Extractive Sector: Payments to Govts Report 2025

Jardine Matheson Hldgs Ltd

30 June 2026

 

Jardine Matheson Holdings Limited
Extractive Sector: Payments to Government Report 2025 (the "Government Report")


Introduction

Background
The United Kingdom ("UK") Reports on Payments to Governments Regulations 2014 (the "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. The 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 made to governments.

The UK's Disclosure Guidance and Transparency Rules extend the disclosure requirements to companies with securities listed on a UK regulated market, including Jardine Matheson Holdings Limited, of which PT United Tractors Tbk and its subsidiaries are part, as direct and indirect subsidiaries of PT Astra International Tbk (hereinafter referred to as "Astra").

Reporting Entities
This report provides an overview of the payments to governments made by PT United Tractors Tbk and its subsidiary undertakings, particularly PT Pamapersada Nusantara and PT Danusa Tambang Nusantara and their subsidiaries (hereinafter referred to as "UT"), for the year ended 31 December 2025 (covering the period 1 January - 31 December 2025), in respect of their extractive activities located in Indonesia.

Extractive Activities
UT, through its subsidiaries, is engaged in extractive operations as coal, nickel and gold mining concession holders in several locations in Indonesia (North Sumatra, Central Kalimantan, South Kalimantan, West Nusa Tenggara, Central Sulawesi and South East Sulawesi). PT Pamapersada Nusantara (a subsidiary of UT) and its subsidiaries are also involved in mining contracting activities for third parties in South Sumatra, East Kalimantan, South Kalimantan, Central Kalimantan, North Kalimantan, Central Sulawesi, South East Sulawesi and West Nusa Tenggara.

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. state-owned entity) 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, license, 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, licenses, 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 Governments other than in USD are translated based on foreign exchange rates determined by PwC HK, which is engaged with Jardine Matheson Holdings Limited.

Materiality
Payments made as a single payment, or as a series of related payments, that equal or exceed USD115,778 (equivalent to GBP86,000) during the year, are required to be disclosed.

Payment
All payments in 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 the mining sector. Value added taxes, personal income taxes, sales (export) taxes, land and building tax for the 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 the sales amount.

iii.    Fees

These payments are typically levied on the right to use a geographical area for exploration, development and production.

There were no payments to governments for bonuses, production entitlements and infrastructure improvements.


Consolidated Overview
The consolidated overview discloses the sum of Astra's payments to the Government of Indonesia which are presented in Government Report and Project Report.

Government Report
The following table discloses the sum of Astra's payments per payment type to the State Treasury (Kas Negara).

(in USD)

	Taxes	Royalties	Fees	Total USD
State Treasury (Kas Negara)	452,015,168	268,389,475	7,687,811	728,092,454

Project Report
The table below discloses the sum of Astra's payments per project and per payment type.

(in USD)

	Taxes	Royalties	Fees	Total USD	Governments
Project
Stargate, South Sulawesi Project	1,260,412	5,861,644	-	7,122,056	State Treasury (Kas Negara)
Martabe, North Sumatera Project	81,148,492	95,169,720	1,094,732	177,412,944	State Treasury (Kas Negara)
Kapuas, Central Kalimantan Project	108,145,986	160,064,221	6,180,774	274,390,981	State Treasury (Kas Negara)
North Barito, Central Kalimantan Project	-	-	231,706	231,706	State Treasury (Kas Negara)
Banjar, South Kalimantan Project	417,860	-	-	417,860	State Treasury (Kas Negara)
Sumbawa Project	22,178	7,293,890	180,599	7,496,667	State Treasury (Kas Negara)
Mining Contracting	261,020,240	-	-	261,020,240	State Treasury (Kas Negara)
Total	452,015,168	268,389,475	7,687,811	728,092,454

This Report is available for download from https://www.jardines.com/about-jardines/corporate-governance/codes-and-policies. 

Sean Ward

Company Secretary

Jardine Matheson Holdings Limited

30 June 2026

www.jardines.com

 

END