PT BLISS PROPERTI INDONESIA TBK AlAND ITS ......Suatu audit melibatkan pelaksanaan prosedur untuk memperoleh bukti audit tentang angka-angka dan pengungkapan dalam laporan keuangan

PT BLISS PROPERTI INDONESIA TBK DAN ENTITAS ANAKNY AlAND ITS SUBSIDIARIES

LAPORAN KEUANGAN KONSOLIDASIAN/ CONSOLIDATED FINANCIAL STATEMENTS Pada dan Untuk Tahun yang Berakhir Tanggal 31 Desember 2019/ As of and For the Year Ended December 31, 2019

dan/and

LAPORAN AUDITOR INDEPENDEN/ INDEPENDENT AUDITORS' REPORT

Nexia KPS

LAPORAN AUDITOR INDEPENDEN

Laporan No. 00388/3.0357/AU.1/03/0749-1 /1N/2020

Pemegang Saham, Dewan Komisaris dan Direksi PT BLISS PROPERTI INDONESIA Tbk

Kami telah mengaudit laporan keuangan konsolidasian PT Bliss Properti Indonesia Tbk dan entitas anaknya terlampir, yang terdiri dari laporan posisi keuangan konsolidasian tanggal 31 Desember 2019, serta laporan laba-rugi dan penghasilan komprehensif lain, laporan perubahan ekuitas, dan laporan arus kas konsolidasian untuk tahun yang berakhir pada tanggal tersebut, dan suatu ikhtisar kebijakan akuntansi signifikan dan informasi penjelasan lainnya.

Tanggung jawab manajemen atas laporan keuangan konsolidasian

Manajemen bertanggung jawab atas penyusunan dan penyajian wajar laporan keuangan konsolidasian tersebut sesuai dengan Standar Akuntansi Keuangan di Indonesia, dan atas pengendalian internal yang dianggap perlu oleh manajemen untuk memungkinkan penyusunan laporan keuangan konsolidasian yang bebas dari kesalahan penyajian material, baik yang disebabkan oleh kecurangan maupun kesalahan.

Tanggung jawab auditor

Tanggung jawab kami adalah untuk menyatakan suatu opini atas laporan keuangan konsolidasian tersebut berdasarkan audit kami. Kami melaksanakan audit kami berdasarkan Standar Audit yang ditetapkan oleh Institut Akuntan Publik Indonesia. Standar tersebut mengharuskan kami untuk mematuhi ketentuan etika serta merencanakan dan melaksanakan audit untuk memperoleh keyakinan memadai tentang apakah laporan keuangan konsolidasian tersebut bebas dari kesalahan penyajian material.

!! _. .... • foRU.\1 Or FIRMS

KANAKA PURADIREDJA, SUHARTONO Branch Jakarta Selatan Branch licence No. 1165/KM.1/2017 18 Office Park Tower A. 20th 1\oor Jl. TB. Simatupang No. 18. Pasar Minggu Jakarta 12520 - Indonesia P. 62 - 21 22708292 F. 62 - 21 22708299 E. [email protected] www.kanaka.co.id

The original report included herein is in Indonesian language.

INDEPENDENT AUDITORS' REPORT

Report No. 00388/3.0357 /AU.l/03/0749-111/V/2020

The Stockholders, Board of Commissioners and Directors PT BLISS PROPERIT INDONESIA Tbk

We have audited the accompanying consolidated financial statements of PT Bliss Properti Indonesia Tbk and its subsidiaries, which comprise the consolidated statement of financial position as of December 31, 2019 and the consolidated statements of profit or loss and other comprehensive income, changes in equity and cash flows for the year then ended, and a summaty of significant accounting policies and other explanatoty information.

Management's responsibility for the consolidated financial statements

Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with Indonesian Financial Accounting Standards, and for such internal control as management determines is necessaty to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

Auditors' responsibility

Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with standards on auditing established by the Indonesian Institute of Certified Public Accountants. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether such consolidated financial statements are free of material misstatement.

NEXIA KI'S • e Konoko l'urodirodjo. S.hortono is • 1110mbof fin11 of tho .,..,.. lntomational• notworlt. •201~ N

Nexia KPS

Tanggung jawab auditor (lanjutan)

Suatu audit melibatkan pelaksanaan prosedur untuk memperoleh bukti audit tentang angka-angka dan pengungkapan dalam laporan keuangan konsolidasian. Prosedur yang dipilih bergantung pada pertimbangan auditor, termasuk penilaian atas risiko kesalahan penyajian material dalam laporan keuangan konsolidasian, baik yang disebabkan oleh kecurangan maupun kesalahan. Dalam melakukan penilaian risiko tersebut, auditor mempertimbangkan pengendalian internal yang relevan dengan penyusunan dan penyajian wajar laporan keuangan konsolidasian entitas untuk merancang prosedur audit yang tepat sesuai dengan kondisinya, tetapi bukan untuk tujuan menyatakan opini atas keefektivitasan pengendalian internal entitas. Suatu audit juga mancakup pengevaluasian atas ketepatan kebijakan akuntansi yang digunakan dan kewajaran estimasi akuntansi yang dibuat oleh manajemen, serta pengevaluasian atas penyajian laporan keuangan konsolidasian secara keseluruhan.

Kami yakin bahwa bukti audit yang telah kami peroleh adalah cukup dan tepat untuk menyediakan suatu basis bagi opini audit kami.

Opini

Menurut opini kami, laporan keuangan konsolidasian terlampir menyajikan secara wajar, dalam semua hal yang material, posisi keuangan konsolidasian PT Bliss Properti Indonesia dan entitas anaknya tanggal 31 Desember 2019, serta kinerja keuangan dan arus kas konsolidasiannya untuk tahun yang berakhir pada tanggal tersebut. sesuai dengan Standar Akuntansi Keuangan di Indonesia.

Penekanan hal-hal

Seperti diungkapkan dalam Catatan 42 pada laporan keuangan konsolidasian terlampir, laporan keuangan konsolidasian PT Bliss Properti Indonesia Tbk dan entitas anaknya disusun dengan asumsi bahwa PT Bliss Properti Indonesia Tbk dan entitas anaknya akan melanjutkan usahanya secara berkelanjutan. Penerapan dasar kelangsungan usaha didasarkan pada asumsi bahwa PT Bliss Properti Indonesia Tbk dan entitas anaknya akan dapat merealisasikan asetnya dan menyelesaikan kewajibannya dalam kegiatan bisnis normal.

a. Kami membawa perhatian Saudara pada Catatan 42 atas laporan keuangan konsolidasian yang mengindikasikan bahwa PT Bliss Properti Indonesia Tbk dan entitas anaknya mengalami rugi neto sebesar Rp 150.934.400.850 untuk tahun yang berakhir pada tanggal 31 Desember 2019 dan, pada tanggal tersebut. liabilitas lancar Perusahaan melampaui total aset lancarnya sebesar Rp 278.176.164.182.

,~ KANAKA PURADIREDJA, SUHARTONO


Auditors' responsibility (continued)

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditors' judgment, including the assessment of risks of material misstatement of the consolidated financial statements whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the entity's preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as weel as evaluating the overall presentation of consolidated finanial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of PT Bliss Properti Indonesia and its subsidiaries as of December 31, 2019, and its consolidated financial performance and cash flows and for the year then ended, in accordance with Indonesian Financial Accounting Standards.

Emphasis of matters

As disclosed in Note 42 to the accompanying consolidated financial statements, the consolidated financial statements of PT Bliss Properti Indonesia Tbk and its subsidiaries have been prepared in the assumption that PT Bliss Properti Indonesia Tbk and its subsidiaries will continue as going concern. The application of the going concern basis is based on the assumption that PT Bliss Properti Indonesia Tbk and its subsidiaries will be able to realise their assets and settle their Liabilities in the normal course of business.

a. We draw attention to Note 42 in the consolidated financial statements which indicates that PT Bliss Properti Indonesia Tbk and its subsidiaries incurred recurring Losses which resulted to deficit of Rp 150,934,400,850 as of December 31, 2019 and, as of that date, the Company's total current Liabilities exceeded its total current assets by Rp 278,176,164,182.

•

Nexia KPS

Penekanan hal-hal (lanjutan)

b. Seperti diungkapkan dalam Catatan 35 atas laporan keuangan konsolidasian terlampir, PT Bliss Properti Indonesia Tbk mengakui piutang dari PT Bintang Baja Hitam, pihak berelasi, pada tanggal 31 Desember 2019 sebesar Rp 31.254.381.216 (sebelum cadangan kerugian penurunan nilai piutang pihak berelasi) yang berasal dari dana hasil penawaran umum.

