PT Sentul CityCity TbTbk.k.

EXPLORING A NEW ERA

LAPORAN TAHUNAN 2020 ANNUAL REPORT Daftar Isi Table of Contents

Ikhtisar Data Keuangan Penting 02 Tata Kelola Perusahaan 68 Financial Highlights Corporate Governance

Informasi Saham 04 Tanggung Jawab Sosial Perusahaan 86 Share Information Corporate Social Responsibility

Laporan Direksi 08 Laporan Keuangan Tahunan Yang 94 Report of the Directors Telah Diaudit Audited Annual Financial Statements Laporan Dewan Komisaris 12 Report of the Board of Commissioners Surat Pernyataan Anggota Direksi dan Anggota Dewan Komisaris Tentang Profil Perusahaan 16 Tanggung Jawab Atas Kebenaran Isi Company Profile Laporan Tahunan 2020 Statement of Members of the Board Fasilitas Pendukung 44 of Directors and Members of the Board Supporting Facilites of Commissioners Regarding the Responsibility for the Accuracy of the Analisis dan Pembahasan Manajemen 56 Information on Annual Report 2020 Management Discussion and Analysis Laporan Tahunan 2020 Annual Report 01

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Exploring A New Era

Sentul City is continuing its transformation and adapting rapidly to current changes in the modern property industry.

This is achieved through a transformation, starting from improving internal processes, then preparing competent human resources to master technology, to offering various services and products to its customers.

For Sentul City, transformation is essential when facing challenges to become a company that remains relevant and offers fast and flexible service solutions to its customers. 02 Laporan Tahunan 2020 Annual Report

Ikhtisar Data Keuangan Penting Financial Highlights

Hasil Usaha Dec 2020 Dec 2019 Dec 2018 Operating Result

Pendapatan Bersih 451,847 951,421 1,316,806 Net Revenue Laba Bruto 248,992 566,303 709,615 Gross Profit Laba (Rugi) Usaha (241,282) 237,268 541,019 Income from Operations Laba bersih yg diatribusikan kepada : Net income attribute to : Pemilik entitas induk (608,784) 49,505 335,872 Owners of the parent company Kepentingan Non-Pengendali 52,482 19,423 32,719 Non-controlling interest Laba Neto (556,302) 68,928 368,591 Net Income Laba komprehensif yg diatribusikan kepada : Comprehensive income attribute to : Pemilik entitas induk (608,876) 55,972 343,344 Owners of the parent company Kepentingan Non-Pengendali 52,482 19,423 32,719 Non-controlling interest Laba Komprehensif (556,393) 75,394 376,063 Comprehensive Income Jumlah Rata-rata Saham beredar (dalam jutaan) 67,084 55,259 55,259 Avr. Outstanding shares (in millions) Laba (Rugi) Usaha (3.60) 4.29 9.79 Income from Operation Laba (Rugi) Bersih per saham (9.35) 0.90 6.08 Net Income per shares

Posisi Keuangan Financial Positions

Aset 18,371,230 17,275,273 16,252,732 Assets Aset lancar 4,588,731 4,726,295 4,547,349 Assets Aset tidak lancar 13,782,499 12,548,977 11,705,383 Assets Liabilitas 8,121,131 6,578,350 5,631,607 Liabilities Bank 2,522,815 2,450,577 1,497,574 Bank Lainnya 5,598,316 4,127,773 4,134,033 Others Liabilitas jangka pendek 3,270,162 3,303,531 3,093,284 Others Liabilitas jangka panjang 4,850,969 3,274,819 2,538,322 Others Kepentingan Non-Pengendali 1,515,503 1,182,805 1,163,965 Minority Interest Ekuitas - Bersih 10,250,099 10,696,923 10,621,126 Stockholder's Equity - Net Rasio Pertumbuhan Growth Ratio

Pendapatan Bersih (%) (52.51) (27.75) (18.89) Net Revenue (%) Laba (Rugi) Usaha (%) (201.69) (56.14) (11.12) Income from Operations (%) Laba (Rugi) Bersih (%) (907.08) (81.30) (21.34) Net Income (%) Aset (%) 6.34 6.29 8.52 Assets (%) Ekuitas - Bersih (%) (4.18) 0.71 6.82 Equity (%) Rasio Keuangan Financial Ratio

Liabilitas terhadap Aset (%) 44.21 38.08 34.65 Liabilities to Assets (%) Liabilitas terhadap Ekuitas (%) 79.23 61.50 53.02 Liabilities to Equity (%) Laba Bruto/Pendapatan Bersih (%) 55.11 59.52 53.89 Gross Profit to Net Revenue (%) Laba Usaha/Pendapatan Bersih (%) (53.40) 24.94 41.09 Operating Profit to Net Revenue (%) Laba Komprehensif/Pendapatan Bersih (%) (123.14) 7.92 28.56 Comprehensive Income to Net Revenue (%) Laba Usaha/Ekuitas (%) (2.35) 2.22 5.09 Operating Profit to Equity (%) Laba Komprehensif/Ekuitas (%) (5.43) 0.70 3.54 Comprehensive Income to Equity (%) Laba Usaha/Aset (%) (1.31) 1.37 3.33 Operating Profit to Assets (%) Laba Komprehensif/Aset (%) (3.03) 0.44 2.31 Comprehensive Income to Assets (%) Aset Lancar/Liabilitas Lancar (%) 140.32 143.07 147.01 Current Asset to Current Liabilities (%) Angka-angka pada tabel dan grafik menggunakan notasi Inggris. Numerical denomination in all tables and graphs are in English. Dalam jutaan Rupiah kecuali laba bersih per saham dan rasio In million Rupiah, except for earnings per share and ratios. Laporan Tahunan 2020 Annual Report 03

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2020 2019 2018 2020 2019 2018

Ekuitas - Bersih Pendapatan Bersih Total Equity - Net Net Revenues (Miliar Rupiah / Billion Rupiah) (Miliar Rupiah / Billion Rupiah) 541 237 18,371 17,275

2020 2019 2018 16,253

2020 2019 2018 (241)

Laba Usaha Aset Income from Operations Assets (Miliar Rupiah / Billion Rupiah) (Miliar Rupiah / Billion Rupiah) 75 376 8,121

2020 2019 2018 6,578 5,632

2020 2019 2018 (556)

Laba Komprehensif Liabilitas Comprehensive Income Liabilities (Miliar Rupiah / Billion Rupiah) (Miliar Rupiah / Billion Rupiah) 04 Laporan Tahunan 2020 Annual Report

Informasi Saham Share Information

Tahun 2020 Year 2020

Harga Harga Harga Volume Saham Beredar Kapitalisasi Pasar Tahun Tertinggi Terendah Penutupan (lembar) Nilai (lembar)

Year Highest Price Lowest Price Closing Price Volume Value Outstanding Shares Market Capitalization (Rp) (Rp) (Rp) (share) (Rp) (share) (Rp)

Q1 87 50 50 3,834,206,000 244,841,184,800 67,083,560,732 3,354,178,036,600

Q2 62 50 50 3,511,484,200 183,649,132,800 67,083,561,082 3,354,178,054,100

Q3 50 50 50 143,310,900 7,165,545,000 67,083,561,082 3,354,178,054,100

Q4 64 50 50 11,420,080,200 616,850,182,000 67,083,561,082 3,354,178,054,100

Harga Tertinggi (Rp) Volume (lembar) Nilai (Rp) Highest Price (Rp) Volume (share) Value (Rp)

Q1 87 Q1 3,834,206,00 Q1 244,841,184,800

Q2 62 Q2 3,511,484,200 Q2 183,649,132,800

Q3 50 Q3 143,310,900 Q3 7,165,545,000

Q4 64 Q4 11,420,080,200 Q4 616,850,182,000

Harga Terendah (Rp) Saham Beredar (lembar) Kapitalisasi Pasar (Rp) Lowest Price (Rp) Outstanding Shares (share) Market Capitalization (Rp)

Q1 50 Q1 67,083,560,732 Q1 3,354,178,036,600

Q2 50 Q2 67,083,561,082 Q2 3,354,178,054,100

Q3 50 Q3 67,083,561,082 Q3 3,354,178,054,100

Q4 50 Q4 67,083,561,082 Q4 3,354,178,054,100

Harga Penutupan (Rp) Closing Price (Rp)

Q1 50

Q2 50

Q3 50

Q4 50 Laporan Tahunan 2020 Annual Report 05

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Tahun 2019 Year 2019

Harga Harga Harga Volume Saham Beredar Kapitalisasi Pasar Tahun Tertinggi Terendah Penutupan (lembar) Nilai (lembar)

Year Highest Price Lowest Price Closing Price Volume Value Outstanding Shares Market Capitalization (Rp) (Rp) (Rp) (share) (Rp) (share) (Rp)

Q1 147 105 107 7,846,351,300 974,957,410,100 55,258,659,456 5,912,676,561,792

Q2 138 99 128 6,179,066,900 748,222,247,300 55,258,659,456 7,073,108,410,368

Q3 156 113 115 6,744,654,000 894,862,035,500 55,258,665,079 6,354,746,484,085

Q4 124 65 85 8,607,131,700 843,766,924,400 55,258,666,481 4,696,986,650,885

Harga Tertinggi (Rp) Volume (lembar) Nilai (Rp) Highest Price (Rp) Volume (share) Value (Rp)

Q1 147 Q1 7,846,351,300 Q1 974,957,410,100

Q2 138 Q2 6,179,066,900 Q2 748,222,247,300

Q3 156 Q3 6,744,654,000 Q3 894,862,035,500

Q4 124 Q4 8,607,131,700 Q4 843,766,924,400

Harga Terendah (Rp) Saham Beredar (lembar) Kapitalisasi Pasar (Rp) Lowest Price (Rp) Outstanding Shares (share) Market Capitalization (Rp)

Q1 105 Q1 55,258,659,456 Q1 5,912,676,561,792

Q2 99 Q2 55,258,659,456 Q2 7,073,108,410,368

Q3 113 Q3 55,258,665,079 Q3 6,354,746,484,085

Q4 65 Q4 55,258,666,481 Q4 4,696,986,650,885

Harga Penutupan (Rp) Closing Price (Rp)

Q1 107

Q2 128

Q3 115

Q4 85 06

Laporan Manajemen Management Report

08 Laporan Tahunan 2020 Annual Report

Laporan Direksi Report of the Board of Directors

Bertumbuhnya kalangan menengah dan menengah atas merupakan pangsa pasar yang perlu mendapatkan perhatian serius dari Perseroan. Berkenaan dengan hal tersebut Perseroan akan terus mengembangkan berbagai fasilitas pendukung kawasan untuk menarik berbagai kalangan.

The growth of the middle and upper middle class is a market share that needs serious attention from the Company. In this regard, the Company will continue to develop various regional supporting facilities to attract various groups.

Tjetje Muljanto Presiden Direktur President Director Laporan Tahunan 2020 Annual Report 09

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Pemegang Saham Yang Terhormat. The Honorable Shareholders.

Puji dan Syukur kita panjatkan kehadirat Tuhan Yang Maha Esa karena berkat rahmat dan karunia-Nya, kita dapat melewati tahun 2020 yang penuh tantangan.

Bank Dunia menaikkan kelas Indonesia dari negara berpenghasilan menengah ke bawah (lower middle income country) menjadi negara berpenghasilan menengah atas (upper middle income country) mulai Juli 2020. Kenaikan kelas Indonesia menjadi negara berpenghasilan menengah ke atas versi Bank Dunia tersebut diharapkan mampu mendongkrak ketahanan ekonomi.

Pada saat merebaknya berita dari Bank Dunia tersebut, pemerintah Indonesia disibukan dengan penanganan dampak Covid 19 yang mewabah mulai akhir Triwulan I 2020. Pandemi Covid 19 telah menimbulkan ketidakpastian ekonomi dan bidang kehidupan lain yang berkepanjangan sehingga investasi melemah dan berimplikasi pada terhenti dan/atau menurunnya kegiatan usaha.

Dampak Covid 19 telah menyebabkan pelemahan ekonomi di sebagian besar Negara di berbagai belahan Dunia. Bagi Indonesia dampak Covid 19 sangat berat, hal tersebut dapat dilihat dan tercermin dari angka pertumbuhan ekonomi nasional tiga tahun terakhir, yaitu tahun

All praise and gratitude be upon the Almighty God because of His grace, we can go through 2020 which is full of challenges.

The World Bank raised Indonesia's class from a lower middle income country to an upper middle income country from July 2020. The raise in Indonesia's class to be an upper middle income country acording to the World Bank's version is expected to boost economic resilience.

At the time of the spread of news from the World Bank, the Indonesian government was preoccupied with handling the impact of Covid-19 which started at the end of the first quarter of 2020. The Covid-19 pandemic has caused prolonged economic uncertainty and other areas of life so that the investment weakens and it implicates in the ceased and/or decreased business activities.

The impact of Covid-19 has caused an economic downturn in most countries in various parts of the world. Indonesia is very seriously affected by Covid-19. This can be seen and reflected in the national 10 Laporan Tahunan 2020 Annual Report

Laporan Direksi Report of the Board of Directors

2018 sebesar 5,17 %, tahun 2019 sebesar 5,02 % dan economic growth rate for the last three years, namely tahun 2020 sebesar minus 2,07 %. 2018 at 5.17%, 2019 at 5.02% and 2020 at minus 2.07%.

Perseroan sebagai salah satu perusahaan properti The company, as one of the property companies yang berada di wilayah Jabodetabek tepatnya di located in the area of Greater Jakarta, exactly in the selatan Jakarta merasakan sangat beratnya dampak south of Jakarta, has felt the severity of the impact Covid 19. Meskipun hampir semua perusahaan of Covid-19. Although almost all companies have merasakan dampak Covid dan pemerintah telah felt the impact of Covid and the government has membuat berbagai kebijakan untuk meringankan, made various policies to alleviate it, Covid still has dampak Covid masih signifikan. a significant impact.

Di tengah ketidakpastian ekonomi yang In the midst of prolonged economic uncertainty and berkepanjangan dan melemahnya ekonomi global, the weakening global economy, consistency in konsistensi dalam menerapkan strategi untuk implementing strategies to sustain and develop mempertahankan dan mengembangkan usaha business is very important. To manage and develop merupakan hal yang sangat penting. Untuk the Sentul City area, the Company chooses mengelola dan mengembangkan kawasan Sentul sustainable policies that are expected to have a City, Perseroan memilih kebijakan yang berkelanjutan positive impact on society in relation to economic, yang diharapkan membawa dampak positif untuk environmental or social aspects. masyarakat baik terkait aspek ekonomi, lingkungan hidup ataupun sosial.

Mengelola usaha di bidang properti di tengah Managing a business in the property sector amidst ketidakpastian ekonomi dan melemahnya ekonomi the economic uncertainty and the weakening global global akibat pandemi Covid 19 merupakan hal yang economy due to the Covid-19 pandemic is not easy. tidak mudah. Hal tersebut mengingat investor lebih This is because investors prefer waiting for the memilih untuk menunggu keadaan begitu juga situation, and so do the consumers. In connection dengan konsumen. Sehubungan dengan hal-hal with these matters, it is natural if the Company's tersebut wajar bilamana kinerja keuangan Perseroan financial performance is not encouraging. tidak menggembirakan. Meskipun begitu Perseroan Nevertheless, the Company remains consistent in tetap konsisten pada sisi pengelolaan lingkungan, terms of environmental management, which is yang diharapkan berdampak baik untuk kesehatan expected to have a good impact on the health of the warga sekitar Perseroan beroperasi. surrounding residents where the Company operates.

Memperhatikan data pasokan hunian-rumah tinggal Taking into account the data on the supply of yang jumlahnya jauh lebih kecil dibandingkan dengan housing, which has smaller number than the demand permintaan dan bertumbuhnya kalangan menengah and growth of the middle class who need housing yang membutuhkan hunian - rumah tinggal baik - both landed houses and apartments, the Company rumah tapak ataupun apartemen, Perseroan optimis is optimistic that the property business outlook in bahwa prospek usaha properti pada tahun 2021 2021 will be quite good. akan cukup baik.

Bertumbuhnya kalangan menengah dan menengah The growth of the middle and upper middle class atas merupakan pangsa pasar yang perlu is a market share that needs serious attention from mendapatkan perhatian serius dari Perseroan. the Company. In this regard, the Company will Berkenaan dengan hal tersebut Perseroan akan terus continue to develop various regional supporting mengembangkan berbagai fasilitas pendukung facilities to attract various groups. kawasan untuk menarik berbagai kalangan.

Mempertahankan pelanggan setia dan menyasar Maintaining loyal customers and targeting young kalangan muda-milenial akan terus diupayakan millennials will continue to be pursued along with Laporan Tahunan 2020 Annual Report 11

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bersamaan dengan pemasaran produk apartemen. the marketing of apartment products. The use of Penggunaan teknologi pada sistem pemasaran technology in a product marketing system is one produk adalah salah satu hal yang akan ditingkatkan thing that will be improved from time to time. Apart dari waktu ke waktu. Selain dari pada itu Perseroan from that, the Company will continue and strengthen akan melanjutkan dan memperkuat kemitraan strategic partnerships. strategis.

Komitmen Perseroan untuk terus menerapkan aspek, The Company's commitment to continue prinsip dan rekomendasi tata kelola perusahaan implementing the aspects, principles and yang baik akan terus ditingkatkan untuk memenuhi recommendations of good corporate governance ketentuan yang berlaku dan sekaligus untuk will continue to be improved to meet the applicable meningkatkan kepercayaan pemangku kepentingan. regulations and at the same time to increase stakeholder trust.

Berdasarkan Rapat Umum Pemegang Saham Based on the General Meeting of Shareholders of Perseroan pada 14 Oktober 2020, susunan Direksi the Company on 14 October 2020, the composition Perseroan sebagai berikut, saya, Tjetje Muljanto, of the Company's Board of Directors is as follows, Bapak Iwan Budiharsana dan Bapak Richard Susilo. I, Tjetje Muljanto, Mr. Iwan Budiharsana and Mr. Richard Susilo.

Sebagai penutup, Direksi Perseroan mengucapkan In conclusion, the Board of Directors of the Company terima kasih yang sebesar-besarnya kepada seluruh would like to express its deepest gratitude to all pemegang saham, Dewan Komisaris, Karyawan, shareholders, the Board of Commissioners, Mitra Usaha, dan Pelanggan. Semoga Tuhan Yang Employees, Business Partners and Customers. May Maha Esa selalu melimpahkan berkat dan rahmat- the Almighty God always bestow His blessings and Nya kepada kita semua. mercy on all of us.

Atas nama Direksi, On behalf of the Board of Directors

Tjetje Muljanto Presiden Direktur President Director 12 Laporan Tahunan 2020 Annual Report

Laporan Dewan Komisaris Report of the Board of Commissioners

Berkenaan dengan prospek usaha Perseroan, Dewan Komisaris meyakini bahwa prospek usaha properti pada tahun mendatang akan lebih baik mengingat data pasokan hunian-rumah tinggal yang jumlahnya jauh lebih kecil dibandingkan dengan permintaan.

With regard to the Company's business prospect, the Board of Commissioners is convinced that the future prospect of the property business will be moving forward given the data concerning supply of residential settlement in number much lesser compared to the demands.

Basaria Panjaitan Presiden Komisaris President Commissioner Laporan Tahunan 2020 Annual Report 13

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Pemegang Saham Yang Terhormat. The Honorable Shareholders.

Puji dan Syukur kita panjatkan kehadirat Tuhan Yang Maha Esa karena berkat rahmat dan karunia-Nya kita dapat melewati tahun 2020, yang penuh tantangan.

Covid 19 yang mewabah mulai akhir Triwulan I 2020, telah memukul dan menekan perekonomian nasional dan bidang kehidupan lain. Bagi Indonesia dampak Covid 19 sangat berat, hal tersebut dapat dilihat dan tercermin dari angka pertumbuhan ekonomi nasional tahun 2018 sebesar 5,17 %, tahun 2019 sebesar 5,02 % dan tahun 2020 sebesar minus 2,07 %.

Dewan Komisaris melihat kondisi pasar properti sepanjang tahun 2020 sangat tidak mudah sebagai dampak pandemi Covid 19. Berkenaan dengan hal tersebut Dewan Komisaris memahami kebijakan yang dipilih Direksi untuk tidak melakukan promosi secara besar besaran terkait produk Perseroan.

Kinerja keuangan Perseroan pada tahun yang baru berakhir jauh dari memuaskan hal tersebut tidak terlepas dari dampak Covid 19,

Praise and thanks to God for the blessings and mercies that we have finally passed the year 2020 which was full of challenges.

The Covid-19 pandemic situation, which began from the end of Quarter I 2020, has severely hit and affected national economy and other areas of life. For Indonesia, the impact of Covid-19 is so severe as seen and reflected from the figures of national economic growth for the year 2018 by 5,17 %, year 2019 by 5,02 % and year 2020 by minus 2,07 %.

The Board of Commissioners saw the property market condition throughout the year 2020 as uneasy due to Covid-19 pandemic. In light of this, the Board of Commissioners understands the policy selected by the Board of Directors not to organize massive promotion campaigns for the to Company's products.

The Company's Financial Performance for the year which just ended is far from satisfactory also due to the impact of Covid-19 pandemic 14 Laporan Tahunan 2020 Annual Report

Laporan Dewan Komisaris Report of the Board of Commissioners

meskipun begitu Dewan Komisaris mengakui dan situation, in spite of this, the Board of Commissioners menghargai kerja keras Direksi Perseroan. admit and appreciate the hard work of the Board of Directors.

Berkenaan dengan prospek usaha Perseroan, Dewan With regard to the Company's business prospect, Komisaris meyakini bahwa prospek usaha properti the Board of Commissioners is convinced that the pada tahun mendatang akan lebih baik mengingat future prospect of the property business will be data pasokan hunian-rumah tinggal yang jumlahnya moving forward given the data concerning supply jauh lebih kecil dibandingkan dengan permintaan. of residential settlement in number much lesser Selain dari pada itu kebijakan pemerintah terkait compared to the demands. In addition, the Percepatan Penyelenggaraan Kereta Api Ringan atau government policy related to Acceleration of Light Rail Transit Terintegrasi Di Wilayah Jakarta, Integrated Light Rail Transit in Jakarta, Bogor, Depok Bogor, Depok dan Bekasi dan telah dibukanya AEON and Bekasi Areas and the opening of AEON MALL MALL di kawasan Sentul City, akan memberikan at kawasan Sentul City, will bring significantly positive dampak positif yang signifikan kinerja bagian impact on the performance of marketing department pemasaran di tahun mendatang. in the years to come.

Berkenaan dengan tata kelola perusahaan Dewan With respect to the corporate governance, the Board Komisaris memberikan perhatian serius terkait of Commissioners paid serious attention to the penerapan aspek, prinsip dan rekomendasi tata implementation of aspects, principles and kelola Perusahaan yang baik, sebagaimana diatur recommendations for good corporate governance dalam Peraturan Otoritas Jasa Keuangan Nomor as set forth in Financial Services Authority Regulation 21/POJK.04/2015 dan Surat Edaran Otoritas Jasa Number 21/FSA Regulation.04/2015 and Financial Keuangan Nomor 32/SEOJK.04/2015. Services Authority Circular Letter Number 32/SEOJK.04/2015.

Komite Audit sebagaimana diatur dalam POJK Nomor Audit Committee as set forth in FSA Regulation : 55/POJK.04/2015, telah melaksanakan tugas dan Number: 55/FSA Regulation.04/2015 has performed tanggung jawabnya dengan baik. Komite Audit the duties and responsibilities satisfactorily. The Perseroan juga telah melakukan Penelaahan atas Company's Audit Committee has also reviewed the Laporan Keuangan Perseroan 2020, yang diaudit Company's Financial Statement for the year 2020, oleh Kantor Akuntan Publik Tanubrata Sutanto Fahmi audited by Public Accountant Office Tanubrata Bambang & Rekan, sesuai ketentuan Pernyataan Sutanto Fahmi Bambang & Rekan, in accordance Standar Akuntansi Keuangan dan ketentuan pasar with Finance Accounting Standard and capital market modal yang berlaku. regulation.

Rapat Umum Pemegang Saham Luar Biasa The Extraordinary General Meeting of Shareholders Perseroan pada tanggal 14 Oktober 2020, merubah of the Company on 14 October 2020 changed the susunan Dewan Komisaris Perseroan, sehingga composition of the Company's Board of susunan Dewan Komisaris Perseroan sebagai Commissioners with the following members: Basaria berikut, saya Basaria Panjaitan, Bapak Jonnardi dan Panjaitan, Bapak Jonnardi and Bapak Sumarsono. Bapak Sumarsono.

Sebagaimana diatur dalam POJK Nomor As set forth in FSA Regulation Number 33/FSA 33/POJK.04/2014 dan anggaran dasar Perseroan, Regulation.04/2014 and the Company's Articles of pelaksanaan Rapat yang tertib merupakan wujud Association, an orderly meeting is a realization of tata kelola. Berkenaan dengan hal tersebut Rapat governance. In this matter, meeting of the Board of Laporan Tahunan 2020 Annual Report 15

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Dewan Komisaris bersama dengan Direksi Commissioners with the Board of Directors is offers merupakan kesempatan yang baik bagi Dewan a good opportunity for the Board of Commissioners Komisaris ataupun Direksi untuk bertukar informasi, or Board of Directors to exchange information, to berdiskusi, memberikan arahan dan nasihat dalam discuss, to provide direction and advice in rangka mencapai tujuan Perseroan. accomplishing the Company's objectives.

Dewan Komisaris dalam memberikan masukan dan The Board of Commissioners expresses its opinions nasihat kepada Direksi tidak terbatas pada saat and recommendations to the Board of Directors, rapat tetapi juga di luar rapat baik diminta ataupun not only at the meeting but also outside the meeting, tidak diminta oleh Direksi. both requested and not requested by the Board of Directors.

Sebagai penutup Dewan Komisaris Perseroan In conclusion, the Company's Board of mengucapkan terima kasih yang sebesar-besarnya Commissioners wishes to thank all Shareholders, kepada seluruh Pemegang Saham, Direksi, Board of Directors, Employees, Business Partners Karyawan, Mitra Usaha dan Pelanggan, semoga and Customers, May God Bless us all. Tuhan Yang Maha Esa selalu melimpahkan berkat dan rahmat Nya kepada kita semua.

Atas nama Dewan Komisaris, On behalf of the Board of Commissioners

Basaria Panjaitan Presiden Komisaris President Commissioner 16

Profil Perusahaan Company Profile

PT. Sentul City Tbk (Perseroan) Kantor Pusat/Head Office Gedung Menara Sudirman Lantai 25, 27 Jl. Jend. Sudirman Kav. 60 Jakarta 12190, Indonesia Phone : +62 21 522 6877 Fax : +62 21 522 6818

Kantor Operasional/Operations Office Sentul City Building Jl. MH. Thamrin Kav. 8 Sentul City, Bogor 16811 Indonesia Phone : +62 21 8792 6555 Fax : +62 21 8792 6565

Email : [email protected] Website : www.sentulcity.co.id

18 Laporan Tahunan 2020 Annual Report

Riwayat Singkat Perseroan History of the Company

Perseroan didirikan dengan nama PT Sentragriya The Company was incorporated under the name of Kharisma, berdasarkan Akta No. 311 tanggal 16 April PT Sentragriya Kharisma by Deed No. 311 dated April 1993 yang dibuat dihadapan Misahardi Wilamarta, 16, 1993 drawn up before Misahardi Wilamarta, SH, SH, Notaris di Jakarta dan telah mendapat Notary in Jakarta, which Deed was approved by the pengesahan dari Menteri Kehakiman Republik Minister of Justice of the Republic of Indonesia Indonesia dengan Keputusan Nomor C2- pursuant to Decree No. C2-4350.HT.01.01.TH.93 4350.HT.01.01.TH.93 tanggal 8 Juni 1993, didaftarkan dated June 8, 1993, and registered with the South di Kantor Pengadilan Negeri Jakarta Selatan di bawah Jakarta District Court No.552/A.PT/HKM/ No.552/A.PT/ HKM/1993/PN.JAK.SEL tanggal 24 Juni 1993/PN.JAK.SEL dated June 24, 1993 and announced 1993 serta telah diumumkan dalam Berita Negara in the State Gazette of the Republic of Indonesia Republik Indonesia No. 65 tanggal 13 Agustus 1993, No. 65 dated August 13, 1993, Supplement No. 3693. Tambahan No. 3693.

Pada tanggal 9 Agustus 1993, Perseroan melakukan On August 9, 1993 the Company changed its name perubahan nama dari PT Sentragriya Kharisma from PT Sentragriya Kharisma to PT Royal Sentul menjadi PT Royal Sentul Highlands, sebagaimana Highlands by Deed No. 27 dated August 9, 1993 dinyatakan dalam Akta No. 27 tanggal 9 Agustus made drawn up before Dr. Widjojo Wilami, SH, 1993 yang dibuat dihadapan Dr. Widjojo Wilami, SH, Notary in Jakarta. This Deed was approved by the Notaris di Jakarta. Akta ini telah mendapat Minister of Justice of the Republic of Indonesia persetujuan dari Menteri Kehakiman Republik pursuant to Decree No. C2-2518 HT.01.04.Th.94 dated Indonesia dengan Surat Keputusan No. C2-2518 February 16, 1994. HT.01.04.Th.94 tanggal 16 Pebruari 1994.

Dalam rangka penawaran umum sekaligus For the purpose of conducting public offering and penyesuaian dengan Undang-undang Perseroan as compliance with Indonesian Company Law the Terbatas, anggaran dasar Perseroan telah diubah Company's Articles of Association have been seluruhnya dengan Akta No. 42 tanggal 7 Mei 1997 amended by Deed No. 42 dated May 7, 1997 drawn yang dibuat dihadapan Ny. Poerbaningsih Adi up before Ny. Poerbaningsih Adi, SH, Notary in Warsito, SH, Notaris di Jakarta. Nama Perseroan Jakarta. The name of Company changed to PT Royal berubah menjadi PT Royal Sentul Highlands Tbk Sentul Highlands Tbk was approved by the Minister yang telah mendapat persetujuan Menteri of Justice of the Republic of Indonesia pursuant to Kehakiman Republik Indonesia dengan Surat Decree No.HT.01.04. Th. 97 C2-3643 dated May 12, Keputusan No. C2-3643 HT.01.04.Th.97 tanggal 12 1997 and was announced in the State Gazette of Mei 1997 dan telah diumumkan dalam Berita Negara the Republic of Indonesia No.71 dated 5 September Republik Indonesia No. 71 tanggal 5 September 1997, 1997, Supplement No. 3842. Tambahan No. 3842.

