Perusahaan LQ45

IDX LQ45
February 2016
Contents
Forewords
LQ45 Index Constituents for the period of February – July 2016
No. Code Stock Name Page

1. AALI Astra Agro Lestari Tbk. [S] (Plantation, 12) ................................................................................................................................................. 2
2. ADHI Adhi Karya (Persero) Tbk. [S] (Building Construction, 62) ....................................................................................... 6
3. ADRO Adaro Energy Tbk. [S] (Coal Mining, 21) ...................................................................................................................................................... 10
4. AKRA AKR Corporindo Tbk. [S] (Wholesale (Durable and Non-Durable Goods, 91)) ........................................................................ 14
5. ANTM Aneka Tambang Tbk. [S] (Metal and Mineral Mining, 23) .................................................................................................................... 18
6. ASII Astra International Tbk. [S] (Automotive and Components, 42)......................................................................................................... 22
7. ASRI Alam Sutera Realty Tbk. [S] (Property and Real Estate, 61) .............................................................................................................. 26
8. BBCA Bank Central Asia Tbk. (Bank, 81) ................................................................................................................................................................... 30
9. BBNI Bank Negara Indonesia (Persero) Tbk. (Bank, 81) .................................................................................................................................. 34
10. BBRI Bank Rakyat Indonesia (Persero) Tbk. (Bank, 81) ................................................................................................................................. 38
11. BBTN Bank Tabungan Negara (Persero) Tbk. (Bank, 81). ................................................................................................................................ 42
12. 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. GGRM Gudang Garam Tbk. (Tobacco Manufacturers, 52) ................................................................................................................................. 62
17. HMSP HM Sampoerna Tbk. (Tobacco Manufacturers, 52) ................................................................................................................................ 66
18. ICBP Indofood CBP Sukses Makmur Tbk. [S] (Food and Beverages, 51) ............................................................................................. 70
19. INCO Vale Indonesia Tbk. [S] (Metal and Mineral Mining, 23) ........................................................................................................................ 74
20. INDF Indofood Sukses Makmur Tbk. [S] (Food and Beverages, 51) .......................................................................................................... 78
21. INTP Indocement Tunggal Prakasa Tbk. [S] (Cement, 31) .............................................................................................................................. 82
22. JSMR Jasa Marga (Persero) Tbk. [S] (Toll Road, Airport, Harbor and Allied Products, 72) .............................................................. 86
23. KLBF Kalbe Farma Tbk. [S] (Pharmaceuticals, 53) .............................................................................................................................................. 90
24. LPKR Lippo Karawaci Tbk. [S] (Property and Real Estate, 61) ....................................................................................................................... 94
25. LPPF Matahari Department Store Tbk. [S] (Retail Trade, 93) ......................................................................................................................... 98
26. LSIP PP London Sumatera Tbk. [S] (Plantation,12) ........................................................................................................................................... 102
27. MNCN Media Nusantara Citra Tbk. [S] (Advertising, Printing and Media,95) ............................................................................................ 106
28. MPPA Matahari Putra Prima Tbk. [S] (Retail Trade,93) ....................................................................................................................................... 110
29. MYRX Hanson International Tbk. [S] (Investment Company, 98) .................................................................................................................... 114
30. PGAS Perusahaan Gas Negara (Persero) Tbk. [S] (Energy, 71).................................................................................................................... 118
31. PTBA Tambang Batubara Bukit Asam (Persero) Tbk. [S] (Coal Mining, 21) ............................................................................................ 122
32. PTPP PP (Persero) Tbk. [S] (Building Construction, 62) .................................................................................................. 126
33. PWON Pakuwon Jati Tbk. [S] (Property and Real Estate, 61) ........................................................................................................................... 130
34. SCMA Surya Citra Media Tbk. (Advertising, Printing And Media, 95) ........................................................................................................... 134
35. SILO Siloam International Hospitals Tbk. [S] (Healthcare, 96)....................................................................................................................... 138
36. SMGR Semen Indonesia (Persero) Tbk. [S] (Cement, 31) .................................................................................................................................. 142
37. SMRA Summarecon Agung Tbk. [S] (Property and Real Estate, 61) ................................................................................. 146
38. SRIL Sri Rejeki Isman Tbk. (Textile, Garment, 43) ........................................................................................................... 150
39. SSMS Sawit Sumbermas Sarana Tbk. [S] (Plantation, 12) ................................................................................................ 154
40. TBIG Tower Bersama Infrastructure Tbk. (Non Building Construction, 75) ...................................................................... 158
41. TLKM Telekomunikasi Indonesia (Persero) Tbk. [S] (Telecommunication, 73) ....................................................................................... 162
42. UNTR United Tractors Tbk. [S] (Wholesale (Durable and Non-Durable Goods, 91) .......................................................... 166
43. UNVR Unilever Indonesia Tbk. [S] (Cosmetics and Household, 54).............................................................................................................. 170
44. WIKA Wijaya Karya (Persero) Tbk. [S] (Building Construction, 62) .............................................................................................................. 174
45. WSKT Waskita Karya (Persero) Tbk. [S] (Building Construction, 62) ................................................................................. 178
NOTES
1. Trading Volume, Value and Frequency :
Figure of trading volume, value, and frequency are calculated once. Trading Frequency refers to numbers of transaction.
2. Foreign Ownership
In September 1997, the foreign ownership limitation was abolished except for banks (49% of total listed shares). In May 1999, the
maximum number of listed shares and foreign ownership on banks company was set to 99%, based on Government regulation
dated May 7th, 1999.
3. Number of listed shares
This figures refers to the total number of shares that is already listed and can be traded at the exchange
4. Market Capitalization
This figures indicates the aggregate number of listed shares multiplied by regular market closing price
5. Jakarta Composite Index
Jakarta Composite Index =

