3DPLFL FDFKH
QDSRGVWDZLH
: 6WDOOLQJV
2UJDQL]DFMDLDUFKLWHNWXUDV\VWHPXNRPSXWHURZHJR
&HFK\FKDUDNWHU\VW\F]QHSDPLFL FDFKH
ORNDOL]DFMD
SRMHPQRü
MHGQRVWNDZ\PLDQ\LQIRUPDFML
PHWRGDGRVWSX
Z\GDMQRü
IL]\F]QDNRQVWUXNFMD
SDUDPHWU\
RUJDQL]DFMD
/RNDOL]DFMD
&38ZHZQWU]QD
]HZQWU]QD
-HGQRVWNDZ\PLDQ\LQIRUPDFML
ZHZQWU]QD
²
GHF\GXMHV]HURNRüV]\Q\GDQ\FK
]HZQWU]QD
²
]Z\NOHEORNGX*RZLNV]\RGVáRZD
]DOH*QLHRGORNDOL]DFML
:\GDMQR$þ
F]DVGRVWSX
²
F]DVRGSRGDQLDDGUHVXGRX]\VNDQLDLQIRUPDFML
F]DVF\NOXSDPLFL
²
F]DVRGSRF]WNXF\NOXGRVWSXGRSRF]WNX
QDVWSQHJRF\NOXGRVWSX
²
F]DVF\NOX F]DVGRVWSXF]DV³UHJHQHUDFML´
V]\ENRüWUDQVIHUX
+LHUDUFKLDSDPLFL
UHMHVWU\ZHZQWU]QH
FDFKH /
FDFKH /
SDPLüJáyZQD
FDFKH G\VNX
G\VNPDJQHW\F]Q\
RSW\F]QD
WDPDPDJQHW\F]QD
&DFKH
QLHZLHONDLORüV]\ENLHMSDPLFL
]ORNDOL]RZDQDSRPLG]\JáyZQ SDPLFL L&38
PR*HE\ü]ORNDOL]RZDQDZHZQWU]XNáDGX
SURFHVRUD
)XQNFMRQRZDQLH FDFKH ZXSURV]F]HQLX
&38Z\PDJDLQIRUPDFML]SDPLFL
VSUDZG]HQLHMHMGRVWSQRFLZ FDFKH
MHOLWDPMHVWV]\ENLRGF]\W] FDFKH
MHOLMHMWDPQLHPDRGF]\WEORNX]SDPLFLGR
FDFKH
SU]HND]DQLHLQIRUPDFML] FDFKH GR&38
FDFKH ]DZLHUDZVND(QLNLRSLVXMFHMDNLHEORNL
SDPLFL]QDMGXM VL Z FDFKH
3URMHNWRZDQLH FDFKH
UR]PLDU
IXQNFMDRGZ]RURZDQLD
DOJRU\WP]DVWSRZDQLD
PHWRG\]DSLVX
ZLHONRüEORNXZLHUV]DOLQLL
OLF]EDSDPLFL FDFKH
-DNGX0RWHMSDPLFL"
NRV]W
²
LPZLFHM FDFKH W\PGUR*HM
V]\ENRü
²
LPZLFHM FDFKH W\PV]\EFLHMDOHQLHGRNRFD
²
SU]HV]XNLZDQLH FDFKH ]DMPXMHF]DVLPZLNV]D
SDPLüW\PGáX*HM
7\SRZDRUJDQL]DFMD FDFKH
)XQNFMDRGZ]RURZDQLD
FDFKH N%
ZLHUV]OLQLD FDFKH R GáJ%
²
W]Q FDFKH ]DZLHUDN
WDNLFKOLQLL
0%JáyZQHJR5$0
ELWRZ\DGUHV
²
0
2GZ]RURZDQLHEH]SR$UHGQLH
ND*G\EORNJáyZQHMSDPLFLMHVWRGZ]RURZDQ\W\ONRZOLQL FDFKH
²
W]QEORNZ FDFKH PR*HE\üW\ONRZMHGQ\PVSHF\ILF]Q\P
PLHMVFX
DGUHVSRG]LHORQ\QDGZLHF]FL
QDMPQLHM]QDF]FHZELWyZRNUHODVáRZROXEEDMWZSDPLFL
JáyZQHM
QDMEDUG]LHM]QDF]FHVELWyZSR]RVWDáHRNUHODMHGHQ]
V
EORNyZ
ZSDPLFLJáyZQHM
SRZ\*V]HVELWyZMHVWG]LHORQ\FKQDSROHOLQLLR GáJUELWyZL
]QDF]QLNR GáJVUELWyZ06%
2GZ]RURZDQLHEH]SR$UHGQLH
VWUXNWXUDDGUHVX
]QDF]QLNVU
