To:
Executive Director of the Export Financing Institution (LPEI)

COPIED

CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY OF THE REPUBLIC OF INDONESIA NUMBER 20 /SEOJK.05/2020

CONCERNING
THE BUSINESS PLAN OF THE EXPORT FINANCING INSTITUTION

In accordance with 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 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 business plan realization, and reporting the business plan supervision of the Export Financing Institution in the Financial Services Authority Circular Letter as follows:

I. GENERAL PROVISIONS

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

1. Export Financing Institution, hereinafter abbreviated as LPEI, is the Export Financing Institution as referred to in Law Number 2 of 2009 concerning the Export Financing Institution.

2. National Export Financing is a facility provided to business entities, including individuals, in order to encourage national exports.

3. Financing is credit and/or financing based on Sharia principles provided by LPEI.

4. Guarantee is the provision of guarantee facilities to cover the payment of financial obligations of the guaranteed party in the event that the guaranteed party cannot fulfill contractual obligations to its creditors.

5. Insurance is the provision of facilities in the form of compensation for losses arising from uncertain events.

6. Sharia Principles are the core rules based on Islamic law that serve as the foundation for agreements between LPEI and other parties in carrying out National Export Financing activities.

7. Business Plan is a written document describing LPEI's business development plans and activities for a specific period, as well as strategies to realize these plans in accordance with established targets and timelines.

8. Board of Directors is the Board of Directors as referred to in Law Number 2 of 2009 concerning the Export Financing Institution.

9. Executive Director is the Executive Director as referred to in Law Number 2 of 2009 concerning the Export Financing Institution.

10. Business Plan Realization Report is a report prepared by the Executive Director regarding the realization of the Business Plan up to a certain period.

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

II. SCOPE OF THE BUSINESS PLAN

1. The scope of LPEI's 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. management policies and plans, including:

   1. business activity plans;
   2. business activity development or expansion plans;
   3. capital plans;
   4. financing plans;
   5. plans for developing and/or changing office networks or distribution channels; and
   6. plans for organizational development, human resources, and/or information technology;
      e. financial statement projections along with the assumptions used; f. projections of ratios and specific items; and g. other information.

2. The scope of the Business Plan as referred to in paragraph 1 must also include a specific Business Plan for business activities based on Sharia principles, which is an integral part of the Business Plan.

3. The executive summary as referred to in paragraph 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. strategic plans and steps to be taken by LPEI in the short term (1 one-year period) and long term (5 five-year period); b. key performance indicators;
   c. key financial indicators; and
   d. description of short-term targets (1 one-year period).

4. The executive summary as referred to in paragraph 3 is prepared in accordance with Format 1 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

5. The evaluation of the implementation of the previous period's Business Plan as referred to in paragraph 1 letter b contains an explanation at least regarding:
   a. the general economic conditions of the previous Business Plan period; b. comparison between the previous period's Business Plan and its realization;
   c. achievement of the previous period's Business Plan performance, including:

   1. financial performance; and
   2. non-financial performance;
      d. implementation of special assignments from the Government to LPEI during the previous Business Plan period; e. constraints and problems faced during the previous period; and f. measures taken to address the constraints and problems.

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

7. The vision, mission, and business strategy as referred to in paragraph 1 letter c contains an explanation regarding:
   a. vision, which is the goal LPEI aims to achieve in the long term; b. mission, which is the method used in the short term to achieve goals;
   c. business strategy, which is LPEI's strategy and policy direction in facing business challenges and societal dynamics in the future, at least including:

   1. analysis of LPEI's position in facing business challenges, including information on internal and external factors affecting LPEI's operational activities;
   2. LPEI's policy direction, including general information on LPEI policies established by management for the future development of LPEI's business; and
   3. business development strategy, including among others information on:
      a) strategic steps to achieve LPEI's established business goals; b) explanation of organizational development and information system technology strategies; and c) strategies to anticipate changes in external conditions.

8. In preparing the analysis of LPEI's position in facing business challenges as referred to in paragraph 7 letter c number 1), LPEI may use relevant strategic planning analysis methods.

9. The vision, mission, and business strategy as referred to in paragraph 7 is prepared in accordance with Format 3 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

10. The business activity plan as referred to in paragraph 1 letter d number 1) contains an explanation of LPEI's business activity plans, at least including:
    a. Financing business activity plans; b. Guarantee business activity plans; and
    c. Insurance business activity plans.

11. The Financing business activity plan as referred to in paragraph 10 letter a consists of:
    a. Working capital financing; and/or b. Investment financing.

