IDX LQ45 August 2014

IDX LQ45
August 2014
Contents
Forewords
LQ45 Index Constituents for the period of August 2014 – January 2015
No. Code Stock Name Page

1. AALI Astra Agro Lestari Tbk. [S] (Plantation, 12) ................................................................................................................................................. 2
2. ADHI Adhi Karya (Persero) Tbk. [S] (Building Construction, 62) .................................................................................... 6
3. ADRO Adaro Energy Tbk. [S] (Coal Mining, 21) ...................................................................................................................................................... 10
4. AKRA AKR Corporindo Tbk. [S] (Wholesale (Durable and Non-Durable Goods, 91)) ........................................................................ 14
5. ANTM Aneka Tambang Tbk. [S] (Metal and Mineral Mining, 23) .................................................................................................................... 18
6. ASII Astra International Tbk. [S] (Automotive and Components, 42) ........................................................................................................ 22
7. ASRI Alam Sutera Realty Tbk. [S] (Property and Real Estate, 61) .............................................................................................................. 26
8. BBCA Bank Central Asia Tbk. (Bank, 81)................................................................................................................................................................... 30
9. BBNI Bank Negara Indonesia (Persero) Tbk. (Bank, 81) .................................................................................................................................. 34
10. BBRI Bank Rakyat Indonesia (Persero) Tbk. (Bank, 81) ................................................................................................................................. 38
11. BBTN Bank Tabungan Negara (Persero) Tbk. (Bank, 81). ................................................................................................................................ 42
12. BDMN Bank Danamon Tbk. (Bank, 81). ....................................................................................................................................................................... 46
13. BMRI Bank Mandiri (Persero) Tbk. (Bank, 81) ........................................................................................................................................................ 50
14. BMTR Global Mediacom Tbk. [S] (Investment Company, 98)........................................................................................................................... 54
15. BSDE Bumi Serpong Damai Tbk. [S] (Property and Real Estate, 61) .......................................................................................................... 58
16. CPIN Charoen Pokphand Indonesia Tbk. [S] (Animal Feed,36) .................................................................................................................... 62
17. CTRA Ciputra Development Tbk. [S] (Property and Real Estate,61) ............................................................................... 66
18. EXCL XL Axiata Tbk. [S] (Telecommunication,73) ................................................................................................................................................ 70
19. GGRM Gudang Garam Tbk. (Tobacco Manufacturers, 52) ................................................................................................................................. 74
20. HRUM Harum Energy Tbk. [S] (Coal Mining, 21)..................................................................................................................................................... 78
21. ICBP Indofood CBP Sukses Makmur Tbk. [S] (Food and Beverages, 51) ............................................................................................. 82
22. INCO Vale Indonesia Tbk. [S] (Metal and Mineral Mining, 23) ........................................................................................................................ 86
23. INDF Indofood Sukses Makmur Tbk. [S] (Food and Beverages, 51) .......................................................................................................... 90
24. INTP Indocement Tunggal Prakasa Tbk. [S] (Cement, 31).............................................................................................................................. 94
25. ITMG Indo Tambangraya Megah Tbk. [S] (Coal Mining, 21)............................................................................................................................ 98
26. JSMR Jasa Marga (Persero) Tbk. [S] (Toll Road, Airport, Harbor and Allied Products, 72) .............................................................. 102
27. KLBF Kalbe Farma Tbk. [S] (Pharmaceuticals, 53) .............................................................................................................................................. 106
28. LPKR Lippo Karawaci Tbk. [S] (Property and Real Estate, 61) ....................................................................................................................... 110
29. LPPF Matahari Department Store Tbk. (Retail Trade, 93) ................................................................................................................................ 114
30. LSIP PP London Sumatera Tbk. [S] (Plantation,12) ........................................................................................................................................... 118
31. MNCN Media Nusantara Citra Tbk. [S] (Advertising, Printing and Media,95) ............................................................................................ 122
32. PGAS Perusahaan Gas Negara (Persero) Tbk. [S] (Energy, 71).................................................................................................................... 126
33. PTBA Tambang Batubara Bukit Asam (Persero) Tbk. [S] (Coal Mining, 21) ............................................................................................ 130
34. PTPP PP (Persero) Tbk. [S] (Building Construction, 62) ................................................................................................ 134
35. PWON Pakuwon Jati Tbk. [S] (Property and Real Estate, 61) ........................................................................................................................... 138
36. SCMA Surya Citra Media Tbk. [S] (Advertising, Printing And Media, 95) .................................................................................................... 142
37. SMGR Semen Indonesia (Persero) Tbk. [S] (Cement, 31).................................................................................................................................. 146
38. SMRA Summarecon Agung Tbk. [S] (Property and Real Estate, 61) ............................................................................... 150
39. TAXI Express Transindo Utama Tbk. [S] (Transportation, 74) ....................................................................................... 154
40. TBIG Tower Bersama Infrastructure Tbk. (Non Building Construction, 75)..................................................................... 158
41. TLKM Telekomunikasi Indonesia (Persero) Tbk. [S] (Telecommunication, 73) ....................................................................................... 162
42. UNTR United Tractors Tbk. [S] (Wholesale (Durable and Non-Durable Goods, 91)......................................................... 166
43. UNVR Unilever Indonesia Tbk. [S] (Cosmetics and Household, 54).............................................................................................................. 170
44. WIKA Wijaya Karya (Persero) Tbk. [S] (Building Construction, 62) .............................................................................................................. 174
45. WSKT Waskita Karya (Persero) Tbk. [S] (Building Construction, 62) ............................................................................... 178
NOTES
1. Trading Volume, Value and Frequency :
Figure of trading volume, value, and frequency are calculated once. Trading Frequency refers to numbers of transaction.
2. Foreign Ownership
In September 1997, the foreign ownership limitation was abolished except for banks (49% of total listed shares). In May 1999, the
maximum number of listed shares and foreign ownership on banks company was set to 99%, based on Government regulation
dated May 7th, 1999.
3. Number of listed shares
This figures refers to the total number of shares that is already listed and can be traded at the exchange
4. Market Capitalization
This figures indicates the aggregate number of listed shares multiplied by regular market closing price
5. Jakarta Composite Index
Jakarta Composite Index =

∑ (Regular Closing Price x Number of Shares )
Base Value
Base Value =
∑( Base Price x Number of Shares )
Regular Closing Price
Individual Index =
Base Price
6. To calculate the Jakarta Composite Index and Stock Individual Index, Base Price and Base Value are adjusted when bonus and
rights issues, share splits and consolidations are made. Base price for new listed companies is IPO price.
7. Earnings Per Share (EPS)
The figure of EPS is derived by dividing Profit for the period attribute to owner’s entity by number of issued shares. We annualized
the EPS when interim reports are used (see the Financial statement dates and Financial Year Ends).
8. Book Value per Share (BV)
The figure of BV is derived by dividing the Total Shareholders’ Equity by number of issued shares.
9. Debt to Assets Ratio (DAR)
Total Liabilities
DAR = x 100%
Total Assets
10. Debt to Equity Ratio (DER)

Total Liabilities
DER = x 100%
Total Equity
11. Return on Assets (ROA)

Profit for the period
ROA = x 100%
Total Assets
12. Return on Equity (ROE)

Profit for the period
ROE = x 100%
Total Equity
13. Gross Profit Margin (GPM)

Gross Profit
GPM = x 100%
Total Sales
14. Operating Profit Margin (OPM)
Operating Income
OPM = x 100%
Total Sales
15. Net Profit Margin (NPM)
Profit for period
NPM = x 100%
Total Sales
Dividend
16. Payout Ratio = x 100%
EPS
Dividend
17. Yield = x 100%
Closing Price
18. [S] Sharia Compliant Stock
19. Period Attribute : Profit for the period attributable to owner’s entity
20. Comprehensive Attribute : Comprehensive Income attributable to owner’s entity

FOREWORDS
This publication is designated as a service to domestic investors and other capital market participants, as part of the nation-wide efforts
in educating and improving the dissemination of capital market information. These efforts are important in carrying out the task of
expanding the domestic investor base.
To improve the future editions of this publication, the readers’ comments and feedback would be highly appreciated.
Jakarta, August 2014
Research and Development Division

Indonesia Stock Exchange
© 2014 Indonesia Stock Exchange. All rights reserved.
Disclaimer :
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as
being those of the publisher or of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the
information contained within the publication it should not be by any person relied upon as the basis for taking any action or making any decision. The
Indonesia Stock Exchange cannot be held liable or otherwise responsible in anyway for any advice action taken or decision made on the basis of the facts
and opinions stated or expressed or stated within this publication.
LQ45 Index Constituents
for the period of August 2014 – January 2015
COMPANY REPORT
AALI
ASTRA AGRO LESTARI TBK.
Company Profile
PT Astra Agro Lestari Tbk. was established dated October 3rd, 1988. The scope of its
activities is to engage in plantation operation, general trading, manufacturing,
transportation, consultation and services.
The Company has investments in subsidiaries which are engaged in oil palm and rubber
plantations and industrial activities. The Company commenced commercial operations in
1995. The company’s oil palm plantations and its mill are located in South Kalimantan. The
subsidiaries’ plantations and mills are located in Java, Sumatera, Kalimantan, and Sulawesi.
PT Astra International Tbk. is the parent entity of the Company, whereas Jardine Matheson
Holdings Ltd, incorporated in Bermuda, is its ultimate parent entity.
As of June 30th, 2014, the Company and subsidiaries had 33,717 permanent employees.
August 2014
Disclaimer:
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being those of the publisher or
of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the publication it should not be
by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or otherwise responsible in anyway for any
advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.
2 RESEARCH AND DEVELOPMENT DIVISION

AALI Astra Agro Lestari Tbk. [S]
COMPANY REPORT : JULY 2014 As of 25 July 2014
Main Board Individual Index : 2,067.091
Industry Sector : Agriculture (1) Listed Shares : 1,574,745,000
Industry Sub Sector : Plantation (12) Market Capitalization : 42,045,691,500,000
22 | 42.0T | 0.83% | 59.96%
40 | 6.10T | 0.72% | 72.26%
COMPANY HISTORY SHAREHOLDERS (July 2014)

Established Date : 03-Oct-1988 1. PT Astra International Tbk. 278,599,850 : 17.69%
Listing Date : 09-Dec-1997 2. PT Astra International Tbk. 976,231,238 : 61.99%
Under Writer IPO : 3. Public (<5%) 319,913,912 : 20.32%
PT ABN AMRO Hoare Govett Indonesia
Securities Administration Bureau : DIVIDEND ANNOUNCEMENT
PT Raya Saham Registra Bonus Cash Recording Payment
F/I
Plaza Central Building 2nd Fl. Year Shares Dividend Cum Date Ex Date Date Date
Jln. Jend. Sudirman Kav. 47 - 48 Jakarta 12930 1997 37.00 22-Jun-98 23-Jun-98 01-Jul-98 20-Jul-98 F
Phone : (021) 252-5666 1998 60.00 29-Oct-98 30-Oct-98 09-Nov-98 23-Nov-98 I
Fax : (021) 252-5028 1998 25.00 27-May-99 28-May-99 08-Jun-99 05-Jul-99 F
1999 5:1 27-May-99 28-May-99 08-Jun-99 05-Jul-99 B
BOARD OF COMMISSIONERS 1999 45.00 31-May-00 02-Jun-00 12-Jun-00 26-Jun-00 F
1. Prijono Sugiarto 2000 7.00 07-Jun-01 08-Jun-01 13-Jun-01 27-Jun-01 F
2. Anugerah Pekerti *) 2001 10.00 18-Jun-02 19-Jun-02 24-Jun-02 04-Jul-02 F
3. Chiew Sin Cheok 2002 60.00 05-Jun-03 06-Jun-03 10-Jun-03 24-Jun-03 F
4. Gunawan Geniusahardja 2003 90.00 04-Jun-04 07-Jun-04 09-Jun-04 23-Jun-04 F
5. Harbrinderjit Singh Dillon *) 2004 100.00 06-Dec-04 07-Dec-04 09-Dec-04 23-Dec-04 I
6. Simon Collier Dixon 2004 150.00 06-Jun-05 07-Jun-05 09-Jun-05 23-Jun-05 F
*) Independent Commissioners 2005 325.00 12-May-06 15-May-06 17-May-06 01-Jun-06 F
2006 95.00 17-Oct-06 18-Oct-06 20-Oct-06 10-Nov-06 I
BOARD OF DIRECTORS 2006 230.00 11-Jun-07 12-Jun-07 14-Jun-07 25-Jun-07 I
1. Widya Wiryawan 2007 190.00 19-Oct-07 22-Oct-07 24-Oct-07 02-Nov-07 I
2. Bambang Palgoenadi 2007 625.00 16-Jun-08 17-Jun-08 19-Jun-08 30-Jun-08 F
3. Jamal Abdul Nasser 2008 350.00 23-Oct-08 24-Oct-08 28-Oct-08 11-Nov-08 I
4. Joko Supriyono 2008 155.00 04-Jun-09 05-Jun-09 09-Jun-09 23-Jun-09 F
5. Juddy Arianto 2009 220.00 30-Oct-09 02-Nov-09 04-Nov-09 11-Nov-09 I
6. Rudy 2009 685.00 08-Jun-10 09-Jun-10 11-Jun-10 25-Jun-10 F
2010 190.00 26-Oct-10 27-Oct-10 29-Oct-10 12-Nov-10 I
AUDIT COMMITTEE 2010 640.00 20-May-11 23-May-11 25-May-11 09-Jun-11 F
1. Anugerah Pekerti 2011 300.00 24-Oct-11 25-Oct-11 27-Oct-11 10-Nov-11 I
2. Purnama Setiawan 2011 695.00 08-May-12 09-May-12 14-May-12 29-May-12 F
3. Siti Nurwahyuningsih 2012 230.00 16-Oct-12 17-Oct-12 19-Oct-12 05-Nov-12 I
2012 455.00 15-May-13 16-May-13 20-May-13 03-Jun-13 F
CORPORATE SECRETARY 2013 160.00 02-Oct-13 03-Oct-13 07-Oct-13 23-Oct-13 I
Rudy 2013 515.00 09-May-14 12-May-14 14-May-14 30-May-14 F
2014 244.00 09-Oct-14 10-Oct-14 14-Oct-14 28-Oct-14 I
HEAD OFFICE
Jln. Puloayang Raya Blok OR - I, ISSUED HISTORY
Kawasan Industri Pulogadung Listing Trading
Jakarta - 13930 No. Type of Listing Shares Date Date
Phone : (021) 461-6555 1. First Issue 125,800,000 09-Dec-97 09-Dec-97
Fax : (021) 461-6682, (021) 461-6689 2. Company Listing 1,132,200,000 T: 09-Dec-97 : 21-Jul-98
3. Bonus Shares 251,600,000 06-Jul-99 06-Jul-99
Homepage : www.astra-agro.co.id 4. Option Conversion 12,005,000 T: 22-Apr-02 : 07-Jun-02
Email : Investor@astra-agro.co.id 5. Option Conversion I & II 5,494,500 T: 10-Jun-02 : 22-Jan-03
6. Option Conversion II 16,161,500 T: 02-Jul-02 : 13-Jan-04
7. Option Conversion I 60,000 T: 14-Jan-03 : 31-Jan-03
8. Option Conversion I 102,000 20-Jan-03 20-Jan-03
9. Option Conversion II & III 7,048,500 T: 14-Jan-04 : 04-Mar-04
10. Option Conversion III 19,518,500 T: 15-Jan-04 : 13-May-05
11. Option Conversion II 1,947,000 T: 23-Jan-04 : 18-May-04
12. Option Conversion II & III 2,808,000 T: 12-Apr-04 : 23-Apr-04
RESEARCH AND DEVELOPMENT DIVISION 3

TRADING ACTIVITIES
Closing Price* and Trading Volume
Astra Agro Lestari Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
Price* January 2010 - July 2014 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
30,000 16.0 Jan-10 25,550 22,550 23,850 7,916 19,130 466,497 20
Feb-10 24,900 22,800 24,200 8,153 20,719 490,352 19
26,250 14.0 Mar-10 25,650 23,700 24,600 8,010 22,509 552,241 22
Apr-10 25,000 22,050 22,200 12,172 35,054 828,743 21
May-10 22,500 17,050 19,850 15,859 33,661 671,865 19
22,500 12.0
Jun-10 21,550 18,800 19,350 12,046 28,656 588,440 22
Jul-10 21,400 18,000 19,500 18,411 56,028 1,088,254 22
18,750 10.0
Aug-10 21,700 18,900 19,650 15,573 43,260 878,640 21
Sep-10 22,500 19,650 20,700 11,714 34,088 724,583 17
15,000 8.0
Oct-10 26,050 20,650 24,900 14,561 43,748 1,029,862 21
Nov-10 27,100 23,650 24,150 11,673 33,724 848,524 21
11,250 6.0 Dec-10 27,650 23,100 26,200 14,520 37,879 958,400 20
7,500 4.0 Jan-11 27,000 21,000 21,700 17,601 40,233 959,441 21

Feb-11 23,250 21,100 21,850 12,465 25,441 564,248 18
3,750 2.0 Mar-11 23,400 21,550 22,700 13,880 30,884 691,672 23
Apr-11 23,250 22,350 23,150 9,975 24,194 552,655 20
May-11 24,200 22,400 23,600 12,117 29,036 686,010 21
Jun-11 23,950 22,500 23,500 7,249 14,836 343,715 20
Jan-10 Jan-11 Jan-12 Jan-13 Jan-14
Jul-11 23,800 22,700 23,500 7,950 17,996 417,329 21
Aug-11 23,700 19,000 21,500 11,095 21,690 471,543 19
Sep-11 22,850 18,100 19,300 11,760 18,119 375,898 20
Closing Price*, Jakarta Composite Index (IHSG) and Oct-11 22,200 16,550 21,450 15,106 26,569 494,785 21
Agriculture Index Nov-11 22,950 20,400 22,400 9,018 13,667 300,152 22
January 2010 - July 2014 Dec-11 22,900 20,500 21,700 7,255 9,946 214,498 21
125%
Jan-12 22,550 20,550 20,600 10,520 17,532 382,289 21
100% 97.6% Feb-12 23,000 20,300 22,300 10,953 26,112 569,072 21
Mar-12 23,350 18,500 23,350 11,605 26,569 592,007 21
75% Apr-12 23,750 21,000 21,400 10,260 24,103 544,061 20
May-12 21,700 18,000 20,450 12,047 23,427 471,617 21
50% Jun-12 22,000 19,150 20,050 13,159 27,916 579,302 21
Jul-12 24,000 20,100 23,000 9,547 20,808 467,231 22
Aug-12 23,300 21,250 22,300 5,828 10,839 240,513 19
25% 24.1%
Sep-12 23,400 19,350 21,950 14,218 33,952 728,250 20
11.9%
Oct-12 22,100 20,200 20,950 8,856 18,910 398,764 22
-
Nov-12 21,300 17,950 18,000 7,904 15,084 297,057 20
Dec-12 19,750 17,800 19,700 10,801 22,617 422,905 18
-25%
Jan-13 20,850 18,750 18,850 10,591 20,796 409,347 21

-50% Feb-13 19,300 18,250 18,450 11,374 33,001 622,045 20
Mar-13 19,200 17,850 18,500 15,207 36,954 678,998 19
-75% Apr-13 18,700 17,300 17,700 10,808 21,488 388,219 22
Jan 10 Jan 11 Jan 12 Jan 13 Jan 14 May-13 19,500 16,900 19,500 16,961 35,698 646,786 22
Jun-13 21,000 17,800 19,700 17,880 42,231 814,363 19
Jul-13 19,900 15,500 15,550 13,025 21,333 370,322 23
SHARES TRADED 2010 2011 2012 2013 Jul-14 Aug-13 19,800 13,100 19,750 19,132 37,761 640,710 17
Volume (Million Sh.) 408 273 268 388 238 Sep-13 21,750 18,350 19,500 15,471 52,971 1,097,030 21
Value (Billion Rp) 9,126 6,072 5,693 7,542 6,104 Oct-13 21,300 18,500 18,600 10,945 21,638 435,579 21
Frequency (Thou. X) 151 135 126 167 252 Nov-13 23,400 18,050 22,250 12,858 35,024 759,116 20
Days 245 247 246 244 137 Dec-13 25,750 22,250 25,100 12,429 28,622 679,065 19
Price (Rupiah) Jan-14 25,800 20,650 21,475 44,874 40,059 875,810 20

High 27,650 27,000 24,000 25,750 29,850 Feb-14 25,750 21,250 25,500 32,016 37,535 879,827 20
Low 17,050 16,550 17,800 13,100 20,650 Mar-14 27,900 24,400 26,000 42,550 37,625 991,848 20
Close 26,200 21,700 19,700 25,100 26,700 Apr-14 29,475 25,125 29,400 36,774 29,006 788,587 20
Close* 26,200 21,700 19,700 25,100 26,700 May-14 29,850 26,600 27,325 32,492 30,003 842,728 18
Jun-14 29,350 26,050 28,175 26,838 28,216 770,842 21
PER (X) 20.46 13.68 12.64 32.54 15.36 Jul-14 28,175 25,600 26,700 36,013 35,895 954,698 18
PER Industry (X) 0.14 1.79 33.17 20.59 16.01
PBV (X) 5.72 4.06 3.31 4.26 3.81
* Adjusted price after corporate action

Financial Data and Ratios Book End : December
Public Accountant : Tanudiredja, Wibisana & Rekan (Member of PricewaterhouseCoopers Global Network)
BALANCE SHEET Dec-10 Dec-11 Dec-12 Dec-13 Jun-14 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
(Million Rp except Par Value) Assets Liabilities
Cash & Cash Equivalents 1,240,781 838,190 227,769 709,090 691,915 17,500
Receivables 98,832 16,358 50,068 20,554 138,691

624,694 769,903 1,249,050 802,978 1,418,851 14,000
Inventories
Current Assets 2,051,177 1,886,387 1,780,395 1,691,694 2,760,495
10,500
Fixed Assets 2,686,910 3,424,194 4,918,673 6,493,712 7,235,970
Other Assets 180,232 285,155 150,998 422,305 652,559
7,000
Total Assets 8,791,799 10,204,495 12,419,820 14,963,190 17,207,582
Growth (%) 16.07% 21.71% 20.48% 15.00% 3,500
Current Liabilities 1,061,852 1,440,351 2,600,540 3,759,265 5,427,462 -

Long Term Liabilities 272,690 337,986 453,869 936,066 733,150 2010 2011 2012 2013 Jun-14
Total Liabilities 1,334,542 1,778,337 3,054,409 4,695,331 6,160,612
Growth (%) 33.25% 71.76% 53.72% 31.21%
TOTAL EQUITY (Bill. Rp)
Authorized Capital 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 11,047
Paid up Capital 787,373 787,373 787,373 787,373 787,373 11,047 10,268
9,365
Paid up Capital (Shares) 1,575 1,575 1,575 1,575 1,575 8,426
Par Value 500 500 500 500 500
8,793
7,212
Retained Earnings 6,340,711 7,268,639 8,158,203 8,087,559 9,813,291
6,540
Total Equity 7,211,687 8,426,158 9,365,411 10,267,859 11,046,970

Growth (%) 16.84% 11.15% 9.64% 7.59% 4,286
INCOME STATEMENTS Dec-10 Dec-11 Dec-12 Dec-13 Jun-14 2,033
Total Revenues 8,843,721 10,772,582 11,564,319 12,674,999 8,007,691

Growth (%) 21.81% 7.35% 9.60%
-221
2010 2011 2012 2013 Jun-14
Cost of Revenues 5,234,372 6,837,674 7,206,837 8,593,064 5,514,260

Gross Profit 3,609,349 3,934,908 4,357,482 4,081,935 2,493,431
TOTAL REVENUES (Bill. Rp)
Expenses (Income) 610,638 601,976 832,589 1,476,864 488,315
Operating Profit 2,998,711 3,332,932 - - - 12,675
12,675
11,564
Growth (%) 11.15% N/A 10,773
10,089
8,844
Other Income (Expenses) -34,671 - - - - 8,008
Income before Tax 2,964,040 3,332,932 3,524,893 2,605,071 2,005,116 7,504
Tax 860,388 834,367 1,004,627 701,983 579,210

Profit for the period 2,103,652 2,498,565 2,520,266 1,903,088 1,425,906
4,918
Growth (%) 18.77% 0.87% -24.49%

2,332
Period Attributable 2,016,780 2,405,564 2,410,259 1,801,397 1,368,744 -253
Comprehensive Income 2,103,652 2,498,565 2,453,654 1,936,250 1,405,861 2010 2011 2012 2013 Jun-14
Comprehensive Attributable 2,016,780 2,405,564 2,346,203 1,833,891 1,348,699
RATIOS Dec-10 Dec-11 Dec-12 Dec-13 Jun-14 PROFIT FOR THE PERIOD (Bill. Rp)
Current Ratio (%) 193.17 130.97 68.46 45.00 50.86
2,499 2,520
Dividend (Rp) 830.00 995.00 685.00 675.00 244.00
1,280.70 1,527.59 1,530.57 1,143.93 869.18 2,104
EPS (Rp)
1,903
BV (Rp) 4,579.59 5,350.81 5,947.26 6,520.33 7,015.08 2,006
DAR (X) 0.15 0.17 0.25 0.31 0.36 1,426

1,492
DER(X) 0.19 0.21 0.33 0.46 0.56

ROA (%) 23.93 24.48 20.29 12.72 8.29 978
ROE (%) 29.17 29.65 26.91 18.53 12.91

GPM (%) 40.81 36.53 37.68 32.20 31.14 464
OPM (%) 33.91 30.94 - - -

NPM (%) 23.79 23.19 21.79 15.01 17.81
-50
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 64.81 65.14 44.75 59.01 28.07
Yield (%) 3.17 4.59 3.48 2.69 0.87

COMPANY REPORT
ADHI
ADHI KARYA (PERSERO) TBK.
Company Profile
ADHI has managed to show its ability as a leading construction company in Southeast
Asia, through competitiveness and proven experience by running successful construction
projects. ADHI could not have achieved success without the support and participation of
the public. ADHI plays an active role in developing CSR programs as well as the Company’s
Partnership and Environmental Preservation Program.
In accordance with the Long-Term Business Plan of ADHI 2012-2016, the Company plans
for corporate activities in five business lines in order to increase the value of ADHI. Those
business lines are Construction, EPC, Property, Realty and Investment in Infrastructure.
In our core business lines of construction and EPC services, our business development
strategy is focused on continuously enhancing our professionalism through quality
products and timely deliveries. Here, the role of ALC (ADHI Learning Center) comes into
the forefront. ALC has been in operations for more than a year, and its benefits are
already felt. Through ALC, ADHI personnel are equipped with the passion to excel, and
to always strive for quality by working intelligently and efficiently. With such passion, we
form another subsidiary entity –specialize in building construction– Adhi Persada Gedung
(APG).
In addition to the Construction and EPC businesses, the Company has operated and
profited from the Property and Realty businesses through two subsidiary entities, namely
Adhi Persada Properti (APP) and Adhi Persada Realti (APR). Expanding from the Property
business base, the Company has also made plans to develop four-star hotels in Blok-M
area Jakarta, and Surabaya; and three-star hotels in Bekasi and Medan. This move is
designed to strengthen our Property business structure in the future, in addition to reap
the benefit of recurring income. Meanwhile, in the Realty business, we are adopting a
strategy of not only developing landed houses, but also managing commercial areas
(malls, lifestyle centers and shopping complexes) also with the aim of strengthening our
recurring income. From the point of view of market demand, the need for precast
concrete has grown significantly in support of major infrastructure projects. Modern
project management also requires applications in precast concrete technology that can
enhance project executions, whether in the form of concrete piles or other products. In
order to manage the business professionally, independent, and fast emerging, the
Company plan to establish a new subsidiary namely Adhi Persada Beton (APB).
August 2014
Disclaimer:
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being those of the publisher or of
the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the publication it should not be by
any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or otherwise responsible in anyway for any advice
action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.

ADHI Adhi Karya (Persero) Tbk. [S]
Industry Sector : Property, Real Estate And Building Construction (6) Listed Shares : 1,801,320,000
Industry Sub Sector : Building Construction (62) Market Capitalization : 5,602,105,200,000
128 | 5.60T | 0.11% | 90.34%
17 | 11.5T | 1.36% | 49.97%

Established Date : 11-Mar-1960 1. Negara Republik Indonesia 918,680,000 : 51.00%
Listing Date : 18-Mar-2004 2. Public (<5%) 882,640,000 : 49.00%
Under Writer IPO :
PT Ciptadana Sekuritas DIVIDEND ANNOUNCEMENT
Securities Administration Bureau : Bonus Cash Recording Payment
F/I
PT Datindo Entrycom Year Shares Dividend Cum Date Ex Date Date Date
Puri Datindo - Wisma Sudirman 2003 12.30 07-Jul-04 08-Jul-04 12-Jul-04 23-Jul-04 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2005 19.56 17-Jun-05 20-Jun-05 22-Jun-05 06-Jul-05
Phone : (021) 570-9009 2005 12.98 20-Jul-06 21-Jul-06 25-Jul-06 08-Aug-06 F
Fax : (021) 570-9026 2006 10.61 17-Jul-07 18-Jul-07 20-Jul-07 03-Aug-07 F
2008 11.51 02-Jul-09 03-Jul-09 07-Jul-09 22-Jul-09 F
BOARD OF COMMISSIONERS 2009 28.26 30-Jun-10 01-Jul-10 05-Jul-10 19-Jul-10 F
1. Imam Santoso Ernawi 2010 32.35 04-Jul-11 05-Jul-11 07-Jul-11 20-Jul-11 F
2. Achmad Gani Ghazali Akman 2011 30.33 05-Jun-12 06-Jun-12 08-Jun-12 22-Jun-12 F
3. Bobby A.A. Nazief 2012 23.49 13-May-13 14-May-13 16-May-13 29-May-13 F
4. Muchlis R. Luddin *) 2013 67.61 04-Apr-14 07-Apr-14 10-Apr-14 25-Apr-14 F
5. Murhadi *)
6. Suroyo Alimoeso ISSUED HISTORY
*) Independent Commissioners Listing Trading
No. Type of Listing Shares Date Date
BOARD OF DIRECTORS 1. First Issue 397,188,000 18-Mar-04 18-Mar-04
1. Kiswodarmawan 2. Company Listing 918,680,000 18-Mar-04 18-Mar-04
2. BEP Adji Satmoko 3. Employee Management Buy Out (EMBO) 441,320,000 18-Mar-04 03-Jul-06
3. Djoko Prabowo 4. Employee Stock Allocation (ESA) 44,132,000 18-Mar-04 26-Jun-04
4. Giri Sudaryono
5. Pundjung Setya Brata
6. Supardi
AUDIT COMMITTEE
1. Muchlis R. Luddin
2. Salim Siagian
3. Syaiful
CORPORATE SECRETARY
M. Aprindy
HEAD OFFICE
Jln. Raya Pasar Minggu Km.18
Jakarta - 12510
Phone : (021) 797-5312
Fax : (021) 797-5311
Homepage : www.adhi.co.id
Email : adhi@adhi.co.id

TRADING ACTIVITIES
Adhi Karya (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
4,000 240 Jan-10 425 390 405 4,651 91,954 37,614 20
Feb-10 405 370 390 1,403 34,699 13,313 19
3,500 210 Mar-10 450 380 440 5,352 128,895 54,921 22
Apr-10 640 435 590 15,799 643,765 363,176 21
May-10 590 410 490 5,174 149,934 73,525 19
3,000 180
Jun-10 640 455 620 7,698 235,268 134,928 22
Jul-10 670 560 650 9,178 327,722 199,206 22
2,500 150
Aug-10 690 570 660 5,671 202,433 131,258 21
Sep-10 1,020 640 960 12,718 326,527 273,447 17
2,000 120
Oct-10 1,090 950 1,000 7,814 174,830 177,657 21
Nov-10 1,000 870 890 3,533 49,095 45,811 21
1,500 90 Dec-10 1,010 770 910 32,541 429,282 395,801 20
1,000 60 Jan-11 930 760 790 4,882 113,072 95,505 21

Feb-11 850 750 830 3,295 75,255 60,185 18
500 30 Mar-11 850 760 840 6,687 98,898 80,322 23
Apr-11 900 820 820 14,093 172,522 148,957 20
May-11 830 740 780 5,278 95,026 75,050 21
Jun-11 800 740 800 3,127 53,179 40,725 20
Jul-11 820 700 710 6,361 100,864 75,362 21
Aug-11 720 510 580 6,573 119,233 70,518 19
Sep-11 610 450 510 4,259 60,629 33,605 20
Closing Price*, Jakarta Composite Index (IHSG) and Oct-11 580 455 530 6,873 84,676 45,079 21
Property, Real Estate and Bulding Construction Index Nov-11 520 445 460 13,367 134,909 65,650 22
January 2010 - July 2014 Dec-11 640 435 580 11,915 359,328 198,452 21
910%
Jan-12 720 570 690 8,235 193,549 126,624 21
780% Feb-12 750 680 710 4,743 129,177 92,626 21
Mar-12 800 700 800 4,622 107,316 79,249 21
650% 658.5% Apr-12 1,040 750 990 11,373 306,721 280,632 20
May-12 1,140 940 970 7,410 202,611 210,502 21
520% Jun-12 1,010 860 990 3,027 59,294 56,177 21
Jul-12 1,050 860 910 4,409 84,526 79,675 22
Aug-12 960 830 900 4,771 85,274 76,887 19
390%
Sep-12 1,090 870 1,040 5,588 119,462 116,886 20
Oct-12 1,440 1,000 1,410 12,885 284,217 345,507 22
260%
Nov-12 1,910 1,360 1,890 13,164 272,742 431,698 20
213.8%
Dec-12 2,100 1,630 1,760 24,655 363,628 674,866 18
130%
97.6%
Jan-13 2,150 1,730 2,000 25,820 386,992 740,424 21
- Feb-13 2,650 1,990 2,575 17,280 317,854 723,135 20
Mar-13 3,175 2,400 3,100 17,226 224,360 635,962 19
-130% Apr-13 3,175 2,700 2,975 19,520 242,917 711,019 22
Jun-13 4,000 3,100 3,325 27,380 298,365 1,054,227 19
Jul-13 3,375 2,400 3,075 26,992 292,062 856,830 23
Volume (Million Sh.) 2,794 1,468 2,209 5,112 4,271 Sep-13 2,275 1,510 2,025 71,392 1,395,702 2,639,571 21
Value (Billion Rp) 1,901 989 2,571 11,472 11,463 Oct-13 2,150 1,830 1,950 44,551 759,652 1,504,721 21
Days 245 247 246 244 137 Dec-13 1,780 1,460 1,510 22,832 383,774 633,407 19
Price (Rupiah) Jan-14 1,850 1,425 1,780 34,825 523,862 885,065 20

High 1,090 930 2,100 4,000 3,420 Feb-14 2,390 1,755 2,340 51,624 769,177 1,595,184 20
Low 370 435 570 1,460 1,425 Mar-14 3,110 2,275 2,995 53,545 573,781 1,597,729 20
Close 910 580 1,760 1,510 3,110 Apr-14 3,335 2,675 2,985 86,169 890,637 2,676,720 20
Close* 910 580 1,760 1,510 3,110 May-14 3,340 2,950 3,130 50,309 514,322 1,636,032 18
Jun-14 3,150 2,620 2,785 45,534 320,944 925,441 21
PER (X) 8.65 5.72 14.84 11.35 46.75 Jul-14 3,420 2,725 3,110 77,411 678,458 2,147,006 18
PER Industry (X) 9.97 11.09 17.34 17.79 19.77
PBV (X) 1.90 1.05 2.68 2.06 3.77

Public Accountant : Aryanto, Amir Jusuf, Mawar & Saptoto (Member of RSM International)
Cash & Cash Equivalents 242,118 552,203 948,846 1,939,960 777,512 10,000
Receivables 1,657,387 1,657,080 2,332,098 2,705,085 3,039,064

61,766 68,562 116,552 161,560 202,109 8,000
Inventories
Investment 46,234 197,644 62,804 60,034 52,434
6,000
Fixed Assets 186,401 220,861 187,437 271,257 317,867
Other Assets 8,387 18,154 34,248 65,081 91,633
4,000
Total Assets 4,927,696 6,112,954 7,872,074 9,720,962 9,713,437
Growth (%) 24.05% 28.78% 23.49% -0.08% 2,000
Bank Payable 192,017 200,920 211,800 581,266 -

Trade Payable 2,214,234 3,132,496 4,276,690 4,767,420 4,462,410 2010 2011 2012 2013 Jun-14
Growth (%) 26.17% 30.62% 22.14% 0.68%
Authorized Capital 544,000 544,000 544,000 544,000 544,000 1,548
1,486
Paid up Capital 180,132 180,132 180,132 180,132 180,132 1,548

Par Value 100 100 100 100 100
1,233
990
Retained Earnings 668,355 790,784 943,642 1,307,301 1,245,422 861
917
Total Equity 861,113 990,368 1,180,919 1,548,463 1,485,648

Growth (%) 15.01% 19.24% 31.12% -4.06% 601
INCOME STATEMENTS Dec-10 Dec-11 Dec-12 Dec-13 Jun-14 285
Total Revenues 5,674,980 6,695,112 7,627,703 9,799,598 3,192,963

Growth (%) 17.98% 13.93% 28.47%
-31
2010 2011 2012 2013 Jun-14
Cost of Revenues 4,964,348 5,960,704 6,671,815 8,606,444 2,922,837

Gross Profit 769,110 799,042 1,043,220 1,247,711 273,096
Operating Expenses 218,276 385,498 531,378 425,009 66,347
Operating Profit 550,834 413,544 - - - 9,800
9,800
Growth (%) -24.92% N/A

7,628
7,800
6,695
Other Income (Expenses) -230,014 -87,164 -88,526 -108,337 -48,595
5,675
Income before Tax 320,820 326,380 423,315 714,365 158,154 5,801
Tax 130,627 143,687 209,998 305,927 97,610

3,193
Profit for the period 190,194 182,693 213,318 408,438 60,544
3,802
Growth (%) -3.94% 16.76% 91.47%

1,803
Period Attributable 189,484 182,116 211,590 405,977 59,914 -196
Comprehensive Income 181,525 182,727 213,651 409,862 60,268 2010 2011 2012 2013 Jun-14
Comprehensive Attributable 180,815 182,150 211,924 407,401 59,638
Dividend (Rp) 32.35 30.33 23.49 67.61 -
408
EPS (Rp) 105.19 101.10 117.46 225.38 33.26 408
BV (Rp) 478.05 549.80 655.59 859.63 824.76

DAR (X) 0.82 0.84 0.85 0.84 0.85 325
DER(X) 4.71 5.17 5.67 5.28 5.54

242 213
ROA (%) 3.86 2.99 2.71 4.20 0.62 190 183
ROE (%) 22.09 18.45 18.06 26.38 4.08 158
GPM (%) 13.55 11.93 13.68 12.73 8.55

61
OPM (%) 9.71 6.18 - - - 75
NPM (%) 3.35 2.73 2.80 4.17 1.90

Payout Ratio (%) 30.75 30.00 20.00 30.00 -
-8
2010 2011 2012 2013 Jun-14

Yield (%) 3.55 5.23 1.33 4.48 -

COMPANY REPORT
ADRO
ADARO ENERGY TBK.
Company Profile
PT Adaro Energy Tbk. was established July 28th, 2004. The Company is engaged in trading,
services, industry, coal hauling, workshop activities, mining and construction. The
Company’s subsidiaries are engaged in coal mining, coal trading, mining contractor
services, infrastructure, coal logistics and power generation activities.
The Company commenced its commercial operations in July 2005. The Company’s head
office is domiciled in Jakarta and located at Menara Karya Building, 23rd Floor, Jln. H.R.
Rasuna Said Block X-5, Kav. 1-2, South Jakarta.
PT Adaro Energy Tbk. is a vertically integrated group; in addition to its core mining
subsidiary Adaro Indonesia, it owns subsidiaries along the length of its coal supply chain
from pit to port to power, including in mining, barging, shiploading, dredging, port services,
marketing and power generation.
The subsidiaries combine with a range of contractors to produce and deliver coal with
industry-leading efficiency and low cost.
As at June 30th, 2014 the Group had 6,654 permanent employees.
August 2014
Disclaimer:
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being those of the
publisher or of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the
publication it should not be by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or
otherwise responsible in anyway for any advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.

ADRO Adaro Energy Tbk. [S]
Main Board Individual Index : 107.727
Industry Sector : Mining (2) Listed Shares : 31,985,962,000
Industry Sub Sector : Coal Mining (21) Market Capitalization : 37,903,364,970,000
26 | 37.9T | 0.75% | 63.09%
22 | 9.96T | 1.18% | 56.12%

Established Date : 28-Jul-2004 1. Garibaldi Thohir 1,976,632,654 : 6.18%
Listing Date : 16-Jul-2008 2. PT Adaro Strategic Investments 14,045,425,500 : 43.91%
Under Writer IPO : 3. Public (<5%) 15,963,903,846 : 49.91%
PT Danatama Makmur
PT Ficomindo Buana Registrar Bonus Cash Recording Payment
F/I
Mayapada Tower 10th Fl. Suite 02 B Year Shares Dividend Cum Date Ex Date Date Date
Jln. Jend. Sudirman Kav. 28 Jakarta 12920 2008 11.80 25-Aug-09 26-Aug-09 28-Aug-09 11-Sep-09 F
Phone : (021) 521-2316, 521-2317 2009 12.00 11-Dec-09 14-Dec-09 16-Dec-09 30-Dec-09 I
Fax : (021) 521-2320 2009 17.00 02-Jun-10 03-Jun-10 07-Jun-10 18-Jun-10 F
2010 9.85 26-Nov-10 29-Nov-10 01-Dec-10 10-Dec-10 I
BOARD OF COMMISSIONERS 2010 20.50 27-May-11 30-May-11 01-Jun-11 09-Jun-11 F
1. Edwin Soeryadjaya 2011 USD 0.00235 28-Nov-11 29-Nov-11 01-Dec-11 09-Dec-11 I
2. Palgunadi Tatit Setyawan *) 2011 USD 0.00575 29-May-12 30-May-12 01-Jun-12 12-Jun-12 F
3. Raden Pardede *) 2012 USD 0.0013 29-May-12 30-May-12 01-Jun-12 12-Jun-12 I
4. Subianto 2012 USD 0.0011 26-Dec-12 27-Dec-12 02-Jan-13 15-Jan-13 I
5. Theodore Permadi Rachmat 2012 USD 0.00126 29-May-13 30-May-13 03-Jun-13 12-Jun-13 F
*) Independent Commissioners 2013 USD 0.00125 24-Dec-13 27-Dec-13 02-Jan-14 16-Jan-14 I
2013 USD 0.0011 26-May-14 28-May-14 02-Jun-14 12-Jun-14 F
BOARD OF DIRECTORS
1. Garibaldi Thohir ISSUED HISTORY
2. Chia Ah Hoo Listing Trading
3. Christian Ariano Rachmat No. Type of Listing Shares Date Date
4. David Tendian 1. First Issue 11,139,331,000 16-Jul-08 16-Jul-08
5. Julius Aslan 2. Company Listing 20,846,631,000 16-Jul-08 16-Apr-09
6. M. Syah Indra Aman
7. Sandiaga S. Uno
8. Siswanto Prawiroatmodjo
AUDIT COMMITTEE
1. Palgunadi Tatit Setyawan
2. Irwandy Arif
3. Mamat Ma'mun
CORPORATE SECRETARY
Mahardika Putranto
HEAD OFFICE
Menara Karya 23rd Fl.
Jln. H.R. Rasuna Said, Blok X-5, Kav. 1 - 2
Jakarta - 12950
Phone : (021) 521-1265, 255-33040
Fax : (021) 579-44687, 579-44648
Homepage : www.adaro.com
Email : corsec@ptadaro.com
devindra.ratzarwin@ptadaro.com

TRADING ACTIVITIES
Adaro Energy Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
3,000 400 Jan-10 2,075 1,730 1,890 61,583 2,799,639 5,331,665 20
Feb-10 1,960 1,760 1,830 62,241 2,100,343 3,875,968 19
2,625 350 Mar-10 1,980 1,820 1,960 53,408 2,193,373 4,134,081 22
Apr-10 2,250 1,970 2,200 47,066 2,289,030 4,885,796 21
May-10 2,175 1,700 2,000 62,496 2,256,118 4,396,708 19
2,250 300
Jun-10 2,100 1,820 1,990 46,897 1,804,252 3,538,083 22
Jul-10 2,100 1,940 2,000 22,120 1,301,338 2,636,195 22
1,875 250
Aug-10 2,150 1,880 1,900 33,954 1,342,163 2,723,121 21
Sep-10 2,150 1,760 2,025 63,258 2,156,620 4,227,054 17
1,500 200
Oct-10 2,300 2,000 2,100 27,439 1,524,272 3,226,243 21
Nov-10 2,500 2,100 2,325 23,353 1,733,585 4,064,785 21
1,125 150 Dec-10 2,650 2,250 2,550 19,294 1,414,180 3,587,072 20
750 100 Jan-11 2,900 2,225 2,250 43,230 1,713,532 4,350,610 21

Feb-11 2,500 2,250 2,450 28,318 1,202,450 2,872,429 18
375 50 Mar-11 2,475 2,175 2,200 46,772 1,404,886 3,245,738 23
Apr-11 2,350 2,200 2,200 37,572 1,105,133 2,502,053 20
May-11 2,475 2,200 2,450 48,050 1,735,498 4,063,096 21
Jun-11 2,500 2,250 2,450 19,872 834,507 2,009,815 20
Jul-11 2,700 2,450 2,650 20,831 1,032,290 2,644,882 21
Aug-11 2,700 1,990 2,025 44,376 1,384,272 3,166,937 19
Sep-11 2,125 1,430 1,720 63,571 1,819,818 3,335,150 20
Closing Price*, Jakarta Composite Index (IHSG) and Oct-11 2,150 1,500 2,025 63,762 1,830,149 3,396,335 21
Mining Index Nov-11 2,150 1,830 1,910 41,895 1,180,537 2,322,064 22
January 2010 - July 2014 Dec-11 2,025 1,730 1,770 41,384 1,070,469 1,977,409 21
125%
Jan-12 1,860 1,750 1,830 36,837 999,140 1,807,345 21
100% 97.6% Feb-12 2,025 1,790 1,920 42,144 1,294,177 2,500,859 21
Mar-12 1,980 1,870 1,930 33,313 1,076,242 2,056,482 21
75% Apr-12 1,970 1,770 1,860 31,778 801,403 1,481,681 20
May-12 1,880 1,460 1,470 31,426 824,427 1,400,499 21
50% Jun-12 1,490 1,180 1,450 48,253 1,628,248 2,145,363 21
Jul-12 1,630 1,320 1,460 39,070 896,114 1,301,281 22
Aug-12 1,610 1,330 1,370 25,007 589,119 876,431 19
25%
Sep-12 1,610 1,350 1,500 26,552 550,208 825,189 20
Oct-12 1,490 1,340 1,370 25,135 973,400 1,379,202 22
-
Nov-12 1,430 1,320 1,340 23,953 651,960 899,730 20
Dec-12 1,610 1,320 1,590 28,273 1,065,599 1,578,648 18
-25%
-32.3%
-33.0% Jan-13 1,770 1,590 1,650 35,702 693,704 1,175,414 21
-50% Feb-13 1,680 1,550 1,570 29,234 578,305 922,195 20
Mar-13 1,580 1,250 1,310 34,568 1,179,303 1,701,990 19
-75% Apr-13 1,370 1,190 1,230 28,764 699,841 898,296 22
Jan 10 Jan 11 Jan 12 Jan 13 Jan 14 May-13 1,240 920 930 40,369 1,088,707 1,179,144 22
Jun-13 930 750 860 46,114 1,004,249 849,300 19
Jul-13 860 670 700 38,801 1,288,624 930,027 23
SHARES TRADED 2010 2011 2012 2013 Jul-14 Aug-13 940 640 930 42,185 1,653,523 1,307,578 17
Volume (Million Sh.) 22,915 16,314 11,350 13,864 9,272 Sep-13 1,030 870 900 45,303 1,566,310 1,494,923 21
Value (Billion Rp) 46,627 35,887 18,253 15,019 9,960 Oct-13 1,130 890 1,020 42,712 1,230,844 1,250,459 21
Frequency (Thou. X) 523 500 392 469 414 Nov-13 1,240 1,010 1,130 49,717 1,820,926 2,085,692 20
Days 245 247 246 244 137 Dec-13 1,250 1,040 1,090 35,467 1,059,797 1,223,837 19
Price (Rupiah) Jan-14 1,110 870 950 67,166 1,717,526 1,651,052 20

High 2,650 2,900 2,025 1,770 1,340 Feb-14 995 880 995 52,885 1,197,188 1,126,593 20
Low 1,700 1,430 1,180 640 870 Mar-14 1,040 945 980 59,759 1,369,759 1,357,397 20
Close 2,550 1,770 1,590 1,090 1,185 Apr-14 1,205 930 1,185 55,961 1,295,481 1,355,337 20
Close* 2,550 1,770 1,590 1,090 1,185 May-14 1,320 1,100 1,225 60,224 1,439,612 1,768,558 18
Jun-14 1,340 1,130 1,175 59,842 1,173,729 1,460,502 21
PER (X) 36.95 11.16 13.78 12.26 9.43 Jul-14 1,210 1,080 1,185 58,308 1,079,081 1,241,003 18
PER Industry (X) 17.69 16.17 8.49 19.30 4.45
PBV (X) 4.39 2.56 1.76 0.96 0.96

Cash & Cash Equivalents 5,459,971 5,067,851 4,838,559 8,354,692 11,227,173 87,500
Receivables 2,504,335 4,396,801 4,692,058 3,822,657 4,536,383

288,732 475,345 623,589 1,260,706 1,281,557 70,000
Inventories
Current Assets 10,200,290 11,765,957 13,672,171 16,820,685 19,210,772
52,500
Fixed Assets 8,810,252 12,988,087 17,106,385 20,930,154 20,241,793
Other Assets 72,947 125,873 96,226 248,811 266,418
35,000
Total Assets 40,600,921 51,315,458 64,714,116 82,623,566 82,622,270
Growth (%) 26.39% 26.11% 27.67% -0.002% 17,500

Long Term Liabilities 16,176,838 22,103,586 27,056,457 33,927,838 33,242,018 2010 2011 2012 2013 Jun-14
Growth (%) 32.77% 22.57% 21.45% -0.99%
39,203
Paid up Capital 3,198,596 3,198,596 3,198,596 3,198,596 3,198,596 39,630
Paid up Capital (Shares) 31,986 31,986 31,986 31,986 31,986

28,962
Par Value 100 100 100 100 100
31,546
Retained Earnings 5,376,617 8,542,056 10,314,612 14,940,038 15,912,965 22,146

23,461
Total Equity 18,576,441 22,146,078 28,962,172 39,202,687 39,630,472 18,576
Growth (%) 19.22% 30.78% 35.36% 1.09% 15,377
Total Revenues 24,689,333 36,157,789 35,996,469 40,308,692 20,265,193

Growth (%) 46.45% -0.45% 11.98%
-793
2010 2011 2012 2013 Jun-14
Cost of Revenues 16,957,291 23,205,121 25,914,314 31,238,880 15,086,649

Gross Profit 7,732,042 12,952,668 10,082,155 9,069,812 5,178,543
Expenses (Income) 957,764 1,313,246 1,994,321 2,514,135 856,609
Operating Profit 6,774,278 11,639,422 8,087,833 6,555,677 4,321,934 40,309
36,158 35,996
40,309
Growth (%) 71.82% -30.51% -18.94%

32,086
Other Income (Expenses) -1,724,360 -2,547,745 -1,186,122 -1,411,062 -664,028 24,689

20,265
Tax 2,668,668 4,085,207 3,195,132 2,331,558 1,602,003
15,640
Growth (%) 125.90% -25.96% -24.11%

7,417
Current Ratio (%) 176.06 166.52 157.23 177.19 197.04
5,006
Dividend (Rp) 30.35 - - - - 5,006
EPS (Rp) 69.37 156.03 116.50 88.70 62.83

3,707
BV (Rp) 580.77 692.37 905.47 1,225.62 1,239.00 3,985
DAR (X) 0.54 0.57 0.55 0.53 0.52 2,813

2,964
DER(X) 1.18 1.32 1.23 1.11 1.08 2,216 2,056

ROA (%) 5.46 9.76 5.73 3.40 2.49 1,943
ROE (%) 11.93 22.61 12.80 7.18 5.19

GPM (%) 31.32 35.82 28.01 22.50 25.55 921
OPM (%) 27.44 32.19 22.47 16.26 21.33

NPM (%) 8.98 13.85 10.30 6.98 10.14
-100
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 43.75 - - - -
Yield (%) 1.19 - - - -

COMPANY REPORT
AKRA
AKR CORPORINDO TBK.
Company Profile
PT AKR Corporindo Tbk. is an integrated supply chain solutions company that operates in
distribution of petroleum and basic chemicals, logistic services, manufacturing of sorbitol
and adhesive materials, and also coal mining and trading. By the end of 2013 the
Company’s extensive assets include sea port and river port in Indonesia; river ports in
China; tank terminals for petroleum and basic chemicals; self propelled oil barges; trucks;
warehouses; and other logistics equipment.
The Company focuses on creating value to its stakeholders, maintaining sustainable growth
and developing its operational excellence. The Company recorded CAGR 2009-2013 of 31%
for sales and revenues and 22% for profit for the year attributable to equity holders of the
parent entity. The share price outperformed with 508% growth during the past 5 years.
Dividend payout ratio is consistent above 30% in the last 5 years.
The year 2012 represents a new milestone. The Company issued bond in December
amounting Rp1.5 trillion which would be utilized for the Company’s working capital and for
loan and capital injection to the Company’s subsidiary to support new business evelopment
named Java Integrated Industrial and Port Estate.
The Company consistently applies good corporate governance (GCG) and socializes its
principles to the Company’s corporate citizens. The Company’s application of GCG has
gained international recognition through the awarding of Asia’s Icon on Corporate
Governance during Corporate Governance Asia Recognition Award 2013 in Hongkong.
August 2014
Disclaimer:

AKRA AKR Corporindo Tbk. [S]
Industry Sector : Trade, Services & Investment (9) Listed Shares : 3,903,441,500
Industry Sub Sector : Wholesale (Durable & Non-Durable Goods) (91) Market Capitalization : 17,175,142,600,000
53 | 17.2T | 0.34% | 75.73%
44 | 5.61T | 0.66% | 75.00%

Established Date : 28-Nov-1977 1. PT Arthakencana Rayatama 2,298,640,320 : 58.89%
Listing Date : 03-Oct-1994 2. Public (<5%) 1,604,801,180 : 41.11%
Under Writer IPO :
PT Lippo Securities DIVIDEND ANNOUNCEMENT
F/I
PT Raya Saham Registra Year Shares Dividend Cum Date Ex Date Date Date
Plaza Central Building 2nd Fl. 1995 80.00 27-Jan-95 30-Jan-95 06-Feb-95 28-Feb-95 I
Jln. Jend. Sudirman Kav. 47 - 48 Jakarta 12930 1994 50.00 11-Jul-95 12-Jul-95 20-Jul-95 11-Aug-95 F
Phone : (021) 252-5666 1995 80.00 17-Nov-95 20-Nov-95 28-Nov-95 18-Dec-95 I
Fax : (021) 252-5028 1995 10 : 6 26-Feb-96 27-Feb-96 06-Mar-96 29-Mar-96 B
1995 70.00 07-Jun-96 10-Jun-96 18-Jun-96 11-Jul-96 F
BOARD OF COMMISSIONERS 1996 50.00 23-Jun-97 24-Jun-97 01-Aug-97 26-Aug-97 F
1. Soegiarto Adikoesoemo 2002 25.00 03-Sep-03 04-Sep-03 08-Sep-03 19-Sep-03 F
2. I Nyoman Mastra *) 2003 50.00 28-Jun-04 29-Jun-04 01-Jul-04 14-Jul-04 F
3. Sabirin Saiman 2005 40.00 02-May-05 03-May-05 06-May-05 19-May-05
*) Independent Commissioners 2005 60.00 01-Sep-06 04-Sep-06 06-Sep-06 19-Sep-06 F
2006 65.00 27-Jun-07 28-Jun-07 02-Jul-07 16-Jul-07 F
BOARD OF DIRECTORS 2007 19.00 03-Jun-08 04-Jun-08 06-Jun-08 16-Jun-08 F
1. Haryanto Adikoesoemo 2008 21.00 09-Jun-09 10-Jun-09 12-Jun-09 19-Jun-09 F
2. Arief Budiman Utomo 2009 25.00 25-May-10 26-May-10 31-May-10 14-Jun-10 F
3. Bambang Soetiono Soedijanto 2010 30.00 19-Nov-10 22-Nov-10 24-Nov-10 09-Dec-10 I
4. Jimmy Tandyo 2010 135.00 11-Mar-11 14-Mar-11 16-Mar-11 29-Mar-11 I
5. Mery Sofi 2010 2.00 31-May-11 01-Jun-11 06-Jun-11 20-Jun-11 F
6. Nery Polim 2011 200.00 22-Aug-11 23-Aug-11 25-Aug-11 08-Sep-11 I
7. Suresh Vembu 2011 25.00 06-Jun-12 07-Jun-12 11-Jun-12 25-Jun-12 F
2012 40.00 26-Dec-12 27-Dec-12 02-Jan-13 16-Jan-13 I
AUDIT COMMITTEE 2012 65.00 31-May-13 03-Jun-13 05-Jun-13 20-Jun-13 F
1. I Nyoman Mastra 2013 50.00 18-Sep-13 19-Sep-13 23-Sep-13 04-Oct-13 I
2. Ngurah Gede 2013 65.00 05-Jun-14 06-Jun-14 10-Jun-14 24-Jun-14 F
3. Subarto Zaini 2014 50.00 09-Sep-14 10-Sep-14 12-Sep-14 26-Sep-14 I
CORPORATE SECRETARY ISSUED HISTORY

Harryati Utami Listing Trading
HEAD OFFICE 1. First Issue 15,000,000 03-Oct-94 03-Oct-94
Wisma AKR 7th - 8th Fl. 2. Company Listing 50,000,000 T: 03-Oct-94 : 06-May-95
Jln. Panjang No. 5, Kebon Jeruk 3. Bonus Shares 39,000,000 01-Apr-96 01-Apr-96
Jakarta 4. Stock Split 2,600,000,000 T: 30-Sep-96 : 27-Jul-07
Phone : (021) 531-1110 5. Right Issue 1,043,658,500 T: 20-Dec-04 : 16-Feb-10
Fax : (021) 531-1185, 531-1388, 531-1128 6. OPSI Conversion 18,292,500 T: 11-Apr-08 : 15-Oct-09
7. Opsi MSOP Conversion I, II & III 26,537,500 T: 09-Apr-10 : 13-Oct-10
Homepage : www.akr.co.id 8. Opsi MSOP Conversion I & III 447,500 T: 12-Apr-10 : 15-Apr-10
Email : harryati.utami@akr.co.id 9. Opsi MSOP Conversion II, III & IV 28,607,500 T: 13-Apr-11 : 14-Apr-11
tami@akr.co.id 10. Opsi MSOP Conversion II, III, IV 432,500 12-Oct-11 12-Oct-11
11. Opsi MSOP Conversion IV 195,000 T: 13-Oct-11 : 12-Apr-13
12. Opsi MSOP Conversion III, IV, V 28,907,500 09-Apr-12 09-Apr-12
13. Opsi MSOP Conversion III 550,000 10-Apr-12 10-Apr-12
14. Opsi MSOP Conversion IV, V 29,099,000 T: 09-Apr-13 : 10-Apr-13
15. MSOP Conv. V (2011), I (2012), I (2013) 22,714,000 T: 04-Apr-14 : 11-Apr-14

TRADING ACTIVITIES
AKR Corporindo Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
6,000 480 Jan-10 1,330 1,120 1,180 12,300 378,735 467,942 20
Feb-10 1,200 980 1,020 9,796 730,443 772,002 19
5,250 420 Mar-10 1,040 900 930 11,390 404,402 401,185 22
Apr-10 1,050 880 1,030 18,201 472,646 461,177 21
May-10 1,040 910 970 9,782 303,828 297,455 19
4,500 360
Jun-10 1,150 950 1,060 9,030 305,999 321,697 22
Jul-10 1,200 990 1,190 10,576 344,118 370,729 22
3,750 300
Aug-10 1,400 1,190 1,230 10,505 297,345 388,187 21
Sep-10 1,540 1,220 1,510 15,621 365,415 507,625 17
3,000 240
Oct-10 1,590 1,320 1,510 21,910 540,611 790,741 21
Nov-10 1,720 1,450 1,460 18,191 396,989 629,461 21
2,250 180 Dec-10 1,820 1,460 1,730 17,921 319,477 532,404 20
1,500 120 Jan-11 1,730 1,390 1,440 21,826 383,691 600,618 21

Feb-11 1,630 1,350 1,560 13,847 227,243 339,089 18
750 60 Mar-11 1,660 1,420 1,470 22,274 343,580 527,701 23
Apr-11 1,720 1,450 1,710 21,474 394,286 615,401 20
May-11 1,840 1,580 1,840 19,868 352,872 589,727 21
Jun-11 2,200 1,770 2,125 13,270 258,481 495,557 20
Jul-11 3,125 2,100 3,050 24,160 378,575 948,766 21
Aug-11 3,100 2,450 2,650 33,390 463,554 1,302,769 19
Sep-11 2,775 2,150 2,400 21,997 339,598 863,164 20
Trade, Sevices and Investment Index Nov-11 3,250 2,750 2,850 24,988 317,985 950,762 22
January 2010 - July 2014 Dec-11 3,075 2,900 3,025 25,252 339,968 1,011,851 21
420%
Jan-12 3,650 3,000 3,650 39,838 414,607 1,404,452 21
360% Feb-12 3,900 3,500 3,600 22,274 284,426 1,042,116 21
Mar-12 4,425 3,550 4,300 24,831 311,040 1,231,547 21
300% Apr-12 4,350 4,000 4,125 23,979 243,621 1,019,079 20
280.4% May-12 4,200 3,325 3,375 23,693 271,922 1,014,240 21
240% Jun-12 3,775 3,150 3,475 21,238 224,399 789,842 21
225.5% Jul-12 3,950 3,500 3,650 27,387 311,055 1,151,428 22
Aug-12 3,750 3,325 3,500 18,714 297,106 1,049,276 19
180%
Sep-12 4,275 3,450 4,250 20,476 278,456 1,072,492 20
Oct-12 4,550 3,975 4,450 18,786 216,605 931,478 22
120%
Nov-12 4,700 4,225 4,300 17,677 217,527 962,649 20
97.6%
Dec-12 4,325 3,950 4,150 16,535 226,058 935,688 18
60%
Jan-13 4,200 3,775 3,875 23,466 315,427 1,245,106 21

- Feb-13 4,500 3,825 4,475 19,230 218,111 902,451 20
Mar-13 5,550 4,425 5,000 14,741 189,877 947,949 19
-60% Apr-13 5,350 4,850 5,150 17,228 166,257 851,310 22
Jun-13 6,100 4,625 5,300 31,480 288,147 1,525,542 19
Jul-13 5,450 4,325 4,325 26,256 227,366 1,090,451 23
SHARES TRADED 2010 2011 2012 2013 Jul-14 Aug-13 4,950 3,475 3,975 22,430 245,307 1,040,139 17
Volume (Million Sh.) 4,860 4,083 3,297 2,637 1,227 Sep-13 4,650 3,500 4,000 22,308 275,681 1,093,424 21
Days 245 247 246 244 137 Dec-13 4,975 4,350 4,375 14,061 129,874 616,656 19
Price (Rupiah) Jan-14 4,820 4,175 4,400 32,248 151,840 680,984 20

High 1,820 3,250 4,700 6,100 5,200 Feb-14 4,625 4,200 4,560 34,928 187,729 840,663 20
Low 880 1,350 3,000 3,475 4,125 Mar-14 5,200 4,490 4,835 30,860 182,352 874,778 20
Close 1,730 3,025 4,150 4,375 4,400 Apr-14 5,200 4,625 4,770 34,583 161,251 781,369 20
Close* 1,730 3,025 4,150 4,375 4,400 May-14 4,750 4,125 4,125 30,225 175,805 789,077 18
Jun-14 4,640 4,175 4,330 26,447 178,895 790,700 21
PER (X) 21.10 22.62 21.15 24.25 22.84 Jul-14 4,750 4,255 4,400 26,710 188,850 855,524 18
PER Industry (X) 21.27 16.89 19.08 15.43 18.07
PBV (X) 2.75 3.23 3.80 3.16 3.04

Public Accountant : Purwantono, Suherman & Surja (Member of Ernst & Young Global Limited)
Cash & Cash Equivalents 691,848 1,329,789 1,884,943 820,065 918,371 15,000
Receivables 1,685,658 2,189,012 3,224,397 4,351,773 4,375,819

1,424,614 1,250,135 1,415,169 1,823,246 1,755,648 12,000
Inventories
Current Assets 4,028,178 5,239,361 7,414,601 7,723,315 7,401,051
9,000
Fixed Assets 3,037,893 2,437,215 3,177,350 4,226,692 4,233,217
Other Assets 54,569 40,371 24,372 20,218 21,041
6,000
Total Assets 7,665,590 8,308,244 11,787,525 14,633,141 14,821,012
Growth (%) 8.38% 41.88% 24.14% 1.28% 3,000

Long Term Liabilities 962,539 873,528 2,435,399 2,676,688 2,515,709 2010 2011 2012 2013 Jun-14
Growth (%) -1.52% 60.09% 22.33% -1.07%
5,363
Paid up Capital 379,294 382,199 385,144 388,073 390,344 5,650

4,210
Par Value 100 100 100 100 100
4,497
3,575
3,345
Total Equity 2,386,407 3,574,704 4,209,740 5,363,161 5,650,000 2,386

Growth (%) 49.79% 17.76% 27.40% 5.35% 2,192
Total Revenues 12,194,997 18,805,950 21,673,954 22,337,928 11,258,182

Growth (%) 54.21% 15.25% 3.06%
-113
2010 2011 2012 2013 Jun-14
Cost of Revenues 11,235,313 17,787,552 20,412,678 20,970,288 10,457,451

Gross Profit 959,684 1,018,398 1,261,276 1,367,641 800,730
Expenses (Income) 498,761 302,869 430,920 600,059 307,592
Operating Profit 460,923 715,529 830,356 767,582 493,138 21,674 22,338
22,338
Growth (%) 55.24% 16.05% -7.56% 18,806

17,781
Other Income (Expenses) -40,832 24,443 -20,673 -37,581 -29,134

420,091 739,972 809,682 733,053 464,004 12,195
Income before Tax 13,224
11,258
Tax 80,999 145,838 190,849 117,426 99,928
Profit for the period 339,092 2,284,080 618,833 615,627 364,076
8,667
Growth (%) 573.59% -72.91% -0.52%

4,110
Period Attributable 310,916 2,293,427 649,314 648,250 375,962 -447
Comprehensive Income 311,166 2,331,631 755,870 980,588 285,954 2010 2011 2012 2013 Jun-14
Comprehensive Attributable 290,721 2,339,138 775,371 969,250 301,287
Current Ratio (%) 104.79 135.73 144.19 117.14 111.21
2,284
Dividend (Rp) 167.00 225.00 105.00 115.00 50.00 2,284
EPS (Rp) 81.97 600.06 168.59 167.04 96.32

BV (Rp) 629.17 935.30 1,093.03 1,382.00 1,447.44 1,818
DAR (X) 0.63 0.57 0.64 0.63 0.62

1,352
DER(X) 2.01 1.32 1.80 1.73 1.62

ROA (%) 4.42 27.49 5.25 4.21 2.46 886
619 616
ROE (%) 14.21 63.90 14.70 11.48 6.44
339 364
GPM (%) 7.87 5.42 5.82 6.12 7.11 420
OPM (%) 3.78 3.80 3.83 3.44 4.38

NPM (%) 2.78 12.15 2.86 2.76 3.23
-46
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 203.73 37.50 62.28 68.84 51.91
Yield (%) 9.65 7.44 2.53 2.63 1.15

COMPANY REPORT
ANTM
ANEKA TAMBANG (PERSERO) TBK.
Company Profile
ANTAM is a vertically integrated, export-oriented, diversified mining and metals company.

With operations spread throughout the mineral-rich Indonesian archipelago, ANTAM
undertakes all activities from exploration, excavation, processing through to marketing of
nickel ore, ferronickel, gold, silver, bauxite and coal. The company has long term loyal blue
chip customers in Europe and Asia. Due to the vastness of the company's licensed
exploration areas as well as its known large holdings of high quality reserves and resources,
ANTAM has formed several joint ventures with international partners to profitably develop
geological ore bodies into profitable mines.
The company generates healthy cash flows, and has prudent capital management. The
company became a limited liability state-controlled company in 1968 with the merger of
several single commodity mining companies.
ANTAM's objectives are centered on increasing shareholder value. The company's main
objective is to enhance shareholder value by lowering costs while profitably expanding
operations in a sustainable manner. The strategy maintains focus on ANTAM's core
business of nickel, gold and bauxite with a view to maximizing output in order to increase
cash generation and lower unit costs. ANTAM plans to sustain growth through reliable
expansion projects, strategic alliances, increasing quality reserves and adding value by
moving away from selling raw materials and increasing processing activities. ANTAM will
also maintain financial strength. By generating as much cash as possible ANTAM ensures it
will have sufficient funds to repay debts, finance continued growth and pay dividends.
Lowering costs means operating more efficiently and productively, as well as increasing
capacity to benefit from economies of scale.
As a mining company, ANTAM realizes its operations have a direct impact on the
surrounding environment and nearby communities. Environmental sustainability and
community development are not viewed merely as being socially responsible, but also as
risk management. The characteristic of mining in Indonesia is that it plays a big role in the
development of remote areas and so given the mine's large role in community
development it is crucial to operate not as an outsider but as a member of the community
and a good corporate citizen and thereby reduce the likelihood of business interruptions.
ANTAM believes environmental sustainability and proactive community development are
necessary to successfully operate a mine. Serious attention to natural conservation efforts
and proactive participation in community development are one of the keys to successful
mining activities.
August 2014
Disclaimer:

ANTM Aneka Tambang (Persero) Tbk. [S]
Industry Sub Sector : Metal And Mineral Mining (23) Market Capitalization : 12,113,843,882,500
73 | 12.1T | 0.24% | 81.36%
45 | 5.38T | 0.64% | 75.64%

Established Date : 05-Jul-1968 1. Negara Republik Indonesia 6,200,000,000 : 65.00%
Listing Date : 27-Nov-1997 2. Public (<5%) 3,338,459,750 : 35.00%
Under Writer IPO :
PT Danareksa Sekuritas DIVIDEND ANNOUNCEMENT
PT Bahana Securities Bonus Cash Recording Payment
F/I
PT Pentasena Arthasentosa Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1997 11.00 29-Jun-98 30-Jun-98 09-Jul-98 06-Aug-98 F
PT Datindo Entrycom 1997 11.59 01-Oct-98 02-Oct-98 12-Oct-98 09-Nov-98 F
Puri Datindo - Wisma Sudirman 1998 50.00 29-Jun-99 30-Jun-99 08-Jul-99 06-Aug-99 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 1998 53.87 04-Oct-99 05-Oct-99 13-Oct-99 10-Nov-99 F
Phone : (021) 570-9009 1999 79.19 05-Jun-00 06-Jun-00 14-Jun-00 28-Jun-00 F
2000 75.66 23-Oct-01 24-Oct-01 29-Oct-01 12-Nov-01 F
BOARD OF COMMISSIONERS 2001 100 : 55 10-Jul-02 11-Jul-02 17-Jul-02 30-Jul-02 B
1. R. Sukhyar 2001 47.10 05-Aug-02 06-Aug-02 09-Aug-02 23-Aug-02 F
2. Buyung Zaelani 2001 46.77 28-Oct-02 29-Oct-02 01-Nov-02 15-Nov-02 F
3. Hikmahanto Juwana *) 2002 34.42 17-Jul-03 18-Jul-03 21-Jul-03 05-Aug-03 F
4. Laode M. Kamaluddin *) 2003 38.60 18-Jun-04 21-Jun-04 23-Jun-04 30-Jun-04 F
5. Robert A. Simanjuntak 2004 19.60 23-Dec-04 27-Dec-04 29-Dec-04 10-Jan-05 I
6. Velix Vernando 2005 128.48 20-Jun-05 21-Jun-05 23-Jun-05 30-Jun-05
*) Independent Commissioners 2005 150.05 22-Jun-06 23-Jun-06 27-Jun-06 11-Jul-06 F
2006 325.58 21-Jun-07 22-Jun-07 26-Jun-07 06-Jul-07 F
BOARD OF DIRECTORS 2007 215.23 17-Jul-08 18-Jul-08 22-Jul-08 01-Aug-08 F
1. Tato Miraza 2008 57.47 17-Jun-09 18-Jun-09 22-Jun-09 03-Jul-09 F
2. Djaja Masurhun Tambunan 2009 25.38 28-Jun-10 29-Jun-10 01-Jul-10 15-Jul-10 F
3. Hari Widjajanto 2010 70.71 06-Jul-11 07-Jul-11 11-Jul-11 25-Jul-11 F
4. Hendra Santika 2011 90.99 27-Jun-12 28-Jun-12 02-Jul-12 16-Jul-12 F
5. I Made Surata 2012 47.09 29-May-13 30-May-13 03-Jun-13 18-Jun-13 F
6. Tedy Badrujaman 2013 9.67 29-Apr-14 30-Apr-14 05-May-14 20-May-14 F
AUDIT COMMITTEE ISSUED HISTORY

1. Laode M. Kamaluddin Listing Trading
2. Mursyid Amal No. Type of Listing Shares Date Date
3. Rukmana Nugraha Adhi 1. Negara RI (Seri A) 1 27-Nov-97 16-Jun-10
4. Zaelani 2. First Issue 430,769,000 27-Nov-97 27-Nov-97
3. Company Listing 799,999,999 27-Nov-97 31-Jul-98
CORPORATE SECRETARY 4. Bonus Shares 676,922,950 30-Jul-02 30-Jul-02
Tri Hartono 5. Stock Split 7,630,767,800 12-Jul-07 12-Jul-07
HEAD OFFICE
Aneka Tambang Building
Jln. Letjen TB. Simatupang No. 1
Jakarta - 12530
Phone : (021) 780-5119, 789-1234, 781-2635
Fax : (021) 781-2822, 789-1224
Homepage : www.antam.com
Email : corsec@antam.com
eko.endriawan@antam.com

TRADING ACTIVITIES
Aneka Tambang (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,800 480 Jan-10 2,400 2,075 2,125 31,843 564,544 1,264,447 20
Feb-10 2,175 1,920 2,075 30,327 452,733 922,711 19
2,450 420 Mar-10 2,425 2,050 2,400 32,154 729,147 1,623,800 22
Apr-10 2,625 2,275 2,450 36,673 866,802 2,139,120 21
May-10 2,450 1,650 2,025 50,925 912,283 1,821,764 19
2,100 360
Jun-10 2,100 1,830 1,940 33,404 605,372 1,195,948 22
Jul-10 2,150 1,880 2,100 29,825 533,141 1,068,922 22
1,750 300
Aug-10 2,225 2,000 2,075 24,506 575,766 1,209,829 21
Sep-10 2,400 2,075 2,375 27,358 601,750 1,366,342 17
1,400 240
Oct-10 2,675 2,325 2,550 33,089 767,726 1,918,656 21
Nov-10 2,775 2,250 2,325 27,896 590,239 1,530,953 21
1,050 180 Dec-10 2,525 2,225 2,450 20,484 273,930 658,453 20
700 120 Jan-11 2,600 2,175 2,175 28,538 436,431 1,033,684 21

Feb-11 2,325 2,150 2,200 15,685 213,602 473,543 18
350 60 Mar-11 2,325 2,100 2,300 21,509 306,874 680,896 23
Apr-11 2,425 2,250 2,275 16,867 228,795 531,465 20
May-11 2,300 2,100 2,150 21,175 311,637 680,779 21
Jun-11 2,175 1,990 2,075 19,246 270,411 562,556 20
Jul-11 2,150 1,970 2,000 20,056 302,923 621,732 21
Aug-11 2,050 1,720 1,880 31,263 392,000 757,220 19
Sep-11 1,970 1,400 1,500 31,534 301,008 491,865 20
Closing Price*, Jakarta Composite Index (IHSG) and Oct-11 1,850 1,380 1,790 42,948 621,139 1,017,405 21
Mining Index Nov-11 1,800 1,580 1,640 27,116 302,323 510,452 22
January 2010 - July 2014 Dec-11 1,690 1,580 1,620 13,006 140,166 232,074 21
125%
Jan-12 1,900 1,610 1,880 21,460 294,174 514,604 21
100% 97.6% Feb-12 2,025 1,850 1,960 19,018 218,301 421,270 21
Mar-12 1,950 1,760 1,800 18,690 202,265 372,554 21
75% Apr-12 1,880 1,690 1,720 20,048 217,725 386,105 20
May-12 1,740 1,130 1,150 36,598 698,455 899,892 21
50% Jun-12 1,420 1,120 1,340 44,270 961,176 1,208,483 21
Jul-12 1,430 1,250 1,280 19,719 276,788 374,594 22
Aug-12 1,310 1,200 1,240 13,345 113,522 141,641 19
25%
Sep-12 1,430 1,220 1,350 25,003 318,219 429,649 20
Oct-12 1,380 1,260 1,280 18,561 182,987 239,942 22
-
Nov-12 1,310 1,220 1,240 12,016 107,020 135,154 20
Dec-12 1,310 1,220 1,280 14,100 229,189 290,864 18
-25%
-33.0%
Jan-13 1,450 1,280 1,360 22,216 334,911 459,571 21
-44.8%
-50% Feb-13 1,410 1,260 1,290 21,263 276,248 370,664 20
Mar-13 1,410 1,270 1,370 21,935 369,713 498,521 19
-75% Apr-13 1,460 1,340 1,380 29,241 379,964 531,390 22
Jun-13 1,280 960 1,000 19,890 222,828 239,560 19
Jul-13 1,320 930 1,160 35,090 484,551 558,097 23
Volume (Million Sh.) 7,473 3,827 3,820 4,137 4,750 Sep-13 1,540 1,290 1,420 26,297 466,526 670,454 21
Days 245 247 246 244 137 Dec-13 1,300 990 1,090 25,778 383,286 449,913 19
Price (Rupiah) Jan-14 1,110 950 1,030 43,472 652,147 670,288 20

High 2,775 2,600 2,025 1,620 1,290 Feb-14 1,080 995 1,040 34,919 573,538 597,164 20
Low 1,650 1,380 1,120 930 950 Mar-14 1,190 1,025 1,135 53,411 1,188,495 1,334,140 20
Close 2,450 1,620 1,280 1,090 1,270 Apr-14 1,265 1,065 1,175 38,135 798,966 930,016 20
Close* 2,450 1,620 1,280 1,090 1,270 May-14 1,290 1,140 1,200 37,606 849,434 1,038,684 18
Jun-14 1,210 1,070 1,090 20,978 284,324 330,285 21
PER (X) 13.88 8.03 4.08 22.41 -9.48 Jul-14 1,270 1,085 1,270 24,346 403,327 476,916 18
PER Industry (X) 17.69 16.17 8.49 19.30 4.45
PBV (X) 2.44 1.43 0.95 0.82 1.00

Receivables 1,693,318 1,347,420 1,846,918 1,189,692 639,360

1,229,283 1,687,897 1,449,968 2,445,934 2,201,539 18,000
Inventories
Current Assets 7,513,512 9,108,020 7,646,851 7,080,437 5,987,046
13,500
Fixed Assets 2,822,660 2,980,743 4,663,449 6,700,156 7,501,483
Other Assets 72,795 34,688 61,874 72,239 75,540
9,000
Total Assets 12,218,890 15,201,235 19,708,541 21,865,117 20,727,342
Growth (%) 24.41% 29.65% 10.94% -5.20% 4,500
Current Liabilities 1,938,448 855,830 3,041,406 3,855,512 3,493,013 -

Long Term Liabilities 696,891 3,573,362 3,834,819 5,216,118 5,171,659 2010 2011 2012 2013 2014
Growth (%) 68.07% 55.25% 31.93% -4.49%
Authorized Capital 3,800,000 3,800,000 3,800,000 3,800,000 3,800,000 12,832 12,793
Paid up Capital 953,846 953,846 953,846 953,846 953,846 12,063
10,772
9,584
Par Value 100 100 100 100 100
10,215

7,597
Total Equity 9,583,550 10,772,044 12,832,316 12,793,488 12,062,670

Growth (%) 12.40% 19.13% -0.30% -5.71% 4,979
Total Revenues 8,744,300 10,346,433 10,449,886 11,298,322 3,986,717

Growth (%) 18.32% 1.00% 8.12%
-257
2010 2011 2012 2013 2014
Cost of Revenues 5,807,220 7,318,735 8,427,158 9,682,521 3,725,893

Gross Profit 2,937,080 3,027,698 2,022,728 1,615,801 260,825
Expenses (Income) 968,494 1,014,820 1,126,864 1,194,769 404,863
Operating Profit 1,968,586 2,012,878 895,864 421,032 -144,038 11,298
11,298
10,346 10,450
Growth (%) 2.25% -55.49% -53.00%
8,744
8,993
Other Income (Expenses) 304,038 555,903 2,999,631 -553,962 -532,130

Income before Tax 2,272,624 2,568,781 3,895,495 -132,930 -676,168 6,689
Tax 597,699 640,889 902,379 -542,878 -37,494

3,987
Profit for the period 1,674,924 1,927,892 2,993,116 409,947 -638,674
4,384
Growth (%) 15.10% 55.25% -86.30%

2,079
Period Attributable 1,683,400 1,927,890 2,993,115 409,944 -638,675 -226
Comprehensive Income 1,686,940 1,924,739 2,989,025 410,139 -638,580 2010 2011 2012 2013 2014
Comprehensive Attributable 1,695,415 1,924,737 2,989,024 410,135 -638,581
Current Ratio (%) 387.60 1,064.23 251.42 183.64 171.40
2,993
Dividend (Rp) 70.71 90.99 47.09 9.67 -
EPS (Rp) 176.49 202.12 313.79 42.98 -66.96
BV (Rp) 1,004.73 1,129.33 1,345.32 1,341.25 1,264.63 2,383
1,928
DAR (X) 0.22 0.29 0.35 0.41 0.42 1,675
1,772
DER(X) 0.27 0.41 0.54 0.71 0.72

ROA (%) 13.71 12.68 15.19 1.87 -3.08 1,161
ROE (%) 17.48 17.90 23.32 3.20 -5.29

410
GPM (%) 33.59 29.26 19.36 14.30 6.54 551
OPM (%) 22.51 19.45 8.57 3.73 -3.61 2014

NPM (%) 19.15 18.63 28.64 3.63 -16.02
-60
2010 2011 2012 2013

Payout Ratio (%) 40.07 45.02 15.01 22.50 -
Yield (%) 2.89 5.62 3.68 0.89 -

COMPANY REPORT
ASII
ASTRA INTERNATIONAL TBK.
Company Profile
PT Astra International Tbk. was established in 1957 as PT Astra International Incorporated.

