting to Rp280. In 2020, non-trade
from CST amounting to Rp11,044 were converted receivable to CST totaling Rp11,044 was
into stock investments, bringing the total converted to investment in shares, thus total
investment to Rp11,324 investment was Rp11,324, or 49.98% of
or with an ownership percentage of 49.98%. ownership.
Here is a brief summary of financial information The following is a summary of financial

associates for the year ended June 30, 2021: information on associate for the year ended
ended June 30, 2021:
June 30/
June 30 , 2021
Total Current Assets Total Aggregate of Current Assets

Amount of Non-Current Assets 11 11.897 Total Aggregate of Non-Current Assets
Total Short-Term Liabilities 2 Total Aggregate of Current Liabilities
Total Long-Term Liabilities -- Total Aggregate of Non-Current Liabilities
Amount of Aggregated Net Income for the Period -- Total Aggregate of Net Revenues for the Period
Amount of Aggregated Profit After Tax for the Current Period -- Total Aggregate of Profit After Tax for the Period
Total Comprehensive Income Total Aggregate of Comprehensive Income
The current period -- for the Period
There is no information available based on There was no fair value information available
quoted published prices on the fair value of based on quoted market prices of the above
investments in these associations. investments in associates.
13. Fixed Assets 13. Property and Equipment

June 30/ June 30 , 2021
Beginning balance/ adjustment/ Addition/ Subtraction/ Reclassification/ Ending balance/
Beginning Adjustment Addition Disposal Reclassification ending
Balance Balance
Rp Rp Rp Rp Rp Rp
Acquisition Cost Acquisition Cost

Direct Ownership Direct Ownership
Soil 512,235 -- -- -- -- 512,235 Land
2,330,836 -- 21.308 7 42,392 2,394,529
Building, Infrastructure and Renovation Building, Infrastructure and Renovations
2,855,601 -- 52,198 12,744 21,847 2,916,902
Medical Supplies and Equipment Medical Supplies and Equipment
Office Equipment and Furniture 986,434 -- 18,234 1,735 5,339 1,008,272 Furniture, Fixtures and Office Equipment
Vehicle 32,454 -- 213 486 -- 32.181 Vehicles
6,717,560 -- 91,953 14,972 69,578 6,864.119
Lease Financing Under Finance Lease

Medical Equipment 290.536 -- 814 -- -- 291.350 Medical Equipment
844,857 -- 159,663 -- -- 1.004.520
Building Building
Assets in Development Construction in Progress

980,991 -- 84.145 -- 995,558
Direct ownership (69,578) Direct Ownership
186 -- -- -- 186 Under Finance Lease
Lease Financing
Total Earnings 8,834,130 -- 336.575 14,972 -- 9,155,733 Total Acquisition Cost
Accumulated depreciation Accumulated Depreciation

563,985 -- 86,802 -- 650,780
2,182,245 -- 119,197 7 2,785 -- 2,298,657
Office Equipment and Furniture 753,049 -- 48,033 1,504 799,578 Furniture, Fixtures and Office Equipment
Vehicle 27,439 -- 987 483 -- 27,943 Vehicles
Amount of Accumulated Depreciation Total Accumulated Depreciation

3,526,718 -- 255,019 4.779 -- 3,776,958

Medical Equipment 131,269 -- 21,708 -- -- 152,977 Medical Equipment
238,036 -- 185,640 -- -- 423,676
Building Building
3,896.023 -- 462,367 4.779 -- 4,353,611
58.028 -- -- -- -- 58,028
Impairment of Fixed Assets Impairment
Carrying Value 4,880.079 4,744,094 Carrying Amount
66

December 31/ December 31 , 2020
Impact of Implementation
Beginning balance/ Addition/ Subtraction/ Reclassification/ Ending balance/
Beginning of PSAK 73/
Beginning Impact on Initial Addition Disposal Reclassification ending

Balance ÿÿ Balance
of PSAK 73
Rp Rp Rp Rp Rp Rp

Soil 512,235 -- -- -- -- 512,235 Land
1,949,743 -- 442,791 285 2,330,836
Building, Infrastructure and Renovation (61,413) Building, Infrastructure and Renovations
2,706,159 -- 56,256 5,688 98,874 2,855,601
Office Equipment and Furniture 905,640 -- 35,964 1,898 46,728 986,434 Furniture, Fixtures and Office Equipment
Vehicle 32,196 -- 779 994 473 32,454 Vehicles
6,105,973 -- 535,790 8.865 84662 6,717,560

Medical Equipment 236,775 -- 45 -- 53,716 290.536 Medical Equipment
-- 653.501 191.356 -- -- 844,857
Building Building
Assets in Development Construction in Progress

1,011,877 -- 106.204 -- 980.991
Direct ownership (137,090) Direct Ownership
1,452 -- -- -- 186 Under Finance Lease
Lease Financing (1,266)
Total Earnings 7,356,077 653.501 833,395 8.865 22 8834.130 Total Acquisition Cost
Accumulated depreciation Accumulated Depreciation

418,684 -- 145.507 206 -- 563,985
1,940,607 -- 247.505 4.746 2,182,245
Medical Supplies and Equipment (1.121) Medical Supplies and Equipment
Office Equipment and Furniture 655,936 -- 98,928 1,815 -- 753.049 Furniture, Fixtures and Office Equipment
Vehicle 26,132 -- 2,301 994 -- 27,439 Vehicles
3,041,359 -- 494,241 7,761 3,526,718
Direct Ownership (1.121) Direct Ownership

Medical Equipment 86,294 -- 44,749 917 1.143 131,269 Medical Equipment
-- -- 238,036 -- -- 238,036
Building Building
3,127,653 -- 777,026 8,678 22 3,896.023
58,028 -- -- -- -- 58.028
Impairment of Fixed Assets Impairment
Carrying Value 4,170,396 4,880.079 Carrying Amount
As of June 30, 2021, the addition of right-of-use As of June 30, 2021, addition of right of use
assets of Rp160,477 came from lease liabilities asset amounted to Rp160.477, arising from
(Note 37). lease liabilities (Note 37).
Construction in progress represents hospital Construction in progress representing hospitals

buildings and machinery, as well as project equipment. building and machinery, and project equipment.
As of June 30, 2021, construction in progress has As of June 30, 2021, construction in reached
reached 20% - 98% and projected completion progress 20% - 98% and
completion estimated
withinhas the2023.
2021 until
ranges from 2021 to 2023. Management believes Management believes that there is no other
matter which will hinder the completion.
there is nothing that makes the solution unattainable.
Depreciation expense for property, plant and equipment is Depreciation charges that were allocated in
allocated to the consolidated statements of profit or loss The consolidated statements of profit or loss
and other comprehensive income as follows: and other comprehensive income are as follows:
6 months/ months
2021 2020
Rp Rp
Cost of Revenue (Note 29) 111.897 128,211 Cost of Revenue (Note 29)
Operating Expenses (Note 30) 350,470 241,644 Operating Expenses (Note 30)
Amount 462,367 369,855 Total
In June 30, 2021, Certain fixed assets On June 30, 2021, Certain property and
used as collateral for loans obtained by the equipment is pledged as security for loan
Company (Note 18). obtained by the Company (Note 18).
The disposal of the Group's property and equipment is The disposal of the Group's property and
as follows: equipment are as follows:
67

6 months/ months
2021 2020
Rp Rp
Acquisition Cost 14,972 7.151 Acquisition Cost

Accumulated depreciation (4,779) (7.048) Accumulated Depreciation
Carrying Value 10,193 103 Carrying Value
Selling price 11,548 5 Selling Price
Loss on Disposal of
Loss on Disposal of Fixed Assets 1.355 (98) Property and Equipment
The Group's property, plant and equipment are insured The Group's property and equipment
against fire and other risks, with a total sum insured of are insured for fire and other risks
Rp7,340,445 and Rp6,676,725 as of June 30, 2021 and with the total sum insured amounted to
December 31, 2020. Management believes that the Rp7,340,445 and Rp6,676,725 as of June
insurance coverage is adequate to cover possible risks. 30, 2021 and December 31, 2020,
losses for the risks that may be experienced. respectively. Management believes that insurance
coverages are adequate to cover
possible losses arising from such risk.
The carrying amounts of several of the Company's The carrying amount of some subsidiaries has been
subsidiaries have been reduced to recoverable amounts reduced to its recoverable amount through
through the recognition of impairment losses on property, recognition of an impairment loss against property
plant and equipment. This loss has been reported in the and equipment. This loss has been included in the
income statement as part of “other expenses”. profit or loss as part of “other expenses”.
Management believes that there is no The management believes that there is no

indication of changes in circumstances that cause an impairment in the carrying amount of property and
impairment in the carrying amount of property, plant and equipment of US
equipment as of June 30, 2021. June 30, 2021.
As of June 30, 2021 and 2020, the addition of the Group's As of June 30, 2021 and 2020, the addition of the
property, plant and equipment from the reclassification of Group's property and equipment, from
advances for purchase of property, plant and equipment amounted to the reclassification of advances for purchase
Rp27,446 and Rp14,047 (Note 37). of property and equipment amounted to
Rp27,446 and Rp14,047, respectively
(Note 37).
14. Goodwill and Intangible Assets 14. Goodwill and Intangible Assets
a. Goodwill a. Goodwill
June 30/ June 30 , 2021

Beginning balance/ Addition/ Subtraction/ Ending balance/
Beginning Balance Addition Deduction Ending Balance
Rp Rp Rp Rp

Goodwill 411.119 -- -- 411.119 Goodwill
Accumulated Impairment Accumulated Impairment

Impairment of Goodwill 7.143 -- -- 7.143 Impairment of Goodwill
Carrying Value 403.976 403.976 Carrying Amount
68

December 31/ December 31, 2020

Beginning balance/ Addition/ Subtraction/ Ending balance/
Rp Rp Rp Rp

Goodwill 411.119 -- -- 411.119 Goodwill
Accumulated Impairment Accumulated Impairment

Impairment of Goodwill 7.143 -- -- 7.143 Impairment of Goodwill
Carrying Value 403.976 403.976 Carrying Amount
Details of the carrying amount of goodwill in The details goodwill ofof US

June 30, 2021 and December 31, 2020 are as June 30, 2021 and December 31, 2020 are as follows:
follows:
Acquirer Entity/ Acquisition of Shares in/ Year Net Value

Acquirer Share Acquisition in Acquisition/ June 30/ 31 December/
year of June 30, December 31,
Acquisition 2021 2020
Rp Rp
Company/ The Company PT Prawira Tata Semesta 2011 14,146 14,146

PT Guchi Kencana Emas 2011 3,540 3,540
PT Prawira Tata Semesta PT Balikpapan Damai Husada 2011 27,481 27,481
PT Pancawarna Semesta PT Diagram Healthcare Indonesia 2012 9.251 9.251
PT Corridor Usaha Forward PT Medika Sarana Traliansia 2013 132007 132007
PT Trisaka Raksa Waluya 2010 75 75
PT Tunggal Pilar Perkasa PT Rashal Siar Cakra Medika 2014 101.777 101.777
PT Lishar Sentosa Pratama 2017 22,518 22,518
PT Mahkota Buana Selaras PT Grha Ultima Medika 2017 61,937 61,937
PT Sumber Bahagia Sentosa 2017 25,430 25,430
PT Sumber Bahagia Sentosa 2017 278 278

PT Prima Mugi Jaya PT Gamma Knife Center Indonesia 2019 5.536 5.536
Total/ Total 403.976 403.976
b. Intangible Assets b. Intangible Assets
June 30/ June 30, 2021

Beginning balance/ Extra reduction/ Ending balance/
Rp Rp Rp Rp

Software 272,391 17,447 -- 289,838 Software
Lease Financing Under Capital lease

Software 894 -- -- 894 Software
273.285 17,447 -- 290.732

Total Cost of Acquisition Total Acquisition Cost
Accumulated Amortization Accumulated Amortization

Software Amortization 170.950 12,217 -- 183.167 Amortization of Software

668 85 -- 753 Amortization of Software
Software Amortization
Amount of Accumulated Amortization 171.618 12.302 -- 183.920 Total Accumulated Amortization

Carrying Value 101,667 106.812 Carrying Amount
69


Beginning balance/ Extra reduction/ Ending balance/
Rp Rp Rp Rp

Software 160,571 60,568 (51.252) 272,391 Software

Software 894 -- -- 894 Software
Total Cost of Acquisition 161.465 60,568 (51.252) 273.285 Total Acquisition Cost
Accumulated Amortization Accumulated Amortization

Software Amortization 90,071 29,627 (51.252) 170.950 Amortization of Software

Software Amortization 492 176 -- 668 Amortization of Software
Amount of Accumulated Amortization 90,563 29,803 (51.252) 171.618 Total Accumulated Amortization
Carrying Value 70,902 101,667 Carrying Amount
All software amortization expenses are included in other All of amortization of software expense is recorded as
expenses in the consolidated statements of profit or part of other expenses in
loss and other comprehensive income. consolidated statements of profit or loss and other
comprehensive income.
Based on the impairment test that Based on the impairment tests, the
has been carried out, management is of the opinion management believes that the impairment on
the allowance for impairment of goodwill goodwill is adequate to cover the possibility of
enough to cover possible losses impairment in value that incurred as of
impairment that occurred on the date June 30, 2021 and December 31, 2020.
June 30, 2021 and December 31, 2020.
15. Accounts Payable 15. Trade Payable

