A LEADING CATALYST IN FACILITATING INDONESIA’S INFRASTRUCTURE DEVELOPMENT

COMPANY PROFILE

PT SARANA MULTI

INFRASTRUKTUR (PERSERO)

April 2017

PT SMI as a Catalyst in Accelerating Infrastructure Development

Status

Duties

Vision

Mission

Year Established : 2009

Type : State-Owned Enterprise

Regulation : MoF Regulation No.

100/PMK.010.2009 on Infrastructure

Financing Companies

Business License : Non-Bank Financial Institutions (NBFI)

Supporting Government’s infrastructure development

agenda through partnerships with private and/or

multilateral financial institutions in PPP projects

Serve as catalyst in accelerating infrastructure

development in Indonesia

100% owned by the Government of Indonesia

To serve as catalyst in accelerating national infrastructure

development

1. To become a strategic partner that delivers value added

contributions to Indonesia’s infrastructure development

2. To develop flexible financing products

3. To offer service excellence backed with good corporate

governance

Ownership

2

Capital Injection

from GOI

Capital Market

(Bonds, Notes,

Securitization)

Loans and

Grants

BPJS, Sharia

Insurance

Sharia Capital

Market

Hajj & Syirkah

Funds

Sovereign Wealth

Fund

Our Business Model

Sectoral Focus Sources of Funds

Co

nve

nti

on

al

Sh

ari

a*

FINANCING &

INVESTMENT

Infrastructure

Financing

Municipal Financing

(PIP/RIDF)

• Senior loan (Working

Capital, Investment

Loan)

• Junior Loan

• Mezzanine

• Equity investment

• Arranger & Underwriter

• Standby Lender PPP

Public Sector

Advisory

Training & Capacity

Building

Investment

Advisory

Financial

Advisory

Project

Development

Facility (PDF)

PDF & Donor Fund

Management

TA & Donor Funds

Management

PPP Project

Renewable Energy Project

(Geothermal Exploration)

Municipal Projects

IMBT/Lease with

Option to Own

Murabahah/Installmen

t Sale with Deferred

Payment

MMQ/Diminishing

Partnership

Musyarakah/

Partnership Financing

Technical

Assistance

CONSULTATION

SERVICES

PROJECT

DEVELOPMENT

Donor Fund

Management

PT SMI Business Pillars

Electricity

& Energy

Efficiency

Road and

Bridge

Transportation Telecommunicatio

n

Irrigation

Oil and

Gas

Waste Water &

Waste Management

Train Rolling

Stock

Water

Supply Renewable

Energy

Regional

Infrastructure

Correctional

Infrastructure Hospital

Market Tourism

Infrastructure

Social Infrastructure

Education

Infrastructure

3 IMBT= Ijarah Muntahia Bittamlik MMQ= Musyarakah Mutanaqisah

Various Financing and Investment Product of PT SMI

Financing and Investment Product Can Be Applied

Both in Conventional and Sharia Principle

• Investment Loan

• Take-Out

Financing

• Promoter

Financing

• Working Capital

Loan

• Bridging Financing

• Sharia Financing

20-30%

Equity

Equity

Subordinated Loan

Mezzanine

Convertibles Qu

asi-

Eq

uit

y

Long-Term

(> 5 years)

Short-term

(1-5 years)

Based on Project Financing Structure Based on Project Financing Tenor

Financing and

Investment Product

• Investment Loan

• Take-Out Financing

• Promoter Financing

• Subordinated Loan

• Sharia Financing

• Mezzanine

• Equity Investment

Financing Product

• Working Capital Loan

• Bridging Financing

• Cash Deficiency

Support (CDS)

Pro

ject

Fin

an

cin

g S

tru

ctu

re

70-80%

Debt

4

Project Location Mix

Execution of Mandate as Catalyst of Infrastructure Development Financing and Investment