Pada tanggal 30 Juni 1997, berdasarkan pernyataan On June 30, 1997 based on the effective statement efektif dari Ketua Bapepam dengan surat No. S- from the Chairman of Bapepam pursuant to Letter 1511/PM/1997, Perseroan melakukan Penawaran No.S-1511/PM/1997 the Company conducted an Initial Saham Perdana (IPO) kepada masyarakat atas Public Offering (IPO) of 400,000,000 Series A shares 400.000.000 saham Seri A dengan harga with a nominal value of Rp.500, - (five hundred penawaran Rp. 500,- (lima ratus rupiah) per saham, rupiah) per share with the proceeds of offering is sehingga mendapatkan dana hasil IPO Rp. Rp. 200,000,000,000 (two hundred billion rupiah). 200.000.000.000,- (dua ratus milyar rupiah). These shares were listed on the Jakarta Stock Saham-saham tersebut dicatatkan di Bursa Efek Exchange (JSX) and the Surabaya Stock Exchange Jakarta (BEJ) dan Bursa Efek Surabaya (BES) pada (BES) on July 28, 1997. tanggal 28 Juli 1997.

Selanjutnya sebagaimana dinyatakan dalam Akta By Deed No. 26 dated December 11, 1997 drawn up No. 26 tanggal 11 Desember 1997 yang dibuat before Ny. Poerbaningsih Adi, SH, Notary in Jakarta, Laporan Tahunan 2020 Annual Report 19

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dihadapan Ny. Poerbaningsih Adi Warsito, SH, the Company changed its name to PT Bukit Sentul Notaris di Jakarta, nama Perseroan diubah menjadi Tbk. The Deed was approved by the Minister of PT Bukit Sentul Tbk. Akta ini telah mendapat Justice of the Republic of Indonesia pursuant to persetujuan Menteri Kehakiman Republik Indonesia Decree No. C2-33 HT.01.04.Th.98 dated January 14, dengan Surat Keputusan No. C2-33 HT.01.04.Th.98 1998. tanggal 14 Januari 1998.

Pada tanggal 29 Juli 1999, Perseroan telah On July 29, 1999 the Company was granted approval memperoleh pengesahan RUPSLB serta pernyataan by the Extraordinary General Meeting of efektif dari Ketua Bapepam sesuai Surat Keputusan Shareholders and obtained the effective statement No. S-1379/PM/1999, untuk melakukan Penawaran from the Chairman of Bapepam pursuant to Letter Umum Terbatas I (PUT I) dengan Hak Memesan No. S-1379/PM/1999 to conduct Right Issue I (PUT Efek Terlebih Dahulu atas sejumlah 4.004.000.000 I) with Pre-emptive Rights of 4,004,000,000 (four (empat milyar empat juta) saham Seri B. Harga billion four million) Series B shares at an offering penawaran adalah Rp. 200,- (dua ratus rupiah) per price of Rp. 200, - (two hundred rupiah) per share saham, sehingga total dana hasil PUT I yang with the proceeds of the Right Issue I totally Rp. diperoleh Perseroan adalah sebesar Rp. 800,800,000,000 - (eight hundred billion eight 800.800.000.000,- (delapan ratus milyar delapan hundred million rupiah). The shares were listed on ratus juta rupiah). Saham-saham tersebut dicatatkan JSX and SSX on August 3, 1999. di BEJ dan BES pada tanggal 3 Agustus 1999.

Perseroan kemudian melakukan perubahan nama The Company changed its name once again to PT sekali lagi menjadi PT Sentul City Tbk, sebagaimana Sentul City Tbk, by Deed No. 26 dated July 19, 2006 dinyatakan dalam Akta No. 26 tanggal 19 Juli 2006 drawn up before Fathiah Helmi, SH, Notary in Jakarta, yang dibuat dihadapan Fathiah Helmi, SH, Notaris which deed was approved by the Minister of Law di Jakarta, yang telah mendapat persetujuan Menteri and Human Rights of the Republic of Indonesia on Hukum dan Hak Asasi Manusia Republik Indonesia July 20, 2006 pursuant to Decree No.C2-21373 pada tanggal 20 Juli 2006 dengan Keputusan No. HT.01.04.TH.2006. C2-21373 HT.01.04.Th.2006.

Perseroan kembali melakukan penawaran atas On September 8, 2006 the Company offered its saham-sahamnya pada tanggal 8 September 2006, shares, through Right Issue II of 8,151,000,000 (eight melalui Penawaran Umum Terbatas II atas billion one hundred fifty one million) Series C shares 8.151.000.000 (delapan miliar seratus lima puluh with a nominal value of Rp.100 (one hundred rupiah) satu juta) saham Seri C dengan harga nominal Rp. per share. The shares were listed on the Jakarta 100,- (seratus rupiah) per saham. Saham-saham Stock and Surabaya Stock Exchange on September tersebut dicatatkan di Bursa Efek Jakarta (BEJ) dan 22, 2006. Bursa Efek Surabaya (BES) pada tanggal 22 September 2006.

Perseroan telah menyesuaikan anggaran dasarnya The Company has amended its Articles of dengan Undang-undang Perseroan Terbatas Association in compliance with the new Corporation berdasarkan Akta tertanggal 15 Januari 2009, nomor Code through its Deed No. 1 on January 15, 2009, 1, yang dibuat oleh Sherley Ikawati Tambunan, SH., created by Sherley Ikawati Tambunan, SH., a Notary Notaris di Kabupaten Bogor, yang telah mendapat in the Bogor District and has been approved by the persetujuan dari Menteri Hukum dan Hak Asasi Minister of Law and Human Rights of the Republic Manusia Republik Indonesia, sebagaimana ternyata of Indonesia, as stated in the Letter of Approval of dari surat Keputusan Menteri Hukum dan Hak Asasi the Minister of Law and Human Rights of the Manusia Republik Indonesia tertanggal 29 Juli 2009, Republic of Indonesia, dated July 29, 2009, No. nomor AHU-36025.AH.01.02.Tahun 2009. AHU-36025.AH.01.02.Th.2009. 20 Laporan Tahunan 2020 Annual Report

Riwayat Singkat Perseroan History of the Company

Pada tanggal 8 September 2009, Rapat Umum On September 8, 2009, the Extraordinary General Pemegang Saham Luar Biasa menyetujui Meeting of Shareholders of the Company approved peningkatan modal ditempatkan dan modal disetor to increase the issued and paid-up capital of the Perseroan Tanpa Hak Memesan Efek Terlebih Dahulu Company without Preemptive Rights to menjadi Rp.1.981.250.859.800, sesuai akta Berita Rp.1,981,250,859,800 in accordance with the Minutes Acara Rapat Umum Pemegang Saham Luar Biasa of Extraordinary General Meeting of Shareholders PT Sentul City Tbk, Nomor 1, tanggal 08 September of PT SENTUL CITY Tbk Number 1 dated September 2009, yang dibuat oleh Widijono, SH., MM., Notaris 8, 2009 drawn up before Widijono, SH., MM., Notary di Kabupaten Bogor, akta mana telah diterima oleh in Bogor Regency, which Deed was received by the Departemen Hukum dan Hak Asasi Manusia Republik Ministry of Justice and Human Rights of the Republic Indonesia, Direktorat Jenderal Administrasi Hukum of Indonesia, Directorate General of General Law Umum sesuai surat tertanggal 14 Oktober 2009, Administration in accordance letter dated October Nomor : AHU-AH.01.10-17742, Perihal Penerimaan 14, 2009 Number: AHU-AH.01.10-17742 on the Pemberitahuan Perubahan Anggaran Dasar PT Receipt of Notice of Amendment to Articles of Sentul City Tbk. Association of PT Sentul City Tbk.

Pada tanggal 29 Desember 2009, Perseroan On December 29, 2009, the Company was granted memperoleh persetujuan Rapat Umum Pemegang approval by the General Meeting of Shareholders Saham Luar Biasa untuk melakukan Penawaran Extraordinary to conduct Right Issue III with Pre- Umum Terbatas III dengan Hak Memesan Efek emptive Rights of 15,025,512,897 Series C shares Terlebih Dahulu sejumlah 15.025.512.897 saham seri with a nominal value of Rp 100 per share or totally C dengan nilai nominal Rp.100 atau seluruhnya Rp.1,502,551,289,700 in accordance with the Deed Rp.1.502.551.289.700, sesuai Akta Berita Acara Rapat of Minutes of Extraordinary General Meeting of Umum Pemegang Saham Luar Biasa PT Sentul City Shareholders of PT Sentul City Tbk, No. 122 dated Tbk, Nomor 122, tanggal 29 Desember 2009, yang December 29, 2009 drawn up by Dr. Misahardi dibuat oleh Dr Misahardi Wilamarta, SH., M.H., M.Kn., Wilamarta, SH., MH, M.Kn., LLM., Notary in Jakarta. LLM., Notaris di Jakarta. Berkaitan dengan Akta The Minutes of Extraordinary General Meeting of Berita Acara Rapat Umum Pemegang Saham Luar Shareholders was restated in Deed of Resolutions Biasa tersebut dibuat Akta Pernyataan Keputusan of General Meeting of Shareholders of PT SENTUL Rapat PT Sentul City Tbk, Nomor 54, tangal 28 Januari CITY Tbk No. 54 dated January 28, 2010 drawn up 2010, oleh Notaris yang sama, akta mana telah before the same notary and the Deed was submitted disampaikan ke Kementerian Hukum Dan Hak Asasi to the Ministry of Justice and Human Rights of the Manusia Republik Indonesia Direktorat Jenderal Republic of Indonesia, Directorate General of General Administrasi Hukum Umum sesuai surat tertanggal Law Administration pursuant to letter dated February 10 Februari 2010, Nomor : AHU-AH.01.10-3485, 10, 2010 No. AHU-AH.01.10 3485 on Receipt of Notice perihal Penerimaan Pemberitahuan Perubahan of Amendment to the Articles of Association of PT Anggaran Dasar PT Sentul City Tbk. Sentul City Tbk.

Berdasarkan Akta Pernyataan Keputusan Rapat PT Based on Deed of Shareholders' Resolution of PT Sentul City Tbk, nomor 93, tanggal 15 Februari 2010, Sentul City Tbk, Number 93 dated February 15, 2010 yang dibuat oleh Dr Misahardi Wilamarta, SH., M.H., which was drawn up before Dr. Misahardi Wilamarta, M.Kn., LLM., Notaris di Jakarta, Perseroan telah SH., MH, M.Kn., LLM., Notary in Jakarta, the Company menyesuaikan anggaran dasarnya dengan Peraturan amended its articles of association to comply with Badan Pengawas Pasar Modal dan Lembaga the Capital Market and Financial Institution Keuangan (BAPEPAM dan LK), nomor IX.J.1, lampiran Supervisory Agency Regulations (Bapepam-LK) Keputusan Ketua BAPEPAM dan LK nomor Kep- number IX.J.1, attachment of the Decision of 179/BL/2008, tanggal 14 Mei 2008, tentang Pokok- Chairman of Bapepam-LK Number Kep- Pokok Anggaran Dasar Perseroan Yang Melakukan 179/BL/2008 dated May 14, 2008 on the Principles Penawaran Umum Efek Bersifat Ekuitas Dan of the Articles of Association of Companies Perusahaan Publik, akta mana telah diterima oleh Conducting Equity Securities Public Offering and Kementerian Hukum dan Hak Asasi Manusia Public Companies, which Deed was received by the Republik Indonesia, Direktorat Jenderal Administrasi Ministry of Justice and Human Rights of the Republic Hukum Umum sesuai surat tertanggal, 05 Maret of Indonesia, Directorate General of General Law 2010, Nomor AHU-AH.01.10-05577, Perihal Administration pursuant to Letter dated March 5, Laporan Tahunan 2020 Annual Report 21

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Penerimaan Pemberitahuan Perubahan Anggaran 2010, No. AHU-AH.01.10-05 577 regarding Receipt Dasar PT Sentul City Tbk. of Notice of Amendment to the Articles of Association of PT Sentul City Tbk.

Perseroan pada tanggal 9 Maret 2010, telah On March 9, 2010 the Company was granted memperoleh persetujuan Rapat Umum Pemegang approval from the Extraordinary General Meeting Saham Luar Biasa untuk meningkatkan Modal Dasar of Shareholders to increase the authorized capital Perseroan menjadi Rp.13.500.000.000.000,- yang of the Company to Rp.13,500,000,000,000 dimuat dalam Akta Pernyataan Keputusan Rapat PT pursuant to Deed of Shareholders' Resolutions of Sentul City Tbk, Nomor 36, tanggal 9 Maret 2010, PT Sentul City Tbk, Number 36 dated March 9, 2010 yang dibuat oleh Dr Misahardi Wilamarta, SH., M.H., drawn up by Dr. Misahardi Wilamarta, SH., MH, M.Kn., M.Kn., LLM., Notaris di Jakarta, Akta mana telah LLM., Notary in Jakarta, which deed was approved mendapat persetujuan Menteri Hukum dan Hak by the Minister of Law and Human Rights of the Asasi Manusia Republik Indonesia pada tanggal 05 Republic of Indonesia on April 5, 2010 pursuant to April 2010 dengan Keputusan No. AHU- Decree No.AHU-16924.AH.01.02.Th.2010. 16924.AH.01.02.Th.2010.

Sesuai Akta tertanggal 24 September 2010, Nomor By Deed dated 24 September 2010 Number 36 36, yang dibuat Stephanie Wilamarta, SH., Notaris drawn up before Stephanie Wilamarta, SH., Notary di Jakarta, yang telah diterima dan dicatat oleh in Jakarta, which was accepted and registered with Kementerian Hukum dan Hak Asasi Manusia the Ministry of Justice and Human Rights of the Republik Indonesia, sebagaimana ternyata dari surat Republic of Indonesia pursuant to the Receipt of Penerimaan Pemberitahuan Perubahan Anggaran Notice of Amendment to the Articles of Association Dasar PT Sentul City Tbk, tertanggal 7 Oktober 2010 of PT Sentul City, Tbk, dated October 7, 2010 Number nomor AHU-AH.0110-25389, setelah pelaksanaan AHU-AH.0110 2010-25389 after the execution of first waran seri I, modal ditempatkan dan modal disetor warrant the Company's issued and paid-up capital Perseroan menjadi Rp.3.833.840.501.000,- was increased to Rp.3,833,840,501,000.

Perseroan pada tanggal 3 Agustus 2011, telah On August 3, 2011 the Company was granted approval memperoleh persetujuan Rapat Umum Pemegang from the Extraordinary General Meeting of Saham Luar Biasa untuk meningkatkan madal Shareholders to increase its subscribed and paid in ditempatkan dan modal disetor Perseroan, melalui Capital Without Preemptive Rights to Penambahan Modal Tanpa Hak Memesan Efek Rp.4,119,240,501,000, pursuant to the Deed of Terlebih Dahulu, menjadi Rp.4.119.240.501.000,- Shareholders' Resolutions of PT Sentul City Tbk., sebagaimana dimuat dalam Akta Pernyataan Number 49 dated August 22, 2011 which was drawn Keputusan Rapat PT Sentul City Tbk, Nomor 49, up before Dr. Misahardi Wilamarta, SH., MH, M.Kn., tanggal 22 Agustus 2011, yang dibuat oleh Dr LLM., Notary in Jakarta, which Deed was accepted Misahardi Wilamarta, SH., M.H., M.Kn., LLM., Notaris and registered with the Ministry of Justice and Human di Jakarta, Akta mana telah diterima dan dicatat Rights of the Republic of Indonesia pursuant to the oleh Kementerian Hukum dan Hak Asasi Manusia Receipt of Notice of Amendment to the Articles of Republik Indonesia, sebagaimana ternyata dari surat Association of PT Sentul City Tbk. dated September Penerimaan Pemberitahuan Perubahan Anggaran 23, 2011 Number AHU-AH.01.10-30301. Dasar PT Sentul City Tbk, tertanggal 23 September 2011 nomor AHU-AH.01.10-30301.

Berdasarkan Akta Pernyataan Keputusan Rapat PT Based on the Deed PT Sentul City Tbk, number 1, Sentul City Tbk, nomor 1, tanggal 7 Juli 2015, yang dated July 7, 2015, made by Elizabeth Karina Leonita, dibuat oleh Elizabeth Karina Leonita, SH., M.Kn., SH., M.Kn., a notary in the city of Bogor, the Company Notaris di Kota Bogor, Perseroan telah menyesuaikan has adjusted its statutes by the Financial Services anggaran dasarnya dengan Peraturan Otoritas Jasa Authority Regulation No. 32 /POJK.04/2014, on the Keuangan Nomor 32/POJK.04/2014, tentang Implementation Plan for the General Meeting of Rencana Penyelenggaraan Rapat Umum Pemegang Shareholders of Public Company, No. 33 / POJK.04 Saham Perusahaan Terbuka, Nomor / 2014, on the Board of Directors and Board of 33/POJK.04/2014, tentang Direksi dan Dewan Commissioners of Public Company, No. 33 / PJK.04 Komisaris Emiten atau Perusahaan Publik, Nomor / 2014, on the Nomination and Remuneration 22 Laporan Tahunan 2020 Annual Report

Riwayat Singkat Perseroan History of the Company

33/PJK.04/2014, tentang Komite Nominasi dan Committee Issuer or Public Company, a deed which Remunerasi Emiten atau Perusahaan Publik, akta has been accepted by the Ministry of Law and mana telah diterima oleh Kementerian Hukum dan Human Rights of the Republic of Indonesia, Hak Asasi Manusia Republik Indonesia, Direktorat Directorate General of Legal Administration Jenderal Administrasi Hukum Umum sesuai surat corresponding letter dated July 10, 2015, No. AHU- tertanggal 10 Juli 2015, Nomor AHU-AH.01.03- AH.01.03-0950442, Receipt of Notification regarding 0950442, Perihal Penerimaan Pemberitahuan amendments of PT Sentul City Tbk. Perubahan Anggaran Dasar PT Sentul City Tbk.

Perseroan pada tanggal 17 Desember 2015, telah On December 17, 2015, the Company has obtained memperoleh persetujuan Rapat Umum Pemegang approval from the Extraordinary General Saham Luar Biasa untuk meningkatkan madal dasar Shareholders Meeting to increase its authorized dan modal ditempatkan - disetor Perseroan, melalui capital and issued/paid-up capital, through Capital Penambahan Modal Tanpa Hak Memesan Efek Increase without Pre-emptive Rights, and therefore, Terlebih Dahulu, sehingga karenanya modal dasar the Company's authorized capital became Perseroan menjadi Rp.14.000.000.000.000,- dan Rp.14,000,000,000,000.- and its issued/paid-up modal ditempatkan - disetor menjadi Rp. capital became Rp. 4,276,225,026,000.-as stated 4.276.225.026.000,- sebagaimana dimuat dalam in the Deed of Statement of the Resolutions of Akta Pernyataan Keputusan Rapat PT Sentul City Meeting of PT Sentul City Tbk., Number 9, dated Tbk, Nomor 9, tanggal 17 Desember 2015, yang December 17, 2015, made by Elizabeth Karina dibuat oleh Elizabeth Karina Leonita, SH., M.Kn., Leonita, SH., M.Kn., Notary in Bogor Municipality, Notaris di Kota Bogor, Akta mana telah memperoleh which has obtained approval from the Minister of Persetujuan dari Menteri Hukum dan Hak Asasi Law and Human Rights of the Republic of Indonesia Manusia Republik Indonesia Nomor AHU- Number AHU-0948654.AH.01.02.Tahun 2015, dated 0948654.AH.01.02.Tahun 2015, tanggal 22 Desember December 22, 2015 and has been received and 2015 dan telah diterima dan dicatat di dalam Sistem registered in the Legal Entity Administration System Administrasi Badan Hukum Kementerian Hukum of the Ministry of Law and Human Rights of the dan Hak Asasi Manusia Republik Indonesia, Republic of Indonesia, as proven by the letter of sebagaimana ternyata dari surat Penerimaan Receipt of Notification of Amendment to the Articles Pemberitahuan Perubahan Anggaran Dasar PT of Association of PT Sentul City, Tbk., dated Sentul City Tbk, tertanggal 22 Desember 2015 nomor December 22, 2015 number AHU-AH.01.03-0990543. AHU-AH.01.03-0990543.

Perseroan pada tanggal 7 Februari 2017, telah The Company on February 7, 2017, has obtained the memperoleh persetujuan Rapat Umum Pemegang approval of the Extraordinary General Meeting of Saham Luar Biasa untuk meningkatkan modal Shareholders to increase the Company's paid-up ditempatkan - disetor Perseroan, melalui PUT IV capital through the addition of Capital With Pre- dengan Hak Memesan Efek Terlebih Dahulu , emptive Rights, as contained in the Deed of Minutes sebagaimana dimuat dalam Akta Berita Acara Rapat of Extraordinary General Meeting of Shareholders Umum Pemegang Saham Luar Biasa PT Sentul City of PT Sentul City Tbk, Number 78, dated February Tbk, Nomor 78, tanggal 7 Februari 2017, yang 7, 2017, as reaffirmed by the Deed of PT Sentul City ditegaskan kembali dengan akta Pernyataan Tbk Meeting Decision Letter No. 122 dated April 17, Keputusan Rapat PT Sentul City Tbk, Nomor 122, 2017, made by Elizabeth Karina Leonita, SH., M.Kn., tanggal 17 April 2017, yang dibuat oleh Elizabeth Notary in the City Bogor, so that the paid-up capital Karina Leonita, SH., M.Kn., Notaris di Kota Bogor, of the Company becomes Rp. 6,348,420,756,600,- sehingga karenanya modal ditempatkan - disetor The Deed has been received and recorded in the Perseroan menjadi Rp. 6.348.420.756.600,- Akta Legal Entity Administration System of the Ministry mana telah diterima dan dicatat di dalam Sistem of Justice and Human Rights of the Republic of Administrasi Badan Hukum Kementerian Hukum Indonesia, as evident from the Letter of Acceptance dan Hak Asasi Manusia Republik Indonesia, of Notification of Amendment of the Articles of sebagaimana ternyata dari surat Penerimaan Association of PT Sentul City Tbk dated 25 April Pemberitahuan Perubahan Anggaran Dasar PT 2017 number AHU -AH.01.03-0130120. Sentul City Tbk, tertanggal 25 April 2017 nomor AHU- AH.01.03-0130120. Laporan Tahunan 2020 Annual Report 23

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Berdasarkan Pernyataan Keputusan Rapat Perseroan Based on the Decision of the Company Meeting Nomor 22, tanggal 12 Juni 2020, yang dibuat oleh Number 22, dated 12 June 2020, made by Elizabeth Elizabeth Karina Leonita, SH., M.Kn., Notaris di Kota Karina Leonita, SH., M.Kn., Notary in Bogor City, Bogor, terkait pelaksanaan Waran Seri I Baru, modal regarding the implementation of the New Series I ditempatkan dan disetor oleh Perseroan adalah Warrants, the issued and paid-up capital by the 67.083.561.082 saham dengan nilai Rp. Company is 67,083,561,082 shares with a value of 7.530.921.583.200,- Akta mana telah diterima dan Rp. 7,530,921,583,200,- Which deed has been dicatat di dalam Sistem Administrasi Badan Hukum received and recorded in the Legal Entity Kementerian Hukum dan Hak Asasi Manusia Administration System of the Ministry of Law and Republik Indonesia, sebagaimana ternyata dari surat Human Rights of the Republic of Indonesia, as Penerimaan Pemberitahuan Perubahan Anggaran evident from the acceptance letter of the Notification Dasar PT Sentul City Tbk, tertanggal 18 Juni 2020 of Amendment to the Articles of Association of PT nomor AHU-AH.01.03-0253007. Sentul City Tbk, dated 18 June 2020 AHU-AH number .01.03-0253007. 24 Laporan Tahunan 2020 Annual Report

Visi dan Misi Vision and Mission

V i s i M i s i

Menjadi perusahaan properti pilihan pertama • Mengembangkan Sentul City dengan bagi pelanggan dan pihak yang berkepentingan perumahan bermutu dan inovatif yang selaras lainnya karena kami meningkatkan kualitas hidup. dengan lingkungan alam. • Menyediakan fasilitas pendidikan terbaik dan layanan kesehatan bertaraf internasional. Vision • Memadukan perencanaan dan pembangunan To be the property developer of first choice for fasilitas komersial, hiburan dan wisata. all customers and stakeholders because we • Memperkaya pertumbuhan Sentul City undertake to elevate the quality of their lives. dengan fasilitas seni dan budaya.

Mission

• To supplement the development of Sentul City with quality and innovative housing product that harmonizes with the natural environment. • To provide the best educational centers and international health care facilities. • To integrate the planning and development of the commercial, entertainment and tourism facilities. • To enhance the value of the development of Sentul City with arts and culture amenities. Laporan Tahunan 2020 Annual Report 25

Highlights Management Reports Company Profile Supporting Facilities Management Discussion & Analysis Corporate Governance Kegiatan Usaha Perseroan Corporate Social Responsibility Menurut Anggaran Dasar Company's Business Activities According to the Articles of Association

1. Maksud dan tujuan Perseroan ini adalah berusaha 1. The purpose and objective of this Company is to dalam bidang konstruksi, real estate, perdagangan do business in the field of construction, real estate, dan jasa. trades and services. 2. Untuk mencapai maksud dan tujuan tersebut di 2. To achieve such purpose and objective above, the atas, Perseroan dapat melaksanakan kegiatan Company may conduct these following business usaha sebagai berikut: activities: a. kegiatan usaha utama Perseroan, meliputi: a. Main business activities of the Company shall (i) menjalankan usaha-usaha di bidang consist of: konstruksi, antara lain konstruksi gedung (i) Carrying on businesses in the field of tempat tinggal (Klasifikasi Baku Lapangan constructions, among others: the Usaha Indonesia nomor 41011), konstruksi construction of residential building (the gedung perkantoran (Klasifikasi Baku Indonesian Standard Industrial Classification Lapangan Usaha Indonesia nomor 41012), Number 41011), the construction of office konstruksi gedung perbelanjaan (Klasifikasi building (the Indonesian Standard Industrial Baku Lapangan Usaha Indonesia nomor Classification Number 41012), the 41014), konstruksi gedung kesehatan construction of office building (the (Klasifikasi Baku Lapangan Usaha Indonesia Indonesian Standard Industrial Classification nomor 41015), konstruksi gedung pendidikan Number 41014), the construction of health (Klasifikasi Baku Lapangan Usaha Indonesia building (the Indonesian Standard Industrial nomor 41016), konstruksi gedung Classification Number 41015), the penginapan (Klasifikasi Baku Lapangan construction of education building (the Usaha Indonesia nomor 41017), konstruksi Indonesian Standard Industrial Classification gedung tempat hiburan dan olahraga Number 41016), the construction of lodge (Klasifikasi Baku Lapangan Usaha Indonesia building (the Indonesian Standard Industrial nomor 41018) dan konstruksi gedung lainnya Classification Number 41017), the (Klasifikasi Baku Lapangan Usaha Indonesia construction of entertainment and sport nomor 41019); centers (the Indonesian Standard Industrial Classification Number 41018) and the construction of other buildings (the Indonesian Standard Industrial Classification Number 41019); (ii) menjalankan usaha dibidang real estate (ii) carrying on businesses in the field of real yang dimiliki sendiri atau disewa (Klasifikasi estate owned by itself or leased (the Baku Lapangan Usaha Indonesia nomor Indonesian Standard Industrial Classification 68110); Number 68110); (iii) carrying on businesses in the field of real (iii) menjalankan usaha dibidang real estate atas estate based on compensation (fee) or dasar balas jasa (fee) atau kontrak (Klasifikasi contract (the Indonesian Standard Industrial Baku Lapangan Usaha Indonesia nomor Classification Number 68200); 68200); (iv) carrying on businesses in the field of (iv) menjalankan usaha di bidang Kawasan Industrial Zones (the Indonesian Standard industri (Klasifikasi Baku Lapangan Usaha Industrial Classification Number 68130) Indonesia nomor 68130) b. its supporting business activities include: b. kegiatan usaha penunjang, meliputi: (i) the activities of building, maintenance and (i) kegiatan pembangunan, pemeliharaan dan repair, among others the construction of perbaikan, antara lain konstruksi bangunan electrical building (the Indonesian Standard elektrikal (Klasifikasi Baku Lapangan Usaha Industrial Classification Number 42213), the Indonesia nomor 42213), konstruksi construction of building, processing, 26 Laporan Tahunan 2020 Annual Report

bangunan pengolahan, penyaluran dan distribution and the reservoir of drinking penampungan air minum, air limbah dan water, waste water and drainage (the drainase (Klasifikasi Baku Lapangan Usaha Indonesian Standard Industrial Classification Indonesia nomor 42212) dan konstruksi Number 42212) and the construction of other jaringan elektrikal dan telekomunikasi lainnya electrical system and telecommunication termasuk konstruksi jaringan pipa untuk gas including the construction of piping system (Klasifikasi Baku Lapangan Usaha Indonesia for gas (the Indonesian Standard Industrial nomor 42219); Classification Number 42219); (ii) perdagangan besar atas dasar balas jasa (ii) wholesale based on compensation (fee) or (fee) atau kontrak atas bahan-bahan contract on construction materials that konstruksi mencakup kayu dan berbagai include woods and various kinds of kayu olahan, cat, pelitur, vernis, material processing woods, paintings, polish, varnish, konstruksi, kaca datar, semen, ubin dan lain- construction materials, flat glass, cements, lain (Klasifikasi Baku Lapangan Usaha tile and others (the Indonesian Standard Indonesia nomor 46100); Industrial Classification Number 46100); (iii) aktivitas kebersihan umum bangunan (iii) general hygiene activity of the building (the (Klasifikasi Baku Lapangan Usaha Indonesia Indonesian Standard Industrial Classification nomor 81210); Number 81210); (iv) kegiatan usaha instalasi listrik (Klasifikasi (iv) business activity of electrical installation Baku Lapangan Usaha Indonesia nomor (the Indonesian Standard Industrial 43211), baik pada bangunan gedung baik Classification Number 43211), on building untuk tempat tinggal maupun bukan tempat construction either for residence or non- tinggal; residence building; (v) kegiatan usaha instalasi telekomunikasi (v) business activity of telecommunication (Klasifikasi Baku Lapangan Usaha Indonesia installation (the Indonesian Standard nomor 43212) pada bangunan gedung baik Industrial Classification Number 43212) on untuk tempat tinggal maupun bukan tempat building construction, either for residence tinggal, seperti pemasangan antenna; or non-residence building such as the installation of antenna; (vi) kegiatan usaha instalasi saluran air (vi) business activity of water canal installation (plambing) (Klasifikasi Baku Lapangan Usaha (plumbing) (the Indonesian Standard Indonesia nomor 43221) pada bangunan Industrial Classification Number 43221) on gedung baik untuk tempat tinggal maupun building construction, either for residence bukan tempat tinggal, termasuk kegiatan or non-residence building, including the pemeliharaan dan perbaikan instalasi activities of maintenance and repair of water saluran air; canal installation;

(vii) kegiatan usaha instalasi mekanikal (Klasifikasi (vii) business activity of mechanical installation Baku Lapangan Usaha Indonesia nomor (the Indonesian Standard Industrial 43291) pada bangunan gedung, seperti lift, Classification Number 43291) on building tangga berjalan (eskalator), ban berjalan construction such as lift, the escalator, (conveyor), gondola dan pintu otomatis. conveyors, gondola and automatic doors.

