A LEADING CATALYST IN FACILITATING INDONESIA’S INFRASTRUCTURE DEVELOPMENT Role of PT SMI for Accelerating Infrastructure Development in Indonesia Edwin Syahruzad President Director PT Sarana Multi Infrastruktur (Persero) KNKS-BI-ADFIMI Joint Event Seminar Jakarta, November 12 th , 2019 1
Our Business Model PT SMI Business Pillars Pillar #1 Pillar #2 Pillar #3 Source of Funds Sectoral Focus FINANCING & PROJECT FINANCING & ADVISORY PROJECT ADVISORY INVESTMENT DEVELOPMENT INVESTMENT SERVICES DEVELOPMENT SERVICES Transportation Road Irrigation Telecommunication Commercial & Commercial & PPP Project PPP Project Sustainable Capital Injection Sustainable Capital Injection Development Financial Advisory Financing Development from GOI Financial Advisory Financing from GOI Energy • Senior loan Oil and Electricity Efficiency • Junior Loan Gas Conventional • Mezzanine Fund Management Fund Management Capital Market Water Capital Market • Cash Deficiency Support for Geothermal for Geothermal Train Rolling (Bonds, Notes, Investment Resources • Bridging Loan Investment (Bonds, Notes, Infrastructre Infrastructre Stock Wastewater Securitization, • Equity Investment Advisory Advisory Securitization, Development Development Drinking • Arranger & Underwriter Green Bond) Green Bond) Waste Management Water • Partial Credit Guarantee* System Renewable Energy Sharia Renewable Energy Sharia Project Project Sports Arts Financing Financing Loans and Grants Development & Loans and Grants Development & Facilities Facilities Renewable Financing Arranger Financing Arranger Energy Efficiency Energy Efficiency Energy & Energy • IMBT/ Lease with Option Public Conservation to Own Sharia Capital Sharia Capital Housing • Murabahah/Installment Market (Sukuk, Market (Sukuk, Project Preparation Informatics Sale with Deferred Project Preparation Sharia Hedging) Sharia Hedging) Social Infrastructure Payment for Municipal for Municipal • MMQ/Diminishing Health Sharia Financing Correctional Financing Education BPJS / Sharia BPJS / Sharia Partnership Investment Investment (Hospital) Facilities • Musyarakah/Joint Facilities Insurance Advisory Insurance Advisory Partnership & & • IMFZ/Indent Lease with Capacity Building Hajj & Syirkah Financial Capacity Building Hajj & Syirkah Financial Option To Own Regional and Technical Funds and Technical Funds Advisory Tourism Advisory Urban Public Sector Public Sector Infrastructure Assistance Assistance (Sharia) (Sharia) Financing** Financing** Sovereign Wealth Sovereign Wealth Fund Fund *Under development process IMBT= Ijarah Muntahia Bittamlik MMOB= Mudharabah Muqayyadah on Balance Sheet New sectors based on OJK Letter No. S-7/D.05/2019 2 *Previously named Municipal Financing MMQ= Musyarakah Mutanaqisah IMFZ= Ijarah Mausufah Fiz Zimmah
Business Performance Highlights (1) Product & Portfolio Perspectives Advisory & Project Financing & Investment Funding Development 1 Implementation of Partial Credit Assignment new PPP project Program Bonds II stage 1 & Guarantee * • SPAM (water) Kamijoro stage 2 amounting to 2 Assignment Geothermal USD 500 mio Provide financing to 11 municipalities project ( carry over) for infrastructure development • Jailolo 75MW • Waesano 30MW Issuance for Sukuk Mudharabah outside Java amounting to USD 140 mio 8 Technical Assistance (TA RIDF-PDF) The first financing to • Banjarbaru market geothermal project ( PT Geo • North Sulawesi hospital Negotiation for GREM, loan • North Sulawesi Eye hospital Dipa Energy) Dieng Small amounting to USD 40 mio and USD • Tapin hospital (south Borneo) Scale of 10 MW 7.5 mio from GCF , and grant money Total Capacity Building 12x National Strategic Projects amounting to USD 35 mio from CTF • Krian – Legundi – Transaction, Advisory & Arranger Bunder – Manyar Toll Road • PPP Unsolicited (New Jakarta Loopline) & • Cibitung – Cilincing Toll Road Unsolicited LRT Jakarta Koridor 1 dan 2 • PPP Government Multifunctional Satellite The first syndicated financing in tourism • Toba Tourism Zone Develompent zone ( Labuan Bajo) Total Commitment • Li Ka Shing (grant) - disaster recovery at • Loan negotiation for GREM facility USD 150 Palu, Sigi and Donggala USD 5 mio mio from IBRD USD 3.05 bio from • Signing AFD loan amounting to USD • Technical Assistance GGGI - USD 45K for 150 mio for clean energy , renewable 30 SDG partners facilitation of de-risking & USD 5K for WTE Solo FS energy and climate change 3
