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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