2021 2020
Rp Rp
Related Parties (Note 10) 2,247 1,622 Related Parties (Note 10)
Supplier 180,593 130,027 Suppliers
Doctor services 247,419 198,398 Professional Doctor Fee
Subsum - Third Party 428,012 328,425 Subtotals - Third Parties
Amount 430,259 330,047 Total
Payables to suppliers mainly consist of the Group's Payables to suppliers mainly represent the Group's
debts to distributors or manufacturers of drugs and payables to distributors and manufacturers of medicine
medical equipment with details and medical supplies as follows:
as follows:
70


2021 2020
Rp Rp
PT Anugerah Pharmindo Lestari 30,944 21,295 PT Anugerah Pharmindo Lestari

PT Anugrah Argon Medica 16,943 14,613 PT Anugrah Argon Medica
PT Enseval Putera Megatrading 12,682 12,002 PT Enseval Putera Megatrading
PT Parit Padang Global 8054 4,886 PT Parit Padang Global
PT Dos Ni Roha 3,877 4.441 PT Dos Ni Roha
PT Merapi Utama Pharma 3,872 3,985 PT Merapi Utama Pharma
PT Mensa Bina Sukses 4,104 3,597 PT Mensa Bina Sukses
PT Antar Mitra Sembada 3,045 2,764 PT Antar Mitra Sembada
PT Millennium Pharmacon International Tbk 2,130 1,931 PT Millennium Pharmacon International Tbk
PT Kebayoran Farma 2,543 1,604 PT Kebayoran Farma
PT Sunshine Food International 1,317 1,062 PT Sunshine Food International
PT Tempo Scan Pacific Tbk 3,176 3,230 PT Tempo Scan Pacific Tbk
PT Kimia Farma (Persero) Tbk 1,237 935 PT Kimia Farma (Persero) Tbk
PT Binasan Prima 1,681 1750 PT Binasan Prima
Others (each under Rp1 billion) 87,235 53,554 Others (each below Rp1 billion)
Amount 182.840 131,649 Total
All trade payables to suppliers and doctors' All of the trade payables to suppliers and
services are less than 1 year old professional doctor fees have less than 1 year
and denominated in Rupiah. aging and denominated in Rupiah.
There is no guarantee given by the Group for the There is no collateral given by the Group on
acquisition of this debt. these payables.
16. Other Short-Term Financial Liabilities 16. Other Current Financial Liabilities

2021 2020
Rp Rp
Contractor's Debt and Acquisition of Fixed Assets 3,599 54,220 Payable on Purchase of Land and Building
Deposited Debt 58,800 56,248 Deposits
Rent Payable 11,572 15,901 Rent Payable
Accounts Payable for Acquired Shares of Subsidiaries 6,120 6.120 Payable on Acquisition of Subsidiaries Shares
Payables to Shareholders of Subsidiaries 1,595 1,595 Payable to the Shareholder of Subsidiary
Etc 12,963 11,903 Others
Rent payable mainly represents rent on land and Rent payable mainly related to the lease of the land
buildings of Siloam hospitals in various regions. and building of Siloam Hospitals in many
areas.
Contractor payables represent payables for the Contractors payable represent payable of
construction and renovation of hospitals and clinics construction and renovation in the Group's hospitals
owned by the Group. and clinics.
Deposits payable are advances that Deposits represent advances receipt from third
received from third parties for contributions parties for their contribution as sponsor on hospital's
as a sponsor at events held by the hospital. event.
Payables for the purchase of shares of subsidiaries Payable on purchasing of shares of subsidiaries
represent payables for the acquisition of hospitals represent acquisition hospitals of
71

PT Lishar Sentosa Pratama (LSP), PT Sumber PT Lishar Sentosa Pratama (LSP),

Bahagia Sentosa (SBS) and PT Anugrah Sentra PT Sumber Bahagia Sentosa (SBS) and PT
Medika (ASM) to Anugrah Sentra Medika (ASM) to the
old shareholders. previous shareholders.
17. Accrued Expenses 17. Accrued Expenses

2021 2020
Rp Rp
Cost of Revenue 536,929 495,894 Cost of Revenue

Salary and Employee Welfare 168,432 225.559 Salary and Employees Benefits
Contract Service 125,390 95.864 Contract Service
Electricity and Water 32,434 24,901 Water and Electricity
Professional Service 30,399 26,268 Professional Fee
Repair and Maintenance 23,501 17,479 Repair and Maintenance
Marketing 22,513 23.004 Marketing
Other Office Fees 14,733 11.028 Other Office Supplies
Legal and Licensing 13,461 9,694 Permit and License
Insurance 8034 6,707 Insurance
Training and development 7.809 2,915 Training and Seminars
Rent 3,677 11,029 Rent
Etc 10,221 7.758 Others
Amount 997,533 958,100 Total
Accrued expenses for cost of revenue represent Accrued cost of goods sold representing accrued
accrued expenses for the cost of hospital on unbilled hospitals cost of goods sold. This
revenues that have not yet been billed. This account will be reclassified to the appropriate
account will account after the invoice is issued.
reclassified to the appropriate account after the
invoice is issued.
18. Bank Loans 18. Bank Loans

2021 2020
Short Term Bank Loans Short-Term Bank Loan
PT Bank CIMB Niaga Tbk 100,000 --
PT Bank CIMB Niaga Tbk
Short Term Part 100,000 -- Short-Term Portion
Long-Term Bank Debt Long-Term Bank Loans

PT Bank KEB Hana Indonesia 12,590 14,720 PT Bank KEB Hana Indonesia
Less: Current Part (4,627) (4,380) Less: Current Portion
Long Term Part 7,963 10,340 Long-Term Portion
PT Bank KEB Hana Indonesia PT Bank KEB Hana Indonesia

Based on the Deed of Credit Agreement No. 56 Based on Dead of Credit Agreement No.56
dated October 8, 2019 drawn up before dated October 8, 2019 made in the presence of
Hannywati Gunawan, SH, Notary in Jakarta, the Hannywati Gunawan, SH, a Notary in Jakarta,
Company obtained the following loan facilities: the Company obtained credit facilities as follows:
72

June 30/June 30 , 2021 and

December 31/December 31, 2020
Loan Type Investment Loan Facility Type

Ceiling IDR 50,000 Ceiling
Interest Rate 11% Interest Rate
Time period December 2023/ December 2023 Period
The intended use Medical Equipment Financing/ Purpose
Refinancing Medical Equipment
Guarantee Medical Equipment owned by the Company with a maximum Collateral
value of Rp 60,000 (Note 13)/
List of the Company's medical equipment with the highest value
of Rp 60,000 (Note 13).
As of June 30, 2021 and December 31, 2020, As of June 30, 2021 and December 31, 2020,
the outstanding balance of this facility amounted the outstanding balance of the facilities above
to Rp12,590 and Rp14,720, respectively. are amounted to Rp12,590 and Rp14,720,
respectively.
PT Bank CIMB Niaga Tbk PT Bank CIMB Niaga Tbk

Based on Deed of Credit Agreement No.33 Based on Dead of Credit Agreement No.33
dated February 16, 2021 which was made before dated February 16, 2021 made in the presence
Veronica Nataadmadja, SH, of Veronica Nataadmadja, SH, a Notary in
Notary in Jakarta, the Company obtained the Jakarta, the Company obtained credit facilities
following loan facilities: as follows:
June 30/June 30 , 2021
a. Type of Loan Special Transaction Loan Facility Facility Type

Ceiling Interest IDR 50,000 Ceiling
Rate Term 8% Interest Rate
Purpose of Use May 2022/ May 2022 Period
of Collateral Working Capital/ Woking Capital Purpose
List of receivables belonging to the Company except BPJS with a Collateral
maximum value of Rp 50,000 (Note 4)/
List of the Company's receivables exclude BPJS with the highest
value of Rp 50,000 (Note 4).
b Type of Loan Fixed Loan Facility Facility Type

Ceiling IDR 200,000 Ceiling
Interest Rate 8% Interest Rate
Time period May 2022/ May 2022 Period
The intended use Working Capital/ Woking Capital Purpose
Guarantee 1 (three) parcels of land with a total area of 3,554 m2 with Collateral
Building Use Rights (SHGB) No. 1139/Duren Sawit, registered under
the name of RSCM, a subsidiary;
4 (three) parcels of land with a total area of 9,476 m2 Building Use
Rights (SHGB) No. 5237, 5240, 5236, 4440/Sepanjang Jaya,
registered under the name of ASM, a subsidiary (Note 13) /
1 (one) plots of land with an area of 3,554 sqm with Right of Building
Use (SHGB) No. 1139/ Duren Sawit which are registered under
the name of GFA, a subsidiary (Note 13);
4 (four) plots of land with an area of 9,476 sqm and building with
Right of Building Use (SHGB) No. 5237, 5240, 5236 and 4440/
Sepanjang Jaya which are registered under the name of ASM, a
subsidiary
(Note 13).
73

19. Lease Liability 19. Lease Liabilities

2021 2020
Rp Rp
Lease Liability 465.084 451.552 Lease Liability

Medical Equipment Medical Equipment
PT Century Tokyo Leasing Indonesia ("CTLI") 91,225 104,737 PT Century Tokyo Leasing Indonesia ("CTLI")
PT Mitsubishi UFJ & Leasing Indonesia ("MUFG") 24,781 33,782 PT Mitsubishi UFJ & Leasing Indonesia ("MUFG")
Amount 581,090 590,071 Total

Less short term part (203,742) (98,556) Less short term period
Long Term Part 377,348 491.515 Long Term Portion
Lease Liabilities arise in relation to the rental of hospital Lease Liabilities Raised related to Hospital
buildings. Building rentals.
The minimum future lease payments under the finance The future minimum lease payments based on lease
lease agreement are as follows: agreements is as follows:

2021 2020
Rp Rp
Gross lease liability - minimum lease Gross lease liabilities -
payments minimum lease payments:

- No more than 1 year 207.393 86,171 No later than 1 year -
- More than 1 year 346,878 516,723 More than 1 year -
Amount 554270 602,894 Total
Less: Interest Share 26,820 (12,823) Less: Interest Portion
Financing Lease Payable - Net 581.090 590,071 Finance Leases Bonds - Net
Financing Lease Payable - Maturity in One Finance Leases Bonds -

Year 203.742 98,556 Current Maturities
Finance Lease Payable - After Finance Leases Bonds -

Less Maturity in One Year 377,348 491.515 Net of Current Maturities
In accordance with PSAK 73, for properties that are rented In accordance with PSAK 73, for properties where the rent
fully variable based on a percentage of the previous is fully variable based on a percentage of prior year
period's revenue, lease commitments and associated revenue, the lease commitment and related depreciation
depreciation expense are recognized over one year. If the expense is only recognized over one year. Where the rental
lease is fixed or if there is a fixed and variable component is fixed, or where there is a variable and fixed component
in the lease, the fixed lease component of the lease of rental, then the fixed component of the lease liability is
obligation is recognized over the full commitment period. recognized over the full commitment period of the lease.
Below are described the types of lease agreements that
fall into the two categories of each within the Group.
Below is a breakdown on the type of rental
lease agreements falling into these two respective
categories within the Group.
Lease commitment
(Number of hospital units/ No. of hospitals unit )
1-5 Years/Years 5-10 Years/Years 10-15 Years/Years
Fully variable based on the Fully variable based on
- 1 14
previous period's income percentage percentage of prior year revenue
Higher variable based on percentage of Higher of variable based on
previous period's income or base rental percentage of prior year revenue or
price 4 1 1 base rent
74

Lease liabilities to related parties as of June 30, Lease liabilities to related party as of June 30,
2021 and December 31, 2020 amounted to 2021 and December 31, 2020 are
Rp283,525 and Rp324,308, respectively. amounted to Rp283,525 and Rp324,308,
(Note 10). respectively (Note 10).
Interest expense on the lease liability as of June Interest expenses as of June 30, 2021 amounting
30, 2021 amounted to Rp15,652. to Rp15,652.
20. Deferred Profit on Transaction 20. Deferred Gain on Sale and Leaseback
Sell and Rent Back Transactions

2021 2020
Rp Rp
Net Deferred Profit on Transaction Net Deferred Gain on Sale and Leaseback
Sell and Rent Back - Net Beginning of Period -- 71.319 Transactions - Net Beginning Period
minus: Less:
--
Adjustment on the Impact of the Application of PSAK 73 (71,319) Adjustment on Implementation of PSAK 73
Amount -- -- Total
-- -- Current Portion
Short Term Part
-- -- Non-Current Portion
Long Term Part
Deferred gain on sale and leaseback transactions Deferred gain on sale and leaseback
is amortized over 15 years using the straight-line transactions is amortized over estimated useful
method. life of the assets of 15 years of leases period
using the straight-line method.
21. Long-term Employee Benefits Liability 21. Long-Term Employment Benefits Liabilities
Post-employment Benefits – Unfunded Post-employment benefits – Unfunded

