PT Danasupra Erapacific Tbk (DEFI) began operating in 1995, and is engaged in leasing, factoring and consumer financing. Company's operations are divided into three divisions, namely leasing (provides financial services in the procurement of capital goods such as facilities and equipment production), factoring (providing financing services, which will help employers to improve working capital) and consumer finance (providing financing services for consumer goods)

Company History

Company History

PT Danasupra Erapacific Tbk (Company) is a public-traded company listed on the Indonesia Stock Exchange (IDX), under the "DEFI" transaction code. Company was established in 1994, based on Deed of Notary Elliza, SH No. 65 dated November 11, 1994 and obtained its legal status from the Minister of Law, Republic Indonesia under Decree No. C2-1.101.HT.01.01 Th.95 dated January 25, 1995, published on the State Gazette of Republic Indonesia No. 15 dated February 25, 2000, Supplement No. 913.

As the Company is engaged in the financing, the Company's business activities include:

  • Leasing in the form of procurement of capital goods for the lessee, either with or without option rights over the goods;
  • Factoring is done with the form of the purchase or transfer of receivables / short-term bills of trade at home and abroad, and the administrator company for credit sales and collection of accounts receivable of the Company other;
  • Consumer Financing is done in the form of provision of funds for the purchase of consumer goods for which payment is made in installments or periodically by the consumer.

The Company has obtained its license as Multi-finance Company from the Minister of Finance under Decree No. 439/KMK.017/1995 dated September 14, 1995. The company started to commercially operated at 1995.

The Company at 2000 submitted a Statement of Stock Issuance Registration t to the Head the Capital Market Supervisory Agency (BAPEPAM) in relation to Initial Public Offering of 5,000,000 shares to the public with nominal value Rp 500 per share.

The pronouncement became effective based on the letter Chairman of the Capital Market Supervisory (BAPEPAM) No. S-768/AM/2000 on April 8, 2000.

The said Deed of Establishment amended as a result of Initial Public Offering of Shares to the public, base on Deed No. 12 dated 18 January 2000, made before Refizal, SH, notary in Jakarta and has attained approval from the Minister of Law, Republic of Indonesia through Decree No. C-1248.HT.01.04TH. 2000 dated February 3, 2000 and was also published on State Gazette of the Republic of Indonesia No. 99 dated December 12, 2000, Supplement No. 7586.

This change marks the Company's name change from PT. Danasupra Erapacific to PT. Danasupra Erapacific Tbk.

Offering and listing of shares on the stock exchange Surabaya done effectively by letter of the Chairman of Bapepam No. S-768/PM/2000 dated 18 April 2000.

Effective date of July 6, 2001, the Company's shares were listed on the Jakarta Stock Exchange (Indonesia Stock Exchange).

In connection with adjustments to the Limited Companies deed No. 40 of 2007, The Articles of Association where also modified, as per the statement of the Extraordinary General Meeting of Shareholders on June 19, 2008 through Deed No. 54 made before Marina Soewana, SH. Notary in Jakarta. This amendment was approved by Minister of law and Human Rights of the Republic of Indonesia through Decree No. AHU-33658.AH.01.02 of 2009 dated July 17, 2009 as announced in the State Gazette of the Republic of Indonesia, dated May 24, 2011 No. 41, Supplement No. 13600.

Vision and Mission

Vision and Mission

Corporate Vision

become the best multifinance company

 

Corporate Mission

to support increasing economic by providing fund for working capital, investment and consumer financing

Corporate Values

Corporate Values

Core values are the basic principles that underlie moral enterprise at work, patterned think, communicate and act, which must be adhered to, lived, performed and believed by all employees during working Danasupra Erapacific Tbk PT.

Core Values are:

  1. Honesty
  2. Partnership
  3. Justice
  4. Mutual Respect
  5. Maintain Corporate Reputation
Business Activity

Business Activity

Company’s Operation

In 2013 the national finance growth below 10%, it is off target Indonesian Financial Services Association (IFSA) which hopes to grow 10%.

