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CORPORATE REPORT 2014

Corporate report - WIKA · were: WIKA Beton, WIKA Intrade and WIKA Realty. ... 4 wika corporaTe reporT 2014 wika corporaTe reporT 2014 5 WIKA has diversified business lines,

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Page 1: Corporate report - WIKA · were: WIKA Beton, WIKA Intrade and WIKA Realty. ... 4 wika corporaTe reporT 2014 wika corporaTe reporT 2014 5 WIKA has diversified business lines,

Corporatereport

2014

Page 2: Corporate report - WIKA · were: WIKA Beton, WIKA Intrade and WIKA Realty. ... 4 wika corporaTe reporT 2014 wika corporaTe reporT 2014 5 WIKA has diversified business lines,

Company Overview 2

Operation Area 4

Corporate History 6

Report From The Board of Directors 8

Financial Report 10

Business Pillars 12

Business Portfolio 13

Industry 16

Infrastructure & Building 18

Energy & Industrial Plant 20

Realty & Property 22

Human Capital 24

Corporate Social Responsibility 28

Good Corporate Governance 30

Awards 34

Board of Directors 36

Graphic of Total Equity

Business Pillars

Business Portfolio

Illustration of the model of WIKA’s Human Capital Management

Summary valuation report/evaluation of Good Corporate Governance Implementation in 2014

Comparation of GCG WIKA Assesment Score Result 2007-2014

Graphics and Tabels

WIKA and its subsidiaries consolidated statement of financial position as of December, 2014

Graphic of Net Sales

Graphic of Operating Income

Graphic of Net Income

Graphic of Income Attributable to Parent Entity Owner

Graphic of Total Assets

10

10

10

10

11

11

11

12

13

27

32

33

Net Sales in 2014

1.02USD

1.45

billion

Total New Contract

1.08USD

billion

New Contract of Construction Service

179.37USD

million

Total Contract of Precast Concrete bussines in 2014

billion

USD

Continuously generates growth in all circumstances since it never compromises on quality, due to passion to implement “ operational excellence for best results”

Soepomo, SH, Sp.N, LLMCommissioner/Acting President Commissioner

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2 3wika corporaTe reporT 2014 wika corporaTe reporT 2014

WIKA is Indonesia’s leading integrated EPC &

Investment company, which has been operating for

over 50 years. It was initially established under a name

of Perusahaan Negara Bangunan Widjaja Karja on

March 11, 1960, following the nationalization of Dutch

company, Naamloze Vennotchap Technische Handel

Maatschappij enBouwbedijf Vis en Co or NV Visen Co.

Its business activity at that time covered the

installation of electricity and water pipe. One of the

contributions of the company in this area can be found

in the infrastructure development of the most famous

sport stadium in Jakarta, Gelora Bung Karno.

Since then and up to today, WIKA’s business has been

continuously expanding, it never stops exploring

various areas of development. In the early 1970’s,

it expanded into a contractor company of civil and

residential buildings. Following its substantial growth,

WIKA turned into a limited liability (persero) company

on December 20, 1972. With the growth of the company

and the skills of WIKA personnel in the construction

industry, a number of subsidiary companies were

then established in order to support its mission as

business ventures that are able to create own products

independently. Some of the subsidiary companies

were: WIKA Beton, WIKA Intrade and WIKA Realty.

WIKA keeps exploring possibilities through utilizing

the advance knowledge and state of the art technology;

and gaining its strength through acquisition and the

establishment of joint ventures.

WIKA’s strength and known success enabled

the company to achieve trust as well as

acknowledgements from many parties. This was

shown by the success of its initial public offering (IPO)

Going global

on October 27, 2007 in Indonesia Stock Exchange.

At that time, 28.46% of its shares were released to the

public, while 68.42% of its shares were held by the

Government of Indonesia. Since December 2012, the

percentage of shares issuance was increased by 35%.

As an appreciation to its employees, they can also

participate in the company’s ownership through the

Employee / Management Stock Option Program (E/

MSOP) and Employee Stock Allocation (ESA).

WIKA had always played a big part in the development

of infrastructures in Indonesia, in which the benefits

can be enjoyed by the society. Suramadu bridge

(connecting Java and Madura) was another examples

of WIKA’s participation in the country’s development.

In 2010, WIKA arranged its new vision in order to face

the global change. WIKA intends to become one of

the best integrated EPC and Investment companies

in Southeast Asia by 2020. This vision is believed

will enable and help WIKA to reach a more optimum,

healthier and sustainable growth.

wika 2014

With a new perspective, WIKA restructures

its business segments into five pillars namely: Industry,

Infrastructure and Building, Energy & Industrial Plant,

Realty & Property, Investment. With such segmentation

WIKA’s performance is expected to be more solid to

attain “operational for the best results” through the

improvement of product quality, more efficient budget

and faster time project completion. By obtaining new

contracts in power generation and oil and gas sectors,

Wika further solidifies itself as one of the players in the

industry, as well as commences management business

of public infrastructure.

Company overview

WIKA keeps exploring possibilities through utilizing the advance knowledge and state of the art technology; and gaining its strength through acquisition and the establishment of joint ventures.

WIKA’s strength and known success enabled the company to achieve trust as well as acknowledgements from many parties.

WIKA intends to become one of the best integrated EPC and Investment companies in Southeast Asia by 2020.

Company Name : PT Wijaya Karya (Persero) Tbk.

Date of Establishment : March 11, 1960

Legal Establishment : Government Regulation No. 2 Year 1960 and

Stipulation Letter of Ministry of General Work

and Electric Energy (PUTI) No. 5 Dated

March 11, 1960.

Stock Listing : All of the Company’s shares are listed in

Indonesia Stock Exchange dated October 29,

2007 with ticker symbol: WIKA

Head Office : Jl. D.I. Panjaitan Kav. 9, Jakarta 13340-Indonesia

T. +6221 819 2808

F. +6221 819 1235

E. [email protected]

W. www.wika.co.id

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4 5wika corporaTe reporT 2014 wika corporaTe reporT 2014

WIKA has diversified business lines, with a focus remained on business related to WIKA core business through a vertical integration strategy (backward & forward integration), in order to provide total solution in the business.

nationwide overseas Saudi arabiaaljazair Myanmar Serawak Timor Leste

Head Office

Factory

Regional Office

Project

Representative Office

operation area

Aside from spreading its operation area worldwide, WIKA has also been developing construction market share in a number of countries

in Asia and Africa.

