PT SARANA MULTI INFRASTRUKTUR (PERSERO) · IMBT= Ijarah Muntahia Bittamlik MMQ= Musyarakah...
Transcript of PT SARANA MULTI INFRASTRUKTUR (PERSERO) · IMBT= Ijarah Muntahia Bittamlik MMQ= Musyarakah...
A LEADING CATALYST IN FACILITATING INDONESIA’S INFRASTRUCTURE DEVELOPMENT
COMPANY PROFILE
PT SARANA MULTI
INFRASTRUKTUR (PERSERO)
July 2017
PT SMI as a Catalyst in Accelerating Infrastructure Development
Status
Duties
Vision
Mission
▪ Year Established : 2009
▪ Type : State-Owned Enterprise
▪ Regulation : MoF Regulation No.
100/PMK.010.2009 on Infrastructure
Financing Companies
▪ Business License : Non-Bank Financial Institutions (NBFI)
▪ Supporting Government’s infrastructure development
agenda through partnerships with private and/or
multilateral financial institutions in PPP projects
▪ Serve as catalyst in accelerating infrastructure
development in Indonesia
100% owned by the Government of Indonesia
To serve as catalyst in accelerating national infrastructure
development
1. To become a strategic partner that delivers value added
contributions to Indonesia’s infrastructure development
2. To develop flexible financing products
3. To offer service excellence backed with good corporate
governance
Ownership
2
Capital Injection
from GOI
Capital Market
(Bonds, Notes,
Securitization)
Loans and
Grants
BPJS, Sharia
Insurance
Sharia Capital
Market
Hajj & Syirkah
Funds
Sovereign Wealth
Fund
Our Business Model
Sectoral FocusSources of Funds
Co
nve
nti
on
al
Sh
ari
a*
FINANCING &
INVESTMENT
Infrastructure
Financing
Municipal Financing
(PIP/RIDF)
• Senior loan (Working
Capital, Investment
Loan)
• Junior Loan
• Mezzanine
• Equity investment
• Arranger & Underwriter
• Standby Lender PPP
Public Sector
Advisory
Training & Capacity
Building
Investment
Advisory
Financial
Advisory
Project
Development
Facility (PDF)
PDF & Donor Fund
Management
TA & Donor Funds
Management
PPP Project
Renewable Energy Project
(Geothermal Exploration)
Municipal Projects
IMBT/Lease with
Option to Own
Murabahah/Installmen
t Sale with Deferred
Payment
MMQ/Diminishing
Partnership
Musyarakah/
Partnership Financing
Technical
Assistance
CONSULTATION
SERVICES
PROJECT
DEVELOPMENT
Donor Fund
Management
PT SMI Business Pillars
Electricity
& Energy
Efficiency
Road and
Bridge
Transportation Telecommunicatio
n
Irrigation
Oil and
Gas
Waste Water &
Waste Management
Train Rolling
Stock
Water
SupplyRenewable
Energy
Regional
Infrastructure
Correctional
InfrastructureHospital
MarketTourism
Infrastructure
Social Infrastructure
Education
Infrastructure
3IMBT= Ijarah Muntahia Bittamlik MMQ= Musyarakah Mutanaqisah
State Owned Company (BUMN)
• To be strategic partner of government
as a catalyst in the acceleration of the
infrastructure development in Indonesia
• Strong support from the Government
• Capacity Building
• Project Development Facility
• Technical Assistance
Flexible Funding
1
2
3
4
5
Unique product offerings
• Loan, mezzanine, equity
• Municipal financing
• Conventional and Sharia financing
Value Proposition of PT SMI
4
• Capital market
• Multilateral/Bilateral
• Lenders
• Paid up capital
Excellent service and
competency
It is not just the services of
the Relationship Manager
that is important but also the
competency and industry
knowledge
Various Financing and Investment Product of PT SMI
Financing and Investment Product Can Be Applied
Both in Conventional and Sharia Principle
• Investment Loan
• Take-Out
Financing
• Promoter
Financing
• Working Capital
Loan
• Bridging Financing
• Sharia Financing
20-30%
Equity
Equity
Subordinated Loan
Mezzanine
ConvertiblesQu
asi-
Eq
uit
y
Long-Term
(> 5 years)
Short-term
(1-5 years)
Based on Project Financing Structure Based on Project Financing Tenor
Financing and
Investment Product
• Investment Loan
• Take-Out Financing