12. The Guarantee business activity plan as referred to in paragraph 10 letter b consists of:
    a. Guarantees for Indonesian exporters for payments received from buyers of goods and/or services abroad; b. Guarantees for Indonesian importers of goods and services abroad for payments made or to be made to Indonesian exporters for financing export contracts for the sale of goods and/or services or fulfillment of work or services performed by an Indonesian company;
    c. Guarantees for banks that are partners in providing financing for export transactions granted to Indonesian exporters; and/or
    d. Guarantees in the context of tenders related to the implementation of projects that are wholly or partially activities supporting exports.

13. The Insurance business activity plan as referred to in paragraph 10 letter c consists of:
    a. Insurance against export failure risks; b. Insurance against default risks;
    c. Insurance against investments made by Indonesian companies abroad; and/or
    d. Insurance against political risks in a country that is an export destination.

14. The business activity plan as referred to in paragraph 10 is prepared in accordance with Format 4 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

15. The business activity development or expansion plan as referred to in paragraph 1 letter d number 2) at least includes:
    a. plans for new products and activities; and b. service development plans.

16. The business activity development or expansion plan as referred to in paragraph 15 is prepared in accordance with Format 5 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

17. The capital plan as referred to in paragraph 1 letter d number 3) at least includes information regarding capital projections.

18. The capital plan as referred to in paragraph 17 is prepared in accordance with Format 6 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

19. The financing plan as referred to in paragraph 1 letter d number 4) at least includes financing plans based on:
    a. funding sources; and b. currency.

20. The financing plan as referred to in paragraph 19 is prepared in accordance with Format 7 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

21. The plan for developing and/or changing office networks or distribution channels as referred to in paragraph 1 letter d number 5) at least includes:
    a. plans for opening regional offices and/or marketing offices; b. plans for changing the addresses of headquarters, regional offices, and/or marketing offices; and
    c. plans for closing regional offices and/or marketing offices.

22. The plan for developing and/or changing office networks or distribution channels as referred to in paragraph 21 is prepared in accordance with Format 8 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

23. The organizational, human resources, and/or information technology development plan as referred to in paragraph 1 letter d number 6) at least includes:
    a. organizational development plans, including:

1. plans for establishing work units/divisions;
2. plans for changing work units/divisions; and
3. plans for establishing committees;
   b. human resources development plans, including:
4. human resources fulfillment plans:
   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; and
   c. information technology development plans, which are fundamental plans for the development and procurement of information technology, including information on the costs of development and maintenance of information technology, including among others:
6. significant changes to LPEI's information technology configuration or core applications;
7. procurement of new core applications;
8. cooperation with information technology service providers; and/or
9. development and procurement of other fundamental information technology that can add and/or increase LPEI's risks.

24. The organizational, human resources, and/or information technology development plan as referred to in paragraph 23 is prepared in accordance with Format 9 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

25. Financial statement projections along with the assumptions used, including business activities based on Sharia principles as referred to in paragraph 1 letter e, at least include:
    a. assumptions used in preparing the financial statement projections, including:

1. macro assumptions; and
2. micro assumptions.
   b. Information on LPEI's financial conditions, including:
3. projected financial position statements;
4. projected comprehensive income statements;
5. projected cash flow statements; and
6. administrative accounts.

26. The financial statement projections along with the assumptions used as referred to in paragraph 25 are prepared in accordance with Format 10 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

27. Projections of ratios and specific items as referred to in paragraph 1 letter f are prepared in accordance with Format 11 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

28. Business Plans containing:
    a. key financial indicators in the executive summary as referred to in paragraph 3 letter c; b. business activity plans as referred to in paragraph 10;
    c. capital plans as referred to in paragraph 17;
    d. financing plans as referred to in paragraph 19; e. financial statement projections along with the assumptions used as referred to in paragraph 25; and f. projections of ratios and specific items as referred to in paragraph 27, are 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 1 (one) year ahead presented quarterly; and
4. in millions of Rupiah.

29. Other information as referred to in paragraph 1 letter g at least includes information that needs to be submitted because it affects LPEI's business activities, but is not included in the scope of the Business Plan as referred to in paragraph 1 letters a through f, including among others:
    a. sustainable finance action plans; b. debt write-off plans;
    c. special assignment plans from the Government to LPEI;
    d. fund placement plans; and e. risk management implementation.

30. The sustainable finance action plan as referred to in paragraph 29 letter a is prepared in accordance with formats regulated in Financial Services Authority Regulations concerning the implementation of sustainable finance for financial service institutions, issuers, and public companies.