In 1990, the company changed its name to PT Astra International Tbk.
The scope of the company’s activities as set out in its Articles of Association are to engage
in general trading, industry, mining, transportation, agriculture, construction and
consultancy services. The subsidiaries’ main activities are the assembly and distribution of
automobiles, motorcycles and related spare parts, heavy equipment sales and rentals,
mining and related services, development of plantation, financial services, infrastructure,
and information technology.
The Companys’s largest shareholder is Jardine Cycle & Carriage Ltd is a subsidiary of Jardine
Maheson Holdings Ltd, a company incorporated in Bermuda.
As at 30 June 2014, the Company and its subsidiaries had 217,274 employees.
August 2014
Disclaimer:

ASII Astra International Tbk. [S]
Industry Sector : Miscellaneous Industry (4) Listed Shares : 40,483,553,140
Industry Sub Sector : Automotive And Components (42) Market Capitalization : 312,735,448,006,500
1 | 312.7T | 6.19% | 6.19%
2 | 48.1T | 5.69% | 12.26%

Established Date : 20-Feb-1957 1. Jardine Cycle & Carriage Limited 20,276,860,040 : 50.09%
Listing Date : 04-Apr-1990 2. Public (<5%) 20,206,693,100 : 49.91%
Under Writer IPO :
F/I
Plaza Central Building 2nd Fl. 1990 100.00 05-Nov-90 06-Nov-90 13-Nov-90 27-Nov-90 I
Jln. Jend. Sudirman Kav. 47 - 48 Jakarta 12930 1990 150.00 02-May-91 03-May-91 13-May-91 10-Jun-91 F
Fax : (021) 252-5028 1991 125.00 17-Jun-92 18-Jun-92 25-Jun-92 24-Jul-92 F
1992 100.00 01-Jul-93 02-Jul-93 09-Jul-93 09-Aug-93 F
BOARD OF COMMISSIONERS 1993 225.00 13-Jun-94 14-Jun-94 21-Jun-94 21-Jul-94 F
1. Budi Setiadharma 1993 1:3 29-Jul-94 01-Aug-94 08-Aug-94 07-Sep-94 F
2. Anthony John Liddell Nightingale 1994 80.00 22-Jun-95 23-Jun-95 03-Jul-95 31-Jul-95 F
3. Benjamin William Keswick 1995 90.00 25-Jun-96 26-Jun-96 04-Jul-96 31-Jul-96 F
4. Chiew Sin Cheok 1996 120.00 30-Jun-97 01-Jul-97 09-Jul-97 29-Jul-97 F
5. David Alexander Newbigging 2003 50.00 01-Dec-03 02-Dec-03 04-Dec-03 18-Dec-03 I
6. Erry Firmansyah *) 2003 170.00 28-Jun-04 29-Jun-04 01-Jul-04 14-Jul-04 F
7. Hisayuki Inoue *) 2004 100.00 01-Nov-04 02-Nov-04 04-Nov-04 12-Nov-04 F
8. Jonathan Chang 2005 270.00 16-Jun-05 17-Jun-05 21-Jun-05 04-Jul-05
9. Mark Spencer Greenberg 2005 100.00 09-Nov-05 10-Nov-05 14-Nov-05 24-Nov-05 I
10. Sidharta Utama *) 2005 340.00 15-Jun-06 16-Jun-06 20-Jun-06 04-Jul-06 F
11. Soemadi Djoko Moerdjono Brotodiningrat *) 2006 150.00 20-Oct-06 30-Oct-06 01-Nov-06 15-Nov-06 I
2007 160.00 29-Oct-07 30-Oct-07 01-Nov-07 15-Nov-07 I
BOARD OF DIRECTORS 2008 300.00 28-Oct-08 29-Oct-08 31-Oct-08 14-Nov-08 I
1. Prijono Sugiarto 2008 570.00 17-Jun-09 18-Jun-09 22-Jun-09 03-Jul-09 F
2. Bambang Widjanarko Santoso 2009 830.00 16-Jun-10 17-Jun-10 21-Jun-10 05-Jul-10 F
3. Djoko Pranoto 2010 470.00 27-Oct-10 28-Oct-10 01-Nov-10 15-Nov-10 I
4. Gunawan Geniusahardja 2011 600.00 26-Oct-11 27-Oct-11 31-Oct-11 14-Nov-11 I
5. Johannes Loman 2011 1,380.00 16-May-12 21-May-12 23-May-12 06-Jun-12 F
6. Simon Collier Dixon 2012 66.00 18-Oct-12 19-Oct-12 23-Oct-12 07-Nov-12 I
7. Sudirman Maman Rusdi 2012 150.00 20-May-13 21-May-13 23-May-13 07-Jun-13 F
8. Suparno Djasmin 2013 64.00 10-Oct-13 11-Oct-13 17-Oct-13 31-Oct-13 I
9. Widya Wiryawan 2013 152.00 22-May-14 23-May-14 28-May-14 12-Jun-14 F
2014 64.00 14-Oct-14 15-Oct-14 17-Oct-14 31-Oct-14 I
AUDIT COMMITTEE
1. Soemadi Djoko Moerdjono Brotodiningrat ISSUED HISTORY
2. Chiew Sin Cheok Listing Trading
3. Harry Wiguna No. Type of Listing Shares Date Date
4. Inget Sembiring 1. First Issue 30,000,000 04-Apr-90 04-Apr-90
2. Partial Listing 24,805,000 T: 04-Apr-90 : 04-Oct-90
CORPORATE SECRETARY 3. Company Listing 184,893,000 T: 18-Dec-91 : 02-Jan-92
Gita Tiffany Boer 4. Koperasi 2,500,000 T: 18-Dec-91 : 31-Dec-99
5. Right Issue 1,453,219,775 T: 03-Jan-94 : 21-Jan-03
HEAD OFFICE 6. Bonus Shares 871,912,800 08-Sep-94 08-Sep-94
AMDI Building 7. CB Conversion 280,837 T: 12-Mar-97 : 07-Aug-97
Jln. Gaya Motor Raya No. 8 Sunter 8. Stock Split 37,598,029,063 T: 01-Sep-97 : 05-Jun-12
Jakarta 9. Right Conversion 262,168,650 T: 24-Apr-00 : 19-Jan-04
Phone : (021) 653-10418 10. Option I 8,637,003 T: 16-Oct-00 : 16-Feb-01
Fax : (021) 653-04957 11. Option I Conversion 16,203,924 T: 31-Jul-01 : 26-Apr-02
12. Option II Conversion 30,903,088 T: 26-Apr-02 : 25-May-04
Homepage : www.astra.co.id
Email : gita.tiffanyboer@ai.astra.co.id

TRADING ACTIVITIES
Astra International Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
10,000 240 Jan-10 36,500 33,200 35,950 22,946 85,776 3,000,682 20
Feb-10 37,050 32,750 36,250 18,048 96,912 3,389,851 19
8,750 210 Mar-10 44,050 35,900 41,900 21,483 114,202 4,525,172 22
Apr-10 48,150 41,900 47,150 28,903 106,447 4,732,781 21
May-10 47,150 36,050 43,150 47,944 155,094 6,330,370 19
7,500 180
Jun-10 50,250 41,950 48,300 31,878 99,163 4,509,862 22
Jul-10 52,800 45,900 50,700 26,514 88,613 4,334,658 22
6,250 150
Aug-10 51,150 46,250 47,600 43,255 117,841 5,657,856 21
Sep-10 60,750 47,700 56,700 30,503 88,766 4,847,381 17
5,000 120
Oct-10 60,200 55,500 57,000 34,859 84,089 4,815,487 21
Nov-10 58,400 51,750 51,900 38,884 101,694 5,647,237 21
3,750 90 Dec-10 54,900 48,800 54,550 37,913 127,743 6,712,077 20
2,500 60 Jan-11 55,050 45,250 48,900 64,822 188,808 9,245,116 21

Feb-11 53,450 47,400 52,050 38,264 146,051 7,289,652 18
1,250 30 Mar-11 58,250 52,300 57,000 40,364 99,865 5,492,743 23
Apr-11 58,500 53,600 56,150 35,963 91,805 5,134,338 20
May-11 62,150 55,800 58,750 31,103 79,319 4,668,750 21
Jun-11 64,250 55,950 63,550 29,158 74,147 4,395,238 20
Jul-11 75,950 64,600 70,500 35,960 84,447 5,852,767 21
Aug-11 72,750 60,850 66,150 67,327 133,636 9,085,095 19
Sep-11 71,800 55,000 63,650 64,076 121,029 7,758,524 20
Miscellaneous Industry Index Nov-11 72,000 65,500 70,900 40,280 67,618 4,676,338 22
January 2010 - July 2014 Dec-11 75,000 68,300 74,000 33,641 57,371 4,137,042 21
140%
Jan-12 79,650 73,500 78,900 31,100 60,335 4,672,194 21
120% 119.5% Feb-12 79,200 67,100 70,850 68,125 130,669 9,466,255 21
118.8%
Mar-12 74,200 68,750 73,950 48,766 83,919 5,984,168 21
100% Apr-12 77,100 70,650 71,000 37,681 68,944 5,052,940 20
97.6%
May-12 74,250 64,200 64,300 46,178 90,988 6,242,152 21
80% Jun-12 64,200 6,400 6,850 61,324 816,809 6,070,144 21
Jul-12 7,100 6,250 7,000 65,520 943,478 6,342,540 22
Aug-12 7,400 6,600 6,750 44,874 635,813 4,486,738 19
60%
Sep-12 7,550 6,700 7,400 41,289 694,972 5,034,167 20
Oct-12 8,300 7,250 8,050 47,388 931,778 7,387,900 22
40%
Nov-12 8,000 7,200 7,250 59,594 832,310 6,351,667 20
Dec-12 7,700 6,800 7,600 58,107 918,874 6,627,662 18
20%
Jan-13 7,900 7,300 7,350 56,816 830,431 6,337,529 21

- Feb-13 8,000 7,400 7,950 39,847 683,833 5,281,553 20
Mar-13 8,300 7,500 7,900 54,594 849,305 6,681,437 19
-20% Apr-13 8,000 7,150 7,350 52,759 694,670 5,273,240 22
Jan 10 Jan 11 Jan 12 Jan 13 Jan 14 May-13 7,550 6,900 7,050 62,249 1,230,559 8,777,900 22
Jun-13 7,200 6,150 7,000 73,759 1,015,404 6,914,932 19
Jul-13 6,950 6,300 6,500 50,329 667,841 4,413,435 23
Value (Billion Rp) 58,503 74,318 73,719 66,334 48,081 Oct-13 7,250 6,300 6,650 54,573 553,688 3,722,910 21
Frequency (Thou. X) 383 532 610 669 572 Nov-13 6,850 6,150 6,250 54,611 662,358 4,332,899 20
Days 245 247 246 244 137 Dec-13 6,850 6,050 6,800 41,591 490,150 3,116,581 19
Price (Rupiah) Jan-14 7,400 6,250 6,425 86,235 784,137 5,339,224 20

High 60,750 75,950 79,650 8,300 8,050 Feb-14 7,000 6,225 6,950 81,243 984,624 6,596,656 20
Low 32,750 45,250 6,250 5,100 6,225 Mar-14 8,000 6,725 7,375 94,022 1,300,924 9,611,270 20
Close 54,550 74,000 7,600 6,800 7,725 Apr-14 8,050 7,350 7,425 91,055 1,107,076 8,532,595 20
Close* 5,455 7,400 7,600 6,800 7,725 May-14 7,800 7,075 7,075 76,478 925,623 6,955,904 18
Jun-14 7,525 7,075 7,275 72,784 680,106 4,942,665 21
PER (X) 15.37 14.03 13.70 15.33 15.93 Jul-14 8,050 7,325 7,725 70,195 797,969 6,102,553 18
PER Industry (X) 16.08 12.24 18.33 18.64 9.65
PBV (X) 4.48 3.95 3.43 2.79 2.77

Receivables 23,919,000 37,405,000 38,608,000 51,645,000 55,904,000

10,842,000 11,990,000 15,285,000 14,433,000 18,708,000 190,000
Inventories
Current Assets 46,843,000 65,978,000 75,799,000 88,352,000 96,020,000
142,500
Fixed Assets 24,363,000 28,604,000 34,326,000 37,862,000 39,017,000
Other Assets 612,000 1,043,000 1,824,000 2,490,000 3,435,000
95,000
Total Assets 112,857,000 153,521,000 182,274,000 213,994,000 227,129,000
Growth (%) 36.03% 18.73% 17.40% 6.14% 47,500

Growth (%) 43.41% 19.02% 16.60% 6.06%
Paid up Capital 2,024,178 2,024,178 2,024,178 2,024,178 2,024,178 112,793
106,188

Par Value 500 500 50 50 50
89,783
75,838
66,773
Total Equity 49,310,000 75,838,000 89,814,000 106,188,000 112,793,000 49,310

Growth (%) 53.80% 18.43% 18.23% 6.22% 43,764
Total Revenues 129,991,000 162,564,000 188,053,000 193,880,000 101,528,000

Growth (%) 25.06% 15.68% 3.10%
-2,256
2010 2011 2012 2013 Jun-14
Cost of Revenues 103,117,000 130,530,000 151,853,000 158,569,000 82,384,000

Gross Profit 26,874,000 32,034,000 36,200,000 35,311,000 19,144,000
Expenses (Income) 12,149,000 14,202,000 8,302,000 7,788,000 4,482,000
Operating Profit 14,725,000 17,832,000 - - - 188,053 193,880
Growth (%) 21.10% N/A 162,564

154,328
129,991
Other Income (Expenses) 1,410,000 7,940,000 - - -
Income before Tax 21,031,000 25,772,000 27,898,000 27,523,000 14,662,000 114,777 101,528
Tax 4,027,000 4,695,000 5,156,000 5,226,000 2,841,000

75,225
Growth (%) 23.95% 7.90% -1.96%

35,674
Period Attributable 14,366,000 17,785,000 19,421,000 19,417,000 9,815,000 -3,878
Current Ratio (%) 126.18 136.40 139.91 124.20 122.03
22,742 22,297
Dividend (Rp) 470.00 1,980.00 216.00 216.00 64.00 21,077
EPS (Rp) 3,548.60 4,393.14 479.73 479.63 242.44
17,004
BV (Rp) 12,180.25 18,733.04 2,218.53 2,622.99 2,786.14 18,103
DAR (X) 0.48 0.51 0.51 0.50 0.50

13,463 11,821
DER(X) 1.10 1.02 1.03 1.02 1.01
ROA (%) 15.07 13.73 12.48 10.42 5.20 8,824
ROE (%) 34.48 27.79 25.32 21.00 10.48

GPM (%) 20.67 19.71 19.25 18.21 18.86 4,185
OPM (%) 11.33 10.97 - - -

NPM (%) 13.08 12.97 12.09 11.50 11.64
-455
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 13.24 45.07 45.03 45.04 26.40
Yield (%) 0.86 2.68 2.84 3.18 0.88

COMPANY REPORT
ASRI
ALAM SUTERA REALTY TBK.
Company Profile
PT Alam Sutera Realty Tbk. was established on November 3rd, 1993. The Company
commenced its operational activity and purchased the land in 1999.
The Company’s activities are developing and manage housing. Group is domiciled at Wisma
Argo Manunggal, Jln. Jend. Gatot Subroto Kav. 22, Jakarta and has real estate projects
which are located in:
• Kec. Serpong, Kab. Tangerang, and Kec. Pasar Kemis, Kab. Tangerang, Province
Banten,
• Kec. Cibitung, Kab Bekasi, Province West Java,
• Kec. Setia Budi, Jakarta Selatan,
• Kec. Kuta Selatan, Badung, Bali.
And owns lands for development located in:

• Kec. Serpong, Kec. Pasar Kemis, Kab. Tangerang, Province Banten
• Kec. Cibitung, Kab Bekasi,
• Kec. Pacet, Kab. Cianjur, Province West Java, and
• Kec. Tanjung Pinang, Privince Riau,
• Kec. Denpasar Selatan, Bali.
The main real estate project owned by the Company and Subsidiaries recently are Alam
Sutera Residential and Commercial projects in Serpong, and Suvarna Padi and Suvarna
Sutera projects in Pasar Kemis, Tangerang.
Alam Sutera believes that all the development efforts must take environmental issues into
account seriously. The eco-friendly development meant more than a marketing gimmick—
it is the company’s commitment. The Company is committed to do their part in the
handling of millions of tons of pollution in their environment every day, by setting an
example how to develop a sustainable green community.
The Company has direct ownership in subsidiaries: PT Delta Mega Persada, PT Duta
Prakarsa Development, PT Nusa Cipta Pratama, PT Garuda Adhimatra Indonesia, and PT
Tangerang Matra Real Estate.
The Company and subsidiaries had 1,310 employees as June 30th, 2013.
August 2014
Disclaimer:

ASRI Alam Sutera Realty Tbk. [S]
Industry Sub Sector : Property And Real Estate (61) Market Capitalization : 10,315,941,241,200
85 | 10.3T | 0.20% | 84.01%
31 | 7.59T | 0.90% | 65.03%

Established Date : 03-Nov-1993 1. PT Tangerang Fajar Industrial Estate 1,971,650,000 : 10.03%
Listing Date : 18-Dec-2007 2. Tangerang Fajar Industrial Estate 2,982,450,000 : 15.18%
Under Writer IPO : 3. PT Manunggal Prime Development 5,218,356,000 : 26.56%
PT Ciptadana Securities 4. Public (<5%) 9,476,955,888 : 48.23%
Securities Administration Bureau :
PT Raya Saham Registra DIVIDEND ANNOUNCEMENT
Plaza Central Building 2nd Fl. Bonus Cash Recording Payment
F/I
Jln. Jend. Sudirman Kav. 47 - 48 Jakarta 12930 Year Shares Dividend Cum Date Ex Date Date Date
Phone : (021) 252-5666 2008 0.69 03-Jul-09 06-Jul-09 09-Jul-09 24-Jul-09 F
2010 4.03 01-Jul-11 04-Jul-11 06-Jul-11 20-Jul-11 F
BOARD OF COMMISSIONERS 2011 6.13 05-Jul-12 06-Jul-12 10-Jul-12 24-Jul-12 F
1. Marzuki Usman 2012 14.60 25-Jun-13 26-Jun-13 28-Jun-13 12-Jul-13 F
2. Angeline Sutedja
3. Kristianto Sudiono ISSUED HISTORY
4. Pingki Elka Pangestu *) Listing Trading
5. Prasasto Sudyatmiko *) No. Type of Listing Shares Date Date
*) Independent Commissioners 1. First Issue 3,142,000,000 18-Dec-07 18-Dec-07
2. Company Listing 13,986,810,000 18-Dec-07 18-Aug-08
BOARD OF DIRECTORS 3. Warrant 4,974,500 11-Jun-09 11-Jun-09
1. Harjanto Tirtohadiguno 4. Warrant 40,050,000 18-Jun-09 18-Jun-09
2. Andrew Charles Walker 5. Warrant 1,000,000 19-Jun-09 19-Jun-09
3. Joseph Sanusi Tjong 6. Warrant 18,500,000 22-Jun-09 22-Jun-09
4. Lilia Setiprawarti Sukotjo 7. Warrant 20,000,000 28-Jul-09 28-Jul-09
5. Soelaeman Soemawinata 8. Warrant 250,000 12-Oct-09 12-Oct-09
9. Warrant 3,325,000 14-Oct-09 14-Oct-09
AUDIT COMMITTEE 10. Warrant 55,000,000 23-Oct-09 23-Oct-09
1. Prasasto Sudyatmiko 11. Warrant 45,500,000 27-Oct-09 27-Oct-09
2. Hidajat Hoesni 12. Warrant 27,500,000 28-Oct-09 28-Oct-09
3. Sri Wahyuni Sujono 13. Warrant 63,108,500 29-Oct-09 29-Oct-09
14. Warrant 15,000,000 03-Nov-09 03-Nov-09
CORPORATE SECRETARY 15. Warrant 60,000,000 24-Nov-09 24-Nov-09
Hendra Kurniawan 16. Warrant 27,500,000 26-Nov-09 26-Nov-09
17. Warrant 388 03-Dec-09 03-Dec-09
HEAD OFFICE 18. Warrant 27,500,000 10-Dec-09 10-Dec-09
Wisma Argo Manunggal 18th Fl. 19. Warrant 277,976,000 14-Dec-09 14-Dec-09
Jln. Jend. Gatot Subroto Kav. 22 20. Warrant 15,000,000 15-Dec-09 15-Dec-09
Jakarta - 12930 21. Warrant 1,695,000 21-Dec-09 21-Dec-09
Phone : (021) 531-40628, 252-3838 22. Warrant 30,412,500 28-Dec-09 28-Dec-09
Fax : (021) 252-5050 23. Additional Listing without RI 1,786,310,000 25-Jan-12 25-Jan-12
Homepage : www.alam-sutera.com
Email : corsec@alam-sutera.com
nathan@alam-sutera.com

TRADING ACTIVITIES
Alam Sutera Realty Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
1,200 7,200 Jan-10 118 103 109 10,132 1,684,788 184,241 20
Feb-10 141 108 136 23,405 4,589,029 592,735 19
1,050 6,300 Mar-10 171 132 164 18,621 3,365,306 497,356 22
Apr-10 225 164 215 36,473 5,312,287 1,058,509 21
May-10 225 132 170 34,855 9,896,529 1,842,298 19
900 5,400
Jun-10 195 162 183 17,755 2,199,381 391,028 22
Jul-10 220 178 205 16,716 2,882,832 575,462 22
750 4,500
Aug-10 210 177 178 18,700 1,740,934 336,021 21
Sep-10 210 180 205 25,103 2,333,177 455,386 17
600 3,600
Oct-10 290 200 265 27,171 3,606,905 906,899 21
Nov-10 320 265 280 19,783 2,309,919 673,270 21
450 2,700 Dec-10 310 275 295 12,442 1,004,337 295,880 20
300 1,800 Jan-11 310 230 245 19,196 1,651,106 445,752 21

Feb-11 255 225 245 9,005 590,906 142,983 18
150 900 Mar-11 290 240 285 12,373 937,975 249,543 23
Apr-11 305 265 295 10,749 1,006,591 287,673 20
May-11 325 280 310 12,896 1,311,172 398,549 21
Jun-11 345 305 325 12,324 1,143,722 370,811 20
Jul-11 450 315 420 21,840 2,374,352 899,084 21
Aug-11 450 360 420 24,237 2,168,218 894,522 19
Sep-11 440 340 385 25,423 2,016,360 811,334 20
Closing Price*, Jakarta Composite Index (IHSG) and Oct-11 500 340 435 45,657 3,459,789 1,508,461 21
Property, Real Estate and Bulding Construction Index Nov-11 470 395 425 31,786 2,106,554 934,363 22
January 2010 - July 2014 Dec-11 480 430 460 18,406 1,383,018 628,154 21
980%
Jan-12 520 455 485 24,608 3,163,247 1,462,365 21
840% Feb-12 610 480 570 26,234 3,013,912 1,651,814 21
Mar-12 630 560 620 22,571 2,116,918 1,272,835 21
700% Apr-12 650 560 600 28,484 1,831,503 1,099,178 20
May-12 620 510 540 22,850 1,453,973 832,432 21
560% Jun-12 570 455 490 27,226 4,923,539 2,336,855 21
Jul-12 520 455 460 27,925 1,557,100 754,451 22
Aug-12 495 430 440 28,541 1,985,545 910,746 19
420%
400.0% Sep-12 520 410 495 30,974 2,734,556 1,274,455 20
Oct-12 580 470 580 26,538 2,210,093 1,173,362 22
280%
Nov-12 620 550 610 15,187 2,653,169 1,535,319 20
213.8%
Dec-12 640 550 600 15,745 1,766,756 1,065,978 18
140%
97.6%
Jan-13 810 600 770 28,260 2,758,752 2,724,524 21
- Feb-13 970 750 930 26,881 1,503,613 1,299,168 20
Mar-13 1,160 930 1,070 36,275 2,093,327 2,178,327 19
-140% Apr-13 1,090 970 1,050 41,384 2,555,637 2,636,209 22
Jun-13 1,080 720 750 65,671 4,696,607 4,021,982 19
Jul-13 800 650 700 45,919 1,984,976 1,452,171 23
SHARES TRADED 2010 2011 2012 2013 Jul-14 Aug-13 830 445 550 45,493 2,264,238 1,407,217 17
Volume (Million Sh.) 40,925 20,150 29,410 31,672 13,843 Sep-13 760 450 600 58,331 3,063,421 1,822,815 21
Value (Billion Rp) 7,809 7,571 15,370 24,781 7,588 Oct-13 700 560 610 43,176 4,867,653 3,050,634 21
Frequency (Thou. X) 261 244 297 511 327 Nov-13 610 455 475 43,705 2,060,989 1,091,598 20
Days 245 247 246 244 137 Dec-13 530 425 430 32,921 1,686,157 800,565 19
Price (Rupiah) Jan-14 550 424 510 53,655 2,182,118 1,083,703 20

High 320 500 650 1,160 680 Feb-14 605 500 575 46,156 2,449,458 1,364,848 20
Low 103 225 410 425 424 Mar-14 680 560 595 54,398 2,986,797 1,854,302 20
Close 295 460 600 430 525 Apr-14 645 525 530 44,870 1,895,164 1,085,403 20
Close* 295 460 600 430 525 May-14 550 494 500 34,759 1,321,748 683,943 18
Jun-14 499 435 442 38,963 782,146 360,303 21
PER (X) 18.14 13.63 9.69 7.30 10.01 Jul-14 560 440 525 53,818 2,225,772 1,155,784 18
PER Industry (X) 9.97 11.09 17.34 17.79 19.77
PBV (X) 2.39 2.95 2.49 1.59 1.79

Public Accountant : Paul Hadiwinata, Hidajat, Arsono, Ade Fatma & Rekan (Member of PKF International Ltd)
Cash & Cash Equivalents 732,357 844,906 1,641,316 890,181 1,552,348 16,250
Receivables 14,693 21,596 29,721 84,690 143,097

2,186,131 2,395,213 1,661,094 937,153 3,136,006 13,000
Inventories
Investment 28,827 57,476 - 312,000 -
9,750
Fixed Assets 148,063 341,514 708,121 801,678 851,681
Other Assets 322,433 806,319 11,619 61,186 59,689
6,500
Total Assets 4,587,986 6,007,548 10,946,417 14,428,083 15,781,774
Growth (%) 30.94% 82.21% 31.81% 9.38% 3,250
Bank Payable 554,227 795,658 45,000 135,000 -

Trade Payable 26,212 35,519 35,257 165,089 169,474 2010 2011 2012 2013 Jun-14
Growth (%) 35.80% 92.96% 46.37% 10.02%
Authorized Capital 24,000 2,400,000 2,400,000 2,400,000 2,400,000 5,774
Paid up Capital 1,786,310 1,786,310 1,964,941 1,964,941 1,964,941 5,774
5,332
Par Value 100 100 100 100 100

4,596
Retained Earnings 448,273 977,938 2,050,204 2,640,107 3,017,926

2,787
3,418
Total Equity 2,208,305 2,786,872 4,731,875 5,331,785 5,774,451

2,208
Growth (%) 26.20% 69.79% 12.68% 8.30% 2,240
Total Revenues 765,213 1,381,046 2,446,414 3,684,240 1,944,940

Growth (%) 80.48% 77.14% 50.60%
-115
2010 2011 2012 2013 Jun-14
Cost of Revenues 349,046 566,656 979,517 1,846,814 867,485

Gross Profit 416,167 814,391 1,466,897 1,837,425 1,077,455
Operating Profit 343,079 693,620 1,254,013 1,533,221 896,679 3,684
3,684
Growth (%) 102.18% 80.79% 22.27%

2,933
2,446
Other Income (Expenses) -12,897 -22,477 90,182 -451,445 -219,042
Income before Tax 330,182 671,143 1,344,195 1,081,776 677,637 2,181 1,945
Tax 39,287 68,407 128,103 192,199 97,424 1,381

Profit for the period 290,895 602,737 1,216,092 889,577 580,213
1,429
765
Growth (%) 107.20% 101.76% -26.85%
678
Period Attributable 290,484 601,654 1,192,716 876,785 515,364 -74
Comprehensive Income 290,895 602,737 1,216,092 889,577 580,213 2010 2011 2012 2013 Jun-14
Comprehensive Attributable 290,484 601,654 1,192,716 876,785 515,364
Dividend (Rp) 4.03 6.13 14.60 - -
1,216
EPS (Rp) 16.26 33.68 60.70 44.62 26.23 1,216
BV (Rp) 123.62 156.01 240.82 271.35 293.87

890
DAR (X) 0.52 0.54 0.57 0.63 0.63 968
DER(X) 1.07 1.16 1.31 1.71 1.73

720
603 580
ROA (%) 6.34 10.03 11.11 6.17 3.68
ROE (%) 13.17 21.63 25.70 16.68 10.05 472
GPM (%) 54.39 58.97 59.96 49.87 55.40 291
OPM (%) 44.83 50.22 51.26 41.62 46.10 224
NPM (%) 38.01 43.64 49.71 24.15 29.83

Payout Ratio (%) 24.78 18.20 24.05 - -
-24
2010 2011 2012 2013 Jun-14

Yield (%) 1.37 1.33 2.43 - -

COMPANY REPORT
BBCA
BANK CENTRAL ASIA TBK.
Company Profile
PT Bank Central Asia Tbk. was established under the name N.V. Perseroan Dagang dan
Industrie Semarang Knitting Factory on October 10th, 1955. The name has changed for
several time, the last change was on May 21st, 1974, which is PT Bank Central Asia.
The Bank began operations in banking since the date of October 12, 1956. The Bank
operates as a commercial bank. Bank engaged in banking and other financial services in
accordance with the regulations applicable in Indonesia.
As of 30 June 2014, BCA had 954 domestics branches and 2 overseas representatives
located in Singapore and Hong Kong.
BCA has direct and indirect ownership in subsidiaries: BCA Finance, BCA Finance Limited,
PT Bank BCA Syariah, PT BCA Sekuritas, PT Asuransi Umum BCA, and PT Central Santosa
Finance.
As of June 30th, 2014, BCA had 22,355 permanent employees.
August 2014
Disclaimer:

BBCA Bank Central Asia Tbk.
Industry Sector : Finance (8) Listed Shares : 24,408,459,120
Industry Sub Sector : Bank (81) Market Capitalization : 283,138,125,792,000
3 | 283.1T | 5.60% | 17.84%
5 | 30.5T | 3.60% | 26.92%

Established Date : 10-Aug-1955 1. UOB Kay Hian Private Limited For Farindo Investment 11,125,990,000 : 45.13%
Listing Date : 31-May-2000 2. Public (<5%) 13,282,469,120 : 54.87%
Under Writer IPO :
F/I
Securities Administration Bureau : Year Shares Dividend Cum Date Ex Date Date Date
PT Raya Saham Registra 2001 85.00 14-Nov-01 15-Nov-01 20-Nov-01 04-Dec-01 I
Plaza Central Building 2nd Fl. 2001 140.00 29-Oct-02 30-Oct-02 01-Nov-02 15-Nov-02 F
Jln. Jend. Sudirman Kav. 47 - 48 Jakarta 12930 2002 225.00 03-Dec-03 04-Dec-03 08-Dec-03 19-Dec-03 F
Phone : (021) 252-5666 2003 225.00 30-Jun-04 01-Jul-04 06-Jul-04 20-Jul-04 F
Fax : (021) 252-5028 2004 50.00 22-Nov-04 23-Nov-04 25-Nov-04 08-Dec-04 F
2005 80.00 19-Jul-05 20-Jul-05 22-Jul-05 05-Aug-05
BOARD OF COMMISSIONERS 2005 50.00 06-Oct-05 07-Oct-05 11-Oct-05 25-Oct-05 I
1. Djohan Emir Setijoso 2005 90.00 06-Jun-06 07-Jun-06 09-Jun-06 23-Jun-06 F
2. Cyrillus Harinowo *) 2006 55.00 10-Oct-06 11-Oct-06 13-Oct-06 03-Nov-06 I
3. Raden Pardede *) 2006 115.00 08-Jun-07 11-Jun-07 13-Jun-07 27-Jun-07 I
4. Sigit Pramono *) 2007 55.00 29-Nov-07 30-Nov-07 04-Dec-07 18-Dec-07 I
5. Tonny Kusnadi 2007 63.50 12-Jun-08 13-Jun-08 17-Jun-08 01-Jul-08 F
*) Independent Commissioners 2008 35.00 15-Jan-09 16-Jan-09 20-Jan-09 30-Jan-09 I
2008 65.00 09-Jun-09 10-Jun-09 12-Jun-09 26-Jun-09 F
BOARD OF DIRECTORS 2009 40.00 12-Nov-09 13-Nov-09 17-Nov-09 02-Dec-09 I
1. Jahja Setiaatmadja 2009 70.00 31-May-10 01-Jun-10 03-Jun-10 17-Jun-10 F
2. Anthony Brent Elam 2010 42.50 19-Nov-10 22-Nov-10 24-Nov-10 09-Dec-10 I
3. Armand Wahyudi Hartono 2010 70.00 06-Jun-11 07-Jun-11 09-Jun-11 23-Jun-11 F
4. Dhalia Mansor Ariotedjo 2011 43.50 06-Dec-11 07-Dec-11 09-Dec-11 23-Dec-11 I
5. Erwan Yuris Ang 2011 113.50 08-Jun-12 11-Jun-12 13-Jun-12 27-Jun-12 F
6. Eugene Keith Galbraith 2012 43.50 03-Dec-12 04-Dec-12 06-Dec-12 20-Dec-12 I
7. Henry Koenaifi 2012 71.00 28-May-13 29-May-13 31-May-13 17-Jun-13 F
8. Rudy Susanto 2013 45.00 28-Nov-13 29-Nov-13 03-Dec-13 17-Dec-13 I
9. Subur Tan 2013 120.00 29-Apr-14 30-Apr-14 05-May-14 20-May-14 F
10. Suwignyo Budiman
ISSUED HISTORY
AUDIT COMMITTEE Listing Trading
1. Sigit Pramono No. Type of Listing Shares Date Date
2. Ilham Ikhsan 1. First Issue 662,400,000 31-May-00 31-May-00
3. Inawaty Suwardi 2. Company Listing 2,252,146,140 T: 31-May-00 : 11-Jan-01
3. Stock Split 21,199,350,480 T: 15-May-01 : 28-Jan-08
CORPORATE SECRETARY 4. Option Conversion 210,852,000 T: 29-Nov-01 : 09-Nov-06
Inge Setiawati 5. Option Conversion MSOP 89,226,500 T: 04-Aug-03 : 29-Sep-04
6. Partial Delisting -5,516,000 04-Jan-08 04-Jan-08
HEAD OFFICE
Menara BCA 20th Fl. Grand Indonesia
Jln. M.H. Thamrin No. 1
Jakarta - 10310
Phone : (021) 571-1250
Fax : (021) 570-1865
Homepage : www.klikbca.com
Email : inge_setiawati@bca.co.id

TRADING ACTIVITIES
Bank Central Asia Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
12,000 560 Jan-10 5,150 4,725 5,000 13,903 203,974 1,004,908 20
Feb-10 5,100 4,425 4,875 14,815 258,457 1,222,503 19
10,500 490 Mar-10 5,850 4,800 5,500 12,983 370,441 1,962,251 22
Apr-10 6,200 5,400 5,450 14,597 594,084 3,341,963 21
May-10 5,600 4,825 5,550 26,162 473,921 2,472,420 19
9,000 420
Jun-10 6,000 5,250 5,950 14,774 250,339 1,413,108 22
Jul-10 6,300 5,500 5,950 12,580 203,533 1,205,702 22
7,500 350
Aug-10 6,150 5,650 5,800 13,290 194,802 1,156,077 21
Sep-10 6,900 5,850 6,700 13,878 234,257 1,497,921 17
6,000 280
Oct-10 7,100 6,550 7,000 17,064 266,959 1,829,882 21
Nov-10 7,200 6,050 6,050 23,971 298,407 2,031,688 21
4,500 210 Dec-10 6,750 6,150 6,400 29,198 935,024 6,186,651 20
3,000 140 Jan-11 6,650 5,300 5,650 36,521 515,715 3,024,334 21

Feb-11 6,450 5,550 6,300 19,474 309,683 1,855,713 18
1,500 70 Mar-11 7,000 6,300 6,950 21,965 301,403 2,028,622 23
Apr-11 7,700 6,800 7,400 16,724 217,742 1,561,623 20
May-11 7,500 7,000 7,100 19,416 205,970 1,481,677 21
Jun-11 7,700 7,000 7,650 17,083 216,573 1,572,104 20
Jul-11 8,500 7,550 8,300 22,050 235,954 1,889,559 21
Aug-11 8,850 7,250 8,000 37,790 465,218 3,714,097 19
Sep-11 8,500 6,950 7,700 33,396 339,968 2,651,632 20
Finance Index Nov-11 8,400 7,450 7,900 28,088 360,677 2,850,162 22
January 2010 - July 2014 Dec-11 8,250 7,700 8,000 17,092 193,852 1,543,490 21
140%
129.7% Jan-12 8,250 7,850 8,000 20,524 284,722 2,292,976 21
120% 119.7% Feb-12 8,250 7,200 7,600 34,730 493,690 3,726,985 21
Mar-12 8,150 7,450 8,000 20,067 215,749 1,685,625 21
100% Apr-12 8,250 7,750 8,000 14,002 236,761 1,894,521 20
97.6%
May-12 8,100 7,000 7,000 22,561 398,309 2,996,959 21
80% Jun-12 7,500 6,750 7,300 21,978 289,274 2,085,318 21
Jul-12 8,050 7,250 8,000 20,559 343,483 2,611,726 22
Aug-12 8,050 7,650 7,750 16,480 430,418 3,358,206 19
60%
Sep-12 8,150 7,750 7,900 17,988 284,480 2,266,305 20
Oct-12 8,250 7,800 8,200 15,210 322,195 2,599,470 22
40%
Nov-12 9,400 8,150 8,800 17,126 247,495 2,149,295 20
Dec-12 9,500 8,750 9,100 19,730 231,033 2,098,035 18
20%
Jan-13 9,750 8,850 9,650 22,825 280,620 2,589,237 21

- Feb-13 11,300 9,650 11,000 22,323 662,141 6,634,281 20
Mar-13 11,400 10,400 11,400 27,863 259,577 2,789,619 19
-20% Apr-13 11,250 10,450 10,750 25,790 316,861 3,437,786 22
Jan 10 Jan 11 Jan 12 Jan 13 Jan 14 May-13 11,150 10,350 10,350 26,204 253,379 2,749,582 22
Jun-13 10,350 8,900 10,000 46,266 521,956 5,000,323 19
Jul-13 10,450 9,100 10,400 31,898 236,737 2,350,258 23
Days 245 247 246 244 137 Dec-13 9,850 9,250 9,600 30,855 186,366 1,776,805 19
Price (Rupiah) Jan-14 10,350 9,250 9,925 57,353 367,092 3,602,939 20

High 7,200 8,850 9,500 12,500 11,800 Feb-14 10,550 9,700 10,225 46,542 430,305 4,418,825 20
Low 4,425 5,300 6,750 8,450 9,250 Mar-14 11,125 10,150 10,600 59,990 436,023 4,599,025 20
Close 6,400 8,000 9,100 9,600 11,600 Apr-14 11,250 10,425 11,000 53,682 669,676 7,354,376 20
Close* 6,400 8,000 9,100 9,600 11,600 May-14 11,525 10,775 10,775 45,146 265,133 2,967,458 18
Jun-14 11,400 10,700 11,000 43,261 268,220 2,959,465 21
PER (X) 18.61 18.31 18.86 17.13 18.21 Jul-14 11,800 10,875 11,600 44,924 396,445 4,549,613 18
PER Industry (X) 16.00 6.61 6.58 17.01 21.95
PBV (X) 4.63 4.69 4.32 3.87 4.07

Public Accountant : Siddharta & Widjaja (Member of KPMG International)
Cash on Hand 9,639,057 10,355,620 11,054,208 16,284,142 13,548,999 525,000
Placements with Other Banks 61,326,849 43,010,506 28,802,130 12,254,043 20,520,803

21,159,270 22,166,868 47,310,371 89,463,509 89,668,762 420,000
Marketable Securities
Loans 150,016,746 198,440,354 252,760,457 306,679,132 315,395,071
315,000
Investment 38,501 171,728 104,246 182,544 171,482
Fixed Assets 3,406,957 4,144,659 6,406,625 7,440,017 7,683,465
210,000
Other Assets 3,682,901 4,185,031 6,265,653 6,564,382 8,644,867
Total Assets 324,419,069 381,908,353 442,994,197 496,304,573 522,713,985 105,000
Growth (%) 17.72% 15.99% 12.03% 5.32%
-
Deposits 277,530,635 326,894,554 372,837,307 413,036,948 425,510,828 2010 2011 2012 2013 Jun-14
Taxes Payable 493,337 432,101 216,614 276,017 260,553
Fund Borrowings 448,721 449,188 128,018 500,952 3,464,476
Other Liabilities 2,812,014 3,483,582 5,620,847 5,768,437 10,755,219 TOTAL EQUITY (Bill. Rp)
Total Liabilities 290,311,225 339,881,013 390,067,244 432,337,895 450,849,297 70,353
Growth (%) 17.07% 14.77% 10.84% 4.28% 70,353
63,967
51,898
Authorized Capital 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000
56,001
1,540,938 1,540,938 1,540,938 1,540,938 1,540,938 42,027

Paid up Capital
34,108
41,649

Par Value 63 63 63 63 63 27,297

Total Equity 34,107,844 42,027,340 51,897,942 63,966,678 70,353,048 12,945
Growth (%) 23.22% 23.49% 23.25% 9.98%

-1,407
2010 2011 2012 2013 Jun-14

INCOME STATEMENTS Dec-10 Dec-11 Dec-12 Dec-13 Jun-14
Total Interest Income 20,660,602 24,566,852 28,885,290 34,277,149 20,916,897
Growth (%) 18.91% 17.58% 18.67%
TOTAL INTEREST INCOME (Bill. Rp)
Interest Expenses 7,723,774 7,730,157 7,647,167 7,852,009 5,501,273 34,277
7,359,500 7,213,378 6,375,833 470,940 4,225,172

34,277
Other Operating Revenue 28,885

Other Operating Expenses 9,571,893 10,913,969 12,859,718 14,631,462 9,864,268 27,285
24,567
Income from Operations 10,400,190 13,296,775 14,255,568 17,078,667 9,776,528 20,661 20,917
Growth (%) 27.85% 7.21% 19.80% 20,292
Non-Operating Revenues 253,079 321,983 430,478 736,939 141,494

13,300
Income Before Tax 10,653,269 13,618,758 14,686,046 17,815,606 9,918,022

Provision for Income Tax 2,173,996 2,800,960 2,967,586 3,559,367 2,056,222
6,307
Profit for the period 8,479,273 10,817,798 11,718,460 14,256,239 7,861,800 -686
Growth (%) 27.58% 8.33% 21.66% 2010 2011 2012 2013 Jun-14
Period Attributable 8,479,273 10,819,309 11,721,717 14,253,831 7,851,618

Comprehensive Income 8,789,687 10,770,209 11,898,523 13,004,312 8,184,851 PROFIT FOR THE PERIOD (Bill. Rp)
14,256
14,256
RATIOS Dec-10 Dec-11 Dec-12 Dec-13 Jun-14 11,718

10,818
Dividend (Rp) 112.50 157.00 114.50 165.00 - 11,348
EPS (Rp) 343.92 438.83 475.43 578.13 318.46 8,479

7,862
1,383.40 1,704.62 2,104.97 2,594.47 2,853.50
8,440
BV (Rp)
DAR (X) 0.89 0.89 0.88 0.87 0.86 5,531
DER(X) 8.51 8.09 7.52 6.76 6.41

ROA (%) 2.61 2.83 2.65 2.87 1.50 2,623
ROE (%) 24.86 25.74 22.58 22.29 11.17

OPM (%) 50.34 54.12 49.35 49.83 46.74
-285
2010 2011 2012 2013 Jun-14

NPM (%) 41.04 44.03 40.57 41.59 37.59
Payout Ratio (%) 32.71 35.78 24.08 28.54 -
Yield (%) 1.76 1.96 1.26 1.72 -

COMPANY REPORT
BBNI
BANK NEGARA INDONESIA
(PERSERO) TBK.
Company Profile
PT Bank Negara Indonesia (Persero) Tbk. was originally established in Indonesia as a central
bank under the name “Bank Negara Indonesia” dated July 5th, 1946. Subsequently, BNI
became “Bank Negara Indonesia 1946” and changed its status to a state-owned
commercial bank.
BNI’s scope of activity is to engage in general banking services.
As of June 30th, 2014, BNI had 168 domestic branches, 912 domestic sub-branches, and 627
other outlet. In addition, BNI’s network also included 4 overseas branches located in
Singapore, Hong Kong, Tokyo and London and 1 agency in New York.
BNI has direct ownership in the following subsidiaries: PT BNI Life Insurance, PT BNI
Multifinance, PT BNI Securities and subsidiaries, BNI Remittance Ltd. and PT Bank BNI
Syariah. All of the subsidiaries of BNI are domiciled in Jakarta, except for BNI Remittance
Ltd. which is domiciled in Hong Kong.
As of June 30th, 2014, BNI had 23,390 permanent employees and 3,079 non-permanent
employees.
August 2014
Disclaimer:

BBNI Bank Negara Indonesia (Persero) Tbk.
11 | 94.2T | 1.86% | 46.58%
8 | 20.4T | 2.42% | 35.57%

Established Date : 05-Jul-1946 1. Negara Republik Indonesia 11,189,193,875 : 60.00%
Under Writer IPO :
PT Bahana Securities DIVIDEND ANNOUNCEMENT
PT BNI Securities Bonus Cash Recording Payment
F/I
PT Danareksa Sekuritas Year Shares Dividend Cum Date Ex Date Date Date
PT Pentasena Arthasentosa 1996 13.00 06-May-97 07-May-97 16-May-97 14-Jun-97 F
Securities Administration Bureau : 1997 14.00 30-Jun-98 01-Jul-98 10-Jul-98 08-Aug-98 F
PT Datindo Entrycom 2001 4.41 09-Oct-02 10-Oct-02 14-Oct-02 28-Oct-02 F
Puri Datindo - Wisma Sudirman 2002 6.30 23-Oct-03 24-Oct-03 28-Oct-03 05-Nov-03 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2003 23.71 01-Jul-04 02-Jul-04 07-Jul-04 21-Jul-04 F
Phone : (021) 570-9009 2005 118.07 23-Jun-05 24-Jun-05 28-Jun-05 07-Jul-05 F
2006 72.50 19-Jun-07 20-Jun-07 22-Jun-07 02-Jul-07 F
1. Peter Benyamin Stock *) 2008 8.00 18-Jun-09 19-Jun-09 23-Jun-09 07-Jul-09 F
2. A. Pandu Djajanto 2009 9.44 25-Nov-09 26-Nov-09 01-Dec-09 11-Dec-09 I
3. Achil Ridwan Djayadiningrat *) 2009 47.48 08-Jun-10 09-Jun-10 11-Jun-10 25-Jun-10 F
4. B.S. Kusmuljono *) 2010 65.98 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
5. Daniel Theodore Sparringa 2011 62.48 10-May-12 11-May-12 15-May-12 30-May-12 F
6. Fero Poerbonegoro *) 2012 113.35 26-Apr-13 29-Apr-13 01-May-13 16-May-13 F
7. Kiagus Ahmad Badaruddin 2013 145.71 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
8. Tirta Hidayat
*) Independent Commissioners ISSUED HISTORY
Listing Trading
BOARD OF DIRECTORS No. Type of Listing Shares Date Date
1. Gatot Mudhiantoro Suwondo 1. Negara RI (Seri A) 1 25-Nov-96 -
2. Adi Setianto 2. First Issue 1,085,032,000 25-Nov-96 25-Nov-96
3. Ahdi Jumhari Luddin 3. Company Listing 3,255,095,999 25-Nov-96 28-Jun-97
4. Darmadi Sutanto 4. Partial Delisting -43,401,280 02-Jul-99 02-Jul-99
5. Felia Salim 5. Right Issue 151,904,480,000 05-Jul-99 05-Jul-99
6. Honggo Widjoyo Kangmasto 6. Additional Listing 41,375,391,255 20-Apr-01 20-Apr-01
7. Krishna R. Suparto 7. Partial Delisting -343,540,085 12-Dec-01 12-Dec-01
8. Sutanto 8. Reverse Split -184,084,187,364 23-Dec-03 23-Dec-03
9. Sutirta Budiman 9. Right Issue 1,974,563,625 13-Aug-07 13-Aug-07
10. Suwoko Singoastro 10. Partial Delisting -2,233,046 31-Aug-07 31-Aug-07
11. Yap Tjay Soen 11. Right Issue 3,340,968,788 29-Dec-10 29-Dec-10
AUDIT COMMITTEE
1. Achil Ridwan Djayadiningrat
2. Bambang Hendrajatin
3. Tubagus Chairul Amachi
CORPORATE SECRETARY
Tribuana Tunggadewi
HEAD OFFICE
BNI Building 24th Fl.
Jln. Jend. Sudirman Kav. 1
Jakarta - 10220
Phone : (021) 251-1946
Fax : (021) 251-1214, 1961, 1075, 572-8805, 8053, 8295
Homepage : www.bni.co.id
Email : tribuana.tunggadewi@bni.co.id

TRADING ACTIVITIES
Bank Negara Indonesia (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
5,600 3,200 Jan-10 2,025 1,890 1,930 10,453 230,206 453,565 20
Feb-10 1,960 1,730 1,910 12,968 288,634 536,732 19
4,900 2,800 Mar-10 2,350 1,850 2,275 16,181 777,770 1,631,702 22
Apr-10 2,600 2,225 2,600 10,596 657,589 1,574,987 21
May-10 2,575 2,200 2,500 11,196 549,945 1,317,421 19
4,200 2,400
Jun-10 2,525 2,300 2,350 7,563 331,047 798,275 22
Jul-10 3,100 2,275 3,025 13,283 549,744 1,513,592 22
3,500 2,000
Aug-10 3,475 2,875 3,475 13,428 1,183,682 3,617,166 20
Sep-10 4,000 3,350 3,675 20,103 597,806 2,183,192 17
2,800 1,600
Oct-10 4,150 3,625 3,900 18,266 347,336 1,342,999 21
Nov-10 4,100 3,625 4,050 14,479 465,575 1,784,933 21
2,100 1,200 Dec-10 5,100 3,600 3,875 35,752 4,036,939 14,493,792 20
1,400 800 Jan-11 3,925 3,075 3,225 28,789 1,025,789 3,525,260 21

Feb-11 3,575 3,150 3,550 15,096 458,732 1,557,467 18
700 400 Mar-11 4,000 3,550 3,975 22,145 678,079 2,531,016 23
Apr-11 4,175 3,850 4,050 20,942 550,731 2,197,504 20
May-11 4,100 3,750 3,875 18,988 514,867 2,001,771 21
Jun-11 3,900 3,550 3,875 20,760 472,644 1,783,047 20
Jul-11 4,500 3,775 4,450 21,591 700,897 2,850,203 21
Aug-11 4,600 3,700 4,125 26,054 792,573 3,298,381 19
Sep-11 4,250 2,975 3,725 34,141 652,860 2,428,834 20
January 2010 - July 2014 Dec-11 4,025 3,675 3,800 20,690 576,138 2,232,935 21
210%
Jan-12 3,950 3,600 3,625 33,481 1,088,649 4,024,984 21
180% Feb-12 3,775 3,325 3,775 49,190 1,450,572 5,117,308 21
168.3% Mar-12 4,000 3,625 4,000 22,662 523,737 2,006,312 21
150% Apr-12 4,225 3,825 4,025 17,676 488,524 1,941,702 20
May-12 4,050 3,575 3,700 15,982 420,781 1,619,666 21
120% Jun-12 3,850 3,500 3,825 12,717 317,367 1,188,374 21
119.7%
Jul-12 3,975 3,725 3,975 13,102 357,854 1,381,432 22
97.6% Aug-12 4,000 3,625 3,725 16,897 480,873 1,833,994 19
90%
Sep-12 3,975 3,725 3,925 16,128 490,626 1,896,606 20
Oct-12 3,950 3,775 3,850 14,881 500,990 1,933,721 22
60%
Nov-12 3,850 3,525 3,700 20,135 446,149 1,632,538 20
Dec-12 3,800 3,525 3,700 16,684 497,250 1,805,016 18
30%
Jan-13 3,925 3,650 3,925 21,824 618,278 2,347,177 21

- Feb-13 4,625 3,950 4,600 24,739 733,921 3,138,250 20
Mar-13 5,100 4,475 5,050 30,569 659,186 3,126,953 19
-30% Apr-13 5,450 4,850 5,400 30,309 640,452 3,265,931 22
Jun-13 4,900 3,975 4,300 46,190 901,397 4,012,428 19
Jul-13 4,425 3,775 4,275 34,934 583,563 2,426,709 23
Days 244 247 246 244 137 Dec-13 4,275 3,700 3,950 30,571 452,169 1,810,642 19
Price (Rupiah) Jan-14 4,420 3,660 4,360 55,797 479,251 1,966,311 20

High 5,100 4,600 4,225 5,600 5,325 Feb-14 4,770 4,125 4,550 68,732 712,946 3,157,847 20
Low 1,730 2,975 3,325 3,375 3,660 Mar-14 5,325 4,450 4,960 79,616 765,650 3,726,665 20
Close 3,875 3,800 3,700 3,950 5,100 Apr-14 5,325 4,700 4,815 54,018 556,377 2,802,548 20
Close* 3,875 3,800 3,700 3,950 5,100 May-14 5,150 4,720 4,775 63,923 667,971 3,279,251 18
Jun-14 4,930 4,710 4,765 57,179 461,000 2,221,427 21
PER (X) 17.62 11.83 9.58 8.45 9.63 Jul-14 5,300 4,740 5,100 61,719 656,779 3,287,150 18
PER Industry (X) 16.00 6.61 6.58 17.01 21.95
PBV (X) 2.18 1.87 1.59 1.61 1.71

Cash on Hand 5,480,703 6,197,731 7,969,378 10,089,927 8,230,154 412,500

13,181,480 7,627,768 9,800,970 11,965,698 12,352,406 330,000
Loans 129,399,567 163,533,423 193,834,670 243,757,807 250,402,801
247,500
Investment 24,398 24,335 24,026 39,507 40,699
Fixed Assets 3,838,079 4,052,708 4,591,588 5,513,569 6,686,300
165,000
Other Assets 4,162,883 4,655,153 3,312,032 3,156,891 3,398,367
Total Assets 248,580,529 299,058,161 333,303,506 386,654,815 407,817,322 82,500
Growth (%) 20.31% 11.45% 16.01% 5.47%
-
Deposits 197,700,436 238,314,269 260,906,084 295,075,178 318,886,906 2010 2011 2012 2013 Jun-14
Taxes Payable 182,128 145,021 171,716 323,957 245,328
Fund Borrowings 5,623,480 8,725,796 8,749,762 - 9,119,407
Growth (%) 21.25% 10.93% 16.98% 3.92% 55,543
47,684
43,525
44,212
9,054,807 9,054,807 9,054,807 9,054,807 9,054,807 33,120

Paid up Capital
32,881

Par Value 7,500 & 7,500 & 375 7,500 & 7,500 & 375 7,500 & 7,500 & 375 7,500 & 7,500 & 375 7,500 & 7,500 & 375
21,551

Total Equity 33,119,626 37,843,024 43,525,291 47,683,505 55,542,545 10,220
Growth (%) 14.26% 15.02% 9.55% 16.48%

-1,111
2010 2011 2012 2013 Jun-14

Growth (%) 9.84% 9.73% 16.50%
7,061,053 7,601,475 8,445,813 9,440,904 4,803,299

26,451

20,692
18,837
Income from Operations 5,509,018 7,242,583 8,641,023 11,218,803 6,058,076
15,672
Growth (%) 31.47% 19.31% 29.83% 15,659
Non-Operating Revenues -23,558 218,725 258,539 59,362 148,932

10,263

4,867
Growth (%) 41.55% 21.35% 28.51% 2010 2011 2012 2013 Jun-14

9,058
9,058

Dividend (Rp) 65.98 62.48 113.35 145.71 - 7,210
5,808
EPS (Rp) 219.95 312.40 377.84 485.52 264.69 4,947
1,775.98 2,029.26 2,333.96 2,556.94 2,978.37
5,362
BV (Rp) 4,103
DAR (X) 0.87 0.87 0.87 0.88 0.86 3,514
DER(X) 6.50 6.90 6.66 7.11 6.34

ROA (%) 1.65 1.94 2.11 2.34 1.21 1,667
ROE (%) 12.39 15.35 16.19 19.00 8.91

OPM (%) 29.25 35.00 38.06 42.41 38.65
-181
2010 2011 2012 2013 Jun-14

NPM (%) 21.78 28.07 31.04 34.24 31.57
Payout Ratio (%) 30.00 20.00 30.00 30.01 -
Yield (%) 1.70 1.64 3.06 3.69 -

COMPANY REPORT
BBRI
BANK RAKYAT INDONESIA (PERSERO) TBK.
Company Profile
Bank Rakyat Indonesia (BRI) is the oldest commercial bank in Indonesia, established on
December 16, 1895, in Purwokerto, Central Java. The state-owned bank went public in
2003 and the Indonesian government holds the majority of its shares with 56.75%,
followed by foreign investors (34.14%) and domestic investors (9.11%).
BRI has six Business segments in its portfolio: Micro Business, Consumer Business, Small
Business, Medium Business, SOE Business and Corporate Business. What makes BRI
different and unique is its Micro Business. With the total micro loan of Rp144.2 trillion as
31.4% of total loan portfolio, BRI micro business is the biggest microfinance in the world.
Since its inception, BRI’s strategies have been mostly focused on the development of
micro, small and medium business segments. In so doing, BRI takes into account its core
competencies at all organization level. With strategic positioning in Indonesian banking
industry supported by strong basis of core competencies in micro business segment since
1984, BRI will be able to achieve its optimal performance in coming years.
Going forward, BRI will retain the focus on micro, small and medium business segments
with the goal of prudent and good quality loan growth. Furthermore, in developing these
strategies, BRI takes into account several factors as follows: the availability of capital, the
speed of employee recruitment, information technology development and policy changes
from regulators.
August 2014
Disclaimer:

BBRI Bank Rakyat Indonesia (Persero) Tbk.
4 | 273.5T | 5.41% | 23.26%
1 | 55.6T | 6.58% | 6.58%

Established Date : 16-Dec-1895 1. Negara Republik Indonesia 14,000,000,000 : 56.75%
Under Writer IPO :
PT Bahana Securuties DIVIDEND ANNOUNCEMENT
F/I
Puri Datindo - Wisma Sudirman 2003 84.19 06-Jul-04 07-Jul-04 09-Jul-04 23-Jul-04 F
Fax : (021) 570-9026 2006 5:1 173.04 13-Jun-07 14-Jun-07 18-Jun-07 02-Jul-07 F
2007 196.34 18-Jun-08 19-Jun-08 23-Jun-08 07-Jul-08 F
1. Bunasor Sanim *) 2009 132.08 28-Jun-10 29-Jun-10 01-Jul-10 15-Jul-10 F
2. Adhyaksa Dault *) 2010 45.93 17-Dec-10 20-Dec-10 22-Dec-10 30-Dec-10 I
3. Ahmad Fuad *) 2010 70.04 27-May-11 30-May-11 01-Jun-11 15-Jun-11 F
4. Dwijanti Tjahjaningsih 2011 122.28 26-Apr-12 27-Apr-12 01-May-12 15-May-12 F
5. Hermanto Siregar *) 2012 225.23 26-Mar-13 27-Mar-13 01-Apr-13 15-Apr-13 F
6. Heru Lelono 2013 257.33 28-Apr-14 29-Apr-14 02-May-14 14-May-14 F
7. Mustafa Abubakar *)
8. Vincentius Sonny Loho ISSUED HISTORY
*) Independent Commissioners Listing Trading
BOARD OF DIRECTORS 1. First Issue 4,764,705,000 10-Nov-03 10-Nov-03
1. Sofyan Basir 2. Company Listing 6,882,352,950 T: 10-Nov-03 : 31-May-04
2. Achmad Baiquni 3. MSOP Conversion 114,572,000 T: 24-Nov-04 : 11-Nov-05
3. Agus Toni Soetirto 4. MSOP Conversion I & II 333,519,000 T: 16-Nov-05 : 18-Oct-07
4. Asmawi Syam 5. MSOP Conversion II 8,879,000 T: 25-Sep-06 : 12-Nov-09
5. Djarot Kusumayakti 6. MSOP Conversion I, II & III 59,421,500 T: 23-Nov-06 : 27-Dec-07
6. Gatot Mardiwasisto 7. MSOP Conversion II & III 36,021,500 T: 24-Nov-06 : 26-Jun-09
7. Lenny Sugihat 8. MSOP Conversion I 256,500 T: 09-Jan-07 : 26-May-08
8. Randi Anto 9. MSOP Conversion III 11,609,000 T: 25-Jun-07 : 15-Nov-10
9. Sarwono Sudarto 10. MSOP Conversion I & III 2,493,500 T: 21-Nov-07 : 08-Aug-08
10. Sulaiman Arif Arianto 11. MSOP Conversion I & II 199,500 T: 27-Mar-08 : 27-May-08
11. Suprajarto 12. MSOP Conversion III 2,227,000 T: 05-Aug-08 : 22-Dec-08
13. MSOP Conversion I 532,500 T: 28-Aug-08 : 13-Nov-08
AUDIT COMMITTEE 14. MSOP Conversion II 49,500 T: 02-Sep-08 : 14-Oct-08
1. Bunasor Sanim 15. MSOP Conversion I & II 95,500 11-Nov-08 11-Nov-08
2. Adhyaksa Dault 16. Delisting of shares Negara RI -5,698,760 07-Jan-11 07-Jan-11
3. Ahmad Fuad 17. Stock Split 12,211,235,190 11-Jan-11 11-Jan-11
4. Dedi Budiman Hakim
5. H.C. Royke Singgih HEAD OFFICE
6. Hermanto Siregar Jln. Puloayang Raya Blok OR - I,
7. Syahrir Nasution Kawasan Industri Pulogadung
8. Vincentius Sonny Loho Jakarta - 13930
Phone : (021) 461-6555
CORPORATE SECRETARY Fax : (021) 461-6682, (021) 461-6689
Rudy
Homepage : www.astra-agro.co.id
Email : Investor@astra-agro.co.id

TRADING ACTIVITIES
Bank Rakyat Indonesia (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
12,000 160 Jan-10 8,300 7,500 7,650 18,811 340,767 2,662,527 20
Feb-10 7,700 6,950 7,150 20,338 348,268 2,560,878 19
10,500 140 Mar-10 8,450 7,100 8,250 27,637 615,677 4,736,692 22
Apr-10 9,050 7,950 8,950 24,877 530,633 4,529,233 21
May-10 9,100 7,600 8,600 21,790 469,303 3,908,927 19
9,000 120
Jun-10 9,750 8,300 9,300 12,801 321,511 2,873,248 22
Jul-10 10,150 9,000 9,900 13,978 337,411 3,259,346 22
7,500 100
Aug-10 9,850 8,800 9,300 26,105 447,646 4,199,651 21
Sep-10 10,800 9,350 10,000 23,114 371,217 3,697,678 17
6,000 80
Oct-10 11,900 9,850 11,400 26,113 325,997 3,506,412 21
Nov-10 12,800 10,500 10,500 25,045 359,466 4,199,435 21
4,500 60 Dec-10 11,700 9,800 10,500 37,298 451,843 4,792,357 20
3,000 40 Jan-11 10,750 4,550 4,850 61,584 1,216,289 7,347,324 21

Feb-11 5,000 4,525 4,700 40,858 826,733 3,940,203 18
1,500 20 Mar-11 5,800 4,725 5,750 49,894 902,204 4,679,484 23
Apr-11 6,650 5,650 6,450 40,870 822,859 5,088,510 20
May-11 6,600 6,000 6,350 51,052 872,410 5,479,711 21
Jun-11 6,550 6,100 6,500 32,120 568,618 3,613,773 20
Jul-11 6,950 6,500 6,900 39,796 846,164 5,683,819 21
Aug-11 7,250 6,000 6,550 65,988 1,085,504 7,162,598 19
Sep-11 7,000 5,000 5,850 83,219 1,302,285 7,936,656 20
January 2010 - July 2014 Dec-11 7,050 6,350 6,750 33,776 482,459 3,228,750 21
210%
Jan-12 7,200 6,750 6,850 34,105 648,419 4,500,394 21
187.2%
180% Feb-12 7,250 6,550 6,900 43,956 881,221 6,030,387 21
Mar-12 7,050 6,400 6,950 62,379 955,267 6,378,821 21
150% Apr-12 7,150 6,450 6,650 35,173 698,250 4,789,501 20
May-12 6,700 5,600 5,650 68,285 1,252,556 7,711,374 21
120% Jun-12 6,350 5,150 6,350 50,200 914,692 5,396,595 21
119.7%
Jul-12 7,050 6,250 7,000 44,178 824,887 5,468,998 22
97.6% Aug-12 7,550 6,650 6,950 31,723 669,590 4,725,231 19
90%
Sep-12 7,500 6,900 7,450 33,450 576,211 4,172,024 20
Oct-12 7,850 7,300 7,400 33,323 627,187 4,743,720 22
60%
Nov-12 7,350 7,000 7,050 43,834 731,065 5,243,316 20
Dec-12 7,250 6,800 6,950 33,266 505,350 3,540,891 18
30%
Jan-13 8,000 7,000 7,950 49,574 820,165 6,223,729 21

- Feb-13 9,450 7,900 9,450 38,683 620,764 5,227,378 20
Mar-13 9,450 8,500 8,750 47,866 684,003 5,985,374 19
-30% Apr-13 9,400 8,250 9,400 45,151 778,102 6,767,136 22
Jun-13 8,850 7,050 7,750 92,127 1,301,703 10,051,448 19
Jul-13 8,350 7,150 8,250 61,555 762,741 5,927,722 23
SHARES TRADED 2010 2011 2012 2013 Jul-14 Aug-13 8,450 6,250 6,600 75,898 1,110,192 7,784,877 17
Days 245 247 246 244 137 Dec-13 7,750 6,750 7,250 60,169 589,234 4,213,752 19
Price (Rupiah) Jan-14 8,850 7,000 8,325 87,119 934,659 7,534,215 20

High 12,800 10,750 7,850 9,950 12,200 Feb-14 9,850 8,125 9,275 87,543 1,015,064 9,180,632 20
Low 6,950 4,525 5,150 6,200 7,000 Mar-14 10,500 9,025 9,575 111,431 903,601 8,566,209 20
Close 10,500 6,750 6,950 7,250 11,200 Apr-14 10,250 9,350 9,900 103,234 844,361 8,340,740 20
Close* 5,250 6,750 6,950 7,250 11,200 May-14 11,050 9,950 10,200 68,949 556,095 5,802,044 18
Jun-14 10,400 9,850 10,325 73,158 668,924 6,771,119 21
PER (X) 11.29 10.89 9.18 8.69 11.76 Jul-14 12,200 10,100 11,200 91,236 838,066 9,411,432 18
PER Industry (X) 16.00 6.61 6.58 17.01 21.95
PBV (X) 3.53 3.34 2.64 2.43 3.25

Cash on Hand 9,975,712 10,525,973 13,895,464 19,171,778 16,249,069 650,000

22,514,663 33,917,516 41,136,880 42,673,665 40,043,510 520,000
Loans 232,972,784 269,454,726 336,081,042 419,144,730 446,686,857
390,000
Investment 133,888 164,689 196,742 222,851 239,091
Fixed Assets 1,568,945 1,852,818 2,804,366 3,972,612 4,729,022
260,000
Other Assets 4,880,779 5,293,505 5,961,840 7,004,037 10,494,026
Total Assets 404,285,602 469,899,284 551,336,790 626,182,926 643,484,287 130,000
Growth (%) 16.23% 17.33% 13.58% 2.76%
-
Deposits 338,812,712 388,288,508 452,945,001 507,972,602 514,263,623 2010 2011 2012 2013 Jun-14
Taxes Payable 1,930,923 1,105,997 895,695 1,266,018 405,725
Fund Borrowings 8,454,545 13,097,916 10,888,755 9,084,913 6,795,444
Growth (%) 14.27% 15.80% 12.42% 2.12% 85,048 79,327
64,882
67,698
Paid up Capital 6,167,291 6,167,291 6,167,291 6,167,291 6,167,291 49,820