• Promoter Financing
• Subordinated Loan
• Sharia Financing
• Mezzanine
• Equity Investment
Financing Product
• Working Capital Loan
• Bridging Financing
• Cash Deficiency
Support (CDS)
Pro
ject
Fin
an
cin
g S
tru
ctu
re
70-80%
Debt
5
Project Location Mix
Execution of Mandate as Catalyst of Infrastructure DevelopmentFinancing and Investment
Financing Sectors
Multiplier Effect
Long-term and
Flexible Scheme
Maturity Up to 25 Years
Grace Period Up to 15 Tahun
PT SMI’s Mandate
Long-term financing
Innovative Financing Product
Flexible Financing Scheme
Large Multiplier effect
Competitive interest rate
as of July 2017
Example: Toll Road Financing of
Palembang - Indralaya
Total Project Cost
IDR 264.9 Trillion
Multiplier Effect
5.8 times to Financing
Commitment
9.3 times to Paid-up Capital
Toll Road32.45%
PT PLN (Ex-PIP)17.64%
Electricity15.29%
Transportation8.46%
Oil and Gas6.67%
Telecommunication
4.22%
Road4.10%
Irrigation3.69%
Social (Hospital)…
Rolling Stock2.36%
Water1.65%
Social (Market)0.29%
Social (Terminal)0.08%
Jawa40.90%
Sumatera23.09%
Sulawesi13.58%
Kalimantan 10.49%
Bali Nusa Tenggara
6.26%
Papua Maluku5.69%
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Financed Project CostCommitment and Outstanding
Diversification of Financing Activitiesas of July 2017
*Including loan to PLN, Local Government, and Equity Investment
in IDR billion
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Commitment by Product Outstanding by Product
4.477
2013
1.1963.087
2012
2.2225.5774.262
2015
45.444
2016
44.896
30.442
23.004
17.083
31-Jul-172014
28.985
Outstanding
Commitment
Total
Project Cost
31-Jul-17
41.293
50.084
95.754
2016up to 2013
38.181
20152014
39.642
264.954
Investment
LoanBridge Loan
Working
Capital Loan
Subordinated
Loan
Promoter
Financing
Equity
Investment
IDR27.8 Tr IDR2.9 Tr IDR7.0 Tr IDR1.2 Tr IDR0.7 Tr IDR2.9 Tr
Investment
LoanBridge Loan
Working
Capital Loan
Subordinated
Loan
Promoter
Financing
Equity
Investment
IDR20.8 Tr IDR1.5 Tr IDR2.2 Tr IDR1.1 Tr IDR0.5 Tr IDR1.7 Tr
Investment Loan
65.09%
Working Capital Loan
6.96%
Bridge Loan16.47%
Promotor Financing
1.75%
Subordinated Loan
2.88%
Equity Investment
6.85%
Investment Loan
74.54%
Working Capital Loan
5.46%
Bridge Loan7.85%
Promotor Financing
2.00%
Subordinated Loan
3.84%
Equity Investment
6.31%
1.519
2.339
744598424
226
20142013
+42,1%
Jun-17201620152012
707
305245207107
1.213
20152014
+41,8%
Jun-17201620132012
Net Income (Rp Billion)
46.915
32.714
9.1697.0885.132
+50,5%
Jun-172016
44.332
2015201420132012
Total Asset (Rp Billion)
31.392
25.432
4.7854.5454.310
2012 2013
30.835
2015
+44,3%
Jun-1720162014
Total Equity (Rp Billion)
Financial Performance of PT SMICorporate Rating: AAA
2011 (Audited) 2012 (Audited) 2013 (Audited) 2014 (Audited) 2015 (Audited) 2016 (Audited)
Financial
Statements
Opinion
Unqualified
Opinion
Unqualified
Opinion
Unqualified
Opinion
Unqualified
Opinion
Unqualified
Opinion
Unqualified
Opinion
Soundness LevelA
AAA AA AAA AAA AAA AAA
Rating
DomesticAA/Stable
(Fitch Ratings)
AA+/Stable
(Fitch Ratings)
AA+/Stable
(Pefindo & Fitch)
AA+/Stable
(Pefindo & Fitch)
AAA/Stable
(Pefindo)**
Interna-
tional
BBB-/Stable
(Fitch Ratings)
BBB-/Stable
(Fitch Ratings)
BBB-/Stable
(Fitch Ratings)
BBB-/Stable
(Fitch Ratings)
Total Revenue (Rp Million)
8
Social Economic Benefit of Financed ProjectsAs of July 2017
PT SMI’s Portfolio
Electricity o Generator Capacity
1.791 MW
o Lighting to ±2 million homes
or ±8 million people
Clean Water &
Irrigation
o Clean water production
capacity 14.140 liter/second
o Clean water contribution 2
million homes or 8,1 million
people
o Watering 185 thousand ha
farm area
Toll Roads o Road length 2.019 km
(including public road)
o Absorbs ±1,7 million of
workforce
Air & Sea Port o Servicing 37.5 million
passengers per year (Air
