You are on page 1of 8

,&67h5.

67$1'$5',76(1


%HWRQ±6HUWOHúPLúEHWRQGHQH\OHUL%|OP
'HQH\QXPXQHOHULQLQH÷LOPHGD\DQÕPÕQÕQWD\LQL


 .DSVDP
%XVWDQGDUGVHUWOHúPLúEHWRQGHQH\QXPXQHOHULQLQH÷LOPHGD\DQÕPÕQÕQWD\LQLPHWRGXQXNDSVDU

$WÕI\DSÕODQVWDQGDUGYHYH\DGRNPDQODU
%XVWDQGDUGGDWDULKEHOLUWLOHUHNYH\DEHOLUWLOPHNVL]LQGL÷HUVWDQGDUGYHYH\DGRNPDQODUDDWÕI\DSÕOPDNWDGÕU
%X DWÕIODU PHWLQ LoHULVLQGH X\JXQ \HUOHUGH EHOLUWLOPLú YH DúD÷ÕGD OLVWH KDOLQGH YHULOPLúWLU 7DULK EHOLUWLOHQ
DWÕIODUGDGDKDVRQUD\DSÕODQWDGLOYH\DUHYL]\RQODUDWÕI\DSDQEXVWDQGDUGGDGDWDGLOYH\DUHYL]\RQ\DSÕOPDVÕ
úDUWÕ LOH X\JXODQÕU $WÕI \DSÕODQ VWDQGDUG YHYH\D GRNPDQÕQ WDULKLQLQ EHOLUWLOPHPHVL KDOLQGH HQ VRQ EDVNÕVÕ
NXOODQÕOÕU

(1,(&,62 $GÕ 76 $GÕ
1R øQJLOL]FH  12 7UNoH 


7HVWLQJIUHVKFRQFUHWH3DUW %HWRQ±7D]HEHWRQGHQH\OHUL±
(1 76(1
6DPSOLQJ %|OP1XPXQHDOPD
7HVWLQJKDUGHQHGFRQFUHWH±
3DUW6KDSHGLPHQVLRQVDQG
(1  
RWKHUUHTXLUHPHQWVIRUVSHFLPHQV
DQGPRXOGV
7HVWLQJKDUGHQHGFRQFUHWH±
(1 3DUW0DNLQJDQGFXULQJ  
VSHFLPHQVIRUVWUHQJWKWHVWV
7HVWLQJKDUGHQHGFRQFUHWH±
(1 3DUW&RPSUHVVLYHVWUHQJWK±  
VSHFLILFDWLRQIRUWHVWLQJPDFKLQHV


3UHQVLS
3UL]PD úHNLOOL GHQH\ QXPXQHOHUL PHVQHW DOW  YH \NOHPH VW  VLOLQGLUOHUL \ROX\OD \N X\JXODQDUDN H÷LOPH
PRPHQWLQHPDUX]EÕUDNÕOÕU8ODúÕODQHQE\N\NND\GHGLOLUYHH÷LOPHGD\DQÕPÕKHVDSODQÕU

&LKD]ODU
'HQH\PDNLQHVL
'HQH\(1¶HX\JXQGHQH\PDNLQHVLNXOODQÕODUDN\DSÕOPDOÕGÕU

<NX\JXODPDG]HQH÷L
<NX\JXODPDG]HQH÷L ùHNLO DúD÷ÕGDYHULOHQNÕVÕPODUGDQPH\GDQDJHOLU

 øNLPHVQHWVLOLQGLUL
 øNL\NOHPH VW VLOLQGLUL<NOHPHVLOLQGLUOHULPDNLQHWDUDIÕQGDQX\JXODQDQ\NQVLOLQGLUOHUDUDVÕQGDHúLW
SD\ODúWÕUÕOPDVÕQÕVD÷OD\DQPDIVDOÕNLULúHED÷ODQPÕúWÕU

%WQ VLOLQGLUOHU oHOLNWHQ LPkO HGLOPLú ROPDOÕ YH oDSODUÕ  PP LOk  PP DUDVÕQGD ROPDOÕGÕU 6LOLQGLUOHULQ
X]XQOXNODUÕGHQH\QXPXQHVLJHQLúOL÷LQGHQPPGDKDID]ODROPDOÕGÕU