50,349

Par Value 500 250 250 250 250 32,999

Total Equity 36,673,110 49,820,329 64,881,779 79,327,422 85,048,239 15,649
Growth (%) 35.85% 30.23% 22.26% 7.21%

-1,701
2010 2011 2012 2013 Jun-14

Growth (%) 7.96% 3.00% 19.86%
5,544,533 5,775,975 8,389,732 8,348,459 3,891,164

59,461

48,164
44,615
35,034
Growth (%) 22.10% 28.99% 15.19% 35,201
Non-Operating Revenues 506,229 1,171,650 1,177,034 1,782,489 1,111,462

23,071

10,941
Profit for the period 11,472,385 15,087,996 18,687,380 21,354,330 11,749,515 -1,189
Growth (%) 31.52% 23.86% 14.27% 2010 2011 2012 2013 Jun-14

21,354
18,687
21,354
RATIOS Dec-10 Dec-11 Dec-12 Dec-13 Jun-14

Dividend (Rp) 115.97 122.28 225.23 257.33 - 16,998
15,088
EPS (Rp) 930.10 611.41 757.26 865.22 476.04 11,472 11,750

2,973.19 2,019.54 2,630.08 3,215.65 3,447.55
12,642
BV (Rp)
DAR (X) 0.91 0.89 0.88 0.87 0.87 8,285
DER(X) 10.02 8.43 7.50 6.89 6.57

ROA (%) 2.84 3.21 3.39 3.41 1.83 3,929
ROE (%) 31.28 30.28 28.80 26.92 13.82

OPM (%) 32.28 36.51 45.72 43.94 39.18
-427
2010 2011 2012 2013 Jun-14

NPM (%) 25.71 31.33 37.67 35.91 33.54
Payout Ratio (%) 12.47 20.00 29.74 29.74 -
Yield (%) 1.10 1.81 3.24 3.55 -

COMPANY REPORT
BBTN
BANK TABUNGAN NEGARA (PERSERO) TBK.
Company Profile
PT Bank Tabungan Negara (Persero) Tbk. –or Bank BTN– was established in 1897 under the
name of Postspaar Bank. The name was changed to Bank Tabungan Pos in 1950 and finally
became Bank Tabungan Negara in 1963. Bank BTN successfully done The Initial Public
Offering (IPO) and listed on the Indonesia Stock Exchange on 17 December 2009, and was
the first Indonesian bank to securitize mortgage through Asset Backed Securities -
Collective Investment Contracts (KIK-EBA) scheme.
Bank BTN is a fully commercial bank that focuses on the housing finance. Bank BTN has
been doing mortgage business for more than six decades of consistency by providing a
variety of housing products and services, particularly through the Home Ownership Loan
(mortgage), both Subsidized Mortgages for lower-middle segment as well as Non-
Subsidized Mortgages for middle and upper segments.
As of June 30, 2014, the Bank has 87 branches (including 22 sharia branches), 244 sub-
branches (including 21 sharia sub-branches), 486 cash offices (including 7 sharia cash
offices), and 2,922 SOPPs (System on-line Payment Point/on-line Post office).
August 2014
Disclaimer:

BBTN Bank Tabungan Negara (Persero) Tbk.
80 | 11.3T | 0.22% | 82.97%
25 | 8.82T | 1.04% | 59.38%

Established Date : 30-Nov-1934 1. Negara Republik Indonesia 6,354,000,000 : 60.14%
Listing Date : 17-Dec-2009 2. Public (<5%) 4,105,513,000 : 39.86%
Under Writer IPO :
PT Mandiri Sekuritas DIVIDEND ANNOUNCEMENT
PT CIMB Securities Indonesia Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2009 15.09 10-Jun-10 11-Jun-10 15-Jun-10 29-Jun-10 F
Puri Datindo - Wisma Sudirman 2010 31.19 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2011 25.31 10-May-12 11-May-12 15-May-12 30-May-12 F
Phone : (021) 570-9009 2012 38.74 26-Apr-13 29-Apr-13 01-May-13 10-May-13 F
Fax : (021) 570-9026 2013 44.36 18-Mar-14 19-Mar-14 21-Mar-14 07-Apr-14 F
BOARD OF COMMISSIONERS ISSUED HISTORY

1. Mardiasmo *) Listing Trading
2. Agung Kuswandono No. Type of Listing Shares Date Date
3. Amanah Abdulkadir *) 1. First Issue 2,360,057,000 17-Dec-09 17-Dec-09
4. Herman Hidayat 2. Company Listing 6,263,228,575 17-Dec-09 17-Dec-09
5. Maulana Ibrahim *) 3. MESOP Conversion I 122,369,000 T: 08-Feb-11 : 13-Aug-14
6. Sahala Lumban Gaol *) 4. MESOP Conversion I & II 5,670,000 T: 06-Feb-12 : 14-Aug-14
*) Independent Commissioners 5. MESOP Conversion I 1,999,000 T: 14-Feb-12 : 16-Mar-12
6. Right Issue 1,497,728,925 07-Dec-12 07-Dec-12
BOARD OF DIRECTORS 7. MESOP Conversion I, II & III 208,387,000 T: 07-Feb-13 : 17-Jul-13
1. Maryono 8. MESOP Conversion II & III 159,500 T: 14-Mar-14 : 17-Mar-14
2. Hulmansyah 9. MESOP Conversion III 104,500 T: 19-Mar-14 : 23-Jul-14
3. Iman Nugroho Soeko 10. MESOP Conversion II 11,500 T: 22-Jul-14 : 19-Aug-14
4. Irman Alvian Zahiruddin 11. MESOP Conversion I & III 2,081,000 20-Aug-14 20-Aug-14
5. Mansyur Syamsuri Nasution
6. Rico Rizal Budidarmo
AUDIT COMMITTEE
1. Sahala Lumban Gaol
2. Maulana Ibrahim
3. Sondang Gayatri
4. Waldy Gutama
CORPORATE SECRETARY
Eko Waluyo
HEAD OFFICE
Menara Bank BTN
Jln. Gajah Mada No. 1
Jakarta - 10130
Phone : (021) 633-6789, 633-2666
Fax : (021) 633-6719
Homepage : www.btn.co.id
Email : eko.waluyo@btn.co.id

TRADING ACTIVITIES
Bank Tabungan Negara (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
2,000 1,600 Jan-10 1,070 830 1,060 25,121 1,224,881 1,173,575 20
Feb-10 1,100 1,000 1,060 16,222 585,934 620,401 19
1,750 1,400 Mar-10 1,350 1,010 1,330 16,767 771,893 894,629 22
Apr-10 1,650 1,320 1,550 29,265 807,174 1,214,725 21
May-10 1,550 1,100 1,360 46,190 1,310,820 1,707,502 19
1,500 1,200
Jun-10 1,750 1,280 1,700 31,961 898,843 1,320,631 22
Jul-10 1,990 1,670 1,950 33,031 798,722 1,459,855 22
1,250 1,000
Aug-10 1,960 1,800 1,810 24,110 485,391 903,376 21
Sep-10 1,920 1,800 1,820 21,490 462,247 854,857 17
1,000 800
Oct-10 2,050 1,820 1,990 27,340 470,454 911,294 21
Nov-10 2,025 1,740 1,750 11,578 214,922 411,218 21
750 600 Dec-10 1,880 1,560 1,640 18,377 313,618 533,092 20
500 400 Jan-11 1,780 1,180 1,330 34,997 868,919 1,245,353 21

Feb-11 1,440 1,260 1,330 14,140 411,907 555,751 18
250 200 Mar-11 1,710 1,340 1,680 26,923 695,738 1,055,066 23
Apr-11 1,790 1,660 1,710 12,729 309,689 536,800 20
May-11 1,720 1,590 1,660 12,410 198,403 327,942 21
Jun-11 1,700 1,590 1,690 8,329 173,340 285,095 20
Jul-11 1,820 1,620 1,700 22,042 470,080 809,924 21
Aug-11 1,740 1,350 1,560 13,235 205,907 322,612 19
Sep-11 1,620 1,000 1,210 16,853 278,246 347,429 20
Finance Index Nov-11 1,490 1,210 1,250 20,559 276,832 376,344 22
January 2010 - July 2014 Dec-11 1,290 1,180 1,210 6,786 118,683 145,472 21
175%
Jan-12 1,270 1,180 1,200 11,071 302,240 369,927 21
150% Feb-12 1,250 1,160 1,220 8,442 170,762 205,487 21
Mar-12 1,220 1,160 1,200 3,803 62,277 74,561 21
125% Apr-12 1,440 1,200 1,380 14,473 365,152 486,519 20
119.7%
May-12 1,390 1,190 1,200 5,250 81,787 107,075 21
100% Jun-12 1,400 1,130 1,290 6,698 139,270 177,699 21
97.6%
Jul-12 1,380 1,240 1,370 7,747 193,721 255,431 22
Aug-12 1,420 1,280 1,310 5,178 119,668 162,886 19
75%
Sep-12 1,460 1,250 1,440 12,362 317,570 423,906 20
Oct-12 1,650 1,360 1,520 12,271 306,185 452,863 22
50%
Nov-12 1,720 1,420 1,610 15,597 1,585,209 2,241,325 20
33.7% Dec-12 1,610 1,440 1,450 9,276 308,764 476,736 18
25%
Jan-13 1,640 1,450 1,620 12,496 502,676 774,616 21

- Feb-13 1,680 1,530 1,630 16,891 460,352 741,687 20
Mar-13 1,740 1,610 1,700 15,925 556,705 936,218 19
-25% Apr-13 1,720 1,470 1,490 13,858 462,242 745,326 22
Jun-13 1,400 1,010 1,150 19,347 347,074 411,522 19
Jul-13 1,250 1,020 1,040 17,377 380,644 430,266 23
SHARES TRADED 2010 2011 2012 2013 Jul-14 Aug-13 1,200 880 950 12,813 270,433 285,056 17
Volume (Million Sh.) 8,345 4,233 3,953 4,831 7,701 Sep-13 1,160 840 930 29,196 430,902 418,199 21
Value (Billion Rp) 12,005 6,305 5,434 6,396 8,819 Oct-13 1,030 910 970 17,269 337,041 325,799 21
Frequency (Thou. X) 301 203 112 200 262 Nov-13 1,020 900 970 10,701 240,433 230,220 20
Days 245 247 246 244 137 Dec-13 990 820 870 10,010 155,875 145,999 19
Price (Rupiah) Jan-14 970 835 900 18,385 275,674 252,515 20

High 2,050 1,820 1,720 1,740 1,525 Feb-14 1,145 890 1,080 37,825 1,429,330 1,502,277 20
Low 830 1,000 1,130 820 835 Mar-14 1,355 1,015 1,285 39,910 1,270,021 1,539,871 20
Close 1,640 1,210 1,450 870 1,080 Apr-14 1,525 1,140 1,155 55,199 1,598,310 2,048,453 20
Close* 1,577 1,163 1,450 870 1,080 May-14 1,175 1,070 1,090 36,625 903,411 1,011,693 18
Jun-14 1,090 980 1,040 25,604 570,012 589,252 21
PER (X) 15.60 10.42 11.06 6.52 10.59 Jul-14 1,230 1,030 1,080 48,574 1,654,735 1,874,974 18
PER Industry (X) 16.00 6.61 6.58 17.01 21.95
PBV (X) 2.22 1.46 1.46 0.83 0.98

Cash on Hand 362,769 512,399 694,941 924,451 740,709 137,500

928,357 733,953 1,013,796 4,201,682 5,896,032 110,000
Loans 47,977,801 62,619,586 75,410,705 99,330,214 105,183,476
82,500
Investment - - - - -
Fixed Assets 1,460,837 1,497,455 1,582,812 1,522,724 1,496,499
55,000
Other Assets 512,830 626,938 759,956 783,770 1,184,766
Total Assets 68,385,539 89,121,459 111,748,593 131,169,730 135,623,126 27,500
Growth (%) 30.32% 25.39% 17.38% 3.40%
-
Deposits 48,104,318 62,762,985 81,374,686 96,482,879 101,395,978 2010 2011 2012 2013 Jun-14
Taxes Payable - - - - -
Fund Borrowings 3,399,787 5,695,307 6,737,260 7,073,035 7,516,750
Total Liabilities 61,938,261 81,799,816 101,469,722 119,612,977 124,004,545 11,557 11,619
Growth (%) 32.07% 24.05% 17.88% 3.67% 11,619
10,279

9,248
7,322
Paid up Capital 4,357,029 4,404,536 5,178,220 5,282,427 5,282,630 6,447
6,878

Par Value 500 500 500 500 500 4,508

Total Equity 6,447,278 7,321,643 10,278,871 11,556,753 11,618,581 2,138
Growth (%) 13.56% 40.39% 12.43% 0.53%

-232
2010 2011 2012 2013 Jun-14

Growth (%) 16.27% 16.71% 22.27%
487,890 512,017 571,494 763,983 380,020

10,783
Other Operating Revenue

8,819
7,556
Income from Operations 1,263,717 1,525,749 1,870,969 2,135,909 742,721 6,499 6,193
Growth (%) 20.74% 22.63% 14.16% 6,383
Non-Operating Revenues -13,495 -3,489 -7,767 4,862 -1,634

4,184
Income Before Tax 1,250,222 1,522,260 1,863,202 2,140,771 741,087

Provision for Income Tax 334,284 403,599 499,240 578,610 202,242
1,984
Profit for the period 915,938 1,118,661 1,363,962 1,562,161 538,845 -216
Growth (%) 22.13% 21.93% 14.53% 2010 2011 2012 2013 Jun-14
Period Attributable - - 1,363,962 1,562,161 538,845

Comprehensive Income 915,938 1,026,201 1,357,839 1,443,057 530,020 PROFIT FOR THE PERIOD (Bill. Rp)
Comprehensive Attributable - - - 1,443,057 530,020
1,562
1,364
Dividend (Rp) 31.19 25.31 38.74 44.36 - 1,243
1,119
EPS (Rp) - - 131.70 147.86 51.00 916
739.87 831.15 992.51 1,093.89 1,099.70

925
BV (Rp)
DAR (X) 0.91 0.92 0.91 0.91 0.91 606
539
DER(X) 9.61 11.17 9.87 10.35 10.67
ROA (%) 1.34 1.26 1.22 1.19 0.40 287
ROE (%) 14.21 15.28 13.27 13.52 4.64

OPM (%) 19.45 20.19 21.22 19.81 11.99
-31
2010 2011 2012 2013 Jun-14

NPM (%) 14.09 14.80 15.47 14.49 8.70
Payout Ratio (%) 29.41 30.00 -
Yield (%) 1.90 2.09 2.67 5.10 -

COMPANY REPORT
BDMN
BANK DANAMON INDONESIA TBK.
Company Profile
PT Bank Danamon Indonesia, Tbk. (‘Danamon’) was established in 1956 and as of June 30,
2014 operates a network of more than 2,400, including among others conventional
branches, Danamon Simpan Pinjam (DSP) and Syariah units as well as its subsidiaries
branches, in addition to over 1,400 ATMs and cash deposit machines.
Danamon focuses on serving the mass market segments, particularly the micro enterprises
sector through DSP. Danamon also has a significant presence in the small and medium
enterprises (SME) and provides products and services for the commercial, corporate,
Syariah, and retail segments.
In addition to banking products and services, Danamon also provide financing and
insurance through its three subsidiaries. PT Adira Dinamika Multi Finance Tbk (Adira
Finance), the leading automotive financing company in Indonesia; PT Asuransi Adira
Dinamika (Adira Insurance), a general and health insurance company; and PT Adira
Quantum Multifinance (Adira Kredit), a durable goods financing company.
Danamon was recently ranked second in the Annual Report Award 2012 held by the
Financial Services Authority (OJK) and Bank Indonesia (BI) in the Private Financial Listed
category. Danamon was also awarded the Top 10 Publicly Listed Company with the highest
Good Corporate Governance (GCG) ASEAN Scorecard by Institute for Corporate
Directorship (IICD). Internationally, Danamon was included in the 2013 Forbes Global 2000,
which is a list of the world’s biggest public companies as compiled by Forbes Magazine.
For its 2014 strategy, Danamon will maintain its lending focus in micro, small and medium
enterprises as well as commercial, trade finance, and the automotive segments. In terms of
funding strategy, Danamon is implementing a clear marketing strategy to attract customer
deposits through champion products and utilizing the existing network to achieve synergies
in funding collection.
August 2014
Disclaimer:

BDMN Bank Danamon Indonesia Tbk.
28 | 36.6T | 0.72% | 64.55%
70 | 2.62T | 0.31% | 86.43%

Established Date : 16-Jul-1956 1. JPMCB-Franklin Templeton Investment Funds -2157804 620,608,888 : 6.48%
Listing Date : 06-Dec-1989 2. Asia Financial (Indonesia) Pte. Ltd. 6,457,558,472 : 67.37%
PT Aseam Indonesia
PT IFI DIVIDEND ANNOUNCEMENT
PT Mutual International Finance Corporation Bonus Cash Recording Payment
F/I
Bank Pembangunan Indonesia Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1990 50.00 18-Sep-90 19-Sep-90 26-Sep-90 26-Oct-90 I
PT Raya Saham Registra 1990 150.00 06-Jun-91 07-Jun-91 14-Jun-91 26-Jul-91 F
Plaza Central Building 2nd Fl. 1991 150.00 27-May-92 29-May-92 06-Jun-92 13-Jul-92 F
Phone : (021) 252-5666 1993 1:1 27-Sep-93 28-Sep-93 05-Oct-93 26-Oct-93 B
1994 60.00 05-Jul-95 06-Jul-95 14-Jul-95 14-Aug-95 F
BOARD OF COMMISSIONERS 1995 4:1 08-Jan-96 09-Jan-96 17-Jan-96 15-Feb-96 B
1. Ng Kee Choe 1995 100.00 13-May-96 14-May-96 23-May-96 20-Jun-96 F
2. Ernest Wong Yuen Weng 1996 55.00 15-May-97 16-May-97 27-May-97 25-Jun-97 F
3. Gan Chee Yen 2001 5.85 10-Dec-01 11-Dec-01 19-Dec-01 28-Dec-01 I
4. Made Sukada *) 2002 19.00 16-Dec-02 17-Dec-02 19-Dec-02 27-Dec-02 I
5. Johanes Berchmans Kristiadi Pudjosukanto *) 2002 20.97 27-Jun-03 30-Jun-03 02-Jul-03 09-Jul-03 F
6. Manggi Taruna Habir *) 2003 85.00 18-Mar-04 19-Mar-04 24-Mar-04 08-Apr-04 I
*) Independent Commissioners 2003 39.50 05-May-04 06-May-04 10-May-04 14-May-04 F
2004 178.73 08-Dec-04 09-Dec-04 13-Dec-04 22-Dec-04 I
BOARD OF DIRECTORS 2005 66.65 17-Jun-05 20-Jun-05 22-Jun-05 30-Jun-05
1. Henry Ho Hon Cheong 2005 203.45 15-Jun-06 16-Jun-06 20-Jun-06 04-Jul-06 F
2. Fransiska Oei Lan Siem 2006 132.87 14-May-07 15-May-07 21-May-07 05-Jun-07 I
3. Herry Hykmanto 2007 208.90 16-May-08 17-May-08 22-May-08 05-Jun-08 F
4. Kanchan Keshav Nijasure 2008 90.82 18-Jun-09 19-Jun-09 23-Jun-09 07-Jul-09 F
5. Khoe Minhari Handikusuma 2009 90.97 21-May-10 24-May-10 26-May-10 10-Jun-10 F
6. Michellina Laksmi Triwardhanny 2010 119.87 21-Apr-11 25-Apr-11 27-Apr-11 10-May-11 F
7. Muliadi Rahardja 2011 104.43 19-Apr-12 20-Apr-12 24-Apr-12 08-May-12 F
8. Pradip Chhadva 2012 125.58 30-May-13 31-May-13 04-Jun-13 19-Jun-13 F
9. Satinder Pal Singh Ahluwalia 2013 126.50 30-May-14 02-Jun-14 04-Jun-14 18-Jun-14 F
10. Vera Eve Lim
ISSUED HISTORY
AUDIT COMMITTEE Listing Trading
1. Angela Simatupang No. Type of Listing Shares Date Date
2. Johannes Berchmans Kristiadi Pudjosukanto 1. First Issue 12,000,000 06-Dec-89 06-Dec-89
3. Made Sukada 2. Partial Listing 22,400,000 T: 02-Aug-91 : 09-Aug-91
4. Manggi Taruna Habir 3. Bonus Shares 146,400,000 T: 15-Nov-93 : 16-Feb-96
5. Yusuf Nawawi 4. Right Issue 220,255,901,301 T: 19-Jan-94 : 28-Sep-11
5. Company Listing 155,200,000 20-May-96 20-May-96
CORPORATE SECRETARY 6. Stock Split 1,120,000,000 23-Jun-97 23-Jun-97
Fransiska Oei Lan Sim 7. Partial Delisting -7,325,068,100 T: 11-Jun-99 : 17-Jul-01
8. Add Listing (Bank PDFCI) 44,921,250,000 04-Jan-00 04-Jan-00
HEAD OFFICE 9. Add Listing (Merger) 230,663,750,000 04-Jul-00 04-Jul-00
Menara Bank Danamon 5th Fl. 10. Reverse Stocks -480,682,079,120 T: 17-Jul-01 : 22-Jan-03
Jln. Prof. DR. Satrio Kav. E4/6 11. Option Conversion 34,886,500 T: 07-Jul-05 : 14-Dec-06
Jakarta - 12950 12. ESOP Conversion I & II 46,979,955 T: 20-Dec-06 : 15-Sep-08
Phone : (021) 579-91001, 579-91002, 57991003 13. ESOP Conversion II 4,813,000 T: 21-Dec-06 : 05-Jul-10
Fax : (021) 579-91056, 579-91160, 579-91161 14. ESOP Conversion I 25,528,645 T: 11-Jan-07 : 30-Jun-09
15. ESOP Conversion I, II & III 24,953,800 T: 04-Jul-07 : 05-Aug-08
Homepage : www.danamon.co.id 16. ESOP Conversion I & III 10,709,800 T: 08-Aug-07 : 08-Oct-09
Email : corpsec@danamon.co.id 17. ESOP Conversion III 12,474,900 T: 09-Aug-07 : 05-Jul-11
18. ESOP Conversion II & III 27,974,450 T: 10-Aug-07 : 30-Jun-10
19. ESOP Conversion I ,II & III 10,721,800 T: 25-May-09 : 02-Nov-09

TRADING ACTIVITIES
Bank Danamon Indonesia Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
6,800 160 Jan-10 5,500 4,500 4,850 11,971 210,289 1,035,947 20
Feb-10 5,250 4,275 4,975 8,549 156,246 748,943 19
5,950 140 Mar-10 5,600 4,925 5,200 9,823 155,844 813,485 22
Apr-10 5,850 5,050 5,800 8,012 156,137 852,641 21
May-10 5,850 4,600 5,150 13,915 192,135 978,883 19
5,100 120
Jun-10 5,550 4,850 5,400 10,532 145,832 759,263 22
Jul-10 5,800 5,100 5,350 10,029 134,178 733,677 22
4,250 100
Aug-10 5,500 5,050 5,350 8,182 124,817 661,449 21
Sep-10 6,150 5,200 5,800 9,655 162,947 921,656 17
3,400 80
Oct-10 7,100 5,750 6,700 8,444 112,560 699,504 21
Nov-10 7,100 6,050 6,500 6,408 93,494 624,814 21
2,550 60 Dec-10 6,900 5,550 5,700 15,537 155,712 942,856 20
1,700 40 Jan-11 6,300 5,000 5,950 26,593 426,366 2,432,269 21

Feb-11 6,700 5,800 6,400 11,329 251,224 1,566,612 18
850 20 Mar-11 6,750 6,250 6,550 11,838 153,811 989,453 23
Apr-11 6,600 6,100 6,200 15,185 228,125 1,433,474 20
May-11 6,300 5,800 6,200 12,109 135,057 818,527 21
Jun-11 6,200 5,800 6,000 9,351 94,198 564,195 20
Jul-11 6,150 5,300 5,450 15,084 209,474 1,191,173 21
Aug-11 5,650 4,650 5,200 14,471 129,948 680,526 19
Sep-11 5,650 4,325 4,600 18,712 223,155 1,085,833 20
Finance Index Nov-11 5,100 4,275 4,400 10,146 63,837 300,069 22
January 2010 - July 2014 Dec-11 4,500 4,075 4,100 9,886 82,644 371,371 21
150%
Jan-12 4,950 4,050 4,525 14,610 149,484 682,866 21
125% Feb-12 4,875 4,150 4,475 14,160 105,397 481,623 21
119.7%
Mar-12 4,675 4,250 4,600 11,739 92,658 415,994 21
100% Apr-12 6,900 5,100 5,600 15,866 335,437 2,105,800 19
97.6%
May-12 6,050 5,050 5,300 11,053 159,441 908,753 21
75% Jun-12 6,100 4,900 6,000 9,743 184,143 1,061,616 21
Jul-12 6,400 5,800 6,050 9,046 153,355 938,026 22
Aug-12 6,150 5,900 6,000 5,951 55,552 333,483 19
50%
Sep-12 6,250 5,900 6,250 5,758 73,236 444,509 20
Oct-12 6,300 5,950 6,100 5,284 75,858 465,425 22
25%
Nov-12 6,250 5,400 5,400 6,851 85,402 514,273 20
Dec-12 5,800 5,450 5,650 7,807 65,572 361,207 18
-
-14.2% Jan-13 6,150 5,550 6,100 7,571 56,779 335,688 21

-25% Feb-13 6,300 5,850 6,300 7,890 62,369 376,393 20
Mar-13 6,550 5,950 6,450 12,926 137,157 851,929 19
-50% Apr-13 6,500 6,150 6,450 10,178 101,041 633,995 22
Jun-13 5,900 5,350 5,850 19,510 119,021 667,544 19
Jul-13 5,850 4,950 5,200 14,402 71,313 390,928 23
Volume (Million Sh.) 1,800 2,128 1,536 1,358 613 Sep-13 4,225 3,825 3,975 19,112 172,943 711,519 21
Days 245 247 245 244 137 Dec-13 3,950 3,550 3,775 9,151 111,517 446,812 19
Price (Rupiah) Jan-14 4,650 3,590 4,340 25,586 116,578 480,337 20

High 7,100 6,750 6,900 6,550 4,665 Feb-14 4,650 3,900 4,080 23,482 93,886 406,409 20
Low 4,275 3,975 4,050 3,550 3,590 Mar-14 4,430 4,085 4,350 32,710 101,286 434,297 20
Close 5,700 4,100 5,650 3,775 3,855 Apr-14 4,665 4,090 4,090 23,710 99,891 453,749 20
Close* 5,535 4,100 5,650 3,775 3,855 May-14 4,365 4,105 4,160 18,450 64,400 273,738 18
Jun-14 4,405 4,090 4,145 21,248 53,144 226,198 21
PER (X) 16.64 11.65 13.27 9.03 12.41 Jul-14 4,400 3,850 3,855 24,790 83,561 340,451 18
PER Industry (X) 16.00 6.61 6.58 17.01 21.95
PBV (X) 2.60 1.52 1.88 1.19 1.16

Cash on Hand 1,985,338 1,895,058 2,456,567 2,943,909 2,300,086 187,500

5,323,969 4,819,809 7,306,823 7,727,116 7,929,596 150,000
Loans 73,268,325 85,462,799 90,828,149 103,468,254 106,904,509
112,500
Investment 6,150,515 12,175 12,175 1,509,036 1,789,819
Fixed Assets 1,771,489 1,898,695 2,095,756 2,199,165 2,372,946
75,000
Other Assets 3,315,859 3,687,492 3,917,135 - 3,248,669
Total Assets 118,206,573 141,934,432 155,791,308 184,237,348 185,433,371 37,500
Growth (%) 20.07% 9.76% 18.26% 0.65%
-
Deposits 81,580,282 88,792,218 92,722,287 110,856,360 113,287,580 2010 2011 2012 2013 Jun-14
Taxes Payable 183,020 225,311 303,747 234,131 64,603
Fund Borrowings 2,481,832 6,917,352 11,020,112 16,068,471 13,078,034
31,553
Growth (%) 16.57% 5.33% 24.86% 0.65% 31,755
28,733
25,837

25,277
Paid up Capital 5,317,363 5,901,122 5,901,122 5,901,122 10,000,000 18,450

18,799

Par Value 50,000 & 500 50,000 & 500 50,000 & 500 50,000 & 500 50,000 & 500 12,321

Total Equity 18,449,787 25,836,501 28,733,311 31,552,983 31,754,906 5,843
Growth (%) 40.04% 11.21% 9.81% 0.64%

-635
2010 2011 2012 2013 Jun-14

Growth (%) 17.10% 11.70% 6.75%

18,858
3,583,835 4,213,121 4,648,599 5,155,638 2,224,190
20,131

14,418
11,295
Growth (%) 13.06% 18.11% -9.34% 11,917
Non-Operating Revenues -628,533 -623,153 -696,175 -74,945 -34,242

7,811

Provision for Income Tax 1,017,770 1,162,523 1,369,531 1,370,893 502,607
3,704
Growth (%) 15.59% 19.37% 1.02% 2010 2011 2012 2013 Jun-14

4,117 4,159
4,159
119.87 104.43 125.58 126.50 - 2,984

Dividend (Rp)
3,311
EPS (Rp) 342.57 348.08 418.57 421.68 83.71

2,191.93 2,695.61 2,997.85 3,292.04 1,785.75
2,462
BV (Rp)
0.84 0.82 0.78 0.83 0.83 1,534
DAR (X) 1,614
DER(X) 5.40 4.49 4.26 4.84 4.84

ROA (%) 2.52 2.43 2.64 2.26 0.83 765
ROE (%) 16.17 13.35 14.33 13.18 4.83

OPM (%) 32.11 31.01 32.79 27.84 18.34
-83
2010 2011 2012 2013 Jun-14

NPM (%) 20.70 20.43 21.83 20.66 13.58
Payout Ratio (%) 34.99 30.00 30.00 30.00 -
Yield (%) 2.10 2.55 2.22 3.35 -

COMPANY REPORT
BMRI
BANK MANDIRI (PERSERO) TBK.
Company Profile
Bank Mandiri was formed on 2 October 1998, as part of the government of Indonesia’s
bank restructuring program. Bank Mandiri is the largest bank in Indonesia. Bank Mandiri
offers a comprehensive range of financial solutions to private and state-owned large and
medium corporations, small and micro businesses as well as retail consumers.
Amidst the various external challenges, Mandiri Group successfully achieved a number of
important milestones. In connection with the various improvements to business
processes, Mandiri Group conducted disciplined supervision over the micro-financial and
macro-external parameters so as to serve as an early warning system. The supervision
process was carried out proactively based on the principles of good corporate governance
and focused on strengthening the foundations for achieving our goals in our three (3)
business focus areas (wholesale transactions, retail deposits and payments, and retail
financing), as well as internal controls, improved risk management, and enhancements to
infrastructure and human resources.
In line with the product development and the increasing complexity of transactions,
Management has also taken steps to optimize the Internal Audit function, both in
assurance and advisory terms, by enhancing the capacity of auditors. Such capacity is not
just limited to auditing knowledge and skills, but also extends to knowledge of products
and banking operations.
Bank Mandiri commitment in GCG implementation as an effort to grow sustainably,
received appreciation from the general public. In 2013, Bank Mandiri received the status of
The Most Trusted Indonesian Companies in Good Corporate Governance from The
Indonesian Institute for Corporate Governance; which the Bank Mandiri has received for 7
years consecutive years. In addition, Bank Mandiri was awarded the highest predicate as
“Best Financial Institution” in the application of GCG out of approximately 100 public
companies with the largest market capitalizations on the Indonesia Stock Exchange, as
assessed by the IICD. Associated with the success of the Company to maintain the good
governance system, the Company continues its efforts to implement GCG in 5 (five) main
stages: Governance Commitment; Governance Structure; Governance Mechanisms;
Dissemination and Evaluation; and Walking the Talk.
Bank Mandiri also growth through strategic alliances with several major subsidiaries. In
2013, the fifth business subsidiary of Bank Mandiri, Bank Syariah Mandiri, Mandiri
Securities, AXA Mandiri Financial Services, Bank Sinar Harapan Bali, and Mandiri Tunas
Finance experiencing significant growth. Total profits of the five major subsidiaries reached
Rp2 trillion, or about 13.6% of consolidated profits of Bank Mandiri.
August 2014
Disclaimer:

BMRI Bank Mandiri (Persero) Tbk.
6 | 236.8T | 4.69% | 33.23%
3 | 47.5T | 5.61% | 17.87%

Established Date : 02-Oct-1998 1. Negara Republik Indonesia 14,000,000,000 : 60.00%
Listing Date : 14-Jul-2003 2. Public (<5%) 9,099,999,999 : 40.00%
Under Writer IPO :
PT ABN AMRO Asia Securities Indonesia Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2003 50.00 16-Dec-03 17-Dec-03 19-Dec-03 30-Dec-03 I
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2004 60.00 16-Dec-04 17-Dec-04 21-Dec-04 30-Dec-04 I
Phone : (021) 570-9009 2005 70.50 13-Jun-05 14-Jun-05 16-Jun-05 24-Jun-05
Fax : (021) 570-9026 2005 14.85 14-Jun-06 15-Jun-06 19-Jun-06 30-Jun-06 F
2006 70.02 19-Jun-07 20-Jun-07 22-Jun-07 29-Jun-07 F
1. Mahmuddin Yasin *) 2008 88.55 26-May-09 27-May-09 29-May-09 12-Jun-09 F
2. Abdul Azis 2009 19.26 02-Dec-09 03-Dec-09 07-Dec-09 22-Dec-09 I
3. Anton Hermanto Gunawan *) 2010 19.64 21-Dec-10 22-Dec-10 27-Dec-10 30-Dec-10 I
4. Askolani 2010 120.60 15-Jun-11 16-Jun-11 20-Jun-11 30-Jun-11 F
5. Aviliani *) 2011 104.97 15-May-12 16-May-12 22-May-12 05-Jun-12 F
6. Krisna Wijaya *) 2012 199.33 26-Apr-13 29-Apr-13 01-May-13 16-May-13 F
7. Pradjoto *) 2013 234.05 26-Mar-14 27-Mar-14 01-Apr-14 15-Apr-14 F
*) Independent Commissioners
ISSUED HISTORY
BOARD OF DIRECTORS Listing Trading
1. Budi G. Sadikin No. Type of Listing Shares Date Date
2. Abdul Rachman 1. First Issue 2,900,000,000 14-Jul-03 14-Jul-03
3. Fransisca N. Mok 2. Company Listing 16,900,000,000 T: 14-Jul-03 : 30-Dec-03
4. Hery Gunardi 3. MSOP Conversion 598,938,831 T: 26-Jul-04 : 09-Jan-07
5. Kresno Sediarsi 4. Partial delisting 1 % -9,955,000 06-Dec-05 06-Dec-05
6. Ogi Prastomiyono 5. MSOP Conversion I & II 32,316,636 T: 11-Dec-06 : 15-Dec-06
7. Pahala Nugraha Mansury 6. MSOP Conversion I 10,547,213 T: 21-Mar-07 : 16-Jul-08
8. Riswinandi 7. MSOP Conversion I, II & III 105,564,065 T: 10-May-07 : 02-Jun-08
9. Royke Tumilaar 8. MSOP Conversion I & III 129,311,724 T: 14-May-07 : 28-May-08
10. Sentot A. Sentausa 9. MSOP Conversion II & III 32,126,466 T: 14-Nov-07 : 19-May-10
11. Sunarso 10. MSOP Conversion III 86,224,280 T: 19-Nov-07 : 16-Dec-10
11. MSOP Conversion II & III 1,376,402 T: 17-Dec-08 : 08-May-09
AUDIT COMMITTEE 12. MSOP Conversion II 44,125 02-Jun-10 02-Jun-10
1. Krisna Wijaya 13. Right Issue 2,313,505,257 02-Mar-11 02-Mar-11
2. Aviliani
3. Askolani
4. Anton Hermanto Gunawan
5. Budi Sulistio
CORPORATE SECRETARY
Nixon L.P. Napitupulu
HEAD OFFICE
Plaza Mandiri
Jln. Jend. Gatot Subroto Kav. 36 - 38
Jakarta - 12190
Phone : (021) 529-13321, 300-23166
Fax : (021) 526-3460
Homepage : www.bankmandiri.co.id
Email : cma@bankmandiri.co.id

TRADING ACTIVITIES
Bank Mandiri (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
12,000 2,400 Jan-10 4,950 4,500 4,675 22,719 491,391 2,332,239 20
Feb-10 4,725 4,150 4,475 20,417 535,563 2,390,152 19
10,500 2,100 Mar-10 5,650 4,400 5,350 26,160 798,081 3,951,369 22
Apr-10 5,800 4,950 5,800 28,179 1,028,306 5,408,909 21
May-10 5,850 4,700 5,350 27,917 770,414 4,037,840 19
9,000 1,800
Jun-10 6,100 5,100 6,000 22,274 581,387 3,297,928 22
Jul-10 6,300 5,600 6,000 23,214 509,689 3,041,572 22
7,500 1,500
Aug-10 6,100 5,450 5,900 22,731 441,460 2,596,339 21
Sep-10 7,250 5,800 7,200 26,623 500,635 3,241,511 17
6,000 1,200
Oct-10 7,200 6,600 7,000 27,983 539,179 3,698,200 21
Nov-10 7,250 6,350 6,400 22,119 374,801 2,610,067 21
4,500 900 Dec-10 6,900 6,100 6,500 27,959 499,676 3,283,238 20
3,000 600 Jan-11 6,900 5,350 5,950 59,751 1,408,041 8,314,520 21

Feb-11 6,250 5,350 5,800 44,183 2,993,290 16,377,961 18
1,500 300 Mar-11 6,800 5,700 6,800 53,774 1,286,491 7,886,597 23
Apr-11 7,250 6,550 7,150 36,842 775,150 5,336,328 20
May-11 7,350 6,800 7,200 31,537 804,177 5,712,250 21
Jun-11 7,250 6,700 7,200 32,742 542,273 3,787,371 20
Jul-11 8,150 7,150 7,850 34,821 878,996 6,697,558 21
Aug-11 8,100 6,650 6,850 55,412 949,354 6,871,060 19
Sep-11 7,300 5,100 6,300 75,984 1,284,590 8,041,492 20
January 2010 - July 2014 Dec-11 7,000 6,200 6,750 46,300 693,425 4,597,460 21
140%
Jan-12 7,150 6,600 6,700 38,879 724,875 4,954,614 21
120% 119.7% Feb-12 6,750 6,000 6,450 76,926 1,462,741 9,269,521 21
111.7% Mar-12 6,950 6,350 6,850 45,324 984,952 6,573,813 21
100% Apr-12 7,400 6,800 7,400 24,798 676,326 4,780,291 20
97.6%
May-12 7,450 6,650 6,900 23,052 615,116 4,369,398 21
80% Jun-12 7,350 6,550 7,200 24,789 420,561 2,956,044 21
Jul-12 8,300 6,850 8,300 30,999 586,543 4,352,468 22
Aug-12 8,600 7,350 7,800 26,979 398,429 3,208,709 19
60%
Sep-12 8,300 7,600 8,200 31,515 480,997 3,812,109 20
Oct-12 8,400 7,900 8,250 23,531 473,867 3,854,682 22
40%
Nov-12 8,900 8,150 8,250 25,336 417,060 3,548,485 20
Dec-12 8,450 7,700 8,100 38,789 660,905 5,339,337 18
20%
Jan-13 9,050 8,000 9,050 36,696 517,167 4,358,835 21

- Feb-13 10,150 8,700 10,050 33,818 567,187 5,224,978 20
Mar-13 10,050 9,450 10,000 38,478 570,412 5,577,493 19
-20% Apr-13 10,750 9,800 10,500 33,768 525,014 5,402,910 22
Jun-13 9,900 8,250 9,000 68,921 871,631 7,848,472 19
Jul-13 9,050 7,450 8,900 68,683 837,483 7,032,852 23
Days 245 247 246 244 137 Dec-13 8,000 7,300 7,850 41,923 370,112 2,853,587 19
Price (Rupiah) Jan-14 9,525 7,600 8,700 76,373 650,120 5,508,866 20

High 7,250 8,150 8,900 10,750 11,000 Feb-14 9,650 8,400 9,100 76,609 701,451 6,330,151 20
Low 4,150 5,100 6,000 6,250 7,600 Mar-14 10,250 9,000 9,450 87,370 821,343 7,785,861 20
Close 6,500 6,750 8,100 7,850 10,250 Apr-14 10,350 9,525 9,825 83,068 758,989 7,503,307 20
Close* 6,392 6,750 8,100 7,850 10,250 May-14 10,825 9,775 10,175 67,908 527,196 5,392,549 18
Jun-14 10,250 9,625 9,725 62,399 585,096 5,798,770 21
PER (X) 14.81 12.62 11.63 10.73 12.48 Jul-14 11,000 9,625 10,250 87,146 885,176 9,132,248 18
PER Industry (X) 16.00 6.61 6.58 17.01 21.95
PBV (X) 3.29 2.51 2.47 2.19 2.55

Cash on Hand 9,521,713 11,357,523 15,286,190 19,051,934 16,347,441 775,000

27,247,529 12,002,918 10,769,775 26,802,548 34,001,872 620,000
Loans 232,545,259 298,988,258 370,570,356 450,634,798 462,279,892
465,000
Investment 7,218,361 38,785 11,366,225 616,821 713,384
Fixed Assets 5,527,000 6,589,594 7,002,690 7,645,598 7,797,815
310,000
Other Assets 5,384,797 7,249,901 7,339,965 8,908,732 9,762,497
Total Assets 449,774,551 551,891,704 635,618,708 733,099,762 764,938,211 155,000
Growth (%) 22.70% 15.17% 15.34% 4.34%
-
Deposits 369,842,016 397,046,488 456,854,700 521,439,569 541,492,776 2010 2011 2012 2013 Jun-14
Taxes Payable 1,408,798 761,737 2,662,421 2,126,864 554,829
Fund Borrowings 5,634,838 11,703,498 11,608,832 15,997,188 15,951,315
20.00% 14.28% 15.24% -3.44% 88,791
Growth (%)
76,533

74,792
62,654
Paid up Capital 10,498,247 11,666,667 11,666,667 11,666,667 11,666,667
55,625

Par Value 500 500 500 500 500 36,457

Total Equity 41,542,808 62,654,408 76,532,865 88,790,596 93,960,319 17,289
Growth (%) 50.82% 22.15% 16.02% 5.82%

-1,879
2010 2011 2012 2013 Jun-14

Growth (%) 11.19% 12.78% 18.00%
8,432,817 11,768,351 11,897,822 14,686,637 7,073,839

50,209

33,932
39,966

29,291
Growth (%) 18.97% 20.04% 20.01% 29,724
Non-Operating Revenues 230,142 163,102 878,821 510,126 5,312

19,481

9,238
Profit for the period 9,369,226 12,695,885 16,043,618 18,829,934 9,965,554 -1,004
Growth (%) 35.51% 26.37% 17.37% 2010 2011 2012 2013 Jun-14

18,830
18,830
16,044
Dividend (Rp) 140.24 104.97 199.33 234.05 - 14,989
12,696
EPS (Rp) 439.04 524.83 664.46 780.16 410.80
9,369 9,966
1,978.56 2,685.19 3,279.98 3,805.31 4,026.87
11,147
BV (Rp)
DAR (X) 0.91 0.89 0.88 0.88 0.81 7,306
DER(X) 9.81 7.81 7.31 7.26 6.62

ROA (%) 2.08 2.30 2.52 2.57 1.30 3,465
ROE (%) 22.55 20.26 20.96 21.21 10.61

OPM (%) 40.50 43.33 46.12 46.91 42.85
-377
2010 2011 2012 2013 Jun-14

NPM (%) 27.61 33.65 37.70 37.50 34.02
Payout Ratio (%) 31.94 20.00 30.00 30.00 -
Yield (%) 2.16 1.56 2.46 2.98 -

COMPANY REPORT
BMTR
GLOBAL MEDIACOM TBK.
Company Profile
The Company is supported by two main lines of businesses that have generated major
revenue contribution, namely, content and advertising-based media managed by PT Media
Nusantara Citra Tbk. (MNC) and subscription-based media, managed by PT MNC Sky Vision
Tbk (MSKY). Besides content and advertising-based media and subscription-based media,
The Company is also engaged in the investment, infrastructure, new media (news portal
and online home shopping).
The Company focuses targets for its business lines mainly MNC and MNC Sky Vision.
Through FTA TV, MNC targets to be the leading national TV among others by increasing
audience share through broadcasting high quality TV programming and developing content
business. Through SINDOTV, MNC also targets to transform local TV SindoTV into national
TV network by integrating existing 40 regional broadcasters. Through MNC Sky Vision, the
company targets to improve the service quality delivered to the subscribers by providing
and developing exclusive contents to suit market demands and thus to increase subscribers
by enhancing good relationships with new and loyal customers.
The Company has its excellence in providing the srength of its core business (FTA & PayTV)
and broadcast distinguished porgrams that attract more viewership especially women.
Through MSKY, the Company also has a competitive edge as it controls its sales and
distributions and has close to 20 exclusive TV channels, leveraging in particular its local
content library.
August 2014
Disclaimer:

BMTR Global Mediacom Tbk. [S]
Industry Sub Sector : Investment Company (98) Market Capitalization : 27,100,958,496,000
32 | 27.1T | 0.54% | 66.91%
33 | 7.31T | 0.86% | 66.77%

Established Date : 30-Jun-1981 1. PT MNC Investama Tbk. 2,574,323,970 : 18.24%
Listing Date : 17-Jul-1995 2. DB Ag HK S/A PT Bhakti Investama Tbk. Hy-2059974012 3,276,739,030 : 23.21%
PT Makindo
PT Sirca Datapro Perdana Bonus Cash Recording Payment
F/I
Wisma Sirca Year Shares Dividend Cum Date Ex Date Date Date
Jln. Johar No.18, Menteng, Jakarta 10340 1995 15.00 19-Jun-96 20-Jun-96 28-Jun-96 26-Jul-96 F
Phone : (021) 314-0032, 390-5920, 390-0645 1996 20.00 05-May-97 06-May-97 15-May-97 03-Jun-97 F
Fax : (021) 390-0671, 390-0652 1997 4.50 22-Jun-98 23-Jun-98 01-Jul-98 24-Jul-98 F
2000 15.00 28-May-01 29-May-01 01-Jun-01 18-Jun-01 F
1. Rosano Barack 2002 26.00 05-Jun-03 06-Jun-03 10-Jun-03 24-Jun-03 F
2. Bambang Rudijanto Tanoesoedibyo 2003 25.00 11-Jun-04 14-Jun-04 16-Jun-04 30-Jun-04 F
3. Chang Long Jong 2005 1:1 07-Jul-06 10-Jul-06 12-Jul-06 26-Jul-06 S
4. Kardinal Alamsyah Karim *) 2006 4.00 11-Jul-07 12-Jul-07 16-Jul-07 30-Jul-07 F
5. Lei Zhang 2007 14.56 28-Nov-07 29-Nov-07 03-Dec-07 17-Dec-07 I
6. Mohamed Idwan Ganie *) 2008 3.50 06-Nov-09 09-Nov-09 25-Nov-09 25-Nov-09 F
*) Independent Commissioners 2009 5.00 03-Dec-10 06-Dec-10 09-Dec-10 23-Dec-10 F
2010 10.00 06-Dec-11 07-Dec-11 09-Dec-11 23-Dec-11 F
BOARD OF DIRECTORS 2012 24.00 10-Sep-13 11-Sep-13 13-Sep-13 27-Sep-13 F
1. Hary Tanoesoedibjo 2013 25.00 16-Oct-14 17-Oct-14 21-Oct-14 04-Nov-14 F
2. David Fernando Audy
3. Handhianto Suryo Kentjono ISSUED HISTORY
4. Indra Pudjiastuti Prastomiyono Listing Trading
5. Oerianto Guyandi No. Type of Listing Shares Date Date
1. First Issue 200,000,000 T: 17-Jul-95 : 10-Jun-10
AUDIT COMMITTEE 2. Company Listing 760,000,000 T: 17-Jul-95 : 11-Jun-10
1. Kardinal Alamsyah Karim 3. Convertible Bond 57,000,000 T: 17-Jul-95 : 20-Feb-96
2. Hery Kusnanto 4. Option Conversion 1,088,576 T: 30-Apr-02 : 03-Jun-02
3. Mohamed Idwan Ganie 5. ESOP Conversion 84,293,938 T: 20-Jun-02 : 19-Sep-11
6. Right Issue 266,978,118 28-Jul-04 28-Jul-04
CORPORATE SECRETARY 7. Bonus Shares 1,299,013,678 26-Jul-06 26-Jul-06
Syafril Nasution 8. Stock Split 10,417,945,240 24-Apr-07 24-Apr-07
9. Additional Listing without RI 685,168,000 06-Jul-07 06-Jul-07
HEAD OFFICE 10. ESOP Conversion I 43,722,000 T: 17-Mar-11 : 07-Jun-11
MNC Tower 27th - 29th Fl. 11. ESOP Conversion I & II 34,647,500 T: 23-Sep-11 : 12-Mar-12
Jln. Kebon Sirih 17 - 19 12. ESOP Conversion I, II & III 106,578,500 T: 16-Mar-12 : 18-Oct-12
Jakarta 13. ESOP Conversion II & III 5,838,500 28-Sep-12 28-Sep-12
Phone : (021) 390-9211 14. ESOP Conversion II, III, IV & V 62,991,500 29-May-13 29-May-13
Fax : (021) 390-9207, 230-5281, 392-7859 15. Revision ESOP Conversion II, III, IV & V 8,000 21-Jun-13 21-Jun-13
16. ESOP Conversion III, IV & V 21,741,500 27-Nov-13 27-Nov-13
Homepage : www.mediacom.co.id 17. ESOP Conversion IV & V 62,380,500 28-May-14 28-May-14
Email : syafril.nasution@mncgroup.com

TRADING ACTIVITIES
Global Mediacom Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,800 1,600 Jan-10 280 205 250 15,982 928,510 223,415 20
Feb-10 355 225 300 17,452 1,040,610 309,072 19
2,450 1,400 Mar-10 455 265 395 32,188 2,121,127 797,248 22
Apr-10 495 375 410 29,648 1,705,522 729,950 21
May-10 440 295 365 12,280 699,873 273,264 19
2,100 1,200
Jun-10 395 325 330 5,801 219,043 80,701 22
Jul-10 355 295 310 8,392 308,707 99,618 22
1,750 1,000
Aug-10 345 300 315 3,406 173,000 53,931 21
Sep-10 430 305 385 7,265 293,483 111,779 17
1,400 800
Oct-10 540 375 495 17,319 673,415 318,239 21
Nov-10 530 480 480 6,463 230,289 116,162 21
1,050 600 Dec-10 670 460 650 13,305 977,788 592,362 20
700 400 Jan-11 770 560 720 13,084 636,476 415,505 21

Feb-11 900 710 890 8,926 823,568 634,291 18
350 200 Mar-11 900 750 840 13,280 497,457 404,603 23
Apr-11 870 700 750 9,483 368,590 284,932 20
May-11 840 710 840 16,802 1,570,436 1,181,554 21
Jun-11 870 750 840 8,093 1,653,609 1,256,582 20
Jul-11 890 810 870 9,106 289,997 247,567 21
Aug-11 890 700 770 6,066 299,919 232,788 19
Sep-11 890 740 820 8,965 211,406 168,273 20
Trade, Sevices and Investment Index Nov-11 1,070 790 980 17,702 976,165 808,327 22
January 2010 - July 2014 Dec-11 1,140 960 990 14,476 397,335 410,227 21
1,260%
Jan-12 1,120 980 1,110 13,633 207,458 214,242 21
1,080% Feb-12 1,270 1,100 1,260 15,338 231,702 279,612 21
Mar-12 1,660 1,260 1,600 20,226 1,014,874 1,369,969 21
900% Apr-12 1,720 1,570 1,660 19,440 617,944 1,010,682 20
814.3% May-12 1,790 1,240 1,360 26,969 1,268,031 2,101,421 21
720% Jun-12 1,560 1,220 1,520 42,500 633,907 901,986 21
Jul-12 1,750 1,470 1,750 43,064 1,358,234 2,123,331 22
Aug-12 1,820 1,710 1,750 27,220 347,523 614,668 19
540%
Sep-12 2,075 1,750 2,050 40,318 651,200 1,225,051 20
Oct-12 2,375 2,050 2,275 49,594 1,949,320 4,263,509 22
360%
Nov-12 2,450 2,100 2,400 36,243 825,913 1,868,399 20
225.5% Dec-12 2,625 2,300 2,400 23,246 512,440 1,265,081 18
180%
97.6% Jan-13 2,575 2,150 2,175 46,238 522,750 1,240,680 21
- Feb-13 2,350 2,050 2,300 55,245 480,534 1,079,567 20
Mar-13 2,550 2,275 2,325 34,193 627,244 1,518,188 19
-180% Apr-13 2,400 2,050 2,175 38,596 460,369 1,017,507 22
Jun-13 2,600 1,860 2,150 46,999 857,900 1,830,708 19
Jul-13 2,550 1,860 2,300 40,269 1,050,215 2,260,063 23
Days 245 247 246 244 137 Dec-13 2,000 1,810 1,900 24,458 240,075 460,216 19
Price (Rupiah) Jan-14 1,950 1,780 1,850 29,385 195,531 364,107 20

High 670 1,140 2,625 2,800 2,500 Feb-14 2,185 1,745 2,185 34,222 170,355 327,917 20
Low 205 560 980 1,370 1,745 Mar-14 2,500 2,115 2,350 36,263 293,514 694,364 20
Close 650 990 2,400 1,900 1,920 Apr-14 2,405 2,100 2,190 42,963 559,651 1,270,060 20
Close* 650 990 2,400 1,900 1,920 May-14 2,290 2,050 2,050 47,499 551,725 1,208,378 18
Jun-14 2,200 2,000 2,125 84,349 985,902 2,107,593 21
PER (X) 15.46 70.40 16.21 31.68 26.75 Jul-14 2,145 1,900 1,920 42,640 663,996 1,341,742 18
PER Industry (X) 21.27 16.89 19.08 15.43 18.07
PBV (X) 1.21 1.63 2.34 1.86 1.78

Public Accountant : Osman Bing Satrio & Eny (Member of Deloitte Touche Tohmatsu Limited)
Cash & Cash Equivalents 1,141,628 1,165,245 952,529 1,529,588 1,040,223 22,500
Receivables 2,453,904 2,407,692 3,113,957 3,630,541 3,732,565

1,106,101 1,134,041 1,636,122 1,803,445 1,895,525 18,000
Inventories
Current Assets 5,937,277 6,085,670 10,781,083 9,748,947 9,599,627
13,500
Fixed Assets 2,793,271 2,668,000 3,734,879 4,906,183 5,298,904
Other Assets 551,502 534,326 605,330 824,763 719,755
9,000
Total Assets 12,959,942 13,129,083 19,995,526 21,069,471 22,060,499
Growth (%) 1.31% 52.30% 5.37% 4.70% 4,500

Growth (%) -0.08% 20.21% 35.38% -10.95%
Paid up Capital 1,377,021 1,379,116 1,396,796 1,405,270 1,411,508 15,189
14,296
13,353
Par Value 100 100 100 100 100
12,090

7,382
8,992
Total Equity 7,381,739 8,387,455 14,295,756 13,353,037 15,188,923

Growth (%) 13.62% 70.44% -6.59% 13.75% 5,893
Total Revenues 6,326,514 1,573,888 8,925,419 10,019,977 5,277,197

Growth (%) -75.12% 467.09% 12.26%
-304
2010 2011 2012 2013 Jun-14
Cost of Revenues 4,846,631 1,143,270 4,753,060 5,486,919 3,043,040

Gross Profit 1,479,883 430,618 4,172,359 4,533,058 2,234,157
Expenses (Income) 4,846,631 1,143,270 1,610,968 3,021,595 1,007,381
Operating Profit 1,479,883 430,618 - - - 10,020
8,925
10,020
Growth (%) -70.90% N/A

7,976
Other Income (Expenses) -284,191 -54,156 - - - 6,327

Income before Tax 1,195,599 376,462 2,561,391 1,511,463 1,226,775 5,932 5,277
Tax 345,087 94,283 567,902 481,817 337,424

Profit for the period 850,512 1,163,770 1,993,489 1,029,646 889,351
3,888
Growth (%) 36.83% 71.30% -48.35% 1,574

1,844
Period Attributable 578,865 779,363 1,299,085 620,395 506,466 -200
Comprehensive Income 786,373 1,190,493 2,068,219 1,101,619 816,697 2010 2011 2012 2013 Jun-14
Comprehensive Attributable 533,904 796,711 1,369,492 692,368 433,812
Current Ratio (%) 185.68 188.80 434.44 264.84 337.90
1,993
Dividend (Rp) 10.00 - 24.00 25.00 - 1,993
EPS (Rp) 42.04 56.51 93.00 44.15 35.88

BV (Rp) 536.07 608.18 1,023.47 950.21 1,076.08 1,587
DAR (X) 0.37 0.36 0.29 0.37 0.31 1,164

1,180
1,030
DER(X) 0.64 0.57 0.40 0.58 0.45 851 889
ROA (%) 6.56 8.86 9.97 4.89 4.03 773
ROE (%) 11.52 13.88 13.94 7.71 5.86

GPM (%) 23.39 27.36 46.75 45.24 42.34 367
OPM (%) 23.39 27.36 - - -

NPM (%) 13.44 73.94 22.33 10.28 16.85
-40
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 23.79 - 25.81 56.63 -
Yield (%) 1.54 - 1.00 1.32 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
BSDE
BUMI SERPONG DAMAI TBK.
Company Profile
PT Bumi Serpong Damai Tbk., which is also part of Sinar Mas Land, was established in 1984.
Nowadays, the Company has become a leading property developer in Indonesia with the
main property projects situated in Serpong (BSD City), and diversifying to Jakarta, Bekasi,
Cibubur, Surabaya, Medan and Balikpapan, also expanding to Samarinda, Manado and
Palembang.
Since 2008, the Company has become a public company that listed in the Indonesia Stock
Exchange, with the market capitalization of Rp27.28 trillion as of 30 June 2014. In end of
2010, the Company has done the acquisition process on affiliated companies in PT Duta
Pertiwi Tbk., PT Sinar Mas Teladan and PT Sinar Mas Wisesa. The acquisition is expected to
increase Company’s performance particularly due to higher revenue portfolio and business
diversification. As of 31 December 2013, the Company managed to posted net profit
growth 109 percent or Rp2.7 trillion in 2013 from Rp1.28 trillion in 2011.
The Company’s purpose and objective is to engage in real estate development activities.
The Company has been developing a new city, which is a planned and integrated
residential area, with amenities/infrastructure, environmental facilities and parks, called
the BSD City.
As of June 30th, 2014, the Company had 2,269 employees.
August 2014
Disclaimer:

BSDE Bumi Serpong Damai Tbk. [S]
31 | 29.1T | 0.58% | 66.38%
39 | 6.15T | 0.73% | 71.54%

Established Date : 16-Jan-1984 1. PT Ekacentra Usahamaju 4,841,825,400 : 26.35%
Listing Date : 06-Jun-2008 2. PT Paraga Arta Mida 4,860,145,230 : 26.45%
PT CLSA Indonesia
PT Nusadana Capital Indonesia DIVIDEND ANNOUNCEMENT
PT Sinarmas Sekuritas Bonus Cash Recording Payment
F/I
PT Sinartama Gunita 2008 4.00 01-Jul-09 02-Jul-09 06-Jul-09 22-Jul-09 F
Sinar Mas Land Plaza Menara I 9th Fl. 2009 6.00 01-Jul-10 02-Jul-10 06-Jul-10 20-Jul-10 F
Jln. M.H. Thamrin No. 51 Jakarta 10350 2010 6.00 05-Jul-11 06-Jul-11 08-Jul-11 22-Jul-11 F
BOARD OF COMMISSIONERS ISSUED HISTORY

1. Muktar Widjaja Listing Trading
2. Benny Setiawan Santoso No. Type of Listing Shares Date Date
3. Edwin Hidayat Abdullah *) 1. First Issue 1,093,562,000 06-Jun-08 06-Jun-08
4. Franky Oesman Widjaja 2. Company Listing 9,842,060,870 06-Jun-08 01-Feb-09
5. Susiyati Bambang Hirawan *) 3. Right Issue I 6,561,373,722 21-Dec-10 21-Dec-10
6. Teddy Pawitra *) 4. Additional Listing without Right Issue 874,849,800 16-May-14 16-May-14
7. Teky Mailoa
8. Welly Setiawan Prawoko
BOARD OF DIRECTORS
1. Fransciscus Xaverius Ridwan Darmali
2. Hermawan Wijaya
3. Hongky Jeffry Nantung
4. Liauw Herry Hendarta
5. Lie Jani Harjanto
6. Michael Jackson Purwanto Widjaja
7. Monik William (Independent)
8. Petrus Kusuma
9. Syukur Lawigena
AUDIT COMMITTEE
1. Susiyati Bambang Hirawan
2. Edwin Hidayat Abdullah
3. Herawan Hadidjaja
CORPORATE SECRETARY
Hermawan Wijaya
HEAD OFFICE
Sinar Mas Land Plaza
Grand Boulevard, BSD Green Office Park
Tangerang - 15345
Phone : (021) 503-68368
Fax : (021) 537-3008
Homepage : www.bsdcity.com
Email : hermawan.wijaya@sinarmasland.com

TRADING ACTIVITIES
Bumi Serpong Damai Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,400 2,400 Jan-10 890 820 840 11,989 424,505 364,169 20
Feb-10 940 600 610 14,413 2,235,099 1,424,313 19
2,100 2,100 Mar-10 640 580 610 10,217 905,354 561,893 22
Apr-10 890 600 840 33,927 1,887,323 1,412,792 21
May-10 850 550 690 14,135 634,216 444,924 19
1,800 1,800
Jun-10 790 600 720 9,415 498,352 356,669 22
Jul-10 820 690 810 10,754 484,418 372,317 22
1,500 1,500
Aug-10 880 780 820 7,110 277,928 229,581 21
Sep-10 990 790 960 7,229 261,087 232,622 17
1,200 1,200
Oct-10 1,160 770 840 18,785 542,241 514,289 21
Nov-10 990 800 990 12,636 437,080 393,657 21
900 900 Dec-10 1,000 850 900 16,955 624,861 570,535 20
600 600 Jan-11 940 700 720 15,703 509,989 405,075 21

Feb-11 750 630 670 10,313 326,149 219,786 18
300 300 Mar-11 840 670 840 10,660 348,553 263,526 23
Apr-11 960 810 920 8,170 278,955 247,648 20
May-11 940 860 910 8,076 268,681 243,513 21
Jun-11 920 810 900 5,026 171,264 149,631 20
Jul-11 1,060 850 1,020 9,762 517,923 497,968 21
Aug-11 1,080 810 1,040 11,015 391,705 385,835 19
Sep-11 1,050 730 870 12,876 384,121 340,537 20
January 2010 - July 2014 Dec-11 1,010 840 980 9,577 449,764 424,577 21
315%
Jan-12 1,070 940 1,050 7,492 502,946 511,007 21
270% Feb-12 1,250 1,060 1,150 11,872 802,356 934,604 21
Mar-12 1,330 1,120 1,290 13,823 513,779 633,843 21
225% Apr-12 1,470 1,290 1,430 29,809 1,020,344 1,421,238 20
213.8% May-12 1,490 1,160 1,200 27,368 1,081,486 1,423,915 21
180% Jun-12 1,290 1,080 1,180 16,140 566,611 678,381 21
Jul-12 1,250 1,070 1,150 28,070 1,147,808 1,338,777 22
Aug-12 1,160 930 1,000 17,225 653,709 691,237 19
135%
Sep-12 1,130 930 1,130 21,262 699,555 727,882 20
97.6% Oct-12 1,310 1,020 1,240 25,587 1,192,184 1,397,115 22
90% 96.3%
Nov-12 1,290 1,180 1,210 11,502 584,368 723,218 20
Dec-12 1,270 1,080 1,110 12,996 528,628 627,165 18
45%
Jan-13 1,450 1,090 1,400 26,871 1,122,431 1,405,038 21

- Feb-13 1,600 1,320 1,600 18,943 766,112 1,103,713 20
Mar-13 1,790 1,530 1,750 23,894 948,716 1,580,124 19
-45% Apr-13 1,760 1,590 1,730 26,272 941,130 1,588,336 22
Jun-13 2,125 1,660 1,800 64,726 1,530,160 2,863,844 19
Jul-13 1,850 1,370 1,580 50,647 1,333,112 2,061,537 23
Days 245 247 246 244 137 Dec-13 1,480 1,220 1,290 19,589 325,381 444,297 19
Price (Rupiah) Jan-14 1,600 1,200 1,440 37,323 489,096 698,307 20

High 1,160 1,080 1,490 2,200 1,750 Feb-14 1,600 1,405 1,535 33,288 536,893 824,896 20
Low 550 630 930 1,090 1,200 Mar-14 1,750 1,490 1,635 49,830 1,086,155 1,786,918 20
Close 900 980 1,110 1,290 1,585 Apr-14 1,705 1,455 1,560 41,654 642,305 1,023,903 20
Close* 900 980 1,110 1,290 1,585 May-14 1,620 1,510 1,610 25,751 310,042 488,501 18
Jun-14 1,610 1,425 1,485 29,429 250,899 386,497 21
PER (X) 39.93 16.94 13.12 7.87 5.68 Jul-14 1,685 1,470 1,585 41,820 581,695 937,267 18
PER Industry (X) 9.97 11.09 17.34 17.79 19.77
PBV (X) 2.57 2.08 1.84 1.76 1.72

Public Accountant : Mulyamin Sensi Suryanto & Lianny (Member of Moore Stephens International Ltd.)
Receivables 102,632 86,978 83,188 110,327 205,319

2,883,392 3,012,273 3,374,802 3,796,776 4,416,227 22,000
Inventories
Investment 80,376 636,702 769,378 1,652,477 5,431,389
16,500
Fixed Assets 365,038 486,920 415,371 437,868 479,265
Other Assets 4,238 5,849 415 415 415
11,000
Total Assets 11,694,748 12,787,377 16,756,718 22,572,159 27,004,027
Growth (%) 9.34% 31.04% 34.71% 19.63% 5,500
Bank Payable - 97,000 91,000 1,362,669 1,556,692 -

Growth (%) 5.86% 37.41% 47.10% 10.31%
Paid up Capital 1,749,700 1,749,700 1,749,700 1,749,700 1,837,185 16,903

Par Value 100 100 100 100 100
13,455
10,532
8,257
10,007
Total Equity 6,132,282 8,257,225 10,531,704 13,415,298 16,903,296

34.65% 27.55% 27.38% 26.00% 6,132
Growth (%) 6,558
Total Revenues 2,477,203 2,806,339 3,727,812 5,741,264 2,423,680

Growth (%) 13.29% 32.84% 54.01%
-338
2010 2011 2012 2013 Jun-14
Cost of Revenues 940,509 1,021,278 1,346,826 1,575,447 631,512

Gross Profit 1,536,693 1,785,061 2,380,986 4,165,817 1,792,168
Operating Expenses 666,219 824,506 949,431 1,256,190 647,073
Operating Profit 870,475 960,555 1,431,555 2,909,627 1,145,094 5,741
5,741
Growth (%) 10.35% 49.03% 103.25%

4,570
Other Income (Expenses) -11,950 155,769 221,921 322,189 68,163 3,728
Income before Tax 662,111 1,170,231 1,696,564 3,278,954 2,795,137 3,399
2,806
2,477 2,424
Tax 142,407 158,197 217,705 373,306 141,353
Profit for the period 519,704 1,012,034 1,478,859 2,905,649 2,653,784
2,228
Growth (%) 94.73% 46.13% 96.48%

1,056
Period Attributable 394,403 840,780 1,286,047 2,691,396 2,564,669 -115
Comprehensive Income 519,810 1,012,301 1,480,581 2,909,347 2,651,893 2010 2011 2012 2013 Jun-14
Comprehensive Attributable 394,494 840,949 1,287,149 2,695,880 2,561,649
Dividend (Rp) 6.00 - 15.00 15.00 -
2,906
EPS (Rp) 22.54 48.05 73.50 153.82 139.60 2,906
2,654
BV (Rp) 350.48 471.92 601.91 766.72 920.07
DAR (X) 0.37 0.35 0.37 0.41 0.37 2,313
DER(X) 0.70 0.55 0.59 0.68 0.60

1,720
1,479
ROA (%) 4.44 7.91 8.83 12.87 9.83
ROE (%) 8.47 12.26 14.04 21.66 15.70 1,127
1,012
GPM (%) 62.03 63.61 63.87 72.56 73.94

520
OPM (%) 35.14 34.23 38.40 50.68 47.25 535
NPM (%) 20.98 36.06 39.67 50.61 109.49

Payout Ratio (%) 26.62 - 20.41 9.75 -
-58
2010 2011 2012 2013 Jun-14

Yield (%) 0.67 - 1.35 1.16 -

COMPANY REPORT
CPIN
CHAROEN POKPHAND INDONESIA TBK.
Company Profile
PT Charoen Pokphand Indonesia Tbk. was established dated January 7th, 1972. The
Company started its commercial operations in 1972.
The Company is engaged in poultry feed, breeding and cultivation of broiler together with
its processing, processed food, preservation of chicken and beef including cold storage
units, selling poultry feed, chicken and beef, materials from animal sources within the
territory of Republic of Indonesia.
The Company’s branches are located in Sidoardjo, Medan, Tangerang, Cirebon, Balaraja,
Serang, Lampung, Denpasar, Surabaya, Semarang, Makasar, and Salatiga.
The Company has direct and indirect ownership in subsidiaries:

PT Charoen Pokphand Jaya Farm,
PT Primafood International,
PT Vista Grain,
PT Poly Packaging Industry,
PT Feprotama Pertiwi,
PT Agrico International,
PT Sarana Proteindo Utama
PT Singa Mas International
PT Prima Ritel Indonesia
PT Prima Persada Propertindo.
The Company and Subsidiaries had 4,516 employees as of June 30th, 2014.
August 2014
Disclaimer:

CPIN Charoen Pokphand Indonesia Tbk. [S]
Industry Sector : Basic Industry And Chemicals (3) Listed Shares : 16,398,000,000
Industry Sub Sector : Animal Feed (36) Market Capitalization : 64,772,100,000,000
15 | 64.8T | 1.28% | 52.97%
35 | 7.05T | 0.83% | 68.43%

Established Date : 07-Jan-1972 1. PT Central Agromina 9,106,385,410 : 55.53%
Listing Date : 18-Mar-1991 2. Public (<5%) 7,291,614,590 : 44.47%
Under Writer IPO :
PT Danareksa DIVIDEND ANNOUNCEMENT
PT Makindo Bonus Cash Recording Payment
F/I
PT Asean Development Securities Year Shares Dividend Cum Date Ex Date Date Date
PT Surya Securities 1990 50.00 25-Jul-91 26-Jul-91 02-Aug-91 21-Aug-91 F
Securities Administration Bureau : 1991 175.00 03-Jun-92 04-Jun-92 15-Jun-92 22-Jun-92 F
PT Adimitra Transferindo 1992 200.00 30-Oct-92 02-Nov-92 09-Nov-92 17-Nov-92 I
Plaza Property 2nd Fl. Komp. Pertokoan Pulomas Blok VIII No. 1 1992 315.00 15-Jun-93 16-Jun-93 24-Jun-93 23-Jul-93 F
Jln. Perintis Kemerdekaan Jakarta 13210 1993 200.00 02-Dec-93 03-Dec-93 10-Dec-93 20-Dec-93 I
Phone : (021) 478-81515 (Hunting) 1993 73.00 22-Jul-94 25-Jul-94 01-Aug-94 01-Sep-94 I
Fax : (021) 470-9697 1993 73.00 22-Jul-94 25-Jul-94 01-Aug-94 01-Sep-94 F
1994 155.00 13-Jul-95 14-Jul-95 24-Jul-95 10-Aug-95 F
BOARD OF COMMISSIONERS 1995 230.00 21-Sep-95 22-Sep-95 02-Oct-95 09-Oct-95 I
1. Hadi Gunawan Tjoe Fm 4:1 06-Jun-97 09-Jun-97 17-Jun-97 01-Jul-97 B
2. Herman Sugianto *) 1996 20.00 27-Aug-97 28-Aug-97 05-Sep-97 01-Oct-97 F
3. Jiacipto Jiaravanon 1999 50.00 11-Sep-00 12-Sep-00 19-Sep-00 05-Oct-00 F
4. Jialipto Jiaravanon 2001 10.00 02-Aug-02 05-Aug-02 08-Aug-02 15-Aug-02 F
5. Suparman Satrodimedjo *) 2002 15.00 23-Sep-03 24-Sep-03 26-Sep-03 10-Oct-03 F
6. Tjiu Thomas Effendy 2006 38.00 30-Jul-07 31-Jul-07 02-Aug-07 16-Aug-07 F
*) Independent Commissioners 2009 196.00 22-Jun-10 23-Jun-10 25-Jun-10 09-Jun-10 F
2010 39.80 16-Jun-11 17-Jun-11 21-Jun-11 05-Jul-11 F
BOARD OF DIRECTORS 2011 42.00 07-Jun-12 08-Jun-12 12-Jun-12 26-Jun-12 F
1. Rusmin Ryadi 2012 46.00 28-Jun-13 01-Jul-13 03-Jul-13 17-Jul-13 F
2. Eddy Dharmawan Mansjoer 2013 46.00 30-Jun-14 01-Jul-14 03-Jul-14 18-Jul-14 F
3. Ferdiansyah Gunawan Tjoe
4. Jemmy ISSUED HISTORY
5. Ong Mei Sian Listing Trading
6. Peraphon Prayooravong No. Type of Listing Shares Date Date
7. Vinai Rakphongphairoj 1. First Issue 2,500,000 18-Mar-91 18-Mar-91
2. Partial Listing 5,000,000 18-Mar-91 18-Jun-91
AUDIT COMMITTEE 3. Company Listing 45,000,000 11-Nov-91 18-Nov-91
1. Herman Sugianto 4. Convertible Bonds 839,738 20-Oct-94 20-Oct-94
2. Petrus Julius 5. Convertible Bonds 2,967,029 01-Dec-94 01-Dec-94
3. Rudy Dharma Kusuma 6. Right Issue 56,306,767 07-Feb-95 07-Feb-95
4. Suparman Satrodimedjo 7. Stock Split 112,613,534 26-May-97 26-May-97
5. Yustinus Eddy Tiono 8. Bonus Shares 56,306,767 02-Jul-97 02-Jul-97
9. Stock Split 1,126,135,340 15-Jan-01 15-Jan-01
CORPORATE SECRETARY 10. Right Issue 234,611,529 01-Aug-07 01-Aug-07
Hadijanto Kartika 11. Stock Split 1,642,280,704 01-Nov-07 01-Nov-07
12. Stock Split 13,138,245,632 08-Dec-10 08-Dec-10
HEAD OFFICE 13. Buy back -24,807,040 03-Jan-12 03-Jan-12
Jln. Ancol VIII/1
Jakarta 14430
.
Phone : (021) 691-9999
Fax : (62-021) 690-7324
Homepage : www.cp.co.id
Email : hadijanto@cp.co.id

TRADING ACTIVITIES
Charoen Pokphand Indonesia Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
5,600 640 Jan-10 2,400 2,100 2,200 5,927 63,527 143,594 20
Feb-10 2,250 1,990 2,000 2,420 20,586 42,834 19
4,900 560 Mar-10 2,925 1,990 2,800 7,269 93,556 229,251 22
Apr-10 3,025 2,625 3,000 4,630 353,273 608,764 21
May-10 3,050 2,325 2,750 7,446 86,841 234,992 19
4,200 480
Jun-10 3,850 2,600 3,550 13,676 138,881 461,581 22
Jul-10 5,350 3,300 5,200 15,643 140,470 599,314 22
3,500 400
Aug-10 6,550 4,550 6,450 12,224 82,784 443,285 21
Sep-10 8,750 6,000 8,700 14,543 83,028 649,717 17
2,800 320
Oct-10 8,800 7,100 8,550 19,425 132,011 1,069,620 21
Nov-10 9,800 8,450 9,600 16,912 215,029 1,977,728 21
2,100 240 Dec-10 9,600 1,650 1,840 33,787 460,274 1,101,932 20
1,400 160 Jan-11 1,900 1,380 1,490 38,004 518,564 857,993 21