Kegiatan Usaha Pada Tahun Buku Business Activities during the Financial Year Menjalankan usaha real estate dan properti, antara Conducting real estate and property businesses, lain meliputi perdagangan yang berhubungan dengan including trades that relate to real estate business, i.e., usaha real estate, yaitu penjualan bangunan-bangunan selling house buildings, office buildings, shop buildings, rumah, gedung perkantoran, gedung pertokoan, unit- apartment space units, office spaces, shop spaces unit ruangan apartemen, ruangan kantor, ruangan and others; pertokoan dan lain-lain;

Jenis Barang Yang Dihasilkan Types of goods produced Bangunan rumah, apartemen, gedung perkantoran, House buildings, apartments, office buildings, shop gedung pertokoan dan lain-lain. buildings and others Laporan Tahunan 2020 Annual Report 27

Highlights Management Reports Company Profile Supporting Facilities Management Discussion & Analysis Corporate Governance Struktur Organisasi Corporate Social Responsibility Organization Structure

DEWAN KOMISARIS Board of Commisioners

KOMITE AUDIT Audit Committee

TJETJE MULJANTO Presiden Direktur/President Director

RICHARD SUSILO IWAN BUDIHARSANA Direktur/Director Direktur/Director

Johan Firmansyah Penny Rosita Liu Kwee Liana Kumala Internal Audit Accounting, Tax Corporate Secretary

Edhi Sulistyono Lucky Putra Darma Alfian Mujani Quantity Surveyor & Banking & Investor Relation Corporate Communication Procurement

Tan Albert Alfian Mujani Desha Nugraha Finance Land Permit Planning & Design

Lusiana Rebecca Djoko Surono Budget Surveyor

Didi S. Pineda Kwari Dharmawan Palupessy Sales Administration Engineering

Endry Saputra Johansen General Affairs Project Construction

Ari H. Setyaningsih Customer Relation Sales Club

Nursalam Gultom Frankie L. Monintja Corporate Legal Product & Marketing Research

Muliadi Widodo Heru Kusuma Wijaya Information Technology Marketing Communication

Michael Safardan Human Capital 28 Laporan Tahunan 2020 Annual Report

Profil Direksi Profile of Director

Tjetje Muljanto Presiden Direktur President Director

Presiden Direktur Perseroan yang memiliki tugas dan He is President Director of the Company who has the duties tanggungjawab mengelola usaha Perseroan dan and responsibilities of managing the Company's business and mengkoordinasikan tugas-tugas para Direktur. coordinating the duties of the Board of Directors.

Selain dari pada itu Presiden Direktur juga memiliki tugas President Director also has duties and responsibilities in the dan tanggungjawab di bidang Internal Audit, Quantity areas of Internal Audit, Quantity Surveyor and Procurement, Surveyor & Procurement, Site Plan Urban Design, Surveyor, Site Plan Urban Design, Surveyor, Engineering, Project Engineering, Project Construction, Sales Club, Product & Construction, Sales Club, Product and Marketing Research, Marketing Research, Marketing Communication dan Human Marketing Communication and Human Capital. He is 59 years Capital. Usia 59 tahun, kewarganegaraan Indonesia. old and Indonesian citizen.

Pernah kuliah di Fakultas Teknik Arsitektur, Universitas He finished his study at the Faculty of Architectural Engineering, Soegijapranata, Semarang. Soegijapranata University, Semarang.

Dasar hukum penunjukan sebagai anggota Direksi Perseroan The legal basis for his appointment as a member of the adalah sesuai Akta Berita Acara Rapat Umum Pemegang Company's Board of Directors is in accordance with the Deed Saham Nomor : 38, tanggal 14 Oktober 2020, yang dibuat of Minutes of the General Meeting of Shareholders Number: oleh Elizabeth Karina Leonita, SH., M.Kn., Notaris di Kota 38, dated 14 October 2020, drawn up by Elizabeth Karina Bogor. Leonita, S.H., M.Kn., Notary in Bogor City.

Selain menjabat sebagai Direktur Perseroan, beliau juga Apart from serving as the Director of the Company, he also menjabat sebagai Direktur PT Ega Sentosa Jaya, sampai serves as the Director of PT Ega Sentosa Jaya until now. sekarang.

Pengalaman kerja antara lain pernah bekerja pada Biesse His has an experience of working for Biesse Group, Italy (1994). Group, Italia (1994). Laporan Tahunan 2020 Annual Report 29

Highlights Management Reports Company Profile Supporting Facilities Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Iwan Budiharsana Direktur Director

Direktur Perseroan yang memiliki tugas dan tanggungjawab Director of the Company who has the duties and responsibilities membantu Presiden Direktur dalam mengelola operasional of assisting the President Director in managing the Company's Perseroan, serta memiliki tugas dan tanggungjawab di bidang operations, and has duties and responsibilities in the areas of Corporate Secretary, Corporate Communication dan Land Corporate Secretary, Corporate Communication and Land Permit. Usia 68 tahun, kewarganegaraan Indonesia. Permit. 68 years old, Indonesian citizenship.

Pernah kuliah di Fakultas Tehnik Arsitektur - Universitas He had studied at Architectural Engineering Faculty of University Tarumanegara, Jakarta, Indonesia (1973), Diploma Air of Tarumanegara, Jakarta, Indonesia (1973), Diploma of Air Conditioning Technician - George Brown College, Toronto, Conditioning Technician - George Brown College, Toronto, Canada (1976), Diploma Automotive Technology & Diesel Canada (1976), Diploma of Automotive Technology and Diesel Engine - National Technical School, Los Angeles, CA.USA Engine - National Technical School, Los Angeles, CA.USA (1978), (1978), Business Administration - Northrop University, Business Administration - Northrop University, Inglewood, CA. Inglewood, CA. USA (1983), Diploma in Golf Management - USA (1983), Diploma in Golf Management - Professional Golfers Professional Golfers Career College, Temecula, CA.USA (2000). Career College, Temecula, CA.USA (2000).

Dasar hukum penunjukan sebagai anggota Direksi Perseroan The legal basis for his appointment as the Member of Board of adalah sesuai Akta Berita Acara Rapat Umum Pemegang Directors is in accordance with the Deed of Minutes of General Saham Nomor : 38, tanggal 14 Oktober 2020, yang dibuat Meeting of the Shareholders Number: 38, dated 14 October 2020, oleh Elizabeth Karina Leonita, SH., M.Kn., Notaris di Kota made by Elizabeth Karina Leonita, SH., M.Kn., Notary in Bogor City. Bogor.

Selain menjabat sebagai Direktur Perseroan, beliau juga He also serves as the President Director of PT Izumi Sentul menjabat sebagai Direktur Utama PT Izumi Sentul Realty, Realty, the Director of PT Aftanesia Raya, the Commissioner Direktur PT Aftanesia Raya, Komisaris PT Gunung Geulis Elok of PT Gunung Geulis Elok Abadi, the Commissioner of PT Jaya Abadi, Komisaris PT Jaya Selaras Utama, Komisaris PT Kencana Selaras Utama, the Commissioner of PT Kencana Pondok Pondok Sejahtera dan Komisaris PT Centerra Manajemen Sejahtera and the Commissioner of PT Centerra Manajemen Properti Properti.

Pengalaman kerja antara lain Director Sentul Highlands Golf His working experiences are Director - Sentul Highlands Golf Club, Bogor, Indonesia (2007-2019), Menjabat sebagai Club, Bogor, Indonesia (2007-2019), President Commissioner Komisaris Utama PT Padang Golf Bukit Sentul (Sentul - PT Padang Golf Bukit Sentul (Sentul Highlands Golf Club) Highlands Golf Club) (2019-Present), General Manager - (2019-Present), General Manager - Imperial Golf Club, Lippo Imperial Golf Club, Lippo Karawaci, Indonesia (1993-1998), Karawaci, Indonesia (1993-1998), Manager - Lippo Pacific Manager - Lippo Pacific Finance, Indonesia (1989-1993), Finance, Indonesia (1989-1993), Marketing Manager - PT Arta Marketing Manager - PT. Arta Wiskon, Jakarta, Indonesia Wiskon, Jakarta, Indonesia (1979-1981, 1983-1984). (1979-1981, 1983-1984). 30 Laporan Tahunan 2020 Annual Report

Profil Direksi Profile of Director

Richard Susilo Direktur Director

Direktur Perseroan yang memiliki tugas dan tanggungjawab He is the Director of the Company who has the duties and membantu Presiden Direktur dalam mengelola operasional responsibilities of assisting the President Director in managing Perseroan, serta memiliki tugas dan tanggungjawab di bidang the Company's operations, and has the duties and Accounting Tax, Banking & Investor Relation, Finance, Budget, responsibilities in the areas of Accounting Tax, Banking and Sales Administration, General Affairs, Customer Relation, Investor Relation, Finance, Budget, Sales Administration, Corporate Legal dan Information Technology. Usia 64 tahun, General Affairs, Customer Relation, Corporate Legal and kewarganegaraan Indonesia. Information Technology. He is 64 years old and Indonesian citizen.

Sarjana Ekonomi Universitas Pancasila (1985). He obtained the Bachelor of Economics from Pancasila University (1985).

Dasar hukum penunjukan sebagai anggota Direksi Perseroan The legal basis for his appointment as a member of the adalah sesuai Akta Berita Acara Rapat Umum Pemegang Company's Board of Directors is in accordance with the Deed Saham Nomor : 38, tanggal 14 Oktober 2020, yang dibuat of Minutes of the General Meeting of Shareholders Number: oleh Elizabeth Karina Leonita, SH., M.Kn., Notaris di Kota 38, dated 14 October 2020, drawn up by Elizabeth Karina Bogor. Leonita, S.H., M.Kn., Notary in Bogor City.

Selain menjabat sebagai Direktur Perseroan, beliau juga Beside serving as the Director of the Company, he also serves menjabat sebagai Direktur Utama PT Sentul PP Properti, as President Director of PT Sentul PP Properti, Director of PT Direktur PT Sentul Graha Sejahtera, Komisaris PT Bintang Sentul Graha Sejahtera, and Commissioner of PT Bintang Perdana Mulia. Perdana Mulia.

Pengalaman kerja antara lain bekerja pada Arthur Andersen His has experiences of working for Arthur Andersen (1990- (1990-1997), bekerja pada PT Akur Pratama (Yogya Group), 1997), working at PT Akur Pratama (Yogya Group) as the sebagai Direktur Keuangan (1998-2002), sebagai Direktur Director of Finance (1998-2002), Director of HRD (2002- HRD (2002-2006), sebagi Direktur Operation (2006-2009), 2006), Director of Operations (2006-2009), and Director of sebagai Direktur IT (2009-2012). IT (2009-2012). Laporan Tahunan 2020 Annual Report 31

Highlights Management Reports Company Profile Supporting Facilities Management Discussion & Analysis Corporate Governance Profil Dewan Komisaris Corporate Social Responsibility Profile of Board of Commisioners

Basaria Panjaitan Presiden Komisaris President Commissioner

Presiden Komisaris Perseroan, Usia 63 Tahun, kewarganegaraan She is President Commissioner of the Company, 63 years old and Indonesia. Lulusan Sepamilsukwan Polri I Tahun 1983/1984, Sekolah Indonesian citizen. She graduated from Women's Voluntary Military Calon Perwira Polri tahun 1996/97, Spimnas LAN tahun 2005 dan Officer School (Sepamilsukwan) I of National Police in 1983/1984, Sespati Polri tahun 2008. Disamping menempuh Pendidikan Kedinasan National Police Officer Candidate School (Sekolah Calon Perwira) in beliau juga menempuh Pendidikan Umum yaitu Lulusan Akademi 1996/97, National Leadership School of State Administrative Agency Akuntansi tahun 1982, memperoleh gelar Sarjana Hukum tahun 2002 (Spimnas LAN) in 2005, and National Police Officer Staff Academy dan memperoleh gelar Megister Hukum tahun 2007. (Sespati) in 2008. In addition to attending Official Education, she also took General Education. She graduated from Accounting Academy in 1982, obtained the Bachelor's Degree in Law in 2002 and Master's Degree in Law in 2007.

Dasar hukum penunjukan sebagai anggota Dewan Komisaris Perseroan The legal basis for her appointment as a member of the Company's adalah sesuai Akta Berita Acara Rapat Umum Pemegang Saham Luar Board of Commissioners is in accordance with the Deed of Minutes Biasa Nomor : 38, tanggal 14 Oktober 2020, yang dibuat oleh Elizabeth of the Extraordinary General Meeting of Shareholders Number: 38, Karina Leonita, SH., M.Kn., Notaris di Kota Bogor. dated 14 October 2020, drawn up by Elizabeth Karina Leonita, S.H., M.Kn., Notary in Bogor City.

Pengalaman dan Jabatan beliau antara lain, Paur Subdisbuk Disku She has some experiences and has held important positions. She Mabes Polri tahun 1984 - 1989, Panit Sat. Idik. Baya Ditserse Mabes ever served as Paur Subdisbuk Disku at the National Police Headquarter Polri tahun 1990 - 1995, Kasat Narkoba Polda NTB tahun 1997 - 2000, in 1984-1989, an Officer of the Investigation Unit of Bhayangkara Kabag Narkoba Polda Jabar tahun 2000 - 2004, Dir Reskrim Polda Directorate of Detective (Panit Sat. Idik. Baya Ditserse) at the National Kepri tahun 2006 - 2008, Kapus Provos Divpropam Polri tahun 2009, Police Headquarter in 1990-1995, the Head of Drug Unit (Kasat Karobekum Sdelog Polri tahun 2010, Widyaiswara Madya Sespim Narkoba) at NTB Regional Police in 1997-2000, the Head of Drug tahun 2010 - 2014, Sahlisospol Kapolri tahun 2014 - 2015, Komisoner Department (Kabag Narkoba) at West Java Regional Police in 2000- KPK tahun 2015 - 2019. 2004, the Director of Criminal Detective (Dir Reskrim) at Riau Islands Regional Police in 2006-2008, Kapus Provos Divpropam at the National Police in 2009, Karobekum Sdelog at the National Police in 2010, Widyaiswara Madya Sespim in 2010-2014, Socio-Political Expert Staff (Sahlisospol) of the National Police Chief in 2014-2015, the Commissioner of Corruption Eradication Commission (KPK) in 2015- 2019. 32 Laporan Tahunan 2020 Annual Report

Profil Dewan Komisaris Profile of Board of Commisioners

Jonnardi Komisaris Independen Independent Commissioner

Komisaris Independen Perseroan, Usia 56 Tahun, kewarganegaraan He is an Independent Commissioner of the Company, 56 years old Indonesia. Menyelesaikan pendidikan di Fakultas Ekonomi Universitas and Indonesian citizen. He finished his study at the Faculty of Andalas Sumatera Barat tahun 1990, menyelesaikan program Pasca Economics of Andalas University of West Sumatra in 1990, Postgraduate Sarjana Magister Manajemen di Universitas Trisakti tahun 1995 dan Master's Degree in Management at Trisakti University in 1995 and memperoleh gelar Doktor Manajemen Bisnis Konsentrasi Manajemen obtained his Doctoral Degree in Business Management Concentrated Keuangan Program Pasca Sarjana di Universitas Padjajaran tahun in Financial Management of Postgraduate Program at Padjajaran 2014. University in 2014. Dasar hukum penunjukan pertama kali sebagai Komisaris Independen The legal basis for his first appointment as an Independent Perseroan adalah berdasarkan Akta Berita Acara Rapat Umum Commissioner of the Company is in accordance with the Deed of Pemegang Saham Nomor : 80, tanggal 25 Juni 2020, yang dibuat oleh Minutes of the General Meeting of Shareholders Number: 80, dated Elizabeth Karina Leonita, SH., M.Kn., Notaris di Kota Bogor. 25 June 2020, drawn up by Elizabeth Karina Leonita, S.H., M.Kn., Notary in Bogor City. Saat ini beliau menjabat sebagai Pimpinan Rekan pad a Kantor Akuntan He currently serves as a Managing Partner at the Public Accounting Publik Jamaludin, Ardi, Sukimto dan Rekan. Disamping itu beliau juga Firm Jamaludin, Ardi, Sukimto and Partners. He is also a Lecturer at sebagai Dosen pada Fakultas Ekonomi Universitas Tarumanegara the Faculty of Economics of Tarumanegara University since 1991 and sejak 1991 dan Instruktur Mata Kuliah Teori Akuntansi PPA Bank Central an Instructor in the Accounting Theory Course of Accounting Training Asia sejak 1995. Program (PPA) in Bank Central Asia since 1995. Pelatihan yang diikuti untuk meningkatkan kompetensi, dalam tahun Some trainings attended to improve his competence in 2020 financial buku 2020 adalah : year are: 1. Pelatihan Urgensi Penerapan Engagement Quality Control Review 1. Training on the Urgency of Engagement Quality Control Review (EQCR) dan Peran Komunikasi/Konsultasi Kepada Regulator Sesuai Implementation and the Role of Communication/ Consultation POJK 13 Tahun 2017, Dalam Rangka Mitigasi Risiko Audit. for Regulators with respect to the OJK Regulation No. 13 of 2017 2. Pelatihan Wajib Akuntan Publik, Di Bidang Pembinaan & to Mitigate Audit Risks. Pengawasan Tahun 2020. 2. Compulsory Training for Public Accountants in Coaching and 3. Pelatihan Memahami Isu-Isu Kritis Restrukturisasi Hutang Supervision Field of 2020. Bermasalah Di Tengah Pandemi Covid-19. 3. Training for Understanding Critical Issues of Non-Performing Loan 4. Pelatihan PSAK 71 : Instrument Keuangan. Restructuring in the Midst of the Covid-19 Pandemic. 5. Pelatihan Sosialisasi Perubahan Anggaran Dasar Dan Anggaran 4. Indonesian Financial Accounting Standards (IFAS) 71 Training: Rumah Tangga. Financial Instruments. 6. Pelatihan Publikasi DSAK IAI Terkait PSAK 8, PSAK 68, Dan PSAK 5. Training on the Socialization of Amendments to Articles of 71, Serta Pertimbangan Audit Atas Standar Akuntansi Terkait Dan Association and Bylaws. Pelaporan Audit Dana Pensiun. 6. Training on Publication of Financial Accounting Standards Board 7. Pelatihan PERBANAS Implementasi PSAK 71,72, 73 dan Dampaknya (FASB) of Indonesian Accountants Association (IAI) Related to Terhadap Pajak. IFAS 8, 68, and 71, as well as Audit Considerations on the Relevant 8. Pelatihan Pertimbangan Khusus Dalam Audit Laporan Keuangan Accounting Standards and Pension Fund Audit Reporting. Perusahaan Pembiayaan. 7. Indonesian Banks Association (PERBANAS) Training on the 9. Pelatihan Diskusi Panel Peran Auditor Internal, Komite Audit, Dan Implementation of IFAS 71, 72, 73 and their Impacts on Taxes. Auditor Eksternal Dalam ISO 37001 : 2016 Sistem Manajemen Anti 8. Training on Special Considerations in Financial Statements Audit Penyuapan. of Finance Company. 10. Pelatihan Aspek Akuntansi Dan Audit Dalam Laporan Keuangan 9. Training on the Panel Discussion for Roles of Internal Auditor, Dana Pensiun. Audit Committee, and External Auditor in ISO 37001: 2016 Anti- 11. Pelatihan Indikator-Indikator Kualitas Audit Pada Kantor Akuntan Bribery Management System. Publik. 10. Training on Accounting and Auditing Aspects in Financial 12. Pelatihan Aspek Akuntansi Dan Audit Laporan Keuangan BPR. Statements of Pension Fund. 13. Pelatihan Outlook Keuangan Dan Akuntansi Syariah 2021. 11. Training on Audit Quality Indicators at Public Accounting Firm. 12. Training on Accounting and Auditing Aspects of People's Credit Bank (BPR) Financial Statements. 13. Sharia Financial and Accounting Outlook Training in 2021. Laporan Tahunan 2020 Annual Report 33

Highlights Management Reports Company Profile Supporting Facilities Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Sumarsono Komisaris Commissioner

Komisaris Perseroan, usia 65 tahun, kewarganegaraan Commissioner of the Company, 65 years old and Indonesian Indonesia. Lulusan Sekolah Tinggi Ilmu Ekonomi Indonesia citizenship. Graduated from the School of Economics of tahun 1986, Jurusan Akuntansi. Indonesia in 1986, majoring in Accounting.

Dasar hukum penunjukan sebagai anggota Anggota Dewan The legal basis of his appointment as a member of the Komisaris Perseroan adalah sesuai Akta Berita Acara Rapat Commissioner is pursuant to the Resolution of General Meeting Umum Pemegang Saham Nomor : 38, tanggal 14 Oktober of Shareholders Deed Number: 38, dated 14 October 2020, 2020, yang dibuat oleh Elizabeth Karina Leonita, SH., M.Kn., which was drawn up by Elizabeth Karina Leonita, SH., M.Kn., Notaris di Kota Bogor. Notary in Bogor City.

Selain menjabat sebagai Komisaris Perseroan, beliau juga Besides serving as Commissioner of the Company, he also menjabat sebagai Komisaris PT Aftanesia Raya, PT Bukit serves as Commissioner of PT Aftanesia Raya, PT Bukit Jonggol Jonggol Asri, PT Sentul PP Properti dan Direktur Utama PT Asri, PT Sentul PP Property and President Director of PT Gazelle Gazelle Indonesia. Indonesia.

Karirnya dimulai pada tahun 1974 sebagai Supervisor He started his career in 1974 as a Housekeeping Department Housekeeping Department pada PT Bhakti Ksatria Utama Supervisor at PT Bhakti Ksatria Utama (1974-1984), then worked (1974-1984), kemudian bekerja sebagai Auditor Eksternal as an External Auditor at Public Accountant Firm Drs O. Pieter pada Kantor Akuntan Publik Drs O.Pieter Arifin (1982-1988), Arifin (1982-1988), as a Finance & Accounting General Manager sebagai General Manager Finance & Accounting masing- at PT. Linolen Sari Nabati Murni (1988-1991), PT. Toyo Diptana masing pada PT. Linolen Sari Nabati Murni (1988-1991), PT. Mas (1991-1997), PT. Royal Ostrindo (1997-2000) and PT. Dayu Toyo Diptana Mas (1991-1997), PT. Royal Ostrindo (1997- Bahtera Kurnia (2000-2002), and joined the Company as an 2000) dan PT. Dayu Bahtera Kurnia (2000-2002), kemudian Chief Internal Auditor (June 2002 - June 2005), as an Assistant bergabung dengan Perseroan sebagai Chief Internal Audit Director (July 2005 - June 2007), as a member of Audit (Juni 2002- Juni 2005), sebagai Asisten Direktur (Juli 2005- Committee (July 2007 - June 2008). Juni 2007), sebagai anggota Komite Audit (Juli 2007-Juni 2008). 34 Laporan Tahunan 2020 Annual Report

Sumber Daya Manusia Human Resources

Komposisi Karyawan Menurut Tingkat Pendidikan Employee Composition by Education Level

SMA atau Diploma S-2 Jumlah Sederajat S-1

Senior High Diploma Bachelor Master Total School or equal Degree Degree 30 4098 17 185

Komposisi Karyawan Menurut Usia Employee Composition by Age

s/d 30th 30-45th 45 - 55th > 55th Jumlah

up to 30 years 30-45 years 45-55 years >55 years Total 5580 30 20 185 Laporan Tahunan 2020 Annual Report 35

Highlights Management Reports Company Profile Supporting Facilities Management Discussion & Analysis Corporate Governance Entitas Anak Corporate Social Responsibility Perseroan Subsidiary Companies

Persentase No Anak-anak Perusahaan Kepemilikan Saham Bidang Usaha

Ownership No Subsidiary Company Industry Percentage 1 PT. Bukit Jonggol Asri 45,00 % Real Estat Gedung Graha Utama Real Estate Jl. MH Thamrin Sentul City Desa Cijayanti, Kecamatan Babakan Madang Bogor 16811

2 PT. Aftanesia Raya 99,99 % Real Estat Sentul City Building Jl. MH Thamrin Kav. 8 Sentul City, Real Estate Desa Cipambuan, Kecamatan Babakan Madang, Bogor 16811

3 PT Natura City Developments Tbk 29,23 % Real Estat Gedung SICC Lt. 3, Jl. Jend. Sudirman Real Estate Cipambuan, Babakan Madang, Bogor 16811

4 PT. Gununggeulis Elok Abadi 99,99 % Restoran & Pariwisata Sentul City Building Jl. MH Thamrin Kav. 8 Sentul City Restaurant & Tourism Desa Cipambuan, Kecamatan Babakan Madang, Bogor 16811

5 PT. Karya Megah Sukses 99,99 % Perdagangan, Gedung Menara Sudirman Lt.26 Pembangunan & Jasa Jl. Jend. Sudirman Kav. 60 Trading, Development Kelurahan Senayan, Kecamatan Kebayoran Baru & Service Jakarta Selatan 12190

6 PT. Sukaputra Grahacemerlang 99,99 % Pengelolaan Kota Plaza Niaga I Blok C No. 25 & 27 Urban Management Sentul City, Desa Citaringgul, Kecamatan Babakan Madang Kabupaten Bogor 16810

7 PT Sentul Air Nusantara 99,99 % Pengelolaan Air Jl. Taman Venesia Utara No.151, Desa Sumur Batu Water Management Kecamatan Babakan Madang Kabupaten Bogor 16810

8 PT. Gazelle Indonesia 99.99 % Real Estat Ruko Plaza Niaga I Blok B No. 33 Real Estate Sentul City, Desa Citaringgul, Kecamatan Babakan Madang Kabupaten Bogor 16810

9 PT Langgeng Sakti Mandiri* 99,99 % Pengelolaan Air Gedung Menara Sudirman Lt.22 Water Management Jl. Jend. Sudirman Kav. 60 Kelurahan Senayan, Kecamatan Kebayoran Baru Jakarta Selatan 12190

10 PT Bintang Perdana Mulia** 99,83 % Real Estat Gedung Menara Sudirman Lt.22 Real Estate Jl. Jend. Sudirman Kav.60 Kelurahan Senayan, Kecamatan Kebayoran Baru Jakarta Selatan 12190

11 PT Sentul PP Properti 51,00 % Real Estat Ruko Pasar Bersih Blok H No. 8 Sentul City Real Estate Desa Citaringgul Kecamatan Babakan Madang Kabupaten Bogor 16810

12 PT Jaya Selaras Utama *** 99,92 % Jasa Perparkiran Bellanova Country Mall RK 3 No.9 Parking Service Desa Cipambuan Kecamatan Babakan Madang Kabupaten Bogor 16811 36 Laporan Tahunan 2020 Annual Report

Entitas Anak Perseroan Subsidiary Companies

Persentase No Anak-anak Perusahaan Kepemilikan Saham Bidang Usaha

Ownership No Subsidiary Company Industry Percentage 13 PT Jaya Selaras Gemilang 99,20 % Perdagangan & Jasa Sentul City Building Trading & Service Jl. MH. Thamrin Kav.8, Desa Cipambuan Kecamatan Babakan Madang, Kabupaten Bogor

14 PT Graha Sejahtera Abadi 99,99 % Real Estat Gedung Menara Sudirman 26 Real Estate Jl. Jend. Sudirman Kav.60, Kelurahan Senayan Kecamatan Kebayoran Baru, Jakarta Selatan

15 PT Serpong Natura Hijau Sentosa**** 99,00 % Pengelolaan Kota Gedung SICC Lt. 3, Jl. Jend. Sudirman Urban Management Cipambuan, Babakan Madang, Bogor 16811 16 PT Fauna Land Sentul 70 % Pariwisata Marketing Galery Jl. MH. Thamrin 8 Tourism Cipambuan, Babakan Madang, Bogor 16811

17 PT Kencana Pondok Sejahtera 99,8 % Real Estat Marketing Galery Jl. MH. Thmarin 8 Real Estate Cipambuan, Babakan Madang, Bogor 16811

18 PT Sentul City Properti 99,9 % Real Estat Marketing Galery Jl. MH. Thmarin 8 Real Estate Cipambuan, Babakan Madang, Bogor 16811

* Dimiliki Perseroan melalui PT Bukit Jonggol Asri * The company is owned by PT Bukit Jonggol Asri **Dimiliki Perseroan melalui PT Aftanesia Raya ** The company is owned by PT Aftanesia Raya *** Dimiliki Perseroan melalui PT. Gununggeulis Elok Abadi *** The company is owned by PT Gununggeulis Elok Abadi ****Dimiliki Perseroan melalui PT Natura City Developments Tbk **** The company is owned by PT Natura City Developments Tbk Laporan Tahunan 2020 Annual Report 37

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Persentase No Anak-anak Perusahaan Kepemilikan Saham Bidang Usaha

No Subsidiary Company Ownership Industry Percentage 1 PT. Royal Sentul Resort Hotel 48,00 % Hotel

2 PT. Jakarta Polo and Equestrian 42,00 % Klub Polo/Polo Club 3 PT. Sukses Pratama Gemilang 50,00 % Properti, Jasa & Perdagangan Property, Service & Trading

4 PT. Langgeng Sakti Persada 50,00 % Perdagangan Umum & Jasa General Trading & Service 5 PT. Serumpun Lestari Sejahtera 50,00 % Perhotelan/Hospitality

6 PT. Bintang Emerald Perdana 50,00 % Properti, Jasa & Perdagangan Property, Service & Trading 7 PT. Cakrawala Bintang Unggulan 50,00 % Perdagangan Umum & Jasa General Trading & Service

8 PT Group Seventy Asia 45,00 % Jasa Arsitektur/Architectural Services 9 PT Izumi Sentul Realty 30,00 % Jasa Pengelolaan Gedung Building Management Services 10 PT Sentul Investindo 8,19 % Perdagangan & Alat Kesehatan Trading & Medical devices 38 Laporan Tahunan 2020 Annual Report

Informasi Pemegang Saham Shareholders’ Information

Pemegang Saham di atas 5% per 31 Desember 2020 Shareholders holding more than 5% ownership per 31 December 2020

NoPemegang Saham Jumlah Saham Persentase

No Shareholders Total Shares Percentage

1 PT SAKTI GENERASI PERDANA 35.338.370.746 52,68 % 2 STELLA ISABELLA DJOHAN 11.244.503.014 16,76 % 3 Masyarakat/Public* 20.500.687.322 30,56 % * Kelompok Pemegang Saham di bawah 5 % * Below 5 % shareholders

Jumlah Pemegang Saham dan Persentase Kepemilikan per 31 Desember 2020 Total Shareholders and Ownership Percentage per December 31, 2020

NoKlasifikasi Kepemilikan Pemegang Saham Persentase

No Ownership Classification Shareholders Percentage

a Institusi Lokal / Local Institution 130 56,731 % b Institusi Asing / Foreign Institution 70 5,950% c Institusi Lokal / Local Institution 23.536 37,060% d Institusi Asing / Foreign Institution 62 0,259% TOTAL 23.798 100 % Laporan Tahunan 2020 Annual Report 39

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Pemegang Saham Utama dan Pengendali PT Sentul City Tbk 2020 Major Shareholder and Operator PT Sentul City Tbk 2020

LUSIANA HERDIN STELLA ISABELLA DJOHAN 1 saham 599 saham (0,17%) (99,83%)

PT. SAKTI GENERASI PERDANA STELLA ISABELLA DJOHAN Masyarakat 35.338.370.746 shm 11.244.503.014 shm 20.500.687.322 shm (52,68 %) (16,76 %) (30,56 %)

PT SENTUL CITY Tbk 67.083.561.082 shm 40 Laporan Tahunan 2020 Annual Report

Kronologi Pencatatan Saham Perseroan Chronological Shares Listing

Pada tanggal 30 Juni 1997, berdasarkan pernyataan On June 30, 1997, based upon the effective statement efektif dari Ketua Badan Pengawas Pasar Modal approval of the Chairman of Capital Market (Bapepam) dengan suratnya No.S-1511/PM/1997, Supervisory Agency (Bapepam) pursuant to Letter Perseroan melakukan Penawaran Umum Perdana No.S-1511/PM/1997 the Company conducted an Initial (IPO) kepada masyarakat atas 400.000.000 (empat Public Offering (IPO) of 400,000,000 (four hundred ratus juta) saham Seri A dengan nilai nominal Rp.500 million) Series A shares with nominal value of Rp.500 (lima ratus rupiah) dan harga penawaran Rp.500 (five hundred rupiah) and an offering price of Rp (lima ratus rupiah) per saham dengan total dana 500 (five hundred rupiah) per share and the hasil IPO sebesar Rp.200.000.000.000 (dua ratus proceeds of offering was in a total of Rp. miliar rupiah). Perseroan mencatatkan saham- 200,000,000,000 (two hundred billion rupiah). The saham tersebut di Bursa Efek Jakarta (BEJ) dan Bursa shares were listed on the Jakarta Stock Exchange Efek Surabaya (BES) pada tanggal 28 Juli 1997. (JSX) and the Surabaya Stock Exchange (BES) on July 28, 1997.