31. The debt write-off plan as referred to in paragraph 29 letter b is prepared in accordance with Format 12 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

32. The special assignment plan from the Government to LPEI as referred to in paragraph 29 letter c, at least includes:

1. sources of funds for special assignments;
2. plans for fund usage;
3. objectives of special assignments;
4. benefits of special assignments; and
5. financial projections.

33. The special assignment plan from the Government to LPEI as referred to in paragraph 32 is prepared in accordance with Format 13 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

34. The fund placement plan as referred to in paragraph 29 letter d is prepared in accordance with Format 14 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

35. The risk management implementation as referred to in paragraph 29 letter e at least includes:
    a. risk factors; b. risk management processes;
    c. risk profiles; and
    d. implementation of good governance.

36. The risk management implementation as referred to in paragraph 35 is prepared in accordance with Format 15 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

37. Descriptions of the scope of the business plan including:
    a. business activity plans as referred to in paragraph 1 letter d number 1); b. business activity development or expansion plans as referred to in paragraph 1 letter d number 2);
    c. capital plans as referred to in paragraph 1 letter d number 3);
    d. financing plans as referred to in paragraph 1 letter d number 4); e. plans for developing and/or changing office networks or distribution channels as referred to in paragraph 1 letter d number 5); f. organizational, human resources, and/or information technology development plans as referred to in paragraph 1 letter d number 6); g. debt write-off plans as referred to in paragraph 29 letter b; h. government special assignment plans as referred to in paragraph 29 letter c; and
    i. fund placement plans as referred to in paragraph 29 letter d.
    contain also descriptions regarding:

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

38. In the event that there is other information that needs to be submitted by LPEI in the Business Plan, but no format is regulated in this Financial Services Authority Circular Letter, the format for submitting such information is prepared based on LPEI's needs.

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

1. 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; b. explanations regarding deviations in the realization of the Business Plan, namely explanations regarding the causes and constraints 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 of the Business Plan;
   d. financial ratios and specific items; and e. other information, which includes among others 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 also include realization reports for business activities based on Sharia principles, which are an integral part of the Business Plan Realization Report.

3. The Business Plan Realization Report must be signed by the Executive Director.

4. The Business Plan Realization Report is prepared in accordance with Format 16 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

5. The Business Plan Supervision Report at least includes the Board of Directors' assessment regarding:
   a. the realization of the Business Plan quantitatively and qualitatively; b. factors affecting LPEI's performance; and
   c. efforts to improve LPEI's performance.

6. The Business Plan Supervision Report as referred to in paragraph 5 must also include specific supervision reports for business activities based on Sharia principles, which are an integral part of the Business Plan Supervision Report.

7. The Business Plan Supervision Report must be signed by the Board of Directors.

8. The Business Plan Supervision Report is prepared in accordance with Format 17 as contained in the Appendix, which is an integral part of this Financial Services Authority Circular Letter.

IV. PROCEDURES FOR SUBMITTING THE BUSINESS PLAN, ADJUSTING THE BUSINESS PLAN, CHANGING THE BUSINESS PLAN, REPORTING THE BUSINESS PLAN REALIZATION, AND REPORTING THE BUSINESS PLAN SUPERVISION

1. LPEI must submit the Business Plan, adjusted Business Plan, changed Business Plan, Business Plan Realization Report, and Business Plan Supervision Report to the Financial Services Authority online through the Financial Services Authority's data communication network system.

2. LPEI must ensure that the Business Plan, adjusted Business Plan, changed Business Plan, Business Plan Realization Report, and Business Plan Supervision Report submitted online as referred to in paragraph 1 are true and identical to the printed Business Plan documents.

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

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

5. The submission of documents offline as referred to in paragraph 3 must be submitted in electronic data (softcopy) form using media such as compact disc (CD) or other electronic data storage media.

6. The submission of documents as referred to in paragraph 5 must be accompanied by a printed (hardcopy) cover letter signed by the Executive Director.

7. The submission of the cover letter and the Business Plan, adjusted Business Plan, changed Business Plan, Business Plan Realization Report, and Business Plan Supervision Report offline as referred to in paragraph 3 is addressed to:
   Executive Director of Insurance, Pension Funds, Financing Institutions, and Other Financial Service Institutions Supervision Financial Services Authority u.p.

1. Director of Special Financial Institution Supervision; and
2. Director of Sharia Financial Institutions and Business Services
   Wisma Mulia Building 2, 15th Floor
   Jalan Jenderal Gatot Subroto Kav. 40
   Jakarta 12710.

8. In the event of changes to the address of the Financial Services Authority office for submitting reports as referred to in paragraph 7, the Financial Services Authority provides notification regarding the address change via letter or announcement.

