Business Plan for Information Technology-Based Lending Service Providers

To:
The Board of Directors of Information Technology-Based Lending Service Providers, At your location.

COPY
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 21 /SEOJK.05/2020 CONCERNING BUSINESS PLAN FOR INFORMATION TECHNOLOGY-BASED LENDING SERVICE PROVIDERS

In relation to the mandate of Article 7 paragraph (3), Article 14 paragraph (5), Article 15 paragraph (5), and Article 19 of the Financial Services Authority Regulation Number 24/POJK.05/2019 concerning the Business Plan of Non-Bank Financial Service Institutions (State Gazette of the Republic of Indonesia Year 2019 Number 175, Additional State Gazette of the Republic of Indonesia Number 6392), it is necessary to regulate the scope of the business plan, the form and structure of the business plan realization report, the form and structure of the business plan supervision report, and the procedures for submission of the business plan, adjustment of the business plan, change of the business plan, business plan realization report, and business plan supervision report of information technology-based lending service providers in this Financial Services Authority Circular Letter as follows:

I. GENERAL PROVISIONS
In this Financial Services Authority Circular Letter, the following terms are meant:

1. Information Technology-Based Lending Service is the provision of financial services to match lenders with borrowers in order to conduct lending agreements in Indonesian Rupiah directly through an electronic system using an internet network.

2. Information Technology-Based Lending Service Provider, hereinafter referred to as the Provider, is an Indonesian legal entity that provides, manages, and operates Information Technology-Based Lending Services.

3. Business Plan is a written document describing the Provider's development plan and business activities for a certain period, as well as strategies to realize such plans according to set targets and timeframes.

4. Board of Directors is the Board of Directors as referred to in Law Number 40 of 2007 concerning Limited Liability Companies for Providers in the form of a limited liability company legal entity or equivalent to the Board of Directors for Providers in the form of a cooperative legal entity.

5. Board of Commissioners is the Board of Commissioners as referred to in Law Number 40 of 2007 concerning Limited Liability Companies for Providers in the form of a limited liability company legal entity or equivalent to the Board of Commissioners for Providers in the form of a cooperative legal entity.

6. Business Plan Realization Report is a report prepared by the Board of Directors regarding the realization of the Business Plan up to a certain period.

7. Business Plan Supervision Report is a report from the Board of Commissioners regarding the results of supervision concerning the implementation of the Business Plan up to a certain period.

II. SCOPE OF BUSINESS PLAN

1. The scope of the Provider's Business Plan must at least contain:
   a. executive summary; b. evaluation of the implementation of the previous period's Business Plan;
   c. vision, mission, and business strategy;
   d. management policies and plans, including;

1. business activity plans;

2. plans for development or expansion of business activities;

3. capital plans;

4. plans for development and/or changes in office networks or distribution channels; and

5. plans for organizational development, human resources, and/or information technology;
   e. projected financial statements along with the assumptions used; f. projected ratios and specific items; and g. other information.

2. The executive summary as referred to in item 1 letter a contains a brief explanation of the main points of the Business Plan presented concisely so that the Business Plan can be understood comprehensively, including among others:
   a. plans and strategic steps to be taken by the Provider in the short term for a 1 (one) year period, medium term for a 3 (three) year period, and long term for a 5 (five) year period; b. key financial indicators; and
   c. description of short-term targets for a 1 (one) year period.

3. The executive summary as referred to in item 2 is prepared according to Format 1 as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

4. The evaluation of the implementation of the previous period's Business Plan as referred to in item 1 letter b contains an explanation regarding:
   a. main points of the realization of the previous period's Business Plan; b. obstacles and problems faced in the previous period; and
   c. measures taken to overcome such obstacles and problems.

5. The evaluation of the implementation of the previous period's Business Plan as referred to in item 4 is prepared according to Format 2 as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

6. The vision, mission, and business strategy as referred to in item 1 letter c contains an explanation regarding:
   a. vision, which is the goal the Provider wants to achieve in the long term; b. mission, which is the method used in the short or medium term to achieve the goal;

c. business strategy, which is the strategy and policy direction of the Provider in facing business competition and social dynamics in the future, which must at least include:

1. analysis of the Provider's position in facing business competition, including information regarding the Provider's position both within the same business group and in the industry, including information regarding problems and obstacles faced by the Provider;
2. the Provider's policy direction, consisting of an explanation of general information regarding the Provider's policies established by management in business development in the future; and
3. business development strategies, including among others information on strategic steps to achieve the Provider's established business goals, including an explanation regarding organizational development strategies and information system technology, and strategies to anticipate changes in external conditions.

7. In preparing the analysis of the Provider's position in facing business competition as referred to in item 6 letter c item 1), the Provider may use relevant strategic planning analysis methods, among others condition factor analysis, related and supporting industry analysis, strategy, structure, and rivalry analysis, and demand conditions analysis.