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

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

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

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

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

FOREWORDS
This publication is designated as a service to domestic investors and other capital market participants, as part of the nation-wide efforts
in educating and improving the dissemination of capital market information. These efforts are important in carrying out the task of
expanding the domestic investor base.
To improve the future editions of this publication, the readers’ comments and feedback would be highly appreciated.
Jakarta, February 2016
Research and Development Division

Indonesia Stock Exchange
© 2016 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 2016
COMPANY REPORT
AALI
ASTRA AGRO LESTARI TBK.
Company Profile

PT Astra Agro Lestari Tbk. was established dated October 3rd, 1988. The Company is
committed to manage oil palm plantation with locations spread over Sumatra, Kalimantan,
and Sulawesi, producing high quality Crude Palm Oil (CPO), to meet the demands of both
the domestic and export markets.
Apart from producing CPO, the Company also produces palm oil derivative products at its
refinery established in West Sulawesi. These palm oil derivative products are aimed to
satisfy the demands of the export market.
As one of the largest oil palm plantations in Indonesia which has been operating for 35
years, PT Astra Agro Lestari Tbk (Perseroan) may be considered as role model in
managing oil palm estates. Moreover, through a partnership model with the
communities, both through a plasma program and Income Generating Activities (IGA), the
Company was able to realize its vision to become a leading company and contribute to the
development and prosperity of the nation.

In addition to strengthening its position at the upstream sector by managing an area of
297,862 hectares comprising nucleus and plasma plantations, the Company also
strengthened its palm oil downstream business. Owning a palm oil refinery, PT Tanjung
Sarana Lestari in the Mamuju Utara Regency, West Sulawesi and 50% equity shares in PT
Kreasijaya Adhikarya in Dumai, Riau Province, has significantly strengthened the
Company’s competitiveness in the palm oil business chain.

PT Astra International Tbk. is the parent entity of the Company, whereas Jardine Matheson
Holdings Ltd, incorporated in Bermuda, is its ultimate parent entity. As of December 31st,
2015, the Company and subsidiaries had 36,214 permanent employees.
February 2016
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 2016 As of 29 January 2016
Main Board Individual Index : 1,321.932
Industry Sector : Agriculture (1) Listed Shares : 1,574,745,000
Industry Sub Sector : Plantation (12) Market Capitalization : 26,888,770,875,000
31 | 26.9T | 0.55% | 69.46%
49 | 7.61T | 0.56% | 78.38%
COMPANY HISTORY SHAREHOLDERS (January 2016)