9. LPEI is deemed to have submitted the Business Plan, adjusted Business Plan, changed Business Plan, Business Plan Realization Report, and Business Plan Supervision Report 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.
Head of the Legislation and Legal Information Division Legal Directorate 1 Legal Department signed Rifki Ramadansyah

V. CLOSING

The provisions in this Financial Services Authority Circular Letter shall take effect on the date of issuance.

Issued in Jakarta on October 13, 2020

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

APPENDIX
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY OF THE REPUBLIC OF INDONESIA NUMBER 20 /SEOJK.05/2020 CONCERNING THE BUSINESS PLAN OF THE EXPORT FINANCING INSTITUTION

TABLE OF CONTENTS

EXPORT FINANCING INSTITUTION BUSINESS PLAN FORMAT

Format 1: Executive Summary 3
Format 2: Evaluation of Previous Business Plan Implementation Format 3: Vision, Mission, and Business Strategy 7 Format 4: LPEI Business Activity Plan 8 Format 5: Business Activity Development or Expansion Plan 16 Format 6: Capital Plan 19 Format 7: Funding Plan 21 Format 8: Office Network and/or Distribution Channel Development and/or Change Plan Format 9: Organization, Human Resources, and/or Information Technology Development Plan Format 10: Financial Statement Projections and Assumptions Used Format 11: Ratio and Specific Item Projections 38 Format 12: Loan Write-off Plan 39 Format 13: Special Government Assignments to LPEI Format 14: Fund Placement Plan 41 Format 15: Risk Management Implementation 42 Format 16: Business Plan Realization Report 43 Format 17: Business Plan Supervision Report 44

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Format 1: Executive Summary

1. Strategic plans and steps taken by LPEI
   a) Short-term strategic plans and steps for a 1 (one) year period.
   1) ...
   2) ...
   3) etc.
   b) Long-term strategic plans and steps for a 5 (five) year period.
   1) ...
   2) ...
   3) etc.

Note:
Strategic steps for business activities based on Sharia Principles are described briefly.

2. Key performance indicators
   (filled with a description of success benchmarks for performance achievement, including the financial perspective, stakeholder perspective, internal business process perspective, and learning and growth perspective)

Note:
The format can be adjusted according to needs.

3. Key financial indicators

Review:

a. Key financial indicator table

No.	Financial Indicator	Actual Sept X-1	Projection Dec X-1	Mar X	Jun X	Sep X	Dec X
1.	Non-Performing Financing (NPF) Ratio
	a) Gross
	b) Net
2.	Capital Adequacy Ratio (CAR)
3.	Financing to Asset Ratio
4.	Net Interest Margin (NIM)
5.	Profitability
	a) Return on Asset
	b) Return on Equity
	c) Operating Expenses to Operating Income
6.	Claim Ratio
	a) Insurance
	b) Guarantee
7.	Liquidity Ratio (Current Ratio)
8.	Gearing Ratio

Note:
X-1: Year of report preparation.
X: First year of the Business Plan position.

b. Description of LPEI's financial condition
(describe LPEI's financial condition along with projections reflected in the key financial indicators, and a brief description of the financial condition of business activities based on Sharia Principles)

4. Description of short-term targets for a 1 (one) year period *)
5. …
6. …
7. etc.

Note:
*) includes among others total financing disbursement, total guarantee ceiling, and total insurance coverage, including activities based on Sharia Principles, etc.

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Format 2: Evaluation of Previous Business Plan Implementation

Evaluation of the implementation of the previous Business Plan period

a. General overview of the economic conditions during the previous Business Plan period;
..................................................................................................................
..............................................................................................................

b. Comparison between the previous Business Plan period and its realization;
..................................................................................................................
..............................................................................................................

c. Achievement of the previous Business Plan period's performance, including:

1. financial performance;
   ............................................................................................................
2. non-financial performance;
   ............................................................................................................

d. Implementation of special Government assignments to LPEI during the previous Business Plan period;
..................................................................................................................
.............................................................................................................

e. Constraints and problems faced during the previous period; and
..................................................................................................................
.............................................................................................................

f. Measures taken to overcome those constraints and problems.
..................................................................................................................
.............................................................................................................

Note:
Includes a brief description of business activities based on Sharia Principles.

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Format 3: Vision, Mission, and Business Strategy

1. Vision
   ..................................................................................................................
   ..................................................................................................................

2. Mission
   ..................................................................................................................
   ..................................................................................................................

3. Business Strategy*)
   a. Analysis of LPEI's position in facing business challenges;
   ..................................................................................................................
   ..................................................................................................................
   b. LPEI's policy direction
   ..................................................................................................................
   ..................................................................................................................
   c. Business development strategy
   ..................................................................................................................
   ..................................................................................................................

