golden energy mines COVER BACKGROUND PUTIH OPTIMISM Towards Continuing Improvement LAPORAN TAHUNAN ANNUAL REPORT

Transkripsi

1 golden energy mines COVER BACKGROUND PUTIH OPTIMISM Towards Continuing Improvement LAPORAN TAHUNAN ANNUAL REPORT

2 OPTIMISME Menuju Penyempurnaan Berkelanjutan OPTIMISM Towards Continuing Improvement

3 DAFTAR ISI Table of Contents VISI MISI Vision Mision NILAI-NILAI PERUSAHAAN Company Values JEJAK LANGKAH Milestone PERISTIWA PENTING Significant Events SEKILAS GEMS GEMS at a Glance STRUKTUR PERUSAHAAN Company Structure LOKASI PERTAMBANGAN Mining Locations PRODUK BATUBARA Coal Products PANGSA PASAR PERSEROAN Company Market Share PROFIL PERUSAHAAN Company Profile STRATEGI PERSEROAN Company Strategy STRUKTUR ORGANISASI Organization Structure PENGEMBANGAN SUMBER DAYA MANUSIA Human Resources Development LAPORAN DEWAN KOMISARIS Board of Commissioners Report PROFIL DEWAN KOMISARIS Board of Commissioners Profile LAPORAN DIREKSI Board of Directors Report ANALISIS MANAJEMEN Management Analysis PROFIL DIREKSI Board of Directors Profile KOMITE AUDIT Audit Committee MANAJEMEN EKSEKUTIF The Executive Management TATA KELOLA PERUSAHAAN Good Corporate Governance KESEHATAN, KESELAMATAN KERJA & LINGKUNGAN HIDUP Health, Safety & Environment TANGGUNG JAWAB SOSIAL PERUSAHAAN Corporate Social Responsibility IKHTISAR KEUANGAN Financial Highlights IKHTISAR SAHAM Stock Highlights PERNYATAAN PERTANGGUNGJAWABAN Statement of Responsibility LAPORAN KEUANGAN Financial Statement golden energy mines

4 Sekilas GEMS GEMS at a Glance Ikhtisar Keuangan Financial Highlights Laporan Dewan Komisaris Board of Commissioners Report Laporan Direksi Board of Directors Report VISI Vision Menjadi perusahaan pertambangan terkemuka di Indonesia dengan menciptakan nilai tambah bagi para pelanggan dan pemangku kepentingan. To be the leading mining company in Indonesia by creating added value to customers & stakeholders. MISI Mision 1. Membangun budaya korporat yang berpusat pada sumber daya manusia. 2. Fokus kepada keunggulan kegiatan operasional. 3. Membangun pertumbuhan berkesinambungan melalui standar keselamatan kerja yang tinggi, pengembangan program kemasyarakatan yang baik dan pengelolaan lingkungan hidup yang tangguh. 1. Develop the best corporate culture centered on human capital. 2. Focus on excellence in operations. 3. Build sustainable growth through high safety standards, good community program development, and strong environmental management. 02 PT Golden Energy Mines Tbk / Laporan Tahunan 2012

5 Analisis Manajemen Management Analysis Tata Kelola Perusahaan Good Corporate Governance Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility NILAI-NILAI PERUSAHAAN Company Values Perseroan menanamkan nilai-nilai perusahaan dan karakter yang membentuk budaya Perseroan. Nilai dan karakter yang disebut dengan The Golden Way of Sinarmas yang telah mendorong keberhasilan Perseroan dengan pertumbuhan yang berkesinambungan. The Company implants company values and character which form the Company culture. The values and character known as The Golden Way of Sinarmas that has promoted Company's success with sustainable growth. INTEGRITAS Integrity SIKAP POSITIF Positive Attitude LOYAL Loyalty Hati nurani Menjalankan apa yang diucapkan Kejujuran Conscience Walking the talk Honesty Berfikir positif Menghormati sesama Bekerja sama Suasana kerja yang positif Positive thinking Respecting others Cooperating Positive work environment Persaudaraan Rasa bangga Pengabdian Brotherhood Proud Dedication INOVASI Innovation PENYEMPURNAAN BERKELANJUTAN Continuous Improvement KOMITMEN Commitment Studi banding (Benchmarking) Terobosan Comparative study (Benchmarking) Breakthrough Keakuratan data Perhatian terhadap biaya Proses yang unggul Data accuracy Attention to costs Superior process Gairah Berjuang menjadi yang terbaik Menindaklanjuti pekerjaan hingga selesai Enthusiasm Striving to be the best Follow up the work until completed 2012 Annual Report / PT Golden Energy Mines Tbk 03

6 Sekilas GEMS GEMS at a Glance Ikhtisar Keuangan Financial Highlights Laporan Dewan Komisaris Board of Commissioners Report Laporan Direksi Board of Directors Report JEJAK LANGKAH Milestone 13 Maret 1997 Perseroan didirikan dengan nama PT Bumi Kencana Eka Sakti. 13 March 1997 The Company was established under the name PT Bumi Kencana Eka Sakti Perseroan mengakuisisi PKP2B yang terletak di Kalimantan Selatan, yakni PT Borneo I n d o b a r a m e l a l u i A n a k Perusahaan PT Roundhill Capital Indonesia. The Company acquired PKP2B located in South Kalimantan, i.e PT Borneo Indobara through a S u b s i d i a r y C o m p a n y PT Roundhill Capital Indonesia Perseroan meningkatkan pembangunan infrastruktur untuk mendukung kegiatan operasional pertambangan di PT Borneo Indobara. Infrastruktur yang dibangun meliputi pembangunan jalan, jembatan, pelabuhan Bunati, serta pembangunan mess dan kantor per wakilan di Kalimantan Selatan. The Company increased infrastructure developments to support mining operational activities at PT Borneo Indobara. The infrastructures being developed covered roads, bridges, Bunati port, and the building of e m p l o y e e d o r m i t o r i e s a n d a representative office in South Kalimantan Perseroan diakuisisi oleh PT Dian Swastatika Sentosa Tbk. The Company was acquired by PT Dian Swastatika Sentosa Tbk. PERISTIWA PENTING 2012 / Significant Events Januari 2012 RUPSLB Perseroan diselenggarakan di Ruang Puri Pertiwi Ballroom I, lantai 2, Jl. Mangga Dua Raya, Jakarta January 2012 The Company's Extraordinary GMS was conducted at Ruang Puri Pertiwi Ballroom I, 2nd Floor, Jl. Mangga Dua Raya, Jakarta Juni 2012 RUPST Perseroan diselenggarakan di Ruang Paseo, Plaza BII, Tower II lantai 39, Jl. MH Thamrin No. 51 Jakarta Pusat. 12 June 2012 The Company's AGMS was conducted at Paseo Room, Plaza BII, Tower II, 39th Floor, Jl. MH Thamrin No. 51 Central Jakarta. 13 Juli 2012 Pendirian Anak Perusahaan Pe r s e r o a n, G E M S C o a l Resources Pte. Ltd yang berkedudukan di Singapura. 13 July 2012 The establishment of the Company's subsidiary, i.e. GEMS Coal Resources Pte. Ltd, based in Singapore. 04 PT Golden Energy Mines Tbk / Laporan Tahunan 2012