Pada tanggal 29 Juli 1999, Perseroan memperoleh On July 29, 1999, the Company obtained the effective pernyataan efektif dari Ketua Bapepam dengan Surat statement approval from the Chairman of Bapepam No.S-1379/PM/1999 untuk melakukan Penawaran pursuant to Letter No.S-1379/PM/1999 to conduct Umum Terbatas I (PUT I) dengan hak memesan efek Right Issue I with Preemptive Right of 4,004,000,000 terlebih dahulu sejumlah 4.004.000.000 (empat (four billion four million) Series B shares with nominal miliar empat juta) saham Seri B dengan nilai nominal value Rp. 100 (one hundred rupiah) and an offering Rp.100 (seratus rupiah) dan harga penawaran Rp price of Rp 200 (two hundred rupiah) per share with 200 (dua ratus rupiah) per saham dengan total dana total proceeds of offering is Rp.800,800,000,000 hasil PUT I sebesar 800.800.000.000 (delapan ratus (eight hundred billion eight hundred million rupiah) miliar delapan ratus juta rupiah), yang dicatatkan di which were listed on JSX and SSX on August 3, 1999. BEJ dan BES pada tanggal 3 Agustus 1999.

Berdasarkan hasil Rapat Umum Pemegang Saham Based on the Resolutions of the Extraordinary Luar Biasa (RUPSLB) yang diselenggarakan tanggal General Meeting of Shareholders (EGM) held on July 19 Juli 2006 yang Berita Acara Rapatnya dimuat 19, 2006 and the Minutes of which was contained dalam akta No.25 tanggal 19 Juli 2006 dan dinyatakan in Deed No. 25 dated July 19, 2006 and restated in dalam Akta No.26 tanggal 19 Juli 2006 dan Akta Deed No. 26 dated July 19, 2006 and Deed No. 27 No.27 tanggal 27 Juli 2006 yang dibuat dibuat oleh dated July 27 2006 drawn up by and before Notary dan dihadapan Notaris Fathiah Helmi, S.H. Akta Fathiah Helmi, SH., Deed No. 26 dated July 19, 2006 No.26 tanggal 19 Juli 2006 mengenai perubahan on the change of the Company's name to PT Sentul nama Perseroan menjadi PT Sentul City Tbk telah City Tbk was approval by the Minister of Law and mendapatkan persetujuan dari Menteri Hukum dan Legislation of the Republic of Indonesia on July 20, Perundang-undangan Republik Indonesia tanggal 2006 No. C-21 373 HT.01.04.TH.2006 and Deed No. 20 Juli 2006 No.C-21373 HT.01.04.Th.2006 dan Akta 26 dated July 19, 2006 and Deed No. 27 dated July No.26 tanggal 19 Juli 2006 dan Akta No.27 tanggal 27, 2006 both regarding the increase of the 27 Juli 2006 mengenai peningkatan modal dasar authorized capital and reverse stock namely the dan reverse stock yaitu melakukan pengurangan reduction of the number of subscribed shares so jumlah saham yang ditempatkan sehingga nilai that the nominal value of Series A and B shares nominal saham Seri A dan B meningkat masing- increased from Rp 500 and Rp 100 to Rp 2,000 and masing dari Rp 500 dan Rp 100 menjadi Rp 2.000 Rp 400 respectively were approved by the Minister dan Rp 400 telah mendapat persetujuan dari of Law and Legislation of the Republic of Indonesia Menteri Hukum dan Perundang-undangan Republik on July 28, 2006 No.C-22166.HT.01.04.Th.2006. Indonesia tanggal 28 Juli 2006 No.C- 22166.HT.01.04.Th.2006.

Pada tanggal 7 September 2006, Perseroan On September 7, 2006 the Company obtained memperoleh pernyataan efektif dari Ketua effective statement approval from the Chairman of Laporan Tahunan 2020 Annual Report 41

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Bapepam-LK dengan Surat No. S-1821/BL/2006 Bapepam-LK pursuant to Letter No.S-1821/BL/2006 untuk melakukan Penawaran Umum Terbatas II (PUT to conduct Right Issue II (PUT II) with Preemptive II) dengan Hak Memesan Efek Terlebih Dahulu Rights of 8,151,000,000 billion Series C shares with (HMETD) sejumlah 8.151.000.000 saham Seri C a nominal value of Rp 100 (one hundred rupiah) dengan nilai nominal Rp 100 (seratus rupiah) dan and an offering price of Rp 100 (one hundred rupiah) harga penawaran Rp. 100 (seratus rupiah) per saham per share and listed on Jakarta Stock Exchange on dan dicatatkan pada Bursa Efek Indonesia pada September 22, 2006. tanggal 22 September 2006.

Pada tanggal 5 Oktober 2009, Perseroan kembali On October 5, 2009 the Company listed its shares mencatatkan sahamnya yang merupakan hasil following the Capital Increase without Preemptive Penambahan Modal Tanpa Hak Memesan Efek Rights of 507,508,598 series C shares with a nominal Terlebih dahulu sebanyak 507.508.598 saham Seri value of Rp 100 (one hundred rupiah) and and an C dengan nilai nominal Rp. 100 (seratus rupiah) dan offering price of Rp 160 (one hundred and sixty harga penawaran Rp.160 (seratus enam puluh rupiah) rupiah) per share, on December 31, 2009 all shares per saham, sehingga pada tanggal 31 Desember of the Company listed on the Indonesia Stock 2009 seluruh saham Perseroan yang tercatat pada Exchange were 10,017,008,598 shares. Bursa Efek Indonesia sebanyak 10.017.008.598.

Pada tanggal 29 Desember 2009, Perseroan On December 29, 2009 the Company obtained the memperoleh pernyataan efektif dari Ketua effective statement approval from the Chairman of Bapepam-LK dengan Surat No. S-11066/BL/2009, Bapepam-LK pursuant to Letter No.S- untuk melakukan Penawaran Umum Terbatas III 11066/BL/2009 to conduct Right Issue III (PUT III) (PUT III) dengan Hak Memesan Efek Terlebih Dahulu with Preemptive Rights of 15,025,512,897 Series C (HMETD) sejumlah 15.025.512.897 saham Seri C shares with nominal value of Rp 100 (one hundred dengan nilai nominal Rp 100 (seratus rupiah) dan rupiah) and an offering price of Rp 100 (one hundred harga penawaran Rp.100 (seratus rupiah) per saham, rupiah) per share and maximum of 3,505,953,009 dan sebanyak-banyaknya 3.505.953.009 Waran Seri Series I Warrants and listed on Indonesia Stock I serta dicatatkan pada Bursa Efek Indonesia pada Exchange on January 14, 2010. tanggal 14 Januari 2010.

Pada tanggal 19 Agustus 2011, Perseroan kembali On August 19, 2011 the Company listed its shares mencatatkan sahamnya yang merupakan hasil following Capital Increase without Preemptive Rights Penambahan Modal Tanpa Hak Memesan Efek of 2,854,000,000 series C shares with a nominal Terlebih Dahulu sebanyak 2.854.000.000 saham value of Rp 100 (one hundred rupiah)per share and Seri C dengan nilai nominal Rp. 100 (seratus rupiah) an offering price of Rp 117 (one hundred and dan harga penawaran Rp.117 (seratus tujuh belas seventeen rupiah) per share, so on December 31, rupiah) per saham, sehingga pada tanggal 31 2011 all shares of the Company listed on the Desember 2011 seluruh saham Perseroan yang Indonesia Stock Exchange were 31,396,905,010 tercatat pada Bursa Efek Indonesia sebanyak shares. 31.396.905.010.

Pada tanggal 29 Desember 2015, Perseroan kembali On December 29, 2015, the Company once again mencatatkan sahamnya yang merupakan hasil listed its shares which were the result of Capital Penambahan Modal Tanpa Hak Memesan Efek Increase without Pre-emptive Rights in the amount Terlebih Dahulu sebanyak 3.139.690.500 saham Seri of 3,139,690,500 series D shares with a nominal D dengan nilai nominal Rp. 50 (lima puluh rupiah) value of Rp 50 (fifty rupiah) per share and offering dan harga penawaran Rp.75 (tujuh puluh lima rupiah) nominal Rp 75 (seventy rupiah) per share, so that per saham, sehingga pada tanggal 31 Desember as of December 31, 2015, the total amount of the 2015, seluruh saham Perseroan yang tercatat pada Company's shares registered with the Indonesia Bursa Efek Indonesia sebanyak 34.536.595.510. Stock Exchange was 34,536,595,510. 42 Laporan Tahunan 2020 Annual Report

Kronologi Pencatatan Saham Perseroan Chronological Shares Listing

Pada tanggal 6 April 2017, Perseroan kembali On April 6, 2017, the Company once again listed its mencatatkan sahamnya yang merupakan hasil shares which were the result of Capital Increase Penambahan Modal Tanpa Hak Memesan Efek without Pre-emptive Rights in the amount of Terlebih Dahulu sebanyak 20.721.957.306 saham 20,721,957,306 of Series C shares with a nominal Seri C dengan nilai nominal Rp. 100 (seratus rupiah) value of Rp. 100 (one hundred rupiah) and offering dan harga penawaran Rp.112 (seratus duabelas price of Rp.112 (one hundred and twelve rupiah) per rupiah) per saham dan Pelaksanaan Waran Seri 1 share and Implementation of the New Series 1 Baru 11.825.008.266 saham, sehingga kerenanya per Warrants 11,825,008,266 shares, so that as of 31 Desember 2020, saham tercatat Perseroan December 31, 2020, the Company's listed its shares menjadi 67.083.561.082 saham dengan nilai Rp. in the amount of 67,083,561,082 shares with a value 7.530.921.583.200. of Rp. 7,530,921,583,200.

Resume Pencatatan Saham Perseroan Di Bursa Efek Indonesia Listing of the Company's Shares on the Indonesian Stock Exchange

Tanggal Pencatatan Aksi Korporasi Jumlah Saham Akumulasi di Bursa Jumlah Saham Jumlah Nominal

Corporate Action Listed Total Shares Accumulated Nominal Value Total Shares (Rp)

Penawaran Perdana 28 Juli 1997 1.430.000.000 1.430.000.000 715.000.000.000 Initial Public Offering July 28, 1997 Penawaran Umum Terbatas I 3 Agustus 1999 4.004.000.000 5.434.000.000 1.115.400.000.000 Rights Issue 1 August 3, 1999 Pengurangan Jumlah Saham 1 Agustus 2006 1.358.500.000 1.115.400.000.000 Reverse Stock August 1, 2006 Penawaran Terbatas II 22 September 2006 8.151.000.000 9.509.500.000 1.930.500.000.000 Rights Issue 2 September 22, 2006 Penambahan Modal Tanpa Hak 05 Oktober 2009 507.508.598 10.017.008.598 1.981.250.859.800 Memesan Efek Terlebih Dahulu October 5, 2009 Capital Increase Without Preemptive Rights Penawaran Terbatas III 14 Januari 2010 18.525.896.412 28.542.905.010 3.833.840.501.000 (Termasuk Pelaksanaan Waran Seri 1) January 14, 2010 Rights Issue 3 (Including Waran Seri 1 Excercise) Penambahan Modal Tanpa Hak 19 Agustus 2011 2.854.000.000 31.396.905.010 4.119.240.501.000 Memesan Efek Terlebih Dahulu August 19, 2011 Pre-emptive rights issue Penambahan Modal Tanpa Hak 29 Desember 2015 3.139.690.500 34.536.595.510 4.276.225.026.000 Memesan Efek Terlebih Dahulu December 29, 2015 Pre-emptive rights issue Penawaran Umum Terbatas IV 6 April 2017 20.721.957.306 55.258.552.816 6.348.420.756.600 Rights Issue 4 April 6, 2017 Pelaksanaan Waran Seri 1 Baru 11.825.008.266 67.083.561.082 7.530.921.583.200 Implementation of the New 1 Series Warrant Laporan Tahunan 2020 Annual Report 43

Highlights Management Reports Company Profile Supporting Facilities Management Discussion & Analysis Corporate Governance Corporate Social Responsibility

Profesi dan/atau Lembaga Penunjang Pasar Modal Profession and/or Capital Market Supporting yang jasanya dipergunakan Perseroan untuk tahun Institutions which services are used by the Limited 2020 antara lain sebagai berikut : Liability Company for 2020 among others as follows:

Profesi atau Lembaga Penunjang Pasar Modal Alamat

Profession or Capital Supporting Institutions Address

Akuntan Publik/Public Accountant Prudential Tower lantai 17 TANUBRATA SUTANTO FAHMI BAMBANG & Rekan Jl. Jend.Sudirman Kav.79, Jakarta 12910, Indonesia Member of BDO International Limited Telp.+62 21 5795 7300 Fax. +62 21 5795 7301

Penilai/Appraisal Jl. Balikpapan I No.6, RT.7/RW.6, Petojo Utara KJPP Felix Sutandar & Rekan Kecamatan Gambir, Kota Jakarta Pusat Daerah Khusus Ibukota Jakarta 10130 Telp.+62 21 6385 1341 Fax. +62 21 6385 1340

Notaris/Notary Jl. Pengadilan No. 23A Elizabeth Karina Leonita, SH., M.Kn. Bogor Tengah 16121, Jawa Barat, Indonesia Telp. +62 251 8325 224

Biro Administrasi Efek/Security Administrations Bureau Gedung Plaza Sentral PT RAYA SAHAM REGISTRA Jl. Jend. Sudirman Kav. 47-48 Jakarta 12930 Telp.+62 21 252 6666 Fax. +62 21 252 5028

Jasa yang diberikan : Pemeliharaan Data Pemegang Saham dll. Fee per tahun adalah Rp.120.500.000.- Services provided: Maintenance of Shareholder Data, etc. Fee per year is Rp 120,500,000. 44

Fasilitas Pendukung Supporting Facilities

46 Laporan Tahunan 2020 Annual Report

Fasilitas Pendukung Supporting Facilities

Taman Budaya Edutainment Center Sekolah Islam Terpadu Fajar Hidayah

Sekolah Nasional Plus BPK Penabur

Kompleks Andalusia Islamic Centre Sentul City International Boarding School Pelita Harapan Laporan Tahunan 2020 Annual Report 47

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Untuk menunjang konsep Kota Mandiri, telah To support self-sustaining town concept, the Company dikembangkan berbagai fasilitas pendukung yang has established and built a wide range of supporting memberikan nilai tambah bagi kawasan Sentul City, facilities to give more added value to Sentul City, as antara lain sebagai berikut : follows:

1. Taman Budaya menjadi Taman Budaya 1. Culture Park as Edutainment Cater Culture Park Edutainment Center (TBEC) (TBEC) Berada dalam area 5 Ha, TBEC merupakan fasilitas Built on a 5 hectare area, TBEC provides public rekreasi dan pendidikan terpadu yang sarat dengan facility and integrated education with fully of berbagai fasilitas menarik. TBEC mempunya 4 interesting facilities.TBEC has 4 center of activities, pusat kegiatan (center) yaitu: namely:

1. Adventure Center : berisi kegiatan Eko Wisata, 1. Adventure Center: Eco-Tour, Out bound, Out bound, Experimental learning. Experimental learning. 2. Green Center : terdiri dari Nature Center, Animal 2. Green Center: Nature Center, Animal Ecosystem. Ecosystem. 3. Cultural Center: Arts and Cultures learning 3. Cultural Center : fasilitas pembelajaran Seni dan facilities, such as preparing batik, music, etc. Budaya, seperti membatik, musik. 4. Facility Center: integrated facility, including 4. Facility Center : fasilitas terpadu, termasuk accommodation, restaurant and gathering. akomodasi, restaurant dan tempat gathering.

2. Fasilitas Pendidikan 2. Education Facilities

2.1. International Boarding School Pelita Harapan 2.1. Pelita Harapan International Boarding School Yayasan Pendidikan Pelita Harapan telah Pelita Harapan International Boarding School membangun dan mengelola sekolah Pelita Yayasan Pendidikan Pelita Harapan has built Harapan di atas tanah seluas 10 hektar, yang and managed Pelita Harapan International telah beroperasi secara komersial pada tahun Boarding School on area of 10 hectare, 1993. commercially operated since 1993.

Sekolah ini mendidik siswa tingkat Sekolah The school includes elementary school until Dasar hingga Sekolah Menengah Umum senior high school, adopting Indonesian dengan menggunakan kurikulum Indonesia curriculum with Bahasa Indonesia and English dengan bahasa pengantar Indonesia dan as media of communication. Inggris.

2.2. Sekolah Islam Terpadu Fajar Hidayah 2.2. Fajar Hidayah Integrated Islamic School Dengan luas areal 8.000 m2, saat ini sudah The school is built on an area of 8,000 m2, dibangun Sekolah Dasar sampai dengan consisting of Elementary School to Junior High Sekolah Menengah Pertama dan akan School, and it is planned to build Senior High dikembangkan sampai Sekolah Menengah School. Fajar adopts national plus curriculum, Umum. Fajar Hidayah menggunakan based on Islam. kurikulum nasional plus, yang berbasis Islam.

2.3. Sekolah Amal Kasih 2.3. Sekolah Amal Kasih Dimiliki oleh Yayasan Amal Kasih, sekolah Owned by Yayasan Amal Kasih, the school is ini didirikan di areal seluas 2.000 m2, dan built on an area of 2,000 m2, completed with dilengkapi dengan berbagai fasilitas learning facilities for Kindergarten and pendidikan untuk tingkat Taman Kanak-Kanak Elementary School students. sampai dengan Sekolah Dasar.

2.4 Sekolah Nasional Plus BPK Penabur 2.4. Sekolah Nasional Plus BPK Penabur Sekolah Kristen yang dikelola oleh Badan The Christian School managed by Badan Pendidikan Kristen cabang Bogor ini, Pendidikan Kristen (Christianity Education merupakan sekolah unggulan dengan Board) Bogor Branch, which is a superior kurikulum yang sangat maju. Perkembangan school with very advanced curriculum. Fast penambahan jumlah siswa yang demikian growing students within 2 years as of the pesat sejak beroperasi pada tahun 2008, operation in 2008, so the development can sehingga pembangunan terus dilanjutkan be continued and additional land up to 1 Ha. disertai penambahan luas lahan hingga The school includes preschool, kindergarten 48 Laporan Tahunan 2020 Annual Report

Fasilitas Pendukung Supporting Facilities

mencapai hampir 1 Ha. Sekolah ini mendidik and elementary school while junior high siswa tingkat Kelompok Bermain, Taman school is planned to be opened in the Kanak-Kanak, Sekolah Dasar dan untuk academic year of 2012/2013. Sekolah Menengah Pertama akan mulai dibuka tahun ajaran 2012/2013.

2.5 Kompleks Sentul Islamic Centre 2.5. Sentul City Islamic Center Sarana ini merupakan realisasi Sentul City This is a realization of Sentul City's dalam penyediaan fasilitas pendidikan dan commitment to providing Islamic education keagamaan. Fasilitas pendidikan dan and religious facilities. It will be managed keagamaan Islami ini dikelola oleh Yayasan byYayasan Islamic Center Sentul City which Pusat Islam Andalusia Bukit Sentul, yang is collaboration between Yayasan Tazkia, merupakan kerjasama antara Yayasan Yayasan Daarut Tauhid,Yayasan Fajar Tazkia, Yayasan Daarut Tauhid, Yayasan Hidayah and PT. Sentul City Tbk. Fajar Hidayah dan PT. Sentul City Tbk.

Fasilitas ini terdiri atas 2 (dua) kegiatan It is divided into 2 (two) main activities, utama yaitu Islamic Center dengan Masjid namely Islamic Center with its Andalusia Andalusianya dan serta Sekolah Tinggi Mosque and Sekolah Tinggi Ekonomi Islam Ekonomi Islam (STEI) Tazkia. Total lahan (STIE) Tazkia. Its construction has been 80% kompleks ini adalah sekitar 2,4 hektar. occupying an area of ± 2,4 hectare.

3. Sentul Highlands Golf Club 3. Sentul Highlands Golf Club Lapangan golf 18 holes ini semula bernama This 18 holes golf court was formerly named Padang Golf Satelindo, lalu berubah menjadi Padang Golf Satelindo, and then renamed as Padang Golf Mentari dan saat ini menjadi Sentul Padang Golf Mentari and today it is named Sentul Highlands Golf Club, dirancang oleh Gary Player Highlands Golf Club, designed by Gary Player yang merupakan salah satu pegolf professional who is a professional golfer and internationally- dan arsitek lapangan golf dengan reputasi reputable golf court architect. Built on an area internasional. Dibangun di atas tanah seluas of ±84 hectare, this golf court is equipped with kurang lebih 84 hektar, padang golf ini dilengkapi club house, restaurant, VIP meeting room, dengan club house, restoran, VIP meeting room, swimming pool and tennis court. kolam renang dan lapangan tenis.

4. Transportasi Umum 4. Public Transportation Sarana transportasi bagi karyawan, para Transportation facilities for employees, house penghuni perumahan serta masyarakat umum tenants and public communities from or to Sentul dari atau menuju kawasan Sentul City, saat ini City are currently made available through the telah dibuka jalur APTB yang menghubungkan opening of Integrated Border Transit Busway Sentul City ke tiga Terminal Utama Jakarta yaitu access connecting Sentul City to three Main Blok M, Grogol dan Rawamangun p.p. Moda Terminals in Jakarta e.g. Blok M, Grogol and transportasi lain yang masuk ke kawasan Sentul Rawamangun roundtrip. Other transportation City antara lain: modes to Sentul City area are; • Cileungsi, Cibubur, Citeureup, Sentul City, • Cileungsi, Cibubur, Citeureup, Sentul City, Laladon, Laladon, Bubulak, PP rute trayek 05; Bubulak, Roundtrip Trajectory Route 05; • Cileungsi, Cibubur, Citeureup, Sentul City, Ciawi • Cileungsi, Cibubur, Citeureup, Sentul City, Ciawi PP rute trayek T02; Roundtrip trajectory route T02; • Bogor- Sentul City PP rute trayek Trans Pakuan; • Bogor-Sentul City Trans Pakuan Roundtrip Trajectory • Babakan Madang, Sentul City, Kandang Roda Route; (Jalan Raya Jakarta Bogor) rute trayek 044A. • Babakan Madang, Sentul City, Kandang Roda (Jakarta - Bogor Street) 044A trajectory route.

5. Pusat Penanggulangan dan Pembinaan Narkoba 5. Integrated Drugs Patient Care and Rehabilitation Terpadu Center Dimiliki dan dikelola oleh Yayasan Kasih Mulia Owned and managed by Yayasan Kasih Mulia yang dipimpin oleh Romo Lambertus Somar, with Romo Lambertus Somar, MSc, being MSc, Pusat Penanggulangan dan Pembinaan director, the Integrated Drugs Patient Care and Narkoba Terpadu bernama Kedhaton Parahita Rehabilitation Center called Kedhaton Parahita ini dibangun di atas areal seluas 2 hektar dengan is built on an area of 2 hectare consisting of 2 bangunan yang terdiri dari 2 bagian, yaitu Panti buildings, namely Rehabilitation House and five- Rehabilitasi dan Wisma retreat berbintang lima. star retreat house. Laporan Tahunan 2020 Annual Report 49

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6. Mall Bellanova 6. Mall Bellanova Dibangun di areal seluas 43.000 m2 dengan luas Built on an area of 43,000 m2 with building extent bangunan 12.000 m2, Mall Bellanova merupakan of 12,000 m2, Mall Bellanova is a country-style pusat perbelanjaan bernuansa country berlokasi shopping center located on a strategic area, sangat strategis yaitu di pinggir tol Jagorawi namely at the edge of Jagorawi toll road which dengan akses pintu tol sendiri. Selain dilengkapi is accessible from the tollgate. Equipped with dengan food court, Hypermart, Cinema 21, billiard food court, Hypermart, Cinema 21, billiard Center Center, area entertainment keluarga dan ATM and family entertainment area and ATM center. Center. Mall ini juga menawarkan konsep unik This mall offers a unique concept supported with karena ditunjang pula dengan rekreasi outdoor outdoor recreation in the mountain panorama. di alam pegunungan.

7. Keamanan 7. Security Sejak tahun 2005, Perseroan telah mengadakan Since 2005, the company upgraded its security pembaruan manajemen keamanan dengan management with a commitment to increasing komitmen untuk meningkatkan penjagaan security aspect and providing 24-hours protection keamanan dan melindungi penghuni serta for residents and visitors of Sentul City. It is pengunjung di kawasan Sentul City selama 24 jam. supported by qualified and skilled security Hal tersebut ditunjang oleh anggota security yang personnel who are assigned to maintain the security terseleksi, terampil dan terpadu, yang ditunjuk within Sentul City area. sebagai pelaksana pelayananan keamanan di kawasan Sentul City.

8. SPBU Pertamina 8. Pertamina Gas Station Merupakan sarana pengisian bahan bakar bagi Serving as a filling gas station for residents and penghuni dan pengunjung Sentul City, yang visitors of Sentul City, equipped with repair and dilengkapi dengan bengkel, perawatan dan kios maintenance shop and lube kiosk. With a total minyak pelumas. Keberadaan SPBU seluas total 1 area of 1 ha, this filling gas station will allow ha ini, mempermudah warga dan pengunjung residents and visitors of City to fuel their vehicles Sentul City untuk mengisi bahan bakar dengan conveniently. lancar dan nyaman.

9. Terminal Bis 9. Bus Station Terminal bis ini dibangun untuk melayani warga The bus terminal was built to serve Sentul City Sentul City yang menggunakan transportasi umum residents who use public transportation to facilitate untuk kemudahan mobilitas warga dan pengunjung the mobility of residents and visitors both to Jakarta baik ke Jakarta maupun ke Bogor dan sebaliknya. and Bogor and vice versa.

Secara internal kawasan, moda transportasi umum The public transportation mode is internally served dilayani oleh kendaraan angkutan mini yang secara by mini transport vehicles with scheduled operation terjadual mengelilingi seluruh penjuru kawasan all over the corners of Sentul City area. Sentul City.

10. Water Treatment Plant (WTP) 10. Water Treatment Plant (WTP) Dibangun di atas lahan seluas 2 hektar sebagai Built on an area of 2 hectare with water flow of prasarana utama bagi kawasan dengan debit 80 80 liter/sec. This WTP is supplied by rainwater liter/detik. WTP ini memperoleh bahan baku dari and river during rainy season, where the water air hujan dan sungai pada musim penghujan, yang is accommodated on a 4 hectare reservoir. This ditampung pada danau seluas 4 hektar. Pengolahan treatment plant produces high quality potable ini menghasilkan standar mutu air yang tinggi dan water and distributed to each house via siap diminum dan disalurkan ke setiap rumah gravitational system. melalui sistim gravitasi.

Selain sumber air dari WTP ini, kawasan Sentul In addition to this WTP, Sentul City is supplied City juga mendapatkan pasokan PDAM Bogor from PDAM Bogor via company-invested melalui jaringan pipa air yang diinvestasikan oleh pipelines with investment value of Rp 22 billion, Perseroan dengan total nilai investasi Rp 22 miliar, having capacity of 200 liter per second. yang memiliki kapasitas 200 liter per detik.

