IDX LQ45 February 2014 PDF

IDX LQ45
February 2014
Contents
Forewords
LQ45 Index Constituents for the period of February July 2014
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. ASII Astra International Tbk. [S] (Automotive and Components, 42) ........................................................................................................ 18
6. ASRI Alam Sutera Realty Tbk. [S] (Property and Real Estate, 61) .............................................................................................................. 22
7. BBCA Bank Central Asia Tbk. (Bank, 81)................................................................................................................................................................... 26
8. BBNI Bank Negara Indonesia (Persero) Tbk. (Bank, 81) .................................................................................................................................. 30
9. BBRI Bank Rakyat Indonesia (Persero) Tbk. (Bank, 81) ................................................................................................................................. 34
10. BDMN Bank Danamon Tbk. (Bank, 81). ....................................................................................................................................................................... 38
11. BKSL Sentul City Tbk. [S] (Property and Real Estate, 61). ............................................................................................................................... 42
12. BMRI Bank Mandiri (Persero) Tbk. (Bank, 81) ........................................................................................................................................................ 46
13. BMTR Global Mediacom Tbk. [S] (Investment Company, 98)........................................................................................................................... 50
14. BSDE Bumi Serpong Damai Tbk. [S] (Property and Real Estate, 61) .......................................................................................................... 54
15. CPIN Charoen Pokphand Indonesia Tbk. [S] (Animal Feed,36) .................................................................................................................... 58
16. CTRA Ciputra Development Tbk. [S] (Property and Real Estate,61) ............................................................................... 62
17. EXCL XL Axiata Tbk. [S] (Telecommunication,73) ................................................................................................................................................ 66
18. GGRM Gudang Garam Tbk. (Tobacco Manufacturers, 52) ................................................................................................................................. 70
19. HRUM Harum Energy Tbk. [S] (Coal Mining, 21)..................................................................................................................................................... 74
20. ICBP Indofood CBP Sukses Makmur Tbk. [S] (Food and Beverages, 51) ............................................................................................. 78
21. INDF Indofood Sukses Makmur Tbk. [S] (Food and Beverages, 51) .......................................................................................................... 82
22. INTP Indocement Tunggal Prakasa Tbk. [S] (Cement, 31).............................................................................................................................. 86
23. ITMG Indo Tambangraya Megah Tbk. [S] (Coal Mining, 21)............................................................................................................................ 90
24. JSMR Jasa Marga (Persero) Tbk. [S] (Toll Road, Airport, Harbor and Allied Products, 72) .............................................................. 94
25. KLBF Kalbe Farma Tbk. [S] (Pharmaceuticals, 53) .............................................................................................................................................. 98
26. LPKR Lippo Karawaci Tbk. [S] (Property and Real Estate, 61) ....................................................................................................................... 102
27. LSIP PP London Sumatera Tbk. [S] (Plantation,12) ........................................................................................................................................... 106
28. MAIN Malindo Feedmill Tbk. [S] (Animal Feed,36) ............................................................................................................................................... 110
29. MLPL Multipolar Tbk. [S] (Investment Company,98) ............................................................................................................................................ 114
30. MNCN Media Nusantara Citra Tbk. [S] (Advertising, Printing and Media,95) ............................................................................................ 118
31. PGAS Perusahaan Gas Negara (Persero) Tbk. [S] (Energy, 71).................................................................................................................... 122
32. PTBA Tambang Batubara Bukit Asam (Persero) Tbk. [S] (Coal Mining, 21) ............................................................................................ 126
33. PTPP PP (Persero) Tbk. [S] (Building Construction, 62) ................................................................................................ 130
34. PWON Pakuwon Jati Tbk. [S] (Property and Real Estate, 61) ........................................................................................................................... 134
35. SMGR Semen Indonesia (Persero) Tbk. [S] (Cement, 31).................................................................................................................................. 138
36. SMRA Summarecon Agung Tbk. [S] (Property and Real Estate, 61) ............................................................................... 142
37. SSIA Surya Semesta Internusa Tbk. [S] (Building Construction, 62) .......................................................................................................... 146
38. TAXI Express Transindo Utama Tbk. [S] (Transportation, 74) ....................................................................................... 150
39. TBIG Tower Bersama Infrastructure Tbk. (Non Building Construction, 75)..................................................................... 154
40. TLKM Telekomunikasi Indonesia (Persero) Tbk. [S] (Telecommunication, 73) ....................................................................................... 158
41. UNTR United Tractors Tbk. [S] (Wholesale (Durable and Non-Durable Goods, 91)......................................................... 162
42. UNVR Unilever Indonesia Tbk. [S] (Cosmetics and Household, 54).............................................................................................................. 166
43. VIVA Visi Media Asia Tbk. [S] (Advertising, Printing and Media, 95) .............................................................................. 170
44. WIKA Wijaya Karya (Persero) Tbk. [S] (Building Construction, 62) .............................................................................................................. 172
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 owners 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 owners entity
20. Comprehensive Attribute : Comprehensive Income attributable to owners 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, February 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 February July 2014
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,consultationandservices.

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.

PTAstraInternationalTbk.istheparententityoftheCompany,whereasJardineMatheson
HoldingsLtd,incorporatedinBermuda,isitsultimateparententity.

As of December 31st, 2013, the Company and subsidiaries had 29,766 permanent
employees.
January 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 : JANUARY 2014 As of 30 January 2014
Main Board Individual Index : 1,662.576
Industry Sector : Agriculture (1) Listed Shares : 1,574,745,000
Industry Sub Sector : Plantation (12) Market Capitalization : 33,817,648,875,000
23 | 33.8T | 0.78% | 60.94%
52 | 5.68T | 0.51% | 76.01%
COMPANY HISTORY SHAREHOLDERS (January 2014)

Established Date : 03-Oct-1988 1. PT Astra International Tbk. 976,231,238 : 61.99%
Listing Date : 09-Dec-1997 2. PT Astra International Tbk. 278,599,850 : 17.69%
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
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. Patrick Morris Alexander *) 2004 150.00 06-Jun-05 07-Jun-05 09-Jun-05 23-Jun-05 F
7. Simon Collier Dixon 2005 325.00 12-May-06 15-May-06 17-May-06 01-Jun-06 F
*) Independent Commissioners 2006 95.00 17-Oct-06 18-Oct-06 20-Oct-06 10-Nov-06 I
2006 230.00 11-Jun-07 12-Jun-07 14-Jun-07 25-Jun-07 I
BOARD OF DIRECTORS 2007 190.00 19-Oct-07 22-Oct-07 24-Oct-07 02-Nov-07 I
1. Widya Wiryawan 2007 625.00 16-Jun-08 17-Jun-08 19-Jun-08 30-Jun-08 F
2. Bambang Palgoenadi 2008 350.00 23-Oct-08 24-Oct-08 28-Oct-08 11-Nov-08 I
3. Jamal Abdul Nasser 2008 155.00 04-Jun-09 05-Jun-09 09-Jun-09 23-Jun-09 F
4. Joko Supriyono 2009 220.00 30-Oct-09 02-Nov-09 04-Nov-09 11-Nov-09 I
5. Juddy Arianto 2009 685.00 08-Jun-10 09-Jun-10 11-Jun-10 25-Jun-10 F
6. Rudy 2010 190.00 26-Oct-10 27-Oct-10 29-Oct-10 12-Nov-10 I
2010 640.00 20-May-11 23-May-11 25-May-11 09-Jun-11 F
AUDIT COMMITTEE 2011 300.00 24-Oct-11 25-Oct-11 27-Oct-11 10-Nov-11 I
1. Anugerah Pekerti 2011 695.00 08-May-12 09-May-12 14-May-12 29-May-12 F
2. Purnama Setiawan 2012 230.00 16-Oct-12 17-Oct-12 19-Oct-12 05-Nov-12 I
3. Siti Nurwahyuningsih 2012 455.00 15-May-13 16-May-13 20-May-13 03-Jun-13 F
2013 160.00 02-Oct-13 03-Oct-13 07-Oct-13 23-Oct-13 I
CORPORATE SECRETARY
Rudy ISSUED HISTORY
Listing Trading
HEAD OFFICE No. Type of Listing Shares Date Date
Jln. Puloayang Raya Blok OR - I, 1. First Issue 125,800,000 09-Dec-97 09-Dec-97
Kawasan Industri Pulogadung 2. Company Listing 1,132,200,000 T: 09-Dec-97 : 21-Jul-98
Jakarta - 13930 3. Bonus Shares 251,600,000 06-Jul-99 06-Jul-99
Phone : (021) 461-6555 4. Option Conversion 12,005,000 T: 22-Apr-02 : 07-Jun-02
Fax : (021) 461-6682, (021) 461-6689 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
Homepage : www.astra-agro.co.id 7. Option Conversion I 60,000 T: 14-Jan-03 : 31-Jan-03
Email : Investor@astra-agro.co.id 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 - January 2014 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
28,000 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
24,500 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
21,000 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
17,500 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
14,000 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
10,500 6.0 Dec-10 27,650 23,100 26,200 14,520 37,879 958,400 20
7,000 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
3,500 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 - January 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% 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
71.6%
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%
Sep-12 23,400 19,350 21,950 14,218 33,952 728,250 20
8.5% 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
-10.0%
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 Jan-14 Aug-13 19,800 13,100 19,750 19,132 37,761 640,710 17
Volume (Million Sh.) 408 273 268 388 40 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 7,542 876 Oct-13 21,300 18,500 18,600 10,945 21,638 435,579 21
Frequency (Thou. X) 151 135 126 167 45 Nov-13 23,400 18,050 22,250 12,858 35,024 759,116 20
Days 245 247 246 244 20 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 25,800
Low 17,050 16,550 17,800 13,100 20,650
Close 26,200 21,700 19,700 25,100 21,475
Close* 26,200 21,700 19,700 25,100 21,475
PER (X) 20.46 13.68 12.64 32.54 27.84

PER Industry (X) 0.14 1.79 33.17 20.59 20.99
PBV (X) 5.72 4.06 3.31 4.26 3.64
* 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-09 Dec-10 Dec-11 Dec-12 Dec-13 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
(Million Rp except Par Value) Assets Liabilities
Cash & Cash Equivalents 788,549 1,240,781 838,190 227,769 709,090 15,000
Receivables 156,724 98,832 16,358 50,068 20,554

610,031 624,694 769,903 1,249,050 802,978 12,000
Inventories
Current Assets 1,714,426 2,051,177 1,886,387 1,780,395 1,691,694
9,000
Fixed Assets 2,444,959 2,686,910 3,424,194 4,918,673 6,493,712
Other Assets 157,888 180,232 285,155 150,998 422,305
6,000
Total Assets 7,571,399 8,791,799 10,204,495 12,419,820 14,963,190
Growth (%) 16.12% 16.07% 21.71% 20.48% 3,000
Current Liabilities 938,976 1,061,852 1,440,351 2,600,540 3,759,265 -

Long Term Liabilities 205,807 272,690 337,986 453,869 936,066 2009 2010 2011 2012 2013
Total Liabilities 1,144,783 1,334,542 1,778,337 3,054,409 4,695,331
Growth (%) 16.58% 33.25% 71.76% 53.72%
TOTAL EQUITY (Bill. Rp)
Authorized Capital 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 10,268
Paid up Capital 787,373 787,373 787,373 787,373 787,373 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

8,173
7,212
6,226
Retained Earnings 5,355,389 6,340,711 7,268,639 8,158,203 8,087,559
6,079
Total Equity 6,226,365 7,211,687 8,426,158 9,365,411 10,267,859

Growth (%) 15.82% 16.84% 11.15% 9.64% 3,984
INCOME STATEMENTS Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 1,889
Total Revenues 7,424,283 8,843,721 10,772,582 11,564,319 12,674,999

Growth (%) 19.12% 21.81% 7.35% 9.60%
-205
2009 2010 2011 2012 2013
Cost of Revenues 4,322,498 5,234,372 6,837,674 7,206,837 8,593,064

Gross Profit 3,101,785 3,609,349 3,934,908 4,357,482 4,081,935
TOTAL REVENUES (Bill. Rp)
Expenses (Income) 491,567 610,638 601,976 832,589 1,476,864
Operating Profit 2,610,218 2,998,711 3,332,932 - - 12,675
12,675
11,564
Growth (%) 14.88% 11.15% 10,773
10,089
8,844
Other Income (Expenses) -109,792 -34,671 - - -
7,424
Income before Tax 2,500,426 2,964,040 3,332,932 3,524,893 2,605,071 7,504
Tax 770,778 860,388 834,367 1,004,627 701,983

Profit for the period 1,729,648 2,103,652 2,498,565 2,520,266 1,903,088
4,918
Growth (%) 21.62% 18.77% 0.87% -24.49%

2,332
Period Attributable 1,729,648 2,016,780 2,405,564 2,410,259 1,801,397 -253
Comprehensive Income 1,660,649 2,103,652 2,498,565 2,453,654 1,936,250 2009 2010 2011 2012 2013
Comprehensive Attributable - 2,016,780 2,405,564 2,346,203 1,833,891
RATIOS Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 PROFIT FOR THE PERIOD (Bill. Rp)
Current Ratio (%) 182.58 193.17 130.97 68.46 45.00
2,499 2,520
Dividend (Rp) 905.00 830.00 995.00 685.00 160.00
1,098.37 1,280.70 1,527.59 1,530.57 1,143.93 2,104
EPS (Rp)
1,903
BV (Rp) 3,953.89 4,579.59 5,350.81 5,947.26 6,520.33 2,006
1,730
DAR (X) 0.15 0.15 0.17 0.25 0.31
1,492
DER(X) 0.18 0.19 0.21 0.33 0.46

ROA (%) 22.84 23.93 24.48 20.29 12.72 978
ROE (%) 27.78 29.17 29.65 26.91 18.53

GPM (%) 41.78 40.81 36.53 37.68 32.20 464
OPM (%) 35.16 33.91 30.94 - -

NPM (%) 23.30 23.79 23.19 21.79 15.01
-50
2009 2010 2011 2012 2013

Payout Ratio (%) 82.40 64.81 65.14 44.75 13.99
Yield (%) 3.98 3.17 4.59 3.48 0.64

COMPANY REPORT
ADHI
ADHI KARYA (PERSERO) TBK.
Company Profile

ThenameAdhiKaryamentionedforthefirsttimeintheDecreeoftheMinisterofPublic
WorksandLabordated11thofMarch1960.In1974,basedonActNo.1datedJune1st,
1974junctoAmendmentActNo.2datedDecember3rd,1974bothbyKartiniMuljadi,
S.H.,NotaryinJakarta,PTAdhiKarya(Persero)(theCompany)wasestablished.

TheCompanysscopeofbusinesscomprisesof:
1. Construction,
2. Management consultation and Industrial engineering (Engineering
ProcurementandConstruction/EPC),
3. Property,Hotel,andRealEstate,
4. Investment, General trading, procurement services, manufacturing (Precast),
servicesininformationtechnology,realestateandagroindustry.

CurrentlytheCompanysmainactivitiesareinconstruction,EPC,property,realestate,
InfrastructureInvestmentandprocurementservices

TheCompanyhasownershipinsubsidiaries:PTAdhiPersadaProperti,PTAdhiPersada
RealtiandAdhiMultipower,Pte.,Ltd.

AsofDecember31st,2013,theCompanyhad1,325permanentemployees.
January 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 : 3,206,349,600,000
162 | 3.21T | 0.07% | 93.88%
49 | 6.05T | 0.55% | 74.44%

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
Wisma Sudirman - Puri Datindo 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 A. 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 07-Apr-14 08-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. Anis Anjayani 3. Employee Management Buy Out (EMBO) 441,320,000 18-Mar-04 03-Jul-06
3. BEP Adji Satmoko 4. Employee Stock Allocation (ESA) 44,132,000 18-Mar-04 26-Jun-04
4. Djoko Prabowo
5. Giri Sudaryono
6. Supardi
AUDIT COMMITTEE
1. Murhadi
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 - January 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% 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
334.1%
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
Dec-12 2,100 1,630 1,760 24,655 363,628 674,866 18
130% 149.6%
71.6% 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 5,112 524 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 11,472 885 Oct-13 2,150 1,830 1,950 44,551 759,652 1,504,721 21
Days 245 247 246 244 20 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 1,850
Low 370 435 570 1,460 1,425
Close 910 580 1,760 1,510 1,780
Close* 910 580 1,760 1,510 1,780
PER (X) 8.65 5.72 14.84 11.35 13.38

PER Industry (X) 9.97 11.09 17.34 17.79 16.27
PBV (X) 1.90 1.05 2.68 2.06 2.43

Public Accountant : Aryanto, Amir Jusuf, Mawar & Saptoto (Member of RSM International)
Cash & Cash Equivalents 306,902 242,118 552,203 948,846 1,939,960 10,000
Receivables 1,789,279 1,657,387 1,657,080 2,332,098 2,705,085

510,174 61,766 68,562 116,552 161,560 8,000
Inventories
Investment 180,132 46,234 197,644 62,804 60,034
6,000
Fixed Assets 80,870 186,401 220,861 187,437 271,257
Other Assets 1,951 8,387 18,154 34,248 65,081
4,000
Total Assets 5,629,454 4,927,696 6,112,954 7,872,074 9,720,962
Growth (%) -12.47% 24.05% 28.78% 23.49% 2,000
Bank Payable - 192,017 200,920 211,800 -

Trade Payable 2,849,719 2,214,234 3,132,496 4,276,690 4,767,420 2009 2010 2011 2012 2013
Growth (%) -16.95% 26.17% 30.62% 22.14%
Authorized Capital 544,000 544,000 544,000 544,000 544,000 1,548
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 528,868 668,355 790,784 943,642 1,307,301 861
917
Total Equity 731,200 861,113 990,368 1,180,919 1,548,463 731
Growth (%) 17.77% 15.01% 19.24% 31.12% 601
INCOME STATEMENTS Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 285
Total Revenues 7,714,614 5,674,980 6,695,112 7,627,703 9,799,598

Growth (%) -26.44% 17.98% 13.93% 28.47%
-31
2009 2010 2011 2012 2013
Cost of Revenues 7,059,135 4,964,348 5,960,704 6,671,815 8,606,444

Gross Profit 751,880 769,110 799,042 1,043,220 1,247,711
Operating Expenses 215,061 218,276 385,498 531,378 425,009
Operating Profit 536,819 550,834 413,544 - - 9,800
9,800
Growth (%) 2.61% -24.92%

7,715 7,628
7,800
6,695
Other Income (Expenses) -205,046 -230,014 -87,164 -88,526 -108,337
5,675
Income before Tax 331,773 320,820 326,380 423,315 714,365 5,801
Tax 168,850 130,627 143,687 209,998 305,927

Profit for the period 162,924 190,194 182,693 213,318 408,438
3,802
Growth (%) 16.74% -3.94% 16.76% 91.47%

1,803
Period Attributable 162,924 189,484 182,116 211,590 405,977 -196
Comprehensive Income 165,530 181,525 182,727 213,651 409,862 2009 2010 2011 2012 2013
Comprehensive Attributable - 180,815 182,150 211,924 407,401
Dividend (Rp) 28.26 32.35 30.33 23.49 67.61
408
EPS (Rp) 90.45 105.19 101.10 117.46 225.38 408
BV (Rp) 405.92 478.05 549.80 655.59 859.63

DAR (X) 0.87 0.82 0.84 0.85 0.84 325
DER(X) 6.69 4.71 5.17 5.67 5.28

242 213
ROA (%) 2.89 3.86 2.99 2.71 4.20 190 183
163
ROE (%) 22.28 22.09 18.45 18.06 26.38 158
GPM (%) 9.75 13.55 11.93 13.68 12.73

OPM (%) 6.96 9.71 6.18 - - 75
NPM (%) 2.11 3.35 2.73 2.80 4.17

Payout Ratio (%) 31.24 30.75 30.00 20.00 30.00
-8
2009 2010 2011 2012 2013

Yield (%) 6.89 3.55 5.23 1.33 4.48

COMPANY REPORT
ADRO
ADARO ENERGY TBK.
Company Profile
PTAdaroEnergyTbk.wasestablishedJuly28th,2004.TheCompanyisengagedintrading,
services, industry, coal hauling, workshop activities, mining and construction. The
Companys subsidiaries are engaged in coal mining, coal trading, mining contractor
services,infrastructure,coallogisticsandpowergenerationactivities.

The Company commenced its commercial operations in July 2005. The Companys head
office is domiciled in Jakarta and located at Menara Karya Building, 23rd Floor, Jln. H.R.
RasunaSaidBlockX5,Kav.12,SouthJakarta.

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
frompittoporttopower,includinginmining,barging,shiploading,dredging,portservices,
marketingandpowergeneration.

The subsidiaries combine with a range of contractors to produce and deliver coal with
industryleadingefficiencyandlowcost.

AsatDecember31st,2013theGrouphad8,986permanentemployees(unaudited).
January 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 : 86.364
Industry Sector : Mining (2) Listed Shares : 31,985,962,000
Industry Sub Sector : Coal Mining (21) Market Capitalization : 30,386,663,900,000
27 | 30.4T | 0.70% | 63.84%
24 | 11.4T | 1.03% | 56.93%

Established Date : 28-Jul-2004 1. PT Adaro Strategic Investments 14,045,425,500 : 43.91%
Listing Date : 16-Jul-2008 2. Garibaldi Thohir 1,986,032,654 : 6.21%
Under Writer IPO : 3. Public (<5%) 15,954,503,846 : 49.88%
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 21.35 28-Nov-11 29-Nov-11 01-Dec-11 09-Dec-11 I
2. Palgunadi Tatit Setyawan *) 2011 53.66 29-May-12 30-May-12 01-Jun-12 12-Jun-12 F
3. Raden Pardede *) 2012 12.13 29-May-12 30-May-12 01-Jun-12 12-Jun-12 I
4. Subianto 2012 10.65 26-Dec-12 27-Dec-12 02-Jan-13 15-Jan-13 I
5. Theodore Permadi Rachmat 2012 12.36 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
BOARD OF DIRECTORS ISSUED HISTORY

1. Garibaldi Thohir Listing Trading
2. Chia Ah Hoo No. Type of Listing Shares Date Date
3. Christian Ariano Rachmat 1. First Issue 11,139,331,000 16-Jul-08 16-Jul-08
4. David Tendian 2. Company Listing 20,846,631,000 16-Jul-08 16-Apr-09
5. Julius Aslan
6. M. Syah Indra Aman
7. Sandiaga S. Uno
AUDIT COMMITTEE
1. Palgunadi Tatit Setyawan
2. Irwandy Arif
3. Mamat Ma'mun
CORPORATE SECRETARY
Devindra Ratzarwin
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 - January 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% 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
71.6%
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%
-40.2% Jan-13 1,770 1,590 1,650 35,702 693,704 1,175,414 21

-50% -45.7%
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 Jan-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 1,718 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 1,651 Oct-13 1,130 890 1,020 42,712 1,230,844 1,250,459 21
Frequency (Thou. X) 523 500 392 469 67 Nov-13 1,240 1,010 1,130 49,717 1,820,926 2,085,692 20
Days 245 247 246 244 20 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 1,110
Low 1,700 1,430 1,180 640 870
Close 2,550 1,770 1,590 1,090 950
Close* 2,550 1,770 1,590 1,090 950
PER (X) 36.95 11.16 13.78 12.26 10.68

PER Industry (X) 17.69 16.17 8.49 19.30 13.24
PBV (X) 4.39 2.56 1.76 0.96 0.83

Cash & Cash Equivalents 11,274,623 5,459,971 5,067,851 4,838,559 8,354,692 87,500
Receivables 2,903,619 2,504,335 4,396,801 4,692,058 3,822,657

250,450 288,732 475,345 623,589 1,260,706 70,000
Inventories
Current Assets 15,836,859 10,200,290 11,765,957 13,672,171 16,820,685
52,500
Fixed Assets 7,415,677 8,810,252 12,988,087 17,106,385 20,930,154
Other Assets 51,607 72,947 125,873 96,226 248,811
35,000
Total Assets 42,465,408 40,600,921 51,315,458 64,714,116 82,623,566
Growth (%) -4.39% 26.39% 26.11% 27.67% 17,500
Current Liabilities 7,996,026 5,793,531 7,065,795 8,695,486 9,493,041 -

Long Term Liabilities 16,957,448 16,176,838 22,103,586 27,056,457 33,927,838 2009 2010 2011 2012 2013
Growth (%) -11.95% 32.77% 22.57% 21.45%
Paid up Capital 3,198,596 3,198,596 3,198,596 3,198,596 3,198,596 39,203
Paid up Capital (Shares) 31,986 31,986 31,986 31,986 31,986

28,962
Par Value 100 100 100 100 100
31,205
Retained Earnings 4,028,127 5,376,617 8,542,056 10,314,612 14,940,038 22,146

23,208
Total Equity 17,444,891 18,576,441 22,146,078 28,962,172 39,202,687 17,445 18,576
Growth (%) 6.49% 19.22% 30.78% 35.36% 15,211
Total Revenues 26,938,020 24,689,333 36,157,789 35,996,469 40,308,692

Growth (%) -8.35% 46.45% -0.45% 11.98%
-784
2009 2010 2011 2012 2013
Cost of Revenues 15,900,123 16,957,291 23,205,121 25,914,314 31,238,880

Gross Profit 11,037,897 7,732,042 12,952,668 10,082,155 9,069,812
Expenses (Income) 1,109,450 957,764 1,313,246 1,994,321 2,514,135
Operating Profit 9,928,447 6,774,278 11,639,422 8,087,833 6,555,677 40,309
36,158 35,996
40,309
Growth (%) -31.77% 71.82% -30.51% -18.94%

32,086
26,938
Other Income (Expenses) -1,350,066 -1,724,360 -2,547,745 -1,186,122 -1,411,062 24,689
Tax 4,119,101 2,668,668 4,085,207 3,195,132 2,331,558

15,640
Growth (%) -49.81% 125.90% -25.96% -24.11%

7,417
Current Ratio (%) 198.06 176.06 166.52 157.23 177.19
5,006
Dividend (Rp) 29.00 30.35 75.01 35.14 - 5,006
4,416
EPS (Rp) 138.05 69.37 156.03 116.50 88.70
3,707
BV (Rp) 545.39 580.77 692.37 905.47 1,225.62 3,985
DAR (X) 0.59 0.54 0.57 0.55 0.53 2,813

2,964
DER(X) 1.43 1.18 1.32 1.23 1.11 2,216

ROA (%) 10.40 5.46 9.76 5.73 3.40 1,943
ROE (%) 25.31 11.93 22.61 12.80 7.18

GPM (%) 40.98 31.32 35.82 28.01 22.50 921
OPM (%) 36.86 27.44 32.19 22.47 16.26

NPM (%) 16.39 8.98 13.85 10.30 6.98
-100
2009 2010 2011 2012 2013

Payout Ratio (%) 21.01 43.75 48.08 30.17 -
Yield (%) 1.68 1.19 4.24 2.21 -

COMPANY REPORT
AKRA
AKR CORPORINDO TBK.
Company Profile

PTAKRCorporindoTbk.wasestablishedinSurabayaonNovember28th,1977andstarted
its commercial operations in June 1978. The Company is currently engaged in the
distribution of petroleum products to industrial customers, distribution and trading of
chemicalproducts(suchascausticsoda,sodiumsulphate,PVCresinandsodaash)usedby
variousindustriesinIndonesiainaccordancewithdistributorshipagreementswithforeign
and local manufacturers, rental of warehouses, transportation vehicles, tanks, and other
logisticservices.

As of 2013, through evaluation and selection process, the Company is appointed by BPH
Migas as one of the companies entitled to supply and distribute subsidized petroleum.
Initially, the Company has been allocated 267,892 KL of subsidized petroleum for
distribution in 2013. As of early June 2013, the allocation quota for the year 2013 for
distributionofMogasgasolineRON88anddieselhasbeenincreasedto880,850KL.The
areaofdistributionisnowexpandedtoincludecitiesintheprovinceofNorthSumatera,
Lampung, DKI Jakarta, Yogyakarta, South Kalimantan, West Kalimantan, East Kalimantan,
Banten,WestJava,CentralJava,EastJava,Bali,andSouthSulawesi.

TheCompanyisdomiciledatWismaAKR,8thFloor,JIn.PanjangNo.5,KebonJeruk,Jakarta.
Its major branch office is located at JI. Sumatra No. 5153, Surabaya. Other sales offices
also the tank terminals are located in Medan, Palembang, Lampung, Ciwandan (Banten),
Bandung, Semarang, Pontianak, Balikpapan, Banjarmasin, Stagen (South Kalimantan),
Makassar, Manado, and Bali. The Company also has a representative office in Guigang,
China.

The Company has ownership in subdidiaries: PT Usaha Era Pratama Nusantara, PT
Andahanesa Abadi, PT Arjuna Utama Kimia, PT Anugrah Karya Raya and subsidiaries, PT
JakartaTankTerminal,Khalista(Liuzhou)ChemicallndustriesLtd.,AKR(Guigang)PortCo.
Ltd.,AKR(Guangxi)CoalTradingCo.Ltd.,Guangxi(Guigang)AKRContainerPortCo.Ltd.,
AKR(Guigang)TransshipmentPortCo.Ltd.,PTAKRSeaTransport,PTAKRNiagaIndonesia,
PT AKR Transportasi Indonesia, PT Bumi Karunia Pertiwi, PT Sarana Tambang Utama, PT
RizkiTambangSelaras,PTMineralTambangWahana,andPTBarutaAbadi.

TheCompanyanditsSubsidiarieshadtotalpermanentemployeesof2,482asofDecember
31th,2013.
January 2014
Disclaimer:

AKRA AKR Corporindo Tbk. [S]
Industry Sector : Trade, Services & Investment (9) Listed Shares : 3,880,727,500
Industry Sub Sector : Wholesale (Durable & Non-Durable Goods) (91) Market Capitalization : 17,075,201,000,000
44 | 17.1T | 0.39% | 73.09%
23 | 11.6T | 1.05% | 55.89%

Established Date : 28-Nov-1977 1. PT Arthakencana Rayatama 2,296,640,320 : 59.18%
Listing Date : 03-Oct-1994 2. Public (<5%) 1,584,087,180 : 40.82%
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 1996 10 : 6 26-Feb-96 27-Feb-96 06-Mar-96 29-Mar-96
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
3. Subarto Zaini ISSUED HISTORY
Listing Trading
CORPORATE SECRETARY No. Type of Listing Shares Date Date
Harryati Utami 1. First Issue 15,000,000 03-Oct-94 03-Oct-94
2. Company Listing 50,000,000 T: 03-Oct-94 : 06-May-95
HEAD OFFICE 3. Bonus Shares 39,000,000 01-Apr-96 01-Apr-96
Wisma AKR 7th - 8th Fl. 4. Stock Split 2,600,000,000 T: 30-Sep-96 : 27-Jul-07
Jln. Panjang No. 5, Kebon Jeruk 5. Right Issue 1,043,658,500 T: 20-Dec-04 : 16-Feb-10
Jakarta 6. OPSI Conversion 18,292,500 T: 11-Apr-08 : 15-Oct-09
Phone : (021) 531-1110 7. Opsi MSOP Conversion I, II & III 26,537,500 T: 09-Apr-10 : 13-Oct-10
Fax : (021) 531-1185, 531-1388, 531-1128 8. Opsi MSOP Conversion I & III 447,500 T: 12-Apr-10 : 15-Apr-10
9. Opsi MSOP Conversion II, III & IV 28,607,500 T: 13-Apr-11 : 14-Apr-11
Homepage : www.akr.co.id 10. Opsi MSOP Conversion II, III, IV 432,500 12-Oct-11 12-Oct-11
Email : harryati.utami@akr.co.id 11. Opsi MSOP Conversion IV 195,000 T: 13-Oct-11 : 12-Apr-13
tami@akr.co.id 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

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 - January 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
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% 180.6%
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
Dec-12 4,325 3,950 4,150 16,535 226,058 935,688 18
71.6%
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 Jan-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 2,637 152 Sep-13 4,650 3,500 4,000 22,308 275,681 1,093,424 21
Days 245 247 246 244 20 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 4,820
Low 880 1,350 3,000 3,475 4,175
Close 1,730 3,025 4,150 4,375 4,400
Close* 1,730 3,025 4,150 4,375 4,400
PER (X) 21.10 22.62 21.15 24.25 24.39

PER Industry (X) 21.27 16.89 19.08 15.43 17.12
PBV (X) 2.75 3.23 3.80 3.16 3.18

Public Accountant : Purwantono, Suherman & Surja (Member of Ernst & Young Global Limited)
Cash & Cash Equivalents 273,694 691,848 1,329,789 1,884,943 820,065 15,000
Receivables 1,411,368 1,685,658 2,189,012 3,224,397 4,351,773

709,518 1,424,614 1,250,135 1,415,169 1,823,246 12,000
Inventories
Current Assets 2,694,116 4,028,178 5,239,361 7,414,601 7,723,315
9,000
Fixed Assets 2,859,238 3,037,893 2,437,215 3,177,350 4,226,692
Other Assets 41,770 54,569 40,371 24,372 20,218
6,000
Total Assets 6,059,070 7,665,590 8,308,244 11,787,525 14,633,141
Growth (%) 26.51% 8.38% 41.88% 24.14% 3,000

Long Term Liabilities 1,021,968 962,539 873,528 2,435,399 2,676,688 2009 2010 2011 2012 2013
Growth (%) 25.43% -1.52% 60.09% 22.33%
Paid up Capital 313,829 379,294 382,199 385,144 388,073
Par Value 100 100 100 100 100
4,269
3,575
3,175
Total Equity 1,741,060 2,386,407 3,574,704 4,209,740 5,363,161 2,386

Growth (%) 37.07% 49.79% 17.76% 27.40% 2,081 1,741
Total Revenues 8,959,842 12,194,997 18,805,950 21,673,954 22,337,928

Growth (%) 36.11% 54.21% 15.25% 3.06%
-107
2009 2010 2011 2012 2013
Cost of Revenues 8,006,211 11,235,313 17,787,552 20,412,678 20,970,288

Gross Profit 953,631 959,684 1,018,398 1,261,276 1,367,641
Expenses (Income) 413,663 498,761 302,869 430,920 600,059
Operating Profit 539,968 460,923 715,529 830,356 767,582 21,674 22,338
22,338
Growth (%) -14.64% 55.24% 16.05% -7.56% 18,806

17,781
Other Income (Expenses) -71,713 -40,832 24,443 -20,673 -37,581

468,256 420,091 739,972 809,682 733,053 12,195
Income before Tax 13,224
Tax 128,359 80,999 145,838 190,849 117,426 8,960

Profit for the period 339,896 339,092 2,284,080 618,833 615,627
8,667
Growth (%) -0.24% 573.59% -72.91% -0.52%

4,110
Period Attributable 339,896 310,916 2,293,427 649,314 648,250 -447
Comprehensive Income 274,719 311,166 2,331,631 755,870 980,588 2009 2010 2011 2012 2013
Comprehensive Attributable - 290,721 2,339,138 775,371 969,250
Current Ratio (%) 95.87 104.79 135.73 144.19 117.14
2,284
Dividend (Rp) 25.00 167.00 225.00 105.00 50.00 2,284
EPS (Rp) 108.31 81.97 600.06 168.59 167.04

BV (Rp) 554.78 629.17 935.30 1,093.03 1,382.00 1,818
DAR (X) 0.63 0.63 0.57 0.64 0.63

1,352
DER(X) 2.20 2.01 1.32 1.80 1.73

ROA (%) 5.61 4.42 27.49 5.25 4.21 886
619 616
ROE (%) 19.52 14.21 63.90 14.70 11.48
340 339
GPM (%) 10.64 7.87 5.42 5.82 6.12 420
OPM (%) 6.03 3.78 3.80 3.83 3.44

NPM (%) 3.79 2.78 12.15 2.86 2.76
-46
2009 2010 2011 2012 2013

Payout Ratio (%) 23.08 203.73 37.50 62.28 29.93
Yield (%) 2.14 9.65 7.44 2.53 1.14

COMPANY REPORT
ASII
ASTRA INTERNATIONAL TBK.
Company Profile
PTAstraInternationalTbk.wasestablishedin1957asPTAstraInternationalIncorporated.
In1990,thecompanychangeditsnametoPTAstraInternationalTbk.

ThescopeofthecompanysactivitiesassetoutinitsArticlesofAssociationaretoengage
in general trading, industry, mining, transportation, agriculture, construction and
consultancyservices.Thesubsidiariesmainactivitiesaretheassemblyanddistributionof
automobiles, motorcycles and related spare parts, heavy equipment sales and rentals,
mining and related services, development of plantation, financial services, infrastructure,
andinformationtechnology.

TheCompanysslargestshareholderisJardineCycle&CarriageLtdisasubsidiaryofJardine
MahesonHoldingsLtd,acompanyincorporatedinBermuda.

As at 31 December 2013, the Company and its subsidiaries had 132,570 employees
(unaudited).
January 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 : 260,106,828,924,500
2 | 260.1T | 5.99% | 12.76%
1 | 63.6T | 5.77% | 5.77%

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 :
PT Danareksa Sekuritas DIVIDEND ANNOUNCEMENT
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. Soemadi Djoko Moerdjono Brotodiningrat *) 2005 340.00 15-Jun-06 16-Jun-06 20-Jun-06 04-Jul-06 F
*) Independent Commissioners 2006 150.00 20-Oct-06 30-Oct-06 01-Nov-06 15-Nov-06 I
2006 290.00 14-Jun-07 15-Jun-07 19-Jun-07 03-Jul-07 F
BOARD OF DIRECTORS 2007 160.00 29-Oct-07 30-Oct-07 01-Nov-07 15-Nov-07 I
1. Prijono Sugiarto 2008 300.00 28-Oct-08 29-Oct-08 31-Oct-08 14-Nov-08 I
2. Djoko Pranoto 2008 570.00 17-Jun-09 18-Jun-09 22-Jun-09 03-Jul-09 F
3. Gunawan Geniusahardja 2009 830.00 16-Jun-10 17-Jun-10 21-Jun-10 05-Jul-10 F
4. Johannes Loman 2010 470.00 27-Oct-10 28-Oct-10 01-Nov-10 15-Nov-10 I
5. Johny Darmawan Danusasmita 2011 600.00 26-Oct-11 27-Oct-11 31-Oct-11 14-Nov-11 I
6. Simon Collier Dixon 2011 1,380.00 16-May-12 21-May-12 23-May-12 06-Jun-12 F
7. Sudirman Maman Rusdi 2012 66.00 18-Oct-12 19-Oct-12 23-Oct-12 07-Nov-12 I
8. Widya Wiryawan 2012 150.00 20-May-13 21-May-13 23-May-13 07-Jun-13 F
2013 64.00 10-Oct-13 11-Oct-13 17-Oct-13 31-Oct-13 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
Gedung AMDI 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
Closing Price*, Jakarta Composite Index (IHSG) and Oct-11 70,000 57,300 69,000 51,096 100,835 6,582,050 21
Miscellaneous Industry Index Nov-11 72,000 65,500 70,900 40,280 67,618 4,676,338 22
140%
Jan-12 79,650 73,500 78,900 31,100 60,335 4,672,194 21
120% Feb-12 79,200 67,100 70,850 68,125 130,669 9,466,255 21
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
May-12 74,250 64,200 64,300 46,178 90,988 6,242,152 21
87.9%
80% 82.0% Jun-12 64,200 6,400 6,850 61,324 816,809 6,070,144 21
71.6% 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 5,339 Oct-13 7,250 6,300 6,650 54,573 553,688 3,722,910 21
Frequency (Thou. X) 383 532 610 669 86 Nov-13 6,850 6,150 6,250 54,611 662,358 4,332,899 20
Days 245 247 246 244 20 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 7,400
Low 32,750 45,250 6,250 5,100 6,250
Close 54,550 74,000 7,600 6,800 6,425
Close* 5,455 7,400 7,600 6,800 6,425
PER (X) 15.37 14.03 13.70 15.33 14.49

PER Industry (X) 16.08 12.24 18.33 18.64 14.45
PBV (X) 4.48 3.95 3.43 2.79 2.64

Receivables 25,491,000 23,919,000 37,405,000 38,608,000 51,645,000

7,282,000 10,842,000 11,990,000 15,285,000 14,433,000 180,000
Inventories
Current Assets 36,595,000 46,843,000 65,978,000 75,799,000 88,352,000
135,000
Fixed Assets 21,941,000 24,363,000 28,604,000 34,326,000 37,862,000
Other Assets 739,000 612,000 1,043,000 1,824,000 2,490,000
90,000
Total Assets 88,938,000 112,857,000 153,521,000 182,274,000 213,994,000
Growth (%) 26.89% 36.03% 18.73% 17.40% 45,000

Growth (%) 35.40% 43.41% 19.02% 16.60%
Paid up Capital 2,024,178 2,024,178 2,024,178 2,024,178 2,024,178 106,188
89,814
500 500 500 50 50 75,838
Par Value
84,526

62,863
Total Equity 39,894,000 49,310,000 75,838,000 89,814,000 106,188,000 49,310

39,894
Growth (%) 23.60% 53.80% 18.43% 18.23% 41,201
Total Revenues 98,526,000 129,991,000 162,564,000 188,053,000 193,880,000

Growth (%) 31.94% 25.06% 15.68% 3.10%
-2,124
2009 2010 2011 2012 2013
Cost of Revenues 75,755,000 103,117,000 130,530,000 151,853,000 158,569,000

Gross Profit 22,771,000 26,874,000 32,034,000 36,200,000 35,311,000
Expenses (Income) 10,015,000 12,149,000 14,202,000 8,302,000 7,788,000
Operating Profit 12,756,000 14,725,000 17,832,000 - - 188,053 193,880
Growth (%) 15.44% 21.10% 162,564

154,328
129,991
Other Income (Expenses) 1,079,000 1,410,000 7,940,000 - -
98,526
Tax 3,958,000 4,027,000 4,695,000 5,156,000 5,226,000
75,225
Growth (%) 36.64% 23.95% 7.90% -1.96%

35,674
Period Attributable 12,444,000 14,366,000 17,785,000 19,421,000 19,417,000 -3,878
Current Ratio (%) 136.88 126.18 136.40 139.91 124.20
22,742 22,297
Dividend (Rp) 830.00 470.00 1,980.00 216.00 64.00 21,077
EPS (Rp) 3,073.84 3,548.60 4,393.14 479.73 479.63
17,004
BV (Rp) 9,854.37 12,180.25 18,733.04 2,218.53 2,622.99 18,103
DAR (X) 0.45 0.48 0.51 0.51 0.50 12,444

13,463
DER(X) 1.00 1.10 1.02 1.03 1.02

ROA (%) 13.99 15.07 13.73 12.48 10.42 8,824
ROE (%) 31.19 34.48 27.79 25.32 21.00

GPM (%) 23.11 20.67 19.71 19.25 18.21 4,185
OPM (%) 12.95 11.33 10.97 - -

NPM (%) 12.63 13.08 12.97 12.09 11.50
-455
2009 2010 2011 2012 2013

Payout Ratio (%) 27.00 13.24 45.07 45.03 13.34
Yield (%) 2.39 0.86 2.68 2.84 0.94

COMPANY REPORT
ASRI
ALAM SUTERA REALTY TBK.
Company Profile

PT Alam Sutera Realty Tbk. was established on November 3rd, 1993. The Company
commenceditsoperationalactivityandpurchasedthelandin1999.