Feb-11 1,730 1,460 1,520 28,352 388,787 613,020 18
700 80 Mar-11 2,025 1,480 2,025 47,145 820,665 1,411,264 23
Apr-11 2,050 1,910 1,930 24,105 298,075 583,449 20
May-11 1,960 1,830 1,930 26,170 306,123 580,528 21
Jun-11 2,025 1,830 1,990 19,160 341,579 660,625 20
Jul-11 2,875 1,990 2,725 27,950 434,797 1,026,968 21
Aug-11 2,925 2,225 2,750 56,102 751,536 1,976,446 19
Sep-11 2,975 1,910 2,400 50,440 668,175 1,670,181 20
Basic Industry and Chemicals Index Nov-11 2,725 2,175 2,300 27,967 284,756 706,453 22
January 2010 - July 2014 Dec-11 2,450 2,050 2,150 28,085 304,442 689,839 21
1,190%
Jan-12 2,550 2,100 2,500 28,901 362,122 843,531 21
1,020% Feb-12 2,875 2,425 2,675 22,290 354,584 947,040 21
Mar-12 2,775 2,525 2,750 16,781 233,594 623,275 21
850% Apr-12 2,825 2,625 2,750 14,447 163,751 443,008 20
797.7% May-12 2,800 2,550 2,625 16,503 200,774 536,404 21
680% Jun-12 3,425 2,325 3,425 21,919 274,107 792,772 21
Jul-12 3,425 2,925 3,200 23,542 261,769 823,958 22
Aug-12 3,200 2,600 2,700 23,263 254,560 729,813 19
510%
Sep-12 3,025 2,650 3,025 19,062 243,921 697,362 20
Oct-12 3,200 2,925 3,125 15,684 168,547 516,572 22
340%
Nov-12 3,475 3,000 3,425 17,577 190,871 612,019 20
Dec-12 3,650 3,125 3,650 17,348 464,529 1,521,474 18
170%
100.5%
97.6% Jan-13 4,025 3,400 3,875 22,837 172,807 627,478 21
- Feb-13 4,675 3,750 4,400 25,887 190,399 791,775 20
Mar-13 5,250 4,325 5,050 34,984 357,500 1,704,379 19
-170% Apr-13 5,100 4,600 5,050 26,573 221,332 1,063,057 22
Jun-13 5,150 4,275 5,150 45,241 269,464 1,289,057 19
Jul-13 5,150 4,125 4,300 44,340 242,064 1,093,933 23
Days 245 247 246 244 137 Dec-13 3,575 3,100 3,375 22,346 140,288 469,316 19
Price (Rupiah) Jan-14 4,225 3,260 4,135 52,996 197,493 749,683 20

High 9,800 2,975 3,650 5,550 4,500 Feb-14 4,245 3,840 4,235 39,926 164,966 664,928 20
Low 1,650 1,380 2,100 2,550 3,260 Mar-14 4,500 3,950 3,995 52,039 218,463 911,471 20
Close 1,840 2,150 3,650 3,375 3,950 Apr-14 4,280 3,770 3,770 55,123 207,713 833,655 20
Close* 1,840 2,150 3,650 3,375 3,950 May-14 4,025 3,690 3,775 36,562 202,005 788,856 18
Jun-14 3,940 3,700 3,770 37,159 94,959 363,997 21
PER (X) 13.67 14.95 22.33 18.79 25.88 Jul-14 4,070 3,750 3,950 38,918 702,054 2,740,259 18
PER Industry (X) 12.86 10.41 9.79 17.44 11.72
PBV (X) 6.78 5.70 7.32 5.75 6.20

Cash & Cash Equivalents 1,317 876,198 954,694 1,146,852 827,545 18,750
Receivables 946,603 1,381,707 1,846,576 2,531,089 3,221,211

1,554,780 2,339,543 3,366,317 4,044,737 4,232,256 15,000
Inventories
Current Assets 4,274,636 5,250,245 7,180,890 8,824,900 9,676,913
11,250
Fixed Assets 1,931,069 3,198,604 4,593,000 6,389,545 7,845,107
Other Assets 46,685 51,645 46,105 49,920 61,570
7,500
Total Assets 6,518,276 8,848,204 12,348,627 15,722,197 18,248,101
Growth (%) 35.74% 39.56% 27.32% 16.07% 3,750

Long Term Liabilities 574,899 1,083,182 2,004,511 3,444,249 4,101,985 2010 2011 2012 2013 Jun-14
Growth (%) 30.57% 56.92% 38.33% 35.16%
9,951
Paid up Capital 16,398 163,980 163,980 163,980 163,980 10,447

Par Value 10 10 10 10 10
8,316

6,185
Total Equity 4,458,432 6,189,470 8,176,464 9,950,900 10,447,347 4,458

Growth (%) 38.83% 32.10% 21.70% 4.99% 4,054
Total Revenues 15,077,822 17,957,972 21,310,925 25,662,992 14,425,049

Growth (%) 19.10% 18.67% 20.42%
-209
2010 2011 2012 2013 Jun-14
Cost of Revenues 11,323,708 14,033,726 16,819,413 20,513,184 11,987,765

Gross Profit 3,754,114 3,924,246 4,491,512 5,149,808 2,437,284
Expenses (Income) 993,116 915,033 1,032,832 1,571,511 674,305
Growth (%) 8.99% 14.94% 8.66%

25,663
21,311
20,428
17,958
Other Income (Expenses) 57,229 -34,633 -82,181 -126,964 -122,123
15,078 14,425
Tax 598,366 612,083 695,627 922,643 390,047

Profit for the period 2,219,861 2,362,497 2,680,872 2,528,690 1,250,809 9,957
Growth (%) 6.43% 13.48% -5.68%

4,722
Period Attributable 2,210,266 2,355,475 2,684,064 2,530,909 125,136 -513
Comprehensive Attributable 2,210,266 2,355,475 2,684,064 2,530,909 125,136
Current Ratio (%) 292.51 333.23 331.28 379.23 261.63
2,681
Dividend (Rp) 39.80 42.00 46.00 46.00 - 2,529
2,362
2,681
EPS (Rp) 1,347.89 143.64 163.68 154.34 7.63 2,220
BV (Rp) 2,718.89 377.45 498.63 606.84 637.11 2,134
DAR (X) 0.31 0.30 0.34 0.37 0.43

0.46 0.43 0.51 0.58 0.75 1,251
1,587
DER(X)
ROA (%) 34.06 26.70 21.71 16.08 6.85 1,040
ROE (%) 49.79 38.17 32.79 25.41 11.97

GPM (%) 24.90 21.85 21.08 20.07 16.90 493
OPM (%) 18.31 16.76 16.23 14.64 12.22

NPM (%) 14.72 13.16 12.58 9.85 8.67
-54
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 2.95 29.24 28.10 29.80 -
Yield (%) 2.16 1.95 1.26 1.36 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
CTRA
CIPUTRA DEVELOPMENT TBK.
Company Profile
PT Ciputra Development Tbk. is one of Indonesia leading property companies. Established in

1981, the development of large scale residential and commercial properties is the expertise
and core business of Ciputra Development.
PT Ciputra Development Tbk. was established on October 22nd, 1981 The Company’s head
office is located at Jln. Prof. DR. Satrio Kav. 6, South Jakarta. The Company started
commercial operations in 1984. PT Sang Pelopor is the ultimate parent company of the
Company and Subsidiaries.
The Company’s business scope consists of the development and sale of real estate,
apartments, office spaces, shopping centers, recreational places and their facilities and
provision of services related to the design, development and maintenance of housing
facilities, including but not limited to golf courses, family clubs, restaurants and other
recreation centers and their facilities.
The Company has direct and indirect subsidiaries:

• PT Ciputra Property Tbk.,
• PT Ciputra Surya Tbk.,
• PT Ciputra Residence,
• PT Ciputra Graha Mitra,
• PT Ciputra Indah,
• PT Ciputra Raya Sejahtera,
• PT Citra Tumbuh Bahagia,
• PT Penta Oktoeneatama,
• PT Citraland Graha Realty, and
• Long Field Enterprises Limited.
As of June 30th, 2014, the Company and subsidiaries had 2,574 employees.
August 2014
Disclaimer:

CTRA Ciputra Development Tbk. [S]
52 | 17.5T | 0.35% | 75.39%
50 | 4.50T | 0.53% | 78.58%

Established Date : 22-Oct-1981 1. Credit Suisse AG Singapore Trust A/C Clients - 2023 1,169,734,876 : 7.71%
Listing Date : 28-Mar-1994 2. PT Sang Pelopor 4,644,750,000 : 30.63%
PT Bapindo Bumi Securities
PT Baring Securities DIVIDEND ANNOUNCEMENT
PT Danareksa Sekuritas Bonus Cash Recording Payment
F/I
PT Indovest Securities Year Shares Dividend Cum Date Ex Date Date Date
PT Inter-Pacific Securities 1994 89.00 19-Jul-95 20-Jul-95 28-Jul-95 25-Aug-95 F
Securities Administration Bureau : 1995 80.00 17-Jul-96 18-Jul-96 26-Jul-96 23-Aug-96 F
PT EDI Indonesia 1996 41.00 07-Jul-97 08-Jul-97 16-Jul-97 14-Aug-97 F
Wisma SMR 10th Fl. 2000 20 : 23 14-Nov-00 15-Nov-00 20-Nov-00 04-Dec-00 B
Jln. Yos Sudarso Kav. 89 Jakarta 14350 2010 6.00 25-Jul-11 26-Jul-11 28-Jul-11 11-Aug-11 F
Phone : (021) 650-5829, 652-1010 2011 7.00 24-Jul-12 25-Jul-12 27-Jul-12 10-Aug-12 F
Fax : (021) 650-5987 2012 12.00 05-Jul-13 08-Jul-13 10-Jul-13 24-Jul-13 F
2013 19.00 03-Jul-14 04-Jul-14 08-Jul-14 22-Jul-14 F
BOARD OF COMMISSIONERS
1. Ciputra ISSUED HISTORY
2. Cosmas Batubara *) Listing Trading
3. Dian Sumeler No. Type of Listing Shares Date Date
4. Widigdo Sukarman *) 1. First Issue 50,000,000 28-Mar-94 28-Mar-94
*) Independent Commissioners 2. Company Listing 200,000,000 T: 28-Mar-94 : 18-Oct-94
3. Stock Split 250,000,000 05-Aug-96 05-Aug-96
BOARD OF DIRECTORS 4. Right Issue 2,699,860,570 T: 08-Oct-96 : 27-Dec-06
1. Candra Ciputra 5. Bonus Shares 862,500,000 04-Dec-00 04-Dec-00
2. Budiarsa Sastrawinata 6. Additional Listing without RI 2,307,276,912 03-Apr-06 03-Apr-06
3. Cakra Ciputra 7. Warrant I 1,213,270,515 T: 06-Jun-07 : 03-Dec-09
4. Harun Hajadi 8. Stock Splits 7,582,907,997 15-Jun-10 15-Jun-10
5. Junita Ciputra
6. Rina Ciputra Sastrawinata
7. Santoso (Independent)
8. Tanan Herwandi Antonius
9. Tulus Santoso Brotosiswojo
AUDIT COMMITTEE
1. Widigdo Sukarman
2. Henk Wangitan
3. Melina Indrawati Sutandi
CORPORATE SECRETARY
Tulus Santoso
HEAD OFFICE
Jln. Prof. DR. Satrio Kav. 6
Jakarta - 12940
Phone : (021) 522-6868, 522-5858, 520-7333
Fax : (021) 520-5262
Homepage : www.ciputradevelopment.com
Email : investor@ciputra.com; tulus@ciputra.com
tulus@ciputra.com
lina@ciputra.com

TRADING ACTIVITIES
Ciputra Development Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
1,600 800 Jan-10 710 480 680 11,430 454,239 281,358 20
Feb-10 740 650 690 4,995 174,703 120,957 19
1,400 700 Mar-10 870 680 860 5,558 302,136 228,126 22
Apr-10 950 840 890 4,903 226,058 202,278 21
May-10 890 630 740 5,639 208,380 156,903 19
1,200 600
Jun-10 830 320 335 7,848 379,392 166,627 22
Jul-10 385 320 380 7,602 409,577 148,175 22
1,000 500
Aug-10 385 325 335 4,647 223,285 78,959 21
Sep-10 400 325 380 11,558 497,905 185,402 17
800 400
Oct-10 510 370 420 11,350 730,537 311,640 21
Nov-10 425 355 365 8,258 506,498 194,248 21
600 300 Dec-10 380 330 350 5,990 342,481 122,920 20
400 200 Jan-11 365 300 305 6,463 303,391 100,459 21

Feb-11 320 290 310 3,720 166,002 50,088 18
200 100 Mar-11 380 300 370 6,633 310,564 105,731 23
Apr-11 400 360 390 4,834 218,733 83,783 20
May-11 435 365 415 6,726 305,850 125,770 21
Jun-11 460 410 430 5,450 231,730 99,127 20
Jul-11 550 425 550 6,398 513,521 249,550 21
Aug-11 600 480 500 6,649 351,157 188,620 19
Sep-11 580 400 510 7,958 236,714 120,070 20
January 2010 - July 2014 Dec-11 640 500 540 5,428 238,772 132,399 21
560%
Jan-12 600 530 570 5,925 264,125 150,837 21
480% Feb-12 700 570 640 7,287 474,041 296,748 21
Mar-12 770 640 720 8,899 382,839 273,310 21
400% Apr-12 850 710 760 10,499 440,573 336,521 20
371.4% May-12 810 630 700 14,935 1,400,750 1,027,293 21
320% Jun-12 740 610 650 7,156 391,259 264,438 21
Jul-12 720 640 650 6,071 256,710 173,555 22
Aug-12 650 600 620 6,246 381,264 236,340 19
240%
213.8% Sep-12 720 620 710 7,414 267,635 180,482 20
Oct-12 730 660 680 8,059 435,341 303,526 22
160%
Nov-12 790 660 780 5,701 297,135 217,910 20
97.6%
Dec-12 850 740 800 7,681 352,705 281,639 18
80%
Jan-13 950 780 920 12,617 492,647 412,442 21

- Feb-13 1,140 860 1,110 13,284 441,451 428,604 20
Mar-13 1,160 1,020 1,080 14,637 631,303 690,134 19
-80% Apr-13 1,410 1,040 1,380 15,774 668,842 764,483 22
Jun-13 1,550 1,050 1,350 31,006 761,959 999,370 19
Jul-13 1,360 960 1,150 27,780 721,829 829,980 23
Volume (Million Sh.) 4,455 3,233 5,344 7,702 4,373 Sep-13 1,140 780 980 22,998 601,732 589,377 21
Value (Billion Rp) 2,198 1,435 3,743 7,932 4,498 Oct-13 1,110 840 1,030 28,391 744,894 709,533 21
Days 245 247 246 244 137 Dec-13 840 700 750 18,761 622,891 467,990 19
Price (Rupiah) Jan-14 890 750 855 26,138 668,360 553,096 20

High 950 640 850 1,660 1,285 Feb-14 1,075 825 975 32,859 757,992 725,870 20
Low 320 290 530 690 750 Mar-14 1,215 950 1,160 31,909 677,349 741,908 20
Close 350 540 800 750 1,155 Apr-14 1,245 975 1,015 35,036 643,602 693,465 20
Close* 350 540 800 750 1,155 May-14 1,165 975 1,055 25,946 539,769 582,155 18
Jun-14 1,115 915 925 20,398 361,390 369,902 21
PER (X) 20.58 16.58 14.28 12.14 14.58 Jul-14 1,285 925 1,155 31,650 724,249 831,982 18
PER Industry (X) 9.97 11.09 17.34 17.79 19.77
PBV (X) 1.08 1.07 1.43 1.21 1.71

Receivables 198,953 324,816 580,855 779,270 762,390

2,154,509 2,675,218 3,310,134 4,891,787 5,579,766 18,000
Inventories
Investment 535,290 1,233,460 360,672 255,963 273,285
13,500
Fixed Assets 2,012,890 2,383,992 1,240,096 1,779,149 1,797,720
Other Assets 276,140 442,465 - 894,675 714,442
9,000
Total Assets 9,378,342 11,524,867 15,023,392 20,114,871 21,518,457
Growth (%) 22.89% 30.36% 33.89% 6.98% 4,500
Bank Payable - 801,939 1,470,810 2,728,066 2,920,249 -

Growth (%) 82.36% 68.74% 58.18% 8.96%
9,766
Paid up Capital 3,791,454 3,791,454 3,791,454 3,791,454 3,791,454
15,166 15,166 15,166 15,166 15,166 8,481
Paid up Capital (Shares)
7,647
Par Value 250 250 250 250 250
8,152
Retained Earnings 207,726 441,555 924,494 1,714,219 2,026,636

6,063
4,905,036 7,647,434 8,480,745 9,765,513 10,241,817 4,905

Total Equity
Growth (%) 55.91% 10.90% 15.15% 4.88% 3,974
Total Revenues 1,692,687 2,178,331 3,322,669 5,077,062 2,807,854

Growth (%) 28.69% 52.53% 52.80%
-205
2010 2011 2012 2013 Jun-14
Cost of Revenues 957,985 1,135,339 1,656,106 2,530,589 1,343,827

Gross Profit 734,702 1,042,992 1,666,563 2,546,473 1,464,027
Operating Profit 341,819 539,459 980,373 1,651,527 965,232 5,077
5,077
Growth (%) 57.82% 81.73% 68.46%

4,041
Other Income (Expenses) 137,638 79,319 49,038 57,964 -20,700 3,323

2,808
Income before Tax 482,273 618,778 1,029,411 1,709,492 944,533 3,006
93,022 124,766 180,028 296,103 147,043 2,178

Tax
1,693
Profit for the period 389,251 494,011 849,383 1,413,388 797,489
1,970
Growth (%) 26.91% 71.94% 66.40%

934
Comprehensive Income 389,252 494,011 849,383 1,413,388 797,489 2010 2011 2012 2013 Jun-14
Dividend (Rp) 6.00 7.00 12.00 38.00 -
1,413
EPS (Rp) 17.01 21.42 38.84 64.40 39.60 1,413
BV (Rp) 323.43 504.25 559.20 643.92 675.32

DAR (X) 0.23 0.34 0.44 0.51 0.52 1,125
0.43 0.51 0.77 1.06 1.10 849

DER(X) 797
837
ROA (%) 4.15 4.29 5.65 7.03 3.71

ROE (%) 7.94 6.46 10.02 14.47 7.79 548
494
389
GPM (%) 43.40 47.88 50.16 50.16 52.14
OPM (%) 20.19 24.76 29.51 32.53 34.38 260
NPM (%) 23.00 22.68 25.56 27.84 28.40

Payout Ratio (%) 35.27 32.68 30.89 59.00 -
-28
2010 2011 2012 2013 Jun-14

Yield (%) 1.71 1.30 1.50 5.07 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
EXCL
XL AXIATA TBK.
Company Profile
PT XL Axiata Tbk. which previously known as PT Excelcomindo Pratama Tbk., was initially
established under the name PT Grahametropolitan Lestari, was established on October 6th,
1989.
The Company’s majority shareholder, Axiata Investments (Indonesia) Sdn. Bhd. is a wholly
owned subsidiary of Axiata Investments (Labuan) Limited. Axiata Investments (Labuan)
Limited is a subsidiary of Axiata Group Berhad.
The Company’s purpose is to provide telecommunications services and/or

telecommunications networks and/or multimedia services. The Company commenced its
commercial operations in 1996.
The Company has the subsidiaries which were established for issuance of bonds and loans:
• GSM One (L) Ltd. Malaysia,
• GSM Two (L) Ltd. Malaysia, and
On 26 September 2013, the Company signed a Conditional Sale Purchase Agreement of PT

AXIS Telekom Indonesia (AXIS) with Saudi Telecom Company (STC) and Teleglobal
Investment B.V. (Teleglobal). Under the agreement, Teleglobal shall sell and the Company
shall purchase Teleglobal’s share ownership in AXIS under certain conditions.
Extraordinary General Meeting of Shareholders of the Company on 5 February 2014

approved the acquisition and merger plan of the Company and AXIS. On 19 March 2014 the
sale and purchase transaction has become effective. The Company accounts for the
acquisition of AXIS by applying the acquisition method (see Note 3c and 37). Subsequently,
the Company and AXIS merged effective as at 8 April 2014. At the effective date of merger,
all asset and liabilities of AXIS were transferred to the Company and according to law, the
legal entity of AXIS was dissolved.
August 2014
Disclaimer:

EXCL XL Axiata Tbk. [S]
Industry Sector : Infrastructure, Utilities And Transportation (7) Listed Shares : 8,534,490,667
Industry Sub Sector : Telecommunication (73) Market Capitalization : 46,086,249,601,800
19 | 46.1T | 0.91% | 57.42%
51 | 4.18T | 0.49% | 79.07%

Established Date : 06-Oct-1989 1. Axiata Investments (Indonesia) Sdn. Bhd. 5,674,125,290 : 66.49%
Listing Date : 29-Sep-2005 2. Public (<5%) 2,860,365,377 : 33.51%
Under Writer IPO :
PT CIMB Niaga Securities DIVIDEND ANNOUNCEMENT
PT GK Goh Indonesia Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2006 7.00 22-May-07 23-May-07 25-May-07 11-Jun-07 I
Puri Datindo - Wisma Sudirman 2007 20.00 28-Apr-08 29-Apr-08 02-May-08 16-May-08 F
Phone : (021) 570-9009 2011 129.88 20-Apr-12 23-Apr-12 25-Apr-12 09-May-12 F
Fax : (021) 570-9026 2012 135.00 02-May-13 03-May-13 07-May-13 22-May-13 F
2013 64.00 13-May-14 14-May-14 19-May-14 04-Jun-14 F
1. YBhg Tan Sri Dato' Muhammad Radzi bin H. Mansor ISSUED HISTORY
2. Azran Osman Rani Listing Trading
3. Chari TVT No. Type of Listing Shares Date Date
4. Peter J. Chambers *) 1. First Issue 1,427,500,000 29-Sep-05 29-Sep-05
5. Wirjawan *) 2. Company Listing 5,662,500,000 29-Sep-05 29-Sep-05
6. Yasmin Stamboel Wirjawan *) 3. Right Issue 1,418,000,000 16-Dec-09 16-Dec-09
7. YBhg Dato' Sri Jamaludin bin Ibrahim 4. Additional Listing without RI 10,566,332 26-Apr-11 26-Apr-11
*) Independent Commissioners 5. Long Term Incentive Program 7,710,279 16-Apr-12 16-Apr-12
6. Long Term Incentive Program 8,214,056 12-Apr-13 12-Apr-13
BOARD OF DIRECTORS
1. Hasnul Suhaimi
2. Dian Siswarini
3. Mohamed Adlan bin Ahmad Tajudin
4. Pradeep Shrivastava
5. Williem Lucas Timmermans
AUDIT COMMITTEE
1. Peter J. Chambers
2. Haryanto Thamrin
3. Paul Capelle
4. Yasmin Stamboel Wirjawan
CORPORATE SECRETARY
Murni Nurdini
HEAD OFFICE
Grha XL
Jln. DR. Ide Anak Agung Gde Agung Lot. E4 - 7 No. 1,
Kawasan Mega Kuningan, Jakarta Selatan - 12950
Phone : (021) 576-1881
Fax : (021) 576-1880
Homepage : www.xl.co.id
Email : murni@xl.co.id

TRADING ACTIVITIES
XL Axiata Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
7,400 2,400 Jan-10 2,725 1,850 2,675 444 1,325 3,107 18
Feb-10 3,050 2,200 3,050 281 1,231 3,420 19
6,475 2,100 Mar-10 3,650 3,050 3,500 995 1,848,719 6,141,116 22
Apr-10 3,800 3,375 3,725 2,210 195,543 694,034 21
May-10 3,825 3,325 3,475 2,266 161,146 573,841 19
5,550 1,800
Jun-10 4,200 3,475 4,075 1,563 68,246 261,846 22
Jul-10 5,000 3,800 4,750 1,989 41,735 179,079 22
4,625 1,500
Aug-10 5,250 4,500 5,000 3,330 73,835 357,446 21
Sep-10 5,950 4,950 5,400 3,940 91,575 496,215 17
3,700 1,200
Oct-10 5,850 5,100 5,750 4,612 77,869 430,339 21
Nov-10 6,250 5,250 5,600 4,398 87,384 506,603 21
2,775 900 Dec-10 5,950 5,200 5,300 3,716 106,650 585,229 20
1,850 600 Jan-11 5,950 4,975 5,250 4,925 56,510 311,674 21

Feb-11 5,800 4,975 5,700 4,978 130,463 685,980 18
925 300 Mar-11 5,900 5,250 5,450 4,143 116,397 655,579 23
Apr-11 7,100 5,500 6,800 8,002 82,986 505,343 20
May-11 7,000 6,050 6,150 17,490 292,579 1,875,647 21
Jun-11 6,300 5,700 6,150 14,706 180,249 1,088,323 20
Jul-11 6,350 5,700 5,750 10,177 108,508 657,815 21
Aug-11 5,800 4,600 5,050 16,016 97,839 512,779 19
Sep-11 5,650 3,675 4,975 14,667 87,788 444,954 20
Infrastructure, Utilities and Transportation Index Nov-11 5,550 4,500 4,650 10,207 83,184 405,435 22
January 2010 - July 2014 Dec-11 4,750 4,150 4,525 11,596 150,947 669,847 21
315%
Jan-12 5,250 4,450 4,475 10,324 149,594 718,423 21
270% Feb-12 4,950 4,475 4,725 10,385 145,053 683,660 21
Mar-12 5,200 4,400 5,050 14,166 92,236 430,517 21
225% Apr-12 5,650 4,850 5,400 8,260 96,402 501,677 20
May-12 6,500 5,300 5,900 9,258 71,181 408,503 21
180% 184.2% Jun-12 6,350 5,300 6,150 9,071 105,200 621,259 21
Jul-12 6,450 5,850 6,150 8,712 90,851 557,811 22
Aug-12 7,200 6,150 7,200 8,436 109,861 709,880 19
135%
Sep-12 7,200 6,350 6,650 12,289 938,720 5,970,400 20
97.6% Oct-12 7,400 6,600 6,850 12,368 170,346 1,184,562 22
90%
Nov-12 6,800 5,000 5,150 20,756 232,169 1,437,261 20
54.9%
Dec-12 6,100 5,400 5,700 10,391 162,549 925,074 18
45%
Jan-13 5,900 4,975 5,000 12,646 136,402 745,434 21

- Feb-13 6,000 4,975 5,450 20,158 170,736 921,705 20
Mar-13 5,450 5,150 5,250 12,633 159,235 841,208 19
-45% Apr-13 6,050 5,000 5,100 20,992 382,743 2,040,764 22
Jun-13 4,950 4,200 4,825 16,274 170,260 780,647 19
Jul-13 4,850 4,225 4,500 12,273 119,887 548,178 23
Volume (Million Sh.) 2,755 1,467 2,364 2,047 837 Sep-13 4,925 3,975 4,250 24,599 183,487 809,028 21
Days 243 247 246 244 137 Dec-13 5,250 4,725 5,200 12,087 73,628 366,722 19
Price (Rupiah) Jan-14 5,300 4,850 4,850 22,225 99,350 503,950 20

High 6,250 7,100 7,400 6,050 5,575 Feb-14 5,000 4,300 4,650 32,727 103,733 480,312 20
Low 1,850 3,675 4,400 3,750 3,990 Mar-14 4,550 3,990 4,400 33,592 97,339 421,072 20
Close 5,300 4,525 5,700 5,200 5,400 Apr-14 5,175 4,365 5,175 28,635 305,643 1,568,654 20
Close* 5,300 4,525 5,700 5,200 5,400 May-14 5,575 4,860 5,475 26,302 109,043 573,104 18
Jun-14 5,450 4,900 5,100 28,657 67,767 345,596 21
PER (X) 15.60 13.62 17.71 36.30 -47.76 Jul-14 5,525 5,000 5,400 20,387 53,902 286,216 18
PER Industry (X) 14.36 11.09 17.53 18.40 13.96
PBV (X) 3.85 2.82 3.16 2.92 3.53

Cash & Cash Equivalents 366,161 998,113 791,805 1,317,996 2,490,222 62,500
Receivables 558,601 669,978 597,077 1,332,444 1,715,382

61,044 66,595 49,807 49,218 65,776 50,000
Inventories
Current Assets 2,228,017 3,387,237 3,658,985 5,844,114 8,824,772
37,500
Fixed Assets 23,197,199 25,614,830 29,643,274 30,928,452 34,681,808
Other Assets 1,793,181 2,050,802 431,359 468,199 368,311
25,000
Total Assets 27,251,281 31,170,654 35,455,705 40,277,626 58,422,189
Growth (%) 14.38% 13.75% 13.60% 45.05% 12,500

Growth (%) 12.50% 14.92% 24.35% 81.64%
Paid up Capital 850,800 851,857 852,628 853,449 853,449 15,370
13,693
13,053
Par Value 100 100 100 100 100
12,235

9,099
Total Equity 11,715,074 13,692,512 15,370,036 15,300,147 13,052,991

Growth (%) 16.88% 12.25% -0.45% -14.69% 5,964
Total Revenues 17,458,639 18,712,778 20,969,806 21,265,060 11,546,958

Growth (%) 7.18% 12.06% 1.41%
-307
2010 2011 2012 2013 Jun-14
Cost of Revenues 12,674,828 14,210,511 16,617,343 19,606,772 11,130,195

Gross Profit 4,783,811 4,502,267 4,352,463 1,658,288 416,763
Expenses (Income) - - - - -
Operating Profit - - 4,352,463 1,658,288 416,763 20,970 21,265
Growth (%) -61.90% 18,713

21,265
17,459
16,927

3,867,981 3,864,643 3,751,421 1,389,667 -495,014 11,547
Income before Tax 12,589
Tax 976,720 1,034,542 -986,774 356,850 -12,490

Profit for the period 2,891,261 2,830,101 2,764,647 1,032,817 -482,524 8,251
Growth (%) -2.12% -2.31% -62.64%

3,913
Period Attributable 2,891,261 2,830,101 2,764,647 1,032,817 -482,524 -425
Comprehensive Income 2,891,261 2,830,101 2,743,915 1,055,965 -502,265 2010 2011 2012 2013 Jun-14
Comprehensive Attributable 2,891,261 2,830,101 2,743,915 1,055,965 -502,265
Current Ratio (%) 48.83 38.81 41.86 73.69 55.23
2,891 2,830 2,765
Dividend (Rp) 107.00 129.88 135.00 64.00 - 2,891
EPS (Rp) 339.83 332.23 324.25 121.02 -56.54

BV (Rp) 1,376.95 1,607.37 1,802.67 1,792.74 1,529.44 2,217
DAR (X) 0.57 0.56 0.57 0.62 0.78

1.33 1.28 1.31 1.63 3.48
1,542
DER(X) 1,033
ROA (%) 10.61 9.08 7.80 2.56 -0.83 867
ROE (%) 24.68 20.67 17.99 6.75 -3.70

GPM (%) 27.40 24.06 20.76 7.80 3.61 192
Jun-14
OPM (%) - - 20.76 7.80 3.61

2010 2011 2012 2013
NPM (%) 16.56 15.12 13.18 4.86 -4.18
-483
-483
Payout Ratio (%) 31.49 39.09 41.63 52.89 -
Yield (%) 2.02 2.87 2.37 1.23 -

COMPANY REPORT
GGRM
GUDANG GARAM TBK.
Company Profile
PT Gudang Garam Tbk. previously named as PT Perusahaan Rokok Tjap “Gudang Garam”
Kediri (PT Gudang Garam), was established on June 30th, 1971. The Company is a
continuation of a Proprietorship which was established in 1958. In 1969, the Company
changed its legal status to a Partnership and in 1971 it was further changed its existing
legal entity as a Limited Liability Company. Commercial operation was commenced in 1958.
The Company is engaged in cigarette industry and other related cigarette industry
activities. PT Surya Duta Investa is the Company’s ultimate parent.
The Company’s Head Office at Jln. Semampir II/1, Kediri, East Java, and its plants are
located in Kediri, Gempol, and Solo-Kartasura. The Company also has representative
offices, which are Jakarta Representative Office at Jln. Jenderal A. Yani 79, Jakarta and
Surabaya Representative Office at Jln. Pengenal 7 – 15, Surabaya.
The Company is a leading Kretek cigarette manufacturer in Indonesia which produces

various high quality products, varied from Corn Husk Cigarette (SKL), Handmade Kretek
Cigarette (SKT) and Machine-made Kretek Cigarette (SKM) that has been distributed both
nationwide and worldwide.
Measured by total asset, products sales gain, number of employees, tax and customs and
other contributions, PT Gudang Garam Tbk. has become a national cigarette company
which gives significant contribution for Indonesia.
The company has direct ownership in subsidiaries:

• PT Surya Pamenang,
• PT Surya Madistrindo,
• PT Graha Surya Media,
• PT Surya Air, and
• PT Surya Inti Tembakau.
The end of June 2014, the Company and subsidiaries had 46,418 employees.
August 2014
Disclaimer:

GGRM Gudang Garam Tbk.
Industry Sector : Consumer Goods Industry (5) Listed Shares : 1,924,088,000
Industry Sub Sector : Tobacco Manufacturers (52) Market Capitalization : 104,285,569,600,000
9 | 104.3T | 2.06% | 42.77%
24 | 9.16T | 1.08% | 58.34%

Established Date : 26-Jun-1958 1. PT Suryamitra Kusuma 120,442,700 : 6.26%
Listing Date : 27-Aug-1990 2. PT Suryaduta Investama 1,333,146,800 : 69.29%
PT Danareksa
PT Multicorp DIVIDEND ANNOUNCEMENT
PT Merincorp Bonus Cash Recording Payment
F/I
PT Surya Securities Year Shares Dividend Cum Date Ex Date Date Date
PT Ficonensia 1991 150.00 12-Jul-91 15-Jul-91 20-Jul-91 09-Aug-91
PT Raya Saham Registra 1993 155.00 06-Jul-94 07-Jul-94 14-Jul-94 13-Aug-94 F
Plaza Central Building 2nd Fl. 1994 210.00 05-Jul-95 06-Jul-95 14-Jul-95 14-Aug-95 F
Jln. Jend. Sudirman Kav. 47 - 48 Jakarta 12930 1995 1:1 25-Apr-96 26-Apr-96 06-May-96 03-Jun-96 B
1997 120.00 03-Jul-98 07-Jul-98 15-Jul-98 13-Aug-98 F
BOARD OF COMMISSIONERS 1998 260.00 05-Jul-99 06-Jul-99 14-Jul-99 11-Aug-99 F
1. Juni Setiawati Wonowidjojo 1999 500.00 06-Jul-00 07-Jul-00 17-Jul-00 31-Jul-00 F
2. Frank Willem Van Gelder *) 2000 500.00 27-Nov-00 28-Nov-00 05-Dec-00 19-Dec-00 I
3. Gotama Hengdratsonata *) 2001 300.00 02-Jul-02 03-Jul-02 08-Jul-02 19-Jul-02 F
4. Lucas Mulia Suhardjo 2002 300.00 27-Jun-03 30-Jun-03 02-Jul-03 11-Jul-03 F
*) Independent Commissioners 2003 300.00 16-Jul-04 19-Jul-04 21-Jul-04 04-Aug-04 F
2005 500.00 21-Jul-05 22-Jul-05 26-Jul-05 08-Aug-05 F
1. Susilo Wonowidjojo 2006 250.00 23-Jul-07 24-Jul-07 26-Jul-07 09-Aug-07 F
2. Buana Susilo 2007 250.00 15-Jul-08 16-Jul-08 18-Jul-08 01-Aug-08 F
3. Fajar Sumeru 2008 350.00 14-Jul-09 15-Jul-09 17-Jul-09 30-Jul-09 F
4. Herry Susianto 2009 650.00 13-Jul-10 14-Jul-10 16-Jul-10 29-Jul-10 F
5. Heru Budiman 2010 880.00 25-Jul-11 26-Jul-11 28-Jul-11 08-Aug-11 F
6. Istata Taswin Siddharta 2011 1,000.00 30-Jul-12 31-Jul-12 02-Aug-12 16-Aug-12 F
7. Sony Sasono Rahmadi 2012 800.00 22-Jul-13 23-Jul-13 25-Jul-13 15-Aug-13 F
2013 800.00 06-Aug-14 07-Aug-14 11-Aug-14 25-Aug-14 F
AUDIT COMMITTEE
1. Frank Willem van Gelder ISSUED HISTORY
2. Bambang Susilo Listing Trading
3. Jusuf Halim No. Type of Listing Shares Date Date
1. First Issue 57,807,800 27-Aug-90 27-Aug-90
CORPORATE SECRETARY 2. Partial Listing 38,396,600 27-Aug-90 27-Feb-91
Heru Budiman 3. Founders Shares 375,197,600 31-May-94 31-May-94
4. Koperasi 9,620,000 31-May-94 00-Jan-00
HEAD OFFICE 5. Stock Split 481,022,000 03-Jun-96 03-Jun-96
Jln. Jend. A. Yani No. 79 6. Bonus Shares 962,044,000 04-Jun-96 05-Jun-96
Jakarta - 10510
Phone : (021) 420-2460
Fax : (021) 424-3136
Homepage : www.gudanggaramtbk.com
Email : corporate_secretary@gudanggaramtbk.com

TRADING ACTIVITIES
Gudang Garam Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
68,000 32.0 Jan-10 24,300 20,650 24,000 6,103 29,594 683,961 20
Feb-10 26,500 23,550 26,050 3,791 18,728 461,129 19
59,500 28.0 Mar-10 28,000 24,600 24,750 7,514 25,311 665,026 22
Apr-10 28,500 24,750 27,600 9,299 25,106 673,756 21
May-10 38,150 27,400 33,700 12,065 57,347 1,862,994 19
51,000 24.0
Jun-10 35,450 29,450 34,200 13,049 39,162 1,294,682 22
Jul-10 36,000 32,750 35,000 8,293 20,012 696,081 22
42,500 20.0
Aug-10 41,100 34,600 39,400 6,779 47,307 1,563,843 21
Sep-10 51,600 39,400 51,600 9,809 28,137 1,295,333 17
34,000 16.0
Oct-10 52,500 45,900 47,700 12,651 35,210 1,729,745 21
Nov-10 48,600 40,700 40,700 9,492 48,751 1,940,010 21
25,500 12.0 Dec-10 46,100 36,900 40,000 14,804 30,575 1,259,668 20
17,000 8.0 Jan-11 41,350 34,000 37,250 19,222 42,483 1,594,349 21

Feb-11 38,350 33,300 36,550 15,422 29,060 1,036,576 18
8,500 4.0 Mar-11 43,100 35,850 41,850 17,678 31,054 1,239,465 23
Apr-11 41,500 40,000 40,600 14,189 28,806 1,166,285 20
May-11 44,900 40,350 43,550 9,674 17,711 754,867 21
Jun-11 50,100 43,300 49,800 11,628 23,804 1,093,954 20
Jul-11 57,000 47,400 50,900 13,717 26,505 1,348,972 21
Aug-11 56,500 46,900 55,000 18,035 31,756 1,672,663 19
Sep-11 61,500 47,400 52,500 21,191 29,637 1,594,104 20
Consumer Goods Industry Index Nov-11 65,000 56,000 65,000 12,066 20,160 1,231,087 22
January 2010 - July 2014 Dec-11 67,000 59,100 62,050 13,867 20,282 1,267,505 21
245%
Jan-12 63,250 55,400 57,000 17,928 24,428 1,440,624 21
210% 207.4% Feb-12 59,850 50,050 56,750 24,119 33,685 1,855,940 21
Mar-12 57,300 51,400 55,050 20,086 30,356 1,645,012 21
175% Apr-12 60,450 55,300 59,200 16,395 25,722 1,498,625 20
May-12 61,050 54,000 54,100 17,382 25,548 1,481,745 21
148.6% Jun-12 62,800 53,350 61,500 12,187 19,587 1,147,973 21
140%
Jul-12 63,800 55,250 56,350 17,251 33,688 1,958,846 22
Aug-12 55,500 48,100 50,100 27,096 41,704 2,143,553 19
105%
97.6% Sep-12 50,500 45,900 46,450 18,256 26,130 1,247,867 20
Oct-12 53,600 46,250 49,150 18,562 34,242 1,718,568 22
70%
Nov-12 53,000 46,050 52,850 22,959 43,229 2,115,356 20
Dec-12 60,450 52,500 56,300 15,404 31,454 1,771,421 18
35%
Jan-13 57,000 49,500 51,850 20,401 36,082 1,900,377 21

- Feb-13 52,850 48,300 48,300 16,161 39,784 2,000,127 20
Mar-13 51,200 45,800 48,950 17,514 32,644 1,590,282 19
-35% Apr-13 54,450 48,600 49,400 28,414 51,702 2,660,507 22
Jun-13 54,500 45,300 50,600 22,532 31,333 1,555,537 19
Jul-13 51,600 42,250 42,350 21,809 30,731 1,419,705 23
Days 245 247 246 244 137 Dec-13 42,000 36,800 42,000 21,396 37,811 1,513,018 19
Price (Rupiah) Jan-14 45,525 39,700 41,900 36,083 31,659 1,343,558 20

High 52,500 67,000 63,800 57,800 57,925 Feb-14 48,500 40,600 47,700 32,197 27,944 1,265,725 20
Low 20,650 33,300 45,900 32,000 39,700 Mar-14 49,550 43,600 49,400 45,202 30,887 1,455,094 20
Close 40,000 62,050 56,300 42,000 54,200 Apr-14 57,125 48,075 56,500 47,605 34,082 1,778,189 20
Close* 40,000 62,050 56,300 42,000 54,200 May-14 57,925 52,050 52,050 40,365 29,671 1,633,510 18
Jun-14 55,000 51,300 53,500 27,283 14,579 775,015 21
PER (X) 18.56 24.08 26.62 18.73 19.22 Jul-14 54,475 52,075 54,200 31,574 17,100 913,076 18
PER Industry (X) 16.41 16.22 19.75 19.15 20.27
PBV (X) 3.63 4.86 4.07 2.85 3.41

Public Accountant : Siddharta & Widjaja (Member of KPMG International)
Receivables 915,004 937,987 1,382,539 2,196,086 2,102,288

20,174,168 28,020,017 26,649,777 30,241,368 31,112,597 50,000
Inventories
Current Assets 22,908,293 30,381,754 29,954,021 34,604,461 35,931,611
37,500
Fixed Assets 7,406,632 8,189,881 10,389,326 14,788,915 16,998,933
Other Assets 411,400 479,473 1,122,077 1,318,730 840,834
25,000
Total Assets 30,741,679 39,088,705 41,509,325 50,770,251 53,839,153
Growth (%) 27.15% 6.19% 22.31% 6.04% 12,500

Growth (%) 54.31% 2.52% 43.28% 8.98%
29,416
Paid up Capital 962,044 962,044 962,044 962,044 962,044 30,568
26,606
Par Value 500 500 500 500 500 21,197
24,332

18,096
Total Equity 21,197,162 24,550,928 26,605,713 29,416,271 30,568,348

Growth (%) 15.82% 8.37% 10.56% 3.92% 11,861
Total Revenues 37,691,997 41,884,352 49,028,696 55,436,954 32,667,729

Growth (%) 11.12% 17.06% 13.07%
-611
2010 2011 2012 2013 Jun-14
Cost of Revenues 28,826,410 31,754,984 39,843,974 44,563,096 26,194,093

Gross Profit 8,865,587 10,129,368 9,184,722 10,873,858 6,473,636
Expenses (Income) 3,007,726 3,514,397 3,159,041 418,214 2,250,980
Growth (%) 12.92% -8.91% 11.05% 49,029

55,437
41,884
37,692
44,128
Other Income (Expenses) -226,565 - -495,035 -755,518 -573,763

32,668
Tax 1,416,507 1,656,869 -1,461,935 1,552,272 913,947

Growth (%) 17.64% -17.94% 7.75%

10,200
Current Ratio (%) 270.08 224.48 217.02 172.21 163.24
4,958
Dividend (Rp) 880.00 1,000.00 800.00 800.00 -
4,384
4,958
4,215 4,069
EPS (Rp) 2,154.93 2,543.57 2,086.06 2,249.76 1,409.96
BV (Rp) 11,016.73 12,759.77 13,827.70 15,288.42 15,887.19 3,947
DAR (X) 0.31 0.37 0.36 0.42 0.43 2,735

0.44 0.59 0.56 0.73 0.76
2,935
DER(X)
ROA (%) 13.71 12.68 9.80 8.63 5.08 1,924
ROE (%) 19.88 20.20 15.29 14.90 8.95

GPM (%) 23.52 24.18 18.73 19.61 19.82 912
OPM (%) 15.54 15.79 12.29 12.07 12.93

NPM (%) 11.18 11.84 8.30 7.91 8.37
-99
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 40.84 39.31 38.35 35.56 -
Yield (%) 2.20 1.61 1.42 1.90 -

COMPANY REPORT
HRUM
HARUM ENERGY TBK.
Company Profile
PT Harum Energy Tbk. was originally established as PT Asia Antrasit dated October 12th,
1995.
The scope of its business activities are mainly to engage in mining, trading and services
industries. Currently, the main business activities of the Company are operating and
investing in coal mining, trading and services industries through its subsidiaries. The
The Company and its subsidiaries had 977 employees in June 30th, 2014. The ultimate
parent of the Group is PT Karunia Bara Perkasa.
PT Harum Energy Tbk. is one of the leading thermal coal producers in Indonesia with
integrated mining operations in East Kalimantan. Through its subsidiaries and joint venture
company, the Company operates three coal mines and a tug and barge operation.
The Company markets its coal to a diversified group of customers in various Asian
countries, such as Japan, South Korea, Taiwan, China and India, under both multi-year
contracts as well as spot contracts. The Company's customers include large coal-fired
power generating and manufacturing companies located throughout Asia.
The Company has ownership interest directly or indirectly, in the following subsidiaries:
• PT Mahakam Sumber Jaya,
• PT Layar Lintas Jaya,
• Harum Energy Australia Ltd.,
• PT Tambang Batubara Harum,
• PT Karya Usaha Pertiwi,
• Harum Energy Capital Ltd.
August 2014
Disclaimer:

HRUM Harum Energy Tbk. [S]
124 | 5.70T | 0.11% | 89.89%
67 | 2.79T | 0.33% | 85.49%

Established Date : 12-Oct-1995 1. PT Karunia Bara Perkasa 1,909,458,500 : 70.63%
Listing Date : 06-Oct-2010 2. Public (<5%) 794,161,500 : 29.37%
Under Writer IPO :
PT Ciptadana Securities DIVIDEND ANNOUNCEMENT
PT Mandiri Sekuritas Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2010 244.10 30-May-11 31-May-11 03-Jun-11 17-Jun-11 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2012 252.00 14-Jun-13 17-Jun-13 19-Jun-13 13-Jul-13 F
Fax : (021) 570-9026
ISSUED HISTORY
BOARD OF COMMISSIONERS Listing Trading
1. Lawrence Barki No. Type of Listing Shares Date Date
2. Agus Rajani Panjaitan *) 1. First Issue 200,000,000 06-Oct-10 06-Oct-10
3. Budi Rahardja 2. Founder Divestment 300,000,000 06-Oct-10 06-Oct-10
4. Sony Budi Harsono *) 3. Over Allotment 50,000,000 06-Oct-10 06-Oct-10
5. Yun Mulyana 4. Company Listing 2,150,000,000 06-Oct-10 06-Oct-10
*) Independent Commissioners 5. EMSOP I 67,500 29-Dec-11 29-Dec-11
6. EMSOP I 32,500 05-Jan-12 05-Jan-12
BOARD OF DIRECTORS 7. EMSOP I 100,000 06-Jan-12 06-Jan-12
1. Ray Antonio Gunara 8. EMSOP I 700,000 11-Jan-12 11-Jan-12
2. David John Heap 9. EMSOP I 2,195,000 17-Jan-12 17-Jan-12
3. Eddy Sumarsono 10. EMSOP I 450,000 18-Jan-12 18-Jan-12
4. Kenneth Scott Andrew Thompson 11. EMSOP I 75,000 09-Jan-13 09-Jan-13
AUDIT COMMITTEE
1. Agus Rajani Panjaitan
2. Simon Halim
3. Sony Budi Harsono
CORPORATE SECRETARY
Alexandra Mira Sukmawati
HEAD OFFICE
Gedung Deutsche Bank, 9th Fl.
Jln. Imam Bonjol No. 80
Jakarta Pusat - 10310
Phone : (021) 3983-1288
Fax : (021) 3983-1289
Homepage : www.harumenergy.com
Email : corsec@harumenergy.com

TRADING ACTIVITIES
Harum Energy Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
Price* October 2010 - July 2014 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
12,000 480 Oct-10 6,250 5,200 5,850 13,106 616,082 3,313,064 18
Nov-10 7,500 5,700 6,800 14,074 326,375 2,098,719 21
10,500 420 Dec-10 9,300 6,700 9,000 9,938 153,334 1,190,619 20
Jan-11 9,900 7,850 7,950 16,665 167,756 1,522,888 21

9,000 360
Feb-11 8,850 7,800 8,250 12,047 90,045 750,518 18
Mar-11 9,200 8,000 8,950 16,155 125,252 1,106,944 23
7,500 300
Apr-11 9,650 8,800 9,600 10,989 94,679 875,894 20
May-11 9,600 9,000 9,150 10,224 371,793 3,386,010 21
6,000 240
Jun-11 9,800 8,900 9,550 10,455 124,702 1,165,277 20
Jul-11 10,700 9,400 9,700 11,670 104,088 1,037,826 21
4,500 180 Aug-11 9,950 7,400 7,750 24,480 215,394 1,846,874 19
Sep-11 8,950 6,300 7,100 23,986 208,796 1,600,802 20
3,000 120 Oct-11 8,500 5,900 7,850 24,421 236,783 1,717,275 21
Nov-11 8,400 6,700 6,700 19,886 187,053 1,414,934 22
1,500 60 Dec-11 7,600 6,600 6,850 18,064 174,210 1,216,834 21
Jan-12 7,650 6,750 7,600 13,157 133,467 972,512 21

Feb-12 9,000 7,450 8,800 14,546 176,333 1,459,716 21
Oct-10 Oct-11 Oct-12 Oct-13
Mar-12 8,850 7,900 8,150 13,495 127,098 1,057,144 21
Apr-12 8,450 7,100 7,150 20,900 185,916 1,434,320 20
May-12 7,400 6,000 6,100 24,298 195,195 1,310,667 21
Closing Price*, Jakarta Composite Index (IHSG) and Jun-12 6,150 5,100 5,700 27,831 250,729 1,425,599 21
Mining Index Jul-12 6,350 5,500 5,650 22,986 199,620 1,177,473 22
October 2010 - July 2014 Aug-12 6,350 5,500 5,850 12,096 155,985 930,617 19
100% Sep-12 6,500 5,800 5,900 14,366 174,280 1,075,603 20
Oct-12 5,950 5,300 5,400 12,203 100,626 561,569 22
75% Nov-12 5,550 4,950 5,000 8,090 74,548 395,433 20
Dec-12 6,250 4,875 6,000 16,661 179,121 1,007,799 18
50%
41.2% Jan-13 6,700 5,900 6,000 17,532 122,383 767,026 21
25% Feb-13 6,250 5,400 5,500 11,483 87,239 511,082 20
Mar-13 5,550 4,800 4,800 18,018 174,275 903,433 19
Apr-13 5,150 4,100 4,150 16,550 154,557 741,992 22
-
May-13 4,500 3,725 3,925 21,482 178,916 720,133 22
Jun-13 4,175 3,025 3,025 23,240 122,349 437,137 19
-25%
Jul-13 3,375 2,600 2,600 17,348 133,089 393,305 23
Aug-13 3,300 2,350 3,225 17,505 184,011 521,635 17
-44.8%
-50% Sep-13 3,825 2,650 2,700 22,920 194,350 646,763 21
-61.3% Oct-13 3,325 2,650 3,150 19,067 194,409 594,262 21
-75% Nov-13 3,700 3,150 3,300 14,639 174,952 610,100 20
Dec-13 3,400 2,675 2,750 15,058 127,409 405,756 19
-100%
Oct 10 Oct 11 Oct 12 Oct 13 Jan-14 2,850 2,285 2,395 31,736 179,606 448,012 20
Feb-14 2,475 2,265 2,400 25,977 172,625 410,795 20
Mar-14 2,460 2,155 2,185 22,836 121,357 292,856 20
SHARES TRADED 2010 2011 2012 2013 Jul-14 Apr-14 2,415 2,090 2,360 27,536 177,365 402,468 20
Volume (Million Sh.) 1,096 2,101 1,953 1,848 1,174 May-14 2,565 2,170 2,425 34,300 244,295 588,784 18
Value (Billion Rp) 6,602 17,642 12,808 7,253 2,790 Jun-14 2,520 2,260 2,325 26,585 160,089 386,682 21
Frequency (Thou. X) 37 199 201 215 194 Jul-14 2,390 2,050 2,110 24,745 118,705 260,092 18
Days 59 247 246 244 137
Price (Rupiah)
High 9,300 10,700 9,000 6,700 2,850
Low 5,200 5,900 4,875 2,350 2,050
Close 9,000 6,850 6,000 2,750 2,110
Close* 9,000 6,850 6,000 2,750 2,110
PER (X) 29.49 10.82 12.02 13.23 5.69

PER Industry (X) 17.69 16.17 8.49 19.30 4.45
PBV (X) 10.57 5.20 4.07 1.62 1.21

Receivables 468,947 572,505 659,863 656,824 149,968

296,910 626,515 985,392 346,558 374,870 5,000
Inventories
Current Assets 1,808,378 2,866,473 3,245,066 3,492,764 3,472,022
3,750
Fixed Assets 1,011,109 1,077,768 1,185,287 1,423,950 1,332,089
Other Assets 15,134 18,274 23,877 21,713 36,565
2,500
Total Assets 3,470,174 4,645,148 5,208,642 5,897,221 5,698,699
Growth (%) 33.86% 12.13% 13.22% -3.37% 1,250
Current Liabilities 866,081 1,070,554 1,036,181 1,011,515 1,038,933 -

Total Liabilities 925,284 1,088,167 1,063,699 1,050,871 1,081,619
Growth (%) 17.60% -2.25% -1.21% 2.93%
4,617
Paid up Capital 270,000 270,000 279,235 270,362 270,362 4,846
4,145
3,557
Par Value 100 100 100 100 100
3,858
Retained Earnings 974,086 1,779,263 2,046,655 2,253,014 2,112,253

2,869
Total Equity 2,298,506 3,556,981 4,144,943 4,846,351 4,617,080 2,299
Growth (%) 54.75% 16.53% 16.92% -4.73% 1,880
Total Revenues 4,486,422 7,296,631 10,088,722 10,270,969 3,141,688

Growth (%) 62.64% 38.27% 1.81%
-97
2010 2011 2012 2013 Jun-14
Cost of Revenues 2,909,766 4,322,420 7,004,135 8,116,717 2,505,289

Gross Profit 1,576,656 2,974,211 3,084,587 2,154,251 636,398
Expenses (Income) 433,900 655,876 1,024,783 1,380,332 353,684
Operating Profit 1,142,756 - - - - 10,089 10,271
10,271
Growth (%) N/A

8,176
7,297
Other Income (Expenses) -47,311 - - - -
Income before Tax 1,227,359 2,318,335 2,059,804 773,919 282,714 6,080
4,486
Tax 246,153 539,351 496,454 165,572 44,513
Profit for the period 981,206 1,778,984 1,563,350 608,348 238,201
3,985
3,142
Growth (%) 81.31% -12.12% -61.09%

1,890
Period Attributable 823,940 1,464,247 1,272,754 513,475 216,089 -205
Comprehensive Income 1,056,626 1,709,316 1,511,063 531,148 195,679 2010 2011 2012 2013 Jun-14
Comprehensive Attributable 899,360 1,394,579 1,221,303 435,580 173,419
Current Ratio (%) 208.80 267.76 313.18 345.30 334.19
1,779
Dividend (Rp) 244.10 380.00 252.00 110.00 - 1,779
1,563
EPS (Rp) 305.16 542.31 455.80 189.92 79.93
BV (Rp) 851.30 1,317.40 1,484.39 1,792.54 1,707.74 1,416
DAR (X) 0.27 0.23 0.20 0.18 0.19 981

1,053
DER(X) 0.40 0.31 0.26 0.22 0.23

ROA (%) 28.28 38.30 30.01 10.32 4.18 690
608
ROE (%) 42.69 50.01 37.72 12.55 5.16
35.14 40.76 30.57 20.97 20.26 238
GPM (%) 327
OPM (%) 25.47 - - - -

NPM (%) 21.87 24.38 15.50 5.92 7.58
-36
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 79.99 70.07 55.29 57.92 -
Yield (%) 2.71 5.55 4.20 4.00 -

COMPANY REPORT
ICBP
INDOFOOD CBP SUKSES MAKMUR TBK.
Company Profile
PT Indofood CBP Sukses Makmur Tbk. was established in the Republic of Indonesia on
September 2nd, 2009.
The Company was the result of the spin-off of the Noodle Division and Food Ingredients
Division of PT Indofood Sukses Makmur Tbk., the controlling shareholder of the Company,
and started to carry out the related business operations on October 1st, 2009.
The scope of its activities comprises, among others, the manufacture of noodles and food
ingredients, culinary food products, biscuits, snacks, nutrition and special foods, packaging,
trading, transportation, warehousing and cold storage, management services, and research
and development.
The Company’s head office is located in Jakarta, while the Company and its Subsidiaries’
factories are located in various locations in Java, Sumatera, Kalimantan, Sulawesi Islands
and Malaysia.
PT Indofood Sukses Makmur, Indonesia, and First Pacific Company Limited, Hong Kong, are
the parent entity and the ultimate parent entity, respectively, of the Company.
The Company is an established market-leading producer of packaged food products with a

diverse range of products providing everyday food solutions for consumers of all ages.
Many of its products brands are among the strongest brands with significant Top-of-Mind
status in Indonesia and have gained the trust and loyalty of millions of consumers in
Indonesia for decades.
The Company has direct share ownerships in the following subsidiaries:

• Drayton Pte. Ltd.,
• Indofood (M) Food Industries Sdn. Bhd.,
• PT Surya Rengo Containers,
• PT Indofood Fritolay Makmur,
• PT Indofood Asahi Sukses Beverage,
• PT Indofood Tsukishima Sukses Makmur.
The long-term investment in the associated entity are PT Nestle Indofood Citarasa
Indonesia, PT Asahi Indofood Beverage Makmur and PT Prima Cahaya Indobeverages. As
of June 30th, 2014, the Group had 31,569 employees.
August 2014
Disclaimer:

ICBP Indofood CBP Sukses Makmur Tbk. [S]
Industry Sub Sector : Food And Beverages (51) Market Capitalization : 60,933,469,300,000
17 | 60.9T | 1.21% | 55.41%
42 | 5.87T | 0.69% | 73.66%

Established Date : 02-Sep-2009 1. PT Indofood Sukses Makmur Tbk. 4,664,763,000 : 80.00%
Under Writer IPO :
PT Kim Eng Securities DIVIDEND ANNOUNCEMENT
PT Credit Suisse Securities Indonesia Bonus Cash Recording Payment
F/I
PT Deutsche Securities Indonesia Year Shares Dividend Cum Date Ex Date Date Date
PT Mandiri Sekuritas 2010 116.00 21-Jun-11 22-Jun-11 24-Jun-11 07-Jul-11 F
Securities Administration Bureau : 2011 169.00 13-Jul-12 16-Jul-12 18-Jul-12 31-Jul-12 F
PT Raya Saham Registra 2013 190.00 10-Jul-14 11-Jul-14 15-Jul-14 05-Aug-14 F
Plaza Central Building 2nd Fl.
Jln. Jend. Sudirman Kav. 47 - 48 Jakarta 12930 ISSUED HISTORY
Phone : (021) 252-5666 Listing Trading
Fax : (021) 252-5028 No. Type of Listing Shares Date Date
1. First Issue 1,166,191,000 07-Oct-10 07-Oct-10
BOARD OF COMMISSIONERS 2. Company Listing 4,664,763,000 07-Oct-10 07-Apr-11
1. Benny Setiawan Santoso
2. Adi Pranoto Leman *)
3. Alamsyah
4. F.G. Winarno *)
5. Franciscus Welirang
6. Moleonoto
7. Wahjudi Prakarsa *)
BOARD OF DIRECTORS
1. Anthoni Salim
2. Axton Salim
3. Hendra Widjaja
4. Suaimi Suriady
5. Sulianto Pratama
6. Taufik Wiraatmadja
7. Tjhie Tje Fie
8. Werianty Setiawan
9. Yungky Setiawan
AUDIT COMMITTEE
1. Adi Pranoto Leman
2. Timotius
3. Wahjudi Prakarsa
CORPORATE SECRETARY
Elly Putranti
HEAD OFFICE
Sudirman Plaza, Indofood Tower 25th Fl.
Jln. Jend. Sudirman Kav. 76 - 78
Jakarta - 12910
Phone : (021) 5795-8822
Fax : (021) 5793-7373
Homepage : www.indofoodcbp.com
Email : elly.putranti@icbp.indofood.co.id

TRADING ACTIVITIES
Indofood CBP Sukses Makmur Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
14,000 320 Oct-10 6,200 5,150 5,700 18,244 682,038 3,893,907 17
Nov-10 5,750 5,000 5,100 12,136 249,442 1,312,257 21
12,250 280 Dec-10 5,200 4,400 4,675 19,178 309,605 1,454,968 20
Jan-11 5,150 4,350 4,575 15,091 248,406 1,177,703 21

10,500 240
Feb-11 4,675 4,300 4,575 7,386 120,754 540,317 18
Mar-11 5,300 4,600 5,300 8,462 167,772 824,126 23
8,750 200
Apr-11 5,450 5,100 5,400 5,234 109,382 584,014 20
May-11 5,400 5,050 5,050 4,707 108,877 569,475 21
7,000 160
Jun-11 5,450 4,925 5,400 4,174 81,379 418,328 20
Jul-11 5,800 5,400 5,800 5,994 118,404 673,478 21
5,250 120 Aug-11 6,000 5,300 5,300 7,456 128,240 727,782 19
Sep-11 5,600 3,800 4,925 11,353 159,002 800,880 20
3,500 80 Oct-11 5,750 4,650 5,300 5,355 53,012 279,275 21
Nov-11 5,300 4,875 5,150 5,991 89,997 458,703 22
1,750 40 Dec-11 5,250 4,875 5,200 3,224 44,489 224,012 21
Jan-12 5,350 4,975 5,100 4,570 86,150 439,212 21

Feb-12 5,650 5,050 5,650 5,499 86,833 470,009 21
Mar-12 5,700 5,150 5,450 6,691 70,684 380,098 21
Apr-12 5,650 5,000 5,650 5,021 89,511 468,937 20
May-12 5,900 5,400 5,650 4,606 82,359 472,137 21
Closing Price*, Jakarta Composite Index (IHSG) and Jun-12 5,850 5,400 5,750 3,477 49,711 282,356 21
Consumer Goods Industry Index Jul-12 6,850 5,700 6,600 8,760 144,591 897,445 22
October 2010 - July 2014 Aug-12 6,850 6,400 6,550 5,188 58,263 385,634 19
150% Sep-12 6,650 6,150 6,350 7,021 67,678 431,645 20
Oct-12 7,750 6,300 7,150 9,940 111,373 787,349 22
125% Nov-12 7,550 6,900 7,400 5,982 74,371 536,371 20
Dec-12 8,300 7,300 7,800 6,712 68,335 532,860 18
100%
Jan-13 8,700 7,600 8,000 8,421 69,143 552,825 21
75% 75.6% Feb-13 8,650 7,900 8,500 7,470 78,410 638,909 20
72.9% Mar-13 9,900 8,200 9,600 13,589 108,935 974,749 19
Apr-13 11,700 9,500 11,450 23,016 106,833 1,118,431 22
50%
41.9% May-13 13,400 11,500 13,100 35,135 183,672 2,300,353 22
Jun-13 13,000 9,850 12,200 26,910 111,166 1,270,060 19
25%
Jul-13 12,500 10,350 11,200 20,502 81,983 913,934 23
Aug-13 11,650 8,700 10,000 15,325 68,204 680,778 17
- Sep-13 12,200 8,900 10,250 19,020 91,623 932,990 21
Oct-13 11,500 10,200 11,200 15,121 73,454 805,810 21
-25% Nov-13 11,300 9,750 10,000 19,144 71,526 740,344 20
Dec-13 10,300 9,550 10,200 12,888 36,835 368,146 19
-50%
Feb-14 11,350 10,450 11,175 33,839 78,008 852,458 20
Mar-14 11,300 9,950 10,100 40,130 124,778 1,318,297 20
SHARES TRADED 2010 2011 2012 2013 Jul-14 Apr-14 10,275 9,800 10,000 31,126 113,027 1,131,541 20
Volume (Million Sh.) 1,241 1,430 990 1,082 564 May-14 10,400 9,925 10,200 22,065 55,236 557,582 18
Days 58 247 246 244 137
Price (Rupiah)
High 6,200 6,000 8,300 13,400 11,700
Low 4,400 3,800 4,975 7,600 9,800
Close 4,675 5,200 7,800 10,200 10,450
Close* 4,675 5,200 7,800 10,200 10,450
PER (X) 16.00 14.69 19.88 24.06 22.75

PER Industry (X) 16.41 16.22 19.75 19.15 20.27
PBV (X) 3.06 2.83 3.79 4.62 4.42

Receivables 2,026,249 2,378,402 2,328,181 2,549,415 4,194,203

1,422,466 1,629,883 1,812,887 2,868,722 2,556,866 20,000
Inventories
Current Assets 7,017,835 8,580,311 9,888,440 11,321,715 13,992,259
15,000
Fixed Assets 2,304,588 2,590,036 3,839,756 4,844,407 5,261,541
Other Assets 136,855 169,718 - 888,529 184,747
10,000
Total Assets 13,361,313 15,222,857 17,753,480 21,267,470 24,595,537
Growth (%) 13.93% 16.62% 19.79% 15.65% 5,000

Growth (%) 12.85% 27.78% 38.76% 35.17%
13,266
Paid up Capital 583,095 583,095 583,095 583,095 583,095 13,780
11,987
Par Value 100 100 100 100 100
10,969
8,920
8,158
Total Equity 8,919,546 10,709,773 11,986,798 13,265,731 13,779,975

Growth (%) 20.07% 11.92% 10.67% 3.88% 5,347
Total Revenues 17,960,120 19,367,155 21,574,792 25,094,681 15,522,285

Growth (%) 7.83% 11.40% 16.31%
-276
2010 2011 2012 2013 Jun-14
Cost of Revenues 12,993,217 14,335,896 15,796,183 18,668,990 11,554,846

Gross Profit 4,966,903 5,031,259 5,778,609 6,425,691 3,967,439
Expenses (Income) 2,322,011 2,423,258 -2,936,549 3,653,767 2,264,756
Growth (%) -1.39% 8.97% -2.47%

25,095
21,575
19,367
19,975
17,960
Other Income (Expenses) -125,750 136,909 185,130 195,066 37,646 15,522
Tax 666,913 678,545 -744,819 733,699 452,882

Growth (%) 13.05% 10.45% -2.07%

4,617
Current Ratio (%) 259.80 287.11 276.25 241.06 194.17
2,282 2,235
Dividend (Rp) 116.00 169.00 - 190.00 - 2,282
2,066
EPS (Rp) 292.24 338.77 373.80 381.63 229.64 1,828
BV (Rp) 1,529.69 1,836.71 2,055.72 2,275.05 2,363.25 1,817
DAR (X) 0.30 0.30 0.32 0.38 0.44 1,287

0.45 0.42 0.48 0.60 0.78
1,351
DER(X)
ROA (%) 13.68 13.57 12.86 10.51 5.23 886
ROE (%) 20.49 19.29 19.04 16.85 9.34

GPM (%) 27.66 25.98 26.78 25.61 25.56 420
OPM (%) 14.73 13.47 13.17 11.05 10.97

NPM (%) 10.18 10.67 10.58 8.91 8.29
-46
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 39.69 49.89 - 49.79 -
Yield (%) 2.48 3.25 - 1.86 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
INCO
VALE INDONESIA TBK.
Company Profile
PT Vale Indonesia Tbk. (formerly International Nickel Indonesia Tbk.) was established on
July 25th, 1968.
The Company’s immediate parent company is Vale Canada Limited and e ultimate parent
entity is Vale S.A., a company established under the laws of the Federal Republic of Brazil.
The Company’s plant is located in Sorowako, South Sulawesi and the registered office is
located in Jakarta.
The Company’s main activities are exploration and mining, processing, storage,
transportation and marketing of nickel and associated mineral products. The Company
started its commercial operations in 1978.
PT Vale Indonesia Tbk. is one of the world’s premier producers of nickel. A versatile metal,
which is important in improving living standards and fostering economic growth. For more
than three decades, since the signing of its Contract of Work with the Indonesian
Government in 1968, the Company has provided skilled jobs, shown concern for the needs
of the communities in which it operates, benefited shareholders and contributed positively
to the Indonesian economy.
The total number of employees at June 30th, 2014 was 3,223.
August 2014
Disclaimer:

INCO Vale Indonesia Tbk. [S]
Industry Sub Sector : Metal And Mineral Mining (23) Market Capitalization : 39,993,763,348,000
24 | 40.0T | 0.79% | 61.55%
28 | 8.10T | 0.96% | 62.31%

Established Date : 25-Jul-1968 1. Sumitomo Metal Mining Co Ltd 1,996,281,680 : 20.09%
Listing Date : 16-May-1990 2. Vale Canada Limited 2,835,607,960 : 58.73%
PT Danareksa Sekuritas
PT Vale Indonesia Tbk. Bonus Cash Recording Payment
F/I
Plaza Bapindo - Citibank Tower 22nd Fl. Year Shares Dividend Cum Date Ex Date Date Date
Jln. Jend. Sudirman Kav. 54 - 55, Jakarta 12190 1990 USD 0.35 17-Sep-90 18-Sep-90 25-Sep-90 25-Oct-90 I
Phone : (021) 524-9000 1991 USD 0.15 20-Mar-91 21-Mar-91 28-Mar-91 30-Apr-91
Fax : (021) 524-9020 1991 USD 0.15 19-Sep-91 20-Sep-91 30-Sep-91 30-Oct-91 I
1991 USD 0.15 19-Mar-92 20-Mar-92 27-Mar-92 30-Apr-92 I
BOARD OF COMMISSIONERS 1992 USD 0.05 15-Apr-93 16-Apr-93 23-Apr-93 21-May-93 F
1. Ricardo Rodrigues de Carvalho 1993 USD 0,05 25-Apr-94 26-Apr-94 03-May-94 01-Jun-94 F
2. Akira Nozaki 1994 USD 0,05 28-Oct-94 31-Oct-94 07-Nov-94 07-Dec-94 I
3. Arief T. Surowidjojo *) 1994 USD 0,05 24-Apr-95 25-Apr-95 02-May-95 02-Jun-95 F
4. Gerd Peter Poppinga 1995 USD 0,05 03-Nov-95 04-Nov-95 14-Nov-95 13-Dec-95 I
5. Idrus Paturusi *) 1995 USD 0,05 26-Apr-96 29-Apr-96 07-May-96 05-Jun-96 F
6. Irwandi Arif *) 1996 USD 0.05 04-Nov-96 05-Nov-96 13-Nov-96 12-Dec-96 I
7. Jennifer Maki 1996 121.60 25-Apr-97 28-Apr-97 06-May-97 04-Jun-97 F
8. Kevin James Graham 1997 174.15 10-Nov-97 11-Nov-97 19-Nov-97 18-Dec-97 I
9. Mark James Travers 2002 84.65 29-Apr-03 30-Apr-03 02-May-03 19-May-03 F
10. Mikinobu Ogata 2002 10.61 13-Nov-03 14-Nov-03 18-Nov-03 05-Dec-03 F
*) Independent Commissioners 2003 USD 0,15 23-Apr-04 26-Apr-04 28-Apr-04 13-May-04 F
2004 USD 0.0125 04-Nov-04 05-Nov-04 09-Nov-04 25-Nov-04 F
BOARD OF DIRECTORS 2004 USD 0.0975 19-Apr-05 20-Apr-05 25-Apr-05 10-May-05 F
1. Nicolaas D. Kanter 2005 USD 0.025 22-Nov-05 23-Nov-05 25-Nov-05 08-Dec-05 F
2. Bernardus Irmanto 2005 745.88 25-Apr-06 26-Apr-06 28-Apr-06 12-May-06 F
3. Febriany Eddy 2006 USD 0.025 17-Nov-06 20-Nov-06 22-Nov-06 05-Dec-06 F
4. Josimar Souza Pires 2006 454.50 24-Apr-07 27-Apr-07 27-Apr-07 11-May-07 F
2007 USD 0,9787 20-Nov-07 21-Nov-07 23-Nov-07 07-Dec-07 I
AUDIT COMMITTEE 2007 USD 0.02264 16-Apr-08 17-Apr-08 21-Apr-08 06-May-08 F
1. Arief T. Surowidjojo 2009 USD 0,01107 09-Dec-09 10-Dec-09 14-Dec-09 29-Dec-09 I
2. Erry Firmansyah 2010 178.44 05-Oct-10 06-Oct-10 08-Oct-10 22-Oct-10 I
3. Sidharta Utama 2010 125.06 02-May-11 03-May-11 05-May-11 20-May-11 F
2011 89.68 02-Nov-11 03-Nov-11 07-Nov-11 21-Nov-11 I
CORPORATE SECRETARY 2011 79.70 14-May-12 15-May-12 21-May-12 01-Jun-12 F
Ratih Amri 2012 24.31 06-Dec-12 07-Dec-12 11-Dec-12 27-Dec-12 I
2012 24.70 14-May-13 15-May-13 17-May-13 31-May-13 F
HEAD OFFICE 2013 30.14 29-Nov-13 02-Dec-13 04-Dec-13 18-Dec-13 I
Bapindo Plaza II, 22th Fl.
Jln. Jend Sudirman Kav. 54 - 55 ISSUED HISTORY
Jakarta - 12190 Listing Trading
Phone : (021) 524-9000, 524-9002 No. Type of Listing Shares Date Date
Fax : (021) 524-9020 1. First Issue 49,681,694 16-May-90 16-May-90
2. Company Listing 198,726,774 31-Jan-01 31-Jan-01
Homepage : www.vale.com/indonesia 3. Stock Split 745,225,404 03-Aug-04 03-Aug-04
Email : ratih.amri@valeinco.com 4. Stock Split 8,942,704,848 15-Jan-08 15-Jan-08

TRADING ACTIVITIES
Vale Indonesia Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
5,200 160 Jan-10 4,025 3,500 3,575 23,015 367,204 1,387,882 20
Feb-10 3,900 3,350 3,775 18,721 370,478 1,357,914 19
4,550 140 Mar-10 4,775 3,800 4,725 27,995 512,410 2,157,873 22
Apr-10 5,200 4,525 5,000 24,035 433,526 2,125,079 21
May-10 5,100 3,200 3,950 44,740 604,967 2,486,214 19
3,900 120
Jun-10 4,100 3,575 3,750 21,648 332,222 1,283,489 22
Jul-10 4,225 3,600 4,125 29,217 418,639 1,632,183 22
3,250 100
Aug-10 4,475 4,050 4,275 25,349 454,709 1,958,522 21
Sep-10 4,900 4,125 4,875 23,841 369,848 1,694,722 17
2,600 80
Oct-10 5,100 4,650 4,750 23,002 290,737 1,423,720 21
Nov-10 5,000 4,475 4,475 20,292 282,953 1,363,220 21
1,950 60 Dec-10 4,875 4,425 4,875 15,850 146,351 681,539 20
1,300 40 Jan-11 5,000 4,475 4,600 19,615 217,052 1,032,126 21

