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Company Overview

PT Indal Aluminum Industry Tbk (Company) was established in 1971, based on the Founding Deed No.62 dated 16 July 1971 of Djoko Supadmo, S.H. which was amended by Deed No.2 dated 1 November 1973 of Eliza Pondaag, S.H. and amended again by adjusting the Articles of Association of the Company with the Law on Limited Liability Company No.40 of 2007 Deed No.13 dated 14 July 2008 from Dyah Ambarwaty Setyoso, SH, which was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decree No.AHU-91352.AH.01.02 dated 28 November 2008. Accompanied by changes to the Deed no 176 dated 30 June 2015 from Bambang Heru Djuwito, SH, MH. as in the letter of the Director General of General Legal Administration No.AHU-AH.01.03-0953380 and No.AHU-AH-01.03-0953381 both dated 30 July 2015 and announced in the State Gazette of the Republic of Indonesia on 27 November 2015 No.95 Supplement No.1102/L. The latest amendment to Deed No.93 dated 20 June 2017 from Sitaresmi Puspadewi Subianto, SH as in the letter of the Director General of General Law Administration number AHU-AH.01.03-0153357. Since 1994, the Company has become a public company and is still listed on the Indonesia Stock Exchange.


To be the market leader in the Aluminum Extrusion and Fabrication industry in Asia.


Providing the best service to customers with innovation, continuous improvement in productivity and efficiency.

Company Business Activities

The Articles of Association state that the Company is a company engaged in aluminum processing, and currently the Company has transformed into a leading aluminum extrusion producer in Indonesia, and has even gained recognition in the international market. Production activities The Company is managing raw materials of aluminum ingots (or billets) into aluminum extrusion profiles which are widely used in the construction industry, household appliances, electronic/ automotive components, aluminum ladders and so on.

Board of Directors

Alim Markus

Presiden Director

Indonesian citizen, 67 years old, serves as president director with the task of leading the implementation of the management of the Company and being the coordinator of all other members of the Board of Directors. Appointed as management of the Company at the AGM on 20 June 2017 with a term of office until the end of the 2020 AGM. He is one of the founders of the Company and has joined Maspion Group throughout his career. He currently holds various management positions in the Maspion business group and serves as Chair of the Indonesia China Business Council (ICBC) and serves as Chair of the Asosiasi Pengusaha Indonesia (Apindo) in East Java, and other organizational positions. During the 2018 financial year there have been various educational or training seminars 
related to prospects and strategies in the business world. He has affiliation with members of the Board of Commissioners (Gunardi), the Board of Directors (Alim Mulia Sastra and Alim Prakasa) and the major shareholder companies.

Alim Mulia Sastra


An Indonesian citizen, 65 years old, serves as managing director with the task of controlling the Company's costs and expenses. Completed business studies in Singapore in 1974 and began his career in the Maspion Group in 1975.
Appointed as management of the Company at the AGM 20 June 2017 with a term of office until the end of the 2020
AGM, and previously served as Commissioner of the Company. Currently he also occupies various positions in the Maspion Group. During the 2018 financial year following several trainings related to operational control of production. He has an affiliate relationship with members of the Board of Commissioners (Gunardi), the Board of Directors (Alim Markus and Alim Prakasa) and the major shareholder companies.

Alim Prakasa


An Indonesian citizen, 61 years old, serves as the executive managing director with the task of carrying out all of the Company's operational activities. Completed studies at St. Mary's University, Canada. Since 1981, he has joined the Maspion Group. Appointed as management of the Company at the AGM on 20 June 2017 with a term of office until the end of the 2020 AGM. In addition, he also held various strategic positions in the Maspion Group. During the 2018 financial year participating in various seminars and exhibitions related to products and production processes. He has an affiliate relationship with members of the Board of Commissioners (Gunardi), the Board of Directors (Alim Markus and Alim Mulia Sastra) and the major shareholder companies.