Financing Sectors

Multiplier Effect

Long-term and

Flexible Scheme

Maturity Up to 25 Years

Grace Period Up to 15 Tahun

PT SMI’s Mandate

Long-term financing

Competitive interest rate

Innovative Financing Product

Flexible Financing Scheme

Large Multiplier effect

as of April 2017

Example: Toll Road Financing of

Palembang - Indralaya

5

Total Nilai Proyek

IDR 231.9 Trillion

Multiplier Effect

5.0 times to Financing

Commitment

8.1 times to Paid-up Capital

Toll Road 43.58%

PT PLN (Ex-PIP) 17.25%

Electricity 13.91%

Transportation 8.51% Oil and Gas

6.52% Telecommunication

4.13% Irrigation 3.32%

Clean Water 2.07%

Social (Hospital) 0.16% Road

0.54%

Jawa 46.26%

Sumatera 24.21%

Kalimantan 9.48%

Sulawesi 8.93%

Bali Nusa Tenggara

5.62%

Papua Maluku 5.49%

Financed Project Cost Commitment and Outstanding

Diversification of Financing Activities as of April 2017

*Including loan to PLN & Local Government, excluding Equity Investment

in IDR billion

6

Commitment by Product Outstanding by Product

33.05130.442

17.083

4.2623.0871.196

46.21644.896

23.004

5.5774.4772.222

2013 2012 30-Apr-17 2016 2015 2014

Commitment

Outstanding 231.912

38.181

95.754

50.084

2014 2015 2016 30-Apr-17 Total

Project Cost

up to 2013

39.642

8.251

Investment

Loan Bridge Loan

Working

Capital Loan

Subordinated

Loan

Promoter

Financing

Equity

Investment

IDR28.2 Tr IDR8.2 Tr IDR6.0 Tr IDR0.7 Tr IDR0.2 Tr IDR1.5 Tr

Investment

Loan Bridge Loan

Working

Capital Loan

Subordinated

Loan

Promoter

Financing

Equity

Investment

IDR21.2 Tr IDR7.6 Tr IDR2.4 Tr IDR0.5 Tr IDR0.2 Tr IDR1.5 Tr

Investment Loan

62.77%

Working Capital Loan

18.33%

Bridge Loan 13.42%

Promotor Financing

0.48%

Subordinated Loan

1.63%

Equity Investment

3.37%

Investment Loan

63.42%

Working Capital Loan

22.65%

Bridge Loan 7.25%

Promotor Financing

0.64%

Subordinated Loan

1.53%

Equity Investment

4.49%

Financial Performance of PT SMI Corporate Rating: AAA

*In 2015, the government injected additional capital of Rp20.3 trillion to PT SMI (Rp 18.3 trillion from Government Investment Center (PIP))

** In March 2016, Pefindo upgraded the corporate rating of PT SMI to “AAA”

2011 (Audited) 2012 (Audited) 2013 (Audited) 2014 (Audited) 2015 (Audited) 2016 (Audited)

Financial

Statements

Opinion

Fair Without

Exception

Fair Without

Exception

Fair Without

Exception

Fair Without

Exception

Fair Without

Exception

Fair Without

Exception

Soundness

Level

A

AAA AA AAA AAA AAA AAA

Corporate

Rating

AA/Stable

(Fitch Ratings)

AA+/Stable

(Fitch Ratings)

AA+/Stable

(Pefindo & Fitch)

AA+/Stable

(Pefindo & Fitch)

AAA/Stable

(Pefindo)**

57,836 41,103 97,398 106,561 207,189 244,664 305,389

1,212,803

2009 2010 2011 2012 2013 2014 2015 2016

Net Income (Rp Million)

1,057 2,098 2,195 4,310 4,545 4,785

25,432

30,885

2009 2010 2011 2012 2013 2014 2015 2016

Total Equities (Rp Billion)

72,820 82,115 193,804 226,037

424,105 597,750

743,834

2,329,444

2009 2010 2011 2012 2013 2014 2015 2016

Total Revenue (Rp Million)

1.063 2.120 2.213 5.132 7.088 9.169

32.714

44,332

2009 2010 2011 2012 2013 2014 2015 2016

Total Assets (Rp Billion)

