Financial Performance Review
The financial performance review contained in this Report is based on the financial statements of PHE as Subholding Upstream for the fiscal year ending 31 December 2021, and has been audited by the Purwantono, Sungkoro & Surja Public Accounting Firm, and signed by Irwan Haswir on 21 March 2021, with Unqualified Opinion.
The description of PHE's financial performance in this report is prepared based on the Financial Statements, which are presented in accordance with the Statement of Financial Accounting Standards (PSAK) generally accepted in Indonesia. The Financial Statements cover the last three financial years, namely the financial year ending on 31 December 2021. As a comparison, the Financial Statements for the financial year ending on 31 December 2020 and 1 January 2020 are restated for the change in the governance structure from PHE to PHE Subholding Upstream in accordance with PSAK 38 (Revised 2012). The discussion of financial performance is conveyed by taking into account the explanations in the notes to the Financial Statements, as an integral part of this Annual Report
