BOC Report

Dear Shareholders and Stakeholders,

2022 was an amazing year for PT Jasamarga Transjawa Tol (JTT). Despite the challenges that we face until now and the uncertain global condition, nevertheless we managed to overcome global and national economy in 2022 to recover. The road was not easy, but our employees managed to be dedicated and innovated to overcome challenges, we also were able to achieve accomplishment.

PERFORMANCE ASSESSMENT OF THE BOARD OF DIRECTORS

This year achievements would not be obtained without careful planning and organised management by the board of directors. We manage to concur pandemic risk and managed to overcome the “new normal” and is committed to apply sustainability aspect well, thanks to the continuous work of the board directors.

In the third year of the pandemic, the company managed to survive infection risk and implement health protocol to decrease the impact of COVID-19 in our operation and employees. We also collaborate with other parties to accelerate vaccination program to accomplish vaccination target until 100% for our employees and their families. We also implement Standard Operational Procedure of COVID-19 with the same level of consciousness as in 2020. The implementation of standard operating procedures for Covid-19 in a disciplined manner at our company has resulted in a relatively low employee infection rate therefore we are able to continue our business operations productively.

As the result of the accomplishment, we appreciate board of directors’ strategic initiatives that has been taken to conquer the difficult conditions and take advantage of the opportunity in 2022 and in the future.

SUPERVISION OF CORPORATE STRATEGY IMPLEMENTATION BY THE BOARD OF COMMISSIONERS

As the Board of Commissioners, we direct, review, and evaluate the company’s strategic policy of PT Jasamarga Transjawa Tol (JTT). Supervision has been operated through Board of Commissioners and Directors.

In 2022, we direct and consistently give directions and advice to the Directors in the internal meeting of the Board of Commissioners by inviting board of directors to give explanation, recommendation or other crucial matter that needs approval from the Board of Commissioners. In order to have a better understanding of the company’s condition, Board of Commissioners made a regular visit to the company’s representative office (RO) and Toll Road subsidiaries (APJT).

In order to implement company’s strategies equivalent to the Company’s budget plan (RKAP) 2022 and Company’s long-term plan 2023-2027 that has been organised in accordance to the Good Corporate Governance (GCG), the Board of Commissioners made sure effective supervision is made to the Board of Directors.

GOOD CORPORATE GOVERNANCE

strong corporate governance ethos is the core of our business. We have Good Corporate Governance (GCG) Guideline as our reference to run our business activities. We also remain committed to implement Good Corporate Governance (GCG) that has impacted our achievements in sustainable performance through implementation of Good Corpoate Governance aligned with the company’s vision and mission.

In operational activities we have implemented the principles of Good Corporate Governance (GCG) as part of the Board of Commissioners and all of the staff duties and responsibilities. Therefore, our responsibilities are not only for the result but also to assist the whole process to achieve the expected results. Therefore, the overall implementation of the Company’s activities can run according to the strategic objectives.

Until 2022 the company implement the company’s Good Corporate Governance (GCG) integrated with the parent company. Nevertheless, we always committed to develop our Good Corporate Governance (GCG) so that in the future we are able to implement Good Corporate Governance in accordance with the applicable regulations.

PROSPECT ANALYSIS

Despite the uncertain economic condition and threat of global recession in 2023, Indonesian economy in 2023 is projected to reach 5,3% with inflation rate 3,6%. The government is also committed to implement policies, from fiscal, monetary, and real sector to maintain buying power and to ensure the ability of food supplies. It is conducted to maintain the inflation rate at low and stable level.

In this economic situation, we asses that the business prospects that has been prepared by the Board of Directors will be executed well. We also examined the business prospect to facilitate PT Jasamarga Transjawa Tol (PT JTT) growth to maximize every potential and opportunity.

Our experience facing challenges throughout the three years of pandemic has become a valuable lesson. We hope that this effort will continue to provide benefits in the future years. We are also optimistic that the company will become the largest, trusted, sustainable and technology-based company. Nevertheless, we always remind the Board of Directors to be mindful in making decision and action to implement the corporate action referring to Good Corporate Governance (GCG).

CLOSING

Despite the ongoing COVID-19 pandemic, we have proven to overcome difficulties and able to take leap of step in achieving target guided by the company’s value. All the effort we have done has resulted in achievements. We hope that we can continue this success in the future and to focus on continuous commitments.

We appreciate all the company’s achievements that have enabled our company to grow and develop. We believe that our achievements are gained not only by the board of directors but also collaborative work from all of the stakeholders. Therefore, we would like to send our greatest gratitude to all the team members from management and employees, our business partners and toll road users, have continued to put their trust in our company during these difficult times. We also would like to thank our shareholders and stakeholders for their continuous support.