8. The vision, mission, and business strategy as referred to in item 6 is prepared according to Format 3 as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

9. The business activity plan as referred to in item 1 letter d item 1) contains an explanation regarding the plan for the disbursement of loan funds which must at least include:
   a. plan for the disbursement of loan funds based on activity type; b. plan for the disbursement of loan funds based on economic sector; and

c. plan for the disbursement of loan funds based on geographic location.

10. The business activity plan as referred to in item 9 is prepared according to Format 4 as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

11. The plan for development or expansion of business activities as referred to in item 1 letter d item 2) must at least include plans for the development or expansion of the Provider's business activities based on economic sector type, general description of business activities, and the timing of implementation of new business activities.

12. The plan for development or expansion of business activities as referred to in item 11 is prepared according to Format 5 as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

13. The capital plan as referred to in item 1 letter d item 3) must at least include:
    a. capital projections; and b. capital change plans.

14. The capital plan as referred to in item 13 is prepared according to Format 6 as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

15. The plan for development and/or changes in office networks or distribution channels as referred to in item 1 letter d item 4) must at least include:
    a. plans for opening offices or service units (outlets); b. plans for changing the address of the head office and offices or service units (outlets); and
    c. plans for closing offices or service units (outlets).

16. The plan for development and/or changes in office networks or distribution channels as referred to in item 15 is prepared according to Format 7 as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

17. The plan for organizational, human resources, and/or information technology development as referred to in item 1 letter d item 5) must at least include:
    a. organizational development plans, including among others:

1. plans for the formation of work units/divisions;
2. plans for changes to work units/divisions; and
3. plans for the formation of committees;
   b. human resources development plans, including among others:
4. plans for fulfilling human resources;
   a) recruitment plans; b) plans for appointment and dismissal of employees; c) plans for the use of consultants and/or advisors; and d) plans for the use of contract workers;
5. human resources education and training plans;
   a) plans for human resources education and training needs; and b) plans for human resources education and training costs/budgets;
6. plans for the use of foreign workers; and
7. plans for the utilization of outsourced labor; and
   c. information technology development plans, which are plans for fundamental development and procurement of information technology, including information regarding information technology development and maintenance costs, including among others:
8. application names, descriptions, development types, development nature, provider parties, implementation targets, and development costs;
9. significant changes to the Provider's information technology configuration or core applications;
10. procurement of new core applications;
11. cooperation with information technology service providers; and
12. other fundamental information technology development and procurement that can add and/or increase the Provider's risk.

18. The plan for organizational, human resources, and/or information technology development as referred to in item 17 is prepared according to Format 8 as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

19. Projected financial statements along with the assumptions used as referred to in item 1 letter e must at least include:
    a. assumptions used in preparing the projected financial statements, including:

1. macro assumptions including gross domestic product growth, inflation rates, and others detailed by assumption type; and
2. micro assumptions including the growth of Information Technology-Based Lending Services, growth of loan fund disbursements, interest rates, and 90 (ninety) day success rates;
   b. information regarding the Provider's financial conditions, including:
3. projected balance sheets;
4. projected comprehensive income statements; and
5. projected cash flow statements.

20. Projected financial statements along with the assumptions used as referred to in item 19 are prepared according to Format 9 as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

21. Projected ratios and specific items as referred to in item 1 letter f are prepared according to Format 10 as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

22. The Business Plan containing:
    a. key financial indicators in the executive summary as referred to in item 2 letter b; b. business activity plans as referred to in item 9;
    c. projected financial statements along with the assumptions used as referred to in item 19; and
    d. projected ratios and specific items as referred to in item 21, is presented:

1. for actual positions at the end of September of the Business Plan preparation year;
2. for projections at the end of December of the Business Plan preparation year;
3. for projections for the next 1 (one) year presented semi-annually; and
4. in full Indonesian Rupiah.

23. Other information as referred to in item 1 letter g must at least include:
    a. plans for merger, consolidation, and/or separation; and b. plans to cease business activities so as no longer to be a Provider.

24. The plan for merger, consolidation, and/or separation as referred to in item 23 letter a is prepared according to Format 11 as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

25. The plan to cease business activities so as no longer to be a Provider as referred to in item 23 letter b is prepared according to Format 12 as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

26. The Business Plan containing:
    a. business activity plans as referred to in item 1 letter d item 1); b. plans for development or expansion of business activities as referred to in item 1 letter d item 2);
    c. capital plans as referred to in item 1 letter d item 3);
    d. plans for development and/or changes in office networks or distribution channels as referred to in item 1 letter d item 4); e. plans for organizational, human resources, and/or information technology development as referred to in item 1 letter d item 5); f. plans for merger, consolidation, and/or separation as referred to in item 23 letter a; and

g. plans to cease business activities so as no longer to be a Provider as referred to in item 23 letter b, also contains descriptions regarding:

1. reasons or considerations used in preparing the aforementioned plans; and
2. the Provider's strategies to realize the aforementioned plans.