Wibowo Suryadinata


An Indonesian citizen, age 57, serves as a director with the task of managing the Company's financial management. Appointed as management of the Company at the AGM 29 June 2018 with 
a term of office until the end of the 2021 AGM. Completed postgraduate education at the Indonesian Institute of 
Management Development. Prior to this, he had worked in the banking sector for 22 years at various national and  foreign banks with his last position as Vice President and a six-year career at a non-bank company. Started his career in the Maspion Group since 2013. During the 2018 financial year he participated in training and seminars related to financial, banking and capital market strategies organized by private banks, Bank Indonesia and the Otoritas Jasa Keuangan (OJK). He has no affiliation with members of the Board of Commissioners or the Board of Directors and the major shareholders.

Cahyadi Salim


An Indonesian citizen, 50 years old, serves as a director with the task of supporting the executive managing director in managing the Company's operational activities. Appointed as management of the Company at the AGM on 20 June 2017 with a term of office until the end of the 2020 AGM. Completed post-graduate education in the field of strategy management. He has joined the Maspion Group since 1994. Currently also serves as a Director at PT Indalex (a subsidiary of the Company). During the 2018 financial year, training was conducted in relation to machinery facilities and product quality. He has no affiliation with members of the Board of Commissioners or the Board of Directors and major shareholders

Board of Commisssoners

Welly Muliawan

President Commissioner

An Indonesian citizen, 58 years old, serves as president commissioner with the task of leading the supervision of all the management of the Company and being the coordinator of all other commissioners. Appointed as management of the Company at the AGM on 29 June 2018 with a term of office until the end of the 2021 AGM. Complete the MBA study program at the National University of Singapore. Starting his career in the Maspion Group since 1982. He has no affiliation with members of the Board of Commissioners or the Board of Directors and major shareholders.

Gunardi Go


An Indonesian citizen, 94 years old, serving as a commissioner with the task of supporting the president commissioner overseeing the Board of Directors in carrying out the management of the Company. Appointed as management of the Company at the AGM on 20 June 2017 with a term of office until the end of the 2020 AGM. He has joined the Maspion Group since 1965. Currently also occupies various management positions in the Maspion business group mainly in the aluminum kitchen equipment division. During 2018 no formal education or training was followed. He has an affiliate relationship with members of the Board of Directors (Alim Markus, Alim Mulia Sastra and Alim Prakasa) and major shareholder companies

Supranoto Dipokusumo

Independent Commissioner

An Indonesian citizen, 59 years old, serves as a commissioner with the main task of the internal audit function. Appointed as management of the Company at the AGM on 20 June 2017 with a term of office until the end of the 2020 AGM. Complete the MBA study program at the University of Toledo, USA. He has joined the Company since 2001. During the 2018 fiscal year he participated in audit management training. He has no affiliation with members of the Board of Commissioners or the Board of Directors and major shareholders.

Audite Commitee

The Audit Committee has the duty and responsibility of assisting the Board of Commissioners in carrying out their duties related to the duties of the commissioner, namely providing input on matters that need attention from the board of commissioners, conducting financial statement checks, internal control management, and ensuring that governance runs with well. In connection with the resignation of Mr.Lim, Budiprajogo Limanto as Independent Commissioner of the Company at the SGM in 2018, then on 13 July 2018 the Board of Commissioners made a letter of appointment of the Audit Committee for a term starting 13 July 2018 until 30 June 2020, or up to date there is a change or appointment of a new Board of Commissioners through the Company's SGM, whichever comes first. So that the composition of the Audit Committee is as follows : 

  1. Drs.Supranoto Dipokusumo (Chairman)
    Indonesian citizen, 59 years old, concurrently as an Independent Commissioner of the Company. Complete the MBA study program at the University of Toledo, USA. Has joined the Company since 2001.
  2. Heri Kustiyono Rudiantoro (Member)
    Indonesian citizen, 60 years old, completed his Economics studies majoring in Accounting at Universitas Narotama, Surabaya and had a career in the Public Accounting Office for 17 years.
  3. Bambang Njoto Prajitno (Member)
    Indonesian citizen, 52 years old, completed his Economics studies majoring in Accounting at Universitas Brawijaya, Surabaya, having a career in finance for 27 years
Independence of the Audit Committee

All members of the Company's Audit Committee are independent parties that allow the Company to obtain objective assessments in terms of audits. In 2018 there is one member of the Audit Committee who is also an Independent Commissioner of the Company.