Transport)
o Increases goods flow to 2.26
million TEUs per year (Sea
Transport)
PT SMI’s Portfolio
o Addition of 80 electric train and
438 railway coach
revitalization
o Increases passengers capacity
to 7.3 million per year
Urban Transport
o Addition of 31,000 bpd Fuel
production
o 11.8 million m3 gas per day
o Increases capacity of 10,000 MT
gas supply
o Gas supply of 21,000 homes
Oil and Gas
o Addition of 42 new hospital
rooms
o Facility for 720 new patient/year
Social
Infrastructure
o 52.000 telecommunication
towers projecto Serving 76 million users of
telecommunication services in
Indonesia
o 2.700 KM fiber optic network
Telecommunic
ation
PT SMI’s Portfolio Projects
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Scope of
Business
Advisory Project Development
• Improving the quality of the investment
package of infrastructure projects
• Coordinating the required expertise in
project management (project management
office)
• Enhancing standards of project
governance and execution
• Managing communication and work
strategies between stakeholders
(stakeholder management)
• Helping the project owner in the
readiness of viable investment projects
• Providing consulting services to identify
opportunities and challenges of
infrastructure projects
• Providing services to help obtain or to
utilize investment funds
• Opening access to the project market
(investors, lenders, etc.)
Types of
Product
Project Development Facility
National/
Priority
Regional/
Municipal
Renewables
EnergyFinancial
Advisory
Investment
Advisory
Capacity
Building
Public Sector Private Sector
Advisory and Project Development Business PillarsPlay as an "Enabler“ in Accelerating Infrastructure Development
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PPP Project Status
Palapa
Ring*
Ministry of
Communication
and Informatics
• Western Package: Financial
Close
• Central Package: Financial
Close
• Eastern Package: Financial
Close
Water Supply System
UmbulanEast Java Province
LRT
Medan City of Medan
Pre-Qualification For The
Procurement Of Business
Entity
PT SMI’s Role as the Catalyst in the PPP Project Preparation
through PDF Facility**
Water Supply System
Lampung
Mandate Potentials
Contracting
AgencyProject Value
City of Bandar
Lampung
Government Support
Rp 2.05 Trillion(~USD 183.52 Million)
Rp 700 Billion(~USD 52.52 Million)
Rp 6.40 Trillion(~USD 479.51 Million)
• Govt Guarantee through IIGF
• Viability Gap Funding (VGF)
• Govt Guarantee through IIGF
• Viability Gap Funding (VGF)
• Govt Guarantee through IIGF
• Viability Gap Funding (VGF)
• Govt Guarantee through IIGF
Financial Close
OBC done, Arranging FBC
* Palapa Ring project uses the Availability Payment scheme as the investment return mechanism ** PDF is the Project Development Facility
West Package
Middle
Package
East Package
Rp 1.28 Trillion(~USD 96.05 Million)
Rp 1.38 Trillion(~USD 103.55 Million)
Rp 5.09 Trillion(~USD 381.93 Million)
Toll Road SectorHospital
SectorWater Supply
System Sector2 1 2
11Exchange Rate: 1 USD = Rp13,327
Sam Ratulangi
University Hospital
Ministry of Research
and Higher
Education
MOF Principle ApprovalToll Road of Surabaya-
Madura Bridge
Ministry of Public
WorksRp 1.3 Trillion(~USD 1 00 Million)
Rp 387,23Billion(~USD29.01 Million)
• -
• - MOF Principle Approval
Sustainable Finance
Initiatives
The Role of PT SMI as a Catalyst in Infrastructure Projects
For Supporting Sustainable Development Goals (SDGs)
1. Establishment of Sustainable
Finance Division
2. PT SMI has been accredited
by Green Climate Fund
(GCF)
3. Signing of Accreditation
Master Agreement (AMA)
with GCF
Environmental and
Safety Management
Frameworks (ESMF)
1. PT SMI actively support
Sustainable Development
Goals (SDGs)
2. Guidelines of Environmental
and Safety Management