The Companys activities are developing and manage housing. The Company and its
subsidiariesdomiciledatWismaArgoManunggal,Jln.Jend.GatotSubrotoKav.22,Jakarta.
The Company owns land for development located at Serpong, Kabupaten Tangerang,
ProvinceofBantenandCianjur,ProvinceofWestJavaandstillonpurchasesoflandstage
forAlamSuteraResidentialprojectandownsseveralsubsidiaries.

ThemainrealestateprojectacquiredbytheCompanyandSubsidiariesrecentlyareAlam
SuteraResidentialprojectandSvarnaPadiprojectatPasarKemis,Tangerang.

AlamSuterabelievesthatallthedevelopmenteffortsmusttakeenvironmentalissuesinto
accountseriously.Theecofriendlydevelopmentmeantmorethanamarketinggimmick
it is the companys 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
examplehowtodevelopasustainablegreencommunity.

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
TangerangMatraRealEstate.

TheCompanyandsubsidiarieshad1,261employeesasofDecember31th,2013.
January 2014
Disclaimer:

ASRI Alam Sutera Realty Tbk. [S]
Industry Sub Sector : Property And Real Estate (61) Market Capitalization : 10,021,200,062,880
76 | 10.0T | 0.23% | 82.63%
17 | 17.1T | 1.55% | 48.48%

Established Date : 03-Nov-1993 1. PT Manunggal Prime Development 5,225,856,000 : 26.60%
Listing Date : 18-Dec-2007 2. Tangerang Fajar Industrial Estate 2,982,450,000 : 15.18%
Under Writer IPO : 3. PT Tangerang Fajar Industrial Estate 1,971,650,000 : 10.03%
PT Ciptadana Securities 4. Public (<5%) 9,469,455,888 : 48.19%
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. Agus R. Panjaitan 12. Warrant 27,500,000 28-Oct-09 28-Oct-09
3. Satino 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

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 - January 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%
385.7% 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
Dec-12 640 550 600 15,745 1,766,756 1,065,978 18
140% 149.6%
71.6% 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
Volume (Million Sh.) 40,925 20,150 29,410 31,672 2,182 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 1,084 Oct-13 700 560 610 43,176 4,867,653 3,050,634 21
Frequency (Thou. X) 261 244 297 511 54 Nov-13 610 455 475 43,705 2,060,989 1,091,598 20
Days 245 247 246 244 20 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 1,160 550
Low 103 225 410 425 424
Close 295 460 600 430 510
Close* 295 460 600 430 510
PER (X) 18.14 13.63 9.69 7.30 8.66

PER Industry (X) 9.97 11.09 17.34 17.79 16.27
PBV (X) 2.39 2.95 2.49 1.59 1.88

Public Accountant : Paul Hadiwinata, Hidajat, Arsono, Ade Fatma & Rekan (Member of PKF International Ltd)
Cash & Cash Equivalents 430,593 732,357 844,906 1,641,316 890,181 15,000
Receivables 25,512 14,693 21,596 29,721 84,690

1,841,950 2,186,131 2,395,213 1,661,094 937,153 12,000
Inventories
Investment - 28,827 57,476 - 312,000
9,000
Fixed Assets 50,900 148,063 341,514 708,121 801,678
Other Assets 72,449 322,433 806,319 11,619 61,186
6,000
Total Assets 3,559,965 4,587,986 6,007,548 10,946,417 14,428,083
Growth (%) 28.88% 30.94% 82.21% 31.81% 3,000
Bank Payable - 554,227 795,658 45,000 -

Trade Payable 19,063 26,212 35,519 35,257 165,089 2009 2010 2011 2012 2013
Growth (%) 45.96% 35.80% 92.96% 46.37%
Authorized Capital 2,400,000 24,000 2,400,000 2,400,000 2,400,000 5,332
Paid up Capital 1,786,310 1,786,310 1,786,310 1,964,941 1,964,941 5,332
4,732
Par Value 100 100 100 100 100
4,244
Retained Earnings 167,392 448,273 977,938 2,050,204 2,640,107

3,156 2,787
Total Equity 1,927,423 2,208,305 2,786,872 4,731,875 5,331,785 2,208
14.57% 26.20% 69.79% 12.68% 1,927
Growth (%) 2,069
Total Revenues 403,627 765,213 1,381,046 2,446,414 3,684,240

Growth (%) 89.58% 80.48% 77.14% 50.60%
-107
2009 2010 2011 2012 2013
Cost of Revenues 241,599 349,046 566,656 979,517 1,846,814

Gross Profit 162,029 416,167 814,391 1,466,897 1,837,425
Operating Profit 110,641 343,079 693,620 1,254,013 1,533,221 3,684
3,684
Growth (%) 210.08% 102.18% 80.79% 22.27%

2,933
2,446
Other Income (Expenses) 7,170 -12,897 -22,477 90,182 -451,445
Income before Tax 117,811 330,182 671,143 1,344,195 1,081,776 2,181
Tax 23,634 39,287 68,407 128,103 192,199 1,381

Profit for the period 94,177 290,895 602,737 1,216,092 889,577
1,429
765
Growth (%) 208.88% 107.20% 101.76% -26.85%
678
404
Period Attributable 94,177 290,484 601,654 1,192,716 876,785 -74
Comprehensive Income 94,021 290,895 602,737 1,216,092 889,577 2009 2010 2011 2012 2013
Comprehensive Attributable - 290,484 601,654 1,192,716 876,785
Dividend (Rp) 1.05 4.03 6.13 14.60 -
1,216
EPS (Rp) 5.27 16.26 33.68 60.70 44.62 1,216
BV (Rp) 107.90 123.62 156.01 240.82 271.35

890
DAR (X) 0.46 0.52 0.54 0.57 0.63 968
DER(X) 0.84 1.07 1.16 1.31 1.71

720
603
ROA (%) 2.65 6.34 10.03 11.11 6.17
ROE (%) 4.89 13.17 21.63 25.70 16.68 472
GPM (%) 40.14 54.39 58.97 59.96 49.87 291
OPM (%) 27.41 44.83 50.22 51.26 41.62 224
94
NPM (%) 23.33 38.01 43.64 49.71 24.15
Payout Ratio (%) 19.92 24.78 18.20 24.05 -
-24
2009 2010 2011 2012 2013

Yield (%) 1.00 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
severaltime,thelastchangewasonMay21st,1974,whichisPTBankCentralAsia.
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
accordancewiththeregulationsapplicableinIndonesia.
Asof31December2013,BCAhad953domesticsbranchesand2overseasrepresentatives
locatedinSingaporeandHongKong.
BCAhasdirectandindirectownershipinsubsidiaries:BCAFinance,BCAFinanceLimited,
PTBankBCASyariah,PTBCASekuritas(formerlyPTDinamikaUsahaJaya)andPTCentral
SejahteraInsurance.
AsofDecember31st,2013,BCAhad21,281permanentemployees.
January 2014
Disclaimer:

BBCA Bank Central Asia Tbk.
Industry Sector : Finance (8) Listed Shares : 24,408,459,120
Industry Sub Sector : Bank (81) Market Capitalization : 242,253,956,766,000
3 | 242.3T | 5.58% | 18.34%
9 | 27.7T | 2.51% | 34.10%

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 :
PT Bahana Securities Bonus Cash Recording Payment
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 F
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 F
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. Renaldo Hector Barros 2013 45.00 28-Nov-13 29-Nov-13 03-Dec-13 17-Dec-13 I
9. Subur Tan
10. Suwignyo Budiman ISSUED HISTORY
Listing Trading
AUDIT COMMITTEE No. Type of Listing Shares Date Date
1. Sigit Pramono 1. First Issue 662,400,000 31-May-00 31-May-00
2. Ilham Ikhsan 2. Company Listing 2,252,146,140 T: 31-May-00 : 11-Jan-01
3. Inawaty Suwardi 3. Stock Split 21,199,350,480 T: 15-May-01 : 28-Jan-08
4. Option Conversion 210,852,000 T: 29-Nov-01 : 09-Nov-06
CORPORATE SECRETARY 5. Option Conversion MSOP 89,226,500 T: 04-Aug-03 : 29-Sep-04
Inge Setiawati 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
140%
Jan-12 8,250 7,850 8,000 20,524 284,722 2,292,976 21
120% 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
96.5%
May-12 8,100 7,000 7,000 22,561 398,309 2,996,959 21
87.8%
80% Jun-12 7,500 6,750 7,300 21,978 289,274 2,085,318 21
71.6% 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 20 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 10,350
Low 4,425 5,300 6,750 8,450 9,250
Close 6,400 8,000 9,100 9,600 9,925
Close* 6,400 8,000 9,100 9,600 9,925
PER (X) 18.61 18.31 18.86 17.13 17.71

PER Industry (X) 16.00 6.61 6.58 17.01 18.74
PBV (X) 4.63 4.69 4.32 3.87 4.00

Public Accountant : Siddharta & Widjaja (Member of KPMG International)
Cash on Hand 8,865,151 9,639,057 10,355,620 11,054,208 16,284,142 500,000
Placements with Other Banks 5,259,335 61,326,849 43,010,506 28,802,130 12,254,043

69,562,763 21,159,270 22,166,868 47,310,371 89,463,509 400,000
Marketable Securities
Loans 119,595,661 150,016,746 198,440,354 252,760,457 306,679,132
300,000
Investment 1,952 38,501 171,728 104,246 182,544
Fixed Assets 2,971,269 3,406,957 4,144,659 6,406,625 7,440,017
200,000
Other Assets 3,325,651 3,682,901 4,185,031 6,265,653 6,564,382
Total Assets 282,392,294 324,419,069 381,908,353 442,994,197 496,304,573 100,000
Growth (%) 14.88% 17.72% 15.99% 12.03%
-
Deposits 247,628,653 277,530,635 326,894,554 372,837,307 413,036,948 2009 2010 2011 2012 2013
Taxes Payable 269,334 493,337 432,101 216,614 276,017
Fund Borrowings 730,333 448,721 449,188 128,018 500,952
Other Liabilities 2,375,459 2,812,014 3,483,582 5,620,847 5,768,437 TOTAL EQUITY (Bill. Rp)
Total Liabilities 254,535,601 290,311,225 339,881,013 390,067,244 432,337,895 63,967
Growth (%) 14.06% 17.07% 14.77% 10.84% 63,967
51,898
Authorized Capital 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000

50,917
42,027
Paid up Capital 1,540,938 1,540,938 1,540,938 1,540,938 1,540,938 34,108
37,868

Par Value 63 63 63 63 63 24,819

Total Equity 27,856,693 34,107,844 42,027,340 51,897,942 63,966,678 11,770
Growth (%) 22.44% 23.22% 23.49% 23.25%

-1,279
2009 2010 2011 2012 2013

INCOME STATEMENTS Dec-09 Dec-10 Dec-11 Dec-12 Dec-13
Total Interest Income 22,931,153 20,660,602 24,566,852 28,885,290 34,277,149
Growth (%) -9.90% 18.91% 17.58% 18.67%
TOTAL INTEREST INCOME (Bill. Rp)
Interest Expenses 8,031,428 7,723,774 7,730,157 7,647,167 7,852,009 34,277
4,348,342 7,359,500 7,213,378 6,375,833 470,940

34,277
Other Operating Revenue 28,885

Other Operating Expenses 8,471,235 9,571,893 10,913,969 12,859,718 14,631,462 24,567
22,931
27,285
Income from Operations 8,518,883 10,400,190 13,296,775 14,255,568 17,078,667 20,661

Growth (%) 22.08% 27.85% 7.21% 19.80% 20,292
Non-Operating Revenues 426,209 253,079 321,983 430,478 736,939

13,300
Income Before Tax 8,945,092 10,653,269 13,618,758 14,686,046 17,815,606

Provision for Income Tax 2,137,850 2,173,996 2,800,960 2,967,586 3,559,367
6,307
Profit for the period 6,807,242 8,479,273 10,817,798 11,718,460 14,256,239 -686
Growth (%) 24.56% 27.58% 8.33% 21.66% 2009 2010 2011 2012 2013
Period Attributable 6,807,242 8,479,273 10,819,309 11,721,717 14,253,831

Comprehensive Income 6,807,242 8,789,687 10,770,209 11,898,523 13,004,312 PROFIT FOR THE PERIOD (Bill. Rp)
14,256
14,256
RATIOS Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 11,718

10,818
Dividend (Rp) 110.00 112.50 157.00 114.50 45.00 11,348
EPS (Rp) 276.10 343.92 438.83 475.43 578.13 8,479
1,129.86 1,383.40 1,704.62 2,104.97 2,594.47 6,807

8,440
BV (Rp)
DAR (X) 0.90 0.89 0.89 0.88 0.87 5,531
DER(X) 9.14 8.51 8.09 7.52 6.76

ROA (%) 2.41 2.61 2.83 2.65 2.87 2,623
ROE (%) 24.44 24.86 25.74 22.58 22.29

OPM (%) 37.15 50.34 54.12 49.35 49.83
-285
2009 2010 2011 2012 2013

NPM (%) 29.69 41.04 44.03 40.57 41.59
Payout Ratio (%) 39.84 32.71 35.78 24.08 7.78
Yield (%) 2.27 1.76 1.96 1.26 0.47

COMPANY REPORT
BBNI
BANK NEGARA INDONESIA
(PERSERO) TBK.
Company Profile
PTBankNegaraIndonesia(Persero)Tbk.wasoriginallyestablishedinIndonesiaasacentral
bank under the name Bank Negara Indonesia dated July 5th, 1946. Subsequently, BNI
became Bank Negara Indonesia 1946 and changed its status to a stateowned
commercialbank.
BNIsscopeofactivityistoBNIsscopeofactivityistoengageingeneralbankingservices.
As of December 31st, 2013, BNI had 168 domestic branches, 912 domestic subbranches,
and592otheroutlet.Inaddition,BNIsnetworkalsoincluded4overseasbrancheslocated
inSingapore,HongKong,TokyoandLondonand1agencyinNewYork.
BNI has direct ownership in the following subsidiaries: PT BNI Life Insurance, PT BNI
Multifinance, PT BNI Securities, 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
domiciledinHongKong.
As of December 31st, 2013, BNI had 22,477 permanent employees and 3,623 non
permanentemployees.
January 2014
Disclaimer:

BBNI Bank Negara Indonesia (Persero) Tbk.
12 | 80.5T | 1.85% | 48.16%
10 | 25.4T | 2.31% | 36.41%

Established Date : 05-Jul-1946 1. Negara Republik Indonesia 11,189,193,875 : 60.00%
Listing Date : 25-Nov-1996 2. Public (<5%) 7,272,976,018 : 40.00%
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
Wisma Sudirman - Puri Datindo 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
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. Darminto
CORPORATE SECRETARY
Tribuana Tunggadewi
HEAD OFFICE
Gedung BNI 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
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
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
129.4%
120% Jun-12 3,850 3,500 3,825 12,717 317,367 1,188,374 21
Jul-12 3,975 3,725 3,975 13,102 357,854 1,381,432 22
Aug-12 4,000 3,625 3,725 16,897 480,873 1,833,994 19
90% 87.8%
Sep-12 3,975 3,725 3,925 16,128 490,626 1,896,606 20
71.6% 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 20 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 4,420
Low 1,730 2,975 3,325 3,375 3,660
Close 3,875 3,800 3,700 3,950 4,360
Close* 3,875 3,800 3,700 3,950 4,360
PER (X) 17.62 11.83 9.58 8.45 9.33

PER Industry (X) 16.00 6.61 6.58 17.01 18.74
PBV (X) 2.18 1.87 1.59 1.61 1.78

Cash on Hand 4,903,316 5,480,703 6,197,731 7,969,378 10,089,927 387,500

19,197,927 13,181,480 7,627,768 9,800,970 11,965,698 310,000
Loans 113,922,685 129,399,567 163,533,423 193,834,670 243,757,807
232,500
Investment 51,267 24,398 24,335 24,026 39,507
Fixed Assets 3,707,940 3,838,079 4,052,708 4,591,588 5,513,569
155,000
Other Assets 2,898,406 4,162,883 4,655,153 3,312,032 3,156,891
Total Assets 227,496,967 248,580,529 299,058,161 333,303,506 386,654,815 77,500
Growth (%) 9.27% 20.31% 11.45% 16.01%
-
Deposits 192,288,136 197,700,436 238,314,269 260,906,084 295,075,178 2009 2010 2011 2012 2013
Taxes Payable 94,036 182,128 145,021 171,716 323,957
Fund Borrowings 5,569,805 5,623,480 8,725,796 8,749,762 -
Growth (%) 3.41% 21.25% 10.93% 16.98% 43,525
37,843
37,956
Paid up Capital 7,789,288 9,054,807 9,054,807 9,054,807 9,054,807

28,229

19,144
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
18,501

Total Equity 19,143,582 33,119,626 37,843,024 43,525,291 47,683,505 8,774
Growth (%) 73.01% 14.26% 15.02% 9.55%

-954
2009 2010 2011 2012 2013

Growth (%) -3.13% 9.84% 9.73% 16.50%

26,451
Other Operating Revenue 4,295,385 7,061,053 7,601,475 8,445,813 9,440,904 22,705

20,692
19,447 18,837
Income from Operations 3,386,114 5,509,018 7,242,583 8,641,023 11,218,803
Growth (%) 62.69% 31.47% 19.31% 29.83% 15,659
Non-Operating Revenues 57,835 -23,558 218,725 258,539 59,362

10,263

4,867
Provision for Income Tax 957,230 1,382,262 1,653,090 1,851,200 2,220,224

Growth (%) 65.00% 41.55% 21.35% 28.51% 2009 2010 2011 2012 2013

9,058
9,058

Dividend (Rp) 56.92 65.98 62.48 113.35 145.71 7,210
5,808
EPS (Rp) 162.81 219.95 312.40 377.84 485.52
5,362
BV (Rp) 1,253.35 1,775.98 2,029.26 2,333.96 2,556.94 4,103

DAR (X) 0.92 0.87 0.87 0.87 0.88 3,514
2,487
DER(X) 10.88 6.50 6.90 6.66 7.11
ROA (%) 1.09 1.65 1.94 2.11 2.34 1,667
ROE (%) 12.99 12.39 15.35 16.19 19.00

OPM (%) 17.41 29.25 35.00 38.06 42.41
-181
2009 2010 2011 2012 2013

NPM (%) 12.79 21.78 28.07 31.04 34.24
Payout Ratio (%) 34.96 30.00 20.00 30.00 30.01
Yield (%) 2.87 1.70 1.64 3.06 3.69

COMPANY REPORT
BBRI
BANK RAKYAT INDONESIA (PERSERO) TBK.
Company Profile
PT Bank Rakyat Indonesia (Persero) Tbk. as the oldest commercial bank in Indonesia,
establishedon16December1895inPurwokerto,CentralJava.BRIwentpublicin2003and
consistently maintains it commitment towards the Micro, Small, and Medium Business
segment(MSMEs)upuntilnow.TheGovernmentofTheRepublicIndonesiaisthemajority
shareholder of BRI with 56.75% share, while the general public shareholders hold the
remaining43.25%ofshare.

ThevisionoftheBankisbeingtheleadingcommercialbankthatalwaysprioritizecustomer
satisfaction. To accomplish the Companys vision, BRI has set itself with three missions.
First,toconductthebestbankingpracticewithaprioritygiventoservicestheMicro,Small
andMediumEnterprises(MSMEs)inordertosupporttheeconomyofthepeople.Second,
to provide its customers with excellent services delivered through its vast network and
supported by professional human resources, while adhering to the practices of Good
CorporateGovernance.Third,tocreateoptimalvaluesandbenefitsforitsstakeholders.

Sinceitsinception,BRIhascommitmenttofocusonbankingservicesinmicro,small,and
mediumenterprises(MSMEs).Thiscommitmentisreflectedintheallocationofloansfor
thesectorsthataffectthelivelihoodofthepopulationandotherfinancialservicesthatthe
Bankofferstothecommunity.

AsofDecember31st,2013,BRIhad18regionaloffices,18inspectionoffices,449domestic
branches,1specialbranch,565subbranchoffices,3overseasbranches,950cashoffices,
5,060BRIunits,2,151terraces,and401mobileterraces.TheBankhad81,238employees
(unaudited).

BRIhasownershipinsubsidiaries:PTBankBRISyariah,PTBankRakyatIndonesiaAgroniaga
Tbk.,andBRIRemittanceCo.Ltd.HongKong.
January 2014
Disclaimer:

BBRI Bank Rakyat Indonesia (Persero) Tbk.
6 | 203.3T | 4.68% | 33.32%
2 | 58.8T | 5.33% | 11.09%
COMPANY HISTORY
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
Wisma Sudirman - Puri Datindo 2003 84.19 06-Jul-04 07-Jul-04 09-Jul-04 23-Jul-04 F
Phone : (021) 570-9009 2005 156.18 21-Jun-06 22-Jun-06 26-Jun-06 10-Jul-06 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. Aviliani *) 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 Gedung BRI I, 20th Fl.
7. Syahrir Nasution Jln. Jend. Sudirman No. 44 - 46
8. Vincentius Sonny Loho Jakarta - 10210
Phone : (021) 653-10418
CORPORATE SECRETARY Fax : (021) 653-04957
Budi Satria
Homepage : www.bri.co.id
Email : ir@bri.co.id

TRADING ACTIVITIES
Bank Rakyat Indonesia (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
10,000 160 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
8,750 140 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
7,500 120
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
6,250 100
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
5,000 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
3,750 60 Dec-10 11,700 9,800 10,500 37,298 451,843 4,792,357 20
2,500 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
1,250 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
175%
Jan-12 7,200 6,750 6,850 34,105 648,419 4,500,394 21
150% 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
125% Apr-12 7,150 6,450 6,650 35,173 698,250 4,789,501 20
113.5% May-12 6,700 5,600 5,650 68,285 1,252,556 7,711,374 21
100% Jun-12 6,350 5,150 6,350 50,200 914,692 5,396,595 21
Jul-12 7,050 6,250 7,000 44,178 824,887 5,468,998 22
87.8%
Aug-12 7,550 6,650 6,950 31,723 669,590 4,725,231 19
75%
71.6% 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
50%
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
25%
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
-25% 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 Jan-14 Aug-13 8,450 6,250 6,600 75,898 1,110,192 7,784,877 17
Days 245 247 246 244 20 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 8,850
Low 6,950 4,525 5,150 6,200 7,000
Close 10,500 6,750 6,950 7,250 8,325
Close* 5,250 6,750 6,950 7,250 8,325
PER (X) 11.29 10.89 9.18 8.69 9.97

PER Industry (X) 16.00 6.61 6.58 17.01 18.74
PBV (X) 3.53 3.34 2.64 2.43 2.78

Cash on Hand 8,139,304 9,975,712 10,525,973 13,895,464 19,171,778 637,500

24,478,132 22,514,663 33,917,516 41,136,880 42,673,665 510,000
Loans 194,242,503 232,972,784 269,454,726 336,081,042 419,144,730
382,500
Investment 111,461 133,888 164,689 196,742 222,851
Fixed Assets 1,366,212 1,568,945 1,852,818 2,804,366 3,972,612
255,000
Other Assets 5,235,421 4,880,779 5,293,505 5,961,840 7,004,037
Total Assets 316,947,029 404,285,602 469,899,284 551,336,790 626,182,926 127,500
Growth (%) 27.56% 16.23% 17.33% 13.58%
-
Deposits 260,378,168 338,812,712 388,288,508 452,945,001 507,972,602 2009 2010 2011 2012 2013
Taxes Payable 343,492 1,930,923 1,105,997 895,695 1,266,018
Fund Borrowings 13,611,399 8,454,545 13,097,916 10,888,755 9,084,913
Growth (%) 26.90% 14.27% 15.80% 12.42% 79,327
64,882

63,145
49,820
Paid up Capital 6,164,926 6,167,291 6,167,291 6,167,291 6,167,291
46,962
Par Value 500 500 250 250 250 30,779

27,257

Total Equity 27,257,381 36,673,110 49,820,329 64,881,779 79,327,422 14,596
Growth (%) 34.54% 35.85% 30.23% 22.26%

-1,587
2009 2010 2011 2012 2013

Growth (%) 26.27% 7.96% 3.00% 19.86%
3,269,594 5,544,533 5,775,975 8,389,732 8,348,459

59,461

48,164
44,615
Income from Operations 8,560,659 14,402,001 17,584,230 22,682,538 26,127,577 35,334
Growth (%) 68.23% 22.10% 28.99% 15.19% 35,201
Non-Operating Revenues 1,330,569 506,229 1,171,650 1,177,034 1,782,489

23,071

10,941
Profit for the period 7,308,292 11,472,385 15,087,996 18,687,380 21,354,330 -1,189
Growth (%) 56.98% 31.52% 23.86% 14.27% 2009 2010 2011 2012 2013

21,354
18,687
21,354
RATIOS Dec-09 Dec-10 Dec-11 Dec-12 Dec-13

Dividend (Rp) 132.08 115.97 122.28 225.23 257.33 16,998
15,088
EPS (Rp) 592.73 930.10 611.41 757.26 865.22 11,472

2,210.68 2,973.19 2,019.54 2,630.08 3,215.65
12,642
BV (Rp)
DAR (X) 0.91 0.91 0.89 0.88 0.87 8,285
7,308
DER(X) 10.63 10.02 8.43 7.50 6.89
ROA (%) 2.31 2.84 3.21 3.39 3.41 3,929
ROE (%) 26.81 31.28 30.28 28.80 26.92

OPM (%) 24.23 32.28 36.51 45.72 43.94
-427
2009 2010 2011 2012 2013

NPM (%) 20.68 25.71 31.33 37.67 35.91
Payout Ratio (%) 22.28 12.47 20.00 29.74 29.74
Yield (%) 1.73 1.10 1.81 3.24 3.55

COMPANY REPORT
BDMN
BANK DANAMON INDONESIA TBK.
Company Profile
PT Bank Danamon Indonesia Tbk. was established in 1956. The name Bank Danamon,
whichwasderivedfromdanamoneter,meaningmonetaryfund,wasfirstusedin1976in
place of its original name, Bank Kopra. Bank Danamon became among the first foreign
exchange banks in Indonesia, and became a public company listed on the Jakarta Stock
Exchange.

As of 31 December 2013, The Banks operated 79 conventional main branches, 1,458
conventional subbranches and Danamon Simpan Pinjam, and 160 Sharia branches and
subbranches.

Danamon was recently awarded as the Top 10 Public Listed Company with the highest
Good Corporate Governance (GCG) ASEAN Scorecard by Institute for Corporate
Directorship (IICD). Danamon also received Digital Brand of the Year 2012 Award in the
Credit Card Category from Infobank. Internationally, Danamon received Best Corporate
GovernanceinFinanceAsiasAsiasBestCompanies2012poll.

DanamonisthesoleissuerandacquirerofAmericanExpresscardsinIndonesiaunderan
independent operator agreement which allows it to issue American Express cards to
individualandcorporateclients.Danamonisalsotheonlybankwhichprovidesservicesto
local merchants who accept American Express Cards and for signing up new merchant
partnersinIndonesia.DanamonisalsothesolelicenseholderofManchesterUnitedcards
in Indonesia, allowing the Bank to issue Manchester United ATM/Debit cards and credit
cards.

DanamonhasthemajorityowneratPTAdiraDinamikaMultiFinanceTbk(AdiraFinance),
theautomotivefinancingsubsidiaryofDanamon,operatesanextensivebranchnetworkin
Indonesia,PTAsuransiAdiraDinamika(AdiraInsurance),ageneralinsurancecompanyand
PTAdiraQuantumMultifinance(AdiraKredit),adurablegoodsfinancingcompany.

As of December 31st, 2013,the Bank andSubsidiarieshad46,976 permanent employees,
20,753nonpermanentemployees,and756outsourceemployees.
January 2014
Disclaimer:

BDMN Bank Danamon Indonesia Tbk.
19 | 41.2T | 0.95% | 57.68%
48 | 6.32T | 0.57% | 73.89%

Established Date : 16-Jul-1956 1. Asia Financial (Indonesia) Pte. Ltd. 6,457,558,472 : 67.37%
Listing Date : 06-Dec-1989 2. JPMCB-Franklin Templeton Investment Funds -2157804 613,019,888 : 6.40%
PT Aseam Indonesia PT IFI
PT Mutual International Finance Corporation DIVIDEND ANNOUNCEMENT
Bank Pembangunan Indonesia Bonus Cash Recording Payment
F/I
PT Raya Saham Registra 1990 50.00 18-Sep-90 19-Sep-90 26-Sep-90 26-Oct-90 I
Plaza Central Building 2nd Fl. 1990 150.00 06-Jun-91 07-Jun-91 14-Jun-91 26-Jul-91 F
Jln. Jend. Sudirman Kav. 47 - 48 Jakarta 12930 1991 150.00 27-May-92 29-May-92 06-Jun-92 13-Jul-92 F
Fax : (021) 252-5028 1993 27-Sep-93 28-Sep-93 05-Oct-93 26-Oct-93
1993 50.00 10-Jun-94 11-Jun-94 20-Jun-94 20-Jul-94 F
BOARD OF COMMISSIONERS 1994 60.00 05-Jul-95 06-Jul-95 14-Jul-95 14-Aug-95 F
1. Ng Kee Choe 1996 08-Jan-96 09-Jan-96 17-Jan-96 15-Feb-96
2. Benedictus Raksaka Mahi 1995 100.00 13-May-96 14-May-96 23-May-96 20-Jun-96 F
3. Ernest Wong Yuen Weng 1996 55.00 15-May-97 16-May-97 27-May-97 25-Jun-97 F
4. Gan Chee Yen 2001 5.85 10-Dec-01 11-Dec-01 19-Dec-01 28-Dec-01 I
5. Harry Arief Soepardi Sukadis *) 2002 19.00 16-Dec-02 17-Dec-02 19-Dec-02 27-Dec-02 I
6. Johanes Berchmans Kristiadi Pudjosukanto *) 2002 20.97 27-Jun-03 30-Jun-03 02-Jul-03 09-Jul-03 F
7. Manggi Taruna Habir *) 2003 85.00 18-Mar-04 19-Mar-04 24-Mar-04 08-Apr-04 I
8. Milan Robert Shuster *) 2003 39.50 05-May-04 06-May-04 10-May-04 14-May-04 F
*) Independent Commissioners 2004 178.73 08-Dec-04 09-Dec-04 13-Dec-04 22-Dec-04 I
2005 66.65 17-Jun-05 20-Jun-05 22-Jun-05 30-Jun-05
BOARD OF DIRECTORS 2005 203.45 15-Jun-06 16-Jun-06 20-Jun-06 04-Jul-06 F
1. Henry Ho Hon Cheong 2006 132.87 14-May-07 15-May-07 21-May-07 05-Jun-07 I
2. Ali Rukmijah (Ali Yong) 2007 208.90 16-May-08 17-May-08 22-May-08 05-Jun-08 F
3. Fransiska Oei Lan Siem 2008 90.82 18-Jun-09 19-Jun-09 23-Jun-09 07-Jul-09 F
4. Herry Hykmanto 2009 90.97 21-May-10 24-May-10 26-May-10 10-Jun-10 F
5. Kanchan Keshav Nijasure 2010 119.87 21-Apr-11 25-Apr-11 27-Apr-11 10-May-11 F
6. Khoe Minhari Handikusuma 2011 104.43 19-Apr-12 20-Apr-12 24-Apr-12 08-May-12 F
7. Michellina Laksmi Triwardhanny 2012 125.58 30-May-13 31-May-13 04-Jun-13 19-Jun-13 F
8. Muliadi Rahardja
9. Pradip Chhadva ISSUED HISTORY
10. Satinder Pal Singh Ahluwalia Listing Trading
11. Vera Eve Lim No. Type of Listing Shares Date Date
1. First Issue 12,000,000 06-Dec-89 06-Dec-89
AUDIT COMMITTEE 2. Partial Listing 22,400,000 T: 02-Aug-91 : 09-Aug-91
1. Milan Robert Shuster 3. Bonus Shares 146,400,000 T: 15-Nov-93 : 16-Feb-96
2. Amir Abadi Jusuf 4. Right Issue 220,255,901,301 T: 19-Jan-94 : 28-Sep-11
3. Felix Oentoeng Soebagjo 5. Company Listing 155,200,000 20-May-96 20-May-96
4. Johanes Brachmans Kristiadi Pudjosukanto 6. Stock Split 1,120,000,000 23-Jun-97 23-Jun-97
7. Partial Delisting -7,325,068,100 T: 11-Jun-99 : 17-Jul-01
CORPORATE SECRETARY 8. Add Listing (Bank PDFCI) 44,921,250,000 04-Jan-00 04-Jan-00
Dini Herdini 9. Add Listing (Merger) 230,663,750,000 04-Jul-00 04-Jul-00
10. Reverse Stocks -480,682,079,120 T: 17-Jul-01 : 22-Jan-03
HEAD OFFICE 11. Option Conversion 34,886,500 T: 07-Jul-05 : 14-Dec-06
Menara Bank Danamon 5th Fl. 12. ESOP Conversion I & II 46,979,955 T: 20-Dec-06 : 15-Sep-08
Jln. Prof. DR. Satrio Kav. E4/6 13. ESOP Conversion II 4,813,000 T: 21-Dec-06 : 05-Jul-10
Jakarta - 12950 14. ESOP Conversion I 25,528,645 T: 11-Jan-07 : 30-Jun-09
Phone : (021) 579-91001, 579-91002, 57991003 15. ESOP Conversion I, II & III 24,953,800 T: 04-Jul-07 : 05-Aug-08
Fax : (021) 579-91056, 579-91160, 579-91161 16. ESOP Conversion I & III 10,709,800 T: 08-Aug-07 : 08-Oct-09
Homepage : www.danamon.co.id 17. ESOP Conversion III 12,474,900 T: 09-Aug-07 : 05-Jul-11
Email : corpsec@danamon.co.id 18. ESOP Conversion II & III 27,974,450 T: 10-Aug-07 : 30-Jun-10
dini.herdini@danamon.co.id 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
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
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
87.8% 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
71.6%
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
-
-3.4%
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 1,358 117 Sep-13 4,225 3,825 3,975 19,112 172,943 711,519 21
Days 245 247 245 244 20 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 4,650
Low 4,275 3,975 4,050 3,550 3,590
Close 5,700 4,100 5,650 3,775 4,340
Close* 5,535 4,100 5,650 3,775 4,340
PER (X) 16.64 11.65 13.27 9.03 10.38

PER Industry (X) 16.00 6.61 6.58 17.01 18.74
PBV (X) 2.60 1.52 1.88 1.19 1.36

Cash on Hand 2,117,368 1,985,338 1,895,058 2,456,567 2,943,909 187,500

4,431,548 5,323,969 4,819,809 7,306,823 7,727,116 150,000
Loans 58,367,570 73,268,325 85,462,799 90,828,149 103,468,254
112,500
Investment 64,419 6,150,515 12,175 12,175 1,509,036
Fixed Assets 1,802,274 1,771,489 1,898,695 2,095,756 2,199,165
75,000
Other Assets 4,509,726 3,315,859 3,687,492 3,917,135 -
Total Assets 98,597,953 118,206,573 141,934,432 155,791,308 184,237,348 37,500
Growth (%) 19.89% 20.07% 9.76% 18.26%
-
Deposits 68,654,042 81,580,282 88,792,218 92,722,287 110,856,360 2009 2010 2011 2012 2013
Taxes Payable 192,041 183,020 225,311 303,747 234,131
Fund Borrowings 2,393,561 2,481,832 6,917,352 11,020,112 16,068,471
Growth (%) 20.44% 16.57% 5.33% 24.86% 31,553
28,733
25,837

25,116
Paid up Capital 5,303,992 5,317,363 5,901,122 5,901,122 5,901,122 18,450

18,679
15,806
Par Value 50,000 & 500 50,000 & 500 50,000 & 500 50,000 & 500 50,000 & 500 12,243

Total Equity 15,805,751 18,449,787 25,836,501 28,733,311 31,552,983 5,806
Growth (%) 16.73% 40.04% 11.21% 9.81%

-631
2009 2010 2011 2012 2013

Growth (%) -18.39% 17.10% 11.70% 6.75%

18,858
901,103 3,583,835 4,213,121 4,648,599 5,155,638 17,666
20,131

14,418
Growth (%) 66.42% 13.06% 18.11% -9.34% 11,917
Non-Operating Revenues -411,552 -628,533 -623,153 -696,175 -74,945

7,811

Provision for Income Tax 756,838 1,017,770 1,162,523 1,369,531 1,370,893
3,704
Growth (%) 84.90% 15.59% 19.37% 1.02% 2009 2010 2011 2012 2013

4,117 4,159
4,159
90.97 119.87 104.43 125.58 - 2,984

Dividend (Rp)
3,311
EPS (Rp) 192.33 342.57 348.08 418.57 421.68

1,883.79 2,191.93 2,695.61 2,997.85 3,292.04
2,462
BV (Rp)
1,614
DAR (X) 0.84 0.84 0.82 0.78 0.83 1,614
DER(X) 5.23 5.40 4.49 4.26 4.84

ROA (%) 1.64 2.52 2.43 2.64 2.26 765
ROE (%) 10.21 16.17 13.35 14.33 13.18

OPM (%) 15.75 32.11 31.01 32.79 27.84
-83
2009 2010 2011 2012 2013

NPM (%) 9.13 20.70 20.43 21.83 20.66
Payout Ratio (%) 47.30 34.99 30.00 30.00 -
Yield (%) 2.00 2.10 2.55 2.22 -

COMPANY REPORT
BKSL
SENTUL CITY TBK.
Company Profile
PT Sentul City Tbk. first established with the name of PT Sentragriya Kharisma dated April
16th, 1993. The Company started commercial activities since 1995.
The scope of company activities include the areas of development, sales, operations,
leasing and rehabilitation of buildings designated for office buildings, shopping centers,
recreational and other purposes, the real estate development and make good investments
of foreign companies and domestic, either through subsidiaries or joint ventures with other
parties. To achieve the aims and these objectives, the Company may conduct business
activities as follows:
- In the field of development: planning, implementation, construction along with its
facilities and general contractor (general contractor) which includes the construction
of residential areas (real estate), flat, buildings, offices, apartments/condominiums,
shopping (malls and plazas), hospitals, praying facilities, water park, home store
(shop), schools and commercial buildings in general.
- In the field of trade-related real estate and property: sales and purchases house
buildings, office buildings, buildings shopping, indoor units of apartments, office space,
retail space and others.
- In the field of services: leasing and property management services, the industrial,
office buildings, theme parks/recreation, park management and security (guard), and
related fields.
As of December 31st, 2013 the Company had 344 permanent employees.
January 2014
Disclaimer:

BKSL Sentul City Tbk. [S]
Development Board Individual Index : 10.711
127 | 4.87T | 0.11% | 90.70%
36 | 7.92T | 0.72% | 66.44%

Established Date : 16-Apr-1993 1. PT Citra Kharisma Komunika 5,007,879,767 : 15.00%
Listing Date : 28-Jul-1997 2. PT Citra Kharisma Komunika 3,747,891,369 : 11.00%
Under Writer IPO : 3. HSBC-Singapore Branch Private 2,254,266,127 : 7.00%
PT Trimega SecurindoLestari 4. Public (<5%) 20,386,867,747 : 67.00%
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 -
Fax : (021) 390-0671, 390-0652
ISSUED HISTORY
BOARD OF COMMISSIONERS Listing Trading
1. Antonius Prijohandojo Kristanto No. Type of Listing Shares Date Date
2. Basyir Ahmad Barmawi *) 1. First Issue 400,000,000 28-Jul-97 28-Jul-97
3. Edison Mawikere *) 2. Company Listing 1,030,000,000 28-Jul-97 28-Jul-97
4. Laurie Kumala 3. Right Issue 4,004,000,000 03-Aug-99 03-Aug-99
5. Reina Kumala Kwee 4. Reverse Split -4,075,500,000 01-Aug-06 01-Aug-06
6. Soemarso Slamet Rahardjo *) 5. Right Issue 8,151,000,000 10-Oct-06 10-Oct-06
7. Sumarsono 6. Additional Listing without RI 507,508,598 02-Oct-09 02-Oct-09
*) Independent Commissioners 7. Right Issue 15,025,512,897 01-Feb-10 01-Feb-10
8. Warrant 850,105 03-Aug-10 03-Aug-10
BOARD OF DIRECTORS 9. Warrant 25,000 05-Aug-10 05-Aug-10
1. Kwee Cahyadi Kumala 10. Warrant 142,500 06-Aug-10 06-Aug-10
2. Andrian Budi Utama 11. Warrant 924,801 09-Aug-10 09-Aug-10
3. Hartan Gunadi Harja 12. Warrant 2,400,886,000 10-Aug-10 10-Aug-10
4. Fransetya Hasudungan Hutabarat 13. Warrant 1,097,555,109 11-Aug-10 11-Aug-10
5. Kwee Liana Kumala 14. Additional Listing without RI 2,854,000,000 19-Aug-11 19-Aug-11
6. Motinggo Soputan
7. Redjianto Setiadi
8. Syukurman Larosa
AUDIT COMMITTEE
1. Soemarso Slamet Rahardjo
2. Mawar Inviolata Rohana Napitupulu
3. Rusdy Daryono
CORPORATE SECRETARY
Kwee Liana Kumala
HEAD OFFICE
Gedung Menara Sudirman 25th Fl
Jakarta - 12190
Phone : (021) 879-26555; 879-23959, 522-6818
Fax : (021) 879-26565, 879-23951, 522-6818
Homepage : www.sentulcity.co.id
Email : corsec@sentulcity.co.id

TRADING ACTIVITIES
Sentul City Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
340 3,200 Jan-10 99 85 89 9,336 608,714 56,485 20
Feb-10 92 82 88 5,410 788,702 74,694 19
298 2,800 Mar-10 116 87 100 17,465 1,578,655 162,313 22
Apr-10 168 100 163 42,736 5,787,726 752,553 21
May-10 166 92 130 37,582 4,617,691 646,123 19
255 2,400
Jun-10 144 118 131 27,833 3,625,759 466,040 22
Jul-10 131 105 119 16,278 3,225,077 352,997 22
213 2,000
Aug-10 120 96 104 13,570 838,271 90,899 21
Sep-10 128 101 116 13,779 1,942,364 224,466 17
170 1,600
Oct-10 129 115 117 12,245 1,335,124 164,705 21
Nov-10 119 100 105 6,029 572,466 63,388 21
128 1,200 Dec-10 117 105 109 5,542 417,970 45,390 20
85 800 Jan-11 111 95 99 8,240 494,702 51,458 21