When the year 2012 was a year of consolidation with a focus on efficiency, then in 2013 was the first step in the development of the Company, which are total finance company grew by 8.5%, due to the increase in consumer financing.

Factoring

Factoring is the purchase and financing in the form or the transfer and management of short-term bills receivable or an enterprise of transactions and foreign trade. This effort is intended to obtain alternative sources of financing outside the banking sector.

Most of the business activities of the company capital is used for factoring as of December 31st, 2013 is Rp. 17.456.250.000,- or 37.38% of the total asset.

According this activity is in the form of financing the purchase and or diversion and management of short-term bills receivable or a company from trading transactions, then factoring implement management selectively with respect to the type, size of production / proportion and source billing customer and business process analysis is concerned.

Leasing

The Company is not engaged to other financial business unit such as leasing.

Consumer Financing

According to the Indonesian Automotive Industry Association (Gaikindo) car sales in 2013 reached 1,229,903 units, above GAIKINDO’s sales target of 1.1 million units.

In 2013 the Company's performance on a particular consumer finance notably four wheeled vehicles increased significantly.

Consumer finance grew 186.5% from 2012, where in addition to financing four-wheeled vehicles, the company will also finance mortgage loans.

Business Performance Analysis

Assets

The Company recorded an increase in total assets was 3.68% in 2013, from Rp. 45.05 billion in 2012 to Rp. 46.70 billion in the year 2013. This increase is mainly due to the increase in the Consumer Finance receivables of Rp. 1.56 billion (168.49%) and an increase in post placement (investment) short-term Rp. 6.99 billion (44.66%) in the year 2013.

Liabilities

Total liabilities in 2013 decreased by 16.2% (U.S. $ 0.478 billion) compared to the position at the end of 2012 (U.S. $ 0.571 billion). The decrease was primarily due to a decrease of Rp. 0.220 billion (71.24%) in other payables.

Equity

Total equity of the company 10 2013 has increased by 3.93% due to an increase of Rp. 0.25 billion (16:13%) in retained earnings appropriated and increased Rp. 1.50 billion (16.07%) in the retained earnings inappropriate.

Revenues

Total revenue in 2013 decreased by 3.11% of the acquisition than in 2012, from Rp. 4.61 billion to Rp. 4.47 billion, which is caused by a decrease in other income by 11.71%.

However, the Company's consumer financing income (net) in 2013 increased by 495.97%.

Expenses

The company expenses decrease in 2013 to Rp. 2.32 billion compared to Rp. 2.74 billion in 2012, or a decline of 15.43%. The decrease is mainly due to a decrease in provisioning for impairment losses amounted to 97.06% from Rp. 0.73 billion to Rp. 0.02 billion. While salaries and employee benefits increased by 9.69%.

Income Before Tax Expense

The Company recorded income before tax expense of Rp. 2.15 billion in 2013, an increase of 14.92% compared to the position in 2012 of Rp. 1.87 billion.

Income For The Year

Income for the year for the company in the year 2012 increased by 14,45%, from Rp. 1,67 billion in 2012 to Rp. 1,92 billion in 2013.

Cash Flow

Net cash provided by operating activities decreased by Rp. 1.439 billion in 2013.

Net cash used for investing activities in 2013 was smaller than in 2012 from Rp. 0.25 billion to minus to Rp. 7 billion. It is used for short-term investments amounted to Rp. 7 billion.

Net cash provided by financing activities decreased minus Rp. 0168 billion in 2013. This decrease was due to the payment of cash dividends in 2013.

Capacity For Debt Servicing

The Company has the commitment to maintain its liquidity for its operational activities. As a financing company, liquidity is strongly determined in the availability of sufficient funds for any expansion being conducted.

The main source of funding the company is still in the form of equity capital. The Company has no bank debt.