7 Analisis Manajemen Management Analysis Tata Kelola Perusahaan Good Corporate Governance Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility Perseroan memperbesar kegiatan usaha utama di pertambangan dengan mengakuisisi beberapa wilayah penambangan baru yang terletak di Sumatera dan Kalimantan. The Company expanded its core business activities in mining by acquiring several new mining areas located in Sumatera and Kalimantan. 20 Juni November 2011 S u r a t E f e k t i f Pe r n y a t a a n Pendaftaran dari Bapepam-LK. 9 November 2011 Effective Letter of Statement of Registration from the Capital Market and Financial Institution Supervisory Agency (Bapepam- LK). Perseroan menandatangani perjanjian pendahuluan pencatatan efek dengan PT Bursa Efek Indonesia. 20 June 2011 The Company signed an initial agreement for stock listing with PT Bursa Efek Indonesia. 16 November 2010 Nama Perseroan diubah menjadi PT Golden Energy Mines Tbk. 16 November 2010 The Company's name was changed to PT Golden Energy Mines Tbk. 17 November 2011 Pencatatan Saham Perdana Perseroan di PT Bursa Efek Indonesia. 17 November 2011 Initial Stock Listing on PT Bursa Efek Indonesia. 12 Oktober 2012 Pe re s m i a n k a n t o r ba r u Perseroan di Plaza BII, Tower II, lantai 6, Jl. MH Thamrin No. 51 Jakarta Pusat. 12 October 2012 Inauguration of the Company's new office at the Plaza BII, T o w e r I I, 6 t h F l o o r, Jl. MH Thamrin No. 51 Central Jakarta. 17 Desember 2012 Public Expose 2012 diselenggarakan di Ruang Narwastu, Plaza BII lantai basement 1, Jl. MH Thamrin No. 51 Jakarta Pusat. 17 December 2012 Public Expose 2012 was conducted at Ruang Narwastu, P l a z a B I I B a s e m e n t 1, Jl. MH Thamrin No. 51 Central Jakarta Annual Report / PT Golden Energy Mines Tbk 05

8 Sekilas GEMS GEMS at a Glance Ikhtisar Keuangan Financial Highlights Laporan Dewan Komisaris Board of Commissioners Report Laporan Direksi Board of Directors Report SEKILAS GEMS GEMS at a Glance Sejarah Singkat PT Golden Energy Mines Tbk bergerak di bidang jasa perdagangan hasil tambang dan jasa pertambangan. Pada tanggal 13 Maret 1997 Perseroan didirikan dengan nama PT Bumi Kencana Eka Sakti yang kemudian berubah nama menjadi PT Golden Energy Mines Tbk pada tanggal 16 November Pada tanggal 17 November 2011, Perseroan menjadi perusahaan publik dan tercatat di papan utama Bursa Efek Indonesia. Melalui Penawaran Umum Saham Perdana (IPO) tersebut, Perseroan memperoleh dana sebesar Rp 2,205 triliun. Dana tersebut dipergunakan Perseroan untuk pengeluaran modal dan biaya pengembangan sarana dan prasarana pertambangan batubara untuk mendukung rencana ekspansi Perseroan dan Anak Perusahaan, untuk modal kerja Perseroan dan Anak Perusahaan, serta untuk melunasi sebagian hutang dan kewajiban Perseroan kepada pihak berelasi. Pada tanggal 13 Juli 2012, Perseroan membentuk Anak Perusahaan, GEMS Coal Resources Pte. Ltd ( GEMSCR ), sebuah perusahaan dengan kepemilikan 100% yang didirikan dan tunduk pada hukum Singapura. GEMSCR merupakan perusahaan yang bergerak dalam bidang perdagangan yang akan mendukung kegiatan usaha Perseroan dalam melaksanakan aktivitas perdagangan batubara di luar negeri. Brief History PT Golden Energy Mines Tbk is engaged in the business of trading services of mining products and mining services. On March 13, 1997 the Company was established under the name PT Bumi Kencana Eka Sakti which was later changed to PT Golden Energy Mines Tbk on November 16, On November 17, 2011, the Company became a public company and was listed on the main board of Indonesia Stock Exchange (Bursa Efek Indonesia). Through the Initial Public Offering, the Company was able to collect funds amounting to Rp trillion. The funds were used by the Company for capital expenditure and for financing the development of coal mining structure and infrastructure to support the expansion plan of the Company and its subsidiaries, for the Company and its subsidiaries' working capital, and for paying off some debts and liabilities to the related parties. On July 13, 2012, the Company established a Subsidiary Company, GEMS Coal Resources Pte. Ltd. ( GEMSCR ), a company with 100% ownership and is governed by the law of Singapore. GEMSCR is a company doing business in trading which will support the Company's business in coal trading activities overseas. 06 PT Golden Energy Mines Tbk / Laporan Tahunan 2012

9 Analisis Manajemen Management Analysis Tata Kelola Perusahaan Good Corporate Governance Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility STRUKTUR PERUSAHAAN Company Structure GEMS 0,636% 0,030% 100,000% 99,998% 70,000% 99,016% MAL DSSP GEMSCR KIM TKS RCI 99,991% 99,173% 99,992% 99,800% 99,600% 99,981% 99,070% NIP TBBU KCP BBU BHBA BNP BIB 0,002% 0,008% 0,200% 0,400% 0,019% 0,825% KETERANGAN / REMARKS : GEMS RCI BIB KCP TKS KIM GEMSCR : PT Golden Energy Mines Tbk : PT Roundhill Capital Indonesia : PT Borneo Indobara : PT Karya Cemerlang Persada : PT Trisula Kencana Sakti : PT Kuansing Inti Makmur : GEMS Coal Resources Pte. Ltd MAL NIP DSSP TBBU BBU BHBA BNP : PT Manggala Alam Lestari : PT Nusa Indah Permai : PT DSSP Power Sumsel : PT Tanjung Belit Bara Utama : PT Bungo Bara Utama : PT Bara Harmonis Batang Asam : PT Berkat Nusantara Permai Struktur Perusahaan pada 31 Desember 2012 Company Structure as of 31 December Annual Report / PT Golden Energy Mines Tbk 07