Note:
Includes a brief description of business activities based on Sharia Principles.

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Format 4: LPEI Business Activity Plan

A. Financing Business Activity Plan

1. Financing business activity plan table

Financing Type	Number of Debtors 2)	Actual Sept X-1 3)	Projection Dec X-1	Mar X	Jun X	Sep X	Dec X
a. Working Capital Financing
i. To core borrowers 1)
ii. By economic sector
- ...
- etc.
iii. By location
- ...
- etc.
b. Investment Financing
i. To core borrowers 1)
ii. By economic sector
- ...
- etc.
iii. By location
- ...
- etc.
Total
% Total Financing against Equity

Note:
X-1: Year of report preparation.
X: First year of the Business Plan position.

1. The financing ceiling amount is presented in aggregate against the number of specific debtors as needed.
2. The number of debtors is presented cumulatively.
3. Financing Ceiling.

2. Reasons/considerations and strategy
   a. Reasons/considerations
   (filled with reasons/considerations in compiling the financing plan, whether based on business size, government assignment, or non-government assignment) b. Strategy (filled with strategies to realize the Financing plan)

B. Guarantee Business Activity Plan

1. Guarantee business activity plan table

Guarantee Type	Number of Debtors 1)	Actual Sept X-1 2)	Projection Dec X-1	Mar X	Jun X	Sep X	Dec X
a. Guarantee for Exporters
i. By economic sector
- ...
- etc.
ii. By location
- ...
- etc.
b. Guarantee for Importers
i. By economic sector
- ...
- etc.
ii. By location
- ...
- etc.
c. Guarantee for banks
d. Tender guarantee
Total

Note:
X-1: Year of report preparation.
X: First year of the Business Plan position.

1. The number of debtors is presented cumulatively.
2. Guarantee Ceiling.

2. Reasons/considerations and strategy
   a. Reasons/considerations
   (filled with reasons/considerations in compiling the guarantee plan, whether based on business size, government assignment, or non-government assignment) b. Strategy (filled with strategies to realize the Guarantee plan)

C. Insurance Business Activity Plan

1. Insurance business activity plan table

Insurance Type 1)	Number of Insured 2)	Actual Sept X-1 3)	Projection Dec X-1	Mar X	Jun X	Sep X	Dec X
a. Insurance for export failure risk
- …
- etc.
b. Insurance for default risk
- …
- etc.
c. Insurance for investments made by Indonesian companies abroad
- …
- etc.
d. Insurance for political risk in an export destination country
- …
- etc.
Total

Note:
X-1: Year of report preparation.
X: First year of the Business Plan position.

1. Insurance types are presented according to the dominant risk insured, can be detailed per product type.
2. The number of insured is presented cumulatively.
3. Insured value.

2. Reasons/considerations and strategy
   a. Reasons/considerations
   (filled with reasons/considerations in compiling the insurance business activity plan, whether based on business size, government assignment, or non-government assignment) b. Strategy (filled with strategies to realize the insurance business activity plan)

D. Business Activity Table Based on Sharia Principles

Activity Type	Actual Sept X-1	Projection Dec X-1	Mar X	Jun X	Sep X	Dec X
a. Financing business activities
1. Contract ...
2. etc.
b. Guarantee business activities
1. Contract …
2. etc.
c. Insurance business activities
1. Contract …
2. etc.
Total

Note:
X-1: Year of report preparation.
X: First year of the Business Plan position.

3. Reasons/considerations and strategy
   c. Reasons/considerations
   (filled with reasons/considerations in compiling the business activity plan based on Sharia Principles, whether based on business size, government assignment, or non-government assignment) d. Strategy (filled with strategies to realize the business activity plan based on Sharia Principles)

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Format 5: Business Activity Development or Expansion Plan

1. Business Activity Development or Expansion Plan
   a. New product and activity plan table*)

No.	Product/Activity Type	General Description of Business Activity)	Implementation Time	Business Activity Objective)	Ceiling	Number of Debtors/Customers	Income	Business Activity Relevance to LPEI Business Strategy)	Relevance to LPEI	Relevance to Insured/Debtor/Customer	Note

Note:
*) including business activities based on Sharia Principles ) more detailed explanations/descriptions can be attached in a separate sheet.

b. Reasons/considerations  
(filled with reasons/considerations in compiling the plan for implementing new business activities)  
c. Strategy  
(filled with strategies to realize the plan for implementing new business activities)

2. Service Development Plan
a. Service development plan table

No.	Service Type *)	General Description *)	Implementation Time	Service Objective *)	Service Relevance to LPEI Business Strategy *)	Relevance to LPEI	Relevance to Partners	Note