7

Strategic Partnerships with Bilateral/Multilateral Institutions

Bilateral/Multilateral Institution

Agence Francaise de

Developpement (AFD)

Soft Loan + Grant for

Energy Efficiency and

Renewable Energy

Scope of

Cooperation

Asian Development Bank

(ADB) MoU for PPP

Transaction Advisory

Cities Development Initiative

for Asia (CDIA)

Capacity Building

related with urban

development

Temasek Foundation Capacity Building

related with PPP

Korea Development Bank

(KDB)

MoU for PPP

Exchange of

Information

Scope of

Cooperation

World Bank Group

Asian Infrastructure

Investment Bank (AIIB)

• Geothermal Fund

(GEF and CTF)

• RIDF for Municipal

Financing

Asian Development Bank

(ADB) dan German

Development Bank (KfW)

SIGAP Program

• Environmental

ESMS

• TA for Municipal

Financing

Japan Bank for International

Cooperation (JBIC)

Green Financing

Facility

Green Climate Fund (GCF) PT SMI as

Accredited Entity

Gesellschaft für Internationale

Zusammenarbeit (GIZ)

(Under Discussion)**

Soft Loan + Grant

• Renewable Energy

• Energy Efficiency

Street Lighting

• Sustainable Urban

Transport (BRT)

8

Bilateral/Multilateral Institution

*The cooperation has already finished

**The partnership is under discussion

Korea Development Bank (KDB)

China Development Bank (CDB)

Development Bank of Japan

(DBJ)

Benchmarking Studies

and Information

Sharing

Co-Financing

Strategic Partnerships in Co-Financing Activities

9

Bajulmati Reservoir,

Banyuwangi

Batam Municipal Solid

Waste Management

Pumbiu River Bridge, West

Sulawesi

Soekarno Hatta Airport Rail

Link

Water Supply Project

Jakarta

Mini Hydro Power Plant,

Mobuya, North Sulawesi

Coal-Fired Power Plant

Tanah Grogot, East Kalimantan

Coal Gasification Power Plant,

West Kutai

Bridge Project

Kali Api, Manokwari

Dekai-Oksibil

Road Project, Papua

Hydro Power Plant

Asahan, North Sumatera

Mini Hydro Power Plant Tara

Bintang, North Sumatera

Hydro Power Plant, Humbahas,

North Sumatera

Mini Hydro Power Plant South

Solok, West Sumatera

Mini Hydro Power Plant

Lebong, Bengkulu

Mini Hydro Power Plant

Lebak, Banten

Water Treatment & Supply

Project, Tegal Gede, Bekasi

Cikopo-Palimanan Highway

West Java

Gas-Fired Power Plant,

Tanjung Uncang, Batam

LPG Storage Terminal,

Semarang

Mini Hydro Power Plant

Banjarnegara, Central Java

Umbulan Water Spring,

East Java

Ngawi – Kertosono Toll Road

River Kujang Drainase

Project, Samarinda

Lampeong Waterway Project

North Barito

Bridge Wariki Project

Manokwari

Tugu Station and Pedestrian

Revitalization, Yogyakarta

Irrigation Project, Sangkup

North Sulawesi

Wundulako Irrigation

Kolaka, Southeast Sulawesi

Jeneponto-Bantaeng Road,

South Sulawesi

Gerak Tempe Reservoir

Wajo, South Sulawesi

Wind Energy Power Plant

Sumba and Lebak

Oil Refinery

Bojonegoro, East Java

Coal Train, East

Kalimantan

Mini Hydro Power Plant Tara

Bintang, North Sumatera

Coal-Fired Power

Plant Project, Gorontalo

Bulk Port, Tuban

East Java

Bulk Port, Gresik

Marisa Port,

Gorontalo Floating, Storage

Offloading, Madura

Floating, Storage Offloading

Natuna, Riau Islands

Mass Rapid Transit

Project, Surabaya

Logistic Murphy Semai Oil,

Fakfak

Arar Port Project

Sorong

Container Port Project Development

and Supporting Facilities at Palaran

Port, East Kalimantan

Solo – Ngawi Toll Road

• BTS Tower, Shelter

throughout Indonesia

• Working Capital in

Telecommunication

Port Container & Cigading

Port, Cilegon

Mini Hydro Power Plant, South

Solok, West Sumatera

Investment Planning Project at

Lombok Airport (Development)

