GOOD CORPORATE GOVERNANCE SOCIALIZATION PT. PELITA SAMUDERA SHIPPING TBK

GOOD CORPORATE GOVERNANCE SOCIALIZATION

PT PELITA SAMUDERA SHIPPING TBK

The Company is committed to implementing good principles of Good Corporate Governance (GCG) in order to achieve the company’s vision and mission as an integrated and innovative logistics service provider. One practice of commitment to implementing good corporate governance practices, the Company has compiled and implemented GCG guidelines which are the crystallization of applicable laws and regulations.

The Company through the Corporate Secretary Division has held a socialization of several company policies namely Whistleblowing System, Gratification, Risk Management, Corporate Governance Policy, and Emergency Response Procedure or Incident Management Plan Procedure as one of the initiative to achieve company vision and mission.

The implementation of this activity provides an understanding of the established Policy Guidelines and encourages all employees to make decisions and carry out actions based on GCG principles, namely Transparency, Accountability, Responsibility, Independent, and Fairness.

 

The socialization of the development and implementation of GCG was carried out in all of the Company’s work areas followed by all employees which began in Banjarbaru on October 25, 2018, in Jakarta October 31, 2018 and Samarinda on November 15, 2018. The socialization objective is to increase business success and accountability in increasing company value in performance productivity and good corporate image.

Good Corporate Governance Socialization

The Invitation of Extraordinary General Meeting of Shareholders PT. Pelita Samudera Shipping Tbk

NOTICE

EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

PT PELITA SAMUDERA SHIPPING Tbk

Directors of PT Pelita Samudera Shipping Tbk (“Company”) hereby invite the shareholders to attend the Extraordinary General Meeting of Shareholders (“Meeting”) which will be held at:

Day/Date         : Wednesday, 5th December 2018

Time                 : 10.00 WIB until finish

Venue               : Financial Club Jakarta, Graha CIMB Niaga 27th Floor

Graha CIMB Niaga, Jalan Jendral Sudirman kav 58

Jakarta 12190

 

With the Meeting Agenda as follows:

  1. Approval for Facility of Bank such as short term loan, contingency loan and long term loan

Notes:

1. Those entitled to attend or be represented in the meeting are:

a. For Company shares that have not been included in the Collective Custody, only Shareholders whose names are registered in the Shareholders Register on Tuesday, August 28, 2018 until 16.00 WIB;

b. For Company’s shares in the Collective Custody, only account holders whose names are Registered in the Account Holder Register at the Indonesian Central Securities Depository (“KSEI”), Custodian Bank or Securities Company, on Tuesday, August 28, 2018 at 16.00 WIB.

2. For Shareholders whose shares are in Collective Custody intending to attend the Meeting, they are required to register through Exchange Members or Custodian Banks holding securities accounts with KSEI to obtain Written Confirmation for the Meeting (“KTUR”).

3. The Shareholders or their authorized proxies will attend the meeting kindly requested to bring and submit a photocopy of the Share Collective Letter and a copy of the Citizenship Identity Card (KTP) or other valid identification to the officers of the Company’s Securities Administration Bureau, before entering the Meeting room. Especially for the Company’s Shareholders in the Collective Depository, they must bring the KTUR Letter which can be obtained through the Exchange Member or Custodian Bank and show it to the officers of the Company’s Securities Administration Bureau before entering the Meeting Room.

4. For Shareholders in the form of legal entities such as limited liability companies, cooperatives, foundations or pension funds, must submit to officers of the Company’s Securities Administration Bureau before entering the meeting room, they should provide photocopy: (i) deed of establishment and endorsement; (ii) deed of latest Articles of Association including approval from and / or a letter of notification to the Ministry of Law and Human Rights of the Republic of Indonesia; and (iii) deed related to the latest composition of the Board of Directors and Board of Commissioners.

5. a. The shareholders who unable to attend can be represented by their authorized proxies, provide a valid original power of attorney with the contents and form as determined by the Board of Directors And provide a copy of valid ID card or other identification from Shareholders as the proxy and his power.

b. Members of the Board of Directors, Board of Commissioners and Employees of the Company may act as the power of the Shareholders of the Company in the Meeting, but the votes they issue as power of attorney are not counted in the voting.

c. The Power of Attorney form can be obtained every working day at the Office, in Citicon Tower 19th Floor Jalan Letjen S Parman Kav 72 West Jakarta 11410, Phone number 021-29308801, facsimile 021-29308802 and contact Corporate Secretary (Imelda Agustina Kiagoes).

d. All Power of Attorney must have been received by the Board of Directors in the office as mentioned above, maximum at 16.00 WIB on Tuesday, September 18 2018. If the Power of Attorney submitted in photocopy, then the original Power of Attorney must be submitted at the time of registration before entering meeting room.