Note:
*) more detailed explanations/descriptions can be attached in a separate sheet.

b. Reasons/considerations  
(filled with reasons/considerations in compiling the service development plan)  
c. Strategy  
(filled with strategies to realize the service development plan)

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Format 6: Capital Plan

1. Capital Plan
   a. Capital projection table

Description	Actual 1) Sept X-1	Projection 1) Dec X-1	Mar X	Jun X	Sep X	Dec X
Initial Paid-up Capital
Planned New Capital Addition
Total Paid-up Capital
Retained Earnings 1)
Total Equity

Note:
X-1: Year of report preparation.
X: First year of the Business Plan position.

1. The nominal value stated is the accumulated nominal value.

   b. Reasons/considerations
   (filled with reasons/considerations in compiling the capital plan)
   c. Strategy
   (filled with strategies to realize the capital plan)

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Format 7: Funding Plan

1. Funding Plan based on Funding Sources *)
   a. Funding plan table based on funding sources

Funding Type	Actual Sep X-1	Projection Dec X-1	Mar X	Jun X	Sep X	Dec X
A. New Funding Receipts:
1. Issuance of securities
2. Short-term, medium-term, and/or long-term loans sourced from
a. foreign governments
b. multilateral institutions
c. banks and financial and financing institutions, both domestic and foreign; and/or
d. Government;
3. Grants.
4. Others (specify)
Total New Funding Receipts
B. Funding Receipts (Outstanding):
1. Issuance of securities
2. Short-term, medium-term, and/or long-term loans sourced from
a. foreign governments
b. multilateral institutions
c. banks and financial and financing institutions, both domestic and foreign; and/or
d. Government;
3. Grants.
4. Others (specify)
Total Funding Receipts (Outstanding)

Note:
X-1: Year of report preparation.
X: First year of the Business Plan position.

*) Sharia-based funding can be described in a separate paragraph.

b. Reasons/considerations and strategy  
    1) Reasons/considerations  
    (filled with reasons/considerations in compiling the funding plan based on funding sources)  
    2) Strategy  
    (filled with strategies to realize the funding plan based on funding sources)

2. Funding Plan based on Currency
a. Funding plan table based on currency

Funding Type	Actual Sep X-1	Projection Dec X-1	Mar X	Jun X	Sep X	Dec X
A. New Funding Receipts:
1. Rupiah
2. US Dollar 1)
3. Other currencies 1)
Total new funding receipts 1)
B. Funding Receipts Balance (Outstanding):
1. Rupiah
2. US Dollar 1)
3. Other currencies 1)
Total funding receipts balance (outstanding) 1)

Note:
X-1: Year of report preparation.
X: Position of the Business Plan.

1. converted into Rupiah using the Bank Indonesia (BI) middle exchange rate.

   b. Reasons/considerations
   (filled with reasons/considerations in compiling the funding plan based on currency)
   c. Strategy
   (filled with strategies to realize the funding plan based on currency)

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Format 8: Office Network and/or Distribution Channel Development and/or Change Plan

1. Office network development or change plan table

Office Type	Implementation Time 1)	Estimated Investment/Cost	Location 2)	Note 3)
OPENING
1. Regional Office
2. Marketing Office
ADDRESS CHANGE
1. Head Office
2. Regional Office
3. Marketing Office
BRANCH CLOSURE
1. Regional Office
2. Marketing Office

Note:

1. filled with the month of planned implementation.
2. for locations in the DKI Jakarta region, at least the name of the DKI Jakarta province must be mentioned. For locations outside the DKI Jakarta region, at least the name of the Regency/City must be included.
3. detailed notes can be attached in a separate sheet.

2. Reasons/considerations
   (filled with reasons/considerations for the office network development and/or change plan)

3. Strategy
   (filled with strategies to realize the office network development and/or change plan)

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Format 9: Organization, Human Resources, and/or Information Technology Development Plan

1. Organization Development Plan
   a. Description of the organization development plan (filled with explanations regarding the organization development plan, including plans for the formation of work units/divisions, plans for changing work units/divisions, and plans for the formation of committees or others that affect the organizational structure) b. Reasons/considerations (filled with reasons/considerations in compiling the organization development plan)
   c. Strategy
   (filled with strategies to realize the organization development plan)

2. Human Resources Development Plan
   a. Human resources fulfillment plan
   1) Description of the human resources fulfillment plan
   (filled with explanations regarding the human resources fulfillment plan, including plans for employee recruitment, appointment, and dismissal, plans for the use of consultants and/or advisors, and the use of contract personnel)
   2) Reasons/considerations
   (filled with reasons/considerations in compiling the human resources fulfillment plan)
   3) Strategy
   (filled with strategies to realize the human resources fulfillment plan) b. Human resources education and training plan
   1) Table of education and training needs and education/training costs/budget

No.	Training Material 1)	Estimated Training Time 2)	Location	Training Cost	Note

Note:

1. e.g.: risk management, marketing, etc.