Feb-11 111 95 104 6,831 426,197 44,507 18
43 400 Mar-11 107 97 101 8,270 557,005 56,881 23
Apr-11 108 101 106 6,369 400,562 41,797 20
May-11 127 102 116 13,459 1,509,054 176,192 21
Jun-11 125 109 119 7,865 2,243,421 237,833 20
Jul-11 199 118 192 24,429 4,584,513 678,424 21
Aug-11 325 175 295 30,967 7,824,168 1,552,074 19
Sep-11 320 215 250 22,266 2,768,214 785,815 20
Closing Price*, Jakarta Composite Index (IHSG) and Oct-11 310 205 285 33,604 4,410,097 1,218,368 21
Property, Real Estate and Bulding Construction Index Nov-11 280 230 250 15,044 1,806,767 456,089 22
315%
Jan-12 285 240 245 17,540 1,891,469 489,355 21
270% Feb-12 265 230 240 16,490 1,393,219 339,383 21
Mar-12 265 235 250 15,681 2,007,911 498,442 21
225% Apr-12 325 250 315 38,795 6,033,477 1,753,194 20
May-12 330 240 250 26,168 7,211,664 2,135,336 21
180% Jun-12 255 195 230 19,725 2,435,952 545,224 21
Jul-12 245 210 220 13,155 1,577,271 358,234 22
149.6% Aug-12 225 184 191 9,592 961,797 195,590 19
135%
Sep-12 220 186 210 11,901 1,333,847 274,943 20
Oct-12 210 189 193 13,511 833,154 164,110 22
90%
Nov-12 205 185 190 16,818 1,281,531 251,376 20
71.6%
55.5% Dec-12 197 184 189 12,452 1,894,857 397,763 18
45%
Jan-13 285 189 255 24,842 4,419,555 1,077,623 21

- Feb-13 305 240 295 23,002 3,984,078 1,075,830 20
Mar-13 340 280 310 39,896 6,244,766 1,924,867 19
-45% Apr-13 315 250 285 39,444 7,053,954 1,939,697 22
Jan 10 Jan 11 Jan 12 Jan 13 Jan 14 May-13 315 260 305 31,057 4,680,750 1,351,265 22
Jun-13 305 225 245 20,036 2,017,136 533,858 19
Jul-13 255 220 250 12,627 1,470,768 357,053 23
Volume (Million Sh.) 25,339 29,733 28,856 44,569 1,604 Sep-13 230 180 205 29,553 4,283,944 856,667 21
Value (Billion Rp) 3,100 5,995 7,403 11,393 267 Oct-13 230 191 215 20,303 1,808,211 358,312 21
Frequency (Thou. X) 208 194 212 299 25 Nov-13 210 170 173 23,564 1,610,543 297,182 20
Days 245 247 246 244 20 Dec-13 181 157 157 20,765 1,621,228 285,969 19
Price (Rupiah) Jan-14 178 149 155 25,046 1,603,996 267,186 20

High 168 325 330 340 178
Low 82 95 184 157 149
Close 109 265 189 157 155
Close* 109 265 189 157 155
PER (X) 47.51 60.95 26.85 4.92 4.86

PER Industry (X) 9.97 11.09 17.34 17.79 16.27
PBV (X) 0.76 1.81 1.23 0.70 0.69

Public Accountant : Tanubrata Sutanto Fahmi & Rekan (Member of BDO International Limited)
Cash & Cash Equivalents 13,804 190,979 88,820 76,911 493,413 11,250
Receivables 147,969 170,912 310,059 464,954 669,173

1,151,548 1,222,819 1,124,722 1,253,660 5,069,547 9,000
Inventories
Investment 24,595 1,558,284 1,559,624 1,787,841 37,500
6,750
Fixed Assets 34,110 28,622 45,363 126,265 1,305,493
Other Assets - - - 35,756
4,500
Total Assets 2,784,022 4,814,315 5,290,383 6,154,231 10,665,713
Growth (%) 72.93% 9.89% 16.33% 73.31% 2,250
Bank Payable - 336,714 602,856 1,515,819 -

Trade Payable 54,375 54,044 56,420 70,062 280,973 2009 2010 2011 2012 2013
Total Liabilities 500,157 690,154 695,847 1,337,823 3,785,871
Growth (%) 37.99% 0.82% 92.26% 182.99%
Paid up Capital 1,981,251 3,833,841 4,119,241 4,119,241 4,119,241 6,880

Par Value 2,000 & 400 & 100 2,000 & 400 & 100 2,000 & 400 & 100 2,000 & 400 & 100 2,000 & 400 & 100
5,476
4,816
4,595
-126,737 -71,061 64,507 285,630 915,858 4,107
Retained Earnings
4,073
Total Equity 2,282,497 4,106,829 4,594,536 4,816,408 6,879,843

Growth (%) 79.93% 11.88% 4.83% 42.84% 2,669
2,282
Total Revenues 162,659 443,548 457,833 622,705 961,988

Growth (%) 172.69% 3.22% 36.01% 54.49%
-138
2009 2010 2011 2012 2013
Cost of Revenues 83,616 231,005 221,458 279,001 364,924

Gross Profit 79,042 212,543 236,374 343,704 597,064
Operating Expenses 56,692 75,696 110,506 -109,963 528,245
Operating Profit 22,350 136,847 125,868 233,741 68,819 962
Growth (%) 512.28% -8.02% 85.70% -70.56%

962
766
Other Income (Expenses) -12,844 -33,386 30,986 14,604 571,311 623
Income before Tax 9,507 103,461 156,854 248,345 640,130

458
569
444
Tax 7,049 20,301 20,404 27,419 35,034
373
Growth (%) 3,284.37% 64.08% 61.91% 173.89% 163

177
Dividend (Rp) - - - - -
605
EPS (Rp) 0.25 2.29 4.32 7.04 20.07 605
BV (Rp) 227.86 143.88 146.34 153.40 219.12

DAR (X) 0.18 0.14 0.13 0.22 0.35 482
DER(X) 0.22 0.17 0.15 0.28 0.55

0.09 1.73 2.58 3.59 5.67
358
ROA (%)
ROE (%) 0.11 2.02 2.97 4.59 8.80 221
235
GPM (%) 48.59 47.92 51.63 55.20 62.07 136

83
OPM (%) 13.74 30.85 27.49 37.54 7.15 111
NPM (%) 1.51 18.75 29.80 35.48 62.90 2.5
Payout Ratio (%) - - - - -

-12
2009 2010 2011 2012 2013

Yield (%) - - - - -

COMPANY REPORT
BMRI
BANK MANDIRI (PERSERO) TBK.
Company Profile
PT Bank Mandiri (Persero) Tbk. was formed on October 2, 1998 as part of the government
of Indonesias bank restructuring program. Bank Mandiri is the largest bank in Indonesia.
To support the achievement of the vision of Bank Mandiri To be Indonesias most admired
and progressive financial institution Bank Mandiri changing the structure of its
organization into Strategic Business Units (SBU). The SBU is consists of three major groups,
namely:
1. Business Units,
2. Corporate Center,
3. Shared Services.
As of December 31st, 2013 the Bank had 12 regional offices, 70 area offices, 992 branch
offices, 687 Mandiri Mitra Usaha offices, 301 cash outlets. PT Bank Mandiri (Persero) Tbk.
has several branch offices in overseas: Cayman Islands, Singapore, Hong Kong, Timor Leste
and Shanghai (RRC).
Bank Mandiri is well supported by its subsidiaries. There are, PT Bank Syariah Mandiri, PT
Usaha Gedung Mandiri, PT Bumi Daya Plaza, Bank Mandiri (Europe) Limited, PT Mandiri
Sekuritas, PT Bank Sinar Harapan Bali, PT Mandiri Tunas Finance, Mandiri International
Remittance Sendirian Berhad, PT AXA Mandiri Financial Services, and PT Mandiri AXA
General Insurance.
As of December 31st, 2013, Bank Mandiri employed 33,982 employees and operated 2,050
branches across Indonesia and 5 overseas branches.
January 2014
Disclaimer:

BMRI Bank Mandiri (Persero) Tbk.
7 | 201.0T | 4.63% | 37.94%
4 | 50.2T | 4.55% | 20.21%

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
Wisma Sudirman - Puri Datindo 2003 115.00 11-Jun-04 14-Jun-04 16-Jun-04 30-Jun-04 F
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. Edwin Gerungan *) 2008 88.55 26-May-09 27-May-09 29-May-09 12-Jun-09 F
2. Abdul Aziz 2009 19.26 02-Dec-09 03-Dec-09 07-Dec-09 22-Dec-09 F
3. Agus Suprijanto 2010 19.64 21-Dec-10 22-Dec-10 27-Dec-10 30-Dec-10 I
4. Gunarni Soeworo *) 2010 120.60 15-Jun-11 16-Jun-11 20-Jun-11 30-Jun-11 F
5. Krisna Wijaya *) 2011 104.97 15-May-12 16-May-12 22-May-12 05-Jun-12 F
6. Pradjoto *) 2012 199.33 26-Apr-13 29-Apr-13 01-May-13 16-May-13 F
7. Wahyu Hidayat 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 Gunadi 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 Nelwan 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. Gunarni Soeworo 13. Right Issue 2,313,505,257 02-Mar-11 02-Mar-11
2. Agus Suprijanto
3. Budi Sulistio
4. Krisna Wijaya
5. Wahyu Hidayat
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
140%
Jan-12 7,150 6,600 6,700 38,879 724,875 4,954,614 21
120% Feb-12 6,750 6,000 6,450 76,926 1,462,741 9,269,521 21
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
May-12 7,450 6,650 6,900 23,052 615,116 4,369,398 21
87.8%
80% 79.6%
Jun-12 7,350 6,550 7,200 24,789 420,561 2,956,044 21
71.6% 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 20 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 9,525
Low 4,150 5,100 6,000 6,250 7,600
Close 6,500 6,750 8,100 7,850 8,700
Close* 6,392 6,750 8,100 7,850 8,700
PER (X) 14.81 12.62 11.63 10.73 11.89

PER Industry (X) 16.00 6.61 6.58 17.01 18.74
PBV (X) 3.29 2.51 2.47 2.19 2.42

Cash on Hand 8,867,881 9,521,713 11,357,523 15,286,190 19,051,934 737,500

18,153,392 27,247,529 12,002,918 10,769,775 26,802,548 590,000
Loans 184,690,704 232,545,259 298,988,258 370,570,356 450,634,798
442,500
Investment 186,848 7,218,361 38,785 11,366,225 616,821
Fixed Assets 4,963,306 5,527,000 6,589,594 7,002,690 7,645,598
295,000
Other Assets 3,812,265 5,384,797 7,249,901 7,339,965 8,908,732
Total Assets 394,616,604 449,774,551 551,891,704 635,618,708 733,099,762 147,500
Growth (%) 13.98% 22.70% 15.17% 15.34%
-
Deposits 330,336,908 369,842,016 397,046,488 456,854,700 521,439,569 2009 2010 2011 2012 2013
Taxes Payable 1,855,829 1,408,798 761,737 2,662,421 2,126,864
Fund Borrowings 3,944,356 5,634,838 11,703,498 11,608,832 15,997,188
Growth (%) 13.47% 20.00% 14.28% 15.24% 88,791
76,533

70,677
62,654
Paid up Capital 10,485,058 10,498,247 11,666,667 11,666,667 11,666,667

52,564

35,109
Par Value 500 500 500 500 500 34,451

Total Equity 35,108,769 41,542,808 62,654,408 76,532,865 88,790,596 16,337
Growth (%) 18.33% 50.82% 22.15% 16.02%

-1,776
2009 2010 2011 2012 2013

Growth (%) 4.09% 11.19% 12.78% 18.00%

50,209
Other Operating Revenue 5,484,363 8,432,817 11,768,351 11,897,822 14,686,637 42,550

37,730
32,599 33,932
Growth (%) 31.70% 18.97% 20.04% 20.01% 29,724
Non-Operating Revenues 389,596 230,142 163,102 878,821 510,126

19,481

9,238

Profit for the period 7,198,488 9,369,226 12,695,885 16,043,618 18,829,934 -1,004
Growth (%) 30.16% 35.51% 26.37% 17.37% 2009 2010 2011 2012 2013

18,830
18,830
16,044
RATIOS Dec-09 Dec-10 Dec-11 Dec-12 Dec-13
Dividend (Rp) 19.26 140.24 104.97 199.33 234.05 14,989
12,696
EPS (Rp) 343.27 439.04 524.83 664.46 780.16
11,147
9,369
BV (Rp) 1,674.23 1,978.56 2,685.19 3,279.98 3,805.31
7,198
DAR (X) 0.91 0.91 0.89 0.88 0.88 7,306
DER(X) 10.23 9.81 7.81 7.31 7.26

ROA (%) 1.82 2.08 2.30 2.52 2.57 3,465
ROE (%) 20.50 22.55 20.26 20.96 21.21

OPM (%) 32.01 40.50 43.33 46.12 46.91
-377
2009 2010 2011 2012 2013

NPM (%) 22.08 27.61 33.65 37.70 37.50
Payout Ratio (%) 5.61 31.94 20.00 30.00 30.00
Yield (%) 0.41 2.16 1.56 2.46 2.98

COMPANY REPORT
BMTR
GLOBAL MEDIACOM TBK.
Company Profile
PT Global Mediacom Tbk. was established in Jakarta at June 30th, 1981, and at March 27th,
2007 the name of PT Bimantara Citra Tbk. was changed to PT Global Mediacom Tbk. The
Company started commercial operations in 1982.
In accordance with article 3 of the Companys Articles of Association, the scope of its
activities is in the fields of industry, mining, transportation, agriculture,
telecommunications, real estate, architecture, construction (developer), printing, services
and trade, media and investment. Currently, the Company is engaged in investment sector
and the parent company of several subsidiaries.
On December 31st, 2013, the Company and its subsidiaries (Group) had total employees
of 9,614.
January 2014
Disclaimer:

BMTR Global Mediacom Tbk. [S]
Industry Sub Sector : Investment Company (98) Market Capitalization : 25,997,498,792,500
32 | 26.0T | 0.60% | 67.09%
20 | 14.0T | 1.26% | 52.52%

Established Date : 30-Jun-1981 1. DB Ag HK S/A PT Bhakti Investama Tbk. Hy-2059974012 3,276,739,030 : 23.32%
Listing Date : 17-Jul-1995 2. PT MNC Investama Tbk. 2,774,323,970 : 19.74%
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
2. David Fernando Audy ISSUED HISTORY
3. Handhianto Suryo Kentjono Listing Trading
4. Indra Pudjiastuti Prastomiyono No. Type of Listing Shares Date Date
5. Muhamad Budi Rustanto 1. First Issue 200,000,000 T: 17-Jul-95 : 10-Jun-10
6. Oerianto Guyandi 2. Company Listing 760,000,000 T: 17-Jul-95 : 11-Jun-10
3. Convertible Bond 57,000,000 T: 17-Jul-95 : 20-Feb-96
AUDIT COMMITTEE 4. Option Conversion 1,088,576 T: 30-Apr-02 : 03-Jun-02
1. Kardinal Alamsyah Karim 5. ESOP Conversion 84,293,938 T: 20-Jun-02 : 19-Sep-11
2. Hery Kusnanto 6. Right Issue 266,978,118 28-Jul-04 28-Jul-04
3. Mohamed Idwan Ganie 7. Bonus Shares 1,299,013,678 26-Jul-06 26-Jul-06
8. Stock Split 10,417,945,240 24-Apr-07 24-Apr-07
CORPORATE SECRETARY 9. Additional Listing without RI 685,168,000 06-Jul-07 06-Jul-07
Arya Mahendra Sinulingga 10. ESOP Conversion I 43,722,000 T: 17-Mar-11 : 07-Jun-11
11. ESOP Conversion I & II 34,647,500 T: 23-Sep-11 : 12-Mar-12
HEAD OFFICE 12. ESOP Conversion I, II & III 106,578,500 T: 16-Mar-12 : 18-Oct-12
MNC Tower 27th - 29th Fl. 13. ESOP Conversion II & III 5,838,500 28-Sep-12 28-Sep-12
Jln. Kebon Sirih 17 - 19 14. ESOP Conversion II, III, IV & V 62,991,500 29-May-13 29-May-13
Jakarta 15. Revision ESOP Conversion II, III, IV & V 8,000 21-Jun-13 21-Jun-13
Phone : (021) 390-9211 16. ESOP Conversion III, IV & V 21,741,500 27-Nov-13 27-Nov-13
Fax : (021) 390-9207, 230-5281, 392-7859
Homepage : www.mediacom.co.id
Email : am.sinulingga@mediacom.co.id

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 - January 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
May-12 1,790 1,240 1,360 26,969 1,268,031 2,101,421 21
781.0%
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
Dec-12 2,625 2,300 2,400 23,246 512,440 1,265,081 18
180% 180.6%
71.6% 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
Value (Billion Rp) 3,706 6,106 17,238 17,013 364 Oct-13 2,200 1,810 1,910 31,060 882,237 1,828,517 21
Days 245 247 246 244 20 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 1,950
Low 205 560 980 1,370 1,780
Close 650 990 2,400 1,900 1,850
Close* 650 990 2,400 1,900 1,850
PER (X) 15.46 70.40 16.21 31.68 30.84

PER Industry (X) 21.27 16.89 19.08 15.43 17.12
PBV (X) 1.21 1.63 2.34 1.86 1.81

Public Accountant : Osman Bing Satrio & Eny (Member of Deloitte Touche Tohmatsu Limited)
Cash & Cash Equivalents 1,276,332 1,141,628 1,165,245 952,529 1,529,588 21,250
Receivables 2,076,270 2,453,904 2,407,692 3,113,957 3,630,541

1,131,998 1,106,101 1,134,041 1,636,122 1,803,445 17,000
Inventories
Current Assets 5,985,526 5,937,277 6,085,670 10,781,083 9,748,947
12,750
Fixed Assets 1,769,444 2,793,271 2,668,000 3,734,879 4,906,183
Other Assets 475,394 551,502 534,326 605,330 824,763
8,500
Total Assets 13,481,189 12,959,942 13,129,083 19,995,526 21,069,471
Growth (%) -3.87% 1.31% 52.30% 5.37% 4,250

Long Term Liabilities 2,293,188 1,547,624 1,518,217 3,218,162 4,035,376 2009 2010 2011 2012 Dec-13
Growth (%) 11.78% -0.08% 20.21% 35.38%
Paid up Capital 1,376,290 1,377,021 1,379,116 1,396,796 1,405,270 14,374 13,353

Par Value 100 100 100 100 100
11,441

8,509
7,051 7,382
Total Equity 7,050,623 7,381,739 8,387,455 14,295,756 13,353,037
Growth (%) 4.70% 13.62% 70.44% -6.59% 5,577
Total Revenues 5,034,905 6,326,514 1,573,888 8,925,419 10,019,977

Growth (%) 25.65% -75.12% 467.09% 12.26%
-287
2009 2010 2011 2012 Dec-13
Cost of Revenues 4,325,000 4,846,631 1,143,270 4,753,060 5,486,919

Gross Profit 709,905 1,479,883 430,618 4,172,359 4,533,058
Expenses (Income) 4,325,000 4,846,631 1,143,270 1,610,968 3,021,595
Operating Profit 709,905 1,479,883 430,618 - - 10,020
108.46% -70.90% 8,925

Growth (%) 8,925
Other Income (Expenses) -119,449 -284,191 -54,156 - - 7,105

6,327
Income before Tax 590,884 1,195,599 376,462 2,561,391 1,511,463 5,035
5,284
Tax 259,422 345,087 94,283 567,902 481,817

Profit for the period 331,462 850,512 1,163,770 1,993,489 1,029,646 3,463
Growth (%) 156.59% 36.83% 71.30% -48.35% 1,574

1,642
Period Attributable 157,208 578,865 779,363 1,299,085 620,395 -179
Comprehensive Income 438,463 786,373 1,190,493 2,068,219 1,101,619 2009 2010 2011 2012 Dec-13
Comprehensive Attributable 270,340 533,904 796,711 1,369,492 692,368
Current Ratio (%) 306.63 185.68 188.80 434.44 264.84
1,993
Dividend (Rp) 5.00 10.00 - 24.00 - 1,993
EPS (Rp) 11.42 42.04 56.51 93.00 44.15

BV (Rp) 512.29 536.07 608.18 1,023.47 950.21 1,587
DAR (X) 0.31 0.37 0.36 0.29 0.37 1,164

1,180
1,030
DER(X) 0.60 0.64 0.57 0.40 0.58 851
ROA (%) 2.46 6.56 8.86 9.97 4.89 773
ROE (%) 4.70 11.52 13.88 13.94 7.71

331
GPM (%) 14.10 23.39 27.36 46.75 45.24 367
OPM (%) 14.10 23.39 27.36 - -

NPM (%) 6.58 13.44 73.94 22.33 10.28
-40
2009 2010 2011 2012 Dec-13

Payout Ratio (%) 43.77 23.79 - 25.81 -
Yield (%) 2.38 1.54 - 1.00 -

C
COOM
MPPA
ANNY
Y R
REEP
POOR
RTT
BSDE
BUMI SERPONG DAMAI TBK.
Company Profile
PTBumiSerpongDamaiTbk.whichisalsopartofSinarMasLand,wasestablishedin1984
andstartedcommercialoperationsin1989.

The Companys 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
theBSDCity.

The Company and its subsidiaries are incorporated and conduct their operations in
Indonesia. The Group operates under the group of PT Paraga Artamida. The ultimate
parentoftheGroupisSinarmasLandLimited,alimitedliabilitycompanyincorporatesin
Singapore.

AsofDecember31st,2013,theCompanyhad2,368employees(unaudited).
January 2014
Disclaimer:

BSDE Bumi Serpong Damai Tbk. [S]
33 | 25.2T | 0.58% | 67.67%
18 | 16.3T | 1.48% | 49.96%

Established Date : 16-Jan-1984 1. PT Paraga Arta Mida 4,422,720,330 : 25.00%
Listing Date : 06-Jun-2008 2. PT Ekacentra Usahamaju 4,404,400,500 : 25.00%
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
Plaza BII Menara 1, 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
Phone : (021) 392-2332 2012 15.00 21-Jun-13 24-Jun-13 26-Jun-13 10-Jul-13 F
Fax : (021) 392-3003
ISSUED HISTORY
1. Muktar Widjaja No. Type of Listing Shares Date Date
2. Benny Setiawan Santoso 1. First Issue 1,093,562,000 06-Jun-08 06-Jun-08
3. Edwin Hidayat Abdullah *) 2. Company Listing 9,842,060,870 06-Jun-08 01-Feb-09
4. Franky Oesman Widjaja 3. Right Issue I 6,561,373,722 21-Dec-10 21-Dec-10
5. Susiyati Bambang Hirawan *)
6. Teddy Pawitra *)
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 (Non-affiliated)
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 - January 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
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
149.6% 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
Oct-12 1,310 1,020 1,240 25,587 1,192,184 1,397,115 22
90%
78.3% Nov-12 1,290 1,180 1,210 11,502 584,368 723,218 20
71.6%
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 20 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 1,600
Low 550 630 930 1,090 1,200
Close 900 980 1,110 1,290 1,440
Close* 900 980 1,110 1,290 1,440
PER (X) 39.93 16.94 13.12 7.87 8.78

PER Industry (X) 9.97 11.09 17.34 17.79 16.27
PBV (X) 2.57 2.08 1.84 1.76 1.97

Public Accountant : Mulyamin Sensi Suryanto & Lianny (Member of Moore Stephens International Ltd.)
Receivables 11,020 102,632 86,978 83,188 110,327

1,734,152 2,883,392 3,012,273 3,374,802 3,796,776 19,000
Inventories
Investment 38,360 80,376 636,702 769,378 1,652,477
14,250
Fixed Assets 113,330 365,038 486,920 415,371 437,868
Other Assets - 4,238 5,849 415 415
9,500
Total Assets 4,592,836 11,694,748 12,787,377 16,756,718 22,572,159
Growth (%) 154.63% 9.34% 31.04% 34.71% 4,750
Bank Payable - - 97,000 91,000 1,362,669 -

Trade Payable 22,130 15,540 44,602 177,681 95,715 2009 2010 2011 2012 2013
Growth (%) 89.97% 5.86% 37.41% 47.10%
Paid up Capital 1,093,562 1,749,700 1,749,700 1,749,700 1,749,700
Par Value 100 100 100 100 100
10,679
8,257
Retained Earnings 761,897 1,088,782 1,828,867 2,939,944 5,368,885
7,942
Total Equity 2,340,125 6,132,282 8,257,225 10,531,704 13,415,298 6,132

Growth (%) 162.05% 34.65% 27.55% 27.38% 5,205
2,340
Total Revenues 1,270,592 2,477,203 2,806,339 3,727,812 5,741,264

Growth (%) 94.96% 13.29% 32.84% 54.01%
-268
2009 2010 2011 2012 2013
Cost of Revenues 637,957 940,509 1,021,278 1,346,826 1,575,447

Gross Profit 632,635 1,536,693 1,785,061 2,380,986 4,165,817
Operating Expenses 176,177 666,219 824,506 949,431 1,256,190
5,741
Growth (%) 90.70% 10.35% 49.03% 103.25%

4,570
Other Income (Expenses) -80,289 -11,950 155,769 221,921 322,189 3,728
Income before Tax 376,169 662,111 1,170,231 1,696,564 3,278,954 3,399
2,806
2,477
Tax 67,430 142,407 158,197 217,705 373,306
Profit for the period 308,738 519,704 1,012,034 1,478,859 2,905,649
2,228
1,271
Growth (%) 68.33% 94.73% 46.13% 96.48%
1,056
Period Attributable 308,738 394,403 840,780 1,286,047 2,691,396 -115
Comprehensive Income 308,738 519,810 1,012,301 1,480,581 2,909,347 2009 2010 2011 2012 2013
Comprehensive Attributable - 394,494 840,949 1,287,149 2,695,880
Dividend (Rp) 6.00 6.00 - 15.00 -
2,906
EPS (Rp) 28.23 22.54 48.05 73.50 153.82 2,906
BV (Rp) 213.99 350.48 471.92 601.91 766.72

DAR (X) 0.49 0.37 0.35 0.37 0.41 2,313
DER(X) 0.96 0.70 0.55 0.59 0.68

1,720
1,479
ROA (%) 6.72 4.44 7.91 8.83 12.87
ROE (%) 13.19 8.47 12.26 14.04 21.66 1,127
1,012
GPM (%) 49.79 62.03 63.61 63.87 72.56

520
OPM (%) 35.92 35.14 34.23 38.40 50.68 535
309
NPM (%) 24.30 20.98 36.06 39.67 50.61
Payout Ratio (%) 21.25 26.62 - 20.41 -
-58
2009 2010 2011 2012 2013

Yield (%) 0.68 0.67 - 1.35 -

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 Companys branches are located in Sidoardjo, Medan, Tangerang, Balaraja, Serang,
Lampung, Denpasar, Surabaya, Semarang, Makasar, Salatiga, and Cirebon.
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.
The Company and Subsidiaries had 4,414 employees as of December 31st, 2013.
January 2014
Disclaimer:

CPIN CharoenPokphandIndonesiaTbk.[S]
Industry Sector : Basic Industry And Chemicals (3) Listed Shares : 16,398,000,000
Industry Sub Sector : Animal Feed (36) Market Capitalization : 67,805,730,000,000
14 | 67.8T | 1.56% | 51.38%
25 | 9.86T | 0.89% | 57.82%

Established Date : 07-Jan-1972 1. PT Central Agromina 9,106,385,410 : 55.53%
Listing Date : 18-Mar-1991 2. UBS AG Singapore Non-Treaty Omnibus Account 956,671,330 : 5.83%
PT Danareksa
PT Makindo DIVIDEND ANNOUNCEMENT
PT Asean Development Securities Bonus Cash Recording Payment
F/I
PT Surya Securities Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1990 50.00 25-Jul-91 26-Jul-91 02-Aug-91 21-Aug-91 F
PT Adimitra Transferindo 1991 175.00 03-Jun-92 04-Jun-92 15-Jun-92 22-Jun-92 F
Plaza Property 2nd Fl. Komp. Pertokoan Pulomas Blok VIII No. 1 1992 200.00 30-Oct-92 02-Nov-92 09-Nov-92 17-Nov-92 I
Jln. Perintis Kemerdekaan Jakarta 13210 1992 315.00 15-Jun-93 16-Jun-93 24-Jun-93 23-Jul-93 F
Phone : (021) 478-81515 (Hunting) 1993 200.00 02-Dec-93 03-Dec-93 10-Dec-93 20-Dec-93 I
Fax : (021) 470-9697 1993 73.00 22-Jul-94 25-Jul-94 01-Aug-94 01-Sep-94 I
1993 73.00 22-Jul-94 25-Jul-94 01-Aug-94 01-Sep-94 F
1. Hadi Gunawan Tjoe 1995 230.00 21-Sep-95 22-Sep-95 02-Oct-95 09-Oct-95 I
2. Herman Sugianto *) 1997 4:1 06-Jun-97 09-Jun-97 17-Jun-97 01-Jul-97
3. Jiacipto Jiaravanon 1996 20.00 27-Aug-97 28-Aug-97 05-Sep-97 01-Oct-97 F
4. Jialipto Jiaravanon 1999 50.00 11-Sep-00 12-Sep-00 19-Sep-00 05-Oct-00 F
5. Suparman Satrodimedjo *) 2001 10.00 02-Aug-02 05-Aug-02 08-Aug-02 15-Aug-02 F
6. Tjiu Thomas Effendy 2002 15.00 23-Sep-03 24-Sep-03 26-Sep-03 10-Oct-03 F
*) Independent Commissioners 2006 38.00 30-Jul-07 31-Jul-07 02-Aug-07 16-Aug-07 F
2009 196.00 22-Jun-10 23-Jun-10 25-Jun-10 09-Jun-10 F
BOARD OF DIRECTORS 2010 25.00 24-Jan-11 25-Jan-11 27-Jan-11 09-Feb-11 I
1. Rusmin Ryadi 2010 39.80 16-Jun-11 17-Jun-11 21-Jun-11 05-Jul-11 F
2. Eddy Dharmawan Mansjoer 2011 42.00 07-Jun-12 08-Jun-12 12-Jun-12 26-Jun-12 F
3. Ferdiansyah Gunawan Tjoe 2012 46.00 28-Jun-13 01-Jul-13 03-Jul-13 17-Jul-13 F
4. Jemmy
5. Ong Mei Sian ISSUED HISTORY
6. Peraphon Prayooravong Listing Trading
7. Vinai Rakphongphairoj No. Type of Listing Shares Date Date
1. First Issue 2,500,000 18-Mar-91 18-Mar-91
AUDIT COMMITTEE 2. Partial Listing 5,000,000 18-Mar-91 18-Jun-91
1. Herman Sugianto 3. Company Listing 45,000,000 11-Nov-91 18-Nov-91
2. Petrus Julius 4. Convertible Bonds 839,738 20-Oct-94 20-Oct-94
3. Rudy Dharma Kusuma 5. Convertible Bonds 2,967,029 01-Dec-94 01-Dec-94
4. Suparman Satrodimedjo 6. Right Issue 56,306,767 07-Feb-95 07-Feb-95
5. Yustinus Eddy Tiono 7. Stock Split 112,613,534 26-May-97 26-May-97
8. Bonus Shares 56,306,767 02-Jul-97 02-Jul-97
CORPORATE SECRETARY 9. Stock Split 1,126,135,340 15-Jan-01 15-Jan-01
Hadijanto Kartika 10. Right Issue 234,611,529 01-Aug-07 01-Aug-07
11. Stock Split 1,642,280,704 01-Nov-07 01-Nov-07
HEAD OFFICE 12. Stock Split 13,138,245,632 08-Dec-10 08-Dec-10
Jln. Ancol VIII/1 13. Buy back -24,807,040 03-Jan-12 03-Jan-12
Jakarta 14430
Phone : (021) 691-9999
Fax : (021) 690-7324
Homepage : www.cp.co.id
Email : hadijanto@cp.co.id

CPIN Charoen Pokphand Indonesia Tbk. [S]
TRADING ACTIVITIES
Charoen Pokphand Indonesia Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
5,600 320 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
4,900 280 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
4,200 240
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
3,500 200
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
2,800 160
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
2,100 120 Dec-10 9,600 1,650 1,840 33,787 460,274 1,101,932 20
1,400 80 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 40 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
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% 839.8% Apr-12 2,825 2,625 2,750 14,447 163,751 443,008 20
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%
86.2% Jan-13 4,025 3,400 3,875 22,837 172,807 627,478 21
71.6%
- 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 20 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 4,225
Low 1,650 1,380 2,100 2,550 3,260
Close 1,840 2,150 3,650 3,375 4,135
Close* 1,840 2,150 3,650 3,375 4,135
PER (X) 13.67 14.95 22.33 18.79 23.02

PER Industry (X) 12.86 10.41 9.79 17.44 13.29
PBV (X) 6.78 5.70 7.32 5.75 7.04

CPIN Charoen Pokphand Indonesia Tbk. [S]
Receivables 869,233 946,603 1,381,707 1,846,576 2,531,089

1,575,018 1,554,780 2,339,543 3,366,317 4,044,737 13,000
Inventories
Current Assets 3,281,275 4,274,636 5,250,245 7,180,890 8,824,900
9,750
Fixed Assets 1,685,370 1,931,069 3,198,604 4,593,000 6,389,545
Other Assets 38,322 46,685 51,645 46,105 49,920
6,500
Total Assets 5,349,375 6,518,276 8,848,204 12,348,627 15,722,197
Growth (%) 21.85% 35.74% 39.56% 27.32% 3,250

Long Term Liabilities 592,301 574,899 1,083,182 2,004,511 3,444,249 2009 2010 2011 2012 2013
Growth (%) -15.08% 30.57% 56.92% 38.33%
Paid up Capital 164,228 16,398 163,980 163,980 163,980 9,951
Par Value 50 10 10 10 10
7,921
6,189
5,891
Total Equity 2,933,018 4,458,432 6,189,470 8,176,464 9,950,900 4,458

Growth (%) 52.01% 38.83% 32.10% 21.70% 3,861
2,933
Total Revenues 14,559,005 15,077,822 17,957,972 21,310,925 25,662,992

Growth (%) 3.56% 19.10% 18.67% 20.42%
-199
2009 2010 2011 2012 2013
Cost of Revenues 11,689,920 11,323,708 14,033,726 16,819,413 20,513,184

Gross Profit 2,869,085 3,754,114 3,924,246 4,491,512 5,149,808
Expenses (Income) 812,204 993,116 915,033 1,032,832 1,571,511
25,663
Growth (%) 34.23% 8.99% 14.94% 8.66% 21,311

20,428
17,958
Other Income (Expenses) 103,515 57,229 -34,633 -82,181 -126,964
14,559 15,078
Tax 540,978 598,366 612,083 695,627 922,643

9,957
Growth (%) 37.08% 6.43% 13.48% -5.68%

4,722
Current Ratio (%) 181.75 292.51 333.23 331.28 379.23
2,681
Dividend (Rp) 196.00 64.80 42.00 46.00 - 2,681
2,529
2,362
EPS (Rp) 493.04 1,347.89 143.64 163.68 154.34 2,220
BV (Rp) 892.97 2,718.89 377.45 498.63 606.84 2,134
0.45 0.31 0.30 0.34 0.37 1,619

DAR (X)
1,587
DER(X) 0.82 0.46 0.43 0.51 0.58

ROA (%) 30.27 34.06 26.70 21.71 16.08 1,040
ROE (%) 55.21 49.79 38.17 32.79 25.41

GPM (%) 19.71 24.90 21.85 21.08 20.07 493
OPM (%) 14.13 18.31 16.76 16.23 14.64

NPM (%) 11.12 14.72 13.16 12.58 9.85
-54
2009 2010 2011 2012 2013

Payout Ratio (%) 39.75 4.81 29.24 28.10 -
Yield (%) 8.71 3.52 1.95 1.26 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
CTRA
CIPUTRA DEVELOPMENT TBK.
Company Profile
PT Ciputra Development Tbk. (the Company) was established on October 22nd, 1981 based
on Notarial Deed No. 22 by Hobropoerwanto, S.H., Notary in Jakarta.
Based on Article 3 of the Company's Articles of Association, the Companys business scope
include: development and construction, investment, service, industry and trading, by
establishing and running business in the areas of housing development (real estate), office
buildings, shopping centers and commercial centers and industrial facilities and areas, as
well as establishing and running businesses in fields that related to the planning, creation
and maintenance of housing facilities, including but not limited to golf courses, family clubs,
restaurants and other entertainment venues and facilities.
The Companys head office is located at Jalan Prof. DR. Satrio Kav. 6, South Jakarta. Its
project, namely Citra Housing 1, 2, and 5 is located in Kalideres, Jakarta.
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.
The Company has direct and indirect subsidiaries:

PT Ciputra Property Tbk. and subsidiary (listed in IDX),
PT Ciputra Surya Tbk. and subsidiary (listed in IDX),
PT Ciputra Residence and subsidiary,
PT Ciputra Indah and subsidiary,
PT Ciputra Graha Mitra and subsidiary,
PT Ciputra Raya Sejahtera,
Long Field Enterprises Limited,
PT Penta Oktoeneatama and subsidiary,
PT Citraland Graha Realty, and
PT Citra Tumbuh Bahagia.
As of December 31st, 2013, the Company and subsidiaries had 2,306 employees.
January 2014
Disclaimer:

CTRA Ciputra Development Tbk. [S]
60 | 13.0T | 0.30% | 78.48%
66 | 4.31T | 0.39% | 82.17%

Established Date : 22-Oct-1981 1. PT Sang Pelopor 4,644,750,000 : 30.63%
Listing Date : 28-Mar-1994 2. Credit Suisse AG Singapore Trust A/C Clients - 2023 1,202,678,976 : 7.93%
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 F
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
BOARD OF COMMISSIONERS ISSUED HISTORY

1. Ciputra Listing Trading
2. Cosmas Batubara *) No. Type of Listing Shares Date Date
3. Dian Sumeler 1. First Issue 50,000,000 28-Mar-94 28-Mar-94
4. Widigdo Sukarman *) 2. Company Listing 200,000,000 T: 28-Mar-94 : 18-Oct-94
*) Independent Commissioners 3. Stock Split 250,000,000 05-Aug-96 05-Aug-96
4. Right Issue 2,699,860,570 T: 08-Oct-96 : 27-Dec-06
BOARD OF DIRECTORS 5. Bonus Shares 862,500,000 04-Dec-00 04-Dec-00
1. Candra Ciputra 6. Additional Listing without RI 2,307,276,912 03-Apr-06 03-Apr-06
2. Budiarsa Sastrawinata 7. Warrant I 1,213,270,515 T: 06-Jun-07 : 03-Dec-09
3. Cakra Ciputra 8. Stock Splits 7,582,907,997 15-Jun-10 15-Jun-10
4. Harun Hajadi
5. Junita Ciputra
6. Rina Ciputra Sastrawinata
7. Tanan Herwandi Antonius
8. 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
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
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
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
249.0% Aug-12 650 600 620 6,246 381,264 236,340 19
240%
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%
149.6% Nov-12 790 660 780 5,701 297,135 217,910 20
Dec-12 850 740 800 7,681 352,705 281,639 18
80%
71.6%
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
SHARES TRADED 2010 2011 2012 2013 Jan-14 Aug-13 1,240 690 810 22,460 762,534 729,287 17
Volume (Million Sh.) 4,455 3,233 5,344 7,702 668 Sep-13 1,140 780 980 22,998 601,732 589,377 21
Value (Billion Rp) 2,198 1,435 3,743 7,932 553 Oct-13 1,110 840 1,030 28,391 744,894 709,533 21
Frequency (Thou. X) 90 68 96 252 26 Nov-13 1,060 700 730 24,531 793,303 643,125 20
Days 245 247 246 244 20 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 1,660 890
Low 320 290 530 690 750
Close 350 540 800 750 855
Close* 350 540 800 750 855
PER (X) 20.58 16.58 14.28 12.14 13.83

PER Industry (X) 9.97 11.09 17.34 17.79 16.27
PBV (X) 1.08 1.07 1.43 1.21 1.38

Receivables 133,952 198,953 324,816 580,855 779,270

2,075,316 2,154,509 2,675,218 3,310,134 4,891,787 17,000
Inventories
Investment 376,090 535,290 1,233,460 360,672 255,963
12,750
Fixed Assets 1,524,697 2,012,890 2,383,992 1,240,096 1,779,149
Other Assets 260,187 276,140 442,465 - 894,675
8,500
Total Assets 8,553,946 9,378,342 11,524,867 15,023,392 20,114,871
Growth (%) 9.64% 22.89% 30.36% 33.89% 4,250
Bank Payable - - 801,939 1,470,810 2,728,066 -

Trade Payable 11,694 27,157 27,963 10,495 662,647 2009 2010 2011 2012 2013
Growth (%) 33.48% 82.36% 68.74% 58.18%
Paid up Capital 3,791,454 3,791,454 3,791,454 3,791,454 3,791,454 9,766
8,481
Par Value 500 250 250 250 250
7,773
Retained Earnings -50,133 207,726 441,555 924,494 1,714,219

5,781
4,647 4,905
Total Equity 4,647,176 4,905,036 7,647,434 8,480,745 9,765,513
Growth (%) 5.55% 55.91% 10.90% 15.15% 3,789
Total Revenues 1,332,372 1,692,687 2,178,331 3,322,669 5,077,062

Growth (%) 27.04% 28.69% 52.53% 52.80%
-195
2009 2010 2011 2012 2013
Cost of Revenues 733,065 957,985 1,135,339 1,656,106 2,530,589

Gross Profit 599,306 734,702 1,042,992 1,666,563 2,546,473
Operating Profit 283,837 341,819 539,459 980,373 1,651,527 5,077
5,077
Growth (%) 20.43% 57.82% 81.73% 68.46%

4,041
Other Income (Expenses) 18,506 137,638 79,319 49,038 57,964 3,323
Income before Tax 298,744 482,273 618,778 1,029,411 1,709,492 3,006
71,261 93,022 124,766 180,028 296,103 2,178

Tax
1,693
Profit for the period 227,483 389,251 494,011 849,383 1,413,388
1,970
1,332
Growth (%) 71.11% 26.91% 71.94% 66.40%
934
Comprehensive Income 136,328 389,252 494,011 849,383 1,413,388 2009 2010 2011 2012 2013
Dividend (Rp) - 6.00 7.00 12.00 -
1,413
EPS (Rp) 30.00 17.01 21.42 38.84 64.40 1,413
BV (Rp) 612.85 323.43 504.25 559.20 643.92

DAR (X) 0.19 0.23 0.34 0.44 0.51 1,125
0.34 0.43 0.51 0.77 1.06 849

DER(X)
837
ROA (%) 2.66 4.15 4.29 5.65 7.03

ROE (%) 4.90 7.94 6.46 10.02 14.47 548
494
389
GPM (%) 44.98 43.40 47.88 50.16 50.16
227
OPM (%) 21.30 20.19 24.76 29.51 32.53 260
NPM (%) 17.07 23.00 22.68 25.56 27.84

Payout Ratio (%) - 35.27 32.68 30.89 -
-28
2009 2010 2011 2012 2013

Yield (%) - 1.71 1.30 1.50 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
EXCL
XL AXIATA TBK.
Company Profile
PT XL Axiata Tbk. was established on October 6th, 1989 under the name of PT
Grahametropolitan Lestari.
The Companys 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 Companys 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
Excelcomindo Finance Company B.V. Netherlands.
Throughout 2013 the Company has awarded:

Best Leader, Best Operation Manager, Best Recruitment Campaign, Best IT
Support
Contact Center Service Excellence Award 2013 Grade: Excellent
Telecom Asia Awards - Best Operator in Emerging Market
Most Admired Companies 2013
Service Quality Awards 2013, Peringkat: EMAS
Best Social Media Program of The Year, Best Use of Knowledge Management
Customer Relationship Excellence Awards
Digital Business Leader
Lifetime Achivement Awards
Indonesia Service to Care Champion 2013
The Most Youthful Brand 2013
Indonesia Most Admired Companies 2013 (WIMACO 2013)
The Best Public Companies Based on WAI
January 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 : 41,392,279,734,950
18 | 41.4T | 0.95% | 56.73%
37 | 7.64T | 0.69% | 67.13%

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
Wisma Sudirman - Puri Datindo 2007 20.00 28-Apr-08 29-Apr-08 02-May-08 16-May-08 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2010 107.00 11-May-11 12-May-11 16-May-11 31-May-11 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

1. YBhg Tan Sri Dato' Muhammad Radzi bin H. Mansor Listing Trading
2. Azran Osman Rani No. Type of Listing Shares Date Date
3. James Carl Grinwis Maclaurin 1. First Issue 1,427,500,000 29-Sep-05 29-Sep-05
4. Peter J. Chambers *) 2. Company Listing 5,662,500,000 29-Sep-05 29-Sep-05
5. Wirjawan *) 3. Right Issue 1,418,000,000 16-Dec-09 16-Dec-09
6. Yasmin Stamboel Wirjawan *) 4. Additional Listing without RI 10,566,332 26-Apr-11 26-Apr-11
7. YBhg Dato' Sri Jamaludin bin Ibrahim 5. Long Term Incentive Program 7,710,279 16-Apr-12 16-Apr-12
*) Independent Commissioners 6. Long Term Incentive Program 8,214,056 12-Apr-13 12-Apr-13
BOARD OF DIRECTORS
1. Hasnul Suhaimi
2. Dian Siswarini
3. Joy Wahjudi
4. Mohamed Adlan bin Ahmad Tajudin
5. Ongki Kurniawan
6. P. Nicanor V. Santiago III
7. Williem Lucas Timmermans
AUDIT COMMITTEE
1. Peter J. Chambers
2. Djoko Susanto
3. Yasmin Stamboel Wirjawan
CORPORATE SECRETARY
Murni Nurdini
HEAD OFFICE
Menara Prima 8th Fl.
Jln. DR. Ide Anak Agung Gde Agung Lot. E4 - 7 No. 1,
Kawasan Mega Kuningan, Jakarta Selatan - 12950
Phone : (021) 579-59387
Fax : (021) 579-59928
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
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% 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
155.3%
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
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
71.6%
Dec-12 6,100 5,400 5,700 10,391 162,549 925,074 18
45%
32.1%
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
Days 243 247 246 244 20 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 5,300
Low 1,850 3,675 4,400 3,750 4,850
Close 5,300 4,525 5,700 5,200 4,850
Close* 5,300 4,525 5,700 5,200 4,850
PER (X) 15.60 13.62 17.71 36.30 33.85

PER Industry (X) 14.36 11.09 17.53 18.40 18.52
PBV (X) 3.85 2.82 3.16 2.92 2.72

Receivables 454,063 558,601 669,978 597,077 1,332,444

19,886 61,044 66,595 49,807 49,218 33,000
Inventories
Current Assets 25,372,806 2,228,017 3,387,237 3,658,985 5,844,114
24,750
Fixed Assets 23,616,394 23,197,199 25,614,830 29,643,274 30,928,452
Other Assets 1,644,156 1,793,181 2,050,802 431,359 468,199
16,500
Total Assets 27,380,095 27,251,281 31,170,654 35,455,705 40,277,626
Growth (%) -0.47% 14.38% 13.75% 13.60% 8,250

Growth (%) -16.37% 12.50% 14.92% 24.35%
Authorized Capital 2,265,000 2,265,000 2,265,000 2,265,000 2,265,000 15,370 15,300
Paid up Capital 850,800 850,800 851,857 852,628 853,449 13,693
Par Value 100 100 100 100 100
12,235

9,099
Total Equity 8,803,113 11,715,074 13,692,512 15,370,036 15,300,147

Growth (%) 33.08% 16.88% 12.25% -0.45% 5,964
Total Revenues 13,706,051 17,458,639 18,712,778 20,969,806 21,265,060

Growth (%) 27.38% 7.18% 12.06% 1.41%
-307
2009 2010 2011 2012 2013
Cost of Revenues 11,242,207 12,674,828 14,210,511 16,617,343 19,606,772

Gross Profit 2,463,844 4,783,811 4,502,267 4,352,463 1,658,288
Expenses (Income) 11,242,207 - - - -
Operating Profit 2,463,844 - - 4,352,463 1,658,288 20,970 21,265
21,265
Growth (%) -61.90% 18,713

17,459
16,927
Other Income (Expenses) -113,578 -915,830 -637,624 -601,042 -268,621 13,706
Tax 640,798 976,720 1,034,542 -986,774 356,850

8,251
Growth (%) 69.13% -2.12% -2.31% -62.64%

3,913
Current Ratio (%) 422.25 48.83 38.81 41.86 73.69
2,891 2,830
- 107.00 129.88 135.00 - 2,765
Dividend (Rp) 2,891
EPS (Rp) 200.92 339.83 332.23 324.25 121.02

BV (Rp) 1,034.69 1,376.95 1,607.37 1,802.67 1,792.74 2,301
DAR (X) 0.68 0.57 0.56 0.57 0.62 1,709

1,712
DER(X) 2.11 1.33 1.28 1.31 1.63

ROA (%) 6.24 10.61 9.08 7.80 2.56 1,033
1,122
ROE (%) 19.42 24.68 20.67 17.99 6.75

GPM (%) 17.98 27.40 24.06 20.76 7.80 532
OPM (%) 17.98 - - 20.76 7.80

NPM (%) 12.47 16.56 15.12 13.18 4.86
-58
2009 2010 2011 2012 2013

Payout Ratio (%) - 31.49 39.09 41.63 -
Yield (%) - 2.02 2.87 2.37 -

COMPANY REPORT
GGRM
GUDANG GARAM TBK.
Company Profile
PT Gudang Garam Tbk. (the Company) previously named as PT Perusahaan Rokok Tjap
Gudang Garam Kediri (PT Gudang Garam), was established on June 30th, 1971.
The Company is engaged in cigarette industry and other related cigarette industry
activities. PT Surya Duta Investa is the Companys ultimate parent.
The Companys 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.
As of December 31st 2013, the Company and subsidiaries had 43,317 employees.
January 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 : 80,619,287,200,000
11 | 80.6T | 1.86% | 46.30%
14 | 18.9T | 1.72% | 43.74%

Established Date : 26-Jun-1958 1. PT Suryaduta Investama 1,333,146,800 : 69.29%
Listing Date : 27-Aug-1990 2. PT Suryamitra Kusuma 120,442,700 : 6.26%
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 1996 1:1 25-Apr-96 26-Apr-96 06-May-96 03-Jun-96
1997 120.00 03-Jul-98 07-Jul-98 15-Jul-98 13-Aug-98 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. Lucas Mulia Suhardjo *) 2001 300.00 02-Jul-02 03-Jul-02 08-Jul-02 19-Jul-02 F
*) Independent Commissioners 2002 300.00 27-Jun-03 30-Jun-03 02-Jul-03 11-Jul-03 F
2003 300.00 16-Jul-04 19-Jul-04 21-Jul-04 04-Aug-04 F
BOARD OF DIRECTORS 2005 500.00 21-Jul-05 22-Jul-05 26-Jul-05 08-Aug-05
1. Susilo Wonowidjojo 2005 500.00 21-Jul-06 24-Jul-06 26-Jul-06 07-Aug-06 F
2. Buana Susilo 2006 250.00 23-Jul-07 24-Jul-07 26-Jul-07 09-Aug-07 F
3. Fajar Sumeru 2007 250.00 15-Jul-08 16-Jul-08 18-Jul-08 01-Aug-08 F
4. Herry Susianto 2008 350.00 14-Jul-09 15-Jul-09 17-Jul-09 30-Jul-09 F
5. Heru Budiman 2009 650.00 13-Jul-10 14-Jul-10 16-Jul-10 29-Jul-10 F
6. Istata Taswin Siddharta 2010 880.00 25-Jul-11 26-Jul-11 28-Jul-11 08-Aug-11 F
7. Sony Sasono Rahmadi 2011 1,000.00 30-Jul-12 31-Jul-12 02-Aug-12 16-Aug-12 F
2012 800.00 22-Jul-13 23-Jul-13 25-Jul-13 15-Aug-13 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
245%
Jan-12 63,250 55,400 57,000 17,928 24,428 1,440,624 21
210% 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% 179.5% 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
140% Jun-12 62,800 53,350 61,500 12,187 19,587 1,147,973 21
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%
92.2% 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% 71.6%
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 20 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 45,525
Low 20,650 33,300 45,900 32,000 39,700
Close 40,000 62,050 56,300 42,000 41,900
Close* 40,000 62,050 56,300 42,000 41,900
PER (X) 18.56 24.08 26.62 18.73 18.68

PER Industry (X) 16.41 16.22 19.75 19.15 23.95
PBV (X) 3.63 4.86 4.07 2.85 2.85

Public Accountant : Siddharta & Widjaja (Member of KPMG International)
Receivables 1,038,958 915,004 937,987 1,382,539 2,196,086

16,853,310 20,174,168 28,020,017 26,649,777 30,241,368 50,000
Inventories
Current Assets 19,584,533 22,908,293 30,381,754 29,954,021 34,604,461
37,500
Fixed Assets 7,019,464 7,406,632 8,189,881 10,389,326 14,788,915
Other Assets 613,344 411,400 479,473 1,122,077 1,318,730
25,000
Total Assets 27,230,965 30,741,679 39,088,705 41,509,325 50,770,251
Growth (%) 12.89% 27.15% 6.19% 22.31% 12,500

Growth (%) 6.48% 54.31% 2.52% 43.28%
Paid up Capital 962,044 962,044 962,044 962,044 962,044 29,416
26,606
24,551
21,197
Par Value 500 500 500 500 500
23,415
18,302
17,414
Total Equity 18,301,537 21,197,162 24,550,928 26,605,713 29,416,271

Growth (%) 15.82% 15.82% 8.37% 10.56% 11,414
Total Revenues 32,973,080 37,691,997 41,884,352 49,028,696 55,436,954

Growth (%) 14.31% 11.12% 17.06% 13.07%
-588
2009 2010 2011 2012 2013
Cost of Revenues 25,807,564 28,826,410 31,754,984 39,843,974 44,563,096

Gross Profit 7,165,516 8,865,587 10,129,368 9,184,722 10,873,858
Expenses (Income) 1,958,679 3,007,726 3,514,397 3,159,041 418,214
55,437
Growth (%) 12.50% 12.92% -8.91% 11.05% 49,029
44,128
41,884
37,692
Other Income (Expenses) -378,084 -226,565 - -495,035 -755,518 32,973
Tax 1,342,312 1,416,507 1,656,869 -1,461,935 1,552,272

21,510
Growth (%) 20.91% 17.64% -17.94% 7.75%

10,200
Current Ratio (%) 246.00 270.08 224.48 217.02 172.21
4,958
Dividend (Rp) 650.00 880.00 1,000.00 800.00 - 4,958
4,384
4,215 4,069
EPS (Rp) 1,811.72 2,154.93 2,543.57 2,086.06 2,249.76
BV (Rp) 9,511.80 11,016.73 12,759.77 13,827.70 15,288.42 3,947
3,486
DAR (X) 0.32 0.31 0.37 0.36 0.42

2,935
DER(X) 0.48 0.44 0.59 0.56 0.73

ROA (%) 12.80 13.71 12.68 9.80 8.63 1,924
ROE (%) 19.05 19.88 20.20 15.29 14.90

GPM (%) 21.73 23.52 24.18 18.73 19.61 912
OPM (%) 15.79 15.54 15.79 12.29 12.07

NPM (%) 10.57 11.18 11.84 8.30 7.91
-99
2009 2010 2011 2012 2013

Payout Ratio (%) 35.88 40.84 39.31 38.35 -
Yield (%) 3.02 2.20 1.61 1.42 -

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
Companystarteditscommercialoperationsin2007.TheCompanyanditssubsidiarieshad
995employeesinDecember31th,2013.

PT Harum Energy Tbk. is one of the leading thermal coal producers in Indonesia with
integratedminingoperationsinEastKalimantan.Throughitssubsidiariesandjointventure
company,theCompanyoperatesthreecoalminesandatugandbargeoperation.

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 multiyear
contracts as well as spot contracts. The Company's customers include large coalfired
powergeneratingandmanufacturingcompanieslocatedthroughoutAsia.

TheCompanyhasownershipinterestdirectlyorindirectly,inthefollowingsubsidiaries:
PTMahakamSumberJaya,
PTLayarLintasJaya,
HarumEnergyAustraliaLtd.,
PTTambangBatubaraHarum,
HarumEnergyCapitalLtd.,
PTKaryaUsahaPertiwi.

January 2014
Disclaimer:

HRUM Harum Energy Tbk. [S]
103 | 6.48T | 0.15% | 87.56%
33 | 8.52T | 0.77% | 64.19%

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
Wisma Sudirman - Puri Datindo 2011 380.00 08-Jun-12 11-Jun-12 13-Jun-12 22-Jun-12 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
Phone : (021) 570-9009
Fax : (021) 570-9026 ISSUED HISTORY
Listing Trading
BOARD OF COMMISSIONERS No. Type of Listing Shares Date Date
1. Lawrence Barki 1. First Issue 200,000,000 06-Oct-10 06-Oct-10
2. Agus Rajani Panjaitan *) 2. Founder Divestment 300,000,000 06-Oct-10 06-Oct-10
3. Budi Rahardja 3. Over Allotment 50,000,000 06-Oct-10 06-Oct-10
4. Sony Budi Harsono *) 4. Company Listing 2,150,000,000 06-Oct-10 06-Oct-10
5. Yun Mulyana 5. EMSOP I 67,500 29-Dec-11 29-Dec-11
*) Independent Commissioners 6. EMSOP I 32,500 05-Jan-12 05-Jan-12
7. EMSOP I 100,000 06-Jan-12 06-Jan-12
BOARD OF DIRECTORS 8. EMSOP I 700,000 11-Jan-12 11-Jan-12
1. Ray Antonio Gunara 9. EMSOP I 2,195,000 17-Jan-12 17-Jan-12
2. David John Heap 10. EMSOP I 450,000 18-Jan-12 18-Jan-12
3. Eddy Sumarsono 11. EMSOP I 75,000 09-Jan-13 09-Jan-13
4. Kenneth Scott Andrew Thompson
AUDIT COMMITTEE
1. Agus Rajani Panjaitan
2. Simon Halim
3. Sony Budi Harsono
CORPORATE SECRETARY
Alexandra Mira Sukmawati
HEAD OFFICE
Jln. Alaydrus No. 80
Jakarta Pusat - 10130
Phone : (021) 634-5222
Fax : (021) 634-5221
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 - January 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 - January 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
80% 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
60%
Jan-13 6,700 5,900 6,000 17,532 122,383 767,026 21
40% 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
22.6% Apr-13 5,150 4,100 4,150 16,550 154,557 741,992 22
20%
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
-
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
-20% Sep-13 3,825 2,650 2,700 22,920 194,350 646,763 21
Oct-13 3,325 2,650 3,150 19,067 194,409 594,262 21
-40% Nov-13 3,700 3,150 3,300 14,639 174,952 610,100 20
-50.8% Dec-13 3,400 2,675 2,750 15,058 127,409 405,756 19
-60% -56.1%
Oct 10 Oct 11 Oct 12 Oct 13 Jan-14 2,850 2,285 2,395 31,736 179,606 448,012 20
SHARES TRADED 2010 2011 2012 2013 Jan-14

Volume (Million Sh.) 1,096 2,101 1,953 1,848 180
Value (Billion Rp) 6,602 17,642 12,808 7,253 448
Frequency (Thou. X) 37 199 201 215 32
Days 59 247 246 244 20
Price (Rupiah)
High 9,300 10,700 9,000 6,700 2,850
Low 5,200 5,900 4,875 2,350 2,285
Close 9,000 6,850 6,000 2,750 2,395
Close* 9,000 6,850 6,000 2,750 2,395
PER (X) 29.49 10.82 12.02 13.23 11.52

PER Industry (X) 17.69 16.17 8.49 19.30 13.24
PBV (X) 10.57 5.20 4.07 1.62 1.41

Cash & Cash Equivalents 1,029,592 1,660,807 1,569,658 2,225,266 6,250
Receivables 468,947 572,505 659,863 656,824

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

Long Term Liabilities 59,203 17,613 27,518 39,355 2010 2011 2012 2013
Total Liabilities 925,284 1,088,167 1,063,699 1,050,871
Growth (%) 17.60% -2.25% -1.21%
Authorized Capital 1,000,000 1,000,000 1,000,000 1,000,000 4,846
Paid up Capital 270,000 270,000 279,235 270,362 4,846
4,145
Paid up Capital (Shares) 2,700 2,700 2,792 2,704
3,557
Par Value 100 100 100 100
3,858
Retained Earnings 974,086 1,779,263 2,046,655 2,253,014

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

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

Gross Profit 1,576,656 2,974,211 3,084,587 2,154,251
Expenses (Income) 433,900 655,876 1,024,783 1,380,332
Operating Profit 1,142,756 - - - 10,089 10,271
10,271
Growth (%)
8,176
7,297
Other Income (Expenses) -47,311 - - -
Income before Tax 1,227,359 2,318,335 2,059,804 773,919 6,080
4,486
Tax 246,153 539,351 496,454 165,572
Profit for the period 981,206 1,778,984 1,563,350 608,348
3,985
Growth (%) 81.31% -12.12% -61.09%

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

1,053
DER(X) 0.40 0.31 0.26 0.22

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

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

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

COMPANY REPORT
ICBP
INDOFOOD CBP SUKSES MAKMUR TBK.
Company Profile
PT Indofood CBP Sukses Makmur Tbk. was established in the Republic of Indonesia on
September2nd,2009.

The Company was the result of the spinoff of the Noodle Division and Food Ingredients
DivisionofPTIndofoodSuksesMakmurTbk.,thecontrollingshareholderoftheCompany,
andstartedtocarryouttherelatedbusinessoperationsonOctober1st,2009.

The Companys head office is located in Jakarta, while the Company and its Subsidiaries
factories are located in various locations in Java, Sumatera, Kalimantan, Sulawesi Islands
andMalaysia.

Thescopeofitsactivitiescomprises,amongothers,themanufactureofnoodlesandfood
ingredients,culinaryfoodproducts,biscuits,snacks,nutritionandspecialfoods,packaging,
trading,transportation,warehousingandcoldstorage,managementservices,andresearch
anddevelopment.

TheCompanyisanestablishedmarketleadingproducerofpackagedfoodproductswitha
diverse range of products providing everyday food solutions for consumers of all ages.
ManyofitsproductsbrandsareamongthestrongestbrandswithsignificantTopofMind
status in Indonesia and have gained the trust and loyalty of millions of consumers in
Indonesiafordecades.

TheCompanyhasdirectshareownershipsinthefollowingsubsidiaries:
DraytonPte.Ltd.,
Indofood(M)FoodIndustriesSdn.Bhd.,
PTSuryaRengoContainers,
PTIndofoodFritolayMakmur,
PTIndofoodAsahiSuksesBeverage,
PTIndofoodTsukishimaSuksesMakmur.

ThelongterminvestmentintheassociatedentityisPTNestleIndofoodCitarasaIndonesia
and PT Asahi Indofood Beverage Makmur. As of December 31st, 2013, the Group had
27,831employees.
January 2014
Disclaimer:

ICBP Indofood CBP Sukses Makmur Tbk. [S]
Industry Sub Sector : Food And Beverages (51) Market Capitalization : 64,140,494,000,000
16 | 64.1T | 1.48% | 54.37%
26 | 9.32T | 0.84% | 58.67%

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
Plaza Central Building 2nd Fl. ISSUED HISTORY
Jln. Jend. Sudirman Kav. 47 - 48 Jakarta 12930 Listing Trading
Phone : (021) 252-5666 No. Type of Listing Shares Date Date
Fax : (021) 252-5028 1. First Issue 1,166,191,000 07-Oct-10 07-Oct-10
2. Company Listing 4,664,763,000 07-Oct-10 07-Apr-11
BOARD OF COMMISSIONERS
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
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
84.9%
75% Feb-13 8,650 7,900 8,500 7,470 78,410 638,909 20
Mar-13 9,900 8,200 9,600 13,589 108,935 974,749 19
57.2% Apr-13 11,700 9,500 11,450 23,016 106,833 1,118,431 22
50%
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% 23.2% 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%

Volume (Million Sh.) 1,241 1,430 990 1,082 68
Value (Billion Rp) 6,661 7,278 6,084 11,297 735
Frequency (Thou. X) 50 84 73 217 32
Days 58 247 246 244 20
Price (Rupiah)
High 6,200 6,000 8,300 13,400 11,700
Low 4,400 3,800 4,975 7,600 9,900
Close 4,675 5,200 7,800 10,200 11,000
Close* 4,675 5,200 7,800 10,200 11,000
PER (X) 16.00 14.69 19.88 24.06 25.94

PER Industry (X) 16.41 16.22 19.75 19.15 23.95
PBV (X) 3.06 2.83 3.79 4.62 4.98

Cash & Cash Equivalents 3,407,687 4,420,644 5,484,318 5,526,173 22,500
Receivables 2,026,249 2,378,402 2,328,181 2,549,415

1,422,466 1,629,883 1,812,887 2,868,722 18,000
Inventories
Current Assets 7,017,835 8,580,311 9,888,440 11,321,715
13,500
Fixed Assets 2,304,588 2,590,036 3,839,756 4,844,407
Other Assets 136,855 169,718 - 888,529
9,000
Total Assets 13,361,313 15,222,857 17,753,480 21,267,470
Growth (%) 13.93% 16.62% 19.79% 4,500
Current Liabilities 2,701,200 2,988,540 3,579,487 4,696,583 -

Long Term Liabilities 1,297,932 1,524,544 2,187,195 3,305,156 2010 2011 2012 2013
Total Liabilities 3,999,132 4,513,084 5,766,682 8,001,739
Growth (%) 12.85% 27.78% 38.76%
Authorized Capital 750,000 750,000 750,000 750,000 13,266
Paid up Capital 583,095 583,095 583,095 583,095 11,987
Par Value 100 100 100 100
10,560
8,920
Retained Earnings 2,344,832 3,643,786 4,837,947 5,978,662
7,853
Total Equity 8,919,546 10,709,773 11,986,798 13,265,731

Growth (%) 20.07% 11.92% 10.67% 5,147
Total Revenues 17,960,120 19,367,155 21,574,792 25,094,681

Growth (%) 7.83% 11.40% 16.31%
-265
2010 2011 2012 2013
Cost of Revenues 12,993,217 14,335,896 15,796,183 18,668,990

Gross Profit 4,966,903 5,031,259 5,778,609 6,425,691
Expenses (Income) 2,322,011 2,423,258 -2,936,549 3,653,767
Operating Profit 2,644,892 2,608,001 2,842,060 2,771,924 25,095
25,095
Growth (%) -1.39% 8.97% -2.47% 21,575

19,367
19,975
17,960
Other Income (Expenses) -125,750 136,909 185,130 195,066
Income before Tax 2,519,142 2,744,910 3,027,190 2,966,990 14,856
Tax 666,913 678,545 -744,819 733,699

Profit for the period 1,827,909 2,066,365 2,282,371 2,235,040
9,737
Growth (%) 13.05% 10.45% -2.07%

4,617
Period Attributable 1,704,047 1,975,345 2,179,592 2,225,272 -502
Comprehensive Income 1,836,872 2,064,049 2,287,242 2,286,639 2010 2011 2012 2013
Comprehensive Attributable 1,710,197 1,973,683 2,183,205 2,260,929
Current Ratio (%) 259.80 287.11 276.25 241.06
2,282 2,235
Dividend (Rp) 116.00 169.00 - - 2,282
2,066
EPS (Rp) 292.24 338.77 373.80 381.63 1,828
BV (Rp) 1,529.69 1,836.71 2,055.72 2,275.05 1,817
DAR (X) 0.30 0.30 0.32 0.38

1,351
DER(X) 0.45 0.42 0.48 0.60

ROA (%) 13.68 13.57 12.86 10.51 886
ROE (%) 20.49 19.29 19.04 16.85

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

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

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

COMPANY REPORT
INDF
INDOFOOD SUKSES MAKMUR TBK.
Company Profile
Over a number of decades PT Indofood Sukses Makmur Tbk. (Indofood) has been progressively
transformed to become a Total Food Solutions company with operations in all stages of food
manufacturing from the production of raw materials and their processing through to consumer
productsinthemarket.Today,itisrenownedasawellestablishedcompanyandaleadingplayerin
eachcategoryofbusinessinwhichitoperates.Initsbusinessoperations,Indofoodcapitalizesonits
resilientbusinessmodelwithfourcomplementaryStrategicBusinessGroups(Goup),namely:
ConsumerBrandedProducts(CBP).ItsbusinessactivitiesareconductedbyPTIndofood
CBPSuksesMakmurTbk(ICBP),whichwaslistedontheIndonesiaStockExchange(IDX)
on7October2010.ICBPisoneoftheleadingpackagedfoodproducersinIndonesia,witha
wide range of packaged food products. ICBP product brands are among the strongest
brandswiththemostsignificantmindshareinIndonesiaforconsumerfoodbrands.
Bogasari,primarilyaproducerofwheatflouraswellaspasta.Itsbusinessoperationsare
supportedbyshippingandpackagingunits.
Agribusiness.TheGroupisledbyIndofoodAgriResourcesLtd.(IndoAgri),listedonthe
Singapore Stock Exchange. Both of IndoAgris subsidiaries, PT Salim Ivomas Pratama Tbk
(SIMP),andPTPerusahaanPerkebunanLondonSumatraIndonesiaTbk(Lonsum),are
listed on the IDX. The Groups principal business activities range from research and
development,seedbreeding,oilpalmcultivationandmilling;aswellastheproductionand
marketingofbrandedcookingoils,margarineandshortening.Inaddition,theGroupisalso
involvedinthecultivationandprocessingofrubberandsugarcaneaswellasothercrops.
Distribution, which boasts the most extensive distribution network in Indonesia. It
distributes the majority of Indofoods and its subsidiaries consumer products as well as
thirdpartyproducts.
AsofDecember31st,2013,theCompanyanditsSubsidiarieshadatotalof84,871employees.
January 2014
Disclaimer:

INDF Indofood Sukses Makmur Tbk. [S]
Industry Sub Sector : Food And Beverages (51) Market Capitalization : 61,243,474,837,500
17 | 61.2T | 1.41% | 55.78%
12 | 19.9T | 1.80% | 40.27%

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
BOARD OF DIRECTORS
1. Anthoni Salim ISSUED HISTORY
2. Axton Salim Listing Trading
3. Darmawan Sarsito (Kevin Sietho) No. Type of Listing Shares Date Date
4. Franciscus Welirang 1. First Issue 21,000,000 14-Jul-94 14-Jul-94
5. Joseph Bataona 2. Founders Shares 742,000,000 T: 14-Jul-94 : 08-Feb-95
6. Moleonoto (Paulus Moleonoto) 3. Stock Split 8,087,800,000 T: 12-Aug-96 : 29-Sep-00
7. Taufik Wiraatmadja 4. Right Issue 305,200,000 24-Apr-97 24-Apr-97
8. Tjhie Tje Fie (Thomas Tjhie) 5. Option Conversion 287,269,500 T: 07-May-02 : 12-Jun-03
9. Werianty Setiawan 6. Option III Conversion 919,500 T: 06-Feb-04 : 24-May-04
7. Buy Back -663,762,500 28-Oct-08 28-Oct-08
AUDIT COMMITTEE
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
245%
Jan-12 4,975 4,600 4,800 25,256 255,981 1,232,987 21
210% 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% 179.5% 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%
Sep-12 5,650 5,300 5,650 19,243 239,535 1,304,306 20
89.8%
Oct-12 6,200 5,550 5,700 18,532 354,341 2,056,934 22
70% 71.6%
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 20 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 7,350
Low 3,300 4,150 4,400 5,350 6,550
Close 4,875 4,600 5,850 6,600 6,975
Close* 4,875 4,600 5,850 6,600 6,975
PER (X) 14.50 8.05 10.54 22.61 23.90

PER Industry (X) 16.41 16.22 19.75 19.15 23.95
PBV (X) 2.55 1.28 1.50 1.50 1.59

Receivables 2,296,474 2,686,273 3,669,305 3,485,461 4,959,416

5,117,484 5,644,141 6,536,343 7,782,594 8,160,539 70,000
Inventories
Current Assets 12,954,813 20,077,994 24,501,734 26,202,972 32,464,497
52,500
Fixed Assets 10,808,449 11,737,142 12,921,013 15,775,741 23,027,913
Other Assets 2,044,473 1,133,994 1,216,694 - 2,748,446
35,000
Total Assets 40,382,953 47,275,955 53,585,933 59,324,207 78,092,789
Growth (%) 17.07% 13.35% 10.71% 31.64% 17,500

Growth (%) -9.90% -2.00% 14.59% 57.73%
Paid up Capital 878,043 878,043 878,043 878,043 878,043 38,373
34,143
Par Value 100 100 100 100 100

30,545

22,717
Total Equity 10,155,495 16,784,671 31,610,225 34,142,674 38,373,129 16,785

Growth (%) 65.28% 88.33% 8.01% 12.39% 14,889
10,155
Total Revenues 37,140,830 38,403,360 45,332,256 50,059,427 57,731,998

Growth (%) 3.40% 18.04% 10.43% 15.33%
-767
2009 2010 2011 2012 2013
Cost of Revenues 27,018,884 25,932,908 32,749,190 36,493,332 43,402,144

Gross Profit 10,121,946 12,470,452 12,583,066 13,566,095 14,329,854
Expenses (Income) 5,117,737 5,741,141 5,732,047 -6,695,501 7,611,873
57,732
Growth (%) 34.47% 1.81% 0.29% -2.22% 50,059

45,332
45,955
37,141 38,403
Other Income (Expenses) -940,396 -1,296,936 -498,630 -560,838 -2,051,023
Tax 1,207,032 1,497,567 1,460,716 -1,530,310 1,252,072

22,400
Growth (%) 37.74% 24.32% -2.29% -28.51%

10,623
Comprehensive Attributable 1,946,495 3,029,667 3,203,898 3,346,600 4,011,240
Current Ratio (%) 116.09 203.65 190.95 200.32 166.73
4,892 4,779
Dividend (Rp) 93.00 133.00 175.00 185.00 - 4,892
EPS (Rp) 236.42 336.30 350.46 371.41 285.16 3,935

BV (Rp) 1,156.61 1,911.60 3,600.08 3,888.50 4,370.30 3,894
3,417
DAR (X) 0.62 0.47 0.41 0.42 0.51 2,857

2,896
DER(X) 2.45 1.34 0.70 0.74 1.04

ROA (%) 7.07 8.32 9.13 8.06 4.38 1,898
ROE (%) 28.13 23.44 15.47 14.00 8.90

GPM (%) 27.25 32.47 27.76 27.10 24.82 900
OPM (%) 13.47 17.52 15.11 13.72 11.64

NPM (%) 7.69 10.25 10.79 9.55 5.92
-98
2009 2010 2011 2012 2013

Payout Ratio (%) 39.34 39.55 49.93 49.81 -
Yield (%) 2.62 2.73 3.80 3.16 -

C
COOM
MPPA
ANNY
Y R
REEP
POOR
R TT
INTP
INDOCEMENT TUNGGAL PRAKARSA TBK.
Company Profile
PT Indocement Tunggal Prakarsa Tbk. was incorporated on January 16th, 1985. The
Companystarteditscommercialoperationsin1985.

The scope of its activities comprises, among others, cement and building materials
manufacturing,mining,constructionandtrading.Currently,theCompanyandSubsidiaries
are involved in several businesses consisting of the manufacture and sale of cement (as
corebusiness)andreadymixconcrete,aggregatesandtrassquarrying.

TheCompanysheadofficeislocatedinJakartawhilethefactoriesarelocatedinCiteureup
WestJava,PalimananWestJava,andTarjunSouthKalimantan.

ThecementbusinessincludestheoperationsoftheCompanystwelve(12)plantslocated
inthreedifferentsites:nineattheCiteureupBogorsite,twoatthePalimananCirebon
siteandoneattheTarjunSouthKalimantansite.Themanufactureofreadymixconcrete,
cement distribution, and aggregates quarrying comprise the operations of most of the
CompanysSubsidiaries.

TheCompanyhasdirectownershipinsubsidiaries:
PTDianAbadiPerkasa,
PTGunungTuaMandiri,
PTIndomixPerkasa,
PTSariBhaktiSejati,
Indocement(CaymanIslands)Limited,and
PTLenteraAbadiSejahtera.

TheCompanyalsohasindirectownershipinsubsidiaries:
PTPionirbetonIndustri,
PTMandiriSejahteraSentra,
PTBahanaIndonor,
PTSahabatMuliaSakti,
PTMineralIndustriSukabumi,
PTMultiBangunGalaxy,and
PTBhaktiSariPerkasaAbadi.

As of December 31st, 2013, the Group had a total of 7,585 permanent employees
(unaudited).

January 2014
Disclaimer:

INTP Indocement Tunggal Prakarsa Tbk. [S]
Industry Sub Sector : Cement (31) Market Capitalization : 82,459,590,057,600
10 | 82.5T | 1.90% | 44.45%
16 | 17.4T | 1.57% | 46.93%

Established Date : 16-Jan-1985 1. Birchwood Omnia Limited 1,877,480,863 : 51.00%
Listing Date : 05-Dec-1989 2. PT Mekar Perkasa 479,735,234 : 13.03%
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 1994 1:1 12-Aug-94 15-Aug-94 23-Aug-94 23-Sep-94
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 1997 10 : 3 08-Sep-97 09-Sep-97 17-Sep-97 30-Sep-97 F
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
*) Independent Commissioners 2010 263.00 17-Jun-11 20-Jun-11 22-Jun-11 07-Jul-11 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. Daniel Eugene Antoine Lavalle
2. Benny Setiawan Santoso ISSUED HISTORY
3. Christian Kartawijaya Listing Trading
4. Daniel Robert Fritz No. Type of Listing Shares Date Date
5. Daniel Kundjono Adam 1. First Issue 89,832,150 05-Dec-89 05-Dec-89
6. Fransiscus Welirang 2. Koperasi 6,000,000 T: 26-Jun-92 : 31-Dec-99
7. Hasan Imer 3. Founders Shares 946,119 T: 07-Mar-94 : 02-Sep-94
8. Kuky Permana Kumalaputra 4. Convertible Bonds 8,555,640 T: 07-Mar-94 : 10-Nov-94
9. Ramakanta Bhattacharjee 5. Bonus Shares 599,790,020 T: 12-Sep-94 : 26-Sep-94
10. Tju Lie Sukanto 6. Company Listing 502,102,731 12-Sep-94 12-Sep-94
7. Stock Split 1,207,226,660 02-Sep-96 02-Sep-96
AUDIT COMMITTEE 8. Additional Listing 69,863,127 09-Jan-01 09-Jan-01
1. I Nyoman Tjager 9. Right Issue 1,196,907,072 24-Apr-01 24-Apr-01
2. Jusuf Halim 10. Warrant 8,180 12-May-03 12-May-03
3. Lindawati Gani
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
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% Apr-12 18,800 17,850 18,050 13,941 70,686 1,294,326 20
May-12 18,900 16,800 17,800 17,881 68,984 1,223,049 21
86.2%
80% Jun-12 17,600 15,800 17,350 16,882 71,934 1,226,581 21
71.6% Jul-12 22,000 17,400 21,500 18,249 87,400 1,660,463 22
61.7% 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 64 Sep-13 21,900 18,000 18,000 32,816 92,486 1,815,659 21
Days 245 247 246 244 20 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 22,500
Low 12,600 10,700 15,800 16,500 19,825
Close 15,950 17,050 22,450 20,000 22,400
Close* 15,950 17,050 22,450 20,000 22,400
PER (X) 18.21 17.43 17.35 15.30 17.14

PER Industry (X) 12.86 10.41 9.79 17.44 13.29
PBV (X) 4.49 3.99 4.26 3.41 3.82

Receivables 1,361,164 1,402,690 1,976,769 2,454,818 2,518,588

1,269,425 1,299,549 1,327,720 1,470,305 1,473,645 22,000
Inventories
Current Assets 5,322,916 7,484,807 10,314,573 14,579,400 16,846,248
16,500
Fixed Assets 7,773,279 7,702,769 7,638,064 7,935,224 9,304,992
Other Assets 103,703 100,319 128,546 141,371 324,750
11,000
Total Assets 13,276,270 15,346,146 18,151,331 22,755,160 26,607,241
Growth (%) 15.59% 18.28% 25.36% 16.93% 5,500

Growth (%) -12.70% 7.65% 38.02% 8.79%
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
18,290
15,734
13,603
Total Equity 10,680,725 13,077,390 15,733,951 19,418,738 22,977,687 10,681
Growth (%) 22.44% 20.31% 23.42% 18.33% 8,915
Total Revenues 10,576,456 11,137,805 13,887,892 17,290,337 18,691,286

Growth (%) 5.31% 24.69% 24.50% 8.10%
-460
2009 2010 2011 2012 2013
Cost of Revenues 5,468,018 5,597,043 7,473,669 9,020,338 10,036,632

Gross Profit 5,108,439 5,540,762 6,414,223 8,269,999 8,654,654
Expenses (Income) 1,415,133 1,520,732 1,996,200 2,393,257 2,590,554
18,691
17,290
Growth (%) 8.85% 9.90% 33.02% 3.19%
14,878
13,888
Other Income (Expenses) 92,366 221,812 290,133 362,808 531,054 11,138
10,576
Tax 1,047,741 1,023,795 1,106,640 1,476,162 1,582,860

7,252
Growth (%) 17.32% 11.69% 32.26% 5.23%

3,439
Current Ratio (%) 300.55 555.37 698.54 602.76 614.81
5,012
Dividend (Rp) 225.00 263.00 293.00 450.00 - 5,012
4,763
EPS (Rp) 746.65 876.05 977.10 1,293.15 1,361.02

2,901.40 3,552.45 4,274.10 5,275.07 6,241.85 3,602
BV (Rp)
3,990
3,225
DAR (X) 0.19 0.15 0.13 0.15 0.14 2,749
2,967
DER(X) 0.24 0.17 0.15 0.17 0.16

ROA (%) 20.70 21.01 19.84 20.93 18.84 1,945
ROE (%) 25.73 24.66 22.89 24.53 21.81

GPM (%) 48.30 49.75 46.19 47.83 46.30 922
OPM (%) 34.92 36.09 31.81 33.99 32.44

NPM (%) 25.99 28.95 25.93 27.55 26.82
-100
2009 2010 2011 2012 2013

Payout Ratio (%) 30.13 30.02 29.99 34.80 -
Yield (%) 1.64 1.65 1.72 2.00 -

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

supplierfortheworldenergymarket.Thecompanystrivestosetthehigheststandardin
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
producerofcoalandhasbuiltadiversifiedcustomerbase.

The scope of the Company business includes coal mining operations, processing and
logistics which are integrated in Indonesia. The company owns the majority of shares in
seven subsidiaries and operates six mining concessions in the island of Kalimantan,
covering East, Central and South Kalimantan. The Company also owns and operates
Terminal Batubara Bontang (Bontang Coal Terminal/BoCT), three loading ports and
PembangkitListrikBontang[BontangElectricityGenerator].

TheCompanyhasdirectandindirectownershipinthefollowingsubsidiaries:
PTIndomincoMandiri,
PTTrubaindoCoalMining,
PTJorongBarutamaGreston,
Kitadin,
PTBharintoEkatama,
PTITMIndonesia,and
PTTambangRayaUsahaTama.
January 2014
Disclaimer:

ITMG Indo Tambangraya Megah Tbk. [S]
28 | 30.3T | 0.70% | 64.54%
28 | 8.86T | 0.80% | 60.28%

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
Wisma Sudirman - Puri Datindo 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 2011 1,168.00 28-Sep-11 29-Sep-11 03-Oct-11 14-Oct-11 I
5. Somruedee Chaimongkol 2012 1,666.00 29-Oct-12 30-Oct-12 01-Nov-12 14-Nov-12 I
6. Somyot Ruchirawat 2012 USD 1.464 26-Apr-13 29-Apr-13 01-May-13 15-May-13 F
*) Independent Commissioners 2013 1,014.00 29-Oct-13 30-Oct-13 01-Nov-13 15-Nov-13 I
2013 975.00 28-Apr-14 29-Apr-14 02-May-14 14-May-14 F
BOARD OF DIRECTORS
1. Pongsak Thongampai ISSUED HISTORY
2. A.H. Bramantya Putra Listing Trading
3. Edward Manurung (not affiliated) No. Type of Listing Shares Date Date
4. Hartono Widjaja 1. First Issue 225,985,000 18-Dec-07 18-Dec-07
5. Leksono Poeranto 2. Company Listing 903,940,000 18-Dec-07 18-Aug-08
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
125%
Jan-12 41,000 36,200 36,700 21,105 41,555 1,611,844 21
100% 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
71.6%
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
-16.4% Dec-12 42,350 38,100 41,550 10,232 17,955 725,896 18
-25%
-40.2% 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 30 Sep-13 32,950 25,350 26,300 15,702 22,893 691,567 21
Days 245 247 246 244 20 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 28,700
Low 28,100 34,300 30,150 24,200 24,850
Close 50,750 38,650 41,550 28,500 26,800
Close* 50,750 38,650 41,550 28,500 26,800
PER (X) 31.29 8.74 11.38 11.28 10.61

PER Industry (X) 17.69 16.17 8.49 19.30 13.24
PBV (X) 8.86 4.46 4.84 2.73 2.56

Receivables 1,354,003 1,359,610 2,321,598 2,439,567 2,383,251

612,466 633,245 970,013 1,459,919 1,483,112 14,000
Inventories
Current Assets 6,348,447 5,459,998 9,670,360 9,369,534 9,157,445
10,500
Fixed Assets 3,240,377 3,126,948 3,122,629 3,244,382 3,884,351
Other Assets 28,327 20,174 13,031 20,626 133,277
7,000
Total Assets 11,306,120 9,783,380 14,313,602 14,420,136 17,081,558
Growth (%) -13.47% 46.31% 0.74% 18.46% 3,500

Growth (%) -14.64% 36.34% 4.74% 11.18%
Paid up Capital 564,963 564,963 564,963 564,963 1,500,000 11,827
1,130 1,130 1,130 1,130 3,000 9,801 9,693

Paid up Capital (Shares)
Par Value 500 500 500 500 500
9,414
7,428
7,001
Total Equity 7,428,355 6,473,353 9,800,731 9,693,372 11,826,501

Growth (%) -12.86% 51.40% -1.10% 22.01% 4,589
Total Revenues 14,228,350 14,977,028 21,598,843 23,584,559 26,733,422

Growth (%) 5.26% 44.21% 9.19% 13.35%
-237
2009 2010 2011 2012 2013
Cost of Revenues 8,847,730 10,114,588 13,509,570 16,417,475 20,485,612

Gross Profit 5,380,621 4,862,440 8,089,273 7,167,085 6,247,810
Expenses (Income) 1,269,578 1,604,252 1,678,967 1,451,061 2,309,778
26,733
Growth (%) -20.75% 96.74% 23,585

21,599
21,280
Other Income (Expenses) 194,886 -768,104 208,773 - -

14,228 14,977
Tax 1,140,676 657,217 1,666,807 1,538,168 1,109,993

10,373
Growth (%) -42.09% 170.19% -15.64% -32.31%

4,919
Comprehensive Income - 1,697,928 4,999,225 4,125,029 2,828,039 2009 2010 2011 2012 2013
Current Ratio (%) 197.79 183.44 236.59 221.71 199.19
4,952
Dividend (Rp) 1,964.00 1,202.00 2,336.00 1,666.00 1,989.00 4,952
4,178
EPS (Rp) 2,801.29 1,622.11 4,382.83 3,697.46 942.68
BV (Rp) 6,574.20 5,729.01 8,673.79 8,578.78 3,942.17 3,942
3,165
DAR (X) 0.34 0.34 0.32 0.33 0.31 2,828
2,932
DER(X) 0.52 0.51 0.46 0.49 0.44

28.00 18.73 34.60 28.97 16.56 1,833
ROA (%) 1,921
ROE (%) 42.61 28.31 50.53 43.10 23.91

GPM (%) 37.82 32.47 37.45 30.39 23.37 911
OPM (%) 28.89 21.75 29.68 - -

NPM (%) 22.25 12.24 22.93 17.71 10.58
-99
2009 2010 2011 2012 2013

Payout Ratio (%) 70.11 74.10 53.30 45.06 210.99
Yield (%) 6.18 2.37 6.04 4.01 6.98

C
COOM
MPPA
ANNY
Y R
REEP
POOR
RTT
JSMR
JASA MARGA (PERSERO) TBK.
Company Profile
PT Jasa Marga (Persero) Tbk. was established dated September 10th, 1982, under the
framework of Government Regulation regarding the State Capital Investment for the
establishment of a StateOwned Company (Persero) in the area of management,
maintenance and development of toll roads and the detailed management regulations.
TheCompanycommenceditscommercialoperationsin1978.