Defined Benefit Program Defined Benefit Plan
The Group appoints an independent actuary for The Group appointed independent actuaries to
determine the post-employment benefit liability determine and recognize post-employment
in accordance with labor regulations liability in accordance with the existing manpower
applicable. The Group's post-employment benefit regulations. Post-employment benefit liabilities of
liabilities as of December 31, 2020 are recorded the Group as of
based on the Actuarial Report of the Actuarial December 31, 2020 was recorded based on the
Consulting Office Herman Budi Purwanto whose actuary report of Herman Budi Purwanto Actuary
report is dated February 18, 2021. Consultant Firm with report dated
February 18, 2021.
Management believes that the estimate of Management believes that the estimates of post-
the post-employment benefits are adequate employment benefits are sufficient to cover such
to cover the said obligation. liabilities.
Post-employment benefit liabilities recognized in The post-employment benefits liability in

the consolidated statement of financial position The consolidated statements of financial position
is as follows: are as follows:
75

31 December/
December 31,
2020
Rp
Present Value of Liabilities Present Value of Defined Benefit
Year-End Fixed Rewards 175,070 Bond End of Year
Fair Value of Program Assets (1,845) Plan Asset
Amount 173.225 Total
Program assets are managed by the Manulife Plan assets are managed by the Financial
Indonesia Financial Institution Pension Fund Institution Pension Fund (DPLK) Manulife
(DPLK). Indonesia.
The details of post-employment benefits expense The details of post-employment benefit expense
recognized in
profit
the or
consolidated
loss andare
income other
statements
as comprehensive
follows:of recognized in The consolidated
statements of profit or loss and other comprehensive
income are as follows:
31 December/
December 31,
2020
Rp
Current Service Expense 24,350 Current Service Cost

Interest expense 5.101 Interest Expenses
Amount 29,451 Total
The reconciliation of changes in liabilities Reconciliations of changes in liabilities

recognizedfinancial
in the consolidated
position is as
statement
follows: of recognized in The consolidated statements of
financial position are as follows:
31 December/
December 31,
2020
Rp
Beginning balance 160,382 Beginning Balance Liabilities
Reward Payment (28,032) Payment of Employees' Benefits
Company Fee --
Company's Contribution
Other Comprehensive Income (OCI) Other Comprehensive Income (OCI)
Customization of Experience 14,830 Experience Adjustment
Changes in Financial Assumptions (3,444) Change in Financial Assumption
Actuarial Losses (Gains) on Program Assets 38 Loss (Gain) Actuarial on Asset Program
--
Liability Adjustment Liabilities Adjustment
Benefit Expense Post-employment Benefits
Employees in the Current Year 29,451 Expense During the Year
Ending balance 173.225 Ending Balance Liabilities
The reconciliation of changes in post-employment Reconciliations of changes post-employement

benefit liabilities is as follows: liability are as follows:
76

31 December/
December 31,
2020
Rp
Net Liabilities at the beginning of the period 160,382 Net Liability on Beginning Period
Current Service Fee 24,350 Current Service Cost
Interest Fee 5.101 Interest Expenses
Liability Adjustment Liabilities Adjustment
Realization of Employee Benefits (28,032) Payment Realization of Employees' Benefits
Company Fee --
Company's Contribution
Net Liability Net Expected
What to Expect by the End of the Year 161,801 Liabilities End of Year
Net Liability Net

End of Year Actual 173.225 Liabilities End of Year
Other Comprehensive Income (OCI) (11,424) Other Comprehensive Income (OCI)
Movements from other comprehensive income Movements in consolidated other

consolidation as follows: comprehensive income are as follow:
31 December/
December 31,
2020
Rp
Beginning balance (9,534) Beginning Balance

Other Comprehensive Income for the Year (11,424) Other Comprehensive Income Current Year
Ending balance (20,958) Ending Balance
Significant actuarial assumptions for the actuarial

Significant for the assumptions
determination of the defined
determination of the defined benefit obligation are obligation are discount rate and expected salary
the discount rate and salary increase that increase.
expected.
Discount Rate 7.00% Discount Rates

Salary Increase Projected Rate 7.00% Salary Increase Projection Rate
Mortality Rate TMI-2011 Mortality Rate
Permanent Disability Rate 10% of TMI 2011 Permanent Disability Rate
Resignation Rate 8.5% Until the Age of 25 Years Resignation Rate
And Declines Linearly Up To
0% At 55 Years Old/
8.5% Until 25 years old
and decreased linearly to
0% at the age of 55 years
The defined benefit pension plan provides The defined benefit pension plan typically exposes
the Group's exposure to interest rate risk and salary the Group to interest rate risk and salary risk.
risk.
Interest Rate Risk The Interest Rate Risk

present value of the defined benefit is calculated by The present value of the defined benefit is calculated
using government bond interest rates. Therefore, using interest rates of government
lowering the bond interest rate will increase the bonds. Therefore, a decrease in bond interest rates
program liability. would increase the liability program.
Salary Risk Salary Risk

The present value of the defined benefit obligation The present value of the defined benefit plan liability
is calculated by reference to future salaries is calculated by reference to the future
77

program participants. Thus, an increase in the salary of salaries of plan participants. as such,
program participants will increase the liability of the an increase in the salary of the plan participants will
program. increase the plan's ability.
The sensitivity of the analysis below is determined The sensitivity analysis below has been determined
based on each change in assumptions
at the thatwith
may
end of the reporting occur
period,
all other based on reasonably possible
assumptions held constant. changes of the respective assumptions occuring at the
end of the reporting period, while holding all other
assumptions constant.
A 1% increase in the discount rate assumed on 1% increase in the assumed discount rate
December 31, 2020, will result in a decrease in current on December 31, 2020, will result in a decrease in
service costs current service cost to Rp2,505
employees amounting to Rp2,505 and reducing the and a decrease in actual present value of liabilities
present value of the liability by Rp17,603. amounted to Rp17,603.
A 1% decrease in the discount rate assumed on A decrease of 1% in the discount rate assumed on
December 31, 2020, will result in an increase in current December 31, 2020, will result in an increase in current
service costs service cost to Rp3,041 and an increase in present value
amounting to Rp3,041 and increasing the present value of liabilities
of the liability by Rp21,131. amounted to Rp21,131.
22. Share Capital 22. Capital Stock
The composition of the Company's shareholding in The compositions of the Company's

June 30, 2021 and December 31, 2020 are stockholders as of June 30, 2021 and
as follows : December 31, 2020 are as follows:
June 30/ June 30, 2021

Amount Percentage Placed and
Shareholders/ Shares/ Ownership/ fully paid/
Stockholders Total Percentage of Issued and
Shares Ownership Fully Paid
(%) Rp
PT Megapratama Karya Persada 761,771,685 46.86 76,177
Prime Health Company Limited 425,698,429 26.18 42,570
PT Gloria Mulia 57,060,112 3.51 5.706
PT Patchouli Blue Shine 49,612,500 3.05 4.961
PT Safira Prima Utama PT 30,306,653 1.86 3.031
Maharama Sakti Caroline 1,125,000 0.07 113
Riady* Anang Prayudi* 853,700 0.05 85
Ryanto Marino Tedjomulja* 166,600 0.01 17
dr. Grace F Indradjaja* Monica 166,600 0.01 17
Surjapranata* Mona Kartikasari 166,600 0.01 17
Jonathan* 166,600 0.01 17
124,600 0.01 12
John Riady* 90,390 0.01 9
Phua Meng Kuan* 42,500 0.00 4
Public/ Public
( each less than 5%) 288,413,656 17.74 28,840
Total shares outstanding/ Total shares outstanding 1,615,765,625 99.38 161.576
Treasury Shares 10,000,000 0.62 1,000
Number of issued and fully paid shares/

Number of shares issued and fully paid 1,625,765.625 100 162,576
*) Key Management
78


Amount Percentage Placed and
Shareholders/ Shares/ Ownership/ fully paid/
Stockholders Total Percentage of Issued and
Shares Ownership Fully Paid
(%) Rp
PT Megapratama Karya Persada 761,771,685 46.86 76,177
Prime Health Company Limited 425,698,429 26.18 42,570
PT Gloria Mulia 57.060.112 3.51 5.706
PT Patchouli Blue Shine 49,612,500 3.05 4.961
PT Safira Prima Utama 30,306,653 1.86 3.031
PT Maharama Sakti 1,125,000 0.07 113
Caroline Riady* 379,800 0.02 38
Anang Prayudi* 166,600 0.01 17
Ryanto Marino Tedjomulja* dr. 166,600 0.01 17
Grace F Indradjaja* Monica 166,600 0.01 17
Surjapranata* John Riady* 166,600 0.01 17
Phua Meng Kuan* Public/ Public 93,390 0.01 9
42,500 0.00 4
( each less than 5%) 289,009,156 17.78 28,899

Total shares outstanding/ Total shares outstanding 1,615,765.625 99.38 161.576
Treasury Shares 10,000,000 0.62 1,000
Number of issued and fully paid shares/

Number of shares issued and fully paid 1,625,765.625 100 162,576
*) Key Management
Based on the Deed of the General Meeting of Shareholders Based on the Deed of Extraordinary General
Extraordinary Stock No. 17 dated December 9, Meeting of Shareholders No. 17 dated 9
2019 made before Sriwi Bawana Nawaksari, December 2019 made before Sriwi Bawana
SH, M.Kn, Notary in Tangerang Regency, the Nawaksari, SH, M.Kn, Notary in Tangerang
shareholders approved the plan to buy back the District, the shareholders agreed on the plan to
Company's shares as much as 1% of the issued buyback the Company's shares at a maximum
and paid-up capital in the Company or a of 1% of the issued and paid-up capital of the
maximum of 16,257 .600 shares for the Company or up to 16,257,600 shares in the
implementation of the MESOP program. framework of implementing the MESOP
program.
Earning Period/ No. Report Letter to Bapepam/ Number of shares/ Acquisition cost/
Acquired Period No. Register Letter to Bapepam Total Shares Acquisition Cost
(Sheets/Shares ) (Rp)
2020
003/Corsec-SIH/I/2021 dated January 13/
Dated January 13, 2021 10,000,000 50,034
23. Additional Paid-in Capital – Net 23. Additional Paid-in Capital – Net
Details of additional paid-in capital - net on Details of additional paid-in capital - net as of
June 30, 2021 and December 31, 2020 are as June 30, 2021 and December 31, 2020 are as
follows: follows:
79

Rp
Agio Shares - Net 5,641,373 Paid-in Capital Excess of Par - Net

Difference in Transaction Change Value Difference in Value from Change in Equity
Subsidiary's Equity (11,729) Transactions from Subsidiaries
Difference in Transaction Value with Difference in Value from Transactions between
Entities under Common Control - Net (20,723) Entities Under Common Control - Net
Amount 5,608,921 Total
Share Premium Paid-in Capital Excess of Par

Details of share premium on June 30, 2021 and The details Paid-in capital excess of par as of
December 31, 2020 are as follows: June 30, 2021 and December 31, 2020 are as
follows:
Rp
Initial Public Offering Initial Public Offering
Share Premium 1,389,290 Paid-in Capital Excess of Par
Share Issuance Fee (76,567) Share Issue Costs
Limited Public Offering I Limited Public Offering I
Limited Public Offering II Limited Public Offering II
Total - Net 5,641,373 Total - Net
Difference in Value Changes in Equity Transactions Difference in Value from Change in Equity
Child entity Transactions of Subsidiaries
The difference in the value of changes in the entity's equity transactions Difference in value from change in equity
child at 30 2021 and June transactions subsidiaries
of as of
follows:
Rp
PT Aritasindo Permaisemesta 5.398 PT Aritasindo Permaisemesta
PT Nusa Medika Perkasa 1,476 PT Nusa Medika Perkasa
PT Siloam Graha Utama (18,603) PT Siloam Graha Utama
Amount (11,729) Total
Changes in equity transactions of subsidiaries are The change in equity transactions of

obtained from the excess of the acquisition cost over subsidiaries from the excess of
the net asset value. acquisition costs over the net assets value.
Difference in Transaction Value with the Entity Difference in Value from Transactions
Common Control – Neto between Entities Under Common Control –
Net
The difference in transaction value with the entity Difference in value from transactions between entities
under common control - net on 30 June 2021 and under common control - net as of
follows:
80

June 30/ June 30, 2021 and/ and December 31/ December 31, 2020
Asset Value Price Score difference
Clean/ Acquisition/ Transactions with
Net Assets Transaction Entities Under Common Control - Net/
Value Value Difference in Value
from Transaction
between Entities
Under Common
Control - Net
Rp Rp Rp
Transfer of Net Assets Value /Transfer of Net Assets :
Hospital Division PT Lippo Karawaci Tbk/
PT Lippo Karawaci Tbk's Hospital Division 80,547 85,000 (4,453)
PT Wisma Jatim Propertindo 17,519 17,629 110
PT Maharama Sakti 5,840 5,877 37
Transfer of Share Ownership/
Transfer of Share Ownership
PT Siloam Dinamika Perkasa 244 250 6
PT Siloam Tata Prima 244 250 6
PT Multiselaras Anugerah (958) 600 (1,558)
PT Persada Kencana Mandiri (1,427) 399 (1,826)
PT Aritasindo Permaisemesta (3,492) 12 (3,504)
PT Eramulia Pratama Jaya 7,125 14,281 (7,156)
PT Serasi Adikarsa 2,375 4.760 (2,385)
Amount 108,017 129,058 (20,723)
The difference in the value of transactions with entities Difference in value from restructuring transactions
under common control results from the transfer of assets between entities under common
net hospital division of PT Lippo Karawaci Tbk to control From the transfer of net assets of Hospital
the Company and transfer of share ownership. Division from PT Lippo Karawaci Tbk to the
Company and transfer of share ownership.
24. Difference in Non- with Party 24. Difference in Value from Non-
Controlling Transactions Controlling Interest
Difference in transactions with non-controlling Difference in value from non-controlling interest

parties as of June 30, 2021 and December 31, 2020 as of June 30, 2021 and December 31, 2020 are
is as follows: as follows:
Acquirer Entity/ Acquisition of Shares in/ Year June 30/ 31 December/
Acquirer Share Acquisition in Acquisition/ June 30, December 31,

year of 2021 2020
Acquisition Rp Rp
PT Tunggal Pilar Perkasa PT Medika Sarana Traliansia 2014 25,748 25,748

