Professional Documents
Culture Documents
0DLO
$GGUHVVHV
&KHFN0DLO
,QER[
&DOHQGDU
1RWHSDG
0DLO8SJUDGHV 0DLO2SWLRQV
6HDUFK0DLO
'HOHWH
>$GG (GLW@
'DWH
>(PSW\@
:KDW
V\RXU&UHGLW
6FRUHFKHFNLW)5((
NORDQIRU
PR*R
0DVWHU&DUGIRU
&UHGLW5HKDE
5HSO\
6HDUFKWKH:HE
3ULQWDEOH9LHZ )XOO+HDGHUV
)RUZDUG
0RYH
)URP
7UDVK
3UHYLRXV _1H[W_%DFNWR0HVVDJHV
'UDIW
6HQW
6HDUFK
:HOFRPH\XVXIDQVKDU
>6LJQ2XW0\$FFRXQW@
&RPSRVH
)UHH&RORU
)OLS3KRQHV
)ROGHUV
3DJH RI
6XQ'HF367
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!
$GGWR$GGUHVV%RRN
6XEMHFW LQJLQWDKX
7R
XOLO#\DKRRFRP
6DODPVHMDKWHUDXQWXN$QGDGDQUHNDQVHPXD6D\DLQJLQPHQJHWDKXLOHELK
PHQGDODPWHQWDQJSHPLNLUDQ,VODP/LEHUDO6HMXMXUQ\DVD\DDGDODKRUDQJ\DQJ
DZDP\DQJWLGDNSHUQDKPHQJHFDPSHQGLGLNDQIRUPDO\DQJWLQJJLEDLNGDODP
LOPXDJDPDPDXSXQXPXP6D\DKDQ\DOXOXV60$SHUQDKVHPSDWNXOLDKGL
37GDQ'WDSLVHPXDQ\DSXWXVGLWHQJDKMDODQ6D\DOHELKVHQDQJEHODMDU
PDQGLULDXWRGLGDNWHUXWDPDOHZDWPHPEDFDEXNXEXNXEDLNEXNXXPXP
WHUXWDPDEXNXDJDPD,VODP2OHKNDUHQDVD\DRUDQJDZDPVD\DPHQJKDUDS
XUDLDQ$QGDWLGDNGHQJDQEDKDVD\DQJVXNDUQMOLPHW6HVXDLGHQJDQSHVDQ
5DVXOXOODKVDZ%HUELFDUDODKNHSDGDPDQXVLDVHVXDLGHQJDQNDGDUDNDO
PHUHND6D\DUDVD$QGDPHQHULPD+DGLWVGLDWDVNDUHQD+DGLWVWVEDJDNQ\D
WLGDNEHUWHQWDQJDQGHQJDQLOPXSVLNRORJLNRPXQLNDVLPRGHUQ'DQVHWDKXVD\D
-,/PHQHULPDKDO\JGHPLNLDQ0XGDKDQ$QGDEHUVHGLDPHPEDJL
SHQJHWDKXDQGHQJDQVD\D\JDZDPLQLGDQWHULPDNDVLKVHEHOXPQ\D
:DVVDODP
<XVXI
'R\RX<DKRR"
<DKRR0DLO +HOSVSURWHFW\RXIURPQDVW\YLUXVHV
'HOHWH
5HSO\
)RUZDUG
0RYH
3UHYLRXV _1H[W_%DFNWR0HVVDJHV
&KHFN0DLO
&RPSRVH
6DYH0HVVDJH7H[W
6HDUFK0DLO
6HDUFKWKH:HE
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
0DLO
$GGUHVVHV
&KHFN0DLO
,QER[
7UDVK
)UHHVKLSSLQJ
RUGHUV
%DG&UHGLW
*UHDW&DUG
1RWHSDG
0DLO8SJUDGHV 0DLO2SWLRQV
6HDUFK0DLO
'HOHWH
>$GG (GLW@
)URP
>(PSW\@
5HSO\
)RUZDUG
6HDUFKWKH:HE
3ULQWDEOH9LHZ )XOO+HDGHUV
6SDP
0RYH
7KLVPHVVDJHLVQRWIODJJHG>)ODJ0HVVDJH 0DUNDV8QUHDG @
'DWH
7LVWKHVHDVRQIRUD
)5((&UHGLW6FRUH
NORDQIRU
PR*R
&DOHQGDU
'UDIW
6HQW
6HDUFK
:HOFRPH\XVXIDQVKDU
>6LJQ2XW0\$FFRXQW@
&RPSRVH
&HOO3KRQH
1R&UHGLW&KHFN
)ROGHUV
3DJH RI
0RQ'HF367
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP!
6XEMHFW 5HLQJLQWDKX
7R
9LHZ&RQWDFW'HWDLOV
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!
6DODP
6LODKNDQPHQJXQMXQJLVLWXV-,/ZZZLVODPOLEFRP6HPXD
EDKDQEDKDQ\DQJDQGDEXWXKNDQWHQWDQJ-,/DGDGL
VDQD
6HODPDWPHPEDFD
8OLO
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!ZURWH
!6DODPVHMDKWHUDXQWXN$QGDGDQUHNDQVHPXD6D\D
!LQJLQPHQJHWDKXLOHELKPHQGDODPWHQWDQJSHPLNLUDQ
!,VODP/LEHUDO6HMXMXUQ\DVD\DDGDODKRUDQJ\DQJ
!DZDP\DQJWLGDNSHUQDKPHQJHFDPSHQGLGLNDQIRUPDO
!\DQJWLQJJLEDLNGDODPLOPXDJDPDPDXSXQXPXP6D\D
!KDQ\DOXOXV60$SHUQDKVHPSDWNXOLDKGL37GDQ'
!WDSLVHPXDQ\DSXWXVGLWHQJDKMDODQ6D\DOHELK
!VHQDQJEHODMDUPDQGLULDXWRGLGDNWHUXWDPDOHZDW
!PHPEDFDEXNXEXNXEDLNEXNXXPXPWHUXWDPDEXNX
!DJDPD,VODP2OHKNDUHQDVD\DRUDQJDZDPVD\D
!PHQJKDUDSXUDLDQ$QGDWLGDNGHQJDQEDKDVD\DQJVXNDU
!QMOLPHW6HVXDLGHQJDQSHVDQ5DVXOXOODKVDZ
!%HUELFDUDODKNHSDGDPDQXVLDVHVXDLGHQJDQNDGDU
!DNDOPHUHND6D\DUDVD$QGDPHQHULPD+DGLWVGL
!DWDVNDUHQD+DGLWVWVEDJDNQ\DWLGDNEHUWHQWDQJDQ
!GHQJDQLOPXSVLNRORJLNRPXQLNDVLPRGHUQ'DQVHWDKX
!VD\D-,/PHQHULPDKDO\JGHPLNLDQ0XGDKDQ$QGD
!EHUVHGLDPHPEDJLSHQJHWDKXDQGHQJDQVD\D\JDZDPLQL
!GDQWHULPDNDVLKVHEHOXPQ\D
!
!:DVVDODP
!<XVXI
!
!
!
!'R\RX<DKRR"
!<DKRR0DLO+HOSVSURWHFW\RXIURPQDVW\YLUXVHV
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
0DLO
$GGUHVVHV
&KHFN0DLO
3DJH RI
6HDUFK
:HOFRPH\XVXIDQVKDU
>6LJQ2XW0\$FFRXQW@
&DOHQGDU
1RWHSDG
0DLO8SJUDGHV 0DLO2SWLRQV
&RPSRVH
3UHYLRXV _1H[W _%DFNWR0HVVDJHV
&HOO3KRQH
1R&UHGLW&KHFN
)ROGHUV
,QER[
'HOHWH
>$GG (GLW@
7UDVK
)URP
>(PSW\@
:KDW
V\RXU&UHGLW
6FRUHFKHFNLW)5((
NORDQIRU
PR*R
*HW<RXU+RW
/RZ5DWHV1RZ
$SSO\1RZIRUD
3ODWLQXP&DUG
5HSO\
)RUZDUG
6HDUFKWKH:HE
3ULQWDEOH9LHZ )XOO+HDGHUV
0RYH
7KLVPHVVDJHLVQRWIODJJHG>)ODJ0HVVDJH 0DUNDV8QUHDG @
'DWH
'UDIW
6HQW
6HDUFK0DLO
7XH'HF367
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!
$GGWR$GGUHVV%RRN
6XEMHFW WHQWDQJNDOLDQ
7R
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP!
6HWHODKVD\DPHPEXNDEXNDGDQPHQHODDKEHEHUDSDOLQNGDODPVLWXVLVODPOLE
XWDPDQ\DOLQN7HQWDQJ.DPLVD\DDNKLUQ\DPHQJDPELONHVLPSXODQ
PHQJHQDL,VODP/LEHUDOVEE
,VODP/LEHUDODGDODKVXDWXEHQWXNSHQDIVLUDQWHUKDGDS,VODPVHFDUDEHEDV
GHQJDQPHQJDEDLNDQDTLGDKGDQTDLGDK\DQJDGDGDODP,VODPLWXVHQGLUL
6LVWLPSHPLNLUDQVHSHUWLLQLMHODVEDWKLOGDQVHVDW.HQDSDGHPLNLDQ"%HJLQL
ORJLNDQ\D
F1DKNDUHQD-,/WLGDNPHQJJXQDNDQDTLGDKGDQTDLGDK,VODPVHFDUDGLVLSOLQ
GDQNRQVLVWHQNHFXDOL\DQJVHVXDLGHQJDQVHOHUDEHUSLNLUQ\DGDODP
PHODNXNDQSHQDIVLUDQEDJDLPDQDPXQJNLQOD\DNXQWXNGLWHULPDVHEDJDLEDJLDQ
GDUL,VODP%DKNDQVXGDKVHSDQWDVQ\DNDODXPHQXUXW,VODPVHNDOLODJL
PHQXUXW,VODP-,/DGDODKVHVDWGDQNHOXDUGDUL,VODPPHVNLSXQPHQXUXW
SHPLNLUDQOLEHUDOVDKVDKVDMD-DGLEHUWDXEDWODK
'DQWLQJJDONDQODKRUDQJRUDQJ\DQJPHQMDGLNDQDJDPDPHUHNDVHEDJDL
SHUPDLQDQGDQVHQGDJXUDXGDQNHKLGXSDQGXQLDWHODKPHQLSXPHUHND'DQ
SHULQJDWNDQODKPHUHNDGHQJDQ$O4XUDQLWXDJDUPDVLQJPDVLQJGLULWLGDN
GLMHUXPXVNDQNHGDODPQHUDNDNDUHQDSHUEXDWDQQ\DVHQGLUL46
2UDQJRUDQJ\DQJPHQMDGLNDQDJDPDPHUHNDVHEDJDLSHUPDLQDQGDQVHQGD
JXUDXGDQNHKLGXSDQGXQLDWHODKPHQLSXPHUHNDPDNDSDGDKDULNLDPDWLQL
.DPLPHOXSDNDQPHUHNDVHEDJDLPDQDPHUHNDPHOXSDNDQSHUWHPXDQPHUHND
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
3DJH RI
6DODP
6LODKNDQPHQJXQMXQJLVLWXV-,/ZZZLVODPOLEFRP6HPXD
EDKDQEDKDQ\DQJDQGDEXWXKNDQWHQWDQJ-,/DGDGL
VDQD
6HODPDWPHPEDFD
8OLO
'R\RX<DKRR"
<DKRR0DLOQRZZLWK0%IUHHVWRUDJH/HDUQPRUH
'HOHWH
5HSO\
)RUZDUG
0RYH
&RPSRVH
6DYH0HVVDJH7H[W
6HDUFK0DLO
6HDUFKWKH:HE
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
0DLO
$GGUHVVHV
&KHFN0DLO
6HDUFK
:HOFRPH\XVXIDQVKDU
>6LJQ2XW0\$FFRXQW@
&DOHQGDU
1RWHSDG
0DLO8SJUDGHV 0DLO2SWLRQV
&RPSRVH
)ROGHUV
,QER[
'HOHWH
>$GG (GLW@
6HDUFKWKH:HE
6HQW
7UDVK
)URP
>(PSW\@
:KDW
V\RXU&UHGLW
6FRUHFKHFNLW)5((
.ORDQIRU
RQO\PRQWK
5HSO\
)RUZDUG
3ULQWDEOH9LHZ )XOO+HDGHUV
6SDP
0RYH
7KLVPHVVDJHLVQRWIODJJHG>)ODJ0HVVDJH 0DUNDV8QUHDG @
'DWH
'UDIW
*HW<RXU+RW
/RZ5DWHV1RZ
6HDUFK0DLO
3UHYLRXV _1H[W _%DFNWR0HVVDJHV
&HOO3KRQHZLWK
1R&UHGLW&KHFN
$&UHGLW&DUG
IRU<RX
3DJH RI
6XQ'HF367
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP!
6XEMHFW 5HWHQWDQJNDOLDQ
7R
9LHZ&RQWDFW'HWDLOV
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!
6DODP
6HEDLNQ\DDQGDEHODMDUGDQPHPEDFDOHELKEDQ\DNDJDU
WLGDNPXGDKPHQJDQJJDSEDWKLOVXDWXLGH
,VODPWLGDNPHPEXWXKNDQRUDQJRUDQJ\DQJSLFLNSLNLUDQ
GDQVXNDPHQ\HVDWNDQVHVDPD0XVOLP
%DFDODJLGDQEDFDOHELKEDQ\DNODJL
8OLO
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!ZURWH
!6HWHODKVD\DPHPEXNDEXNDGDQPHQHODDKEHEHUDSDOLQN
!GDODPVLWXVLVODPOLEXWDPDQ\DOLQN7HQWDQJ.DPL
!VD\DDNKLUQ\DPHQJDPELONHVLPSXODQPHQJHQDL,VODP
!/LEHUDOVEE
!
