PT Pool Advista Finance, Tbk. formerly named PT Indojasa Pratama Finance.
PT Indojasa Pratama Finance was initially established as a trusted company in the consumer finance sector in the automotive sector. The company was established on May 21, 2001 under the name PT Indojasa Finance based on a deed made before Paulus Widodo Sugeng Haryono S.H., Notary in Jakarta, and was approved by the Minister of Law and Human Rights R.I. dated 9 July 2001 and has been announced in BNRI No .: 79, TBN No. 11836, October 1, 2002.
In 2002, Indojasa Finance obtained a business license as a Financing Company from the Minister of Finance of the Republic of Indonesia based on Minister of Finance Decree No .: 180 / KMK.06 / 2002, April 23, 2002.
In 2003, Indojasa Finance entered the capital market by issuing bonds in 2003 valued at Rp. 40,000,000,000, - (Forty Billion Rupiah) under the name Indojasa Pratama I Amortitation Bonds in 2003 with a fixed interest rate, rated BBB + (Triple B Plus) from PT Kasnic Credit Rating Indonesia.
Even then, Indojasa Finance was one of the few SMEs that had succeeded in issuing and registering bonds through the capital market. In November 2008, all bonds payable were paid in full.
Entering 2004, Indojasa Finance obtained permission to open a branch office from the Minister of Finance of the Republic of Indonesia, so that it has 9 branch offices spread across the provinces of West Java and Banten Province based on the Decree of the Minister of Finance of the Republic of Indonesia No .: Kep-034 / KM.06 / 2004, 26 January 2004.
On the same occasion, the Company's name was changed to PT Indojasa Pratama Finance based on deed No. 6 dated October 26, 2004, made before Herlina Suyati Bachtiar, SH., MBA, Notary in Jakarta, and received approval from the Minister of Law and Human Rights R.I. No .: C-27588.HT.01.04.TH.2004, 3 November 2004 and has been announced in BNRI No. 52, TBN No. 6892, July 1, 2005, and received approval from the Minister of Finance R.I. based on the Minister of Finance Decree No. Kep-398 / KM.5 / 2005, 10 November 2005.
For its performance since the Company was founded, Indojasa Finance received a "Very Good" rating for the category of finance companies with assets under Rp. 100 billion based on the results of research conducted by the InfoBank Research Bureau, as published in InfoBank magazine No. 318, September 2005.
The same thing also happened in 2006. Indojasa Finance again received a rating of "Very Good" in the category of Medium Financing Companies (assets of Rp. 100 billion to Rp. Below Rp. 1 trillion) and was ranked 5th (fifth) best based on the results of the InfoBank Research Bureau, as published in Infobank magazine No. 329, August 2006.
In the same year Indojasa Finance also managed to rank 7th (seventh) best as a finance company in the asset category of Rp. 100 - 250 billion version of Investor Magazine Edition No. 153, August 22 - September 4, 2006.
In 2007 Indojasa Finance again received a rating of "Very Good" in the category of Medium Financing Companies (assets of Rp. 100 billion to Rp. Under 1 trillion) and was ranked the 7th (seventh) best based on the results of research conducted by the Research Bureau Infobank, as published in Infobank magazine No. 341, August 2007.
In 2009, Indojasa Finance re-placed the financing company with the title "Very Good" in the category of Medium-Financing Companies (assets of Rp. 100 billion to Rp. Under 1 trillion) and was ranked 13th (thirteenth) best based on the results of research conducted by the Infobank Research Bureau, as published in Infobank magazine No. 265 August 2009.
Its various performance places Indojasa Finance as a leading automotive consumer financing company in the country and also continues to carry out its commitments to banks that support Indojasa Finance.
In the period of 2013 to 2015 the shareholders took a conservative step in facing the unfavorable economic situation of Indonesia, namely to stop the total expansion of new businesses. The company initially only focused on consumer financing in the automotive sector, especially commercial vehicles, namely truck financing whose business is in the transportation of coal, sand, and palm oil, so in line with the deteriorating mining and plantation industry, the drivers of truck owners are severely affected. So during that period it was an internal consolidation period by taking policies or strategic steps such as reviewing branch performance, focusing on collections, reviewing HR, systems and procedures, implementing Good Corporate Governance, Risk Management, Compliance, Internal Control and KYC implementation. In the face of a less conducive economic situation, the company still maintains commitments to 17 creditors who have supported the company to date.
In measuring the company's performance, Indojasa Finance rated the company by PEFINDO on December 23, 2015 and obtained an idBB rating which is a benchmark for Indojasa Finance's performance of its efforts to consolidate during the period 2013 to 2015. Although getting an idBB rating, it can be said to be good and deserves appreciation because in a bad economic situation in the last 2 years, Indojasa Finance remains in the healthy category. Indojasa Finance hopes in the first semester with the support of creditors, the company can get a minimum investment grade category rating.