27. In the event there is other information that needs to be submitted by the Provider in the Business Plan, but its format is not regulated in this Financial Services Authority Circular Letter, the submission format for such information is prepared based on the Provider's needs.

III. FORM AND STRUCTURE OF BUSINESS PLAN REALIZATION REPORT AND BUSINESS PLAN SUPERVISION REPORT

1. The Business Plan Realization Report includes:
   a. explanation regarding the achievement of the Business Plan, namely the comparison between the plan and the realization of the Business Plan; b. explanation regarding deviations in the realization of the Business Plan, namely an explanation regarding the causes and obstacles of deviations between the plan and the realization of the Business Plan;
   c. follow-up actions on the achievement of the Business Plan, namely follow-up efforts that have been and will be taken to improve the realization achievement of the Business Plan;
   d. financial ratios and specific items; and e. other information, which among others contains information that needs to be submitted because it affects the realization of the Business Plan, but is not yet included in the scope of the Business Plan Realization Report as referred to in letters a through d.

2. The Business Plan Realization Report must be signed by members of the Board of Directors.

3. The Business Plan Realization Report is prepared according to Format 13 as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

4. The Business Plan Supervision Report must at least contain the Board of Commissioners' assessment regarding:

a. the realization of the Business Plan both quantitatively and qualitatively; b. factors affecting the Provider's performance; and
c. efforts to improve the Provider's performance.

5. The Business Plan Supervision Report must be signed by members of the Board of Commissioners.

6. The Business Plan Supervision Report is prepared according to Format 14 as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

IV. PROCEDURES FOR SUBMISSION OF BUSINESS PLAN, ADJUSTMENT OF BUSINESS PLAN, CHANGE OF BUSINESS PLAN, BUSINESS PLAN REALIZATION REPORT, AND BUSINESS PLAN SUPERVISION REPORT

1. Providers must submit the Business Plan, adjustment of the Business Plan, change of the Business Plan, Business Plan Realization Report, and Business Plan Supervision Report to the Financial Services Authority online via the Financial Services Authority's data communication network system.

2. Providers are required to ensure that the Business Plan submitted online as referred to in item 1 is correct and identical to the printed (hardcopy) document of the Business Plan.

3. In the event the Financial Services Authority's data communication network system as referred to in item 1 is not yet available or experiences technical disturbances, the submission of the Business Plan, adjustment of the Business Plan, change of the Business Plan, Business Plan Realization Report, and Business Plan Supervision Report is submitted to the Financial Services Authority offline by:
   a. being handed over directly; or b. being sent via a courier service company.

4. In the event of technical disturbances as referred to in item 3, the Financial Services Authority announces this via the Financial Services Authority website.

5. Submission of reports offline as referred to in item 3 must be submitted in electronic data (softcopy) form using media such as compact disc (CD) or other electronic data storage media.

6. Submission of reports as referred to in item 5 must be accompanied by a cover letter in printed (hardcopy) form signed by the Board of Directors.

7. Submission of the cover letter and the Business Plan, adjustment of the Business Plan, change of the Business Plan, Business Plan Realization Report, and Business Plan Supervision Report offline as referred to in item 3 is addressed to:
   Head of Executive Supervisor for Insurance, Pension Funds, Financing Institutions, and Other Financial Service Institutions Financial Services Authority attn. Director of Regulation, Licensing, and Financial Technology Supervision Wisma Mulia 2 Building, 12th Floor Jalan Jenderal Gatot Subroto Kav. 40 Jakarta 12710.

8. In the event of a change in the address of the Financial Services Authority Office for report submission as referred to in item 7, the Financial Services Authority conveys notification regarding the address change via letter or announcement.

9. Providers are deemed to have submitted the Business Plan, adjustment of the Business Plan, change of the Business Plan, Business Plan Realization Report, and Business Plan Supervision Report with the following provisions:
   a. for online submission via the Financial Services Authority's data communication network system, evidenced by a receipt from the Financial Services Authority's data communication network system; or b. for offline submission, evidenced by a receipt from the Financial Services Authority.

This copy is consistent with the original
Legal Director 1
Legal Department signed
Mufli Asmawidjaja

V. CLOSING
The provisions in this Financial Services Authority Circular Letter shall take effect on the date of determination. Determined in Jakarta on 6 November 2020 HEAD OF EXECUTIVE SUPERVISOR FOR INSURANCE, PENSION FUNDS, FINANCING INSTITUTIONS, AND OTHER FINANCIAL SERVICE INSTITUTIONS FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA, signed RISWINANDI

APPENDIX
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 21 /SEOJK.05/2020 CONCERNING BUSINESS PLAN FOR INFORMATION TECHNOLOGY-BASED LENDING SERVICE PROVIDERS