!,VODP/LEHUDODGDODKVXDWXEHQWXNSHQDIVLUDQ
!WHUKDGDS,VODPVHFDUDEHEDVGHQJDQPHQJDEDLNDQ
!DTLGDKGDQTDLGDK\DQJDGDGDODP,VODPLWXVHQGLUL
!6LVWLPSHPLNLUDQVHSHUWLLQLMHODVEDWKLOGDQVHVDW
!.HQDSDGHPLNLDQ"%HJLQLORJLNDQ\D
!
!D6HPXDXSD\DSHQDIVLUDQSHPLNLUDQVHEHEDVDSDSXQ
!GLDWHQWXPHQJJXQDNDQPHWRGHNDLGDKDWDXSURVHV
!EHUSLNLUWHUWHQWXNDODXWLGDNGHPLNLDQLWXEXNDQ
!WDIVLUVHEDJDLEXDKSLNLUPHODLQNDQOHELKSDQWDV
!GLVHEXWQJDZXUQJODQWXUDWDXQJOLQGXU
!.HVLPSXODQQ\DWLGDNDGDSHPLNLUDQ\DQJEHEDVQLODL
!GLDKDUXVPHQJJXQDNDQNDLGDKEHUSLNLUWHUWHQWXDJDU
!GLDNXLVHEDJDLEXDKGDULVXDWXSURVHVEHUSLNLU
!
!E,VODPPHPLOLNLVHMXPODKQLODLQLODLDTLGDKGDQ
!TDLGDKLWXSDVWLGDQLWXGLDNXLROHK-,/VHQGLUL
!WHUOHSDVGDULDGDQ\DVHMXPODKSHUEHGDDQSHQGDSDW
!WHUKDGDSEHEHUDSDPDWHULGDODPDTLGDKTDLGDK
!WHUVHEXW1LODLQLODLLWXODK\DQJKDUXVGLJXQDNDQ
!DJDUEXDKSHPLNLUDQSHQDIVLUDQNLWDWHUKDGDS,VODP
!PHQGDSDWSHQJDNXDQVHEDJDLEDJLDQGDUL,VODP
!6HEDJDLPDQDKDOQ\DVHEXDKNDU\DLOPLDKGDODPELGDQJ
!LOPXWHUWHQWXWLGDNDNDQPHQGDSDWSHQJDNXDQDSDDSD
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
0DLO
$GGUHVVHV
&KHFN0DLO
3DJH RI
6HDUFK
:HOFRPH\XVXIDQVKDU
>6LJQ2XW0\$FFRXQW@
&DOHQGDU
1RWHSDG
0DLO8SJUDGHV 0DLO2SWLRQV
&RPSRVH
3UHYLRXV _1H[W _%DFNWR0HVVDJHV
&HOO3KRQH
1R&UHGLW&KHFN
'HOHWH
>$GG (GLW@
)ROGHUV
,QER[
6HDUFK0DLO
)URP
6HQW
7UDVK
>(PSW\@
:KDW
V\RXU&UHGLW
6FRUHFKHFNLW)5((
.ORDQIRU
RQO\PRQWK
*HW<RXU+RW
/RZ5DWHV1RZ
%HVWFDUG
IRUEDGFUHGLW
3ULQWDEOH9LHZ )XOO+HDGHUV
)RUZDUG
0RYH
'DWH
'UDIW
5HSO\
6HDUFKWKH:HE
0RQ'HF367
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!
$GGWR$GGUHVV%RRN
6XEMHFW SLFLN
7R
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP!
6D\DVDQJDWVHWXMXGHQJDQDQMXUDQDQGDXWNEDQ\DNPHPEDFDLWXKRELVD\D
7DSLWRORQJMDZDESHUWDQ\DDQVD\D
$SDNDKPHQHULPDVHPXDSHQGDSDWDWDXWLGDNPHQRODNVDWXSXQSHQGDSDW
DGDODKV\DUDWXWNWHUKLQGDUGDULSLFLNSLNLUDQ"
$SDNDKWLGDNLQJLQGLNDWDNDQVHVDWEXNDQVDODKVDWXEHQWXNSLFLN SLNLUDQ"
/HELKMDXKODJLVD\DLQJLQWDKXDTLGDKNDXPOLEHUDODSDNDKPHQXUXWDQGD
WLGDNDGDGLNKRWRPLDQWDUDKDTGDQEDWKLOEHQDUGDQVDODKOXUXVGDQVHVDW"
:DVVDODP
<XVXI
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP! ZURWH
6DODP
6HEDLNQ\DDQGDEHODMDUGDQPHPEDFDOHELKEDQ\DNDJDU
WLGDNPXGDKPHQJDQJJDSEDWKLOVXDWXLGH
,VODPWLGDNPHPEXWXKNDQRUDQJRUDQJ\DQJSLFLNSLNLUDQ
GDQVXNDPHQ\HVDWNDQVHVDPD0XVOLP
%DFDODJLGDQEDFDOHELKEDQ\DNODJL
8OLO
'R\RX<DKRR"
<DKRR0DLO)LQGZKDW\RXQHHGZLWKQHZHQKDQFHGVHDUFK/HDUQPRUH
'HOHWH
5HSO\
)RUZDUG
0RYH
&RPSRVH
6DYH0HVVDJH7H[W
6HDUFK0DLO
6HDUFKWKH:HE
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
0DLO
$GGUHVVHV
&KHFN0DLO
)ROGHUV
,QER[
&DOHQGDU
1RWHSDG
0DLO8SJUDGHV 0DLO2SWLRQV
6HQW
7UDVK
'HOHWH
>$GG (GLW@
)URP
>(PSW\@
5HSO\
)RUZDUG
6HDUFKWKH:HE
3ULQWDEOH9LHZ )XOO+HDGHUV
6SDP
0RYH
7KLVPHVVDJHLVQRWIODJJHG>)ODJ0HVVDJH 0DUNDV8QUHDG @
'DWH
:KDW
V\RXU&UHGLW
6FRUHFKHFNLW)5((
*HW<RXU+RW
/RZ5DWHV1RZ
6HDUFK0DLO
3UHYLRXV _1H[W _%DFNWR0HVVDJHV
'UDIW
1R&UHGLW"*HW
D0DVWHU&DUG
6HDUFK
:HOFRPH\XVXIDQVKDU
>6LJQ2XW0\$FFRXQW@
&RPSRVH
)UHH3KRQH
$W&LQJXODU
NORDQIRU
PR*R
3DJH RI
0RQ'HF367
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP!
6XEMHFW 5HSLFLN
7R
9LHZ&RQWDFW'HWDLOV
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!
6DODP
$QGDEROHKPHQHULPDDWDXPHQRODNSLNLUDQDWDXLGH
7HWDSLWLGDNEHUKDNPHQ\HVDWNDQVXDWXLGH,WXEXNDQ
FDUD\DQJEDLNXQWXNEHUGLVNXVL$SDODJLDQGDKDQ\D
PHPEDFDVHNHOXPLWSLNLUDQGDQGHQJDQJDPSDQJPHQXGXK
VXDWXSLNLUDQ\DQJVHNHOXPLWLWXVHEDJDLVHVDW,QL
DGDODKPRGHO,VODPDOD+DUWRQR$KPDG-DL]DQGD
NHQDOSHQJDUDQJEXNX3DKDP6HVDWGDODP,VODPLWX"
3DKDP+DUWRQRLVPHLQL\DQJPHPEXDWVLWXDVLGLVNXVL
GDODP,VODPPHQMDGLWLGDNNRQGXVLINDUHQDGHQJDQ
PXGDKVHVRUDQJGLVHVDWNDQGLNDILUNDQGLV\LULNNDQ
GVW
$NLGDKNDXP0XVOLPOLEHUDODGDODKEDKZDVHWLDS
SHPDKDPDQNLWDDWDV,VODPDGDODKUHODWLINDUHQDWLGDN
DGD\DQJWDKXNHEHQDUDQPXWODNVHODLQ$OODKGDQ
UDVXO1\D.LWDDGDODKPDQXVLDUHODWLI\DQJPHQFRED
XQWXNPHPDKDPLNHEHQDUDQ:DK\XWHODKEHUKHQWL6HWLDS
RUDQJELVDPHQJXWLSD\DWDWDXKDGLVWHWDSLSDGD
DNKLUQ\DDSD\DQJLDNDWDNDQDGDODKSHQGDSDWQ\D
VHQGLULEHOXPWHQWXVHVXDLGHQJDQDSD\DQJ
GLNHKHQGDNL7XKDQ2OHKNDUHQDLWXVHVDWPHQ\HVDWNDQ
VHSHUWL\DQJDQGDODNXNDQDGDODKEHUWHQWDQJDQGHQJDQ
VHPDQJDWGDVDU,VODPVHEDJDLPDQDGLSDKDPLROHKNDXP
OLEHUDO.DPXPHQJLNXWLVHPDQJDW\DQJGLNHPEDQJNDQ
ROHKSDUDPXMWDKLGGDKXOX5D
\XQDVKDZDEXQ
\DKWDPLOXONKDWKD
ZDUD
\XNKDVKPLQDNKWKD
XQ
\DKWDPLOXVKVKDZDE
$QGDEROHKPHQJNULWLNSDKDP,VOLE.DPLMXJD
PHQJNULWLNSHPDKDPDQNHORPSRNNHORPSRN,VODPODLQ
7HWDSLNDPLWLGDNVHWXMXGHQJDQVHVDWPHQ\HVDWNDQ
NDILUPHQJNDILUNDQ6HEDENDPLPHQJDQJJDSEDKZDMDODQ
NHEHQDUDQPHQXMXNHEHQDUDQDGDODKEDQ\DN%XNDQKDQ\D
VDWX,VODPVDWX\HV7HWDSLGLSDKDPLVHFDUD
EHGDEHGD7XKDQVDWX\HV7HWDSLFDUDPDQXVLD
PHQGHNDWLGDQPHPDKDPL7XKDQEHUEHGDEHGD4XU
DQ
VDWX\HV7HWDSLWDIVLUQ\DEHGDEHGD6D\DPHQRODN
DQJJDSDQEDKZDVDWXMHQLVWDIVLUDWDXSHPDKDPDQDGDODK
SDOLQJEHQDUGDQ\DQJODLQGLDQJJDSVHVDW
,VODPOLEHUDOWLGDNSHUQDKPHQGDNXVHEDJDLPDQDNDXP
,VODPIXQGDPHQWDOLVEDKZDGLULQ\DSDOLQJEHQDU
.LWDVHPXDDGDODKVDOLNGDODPLVWLODKWDVDZZXI
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
3DJH RI
SHMDODQNDNL\DQJVHGDQJPHQFDULNHEHQDUDQ6HPHQWDUD
MDODQPHQXMXNHSDGDNHEHQDUDQLWXEDQ\DNUDJDPQ\D
7HUDNKLUDSDNDKDGDGLNRWRPLDQWDUDKDTGDQ
EDWKLO"-HODVDGD7HWDSLEDJDLPDQDNLWD
PHQGHIHQLVLNDQWHQWDQJGXDLVWLODKWHUVHEXWLWXODK
PDVDODKGDVDUQ\D2UDQJRUDQJGHQJDQVHPDQJDW
+DUWRQRLVPHDNDQGHQJDQPXGDKPHQXGXKEDKZD
SHQGDSDWSHQGDSDW\DQJEHUODZDQDQGHQJDQGLULQ\D
DGDODKEDWKLO,QLODK\DQJWHUMDGLGDODP,VODPVHODPD
LQLVHPXDNHORPSRNPHQJDQJJDSGLULQ\D\DQJSDOLQJ
KDT\DQJODLQEDWKLO2UDQJ6XQQLPHQJDQJJDSRUDQJ
6\LDKEDWKLOEHJLWXMXJDVHEDOLNQ\D'LGDODP6XQQL
VHQGLULPDVLQJPDVLQJNHORPSRNPHPEDWKLONDQNHORPSRN
\DQJODLQ%DJLVD\D,VODPPHQMDGLEXUXNFLWUDQ\D
NDUHQDKDOKDOVHPDFDPLQL
,VODPOLEHUDOPHQJKHQGDNLEHQWXNSHPDKDPDQ,VODP\DQJ
ODLQ\DNQLSHPDKDPDQ\DQJPHQHPSDWNDQVHPXDSHUEHGDDQ
ILUTDKPD]KDELVPHSDQGDQJDQLGHRORJLDOLUDQGDQ
ODLQODLQQ\DVHEDJDLVHEXDKNHND\DDQ,VODPGDQWLGDN
EROHKGLVHVDWNDQDWDXGLNDILUNDQ+DQ\DGHQJDQEHJLWX
,VODPPHQMDGLVXDWXSHUDGDEDQ\DQJND\D,VODPDNDQ
PHQ\HPSLWPHQMDGLDJDPD\DQJNHUGLOMLNDRUDQJRUDQJ
\DQJEHUSDQGDQJDQSLFLNEDKZDSHPDKDPDQQ\DVHQGLUL
DGDODKSDOLQJEHQDUVHSHUWLDQGD"PDUDNGL
PDQDPDQDMLND+DUWRQRLVPHEHUNHFDPEDKGDQ
EHUWDPEDKWDPEDK
6HPRJDSHQMHODVDQLQLPHQFXNXSL
8OLO
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!ZURWH
!6D\DVDQJDWVHWXMXGHQJDQDQMXUDQDQGDXWNEDQ\DN
!PHPEDFDLWXKRELVD\D
!7DSLWRORQJMDZDESHUWDQ\DDQVD\D
!