Precast FactoriesOwned by WIKA Beton11

3.39USD

billion

TotalOrder Book

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6 7wika corporaTe reporT 2014 wika corporaTe reporT 2014

Pursuant to Government

Regulation No.2/1960 and

Minister’s Decre of Public Works

and Electric Power (PUTL)

Decree No. 5 dated 11 March 1960,

WIKA was established with the

name of “Perusahaan Negara

Bangunan Widjaja Karja”. WIKA’s

business activities at the time

were electrical and water pipe

installation works.

The establishment of

PT Wijaya Karya Realty

as a progression of

the Realty Division.

Subsequently

PT Wijaya Karya Intrade

was also established

as the progression

of the Industrial and

Commercial Division.

WIKA has defined a new

vision, namely the Vision

2020; to become one of the

best integrated EPC and

Investment Company in

Southeast Asia. The vision is

believed to be able to provide

directions to every WIKA’s

line of business to achieve

optimum, healthy and

sustainable growth.

WIKA is getting more and

more established being a

player of the sector of power

plant as well as oil and gas

through projects it won.

With a number of projects

abroad, WIKA’ action is

increasingly recognized in

the international level.

WIKA established Subsidiary

of PT Wijaya Karya Gedung

that specializes in the

construction of high-rise

building. WIKA acquired

70.08% shares of

PT Catur Insan Pertiwi that

specializes in the field of

Mechanical Electrical. Then

PT Catur Insan Pertiwi was

renamed into PT Wijaya

Karya Insan Pertiwi.

During 2012, WIKA has

successfully completed its power

plant projects with total powers

consist as follows:

• Turbine Gas Power Plant Borang,

60 MW

• Engine Gas Power Plant Rengat

Ambon, 21 MW

• Diesel Engine Power Plant

Ambon, 34 MW

WIKA released its (Initial Public

Offering/IPO) on October 29, 2007

at the Indonesia Stock Exchange

(known at the time as the Jakarta

Stock Exchange). WIKA released

35% of its shares to the public,

so that the Government of the

Republic Indonesia held 65% while

the rest was owned by the public

including WIKA employees (after

ESA, ESOP and MSOP).

WIKA founded its first

Subsidiary company, namely

PT Wijaya Karya Beton.

Along with PT Jasa Sarana

and PT RMI, established

PT Wijaya Karya Jabar

Power specializes in the

development of Geothermal

Power Station (PLTP).

WIKA along with other

companies have succeeded

in constructing the Suramadu

Bridge, a prestigious project

that connects Java and

Madura islands.

• Established joint venture company

PT Prima Terminal Peti Kemas with

PT Pelindo I (Persero) and PT Hutama Karya

(Persero)

• WIKA performed an acquisition of

PT. Sarana Karya (Persero) (“SAKA”) formerly

owned by Government of the Republic of

Indonesia

• Trough Company’s subsidiary company

WIKA BETON established joint venture

company PT WIKA Kobe and PT WIKA

Krakatau Beton

• Share buyback with total 6.018.500 shares at

Rp1,706.77 per share on average.

WIKA formed several new

divisions, namely the

Construction Civil Division,

Buildings Division, Housing

Facilities Division, Concrete

and Metal Products Division,

Industrial Construction Division,

Energy Division, and Trading

Division. The projects that were

handled at that time consist of:

LIPI Building, and Building, and

also Irrigation Project.

“Perusahaan Negara

Bangunan Widjaja Karja”

was changed into “PT Wijaya

Karya”. WIKA then developed

into a construction

contractor by handling

various important projects

such as the installation of

electricity grids at Asahan

and the irrigation project of

Jatiluhur.

WIKA has obtained investment

outcome from the Diesel Power

Plant in Bali and further will

generate result from the power

plant in Ambon, Borang and

Rengat.

Subsidiary Restructuring

Program was conducted

to ensure business growth

sustainability in WIKA Realty,

WIKA Insan Pertiwi, and WIKA

Intrade.

Diesel Engine Power Plant Bali,

50 MW

1960 1982 2000 2008 2010 2012 2014

2007 19971972 2009 2011 2013

Corporate history

WIKA arranged its 2020 vision in order to face the global change. WIKA intends to become one of the best integrated EPC and Investment

Companies in Southeast Asia. This vision is believed to enable and help WIKA to reach a more optimum, healthier, and sustainable growth.

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8 9wika corporaTe reporT 2014 wika corporaTe reporT 2014

Dear Shareholders,

Throughout 2014 WIKA has shown its ability to improve

efficiently in all circumstances. Despite a trimming

state budget on government’s infrastructure projects,

as well as delays in a number of projects by the

State-Owned Enterprises (SOEs) coupled with land

acquisition constraints that impact on the realization

of the project, in 2014 WIKA continued to show

significant increase in its revenues. In line with this,

the price of WIKA’s share had shown a rising trend. The

improvements reached the highest level at the price

of Rp3,895 per share in December 2014, an increase of

34.3% compared with 2013.

customer demands to deliver services and products

efficiently and to add value in order to increase

customer’s trust in the Company. Therefor we must

increase the ability of our employees to create and

maintain quality design which will summarized in

product quality, cost efficiency and acceleration of the

time completion of the project in accordance with the

theme of “operational excellence for the best result.”

As a major player of the construction business in a

country whose economic growth is rapidly increase,

WIKA is obliged to maintain and to accelerate the

company’s growth in order to keep up with its

competitors. In this context, WIKA’s leaders are

expected to adjust the rhythm of growth acceleration

of the Company through Human Capital treatment for

displaying operational excellence for the best result,

through the increase quality of the product, cost, and

delivery.

2015 is the commencement year of AFTA (ASEAN

Free Trade Area) which means the arrival of new

competitors from ASEAN countries. However, we

remain optimistic that the efforts of the development

of human capital which was carefully planned, as well

as financial support and a robust infrastructure will

ensure that WIKA is able to compete even outperform

competitors in handling a wide range of public and

private projects in the country. Subsequently WIKA

remains a leader in every tender both government

and private projects. WIKA superiority against foreign

competitors has also been proven through WIKA

projects in Algeria, Timor Leste, Brunei, and Myanmar.

WIKA has also completed various government projects

including Procurement & Construction (EPC) for the

construction of oil and gas storage facilities, and power

plants which made WIKA’s presence as the only state-

owned construction working in the field of oil and gas

were also increasingly taken into account.

In addition to working on the domestic market, the

Company also penetrated foreign markets. A number of

undertaken projects in Algeria, Timor Leste, Brunei and

Myanmar has contributed 10% of WIKA’s total revenue.