10 Sekilas GEMS GEMS at a Glance Ikhtisar Keuangan Financial Highlights Laporan Dewan Komisaris Board of Commissioners Report Laporan Direksi Board of Directors Report PEMILIKAN LANGSUNG Direct Ownership ENTITAS ANAK Subsidiaries ALAMAT Address JENIS USAHA Nature of Business KEPEMILIKAN 2012 (%) Ownership 2012 (%) TAHUN OPERASI KOMERSIAL Start of Commercial Operations PT Roundhill Capital Indonesia Plaza BII, Tower II, 7th floor Jl. MH Thamrin No 51, Central Jakarta Penyertaan Saham Holding 99,016 - PT Kuansing Inti Makmur Desa Tanjung Belit, Tanjung Belit - Jujuhan, Muara Bungo, Kabupaten Bungo, Jambi Pertambangan Batubara Coal Mining 99, PT Trisula Kencana Sakti Jl. Padat Karya No. 7, RT 19 RW 06, Lanjas-Teweh Tengah, Barito Utara, Kalimantan Tengah Pertambangan Batubara Coal Mining 70, PT Manggala Alam Lestari* Plaza BII, Tower II, 27th floor Jl. MH Thamrin No 51, Central Jakarta Pertambangan Batubara Coal Mining 0,636 - PT DSSP Power Sumsel* Plaza BII, Tower II, 27th Floor Jl. MH. Thamrin No. 51 Central Jakarta Penyediaan Tenaga Listrik Electricity Supplier 0,03 - GEMS Coal Resources Pte. Ltd. 1 Raffles Place #28-02, One Raffles Place, Singapore Perdagangan Besar Trading PEMILIKAN TIDAK LANGSUNG Indirect Ownership ENTITAS ANAK Subsidiaries ALAMAT Address JENIS USAHA Nature of Business KEPEMILIKAN 2012 (%) Ownership 2012 (%) TAHUN OPERASI KOMERSIAL Start of Commercial Operations PT Borneo Indobara (melalui/ through RCI) Plaza BII, Tower II, 7th floor Jl. MH Thamrin No 51, Central Jakarta Pertambangan Batubara Coal Mining 99, PT Karya Cemerlang Persada (melalui/ through KIM) Desa Tanjung Belit, Tanjung Belit - Jujuhan, Muara Bungo, Kabupaten Bungo, Jambi Pertambangan Batubara Coal Mining 99, PT Bungo Bara Utama (melalui/ through KIM) Jl. Rangkayo Hitam RT/RW : 014/005, Muara Bungo, Kabupaten Bungo, Jambi Pertambangan Batubara Coal Mining 99,998 - PT Bara Harmonis Batang Asam (melalui/ through KIM) Desa Ujung Tanjung-Jujuhan, Muara Bungo, Kabupaten Bungo, Jambi Pertambangan Batubara Coal Mining 99, PT Berkat Nusantara Permai (melalui/ through KIM) Desa Tanjung Belit, Tanjung Belit-Jujuhan, Muara Bungo, Kabupaten Bungo, Jambi Pertambangan Batubara Coal Mining 99,998 - PT Tanjung Belit Bara Utama (melalui/ through KIM) Jl. Rangkayo Hitam RT/RW : 014/005, Muara Bungo, Kabupaten Bungo, Jambi Pertambangan Batubara Coal Mining 99,998 - PT Nusa Indah Permai (melalui/ through MAL)* Komplek Griya Pramuka, Jl. Lintas Palembang Sekayu, Kayu Ara, Musi Banyuasin, Sumatera Selatan Pertambangan Batubara Coal Mining - - *) Pada tanggal 31 Desember 2012, MAL, NIP, dan DSSP bukan merupakan anak perusahaan yang dikonsolidasikan dalam Laporan Keuangan Perseroan Tahun buku 2012 *) As of December 31, 2012, MAL, NIP, and DSSP are not the subsidiaries that consolidated to the Financial Statement of the Company for PT Golden Energy Mines Tbk / Laporan Tahunan 2012

11 Analisis Manajemen Management Analysis Tata Kelola Perusahaan Good Corporate Governance Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility LOKASI PERTAMBANGAN Mining Locations Lokasi pertambangan milik Anak-anak Perusahaan Perseroan yaitu BIB, KIM dan Anak Perusahaannya ( KIM Blok ) serta TKS seluruhnya berada di wilayah Indonesia yang tersebar di Jambi, Kalimantan Selatan, dan Kalimantan Tengah. The mining locations belonging to the Company's subsidiaries, namely, BIB, KIM and its subsidiary ("KIM Block"), along with TKS, are located within the Republic of Indonesia, in territories spread throughout Jambi, South Kalimantan, and Central Kalimantan. KIM BLOK Jambi Jambi TKS Kalimantan Tengah Central Kalimantan BIB Kalimantan Selatan South Kalimantan Perijinan / Permit Luas / Size Cadangan / Reserves Sumber Daya / Resources Lokasi / Location : IUP ( ) : ha : 36,2 juta ton* 36,2 million ton* : 254,1 juta ton* 254,1 million ton* : Kabupaten Bungo, Jambi Bungo Regency, Jambi Perijinan / Permit Luas / Size Cadangan / Reserves Sumber Daya / Resources Lokasi / Location : IUP ( ) : ha : 8,3juta ton** 8,3 million ton** : 105,4 juta ton** 105,4 million ton** : Kabupaten Barito Utara dan Barito Timur, Kalimantan Tengah North Barito and East Barito Regencies, Central Kalimantan Perijinan / Permit Luas / Size Cadangan / Reserves Sumber Daya / Resources Lokasi / Location : PKP2B ( ) : ha : 620,4 juta ton* 620,4 million ton* : 1.580,2 juta ton* 1.580,2 million ton* : Kabupaten Tanah Bumbu, Kalimantan Selatan Tanah Bumbu Regency, South Kalimantan Keterangan : * Berdasarkan laporan JORC SMGC per Agustus 2012 ** Berdasarkan laporan JORC Danmar per Agustus 2012 Remarks: *) Based on the JORC report from SMGC as of August 2012 **) Based on the JORC report from Danmar as of August 2012 Luas area proyek pertambangan dari semua Anak Perusahaan seluas hektar. Berdasarkan laporan JORC SMGC dan Danmar per Agustus 2012, total cadangan Perseroan tercatat hingga 664,9 juta ton dengan total sumber daya 1,9 miliar ton. The total mining area of all Company Subsidiaries is calculated at 38,165 hectares. Based on the JORC reports from SMGC and Danmar, as of August 2012, total Company reserves are recorded at million tons and total resources at 1.9 billion tons Annual Report / PT Golden Energy Mines Tbk 09