Entering 2016 and in line with the expansion of the policy of the Financial Services Authority regarding Business Activities whereby the finance company can provide investment financing, working capital financing, multipurpose financing and also allowed for fee-based activities including activities to market financial services products including, mutual funds , insurance, micro or other products related to financial services activities, finance companies have tremendous business potential. Indojasa Finance also increased capital from Rp. 55,000,000,000 (Fifty Five Billion Rupiah) to almost Rp. 255,000,000,000 (Two Hundred Fifty Five Billion Rupiah), so the company is ready to develop its business.
In addition to infrastructure improvements, in 2016 the company is
ready to face business challenges again by moving its head office from
Alam Sutera, Tangerang to Jakarta, namely in the Central Senayan
Building 2, Jakarta and consolidating several branches in accordance
with the business focus that will be run in accordance with POJK 29 /
2014 and is ready to expand into the financing sector with the aim of
investment, working capital and multipurpose. Pool Advista Finance POLA
Vision
Become a "Market Leader" financing company in the PRODUCTIVE sector to participate in improving the national economy.
Mission
- Proactive and innovative looking for and providing the best financing solutions with a focus on productive financing.
- Maximizing service to all stakeholders.
- Building trust from the banking industry and creditors.
- Developing Human Resources who have high competence and integrity
to manage the company so as to provide added value to all stakeholders. Pool Advista Finance POLA
GOOD CORPORATE APPLICATION
GOVERNANCE (GCG)
The Company is committed to implementing the principles of Good
Corporate Governance (GCG) consistently and in accordance with
applicable regulations to create sustainable business growth and
determine clear roles and responsibilities for all employees of the
Company.
By implementing GCG principles in every business operational
activity, every layer in the Company can continue to be monitored so
that it does not engage in Bad Corporate Governance practices, so that
positive values ??and images can be built and continue to be improved.
There are 5 (five) basic principles that guide all Company people in
implementing GCG in every line of business, namely: transparency,
accountability, responsibility, independence, and fairness:
1. Transparency
The principle of transparency is an attitude of openness that must be implemented in accordance with the law. Form of action that applies the principle of transparency between
others announced the establishment of the PT in the Supplement to the State Gazette of the Republic of Indonesia or newspaper. In addition, openness that involves transparency in information or in terms of applying openness management, as well as openness in accurate, clear and timely information on the Company's ownership, both to shareholders and stakeholders.
2. Accountability
The Principle of Accountability is an attitude of information disclosure in the financial sector. In the principle of accountability, control is exercised by the Directors and Commissioners with each different function. The Board of Directors is tasked with carrying out the Company's operations, while the Commissioners are assisted by an Independent Commissioner
supervision of the company's operations by the Directors, including financial supervision. Professional mechanisms, roles and responsibilities of management are needed so that all decisions and policies taken produce effectiveness in the Company's operations.
3. Liability
The Principle of Responsibility is the attitude of responsibility shown by the Company to shareholders and stakeholders but does not harm the interests of shareholders or members of the public at large. The Company is obliged to comply with applicable laws and regulations.
4. Independence
The principle of independence or independence is a principle that must be applied by all the Company's Management when carrying out their duties in accordance with the Company's Articles of Association
or Guidelines that have been made. The Company's management is not permitted to make a policy if it is under the influence of another party due to an affiliation,
family, management, share ownership, or relationships with government officials. This principle is established through commitments and statements from the Company's Management that the person concerned has carried out his duties in accordance with the principle of independence.
5. Justice
The principle of justice is a principle that guarantees that every decision and policy taken aims to meet the interests of all parties involved, be it
customers, shareholders or the general public. This principle of justice stipulates that each share in the same classification gives the same rights
to the holders. This principle is a manifestation of an element of
justice (non-discriminatory) between shareholders in the same
classification in order to obtain their rights accordingly, such as the
right to propose the implementation of the GMS, the right to propose
certain agendas in the GMS, and so forth. Pool Advista Finance POLA
CODE OF ETHIC OF THE COMPANY
The Company realizes that the existence of the Code of Ethics that is implemented through the implementation of Good Corporate Governance (GCG) into each business line has an important meaning as a tool to continuously increase value and long-term business growth not only for shareholders but also all stakeholders (stakeholders). Therefore, the Company is committed to implementing GCG consistently through the application of Ethics and Behavior Guidelines or Code of Ethics in every field within the Company.
The implementation of the Company’s Code of Ethics is the responsibility of the entire management of the Company, covering all employees of the Company, the Board of Commissioners, the Board of Directors, and supporting organs of the Board of Commissioners. With the implementation of this Code of Ethics, it is expected that professional behavior, upholding integrity, responsibility and commitment can be manifested in every process of the Company’s operational activities.