Jasa Marga is a state owned company with the line business of planning, constructing,
operatingandmaintainingtollroadsalongwithdevelopingandmaximizingtheuseofland
in toll road areas and other related businesses. Jasa Margas business characteristics are
defensiveandresistanttofluctuatedconditionofglobaleconomy.

Forthesepurposes,theCompanyperformsthefollowingactivities:
1. Performtechnicalplanning,construction,operateand/ormaintenanceoftollroad;
2. Organizethelandintollroadarea(Rumijatol)andthelandtoborderonRumijatolfor
restareaandserviceincludingfacilitiesandotherbusinessoperatedeitherseparately
orincooperationwithotherparties;and

In additionto the main business activity, Company may run other supporting business
activities,subjecttolawsandregulations,involve:
1. PropertyDevelopmentintheareaoftollroadcorridor.
2. Development service for business related to transportation facilities,
liquid/solid/gasmaterialdistribution,networkofinformation,communicationand
technology,relatedtotollroadcorridor.
3. Tradeandserviceforconstruction,maintenanceandoperationoftollroad

TheCompanyisdomiciledinJakartaandiscurrentlyoperating25tollroadsmanagedbyits
9branchofficesandtheCompanysSubsidiaries.AsofDecember31st,2013theCompany
hadtotalpermanentemployeesof4,875persons.
January 2014
Disclaimer:

JSMR Jasa Marga (Persero) Tbk. [S]
Industry Sub Sector : Toll Road, Airport, Harbor And Allied Products (72) Market Capitalization : 35,190,000,000,000
21 | 35.2T | 0.81% | 59.38%
22 | 11.8T | 1.07% | 54.84%

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
Wisma Sudirman - Puri Datindo 2009 87.91 28-Jun-10 29-Jun-10 01-Jul-10 15-Jul-10 F
Phone : (021) 570-9009 2011 78.88 04-Jun-12 05-Jun-12 07-Jun-12 21-Jun-12 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 09-Apr-14 23-Apr-14 F
1. Agoes Widjanarko ISSUED HISTORY
2. Akhmad Syakhroza Listing Trading
3. Boediarso Teguh Widodo No. Type of Listing Shares Date Date
4. Ibnu Purna Muchtar 1. First Issue 2,040,000,000 12-Nov-07 12-Nov-07
5. Michael Dendron Primanto *) 2. Negara RI (Seri A) 1 12-Nov-07 12-Nov-07
6. Samsoedin *) 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
280%
Jan-12 4,575 4,125 4,375 12,368 230,785 993,508 21
240% 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
179.7% 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
Oct-12 5,950 5,650 5,800 12,435 173,137 999,567 22
80%
71.6% Nov-12 5,850 5,650 5,700 9,709 152,420 876,690 20
Dec-12 5,850 5,450 5,450 9,539 159,861 908,441 18
40%
32.1%
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 20 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 5,450
Low 1,660 2,925 4,125 4,525 4,400
Close 3,425 4,200 5,450 4,725 5,175
Close* 3,425 4,200 5,450 4,725 5,175
PER (X) 19.51 21.61 24.12 23.55 25.80

PER Industry (X) 14.36 11.09 17.53 18.40 18.52
PBV (X) 3.01 3.09 3.79 3.09 3.39

Receivables 64,672 23,630 87,994 64,092 177,198

- - - - - 23,000
Inventories
Current Assets 3,430,338 4,090,141 3,996,741 4,531,117 3,746,345
17,250
Fixed Assets 9,863,302 13,694,508 15,945,902 422,507 593,028
Other Assets 392,755 259,058 440,239 289,155 130,965
11,500
Total Assets 16,174,264 18,952,129 21,432,134 24,753,551 28,366,345
Growth (%) 17.17% 13.09% 15.50% 14.60% 5,750

Growth (%) 25.67% 15.10% 22.75% 16.93%
Paid up Capital 3,400,000 3,400,000 3,400,000 3,400,000 3,400,000 9,788
9,240
500 500 500 500 500 7,740
Par Value
8,650
7,183
6,433
Total Equity 7,183,379 7,740,014 9,240,280 9,787,786 10,866,980

Growth (%) 7.75% 19.38% 5.93% 11.03% 4,216
Total Revenues 3,692,000 4,378,584 4,960,473 9,070,219 10,294,668

Growth (%) 18.60% 13.29% 82.85% 13.50%
-217
2009 2010 2011 2012 2013
Cost of Revenues 2,175,779 2,390,392 2,679,084 6,094,983 7,631,490

Gross Profit 1,516,221 1,988,192 2,281,388 2,975,236 2,663,177
Expenses (Income) 2,175,779 2,390,392 2,679,084 6,094,983 -
10,295
Growth (%) 31.13% 14.75% 30.41% -10.49% 9,070
8,195

4,960
211,682 291,854 407,651 519,445 476,835 4,379
Tax 3,692
Profit for the period 882,212 1,184,496 1,318,824 1,535,812 1,237,821
3,994
Growth (%) 34.26% 11.34% 16.45% -19.40%

1,894
Period Attributable 882,212 1,193,487 1,339,462 1,602,090 1,336,317 -206
Comprehensive Income 992,694 1,186,036 1,321,582 1,536,346 1,236,627 2009 2010 2011 2012 2013
Current Ratio (%) 115.64 165.04 106.05 68.16 76.15
1,536
Dividend (Rp) 87.91 105.69 78.88 94.24 78.61
1,319
EPS (Rp) 129.74 175.51 196.98 235.60 196.52 1,184
1,238
BV (Rp) 1,056.38 1,138.24 1,358.86 1,439.38 1,598.09 1,223
DAR (X) 0.52 0.56 0.57 0.60 0.62 882

909
DER(X) 1.17 1.37 1.32 1.53 1.61

ROA (%) 5.45 6.25 6.15 6.20 4.36 596
ROE (%) 12.28 15.30 14.27 15.69 11.39

GPM (%) 41.07 45.41 45.99 32.80 25.87 283
OPM (%) 41.07 45.41 45.99 32.80 25.87

NPM (%) 23.90 27.05 26.59 16.93 12.02
-31
2009 2010 2011 2012 2013

Payout Ratio (%) 67.76 60.22 40.04 40.00 40.00
Yield (%) 4.86 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.
Kalbe has focused its business on four divisions: prescription pharmaceuticals, consumer
health products, nutritionals, and distribution and logistics. Supported by over 15,000
employees, inclusive of 4,000 sales and marketing professionals covering the entire
Indonesian archipelago, Kalbe maintains coverage of more than 70% of general
practitioners, 90% of specialists, 100% of hospitals, 100% of pharmacies across Indonesia
for the prescription pharmaceuticals market and 80% for the consumer health and
nutritionals markets.
The Companys production plants is located at Kawasan Industri Delta Silicon, Jln. M.H.
Thamrin, Block A3-1, Lippo Cikarang, Bekasi.
As of December 31st 2013, the Group had a combined total of 10,572 permanent
employees.
January 2014
Disclaimer:

KLBF Kalbe Farma Tbk. [S]
Industry Sub Sector : Pharmaceuticals (53) Market Capitalization : 65,859,546,564,550
15 | 65.9T | 1.52% | 52.89%
13 | 19.4T | 1.75% | 42.02%

Established Date : 10-Sep-1966 1. PT Gira Sole Prima 4,767,872,885 : 10.17%
Listing Date : 30-Jul-1991 2. PT Santa Seha Sanadi 4,545,646,840 : 9.70%
Under Writer IPO : 3. PT Diptanala Bahana 4,447,970,440 : 9.94%
PT Merincorp 4. Lucasta Murni Cemerlang 4,439,895,440 : 9.47%
PT Niaga Securities 5. PT Ladang Ira Panen 4,319,452,940 : 9.21%
Securities Administration Bureau : 6. PT Bina Arta Charisma 4,060,816,540 : 8.66%
PT Adimitra Transferindo 7. Public (<5%) 20,293,467,025 : 42.85%
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 1992 1: 1 20-Oct-92 21-Oct-92 28-Oct-92 16-Nov-92
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 1994 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. Wahjudi Prakarsa *) 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. Herman Widjaja 2005 3.00 05-Jul-05 06-Jul-05 08-Jul-05 22-Jul-05
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. Farid A. Moeloek 2010 70.00 27-Jun-11 28-Jun-11 01-Jul-11 13-Jul-11 F
2. Dianawati Sugiarto 2011 95.00 28-Jun-12 29-Jun-12 03-Jul-12 17-Jul-12 F
3. Ichsan Gunawan 2012 19.00 13-Jun-13 14-Jun-13 18-Jun-13 02-Jul-13 F
CORPORATE SECRETARY ISSUED HISTORY

Vidjongtius Listing Trading
HEAD OFFICE 1. First Issue 10,000,000 30-Jul-91 30-Jul-91
Gedung Kalbe 3rd Fl. 2. Partial Listing 10,000,000 T: 30-Jul-91 : 30-Jan-92
Jln. Let. Jend. Suprapto Kav. 4, Cempaka Putih 3. Koperasi 500,000 T: 27-Feb-92 : 31-Dec-99
Jakarta - 10510 4. Company Listing 29,500,000 29-Apr-92 29-Apr-92
Phone : (021) 428-73688, 894-243908 5. Bonus Shares 2,026,400,000 T: 17-Nov-92 : 06-Dec-00
Fax : (021) 428-73678 6. Right Issue 8,000,000 T: 14-May-93 : 25-Jun-93
7. Dividen Shares 32,400,000 18-Jul-94 18-Jul-94
Homepage : www.kalbe.co.id 8. Stock Split 6,004,800,000 T: 07-Oct-96 : 02-Jan-04
Email : vidjongtius@kalbe.co.id 9. Additional Listing (Merger) 2,034,414,422 21-Dec-05 21-Dec-05
info@kalbe.co.id 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
1,600 320 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
1,400 280 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
1,200 240
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
1,000 200
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
800 160
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
600 120 Dec-10 3,825 2,975 3,250 29,162 709,139 2,415,538 20
400 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
200 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
490%
Jan-12 3,650 3,375 3,525 15,399 122,271 428,028 21
420% 432.2%
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
350% 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
280% 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
210%
Sep-12 4,700 3,900 4,700 33,617 272,454 1,158,254 20
179.5%
Oct-12 4,975 910 970 54,533 779,898 998,575 22
140%
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
70% 71.6%
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
-70% 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
Volume (Million Sh.) 9,232 3,434 6,640 19,997 1,482 Sep-13 1,440 1,180 1,180 92,703 1,885,390 2,494,405 21
Value (Billion Rp) 20,453 11,391 14,832 25,755 2,037 Oct-13 1,390 1,220 1,300 82,161 1,732,152 2,302,731 21
Days 245 247 246 244 20 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 1,455
Low 1,290 2,450 910 1,000 1,260
Close 3,250 3,400 1,060 1,250 1,405
Close* 650 680 1,060 1,250 1,405
PER (X) 25.66 22.43 30.38 32.17 36.16

PER Industry (X) 16.41 16.22 19.75 19.15 23.95
PBV (X) 6.14 5.30 7.30 7.40 8.31

Receivables 1,318,080 1,363,957 1,635,311 1,938,156 2,273,379

1,561,382 1,550,829 1,705,189 2,115,484 3,053,495 10,000
Inventories
Current Assets 4,701,893 5,037,270 5,956,123 6,441,711 7,497,319
7,500
Fixed Assets 1,398,128 1,605,266 1,860,288 2,254,763 2,925,547
Other Assets 26,101 47,115 286,899 - 357,861
5,000
Total Assets 6,482,447 7,032,497 8,274,554 9,417,957 11,315,061
Growth (%) 8.49% 17.66% 13.82% 20.14% 2,500
Current Liabilities 1,574,137 1,146,489 1,630,589 1,891,618 264,059 -

Total Liabilities 1,691,775 1,260,580 1,758,619 2,046,314 438,572
Growth (%) -25.49% 39.51% 16.36% -78.57%
Authorized Capital 850,000 850,000 850,000 1,700,000 850,000 8,500
Paid up Capital 507,801 507,801 507,801 507,801 507,801 8,500
7,372
Par Value 50 50 50 50&10 10
6,766
5,374
5,032
4,310
Total Equity 4,310,438 5,373,784 6,515,935 7,371,644 8,499,958
Growth (%) 24.67% 21.25% 13.13% 15.31% 3,298
Total Revenues 9,087,348 10,226,789 10,911,860 13,636,405 16,002,131

Growth (%) 12.54% 6.70% 24.97% 17.35%
-170
2009 2010 2011 2012 2013
Cost of Revenues 4,575,407 5,060,404 5,360,687 7,102,971 8,323,018

Gross Profit 4,511,940 5,166,386 5,551,173 6,533,434 7,679,113
Expenses (Income) 2,946,066 3,375,482 3,563,914 4,225,417 5,106,591
16,002
Growth (%) 14.37% 10.96% 13,636

12,738
10,912
Other Income (Expenses) -94,803 -20,469 - - - 10,227
9,087
Tax 421,405 426,636 464,303 532,918 602,070

6,209
Growth (%) 28.02% 13.33% 16.56% 11.01%

2,944
Comprehensive Income 929,004 1,346,098 1,539,721 1,772,035 2,004,244 2009 2010 2011 2012 2013
Current Ratio (%) 298.70 439.36 365.27 340.54 2,839.26
1,970
Dividend (Rp) 25.00 70.00 95.00 19.00 - 1,970
1,775
EPS (Rp) 103.35 124.69 145.95 28.45 37.80 1,523
BV (Rp) 424.42 529.12 641.58 120.97 167.39 1,568
1,344
DAR (X) 0.26 0.18 0.21 0.22 0.04
1,167
1,050
DER(X) 0.39 0.23 0.27 0.28 0.05
ROA (%) 16.19 19.11 18.41 18.85 17.41 765
ROE (%) 24.35 25.01 23.37 24.08 23.18

GPM (%) 49.65 50.52 50.87 47.91 47.99 363
OPM (%) 17.23 17.51 18.21 - -

NPM (%) 11.55 13.14 13.96 13.02 12.31
-39
2009 2010 2011 2012 2013

Payout Ratio (%) 24.19 56.14 65.09 66.77 -
Yield (%) 1.92 2.15 2.79 1.79 -

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 Companys 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 December 31st, 2013, the Company and subsidiaries had 6,168 employees.
January 2014
Disclaimer:

LPKR Lippo Karawaci Tbk. [S]
39 | 21.9T | 0.50% | 70.83%
11 | 22.7T | 2.06% | 38.47%

Established Date : 15-Oct-1990 1. Pacific Asia Holding Ltd 4,126,619,908 : 17.88%
Listing Date : 28-Jun-1996 2. Public (<5%) 18,951,069,711 : 82.12%
Under Writer IPO :
PT Pentasena Arthasentosa DIVIDEND ANNOUNCEMENT
F/I
PT Sharestar Indonesia Year Shares Dividend Cum Date Ex Date Date Date
Beritasatu Plasa 7th Fl. 1995 40.00 05-Dec-96 06-Dec-96 16-Dec-96 14-Jan-97 F
Jln. Jend. Gatot Subroto Kav. 35 - 36 Jakarta 12950 1997 10.00 13-Jan-98 14-Jan-98 22-Jan-98 20-Feb-98 F
Phone : (021) 527-7966 2005 10.00 19-Aug-05 22-Aug-05 24-Aug-05 08-Sep-05
Fax : (021) 527-7967 2005 9.99 01-Dec-06 04-Dec-06 06-Dec-06 20-Dec-06 F
2006 4.62 04-Dec-07 05-Dec-07 07-Dec-07 27-Dec-07 F
BOARD OF COMMISSIONERS 2010 2.88 11-Nov-10 12-Nov-10 16-Nov-10 01-Dec-10 I
1. Theo L. Sambuaga 2010 4.33 05-Oct-11 06-Oct-11 10-Oct-11 24-Oct-11 F
2. Agum Gumelar *) 2011 7.79 27-Aug-12 28-Aug-12 30-Aug-12 13-Sep-12 F
3. Farid Harianto *) 2012 11.85 29-Nov-13 02-Dec-13 04-Dec-13 18-Dec-13 F
4. Jonathan Limbong Parapak *)
5. Muladi *) ISSUED HISTORY
6. Surjadi Soedirdja *) Listing Trading
7. Tanri Abeng *) No. Type of Listing Shares Date Date
8. Viven Gouw Setiabudi 1. First Issue 30,800,000 28-Jun-96 28-Jun-96
*) Independent Commissioners 2. Company Listing 244,000,000 T: 28-Jun-96 : 28-Feb-97
3. Convertible Bond 105,072,500 28-Jun-96 28-Jun-96
BOARD OF DIRECTORS 4. Right Issue 5,815,239,737 T: 16-Jan-98 : 30-Dec-10
1. Ketut Budi Wijaya 5. Add Listing (Merger) 1,063,275,250 02-Aug-04 02-Aug-04
2. Djoko Harjono 6. Warrant 279,099 T: 28-Jul-05 : 17-May-06
3. Jenny Kuistono 7. Stock Split 13,314,419,679 T: 28-Jul-06 : 26-Dec-07
4. Rahmawaty 8. Warrant I 1,054,603,354 T: 23-Nov-06 : 05-Dec-07
5. Roberto Fernandez Feliciano 9. Additional Listing without RI 1,450,000,000 08-Jun-11 08-Jun-11
6. Tjokro Libianto
AUDIT COMMITTEE
1. Farid Harianto
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
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
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
149.6% Aug-12 1,010 830 870 14,052 1,025,678 946,477 19
135%
Sep-12 990 870 990 10,666 710,159 659,702 20
Oct-12 990 900 930 11,956 750,374 715,666 22
90% 95.9%
Nov-12 1,090 910 1,070 22,082 1,517,269 1,484,768 20
71.6%
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 Jan-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 2,156 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 2,025 Oct-13 1,190 990 1,130 68,222 2,516,548 2,710,895 21
Frequency (Thou. X) 352 250 153 548 37 Nov-13 1,150 860 910 41,217 2,116,780 2,026,117 20
Days 245 247 246 244 20 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 1,000
Low 345 500 650 850 855
Close 680 660 1,000 910 950
Close* 680 660 1,000 910 950
PER (X) 27.99 26.26 9.30 17.25 18.01

PER Industry (X) 9.97 11.09 17.34 17.79 16.27
PBV (X) 1.91 1.62 2.01 1.52 1.59

Receivables 6,492,548 812,686 923,556 605,801 781,409

230,806 7,068,539 7,892,171 10,504,910 13,894,009 26,000
Inventories
Investment 498,496 1,052,210 2,963,651 85,784 130,431
19,500
Fixed Assets 1,245,661 1,206,375 210,276 2,222,377 2,810,892
Other Assets 197,543 269,536 419,508 - 60,968
13,000
Total Assets 12,127,644 16,155,385 18,259,171 24,869,296 31,300,362
Growth (%) 33.21% 13.02% 36.20% 25.86% 6,500
Bank Payable - - 70,825 59,680 -

Trade Payable 294,507 275,531 416,871 575,701 397,748 2009 2010 2011 2012 2013
Growth (%) 16.63% 10.96% 51.40% 27.79%
Paid up Capital 1,730,215 2,162,769 2,307,769 2,307,769 2,307,769 14,178
Par Value 100 100 100 100 100

11,285
9,409
8,393
Total Equity 4,887,241 7,709,908 9,409,018 11,470,106 14,177,573

Growth (%) 57.76% 22.04% 21.91% 23.60% 5,501
4,887
Total Revenues 2,565,101 3,125,313 4,189,580 6,160,214 6,666,214

Growth (%) 21.84% 34.05% 47.04% 8.21%
-284
2009 2010 2011 2012 2013
Cost of Revenues 1,378,533 1,601,542 2,293,260 3,339,267 3,619,572

Gross Profit 1,186,568 1,523,770 1,896,320 2,820,947 3,046,643
Operating Expenses 705,861 802,411 968,324 1,271,753 1,103,623
6,160
Growth (%) 50.06% 28.65% 66.94% 25.42%
6,666
5,306
Other Income (Expenses) 30,731 -8,262 56,814 27,895 -18,190 4,190

Income before Tax 526,658 719,254 984,810 1,577,088 1,924,830
3,125
3,946
Tax 90,173 124,733 170,716 254,241 332,339 2,565

Profit for the period 436,485 594,521 814,094 1,322,847 1,592,491
2,586
Growth (%) 36.21% 36.93% 62.49% 20.38%

1,227
Period Attributable 436,485 525,346 708,282 1,060,222 1,228,230 -133
Comprehensive Income 388,053 568,603 579,917 2,482,548 1,676,148 2009 2010 2011 2012 2013
Comprehensive Attributable - 499,428 474,105 2,219,923 1,311,887
Dividend (Rp) - 7.21 7.79 11.85 -
1,592
EPS (Rp) 25.23 24.29 30.69 45.94 53.22 1,592
BV (Rp) 282.46 356.48 407.71 497.02 614.34 1,323
DAR (X) 0.56 0.49 0.48 0.54 0.55 1,268
DER(X) 1.40 1.03 0.94 1.17 1.21

814
3.60 3.68 4.46 5.32 5.09
943
ROA (%)
595
ROE (%) 8.93 7.71 8.65 11.53 11.23
436
618
GPM (%) 46.26 48.76 45.26 45.79 45.70

OPM (%) 18.74 23.08 22.15 25.15 29.15 293
NPM (%) 17.02 19.02 19.43 21.47 23.89

Payout Ratio (%) - 29.68 25.38 25.79 -
-32
2009 2010 2011 2012 2013

Yield (%) - 1.06 1.18 1.19 -

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 110,579 hectares as of
December 31st, 2013. The main products are crude palm oil and rubber, and small
quantities of cocoa, tea and seeds.
The Company is domiciled in Jakarta while operational branch offices located in Medan,
Palembang, Makassar, Surabaya and Samarinda. The Companys registered office address
is at Prudential Tower 15th Fl., Jln. Jend. Sudirman Kav. 79, Jakarta.
Lonsums 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 companies and the ultimate parent companies of the Group.
The Company has direct and indirect ownership in

PT Multi Agro Kencana Prima,
Lonsum Singapore Pte. Ltd.,
PT Tani Musi Persada,
PT Sumatera Agri Sejahtera,
PT Tani Andalas Sejahtera,
Agri Investments Pte., Ltd., and
Sumatera Bioscience Pte. Ltd. Singapore.
January 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 : 11,291,839,862,075
68 | 11.3T | 0.26% | 80.68%
29 | 8.68T | 0.79% | 61.07%

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. 1997 10 : 14 23-Jul-97 24-Jul-97 01-Aug-97 25-Aug-97 F
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
5. Hendra Widjaja ISSUED HISTORY
6. Monang Silalahi *) Listing Trading
7. Tengku Alwin Aziz *) No. Type of Listing Shares Date Date
8. Werianty Setiawan 1. First Issue 38,800,000 05-Jul-96 05-Jul-96
*) Independent Commissioners 2. Company Listing 163,538,872 05-Jul-96 05-Jul-96
3. Bonus Shares 283,274,421 26-Aug-97 26-Aug-97
BOARD OF DIRECTORS 4. Additional Listing without RI 280,096,500 24-Jun-04 24-Jun-04
1. Benny Tjoeng 5. Mandatory Convertible Note Conversion 329,519,500 22-Sep-04 22-Sep-04
2. Joefly Joesoef Bahroeny 6. Mandatory Convertible Note Conversion 269,343,500 02-Nov-07 02-Nov-07
3. Mark Julian Wakeford 7. Stock Splits 5,458,291,172 25-Feb-11 25-Feb-11
4. Paulus Moleonoto
5. Sonny Lianto
6. Tio Eddy Hariyanto
7. 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.
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
125%
Jan-12 2,500 2,175 2,425 11,452 198,053 474,007 21
100% 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
71.6%
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
Aug-12 2,925 2,400 2,400 15,952 412,381 1,090,181 19
25%
Sep-12 2,600 2,325 2,450 16,586 456,401 1,129,082 20
8.5% Oct-12 2,450 2,250 2,325 14,768 375,878 876,755 22
-
-2.6% 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 Jan-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 1,055 Sep-13 1,670 1,260 1,270 42,086 794,744 1,163,598 21
Days 245 247 246 244 20 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 1,980
Low 7,300 1,710 1,830 960 1,470
Close 12,850 2,250 2,300 1,930 1,655
Close* 2,570 2,250 2,300 1,930 1,655
PER (X) 16.97 7.34 13.98 22.30 19.12

PER Industry (X) 0.14 1.79 33.17 20.59 20.99
PBV (X) 3.85 2.63 2.50 2.10 1.80

Cash & Cash Equivalents 682,249 1,160,688 2,063,982 1,799,137 1,401,395 8,750
Receivables 77,406 38,802 112,071 52,132 116,796

192,133 264,473 368,244 645,954 374,485 7,000
Inventories
Current Assets 964,362 1,487,257 2,567,657 2,593,816 1,999,126
5,250
Fixed Assets 1,603,497 1,728,694 1,824,630 2,229,928 2,776,825
Other Assets 81,949 93,111 87,691 61,331 63,000
3,500
Total Assets 4,852,277 5,561,433 6,791,859 7,551,796 7,974,876
Growth (%) 14.61% 22.12% 11.19% 5.60% 1,750
Current Liabilities 686,189 621,593 531,326 792,482 804,428 -

Total Liabilities 1,038,812 1,007,328 952,435 1,272,083 1,360,889
Growth (%) -3.03% -5.45% 33.56% 6.98%
6,280
Paid up Capital 682,286 682,286 682,286 682,286 682,286 6,614
5,839
Par Value 500 500 100 100 100 4,554
5,265

3,915
Total Equity 3,813,465 4,554,105 5,839,424 6,279,713 6,613,987

Growth (%) 19.42% 28.22% 7.54% 5.32% 2,566
Total Revenues 3,199,687 3,592,658 4,686,457 4,211,578 4,133,679

Growth (%) 12.28% 30.45% -10.13% -1.85%
-132
2009 2010 2011 2012 2013
Cost of Revenues 1,809,194 1,821,244 2,324,138 2,530,503 2,880,220

Gross Profit 1,390,493 1,771,414 2,362,319 1,681,075 1,253,459
Expenses (Income) 371,842 371,894 356,795 357,102 227,810
4,212
4,686
Growth (%) 37.39% 43.30% -33.98% -22.53% 4,134

3,593
3,730
3,200
Other Income (Expenses) -10,512 -17,738 84,989 48,110 -28,658
Income before Tax 1,008,139 1,381,782 2,090,513 1,372,083 996,991 2,774
Tax 300,652 348,453 389,000 256,544 228,366

Profit for the period 707,487 1,033,329 1,701,513 1,115,539 768,625
1,818
Growth (%) 46.06% 64.66% -34.44% -31.10%

862
Period Attributable 707,487 1,033,329 1,701,580 1,116,186 769,493 -94
Comprehensive Income - 1,033,329 1,701,513 1,122,575 788,003 2009 2010 2011 2012 2013
Comprehensive Attributable - 1,033,329 1,701,580 1,123,222 788,871
Current Ratio (%) 140.54 239.27 483.25 327.30 248.52
1,702
Dividend (Rp) 209.00 61.00 100.00 66.00 - 1,702
EPS (Rp) 518.47 757.25 249.39 163.60 112.78

BV (Rp) 2,794.62 3,337.39 855.86 920.39 969.39 1,354
1,116
1,033
DAR (X) 0.21 0.18 0.14 0.17 0.17
1,007
DER(X) 0.27 0.22 0.16 0.20 0.21 769

707
ROA (%) 14.58 18.58 25.05 14.77 9.64 660
ROE (%) 18.55 22.69 29.14 17.76 11.62

GPM (%) 43.46 49.31 50.41 39.92 30.32 313
OPM (%) 31.84 38.96 42.79 31.44 24.81

NPM (%) 22.11 28.76 36.31 26.49 18.59
-34
2009 2010 2011 2012 2013

Payout Ratio (%) 40.31 8.06 40.10 40.34 -
Yield (%) 2.50 0.47 4.44 2.87 -

COMPANY REPORT
MAIN
MALINDO FEEDMILL TBK.
Company Profile
PT Malindo Feedmill Tbk. was established in 1997 and The company is one of the growing
main played in agri-food industry.
The company produces and trades animal feed, particularly broiler breeder feed, broiler
layer feed, layer breeder feed and Commercial Day Chicks (DOC). The company also invests
in subsidiaries that produces and markets parent stock DOC, Commercial DOC and Broiler
chickens.
The company commenced commercial operations in 1998. The Company is domiciled in

Duta Mas Fatmawati, Jln. RS Fatmawati No. 39, Jakarta. The Companys plants are located
in Jakarta, East Java and Banten, while its farms are located in West Java, Central Java, East
Java, Sumatera and South Kalimantan.
The company produce variety of feed to suits market requirements and customers needs.
The main type of feed produce are:
a. Poultry feed from breeder feed, broiler feed and layer feed.
b. Fish feed.
The Company and Subsidiaries had a total of 2,989 permanent employees as of December
31st, 2013.
January 2014
Disclaimer:

MAIN Malindo Feedmill Tbk. [S]
Development Board Individual Index : 1,855.114
Industry Sub Sector : Animal Feed (36) Market Capitalization : 5,534,175,000,000
115 | 5.53T | 0.13% | 89.24%
42 | 6.95T | 0.63% | 70.36%

Established Date : 10-Jun-1997 1. Dragon Amity Ltd 1,001,675,000 : 59.00%
Listing Date : 27-Jan-2006 2. Public (<5%) 693,325,000 : 41.00%
Under Writer IPO :
PT CIMB-GK Securities Indonesia DIVIDEND ANNOUNCEMENT
PT Republik Securities Bonus Cash Recording Payment
F/I
PT Makinta Securities Year Shares Dividend Cum Date Ex Date Date Date
PT Nusadana Capital Indonesia 2005 70.00 27-Jul-06 28-Jul-06 01-Aug-06 15-Aug-06 F
PT Equity Development Securities 2006 25.00 09-Nov-06 10-Nov-06 14-Nov-06 28-Nov-06 I
Securities Administration Bureau : 2006 63.00 09-Oct-07 10-Oct-07 17-Oct-07 31-Oct-07 I
PT Sinartama Gunita 2007 25.00 17-Dec-08 18-Dec-08 22-Dec-08 30-Dec-08 F
Plaza BII Menara 1, 9th Fl. 2008 4.00 06-Aug-09 07-Aug-09 11-Aug-09 26-Aug-09 F
Jln. M.H. Thamrin No. 51 Jakarta 10350 2009 56.00 06-Sep-10 07-Sep-10 16-Sep-10 30-Sep-10 F
Phone : (021) 392-2332 2010 70.00 17-Dec-10 20-Dec-10 22-Dec-10 28-Dec-10 I
Fax : (021) 392-3003 2010 23.00 16-Sep-11 19-Sep-11 21-Sep-11 29-Sep-11 F
2011 25.00 06-Dec-12 07-Dec-12 11-Dec-12 27-Dec-12 F
BOARD OF COMMISSIONERS 2012 36.00 08-Nov-13 11-Nov-13 13-Nov-13 27-Nov-13 F
1. Lau Bong Wong
2. Tan Lai Kai ISSUED HISTORY
3. Yongkie Handaya *) Listing Trading
*) Independent Commissioners No. Type of Listing Shares Date Date
1. First Issue 61,000,000 10-Feb-06 10-Feb-06
BOARD OF DIRECTORS 2. Company Listing 278,000,000 10-Feb-06 10-Oct-06
1. Lau Chia Nguang 3. Stock Splits 1,356,000,000 15-Jun-11 15-Jun-11
2. Abdul Azim Bin Mohamad Zabidi
3. Lau Tuang Nguang
4. Mazlan bin A. Talib
5. Ong Beng Siong
6. Tang Ung Lee
7. Teoh Bee Tang
AUDIT COMMITTEE
1. Yongkie Handaya
2. Evyliana Diapary
3. Koh Kim Chui
4. Rachmad
CORPORATE SECRETARY
Rudy Hartono Husin
HEAD OFFICE
Jln. R.S. Fatmawati No. 39
Komplek Duta Mas Fatmawati Blok A1 No. 30 - 32
Cipete Utara Kebayoran Baru, Jakarta - 12150
Phone : (021) 766-1727, 722-8383
Fax : (021) 766-1728, 723-7778
Homepage : www.malindofeedmill.co.id
Email : rudy.hartono@malindofeedmill.co.id

TRADING ACTIVITIES
Malindo Feedmill Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
4,200 160 Jan-10 920 880 920 139 432 389 16
Feb-10 1,130 890 910 265 5,197 4,689 16
3,675 140 Mar-10 1,150 890 1,150 130 1,013 968 22
Apr-10 1,180 900 970 87 878 880 21
May-10 970 950 970 23 335 323 9
3,150 120
Jun-10 - - 970 10 59,349 57,569 2
Jul-10 - - 970 11 4,838 4,838 3
2,625 100
Aug-10 1,300 1,050 1,300 16 6,214 6,604 8
Sep-10 1,460 1,130 1,320 50 1,000 1,201 9
2,100 80
Oct-10 1,350 1,020 1,180 38 5,084 5,751 12
Nov-10 3,750 1,260 3,375 7,001 51,889 99,381 13
1,575 60 Dec-10 3,625 2,700 3,200 3,811 15,668 52,413 20
1,050 40 Jan-11 3,450 2,850 3,350 1,528 4,479 14,861 21

Feb-11 3,925 3,325 3,925 2,065 13,347 46,571 18
525 20 Mar-11 5,300 3,975 5,300 4,573 17,481 80,893 23
Apr-11 5,850 5,200 5,800 5,264 41,545 228,571 20
May-11 6,000 5,250 5,700 5,726 39,029 220,871 21
Jun-11 5,700 1,000 1,010 4,599 77,410 157,183 20
Jul-11 1,110 1,000 1,070 12,764 288,410 304,139 21
Aug-11 1,280 890 1,180 17,939 287,369 330,011 19
Sep-11 1,220 940 1,060 12,260 185,239 205,788 20
Closing Price*, Jakarta Composite Index (IHSG) and Oct-11 1,140 990 1,030 13,953 201,605 214,965 21
Basic Industry and Chemicals Index Nov-11 1,110 890 930 15,060 185,824 178,979 22
2,240%
Jan-12 1,180 960 1,040 16,430 232,418 261,039 21
1,920% Feb-12 1,090 980 1,030 36,526 195,120 200,352 21
1734.3% Mar-12 1,090 1,000 1,060 21,390 149,683 156,411 21
1,600% Apr-12 1,210 1,010 1,130 11,084 125,168 133,182 20
May-12 1,400 1,130 1,190 20,295 200,009 258,717 21
1,280% Jun-12 1,490 1,070 1,490 19,769 188,984 244,570 21
Jul-12 1,790 1,420 1,640 18,270 209,275 338,938 22
Aug-12 1,640 1,450 1,480 17,577 146,068 223,268 19
960%
Sep-12 1,570 1,320 1,540 22,474 172,813 252,549 20
Oct-12 1,670 1,500 1,640 28,306 274,007 438,097 22
640%
Nov-12 2,150 1,610 2,150 15,958 248,284 461,939 20
Dec-12 2,500 1,970 2,375 14,299 219,325 491,050 18
320%
Jan-13 2,725 2,250 2,525 27,046 315,891 772,837 21

86.2%
- Feb-13 3,050 2,350 3,025 18,921 369,736 988,763 20
71.6%
Mar-13 3,375 2,900 3,100 22,309 261,965 819,735 19
-320% Apr-13 3,125 2,600 2,800 30,637 361,448 1,031,438 22
Jun-13 3,825 3,050 3,650 21,064 195,444 695,785 19
Jul-13 3,725 3,075 3,125 19,894 191,633 649,081 23
Volume (Million Sh.) 152 1,486 2,361 2,625 54 Sep-13 3,550 2,525 3,475 17,975 151,729 486,905 21
Value (Billion Rp) 235 2,117 3,460 7,996 182 Oct-13 3,650 3,250 3,375 15,752 127,338 438,814 21
Days 151 247 246 244 20 Dec-13 3,375 3,000 3,175 12,234 105,457 335,707 19
Price (Rupiah) Jan-14 3,565 3,180 3,265 11,481 54,179 181,938 20

High 3,750 6,000 2,500 4,300 3,565
Low 880 890 960 2,200 3,180
Close 3,200 980 2,375 3,175 3,265
Close* 640 980 2,375 3,175 3,265
PER (X) 6.03 8.10 13.31 16.66 17.13

PER Industry (X) 12.86 10.41 9.79 17.44 13.29
PBV (X) 4.20 3.94 5.90 6.23 6.41

Public Accountant : Anwar & Rekan (Member of DFK International)
Receivables 134,908 112,697 174,385 231,252 303,120

121,535 116,963 239,006 262,603 391,892 1,800
Inventories
Current Assets 549,324 507,412 720,454 894,204 996,981
1,350
Fixed Assets 292,012 420,295 561,328 854,678 1,128,473
Other Assets - 93 130 - 127
900
Total Assets 885,348 966,319 1,327,801 1,799,882 2,214,399
Growth (%) 9.15% 37.41% 35.55% 23.03% 450
Current Liabilities 415,555 356,573 515,044 852,741 986,471 -

Total Liabilities 766,696 710,475 905,977 1,118,011 1,351,916
Growth (%) -7.33% 27.52% 23.40% 20.92%
Authorized Capital 58,587 58,587 58,587 58,587 58,587 862
Paid up Capital 33,900 33,900 33,900 33,900 33,900 862
Paid up Capital (Shares) 339 339 1,695 1,695 1,695 682

Par Value 100 100 20 20 20
687
Retained Earnings 187,224 324,476 490,749 751,129 931,356

422
511
Total Equity 120,794 258,046 421,825 681,871 862,483

Growth (%) 113.63% 63.47% 61.65% 26.49% 335
258
121
Total Revenues 1,868,616 2,036,519 2,634,461 3,349,567 4,193,082

Growth (%) 8.99% 29.36% 27.14% 25.18%
-17
2009 2010 2011 2012 2013
Cost of Revenues 1,636,114 1,648,161 2,173,770 2,711,125 3,475,173

Gross Profit 232,502 388,358 460,691 638,442 717,909
Expenses (Income) 100,613 129,007 150,161 190,701 341,424
Operating Profit 131,889 259,351 310,530 447,741 376,485 4,193
4,193
Growth (%) 96.64% 19.73% 44.19% -15.91%

3,350
3,338

2,037
1,869
Tax 36,906 44,999 59,645 80,655 69,255
1,627
Growth (%) 138.42% 13.93% 47.55% -20.10%

772
Comprehensive Income 75,970 179,906 204,966 302,421 -241,633 2009 2010 2011 2012 2013
Current Ratio (%) 132.19 142.30 139.88 104.86 101.07
302
Dividend (Rp) 56.00 93.00 25.00 36.00 - 302
EPS (Rp) 222.59 530.87 121.10 178.62 142.33 242

BV (Rp) 356.32 761.20 248.86 402.28 508.84 241
205
DAR (X) 0.87 0.74 0.68 0.62 0.61 180
179
DER(X) 6.35 2.75 2.15 1.64 1.57

ROA (%) 8.52 18.62 15.44 16.80 10.91 117
62.47 69.72 48.59 44.35 28.02 75

ROE (%)
GPM (%) 12.44 19.07 17.49 19.06 17.12 56
OPM (%) 7.06 12.73 11.79 13.37 8.98

NPM (%) 4.04 8.83 7.78 9.03 5.76
-6
2009 2010 2011 2012 2013

Payout Ratio (%) 25.16 17.52 20.64 20.15 -
Yield (%) 6.22 2.91 2.55 1.52 -

COMPANY REPORT
MLPL
MULTIPOLAR TBK.
Company Profile

PTMultipolarTbk.wasestablishedonDecember4th,1975.Currently,theCompanyprimarily
engaged in the field of telecommunications, informatics industry, general trade including
import trade, export, interinsulair, local and retail, services development and property
management/real estate, renting spaces in the store. Last parent Company and its
subsidiaries are Lanius Limited. Company started commercial operations on December 4,
1975.

TheCompanyhasdirectownershipinthefollowingsubsidiaries:
PTMatahariPutraPrimaTbk.,
PTMatahariPacific,
PTNadyaPutraInvestama,
PTKharismaArthaSejati,
PTReksaPuspitaKarya,
PTMultipolarTechnologyTbk,
PTSuryaCiptaInvestama,
PTGeneralArthaSejati,
PTAirPasifikUtama,
PTCahayaArthaSejati,
PrimeStarInvestmentPte.Ltd.,
PTMultipolarMultimediaPrima,
PTPrimaCakrawalaSentosa,and
PacificEmeraldPte.Ltd.