PT Prawira Tata Semesta PT Balikpapan Damai Husada 2018 419 419
PT Guchi Kencana Emas PT Golden First Atlanta 2018 12,367 12,367
Total/ Total 38,534 38,534
25. Dividends and Reserve Funds 25. Dividend and Reserve Fund
Based on the Deed of Minutes of the Annual Based on Deed of Minutes of Annual General
General Meeting of Shareholders No. 88 dated Meeting of Shareholders No. 88 dated April 28,
28 April 2021 made before Sriwi Bawana 2021 made in presence Sriwi Bawana Nawaksari,
Nawaksari, SH, M.Kn, Notary in Tangerang SH, M.Kn, a Notary in Tangerang Regency, a total
Regency, the shareholders agreed to have dividend for 2020 of Rp 224,591 or Rp 139 (full
approved the distribution of total cash dividends Rupiah) per ordinary share was approved. The
for 2020 in the amount of cash dividend has
81

Rp 224,591 or Rp 139 (in Rupiah) per common been paid on 28 May 2021.
share. The cash dividend was paid on 28 May
2021.
Based on the Deed of Minutes of the Annual Based on Deed of Minutes of Annual General
General Meeting of Shareholders No. 15 dated Meeting of Shareholders No. 15 dated July 7,
7 July 2020 made before Sriwi Bawana 2020 made in presence Sriwi Bawana Nawaksari,
Nawaksari, SH, M.Kn, Notary in Tangerang SH, M.Kn, a Notary in Tangerang Regency, the
Regency, the shareholders agreed, among other stockholders approved, among
things, not to distribute dividends for the year others, not to distribute cash dividend for the
ended 31 December 2019. years ended December 31, 2019.
26. Non-controlling Interest 26. Non-Controlling Interest
Details of non-controlling interests in the equity Details of non-controlling interests in the equity
of each subsidiary in of each subsidiary as of June 30, 2021 and
June 30, 2021 and December 31, 2020 are as December 31, 2020 are as follows:
follows:

2021 2020
Rp Rp
PT Kusuma Primadana 44,635 36,817 PT Kusuma Prima Dana

PT Prima Mugi Jaya 14.012 12,627 PT Prima Mugi Jaya
PT Prawira Tata Semesta 30,333 24,373 PT Prawira Tata Semesta
PT Visiindo Galaxy Jaya (15,895) (12,234) PT Visiindo Galaxy Jaya
PT Pancawarna Semesta (9,060) (5,817) PT Pancawarna Semesta
PT Siloam Graha Utama (4,476) (4,476) PT Siloam Graha Utama
Other 6,617 4,318 Others
27. Share-Based Payments 27. Share-Based Payment
In 2021, the Group has share options granted In 2021, the group has share options are granted
to certain directors and employees. The to directors and to selected employees.
exercise price of the given option is in The exercise price of the granted options is
accordance with the price at the time of the based on offer letter and notification letter.
offer letter and notification letter. The options Options will be settled gradually over a period of
will be settled gradually over a period of three three years (“contract period”) subject to
years (the “contract
completion
period”)
of service
thesubject
three-year
period
to completion of the three years service period (the
(vesting period) and subject to the achievement vesting period) and subject to the achievement of
of profit for the year. Option can profit for the year. Options can be exercised on
certain dates each year for the duration of the
executed on certain dates each year for the contract. The Group has no legal or constructive
duration of the contract. The Group has no obligation to repurchase or settle the options in
legal or constructive obligation to repurchase cash.
or settle options in cash.
82

Of the 2,778,000 options granted, as of June Out of the 2,778,000 granted options, until June
2021 none have been exercised. 2021 were not exercisable.
The weighted average fair value of the options The weighted average fair value of options
granted during the year determined using the granted during the year was determined using
Black-Scholes valuation model is Rp 7,195 the Black-Scholes valuation model was IDR
per option. The significant model inputs are a 7,195 per option. The significant inputs into the
weighted average share price of Rp 8,675 on model were weighted average share price of Rp 8,675
grant date, exercise price as shown above, on the grant date, exercise price shown above,
volatility of 134%, expected option life of three volatility of 134%, an expected option life of three
years and annual risk-free interest rate of years, and an annual risk-free interest rate of
4.86%. 4.86%. The volatility measured at the standard
deviation of continuously compounded share
returns is based on statistical analysis of daily
Volatility is measured by the standard deviation share prices over the last three years.
of compounded stock returns based on a
statistical analysis of daily stock prices over
the past three years.
28. Income 28. Revenue
The breakdown of earnings for the years Details of revenue for the for the years ended
ended June 30, 2021 and 2020 is as follows: June 30, 2021 and 2020 are as follows:
6 months/ months
2021 2020
Rp Rp
Inpatient In-Patient
Medical Support Services and Expert Services 430.020 258,887 Medical Support Services and Professional Fees
Medicines and Medical Supplies 579,713 472,981 Drugs and Medical Supplies
Inpatient Room 389.116 277,358 Room service
Hospital Facilities 571.036 256,705 Hospital's Facility
Operating room 64,949 58,644 Operating Theater
Administration and Other Income 43,173 37,398 Administration Income and Others
Sub Quantity 2,078,007 1,361,973 Sub-Total
Outpatient Out-Patient
Medical Support Services and Expert Services 1,193,448 637,666 Medical Support Services and Professional Fees
Medicines and Medical Supplies 290.890 414,754 Drugs and Medical Supplies
Hospital Facilities 181.040 61.370 Hospital's Facility
Administration and Other Income 68,119 37,344 Administration Income and Others
Sub Quantity 1,733,497 1.151.134 Sub-Total

Amount 3,811,504 2,513,107 Total
There are no customers with income value There were no sales to customers which
above 10% of revenue represent more than 10% of revenues for the
for each year. respective years.
29. Cost of Revenue 29. Cost of Revenue
Details of cost of revenue for Details of cost of revenue for the 6 (six) months
period of 6 (six) months ending on periods ended June 30, 2021 and 2020 are as
June 30, 2021 and 2020 are as follows: follows:
83

6 months/ months
2021 2020
Rp Rp
Inpatient In-Patient
Medicines, Medical Equipment and Clinics (Note 6) 661,415 435,715 Medicine, Medical and Clinical Supplies (Note 6)
Expert Services, Salary and Employee Welfare 186,768 158,132 Doctors Fee, Salaries and Employees' Benefit
Referral Fee 61,890 76,777 Outchecking Expenses
Depreciation (Note 13) 61,079 72,649 Depreciation (Note 13)
Food and Drink 34,879 48.718 food and beverage
Etc 45,980 58.473 Others
Sub Quantity 1.052.011 850,464 Sub-Total
Outpatient Out-Patient
Medicines, Medical Equipment and Clinics (Note 6) 457,193 341,694 Medicine and Medical and Clinical Supplies
Expert Services, Salary and Employee Welfare 267,386 206,863 Medicine, Medical and Clinical Supplies (Note 6)
Referral Fee 114,491 59,235 Outchecking Expenses
Etc 81.190 42,883 Others
Sub Quantity 971.078 706,237 Sub-Total
Amount 2,023,089 1,556,701
There are no purchases to suppliers of more There were no purchases to suppliers which
than 10% of revenue for each year. represent more than 10% of revenues for the
respective years.
30. Operating Expenses 30. Operating Expenses
Details of operating expenses for the 6 (six) Details of operating expenses for the 6 (six)
month period ended June 30, 2021 and months periods ended June 30, 2021 and 2020
2020 are as follows: are as follows:
6 months/ months
2021 2020
Rp Rp
Selling expenses Selling Expenses
Salary and Employee Welfare 49,658 25,833 Salaries and Employees' Benefits
Marketing and Advertising 23.107 17.063 Marketing and Advertising
Depreciation (Note 13) 2,820 2.180 Depreciation (Note 13)
Etc 8,455 2,870 Others
Sub Quantity 84,040 47,946 Sub-Total
General and Administrative Expenses General and Administrative Expenses

Salary and Employee Welfare 297,707 270,565 Salaries and Employees' Benefits
Other Office Fees 119,383 88.411 Other Office Expenses
Repair and maintenance 102.434 78.701 Repairs and Maintenance
Utilities 78,211 88,342 Utlities
Consulting Services 28,951 14,580 Professional Fees
Insurance 14,514 10,765 Insurances
Training and development 13,801 9,771 Training and Development
Transportation and Accommodation 10,210 11,585 Transportation and Accommodation
Legal and Licensing 9.145 9,747 Permit and License
Office supplies 9,644 9.852 Office Supplies
Rent 11,067 15,367 Rental
Etc 23,757 10,128 Others
Sub Quantity 1,066,474 857,278 Sub-Total
Amount 1,150,514 905,224 Total
84

31. Finance Expenses - Net 31. Financial Charges - Net
Details of financial income (expenses) - net for Details of financial income (charges) - net for
the 6 (six) month period ended June 30, 2021 the 6 (six) months periods ended
and 2020 are as follows: June 30, 2021 and 2020 are as follows:
6 months/ months
2021 2020
Rp Rp
Interest Earning 7.915 4.035 Interest Income

Financial Burden Financial Charges
Bank Administration (11,903) (10,229) Administration Bank
Loan interest (20,938) (75,646) Interest Expenses
Sub Quantity (32,841) (85,875) Sub-Total
Total - Net (24,926) (81,840) Total - Net
Bank administration fees are administrative Administration bank represents administration

expenses for the use of electronic machines charges on using electronic data capture (EDC)
data capture (EDC) and utilization of bank and bank services.
services.
32. Other Expenses - Net 32. Other Expenses - Net
6 months/ months
2021 2020
Rp Rp
Allowance for Impairment Losses and Allowance and Write off for
Write-Off of Accounts Receivable 119,449 9.952 Impairment Losses of Trade Receivables
Scholarship 22,687 19,599 Scholarship
Software Amortization 12,302 10,260 Amortization of Software
Foreign Exchange Losses - Net 10,355 7.323 Forex Exchange Loss - Net
Etc (20,708) (890) Others
144,085 46,244
33. Basic Profit (Loss) per Share 33. Basic Earnings (Loss) per Share
The calculation of basic earnings per share is as Calculation of basic earnings per share is as
follows: follows:
6 months/ months
2021 2020
Rp Rp
Profit (Loss) attributable to Owners of the Profit (Loss) Attributable to Owners of the
Parent 291,537 (130.042) Parent Entity
Weighted average number of Weighted average number of

shares for basic earnings per shares for computation of
share calculation 1,625,765.625 1,625,765.625 earnings per share
Basic Profit (Loss) per Share 179.32 (79.99) Earnings (Loss) per Share
85

34. Monetary Assets in Foreign Currencies 34. Monetary Asset Denominated in

Foreign Currencies
June 30/ June 30, 2021

Foreign Currency Equivalent/
Equivalent
USD SGD EURO AUD Rupiah
Asset Asset
Cash and cash equivalents 1,992,205 64,280 522 458,635 34,587 Cash and Cash Equivalents
Liability Liability
148.148 -- -- -- 2,148 Other Current Financial Liabilities
Other Short-Term Financial Liabilities
Total Assets - Net 1,844,057 64,280 522 458,635 32,439 Total Assets - Net

Foreign Currency Equivalent/
Equivalent
USD SGD EURO AUD Rupiah
Asset Asset
Cash and cash equivalents 1,669,550 64,356 15,868 332,931 28.095 Cash and Cash Equivalents
Liability Liability
148.148 -- -- -- 2.090 Other Current Financial Liabilities
Other Short-Term Financial Liabilities
Total Assets (Liabilities) - Net 1,521,402 64,356 15,868 332,931 26.005 Total Assets (Liabilities) - Net
The monetary assets and liabilities above are described Monetary assets and liabilities mentioned
using the closing rate of Bank Indonesia above are translated using Bank Indonesia
June 30, 2021. closing rate as at June 30, 2021.
35. Financial Instruments and Financial Risk 35. Financial Instruments and Financial
Management Risks Management
The main financial risks faced by the Group are The main financial risks faced by the Group are
credit risk, liquidity risk and market risk. Attention credit risk, liquidity risk and market risk.
to managing this risk has increased significantly Attention to the management of this risk has
in light of the changing and volatile financial increased significantly with considerable
markets in Indonesia. change and volatility in the Indonesian markets.
The Board of Directors has reviewed the financial risk The Directors have reviewed the financial risk
management policies on a regular basis. management policy regularly.
(i) Credit Risk (i) Credit Risk