2. filled with the month of training implementation, e.g.: April 2021.

    2) Reasons/considerations  
    (filled with reasons/considerations in compiling the human resources education and training plan)  
    3) Strategy  
    (filled with strategies to realize the human resources education and training plan)  
   

   c. Fundamental information technology development and procurement plan
   1) Description of the fundamental information technology development and procurement plan
   (filled with plans for fundamental information technology development and procurement, including significant changes to information technology configuration or core applications, procurement of new core applications, cooperation with information technology service providers, and/or other fundamental information technology development and procurement that can add and/or increase LPEI's risk. Additionally, information regarding the estimated cost of information technology development must be filled in)

    2) Reasons/considerations  
    (filled with reasons/considerations in compiling the fundamental information technology development and procurement plan)  
    3) Strategy  
    (filled with strategies to realize the fundamental information technology development and procurement plan)
   

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Format 10: Financial Statement Projections and Assumptions Used

1. Macro and micro assumptions used
   a. Assumption table

Description	Actual Sep X-1 1)	Projection Dec X-1	Mar X	Jun X	Sep X	Dec X
Macro Assumptions:
1. GDP Growth (%)
2. Inflation (%)
3. Others, detailed by assumption type 2)
Micro Assumptions: 3)
1. …………
2. ………...
3. etc.

Note:
X-1: Year of report preparation.
X: First year of the Business Plan position.

1. in case quarterly assumptions are not available, annual assumptions can be used.

2. other macro assumptions, such as exchange rates, export growth, etc.

3. according to assumptions relevant to LPEI (if any)

   b. Basis for determining micro assumptions including financing growth, guarantees, etc.
   (described based on considerations in determining growth)

2. Balance Sheet Projection
   a. Balance sheet table

Items	Actual Sept X-1	Projection Dec X-1	Mar X	Jun X	Sep X	Dec X
ASSETS
1. Cash and cash equivalents
2. Investments
3. Export financing receivables
4. Fixed assets
5. Deferred tax assets
6. Other assets
Total Assets
LIABILITIES
1. Claim payables
2. Tax payables
3. Claim reserves
4. Reinsurance payables
5. Deferred income
6. Securities issued
7. Other liabilities
Total Liabilities
EQUITY
1. Capital
2. General reserves
3. Claim reserves
4. Profit balance
Total Equity
TOTAL LIABILITIES AND EQUITY

Note:
X-1: Year of report preparation.
X: Position of the Business Plan.

3. Comprehensive Income Statement Projection
   a. Comprehensive Income Statement table

Items	Actual Sep X-1	Projection Dec X-1	Mar X	Jun X	Sep X	Dec X
INCOME
1. Operating income
2. Other business income
Total Income
EXPENSES
Operating Expenses
1. Interest and provision expenses
2. Labor expenses
3. Marketing expenses
4. Administrative and general expenses
5. Depreciation and amortization expenses
6. Loan provision expenses
Total Expenses
PROFIT (LOSS) BEFORE TAX
ESTIMATED INCOME TAX
1. Current year tax
2. Deferred tax income (expense)
PROFIT (LOSS) AFTER TAX
COMPREHENSIVE INCOME (LOSS)
Other Comprehensive Income (Loss)
1. Gains (losses) due to changes in fixed asset revaluation surplus
2. Exchange differences due to translation of financial statements in foreign currency
3. Gains (losses) due to remeasurement of available-for-sale financial assets
4. Gains (losses) due to the effective portion of financial instruments in cash flow hedging
5. Gains (losses) on other equity components according to financial accounting standards
NET COMPREHENSIVE PROFIT (LOSS)

Note:
X-1: Year of report preparation.
X: Position of the Business Plan.

4. Cash Flow Statement Projection

Items	Actual Sept X-1	Projection Dec X-1	Mar X	Jun X	Sep X	Dec X
1. Cash flows from operating activities
2. Cash flows from investing activities
3. Cash flows from financing activities
4. Increase/decrease in cash
Beginning cash balance
Ending cash balance

Note:
X-1: Year of report preparation.
X: Position of the Business Plan.