11. Sewage Treatment Plant 11. Sewage Treatment Plant Sewage Treatment Plant (STP) ini merupakan Sewage Treatment Plant (STP) is a system of sistem Pengolahan Air Kotor Buangan Rumah Household Waste Water Treatment which is built 50 Laporan Tahunan 2020 Annual Report

Fasilitas Pendukung Supporting Facilities

Tangga yang dibangun di atas lahan seluas 14.860 on an area of 14,860 square meters, with a meter persegi, dengan kapasitas 1.200m3/hari. capacity of 1,200m3 / day. Effluent from STP can Effluen dari STP dapat dimanfaatkan untuk be used for watering the park. penyiraman taman.

12. Indomart 12. Indomart Merupakan fasilitas belanja tingkat lingkungan yang This is residential-level shopping facility to allow memudahkan warga kompleks perumahan untuk residents to obtain their daily needs. It is built berbelanja berbgai kebutuhan pokok atau harian. near Alam Fantasia, and equipped with wide Fasilitas ini dibangun di dekat Alam Fantasia, dan parking area. memiliki lapangan parkir yang luas.

13. Ruko 13. Shophouse Ruko merupakan sarana usaha dan sekaligus dapat It serves as store with living space on the upstair berfungsi sebagai rumah tinggal dilantai atasnya. floor. There are about 340 ruko built in Sentul Di kawasan Sentul City telah dibangun sekitar 340 City with different sizes and types consisting of ruko dengan berbagai ukuran dan tipe di 4 kluster 4 clusters (Plaza Niaga 1, Plaza Niaga 2, Plaza (Plaza Niaga 1, Plaza Niaga 2, Plaza Amsterdam Amsterdam dan Plaza Victoria). Business activities dan Plaza Victoria). Usaha-usaha yang menempati taking place in that ruko includes restaurant, bar, ruko-ruko tersebut antara lain rumah makan, bar, cafe, shops, offices, clinic, pharmacy, salon, gym, café, toko-toko, kantor, klinik, apotik, salon, gym, reflexology and other undertakings. pijat reflekxiology dan aneka usaha lainnya.

14. Rainforest Hotel 14. Rainforest Hotel Spa yang dilengkapi dengan fasilitas 33 kamar, It is a spa consisting of 33 rooms, swimming pool, kolam renang, karaoke, café & resto, function room karaoke, café and restaurant, function room and dan meeting room yang juga dapat dipergunakan meeting room that can also be used for birthday/ untuk pesta ulang tahun/perkawinan. wedding party.

15. Sentul International Convention Center (SICC) 15. Sentul International Convention Center (SICC) Gedung serba guna ini memiliki kapasitas 12.000 This multipurpose building accommodates 12,000 orang dan telah beroperasi sejak Desember 2008. persons and started operation since December Berbagai kegiatan yang dapat dilaksanakan di 2008. Many activities can be held in this place, Gedung ini adalah konser musik, seminar dan including music concert, seminar, etc. lain-lain.

Marketing Gallery Laporan Tahunan 2020 Annual Report 51

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16. Sentul City Off Road Park 16. Sentul City Off Road Park Difokuskan pada pelatihan off road dan otomotif It emphasizes on the off road automotive training ditambah dengan penyelenggaraan acara-acara plus attractive entertainments. The Sentul City Off yang dapat menarik dan menghibur. Sentul City Road Park occupies an area of approximately 10 Off Road Park tersebut menempati areal seluas hectare. lebih kurang 10 hektar.

17. Marketing Gallery 17. Marketing Gallery Dengan luas bangunan 2.800 m2 diatas lahan 1 Ha, With the building extent of 2,800 m2 upon 1 Ha MG sudah mulai beroperasi pada awal tahun 2010. land, MG commenced operating at the early 2010. Gedung ini juga berfungsi sebagai kantor The Building is functioned as integrated operational operasional terpadu untuk PT Sentul City Tbk. office for PT Sentul City Tbk. Completed with Dengan dilengkapi taman tematik ”Knowledge thematic part "Knowledge Garden" and connected Garden” dan terkoneksi dengan Eco Park, maka with Eco Park, the building is one of the icon of gedung ini menjadi salah satu icon pengembangan Sentul City development representing City of Sentul City yang merepresentasikan City of Innovation with 4 pillars of its development. Innovation dengan 4 pilar pengembangannya.

18. Jalan Tol Bogor Outer Ring Road 18. Bogor Outer Ring Road Dengan beroperasinya jalan tol sepanjang ± 3,8 With the operation of toll road for the length of kilometer ini merupakan jalan alternatif menuju ±3,8 kilometers which is an alternative way to Sentul Sentul City dari Bogor maupun sebaliknya, sehingga City from Bogor or vice versa, so the range from jarak tempuh dari Sentul City ke Kota Bogor ± hanya Sentul City to Bogor City will only take ± 5 minutes 5 menit dan diperkirakan akan meningkatkan lalu- and expected to start the traffic from and to Sentul lintas dari dan ke Sentul City menjadi 23.000 City into 23,000 vehicles per day. kendaraan per hari.

19. SICC Office Tower 19. SICC Office Tower Gedung bertingkat 12 lantai dengan luas ±7.000 This 12-storey building with an area of ± 7,000 meter persegi ini mulai dibangun bulan Oktober square meters was built in October 2008 and 2008 dan beroperasi 2010. started operation in 2010.

Sentul International Convention Center (SICC) Dealer Mobil Honda

Ecoart Park Sentul Highlands Golf Club 52 Laporan Tahunan 2020 Annual Report

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20.Bank 20.Banks Bank yang telah membuka kantor di Kawasan Banks that are available in Sentul City area are Sentul City adalah Bank CIMB Niaga, Bank Jasa Bank CIMB Niaga, Bank Jasa Jakarta, Bank Mandiri, Jakarta dan Bank Mandiri, Bank Syariah Mandiri, Bank Syariah Mandiri, BRI, and BNI Syariah. BRI, BNI Syariah & Bank BNI.

21. Redy Rahadian Studio 21. Redy Rahadian Studio Studio pembuatan patung dari seniman Redy Sculpture studio owned by artist Redy Rahadian Rahadian

22. Harris Hotel 22. Harris Hotel Harris Hotel merupakan Hotel bintang 3+ yang Harris Hotel is a 3+ star hotel which is built in the dibangun di lokasi paling strategis di Central most strategic location at Central Bussiness Bussiness Districk Sentul City, tidak jauh dari pintu District Sentul City not far from Sentul City toll masuk tol Sentul City. Hotel yang berada pada entrance gate. The hotel occupying an area of lahan seluas 12.498 m2 ini pada tahap pertama 12,498 m2 has operated 160 rooms during its first telah memiliki 160 kamar. Dengan beroperasinya phase. The existence of this hotel completes the Hotel tersebut semakin melengkapi fasilitas yang existing facilities of Sentul City. berada kawasan Sentul City.

23. Ecoart Park 23. Ecoart Park Bersebelahan dengan lokasi Pasar Ah Poong Situated adjacent to Ah Poong Market Sentul Sentul City, Ecoart Park merupakan taman City, Ecoart Park is an educational park that pendidikan yang dilengkapi dengan permainan comes with games for scientific education yang memiliki makna pendidikan ilmiah dengan intended for children to learn in fun way because cara yang menyenangkan karena disamping besides learning children can play with this belajar anak anak dapat bermain dengan equipment. Combined with works of art that peralatan ini. Dipadukan dengan hasil karya seni have high artistic value. yang mempunyai nilai seni yang tinggi.

24. Pasar Ah Poong Sentul City 24. Ah Poong Market Sentul City Dengan memanfaatkan potensi alam Sungai Cikeas Taking the advantage of natural potentis of Cikeas dipadukan dengan kekayaan resep tradisional River and in combination with Indonesian Indonesia, Pasar Ah Poong Sentul City menjadi traditional recipes Ah Poong Market Sentul City tujuan wisata baru di kawasan Sentul City dan has become new tourist destination in Sentul merupakan Pasar Apung pertama di wilayah City and is the first Floating Market in the Greater Jabodetabek. Jakarta area.

25. Hotel Neo + Green Savana 25. Neo + Green Savana Hotels Berlokasi di sebelah Taman Budaya, Hotel ini Situated next to the Cultural Park the Hotel memiliki konsep green roof yang tidak dimiliki adopts green roof concept which cannot be oleh berbagai hotel lain. Menyediakan fasilitas found in other hotels. With 3 star facilities the hotel bintang 3 dengan jumlah 70 kamar dan Hotel has a total of 70 rooms and a meeting ruangan meeting dengan kapasitas 300 pax . room with a capacity of 300 pax.

26.Rumah Sakit Pertamedika Sentul 26. Pertamedika Sentul Hospital Rumah sakit internasional berlokasi di CBD Sentul This is an International hospital situated in CBD City, seluas 2,5 hektar untuk tahap I. Sentul City occupying 2.5 hectares area during phase I.

27. Giant Extra 27. Giant Extra Jaringan toko swalayan yang memiliki banyak A self-service stores network throughout Indonesia. cabang di Indonesia. Selain department store In addition to operating a department store which yang menjual produk sandang dan makanan, sells clothing and foods Giant is also operating a Giant juga memiliki supermarket atau pasar supermarket that sells clothing and basic necessities swalayan yang menjual kebutuhan sandang dan which has been operating since December 20, barang kebutuhan hidup sehari-hari, mulai 2013. beroperasi 20 Desember 2013.

28. Pasar Bersih 28. Pasar Bersih Pasar yang menyediakan berbagai kebutuhan The market provides a variety of basic daily pokok sehari-hari termasuk berbagai macam needs, including a wide variety of snacks and jajanan dan menu untuk sarapan. menus for breakfast. Laporan Tahunan 2020 Annual Report 53

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Harris Hotel KFC Restaurant

Rumah Sakit EMC Sentul

Shell Gas Station JalanJalan TolTol BogorBogor OuterOuter RingRing RoadRoad 54 Laporan Tahunan 2020 Annual Report

Fasilitas Pendukung Supporting Facilities

AEON MALL

29. Universitas Trisakti 29. Trisakti University Kampus FEB Trisakti - Sentul City, beralamat di Trisakti Faculty of Economics & Business Campus Jl. MH. Thamrin, Citaringgul, Babakan Madang, - Sentul City, located at Jl. MH. Thamrin, Bogor, Jawa Barat 16810. Citaringgul, Babakan Madang, Bogor, West Java 16810

30.The Alana Hotel & Conference Center - Sentul 30.The Alana Hotel & Conference Center - Sentul City City The Alana Hotel & Conference Center - Sentul The Alana Hotel & Conference Center - Sentul City adalah hotel dengan brand Alana pertama City is the first hotels with the Alana brand in di Jawa Barat. Hotel ini merupakan tujuan bisnis West Java. This hotel is a business and leisure dan liburan yang menonjolkan pesona budaya destination that highlights the traditional dan desain tradisional Jawa, terletak strategis di Javanese cultural and design charm, strategically daerah yang terkenal dan berkembang di Sentul located in the famous and developing area of City, hanya 30 menit dari Jakarta dan 10 menit Sentul City, only 30 minutes from Jakarta and 10 dari Bogor. minutes from Bogor.

Memiliki 271 kamar yang di desain khusus yang It has 271 specially designed rooms which are terbagi kedalam 4 tipe yaitu; Deluxe, Deluxe divided into 4 types; Deluxe, Deluxe with Pool dengan Pemandangan Kolam Renang, Suite dan View, Suite and President Suite. All rooms are President Suite. Semua kamar kami adalah the right places to stay for rest, make you tempat menginap yang tepat untuk beristirahat, comfortable and restful when sleeping at night. membuat anda nyaman dan nyenyak ketika tidur The hotel is equipped with meeting rooms, di malam hari. Hotel ini dilengkapi dengan ruang swimming pools, children's playgrounds, sky rapat, kolam renang, tempat bermain anak, sky lounge, bakery corner, fitness center and spa. lounge, bakery corner, fitness center dan spa. Laporan Tahunan 2020 Annual Report 55

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IKEA The Alana Hotel & Conference Center

Hotel Neo + Green Savana Universitas Trisakti

31. IKEA 31. IKEA IKEA Sentul City telah dibuka dengan menempati IKEA Sentul City has been opened by occupying lahan seluas 15.345 meter persegi. Toko furnitur an area of 15,345 square meters. This Swedish asal Swedia ini menghadirkan 30 inspirasi ruang furniture store presents 30 inspirational spaces untuk menata rumah dan menjual sekitar tujuh to organize a home and sell around seven ribu items. IKEA Sentul City juga bekerjasama thousand items. IKEA Sentul City also cooperates dengan pengusaha UMKM untuk with MSME entrepreneurs to promote their mempromosikan produknya. products.

32. SPBU Shell Sentul City 32. Shell Gas Station at Sentul City Pada tahun 2019, SPBU Shell Sentul City telah In 2019, Shell Sentul City gas stations are ready siap melayani warga Sentul City dan masyarakat to serve the residents of Sentul City and the umum lainnya. Dengan keberadaan dan general public. With the existence and operation beroperasinya SPBU Shell Sentul City semakin of Shell gas stations, they are increasingly melengkapi fasilitas yang ada dan menghadirkan complementing existing facilities and presenting pilihan bagi masyarakat di kawasan Sentul City choices for people in the Sentul City and dan sekitarnya. surrounding areas.

33. AEON MALL Sentul City 33. AEON MALL Sentul City Pada akhir tahun 2020 AEON Mall Sentul City, At the end of 2020 AEON Mall Sentul City, started mulai beroperasi dan dibuka untuk umum. operating and opened to the public. AEON Mall Lokasi AEON Mall Sentul City adalah di Jl. M. H. Sentul City location is on Jl. M. H. Thamrin, Thamrin, Kel. Citaringgul, Kec. Babakan Madang, Citaringgul Urban Village, Babakan Madang Kab. Bogor, Jawa Barat, memiliki jumlah tenant District, Bogor Regency, West Java, has 270 270 toko. Kehadiran AEON Mall Sentul City tenants of shops. The presence of AEON Mall melengkapi dan menambah fasilitas di Kawasan Sentul City complements and adds facilities in Sentul City. the Sentul City Area. 56

Analisis dan Pembahasan Manajemen Management Discussion & Analysis

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Analisis dan Pembahasan Manajemen Management Discussion & Analysis

Umum General Dampak dari pandemi Covid 19 menyebabkan The impact of the Covid 19 pandemic has caused pelemahan ekonomi di sebagian besar Negara di economic weakness in most countries in various berbagai belahan Dunia. Bagi Indonesia dampak parts of the world. In Indonesia, the impact of Covid Covid 19 sangat berat, hal tersebut dapat dilihat dan 19 is very large, this can be seen and reflected in the tercermin dari angka pertumbuhan ekonomi nasional national economic growth rate for the last three tiga tahun terakhir, yaitu tahun 2018 sebesar 5,17 %, years, namely in 2018 of 5.17%, in 2019 of 5.02% and tahun 2019 sebesar 5,02 % dan tahun 2020 sebesar in 2020 of minus 2.07%. minus 2,07 %.

Perseroan sebagai salah satu perusahaan properti The Company, as a property company located in yang berada di wilayah Bogor, merasakan beratnya the Bogor area, has felt the severity of the impact dampak Covid 19. Meskipun hampir semua of Covid 19. Although almost all companies have felt perusahaan merasakan dampak Covid dan the impact of Covid and the government has made pemerintah telah membuat berbagai kebijakan untuk various policies to mitigate it, the impact of Covid meringankan, dampak Covid masih signifikan. is still significant.

1. Tinjauan Operasi per Segmen 1. Segmental Overview of Operations Usaha Perseroan dikelompokkan menjadi 2 (dua) The Company's businesses are grouped into 2 segmen yaitu segmen utama di bidang real estate (two) segments: the main segment in the real dan segmen lainnya yang terdiri dari pengelolaan estate sector and the other segment in city kota, kegiatan wisata, hotel dan restoran. management, tourism activities, hotels and Pendapatan bersih dan laba bersih tahun restaurants. The net income and net profit for berjalan dari dua segmen usaha tersebut sebagai the year from the two business segments are as berikut : follows:

Bidang Usaha Pendapatan Bersih Laba bersih tahun berjalan

Industry Net Income Net Profit current period

2020 2019 Pertumbuhan/ % 2020 2019 Pertumbuhan/ % Rp (Juta/million) Rp (Juta/million) Growth Rp (Juta/million) Rp (Juta/million) Growth

Segmen Utama 260,855 689,856 -429,002 -62.19% -576,871 28,389 -605,260 -2,132.02% Main Segment Segmen Lainnya 190,992 261,565 -70,572 -26.98% 20,569 40,539 -19,970 -49.26% Other Segments Total 451,847 951,421 -499,574 -52.51% -556,302 68,928 -625,230 -907.08%

2. Tinjauan Keuangan 2. Financial Review Dari tabel di atas total pendapatan bersih yang As shown by the table above the Company's dicapai Perseroan dalam tahun 2020 mengalami total net income in 2020 decreased by Rp 499,57 penurunan sebesar Rp 499,57 miliar atau sebesar billion or by -52.51% relative to that of 2019. The -52,51% dibandingkan tahun 2019, Tabel di atas table above also shows a decrease in the juga menunjukkan penurunan persentase percentage contribution of main segment kontribusi pandapatan segmen utama terhadap revenue to total net income of the business in total pendapatan bersih usaha di mana which the contribution percentage in 2019 persentase kontribusi di tahun 2019 sebesar amounted to 72.51% to 57.73% in 2020. The 72,51% turun menjadi menjadi 57,73% di tahun decline was due to property market conditions 2020, Penurunan tersebut disebabkan karena that had not improved in 2020 due to the impact kondisi pasar properti yang belum membaik of COVID-19. The Company's Net Profit in 2020 pada tahun 2020 karena dampak COVID-19. Laba decreased by Rp 625.23 billion or -907.08% from Bersih Perseroan pada tahun 2020 mengalami the previous year due to a decrease in revenue, Laporan Tahunan 2020 Annual Report 59

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penurunan Rp 625,23 miliar atau -907,08% dari an increase in financial expenses, an increase in tahun sebelumnya yang disebabkan oleh adanya other operating expenses and a decrease in penurunan pendapatan, adanya kenaikan beban other operating income. keuangan, kenaikan beban operasi lainnya dan penurunan pendapatan operasi lainnya.

Aset Assets Pada akhir tahun 2020 total aset Perseroan The total assets of the Company at the end of adalah sebesar Rp 18.371,22 miliar, meningkat 2020 were Rp 18,371.22 billion, an increase of Rp sebesar Rp 1.095,95 miliar atau naik 6,34% 1,095.95 billion or an increase of 6.34% relative dibandingkan tahun 2019. Dari jumlah tersebut to that of 2019. Of the figure, current assets aset lancar berkurang sebesar 2,91% yang decreased by 2.91% due to a decrease in trade disebabkan karena berkurangnya piutang usaha receivables and a 10% increase in non-current dan Aset tidak lancar meningkat 10% yang assets due to the company purchasing land in disebabkan karena perseroan melakukan Cadas Ngampar Village, Bogor Regency. pembelian tanah di Desa Cadas Ngampar Kabupaten Bogor.

Liabilitas Liabilities Total liabilitas Perseroan pada akhir tahun 2020 The total liabilities of the Company at the end adalah sebesar Rp 8.121,12 miliar, meningkat Rp of 2020 were Rp 8,121.12 billion, an increase of 1.543,05 miliar atau 23,46% dibandingkan posisi Rp 1,543.05 billion or 23.46% relative to that of liabilitas pada akhir tahun 2019. Dari peningkatan 2019. From the increase in total liabilities, total total liabilitas tersebut, jumlah hutang lancar current liabilities decreased by 1.01% due to a menurun sebesar 1,01% yang disebabkan oleh decrease in third party loans and a decrease in penurunan pada pinjaman pihak ketiga dan customer advances, while long-term debt penurunan uang muka pelanggan, sedangkan increased by 48.14% due to the emergence of hutang jangka panjang meningkat 48,14% yang third party loans due to rescheduling of long- disebabkan timbulnya pinjaman pihak ketiga term debt securities. medium and increased atas penjadwalan kembali surat utang jangka down payment for residential houses, menengah dan peningkatan uang muka apartments, and ready to build land. pelanggan rumah hunian, apartment, dan lahan siap bangun.

Ekuitas Equity Pada akhir tahun 2020, total ekuitas Perseroan The Company's total equity at the end of 2020 tercatat sebesar Rp 10.250,09 miliar, turun Rp was Rp 10,250.09 billion, a decrease of Rp 446.82 446,82 miliar atau 4% dibandingkan dengan billion or 4% relative to total equity at the end jumlah ekuitas di akhir tahun 2019. Penurunan of 2019. The decrease came from a decrease in tersebut berasal dari penurunan laba bersih net operating profit for the year. usaha dalam tahun berjalan.

Laba Bruto Gross Profits Laba bruto tahun 2020 sebesar Rp 248,99 miliar, Gross profits in 2020 was Rp 248.99 billion, a turun Rp 317,31 miliar atau 56,03% dibandingkan decrease of Rp 317.31 billion or 56.03% relative dengan laba bruto tahun sebelumnya. Penurunan to that of the previous year. The decrease was tersebut dikarenakan terjadinya penurunan total due to a decrease in the company's total revenue, pendapatan perusahaan, terutama pendapatan especially revenue from the main business dari segmen utama usaha. segments.

Laba Bersih Tahun Berjalan Net Income for the Year Penjelasan tentang penurunan laba bersih tahun For description of the decrease in net income berjalan lihat poin 2. for the year, see point 2. 60 Laporan Tahunan 2020 Annual Report

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Laba Komprehensif Comprehensive Income Laba komprehensif tahun 2020 sebesar minus Comprehensive income in 2020 was minus Rp Rp 556,39 miliar, turun sebesar Rp 631,78 miliar 556.39 billion, a decrease of Rp 631.78 billion or atau 837,96% dibandingkan tahun sebelumnya. 837.96% compared to the previous year. The Penurunan tersebut terutama berasal dari decline mainly came from the decline in the menurunnya laba bersih perusahaan. company's net profit.

3. Solvabilitas 3. Solvability Solvabilitas yang menunjukkan kemampuan Solvability shows the Company's ability to fulfill perseroan dalam memenuhi seluruh all its obligations, as measured by the debt-to- kewajibannya, yang diukur dengan debt to asset asset ratio (DTA). In 2020 the Company's DTA ratio (DTA). Pada tahun 2020 DTA Perseroan was 44.21%, an increase of 6.13% relative that of sebesar 44,21%, naik 6,13% dari tahun sebelumnya the previous year of 38.08%. The increase in the sebesar 38,08%. Kenaikan ratio tersebut terutama ratio was mainly due to an increase in the dikarenakan adanya kenaikan pinjaman Company's loans. Perseroan.

Profitabilitas Profitability Rasio Profitabilitas merupakan ukuran yang The Profitability Ratio is a measure commonly umum digunakan dalam mengukur efektifitas used to measure the effectiveness of the return imbal hasil aset Perseroan dan imbal hasil ekuitas on assets and return on equity of the Company. Perseroan. Ratio tersebut dihitung sebagai The ratio is calculated as a ratio of the net profits perbandingan laba bersih periode berjalan of the current period to the total assets of the dengan total aset Perseroan (ROA) dan Company (ROA) and a ratio of net profits of the perbandingan laba bersih periode berjalan current period to total equity (ROE) of the dengan total ekuitas Perseroan (ROE). Untuk Company. For 2020 the Company's ROA was tahun 2020 ROA Perseroan sebesar minus 3,03% minus 3.03% relative to that of the previous year dibandingkan tahun sebelumnya sebesar 0,44%. of 0.44%. For 2020 the Company's ROE was Untuk tahun 2020 ROE Perseroan sebesar minus minus 5.43% relative to that of the previous year 5,43% dibandingkan tahun sebelumnya sebesar of 0.70%. The decline in the ratio was more 0,70%. Penurunan ratio tersebut lebih caused by a decrease in net profit for the year disebabkan oleh penurunan laba bersih tahun and an increase in assets and equity. berjalan dan peningkatan aset dan ekuitas.

4. Kolektibilitas Piutang 4. Collectibility of Accounts Receivable Umur piutang usaha Perseroan tahun 2020 The age of the Company's accounts receivable selama 195 hari lebih rendah dibandingkan tahun in 2020 was 195 days, lower than that of the sebelumnya selama 325 hari. previous year of 325 days.

Perseroan dan Anak Perseroan telah The Company and its Subsidiaries made mencadangkan penyisihan kerugian penurunan provisions for impairment losses on accounts nilai piutang sejumlah Rp 91,72 miliar dan Rp receivable of Rp 91.72 billion and Rp 69.90 billion, 69,90 miliar masing-masing pada tanggal 31 respectively, as of December 31, 2020 and 2019. Desember 2020 dan 2019. Manajemen Perseroan The Company's management believed that the berpendapat bahwa penyisihan piutang ragu- provisions for doubtful accounts receivable were ragu tersebut memadai untuk menutupi risiko adequate to cover the risk of losses that possibly kerugian yang mungkin timbul dari tidak arose from the uncollectible accounts receivable. tertagihnya piutang usaha tersebut.

5. Struktur Permodalan 5. Capital Structure Modal ditempatkan dan disetor Perseroan terdiri The Company's issued and paid-up capital atas saham Seri A, saham Seri B, saham Seri C consisted of Series A shares, Series B shares, Laporan Tahunan 2020 Annual Report 61

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dan Saham Seri D dengan nilai nominal per Series C shares and Series D Shares with a par saham masing-masing Rp 2.000, Rp 400, Rp value of Rp 2,000, Rp 400, Rp 100 and Rp 50 100, dan Rp 50. Tidak ada perbedaan dari saham per share, respectively. There was no difference Seri A, B, C dan D dalam hal hak suara dan among Series A, B, C and D shares in terms of wewenang, hak dividen dan, hak saat likuidasi. voting rights and authority, dividend rights and rights at liquidation.

Struktur permodalan tahun 2020, adalah sebagai The capital structure in 2020 was as follows: berikut :

Jenis Saham Harga / Saham Rp Jumlah Saham Total Nilai Saham Rp

Type of Shares Price per Shares Rp Number of Shares Total Shares Rp Seri A 2000 357.500.000 715.000.000.000 Seri B 400 1.001.000.000 400.400.000.000 Seri C 100 62.585.370.582 6.258.537.058.200 Seri D 50 3.139.690.500 156.984.525.000 TOTAL 67.083.561.082 7.530.921.583.200

6. Prospek Usaha 6. Business Outlook Prospek usaha Perseroan dalam jangka panjang The business prospects of the Company for the sangat baik, mengingat masih tingginya data long term are very good, considering the data kebutuhan akan rumah tinggal di wilayah needs for homes in the Greater Jakarta area is Jabodetabek. Meskipun begitu Perseroan still high. Even though, the Company is aware menyadari bahwa dampak wabah Covid-19, that the impact of the Covid-19 outbreak will sangat mempengaruhi perekonomian negara- greatly affect the economies of countries around negara di seluruh dunia tak terkecuali Indonesia the world, including Indonesia, in the coming dalam beberapa bulan ke depan masih akan months will still be felt. Not only the business sangat terasa. Tidak hanya kalangan dunia usaha, community, the majority of the community also masyarakat kebanyakanpun merasakan bahwa feels that the condition of the world economy kondisi perekonomian dunia dan juga Indonesia and also Indonesia, especially the business world, khususnya dunia usaha saat ini sangat terpukul has been devastated following the stipulation menyusul penetapan dari WHO yang of the WHO which mentions the Covid 19 menyebutkan wabah Covid 19 sebagai pandemi outbreak as a pandemic affecting the business yang mempengaruhi dunia usaha. Hal tersebut world. This is evidenced by the rampant dibuktikan dengan maraknya pemutusan termination of employment, programs laying off hubungan kerja, program merumahkan karyawan employees or employee salary deduction ataupun program pemotongan gaji karyawan dll. programs, etc. In this regard, the Company needs Berkenaan dengan hal tersebut kiranya Perseroan to review the opportunities and challenges of perlu mengkaji ulang peluang dan tantangan the current property industry. industri properti terkini.

Berbagai upaya telah dilakukan oleh Pemerintah Various efforts have been made by the untuk menekan dampak pandemi Covid 19 salah Government to reduce the impact of the Covid satunya dengan mengeluarkan Peraturan Menteri 19 pandemic, one of which is by issuing Minister Keuangan (PMK) Nomor 23 tahun 2020, yang of Finance Regulation (PMK) No. 23 of 2020, menyediakan empat hal yang berkaitan dengan which provides four matters relating to tax insentif pajak sebagai langkah dalam membantu incentives as a step in helping tax payers (WP) para pembayar pajak (WP) yang terkena dampak affected by the corona virus outbreak began dari wabah virus corona yang mulai efektif pada effective April 1, 2020. Four tax incentives are 1 April 2020. Empat insentif pajak yaitu berkaitan related to Article 21 of the Income Tax, Article 22 62 Laporan Tahunan 2020 Annual Report

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dengan Pajak Penghasilan (PPh) pasal 21, pasal of import tax, article 25 and Value Added Tax 22 pajak impor, pasal 25 dan Pajak Pertambahan (VAT). Nevertheless these efforts have not been Nilai (PPN). Meskipun demikian upaya tersebut able to overcome the chaotic national economy, belum dapat mengatasi carut marutnya the business world and especially the lower perekonomian nasional, dunia usaha dan middle class community. terutama kalangan masyarakat kelas menengah ke bawah.

Pemerintah memperkirakan pertumbuhan The government estimates economic growth for ekonomi untuk tahun 2021, berkisar 4,5 sampai 2021, ranging from 4.5 to 5.5 percent. With regard 5,5 persen. Berkenaan dengan pandemi Covid to the COVID-19 pandemic, which has not yet 19 yang belum berakhir, dapat diperkirakan ended, it can be expected that economic growth tekanan pertumbuhan ekonomi masih akan pressures will continue. berlanjut.