øNLDGHWVW\NOHPHVLOLQGLULGDKLOROPDN]HUHoDGHWVLOLQGLUHNVHQOHULHWUDIÕQGDVHUEHVWoHG|QHELOLUROPDOÕ
YHGHQH\QXPXQHVLER\XQDHNVHQLQHGLNG]OHPGHH÷LOHELOLUROPDOÕGÕU





76(1278$WÕI\DSÕODQVWDQGDUGODUÕQ76QXPDUDVÕYH7UNoHDGÕYHNRORQGDYHULOPLúWLU
'ÕúWDEXOXQDQVLOLQGLUOHUDUDVÕQGDNLPHVDIH DoÕNOÕN  G¶\HHúLWROPDOÕGÕU%XUDGDGQXPXQHJHQLúOL÷LGLU
øoWHEXOXQDQVLOLQGLUOHUDUDVÕQGDNLPHVDIHLVHG¶\HHúLWROPDOÕGÕUøoWHEXOXQDQVLOLQGLUOHUùHNLO¶GHJ|VWHULOGL÷L

 
,&67h5.67$1'$5',76(1

JLEL GÕúWDNL VLOLQGLUOHU DUDVÕQGDNL DoÕNOÕN o HúLW SDUoD\D E|OQHFHN NRQXPGD \HUOHúWLULOPHOLGLU %WQ
VLOLQGLUOHULQùHNLO¶GHJ|VWHULOHQNRQXPODUÕrPP\DNODúÕPODD\DUODQPDOÕGÕU

'HQH\QXPXQHOHUL
*HQHO
'HQH\QXPXQHOHUL(1±¶HX\JXQSUL]PDúHNLOOLROPDOÕGÕU.DOÕSODUDG|NOHUHNKD]ÕUODQDQQXPXQHOHU
(1  YH (1 ¶\H X\JXQ ROPDOÕGÕU %HWRQ \HUOHúWLULOPH \|Q G|NP \|Q  QXPXQH ]HULQGH
LúDUHWOHQPHOLGLU

'HQH\GH(1¶GHYHULOHQ|]HOOLNOHUHX\JXQNHVLOPLúQXPXQHOHUGHNXOODQÕODELOLU

'HQH\QXPXQHOHULLQFHOHQPHOLYHEHOLUOHQHQKHUKDQJLX\JXQVX]OXNND\GHGLOPHOLGLU

'HQH\QXPXQHOHULQLQG]HOWLOPHVL
'HQH\QXPXQHVLQLQER\XWYH\DúHNLOOHULQLQYHULOHQWROHUDQVODUÕJHoPHVLQHGHQL\OH(10DGGH¶H
X\JXQROPDPDVÕKDOLQGHQXPXQHOHUUHGGHGLOPHOLYH\DDúD÷ÕGDYHULOHQLúOHPOHUOHG]HOWLOPHOLGLU

 ']JQROPD\DQ\]H\OHUDúÕQGÕUPDLúOHPL\OHG]HOWLOPHOLGLU
 $oÕGDQVDSPDNHVPHYHYH\DDúÕQGÕUPDLúOHPL\OHG]HOWLOPHOLGLU

øúOHPOHU
1XPXQHOHULQKD]ÕUODQPDVÕYH\HUOHúWLULOPHVL
6X LoHULVLQGH EHNOHWLOHQ QXPXQHOHU GHQH\ LoLQ VXGDQ oÕNDUWÕOGÕNWDQ VRQUD \]H\OHULQGHNL ID]OD VX GHQH\
PDNLQHVLQH\HUOHúWLULOPHGHQ|QFHVLOLQHUHNWHPL]OHQPHOLGLU

'HQH\ PDNLQHVLQLQ WP \NOHPH \]H\OHUL VLOLQHUHN WHPL]OHQPHOL GHQH\ QXPXQHVLQLQ VLOLQGLUOHULQ WHPDV
HGHFH÷L\]H\OHULQGHNLKHUKDQJLJHYúHNWDQHYH\DGL÷HUID]ODOÕNPDO]HPHDOÕQPDOÕGÕU