Panaran Gas-Fired Power

Plant, Batam

1

1

2

3

3

4

4

6 6

8 8

5

5

7

7

9

9 10

10

11

11

12

12

13

13

14

14

15

15

16

16

17

17

18

18

19

19 20

20

21

21

23

23

24

24

25

25

26

26 22

22

27

27

29

29

30

30

31

32

32

33

33

34

34

35

35

36

36

37

37

38

38

39

39

40

40

42

42

41

41

43

43

45

45

46

46 47

47

44

44

48

48

49

49

50

50

51

51

28

28

52

52

53

53

54

54

55 55

31

Bendo Reservoir

Ponorogo, East Java

Ciliwung River Normalization,

Jakarta

Passenger Terminal Project

Supadio Airport

Pontianak, West Kalimantan

56

56

Expansion Project of Tanjung Priok

Port, Jakarta 57

Soekarno-Hatta Airport

Development

Gas Pipeline Construction,

Batam

58

58

57

Electrical Substation at

Kalibaru Port, Tanjung Priok

Corporate Business Plan, Banten

Activity Based Costing, Tanjung

Perak Surabaya, East Java

59

60

61

59

60

61

Medan – Binjai Toll Road

(Trans Sumatera Toll Road),

North Sumatera

Pejagan – Pemalang Toll

Road (Trans Java Toll

Road), Cenral Java

Titab Reservoir Project

Buleleng, Bali 62

62

Semarang-Solo Toll Road,

Central Java

Working Capital for Toll Road

Improvement, Central & East Java

Financial Advisor for Kertajati

Airport Development, West Java

63

63

Working Capital for Port

Operations, Banten

Power Plant, Musi Banyuasin

South Sumatera

Power Plant, Kendari

Southeast Sulawesi

Palapa Ring Project

Waste to Energy Project,

Nambo, West Java

Mandalika Special Economic

Zones, Lombok, West Nusa

Tenggara

Project Preparation for Water

Supply Project, Karawang,

West Java

Biogas Power Plant, Rokan Hulu

Riau

2

Case Study of Integrated

Railway and Kualanamu

Airport, North Sumatera 64

64

Leasing Rolling Stock Scheme in

corporation with PT KAI, Jakarta

Mini Hydro Power Plant

Lau Gunung, North Sumatera 65

65

Coal-Fired Power Plant

Tenayan, Riau 66 Sosok – Tayan & Tanjung –

Sanggau Road, West Kalimantan 67

67

Electricity Capex

Projects

Lavalette Hospital, Malang

East Java 68

68

69 Port Development project in

Jayapura

70

70

70

70

Local Government

infrastructure

development

assistance

71

71

projets | Advisory Services projects | Financing and Investment 20 projets | Project Development 6 64

Palembang – Indralaya Toll

Road (Trans Sumatera Toll

Road), South Sumatera

Coal-Fired Power Plant,

Lobam, Bintan

Jabung Irrigation Project,

East Lampung

Water Treatment & Supply,

Cipasauran, Banten

Gas Pipeline Construction for

Households, Tarakan,

West Kalimantan

34 Penajam Port Project,

East Kalimantan 72

72

73 Lampung City Water Treatment

Project, Bandar Lampung

73

69

Portfolio Distribution Across Indonesia

10

Scope of

Business

Advisory Project Development

• Improving the quality of the investment

package of infrastructure projects

• Coordinating the required expertise in

project management (project management

office)

• Enhancing standards of project

governance and execution

• Managing communication and work

strategies between stakeholders

(stakeholder management)

• Helping the project owner in the

readiness of viable investment projects

• Providing consulting services to identify

opportunities and challenges of

infrastructure projects

• Providing services to help obtain or to

utilize investment funds

• Opening access to the project market

(investors, lenders, etc.)