!$SDNDKPHQHULPDVHPXDSHQGDSDWDWDXWLGDNPHQRODN
!VDWXSXQSHQGDSDWDGDODKV\DUDWXWNWHUKLQGDUGDUL
!SLFLNSLNLUDQ"
!
!$SDNDKWLGDNLQJLQGLNDWDNDQVHVDWEXNDQVDODKVDWX
!EHQWXNSLFLNSLNLUDQ"
!
!/HELKMDXKODJLVD\DLQJLQWDKXDTLGDKNDXP
!OLEHUDODSDNDKPHQXUXWDQGDWLGDNDGDGLNKRWRPL
!DQWDUDKDTGDQEDWKLOEHQDUGDQVDODKOXUXVGDQ
!VHVDW"
!
!:DVVDODP
!<XVXI
!
!8OLO$EVKDU$EGDOODXOLO#\DKRRFRP!ZURWH
!6DODP
!6HEDLNQ\DDQGDEHODMDUGDQPHPEDFDOHELKEDQ\DNDJDU
!WLGDNPXGDKPHQJDQJJDSEDWKLOVXDWXLGH
!
!,VODPWLGDNPHPEXWXKNDQRUDQJRUDQJ\DQJ
!SLFLNSLNLUDQ
!GDQVXNDPHQ\HVDWNDQVHVDPD0XVOLP
!
!%DFDODJLGDQEDFDOHELKEDQ\DNODJL
!
!8OLO
!
!
!
!
!
!'R\RX<DKRR"
!<DKRR0DLO)LQGZKDW\RXQHHGZLWKQHZHQKDQFHG
!VHDUFK/HDUQPRUH
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
0DLO
$GGUHVVHV
&KHFN0DLO
,QER[
1RWHSDG
0DLO8SJUDGHV 0DLO2SWLRQV
6HDUFK0DLO
'HOHWH
>$GG (GLW@
6HQW
7UDVK
)URP
>(PSW\@
&RQVROLGDWH
+ROLGD\GHEWQRZ
5HSO\
)RUZDUG
6HDUFKWKH:HE
3ULQWDEOH9LHZ )XOO+HDGHUV
0RYH
7KLVPHVVDJHLVQRWIODJJHG>)ODJ0HVVDJH 0DUNDV8QUHDG @
'DWH
7LVWKHVHDVRQIRUD
)5((&UHGLW6FRUH
0DVWHU&DUGWR
%XLOG&UHGLW
&DOHQGDU
'UDIW
)UHHVKLSSLQJ
RUGHUV
6HDUFK
:HOFRPH\XVXIDQVKDU
>6LJQ2XW0\$FFRXQW@
&RPSRVH
&HOO3KRQH
1R&UHGLW&KHFN
)ROGHUV
3DJH RI
7XH'HF367
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!
$GGWR$GGUHVV%RRN
6XEMHFW EDUXDZDO
7R
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP!
7HULPDNDVLKNDUHQDSHPDKDPDQVD\DWWJSHPDKDPDQNDXPOLEHUDOVHPDNLQ
EHUWDPEDK
1DPXQSHQMHODVDQDQGDEXNDQQ\DPHQFXNXSLMXVWUXEDUXPHUXSDNDQDZDOGDUL
GLVNXVLNLWD\JPXQJNLQDNDQPHPDQMDQJGDQPHOHEDU6D\DKDUDSDQGDWHWDS
EHUVDEDUPHODGHQL
8QJNDSDQ\JDQGDNHPXNDNDQPHPDQJVHSLQWDVFXNXSLQGDKGDQ
PHQ\HMXNNDQQDPXQVHVXQJJXKQ\DVDQJDWOHPDKGDQPHQJJHOLNDQ6DWX
FRQWRKVDMDLPEDXDQDQGDDJDUWLGDNDGD\JGLVHVDWNDQDWDXGLNDILUNDQNDUHQD
7XKDQVDWXWDSLFDUDPHQGHNDWLGDQPHPDKDPL7XKDQEHUEHGDEHGDNLWD
DGDODKSHQFDULNHEHQDUDQGDQMDODQXWNPHQXMXNHEHQDUDQLWXEDQ\DN
UDJDPQ\D2.
7DUXKODKMDODQPHQXMX7XKDQGDQ.HEHQDUDQLWXEHUDJDPGDQEHUEHGDEHGD
WDSLDSDNDKGLDQWDUDVHNLDQEDQ\DNMDODQLWXWLGDNDGD\DQJVHVDW"$SDNDK
DOLUDQVHNVEHEDVGDQEXQXKGLULPDVVDOGHQJDQDODVDQULWXDOSHQ\HPEDKDQ
NSG7XKDQWLGDNELVDGLNDWDNDQVHVDW"
%LVDVDMDDQGDGHQJDQNHPDPSXDQEHURODKNDWDVHGHPLNLDQUXSDGDSDW
PHQJHODNSHQJJXQDDQFDSVHVDWWHUKDGDSDOLUDQVHSHUWLLWXGHQJDQ
PHQJDWDNDQLWXDGDODKEHQWXNSHQFDULDQ7XKDQ\JEHOXPVHOHVDLDWDX
NHEHEDVDQEHUHNVSUHVLGLKDGDSDQ7XKDQ\JNHEDEODVDQDWDXSXQFDN
NHJLODDQPDQXVLDGDODPEHU7XKDQGDQVHDEUHNMXQJNLUEDOLNGDQVDEDKDVD\J
ODLQQ\DQDPXQVD\DNLUDNLWDGDQXPPDWPDQXVLDVHGXQLDWHWDSVDMDOHELK
PXGDKPHQHULPDSHQJJXQDDQNDWDVHVDWWKGPHUHND
1DKNDODXNLWDDWDXNHEDQ\DNDQNLWDELVDPHQHULPDFDSVHVDWWKG
JRORQJDQNHEDEODVDQVHPDFDPLWXPHQJDSDNLWDKDUXVPHQRODN
SHQJJXQDDQNDWDVHVDWWKGVHMXPODKJRORQJDQWHUWHQWXPHVNLGJNDGDUGDQ
WLQJNDWNHVHVDWDQ\JEHUEHGDEHGD"6SWXQJNDSDQ7XKDQGOPDO4XUDQWWJ
NHFRQGRQJDQ\JVHGLNLWGHQJDQNDOLPDWODTDGNLGWDWDUNDQXLODLKLPV\DLDQ
TDOLODQ>46@GDQNHVHVDWDQ\JMDXKGHQJDQNDOLPDWIDTDGGKDOOD
GKDODODQED
LGDQ>46@
,WXKDQ\DVDWXFRQWRKNRPHQWDUVD\DWKGXUDLDQDQGD.RPHQWDU\JODLQQ\D
VD\DVLPSDQGXOXDJDUGLVNXVLNLWDWLGDNWHUODOXPHPDQMDQJGDQPHOHEDU
'LDWDVVD\DNDWDNDQLQLEDUXDZDOGDULGLVNXVLNLWDNDUHQDVD\DPHOLKDWWLWLN
SDQJNDOSHPELFDUDDQ\JPXGDKDQELVDPHQJXUDLEHQDQJDWDXMDULQJNXVXW
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
3DJH RI
GDULSHPLNLUDQ-DULQJDQ8PPDW/LEHUDOXVXOVD\D-,/EHUJDQWLQDPDGXOX
PHQMDGL-8/7LWLNDZDOGLVNXVLNLWDDGDODKXFDSDQDQGDDSDNDKDGD
GLNRWRPLDQWDUDKDTGDQEDWKLO"-HODVDGD7HWDSLEDJDLPDQDNLWD
PHQGHIHQLVLNDQWHQWDQJGXDLVWLODKWHUVHEXWLWXODKPDVDODKGDVDUQ\D
<DKLWXODKPDVDODKGDVDUQ\D.DODXEHJLWXDSDGHIHQLVLNDXPOLEHUDOVHQGLUL
WWJDOKDTGDQDOEDWKLO"
:DVVDODP
<XVXI
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP! ZURWH
6DODP
$QGDEROHKPHQHULPDDWDXPHQRODNSLNLUDQDWDXLGH
7HWDSLWLGDNEHUKDNPHQ\HVDWNDQVXDWXLGH,WXEXNDQ
FDUD\DQJEDLNXQWXNEHUGLVNXVL$SDODJLDQGDKDQ\D
PHPEDFDVHNHOXPLWSLNLUDQGDQGHQJDQJDPSDQJPHQXGXK
VXDWXSLNLUDQ\DQJVHNHOXPLWLWXVHEDJDLVHVDW,QL
DGDODKPRGHO,VODPDOD+DUWRQR$KPDG-DL]DQGD
NHQDOSHQJDUDQJEXNX3DKDP6HVDWGDODP,VODPLWX"
3DKDP+DUWRQRLVPHLQL\DQJPHPEXDWVLWXDVLGLVNXVL
GDODP,VODPPHQMDGLWLGDNNRQGXVLINDUHQDGHQJDQ
PXGDKVHVRUDQJGLVHVDWNDQGLNDILUNDQGLV\LULNNDQ
GVW
$NLGDKNDXP0XVOLPOLEHUDODGDODKEDKZDVHWLDS
SHPDKDPDQNLWDDWDV,VODPDGDODKUHODWLINDUHQDWLGDN
DGD\DQJWDKXNHEHQDUDQPXWODNVHODLQ$OODKGDQ
UDVXO1\D.LWDDGDODKPDQXVLDUHODWLI\DQJPHQFRED
XQWXNPHPDKDPLNHEHQDUDQ:DK\XWHODKEHUKHQWL6HWLDS
RUDQJELVDPHQJXWLSD\DWDWDXKDGLVWHWDSLSDGD
DNKLUQ\DDSD\DQJLDNDWDNDQDGDODKSHQGDSDWQ\D
VHQGLULEHOXPWHQWXVHVXDLGHQJDQDSD\DQJ
GLNHKHQGDNL7XKDQ2OHKNDUHQDLWXVHVDWPHQ\HVDWNDQ
VHSHUWL\DQJDQGDODNXNDQDGDODKEHUWHQWDQJDQGHQJDQ
VHPDQJDWGDVDU,VODPVHEDJDLPDQDGLSDKDPLROHKNDXP
OLEHUDO.DPXPHQJLNXWLVHPDQJDW\DQJGLNHPEDQJNDQ
ROHKSDUDPXMWDKLGGDKXOX5D
\XQDVKDZDEXQ
\DKWDPLOXONKDWKD
ZDUD
\XNKDVKPLQDNKWKD
XQ
\DKWDPLOXVKVKDZDE
$QGDEROHKPHQJNULWLNSDKDP,VOLE.DPLMXJD
PHQJNULWLNSHPDKDPDQNHORPSRNNHORPSRN,VODPODLQ
7HWDSLNDPLWLGDNVHWXMXGHQJDQVHVDWPHQ\HVDWNDQ
NDILUPHQJNDILUNDQ6HEDENDPLPHQJDQJJDSEDKZDMDODQ
NHEHQDUDQPHQXMXNHEHQDUDQDGDODKEDQ\DN%XNDQKDQ\D
VDWX,VODPVDWX\HV7HWDSLGLSDKDPLVHFDUD
EHGDEHGD7XKDQVDWX\HV7HWDSLFDUDPDQXVLD
PHQGHNDWLGDQPHPDKDPL7XKDQEHUEHGDEHGD4XU
DQ
VDWX\HV7HWDSLWDIVLUQ\DEHGDEHGD6D\DPHQRODN
DQJJDSDQEDKZDVDWXMHQLVWDIVLUDWDXSHPDKDPDQDGDODK
SDOLQJEHQDUGDQ\DQJODLQGLDQJJDSVHVDW
,VODPOLEHUDOWLGDNSHUQDKPHQGDNXVHEDJDLPDQDNDXP
,VODPIXQGDPHQWDOLVEDKZDGLULQ\DSDOLQJEHQDU
.LWDVHPXDDGDODKVDOLNGDODPLVWLODKWDVDZZXI
SHMDODQNDNL\DQJVHGDQJPHQFDULNHEHQDUDQ6HPHQWDUD
MDODQPHQXMXNHSDGDNHEHQDUDQLWXEDQ\DNUDJDPQ\D
7HUDNKLUDSDNDKDGDGLNRWRPLDQWDUDKDTGDQ
EDWKLO"-HODVDGD7HWDSLEDJDLPDQDNLWD
PHQGHIHQLVLNDQWHQWDQJGXDLVWLODKWHUVHEXWLWXODK
PDVDODKGDVDUQ\D2UDQJRUDQJGHQJDQVHPDQJDW
+DUWRQRLVPHDNDQGHQJDQPXGDKPHQXGXKEDKZD
SHQGDSDWSHQGDSDW\DQJEHUODZDQDQGHQJDQGLULQ\D
DGDODKEDWKLO,QLODK\DQJWHUMDGLGDODP,VODPVHODPD
LQLVHPXDNHORPSRNPHQJDQJJDSGLULQ\D\DQJSDOLQJ
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
0DLO
$GGUHVVHV
&KHFN0DLO
,QER[
1RWHSDG
0DLO8SJUDGHV 0DLO2SWLRQV
6HDUFK0DLO
'HOHWH
>$GG (GLW@
6HQW
7UDVK
)URP
>(PSW\@
.ORDQIRU
RQO\PRQWK
5HSO\
)RUZDUG
6HDUFKWKH:HE
3ULQWDEOH9LHZ )XOO+HDGHUV
6SDP
0RYH
7KLVPHVVDJHLVQRWIODJJHG>)ODJ0HVVDJH 0DUNDV8QUHDG @
'DWH
7LVWKHVHDVRQIRUD
)5((&UHGLW6FRUH
1HHGFUHGLW"
*HWRXUFDUG
&DOHQGDU
3UHYLRXV_1H[W _%DFNWR0HVVDJHV
'UDIW
)UHHVKLSSLQJ
RUGHUV
6HDUFK
:HOFRPH\XVXIDQVKDU
>6LJQ2XW0\$FFRXQW@
&RPSRVH
)UHH3KRQH
$W&LQJXODU
)ROGHUV
3DJH RI
7XH'HF367
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP!