12 Sekilas GEMS GEMS at a Glance Ikhtisar Keuangan Financial Highlights Laporan Dewan Komisaris Board of Commissioners Report Laporan Direksi Board of Directors Report PRODUK BATUBARA Coal Products Perseroan memiliki beragam jenis produk batubara sesuai dengan kadar kualitas yang terkandung di dalamnya. The Company has various types of coal products based on the quality grade. COAL SPECIFICATION COAL BRAND CALORIFIC VALUE CALORIFIC VALUE TOTAL MOISTURE kcal/kg kcal/kg Gross Air Dried (GAD) Gross as Received (GAR) % - as received gems gems gems PROXIMATE ANALYSIS Moisture Ash Volatile Matter Fixed Carbon Total Sulphur HGI Size % - air dried % - air dried % - air dried % - air dried % - air dried approximately mm , , PANGSA PASAR PERSEROAN Company Market Share Keunggulan Perseroan adalah harga dari batubara yang diproduksi dan biaya kirim yang lebih murah bagi pelanggan di Asia, dibandingkan dengan batubara yang berasal dari Afrika Selatan atau Australia. Hal tersebut disebabkan oleh lokasi pertambangan di Indonesia yang diuntungkan secara geografis. The Company has an advantage in the attractive price of the coal it produces, coupled with a lower cost for shipment to Asian customers, compared with coal from South Africa or Australia. This is due to the mining location being in Indonesia, which is geographically advantageous. PENJUALAN BATUBARA PERSEROAN / Company Coal Sales Domestik Domestic 42% Ekspor Export 58% Pada tahun 2012 Perseroan mengekspor 58% batubara sedangkan 42% sisanya menjadi konsumsi domestik. Sebagian besar Negara tujuan ekspor Perseroan adalah China, India dan Thailand. In the year 2012 the Company exported 58% of the coal, with the remaining 42% sold for domestic consumption. Most of the exported coal is for markets in China, India and Thailand. 10 PT Golden Energy Mines Tbk / Laporan Tahunan 2012

13 Analisis Manajemen Management Analysis Tata Kelola Perusahaan Good Corporate Governance Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility PROFIL PERUSAHAAN Company Profile Nama Perseroan Name of Company Tanggal Berdiri Date of Establishment Berkedudukan di Incorporated in Tanggal Pencatatan Di Bursa Listing Date Kode Saham Shares Code Bidang Usaha Lines of Business Alamat Address Nomor Telepon Phone Number Faksimili Facsimile Laman Website Modal Dasar Authorized Capital Modal Ditempatkan dan Disetor Penuh Issued and Fully Paid Capital Jumlah Saham Tercatat Di Bursa Number of Shares Listed Nilai Nominal per Saham Nominal Value per Share Akuntan Publik* Public Accountant Biro Administrasi Efek Share Administration Bureau & Settlement Agent PT Golden Energy Mines Tbk 13 Maret March 1997 Jakarta Pusat - Indonesia Central Jakarta, DKI, Indonesia 17 November November 2011 GEMS Bergerak di bidang pertambangan melalui Anak Perusahaan dan perdagangan batubara Engaged in mining, through subsidiaries, and coal trading Plaza BII Tower II 6th floor Jl. M.H. Thamrin No. 51 Jakarta Indonesia (021) (021) corsec@goldenenergymines.com Rp 2,000,000,000,000 Rp 588,235,300, lembar saham 5,882,353,000 shares Rp 100 per saham Rp 100 per shares Purwantono, Suherman & Surja, anggota Ernst & Young Gedung Bursa Efek Indonesia Tower II, 7th floor Jln. Jendral Sudirman Kav Jakarta 12190, Indonesia Telepon : (021) Fax: (021) Website : PT Sinartama Gunita BII Plaza Tower I, 9th Floor Jl. M. H. Thamrin No. 51 Jakarta Indonesia Telepon : (021) Fax : (021) * Akuntan Publik Perseroan memberikan jasa audit Laporan Keuangan Perseroan dan Anak Perusahaan untuk tahun buku 2012 dengan biaya sebesar Rp ,- * The Company's Public Accountant provides auditing services of the Company and its subsidiaries Financial Report for the fiscal year 2012 at a fee of Rp 1,136,800,000, Annual Report / PT Golden Energy Mines Tbk 11

14 Sekilas GEMS GEMS at a Glance Ikhtisar Keuangan Financial Highlights Laporan Dewan Komisaris Board of Commissioners Report Laporan Direksi Board of Directors Report STRATEGI PERSEROAN Company Strategy Perseroan dan Anak Perusahaan terus berusaha untuk meningkatkan kinerja dan mencapai pertumbuhan jangka panjang yang berkesinambungan. Untuk mencapai tujuan ini, Perseroan dan Anak Perusahaan menetapkan strategi usaha utama yang mencakup: 1. Peningkatan kualitas sumber daya manusia 2. Peningkatan produksi batubara 3. Peningkatan efisiensi biaya penambangan 4. Pembinaan dan peningkatan hubungan dengan pelanggan 5. Peningkatan kapabilitas perdagangan dan marketing batubara 6. Perluasan jaringan distribusi pasar 7. Peningkatan jumlah sumber daya dan cadangan batubara 8. Operasional berkelanjutan melalui pemeliharaan lingkungan 9. Pengembangan hubungan baik dengan komunitas lokal The Company and its Subsidiaries strive to improve work performance and achieve long term sustainable growth. To achieve the goal, the Company and its Subsidiaries provide primary business strategies which include: 1. Improve the quality of Human Resources 2. Increase production of coal 3. Increase efficiency of mining cost 4. Increase the improvement of customer relationships 5. Improve trading and marketing capability 6. Expansion of the market distribution network 7. Increase the amount of coal resources and reserves 8. Sustainable operation through environmental management 9. Develops good relation with local communities 12 PT Golden Energy Mines Tbk / Laporan Tahunan 2012

15 Analisis Manajemen Management Analysis Tata Kelola Perusahaan Good Corporate Governance Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility STRUKTUR ORGANISASI Organization Structure DEWAN KOMISARIS Board of Commissioners KOMITE AUDIT Audit Committee DIREKSI Board of Directors CEO Chief Executive Officer AUDIT INTERNAL Internal Audit SEKRETARIS PERUSAHAAN Corporate Secretary DIVISI PEMASARAN & PERDAGANGAN Marketing & Trading Division DIVISI PENGEMBANGAN BISNIS Business Development Division DIVISI KEPATUHAN, PERIJINAN & ADMINISTRASI Compliance, Lisence & Administration Division SUMBER DAYA MANUSIA & DIVISI UMUM Human Resources & General Affairs Division COD Chief of Organization & Development CFO Chief Financial Officer CPO Chief Project Officer 2012 Annual Report / PT Golden Energy Mines Tbk 13