TABLE OF CONTENTS
FORMATS FOR BUSINESS PLAN OF INFORMATION TECHNOLOGY-BASED LENDING SERVICE PROVIDERS Format 1 : Executive Summary 2 Format 2 : Evaluation of Previous Period's Business Plan Implementation 5 Format 3 : Vision, Mission, and Business Strategy 7 Format 4 : Business Activity Plan 8 Format 5 : Plan for Development or Expansion of Business Activities 17 Format 6 : Capital Plan 18 Format 7 : Plan for Development and/or Changes in Office Networks or Distribution Channels 20 Format 8 : Plan for Organizational, Human Resources, and/or Information Technology Development 21 Format 9 : Projected Financial Statements Along with Assumptions Used 28 Format 10 : Projected Ratios and Specific Items 32 Format 11 : Plan for Merger, Consolidation, and/or Separation 33 Format 12 : Plan to Cease Business Activities So as No Longer to be a Provider 36 Format 13 : Business Plan Realization Report 37 Format 14 : Business Plan Supervision Report 38

Format 1 : Executive Summary

1. Short-Term Strategic Plans and Steps for a 1 (One) Year Period
   a. ..........
   b. ..........
   c. etc.

2. Medium-Term Strategic Plans and Steps for a 3 (Three) Year Period
   a. ..........
   b. ..........
   c. etc.

3. Long-Term Strategic Plans and Steps for a 5 (Five) Year Period
   a. ..........
   b. ..........
   c. etc.

4. Key Financial Indicators
   a. Key Financial Indicator Format for Providers

No. Key Financial Indicator Actual
Sept X-1 Projection
Dec X-1 June X Dec X

1. Total Assets
2. Total Liabilities
3. Total Equity
4. Total Revenue
5. Total Expenses
6. Profit (Loss)
7. Return On Assets (ROA)
   (net income / total assets)
8. Return On Equity (ROE)
   (net income / average shareholders equity)
9. BOPO Ratio
   (Total operational cost / total operating income)

Note:
X-1 is the year of report preparation.
X is the year of the business plan position. b. Description of the Provider's Financial Conditions (description of the Provider's financial conditions along with projections reflected in the key financial indicators)

5. Description of Short-Term Targets for a 1 (One) Year Period 1)
   a. ....................................................................................................
   b. ....................................................................................................
   c. ....................................................................................................
   d. ....................................................................................................
   e. ....................................................................................................

Note:

1. among others contains concise information regarding the Provider's business activity development strategies, changes in key parties, expansion of office networks, implementation of governance, risk management, and capital strengthening.

Format 2: Evaluation of Previous Business Plan Implementation a. Business Plan Realization Table for Organizers No. Business Plan Indicator X-1 Plan Previous Business Plan Realization Percentage (Realization / Business Plan)

1. Total Loan Disbursement Since Beginning of Year
2. 90-Day Success Rate (TKB 90)
3. Total Loan Disbursement to Productive Sectors Since Beginning of Year
4. Total Loan Disbursement Outside Java Since Beginning of Year
5. Total Unique Borrowers Since Beginning of Year
6. Total Unique Lenders Since Beginning of Year
7. Total Loan Disbursement to Borrowers Since Beginning of Year
8. Total Assets
9. Total Liabilities
10. Total Equity
11. Total Revenue
12. Total Expenses
13. Profit (Loss)
14. Return On Assets (ROA)
    (Net Income / Total Assets)
15. Return On Equity (ROE)
    (Net Income / Average Shareholders Equity)
16. BOPO Ratio
    Notes:
    Comparison between business plan and business plan realization every year (ignore if your company is a new company). Elaborate in detail in the following section, current business plan with business plan realization every year (up to Quarter 4). In this section, the company can see the company's performance in that period by comparing the business plan with the business plan realization.

b. Description of Evaluation and Implementation of Business Plan (filled with an explanation regarding the main points of realization of the previous business plan period, constraints and problems faced, and measures taken to overcome the constraints and problems)

Format 3: Vision, Mission, and Business Strategy

1. Organizer's Vision
   ..................................................................................................................
   ..................................................................................................................
2. Organizer's Mission
   ..................................................................................................................
   ..................................................................................................................
3. Organizer's Business Strategy
   a. analysis of the Organizer's position in facing business competition
   ...........................................................................................................
   ...........................................................................................................
   b. Organizer's policy direction
   ...........................................................................................................
   ...........................................................................................................
   c. business development strategy
   ...........................................................................................................
   ...........................................................................................................