We believe that innovation is a key aspect in to face

challenges of 2015. Innovation is needed to answer the

company performance

WIKA is always committed in ensuring that business

management activities are carried out carefully based

on the principles of Good Corporate Governance

(GCG). The Company conducted an assessment of GCG

implementation in accordance with the applicable

provisions which utilized the Company Corporate

Governance Scorecard, where for 2014 the Company

was awarded the Excellent with value 89.231.

WIKA’s Corporate Social Responsibility (CSR) is

directed to support the sustainability of the Company’s

business, therefore, WIKA as a company engaged

in engineering, procurement, construction (EPC)

and investment business, in carrying out business

activities always in synergy with nature, human

resources, and the community to look to the future

sustainability of the Company. One of the Company’s

synergy with nature, human and society was realized

through WIKA Empowerment Patronage in Kampung

Pasir Wind, Gadog - Ciawi, Bogor Regency, WestJava.

WIKA also put great interest and effort in increasing

the welfare of its employees as well as the welfare

of the retired employees through various benefit

and facility, including the attempt to improve the

performance of the pension fund management

foundation.

We believe with high morale and close togetherness,

the Company’s performance in the future will continue

to improve in order to achieve the vision of 2020. We

sincerely thank all employees and other stakeholders

as could have achieved performance that did not

disappoint in 2014. All of the achievements in 2014

were the result of hard work and dedication of our

employees, shareholders, partners, and stakeholders

that have widely given positive contributions to the

Company.

Bintang perbowo, Se, MM

President Director

report fromthe board of direCtors

WIKA’s leaders are expected to adjust the rhythm of growth acceleration of the Company through Human Capital treatment for displaying operational excellence for the best result, in those three things namely the quality of the “product, cost, delivery.”

Innovation is the key aspect to deal with challenges in 2015

WIKA had always played a big part in the development of infrastructures in Indonesia, in which the benefits can be contribute to the society.

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10 11wika corporaTe reporT 2014 wika corporaTe reporT 2014

2009 2010

CURRENCY 12,189 12,189

Financial Posititon

Total Assets 467,687,093 515,735,901

Total Liabilities 333,489,114 358,481,989

Total Equity 134,197,977 157,253,913

Results of Operations

Net Sales 540,721,740 494,127,647

Operating Income 39,785,954 39,183,790

Net Income 16,943,469 25,534,601

Income Attributable to:

- Parent Entity Owner 15,524,003 23,375,354

- Non Controlling Interest 1,419,466 2,159,247

Total 16,943,469 25,534,601

Financial Indicator

Return on Equity (%) 12.34 15.81

Cash Ratio (%) 35.25 33.76

Collection Period (days) 48.30 58.39

Debt to Equity Ratio (%) 2.65 2.43

Operating Income Margin (%) 7.36 7.93

Net Income Margin (%) 2.87 4.73

Earning per Share (IDR/share) 33.73 50.15

Number of Employees (persons) 1,290 1,371

2011 2012 2013 2014

12,189 12,189 12,189 12,189

687,101,228 904,156,879 1,033,305,661 1,305,698,719

504,844,642 671,627,644 768,562,132 897,235,496

182,256,586 232,529,236 264,743,529 408,463,223

638,971,047 812,635,522 975,032,205 1,022,497,029

54,187,160 71,376,254 99,758,956 114,933,070

32,666,816 42,929,574 51,224,192 61,596,179

29,083,501 39,051,713 46,758,549 50,470,212

2,990,213 3,877,862 4,465,643 11,125,966

32,073,714 42,929,574 51,224,192 61,596,179

17.11 18.35 19.33 22.22

24.27 23.28 19.00 27.15

62.38 49.67 45.37 57.48

2.95 3.16 3.18 2.74

8.44 8.78 10.23 11.24

4.58 4.81 4.80 4.94

60.59 77.96 92.93 100.19

1,398 1,619 1,809 1,912

GraphiC of net sales

2010

1000

500

02011 2012 2013 2014

(in million USD)

670

859

1,204 1,022975

GraphiC of operatinG inCome

2010

100

50

02011 2012 2013 2014

(in million USD)

53

73

90

115

100

GraphiC of net inCome

2010

50

25

02011 2012 2013 2014

(in million USD)

35

44

5462

51

2010

50

25

02011 2012 2013 2014

(in million USD)

GraphiC of inCome attributableto parent entity owner

32

39

49 5147

GraphiC of total assets

2010

2000

1000

02011 2012 2013 2014

(in million USD)

699

1,1401,306

1,033

923

GraphiC of total equity

2010

500

250

02011 2012 2013 2014

(in million USD)

213 245293

409

265

wika and its subsidiaries consolidated statement of financial position as of December, 2014

(expressed in USD, unless otherwise stated)

finanCial report

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12 13wika corporaTe reporT 2014 wika corporaTe reporT 2014

business pillars business portfolio

WIKA kept innovating. It slowly but surely turned into an integrated infrastructure company. A number of subsidiary companies were established

to make its business movement become stronger.

With a new perspective, WIKA restructures its business segments into five pillars namely: Industry, Infrastructure and Building, Energy and Industrial Plant, Realty and

Property, Investment. With such segmentation WIKA’s performance is expected to be more solid to attain “operational for the best results” through the improvement of

product quality, more efficient budget and faster time project completion.

infrastruCture & buildinG

enerGy & industrial plant

realty &property

industry investment

CIVIL CONSTRUCTION• Road and Bridge• Seaport, Jetty• Dam & Barrage

BUILDING CONSTRUCTION• Residential & Commercial• Airport• Facility

STEEL CONSTRUCTION• Erection• Equipment Instalation

EPC• Oil & Gas Plant• Petrochemical Plant• Cement Plant, Power Plant• Mining, Biofuels, Fertilizer

OPERATION AND MAINTENANCE• Power Plant• Industrial Equipment

REALTY & PROPERTY• Landed House• Highrise (Apartment,

Condotel, Office Mix Use)• Industrial Estate

PROPERTY MANAGEMENT

PRECAST CONCRETE• Precast Concrete Product• Natural Resources

Management

INDUSTRIAL FACILITIES• Steel Fabrication• Aluminum Casting• Plastic Injection

BITUMEN• Granular Asphalt• Extraction Asphalt

ENERGY

WATER ENVIRONMENT

TRANSPORTATION INFRASTRUCTURE

Se

rv

ice

S/p

ro

DU

cT

SD

ep

ar

TM

en

T, S

UB

SiD

iar

ieS

, aS

So

cia

Te

S Civil Work DepartmentOverseas DepartmentBuilding Department

Industrial Plant DepartmentEnergy & Power Department

Building Department Energy & Power Department

62.71%

51%

40%

20%

2.1%

0.4%

15%

20.4%

70%

99.50%

85.26% 96.50% 90.04% 99% 99%

investment in associate

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14 15wika corporaTe reporT 2014 wika corporaTe reporT 2014

WIKA’S ABILITY TO MAINTAIN A POSITIVE PERFORMANCE IN SUCH SITUATION COULD NOT BE SEPARATED FROM THE MANAGEMENT’S SUCCESS IN WORKING CLOSELY WITH ALL STAFF TO BE PREPARED TO DEAL WITH AN UNFORTUNATE SITUATION AND HAS KEEN EYES TO CAPTURE EVERY OPPORTUNITY.