16 Sekilas GEMS GEMS at a Glance Ikhtisar Keuangan Financial Highlights Laporan Dewan Komisaris Board of Commissioners Report Laporan Direksi Board of Directors Report IKHTISAR KEUANGAN Financial Highlights dalam jutaan Rp, kecuali dinyatakan lain in million Rp, except otherwise stated LABA RUGI KOMPREHENSIF KONSOLIDASIAN (Disajikan kembali / Restated) 2010 (Disajikan kembali / Restated) CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Penjualan neto Net Sales Laba bruto Gross Profit Laba usaha Income from operations Laba bersih Net income Laba bersih pemilik entitas induk Net income owners of the parent Laba bersih kepentingan nonpengendali Net income non-controlling interests Jumlah laba komprehensif pemilik entitas induk Total comprehensive income owners of the parent Jumlah laba komprehensif kepentingan nonpengendali Total comprehensive income noncontrolling interests Jumlah saham beredar dalam lembar Issued shares in shares Jumlah rata-rata tertimbang saham dalam lembar Weighted average number of shares in shares Laba neto per saham dasar Rp 30,22 61,53 16,57 Basic earnings per share in Rp dalam jutaan Rp in million Rp LAPORAN POSISI KEUANGAN KONSOLIDASIAN (Disajikan kembali / Restated) 2010 (Disajikan kembali / Restated) CONSOLIDATED STATEMENTS OF FINANCIAL POSITION Aset lancar Current assets Aset tidak lancar Non-current assets Jumlah aset Total assets Liabilitas jangka pendek Current liabilities Liabilitas jangka panjang Non-current liabilities Jumlah liabilitas Total liabilities Jumlah ekuitas Total equity Jumlah ekuitas pemilik entitas induk Total equity owners of the parent Modal kerja bersih Net working capital Jumlah investasi Total investment RASIO KEUANGAN (Disajikan kembali / Restated) 2010 (Disajikan kembali / Restated) FINANCIAL RATIO Rasio laba terhadap aset 5,17% 9,44% 2,72% Return on assets Rasio laba terhadap ekuitas 6,14% 11,06% 5,70% Return on equity Rasio laba terhadap penjualan neto 4,49% 10,98% 3,25% Net income to net sales ratio Rasio lancar (X) 3,55 5,42 2,29 Current ratio (x) Rasio utang terhadap ekuitas 0,00%* 0,76% 64,46% Debt to equity ratio Rasio utang terhadap aset 0,00%* 0,65% 30,76% Debt to assets ratio * Perusahaan tidak mempunyai utang pada 31 Desember 2012 * The Company does not have any debts as of 31 December PT Golden Energy Mines Tbk / Laporan Tahunan 2012

17 Analisis Manajemen Management Analysis Tata Kelola Perusahaan Good Corporate Governance Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility IKHTISAR SAHAM Stock Highlights Kronologis Pencatatan Saham Pada tanggal 17 November 2011, saham Perseroan tercatat dan diperdagangkan di PT Bursa Efek Indonesia dengan kode saham GEMS. Perseroan mencatatkan lembar saham dengan harga saham Perseroan pada saat IPO sebesar Rp per saham. Selama tahun 2012, harga saham Perseroan sempat menyentuh angka tertinggi pada harga saham Rp per lembar saham dengan nilai kapitalisasi sebesar Rp Chronology of Listed Shares On 17 November 2011, the Company's shares were listed and traded on the Indonesia Stock Exchange, under the business identifier code GEMS. The Company recorded 5,882,353,000 shares at a price following the Company's IPO at Rp 2,500 per share. During 2012, the Company's share price touched its highest rate, at a price of Rp 3,150 p e r s h a re w i t h a m a r ke t c a p i t a l i z a t i o n of Rp 18,529,411,950,000. Harga dan Volume Transaksi Saham Per Triwulan di Bursa Efek Indonesia (Rupiah) Quarterly Stock and Transaction Volume at The Indonesia Stock Exchange (Rupiah) TERTINGGI Highest (Rp) TERENDAH Lowest (Rp) PENUTUPAN Closing (Rp) VOLUME (JUMLAH SAHAM) Volume (No of Shares) PERIODE PERIOD Kuartal Keempat Kuartal Pertama Kuartal Kedua Kuartal Ketiga Kuartal Keempat Fourth Quarter First Quarter Second Quarter Third Quarter Fourth Quarter KINERJA SAHAM PERSEROAN / Stock Highlights Rp H : L : C : H : L : C : H : L : C : H : L : C : H : L : C : Jumlah Saham Number of Shares Kuartal Keempat Fourth Quarter 2011 Kuartal Pertama First Quarter 2012 Kuartal Kedua Second Quarter 2012 Kuartal Ketiga Third Quarter 2012 Kuartal Keempat Fourth Quarter 2012 TERTINGGI Highest (Rp) TERENDAH Lowest (Rp) PENUTUPAN Closing (Rp) VOLUME (JUMLAH SAHAM) Volume (No of Shares) (Rp) INDEKS PERTAMBANGAN Mining Index 2012 Annual Report / PT Golden Energy Mines Tbk 15

18 Sekilas GEMS GEMS at a Glance Ikhtisar Keuangan Financial Highlights Laporan Dewan Komisaris Board of Commissioners Report Laporan Direksi Board of Directors Report Dividen Dividend Perseroan telah beberapa kali membagikan dividen tunai kepada para pemegang saham sejak Perseroan tercatat di PT Bursa Efek Indonesia pada 17 November 2011, dengan rincian sebagai berikut : The Company has paid cash dividends to shareholders several times since the Company was listed in the Indonesia Stock Exchange on November 17, 2011, detailed as follows: DIVIDEN FINAL 2011* Final Dividend 2011* DIVIDEN INTERIM 2012 Interim Dividend 2012 PERIODE PERIOD Tanggal pelaksanaan pembagian dividen Nilai dividen per lembar saham Harga saham sebelum pembagian dividen Harga Saham setelah pembagian dividen 8 Agustus 2012 Rp 5,75, Desember 2012 Rp 17,5, Date of dividend distribution Dividend per share Stock price before the distribution of dividends Stock price after dividend distribution * Diluar nilai dividen interim tahun buku 2011 sebesar Rp 170 miliar. * Excluding the value of fiscal year 2011 interim dividend of Rp 170 billion. 16 PT Golden Energy Mines Tbk / Laporan Tahunan 2012

