Page 31 - AR BRIDS 2020 - 1204 - FULL
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Management
                                                                                            Report

                                                      LAPORAN DIREKSI
                                                 REPORT OF THE BOARD OF DIRECTORS






            Pemegang Saham dan Pemangku Kepentingan yang kami hormati,
            Dear respected Shareholders and Stakeholders,

            Atas nama Direksi perkenankan saya menyampaikan laporan   On behalf of the Board of Directors please allow me to submit the
            tahunan  bersama dengan laporan keuangan BRIDS.   2020 annual report together with the financial statements of BRIDS.

            Secara umum, kinerja BRIDS di tahun 2020 masih kurang   In general, BRIDS performance in 2020 is still less encouraging. The
            menggembirakan. Pandemi Covid-19 yang terjadi sangat cepat   Covid-19 pandemic which occurred highly quickly and massively
            dan masif memberi dampak ke seluruh sektor maupun proses   had the impacts on all sectors and business processes, so it
            bisnis, sehingga tidak dapat dipungkiri bahwa dampak tersebut   cannot be denied that these impacts were also felt by BRIDS It can
            juga dirasakan oleh BRIDS.  Hal itu terlihat dari penurunan nilai   be seen from the decline in the value of institutional customer
            transaksi perantara perdagangan nasabah institusi, rendahnya   trading intermediary transactions, low demand for investors in
            demand investor di pasar perdana, penundaan transaksi   the primary market, delays in underwriting transactions and
            underwriting dan penurunan pembiayaan  margin terkait   decrease in margin financing related to increased market risk.
            peningkatan risiko pasar.

            Meski demikian, kami melihat beberapa hal positif yang justru   However, we consider that there are still a number of positives
            menjadi  opportunities yang baik bagi BRIDS. Peluang-peluang   that provide good opportunities for BRIDS. These opportunities
            tersebut  adalah peningkatan aktivitas  nasabah  ritel di  pasar   include the increase in retail customer activity in the secondary
            sekunder, tingginya minat nasabah terhadap obligasi Pemerintah   market, high customer interest in Government bonds as the
            sebagai instrumen safe haven di tengah ketidakpastian, dan juga   safe haven instrument amid the uncertainty, and also demand
            adanya permintaan terkait jasa penasihat keuangan terutama   for  financial  advisory  services,  particularly  in  relation  to
            terkait restrukturisasi.                          restructuring.


            Ekonomi dan Industri Pasar Modal Indonesia di 2020  Indonesian Economy and Capital Market Industry in 2020
            Krisis pandemi Covid-19 sangat berbeda dibandingkan dengan   The Covid-19 pandemic crisis is highly different from several
            beberapa krisis sebelumnya. Jika sebelumnya krisis dimulai dari   previous  crises.  Previously,  the  crisis  started  in  the  financial
            sektor  finansial,  seperti  perbankan,  dan  kemudian  berlanjut   sector, such as banking, and then continued into the real sector,
            menuju sektor riil, namun krisis tahun 2020 justru berawal dari   but the 2020 crisis started in the health sector and impacted
            sektor kesehatan berdampak pada sektor riil yang mengalami   to the real sector, which was under pressure along with the
            tekanan seiring dengan penerapan kebijakan Pembatasan Sosial   implementation of the Large-Scale Social Restriction (PSBB)
            Berskala Besar (PSBB) yang terjadi di seluruh daerah di Indonesia.   policy that occurred in all Indonesia regions.


            Kebijakan PSBB tersebut berimbas pada meningkatnya tekanan   The Large-scale Social Restrictions policy resulted in the
            terhadap  perekonomian  Indonesia  secara  signifikan.  Badan   significant  increase  in  pressure  on  the  Indonesian  economy.
            Pusat Statistik (BPS) Indonesia mencatat pertumbuhan ekonomi   The Indonesian Central Statistics Agency (BPS) recorded that
            Indonesia di tahun 2020 mengalami kontraksi sebesar 2,07%   Indonesia’s economic growth in 2020 contracted by 2.07% year-
            secara  year-on-year atau dapat dikatakan bahwa Indonesia   on-year or it can be said that Indonesia is officially experiencing
            secara resmi mengalami resesi. Nilai tukar rupiah terhadap US$   a recession. Rupiah exchange rate against the US$ was also
            juga sempat tertekan hingga mencapai Rp16.575 per US$ pada 23   depressed to Rp16,575 per US$ on March 23, 2020, however, the
            Maret 2020, namun nilai tukar Rupiah kembali menguat signifikan   rupiah exchange rate restrengthened, reached Rp14,011 per US$
            mencapai Rp14.011 per US$ pada 30 Desember 2020 atau   on December 30, 2020 or appreciated of 15.47% since March
            terapresiasi 15,47% sejak 23 Maret 2020 hingga akhir Triwulan IV   23, 2020 until the end of QIV/2020. The inflation trend itself is
            2020. Tren inflasi sendiri berada di level yang sangat rendah, yaitu   at a very low level, which was 1.68%. The stability of the Rupiah
            1,68%. Stabilnya nilai tukar rupiah dan inflasi membuat stabilitas   exchange  rate  and  inflation  have  kept  economic  stability  well
            ekonomi masih dapat terjaga dengan baik.          maintained.
                                                                                                                  Annual Report 2020 PT BRI Danareksa Sekuritas







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