Feb-11 5,200 4,675 5,050 15,698 182,851 911,378 18
650 20 Mar-11 5,150 4,525 4,775 27,569 263,637 1,259,948 23
Apr-11 5,100 4,675 4,975 22,181 224,850 1,095,998 20
May-11 5,000 4,775 4,775 14,242 181,462 878,385 21
Jun-11 4,850 4,375 4,500 14,822 138,739 634,003 20
Jul-11 4,600 4,225 4,250 17,072 154,731 679,451 21
Aug-11 4,325 3,275 3,650 21,889 196,592 752,722 19
Sep-11 4,050 2,850 3,025 21,706 124,389 431,854 20
Mining Index Nov-11 3,650 3,000 3,050 15,009 105,240 349,325 22
January 2010 - July 2014 Dec-11 3,300 2,975 3,200 11,353 93,821 291,926 21
125%
Jan-12 4,050 3,150 4,000 16,222 136,649 488,753 21
100% 97.6% Feb-12 4,050 3,425 3,625 21,630 244,576 896,760 21
Mar-12 3,625 3,300 3,375 16,820 176,733 606,434 21
75% Apr-12 3,375 3,025 3,100 17,770 235,208 752,854 20
May-12 3,125 2,250 2,500 21,967 224,183 596,323 21
50% Jun-12 2,675 2,200 2,675 21,761 238,700 579,306 21
Jul-12 2,900 2,400 2,425 13,954 127,868 345,078 22
Aug-12 2,475 2,250 2,300 10,714 94,081 223,583 19
25%
Sep-12 3,100 2,250 2,950 18,317 251,490 686,458 20
3.9% Oct-12 2,950 2,500 2,700 12,939 134,995 360,581 22
-
Nov-12 2,750 2,025 2,075 19,826 282,528 645,022 20
Dec-12 2,475 2,100 2,350 14,110 265,884 605,288 18
-25%
-33.0%
Jan-13 2,900 2,350 2,750 16,519 264,254 707,204 21
-50% Feb-13 3,075 2,600 2,700 15,878 189,153 535,185 20
Mar-13 2,850 2,350 2,375 18,082 156,260 416,753 19
-75% Apr-13 2,850 2,375 2,850 11,715 243,235 608,803 22
Jun-13 2,575 1,920 2,025 14,312 129,454 294,878 19
Jul-13 2,175 1,770 1,770 26,994 275,925 550,652 23
Days 245 247 246 244 137 Dec-13 2,800 2,300 2,650 11,825 197,647 515,246 19
Price (Rupiah) Jan-14 2,800 2,115 2,305 28,319 285,267 707,505 20

High 5,200 5,200 4,050 3,075 4,240 Feb-14 2,650 2,230 2,390 26,254 267,495 658,048 20
Low 3,200 2,525 2,025 1,770 2,115 Mar-14 2,850 2,390 2,820 42,732 554,968 1,485,366 20
Close 4,875 3,200 2,350 2,650 4,025 Apr-14 3,745 2,815 3,550 44,937 476,712 1,599,051 20
Close* 4,875 3,200 2,350 2,650 4,025 May-14 4,240 3,430 3,915 57,730 454,246 1,775,539 18
Jun-14 3,965 3,525 3,555 27,874 191,590 711,230 21
PER (X) 12.34 10.51 38.48 35.97 43.22 Jul-14 4,025 3,525 4,025 40,957 310,152 1,162,055 18
PER Industry (X) 17.69 16.17 8.49 19.30 4.45
PBV (X) 3.21 1.98 1.40 1.30 1.95

Receivables 1,784,934 1,776,340 2,098,980 808,618 1,535,443

915,630 1,480,541 1,478,050 1,852,721 1,797,277 23,000
Inventories
Current Assets 6,389,598 7,077,773 5,462,486 6,840,464 7,479,991
17,250
Fixed Assets 13,148,353 14,321,555 15,709,602 20,267,120 19,460,074
Other Assets 115,107 142,431 - 164,602 144,980
11,500
Total Assets 19,663,930 21,956,911 22,560,884 27,989,330 27,754,782
Growth (%) 11.66% 2.75% 24.06% -0.84% 5,750

Growth (%) 29.06% 0.01% 17.59% -7.65%
21,034
Paid up Capital 248,408 248,408 248,408 248,408 248,408 21,332

16,043
Par Value 25 25 25 25 25
16,980
15,082

12,628
Total Equity 15,081,604 16,042,824 16,646,267 21,034,044 21,331,834

Growth (%) 6.37% 3.76% 26.36% 1.42% 8,277
Total Revenues 11,458,828 11,267,489 9,354,052 11,308,498 5,774,767

Growth (%) -1.67% -16.98% 20.89%
-427
2010 2011 2012 2013 Jun-14
Cost of Revenues 5,855,856 6,607,271 7,742,015 9,591,999 4,272,167

Gross Profit 5,602,972 4,660,217 1,612,037 1,716,499 1,502,600
Expenses (Income) 248,727 558,562 -578,237 855,918 327,137
Operating Profit 5,354,246 4,101,656 1,033,800 860,581 1,175,464 11,459 11,267 11,308
Growth (%) -23.39% -74.80% -16.76%

9,354
9,121
Other Income (Expenses) -134,948 - 149,740 180,099 80,085

Income before Tax 5,219,297 4,101,656 884,060 680,482 1,095,379 6,784
5,775
Tax 1,292,652 1,075,093 231,393 206,222 281,595
Profit for the period 3,926,645 3,026,563 652,667 474,260 813,784
4,446
Growth (%) -22.92% -78.44% -27.34%

2,108
Period Attributable 3,926,645 3,026,563 652,667 474,260 813,784 -229
Comprehensive Income 3,926,645 3,026,563 652,667 526,530 813,784 2010 2011 2012 2013 Jun-14
Comprehensive Attributable 3,926,645 3,026,563 652,667 526,530 813,784
Current Ratio (%) 450.16 436.49 340.98 330.07 367.62
3,927
Dividend (Rp) 303.50 169.38 49.01 30.14 - 3,927
EPS (Rp) 395.18 304.60 65.68 47.73 81.90 3,027

BV (Rp) 1,517.82 1,614.56 1,675.29 2,116.88 2,146.85 3,126
DAR (X) 0.23 0.27 0.26 0.25 0.23

2,325
DER(X) 0.30 0.37 0.36 0.33 0.30

ROA (%) 19.97 13.78 2.89 1.69 2.93 1,524
ROE (%) 26.04 18.87 3.92 2.25 3.81 814

653
GPM (%) 48.90 41.36 17.23 15.18 26.02 723 474
OPM (%) 46.73 36.40 11.05 7.61 20.36

NPM (%) 34.27 26.86 6.98 4.19 14.09
-79
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 76.80 55.61 74.62 63.15 -
Yield (%) 6.23 5.29 2.09 1.14 -

COMPANY REPORT
INDF
INDOFOOD SUKSES MAKMUR TBK.
Company Profile
PT Indofood Sukses Makmur Tbk. is a leading Total Food Solutions Company with
operation spanning from the production of raw materials and their processing, to
consumer products in the market. Indofood capitalizes on its resilient business model with
five complementary Strategic Business Groups, namely: Consumer Branded Products. Its
business activities are conducted by PT Indofood CBP Sukses Makmur Tbk., which was
listed on the Indonesia Stock Exchange from 7 October 2010.
ICBP is one of the leading consumer branded product producers in Indonesia, with a wide
range of consumer products. In 2013, ICBP started its non-alcoholic beverage business, and
has current portfolio of ready-to-drink tea, packaged water, carbonated soft drinks and
fruit juice drinks.
Bogasari. The Group is primarily a producer of wheat flour and pasta, with business
operations supported by its own shipping and packaging units.
Agribusiness. The Group is led by Indofood Agri Resources Ltd., listed on the Singapore
Stock Exchange. Both of IndoAgri’s subsidiaries, PT Salim Ivomas Pratama Tbk. and PT PP
London Sumatra Indonesia Tbk., are listed on the IDX. The Group’s principal business
activities range from research and development, seed breeding, oil palm cultivation and
milling to the production and marketing of branded cooking oils, margarine and
shortening. In addition, the Group is also involved in the cultivation and processing of
rubber and sugar cane as well as other crops. In 2013, IndoAgri initiated expansion of its
global business through equity investment in the sugar business in Brazil and the
Philippines.
Distribution. With the most extensive distribution network in Indonesia, this Group
distributes the majority of Indofood’s and its subsidiaries’ consumer products as well as
other third-party products.
Cultivation & Processed Vegetables. This Group activities are conducted by China
Minzhong Food Corporation Limited, which is listed on the SGX and is an integrated
vegetable processing company in the People's Republic of China.
August 2014
Disclaimer:

INDF Indofood Sukses Makmur Tbk. [S]
Industry Sub Sector : Food And Beverages (51) Market Capitalization : 62,121,517,487,500
16 | 62.1T | 1.23% | 54.20%
19 | 10.7T | 1.27% | 52.55%

Established Date : 14-Aug-1990 1. CAB Holdings Limited 4,394,603,450 : 50.05%
Under Writer IPO :
PT Merincorp DIVIDEND ANNOUNCEMENT
F/I
Plaza Central Building 2nd Fl. 1994 58.00 21-Jul-95 24-Jul-95 01-Aug-95 31-Aug-95 F
Fax : (021) 252-5028 2000 18.00 11-Jul-01 12-Jul-01 17-Jul-01 31-Jul-01 F
2001 25.00 09-Jul-02 10-Jul-02 15-Jul-02 29-Jul-02 F
1. Manuel Valez Pangilinan 2003 28.00 15-Jul-04 16-Jul-04 20-Jul-04 02-Aug-04 F
2. Benny Setiawan Santoso 2005 17.50 26-Aug-05 29-Aug-05 31-Aug-05 15-Sep-05
3. Edward Anthony Tortorici 2005 5.00 20-Jul-06 21-Jul-06 25-Jul-06 08-Aug-06 F
4. Graham Leigh Pickles 2006 31.00 27-Jul-07 30-Jul-07 01-Aug-07 15-Aug-07 F
5. Hans Kartikahadi *) 2007 43.00 12-Aug-08 13-Aug-08 15-Aug-08 27-Aug-08 F
6. Robert Charles Nicholson 2008 47.00 02-Jul-09 03-Jul-09 07-Jul-09 22-Jul-09 F
7. Torstein Stephansen *) 2009 93.00 19-Jul-10 20-Jul-10 22-Jul-10 05-Aug-10 F
8. Utomo Josodirdjo *) 2010 133.00 26-Jul-11 27-Jul-11 29-Jul-11 09-Aug-11 F
*) Independent Commissioners 2011 175.00 17-Jul-12 18-Jul-12 20-Jul-12 03-Aug-12 F
2012 185.00 17-Jul-13 18-Jul-13 22-Jul-13 02-Aug-13 F
1. Anthoni Salim
2. Axton Salim ISSUED HISTORY
3. Darmawan Sarsito (Kevin Sietho) Listing Trading
4. Franciscus Welirang No. Type of Listing Shares Date Date
5. Joseph Bataona 1. First Issue 21,000,000 14-Jul-94 14-Jul-94
6. Moleonoto (Paulus Moleonoto) 2. Founders Shares 742,000,000 T: 14-Jul-94 : 08-Feb-95
7. Taufik Wiraatmadja 3. Stock Split 8,087,800,000 T: 12-Aug-96 : 29-Sep-00
8. Tjhie Tje Fie (Thomas Tjhie) 4. Right Issue 305,200,000 24-Apr-97 24-Apr-97
9. Werianty Setiawan 5. Option Conversion 287,269,500 T: 07-May-02 : 12-Jun-03
6. Option III Conversion 919,500 T: 06-Feb-04 : 24-May-04
AUDIT COMMITTEE 7. Buy Back -663,762,500 28-Oct-08 28-Oct-08
1. Hans Kartikahadi
2. Hendra Susanto
3. Timotius
CORPORATE SECRETARY
Werianty Setiawan
HEAD OFFICE
Sudirman Plaza, Indofood Tower 27th Fl.
Jakarta - 12190
Phone : (021) 5795-8822
Fax : (021) 5793-7373
Homepage : www.indofood.com
Email : werianty@indofood.co.id

TRADING ACTIVITIES
Indofood Sukses Makmur Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
8,000 160 Jan-10 3,900 3,400 3,600 19,155 416,987 1,542,974 20
Feb-10 3,950 3,375 3,800 16,258 332,640 1,220,407 19
7,000 140 Mar-10 4,225 3,700 3,775 22,401 373,683 1,463,808 22
Apr-10 3,950 3,700 3,900 26,928 468,345 1,798,803 21
May-10 3,950 3,300 3,650 33,032 644,511 2,320,315 19
6,000 120
Jun-10 4,225 3,475 4,150 22,744 514,572 1,995,277 22
Jul-10 4,725 4,100 4,625 20,043 355,861 1,561,997 22
5,000 100
Aug-10 4,850 4,100 4,550 53,114 779,462 3,398,163 21
Sep-10 5,800 4,450 5,450 40,387 668,483 3,419,349 17
4,000 80
Oct-10 5,700 4,800 5,200 50,506 689,172 3,550,603 21
Nov-10 5,200 4,525 4,575 29,814 460,205 2,269,103 21
3,000 60 Dec-10 4,975 4,425 4,875 29,244 409,963 1,881,471 20
2,000 40 Jan-11 5,100 4,300 4,700 29,796 364,749 1,725,256 21

Feb-11 4,900 4,550 4,750 15,394 180,015 853,054 18
1,000 20 Mar-11 5,450 4,750 5,400 27,762 313,582 1,581,400 23
Apr-11 5,700 5,200 5,550 17,178 212,478 1,161,362 20
May-11 5,750 5,250 5,400 18,291 270,736 1,497,017 21
Jun-11 5,850 5,150 5,750 19,672 268,060 1,463,174 20
Jul-11 6,500 5,700 6,350 22,022 267,156 1,590,534 21
Aug-11 6,800 5,850 6,100 34,598 378,704 2,396,653 19
Sep-11 6,250 4,150 5,050 51,427 588,035 3,052,287 20
Consumer Goods Industry Index Nov-11 5,250 4,600 4,700 38,862 371,421 1,822,817 22
January 2010 - July 2014 Dec-11 4,875 4,500 4,600 23,694 241,411 1,130,332 21
245%
Jan-12 4,975 4,600 4,800 25,256 255,981 1,232,987 21
210% 207.4% Feb-12 5,150 4,800 5,100 26,576 299,674 1,482,914 21
Mar-12 5,200 4,750 4,850 24,300 263,089 1,293,314 21
175% Apr-12 4,900 4,575 4,850 27,216 372,042 1,763,910 20
May-12 4,900 4,625 4,725 22,748 270,366 1,297,395 21
140% Jun-12 4,875 4,400 4,850 18,225 207,237 984,904 21
Jul-12 5,650 4,825 5,400 31,601 412,934 2,195,788 22
Aug-12 5,500 5,100 5,400 18,695 231,332 1,238,115 19
105% 97.6%
92.5% Sep-12 5,650 5,300 5,650 19,243 239,535 1,304,306 20
Oct-12 6,200 5,550 5,700 18,532 354,341 2,056,934 22
70%
Nov-12 5,900 5,500 5,850 17,512 227,499 1,300,727 20
Dec-12 6,200 5,450 5,850 24,477 236,709 1,375,205 18
35%
Jan-13 6,200 5,750 6,050 28,192 381,477 2,293,129 21

- Feb-13 7,300 5,950 7,300 28,087 302,233 1,969,793 20
Mar-13 8,000 7,100 7,450 30,888 288,028 2,147,746 19
-35% Apr-13 7,600 7,200 7,350 19,978 246,584 1,832,014 22
Jun-13 7,450 6,150 7,350 38,863 314,861 2,148,930 19
Jul-13 7,400 6,450 6,500 30,651 217,023 1,503,617 23
Days 245 247 246 244 137 Dec-13 6,850 6,250 6,600 23,609 161,902 1,067,696 19
Price (Rupiah) Jan-14 7,350 6,550 6,975 39,285 194,431 1,339,609 20

High 5,800 6,800 6,200 8,000 7,800 Feb-14 7,175 6,825 7,175 35,519 171,841 1,205,017 20
Low 3,300 4,150 4,400 5,350 6,550 Mar-14 7,800 6,900 7,300 44,656 280,916 2,058,174 20
Close 4,875 4,600 5,850 6,600 7,075 Apr-14 7,475 6,900 7,050 41,446 221,397 1,587,966 20
Close* 4,875 4,600 5,850 6,600 7,075 May-14 7,150 6,700 6,825 41,676 277,765 1,926,273 18
Jun-14 6,950 6,700 6,700 41,644 173,202 1,181,682 21
PER (X) 14.50 8.05 10.54 22.61 13.57 Jul-14 7,150 6,700 7,075 44,580 206,306 1,441,386 18
PER Industry (X) 16.41 16.22 19.75 19.15 20.27
PBV (X) 2.55 1.28 1.50 1.50 1.57

Receivables 2,686,273 3,669,305 3,485,461 4,959,416 5,558,852

5,644,141 6,536,343 7,782,594 8,160,539 10,121,783 70,000
Inventories
Current Assets 20,077,994 24,501,734 26,202,972 32,464,497 38,588,840
52,500
Fixed Assets 11,737,142 12,921,013 15,775,741 23,027,913 24,244,877
Other Assets 1,133,994 1,216,694 - 2,748,446 2,096,766
35,000
Total Assets 47,275,955 53,585,933 59,324,207 78,092,789 86,252,348
Growth (%) 13.35% 10.71% 31.64% 10.45% 17,500

Growth (%) -2.00% 14.59% 57.73% 17.41%
38,373
Paid up Capital 878,043 878,043 878,043 878,043 878,043 39,616
34,143
Par Value 100 100 100 100 100
31,535

23,453
Total Equity 16,784,671 31,610,225 34,142,674 38,373,129 39,616,398 16,785

Growth (%) 88.33% 8.01% 12.39% 3.24% 15,371
Total Revenues 38,403,360 45,332,256 50,059,427 57,731,998 34,066,065

Growth (%) 18.04% 10.43% 15.33%
-792
2010 2011 2012 2013 Jun-14
Cost of Revenues 25,932,908 32,749,190 36,493,332 43,402,144 24,704,688

Gross Profit 12,470,452 12,583,066 13,566,095 14,329,854 9,361,377
Expenses (Income) 5,741,141 5,732,047 -6,695,501 7,611,873 4,970,291
Growth (%) 1.81% 0.29% -2.22%

57,732
50,059
45,332
45,955
38,403
Other Income (Expenses) -1,296,936 -498,630 -560,838 -2,051,023 -391,230
34,066
Tax 1,497,567 1,460,716 -1,530,310 1,252,072 1,014,457

Growth (%) 24.32% -2.29% -28.51%

10,623
Current Ratio (%) 203.65 190.95 200.32 166.73 163.52
4,892 4,779
Dividend (Rp) 133.00 175.00 185.00 142.00 - 4,892
EPS (Rp) 336.30 350.46 371.41 285.16 260.72 3,935

BV (Rp) 1,911.60 3,600.08 3,888.50 4,370.30 4,511.90 3,894
3,417
2,985
DAR (X) 0.47 0.41 0.42 0.51 0.54
1.34 0.70 0.74 1.04 1.18
2,896
DER(X)
ROA (%) 8.32 9.13 8.06 4.38 3.46 1,898
ROE (%) 23.44 15.47 14.00 8.90 7.54

GPM (%) 32.47 27.76 27.10 24.82 27.48 900
OPM (%) 17.52 15.11 13.72 11.64 12.89

NPM (%) 10.25 10.79 9.55 5.92 8.76
-98
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 39.55 49.93 49.81 49.80 -
Yield (%) 2.73 3.80 3.16 2.15 -

CC O
OMM PP AA N
N YY RR EE PP O
O RR TT
INTP
INDOCEMENT TUNGGAL PRAKARSA TBK.
Company Profile
PT Indocement Tunggal Prakarsa Tbk. was incorporated on January 16th, 1985. The
The scope of its activities comprises, among others, cement and building materials
manufacturing, mining, construction and trading. Currently, the Company and Subsidiaries
are involved in several businesses consisting of the manufacture and sale of cement (as
core business) and ready mix concrete, aggregates and trass quarrying.
The Company’s head office is located in Jakarta while the factories are located in Citeureup
- West Java, Palimanan - West Java, and Tarjun - South Kalimantan.
The cement business includes the operations of the Company’s twelve (12) plants located
in three different sites: nine at the Citeureup - Bogor site, two at the Palimanan - Cirebon
site and one at the Tarjun - South Kalimantan site. The manufacture of ready-mix concrete,
cement distribution, and aggregates quarrying comprise the operations of most of the
Company’s Subsidiaries.
The Company has direct ownership in subsidiaries:

• PT Dian Abadi Perkasa, • PT Lentera Abadi Sejahtera,
• PT Indomix Perkasa, • PT Gunung Tua Mandiri, and
• PT Sari Bhakti Sejati, • Indocement (Cayman Islands) Limited.
• PT Makmur Abadi Perkasa Mandiri,
The Company also has indirect ownership in subsidiaries:

• PT Pionirbeton Industri, • PT Sahabat Mulia Sakti,
• PT Mandiri Sejahtera Sentra, • PT Mineral Industri Sukabumi,
• PT Bahana Indonor, • PT Multi Bangun Galaxy, and
• PT Tarabatuh Manunggal, • PT Bhakti Sari Perkasa Abadi.
• PT Terang Prakasa Cipta,
As of June 30th, 2014, the Group had a total of 7,385 permanent employees.
August 2014
Disclaimer:

INTP Indocement Tunggal Prakarsa Tbk. [S]
Industry Sub Sector : Cement (31) Market Capitalization : 91,846,730,890,050
12 | 91.8T | 1.82% | 48.40%
14 | 11.9T | 1.41% | 45.89%

Established Date : 16-Jan-1985 1. PT Mekar Perkasa 479,735,234 : 13.03%
Listing Date : 05-Dec-1989 2. Birchwood Omnia Limited 1,877,480,863 : 51.00%
PT (Persero) Danareksa
PT Merchant Investment Corporation DIVIDEND ANNOUNCEMENT
PT Multicor Bonus Cash Recording Payment
F/I
Bank Pembangunan Indonesia Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1991 150.00 13-Feb-91 14-Feb-91 21-Feb-91 15-Mar-91 I
PT Raya Saham Registra 1991 175.00 27-May-92 29-May-92 05-Jun-92 18-Jun-92 F
Plaza Central Building 2nd Fl. 1992 250.00 01-Jul-93 02-Jul-93 09-Jul-93 10-Aug-93 F
Phone : (021) 252-5666 1993 1:1 12-Aug-94 15-Aug-94 23-Aug-94 23-Sep-94 B
1995 40.00 23-Aug-95 24-Aug-95 01-Sep-95 29-Sep-95 I
1. Albert Scheuer 1996 70.00 11-Jul-97 14-Jul-97 23-Jul-97 21-Aug-97 F
2. Bernhard Scheifele 1996 10:3 08-Sep-97 09-Sep-97 17-Sep-97 30-Sep-97 B
3. Daniel Hugues Jules Gauthier 2005 50.00 19-Jul-06 20-Jul-06 24-Jul-06 07-Aug-06 F
4. I Nyoman Tjager *) 2006 30.00 27-Jun-07 28-Jun-07 02-Jul-07 16-Jul-07 I
5. Lorenz Naeger 2007 40.00 05-Jun-08 06-Jun-08 10-Jun-08 24-Jun-08 F
6. Muhammad Jusuf Hamka *) 2008 150.00 02-Jun-09 03-Jun-09 05-Jun-09 19-Jun-09 F
7. Tedy Djuhar *) 2009 225.00 21-Jun-10 22-Jun-10 24-Jun-10 07-Jul-10 F
2011 293.00 18-Jun-12 19-Jun-12 21-Jun-12 05-Jul-12 F
BOARD OF DIRECTORS 2012 450.00 20-Jun-13 21-Jun-13 25-Jun-13 09-Jul-13 F
1. Christian Kartawijaya 2013 900.00 19-Jun-14 20-Jun-14 24-Jun-14 08-Jul-14 F
2. Benny Setiawan Santoso
3. Daniel Robert Fritz ISSUED HISTORY
4. Daniel Kundjono Adam Listing Trading
5. Fransiscus Welirang No. Type of Listing Shares Date Date
6. Hasan Imer 1. First Issue 89,832,150 05-Dec-89 05-Dec-89
7. Kuky Permana Kumalaputra 2. Koperasi 6,000,000 T: 26-Jun-92 : 31-Dec-99
8. Ramakanta Bhattacharjee 3. Founders Shares 946,119 T: 07-Mar-94 : 02-Sep-94
9. Tju Lie Sukanto 4. Convertible Bonds 8,555,640 T: 07-Mar-94 : 10-Nov-94
5. Bonus Shares 599,790,020 T: 12-Sep-94 : 26-Sep-94
AUDIT COMMITTEE 6. Company Listing 502,102,731 12-Sep-94 12-Sep-94
1. I Nyoman Tjager 7. Stock Split 1,207,226,660 02-Sep-96 02-Sep-96
2. Jusuf Halim 8. Additional Listing 69,863,127 09-Jan-01 09-Jan-01
3. Lindawati Gani 9. Right Issue 1,196,907,072 24-Apr-01 24-Apr-01
10. Warrant 8,180 12-May-03 12-May-03
CORPORATE SECRETARY
Sahat Panggabean
HEAD OFFICE
Wisma Indocement 8th Fl.
Jakarta
Phone : (021) 251-0057, 570-3817
Fax : (021) 570-1693, 251-0066
Homepage : www.indocement.com
Email : corpsec@indocement.co.id
sahat.panggabean@indocement.co.id

TRADING ACTIVITIES
Indocement Tunggal Prakarsa Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
28,000 80.0 Jan-10 14,950 12,600 13,500 15,445 114,570 1,582,001 20
Feb-10 14,050 12,600 13,700 12,523 72,569 963,355 19
24,500 70.0 Mar-10 14,600 13,200 14,250 11,854 83,422 1,166,358 22
Apr-10 16,100 14,100 15,800 14,945 101,764 1,522,935 21
May-10 16,550 13,500 15,000 16,721 101,361 1,519,641 19
21,000 60.0
Jun-10 16,800 14,800 15,800 10,872 59,637 937,672 22
Jul-10 17,100 15,500 16,900 8,802 43,398 713,606 22
17,500 50.0
Aug-10 18,850 15,900 17,650 12,361 60,776 1,032,293 21
Sep-10 19,400 17,650 18,400 12,038 64,454 1,208,378 17
14,000 40.0
Oct-10 19,400 17,800 18,300 15,544 87,480 1,611,578 21
Nov-10 18,300 16,250 16,600 20,425 107,151 1,849,201 21
10,500 30.0 Dec-10 17,100 15,500 15,950 23,282 173,300 2,808,059 20
7,000 20.0 Jan-11 16,900 12,750 13,550 24,440 140,024 2,055,974 21

Feb-11 15,700 13,600 14,400 16,456 98,775 1,441,396 18
3,500 10.0 Mar-11 16,400 14,100 16,350 19,235 103,373 1,547,505 23
Apr-11 17,900 15,800 17,000 15,317 63,289 1,066,959 20
May-11 17,400 16,300 16,900 15,815 64,838 1,094,051 21
Jun-11 17,550 16,350 17,050 13,168 40,686 688,640 20
Jul-11 17,500 15,300 15,450 16,979 94,842 1,546,604 21
Aug-11 15,700 13,400 15,200 23,463 115,063 1,689,999 19
Sep-11 15,950 10,700 14,000 24,770 95,452 1,334,694 20
Basic Industry and Chemicals Index Nov-11 16,250 14,400 15,000 18,484 60,468 925,715 22
January 2010 - July 2014 Dec-11 17,300 15,000 17,050 16,717 100,145 1,624,891 21
140%
Jan-12 19,050 16,600 16,950 22,398 87,292 1,556,604 21
120% Feb-12 17,900 16,300 17,450 23,502 88,498 1,514,992 21
Mar-12 18,800 17,000 18,450 18,385 72,028 1,307,071 21
100% 100.5% Apr-12 18,800 17,850 18,050 13,941 70,686 1,294,326 20
97.6% May-12 18,900 16,800 17,800 17,881 68,984 1,223,049 21
80% 80.1% Jun-12 17,600 15,800 17,350 16,882 71,934 1,226,581 21
Jul-12 22,000 17,400 21,500 18,249 87,400 1,660,463 22
Aug-12 21,500 19,200 20,250 17,525 52,402 1,067,337 19
60%
Sep-12 20,650 19,550 20,350 18,025 54,846 1,105,406 20
Oct-12 22,300 19,950 21,400 16,613 71,139 1,504,225 22
40%
Nov-12 23,250 21,150 23,250 16,524 59,652 1,332,810 20
Dec-12 23,250 21,800 22,450 16,591 56,310 1,270,025 18
20%
Jan-13 22,600 21,250 21,750 23,664 71,422 1,550,241 21

- Feb-13 22,150 21,350 21,950 16,173 69,389 1,501,495 20
Mar-13 23,550 21,850 23,300 23,869 94,226 2,139,138 19
-20% Apr-13 26,450 22,750 26,400 22,551 75,064 1,827,956 22
Jun-13 24,550 20,450 24,450 39,750 137,049 3,109,151 19
Jul-13 24,400 20,600 20,850 26,673 72,376 1,592,849 23
Volume (Million Sh.) 1,070 1,060 841 955 513 Sep-13 21,900 18,000 18,000 32,816 92,486 1,815,659 21
Days 245 247 246 244 137 Dec-13 20,200 18,300 20,000 20,099 57,378 1,099,328 19
Price (Rupiah) Jan-14 22,500 19,825 22,400 42,897 63,573 1,340,256 20

High 19,400 17,900 23,250 27,400 27,500 Feb-14 22,850 20,800 22,450 36,786 53,504 1,170,267 20
Low 12,600 10,700 15,800 16,500 19,825 Mar-14 27,300 21,550 23,375 50,809 82,794 1,947,053 20
Close 15,950 17,050 22,450 20,000 24,950 Apr-14 25,125 21,675 21,950 53,758 103,849 2,419,573 20
Close* 15,950 17,050 22,450 20,000 24,950 May-14 24,450 21,175 22,650 38,535 64,887 1,481,991 18
Jun-14 25,025 22,350 22,550 36,440 59,436 1,405,231 21
PER (X) 18.21 17.43 17.35 15.30 18.30 Jul-14 27,500 22,425 24,950 47,705 84,985 2,170,522 18
PER Industry (X) 12.86 10.41 9.79 17.44 11.72
PBV (X) 4.49 3.99 4.26 3.41 4.15

Receivables 1,402,690 1,976,769 2,454,818 2,518,588 2,385,034

1,299,549 1,327,720 1,470,305 1,473,645 1,707,319 24,000
Inventories
Current Assets 7,484,807 10,314,573 14,579,400 16,846,248 18,462,893
18,000
Fixed Assets 7,702,769 7,638,064 7,935,224 9,304,992 9,659,928
Other Assets 100,319 128,546 141,371 324,750 456,672
12,000
Total Assets 15,346,146 18,151,331 22,755,160 26,607,241 28,781,378
Growth (%) 18.28% 25.36% 16.93% 8.17% 6,000

Growth (%) 7.65% 38.02% 8.79% 83.32%
22,128
Paid up Capital 1,840,616 1,840,616 1,840,616 1,840,616 1,840,616 22,978
19,419
Par Value 500 500 500 500 500 15,734
18,290

13,603
Total Equity 13,077,390 15,733,951 19,418,738 22,977,687 22,127,527

Growth (%) 20.31% 23.42% 18.33% -3.70% 8,915
Total Revenues 11,137,805 13,887,892 17,290,337 18,691,286 9,498,594

Growth (%) 24.69% 24.50% 8.10%
-460
2010 2011 2012 2013 Jun-14
Cost of Revenues 5,597,043 7,473,669 9,020,338 10,036,632 5,294,846

Gross Profit 5,540,762 6,414,223 8,269,999 8,654,654 4,203,748
Expenses (Income) 1,520,732 1,996,200 2,393,257 2,590,554 1,436,366
17,290
Growth (%) 9.90% 33.02% 3.19%
18,691
14,878
13,888
Other Income (Expenses) 221,812 290,133 362,808 531,054 443,273 11,138
9,499
Tax 1,023,795 1,106,640 1,476,162 1,582,860 697,581
Growth (%) 11.69% 32.26% 5.23%

3,439
Current Ratio (%) 555.37 698.54 602.76 614.81 318.50
5,012
Dividend (Rp) 263.00 293.00 450.00 900.00 - 4,763
EPS (Rp) 876.05 977.10 1,293.15 1,361.02 681.82

3,552.45 4,274.10 5,275.07 6,241.85 6,010.90 3,602
BV (Rp)
3,990
3,225
DAR (X) 0.15 0.13 0.15 0.14 0.23
2,513
0.17 0.15 0.17 0.16 0.30
2,967
DER(X)
ROA (%) 21.01 19.84 20.93 18.84 8.73 1,945
ROE (%) 24.66 22.89 24.53 21.81 11.36

GPM (%) 49.75 46.19 47.83 46.30 44.26 922
OPM (%) 36.09 31.81 33.99 32.44 29.13

NPM (%) 28.95 25.93 27.55 26.82 26.46
-100
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 30.02 29.99 34.80 66.13 -
Yield (%) 1.65 1.72 2.00 4.50 -

COMPANY REPORT
ITMG
INDO TAMBANGRAYA MEGAH TBK.
Company Profile
Established in 1987, PT Indo Tambangraya Megah Tbk. is a renowned Indonesian coal

supplier for the world energy market. The company strives to set the highest standard in
corporate governance as well as environmental, health and work safety compliance. All
activities are carried out in close cooperation with the local societies and other
stakeholders. Since its establishment, the Company has been recognized as a leading
producer of coal and has built a diversified customer base.
The Company has direct and indirect ownership in the following subsidiaries:
• PT Indominco Mandiri,
• PT Trubaindo Coal Mining,
• PT Jorong Barutama Greston,
• PT Kitadin,
• PT Bharinto Ekatama,
• PT ITM Indonesia, and
• PT Tambang Raya Usaha Tama.
The main activities of the Company are mining by investing in subsidiaries, and marketing
services to related companies. Its subsidiaries are involved in the coal mining industry. The
Company’s office is located in Jakarta.
The Company’s ultimate parent entity is Banpu Public Company Limited, a company
incorporated in the Kingdom of Thailand.
August 2014
Disclaimer:

ITMG Indo Tambangraya Megah Tbk. [S]
30 | 29.5T | 0.58% | 65.80%
48 | 5.13T | 0.61% | 77.49%

Established Date : 02-Sep-1987 1. Banpu Minerals (Singapore) Private Limited 734,452,000 : 65.00%
Listing Date : 18-Dec-2007 2. Public (<5%) 395,473,000 : 35.00%
Under Writer IPO :
PT UBS Securities Indonesia DIVIDEND ANNOUNCEMENT
F/I
Puri Datindo - Wisma Sudirman 2007 155.00 06-May-08 07-May-08 09-May-08 23-May-08 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2008 344.00 08-Oct-08 09-Oct-08 13-Oct-08 22-Nov-08 I
Phone : (021) 570-9009 2008 295.00 01-Dec-08 02-Dec-08 04-Dec-08 19-Dec-08 I
Fax : (021) 570-9026 2008 706.00 11-May-09 12-May-09 14-May-09 28-May-09 F
2009 678.00 20-Oct-09 21-Oct-09 23-Oct-09 01-Nov-09 I
BOARD OF COMMISSIONERS 2009 1,286.00 29-Apr-10 30-Apr-10 04-May-10 19-May-10 F
1. Ibrahim Yusuf *) 2010 795.00 28-Sep-10 29-Sep-10 01-Oct-10 15-Oct-10 I
2. Djisman S. Simandjuntak *) 2010 407.00 19-Apr-11 20-Apr-11 25-Apr-11 06-May-11 F
3. Lukmanul Hakim 2011 1,168.00 28-Sep-11 29-Sep-11 03-Oct-11 14-Oct-11 I
4. Rudijanto Boentoro 2012 1,666.00 29-Oct-12 30-Oct-12 01-Nov-12 14-Nov-12 F
5. Somruedee Chaimongkol 2012 1,464.00 26-Apr-13 29-Apr-13 01-May-13 15-May-13 F
6. Somyot Ruchirawat 2013 1,014.00 29-Oct-13 30-Oct-13 01-Nov-13 15-Nov-13 I
*) Independent Commissioners 2013 975.00 28-Apr-14 29-Apr-14 02-May-14 14-May-14 F
BOARD OF DIRECTORS ISSUED HISTORY

1. Pongsak Thongampai Listing Trading
2. A.H. Bramantya Putra No. Type of Listing Shares Date Date
3. Edward Manurung (Independent) 1. First Issue 225,985,000 18-Dec-07 18-Dec-07
4. Hartono Widjaja 2. Company Listing 903,940,000 18-Dec-07 18-Aug-08
5. Leksono Poeranto
6. Sean Trehane Pellow
AUDIT COMMITTEE
1. Ibrahim Yusuf
2. Rudi Riady
3. Sidharta Utama
CORPORATE SECRETARY
Roslini Onwardi
HEAD OFFICE
Pondok Indah Office Tower III, 3rd Fl.
Jln. Sultan Iskandar Muda, Pondok Indah Kav. V-TA
Jakarta Selatan - 12310
Phone : (021) 293-28100
Fax : (021) 293-27999
Homepage : www.itmg.co.id
Email : roslini_o@banpuindo.co.id

TRADING ACTIVITIES
Indo Tambangraya Megah Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
58,000 160 Jan-10 34,500 30,150 31,400 17,037 51,045 1,659,622 20
Feb-10 32,300 28,100 31,600 22,456 53,092 1,612,335 19
50,750 140 Mar-10 39,750 31,500 38,050 13,813 37,458 1,317,729 22
Apr-10 40,600 37,500 39,050 11,229 24,097 936,776 21
May-10 39,300 29,850 36,000 16,618 43,988 1,536,731 19
43,500 120
Jun-10 39,450 33,200 37,150 9,357 18,299 667,453 22
Jul-10 39,200 36,750 37,500 7,059 13,700 522,901 22
36,250 100
Aug-10 41,000 37,500 39,200 6,941 16,121 632,650 21
Sep-10 41,750 36,550 41,600 17,772 161,965 6,015,653 17
29,000 80
Oct-10 50,100 40,900 45,200 11,635 29,006 1,304,371 21
Nov-10 55,300 45,200 49,050 15,731 38,063 1,896,326 21
21,750 60 Dec-10 53,000 46,000 50,750 19,033 42,305 2,105,659 20
14,500 40 Jan-11 57,950 43,700 46,300 29,196 64,211 3,267,046 21

Feb-11 48,650 43,650 45,700 22,560 40,535 1,874,932 18
7,250 20 Mar-11 51,400 39,900 46,200 49,551 90,260 4,107,414 23
Apr-11 50,250 46,650 46,800 24,415 41,472 1,992,811 20
May-11 48,000 44,400 47,000 22,941 46,175 2,148,862 21
Jun-11 47,500 44,000 44,750 11,842 21,509 989,239 20
Jul-11 52,000 44,500 50,500 22,708 52,561 2,535,598 21
Aug-11 51,350 40,000 43,150 21,131 42,572 1,939,362 19
Sep-11 47,000 37,500 39,250 23,568 38,180 1,631,637 20
Mining Index Nov-11 45,000 36,250 38,150 19,148 27,770 1,146,861 22
January 2010 - July 2014 Dec-11 40,450 34,950 38,650 18,594 30,704 1,170,734 21
125%
Jan-12 41,000 36,200 36,700 21,105 41,555 1,611,844 21
100% 97.6% Feb-12 44,800 36,650 43,350 25,856 50,179 2,056,492 21
Mar-12 44,000 41,050 43,450 18,679 30,981 1,312,739 21
75% Apr-12 45,800 39,700 39,750 26,935 57,988 2,460,047 20
May-12 40,000 33,750 33,800 22,768 42,236 1,542,196 21
50% Jun-12 37,700 30,150 35,950 19,026 37,526 1,306,401 21
Jul-12 38,400 34,600 35,550 14,604 26,101 971,835 22
Aug-12 38,500 35,600 38,200 10,062 19,174 713,606 19
25%
Sep-12 42,400 37,750 42,150 13,955 25,798 1,045,896 20
Oct-12 43,350 40,000 40,650 11,566 19,511 819,058 22
-
Nov-12 42,450 38,350 39,250 11,122 16,938 690,628 20
-18.4% Dec-12 42,350 38,100 41,550 10,232 17,955 725,896 18
-25%
-33.0%
Jan-13 42,900 39,800 41,450 12,584 21,012 874,302 21
-50% Feb-13 41,350 39,550 40,250 9,584 14,731 596,005 20
Mar-13 40,750 33,250 35,500 18,901 28,118 1,045,558 19
-75% Apr-13 39,500 35,100 36,750 20,303 29,630 1,117,437 22
Jun-13 30,100 24,600 28,150 19,971 27,387 727,852 19
Jul-13 28,650 24,200 24,200 11,967 21,869 580,370 23
Volume (Million Sh.) 529 532 386 306 197 Sep-13 32,950 25,350 26,300 15,702 22,893 691,567 21
Days 245 247 246 244 137 Dec-13 30,600 27,150 28,500 13,207 17,645 509,479 19
Price (Rupiah) Jan-14 28,700 24,850 26,800 40,294 30,444 792,755 20

High 55,300 57,950 45,800 42,900 30,250 Feb-14 28,550 25,100 26,000 34,416 23,323 622,390 20
Low 28,100 34,300 30,150 24,200 22,350 Mar-14 26,150 22,350 24,350 41,387 38,547 941,922 20
Close 50,750 38,650 41,550 28,500 26,150 Apr-14 26,725 23,950 25,475 37,248 41,019 1,032,303 20
Close* 50,750 38,650 41,550 28,500 26,150 May-14 30,250 24,875 28,650 30,442 26,577 724,102 18
Jun-14 30,100 26,500 27,000 25,672 15,751 444,016 21
PER (X) 31.29 8.74 11.38 11.28 5.36 Jul-14 27,600 24,850 26,150 35,242 21,517 568,758 18
PER Industry (X) 17.69 16.17 8.49 19.30 4.45
PBV (X) 8.86 4.46 4.84 2.73 2.56

Receivables 1,359,610 2,321,598 2,439,567 2,383,251 2,122,154

633,245 970,013 1,459,919 1,483,112 1,584,588 14,000
Inventories
Current Assets 5,459,998 9,670,360 9,369,534 9,157,445 7,412,318
10,500
Fixed Assets 3,126,948 3,122,629 3,244,382 3,884,351 3,610,174
Other Assets 20,174 13,031 20,626 133,277 153,993
7,000
Total Assets 9,783,380 14,313,602 14,420,136 17,081,558 16,290,467
Growth (%) 46.31% 0.74% 18.46% -4.63% 3,500

Growth (%) 36.34% 4.74% 11.18% -6.40%
11,372
Paid up Capital 564,963 564,963 564,963 1,500,000 1,500,000 11,827
1,130 1,130 1,130 3,000 3,000 9,801 9,693

Paid up Capital (Shares)
Par Value 500 500 500 500 500
9,414

7,001
Total Equity 6,473,353 9,800,731 9,693,372 11,826,501 11,371,902

Growth (%) 51.40% -1.10% 22.01% -3.84% 4,589
Total Revenues 14,977,028 21,598,843 23,584,559 26,733,422 11,552,790

Growth (%) 44.21% 9.19% 13.35%
-237
2010 2011 2012 2013 Jun-14
Cost of Revenues 10,114,588 13,509,570 16,417,475 20,485,612 8,880,555

Gross Profit 4,862,440 8,089,273 7,167,085 6,247,810 2,672,235
Expenses (Income) 1,604,252 1,678,967 1,451,061 2,309,778 302,433
26,733
Growth (%) 96.74% N/A 23,585

21,599
21,280
Other Income (Expenses) -768,104 208,773 - - -

14,977
11,553
Tax 657,217 1,666,807 1,538,168 1,109,993 598,139
10,373
Growth (%) 170.19% -15.64% -32.31%

4,919
Current Ratio (%) 183.44 236.59 221.71 199.19 178.44
4,952
Dividend (Rp) 1,202.00 1,168.00 3,130.00 1,989.00 - 4,952
4,178
EPS (Rp) 1,622.11 4,382.83 3,697.46 942.68 590.55
BV (Rp) 5,729.01 8,673.79 8,578.78 3,942.17 3,790.63 3,942
DAR (X) 0.34 0.32 0.33 0.31 0.30 2,828

2,932
DER(X) 0.51 0.46 0.49 0.44 0.43

18.73 34.60 28.97 16.56 10.88 1,833 1,772
ROA (%) 1,921
ROE (%) 28.31 50.53 43.10 23.91 15.58

GPM (%) 32.47 37.45 30.39 23.37 23.13 911
OPM (%) 21.75 29.68 - - -

NPM (%) 12.24 22.93 17.71 10.58 15.34
-99
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 74.10 26.65 84.65 210.99 -
Yield (%) 2.37 3.02 7.53 6.98 -

C
COOM
M PP A
ANN YY RR EE PP O
O RR TT
JSMR
JASA MARGA (PERSERO) TBK.
Company Profile
Jasa Marga is a state owned company with the line business of planning, constructing,
operating and maintaining toll roads along with developing and maximizing the use of land
in toll road areas and other related businesses. Jasa Marga’s business caracteristics are
defensive and resistant to fluctuated condition of global economy.
Adding new toll road concessions is Jasa Marga’s main strategic plan. Currently, Jasa Marga
has added 9 new toll road concessions with the total length of 211 km, through its
subsidiaries, in which Jasa Marga is the major shareholder. This will maintain Jasa Marga’s
position as the market leader in toll road industry in Indonesia, where currently the
Company owns 576 km or 73% of the market share in terms of the toll road length and 83%
of the country’s toll roads average daily traffic.
The Company’s target to add its operating toll roads in 2013 was successfully achieved with
the operation of two toll road sections, i.e. Nusa Dua-Ngurah Rai-Benoa (Bali Mandara) Toll
Road and JORR W2 North Section Kebon Jeruk-Ciledug to prove the commitment of the
Company to constantly adding its operating toll roads and maintaining its position to keep
dominating the market share of toll roads in Indonesia. In the first semester of 2014, the
Company has successfully operate three additional toll road sections: Bogor Outer Ring
Road Toll Road Section Kedung Halang-Kedung Badak, Semarang-Solo Toll Road Section
Ungaran-Bawen, and JORR W2 North Toll Road Section Ciledug-Ulujami. Particularly in the
second semester 2014, the Company will operate two additional toll road sections:
Gempol-Pandaan Toll Road, Gempol-Pasuruan Toll Road Section Gempol-Rembang.
Going forward, the Company’s business prospect will be robust as it is supported by new
concessions with sound financial feasibility that is integrated with existing concession
portfolio, strong and trusted financial structure, as well as assets utilization in prospective
businesses, which, in turn will support the Company’s sustainable growth.
August 2014
Disclaimer:

JSMR Jasa Marga (Persero) Tbk. [S]
Industry Sub Sector : Toll Road, Airport, Harbor And Allied Products (72) Market Capitalization : 43,690,000,000,000
20 | 43.7T | 0.86% | 58.29%
34 | 7.05T | 0.83% | 67.60%

Established Date : 01-Mar-1978 1. Negara Republik Indonesia 4,760,000,000 : 70.00%
Under Writer IPO :
F/I
PT Mandiri Sekuritas Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 2007 14.31 21-May-08 22-May-08 26-May-08 29-May-08 F
PT Datindo Entrycom 2008 52.00 18-Jun-09 19-Jun-09 23-Jun-09 07-Jul-09 F
Puri Datindo - Wisma Sudirman 2009 87.91 28-Jun-10 29-Jun-10 01-Jul-10 15-Jul-10 F
Fax : (021) 570-9026 2012 94.24 29-May-13 30-May-13 03-Jun-13 18-Jun-13 F
2013 78.61 04-Apr-14 07-Apr-14 10-Apr-14 23-Apr-14 F
1. Agoes Widjanarko
2. Akhmad Syakhroza ISSUED HISTORY
3. Boediarso Teguh Widodo Listing Trading
4. Ibnu Purna Muchtar No. Type of Listing Shares Date Date
5. Michael Dendron Primanto *) 1. First Issue 2,040,000,000 12-Nov-07 12-Nov-07
6. Samsoedin *) 2. Negara RI (Seri A) 1 12-Nov-07 12-Nov-07
*) Independent Commissioners 3. Company Listing 4,759,999,999 12-Nov-07 10-May-08
BOARD OF DIRECTORS
1. Adityawarman
2. Abdul Hadi
3. Hasanudin
4. Muh Najib Fauzan
5. Reynaldi Hermansjah
AUDIT COMMITTEE
1. Michael Dendron Primanto
2. Agita Widjajanto
3. Rustam Wahyudi
CORPORATE SECRETARY
David Wijayatno
HEAD OFFICE
Plaza Tol Taman Mini Indonesia Indah
Jakarta - 13550
Phone : (021) 841-3630
Fax : (021) 840-1533, 841-3540
Homepage : www.jasamarga.com
Email : sekper@jasamarga.co.id
jasmar@jasamarga.com

TRADING ACTIVITIES
Jasa Marga (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
7,000 160 Jan-10 1,900 1,770 1,800 7,773 151,173 277,498 20
Feb-10 1,800 1,660 1,780 4,287 50,755 88,599 19
6,125 140 Mar-10 1,840 1,730 1,790 7,732 156,449 279,869 22
Apr-10 2,150 1,780 2,075 24,979 720,011 1,426,713 21
May-10 2,075 1,750 1,970 10,682 217,164 421,065 19
5,250 120
Jun-10 2,200 1,900 2,025 11,022 211,349 435,942 22
Jul-10 2,725 2,000 2,675 12,444 284,982 664,587 22
4,375 100
Aug-10 3,025 2,525 2,925 9,876 177,397 491,645 21
Sep-10 3,375 2,900 3,200 9,894 176,359 523,935 17
3,500 80
Oct-10 3,900 3,175 3,750 10,770 193,517 677,678 21
Nov-10 3,775 3,350 3,475 14,041 270,049 954,411 21
2,625 60 Dec-10 3,600 3,150 3,425 9,386 144,135 488,862 20
1,750 40 Jan-11 3,575 2,925 3,000 12,779 197,010 636,186 21

Feb-11 3,200 2,950 3,175 6,832 104,194 320,670 18
875 20 Mar-11 3,425 3,150 3,400 13,551 195,067 642,378 23
Apr-11 3,525 3,250 3,300 13,158 174,537 587,008 20
May-11 3,525 3,275 3,475 9,957 193,346 663,699 21
Jun-11 3,650 3,325 3,625 7,995 175,397 603,870 20
Jul-11 4,000 3,550 3,975 11,849 191,975 722,040 21
Aug-11 4,175 3,625 4,000 11,334 229,033 896,266 19
Sep-11 4,275 3,400 3,975 16,354 225,381 885,369 20
Infrastructure, Utilities and Transportation Index Nov-11 4,000 3,675 3,875 8,082 85,380 330,751 22
January 2010 - July 2014 Dec-11 4,275 3,750 4,200 11,878 228,156 917,847 21
280%
Jan-12 4,575 4,125 4,375 12,368 230,785 993,508 21
240% 247.3%
Feb-12 4,775 4,325 4,700 12,003 265,300 1,209,137 21
Mar-12 5,150 4,625 5,150 14,902 168,517 813,781 21
200% Apr-12 5,700 4,875 5,350 19,314 230,817 1,196,346 20
May-12 5,550 4,925 5,150 23,617 448,775 2,326,901 21
160% Jun-12 5,450 4,975 5,400 14,761 232,464 1,199,371 21
Jul-12 5,950 5,300 5,700 14,029 167,905 944,446 22
Aug-12 6,000 5,550 5,750 12,949 157,924 899,890 19
120%
Sep-12 5,850 5,650 5,850 10,923 131,027 753,148 20
97.6% Oct-12 5,950 5,650 5,800 12,435 173,137 999,567 22
80%
Nov-12 5,850 5,650 5,700 9,709 152,420 876,690 20
54.9% Dec-12 5,850 5,450 5,450 9,539 159,861 908,441 18
40%
Jan-13 5,700 5,100 5,500 17,310 287,693 1,560,093 21

- Feb-13 5,650 5,400 5,550 13,401 204,434 1,133,501 20
Mar-13 5,950 5,600 5,950 15,101 195,334 1,128,937 19
-40% Apr-13 6,750 5,900 6,700 14,419 221,969 1,418,115 22
Jun-13 6,800 5,700 6,050 25,472 256,837 1,596,449 19
Jul-13 6,400 5,200 5,350 20,579 159,785 952,854 23
Days 245 247 246 244 137 Dec-13 5,350 4,525 4,725 18,175 149,099 732,436 19
Price (Rupiah) Jan-14 5,450 4,400 5,175 32,974 182,407 906,070 20

High 3,900 4,275 6,000 6,950 6,500 Feb-14 5,525 4,975 5,375 30,448 196,866 1,037,649 20
Low 1,660 2,925 4,125 4,525 4,400 Mar-14 6,025 4,750 6,000 31,058 234,470 1,337,548 20
Close 3,425 4,200 5,450 4,725 6,425 Apr-14 6,175 5,700 5,900 31,308 206,360 1,240,359 20
Close* 3,425 4,200 5,450 4,725 6,425 May-14 6,175 5,850 5,875 21,239 110,940 669,436 18
Jun-14 6,050 5,800 5,975 22,644 90,733 540,393 21
PER (X) 19.51 21.61 24.12 23.55 26.92 Jul-14 6,500 5,925 6,425 30,588 211,439 1,322,874 18
PER Industry (X) 14.36 11.09 17.53 18.40 13.96
PBV (X) 3.01 3.09 3.79 3.09 3.94

Receivables 23,630 87,994 64,092 177,198 245,650

- - - - - 24,000
Inventories
Current Assets 4,090,141 3,996,741 4,531,117 3,746,345 3,804,567
18,000
Fixed Assets 13,694,508 15,945,902 422,507 593,028 599,006
Other Assets 259,058 440,239 289,155 130,965 171,889
12,000
Total Assets 18,952,129 21,432,134 24,753,551 28,366,345 29,873,799
Growth (%) 13.09% 15.50% 14.60% 5.31% 6,000

Growth (%) 15.10% 22.75% 16.93% 7.27%
10,867
Paid up Capital 3,400,000 3,400,000 3,400,000 3,400,000 3,400,000 11,102
9,788
9,240
Par Value 500 500 500 500 500
8,837
7,740

6,572
Total Equity 7,740,014 9,240,280 9,787,786 10,866,980 11,101,772

Growth (%) 19.38% 5.93% 11.03% 2.16% 4,307
Total Revenues 4,378,584 4,960,473 9,070,219 10,294,668 4,485,629

Growth (%) 13.29% 82.85% 13.50%
-222
2010 2011 2012 2013 Jun-14
Cost of Revenues 2,390,392 2,679,084 6,094,983 7,631,490 2,899,958

Gross Profit 1,988,192 2,281,388 2,975,236 2,663,177 1,585,671
Expenses (Income) 2,390,392 2,679,084 6,094,983 - -
10,295
Growth (%) 14.75% 30.41% -10.49% 9,070
8,195

4,960
4,379 4,486
Tax 291,854 407,651 519,445 476,835 284,872
Profit for the period 1,184,496 1,318,824 1,535,812 1,237,821 740,718
3,994
Growth (%) 11.34% 16.45% -19.40%

1,894
Comprehensive Income 1,186,036 1,321,582 1,536,346 1,236,627 740,935 2010 2011 2012 2013 Jun-14
Current Ratio (%) 165.04 106.05 68.16 76.15 75.04
1,536
Dividend (Rp) 105.69 78.88 94.24 78.61 -
1,319
EPS (Rp) 175.51 196.98 235.60 196.52 119.35 1,184
1,238
BV (Rp) 1,138.24 1,358.86 1,439.38 1,598.09 1,632.61 1,223
DAR (X) 0.56 0.57 0.60 0.62 0.63

741
909
DER(X) 1.37 1.32 1.53 1.61 1.69

ROA (%) 6.25 6.15 6.20 4.36 2.48 596
ROE (%) 15.30 14.27 15.69 11.39 6.67

GPM (%) 45.41 45.99 32.80 25.87 35.35 283
OPM (%) 45.41 45.99 32.80 25.87 35.35

NPM (%) 27.05 26.59 16.93 12.02 16.51
-31
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 60.22 40.04 40.00 40.00 -
Yield (%) 3.09 1.88 1.73 1.66 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
KLBF
KALBE FARMA TBK.
Company Profile
PT Kalbe Farma Tbk. was established dated September 10th, 1966, within the framework of
the Domestic Capital Investment Law.
The scope of activities of the Company comprises, among others, pharmaceuticals, trading
and representative. Currently, the Company is primarily engaged in the development,
manufacturing, and trading of pharmaceuticals preparation including medicines and
consumer health products. The Company started its commercial operations in 1966.
The Subsidiaries are engaged in the Pharmaceutical: PT Bintang Toedjoe, PT Hexpharm

Jaya Laboratories, PT Saka Farma Laboratories, PT Finusolprima Farma Internasional, PT
Bifarma Adiluhung, Innogene Kalbiotech Pte. Ltd., PT Dankos Farma, PT Pharma Metric
Labs., PT KalGen DNA. Health Foods and Drinks: PT Sanghiang Perkasa, PT Kalbe Morinaga
Indonesia, PT Hale International, PT Kalbe Milko Indonesia. Sale and Distribution: PT
Enseval Putera Megatrading Tbk., PT Tri Sapta Jaya, PT Millenia Dharma Insani, PT Enseval
Medika Prima, PT Global Chemindo Megatrading, PT Renalmed Tiara Utama, Kalbe Vision
Pte. Ltd., Kalbe International Pte. Ltd., Asiawide Kalbe Philippines, Inc.
The Company’s production plants is located at Kawasan Industri Delta Silicon, Jln. M.H.
Thamrin, Block A3-1, Lippo Cikarang, Bekasi.
As of June 30th, 2014, the Group had a combined total of 11,776 permanent employees.
August 2014
Disclaimer:

KLBF Kalbe Farma Tbk. [S]
Industry Sub Sector : Pharmaceuticals (53) Market Capitalization : 81,093,961,250,300
14 | 81.1T | 1.61% | 51.69%
13 | 12.7T | 1.50% | 44.47%

Established Date : 10-Sep-1966 1. PT Bina Arta Charisma 4,058,666,540 : 8.66%
Listing Date : 30-Jul-1991 2. PT Ladang Ira Panen 4,319,452,940 : 9.21%
Under Writer IPO : 3. Lucasta Murni Cemerlang 4,439,895,440 : 9.47%
PT Merincorp 4. PT Diptanala Bahana 4,447,970,440 : 9.49%
PT Niaga Securities 5. PT Santa Seha Sanadi 4,545,646,840 : 9.70%
Securities Administration Bureau : 6. PT Gira Sole Prima 4,767,872,885 : 10.17%
PT Adimitra Transferindo 7. Public (<5%) 20,295,617,025 : 43.30%
Plaza Property 2nd Fl. Komp. Pertokoan Pulomas Blok VIII No. 1
Jln. Perintis Kemerdekaan Jakarta 13210 DIVIDEND ANNOUNCEMENT
Phone : (021) 478-81515 (Hunting) Bonus Cash Recording Payment
F/I
Fax : (021) 470-9697 Year Shares Dividend Cum Date Ex Date Date Date
1991 200.00 16-Apr-92 20-Apr-92 27-Apr-92 29-May-92 F
BOARD OF COMMISSIONERS 1991 1: 1 20-Oct-92 21-Oct-92 28-Oct-92 16-Nov-92 B
1. Johannes Setijono 1992 60.00 09-Dec-92 10-Dec-92 17-Dec-92 15-Jan-93 I
2. Farid Anfasa Moeloek *) 1992 70.00 30-Jun-93 01-Jul-93 08-Jul-93 06-Aug-93 F
3. Ferdinand Aryanto 1993 10 : 3 & 10 : 7 75.00 07-Jun-94 08-Jun-94 15-Jun-94 15-Jul-94 F
4. Jozef Darmawan Angkasa 1994 50.00 29-Aug-94 30-Aug-94 06-Sep-94 06-Oct-94 I
5. Santoso Oen 1994 85.00 10-Jul-95 11-Jul-95 19-Jul-95 18-Aug-95 F
6. Lucky Surjadi Slamet *) 1995 115.00 09-Jul-96 10-Jul-96 18-Jul-96 15-Aug-96 F
*) Independent Commissioners 1996 75.00 23-Jul-97 24-Jul-97 01-Aug-97 29-Aug-97 F
1999 2.00 10-Nov-00 13-Nov-00 20-Nov-00 06-Dec-00 F
BOARD OF DIRECTORS 1999 100 : 88 10-Nov-00 13-Nov-00 20-Nov-00 06-Dec-00 F
1. Bernadette Ruth Irawaty Setiady 2002 2.00 25-Aug-03 26-Aug-03 28-Aug-03 11-Sep-03 F
2. Budi Dharma Wreksoatmodjo 2003 1.00 16-Aug-04 18-Aug-04 20-Aug-04 03-Sep-04 F
3. Bujung Nugroho 2005 3.00 05-Jul-05 06-Jul-05 08-Jul-05 22-Jul-05 F
4. Ongkie Tedjasurja 2006 10.00 14-Jun-07 15-Jun-07 19-Jun-07 03-Jul-07 I
5. Vidjongtius 2007 10.00 31-Jul-08 01-Aug-08 05-Aug-08 20-Aug-08 F
2008 12.50 29-Jul-09 30-Jul-09 03-Aug-09 14-Aug-09 F
AUDIT COMMITTEE 2009 25.00 15-Jul-10 16-Jul-10 20-Jul-10 30-Jul-10 F
1. Lucky Surjadi Slamet 2010 70.00 27-Jun-11 28-Jun-11 01-Jul-11 13-Jul-11 F
2. Kai Arief Iman Selomulya 2011 95.00 28-Jun-12 29-Jun-12 03-Jul-12 17-Jul-12 F
3. Kurniawan Tedjo 2012 19.00 13-Jun-13 14-Jun-13 18-Jun-13 02-Jul-13 F
2013 17.00 13-Jun-14 16-Jun-14 18-Jun-14 02-Jul-14 F
CORPORATE SECRETARY
Vidjongtius ISSUED HISTORY
Listing Trading
HEAD OFFICE No. Type of Listing Shares Date Date
Kalbe Building 3rd Fl. 1. First Issue 10,000,000 30-Jul-91 30-Jul-91
Jln. Let. Jend. Suprapto Kav. 4, Cempaka Putih 2. Partial Listing 10,000,000 T: 30-Jul-91 : 30-Jan-92
Jakarta - 10510 3. Koperasi 500,000 T: 27-Feb-92 : 31-Dec-99
Phone : (021) 428-73688, 894-243908 4. Company Listing 29,500,000 29-Apr-92 29-Apr-92
Fax : (021) 428-73678 5. Bonus Shares 2,026,400,000 T: 17-Nov-92 : 06-Dec-00
6. Right Issue 8,000,000 T: 14-May-93 : 25-Jun-93
Homepage : www.kalbe.co.id 7. Dividen Shares 32,400,000 18-Jul-94 18-Jul-94
Email : vidjongtius@kalbe.co.id 8. Stock Split 6,004,800,000 T: 07-Oct-96 : 02-Jan-04
info@kalbe.co.id 9. Additional Listing (Merger) 2,034,414,422 21-Dec-05 21-Dec-05
10. Stock Splits 40,624,057,688 08-Oct-12 08-Oct-12
11. Decrease in Issued and Fully Paid Shares -3,904,950,000 13-Dec-13 13-Dec-13

TRADING ACTIVITIES
Kalbe Farma Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
1,800 320 Jan-10 1,540 1,290 1,540 10,843 546,542 760,159 20
Feb-10 1,640 1,430 1,560 9,652 491,564 767,800 19
1,575 280 Mar-10 1,900 1,570 1,870 27,381 1,292,608 2,247,853 22
Apr-10 2,125 1,800 2,075 29,043 1,329,016 2,672,996 21
May-10 2,125 1,620 1,880 31,887 1,142,739 2,166,262 19
1,350 240
Jun-10 2,150 1,780 2,100 20,196 763,008 1,505,050 22
Jul-10 2,550 2,000 2,450 21,430 856,260 1,995,278 22
1,125 200
Aug-10 2,475 2,225 2,325 13,405 319,097 746,780 21
Sep-10 2,725 2,300 2,550 14,065 374,294 946,092 17
900 160
Oct-10 2,725 2,500 2,675 15,376 475,379 1,248,286 21
Nov-10 4,100 2,675 3,500 26,804 932,118 2,980,808 21
675 120 Dec-10 3,825 2,975 3,250 29,162 709,139 2,415,538 20
450 80 Jan-11 3,375 2,450 2,825 31,889 512,854 1,539,793 21

Feb-11 3,000 2,700 2,925 12,472 175,174 503,579 18
225 40 Mar-11 3,400 2,875 3,400 26,005 409,546 1,256,625 23
Apr-11 3,725 3,350 3,575 21,717 366,099 1,318,778 20
May-11 3,600 3,225 3,575 27,352 309,123 1,078,937 21
Jun-11 3,575 3,225 3,375 19,396 206,133 693,300 20
Jul-11 3,700 3,400 3,475 23,402 357,183 1,269,992 21
Aug-11 3,550 2,900 3,475 18,325 192,858 638,119 19
Sep-11 3,725 2,650 3,250 22,062 249,601 835,454 20
Consumer Goods Industry Index Nov-11 3,600 3,300 3,525 17,036 129,667 451,000 22
January 2010 - July 2014 Dec-11 3,600 3,300 3,400 12,427 343,677 1,182,729 21
595%
555.3% Jan-12 3,650 3,375 3,525 15,399 122,271 428,028 21
510% Feb-12 3,600 3,400 3,500 18,914 172,533 602,764 21
Mar-12 3,550 3,375 3,550 18,538 283,565 982,054 21
425% Apr-12 4,050 3,400 4,025 31,628 485,446 1,795,766 20
May-12 4,025 3,750 3,875 39,920 454,029 1,783,899 21
340% Jun-12 4,000 3,700 3,775 30,929 384,956 1,485,524 21
Jul-12 3,900 3,675 3,825 32,278 394,523 1,497,405 22
Aug-12 4,000 3,750 3,875 33,041 255,670 999,731 19
255%
Sep-12 4,700 3,900 4,700 33,617 272,454 1,158,254 20
207.4% Oct-12 4,975 910 970 54,533 779,898 998,575 22
170%
Nov-12 1,040 960 1,030 68,691 1,528,172 1,514,316 20
Dec-12 1,150 980 1,060 53,129 1,506,913 1,585,510 18
85% 97.6%
Jan-13 1,130 1,000 1,090 48,914 1,891,111 1,965,394 21

- Feb-13 1,300 1,070 1,290 69,492 1,682,306 1,946,563 20
Mar-13 1,380 1,190 1,240 51,451 1,724,553 2,181,688 19
-85% Apr-13 1,390 1,200 1,390 51,858 1,928,884 2,479,590 22
Jun-13 1,450 1,130 1,440 76,854 1,752,293 2,311,851 19
Jul-13 1,500 1,300 1,430 100,827 1,558,750 2,191,524 23
Value (Billion Rp) 20,453 11,391 14,832 25,755 12,716 Oct-13 1,390 1,220 1,300 82,161 1,732,152 2,302,731 21
Days 245 247 246 244 137 Dec-13 1,260 1,160 1,250 54,113 1,220,791 1,480,756 19
Price (Rupiah) Jan-14 1,455 1,260 1,405 115,285 1,481,958 2,036,864 20

High 4,100 3,725 4,975 1,560 1,800 Feb-14 1,480 1,360 1,450 90,285 1,393,045 1,969,357 20
Low 1,290 2,450 910 1,000 1,260 Mar-14 1,495 1,400 1,465 100,433 1,431,485 2,067,755 20
Close 3,250 3,400 1,060 1,250 1,730 Apr-14 1,550 1,455 1,545 90,527 1,213,480 1,838,928 20
Close* 650 680 1,060 1,250 1,730 May-14 1,660 1,535 1,540 54,597 933,943 1,482,209 18
Jun-14 1,670 1,560 1,660 94,173 726,980 1,181,149 21
PER (X) 25.66 22.43 30.38 32.17 40.84 Jul-14 1,800 1,640 1,730 88,132 1,239,481 2,139,985 18
PER Industry (X) 16.41 16.22 19.75 19.15 20.27
PBV (X) 6.14 5.30 7.30 7.40 9.30

Receivables 1,363,957 1,635,311 1,938,156 2,273,379 2,455,620

1,550,829 1,705,189 2,115,484 3,053,495 3,168,233 10,000
Inventories
Current Assets 5,037,270 5,956,123 6,441,711 7,497,319 8,288,961
7,500
Fixed Assets 1,605,266 1,860,288 2,254,763 2,925,547 3,105,019
Other Assets 47,115 286,899 - 357,861 401,022
5,000
Total Assets 7,032,497 8,274,554 9,417,957 11,315,061 12,323,760
Growth (%) 17.66% 13.82% 20.14% 8.91% 2,500
Current Liabilities 1,146,489 1,630,589 1,891,618 264,059 3,437,839 -

Total Liabilities 1,260,580 1,758,619 2,046,314 438,572 3,600,724
Growth (%) 39.51% 16.36% -78.57% 721.01%
Authorized Capital 850,000 850,000 1,700,000 850,000 850,000 8,723
8,500
Paid up Capital 507,801 507,801 507,801 507,801 468,751 8,723
7,372
6,516
Par Value 50 50 50&10 10 10
6,944
5,374
5,164
Total Equity 5,373,784 6,515,935 7,371,644 8,499,958 8,723,035

Growth (%) 21.25% 13.13% 15.31% 2.62% 3,385
Total Revenues 10,226,789 10,911,860 13,636,405 16,002,131 8,379,752

Growth (%) 6.70% 24.97% 17.35%
-174
2010 2011 2012 2013 Jun-14
Cost of Revenues 5,060,404 5,360,687 7,102,971 8,323,018 4,367,382

Gross Profit 5,166,386 5,551,173 6,533,434 7,679,113 4,012,370
Expenses (Income) 3,375,482 3,563,914 4,225,417 5,106,591 2,687,327
16,002
Growth (%) 10.96% N/A 13,636

12,738
10,912
Tax 426,636 464,303 532,918 602,070 305,950

6,209
Growth (%) 13.33% 16.56% 11.01%

2,944
Current Ratio (%) 439.36 365.27 340.54 2,839.26 241.11
1,970
Dividend (Rp) 70.00 95.00 19.00 17.00 - 1,970
1,775
EPS (Rp) 124.69 145.95 28.45 37.80 21.18 1,523
BV (Rp) 529.12 641.58 120.97 167.39 186.09 1,568
1,344
DAR (X) 0.18 0.21 0.22 0.04 0.29
1,167
1,019
DER(X) 0.23 0.27 0.28 0.05 0.41
ROA (%) 19.11 18.41 18.85 17.41 8.27 765
ROE (%) 25.01 23.37 24.08 23.18 11.68

GPM (%) 50.52 50.87 47.91 47.99 47.88 363
OPM (%) 17.51 18.21 - - -

NPM (%) 13.14 13.96 13.02 12.31 12.16
-39
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 56.14 65.09 66.77 44.97 -
Yield (%) 2.15 2.79 1.79 1.36 -

COMPANY REPORT
LPKR
LIPPO KARAWACI TBK.
Company Profile
PT Lippo Karawaci Tbk. was established under the name PT Tunggal Reksakencana dated
October 15th, 1990.
The Company’s scope of activities include real estate, urban development, land purchasing
and clearing, land cut and fill, land development and excavation, infrastructure
development planning, developing, leasing, selling and managing of buildings, houses,
offices and industrial estates, hotels, hospitals, commercial centers and sports centers,
supporting infrastructure, including but not limited to golf courses, club houses,
restaurants, other entertainment centers, medical laboratories, medical pharmacies and
related facilities, directly or by investment or capital divestment; build and operate
environment infrastructure, build and manage public facilities and accommodation services
and operating activities in services consisting of public transportation, security services and
other supporting services, except for legal and taxation services.
The main activities of the Company include urban development, large scale integrated
development, retail malls, healthcare, hospitals & infrastructure, also property & portfolio
management.
The Company creates well-planned developments that circumvent traffic congestion, are
flood-free, and possess world-class infrastructure. The Company is driven by its vision of
impacting lives, while continuously creating value for its stakeholders. The needs of the
growing middle, upper middle and upper classes of Indonesia are met by the quality of the
services offered through each business segment, while sustainable growth is achieved
through a balanced portfolio of development projects supported and sustained by a stable
level of recurring income from healthcare, hotel leisure & hospitality, infrastructure, and
fee-based income as Retail Estate Investment Trust (REIT) and property managers.
The company is one of the incorporated in the business group Lippo Group.
As of June 30th, 2014, the Company and subsidiaries had 9,615 employees.
August 2014
Disclaimer:

LPKR Lippo Karawaci Tbk. [S]
35 | 25.4T | 0.50% | 68.48%
12 | 14.3T | 1.69% | 42.97%

Established Date : 15-Oct-1990 1. Bankjuliusbaerandcoltds/Apacificasiaholdingslimite 450,000,000 : 1.95%
Listing Date : 28-Jun-1996 2. Credit Suisse Agsg Traccl PT Multipolar Tbk. 1,212,280,000 : 5.25%
Under Writer IPO : 3. Pacific Asia Holding Ltd 3,676,619,908 : 15.93%
PT Pentasena Arthasentosa 4. Public (<5%) 17,738,789,711 : 76.87%
PT Sharestar Indonesia DIVIDEND ANNOUNCEMENT
Beritasatu Plasa 7th Fl. Bonus Cash Recording Payment
F/I
Jln. Jend. Gatot Subroto Kav. 35 - 36 Jakarta 12950 Year Shares Dividend Cum Date Ex Date Date Date
Phone : (021) 527-7966 1995 40.00 05-Dec-96 06-Dec-96 16-Dec-96 14-Jan-97 F
Fax : (021) 527-7967 1997 10.00 13-Jan-98 14-Jan-98 22-Jan-98 20-Feb-98 F
2005 10.00 19-Aug-05 22-Aug-05 24-Aug-05 08-Sep-05
BOARD OF COMMISSIONERS 2005 9.99 01-Dec-06 04-Dec-06 06-Dec-06 20-Dec-06 F
1. Theo L. Sambuaga 2006 4.62 04-Dec-07 05-Dec-07 07-Dec-07 27-Dec-07 F
2. Agum Gumelar *) 2010 2.88 11-Nov-10 12-Nov-10 16-Nov-10 01-Dec-10 I
3. Benny Haryanto Djie 2010 4.33 05-Oct-11 06-Oct-11 10-Oct-11 24-Oct-11 F
4. Farid Harianto *) 2011 7.79 27-Aug-12 28-Aug-12 30-Aug-12 13-Sep-12 F
5. Muladi *) 2012 11.85 29-Nov-13 02-Dec-13 04-Dec-13 18-Dec-13 F
6. Surjadi Soedirdja *)
7. Sutiyoso *) ISSUED HISTORY
8. Tanri Abeng *) Listing Trading
9. Viven Gouw Setiabudi No. Type of Listing Shares Date Date
*) Independent Commissioners 1. First Issue 30,800,000 28-Jun-96 28-Jun-96
2. Company Listing 244,000,000 T: 28-Jun-96 : 28-Feb-97
BOARD OF DIRECTORS 3. Convertible Bond 105,072,500 28-Jun-96 28-Jun-96
1. Ketut Budi Wijaya 4. Right Issue 5,815,239,737 T: 16-Jan-98 : 30-Dec-10
2. Djoko Harjono 5. Add Listing (Merger) 1,063,275,250 02-Aug-04 02-Aug-04
3. Jenny Kuistono 6. Warrant 279,099 T: 28-Jul-05 : 17-May-06
4. Ninik Prajitno 7. Stock Split 13,314,419,679 T: 28-Jul-06 : 26-Dec-07
5. Rahmawaty 8. Warrant I 1,054,603,354 T: 23-Nov-06 : 05-Dec-07
6. Stephen Choo Kooi Yoon 9. Additional Listing without RI 1,450,000,000 08-Jun-11 08-Jun-11
7. Tjokro Libianto
AUDIT COMMITTEE
1. Muladi
2. Herbudianto
3. Indra Simarta
CORPORATE SECRETARY
Jenny Kuistono
HEAD OFFICE
Menara Matahari 22nd Fl., Jln. Boulevard Palem Raya No. 7
Lippo Karawaci
Tangerang - 15811
Phone : (021) 256-69000
Fax : (021) 256-69099
Homepage : www.lippokarawaci.co.id
Email : corsec@lippokarawaci.co.id