OLQLDU
VáRZRZ
EDGUHV
ELGHQW\ILNDWRUVáRZDEORN%
ELGHQW\ILNDWRUEORNX
²
E]QDF]QLN
²
E VORW OXEOLQLD
*DGQHEORNLZWHMVDPHMOLQLLQLHPDM LGHQW\F]Q\FK]QDF]QLNyZ
VSUDZG]DQLH]DZDUWRFL FDFKH SRSU]H]RGV]XNDQLHOLQLLLVSUDZG]HQLH
]QDF]QLND
2GZ]RURZDQLHEH]SR$UHGQLH
WDEOLFDOLQLL FDFKH
OLQLD &DFKH
QXPHU\EORNyZJáyZQHMSDPLFL
PPP«
V
P
PP«
V
P
P
PPP«
V
2GZ]RURZDQLHEH]SR$UHGQLH
RUJDQL]DFMD
2GZ]RURZDQLHEH]SR$UHGQLHSU]\NãDG
2GZ]RURZDQLHEH]SR$UHGQLH
SRGVXPRZDQLH
GáXJRüDGUHVX VZELWyZ
OLF]EDDGUHVRZDOQ\FKPRGXáyZ
VZ
VáyZOXEEDMWyZ
ZLHONRüEORNX ZLHONRüOLQLL
Z
VáyZOXEEDMWyZ
OLF]EDEORNyZZJáyZQHMSDPLFL
VZ
Z
V
OLF]EDOLQLLZ FDFKH P
U
ZLHONRü]QDF]QLNyZ V±U ELWV
2GZ]RURZDQLHEH]SR$UHGQLH
]DOHW\LZDG\
SURVWH
QLHGURJLH
VWDáDORNDFMDGODGDQHJREORNX
²
MH*HOLSURJUDPRGZRáXMHVL GRGZyFKEORNyZ
RGZ]RURZDQ\FKZWRVDPRPLHMVFH FDFKHZ\VWSXMH
GX*R FK\ELH L SU]HáDGRZD FDFKH
2GZ]RURZDQLHVNRMDU]HQLRZH
EORN]SDPLFLPR*HE\ü]DáDGRZDQ\GR
GRZROQHMORNDFMLZ FDFKH
DGUHVRGZRáDQLDGRSDPLFLMHVWWUDNWRZDQ\
MDNR]QDF]QLNLVáRZR
]QDF]QLNMHGQR]QDF]QLHLGHQW\ILNXMHEORNSDPLFL
SU]\RGZRáDQLDFK]&38]QDF]QLNND*GHMOLQLL
MHVWWHVWRZDQ\QD]JRGQRü]DGUHVHP
JHQHURZDQ\PSU]H]&38
SU]HV]XNLZDQLH FDFKH VWDMHVL NRV]WRZQLHMV]H
:SHãQLVNRMDU]HQLRZ\ FDFKH
RUJDQL]DFMD
2GZ]RURZDQLHVNRMDU]HQLRZH
SU]\NãDG
]QDF]QLN E
VáRZR
E
2GZ]RURZDQLHVNRMDU]HQLRZH
VWUXNWXUDDGUHVX
E]QDF]QLNSDPLWDQ\UD]HP]EEORNLHPGDQ\FK
SRUyZQ\ZDQLHSyO]QDF]QLNyZ]H]QDF]QLNLHP
ZHMFLRZ\PSRV]XNLZDQLH W]ZWUDILHQLD
/6%EDGUHVXRNUHODMNWyUHEVáRZRMHVWSRWU]HEQH
]ERZHJREORNXGDQ\FK
SU]\NáDG
DGUHV
]QDF]QLN
GDQH
OLQLD FDFKH
)))))&
)))))&
)))
2GZ]RURZDQLHVNRMDU]HQLRZH
SRGVXPRZDQLH
GáXJRüDGUHVX VZELWyZ
OLF]EDDGUHVRZDOQ\FKMHGQRVWHN
VZ
VáyZOXEEDMWyZ
ZLHONRüEORNX ZLHONRüOLQLL
Z
VáyZOXEEDMWyZ
OLF]EDEORNyZZSDPLFLJáyZQHM
VZ
Z
V
OLF]EDOLQLLZ FDFKH QLHRJUDQLF]RQD
ZLHONRü]QDF]QLND VELWyZ
2GZ]RURZDQLH VHNF\MQRVNRMDU]HQLRZH
FDFKH MHVWSRG]LHORQ\QDV]HUHJVHNFML
ND*GDVHNFMD]DZLHUDV]HUHJOLQLL
GDQ\EORNSDPLFLJáyZQHMMHVWRGZ]RURZDQ\GR
GRZROQHMOLQLLZGDQHMVHNFML
²
