TIDMJAR
RNS Number : 8251Q
Jardine Matheson Hldgs Ltd
30 June 2022
Jardine Matheson Holdings Limited
Extractive Sector: Payments to Governments Report 2021
Introduction
Background
The United Kingdom ("UK") Reports on Payments to Governments
Regulations 2014 (UK Regulations), as amended in December 2015,
require UK companies in the extractive sector to publicly disclose
payments made to governments in the countries where they undertake
extractive operations. The UK Regulations enact domestic rules in
line with Directive 2013/34/EU and apply to large UK incorporated
companies that are involved in the exploration, prospection,
discovery, development and extraction of minerals, oil, natural gas
deposits, or other materials. The aim of Directive 2013/34/EU and
the UK Regulations is to enhance transparency in the extractive
sector by imposing reporting requirements relating to payments to
governments.
The UK's Disclosure Guidance and Transparency Rules extend the
disclosure requirements to companies that have securities listed on
a UK regulated market, including Jardine Matheson Holdings Limited
(in which PT United Tractors Tbk and its subsidiaries, direct and
indirect subsidiaries of PT Astra International Tbk (hereinafter
referred as "Astra"), are its subsidiaries).
Reporting Entities
This report provides an overview of the payments to governments
made by PT United Tractors Tbk and its subsidiaries undertakings,
particularly PT Pamapersada Nusantara and PT Danusa Tambang
Nusantara and their subsidiaries (hereinafter referred to as "UT"),
for the year ended 2021 (1st January - 31st December 2021) in
respect of their activities in the extractive sector which are
located in Indonesia.
Extractive Activities
UT, through their subsidiaries are engaged in extractive
operations as coal and gold mining concession holders in several
locations in Indonesia (North Sumatra, Central Kalimantan, South
Kalimantan and West Nusa Tenggara). PT Pamapersada Nusantara (a
subsidiary of UT) and its subsidiaries are also involved in mining
contracting activities for third parties.
Reporting Principles
Scope and Validity
This Report discloses payments made to governments for
activities related to exploration, discovery, development and
extraction for legal entities involved in extractive
activities.
Government
Government includes any national, regional or local authority of
a country, and includes a department, agency or undertaking (i.e.
state-owned entity) controlled by that authority.
Project
Payment types are required to be reported by project. A project
is defined as the operational activities that are governed by a
single contract, license, lease, concession or similar legal
arrangements and form the basis for payment liabilities with a
government. If multiple and such agreements are 'substantially
interconnected', they are to be treated as a single project.
'Substantially interconnected' means forming a set of operationally
and geographically integrated contracts, licenses, leases or
concessions or related agreements with substantially similar terms
that are signed with a government, giving rise to payment
liabilities.
Reporting Currency
Amounts in this Report are expressed in US Dollars ("USD").
Payments to Government other than in USD are translated based on
the average annual foreign exchange rate.
Materiality
Payments made as a single payment, or as a series of related
payments, that equal or exceed USD118,457 (equivalent to GBP86,000)
during the year, are required to be disclosed.
Payment
All payments on this Report are presented on cash basis.
i. Taxes
These payments represent several taxes levied on the income,
production or profits of companies. These include corporate income
tax and land and building tax for the mining sector. Value added
taxes, personal income taxes, sales (export) taxes, land and
building tax for the non-mining sector, motor vehicle license and
catering service taxes are excluded.
ii. Royaltie s
These payments represent usage-based payments for the right to
extract natural resources which are calculated by a specific
percentage of the sales amount.
iii. Fees
These payments are typically levied on the right to use a
geographical area for exploration, development and production.
There were no payments to government for dividends, bonuses,
production entitlements and infrastructure improvements.
Consolidated Overview
The consolidated overview discloses the sum of Astra's payments
to the Government of Indonesia which presented in Governments
Report and Projects Report.
Governments Report
The following table discloses the sum of Astra's payments per
payment type to the State Treasury (Kas Negara).
(in USD)
Taxes Royalties Fees Total
State Treasury
(Kas Negara) 201,657,389 156,901,829 5,662,564 364,221,782
------------ ------------ ---------- ------------
Projects Report
The table below discloses the sum of Astra's payments per
project and per payment type.
(in USD )
Taxes Royalties Fees Total Governments
Project
------------ ------------ ---------- ------------ ---------------
Kapuas, Central
Kalimantan State Treasury
Project 20,174,244 125,547,506 4,297,256 150,019,006 (Kas Negara)
------------ ------------ ---------- ------------ ---------------
Martabe, North State Treasury
Sumatera Project 66,487,585 29,327,205 873,089 96,687,879 (Kas Negara)
------------ ------------ ---------- ------------ ---------------
Banjar, South
Kalimantan State Treasury
Project 345,906 2,027,118 - 2,373,024 (Kas Negara)
------------ ------------ ---------- ------------ ---------------
North Barito,
Central Kalimantan State Treasury
Project - - 281,435 281,435 (Kas Negara)
------------ ------------ ---------- ------------ ---------------
State Treasury
Sumbawa Project - - 210,784 210,784 (Kas Negara)
------------ ------------ ---------- ------------ ---------------
Entity Level
Payment
------------ ------------ ---------- ------------ ---------------
Pamapersada State Treasury
Nusantara 86,972,552 - - 86,972,552 (Kas Negara)
------------ ------------ ---------- ------------ ---------------
Kalimantan State Treasury
Prima Persada 27,409,302 - - 27,409,302 (Kas Negara)
------------ ------------ ---------- ------------ ---------------
State Treasury
Pama Indomining 267,800 - - 267,800 (Kas Negara)
------------ ------------ ---------- ------------ ---------------
TOTAL 201,657,389 156,901,829 5,662,564 364,221,782
------------ ------------ ---------- ------------ ---------------
This Report is available for download from
https://www.jardines.com/en/about-us/corporate-governance .
Jonathan Lloyd, Jardine Matheson Limited
for and on behalf of Jardine Matheson Holdings Limited
30th June 2022
www.jardines.com
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