NumberofEmployeesoftheCompanyonDecember31st,2013was16,402Employees.
January 2014
Disclaimer:

MLPL Multipolar Tbk. [S]
Industry Sub Sector : Investment Company (98) Market Capitalization : 4,196,999,633,691
138 | 4.20T | 0.10% | 91.84%
32 | 8.57T | 0.78% | 63.41%

Established Date : 04-Dec-1975 1. Cyport Limited 2,714,279,928 : 26.97%
Listing Date : 06-Nov-1989 2. Grandhill Asia Limited 508,464,505 : 5.05%
PT Finconesia
PT Multicor DIVIDEND ANNOUNCEMENT
F/I
PT Sharestar Indonesia Year Shares Dividend Cum Date Ex Date Date Date
Beritasatu Plasa 7th Fl. 1989 185.00 21-Sep-90 24-Sep-90 28-Sep-90 10-Oct-90 F
Jln. Jend. Gatot Subroto Kav. 35 - 36 Jakarta 12950 1991 240.00 08-Oct-91 09-Oct-91 18-Oct-91 06-Nov-91 F
Phone : (021) 527-7966 1992 1:2 240.00 09-Oct-92 10-Oct-92 19-Oct-92 06-Nov-92 F
Fax : (021) 527-7967 1992 35.00 12-Oct-93 13-Oct-93 20-Oct-93 06-Nov-93 F
1994 45.00 10-Oct-94 11-Oct-94 18-Oct-94 16-Nov-94
BOARD OF COMMISSIONERS 1995 55.00 11-Oct-95 12-Oct-95 20-Oct-95 16-Nov-95 F
1. Theo L. Sambuaga 1995 16.00 03-Oct-96 04-Oct-96 14-Oct-96 12-Nov-96 F
2. Isnandar Rachmat Ali *) 2006 1.00 15-Jun-07 18-Jun-07 20-Jun-07 04-Jul-07 F
3. Jeffrey Koes Wonsono 2007 1.00 15-Apr-08 16-Apr-08 18-Apr-08 05-May-08 I
4. Jonathan L. Parapak *) 2010 10.00 07-Mar-11 08-Mar-11 10-Mar-11 24-Mar-11 F
5. Vivien G. Setiabudi 2011 1.00 22-May-12 23-May-12 25-May-12 07-Jun-12 F
*) Independent Commissioners 2012 1.00 16-May-13 17-May-13 21-May-13 04-Jun-13 F

1. Eddy H. Handoko Listing Trading
2. Bunjamin J. Mailool No. Type of Listing Shares Date Date
3. Harijono Suwarno 1. First Issue 4,328,000 06-Nov-89 06-Nov-89
4. Lina H. Latif 2. Company Listing 7,100,000 T: 16-Jul-90 : 24-Jul-90
5. Reynold Pena Ong 3. Bonus Shares 22,856,000 09-Nov-92 09-Nov-92
6. Richard H. Setiadi 4. Right Issue 12,555,991,940 T: 12-Jul-96 : 03-Jun-10
5. Stock Split 137,136,000 01-Apr-97 01-Apr-97
AUDIT COMMITTEE 6. Additional Listing 89,000,000 27-Jul-00 27-Jul-00
1. Isnandar Rachmat Ali 7. Warrant 560 T: 02-Dec-09 : 10-Dec-09
2. Ridwan Masui 8. Reverse Stocks -5,088,869,670 07-Apr-10 07-Apr-10
3. A. Sonny Soedjadi 9. Warrant II 2,337,204,493 T: 07-Mar-11 : 17-Apr-13
CORPORATE SECRETARY
Chrysologus RN Sinulingga
HEAD OFFICE
Menara Matahari 21st Fl.
Jln. Bolevar Palem Raya No. 7, Lippo Karawaci 1200
Tangerang - 15811
Phone : (021) 546-8888
Fax : (021) 547-5147
Homepage : www.multipolar-group.com
Email : multipolar@multipolar.co.id
chrys.sinulingga@multipolar-group.com

TRADING ACTIVITIES
Multipolar Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
800 640 Jan-10 106 59 103 13,628 1,401,115 125,448 20
Feb-10 109 59 63 15,303 1,122,944 88,884 19
700 560 Mar-10 84 57 69 12,791 906,629 62,814 22
Apr-10 270 65 123 14,338 1,084,111 138,274 21
May-10 124 75 97 7,264 414,961 48,282 19
600 480
Jun-10 110 93 98 4,829 161,872 16,427 22
Jul-10 100 87 95 2,699 64,436 5,979 22
500 400
Aug-10 104 91 95 5,247 137,092 13,240 21
Sep-10 137 94 128 9,036 401,444 49,490 17
400 320
Oct-10 255 130 225 27,876 1,970,756 401,355 21
Nov-10 250 200 220 8,417 541,901 122,735 21
300 240 Dec-10 380 220 300 33,338 2,478,418 773,936 20
200 160 Jan-11 340 270 310 13,075 1,001,415 312,641 21

Feb-11 320 235 245 9,390 654,138 180,207 18
100 80 Mar-11 265 230 260 8,518 412,376 101,411 23
Apr-11 270 250 255 23,397 484,726 126,786 20
May-11 285 240 250 21,858 542,904 142,048 21
Jun-11 260 205 210 4,027 217,135 49,387 20
Jul-11 255 200 225 28,275 672,730 153,637 21
Aug-11 230 179 180 8,966 324,053 66,157 19
Sep-11 184 126 141 18,634 275,799 44,633 20
Trade, Sevices and Investment Index Nov-11 164 136 147 3,654 133,045 19,709 22
455%
Jan-12 170 150 154 3,022 84,982 13,217 21
390% Feb-12 159 141 142 2,879 66,719 9,829 21
Mar-12 147 132 139 1,122 28,162 3,863 21
325% Apr-12 138 111 125 4,642 115,738 14,197 20
May-12 155 118 128 8,149 253,772 35,544 21
260% Jun-12 128 114 121 1,153 44,931 5,339 21
Jul-12 141 121 136 3,234 96,631 12,758 22
Aug-12 139 122 125 2,219 96,862 12,858 19
195% 181.3%
180.6% Sep-12 255 124 220 20,725 1,176,791 221,252 20
Oct-12 240 190 191 5,888 340,658 71,176 22
130%
Nov-12 265 180 235 14,277 724,236 163,780 20
Dec-12 250 205 205 4,626 251,045 57,032 18
65% 71.6%
Jan-13 335 200 330 9,377 841,644 227,666 21

- Feb-13 520 330 450 39,631 3,933,731 1,656,719 20
Mar-13 730 450 570 47,231 3,952,072 2,350,772 19
-65% Apr-13 620 520 590 22,933 1,351,481 770,465 22
Jun-13 820 485 580 40,297 2,538,156 1,560,206 19
Jul-13 660 485 530 26,801 1,378,244 781,146 23
SHARES TRADED 2010 2011 2012 2013 Jan-14 Aug-13 590 390 435 13,776 765,372 381,446 17
Volume (Million Sh.) 10,686 4,923 3,281 20,093 487 Sep-13 445 315 350 28,136 1,395,162 523,027 21
Value (Billion Rp) 1,847 1,226 621 10,516 191 Oct-13 415 350 405 12,381 791,087 309,259 21
Frequency (Thou. X) 155 148 72 291 17 Nov-13 420 360 370 8,908 487,111 188,560 20
Days 245 247 246 244 20 Dec-13 380 350 360 6,556 301,598 109,588 19
Price (Rupiah) Jan-14 438 350 417 17,036 486,526 191,141 20

High 380 340 265 820 438
Low 57 124 111 200 350
Close 300 151 205 360 417
Close* 300 151 205 360 417
PER (X) 0.82 7.62 6.19 1.77 2.04

PER Industry (X) 21.27 16.89 19.08 15.43 17.12
PBV (X) 0.48 0.14 0.22 0.40 0.47

Receivables 247,055 436,243 223,397 231,454 349,050

1,233,082 1,057,447 1,413,534 2,064,262 2,925,163 17,000
Inventories
Current Assets 5,924,727 7,006,683 5,999,664 6,961,406 12,055,961
12,750
Fixed Assets 2,282,299 2,012,332 2,262,732 2,593,069 30,192,440
Other Assets 288,502 203,597 401,349 203,426 425,192
8,500
Total Assets 11,868,377 14,016,686 14,314,707 14,088,183 20,255,269
Growth (%) 18.10% 2.13% -1.58% 43.77% 4,250

Growth (%) -34.53% 11.78% 14.10% 60.31%
1,550,058 2,153,183 2,153,183 2,153,183 2,386,904 8,501
Paid up Capital 8,977
8,149
Par Value 500 & 125
7,146
2000 & 500 & 100 2000 & 500 & 100 2000 & 500 & 100 2000 & 500 & 100
Retained Earnings 50,952 2,864,964 2,808,007 2,828,916 4,233,942

5,314
Total Equity 1,586,463 8,500,551 8,148,739 7,053,073 8,977,127

Growth (%) 435.82% -4.14% -13.45% 27.28% 3,483
1,586
Total Revenues 10,885,698 9,537,671 10,332,842 12,642,770 14,671,670

Growth (%) -12.38% 8.34% 22.36% 16.05%
-180
2009 2010 2011 2012 2013
Cost of Revenues 7,214,164 7,366,240 8,534,649 10,393,875 12,020,863

Gross Profit 3,671,534 2,171,431 1,798,193 2,248,895 2,650,807
Expenses (Income) 3,126,424 2,155,536 1,819,895 2,025,794 884,612
Operating Profit 545,110 15,895 -21,702 223,101 1,766,195 14,672
14,672
Growth (%) -97.08% N/A N/A 691.66% 12,643

10,886
11,679
10,333
Other Income (Expenses) -212,660 -144,584 110,934 -68,020 -981 9,538
Income before Tax 343,210 -123,008 89,232 155,081 1,765,214 8,686
Tax 82,573 -16,904 -6,806 -11,502 119,304

Profit for the period 260,637 5,627,111 96,038 166,583 1,645,910
5,693
Growth (%) 2,058.98% -98.29% 73.46% 888.04%

2,700
Period Attributable 260,637 5,627,111 20,318 28,636 1,415,091 -293
Comprehensive Income 110,691 2,830,626 153,136 255,939 1,623,148 2009 2010 2011 2012 2013
Comprehensive Attributable - 2,830,626 77,415 117,992 1,392,329
Current Ratio (%) 163.40 189.08 148.40 149.01 153.54
5,627
Dividend (Rp) - 10.00 1.00 1.00 - 5,742
EPS (Rp) 38.41 728.19 2.63 3.71 140.60

BV (Rp) 233.81 1,100.03 1,054.51 912.72 891.94 4,570
DAR (X) 0.71 0.39 0.43 0.50 0.56

3,399
DER(X) 5.31 0.65 0.76 1.00 1.26

ROA (%) 2.20 40.15 0.67 1.18 8.13
1,646
2,228
ROE (%) 16.43 66.20 1.18 2.36 18.33

GPM (%) 33.73 22.77 17.40 17.79 18.07 1,056
261 96 167
OPM (%) 5.01 0.17 -0.21 1.76 12.04
NPM (%) 2.39 59.00 0.93 1.32 11.22
-115
2009 2010 2011 2012 2013

Payout Ratio (%) - 1.37 38.03 26.99 -
Yield (%) - 3.33 0.66 0.49 -

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 FreeToAir televisions in Indonesia. MNC have 3
FreeToAir (FTA) TVs RCTI, MNCTV and GlobalTV as well as 16 channels created and
produced by MNC that is broadcasted on PayTV. Currently, MNC also have other media
based business that supports the core businesses of MNC. Those businesses consist of
radio,printmedia,talentmanagement,andaproductionhouse.MNCwasestablishedon
June17,1997.

Based on the Company's Articles of Association, the purposes and objectives of the
Company is to engage in the industries of general trading, development, industry,
agriculture, transportation, printing, multimedia through other telecomunication
equipment,serviceandinvestment.

The Companyis part of Mediacom Group. The Company has ownership in the following
subsidiaries:
Broadcasting:
1. PTRajawaliCitraTelevisiIndonesia(RCTI)
2. PTGlobalInformasiBermutu
3. PTCiptaTelevisiPendidikanIndonesia
4. PTMNCNetworks
5. MediaNusantaraCitraB.V.
6. MNCInternationalMiddleEastLimited

Printandonline:
1. PTMediaNusantaraInformasiandsubsidiary
2. PTMNIGlobal
3. PTMNIPublishinganditssubsidiary
4. PTOkezoneIndonesia(Okezone)

Advertisingagency:
1. PTCrossMediaInternasional(CMI)anditssubsidiaries

Contentproduction:
1. PTMNCPictures

Talentmanagement:
1. PTStarMediaNusantara
January 2014
Disclaimer:

MNCN Media Nusantara Citra Tbk. [S]
Industry Sub Sector : Advertising, Printing And Media (95) Market Capitalization : 31,512,299,805,000
25 | 31.5T | 0.73% | 62.42%
21 | 13.9T | 1.26% | 53.78%

Established Date : 17-Jun-1997 1. PT Global Mediacom Tbk 8,329,662,142 : 59.08%
Listing Date : 22-Jun-2007 2. PT Global Mediacom Tbk 790,000,000 : 5.60%
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-Jan-13 27-Dec-13 02-Jan-14 16-Jan-14 I
2. Adam Chesnoff
3. Bambang Rudijanto Tanoesoedibjo ISSUED HISTORY
4. Irman Gusman *) Listing Trading
5. Sutanto *) No. Type of Listing Shares Date Date
*) Independent Commissioners 1. First Issue 4,125,000,000 22-Jun-07 22-Jun-07
2. Company Listing 9,625,000,000 T: 22-Jun-07 : 22-Feb-08
BOARD OF DIRECTORS 3. EMSOP Conversion II 23,504,500 T: 29-Nov-10 : 06-Jan-11
1. Hary Tanoesoedibjo 4. EMSOP Conversion II & III 52,960,500 T: 17-Feb-11 : 19-Jul-11
2. Jarod Suwahjo 5. EMSOP Conversion II, III & IV 37,076,500 T: 26-Jul-11 : 21-May-12
3. Kanti Mirdiati Irmansyah 6. EMSOP Conversion III & IV 3,988,000 04-Aug-11 04-Aug-11
4. 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 III, IV, V & VI 143,344,500 T: 29-May-13 : 27-Nov-13
2. Hery Kusnanto 11. Revision ESOP/MSOP III, IV, V & VI -8,000 24-Jun-13 24-Jun-13
3. Kardinal A. Karim
CORPORATE SECRETARY
Arya Mahendra Sinulingga
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 : am.sinulingga@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
Trade, Sevices and Investment Index Nov-11 1,150 1,060 1,130 16,678 1,624,613 1,665,479 22
January 2010 - January 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
May-12 2,350 1,760 1,850 32,759 769,427 1,560,239 21
960% 964.3% 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%
180.6%
Jan-13 2,650 2,275 2,375 34,386 642,003 1,559,472 21
71.6%
- 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
Value (Billion Rp) 3,313 7,361 15,067 18,835 821 Oct-13 3,025 2,475 2,500 42,841 679,718 1,829,601 21
Days 245 247 246 244 20 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 2,650
Low 205 770 1,270 2,275 2,180
Close 940 1,310 2,500 2,625 2,235
Close* 940 1,310 2,500 2,625 2,235
PER (X) 17.73 15.73 19.59 21.85 18.61

PER Industry (X) 21.27 16.89 19.08 15.43 17.12
PBV (X) 2.72 2.65 4.78 4.81 4.10

Cash & Cash Equivalents 1,118,477 1,080,409 837,230 528,415 574,761 10,000
Receivables 1,833,387 2,202,994 2,558,400 2,615,430 3,062,803

951,030 915,310 894,311 1,139,486 1,332,726 8,000
Inventories
Current Assets 4,785,995 5,201,103 6,018,612 6,766,799 6,811,828
6,000
Fixed Assets 1,009,469 1,040,165 971,773 985,995 1,542,677
Other Assets 140,869 196,697 119,761 38,494 56,382
4,000
Total Assets 7,641,364 8,196,543 8,798,230 8,960,942 9,615,280
Growth (%) 7.27% 7.34% 1.85% 7.30% 2,000

Long Term Liabilities 1,402,931 155,762 736,363 413,555 265,215 2009 2010 2011 2012 2013
Growth (%) 0.20% -28.86% -15.27% 12.50%
Paid up Capital 1,375,000 1,377,350 4,000,000 1,395,613 1,409,946 7,744
7,297
6,835
Par Value 100 100 100 100 100
6,164
4,767
Retained Earnings 846,019 1,482,241 2,345,128 3,511,354 4,085,903 4,286
4,584
Total Equity 4,286,176 4,767,037 6,834,503 7,297,162 7,743,574

Growth (%) 11.22% 43.37% 6.77% 6.12% 3,005
Total Revenues 3,923,845 4,855,907 5,390,474 6,265,260 6,522,347

Growth (%) 23.75% 11.01% 16.23% 4.10%
-155
2009 2010 2011 2012 2013
Cost of Revenues 3,316,621 3,666,775 2,617,157 2,856,657 2,850,657

Gross Profit 607,224 1,189,132 2,773,317 3,408,603 2,850,657
Expenses (Income) 3,316,621 3,666,775 1,262,793 1,147,895 1,278,161
Operating Profit 607,224 1,189,132 - - - 6,522
6,522
6,265
Growth (%) 95.83% 5,390
5,192
4,856
Other Income (Expenses) -46,672 -164,063 - - - 3,924
Income before Tax 560,692 1,025,069 1,510,524 2,260,708 2,393,529 3,861
Tax 164,024 280,850 385,353 497,689 583,687

Profit for the period 396,668 744,219 1,125,171 1,763,019 1,809,842
2,531
Growth (%) 87.62% 51.19% 56.69% 2.66%

1,200
Period Attributable 396,668 730,218 1,070,203 1,657,087 1,691,172 -130
Comprehensive Income 385,617 696,011 1,153,383 1,781,284 1,791,090 2009 2010 2011 2012 2013
Comprehensive Attributable - 664,540 1,098,415 1,675,352 1,672,420
Current Ratio (%) 354.00 199.68 490.37 541.25 424.02
1,763 1,810
Dividend (Rp) 12.00 15.00 35.00 55.00 25.00 1,810
EPS (Rp) 28.85 53.02 26.76 118.74 119.95

BV (Rp) 311.72 346.10 170.86 522.86 549.21 1,441
1,125
DAR (X) 0.36 0.34 0.22 0.19 0.19
1,071
DER(X) 0.64 0.58 0.29 0.23 0.24

744
ROA (%) 5.19 9.08 12.79 19.67 18.82 702
ROE (%) 9.25 15.61 16.46 24.16 23.37 397

GPM (%) 15.48 24.49 51.45 54.40 43.71 333
OPM (%) 15.48 24.49 - - -

NPM (%) 10.11 15.33 20.87 28.14 27.75
-36
2009 2010 2011 2012 2013

Payout Ratio (%) 41.60 28.29 130.82 46.32 20.84
Yield (%) 5.71 1.60 2.67 2.20 0.95

COMPANY REPORT
PGAS
PERUSAHAAN GAS NEGARA
(PERSERO) TBK.
Company Profile
PTPerusahaanGasNegara(Persero)Tbk.originallynamedFirmaL.J.N.Eindhoven&Co.Gravenhage,
wasestablishedin1859.OnMay13th,1965,theCompanywasstatedasstateownedenterpriseand
knownasPerusahaanNegaraGas(PN.Gas).

ThestatusoftheCompanywaschangedfromapublicserviceenterprise(Perum)toastateowned
limited liability company (Persero) and the name was changed to PT Perusahaan Gas Negara
(Persero)basedonGovernmentRegulationNo.37year1994.

The Companys purposes are to implement and support the Governments economic and national
developmentprograms,particularlyindevelopingusesofnaturalgasforthebenefitofthepublicas
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 Companys principal business was the distribution and transmission of
naturalgastoindustrial,commercialandhouseholdusers.

To achieve responsive sales target, the Company has divided its business areas into four Strategic
BusinessUnits(SBU),asfollows:
1. SBUDistributionRegionI,WesternJavaRegionuntilSouthSumatera,
2. SBUDistributionRegionII,EasternJavaRegion,
3. SBUDistributionRegionIII,NorthernSumateraRegionandtheRiauIslands,
4. SBUSumateraJavaTransmission.

TheCompanycommencedtheconstructionofSouthSumateraWestJavagastransmissionIandII
willexpectedopereatingmaximumcapacityof460mmscfdand520mmscfd(unaudited).

Thecompanyhasownershipinsubsidiaries:PTTransportasiGasIndonesia(Transgasindo),PGNEuro
Finance 2003 Limited, PT PGAS Telekomunikasi Nusantara, PT PGAS Solution, PT Saka Energi
Indonesia, PT Gagas Energi Indonesia, and PT PGN LNG Indonesia. As of December 31st, 2013, the
CompanyandSubsidiarieshadatotalof1,920employees.

January 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 : 115,631,994,094,920
8 | 115.6T | 2.66% | 40.61%
6 | 29.7T | 2.69% | 26.44%

Established Date : 01-Feb-1905 1. Negara Republik Indonesia 13,809,038,756 : 56.96%
Listing Date : 15-Dec-2003 2. Public (<5%) 10,432,469,440 : 43.04%
Under Writer IPO :
PT ABN AMRO Asia Securities Indonesia Bonus Cash Recording Payment
F/I
Wisma Sudirman - Puri Datindo 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. Kiagus Ahmad Badaruddin 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

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. Shalahuddin Haikal
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
125%
Jan-12 3,500 3,050 3,375 27,122 470,932 1,557,024 21
100% 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
71.6%
May-12 4,000 3,350 3,700 34,239 905,887 3,409,283 21
50% Jun-12 3,700 3,275 3,525 31,672 804,437 2,822,960 21
Jul-12 3,825 3,475 3,800 29,674 632,860 2,324,863 22
32.1% Aug-12 3,825 3,600 3,700 21,472 493,571 1,824,200 19
25%
20.8% 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 20 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 4,780
Low 3,250 2,025 3,050 4,375 4,120
Close 4,425 3,175 4,600 4,475 4,770
Close* 4,425 3,175 4,600 4,475 4,770
PER (X) 17.19 12.49 12.61 10.92 11.64

PER Industry (X) 14.36 11.09 17.53 18.40 18.52
PBV (X) 7.73 4.48 4.90 3.73 3.98

Receivables 1,711,200 1,946,894 2,043,553 2,550,177 3,875,102

14,120 14,046 11,836 23,644 179,329 50,000
Inventories
Current Assets 9,263,401 13,858,679 13,656,295 19,183,520 21,847,077
37,500
Fixed Assets 17,329,189 16,781,897 15,866,650 16,378,657 22,542,829
Other Assets 7,136 23,056 38,309 21,425 50,620
25,000
Total Assets 28,670,440 32,087,431 30,976,446 37,791,930 53,536,157
Growth (%) 11.92% -3.46% 22.00% 41.66% 12,500

Growth (%) 6.88% -18.81% 8.91% 33.63%
Paid up Capital 2,424,151 2,424,151 2,424,151 2,424,151 4,164,206 33,463

Par Value 100 100 100 100 172
26,637
22,771
19,810
17,185
Total Equity 11,732,080 13,868,573 17,184,712 22,770,838 33,463,069 13,869
Growth (%) 18.21% 23.91% 32.51% 46.96% 12,984
11,732
Total Revenues 18,024,279 19,765,716 19,567,407 24,914,688 36,828,609

Growth (%) 9.66% -1.00% 27.33% 47.82%
-669
2009 2010 2011 2012 2013
Cost of Revenues 7,219,992 7,223,570 7,793,751 10,676,664 19,429,817

Gross Profit 10,804,287 12,542,146 11,773,656 14,238,024 17,398,792
Expenses (Income) 3,128,261 3,506,421 4,051,278 4,389,290 5,942,474
36,829
Growth (%) 17.71% -14.54% 27.53% 16.32%

29,316
24,915
Other Income (Expenses) 571,147 -972,551 -68,189 1,255,405 2,348,434
Income before Tax 8,247,172 8,063,174 7,654,189 11,104,139 13,804,752 19,766 19,567
18,024
21,803
Tax 1,814,304 1,599,774 1,535,979 2,253,611 2,836,789

14,290
Growth (%) 0.47% -5.34% 44.66% 23.92%

6,776
Current Ratio (%) 248.36 343.40 549.92 419.63 201.01
10,968
Dividend (Rp) 154.20 154.44 134.62 202.77 - 10,968
EPS (Rp) 265.37 257.38 244.75 355.38 435.56 8,851

BV (Rp) 483.97 572.10 708.90 939.33 1,380.40 8,730
DAR (X) 0.55 0.53 0.45 0.40 0.37 6,433 6,463 6,118
6,493
DER(X) 1.35 1.22 0.80 0.66 0.60

ROA (%) 22.44 20.14 19.75 23.42 20.49 4,256
ROE (%) 54.83 46.60 35.60 38.87 32.78

GPM (%) 59.94 63.45 60.17 57.15 47.24 2,018
OPM (%) 42.59 45.71 39.47 39.53 31.11

NPM (%) 35.69 32.70 31.27 35.52 29.78
-219
2009 2010 2011 2012 2013

Payout Ratio (%) 58.11 60.00 55.00 57.06 -
Yield (%) 3.95 3.49 4.24 4.41 -

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
BriquetteOperatingUnit.

The head office located at Jln. Parigi No. 1, Tanjung Enim 31716, Sumatera Selatan,
Indonesia.TherepresentativeofficelocatedatMenaraKadinIndonesia15thFloor,Jln.H.R.
RasunaSaidBlokX5Kav.23,Jakarta12950.

ThescopeofactivitiesoftheCompanyanditssubsidiariescomprisescoalminingactivities,
including general surveying, exploration, exploitation, processing, refining, transportation
and trading, maintenance of special coal port facilities for internal and external needs,
operationofsteampowerplantsforinternalandexternalneedsandprovidingconsulting
servicesrelatedtothecoalminingindustryaswellasitsderivativeproduct.

Thecompanyhasdirectownershipinsubsidiaries:
PTBatubaraBukitKendi,
PTBukitAsamPrima,
PTInternationalPrimaCoal,
PTBukitAsamMetanaOmbilin,
PTBukitAsamMetanaEnim,
PTBukitAsamMetanaPeranap,and
PTBukitAsamBanko.

AsofDecember31st2013,theCompanyhadatotalof3,115permanentemployees.
January 2014
Disclaimer:

PTBA Tambang Batubara Bukit Asam (Persero) Tbk. [S]
40 | 21.3T | 0.49% | 71.32%
35 | 8.44T | 0.76% | 65.72%

Listing Date : 23-Dec-2002 2. PT Tambang Batubara Bukit Asam (Persero) Tbk. 129,997,500 : 5.64%
PT Danareksa Sekuritas
PT Datindo Entrycom Bonus Cash Recording Payment
F/I
Wisma Sudirman - Puri Datindo Year Shares Dividend Cum Date Ex Date Date Date
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2002 41.75 21-May-03 22-May-03 26-May-03 27-May-03 F
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
125%
Jan-12 20,250 17,300 20,150 15,251 52,009 999,520 21
100% 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
71.6%
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%
-40.2% Jan-13 17,000 15,250 15,500 18,751 48,043 775,403 21

-50% -48.0% 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.) 956 757 706 653 109 Sep-13 14,150 12,000 12,750 14,849 40,865 540,723 21
Value (Billion Rp) 17,091 15,002 11,954 8,819 1,028 Oct-13 14,100 12,100 12,150 12,379 25,773 335,993 21
Days 245 247 246 244 20 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 10,600
Low 15,050 13,600 12,950 9,700 8,975
Close 22,950 17,350 15,100 10,200 9,250
Close* 22,950 17,350 15,100 10,200 9,250
PER (X) 26.32 12.95 15.33 14.17 12.85

PER Industry (X) 17.69 16.17 8.49 19.30 13.24
PBV (X) 8.31 4.90 4.09 3.52 3.19

Receivables 1,491,460 997,178 1,180,195 1,545,556 1,427,572

409,901 423,678 64,483 765,964 901,952 11,000
Inventories
Current Assets 6,783,391 6,645,953 8,859,260 8,718,297 6,479,783
8,250
Fixed Assets 371,523 921,005 1,140,466 1,853,447 2,803,393
Other Assets 30,107 57,588 50,949 97,886 119,746
5,500
Total Assets 8,078,578 8,722,699 11,507,104 12,728,981 11,677,155
Growth (%) 7.97% 31.92% 10.62% -8.26% 2,750

Long Term Liabilities 911,832 1,133,723 1,429,679 2,453,148 1,864,630 2009 2010 2011 2012 2013
Growth (%) -0.49% 46.49% 26.38% -2.33%
8,165
Paid up Capital 1,152,066 1,152,066 1,152,066 1,152,066 1,152,066 8,505
7,552
6,367
Par Value 500 500 500 500 500
6,770
5,701
5,035
Total Equity 5,701,372 6,366,736 8,165,002 8,505,169 7,551,569

Growth (%) 11.67% 28.24% 4.17% -11.21% 3,300
Total Revenues 8,947,854 7,909,154 10,581,570 11,594,057 11,209,219

Growth (%) -11.61% 33.79% 9.57% -3.32%
-170
2009 2010 2011 2012 2013
Cost of Revenues 4,104,301 4,258,988 5,302,592 6,505,932 7,745,646

Gross Profit 4,843,553 3,650,166 5,278,978 5,088,125 3,463,573
Expenses (Income) 1,295,238 1,346,008 1,219,874 1,494,615 1,310,735
11,209
11,594
10,582
Growth (%) -35.06% 76.16% -11.47% -40.09%
8,948
9,229
7,909
Other Income (Expenses) 217,039 301,057 - 318,077 308,524
Tax 1,032,675 600,713 971,037 1,002,166 607,081

4,498
Growth (%) -26.76% 54.49% -5.79% -36.27%

2,133
Current Ratio (%) 491.23 579.05 463.25 492.37 286.59
3,088
Dividend (Rp) 533.40 523.12 803.94 720.75 461.97 3,088
2,909
2,729
EPS (Rp) 1,184.54 871.86 1,339.26 1,258.66 792.55
BV (Rp) 2,474.41 2,763.18 3,543.63 3,691.27 3,277.40 2,458
1,999
0.28 0.26 0.29 0.33 0.35 1,854
DAR (X)
1,828
DER(X) 0.40 0.36 0.41 0.50 0.55

ROA (%) 33.78 22.92 26.84 22.86 15.88 1,198
ROE (%) 47.87 31.40 37.82 34.21 24.55

GPM (%) 54.13 46.15 49.89 43.89 30.90 568
OPM (%) 39.66 29.13 38.36 30.99 19.21

NPM (%) 30.50 25.27 29.18 25.09 16.54
-62
2009 2010 2011 2012 2013

Payout Ratio (%) 45.03 60.00 60.03 57.26 58.29
Yield (%) 3.09 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

th
August 26 , 1953.
In accordance with to latest amandment of the articles of association mentioned above,

the company's aims and objectives are to take part in construction business industry,
fabrication industry, rental service, agency, investment, agro industry, engineering
procurement and constructions (EPC), trades, site area management services,
enhancement in construction capability services, information technology, tourism, hotel
business service, engineering and planning service, development services to produce high
quality and highly competitive goods and/or services, and to generate profit to add value
to the entity by applying limited liability company principles.
The current business activities of the Company are in construction services, real estate
(developer), properties and investment in infrastructure and energy.
To increase value to the Company, the management adopts a corporate strategies on the
basis of four business pillars: construction, EPC (Energy, Oil & Gas), investment and
property. To achieve the goals, the Company adopted the Companys vision "PT PP
(Persero) Vision".
This vision shall become strategic guidelines in facing future challenge, which is To
become a leading construction and investment company which provides high added value
to all of its stakeholder.
st
As of December 31 , 2013 the Company had 1,619 employees.
JANUARY 2014
Disclaimer:

PTPP PP (Persero) Tbk. [S]
99 | 6.54T | 0.15% | 86.96%
50 | 5.82T | 0.53% | 74.97%

Established Date : 26-Aug-1953 1. Negara Republik Indonesia 2,469,642,760 : 51.00%
Listing Date : 09-Feb-2010 2. Koperasi Karyawan Pemegang Saham PT PP (KKPSPP) 262,112,000 : 5.41%
PT Mandiri Sekuritas
PT DBS Vickers Securities Indonesia Bonus Cash Recording Payment
F/I
PT BSR Indonesia 2009 10.11 09-Jul-10 12-Jul-10 14-Jul-10 28-Jul-10 F
Komplek Perkantoran ITC Roxy Mas Blok E1 No. 10 - 11 2010 14.57 07-Jul-11 08-Jul-11 12-Jul-11 15-Jul-11 F
Jln. K.H. Hasyim Ashari Jakarta 10150 2011 14.88 07-Jun-12 08-Jun-12 12-Jun-12 15-Jun-12 F
Phone : (021) 631-7828 2012 19.19 22-May-13 23-May-13 27-May-13 10-Jun-13 F
Fax : (021) 631-7827 2013 26.06 21-Apr-14 22-Apr-14 24-Apr-14 07-May-14 F

1. Djoko Murjanto Listing Trading
2. Daryatno *) No. Type of Listing Shares Date Date
3. Eddy Purwanto 1. Negara RI (Seri A) 1 09-Feb-10 00-Jan-00
4. Husein Thaib *) 2. Penawaran Umum 1,038,976,500 09-Feb-10 09-Feb-10
5. Timbul Tambunan 3. Company Listing 2,469,642,759 09-Feb-10 09-Feb-10
*) Independent Commissioners 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. Tumiyana
AUDIT COMMITTEE
1. Daryatno
2. Handoko Tripriyono
3. Sularso
CORPORATE SECRETARY
Taufik Hidayat
HEAD OFFICE
Plaza PP - Wisma Subiyanto
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 - January 2014 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
1,800 240 Feb-10 610 550 580 6,099 494,929 275,615 13
Mar-10 690 570 660 6,888 524,009 315,336 22
1,575 210 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
1,350 180
Jul-10 800 680 770 5,831 599,048 437,120 22
Aug-10 810 740 780 4,489 407,952 314,682 21
1,125 150
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
900 120
Nov-10 920 840 850 3,453 210,723 180,540 21
Dec-10 860 720 800 4,906 208,743 167,544 20
675 90
Jan-11 820 630 630 6,962 240,500 172,143 21
450 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
225 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
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 - January 2014
270% Jan-12 610 475 570 8,204 288,312 152,115 21
Feb-12 680 550 640 6,652 326,259 195,562 21
225% Mar-12 670 600 630 4,896 200,951 127,218 21
Apr-12 720 610 700 8,208 485,613 319,004 20
180% May-12 760 590 600 7,221 384,823 258,898 21
Jun-12 620 530 610 3,859 201,669 108,323 21
135% 136.5% Jul-12 650 580 600 2,427 210,891 127,057 22
132.8%
Aug-12 680 550 570 4,330 253,171 158,175 19
Sep-12 760 570 730 5,160 320,054 215,131 20
90%
77.5% Oct-12 800 690 770 12,027 642,556 477,385 22
Nov-12 930 740 930 10,295 519,428 423,177 20
45%
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
-45% 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
-90% May-13 1,750 1,410 1,750 24,287 727,035 1,131,154 22
Feb 10 Feb 11 Feb 12 Feb 13 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 Jan-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 8,579 348 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 10,203 443 Nov-13 1,350 1,100 1,150 19,864 372,873 448,996 20
Frequency (Thou. X) 61 86 85 318 18 Dec-13 1,250 1,110 1,160 17,127 421,327 489,944 19
Days 219 247 246 244 20
Jan-14 1,370 1,105 1,350 18,040 347,504 443,365 20
Price (Rupiah)
High 1,030 820 950 1,780 1,370
Low 550 265 475 760 1,105
Close 800 485 830 1,160 1,350
Close* 800 485 830 1,160 1,350
PER (X) 19.21 9.78 12.98 19.29 22.45

PER Industry (X) 9.97 11.09 17.34 17.79 16.27
PBV (X) 3.07 1.65 2.43 3.15 3.67

Public Accountant : Soejatna, Mulyana & Rekan
Cash & Cash Equivalents 446,262 959,609 1,306,110 1,303,124 2,396,802 12,500
Receivables 979,199 2,051,473 1,284,675 1,633,937 2,187,005

1,275,007 1,509,428 1,586,309 1,565,642 177,419 10,000
Inventories
Investment 28,259 287,389 243,697 222,844 289,598
7,500
Fixed Assets 78,862 77,127 75,997 72,775 141,882
Other Assets - - - -
5,000
Total Assets 4,125,551 5,444,074 6,933,354 8,550,851 12,415,669
Growth (%) 31.96% 27.36% 23.33% 45.20% 2,500
Bank Payable 480,056 912,003 1,115,578 836,766 -

Trade Payable 2,153,988 2,384,646 3,463,503 4,243,610 6,300,346 2009 2010 2011 2012 2013
Growth (%) 16.90% 31.70% 25.18% 51.28%
Paid up Capital 380,346 484,244 484,244 484,244 484,244 1,985
1,656
1,425
Par Value 100 100 100 100 100
1,580
1,262
Retained Earnings 167,661 315,433 479,030 709,439 1,037,220
1,175
Total Equity 548,007 1,261,843 1,425,440 1,655,849 1,984,747

Growth (%) 130.26% 12.96% 16.16% 19.86%
548
770
Total Revenues 4,203,313 4,401,229 6,231,898 8,003,873 11,655,844

Growth (%) 4.71% 41.59% 28.43% 45.63%
-40
2009 2010 2011 2012 2013
Cost of Revenues 3,860,773 3,983,232 5,526,136 7,149,367 10,382,923

Gross Profit 466,649 514,624 785,922 854,505 1,272,922
Growth (%) 6.60% 66.99% 8.53% 51.01%

11,656
8,004
9,278

6,232
Tax 107,120 125,018 178,253 235,709 346,170 4,203 4,401

4,522
Growth (%) 23.51% 19.13% 28.91% 35.86%

2,145
Dividend (Rp) 10.11 14.57 14.88 19.19 26.06
421
EPS (Rp) 42.92 41.64 49.61 63.95 86.88
BV (Rp) 144.08 260.58 294.36 341.95 409.87
310
DAR (X) 0.87 0.77 0.79 0.81 0.84 335
DER(X) 6.53 3.31 3.86 4.16 5.26 240

3.96 3.70 3.46 3.62 3.39 202
249
ROA (%)
163
ROE (%) 29.79 15.98 16.85 18.70 21.20 163
GPM (%) 11.10 11.69 12.61 10.68 10.92

OPM (%) 8.75 8.91 10.51 8.88 9.21 77
NPM (%) 3.88 4.58 3.85 3.87 3.61

Payout Ratio (%) 23.55 34.99 30.00 30.01 30.00
-8
2009 2010 2011 2012 2013

Yield (%) - 1.82 3.07 2.31 2.25

COMPANY REPORT
PWON
PAKUWON JATI TBK.
Company Profile

PTPakuwonJatiTbk.isadiversifiedrealestatedeveloperfocusedinJakartaandSurabaya.
The Company's portfolio of prime properties includes retail, residential, commercial and
hospitalitydevelopments

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,marketingandoperationalmanagement.

BasedonCompanysArticleofAssociations,theCompanyisengagedinbusiness:
1) ShoppingcenternamedasTunjunganPlaza
2) BusinesscenternamedasMenaraMandiri
3) FiveStarHotelsnamedasSheratonSurabayaHotelandTowers,also
4) Real estate business Pakuwon City (formerly Laguna Indah Housing) and industrial
estate (which has not operated and will change to residential estate), all located in
Surabaya.

TheCompanyhasdirectandindirectownershipinsubsidiaries:
1) PTArtisanWahyu,
2) PTElitePrimaHutama,
3) PTPakuwonSentraWisata,
4) PTPakuwonRegency,and
5) PTGramaPramesiSiddhi.