Seperti diungkapkan dalam Catatan 40b atas laporan keuangan konsolidasian terlampir, Otoritas Jasa Keuangan ("OJK"), melalui surat tertanggal 2 Maret 2020, meminta klarifikasi tentang syarat dan ketentuan jatuh tempo dari PT Bintang Baja Hitam, dan mengharuskan PT Bliss Properti Indonesia Tbk untuk segera mentransfer sisa hasil penawaran umum ke instrumen keuangan yang aman dan likuid dan memastikan kepatuhan terhadap POJK No. 30/POJK. 04/2015 tentang Laporan Realisasi Penggunaan Dana Hasil Penawaran Umum.

c. Seperti diungkapkan dalam Catatan 21 atas laporan keuangan konsolidasian, PT Bliss Properti Indonesia Tbk dan entitas anaknya memiliki utang bank pokok beserta bunganya yang akan jatuh tempo pada tanggal 26 Mei 2020 masing-masing sebesar Rp 262.214.801.944 dan Rp 109.456.907.935, dan tercakup dalam rencana restrukturisasi utang bank PT Bliss Properti Indonesia Tbk dan entitas anaknya. Pada tanggal 20 Mei 2020, PT Bliss Properti Indonesia Tbk dan entitas anaknya menerima surat perpanjangan sementara fasilitas kredit PT Bank Sinarmas. Pada tanggal penyelesaian laporan keuangan konsolidasian, sedang dalam proses Penyertaan Modal Sementara.

d. Seperti diungkapkan dalam Catatan 40 pada laporan keuangan konsolidasian, ekonomi global menghadapi ancaman yang ditimbulkan oleh pandemi COVID-19, dan ekonomi Indonesia dipengaruhi penurunan pasar modal, peningkatan risiko kredit, gangguan operasi bisnis dan melemahnya nilai tukar rupiah. Dampak signifikan dalam ekonomi domestik semakin mempengaruhi operasi PT Bliss Properti Indonesia Tbk dan entitas anaknya. Laporan keuangan konsolidasian terlampir mencakup dampak kondisi ekonomi tersebut, sepanjang hal itu dapat ditentukan dan diperkirakan. Lama dan besarnya penurunan ekonomi bergantung pada penanganan virus baik respon secara lokal dan global yang efektif dan terkoordinasi terhadap krisis, yang berada di luar kendali PT Bliss Properti Indonesia Tbk dan entitas anaknya. Hal ini tidak mungkin untuk menentukan dampak masa depan dari kondisi ekonomi ini pada likuiditas dan pendapatan PT Bliss Properti Indonesia Tbk dan entitas anaknya .

~ KANAKA PURADIREDJA, SUHARTONO


Emphasis of matters (continued)

b. As disclosed in Note 35 to the accompanying consolidated financial statements, PT Bliss Properti Indonesia Tbk recognized due from PT Bintang Baja Hitam, related party, as of December 31, 201g amounting to Rp 31,254,381,216 (before allowance for impairment losses on due from related party) funded from the remaining proceeds of the public offering.

As disclosed in Note 40b to the accompanying consolidated financial statement, the Financial Services Authority ("OJK"), through its letter dated March 2, 2020, seeked clarification on the terms and condition of the receivable from PT Bintang Baja Hitam, and required PT Bliss Properti Indonesia Tbk to immediately transfer the remaining proceeds of the public offering to secured and liquid financial instrument in compliance with POJK No. 30/POJK.04/2015 regarding Realization Proceed Fund from Public Offering Report.

c. As disclosed in Note 21 in the consolidated financial statements, PT Bliss Properti Indonesia Tbk and its subsidiaries has principal bank debt along with its interest which will mature on May 26, 2020 amounting to Rp 262,214,801,944 and Rp 109,456,go7,935, respectively, and included in the bank debt restructuring plan of PT Bliss Properti Indonesia Tbk and its subsidiaries. As of May 20, 2020, PT Bliss Properti Indonesia Tbk and its subsidiaries received a letter of temporary extension of PT Bank Sinarmas's credit facility. As of the completion date of the consolidated financial statements, is in the process of Temporary Equity Participation.

d. As disclosed in Note 40 to the consolidated financial statement, the global economy is facing threats due to the COVID-19 pandemic, and Indonesian economy has already been affected characterized by decline in capital markets, increase in credit risk, disruption of business operation and weakening of rupiah exchange rate. Significant impact in domestic economy may affect the operation of PT Bliss Properti Indonesia Tbk and its subsidiaries. The accompanying consolidated financial statements include the effects of the economic conditions to the extent they can be determined and estimated. The economic downturn's length and depth depend on containing the virus and having an effective domestic and coordinated global response and cooperation to the crisis, which are beyond PT Bliss Properti Indonesia Tbk and its subsidiaries's control. It is not possible to determine the future effect the economic conditions may have on PT Bliss Properti Indonesia Tbk and its subsidiaries' liquidity and earnings.

Nexia KPS

Penekanan hal-hal (lanjutan)

Kondisi tersebut, bersama dengan hal-hal lain sebagaimana dijelaskan dalam Catatan 42, mengindikasikan adanya suatu ketidakpastian material yang dapat menyebabkan keraguan signifikan atas kemampuan PT Bliss Properti Indonesia Tbk dan entitas anaknya untuk mempertahankan kelangsungan usahanya. Rencana Manajemen untuk mengatasi kondisi tersebut juga telah diungkapkan dalam Catatan 42 atas laporan keuangan konsolidasian. Laporan keuangan konsolidasian tidak mencakup penyesuaian yang mungkin harus dilakukan yang berasal dari kondisi ketidakpastian tersebut. Opini kami tidak dimodifikasi sehubungan dengan hal tersebut.

Hal-hal lain

Audit kami atas laporan keuangan konsolidasian PT Bliss Properti Indonesia dan entitas anaknya tanggal31 Desember 2019, dan untuk tahun yang berakhir pada tanggal tersebut terlampir, dilaksanakan dengan tujuan untuk merumuskan suatu opini atas laporan keuangan konsolidasian tersebut secara keseluruhan. lnformasi tambahan dalam Lampiran atas informasi keuangan PT Bliss Properti Indonesia Tbk (Entitas Induk) tanggal 31 Desember 2019 dan untuk tahun yang berakhir pada tanggal tersebut, disajikan sebagai informasi tambahan terhadap laporan keuangan konsolidasian terlampir, disajikan untuk tujuan analisis tambahan dan bukan merupakan bagian dari laporan keuangan konsolidasian terlampir yang diharuskan menurut Standar Akuntasi Keuangan di Indonesia. Informasi tambahan tersebut telah menjadi objek prosedur audit yang diterapkan dalam audit atas laporan keuangan konsolidasian yang disajikan tersebut diatas berdasarkan Standar Audit yang ditetapkan oleh Institut Akuntan Publik Indonesia. Kami tidak menyatakan suatu opini atas informasi keuangan Entitas Induk, berkaitan dengan laporan keuangan konsolidasian tersebut diatas secara keseluruhan.



Emphasis of matters (continued)

These conditions, together with other matters as explained in Note 42, indicate a material uncertainty that may cast significant doubts about the ability of PT Bliss Properti Indonesia Tbk and its subsidiaries to continue as a going concern. Management's plan in regards these matters are also disclosed in Note 42 to the consolidated financial statements. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our opinion is not modified in respect of these matters.

Other matters

Our audits of the accompanying consolidated financial statements of PT Bliss Properti Indonesia and its subsidiaries as of December 31, 2019, and for the year then ended, were performed for the purpose of forming an opinion on such consolidated financial statements taken as a whole. The accompanying supplementary information in Appendix regarding the financial information of PT Bliss Properti Indonesia Tbk (Parent Entity), as of December 31, 2019 and for the year then ended, is presented for the purpose of additional analysis and is not a required part of the accompanying consolidated financial statements under Indonesian Financial Accounting Standards. Such supplementary information has been subjected to the auditing procedures applied in the audit of the accompanying consolidated financial statements in accordance with auditing standards established by the Indonesian Institute of Certified Public Accountants. We do not express an opinion on the Parent Entity Financial Information in relation to the accompanying consolidated financial statements taken a whole.