19 Analisis Manajemen Management Analysis Tata Kelola Perusahaan Good Corporate Governance Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility STRUKTUR PEMEGANG SAHAM / Shareholders Structure PEMEGANG SAHAM / Shareholders PT Dian Swastatika Sentosa Tbk ( lembar saham/ shares) 66,998% GMR Coal Resources Pte. Ltd ( lembar saham/ shares) 30% PT Sinar Mas Cakrawala ( lembar saham/ shares) 0,002% Masyarakat / Public ( lembar saham/ shares) 3% * Direktur tidak terafiliasi Perseroan, Bapak Indradjaja Lazuardi memiliki 500 lembar saham Perseroan * Unaffiliated Director of the Company Mr. Indradjaja Lazuardi holds 500 shares in the Company Pemegang Saham Utama Perseroan Ultimate Shareholders PT SINAR MAS* TEGUH GANDA WIJAYA INDRA WIDJAJA MUKTAR WIDJAJA FRANKY OESMAN WIDJAJA 90,84% 2,29% 2,29% 2,29% 2,29% PT SINAR MAS TUNGGAL MASYARAKAT 59,899% 40,101% PT DIAN SWASTATIKA SENTOSA TBK 66,998% PT GOLDEN ENERGY MINES TBK Catatan / Notes : * PT Sinar Mas dikendalikan oleh keluarga Widjaja * PT Sinar Mas is controlled by the Widjaja family 2012 Annual Report / PT Golden Energy Mines Tbk 17

20 Sekilas GEMS GEMS at a Glance Ikhtisar Keuangan Financial Highlights Laporan Dewan Komisaris Board of Commissioners Report Laporan Direksi Board of Directors Report PENGEMBANGAN SUMBER DAYA MANUSIA Human Resources Development Perseroan meyakini bahwa karyawan merupakan mitra strategis dalam mencapai sukses bisnis Perseroan. Oleh Karena itu, Perseroan fokus pada budaya kinerja tinggi yang selaras dengan nilai-nilai utama Perseroan. The Company believes that employees are strategic partners to reach the Company's business success. Therefore, the Company focuses on high performance which is in line with the Company's core values. Perseroan menyadari bahwa karyawan adalah aset berharga bagi Perseroan, sehingga peningkatan kompetensi setiap Sumber Daya Manusia (SDM) merupakan aktivitas rutin yang telah dan akan terus dilakukan. Kompetensi SDM dan peningkatan kualitas pengelolaan risiko untuk menjamin keberhasilan kinerja, menjadi fokus Perseroan dalam mengembangkan usaha serta menciptakan level kinerja baru yang berkesinambungan jangka panjang. Perseroan yakin, optimalisasi The Company is aware that employees are valuable assets for the Company, thus the improvements of each human resource's (HR) competency become the routine activities that have and will continue to be carried out. HR competency and the improvement of risk management quality in order to ensure successful performance, becomes the focus of the Company in expanding its business and in creating new, continuous and long-term performance level. The Company believes that 18 PT Golden Energy Mines Tbk / Laporan Tahunan 2012

21 Analisis Manajemen Management Analysis Tata Kelola Perusahaan Good Corporate Governance Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility kinerja karyawan yang efektif akan berdampak positif bagi perkembangan kinerja Perseroan. Selain secara konsisten menciptakan lingkungan kerja yang kondusif, serta terus meningkatkan kesejahteraan karyawan dan keluarganya, Perseroan juga bertekad untuk menciptakan pemahaman yang selaras di dalam organisasinya dan membangun hubungan kerja yang harmonis, sehingga baik karyawan dan manajemen dapat bekerja bahu membahu dalam mencapai visi misi Perseroan. optimization of employee performance will have positive impacts on the Company's performance. In addition to consistently creating conducive working environment and continuously improving the welfare of employees and their family members, the Company is also dedicated to creating good understanding which is in line with the organization and building a harmonious working relationship, so that both the employees and the management can work hand in hand to achieve the Company's vision and mission. Proses seleksi rekrutmen karyawan baru dilakukan berdasarkan hasil analisa kebutuhan jangka panjang Perseroan yang dilakukan dengan mempertimbangkan kompetensi karyawan yang ada. The selection process for new recruits is done based on the results of Company's long-term needs analysis which is carried out based on the existing employee's competency Annual Report / PT Golden Energy Mines Tbk 19

22 Sekilas GEMS GEMS at a Glance Ikhtisar Keuangan Financial Highlights Laporan Dewan Komisaris Board of Commissioners Report Laporan Direksi Board of Directors Report Sampai dengan akhir tahun 2012, Perseroan mempekerjakan 672 tenaga-tenaga profesional yang kompeten dan berpengalaman di bidangnya masing-masing. Pencapaian prestasi Perseroan hingga hari ini pun tidak lepas dari dukungan yang diberikan karyawan Perseroan. Selama tahun 2012, Perseroan menyelenggarakan 63 program pelatihan baik teknikal maupun non teknikal dengan jumlah peserta sebanyak 437 karyawan dan total waktu pelatihan hingga jam. Jenis pendidikan dan pelatihan bervariasi mulai dari pelatihan ketrampilan, kompetensi teknis/fungsional, pendidikan keahlian, pendidikan manajerial yang berguna untuk mempertajam kualitas SDM Perseroan, diantaranya: 1. Program Manajemen Dasar Modul 1 2. Program Manajemen Dasar Modul 2 3. Program Pengembangan Pengawasan Modul 1 4. Program Pengembangan Pengawasan Modul 2 5. Manajemen Proyek 6. Keuangan Untuk Staf Non-Keuangan 7. Perencanaan Operasi Pertambangan 8. Tim Tanggap Darurat Badan SAR Nasional 9. Bahasa Inggris untuk Hukum 10. Bahasa Inggris untuk Komunikasi Bisnis Up to the end of 2012, the Company employs 672 professional manpower who are competent and experienced in their respective fields. The Company's performance achievement up to now is also the contribution of the employees. During 2012, the Company conducted 63 training programs both technical and nontechnical, attended by 437 employees with a total of 14,079 training hours. The types of education and training varied including skills training, technical/functional competencies training, specialization training and management training which are useful to increase the quality of Company's HR The topics covered include: 1. Basic Management Program Module 1 2. Basic Management Program Module 2 3. Supervisory Development Program Module 1 4. Supervisory Development Program Module 2 5. Project Management 6. Finance For Non Finance 7. Mining Operations Planning 8. Emergency Response Team-National Search and Rescue Agency 9. English For Law 10. Business English Communication KOMPOSISI SDM BERDASARKAN TINGKAT PENDIDIKAN / Composition of HR based on level of Education Magister Master Degree 5% Sekolah Dasar Elementary School 1% Sarjana Bachelor Degree 50% Sekolah Menengah Pertama Junior High School 3% Diploma Diploma 7% Sekolah Menengah Atas Senior High School 34% KOMPOSISI SDM BERDASARKAN JABATAN / Composition of HR based on Position Wakil Presiden Vice President 1% General Manager General Manager 2% Manager Manager 13% Direktur & Direktur Pengelola Director & Managing Director 1% Non Staf Non Staff 28% Staf Staff 31% Supervisor Supervisor 24% 20 PT Golden Energy Mines Tbk / Laporan Tahunan 2012