Frameworks (ESMF)
3. Public Consultation of ESMF
guidelines
1. Managing geothermal fund
from the Government
Investment Agency (PIP)
(Rp 3,1 trillion)
2. Grant Agreement with the
World Bank Group (CTF and
GEF Fund) with amounting of
USD 55,25 million for the
exploration of geothermal
energy
Geothermal Fund
Init
iati
ves
Activitie
s
1 2 3
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Co-Financing
Strategic Partnerships in Co-Financing Activities
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Strategic Partnerships with Bilateral/Multilateral Institutions
Bilateral/Multilateral Institution
Agence Francaise de
Developpement (AFD)
Soft Loan + Grant for
Energy Efficiency and
Renewable Energy
Scope of
Cooperation
Asian Development Bank
(ADB)MoU for PPP
Transaction Advisory
Cities Development Initiative
for Asia (CDIA)
Capacity Building
related with urban
development
Temasek FoundationCapacity Building
related with PPP
Korea Development Bank
(KDB)
MoU for PPP
Exchange of
Information
Scope of
Cooperation
World Bank Group
Asian Infrastructure
Investment Bank (AIIB)
• Geothermal Fund
(GEF and CTF)
• RIDF for Municipal
Financing
Asian Development Bank
(ADB) dan German
Development Bank (KfW)
SIGAP Program
• Environmental
ESMS
• TA for Municipal
Financing
Islamic Development Bank
(IDB)
MoU for Indonesia
Investment Fund and
Cooperation
Green Climate Fund (GCF)PT SMI as
Accredited Entity
Gesellschaft für Internationale
Zusammenarbeit (GIZ)
(Under Discussion)*
Soft Loan + Grant
• Renewable Energy
• Energy Efficiency
Street Lighting
• Sustainable Urban
Transport (BRT)
14
Bilateral/Multilateral Institution
*The partnership is under discussion
Korea Development Bank (KDB)
China Development Bank (CDB)
Development Bank of Japan
(DBJ)
Benchmarking Studies
and Information
Sharing
Bajulmati Reservoir,
Banyuwangi
Electric Train Rolling Stock
Project for INKA
Soekarno Hatta
Airport Rail Link
Water Supply Project
Jakarta
Mini Hydro Power Plant,
Mobuya, North Sulawesi
Coal-Fired Power Plant
Tanah Grogot, East Kalimantan
Coal Gasification Power Plant,
West Kutai
Bridge Project
Kali Api, Manokwari
Dekai-Oksibil
Road Project, Papua
Hydro Power Plant
Asahan, North Sumatera
Hydro Power Plant, Humbahas,
North Sumatera
Mini Hydro Power Plant South
Solok, West Sumatera
Mini Hydro Power Plant
Lebong, Bengkulu
Citarum Drainage Project,
Karawang-Bekasi, West Java
Cikopo-Palimanan Highway
West Java
Gas-Fired Power Plant,
Tanjung Uncang, Batam
Umbulan Water Spring,
East Java
Ngawi – Kertosono Toll Road
River Kujang Drainase
Project, Samarinda
Paselloreng Dam Project,
Wajo, South Sulawesi
Bridge Wariki
Project Manokwari
Tugu Station and Pedestrian
Revitalization, Yogyakarta
Lolak Dam, Bolaang
Mongondow, North Sulawesi
Wundulako Irrigation
Kolaka, Southeast Sulawesi
Jeneponto-Bantaeng Road,
South Sulawesi
Wind Energy Power Plant
Sumba and Lebak
Cinere - Jagorawi
Toll Road, West Java
Coal Train, East
KalimantanCoal-Fired Power
Plant Project, Gorontalo
Bulk Port, Tuban
East Java
Bulk Port, Gresik
East Java
Marisa Port,
Gorontalo
Floating, Storage
Offloading, Madura
Floating, Storage Offloading
Natuna, Riau Islands
Mass Rapid Transit
Project, Surabaya
Logistic Murphy Semai Oil,
Fakfak
Arar Port Project
Sorong
Container Port Project Development
and Supporting Facilities at Palaran
Port, East Kalimantan
Solo – Ngawi Toll Road
• BTS Tower, Shelter
throughout Indonesia
• Working Capital in
Telecommunication
Port Container & Cigading
Port, Cilegon
Mini Hydro Power Plant, South
Solok, West Sumatera
Investment Planning Project at
Lombok Airport (Development)
Panaran Gas-Fired Power
Plant, Batam
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Passenger Terminal Project
Supadio Airport
Pontianak, West Kalimantan
56
56
Expansion Project of Tanjung Priok