'HQH\ QXPXQHVL PDNLQH\H WDP PHUNH]OHQHUHN YH QXPXQH ER\XQD HNVHQL VW YH DOW \NOHPH VLOLQGLUOHUL
ER\XQDHNVHQLQHGLNDoÕWHúNLOHGHUúHNLOGH\HUOHúWLULOPHOLGLU

5HIHUDQV\NOHPHGR÷UXOWXVXQXQQXPXQHQLQEHWRQ\HUOHúWLUPHGR÷UXOWXVXQDGLNROPDVÕVD÷ODQPDOÕGÕU

1RW<NOHPHGR÷UXOWXVXQXQEHWRQG|NP\|QQHJ|UHNRQXPXGHQH\VRQXFXQXHWNLOH\HELOLU

<NOHPH
<NOHPH YH PHVQHW VLOLQGLUOHULQLQ WP QXPXQH \]H\LQH G]JQ úHNLOGH WHPDV HWPHGHQ \N
X\JXODQPDPDOÕGÕU

<NOHPHKÕ]Õ03DV 1PP V LOk03DV 1PP V DUDVÕQGDVDELWJHULOPHDUWÕúKÕ]ÕVD÷ODQDFDN
 

úHNLOGH D\DUODQPDOÕGÕU <N GDUEH HWNLVL ROXúWXUXOPDGDQ VHoLOHQ KÕ] r   VDSPD VÕQÕUODUÕ LoHULVLQGH
VD÷ODQDUDNQXPXQHNÕUÕOÕQFD\DNDGDUVDELWKÕ]GDDUWWÕUÕOPDNVXUHWL\OHX\JXODQPDOÕGÕU

1RW'HQH\PDNLQHVLWDUDIÕQGDQX\JXODQPDVÕJHUHNOL\NOHPHKÕ]ÕDúD÷ÕGDYHULOHQHúLWOLNOHEXOXQXU

V G  G 


 5 
/
%XUDGD
 5*HUHNOL\NOHPHKÕ]Õ1V
 V*HULOPHDUWÕúKÕ]Õ03DV 1PP V 


 G YHG 1XPXQHQLQHQNHVLWER\XWODUÕPP


 /0HVQHWVLOLQGLUOHULDUDVÕQGDNLDoÕNOÕNPP

GLU
'HQH\GHHOOHNRQWUROHGLOHQGHQH\PDNLQHVLNXOODQÕOPDVÕKDOLQGHQXPXQHGHNÕUÕOPD\NQH\DNODúÕOGÕ÷ÕQGD
\NOHPHKÕ]ÕGúPHH÷LOLPLJ|VWHULU%XQHGHQOHKÕ]VUHNOLNRQWUROHGLOHUHND\DUODQPDOÕGÕU