January 2014
Disclaimer:

PWON Pakuwon Jati Tbk. [S]
52 | 14.8T | 0.34% | 75.98%
47 | 6.39T | 0.58% | 73.32%

Established Date : 20-Sep-1982 1. Burgami Investments Limited 10,063,591,200 : 20.00%
Listing Date : 09-Oct-1989 2. JPMBLSA Re:JPMIB - PT Pakuwon Ar 6,080,129,840 : 12.00%
Under Writer IPO : 3. Concord Media Investment Ltd 3,556,800,000 : 7.00%
PT Danareksa (Persero) 4. Raylight Investments Limited 3,441,204,000 : 7.00%
PT Aseam Indonesia 5. Public (<5%) 25,017,877,360 : 54.00%
PT Inter-Pacific Financial Corporation
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 1990 50.00 08-Jun-90 11-Jun-90 15-Jun-90 22-Jul-90
Phone : (021) 314-0032, 390-5920, 390-0645 1991 75.00 28-Feb-91 01-Mar-91 08-Mar-91 08-Apr-91
Fax : (021) 390-0671, 390-0652 1991 30.00 10-Jun-92 12-Jun-92 19-Jun-92 20-Jul-92 F
1992 2:1 23-Nov-92 24-Nov-92 01-Dec-92 23-Dec-92
BOARD OF COMMISSIONERS 1992 25.00 09-Aug-93 10-Aug-93 18-Aug-93 18-Sep-93 F
1. Alexander Tedja 1993 25.00 12-Jul-94 13-Jul-94 20-Jul-94 19-Aug-94 F
2. Agus Soesanto *) 1994 20.00 05-Jul-95 06-Jul-95 14-Jul-95 11-Aug-95 F
3. Dyah Pradnyaparamita Duarsa *) 1995 17.50 30-May-96 31-May-96 10-Jun-96 08-Jul-96 F
*) Independent Commissioners 1996 25.00 27-Jun-97 30-Jun-97 08-Jul-97 06-Aug-97 F
2011 1.45 09-Oct-12 10-Oct-12 12-Oct-12 25-Oct-12 F
BOARD OF DIRECTORS 2012 3.50 08-Oct-13 09-Oct-13 11-Oct-13 25-Oct-13 F
1. Richard Adisastra
2. Alexander Stefanus Ridwan Suhendra ISSUED HISTORY
3. Eiffel Tedja Listing Trading
4. Irene Tedja No. Type of Listing Shares Date Date
5. Minarto 1. First Issue 3,000,000 09-Oct-89 09-Oct-89
6. Sutandi Purnomosidi 2. Company Listing 17,000,000 09-Oct-89 09-Oct-89
7. Wong Boon Siew Ivy 3. Right Issue 50,000,000 01-Oct-91 01-Oct-91
4. Bonus Shares 35,000,000 24-Dec-92 24-Dec-92
AUDIT COMMITTEE 5. Right Issue 5,000 18-Jul-94 29-Jul-94
1. Agus Soesanto 6. Right Issue 4,300 18-Jul-94 05-Aug-94
2. Antonius Susanto 7. Right Issue 6,500 18-Jul-94 10-Aug-94
3. Lisawati 8. Right Issue 21,625 18-Jul-94 11-Aug-94
9. Right Issue 30,450 18-Jul-94 16-Aug-94
CORPORATE SECRETARY 10. Right Issue 1,650 18-Jul-94 19-Aug-94
Minarto 11. Right Issue 20,500 18-Jul-94 19-Aug-94
12. Right Issue 20,078,445 18-Jul-94 24-Aug-94
HEAD OFFICE 13. Right Issue 9,804,048 18-Jul-94 30-Aug-94
EastCoast Center 5th Fl. 14. Right Issue 74,483,629 18-Jul-94 31-Aug-94
Pakuwon Town Square - Pakuwon City 15. Right Issue 543,853 18-Jul-94 01-Sep-94
Jln. Kejawan Putih Mutiara No. 17, Surabaya 16. Stock Split 210,000,000 29-Jan-96 29-Jan-96
Phone : (031) 582-08788 17. Add. Listing without RI 247,000,000 03-Feb-06 03-Feb-06
Fax : (031) 582-08798 18. Add. Listing without RI (canceled) -247,000,000 20-Mar-06 20-Mar-06
19. CB Conversion 22,705,000 21-Mar-06 21-Mar-06
Homepage : www.pakuwon.com 20. CB Conversion 224,295,000 27-Mar-06 27-Mar-06
Email : pwonjati@yahoo.com 21. CB Conversion 876,577,000 08-Aug-06 08-Aug-06
minarto@pakuwon.com 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
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% Apr-12 210 196 205 14,165 384,695 77,176 20
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
149.6%
145.0% 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
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
71.6%
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
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 Jan-14 Aug-13 390 240 290 26,014 1,402,520 447,531 17
Volume (Million Sh.) 3,180 2,148 11,909 26,640 976 Sep-13 310 250 285 38,823 1,910,635 551,184 21
Value (Billion Rp) 2,457 1,921 3,536 8,934 299 Oct-13 320 260 310 41,350 1,643,983 475,042 21
Frequency (Thou. X) 184 137 218 480 49 Nov-13 315 250 250 26,908 1,219,425 331,106 20
Days 245 247 246 244 20 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 1,100 880 430 340
Low 490 670 170 220 261
Close 900 750 225 270 307
Close* 217 188 225 270 307
PER (X) 33.01 19.88 14.14 10.90 12.39

PER Industry (X) 9.97 11.09 17.34 17.79 16.27
PBV (X) 6.32 3.17 3.46 3.37 3.83

Cash & Cash Equivalents 200,607 312,956 621,021 1,315,146 2,126,206 10,000
Receivables 44,965 123,814 116,796 138,509 166,915

2,486 2,927 3,121 1,262,136 1,051,081 8,000
Inventories
Investment - 1,996,240 2,033,472 216 268,531
6,000
Fixed Assets 1,559,360 736,173 1,659,292 844,548 673,096
Other Assets - - 14 11 11
4,000
Total Assets 3,476,870 3,937,326 5,744,711 7,565,820 9,298,245
Growth (%) 13.24% 45.90% 31.70% 22.90% 2,000
Bank Payable - 1,085,338 1,925,967 1,764,389 -

Trade Payable 77,956 13,615 65,241 33,929 54,754 2009 2010 2011 2012 2013
Growth (%) 6.18% 42.34% 31.43% 17.25%
Paid up Capital 1,003,325 1,003,325 1,203,990 1,203,990 1,203,990 4,103

Par Value 100 100 100 25 25
3,266
Retained Earnings 147,222 425,732 667,748 1,345,905 2,310,166 2,373

2,429
Total Equity 1,150,547 1,429,058 2,373,135 3,134,536 4,102,509

Growth (%) 24.21% 66.06% 32.08% 30.88% 1,429
1,151
1,592
Total Revenues 697,388 1,228,008 1,478,105 2,165,397 3,029,797

Growth (%) 76.09% 20.37% 46.50% 39.92%
-82
2009 2010 2011 2012 2013
Cost of Revenues 434,073 663,998 743,405 931,477 1,264,879

Gross Profit 263,315 564,010 734,700 1,233,920 1,764,919
Operating Profit 204,931 468,872 469,871 - - 3,030
3,030
Growth (%) 128.80% 0.21%

2,412
2,165
Other Income (Expenses) -1,825 -83,319 - - -
Income before Tax 203,106 385,552 469,871 901,105 1,331,192 1,794
1,478
Tax 47,439 67,822 91,339 -134,609 194,644 1,228
1,176
697
Growth (%) 103.34% 19.59% 102.49% 48.28%
557
Period Attributable 155,666 272,358 346,859 747,989 1,132,820 -61
Comprehensive Attributable - 272,358 346,859 747,989 1,132,820
Dividend (Rp) - - 1.45 3.50 -
1,137
EPS (Rp) 15.52 27.15 28.81 15.53 23.52 1,137
BV (Rp) 114.67 142.43 197.11 65.09 85.19

DAR (X) 0.64 0.60 0.59 0.59 0.56 905
766
DER(X) 1.94 1.66 1.42 1.41 1.27
673
ROA (%) 4.48 8.04 6.59 10.13 12.22

ROE (%) 13.53 22.15 15.95 24.45 27.70 379
317
441
GPM (%) 37.76 45.93 49.71 56.98 58.25

156
OPM (%) 29.39 38.18 31.79 - - 209
NPM (%) 22.32 25.78 25.61 35.40 37.51

Payout Ratio (%) - - 5.03 22.53 -
-23
2009 2010 2011 2012 2013

Yield (%) - - 0.19 1.56 -

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SEMEN INDONESIA (PERSERO) TBK.
Company Profile
PT Semen Indonesia (Persero) Tbk. was established on March 25th, 1953. The scope of
activitiesoftheCompanyinaccordancewiththeArticlesofAssociationandbeingcarried
outduringthereportingperiodistoengageinthecementindustry.TheCompanysandits
subsidiariescementplantsarelocatedinGresikandTubaninEastJava,IndarunginWest
Sumatera,PangkepinSouthSulawesiandQuangNinhinVietnam.

AsofDecember31st,2013,theCompanyanditssubsidiarieshad6,971employees.

The subsidiaries of the company are established as Strategic Tools, in order to give the
maximumcontributions.Inaddition,theirexistenceisexpectedtoincurbeneficialsynergy
inordertoachievethepurposeinaccordancewiththestipulatedcorebusiness.Beloware
thesubsidiariesofthecompany:
PTSemenPadang,
PTSepatimBatamtama,
PTBimaSepajaAbadi,
PTSemenTonasa,
PTUnitedTractorsSemenGresik,
PTIndustriKemasanSemenGresik,
PTKawasanIndustriGresik,
PTSGGEnergiPrima,
PTSGGPrimaBeton,
ThangLongCementJointStockCompany,
ThangLongCementJointStockCompany2,
AnPhuCementJointStockCompany

TheCompanyhasseveralawardsin2013:GoldProperAward2013,IndonesiaSustanibility
Reporting Awards 2013 from National Centre for Sustainability Reporting, Indonesia CSR
Award 2013, Anugerah BUMN 2013, PT Semen Indonesia (Persero) Tbk. awarded
Champion SOE category Best Manufacturing Competitiveness and President Director
awardedasBestofManagementFeeCategory,etc.
January 2014
Disclaimer:

SMGR Semen Indonesia (Persero) Tbk. [S]
Industry Sub Sector : Cement (31) Market Capitalization : 84,227,584,000,000
9 | 84.2T | 1.94% | 42.55%
7 | 28.8T | 2.61% | 29.05%

Established Date : 25-Mar-1953 1. Pemerintah RI QQ Menteri Keuangan RI 3,025,406,000 : 51.01%
Under Writer IPO :
PT Buanamas Investindo DIVIDEND ANNOUNCEMENT
PT Ficorinvest Bonus Cash Recording Payment
F/I
PT Indovest Securities Year Shares Dividend Cum Date Ex Date Date Date
PT Merchant Investment Corporation 1991 284.70 12-Jun-92 15-Jun-92 22-Jun-92 13-Jul-92 F
PT Multicor 1992 267.75 14-Jun-93 15-Jun-93 24-Jun-93 22-Jul-93 F
PT Nikko Securities Indonesia 1993 164.18 13-Jul-94 14-Jul-94 21-Jul-94 19-Aug-94 F
PT Nomura Indonesia 1994 184.51 03-Jul-95 04-Jul-95 12-Jul-95 11-Aug-95 F
PT Primarindo Daya Investama 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
Wisma Sudirman - Puri Datindo 1998 135.06 13-Jul-99 14-Jul-99 22-Jul-99 20-Aug-99 F
Phone : (021) 570-9009 2000 231.14 05-Jul-01 06-Jul-01 13-Jul-01 20-Jul-01 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 ISSUED HISTORY
7. Suparni Listing Trading
AUDIT COMMITTEE 1. First Issue 40,000,000 08-Jul-91 08-Jul-91
1. Hadi Waluyo 2. Partial Listing 30,000,000 08-Jul-91 17-May-92
2. Achmad Jazidie 3. Company Listing 78,288,000 02-Jun-95 02-Jun-95
3. Sahat Pardede 4. Right Issue 444,864,000 10-Aug-95 10-Aug-95
4. Elok Tresnaningsih 5. Stock Split 5,338,368,000 07-Aug-07 07-Aug-07
CORPORATE SECRETARY
Agung Wiharto
HEAD OFFICE
Gedung Utama Semen Gresik
Jln. Veteran
Gresik - 61122
Phone : (021) 526-1174 - 5, (031) 398-1731 - 2
Fax : (021) 526-1176, (031) 398-3209
Homepage : www.semengresik.com
Email : corp.sec@sg.sggrp.com
agungw@sg.sggrp.com

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
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
May-12 12,400 10,400 10,950 23,702 217,770 2,436,384 21
100% Jun-12 11,650 9,900 11,300 24,678 150,083 1,665,904 21
86.8% Jul-12 13,600 11,250 12,950 25,606 178,845 2,139,748 22
86.2% Aug-12 13,500 11,700 12,400 24,809 148,524 1,869,739 19
75%
71.6% 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 20 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 15,900
Low 7,250 7,250 9,900 11,350 13,775
Close 9,450 11,450 15,850 14,150 14,200
Close* 9,450 11,450 15,850 14,150 14,200
PER (X) 15.43 17.15 19.09 16.11 16.17

PER Industry (X) 12.86 10.41 9.79 17.44 13.29
PBV (X) 4.67 4.65 5.18 4.24 4.25

Receivables 1,439,816 1,764,284 1,864,177 2,522,529 2,916,062

1,407,578 1,624,219 2,006,660 22,849,053 2,645,893 25,000
Inventories
Current Assets 8,207,041 734,360 7,646,145 8,231,297 9,972,110
18,750
Fixed Assets 4,014,143 7,662,560 11,640,692 16,794,115 18,862,518
Other Assets 17,462 17,202 18,029 54,223 224,136
12,500
Total Assets 12,951,308 15,562,999 19,661,603 26,579,084 30,792,884
Growth (%) 20.17% 26.34% 35.18% 15.85% 6,250

Growth (%) 30.00% 47.42% 66.73% 6.83%
Paid up Capital 593,152 593,152 593,152 593,152 593,152 21,804
18,165
Par Value 100 100 100 100 100
17,356
14,615
12,908
Total Equity 10,197,679 12,006,439 14,615,097 18,164,855 21,803,976 10,198
Growth (%) 17.74% 21.73% 24.29% 20.03% 8,460
Total Revenues 14,387,850 14,344,189 16,378,794 19,598,248 24,501,241

Growth (%) -0.30% 14.18% 19.66% 25.02%
-436
2009 2010 2011 2012 2013
Cost of Revenues 7,613,709 7,534,079 8,891,868 10,300,667 13,557,147

Gross Profit 6,774,141 6,810,110 7,486,926 9,297,581 10,944,094
Expenses (Income) 2,431,578 2,321,085 2,594,794 3,116,058 4,023,694
Operating Profit 4,342,563 4,489,025 4,892,131 6,181,524 - 24,501
24,501
Growth (%) 3.37% 8.98% 26.36%

19,598
19,503
16,379
Other Income (Expenses) 301,714 224,358 197,821 105,931 -
14,388 14,344
Tax 1,302,433 1,063,509 1,134,680 1,360,814 1,566,101

9,506
Growth (%) 9.14% 8.09% 24.56% 8.68%

4,508
Current Ratio (%) 357.63 29.17 264.65 170.59 188.24
5,354
Dividend (Rp) 308.45 306.26 330.89 367.74 407.42 5,354
4,927
EPS (Rp) 565.24 612.53 661.79 817.20 905.37
3,955
BV (Rp) 1,719.24 2,024.18 2,463.97 3,062.43 3,675.95 4,262
3,659
3,353
DAR (X) 0.20 0.22 0.26 0.32 0.29
3,170
DER(X) 0.26 0.29 0.35 0.46 0.41

ROA (%) 25.89 23.51 20.12 18.54 17.39 2,077
ROE (%) 32.88 30.48 27.06 27.12 24.56

GPM (%) 47.08 47.48 45.71 47.44 44.67 985
OPM (%) 30.18 31.30 29.87 31.54 -

NPM (%) 23.30 25.51 24.15 25.14 21.85
-107
2009 2010 2011 2012 2013

Payout Ratio (%) 54.57 50.00 50.00 45.00 45.00
Yield (%) 4.09 3.24 2.89 2.32 2.88

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SUMMARECON AGUNG TBK.
Company Profile
PT Summarecon Agung Tbk. was founded in 1975 by Mr. Soetjipto Nagaria and his
associates to undertake real estate construction and development. Starting with a 10
hectare of marsh land in the then backwaters of Jakarta, the founders managed to
transformthislocationofKelapaGadingintooneofthemostaffluentareasinJakarta.And
overtheyearsSummareconhasbuiltareputationasoneoftheleadingpropertyplayersin
Indonesia,especiallyinthedevelopmentoftownships.

TheCompanysheadofficeislocatedatPlazaSummarecon,Jln.PerintisKemerdekaanNo.
42,Jakarta.

TheCompanyhasneteffectivedirectandindirectownershipinsubsidiariesasfollows:
PTSerpongCiptaKreasi,
PTLestariMahadibya,
PTGadingOrchard,
PTCitraDamaiAgung,
PTUnotaPersadajaya,
PTBahagiaMakmursejati,
PTMakmurOrientJaya,
PTSummareconHotelindo,
PTOrientCity,
PTEskageTatananKota,
PTSummervillePropertyManagement,
PTSummbangtriKreasiPersada,
PTSummareconBaliIndah,
PTJayaBangunAbadi,
PTBaktiKaryaVita.

TheCompanyandsubsidiarieshad1,770permanentemployeesasofDecember31th,2013.
January 2014
Disclaimer:

SMRA Summarecon Agung Tbk. [S]
55 | 13.8T | 0.32% | 76.96%
54 | 5.26T | 0.48% | 76.99%

Established Date : 26-Nov-1975 1. PT Semarop Agung 1,855,985,872 : 12.00%
Listing Date : 07-May-1990 2. PT Semarop Agung 1,812,802,632 : 12.00%
Under Writer IPO : 3. PT Sinarmegah Jayasentosa 942,080,224 : 6.00%
PT Danareksa Sekuritas 4. MEL BK NA S/A Stichting Dep Ap 810,000,000 : 5.00%
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 1994 2:1 16-Feb-94 17-Feb-94 24-Feb-94 23-Mar-94
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 1997 100 : 3 28-Jul-97 29-Jul-97 06-Aug-97 04-Sep-97
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. Esther Melyani Homan 2010 10.00 28-Jun-11 30-Jun-11 04-Jul-11 18-Jul-11 F
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
Michael Yong ISSUED HISTORY
Listing Trading
HEAD OFFICE No. Type of Listing Shares Date Date
Jln. Perintis Kemerdekaan No. 42 1. First Issue 6,667,000 07-May-90 07-May-90
Jakarta Timur 2. Partial Listing 16,666,700 26-Jan-94 26-Jan-94
Phone : (021) 489-2107, 471-4567 3. Bonus Shares 11,282,833,556 T: 24-Mar-94 : 15-Jul-13
Fax : (021) 489-2976, 471-4486 4. Stock Dividend 6,000,000 12-Sep-94 12-Sep-94
5. Company Listing 64,999,300 17-Jan-95 17-Jan-95
Homepage : www.summarecon.com 6. Stock Dividen 50,345,760 T: 19-Aug-96 : 02-Aug-02
Email : corp_secretary@summarecon.com 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
Property, Real Estate and Bulding Construction Index Nov-11 1,200 990 1,060 2,210 86,134 96,826 22
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
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
235.1% Jul-12 1,700 1,530 1,620 7,648 137,647 221,865 22
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
149.6% 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
Dec-12 2,100 1,820 1,900 11,641 180,261 349,136 18
65% 71.6%
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
SHARES TRADED 2010 2011 2012 2013 Jan-14 Aug-13 1,070 660 780 27,271 870,003 779,300 17
Volume (Million Sh.) 3,511 1,838 2,879 6,799 485 Sep-13 1,050 690 930 29,817 1,024,278 909,108 21
Value (Billion Rp) 3,108 1,996 4,594 9,117 434 Oct-13 1,140 880 1,050 30,037 896,981 898,351 21
Frequency (Thou. X) 86 74 109 262 28 Nov-13 1,080 780 900 19,911 566,805 507,534 20
Days 245 247 246 244 20 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 3,050 980
Low 570 840 1,100 660 745
Close 1,090 1,240 1,900 780 955
Close* 545 620 950 780 955
PER (X) 32.09 21.93 17.30 9.59 11.74

PER Industry (X) 9.97 11.09 17.34 17.79 16.27
PBV (X) 3.50 3.44 3.59 2.57 3.15

Cash & Cash Equivalents 633,169 1,120,483 1,495,901 2,427,999 2,544,845 13,750
Receivables 136,159 216,974 82,776 138,931 275,967

712,901 1,308,433 2,741,082 2,819,764 3,058,266 11,000
Inventories
Investment 12,085 1,282,418 1,929,125 3,699 284,282
8,250
Fixed Assets 308,637 379,106 304,427 282,418 351,832
Other Assets 100,817 118,369 254,769 - 67,756
5,500
Total Assets 4,460,277 6,139,640 8,099,175 10,876,387 13,659,137
Growth (%) 37.65% 31.92% 34.29% 25.59% 2,750
Bank Payable - - 841,780 822,823 1,911,032 -

Trade Payable 62,785 181,665 246,765 184,225 63,235 2009 2010 2011 2012 2013
Growth (%) 45.57% 41.18% 25.59% 27.48%
Paid up Capital 643,680 687,314 687,314 721,339 1,442,678 4,658
Par Value 100 100 100 100 100

3,708

2,757
Total Equity 1,717,777 2,139,887 2,477,100 3,815,400 4,657,667 2,140

1,718
Growth (%) 24.57% 15.76% 54.03% 22.08% 1,807
Total Revenues 1,197,693 1,695,444 2,359,331 3,463,163 4,093,789

Growth (%) 41.56% 39.16% 46.79% 18.21%
-93
2009 2010 2011 2012 2013
Cost of Revenues 593,272 947,778 1,312,185 1,871,176 1,943,287

Gross Profit 604,420 747,666 1,047,145 1,591,987 2,150,503
4,094
Growth (%) 18.62% 49.47% 79.09% 33.26% 3,463

3,259

2,359
Tax 74,793 109,574 142,209 194,309 223,537 1,695

1,588
1,198
Growth (%) 39.32% 65.88% 103.77% 38.35%

753
Period Attributable 168,203 233,478 392,019 797,814 1,102,177 -82
Comprehensive Attributable - 233,478 392,019 787,814 1,102,177
Dividend (Rp) 8.00 10.00 23.00 43.00 -
1,096
EPS (Rp) 26.13 33.97 57.04 110.60 76.40 1,096
BV (Rp) 266.87 311.34 360.40 528.93 322.85

792
DAR (X) 0.61 0.65 0.69 0.65 0.66 872
DER(X) 1.59 1.86 2.27 1.85 1.93

649
ROA (%) 3.77 3.82 4.80 7.28 8.02

ROE (%) 9.79 10.95 15.69 20.76 23.53 389
425
GPM (%) 50.47 44.10 44.38 45.97 52.53 234

168
OPM (%) 26.58 22.27 23.93 29.19 32.91 202
NPM (%) 14.04 13.82 16.48 22.87 26.77

Payout Ratio (%) 30.61 29.44 40.33 38.88 -
-22
2009 2010 2011 2012 2013

Yield (%) 1.33 0.92 1.85 2.26 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
SSIA
SURYA SEMESTA INTERNUSA TBK.
Company Profile
PT Surya Semesta Internusa Tbk. was established at June 15th, 1971. The scope of
companys activities especially engaged in industry, trade, construction, agriculture, mining
and services, including establishing a company in the field of building material, real estate,
industrial area, building management, and others.
Currently, the Company activities engaged in investing and providing management services
and training to subsidiaries that specializes in field of develop/manage industrial area, real
estate, construction services, hospitality and others.
The Company has direct ownership in subsidiaries:

PT Suryacipta Swadaya,
PT TCP Internusa,
PT Enercon Paradhya International,
PT Karsa Sedaya Sejahtera,
PT Sitiagung Makmur,
PT Suryalaya Anindita International, and
PT Surya Internusa Hotel.
January 2014
Disclaimer:

SSIA Surya Semesta Internusa Tbk. [S]
165 | 3.15T | 0.07% | 94.10%
30 | 8.66T | 0.78% | 61.85%

Established Date : 15-Jun-1971 1. PT Arman Investments Utama 387,847,976 : 8.00%
Listing Date : 27-Mar-1997 2. HSBC-Singapore Branch Private Banking Division 259,563,000 : 6.00%
PT Aspac Uppindo Sekuritas
PT Usaha Bersama Sekuritas DIVIDEND ANNOUNCEMENT
F/I
PT Sinartama Gunita Year Shares Dividend Cum Date Ex Date Date Date
Plaza BII Menara 1, 9th Fl. 2011 4.50 14-Nov-11 15-Nov-11 17-Nov-11 01-Dec-11 I
Jln. M.H. Thamrin No. 51 Jakarta 10350 2011 6.50 12-Jun-12 13-Jun-12 15-Jun-12 29-Jun-12 F
Phone : (021) 392-2332 2012 30.00 10-May-13 13-May-13 15-May-13 29-May-13 F
Fax : (021) 392-3003
ISSUED HISTORY
1. Hagianto Kumala *) No. Type of Listing Shares Date Date
2. Marseno Wirjosaputro *) 1. First Issue 135,000,000 27-Mar-97 27-Mar-97
3. Royanto Rizal 2. Company Listing 540,000,000 27-Mar-97 06-Nov-97
4. Steen Dahl Poulsen 3. CB Conversion 64,611,500 27-Mar-97 06-Nov-97
5. William Jusman 4. Additional Listing without RI 209,027,500 02-Dec-05 02-Dec-05
*) Independent Commissioners 5. Right Issue 227,673,360 29-Jul-08 29-Jul-08
6. Stock Splits 3,528,937,080 07-Jul-11 07-Jul-11
BOARD OF DIRECTORS
1. Johannes Suriadjaja
2. Eddy Purwana Wikanta
3. Herman Gunadi (Not Affiliated)
4. The Jok Tung
AUDIT COMMITTEE
1. Marseno Wirjosaputro
2. Irwan Setia
3. Kardinal Alamsyah Karim
CORPORATE SECRETARY
Eddy Purwana Wikanta
HEAD OFFICE
Tempo Scan Lt. 5, Jln. H.R. Rasuna Said Kav. 3-4
Kel. Kuningan Timur, Kec. Setiabudi
Jakarta - 12950
Phone : (021) 526-2121, 527-2121
Fax : (021) 526-7878
Homepage : www.suryainternusa.com
Email : eddy@nusarayacipta.com
inquiry@suryainternusa.com

TRADING ACTIVITIES
Surya Semesta Internusa Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
1,800 400 Jan-10 305 270 305 340 17,661 4,931 19
Feb-10 380 290 305 145 18,092 5,519 15
1,575 350 Mar-10 385 300 380 262 837 291 16
Apr-10 420 340 410 993 6,205 2,397 20
May-10 420 300 390 71 1,191 452 15
1,350 300
Jun-10 430 300 390 96 49,107 19,591 14
Jul-10 450 350 440 65 2,643 1,047 9
1,125 250
Aug-10 450 350 445 52 399 158 11
Sep-10 510 360 495 292 2,566 1,137 12
900 200
Oct-10 640 405 560 561 6,918 3,875 20
Nov-10 860 500 630 1,645 100,807 57,722 21
675 150 Dec-10 950 630 930 3,809 100,855 85,265 20
450 100 Jan-11 980 800 970 4,113 102,768 93,954 21

Feb-11 1,170 980 1,100 4,483 88,936 95,780 18
225 50 Mar-11 1,190 1,050 1,100 3,447 64,596 71,802 23
Apr-11 1,170 1,090 1,130 2,240 36,601 41,299 20
May-11 1,340 1,140 1,330 9,325 192,251 236,311 21
Jun-11 1,360 1,270 1,360 6,591 145,123 190,796 20
Jul-11 1,360 325 425 22,916 1,466,179 592,101 21
Aug-11 455 350 420 17,913 1,038,706 429,153 19
Sep-11 445 305 360 9,381 379,750 152,573 20
2,310%
Jan-12 950 700 900 24,858 1,276,553 1,080,662 21
1,980% Feb-12 970 850 910 13,839 793,419 722,019 21
Mar-12 1,060 850 1,020 16,068 842,729 779,174 21
1,650% Apr-12 1,200 1,000 1,200 18,889 840,011 927,503 20
May-12 1,230 870 910 26,196 976,408 1,031,839 21
1,320% Jun-12 1,040 800 980 19,350 792,516 744,115 21
Jul-12 1,160 990 1,150 20,473 677,361 727,907 22
Aug-12 1,210 1,070 1,170 14,030 335,388 382,269 19
990%
Sep-12 1,330 1,170 1,320 16,278 468,652 585,179 20
857.1%
Oct-12 1,310 1,100 1,180 28,219 859,806 1,018,759 22
660%
Nov-12 1,210 1,050 1,120 19,200 516,312 592,263 20
Dec-12 1,160 1,000 1,080 15,232 332,959 363,196 18
330%
149.6%
Jan-13 1,390 1,030 1,390 26,407 719,658 888,338 21
- 71.6% Feb-13 1,520 1,320 1,500 22,506 536,899 745,680 20
Mar-13 1,630 1,410 1,620 26,919 750,796 1,149,978 19
-330% Apr-13 1,620 1,500 1,580 21,899 379,354 592,354 22
Jun-13 1,650 1,190 1,300 35,142 705,415 953,651 19
Jul-13 1,330 900 940 34,962 653,844 707,779 23
SHARES TRADED 2010 2011 2012 2013 Jan-14 Aug-13 970 510 700 22,730 535,299 421,640 17
Volume (Million Sh.) 307 6,293 8,712 6,856 487 Sep-13 910 630 720 31,766 729,837 559,929 21
Value (Billion Rp) 182 3,246 8,955 7,921 321 Oct-13 900 690 800 25,811 657,119 518,704 21
Frequency (Thou. X) 8 121 233 308 27 Nov-13 830 700 730 13,379 234,917 178,699 20
Days 192 247 246 244 20 Dec-13 780 550 560 15,352 315,968 209,019 19
Price (Rupiah) Jan-14 750 540 670 27,480 486,609 321,249 20

High 950 1,360 1,330 1,660 750
Low 270 270 700 510 540
Close 930 720 1,080 560 670
Close* 233 720 1,080 560 670
PER (X) 9.46 12.42 6.87 4.07 4.86

PER Industry (X) 9.97 11.09 17.34 17.79 16.27
PBV (X) 1.26 2.82 3.04 1.09 1.31

Cash & Cash Equivalents 209,696 244,929 584,075 1,890,287 1,692,417 6,250
Receivables 358,543 453,313 619,991 383,348 698,778

5,359 6,464 8,262 163,816 458,902 5,000
Inventories
Investment 22,822 122,637 514,112 100,066 475,832
3,750
Fixed Assets 635,607 658,512 482,930 607,715 942,495
Other Assets - 907 8,794 14,023
2,500
Total Assets 2,235,442 2,382,642 2,937,938 4,854,633 5,814,435
Growth (%) 6.58% 23.31% 65.24% 19.77% 1,250
Bank Payable 518,562 466,117 623,786 505,025 -

Trade Payable 191,957 210,045 219,660 155,721 346,350 2009 2010 2011 2012 2013
Growth (%) 0.82% 21.55% 83.38% 0.55%
Paid up Capital 588,156 588,156 588,156 588,156 588,156 2,612

Par Value 500 500 125 125 125
2,079
1,670
Retained Earnings -117,305 -1,717 234,591 911,259 1,461,242
1,546
Total Equity 758,093 869,080 1,201,149 1,669,629 2,611,774 1,201
Growth (%) 14.64% 38.21% 39.00% 56.43% 869

1,013
758
Total Revenues 1,484,102 1,690,096 2,878,775 3,564,594 4,582,741

Growth (%) 13.88% 70.33% 23.82% 28.56%
-52
2009 2010 2011 2012 2013
Cost of Revenues 1,136,303 1,211,694 2,096,390 2,268,932 3,262,614

Gross Profit 347,799 478,402 782,385 1,295,662 1,320,128
Operating Profit 86,178 160,836 385,090 939,405 973,242 4,583
Growth (%) 86.63% 139.43% 143.94% 3.60%

4,583
3,565
3,648
Other Income (Expenses) 25,493 33,837 - -61,442 -66,313 2,879

Tax 58,648 55,536 106,914 139,345 160,313 1,690

1,484
1,778
Growth (%) 158.98% 98.24% 165.52% 1.08%

843
Dividend (Rp) - - 11.00 30.00 -
739 747
EPS (Rp) 46.06 98.26 54.72 150.31 146.89 747
BV (Rp) 644.47 738.82 255.28 354.84 555.08

DAR (X) 0.63 0.60 0.59 0.66 0.55 594
DER(X) 1.87 1.64 1.45 1.91 1.23

2.42 5.89 9.47 15.21 12.84
442
ROA (%)
278
ROE (%) 7.15 16.15 23.16 44.24 28.59 290
GPM (%) 23.43 28.31 27.18 36.35 28.81 140

OPM (%) 5.81 9.52 13.38 26.35 21.24 137
54
NPM (%) 3.65 8.30 9.66 20.72 16.29
Payout Ratio (%) - - 20.10 19.96 -
-15
2009 2010 2011 2012 2013

Yield (%) - - 1.53 2.78 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
TAXI
EXPRESS TRANSINDO UTAMA TBK.
Company Profile
PT Express Transindo Utama Tbk. was established at June 11th, 1981. The scope of companys
activities is mainly to engage in land transportation services.
Commercially started operational activities in April 1989 as a subsidiary company of Rajawali

Corpora, PT Express Transindo Utama Tbk. now one of the largest taxi operator in Indonesia,
providing taxi services and value added transporation business (VATB) services. With more
than 8,000 licensed taxi fleets and fully supported by more than 18,000 qualified drivers, we
are ready to service our customer with high quality services.
Providing land transport services to cater to all of customers needs, PT Express Transindo
Utama Tbk. offer regular, premium taxi, and Value Added Transport Business (consist of
premium rental services and bus rental services). PT Express Transindo Utama Tbk. has been
serving its basis in the Greater Jakarta area and has expanded to serve other major cities
including Medan, Surabaya, Semarang, Bandung, Bali, and Lombok.
As of December 31st, 2013 the Group had 1,889 and 1,507 employees, permanent and
contractual (unaudited).
January 2014
Disclaimer:

TAXI Express Transindo Utama Tbk. [S]
Industry Sub Sector : Transportation (74) Market Capitalization : 3,776,256,000,000
150 | 3.78T | 0.09% | 92.93%
41 | 7.11T | 0.64% | 69.73%

Established Date : 11-Jun-1981 1. PT Rajawali Corpora 1,094,310,000 : 51.00%
Under Writer IPO :
PT Mandiri Sekuritas DIVIDEND ANNOUNCEMENT
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
Phone : (021) 478-81515 (Hunting) ISSUED HISTORY
Fax : (021) 470-9697 Listing Trading
BOARD OF COMMISSIONERS 1. First Issue 1,051,280,000 02-Nov-12 02-Nov-12
1. Stephen K. Sulistyo 2. Company Listing 1,094,320,000 02-Nov-12 02-Nov-12
2. Darjoto Setyawan
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 - January 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
Nov-12 Feb-13 May-13 Aug-13 Nov-13
Closing Price*, Jakarta Composite Index (IHSG) and

Infrastructure, Utilities and Transportation Index
November 2012 - January 2014
245%
210%
198.3%
175%
140%
105%
70%
35%
4.9%
- 1.8%
-35%
Nov 12 Feb 13 May 13 Aug 13 Nov 13
SHARES TRADED 2012 2013 Jan-14

Volume (Million Sh.) 2,315 8,335 200
Value (Billion Rp) 1,664 10,490 323
Frequency (Thou. X) 28 161 9
Days 37 244 20
Price (Rupiah)
High 920 1,950 1,770
Low 570 750 1,410
Close 870 1,460 1,760
Close* 870 1,460 1,760
PER (X) 23.28 24.75 29.84

PER Industry (X) 17.53 18.40 18.52
PBV (X) 2.72 4.09 4.93

Cash & Cash Equivalents 149,732 315,528 2,250
Receivables 74,342 143,887

11,259 13,518 1,800
Inventories
Current Assets 543,098 596,730
1,350
Fixed Assets 1,162,216 1,393,331
Other Assets 5,044 3,903
900
Total Assets 1,782,788 2,137,040
Growth (%) 19.87% 450
Current Liabilities 373,180 575,015 -

Long Term Liabilities 722,783 764,874 2012 2013
Total Liabilities 1,095,963 1,339,888
Growth (%) 22.26%
Authorized Capital 540,000 540,000 797
Paid up Capital 214,560 214,560 797
687
Paid up Capital (Shares) 2,146 2,146
Par Value 100 100
635
Retained Earnings 150,208 261,175

472
Total Equity 686,825 797,152

Growth (%) 16.06% 309
Total Revenues 520,863 686,917

Growth (%) 31.88%
-16
2012 2013
Cost of Revenues 337,327 466,438

Gross Profit 183,536 220,479
Expenses (Income) 76,586 46,525
Operating Profit - - 687
687
Growth (%)
547
521
Other Income (Expenses) - -

Income before Tax 106,949 173,954 407
Tax -27,588 41,343

Profit for the period 79,362 132,611
267
Growth (%) 67.10%

126
Period Attributable 79,159 132,423 -14
Comprehensive Income 80,189 131,783 2012 2013

Comprehensive Attributable 79,987 131,596
Current Ratio (%) 145.53 103.78
133
Dividend (Rp) 10.00 - 133
EPS (Rp) 36.89 61.72

BV (Rp) 320.11 371.53 106
DAR (X) 0.61 0.63 79

79
DER(X) 1.60 1.68

ROA (%) 4.45 6.21 51
ROE (%) 11.55 16.64

GPM (%) 35.24 32.10 24
OPM (%) - -
NPM (%) 15.24 19.31
-3
2012 2013
Payout Ratio (%) 27.10 -
Yield (%) 1.15 -

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. (the Company) was established based on the
Notarial deed No. 14 dated 8 November 2004.
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
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.
January 2014
Disclaimer:

TBIG Tower Bersama Infrastructure Tbk.
Industry Sub Sector : Non Building Construction (75) Market Capitalization : 29,738,462,433,800
29 | 29.7T | 0.68% | 65.22%
70 | 4.09T | 0.37% | 83.70%

Established Date : 08-Nov-2004 1. PT Wahana Anugerah Sejahtera 1,451,015,336 : 30.25%
Listing Date : 26-Oct-2010 2. PT Provident Capital Indonesia 1,179,140,806 : 24.58%
Under Writer IPO : 3. JPMCC-SPO Partners II LP 242,107,700 : 5.05%
PT UBS Securities Indonesia 4. PT Indosat Tbk. 239,826,310 : 5.00%
PT Indo Premier Securities 5. Public (<5%) 1,684,436,047 : 35.12%
PT Datindo Entrycom DIVIDEND ANNOUNCEMENT
Wisma Sudirman - Puri Datindo Bonus Cash Recording Payment
F/I
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 Year Shares Dividend Cum Date Ex Date Date Date
Fax : (021) 570-9026 2013 60.00 18-Sep-13 19-Sep-13 23-Sep-13 03-Oct-13 I
2013 60.00 18-Sep-13 19-Sep-13 23-Sep-13 03-Oct-13 I
1. Edwin Soeryadjaya ISSUED HISTORY
2. Herry Tjahjana *) Listing Trading
3. Mustofa *) No. Type of Listing Shares Date Date
4. Wahyuni Bahar *) 1. First Issue 551,111,000 26-Oct-10 26-Oct-10
5. Winato Kartono 2. Company Listing 4,005,588,889 26-Oct-10 26-Oct-10
*) Independent Commissioners 3. Additional Listing without RI 239,826,310 30-Jul-12 30-Jul-12
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 Andi
CORPORATE SECRETARY
Helmy Yusman Santoso
HEAD OFFICE
Gedung Barclays House, Lt. 6
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
6,800 800 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
5,950 700 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

5,100 600
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
4,250 500
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
3,400 400
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
2,550 300 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
1,700 200 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
850 100 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
175% Sep-12 4,500 3,800 4,450 4,660 116,837 476,198 20
158.3% Oct-12 5,100 4,375 5,000 5,902 88,890 417,510 22
150% 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
125%
Jan-13 6,350 5,350 5,900 8,721 83,157 485,791 21
100% 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
75%
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
50%
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
25% 20.9% Sep-13 6,100 5,200 5,850 15,926 78,464 440,692 21
15.7%
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
-25%

Volume (Million Sh.) 1,467 1,136 2,610 2,054 78
Value (Billion Rp) 3,485 2,590 10,086 11,783 481
Frequency (Thou. X) 36 48 60 152 16
Days 45 247 246 244 20
Price (Rupiah)
High 3,300 2,725 6,150 6,650 6,500
Low 2,150 1,810 2,325 4,450 5,450
Close 2,500 2,375 5,700 5,800 6,200
Close* 2,500 2,375 5,700 5,800 6,200
PER (X) 34.87 21.89 33.28 25.29 27.04

PER Industry (X) 14.36 11.09 17.53 18.40 18.52
PBV (X) 5.31 4.00 6.44 6.90 7.38

Public Accountant : Tanubrata Sutanto Fahmi & Rekan (Member of BDO International Limited)
Cash & Cash Equivalents 1,047,454 499,552 507,253 647,186 18,750
Receivables 144,144 159,200 166,615 637,105

47,321 33,545 228,771 328,078 15,000
Inventories
Current Assets 1,543,036 1,186,268 2,301,229 2,598,596
11,250
Fixed Assets 202,280 383,713 87,100 219,516
Other Assets - 5,246 4,699 4,151
7,500
Total Assets 5,176,442 6,880,206 14,317,483 18,719,211
Growth (%) 32.91% 108.10% 30.74% 3,750
Current Liabilities 459,148 869,746 2,182,014 3,930,922 -

Long Term Liabilities 2,398,767 3,305,251 7,890,076 10,674,250 2010 2011 2012 2013
Total Liabilities 2,857,915 4,174,997 10,072,090 14,605,172
Growth (%) 46.09% 141.25% 45.01%
Authorized Capital 1,442,012 1,442,012 1,442,012 1,442,012 4,245 4,114
Paid up Capital 455,670 455,670 479,653 479,653 4,245
Paid up Capital (Shares) 4,557 4,557 4,797 4,797

Par Value 100 100 100 100
3,379
2,705
Retained Earnings 493,059 859,972 1,701,907 2,662,109
2,513
2,144
Total Equity 2,144,324 2,705,209 4,245,393 4,114,039
Growth (%) 26.16% 56.93% -3.09% 1,647
Total Revenues 671,360 970,026 1,715,421 2,690,500

Growth (%) 44.49% 76.84% 56.84%
-85
2010 2011 2012 2013
Cost of Revenues 98,196 143,262 263,837 395,796

Gross Profit 573,164 826,764 1,451,584 2,294,704
Expenses (Income) 86,877 119,278 171,195 242,434
Operating Profit 486,287 707,486 1,280,389 2,052,270 2,691
2,691
Growth (%) 45.49% 80.98% 60.28%

2,142
Other Income (Expenses) -126,990 -194,538 -367,141 -874,894 1,715

Income before Tax 359,297 512,948 913,248 1,177,376 1,593
Tax 19,919 20,600 -14,167 -174,148 970

Profit for the period 339,378 492,348 927,415 1,351,524
1,044
671
Growth (%) 45.07% 88.37% 45.73%
495
Period Attributable 326,729 474,358 841,935 1,247,994 -54
Comprehensive Income 351,962 494,491 821,596 935,985 2010 2011 2012 2013
Comprehensive Attributable 339,378 476,411 745,869 858,498
Current Ratio (%) 336.07 136.39 105.46 66.11
1,352
Dividend (Rp) 25.00 - - 120.00 1,352
EPS (Rp) 71.70 104.10 175.53 260.19

BV (Rp) 470.59 593.68 885.10 857.71 1,076
927
DAR (X) 0.55 0.61 0.70 0.78
800
DER(X) 1.33 1.54 2.37 3.55

ROA (%) 6.56 7.16 6.48 7.22 492
524
15.83 18.20 21.85 32.85 339

ROE (%)
GPM (%) 85.37 85.23 84.62 85.29 249
OPM (%) 72.43 72.93 74.64 76.28

NPM (%) 50.55 50.76 54.06 50.23
-27
2010 2011 2012 2013

Payout Ratio (%) 34.87 - - 46.12
Yield (%) 1.00 - - 2.07

COMPANY REPORT
TLKM
TELEKOMUNIKASI INDONESIA
(PERSERO) TBK.
Company Profile
PT Telekomunikasi Indonesia (Persero) Tbk. (Telkom) is the principal provider of local,

domestic and international telecommunications services in Indonesia, as well as the
leading provider of mobile cellular services through our majority-owned subsidiary,
Telkomsel. Telkom also provides services in information, media and edutainment, including
cloud-based and server-based managed services, e-Payment and IT enabler services, Pay-
TV, as well as e-Commerce and other portal services. Our objective is to become a leading
TIMES player in the region.
Telkom growth strategy is broadly based on the principle of 'first thing first' and focused on
future anticipated growth areas. This strategy is implemented by allocating our resources
primarily for investments in human capital, in increasing our cellular business, in expanding
our broadband penetration in Indonesia, and international expansion.
Telkom also provides a wide range of other communication services, including telephone
network interconnection services, multimedia, data and internet communication-related
services, satellite transponder leasing, leased line, intelligent network and related services,
cable television, and VoIP services.
The Company and its Subsidiaries (the Group) had approximately 25,011 employees as of
December 31st, 2013.
January 2014
Disclaimer:

TLKM Telekomunikasi Indonesia (Persero) Tbk. [S]
Industry Sub Sector : Telecommunication (73) Market Capitalization : 229,319,991,810,000
4 | 229.3T | 5.28% | 23.62%
3 | 50.5T | 4.57% | 15.66%