Established Date : 03-Oct-1988 1. PT Astra International Tbk. 1,254,831,088 : 79.68%
Listing Date : 09-Dec-1997 2. Public (<5%) 319,913,912 : 20.32%
Under Writer IPO :
PT ABN AMRO Hoare Govett Indonesia DIVIDEND ANNOUNCEMENT
Securities Administration Bureau : Bonus Cash Recording Payment
F/I
PT Raya Saham Registra Year Shares Dividend Cum Date Ex Date Date Date
Plaza Central Building 2nd Fl. 1997 37.00 22-Jun-98 23-Jun-98 01-Jul-98 20-Jul-98 F
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1998 60.00 29-Oct-98 30-Oct-98 09-Nov-98 23-Nov-98 I
Phone : (021) 252-5666 1998 25.00 27-May-99 28-May-99 08-Jun-99 05-Jul-99 F
Fax : (021) 252-5028 1999 5:1 27-May-99 28-May-99 08-Jun-99 05-Jul-99 B
1999 45.00 31-May-00 02-Jun-00 12-Jun-00 26-Jun-00 F
BOARD OF COMMISSIONERS 2000 7.00 07-Jun-01 08-Jun-01 13-Jun-01 27-Jun-01 F
1. Prijono Sugiarto 2001 10.00 18-Jun-02 19-Jun-02 24-Jun-02 04-Jul-02 F
2. Anugerah Pekerti *) 2002 60.00 05-Jun-03 06-Jun-03 10-Jun-03 24-Jun-03 F
3. Chiew Sin Cheok 2003 90.00 04-Jun-04 07-Jun-04 09-Jun-04 23-Jun-04 F
4. Johannes Loman 2004 100.00 06-Dec-04 07-Dec-04 09-Dec-04 23-Dec-04 I
5. Soemadi Djoko Moerdjono Brotodiningrat *) 2004 150.00 06-Jun-05 07-Jun-05 09-Jun-05 23-Jun-05 F
*) Independent Commissioners 2005 325.00 12-May-06 15-May-06 17-May-06 01-Jun-06 F
2006 95.00 17-Oct-06 18-Oct-06 20-Oct-06 10-Nov-06 I
BOARD OF DIRECTORS 2006 230.00 11-Jun-07 12-Jun-07 14-Jun-07 25-Jun-07 I
1. Widya Wiryawan 2007 190.00 19-Oct-07 22-Oct-07 24-Oct-07 02-Nov-07 I
2. Bambang Palgoenadi 2007 625.00 16-Jun-08 17-Jun-08 19-Jun-08 30-Jun-08 F
3. Jamal Abdul Nasser 2008 350.00 23-Oct-08 24-Oct-08 28-Oct-08 11-Nov-08 I
4. Joko Supriyono 2008 155.00 04-Jun-09 05-Jun-09 09-Jun-09 23-Jun-09 F
5. Juddy Arianto 2009 220.00 30-Oct-09 02-Nov-09 04-Nov-09 11-Nov-09 I
6. Rudy 2009 685.00 08-Jun-10 09-Jun-10 11-Jun-10 25-Jun-10 F
2010 190.00 26-Oct-10 27-Oct-10 29-Oct-10 12-Nov-10 I
AUDIT COMMITTEE 2010 640.00 20-May-11 23-May-11 25-May-11 09-Jun-11 F
1. Soemadi Djoko Moerdjono Brotodiningrat 2011 300.00 24-Oct-11 25-Oct-11 27-Oct-11 10-Nov-11 I
2. Juliani Eliza Syaftari 2011 695.00 08-May-12 09-May-12 14-May-12 29-May-12 F
3. Ratna Wardhani 2012 230.00 16-Oct-12 17-Oct-12 19-Oct-12 05-Nov-12 I
2012 455.00 15-May-13 16-May-13 20-May-13 03-Jun-13 F
CORPORATE SECRETARY 2013 160.00 02-Oct-13 03-Oct-13 07-Oct-13 23-Oct-13 I
Rudy 2013 515.00 09-May-14 12-May-14 14-May-14 30-May-14 F
2014 244.00 09-Oct-14 10-Oct-14 14-Oct-14 28-Oct-14 I
HEAD OFFICE 2014 716.00 21-Apr-15 22-Apr-15 24-Apr-15 15-May-15 F
Jln. Pulo Ayang Raya Blok OR - I
Kawasan Industri Pulogadung ISSUED HISTORY
Jakarta 13930 Listing Trading
Phone : (021) 461-6555 No. Type of Listing Shares Date Date
Fax : (021) 461-6682, 461-6689 1. First Issue 125,800,000 09-Dec-97 09-Dec-97
2. Company Listing 1,132,200,000 T: 09-Dec-97 : 21-Jul-98
Homepage : www.astra-agro.co.id 3. Bonus Shares 251,600,000 06-Jul-99 06-Jul-99
Email : Investor@astra-agro.co.id 4. Option Conversion 12,005,000 T: 22-Apr-02 : 07-Jun-02
5. Option Conversion I & II 5,494,500 T: 10-Jun-02 : 22-Jan-03
6. Option Conversion II 18,108,500 T: 02-Jul-02 : 18-May-04
7. Option Conversion I 162,000 T: 14-Jan-03 : 31-Jan-03
8. Option Conversion II & III 9,856,500 T: 14-Jan-04 : 23-Apr-04
9. Option Conversion III 19,518,500 T: 15-Jan-04 : 13-May-05
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 2012 - January 2016 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
30,000 16.0 Jan-12 22,550 20,550 20,600 10,520 17,532 382,289 21
Feb-12 23,000 20,300 22,300 10,953 26,112 569,072 21
26,250 14.0 Mar-12 23,350 18,500 23,350 11,605 26,569 592,007 21
Apr-12 23,750 21,000 21,400 10,260 24,103 544,061 20
May-12 21,700 18,000 20,450 12,047 23,427 471,617 21
22,500 12.0
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
18,750 10.0
Aug-12 23,300 21,250 22,300 5,828 10,839 240,513 19
Sep-12 23,400 19,350 21,950 14,218 33,952 728,250 20
15,000 8.0
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
11,250 6.0 Dec-12 19,750 17,800 19,700 10,801 22,617 422,905 18
7,500 4.0 Jan-13 20,850 18,750 18,850 10,591 20,796 409,347 21

