Business Plan of Secondary Housing Financing Companies

To:
The Board of Directors of Secondary Housing Financing Companies

COPY

CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 12 /SEOJK.05/2020

CONCERNING

BUSINESS PLAN OF SECONDARY HOUSING FINANCING COMPANIES

In accordance with the mandate of Article 7 paragraph (3), Article 14 paragraph (5), Article 15 paragraph (5), and Article 19 of 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, Supplement to the 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 submitting the business plan, adjusting the business plan, changing the business plan, reporting the realization of the business plan, and reporting the supervision of the business plan of secondary housing financing companies in a Circular Letter of the Financial Services Authority as follows:

I. GENERAL PROVISIONS

In this Circular Letter of the Financial Services Authority, the following terms are meant:

Secondary Housing Financing is the organization of medium-term and/or long-term fund disbursement activities by conducting the disbursement of loans and/or the disbursement of financing to housing credit distribution institutions and/or asset securitization to the originator creditor.
Secondary Housing Financing Company, hereinafter abbreviated as PPSP, is a limited liability company established by the Government of the Republic of Indonesia to carry out Secondary Housing Financing business activities, the execution of special tasks from the government, and other business activities based on shareholder approval.
Sharia Principles are Islamic legal provisions based on fatwas and/or statements of Sharia compliance from the National Sharia Board of the Indonesian Ulema Council.
Sharia Business Unit, hereinafter abbreviated as UUS, is a work unit at the PPSP headquarters that functions to carry out Secondary Housing Financing business activities based on Sharia Principles and is the headquarters of branch offices and/or representative offices that carry out Secondary Housing Financing business activities based on Sharia Principles.
Business Plan is a written document describing the development plan and business activities of PPSP over a certain period, as well as strategies to realize such plans according to established targets and timeframes.
Board of Directors is the board of directors as referred to in Law Number 40 of 2007 concerning Limited Liability Companies.
Board of Commissioners is the board of commissioners as referred to in Law Number 40 of 2007 concerning Limited Liability Companies.
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.
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