Format 4: Business Activity Plan

1. Loan Fund Disbursement Plan
   a. Loan Fund Disbursement Plan Table by Activity Type Type of Use Actual Sept X-1 Projection Dec X-1 June X Dec X A. New Loan Fund Disbursement Plan B. Loan Fund Receivables Balance (Outstanding Principal) Total Loan Fund Receivables Balance Notes:
   X-1 is the year of report preparation.
   X is the business plan position year. b. Reasons and Considerations (filled with reasons/considerations in preparing the loan fund disbursement plan based on activity type)
   c. Strategy
   (filled with strategy to realize the loan fund disbursement plan based on activity type)

2. Loan Fund Disbursement Plan by Economic Sector
   a. Loan Fund Disbursement Plan Table by Economic Sector Economic Sector Actual Sept X-1 Projection Dec X-1 June X Dec X A. New Loan Fund Disbursement Plan:
   I. Economic Sector - Business Fields

3. Agriculture, Forestry, and Fisheries

4. Mining and Quarrying

5. Manufacturing Industry

6. Electricity, Gas, Steam/Hot Water, and Cold Air Supply

7. Water Supply, Sewage Management, Waste Management and Recycling, and Remediation Activities

8. Construction

9. Wholesale and Retail Trade, Repair and Maintenance of Cars and Motorcycles

10. Transportation and Trade

11. Accommodation and Food and Beverage Supply

12. Information and Communication

13. Financial and Insurance Activities

14. Real Estate

15. Professional, Scientific, and Technical Activities

16. Rental and Leasing Activities without Option Rights, Employment, Travel Agencies, and Other Business Support Activities

17. Government Administration, Defense, and Mandatory Social Security

Economic Sector
Actual
Sept X-1
Projection
Dec X-1
June X
Dec X
16. Education
17. Human Health Activities and Social Activities
18. Arts, Entertainment, and Recreation
19. Other Service Activities
20. Household Activities as Employers, Activities Producing Goods and Services by Households Used to Meet Own Needs
21. International Bodies and Other Extra-International Bodies
II. Economic Sector - Non-Business Fields
22. Households
23. Non-Business Fields - Others
Total New Loan Fund Disbursement
B. Loan Fund Receivables Balance (Outstanding Principal):
I. Economic Sector - Business Fields

1. Agriculture, Forestry, and Fisheries
2. Mining and Quarrying
3. Manufacturing Industry
4. Electricity, Gas, Steam/Hot Water, and Cold Air Supply
5. Water Supply, Sewage Management, Waste Management and Recycling, and Remediation Activities

Economic Sector
Actual
Sept X-1
Projection
Dec X-1
June X
Dec X
6. Construction
7. Wholesale and Retail Trade, Repair and Maintenance of Cars and Motorcycles
8. Transportation and Trade
9. Accommodation and Food and Beverage Supply
10. Information and Communication
11. Financial and Insurance Activities
12. Real Estate
13. Professional, Scientific, and Technical Activities
14. Rental and Leasing Activities without Option Rights, Employment, Travel Agencies, and Other Business Support Activities
15. Government Administration, Defense, and Mandatory Social Security
16. Education
17. Human Health Activities and Social Activities
18. Arts, Entertainment, and Recreation
19. Other Service Activities
20. Household Activities as Employers, Activities Producing Goods and Services by Households Used to Meet Own Needs
21. International Bodies and Other Extra-International Bodies
II. Economic Sector - Non-Business Fields
22. Households

Economic Sector
Actual
Sept X-1
Projection
Dec X-1
June X
Dec X
23. Non-Business Fields - Others
Total Loan Fund Receivables Balance (Outstanding Principle) Notes:
X-1 is the year of report preparation.
X is the business plan position year. b. Reasons and Considerations (filled with reasons/considerations in preparing the loan fund disbursement plan based on economic sectors that are priorities in loan fund disbursement)
c. Strategy
(filled with strategy to realize the loan fund disbursement plan based on economic sectors that are priorities in loan fund disbursement)

3. Loan Fund Disbursement Plan by Geographic Location
   a. Loan Fund Disbursement Plan Table by Geographic Location (after Java, ordered alphabetically) Loan Fund Disbursement Location Actual Sept X-1 Projection Dec X-1 June X Dec X A. New Loan Fund Disbursement:
4. Special Capital Region of Jakarta
5. West Java
6. Central Java
7. East Java
8. Special Region of Yogyakarta
9. Banten
10. Bali
11. Bengkulu
12. Gorontalo
13. Jambi
14. South Kalimantan
15. West Kalimantan
16. East Kalimantan
17. Central Kalimantan
18. North Kalimantan
19. Riau Islands
20. Bangka Belitung Islands
21. Lampung
22. Maluku
23. North Maluku
24. Nanggroe Aceh Darussalam
25. West Nusa Tenggara
26. East Nusa Tenggara

Loan Fund Disbursement Location
Actual
Sept X-1
Projection
Dec X-1
June X
Dec X
24. Papua
25. West Papua
26. Riau
27. West Sulawesi
28. South Sulawesi
29. Central Sulawesi
30. Southeast Sulawesi
31. North Sulawesi
32. North Sumatra
33. West Sumatra
34. South Sumatra
Total New Loan Fund Disbursement
B. Loan Fund Receivables Balance (Outstanding Principal):

1. Special Capital Region of Jakarta
2. West Java
3. Central Java
4. East Java
5. Special Region of Yogyakarta
6. Banten
7. Bali
8. Bengkulu
9. Gorontalo
10. Jambi
11. South Kalimantan
12. West Kalimantan
13. East Kalimantan
14. Central Kalimantan
15. North Kalimantan