Nexia KPS

Hal-hal lain (lanjutan)

Laporan keuangan konsolidasian PT Bliss Properti Indonesia dan entitas anaknya tanggal 31 Desember 2018 dan untuk tahun yang berakhir pada tanggal tersebut diaudit oleh auditor independen lain yang menyatakan opini tanpa modifikasian dengan paragraph penjelas atas laporan keuangan konsolidasian tersebut pada tanggal15 Juni 2019.



Other matters (continued)

The consolidated financial statements of PT Bliss Properti Indonesia and its subsidiaries as of December 31, 2018 and for the year then ended were audited by other independent auditor who expressed an unmodified opinion on those financial statements on June 15, 2019.

KANAKA PURADIREDJA, SUHARTONO

~cF~ ·~I'T~Pv

The original consolidated financial statements included herein

are in Indonesian language.

PT BLISS PROPERTI INDONESIA Tbk DAN ENTITAS ANAKNYA

LAPORAN POSISI KEUANGAN KONSOLIDASIAN

31 Desember 2019

(Dinyatakan dalam Rupiah, kecuali dinyatakan lain)

PT BLISS PROPERTI INDONESIA Tbk

AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

December 31, 2019

(Expressed in Rupiah, unless otherwise stated)

1

Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian

yang tidak terpisahkan dari laporan keuangan konsolidasian secara

keseluruhan.

The accompanying notes to the consolidated financial statements are an

integral part of these consolidated financial statements taken as a

whole.

Catatan/

Notes 2019 2018

ASET

ASSETS

ASET LANCAR CURRENT ASSETS

Kas dan setara kas 3g,3h,5,37,38 16.683.353.901 17.427.270.883 Cash and cash equivalents

Piutang usaha 3g,6,37,38 9.102.738.307 8.089.736.701 Trade receivables

Piutang lain-lain 3g,7,37,38 6.704.452.056 8.142.416.426 Other receivables

Persediaan 3j,3x,8 33.290.975 9.259.951 Inventories

Pajak dibayar di muka 3t,34a 30.208.152.844 32.028.984.090 Prepaid taxes

Beban dibayar di muka 3g,3k,41 1.311.300.345 733.713.706 Prepaid expenses

Uang muka 9 95.884.498.990 101.859.584 Advances Bank yang dibatasi penggunaannya 3g,3i,14,37,38 7.060.094.781 4.631.681.949 Rectricted cash in banks

Beban emisi saham ditangguhkan - 1.218.750.000 Deferred stock issuance cost

Total Aset Lancar 166.987.882.199 72.383.673.290 Total Current Assets

ASET TIDAK LANCAR NON-CURRENT ASSETS Piutang pihak berelasi 3e,3g,35,37,38 - 16.668.011.141 Due from related parties

Deposit 3e,3h 982.705.000 1.094.725.000 Deposits

Perlengkapan operasional hotel - neto 3l 123.422.511 69.073.451 Hotel operating equipment - net Properti investasi- neto 3n,11 870.113.997.025 871.434.562.990 Investments properties - net

Aset tetap - neto 3l,12 13.377.042.886 12.543.436.448 Fixed assets - net

Aset keuangan lainnya 37b,13,37,38 416.302.128 339.570.406 Other financial assets Aset pajak tangguhan 3t,34e - 368.951.323 Deferred tax asset

Total Aset Tidak Lancar 885.013.469.550 902.518.330.759 Total Non-current Assets

TOTAL ASET 1.052.001.351.749 974.902.004.049 TOTAL ASSETS





(lanjutan)

31 Desember 2019





(continued)

December 31, 2019


2


yang tidak terpisahkan dari laporan keuangan konsolidasian secara

keseluruhan.


integral part of these consolidated financial statements taken as a

whole.

Catatan/

Notes 2019 2018

LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS LIABILITIES

LIABILITAS JANGKA PENDEK CURRENT LIABILITIES

Utang bank jangka pendek 3g,15,37,38 - 19.980.000.000 Short-term bank loan Utang usaha - Trade payables -

pihak ketiga 3g,16,37,38 4.923.017.996 6.555.088.387 third parties

Utang lain-lain 3g,17,37,38 Other payables Pihak ketiga 750.219.093 447.083.685 Related parties

Pihak berelasi 3e,35 5.000.000 5.000.000 Third parties

Beban akrual 3g,18,37,38 130.049.464.241 16.990.021.662 Accrued expenses

Utang pajak 3t,34b 1.767.824.100 1.527.547.852 Taxes payables

Pendapatan diterima di muka 19 15.053.719.007 11.455.799.944 Unearned revenue

Bagian lancar atas liabilitas jangka

panjang:

Current maturities of long term

liabilities: Pinjaman bank 3g,21,37,38 292.614.801.944 33.600.000.000 Bank loans

Utang pembiayaan konsumen 3g,3m,22,37,38 - 130.708.393 Consumer finance payable

Total Liabilitas Jangka Pendek 445.164.046.381 90.691.249.923 Total Current Liabilities

LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES Liabilitas jangka panjang - setelah

dikurangi bagian jatuh tempo dalam

waktu 1 (satu) tahun mendatang:

Long term liabilities - net of current

maturities within 1 (one) year:

Pinjaman bank 3g,21,37,38 319.980.465.265 623.630.592.320 Bank loans Utang pembiayaan konsumen 3g,3m,22,37,38 - 106.270.140 Consumer finance payables

Beban akrual 3g,18,37,38 - 73.436.973.551 Accrued expenses

Pendapatan diterima di muka 19 9.528.406.809 9.637.129.387 Unearned revenue Uang jaminan 3g,20,37,38 14.164.616.931 14.185.906.627 Security deposits

Liabilitas imbalan kerja 3q,23 2.830.455.524 1.529.661.748 Employee benefits liability

Total Liabilitas Jangka Panjang 346.503.944.529 722.526.533.773 Total Non-current Liabilities

TOTAL LIABILITAS 791.667.990.910 813.217.783.696 TOTAL LIABILITIES





(lanjutan)

31 Desember 2019





(continued)

December 31, 2019


3

Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara

keseluruhan.

The accompanying notes to the consolidated financial statements are an integral part of these consolidated financial statements taken as a

whole.

Catatan/

Notes 2019 2018

EKUITAS EQUITY Modal saham -

Nilai nominal

Rp 100 per saham tahun 2019, dan

Rp 1.000.000 per saham Seri A dan

Rp 5.000.000 per saham Seri B tahun 2018

Share Capital -

Par value

Rp 100 per share in 2019, and

Rp 1,000,000 per share Series A and

Rp 5,000,000 per share Series B in 2018

Modal dasar - 15.000.000.000 saham

Seri A tahun 2019, dan 649.500 saham Seri A dan 100

saham Seri B tahun 2018

Authorized - 15,000,000,000 share

Series A in 2019, and 649,500 shares Series A and

100 shares Series B in 2018

Modal ditempatkan dan disetor penuh - 8.388.870.000 saham Seri A dan

5 lembar waran Seri I

tahun 2019, dan 298.887 saham Seri A dan

100 saham Seri B tahun 2018 24

838.887.000.500 298.887.000.000

Issued and fully paid -

8,388,870,000 shares Series A and 5

warrants Series I in 2019, and 298,887 shares Series A and

100 shares Series B in 2018

Uang muka setoran modal 26 - 371.648.088.323 Advance for capital stock subscription Tambahan modal disetor 3w,25 78.150.246.946 (2.984.351.652) Additional paid in capital

Penghasilan komprehensif lain (465.339.509) (537.558.242) Other comprehensive income

Defisit (655.683.957.828) (506.395.875.261) Deficit

Total ekuitas yang dapat

diatribusikan kepada pemilik

entitas induk

260.887.950.109 160.617.303.168

Total equity attributable to the owners

of the parent entity Kepentingan nonpengendali 27 (554.589.270) 1.066.917.185 Non-controlling Interests

TOTAL EKUITAS 260.333.360.839 161.684.220.353 TOTAL EQUITY

TOTAL LIABILITAS DAN

EKUITAS

1.052.001.351.749 974.902.004.049

TOTAL LIABILITIES AND

EQUITY




DAN ENTITAS ANAKNYA

LAPORAN LABA RUGI DAN PENGHASILAN

KOMPREHENSIF LAIN KONSOLIDASIAN

Untuk Tahun yang Berakhir Tanggal 31 Desember 2019




CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND

OTHER COMPREHENSIVE INCOME

For the Year Ended December 31, 2019


4

Catatan

/Notes

2019 2018

Pendapatan usaha 3s,28 73.785.894.974 70.713.626.491 Sales

Beban pokok pendapatan 3s,29 (56.273.494.971) (51.305.743.163) Costs of revenues

LABA BRUTO 17.512.400.003 19.407.883.328 GROSS PROFIT

Beban penjualan 3s,31 (686.857.285) (1.005.757.425) Selling expense

Beban umum dan administrasi 3s,31

(24.077.244.078)