The Scope of the Business Plan must contain at least:
a. executive summary; b. evaluation of the implementation of the previous period's Business Plan;
c. vision, mission, and business strategy;
d. policies and management plans, including:
1. business activity plans;
2. plans for development or expansion of business activities;
3. capital plans;
4. funding plans;
5. plans for development and/or changes to office networks or distribution channels; and
6. 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.
The Scope of the Business Plan as referred to in item 1 must also include a specific business plan for the UUS which is an integral part of the Business Plan.
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 PPSP in the short term for a 1 (one) year period and the 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.
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 encountered; and
c. measures taken to overcome such obstacles and problems.
The vision, mission, and business strategy as referred to in item 1 letter c contains an explanation regarding:
a. vision, which is the goal PPSP wants to achieve in the long term; b. mission, which is the method used in the short or medium term to achieve goals;
c. business strategy, which is the strategy and policy direction of PPSP in facing business competition and social dynamics in the future, which must include at least:
1. analysis of PPSP's position in facing business competition, including information regarding PPSP's position with other financial service institutions, including information regarding problems and obstacles experienced by PPSP;
2. PPSP's policy direction, consisting of an explanation of general information regarding PPSP's policies established by management in business development in the future; and
3. business development strategy, which includes information on strategic steps to achieve PPSP's established business goals, including an explanation of organizational development and information system technology strategies, and strategies to anticipate changes in external conditions.
In preparing the analysis of PPSP's position in facing business competition as referred to in item 5 letter c item 1), PPSP may use relevant strategic planning analysis methods.
The business activity plan as referred to in item 1 letter d item 1) contains an explanation regarding PPSP's business activity plans which must include at least:
a. plans for loan disbursement and/or financing disbursement; and b. securitization plans including the issuance of asset-backed securities.
The business activity plan as referred to in item 7 is prepared according to Format 1 as contained in the Appendix which is an integral part of this Circular Letter of the Financial Services Authority.
The plan for development or expansion of business activities as referred to in item 1 letter d item 2) must include at least:
a. execution of special tasks from the government; and/or b. plans for implementing other business activities that support development and expansion in the housing financing sector with shareholder approval.
The plan for development or expansion of business activities as referred to in item 9 is prepared according to Format 2 as contained in the Appendix which is an integral part of this Circular Letter of the Financial Services Authority.
The capital plan as referred to in item 1 letter d item 3) must include at least:
a. plans for fulfilling capital ratios; and b. capital projections.
The capital plan as referred to in item 11 is prepared according to Format 3 as contained in the Appendix which is an integral part of this Circular Letter of the Financial Services Authority.
The funding plan as referred to in item 1 letter d item 4) must include at least:
a. funding plans based on funding sources; b. funding plans based on currency; and
c. funding plans based on funding agreements for PPSP's UUS.
The funding plan as referred to in item 13 is prepared according to Format 4 as contained in the Appendix which is an integral part of this Circular Letter of the Financial Services Authority.
The plan for development and/or changes to office networks or distribution channels as referred to in item 1 letter d item 5) must include at least:
a. plans for opening branch offices and/or UUS branch offices; b. plans for changing the addresses of headquarters, branch offices, and/or UUS branch offices; and
c. plans for closing branch offices and/or UUS branch offices.
The plan for development and/or changes to office networks or distribution channels as referred to in item 15 is prepared according to Format 5 as contained in the Appendix which is an integral part of this Circular Letter of the Financial Services Authority.
The plan for organizational, human resources, and/or information technology development as referred to in item 1 letter d item 6) must include at least:
a. organizational development plans, including:
1. plans for forming work units/divisions;
2. plans for changing work units/divisions; and
3. plans for forming committees;
  b. human resources development plans, including:
4. plans to fulfill human resource needs:
  a) recruitment plans; b) plans for appointment and dismissal of employees; c) plans for using consultants and/or advisors; and d) plans for using 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 using foreign workers; and
7. plans for utilizing outsourced labor; and
  c. information technology development plans, which are fundamental plans for the development and procurement of information technology, including information regarding the costs of development and maintenance of information technology, including among others:
8. significant changes to information technology configurations and/or core applications;
9. procurement of new core applications;
10. cooperation with information technology service providers; and
11. development and procurement of other fundamental information technology that can add and/or increase PPSP's risk.
The human resources development plan as referred to in item 17 letter b is prepared according to Format 6 as contained in the Appendix which is an integral part of this Circular Letter of the Financial Services Authority.
Projected financial statements along with the assumptions used as referred to in item 1 letter e must include at least:
a. assumptions used in preparing the projected financial statements, including:
1. macro assumptions including gross domestic product growth, benchmark interest rates, non-performing financing ratios for the property sector, exchange rates, inflation rates, and per capita income; and
2. micro assumptions including financing growth, funding growth, funding interest rates/yields, financing interest rates/yields, interest rates/yields of asset-backed securities in the form of participation notes issued, housing backlog, non-performing collateralized mortgage receivables securitization ratios, and non-performing housing financing receivables ratios; and
  b. information regarding PPSP's financial conditions, including:
3. projected balance sheets;
4. projected comprehensive income statements; and
5. projected cash flow statements; and
6. asset and liability matching analysis reports.
Projected financial statements along with the assumptions used as referred to in item 19 are prepared according to Format 7 as contained in the Appendix which is an integral part of this Circular Letter of the Financial Services Authority.
Projected ratios and specific items as referred to in item 1 letter f are prepared according to Format 8 as contained in the Appendix which is an integral part of this Circular Letter of the Financial Services Authority.
Other information as referred to in item 1 letter g must include at least:
a. direct participation plans; and b. sustainable finance action plans.
The direct participation plan as referred to in item 22 letter a is prepared according to Format 9 as contained in the Appendix which is an integral part of this Circular Letter of the Financial Services Authority.
The sustainable finance action plan as referred to in item 22 letter b is prepared according to formats regulated in Financial Services Authority Regulations concerning the implementation of sustainable finance for financial service institutions, issuers, and public companies.
Business Plans containing:
a. business activity plans as referred to in item 7; b. capital plans as referred to in item 11;
c. funding plans as referred to in item 13;
d. projected financial statements along with the assumptions used as referred to in item 19; e. projected ratios and specific items as referred to in item 21; and f. direct participation plans as referred to in item 22 letter a, are presented:
a. for actual positions at the end of September of the year the Business Plan is prepared; b. for projections at the end of December of the year the Business Plan is prepared;
c. for projections 1 (one) year ahead presented semi-annually; and
d. in full Indonesian Rupiah.
Business Plans 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. funding plans as referred to in item 1 letter d item 4); e. plans for development and/or changes to office networks or distribution channels as referred to in item 1 letter d item 5); f. plans for organizational, human resources, and/or information technology development as referred to in item 1 letter d item 6); and g. direct participation plans as referred to in item 22 letter a; must also contain explanations regarding:
a. reasons or considerations used in preparing the aforementioned plans; and b. PPSP's strategies to realize the aforementioned plans.
In the event there is other information that PPSP needs to submit in the Business Plan, but its format is not regulated in this Circular Letter of the Financial Services Authority, the format for submitting such information is prepared based on PPSP's needs.