Credit risk is the risk that the Group will incur Credit risk is the risk that the Group will incur
a loss arising from a loss arising from the customers, clients or
customers, clients or counterparties who fail counterparties that fail to meet their
to fulfill their contractual obligations. The contractual obligations. The Group's financial
Group's financial instruments that have instruments that have the potential credit risk
potential credit risk consist of cash and cash consist of cash and cash equivalents,
equivalents, trade receivables, accounts receivable, other current financial
other current financial assets and other non- assets and other
current financial assets. non-current financial assets.
Total maximum credit risk exposure of Total maximum credit risk exposure of
financial assets as of June 30, 2021 and financial assets on June 30, 2021 and
December 31, 2020 are as follows: December 31, 2020 are as follows:
86

June 30/ June 30 , December 31/ December 31,

2021 2020
Carrying Value/ Exposure Carrying Value/ Exposure
Carrying Maximum/ Carrying Maximum/
Value Maximum Value Maximum
Exposure Exposure
Rp Rp Rp Rp
Financial Assets Financial Assets

Cash and cash equivalents 849,835 849,835 907,531 907,531 Cash and Cash Equivalents
Accounts receivable 1,532,801 1,532,801 1,098,874 1,098,874 Trade Receivables
Other Current Financial Assets 45,443 45,443 49,600 49,600 Other Current Financial Assets
Other Non-Current Financial Assets 5,258 5,258 -- -- Other Non-Current Financial Assets
Other Non-Current Assets 117,893 117,893 118,095 118,095 Other Non-Current Assets
Amount 2,551,230 2,551,230 2,174,100 2,174,100 Total
The Group manages credit risk by setting limits The Group manages credit risk by setting limits
on the amount of risk that can be accepted for on the amount of risk that is acceptable to each
each customer and being more selective in the customer and to be more selective in choosing
selection of banks and financial institutions, banks and financial institutions, only banks and
namely only well-known and reputable banks
and financial institutions. reputable and well chosen financial institution.
The following table analyzes assets that are The following tables analyze assets that have
past due but not impaired and those that have matured but not impaired and are not yet due
not yet matured and not impaired as well as financial assets that
maturity and is not impaired and individually are individually determined to be impaired:
determined financial assets are impaired
score:
June 30/ June 30, 2021

Experience Past due but not impaired/ Not yet due Amount/
Decrease and not Total
Individual Value Overdue but Not Impaired impaired/
Individually
Impaired
0-90 Days/ 91-180 Days/ > 181 Days/ Not Yet Overdue and
Days Days Days not

Impaired
Rp Rp Rp Rp Rp Rp
Cash and cash equivalents -- -- -- -- 849,835 Cash and Cash Equivalents 849,835 Cash and Cash Equivalents
236,468 596,019 255,049 -- 673,447 Trade Receivables 1,760,983 Trade Receivables
Accounts receivable
-- -- -- -- Financial
45,443Assets
45,443 Other Current Other Current Financial Assets
Other Current Financial Assets
-- -- -- 5.258 Due from Related Parties--Non-Trade 5.258 Other Non-Current Financial Assets
Other Non-Current Financial Assets
-- -- -- -- 117,893 Other Non-Current Assets Other Non-Current Assets
Other Non-Current Assets
Amount 236,468 596,019 255,049 5.258 117,893 1,686,618 2,779,412 Total Total

Experience Past due but not impaired/ Not yet due Amount/
Decrease and not Total
Individual Value Overdue but Not Impaired impaired/
Individually
Impaired
0-90 Days/ 91-180 Days/ > 181 Days/ Not Yet Overdue
Days Days Days but not Impaired
Rp Rp Rp Rp Rp Rp
Cash and cash equivalents -- -- -- -- 907,531 Cash and Cash Equivalents Cash and Cash Equivalents
Accounts receivable 117,019 400,508 88,395 -- 907,531 609,971 Trade Receivables Trade Receivables
Other Current Financial Assets -- -- -- -- 1,215,893
Financial Assets49,600 49,600
118,095 OtherOther
Current
Non- Other Current Financial Assets
Other Non-Current Assets -- -- -- -- Current Assets 118,095 1,685,197 Other Non-Current Assets
Amount 117,019 400,508 88,395 -- 2,291,119 Total Total
The group has recorded an allowance The Group has recorded provision for
impairment of trade receivables impairment of trade receivables which has
(Note 4). overdue accounts (Note 4).
Financial assets that have not yet matured with Financial assets that are not yet due, as indicated
indications of credit risk, especially from credit risk primarily of cash and
87

cash and cash equivalents and other current cash equivalents and other current financial
financial assets. assets.
Management is of the opinion that there is no Management believes that there is no

significant credit risk for the placement of significant credit risk on placement of funds in
funds in banks that are unrestricted or the bank as its usage is not limited or restricted,
because the funds are only placed in banks
limited, because the placement of funds is that are well predicated.
only placed in banks that have a good
reputation.
(ii) Liquidity Risk (ii) Liquidity Risk

Liquidity risk is the risk that the Group's cash Liquidity risk is the risk that the cash flow
flow position shows that short-term income is position of the Group indicates short-term
not sufficient to cover short-term expenses. earnings are not enough to cover short term
expenses.
The Group manages liquidity risk by The Group manages liquidity risk by maintaining
maintaining sufficient cash and cash cash and cash equivalents that
equivalents to meet the Group's commitments are sufficient to meet the Group's commitment
to the Group's normal operations and regularly to the normal operation of the Group and
evaluating projected and actual cash flows, regularly evaluates the cash flow projections
as well as scheduled maturity dates for assets and actual cash flows, as
and liabilities. well as maturity date schedule of financial
finance. assets and liabilities.
The following table analyzes the breakdown The following table details financial liabilities
of financial liabilities by maturity: analyzed by maturity:
June 30/ June 30, 2021
Will Due On Do not have Amount/
Less than 15 years/ More than 5 Due date/ Total
1 year/ years Year/ Maturity not
Less than 1 year More than 5 Determined
years
Rp Rp Rp Rp Rp
Measured at Amortized Cost Measured at Amortized cost
Accounts payable 430,259 -- -- -- 430,259 Trade Payable
Accrued Expenses 997,533 -- -- -- 997,533 Accrued Expenses
Bank Debt 104,627 7,963 -- -- 112,590 Bank Loans
Lease Liability 203.742 377,348 -- -- 581.090 Lease Liabilities
Other Short-Term Financial Liabilities 94,649 -- -- -- 94,649 Other Current Financial Liabilities
Amount 1,830,810 385,311 -- -- 2,216,121 Total

Will Due On Do not have Amount/
Less than 15 years/ More than 5 Due date/ Total
1 year/ years Year/ Maturity not
Less than 1 year More than 5 Determined
years
Rp Rp Rp Rp Rp
Measured at Amortized Cost Measured at Amortized cost
Accounts Payable - Third Parties 330,047 -- -- -- 330,047 Trade Payable - Third Parties
Accrued Expenses 958,100 -- -- -- 958,100 Accrued Expenses
Factoring Liability -- -- -- -- -- Factoring Liabilities
Bank Debt 4,380 10,340 -- -- 14,720 Bank Loans
Lease Liability 98,556 491,515 -- -- 590,071 Lease Liabilities
Other Short-Term Financial Liabilities 145,987 -- -- -- 145,987 Other Current Financial Liabilities
Amount 1,537,070 501.855 -- -- 2,038,925 Total
(iii) Market Risk (iii) Market Risk

a. Currency Risk a. Foreign Currency Risk
Currency risk is the risk of fluctuations in the Currency risk is the risk of fluctuations in
value of financial instruments caused by the value of financial instruments due to
changes in currency exchange rates changes in foreign currency exchange rates.
foreign money.
88

The Group is exposed to foreign currency risk Group is exposed to foreign currency risk because
because it has assets and liabilities denominated the Group has assets and liabilities in foreign
in foreign currencies. currency.
Sensitivity Analysis Sensitivity Analysis

With the hypothesis that the weakening of the A hypothetical weakening of the exchange rate of
Rupiah exchange rate against the US Dollar by Rupiah against US Dollar is 10%, the Group's
10%, will reduce profits profit before tax for the years would have decreased
before tax for the current year of by
IDR 2,888 (2020: increased by IDR 2,355). Rp.2.888 (2020: increased by Rp.2.355).
With the hypothesis that the weakening of the A hypothetical weakening of the exchange rate of
Rupiah exchange
Dollar
ratebyagainst
10%, itthe
profit
willAustralian
increase
before period
tax
the Rupiah against Australian Dollar is 10%, the
Group's profit before tax for the periods would
have increased by
running for IDR 501 (2020: IDR 359). IDR 501 (2020: IDR 359).
Weakening of exchange rates against currencies The weakening of the exchange rate of Rupiah
other foreign assets does not have a material against other foreign currencies do not have
impact on profit before tax. material impact to the profit after
taxes.
b. Interest Rate Risk b. Interest Rate Risk
Interest rate risk is the risk that the fair value or Interest rate risk is the risk that the fair
future cash flows of a financial instrument will value or future cash flows of a financial
fluctuate due
Theto Group
changes hasin no
market interest
ethnic risk rates. instrument will fluctuate because of
changes in market interest rates.
The Group did not have interest rate risk
interest mainly because it does not have mainly because it does not have a loan
loan with interest rate with
floating. a floating interest rate.
Fair Value Measurement Estimated Fair Value

The table below presents the carrying values and The following table presents the carrying amounts of
estimated fair values of each category of financial each category of financial assets and liabilities:
assets and liabilities:

2021 2020
Carrying Value/ Fair Value/ Carrying Value/ Fair Value/
Carrying Fair Value Carrying Fair Value
Value Value
Rp Rp Rp Rp
Financial Assets Financial Assets

Loans and Receivables Loans and Receivables
Cash and cash equivalents 849,835 849,835 907,531 907,531 Cash and Cash Equivalents
Accounts receivable 1,532,801 1,532,801 1,098,874 1,098,874 Trade Receivables
Other Current Financial Assets 45,443 45,443 49,600 49,600 Other Current Financial Assets
5,258 5,258 -- -- Other Non-Current Financial Assets
Other Non-Current Financial Assets
Other Non-Current Assets 117,893 117,893 118,095 118,095 Other Non-Current Assets
Amount 2,551,230 2,551,230 2,174,100 2,174,100 Total
Financial Liabilities Financial Liabilities

Measured by Cost Measured at
Amortized Acquisition Amortized cost
Accounts payable 430,259 430,259 330,047 330,047 Trade Payable
Accrued Expenses 997,533 997,533 958,100 958,100 Accrued Expenses
Bank Debt 112,590 112,590 14,720 14,720 Bank Loans
Lease Liability 581.090 581.090 590,071 590,071 Leases Liabilities
Other Short-Term Financial Liabilities 94,649 94,649 145,987 145,987 Other Current Financial Liabilities
Amount 2,216,121 2,216,121 2,038,925 2,038,925 Total
89

On 30 June 2021 and 31 December 2020, As of June 30, 2021 and December 31, 2020,
Management estimates that the carrying amounts management estimated that the carrying value of
of current assets and short-term financial liabilities the current assets and financial liabilities and those
with undetermined maturities reflect their fair values. accounts with no determined maturity
reflected their fair value.
36. Capital Management 36. Capital Management
Management does management Management conducts supervision over

capital through monitoring of cash and cash the management of capital through cash and cash
equivalent balances, outstanding liabilities and equivalents balance, liability balance and the results
results of operations of the Company as well as liability ratios of operations of the Company as
net adjusted to capital. This capital management well as the ratio of adjusted net liabilities to equity.
aims to maintain the continuity of the Company's Capital management is to maintain the continuity of
business and maximize benefits for shareholders the Company's business and maximize the benefits
for shareholders and other stakeholders. In
shareholders and other stakeholders. managing the capital, the Company periodically
In managing capital, evaluate
The Company conducts periodic evaluations of the the necessity and sufficiency of funds to
need and adequacy of funds to support the support the Company's operation and performance
Company's operational activities and evaluates the evaluation of ongoing projects and new project
performance of ongoing projects as well as the development.
development of new projects .
The following is a summary of quantitative data on The following summaries quantitative data for
capital management as of June 30, 2021 and capital management on June 30, 2021 and
31 December 2020: December 31, 2020:

2021 2020
Rp Rp
Net Liabilities: Net Liabilities:

Total Liabilities 2,632,539 2,409,411 Total Liabilities
Less : Cash and Cash Equivalents (849,835) (907,531) Less: Cash and Cash Equivalent
Total Net Liabilities 1,782,704 1,501,880 Total Net Liabilities
Total Equity 6,101,441 6,018,371 Total Equity
Plus (Subtract): Addition (Less):

Additional Capital - Net 32,452 32,452 Net Additional Paid - in Capital
Transaction Value Difference Difference in Value from
with Non-Controlling Parties 38,534 38,534 Non-controlling Interset Transaction

--
Stock Based Reserve (6,956) Share-based Payment Reserve
Treasury Stock 50,034 50,034 Treasury stock
Non-controlling interests (66,166) (55,608) Non-controlling Interest
Amount 47,898 65.412 Total
Adjusted Amount of Equity 6,149,339 6,083,783 Total of Adjusted Equity

Net Liability Ratio Net Liability Ratio
to Adjusted Equity 0.29 0.25 to Adjusted Equity
90

37. Additional Information Regarding Cash Flow 37. Additional Information Related to
Cash Flows
a. Non-Cash Transactions ac Non-cash Transactions