IN ADDITION, EACH EMPLOYEE IS CHALLENGED TO PRODUCE OPTIMAL OUTPUT IN ACCORDANCE WITH THE 2014 THEME OF “OPERATIONAL ExCELLENCE FOR THE BEST RESULT.”

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16 17wika corporaTe reporT 2014 wika corporaTe reporT 2014

Income Attributable to Parent Entity Owner

Net Sales

17.91

291.72USD

USD

million

million

industry

2 3

Indonesian Chemical Alumina, Tayan

WIKA’s Industrial Area, Cibinong

WIKA Bitumen Granular Asphalt Factory, Kabungka, South East Sulawesi

1

2

3

1

Industry, that engaged in: Precast Concrete (works

on precast concrete product, natural resources

management), Industrial Facilities (works on

fabrication stainless, aluminum casting, plastic

injection) and Bitumen ( works on: granular asphalt

and asphalt extraction).

This Business Pillar is managed by: WIKA Beton, WIKA

Kobe, WIKA Krakatau Beton, PT Citra Lautan Teduh,

WIKA Industri & Konstruksi, WIKA Bitumen.

During 2014 Industry segment succeeded in obtaining

new contracts worth USD205.92 million, or a decrease

of 16.27% over the acquisition of new contracts in 2013,

which amounted to USD245.30 million.

Net sales in 2014 increased significantly by 14.69% to

USD291.25 million in 2014, from USD254.33 million

a year earlier. Cost of goods in 2014 amounted to

USD246.94 million, up 14.30% compared to the year

2013, which amounted to USD215.77 million. The

Total opening income worth USD36.95 million in 2014, increased by

from 2013 which was USD29.82 million.

23.90%

increase in Income Attributable to Parent Entity Owner

did not increase significantly as a result of the IPO

WIKA Beton that reducing the ownership on WIKA

Beton

This achievement strengthens the position of WIKA

as the best company in the field of Engineering,

Procurement and Construction (EPC) and integrated

investment in Southeast Asia. WIKA’s opportunity

to expand the market that have an impact on the

performance improvement will be more open as the

continuation of the Master Plan for the Acceleration

and Expansion of Indonesian Economic Development

(MP3EI) this year.

WIKA’s opportunity to expand the market that impacts

the performance improvement will be more open as

the Master Plan for the Acceleration and Expansion

of Indonesian Economic Development (MP3EI) will

continue to be implemented this year.

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18 19wika corporaTe reporT 2014 wika corporaTe reporT 2014

infrastruCture & buildinG

Infrastructure & Building is engaged in: Civil

Construction (work on Road & Bridge, Seaport, Jetty,

Dam and Barrage), Building Construction (work on

Residential & Commercial, Airport, Facility) and

Steel Construction (work on Erection, Installation

Equipment).

This Pillar is managed by: Civil Work Department, Civil

Work Department 1, Civil Work Department 2, Civil

Work Department 3, Overseas Department, Building

Department, and by 2 subsidiaries: WIKA Industri &

Konstruksi, WIKA Gedung.

During 2014 Infrastructure and Building segment

succeeded in obtaining new contracts worth USD831.90

mllion, an increase of 3.15 % over the acquisition of

new contracts in 2013, which amounted to USD806.46

million.

Infrastructure and Building Segment gained net sales

income of the sale of USD392.98 million, down 5.78%

compared to 2013, which amounted to USD417.59

million. Cost of goods and businesses also decreased

from USD383.13 million in 2013 to USD363.44 million in

2014.

Infrastructure and Building Segment also posted

an increase of 24.72% in joint venture income from

USD19.35 million in 2013 to USD24.19 million in 2014.

In 2014 the income attributable to parent entity owner

was USD16.37 million. Overall net sales in 2014 reached

the number USD393.75 million. Income Attributable to Parent Entity Owner

Net Sales

16.37

393.75USD

USD

million

million

Ngurah Rai International Airport, Bali

Casablanca Flyover, Jakarta

24.72%

Infrastructure and Building segment also posted Joint Ventures Profit for USD24.14 million, an increase of

compared to 2013, which amounted to USD19.35 million.

1 2 3

2

3

1

GMF Aero Asia,Garuda Indonesia Group

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20 21wika corporaTe reporT 2014 wika corporaTe reporT 2014

enerGy & industrial plant

Energy & Industrial Plant is engaged in: EPC ( works

on: Oil & Gas Plant, Petrochemical Plant, Cement

Plant, Power Plant, Mining, Biofuels, Fertilizer), and

Operation & Maintenance ( works on Power Plant,

Industrial Equipment). In this segment includes

investments in the electricity sector that the majority

of the funding and operation is controlled by Company.

This Pillar is managed by: Industrial Plant Department,

Energy & Power Department And by a subsidiary: WIKA

Rekayasa Konstruksi.

The Company’s comprehensive range of services for

the entire lifecycle of energy and industrial plants and

mastery in working capacity and constant delivery

of high quality work results are keys to perform as a

leading national contractor that is able to compete with

multinational oil & gas companies. Other than that, the

Company is also synergizing with foreign companies

and continuously increasing the quality through the

advancement of competency-based work team in order

to become the top profit contributor to the Company

and Indonesia.

During 2014 Energy and Industrial Plant Segment

succeeded in obtaining new contracts worth USD297.81

million, a slight decrease of 0.96% over the acquisition

of new contracts in 2013, which amounted to USD301.09

million.

Net sales in 2014 amounted to USD261.70 million, an

increase of 8.83% compared with the year 2013 which

amounted to USD240.46 million. Net sales in 2014

reached the number USD261.70 million, an increase of

8.83% compared with the year 2013 which amounted to

USD240.46 million, while income attributable to parent

entity owner was USD7.79 million.