5. Administrative Account

Description	Actual Sep X-1	Projection Dec X-1	Mar X	Jun X	Sep X	Dec X
I. Receivable Commitments
II. Liability Commitments
III. Contingent Receivables
1. Guarantees received
2. Interest income in settlement
3. Others
IV. Contingent Liabilities
1. Guarantees given
2. Insurance given
3. Others
V. Others
1. Write-off productive assets
2. Write-off productive assets (uncollectible)

Note:
X-1: Year of report preparation.
X: Position of the Business Plan.

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Format 11: Ratio and Specific Item Projections

Ratio and Specific Item	Actual Sept X-1	Projection Dec X-1	Mar X	Jun X	Sep X	Dec X
1. CAR
2. NPF Gross
3. NPF Net
4. ROA
5. ROE
6. NIM
7. BOPO
8. Financing to Asset Ratio
9. Gearing Ratio

Note:
X-1: Year of report preparation.
X: Position of the Business Plan.

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Format 12: Loan Write-off Plan

a. Description of the loan write-off plan
(filled with the total realization of loan write-offs in the previous year and the plan for loan write-offs in the following year)

b. Reasons/considerations
(filled with reasons/considerations in compiling the loan write-off plan)

c. Strategy
(filled with strategies to realize the loan write-off plan)

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Format 13: Special Government Assignments to LPEI

1. Assignment plan
   (filled with the source of funds for special assignments, plan for fund usage, purpose of special assignments, benefits of special assignments, and financial projections)

2. Reasons/considerations
   (filled with reasons and considerations for the special government assignment plan)

3. Strategy
   (filled with the strategy for the special government assignment plan)

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Format 14: Fund Placement Plan

1. Fund Placement Plan

Placement Type	Actual Sep X-1	Projection Dec X-1	Mar X	Jun X	Sep X	Dec X
I. With Banks
II. With Securities
a. Government
b. Bank Indonesia
c. Multilateral financial institutions
d. Others
Total

Note:
X-1: Year of report preparation.
X: Position of the Business Plan.

2. Reasons/considerations
   (filled with reasons and considerations for the fund placement plan)

3. Strategy
   (filled with the strategy for the fund placement plan)

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Format 15: Risk Management Implementation

(filled with risk factors, risk management processes, risk profiles, and the implementation of good governance in risk management implementation, including the fulfillment of minimum capital, active supervision, and the fulfillment of market discipline regarding inherent risks)

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Format 16: Report on the Realization of the Business Plan

1. Filled with an explanation regarding the achievement of the Business Plan, covering the achievement of the Business Plan as well as a comparison of the plan and its realization, which must at least include:
   a. realization of business activity plans as referred to in Format 4; b. realization of plans for the development or expansion of business activities as referred to in Format 5;
   c. realization of capital plans as referred to in the items in Format 6;
   d. realization of financing plans as referred to in the items in Format 7; e. realization of plans for the development and/or changes to office networks or distribution channels as referred to in the items in Format 8; f. realization of plans for organizational development, human resources, and/or information technology as referred to in Format 9; and g. realization of projected financial statements along with the assumptions used as referred to in Format 10.

2. Filled with an explanation regarding deviations from the realization of the Business Plan related to the scope of realization in item 1, such as causes and obstacles faced.

3. Filled with follow-up actions or efforts to be taken to improve the achievement of the Business Plan realization.

4. Filled with specific ratios and items, including an explanation regarding the realization of specific ratios and items as referred to in Format 11.

5. Filled with an explanation regarding the achievement of other information in the Business Plan and a comparison of the plan and its realization, which must at least include:
   a. debt write-off plans as referred to in Format 12; b. special assignments from the government as referred to in Format 13;
   c. fund placement plans as referred to in Format 14; and
   d. the application of risk management as referred to in Format 15.

Approved by:
Executive Director (signature and full name)

This copy is consistent with the original
Head of Legislation and Legal Information Division Legal Directorate 1 Legal Department signed Rifki Ramadansyah

Format 17: Report on the Supervision of the Business Plan (filled with the Board of Directors' assessment of the implementation of the Business Plan consisting of quantitative and qualitative assessments of the realization of the Business Plan, including good corporate governance, risk profile, profitability, and capital, factors influencing LPEI's performance, and efforts to improve performance, if according to the relevant assessment there is a decline in LPEI's performance)

Approved by:
Board of Directors: (signature and full name)
Board of Directors:
(signature and full name)

Established in Jakarta on October 13, 2020
EXECUTIVE HEAD OF SUPERVISOR
INSURANCE, PENSION FUNDS,
FINANCING INSTITUTIONS, AND
OTHER FINANCIAL SERVICE INSTITUTIONS
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA, signed
RISWINANDI