The following are investing and financing activities The following are investing and financing activities
that do not affect cash flow: that did not affect cash flows:
6 months/ months
2021 2020
Rp Rp
Addition of Fixed Assets Addition of Property and Equipment
from Reclassification of Advances 27,446 14,047 from Reclassification of Advances
Addition of Fixed Assets and Addition of Property and Equipment and
Intangible Assets through Financing Lease 160,477 2,317 Intangible Assets through Finance Lease
Reclassification of Fixed Assets Direct Ownership Reclassification of Direct Acquisition of Property and
Become a Fixed Asset Financing -- 34,497 Equipment to Finance Lease Assets
Additional Investment in Associates from Other Addition of Investment in Associates
Current Financial Assets -- 11,044 from Other Current Financial Assets
Interest related to the Implementation of PSAK 73 15,652 64,222 Interest due to Implementation of PSAK 73
b. Reconciliation of Liabilities arising from b. Reconciliation of Liabilities Arising from

Financing Activities Financing Activities
The table below shows the reconciliation of The below table sets out a reconciliation of liabilities
liabilities arising from financing activities for the 6 arising from financing activities for the
(six) month period ended 6 (six) months periods ended June 30, 2021 and
as of June 30, 2021 and December 31, 2020, as December 31, 2020, as follows:
follows:
Beginning balance/ Cash flow/ Non-Cash Change/ Ending balance/
Beginning Cash Flows Non-Cash Movement Ending Balance
Balance
Rp Rp Rp Rp
June 30, 2021 June 30, 2021
-- -- -- --
Factoring Liability Factoring Liabilities
14,720 97,870 -- 112,590 Bank Loans
Bank Debt
Lease Liability 590,071 (23,327) 14,346 581,090 Lease Liabilities
Amount 604,791 74,543 14,346 693,680 Total
38. Important Bonds and Covenants 38. Commitments and Significant

Agreements
a. Lease Agreement • a. Lease Agreements

Based on the Deed of Sale and Purchase No. 146/2010, • Based on Deed of Sale and Purchase Agreement
PT East Jakarta Medika (EJM), a subsidiary, No. 146/2010, PT East Jakarta Medika (EJM), a
sold the land and building of Siloam Cikarang subsidiary, sold the land and building of Siloam
Hospital (Property) to PT Graha Pilar Sejahtera Cikarang Hospital (the Property) to PT Graha
(GPS) where GPS is a wholly-owned subsidiary Pilar Sejahtera (GPS), a wholly owned subsidiary
of First REIT. The selling price of the property of First REIT at the selling price of SGD33
is SGD33,333,333 ,333,333 and leased back the property.
and the property is leased back.
Based on the rental agreement made by Allen Based on the rental agreement of
& Gledhill Advocates & Solicitors dated Allen & Gledhill Advocates & Solicitors dated
November 8, 2010, PT East Jakarta November 8, 2010, PT East Jakarta Medika
Medika (EJM) as the party receiving the (EJM) which received novation from
novation lease from PT Lippo Karawaci Tbk, PT Lippo Karawaci Tbk, ultimate parent entity,
last entity, date
parent on December 28, 2010 entered into
91

December 28, 2010, entered into a lease agreement a lease agreement with PT Graha Pilar Sejahtera for 15
with PT Graha Pilar Sejahtera for 15 years as amended years as amended and restated based on Supplemental
and restated based on the Additional Lease Agreement Lease dated March 30, 2021. Based on the agreement,
dated March 30,and
2021. EJM shall pay rental fee which consists of base rent and
variable rent. Base rent
Based on the agreement, EJM will pay the rental fee commences in the first years of the lease
which consists of the basic rental rate and the variable period and will be adjusted in the following years, while
rental rate. The principal rent is determined in the first variable rent will commence in the second years of the
year and is then adjusted accordingly, while the tariff lease
period based on certain percentage of gross revenue.
variables are calculated starting from the second year Rental expense will be paid every 3 months. Any late
based on a certain percentage of gross revenue. Rent payment will be charged
is paid every 3 months. to 2% penalty plus interest rate based on the
Late payments will be subject to a penalty of 2% plus average lending rate of 3 banks in Singapore.
the average loan interest rate from 3 certain banks in
Singapore.
The sale and leaseback transactions meet the As this sale and leaseback transaction met the
classification of operating leases and classification of operating lease and the transaction price
the transaction price is above fair value was above its fair value,
so that the resulting profit is recognized as the difference was recognized as deferred gain (Note 20).
deferred earnings (Note 20).
For the period of 6 (six) months ended Lease value that are due in the 6 (six) months periods
As of June 30, 2021 and December 31, 2020, the rental ended June 30, 2021 and December 31, 2020 amounted
value due in that period is to Rp16,108
and Rp.29,010, respectively.
IDR 16,108 and IDR 29,010.
• On January 7, 2012, the Company • On January 7, 2012, the Company through PT Rumah
through PT Rumah Sakit Siloam Hospital Sumsel Sakit Siloam Hospital Sumsel
(RSSH) a subsidiary, entered into a hospital building (RSSH), a subsidiary, entered into a lease agreement of
rental agreement Siloam Hospitals
Siloam Hospitals Palembang (Siloam Palembang (Siloam Sriwijaya) with
Sriwijaya) with PT Palembangparagon PT Palembang Paragon Mall (PM). This agreement is
Mall (PM). This agreement is valid for 10 years from the valid for 10 years since
hospital 's grand opening and has no grace period the grand opening of the hospital and
included a rental free period (grace period) for 3 (three)
subject to a lease (grace period) for 3 (three) months months since the grand opening of the hospital.
from the grand opening of the hospital.
Based on this agreement, Siloam Sriwijaya Based on the agreement, Siloam Sriwijaya shall pay
will pay the rent of rental fee in the amount of Rp3,000 and will be increased
Rp3,000 and increasing by Rp500 every three years, by Rp500 every three years. The rental fee is payable
which is paid in advance for each rental period no later
than the 10th (tenth) of the first month of the period in advance for each period not later than the 10 th day of
the first month of the rental period.
rent.
92

On October 5, 2012, PM signed a building On October 5, 2012, PM entered into transfer of

ownership transfer agreement with PT Bisma property ownership agreement with
Pratama Karya (BPK), so that Siloam Sriwijaya PT Bisma Pratama Karya (BPK), therefore
received a novation of ownership Siloam Sriwijaya received novation of lease
ownership. This agreement did not change the
rent. This agreement does not change terms of the original lease agreement.
the terms of the lease in the previous agreement.
On January 2, 2014, RSSH and PT Bisma On January 2, 2014, RSSH and PT Bisma
Pratama Karya (BPK) ended Pratama Karya (BPK) terminated the building
dated building lease agreement lease agreement dated January 7, 2012,
January 7, 2012, due to the transfer of ownership due to transfer of ownership of those buildings
of the building and re-entered the Siloam and reestablish the rental agreement of Siloam
Sriwijaya building rental agreement with BPK Sriwijaya withDecember
BPK on January
2, 2014,2,RSSH
2014.
the lease On
agreement
terminated
between RSSH and BPK to then entered into a
on January 2, 2014. On December 2, 2014, rental agreement of the Siloam Sriwijaya hospital
RSSH terminated the rental agreement between building with PT Metropolis Propertindo Utama.
RSSH and BPK to then enter into an agreement This agreement is valid for 15 years since the
issuance of Siloam Sriwijaya business license
Siloam Sriwijaya hospital building lease with PT November 6, 2013. Rent is paid every 3 months.
Metropolis Propertindo Utama. This agreement
is valid for on
15 years from the date of issuance of Siloam
Sriwijaya's business license on November 6, 2013.
Rent is paid every 3 months.
For the period of 6 (six) months ended Lease value that are due in the 6 (six) months
As of June 30, 2021 and December 31, 2020, periods ended June 30, 2021 and December 31,
the rental value due in that period is 2020 amounted to Rp8,940
and Rp.6,955, respectively.
IDR 8,940 and IDR 6,955.
• On May 28, 2014, PT Berlian Cahaya Indah, a • On May 28, 2014, PT Berlian Cahaya Indah,
subsidiary, entered into a a subsidiary, entered into lease agreements for
Siloam Hospitals Purwakarta hospital building Siloam Hospitals Purwakarta's hospital building
rental agreement with PT Metropolis Propertindo with PT Metropolis Propertindo Utama. This
Utama. agreement is valid for 15 years
This agreement is valid for 15 years from from the date of issuance of the business license
The date of issuance of the business license of Siloam Hospitals Purwakarta on May 14, 2014.
from Siloam Hospitals Purwakarta is on Rent is paid every 3 months.
May 14, 2014. Rent is paid every 3 months.
For the 6 (six) months period ended June 30, Lease value that are due in the 6 (six) months
2021 and December 31, 2020, the rental value periods ended June 30, 2021 and December 31,
due in that period is Rp. 2020 amounted to Rp9,070
and Rp6,062, respectively.
IDR 9,070 and IDR 6,062.
• On December 22, 2014, • On December 22, 2014, PT Krisolis Jaya

PT Krisolis Jaya Mandiri, a subsidiary, entered Mandiri, a subsidiary, entered into lease
into a hospital building rental agreement for agreements for Siloam Hospitals Kupang
Siloam Hospitals Kupang hospital building with PT Nusa Bahana Niaga
with PT Nusa Bahana Niaga which which was transferred to PT Metropolis
93

then transferred to PT Metropolis Propertindo Propertindo Utama based on the transfer of

Utama based on the transfer of the lease lease agreement dated December 14, 2015.
agreement dated This agreement is valid for 15 years from the
December 14, 2015. This agreement is valid date of issuance of the business license of
for 15 years from the date of issuance of the Siloam Hospitals Kupang which on December
business license from Siloam Hospitals 1, 2014. Rent is paid every 3 months.
Kupang on December 1, 2014.
2021 and December 31, 2020, the rental periods ended June 30, 2021 and
value due in that period is Rp. December 31, 2020 amounted to Rp4,643
IDR 4,643 and IDR 3,068.
• On April 1, 2015, the Company • On April 1, 2015, The Company, entered into
entered into a lease agreement for part of the lease agreements for several floors of a
building floor with PT Grahaputra building with PT Grahaputra
Mandirikharisma. This agreement is valid for Mandiricharisma. This agreement is valid for 4
4 years starting April 1, 2015. On May 1, years starting from April 1, 2015.
2019, this rental agreement has been renewed On May 1, 2019, this lease agreement has
and been renewed and valid for 5 years starting
valid for 5 years starting April 1, 2019. Rent from April 1, 2019. Rent is paid every
is paid every 3 months. 3 months.
For the 6 (six) month period ended June 30, Lease value that are due in the 6 (six) months
2021 and December 31, 2020, the rental periods ended June 30, 2021 and December
value due in the period 31, 2020 amounted to Rp1,460
each is equal to and Rp2,731, respectively.
IDR 1,460 and IDR 2,731.
• On August 24, 2016, PT Bina Bahtera Sejati, • On August 24, 2016, PT Bina Bahtera Sejati,
a subsidiary, entered into a hospital building a subsidiary, entered into a rental agreement
rental agreement with Siloam Hospitals Buton with PT Andromeda
Siloam Hospitals with PT Andromeda
Buton Sakti, Sakti, terminated on September 29, 2017 and
which ended in redeemed a lease agreement between PT Bina
dated September 29, 2017 and the lease Bahtera Sejati and PT Lippo Karawaci Tbk with
agreement was remade between PT Bina PT Buton Bangun Cipta as amended and
Bahtera Sejati and PT Lippo Karawaci Tbk restated based on Supplemental Lease dated
with PT Buton Bangun Cipta March 30, 2021. This agreement is valid for 15
as amended and restated based on the years starting from January 1, 2021.
Supplement to the Lease Agreement dated
March 30, 2021. Rental is paid every 3 months.
This agreement is valid for 15 years
effective January 1, 2021.
2021 and December 31, 2020, the rental periods ended June 30, 2021 and December
value due in that period amounted to Rp1,484, 31, 2020 amounted to Rp1,484
respectively. and Rp3,168, respectively.
and IDR 3,168.
94

• As of December 30, 2016, PT Lintas Buana • On December 30, 2016, PT Lintas Buana Jaya,
Jaya, a subsidiary, and PT Lippo a subsidiary, and PT Lippo Karawaci Tbk
Karawaci Tbk entered into a hospital building entered into Siloam lease agreements
rental agreement for Siloam Hospitals Labuan Hospitals Labuan Bajo's hospital building
Bajo with PT Prima Labuan Bajo with PT Prima Labuan Bajo as amended and
as amended and restated based on the restated based on Supplemental Lease dated
Supplement to the Lease Agreement dated March 30, 2021. This agreement is valid for 15
March 30, 2021. years commencing from January 1, 2021.
This agreement is valid for 15 years Rent is paid every 3 months.
2021 and December 31, 2020, the rental value periods ended June 30, 2021 and December
due in that period is Rp. 31, 2020 amounted to Rp1,621
IDR 1,621 and IDR 4,387.
• On June 2, 2017, PT Tataka Bumi Karya, a • On June 2, 2017, PT Tataka Bumi Karya, a
subsidiary, entered into a rental agreement for subsidiary, entered into lease agreements of
a hospital building located in hospital building located in Bogor with PT
in Bogor with PT Girimulia Perkasa Jaya Girimulia Perkasa Jaya with 16 years
with a term of 16 years. terms.
Rental portion for 6 (June) month period Rental portion for the 6 (six) months periods
ended June 30, 2021 and December 31, 2020, ended June 30, 2021 and December 31, 2020
amounting to amounted to Rp6,642
IDR 6,642 and IDR 11,955. and Rp. 11,955, respectively.
• On November 1, 2017, PT Gramari Prima • On November 1, 2017, PT Gramari Prima Nusa,

