Introduction

PT Agung Podomoro Land Tbk. (APLN) is a leading integrated diversified real estate owner,
developer and manager in the retail, commercial and residential real estate segments with
diversified holdings. We have an integrated property development model, from land acquisition
and/or sourcing, to design and development, to project management, sales, commercial leasing
and marketing, to the operation and management of our superblock developments, shopping
malls, offices, hotels, and residential apartments and houses. We are known as a pioneer of the
superblock development. Our high quality landmark projects, to name a few are Podomoro
City, Kuningan City, Green Bay Pluit, Podomoro City Deli Medan and Senayan City. We also
develop several high quality township projects namely Podomoro Park Bandung, Podomoro
Gof View Cimanggis, premium super luxury project namely Bukit Podomoro Jakarta and
affordable township project namely Kota Podomoro Tenjo.

APLN was established on July 30, 2004 under the name PT Tiara Metropolitan Jaya. In 2010,
our shareholders completed a corporate restructuring, pursuant to which six developments and
their holding companies were transferred to control. APLN, the flagship listed entity
(IDX:APLN) of Agung Podomoro Group (APG), is one of the fastest growing and largest real
estate developers in Indonesia with interests in superblocks, retail properties, office, apartments
and residential, and hotels. Nowadays, APLN is broadening its developments into industrial
estate and reclamations.

APG established its first development, a housing complex in Simprug area, South Jakarta, in
1969 and completed its construction in 1973. From 1973 to present, members of APG
completed or begun construction of more than 70 property projects, with majority addressed to
middle class segments of society, with projects ranging from low cost apartments to high end
apartments, high end shopping malls, shop houses, hotels and office towers.

APLN combines a visionary approach to design with an emphasis on rapid execution and time
to market. With our unique business model, we adopt fast churn concept with high capital
turnover. Unlike other developers with massive landbank, we will only manage sizeable land
bank to be directly developed mostly into mixed-use/superblock in the city. Drawing on the
experience and resources of the Agung Podomoro Group, we have been responsible for
bringing a number of landmark properties on the market such as our flagship Central Park
development and the high profile Senayan City Mall. We also pioneered the superblock
concept, bringing together residential, retail, leisure and office space within one integrated high
rise development complex to create a pleasant and extremely convenient urban living space,
with both sale and lease components.

Our “Back to the City” campaign has continued to provide consumers with an alternate way of
living through our one-stop-living high quality Superblock developments, which offer the
possibility for a balanced and pleasant urban lifestyle to thousands of consumers.

By working quickly and efficiently, our flexible and scalable model keeps use of capital and
resources to a minimum at any given time. In addition, capitalizing on our network and good
brand name, our strong and experienced marketing team is typically able to generate strong
advance interest for cash generation through sales, deposits, and installments.
We also pay close attention to the mix of revenues streams coming from sales versus recurring
revenues. We nurtured our existing commercial properties such as malls and hotels, within
superblocks, a winning proposition in major urban cities due to their ability to offer a balanced
lifestyle. We branched out into malls and hotels as part of our strategy to increase recurring
revenues.

Going forward, APLN is strongly positioned to compete, supported by our rapid response,
decision-making, strong execution capabilities and balance sheet. Geographically, we continue
to expand into secondary cities in Java, such as Bogor, Bandung, Karawang, and also outside
Java like Bali, Medan, Batam, Balikpapan and Makassar.

In addition to develop superblock and high rise building, we also develop some high quality
township projects namely Podomoro Park Bandung, Podomoro Golf View Cimanggis,
premium super luxury project namely Bukit Podomoro Jakarta and affordable township project
namely Kota Podomoro Tenjo. Overall, we will continue to maintain a flexible and
opportunistic approach to investing wherever we see the right opportunities in the market, while
striving to adhere to the principles of prudent capital management and fast build cycles,
keeping our funds in play.