6. To facilitate the arrangement and orderliness of the Meeting, the Shareholders or their proxies is kindly requested to be present at the venue of the Meeting 30 (thirty) minutes before the Meeting  begins

 

Jakarta, 13 November 2018

PT Pelita Samudera Shipping Tbk

Board of Directors

PRESS RELEASE: Q3 2018 FINANCE PERFORMANCE

PSS ACHIEVED 9M 2018 NET PROFIT OF US$12.1 MILLION, 9-FOLD INCREASE  

  • Net profit per share (EPS) reach about IDR 34
  • Seeking new business opportunities, PSS committed in continuing its fleet expansion

JAKARTA, OCTOBER 30, 2018

PT Pelita Samudera Shipping Tbk (“The Company”, “PSS”, IDX code: PSSI) announced its 9-months (9M) 2018 result. The Company reported Net Revenue of about US$46.8 million, reflecting an increase of 47.0% Year-on-Year (YoY), owing to solid performance generated by all of its business lines.

Tugs and Barges (T&B) contributed about 54.0% of PSS 9M 2018 Net Revenue, followed by Floading Loading Facility (FLF) and Mother Vessel (MV) of about 42.1% and 3.9%, respectively.

T&B reported a significant increase of coal transport activities, jumped by about 93% YoY, reaching about 9.5 million metric tons as of 9M 2018 compared to about 4.9 million metric tons achieved in the last year’s same corresponding period.

Increase in coal transfer volume also allowed FLF business line to report total volume of about 15.7 million metric tons in 9M 2018, or increased by about 19% YoY from 13.2 million metric tons achieved in the last year’s same corresponding period.

New business line, MV reported total volume of about 110.4k metric tons in 9M 2018. Note that the MV “Dewi Saraswati” was delivered to PSS in February 2018. Accordingly, MV “Dewi Saraswati” commenced its operation in March 2018.

PSS booked 9M 2018 Gross Profit of about US$12.6 million, more than 2-fold increase from US$5.6 million in 9M 2017.

The Company’s Gross Profit Margin, as a result, expanded from about 17.6% in 9M 2017 to about 26.9% in 9M 2018 in the mid of increase in fuel and diesel oil, fleet repair and maintenance, as well as charter hire expenses to accommodate high demand on coal transportation.

With stronger operational performance coupled with divestment of 1 unit FLF, PSS managed to report 9M 2018 Net Profit of about US$12.1 million compared to 9M 2017 Net Profit of about US$1.4 million. Excluding the One-Off Income and Expenses, PSS achieved 9M 2018 Net Profit of about US$5.4 million.

Committed for Fleet Expansion

The Company’s consistent effort to expand fleet combined with recovery of Thermal Coal Price allowed PSS to enjoy increases in T&B and FLF volume. During the last 2 years, PSS has successfully added 12 units of tugboats and 10 units of barges into its operational fleet.

In addition, the Company entered dry-bulk cargo business segment by acquiring 1 unit of Handymax Class MV named “Dewi Saraswati” in line with its effort to seek new market opportunity and expand its customer base.

A combination of 1 unit FLF divestment completed in October 2018 and healthy financial position will bring PSS better financial flexibility to support its fleet expansion commitment.

As of September 30 2018, PSS reported Cash and Cash Equivalents of about US$10.5 million (excluding proceeds from FLF divestment of about US$12 million) with Total Interest-bearing Debt of about US$27.1 million and Equity of about US$71.3 million.

Such solid financial positions displayed PSS well-managed capital structure with Gearing and Net Gearing Ratios of 0.38x and 0.23x as of September 30, 2018, better than 0.52x and 0.29x achieved as of September 30, 2017, respectively.

PRESS RELEASE: INTERIM DIVIDEND DISTRIBUTION TO SHAREHOLDERS

SOLID 9-MONTHS PERFORMANCE AND AMPLE LIQUIDITY, PSS TO DISTRIBUTE INTERIM DIVIDEND FOR SHAREHOLDERS

  • Cash Interim Dividend IDR 5 per share
  • Second Cash Dividend post its last year’s IPO
  • Healthy Financial Liquidity to Support the Company’s Sustainable Growth

JAKARTA, NOVEMBER 1, 2018

PT Pelita Samudera Shipping Tbk (“The Company”, “PSS”, IDX code: PSSI) announced a cash interim dividend for its shareholders, amounted about IDR25 billion or about IDR5 per share.

This interim dividend reflected about 14.8% payout ratio from the Company’s 9-Months 2018 Net Profit.

Within 9 months in 2018, PSS generated net profit of about USD12.1 million, or equivalent to about IDR170 billion (Earnings per Share or EPS of about IDR34) on average January-September 2018 exchange rate of IDR14,052 per US$.