Receivables Collectability Rate

As of 31 December 2013, the composition of consumer financing receivables (gross) are as follows:

  • Not past due: 91.67%.
  • Overdue 1-30 days: 8.33%.
  • No overdue above 30 days.

Company’s Strategy

In 2013, the Company implemented a new strategy which is a continuation of previous years. In 2012, the company's every move and policies based on the principles of efficiency. In 2013, the Company applies the principle of effectiveness and efficiency. The Company applies a very strict risk management in any action, which is intended to strengthen the foundation of sales and strong earnings growth in the future. The implementation of this new strategy will continue to ensure that the entire system will run more efficiently so as to provide more value for the consumer and the company.

Strengthening Organizational Structure

The Company will focus on strengthening the organizational structure, particularly in terms of marketing, lending and billing. Periodically the Company will make an assessment and measurement of targets and control mechanisms on all three of these areas, and also in other areas. The results will show how the focus of the Company's risk management is carried out.

Maintaining Good Relationships With All Business Partners

Trust and good relationships with all business partners who have been looked after better is one of the factors supporting the success of the Company. Therefore, the Company will strive to maintain that trust and continue to foster good relationships with all business partners, to the satisfaction of all parties.

Increasing Human Resources

Improving the quality of human resources (HR) is one of the key factors in the success of the Company. Therefore, the Company believes that investing to build quality human resources will greatly help meet the goals of the Company.

Improving Productivity and Effectiveness

In order to provide optimal results to all stakeholders, the Company is committed to continue doing effectively and increase productivity for optimal results. To achieve these objectives, every process and activity that takes place within the Company, will be encouraged to pay attention to three (3) main points namely effectiveness, optimal control, and always relies on consumer satisfaction.

Improve Infrastructure

Infrastructure is one of the important factors as well as support the company's success. Therefore, the company seeks to enhance the infrastructure and systems, among others, by increasing automation, reducing manual control, as well as update and improve the existing system.

Target

Based on the economic growth and industrial development financing and sales of motor vehicles, in 2014 the Company will seek to grow in the range of 10 percent.

Articles of Association

Articles of Association

The Articles of association define authority, duties and responsibilities, and determine the structural mechanism for appointing and dismissing members of the board of Directors and the board of commissioners. Statutes define the work relationship between the board of commissioners and the board of Directors as well, in line with the limited liability company law number 40/2007 and capital market law number 8/1995, according to BAPEPAM-LK and related PPATK.

Shareholders

Shareholders

Details of the Company's shareholders as of December 31, 2013 as follows:

Organizational Structure

Corporate Organization Structure

Board of Commissioners

Board of Commissioners

Board of Commissioners is a representative to all shareholders, who is responsible to supervise on the management, daily operations, but not limited the company alone, also the company`s business as a whole, as well as providing advice to the Board of Directors in relation to corporate management, ensuring the implementation of GCG in accordance to the guidelines and also annual report approval from the Board of Directors prior to publishing to the shareholders.

On performing their duties, the Board of Commissioners is assisted by the Audit Committee, who regularly reports to the board of commissioners regarding the company`s performance.

 

Eko Hartono

President Commissioner

Indonesian citizen, born in Jakarta in 1960. Eko Hartono received his Bachelor degree of English Teaching IKIP Rawamangun Jakarta (1984), Master of Educational Management from Simon Fraser University Vancouver Kanada (1987), He took Educational Technology (doctoral programme) from IKIP Rawamangun Jakarta (1988), and achieved Master of Human Resource Management of IBM Jayakarta, Jakarta (1994. Eko worked for The Indonesia Open University. Last position is as Vice Director of Warehouse and Distribution Division (1984 – 1994). As HR and GA Manager of PT. Cikarang Listrindo (1994 – 1996), as HR and GA Manager of PT. Sony Indonesia (1996), as Human Resource Director of Borobudur Inter-Continental Hotel, Jakarta (1997 – 2000), as Vice President of PT. Yokogawa Indonesia (Japanese Multinational Company, 2001 – 2004), as Director of PT. Anugerah Buana Raya (2005 – 2007), as Director di PT. Delta Mandiri Sentosa (2007 – 2009), and has been Head of Strategic Partnership of PT. Kresna Graha Securindo Tbk (2009 – now).