Audit Committee Meeting

The Audit Committee meets 4 times a year and has been held in 2018 with an average attendance rate of 100% for each member.

Audit Committee Training

Training or seminars attended by members of the Audit Committee in 2018 are :

  • March 2018, Detect The Indications of Fraud and Error Through Review of Financial Statements, IAPI organizers
  • July 2018, Emerging Risk in Digital Banking, organizer of the Maspion Bank Surabaya
  • September 2018, Forensic Audit, organizer of the Maspion Bank Surabaya
  • October 2018, Accounting, Tax and Governance Update, organizer of the PWC
Brief description of Audit Committee Activities and Reports

The Audit Committee conducts its activities in accordance with the annual work plan agreed upon previously. In fulfilling its roles and responsibilities, the Audit Committee has examined a number of reports and documents and carried out routine meetings and discussions. Reports examined by the Audit Committee include internal and external audit reports. Meetings with Internal Audit are held to discuss internal audit reports and various audit findings and assess the effectiveness of the Company's internal controls.

Corporate Secretary

The Corporate Secretary is held by Ariawan Wiradinata, based on a letter of appointment by the Company's Board of Directors since 2006. Based in Surabaya, East Java and joining the Maspion Business Group since 1995. He completed his Masters degree in Financial Management from the Universitas 17 Agustus 1945 in Surabaya. The Main Task of the Corporate Secretary is as a liaison between the Company and other parties outside the company such as shareholders, capital market and public institutions / authorities regarding the company's business performance. As well as assisting the Board of Directors in ensuring the Company's compliance with capital market regulations and policies and ensuring that the Directors obtain information on capital market regulations and their implications. The training or outreach that was followed during 2018 included:

  1. Discussion on 2018 Indonesian Economy held by Bank Indonesia.
  2. Dissemination of OJK Regulations and Regulation of the Minister of Finance of the Republic of Indonesia.
  3. Workshop on Corporate Secretary Training, Capital Market Deepening, Communication Function and Corporate Governance.

Implementation of duties during 2018 includes:

  1. Assist the Board of Directors and the Board of Commissioners in implementing corporate governance,  especially those relating to public information disclosure, including the availability of information on the Company's web as well as timely reporting to the Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX).
  2. Conducting the preparation of the 2017 Annual Report book.
  3. Organizing the Annual SGM on 29 June 2018 at the Surabaya Fave Hotel. 
  4. Organizing public exposure and press conference on 29 June 2018. 
  5. Coordinating other activities related to the duties of the Corporate Secretary.




The ethical code or internal code of conduct serves as a tangible form of corporate culture so that companies act ethically and in accordance with applicable laws apply when the daily operational activities runs wherever and whenever. This code explains the standards that need to be adhered to in carrying out company values, as well as certain relevant laws, regulations and policies. All permanent employees or contract employees have an obligation to follow the code of conduct and comply with all company policies and procedures. The code of conduct also applies to the Board of Commissioners and Board of Directors in connection with all activities on behalf of the company. By knowing and complying with the code of conduct, the Company play a role in maintaining and subsequently building trust with various stakeholders, including colleagues, customers, business partners, 
shareholders and the community. The code of conduct encourages employees to :
1.   Increase accountability , transparency and compliance with applicable laws and regulations.
2.   Perform tasks with a high level of professionalism and integrity.
3.   Avoid activities that can create a conflict of interest with his work
4.   Protect the Company’s information, both during work and after no longer working in the Company. 

