TIDMJAR
RNS Number : 8277D
Jardine Matheson Hldgs Ltd
28 June 2019
Jardine Matheson Holdings Limited
Extractive Sector: Payments to Governments Report 2018
Introduction
Background
The 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. These 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 Pamapersada Nusantara and PT Danusa Tambang Nusantara,
indirect subsidiaries of PT Astra International Tbk (hereinafter
referred to as "Astra"), are two of its subsidiaries).
Reporting Entities
This Report provides an overview of the payments to governments
made by PT Pamapersada Nusantara and its subsidiaries undertakings
(hereinafter referred to as "Pama"), and PT Danusa Tambang
Nusantara and its subsidiaries undertakings (hereinafter referred
to as "Danusa") for the year ended 2018 (1st January - 31st
December 2018) in respect of their activities in the extractive
sector which are located in Indonesia.
PT Agincourt Resources was acquired by PT Danusa Tambang
Nusantara in 2018. A full year's activities of PT Agincourt
Resources are included in this report.
Extractive Activities
Pama and Danusa, through their subsidiaries are engaged in
extractive operations as a coal and gold mining concession holder
in several locations in Indonesia (North Sumatra, Central
Kalimantan, South Kalimantan and West Nusa Tenggara). Pama is 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.
corporation) 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, licence, 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, licences, 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 USD114,362 (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 mining sector. Value added taxes,
personal income taxes, sales (export) taxes, land and building tax
for non-mining sector, motor vehicle licence 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 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 Government in 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 State Treasury (Kas Negara).
(in USD currency)
Taxes Royalties Fees Total
State Treasury
(Kas Negara) 328,560,547 87,864,366 4,440,039 420,864,952
------------ ----------- ---------- ------------
Projects Report
The table below discloses the sum of Astra's payments per
project and per payment type.
(in USD currency)
Taxes Royalties Fees Total Governments
Project
------------ ----------- ---------- ------------ ---------------
Kapuas, Central
Kalimantan State Treasury
Project 59,466,806 66,178,440 3,779,727 129,424,973 (Kas Negara)
------------ ----------- ---------- ------------ ---------------
Martabe, North State Treasury
Sumatra Project 106,341,382 21,322,794 660,312 128,324,488 (Kas Negara)
------------ ----------- ---------- ------------ ---------------
Banjar, South
Kalimantan State Treasury
Project 128,083 363,132 - 491,215 (Kas Negara)
------------ ----------- ---------- ------------ ---------------
Entity Level
Payment
------------ ----------- ---------- ------------ ---------------
Pamapersada State Treasury
Nusantara 143,368,235 - - 143,368,235 (Kas Negara)
------------ ----------- ---------- ------------ ---------------
State Treasury
Pama Indomining 537,939 - - 537,939 (Kas Negara)
------------ ----------- ---------- ------------ ---------------
Multi Prima State Treasury
Universal 4,072 - - 4,072 (Kas Negara)
------------ ----------- ---------- ------------ ---------------
Kalimantan State Treasury
Prima Persada 18,714,030 - - 18,714,030 (Kas Negara)
------------ ----------- ---------- ------------ ---------------
TOTAL 328,560,547 87,864,366 4,440,039 420,864,952
------------ ----------- ---------- ------------ ---------------
This Report is available for download from
http://www.jardines.com/en/ir/regulatory.html.
Jonathan Lloyd, Jardine Matheson Limited
for and on behalf of Jardine Matheson Holdings Limited
28th June 2019
www.jardines.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
PGREANKPADANEEF
(END) Dow Jones Newswires
June 28, 2019 05:34 ET (09:34 GMT)
Jardine Matheson Holding... (LSE:JAR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Jardine Matheson Holding... (LSE:JAR)
Historical Stock Chart
From Apr 2023 to Apr 2024