INVESTING IN GREEN ENERGY

In Q2 2020 Renewable Investment was worth of $69.9B

Every year, global energy demand continues to rise. Driven by emerging economies and developing nations, total worldwide energy usage is expected to grow by nearly 50% by 2050. At the same time, scientists warned about rising global temperature levels, caused by carbon dioxide and other greenhouse gases.

With temperatures rising, many nations are seeking ways to replace fossil fuels with renewable sources of energy. This provides a market opportunity for investors looking to profit from green energy investments.

The investment flows determine where electricity comes from tomorrow. Increasingly, the money is flowing to renewable energy technologies. In 2019, the world financed $282 billion of renewable capacity.

By the end of 2020, according to BloombergNEF research, there should be more than 2,600 gigawatts of installed solar, wind, hydro and geothermal power. That’s 38% of the global total. Expect continued investment to drive that number to more than 55% by 2030 and 74% by 2050.

SHAREHOLDER INFORMATION

Committed to creating value for all its shareholders. Use this section to find information about the shareholder distribution of PT Arkora Hydro Tbk.

2022

2021

FINANCIAL HIGHLIGHT

 

2021

Dec

 2020

      Dec     

 2019

      Dec    

2018

     Dec     

REVENUES 198.393 52.094 145.119 171.393
COST OF REVENUES (89.276) (22.944) (95.435) (100.068)
GROSS PROFIT 109.117 29.150 49.684 71.325
OPERATING EXPENSES (33.646) (54.984) (37.270) (40.924)
PROFIT (LOSS) BEFORE TAX 75.471        (25.835)          12.414          30.401
TAX BENEFIT (EXPENSES)        (25.741)            2.873        (21.032)          (9.218)
NET PROFIT (LOSS) FOR THE PERIOD          49.730        (22.962)          (8.618)          21.183
OTHER COMPREHENSIVE INCOME NET OF TAX                  580            1.941                  89               712
TOTAL COMPREHENSIVE INCOME (LOSS) FOR THE PERIOD         50.311        (21.021)          (8.529)          21.895
NET INCOME (LOSS) FOR THE PERIOD          49.730        (22.962)            8.618          21.183

                                                                 (in million Rupiah)

 

 
ANNUAL REPORT

25 August 2022

Financial Report 2nd Quarter 2022

DOWNLOAD
Document Download
Financial Report 2021 31 December 2021 Download
Summary of the Minutes of Annual General Meeting of Shareholders 2022 23 September 2022 Download
General Meeting of Shareholders 2022's Code of Conduct 21 September 2022 Download
Annual Report 2021 PT Arkora Hydro Tbk 08 September 2022 Download

GOOD CORPORATE GOVERNANCE

Arkora Hydro is committed to maintaining high standards of corporate governance.

The Board recognizes that good governance is essential in assisting the business to manage its risk, deliver its strategy, generate shareholder value and safeguard shareholders' long term interests. The company is compliant with the provisions of the Good Corporate Governance according Financial Services Authority Regulation

Nomination and Remuneration Committee

A. Basis of Establisment

Based on the provisions of the Financial Services Authority Regulation No. 34/POJK.04/2014 concerning the Nomination and Remuneration Committee for Issuers or Public Companies (“POJK No. 34/2014”), issuers or public companies are required to have a Nomination and Remuneration function where in carrying out these functions the Board of Commissioners may establish a Nomination and Remuneration Committee. Remuneration; and the articles of association of the Company, members of the Nomination and Remuneration Committee are appointed by the Board of Commissioners.


B. Structure and Membership

The Company's Audit Committee for a term of 3 years from 04 March 2022 to 04 March 2025, with the following composition:
The Company's Nomination and Remuneration Committee for a term of office from 01 February 2022 to 01 February 2025, with the following composition:

Chairman : Drs. Indarto, S.H.
Members : 1. Arya Pradana Setiadharma
Members : 2. Abhay Narayan Pande


C. Committee Profile In 2022, the members of the Nomination and Remuneration Committee consist of:

  1. Drs. Indarto, S.H
    Became Independent Commissioner on March 4, 2022.
    Born September 30, 1950, he obtained his Bachelor of Laws degree from Bhayangkara University Surabaya in 1995
  2. Arya Pradana Setiadharma
    Born January 18, 1984, he obtained a Master's degree in Industrial Engineering from Purdue University in 2007. Since 2022 he has served as the Company's Nomination and Remuneration Committee.
  3. Abhay Narayan Pandhe
    Born September 10, 1967, he obtained his Master of Business Administration from the University of Chicago Business in 1993. Since 2022 he has served as the Company's Nomination and Remuneration Committee.


D. Duties and Responsibilities

In carrying out its functions, the Nomination and Remuneration Committee has the following duties and responsibilities:

Related to Nomination function

  1. Provide recommendations to the Board of Commissioners regarding:
    1. Composition of positions for members of the Board of Directors and/or members of the Board of Commissioners;
    2. Policies and criteria required in the Nomination process; and
    3. Performance evaluation policy for members of the Board of Directors and/or Board of Commissioners.
  2. Assist the Board of Commissioners in assessing the performance of members of the Board of Directors and/or Board of Commissioners based on the benchmarks that have been prepared as evaluation material.
  3. Provide recommendations to the Board of Commissioners regarding the capacity building program for members of the Board of Directors and/or Board of Commissioners.
  4. Prepare and provide recommendations regarding the system and procedure for the selection and/or replacement of members of the Board of Directors and/or Board of Commissioners to the Board of Commissioners.
  5. Provide proposals for candidates who meet the minimum requirements as determined by the Financial Services Authority as a member of the Board of Directors and/or Board of Commissioners to the Board of Commissioners to be submitted to the GMS.
  6. Provide recommendations on independent parties who will become members of the Audit Committee or other Committees to the Board of Commissioners.​​​​​​