Net sales from sales in 2014 amounted to USD261.70 million, an increase of

compared with the year 2013, which amounted to USD240.46 million.

8.83%

Alumina Indonesian Chemical Alumina (ICA), Tayan, West Kalimantan

Asphalt Mining, Pasar Wajo, Buton, South East Sulawesi

Diesel Power Plant 50 MW, Bali

Income Attributable to Parent Entity Owner

Net Sales

7.79

261.70USD

USD

million

million

1

1

2

3

2 3

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22 23wika corporaTe reporT 2014 wika corporaTe reporT 2014

Income Attributable to Parent Entity Owner

Net Sales

8.46

106.68USD

USD

million

million

The Hive Tamansari Apartment, Jakarta

Sky Lounge Tamansari, Tangerang

Tamansari Bukit Mutiara, Tangerang

realty & property

Realty & Property is engaged in: Realty & Property

(landed house, high rise building apartment, condotel,

office mixed use, industrial estate) and Property

Management.

This Pillar is managed by Building department by 2

subsidiaries: WIKA Building, WIKA Realty.

The business has expanded to essential projects

intensification like real estates, hotels, apartments,

office buildings and industrial area expansion. WIKA

Realty provides a quality service that is unique to

the industry and delivers a distinct competitive

advantage. Top brands like Taman Sari, The Hive, La

Grande, The Lagoon Tamansari and De Papilo reflects

the Company’s achievement in this industry. The

Company is striving to meet the need of housing

14.29%

Net sales in 2014 amounted to USD106.68 million, an increase of

from the previous year which amounted to USD92.83 million.

1 2 3

1

2

3

occupancy demand, and with its extensive and

detailed knowledge of the market result in a better

understanding of customer’s demand.

During 2014 Realty and Property segment succeeded

in obtaining new contracts worth USD110.76 million,

or an increase of 16.27% over the acquisition of new

contracts in 2013, which amounted to USD101.73

million.

Total Operating Income in 2014 was USD17.04 million

an increase of 21.65% to the year 2013 which amounted

USD14.00 million, while the income attributable to

parent entity owner was USD8.46 million in 2014. This

segment’s net income in 2014 amounted to USD106.68

million, an increase of 14.29% from the previous year

which amounted to USD92.83 million.

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24 25wika corporaTe reporT 2014 wika corporaTe reporT 2014

WIKA has continuously growing and brought

consequences to the Company to implement human

resource management as human capital. The

implementation of human capital management

will support the achievement of the company’s

vision to become the best company in engineering,

procurement, and construction or EPC as well as

investment in the Southeast Asia.

The implementations of human capital management

become crucial matters as the presence of employees

have a strategic function for WIKA. Indefinitely,

employees’ welfare, developmental program as well as

procurement educational training also implemented

along with human capital. In implementation of human

capital management, employment management

done by using dignity concept as employees regarded

as company asset. By appointing dignity of the

employees, it means the company values the individual

as a whole human being, that is their physically/

material as well as their psychological/immaterial

being. This concept is believed to make individuals feel

appreciated, happiness, have passion in working and

connection to the company, which will lead to high

work performance.

Along with higher work performance, the company

keeps on strengthening the implementation of human

capital management. Several actions have already

been done throughout the reporting period, among

others:

1. Organisational research; organisational review to

adjust WIKA business development and long-term

direction plan

2. Recruitments of new employees

3. Development program to create successful associate

with Advance Leadership Program (ALP) and

Executive Development Program (PPE)

4. Established WIKASTRIAN, a Leadership Training

Centre based on local wisdom

5. Research on generation gap in the company,

characteristic identification “Generation Y” and

followed by forming program to answer generation

gap characteristic.

6. Implemented excellence service concept to

employees by using “care and speed” motto, paying

attention to employees’ need, and giving fast service.

Dignifying someone as a whole person is believed to boost a sense of appreciation, a sense of happiness, working spirit, engagement with the Company, and finally generating the excellent performance.

The implementation of human capital management shall be crucial as the employee existence gives strategic function to WIKA.

human Capital

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26 27wika corporaTe reporT 2014 wika corporaTe reporT 2014

WIKA regards its employees as human capital, the

primary capital in the company. Every single employee

is an investor to the company, as they were expected

to invest all of their competencies to the company.

WIKA used competencies based human capital and

dignity concept to every employee in implementing

human capital management to fulfilled a win-win

solution on organization as well as individuals needs.

The company realizes that human capital holds an

important role as business partner, thus set the year

2014 as Human Capital Year.

Human capital Management

The model of wika’s Human capital Management can be illustrated as follows:

WIKA sees each employee as “human capital” that is the main capital in the company. Each employee is the investor for the company, which is expected to invest all their competence to the company.

WIKAVISION & MISSION

TOWARD 2020

WIKA GOVERNANCEWIKA CULTURE &

VALUES

RESULTSWIKA SCORE CARDS

HC SCORE CARDSBRAND EMPLOYER

WIKA BUSINESS PORTFOLIO

STRATEGIC GOALSGRAND STRATEGY

HC STRATEGYBUSINESS

ALIGNMENT

SPEED

CARE

TALENT &SUGGEStION

LEARNING &DEVELOPMENt

RETIREMENT

TOTALREWARD

EMPLOYEERELATIONS

RECRUITMENT &PLACEMENT

PERFORMANCEMANAGEMENt

ORGANIzAtIONDEVELOPMENt

PEOPLE

COMPETENCY

DIGNIty

CULTURE

LEADERSHIP

ENGAGEMENt

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28 29wika corporaTe reporT 2014 wika corporaTe reporT 2014

WIKA’s Corporate Social Responsibility (CSR) is aiming

to support the sustainability of the Company’s business

therefore WIKA conducted its business activities to

be in synergy with its environment, human resources,

and the community. To further improve the CSR

performance, in late 2014 WIKA has begun developing

a CSR blueprint referring to the ISO26000 guidelines.

As part of the preparation, a mapping on strategic

sustainability issues that had a significant impact

on the company was carried out. Based on the CSR

blueprint, WIKA’s CSR activities will be increasingly

focused toward making a positive contribution, to all

stakeholders as well as to the Company.

WIKA is committed to being an EPC company

and performing various investments that support

environmental sustainability. Gradually, the Company

seeks to carry out its operations through the

development of environmentally friendly construction

and buildings. Up to 2014 WIKA has implemented

331,955 tree plantings in numerous WIKA’s operational

areas.