Leadership IN PT Agung Podormo

The meaning of the word "Leadership" is leadership, or more broadly, it is an attitude to

influence, motivate, and also delegate others to accomplish specific tasks to achieve goals.
Leadership is a crucial factor in a company because without leadership, a company will not
function well. Moreover, it is challenging to possess this leadership ability as it comes with
experience. An example of leadership is Barelius Ruru at PT Agung Podoromo. The leadership
figure at PT Agung Podoromo has extensive experience. Barelius Ruru has 26 years of
experience in the finance department, state ministry offices, state-owned enterprises, Indonesia
Stock Exchange, PT Telkomunikasi Indonesia, etc. Barelius Ruru served as the Chief Executive
Officer at PT Agung Podoromo in 2019. He is assisted by the deputy director of PT Agung
Podoromo, Noer Indradjaja. Noer Indradjaja has been serving as the deputy CEO since 2015
and has held various positions as a board member and/or commissioner in several subsidiary
entities. Additionally, both CEOs are supported by other directors, such as Cesar M. Dela Cruz,
Miarni Ang, Paul Christian Ariyanto, Anak Agung Mas Wirajaya.

With the skills possessed by Barelius Ruru, Noer Idradjaja, and other directors, PT Agung
Podoromo has experienced progress. Recently, PT Agung Podoromo is planning to undertake a
new project in the Karawang area. Three projects in Karawang include a 500-hectare Podomoro
Industrial Park, the Astakona project on approximately 130 hectares of land, and the 5.6-hectare
Taruma City superblock project. The development of these new property projects is the
company's initiative to optimize every economic growth opportunity, both locally and
nationally. Besides generating a multiplier effect on other business sectors, property projects
are crucial given the significant number of people who still do not have housing. PT Agung
Podoromo also received Rp 337.8 billion from its hotel and mall business. To strengthen the
company's fundamentals in facing future business challenges, PT Agung Podoromo will always
execute every planned strategy with disciplined and measured management, while prioritizing
efficiency in business operations.

So, leadership in a company is essential because with leadership in a company, it ensures the
company's advancement. Besides having a leader, what should be considered to advance the
company is that a leader must have leadership skills. If a person lacks leadership skills, it will
lead to a decline in the company. The benefits of having good leadership include boosting team
morale, shaping values and goals, improving communication skills, producing future leaders,
forming a healthy work culture, motivating team members to grow, and increasing company
revenue. All of these will have a positive impact on the company and its future.
Organizational Culture

Organizational culture is the set of values, beliefs, attitudes, systems, and rules that outline
and influence employee behavior within an organization. The culture reflects how
employees, customers, vendors, and stakeholders experience the organization and its brand.
A great organizational culture is the key to developing the traits necessary for business
success.
Organizational culture affects all aspects of your business, from punctuality and tone to
contract terms and employee benefits. When workplace culture aligns with your employees,
they’re more likely to feel more comfortable, supported, and valued. Companies that
prioritize culture can also weather difficult times and changes in the business environment
and come out stronger.
Agung Podomoro Recruitment Center tries to make organizational culture the basis for
creating a conducive and effective work climate so that employees can work optimally. All
employees and interns at the Agung Podomoro Recruitment Center always emphasize
"Communication" which is the basis for working within the company. The purpose of
communication is to provide information to each employee in order to create a common
understanding so that each other understands each other and the relationship between
employees is better maintained. Everything that happens within the company should always
communicate between employees.

Organizational Culture of the Agung Podomoro Recruitment Center Maintaining

Communication Between Employees The communication pattern at the Agung Podomoro
Recruitment Center is direct. This means that when someone has a need to communicate, he
or she may directly convey the information without having to go through several stages (for
example, employees may directly convey information or communicate to the Manager
without having to go through the Assistant Manager first). But all of this must also be based
on communication ethics and trust. If the information provided or obtained is important, then
communication between departments can use communication media such as email as
recording evidence. So the communication there is not rigid and bureaucratic, but you still
have to pay attention to trust and communication ethics in it to avoid conflict.
Communication can be done verbally and non-verbally such as chatting, email, telephone and
there are no special rules or procedures for communicating. As long as it helps work faster
and makes it easier to disseminate information within the company, employees more often
use communication tools such as email and WhatsApp groups.