Feb-13 19,300 18,250 18,450 11,374 33,001 622,045 20
3,750 2.0 Mar-13 19,200 17,850 18,500 15,207 36,954 678,998 19
Apr-13 18,700 17,300 17,700 10,808 21,488 388,219 22
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
Jan-12 Jan-13 Jan-14 Jan-15 Jan-16
Jul-13 19,900 15,500 15,550 13,025 21,333 370,322 23
Aug-13 19,800 13,100 19,750 19,132 37,761 640,710 17
Sep-13 21,750 18,350 19,500 15,471 52,971 1,097,030 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-13 21,300 18,500 18,600 10,945 21,638 435,579 21
Agriculture Index Nov-13 23,400 18,050 22,250 12,858 35,024 759,116 20
January 2012 - January 2016 Dec-13 25,750 22,250 25,100 12,429 28,622 679,065 19
60%
Jan-14 25,800 20,650 21,475 44,874 40,059 875,810 20
45% Feb-14 25,750 21,250 25,500 32,016 37,535 879,827 20
Mar-14 27,900 24,400 26,000 42,550 37,625 991,848 20
30% Apr-14 29,475 25,125 29,400 36,774 29,006 788,587 20
May-14 29,850 26,600 27,325 32,492 30,003 842,728 18
18.1% Jun-14 29,350 26,050 28,175 26,838 28,216 770,842 21
15%
Jul-14 28,175 25,600 26,700 36,013 35,895 954,698 18
Aug-14 26,700 25,500 25,500 30,897 41,565 1,087,452 20
-
Sep-14 26,050 22,775 23,000 36,936 42,691 1,018,059 22
Oct-14 23,500 19,250 23,500 49,512 57,643 1,222,233 23
-15%
-19.9% Nov-14 25,450 22,775 24,000 32,960 31,250 749,632 20
-22.2% Dec-14 24,550 22,350 24,250 33,746 27,072 634,605 20
-30%
Jan-15 26,150 23,150 23,250 27,912 24,553 601,935 21