6XEMHFW 5HEDUXDZDO
7R
9LHZ&RQWDFW'HWDLOV
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!
6DODP
6HWDKXVD\D\DQJVXNDEHUPDLQVLODWOLGDKGDQ
EHUPDLQGHQJDQUHWRULNDEDKDVD\DQJVHRODKRODK
PH\DNLQNDQDGDODKNDXPIXQGDPHQWDOLV$\DWGDQKDGLV
NHUDSGLKDPEXUKDPEXUNDQ6DWXGXDNDOLPDWODQJVXQJ
SHQXKVHVDNGHQJDQNXWLSDQNXWLSDQGDUL.LWDE6XFL
6HRODKRODKVXDWXSHPELFDUDDQ\DQJSHQXKGHQJDQD\DW
VXFLDNDQEHQDUGHQJDQVHQGLULQ\D
6D\DEHODMDUGLSHVDQWUHQ3HQJDODPDQ\DQJVD\D
SHURODKGDULSHVDQWUHQDGDODKNLDLNLDLVD\DMDUDQJ
PHQJXWLSD\DWGDQKDGLVNDUHQDPHUHNDNKDZDWLUNHOLUX
PHQDIVLUNDQ3DOLQJMDXKPHUHNDPHQJXWLSSHQGDSDW
XODPDDWDXNLDL\DQJODLQ.DODXSXQNHOLUXWDN
DSDDSDWRKPHUHNDPDQXVLD,WXODKSHQJDODPDQ\DQJ
PHPEHNDVSDGDGLULVD\DKLQJJDVHNDUDQJ'DQLWXODK
\DQJPHPEXDWVD\DDJDNPXDNPHOLKDWNDXP
IXQGDPHQWDOLVGLNDPSXVNDPSXV\DQJVHWLDSELFDUD
VHODOXPHPHUFLNNDQD\DWGDQKDGLVGLPDQDPDQD
$\DWGDQKDGLVELVDPHQJDODPLLQIODVLMLNDGLREUDO
GHQJDQFDUDGHPLNLDQ
.HPEDOLNHSRNRNVRDO\DQJDQGDVD\DWDNPDXSDNDL
NDWDDQWXPDODNDXPIXQGDPHQWDOLVGL-DNDUWD
SHUVRDONDQ6RDONHEHEDVDQPHQDIVLU
.HEHEDVDQPHQDIVLUVXGDKPHQMDGLNHQ\DWDDQGDQIDNWD
GDODPVHMDUDKSHPLNLUDQ,VODP,WXWHUMDGLGDULVHMDN
]DPDQVDKDEDWGDQPDNLQEHUNHPEDQJSDGD
JHQHUDVLJHQHUDVLXODPD\DQJGDWDQJEHODNDQJDQ5LEXDQ
WDIVLUGDULSHOEDJDLVXGXWSHQGHNDWDQGLWXOLVROHK
XODPD$GDWDIVLU\DQJOLEHUDODWDX\DQJOLWHUDO$GD
WDIVLUGHQJDQSHQGHNDWDQVXIL\DQJVDQJDWEHEDVGDQ
DGDWDIVLUELOPD
WVXUDODDO'XUUDO0DQWVXU
\DQJVDQJDWWDDWGHQJDQSHPDKDPDQKDUILDK
5LEXDQWDIVLULWXWDNPXQJNLQGLWXOLVMLNDWDNDGD
NHEHEDVDQEHUSHQGDSDWGDQEHUSLNLUGDODP,VODP
<DQJVD\DNDJHWXPDW,VODPVHNDUDQJ\DQJXPXPQ\DWDN
EHODMDUWUDGLVLSHPLNLUDQ,VODP\DQJND\DWLEDWLED
PHPEHQFLNHEHEDVDQEHUSLNLU$GDDGDVDMDDODVDQQ\D
6DODKVDWXDODVDQQ\DNHEHEDVDQEHUSLNLULWXODK\DQJ
PHQ\HEDENDQ,EOLVWHUMDWXKGDQVHVDW6HEDE,EOLV
PHPDNDLSLNLUDQQ\DVHQGLULGDQPHQRODNSHULQWDK7XKDQ
.HWDXKLODKVDXGDUDNXDUJXPHQLQLVXGDKSHUQDKGLSDNDL
ROHKSDUDXODPDGDKXOX\DQJPHQHQWDQJSHQJJXQDDQTL\DV
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
3DJH RI
DWDXVLORJLVPHWHWDSLWRKXODPDODLQWDNWHUSHQJDUXK
GHQJDQSHQGDSDWLQLGDQWHWDSPHQJDQJJDSTL\DV
VHEDJDLVDODKVDWXDVDVSHQWLQJGDODPLVWLQEDWKKXNXP
$ODVDQODLQ\DQJSDOLQJSRSXOHUGDQWDPSDNQ\DGL
VLQLODKDQGDVHNDOLODJLEXNDQDQWXPWHUMDWXK
DGDODKEDKZDMLNDNHEHEDVDQEHUSLNLUGLELDUNDQPDND
RUDQJDNDQFHQGHUXQJNHEDEODVDQ$SDNDKGHPLNHEHEDVDQ
EHUSLNLUVHNVEHEDVGLKDODONDQ"$SDNDKGHPL
NHEHEDVDQFDUDFDUDLEDGDKGHQJDQEXQXKGLULPDVVDO
GLSHUEROHKNDQ".DODXVHPXDSHQGHNDWDQNHSDD7XKDQ
DGDODKVDKDSDNDKFDUDJLOD\DQJGLWHPSXKROHK
VHNWHVHSHUWL5DQWLQJ'DXGLWXDEVDK"
'DQVHWHUXVQ\D
6D\DVXQJJXKKHUDQGHQJDQWDQJJDSDQVHPDFDPLQL
2UDQJRUDQJ\DQJEHUMXDQJXQWXNWDJDNQ\DNHEHEDVDQ
SLNLUDQEDLNGL%DUDWDWDXGL7LPXUWLGDNSHUQDK
EHUSLNLUEDKZDKDOLWXXQWXNPHQJKDODONDQVHNV
EHEDV<DQJSDWXWGLFXULJDLDGDODKNHQDSDVRDOVHNV
EHJLWXPHQJJDQJJXSLNLUDQXPDW,VODP$SDNDKPHUHND
EHJLWXQJHUHVSLNLUDQQ\DVHKLQJJDGLSHQXKLGHQJDQ
VHNVPHOXOX"
.HQDSDKDO\DQJSHUWDPDWHUOLQWDVGLSLNLUDQDQGD
EHJLWXPHQGHQJDUVRDONHEHEDVDQEHUSLNLUDGDODKVRDO
VHNV"$SDNDKDQGDPHPSXQ\DLPDVDODKGDODPKDOLQL
PDDI"
6HPXDDJDPDEXNDQKDQ\D,VODPPHQJKDUDPNDQ]LQD
6HPXDDJDPDPHQJKDUDPNDQSHPEXQXKDQSHQFXULDQ
EHUERKRQJPHQLSXEHUVLNDSWDNKRUPDWSDGDRUDQJWXD
GVW$SD\DQJGDODPWUDGLVL<DKXGLGLVHEXWVHEDJDL
6HSXOXK3HUMDQMLDQ7HQ&RPPDQGHPHQWDGDODK
PHUXSDNDQDMDUDQDMDUDQ\DQJXQLYHUVDOEXNDQVDMD
GDODPDJDPD<DKXGLWHWDSLMXJD,VODPGDQDJDPDDJDPD
ODLQ3UDNWHNSUDNWHNSHQ\HPEDKDQDJDPD\DQJPHODQJJDU
SULQVLSLWXDNDQGHQJDQVHQGLULQ\DGLWRODNROHK
DJDPDDJDPDEHVDU
'LQHJHULQHJHUL\DQJPHQMXQMXQJWLQJJLSHPLNLUDQ\DQJ
EHEDVSHQFXULDQGDQSHPEXQXKDQWLGDNGHQJDQ
VHQGLULQ\DKDODOGHPLNHEHEDVDQEHUSLNLU
'LVLQLODKVD\DSHUFD\DEDKZDDNDOPDQXVLDGDQZDK\X
7XKDQVHEHWXOQ\DEHUWHPXGDODPVDWXWLWLN,QLODK\DQJ
GLNDWDNDQROHK,EQ7D\PL\DKVHEDJDL0XZDIDTDW
6KDULKLO0D
TXOOL6KDKLKLO0DQTXO
%DJDLPDQDMLNDZDK\XGDQDNDOEHUWHQWDQJDQ"
6D\DPHQJLNXWLSHQGDSDW,EQ5XVKGVHRUDQJILORVRIGDQ
DKOLILNLKGDULDEDG0GDODP)DVKODO0DTDO)L0D
%DLQDDO+LNPDWLZDV6\DULDWLPLQDO,WWLVKDO
0HQXUXWGLDMLNDDGDSHUWHQWDQJDQDQWDUDNHGXDQ\D
PDNDZDK\XKDUXVGLWDNZLO7HWDSLKDOLQLKDUXV
GLOLKDWGHQJDQFHUPDW7LGDNVHPXDSHQGDSDWDNDO
PDQXVLDGHQJDQVHQGLULQ\DVDK+DQ\DSHQGDSDW\DQJ
GDODPLVWLODK,EQ7D\PL\DKGLVHEXWVKDULKSHQGDSDW
\DQJGLODQGDVLGHQJDQDUJXPHQ\DQJNRNRKGDQEXNDQ
VHNHGDUPHPSHUWXUXWNDQKDZDQDIVXEHODND\DQJGDSDW
GLSHUWLPEDQJNDQ
$SDSHQGDSDW\DQJVKDULKLWX",EQ5XVKGVHQGLUL
WLGDNPHQHWDSNDQVXDWXDQFDUDQFDU%DJLVD\D
DQFDUDQFDULWXWLGDNNHWDWNDNXVHEDESDGDDNKLUQ\D
\DQJPHQHQWXNDQVHEXDKSHQGDSDWPDVXNDNDOGDQWLGDN
DGDODKNDODQJDQFHUGLNSDQGDLVHQGLUL,EQ5XVKG
VHQGLULVXGDKPHQJDWDNDQGDODP%LGD\DWDO0XMWDKLG
EDKZDDOQXVKXVKPXWDQDKL\DKZDDOZDTDL
JKDLUX
PXWDQDKL\DKWHNVWHNVDJDPDGDQZDK\XWHUEDWDV
MXPODKQ\DVHPHQWDUDVLWXDVLVRVLDOWHUXVEHUXEDK
%DJDLPDQDPXQJNLQNDWD,EQ5XVGKVHVXDWX\DQJ
WHUEDWDVDNDQPHQJDWDVL\DQJWDNWHUEDWDV'LVLWXODK
DNDOPDQXVLDGDQNHEHEDVDQEHUSLNLUGLSHUOXNDQ
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
3DJH RI
7HQWDQJPDVDODKKDTGDQEDWKLOMHODVKDOLWXDGD
<DQJPHQMDGLVRDODGDODKRUDQJRUDQJ\DQJVHMHQLV
GHQJDQDQGD\DQJPXGDKPHPEDWKLONDQSDQGDQJDQ
RUDQJRUDQJ\DQJEHUEHGD$QGDPHQ\HEXW-,/EDWKLO"
$WDVGDVDUDSD"$WDVGDVDUNXWLSDQD\DWGDQKDGLV\DQJ
EHUKDPEXUDQGHQJDQVHHQDNQ\DLWX"$SDNDKNDODXVXGDK
PHQJXWLSD\DWODOXVHOHVDL"%XNDQNDKD\DWELVD
GLWDIVLUNDQPDFDPPDFDP
$PELOFRQWRKD\DWEHULNXWLQL$GDD\DW\DQJEHUEXQ\L
/DWXGULNXKXODEVKDUZDKXZD\XGULNXODEVKDUZDKXZDO
ODWKLIXONKDELU$\DWLWXNLUDNLUDLVLQ\DDGDODK
EDKZD7XKDQLWXEHJLWXOHPEXWVHKLQJJDWDNELVD
GLOLKDWROHKPDWD2OHKNDUHQDLWXPDQXVLDWDNDNDQ
ELVDPHOLKDW7XKDQPHVNLSXQGLVRUJD$WDVGDVDUD\DW
LQLODKNDXP0X
WD]LODKPHQRODNNHPXQJNLQDQPDQXVLD
PHOLKDW7XKDQGLVRUJD
7HWDSLDGDD\DWODLQ:XMXKXQ\DXPDLG]LQQDGKLUDK
LODUDEELKDQDGOLUDK$\DWLWXNLUDNLUDLVLQ\D
DGDODKEDKZDRUDQJRUDQJ\DQJEHULPDQGLVRUJDQDQWL
DNDQPHOLKDW7XKDQ$WDVGDVDULQLODKNDXP$V\DUL\\DK
EHUSHQGDSDWEDKZDPDQXVLDPXQJNLQPHOLKDW7XKDQGL
VRUJD
%DJDLPDQDDQGDPHQGDPDLNDQDQWDUDNHGXDD\DWLWX.DXP
0X
WD]LODKSDNDLD\DW.DXP$V\DUL\DKSDNDLD\DW0DQD
\DQJEHQDU
,QWLQ\DEHOXPWHQWXNDODXDQGDPHPDNDLD\DWGDQKDGLV
GHQJDQVHQGLULQ\DDQGDVXGDKELVDPHQ\XGDKLGLVNXVL
GDQPHQXGXK\DQJODLQVDODKVHVDWEDWKLOPXUWDG
NDILUGVW
6D\DPHQJDNXLDGDQ\D\DQJKDTGDQ\DQJEDWKLO
7HWDSLVD\DVHEDJDLPDQXVLDPHPSXQ\DLSHQJHWDKXDQ
\DQJWHUEDWDVGDQVD\DWDNOD\DNGHQJDQEHJLWXPXGDK
PHQ\DODKNDQGDQPHPEDWKLONDQSHQGDSDWODLQ<DQJVD\D
ODNXNDQKDQ\DODKPHQJNULWLNWHWDSLVD\DWLGDNDNDQ
SHUQDKVDPSDLSDGDNHVLPSXODQEDKZDSHQGDSDWODZDQ
VD\DEDWKLONHFXDOLMLNDSHQGDSDWLWXMHODVMHODV
PHODZDQDNDOVHKDW.DODXDGDRUDQJEHUSHQGDSDWEDKZD
PHPEXQXKDGDODKKDODOMHODVLWXEDWDOGDULVXGXW
SDQGDQJDSDSXQ7HWDSLVD\DWLGDNDNDQPHQJDWDNDQ
EDKZDFDUDEHULEDGDKRUDQJ.ULVWHQGDQ+LQGXDGDODK
EDWDO
'DODPPHQJKXNXPLVHVXWDXEDWKDODWDXKDTNLWD
KDUXVPHPDNDLGXDLQVWUXPHQZDK\XGDQDNDO7LGDN
ELVDKDQ\DGHQJDQZDK\X2OHKNDUHQDLWXVD\D
NHEHUDWDQVHNDOLGHQJDQWLQGDNDQFHURERKSDUDNDXP
IXQGDPHQWDOLV\DQJPHQJREUDOD\DWGDQKDGLVWHWDSL
PHQJDEDLNDQSHQDODUDQDNDOVHKDW
$ODNXOOLKDODSD\DQJVD\DWXOLVLQLEHOXPWHQWX
EHQDU6HEDEKDQ\D$OODKODK\DQJWDKXPDQD\DQJEHQDU
PDQD\DQJVDODK.LWDKDQ\DEHUXVDKDXQWXNEHQDU
8OLO
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!ZURWH
!7HULPDNDVLKNDUHQDSHPDKDPDQVD\DWWJSHPDKDPDQ
!NDXPOLEHUDOVHPDNLQEHUWDPEDK
!