Loan Fund Disbursement Location
Actual
Sept X-1
Projection
Dec X-1
June X
Dec X
16. Riau Islands
17. Bangka Belitung Islands
18. Lampung
19. Maluku
20. North Maluku
21. Nanggroe Aceh Darussalam
22. West Nusa Tenggara
23. East Nusa Tenggara
24. Papua
25. West Papua
26. Riau
27. West Sulawesi
28. South Sulawesi
29. Central Sulawesi
30. Southeast Sulawesi
31. North Sulawesi
32. North Sumatra
33. West Sumatra
34. South Sumatra
Total Loan Fund Receivables Balance (Outstanding Principle) Notes:
X-1 is the year of report preparation.
X is the business plan position year.

b. Reasons and Considerations
(filled with reasons/considerations in preparing the loan fund disbursement plan based on location)
c. Strategy
(filled with strategy to realize the loan fund disbursement plan based on location)

Format 5: Business Activity Development or Expansion Plan a. Business Activity Development and Expansion Plan Table No. Type of Economic Sector General Description of Business Activity Time of Implementation New Business Activity b. Reasons and Considerations (filled with reasons/considerations in preparing the business activity development and expansion plan)
c. Strategy
(filled with strategy to realize the business activity development and expansion plan)

Format 6: Capital Plan

1. Capital Projection
   Capital Projection Table
   Description
   Actual
   Sept X-1
   Projection
   Dec X-1
   June X
   Dec X
   Initial Paid-in Capital
   Old Shareholders
2. ...
3. etc.
   New Shareholders
4. ...
5. etc.
   Total Paid-in Capital
   Retained Earnings
   Total Equity
   Notes:
   X-1 is the year of report preparation.
   X is the business plan position year.
6. Capital Change Plan
   a. Description Regarding Capital Change Plan
   (filled with capital change plan accompanied by nominal size plan and time plan for implementing the capital change)

b. Reasons and Considerations
(filled with reasons/considerations in preparing the capital change plan)
c. Strategy
(filled with strategy to realize the capital change plan)

Format 7: Office Network or Distribution Channel Development and/or Change Plan a. Office Network or Distribution Channel Development and/or Change Plan Table Type of Office Time of Implementation 1) Estimated Investment (Cost) Location 2) Notes 3) A. OPENING:
Office or Service Unit (Outlet)
B. ADDRESS CHANGE:

1. Head Office
2. Office or Service Unit (Outlet)
   C. CLOSING:
   Office or Service Unit (Outlet)
   Notes:

1. Filled with the month of the planned implementation time.
2. For locations in the DKI Jakarta region, at least mention the name of the DKI Jakarta province.
   For locations outside the DKI Jakarta region, at least include the name of the Madya Regency/City.
3. Detailed notes can be attached in a separate sheet.
   b. Reasons and Considerations
   (filled with reasons/considerations in preparing the office network or distribution channel development and/or change plan)
   c. Strategy
   (filled with strategy to realize the office network or distribution channel development and/or change plan)

Format 8: Organizational, Human Resources, and/or Information Technology Development Plan

1. Organizational Development Plan
   a. Description Regarding Organizational Development Plan (filled with an explanation regarding the organizational development plan, including plans for the formation of work units/divisions, plans for changing work units/divisions, and plans for forming committees, adjusted to the size and complexity of the Organizer's business) b. Reasons and Considerations (filled with reasons/considerations in preparing the organizational development plan)
   c. Strategy
   (filled with strategy to realize the organizational development plan)

2. Human Resources Development Plan
   a. Human Resources Fulfillment Plan

1. Description Regarding Human Resources Fulfillment Plan
   (filled with an explanation regarding the recruitment plan, appointment and dismissal of employees, use of consultants or advisors, and use of contract workers of the Organizer)
2. Reasons and Considerations
   (filled with reasons/considerations in preparing the human resources fulfillment plan)
3. Strategy
   (filled with strategy to realize the human resources fulfillment plan)

b. Human Resources Education and Training Plan

1. Human Resources Education and Training Plan Table
   No. Training Material 1)
   Training Method 2)
   Estimated Training Time 3)
   Training Duration 4)
   Location
   Speaker/Training Institution
   Total Number of Participants
   Training Cost

2. etc..
   Notes:

1. e.g.: machine learning, big data management, online marketing, etc.
2. filled with in-house training or out-house training
3. filled with the month of training implementation, e.g.: March 2020
4. filled with the duration of training, e.g.: 3 days
5. Reasons and Considerations
   (filled with reasons/considerations in preparing the human resources education and training plan)
6. Strategy
   (filled with strategy to realize the human resources education and training plan)

c. Foreign Worker Utilization Plan

1. Foreign Worker Utilization Plan Table
   No
   Name of Foreign Worker (TKA) / Number of Foreign Workers (TKA) 1) Position Job Title Field of Work Assignment Duration Name of Companion Worker Planned Knowledge Transfer Program Reason 2) 1. 2. 3. ...
2. Reasons and Considerations
   (filled with reasons/considerations in preparing the foreign worker utilization plan)
3. Strategy
   (filled with strategy to realize the foreign worker utilization plan) Notes:
4. filled with name if available or number of foreign workers (TKA)
5. filled with reasons for utilizing foreign workers and reasons why Indonesian workers are not/are not yet used

d. Outsourced Labor Utilization Plan

1. Outsourced Labor (TAD) Utilization Plan Table
   No. Field of Task
   Reason for Utilizing TAD
   Number of TAD
   Name of Organizer
   TAD Provider (if any)
   Duration of Agreement with Organizer
   TAD

...
2) Reasons and Considerations
(filled with reasons/considerations in preparing the outsourced labor utilization plan)
3) Strategy
(filled with strategy to realize the outsourced labor utilization plan)

3. Information Technology Development Plan
   a. Information Technology Development Plan Table No. Name of Application Description Type Nature Provider Side Implementation Target Cost Notes (1) (2) (3) (4) (5) (6) (7) (8) (9) 1. 2. 3. Etc.. b. Reasons and Considerations (filled with reasons/considerations in preparing the fundamental information technology development and procurement plan) Notes:

1. serial number.
2. name of application (software)/infrastructure (hardware) to be developed
3. detailed explanation of application (software)/infrastructure (hardware) to be developed
4. filled with the type of development performed:

• new: interpreted as the development of new application (software)/infrastructure (hardware); or
• update: interpreted as the development of existing application (software)/infrastructure (hardware)

5. filled with the nature of the development:

• inhouse = performed by the internal company; or
• IT Service Provider (PPJ TI) = performed by the IT Service Provider/vendor

6. name of IT Service Provider (vendor)
7. filled with Quarter I/II/III/IV
8. filled with estimated development cost for 1 (one) year
9. detailed notes can be elaborated on a separate sheet

c. Strategy
(filled with strategy to realize the fundamental information technology development and procurement plan)

Format 9: Financial Report Projection and Assumptions Used

1. Macro and Micro Assumptions Used
   Assumption
   Actual
   Sept X-1
   Projection
   Dec X-1
   June X
   Dec X
   A. Macro Assumptions 1):
2. Gross Domestic Product Growth
3. Inflation Rate (%)
4. Others, detailed by type of assumption 2)
   B. Micro Assumptions:
5. Information Technology-Based Money Lending Service Growth (%)
6. Loan Fund Disbursement Growth (%)
7. Interest Rate (%)
8. 90-Day Success Rate
9. Others, detailed by type of assumption 3)
   Notes:
   X-1 is the year of report preparation.
   X is the business plan position year.

1. in case semester assumptions are not available, annual assumptions can be used and can be accompanied by an explanation regarding the source of the institution that is the basis for the macro assumptions used.
2. other macro assumptions, such as unemployment rate and poverty rate.
3. other micro assumptions, such as the Organizer's share of the industry.

2. Information Regarding the Organizer's Financial Condition
   a. Financial Position Projection
   Items
   Actual
   Sept X-1
   Projection
   Dec X-1
   June X
   Dec X
   ASSETS
3. Cash and Cash Equivalents
4. Other Current Assets
5. Fixed Assets
   Total Assets
   LIABILITIES
6. Current Liabilities
7. Non-Current Liabilities
   Total Liabilities
   EQUITY
8. Paid-in Capital
9. Share Premium
10. Retained Earnings
11. Current Year Profit
12. Other Equity
    Total Equity
    Notes:
    X-1 is the year of report preparation.
    X is the business plan position year. b. Comprehensive Profit/Loss Projection Items Actual Sept X-1 Projection Dec X-1 June X Dec X REVENUE
13. Operational Revenue
14. Non-Operational Revenue
15. Other Revenue
    Total Revenue
    EXPENSES
16. Operational Expenses
17. IT Maintenance and Development Expenses

Items
Actual
Sept X-1
Projection
Dec X-1
June X
Dec X
3. Marketing Expenses
4. Other Operational Expenses
5. Non-Operational Expenses
Total Expenses
PROFIT (LOSS) BEFORE TAX
Tax Expense
PROFIT (LOSS) AFTER TAX
Notes:
X-1 is the year of report preparation.
X is the business plan position year.
c. Cash Flow Projection
Items
Actual
Sept X-1
Projection
Dec X-1
June X
Dec X
A. Net Cash Flow from Operating Activities

1. Cash Inflow from Operating Activities
2. Cash Outflow for Operating Activities
   B. Net Cash Flow from Investing Activities
3. Cash Inflow from Investing Activities
4. Cash Outflow for Investing Activities
   C. Net Cash Flow from Financing Activities
5. Cash Inflow from Financing Activities
6. Cash Outflow from Financing Activities
   D. Increase (Decrease) from Foreign Currency Exchange Rate Changes E. Net Increase (Decrease) in Cash and Cash Equivalents

Items
Actual
Sept X-1
Projection
Dec X-1
June X
Dec X
F. Cash and Cash Equivalents at Beginning of Period G. Cash and Cash Equivalents at End of Period Notes:
X-1 is the year of report preparation.
X is the business plan position year.