Apart from how to communicate within the company, there are also several cultures that can
maintain communication between employees, such as the culture of eating together which
has a role in maintaining communication between employees which builds closer and more
intimate relationships between fellow employees, being able to discuss problem solving
when there is free time. This organizational culture will merge individualism, such as
communicating via email, even in the same room, provided that you don't want to disturb the
employee's concentration while working, so email or WhatsApp is used as a communication
tool so that the communication process continues to run smoothly. Communication that is
flexible and not too formal is what can maintain communication between employees and
superiors. Basically, the culture in the Agung Podomoro Recruitment Center company
maintains communication within the company, such as morning briefings so that employees
understand what needs to be done and the targets for that day and for the future, the ritual of
gathering and eating together which makes each other become a close employee and can
build better communication, use flexible communication media such as
WhatsApp, email, so that both from superiors to employees and vice versa can quickly
convey information and continue to carry out the communication process easily without
having to meet in person. The work process becomes faster with the use of this media.
Work Diversity In PT Agung Podoromo

The meaning of diversity is very broad, as it can be interpreted as differences in color,

ethnicity, abilities, age, gender, beliefs, interests, socioeconomic status (class), marital or
partnership status, sexual orientation, geographic location, academic/professional background,
opinions, thoughts, experiences, and many other characteristics. Diversity can be found
everywhere, but what I am discussing here is diversity in the workplace. Diversity in the
workplace means having a workforce that encompasses different backgrounds and national
origins. This includes gender, socioeconomic status, and cultural diversity, among others. It
also means that the organization fosters a sense of belonging that makes everyone feel like they
are part of the team.

Diversity has various types, one of which is organizational diversity. Organizational diversity
refers to differences in job functions, work experience, seniority, departments, or management
levels. Often, entire departments or company levels can become homogeneous, where everyone
looks the same, comes from the same background, or has the same experience. Diversity is an
important factor for a company because if an organization knows how to embrace it, then it is a
good company. Knowing how to embrace and appreciate diversity in a company can provide
many benefits, such as increased creativity and innovation, a variety of skills and broader
knowledge, improved decision-making, enhanced problem-solving, improved financial
performance, and more.

The diversity that occurs at PT Agung Podoromo includes members with different
backgrounds. PT Agung Podoromo also recruits its employees without considering religion,
ethnicity, gender, race, background, or sexual orientation. For example, the Chief Executive
Officer, Deputy CEO, and other Directors have different backgrounds. The CEO was born in
North Sulawesi and had experience overseeing and controlling various people with different
skills in various fields at the Ministry of State-Owned Enterprises before serving as the CEO at
PT Agung Podoromo. The Deputy CEO was born in Banten and had been a CEO in various
places, encountering diverse skills in different companies before holding the position at PT
Agung Podoromo. Other Directors were born in different regions and have experiences with
diverse types of diversity. This proves that PT Agung Podoromo implements diversity.

In conclusion, PT Agung Podoromo indeed experiences diversity in its company, with the
CEO, Deputy CEO, and other Directors having different birthplaces and diverse experiences.
The benefit of implementing diversity for PT Agung Podoromo is that the company will
establish good communication with existing differences, and with good communication, a
company will develop into a better one.
Employee Development In PT Agung Podoromo

Employee development is the practice of learning new skills and honing existing ones. With the
support of their employers, employees can take the time to learn how to use new technologies
and techniques, enhance their industry or subject matter knowledge, and cultivate their
competencies in various areas. Employee development is crucial because employers want
highly skilled employees, and employees want to succeed in their roles. Employee development
involves several strategies, such as attracting the best talent, retaining employees, engaging
them, and improving business performance. Employee development is highly needed in
companies. Without proper management, it is challenging for a company to optimize employee
performance.

As exemplified by PT Agung Podoromo, organizing a comprehensive orientation program does

not guarantee that new employees can immediately perform their tasks satisfactorily. This
means that new employees still need training on various aspects of the assigned tasks. The
combination of new employees' skills with specific orientation and training programs does not
fully guarantee the elimination of the gap between job skills and task requirements. Even
experienced employees always need skill enhancement. This is where the importance of human
resource development (HRD) comes in because training can be a developmental process for
employees in preparing them for significant responsibilities in organizational tasks and goals.