!1DPXQSHQMHODVDQDQGDEXNDQQ\DPHQFXNXSLMXVWUXEDUX
!PHUXSDNDQDZDOGDULGLVNXVLNLWD\JPXQJNLQDNDQ
!PHPDQMDQJGDQPHOHEDU6D\DKDUDSDQGDWHWDS
!EHUVDEDUPHODGHQL
!
!8QJNDSDQ\JDQGDNHPXNDNDQPHPDQJVHSLQWDVFXNXS
!LQGDKGDQPHQ\HMXNNDQQDPXQVHVXQJJXKQ\DVDQJDW
!OHPDKGDQPHQJJHOLNDQ6DWXFRQWRKVDMDLPEDXDQ
!DQGDDJDUWLGDNDGD\JGLVHVDWNDQDWDXGLNDILUNDQ
!NDUHQD7XKDQVDWXWDSLFDUDPHQGHNDWLGDQPHPDKDPL
!7XKDQEHUEHGDEHGDNLWDDGDODKSHQFDULNHEHQDUDQ
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
0DLO
$GGUHVVHV
&KHFN0DLO
6HDUFK
:HOFRPH\XVXIDQVKDU
>6LJQ2XW0\$FFRXQW@
&DOHQGDU
1RWHSDG
0DLO8SJUDGHV 0DLO2SWLRQV
&RPSRVH
)ROGHUV
,QER[
'HOHWH
>$GG (GLW@
6HQW
7UDVK
)URP
>(PSW\@
7LVWKHVHDVRQIRUD
)5((&UHGLW6FRUH
.ORDQIRU
RQO\PRQWK
5HSO\
)RUZDUG
6HDUFKWKH:HE
3ULQWDEOH9LHZ )XOO+HDGHUV
0RYH
7KLVPHVVDJHLVQRWIODJJHG>)ODJ0HVVDJH 0DUNDV8QUHDG @
'DWH
'UDIW
*HW<RXU+RW
/RZ5DWHV1RZ
6HDUFK0DLO
3UHYLRXV_1H[W _%DFNWR0HVVDJHV
)UHH&RORU
)OLS3KRQHV
5HHVWDEOLVK
&UHGLW1RZ
3DJH RI
:HG'HF367
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!
$GGWR$GGUHVV%RRN
6XEMHFW DNDOVHKDW
7R
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP!
0HPEDFDHPDLODQGD\JODOXNHVDQ\JVD\DWDQJNDSDGDODKXUDLDQDQGDOHELK
EDQ\DNPHUXSDNDQFXUDKDQSHUDVDDQGDQHPRVL\JFDPSXUDGXNNHVDOPXDN
VLQLVNDJHWELQJXQJMDGLVDWX6D\DPHQJHUWLSHUDVDDQDQGDGDQVD\DWXUXW
SULKDWLQGJNHNHVDODQGDQNHELQJXQJDQDQGD1DPXQXSD\DVD\DXWNVHGLNLW
PHQMHUQLKNDQGDQPHQHQDQJNDQDUXVSHPLNLUDQNLWDDJDNWHUKDPEDWGJ
FXUDKDQSHPLNLUDQGDQHPRVLDQGD\JFXNXSGHUDV%DUDQJNDOLPHPDQJ
EHJLWXFDUDEHUSLNLUGDQPRGHOGLVNXVLDQGDGDQNRPXQLWDVDQGDGLXWDQND\X
+DQ\DVDMDVD\DWDNLQJLQEHUVX
X]KDQQGHQJDQPHQJDWDNDQEDKZDLWXVDODK
VDWXFDUDDQGDPHQJDFDXNDQNRQVHQWUDVLRUDQJ\JLQJLQEHUSLNLUOXUXVOXUXV
VDMD
7DSLWDNDSDODKPDULNLWDNHPEDOLPHQJXUDLEHQDQJNXVXWNHWLPEDQJEHUODUXW
ODUXWGOPHPRVLGDQUDWDSDQWKGXPPDW,VODP\JPHPDQJVDDWLQLVHGDQJ
FHQWDQJSUHQDQJ%HQDQJPHUDKXUDLDQNLWDPDVLKVHSXWDUNHEHEDVDQ
EHUSLNLUGOPNDLWDQQ\DGJKDT EDWKLOEHQDU VDODKOXUXV VHVDW
$GDVHGLNLWNHPDMXDQNDUHQDVHSHUWLQ\DDQGDVXGDKPHQJDNXLDGDQ\DMDODQ
EHUDJDPD\JVHVDWGDQEDWKLOGJSHUQ\DWDDQDQGDSUDNWHNSUDNWHN
SHQ\HPEDKDQDJDPD\DQJPHODQJJDUSULQVLSLWXDNDQGHQJDQVHQGLULQ\D
GLWRODNROHKDJDPDDJDPDEHVDU0HVNLSXQDQGDEHOXPEHUDQLDWDXPDVLK
PDOXPHQJJXQDNDQNDWDVHVDWGLVLWXWDSLPDNVXGQ\DNXUDQJOHELKVDPD
NDUHQDMLNDVHPXDDJDPDDJDPDEHVDUDGDODKMDODQ\JEHQDUPHQXUXWDQGD
EHUDUWLDSD\JGLWRODNROHKPHUHNDDGDODKMDODQ\JVDODK6DODKMDODQ VHVDW
$ODLVDNDG]DOLN"
1DKVDWXMDOLQDQEHQDQJNXVXWWHODKEHUKDVLONLWDWDULNVLPSXOQ\D\DLWXPHPDQJ
DGDMDODQ\JEHQDUGDQDGDMDODQ\DQJVHVDWDWDXVDODKMDODQELODDQGDWLGDN
WHJDPHQJJXQDNDQNDWDVHVDW6D\DQJQ\DNULWHULDEHQDUGDQVHVDWQ\DVXDWX
MDODQEHUDJDPDDQGDVHUDKNDQEHJLWXVDMDWDQSDMHODVGDOLOGDQDUJXPHQQ\D
SDGDGXDKDO\DLWXDNDOVHKDWGDQQLODLQLODLXQLYHUVDO\DLWXQLODLQLODL\J
WHUGDSDWGOPVHPXDDJDPD'LVLQLSHPLNLUDQNLWDVDOLQJNXVXWODJL0DULNLWD
FREDXUDLNDQMDOLQDQEHQDQJNXVXWLQLGHQJDQPHQDULNVXDWXWLWLNWHPX\JNLWD
VHSDNDWLEHUVDPD
'DODPEHEHUDSDEDJLDQWXOLVDQDQGDGDODPHPDLOHPDLO\JWHUGDKXOXDQGD
WHODKPHPEHULNDQVXDWXNHVLPSXODQ\JVDQJDWEHUKDUJDWWJDTLGDKNDXP
OLEHUDO\DLWXEDKZDSURGXNDNDODGDODKUHODWLIVHGDQJNHEHQDUDQPXWODN
EHUVXPEHUGDUL7XKDQ.DODXPHPDQJGHPLNLDQSHQJDNXDQGDQNH\DNLQDQ
DQGDEDJDLPDQDNDODXNLWDNDWDNDQVDMDNDUHQDGLWLWLNLQLSLNLUDQNLWDVHSDNDW
EDKZD
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
3DJH RI
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP! ZURWH
6DODP
6HWDKXVD\D\DQJVXNDEHUPDLQVLODWOLGDKGDQ
EHUPDLQGHQJDQUHWRULNDEDKDVD\DQJVHRODKRODK
PH\DNLQNDQDGDODKNDXPIXQGDPHQWDOLV$\DWGDQKDGLV
NHUDSGLKDPEXUKDPEXUNDQ6DWXGXDNDOLPDWODQJVXQJ
SHQXKVHVDNGHQJDQNXWLSDQNXWLSDQGDUL.LWDE6XFL
6HRODKRODKVXDWXSHPELFDUDDQ\DQJSHQXKGHQJDQD\DW
VXFLDNDQEHQDUGHQJDQVHQGLULQ\D
6D\DEHODMDUGLSHVDQWUHQ3HQJDODPDQ\DQJVD\D
SHURODKGDULSHVDQWUHQDGDODKNLDLNLDLVD\DMDUDQJ
PHQJXWLSD\DWGDQKDGLVNDUHQDPHUHNDNKDZDWLUNHOLUX
PHQDIVLUNDQ3DOLQJMDXKPHUHNDPHQJXWLSSHQGDSDW
XODPDDWDXNLDL\DQJODLQ.DODXSXQNHOLUXWDN
DSDDSDWRKPHUHNDPDQXVLD,WXODKSHQJDODPDQ\DQJ
PHPEHNDVSDGDGLULVD\DKLQJJDVHNDUDQJ'DQLWXODK
\DQJPHPEXDWVD\DDJDNPXDNPHOLKDWNDXP
IXQGDPHQWDOLVGLNDPSXVNDPSXV\DQJVHWLDSELFDUD
VHODOXPHPHUFLNNDQD\DWGDQKDGLVGLPDQDPDQD
$\DWGDQKDGLVELVDPHQJDODPLLQIODVLMLNDGLREUDO
GHQJDQFDUDGHPLNLDQ
.HPEDOLNHSRNRNVRDO\DQJDQGDVD\DWDNPDXSDNDL
NDWDDQWXPDODNDXPIXQGDPHQWDOLVGL-DNDUWD
SHUVRDONDQ6RDONHEHEDVDQPHQDIVLU
.HEHEDVDQPHQDIVLUVXGDKPHQMDGLNHQ\DWDDQGDQIDNWD
GDODPVHMDUDKSHPLNLUDQ,VODP,WXWHUMDGLGDULVHMDN
]DPDQVDKDEDWGDQPDNLQEHUNHPEDQJSDGD
JHQHUDVLJHQHUDVLXODPD\DQJGDWDQJEHODNDQJDQ5LEXDQ
WDIVLUGDULSHOEDJDLVXGXWSHQGHNDWDQGLWXOLVROHK
XODPD$GDWDIVLU\DQJOLEHUDODWDX\DQJOLWHUDO$GD
WDIVLUGHQJDQSHQGHNDWDQVXIL\DQJVDQJDWEHEDVGDQ
DGDWDIVLUELOPD
WVXUDODDO'XUUDO0DQWVXU
\DQJVDQJDWWDDWGHQJDQSHPDKDPDQKDUILDK
5LEXDQWDIVLULWXWDNPXQJNLQGLWXOLVMLNDWDNDGD
NHEHEDVDQEHUSHQGDSDWGDQEHUSLNLUGDODP,VODP
<DQJVD\DNDJHWXPDW,VODPVHNDUDQJ\DQJXPXPQ\DWDN
EHODMDUWUDGLVLSHPLNLUDQ,VODP\DQJND\DWLEDWLED
PHPEHQFLNHEHEDVDQEHUSLNLU$GDDGDVDMDDODVDQQ\D
6DODKVDWXDODVDQQ\DNHEHEDVDQEHUSLNLULWXODK\DQJ
PHQ\HEDENDQ,EOLVWHUMDWXKGDQVHVDW6HEDE,EOLV
PHPDNDLSLNLUDQQ\DVHQGLULGDQPHQRODNSHULQWDK7XKDQ
.HWDXKLODKVDXGDUDNXDUJXPHQLQLVXGDKSHUQDKGLSDNDL
ROHKSDUDXODPDGDKXOX\DQJPHQHQWDQJSHQJJXQDDQTL\DV
DWDXVLORJLVPHWHWDSLWRKXODPDODLQWDNWHUSHQJDUXK
GHQJDQSHQGDSDWLQLGDQWHWDSPHQJDQJJDSTL\DV
VHEDJDLVDODKVDWXDVDVSHQWLQJGDODPLVWLQEDWKKXNXP
$ODVDQODLQ\DQJSDOLQJSRSXOHUGDQWDPSDNQ\DGL
VLQLODKDQGDVHNDOLODJLEXNDQDQWXPWHUMDWXK
DGDODKEDKZDMLNDNHEHEDVDQEHUSLNLUGLELDUNDQPDND
RUDQJDNDQFHQGHUXQJNHEDEODVDQ$SDNDKGHPLNHEHEDVDQ
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
0DLO
$GGUHVVHV
&KHFN0DLO
)ROGHUV
,QER[
&DOHQGDU
1RWHSDG
0DLO8SJUDGHV 0DLO2SWLRQV
6HQW
7UDVK
'HOHWH
>$GG (GLW@
)URP
>(PSW\@
5HSO\
)RUZDUG
6HDUFKWKH:HE
3ULQWDEOH9LHZ )XOO+HDGHUV
6SDP
0RYH
7KLVPHVVDJHLVQRWIODJJHG>)ODJ0HVVDJH 0DUNDV8QUHDG @
'DWH
:KDW
V\RXU&UHGLW
6FRUHFKHFNLW)5((
*HW<RXU+RW
/RZ5DWHV1RZ
6HDUFK0DLO
3UHYLRXV_1H[W _%DFNWR0HVVDJHV
'UDIW
$&UHGLW&DUG
IRU<RX
6HDUFK
:HOFRPH\XVXIDQVKDU
>6LJQ2XW0\$FFRXQW@
&RPSRVH
)UHH&RORU
)OLS3KRQHV
$SSO\IRUD
3HUVRQDO/RDQ
3DJH RI
7KX'HF367
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP!