PRINCIPLES OF THE CODE OF ETHICS
The Company strives to always ensure that the Code of Ethics is consistently known, understood and carried out by all employees of the Company at every level of the organization. Some aspects need to be regulated in the Code of Ethics as a guideline for the conduct of all organs of the Company including:
• Responsibility
• Representation of the Company
-Responsibilities to the Company
-Responsibilities to individuals
-Responsibilities at work
• Representation of the Compan
• Confidentiality
• Compliance with Regulations
Pool Advista Finance POLA
The Company carries out careful, integrated, and effective risk management. The implementation is regularly evaluated and refined to ensure its level of adequacy and as an effort to keep up with the latest developments in the aspect of risk management. In general, the risk management process is carried out within a comprehensive risk management framework that covers all identified risks encountered by the Company.
This risk management system also mitigates the impact of risks that might occur. All identified risks are assessed on an internally formulated scale, and the most important risks for the Company are tabulated in the risk profile. The Company’s risk profile is updated regularly. The implementation of the Company’s strategy always pays attention to the directed aspects of risk management. Before being agreed to be implemented, Every strategy developed must be accompanied by risks identified.
The risk management process in the Company takes place through the following stages:
1. Risk identification by considering internal and external factors.
2. Continuous and timely analysis and evaluation to set priorities and sources of risk.
3. Implementation of sustainable risk mitigation strategies and the resources needed for management
4. Communication and participation of all relevant stakeholders.
5. Risk profile recording and determination to be monitored and reviewed its developments and changes.
In managing the risks, the Company strives to utilize resources optimally by applying the precautionary principle. sustainability and ability of the Company to provide added value to shareholders and all stakeholders can be maintained.
TYPES OF RISK AND MANAGEMENT METHOD
The main financial risks that have great potential encontered by the Company are credit, market, funding and liquidity, and operational risks. Financial policies are carried out carefully in managing these risks so as not to cause harm to the Company.
Management policy towards financial risk is applied to minimize the potential and adverse financial impacts that may arise from these risks at acceptable parameters. In relation to risk management, the Company does not allow for speculative purpose derivative transactions.
Overview on the policies and objectives of financial risk management implemented by the Company includes several matters, namely:
a. Credit Risk
Credit proposal is apporeved through the Credit Committee which isresponsible for conducting assessments, providing recommendation and approving proposals. Meanwhile, the proposals that exceed the authority of the Board of Directors need approval from a Commissioner appointed as a member of the Credit Committee. This Committee pays attention and focus on economic changes and other matters that can affect the quality of customer credit. Based on current conditions, the Company ensures that the supervision and management of the loan portfolio will be maintained properly through the implementation of a conservative applicable credit policy.
In order to enable the Company to carry out segmented credit monitoring, financing portfolio diversification has been carried out into several risk aspects, including financing types and quality based on region, branch, period, industry type and so forth
As an unavoidable risk, Credit Risk can be managed up to acceptable limits. The Company has established policies in dealing with this risk. It is started by conducting selective process of receiving credit application which is subsequently signed with the principle of prudence. The application of credit will undergo a survey and analysis process and then approved by the Credit Committee. The Company also applies the Guidelines for the Application of Principles Regarding customers regulated by the Regulation regulation of Minister of Finance No. 45/KMK.06/2003 dated January 30, 2003 concerning the Application of Principles Concerning Customers to Non-Bank Financial Institutions, which have been amended by the Regulation of Minister of Finance No. 74 PMK.012/2006 dated August 31, 2006 and Decree of the Director General of financial institutions No.Kep-2833/LK/2003 dated May 12, 2003 concerning guidelines for the implementation of the Principles Regarding Customers at Non-Bank Financial Institutions.
b. Market Risk
Market risk is mainly due to changes in interest rates, Rupiah exchange rates, commodity prices and capital or loan prices, which can bring risks to the Company. In planning the Company’s business, the market risk that has a direct impact on the Company is in terms of managing interest rates. Changes in the reference interest rate will be a risk at the time of the change, especially when the interest rate is raised, which causes losses to the Company so that it can cause the Company’s credit risk to increase. For this reason, the Company consistently applies a fixed interest rate management by adjusting the loan interest rate to the loan interest rate and other funding burdens.
c. Funding and Liquidity Risk
The Company’s growth is very dependent on the availability of funding originating from banking facilities and capital as well as other funding sources to carry out financing activities. To minimize liquidity risk due to differences in the maturity of the Company’s investments and sources of funds, at present part of the funding is made through capital funds from banks. Funding through banking is done by pledging our accounts receivable to the bank, and with the proceeds of obtaining funds through credit and paid regularly to the bank, this will greatly help and strengthen the Company in terms of capital and assets.