Perseroan optimis dengan prospek usaha-bisnis The Company is optimistic about the prospects properti untuk jangka panjang maupun beberapa for the property businesses for the long term as tahun ke depan. Bergesernya konsentrasi well as the next few years. The shift in the pengembangan infrastruktur ke arah selatan concentration of infrastructure development to Jakarta, yang ditandai dengan dicanangkannya the south of Jakarta was marked by the launching pengembangan tol Bogor Ciawi Sukabumi of the development of the Bogor Ciawi Sukabumi (Bocimi) serta dimulainya pembangunan LRT (Bocimi) toll road and the commencement of dari Cawang sampai kota Bogor, maka tidak the construction of LRT from Cawang to the city dapat dipungkiri lagi bahwa Perseroan of Bogor; hence, the Company undeniably has mempunyai prospek yang sangat baik di masa a very good outlook in the future. Massive mendatang. Pengembangan infrastruktur yang infrastructure development signifies a growing masif menandakan bertumbuhnya jumlah population and large economic rise as can be penduduk serta bangkitnya ekonomi yang besar, seen by the increasing number of new facilities hal ini terlihat dengan semakin banyaknya and built housing visible in the area of Sentul fasilitas-fasilitas baru dan hunian-hunian yang City. terbangun; hal-hal mana terlihat secara kasat mata di kawasan Sentul City.

Berikut ini, beberapa indikator penting yang The following are several important indicators berkaitan dengan prospek usaha Perseroan kini relating to the current and future business dan masa mendatang, sebagai berikut : outlook of the Company:

A. Faktor Perkembangan Regional dan A. Regional Development and Infrastructure Infrastruktur Factors Pertumbuhan penduduk, meningkatnya kelas Population growth, rising middle class and menengah serta berkembangnya area the development of urban areas in Greater perkotaan di kawasan Jabodetabek telah Jakarta (Jabodetabek) area resulted in mengakibatkan meningkatnya kebutuhan increased needs for housing and other sarana hunian serta produk properti lainnya. property products.

Beberapa hal penting yang mendorong Several important drivers of the development perkembangan kawasan adalah : of the region are: 1. Pengembangan Jalan Sentul - Cipanas; 1. Development of Sentul-Cipanas Road, the yang mana pembangunannya telah dimulai construction of which has begun and the dan progress lapangan sudah mencapai field progress reached more than 10 km. lebih dari 10 km. Jalan tersebut akan The road would become an alternative Laporan Tahunan 2020 Annual Report 63

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menjadi akses alternatif menuju Cipanas access to Cipanas while opening new sekaligus membuka akses baru ke arah access towards the north and east of Sentul utara dan timur Sentul City. City. 2. Pembangunan tol Bogor - Ciawi - Sukabumi 2. The construction of the Bogor-Ciawi- (Bocimi) yang telah dimulai, merupakan Sukabumi (Bocimi) toll road, which has proyek yang sangat strategis untuk Sentul begun, constitutes a very strategic project City, mengingat semakin terbukanya for Sentul City, given the more open aksesibilitas dari kawasan selatan Bogor - accessibility from the southern region of Sukabumi menuju area Sentul City. Hal Bogor-Sukabumi to the Sentul City area. tersebut akan mengakibatkan semakin This will result in the Company's increasing besarnya pangsa pasar yang diperoleh market share, either in terms of occupancy Perseroan, baik dari sisi hunian maupun and commercial activities as well as tourism. kegiatan komersial dan juga wisata. 3. Pencanangan pembangunan Light Rail 3. The launching of the construction of the Transit (LRT) yang merupakan sarana Light Rail Transit (LRT), which is a mass transportasi masal terintegrasi Jabodetabek transportation facility integrated with akan mempermudah daya jangkau dari dan Greater Jakarta, will facilitate coverage from ke kawasan Sentul City, sehingga and to the Sentul City area, so that it is diperkirakan akan meningkatkan jumlah expected to significantly increase the rumah terhuni secara signifikan dalam kurun number of homes occupied in a short waktu yang singkat. period of time.

4. Semakin terbatasnya lahan di barat Jakarta, 4. The more limited land in the west of Jakarta serta konsentrasi perkembangan industri and the concentration of industrial di timur Jakarta, menjadikan kawasan development in eastern Jakarta make the selatan Jakarta khususnya kawasan Sentul southern region of Jakarta, especially the City menjadi pilihan di masa kini dan Sentul City area, the choice in the present mendatang. and future.

B. Faktor Topografi dan Iklim B. Topographic and Climate Factors 1. Secara tata ruang, kawasan Sentul City yang 1. In terms of spatial plan, the Sentul City area berada di ketinggian rata-rata 300-500 which is at an average height of 300-500 meter di atas permukaan laut mempunyai meters above sea level has an ideal karakter yang ideal untuk segala jenis character for all types of property pengembangan properti terlebih lagi untuk development, especially for residential hunian. Kawasan Sentul City sarat dengan areas. The Sentul City area is full of penghijauan sesuai dengan tata ruang yang aforestation in accordance with spatial mengindikasikan 65% kawasan sebagai planning which indicates 65% of the area penghijauan. is allocated for aforestation. 2. Kondisi tersebut menjadikan Sentul City 2. These conditions make Sentul City of more mempunyai nilai lebih dari sisi estetika value in terms of regional aesthetics which kawasan yang berujung pada semakin leads to higher property prices in the Sentul tingginya harga properti di kawasan Sentul City area. City.

C. Faktor Daya Serap Pasar C. Market Absorption Factors Daya serap pasar perumahan kelas menengah The middle and upper class' absorption of dan atas di area Bogor dan sekitarnya masih housing markets in Bogor and surrounding relatif tinggi. Terlebih lagi permintaan tinggi areas remains relatively high. Moreover, the untuk properti akan tetap terjadi karena high demand for property would continue to populasi Indonesia besar dan muda yang occur since the population of Indonesia is berarti masih banyak pembeli rumah pertama large and young, which means there are still di masa mendatang. many first home buyers in the future. 64 Laporan Tahunan 2020 Annual Report

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Dengan strategi menghentikan penjualan unit With the strategy of stopping the sale of land tanah kavling dan fokus memasarkan unit plots and focusing on marketing land & tanah & bangunan, maka perkembangan fisik building units, physical development is makin terlihat lebih nyata di kawasan Sentul increasingly more visible in the Sentul City City, sehingga kepercayaan konsumen semakin area, so that consumer trust is getting better hari semakin baik. and better.

D. Faktor Lokasi dan Aksesibilitas D. Location and Accessibility Factors Selain jaringan eksisting tol Jagorawi dan tol In addition to the existing Jagorawi toll road Bogor Ring Road; saat ini sudah mulai network and Bogor Ring-Road toll road, dikembangkan jalan Poros Tengah - Timur currently the middle-east axis road has begun yang membuka alternatif area Sentul ke to be developed which opens an alternative Cipanas; jalan tersebut merupakan rencana area of Sentul to Cipanas; the road is planned Pemerintah Pusat untuk mengantisipasi by the Central Government to anticipate the perkembangan area Jonggol dan berhubungan development of Jonggol area and to deal langsung dengan akses ke Cianjur, Bekasi dan directly with access to Cianjur, Bekasi and Cikarang. Cikarang.

Selain itu rencana jaringan tol baru yang In addition, the planned new toll road network merupakan perpanjangan tol Jagorawi ke arah is an extension of the Jagorawi toll road to Sukabumi, Cianjur dan Bandung yang Sukabumi, Cianjur and Bandung, which is the merupakan jaringan tol poros Selatan Jawa; Java South axis toll network; this makes the hal tersebut menjadikan kawasan Sentul City Sentul City area very strategic and easier to akan menjadi sangat strategis dan makin access either from the north, west, east and mudah diakses baik dari arah utara, barat, south. timur dan selatan.

Dengan demikian pengembangan berbagai Thus, the development of various property produk properti akan lebih mudah diserap products would be more easily absorbed by pasar karena produk-produk tersebut akan the market since these products will have a mempunyai pasar yang lebih besar dibanding larger market relative to other regions. dengan daerah lainnya.

E. Faktor Land Bank E. Land Bank Factors Perseroan memiliki tanah yang belum The Company has land bank of around 1,300 dikembangkan sekitar 1.300 ha dari ijin lokasi ha from a location permit of around 3,100 ha, sekitar 3.100 Ha, sedangkan Anak Perseroan while BJA, a subsidiary, known as Sentul BJA yang dikenal dengan Sentul Nirwana Nirwana, has around 12,000 ha of land bank memiliki tanah yang belum dikembangkan from a location permit of 30,000 ha. sekitar 12.000 Ha, dari ijin lokasi 30.000 Ha.

Besarnya tanah yang belum dikembangkan The large area of land bank provides flexibility tersebut memberikan keleluasaan bagi for the Company to develop various types of Perseroan untuk mengembangkan berbagai superior and varied properties, according to jenis properti unggulan dan variasi, sesuai market segmentation and target markets. dengan segmentasi pasar serta target pasar yang dituju.

F. Faktor Kelengkapan Fasilitas F. Facility Completeness Factors Pengembangan Sentul City yang telah The development of Sentul City which has berlangsung selama lebih dari 20 tahun been going on for more than 20 years to date Laporan Tahunan 2020 Annual Report 65

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sampai saat ini, bisa dijadikan referensi penting can be used as an important reference for all akan lengkapnya segala fasilitas yang the facilities needed for an independent city. dibutuhkan untuk suatu kota mandiri. Mulai Starting from educational, recreational, to dari fasilitas pendidikan, rekreasi, hunian residential facilities, even health facilities have bahkan fasilitas kesehatan telah beroperasi been operating well in Sentul City. In 2015, dengan baik di Sentul City. Pada tahun 2015, Sentul City collaborated with AEON Mall Japan Sentul City mengikat kerja sama dengan AEON to build a complete shopping center. Mall Jepang untuk membangun pusat Additionally, AEON Mall is in a Centerra super perbelanjaan yang lengkap. Tidak hanya itu, block area that would be the first super block AEON Mall tersebut berada di suatu kawasan in Bogor area. There are 4 tower apartments, Centerra super block yang akan menjadi super 1 office building and one 5-star hotel. In block pertama di kawasan Bogor. Di dalamnya addition, in April 2018 Alana Condotel has terdapat 4 tower apartment, 1 office building been officially operating which increasingly dan 1 hotel bintang 5. Selain itu bulan April complements the Sentul City area. 2018 sudah resmi beroperasi Alana Condotel yang semakin melengkapi kawasan Sentul City.

7. Perbandingan Target & Realisasi 7. Comparison of Targets & Realizations Realisasi marketing sales Perseroan pada tahun The realization of the Company's marketing sales 2020 adalah Rp 48 miliar dari target Rp 200 in 2020 was Rp 48 billion from the target of Rp miliar. Perseroan berpendapat bahwa tidak 200 billion. The Company believed the tercapainya target tersebut dikarenakan berbagai achievement of these targets is not achieved hal antara lain kondisi pasar properti yang kurang due to various reasons including the lack of a bergairah dan menurun, masih berlangsungnya vibrant and declining property market condition, pandemi Covid 19 serta tidak terealisasinya the ongoing Covid 19 pandemic and the transaksi blok sales yang direncanakan pada unrealized block sales transactions planned for tahun yang baru berakhir. the new year ending.

8. Target/Proyeksi 2021 8. 2021 Targets/Projections Target marketing sales Perseroan pada tahun The Company's marketing sales target in 2021 is 2021, Rp 200.635.163.399,- Namun demikian Rp 200,635,163,399. However, given the recent mengingat pencapaian marketing sales tahun year sales marketing achievements and the yang baru berakhir dan pandemi Covid 19 yang ongoing Covid 19 pandemic, the Company is tengah berlangsung, Perseroan bersikap realistis realistic about the current state of the property atas keadaan pasar properti saat ini apalagi market especially since there is no certainty when belum adanya kepastian kapan pandemi Covid the Covid 19 pandemic ends. But if it turns out 19 berakhir. Tetapi bilamana ternyata kondisi that the condition of the property market has pasar properti bangkit dan permintaan pasar risen and the demand for the property market properti atas rumah tinggal terjadi lanjakan secara for residential housing occurs significantly due signifikan akibat berlalunya pandemi Covid 19, to the passing of the Covid pandemic 19, it is tidak tertutup kemungkinan Perseroan merevisi possible for the Company to revise its marketing target marketing sales tahun 2021. sales target in 2021.

9. Uraian Tentang Aspek Pemasaran 9. Description of the Marketing Aspects Untuk menaikkan pencapaian penjualan In order to increase the achievement of the Perseroan dengan tetap mempertahankan Company's sales while maintaining customer kepuasan pelanggan dan pemangku kepentingan and other stakeholder satisfaction, the Company lainnya, Perseroan memberikan berbagai desain provides a variety of innovative and quality yang inovatif, berkualitas, menciptakan designs and creates comfort for all residents, kenyamanan bagi semua penghuni, penyewa tenants and visitors and makes Sentul City area dan para pengunjung serta menjadikan kawasan the first choice with the following steps: 66 Laporan Tahunan 2020 Annual Report

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Sentul City sebagai pilihan utama dengan langkah-langkah sebagai berikut :

1. Mengembangkan strategi pemasaran dengan 1. To develop a marketing strategy by building membangun berbagai fasilitas yang mengacu various facilities that refer to the concepts, pada konsep-konsep antara lain sebagai among others, as follows: berikut: a. Pengembangan kota yang mengacu pada a. Urban development that refers to keselarasan lingkungan, berwawasan environmental harmony, environmental lingkungan dan harmonisasi terhadap insight and harmonization of the lingkungan sekitarnya sehingga dapat surrounding environment so as to minimize meminimalkan efek negatif yang timbul the negative effects arising from akibat pembangunan. Pembangunan ini development. This development upholds mengusung konsep Green Property. the Green Property concept. b. Pengembangan tempat pembelajaran yang b. Development of a complete learning place, lengkap, baik pendidikan formal maupun both formal education and non-formal pendidikan non-formal yang dapat education that can be utilized by the dimanfaatkan oleh masyarakat umum. general public. This educational facility Fasilitas pendidikan ini dimulai dari jenjang starts from the level of the Play Group to Play Group hingga Perguruan Tinggi. Higher Education. c. Pengembangan kawasan wisata dan c. Development of integrated tourist and komersial terpadu, termasuk fungsi commercial areas, including akomodasi yang didesain untuk menjadi accommodation functions designed to be tujuan wisata sekaligus fasilitas kota yang tourist destinations as well as international bertaraf internasional. standard city facilities. d. Pengembangan aspek seni dan budaya, d. Development of art and culture aspects, melalui penyediaan sarana dan prasarana through the provision of facilities and untuk tempat pertunjukan kebudayaan dan infrastructure for cultural venues and places tempat-tempat yang bernuansa tradisional with traditional nuances is the focus of merupakan perhatian Sentul City. Sentul City. e. Pengembangkan zona komersial, hunian e. Development commercial, housing and dan fasilitas. facility zones. f. Redevelopment Program, yaitu perbaikan f. Redevelopment Program, such as dan revitalisasi untuk fasilitas-fasilitas dan improvement and revitalization of facilities infrastruktur pada cluster yang telah ada. and infrastructure in existing clusters.

2. Pangsa pasar dari produk yang dihasilkan 2. The market share of the products produced Perseroan adalah untuk kelompok milenial, by the Company is for millennial, middle & kalangan menengah & menengah atas, upper middle class groups, so that excellent sehingga karenanya diperlukan pelayanan services are required in order to maintain good yang prima agar hubungan baik dengan para relationships with old customers and attract pelanggan lama dapat dipertahankan dan new customers as many as possible. In fact, menarik sebanyak-banyaknya pelanggan baru. the Company has launched premium products Bahkan Perseroan telah meluncurkan produk- to meet the needs of the upper-class market. produk premium yang disediakan untuk memenuhi kebutuhan pangsa pasar kelas atas.

Dengan pangsa pasar sebagaimana tersebut, With such market share, the Company shall Perseroan harus mampu menyempurnakan be able to perfect various ways of the berbagai cara proses pembangunan dan serah development process and deliver the house terima rumah tepat waktu disertai dengan on time accompanied by the acceleration of Laporan Tahunan 2020 Annual Report 67

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dipercepatnya pembangunan jaringan the construction of its macro and micro infrastruktur makro dan mikronya. infrastructure network.

10. Kebijakan Dividen 10. Dividend Policy Besarnya dividen dikaitkan dengan besarnya The amount of the dividend is related to the keuntungan Perseroan dan kebutuhan kas pada Company's profits and cash requirements in the tahun buku yang bersangkutan, dengan tidak relevant financial year, by not ignoring the mengabaikan tingkat kesehatan Perseroan dan Company's health status and without prejudice tanpa mengurangi hak dari RUPS Perseroan to the rights of the GMS of the Company to menentukan lain sesuai dengan ketentuan determine otherwise in accordance with the Anggaran Dasar Perseroan dan peraturan provisions of the Articles of Association and perundang-undangan pasar modal. capital market regulations.

11. Realisasi Penggunaan Dana Hasil Penawaran 11. Realization of Use of Proceeds from Public Umum Offering Realisasi penggunaan Dana Pelaksanaan Waran The realization of the use of the Exercise Funds Seri I Baru terkait Penawaran Umum Terbatas for the New Series I Warrants related to the (PUT) IV dengan Memberikan Hak Memesan Efek Limited Public Offering IV by granting the Terlebih Dahulu (HMETD) Perseroan adalah: Company's Pre-emptive Rights are:

• Dana yang diperoleh dari Pelaksanaan Waran • Funds obtained from the exercise of the new Seri I Baru terkait Penawaran Umum Terbatas Series I Warrants related to the Limited Public (PUT) IV dengan Memberikan Hak Memesan Offering IV by granting the Company's Pre- Efek Terlebih Dahulu (HMETD) Perseroan, emptive Rights, amounting to Rp sebesar Rp 1.359.875.950.590. 1,359,875,950,590.

• Sesuai Laporan Realisasi Penggunaan Dana • In accordance with the Report on the hasil Pelaksanaan Waran Seri I Baru terkait Realization of the Use of Proceeds from the Penawaran Umum Terbatas (PUT) IV dengan Exercise of New Series I Warrants related to Memberikan Hak Memesan Efek Terlebih the Limited Public Offering IV by Granting the Dahulu (HMETD) Perseroan, kepada Otoritas Company's Pre-emptive Rights to the Financial Jasa Keuangan dan Bursa Efek Indonesia, Services Authority and the Indonesia Stock melalui surat Perseroan Nomor : 44/SC- Exchange, through the Company's letter CS/VI/2020, tanggal 23 Juni 2020, seluruh Number: 44/SC- CS/VI/2020, June 23, 2020, Dana Hasil Pelaksanaan Waran Seri I Baru all the proceeds from the exercise of the New terkait Penawaran Umum Terbatas (PUT) IV Series I Warrants related to the Limited Public Dengan Memberikan Hak Memesan Efek Offering IV by Granting the Company's Pre- Terlebih Dahulu (HMETD) Perseroan telah emptive Rights have been used up and habis dipergunakan dan direalisasikan. realized. 68

Tata Kelola Perusahaan Corporate Governance

Perseroan berkomitmen untuk menerapkan prinsip-prinsip tata kelola perusahaan yang baik sesuai ketentuan. Penerapan tata kelola yang baik dalam segala aspek kegiatan manajemen dan operasional secara berkesinambungan, diharapkan dapat meningkatkan kepercayaan konsumen, mitra kerja, pemegang saham dan pemangku kepentingan lainnya. Prinsip-prinsip tata kelola perusahaan yang baik tersebut meliputi Transparansi, Akuntabilitas, Pertanggungjawaban, Independensi dan Kewajaran.

The Company is committed to implementing the principles of good corporate governance in accordance with the applicable rules. The sustainable implementation of good governance in all aspects of management and operations is expected to raise the trust of consumers, business partners, shareholders and stakeholders. The principles of good corporate governance include Transparency, Accountability, Independence and Fairness.

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Penerapan prinsip-prinsip tata kelola perusahaan The implementation of principles good corporate yang baik tersebut tidak terbatas pada peraturan governance is not limited to regulations on capital dibidang Pasar Modal, namun juga meliputi Kode market, but also the Code of Conduct of PT Sentul Etik PT Sentul City Tbk, Pedoman Direksi dan Dewan City Tbk, Board of Directors and Board of Komisaris, Piagam Komite Audit, Kode Etik Komite Commissioners Work Guideline, Audit Committee Audit, Pedoman Kerja Unit Audit Internal, Kode Etik Charter, Code of Conduct of Audit Committee, Unit Audit Internal dan Standar Operasional Prosedur Internal Audit Unit Work Guideline, Code of Conduct dari berbagai unit kerja yang berada pada Perseroan. of Internal Audit Unit and Standard Operating Procedure of work units in the Company.

Direksi Board of Directors Sesuai dengan Peraturan Otoritas Jasa Keuangan As per Financial Services Authority Regulation Nomor 33/POJK.04/2014 dan Anggaran Dasar Number 33/FSA Regulation.04/2014 and the Perseroan, pada pokoknya tugas Direksi adalah Company's Articles of Association, the primary duties menjalankan dan bertanggung jawab penuh atas of the Board of Directors is to exercise and be fully kepengurusan Perseroan untuk kepentingan responsible for the management for the interest of Perseroan sesuai maksud dan tujuan Perseroan yang the Company aligned with the purposes and ditetapkan dalam Anggaran Dasar. Dalam objectives set out in its Articles of Association. In menjalankan tugas dan tanggung jawab atas performing the duties and responsibilities for the pengurusan, Direksi wajib menyelenggarakan RUPS management, the Board of Directors shall conduct Tahunan dan RUPS lainnya sebagaimana diatur Annual GMS and other GMS as set forth in the dalam peraturan perundang-undangan dan applicable legislations and Articles of Association. Anggaran Dasar. Setiap anggota Direksi wajib Each member of the Board of Directors shall perform melaksanakan tugas dan tanggung jawab dengan the duties and responsibility in good faith, with full itikad baik, penuh tanggung jawab dan kehati-hatian. responsibility and prudence.

Hasil Rapat Umum Pemegang Saham Luar Biasa By resolution of the Extraordinary General Meeting Perseroan, pada tanggal 14 Oktober 2020, of Shareholders of the Company on 14 October 2020 sebagaimana dimuat dalam Akta Berita Acara Rapat as set out in Deed of Minutes of Extraordinary Umum Pemegang Saham Luar Biasa Nomor : 38, General Meeting of Shareholders Number: 38, drawn yang dibuat oleh Elizabeth Karina Leonita, SH. up by Elizabeth Karina Leonita, SH. M.Kn., Notary M.Kn., Notaris di Kota Bogor, Direksi Perseroan Public in Kota Bogor, the Board of Directors Company terdiri dari 3 orang. consists of 3 persons.

Ruang lingkup tugas dan tanggungjawab masing- The scope of duties and responsibilities of each masing Direksi adalah sebagai berikut : member of the Board of Directors:

1. Tjetje Muljanto, Presiden Direktur yang memiliki 1. Tjetje Muljanto, President Director to be in charge tugas dan tanggungjawab di bidang Internal and responsible for Internal Audit, Quantity Audit, Quantity Surveyor & Procurement, Site Surveyor & Procurement, Site Plan Urban Design, Plan Urban Design, Surveyor, Engineering, Project Surveyor, Engineering, Project Construction, Sales Construction, Sales Club, Product & Marketing Club, Product & Marketing Research, Marketing Research, Marketing Communication dan Human Communication and Human Capital and Capital serta mengkoordinasikan tugas-tugas coordinate the duties of the Directors of the para Direktur Perseroan. Company.

2. Iwan Budiharsana, Direktur yang memiliki tugas 2. Iwan Budiharsana, Director to be in charge and dan tanggungjawab di bidang Corporate responsible for Corporate Secretary, Corporate Secretary, Corporate Communication dan Land Communication and Land Permit in the Permit pada Perseroan. Company. Laporan Tahunan 2020 Annual Report 71

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3. Richard Susilo, Direktur yang memiliki tugas dan 3. Richard Susilo, Director to be in charge and tanggungjawab di bidang Accounting Tax, responsible for Accounting Tax, Banking & Banking & Investor Relation, Finance, Budget, Investor Relation, Finance, Budget, Sales Sales Administration, General Affairs, Customer Administration, General Affairs, Customer Relation, Corporate Legal dan Information Relation, Corporate Legal and Information Technology pada Perseroan. Technology in the Company.

Direksi Perseroan telah memiliki pedoman atau Board of Directors Company has in place the piagam Direksi, sebagaimana diatur Pasal 35, POJK guideline or Charter Board of Directors, as set forth Nomor 33/POJK.04/2014, tentang Direksi dan Dewan Article 35, FSA Regulation Number 33/FSA Komisaris Emiten atau Perusahaan Terbuka. Regulation.04/2014, on Board of Directors and Board of Commissioners Issuer or Publicly Listed Company.

Prosedur penetapan remunerasi berdasarkan hasil The remuneration procedure adopted by resolution Rapat Umum Pemegang Saham Tahunan Perseroan of the Annual General Meeting of Shareholders adalah Rapat Umum Pemegang Saham Tahunan states that Annual General Meeting of Shareholders melimpahkan wewenang kepada Rapat Dewan will delegate the authorities to the meeting of Board Komisaris Perseroan untuk menetapkan gaji bagi of Commissioners to determine the amount of salary anggota Dewan Komisaris dan anggota Direksi to the members of the Board of Commissioners and Perseroan yang pelaksanaannya akan disesuaikan members of the Board of Directors in the manner dengan anggaran dasar Perseroan dan perundangan pursuant to the Company's Articles of Association yang berlaku. and applicable legislations.

Besarnya remunerasi (gaji dan tunjangan) yang The amount of remuneration (salary and allowance) dibayarkan kepada anggota Direksi Perseroan, paid to the member of the Board of Directors selama 1 (satu) tahun 2020 adalah Rp Company for 1 (one) year in 2020 was IDR 10.850.533.996.- 10.850.533.996.-

Sesuai ketentuan anggaran dasar Direksi wajib In accordance with the Company's Articles of mengadakan rapat Direksi paling kurang 1 (satu) kali Association, Board of Directors shall conduct at least dalam setiap bulan dan Direksi wajib mengadakan 1 (one) meeting of the Board of Directors each month rapat bersama Dewan Komisaris secara berkala and the Board of Directors shall conduct at least 1 paling kurang 1 (satu) kali dalam 4 (empat) bulan. (one) meeting with the Board of Commissioners regularly in 4 (four) months.

Sepanjang tahun 2020, Direksi Perseroan telah Throughout the year 2020, the Board of Directors melakukan rapat internal sebanyak 12 kali dengan Company conducted 12 internal meetings with tingkat kehadiran rapat rata-rata 75 % dan rapat average attendance level of 75 % and meeting 5 bersama dengan Dewan Komisaris Perseroan, (five) meetings with the Board of Commissioners sebanyak 5 kali dengan tingkat kehadiran rapat with average attendance level of 87,87 %. rata-rata 87,87 %.

Keputusan RUPS baik tahun buku maupun tahun GMS resolutions for the current and previous sebelumnya sudah direalisasikan. accounting year have been realized.

Dewan Komisaris Board of Commissioners Sesuai dengan Peraturan Otoritas Jasa Keuangan As per Financial Services Authority Regulation Nomor 33/POJK.04/2014 dan Anggaran Dasar Number 33/FSA Regulation.04/2014 and Company's Perseroan, pada pokoknya tugas dan tanggung Articles of Association, the primary duties and 72 Laporan Tahunan 2020 Annual Report

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jawab Dewan Komisaris adalah melakukan responsibility of the Board of Commissioners is to pengawasan atas kebijaksanaan pengurusan, oversee the management policy, the course of jalannya pengurusan pada umumnya, baik mengenai management in general of the Company or its Perseroan maupun usaha Perseroan, serta business, and to give advice to the Board of Directors. memberikan nasihat kepada Direksi. Dewan The Board of Commissioners must perform its duties Komisaris wajib menjalankan tugas dan tanggung and fulfill its responsibility in good faith, with full jawab dengan itikad baik, penuh tanggung jawab responsibility and prudence. dan kehati-hatian.

Hasil Rapat Umum Pemegang Saham Luar Biasa By resolution of the Extraordinary General Meeting Perseroan, pada tanggal 14 Oktober 2020, of Shareholders of the Company on October 14, sebagaimana dimuat dalam Akta Berita Acara Rapat 2020, as set out in Deed of Minutes of General Umum Pemegang Saham Nomor : 38, yang dibuat Meeting of Shareholders Number: 38, drawn up by oleh Elizabeth Karina Leonita, SH. M.Kn., Notaris Elizabeth Karina Leonita, SH. M.Kn., Notary Public di Kota Bogor, Dewan Komisaris Perseroan terdiri in Kota Bogor, the Company's Board of dari 3 orang dan 1 orang diantaranya merupakan Commissioners consists of 3 persons and 1 of them Komisaris Independen Perseroan. acts as Independent Commissioner.

Dewan Komisaris Perseroan telah memiliki pedoman The Company's Board of Commissioners has in place atau piagam Dewan Komisaris, sebagaimana diatur the work guideline or Charter of Board of Pasal 35, POJK Nomor 33/POJK.04/2014, tentang Commissioners as set out in Article 35, FSA Direksi dan Dewan Komisaris Emiten atau Regulation Number 33/FSA Regulation.04/2014, on Perusahaan Terbuka. Board of Directors and Board of Commissioners of Issuer or Publicly Listed Company.

Prosedur penetapan remunerasi berdasarkan hasil The remuneration procedure adopted by resolution Rapat Umum Pemegang Saham Tahunan Perseroan of the Annual General Meeting of Shareholders adalah Rapat Umum Pemegang Saham Tahunan states that Annual General Meeting of Shareholders melimpahkan wewenang kepada Rapat Dewan will delegate the authorities to the meeting of Board Komisaris Perseroan untuk menetapkan gaji bagi of Commissioners to determine the amount of salary anggota Dewan Komisaris dan anggota Direksi to the members of the Board of Commissioners and Perseroan yang pelaksanaannya akan disesuaikan members of the Board of Directors in the manner dengan anggaran dasar Perseroan dan perundangan pursuant to the Company's Articles of Association yang berlaku. and applicable legislations.

Besarnya remunerasi (gaji dan tunjangan) yang The amount of remuneration (salary and allowance) dibayarkan kepada anggota Dewan Komisaris paid to the members of the Company's Board of Perseroan, selama 1 (satu) tahun 2020 adalah Rp. Commissioners, for 1 (one) year in 2020 was IDR. 3,651,571,500,- 3,651,571,500,-

Sesuai ketentuan anggaran dasar Dewan Komisaris In accordance with the Company's Articles of wajib mengadakan rapat paling kurang 1 (satu) kali Association, Board of Commissioners shall conduct dalam 2 (dua) bulan dan Dewan Komisaris wajib at least 1 (one) meeting of the Board of mengadakan rapat bersama Direksi secara berkala Commissioners each month and the Board of paling kurang 1 (satu) kali dalam 4 (empat) bulan. Directors shall conduct at least 1 (one) meeting with the Board of Directors regularly in 4 (four) months.