6XEMHFW 5HDNDOVHKDW
7R
9LHZ&RQWDFW'HWDLOV
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!
6DODP
'DULPDQDDQGDPHQ\LPSXONDQVHMDNDZDOEDKZDGDODP
SHUVSHNWLI,VODPOLEHUDOWLGDNDGD\DQJVDODKGDQ
EHQDU"7LGDNDGDKDTGDQEDWLO"
6XGDKWHQWXKDOLWXDGD<DQJPHPEHGDNDQDQGDGHQJDQ
NDXP0XVOLPOLEHUDOVHSHUWLVD\DDGDODKEDWDVDQ
PHQJHQDLGXDLVWLODKLWX
$TLGDKNDPLDGDODK,VODPEXNDQVDWXVDWXQ\DDJDPD
\DQJEHQDUGDQEXNDQSXODSDOLQJEHQDU0DNVXGVD\D
,VODPVHEDJDLQDPDDJDPD\DQJGLEDZDROHK1DEL
0XKDPPDG.DPLPHPDQGDQJEDKZDNHEHQDUDQWHUVHEDU
GDODPVHPXDDJDPD2OHKNDUHQDLWXNDPLWLGDNDNDQ
PHPDQGDQJDJDPDODLQVHEDJDLEDWKLO
$GDVWDQGDUXQLYHUVDOWHQWDQJNHEDWKLODQ+DOLWX
WDPSDNGDODPKDOKDO\DQJEDLNVHFDUDZDK\XDWDXDNDO
VHKDWGLDQJJDSEDWDOVHSHUWLWLQGDNDQNHMDKDWDQ\DQJ
WHUNDQGXQJGDODP6HSXOXK3HUMDQMLDQ7HQ
&RPPDQGHPHQW
%HOXPWHQWXKDOKDO\DQJEHUODZDQDQGHQJDQNHWHQWXDQ
\DQJVHFDUDKDUDILDKWHUWHUDGDODP4XUDQDGDODKEDWLO
0LVDOQ\DKXNXPDQSHQMDUDEDJLSHQFXULDQ\DQJPHQXUXW
ILTKVXGDKPHPHQXKLV\DUDWXQWXNGLNHQDLKXNXPSRWRQJ
WDQJDQ
.HQDSDGHPLNLDQ"6HEDEGDODPNHUDQJNDEHSLNLUNDPL
WLGDNVHPXDKDO\DQJVHFDUDKDUDILDKWHUFDQWXPGDODP
4XU
DQPHVWLNLWDLNXWLVHFDUDKDUDILDKSXOD.HQDSD
GHPLNLDQNLWDGLVNXVLGLODLQNHVHPSDWDQNDODXVD\D
DGDZDNWX
6HNDUDQJVD\DDNDQPHQDQJJDSLSHUQ\DWDDQDQGDGLEDZDK
LQL
7LGDNDGDXNXUDQGDQNULWHULD\JWHUEDLNGDQ
!WHUVHKDWEDJLDNDOVHKDWXWNPHQHQWXNDQ
!EHQDUWLGDNQ\DVXDWXMDODQEHUDJDPDVHODLQXNXUDQ
!GDQNULWHULD\JGLWHWDSNDQROHK7XKDQ
$SD\DQJDQGDPDNVXGNDQGHQJDQMDODQDJDPD"$SDNDK
MDODQLWXPHQ\DQJNXWLEDGDKPX
DPDODKDNKODTDGDE
DWDXDSD"6HEDEDJDPDPHPLOLNLGLPHQVL\DQJNRPSOHNV
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
3DJH RI
'LOHYHOPDQDDQGDPDXEHUELFDUD"
$SD\DQJDQGDPDNVXGNDQGHQJDQNULWHULD\DQJ
GLWHWDSNDQROHK7XKDQ"%LVDNDKDQGDPHQJJXQDNDQ
LVWLODK\DQJMDXKOHELKVWDQGDUGDODPNHLOPXDQ,VODP"
6HEDELVWLODKNULWHULD7XKDQVDPDVHNDOLWLGDN
MHODV
6D\DWDNDNDQPHQMDZDESHUWDQ\DDQDQGDLQLNDODXDQGD
WLGDNPHQMHODVNDQPDVDODKLWXGXOX
8OLO
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!ZURWH
!0HPEDFDHPDLODQGD\JODOXNHVDQ\JVD\DWDQJNDS
!DGDODKXUDLDQDQGDOHELKEDQ\DNPHUXSDNDQFXUDKDQ
!SHUDVDDQGDQHPRVL\JFDPSXUDGXN
!NHVDOPXDNVLQLVNDJHWELQJXQJMDGLVDWX6D\D
!PHQJHUWLSHUDVDDQDQGDGDQVD\DWXUXWSULKDWLQGJ
!NHNHVDODQGDQNHELQJXQJDQDQGD1DPXQXSD\DVD\DXWN
!VHGLNLWPHQMHUQLKNDQGDQPHQHQDQJNDQDUXVSHPLNLUDQ
!NLWDDJDNWHUKDPEDWGJFXUDKDQSHPLNLUDQGDQHPRVL
!DQGD\JFXNXSGHUDV%DUDQJNDOLPHPDQJEHJLWXFDUD
!EHUSLNLUGDQPRGHOGLVNXVLDQGDGDQNRPXQLWDVDQGD
!GLXWDQND\X+DQ\DVDMDVD\DWDNLQJLQEHUVX
X
!]KDQQGHQJDQPHQJDWDNDQEDKZDLWXVDODKVDWXFDUD
!DQGDPHQJDFDXNDQNRQVHQWUDVLRUDQJ\JLQJLQEHUSLNLU
!OXUXVOXUXVVDMD
!
!7DSLWDNDSDODKPDULNLWDNHPEDOLPHQJXUDLEHQDQJ
!NXVXWNHWLPEDQJEHUODUXWODUXWGOPHPRVLGDQUDWDSDQ
!WKGXPPDW,VODP\JPHPDQJVDDWLQLVHGDQJ
!FHQWDQJSUHQDQJ%HQDQJPHUDKXUDLDQNLWDPDVLK
!VHSXWDUNHEHEDVDQEHUSLNLUGOPNDLWDQQ\DGJKDT
!EDWKLOEHQDU VDODKOXUXV VHVDW
!
!$GDVHGLNLWNHPDMXDQNDUHQDVHSHUWLQ\DDQGDVXGDK
!PHQJDNXLDGDQ\DMDODQEHUDJDPD\JVHVDWGDQEDWKLO
!GJSHUQ\DWDDQDQGDSUDNWHNSUDNWHN
!SHQ\HPEDKDQDJDPD\DQJPHODQJJDUSULQVLSLWXDNDQ
!GHQJDQVHQGLULQ\DGLWRODNROHKDJDPDDJDPDEHVDU
!0HVNLSXQDQGDEHOXPEHUDQLDWDXPDVLKPDOX
!PHQJJXQDNDQNDWDVHVDWGLVLWXWDSLPDNVXGQ\D
!NXUDQJOHELKVDPDNDUHQDMLNDVHPXDDJDPDDJDPD
!EHVDUDGDODKMDODQ\JEHQDUPHQXUXWDQGDEHUDUWL
!DSD\JGLWRODNROHKPHUHNDDGDODKMDODQ\J
!VDODK6DODKMDODQ VHVDW$ODLVDNDG]DOLN"
!
!1DKVDWXMDOLQDQEHQDQJNXVXWWHODKEHUKDVLONLWD
!WDULNVLPSXOQ\D\DLWXPHPDQJDGDMDODQ\JEHQDUGDQ
!DGDMDODQ\DQJVHVDWDWDXVDODKMDODQELODDQGD
!WLGDNWHJDPHQJJXQDNDQNDWDVHVDW6D\DQJQ\D
!NULWHULDEHQDUGDQVHVDWQ\DVXDWXMDODQEHUDJDPD
!DQGDVHUDKNDQEHJLWXVDMDWDQSDMHODVGDOLOGDQ
!DUJXPHQQ\DSDGDGXDKDO\DLWXDNDOVHKDWGDQ
!QLODLQLODLXQLYHUVDO\DLWXQLODLQLODL\J
!WHUGDSDWGOPVHPXDDJDPD'LVLQLSHPLNLUDQNLWD
!VDOLQJNXVXWODJL0DULNLWDFREDXUDLNDQMDOLQDQ
!EHQDQJNXVXWLQLGHQJDQPHQDULNVXDWXWLWLNWHPX\J
!NLWDVHSDNDWLEHUVDPD
!
!'DODPEHEHUDSDEDJLDQWXOLVDQDQGDGDODPHPDLOHPDLO
!\JWHUGDKXOXDQGDWHODKPHPEHULNDQVXDWXNHVLPSXODQ
!\JVDQJDWEHUKDUJDWWJDTLGDKNDXPOLEHUDO\DLWX
!EDKZDSURGXNDNDODGDODKUHODWLIVHGDQJNHEHQDUDQ
!PXWODNEHUVXPEHUGDUL7XKDQ.DODXPHPDQJGHPLNLDQ
!SHQJDNXDQGDQNH\DNLQDQDQGDEDJDLPDQDNDODXNLWD
!NDWDNDQVDMDNDUHQDGLWLWLNLQLSLNLUDQNLWD
!VHSDNDWEDKZD
!
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
0DLO
$GGUHVVHV
&KHFN0DLO
3DJH RI
6HDUFK
:HOFRPH\XVXIDQVKDU
>6LJQ2XW0\$FFRXQW@
&DOHQGDU
1RWHSDG
0DLO8SJUDGHV 0DLO2SWLRQV
&RPSRVH
3UHYLRXV_1H[W _%DFNWR0HVVDJHV
&HOO3KRQH
1R&UHGLW&KHFN
)ROGHUV
,QER[
'HOHWH
>$GG (GLW@
6HQW
7UDVK
)URP
>(PSW\@
:KDW
V\RXU&UHGLW
6FRUHFKHFNLW)5((
6HQGIDVWZLWK
ZHVWHUQXQLRQFRP
&UHGLW&DUGWR
%XLOGRUUH%XLOG
5HSO\
)RUZDUG
6HDUFKWKH:HE
3ULQWDEOH9LHZ )XOO+HDGHUV
0RYH
7KLVPHVVDJHLVQRWIODJJHG>)ODJ0HVVDJH 0DUNDV8QUHDG @
'DWH
'UDIW
$SSO\IRUD
3HUVRQDO/RDQ
6HDUFK0DLO
7KX'HF367
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!
$GGWR$GGUHVV%RRN
6XEMHFW NULWHULDDJDPD
7R
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP!