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

The Business Plan Realization Report includes:
a. explanations regarding the achievement of the Business Plan, namely the comparison between the plan and the realization of the Business Plan, including regarding the focus and priority of achieving the Business Plan; b. explanations regarding deviations in the realization of the Business Plan, namely explanations regarding the magnitude of deviations, causes, and obstacles to the occurrence 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 carried out 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.
For PPSP's UUS, the Business Plan Realization Report must also contain specific realization reports for the UUS which are an integral part of the Business Plan Realization Report.
The Business Plan Realization Report must be signed by members of the Board of Directors.
The Business Plan Realization Report is prepared according to Format 10 as contained in the Appendix which is an integral part of this Circular Letter of the Financial Services Authority.
The Business Plan Supervision Report must contain at least the Board of Commissioners' assessment regarding:
a. the realization of the Business Plan both quantitatively and qualitatively; b. factors affecting PPSP's performance; and
c. efforts to improve PPSP's performance.
The Business Plan Supervision Report must also contain specific supervision reports for the UUS which are an integral part of the Business Plan Supervision Report.
The Business Plan Supervision Report must be signed by members of the Board of Commissioners.
The Business Plan Supervision Report is prepared according to Format 11 as contained in the Appendix which is an integral part of this Circular Letter of the Financial Services Authority.

IV. PROCEDURES FOR SUBMITTING BUSINESS PLANS, ADJUSTING BUSINESS PLANS, CHANGING BUSINESS PLANS, BUSINESS PLAN REALIZATION REPORTS, AND BUSINESS PLAN SUPERVISION REPORTS

PPSP must submit Business Plans, adjustments to Business Plans, changes to Business Plans, Business Plan Realization Reports, and Business Plan Supervision Reports to the Financial Services Authority online through the Financial Services Authority's data communication network system.
PPSP is 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.
In the event that 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 Business Plans, adjustments to Business Plans, changes to Business Plans, Business Plan Realization Reports, and Business Plan Supervision Reports is submitted to the Financial Services Authority offline by:
a. being handed over directly; or b. being sent through a courier service company.
In the event of technical disturbances as referred to in item 3, the Financial Services Authority announces this through the Financial Services Authority's website.
The submission of reports offline as referred to in item 3 must be submitted in electronic data (softcopy) form using media in the form of a compact disc (CD) or other electronic data storage media.
The 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.
The submission of cover letters and Business Plans, adjustments to Business Plans, changes to Business Plans, Business Plan Realization Reports, and Business Plan Supervision Reports offline as referred to in item 3 is addressed to:
a. for PPSP:
Head of Executive Supervisor for Insurance, Pension Funds, Financing Institutions, and Other Financial Service Institutions Financial Services Authority u.p. Director of Special Financial Institution Supervision Wisma Mulia 2 Building, 15th Floor Jalan Jenderal Gatot Subroto Kav. 40 Jakarta 12710. b. for UUS of PPSP:
Head of Executive Supervisor for Insurance, Pension Funds, Financing Institutions, and Other Financial Service Institutions Financial Services Authority u.p. Sharia IKNB Director Wisma Mulia 2 Building, 15th Floor Jalan Jenderal Gatot Subroto Kav. 40 Jakarta 12710.
In the event of a change in the address of the Financial Services Authority's Office for the submission of reports as referred to in item 7, the Financial Services Authority conveys notification regarding the address change via letter or announcement.
PPSP is deemed to have submitted Business Plans, adjustments to Business Plans, changes to Business Plans, Business Plan Realization Reports, and Business Plan Supervision Reports with the following provisions:
a. for online submission through 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 Circular Letter of the Financial Services Authority shall take effect from the date of establishment.

Established in Jakarta on July 1, 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 12 /SEOJK.05/2020 CONCERNING BUSINESS PLAN OF SECONDARY HOUSING FINANCING COMPANIES

TABLE OF CONTENTS
BUSINESS PLAN FORMS
SECONDARY HOUSING FINANCING COMPANIES

Format 1 : Business Activity Plan 2
Format 2 : Plan for Development or Expansion of Business Activities 6 Format 3 : Capital Plan 7 Format 4 : Funding Plan 8 Format 5 : Plan for Development and/or Changes to Office Networks or Distribution Channels Format 6 : Human Resources Development Plan 13 Format 7 : Projected Financial Statements Along with Assumptions Used Format 8 : Projected Ratios and Specific Items 40 Format 9 : Direct Participation Plan 41 Format 10 : Business Plan Realization Report 42 Format 11 : Business Plan Supervision Report 43