Related to Remuneration function

  1. Evaluate the remuneration policy based on performance, risk, fairness with peer groups, the Company's long-term goals and strategies, fulfillment of reserves as regulated in laws and regulations and the Company's potential future income.
  2. Submit evaluation results and recommendations to the Board of Commissioners regarding:
    1. Remuneration Policy for the Board of Directors and the Board of Commissioners to be submitted to the GMS; and
    2. Remuneration Policy for employees as a whole to be submitted to the Board of Directors.
  3. Ensure that the Remuneration policy is in accordance with applicable regulations.
  4. Conduct regular evaluations of the implementation of the Remuneration policy.
  5. Provide recommendations to the Board of Commissioners regarding:
    1. Remuneration Structure;
    2. Policy on Remuneration; and
    3. Amount of Remuneration;
  6. Assisting the Board of Commissioners in assessing performance in accordance with the remuneration received by each member of the Board of Directors and/or member of the Board of Commissioners.


E. Authority and Obligations

In carrying out its duties and responsibilities, the Nomination and Remuneration Committee has the following powers and obligations:

  1. Obtain full, free and unrestricted access to information about employees, funds, assets and other Company resources related to the implementation of their duties;
  2. Must cooperate with the Directorate in charge of Human Resources and other units deemed necessary;
  3. Carry out tasks carefully and well;
  4. Prepare an annual activity plan approved by the Board of Commissioners;
  5. Prepare annual activity reports submitted to the Board of Commissioners;
  6. Coordinate with other Committees in accordance with applicable laws and regulations, to avoid overlapping tasks between the committees under the Board of Commissioners;
  7. Regarding fixed remuneration, formulating policies that at least pay attention to business scale, business complexity, peer group, inflation rate, financial conditions and capabilities, and do not conflict with the prevailing laws and regulations;
  8. Regarding variable remuneration, apart from taking into account number 7 above, the policies drawn up must also encourage Prudent Risk Taking.
  9. Perform other authorities and obligations assigned by the Board of Commissioners.

 

AUDIT COMMITTEE

The Audit Committee is a committee formed by the Board of Commissioners in carrying out its supervisory function on the performance of the Board of Directors and the Management Team in accordance with GCG principles. The establishment of the Audit Committee has complied with all OJK regulations.


A. Basis of Establishment

Based on the provisions of the Financial Services Authority Regulation No. 55/POJK.04/2015 concerning the Establishment and Guidelines for the Work Implementation of the Audit Committee (“POJK No. 55/2015”) and the Company's Articles of Association, members of the audit committee are appointed by the Board of Commissioners.


B. Structure and Membership

The Company's Audit Committee for a term of 3 years from 04 March 2022 to 04 March 2025, with the following composition:

Chairman : Drs. Indarto, S.H.
Members  : 1. Anindita Wijaya Putri
Members  : 2. Dwithya Putri Citrarhasmi SE., AK., CA.


C. Audit Committee Profile In 2022, the members of the Audit Committee consist of:

  1. Drs. Indarto, S.H
    Became Independent Commissioner on March 4, 2022.
    Born September 30, 1950, he obtained his Bachelor of Laws degree from Bhayangkara University Surabaya in 1995
  2. Anindita Wijaya Putri
    Obtained his Bachelor Degree in Accounting from Macquarie University, Australia in 2007. Since 2022 he has served as the Company's Audit Committee.
  3. Dwithya Putri Citrarhasmi SE., AK., CA.
    Obtained his Bachelor of Economics degree from the University of Indonesia in 2004. Since 2022 he has served as the Company's Audit Committee.
CORPORATE SECRETARY

In order to improve services to the investor community and comply with the provisions of the applicable laws and regulations, PT Arkora Hydro Tbk (hereinafter referred to as the "Company") needs to establish a Corporate Secretary function based on the Decree of the Board of Directors Number NO. 02/SK-DIR/AH/III/2022.

The Corporate Secretary has the following functions:

  1. Following the development of the capital market, especially the prevailing laws and regulations in the capital market sector;
  2. Provide input to the Board of Directors and Board of Commissioners of the Company to comply with the provisions of the laws and regulations in the capital market sector;
  3. Assist the Board of Directors and the Board of Commissioners in the implementation of corporate governance which includes:
    1. Information disclosure to the public, including the availability of information on the Company's website;
    2. Timely submission of reports to the Financial Services Authority;
    3. Organizing and documenting the General Meeting of Shareholders;
    4. Organizing and documenting meetings of the Board of Directors and/or Board of Commissioners; and
    5. Implementation of the company orientation program for the Board of Directors and/or the Board of Commissioners.
  4. As a liaison between the Company and the Company's shareholders, the Financial Services Authority and other stakeholders.
INTERNAL AUDIT

The Company's Internal Audit Unit was established based on the Decree of the Board of Directors Number 01/SK-DIR/II/2022 concerning the Establishment of the Internal Audit Unit of PT Arkora Hydro Tbk for a term of office from 04 March 2022 to 04 March 2025, chaired by:

Muhammad Iqbal

The Internal Audit Unit Charter is stipulated by the Board of Directors after obtaining approval from the Board of Commissioners, in which the Company's Board of Directors has obtained such approval as stated in the Decree of the Board of Commissioners of PT Arkora Hydro Tbk No. NO. 03/SK-KOM/AH/II/2022 concerning the Appointment and/or Establishment of the Internal Audit Unit and the Internal Audit Unit Charter, dated March 4, 2022.