TRADING ACTIVITIES
Lippo Karawaci Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,000 4,800 Jan-10 570 495 530 23,664 1,233,356 661,903 20
Feb-10 540 480 500 22,917 1,174,940 604,342 19
1,750 4,200 Mar-10 640 495 600 42,531 2,248,912 1,226,475 22
Apr-10 640 560 580 45,163 2,523,205 1,506,615 21
May-10 580 345 425 37,234 2,301,167 1,109,630 19
1,500 3,600
Jun-10 570 390 500 43,871 3,190,792 1,470,903 22
Jul-10 510 470 485 23,872 1,501,556 743,918 22
1,250 3,000
Aug-10 530 480 500 17,114 2,766,583 1,410,083 21
Sep-10 600 470 560 16,997 1,916,803 1,071,823 17
1,000 2,400
Oct-10 710 530 620 32,731 12,440,504 7,118,366 21
Nov-10 700 610 680 22,790 3,305,245 2,223,488 21
750 1,800 Dec-10 750 620 680 22,743 2,236,131 1,532,688 20
500 1,200 Jan-11 750 510 570 28,801 3,093,422 1,933,172 21

Feb-11 610 500 540 18,516 2,130,767 1,182,383 18
250 600 Mar-11 620 530 610 19,855 2,184,902 1,233,282 23
Apr-11 810 590 780 18,261 2,741,114 1,948,330 20
May-11 810 610 680 22,025 4,006,475 2,803,561 21
Jun-11 680 620 650 18,941 3,595,616 2,349,313 20
Jul-11 780 630 780 23,869 1,698,345 1,189,915 21
Aug-11 870 640 740 27,728 2,175,672 1,672,375 19
Sep-11 760 620 680 26,990 1,736,178 1,226,393 20
Closing Price*, Jakarta Composite Index (IHSG) and Oct-11 680 570 640 23,229 1,379,677 873,259 21
January 2010 - July 2014 Dec-11 680 620 660 10,394 891,879 575,944 21
315%
Jan-12 690 650 670 7,523 673,010 452,467 21
270% Feb-12 730 660 700 10,764 1,138,080 798,503 21
Mar-12 830 680 800 16,038 1,807,733 1,321,460 21
225% Apr-12 850 790 830 12,981 1,125,450 926,085 20
213.8% May-12 830 740 790 7,519 1,009,310 813,505 21
180% Jun-12 810 720 800 8,994 864,314 662,445 21
Jul-12 910 790 890 11,596 1,077,348 903,591 22
Aug-12 1,010 830 870 14,052 1,025,678 946,477 19
135%
126.9% Sep-12 990 870 990 10,666 710,159 659,702 20
97.6% Oct-12 990 900 930 11,956 750,374 715,666 22
90%
Nov-12 1,090 910 1,070 22,082 1,517,269 1,484,768 20
Dec-12 1,120 970 1,000 18,552 1,234,505 1,262,027 18
45%
Jan-13 1,050 980 1,030 18,954 1,044,107 1,060,012 21

- Feb-13 1,130 1,000 1,130 19,101 1,320,934 1,410,229 20
Mar-13 1,380 1,100 1,370 27,626 1,944,365 2,354,312 19
-45% Apr-13 1,420 1,270 1,350 47,000 1,764,716 2,375,613 22
Jun-13 1,850 1,400 1,520 56,929 2,584,811 4,219,775 19
Jul-13 1,520 1,070 1,280 59,085 2,688,034 3,436,476 23
SHARES TRADED 2010 2011 2012 2013 Jul-14 Aug-13 1,420 850 1,150 45,795 1,988,899 2,346,408 17
Volume (Million Sh.) 36,839 26,623 12,933 26,782 13,815 Sep-13 1,370 930 1,090 64,901 2,818,915 3,229,906 21
Value (Billion Rp) 20,680 17,618 10,947 33,257 14,303 Oct-13 1,190 990 1,130 68,222 2,516,548 2,710,895 21
Frequency (Thou. X) 352 250 153 548 283 Nov-13 1,150 860 910 41,217 2,116,780 2,026,117 20
Days 245 247 246 244 137 Dec-13 990 870 910 29,306 1,988,284 1,817,800 19
Price (Rupiah) Jan-14 1,000 855 950 37,016 2,155,619 2,024,577 20

High 750 870 1,120 1,850 1,295 Feb-14 960 910 940 39,852 2,392,473 2,240,643 20
Low 345 500 650 850 855 Mar-14 1,295 920 1,085 61,757 2,407,412 2,582,770 20
Close 680 660 1,000 910 1,100 Apr-14 1,220 1,040 1,070 47,022 1,840,563 2,076,457 20
Close* 680 660 1,000 910 1,100 May-14 1,160 1,035 1,035 29,729 1,310,521 1,437,331 18
Jun-14 1,065 930 960 28,924 1,476,320 1,487,519 21
PER (X) 27.99 26.26 9.30 17.25 18.86 Jul-14 1,180 945 1,100 38,898 2,232,519 2,453,791 18
PER Industry (X) 9.97 11.09 17.34 17.79 19.77
PBV (X) 1.91 1.62 2.01 1.52 1.60

Receivables 812,686 923,556 605,801 781,409 865,458

7,068,539 7,892,171 10,504,910 13,894,009 15,537,974 28,000
Inventories
Investment 1,052,210 2,963,651 85,784 130,431 111,392
21,000
Fixed Assets 1,206,375 210,276 2,222,377 2,810,892 2,908,998
Other Assets 269,536 419,508 - 60,968 104,286
14,000
Total Assets 16,155,385 18,259,171 24,869,296 31,300,362 34,605,700
Growth (%) 13.02% 36.20% 25.86% 10.56% 7,000
Bank Payable - 70,825 59,680 41,685 -

Growth (%) 10.96% 51.40% 27.79% 9.64%
Paid up Capital 2,162,769 2,307,769 2,307,769 2,307,769 2,307,769 14,178
11,470
Par Value 100 100 100 100 100
12,603

7,710
9,373
Total Equity 7,709,908 9,409,018 11,470,106 14,177,573 15,832,290

Growth (%) 22.04% 21.91% 23.60% 11.67% 6,143
Total Revenues 3,125,313 4,189,580 6,160,214 6,666,214 4,108,562

Growth (%) 34.05% 47.04% 8.21%
-317
2010 2011 2012 2013 Jun-14
Cost of Revenues 1,601,542 2,293,260 3,339,267 3,619,572 2,186,845

Gross Profit 1,523,770 1,896,320 2,820,947 3,046,643 1,921,717
Operating Expenses 802,411 968,324 1,271,753 1,103,623 807,768
6,666
6,160
Growth (%) 28.65% 66.94% 25.42%
5,306
Other Income (Expenses) -8,262 56,814 27,895 -18,190 -45,896 4,190 4,109
Income before Tax 719,254 984,810 1,577,088 1,924,830 1,068,053 3,946
3,125
Tax 124,733 170,716 254,241 332,339 169,846
Profit for the period 594,521 814,094 1,322,847 1,592,491 898,207
2,586
Growth (%) 36.93% 62.49% 20.38%

1,227
Period Attributable 525,346 708,282 1,060,222 1,228,230 672,911 -133
Comprehensive Income 568,603 579,917 2,482,548 1,676,148 1,114,752 2010 2011 2012 2013 Jun-14
Comprehensive Attributable 499,428 474,105 2,219,923 1,311,887 889,456
Dividend (Rp) 7.21 7.79 11.85 - -
1,592
EPS (Rp) 24.29 30.69 45.94 53.22 29.16 1,592
BV (Rp) 356.48 407.71 497.02 614.34 686.04 1,323
DAR (X) 0.49 0.48 0.54 0.55 0.54 1,268
DER(X) 1.03 0.94 1.17 1.21 1.19 898

943
814
ROA (%) 3.68 4.46 5.32 5.09 2.60
595
ROE (%) 7.71 8.65 11.53 11.23 5.67 618
GPM (%) 48.76 45.26 45.79 45.70 46.77

OPM (%) 23.08 22.15 25.15 29.15 27.11 293
NPM (%) 19.02 19.43 21.47 23.89 21.86

Payout Ratio (%) 29.68 25.38 25.79 - -
-32
2010 2011 2012 2013 Jun-14

Yield (%) 1.06 1.18 1.19 - -

COMPANY REPORT
LPPF
MATAHARI DEPARTMENT STORE TBK.
Company Profile
PT Matahari Department Store Tbk. was established under the name PT Stephens Utama
International Leasing Corp. dated April 1st, 1982. The Company started its commercial
operations in 1982.
Since 30 October 2009, th Company has engaged in the reail bussiness for several types of
products such as clothes, accessories, bags, shoes, cosmetics, and household appliances,
and management consulting service.
The Company’s operational head office is located in Menara Matahari 15th Fl., Jln.
Boulevard Palem Raya No. 7, Lippo Karawaci - Tangerang, Banten, and the stores are
located in cities throughout Indonesia. As of 30 June 2014, the Company operates 127
stores.
Parent company is PT Indonesia Meadow and PT Indonesia Meadow parent company is

Meadow Asia Holding Ltd., a company domiciled in Cayman Islands.
August 2014
Disclaimer:

LPPF Matahari Department Store Tbk.
Development Board Individual Index : 328.542
Industry Sub Sector : Retail Trade (93) Market Capitalization : 42,309,812,160,000
21 | 42.3T | 0.84% | 59.12%
15 | 11.6T | 1.37% | 47.26%

Established Date : 01-Apr-1982 1. PT Multipolar Tbk. 597,529,500 : 20.48%
Listing Date : 09-Oct-1989 2. Asia Color Company Limited 748,639,631 : 25.66%
PT Aseam Indonesia
PT Finconesia DIVIDEND ANNOUNCEMENT
PT Multicor Bonus Cash Recording Payment
F/I
PT Bank Pembangunan Indonesia Year Shares Dividend Cum Date Ex Date Date Date
PT Danareksa 1990 5:1 50.00 11-Jul-90 12-Jul-90 20-Jul-90 22-Aug-90 I
PT Sharestar Indonesia 1991 1 :2 175.00 13-Jul-92 14-Jul-92 21-Jul-92 11-Aug-92 F
Beritasatu Plasa 7th Fl. 1992 75.00 10-Jun-93 11-Jun-93 19-Jun-93 19-Jul-93 F
Jln. Jend. Gatot Subroto Kav. 35 - 36 Jakarta 12950 1993 5:1 50.00 21-Jul-94 22-Jul-94 29-Jul-94 26-Aug-94 F
Phone : (021) 527-7966 1994 75.00 23-Jun-95 26-Jun-95 04-Jul-95 03-Aug-95 F
1996 50.00 07-Jul-97 08-Jul-97 16-Jul-97 15-Aug-97 F
BOARD OF COMMISSIONERS 2010 32.25 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
1. John Bellis *) 2010 14.00 22-Aug-11 23-Aug-11 25-Aug-11 15-Sep-11 F
2. Henry Jani Liando 2013 157.70 11-Jun-14 12-Jun-14 16-Jun-14 30-Jun-14 F
3. Jonathan Limbong Parapak *)
4. Rene Mang Wing Ming ISSUED HISTORY
5. Sigit Prasetya Listing Trading
6. William Travis Saucer No. Type of Listing Shares Date Date
*) Independent Commissioners 1. First Issue 2,140,000 09-Oct-89 09-Oct-89
2. Partial Listing 2,250,000 12-Apr-90 24-Apr-90
BOARD OF DIRECTORS 3. Bonus Shares 878,000 27-Aug-90 27-Aug-90
1. Bunjamin Jonathan Mailool 4. Bonus Shares 10,536,000 13-Aug-92 13-Aug-92
2. Andre Rumantir 5. Dividen Shares 3,160,800 02-Sep-94 02-Sep-94
3. Joo Suk Kim 6. Company Listing 11,880,000 11-Jun-97 11-Jun-97
4. Larry Michael Remsen 7. Right Issue 1,295,481,600 19-Jul-01 19-Jul-01
5. Andy N. Purwohardono 8. Reverse Stocks -1,061,061,120 09-Nov-09 09-Nov-09
6. Wai Hoong Fock 9. Right Issue 2,652,652,800 04-Dec-09 04-Dec-09
AUDIT COMMITTEE
1. John Bellis
2. Prawiro Widjaja
3. Isnandar Rachmat Ali
CORPORATE SECRETARY
Miranti Hadisusilo
HEAD OFFICE
Menara Matahari 15th Fl.
Jln. Bulevar Palem Raya No. 7, Lippo Karawaci - 1200
Tangerang - 15811
Phone : (021) 546-9333, 547-5333, 547-5758
Fax : (021) 547-5650
Homepage :-
Email : miranti.hadisusilo@matahari.co.id

TRADING ACTIVITIES
Matahari Department Store Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
16,000 3,200 Jan-10 3,275 810 3,000 120 18,215 30,595 18
Feb-10 3,000 2,625 2,625 9 25 72 8
14,000 2,800 Mar-10 2,725 2,500 2,725 2 1 3 1
Apr-10 2,700 2,450 2,550 25 2,859,459 7,735,774 10
May-10 2,675 2,450 2,650 17 4,548 12,305 6
12,000 2,400
Jun-10 - - 2,650 - - - -
Jul-10 2,650 2,650 2,650 2 10 28 2
10,000 2,000
Aug-10 2,550 2,550 2,550 2 1 3 2
Sep-10 - - 2,550 - - - -
8,000 1,600
Oct-10 2,550 2,550 2,550 2 0.6 1 2
Nov-10 - - 2,550 - - - -
6,000 1,200 Dec-10 - - 2,550 - - - -
4,000 800 Jan-11 - - 2,550 1 0.3 0.8 1

Feb-11 - - 2,550 - - - -
2,000 400 Mar-11 2,700 2,550 2,700 3 3 8 2
Apr-11 2,550 2,550 2,550 1 0.5 1 1
May-11 2,550 2,550 2,550 1 1 3 1
Jun-11 2,400 2,400 2,400 2 1 2 1
Jul-11 2,750 2,400 2,700 8 4 10 2
Aug-11 - - 2,700 - - - -
Sep-11 - - 2,700 3 2,863,941 7,749,826 1
Closing Price*, Jakarta Composite Index (IHSG) and Oct-11 2,700 2,700 2,700 2 1 3 1
Trade, Sevices and Investment Index Nov-11 3,000 2,800 3,000 4 4 10 3
January 2010 - July 2014 Dec-11 3,000 2,300 2,400 6 5 12 4
1,820%
1690.1% Jan-12 2,300 2,300 2,300 5 21 47 2
1,560% Feb-12 - - 2,300 - - - -
Mar-12 - - 2,300 - - - -
1,300% Apr-12 2,300 2,300 2,300 4 11 24 4
May-12 2,500 2,500 2,500 2 2 5 2
1,040% Jun-12 - - 2,500 - - - -
Jul-12 2,500 2,500 2,500 3 17 43 3
Aug-12 2,600 2,500 2,600 3 7 18 2
780%
Sep-12 2,700 2,700 2,700 1 1 3 1
Oct-12 - - 2,700 - - - -
520%
Nov-12 - - 2,700 - - - -
Dec-12 - - 2,700 - - - -
260%
225.5%
97.6% Jan-13 - - 2,700 - - - -
- Feb-13 3,375 2,500 3,375 8 8 20 2
Mar-13 11,550 4,200 11,000 5,694 2,299,282 17,961,295 5
-260% Apr-13 12,200 11,000 12,100 16,693 158,212 1,822,277 22
Jun-13 13,050 9,750 11,600 20,216 159,803 1,792,094 19
Jul-13 13,250 10,500 12,450 19,188 99,430 1,158,399 23
Volume (Million Sh.) 2,882 2,864 0.06 3,340 852 Sep-13 13,600 10,000 10,500 30,316 109,528 1,229,329 21
Value (Billion Rp) 7,779 7,750 0.1 30,221 11,597 Oct-13 13,300 10,300 12,300 15,842 54,281 633,331 21
Frequency (Thou. X) 0.2 0.03 0.02 193 276 Nov-13 12,200 10,550 11,550 15,927 65,331 745,396 20
Days 49 17 14 191 137 Dec-13 11,400 10,300 11,000 14,073 45,788 493,022 19
Price (Rupiah) Jan-14 13,075 10,800 11,625 32,152 56,432 661,262 20

High 3,275 3,000 2,700 14,500 15,500 Feb-14 15,000 11,475 14,000 47,132 131,382 1,738,718 20
Low 810 2,300 2,300 2,500 10,800 Mar-14 15,000 12,900 13,900 50,174 338,527 4,466,054 20
Close 2,550 2,400 2,700 11,000 14,500 Apr-14 15,500 13,675 15,000 44,656 114,974 1,700,858 20
Close* 2,550 2,400 2,700 11,000 14,500 May-14 15,175 13,500 14,525 27,255 66,252 970,987 18
Jun-14 14,550 13,500 13,800 37,570 61,124 855,042 21
PER (X) 11.91 15.04 10.22 26.76 58.48 Jul-14 15,450 13,475 14,500 36,632 83,450 1,204,403 18
PER Industry (X) 21.27 16.89 19.08 15.43 18.07
PBV (X) 6.93 -2.59 -4.08 -31.10 -48.09

Cash & Cash Equivalents 956,105 918,974 999,872 772,217 531,690 6,250
Receivables 23,723 66,273 73,574 62,932 132,481

400,784 462,013 519,601 723,809 1,239,671 5,000
Inventories
Current Assets 1,471,328 1,567,335 1,744,220 1,703,067 2,124,834
3,750
Fixed Assets 572,099 622,891 694,005 727,186 708,198
Other Assets 12,044 15,796 21,908 28,268 27,671
2,500
Total Assets 5,413,870 2,422,472 2,929,752 2,936,882 3,349,988
Growth (%) -55.25% 20.94% 0.24% 14.07% 1,250

Growth (%) 18.10% -5.14% -23.51% 13.76%
Paid up Capital 386,794 386,794 386,794 386,794 386,794
Par Value 5,000 & 350 & 100 5,000 & 350 & 100 5,000 & 350 & 100 5,000 & 350 & 100 5,000 & 350 & 100
319
2011 2012 2013 Jun-14

-436 2010
Total Equity 1,074,248 -2,702,413 -1,931,532 -781,372 -879,804
Growth (%) N/A 28.53% 59.55% -12.60% -1,192 -781 -880
INCOME STATEMENTS Dec-10 Dec-11 Dec-12 Dec-13 Jun-14 -1,947
4,091,903 4,700,712 5,616,932 6,754,326 3,328,935 -1,932

Total Revenues
Growth (%) 14.88% 19.49% 20.25%
-2,702
-2,702
Cost of Revenues 1,458,713 1,595,216 1,910,789 2,391,274 1,220,510

Gross Profit 2,633,190 3,105,496 3,706,143 4,363,052 2,108,425
Expenses (Income) 1,539,854 1,864,195 2,121,792 2,548,184 1,420,596
Operating Profit 1,093,336 1,241,301 1,584,351 1,814,868 687,829 6,754
Growth (%) 13.53% 27.64% 14.55%

6,754
5,617
5,376
4,701
Other Income (Expenses) -234,742 -505,707 -425,356 -291,246 -169,427 4,092
Income before Tax 858,594 735,594 1,158,995 1,523,622 518,402 3,999
3,329
Tax 234,057 269,946 388,114 373,462 156,678
Profit for the period 624,537 465,648 770,881 1,150,160 361,724 2,621
Growth (%) -25.44% 65.55% 49.20%

1,243
Period Attributable - - 770,881 1,150,160 361,724 -135
Comprehensive Attributable - - - 1,150,160 361,724
Current Ratio (%) 100.44 91.75 80.37 90.10 68.03
1,150
Dividend (Rp) 46.25 - - 157.70 - 1,150
EPS (Rp) - - 264.19 394.17 123.97

BV (Rp) 368.16 -926.14 -661.96 -267.78 -301.52 916
771
DAR (X) 0.80 2.12 1.66 1.27 1.26 625
4.04 -1.90 -2.52 -4.76 -4.81
681
DER(X)
466
ROA (%) 11.54 19.22 26.31 39.16 10.80 446 362
ROE (%) 58.14 -17.23 -39.91 -147.20 -41.11
GPM (%) 64.35 66.06 65.98 64.60 63.34 212
OPM (%) 26.72 26.41 28.21 26.87 20.66

NPM (%) 15.26 9.91 13.72 17.03 10.87
-23
2010 2011 2012 2013 Jun-14

Payout Ratio (%) - 40.01 -
Yield (%) 1.81 - - 1.43 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
LSIP
PP LONDON SUMATRA INDONESIA TBK.
Company Profile
PT Perusahaan Perkebunan London Sumatra Indonesia Tbk. was established December

18th, 1962.
The Company commenced its commercial operations in 1963 and engaged in the
plantation business located in North Sumatera, South Sumatera, Java, East Kalimantan,
North Sulawesi, and South Sulawesi with a total planted area of 110,433 hectares as of
June 30th, 2014. The main products are crude palm oil and rubber, and small quantities of
cocoa, tea and seeds.
The Company is domiciled in Jakarta with operational branch offices located in Medan,
Palembang, Makassar, Surabaya and Samarinda. The Company’s registered office address
is at Prudential Tower 15th Fl., Jln. Jend. Sudirman Kav. 79, Jakarta.
Lonsum’s 38 inti estates (Company owned) and 14 plasma estates (smallholder farmer),
which are currently operational in Sumatra, Java, Kalimantan and Sulawesi, make use of
advanced research and development as well as agro-management expertise and a highly
skilled and an experienced workforce. The scope of the business has broadened to include
plant breeding, planting, harvesting, milling, processing and the selling of palm products,
rubber, cocoa and tea. The Company now has 20 factories which are operational in
Sumatra, Java and Sulawesi. Lonsum is known in the industry for the quality of its oil palm
an cocoa seeds, and this high-tech business is now a major growth driver for the Company.
PT Salim Ivomas Pratama Tbk. (SIMP) and First Pacific Company Limited, Hong Kong, are
the parent company and the ultimate parent company of the Group. As of June 30th, 2014,
the Group has a total of 14,913 permanent employees.
The Company has direct and indirect ownership in

• PT Multi Agro Kencana Prima,
• Lonsum Singapore Pte. Ltd.,
• PT Tani Musi Persada,
• PT Sumatra Agri Sejahtera,
• PT Tani Andalas Sejahtera,
• Agri Investments Pte., Ltd., and
• Sumatera Bioscience Pte. Ltd. Singapore.
August 2014
Disclaimer:

LSIP PP London Sumatra Indonesia Tbk. [S]
Industry Sector : Agriculture (1) Listed Shares : 6,822,863,965
Industry Sub Sector : Plantation (12) Market Capitalization : 14,328,014,326,500
62 | 14.3T | 0.28% | 78.52%
20 | 10.2T | 1.20% | 53.75%

Established Date : 18-Dec-1962 1. PT Salim Ivomas Pratama 4,058,425,010 : 59.48%
Under Writer IPO :
F/I
Plaza Central Building 2nd Fl. 1996 10 : 14 23-Jul-97 24-Jul-97 01-Aug-97 25-Aug-97 B
Jln. Jend. Sudirman Kav. 47 - 48 Jakarta 12930 1996 110.00 23-Jul-97 24-Jul-97 01-Aug-97 25-Aug-97 F
2008 208.00 26-May-09 27-May-09 29-May-09 05-Jun-09 F
1. Franciscus Welirang 2010 61.00 16-Jun-11 17-Jun-11 21-Jun-11 06-Jul-11 F
2. Axton Salim 2011 100.00 05-Jun-12 06-Jun-12 08-Jun-12 22-Jun-12 F
3. Edy Sugito *) 2012 66.00 14-Jun-13 17-Jun-13 19-Jun-13 03-Jul-13 F
4. Hans Ryan Aditio 2013 46.00 16-Jun-14 17-Jun-14 19-Jun-14 03-Jul-14 F
5. Hendra Widjaja
6. Monang Silalahi *) ISSUED HISTORY
7. Tengku Alwin Aziz *) Listing Trading
8. Werianty Setiawan No. Type of Listing Shares Date Date
*) Independent Commissioners 1. First Issue 38,800,000 05-Jul-96 05-Jul-96
2. Company Listing 163,538,872 05-Jul-96 05-Jul-96
BOARD OF DIRECTORS 3. Bonus Shares 283,274,421 26-Aug-97 26-Aug-97
1. Benny Tjoeng 4. Additional Listing without RI 280,096,500 24-Jun-04 24-Jun-04
2. Joefly Joesoef Bahroeny 5. Mandatory Convertible Note Conversion 329,519,500 22-Sep-04 22-Sep-04
3. Mark Julian Wakeford 6. Mandatory Convertible Note Conversion 269,343,500 02-Nov-07 02-Nov-07
4. Paulus Moleonoto 7. Stock Splits 5,458,291,172 25-Feb-11 25-Feb-11
5. Tio Eddy Hariyanto
6. Tjhie Tje Fie (Thomas Tjhie)
AUDIT COMMITTEE
1. Monang Silalahi
2. Hendra Susanto
3. Timotius
CORPORATE SECRETARY
Endah Resmiati Madnawidjaja
HEAD OFFICE
Prudential Tower 15th Fl.
Jln. Jend. Sudirman Kav. 79
Jakarta - 12910
Phone : (021) 5795-7718
Fax : (021) 5795-7719
Homepage : www.londonsumatra.com
Email : lonsum@londonsumatra.com
endah.resmiati@londonsumatra.com

TRADING ACTIVITIES
PP London Sumatra Indonesia Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
3,200 160 Jan-10 9,450 8,300 8,500 7,841 72,414 646,565 20
Feb-10 9,150 8,100 9,000 6,799 46,904 405,180 19
2,800 140 Mar-10 10,100 8,700 9,800 7,774 65,792 619,454 22
Apr-10 10,350 9,300 9,700 6,865 41,000 402,659 21
May-10 9,850 7,300 8,300 9,304 52,879 452,700 19
2,400 120
Jun-10 8,750 7,900 8,300 10,802 67,806 569,071 22
Jul-10 9,200 7,450 8,850 21,897 187,398 1,525,686 22
2,000 100
Aug-10 9,950 8,750 9,350 12,866 90,865 856,025 21
Sep-10 10,500 9,200 9,850 10,845 59,922 589,248 17
1,600 80
Oct-10 12,000 9,700 11,700 9,535 71,835 767,402 21
Nov-10 12,800 11,100 11,350 7,368 40,398 480,575 21
1,200 60 Dec-10 12,850 11,100 12,850 10,091 161,822 1,902,153 20
800 40 Jan-11 13,000 11,200 11,800 12,316 71,801 867,920 21

Feb-11 12,000 2,100 2,150 13,520 97,341 931,577 18
400 20 Mar-11 2,425 2,125 2,275 23,339 518,476 1,182,549 23
Apr-11 2,475 2,275 2,450 12,961 380,973 906,012 20
May-11 2,525 2,300 2,425 16,005 365,400 882,264 21
Jun-11 2,450 2,250 2,325 9,902 243,655 567,749 20
Jul-11 2,425 2,225 2,350 10,700 261,351 607,726 21
Aug-11 2,425 2,100 2,400 10,196 209,783 487,230 19
Sep-11 2,450 1,710 2,050 13,810 122,610 261,295 20
Agriculture Index Nov-11 2,400 2,050 2,375 10,456 225,400 514,122 22
January 2010 - July 2014 Dec-11 2,400 2,075 2,250 10,742 159,936 354,428 21
125%
Jan-12 2,500 2,175 2,425 11,452 198,053 474,007 21
100% 97.6% Feb-12 2,825 2,425 2,650 14,768 308,800 813,243 21
Mar-12 3,000 2,600 2,875 16,140 255,649 715,984 21
75% Apr-12 3,150 2,775 2,925 13,819 275,157 807,841 20
May-12 2,925 2,275 2,400 17,778 343,268 870,742 21
50% Jun-12 2,775 2,375 2,675 14,991 205,735 529,766 21
Jul-12 3,050 2,625 2,750 13,935 313,397 887,075 22
24.1% Aug-12 2,925 2,400 2,400 15,952 412,381 1,090,181 19
25%
23.5% Sep-12 2,600 2,325 2,450 16,586 456,401 1,129,082 20
Oct-12 2,450 2,250 2,325 14,768 375,878 876,755 22
-
Nov-12 2,450 1,840 1,870 13,104 264,249 577,970 20
Dec-12 2,325 1,830 2,300 16,652 334,739 679,771 18
-25%
Jan-13 2,525 2,150 2,200 17,678 323,112 747,259 21

-50% Feb-13 2,325 2,025 2,075 14,561 260,360 572,168 20
Mar-13 2,125 1,810 1,930 22,788 292,084 572,071 19
-75% Apr-13 1,930 1,520 1,520 18,150 267,715 477,137 22
Jun-13 1,980 1,670 1,720 34,477 528,876 966,936 19
Jul-13 1,740 1,120 1,120 39,032 633,985 848,808 23
SHARES TRADED 2010 2011 2012 2013 Jul-14 Aug-13 1,500 960 1,490 41,005 883,004 1,082,001 17
Volume (Million Sh.) 959 2,928 3,744 6,246 4,913 Sep-13 1,670 1,260 1,270 42,086 794,744 1,163,598 21
Days 245 247 246 244 137 Dec-13 2,050 1,740 1,930 24,982 511,934 970,207 19
Price (Rupiah) Jan-14 1,980 1,470 1,655 72,532 1,054,575 1,738,764 20

High 12,850 13,000 3,150 2,525 2,480 Feb-14 2,110 1,625 2,070 50,243 849,896 1,599,785 20
Low 7,300 1,710 1,830 960 1,470 Mar-14 2,400 2,020 2,210 69,302 901,196 2,009,766 20
Close 12,850 2,250 2,300 1,930 2,100 Apr-14 2,480 2,120 2,450 56,810 770,823 1,800,557 20
Close* 2,570 2,250 2,300 1,930 2,100 May-14 2,465 2,185 2,310 43,233 459,812 1,076,352 18
Jun-14 2,400 2,175 2,315 40,198 381,878 874,975 21
PER (X) 16.97 7.34 13.98 22.30 15.22 Jul-14 2,315 1,995 2,100 55,975 494,979 1,073,280 18
PER Industry (X) 0.14 1.79 33.17 20.59 16.01
PBV (X) 3.85 2.63 2.50 2.10 2.12

Receivables 38,802 112,071 52,132 116,796 54,172

264,473 368,244 645,954 374,485 418,419 7,000
Inventories
Current Assets 1,487,257 2,567,657 2,593,816 1,999,126 2,113,191
5,250
Fixed Assets 1,728,694 1,824,630 2,229,928 2,776,825 3,067,812
Other Assets 93,111 87,691 61,331 63,000 61,712
3,500
Total Assets 5,561,433 6,791,859 7,551,796 7,974,876 8,532,794
Growth (%) 22.12% 11.19% 5.60% 7.00% 1,750
Current Liabilities 621,593 531,326 792,482 804,428 1,123,994 -

Total Liabilities 1,007,328 952,435 1,272,083 1,360,889 1,765,166
Growth (%) -5.45% 33.56% 6.98% 29.71%
6,614
Paid up Capital 682,286 682,286 682,286 682,286 682,286 6,768 6,280
5,839
Par Value 500 100 100 100 100 4,554
5,387

4,006
Total Equity 4,554,105 5,839,424 6,279,713 6,613,987 6,767,628

Growth (%) 28.22% 7.54% 5.32% 2.32% 2,626
Total Revenues 3,592,658 4,686,457 4,211,578 4,133,679 2,372,152

Growth (%) 30.45% -10.13% -1.85%
-135
2010 2011 2012 2013 Jun-14
Cost of Revenues 1,821,244 2,324,138 2,530,503 2,880,220 1,516,522

Gross Profit 1,771,414 2,362,319 1,681,075 1,253,459 855,630
Expenses (Income) 371,894 356,795 357,102 227,810 222,174
Operating Profit 1,399,520 2,005,524 1,323,973 1,025,649 633,456 4,686
4,212 4,134
Growth (%) 43.30% -33.98% -22.53%
4,686
3,593
3,730
Other Income (Expenses) -17,738 84,989 48,110 -28,658 -20,451

Income before Tax 1,381,782 2,090,513 1,372,083 996,991 613,005 2,774
2,372
Tax 348,453 389,000 256,544 228,366 142,347
Profit for the period 1,033,329 1,701,513 1,115,539 768,625 470,658 1,818
Growth (%) 64.66% -34.44% -31.10%

862
Period Attributable 1,033,329 1,701,580 1,116,186 769,493 470,658 -94
Comprehensive Income 1,033,329 1,701,513 1,122,575 788,003 467,360 2010 2011 2012 2013 Jun-14
Comprehensive Attributable 1,033,329 1,701,580 1,123,222 788,871 467,360
Current Ratio (%) 239.27 483.25 327.30 248.52 188.01
1,702
Dividend (Rp) 61.00 100.00 66.00 46.00 - 1,702
EPS (Rp) 757.25 249.39 163.60 112.78 68.98

BV (Rp) 3,337.39 855.86 920.39 969.39 991.90 1,354
1,116
1,033
DAR (X) 0.18 0.14 0.17 0.17 0.21
0.22 0.16 0.20 0.21 0.26
1,007
DER(X) 769
ROA (%) 18.58 25.05 14.77 9.64 5.52
471
660
ROE (%) 22.69 29.14 17.76 11.62 6.95

GPM (%) 49.31 50.41 39.92 30.32 36.07 313
OPM (%) 38.96 42.79 31.44 24.81 26.70

NPM (%) 28.76 36.31 26.49 18.59 19.84
-34
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 8.06 40.10 40.34 40.79 -
Yield (%) 0.47 4.44 2.87 2.38 -

COMPANY REPORT
MNCN
MEDIA NUSANTARA CITRA TBK.
Company Profile
PT Media Nusantara Citra Tbk. has core businesses in content and the ownership and
operations of 3 out of the 10 national Free-To-Air televisions in Indonesia. MNC have 3
Free-To-Air (FTA) TVs - RCTI, MNCTV and GlobalTV - as well as 16 channels created and
produced by MNC that is broadcasted on Pay-TV. Currently, MNC also have other media
based business that supports the core businesses of MNC. Those businesses consist of
radio, print media, talent management, and a production house. MNC was established on
June 17, 1997.
The scope of Company's activities is to engage in general trading, construction, industrial,

agricultural, transportation, printing, multimedia through satellite and other
telecommunications peripheral, services and investments.
The Company is part of Mediacom Group. The Company has ownership in the following
subsidiaries:
Broadcasting :
1. PT Rajawali Citra Televisi Indonesia (RCTI)
2. PT Global Informasi Bermutu
3. PT Cipta Televisi Pendidikan Indonesia
4. PT MNC Networks and subsidiaries
5. Media Nusantara Citra B.V.
6. MNC International Middle East Limited and subsidiaries.
Print and online :
1. PT Media Nusantara Informasi and subsidiary
2. PT MNI Global
3. PT MNI Publishing and its subsidiary
4. PT Okezone Indonesia (Okezone)
Advertising agency :
1. PT Cross Media Internasional (CMI) and subsidiaries
Content production :
1. PT MNC Pictures
Talent management :
1. PT Star Media Nusantara
The Company started its commercial operations in December 2001. The Company and its
subsidiaries have a total of 6,508 employees as of June 30th, 2014.
August 2014
Disclaimer:

MNCN Media Nusantara Citra Tbk. [S]
Industry Sub Sector : Advertising, Printing And Media (95) Market Capitalization : 37,081,602,175,000
27 | 37.1T | 0.73% | 63.82%
49 | 4.74T | 0.56% | 78.05%

Established Date : 17-Jun-1997 1. PT Global Mediacom Tbk 790,000,000 : 5.57%
Listing Date : 22-Jun-2007 2. PT Global Mediacom Tbk 8,360,611,229 : 58.96%
PT Bhakti Securities
F/I
PT BSR Indonesia Year Shares Dividend Cum Date Ex Date Date Date
Komplek Perkantoran ITC Roxy Mas Blok E1 No. 10 - 11 2007 5.00 01-Dec-08 02-Dec-08 04-Dec-08 19-Dec-08 F
Jln. K.H. Hasyim Ashari Jakarta 10150 2009 5.00 02-Oct-09 05-Oct-09 07-Oct-09 21-Oct-09 I
Phone : (021) 631-7828 2009 7.00 29-Nov-10 30-Nov-10 02-Dec-10 17-Dec-10 F
Fax : (021) 631-7827 2010 15.00 29-Nov-11 30-Nov-11 02-Dec-11 16-Dec-11 F
2011 35.00 22-Jun-12 25-Jun-12 27-Jun-12 11-Jul-12 F
BOARD OF COMMISSIONERS 2012 55.00 06-Sep-13 09-Sep-13 11-Sep-13 25-Sep-13 F
1. Rosano Barack 2013 25.00 24-Dec-13 27-Dec-13 02-Jan-14 16-Jan-14 I
2. Adam Chesnoff 2013 35.00 14-Oct-14 15-Oct-14 17-Oct-14 31-Oct-14 F
3. Bambang Rudijanto Tanoesoedibjo
4. Irman Gusman *) ISSUED HISTORY
5. Sutanto *) Listing Trading
*) Independent Commissioners No. Type of Listing Shares Date Date
1. First Issue 4,125,000,000 22-Jun-07 22-Jun-07
BOARD OF DIRECTORS 2. Company Listing 9,625,000,000 T: 22-Jun-07 : 22-Feb-08
1. Hary Tanoesoedibjo 3. EMSOP Conversion II 23,504,500 T: 29-Nov-10 : 06-Jan-11
2. Diana Airin 4. EMSOP Conversion II & III 52,960,500 T: 17-Feb-11 : 19-Jul-11
3. Jarod Suwahjo 5. EMSOP Conversion II, III & IV 37,076,500 T: 26-Jul-11 : 21-May-12
4. Kanti Mirdiati Irmansyah 6. EMSOP Conversion III & IV 3,988,000 04-Aug-11 04-Aug-11
5. Nana Puspa Dewi 7. EMSOP Conversion II, III, IV & V 79,965,500 T: 23-May-12 : 15-Jun-12
8. ESOP/MSOP Conversion II, III, IV & V 8,114,000 T: 22-Oct-12 : 19-Nov-12
AUDIT COMMITTEE 9. ESOP/MSOP Conversion III, IV & V 517,500 T: 29-Oct-12 : 01-Nov-12
1. Irman Gusman 10. ESOP/MSOP Conversion III, IV, V & VI 143,344,500 T: 29-May-13 : 27-Nov-13
2. Hery Kusnanto 11. Revision ESOP/MSOP Conv. III, IV, V & VI -8,000 24-Jun-13 24-Jun-13
3. Kardinal A. Karim 12. ESOP/MSOP Conversion V & VI 80,882,000 28-May-14 28-May-14
CORPORATE SECRETARY
Syafril Nasution
HEAD OFFICE
MNC Tower 27th Fl.
Jln. Kebon Sirih Kav. 17 - 19
Jakarta - 10340
Phone : (021) 390-0885
Fax : (021) 392-0109, 390-4965, 392-7859
Homepage : www.mncgroup.com
Email : syafril.nasution@mncgroup.com

TRADING ACTIVITIES
Media Nusantara Citra Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
3,800 720 Jan-10 250 205 230 6,337 375,244 87,349 20
Feb-10 290 210 250 10,021 581,786 153,363 19
3,325 630 Mar-10 380 220 325 17,774 1,228,053 390,066 22
Apr-10 490 315 420 24,129 1,682,392 712,345 21
May-10 460 310 390 12,279 736,435 296,971 19
2,850 540
Jun-10 435 330 360 5,371 196,782 80,410 22
Jul-10 360 270 300 13,649 529,914 160,110 22
2,375 450
Aug-10 310 275 280 3,887 215,530 66,881 21
Sep-10 450 275 420 11,034 489,826 187,102 17
1,900 360
Oct-10 640 405 610 14,235 822,313 437,429 21
Nov-10 700 570 650 9,432 471,278 301,656 21
1,425 270 Dec-10 960 630 940 13,445 540,397 439,242 20
950 180 Jan-11 950 770 890 11,100 348,111 304,762 21

Feb-11 1,120 840 1,100 31,933 730,773 705,128 18
475 90 Mar-11 1,100 890 940 26,436 399,894 402,126 23
Apr-11 970 770 880 35,111 453,877 396,511 20
May-11 970 840 970 27,488 543,312 480,557 21
Jun-11 980 880 920 31,276 412,478 383,978 20
Jul-11 1,120 900 1,070 49,015 691,090 701,813 21
Aug-11 1,110 850 990 31,528 375,778 376,359 19
Sep-11 1,160 930 1,020 25,754 289,015 304,520 20
Closing Price*, Jakarta Composite Index (IHSG) and Oct-11 1,100 950 1,100 22,245 296,723 314,146 21
Trade, Sevices and Investment Index Nov-11 1,150 1,060 1,130 16,678 1,624,613 1,665,479 22
January 2010 - July 2014 Dec-11 1,400 1,130 1,310 38,694 1,034,546 1,325,977 21
1,680%
Jan-12 1,400 1,270 1,350 31,240 804,498 1,057,519 21
1,440% Feb-12 1,670 1,350 1,670 39,530 805,338 1,203,976 21
Mar-12 1,980 1,640 1,880 58,505 1,174,895 2,121,799 21
1,200% Apr-12 2,250 1,830 2,250 31,437 517,956 1,015,824 20
1145.2%
May-12 2,350 1,760 1,850 32,759 769,427 1,560,239 21
960% Jun-12 2,200 1,650 1,990 45,066 627,127 1,195,392 21
Jul-12 2,425 1,930 2,375 29,540 419,081 903,152 22
Aug-12 2,350 2,050 2,125 15,701 279,093 617,221 19
720%
Sep-12 2,600 2,100 2,600 22,091 414,742 969,614 20
Oct-12 2,875 2,575 2,825 30,045 412,681 1,129,092 22
480%
Nov-12 2,825 2,300 2,675 46,576 863,864 2,162,569 20
Dec-12 2,750 2,350 2,500 23,808 439,992 1,130,358 18
240% 225.5%
97.6% Jan-13 2,650 2,275 2,375 34,386 642,003 1,559,472 21
- Feb-13 2,975 2,300 2,950 26,895 380,307 980,432 20
Mar-13 3,275 2,750 2,825 30,497 358,184 1,053,598 19
-240% Apr-13 3,275 2,850 3,125 25,671 1,047,479 2,498,012 22
Jun-13 3,350 2,425 3,125 52,067 641,136 1,868,702 19
Jul-13 3,375 2,650 3,100 37,323 386,505 1,188,245 23
Days 245 247 246 244 137 Dec-13 2,750 2,400 2,625 27,379 238,428 610,480 19
Price (Rupiah) Jan-14 2,650 2,180 2,235 58,448 341,933 821,125 20

High 960 1,400 2,875 3,675 2,940 Feb-14 2,535 2,200 2,535 46,230 333,935 789,549 20
Low 205 770 1,270 2,275 2,180 Mar-14 2,850 2,470 2,630 49,623 301,730 791,129 20
Close 940 1,310 2,500 2,625 2,615 Apr-14 2,940 2,600 2,715 44,177 294,985 809,448 20
Close* 940 1,310 2,500 2,625 2,615 May-14 2,830 2,585 2,830 32,371 190,004 514,792 18
Jun-14 2,900 2,605 2,760 30,902 153,671 427,351 21
PER (X) 17.73 15.73 19.59 21.85 19.06 Jul-14 2,800 2,550 2,615 41,980 222,941 590,045 18
PER Industry (X) 21.27 16.89 19.08 15.43 18.07
PBV (X) 2.72 2.65 4.78 4.81 4.20

Receivables 2,202,994 2,558,400 2,615,430 3,062,803 3,527,938

915,310 894,311 1,139,486 1,332,726 1,474,996 9,000
Inventories
Current Assets 5,201,103 6,018,612 6,766,799 6,811,828 7,153,636
6,750
Fixed Assets 1,040,165 971,773 985,995 1,542,677 1,851,169
Other Assets 196,697 119,761 38,494 56,382 78,235
4,500
Total Assets 8,196,543 8,798,230 8,960,942 9,615,280 10,430,198
Growth (%) 7.34% 1.85% 7.30% 8.48% 2,250

Growth (%) -28.86% -15.27% 12.50% -14.74%
Paid up Capital 1,377,350 4,000,000 1,395,613 1,409,946 1,418,035 8,834
7,744
6,835
Par Value 100 100 100 100 100
7,032

5,230
Total Equity 4,767,037 6,834,503 7,297,162 7,743,574 8,834,339

Growth (%) 43.37% 6.77% 6.12% 14.09% 3,428
Total Revenues 4,855,907 5,390,474 6,265,260 6,522,347 3,372,834

Growth (%) 11.01% 16.23% 4.10%
-177
2010 2011 2012 2013 Jun-14
Cost of Revenues 3,666,775 2,617,157 2,856,657 2,850,657 1,397,602

Gross Profit 1,189,132 2,773,317 3,408,603 2,850,657 1,975,232
Expenses (Income) 3,666,775 1,262,793 1,147,895 1,278,161 595,001
Operating Profit 1,189,132 - - - - 6,522
6,522
6,265
Growth (%) N/A 5,390
5,192
4,856
3,373
Tax 280,850 385,353 497,689 583,687 340,666
Profit for the period 744,219 1,125,171 1,763,019 1,809,842 1,039,565
2,531
Growth (%) 51.19% 56.69% 2.66%

1,200
Period Attributable 730,218 1,070,203 1,657,087 1,691,172 972,983 -130
Comprehensive Income 696,011 1,153,383 1,781,284 1,791,090 999,758 2010 2011 2012 2013 Jun-14
Comprehensive Attributable 664,540 1,098,415 1,675,352 1,672,420 933,176
Current Ratio (%) 199.68 490.37 541.25 424.02 547.04
1,763 1,810
Dividend (Rp) 15.00 35.00 55.00 60.00 - 1,810
EPS (Rp) 53.02 26.76 118.74 119.95 68.61

BV (Rp) 346.10 170.86 522.86 549.21 623.00 1,441
1,125
DAR (X) 0.34 0.22 0.19 0.19 0.15 1,040
1,071
DER(X) 0.58 0.29 0.23 0.24 0.18

744
ROA (%) 9.08 12.79 19.67 18.82 9.97 702
ROE (%) 15.61 16.46 24.16 23.37 11.77

GPM (%) 24.49 51.45 54.40 43.71 58.56 333
OPM (%) 24.49 - - - -

NPM (%) 15.33 20.87 28.14 27.75 30.82
-36
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 28.29 130.82 46.32 50.02 -
Yield (%) 1.60 2.67 2.20 2.29 -

COMPANY REPORT
PGAS
PERUSAHAAN GAS NEGARA
(PERSERO) TBK.
Company Profile
PT Perusahaan Gas Negara (Persero) Tbk. was established in 1859. On May 13th, 1965, the Company
was stated as state owned enterprise and known as Perusahaan Negara Gas (PN. Gas).
The status of the Company was changed from a public service enterprise (Perum) to a state-owned
limited liability company (Persero) and the name was changed to PT Perusahaan Gas Negara
(Persero) based on Government Regulation No. 37 year 1994.
The Company’s purposes are to implement and support the Government’s economic and national
development programs, particularly in developing uses of natural gas for the benefit of the public as
well as in the supply of a sufficient volume and quality of gas for public consumption. To achieve
these objectives, the Company carries out planning, construction, operating and development of
natural gas downstream business which includes processing, transporting, storing and trading,
planning, construction, production development, supplying and distribution of processed gas; or
other businesses which support the foregoing activities in accordance with prevailing laws and
regulations. Currently, the Company’s principal business was the distribution and transmission of
natural gas to industrial, commercial and household users.
To achieve responsive sales target, the Company has divided its business areas into four Strategic
Business Units (SBU), as follows:
1. SBU Distribution Region I, Western Java Region until South Sumatera ,
2. SBU Distribution Region II, Eastern Java Region,
3. SBU Distribution Region III, Northern Sumatera Region and the Riau Islands,
4. SBU Sumatera-Java Transmission.
The Company commenced the construction of South Sumatera – West Java gas transmission I and II
will expected opereating maximum capacity of 460 mmscfd and 520 mmscfd (unaudited).
The company has ownership in subsidiaries: PT Transportasi Gas Indonesia (Transgasindo), PGN Euro
Finance 2003 Limited, PT PGAS Telekomunikasi Nusantara, PT PGAS Solution, PT Saka Energi
Indonesia, PT Gagas Energi Indonesia, PT PGN LNG Indonesia, and PT Permata Graha Nusantara. As of
June 30th, 2014, the Company and Subsidiaries had a total of 2,226 employees.
August 2014
Disclaimer:
otherwise responsible in anyway for any advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publicat

PGAS Perusahaan Gas Negara (Persero) Tbk. [S]
Industry Sub Sector : Energy (71) Market Capitalization : 143,024,898,356,400
8 | 143.0T | 2.83% | 40.70%
9 | 17.4T | 2.06% | 37.62%

Established Date : 01-Feb-1905 1. Negara Republik Indonesia 13,809,038,756 : 56.96%
Under Writer IPO :
PT ABN AMRO Asia Securities Indonesia Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2003 60.10 18-Jun-04 21-Jun-04 23-Jun-04 07-Jul-04 F
Puri Datindo - Wisma Sudirman 2004 1.71 23-Dec-04 27-Dec-04 29-Dec-04 30-Dec-04 I
Phone : (021) 570-9009 2005 104.43 30-Jun-06 03-Jul-06 05-Jul-06 14-Jul-06 F
2008 41.74 15-Jul-09 16-Jul-09 21-Jul-09 04-Aug-09 F
BOARD OF COMMISSIONERS 2009 10.00 08-Dec-09 09-Dec-09 11-Dec-09 23-Dec-09 I
1. Bayu Krisnamurthi 2009 144.20 08-Jul-10 09-Jul-10 13-Jul-10 27-Jul-10 F
2. Firmanzah 2010 10.20 27-Dec-10 28-Dec-10 30-Dec-10 04-Jan-11 I
3. A. Edy Hermantoro 2010 144.24 19-Jul-11 20-Jul-11 22-Jul-11 04-Aug-11 F
4. M. Zamkhani 2011 10.87 30-Nov-11 01-Dec-11 05-Dec-11 16-Dec-11 I
5. Pudja Sunasa *) 2011 123.75 12-Jun-12 13-Jun-12 15-Jun-12 29-Jun-12 F
6. Widya Purnama *) 2012 202.77 10-May-13 13-May-13 15-May-13 29-May-13 F
*) Independent Commissioners 2013 210.40 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
BOARD OF DIRECTORS ISSUED HISTORY

1. Hendi Prio Santoso Listing Trading
2. Djoko Saputro No. Type of Listing Shares Date Date
3. Hendi Kusnadi 1. First Issue 1,296,296,000 15-Dec-03 15-Dec-03
4. Jobi Triananda Hasjim 2. Company Listing 3,024,691,000 T: 15-Dec-03 : 15-Jun-04
5. M. Riza Pahlevi Tabrani 3. MSOP Conversion 215,637,305 T: 13-Dec-04 : 28-Dec-06
6. Muhammad Wahid Sutopo 4. MSOP Conversion II 3,261,500 T: 10-Nov-06 : 16-Feb-07
5. ESOP Conversion 53,551,388 T: 18-Jan-08 : 19-Feb-08
AUDIT COMMITTEE 6. Stock Split 18,373,748,772 04-Aug-08 04-Aug-08
1. Pudja Sunasa 7. Dana Proyek Pemerintah Conversion 1,274,322,231 T: 16-Apr-09 : 16-Oct-09
2. Gunawan Indradi
3. Imbuh Sulistyarini
4. Mohamad Slamet Wibowo
5. Kanyatama P. Mulyono
CORPORATE SECRETARY
Heri Yusup
HEAD OFFICE
Jln. K.H. Zainul Arifin No. 20
Jakarta - 11140
Phone : (021) 633-4838
Fax : (021) 633-1632
Homepage : www.pgn.co.id
Email : heri.yusup@pgn.co.id

TRADING ACTIVITIES
Perusahaan Gas Negara (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
6,400 320 Jan-10 4,075 3,650 3,775 44,943 1,002,028 3,808,868 20
Feb-10 3,775 3,500 3,625 22,168 577,102 2,111,200 19
5,600 280 Mar-10 4,400 3,625 4,250 37,776 1,241,685 5,007,390 22
Apr-10 4,350 3,900 4,100 35,271 881,280 3,599,898 21
May-10 4,100 3,250 3,900 34,545 924,035 3,426,968 19
4,800 240
Jun-10 4,000 3,625 3,875 26,959 688,332 2,632,119 22
Jul-10 4,175 3,800 4,050 28,540 767,983 3,080,172 22
4,000 200
Aug-10 4,200 3,850 4,000 20,978 534,731 2,155,757 21
Sep-10 4,100 3,725 3,850 47,032 1,003,349 3,915,422 17
3,200 160
Oct-10 4,200 3,800 4,050 47,910 1,203,704 4,787,956 21
Nov-10 4,600 4,025 4,300 30,895 862,133 3,726,637 21
2,400 120 Dec-10 4,650 4,150 4,425 21,681 466,014 2,035,413 20
1,600 80 Jan-11 4,500 3,875 4,225 26,664 743,884 3,107,955 21

Feb-11 4,300 3,475 3,550 45,031 838,222 3,214,807 18
800 40 Mar-11 3,900 3,500 3,900 56,620 1,354,368 5,004,188 23
Apr-11 4,050 3,775 4,000 27,808 760,375 3,001,507 20
May-11 4,250 3,900 4,050 26,581 918,787 3,766,922 21
Jun-11 4,075 3,900 4,025 18,063 461,564 1,843,643 20
Jul-11 4,125 3,850 3,975 28,033 677,815 2,688,936 21
Aug-11 4,000 2,925 2,950 88,001 1,991,726 6,642,358 19
Sep-11 2,975 2,025 2,675 71,256 1,410,779 3,769,027 20
Infrastructure, Utilities and Transportation Index Nov-11 3,175 2,850 3,075 29,870 716,594 2,175,410 22
January 2010 - July 2014 Dec-11 3,250 3,000 3,175 19,074 532,789 1,688,283 21
125%
Jan-12 3,500 3,050 3,375 27,122 470,932 1,557,024 21
100% 97.6% Feb-12 3,775 3,300 3,750 27,960 535,228 1,895,258 21
Mar-12 3,850 3,575 3,800 25,231 392,942 1,470,645 21
75% Apr-12 3,825 3,300 3,350 24,434 465,723 1,652,881 20
May-12 4,000 3,350 3,700 34,239 905,887 3,409,283 21
54.9% Jun-12 3,700 3,275 3,525 31,672 804,437 2,822,960 21
50% 49.4%
Jul-12 3,825 3,475 3,800 29,674 632,860 2,324,863 22
Aug-12 3,825 3,600 3,700 21,472 493,571 1,824,200 19
25%
Sep-12 4,200 3,675 4,125 23,478 639,777 2,546,133 20
Oct-12 4,650 4,025 4,650 24,945 723,985 3,145,063 22
-
Nov-12 4,800 4,450 4,525 27,061 648,018 2,967,230 20
Dec-12 4,650 4,375 4,600 21,842 477,616 2,171,383 18
-25%
Jan-13 4,725 4,450 4,675 33,296 535,744 2,462,840 21

-50% Feb-13 4,875 4,575 4,800 27,481 517,665 2,446,564 20
Mar-13 6,100 4,850 5,950 37,631 684,572 3,657,960 19
-75% Apr-13 6,350 5,550 6,250 29,703 573,930 3,376,638 22
Jun-13 5,800 4,600 5,750 59,111 873,388 4,642,986 19
Jul-13 6,050 5,350 5,900 50,191 572,520 3,265,952 23
Days 245 247 246 244 137 Dec-13 4,950 4,375 4,475 37,139 414,903 1,956,824 19
Price (Rupiah) Jan-14 4,780 4,120 4,770 106,143 731,381 3,299,365 20

High 4,650 4,500 4,800 6,450 6,125 Feb-14 5,075 4,660 4,900 61,662 432,426 2,115,770 20
Low 3,250 2,025 3,050 4,375 4,120 Mar-14 5,350 4,850 5,125 73,931 547,714 2,773,081 20
Close 4,425 3,175 4,600 4,475 5,900 Apr-14 5,575 5,100 5,325 62,511 494,101 2,620,377 20
Close* 4,425 3,175 4,600 4,475 5,900 May-14 5,800 5,250 5,425 39,910 403,160 2,219,449 18
Jun-14 5,575 5,200 5,575 46,024 388,534 2,098,889 21
PER (X) 17.19 12.49 12.61 10.92 16.15 Jul-14 6,125 5,400 5,900 53,554 391,901 2,259,475 18
PER Industry (X) 14.36 11.09 17.53 18.40 13.96
PBV (X) 7.73 4.48 4.90 3.73 4.60

Receivables 1,946,894 2,043,553 2,550,177 3,875,102 4,735,664

14,046 11,836 23,644 179,329 372,861 60,000
Inventories
Current Assets 13,858,679 13,656,295 19,183,520 21,847,077 24,791,715
45,000
Fixed Assets 16,781,897 15,866,650 16,378,657 22,542,829 24,153,023
Other Assets 23,056 38,309 21,425 50,620 90,349
30,000
Total Assets 32,087,431 30,976,446 37,791,930 53,536,157 67,048,481
Growth (%) -3.46% 22.00% 41.66% 25.24% 15,000

Growth (%) -18.81% 8.91% 33.63% 78.99%
Paid up Capital 2,424,151 2,424,151 2,424,151 4,164,206 2,424,151 33,463 31,120

Par Value 100 100 100 172 100 22,771
26,637

19,810
17,185
Total Equity 13,868,573 17,184,712 22,770,838 33,463,069 31,119,987 13,869
Growth (%) 23.91% 32.51% 46.96% -7.00% 12,984
Total Revenues 19,765,716 19,567,407 24,914,688 36,828,609 20,391,013

Growth (%) -1.00% 27.33% 47.82%
-669
2010 2011 2012 2013 Jun-14
Cost of Revenues 7,223,570 7,793,751 10,676,664 19,429,817 11,578,121

Gross Profit 12,542,146 11,773,656 14,238,024 17,398,792 8,812,892
Expenses (Income) 3,506,421 4,051,278 4,389,290 5,942,474 2,611,973
Growth (%) -14.54% 27.53% 16.32%

36,829
24,915
29,316
Other Income (Expenses) -972,551 -68,189 1,255,405 2,348,434 -71,883

19,766 19,567 20,391
Tax 1,599,774 1,535,979 2,253,611 2,836,789 1,538,038

Growth (%) -5.34% 44.66% 23.92%

6,776
Period Attributable 6,239,361 5,933,063 8,614,862 10,558,743 370 -737
Current Ratio (%) 343.40 549.92 419.63 201.01 264.64
10,968
Dividend (Rp) 154.44 134.62 202.77 210.40 - 10,968
EPS (Rp) 257.38 244.75 355.38 435.56 0.02 8,851

BV (Rp) 572.10 708.90 939.33 1,380.40 1,283.75 8,730
DAR (X) 0.53 0.45 0.40 0.37 0.54 6,463 6,118

1.22 0.80 0.66 0.60 1.15
6,493
DER(X) 4,591
ROA (%) 20.14 19.75 23.42 20.49 6.85 4,256
ROE (%) 46.60 35.60 38.87 32.78 14.75

GPM (%) 63.45 60.17 57.15 47.24 43.22 2,018
OPM (%) 45.71 39.47 39.53 31.11 30.41

NPM (%) 32.70 31.27 35.52 29.78 22.51
-219
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 60.00 55.00 57.06 48.31 -
Yield (%) 3.49 4.24 4.41 4.70 -

COMPANY REPORT
PTBA
TAMBANG BATUBARA
BUKIT ASAM (PERSERO) TBK.
Company Profile
PT Tambang Batubara Bukit Asam (Persero) Tbk. was established on March 2, 1981. In
1993, the Company was appointed by the Indonesian Government to develop a Coal
Briquette Operating Unit.
The head office located at Jln. Parigi No. 1, Tanjung Enim 31716, Sumatera Selatan. The
representative office located at Menara Kadin Indonesia 15th Floor, Jln. H.R. Rasuna Said
Blok X-5 Kav. 2-3, Jakarta 12950.
The scope of activities of the Company and its subsidiaries comprises coal mining activities,
including general surveying, exploration, exploitation, processing, refining, transportation
and trading, maintenance of special coal port facilities for internal and external needs,
operation of steam power plants for internal and external needs and providing consulting
services related to the coal mining industry as well as its derivative products.
In 1993, the Company was appointed by the Indonesian Government to develop a Coal
Briquette Operating Unit.
The company has direct ownership in subsidiaries:

• PT Batubara Bukit Kendi,
• PT Bukit Asam Prima,
• PT International Prima Coal,
• PT Bukit Asam Metana Ombilin,
• PT Bukit Asam Metana Enim,
• PT Bukit Asam Metana Peranap, and
• PT Bukit Asam Banko.
As of June 30th, 2014, the Company had a total of 3,035 permanent employees.
August 2014
Disclaimer:

PTBA Tambang Batubara Bukit Asam (Persero) Tbk. [S]
33 | 26.8T | 0.53% | 67.45%
43 | 5.71T | 0.67% | 74.34%

Established Date : 02-Mar-1981 1. PT Tambang Batu Bara Bukit Asam (Persero) Tbk. 129,997,500 : 5.64%
Listing Date : 23-Dec-2002 2. Negara Republik Indonesia 1,498,087,500 : 65.02%
PT Danareksa Sekuritas
PT Datindo Entrycom Bonus Cash Recording Payment
F/I
Puri Datindo - Wisma Sudirman Year Shares Dividend Cum Date Ex Date Date Date
Fax : (021) 570-9026 2004 5.80 22-Dec-04 23-Dec-04 28-Dec-04 29-Dec-04 I
2005 87.48 05-Jul-05 06-Jul-05 08-Jul-05 22-Jul-05
BOARD OF COMMISSIONERS 2005 101.54 02-Jun-06 05-Jun-06 07-Jun-06 16-Jun-06 F
1. Agus Suhartono 2006 105.39 29-May-07 30-May-07 04-Jun-07 15-Jun-07 I
2. Leonard 2007 164.97 18-Jun-08 19-Jun-08 23-Jun-08 07-Jul-08 F
3. Robert Heri 2009 66.75 25-Nov-09 26-Nov-09 01-Dec-09 15-Dec-09 I
4. S. Koesnaryo *) 2009 466.65 26-May-10 27-May-10 01-Jun-10 15-Jun-10 F
5. Seger Budiarjo 2010 66.75 20-Dec-10 21-Dec-10 23-Dec-10 29-Dec-10 I
6. Thamrin Sihite *) 2010 456.37 04-Jul-11 05-Jul-11 07-Jul-11 21-Jul-11 F
*) Independent Commissioners 2011 103.46 28-Nov-11 29-Nov-11 01-Dec-11 15-Dec-11 I
2011 700.48 29-May-12 30-May-12 01-Jun-12 15-Jun-12 F
BOARD OF DIRECTORS 2012 720.75 20-May-13 21-May-13 23-May-13 07-Jun-13 F
1. Milawarma 2013 461.97 28-Apr-14 29-Apr-14 02-May-14 16-May-14 F
2. Achmad Sudarto
3. Anung Dri Prasetya ISSUED HISTORY
4. Heri Supriyanto Listing Trading
5. Muhammad Jamil No. Type of Listing Shares Date Date
6. Maizal Gazali 1. First Issue 346,500,000 23-Dec-02 23-Dec-02
2. Company Listing 1,785,000,000 23-Dec-02 23-Dec-02
AUDIT COMMITTEE 3. Warrant 172,631,850 T: 14-Dec-04 : 28-Dec-05
1. S. Koesnaryo
2. Helmi Mahfud
3. Nuhindro Priagung Widodo
4. Seger Budiarjo
CORPORATE SECRETARY
Joko Pramono
HEAD OFFICE
Menara Kadin Indonesia 15th Fl. & 9th Fl.
Jln. H.R. Rasuna Said X-5, Kav. 2 & 3
Jakarta - 12950
Phone : (021) 525-4014
Fax : (021) 525-4002
Homepage : www.ptba.com
Email : jpramono@bukitasam.co.id

TRADING ACTIVITIES
Tambang Batubara Bukit Asam (Persero) Closing Price Freq. Volume Value
Day
Closing Volume
26,000 40.0 Jan-10 18,600 16,400 17,200 13,807 59,002 1,040,617 20
Feb-10 17,150 15,050 15,600 15,194 57,860 924,563 19
22,750 35.0 Mar-10 17,950 15,500 17,400 20,711 112,695 1,861,446 22
Apr-10 19,350 17,250 18,600 19,665 121,327 2,206,683 21
May-10 18,650 15,550 17,450 18,971 111,078 1,925,313 19
19,500 30.0
Jun-10 17,650 16,050 17,250 16,672 77,431 1,301,872 22
Jul-10 17,500 16,300 16,700 18,269 78,724 1,318,650 22
16,250 25.0
Aug-10 18,500 15,950 17,500 19,647 99,232 1,700,714 21
Sep-10 20,700 17,400 19,450 13,621 64,444 1,220,283 17
13,000 20.0
Oct-10 21,000 19,100 19,650 12,259 51,610 1,033,287 21
Nov-10 21,900 18,700 18,700 16,201 64,273 1,303,983 21
9,750 15.0 Dec-10 23,450 18,700 22,950 16,595 58,401 1,253,204 20
6,500 10.0 Jan-11 26,000 19,350 19,750 31,410 102,110 2,225,262 21

Feb-11 20,700 18,750 20,050 22,423 76,819 1,522,754 18
3,250 5.0 Mar-11 21,550 19,800 21,000 22,536 96,718 1,994,258 23
Apr-11 22,800 21,000 22,300 13,575 49,553 1,098,839 20
May-11 22,450 20,600 21,250 13,591 51,249 1,098,047 21
Jun-11 21,500 20,350 20,800 14,856 61,338 1,277,009 20
Jul-11 21,650 20,550 21,300 16,518 56,206 1,189,290 21
Aug-11 21,500 17,450 19,050 19,027 64,261 1,240,174 19
Sep-11 19,950 13,700 16,800 20,250 43,682 752,747 20
Mining Index Nov-11 18,500 16,500 17,000 15,147 40,315 711,620 22
January 2010 - July 2014 Dec-11 17,750 16,200 17,350 13,830 38,098 653,219 21
125%
Jan-12 20,250 17,300 20,150 15,251 52,009 999,520 21
100% 97.6% Feb-12 21,150 19,900 20,750 13,083 79,652 1,651,883 21
Mar-12 21,100 20,050 20,500 12,467 60,156 1,240,929 21
75% Apr-12 20,600 18,000 18,450 14,159 52,472 1,012,647 20
May-12 18,550 15,000 15,000 19,856 67,653 1,133,883 21
50% Jun-12 15,250 12,950 14,650 25,436 108,437 1,509,872 21
Jul-12 16,450 14,450 15,900 17,145 46,768 723,145 22
Aug-12 16,000 13,500 14,600 13,578 48,346 720,762 19
25%
Sep-12 17,000 13,800 16,200 16,341 61,071 953,500 20
Oct-12 16,900 15,550 16,000 10,502 41,017 668,623 22
-
Nov-12 16,900 13,800 14,000 14,844 36,151 564,858 20
Dec-12 16,000 13,650 15,100 16,876 51,945 774,274 18
-25%
-33.0%
-34.6% Jan-13 17,000 15,250 15,500 18,751 48,043 775,403 21
-50% Feb-13 15,800 14,700 15,100 15,553 36,334 556,775 20
Mar-13 15,550 13,500 14,400 15,521 51,161 758,208 19
-75% Apr-13 15,500 14,550 15,250 13,609 73,416 1,119,626 22
Jun-13 13,350 11,200 13,300 28,007 64,863 795,670 19
Jul-13 13,700 9,700 9,950 18,764 40,845 481,465 23
Volume (Million Sh.) 956 757 706 653 567 Sep-13 14,150 12,000 12,750 14,849 40,865 540,723 21
Days 245 247 246 244 137 Dec-13 12,100 10,150 10,200 14,770 52,142 590,411 19
Price (Rupiah) Jan-14 10,600 8,975 9,250 44,679 108,649 1,027,710 20

High 23,450 26,000 21,150 17,000 11,900 Feb-14 9,750 9,100 9,575 32,839 63,663 597,991 20
Low 15,050 13,600 12,950 9,700 8,975 Mar-14 9,650 9,125 9,325 31,705 71,519 681,021 20
Close 22,950 17,350 15,100 10,200 11,650 Apr-14 10,375 9,275 9,875 37,927 93,241 911,383 20
Close* 22,950 17,350 15,100 10,200 11,650 May-14 11,900 9,650 10,700 38,397 110,174 1,171,293 18
Jun-14 11,550 10,250 10,725 33,290 72,603 794,402 21
PER (X) 26.32 12.95 15.33 14.17 11.61 Jul-14 11,700 10,350 11,650 27,074 46,806 522,367 18
PER Industry (X) 17.69 16.17 8.49 19.30 4.45
PBV (X) 8.31 4.90 4.09 3.52 3.48

Receivables 997,178 1,180,195 1,545,556 1,427,572 1,663,280

423,678 64,483 765,964 901,952 938,901 11,000
Inventories
Current Assets 6,645,953 8,859,260 8,718,297 6,479,783 6,318,752
8,250
Fixed Assets 921,005 1,140,466 1,853,447 2,803,393 3,040,817
Other Assets 57,588 50,949 97,886 119,746 235,423
5,500
Total Assets 8,722,699 11,507,104 12,728,981 11,677,155 12,098,204
Growth (%) 31.92% 10.62% -8.26% 3.61% 2,750

Growth (%) 46.49% 26.38% -2.33% 6.08%
8,165
Paid up Capital 1,152,066 1,152,066 1,152,066 1,152,066 1,152,066 8,505
7,552 7,722
6,367
Par Value 500 500 500 500 500
6,770

5,035
Total Equity 6,366,736 8,165,002 8,505,169 7,551,569 7,721,899

Growth (%) 28.24% 4.17% -11.21% 2.26% 3,300
Total Revenues 7,909,154 10,581,570 11,594,057 11,209,219 6,427,329

Growth (%) 33.79% 9.57% -3.32%
-170
2010 2011 2012 2013 Jun-14
Cost of Revenues 4,258,988 5,302,592 6,505,932 7,745,646 4,312,921

Gross Profit 3,650,166 5,278,978 5,088,125 3,463,573 2,114,408
Expenses (Income) 1,346,008 1,219,874 1,494,615 1,310,735 720,935
11,209
10,582
Growth (%) 76.16% -11.47% -40.09%
11,594
7,909
9,229
Other Income (Expenses) 301,057 - 318,077 308,524 194,944

6,427
Tax 600,713 971,037 1,002,166 607,081 422,753

Growth (%) 54.49% -5.79% -36.27%

2,133
Current Ratio (%) 579.05 463.25 492.37 286.59 255.17
3,088
Dividend (Rp) 523.12 803.94 720.75 461.97 - 2,909
EPS (Rp) 871.86 1,339.26 1,258.66 792.55 501.72

BV (Rp) 2,763.18 3,543.63 3,691.27 3,277.40 3,351.33 2,458
1,999
0.26 0.29 0.33 0.35 0.36 1,854
DAR (X)
0.36 0.41 0.50 0.55 0.57
1,828
DER(X)
1,166
ROA (%) 22.92 26.84 22.86 15.88 9.64 1,198
ROE (%) 31.40 37.82 34.21 24.55 15.10

GPM (%) 46.15 49.89 43.89 30.90 32.90 568
OPM (%) 29.13 38.36 30.99 19.21 21.68

NPM (%) 25.27 29.18 25.09 16.54 18.14
-62
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 60.00 60.03 57.26 58.29 -
Yield (%) 2.28 4.63 4.77 4.53 -

COMPANY REPORT
PTPP
PEMBANGUNAN PERUMAHAN
(PERSERO) TBK.
Company Profile
PT Pembangunan Perumahan (Persero) Tbk. ("the Company") was established dated

August 26th, 1953.
Referring to PTPP vision "to become leading construction and investment company in
Indonesia with international competitive advantage", the company formulates business
strategy focusing on six business lines, consisting of Construction, Engineering
Procurement Costruction (EPC), Property, Precast, Equipment and Investment (on power
plant and infrastructure). The business strategy is to develop business lines which related
each other, to ensure effective synergy among the business lines with enhancement of
human resources capacity.
Supported by Goverment program as stated on Indonesia Economic Growth Acceleration

and Expansion Master Plan, as well as provided by PTPP competency, the Company is
confident that all of company's strategies will support the sustainable growth realization.
Thus, industrial trend towards green building concept also becomes considerable factor to
raise Company's competitive advantages.
As of June 30th, 2014 the Company had 1,655 employees.
August 2014
Disclaimer:

PTPP PP (Persero) Tbk. [S]
81 | 10.9T | 0.22% | 83.19%
46 | 5.26T | 0.62% | 76.26%

Established Date : 26-Aug-1953 1. Negara Republik Indonesia 2,469,642,760 : 51.00%
Listing Date : 09-Feb-2010 2. Public (<5%) 2,372,793,740 : 49.00%
Under Writer IPO :
F/I
PT DBS Vickers Securities Indonesia Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 2009 10.11 09-Jul-10 12-Jul-10 14-Jul-10 28-Jul-10 F
PT BSR Indonesia 2010 14.57 07-Jul-11 08-Jul-11 12-Jul-11 15-Jul-11 F
Komplek Perkantoran ITC Roxy Mas Blok E1 No. 10 - 11 2011 14.88 07-Jun-12 08-Jun-12 12-Jun-12 15-Jun-12 F
Jln. K.H. Hasyim Ashari Jakarta 10150 2012 19.19 22-May-13 23-May-13 27-May-13 10-Jun-13 F
Phone : (021) 631-7828 2013 26.06 21-Apr-14 22-Apr-14 24-Apr-14 07-May-14 F
Fax : (021) 631-7827
ISSUED HISTORY
1. Djoko Murjanto No. Type of Listing Shares Date Date
2. Aryanto Sutadi *) 1. Negara RI (Seri A) 1 09-Feb-10 00-Jan-00
3. Eddy Purwanto 2. Penawaran Umum 1,038,976,500 09-Feb-10 09-Feb-10
4. Husein Thaib *) 3. Company Listing 2,469,642,759 09-Feb-10 09-Feb-10
5. Muhammad Khoerur Roziqin 4. PP Employees Cooperative 1,333,817,240 09-Feb-10 08-Oct-10
BOARD OF DIRECTORS
1. Bambang Triwibowo
2. Harry Nugroho
3. I Wayan Karioka
4. Ketut Darmawan
5. Lukman Hidayat
6. Tumiyana
AUDIT COMMITTEE
1. Aryanto Sutadi
2. Handoko Tripriyono
3. Nurahini
4. Sularso
CORPORATE SECRETARY
Taufik Hidayat
HEAD OFFICE
Plaza PP
Jln. Letjend. T.B. Simatupang No. 57,
Pasar Rebo, Jakarta - 13760
Phone : (021) 840-3883
Fax : (021) 840-3890
Homepage : www.pt-pp.com
Email : corsec@pt-pp.com