Format 1 : Business Activity Plan

Plan for Loan Disbursement or Financing Disbursement

a. Plan for PPSP's Loan Disbursement or Financing Disbursement

Usage Type
Actual
Sep X-1
Projection
Dec X-1 June X Dec X

A. Plan for New Loan Disbursement or Financing Disbursement:

Loan Disbursement
a. Commercial b. Program
c. Others
Financing Disbursement based on Sharia Principles
a. Mudharabah b. Musyarakah
c. Mudharabah Musytarakah
d. Musyarakah Mutanaqishoh e. Agreements Other than Agreements as referred to in letters a through d, which Do Not Contradict Sharia Principles Total Plan for New Financing Disbursement

B. Outstanding Principal Balance of Financing:

Loan Disbursement

Usage Type
Actual
Sep X-1
Projection
Dec X-1 June X Dec X

a. Commercial b. Program
c. Others
2. Financing Disbursement based on Sharia Principles
a. Mudharabah b. Musyarakah
c. Mudharabah Musytarakah
d. Musyarakah Mutanaqishoh e. Agreements Other than Agreements as referred to in letters a through d, which Do Not Contradict Sharia Principles Total Outstanding Principal Balance of Financing

Note:
X-1 is the year of report preparation.
X is the year of the business plan position.

b. Plan for Financing Disbursement for PPSP's UUS

Usage Type
Actual
Sep X-1
Projection
Dec X-1 June X Dec X

A. Plan for New Financing Disbursement Based on Sharia Principles:

Mudharabah
Musyarakah
Mudharabah Musytarakah
Musyarakah Mutanaqishoh
Agreements Other than Agreements as referred to in items 1 through 4, which Do Not Contradict Sharia Principles
Total Plan for New Financing Disbursement

B. Outstanding Principal Balance of Financing:

Mudharabah
Musyarakah
Mudharabah Musytarakah
Musyarakah Mutanaqishoh
Agreements Other than Agreements as referred to in items 1 through 4, which Do Not Contradict Sharia Principles
Total Outstanding Principal Balance of Financing

Note:
X-1 is the year of report preparation.
X is the year of the business plan position.

Plan for Financial Asset Securitization

No. Name of Potential Originator Creditor
Projection Nominal EBA to be Issued
1.
2.
3.

Format 2 : Plan for Development or Expansion of Business Activities

Plan for Development or Expansion of Business Activities

No. Type of Business Activity
General Description of Business Activity 1)
Time of Business Activity Implementation
Purpose of Business Activity
Correlation of Business Activity with Company Business Strategy 1) Risks over Business Activity Implementation 1) Risk Mitigation over Business Activity Implementation 1) 1. 2. 3. 4. 5.

Note:

More detailed explanations/descriptions can be attached in separate sheets.

Format 3 : Capital Plan

Capital Projections
Details
Actual
Sept X-1
Projection
Dec X-1 Jun X Dec X
Paid-in Capital - Initial
Additions
State Capital Participation
Total Paid-in Capital
Retained Earnings
Total Equity
Note:
X-1 is the year of report preparation.
X is the business plan position year.
Capital Ratio Fulfillment Plan
Component of Capital Ratio
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
Total Loans
Total Issuance of Securities 1)
Equity
Capital Ratio
Note:
X-1 is the year of report preparation.
X is the business plan position year.

Issuance of securities refers to those intended as funding sources for PPSPs.

Format 4: Funding Plan

Funding Plan Based on Funding Sources
Funding Type
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
A. New Funding Receipts:
Loans from the government
Loans from Bank Indonesia
Loans from banks
Loans from non-bank financial industries
Loans from multilateral financial institutions
Loans from other business entities
Issuance of securities
Total New Funding Receipts
B. Balance of Funding Receipts (Outstanding):
Loans from the government
Loans from Bank Indonesia
Loans from banks
Loans from non-bank financial industries
Loans from multilateral financial institutions

Funding Type
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
6. Loans from other business entities
7. Issuance of securities
Total Balance of Funding Receipts (Outstanding)

Funding Plan Based on Currency
Funding Type
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
A. New Funding Receipts:
Rupiah
Other Currencies 1)
Total New Funding Receipts 1)
B. Balance of Funding Receipts (Outstanding):
Rupiah
Other Currencies 1)
Total Balance of Funding Receipts (Outstanding) 1) Note:
X-1 is the year of report preparation.
X is the business plan position year.

converted into Rupiah.