Nusa, a subsidiary, a subsidiary, entered into lease
entered into a hospital building rental agreements of hospital building located in
agreement located in Medan Medan with PT Crystal Cakrawala Indah
with PT Crystal Cakrawala Indah which is valid which is effective from January 10, 2015 until
as of January 10 January 9, 2020 which has been extended until
2015 until January 9, 2020 which has been January 9, 2025 with an option of renewal for 10
extended until January 9, 2025 with options years divided into 2 periods of 5 years each.
extension for 10 years which is divided into 2

periods of 5 years each.
2021 and December 31, 2020, the rental value periods ended June 30, 2021 and December
due in that period is Rp. 31, 2020 amounted to Rp10,665
IDR 10,665 and IDR 10,076.
• On August 24, 2016, PT Taruna • On August 24, 2016, PT Taruna Perkasa Megah,
Perkasa Megah, a subsidiary, entered into a a subsidiary, entered into lease agreements of
hospital building rental agreement located in hospital building located in
Jogjakarta with PT Mulia Jogjakarta with PT Mulia Citra Abadi with 15
Citra Abadi with a term of 15 years, which has years term. Which has been terminated and
been terminated and the lease agreement redeemed a lease agreement between PT
between PT Taruna Perkasa has been remade Taruna Perkasa Megah and PT Lippo Karawaci
Megah and PT Lippo Karawaci with Tbk with PT Yogya Central
95

PT Yogya Central Terpadu as amended and Terpadu as amended and restated based on
restated based on the Additional Lease Supplemental Lease dated March 30, 2021.
Agreement dated March 30, 2021. This agreement is valid for 15 years starting
from January 1, 2021. Rental is paid every 3
This agreement is valid for 15 years months.
For the period of 6 (six) months ended Lease value that are due in the 6 (six) months
As of June 30, 2021 and December 31, 2020, periods ended June 30, 2021 and December
the rental value due in that period is 31, 2020 amounted to Rp1,814
IDR 1,814 and IDR 7,216.
b. Sub-Lease Agreement between the Company b. Sub-Lease Agreement between the Company
and PT Lippo Karawaci Tbk (LK) and PT Lippo Karawaci Tbk (LK)
On April 30, 2013, May 13, 2013 and July 1, On April 30, May 13, and July 1, 2013, the
2013, the Company signed a sub-lease Company entered into a sub-lease
agreement agreement or lease agreement with LK, ultimate
or lease agreements with FIs, the parent entitas parent entity, covering property of Siloam
main properties, which include Siloam Hospitals Hospitals Lippo Village, RSUS, Siloam Hospitals
Lippo Village, RSUS, Siloam Hospitals Kebon Kebon Jeruk, Siloam Hospitals Surabaya, Siloam
Jeruk, Siloam Hospitals Surabaya, Siloam Hospitals Semanggi MRCCC, Siloam Hospitals
Hospitals Semanggi MRCCC, Siloam Hospitals Manado, Siloam Hospitals Makassar, Siloam
Manado, Siloam Hospitals Makassar, Siloam Hospitals Denpasar and Siloam Hospitals TB
Hospitals Denpasar and Siloam Hospitals TB Simatupang, where in each of the agreement
Simatupang, each of which has amended and
restated based on the Agreement has amended and restated based on
Supplemental Lease dated March 31, 2021,
except for agreement related to RSUS.
Additional Lease dated March 31, 2021, except
for RSUS related agreements.
For a period of 6 (six) months Lease value that are due in the 6 (six) months
ends on June 30, 2021 and periods ended June 30, 2021 and December 31,
December 31, 2020, the rental value due in that 2020 amounted to Rp131,900
period amounted to Rp131,900 and Rp102,388, and Rp102,388, respectively.
respectively.
c. Master Agreement between the Company and c. Master Agreement between the Company
PT Lippo Karawaci Tbk (LK) with PT Lippo Karawaci Tbk (LK)
On April 30, 2013, the Company entered into a On April 30, 2013, the Company entered into a
Preliminary Agreement with LK, the ultimate Preliminary Agreements with LK, ultimate parent
parent entity, which includes: entity, which include:
• Siloam General Hospital property rental • Property lease agreement of Siloam General
agreement and the property to be Hospital and the properties to be used as
used as Siloam Hospitals Kemang and Siloam Siloam Hospitals Kemang and Siloam Hospitals
Hospitals St. Moritz; St. Moritz;
• Right to build property to be used as Siloam • The right to build property that will be used as
Hospitals Yogyakarta, Siloam Hospitals Siloam Hospitals Yogyakarta, Siloam Hospitals
Bintaro and Bintaro and Siloam Hospitals Surabaya Manyar;
Siloam Hospitals Surabaya Manyar;
96

• Certain property offer agreements • The agreement to offer certain property to be

to operate as Siloam operated as Siloam Hospitals Pontianak; and
Hospitals Pontianak; and
• Siloam Hospitals Bandung joint operation • Cooperation agreement for Siloam Hospitals
agreement. Bandung.
d. Master Agreement between the Company and d. Master Agreement between the Company
PT Metropolis Propertindo Utama (MPU) with PT Metropolis Propertindo Utama (MPU)
On April 30, 2013, the Company signed a On April 30, 2013, the Company entered into a
Preliminary Agreement with MPU which includes: preliminary agreements with MPU which include:
• Sale and purchase of shares in Siloam Hospitals Malang, • Sale and purchase of shares of Siloam Hospitals
Siloam Hospitals Salemba, Siloam Hospitals Malang, Siloam Hospitals Salemba, Siloam
Surabaya Sea Master, Siloam Hospital Hospitals Surabaya Sea Master, Siloam
Palembang Paragon and Siloam Hospital Hospital Palembang Paragon and Siloam
Medan; Hospital Medan;
• Right to build property to be used as Siloam • Right to build properties that will be used as
Hospitals Siloam Hospitals Padang, Siloam Hospitals
Padang, Siloam Hospitals Bangka Belitung, Bangka Belitung, Siloam Hospitals Semarang
Siloam Hospitals Semarang Srondol, Siloam Srondol, Siloam Hospitals Bogor Internusa,
Hospitals Bogor Internusa, Siloam Hospitals Siloam Hospitals Jember, Siloam Hospitals
Jember, Siloam Hospitals Bluemall Bekasi, Bluemall Bekasi, Siloam Hospitals Bekasi
Siloam Hospitals Bekasi Grand Mall, Siloam Grand Mall, Siloam Hospitals MT Haryono,
Hospitals MT Haryono, Siloam Hospitals Siloam Hospitals Salemba, Siloam Hospitals
Salemba, Siloam Hospitals Lampung, Lampung, Siloam Hospitals Cempaka Putih
Siloam Hospitals Cempaka Putih dan and Siloam Hospitals Kupang;
Siloam Hospitals Kupang;
• Right to operate and manage • The right to operate and manage Siloam
Siloam Hospitals Kupang and Siloam Hospitals Kupang and Siloam Hospitals
Hospitals Medan; Medan;
• Property rental agreement to be used as • Property lease agreement of Siloam
Siloam Hospitals Hospitals Surabaya Sea Master, Siloam
Surabaya Sea Master, Siloam Hospitals Hospitals Pluit and Siloam Hospitals
Pluit and Siloam Hospitals Cempaka Putih; Cempaka Putih; and
and
• Agreements to offer certain properties to • The agreement to offer certain property to be
operate as Siloam Hospitals Purwakarta, operated as Siloam Hospitals Purwakarta,
Siloam Hospitals Ambon, Siloam Hospitals Siloam Hospitals Ambon, Siloam Hospitals
Lubuk Linggau, Siloam Hospitals Manado Lubuk Linggau, Siloam Hospitals Manado
Kairagi and Kairagi, Siloam Hospitals Serang and Siloam
Siloam Hospitals Pekanbaru. Hospitals Pekanbaru.
e. Al Ijarah Al Muntahiyah Bi Al Tamlik Financing e. Financing Facility Al Ijarah Al Muntahiyah Bi

Facility from PT Bank Al Tamlik from PT Bank Danamon Indonesia
Danamon Indonesia Tbk Tbk
Based on deed No. 50 dated 28 July 2020, the Based on death No. 50 dated July 28, 2020, the
Company obtained an Al Ijarah Muntahiyya Bi Company obtained the Al Ijarah Muntahiyya Bi
Al-Tamlik (IMBT) financing facility from PT Bank Al-Tamlik (IMBT) financing facility from PT Bank
Danamon Indonesia Tbk with a total facility of Danamon Indonesia Tbk with total facility
Rp170,000. As of the issuance date of the amounting to Rp170,000. As of the issuance
consolidatedhas
financial
not used
statements,
this facility.
the Company date of the consolidated financial statements, the
Company has not used this facility.
97

NOTES TO FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED
CONSOLIDATED (Continued) FINANCIAL STATEMENTS (Continued)
39. Operating Segment 39. Operating Segments
2021 (6 months/ months )
Siloam MRCCC Siloam Siloam Siloam Siloam Siloam Siloam Siloam Siloam Siloam Siloam Siloam Siloam Siloam Etc/ Total Before Elimination/ Consolidation/
Hospital Hospital Hospital Hospital Hospital Hospital Hospital Hospital Hospital Hospital Hospital Hospital Hospital Hospital Others Elimination/ Elimination Consolidation
Lippo Garden Surabaya Makassar Denpasar Palembang Purwakarta Cikarang TB Medan Manado Balikpapan ASRI Jambi Total Before
Village Orange Simatupang Elimination
Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp
External Revenue
228,577 253.001 254,400 134,151 151.306 102.709 94,605 117,823 59.167 64,811 113.734 45,063 84.126 48,638 28,931 296,965 2,078,007 -- 2,078,007
Inpatient/ Inpatient
Outpatient/ Outpatient 259,864 264,821 179,038 88,722 68,892 79,744 95.012 64,217 95,730 104,535 76,193 62.182 61.544 43,513 37,846 189.186 1.771.039 (37,542) 1,733,497
488,441 517,822 433.438 222.873 220,198 182.453 189,617 182.040 154.897 169,346 189,927 107.245 145,670 92.151 66,777 486,151 3,849,046 (37,542) 3,811,504
Gross Profit
44,405 87,890 69,402 58,832 78,173 42,738 37,801 58,942 8,256 22,572 42,291 9,843 42,941 17,906 7,488 396,516 1,025,996 -- 1,025,996
Outpatient/ Outpatient 97,514 94,516 74,088 47,485 15,333 33,167 38,478 21,953 51,474 40,775 29,329 28,610 24,516 15,736 11,300 96,057 720,331 42.088 762,419
141,919 182,406 143,490 106,317 93,506 75,905 76,279 80,895 59,730 63,347 71,620 38,453 67,457 33,642 18,788 492.573 1,746,327 42.088 1,788,415
Operating Expenses and Others/
Operating Expense and Others (80,918) (77,476) (54,929) (46,751) (30,504) (29,987) (35,692) (33,543) (51.375) (33,734) (34,901) (23.557) (22,668) (15,697) (14,698) (703,623) (1,290,053) (4,546) (1,294,599)
998 5,696 7,450 5,340 154 --

Financial Charges-Net (3,638) (2,006) (3,009) (279) (197) (390) (390) (4) (357) (6) (34,288) (24,926) (24,926)
-- -- -- -- -- -- -- 29 -- --
Tax Burden/ Tax Expenses (15,171) (11,970) (997) (9,862) (4,432) (1,090) (123,302) (166,795) (166.795)
Profit (Loss) for the Period/
Profit (Loss) for the Period 57.363 102,924 85.552 59,287 62.805 45.528 26,414 41.078 14,808 29,223 42.088 14,892 35,081 13,156 2,994 (368,640) 264.553 37,542 302.095
308.303 288.000 230,661 156.885 209,849 100,514 145.104 141.169 197,911 90,844 224,860 94,267 267,646 114,648 99.342 6,063.977 8,733.980 -- 8,733.980
Segment Assets
Segment Liability/
310,284 190,428 146.006 85,485 97,486 70,899 103,666 80,771 241,865 63.210 166,160 61.155 58,368 40,358 28,583 887,815 2,632,539 -- 2,632,539
Segment Liabilities
Capital Goods Expenditure/
8.956 14,184 5,671 8,691 8,757 4.744 3.286 2,991 10.113 4.744 2,991 4.744 1.335 1.575 425 133,513 216,720 -- 216,720
Capital Expenditure
shrinkage/
47,407 36,874 34,481 18.011 14,981 13.063 13,446 14,312 13,444 20,379 11,013 8.355 9.133 6.164 4.407 196,897 462,367 -- 462,367
Depreciation
Non-cash Expenses Other Than Depreciation/
24 60 55 -- -- 80 2 15 15 -- 15 6 15 -- 5 12.010 12.302 -- 12.302