In 2014, the WIKA Partnership Program focused on

two (2) business sectors, i.e. trade and services. In the

services sector, funds of capital loans were disbursed

for small business partners. In 2014, the number of

the WIKA’s trained partners in the services sector was

188. The partnership fund distribution was spread

in several areas, such as Jakarta, West Java, West

Sumatra, Central Java, East Java and Yogyakarta. As

for the trade sector, WIKA has disbursed capital loans

WIKA believes that through sustainable activities, a harmonized growth in economic, society and environmental can be achieved.

Corporate soCial responsibility

PROFITFair Operating PracticesCorporate Governance

Consumer Issues

PLANETThe Environment

PEOPLELabour Pratices

Human RightCommunity

Involvement & Development

COMMUNITY EMPOWERMENT

EDUCATION

ENVIRONMENT

HEALTH

1 2

3 4

to batik makers, leather craftsmen, sellers of fertilizers

and pesticides as well as a grocery shop. The number

of partners in this sector in 2014 was eight (8) trained

partners spread in Jakarta, West Java and Central Java.

Management applies the principle that an increase in

the welfare of employees WIKA must be proportionally

in line to the growth of the company’s performance.

On a continuous basis, the Company conducts

training to improve the competence and skills of its

employees. WIKA ensure the welfare of the employees

by providing the best benefit and facilities, as well as

the welfare of the retired employees. The management

also improving the performance of pension fund

management foundation.

Sengon Tree Planting, Bogor Bosletong Education & Training Society Empowerment Workshop, Ciawi Bogor1 2 3 4

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30 31wika corporaTe reporT 2014 wika corporaTe reporT 2014

GCCGGCGCG

Good corporate Governance

Good Governed corporation

Good corporate citizenwika’s next Mission

To comply with the applicable

law and regulation (obligation

and voluntary).

To establish a better ‘internal

control’ management especially

in effectively handling business

risks through suitable risk

management.

To attain a position as an ethical

and responsible company,

also known as good corporate

citizen.

commitment in GcG implementation

Good Corporate GovernanCe

WIKA sought the importance of Good Corporate

Governance (GCG). A strong commitment to

implement GCG is a foundation to achieve triple

bottom line, through a healthy and strong financial

work performance, and development of excellent

human resources. Moreover, WIKA also contributing to

maintain continuous green natural resources.

Through planned, systematic, and continuous

implementation of GCG, WIKA has already become

one of highly competitive open-listed company. It is

proven by WIKA’s growth synergy, diversification of

business lines, stock performances, excellent human

capital, and its ability to develop external stakeholders.

This achievement has been acknowledge as WIKA is

listed in 30 Indonesian Issues in ASEAN Corporate

Governance Scorecard, released in Indonesia Institute

for Corporate Governance (IICG) in 25th March 2013

with Indonesia Trusted Company title.

All of the employees of WIKA are proud with the

achievement since ASEAN Corporate Governance

Scorecard is a benchmark for open-listed company’s

GCG, approved by ASEAN capital market authorities as

part of preparation to enter ASEAN free market area

2015. The trusted company title has also showed that

WIKA’s commitment to build systematic , planned and sustainable Good Corporate Governance (GCG) has brought WIKA in becoming an open company that creates continues competition shown by the growth of business synergy, diversified business unit, stock performance, excellent human capital, and ability to support external stakeholders.

WIKA has succeeded in implementing GCG in national

level and reassured the community that WIKA has

committed in implementing corporate governance

consistently and continuously. This achievement

has motivated WIKA to compete in ASEAN Economic

Community era.

By implementing GCG, it means the company obeys

the Regulation of Ministry of State Enterprises No. PER

01/MBU/2011 dated 1st August 2011 on Implementation

of Good Corporate Governance in state enterprises.

The implementation of GCG has positive impact on the

internal environment of the company as well as the

external environment. The implementation of GCG in

state enterprises is expected:

1. Optimizing state enterprises value thus the company

have strong competitiveness, nationally and

internationally, thus it can maintain its existence

and its competitiveness continuously.

2. Encourage state enterprises management

professionally, efficiently, and effectively, as

well as empower the function and increase the

independence of the company organ

3. Encourage the company organ in making decision

and running the action based on high moral

value and comply with the legislation, as well

as acknowledgement to state-enterprises’ social

responsibilities to stakeholders and environment

around it.

4. Increase the contribution of state enterprises in

national economy

5. Contribute to favorable climate in national

investment development.

the implementation of Good Corporate Governance gives a positive impact to both intenal and external environment in the Company.

implementation of operational activities run

in accordance with prevailing legislation. GCG

implementation is an act of obedience to the

Regulation of Ministry of State Enterprises No.PER

01/MBU/2011. Company sought GCG as base to

the realization of business ethics practices as

Good Corporate Citizen, aside from functioning as

maintaining company sustainability.

As an open-listed company that administered

professionally, WIKA has always try to make the

The purpose of GcG implementation

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32 33wika corporaTe reporT 2014 wika corporaTe reporT 2014

The purpose of GCG implementation are:

1. Optimizing state enterprises value thus the

company have strong competitiveness, nationally

and internationally, therefore it can maintain its

existence and its competitiveness continuously

2. Giving certainty and benefits to the company’s

stakeholders. Creating balance of company’s interest,

in accordance to the company’s values. Increasing

credibility and company’s competitiveness.

3. Building company’s positive image. Reinforce the

restrictions relating to business ethics.

Since 2006, WIKA has assess the implementation of

GCG periodically:

1. Test and asses GCG implementation in the company

through elaborating condition and comparing

indicator and assessment parameter which has been

specified.

assessment of GcG implementation

No. Aspect/Indicator/Parameter Weight2014 Achievement

DescriptionScore Achievement (%)

I Commitment to continuous GCG implementation 7.000 5.930 84.7 Good

II Shareholders and GMS/capital owner 9.000 8.390 93.2 Very Good

III Board of Commissioners/Supervisory Board 35.000 33.902 96.9 Very Good

IV Directors 35.000 32.734 93.5 Very Good

V Information disclosure and Transparency 9.000 8.274 91.9 Very Good

VI Other aspect 5.000 0.000 0.0 Not Quite Good

89,231 Very Good

Summary valuation report/evaluation of Good corporate Governance implementation in 2014 Comparation of GCG wika

assesment sCore result 2007-2014

201120102009 2014201320082007

81.83 85.56 86.20 86.0886.97 89.34 89.27

GCG Scores converted in accordance with SK-16/S.MBU/2012(Source : Internal Simulation)

WIKA’s perspective toward GCG is a basic foundation to create a good business ethics to be a Good Corporate Citizen and to create a company’s sustainability.