Funding Plan Based on Funding Agreements for PPSP UUS
Funding Type
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
A. New Funding Receipts:
Mudharabah Agreement
Musytarakah Mudharabah Agreement
Musyarakah Agreement
Ijarah Agreement
Qardh Agreement
Other Funding Agreements, which are not contrary to Sharia Principles
B. Balance of Funding Receipts (Outstanding):
Mudharabah Agreement
Musytarakah Mudharabah Agreement
Musyarakah Agreement
Ijarah Agreement
Qardh Agreement
Other Funding Agreements, which are not contrary to Sharia Principles

Format 5: Plan for the Development and/or Change of Office Network or Distribution Channels Office Type Implementation Time 1) Estimated Investment/ Cost Location 2) Note 3) OPENING:

Branch Office
Branch Office UUS
ADDRESS CHANGE:
Head Office
Branch Office 4)
a) Branch Office b) Branch Office UUS
CLOSING:
Branch Office
Branch Office UUS

Note:

Filled with the month of the planned implementation time.
For locations within the DKI Jakarta region, at least the name of the DKI Jakarta province must be stated.
For locations outside the DKI Jakarta region, at least the name of the District/City must be included.
Detailed notes can be attached in a separate sheet.
Branch office address changes can only be made within 1 (one) district/city area.

Format 6: Human Resource Development Plan

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

e.g.: risk management, marketing, etc.
filled with:
a. in-house training online; b. in-house training offline;
c. out-house training online; or
d. out-house training offline.
filled with the month of training implementation, e.g.: March 2020
filled with the duration of training, e.g.: 3 days

Plan for the Use of Foreign Workers
No.
Name of Foreign Worker
(if any)/Number of Foreign Workers
Country of Origin
Position
Job Title
Field of Assignment
Duration
Name of
Accompanying Worker
Planned Knowledge Transfer Program
Reason 1)

...
Note:

filled regarding the reason for utilizing foreign workers and the reason why Indonesian workers are not/are not yet used.

Plan for the Utilization of Outsourced Workers
No.
Field
Task
Reason for Utilization
Outsourced Workers
Number of
Outsourced Workers
Name of
Outsourced Worker Supply Company
(if any)
Duration
Agreement with
Outsourced Worker Supply Company

...

Format 7
: Financial Report Projections Including Used Assumptions

Macro and Micro Assumptions Used
Assumption
Actual
Sept X-1
Projection
Dec X-1 Jun X Dec X
Macro Assumptions 1):
Gross Domestic Product Growth (%)
Reference Interest Rate
Ratio of Problematic Financing for the Property Sector
Exchange Rate
Inflation Rate (%)
Per Capita Income
Others, detailed by type of assumption
Micro Assumptions:
Financing Growth (%)
Funding Growth (%)
Interest Rate/Yield on Funding (%)
Interest Rate/Yield on Financing (%)
Interest Rate/Yield on Asset-Backed Securities Issued (%)
Housing Backlog
Ratio of Problematic Securitization Mortgage Receivables

Assumption
Actual
Sept X-1
Projection
Dec X-1 Jun X Dec X
8. Ratio of Problematic Housing Financing Receivables
9. Others, detailed by type of assumption 2)
Note:
X-1 is the year of report preparation.
X is the business plan position year.

in case assumptions per semester are not available, annual assumptions can be used and can be accompanied by an explanation regarding the source of the government agency that is the basis for the macro assumptions used.
other micro assumptions, such as mortgage financing growth.

Information Regarding the Financial Condition of PPSP
a. Projected Financial Position Report

Projected Financial Position Report of PPSP
Items 1)
Actual
Sep X-1
Projection
Dec X-1 Sep X-1 Dec X-1
ASSETS

Cash and Cash Equivalents
Time Deposits
Securities
a. Government Bonds b. EBA
c. Other securities
Loans Granted
a. Commercial b. Program
c. Others
Financing based on Sharia Principles
a. Mudharabah b. Musyarakah
c. Mudharabah Musytarakah
d. Musyarakah Mutanaqishoh

Items 1)
Actual
Sep X-1
Projection
Dec X-1 Sep X-1 Dec X-1 e. Agreements other than those referred to in letters a through d, which are not contrary to Sharia Principles
6. Guarantees and Credit Support
7. Trade Receivables
8. Other Receivables
9. Advance Payments
10. Prepaid Expenses
11. Fixed Assets
12. Intangible Assets
13. Deferred Tax Assets – Net
14. Prepaid Taxes
15. Miscellaneous Assets
Total Assets
LIABILITIES