23 Analisis Manajemen Management Analysis Tata Kelola Perusahaan Good Corporate Governance Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility KOMPOSISI SDM BERDASARKAN USIA / Composition of HR based on Age tahun years 15% tahun years 2% tahun years 36% >55 tahun >55 years 1% tahun years 44% <20 tahun <20 years 2% Perseroan melakukan survei terstruktur untuk mengetahui tingkat keterlibatan dan kepuasan karyawan. Pengukuran kepuasan karyawan untuk semua jenjang dilakukan dengan dimensi : The Company carried out a structured survey in order to find out employee level of satisfaction. The evaluation of employee satisfaction for all levels was carried out based on: 1. Aspek Pekerjaan 2. Fasilitas dan Lingkungan kerja 3. Komitmen lingkungan pekerjaan 4. Komunikasi dalam lingkungan kerja 5. Pengembangan karir dan pelatihan 6. Kinerja Manajemen 7. Kompensasi dan Benefit 8. Penghargaan 9. Hubungan karyawan 10. Retensi karyawan 11. Manajemen dan kepemimpinan 1. Job aspect 2. Facilities & working environment 3. Commitment at the workplace 4. Communication at the workplace 5. Training & career development 6. Performance management 7. Pay and benefit 8. Reward and recognition 9. Employee relation 10. Employee retention 11. Leadership and management Departemen SDM Perseroan kemudian menindak lanjut hasil survey dengan mengadakan salary survei, program pelatihan berbasis kompetensi dan penerapan Key Performance Indicators (KPI) sebagai salah satu penilaian kinerja karyawan. Dengan hasil survei yang terus menerus mengalami peningkatan, Departemen SDM Perseroan akan melanjutkan peningkatan dan perbaikan yang berkesinambungan demi kesejahteraan karyawan Perseroan. The HR Department of the Company then followed-up on the survey results by conducting a salary survey, competency-based training program and the implementation of Key Performance Indicators (KPI) as one of employee performance appraisals. With the continued improvement in the survey results, the HR Department of the Company will continue to improve employee welfare Annual Report / PT Golden Energy Mines Tbk 21

24 Sekilas GEMS GEMS at a Glance Ikhtisar Keuangan Financial Highlights Laporan Dewan Komisaris Board of Commissioners Report Laporan Direksi Board of Directors Report LAPORAN DEWAN KOMISARIS Board of Commissioners Report 22 PT Golden Energy Mines Tbk / Laporan Tahunan 2012

25 Analisis Manajemen Management Analysis Tata Kelola Perusahaan Good Corporate Governance Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility L. Krisnan Cahya Presiden Komisaris President Commissioner Kepada Para Pemegang Saham yang terhormat, Dear Shareholders, Atas berkat Tuhan Yang Maha Esa, yang berkatnya kami dapatkan dan syukuri, kami ingin menyampaikan apresiasi dan penghargaan kepada semua pihak yang telah berupaya meraih keuntungan di tahun 2012, di tengah banyaknya tantangan dan ancaman terhadap industri pertambangan di Indonesia. Atas kerjasama yang erat, saling menghargai dan mempercayai, serta dedikasi terhadap kinerja tim intelijen yang telah berperan dalam meningkatkan hasil yang lebih baik, kami mengucapkan terima kasih kepada Direksi, manajemen serta seluruh karyawan Perseroan. Kami juga mengucapkan terima kasih kepada Pemerintah Indonesia atas arahan dan bimbingannya, serta kepada seluruh masyarakat setempat yang berada di sekitar wilayah operasional kami, atas kerjasama dan perlindungannya. Kami secara tulus mengharapkan agar semangat keakraban ini terus dapat dipertahankan di tahun 2013 dan di tahun-tahun yang akan datang. Keberhasilan yang mantap dalam penerapan rencana strategis di tahun 2012 yang berkaitan dengan perbaikan, peningkatan dan perluasan fasilitas yang ada dan pendirian GEMS Coal Resources Pte. Ltd. (GEMSCR), sebuah entitas baru untuk kegiatan usaha internasional, yang berbasis di Singapura, untuk memperluas jangkauan ekspor Perseroan dan meningkatkan penetrasi pasar. Walaupun bisnis pertambangan telah memasuki periode permintaan yang lesu dan tekanan harga, Perseroan melaporkan hasil pendapatan yang positif, hasil dari kebijakan dan strategi Perseroan selama tahun yang sulit ini. Pembangunan infrastruktur akan terus ditingkatkan, dan kami telah mengamanatkan Direksi untuk terus melaporkan perkembangan di Nilau, di mana kami membangun fasilitas pelabuhan, dan infrastruktur jalan untuk akses pelabuhan tersebut, beserta Proyek Bunati, yang mencakup perangkat jalur konveyor (line conveyor) dan telescopic chute. Through the Grace of Almighty God, whose blessings we reap and give thanks for, we would like to express our greetings and appreciation to all who have worked to ensure a profitable 2012, in spite of manifold challenges and threats to the mining industry in Indonesia. Close cooperation, mutual trust and respect, and dedication to intelligent teamwork all played a role in the betterment of results, for which we express our gratitude to the Board of Directors, management and all employees of the Company. We also send our grateful appreciation to the Government of Indonesia for its wise guidance and counsel, and to all local communities adjacent to our operations, for their cooperation and protection. We sincerely hope that this amicable spirit will be sustained in 2013 and in years to come. The steady success of the implementation of strategic plans in 2012 dealt with improvements, upgrading, and expansion of existing facilities and the opening of GEMS Coal Resources Pte. Ltd. (GEMSCR), a new subsidiary for international operations, based in Singapore to expand our export reached and intensified market penetration. While the mining business has entered a period of slack demand and depressed prices, the Company reports positive bottom line results, proof of our policies and strategies during this difficult year. Infrastructure continues to be upgraded and we have instructed the Board of Directors to keep us closely informed of developments in Nilau, where we maintain a port, and adjacent road infrastructure, along with the Bunati Project, covering a new line conveyor and telescopic chute apparatus Annual Report / PT Golden Energy Mines Tbk 23