WIKA as a public companywith a professional management always striving to implement its operational activities in compliance with the prevailing regulations.

2. Give overview of the assessment results through

the provision of value on GCG implementation,

after recommendation is proposed, in order to

reduce the gap between the level of practice with

indicators and assessment parameters

3. Monitoring the consistency of GCG

implementation in the company organizational

environment, as well as to obtain feedback for

the improvement and development of corporate

governance policies

4. Encourage company management to increase

professionalism, transparency, and efficiency, as

well as empowering the function and increase the

independence of company organ.

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34 35wika corporaTe reporT 2014 wika corporaTe reporT 2014

international Federation of asian and western Pasific Contractors’ associations (iFawpca)

March 5th, 2014

IFAWPCA Gold Medal for Civil Engineering Construction of Jatigede Dam

Majalah investor

May 8th, 2014

Top Performing Listed Companies 2014

BUMn Marketing award 2014

august 21st, 2014

Silver in Strategic Marketing & Bronze Tactical Marketing

warta ekonomi award

april 29th, 2014

Indonesia Most Admired CEO 2014

warta ekonomi award

april 29th, 2014

Indonesia Most Admired Company 2014

warta ekonomi

november 26th, 2014

Most Powerful & Valuable Company Integrated Infrastructure and Construction Category (Property)

corporate image award 2014

June 4th, 2014

The Best in Building and Managing Corporate Image

Economic Challenges Awards 2014 Infrastructure Category

BUMn Marketing award 2014

august 21st, 2014

awards

WIKA further solidifies itself as one of the players in the industry, as well as commences management business of public infrastructure.

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36 37wika corporaTe reporT 2014 wika corporaTe reporT 2014

He has been reappointed as the President Director since

April 22, 2015. Formerly, he was the President Director for

the period of 2008-2014. Bintang Perbowo was the Finance

Director of PT Pembangunan Perumahan (Persero) from

1999-2008 and had other important positions in the same

company.

He earned Master Degree in International Management from

Prasetya Mulya Business School in 1997 and Bachelor Degree

in Economics from Krisnadwipayana University, Jakarta in

1990. Bintang Perbowo earned an award as “The Performing

Construction CEO Indonesia Most Admired CEO” in 2013

from Warta Ekonomi. In 2014 he was awarded the “Best of

the CEO Commitment on Human Capital Development” from

Dunamis.

Bintang perbowo, Se, MMpresident Director

1

12

34 5

67

He has appointed as Director of PT Wijaya Karya (Persero)

Tbk. since April 25, 2013. Destiawan Soewardjono started his

career in PT Wijaya Karya (Persero) Tbk. since 1988 and other

operational positions in WIKA as the General Manager of

Overseas Division (2012-2013), Manager of Overseas Division

(2008-2011), and Project Manager of East West Motorway

– Aljazair (2009-2010), Now he is serving as President

Comissioner of the Subsidiary WIKA Gedung.

He earned his Master degree in Management from University

of Gajah Mada, Yogyakarta in 2008 and his Bachelor Degree

in Civil Engineering from University of Brawijaya, Malang

in 1987.

ir. Destiawan Soewardjono, MBaDirector of operation iii

5

He has been appointed as Vice President Director since April

22, 2015. Besides, he is the President Commissioner of WIKA

Beton since 2013 and formerly, the Director of Operation I

(2008-2014). Budi Harto started his career in the Company

since 1984 and held several important positions, among

others: the President Commissioner of PT WIKA Gedung

(2009-2010), the President Commissioner of PT WIKA Intrade

(2008- 2009), General Manager of General Civil in 2008, and

General Manager of Operation 1 (2006-2007).

He earned Master Degree Program in Industrial Psychology

from Universitas Tujuh Belas Agustus, Surabaya in 2002,

Master degree in Management from Gajah mada University,

Yogyakarta in 1997, and Civil Engineering from Universitas

Sebelas Maret, Surakarta in 1983.

ir. Budi Harto, MMvice president Director

2

He has become the Director of Finance of PT Wijaya

Karya (Persero) Tbk. since April 25, 2013 and the President

Commissioner of PT WIKA Industri & Konstruksi since 2013.

Adji Firmantoro started his career in PT WIKA since 1984

and has been assigned in several important positions in the

Subsidiary Companies, among others: Director of Finance of

PT WIKA Beton (2002-2011) and PT WIKA Intrade (2011 2013).

This time, he is still serving as Commissioner of the

Subsidiary PT WIKA Industri & Konstruksi. He earned his

Master Degree from PPM Business School, Jakarta (1997)

and his Bachelor Degree in Economics from Gadjah Mada

University, Yogyakarta (1984).

Drs. adji Firmantoro, MMDirector of Finance

6

Indonesian citizen who was born in Bandung on January,

28 1963. In 2012 he worked as an Expert Staff of President

Director of PT. Angkasa Pura II and in 2014 became the

Director of Cargo and Business Development of PT. Angkasa

Pura II. Today he provides consultancy services to Bappenas

and Puslitbang Udara.

He graduated in Physics from Bandung Institute of

Technology in 1990 and in 1998 he earned his MBA degree in

Technology also from Bandung Institute of Technology.

Yusmar anggadinataDirector of Human capital & Business Development

7

Indonesia citizen who was born in Jakarta on May, 7 1961.

From 2000 until 2007 he was the Manager for Bekri Lampung

Irrigation Project and has been assigned in several important

positions, among others were the Commercial Manager for

Divisi Sipil Umum II and Manager for Divisi Sipil Umum I.

Today he is the General Manager of Departemen Sipil

Umum I.

Gandira Gutawa Sumapraja graduated from Bandung

Institute of Technology in 1985 majoring in Civil Engineering.

He then earned his Master Degree in Management from

Universitas Indonesia in 2000.

ir. Gandira Gutawa, MMDirector of operation i

3

He is the Director of Operation II of PT Wijaya Karya (Persero)

Tbk. Also, he is the President Commissioner of PT Wika

Rekayasa Konstruksi since 2013. Bambang Pramujo started

his career in PT Wijaya Karya (Persero) Tbk since 1984 and

held several important positions in the Company as well as

the Subsidiary Companies, among others: the Commissioner

of PT Wika Rekayasa Konstruksi (July-October 2013) and

the President Commissioner of PT Marga Nujyasumo Agung

(MNA).