Expenses to be Paid
Tax Payables
Bank Payables

Items 1)
Actual
Sep X-1
Projection
Dec X-1 Sep X-1 Dec X-1
4. Securities
a. Bonds b. Commercial Paper
c. Medium Term Notes
d. Other Securities
5. Other Payables
6. Employee Benefit Liabilities
Total Liabilities
Temporary Syirkah Funds
7. Mudharabah Sukuk
Total Temporary Syirkah Funds
EQUITY

Paid-in Capital
Advance Payment of Capital
(Losses)/Unrealized Profits from Fair Value Changes of Securities Available for Sale – Net
After Tax
Profit Balance

Items 1)
Actual
Sep X-1
Projection
Dec X-1 Sep X-1 Dec X-1
Total Equity
Total Liabilities, Temporary Syirkah Funds, and Equity Note:
X-1 is the year of report preparation.
X is the business plan position year.

the method of calculating items in the financial position report, which is the same as items in monthly reports, refers to the Financial Services Authority Circular Letter regarding monthly PPSP reports.
Projected Financial Position Report of UUS from PPSP
Items 1)
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
ASSETS

Cash and Cash Equivalents
Time Deposits
Securities
a. Government Bonds b. EBA
c. Other securities
Financing based on Sharia Principles
a. Mudharabah b. Musyarakah
c. Mudharabah Musytarakah
d. Musyarakah Mutanaqishoh e. Agreements other than those referred to in letters a through d, which are not contrary to Sharia Principles
Guarantees and Financing Support
Trade Receivables
Other Receivables

Items 1)
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
8. Advance Payments
9. Prepaid Expenses
10. Fixed Assets
11. Intangible Assets
12. Deferred Tax Assets – Net
13. Prepaid Taxes
14. Miscellaneous Assets
Total Assets
LIABILITIES

Expenses to be Paid
Tax Payables
Bank Funding
Securities
a. Bonds b. Commercial Paper
c. Medium Term Notes
d. Other Securities
Other Liabilities

Items 1)
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
6. Employee Benefit Liabilities
Total Liabilities
Temporary Syirkah Funds
7. Mudharabah Sukuk
Total Temporary Syirkah Funds
EQUITY

Working Capital
Advance Payment of Working Capital
(Losses)/Unrealized Profits from Fair Value Changes of Securities Available for Sale – Net
After Tax
Profit Balance
Total Equity
Total Liabilities, Temporary Syirkah Funds, and Equity Note:
X-1 is the year of report preparation.
X is the business plan position year.

the method of calculating items in the financial position report, which is the same as items in monthly reports, refers to the Financial Services Authority Circular Letter regarding monthly PPSP reports.

b. Projected Comprehensive Income Statement

Projected Comprehensive Income Statement of PPSP
Items 1)
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
INCOME

Interest Income and Sharia Income
Securitization Income
a. Credit Support Commission b. Securitization Administrator
Education and Training
(Losses)/Profits from Financial Instruments Traded
Other Income - Net
Total Income
EXPENSES
Interest and Profit Sharing Expenses
Final Tax Expenses
General and Administrative
Salaries and Allowances
Education and Training

Items 1)
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
Total Expenses
PROFIT BEFORE INCOME TAX
INCOME TAX EXPENSE
NET PROFIT
OTHER COMPREHENSIVE INCOME

Items that will not be reclassified to
Profit and Loss a. Remeasurement of Employee Benefit Liabilities b. Related Income Tax
Items that will be reclassified to Profit
and Loss a. Fair Value Changes of Securities Available for Sale b. Related Income Tax
Other Comprehensive Income, Net
After Tax
COMPREHENSIVE PROFIT (LOSS)

Items 1)
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
TOTAL COMPREHENSIVE INCOME FOR THE
CURRENT YEAR
EARNINGS PER SHARE OF THE ENTITY (in full value) Note:
X-1 is the year of report preparation.
X is the business plan position year.

the method of calculating items in the comprehensive income statement, which is the same as items in monthly reports, refers to the Financial Services Authority Circular Letter regarding monthly PPSP reports.
Projected Comprehensive Income Statement of UUS from PPSP
Items 1)
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
INCOME

Sharia Income
Securitization Income
a. Credit Support Commission b. Securitization Administrator
Education and Training
(Losses)/Profits from Financial Instruments Traded
Other Income - Net
Total Income
EXPENSES
Profit Sharing Expenses
Final Tax Expenses
General and Administrative
Salaries and Allowances
Education and Training
Total Expenses