The success of an organization/company, especially in the property development business,

relies heavily on the company's ability to achieve optimal performance. Optimal performance
can be achieved through effective organizational coordination. This is where the role of the
Head of the HRD Division comes in, coordinating staff to improve the performance of
employees through the implementation of employee training. It is also essential to have an
evaluation of the training to measure the extent to which empowerment/training programs have
been maximized or vice versa. PT Agung Podoromo has established a division called the
Human Resources Learning Center (HR LC), responsible for providing training to its
employees. HR LC's training includes the preparation, implementation, and evaluation of the
training results obtained from participants/employees. In conducting the training process, HR
LC needs efficient coordination based on a proper structure and division of tasks.

In conclusion, developing employees in a company will have a positive impact if done

correctly. PT Agung Podoromo, through its orientation program and the establishment of the
Human Resources Learning Center (HR LC), demonstrates the importance of employee
development in enhancing the overall performance of the company. These initiatives contribute
to the development of the company, making it better over time.
Agung Podomoro Land places a high priority on employee development, understanding that
a skilled and motivated workforce is crucial to achieving organizational goals. The company
invests significantly in various training programs and initiatives to enhance the professional
capabilities of its employees. This investment covers a spectrum of skills, ranging from
technical aspects of real estate development to fundamental skills such as leadership,
communication, and teamwork.
Regular training sessions and workshops are routinely organized to keep employees updated
on industry trends, technological advancements, and best practices. APL's commitment to
continuous learning is evident in its provision of opportunities for employees to attend
seminars, conferences, and certification programs, fostering a culture of knowledge-sharing
and growth.
Performance evaluations are not just a formality at APL; they serve as a tool to identify
strengths and individual areas for improvement. This feedback loop enables the creation of
personalized development plans, ensuring that employees not only meet current job
requirements but also prepare for future challenges in the real estate sector.
Beyond traditional training programs, APL actively promotes professional growth through
challenging tasks and projects. Employees are encouraged to take on roles that expand their
skills, providing opportunities to apply their abilities in real-world scenarios. This approach
not only facilitates skill development but also fosters a sense of ownership and responsibility
among employees.
Mentorship programs further enhance employee development by providing guidance and
support from experienced professionals within the organization. This transfer of knowledge
not only accelerates the learning curve for newer employees but also contributes to a culture
of collaboration and knowledge-sharing.

Employee well-being is an integral part of APL's organizational ethos. The company

recognizes that a healthy and happy workforce is more productive and committed. To support
this, APL has implemented various well-being initiatives.
Health and wellness programs involve holistic well-being solutions. Regular health check-
ups, fitness classes, and wellness workshops contribute to the physical health of employees.
APL acknowledges the importance of preventive measures, aiming not only to address
health issues but also to promote a culture of well-being.
The company is aware of the importance of balancing work and life. Flexible work
arrangements, remote work options, and policies supporting time off contribute to creating an
environment where employees can manage their professional responsibilities while
maintaining a satisfying personal life. APL recognizes that a balanced life is crucial for long-
term employee satisfaction and retention.
 Mental health is another aspect of well-being that APL addresses proactively. The company
provides access to counseling services, employee assistance programs, and awareness
campaigns to reduce the stigma surrounding mental health issues. By promoting open
dialogue, APL aims to create an environment where employees feel supported in managing
their mental well-being.

Employee Engagement and Recognition:

APL places a strong emphasis on employee engagement and recognition,

understanding that a motivated workforce is more likely to contribute positively to the
organization. Regular communication channels, team-building activities, and social events
create a sense of camaraderie among employees.
The company actively seeks employee feedback, valuing the input of its workforce in
decision-making processes. This not only enhances transparency but also makes employees
feel heard and appreciated. Recognition programs, including awards and acknowledgments,
further contribute to a positive work culture by celebrating individual and team
achievements.
Agung Podomoro Land's commitment to employee development and well-being is multi-
faceted, encompassing professional growth, holistic well-being, and a culture of
engagement and recognition. By investing in these areas, APL ensures not only the
individual success and satisfaction of its employees but also shapes an organization that is
resilient and forward-thinking. The company's approach positions it as a leader not only in
real estate development but also in creating a workplace that prioritizes the holistic
development and well-being of its most valuable asset – its people.