 

Yugi Prayanto

Independent Commissioner


Indonesian citizen born in Palembang in 1967. Graduated from University Houston, Texas (Bachelor of Science Business & Commerce) in 1988, studied at the Massachusetts Institute of Technology (MIT) Sloan of Management, "Management Program" Cambridge, of Massachusetts, 2011. Following the National Security Agency (Defense) National Resilience Institute of the Republic of Indonesia and the Executive Program at the Tsinghua University School of Management, Beijing, China in 2012. Served as Vice President of PT. Equity Development Securities - Stock Brokers, Fund Manager and Underwriter (1999 - 2001), Director of Marketing at PT. Insurance Dayin Mitra Tbk (2001 - 2005), Vice Chairman of PT. Dayin Insurance Partners Ltd (2005 - present), as President Director of PT. Sinar Mitra Karsa (2005 - present), Vice Chairman PT. Indonesia Prima Property (June 2010 - present) and as an Advisor at PT. Bukit Baiduri Energy (Mahakam Coal Mining) (2012 - present).

Board of Directors

Board of Directors

Board of Directors is the company`s main organ that holds ultimate executive authority. The board of Directors are under the supervision of the board of commissioners, whose job is responsible for performing and controlling the daily operations of the company, in accordance with the mandate of company`s Articles of Association and Decision on general meeting of shareholders. In performing its duties, the board of Directors should uphold the principles of corporate GCG.

 

Odang Muchtar

President Director

Indonesian citizen born in Ketapang in 1945. Graduated High School of Public Administration (LAN) Jakarta in 1975. Starting his career as Chief Representative DJS at Tanjung Priok (1972 -1977), the Young Director of Perum Astek up to year (1977 -1994). Up to 1999 served as the Social Security Kakanwil East Java, Bali, NTB, NTT and East Timor.Tahun 2008 to 2011 as President Director of PT. Kresna Life Insurance.

 

Euodia Dewayanti

Director

An Indonesian citizen, Euodia was born in Semarang in 1964. She completed her bachelor of Food Scientist degree at Food Technology and Nutrition of Bogor Agricultural University at 1987. Had studied at Institut Bisnis Indonesia at 1989-1990 (PT. Indofood’s MDP Programme) and attended Capital Market Programme Course by Bina Insan Institute at 2000. Euodia started her carrier at PT. Indofood Interna Corporate (1987 – 1994), her last position as Manager of Food Flavor Scientist, as Finance Director at PT. Prima Cipta Graha Sentosa (1994 - 2005), as President Director of PT. Pentamuda Grahasarana (1999 - 2009), as a President Commissioner of PT. Prima Cipta Graha Sentosa (2005 - present), as a commissioner of PT. Prima Cipta Sarana Jaya (2010 - present).

 

Audit Committee

Audit Committee

The Audit Committee monitors audit plan efficiency and inspects internal audit reports, working specifically to tighten internal control in the Company. The Audit Committee also establishes a relationship with independent auditor to review business plans and to follow up on their meetings further, it provides brief reports in assessing the overall framework of the implementation of Good Corporate Governance standards.

In 2013 the Audit Committee was comprised of Yugi Prayanto (Independent Commissioner), Sandrawaty Tjachjadi (member) and Haryono (member). The principal duty of the Audit Committee is to support the Board of Commissioners in performing its oversight and monitoring function of the implementation of Company operations, through internal control systems.