Second Dividend Post IPO

This is the Company’s second dividend since its IPO, the interim dividend will be distributed at the end of November 2018. The first dividend has been distributed in June of this year.

PSS listed its shares on the Indonesia Stock Exchange on December 5, 2017, selling about 1.0 billion shares or floating about 20% shares to the Public.

Note that the Company had paid cash final dividend of about IDR25.15 billion or about IDR 5 per share from its FY 2017 Net Profit.

Healthy Liquidity Position

The Company has Cash and Cash Equivalents of about US$10.5 million (excluding proceeds from 1 unit FLF divestment of about US$12 million) as of September 30, 2018.

At the same time, the Company’s Total Current Asset stood at about US$41.8 million with Total Current Liabilities of about US$18.8 million, showing Current Ratio of 2.22x. This compared to Current Asset and Current Liabilities positions of about US$27.9 million and US$14.8 million as of December 31, 2017, respectively, or Current Ratio of about 1.89x.

With such healthy financial liquidity position, the Company has wider room for financing its expansion, particularly in term of acquiring various shipping units to its operational fleet.

As of September 30, 2018, Tugs and Barges (T&B) contributed about 54.0% of Net Revenue, followed by Floading Loading Facility (FLF) and Mother Vessel (MV) of about 42.1% and 3.9%, respectively.

T&B reported a significant increase of coal transport activities, jumped by about 44% YoY, reaching about 9.5 million metric tons compared to about 6.6 million metric tons achieved in the last year’s same corresponding period.

Increase in coal transfer volume also allowed FLF business line to report total volume of about 15.7 million metric tons in 9M 2018, or increased by about 19% YoY from 13.2 million metric tons achieved in the last year’s same corresponding period.

As of September 30, 2018, PSS operates fleet of 81 various units, consisted of 38 units of Tugboats, 38 units of Barges, 4  units of Floating Loading Facility (FLF) and 1 unit of Handymax Class Mother Vessel (MV).

DONATION FOR EARTHQUAKE AND TSUNAMI VICTIMS IN PALU AND DONGGALA

DONATION FOR EARTHQUAKE AND TSUNAMI VICTIMS IN PALU AND DONGGALA

PT Pelita Samudera Shipping Tbk provided donations for victims of the earthquake and tsunami in Palu and Donggala, Central Sulawesi with total amount Rp. 75,000,000. Donations are distributed through the Plan International Indonesia Foundation and APBI (Indonesian Coal Mining Association)

Some of the funds were donated through the Plan International Indonesia Foundation which was submitted directly by Setya Rahadi, Director and Imelda Agustina Kiagoes, Corporate Secretary to Linda Sukandar Fundraising Director of Plan International Indonesia Foundation on 1 November 2018. As a company which operates in Indonesia, PSS is obliged to help relieve the condition of the victims in the areas affected by the earthquake and tsunami. This donation is expected to support the classroom and schools infrastructure development post-earthquake in the Palu and Donggala areas.

Cash donation amount of Rp 75.000.000 (seventy five million rupiah) are distributed through the Plan International Indonesia Foundation and APBI (Indonesian Coal Mining Association).

 

RUPSLB 5th DECEMBER 2018

PT PELITA SAMUDERA SHIPPING Tbk

Domiciled in Jakarta

(“Company”)

 

NOTIFICATION

TO SHAREHOLDERS OF THE COMPANY

We, hereby would like to notify the Shareholders of the Company that theExtraordinary General Meeting of Shareholders (“EGMS”) shall be held on 5th December 2018, in Jakarta

Pursuant to article 19 of Article of Association of the Company and Indonesia Financial Services Authority Regulation No. 32/POJK.04/2014 dated 08th December 2014, Regarding the Extraordinary General Meeting of Shareholders Plan and Activity, the invitation of EGMS Shall be published on 13 November  2018 in 1 (one) national daily newspaper in Indonesian Language; Indonesia Stock Exchange Website and Company Website.

The Shareholders are eligible to attend or represented AGMS, whose names are recorded in the Register of Shareholders of the Company in Bureau of Securities Administration PT Datindo Entrycom on 12 November 2018 at 16.00 WIB

The shareholders who is entitled to propose the agenda of the meeting is 1 (one) shareholder or more who (collectively) represents 1/20 (one twenty) of the total shares issued by the company with valid voting rights.

The proposal of the Shareholders of the Company can be included in the agenda of AGMS subject to compliance with the requirement as stipulated in article 19 of Article of Association of the Company and Indonesia Financial Services Authority Regulation No. 32/POJK.04/2014 dated 08th December 2014 and shall be received by the Board of Directors of the Company not later than 7 (seven) calendar date prior the date of notice AGMS.

Jakarta, 29 October 2018

PT PELITA SAMUDERA SHIPPING TBK

Board of Directors