Corporate social responsibility

Social responsibility or corporate social responsibility (CSR) is a concept that organizations,
especially companies, have a responsibility towards consumers, employees, shareholders,
communities and the environment in all aspects of company operations such as regarding
problems that impact the environment such as pollution, waste, product and labor safety. CSR
is an important aspect in company sustainability. This is because companies that are profitable
in the long term are companies that operate with sustainable principles.

Agung Podomoro through CSR programs, the Company maintains a harmonious relationship
with all stakeholders and actively contributes to efforts to empower and improve the welfare of
the society and the environment.
As a developer of vertical housing and modern living environment, the Company is committed
to maintain and improve environmental quality in each of its projects so as to create healthy and
comfortable environment not only for the residents and customers of the Company, but also for
the people of the surrounding communities.

The Company is aware that the success of its business does not only depend on operational and
financial factors but also a harmonious relationship with all stakeholders involved in the
Company’s operations. The Company actively contributes to the efforts to empower and
improve the welfare of the communities and the environment through Corporate Social
Responsibility (CSR) activities.
The Company’s CSR programs are coordinated through Agung Podomoro Land Foundation
(“YAPL”), and are professionally managed in terms of planning, implementation, monitoring
and evaluation. Therefore, CSR programs are able to have a sustainable positive impact on the
beneficiaries. In its implementation, YAPL works together with the Company’s entities and
external social organizations that have a good reputation and credibility.
For example, as quoted in OpinionNews. com “The Agung Podomoro Land (APL) National
Housing Development Company provided funds of IDR 300 million for the development and
temporary waste storage site (TPS).
These funds were provided as part of Podomoro Park's Corporate Social Responsibility (CSR)
program for villages located around the Podomoro Park Bandung area.
Through the Agung Podomoro Land Foundation (YAPL), Podomoro Park is gradually
providing funds totaling IDR 300 million to two villages in South Bandung.
With this TPS, it means that Agung Podomoro Land has provided a solution to overcome the
waste problem and assisted the Bandung Regency government program in dealing with the
problem of household waste that is not picked up by the waste fleet.
And for another example, we can see as quoted in beritasatu.com collaboration with PT Prima
Buana Internusa (PBI) as the manager of apartment units under APLN, green waste has been
implemented in Podomoro City, Kalibata City, Sudirman Park, CBD Pluit and Gading Nias
Residences

The Agung Podomoro Land Foundation (YAPL), as the implementer of CSR activities, realizes
that living in vertical housing and superblocks is still a relatively new culture in Jakarta.
Therefore, YAPL started a green waste effort by inviting apartment residents about the need to
change their habits in treating waste, including by sorting and packaging the waste before
throwing it away. In this program, YAPL synergizes with cleaning service workers, scavengers
garbage and also used goods collectors in garbage
Innovation And Adaptabilty
In terms of innovation, APL refers to forward-looking innovation in its project development.
One noticeable aspect is the utilization of smart technology in its development. APL has
embraced the concept of smart cities, integrating cutting-edge technology to enhance the
quality of life for residents. This includes the implementation of IoT (Internet of Things)
devices for energy management, smart home solutions, and advanced security systems. Such
innovations not only align
with global sustainability goals but also cater to the modern lifestyle preferences of urban
dwellers.

Furthermore, APL has been strategic in adopting architectural and design innovations. The
company collaborates with renowned architects and designers to create iconic structures that
stand out in the urban landscape. The emphasis on aesthetics and functionality reflects a
commitment to providing a unique and enjoyable living experience. By leveraging innovative
design concepts, APL not only differentiates itself in a competitive market but also
contributes to the cultural and architectural diversity of the cities in which it operates.
APL's resilience in facing market dynamics and economic conditions is another key strength.
The property market is inherently cyclical, and APL has shown resilience by adjusting its
strategies to align with prevailing trends. During periods of economic growth, APL has
focused on high-end luxury developments, catering to the demand for premium real estate. In
contrast, during economic downturns, the company has demonstrated flexibility by
diversifying its portfolio to include more affordable housing options, tapping into a broader
market segment.