Yugi Prayanto

Independent Commissioner


Indonesian citizen born in Palembang in 1967. Graduated from University Houston, Texas (Bachelor of Science Business & Commerce) in 1988, studied at the Massachusetts Institute of Technology (MIT) Sloan of Management, "Management Program" Cambridge, of Massachusetts, 2011. Following the National Security Agency (Defense) National Resilience Institute of the Republic of Indonesia and the Executive Program at the Tsinghua University School of Management, Beijing, China in 2012. Served as Vice President of PT. Equity Development Securities - Stock Brokers, Fund Manager and Underwriter (1999 - 2001), Director of Marketing at PT. Insurance Dayin Mitra Tbk (2001 - 2005), Vice Chairman of PT. Dayin Insurance Partners Ltd (2005 - present), as President Director of PT. Sinar Mitra Karsa (2005 - present), Vice Chairman PT. Indonesia Prima Property (June 2010 - present) and as an Advisor at PT. Bukit Baiduri Energy (Mahakam Coal Mining) (2012 - present).

Dian Sandrawaty Tjachjadi

Member

Indonesian citizen born in Banjar in 1949, graduated from Tarumanegara University Jakarta. As a Consultant Coordinator of KAP Drs. Johan, Malonda & Partners (1983 – 1989); Served as assistant manager of QA and internal audit, the purchasing department (1995 – 1998), warehouse coordinator (1998 – 2003), assistant manager and GA (2003 – 2006) at PT. Cikarang Listrindo.

Haryono

Member

Indonesian citizen, born in Jakarta in 1961, graduating Bachelor of Accounting STIE "YAI" Jakarta. Served as Accounting Supervisor at PT. Suhasjaya (1985 - 1987), as Accounting Manager at PT Beringin Sentosa (1987 - 1990), as the Division Head of Finance, Accounting and Investment in PT. AJ Bumi Asih Jaya (1990 – 2012).

Corporate Secretary

In accordance with provision No.IX.I.4, Attachment of the Decree of Head of BAPEPAM-LK No.Kep-63/PM/1996, dated January 17, 1996 concerning the establishment of a Corporate Secretary, as per Decree No. 001/SK/DIR/VII/2010 dated July 14, 2010, the Company has appointed Euodia Dewajanti to serve as Corporate Secretary and to exercise in full her duties as set forth in the ruling mentioned above.

Euodia Dewayanti

Director

An Indonesian citizen, Euodia was born in Semarang in 1964. She completed her bachelor of Food Scientist degree at Food Technology and Nutrition of Bogor Agricultural University at 1987. Had studied at Institut Bisnis Indonesia at 1989-1990 (PT. Indofood’s MDP Programme) and attended Capital Market Programme Course by Bina Insan Institute at 2000. Euodia started her carrier at PT. Indofood Interna Corporate (1987 – 1994), her last position as Manager of Food Flavor Scientist, as Finance Director at PT. Prima Cipta Graha Sentosa (1994 - 2005), as President Director of PT. Pentamuda Grahasarana (1999 - 2009), as a President Commissioner of PT. Prima Cipta Graha Sentosa (2005 - present), as a commissioner of PT. Prima Cipta Sarana Jaya (2010 - present).

 

Internal Audit

Internal audit is a Division administered under the Directors and is able to communicate directly with the Board of commissioners in regard to matters related to company audit. The internal audit division is supervised by the Head of Internal Audit, who was appointed and later dismissed by the President Director through a recommendation of the Board of Commissioners. Duties and responsibilities of the internal audit division include: to ensure and assure that all corporate operational activities are running according to Company rules and regulations, Company policies and procedures as applied.

The Internal Audit Division is headed by Valens T. Kantawiria with basic designation Directors Decree No. 002/SK/DIR/VI/2013.

Valens T. Kantawiria

Division Head

He was Indonesian citizen, born in Bandung in 1964. He holds a MSc in Computer Engineering at Case Western Reserve University, Cleveland, Ohio USA in 1990. Experience working in a variety of national companies, such as General Manager IT at PT. Central Asian Life Insurance (CAR, 2004-2008).