The code of conduct is routinely socialized throughout all parts of the Company, and all new employees will work to sign this code of conduct. Every level of the organization (including the Board of Commissioners and Directors) understands that if violation occurs, the Company will take disciplinary action including termination of employment. In addition, the code of conduct is also regularly reviewed and updated to ensure its alignment with the aim of supporting the good corporate governance.

In accordance with the Articles of Association, the honorarium of the Board of Directors and Board of Commissioners is determined at the Annual SGM. Furthermore, the SGM authorizes the Board of Commissioners to determine the amount and distribution of the honorarium among members of the Board of Directors and Board of Commissioners. The amount of remuneration for each member is determined according to the function and competencies of each member through indicators of remuneration determination. The total remuneration received by the Board of Directors and Board of Commissioners each are Rp.4,135,000,000 and Rp.1,369,641,000 for 2018.

Every potential risk possessed by the Company is the responsibility of the Board of Directors to identify and ensure that each of these risks can be dealt with effectively. With assistance from Internal Audit, the Board of Directors evaluates and updates risk maps in every aspect of business activities. Although facing various risks that must always be faced, the Company pays special attention to several risks, including:

Business Risk. In order to fulfill consumer demand, which requires management to pay special attention to the production and packaging of products 
for export, during 2018 the Company procured many new machines that could help support the production process in terms of speed, accuracy of delivery and fulfillment of output accordingly with installed capacity. In addition to maintaining product quality to arrive at customers well, a good packaging process is needed. To support this, the Company has made improvements in this process, by purchasing a packaging machine with a capacity of 2000 units/hour. 

Financial Risk. The company has debts in several banks, both in the form of investment loans or working capital loans and also Letter of Credit (L/C) for the purchase of imported raw materials in different currencies. In 2018 there are fluctuations in the exchange rate of the Rupiah against foreign currencies, which are at risk in the foreign differential cost of the interest and loans of the company. Therefore, the Company seeks to minimize exposure to foreign exchange differences by conducting Trust Receipt (TR) using the value of Rupiah on import L/C.

Raw Material Supply Risk. To fulfill the availability of raw materials on time before being used for the production process, the Company does not depend on only one supplier. Fostering good relationship accompanied by communication and coordination that is synergy from both parties, is able to minimize errors and delays in the supply of these raw materials.

The Whistle Blowing System (WBS) is prepared as a reference in the procedures for managing complaints handling or disclosure of violations for the Board of Commissioners, the Board of Directors, employees and other parties interested in dealing with the Company, so that each report submitted is kept confidential and accountable for follow up. The application of the WBS is expected to be able to overcome the limitations of the internal control system, be able to provide guarantees and conduct early detection of violations that may occur within the Company. 
Two ways to submit reports of violations are direct and indirect. Directly can be done by reporting to Personnel, Security, Supervisor or Plant Manager. Or Indirectly use a suggestion box or other means of communication such as telephone, mobile phone and company email. The Company guarantees security of reporters. Every report or disclosure of the report is carried out by a team of WBS administrators formed by the Board of Directors to conduct audits, recording and corrective actions and imposing sanctions on the reporter. In 2018 there were no complaints or reports that were entered and handled by the Company.

Corporate Social Responsibility (CSR) is a business approach by contributing to sustainable development by providing economic, social and environmental benefits to all stakeholders. Social responsibility is a business commitment to act ethically, operate legally and contribute to improving the quality of life for employees and society. The Company is committed to implementing good CSR with various programs it has.  

Living Environment.
The use of natural gas that is more environmentally friendly for smelting and heating production processes with the impact of lower pollution levels.  
The Company gets a “blue rating” for the assessment of waste management correctly, in accordance with the provisions and quality standards required under the laws of the Ministry of Environment and Forestry.  