Business Performance Highlights (2) DFI Function & Financial Perspectives Financial Performance (September 2019) Innovative Financing / Funding AAA/ Stable Highest rating for local company National Rating Sustainable Bridging Sharia Financing Financing BBB/ Stable Financing similar with sovereign rating Cash International Rating Municipal Take-out Innovative Product Deficiency Usd 5.2 Billion Financing Financing Total Asset Support Partial Equity Usd 2.6 Billion De-risking Credit Total Equity Investment product Guarantee Usd 42.6 Billion Total Project Value 1 st GCF Accredited Entity in 1 st Corporate Green South East Asia 19.77 times Multiplier effect Bond in Indonesia Innovative To paid up capital 1 st Sharia Hedging Facility Rp 500 billion Funding in Indonesia USD 128 million “unqualified FS Opinion for 9 Approved PPF for Semarang consecutive years opinion” BRT from GCF 3 “Outstanding Sustainable Project Financing to recognize success in financing Water Supply Project” , The Karlsruhe Sustainable Finance Award , 2019 Total One of the winner of “Indonesian Green Company Award 2019” , SWA “ Indonesian Best Companies in Creating Leaders From Awards Magazine Within 2019 ” , Financial Institution category, SWA Magazine 4
PT SMI’s Mandate as a Catalyst to Support Financing Infrastructure Development Trustworthy institution with Innovative, unique and strong government support, flexible financing products where its shares owned 100% to close the gap and be by the Government through complementary of banking Optimization of Economic & Social Benefit Ministry of Finance products Innovative Financing Trustworthy Institution with Strong Government Measurable Risk Management Products Support Acts as an enabler that A pioneer in issuing accelerates corporate green bond in infrastructure Indonesia, be the first development by providing A Pioneer in company in the capital advisory services and Enabler of Corporate market using global project development Infrastructure Green Bond standard (Green Bond through project Development Issuance in Principles dan ASEAN development facility and Indonesia Bond Standard), which capacity building First institution in certified by CICERO Southeast Asia Strategic accredited by Partnership Green Climate Optimization of Strategic Partnership and Technical The first private institution in Fund Southeast Asia accredited by Assistance from bilateral/multilateral Green Climate Fund (GCF) to organizations to accelerate support Sustainable Development infrastructure development in Goals (SDGs) achievement and Indonesia Climate Change program 5
Execution of Mandate as Catalyst of Infrastructure Development Financing and Investment as of September 2019 PT SMI’s advantages Multiplier Effect Long-term financing USD 42.6 Total project cost* billion** Competitive interest rate 6.16 Multiplier effect to Innovative Financing Product Financing Commitment times Flexible Financing Scheme 19.77 Multiplier effect to Paid-up Capital times Large Multiplier effect Financing Sectors Project Location Mix 11/12/19 PT SMI's project 11/12/19 portfolio is spread 11/12/19 11/12/19 over 34 provinces 11/12/19 11/12/19 in Indonesia 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 11/12/19 **) Exchange Rate: USD 1 = IDR 14,174 *) Include projects that have been settled 6
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