REG - Jardine Matheson Hdg - Extractive Sector: Payments to Govts Report 2021

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30/06/2022 10:45

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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.     Royalties

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 Project        20,174,244   125,547,506  4,297,256  150,019,006  State Treasury (Kas Negara)
 Martabe, North Sumatera Project           66,487,585   29,327,205   873,089    96,687,879   State Treasury (Kas Negara)
 Banjar, South Kalimantan Project          345,906      2,027,118    -          2,373,024    State Treasury (Kas Negara)
 North Barito, Central Kalimantan Project  -            -            281,435    281,435      State Treasury (Kas Negara)
 Sumbawa Project                           -            -            210,784    210,784      State Treasury (Kas Negara)
 Entity Level Payment
 Pamapersada Nusantara                     86,972,552   -            -          86,972,552   State Treasury (Kas Negara)
 Kalimantan Prima Persada                  27,409,302   -            -          27,409,302   State Treasury (Kas Negara)
 Pama Indomining                           267,800      -            -          267,800      State Treasury (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
(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 (http://www.jardines.com)

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