6D\DFXNXSVXUSULVHPHQGHQJDUSHUQ\DWDDQDQGDEDKZDDJDPDPHPLOLNL
GLPHQVL\DQJVDQJDWNRPSOHNV7DGLQ\DVD\DPHQJDQJJDSNDXPOLEHUDO
PHPSHUVHPSLWPDNQDDJDPDSDGDWDWDUDQPRUDOVDMD6\XNXUODKNDODXEHJLWX
%LODDQGDPHPLQWDVD\DPHPSHUMHODVGLOHYHOPDQDNDWDDJDPD\DQJVD\D
PDNVXGGDODPNDOLPDW
7LGDNDGDXNXUDQGDQNULWHULD\JWHUEDLNGDQWHUVHKDWEDJLDNDOVHKDWXWN
PHQHQWXNDQEHQDUWLGDNQ\DVXDWXMDODQEHUDJDPDVHODLQXNXUDQGDQNULWHULD\J
GLWHWDSNDQROHK7XKDQ
0DNDVD\DNDWDNDQEDKZDVHEHQDUQ\D\JVD\DPDNVXGDGDODKDJDPDGOP
DUWL\JVHOXDVOXDVQ\DGLVHPXDOLQLNHKLGXSDQ7DSLDJDUGLVNXVLNLWDWLGDN
WHUODOXPHOHEDUVHKLQJJDEHUWHOHWHOHDSDODJLDQGDVHGDQJVLEXNPXQJNLQLNXW
VHPLQDUQDWDOGVEPDNDGDODPGLVNXVLNDOLLQLVD\DPHPEDWDVLSDGDOHYHO
DTLGDKDWDXNHSHUFD\DDQVDMDGXOX
$GDSXQ\JVD\DPDNVXGGHQJDQNULWHULD\DQJGLWHWDSNDQROHK7XKDQWLGDNODK
WHUODOXPXOXNPXOXNDQGDWLGDNXVDKELQJXQJ3HUVLVVHSHUWLSHQJHUWLDQNULWHULD
\JWHUGDSDWGDODPNDPXVNDPXVNULWHULD VWDQGDUXNXUDQSDWRNDQQRUPD
'DODPNDLWDQQ\DGHQJDQ7XKDQGDQ$JDPDEHUDUWLNHSHUFD\DDQGDQDPDODQ
DSDVDMDGDODPEHUDJDPD\JKDUXVGLPLOLNLROHKVHVHRUDQJXQWXNPHQGDSDWNDQ
ULGKD7XKDQ.DODXDQGDPHPLQWDLVWLODK\JOHELKLVODPLHKP\D5XNXQ,PDQ
GDQ5XNXQ,VODPLWX7DSLVD\DNLUDVHRUDQJOLEHUDOLVVHMDWLPDFDPDQGDOHELK
VHQDQJPHQJJXQDNDQLVWLODK\JXQLYHUVDO
1DKNDODXNHGXDSHQJHUWLDQGLDWDVNLWDJDEXQJPDNDSHUQ\DWDDQWDGLELVD
GLSHUMHODVVHEDJDLEHULNXW
7LGDNDGDVWDQGDUXNXUDQSDWRNDQGDQQRUPD\DQJWHUEDLNGDQWHUVHKDWEDJL
DNDOVHKDWXWNPHQHQWXNDQEHQDUWLGDNQ\DVXDWXNHSHUFD\DDQDTLGDKGDODP
DJDPDVHODLQVWDQGDUXNXUDQSDWRNDQGDQQRUPD\DQJGLWHWDSNDQROHK
7XKDQ
6HNDOLODJLDSDNDKDQGDVHWXMXGHQJDQSHUQ\DWDDQGLDWDV".DODXDQGD
PHPDQJVHGDQJVXSHUVLEXNFXNXSGLMDZDEGHQJDQGXDKXUXI<$DWDX12
:DVVDODP
<XVXI
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
0DLO
$GGUHVVHV
&KHFN0DLO
,QER[
1RWHSDG
0DLO8SJUDGHV 0DLO2SWLRQV
6HDUFK0DLO
'HOHWH
>$GG (GLW@
6HQW
7UDVK
)URP
>(PSW\@
1RIHH/RZ5DWH
/LQHRI&UHGLW
5HSO\
)RUZDUG
6HDUFKWKH:HE
3ULQWDEOH9LHZ )XOO+HDGHUV
6SDP
0RYH
7KLVPHVVDJHLVQRWIODJJHG>)ODJ0HVVDJH 0DUNDV8QUHDG @
'DWH
:KDW
V\RXU&UHGLW
6FRUHFKHFNLW)5((
$&UHGLW&DUG
IRU<RX
&DOHQGDU
3UHYLRXV_1H[W _%DFNWR0HVVDJHV
'UDIW
*HWXSWR
%DQN2QOLQH
6HDUFK
:HOFRPH\XVXIDQVKDU
>6LJQ2XW0\$FFRXQW@
&RPSRVH
)UHH3KRQHV
DW&LQJXODU
)ROGHUV
3DJH RI
)UL'HF367
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP!
6XEMHFW 5HNULWHULDDJDPD
7R
9LHZ&RQWDFW'HWDLOV
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!
6DODP
-HODVNDQGXOXDSD\DQJDQGDPDNVXGGHQJDQNULWHULD
7XKDQGDODPPDVDODKDNLGDK
8UXVDQDNLGDKGDODP,VODPWLGDNVHVLPSHO\DQJDQGD
ED\DQJNDQ3HUWHQJNDUDQSHQGDSDWOXDUELDVDKHEDWQ\D
%DQ\DNVHNWHWLPEXOGLVDQD0DVLQJPDVLQJPHQGDNX
VHEDJDLSDOLQJEHQDUSDOLQJVHVXDLGHQJDQNULWHULD
7XKDQ
$SD\DQJDQGDPDNVXGGHQJDQNULWHULD7XKDQGDODP
DNLGDK"$SDVDMDLVLQ\D"
8OLO
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!ZURWH
!6D\DFXNXSVXUSULVHPHQGHQJDUSHUQ\DWDDQDQGDEDKZD
!DJDPDPHPLOLNLGLPHQVL\DQJVDQJDWNRPSOHNV7DGLQ\D
!VD\DPHQJDQJJDSNDXPOLEHUDOPHPSHUVHPSLWPDNQD
!DJDPDSDGDWDWDUDQPRUDOVDMD6\XNXUODKNDODX
!EHJLWX%LODDQGDPHPLQWDVD\DPHPSHUMHODVGLOHYHO
!PDQDNDWDDJDPD\DQJVD\DPDNVXGGDODPNDOLPDW
!
!7LGDNDGDXNXUDQGDQNULWHULD\JWHUEDLNGDQ
!WHUVHKDWEDJLDNDOVHKDWXWNPHQHQWXNDQ
!EHQDUWLGDNQ\DVXDWXMDODQEHUDJDPDVHODLQXNXUDQ
!GDQNULWHULD\JGLWHWDSNDQROHK7XKDQ
!
!0DNDVD\DNDWDNDQEDKZDVHEHQDUQ\D\JVD\DPDNVXG
!DGDODKDJDPDGOPDUWL\JVHOXDVOXDVQ\DGLVHPXD
!OLQLNHKLGXSDQ7DSLDJDUGLVNXVLNLWDWLGDN
!WHUODOXPHOHEDUVHKLQJJDEHUWHOHWHOHDSDODJLDQGD
!VHGDQJVLEXNPXQJNLQLNXWVHPLQDUQDWDOGVEPDND
!GDODPGLVNXVLNDOLLQLVD\DPHPEDWDVLSDGDOHYHO
!DTLGDKDWDXNHSHUFD\DDQVDMDGXOX
!
!$GDSXQ\JVD\DPDNVXGGHQJDQNULWHULD\DQJ
!GLWHWDSNDQROHK7XKDQWLGDNODKWHUODOXPXOXNPXOXN
!DQGDWLGDNXVDKELQJXQJ3HUVLVVHSHUWLSHQJHUWLDQ
!NULWHULD\JWHUGDSDWGDODPNDPXVNDPXVNULWHULD
!VWDQGDUXNXUDQSDWRNDQQRUPD'DODPNDLWDQQ\D
!GHQJDQ7XKDQGDQ$JDPDEHUDUWLNHSHUFD\DDQGDQ
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
0DLO
$GGUHVVHV
&KHFN0DLO
3DJH RI
6HDUFK
:HOFRPH\XVXIDQVKDU
>6LJQ2XW0\$FFRXQW@
&DOHQGDU
1RWHSDG
0DLO8SJUDGHV 0DLO2SWLRQV
&RPSRVH
3UHYLRXV_1H[W _%DFNWR0HVVDJHV
&HOO3KRQH
1R&UHGLW&KHFN
)ROGHUV
,QER[
'HOHWH
>$GG (GLW@
6HQW
7UDVK
)URP
>(PSW\@
:KDW
V\RXU&UHGLW
6FRUHFKHFNLW)5((
1RIHH/RZ5DWH
/LQHRI&UHGLW
$*RRG&DUGIRU
%DG&UHGLW
5HSO\
)RUZDUG
6HDUFKWKH:HE
3ULQWDEOH9LHZ )XOO+HDGHUV
0RYH
7KLVPHVVDJHLVQRWIODJJHG>)ODJ0HVVDJH 0DUNDV8QUHDG @
'DWH
'UDIW
NORDQIRU
PR*R
6HDUFK0DLO
6XQ'HF367
\XVXIDQVKDU\XVXIDQVKDU#\DKRRFRP!
$GGWR$GGUHVV%RRN
6XEMHFW NHVLPSXODQGDQVDUDQ
7R
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP!
0HVNLSXQDQGDWLGDNPHQMDZDEGHQJDQ\DDWDXQRWDSLGDULWHPDEDUX\J
DQGDDQJNDWGDSDWGLVLPSXONDQEDKZDDQGDVHWXMXGDQPHPDQJWLGDNELVD
WLGDNDQGDPHVWLVHWXMXGJSHUQ\DWDDQWVE.DUHQDSHUQ\DWDDQWVEDGDODK
NRQVHNXHQVLORJLVGDULSULQVLSNDXPOLEHUDOVHQGLULEDKZDSURGXNDNDODGDODK
UHODWLIVHGDQJNHEHQDUDQPXWODNEHUVXPEHUGDUL7XKDQ6D\DEHUWDQ\DVHWXMX
DWDXWLGDNKDQ\DODKXWNPHQJLQJDWNDQGDQPHQHJDVNDQNHPEDOLDTLGDKGDQ
DNVLRPDWVE.DUHQDVLDSDSXQ\JGLWDQ\DDVDONDQGLDWLGDNDWKHLVWHQWDQJ
VLDSD\JSDOLQJWDKXVHJDODKDODSDODJLWWJDJDPDDSDNDK7XKDQDWDX
PDQXVLDSDVWLDNDQPHQMDZDE7XKDQWDQSDSHUOXEHUSLNLUSDQMDQJODJL
PHVNLSXQGLDQWDUDPHUHNDVHQGLULPDVLKVLEXNEHUGHEDWWWJ7XKDQ<DKGL
VLWXODKDQHKQ\DPDQXVLDGDQGLVLWXODKKHEDWQ\D7XKDQ\JPHQFLSWDNDQ
PDQXVLD
'LEDZDKLQLVD\DXUXWNDQGXOXNHPDMXDQGDQNHVLPSXODQ\JWHODKNLWDFDSDL
GDULGLVNXVLLQL
$GDQ\DMDODQ\JKDTEHQDUOXUXVGDODPEHUDJDPDGDQDGDQ\DMDODQ\J
EDWKLOVDODKVHVDWGDODPEHUDJDPD
7LGDNDGD\DQJSDOLQJWDKXWWJMDODQ\JKDTEHQDUOXUXVGDODPEHUDJDPD
VHUWDMDODQ\JEDWKLOVDODKVHVDWGDODPEHUDJDPDVHODLQ7XKDQ
%DJDLPDQDFDUDPDQXVLDPHQGDSDWLOPX7XKDQLWX"-DZDEDQQ\DLDODKOHZDW
:DK\X2UDQJ\DQJPHQGDSDWZDK\XGDUL$OODKGLVHEXW1DELDWDX5DVXO
%HUKXEXQJNRPXQLWDVDQGDPDVLKPHQJDNXEHUDJDPD,VODPSDOLQJWLGDN
EHUODEHO,VODPPDND:DK\X\JGLPDNVXGGOPSHPELFDUDDQNLWDLQLWLGDNODLQ
DGDODKZDK\XWHUDNKLU\DNQLDO4XUDQ\JGLWXUXQNDQNHSDGD1DELGDQ5DVXO
WHUDNKLU\DNQL0XKDPPDGVDZ
.DODXGHPLNLDQEHUDUWLNHVLPSXODQGLDWDVNLWDWDPEDKGHQJDQNHVLPSXODQ
NHWLJDVEE
8QWXNPHQJHWDKXLMDODQ\JKDTEHQDUOXUXVGDODPEHUDJDPDVHUWDMDODQ\J
EDWKLOVDODKVHVDWGDODPEHUDJDPDNLWDKDUXVPHUXMXNSDGDILUPDQ$OODK
GDODPDO4XUDQGDQVDEGD5DVXOGDODPDO+DGLWV
6HNDUDQJEDUXODKNLWDPHPDVXNLPHGDQSHUWDUXQJDQVHVXQJJXKQ\DDQWDUD
VHPXDJRORQJDQVHNWHGDQDOLUDQ\JPHQJDNXGLUL,VODPWHUPDVXN-,/0HGDQ
SHUWDUXQJDQLWXDGDODK
0DQDMDODQEHUDJDPD\JKDTEHQDUOXUXVGDQPDQDMDODQEHUDJDPD\JEDWKLO
VDODKVHVDWPHQXUXW$OODKGDQ5DVXO1\DPHQXUXWDO4XUDQGDQDV
6XQQDK"
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
3DJH RI