Port, Jakarta57
Soekarno-Hatta Airport
Development
Gas Pipeline Construction,
Batam58
58
57
Electrical Substation at
Kalibaru Port, Tanjung Priok
Corporate Business Plan, Banten
Activity Based Costing, Tanjung
Perak Surabaya, East Java
59
60
61
59
60
61
Medan – Binjai Toll Road
(Trans Sumatera Toll Road),
North Sumatera
Pejagan – Pemalang Toll
Road (Trans Java Toll
Road), Cenral Java
62
Semarang-Solo Toll Road,
Central Java
Working Capital for
Toll Road Improvement,
Central & East Java
63
Working Capital for Port
Operations, Banten
Power Plant, Musi Banyuasin
South Sumatera
Power Plant, Kendari
Southeast Sulawesi
Mandalika Special Economic
Zones, Lombok, West Nusa
Tenggara
Biogas Power Plant, Rokan Hulu
Riau
2
64
Leasing Rolling Stock Scheme in
corporation with PT KAI, Jakarta
65
67
Electricity Capex
Projects
Lavalette Hospital, Malang
East Java68
68
69 Port Development project in
Jayapura
70
70
7071
proyek | Advisory Servicesproyek | Financing and Investment 20proyek | Project Development670
Palembang – Indralaya Toll
Road (Trans Sumatera Toll
Road), South Sumatera
Coal-Fired Power Plant,
Lobam, Bintan
Jabung Irrigation Project,
East Lampung
Water Treatment & Supply,
Cipasauran, Banten
Gas Pipeline Construction
for Households, Tarakan,
West Kalimantan
34
72
73Lampung City Water Treatment
Project, Bandar Lampung
73
69
Marunda Port Project
West Java
Palaran Port Project,
Samarinda, East Kalimantan
74
proyek | Equity2
New Jogja International Airport
Jogjakarta
Bakauheni – Terbanggi Besar
(Trans Sumatera Toll Road),
Lampung
Bogor Toll Ring Road
West Java
Palembang Light Rapid
Transit (LRT) Project
South Sumatera
Garongkong Port
South Sulawesi
Central Palapa Ring
Project
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Rentang Irrigation
Majalengka, West Java
76
Water Treatment & Supply
Project, Tegal Gede, Bekasi19
Project Preparation for Water
Supply Project, Karawang,
West Java
Titab Reservoir Project
Buleleng, Bali62
Financial Advisor for Kertajati
Airport Development, West Java
63Waste to Energy Project,
Nambo, West Java
Case Study of Integrated
Railway and Kualanamu
Airport, North Sumatera64
Mini Hydro Power Plant
Lau Gunung, North Sumatera65
Coal-Fired Power Plant
Tenayan, Riau66
Sosok – Tayan & Tanjung –
Sanggau Road, West Kalimantan
67
Entikong Borderline Road,
West Kalimantan
Palapa Ring Project70
Local Government
infrastructure
development
assistance
71
Penajam Port Project,
East Kalimantan72
Jasamarga Pandaan
Malang Toll Road74
Waskita Toll Road
75Gas-Fired Power Plant
Megang, South Sumatera
Coal-Fired Power Plant
Sumsel 300 MW
South Sumatera
76 Rotiklot Dam, Belu
NTT
Portfolio Distribution Across Indonesia
Best Local
Strategic
Partner
Expertise in
Indonesian
Infrastructure
Market
Liaison with
Local
Authorities
Provide
Advisory and
other services
Government
Arm’s Length
Public and Private Sector Strategic Partner to
Accelerate The Development Of Infrastructure
Have extensive
experience in the
Indonesian
infrastructure market
Have extensive networking
with local authoritiesProvide advisory and catalytic activities
(knowledge and technical support)
100% owned by
Government of
Indonesia under
Ministry of FinanceInfrastructure
Financing
Company
Why Collaborate with PT SMI?
PT SMI will be the Best Local Strategic Partner and Liaison for Investing
in Indonesian Infrastructure Market
16
Institutional &
Public/Private
Investor
A LEADING CATALYST IN FACILITATING INDONESIA’S INFRASTRUCTURE DEVELOPMENT
THANK YOU
Contact Us:
PT Sarana Multi Infrastruktur (Persero)
Sahid Sudirman Center, 48th Fl.
Jl. Jend. Sudirman No. 86, Jakarta 10220
Indonesia
(62-21) 8082 5288 (hunting),
(62-21) 8082 5258 (fax)
Website : www.ptsmi.co.id
Email : [email protected]
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