d. Operational Risk
Operational risk management is a cycle of an ongoing process of monitoring risks due to failure or insufficient control of internal systems and processes, human factors, and events caused by external factors. To reduce internal operational risk, the Company has prepared the Information Technology System development process in connection with changes and product development. The Company also pays attention to this operational risk, because if there are problems arising in connection with this risk, it can have an impact and broad influence on the Company’s overall performance. In general, operational risk is a risk caused by weaknesses and failures in the internal control process of human factors (fraud, etc.), and technological systems coupled with information that is less than prospective borrowers. This Operational Risk is also closely related to market and economic/credit risk . Pool Advista Finance POLA
AUDIT COMMITTEE
The Board of Commissioners established an Audit Committee with the aim of assisting its supervisory duties towards the implementation of the duties and functions of the Board of Directors in managing the Company according to the principles of good corporate governance. In carrying out its duties, the Audit Committee is fully responsible to the Board of Commissioners. The members of the Audit Committee are appointed according to the Decree of the Board of Commissioners No. SKEP.001/BOC/PAF/IV/18 dated April 2, 2018 concerning the Audit Committee with a tenure ends at the issuance of a new Board of Commissioners Decree.
DUTIES AND RESPONSIBILITIES OF AUDIT COMMITTE
- Reviewing the financial information including financial reports, projections and other reports related to the Company’s financial information that will be released by the Company to the public and/or authoritie
- Reviewing compliance with the provisions of laws and regulations relating to the activities of the Company.
- Providing independent opinion if there are differences of opinion between management and accountants for the services they provide.
- Providing recommendations to the Board of Commissioners regarding the appointment of accountants based on independence, scope of assignment, and service fees.
- Reviewing the implementation of audits by internal auditors and overseeing the implementation of follow-up actions by the Board of Directors on the findings of internal auditors
- Reviewing the risk management implementation carried out by the Board of Directors, if the Company does not have a risk monitoring function under the Board of Commissioners.
- Reviewing complaints relating to the accounting process and financial reporting of the Company.
- Reviewing and providing advice to the Board of Commissioners regarding the potential conflict of interest of the Company
- Maintaining the confidentiality of the Company’s documents, data and information. Pool Advista Finance POLA
Internal Audit
The Company established an Internal Audit Unit to become a strategic management partner in the management and supervision of the Company’s performance. The Internal Audit Unit is led by a chairman who is appointed and dismissed by the President Director with the approval of the Board of Commissioners. The Internal Audit Unit upholds the values of professionalism, objectivity, and independence in carrying out its duties and responsibilities. Through this Internal Audit Unit, the Company strives to achieve business objectives, improve the effectiveness of risk management as well as implement and control the Good Corporate Governance process optimally. Pool Advista Finance POLADUTIES AND RESPONSIBILITES OF CORPORATE SECRETARY
- Following the development of the Capital Market especially the laws and regulations that apply in the Capital Market sector
- Providing input to the Board of Directors and Board of Commissioners of the Company to comply with the provisions of legislation in the Capital Market sector;
- Assisting the Board of Directors and Board of Commissioners of the Company in implementing corporate governance which includes:
- Information disclosure to the public, including the availability of information on the Company’s website
- Timely report submission to OJK
- Organization and documentation of the GMS;
- Organization and documentation of Board of Directors and / or Board of Commissioners meetings; and
- Implementation of an orientation program for the Company for the Directors and / or the Board of Commissioners.
4. Acting as a liaison between the Company and the Company’s
shareholders, OJK and other stakeholders
As part of the community, the Company realizes its role in the development of community’s welfare. For this reason, the Company is committed to contributing to the community, while remaining accountable to stakeholders, employees and customers. The Company hopes that its presence in the community can provide a positive impact and influence the sustainability of the community’s livelihood.
In addition to providing a positive impact, the Company seeks to be able to grow and develop together with the entire community. In realizing this, the Company carries out Corporate Social Responsibility (CSR) programs as part of the its services to the community.
CSR activities aiming to provide benefits are implemented by the Company by taking into account three aspects, namely 3P (People, Planet, Profit) known as Triple Bottom Line. For the People aspect, the Company pays attention to matters related to individual human beings, such as employee’s welfare, best service to customers, and the needs of other stakeholders.
As for the aspects of the Planet, the Company pays attention and concern to the environment and the surrounding environment, especially those around the Company’s business operations so as not to cause negative effects and potentially disrupt the balance of nature. For the last aspect, Profit, the Company pays attention to economic interests to support the sustainability of the Company in the present and in the future and provide economic utilities to all stakeholders.
In order to optimize the social and environmental impacts, the Company always prepares CSR activities properly in order to achieve the aims and objectives of the programs as well as channel them accurately. Pool Advista Finance POLA
Jl. Letjen Soepeno
Blok CC6 No 9 - 10
Arteri Permata Hijau
Jakarta Selatan 12210
Telp: 021-80626300