Sepanjang tahun 2020, Dewan Komisaris Perseroan Throughout the year 2020, the Company's Board telah melakukan rapat internal termasuk rapat of Commissioners has conducted internal meeting Dewan Komisaris dalam fungsi Nominasi dan including meeting of the Board of Commissioners Laporan Tahunan 2020 Annual Report 73

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Remunerasi sebanyak 9 kali dengan tingkat on the Nomination and Remuneration functions for kehadiran rapat rata-rata 96,87 %, serta rapat 9 meetings with average attendance level of 96,87%, bersama dengan Direksi Perseroan, sebanyak 5 kali and 5 (five) meetings with the Board of Directors dengan tingkat kehadiran rapat rata-rata 87,87 %. with average attendance level of 87,87 %.

Kebijakan Perseroan tentang penilaian terhadap The Company's Policy on performance assessment kinerja anggota Direksi dan anggota Dewan Komisaris of the members of the Board of Directors and the dilaksanakan dengan prosedur, penilaian kinerja Board of Commissioners was conducted in dilakukan setiap periode yaitu sekali dalam setiap compliance with the applicable procedure, tahun. Kriteria penilaian kinerja antara lain dari sisi performance assessment is regularly conducted kecakapan dan kinerja. Pihak yang melakukan once in each year. The criteria of performance penilaian adalah Anggota Direksi menilai Direksi dan assessment include competence and performance. Anggota Dewan Komisaris menilai Dewan Komisaris. The party that evaluates the members of the Board of Directors evaluates the Board of Directors and the members of the Board of Commissioners assess the Board of Commissioners.

Dewan Komisaris menilai bahwa Komite Audit The Board of Commissioners assesses that the Perseroan yang dibentuk dan bertanggung jawab Company's Audit Committee Company formed and kepada Dewan Komisaris sebagaimana diatur dalam reporting to the Board of Commissioners as set out POJK Nomor : 55/POJK.04/2015, telah melaksanakan in FSA Regulation Number : 55/FSA Regulation. tugas dan tanggung jawabnya dengan baik. 04/2015 has performed its duties and responsibilities in a satisfactory manner.

Pada tahun 2020, Perseroan belum membentuk In 2020, the Company has not formed the Komite Nominasi dan Remunerasi, karena fungsi Nomination and Remuneration Committee as the Nominasi dan Remunerasi dijalankan oleh Dewan function is exercised by the Board of Commissioners. Komisaris.

Nominasi untuk Anggota Direksi dan Anggota Dewan Members of the Board of Directors and members Komisaris dilakukan oleh Dewan Komisaris. of the Board of Commissioners are nominated by Remunerasi untuk Anggota Direksi dan Dewan the Board of Commissioners. The Remuneration for Komisaris diputuskan oleh RUPS Tahunan. the members of the Board of Directors and Board of Commissioners is resolved by Annual GMS.

Komite Audit Audit Committee Sesuai Peraturan Otoritas Jasa Keuangan Nomor Pursuant to the Financial Services Authority (OJK) 55/POJK.04/2015, tentang Pembentukan dan Regulation Number 55/POJK.04/2015 regarding Pedoman Pelaksanaan Kerja Komite Audit, Komite Formation of Audit Committee and Guidelines for the Audit adalah komite yang dibentuk oleh dan Performance of its Work, Audit Committee is a committee bertanggung jawab kepada Dewan Komisaris formed by and responsible to the Company's Board of Perseroan dalam membantu melaksanakan tugas Commissioners to assist in the performance of the duties dan fungsi Dewan Komisaris. Anggota Komite Audit and functions of the Board of Commissioners. Audit diangkat dan diberhentikan oleh Dewan Komisaris. Committee members are appointed and dismissed by Komite Audit diketuai oleh Komisaris Independen. the Board of Commissioners. Audit Committee is chaired by an Independent Commissioner.

Susunan Komite Audit Perseroan Composition of the Company's Audit Committee Ketua : Jonnardi (Komisaris Independen) Chairman : Jonnardi (Independent Commissioner) Anggota : Aria Kanaka (Pihak Independen) Members : Aria Kanaka (Independent Person) Bamby Bisma Ularan (Pihak Independen) Bamby Bisma Ularan (Independent Person) 74 Laporan Tahunan 2020 Annual Report

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Jonnardi adalah anggota Komite Audit yang berasal Jonnardi is a member of the Audit Committee who dari Komisaris Independen yang bertindak sebagai comes from an Independent Commissioner who Ketua Komite Audit. acts as Chairman of the Audit Committee.

Aria Kanaka dan Bamby Bisma Ularan adalah Aria Kanaka and Bamby Bisma Ularan are members anggota Komite Audit dari pihak Independen yang of the Audit Committee from an independent party mempunyai latar belakang pendidikan dan who have an educational background and berpengalaman dalam bidang Keuangan dan experience in the fields of Finance and Accounting. Akuntansi. Riwayat singkat anggota Komite Audit The brief history of the members of the Audit yang berasal dari pihak independen adalah sebagai Committee who are independent parties is as berikut: follows:

Aria Kanaka Aria Kanaka Anggota Komite Audit Perseroan, yang berasal dari Member of the Company's Audit Committee, who pihak Independen dan berpengalaman dalam comes from an independent party and has bidang Keuangan dan Akuntansi, usia 46 tahun. experience in the fields of Finance and Accounting, Meraih gelar Sarjana Ekonomi dan Magister 46 years old. He holds a Bachelor of Economics and Akuntansi dari Universitas Indonesia. a Masters in Accounting, University of Indonesia.

Merupakan seorang Akuntan Publik dengan He is a Public Accountant with extensive experience pengalaman dan keahlian yang luas di bidang and expertise in the field of Accounting and Audit. Akuntansi dan Audit. Pernah bekerja di Kantor He has worked at the Public Accountant Firm Akuntan Publik Prasetio, Utomo & Co (Arthur Prasetio, Utomo & Co (Arthur Andersen) and currently Andersen) dan saat ini bekerja di KAP Aria Kanaka works at KAP Aria Kanaka & Partners (member firm & Rekan (firma anggota dari Mazars SCRL) dan aktif of Mazars SCRL) and actively teaches at the Faculty mengajar di Fakultas Ekonomi dan Bisnis Universitas of Economics and Business, University of Indonesia. Indonesia.

Bamby Bisma Ularan Bamby Bisma Ularan Anggota Komite Audit Perseroan, yang berasal dari Member of the Company's Audit Committee, who pihak Independen dan berpengalaman dalam comes from an independent party and has bidang Keuangan dan Akuntansi, usia 52 tahun, experience in the fields of Finance and Accounting, kewarganegaraan Indonesia. Menyelesaikan 52 years old, Indonesian citizenship. Graduated from pendidikan di Fakultas Ekonomi Jurusan Akuntansi, the Faculty of Economics, Department of Universitas Trisaksi Jakarta tahun 1994, menyelesaikan Accountancy, Trisaksi University, Jakarta in 1994, program Pasca Sarjana Magister Manajemen completed the Postgraduate Masters in (Perbankan & Keuangan), di Institut Teknologi Management (Banking & Finance) program, at the Bandung, tahun 2002. Bandung Institute of Technology, in 2002.

Pengalaman kerja antara lain, bekerja pada PT Bank His work experiences include working at PT Bank Sumitomo Niaga (Februari 1995- Februari 1996), PT Sumitomo Niaga (February 1995- February 1996), Bank Merincorp (Juli 1996-Juli 2001), PT Bank Multicor PT Bank Merincorp (July 1996-July 2001), PT Bank (Juli 2001 - Mei 2003), PT Bank International Multicor (July 2001 - May 2003), PT Bank Indonesia Tbk (Juli 2003-Maret 2006), PT Bank International Indonesia Tbk (July 2003- March 2006), Lippo Tbk (Maret 2006-Maret 2007), PT Bank PT Bank Lippo Tbk (March 2006-March 2007), PT Chinatrust Indonesia (April 2007-Nov 2010), PT Bank Bank Chinatrust Indonesia (April 2007-Nov 2010), CIMB Niaga Tbk (Nov 2010-Maret 2017), PT Bank PT Bank CIMB Niaga Tbk (Nov 2010-March 2017), QNB Indonesia Tbk (Juni 2017-Des 2019). PT Bank QNB Indonesia Tbk (June 2017- Dec 2019). Laporan Tahunan 2020 Annual Report 75

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Dasar Hukum Penunjukan Legal Basis of Appointment Surat Penunjukan Komite Audit tertanggal 4 Audit Committee's Letter of Appointment dated 4 September 2020. September 2020.

Periode dan masa jabatan anggota Komite Audit Period and term of office of Audit Committee Susunan Komite Audit Perseroan tersebut adalah members untuk periode yang pertama dengan masa jabatan The composition of the Company's Audit Committee sampai dengan ditutupnya Rapat Umum Pemegang is for the initial period with term of office until the Saham Tahunan tahun 2023. closing of the 2023 Annual General Meeting of Shareholders.

Pengungkapan Independensi Disclosure of Independence Komite Audit bertugas dan bertanggung jawab untuk The Audit Committee has duty to provide, and is memberikan pendapat profesional dan independen responsible for providing, professional and kepada Dewan Komisaris terhadap laporan atau independent opinions to the Board of hal-hal yang disampaikan oleh Direksi kepada Dewan Commissioners regarding reports and issues Komisaris dan melaksanakan tugas-tugas lain yang presented by the Board of Directors to the Board diberikan Dewan Komisaris. of Commissioners and to perform such other duties as assigned by the Board of Commissioners.

Kebijakan dan Pelaksanaan Rapat Policy and Conduct of Meeting Komite Audit mengadakan rapat secara berkala The Audit Committee holds regular meeting at least paling sedikit 1 (satu) kali dalam 3 (tiga) bulan. one (1) time in three (3) months. Throughout 2020, Sepanjang tahun 2020, Komite Audit Perseroan the Company's Audit Committee held as many as telah melakukan rapat sebanyak 10 kali dengan 10 meetings with level of attendance 100%. tingkat kehadiran rapat 100 %.

Pelaksanaan Kegiatan Komite Audit Pada Tahun Conduct of Audit Committee's Activities during the Buku Financial Year Sesuai dengan ketentuan yang berlaku, peran Komite In accordance with the applicable rules, the role of Audit PT. Sentul City Tbk. ("Perseroan") adalah the Audit Committee of PT. Sentul City Tbk. membantu Dewan Komisaris dalam melaksanakan ("Company") is to assist the Board of Commissioners tugas dan tanggung jawab pengawasan. in performing its supervisory duties and responsibilities.

Tugas Komite Audit sesuai Piagam adalah: The Audit Committee's duties pursuant to the Charter • Meningkatkan kualitas laporan keuangan; are: • Memantau pelaksanaan sistem pengendalian • To increase the quality of the financial statements; pengelolaan usaha untuk meminimalisasi • To observe the performance of the business kemungkinan terjadinya salah kelola; management control system in order to minimize • Meningkatkan efektivitas fungsi Auditor Internal the possibility of mismanagement; maupun Auditor Eksternal; • To promote effective function of the Internal • Mengidentifikasi hal-hal yang memerlukan Auditors and External Auditors; perhatian Dewan Komisaris; • To identify issues that require the attention of • Memantau kepatuhan perusahaan terhadap the Board of Commissioners; peraturan perundang-undangan yang berlaku. • To monitor the company's compliance with the • Mereviu Piagam Komite Audit; applicable laws and regulations. • Mengevaluasi Akuntan Publik dan Kantor Akuntan • To review the Charter of the Audit Committee; Publik yang mengaudit Laporan Keuangan • To Evaluate Public Accountants and Public Perusahaan; Accounting Firm auditing the Company's Financial Statements; 76 Laporan Tahunan 2020 Annual Report

Tata Kelola Perusahaan Corporate Governance

• Memberikan rekomendasi terkait penunjukan • Provide recommendations regarding the Akuntan Publik dan Kantor Akuntan Publik oleh appointment of Public Accountants and Public Dewan Komisaris. Accounting Firm by the Board of Commissioners.

Kegiatan Komite Audit selama tahun 2020 antara The activities performed by the Audit Committee lain meliputi: during 2020 include: 1. Melakukan penelaahan atas rencana kerja 1. Conducted a review on the internal audit's annual tahunan internal audit, temuan dan tindaklanjut work plan, the findings and the management's manajemen atas temuan tersebut; further actions with respect to the findings; 2. Melakukan diskusi dengan manajemen mengenai 2. Conducted discussions with the management laporan keuangan dan isu terkini berkenaan regarding financial statements and current issues dengan standar akuntansi keuangan dan pertaining to current financial accounting ketentuan Otoritas Jasa Keuangan (dahulu standards and rules of the Financial Services Bapepam & LK) yang baru, terkait dengan Authority (OJK (formerly Bapepam & LK), relating laporan keuangan; to financial statements; 3. Merekomendasikan penunjukan Akuntan Publik 3. Recommended the appointment of Public kepada Dewan Komisaris berdasarkan pada Accountant to the Board of Commissioners on the independensi, ruang lingkup penugasan dan basis of independence, scope of assignment and imbalan jasa; fee; 4. Melakukan pertemuan dengan auditor 4. Held meetings with independent auditors to independen untuk mendiskusikan rencana audit, discuss audit plan, audit progress, audited kemajuan pelaksanaan audit, laporan keuangan financial statements and audit findings on the hasil audit dan temuan audit atas laporan company's financial statements and the keuangan perseroan serta management letter management letter containing recommended berisikan rekomendasi perbaikan atas improvement to the company's internal control; pengendalian internal perusahaan; 5. Held meetings with the management regarding 5. Melakukan pertemuan dengan manajemen the implementation of the applicable laws and tentang pelaksanaan peraturan perundangan regulations, legal issues, risk management, and yang berlaku, masalah-masalah hukum, issues and problems currently faced by the manajemen risiko, maupun menyangkut isu dan Company; permasalahan terkini yang dihadapi Perseroan. 6. Reviewed the Charter of the Audit Committee; 6. Mereviu Piagam Komite Audit; 7. Evaluated the Public Accountant and Public 7. Mengevaluasi Akuntan Publik dan Kantor Akuntan Accounting Firm auditing the Company's Publik yang mengaudit Laporan Keuangan Financial Report for the fiscal year 2019; Perseroan tahun buku 2019; 8. Provided recommendations regarding the 8. Memberikan rekomendasi terkait penunjukan appointment of a Public Accountant and Public Akuntan Publik dan Kantor Akuntan Publik oleh Accounting Firm by the Board of Commissioners Dewan Komisaris yang akan mengaudit Laporan to audit the Company's Financial Report for the Keuangan Perseroan tahun buku 2020. fiscal year 2020. 9. Menelaah pelaksanaan manajemen risiko yang 9. Reviewed the implementation of risk dilaksanakan oleh Direksi. management exercised by the Board of Directors.

Komite Audit dalam melaksanakan tugasnya In performing its duties, the Audit Committee mempertahankan sikap independen, walaupun maintains independence, although it always works selalu melakukan kerjasama serta berkomunikasi and communicates with the Internal Auditors, the dengan Internal Audit, Direksi, dan Akuntan Publik Board of Directors, and the Public Accountant of Perseroan. Namun demikian, Komite Audit tidak the Company. This does not mean that the Audit mengambil-alih pekerjaan-pekerjaan mereka dan Committee takes over their jobs and completely mengandalkan sepenuhnya pada informasi yang relies on the information provided by them. disampaikan oleh mereka. Oleh karena itu, Direksi Therefore, the Board of Directors and the Laporan Tahunan 2020 Annual Report 77

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dan Manajemen tetap bertanggungjawab Management remain fully responsible for the sepenuhnya atas penyajian Laporan Keuangan presentation of the Company's Financial Statements Perseroan kepada publik yang telah diterbitkan to the public which have been issued in accordance sesuai dengan Standar Akuntansi yang berlaku with the generally applied Accounting Standards, umum, termasuk pengungkapan yang memadai including adequate disclosure and compliance with serta kepatuhan terhadap undang-undang dan applicable laws and regulations. peraturan yang mengikat.

Untuk tahun buku 2020 Komite Audit telah For the financial year 2020, the Audit Committee has melangsungkan rapat dengan Manajemen Perseroan held a meeting with the Company's Management and dan Akuntan Publik, dan memfokuskan terutama the Public Accountant and focused particularly on the pada penyajian Laporan Keuangan Perseroan, presentation of the Company's Financial Statements, penelaahan informasi keuangan Perseroan, proses review of the Company's financial information, audit audit oleh Akuntan Publik, penelaahan temuan process by Independent Auditors, review of internal internal audit dan tindaklanjutnya, serta pelaksanaan audit findings and the further actions, and peraturan-peraturan yang relevan. implementation of the relevant regulations.

Komite Audit mereviu mengenai kemutahiran Piagam The Audit Committee reviews the updates of the Komite Audit secara berkala. Audit Committee's Carter regularly.

Sekretaris Perusahaan Corporate Secretary Kwee Liana Kumala, Sekretaris Perusahaan, dengan Kwee Liana Kumala, the Corporate Secretary, is domisili Jl. Bungur Besar No. 81, RT.006 RW.001, domiciled at Jl. Bungur Besar No. 81, RT. 006, RW. Kemayoran, Kemayoran, Jakarta Pusat. Menjabat 001, Kemayoran, Kemayoran, Central Jakarta. She sebagai Sekretaris Perusahaan sesuai Surat serves as Corporate Secretary in accordance with Penunjukkan tertanggal 28 Februari 2013. Letter of Appointment dated February 28, 2013.

Sebelumnya pernah menjabat sebagai Direktur dan She has held the position of Director and also pernah menjabat sebagai Komisaris Perseroan. Commissioner of the Company. Her career started Karirnya dimulai dengan bekerja pada PT. Ban Lim by working at PT. Ban Lim Trading Co (1976 - 1986), Trading Co (1976 - 1986), Asia Cemerlang Printing Asia Cemerlang Printing Co. (1982 - 1988), Industrial Co. (1982 - 1988), Industrial Development Bank (1984 Development Bank (1984 - 1986), PT. Muara Lentera - 1986), PT. Muara Lentera Mitra (1986 - 1988) dan Mitra (1986 - 1988), and PT. Fajar Marga Permai (1988 PT. Fajar Marga Permai (1988 - 1993). - 1993).

Lulusan Sastra Cina dari Nan Yang University, Graduated from Chinese Literature study program Singapore pada tahun 1974. at Nanyang University, Singapore in 1974.

Secara garis besar pelaksanaan tugas Sekretaris The implementation of duties of Corporate Secretary Perusahaan pada tahun buku 2020, antara lain in the 2020 fiscal year, as follows: sebagai berikut :

1. Mengikuti perkembangan Pasar Modal khususnya 1. Keeping up with the development in the Capital peraturan-peraturan yang berlaku di bidang Market, particularly regulations applicable in the Pasar Modal; field of Capital Market; 2. Memberikan masukan kepada Direksi dan Dewan 2. Providing input to the Board of Directors and Komisaris Emiten atau Perusahaan Publik untuk Board of Commissioners of Issuer or Public mematuhi ketentuan perundang-undangan di Company to comply with the provisions of laws bidang Pasar Modal; and regulations in the field of Capital Market; 3. Membantu Direksi dan Dewan Komisaris dalam 3. Assisting the Directors and Board of 78 Laporan Tahunan 2020 Annual Report

Tata Kelola Perusahaan Corporate Governance

pelaksanaan tata kelola perusahaan antara lain: Commissioners in the implementation of a. Keterbukaan informasi kepada masyarakat; corporate governance, as follows: b. Penyampaian laporan kepada Otoritas Jasa a. Information transparency to the public; Keuangan dll; b. Submission of report to the Financial Services c. Penyelenggaraan dan dokumentasi Rapat Authority, etc.; Umum Pemegang Saham; c. Implementation and documentation of d. Penyelenggaraan dan dokumentasi rapat General Shareholders Meeting; Direksi dan/atau Dewan Komisaris. d. Implementation and documentation of the 4. Memberikan pelayanan dan sebagai penghubung Directors and/or Board of Commissioners antara Emiten atau Perusahaan Publik dengan meetings. pemangku kepentingan; 4. Providing service and acting as liaison between Issuer or Public Company and stakeholders;

Unit Audit Internal Internal Audit Unit Johan Firmansyah, SE, MM. adalah Kepala Unit Audit Johan Firmansyah, SE, MM. is the Head of Internal Internal Perseroan, sebagaimana diatur dalam dan Audit Unit of the Company as regulated in and to untuk memenuhi Peraturan Otoritas Jasa Keuangan meet Regulation of the Financial Services Authority Nomor 56/POJK.04/2015 Tanggal 29 Desember 2015 Number 56/POJK.04/2015 dated 29 December 2015 tentang Pembentukan dan Pedoman Penyusunan on the Establishment and Guideline on the Making Piagam Unit Audit Internal. Dasar hukum of Charter of Internal Audit Unit. The basis of law penunjukkan sebagai Kepala Unit Audit Internal for the appointment as the Head of Internal Audit adalah Surat Keputusan Direksi tertanggal 21 Januari Unit is a Decision Letter of Board of Directors dated 2019. 21 January 2019.

Perjalanan karir, sebagai Senior Auditor di PT. His career paths are as follows: Senior Auditor at Nutrifood Indonesia (Februari 1995-Desember 1999), PT. Nutrifood Indonesia (February 1995-December Supervisor Internal Audit di PT. Surya TOTO 1999), Internal Audit Supervisor at PT. Surya TOTO Indonesia, Tbk. (Desember 1999-April 2001), Asisten Indonesia, Tbk. (December 1999-April 2001), Manager Internal Audit di PT. Duta Lestari Assistant Manager of Internal Audit at PT. Duta Sentratama (KINO Group) (April 2001-Maret 2003), Lestari Sentratama (KINO Group) (April 2001-March Financial Controller di PT. KDK Indonesia (Matsushita 2003), Financial Controller at PT. KDK Indonesia Panasonic Group) (Maret 2003-September 2005), (Matsushita Panasonic Group) (March 2003- dan Senior General Manager Internal Audit di PT. September 2005), and Senior General Manager of Metropolitan Land, Tbk. (September 2005-Januari Internal Audit at PT. Metropolitan Land, Tbk. 2019). (September 2005-January 2019).

Pelatihan yang diikuti untuk meningkatkan The training participated to improve the competence, kompetensi, dalam tahun buku 2020 adalah CIA in accounting year 2020 was CIA (Certified Internal (Certified Internal Auditor) Review Course dari PPA- Auditor) Review Course from PPA-FE University of FE Universitas Indonesia bulan Februari 2020 s/d Indonesia on February 2020 until October 2020, Oktober 2020, COSO Internal Control & Enterprise COSO Internal Control & Enterprise Risk Risk Management di bulan Mei 2020, COSO Management on May 2020, COSO Framework Framework Connection and Audit Engagement di Connection and Audit Engagement on June 2020 bulan Juni 2020 dan The IPPF and Audit Model and The IPPF and Audit Model months June 2020 bulan Juni 2020 yang semuanya di selenggarakan all of which were organized by Institute Internal oleh Institute Internal Auditor (IIA) Indonesia. Auditor (IIA) Indonesia.

Struktur dan Kedudukan Unit Audit Internal Structure and Position of Internal Audit Unit Sesuai dengan Piagam Unit Audit Internal dan According to the Charter of Internal Audit Unit and Struktur Organisasi Perseroan, Unit Audit Internal its Organizational Structure, the Internal Audit Unit Laporan Tahunan 2020 Annual Report 79

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bertanggungjawab dan melaporkan seluruh aktivitas shall account for and report all activities and dan hasil kerja kepada Presiden Direktur secara deliverables to the President Director directly and langsung dan kepada Dewan Komisaris melalui to the Board of Commissionaires through the Audit Komite Audit Perseroan. Committee of the Company.

Tugas dan Tanggung Jawab sesuai Piagam Unit Audit Duties and Responsibilities according to the Charter Internal of Internal Audit Unit 1. Menyusun dan melaksanakan rencana audit 1. Make and implement annual audit plan, including tahunan, termasuk pemeriksaan khusus bila special audit if needed. diperlukan. 2. Test and evaluate the implementation of internal 2. Menguji dan mengevaluasi pelaksanaan control and risk management system in pengendalian intern dan sistem manajemen accordance with Company's policy. resiko sesuai dengan kebijakan Perseroan. 3. Provide suggestion for improvement to the 3. Memberikan saran perbaikan kepada manajemen Management as a following up of the audit. sebagai tindak lanjut pemeriksaan. 4. Report the result of audit to the President Director 4. Melaporkan hasil pemeriksaan kepada Direktur directly and Board of Commissionaires through Utama secara langsung dan Dewan Komisaris the Audit Committee. melalui Komite Audit. 5. Monitor, analyze and report the implementation 5. Memantau, menganalisis, dan melaporkan of a following up of improvement that has been pelaksanaan tindak lanjut perbaikan yang telah suggested. disarankan. 6. Make and perform an annual independent 6. Menyusun dan melaksanakan program evaluasi evaluation program upon the performance mandiri tahunan atas mutu kinerja Unit Audit quality of the Internal Audit Unit. Internal.

Kegiatan Unit Audit Internal Tahun 2020 The Activities of Internal Audit Unit in 2020 Perencanaan penugasan dan penentuan objek The assignment planning and determination of the penugasan menggunakan pendekatan berbasis risiko object of assignment use risk-based auditing (risk-based-auditing), berdasarkan identifikasi dan approach based on identification and analysis on analisa kondisi finansial dan operasional perseroan financial conditions and the operation of Company serta permintaan audit khusus dari Presiden Direktur as well as upon a request for a special audit from atau Komisaris. Unit Audit Internal melaksanakan the President Director or the Commissionaires. The penugasan memenuhi perencanaan audit yang Internal Audit Unit performs its assignment in ditetapkan kepada PT Sentul City, Tbk dan anak meeting audit plan as determined to the Company perusahaan. Lingkup audit meliputi fungsi keuangan and the entity of subsidiary. The scope of audit dan operasional di PT. Sentul City, Tbk, seluruh anak includes financial and operational functions in the perusahaan dan unit-unit bisnis yang ada di dalam Company, all subsidiaries and business units in the perseroan. Company.

Sistem Pengendalian Internal Internal Control System Pengendalian keuangan dan operasional yang Finance and operating control is maintained by the diterapkan oleh Perseroan adalah dengan melakukan Company by division of tasks and responsibilities pembagian tugas dan tanggung jawab pada at levels and units and by issuing Board of Directors Perseroan secara berjenjang dan dalam unit-unit Decision Letter in each work unit stating the standard kerja serta menerbitkan Surat Keputusan Direksi operating procedure, operating rules and procedures pada masing-masing unit kerja yang berisi standar of work unit. In addition, the internal control system operasional prosedur, aturan, tatacara unit kerja is also a form of planning that includes organizational terkait operasi. Selain itu sistem pengendalian structure, methods, and coordination tools. internal juga sebagai bentuk perencanaan yang Coordination aims to secure the Company's assets, meliputi struktur organisasi, metode, dan alat ensure accountability and correctness of accounting 80 Laporan Tahunan 2020 Annual Report

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koordinasi. Koordinasi bertujuan untuk data, encourage efficiency and motivate the mengamankan asset Perseroan, memastikan application of Company policies. In ensuring the akuntabilitas dan kebenaran data akuntansi, effectiveness and efficiency of the performance of mendorong efisiensi serta memotivasi penerapan tasks and responsibilities of each work unit: kebijakan Perseroan. Agar tugas dan tanggung jawab masing-masing unit kerja dapat berjalan dengan baik, efektif dan efisien maka:

1. Seluruh proses operasional Perseroan harus 1. All operating process of the Company must sesuai dan berdasarkan standar operasional comply with the current standard operating prosedur dan ketentuan yang berlaku, tidak procedures and applicable provisions, including terbatas pada ketentuan internal Perseroan dan not limited to the Company's internal rules and ketentuan dan peraturan yang berlaku dibidang capital market regulation. pasar modal.

2. Setiap unit kerja diwajibkan membuat KPI (Key 2. Each work unit is required to establish and Performance Indicators) yang akan membantu maintain KPI (Key Performance Indicators) helpful manajemen dalam menilai kinerja organisasi dan for the management in objectively evaluating karyawan dari setiap unit kerja secara objektif the performance of organization and employees dan terukur. of each work unit.

3. Setiap karyawan harus memahami deskripsi dan 3. Each employee must understand the description proses kerja unit kerjanya. and work process in the work unit.

Tujuan penerapan sistem pengendalian internal The purpose of application of internal control system adalah untuk menghindari penyimpangan dari is to avoid deviation from procedures so that financial prosedur sehingga laporan keuangan dan fungsi statement and accounting information system sistem informasi akuntansi yang dihasilkan oleh function produced by the Company are more reliable Perseroan lebih terpercaya dan kegiatan Perseroan and the activities of Company carry on in accordance berjalan sesuai dengan hukum dan peraturan yang with prevailing laws and regulations. berlaku.

Efektivitas Sistem Pengendalian Interen Effectiveness of Internal Control System Untuk menjamin efektifitas Sistem Pengendalian To secure the effectiveness of Internal Control Internal di atas, Perseroan telah membentuk Unit System above, the Company has established an Audit Internal yang bertanggung jawab mengawasi Internal Audit Unit that is responsible to supervise pelaksanaan aktifitas operasional Perseroan, the implementation of the operational activities of sehingga Perseroan menilai bahwa upaya the Company so that the Company evaluates that pengendalian internal yang dilakukan oleh the internal controlling effort made by the manajemen sampai saat ini telah berjalan dengan Management up to this present time has run properly baik dan efektif. and effectively.