(20.663.979.463)

General and administrative

expenses

Penurunan nilai aset 3n,11 - (286.766.369.956) Impairment of asset

Penurunan nilai uang muka 9 (21.145.132.992) - Impaiment of value in advances

Penurunan nilai piutang

pihak berelasi 3e,3g,35

(31.254.381.216)

-

Impaiment of due from

related parties

Beban pajak final 3t,34c (10.619.603.638) (5.313.597.852) Final tax expense

Pendapatan (beban) lainnya - neto 3s,30 (195.158.878) 1.437.149.364 Other income (expenses) - net

RUGI USAHA (70.465.978.084) (292.904.672.004) OPERATING LOSS

Biaya keuangan 33 (80.056.866.106) (59.997.114.521) Finance cost

RUGI SEBELUM PAJAK

PENGHASILAN

(150.522.844.190)

(352.901.786.525)

LOSS BEFORE

INCOME TAX

BEBAN PAJAK PENGHASILAN

- NETO 3t,34d

(411.556.660)

(305.966.891)

INCOME TAX EXPENSE

- NET

RUGI NETO TAHUN BERJALAN (150.934.400.850) (353.207.753.416) NET LOSS FOR THE YEAR

PENGHASILAN

KOMPREHENSIF LAIN

OTHER COMPREHENSIVE

INCOME

Pos yang tidak akan direklasifikasi

ke laba rugi dalam periode berikutnya

Other comprehensive income

will not be reclassified to profit

or loss in subsequent periods

Pengukuran kembali program

imbalan pasti 3q,23

213.255.711

315.410.003

Remeasurement on defined benefit

program

TOTAL RUGI KOMPREHENSIF

TAHUN BERJALAN

(150.721.145.139)

(352.892.343.413)

TOTAL COMPREHENSIVE

LOSS FOR THE YEAR

Rugi tahun berjalan yang dapat

diatribusikan kepada:

Net loss for the year

attributable to:

Pemilik entitas induk (149.288.082.567) (351.740.014.248) Owner of the Entity

Kepentingan non-pengendali (1.646.318.283) (1.467.739.168) Non-controlling interest

Total (150.934.400.850) (353.207.753.416) Total


yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.


integral part of these consolidated financial statements taken as a whole.




DAN ENTITAS ANAKNYA

LAPORAN LABA RUGI DAN PENGHASILAN

KOMPREHENSIF LAIN KONSOLIDASIAN (lanjutan)





CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND

OTHER COMPREHENSIVE INCOME (continued)



5

Catatan

/Notes

2019 2018

Total rugi komprehensif tahun

berjalan yang dapat diatribusikan

kepada:

Total comprehensive loss

for the year attributable to:

Pemilik entitas induk (149.074.828.044) (351.424.745.220) Owner of the Entity

Kepentingan non-pengendali (1.646.317.095) (1.467.598.193) Non-controlling interest

Total (150.721.145.139) (352.892.343.413) Total

LABA PER SAHAM 3v,32 EARNINGS PER SHARE Dasar (20) (1.182.447) Basic

Dilusian (21) (1.182.447) Diluted


keseluruhan.


whole.




DAN ENTITAS ANAKNYA

LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN





CONSOLIDATED STATEMENT OF CHANGES IN EQUITY



6

Ekuitas yang dapat diatribusikan kepada pemilik Perusahaan /

Equity attributable to the owners of the Parent Company

Modal Saham /

Share Capital

Uang Muka

Setoran Modal /

Advance for Capital

Stock Subscriptions

Tambahan Modal

Disetor /

Additional

Paid-in Capital

Penghasilan

Komprehensif Lain

/ Other

Comprehensive

Income

Defisit /

Deficit

Total /

Total

Kepentingan

Nonpengendali/

Non-controlling

Interests

Total Ekuitas

/

Total Equity

Saldo per

1 Januari 2018 297.287.000.000 1.600.000.000

(3.017.351.652) (852.968.245) (154.655.861.013) 140.360.819.090 13.467.994.608 153.828.813.698

Balance as of

January 1, 2018

Pelepasan entitas anak - - - - - - (10.933.338.255 ) (10.933.338.255 ) Disposal of subsidiary

Penerbitan modal

saham (Catatan 24) 1.600.000.000 (1.600.000.000) - - - - - -

Issuance of

share capital (Note 24)

Uang muka setoran

modal saham

(Catatan 26) - 371.648.088.323 - - - 371.648.088.323 - 371.648.088.323

Advance for

capital stock

subscription

(Note 26)

Waran (Catatan 25) 33.000.000 33.000.000 33.000.000 Warrant (Note 25)

Total rugi komprehensif

periode berjalan - - - 315.410.003 (351.740.014.248 ) (351.424.604.245) (1.467.739.168 ) (352.892.343.413)

Total comprehensive loss

for the year

Saldo per

31 Desember 2018 298.887.000.000 371.648.088.323 (2.984.351.652) (537.558.242) (506.395.875.261) 160.617.303.168 1.066.917.185 161.684.220.353

Balance as of

December 31, 2018

Penerimaan dari

penawaran umum

saham perdana

setelah dikurangi

biaya emisi saham

(Catatm 25) 170.000.000.000 - 79.486.510.000 - - 249.486.510.000 249.486.510.000

Proceeds from

initial public offering

of shares (Note 25)

Pelepasan entitas anak - - - (141.036.978) - (141.036.978) 2.811.828 (138.225.150) Disposal of subsidiary

Setoran modal saham

(Catatan 24) 370.000.000.000 (371.648.088.323) 1.648.088.323 - - - 22.000.000 22.000.000

Additional paid in

capital (Note 24)

Waran (Catatan 24) 500 - 275 - - 775 - 775 Warrant (Note 24)

Total rugi komprehensif

periode berjalan - - - 213.255.711 (149.288.082.567) (149.074.826.856) (1.646.318.283) (150.721.145.139)

Total comprehensive

loss for the year

Saldo per

31 Desember 2019 838.887.000.500

-

78.150.246.946

(465.339.509)

(655.683.957.828)

260.887.950.109 (554.589.270)

260.333.360.839

Balance as of

December 31, 2019

Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak

terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.

The accompanying notes to the consolidated financial statements are an integral part of these

consolidated financial statements taken as a whole.




DAN ENTITAS ANAKNYA

LAPORAN PERUBAHAN ARUS KAS

KONSOLIDASIAN





CONSOLIDATED STATEMENT OF CASH FLOWS



7

Catatan

/Notes

2019

2018

ARUS KAS DARI

AKTIVITAS OPERASI

CASH FLOWS FROM

OPERATING ACTIVITIES

Penerimaan kas dari pelanggan 76.262.089.853 67.757.301.828 Receipts from customers

Pembayaran kas kepada pemasok (155.362.913.278) (41.770.110.220) Payments to suppliers

Pembayaran kepada karyawan (11.042.516.295) (7.933.540.050) Payments to employees

Kas yang dihasilkan dari operasi (90.143.339.720) 18.053.651.558 Cash receipts from operating activities

Penerimaan bunga 434.580.432 196.141.016 Receipts from interest

Pembayaran pajak (10.876.549.743) (5.561.512.272) Payments of taxes

Pembayaran biaya keuangan (62.952.222.072) (29.728.297.936) Finance costs payment

Arus Kas Bersih Digunakan untuk

Aktivitas Operasi

(163.537.531.103)

(17.040.017.634)

Net Cash Flows

Used in Operating Activities

ARUS KAS DARI

AKTIVITAS INVESTASI

CASH FLOWS FROM

INVESTING ACTIVITIES

Penerimaan piutang pihak berelasi

-

3.258.755.169 Proceeds from due from

related parties

Penurunan (kenaikan) piutang

pihak berelasi

(14.586.370.075)

- Decreased (increased) of

due from related parties

Pembelian properti investasi 3n,11 (3.238.043.812) (57.375.208.107) Acquisition of investment properties

Pembelian aset tetap 3l,12 (2.932.516.291) (1.471.858.026) Acquisitions of fixed assets

Penempatan (penarikan) bank yang

dibatasi penggunaannya 14

(2.428.412.832)

975.370.345 Placement (withdrawal)

from resctricted cash in bank

Hasil penjualan aset tetap 3l,12 104.000.000 40.002.079 Proceeds from sale of fixed assets

