TIDMJAR
RNS Number : 5746J
Jardine Matheson Hldgs Ltd
29 June 2017
Jardine Matheson Holdings Limited
Extractive Sector; Payments to Governments Report 2016
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, a subsidiary of PT Astra
International Tbk, is one of its subsidiaries).
Reporting Entities
This Report provides an overview of the payments to governments
made by PT Pamapersada Nusantara and its subsidiary undertakings
(hereinafter referred to as "Pama") for the year 2016 in respect of
its activities in the extractive sector which are located in
Indonesia.
Extractive Activities
Pama, through its indirect subsidiaries are engaged in
extractive operations as a coal and gold mining concession holder
in several locations in Indonesia (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 USD 105,660 (equivalent to GBP
86,000) 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 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 sales amount.
iii. Fees
These payments are typically levied on the right to use a
geographical area for exploration, development and production.
Administrative fees, payments for permits and payments for services
provided by a government are excluded.
There were no payments to Government for dividends, bonuses,
production entitlements and infrastructure improvements.
Consolidated Overview
The consolidated overview discloses the sum of Pama's payments
to Government in Indonesia which presented in Governments Report
and Projects Report.
Governments Report
The following table discloses the sum of Pama's payments per
payment type to State Treasury (Kas Negara).
Taxes Royalties Dividend Bonuses Fees Production Infrastructure Total
Entitlements Improvements USD
--------------- ----------- ---------- -------- ------- --------- ------------- -------------- -----------
State Treasury
(Kas Negara) 124,557,345 31,241,088 - - 2,860,707 - - 158,659,140
--------------- ----------- ---------- -------- ------- --------- ------------- -------------- -----------
Projects Report
The table below discloses the sum of Pama's payments per project
and per payment type.
Taxes Royalties Dividend Bonuses Fees Production Infrastructure Total Governments
Entitlements Improvements USD
------------ ----------- ---------- -------- ------- --------- ------------ -------------- ----------- -----------
Project
------------ ----------- ---------- -------- ------- --------- ------------ -------------- ----------- -----------
Kapuas,
Central Kas Negara
Kalimantan (State
Project 689,214 30,320,191 - - 2,625,623 - - 33,635,028 Treasury)
------------ ----------- ---------- -------- ------- --------- ------------ -------------- ----------- -----------
North
Barito,
Central Kas Negara
Kalimantan (State
Project 195,674 343,020 - - 235,084 - - 773,778 Treasury)
------------ ----------- ---------- -------- ------- --------- ------------ -------------- ----------- -----------
Banjar,
South Kas Negara
Kalimantan (State
Project 306,753 577,877 - - - - - 884,630 Treasury)
------------ ----------- ---------- -------- ------- --------- ------------ -------------- ----------- -----------
Entity Level
Payment
------------ ----------- ---------- -------- ------- --------- ------------ -------------- ----------- -----------
Kas Negara
Pamapersada (State
Nusantara 119,399,465 - - - - - - 119,399,465 Treasury)
------------ ----------- ---------- -------- ------- --------- ------------ -------------- ----------- -----------
Kas Negara
Pama (State
Indomining 543,135 - - - - - - 543,135 Treasury)
------------ ----------- ---------- -------- ------- --------- ------------ -------------- ----------- -----------
Kas Negara
Multi Prima (State
Universal 5,498 - - - - - - 5,498 Treasury)
------------ ----------- ---------- -------- ------- --------- ------------ -------------- ----------- -----------
Kalimantan Kas Negara
Prima (State
Persada 3,417,606 - - - - - - 3,417,606 Treasury)
------------ ----------- ---------- -------- ------- --------- ------------ -------------- ----------- -----------
Total 124,557,345 31,241,088 - - 2,860,707 - - 158,659,140
------------ ----------- ---------- -------- ------- --------- ------------ -------------- ----------- -----------
This Report is available for download from
http://www.jardines.com/investors/regulatory.html.
Neil M McNamara, Jardine Matheson Limited
for and on behalf of Jardine Matheson Holdings Limited
29th June 2017
www.jardines.com
This information is provided by RNS
The company news service from the London Stock Exchange
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