Format for Projection of Specific Ratios and Items Specific Ratios and Items Actual Sept X-1 Projection Dec X-1 June X Dec X

1. Total Revenue
2. Return On Assets
3. Return On Equity
4. BOPO Ratio
   (Operational Expenses divided by Operational Revenue)
5. Total Outstanding Loans
6. Total Loan Disbursement Since Beginning of Year
7. 90-Day Success Rate (TKB 90)
8. Total Loan Disbursement to Productive Sectors Since Beginning of Year
9. Total Loan Disbursement Outside Java Since Beginning of Year
10. Total Unique Borrowers Since Beginning of Year
11. Total Loan Disbursement to Borrowers Since Beginning of Year
    Notes:
    X-1 is the year of report preparation.
    X is the business plan position year.
    Format 10: Projection of Specific Ratios and Items

Format 11: Merger, Consolidation, and/or Separation Plan

1. Merger Plan
   a. Information regarding the merger plan:
   Organizers merging:

1. ....
2. ....
3. etc.
   Organizers receiving the merger: ....
   b. Reasons and Considerations
   (filled with reasons/considerations for merger)
   c. Strategy
   (filled with merger strategy)

2. Consolidation Plan
   a. Information regarding the consolidation plan:
   Organizers consolidating:

1. ....
2. ....
3. etc.
   Organizers after consolidation: ....
   b. Reasons, Considerations, and Objectives
   (filled with reasons, considerations, and objectives for consolidation)
   c. Strategy and Implementation Steps
   (filled with strategy and implementation steps for consolidation)

3. Separation Plan
   a. Information regarding the separation plan:
   Organizers separating: ....
   Organizers resulting from separation:

1. ...
2. ...
3. etc.
   b. Reasons and Considerations
   (filled with reasons/considerations for separation)
   c. Strategy
   (filled with separation strategy)

Format 12: Business Termination Plan So That It No Longer Becomes an Organizer

1. Explanation
   (filled with an explanation regarding the business termination plan so that it no longer becomes an Organizer, including reasons for terminating business so that it no longer becomes an Organizer)
2. Reasons and Considerations
   (filled with reasons/considerations for terminating business so that it no longer becomes an Organizer)
3. Strategy
   (filled with strategy for terminating business so that it no longer becomes an Organizer)

Format 13: Business Plan Realization Report a. Filled with an explanation regarding the achievement of the Business Plan, including the achievement of the Business Plan and a comparison of the plan and realization which at least includes:

1. realization of business activities as referred to in Format 4;
2. realization of business activity development or expansion as referred to in Format 5;
3. realization of organizational, human resources, and/or information technology development as referred to in Format 8; and
4. realization of financial report projection and assumptions used as referred to in Format 9.
   b. Filled with an explanation regarding deviations from the Business Plan realization related to the scope of realization in letter a, such as causes and constraints faced.
   c. Filled with follow-up efforts that have been and will be taken to improve the realization achievement of the Business Plan.
   d. Filled with financial ratios and specific items including an explanation regarding the realization of financial ratios and specific items as referred to in Format 10. e. Filled with an explanation regarding the achievement of other information in the Business Plan and a comparison of the plan and realization which at least includes:
5. realization of the capital plan as referred to in Format 6;
6. realization of the office network or distribution channel development and/or change as referred to in Format 7;
7. realization of the merger, consolidation, and/or separation as referred to in Format 11;
8. realization of the business termination plan so that it no longer becomes an Organizer as referred to in Format 12; and
9. realization of the Information Technology-Based Money Lending Service conversion plan as referred to in Format 13.
   Acknowledged by:
   Board of Directors: (signature and clear name) Board of Directors: (signature and clear name) and so on... and so on...

This copy matches the original
Legal Director 1
Legal Department signed
Mufli Asmawidjaja

Format 14: Supervisory Report on Business Plan (to be filled with the Board of Commissioners' assessment regarding the implementation of the Business Plan, consisting of quantitative and qualitative assessments of the realization of the Business Plan, assessment of good corporate governance factors of the Provider, risk profile, profitability, and capital, as well as efforts to improve the Provider's performance, if according to the relevant assessment there is a decline in the Provider's performance. Approved by:
Board of Commissioners: (signature and clear name) Board of Commissioners: (signature and clear name) and so on... and so on... Established in Jakarta on November 6, 2020

HEAD OF EXECUTIVE SUPERVISOR
OF INSURANCE, PENSION FUNDS,
FINANCING INSTITUTIONS, AND
OTHER FINANCIAL SERVICE INSTITUTIONS
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA, signed
RISWINANDI