Types of

Product

Project Development Facility

National/

Priority

Regional/

Municipal

Renewables

Energy Financial

Advisory

Investment

Advisory

Capacity

Building

Public Sector Private Sector

Advisory and Project Development Business Pillars Play as an "Enabler“ in Accelerating Infrastructure Development

11

PPP Project Status

Palapa

Ring*

Ministry of

Communication

and Informatics

• Western Package: Financial

Close

• Central Package: Financial

Close

• Eastern Package: Financial

Close

Water Supply System

Umbulan

East Java

Province

Express Train

Airport Halim-Soetta

Ministry of

Transportation

Pre-Qualification For The

Procurement Of Business

Entity

PT SMI’s Role as the Catalyst in the PPP Project Preparation

through PDF Facility**

Water Supply System

Lampung

Mandate Potentials

Development of

Dr. Pirngadi Regional

Public Hospital

Development of West

Sidoarjo Regional Public

Hospital

Development of Bogor City

Water Supply System (SPAM)

Contracting

Agency Project Value

City of Bandar

Lampung

Government Support

Rp 2.05 Trillion

Rp 700 Billion

Rp 21 Trillion

• Govt Guarantee through IIGF

• Viability Gap Funding (VGF)

• Govt Guarantee through IIGF

• Viability Gap Funding (VGF)

• Govt Guarantee through IIGF

• Viability Gap Funding (VGF)

• Govt Guarantee through IIGF

Financial Close

Facility is not followed

through due to the change of

policy in Contracting Agency

* Palapa Ring project uses the Availability Payment scheme as the investment return mechanism ** PDF is the Project Development Facility

West Package

Middle

Package

East Package

Rp 1.28 Trillion

Rp 1.38 Trillion

Rp 5.09 Trillion

12

State Owned Company (BUMN)

“to be strategic partner of government

as a catalyst in the acceleration of the

infrastructure development in

Indonesia”

Excellent service and

competency

“It is not just the services of

the RM that is important but

also the competency and

industry knowledge”

Flexible loan term and payment

“Flexible terms of payment including payment

for Interest During Construction is crucial

especially in the early stage of the project”

1

2

3

4

5

Competitive Pricing

“Pricing is one of the most

important criteria in

selecting a lender and

represents the risk profile”

Comprehensive product offerings

“Complimentary to the

banking product and synergy

with the banking industry or

Private Equity (PE) ”

Value Proposition of PT SMI

13

Best Local

Strategic

Partner

Expertise in

Indonesian

Infrastructure

Market

Liaison with

Local

Authorities

Provide

Advisory and

other services

Government

Arm’s Length

Public and Private Sector Strategic Partner to

Accelerate The Development Of Infrastructure

Have extensive

experience in the

Indonesian

infrastructure market

Have extensive networking

with local authorities Provide advisory and catalytic activities

(knowledge and technical support)

100% owned by

Government of

Indonesia under

Ministry of Finance Infrastructure

Financing

Company

Why Collaborate with PT SMI?

PT SMI will be the Best Local Strategic Partner and Liaison for Investing

in Indonesian Infrastructure Market

14

Institutional &

Public/Private

Investor

A LEADING CATALYST IN FACILITATING INDONESIA’S INFRASTRUCTURE DEVELOPMENT

THANK YOU

Contact Us:

PT Sarana Multi Infrastruktur (Persero)

Sahid Sudirman Center, 48th Fl.

Jl. Jend. Sudirman No. 86, Jakarta 10220

Indonesia

(62-21) 8082 5288 (hunting),

(62-21) 8082 5258 (fax)

Website : www.ptsmi.co.id

Email : corporatesecretary@ptsmi.co.id

#baktiuntuknegeri