Established Date : 24-Sep-1991 1. Negara Republik Indonesia 51,602,353,560 : 51.19%
Under Writer IPO :
PT Bahana Securities DIVIDEND ANNOUNCEMENT
PT Danareksa Sekuritas Bonus Cash Recording Payment
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
Wisma Sudirman - Puri Datindo 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 1999 50 : 4 24-Jun-99 25-Jun-99 05-Jul-99 02-Aug-99
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
BOARD OF DIRECTORS 2005 218.86 21-Jul-06 24-Jul-06 26-Jul-06 09-Aug-06 F
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
4. Sahat Pardede ISSUED HISTORY
5. Virano Gazi Nasution Listing Trading
CORPORATE SECRETARY 1. Negara RI (Seri A) 1 14-Nov-95 -
Honesti Basyir 2. Negara RI (Seri B) (C/ L) 7,466,665,999 14-Nov-95 -
3. First Issue 933,333,000 14-Nov-95 14-Nov-95
HEAD OFFICE 4. First Issue (LN) 700,000,000 14-Nov-95 14-Nov-95
Graha Citra Caraka 5th Fl. 5. First Issue (divesment) 233,334,000 14-Nov-95 14-Nov-95
Jln. Gatot Subroto No. 52 6. Bonus Shares 746,666,640 03-Aug-99 03-Aug-99
Jakarta 7. Stock Split 10,079,999,640 28-Sep-04 28-Sep-04
Phone : (021) 521-5109 8. Stock Split 86,247,402,484 28-Aug-13 28-Aug-13
Fax : (021) 522-0500
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
2,600 480 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
2,275 420 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
1,950 360
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
1,625 300
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
1,300 240
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
975 180 Dec-10 8,300 7,650 7,950 31,995 446,590 3,549,809 20
650 120 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
325 60 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
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
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
71.6% 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
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%
32.1%
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% 19.1% 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
Volume (Million Sh.) 6,841 5,635 5,788 15,741 2,047 Sep-13 2,450 1,950 2,100 88,615 3,130,995 6,767,447 21
Value (Billion Rp) 56,889 41,534 48,078 77,223 4,478 Oct-13 2,375 2,100 2,350 73,248 2,393,760 5,401,091 21
Days 245 247 246 244 20 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 2,275
Low 6,950 6,600 6,650 1,950 2,060
Close 7,950 7,050 9,050 2,150 2,275
Close* 1,590 1,410 1,810 2,150 2,275
PER (X) 13.89 9.18 9.92 14.70 15.55

PER Industry (X) 14.36 11.09 17.53 18.40 18.52
PBV (X) 3.61 2.33 2.72 2.98 3.15

Receivables 3,917,709 4,433,849 5,250,000 5,409,000 6,421,000

435,244 515,536 758,000 579,000 509,000 110,000
Inventories
Current Assets 16,186,024 18,730,627 21,258,000 27,973,000 33,075,000
82,500
Fixed Assets 76,419,897 75,832,408 74,897,000 77,047,000 86,761,000
Other Assets 2,234,288 81,027,820 12,000 - -
55,000
Total Assets 97,559,606 99,758,447 103,054,000 111,369,000 127,951,000
Growth (%) 2.25% 3.30% 8.07% 14.89% 27,500

Growth (%) -9.01% -2.93% 5.51% 13.82%
Paid up Capital 5,040,000 5,040,000 5,040,000 5,040,000 5,040,000 77,424
66,978
Par Value 250 250 250 250 50
61,630

45,835
38,990
Total Equity 38,989,747 44,418,742 60,981,000 66,978,000 77,424,000
Growth (%) 13.92% 37.29% 9.83% 15.60% 30,041
Total Revenues 64,596,635 68,629,181 71,918,000 77,143,000 82,967,000

Growth (%) 6.24% 4.79% 7.27% 7.55%
-1,548
2009 2010 2011 2012 2013
Cost of Revenues 41,993,494 46,138,061 49,970,000 51,445,000 55,121,000

Gross Profit 22,603,141 22,491,120 21,948,000 25,698,000 27,846,000
Expenses (Income) 41,993,494 46,138,061 49,970,000 51,445,000 -
82,967 77,143
Growth (%) -0.50% -2.41% 17.09% 8.36% 68,629
71,918
64,597
66,042
Other Income (Expenses) -253,853 -1,074,769 -1,091,000 -1,470,000 -697,000

Tax 6,373,076 5,546,039 5,387,000 -5,866,000 6,859,000

32,191
Growth (%) -0.66% -2.52% 18.69% 10.50%

15,266
Current Ratio (%) 60.58 91.49 95.80 116.04 116.31
20,290
Dividend (Rp) 288.06 322.59 371.05 436.10 - 20,290
18,362
EPS (Rp) 792.47 572.27 543.90 637.40 140.92 15,976 15,870 15,470
BV (Rp) 1,934.02 2,203.31 3,024.85 3,322.32 768.10 16,151
DAR (X) 0.49 0.43 0.41 0.40 0.39

12,012
DER(X) 1.22 0.98 0.69 0.66 0.65

ROA (%) 16.38 15.91 15.01 16.49 15.86 7,873
ROE (%) 40.98 35.73 25.37 27.41 26.21

GPM (%) 34.99 32.77 30.52 33.31 33.56 3,733
OPM (%) 34.99 32.77 30.52 33.31 33.56

NPM (%) 24.73 23.12 21.51 23.80 24.46
-406
2009 2010 2011 2012 2013

Payout Ratio (%) 36.35 56.37 68.22 68.42 -
Yield (%) 3.05 4.06 5.26 4.82 -

COMPANY REPORT
UNTR
UNITED TRACTORS TBK.
Company Profile
PT United Tractors Tbk. (the Company) was established on October 13th, 1972, as heavy
equipment distributor in Indonesia. The Company commenced commercial operations in
1973.
The Company is the leading and the largest distributor of heavy equipments in the
Indonesia, providing products from world-renowned brands such as Komatsu, UD Trucks,
Scania, Bomag, Tadano, and Komatsu Forest.
The Company, through its majority shareholder, PT Astra International Tbk., is part of
Jardine Matheson Holdings Ltd. The Company is domiciled in Jakarta with 18 branches, 22
site offices and 12 representative offices throughout Indonesia. The head office is located
at Jln. Raya Bekasi Km. 22, Cakung, Jakarta.
The company has direct ownership in domestic and foreign subsidiaries:

PT Pamapersada Nusantara,
PT Tuah Turangga Agung,
PT United Tractors Pandu Engineering,
UT Heavy Industry(S) Pte. Ltd.,
PT Andalan Multi Kencana,
PT Bina Pertiwi, and
PT Universal Tekno Reksajaya.
As of December 31st, 2013, the Group had approximately 20,070 employees.
January 2014
Disclaimer:

UNTR United Tractors Tbk. [S]
Industry Sub Sector : Wholesale (Durable & Non-Durable Goods) (91) Market Capitalization : 71,991,608,124,800
13 | 72.0T | 1.66% | 49.81%
8 | 28.1T | 2.55% | 31.59%

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 *) 1994 1:3 23-Feb-94 24-Feb-94 03-Mar-94 01-Apr-94
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 2000 5:9 08-Jun-00 09-Jun-00 14-Jun-00 23-Jun-00
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 I
5. Loudly 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
Fax : (021) 460-0655, 460-0677 ISSUED HISTORY
Listing Trading
Homepage : www.unitedtractors.com No. Type of Listing Shares Date Date
Email : sarakl@unitedtractors.com 1. First Issue 2,700,000 19-Sep-89 19-Sep-89
ir@unitedtractors.com 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
245%
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% 180.6% 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%
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% 71.6%
Nov-12 21,300 16,600 17,050 33,628 128,388 2,458,214 20
Dec-12 20,000 16,650 19,700 29,893 113,609 2,090,278 18
35%
27.9%
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
Value (Billion Rp) 23,438 32,339 39,788 20,486 1,185 Oct-13 18,900 16,400 17,500 20,649 52,815 949,367 21
Days 245 247 246 244 20 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 21,200
Low 14,950 18,700 16,600 13,650 18,500
Close 23,800 26,350 19,700 19,000 19,300
Close* 22,882 26,350 19,700 19,000 19,300
PER (X) 20.44 16.76 12.54 15.73 15.98

PER Industry (X) 21.27 16.89 19.08 15.43 17.12
PBV (X) 4.91 3.57 2.27 2.09 2.13

Receivables 4,549,566 5,349,688 9,969,714 9,894,656 11,814,937

3,966,358 6,931,631 7,129,459 7,173,704 6,176,470 50,000
Inventories
Current Assets 11,969,001 15,532,762 25,625,578 22,048,115 27,814,126
37,500
Fixed Assets 11,835,726 13,261,374 13,670,208 15,196,476 14,574,384
Other Assets - - - - -
25,000
Total Assets 24,404,828 29,700,914 46,440,062 50,300,633 57,362,244
Growth (%) 21.70% 56.36% 8.31% 14.04% 12,500

Growth (%) 29.48% 39.90% -4.94% 20.63%
Paid up Capital 831,719 831,719 932,534 932,534 932,534 35,649
32,301
Par Value 250 250 250 250 250
28,377

21,104
Total Equity 13,843,710 16,136,338 27,503,948 32,300,557 35,648,898 16,136

13,844
Growth (%) 16.56% 70.45% 17.44% 10.37% 13,832
Total Revenues 29,241,883 37,323,872 55,052,562 55,953,915 51,012,385

Growth (%) 27.64% 47.50% 1.64% -8.83%
-713
2009 2010 2011 2012 2013
Cost of Revenues 22,570,824 30,528,174 44,859,041 45,432,916 41,495,567

Gross Profit 6,671,059 6,795,698 10,193,521 10,520,999 9,516,818
Expenses (Income) 1,404,587 1,633,177 2,408,944 3,074,244 2,929,481
Operating Profit 5,266,472 5,162,521 - - - 55,053 55,954
55,954
51,012
Growth (%) -1.97%
44,539
37,324
Other Income (Expenses) 168,662 -123,852 - - -
Income before Tax 5,444,238 5,061,260 7,784,577 7,446,755 6,587,337 33,125 29,242
Tax 1,594,543 1,186,745 1,885,071 1,693,413 1,788,559

21,710
Growth (%) 0.64% 52.26% -2.48% -16.59%

10,296
Current Ratio (%) 165.64 156.59 171.64 194.65 191.02
5,900 5,753
Dividend (Rp) 330.00 590.00 820.00 830.00 175.00 5,900
EPS (Rp) 1,157.15 1,164.13 1,581.96 1,549.45 1,295.85 4,799

BV (Rp) 4,161.17 4,850.30 7,373.45 8,659.35 9,557.00 4,696
3,850 3,875
DAR (X) 0.43 0.46 0.41 0.36 0.38
3,493
DER(X) 0.76 0.84 0.69 0.56 0.61

ROA (%) 15.77 13.05 12.70 11.44 8.37 2,289
ROE (%) 27.81 24.01 21.45 17.81 13.46

GPM (%) 22.81 18.21 18.52 18.80 18.66 1,086
OPM (%) 18.01 13.83 - - -

NPM (%) 13.17 10.38 10.72 10.28 9.41
-118
2009 2010 2011 2012 2013

Payout Ratio (%) 28.52 50.68 51.83 53.57 13.50
Yield (%) 2.13 2.48 3.11 4.21 0.92

C
COOM
MPPA
ANNY
Y R
REEP
POOR
RTT
UNVR
UNILEVER INDONESIA TBK.
Company Profile
PTUnileverIndonesiaTbk.wasestablishedonDecember5th,1933.UnileverIndonesiahas
growntobealeadingcompanyofHomeandPersonalCareaswellasFoodsandIceCream
productsinIndonesia.

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 commercial
operationsin1933.

Unilever Indonesias portfolio includes many of the worlds best known and wellloved
brands,suchas:
Pepsodent,
Ponds,
Lux,
Lifebuoy,
Dove,
Sunsilk,
Clear,
Rexona,
Vaseline,
Rinso,
Molto,
Sunlight,
Walls,
BlueBand,
Royco,
Bangoandmanymore.
TheCompanysfactoriesarelocatedatJln.Jababeka9BlokD,Jln.JababekaRayaBlokO,
Jln. Jababeka V Blok V No. 1416, Jababeka Industrial Estate Cikarang, Bekasi, West Java,
andJln.RungkutIndustriIVNo.511,RungkutIndustrialEstate,Surabaya.

January 2014
Disclaimer:

UNVR Unilever Indonesia Tbk. [S]
Industry Sub Sector : Cosmetics And Household (54) Market Capitalization : 217,836,500,000,000
5 | 217.8T | 5.02% | 28.63%
19 | 14.2T | 1.29% | 51.25%

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 400.00 11-Feb-03 13-Feb-03 17-Feb-03 04-Mar-03 I

*) Independent Commissioners 2002 500.00 16-Jul-03 17-Jul-03 21-Jul-03 04-Aug-03 F
2003 50.00 17-Feb-04 18-Feb-04 20-Feb-04 05-Mar-04 I
BOARD OF DIRECTORS 2003 80.00 15-Jul-04 16-Jul-04 20-Jul-04 03-Aug-04 F
1. Maurits Daniel Rudolf Lalisang 2004 70.00 02-Dec-04 03-Dec-04 06-Dec-04 17-Dec-04 I
2. Ainul Yaqin 2004 60.00 04-Mar-05 07-Mar-05 09-Mar-05 24-Mar-05 I
3. Debora Herawati Sadrach 2005 80.00 08-Jul-05 11-Jul-05 13-Jul-05 27-Jul-05 I
4. Enny Hartati 2005 60.00 05-Dec-05 06-Dec-05 08-Dec-05 21-Dec-05 I
5. Tevilyan Yudhistira Rusli 2005 120.00 22-Jun-06 23-Jun-06 27-Jun-06 11-Jul-06 F
6. Hadrianus Setiawan 2006 80.00 29-Nov-06 30-Nov-06 04-Dec-06 18-Dec-06 I
7. Ira Noviarti 2006 125.00 22-Jun-07 25-Jun-07 27-Jun-07 11-Jul-07 F
8. Ramakrishnan Raghuraman 2007 90.00 28-Nov-07 29-Nov-07 03-Dec-07 14-Dec-07 I
9. Sancoyo Antarikso 2007 167.00 26-Jun-08 27-Jun-08 01-Jul-08 11-Jul-08 F
10. Vishal Gupta 2008 95.00 26-Nov-08 27-Nov-08 01-Dec-08 15-Dec-08 I
2008 220.00 26-Jun-09 29-Jun-06 01-Jul-09 14-Jul-09 F
AUDIT COMMITTEE 2009 100.00 25-Nov-09 26-Nov-09 01-Dec-09 15-Dec-09 I
1. Cyrillus Harinowo 2009 299.00 28-Jun-10 29-Jun-10 01-Jul-10 13-Jul-10 F
2. Benny Redjo Setyono 2010 100.00 26-Nov-10 29-Nov-10 01-Dec-10 15-Dec-10 I
3. Tjan Hong Tjhiang 2010 344.00 27-Jun-11 28-Jun-11 01-Jul-11 13-Jul-11 F
2011 250.00 06-Dec-11 07-Dec-11 09-Dec-11 15-Dec-11 I
CORPORATE SECRETARY 2011 296.00 27-Jun-12 28-Jun-12 02-Jul-12 13-Jul-12 F
Sancoyo Antarikso 2012 300.00 10-Dec-12 11-Dec-12 13-Dec-12 20-Dec-12 I
2012 334.00 28-Jun-13 01-Jul-13 03-Jul-13 16-Jul-13 F
HEAD OFFICE 2013 330.00 02-Dec-13 03-Dec-13 05-Dec-13 12-Dec-13 I
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
245%
Jan-12 24,450 18,200 19,600 16,752 38,440 761,415 21
210% 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% 179.5% Apr-12 20,750 18,750 19,850 14,599 31,656 615,568 20
158.4% 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%
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% 71.6%
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 20 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 28,775
Low 10,550 13,800 17,500 20,900 25,800
Close 16,500 18,800 20,850 26,000 28,550
Close* 16,500 18,800 20,850 26,000 28,550
PER (X) 37.17 34.45 32.87 36.37 39.94

PER Industry (X) 16.41 16.22 19.75 19.15 23.95
PBV (X) 31.12 38.97 40.09 36.00 39.53

Receivables 1,345,255 1,752,633 2,188,280 2,261,941 3,279,694

1,340,036 1,574,060 1,812,821 2,061,899 2,084,331 10,000
Inventories
Current Assets 3,598,793 3,748,130 4,446,219 5,035,962 5,862,939
7,500
Fixed Assets 68,371 4,148,778 5,314,311 6,283,479 6,874,177
Other Assets 55,058 50,377 75,705 70,456 69,271
5,000
Total Assets 7,484,990 8,701,262 10,482,312 11,984,979 7,485,249
Growth (%) 16.25% 20.47% 14.34% -37.54% 2,500

Growth (%) 23.20% 46.19% 17.87% 13.43%
4,045 3,968
Paid up Capital 76,300 76,300 76,300 76,300 76,300 4,255
3,703 3,681
Par Value 10 10 10 10 10
3,387

2,519
Total Equity 3,702,819 4,045,419 3,680,937 3,968,365 4,254,670

Growth (%) 9.25% -9.01% 7.81% 7.21% 1,651
Total Revenues 18,246,872 19,690,239 23,469,218 27,303,248 30,757,435

Growth (%) 7.91% 19.19% 16.34% 12.65%
-85
2009 2010 2011 2012 2013
Cost of Revenues 9,200,878 9,485,274 11,462,805 13,414,122 14,978,947

Gross Profit 9,045,994 10,204,965 12,006,413 13,889,126 15,778,488
Expenses (Income) 4,831,103 5,662,340 6,431,614 7,391,019 8,614,043
30,757
Growth (%) 7.78% 22.72% 16.56% 10.25% 27,303

23,469
24,483
Other Income (Expenses) 33,699 -3,982 - -31,342 -5,637 19,690

18,247
Tax 1,205,236 1,153,995 1,410,495 -1,627,620 1,806,183

11,934
Growth (%) 11.21% 23.04% 16.21% 10.61%

5,659
Current Ratio (%) 104.17 85.13 68.67 66.83 69.64
5,353
Dividend (Rp) 399.00 444.00 546.00 634.00 330.00 5,353
4,839
EPS (Rp) 398.87 443.90 545.66 634.24 701.52 4,164
BV (Rp) 485.30 530.20 482.43 520.10 557.62 4,261
3,385
DAR (X) 0.50 0.53 0.65 0.67 1.21 3,043
3,169
DER(X) 1.02 1.15 1.85 2.02 2.14

ROA (%) 40.66 38.90 39.73 40.38 71.51 2,077
ROE (%) 82.19 83.67 113.13 121.94 125.81

GPM (%) 49.58 51.83 51.16 50.87 51.30 985
OPM (%) 23.10 23.07 23.75 23.80 23.29

NPM (%) 16.68 17.19 17.74 17.72 17.40
-107
2009 2010 2011 2012 2013

Payout Ratio (%) 100.03 100.02 100.06 99.96 47.04
Yield (%) 3.61 2.69 2.90 3.04 1.27

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
VIVA
PT VISI MEDIA ASIA TBK.
Company Profile
PT Visi Media Asia Tbk. (VIVA) was established in the Republic of Indonesia on November
8, 2004. the scope of the Companys activity is conducting, among others, trading, and
management consulting services. Currently, the Company is engaged as a holding company
of its Subsidiaries which are engaged in media and services.
PT Visi Media Asia Tbk. focused on delivering news, sports and lifestyle content through the
convergence of broadcast, online, and mobile platforms. VIVA provides content, community
and commerce, providing customers with a unique 360 degree experience.
Through synergies and integrated operations, VIVA is able to drive cost efficiencies resulting
in affordable access for consumers and better market positioning. Key synergies to date
include, but are not limited to, joint advertising sales between tvOne, ANTV and Vivanews,
and cooperation on IP networks to ensure operational stability.
The ultimate parent company of the Company is PT Bakrie Global Ventura. The Company is
part of the Bakrie Group.
The Company has direct ownership in Subsidiaries as follows:

PT Lativi Mediakarya
PT Asia Global Media
PT Redal Semesta
PT Viva Media Baru
PT Intermedia Capital
PT Digital Media Asia
The Group had 2,482 permanent employees as of December 31st, 2013.
January 2014
Disclaimer:

VIVA Visi Media Asia Tbk. [S]
Industry Sub Sector : Advertising, Printing And Media (95) Market Capitalization : 4,478,281,548,800
134 | 4.48T | 0.10% | 91.44%
62 | 4.56T | 0.41% | 80.59%

Established Date : 08-Nov-2004 1. Raiffeisen Bank International AG, Singapore Branch 2,755,000,000 : 16.73%
Listing Date : 21-Nov-2011 2. PT Bakrie Global Ventura 1,611,736,000 : 9.79%
Under Writer IPO : 3. Credit Suisse AG Sg Br S/A PT Bakrie Global Ventura-2023 1,422,000,000 : 8.64%
PT Danatama Makmur 4. DBS Vickers (Hongkong) Ltd A/C Client 1,034,820,000 : 6.29%
PT Danatama Makmur 5. Public (<5%) 9,640,714,400 : 58.55%
PT Ficomindo Buana Registrar DIVIDEND ANNOUNCEMENT
Mayapada Tower 10th Fl. Suite 02 B Bonus Cash Recording Payment
F/I
Jln. Jend. Sudirman Kav. 28 Jakarta 12920 Year Shares Dividend Cum Date Ex Date Date Date
Phone : (021) 521-2316, 521-2317 -
Fax : (021) 521-2320
ISSUED HISTORY
1. Anindya Novyan Bakrie No. Type of Listing Shares Date Date
2. Omar Luthfi Anwar 1. First Issue Seri A 1,667,000,000 21-Nov-11 21-Nov-11
3. Raden Mas Djoko Setiotomo *) 2. Company Listing Seri A 12,762,460,000 21-Nov-11 21-Nov-11
4. Rosan Perkasa Roeslani 3. Company Listing Seri B 1,034,820,000 21-Nov-11 21-Nov-11
5. Setyanto Prawira Santosa *) 4. Warrant I 999,990,400 T: 31-May-12 : 24-May-13
6. Rachmat Gobel *)
BOARD OF DIRECTORS
1. Erick Thohir
2. Otis Hahijari
3. Anindra Ardiansyah Bakrie
4. Raden Mas Harlin Erlianto Rahardjo
5. Charlie Kasim
6. Tae Hoon David T. Khim
7. Robertus B. Kurniawan
AUDIT COMMITTEE
1. R.M. Djoko Setiotomo
2. Ivan Permana
3. Robertus Bismarka Kurniawan
CORPORATE SECRETARY
Neil Ricardo Tobing
HEAD OFFICE
Wisma Bakrie 2, 7th Fl.
Jln. H.R. Rasuna Said Kav. B2
Jakarta - 12920
Phone : (021) 579-45711
Fax : (021) 579-45715
Homepage : www.viva.co.id
Email : corsec@viva.co.id
ntobing@viva.co.id

TRADING ACTIVITIES
Visi Media Asia Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
Price* November 2011 - January 2014 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
1,000 2,400 Nov-11 550 390 530 8,583 573,129 275,151 8
Dec-11 580 490 520 7,128 1,115,879 423,610 21
875 2,100
Jan-12 630 510 540 6,389 163,865 87,649 21
Feb-12 560 500 510 1,093 134,896 73,859 21
750 1,800
Mar-12 530 480 510 744 14,196 7,137 20
Apr-12 540 480 495 1,644 73,316 36,766 20
625 1,500
May-12 810 485 780 1,654 49,311 30,212 21
Jun-12 900 600 730 662 63,443 50,803 19
500 1,200
Jul-12 730 580 720 206 546,183 128,093 22
Aug-12 770 620 680 1,510 92,936 59,612 19
375 900 Sep-12 670 430 520 4,540 53,190 28,232 20
Oct-12 570 265 540 21,102 606,296 234,638 22
250 600 Nov-12 710 480 680 3,847 371,976 226,059 20
Dec-12 700 450 560 9,766 886,441 473,799 18
125 300
Jan-13 660 470 540 8,327 975,860 494,188 21
Feb-13 750 495 590 27,278 1,645,224 945,115 20
Mar-13 620 465 540 19,984 1,535,850 835,403 19
Nov-11 May-12 Nov-12 May-13 Nov-13
Apr-13 720 530 560 40,834 3,812,373 2,312,393 22
May-13 580 440 465 32,250 2,872,143 1,477,086 22
Jun-13 490 340 400 24,953 2,702,698 1,115,495 19
Closing Price*, Jakarta Composite Index (IHSG) and Jul-13 415 245 335 20,855 2,912,570 1,052,457 23
Trade, Sevices and Investment Index Aug-13 345 111 165 66,603 8,157,092 1,469,671 17
November 2011 - January 2014 Sep-13 260 148 230 55,435 5,316,402 1,191,245 21
100% Oct-13 255 194 240 21,344 2,947,431 763,086 21
Nov-13 300 220 285 11,502 2,828,387 785,487 20
75% Dec-13 290 265 275 4,089 973,035 243,023 19
50% Jan-14 288 250 272 8,087 193,468 55,098 20

42.0%
25%
20.1%
-25%
-39.6%
-50%
-75%
-100%
Nov 11 May 12 Nov 12 May 13 Nov 13
SHARES TRADED 2011 2012 2013 Jan-14

Volume (Million Sh.) 1,689 3,056 36,679 193
Value (Billion Rp) 699 1,437 12,685 55
Frequency (Thou. X) 16 53 333 8
Days 29 243 244 20
Price (Rupiah)
High 580 900 750 288
Low 390 265 111 250
Close 520 560 275 272
Close* 520 560 275 272
PER (X) 305.68 118.83 113.63 112.39

PER Industry (X) 16.89 19.08 15.43 17.12
PBV (X) 5.04 5.16 2.26 2.24

Public Accountant : Tjiendradjaja & Handoko Tomo (Member of Mazars Moores Rowland Indonesia)
Cash & Cash Equivalents 436,309 561,873 554,954 815,880 6,250
Receivables 317,857 333,018 584,687 850,910

91,473 149,637 65,578 57,361 5,000
Inventories
Current Assets 1,167,392 1,167,392 1,340,859 2,509,765
3,750
Fixed Assets 469,007 469,007 494,485 933,019
Other Assets 9,593 9,593 10,320 9,227
2,500
Total Assets 2,417,561 2,417,561 2,993,376 5,303,084
Growth (%) - 23.82% 77.16% 1,250
Current Liabilities 352,705 681,701 367,285 371,757 -

Long Term Liabilities 642,476 140,576 947,530 2,844,551 2010 2011 2012 2013
Total Liabilities 995,181 822,276 1,314,815 3,216,308
Growth (%) -17.37% 59.90% 144.62%
Authorized Capital 4,350 4,349,857 4,349,857 4,349,857 2,087
Paid up Capital 1,537 1,703,514 1,704,330 1,803,513 2,087

1,679
Par Value 1,000 & 2,518 100 & 251.8 100 & 251.8 100 & 251.8
1,661
Retained Earnings -372,516 -372,516 -299,594 -192,203

1,235
Total Equity 1,595,284 1,595,284 1,678,561 2,086,775

Growth (%) - 5.22% 24.32% 810
Total Revenues 889,101 992,635 1,241,437 1,674,375

Growth (%) 11.64% 25.06% 34.87%
-42
2010 2011 2012 2013
Cost of Revenues 823,286 840,277 982,484 1,087,554

Gross Profit 65,815 152,358 258,953 586,821
Expenses (Income) - - - -
Operating Profit 65,815 152,358 258,953 586,821 1,674
1,674
Growth (%) 131.49% 69.96% 126.61%

1,333
1,241
Other Income (Expenses) -76,766 -110,779 -74,874 -344,054 993
Income before Tax -10,950 41,579 184,079 242,767 991
889
Tax -14,606 15,273 111,154 136,972

Profit for the period 3,656 26,306 72,925 105,796
650
Growth (%) 619.50% 177.21% 45.07%

308
Period Attributable 3,656 26,260 72,922 107,392 -33
Comprehensive Income - 26,306 72,925 105,796 2010 2011 2012 2013

Comprehensive Attributable - 26,260 72,922 107,392
Current Ratio (%) 330.98 171.25 365.07 675.11
106
Dividend (Rp) - - - - 106
EPS (Rp) 0.24 1.70 4.71 6.52

BV (Rp) 103.16 103.16 108.49 126.75 84
73
DAR (X) 0.41 0.34 0.44 0.61
63
DER(X) 0.62 0.52 0.78 1.54

ROA (%) 0.15 1.09 2.44 1.99 41
0.23 1.65 4.34 5.07 26

ROE (%)
GPM (%) 7.40 15.35 20.86 35.05 19
3.7
OPM (%) 7.40 15.35 20.86 35.05
NPM (%) 0.41 2.65 5.87 6.32
-2
2010 2011 2012 2013

Payout Ratio (%) - - - -
Yield (%) - - - -

C
COOM
MPPA
ANNY
Y R
REEP
POOR
RTT
WIKA
WIJAYA KARYA (PERSERO) TBK.
Company Profile
PTWijayaKarya(Persero)Tbk.,("Perseroan")wasbornoutofthenationalizationprocessof
a Dutch company bearing the name Naamloze Vennotschap Technische Handel
MaatschappijenBouwbedijfVisenCo.orNVVisenCo.PursuantToGovernmentRegulation
No.2/1960andMinisterofPublicWorksandElectricPower(PUTL)DecreeNo.5dated11
March1960.

InaccordancewithArticle3oftheArticlesofAssociation,thepurposeandobjectivesofthe
Company is to engage in the construction industry, manufacturing industry, conversion
industry, rental, agency services, investment, agroindustry, renewable energy and
conversionenergy,trading,engineering,procurement,construction,area(industrialzone)
management,servicecapacityupgradesinthefieldofconstruction,informationtechnology
for engineering and planning services, by applying the principles of limited liability
companies.

TheCompanyisdomiciledatdiJl.D.I.PanjaitanKav.9,EastJava.

TheCompanydirectlyownedmorethan50%sharesonsubsidiariesasfollows:
PTWijayaKaryaBeton
PTWijayaKaryaRealty
PTWijayaKaryaIndustridanKonstruksi
PTWijayaKaryaInsanPertiwi
PTWijayaKaryaBangunanGedung

January 2014
Disclaimer:

WIKA Wijaya Karya (Persero) Tbk. [S]
64 | 12.0T | 0.28% | 79.63%
31 | 8.65T | 0.78% | 62.64%

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 F
Wisma Sudirman - Puri Datindo 2009 10.02 27-May-10 31-May-10 02-Jun-10 16-Jun-10 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2010 17.08 06-Jun-11 07-Jun-11 09-Jun-11 23-Jun-11 F
Phone : (021) 570-9009 2011 17.28 23-May-12 24-May-12 28-May-12 11-Jun-12 F
Fax : (021) 570-9026 2012 22.32 29-May-13 30-May-13 03-Jun-13 14-Jun-13 F
2013 27.82 28-Apr-14 29-Apr-14 02-May-14 13-May-14 F
1. Basoeki Hadimoeljono ISSUED HISTORY
2. Abdul Rahman Pelu Listing Trading
3. Arie Setiadi Moerwanto 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. Taslim Z. Yunus *) 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 717,000 T: 22-Nov-11 : 23-Dec-13
4. Budi Harto 10. ESOP/MSOP I 206,000 30-Dec-13 30-Dec-13
5. Destiawan Soewardjono
6. Ganda Kusuma
7. Ikuten Sinulingga
AUDIT COMMITTEE
1. Taslim Z. Yunus
2. Arzul Andaliza
3. Bakti Santoso Luddin
4. M. Slamet Wibowo
5. Mukti Wibowo
CORPORATE SECRETARY
Natal Argawan Pardede
HEAD OFFICE
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 : natal.argawan@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
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
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% 490.9% 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%
Nov-12 1,630 1,300 1,630 19,989 425,278 614,199 20
149.6% Dec-12 1,650 1,360 1,480 20,945 414,789 619,874 18
120%
71.6%
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 20 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 1,985
Low 300 450 600 1,350 1,580
Close 680 610 1,480 1,580 1,950
Close* 680 610 1,480 1,580 1,950
PER (X) 14.26 9.15 17.75 18.65 23.02

PER Industry (X) 9.97 11.09 17.34 17.79 16.27
PBV (X) 2.25 1.66 3.21 3.13 3.86

Public Accountant : Hadori Sugiarto Adi & Rekan (Member of HLB International)
Receivables 1,353,339 1,422,090 420,573 1,978,912 2,132,198

1,044,473 853,257 872,775 1,138,080 1,118,390 11,000
Inventories
Investment 121,509 150,108 164,989 1,208,327 1,583,043
8,250
Fixed Assets 332,207 405,546 753,148 1,168,757 1,640,292
Other Assets 52,924 75,040 417,006 73,252 71,743
5,500
Total Assets 5,700,614 6,286,305 8,322,980 10,945,209 12,594,963
Growth (%) 10.27% 32.40% 31.51% 15.07% 2,750
Bank Payable - - - - -
Trade Payable 1,163,020 1,221,036 2,119,188 2,529,217 3,061,518 2009 2010 2011 2012 2013
Growth (%) 7.49% 39.69% 33.22% 15.21%
Paid up Capital 584,637 600,154 602,727 610,563 613,997 3,227
2,814
Par Value 100 100 100 100 100 2,219
2,569
Retained Earnings 386,017 608,453 854,681 1,196,354 1,202,095 1,802

1,533
1,910
Total Equity 1,532,941 1,801,624 2,219,376 2,814,006 3,226,959

Growth (%) 17.53% 23.19% 26.79% 14.67% 1,252
Total Revenues 6,590,857 6,022,922 7,741,827 9,816,086 11,884,668

Growth (%) -8.62% 28.54% 26.79% 21.07%
-65
2009 2010 2011 2012 2013
Cost of Revenues 5,967,732 5,390,012 6,978,414 8,902,209 10,562,234

Gross Profit 645,733 673,068 864,935 1,111,382 1,583,448
Growth (%) -1.51% 36.88% 29.32% 43.83%

11,885
9,816
9,460

6,591
6,023
Tax 141,585 162,085 238,660 302,791 392,319
4,611
Growth (%) 50.70% 25.61% 29.21% 23.61%

2,187
Dividend (Rp) 10.02 17.08 17.28 22.32 -
624
EPS (Rp) 35.33 47.47 58.82 74.99 92.82 624
BV (Rp) 262.20 300.19 368.22 460.89 525.57 505

DAR (X) 0.71 0.70 0.73 0.74 0.74 497
391
DER(X) 2.65 2.43 2.75 2.89 2.90
311
3.62 4.95 4.70 4.62 4.96
370
ROA (%)
ROE (%) 13.47 17.28 17.62 17.95 19.35 242
207
GPM (%) 9.80 11.18 11.17 11.32 13.32
OPM (%) 7.36 7.93 8.44 8.61 10.23 115
NPM (%) 3.13 5.17 5.05 5.15 5.25

Payout Ratio (%) 28.37 35.99 29.38 29.76 -
-12
2009 2010 2011 2012 2013

Yield (%) 3.08 2.51 2.83 1.51 -

C
COOM
MPPA
ANNY
Y R
REEP
POOR
RTT
WSKT
WASKITA KARYA (PERSERO) TBK.
Company Profile
the objectives of the Company are to execute and support the Government policy and
programs in economic area and national development in general, construction industry,
fabrication, rental services, agent services, investment, agro industry, trading, zone
management,increaseabilityinthefieldofconstructionservices,informationtechnology,
andtourismanddeveloperwithimplementationingoodcorporategovernance.

Inordertoachievetheobjectives,theCompanyisengagedinfollowingactivities:
Construction work, mining services, integrated work of Engineering, Procurement, and
Construction (EPC), Design and Build, management consultant service, building
management, building components and raw material fabrication, component and
constructiontoolsfabrication,fabricationofmetals,woods,rubber,andplasticfabrication,
leasing on construction equipments, agent for raw materials, building components and
constructionequipment,investmentand/orbusinessmanagementinareaofbasicfacility
andinfrastructureandindustry,performingactivitiesinagroindustryfield,exportimport,
general trading, region management, system development, service in information
technologyandtourismandroyaltydevelopment.

The Company's business activities, which has been executed by the Company is
construction activities and integrated work Enginering, Procurement and Construction
(EPC).

TheCompanyhas50%directandindirectownershipinterestinsubsidiariesand/orhasthe
controlofthesubsidariesmanagementwhichconsolidatedisPTWaskitaSangirEnergi.

TheCompanyhaspermanentemployeesamountedto996staffsasofDecember31st,2013
respectively.
January 2014
Disclaimer:

WSKT Waskita Karya (Persero) Tbk. [S]
125 | 5.20T | 0.12% | 90.47%
45 | 6.54T | 0.59% | 72.16%

Established Date : 01-Jan-1961 1. Pemerintah Republik Indonesia 6,549,921,000 : 68.00%
Listing Date : 19-Dec-2012 2. Public (<5%) 3,082,315,000 : 32.00%
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 F
PT Datindo Entrycom 2013 11.46 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
Wisma Sudirman - Puri Datindo
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
2. Arif Baharudin
3. Imam Majdi Achid
4. Iwan Nursyirwan Diar *)
5. Kohirin Suganda Saputra *)
6. Satya Arinanto
BOARD OF DIRECTORS
1. Muhammad Choliq
2. Didi Triyono
3. Adhi Wibowo
4. Agus Sugiono
5. Desi Arryani
6. Tunggul Rajagukguk
AUDIT COMMITTEE
1. Iwan Nursyirwan Diar
2. Agus Suprapto
3. Arif Baharudin
4. Mohammad Danial
CORPORATE SECRETARY
Haris Gunawan
HEAD OFFICE
Gedung Waskita
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 - January 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
Dec-12 Mar-13 Jun-13 Sep-13 Dec-13
Closing Price*, Jakarta Composite Index (IHSG) and

Property, Real Estate and Bulding Construction Index
December 2012 - January 2014
140%
120%
100%
80%
60%
40%
20% 21.3%
12.2%
- 3.3%
-20%
Dec 12 Mar 13 Jun 13 Sep 13 Dec 13
SHARES TRADED 2012 2013 Jan-14

Volume (Million Sh.) 1,432 16,180 1,361
Value (Billion Rp) 623 10,728 694
Frequency (Thou. X) 18 440 46
Days 6 244 20
Price (Rupiah)
High 490 1,080 580
Low 420 400 402
Close 450 405 540
Close* 450 405 540
PER (X) 17.04 24.76 33.02

PER Industry (X) 17.34 17.79 16.27
PBV (X) 2.16 1.85 2.47

Cash & Cash Equivalents 2,183,783 1,119,694 10,000
Receivables 1,971,997 2,342,084

412,538 292,227 8,000
Inventories
Investment 50,352 70,168
6,000
Fixed Assets 239,934 415,440
Other Assets 19,036 21,180
4,000
Total Assets 8,366,244 8,788,303
Growth (%) 5.04% 2,000
Bank Payable 822,776 874,808 -

Trade Payable 2,002,815 2,291,268 2012 2013
Total Liabilities 6,359,169 6,404,866
Growth (%) 0.72%
Authorized Capital 2,600,000 2,600,000 2,383
Paid up Capital 963,233 963,224 2,383
2,007
Paid up Capital (Shares) 9,632 9,632
Par Value 100 100
1,897
Retained Earnings 215,174 563,911

1,411
Total Equity 2,007,075 2,383,437

Growth (%) 18.75% 925
Total Revenues 8,808,416 9,686,610

Growth (%) 9.97%
-48
2012 2013
Cost of Revenues 8,076,158 8,775,914

Gross Profit 824,835 1,012,371
Operating Expenses 196,307 305,473
Operating Profit 628,528 - 9,687
9,687
8,808
Growth (%)
7,711
Other Income (Expenses) -168,615 -95,698

Income before Tax 459,913 611,201 5,734
Tax 205,882 243,230

Profit for the period 254,031 367,970
3,758
Growth (%) 44.85%

1,782
Period Attributable 254,031 368,060 -194
Comprehensive Income 254,363 366,629 2012 2013

Comprehensive Attributable - 366,719
Dividend (Rp) 2.11 11.46
368
EPS (Rp) 26.37 38.21 368
BV (Rp) 208.37 247.44

DAR (X) 0.76 0.73 293
254
DER(X) 3.17 2.69
218
ROA (%) 3.04 4.19

ROE (%) 12.66 15.44 143
GPM (%) 9.36 10.45

OPM (%) 7.14 - 68
NPM (%) 2.88 3.80

Payout Ratio (%) 8.00 30.00
-7
2012 2013
Yield (%) 0.47 2.83

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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 owners entity

Jakarta, February 2014

Research and Development Division

2014 Indonesia Stock Exchange. All rights reserved.

2 RESEARCH AND DEVELOPMENT DIVISION

52 | 5.68T | 0.51% | 76.01%

COMPANY HISTORY SHAREHOLDERS (January 2014)

RESEARCH AND DEVELOPMENT DIVISION 3

7,000 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

PER (X) 20.46 13.68 12.64 32.54 27.84

4 RESEARCH AND DEVELOPMENT DIVISION

Receivables 156,724 98,832 16,358 50,068 20,554

Current Liabilities 938,976 1,061,852 1,440,351 2,600,540 3,759,265 -

Par Value 500 500 500 500 500

Total Equity 6,226,365 7,211,687 8,426,158 9,365,411 10,267,859

INCOME STATEMENTS Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 1,889

Total Revenues 7,424,283 8,843,721 10,772,582 11,564,319 12,674,999

2009 2010 2011 2012 2013

Cost of Revenues 4,322,498 5,234,372 6,837,674 7,206,837 8,593,064

Tax 770,778 860,388 834,367 1,004,627 701,983

Growth (%) 21.62% 18.77% 0.87% -24.49%

Period Attributable 1,729,648 2,016,780 2,405,564 2,410,259 1,801,397 -253

DER(X) 0.18 0.19 0.21 0.33 0.46

ROE (%) 27.78 29.17 29.65 26.91 18.53

OPM (%) 35.16 33.91 30.94 - -

2009 2010 2011 2012 2013

RESEARCH AND DEVELOPMENT DIVISION 5

6 RESEARCH AND DEVELOPMENT DIVISION

49 | 6.05T | 0.55% | 74.44%

COMPANY HISTORY SHAREHOLDERS (January 2014)

RESEARCH AND DEVELOPMENT DIVISION 7

1,000 60 Jan-11 930 760 790 4,882 113,072 95,505 21

71.6% Jan-13 2,150 1,730 2,000 25,820 386,992 740,424 21

Price (Rupiah) Jan-14 1,850 1,425 1,780 34,825 523,862 885,065 20

PER (X) 8.65 5.72 14.84 11.35 13.38

8 RESEARCH AND DEVELOPMENT DIVISION

Receivables 1,789,279 1,657,387 1,657,080 2,332,098 2,705,085

Bank Payable - 192,017 200,920 211,800 -

Paid up Capital (Shares) 1,801 1,801 1,801 1,801 1,801 1,181

Total Equity 731,200 861,113 990,368 1,180,919 1,548,463 731

Growth (%) 17.77% 15.01% 19.24% 31.12% 601

INCOME STATEMENTS Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 285

Total Revenues 7,714,614 5,674,980 6,695,112 7,627,703 9,799,598

2009 2010 2011 2012 2013

Cost of Revenues 7,059,135 4,964,348 5,960,704 6,671,815 8,606,444

Growth (%) 2.61% -24.92%

Tax 168,850 130,627 143,687 209,998 305,927

Growth (%) 16.74% -3.94% 16.76% 91.47%

Period Attributable 162,924 189,484 182,116 211,590 405,977 -196

BV (Rp) 405.92 478.05 549.80 655.59 859.63

DER(X) 6.69 4.71 5.17 5.67 5.28

GPM (%) 9.75 13.55 11.93 13.68 12.73

NPM (%) 2.11 3.35 2.73 2.80 4.17