Hasil penjualan saham entitas anak

dikurangi kas yang dikeluarkan

-

13.148.541.365 Proceeds from sale of shares of

subsidiaries less cash disbursed

Pembayaran utang usaha dan utang

lain -lain atas perolehan properti

investasi

-

(74.932.621.485)

Payment of trade and

other payables for acquisition of

investment properties

Hasil penjualan properti investasi 11

- 300.000.000 Proceeds from sale of

investment properties

Arus Kas Bersih Digunakan untuk

Aktivitas Investasi

(23.081.343.010)

(116.057.018.660)

Net Cash Flows Used to

Operating Activities

ARUS KAS DARI

AKTIVITAS PENDANAAN

CASH FLOWS FROM

FINANCING ACTIVITIES

Hasil dari penawaran umum perdana

saham

255.000.000.000

- Proceeds from the initial public

offering of shares

Setoran modal kepentingan

nonpengendali

22.000.000

- Additional paid in capital from

non-controlling interest

Pembayaran pinjaman bank jangka

panjang 21

(44.635.325.111)

(15.560.594.867) Payments of long-term

bank loan

Pembayaran pinjaman bank jangka

pendek

(19.980.000.000)

- Payments of short-term

bank loan

Penerimaan waran 775 33.000.000 Proceeds from warrant

Pembayaran emisi saham 25 (4.294.740.000) (1.218.750.000) Payment of stock issuance cost

Pembayaran utang sewa pembiayaan 3m,22 (236.978.533) (114.377.975) Payment of consumer finance payables

Penerimaan pinjaman bank 21 - 67.510.533.615 Increase in bank loan

Penerimaan setoran

modal saham

-

371.648.088.323 Proceeds from capital

stock subscriptions

Pembayaran utang lain-lain kepada

pihak ketiga jangka panjang

-

(289.636.615.299) Payment of long-term

other trade payable to third party

Arus Kas Bersih dari

Aktivitas Pendanaan

185.874.957.131

132.661.283.797

Net Cash Flows Provided by Financing

Activities


keseluruhan.


whole.




DAN ENTITAS ANAKNYA

LAPORAN PERUBAHAN ARUS KAS

KONSOLIDASIAN





CONSOLIDATED STATEMENT OF CASH FLOWS



8

Catatan

/Notes

2019

2018

Penurunan Bersih Kas dan

Setara Kas

(743.916.982)

(435.752.497)

Net Decrease in

Cash and Cash Equivalents

Kas dan Setara Kas

pada Awal Tahun 3h,5

17.427.270.883

17.863.023.380


Beginning of the Year

Kas dan Setara Kas

pada Akhir Tahun 3h,5

16.683.353.901

17.427.270.883


End of the Year

Lihat Catatan 41 atas laporan keuangan konsolidasian untuk informasi

tambahan arus kas.

See Note 41 to the consolidated financial statements for the

supplementary cash flows information.


yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.


integral part of these consolidated financial statements taken as a whole.




DAN ENTITAS ANAKNYA

CATATAN ATAS LAPORAN KEUANGAN

KONSOLIDASIAN

Pada dan Untuk Tahun yang Berakhir Tanggal

31 Desember 2019




NOTES TO THE CONSOLIDATED

FINANCIAL STATEMENTS

As of and For the Year Ended

December 31, 2019


9

1. UMUM 1. GENERAL

a. Pendirian Perusahaan a. The Company’s Establishment

PT Bliss Properti Indonesia Tbk ("Perusahaan")

didirikan berdasarkan Akta No. 4 tanggal 14 Mei 2010

yang dibuat di hadapan Sri Eliana Tjahjoharto, S.H.,

notaris di Surabaya. Akta pendirian ini telah disahkan

oleh Menteri Hukum dan Hak Asasi Manusia Republik

Indonesia dengan Surat Keputusan No. AHU-

36930.AH.01.01 Tahun 2010 tanggal 26 Juli 2010 serta

diumumkan dalam Berita Negara Republik Indonesia

No. 67 tanggal 21 Agustus 2012. Anggaran Dasar

Perusahaan telah mengalami beberapa kali perubahan,

terakhir dengan Akta Notaris No. 11 tanggal 20 Mei

2019, dari Dr. Yurisa Martanti, S.H., M.H., notaris di

Jakarta mengenai perubahan peningkatan modal

ditempatkan dan disetor. Akta perubahan ini telah

dilaporkan ke Menteri Hukum dan Hak Asasi Manusia

Republik Indonesia dengan Surat Keputusan No. AHU-

AH.01.03-0287512 Tahun 2019 tanggal 18 Juni 2019.

PT Bliss Properti Indonesia Tbk (the “Company") was

established based on Deed No. 4 dated May 14, 2010 of

Sri Eliana Tjahjoharto, S.H., notary in Surabaya. The

deed of establishment was approved by the Minister of

Law and Human Rights of the Republic of Indonesia

through its Decision Letter No. AHU-

36930.AH.01.01.Tahun 2010 dated July 26, 2010 and

was published in State Gazette No. 67 dated

August 21, 2012. The Company’s Articles of Association

have been amended several times, most recently by

Notarial Deed No. 11 dated May 20, 2019 of

Dr. Yurisa Martanti, S.H., M.H., notary in Jakarta,

concerning the increase in issued and paid-up capital.

This amendment has been reported to the Minister of Law

and Human Rights of the Republic of Indonesia through

Decision Letter No. AHU-AH.01.03-0287512 Year 2019

dated June 18, 2019.

Sesuai dengan pasal 3 dari Anggaran Dasar Perusahaan,

maksud dan tujuan Perusahaan adalah berusaha dalam

bidang real estat yang dimiliki sendiri atau disewa.

Perusahaan mulai beroperasi pada bulan Februari 2012.

In accordance with article 3 of the Company's Articles of

Association, the purpose and objective of the Company is

to engage in real estate solely owned or rented. The

Company started its commercial operations in February

2012.

Perusahaan tergabung dalam kelompok usaha Grup Posa.

Entitas Induk Perusahaan dan entitas anaknya adalah

PT Bintang Baja Hitam (selanjutnya secara bersama-

sama disebut sebagai "Kelompok Usaha") dan Benny

Tjokrosaputro sebagai ultimate shareholder. Perusahaan

berdomisili di Millennium Centennial Center Lantai 1,

Jalan Jend. Sudirman Kav. 25, Karet-Setiabudi, Jakarta

Selatan dan properti entitas anak terletak di Ponorogo,

Tanjung Pinang, Lombok dan Jambi.

The Company belongs to Posa Group. The Company's

parent entity and its subsidiaries is PT Bintang Baja

Hitam (hereinafter collectively referred to as the

"Group") and Benny Tjokrosaputro is the ultimate

shareholder. The Company is domiciled at Millennium

Centennial Center Lantai 1, Jalan Jend. Sudirman Kav.

25, Karet-Setiabudi, South Jakarta and its subsidiaries’

properties are located in Ponorogo, Tanjung Pinang,

Lombok and Jambi.

b. Dewan Komisaris, Direksi, Komite Audit dan Karyawan

b. Board of Commissioners, Directors, Audit Committee and Employees

Pada tanggal 31 Desember 2019 dan 2018, susunan

Dewan Komisaris, Direksi dan Komite Audit adalah

sebagai berikut:

As of December 31, 2019 and, 2018, the members of

Board of Commissioners, Directors and Audit Committee

are as follows:

2019 2018

Dewan Komisaris Board of Commissioners

Komisaris Utama : Henry Purwantoro - : President Commissioner

Komisaris : Basuki Widjaja Basuki Widjaja : Commissioner

Komisaris Independen : Hendrik Hartono - : Independent Commissioner

Direksi Directors

Direktur Utama :

Gracianus Johardy

Lambert

-

: President Director

Direktur : Astried Damayanti*) Astried Damayanti : Director

Komite Audit Audit Committee

Ketua : Hendrik Hartono - : Chairman

Anggota : Cynthia Monica - : Members

: Fani Wijaya - : *) diberhentikan pada bulan Mei 2020 / Dismissed in May 2020




DAN ENTITAS ANAKNYA


KONSOLIDASIAN


31 Desember 2019







December 31, 2019


10

1. UMUM (lanjutan) 1. GENERAL (continued)

b. Dewan Komisaris, Direksi, Komite Audit dan Karyawan (lanjutan)

b. Board of Commissioners, Directors, Audit Committee and Employees (continued)

Personel manajemen kunci Perusahaan meliputi seluruh

anggota Dewan Komisaris dan Direksi (namun tidak

termasuk Komisaris Independen). Manajemen kunci

tersebut memiliki kewenangan dan tanggung jawab

untuk merencanakan, memimpin, dan mengendalikan

aktivitas Perusahaan.