26 Sekilas GEMS GEMS at a Glance Ikhtisar Keuangan Financial Highlights Laporan Dewan Komisaris Board of Commissioners Report Laporan Direksi Board of Directors Report Kami berupaya untuk mempertahankan standar kerja dan pelayanan dalam memenuhi permintaan pelanggan atas kualitas yang handal, jadwal pengiriman yang tepat dan harga yang bersaing. Pencapaian ini terus memotivasi Perseroan untuk tetap meningkatkan kualitas produksi dan layanan pelanggan, saling bekerja sama dengan mitra bisnis Perseroan dan masyarakat setempat, dalam upaya mempertahankan dan menekan biaya serta kerugian Perseroan. Semua itu membutuhkan kerjasama dan kolaborasi dengan para pemangku kepentingan, terutama dengan masyarakat di sekitar wilayah operasi pertambangan Perseroan, yang tentunya memiliki keprihatinan akan dampak lingkungan dan sosial yang mungkin terjadi. Perseroan terus berupaya untuk menjaga lingkungan, yang secara jelas merupakan kepentingan setiap orang untuk hidup secara harmonis dengan alam. Dewan Komisaris menghargai upaya manajemen dalam mencapai keberlangsungan perlindungan terhadap lingkungan dan kami menginstruksikan kepada manajemen untuk meneruskan upaya tersebut di tahun-tahun yang akan datang, menaati aturan-aturan yang berkaitan dengan manajemen ramah lingkungan dalam industri Perseroan. Dewan Komisaris Perseroan telah menyetujui rencana investasi atas sejumlah dana yang cukup signifikan dalam mengembangkan infrastruktur dan berbagai teknik untuk mengatasi hambatan-hambatan dalam peningkatan produksi pertambangan. Dewan Komisaris senantiasa mendukung penerapan prinsip-prinsip Tata Kelola Perusahaan yang Baik (GCG) dalam kegiatan sehari-hari. Hal tersebut akan membantu dalam menghindari permasalahan hukum dan hubungan masyarakat, disisi lain juga dapat meyakinkan para investor bahwa nilai pemegang saham dilindungi oleh Perseroan. GCG tentunya adalah untuk kepentingan jangka panjang bagi para pemangku kepentingan di era keterbukaan. We strive to maintain standards of work and service in order to measure up to customer demands for reliable quality, proper delivery schedules and competitive pricing. This achievement continues to motivate the Company to steadily upgrade production quality and customer service, hand-in-hand with its business partners and local communities, in our quest to maintain quality and reduce costs and losses. It all requires cooperation and collaboration with all stakeholders, particularly those living in communities living around our mining operations, who are naturally concerned about the environmental and social impacts which may ensue. The Company continues to work to protect the environment, as it is clearly in everyone's best interest to live in harmony with nature. The Board of Commissioners appreciate the efforts of the management toward sustainable environmental protection and instructs it to continue these efforts in years ahead, abiding by standing rules related to the environmentally sound management of the industry. The Board of Commissioners of the Company has approved the plan to invest a significant portion of funds to develop infrastructure and varied techniques to overcome barriers to increased mining production. As ever, the Board of Commissioners supports the application of the principles of Good Corporate Governance (GCG) in every activity. This will avoid legal and public relations issues, while assuring investors that shareholder value is being protected by the Company. GCG is without a doubt in the long-term interest of all stakeholders, in an era of transparency. Penerapan prinsip-prinsip Tata Kelola Perusahaan yang Baik (GCG) akan membantu dalam menghindari permasalahan hukum dan hubungan masyarakat, disisi lain juga dapat meyakinkan para investor bahwa nilai pemegang saham dilindungi oleh Perseroan. The application of the principles of Good Corporate Governance (GCG) will avoid legal and public relations issues, while assuring investors that shareholder value is being protected by the Company. 24 PT Golden Energy Mines Tbk / Laporan Tahunan 2012

27 Analisis Manajemen Management Analysis Tata Kelola Perusahaan Good Corporate Governance Tanggung Jawab Sosial Perusahaan Corporate Social Responsibility Dalam konteks kelesuan dan ketidakpastian kondisi ekonomi global, Indonesia tetap mempertahankan stabilitasnya, dan kinerja keuangan Perseroan di tahun ini juga memuaskan, sebagaimana terungkap dalam Laporan Tahunan Perseroan. Kami juga yakin akan prospek bisnis di tahun 2013 sebagaimana diuraikan oleh Direksi di mana permintaan dari India dan Cina akan terus meningkat dan harga batu bara akan membaik di tahun yang akan datang. Oleh sebab itu, kami mengamanatkan Direksi untuk terus menjaga ketat kontrol biaya Perseroan di tahun yang akan datang, sekaligus mempertahankan, meningkatkan dan memperluas bisnis Perseroan. Terdapat potensi tantangan yang sulit, terutama menyangkut kenaikan tarif listrik yang tinggi yang dikenakan oleh PLN, pemasok listrik nasional, dan biaya minyak solar serta bahan-bahan lainnya. Kami percaya bahwa mitra bisnis Perseroan menghargai pentingnya menjaga pengeluaran belanja modal yang realistis, dan berharap Perseroan dapat terus bekerjasama dengan mereka dalam hubungan yang saling menguntungkan. Mewakili Dewan Komisaris, Saya ingin menyatakan kepuasan dan penghargaan Saya kepada Direksi, manajemen dan seluruh karyawan Perseroan atas kinerja dan pencapaian mereka yang patut dihargai di sepanjang tahun 2012, dan semua ini telah dicapai oleh Direksi dengan tetap fokus dalam memberikan yang terbaik bagi Perseroan dan para pemegang saham Perseroan. Kami juga mengucapkan terima kasih serta harapan atas dukungan dan kerjasama yang berkelanjutan dari seluruh pemangku kepentingan dan publik. In the context of a generally gloomy and uncertain global economic, Indonesia stands as a beacon of stability, and the Company's financial performance for the year was also satisfactory, as this Annual Report reveals. We also believe to the business prospect in 2013 as defined by Board of Directors in which the demands from India and China will continue growing and the coal price will get better in the upcoming year. Therefore, we instruct the Board of Directors to continue to maintain strong cost control in the coming year, as we maintain, upgrade and expand our business. Potentially difficult challenges exist, particularly in terms of steep rises in electrical tariffs imposed by PLN, the national electricity supplier, and in the cost of diesel fuel and other consumables. We trust that our valued business partners appreciate the importance of maintaining realistic capital expenditures, and hope we can continue to work with them in a context of mutual benefit. Representing the Board of Commissioners, I would like to express our satisfaction and appreciation to the Board of Directors, management and all employees of the Company for their hard work and notable achievements during 2012 and this was achieved because the Board of Directors has consistently remained focused on delivering the best for the Company and its Shareholders. We also send thanks and the wish for continued support and cooperation from all stakeholders and public. L. Krisnan Cahya Presiden Komisaris President Commissioner 2012 Annual Report / PT Golden Energy Mines Tbk 25