<NJ|VWHUJHVLQGHXODúÕODQHQE\N\NND\GHGLOPHOLGLU
 
,&67h5.67$1'$5',76(1


1XPXQHQLQ\NOHPHVLOLQGLUOHULQLQ ùHNLO GÕúNÕVPÕQGDQNÕUÕOPDVÕKDOLQGHEXGXUXPND\GDJHoLULOPHOLGLU

 6RQXoODUÕQJ|VWHULOPHVL
(÷LOPHGD\DQÕPÕDúD÷ÕGDYHULOHQHúLWOLNNXOODQÕODUDNKHVDSODQÕU
 


)"
I
G G

%XUDGD
 I   (÷LOPHGD\DQÕPÕ03D 1PP 


 )(QE\N\N1
 0HVQHWVLOLQGLUOHULDUDVÕQGDNLDoÕNOÕNPP
 G G 1XPXQHQLQHQNHVLWER\XWODUÕPP ùHNLO 



GLU

(÷LOPHGD\DQÕPÕHQ\DNÕQ03D 1PP ¶\D\XYDUODWÕODUDNJ|VWHULOPHOLGLU



'HQH\UDSRUX



'HQH\UDSRUXQGDDúD÷ÕGDYHULOHQELOJLOHUEXOXQPDOÕGÕU

D  'HQH\QXPXQHVLQLQWDQÕWÕPÕ
E  1XPXQHQLQEHOLUWLOHQYH\D|OoOHQER\XWODUÕ
F  1XPXQHQLQDúÕQGÕUÕOPD\ROX\ODG]HOWLOPHGHWD\ODUÕ \DSÕOPÕúVD 
G  <NOHPHG]HQH÷LQLQWLSLLNLQRNWDGDQ\NOHPHOLRUWDQRNWDGDQ\NOHPHOL
H  1XPXQH\]H\LQLQGHQH\DQÕQGDNLUXWXEHWGXUXPX GR\JXQQHPOL 
I  'HQH\WDULKL
J  .ÕUÕOPDDQÕQGDXODúÕODQHQE\N\NN1
K  1XPXQHQLQH÷LOPHGHoHNPHGD\DQÕPÕHQ\DNÕQ03D 1PP ¶\H\XYDUODWÕODUDN


L  .ÕUÕOPDNHVLWLQLQ\HUL NÕUÕOPDVW\NOHPHVLOLQGLUOHULGÕúÕQGDPH\GDQDJHOPLúVH 
M  6WDQGDUGGHQH\PHWRGXQGDQRODQKHUKDQJLVDSPD
N  6WDQGDUGGHQH\PHWRGXQGDQKHUKDQJLVDSPD N0DGGHVL ND\GHGLOPHPLúVHGHQH\L\DSDQNLúL
WDUDIÕQGDQGHQH\LQEXVWDQGDUGDX\JXQ\DSÕOGÕ÷ÕQDGDLUEH\DQ

'HQH\UDSRUXQGDDúD÷ÕGDYHULOHQELOJLOHUGHEXOXQDELOLU

O  .UHEDúODQPDLoLQQXPXQHQLQWHVOLPEHOJHVLQGHNLúDUWODUÕ
P  'HQH\DQÕQGDNLQXPXQH\DúÕ ELOLQL\RUVD 
Q  %HWRQXQJ|UQP QRUPDOGH÷LOVH 



 .HVLQOLN
%XGHQH\YH\D(N$¶GDWDULIHGLOHQDOWHUQDWLIGHQH\LoLQNHVLQOLNYHULOHULKHQ]PHYFXWGH÷LOGLU




 
76(1278'HQH\UDSRUXEXUDGDLVWHQLOHQELOJLOHUHLOkYHWHQ76(1,62,(&¶WHYHULOHQELOJLOHULGH
LKWLYDHGHFHNúHNLOGHG]HQOHQHELOLU

 
,&67h5.67$1'$5',76(1














$oÕNODPD
<NOHPHVLOLQGLUL G|QHELOHQYH\DQDH÷LOHELOHQ 
0HVQHWVLOLQGLUL
0HVQHWVLOLQGLUL G|QHELOHQYH\DQDH÷LOHELOHQ 

ùHNLO'HQH\QXPXQHVLQL\NOHPHG]HQH÷L øNLQRNWDGDQ\NOHPH 




























$oÕNODPD
<NOHPHVLOLQGLUL G|QHELOHQYH\DQDH÷LOHELOHQ 
0HVQHWVLOLQGLUL
0HVQHWVLOLQGLUL G|QHELOHQYH\DQDH÷LOHELOHQ 

ùHNLO'HQH\QXPXQHVLQL\NOHPHG]HQH÷L RUWDQRNWDGDQ\NOHPH 


 
,&67h5.67$1'$5',76(1


(N$

2UWDQRNWDGDQ\NX\JXODQDUDN\NOHPH


$  'HQH\LQ QXPXQH\H RUWD QRNWDGDQ \N X\JXODQPDVÕ \ROX\OD JHUoHNOHúWLULOPHVL GXUXPXQGD GHQH\
PHWRGXEXHNWHWDULIHGLOHQúHNLOGHGH÷LúWLULOHUHNX\JXODQPDOÕGÕU