Sistem Manajemen Risiko Risk Management System Perseroan melaksanakan sistem Manajemen Risiko The company establishes and maintains an yang terintegrasi, dikoordinasikan oleh Presiden integrated Risk Management System, coordinated Direktur, dengan melibatkan berbagai jenjang dalam by the President Director, by involving various levels manajemen, agar sebuah kebijakan strategis yang in the management, so that the Company's strategic dibuat dapat terlaksana dengan sebaik-baiknya policy can be effectively implemented while serta tetap dapat mengelola dan mengantisipasi managing and anticipating any possible uncertainty. ketidakpastian yang mungkin timbul. Laporan Tahunan 2020 Annual Report 81

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Risiko & Upaya Mengelolaannya Risk & Managerial Measures

1. Kenaikan harga bahan bangunan & kelangkaan 1. Increase in Material Price & Scarcity bahan bangunan. Kenaikan harga bahan bangunan yang signifikan The significant increase in price and scarcity of atau cukup tinggi atau tidak tersedianya bahan building materials in the market may be bangunan dipasaran pada saat dibutuhkan dapat recognized as one of the causes of slippage in menjadi salah satu sebab keterlambatan dalam completing the construction works, handover penyelesaian bangunan, penundaan serah terima which resulted in delayed revenue from the sales bangunan sehingga berakibat pada mundurnya of units. This slippage resulted in loss of trust by pengakuan pendapatan Perseroan dari penjualan the customer/prospective customers eventually rumah tersebut. Mundurnya serah terima reducing the revenue of Company. The late bangunan tersebut di atas dapat mengakibatkan handover of the above building may result in the pada hilangnya atau paling tidak mempengaruhi loss or at least may affect the confidence of the kepercayaan para konsumen/calon konsumen consumers/ potential customers which ultimately yang pada akhirnya menurunkan jumlah reduces the amount of Company's income. pendapatan Perseroan.

Upaya Perseroan untuk mengurangi risiko The measures taken by the Company to reduce kenaikan harga bahan bangunan dan kelangkaan the risks from increase in price and scarcity of bahan bangunan adalah dengan merencanakan building materials is by thoroughly planning the 82 Laporan Tahunan 2020 Annual Report

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secara seksama pemakaian komponen material use of material components and making bangunan dan membuat proyeksi kebutuhan projections as to the need for the next period pemakaian dalam kurun waktu satu tahun ke of one year, entering into contract with vendors depan, membuat kontrak untuk satu tahun and suppliers for one year to set price and ensure berjalan dengan para vendor dan supplier terkait availability of supplies and accelerate the process untuk mengikat harga dan ketersediaan pasokan of constructing homes that sold and handover dan mempercepat proses pembangunan rumah to the buyer. yang telah terjual dan mempercepat penyerahan kepada pembeli.

2. Persaingan usaha 2. Business Competition Banyaknya perusahaan pengembang yang The increasing number of developer companies mengelola kawasan pemukiman baru di daerah managing new settlements situated in south selatan Jakarta ataupun yang tidak terlalu jauh Jakarta or areas not too far from Jakarta with dari Jakarta dengan akses yang cukup memadai adequate access as Taman Mini, Cibubur, dan cukup mudah seperti di daerah Taman Mini, Cileungsi, Bogor and Sentul itself, is a reality that Depok, Cibubur, Cileungsi dan Bogor serta Sentul the Company is presently facing strong sendiri, merupakan kondisi riil bahwa Perseroan competitors or those the company should not menghadapi pesaing usaha yang kuat. Berkaitan underestimate. With this reality, the company dengan hal tersebut Perseroan menyadari bahwa should realize that it is one of the causes or kenyataan itu dapat menjadi salah satu sebab resulting in decreased number of demand for atau mempengaruhi tingkat permintaan hunian settlement and acceptability of consumers of dan berkurangnya daya serap konsumen atas the products offered by the Company. produk yang ditawarkan oleh Perseroan.

Upaya Perseroan untuk mengurangi risiko terkait The measures adopted by the company to persaingan usaha adalah dengan memberikan minimize the risks arising from business berbagai kemudahan & penawaran yang menarik competition may include various facilities & terkait mengenai harga, cara pembayaran dan interesting offers as to prices, terms of payment pengembangan berbagai fasilitas baru and improvement of new supporting facilities pendukung kawasan, untuk menambah fasilitas for the settlement, addition of existing facilities yang telah ada dalam rangka memenuhi in fulfilling the needs of residents in Sentul City kebutuhan warga kawasan Sentul City dan and attract potential customers. menarik calon konsumen.

3. Risiko Keuangan 3. Financial Risk Masalah dalam penagihan dapat menjadi Issues in the collection and increase of exchange penyebab terganggunya operasional perseroan. rate may interrupt the operations of the Keterlambatan penerimaan kas akan Company. Delay in the cash revenue will affect mempengaruhi ketepatan waktu pembayaran the timeliness of payment obligation for the kewajiban konstruksi. Hal tersebut secara tidak construction. This issue will indirectly affect the langsung dapat mempengaruhi likuiditas liquidity of the Company and timeliness in the Perseroan dan ketepatan waktu serah terima handover of products which results in decline in produk yang berujung penurunan penjualan the sales by the company. perusahaan.

Upaya Perseroan untuk mengurangi risiko terkait The Company's efforts to reduce the financial keuangan adalah dengan membuat prosedur risk is to set up an adequate collection procedure Laporan Tahunan 2020 Annual Report 83

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operasional penagihan yang memadai untuk to minimize poor collectability of the consumers' mengurangi performa buruk kolektibilitas piutang receivables. konsumen.

Berkaitan dengan risiko hutang, Perseroan akan Regarding debt risk, the Company will be able dapat menyelesaikannya mengingat land bank to solve it considering that the land bank owned yang dimiliki Perseroan masih sangat besar. by the Company is still very large.

Efektivitas Sistem Manajemen Risiko Effectiveness in Risk Management System Perseroan menilai bahwa upaya pengelolaan risiko The company recognizes that the risk management yang dilakukan oleh manajemen sampai saat ini measures adopted to this date is fairly effective and telah berjalan dengan baik dan efektif. efficient.

Perkara Cases Perseroan memiliki beberapa kasus hukum terkait The Company has several legal cases related to land kepemilikan tanah, yang tidak material. Berdasarkan ownership, which are not material. Based on the pengalaman kasus sebelumnya semua kasus tanah experience in the previous cases, all land cases can dapat diselesaikan dan tidak mempunyai pengaruh be settled and have no significant impact on the yang signifikan terhadap keuangan serta Company's financials and business continuity. kelangsungan usaha Perseroan.

Informasi Mengenai Kode Etik Information on Code of Conduct a. Pokok-pokok kode etik Perseroan berisi : Latar a. The key points of the Company's code of conduct belakang, visi misi, tujuan, nilai dasar, pedoman include: background, vision mission, goals, basic perilaku, sanksi, perubahan dan penutup. value, code of conduct, penalty, amendment and closing. b. Kode Etik Perseroan disusun sebagai pedoman b. The Company's Code of Ethics is prepared as a perilaku. Penyusunan Kode Etik mengacu dan code of conduct. The Code of Conduct is made untuk memenuhi Ketentuan Peraturan Otoritas under and for the purposes of the Financial Jasa Keuangan Nomor : 33/POJK.04/2014, tentang Services Authority Regulation Number: Direksi dan Dewan Komisaris Emiten atau 33/POJK.04/2014 on the Directors and Board of Perusahaan Publik khususnya Pasal 36 dan Commissioners of Issuer and Public Company berlaku untuk seluruh anggota Direksi, Dewan specifically the provisions of Article 36 and is Komisaris, Komite Audit dan Karyawan Perseroan. applicable to all members of the Directors, Board of Commissioners, Audit Committee and Employees. 84 Laporan Tahunan 2020 Annual Report

Tata Kelola Perusahaan Corporate Governance

Pedoman Tata Kelola Governance Guidelines

No Aspek, Prinsip dan Rekomendasi Tata Kelola Telah Dilaksanakan Belum Dilaksanakan

No Aspects, Principles and Recommendations GovernanceImplemented Not Implemented

A Hubungan Perusahaan Terbuka Dengan The Relationship between Public Company Pemegang Saham Dalam Menjamin Hak-Hak and Shareholders In Ensuring Shareholder Pemegang Saham. Rights

Prinsip 1 Principle 1 Meningkatkan Nilai Penyelenggaraan Rapat Improving the Value of General Shareholders' Umum Pemegang Saham (RUPS). Meeting (GMS).

1.1 Perusahaan Terbuka memiliki cara atau Public Company has a technical procedure of prosedur teknis pengumpulan suara (voting) voting for both openly and closedly which baik secara terbuka maupun tertutup yang emphasizes on independence, and mengedepankan independensi, dan shareholders' interests. kepentingan pemegang saham.

1.2 Seluruh anggota Direksi dan anggota Dewan All members of the Board of Directors and Terdapat 1 anggota Dewan Komisaris tidak hadir dalam RUPS Tahunan. Komisaris Perusahaan Terbuka hadir dalam members of the Board of Commissioners of the There is 1 member of the Board of RUPS Tahunan. Public Company are present at the Annual GMS. Commissioners not present the Annual GMS 1.3 Ringkasan risalah RUPS tersedia dalam Situs Summary of the GMS minutes should be made Web Perusahaan Terbuka paling sedikit selama available on the Company's Website for at 1 (satu) tahun. least 1 (one) year.

Prinsip 2 Principle 2 Meningkatkan Kualitas Komunikasi Perusahaan Improving the Quality of Public Company Terbuka dengan Pemegang Saham atau Communication with Shareholders or Investor. Investors.

2.1 Perusahaan Terbuka memiliki suatu kebijakan Public Company has a communication policy komunikasi dengan pemegang saham atau with shareholders or investors. investor.

2.2 Perusahaan Terbuka mengungkapkan kebijakan Public Company discloses the Company's komunikasi Perusahaan Terbuka dengan communication policy with shareholders or pemegang saham atau investor dalam Situs investors in the Website. Web.

B Fungsi dan Peran Dewan Komisaris Function and Role of the Board of Commissioners Prinsip 3 Principle 3 Memperkuat Keanggotaan dan Komposisi Reinforcing the Membership and Composition Dewan Komisaris. of the Board of Commissioners.

3.1 Penentuan jumlah anggota Dewan Komisaris The determination of the number of the Board mempertimbangkan kondisi Perusahaan of Commissioners will take account of the Terbuka. condition of Public Company.

3.2 Penentuan komposisi anggota Dewan The determination of the composition of the Komisaris memperhatikan keberagaman Board of Commissioners should notice the keahlian, pengetahuan, dan pengalaman yang diversity of skills, knowledge, and experiences dibutuhkan. required.

Prinsip 4 Principle 4 Meningkatkan Kualitas Pelaksanaan Tugas dan Improving the Quality of the Implementation Tanggung Jawab Dewan Komisaris. of Duties and Responsibilities of the Board of Commissioners

4.1 Dewan Komisaris mempunyai kebijakan The Board of Commissioners has self penilaian sendiri (self assessment) untuk assessment policy to assess the performance menilai kinerja Dewan Komisaris. of the Board of Commissioners.

4.2 Kebijakan penilaian sendiri (self assessment) The self assessment policy to assess the untuk menilai kinerja Dewan Komisaris, performance of the Board of Commissioners diungkapkan melalui Laporan Tahunan is disclosed through Public Company's Annual Perusahaan Terbuka. Report.

4.3 Dewan Komisaris mempunyai kebijakan terkait The Board of Commissioners has a policy pengunduran diri anggota Dewan Komisaris related to the resignation of members if they apabila terlibat dalam kejahatan keuangan. are involved in financial crimes.

4.4 Dewan Komisaris atau Komite yang The Board of Commissioners or the menjalankan fungsi Nominasi dan Remunerasi Committee performing the Nomination and menyusun kebijakan suksesi dalam proses Remuneration functions shall establish a Nominasi anggota Direksi. succession policy in the process of the Board of Directors Nomination. Laporan Tahunan 2020 Annual Report 85

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No Aspek, Prinsip dan Rekomendasi Tata Kelola Telah Dilaksanakan Belum Dilaksanakan

No Aspects, Principles and Recommendations GovernanceImplemented Not Implemented

C FUNGSI DAN PERAN DIREKSI FUNCTION AND ROLE OF THE BOARD OF DIRECTORS Prinsip 5 Principle 5 Memperkuat Keanggotaan dan Komposisi Strenghthening the Membership and Direksi. Composition of the Board of Directors.

5.1 Penentuan jumlah anggota Direksi The determination of the number of the Board mempertimbangkan kondisi Perusahaan of Directors should consider the conditions Terbuka serta efektifitas dalam pengambilan of Public Company and the effectiveness of keputusan. decision making.

5.2 Penentuan komposisi anggota Direksi The determination of the composition of the memperhatikan, keberagaman keahlian, Board of Directors notices the diversity of pengetahuan, dan pengalaman yang dibutuhkan. skills, knowledge, and experience required.

Anggota Direksi yang membawahi bidang Members of the Board of Directors who are in 5.3 akuntansi atau keuangan memiliki keahlian charge of accounting or finance should have dan/atau pengetahuan di bidang akuntansi. expertise and/or knowledge in accounting.

Prinsip 6 Principle 6 Meningkatkan Kualitas Pelaksanaan Tugas Enhancing the Quality of the Implementation of dan Tanggung Jawab Direksi. Duties and Responsibilities of the Board of Directors.

6.1 Direksi mempunyai kebijakan penilaian sendiri The Board of Directors has self assessment policy (self assessment) untuk menilai kinerja Direksi. to assess the performance of the Board of Directors.

6.2 Kebijakan penilaian sendiri (self assessment) The self assessment policy to assess the untuk menilai kinerja Direksi diungkapkan performance of the Board of Directors is disclosed melalui laporan tahunan Perusahaan Terbuka. through the Public Company's annual report.

6.3 Direksi mempunyai kebijakan terkait The Board of Directors has policy related to pengunduran diri anggota Direksi apabila the resignation of members if they are involved terlibat dalam kejahatan keuangan. in a financial crime.

D PARTISIPASI PEMANGKU KEPENTINGAN SHAREHOLDERS PARTICIPATION

Prinsip 7 Principle 7 Meningkatkan Aspek Tata Kelola Perusahaan Improving Company Governance Aspects melalui Partisipasi Pemangku Kepentingan. through Stakeholder Participation.

7.1 Perusahaan Terbuka memiliki kebijakan untuk Public Company has a policy to prevent the mencegah terjadinya insider trading. occurrence of insider trading.

7.2 Perusahaan Terbuka memiliki kebijakan anti Public Company has anti-corruption and anti- korupsi dan anti fraud. fraud policies.

7.3 Perusahaan Terbuka memiliki kebijakan Public Company has a policy on selection tentang seleksi dan peningkatan kemampuan and the improved quality of suppliers or pemasok atau vendor. vendors.

7.4 Perusahaan Terbuka memiliki kebijakan Public Company has a policy on the fulfillment tentang pemenuhan hak-hak kreditur. of creditor rights.

7.5 Perusahaan Terbuka memiliki kebijakan Public Company has a whistleblowing system sistem whistleblowing. policy.

7.6 Perusahaan Terbuka memiliki kebijakan Public Company has a policy on the long- pemberian insentif jangka panjang kepada term incentives granted to the Board of Direksi dan karyawan. Directors and employees.

E KETERBUKAAN INFORMASI INFORMATION DISCLOSURE

Prinsip 8 Principle 8 Meningkatkan Pelaksanaan Keterbukaan Improved Implementation of Information Informasi. Disclosure.

8.1 Perusahaan Terbuka memanfaatkan Public Company utilizes the use of information penggunaan teknologi informasi secara lebih technology more broadly other than Website luas selain Situs Web sebagai media as a medium of information disclosure. keterbukaan informasi.

8.2 Laporan Tahunan Perusahaan Terbuka Public Company Annual Report discloses mengungkapkan pemilik manfaat akhir dalam ultimate beneficiary in the Public Company's kepemilikan saham Perusahaan Terbuka paling shareholding of at least 5% (five per cent), in sedikit 5% (lima persen), selain pengungkapan addition to the disclosure of the ultimate pemilik manfaat akhir dalam kepemilikan beneficiary in the Company's shareholding saham Perusahaan Terbuka melalui pemegang through Controlling Shareholders and Majority saham utama dan pengendali. Shareholders. 86

Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility

88 Laporan Tahunan 2020 Annual Report

Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility

Perseroan sebagai badan hukum yang merupakan The Company, as a legal entity which constitutes a bagian dari masyarakat, menyadari bahwa dalam part of the society, is aware of that in conducting its melaksanakan kegiatan usahanya, melekat pula business activity, corporate social responsibility is tanggung jawab sosial Perusahaan. Berkenaan also inherent. With regard to this matter, the dengan hal tersebut Perseroan telah melakukan Company has conducted various activities, among berbagai kegiatan antara lain sebagai berikut : other things as follows:

a. Bidang Lingkungan Hidup a. In the Field of Environment Perseroan secara bertahap melakukan hal-hal The Company has gradually performed the sebagai berikut : berupaya mengurangi following: making efforts of reducing the use of penggunaan material kayu, mengembangkan wooden materials, developing building by using bangunan dengan konsep green roof dan green the concept of green roof and green building, building, tidak merubah kontur tanah secara not changing the contour of the land radically in radikal dalam membuka atau membangun lahan clearing or building on land as well as developing serta mengembangkan green development pada green development in each of the developed setiap area yang dikembangkan dengan area by maintaining open green space between mempertahankan ruang terbuka hijau berkisar 40% and 70% of the developed area. The types 40 % sampai dengan 70 % dari luas area yang of trees used in planting greenery are chosen dikembangkan. Perseroan dalam menanam jenis selectively by the Company by taking into pohon penghijauan dilakukan secara selektif consideration their function to strengthen the dengan mempertimbangkan fungsinya untuk slopes or inhibit erosion, enrich the habitat of memperkuat lereng atau penahan erosi, fauna, and maintain the climate, as well as their memperkaya habitat fauna, menjaga iklim aesthetic aspect. maupun mempertimbangkan unsur estetika.

Perseroan terus berupaya terpeliharanya The Company's aspiration to preserve natural kelestarian lingkungan alam di kawasan tempat environment in the area where the Company Perseroan beroperasi, memperoleh perhatian operates has received serious attention from all yang serius dari seluruh pemangku kepentingan. stakeholders. In respect to this, the Environmental Berkenaan dengan hal tersebut Studi Analisis Impact Assessment (EIA) conducted by the Mengenai Dampak Lingkungan (AMDAL) yang Company as well as Environmental Management dilakukan oleh Perseroan maupun Studi Upaya and Monitoring Efforts (UKL-UPL) are conducted Pengelolaan dan Pemantauan Lingkungan (UKL- not only for complying with the applicable UPL) tidak semata-mata hanya untuk memenuhi provisions, but also in the context of protecting ketentuan yang berlaku tetapi termasuk dalam and at the same time maintaining a beautiful, rangka memelihara dan sekaligus green, and fresh environmental condition all year mempertahankan kondisi lingkungan yang asri, long in the surrounding area of the Company. hijau dan segar sepanjang tahun, di kawasan Perseroan.

Pembangunan sistem pembuangan air limbah The Company builds wastewater discharge dan Instalasi pengolahannya oleh Perseroan, system and wastewater treatment plan in several dalam beberapa kelompok dan hasil limbah yang clusters and the resulting processed waste is not telah diolah, tidak diresapkan ke dalam tanah absorbed into the ground but recycled for other melainkan didaur ulang untuk keperluan lain, purposes, such as golf course irrigation. The seperti irigasi lapangan golf. Perseroan juga Company also provides for the implementation mengatur pelaksanaan pembuangan limbah cair of liquid waste discharge, among other things Laporan Tahunan 2020 Annual Report 89

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antara lain dengan fasilitas Sewage Treatment through the facilities of Sewage Treatment Plant Plant (STP) & Septictank ramah lingkungan (STP) & environmental-friendly Septic Tank prior sebelum mengalirkannya ke saluran drainase. to channeling it to the drainage channel. The Praktek pemisahan sampah organik dan practice of separating organic and inorganic anorganik terus didorong di lingkungan kantor waste continues to be encouraged in the office Perseroan dan Entitas Anak, termasuk kampanye environment of the Company and Subsidiaries, untuk kebersihan dan menyiapkan berbagai including campaigns for cleanliness and keperluan untuk meningkatkan kebersihan. preparing various needs to improve cleanliness.

Perseroan juga terus melakukan kerjasama The Company also continue to cooperate with dengan Dinas Kebersihan Kabupaten Bogor, the Sanitation Service Office of Bogor Regency untuk menangani beberapa permasalahan yang to handle a number of issues relating to solid menyangkut sampah. waste.

Perseroan juga membangun 3 (tiga) buah danau The Company also built 3 (three) lakes with the yang berfungsi untuk memperlambat air larian function of slowing down water runoff and as a dan sebagai cadangan untuk penampungan reserve for collecting raw water sources. sumber air baku. b. Praktik Ketenagakerjaan Kesehatan dan b. Manpower Practices: Occupational Health and Keselamatan Kerja Safety

Kesetaraan Gender dan Kesempatan Kerja Equality of Gender and Employment Opportunity Perseroan tetap mengedepankan aspek The Company continues to prioritize aspects of kesetaraan gender dan kesempatan kerja yang gender equality and equal employment sama untuk semua karyawan. Tidak ada posisi opportunities for all employees. There are no khusus yang diperuntukan bagi gender tertentu. specific positions reserved for a particular gender.

Sarana dan Keselamatan Kerja Work Facility and Safety Perseroan telah menetapkan standar The Company has set the standard for keselamatan kerja yang mengacu pada peraturan Occupational Safety in compliance with the Manajemen Keselamatan dan Kesehatan Kerja applicable regulations on Occupational Health (MK3). Penerapan MK3 pada kegiatan and Safety (OHS) Management. The operasional perusahaan di lapangan tetap implementation of OHS Management to the diperlukan pengawasan sesuai Standar Operasi company's site operations requires supervision dan Prosedur (SOP) yang berlaku di internal per internal Standard Operating Procedure (SOP). Perseroan.

Tingkat Perpindahan Karyawan Employee Turnover Rate Tingkat turnover karyawan dikarenakan efisiensi Turnover due to redundancy and pandemic dan pandemi pada tahun 2020 sebanyak 33% situation in 2020 was 33% or from 185 to 139 dari sebelumnya jumlah karyawan 185 menjadi employees. 139.

Tingkat Kecelakaan Kerja Work Accident Rate Berkat kedisiplinan seluruh sumber daya manusia By the discipline of the personnel in observing dalam perseroan dalam mentaati seluruh regulasi and complying with the applicable regulations 90 Laporan Tahunan 2020 Annual Report

Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility

dan standar operasi kerja maka tingkat and standard operating procedures, the work- kecelakaan kerja di tahun 2019 adalah 0. related accident rate in 2020 was 0.

Pendidikan Dan/Atau Pelatihan Education and/or Training Perseroan secara berkelanjutan terus Company continues to organize various activities mengadakan berbagai kegiatan untuk to improve the synergy among the employees meningkatkan sinergi antar karyawan Sentul City of Sentul City Group despite the pandemic Group walaupun di tengah pandemi. Kegiatan situation. The activities which have supported yang menunjang dan sesuai dengan protokol and promoted the health protocol were: kesehatan tersebut antara lain: 1. Jumat Zumba dan Aerobik Karyawan 1. Jumat Zumba and Aerobik Karyawan 2. Gathering Sentul City Unity 2. Gathering Sentul City Unity 3. Health Talk Show 3. Health Talk Show 4. Program Sentul City Tanggap Corona 4. Program Sentul City Tanggap Corona (Regular (Penyemprotan rutin disinfektan, sosialisasi Disinfectant Spraying, Local 3M Dissemination, 3M di lingkungan, sosialisasi kebersihan alat Dissemination of Work Equipment and Cutlery kerja dan alat makan, kerjasama test PCR, Hygiene, Collaborative PCR and Antigen Test Antigen dengan Rumah Sakit, Working From with the Hospital, Working From Home, Home, Working Daily Online, Approval Online Working Daily Online, Approval Online etc). dsb). 5. Training untuk meningkatkan kompetensi 5. Training to improve the competency in working bekerja sama dengan vendor dari luar with external vendors. perusahaan.

Pelatihan-pelatihan sebagai syarat sertifikasi Trainings required for employee certification and karyawan dan untuk menunjang kinerja karyawan support for employee performance as follows: sebagai berikut: 1. HR Manager BNSP Certification Training 1. Pelatihan HR Manager sertfikasi BNSP 2. Corporate Lawyer for Apartments 2. Corporate Lawyer for Apartments 3. Geotechnical & Infrastructure Challenges 3. Geotechnical & Infrasructure Challenges During During Pandemic Pandemic 4. Online Single Submission, Investment Report 4. Online Single Submission, Laporan Kegiatan Activities. Penanaman Modal

Remunerasi Remuneration Untuk mempertahankan daya saing, Perseroan To preserve its competitiveness, the Company menerapkan strategi paket remunerasi yang implements the same remuneration package sama, seabagimana telah diimplementasikan strategy as in the preceding year. Facing the pada tahun-tahun sebelumnya. Berkenaan global pandemic, the Company continues to menghadapi pandemi global, Perseroan terus evaluate the wage structure and scale in place berusaha melakukan evaluasi terhadap struktur by maintaining its operating efficiency and dan skala upah yang dimiliki dengan terus effectiveness. menjaga efisiensi dan efektifitas.

Oleh karena itu Perseroan telah mulai menyusun The Company has started to prepare the new skema struktur remunerasi yang baru yang akan remuneration scheme for the employees to diterapkan kepada karyawan, dalam rangka motivate the employees to provide maximum Laporan Tahunan 2020 Annual Report 91

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memotivasi para karyawan sehingga dapat contribution to the Company. The next process berkontribusi secara maksimal terhadap is the program implementation, regular and Perseroan. Sehubungan dengan hal tersebut, continuous evaluation to achieve the objective proses selanjutnya adalah tahap pelaksanaan of the remuneration program. disertai dengan evaluasi yang teratur dan berkala serta berkesinambungan guna mencapai tujuan dari program remunerasi.

Mekanisme Pengaduan Masalah Ketenagakerjaan Employee Complaint Procedure Untuk menciptakan suasana kerja yang kondusif, To create a conducive work atmosphere, the Perseroan secara terbuka menerima pengaduan Company receives employee complaints about karyawan atas keluhan-keluhan yang dihadapi work or personal issues. baik dalam lingkup pekerjaan maupun personal.

Pengaduan karyawan diterima dan dievaluasi Employee complaint is received and evaluated oleh unit Human Capital. Selanjutnya Human by the Human Capital unit. The Human Capital Capital meneruskan pengaduan karyawan unit will then forward the complaint to the units kepada unit-unit yang bertanggung jawab atas responsible for the issues to communicate pokok permasalahan agar dapat berkomunikasi directly. langsung. 92 Laporan Tahunan 2020 Annual Report

Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility

c. Pengembangan Sosial dan Kemasyarakatan c. Social and Community Development Perseroan telah banyak mempekerjakan tenaga The Company has used a lot of local workforce kerja lokal di sekitar tempat Perseroan beroperasi, around where the Company operates, which is yang ditempatkan pada berbagai unit kerja. placed in various work units. The placement of Penempatan tenaga kerja lokal tersebut local workers is adjusted to their capacity, among disesuaikan dengan kemampuan yang dimiliki, other things, in the field of administration, town antara lain di bidang administrasi, pengelola kota management and security. dan keamanan.

Meskipun Perseroan sangat memperhatikan Even though the Company is very concerned potensi tenaga kerja lokal, Perseroan tetap about the potential of the local workforce, the meberlakukan proses seleksi masuk perusahaan Company still applies the company's admission dengan mempergunakan standar yang berlaku selection process by using the applicable di Perseroan. standards in the Company.

Selain hal tersebut di atas Perseroan juga sangat The Company gives attention to community peduli terhadap pemberdayaan masyarakat. empowerment, and in relation to this, the Sehubungan dengan hal tersebut Perseroan telah Company has organized various social activities menyelenggarakan berbagai kegiatan sosial yang which come directly in contact with community bersentuhan langsung dengan warga masyarakat members in the surrounding area of Babakan sekitar wilayah Babakan Madang dan tempat Madang and other places, whether in lain baik bekerjasama dengan pihak ketiga cooperation with other party or on its own, maupun secara swadaya, diantaranya : including :

• Bantuan untuk warga yang terdampak Bencana • Donation for residents affected by the Flood Banjir di Wilayah Kabupaten Bogor. Disaster in the Bogor Regency Area. • Bantuan dan partisipasi kegiatan sosial • Donation and participation in community social kemasyarakatan. activities. • Bantuan untuk mengurangi dampak Covid 19. • Donation to reduce the impact of Covid 19. • Bantuan Kegiatan Keagamaan antara lain • Donation for Religious Activities, including sumbangan Hewan Korban pada Peringatan donation of sacrificial animals at the Idul Adha 1441 H/2020, bantuan pembangunan Commemoration of Eid al-Adha 1441 H / 2020, Pondok Pesantren dll. donation for the construction of Islamic boarding schools, etc.

d. Tanggung Jawab Produk d. Product Responsibility Mengenai Produk yang dihasilkan, Perseroan Regarding the products produced, the Company berupaya semaksimal mungkin untuk memenuhi makes every effort to meet the provisions of SNI ketentuan SNI (Standar Nasional Indonesia). Oleh (Indonesian National Standard). Therefore, all karena itu semua produk yang ditawarkan oleh products offered by the Company in the form of Perseroan baik berupa bangunan rumah ataupun houses or shop houses (RUKO), have not only rumah toko (RUKO), tidak hanya telah memenuhi fulfilled the health and safety aspects, but are unsur kesehatan dan keselamatan namun also expected to meet the comfort elements for diharapkan juga telah memenuhi unsur the residents. kenyamanan bagi para penghuninya. Laporan Tahunan 2020 Annual Report 93

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Biaya yang dikeluarkan berkaitan dengan Costs incurred related to the implementation of pelaksanaan tanggung jawab sosial perusahaan corporate social responsibility towards the terhadap masyarakat dan lingkungan pada tahun community and the environment in fiscal year buku 2020, lebih kurang Rp. 981.079.544 2020, approximately Rp. 981,079,544 (nine (sembilan ratus delapan puluh satu juta tujuh hundred eighty-one million seventy-nine puluh sembilan ribu lima ratus empat puluh thousand five hundred forty-four rupiah). empat rupiah).

Penyampaian Bantuan Untuk Korban Banjir Bupati Bogor Hj Ade Yasin, Menanam Pohon Tabebuya Delivery of Aid for Flood Victims Bogor Regent Hj Ade Yasin, Planting Tabebuya Trees

Penyemprotan Disinfektan Untuk Memutus Penularan Covid-19 Spraying Disinfectants To Stop Covid-19 Transmission 94

Laporan Keuangan Tahunan Yang Telah Diaudit Audited Annual Financial Statements 

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PT Sentul City Tbk. (Perseroan) Sentul City Building Jl. MH. Thamrin Kav 8, Sentul City Bogor 16811, Indonesia

+62 21 8792 6555 +62 21 8792 6565 [email protected] www.sentulcity.co.id

Laporan Tahunan 2020 Annual Report 2020