Jumlah karyawan Perusahaan masing-masing adalah 25

dan 21 orang karyawan tetap pada 31 Desember 2019

dan 2018 (tidak diaudit).

Boards of Commissioners and Directors are the

Company’s key management personnel (excluding

Independent Commissioner). The key management has

the authority and responsibility for planning, directing

and controlling the activities of the Company.

The Company has 25 and 21 permanent employees as of

December 31, 2019 and 2018, respectively (unaudited).

c. Penawaran Umum Efek Perusahaan c. The Company’s Public Offering

Pada tanggal 30 April 2019, Perusahaan memperoleh

Surat Pernyataan Efektif dari Ketua Bapepam-LK

melalui surat No. S-46/D.04/2019 tanggal 30 April 2019

atas Penawaran Umum Saham Perdana sebanyak-

banyaknya 1.700.000.000 saham dengan nilai nominal

Rp 100 per lembar saham yang ditawarkan dengan harga

penawaran sebesar Rp 150 per lembar saham dan Waran

Seri I sebanyak-banyaknya 2.295.000.000 dengan rasio

saham dibandingkan waran 100:135 yang akan diambil

dari saham dalam simpanan (portepel). Perusahaan

mencatatkan seluruh sahamnya pada Bursa Efek

Indonesia pada tanggal 10 Mei 2019.

On April 30, 2019, the Company obtained a notice of the

effectiveness from the Chairman of the Bapepam-LK in

his letter No. S-46/D.04/2019 dated April 30, 2019

concerning the Initial Public Offering for a maximum of

1.700.000.000 shares with nominal value of Rp 100 per

share which was offered at Rp 150 per share and Series

I Warrants for a maximum of 2,295,000,000 warrants

with ratio of shares compare to warrant 100: 135 which

will be taken from shares in deposits (portfolio). The

company listed its shares on the Indonesia Stock

Exchange on May 10, 2019.

Rencana penggunaan dana berdasarkan Prospektus

Penawaran Umum Perdana Saham PT Bliss Properti

Indonesia Tbk Tahun 2019 terdiri dari 79% untuk modal

kerja dan 21% untuk belanja modal penyelesaian Jambi

City Center dan renovasi Lombok City Center.

The planned use of funds based on the Prospectus of the

Initial Public Offering of PT Bliss Properti Indonesia

Tbk 2019 consists of 79% for working capital and 21%

for capital expenditure completion of the Jambi City

Center and the renovation of the Lombok City Center.

d. Struktur Entitas Anak Perusahaan d. Structure of the Company’s Subsidiaries

Pada tanggal 31 Desember 2019 dan 2018, entitas anak

Perusahaan langsung dan tidak langsung sebagai berikut:

As of December 31, 2019 and 2018, the Company’s

direct and indirect subsidiaries are as follow:

Entitas Anak/

Subsidiaries

Domisili/

Domicile

Jenis Usaha/

Nature of

Activities

Persentase

Kepemilikan

2019 dan 2018/

Percentage of

Ownership

2019 and 2018

Mulai

Beroperasi/

Commercial

Operations

Total Aset

sebelum Dieliminasi /

Total Assets

before Elimination

2019 2018

Kepemilikan langsung /

Direct ownership

PT Bliss Pembangunan

Sejahtera (BPS) Jakarta

Pusat perbelanjaan dan

fasilitas lainnya /

Shopping center and other

facilities

99,99% 2015 307.393.289.893 288.725.200.160

PT Tanjung Pinang Indah

(TPI) Jakarta Investasi / investment 99,99% 2016 212.550.482.865 149.630.883.758

PT ABC Bali Laut

(ABL) Jakarta Investasi / investment 99,99%

Pra-operasi /

Pre-operating 2.997.993.300 3.003.907.200

PT Lahan Makmur lndah

(LMI) Jakarta Investasi / investment 99,99% 2016 199.522.741.756 102.418.623.316

PT Pusat Bisnis

Ponorogo (PBP) Jakarta

Pusat perbelanjaan, hotel

dan fasilitas lainnya /

Shopping center,hotel and

other facilities

99,99% 2013 105.343.342.071 94.140.680.297

PT Merdeka Agung

Sempurna (MAS) Jakarta Investasi / investment 99,99% 2016 2.328.390.261 1.160.617.446




DAN ENTITAS ANAKNYA


KONSOLIDASIAN


31 Desember 2019







December 31, 2019


11


d. Struktur Entitas Anak Perusahaan (lanjutan) d. Structure of the Company’s Subsidiaries (continued)

Entitas Anak/

Subsidiaries

Domisili/

Domicile

Jenis Usaha/

Nature of

Activities

Persentase

Kepemilikan

2019 dan 2018/

Percentage of

Ownership

2019 and 2018

Mulai

Beroperasi/

Commercial

Operations

Total Aset

sebelum Dieliminasi /

Total Assets

before Elimination

2019 2018

Kepemilikan tidak

langsung / Indirect

ownership

PT Tanjung Pinang Sakti

(TPS) Jakarta


fasilitas lainnya / Shopping

center and other facilities

90,00% 2016 267.358.611.937 259.302.788.123

PT Utama Teguh Abadi

(UTA) Jakarta


fasilitas lainnya / Shopping

center and other facilities

99,99% Pra-operasi /

Pre-operating 241.521.195.058 175.623.528.211

PT BST Perlautan Bali

(BPB) Jakarta Properti / Property 99,99%

Pra-operasi /

Pre-operating 3.000.000.000 3.001.307.000

PT Berkat Perdana

Makmur (BPM) Jakarta Perdagangan / Trading 99,99% 2019 624.107.279 -

PT Sentosa Harum

Merdeka (SHM) Jakarta -

0.00% (2019) dan /

and 99,99% (2018) 2017 - 9.695.224.658

*) kehilangan pengendalian pada bulan Juli 2019 / Loss of control in July 2019

Pada tahun 2015, Perusahaan mendirikan entitas anak

LMI, LPM, SLE dan LSB. Pada tahun yang sama, LMI

mendirikan UTA, LPM mendirikan ALJ dan SLE

mendirikan BLE.

In 2015, the Company established subsidiaries LMI, LPM,

SLE, dan LSB. In same year, LMI established UTA, LPM

establlished ALJ and SLE established BLE.

Pada bulan November 2019, Perusahaan memiliki 999

saham (kepemilikan 99,99%) sebesar Rp 999.000.000

entitas anak MAS melalui pengalihan saham dari Ny.

Juniwati Marthen. Pada tahun 2019, MAS mendirikan

BPM.

In November 2019, the Company has 999 shares (99.99%

ownership) of MAS amounting to Rp 999,000,000 through

share transfer from Ny. Juniwati Marthen. In 2019, MAS

established BPM.

Perubahan Modal Saham Entitas Anak Changes in Share Capital of Subsidiaries

PT Bliss Pembangunan Sejahtera (BPS) PT Bliss Pembangunan Sejahtera (BPS)

Pada bulan Februari 2014, Perusahaan mengakuisisi

99,99% saham BPS dengan nilai perolehan sebesar

Rp 14.999.000.000 dengan rincian sebagai berikut:

In February 2014, the Company acquired 99.99%

ownership in BPS at cost amounting to

Rp 14,999,000,000 with details as follows:

1. 95% saham BPS yang dimiliki oleh PT Skylight Asia, pihak berelasi dan berada dibawah

pengendalian yang sama dengan Perusahaan pada

tahun 2014.

2. 4% saham BPS yang dimiliki oleh Marthen Tanihaha, pihak berelasi.

1. 95% shares of BPS owned by PT Skylight Asia, a related party, and an entity under common control

with the Company in 2014.

2. 4% shares of BPS owned by Marthen Tanihaha, a related party.

Nilai tercatat defisiensi modal BPS pada tanggal

akuisisi sebesar Rp 64.429.328. Selisih antara aset neto

yang diakuisisi berdasarkan nilai tercatat dengan biaya

perolehan sebesar Rp 64.429.328 dicatat sebagai selisih

transaksi restrukturisasi entitas sepengendali dalam

akun ekuitas yang dicatat sebagai bagian dari tambahan

modal disetor.