Non-Cash Expenses exclude Depreciation
98

2020 (6 months/ months)
Siloam MRCCC Siloam Siloam Siloam Siloam Siloam Siloam Siloam Siloam Siloam Siloam Siloam Siloam Siloam Etc/ Total Before Elimination/ Consolidation/
Hospital Hospital Hospital Hospital Hospital Hospital Hospital Hospital Hospital Hospital Hospital Hospital Hospital Hospital Others Elimination/ Elimination Consolidation
Lippo Garden Surabaya Makassar Denpasar Palembang Purwakarta Cikarang TB Medan Manado Balikpapan ASRI Jambi Total Before
Village Orange Simatupang Elimination
Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp Rp
External Revenue
199,113 198,002 188,263 121,058 115,409 92,554 68,438 74,354 57,435 54,053 67,854 37,947 60,282 39,239 26,760 1,361,973 -- 1,361,973
Inpatient/ Inpatient (38,788)
Outpatient/ Outpatient 218,957 180,956 124,303 64,403 63,330 66,943 54,878 48,082 62,880 59,475 33,899 42,809 47,156 34,988 26,533 127,766 1,257,358 (106.224) 1.151.134
418,070 378,958 312,566 185,461 178,739 159,497 123,316 122,436 120,315 113,528 101,753 80,756 107,438 74,227 53,293 88,978 2,619,331 (106.224) 2,513,107
Gross Profit
38,924 78,440 57,491 46,069 45,297 30,469 29,149 28,721 16,334 17,742 28,294 577 21,647 11,146 7,041 54,168 511,509 -- 511,509
Outpatient/ Outpatient 82,871 52,788 43,371 22,152 17,850 27,580 15,008 10,282 20,583 13,146 5,756 10,448 11,693 9,202 7,307 95,057 445,094 (197) 444,897
121,795 131,228 100,862 68,221 63,147 58.049 44,157 39,003 36,917 30,888 34,050 11,025 33,340 20,348 14,348 149,225 956,603 (197) 956,406
Operating Expenses and Others/
Operating Expense and Others (70,212) (60,390) (57,205) (33,517) (26,150) (26,369) (24,755) (23,308) (43,436) (23.339) (35,404) (22.459) (20,479) (10,411) (12,277) (461,954) (951,665) 197 (951,468)
4,597 577 3.699 3,524 3,935 2,604 6,521 3.752 5,699 2.237 22 39 --
Financial Charges-Net (86) (806) (526) (117,628) (81,840) (81,840)
-- -- -- -- -- -- 176 -- -- --
Tax Burden/ Tax Expenses (4,923) (3,846) (1,242) (2,831) (2,244) (373) (37,163) (52,446) (52.446)
Profit (Loss) for the Period/
51,497 75,435 42.851 35,281 40,696 35,204 18,414 14,453 178 11.301 3.103 10.52 7.167 1,737 --
Profit (Loss) for the Period (9,197) (467,544) (129,372) (129,372)
1,779,871 1,344,225 1,471,893 887,598 837,251 1,148,435 168,509 555.580 226,632 1,300,943 262.890 437,750 305,959 119,065 94.146 8,628,200 -- 8,628,200
Segment Assets (2,312.547)
Segment Liability/
371.153 811,557 731,948 345210 418,453 657,083 277,768 1,175,067 323,685 135,804 27,451 17.032 2,805,507 -- 2,805,507
Segment Liabilities (90,401) (15,072) (4,795) (2,376,436)
Capital Goods Expenditure/
16,050 7,460 3.858 7.744 11,200 2.310 6.339 3.051 2,542 2.821 2.106 2.660 8.397 576 4.289 63,579 144,982 -- 144,982
Capital Expenditure
shrinkage/
29,440 22.168 22,213 11.826 10,150 11.202 10.002 8.753 9.972 16.076 12,115 7.554 8,603 6845 3.906 179,030 369,855 -- 369,855
Depreciation
Non-cash Expenses Other Than Depreciation/
48 66 106 16 80 17 8 15 -- 92 9 27 -- 7 9,797 10,260 -- 10,260

Non-Cash Expenses exclude Depreciation (28)
99

40. Accounting Standards and Interpretation of 40. New Accounting Standards and
Standards That Have Been Enacted But Not Yet Interpretation Standard has Issued Not
Effective Yet Effective
DSAK-IAI has published several DSAK-IAI has issued several new standards,
new standards, amendments and adjustments to amendments and improvement to standards, and
standards, as well as interpretations of standards interpretations of the standards but not yet effective
but not yet effective for the current period. for the current period.
The following standard amendments are effective for Amendments to standard effective for periods
period starting on or after 1 June 2020, with early beginning on or after June 1, 2020, with early adoption
application is permitted is:
allowed are:
• PSAK 73 (Amendment 2020): Leases regarding • PSAK 73 (Amendment 2020): Leases
Lease Concessions related to Covid-19. regarding Rent Concessions related to Covid-19.
New standards and amendments to standards that New standards and amendments to standards which
are effective for periods beginning on or after effective for periods beginning on or after January 1,
January 1, 2021, with early adoption are permitted, 2021, with early adoption is permitted, are as follows:
namely:
• PSAK 112: “Accounting for Waqf” • PSAK 112: “Accounting for Endowments”
• PSAK 22 (Amendment 2019): “Combination” • PSAK 22 (Amendment 2019): “Business Combinations
Business about Definition Business"; regarding Definition of Business”.
• PSAK 110 (Adjustment 2020): Accounting • PSAK 110 (Improvement Accounting for 2020):
Sukuk; Sukuk;
• PSAK 111 (Adjustment 2020): Wa'd Accounting; • PSAK 111 (Improvement 2020): Accounting for Wa'd;
and • Amendments to PSAK 71, Amendments and
• Amendment to PSAK 71, Amendment
PSAK 55, Amendment to PSAK 60, Amendment PSAK 55, Amendment PSAK 62, and Amendment
to PSAK 62 and Amendments PSAK 73 regarding Interest Rate Benchmark
PSAK 73 concerning Reform of Tribal Reference Reform - Phase 2.
Flowers - Stage 2.
Amendments to standards effective for periods Amendments to standards which effective for periods
beginning on or after beginning on or after January 1, 2022, with early
January 1, 2022, with early application allowed, adoption is permitted are as follows:
namely:
• Amendments to PSAK 22: Business Combination • Amendments to PSAK 22: Business Combinations
on Conceptual;References
and to the Framework regarding reference to Conceptual Frameworks;
and
• Amendments to PSAK 57: Provisions, Liabilities • Amendments to PSAK 57: Provisions,
Contingencies, and Contingent Assets regarding Contingent Liabilities, and Contingent Assets
Onerous Contracts - Costs of Fulfilling Contracts. regarding Aggregating Contracts
Fulfillment Costs.- Contract
The new standard which is effective for New standards which are effective for periods
period starting on or after beginning on or after January 1, 2025, with early
January 1, 2025, with early application allowed, adoption is permitted are as follows:
namely:
• PSAK 74: Insurance Contracts • PSAK 74: Insurance Contract
100

As of the authorization date of these consolidated Until the date of the consolidated financial
financial statements, the Group is still evaluating statements is authorized, the Group is still evaluating
the potential impact of the adoption of new the potential impact of the adoption of new
standards, amendments to standards and standards, amendments to standards and
interpretations of these standards. interpretations of these standards.
41. Account Reclassification 41. Reclassification of Accounts
Revenue and cost of revenue accounts in the Revenue and cost of revenue accounts in
consolidated statements of profit or loss and interim consolidated statements of profit or loss and
other comprehensive income other comprehensive income for the
interim for the 6 (six) month period ended 30 6 (six) months periods ended June 30, 2020
June 2020 reclassified were reclassified as an impact of the accounting
on the impact of changes in treatment treatment changes of revenue recognition -
accounting for recognition of expert fees (Note professional fee (Note 2y) to conform with
2y) to conform to the presentation for the 6 (six) presentation for the 6 (six) months periods ended
month period ended June 30, 2021, as follows: June 30, 2021 as follows:
June 30/ June 30, 2020

Before Reclassification/ Reclassification/ After Reclassification/
Before Reclassification Reclassification After Reclassification
Rp Rp Rp
Income and Income Statement Statement of Profit or Loss and
Other Comprehensive Other Comprehensive Income
Income 1,876,316 (662,644) 1,213,672 Revenue
Cost of Revenue (1,247.381) 662,644 (584,737) Cost of Revenue
This reclassification has no impact This reclassification does not have impact to the
on operating profit and total comprehensive profit from operation and total comprehensive
income for the 6 (six) month period ended June income for the 6 (six) months periods ended June
30, 2020 as previously reported. 30, 2020 as previously reported.
42. Responsibility and Authorization of Financial 42. Responsibility and Issues of The
Consolidated Statements Consolidated Financial Statements
issuance
Company Management is responsible for the The management of the Company is responsible
preparation and presentation of the Report for the preparation and presentation of the
consolidated finance. The consolidated financial consolidated financial statements. The
statements have been authorized
by thetoBoard
be issued
of consolidated financial statements were authorized
Directors on July 29, 2021. for issuance by Directors on
July 29, 2021.
101

FS SILO 30 June 2021-Updated

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PT SILOAM INTERNATIONAL HOSPITALS Tbk PT SILOAM INTERNATIONAL HOSPITALS Tbk

Interim Consolidated Financial Statements Interim Consolidated Financial Statements

Final Draft/28-Jul-21 Initials:

PT SILOAM INTERNATIONAL HOSPITALS Tbk PT SILOAM INTERNATIONAL HOSPITALS Tbk

List of contents Page/ Table of Contents

Board of Directors Statement Directors' Statement Letter

Interim Consolidated Financial Statements Interim Consolidated Financial Statements

Interim Consolidated Statement of Financial Position 1 Interim Consolidated Statements of Financial

Statement of Income and Comprehensive Income 2 Interim Consolidated Statements of Profit or

Interim Consolidated Statement of Changes in Equity 3 Interim Consolidated Statements of Changes in

Interim Consolidated Statement of Cash Flows 4 Interim Consolidated Statements of Cash

Notes to Financial Statements 5 Interim Notes to the Consolidated Financial

Final Draft/ 28-Jul-21 Initials:

PT SILOAM INTERNATIONAL HOSPITALS Tbk PT SILOAM INTERNATIONAL HOSPITALS Tbk

June 30/ 31 December/

NON-CURRENT ASSETS NON-CURRENT ASSETS

Other Non-Current Assets 11, 35 117.893 118,095 Other Non-Current Assets

TOTAL ASSETS 8,733.980 8,427,782 TOTAL ASSETS

Deferred Earnings on Deferred Gain on Sale and

LONG TERM LIABILITY NON-CURRENT LIABILITIES

TOTAL LIABILITY 2,632,539 2,409,411 TOTAL LIABILITIES

PT SILOAM INTERNATIONAL HOSPITALS Tbk PT SILOAM INTERNATIONAL HOSPITALS Tbk

Notes/ 2021 2020

COST OF INCOME 29, 39 (2,023,089) (1,556.701) COST OF REVENUE

GROSS PROFIT 1,788,415 956,406 GROSS PROFIT

Operating expenses 10, 30, 39 (1,150,514) (905,224) Operating Expenses

Other Expenses - Net 32 (144,085) (46,244) Others - Net

OPERATING PROFIT 493,816 4.938 PROFIT FROM OPERATION

Interest Earning 31 7,915 4,035 Interest Income

Tax expense 7.b (166.795) (52.446) Tax Expenses

OTHER COMPREHENSIVE INCOME OTHER COMPREHENSIVE INCOME

TOTAL COMPREHENSIVE PROFIT TOTAL COMPREHENSIVE INCOME

CURRENT PERIOD PROFIT PROFIT FOR THE PERIOD

Equity Attributable to Owners of the Parent Entity Interest Amount

with Change non-controlling/ reserve Appropriated use/

under common control/ Child entity/ in Value from

Difference in Difference in Value Transaction

Value from from Change in with

Transactions Equity Transaction Non-Controlling

162,576 5,641,373 5,608,921 -- -- 33,515 139,182 5,905.660 46,405 5,952,065

Changes in Equity for the Period 30 June 2020/

Changes in Equity for the Period June 30, 2020

BALANCE ON 30 June 2020/

162,576 5,641,373 5,608,921 -- -- 33,515 9.140 5,775.618 47,075 5,822,693

BALANCE ON JANUARY 1, 2021/

162,576 5,641,373 5,608,921 -- 33,515 246,319 5,962,763 55,608 6,018,371

Changes in Equity for the Period 30 June 2021/

Changes in Equity for the Period June 30, 2021

BALANCE AT 30 June 2021/

PT SILOAM INTERNATIONAL HOSPITALS Tbk PT SILOAM INTERNATIONAL HOSPITALS Tbk

NET INCREASE (DECREASE) NET INCREASE (DECREASE)

CASH AND CASH EQUIVALENTS

PT SILOAM INTERNATIONAL HOSPITALS Tbk PT SILOAM INTERNATIONAL HOSPITALS Tbk

1.a. Company Establishment 1.a. The Company's Establishment

PT SILOAM INTERNATIONAL HOSPITALS Tbk PT SILOAM INTERNATIONAL HOSPITALS Tbk

Limited Public Offering I On Limited Public Offering I

These additional shares were listed on the Indonesia

Limited Public Offering II On Limited Public Offering II

PT SILOAM INTERNATIONAL HOSPITALS Tbk PT SILOAM INTERNATIONAL HOSPITALS Tbk

1.c. Structure of the 1.c. The Group's Structure

Development, Trading, Industry,

PT SILOAM INTERNATIONAL HOSPITALS Tbk PT SILOAM INTERNATIONAL HOSPITALS Tbk