Moreover, APL has successfully adapted to changing market needs by exploring new formats
and mixed-use developments. The integration of residential, commercial, and recreational
spaces in a single project is evidence of the company's ability to create holistic environments
that cater to diverse lifestyle preferences. This adaptability not only enhances the market
appeal of APL's projects but also contributes to the overall urban planning and development
of the areas in which they operate.

In terms of technological innovation, APL has embraced digital platforms to streamline

processes and enhance customer experiences. The use of virtual reality (VR) and augmented
reality (AR) in property presentations allows potential buyers to experience the spaces
virtually, providing a more immersive and convenient way of exploring properties.
Additionally, APL has invested in advanced project
management tools, improving efficiency in construction timelines and overall project
delivery.

The success of Agung Podomoro Land in the real estate sector can be attributed to its
innovative spirit and adaptability. The company's commitment to smart and sustainable
technologies, coupled with a strong focus on architectural excellence, positions it as a
trailblazer in the industry. APL's ability to adapt to market fluctuations and changing
consumer preferences underscores its strategic approach to real estate development. As the
urban landscape continues to evolve, APL is likely to remain a key player, shaping the future
of Indonesia's real estate sector through its continued commitment to innovation and
adaptability.
Financial Performance
Revenue Source and Diversification: Sales of real estate, rentals, and development projects are
APL's primary sources of revenue. A foundation of balanced income can be achieved by
portfolio diversity, which includes residential, commercial, and mixed- use construction.
Margin and Profitability: Profitability shows how well APL turns revenue into earnings. A
strong net profit margin is a sign of efficient operations and cost control.
Debt Management and Financial Leverage: APL frequently finances initiatives with debt,
and sound debt management is essential to long-term financial health.
Maintaining a proper ratio of debt to equity can shield the business from adverse financial
conditions.
Market Conditions and Economic Influence: Interest rates and economic growth are two
examples of the economic factors that affect APL. The resilience and strategic planning of
the organization are enhanced by its adeptness in navigating economic cycles.
Cash Flow and Liquidity: To evaluate APL's liquidity and its capacity to satisfy short- term
obligations, cash flow analysis is essential. It's critical to keep a good cash reserve on hand to
handle unforeseen economic events.
Sustainability and ESG Factors: APL's financial success may be impacted by its dedication
to ethical and sustainable development. Employing sustainable practices can help a business
attract investors who care about social and environmental issues as well as improve its
reputation.

Brief Financial Analysis: With a varied portfolio that includes residential, commercial, and
mixed-use development, APL has effectively diversified its sources of income.
This contributes to building a foundation of steady and evenly dispersed revenue.
With a strong net profit margin, APL exhibits sound financial standing in terms of
profitability. Good cost control and efficient operations have a favorable impact on the
financial performance of the business.
APL's debt management demonstrates a prudent debt-to-equity ratio. This enables the
business to manage financial risks at reasonable levels and maximize profits for shareholders.
APL's ability to adapt to shifting economic cycles is a clear indication of the market
conditions and economic effect. The company's resilience in the face of economic problems
is bolstered by prudent financial practices and flexible initiatives.
APL exhibits strong financial standing with positive operating cash flow in terms of cash
flow and liquidity. This illustrates how profitable the business can make its main business
operations.
Not only is APL's dedication to sustainability and ESG factors on the rise, but it can also
positively impact the company's reputation and appeal to investors who are becoming more
conscious of the effects on society and the environment.
Agung Podomoro Land has been able to sustain a steady and strong financial performance by
managing costs, diversifying its income, and adapting to shifting market conditions. The
business is establishing the foundation for future sustainable growth by continuing to show
its dedication to sustainable practices.