TRADING ACTIVITIES
PP (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
Price* February 2010 - July 2014 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
2,400 240 Feb-10 610 550 580 6,099 494,929 275,615 13
Mar-10 690 570 660 6,888 524,009 315,336 22
2,100 210 Apr-10 750 640 720 8,813 552,843 388,788 21
May-10 740 610 680 2,680 393,152 262,769 19
Jun-10 730 640 720 3,597 422,035 291,745 22
1,800 180
Jul-10 800 680 770 5,831 599,048 437,120 22
Aug-10 810 740 780 4,489 407,952 314,682 21
1,500 150
Sep-10 1,030 780 900 4,759 436,121 369,563 17
Oct-10 970 870 890 9,386 373,185 339,684 21
1,200 120
Nov-10 920 840 850 3,453 210,723 180,540 21
Dec-10 860 720 800 4,906 208,743 167,544 20
900 90
Jan-11 820 630 630 6,962 240,500 172,143 21
600 60 Feb-11 640 550 580 4,470 187,951 109,693 18
Mar-11 710 570 710 7,237 356,739 221,654 23
300 30 Apr-11 740 640 700 4,861 237,350 166,047 20
May-11 710 630 680 2,708 106,685 70,249 21
Jun-11 680 640 670 1,043 62,668 39,098 20
Jul-11 680 620 640 2,870 255,058 147,697 21
Feb-10 Feb-11 Feb-12 Feb-13 Feb-14
Aug-11 640 455 455 10,000 234,732 122,068 19
Sep-11 485 265 330 22,104 427,552 188,543 20
Oct-11 355 280 345 7,489 310,223 102,824 21
Closing Price*, Jakarta Composite Index (IHSG) and Nov-11 340 315 315 2,000 53,301 17,721 22
Property, Real Estate and Bulding Construction Index Dec-11 530 320 485 14,591 470,020 218,008 21
February 2010 - July 2014
330% Jan-12 610 475 570 8,204 288,312 152,115 21
Feb-12 680 550 640 6,652 326,259 195,562 21
289.7%
275% Mar-12 670 600 630 4,896 200,951 127,218 21
Apr-12 720 610 700 8,208 485,613 319,004 20
220% May-12 760 590 600 7,221 384,823 258,898 21
197.3% Jun-12 620 530 610 3,859 201,669 108,323 21
165% Jul-12 650 580 600 2,427 210,891 127,057 22
Aug-12 680 550 570 4,330 253,171 158,175 19
Sep-12 760 570 730 5,160 320,054 215,131 20
110% 104.4% Oct-12 800 690 770 12,027 642,556 477,385 22
Nov-12 930 740 930 10,295 519,428 423,177 20
55%
Dec-12 950 800 830 11,432 419,354 369,417 18
- Jan-13 900 760 870 16,564 617,373 522,744 21

Feb-13 940 860 920 11,923 419,197 378,668 20
-55% Mar-13 1,230 890 1,200 17,716 790,488 798,175 19
Apr-13 1,430 1,130 1,420 19,097 690,182 884,041 22
-110% May-13 1,750 1,410 1,750 24,287 727,035 1,131,154 22
Feb 10 Feb 11 Feb 12 Feb 13 Feb 14 Jun-13 1,780 1,250 1,350 36,109 812,645 1,189,127 19
Jul-13 1,530 950 1,420 37,739 873,532 1,103,275 23
Aug-13 1,530 830 1,060 31,214 672,174 765,094 17
SHARES TRADED 2010 2011 2012 2013 Jul-14 Sep-13 1,270 840 1,120 51,644 1,283,678 1,414,590 21
Volume (Million Sh.) 4,623 2,943 4,253 8,579 3,078 Oct-13 1,440 1,060 1,310 34,973 898,458 1,077,363 21
Value (Billion Rp) 3,343 1,576 2,931 10,203 5,261 Nov-13 1,350 1,100 1,150 19,864 372,873 448,996 20
Frequency (Thou. X) 61 86 85 318 193 Dec-13 1,250 1,110 1,160 17,127 421,327 489,944 19
Days 219 247 246 244 137
Jan-14 1,370 1,105 1,350 18,040 347,504 443,365 20
Price (Rupiah) Feb-14 1,465 1,295 1,405 25,148 496,128 694,477 20
High 1,030 820 950 1,780 2,420 Mar-14 1,850 1,385 1,830 30,450 618,599 1,026,256 20
Low 550 265 475 760 1,105 Apr-14 1,960 1,630 1,845 34,058 562,369 1,009,244 20
Close 800 485 830 1,160 2,260 May-14 1,990 1,780 1,910 24,955 332,727 625,382 18
Close* 800 485 830 1,160 2,260 Jun-14 1,900 1,710 1,850 17,958 257,943 464,091 21
Jul-14 2,420 1,795 2,260 42,486 462,899 998,247 18
PER (X) 19.21 9.78 12.98 19.29 37.30
PER Industry (X) 9.97 11.09 17.34 17.79 19.77
PBV (X) 3.07 1.65 2.43 3.15 5.46

Public Accountant : Soejatna, Mulyana & Rekan
Cash & Cash Equivalents 959,609 1,306,110 1,303,124 2,396,802 1,028,309 12,500
Receivables 2,051,473 1,284,675 1,633,937 2,187,005 2,774,200

1,509,428 1,586,309 1,565,642 177,419 2,005,988 10,000
Inventories
Investment 287,389 243,697 222,844 289,598 126,601
7,500
Fixed Assets 77,127 75,997 72,775 141,882 429,854
Other Assets - - - -
5,000
Total Assets 5,444,074 6,933,354 8,550,851 12,415,669 12,421,646
Growth (%) 27.36% 23.33% 45.20% 0.05% 2,500
Bank Payable 912,003 1,115,578 836,766 2,492,056 -

Growth (%) 31.70% 25.18% 51.28% -0.14%
1,985
Paid up Capital 484,244 484,244 484,244 484,244 484,244 2,005
100 100 100 100 100 1,425

Par Value
1,596
1,262
Retained Earnings 315,433 479,030 709,439 1,037,220 1,057,694
1,187
Total Equity 1,261,843 1,425,440 1,655,849 1,984,747 2,004,909

Growth (%) 12.96% 16.16% 19.86% 1.02% 778
Total Revenues 4,401,229 6,231,898 8,003,873 11,655,844 4,602,858

Growth (%) 41.59% 28.43% 45.63%
-40
2010 2011 2012 2013 Jun-14
Cost of Revenues 3,983,232 5,526,136 7,149,367 10,382,923 4,065,860

Gross Profit 514,624 785,922 854,505 1,272,922 536,998
11,656
Growth (%) 66.99% 8.53% 51.01%
8,004
9,278

Income before Tax 326,666 418,476 545,392 766,890 291,524 6,900
6,232
Tax 125,018 178,253 235,709 346,170 144,820 4,401 4,603

4,522
Growth (%) 19.13% 28.91% 35.86%

2,145
Dividend (Rp) 14.57 14.88 19.19 26.06 -
421
EPS (Rp) 41.64 49.61 63.95 86.88 30.29
BV (Rp) 260.58 294.36 341.95 409.87 414.03
310
DAR (X) 0.77 0.79 0.81 0.84 0.84 335
DER(X) 3.31 3.86 4.16 5.26 5.20 240

249
ROA (%) 3.70 3.46 3.62 3.39 1.18 202
ROE (%) 15.98 16.85 18.70 21.20 7.32 163

147
GPM (%) 11.69 12.61 10.68 10.92 11.67

OPM (%) 8.91 10.51 8.88 9.21 8.09 77
NPM (%) 4.58 3.85 3.87 3.61 3.19

Payout Ratio (%) 34.99 30.00 30.01 30.00 -
-8
2010 2011 2012 2013 Jun-14

Yield (%) 1.82 3.07 2.31 2.25 -

COMPANY REPORT
PWON
PAKUWON JATI TBK.
Company Profile
PT Pakuwon Jati Tbk. is a diversified real estate developer focused in Jakarta and Surabaya.
The Company's portfolio of prime properties includes retail, residential, commercial and
hospitality developments
Established in 1982 and listed on both the Jakarta and Surabaya Stock exchanges since
1989, Pakuwon Jati is an established brand name with over 25 years of experience
successfully developing, marketing and operating properties. The Company is vertically
integrated across the full real estate value chain from land acquisition, property
development, marketing and operational management.
Based on Company’s Article of Associations, the Company is engaged in business:

1) Shopping center named as Tunjungan Plaza
2) Business center named as Menara Mandiri
3) Five-Star Hotels named as Sheraton Surabaya Hotel and Towers, also
4) Real estate business Pakuwon City and industrial estate (has not operated and will
change to residential estate), all located in Surabaya.
The Company has direct and indirect ownership in subsidiaries:

1) PT Artisan Wahyu,
2) PT Elite Prima Hutama,
3) PT Pakuwon Sentra Wisata,
4) PT Pakuwon Regency, and
5) PT Grama Pramesi Siddhi,
6) Pakuwon Jati Finance, B.V. Singapore,
7) Pakuwon Prima Pte. Ltd. Singapore.
The company started commercial operations in May 1986. Total employees of the
Company and its subsidiaries are 2,036.
August 2014
Disclaimer:

PWON Pakuwon Jati Tbk. [S]
44 | 20.0T | 0.40% | 72.47%
63 | 3.04T | 0.36% | 84.12%

Established Date : 20-Sep-1982 1. GIC S/A Government Of Singapore 2,434,518,413 : 5.00%
Listing Date : 09-Oct-1989 2. Concord Media Investment Ltd 3,556,800,000 : 7.00%
Under Writer IPO : 3. Raylight Investments Limited 3,441,204,000 : 7.00%
PT Danareksa (Persero) 4. JPMBLSA Re:JPMIB - PT Pakuwon Ar 6,080,129,840 : 12.00%
PT Aseam Indonesia 5. Burgami Investments Limited 10,063,591,200 : 20.00%
PT Inter-Pacific Financial Corporation 6. Public (<5%) 22,583,358,947 : 49.00%
PT Sirca Datapro Perdana DIVIDEND ANNOUNCEMENT
Wisma Sirca Bonus Cash Recording Payment
F/I
Jln. Johar No.18, Menteng, Jakarta 10340 Year Shares Dividend Cum Date Ex Date Date Date
Phone : (021) 314-0032, 390-5920, 390-0645 1990 50.00 08-Jun-90 11-Jun-90 15-Jun-90 22-Jul-90
Fax : (021) 390-0671, 390-0652 1991 75.00 28-Feb-91 01-Mar-91 08-Mar-91 08-Apr-91
1991 30.00 10-Jun-92 12-Jun-92 19-Jun-92 20-Jul-92 F
BOARD OF COMMISSIONERS 1991 2:1 23-Nov-92 24-Nov-92 01-Dec-92 23-Dec-92 F
1. Alexander Tedja 1992 25.00 09-Aug-93 10-Aug-93 18-Aug-93 18-Sep-93 F
2. Agus Soesanto *) 1993 25.00 12-Jul-94 13-Jul-94 20-Jul-94 19-Aug-94 F
3. Dyah Pradnyaparamita Duarsa *) 1994 20.00 05-Jul-95 06-Jul-95 14-Jul-95 11-Aug-95 F
*) Independent Commissioners 1995 17.50 30-May-96 31-May-96 10-Jun-96 08-Jul-96 F
1996 25.00 27-Jun-97 30-Jun-97 08-Jul-97 06-Aug-97 F
BOARD OF DIRECTORS 2011 1.45 09-Oct-12 10-Oct-12 12-Oct-12 25-Oct-12 F
1. Richard Adisastra 2012 3.50 08-Oct-13 09-Oct-13 11-Oct-13 25-Oct-13 F
2. Alexander Stefanus Ridwan Suhendra 2013 4.50 17-Jul-14 18-Jul-14 22-Jul-14 12-Aug-14 F
3. Eiffel Tedja
4. Irene Tedja ISSUED HISTORY
5. Minarto Listing Trading
6. Sutandi Purnomosidi No. Type of Listing Shares Date Date
7. Wong Boon Siew Ivy 1. First Issue 3,000,000 09-Oct-89 09-Oct-89
2. Company Listing 17,000,000 09-Oct-89 09-Oct-89
AUDIT COMMITTEE 3. Right Issue 50,000,000 01-Oct-91 01-Oct-91
1. Agus Soesanto 4. Bonus Shares 35,000,000 24-Dec-92 24-Dec-92
2. Antonius Susanto 5. Right Issue 5,000 18-Jul-94 29-Jul-94
3. Lisawati 6. Right Issue 4,300 18-Jul-94 05-Aug-94
7. Right Issue 6,500 18-Jul-94 10-Aug-94
CORPORATE SECRETARY 8. Right Issue 21,625 18-Jul-94 11-Aug-94
Minarto 9. Right Issue 30,450 18-Jul-94 16-Aug-94
10. Right Issue 1,650 18-Jul-94 19-Aug-94
HEAD OFFICE 11. Right Issue 20,500 18-Jul-94 19-Aug-94
EastCoast Center 5th Fl. 12. Right Issue 20,078,445 18-Jul-94 24-Aug-94
Pakuwon Town Square - Pakuwon City 13. Right Issue 9,804,048 18-Jul-94 30-Aug-94
Jln. Kejawan Putih Mutiara No. 17, Surabaya 14. Right Issue 74,483,629 18-Jul-94 31-Aug-94
Phone : (031) 582-08788 15. Right Issue 543,853 18-Jul-94 01-Sep-94
Fax : (031) 582-08798 16. Stock Split 210,000,000 29-Jan-96 29-Jan-96
17. Add. Listing without RI 247,000,000 03-Feb-06 03-Feb-06
Homepage : www.pakuwon.com 18. Add. Listing without RI (canceled) -247,000,000 20-Mar-06 20-Mar-06
Email : minarto@pakuwon.com 19. CB Conversion 22,705,000 21-Mar-06 21-Mar-06
20. CB Conversion 224,295,000 27-Mar-06 27-Mar-06
21. CB Conversion 876,577,000 08-Aug-06 08-Aug-06
22. Stock Split 6,174,308,000 19-Sep-07 19-Sep-07
23. Bonus Shares 2,315,365,500 22-Aug-08 22-Aug-08
24. Right Issue 2,006,650,100 02-Jan-12 02-Jan-12
25. Stock Split 36,119,701,800 30-Mar-12 30-Mar-12

TRADING ACTIVITIES
Pakuwon Jati Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
440 4,000 Jan-10 560 490 550 1,523 42,840 22,156 20
Feb-10 570 510 570 1,559 52,650 28,553 19
385 3,500 Mar-10 670 550 610 2,157 107,961 67,235 22
Apr-10 690 580 610 3,938 154,295 96,514 21
May-10 680 520 670 14,635 246,441 148,188 19
330 3,000
Jun-10 800 620 800 40,971 500,546 349,508 22
Jul-10 800 680 690 32,330 474,590 352,127 22
275 2,500
Aug-10 850 660 830 29,809 476,646 350,286 21
Sep-10 1,030 790 1,000 17,085 373,200 330,785 17
220 2,000
Oct-10 1,060 920 940 15,689 336,884 331,388 21
Nov-10 960 870 910 14,380 274,893 252,768 21
165 1,500 Dec-10 960 880 900 9,931 138,774 127,745 20
110 1,000 Jan-11 910 840 870 7,242 102,723 89,902 21

Feb-11 930 830 860 6,146 101,249 88,122 18
55 500 Mar-11 900 830 890 9,687 210,981 183,731 23
Apr-11 890 850 870 4,653 59,937 52,008 20
May-11 1,000 850 1,000 10,568 187,101 169,686 21
Jun-11 1,100 900 980 18,722 341,759 331,832 20
Jul-11 990 890 900 15,828 329,440 309,710 21
Aug-11 920 800 880 14,958 208,692 182,020 19
Sep-11 910 740 780 9,573 128,988 108,561 20
Property, Real Estate and Bulding Construction Index Nov-11 1,010 810 830 16,784 198,224 181,996 22
January 2010 - July 2014 Dec-11 860 670 750 11,627 148,648 115,525 21
315%
Jan-12 810 740 790 16,231 1,093,273 738,333 21
270% Feb-12 870 780 820 19,327 240,501 198,973 21
Mar-12 880 199 205 14,461 233,067 169,374 21
225% 231.2% Apr-12 210 196 205 14,165 384,695 77,176 20
213.8% May-12 205 187 188 10,811 272,709 53,115 21
180% Jun-12 194 170 194 13,375 281,939 51,964 21
Jul-12 235 194 225 25,803 795,941 169,716 22
Aug-12 230 200 225 12,187 1,099,613 241,673 19
135%
Sep-12 275 215 270 16,415 610,396 146,478 20
97.6% Oct-12 305 250 280 34,467 1,312,257 361,147 22
90%
Nov-12 280 215 230 20,718 4,744,453 1,132,903 20
Dec-12 245 215 225 19,586 839,838 195,609 18
45%
Jan-13 285 220 275 33,019 1,794,827 468,474 21

- Feb-13 365 270 360 37,849 2,265,935 696,864 20
Mar-13 390 330 385 39,189 2,099,959 754,102 19
-45% Apr-13 410 345 405 55,798 2,863,722 1,079,612 22
Jan 10 Jan 11 Jan 12 Jan 13 Jan 14 May-13 430 370 420 63,308 5,045,118 2,006,700 22
Jun-13 425 305 345 53,787 2,935,423 1,041,998 19
Jul-13 390 310 380 40,125 2,138,014 729,542 23
SHARES TRADED 2010 2011 2012 2013 Jul-14 Aug-13 390 240 290 26,014 1,402,520 447,531 17
Volume (Million Sh.) 3,180 2,148 11,909 26,640 8,424 Sep-13 310 250 285 38,823 1,910,635 551,184 21
Value (Billion Rp) 2,457 1,921 3,536 8,934 3,039 Oct-13 320 260 310 41,350 1,643,983 475,042 21
Frequency (Thou. X) 184 137 218 480 339 Nov-13 315 250 250 26,908 1,219,425 331,106 20
Days 245 247 246 244 137 Dec-13 290 250 270 23,647 1,320,513 351,679 19
Price (Rupiah) Jan-14 340 261 307 48,959 976,326 299,281 20

High 1,060 1,100 880 430 449 Feb-14 355 303 330 45,367 1,135,771 374,607 20
Low 490 670 170 220 261 Mar-14 392 323 350 52,428 1,413,058 511,373 20
Close 900 750 225 270 415 Apr-14 392 338 352 61,363 1,702,129 622,424 20
Close* 217 188 225 270 415 May-14 408 353 408 43,214 1,025,350 388,372 18
Jun-14 400 337 349 36,740 791,084 293,337 21
PER (X) 33.01 19.88 14.14 10.90 11.03 Jul-14 449 344 415 50,717 1,380,171 550,046 18
PER Industry (X) 9.97 11.09 17.34 17.79 19.77
PBV (X) 6.32 3.17 3.46 3.37 4.17

Cash & Cash Equivalents 312,956 621,021 1,315,146 2,126,206 2,280,127 10,000
Receivables 123,814 116,796 138,509 166,915 205,582

2,927 3,121 1,262,136 1,051,081 1,186,687 8,000
Inventories
Investment 1,996,240 2,033,472 216 268,531 267,766
6,000
Fixed Assets 736,173 1,659,292 844,548 673,096 713,680
Other Assets - 14 11 11 28
4,000
Total Assets 3,937,326 5,744,711 7,565,820 9,298,245 9,898,975
Growth (%) 45.90% 31.70% 22.90% 6.46% 2,000
Bank Payable 1,085,338 1,925,967 1,764,389 1,592,264 -

Trade Payable 13,615 65,241 33,929 54,754 105 2010 2011 2012 2013 Jun-14
Growth (%) 42.34% 31.43% 17.25% -1.64%
Paid up Capital 1,003,325 1,203,990 1,203,990 1,203,990 1,203,990 4,788
4,103
Par Value 100 100 25 25 25
3,812
3,135
2,835
2,373
Total Equity 1,429,058 2,373,135 3,134,536 4,102,509 4,788,445
Growth (%) 66.06% 32.08% 30.88% 16.72% 1,858
1,429
Total Revenues 1,228,008 1,478,105 2,165,397 3,029,797 1,880,316

Growth (%) 20.37% 46.50% 39.92%
-96
2010 2011 2012 2013 Jun-14
Cost of Revenues 663,998 743,405 931,477 1,264,879 719,868

Gross Profit 564,010 734,700 1,233,920 1,764,919 1,160,448
Operating Profit 468,872 469,871 - - - 3,030
3,030
Growth (%) 0.21% N/A

2,412
2,165
Income before Tax 385,552 469,871 901,105 1,331,192 1,040,435 1,794
1,478
Tax 67,822 91,339 -134,609 194,644 117,781 1,228
1,176
Growth (%) 19.59% 102.49% 48.28%

557
Period Attributable 272,358 346,859 747,989 1,132,820 905,725 -61
Comprehensive Attributable 272,358 346,859 747,989 1,132,820 905,725
Dividend (Rp) - 1.45 3.50 4.50 -
1,137
EPS (Rp) 27.15 28.81 15.53 23.52 18.81 1,137
BV (Rp) 142.43 197.11 65.09 85.19 99.43 923

DAR (X) 0.60 0.59 0.59 0.56 0.52 905
766
DER(X) 1.66 1.42 1.41 1.27 1.07
673
ROA (%) 8.04 6.59 10.13 12.22 9.32

ROE (%) 22.15 15.95 24.45 27.70 19.27 379
317
441
GPM (%) 45.93 49.71 56.98 58.25 61.72

OPM (%) 38.18 31.79 - - - 209
NPM (%) 25.78 25.61 35.40 37.51 49.07

Payout Ratio (%) - 5.03 22.53 19.13 -
-23
2010 2011 2012 2013 Jun-14

Yield (%) - 0.19 1.56 1.67 -

COMPANY REPORT
SCMA
SURYA CITRA MEDIA TBK.
Company Profile
PT Surya Citra Media Tbk. was established on January 29th, 1999. The Company started its
commercial operations in 2002.
Company's scope of activities in the field of business related to multimedia services,

including producing local television programs and sell them to Subsidiary.
The Company is domiciled in SCTV Tower - Senayan City, Jln. Asia Afrika Lot 19, Jakarta. PT
Elang Mahkota Teknologi Tbk is the ultimate parent entity of the Company and
subsidiaries.
The Company has five direct subsidiaries, namely PT Surya Citra Televisi
(SCTV) with a shareholding of 99.99%, PT Indosiar Visual Mandiri (99.99%), PT Bangka Tele
Vision (99.34%), PT Screenplay Produksi (51%), and PT Surya Citra Pesona (51%).
As of June 30, 2014, the Company and Subsidiaries have 2,632 employees.
August 2014
Disclaimer:

SCMA Surya Citra Media Tbk. [S]
Industry Sub Sector : Advertising, Printing And Media (95) Market Capitalization : 55,562,084,689,200
18 | 55.6T | 1.10% | 56.51%
37 | 6.75T | 0.80% | 70.05%

Established Date : 29-Jan-1999 1. PT Elang Mahkota Teknologi 10,173,221,151 : 69.58%
Under Writer IPO :
PT CLSA Indonesia DIVIDEND ANNOUNCEMENT
F/I
Plaza Central Building 2nd Fl. 2002 15.00 20-Aug-02 21-Aug-02 26-Aug-02 09-Sep-02 I
Jln. Jend. Sudirman Kav. 47 - 48 Jakarta 12930 2002 30.00 01-Jul-03 02-Jul-03 04-Jul-03 18-Jul-03 F
Phone : (021) 252-5666 2003 5.00 05-Aug-04 06-Aug-04 10-Aug-04 25-Aug-04 F
2004 25.00 08-Dec-05 09-Dec-05 13-Dec-05 28-Dec-05 F
1. Raden Soeyono 2006 8.00 15-Dec-06 18-Dec-06 20-Dec-06 05-Jan-07 I
2. Glenn Muhammad Surya Yusuf *) 2007 20.00 01-Aug-07 02-Aug-07 06-Aug-07 21-Aug-07 I
3. Jay Geoffrey Wacher 2007 8.00 10-Sep-08 11-Sep-08 15-Sep-08 29-Sep-08 F
4. Suryani Zaini *) 2008 40.00 16-Dec-08 17-Dec-08 19-Dec-08 08-Jan-09 F
2009 170.00 16-Jun-10 17-Jun-10 21-Jun-10 05-Jul-10 F
BOARD OF DIRECTORS 2010 60.00 08-Nov-10 09-Nov-10 11-Nov-10 23-Nov-10 I
1. Sutanto Hartono 2010 225.00 27-Jun-11 28-Jun-11 01-Jul-11 12-Jul-11 F
2. Alvin W. Sariaatmadja 2011 35.00 27-Jun-11 28-Jun-11 01-Jul-11 12-Jul-11 I
3. Grace Wiranata 2011 125.00 14-Jun-12 15-Jun-12 19-Jun-12 03-Jul-12 F
4. Harsiwi Achmad 2012 48.00 06-May-13 07-May-13 10-May-13 24-May-13 F
5. Lie Halim 2013 15.00 21-Nov-13 22-Nov-13 26-Nov-13 10-Dec-13 I
6. Emanuel Loe Soei Kim 2013 51.00 18-Aug-14 19-Aug-14 21-Aug-14 04-Sep-14 F
AUDIT COMMITTEE ISSUED HISTORY

1. Glenn Muhammad Surya Yusuf Listing Trading
2. Emmanuel Bambang Suyitno No. Type of Listing Shares Date Date
3. M. Risanggono Soemaryono 1. First Issue 375,000,000 16-Jul-02 16-Jul-02
2. First Issue (Green Shoe) 56,250,000 16-Jul-02 16-Jul-02
CORPORATE SECRETARY 3. Company Listing 1,443,750,000 T: 16-Jul-02 : 28-Feb-03
Hardijanto Saroso 4. Warrant 18,750,000 05-Mar-03 05-Mar-03
5. ESOP Conversion 56,250,000 T: 23-May-08 : 14-Jun-12
HEAD OFFICE 6. Stock Splits 7,800,000,000 29-Oct-12 29-Oct-12
SCTV Tower -Senayan City 7. Merger with IDKM 4,871,601,234 01-May-13 01-May-13
Jln. Asia Afrika Lot. 19
Jakarta - 10270
Phone : (021) 279-35599
Fax : (021) 279-35598
Homepage : www.scm.co.id
Email : hardijanto.s@scm.co.id

TRADING ACTIVITIES
Surya Citra Media Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
4,000 320 Jan-10 740 610 730 335 6,299 4,417 19
Feb-10 840 710 840 199 36,477 26,458 17
3,500 280 Mar-10 900 780 900 168 3,441 2,943 20
Apr-10 1,160 850 1,140 381 11,232 11,749 18
May-10 1,200 900 1,120 345 6,162 6,871 15
3,000 240
Jun-10 1,410 1,080 1,120 1,770 28,217 36,211 22
Jul-10 1,810 1,030 1,750 1,187 14,655 19,712 21
2,500 200
Aug-10 2,225 1,740 2,100 2,303 22,099 42,690 21
Sep-10 4,050 2,050 3,550 6,128 46,427 144,181 17
2,000 160
Oct-10 3,725 3,100 3,300 1,751 8,658 30,233 21
Nov-10 3,575 2,975 3,300 970 9,269 31,236 21
1,500 120 Dec-10 3,675 3,175 3,550 884 12,262 42,350 20
1,000 80 Jan-11 3,725 3,250 3,450 271 2,538 8,852 19

Feb-11 3,825 3,300 3,800 135 3,470 11,977 12
500 40 Mar-11 4,200 3,500 4,050 340 3,512 13,706 18
Apr-11 4,200 3,800 4,200 138 1,396 5,703 18
May-11 5,050 4,000 4,950 563 5,426 24,255 21
Jun-11 6,050 4,525 5,700 965 10,342 51,121 20
Jul-11 6,650 5,500 6,550 818 11,313 69,776 21
Aug-11 7,000 5,500 6,000 576 3,883 23,607 19
Sep-11 6,000 4,575 6,000 818 3,129 17,510 20
Closing Price*, Jakarta Composite Index (IHSG) and Oct-11 6,400 5,000 6,350 643 22,958 135,661 21
Trade, Sevices and Investment Index Nov-11 7,700 5,500 7,550 1,011 47,075 315,609 22
January 2010 - July 2014 Dec-11 8,200 7,650 7,850 623 8,280 65,741 21
3,010%
2964.5%
Jan-12 9,600 7,850 9,300 712 6,653 57,811 20
2,580% Feb-12 9,400 8,400 8,700 589 8,775 77,400 20
Mar-12 8,900 8,050 8,050 900 16,027 136,459 21
2,150% Apr-12 8,500 7,950 8,500 568 21,942 184,003 20
May-12 9,500 8,000 8,950 1,139 87,104 752,304 21
1,720% Jun-12 10,200 8,500 9,500 627 9,114 82,791 19
Jul-12 11,050 9,450 10,350 1,960 116,666 1,168,577 22
Aug-12 10,500 9,850 9,900 842 10,523 107,052 19
1,290%
Sep-12 11,000 9,850 11,000 1,809 13,824 143,872 20
Oct-12 11,150 1,950 1,950 1,481 20,626 134,399 22
860%
Nov-12 2,375 1,970 2,175 1,712 131,821 278,835 20
Dec-12 2,400 2,100 2,250 1,865 71,973 164,575 18
430%
225.5%
Jan-13 2,500 2,175 2,375 2,844 74,017 168,664 21
- 97.6% Feb-13 2,975 2,150 2,575 7,347 114,123 268,789 20
Mar-13 2,925 2,450 2,775 5,901 158,946 415,150 19
-430% Apr-13 2,950 2,625 2,800 4,171 177,045 482,182 20
Jun-13 2,950 2,250 2,725 8,696 192,983 503,785 19
Jul-13 2,925 2,300 2,675 7,002 124,551 329,380 23
Volume (Million Sh.) 205 123 515 2,475 2,154 Sep-13 2,750 2,300 2,550 7,547 167,051 421,739 21
Value (Billion Rp) 399 744 3,288 6,569 6,751 Oct-13 2,575 2,150 2,350 9,540 196,809 473,590 21
Days 232 232 242 242 137 Dec-13 2,875 2,450 2,625 10,133 252,342 676,768 19
Price (Rupiah) Jan-14 2,750 2,530 2,650 24,535 120,592 313,839 20

High 4,050 8,200 11,150 3,125 3,900 Feb-14 2,805 2,410 2,805 46,992 310,886 785,287 20
Low 610 3,250 1,950 2,150 2,410 Mar-14 3,300 2,700 3,200 60,060 357,086 1,066,820 20
Close 3,550 7,850 2,250 2,625 3,800 Apr-14 3,415 3,000 3,150 45,515 201,924 655,546 20
Close* 710 1,570 2,250 2,625 3,800 May-14 3,415 3,015 3,170 31,337 256,918 813,709 18
Jun-14 3,615 3,100 3,585 30,599 387,714 1,298,374 21
PER (X) 12.87 16.64 24.03 29.66 34.06 Jul-14 3,900 3,250 3,800 41,264 519,179 1,817,851 18
PER Industry (X) 21.27 16.89 19.08 15.43 18.07
PBV (X) 4.59 10.09 10.02 14.19 19.54

Cash & Cash Equivalents 712,212 716,717 927,423 1,043,283 1,209,197 5,000
Receivables 575,046 627,045 721,898 1,014,685 1,600,995

199,946 164,427 222,674 374,639 436,630 4,000
Inventories
Current Assets 1,516,473 1,534,252 1,917,041 2,570,167 3,436,406
3,000
Fixed Assets 361,173 328,681 326,717 724,970 734,051
Other Assets 18,199 17,323 17,729 22,115 22,753
2,000
Total Assets 2,515,567 2,511,222 2,893,172 4,010,166 4,893,828
Growth (%) -0.17% 15.21% 38.61% 22.04% 1,000
Current Liabilities 427,559 971,757 416,149 705,700 1,579,069 -

Long Term Liabilities 601,242 35,194 288,585 515,010 471,376 2010 2011 2012 2013 2014
Total Liabilities 1,028,801 1,006,950 704,733 1,220,709 2,050,445
Growth (%) -2.12% -30.01% 73.22% 67.97%
480,389 483,602 487,500 731,080 731,080 2,789 2,843
Paid up Capital 3,000

2,188
Par Value 250 250 50 50 50
2,400
Retained Earnings 453,446 467,143 1,136,538 184,867 1,794,856

1,800
1,487 1,504
Total Equity 1,486,752 1,504,271 2,188,439 2,789,457 2,843,383
Growth (%) 1.18% 45.48% 27.46% 1.93% 1,200
Total Revenues 1,927,997 2,306,735 2,240,085 3,694,748 2,147,324

Growth (%) 19.64% -2.89% 64.94%
-
Cost of Revenues 1,137,590 1,083,940 1,035,222 1,935,962 1,061,291

Gross Profit 790,407 1,222,795 1,204,863 1,758,786 1,086,033
Expenses (Income) 1,137,590 1,083,940 1,035,222 - -
Operating Profit 790,407 1,222,795 1,204,863 1,758,786 1,086,033 3,695
3,695
Growth (%) 54.70% -1.47% 45.97%

2,941
Other Income (Expenses) -68,711 -19,447 -5,396 5,309 1,273 2,307 2,240 2,147
Income before Tax 721,696 1,203,347 1,199,467 1,764,095 1,087,306 2,187 1,928
Tax 191,569 290,760 286,455 448,139 273,036

1,434
Growth (%) 72.14% 0.05% 40.84%

680
Period Attributable - - 913,013 1,280 815,678 -74
Comprehensive Income 530,127 912,588 913,013 1,285,897 814,270 2010 2011 2012 2013 2014
Comprehensive Attributable - - - 1,280 815,678
Current Ratio (%) 354.68 157.88 460.66 364.20 217.62
1,286
Dividend (Rp) 285.00 160.00 48.00 66.00 - 1,286
EPS (Rp) - - 93.64 0.09 55.79

BV (Rp) 773.72 777.64 224.46 190.78 194.46 1,024
913 913
814
DAR (X) 0.41 0.40 0.24 0.30 0.42
761
DER(X) 0.69 0.67 0.32 0.44 0.72

530
ROA (%) 21.07 36.34 31.56 32.07 16.64 499
ROE (%) 35.66 60.67 41.72 46.10 28.64

GPM (%) 41.00 53.01 53.79 47.60 50.58 237
OPM (%) 41.00 53.01 53.79 47.60 50.58

NPM (%) 27.50 39.56 40.76 34.80 37.92
-26
2010 2011 2012 2013 2014

Payout Ratio (%) 51.26 75,411.53 -
Yield (%) 8.03 2.04 2.13 2.51 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
SMGR
SEMEN INDONESIA (PERSERO) TBK.
Company Profile
PT Semen Indonesia (Persero) Tbk. was established on March 25th, 1953 The Company
commenced commercial operations on August 7, 1957. The Company's controlling
shareholder is the Government of the Republic of Indonesia.
The scope of activities of the Company in accordance with the Articles of Association and
being carried out during the reporting period is to engage in the cement industry. The
Company’s and its subsidiaries’ cement plants are located in Gresik and Tuban in East Java,
Indarung in West Sumatera, Pangkep in South Sulawesi and Quang Ninh in Vietnam. The
Group' products are marketed domestically and internationally.
As of June 30th, 2014, the Company and its subsidiaries had 6,903 employees.
The subsidiaries of the company are established as Strategic Tools, in order to give the
maximum contributions. In addition, their existence is expected to incur beneficial synergy
in order to achieve the purpose in accordance with the stipulated core business. Below are
the subsidiaries of the company:
• PT Semen Padang, • PT SGG Energi Prima,
• PT Sepatim Batamtama, • PT SGG Prima Beton,
• PT Bima Sepaja Abadi, • PT Krakatau Semen Indonesia,
• PT Semen Tonasa, • Thang Long Cement Joint Stock Company,
• PT Semen Gresik, • Thang Long Cement Joint Stock Company 2,
• PT United Tractors Semen Gresik, • An Phu Cement Joint Stock Company.
• PT Industri Kemasan Semen Gresik,
• PT Kawasan Industri Gresik,
This 2014 Indonesian Cement obtain an award given by the Economic News media through
the "Living Legend Company & Everlasting Brand Award 2014". This award is a token of
appreciation for businesses both SOEs and private companies that have existed for more
than 50 years and has a good performance. Assessment of these companies is done not
only in terms of age and performance, but also innovation and strategy in the face of crisis.
August 2014
Disclaimer:

SMGR Semen Indonesia (Persero) Tbk. [S]
Industry Sub Sector : Cement (31) Market Capitalization : 98,314,944,000,000
10 | 98.3T | 1.95% | 44.71%
7 | 22.8T | 2.70% | 33.15%

Established Date : 25-Mar-1953 1. Pemerintah RI QQ Menteri Keuangan RI 3,025,406,000 : 51.01%
Under Writer IPO :
PT Buanamas Investindo
PT Ficorinvest DIVIDEND ANNOUNCEMENT
PT Indovest Securities Bonus Cash Recording Payment
F/I
PT Merchant Investment Corporation Year Shares Dividend Cum Date Ex Date Date Date
PT Multicor 1991 284.70 12-Jun-92 15-Jun-92 22-Jun-92 13-Jul-92 F
PT Nikko Securities Indonesia 1992 267.75 14-Jun-93 15-Jun-93 24-Jun-93 22-Jul-93 F
PT Nomura Indonesia 1993 164.18 13-Jul-94 14-Jul-94 21-Jul-94 19-Aug-94 F
PT Primarindo Daya Investama 1994 184.51 03-Jul-95 04-Jul-95 12-Jul-95 11-Aug-95 F
1995 109.62 11-Jul-96 12-Jul-96 22-Jul-96 20-Aug-96 F
PT Datindo Entrycom 1997 156.82 09-Jul-98 10-Jul-98 20-Jul-98 18-Aug-98 F
Puri Datindo - Wisma Sudirman 1998 135.06 13-Jul-99 14-Jul-99 22-Jul-99 20-Aug-99 F
2002 115.03 18-Jul-03 21-Jul-03 23-Jul-03 06-Aug-03 F
1. Mahendra Siregar 2003 112.73 22-Dec-04 23-Dec-04 28-Dec-04 07-Jan-05 F
2. Achmad Jazidie 2004 39.67 05-Jan-05 06-Jan-05 10-Jan-05 18-Jan-05 I
3. Farid Prawiranegara *) 2005 267.51 18-Jul-05 19-Jul-05 21-Jul-05 01-Aug-05
4. Hadi Waluyo *) 2005 443.12 21-Jul-06 24-Jul-06 26-Jul-06 09-Aug-06 F
5. Marwanto Harjowiryono 2006 1,092.06 19-Jul-07 20-Jul-07 24-Jul-07 07-Aug-07 F
6. Muchammad Zaidun *) 2007 149.66 29-May-08 30-May-08 03-Jun-08 17-Jun-08 F
7. Wahyu Hidayat 2008 215.19 21-Jul-09 22-Jul-09 24-Jul-09 07-Aug-09 F
*) Independent Commissioners 2009 58.00 07-Dec-09 08-Dec-09 10-Dec-09 23-Dec-09 I
2009 250.45 19-Jul-10 20-Jul-10 22-Jul-10 05-Aug-10 F
BOARD OF DIRECTORS 2010 58.00 27-Dec-10 28-Dec-10 30-Dec-10 04-Jan-11 I
1. Dwi Soetjipto 2010 248.26 27-Jul-11 28-Jul-11 01-Aug-11 15-Aug-11 F
2. Ahyanizzaman 2011 330.89 17-Jul-12 18-Jul-12 20-Jul-12 03-Aug-12 F
3. Amat Pria Darma 2012 367.74 29-May-13 30-May-13 03-Jun-13 17-Jun-13 F
4. Gatot Kustyadji 2013 407.42 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
5. Johan Samudra
6. Suharto
7. Suparni ISSUED HISTORY
Listing Trading
AUDIT COMMITTEE No. Type of Listing Shares Date Date
1. Hadi Waluyo 1. First Issue 40,000,000 08-Jul-91 08-Jul-91
2. Achmad Jazidie 2. Partial Listing 30,000,000 08-Jul-91 17-May-92
3. Sahat Pardede 3. Company Listing 78,288,000 02-Jun-95 02-Jun-95
4. Elok Tresnaningsih 4. Right Issue 444,864,000 10-Aug-95 10-Aug-95
5. Farid Prawiranegara 5. Stock Split 5,338,368,000 07-Aug-07 07-Aug-07
CORPORATE SECRETARY
Agung Wiharto
HEAD OFFICE
Semen Gresik Main Building Homepage : www.semengresik.com
Jln. Veteran Email : corp.sec@sg.sggrp.com
Gresik - 61122 agungw@sg.sggrp.com
Phone : (021) 526-1174 - 5, (031) 398-1731 - 2
Fax : (021) 526-1176, (031) 398-3209

TRADING ACTIVITIES
Semen Indonesia (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
20,000 1,600 Jan-10 8,200 7,500 8,000 10,064 111,316 870,993 20
Feb-10 8,000 7,250 7,600 7,426 81,985 632,276 19
17,500 1,400 Mar-10 7,850 7,250 7,300 15,012 1,601,261 11,320,197 22
Apr-10 8,400 7,350 8,200 16,173 409,399 3,278,726 21
May-10 9,000 7,600 8,450 15,936 283,946 2,315,387 19
15,000 1,200
Jun-10 9,050 7,950 8,750 13,285 259,682 2,094,264 22
Jul-10 9,500 8,650 9,250 15,790 197,904 1,806,849 22
12,500 1,000
Aug-10 9,250 8,400 8,700 18,106 190,450 1,666,454 21
Sep-10 9,950 8,650 9,900 14,416 204,039 1,896,038 17
10,000 800
Oct-10 10,350 9,600 9,800 11,602 215,362 2,130,346 21
Nov-10 9,900 9,050 9,200 18,320 257,910 2,436,413 21
7,500 600 Dec-10 9,900 9,050 9,450 16,043 163,526 1,547,425 20
5,000 400 Jan-11 10,000 7,250 7,750 28,860 279,407 2,371,780 21

Feb-11 8,850 7,800 8,650 16,970 157,200 1,307,341 18
2,500 200 Mar-11 9,350 8,250 9,100 21,543 169,216 1,488,654 23
Apr-11 9,800 9,100 9,500 13,301 120,939 1,153,198 20
May-11 9,800 9,200 9,700 13,524 144,637 1,378,004 21
Jun-11 9,750 9,150 9,600 14,410 128,580 1,218,512 20
Jul-11 10,000 9,350 9,450 13,494 241,451 2,367,029 21
Aug-11 9,650 8,400 9,100 22,705 206,839 1,864,386 19
Sep-11 9,450 7,400 8,300 23,699 145,732 1,234,343 20
Basic Industry and Chemicals Index Nov-11 9,550 8,650 9,250 18,215 129,289 1,181,110 22
January 2010 - July 2014 Dec-11 11,450 9,300 11,450 21,806 195,126 2,008,194 21
175%
Jan-12 12,950 10,750 11,300 31,022 210,657 2,414,273 21
150% Feb-12 11,700 10,400 11,250 29,475 290,757 3,283,417 21
Mar-12 12,650 11,050 12,250 23,712 156,721 1,871,958 21
125% Apr-12 12,650 11,600 12,150 17,193 134,207 1,629,480 20
118.1% May-12 12,400 10,400 10,950 23,702 217,770 2,436,384 21
100% 100.5% Jun-12 11,650 9,900 11,300 24,678 150,083 1,665,904 21
97.6% Jul-12 13,600 11,250 12,950 25,606 178,845 2,139,748 22
Aug-12 13,500 11,700 12,400 24,809 148,524 1,869,739 19
75%
Sep-12 14,550 12,100 14,450 22,738 153,409 2,076,999 20
Oct-12 15,300 14,000 14,900 20,580 167,042 2,442,691 22
50%
Nov-12 15,300 14,200 14,800 19,316 158,215 2,325,714 20
Dec-12 16,950 14,400 15,850 33,063 183,180 2,785,728 18
25%
Jan-13 16,500 14,800 15,750 36,762 178,167 2,774,872 21

- Feb-13 17,350 15,650 17,350 25,757 127,417 2,087,807 20
Mar-13 19,050 16,750 17,700 33,701 163,665 2,914,490 19
-25% Apr-13 19,000 17,550 18,400 30,277 174,546 3,160,011 22
Jun-13 18,100 15,100 17,100 62,937 338,786 5,634,798 19
Jul-13 17,350 14,500 15,200 56,573 251,155 3,838,600 23
Days 245 247 246 244 137 Dec-13 14,250 12,550 14,150 26,707 183,705 2,448,156 19
Price (Rupiah) Jan-14 15,900 13,775 14,200 55,849 192,064 2,808,267 20

High 10,350 11,450 16,950 19,150 17,400 Feb-14 15,275 13,500 15,000 52,652 170,519 2,515,811 20
Low 7,250 7,250 9,900 11,350 13,500 Mar-14 17,400 14,600 15,800 61,774 237,643 3,743,636 20
Close 9,450 11,450 15,850 14,150 16,575 Apr-14 17,050 14,800 14,850 69,330 235,917 3,757,029 20
Close* 9,450 11,450 15,850 14,150 16,575 May-14 16,050 14,175 14,725 66,131 273,242 4,131,554 18
Jun-14 15,475 14,700 15,075 53,891 171,469 2,598,357 21
PER (X) 15.43 17.15 19.09 16.11 17.40 Jul-14 17,150 14,950 16,575 58,210 200,012 3,265,081 18
PER Industry (X) 12.86 10.41 9.79 17.44 11.72
PBV (X) 4.67 4.65 5.18 4.24 4.43

Receivables 1,764,284 1,864,177 2,522,529 2,916,062 3,393,018

1,624,219 2,006,660 22,849,053 2,645,893 2,791,694 25,000
Inventories
Current Assets 734,360 7,646,145 8,231,297 9,972,110 9,127,247
18,750
Fixed Assets 7,662,560 11,640,692 16,794,115 18,862,518 19,413,356
Other Assets 17,202 18,029 54,223 224,136 270,152
12,500
Total Assets 15,562,999 19,661,603 26,579,084 30,792,884 30,759,884
Growth (%) 26.34% 35.18% 15.85% -0.11% 6,250

Growth (%) 47.42% 66.73% 6.83% -4.78%
21,804
Paid up Capital 593,152 593,152 593,152 593,152 593,152 22,200
Par Value 100 100 100 100 100

17,672
14,615
13,143
Total Equity 12,006,439 14,615,097 18,164,855 21,803,976 22,200,483

Growth (%) 21.73% 24.29% 20.03% 1.82% 8,614
Total Revenues 14,344,189 16,378,794 19,598,248 24,501,241 12,885,495

Growth (%) 14.18% 19.66% 25.02%
-444
2010 2011 2012 2013 Jun-14
Cost of Revenues 7,534,079 8,891,868 10,300,667 13,557,147 7,122,304

Gross Profit 6,810,110 7,486,926 9,297,581 10,944,094 5,763,191
Expenses (Income) 2,321,085 2,594,794 3,116,058 4,023,694 2,154,043
Operating Profit 4,489,025 4,892,131 6,181,524 - - 24,501
24,501
Growth (%) 8.98% 26.36% N/A

19,598
19,503
16,379
Other Income (Expenses) 224,358 197,821 105,931 - -
14,344
Tax 1,063,509 1,134,680 1,360,814 1,566,101 774,271

9,506
Growth (%) 8.09% 24.56% 8.68%

4,508
Current Ratio (%) 29.17 264.65 170.59 188.24 175.23
5,354
Dividend (Rp) 306.26 330.89 367.74 407.42 - 5,354
4,927
EPS (Rp) 612.53 661.79 817.20 905.37 476.42
3,955
BV (Rp) 2,024.18 2,463.97 3,062.43 3,675.95 3,742.80 4,262
3,659
DAR (X) 0.22 0.26 0.32 0.29 0.28
3,170
2,835
DER(X) 0.29 0.35 0.46 0.41 0.39
ROA (%) 23.51 20.12 18.54 17.39 9.22 2,077
ROE (%) 30.48 27.06 27.12 24.56 12.77

GPM (%) 47.48 45.71 47.44 44.67 44.73 985
OPM (%) 31.30 29.87 31.54 - -

NPM (%) 25.51 24.15 25.14 21.85 22.00
-107
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 50.00 50.00 45.00 45.00 -
Yield (%) 3.24 2.89 2.32 2.88 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
SMRA
SUMMARECON AGUNG TBK.
Company Profile
PT Summarecon Agung Tbk. was founded in 1975 to undertake real estate construction
and development. Over the years, Summarecon has built a reputation as one of the leading
property players in Indonesia, especially in the development of townships which integrates
residential developments with commercial developments that are supported with a wide
and complete range of amenities for the residents of the townships.
Summarecon's business units are now grouped into three distinct activities :
1. Property Development
Property Development is Summarecon's core business. This business unit develops
property products for sale such as residential house, apartment, landplots and commercial
shoplots. These property projects are integral to the development of a township's
residential and commercial development and include supporting facilities such as
education facilities, sports and recreation, places of worship and healthcare facilities.
Currently, Summarecon is developing 3 (three) townships namely Summarecon Kelapa
Gading, Summarecon Serpong, and Summarecon Bekasi.
2. Property Investment and Management
This business unit develops properties which are retained and leased out, particularly retail
shopping malls. The revenue stream from shopping malls and other rental properties
provide stable and consistent recurring incomes to the company. In each township
development is an area designated as a central business district wherein a shopping mall
will provide for full range of facilities that meets the needs of modern society. Currently
company owns 380,000 m2 of retail space located in Sentra Kelapa Gading, Sentra Gading
Serpong and Sentra Summarecon Bekasi.
3. Leisure, Hospitality and Others
Summarecon is also developing other properties including offices which are intended for
own corporate use, hotels and residential buildings to further support facilities in its
township.
To ensure the availabilty of ready-to-develop land, company has been continuously
acquiring land for potential future developments in existing locations and in any new
strategic/potential locations. Our current available landbank are more than 1,500 ha
(existing and new location). Company also strengthening the business portfolio by
developing the investment properties, leisure and hospitality that will provide a consistent
stream of recurring revenues.
August 2014
Disclaimer:

SMRA Summarecon Agung Tbk. [S]
45 | 19.5T | 0.39% | 72.86%
53 | 4.14T | 0.49% | 80.05%

Established Date : 26-Nov-1975 1. MEL BK NA S/A Stichting Dep Ap 810,000,000 : 5.00%
Listing Date : 07-May-1990 2. PT Sinarmegah Jayasentosa 942,080,224 : 6.00%
Under Writer IPO : 3. PT Semarop Agung 1,855,985,872 : 12.00%
PT Danareksa Sekuritas 4. PT Semarop Agung 1,812,802,632 : 12.00%
PT Multicor 5. Public (<5%) 9,005,912,952 : 65.00%
PT Sirca Datapro Perdana DIVIDEND ANNOUNCEMENT
Wisma Sirca Bonus Cash Recording Payment
F/I
Jln. Johar No.18, Menteng, Jakarta 10340 Year Shares Dividend Cum Date Ex Date Date Date
Phone : (021) 314-0032, 390-5920, 390-0645 1990 194.00 31-May-91 03-Jun-91 10-Jun-91 25-Jul-91 F
Fax : (021) 390-0671, 390-0652 1991 142.00 16-Jul-92 17-Jul-92 24-Jul-92 24-Aug-92 F
1992 60.00 13-Jul-93 14-Jul-93 21-Jul-93 31-Jul-93 F
1. Soetjipto Nagaria 1993 2:1 16-Feb-94 17-Feb-94 24-Feb-94 23-Mar-94 B
2. Edi Darnadi *) 1993 50 : 3 62.00 22-Jul-94 25-Jul-94 01-Aug-94 01-Sep-94 F
3. Esther Melyani Homan *) 1994 2:1 125.00 15-Dec-94 16-Dec-94 23-Dec-94 16-Jan-95 I
4. Harto Djojo Nagaria 1994 89.00 21-Jul-95 24-Jul-95 01-Aug-95 30-Aug-95 F
*) Independent Commissioners 1995 100 : 4 20.00 09-Jul-96 10-Jul-96 18-Jul-96 16-Aug-96 F
1996 11.00 28-Jul-97 29-Jul-97 06-Aug-97 04-Sep-97 F
BOARD OF DIRECTORS 1996 100 : 3 28-Jul-97 29-Jul-97 06-Aug-97 04-Sep-97 S
1. Johanes Mardjuki 2000 25.00 24-Jul-01 25-Jul-01 01-Aug-01 20-Aug-01 F
2. Adrianto Pitoyo Adhi 2001 30.00 15-Jul-02 16-Jul-02 19-Jul-02 02-Aug-02 F
3. G.E. Lilies Yamin 2001 10 : 1 15-Jul-02 16-Jul-02 19-Jul-02 02-Aug-02 F
4. Herman Nagaria 2002 10.00 15-Jul-03 16-Jul-03 18-Jul-03 21-Jul-03 F
5. Lexy Arie Tumiwa 2003 15.00 16-Jul-04 19-Jul-04 21-Jul-04 04-Aug-04 F
6. Liliawati Rahardjo 2005 18.00 18-Jul-05 19-Jul-05 20-Jul-05 03-Aug-05
7. Sharif Benyamin 2005 15.00 13-Jul-06 14-Jul-06 18-Jul-06 01-Aug-06 F
8. Soegianto Nagaria 2005 5:2 13-Jul-06 14-Jul-06 18-Jul-06 01-Aug-06 S
9. Yong King Ching 2006 13.00 08-Jun-07 11-Jun-07 13-Jun-07 27-Jun-07 I
2007 11.00 21-May-08 22-May-08 26-May-08 09-Jun-08 F
AUDIT COMMITTEE 2008 3.00 30-Jun-09 01-Jul-09 03-Jul-09 17-Jul-09 F
1. Edi Darnadi 2009 8.00 27-May-10 31-May-10 02-Jun-10 15-Jun-10 F
2. Neneng Martini 2010 10.00 28-Jun-11 30-Jun-11 04-Jul-11 18-Jul-11 I
3. Poespita Pelangiwati 2011 23.00 27-Jun-12 28-Jun-12 02-Jul-12 16-Jul-12 F
2012 1:1 43.00 26-Jun-13 27-Jun-13 01-Jul-13 15-Jul-13 B
CORPORATE SECRETARY 2013 23.00 10-Jul-14 11-Jul-14 15-Jul-14 05-Aug-14 F
Michael Yong
HEAD OFFICE ISSUED HISTORY

Jln. Perintis Kemerdekaan No. 42 Listing Trading
Jakarta Timur No. Type of Listing Shares Date Date
Phone : (021) 489-2107, 471-4567 1. First Issue 6,667,000 07-May-90 07-May-90
Fax : (021) 489-2976, 471-4486 2. Partial Listing 16,666,700 26-Jan-94 26-Jan-94
3. Bonus Shares 11,282,833,556 T: 24-Mar-94 : 15-Jul-13
Homepage : www.summarecon.com 4. Stock Dividend 6,000,000 12-Sep-94 12-Sep-94
Email : corp_secretary@summarecon.com 5. Company Listing 64,999,300 17-Jan-95 17-Jan-95
6. Stock Dividen 50,345,760 T: 19-Aug-96 : 02-Aug-02
7. Stock Split 1,664,183,040 T: 11-Nov-96 : 12-Aug-02
8. Additional Listing without RI 433,926,000 T: 17-Nov-05 : 23-Oct-12
9. Right Issue 459,014,453 25-Jul-07 25-Jul-07
10. Warrant 442,145,871 T: 17-Jan-08 : 25-Jun-10

TRADING ACTIVITIES
Summarecon Agung Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
1,600 480 Jan-10 740 570 700 6,799 290,277 184,496 20
Feb-10 780 670 720 6,898 421,299 302,291 19
1,400 420 Mar-10 920 710 830 6,971 542,063 434,516 22
Apr-10 1,000 810 980 6,857 331,459 295,915 21
May-10 980 660 770 6,680 328,801 264,883 19
1,200 360
Jun-10 910 720 850 4,705 177,286 145,180 22
Jul-10 940 830 930 5,792 167,612 147,815 22
1,000 300
Aug-10 1,010 880 920 7,642 288,743 273,762 21
Sep-10 1,110 910 1,100 6,823 241,472 241,376 17
800 240
Oct-10 1,220 1,030 1,130 8,480 265,979 300,409 21
Nov-10 1,300 1,100 1,160 5,199 147,191 175,310 21
600 180 Dec-10 1,190 1,050 1,090 12,986 308,764 342,132 20
400 120 Jan-11 1,110 850 870 12,964 350,348 346,724 21

Feb-11 1,030 840 1,000 6,850 215,422 198,509 18
200 60 Mar-11 1,160 940 1,160 5,439 127,664 132,585 23
Apr-11 1,260 1,090 1,260 3,639 58,216 68,404 20
May-11 1,270 1,080 1,140 6,300 135,128 152,632 21
Jun-11 1,200 1,080 1,140 4,541 104,888 120,504 20
Jul-11 1,320 1,080 1,280 9,010 262,445 312,928 21
Aug-11 1,310 1,020 1,210 6,023 147,933 180,703 19
Sep-11 1,310 920 1,000 6,699 149,317 173,964 20
Closing Price*, Jakarta Composite Index (IHSG) and Oct-11 1,170 870 1,170 5,327 125,832 125,755 21
Property, Real Estate and Bulding Construction Index Nov-11 1,200 990 1,060 2,210 86,134 96,826 22
January 2010 - July 2014 Dec-11 1,250 1,030 1,240 4,877 74,454 86,936 21
455%
Jan-12 1,400 1,170 1,200 6,429 134,454 169,578 21
390% Feb-12 1,320 1,100 1,290 7,872 229,937 286,861 21
373.7%
Mar-12 1,610 1,250 1,570 9,064 274,582 391,369 21
325% Apr-12 1,870 1,570 1,730 17,128 854,547 1,410,931 20
May-12 1,830 1,420 1,420 12,631 270,187 441,513 21
260% Jun-12 1,620 1,370 1,620 7,451 150,482 226,314 21
Jul-12 1,700 1,530 1,620 7,648 137,647 221,865 22
213.8% Aug-12 1,660 1,380 1,470 7,030 113,212 178,266 19
195%
Sep-12 1,690 1,470 1,680 7,395 122,714 195,074 20
Oct-12 1,750 1,610 1,750 5,768 222,532 373,493 22
130%
Nov-12 2,000 1,730 1,920 9,139 188,716 349,843 20
97.6% Dec-12 2,100 1,820 1,900 11,641 180,261 349,136 18
65%
Jan-13 1,950 1,710 1,890 17,801 305,075 560,276 21

- Feb-13 2,500 1,860 2,325 15,874 289,483 603,334 20
Mar-13 2,525 2,150 2,475 11,644 264,854 626,267 19
-65% Apr-13 2,675 2,150 2,600 14,632 373,884 882,856 22
Jun-13 2,825 1,150 1,290 25,478 422,548 991,867 19
Jul-13 1,320 940 1,000 35,902 1,100,648 1,152,747 23
Volume (Million Sh.) 3,511 1,838 2,879 6,799 3,734 Sep-13 1,050 690 930 29,817 1,024,278 909,108 21
Value (Billion Rp) 3,108 1,996 4,594 9,117 4,136 Oct-13 1,140 880 1,050 30,037 896,981 898,351 21
Days 245 247 246 244 137 Dec-13 960 750 780 14,769 369,297 319,726 19
Price (Rupiah) Jan-14 980 745 955 27,739 484,736 434,071 20

High 1,300 1,320 2,100 3,050 1,405 Feb-14 1,085 910 1,005 32,185 680,056 676,697 20
Low 570 840 1,100 660 745 Mar-14 1,180 980 1,065 27,115 528,787 573,389 20
Close 1,090 1,240 1,900 780 1,350 Apr-14 1,150 940 1,110 26,857 587,245 633,586 20
Close* 545 620 950 780 1,350 May-14 1,305 1,080 1,255 19,968 420,392 515,282 18
Jun-14 1,270 1,090 1,135 21,300 275,513 325,634 21
PER (X) 32.09 21.93 17.30 9.59 17.96 Jul-14 1,405 1,095 1,350 41,560 757,675 977,499 18
PER Industry (X) 9.97 11.09 17.34 17.79 19.77
PBV (X) 3.50 3.44 3.59 2.57 3.82

Receivables 216,974 82,776 138,931 275,967 203,105

1,308,433 2,741,082 2,819,764 3,058,266 3,139,931 12,000
Inventories
Investment 1,282,418 1,929,125 3,699 284,282 6,354,604
9,000
Fixed Assets 379,106 304,427 282,418 351,832 376,848
Other Assets 118,369 254,769 - 67,756 83,250
6,000
Total Assets 6,139,640 8,099,175 10,876,387 13,659,137 14,173,936
Growth (%) 31.92% 34.29% 25.59% 3.77% 3,000
Bank Payable - 841,780 822,823 1,911,032 2,221,506 -

Trade Payable 181,665 246,765 184,225 63,235 57,682 2010 2011 2012 2013 2014
Growth (%) 41.18% 25.59% 27.48% 0.81%
Paid up Capital 687,314 687,314 721,339 1,442,678 1,442,678 5,100
4,658
3,815
Par Value 100 100 100 100 100
4,080

3,060
Total Equity 2,139,887 2,477,100 3,815,400 4,657,667 5,099,148 2,477

2,140
Growth (%) 15.76% 54.03% 22.08% 9.48% 2,040
Total Revenues 1,695,444 2,359,331 3,463,163 4,093,789 1,976,547

Growth (%) 39.16% 46.79% 18.21%
-
Cost of Revenues 947,778 1,312,185 1,871,176 1,943,287 987,634

Gross Profit 747,666 1,047,145 1,591,987 2,150,503 988,913
Operating Profit 377,659 564,475 1,010,901 1,347,138 696,553 4,094
4,094
Growth (%) 49.47% 79.09% 33.26% 3,463

3,259

2,359
Income before Tax 343,911 530,916 986,395 1,319,425 652,369 2,424
1,977
Tax 109,574 142,209 194,309 223,537 113,121 1,695

1,588
Growth (%) 65.88% 103.77% 38.35%

753
Comprehensive Income 234,337 388,707 792,086 1,095,888 539,248 2010 2011 2012 2013 2014
Comprehensive Attributable 233,478 392,019 787,814 1,102,177 539,248
Dividend (Rp) 10.00 23.00 43.00 23.00 -
1,096
EPS (Rp) 33.97 57.04 110.60 76.40 37.38 1,096
BV (Rp) 311.34 360.40 528.93 322.85 353.45

792
DAR (X) 0.65 0.69 0.65 0.66 0.64 872
DER(X) 1.86 2.27 1.85 1.93 1.78

649
539
ROA (%) 3.82 4.80 7.28 8.02 3.80
ROE (%) 10.95 15.69 20.76 23.53 10.58 389
425
GPM (%) 44.10 44.38 45.97 52.53 50.03 234

OPM (%) 22.27 23.93 29.19 32.91 35.24 202
NPM (%) 13.82 16.48 22.87 26.77 27.28

Payout Ratio (%) 29.44 40.33 38.88 30.11 -
-22
2010 2011 2012 2013 2014

Yield (%) 0.92 1.85 2.26 2.95 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
TAXI
EXPRESS TRANSINDO UTAMA TBK.
Company Profile
In just over two decades of history marked with steady growth, Express Group has grown
into one of the leading land transportation company in Indonesia. Commercially started its
operational activities in April 1989 as a subsidiary company of Rajawali Corpora, we are now
one of the largest taxi operator in Indonesia, providing taxi services and value added
transportation business (VATB) services. With more than 11,000 operating taxi fleets and
fully supported by more than 24,000 qualified drivers, we are ready to service our customer
with high quality services.
Express Group's services consist of :
1. Regular Taxi
Regular taxi service is currently operating more than 11,000 taxi fleets, also easy to book
through 24-hour Call Center and mobile application system for booking order. In addition to
being perceived well as the value-for-money taxi services that offers comfort and peace of
mind, Express Group's service philosophy is also perceived to exceed customers’
expectation. All of Express Group's front liners, including drivers, dispatchers and Call Center
staff; will provide friendly and helpful services in timely manner as well as the safety of our
customer as our main priority. Features in Regular Taxi consist of :
DDS machine
Light blue colored driver’s uniform with the Express Group logo
Micro payment devices for payment non cash: Customer can use either cash or non-
cash (BCA Flazz or Express Card) for the payment.
2. Premium Taxi
Noticing a growing demand for premium taxi services especially in the cosmopolitan Greater
Jakarta Area, whereas premium taxi fleets are available only in limited numbers of luxury
sedans. Express Group took the opportunity to offer an innovative premium taxi services
with great entertainment systems. Launched in 2008 under the brand name Tiara Express,
we opted for MPV instead of sedan. Through an associated company, Express Group utilize
the luxurious and comfortable Toyota Alphard 2.4L and Viano Mercedez Benz 2.4L to carter
for more passengers with different needs.
3. Value Added Transportation Business (VATB)
Express Group's services in VATB including Limousine and Bus services. Express Group also
serve high profile customers with high class limousine. Limousine services are located in the
airport and numerous 5-star hotels and resorts in Jakarta, Bandung, Bali and Lombok.
Through a subsidiary company and an associated company, Express Group also develop the
Bus services with Brand "Eagle High" which provide medium and Big Bus. The seating
capacities are from 25 up to 59.
August 2014
Disclaimer:

TAXI Express Transindo Utama Tbk. [S]
Industry Sub Sector : Transportation (74) Market Capitalization : 2,928,744,000,000
191 | 2.93T | 0.06% | 95.35%
64 | 3.00T | 0.35% | 84.48%

Established Date : 11-Jun-1981 1. PT Rajawali Corpora 1,094,310,000 : 51.00%
Under Writer IPO :
F/I
PT Adimitra Transferindo Year Shares Dividend Cum Date Ex Date Date Date
Plaza Property 2nd Fl. Komp. Pertokoan Pulomas Blok VIII No. 1 2012 10.00 29-Jul-13 30-Jul-13 01-Aug-13 22-Aug-13 F
Jln. Perintis Kemerdekaan Jakarta 13210 2013 12.00 05-Aug-14 06-Aug-14 08-Aug-14 22-Aug-14 F
Phone : (021) 478-81515 (Hunting)
Fax : (021) 470-9697 ISSUED HISTORY
Listing Trading
BOARD OF COMMISSIONERS No. Type of Listing Shares Date Date
1. Stephen K. Sulistyo 1. First Issue 1,051,280,000 02-Nov-12 02-Nov-12
2. Darjoto Setyawan 2. Company Listing 1,094,320,000 02-Nov-12 02-Nov-12
3. Paul Capelle *)
4. S.Y. Wenas *)
5. Tan Tjoe Liang
BOARD OF DIRECTORS
1. Daniel Podiman
2. David Santoso
3. Herwan Gozali
4. Shafruhan Sinungan
AUDIT COMMITTEE
1. S.Y. Wenas
2. Fastabiqul K. Algatot
3. Paul Capelle
CORPORATE SECRETARY
Merry Anggraini
HEAD OFFICE
Express Building
Jln. Sukarjo Wiryopranoto No. 11
Jakarta - 11160
Phone : (021) 265-07000
Fax : (021) 265-07008
Homepage : www.expressgroup.co.id
Email : investor.relation@expressgroup.co.id

TRADING ACTIVITIES
Express Transindo Utama Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
Price* November 2012 - July 2014 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
2,000 480 Nov-12 920 570 850 22,048 1,910,695 1,315,228 19
Dec-12 900 820 870 6,388 404,340 348,470 18
1,750 420
Jan-13 890 750 860 6,918 550,106 460,312 21
Feb-13 880 800 830 7,811 678,819 572,408 20
1,500 360
Mar-13 1,020 800 1,000 9,931 896,050 805,809 19
Apr-13 1,330 990 1,310 13,196 1,163,294 1,368,627 22
1,250 300
May-13 1,620 1,240 1,540 18,301 1,127,154 1,492,879 22
Jun-13 1,610 1,210 1,350 15,121 817,693 1,120,654 19
1,000 240
Jul-13 1,610 1,270 1,580 10,949 771,180 1,115,113 23
Aug-13 1,790 1,060 1,410 18,186 693,280 1,029,433 17
750 180 Sep-13 1,950 1,190 1,500 16,184 542,901 818,004 21
Oct-13 1,770 1,500 1,500 17,464 408,967 672,344 21
500 120 Nov-13 1,660 1,330 1,570 18,534 449,805 679,088 20
Dec-13 1,580 1,390 1,460 8,772 235,293 355,814 19
250 60
Jan-14 1,770 1,410 1,760 8,744 199,585 323,178 20
Feb-14 1,810 1,545 1,560 13,285 187,031 315,824 20
Mar-14 1,670 1,380 1,455 27,580 363,998 563,582 20
Nov-12 May-13 Nov-13 May-14
Apr-14 1,550 1,250 1,295 23,886 383,660 529,896 20
May-14 1,370 1,265 1,355 14,115 256,395 336,550 18
Jun-14 1,400 1,115 1,270 21,002 416,142 523,777 21
Closing Price*, Jakarta Composite Index (IHSG) and Jul-14 1,390 1,160 1,365 16,009 324,371 406,640 18
Infrastructure, Utilities and Transportation Index
November 2012 - July 2014
245%
210%
175%
140%
131.4%
105%
70%
35%
23.0%
17.3%
-
-35%
Nov 12 May 13 Nov 13 May 14
SHARES TRADED 2012 2013 Jul-14

Volume (Million Sh.) 2,315 8,335 2,131
Value (Billion Rp) 1,664 10,490 2,999
Frequency (Thou. X) 28 161 125
Days 37 244 137
Price (Rupiah)
High 920 1,950 1,810
Low 570 750 1,115
Close 870 1,460 1,365
Close* 870 1,460 1,365
PER (X) 23.28 24.75 18.55

PER Industry (X) 17.53 18.40 13.96
PBV (X) 2.72 4.09 3.34

Cash & Cash Equivalents 149,732 315,528 1,048,241 3,000
Receivables 74,342 143,887 240,361

11,259 13,518 11,500 2,400
Inventories
Current Assets 543,098 596,730 1,406,576
1,800
Fixed Assets 1,162,216 1,393,331 1,395,370
Other Assets 5,044 3,903 7,354
1,200
Total Assets 1,782,788 2,137,040 2,955,282
Growth (%) 19.87% 38.29% 600
Current Liabilities 373,180 575,015 419,176 -

Long Term Liabilities 722,783 764,874 1,659,852 2012 2013 Jun-14
Total Liabilities 1,095,963 1,339,888 2,079,028
Growth (%) 22.26% 55.16%
Authorized Capital 540,000 540,000 540,000 876
Paid up Capital 214,560 214,560 214,560 876
797
Paid up Capital (Shares) 2,146 2,146 2,146 687
Par Value 100 100 100
697
Retained Earnings 150,208 261,175 340,136

519
Total Equity 686,825 797,152 876,255

Growth (%) 16.06% 9.92% 340
Total Revenues 520,863 686,917 408,977

Growth (%) 31.88%
-18
2012 2013 Jun-14
Cost of Revenues 337,327 466,438 272,672

Gross Profit 183,536 220,479 136,306
Expenses (Income) 76,586 46,525 32,413
Operating Profit - - - 687
Growth (%)
687
547
521
Other Income (Expenses) - - - 409

Income before Tax 106,949 173,954 103,892 407
Tax -27,588 41,343 24,790

Profit for the period 79,362 132,611 79,103 267
Growth (%) 67.10%

126
Period Attributable 79,159 132,423 78,961 -14
Comprehensive Income 80,189 131,783 79,103 2012 2013 Jun-14

Comprehensive Attributable 79,987 131,596 78,961
Current Ratio (%) 145.53 103.78 335.56
133
Dividend (Rp) 10.00 12.00 - 133
EPS (Rp) 36.89 61.72 36.80

BV (Rp) 320.11 371.53 408.40 106
DAR (X) 0.61 0.63 0.70 79 79
1.60 1.68 2.37

79
DER(X)
ROA (%) 4.45 6.21 2.68 51
ROE (%) 11.55 16.64 9.03

GPM (%) 35.24 32.10 33.33 24
OPM (%) - - -
NPM (%) 15.24 19.31 19.34
-3
2012 2013 Jun-14

Payout Ratio (%) 27.10 19.44 -
Yield (%) 1.15 0.82 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
TBIG
TOWER BERSAMA INFRASTRUCTURE TBK.
Company Profile
PT Tower Bersama Infrastructure Tbk. (TBIG) was established dated 8 November 2004. TBIG
is a provider of telecommunications infrastructure for the placement of BTS by
telecommunications operators in Indonesia. TBIG is publicly listed on the Indonesian Stock
Exchange and is majority owned by Saratoga Capital and Provident Capital.
The business activities of the Company, among others are to carry on the business of
telecommunications support services including lease and maintenance of Base Transceiver
Station (BTS), consultation service and conducting investment or participation to other
companies. The Company started its business activities in 2004. Currently, the Company's
main activity is investing in subsidiaries
As one of the leading independent tower companies in Indonesia, we are pleased to

announce our strong financial and operational results for 2013. We organically added 2,985
telecommunication tenants to our existing portfolio, which includes 1,811
telecommunication towers. This demonstrates our unique capability to execute on large
orders from our telecommunication customers.
The Company through subsidiaries has direct and indirect shareholding greater than 50% in
the following subsidiaries:
• PT Telenet Internusa,
• PT United Towerindo and subsidiary,
• PT Tower Bersama and subsidiaries,
• PT Tower One and subsidiary,
• PT Triaka Bersama and subsidiary,
• PT Metric Solusi Integrasi and subsidiary,
• PT Solusi Menara Indonesia,
• TBG Global Pte. Ltd. and subsidiary, and
• PT Menara Bersama Terpadu.
August 2014
Disclaimer:

TBIG Tower Bersama Infrastructure Tbk.
Industry Sub Sector : Non Building Construction (75) Market Capitalization : 39,811,167,451,700
25 | 39.8T | 0.79% | 62.34%
47 | 5.26T | 0.62% | 76.88%

Established Date : 08-Nov-2004 1. JPMCC-SPO Partners II LP 273,013,100 : 5.69%
Listing Date : 26-Oct-2010 2. PT Provident Capital Indonesia 1,379,140,806 : 28.75%
Under Writer IPO : 3. PT Wahana Anugerah Sejahtera 1,442,915,336 : 30.08%
PT UBS Securities Indonesia 4. Public (<5%) 1,701,456,957 : 35.48%
PT Indo Premier Securities
PT Datindo Entrycom Bonus Cash Recording Payment
F/I
Puri Datindo - Wisma Sudirman Year Shares Dividend Cum Date Ex Date Date Date
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2010 25.00 10-Jun-11 13-Jun-11 15-Jun-11 28-Jun-11 F
Phone : (021) 570-9009 2013 60.00 18-Sep-13 19-Sep-13 23-Sep-13 03-Oct-13 I
Fax : (021) 570-9026
ISSUED HISTORY
1. Edwin Soeryadjaya No. Type of Listing Shares Date Date
2. Herry Tjahjana *) 1. First Issue 551,111,000 26-Oct-10 26-Oct-10
3. Mustofa *) 2. Company Listing 4,005,588,889 26-Oct-10 26-Oct-10
4. Wahyuni Bahar *) 3. Additional Listing without RI 239,826,310 30-Jul-12 30-Jul-12
5. Winato Kartono
BOARD OF DIRECTORS
1. Herman Setya Budi
2. Budianto Purwahjo
3. Gusandi Sjamsudin
4. Hardi Wijaya Liong
5. Helmi Yusman Santoso
AUDIT COMMITTEE
1. Mustofa
2. Aria Kanaka
3. Ignatius Andy
CORPORATE SECRETARY
Helmy Yusman Santoso
HEAD OFFICE
Barclays House Building, 6th Fl.
Jln. Jenderal Sudirman Kav. 22 - 23
Jakarta - 12920
Phone : (021) 571-1946, 292-48900
Fax : (021) 571-2344
Homepage : www.tower-bersama.com
Email : helmy@tower-bersama.com
corporate.secretary@tower-bersama.com