1RW %X GHQH\ PHWRGX LNL QRNWDGDQ \NOHPH \ROX\OD JHUoHNOHúWLULOHQ GHQH\ PHWRGXQD J|UH GDKD \NVHN
H÷LOPH GD\DQÕPÕ GH÷HUL YHULU (& gOoPH YH 'HQH\ 3URJUDPÕ WDUDIÕQGDQ 0$7 &7 LOH  ED÷ODQWÕOÕ
úHNLOGH  \DSÕODQ NÕ\DVODPDOÕ oDOÕúPDGD RUWD QRNWDGDQ \NOHPH GHQH\L LOH EXOXQDQ VRQXoODU LNL QRNWDGDQ
\NOHPHPHWRGX\ODEXOXQDQDJ|UHGDKD\NVHNGH÷HUYHUPLúWLU

$<NX\JXODPDG]HQH÷L
<NOHPH G]HQH÷L ùHNLO ¶GH J|VWHULOGL÷L JLEL DoÕNOÕN RUWDVÕQD \HUOHúWLULOPLú ELU DGHW \N X\JXODPD
VLOLQGLULQGHQPH\GDQDJHOLU

<NX\JXODPDVLOLQGLULG|QPHVHUEHVWOL÷LQHVDKLSROPDOÕGÕU

$<NX\JXODQPDVÕ
<N0DGGH¶\HX\JXQúHNLOGHX\JXODQPDOÕDQFDN\NOHPHKÕ]ÕDúD÷ÕGDYHULOHQHúLWOLNOHKHVDSODQPDOÕGÕU

  G  G  V


 5 
 "

%XUDGD
 5*HUHNOL\NOHPHKÕ]Õ1V
 V*HULOPHDUWÕúKÕ]Õ03DV 1PP V 


 0HVQHWVLOLQGLUOHULDUDVÕQGDNLDoÕNOÕNPP
G YHG 1XPXQHQLQHQNHVLWER\XWODUÕPP ùHNLO 


 
GLU

$6RQXoODUÕQJ|VWHULOPHVL
(÷LOPHGD\DQÕPÕDúD÷ÕGDYHULOHQHúLWOLNNXOODQÕODUDNKHVDSODQÕU
 


 )  "
I
 G  G

%XUDGD
 I   (÷LOPHGD\DQÕPÕ03D 1PP 


 )(QE\N\N1


0HVQHWVLOLQGLUOHULDUDVÕQGDNLDoÕNOÕNPP
G G 1XPXQHQLQHQNHVLWER\XWODUÕPP



GLU

(÷LOPHGD\DQÕPÕHQ\DNÕQ03D 1PP ¶\H\XYDUODWÕODUDNJ|VWHULOPHOLGLU




$'HQH\UDSRUX
'HQH\UDSRUXQGDRUWDQRNWDGDQ\NOHPHPHWRGXQXQNXOODQÕOGÕ÷ÕDoÕNúHNLOGHEHOLUWLOPHOLGLU

øoLQGHNLOHU

 
,&67h5.67$1'$5',76(1

.DSVDP  
$WÕI\DSÕODQVWDQGDUGYHYH\DGRNPDQODU  
3UHQVLS  
&LKD]ODU  
'HQH\QXPXQHOHUL  
øúOHPOHU 
6RQXoODUÕQJ|VWHULOPHVL  
'HQH\UDSRUX  
.HVLQOLN  
(N$2UWDQRNWDGDQ\NX\JXODQDUDN\NOHPH  






































gQV|]

 %X WDVDUÕ &(1 WDUDIÕQGDQ NDEXO HGLOHQ (1     HVDV DOÕQDUDN 76( øQúDDW +D]ÕUOÕN *UXEX¶QFD
KD]ÕUODQPÕúWÕU



,&67h5.67$1'$5',76(1

%XVWDQGDUGÕQNDEXOLOH76YH76LSWDOHGLOHFHNWLU















































 

7h5.67$1'$5',

785.,6+67$1'$5'







76(1
 










You might also like