Capital deficiency of BPS at acquisition date amounted to

Rp 64,429,328. The difference between the carrying value

of acquired net assets and the acquisition cost of

Rp 64,429,328 is recorded in equity as difference in value

of restructuring transaction among entities under

common control as part of additional paid-in capital.




DAN ENTITAS ANAKNYA


KONSOLIDASIAN


31 Desember 2019







December 31, 2019


12

1. [UMUM (lanjutan) 1. GENERAL (continued)


Perubahan Modal Saham Entitas Anak (lanjutan) Changes in Share Capital of Subsidiaries (continued)

PT Pusat Bisnis Ponorogo (PBP) PT Pusat Bisnis Ponorogo (PBP)

Pada bulan Juni 2014, Perusahaan mengakuisisi

99,99% saham PBP dengan nilai perolehan sebesar

Rp 14.999.000.000 dengan rincian sebagai berikut:

In June 2014, the Company acquired 99.99% ownership

in PBP at cost amounting to Rp 14,999,000,000 through

the purchase of shares, with details as follows:

1. 95% saham PBP yang dimiliki oleh PT Skylight Asia, pihak berelasi dan berada dibawah

pengendalian yang sama dengan Perusahaan pada

tahun 2014.

2. 4% saham PBP yang dimiliki oleh Isabel Tanihaha, pihak berelasi.

1. 95% shares of PBP owned by PT Skylight Asia, a related party, and an entity under common control

with the Company in 2014

2. 4% shares of PBP owned by Isabel Tanihaha, a related party.

Nilai tercatat PBP pada tanggal akuisisi sebesar

Rp 9.904.730.553. Selisih antara aset neto yang

diakuisisi berdasarkan nilai tercatat dengan biaya

perolehan sebesar Rp 5.094.929.762 dicatat sebagai

selisih transaksi restrukturisasi entitas sepengendali

dalam akun ekuitas yang dicatat sebagai bagian dari

tambahan modal disetor

PBP’s carrying value on acquisition date amounted to

Rp 9,904,730,553. The difference between the carrying

value of the acquired net assets and the acquisition cost

of Rp 5,094,929,762 is recorded in equity as difference

in value of restructuring transaction among entities

under common control as part of additional paid-in

capital.

PT ABC Ambon Laut PT ABC Ambon Laut

Kepemilikan Perusahaan di PT ABC Ambon Laut

sebesar 99,99%, setara 9.999.999 lembar saham

dengan nilai Rp 100 per lembar saham.

The Company’s ownership interest in PT ABC Ambon

Laut represents 99.99%, equivalent to 9,999,999 shares

of stock with Rp 100 par value per share.

Berdasarkan Akta Penyataan Keputusan Para

Pemegang Saham No. 28 tanggal 8 Oktober 2018 oleh

Yunita, S.H., M. Kn., notaris di Bekasi, pemegang

saham Perusahaan menyetujui pengalihan saham

sebanyak 9.999.999 saham milik Perusahaan kepada

PT Dwisaka Harsya dengan nilai nominal setiap saham

sebesar Rp 100.

Based on the Notarial Deed No 28 dated October 8,

2018 by Yunita, S.H., M. Kn., notary in Bekasi, the

Company's shareholders approved transfer of

9,999,999 shares owned by the Company to

PT Dwisaka Harsya with par value of Rp 100 per share.

Berikut perhitungan keuntungan penjualan entitas

anak:

The calculation on gain on disposal of subsidiary

follows:

Harga jual 999.999.900 Selling price

Total nilai tercatat aset neto 507.616.419 Total carrying value of net assets

Keuntungan penjualan entitas anak

(Catatan 30)

492.383.481

Gain on disposal of subsidiary

(Note 30)

PT ABC Ambon Laut memberikan kontribusi negatif

kepada Perusahaan sampai dengan September 2018,

dan belum beroperasi oleh karena itu Perusahaan

memutuskan untuk melepas seluruh kepemilikannya.

PT ABC Ambon Laut gave a negative contribution to

the Company until September 2018, and has not yet

operated therefore the Company decided to dispose all

of its ownership.




DAN ENTITAS ANAKNYA


KONSOLIDASIAN


31 Desember 2019







December 31, 2019


13




PT ABC Sorong Laut PT ABC Sorong Laut

Kepemilikan Perusahaan di PT ABC Sorong Laut



The Company’s ownership interest in PT ABC Sorong

Laut represents 99.99%, equivalent to 9,999,999 shares

of stock with Rp 100 par value per share.


Pemegang Saham No. 111 tanggal 27 September 2018

oleh Yunita, S.H., M.Kn., notaris di Bekasi, pemegang




sebesar Rp 100.

Based on the notarial Deed No. 111 dated September

27, 2018 by Yunita, S.H., M.Kn., notary in Bekasi, the


9,999,999 shares owned by the Company to PT

Dwisaka Harsya with the nominal value of each share

of Rp 100.


anak:

The following calculation on gain on disposal of

subsidiary:

Total nilai tercatat aset neto (2.490.548.104) Total carrying value of net assets



(Catatan 30)

3.490.548.004


(Note 30)

PT ABC Sorong Laut memberikan kontribusi negatif



memutuskan untuk melepas seluruh kepemilikannya.:

PT ABC Sorong Laut gave a negative contribution to

the Company as of September 2018, and has not yet


of its ownership

PT Samudera Lahan Emas PT Samudera Lahan Emas

Kepemilikan Perusahaan di PT Samudera Lahan Emas



The Company’s ownership interest in PT Samudera

Lahan Emas represents 99.99%, equivalent to

9,999,999 shares of stock with Rp 100 par value per

share.

Berdasarkan Akta Pernyataan Keputusan Rapat Umum

Pemegang Saham Luar Biasa No. 157 tanggal

31 Desember 2018 oleh Yunita, S.H., M.Kn, notaris di

Bekasi, pemegang saham Perusahaan menyetujui

pengalihan saham sebanyak 9.999.999 saham milik

Perusahaan kepada PT Dwisaka Harsya dengan nilai

nominal setiap saham sebesar Rp 100.

Based on the Deed of Decision of the Extraordinary

General Meeting of Shareholders No. 157 dated

December 31, 2018 by Yunita, S.H., M.Kn, notary in

Bekasi, the Company's shareholders approved transfer

of 9,999,999 shares owned by the Company to

PT Dwisaka Harsya with the nominal value of each

share of Rp 100.


anak:


subsidiary:

Total nilai tercatat aset neto (1.013.135.775) Total carrying value of net asset



(Catatan 30)

2.013.135.675


(Note 30)

PT Samudera Lahan Emas memberikan kontribusi

negatif kepada Perusahaan sampai dengan Oktober

2018, dan belum beroperasi oleh karena itu Perusahaan


PT Samudera Lahan Emas gave a negative contribution

to the Company until October 2018, and has not yet


of its ownership.




DAN ENTITAS ANAKNYA


KONSOLIDASIAN


31 Desember 2019







December 31, 2019


14




PT BST Udara Segar PT BST Udara Segar

Kepemilikan Perusahaan di PT BST Udara

Segarsebesar 99,99%, setara 43.999.000 lembar saham


The Company’s ownership interest in PT BST Udara

Segar represents 99.99%, equivalent to 43,999,000

shares of stock with Rp 100 par value per share.

Berdasarkan Akta Pernyataan Keputusan Rapat

Umum Pemegang Saham Luar Biasa No. 81 tanggal

30 November 2018 oleh Yunita, S.H., M.Kn, notaris di

Bekasi, pemegang saham Perusahaan menyetujui

pengalihan saham sebanyak 43.999.000 saham milik

Perusahaan kepada PT Dwisaka Harsya dengan nilai

nominal setiap saham sebesar Rp 100.

Based on the Deed of Decision of the Extraordinary

General Meeting of Shareholders No. 81 dated

December 31, 2018 by Yunita, S.H., M.Kn, notary in




share of Rp 100.


anak:


subsidiary:

Harga jual 4.399.900.000 Selling price

Total nilai tercatat aset neto 4.224.320.270 Total carrying value of net assets


(Catatan 30)

175.579.730


(Note 30)

PT BST Udara Segar memberikan kontribusi negatif

kepada Perusahaan sampai dengan Oktober 2018, dan

belum beroperasi oleh karena itu Perusahaan


PT BST Udara Segar gave a negative contribution to

the Company until October 2018, and has not yet


of its ownership.

PT BS Merdeka Garnisium PT BS Merdeka Garnisium

Kepemilikan Perusahaan di PT BS Merdeka

Garnisium sebesar 80%, setara 8.000.000 lembar

saham dengan nilai Rp 100 per lembar saham.