TRADING ACTIVITIES
Tower Bersama Infrastructure Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
10,000 800 Oct-10 2,625 2,150 2,550 9,538 941,019 2,100,474 4
Nov-10 3,300 2,550 2,725 21,360 418,107 1,102,879 21
8,750 700 Dec-10 2,800 2,450 2,500 4,626 108,256 281,550 20
Jan-11 2,725 2,375 2,425 9,179 94,332 237,684 21

7,500 600
Feb-11 2,450 2,300 2,350 4,100 36,123 85,574 18
Mar-11 2,475 2,175 2,225 4,010 50,779 114,563 23
6,250 500
Apr-11 2,475 2,175 2,425 8,810 245,263 568,530 20
May-11 2,425 2,175 2,225 3,011 484,010 1,083,414 21
5,000 400
Jun-11 2,450 2,150 2,375 3,502 48,712 111,124 20
Jul-11 2,500 2,225 2,225 2,386 39,317 93,454 21
3,750 300 Aug-11 2,275 1,830 2,200 3,396 29,944 63,922 19
Sep-11 2,300 1,810 2,000 3,506 39,860 84,945 20
2,500 200 Oct-11 2,075 1,860 2,075 2,169 20,555 41,196 21
Nov-11 2,400 2,000 2,125 2,192 26,421 57,531 22
1,250 100 Dec-11 2,400 2,150 2,375 1,611 21,057 48,186 21
Jan-12 2,425 2,325 2,400 1,737 39,087 92,982 21

Feb-12 2,625 2,350 2,600 3,580 166,531 420,776 21
Mar-12 3,075 2,550 2,950 6,803 785,692 2,271,438 21
Apr-12 3,200 2,925 3,050 4,439 143,343 437,376 20
May-12 3,200 2,900 3,200 5,069 155,205 472,268 21
Closing Price*, Jakarta Composite Index (IHSG) and Jun-12 3,400 2,975 3,275 5,533 124,903 401,083 21
Infrastructure, Utilities and Transportation Index Jul-12 4,000 3,250 3,925 4,930 141,729 505,148 22
October 2010 - July 2014 Aug-12 4,200 3,700 3,875 5,661 133,336 522,447 19
280% Sep-12 4,500 3,800 4,450 4,660 116,837 476,198 20
Oct-12 5,100 4,375 5,000 5,902 88,890 417,510 22
240% 245.8% Nov-12 6,150 4,975 6,000 5,911 416,777 2,362,432 20
Dec-12 6,000 5,250 5,700 6,240 297,474 1,705,845 18
200%
Jan-13 6,350 5,350 5,900 8,721 83,157 485,791 21
160% Feb-13 5,950 5,200 5,600 10,457 142,992 791,870 20
Mar-13 6,150 5,550 6,050 7,436 144,157 817,677 19
Apr-13 6,200 5,450 5,650 6,920 130,555 746,627 22
120%
May-13 6,200 5,350 6,000 8,781 100,319 561,365 22
Jun-13 6,000 4,450 5,200 17,149 172,755 861,019 19
80%
Jul-13 5,800 4,900 5,700 9,548 118,866 621,488 23
Aug-13 6,650 5,100 5,200 13,449 168,488 1,003,989 17
40% 39.3%
35.6% Sep-13 6,100 5,200 5,850 15,926 78,464 440,692 21
Oct-13 6,000 5,350 5,700 24,056 134,815 759,917 21
- Nov-13 6,500 5,600 6,000 20,908 231,330 1,417,115 20
Dec-13 6,250 5,300 5,800 9,086 547,707 3,275,237 19
-40%
Feb-14 6,400 5,900 6,250 15,184 50,094 302,873 20
Mar-14 6,300 5,950 6,000 21,353 342,321 2,002,123 20
SHARES TRADED 2010 2011 2012 2013 Jul-14 Apr-14 6,550 6,000 6,500 18,543 82,766 512,340 20
Volume (Million Sh.) 1,467 1,136 2,610 2,054 817 May-14 7,675 6,250 7,675 23,273 105,396 723,323 18
Days 45 247 246 244 137
Price (Rupiah)
High 3,300 2,725 6,150 6,650 8,425
Low 2,150 1,810 2,325 4,450 5,450
Close 2,500 2,375 5,700 5,800 8,300
Close* 2,500 2,375 5,700 5,800 8,300
PER (X) 34.87 21.89 33.28 25.29 27.02

PER Industry (X) 14.36 11.09 17.53 18.40 13.96
PBV (X) 5.31 4.00 6.44 6.90 10.23

Public Accountant : Tanubrata Sutanto Fahmi & Rekan (Member of BDO International Limited)
Receivables 144,144 159,200 166,615 637,105 974,799

47,321 33,545 228,771 328,078 415,589 17,000
Inventories
Current Assets 1,543,036 1,186,268 2,301,229 2,598,596 3,341,845
12,750
Fixed Assets 202,280 383,713 87,100 219,516 249,340
Other Assets - 5,246 4,699 4,151 7,016
8,500
Total Assets 5,176,442 6,880,206 14,317,483 18,719,211 20,963,129
Growth (%) 32.91% 108.10% 30.74% 11.99% 4,250
Current Liabilities 459,148 869,746 2,182,014 3,930,922 7,436,718 -

Growth (%) 46.09% 141.25% 45.01% 16.88%
Paid up Capital 455,670 455,670 479,653 479,653 479,653 4,245
3,893
Par Value 100 100 100 100 100
3,379
2,705
2,513
2,144
Total Equity 2,144,324 2,705,209 4,245,393 4,114,039 3,892,683
Growth (%) 26.16% 56.93% -3.09% -5.38% 1,647
Total Revenues 671,360 970,026 1,715,421 2,690,500 1,581,389

Growth (%) 44.49% 76.84% 56.84%
-85
2010 2011 2012 2013 Jun-14
Cost of Revenues 98,196 143,262 263,837 395,796 242,437

Gross Profit 573,164 826,764 1,451,584 2,294,704 1,338,952
Expenses (Income) 86,877 119,278 171,195 242,434 137,012
Growth (%) 45.49% 80.98% 60.28%

2,691
2,142

1,581
Tax 19,919 20,600 -14,167 -174,148 49,425 970

Profit for the period 339,378 492,348 927,415 1,351,524 697,006 1,044
671
Growth (%) 45.07% 88.37% 45.73%
495
Current Ratio (%) 336.07 136.39 105.46 66.11 44.94
1,352
Dividend (Rp) 25.00 - - 60.00 - 1,352
EPS (Rp) 71.70 104.10 175.53 260.19 138.36

BV (Rp) 470.59 593.68 885.10 857.71 811.56 1,076
927
DAR (X) 0.55 0.61 0.70 0.78 0.81
697
1.33 1.54 2.37 3.55 4.39
800
DER(X)
ROA (%) 6.56 7.16 6.48 7.22 3.32 492
524
15.83 18.20 21.85 32.85 17.91 339

ROE (%)
GPM (%) 85.37 85.23 84.62 85.29 84.67 249
OPM (%) 72.43 72.93 74.64 76.28 76.01

NPM (%) 50.55 50.76 54.06 50.23 44.08
-27
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 34.87 - - 23.06 -
Yield (%) 1.00 - - 1.03 -

COMPANY REPORT
TLKM
TELEKOMUNIKASI INDONESIA
(PERSERO) TBK.
Company Profile
We are a state-owned enterprise that operates in the telecommunications and network

services sector in Indonesia. We are subject to the prevailing laws and regulations in this
country. Given its status as a state-owned enterprise whose shares are traded on the stock
market, the Government of the Republic of Indonesia is the Company’s majority
shareholder, while the remaind of the Company’s common stock is owned by the public.
The Company’s shares are traded on the Indonesia Stock Exchange (“IDX”) and the New
York Stock Exchange (“NYSE”).
As stated in our Articles of Association, our business is to provide telecommunications
networks and telecommunications and information services, and to optimize the
Company’s resources. To attain the aforementioned objectives, the Company may
undertake business activities that incorporate the following:
1. Main Business
a. To plan, build, deliver, develop, operate, marketor sell/lease, and maintain
telecommunications and information networks in the broadest sense with
respect to provisions of laws and regulations.
b. To plan, develop, deliver, market or sell and improve telecommunications and
information services in the broadest sense with respect to provisions of laws
and regulations.
2. Supporting Business
a. To provide payment transaction and remittance services via
telecommunications and information networks.
b. To carry out activities and other undertakings in respect of optimizing the
Company’s resources, among others the utilization of the Company’s property,
plant and equipment and movable assets, information system facilities,
education and training facilities and maintenance and repair facilities.
August 2014
Disclaimer:

TLKM Telekomunikasi Indonesia (Persero) Tbk. [S]
Industry Sub Sector : Telecommunication (73) Market Capitalization : 267,119,990,460,000
5 | 267.1T | 5.29% | 28.54%
4 | 46.1T | 5.45% | 23.32%

Established Date : 24-Sep-1991 1. Negara Republik Indonesia 51,602,353,560 : 51.19%
Under Writer IPO :
PT Bahana Securities DIVIDEND ANNOUNCEMENT
F/I
PT Makindo Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1995 24.48 07-Jun-96 10-Jun-96 18-Jun-96 17-Jul-96 F
PT Datindo Entrycom 1996 41.25 13-May-97 14-May-97 23-May-97 20-Jun-97 F
Puri Datindo - Wisma Sudirman 1997 32.75 22-May-98 25-May-98 02-Jun-98 01-Jul-98 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 1997 15.75 23-Nov-98 24-Nov-98 02-Dec-98 30-Dec-98 F
Phone : (021) 570-9009 1998 35.69 24-May-99 25-May-99 02-Jun-99 01-Jul-99 F
Fax : (021) 570-9026 1998 50 : 4 24-Jun-99 25-Jun-99 05-Jul-99 02-Aug-99 B
1998 15.30 24-May-99 25-May-99 02-Jun-99 30-Dec-99 F
BOARD OF COMMISSIONERS 1999 53.88 26-Apr-00 27-Apr-00 05-May-00 22-May-00 F
1. Jusman Syafii Djamal 1999 53.88 09-Oct-00 10-Oct-00 18-Oct-00 01-Nov-00 F
2. Imam Apriyanto 2000 44.08 31-May-01 01-Jun-01 07-Jun-01 21-Jun-01 I
3. Hadiyanto 2000 44.08 10-Oct-01 11-Oct-01 17-Oct-01 31-Oct-01 F
4. Johnny Swandi Sjam *) 2001 210.82 24-Jul-02 25-Jul-02 30-Jul-02 12-Aug-02 F
5. Parikesit Suprapto 2002 331.16 03-Jun-03 04-Jun-03 06-Jun-03 12-Jun-03 F
6. Virano Gazi Nasution *) 2003 301.95 23-Aug-04 24-Aug-04 26-Aug-04 07-Sep-04 F
*) Independent Commissioners 2004 7.11 23-Dec-04 27-Dec-04 29-Dec-04 06-Jan-05 I
2005 144.90 15-Jul-05 18-Jul-05 20-Jul-05 03-Aug-05
1. Arief Yahya 2006 48.45 21-Dec-06 22-Dec-06 27-Dec-06 02-Jan-07 I
2. Honesti Basyir 2006 254.76 20-Jul-07 23-Jul-07 25-Jul-07 08-Aug-07 F
3. Indra Utoyo 2007 48.45 29-Nov-07 30-Nov-07 04-Dec-07 18-Dec-07 I
4. Muhamad Awaluddin 2007 309.42 11-Jul-08 14-Jul-08 16-Jul-08 31-Jul-08 F
5. Priyantono Rudito 2007 97.73 09-Oct-08 10-Oct-08 14-Oct-08 28-Oct-08 F
6. Ririek Adriansyah 2008 296.94 07-Jul-09 08-Jul-09 10-Jul-09 27-Jul-09 F
7. Rizkan Chandra 2009 26.65 09-Dec-09 10-Dec-09 14-Dec-09 29-Dec-09 I
8. Sukardi Silalahi 2009 261.41 07-Jul-10 08-Jul-10 12-Jul-10 26-Jul-10 F
2010 26.75 22-Dec-10 23-Dec-10 28-Dec-10 11-Jan-11 I
AUDIT COMMITTEE 2010 295.84 13-Jun-11 14-Jun-11 16-Jun-11 01-Jul-11 F
1. Johnny Swandi Sjam 2011 371.05 05-Jun-12 06-Jun-12 08-Jun-12 22-Jun-12 F
2. Agus Yulianto 2012 436.10 29-May-13 30-May-13 03-Jun-13 18-Jun-13 F
3. Parikesit Suprapto 2013 102.40 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
4. Tjatur Purwadi
5. Virano Gazi Nasution ISSUED HISTORY
Listing Trading
CORPORATE SECRETARY No. Type of Listing Shares Date Date
Honesti Basyir 1. Negara RI (Seri A) 1 14-Nov-95 -
2. Negara RI (Seri B) (C/ L) 7,466,665,999 14-Nov-95 -
HEAD OFFICE 3. First Issue 933,333,000 14-Nov-95 14-Nov-95
Graha Citra Caraka 5th Fl. 4. First Issue (LN) 700,000,000 14-Nov-95 14-Nov-95
Jln. Gatot Subroto No. 52 5. First Issue (divesment) 233,334,000 14-Nov-95 14-Nov-95
Jakarta 6. Bonus Shares 746,666,640 03-Aug-99 03-Aug-99
Phone : (021) 521-5109 7. Stock Split 10,079,999,640 28-Sep-04 28-Sep-04
Fax : (021) 522-0500 8. Stock Split 86,247,402,484 28-Aug-13 28-Aug-13
Homepage : www.telkom.co.id
Email : honesti@telkom.co.id

TRADING ACTIVITIES
Telekomunikasi Indonesia (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,800 3,200 Jan-10 9,700 9,200 9,350 20,466 343,755 3,245,848 20
Feb-10 9,450 8,200 8,300 21,760 374,201 3,260,891 19
2,450 2,800 Mar-10 8,800 7,950 8,050 48,566 687,405 5,704,868 22
Apr-10 8,350 7,500 7,850 48,650 698,151 5,567,192 21
May-10 8,050 6,950 7,750 35,324 686,175 5,233,080 19
2,100 2,400
Jun-10 8,100 7,450 7,700 26,651 475,632 3,744,786 22
Jul-10 8,450 7,600 8,450 32,139 540,356 4,302,992 22
1,750 2,000
Aug-10 9,000 8,000 8,650 26,178 500,322 4,280,165 21
Sep-10 9,450 8,600 9,200 21,676 430,504 3,918,038 17
1,400 1,600
Oct-10 9,800 8,850 9,100 32,013 443,145 4,065,168 21
Nov-10 9,150 7,750 7,950 77,869 1,214,710 10,016,453 21
1,050 1,200 Dec-10 8,300 7,650 7,950 31,995 446,590 3,549,809 20
700 800 Jan-11 8,050 7,100 7,550 43,651 640,069 4,825,430 21

Feb-11 7,850 7,350 7,450 18,451 582,326 4,376,284 18
350 400 Mar-11 7,550 6,600 7,350 45,513 671,840 4,780,703 23
Apr-11 7,850 6,950 7,700 32,395 410,474 3,028,509 20
May-11 7,800 7,400 7,700 17,375 321,219 2,442,955 21
Jun-11 7,750 6,800 7,350 29,350 376,497 2,756,735 20
Jul-11 7,400 6,900 7,350 21,068 388,155 2,783,117 21
Aug-11 7,900 7,000 7,250 32,676 595,530 4,422,141 19
Sep-11 7,900 6,900 7,600 32,016 510,065 3,802,903 20
Infrastructure, Utilities and Transportation Index Nov-11 7,650 7,150 7,350 20,061 265,993 1,978,916 22
January 2010 - July 2014 Dec-11 7,500 6,900 7,050 21,893 312,305 2,234,952 21
120%
Jan-12 7,150 6,800 6,850 26,490 422,690 2,940,995 21
100% Feb-12 7,100 6,650 7,050 23,979 479,535 3,300,302 21
97.6%
Mar-12 7,150 6,700 7,000 23,842 362,222 2,513,536 21
80% Apr-12 8,700 7,050 8,500 25,908 657,218 5,090,323 20
May-12 8,500 7,000 7,800 29,209 662,037 5,266,928 21
60% Jun-12 8,250 7,250 8,150 26,128 418,912 3,261,173 21
54.9% Jul-12 9,300 7,950 9,100 27,541 473,400 4,128,298 22
Aug-12 9,850 8,750 9,300 28,777 440,719 4,056,309 19
40% 38.7%
Sep-12 9,750 9,150 9,450 25,722 367,817 3,476,829 20
Oct-12 9,950 9,300 9,750 22,276 560,211 5,407,450 22
20%
Nov-12 9,900 8,950 9,000 25,831 426,698 3,999,309 20
Dec-12 9,350 8,650 9,050 32,515 516,125 4,636,997 18
-
Jan-13 9,800 8,800 9,700 36,521 503,515 4,706,492 21

-20% Feb-13 10,950 9,550 10,750 33,202 490,700 4,847,559 20
Mar-13 11,150 10,250 11,000 48,503 431,788 4,644,566 19
-40% Apr-13 12,500 10,400 11,700 47,977 628,400 7,176,984 22
Jun-13 11,700 9,500 11,250 69,132 840,094 8,855,033 19
Jul-13 12,200 10,500 11,900 62,831 1,036,661 11,830,601 23
Value (Billion Rp) 56,889 41,534 48,078 77,223 46,102 Oct-13 2,375 2,100 2,350 73,248 2,393,760 5,401,091 21
Days 245 247 246 244 137 Dec-13 2,200 1,980 2,150 65,021 2,557,552 5,303,635 19
Price (Rupiah) Jan-14 2,275 2,060 2,275 73,661 2,046,978 4,477,865 20

High 9,800 8,050 9,950 12,900 2,710 Feb-14 2,420 2,170 2,325 89,854 2,341,555 5,388,836 20
Low 6,950 6,600 6,650 1,950 2,060 Mar-14 2,340 2,130 2,215 138,480 3,078,227 6,852,057 20
Close 7,950 7,050 9,050 2,150 2,650 Apr-14 2,380 2,150 2,265 92,955 2,509,934 5,764,026 20
Close* 1,590 1,410 1,810 2,150 2,650 May-14 2,700 2,275 2,575 85,833 2,521,242 6,220,057 18
Jun-14 2,550 2,405 2,465 85,531 5,009,842 12,180,200 21
PER (X) 13.89 9.18 9.92 14.70 18.02 Jul-14 2,710 2,465 2,650 86,242 2,002,276 5,218,503 18
PER Industry (X) 14.36 11.09 17.53 18.40 13.96
PBV (X) 3.61 2.33 2.72 2.98 3.56

Receivables 4,433,849 5,250,000 5,409,000 6,421,000 7,968,000

515,536 758,000 579,000 509,000 1,043,000 110,000
Inventories
Current Assets 18,730,627 21,258,000 27,973,000 33,075,000 31,486,000
82,500
Fixed Assets 75,832,408 74,897,000 77,047,000 86,761,000 90,282,000
Other Assets 81,027,820 12,000 - - -
55,000
Total Assets 99,758,447 103,054,000 111,369,000 127,951,000 130,160,000
Growth (%) 3.30% 8.07% 14.89% 1.73% 27,500

Growth (%) -2.93% 5.51% 13.82% 9.18%
Paid up Capital 5,040,000 5,040,000 5,040,000 5,040,000 5,040,000 77,424
66,978
Par Value 250 250 250 50 50
61,630

45,835
Total Equity 44,418,742 60,981,000 66,978,000 77,424,000 74,994,000

Growth (%) 37.29% 9.83% 15.60% -3.14% 30,041
Total Revenues 68,629,181 71,918,000 77,143,000 82,967,000 43,542,000

Growth (%) 4.79% 7.27% 7.55%
-1,548
2010 2011 2012 2013 Jun-14
Cost of Revenues 46,138,061 49,970,000 51,445,000 55,121,000 29,349,000

Gross Profit 22,491,120 21,948,000 25,698,000 27,846,000 14,193,000
Expenses (Income) 46,138,061 49,970,000 51,445,000 - -
77,143
Growth (%) -2.41% 17.09% 8.36%
82,967
71,918
68,629
66,042
Other Income (Expenses) -1,074,769 -1,091,000 -1,470,000 -697,000 -240,000

Tax 5,546,039 5,387,000 -5,866,000 6,859,000 3,492,000

Growth (%) -2.52% 18.69% 10.50%

15,266
Current Ratio (%) 91.49 95.80 116.04 116.31 100.69
20,290
Dividend (Rp) 322.59 371.05 436.10 102.40 - 20,290
18,362
EPS (Rp) 572.27 543.90 637.40 140.92 73.52 15,870 15,470
BV (Rp) 2,203.31 3,024.85 3,322.32 768.10 743.99 16,151
DAR (X) 0.43 0.41 0.40 0.39 0.42

10,461
0.98 0.69 0.66 0.65 0.74
12,012
DER(X)
ROA (%) 15.91 15.01 16.49 15.86 8.04 7,873
ROE (%) 35.73 25.37 27.41 26.21 13.95

GPM (%) 32.77 30.52 33.31 33.56 32.60 3,733
OPM (%) 32.77 30.52 33.31 33.56 32.60

NPM (%) 23.12 21.51 23.80 24.46 24.03
-406
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 56.37 68.22 68.42 72.66 -
Yield (%) 4.06 5.26 4.82 4.76 -

COMPANY REPORT
UNTR
UNITED TRACTORS TBK.
Company Profile
PT United Tractors Tbk. was established on October 13th, 1972, as heavy equipment
distributor in Indonesia. The Company commenced commercial operations in 1973.
The principal activities of the Company and its subsidiaries include sales and rental of
heavy equipment (Construction machineries) and related after sales services, coal mining
and mining contracting. Included in mining contracting is integrated mining contracting
service.
The Company is controlled by its immediate parent company PT Astra International Tbk, a
company incorporated in Indonesia. PT Astra International Tbk's largest shareholder is
Jardine Cycle & Carriage Ltd, a company incorporated in Singapore. Jardine Cycle &
Carriage Ltd is a subsidiary of Jardine Matheson Holdings Ltd, a company incorporated in
Bermuda.
The Company is domiciled in Jakarta with 19 branches, 22 site offices and 11

representative offices throughout Indonesia.
The company has direct ownership in domestic and foreign subsidiaries:

• PT Pamapersada Nusantara,
• PT Tuah Turangga Agung,
• PT United Tractors Pandu Engineering,
• PT Andalan Multi Kencana,
• UT Heavy Industry(S) Pte. Ltd.,
• PT Bina Pertiwi, and
• PT Universal Tekno Reksajaya.
As of June 30th, 2014, the Group had approximately 28,982 employees.
August 2014
Disclaimer:

UNTR United Tractors Tbk. [S]
Industry Sub Sector : Wholesale (Durable & Non-Durable Goods) (91) Market Capitalization : 85,420,094,614,400
13 | 85.4T | 1.69% | 50.09%
21 | 10.0T | 1.18% | 54.94%

Established Date : 13-Oct-1972 1. PT Astra International Tbk. 2,219,317,358 : 59.50%
Listing Date : 19-Sep-1989 2. Public (<5%) 1,510,817,778 : 40.50%
Under Writer IPO :
PT Aseam Indonesia DIVIDEND ANNOUNCEMENT
PT (Persero) Danareksa Bonus Cash Recording Payment
F/I
PT Finconesia Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1989 100.00 05-Jan-90 06-Jan-90 11-Jan-90 31-Jan-90 I
PT Raya Saham Registra 1990 165.00 08-Jun-90 11-Jun-90 15-Jun-90 29-Jun-90
Plaza Central Building 2nd Fl. 1990 175.00 20-Nov-90 21-Nov-90 28-Nov-90 12-Dec-90 I
Jln. Jend. Sudirman Kav. 47 - 48 Jakarta 12930 1990 185.00 06-Jun-91 07-Jun-91 14-Jun-91 28-Jun-91 F
1992 70.00 11-Nov-92 12-Nov-92 19-Nov-92 15-Dec-92 I
1. Prijono Sugiarto 1993 100.00 11-Nov-93 12-Nov-93 19-Nov-93 15-Dec-93 I
2. Anugerah Pekerti *) 1993 1:3 23-Feb-94 24-Feb-94 03-Mar-94 01-Apr-94 B
3. David Alexander Newbigging 1993 50.00 15-Jun-94 16-Jun-94 23-Jun-94 23-Jul-94 F
4. Simon Collier Dixon 1994 40.00 11-Nov-94 16-Nov-94 23-Nov-94 15-Dec-94 I
5. Soegito *) 1994 70.00 22-Jun-95 23-Jun-95 03-Jul-95 31-Jul-95 F
6. Stephen Z. Satyahadi *) 1995 45.00 22-Nov-95 23-Nov-95 01-Dec-95 29-Dec-95 I
7. Sudiarso Prasetio 1995 85.00 20-Jun-96 21-Jun-96 01-Jul-96 31-Jul-96 F
*) Independent Commissioners 1996 60.00 21-Nov-96 22-Nov-96 02-Dec-96 27-Dec-96 I
1996 100.00 26-Jun-97 27-Jun-97 07-Jul-97 28-Jul-97 F
BOARD OF DIRECTORS 1999 5:9 08-Jun-00 09-Jun-00 14-Jun-00 23-Jun-00 B
1. Djoko Pranoto 2004 20.00 30-Nov-04 01-Dec-04 03-Dec-04 17-Dec-04 I
2. Edhie Sarwono 2005 35.00 23-Jun-05 22-Jun-05 27-Jun-05 11-Jul-05
3. Gidion Hasan 2005 110.00 12-Jun-06 13-Jun-06 15-Jun-06 29-Jun-06 F
4. Iman Nurwahyu 2006 45.00 13-Oct-06 16-Oct-06 18-Oct-06 03-Nov-06 0
5. Loudy Irwanto Ellias 2006 85.00 20-Jun-07 21-Jun-07 25-Jun-07 08-Jul-07 F
2007 60.00 10-Oct-07 11-Oct-07 18-Oct-07 01-Nov-07 I
AUDIT COMMITTEE 2007 150.00 10-Jun-08 11-Jun-08 13-Jun-08 27-Jun-08 F
1. Stephen Z. Satyahadi 2008 100.00 23-Oct-08 24-Oct-08 28-Oct-08 11-Nov-08 I
2. Lindawati Gani 2008 220.00 11-Jun-09 12-Jun-09 16-Jun-09 26-Jun-09 F
3. Wiltarsa Halim 2009 330.00 14-Jun-10 15-Jun-10 17-Jun-10 01-Jul-10 F
2010 160.00 27-Oct-10 28-Oct-10 01-Nov-10 12-Nov-10 I
CORPORATE SECRETARY 2010 430.00 31-May-11 01-Jun-11 06-Jun-11 13-Jun-11 F
Sara K. Loebis 2011 185.00 27-Oct-11 28-Oct-11 01-Nov-11 11-Nov-11 I
2011 635.00 11-May-12 14-May-12 16-May-12 30-May-12 F
HEAD OFFICE 2012 210.00 16-Oct-12 17-Oct-12 19-Oct-12 02-Nov-12 I
Jln. Raya Bekasi Km. 22 2012 620.00 14-May-13 15-May-13 17-May-13 31-May-13 F
Jakarta - 13910 2013 175.00 02-Oct-13 03-Oct-13 07-Oct-13 23-Oct-13 I
Phone : (021) 460-5959 - 79 2013 515.00 14-May-14 16-May-14 20-May-14 05-Jun-14 F
Fax : (021) 460-0655, 460-0677 2014 195.00 09-Oct-14 10-Oct-14 14-Oct-14 28-Oct-14 I
Homepage : www.unitedtractors.com ISSUED HISTORY

Email : sarakl@unitedtractors.com Listing Trading
ir@unitedtractors.com No. Type of Listing Shares Date Date
1. First Issue 2,700,000 19-Sep-89 19-Sep-89
2. Partial Listing 8,436,000 T: 26-Dec-89 : 27-Feb-91
3. Right Issue 2,151,579,636 T: 27-May-91 : 06-Jun-11
4. Company Listing 11,864,000 T: 25-Mar-92 : 01-Apr-92
5. Bonus Shares 351,900,000 T: 04-Apr-94 : 26-Jun-00
6. Stock Split 1,159,200,000 05-Sep-00 05-Sep-00
7. ESOP Conversion 1,201,500 T: 27-May-03 : 12-Jun-03
8. ESOP Conversion II 43,254,000 T: 11-Jun-03 : 14-Jul-05

TRADING ACTIVITIES
United Tractors Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
34,000 40.0 Jan-10 18,850 15,500 16,850 25,109 137,915 2,367,106 20
Feb-10 17,400 14,950 17,150 21,752 113,284 1,855,232 19
29,750 35.0 Mar-10 19,050 16,700 18,350 20,634 133,516 2,353,927 22
Apr-10 20,100 18,250 19,500 17,980 97,846 1,885,482 21
May-10 19,600 15,650 18,350 29,283 152,795 2,656,423 19
25,500 30.0
Jun-10 19,700 17,100 18,750 19,858 92,824 1,714,404 22
Jul-10 20,300 18,000 20,150 14,949 70,228 1,352,063 22
21,250 25.0
Aug-10 20,200 18,250 18,400 19,188 106,866 2,023,497 21
Sep-10 20,850 18,400 20,450 19,053 85,272 1,697,651 17
17,000 20.0
Oct-10 22,250 20,200 22,200 16,905 80,634 1,675,683 21
Nov-10 26,100 21,600 23,000 17,125 85,068 2,008,087 21
12,750 15.0 Dec-10 24,650 22,200 23,800 15,030 78,465 1,848,169 20
8,500 10.0 Jan-11 26,600 19,800 21,350 35,213 184,338 4,118,210 21

Feb-11 23,600 21,300 23,200 20,039 86,752 1,962,451 18
4,250 5.0 Mar-11 24,550 19,900 21,700 38,544 156,803 3,481,506 23
Apr-11 23,500 21,300 23,250 22,269 94,830 2,115,683 20
May-11 24,550 21,550 23,000 22,746 107,066 2,428,895 21
Jun-11 25,000 22,500 24,900 17,639 107,180 2,491,370 20
Jul-11 27,750 24,350 27,300 22,369 107,048 2,717,984 21
Aug-11 27,650 22,000 23,600 29,111 116,704 2,870,942 19
Sep-11 25,300 18,700 22,000 42,163 133,920 2,952,558 20
Trade, Sevices and Investment Index Nov-11 26,950 23,000 23,350 30,291 106,637 2,656,512 22
January 2010 - July 2014 Dec-11 26,500 23,900 26,350 24,597 78,359 1,958,313 21
245%
225.5% Jan-12 29,550 25,950 28,350 26,564 106,698 2,974,251 21

210% Feb-12 30,200 26,550 29,000 31,229 109,199 3,126,712 21
Mar-12 33,000 28,800 33,000 25,920 83,932 2,549,628 21
175% Apr-12 33,400 29,500 29,600 28,884 84,467 2,621,880 20
May-12 30,400 22,600 23,100 45,171 147,630 3,890,521 21
140% Jun-12 25,250 21,050 21,350 52,967 227,318 5,067,510 21
Jul-12 24,100 20,600 21,000 52,875 214,943 4,706,426 22
Aug-12 22,450 19,850 20,050 34,436 156,431 3,347,510 19
105%
97.6% Sep-12 23,100 19,050 20,700 44,887 164,019 3,434,137 20
Oct-12 21,350 19,350 21,100 39,891 174,476 3,520,933 22
70%
Nov-12 21,300 16,600 17,050 33,628 128,388 2,458,214 20
51.7% Dec-12 20,000 16,650 19,700 29,893 113,609 2,090,278 18
35%
Jan-13 22,000 19,250 19,750 37,566 137,029 2,832,813 21

- Feb-13 20,250 18,800 19,300 28,991 103,417 1,998,532 20
Mar-13 20,650 17,150 18,200 32,376 126,007 2,424,466 19
-35% Apr-13 19,400 17,700 17,750 24,930 101,694 1,879,304 22
Jun-13 18,200 15,500 18,200 41,315 128,783 2,184,264 19
Jul-13 18,200 16,000 16,800 24,018 65,178 1,091,719 23
Volume (Million Sh.) 1,235 1,394 1,711 1,120 482 Sep-13 18,300 15,500 16,300 25,190 89,382 1,498,912 21
Days 245 247 246 244 137 Dec-13 19,550 17,900 19,000 17,545 48,524 906,953 19
Price (Rupiah) Jan-14 21,200 18,500 19,300 45,472 60,972 1,184,893 20

High 26,100 27,750 33,400 22,000 25,350 Feb-14 19,300 17,725 18,975 52,632 90,170 1,659,792 20
Low 14,950 18,700 16,600 13,650 17,725 Mar-14 20,950 18,600 20,750 47,174 79,381 1,582,790 20
Close 23,800 26,350 19,700 19,000 22,900 Apr-14 22,100 19,850 21,700 49,419 83,360 1,769,643 20
Close* 22,882 26,350 19,700 19,000 22,900 May-14 22,500 20,750 21,675 45,767 62,208 1,366,231 18
Jun-14 23,200 21,700 23,100 38,741 50,682 1,149,000 21
PER (X) 20.44 16.76 12.54 15.73 13.01 Jul-14 25,350 22,250 22,900 46,771 55,653 1,307,864 18
PER Industry (X) 21.27 16.89 19.08 15.43 18.07
PBV (X) 4.91 3.57 2.27 2.09 2.28

Receivables 5,349,688 9,969,714 9,894,656 11,814,937 14,432,859

6,931,631 7,129,459 7,173,704 6,176,470 6,520,974 50,000
Inventories
Current Assets 15,532,762 25,625,578 22,048,115 27,814,126 31,581,892
37,500
Fixed Assets 13,261,374 13,670,208 15,196,476 14,574,384 14,229,935
Other Assets - - - - -
25,000
Total Assets 29,700,914 46,440,062 50,300,633 57,362,244 61,391,661
Growth (%) 56.36% 8.31% 14.04% 7.02% 12,500

Growth (%) 39.90% -4.94% 20.63% 10.05%
35,649
Paid up Capital 831,719 932,534 932,534 932,534 932,534 37,496
32,301
27,504
Par Value 250 250 250 250 250
29,847

22,198
Total Equity 16,136,338 27,503,948 32,300,557 35,648,898 37,496,180 16,136

Growth (%) 70.45% 17.44% 10.37% 5.18% 14,549
Total Revenues 37,323,872 55,052,562 55,953,915 51,012,385 27,532,600

Growth (%) 47.50% 1.64% -8.83%
-750
2010 2011 2012 2013 Jun-14
Cost of Revenues 30,528,174 44,859,041 45,432,916 41,495,567 21,796,144

Gross Profit 6,795,698 10,193,521 10,520,999 9,516,818 5,736,456
Expenses (Income) 1,633,177 2,408,944 3,074,244 2,929,481 1,357,960
Operating Profit 5,162,521 - - - - 55,053 55,954
55,954
51,012
Growth (%) N/A
44,539
37,324
27,533
Tax 1,186,745 1,885,071 1,693,413 1,788,559 1,122,016
21,710
Growth (%) 52.26% -2.48% -16.59%

10,296
Current Ratio (%) 156.59 171.64 194.65 191.02 180.44
5,900 5,753
Dividend (Rp) 590.00 820.00 830.00 690.00 195.00 5,900
EPS (Rp) 1,164.13 1,581.96 1,549.45 1,295.85 880.39 4,799

BV (Rp) 4,850.30 7,373.45 8,659.35 9,557.00 10,052.23 4,696
3,875
DAR (X) 0.46 0.41 0.36 0.38 0.39 3,256
3,493
DER(X) 0.84 0.69 0.56 0.61 0.64

ROA (%) 13.05 12.70 11.44 8.37 5.30 2,289
ROE (%) 24.01 21.45 17.81 13.46 8.68

GPM (%) 18.21 18.52 18.80 18.66 20.84 1,086
OPM (%) 13.83 - - - -

NPM (%) 10.38 10.72 10.28 9.41 11.83
-118
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 50.68 51.83 53.57 53.25 22.15
Yield (%) 2.48 3.11 4.21 3.63 0.84

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
UNVR
UNILEVER INDONESIA TBK.
Company Profile
PT Unilever Indonesia Tbk. was established on December 5th, 1933. Unilever Indonesia has
grown to be a leading company of Home and Personal Care as well as Foods and Ice Cream
products in Indonesia.
The Company is engaged in the manufacturing, marketing and distribution of consumer

goods including soaps, detergents, margarine, dairy based foods, ice cream, cosmetic
products, tea based beverages and fruit juice. The Company commenced its commercial
operations in 1933.
Unilever Indonesia’s portfolio includes many of the world’s best known and well-loved
brands, such as:
• Axe • Lifebuoy • Sunlight
• Bango • Lipton • Super Pell
• Blue Band • Lux • Surf
• Brylcreem • Molto • Unilever Food Solutions
• Buavita • Pond's • Vaseline
• Cif • Rexona • Vixal
• Citra • Rinso • Wall's Taste Joy
• Clear • Royco • Wipol Karbol
• Close Up • Sariwangi • Wipol Ultra Protection
• Domestos • She • Zwitsal
• Dove
The Company’s factories are located at Jln. Jababeka 9 Blok D, Jln. Jababeka Raya Blok O,
Jln. Jababeka V Blok V No. 14-16, Jababeka Industrial Estate Cikarang, Bekasi, West Java,
and Jln. Rungkut Industri IV No. 5-11, Rungkut Industrial Estate, Surabaya.
August 2014
Disclaimer:

UNVR Unilever Indonesia Tbk. [S]
Industry Sub Sector : Cosmetics And Household (54) Market Capitalization : 234,622,500,000,000
7 | 234.6T | 4.64% | 37.87%
27 | 8.30T | 0.98% | 61.35%
COMPANY HISTORY SHAREHOLDERS (January 2014)

Established Date : 05-Dec-1933 1. Unilever Indonesia Holding BV 6,484,877,500 : 84.99%
Listing Date : 11-Jan-1982 2. Public (<5%) 1,145,122,500 : 15.01%
Under Writer IPO :
PT Aseam Indonesia DIVIDEND ANNOUNCEMENT
PT Danareksa Bonus Cash Recording Payment
F/I
PT Merchant Investment Corporation Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1989 6:1 600.00 from 27-Oct-89 until 26-Jun-90 I
PT Sharestar Indonesia 1990 470.00 27-Feb-91 04-Jul-91 I&F
Beritasatu Plasa 7th Fl. 1992 780.00 20-Feb-92 20-Aug-93 I&F
Jln. Jend. Gatot Subroto Kav. 35 - 36 Jakarta 12950 1993 810.00 21-Oct-93 29-Jul-94 I&F
Phone : (021) 527-7966 1994 860.00 03-Nov-94 28-Jul-95 I&F
Fax : (021) 527-7967 1995 920.00 06-Nov-95 26-Jul-96 I&F
1996 1,010.00 04-Nov-96 27-Aug-97 I&F
BOARD OF COMMISSIONERS 1997 1,110.00 03-Nov-97 07-Aug-98 I&F
1. Peter Frank ter Kulve 1998 1,320.00 18-Nov-98 27-Jul-99 I&F
2. Bambang Subianto *) 1999 25,000.00 03-Nov-99 20-Jul-00 I&F
3. Cyrillus Harinowo *) 2000 690.00 28-Nov-00 01-Aug-01 I&F
4. Erry Firmansyah *) 2001 1,150.00 19-Nov-01 22-Nov-02 I&F
5. Hikmahanto Juwana *) 2002 900.00 11-Feb-03 04-Aug-03 I&F
*) Independent Commissioners 2003 50.00 17-Feb-04 18-Feb-04 20-Feb-04 05-Mar-04 I

2003 80.00 15-Jul-04 16-Jul-04 20-Jul-04 03-Aug-04 F
BOARD OF DIRECTORS 2004 70.00 02-Dec-04 03-Dec-04 06-Dec-04 17-Dec-04 I
1. Maurits Daniel Rudolf Lalisang 2004 60.00 04-Mar-05 07-Mar-05 09-Mar-05 24-Mar-05 I
2. Ainul Yaqin 2005 80.00 08-Jul-05 11-Jul-05 13-Jul-05 27-Jul-05 I
3. Debora Herawati Sadrach 2005 60.00 05-Dec-05 06-Dec-05 08-Dec-05 21-Dec-05 I
4. Enny Hartati 2005 120.00 22-Jun-06 23-Jun-06 27-Jun-06 11-Jul-06 F
5. Tevilyan Yudhistira Rusli 2006 80.00 29-Nov-06 30-Nov-06 04-Dec-06 18-Dec-06 I
6. Hadrianus Setiawan 2006 125.00 22-Jun-07 25-Jun-07 27-Jun-07 11-Jul-07 F
7. Ira Noviarti 2007 90.00 28-Nov-07 29-Nov-07 03-Dec-07 14-Dec-07 I
8. Ramakrishnan Raghuraman 2007 167.00 26-Jun-08 27-Jun-08 01-Jul-08 11-Jul-08 F
9. Sancoyo Antarikso 2008 95.00 26-Nov-08 27-Nov-08 01-Dec-08 15-Dec-08 I
10. Vishal Gupta 2008 220.00 26-Jun-09 29-Jun-06 01-Jul-09 14-Jul-09 F
2009 100.00 25-Nov-09 26-Nov-09 01-Dec-09 15-Dec-09 I
AUDIT COMMITTEE 2009 299.00 28-Jun-10 29-Jun-10 01-Jul-10 13-Jul-10 F
1. Erry Firmansyah 2010 100.00 26-Nov-10 29-Nov-10 01-Dec-10 15-Dec-10 I
2. Benny Redjo Setyono 2010 344.00 27-Jun-11 28-Jun-11 01-Jul-11 13-Jul-11 F
3. Muhammad Saleh 2011 250.00 06-Dec-11 07-Dec-11 09-Dec-11 15-Dec-11 I
2011 296.00 27-Jun-12 28-Jun-12 02-Jul-12 13-Jul-12 F
CORPORATE SECRETARY 2012 300.00 10-Dec-12 11-Dec-12 13-Dec-12 20-Dec-12 I
Sancoyo Antarikso 2012 334.00 28-Jun-13 01-Jul-13 03-Jul-13 16-Jul-13 F
2013 330.00 02-Dec-13 03-Dec-13 05-Dec-13 12-Dec-13 I
HEAD OFFICE 2013 371.00 26-Jun-14 27-Jun-14 01-Jul-14 15-Jul-14 F
Graha Unilever
Jln. Jend. Gatot Subroto Kav. 15 ISSUED HISTORY
Jakarta - 12930 Listing Trading
Phone : (021) 526-2112 No. Type of Listing Shares Date Date
Fax : (021) 526-4020 1. First Issue 9,200,000 11-Jan-82 11-Jan-82
2. Bonus Shares 2,251,225 T: 15-Dec-89 : 22-Sep-93
Homepage : www.unilever.com; www.unilever.co.id 3. Company Listing 64,848,775 02-Jan-98 02-Jan-98
Email : unvr.indonesia@unilever.com 4. Stock Split 7,553,700,000 T: 06-Nov-00 : 03-Sep-03

TRADING ACTIVITIES
Unilever Indonesia Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
36,000 40.0 Jan-10 11,750 10,950 11,300 5,909 30,857 347,247 20
Feb-10 11,700 10,550 11,500 4,558 17,150 192,747 19
31,500 35.0 Mar-10 13,200 11,300 12,150 7,296 41,522 500,726 22
Apr-10 14,000 12,000 13,850 6,233 31,299 397,505 21
May-10 16,550 13,600 15,600 10,001 45,746 686,004 19
27,000 30.0
Jun-10 18,900 15,000 17,000 12,810 45,361 755,493 22
Jul-10 17,350 16,300 16,950 14,001 48,902 818,405 22
22,500 25.0
Aug-10 17,150 15,950 16,100 12,188 41,934 696,369 21
Sep-10 17,250 15,950 16,850 11,202 49,461 826,348 17
18,000 20.0
Oct-10 19,200 16,850 17,450 10,736 46,924 819,428 21
Nov-10 17,500 15,000 15,000 17,104 70,085 1,158,321 21
13,500 15.0 Dec-10 17,000 15,000 16,500 15,223 45,919 729,446 20
9,000 10.0 Jan-11 16,650 13,800 15,050 16,428 48,440 732,617 21

Feb-11 16,200 14,100 16,200 11,599 27,234 412,351 18
4,500 5.0 Mar-11 16,950 15,250 15,300 15,300 59,981 967,698 23
Apr-11 15,650 14,900 15,300 17,329 57,709 878,710 20
May-11 15,300 14,650 14,700 10,563 43,392 648,620 21
Jun-11 15,350 14,600 14,900 9,679 28,109 419,148 20
Jul-11 15,900 14,700 15,600 12,108 41,466 628,166 21
Aug-11 17,400 15,000 16,900 20,492 63,871 1,043,194 19
Sep-11 17,750 14,000 16,500 17,471 46,683 763,768 20
Consumer Goods Industry Index Nov-11 18,400 15,450 18,200 12,590 43,802 722,503 22
January 2010 - July 2014 Dec-11 19,000 17,100 18,800 13,898 40,609 732,748 21
245%
Jan-12 24,450 18,200 19,600 16,752 38,440 761,415 21
210% 207.4% Feb-12 20,050 17,500 19,250 17,028 31,412 606,182 21
Mar-12 20,200 18,600 20,000 14,713 27,939 543,448 21
175% 178.3% Apr-12 20,750 18,750 19,850 14,599 31,656 615,568 20
May-12 22,450 19,700 20,550 16,221 45,658 965,430 21
140% Jun-12 25,500 20,000 22,900 15,235 37,485 842,684 21
Jul-12 25,250 22,350 24,250 16,534 35,057 828,065 22
Aug-12 27,350 23,800 27,100 13,551 24,914 635,793 19
105%
97.6% Sep-12 28,500 25,100 26,050 20,640 43,814 1,177,790 20
Oct-12 26,300 25,250 26,050 15,755 45,467 1,176,959 22
70%
Nov-12 26,950 25,600 26,350 13,272 46,071 1,207,920 20
Dec-12 26,400 20,100 20,850 50,609 143,941 3,196,599 18
35%
Jan-13 23,150 20,900 22,050 23,609 61,636 1,347,431 21

- Feb-13 23,300 21,650 22,850 17,807 44,383 1,001,564 20
Mar-13 23,100 21,700 22,800 16,433 50,808 1,147,414 19
-35% Apr-13 26,250 22,150 26,250 15,906 50,732 1,178,848 22
Jun-13 31,550 25,550 30,750 34,773 62,429 1,795,607 19
Jul-13 34,600 26,000 31,800 24,938 45,612 1,435,491 23
Days 245 247 246 244 137 Dec-13 27,300 25,100 26,000 22,404 36,810 963,138 19
Price (Rupiah) Jan-14 28,775 25,800 28,550 44,445 49,313 1,352,166 20

High 19,200 19,000 28,500 37,350 33,000 Feb-14 28,650 27,525 28,575 35,716 35,118 990,814 20
Low 10,550 13,800 17,500 20,900 25,800 Mar-14 31,350 27,525 29,250 47,590 47,568 1,377,944 20
Close 16,500 18,800 20,850 26,000 30,750 Apr-14 30,975 28,500 29,250 46,776 36,990 1,102,426 20
Close* 16,500 18,800 20,850 26,000 30,750 May-14 30,850 28,800 29,125 31,684 34,883 1,051,523 18
Jun-14 30,550 29,200 29,275 35,479 39,009 1,161,481 21
PER (X) 37.17 34.45 32.87 36.37 41.19 Jul-14 33,000 29,250 30,750 39,880 40,817 1,262,274 18
PER Industry (X) 16.41 16.22 19.75 19.15 20.27
PBV (X) 31.12 38.97 40.09 36.00 54.92

Cash & Cash Equivalents 317,759 336,143 229,690 261,202 1,068,378 16,250
Receivables 1,752,633 2,188,280 2,261,941 3,279,694 4,855,070

1,574,060 1,812,821 2,061,899 2,084,331 2,352,458 13,000
Inventories
Current Assets 3,748,130 4,446,219 5,035,962 5,862,939 8,505,223
9,750
Fixed Assets 4,148,778 5,314,311 6,283,479 6,874,177 6,853,109
Other Assets 50,377 75,705 70,456 69,271 66,600
6,500
Total Assets 8,701,262 10,482,312 11,984,979 7,485,249 15,956,956
Growth (%) 20.47% 14.34% -37.54% 113.18% 3,250

Growth (%) 46.19% 17.87% 13.43% 28.50%
Authorized Capital 76,300 76,300 76,300 76,300 76,300 4,255 4,272
76,300 76,300 76,300 76,300 76,300 4,045 3,968
Paid up Capital 4,272
3,681
Par Value 10 10 10 10 10
3,400

2,529
Total Equity 4,045,419 3,680,937 3,968,365 4,254,670 4,271,931

Growth (%) -9.01% 7.81% 7.21% 0.41% 1,658
Total Revenues 19,690,239 23,469,218 27,303,248 30,757,435 17,582,488

Growth (%) 19.19% 16.34% 12.65%
-85
2010 2011 2012 2013 Jun-14
Cost of Revenues 9,485,274 11,462,805 13,414,122 14,978,947 8,952,857

Gross Profit 10,204,965 12,006,413 13,889,126 15,778,488 8,629,631
Expenses (Income) 5,662,340 6,431,614 7,391,019 8,614,043 4,796,375
Growth (%) 22.72% 16.56% 10.25% 27,303

23,469
24,483
Other Income (Expenses) -3,982 - -31,342 -5,637 -34,268 19,690

17,582
Tax 1,153,995 1,410,495 -1,627,620 1,806,183 950,997

Growth (%) 23.04% 16.21% 10.61%

5,659
Current Ratio (%) 85.13 68.67 66.83 69.64 77.87
5,353
Dividend (Rp) 444.00 546.00 634.00 701.00 - 5,353
4,839
EPS (Rp) 443.90 545.66 634.24 701.52 373.26 4,164
BV (Rp) 530.20 482.43 520.10 557.62 559.89 4,261
3,385
DAR (X) 0.53 0.65 0.67 1.21 0.73
2,848
1.15 1.85 2.02 2.14 2.74
3,169
DER(X)
ROA (%) 38.90 39.73 40.38 71.51 17.85 2,077
ROE (%) 83.67 113.13 121.94 125.81 66.67

GPM (%) 51.83 51.16 50.87 51.30 49.08 985
OPM (%) 23.07 23.75 23.80 23.29 21.80

NPM (%) 17.19 17.74 17.72 17.40 16.20
-107
2010 2011 2012 2013 Jun-14

Payout Ratio (%) 100.02 100.06 99.96 99.93 -
Yield (%) 2.69 2.90 3.04 2.70 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
WIKA
WIJAYA KARYA (PERSERO) TBK.
Company Profile
PT Wijaya Karya (Persero) Tbk. established dated 29 March 1960.
The purpose and objectives of the Company is to engage in the construction industry,
manufacturing industry, conversion industry, rental, agency services, investment, agro-
industry, renewable energy and conversion energy , trading, engineering, procurement,
construction, area (industrial zone) management , service capacity upgrades in the field of
construction , information technology for engineering and planning services, by applying the
principles of limited liability companies.
The Company is domiciled at Jln. D.I. Panjaitan Kav. 9, Jakarta. The main activities
throughout Indonesia and overseas. The Company started its activities commercially in 1961.
The Company directly owned more than 50% shares on subsidiaries as follows:
• PT Wijaya Karya Beton,
• PT Wijaya Karya Realty,
• PT Wijaya Karya Industri dan Konstruksi,
• PT Wijaya Karya Rekayasa Konstruksi,
• PT Wijaya Karya Bangunan Gedung
• PT Sarana Karya
The entire subsidiaries are domiciled in Indonesia. Number of Employees of the Company
on June 30th, 2014 are 1,813 employes.
August 2014
Disclaimer:

WIKA Wijaya Karya (Persero) Tbk. [S]
55 | 16.3T | 0.32% | 76.38%
18 | 11.1T | 1.31% | 51.28%

Established Date : 11-Mar-1960 1. Negara Republik Indonesia 4,000,000,000 : 65.05%
Under Writer IPO :
PT CIMB-GK Securities Indonesia DIVIDEND ANNOUNCEMENT
F/I
PT Indo Premier Securities Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 2007 5.97 06-Jun-08 09-Jun-08 11-Jun-08 25-Jun-08
PT Datindo Entrycom 2008 8.03 18-Jun-09 19-Jun-09 23-Jun-09 07-Jul-09
Puri Datindo - Wisma Sudirman 2009 10.02 27-May-10 31-May-10 02-Jun-10 16-Jun-10
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2010 17.08 06-Jun-11 07-Jun-11 09-Jun-11 23-Jun-11
Phone : (021) 570-9009 2011 17.28 23-May-12 24-May-12 28-May-12 11-Jun-12
Fax : (021) 570-9026 2012 22.32 29-May-13 30-May-13 03-Jun-13 14-Jun-13
2013 27.82 28-Apr-14 29-Apr-14 02-May-14 13-May-14
1. Basoeki Hadimoeljono ISSUED HISTORY
2. Abdul Rahman Pelu Listing Trading
3. B. Didik Prasetyo No. Type of Listing Shares Date Date
4. Bakti Santoso Ludin *) 1. First Issue 1,846,154,000 29-Oct-07 29-Oct-07
5. Soepomo 2. Negara RI (Seri A) 1 29-Oct-07 29-Oct-07
6. Thamrin Abdullah *) 3. Company Listing 3,999,999,999 29-Oct-07 29-Oct-07
*) Independent Commissioners 4. ESOP II 213,500 T: 16-Dec-09 : 22-Dec-09
5. MSOP I 2,183,500 T: 24-May-10 : 30-Jun-10
BOARD OF DIRECTORS 6. MSOP II 908,000 T: 24-May-10 : 30-Jun-10
1. Bintang Perbowo 7. MSOP I & II 152,081,500 T: 22-Nov-10 : 05-Jan-11
2. Adji Firmantoro 8. ESOP/MSOP I & II 137,504,500 T: 20-May-11 : 01-Jul-13
3. Bambang Pramujo 9. ESOP/MSOP II 9,974,000 T: 22-Nov-11 : 01-Jul-14
4. Budi Harto 10. ESOP/MSOP I 206,000 30-Dec-13 30-Dec-13
5. Destiawan Soewardjono
6. Ganda Kusuma
AUDIT COMMITTEE
1. Bakti Santoso Ludin
2. Arzul Andaliza
3. M. Slamet Wibowo
4. Mukti Wibowo
5. Thamrin Abdullah
CORPORATE SECRETARY
Suradi
HEAD OFFICE
WIKA Building
Jln. D.I. Panjaitan Kav. 9
Jakarta - 13340
Phone : (021) 819-2808, 850-8640, 850-8650
Fax : (021) 819-1235, 859-11969
Homepage : www.wika.co.id
Email : suradi@wika.co.id

TRADING ACTIVITIES
Wijaya Karya (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
3,000 400 Jan-10 340 315 315 3,412 103,177 33,770 20
Feb-10 340 300 335 2,503 108,275 34,899 19
2,625 350 Mar-10 365 325 350 5,165 354,525 123,467 22
Apr-10 440 345 425 23,526 1,584,617 643,345 21
May-10 430 310 355 9,063 411,763 152,940 19
2,250 300
Jun-10 455 325 430 12,971 543,537 216,952 22
Jul-10 570 415 540 12,742 731,427 361,431 22
1,875 250
Aug-10 630 490 590 10,769 547,292 311,209 21
Sep-10 740 580 670 15,432 722,088 476,688 17
1,500 200
Oct-10 770 660 720 16,873 712,205 512,661 21
Nov-10 720 620 630 8,674 255,744 171,452 21
1,125 150 Dec-10 710 620 680 8,795 321,454 218,130 20
750 100 Jan-11 700 590 610 7,891 316,051 202,032 21

Feb-11 680 600 660 4,073 114,366 73,484 18
375 50 Mar-11 710 600 670 6,958 143,658 92,449 23
Apr-11 700 660 670 7,560 148,172 100,902 20
May-11 710 660 690 3,019 98,903 68,033 21
Jun-11 700 640 660 2,028 95,426 63,532 20
Jul-11 690 650 680 4,419 150,923 101,290 21
Aug-11 680 560 580 3,545 115,101 70,332 19
Sep-11 610 450 490 4,595 95,568 52,881 20
January 2010 - July 2014 Dec-11 650 465 610 9,881 382,183 230,029 21
840%
Jan-12 720 600 710 4,827 208,891 137,097 21
720% Feb-12 780 660 730 4,265 209,034 153,646 21
703.0%
Mar-12 920 730 910 7,608 497,042 399,840 21
600% Apr-12 980 880 980 8,877 258,868 238,228 20
May-12 1,110 890 920 10,137 316,373 322,511 21
480% Jun-12 1,050 870 1,050 9,383 224,325 217,163 21
Jul-12 1,070 980 1,000 6,930 133,608 137,739 22
Aug-12 1,130 980 1,050 7,231 155,121 164,671 19
360%
Sep-12 1,270 1,050 1,210 7,417 159,355 184,402 20
Oct-12 1,550 1,210 1,370 22,891 474,320 654,105 22
240%
213.8% Nov-12 1,630 1,300 1,630 19,989 425,278 614,199 20
Dec-12 1,650 1,360 1,480 20,945 414,789 619,874 18
120%
97.6%
Jan-13 1,730 1,470 1,650 25,183 446,947 726,586 21
- Feb-13 1,780 1,590 1,770 22,785 521,572 871,607 20
Mar-13 2,075 1,680 2,025 39,561 759,537 1,407,679 19
-120% Apr-13 2,475 1,950 2,400 27,075 501,903 1,087,356 22
Jun-13 2,875 1,930 2,050 45,363 735,887 1,669,932 19
Jul-13 2,325 1,590 2,075 48,860 935,852 1,864,035 23
Days 245 247 246 244 137 Dec-13 1,810 1,540 1,580 22,377 320,791 543,658 19
Price (Rupiah) Jan-14 1,985 1,580 1,950 39,945 484,540 901,013 20

High 770 710 1,650 2,900 2,860 Feb-14 2,185 1,900 2,145 57,551 850,413 1,734,639 20
Low 300 450 600 1,350 1,580 Mar-14 2,505 2,120 2,390 53,471 842,897 1,956,887 20
Close 680 610 1,480 1,580 2,650 Apr-14 2,535 2,050 2,265 88,318 1,193,527 2,718,051 20
Close* 680 610 1,480 1,580 2,650 May-14 2,475 2,230 2,345 48,610 678,582 1,597,528 18
Jun-14 2,345 2,145 2,215 29,386 300,893 677,128 21
PER (X) 14.26 9.15 17.75 18.65 28.83 Jul-14 2,860 2,205 2,650 53,246 583,781 1,491,132 18
PER Industry (X) 9.97 11.09 17.34 17.79 19.77
PBV (X) 2.25 1.66 3.21 3.13 3.55

Public Accountant : Hadori Sugiarto Adi & Rekan (Member of HLB International)
Receivables 1,422,090 420,573 1,978,912 2,132,198 2,450,444

853,257 872,775 1,138,080 1,118,390 1,019,271 12,000
Inventories
Investment 150,108 164,989 1,208,327 1,583,043 205,806
9,000
Fixed Assets 405,546 753,148 1,168,757 1,640,292 2,031,053
Other Assets 75,040 417,006 73,252 71,743 85,950
6,000
Total Assets 6,286,305 8,322,980 10,945,209 12,594,963 14,606,289
Growth (%) 32.40% 31.51% 15.07% 15.97% 3,000
Bank Payable - - - - -
Growth (%) 39.69% 33.22% 15.21% 6.91%
Paid up Capital 600,154 602,727 610,563 613,997 614,923 4,591

Par Value 100 100 100 100 100
3,654
3,227
2,814
2,219
2,718
Total Equity 1,801,624 2,219,376 2,814,006 3,226,959 4,590,535

1,802
Growth (%) 23.19% 26.79% 14.67% 42.26% 1,781
Total Revenues 6,022,922 7,741,827 9,816,086 11,884,668 5,852,938

Growth (%) 28.54% 26.79% 21.07%
-92
2010 2011 2012 2013 Jun-14
Cost of Revenues 5,390,012 6,978,414 8,902,209 10,562,234 5,184,240

Gross Profit 673,068 864,935 1,111,382 1,583,448 761,474
11,885
Growth (%) 36.88% 29.32% 43.83% 9,816

9,460

6,023 5,853
Tax 162,085 238,660 302,791 392,319 182,957
4,611
Growth (%) 25.61% 29.21% 23.61%

2,187
Dividend (Rp) 17.08 17.28 22.32 27.82 -
624
EPS (Rp) 47.47 58.82 74.99 92.82 45.97 624
BV (Rp) 300.19 368.22 460.89 525.57 746.52 505

DAR (X) 0.70 0.73 0.74 0.74 0.69 497
391
DER(X) 2.43 2.75 2.89 2.90 2.18 348
370
311
ROA (%) 4.95 4.70 4.62 4.96 2.38
ROE (%) 17.28 17.62 17.95 19.35 7.58 242
GPM (%) 11.18 11.17 11.32 13.32 13.01

OPM (%) 7.93 8.44 8.61 10.23 9.98 115
NPM (%) 5.17 5.05 5.15 5.25 5.95

Payout Ratio (%) 35.99 29.38 29.76 29.97 -
-12
2010 2011 2012 2013 Jun-14

Yield (%) 2.51 2.83 1.51 1.76 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
WSKT
WASKITA KARYA (PERSERO) TBK.
Company Profile
The Company was first established as a foreign company under the name "Volker
Aaneming Maatschappij NV" which later became nationalized State Company (PN) Waskita
Karja on March 29, 1961, and the Company at the time was based in Jakarta.
Overall, projects sources from the government still present the most appeal. Civil projects
are continually driven grow and justify investment in new resources (particularly
construction equipment), while building projects still experience selective growth rate. The
Company’s primary product are building and civil construction, as well as EPC. These three
types of service are offered to two principal markets, namely the government and private
sector. The Company must continue to be selective and carefully weigh risks in accepting
projects from private entities for the construction of buildings and civil items.
The Company is currently striving to expand its precast concrete business. The Company
employs two means to meet its need for precast concrete, namely by procuring the same
from external sources and by producing them internally.
The Company’s strategy is realized by achieving the set targets in terms of contract value,
revenue and profit, by employing the following strategies and policies:
• Continuing focus on the core business, supplemented by expansion into new
markets in the relevant business sectors: precast concrete, realty and toll road
investment;
• Focus on the government sector and potential civil projects, particularly large-
scale infrastructure projects;
• Enhancement of competitive advantage through improvements in work systems
and capital structure;
• Enrichment of experience through strategic partnering and EPC activities;
• Focus on the application of value engineering;
• Enhancement of profit margin through cost reduction programs and business
diversification;
• Expansion of overseas market share;
• Upgrading of IT system through the use of the Microsoft Dynamic application.
The Company remains convinced that management preparedness, supported by good
corporate governance, sustainable human resources development and programmed
business strategies, will open opportunities for growth and contribute towards achieving
an even better future for the Company.
August 2014
Disclaimer:

WSKT Waskita Karya (Persero) Tbk. [S]
99 | 7.83T | 0.15% | 86.52%
38 | 6.50T | 0.77% | 70.82%

Established Date : 01-Jan-1961 1. Pemerintah Republik Indonesia 6,549,921,000 : 67.76%
Under Writer IPO :
PT Bahana Securities (affiliated) DIVIDEND ANNOUNCEMENT
PT Danareksa Sekuritas (affiliated) Bonus Cash Recording Payment
F/I
PT Mandiri Sekuritas (affiliated) Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 2012 2.11 10-May-13 13-May-13 15-May-13 29-May-13
PT Datindo Entrycom 2013 11.46 28-Apr-14 29-Apr-14 02-May-14 19-May-14
Puri Datindo - Wisma Sudirman
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 ISSUED HISTORY
Phone : (021) 570-9009 Listing Trading
Fax : (021) 570-9026 No. Type of Listing Shares Date Date
1. First Issue 3,082,315,000 19-Dec-12 19-Dec-12
BOARD OF COMMISSIONERS 2. Company Listing 6,549,921,000 19-Dec-12 19-Dec-12
1. Mohamad Hasan 3. MESOP I 6,973,550 23-May-14 23-May-14
2. Arif Baharudin 4. MESOP I 1,151,500 26-May-14 26-May-14
3. Imam Majdi Achid 5. MESOP I 1,303,000 28-May-14 28-May-14
4. Iwan Nursyirwan Diar *) 6. MESOP I 1,101,000 30-May-14 30-May-14
5. Kohirin Suganda Saputra *) 7. MESOP I 1,042,000 02-Jun-14 02-Jun-14
6. Satya Arinanto 8. MESOP I 896,500 04-Jun-14 04-Jun-14
*) Independent Commissioners 9. MESOP I 537,000 05-Jun-14 05-Jun-14
10. MESOP I 690,000 06-Jun-14 06-Jun-14
BOARD OF DIRECTORS 11. MESOP I 253,900 09-Jun-14 09-Jun-14
1. Muhammad Choliq 12. MESOP I 1,000,000 10-Jun-14 10-Jun-14
2. Didi Triyono 13. MESOP I 37,500 11-Jun-14 11-Jun-14
3. Adhi Wibowo 14. MESOP I 179,500 12-Jun-14 12-Jun-14
4. Agus Sugiono 15. MESOP I 387,000 13-Jun-14 13-Jun-14
5. Desi Arryani 16. MESOP I 107,500 16-Jun-14 16-Jun-14
6. Tunggul Rajagukguk 17. MESOP I 197,500 17-Jun-14 17-Jun-14
18. MESOP I 104,000 18-Jun-14 18-Jun-14
AUDIT COMMITTEE 19. MESOP I 763,000 19-Jun-14 19-Jun-14
1. Iwan Nursyirwan Diar 20. MESOP I 3,215,000 20-Jun-14 20-Jun-14
2. Agus Suparto 21. MESOP I 822,000 25-Jun-14 25-Jun-14
3. Arif Baharudin 22. MESOP I 1,773,000 26-Jun-14 26-Jun-14
4. Mohammad Danial 23. MESOP I 4,049,250 30-Jun-14 30-Jun-14
24. MESOP I 980,000 02-Jul-14 02-Jul-14
CORPORATE SECRETARY 25. MESOP I 2,603,000 03-Jul-14 03-Jul-14
Haris Gunawan 26. MESOP I 3,937,400 04-Jul-14 04-Jul-14
HEAD OFFICE
Gedung Waskita Lt. 9
Jln. M.T. Haryono Kav. No. 10
Cawang, Jakarta - 13340
Phone : (021) 850-8510
Fax : (021) 850-8506
Homepage : www.waskita.co.id
Email : munib@waskita.co.id
haris@waskita.co.id

TRADING ACTIVITIES
Waskita Karya (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
Price* December 2012 - July 2014 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
1,200 1,600 Dec-12 490 420 450 17,534 1,432,023 622,792 6
1,050 1,400 Jan-13 490 425 470 16,190 795,507 361,316 21

Feb-13 630 460 610 25,036 1,549,717 829,186 20
Mar-13 730 580 720 36,894 1,497,699 977,725 19
900 1,200
Apr-13 800 660 770 28,087 1,190,414 861,257 22
May-13 1,080 770 1,050 38,880 1,506,312 1,351,118 22
750 1,000
Jun-13 1,060 710 770 68,307 2,193,824 1,872,431 19
Jul-13 850 620 790 48,239 1,511,901 1,144,500 23
600 800
Aug-13 830 445 550 37,846 1,206,295 744,295 17
Sep-13 680 450 590 50,717 1,781,255 1,024,650 21
450 600 Oct-13 650 550 600 31,903 1,227,099 738,953 21
Nov-13 610 440 455 29,709 907,064 452,235 20
300 400 Dec-13 485 400 405 27,797 812,597 370,734 19
150 200 Jan-14 580 402 540 45,714 1,361,373 694,196 20

Feb-14 690 535 665 39,580 1,445,390 913,294 20
Mar-14 820 645 760 48,633 1,772,927 1,326,054 20
Apr-14 800 665 745 44,750 1,653,393 1,230,960 20
Dec-12 Jun-13 Dec-13 Jun-14
May-14 800 705 720 23,385 703,583 533,679 18
Jun-14 720 640 680 25,205 717,438 487,344 21
Jul-14 870 665 810 48,388 1,657,700 1,311,470 18
Closing Price*, Jakarta Composite Index (IHSG) and
Property, Real Estate and Bulding Construction Index
December 2012 - July 2014
140%
120%
100%
80% 82.0%
60%
40% 41.1%
20% 19.0%
-20%
Dec 12 Jun 13 Dec 13 Jun 14
SHARES TRADED 2012 2013 Jul-14

Volume (Million Sh.) 1,432 16,180 9,312
Value (Billion Rp) 623 10,728 6,497
Frequency (Thou. X) 18 440 276
Days 6 244 137
Price (Rupiah)
High 490 1,080 870
Low 420 400 402
Close 450 405 810
Close* 450 405 810
PER (X) 17.04 24.76 64.29

PER Industry (X) 17.34 17.79 19.77
PBV (X) 2.16 1.85 3.34

Cash & Cash Equivalents 2,183,783 1,119,694 792,269 10,000
Receivables 1,971,997 2,342,084 2,179,069

412,538 292,227 488,315 8,000
Inventories
Investment 50,352 70,168 50,000
6,000
Fixed Assets 239,934 415,440 482,511
Other Assets 19,036 21,180 26,271
4,000
Total Assets 8,366,244 8,788,303 9,134,771
Growth (%) 5.04% 3.94% 2,000
Bank Payable 822,776 874,808 1,655,993 -

Trade Payable 2,002,815 2,291,268 2,080,967 2012 2013 Jun-14
Total Liabilities 6,359,169 6,404,866 6,787,823
Growth (%) 0.72% 5.98%
Authorized Capital 2,600,000 2,600,000 2,600,000 2,383 2,347
Paid up Capital 963,233 963,224 963,224 2,383
2,007
Paid up Capital (Shares) 9,632 9,632 9,632
Par Value 100 100 100
1,897
Retained Earnings 215,174 563,911 513,390

1,411
Total Equity 2,007,075 2,383,437 2,346,949

Growth (%) 18.75% -1.53% 925
Total Revenues 8,808,416 9,686,610 3,181,260

Growth (%) 9.97%
-48
2012 2013 Jun-14
Cost of Revenues 8,076,158 8,775,914 2,869,166

Gross Profit 824,835 1,012,371 356,863
Operating Expenses 196,307 305,473 135,859
Operating Profit 628,528 - - 9,687
9,687
8,808
Growth (%) N/A
7,711
Other Income (Expenses) -168,615 -95,698 -70,798

Income before Tax 459,913 611,201 150,206 5,734
Tax 205,882 243,230 89,460

3,181
Profit for the period 254,031 367,970 60,746
3,758
Growth (%) 44.85%

1,782
Period Attributable 254,031 368,060 60,897 -194
Comprehensive Income 254,363 366,629 59,457 2012 2013 Jun-14

Comprehensive Attributable - 366,719 59,608
Dividend (Rp) 2.11 11.46 -
368
EPS (Rp) 26.37 38.21 6.32 368
BV (Rp) 208.37 247.44 243.65

DAR (X) 0.76 0.73 0.74 293
254
DER(X) 3.17 2.69 2.89
218
ROA (%) 3.04 4.19 0.67

ROE (%) 12.66 15.44 2.59 143
GPM (%) 9.36 10.45 11.22

61
OPM (%) 7.14 - - 68
NPM (%) 2.88 3.80 1.91

Payout Ratio (%) 8.00 30.00 -
-7
2012 2013 Jun-14

Yield (%) 0.47 2.83 -

IDX LQ45 August 2014

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No. Code Stock Name Page

Jakarta Composite Index =

10. Debt to Equity Ratio (DER)

11. Return on Assets (ROA)

12. Return on Equity (ROE)

13. Gross Profit Margin (GPM)

18. [S] Sharia Compliant Stock

20. Comprehensive Attribute : Comprehensive Income attributable to owner’s entity

Jakarta, August 2014

Research and Development Division

© 2014 Indonesia Stock Exchange. All rights reserved.

ASTRA AGRO LESTARI TBK.

2 RESEARCH AND DEVELOPMENT DIVISION

40 | 6.10T | 0.72% | 72.26%

COMPANY HISTORY SHAREHOLDERS (July 2014)

RESEARCH AND DEVELOPMENT DIVISION 3

7,500 4.0 Jan-11 27,000 21,000 21,700 17,601 40,233 959,441 21

Jan-13 20,850 18,750 18,850 10,591 20,796 409,347 21

Price (Rupiah) Jan-14 25,800 20,650 21,475 44,874 40,059 875,810 20

4 RESEARCH AND DEVELOPMENT DIVISION

Receivables 98,832 16,358 50,068 20,554 138,691

Current Liabilities 1,061,852 1,440,351 2,600,540 3,759,265 5,427,462 -

Total Equity 7,211,687 8,426,158 9,365,411 10,267,859 11,046,970

INCOME STATEMENTS Dec-10 Dec-11 Dec-12 Dec-13 Jun-14 2,033

Total Revenues 8,843,721 10,772,582 11,564,319 12,674,999 8,007,691

2010 2011 2012 2013 Jun-14

Cost of Revenues 5,234,372 6,837,674 7,206,837 8,593,064 5,514,260

Tax 860,388 834,367 1,004,627 701,983 579,210

Growth (%) 18.77% 0.87% -24.49%

Period Attributable 2,016,780 2,405,564 2,410,259 1,801,397 1,368,744 -253

DAR (X) 0.15 0.17 0.25 0.31 0.36 1,426

DER(X) 0.19 0.21 0.33 0.46 0.56

ROE (%) 29.17 29.65 26.91 18.53 12.91

OPM (%) 33.91 30.94 - - -

2010 2011 2012 2013 Jun-14

RESEARCH AND DEVELOPMENT DIVISION 5

6 RESEARCH AND DEVELOPMENT DIVISION

17 | 11.5T | 1.36% | 49.97%

COMPANY HISTORY SHAREHOLDERS (July 2014)

RESEARCH AND DEVELOPMENT DIVISION 7

1,000 60 Jan-11 930 760 790 4,882 113,072 95,505 21

Price (Rupiah) Jan-14 1,850 1,425 1,780 34,825 523,862 885,065 20

8 RESEARCH AND DEVELOPMENT DIVISION

Receivables 1,657,387 1,657,080 2,332,098 2,705,085 3,039,064

Bank Payable 192,017 200,920 211,800 581,266 -

Paid up Capital (Shares) 1,801 1,801 1,801 1,801 1,801 1,181

Total Equity 861,113 990,368 1,180,919 1,548,463 1,485,648

INCOME STATEMENTS Dec-10 Dec-11 Dec-12 Dec-13 Jun-14 285

Total Revenues 5,674,980 6,695,112 7,627,703 9,799,598 3,192,963

2010 2011 2012 2013 Jun-14

Cost of Revenues 4,964,348 5,960,704 6,671,815 8,606,444 2,922,837

Growth (%) -24.92% N/A

Tax 130,627 143,687 209,998 305,927 97,610

Growth (%) -3.94% 16.76% 91.47%

Period Attributable 189,484 182,116 211,590 405,977 59,914 -196

BV (Rp) 478.05 549.80 655.59 859.63 824.76

DER(X) 4.71 5.17 5.67 5.28 5.54

GPM (%) 13.55 11.93 13.68 12.73 8.55

NPM (%) 3.35 2.73 2.80 4.17 1.90

2010 2011 2012 2013 Jun-14

RESEARCH AND DEVELOPMENT DIVISION 9

As at June 30th, 2014 the Group had 6,654 permanent employees.