In 2018, the Company signed a Collective Labor Agreement between the Directors and the SPSI Work Unit Management to strengthen the relationship between the Company and employees. The Company ensures that the health of all employees, partners and their children is included in the Indonesian government’s health program through the Social Security Organizing Agency. The Company ensures a workplace that is free from work accidents. Therefore, the Company prioritizes work safety for all employees by requiring the use of protective equipment while working and always complying with the work safety regulations of the Company to minimize workplace accidents that can occur. 

Social and Community
Holding a social service program for contract surgery and mass circumcision, in collaboration with one of the social foundation in Surabaya. Providing products donations for the renovation of one of the public service facility buildings in Surabaya. Mobilize employees to participate in providing assistance to earthquake victims in Lombok. Holding a routine blood donor, so that it was awarded as one of the voluntary blood donor driving companies. Facilitate free of charges homecoming for employees and family members on Idul Fitri moment. 

Product Responsibility
The Company has a responsibility that the products produced are in accordance with industry standards and specifications of consumers that do not adversely affect safety and health and have added value to consumers. The Company always provides services and cooperates with distributors for local products in handling complaints and claims from consumers.

Registered Public Accountant

Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan

Jl. Ngagel Jaya 90, Surabaya – 60283
Tel : (62-31)5012161
Fax : (62-31) 5012335

Share Registrar

PT Adimitra Jasa Korpora

Kirana Boutique Office
Jl. Kirana Avenue 3 Blok F3 No.5
Kelapa Gading, Jakarta Utara – 14250
Tel : (62-21) 29745222
Fax : (62-21) 29289961

Next on 29 January 1996, 1: 2 shares were split from a total of 44,000,000 shares to 88,000,000 shares listed on the Indonesia Stock Exchange. From the initial nominal value Rp.1,000 per share divided into Rp.500. Continued distribution of bonus shares on 26 February 1996 totaling 70,400,000 shares so that the total shares listed on the IDX up to the end of 2013 were 158,400,000 shares.

In 2014, INAI took a corporate action in the form of a stock split from Rp.500 per share divided into Rp.250 per share. Effective 12 February 2014 the total shares of the Company were 316,800,000 shares which are also listed on the Indonesia Stock Exchange.

The latest is the stock split which is effective in the stock exchange on 26 October 2017 with a ratio of 1:2, so that the previous nominal value of the shares is Rp.250 per share to Rp.125 per share, and the last position of the Company's shares is 633,600,000 shares.

Capital Market Supporting Institutions and/or Professionals

  1. Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan &Partners as Independent Auditors of INAI's Financial Statements, with a fee of around Rp.210,000,000 for assigning General Audit to Financial Statements as of 31 December 2018.

  2. PT Adimitra Jasa Korpora as securities administration bureau supporting INAI with a fee of around Rp.20,000,000 for the assignment period 1 January - 31December 2018.

Award / reputation obtained by PT Indal Aluminum Industry Tbk in 2018

BLUE rating of companies' assessment of environmental management from the Ministry of Environment and Forestry (2017-2018).

Received ISO 9001: 2015 Certificate of Approval from PT Lloyd’s Register Indonesia for the validity period of 21 September 2018 to 6 December 2019.

Received the determination of the decision of the Director General of Customs and Excise for recognition as a Certified Economic Operator (Authorized Economic Operator) with a validity period from 18 December 2018 to 17 December 2023.

Received an award from the Infobank finance media “100 Fastest Growing Companies Awards”.

Received the stipulation of the decision of the Minister of Finance as a Bonded Logistics Center in term of granting the license for the organizer of the Bonded Logistics Center as well as the Bonded Logistics Center business operating license.

Received the 2019 Palamarta Silver award from the Sidoarjo Intermediate Tax Office to PT Indalex (aconsolidated subsidiary) as a Taxpayer who has well contributed to the achievement of the 2018 state revenue target.

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