QSEORN%PR*HE\üZGRZROQHMOLQLLVHNFMLL
QSOLQLHQDVHNFM
²
GUR*QHRGZ]RURZDQLHVNRMDU]HQLRZH
²
GDQ\EORNPR*HE\üZ]OLQLLW\ONRMHGQHMVHNFML
2GZ]RURZDQLH VHNF\MQRVNRMDU]HQLRZH
SU]\NãDG
ELWRZ\QXPHUVHNFML
QXPHUEORNXZJáyZQHMSDPLFLMHVWPRGXOR
$%&«V
RGZ]RURZDQHGRWHMVDPHMVHNFML
GUR0Q\ VHNF\MQRVNRMDU]HQLRZ\ FDFKH
RUJDQL]DFMD
2GZ]RURZDQLH VHNF\MQRVNRMDU]HQLRZH
VWUXNWXUDDGUHVX
SROHVHNFMLZ\]QDF]DVHNFM FDFKH GR
SU]HMU]HQLD
SRUyZQDQLHSROD]QDF]QLNDZSRV]XNLZDQLX
WUDILHQLD
SU]\NáDG
DGUHV
]QDF]QLN
GDQH
QUVHNFML
))))&
))
)))
))&
)))
]QDF]QLNE
VHNFMDE
VáRZR
E
GUR0QH VHNF\MQRVNRMDU]HQLRZH
RGZ]RURZDQLHSU]\NãDG
2GZ]RURZDQLH VHNF\MQRVNRMDU]HQLRZH
SRGVXPRZDQLH
GáXJRüDGUHVX VZELWyZ
OLF]EDDGUHVRZDOQ\FKMHGQRVWHN
VZ
VáyZOXEEDMWyZ
UR]PLDUEORNX GáXJRüOLQLL
Z
VáyZOXEEDMWyZ
OLF]EDEORNyZZSDPLFLJáyZQHM
G
OLF]EDOLQLLZVHNFML N
OLF]EDVHNFML Y
G
OLF]EDOLQLLZ FDFKH NY N
G
GáXJRü]QDF]QLND V±GELWyZ
$OJRU\WP\]DVWSRZDQLD
RGZ]RURZDQLHEH]SR$UHGQLH
QLHPDZ\ERUX
ND*G\EORNMHVWRGZ]RURZDQ\W\ONRGRMHGQHM
OLQLL FDFKH
Z\PLDQD]DSLVXZWHMOLQLL
$OJRU\WP\]DVWSRZDQLD
VNRMDU]HQLRZHL VHNF\MQRVNRMDU]HQLRZH
V]\ENLHVSU]WRZRUHDOL]RZDQHDOJRU\WP\
QDMGDZQLHMX*\ZDQ\/58 /HDVW5HFHQWO\8VHG
QSZGUR*Q\ VHNF\MQRVNRMDU]HQLRZ\ FDFKH
²
NWyU\]EORNyZMHVW/58"
NWyU\QDMGáX*HMUH]\GXMH),)2 )LUVWLQILUVWRXW
²
]DVWSLHQLHEORNXQDMGáX*HMUH]\GXMFHJRZVHNFML
QDMU]DG]LHMX*\ZDQ\/)8 /HDVW)UHTXHQWO\8VHG
²
]DVWSLHQLHEORNXRQDMPQLHMV]HMOLF]ELHWUDILH
ORVRZ\
$OJRU\WP]DSLVX
QLHPR*QD]DVWSLüEORNXZOLQLL FDFKH SU]HG
XDNWXDOQLHQLHPEORNXZSDPLFLJáyZQHM
$OHV SUREOHP\JG\
NLONDSURFHVRUyZPDLQG\ZLGXDOQH FDFKH
,2PRJ EH]SRUHGQLR]DSLV\ZDüJáyZQ
SDPLü
=DSLVMHGQRF]HVQ\
ZULWHWKURXJK
ZV]\VWNLH]DSLV\RGE\ZDM VL MHGQRF]HQLHGR
SDPLFLJáyZQHMLGR FDFKH
NLONDSURFHVRUyZSR]RVWDáHPR*HPRQLWRURZDü
SU]HVáDQLDGRSDPLFLJáyZQHMZFHOX
]DFKRZDQLDVSyMQRFLGDQ\FKZVZRLFK
FDFKHDFK
GX*RWUDQVPLVML
VSRZROQLHQLH]DSLVyZ
=DSLVRSy.QLRQ\
ZULWHEDFN
]DSLV\W\ONRGR FDFKH
]D]QDF]HQLH]DSLVXRGSRZLHGQLPELWHPVWDWXVX
OLQLL FDFKH
SU]\XVXZDQLXEORNX]OLQLL FDFKH ]DSLVGR
