added ?The PPPK is currently working on establishing AQIs framework in consultation with all related stakeholders in Indonesia. We expect this initiative to play an important role in driving audit quality
minimum return an investor can expect on any asset is usually the same risk-free rate of return combined with a margin of return to compensate for the risk (Murphy, 1990) 3 Background(Cont.) •Cryptocurrency
bank deposit and accept lower returns than investing in a typical fixed income fund. ▪ Investors who seek high liquidity. ▪ Investors who prefer low-risk investment. Investors who expect high returns
. ▪ Investors who prefer low-risk investment. Investors who expect high returns. Low-medium risk 2 has a policy to invest, by having foreign exposure not exceeding 50% of NAV, in bank deposit, high-quality money
collection and there is a fully amortized bad debt portfolio increase. JAS Asset JAS Asset is expected to transfer property for sale, a condominium, in 2019 and expect to completely transfer in 2020. J
enhancements benefitting both the top and bottom line as we expect 2020 to be a more successful year” 2. Outlook Economic growth was approximately 1.6% in Q4 2019 compared to the same period last year with
Water sales volume increased by 6.0% YoY mainly from COD of Gulf VTP Power Plant in May 2017. 3 c. 3 additional SPPs currently under construction are scheduled to achieve COD in 2017. We expect the
quarter of 2020. Considering the Company’s separate financial statement, the operating and administrative expenses as a percentage of total revenues was down to 35% in the first quarter of 2020. - Expect
were also higher, but these are investments into the future competitiveness of the company. On the upside we expect to see some of the variable cost pressure, notably fuel, to ease in the following
relating to employee incentives. On the upside, the maintenance, which would have occurred later in the year, is now complete so we do not expect major maintenance activity in H2 and have the ability to run