He was also the General Manager of various business units,

e.g. EPC Dept., Energy Dept., Utility Dept., and Industrial

Plant Dept. (2005-2013). He earned his Master Degree in Civil

Engineering from University of Indonesia, Jakarta in 1999,

and Bachelor Degree in Civil Engineering from Universitas

Sebelas Maret, Surakarta in 1983.

ir. Bambang pramujo, MTDirector of operation ii

4

board of direCtors

Through the operating system implementation, there is no resources are wasted or unused in any operation since proven to be efficient and effective.

Through Operational Excellence, WIKA builds management integrations that boost productivity, increase efficiency and grow profits.

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38 39wika corporaTe reporT 2014 wika corporaTe reporT 2014

quality seCurity safety health environment

wika’s policy for the Quality control, risk and Safety Management System

WIKA has developed an integrated policy covering

the management system of Quality Control, Risk

and Safety within PT Wijaya Karya (Persero), Tbk.

Such policy is issued by the top management to its

employees so that every individual in the company

can continuously develop and perform their jobs

productively, in order to support their business units,

as well as the entire WIKA companies in achieving the

work objectives.

Customers as stipulated by this policy include not only

those who useWIKA’s services, but also include anyone

who has connections to WIKA. This needs to always be

reviewed by the top management periodically.

WIKA’s policies are distributed by the top management to its employees in order to support work productivity with zero accident, efficient use of resources and prevention of environmental incident.

wika QSSHe policy

The WIKA QSSHE Policy has been made separated

from other policies in order to emphasize WIKA’s solid

commitment that was issued by the top management

to its employees, that is to avoid work related accident

and illness, and to avoid environment pollution in

accordance with each line of work. This Policy is inline

with WIKA’s objectives of zero accident, efficient use of

resources, and prevention of environment incident.

Safety Morning Talk, Jati Gede Dam, Sumedang, West Java.

Safety Morning Talk, Eastwest Motorway Project-Algeria.

Gymnastics Taiso, Palm Oil Refinery Complex Project, Kota Barum, South Kalimantan.

Safety Talk - Baburaja Persimpangan Road, Brunei Darussalam.

1

2

3

4

1 2

3 4

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40 41wika corporaTe reporT 2014 wika corporaTe reporT 2014

Since the Company listed its shares for the first time in

October 29, 2007 with the agreement of parliament

No. KD. 01/3406/DPRRI/2007 dated April 26, 2007 and

Extraordinary General Meeting of Shareholders No.RIS

15/D2.MBU/2007 which is held in June 14, 2007, and

also based on approval letter from Ministry of State

Owned Enterprise No. F-717/ MBU/2007, dated October

8, 2007 regarding the approval for Employee Stock

Allocation (ESA) and Employee Stock Option Plan &

Management Stock Option Plan (ESOP/MSOP),

PT Wijaya Karya has its own stock code named

WIKA.

The total shares owned by WIKA as December 30,

2014 is counted as 6,149,225,000 shares. Those shares

consist of Government owned shares as 65.05%, local

investors as 15.59%, foreign investors as 18.13% and

employees as 1.23%. During 2014, the highest stock

price of WIKA has been achieved on Quarter IV at

Rp3,895 and the lowest price occured on Quarter I at

Rp1.570. At the end of 2014, total market capitalization

amounted at Rp2.6 trillion.

Basic information

Stock exchange listing : Indonesia Stock Exchange

Industry : Engineering & Construction

Services

Stock Code (Reuters) : WIKA.JK

Trading unit : Share

Market Capital

(as of 30 Dec 2014) : USD1.854.130.774

Number of shareholders : 6.149.225.00

WIKA is committed to the stakeholders by continuously innovating in order to achieve a better performance in all aspects.

stoCk information

Shareholders 2009 2010 2011 2012 2013 2014

Government 68.42% 68.42% 66.65% 66.37% 68.42% 65.05%

Employee 3.14% 2.98% 3.03% 2.02% 1.60% 1.23%

Public

Foreign Investors 1.20% 1.78% 11.97% 14.38% 14.45% 18.13%

Local Investors 27.24% 26.82% 18.35% 17.23% 18.80% 15.59%

Shareholders composition

Shareholders Structure

65,05%Government

15.59%Public (local)

18.13%Public (foreign)

1,23%Employees

Total outstanding shares as December 30, 2014:

6.149.225.000

Deviden policy

WIKA became a public company in 29 October 2007.

The Company continuously strives to fulfill the

rights of the shareholders and yet placing attention

on Company’s financial condition. The Company’s

decision on dividend payout is based upon, among

others, the net income earned during the fiscal year,

the Company’s obligation to allocate reserve funds in

conformity with applicable rules and the Company’s

financial condition. In addition, the Company also

considers future growth and expansion plans in the

stipulation of dividend sharing.

Since going public in 2007, the Company has placed

dividend payout to all shareholders in 4 (four)

occasions as follows:

• On May 15, 2008 the Annual General Meeting of

Shareholders stipulated the first dividend payout, at

30% of WIKA’s net income in fiscal year 2007 or equal

to USD2.86 million.

• On the second year after going public, WIKA’s

dividend payment was based on the stipulation of

Annual General Meeting of Shareholders on 28 May

2009, at 30% of WIKA ‘s net income in fiscal year 2008

of USD3.73 million.

• On the third year, WIKA paid dividend based on

the stipulation of Annual General Meeting of

Shareholders on 29 April 2010, at 30% of WIKA‘s Net

Income in fiscal year 2009 or USD4.66 million.

• During the fourth year of going public, based on

the stipulation of Annual General Meeting of

Shareholders on 12 May 2011, WIKA increased its

Dividend Payout ratio to 35% of WIKA’s net income

in fiscal year 2010 in the amount of USD8.18 million.

• During the fifth year of going public, based on

the stipulation of Annual General Meeting of

Shareholders on 1 May 2012, WIKA increased its

Dividend Payout ratio to 35% of WIKA’s net income

in fiscal year 2010 in the amount of USD8.73 million.

• During the sixth year of going public, based on

the stipulation of Annual General Meeting of

Shareholders on 25 April 2013, WIKA set its Dividend

Payout ratio to 30% of WIKA’s net income in fiscal

year 2010 in the amount of USD11.27 million.

• Entering the seventh year since WIKA became

a public company, based on the decisions of the

General Meeting Shareholders in March 27, 2014,

WIKA maintained its dividend payout ratio to 30% of

WIKA’s net profit of fiscal year 2013 which amounted

to USD13.95 million.

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Head Office

Jl. D.I. Panjaitan Kav. 9Jakarta 13340, IndonesiaP. +62 21 819 2808 +62 21 850 8640 +62 21 850 8650F. +62 21 819 1235E. [email protected]. www.wika.co.id