Items 1)
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
PROFIT BEFORE INCOME TAX
INCOME TAX EXPENSE
NET PROFIT
OTHER COMPREHENSIVE INCOME

Items that will not be reclassified to
Profit and Loss a. Remeasurement of Employee Benefit Liabilities b. Related Income Tax
Items that will be reclassified to Profit
and Loss a. Fair Value Changes of Securities Available for Sale b. Related Income Tax
Other Comprehensive Income, Net
After Tax
COMPREHENSIVE PROFIT (LOSS)
TOTAL COMPREHENSIVE INCOME FOR THE
CURRENT YEAR

Items 1)
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
EARNINGS PER SHARE OF THE ENTITY (in full value) Note:
X-1 is the year of report preparation.
X is the business plan position year.

the method of calculating items in the comprehensive income statement, which is the same as items in monthly reports, refers to the Financial Services Authority Circular Letter regarding monthly PPSP reports.

c. Projected Cash Flow Statement

Projected Cash Flow Statement of PPSP
Items 1)
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
Cash Flows from Operating Activities

Cash Receipts from:
a. Interest Income from Loans Granted and Sharia Income b. Interest Income from Time Deposits
c. Interest Income from Government Bonds (SUN)
d. Interest Income from Asset-Backed Securities (EBA) e. Receipt of Loan Installments f. Receipt of EBA Principal Installments g. EBA Fee Receipt h. Disposal of EBA
i. Receipt of Guarantees and Credit Support
j. Receipt from Other Results

Items 1)
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
2. Cash Outflows For:
a. Disbursement of Loans Granted b. Placement in EBA
c. Bond Interest
d. Profit Sharing of Mudharabah Sukuk e. Bank Loan Interest f. Placement of Credit Support Funds g. Salaries and Allowances h. General, Administrative, and Others
i. Other Income Taxes
j. Corporate Income Tax
Net Cash Used for Operating Activities
Cash Flows from Investing Activities

Time Deposits
Purchase of Fixed Assets
Purchase of Intangible Assets
Net Cash Used for Investing Activities
Cash Flows from Financing Activities

Items 1)
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X

Receipt of Bond Issuance Results
Advance Payment of Capital
Receipt of Short-Term Credit Withdrawal Results
Receipt of Mudharabah Sukuk Issuance Results
Payment of Bond Principal
Payment of Cash Dividends
Net Cash Obtained from Financing Activities
(Decrease)/Increase in Cash and Cash Equivalents Cash and Cash Equivalents Balance - Beginning Cash and Cash Equivalents Balance - Ending Note:
X-1 is the year of report preparation.
X is the business plan position year.

the method of calculating cash flow items refers to the Financial Services Authority Circular Letter regarding monthly PPSP reports.
Projected Cash Flow Statement of UUS from PPSP
Items 1)
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
Cash Flows from Operating Activities

Cash Receipts from:
a. Sharia Income b. Yield Income from Time Deposits
c. Yield Income from Government Bonds (SUN)
d. Yield Income from Asset-Backed Securities (EBA) e. Receipt of Financing Installments f. Receipt of EBA Principal Installments g. Yield Receipt from EBA h. Disposal of EBA
i. Receipt of Guarantees and Financing Support
j. Receipt from Other Results
Cash Outflows For:
a. Disbursement of Financing Granted

Items 1)
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X b. Placement in EBA
c. Profit Sharing of Mudharabah Sukuk
d. Yield Income from Bank Funding e. Placement of Financing Support Funds f. Salaries and Allowances g. General, Administrative, and Others h. Other Income Taxes
i. Corporate Income Tax
Net Cash Used for Operating Activities
Cash Flows from Investing Activities

Time Deposits
Purchase of Fixed Assets
Purchase of Intangible Assets
Net Cash Used for Investing Activities
Cash Flows from Financing Activities
Advance Payment of Capital
Receipt of Short-Term Credit Withdrawal Results

Items 1)
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
3. Receipt of Mudharabah Sukuk Issuance Results
4. Payment of Sukuk Principal
Net Cash Obtained from Financing Activities
(Decrease)/Increase in Cash and Cash Equivalents Cash and Cash Equivalents Balance – Beginning Cash and Cash Equivalents Balance – Ending Note:
X-1 is the year of report preparation.
X is the business plan position year.

the method of calculating cash flow items refers to the Financial Services Authority Circular Letter regarding monthly PPSP reports.