The Company’s ownership interest in PT BS Merdeka

Garnisium represents 80%, equivalent to 8,000,000








sebesar Rp 100.

Based on the Notarial Deed No 163 dated

September 27, 2018 by Yunita, S.H., M.Kn., notary in


of 8.000.000 shares owned by the Company to


share of Rp 100.


anak:


subsidiary:




(Catatan 30)

136.328.083


(Note 30)

PT BS Merdeka Garnisium memberikan kontribusi

negatif kepada Perusahaan sampai dengan September



PT BS Merdeka Garnisium gave a negative

contribution to the Company until September 2018, and

has not yet operated therefore the Company decided to

dispose all of its ownership.




DAN ENTITAS ANAKNYA


KONSOLIDASIAN


31 Desember 2019







December 31, 2019


15




PT BST Pasir Putih Sejahtera PT BST Pasir Putih Sejahtera

Kepemilikan Perusahaan di PT BST Pasir Putih

Sejahtera sebesar 99,99%, setara 9.999.000 lembar


The Company’s ownership interest in PT BST Pasir

Putih Sejahtera represents 99.99%, equivalent to


share.







sebesar Rp 100.

Based on the Notarial Deed No. 173 dated





share of Rp 100.


anak:


subsidiary:




(Catatan 30)

11.200.000


(Note 30)

PT BST Pasir Putih Sejahtera memberikan kontribusi


2018, dan belum beroperasi oleh karena itu

Perusahaan memutuskan untuk melepas seluruh

kepemilikannya.

PT BST Pasir Putih Sejahtera gave a negative

contribution to the Company until September 2018, and



PT BST Tanah Bebas PT BST Tanah Bebas

Kepemilikan Perusahaan di PT BST Tanah Bebas



The Company’s ownership interest in PT BST Tanah

Bebas represents 99.99%, equivalent to 9,999,000







PT Dwisaka Harsya dengan nilai nominal setiap

saham sebesar Rp 100.






share of Rp 100.


anak:


subsidiary:




(Catatan 30)

12.588.000


(Note 30)

PT BST Tanah Bebas memberikan kontribusi negatif




PT BST Tanah Bebas gave a negative contribution to

the Company until September 2018, and has not yet


of its ownership.




DAN ENTITAS ANAKNYA


KONSOLIDASIAN


31 Desember 2019







December 31, 2019


16




PT BST Tanah Hijau Sejahtera PT BST Tanah Hijau Sejahtera

Kepemilikan Perusahaan di PT BST Tanah Hijau

Sejahtera sebesar 99,99%, setara 9.999.000 lembar


The Company’s ownership interest in PT BST Tanah

Hijau Sejahtera represents 99.99%, equivalent to


Share.







sebesar Rp 100.






share of Rp 100.


anak:


subsidiary:




(Catatan 30)

10.282.500


(Note 30)

PT BST Tanah Hijau Sejahtera memberikan kontribusi




PT BST Tanah Hijau Sejahtera gave a negative

contribution to the Company as of September 2018,

and has not yet operated therefore the Company

decided to dispose all of its ownership.

PT Lahan Perkasa Makmur PT Lahan Perkasa Makmur

Kepemilikan Perusahaan di PT Lahan Perkasa

Makmur sebesar 99,99%, setara 9.999.999 lembar


The Company’s ownership interest in PT Lahan

Perkasa Makmur represents 99.99%, equivalent to


share.

Berdasarkan Akta Penyataan Keputusan Para emegang

Saham No. 115 tanggal 27 September 2018 oleh

Yunita, S.H., M. Kn., notaris di Bekasi, pemegang




sebesar Rp 100.

Based on the Notarial Deed No. 115 dated September

27, 2018 by Yunita, S.H., M. Kn., notary in Bekasi, the


9,999,999 shares owned by the Company to


share of Rp 100.


anak:


subsidiary:




(Catatan 30)

23.990.524


(Note 30)

PT Lahan Perkasa Makmur memberikan kontribusi




PT Lahan Perkasa Makmur gave a negative

contribution to the Company as of September 2018, and






DAN ENTITAS ANAKNYA


KONSOLIDASIAN


31 Desember 2019







December 31, 2019


17




PT Lahan Subur Bahagia PT Lahan Subur Bahagia

Kepemilikan Perusahaan di PT Lahan Subur Bahagia



The Company’s ownership interest in PT Lahan Subur

Bahagia represents 99.99%, equivalent to 9,999,999








sebesar Rp 100.






share of Rp 100.


anak:


subsidiary:




(Catatan 30)

8.526.562


(Note 30)

PT Lahan Subur Bahagia memberikan kontribusi




PT Lahan Subur Bahagia gave a negative contribution

to the Company as of September 2018, and has not yet


of its ownership.

PT Sentosa Harum Merdeka (SHM) PT Sentosa Harum Merdeka (SHM)

Kepemilikan Perusahaan di PT Sentosa Harum

Merdeka sebesar 99,90%, setara 999 lembar saham

dengan nilai Rp 1.000.000 per lembar saham.

The Company’s ownership interest in PT Sentosa

Harum Merdeka represents 99.90%, equivalent to 999

shares of stock with Rp 1,000,000 par value per share.

Berdasarkan Rapat Umum Pemegang Saham Luar

Biasa tanggal 19 Juli 2019, pemegang saham

Perusahaan menyetujui pengalihan saham sebanyak

999 saham milik Perusahaan kepada Tuan Bayu Widia

Prakoso dengan nilai nominal setiap saham sebesar

Rp 1.000.000.

Based on the Extraordinary General Meeting dated

July 19, 2019, the Company's shareholders approved

transfer of 999 shares owned by the Company to Mr.

Bayu Widia Prakoso with the nominal value of each

share of Rp 1,000,000.


anak:


subsidiary:


Total tercatat aset neto (4.249.841.155) Total carrying value of net assets


(Catatan 30) 5.248.841.155

Gain disposal of subsidiary

(Note 30)

PT Sentosa Harum Merdeka memberikan kontribusi

negatif kepada Perusahaan sampai dengan Juli 2019,



PT Sentosa Harum Merdeka gave a negative

contribution to the Company as of July 2019, and has

not yet operated therefore the Company decided to





DAN ENTITAS ANAKNYA


KONSOLIDASIAN


31 Desember 2019







December 31, 2019


18




PT Sentosa Harum Merdeka (SHM) PT Sentosa Harum Merdeka (SHM)

Jumlah kas dan bank pada SHM pada tanggal

dekonsolidasi adalah sebesar Rp 1.380.921.177.

The amount of cash and banks in SHM at the date of

deconsolidation was Rp 1,380,921,177.

Ringkasan saldo SHM pada tanggal dekonsolidasi

adalah sebagai berikut:

Summary of SHM balances at the date of

deconsolidation were as follows:

19 Juli 2019/

July 19, 2019

ASET ASSETS

Total aset lancar 8.481.357.913 Total current asset

Total aset tidak lancar 2.232.743.966 Total non-current asset

TOTAL ASET 10.714.101.879

TOTAL ASSETS

LIABILITAS LIABILITIES

Total liabilitas jangka pendek 13.394.820.258 Total current liabilities

Total liabilitas jangka panjang 1.572.105.069 Total non-current liabilities

TOTAL LIABILITAS 14.966.925.327

TOTAL LIABILITIES

EKUITAS EQUITY

Modal saham 1.000.000.000 Share capital

Penghasilan komprehensif lain 140.913.840 Other comprehensive income

Defisit (5.393.737.288 ) Deficit

TOTAL DEFISIENSI MODAL (4.252.823.448 ) TOTAL CAPITAL DEFICIENCY

TOTAL EKUITAS DAN

LIABILITAS 10.714.101.879

TOTAL LIABILITIES AND EQUITY

BPI telah mengkonsolidasikan hasil operasi dari SHM

untuk periode tujuh bulan yang berakhir pada tanggal

19 Juli 2020 sebagai berikut:

BPI has consolidated the results of operations of SHM

for the seven-month period ended July 19, 2020 as

follows:

Periode yang

berakhir

pada tanggal/Period

Ended

19 Juli 2019/

July 19, 2019

Pendapatan usaha 13.073.004.640 Sales

Beban pokok pendapatan (6.452.495.172 ) Costs o

Documents

PT BLISS PROPERTI INDONESIA TBK AlAND ITS ......Suatu audit melibatkan pelaksanaan prosedur untuk memperoleh bukti audit tentang angka-angka dan pengungkapan dalam laporan keuangan