SDPLFLJáyZQHMW\ONRZWHG\JG\ELWDNWXDOL]DFML
OLQLL FDFKH MHVWXVWDZLRQ\
SR]RVWDáH FDFKHHQLHV DNWXDOL]RZDQH
,2PRJ RGZRá\ZDüVL GRSDPLFLJáyZQHM
W\ONRSRSU]H] FDFKH
3HQWLXP&DFKH
±EUDNZEXGRZDQHJR FDFKH
±N% FDFKH GUR*Q\ VHNF\MQRVNRMDU]HQLRZ\
%OLQL
GR 3HQWLXP ZáF]QLH±G]LHORQ\ FDFKH GDQ\FKL
UR]ND]yZ
3HQWLXP ± FDFKH /
²
N%
²
%QDOLQL
²
GUR*Q\ VHNF\MQRVNRMDU]HQLRZ\
FDFKH /
²
ZVSyOQ\GODGDQ\FKLUR]ND]yZ
²
N%
²
%QDOLQL
²
GUR*Q\ VHNF\MQRVNRMDU]HQLRZ\
3HQWLXP
XSURV]F]RQ\VFKHPDW
3DPLüSRGUF]QDGDQ\FK/
N%
%ORNUHMHVWUyZ)3
%ORNUHMHVWUyZFDáNRZLWROLF]ERZ\FK
-HGQRVWND
)3800;
$/8
]áR*RQ\FK
OLF]E
FDáN
$/8
SURVW\FK
OLF]E
FDáN
$/8
SURVW\FK
OLF]E
FDáN
XNáDG
áDGR
ZDQLD
DGUHVX
XNáDG
SU]HFKR
Z\ZDQLD
DGUHVX
-HGQRVWND
SU]HQR
V]HQLD
OLF]E)3
3DPLü
SRGUF]QD/
N%
3DPLüSRGUF]QD
UR]ND]yZ/
NPLNURRSHUDFML
-HGQRVWND
SRELHUDQLDL
GHNRGRZDQLD
UR]ND]yZ
8NáDG\
Z\NRQ\ZDQLD
UR]ND]yZSR]D
NROHMQRFL
E
E
PDJLVWUDOD
V\VWHPRZD
2UJDQL]DFMD FDFKH Z 3RZHU 3&
±/N%GUR*Q\ VHNF\MQRVNRMDU]HQLRZ\
±/N%G]LHORQ\[N%GUR*Q\
VHNF\MQRVNRMDU]HQLRZ\
±/N%[N%
±/N%[N%
**
²
N%/ FDFKH [N%
±
GUR*Q\ VHNF\MQRVNRMDU]HQLRZ\
²
N%N% RU 0%/ FDFKH
±
GUR*Q\ VHNF\MQRVNRMDU]HQLRZ\
3RZHU3& *
XSURV]F]RQ\VFKHPDW
3DPLüSRGUF]QD
GDQ\FK/N%
-HGQRVWND
)38
$/8
]áR*RQ\FK
OLF]E
FDáN
5HMHVWURZD
MHGQRVWND
SU]HQRV]HQLD
$/8
SURVW\FK
OLF]E
FDáN
-HGQRVWND
SHUPXWDFML
ZHNWRUyZ
-HGQRVWND
UHMHVWURZD
ZHNWRUyZ
-HGQRVWND
áDGRZDQLD
L]DSLVX
3DPLüSRGUF]QD
/0%
3DPLüSRGUF]QD
UR]ND]yZ/N%
-HGQRVWND
SRELHUDQLDL
GHNRGRZDQLD
UR]ND]yZ
PDJLVWUDOD
V\VWHPRZD
%ORNUHMHVWUyZ)3
%ORNUHMHVWUyZ*3
%ORNUHMZHNWRURZ\FK
$OWL9HF
3RUyZQDQLH FDFKH Uy0Q\FKSURFHVRUyZ
3URFHVRU
,%0
3'3
9$;
,%0
,%0
,QWHO
3HQWLXP
3RZHU3&
3RZHU3&
,%0*
3RZHU3& *
,%0*
3HQWLXP
,%063
&5$<07$
,WDQLXP
6*2ULJLQ
7\SNRPSXWHUD
VWDFMRQDUQ\
PLQLNRPSXWHU
PLQLNRPSXWHU
VWDFMRQDUQ\
VWDFMRQDUQ\
3&
3&
3&
3&
VWDFMRQDUQ\
3&VHUZHU
VWDFMRQDUQ\
3&VHUZHU
VHUZHUVXSHUNRPS
VXSHUNRPSXWHU
3&VHUZHU
VHUZHU
5RNZSURZDG]
/
/
/
:LHONRüFDFKHSRGDQRZN%
=DSLVµ[\¶R]QDF]DLORüFDFKHRGSRZLHGQLRQDLQVWUXNFMHLGDQH