+DOLQLVHVXDLGHQJDQGDQVXGDKPHQFDNXSSHUWDQ\DDQDQGDEDJDLPDQD
NULWHULDGDQPDWHULDTLGDKGDODP,VODP"0HQXUXWDQGDDTLGDK,VODPWLGDN
VLPSHOVHQJLWGLSHUWHQJNDUNDQKLQJJDPHQLPEXONDQEDQ\DNVHNWH%DJDLPDQD
LQL"
6HEHOXPQ\DDGDGXDSULQVLSGDQIDNWD\JKDUXVNLWDLQJDW
$TLGDK,VODPGHPLNLDQSXODDVSHNDVSHNODLQGOP,VODPDGDODKDSD\J
GLNDWDNDQROHKDO4XUDQGDQDV6XQQDKEXNDQDSD\JGLNDWDNDQROHKVHNWH
VHNWHXPPDW,VODP
6HNWHVHNWHWVEEDUXPXQFXOMDXKVHSHQLQJJDO1DELVDZGDQWLGDNNLWDGDSDWL
GL]DPDQ5DVXOXOODKVDZGDQSDUDVDKDEDWQ\D
0HQJDSDGL]DPDQ1DELEHOXPPXQFXOVHNWHVHNWH"3HQ\HEDEQ\DDGDGXD
.HWLNDLWXZDK\XPDVLKWXUXQGDQSHQHULPDZDK\X\JSXQ\DRWRULWDVXWN
PHQMHODVNDQQ\D\DLWX1DELPDVLKKLGXS6HKLQJJDVHPXDSHUWDQ\DDQ\J
WLPEXOVHSXWDU,VODPDNDQGLMDZDEODQJVXQJROHKQDUDVXPEHUNHEHQDUDQ
\DNQL$OODKOHZDWOLVDQ1DEL1\D
6LNDSSDUDVDKDEDW\JVDPL
QDZDDWKD
QDGDQWLGDNVXNDEHUWDQ\D\JWLGDN
SHUOX+DOKDO\JEHUNDLWDQGHQJDQDTLGDK\JGLVDPSDLNDQROHKDO4XUDQGDQDO
+DGLWVODQJVXQJPHUHNDLPDQLGDQ\JEHUNDLWDQGHQJDQDPDOL\DKODQJVXQJ
PHUHNDDPDONDQ
3HUVHOLVLKDQSHQGDSDW\JPHQMXUXVNHSHUSHFDKDQPXODLWHUMDGLVHWHODK
OHQ\DSQ\DIDNWRUSHUWDPDGLDWDV1DELZDIDW.HPXGLDQGDUL]DPDQNH]DPDQ
SHUSHFDKDQVHPDNLQPHQMDGLMDGLKLQJJDPHQLPEXONDQVHNWHVHNWHVHLULQJ
GHQJDQPDNLQOXQWXUQ\DZDWDNVDKDEDWIDNWRUNHGXDGLNDODQJDQXPPDW
,VODP/HPDKQ\DLPDQUHQGDKQ\DNHWDDWDQVHUWDEDQ\DNEHUWDQ\DGDQ
EHUGHEDWPHUXSDNDQSLQWXJHUEDQJWHUEHVDUGDULVLVLLQWHUQDOEDJLWLPEXOQ\D
VHNWHVHNWHGOP,VODP
$GDSXQGDULVLVLHNVWHUQDOPDVXNQ\DILOVDIDWGOPWXEXKXPPDW,VODP
GLVDPSLQJIDNWRUSROLWLNPHUXSDNDQVDODKVDWXSHQ\XPEDQJWHUEHVDUEDJL
PDUDNQ\DVHNWHVHNWHLWX0HQJDSDGHPLNLDQ"3HNHUMDDQILOVDIDWKDQ\DGXD
EHUWDQ\DGDQEHUGHEDWEHUGHEDWGDQEHUWDQ\DWDNSXWXVSXWXVQ\DEDJDLNDQ
OLQJNDUDQVHWDQNDUHQDELODEHUKHQWLEHUDUWLWDPDWODKULZD\DWILOVDIDW
6HDQGDLQ\DVHOXUXKILOVXI\JDGDGLGXQLDGLEHEDQNDQXWNPHQXQWDVNDQVDWX
SHUPDVDODKDQVDMDVHEHOXPEHUSLQGDKNHSHUPDVDODKDQVHODQMXWQ\DQLVFD\D
KDELVXPXUPHUHNDGDQKDELVXPXUGXQLDVHGDQJPHUHNDPDVLKVLEXNEHUSLNLU
WWJDSDLWXEHUSLNLU"5HQH'HVFDUWHV\JVHPSDWGLGXJDPDWLEXQXKGLUL
WHUNHQDOGJXFDSDQKDPSDQ\DFRJQLWRHUJRVXP DNXEHUSLNLUPDNDDNXDGD
.DODXEHQDULDEXQXKGLULPXQJNLQVDMDLDLQJLQPHPEXNWLNDQNHVLPSXODQQ\D
GDQWLGDNLQJLQNHVLPSXODQQ\DLWXGLSHUWDQ\DNDQODJL$SDODJLXWNPHPLNLUNDQ
WWJDNDODOLKDOLKXWNPHPLNLUNDQWWJ6DQJ3HQFLSWDDNDOGDQDSD\JGLPDXL
7XKDQ0DQDNDODFDUDILOVDIDWGLSDNDLGOPEHUDJDPDQLVFD\DNLWDWLGDNDNDQ
PHQGDSDWNDQKDVLODSDDSDVHODLQNHNXIXUDQ.HQDSD".DUHQDDJDPD
GLWXUXQNDQEXNDQXWNLWXGLSHUWDQ\DNDQGDQGLSHUGHEDWNDQ$JDPDGLWXUXQNDQ
XWNGLLPDQLGDQGLDPDONDQ1%ILOVDIDWGDQWXUXQDQQ\DVHEHWXOQ\DEHUJXQD
XQWXNPHPEDKDVVDLQVEXNDQDJDPD
%HUFHUPLQGDULNHGXDIDNWDGDQIDNWRUSHQ\HEDEQ\DGLDWDVPDNDGDSDWNLWD
VLPSXONDQEDKZDXWNPHQJHWDKXLDMDUDQ$OODKGDQ5DVXO1\D\JEHQDUNLWD
KDUXVNHPEDOLNHPDVDDZDO,VODPPHOLKDWEDJDLPDQDSDUDVDKDEDWSDGD
XPXPQ\DXWDPDQ\DDVVDELTXQDODZZDOXQNKXVXVQ\DDONKXODID
DU
UDV\LGXQPHQJLPDQLGDQPHQJDPDONDQDO4XUDQGDQDV6XQQDK,WXODK,VODP
\JPDVLKEHUVLKGDULGLVWRUVLGDQNRQWDPLQDVLVHNWHVHNWHGDQSHQDIVLUDQ
SHQDIVLUDQ\JPHQ\LPSDQJ%XNDQNDKDQGDVHQGLULSHUQDKEHUNDWD
$NLGDKNDXP0XVOLPOLEHUDODGDODKEDKZDVHWLDSSHPDKDPDQNLWDDWDV,VODP
DGDODKUHODWLINDUHQDWLGDNDGD\DQJWDKXNHEHQDUDQPXWODNVHODLQ$OODKGDQ
UDVXO1\D.LWDDGDODKPDQXVLDUHODWLI\DQJPHQFREDXQWXNPHPDKDPL
NHEHQDUDQ:DK\XWHODKEHUKHQWL6HWLDSRUDQJELVDPHQJXWLSD\DWDWDXKDGLV
WHWDSLSDGDDNKLUQ\DDSD\DQJLDNDWDNDQDGDODKSHQGDSDWQ\DVHQGLULEHOXP
WHQWXVHVXDLGHQJDQDSD\DQJGLNHKHQGDNL7XKDQ
6D\DNXWLSWDQSDSHUXEDKDQGDULHPDLODQGDWDQJJDO'HVHPEHU
0HPDQJSDUDVDKDEDWWHUPDVXNGOPSHUNDWDDQDQGDNLWDDGDODKPDQXVLD
UHODWLI7DSLVHSHUWL\JVD\DNHPXNDNDQGLDWDVVLNDSSDUDVDKDEDWWHUKDGDS
DO4XUDQGDQDO+DGLWVWLGDNVHSHUWLNLWD3DUDVDKDEDWWLGDNVXNDEHUWDQ\DGDQ
<DKRR0DLO\XVXIDQVKDU#\DKRRFRP
3DJH RI
EHUGHEDWGHPLNLDQSXODWLGDNVXNDPHQDNZLOGDQPHQDIVLUNDQ$SD\JPHUHND
WHULPDGDUL$OODKGDQ5DVXO1\DDO4XUDQGDQDV6XQQDKPHUHNDVLNDSL
GHQJDQLPDQGDQDPDO6HKLQJJDDSDDSD\JPHUHNDVHSDNDWLLMPD
SDUD
VDKDEDWEXNDQODKKDVLOSHQDIVLUDQGDQSHPDKDPDQSULEDGLPHUHNDPHODLQNDQ
KDVLOGDULVLNDSPHQJLPDQLGDQPHQJDPDONDQDSDDSD\JGLVDPSDLNDQROHK
$OODKGDQ5DVXO1\D,MWLKDGEDUXPHUHNDODNXNDQPDQDNDODPHQHPXNDQKDO
KDOEDUX\JWLGDNPHUHNDGDSDWLVHFDUDHNVSOLVLWGDODPDO4XUDQGDQDV
6XQQDKLWXSXQGHQJDQFDUD\JVDQJDWKDWLKDWLGDQWHWDSEHUODQGDVNDQDTLGDK
GDQNDLGDK\JPHUHNDGDSDWLGOPDO4XUDQGDQDV6XQQDK
'DULXUDLDQGLDWDVGDSDWNLWDWDULNNHVLPSXODQNHHPSDW\JPHUXSDNDQKDVLO
DNKLUGDULGLVNXVLNLWD\DLWX
-DODQEHUDJDPD\JKDTEHQDUOXUXVPHQXUXW$OODKGDQ5DVXO1\DDGDODK
MDODQEHUDJDPDVHEDJDLPDQD\JWHODKGLVHSDNDWLLMPD
ROHKSDUDVDKDEDW
5DVXOXOODKVDZVHGDQJMDODQEHUDJDPD\JEDWKLOVDODKVHVDWDGDODKMDODQ
EHUDJDPD\JEHUWHQWDQJDQGHQJDQNHVHSDNDWDQLMPD
SDUDVDKDEDW
5DVXOXOODKVDZ
.HHPSDWNHVLPSXODQGLDWDVNDODXDQGDPHQHODDKEDLNGLVNXVLNLWDGDULDZDO
KLQJJDNLQLSDGDGDVDUQ\DGLVDULNDQGDULSULQVLSDWDXSHUQ\DWDDQDQGD
VHQGLUL-DGLVD\DKDQ\DPHQFREDPHPHWDNDQNHPEDOLSULQVLSDQGDGDODP
ELQJNDL,VODP\JWHUOHSDVVHPHQWDUDDQGDVHQGLULWLGDNPDXPHOHSDVNDQODEHO
LVODPGDULQDPDMDULQJDQDQGDHQWDKNDUHQDSHUWLPEDQJDQVWUDWHJLVGXQLDZL
DWDXNDKXNKUDZL$OODKX$
ODPX
6HNDUDQJPDULNLWDLQWURVSHNVL$GDNDKGLDQWDUDSDUDVDKDEDW\JWLGDN
PHQJDQJJDSNDILURUDQJ\JPHPSHUWXKDQNDQ<HVXV.ULVWXV"$GDNDKGLDQWDUD
DONKXODID
DUUDV\LGXQ\JPHQJNDILUNDQVHVDPDPHUHNDVHEDJDLPDQD6\L
DK
\JPHQJNDILUNDQ$EXEDNDUGDQ8PDU"$GDNDKGLDQWDUDSDUDVDKDEDW\J
PHQJKDODONDQZDQLWDPXVOLPDKPHQLNDKGHQJDQSULDQRQPXVOLP"%DJDLPDQD
GHQJDQNRPXQLWDVDQGD"
%HQDQJGDQMDULQJNXVXW-,/WHODKVD\DXUDLNDQVHKLQJJDWHUSLVDKODKWDOL,VODP
GDULWDOLOLEHUDOGHQJDQHPSDWVLPSXOGLDWDV.LQLWHUSXODQJNHSDGDDQGDPDX
PHPHJDQJWDOL\DQJPDQD$OKDTTXPLQUDEELNDIDPDQV\DDIDO\X
PLQZD
PDQV\DDIDO\DNIXU6D\DWLGDNELVDEHUEXDWDSDDSDODJLVHODLQPHPEHULNDQ
VDUDQGDQLPEDXDQEHULNXW
%LODDQGDPDXEHUSHJDQJGHQJDQNHHPSDWDVDVGLDWDVEHUDUWLDQGDKDUXV
PHQDQJJDONDQSHPLNLUDQOLEHUDODQGD\JEHUWHQWDQJDQGHQJDQLMPD
DWDX
NHVHSDNDWDQNDXPPXVOLPLQ$QGDLNDWDLWXWHUMDGLVD\DPHQ\DUDQNDQDJDU
DQGDPHQJJDQWLQDPD-,/PHQMDGL-03-DULQJDQ0XVOLP3URJUHVLIPLVDOQ\D
6HRUDQJPXVOLP\JSURJUHVLIEHUSLNLUDQPDMXWLGDNPHVWLPHQDQJJDONDQ
DTLGDKGDQTDLGDKNHLVODPDQPHUHND$QGDELVDPHPEDKDVEHUEDJDLLVXLVX
DNWXDOVHSXWDUXPPDW,VODPGHQJDQMXMXUWHUEXNDGDQNULWLVWDQSDSHUOX
PHODQJJDUDMDUDQ,VODP
%LODDQGDWLGDNPDXPHOHSDVNDQSHPLNLUDQOLEHUDODQGDPDNDDQGDKDUXV
PHOHSDVNDQODEHO,VODPGDULQDPDNRPXQLWDVDQGDPLVDOQ\DPHQMDGL-8/
-DULQJDQ8PPDW/LEHUDO
%LODDQGDWLGDNPHQJLQGDKNDQVDODKVDWXGDULNHGXDVDUDQGLDWDVEHUDUWL
DQGDWHWDSEHUSHJDQJGHQJDQWDOLOLEHUDO\JNXIXUGDQPHOLOLWNDQQ\DGHQJDQWDOL
,VODPVHKLQJJDPHQJKDVLONDQSHPLNLUDQ\JNXVXWGDQVHVDWODJLPHQ\HVDWNDQ
EDQ\DNNDXPPXVOLPLQ,QQDOLOODKLZDLQQDLODLKLUDML
XQ
:DVVDODP
<XVXI
8OLO$EVKDU$EGDOODXOLO#\DKRRFRP! ZURWH