d. Asset and Liability Matching Analysis Report

Asset and Liability Matching Analysis Report of PPSP
Details
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
Assets ≤ 3 Months
Assets >3 - ≤6 Months
Assets >6 Months - ≤1 Year
Assets >1 - ≤5 Years
Assets >5 - ≤10 Years
Assets >10 years
Total Assets
Liabilities ≤ 3 Months
Liabilities >3 - ≤6 Months
Liabilities >6 Months - ≤1 Year
Liabilities >1 - ≤5 Years
Liabilities >5 - ≤10 Years
Liabilities >10 years
Total Liabilities
Ratio of Assets to Liabilities ≤ 3 Months
Ratio of Assets to Liabilities >3 - ≤6 Months

Details
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
Ratio of Assets to Liabilities >6 Months - ≤1
Year
Ratio of Assets to Liabilities >1 - ≤5 Years
Ratio of Assets to Liabilities >5 - ≤10 Years
Ratio of Assets to Liabilities >10 years
Ratio of Total Assets to Liabilities 1)
Note:

In percentage
Asset and Liability Matching Analysis Report of UUS from PPSP
Details
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
Assets ≤ 3 Months
Assets >3 - ≤6 Months
Assets >6 Months - ≤1 Year
Assets >1 - ≤5 Years
Assets >5 - ≤10 Years
Assets >10 years
Total Assets
Liabilities ≤ 3 Months
Liabilities >3 - ≤6 Months
Liabilities >6 Months - ≤1 Year
Liabilities >1 - ≤5 Years
Liabilities >5 - ≤10 Years
Liabilities >10 years
Total Liabilities
Ratio of Assets to Liabilities ≤ 3 Months
Ratio of Assets to Liabilities >3 - ≤6 Months
Ratio of Assets to Liabilities >6 Months - ≤1
Year

Details
Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
Ratio of Assets to Liabilities >1 - ≤5 Years
Ratio of Assets to Liabilities >5 - ≤10 Years
Ratio of Assets to Liabilities >10 years
Ratio of Total Assets to Liabilities 1)
Note:

In percentage

Format 8: Projection of Ratios and Specific Items Ratios and Specific Items 1) Actual Sept X-1 Projection Dec X-1 Jun X Dec X

Capital Ratio/gearing
ratio (times)
Current Ratio (%)
Cash Ratio (%)
Gross NPL (%)
Net NPL (%)
ROE (%)
ROA (%)
BOPO (%)

Note:
X-1 is the year of report preparation.
X is the business plan position year.

the method of calculating ratios and specific items refers to the Financial Services Authority Regulation regarding PPSPs.

Format 9: Direct Investment Plan
Details of Direct Investment Plan
Company Name Actual
Sep X-1
Projection
Dec X-1 Jun X Dec X
Note:
X-1 is the year of report preparation.
X is the business plan position year.

Format 10: Business Plan Realization Report a. Filled with an explanation regarding the achievement of the Business Plan, including the achievement of the Business Plan and the comparison of the plan and its realization, which must at least include:

realization of business activities as referred to in format 1;
realization of the plan for the development or expansion of business activities as referred to in format 2;
realization of the funding plan as referred to in format 4;
realization of the human resource development plan as referred to in format 6; and
realization of the financial report projections including the assumptions used as referred to in format 7.
b. Filled with an explanation regarding deviations in the Business Plan realization related to the scope of realization in letter a, such as causes and obstacles faced.
c. Filled with follow-up efforts that have been and will be carried out 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 8. e. Filled with an explanation regarding the achievement of other information in the Business Plan and the comparison of the plan and its realization, which must at least include:
realization of the capital plan as referred to in format 3;
realization of the plan for the development and/or change of office network or distribution channels as referred to in format 5; and
realization of the direct investment plan as referred to in format 9.
Acknowledged by:
Board of Directors: (signature and clear name) Board of Directors: (signature and clear name) and so on... and so on...

This copy is consistent with the original
Legal Director 1
Legal Department signed
Mufli Asmawidjaja
Format 11: Business Plan Supervision Report
(Filled with the Board of Commissioners' assessment of the implementation of the Business Plan, consisting of quantitative and qualitative assessments of the Business Plan realization, assessments of good corporate governance factors, risk profiles, profitability, and capital, as well as efforts to improve PPSP performance, if according to the assessment there is a decline in PPSP 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 July 1, 2020 EXECUTIVE HEAD OF SUPERVISOR INSURANCE, PENSION FUNDS, FINANCING INSTITUTIONS, AND OTHER FINANCIAL SERVICE INSTITUTIONS FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA, signed RISWINANDI

Business Plan of Secondary Housing Financing Companies

Lineage: In force