-45% Feb-15 26,500 23,275 24,650 29,712 29,124 726,319 19
Mar-15 26,525 23,150 24,300 26,722 25,084 637,986 22
-60% Apr-15 24,300 19,500 20,350 26,871 28,559 638,079 21
Jan 12 Jan 13 Jan 14 Jan 15 Jan 16 May-15 27,525 20,050 24,800 33,350 38,857 974,137 19
Jun-15 25,850 21,325 22,950 32,679 24,454 576,705 21
Jul-15 26,000 19,675 20,075 30,222 23,184 550,225 19
SHARES TRADED 2012 2013 2014 2015 Jan-16 Aug-15 20,850 14,425 17,125 28,690 22,867 412,376 20
Volume (Million Sh.) 268 388 439 355 32 Sep-15 18,750 14,800 18,125 36,232 30,935 544,607 21
Value (Billion Rp) 5,693 7,542 10,816 7,681 536 Oct-15 22,100 18,025 19,900 55,619 53,626 1,054,439 21
Frequency (Thou. X) 126 167 436 391 35 Nov-15 21,000 16,950 16,950 32,399 29,531 555,340 21
Days 246 244 242 244 20 Dec-15 18,150 15,375 15,850 30,614 24,679 408,397 19
Price (Rupiah) Jan-16 17,450 15,600 17,075 35,425 32,255 535,544 20

High 24,000 25,750 29,850 27,525 17,450
Low 17,800 13,100 19,250 14,425 15,600
Close 19,700 25,100 24,250 15,850 17,075
Close* 19,700 25,100 24,250 15,850 17,075
PER (X) 12.64 21.94 15.62 40.32 43.43

PER Industry (X) 33.17 15.46 19.34 1.32 0.57
PBV (X) 3.31 3.85 3.41 2.13 2.30
* Adjusted price after corporate action

Financial Data and Ratios Book End : December
Public Accountant : Tanudiredja, Wibisana, Rintis & Rekan (Member of PricewaterhouseCoopers Global Network)
BALANCE SHEET Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
(Million Rp except Par Value) Assets Liabilities
Cash & Cash Equivalents 838,190 227,769 709,090 611,181 294,441 22,500
Receivables 16,358 50,068 20,554 47,451 88,026

769,903 1,249,050 802,978 1,278,120 1,691,575 18,000
Inventories
Current Assets 1,886,387 1,780,395 1,691,694 2,403,615 2,814,123
13,500
Fixed Assets 3,424,194 4,918,673 6,493,712 8,335,003 9,361,731
Other Assets 285,155 150,998 422,305 403,741 324,410
9,000
Total Assets 10,204,495 12,419,820 14,964,431 18,559,354 21,512,371
Growth (%) 21.71% 20.49% 24.02% 15.91% 4,500
Current Liabilities 1,440,351 2,600,540 3,759,265 4,110,955 3,522,133 -

Long Term Liabilities 337,986 453,869 941,812 2,614,621 6,291,451 2011 2012 2013 2014 2015
Total Liabilities 1,778,337 3,054,409 4,701,077 6,725,576 9,813,584
Growth (%) 71.76% 53.91% 43.06% 45.91%
TOTAL EQUITY (Bill. Rp)
Authorized Capital 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 11,834 11,699
Paid up Capital 787,373 787,373 787,373 787,373 787,373 11,837
10,263
Paid up Capital (Shares) 1,575 1,575 1,575 1,575 1,575 9,365
500 500 500 500 500 8,426
Par Value
9,423
Retained Earnings 7,268,639 8,158,203 9,019,251 10,544,828 10,413,840

7,008
Total Equity 8,426,158 9,365,411 10,263,354 11,833,778 11,698,787

Growth (%) 11.15% 9.59% 15.30% -1.14% 4,593
INCOME STATEMENTS Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 2,178
Total Revenues 10,772,582 11,564,319 12,674,999 16,305,831 13,059,216

Growth (%) 7.35% 9.60% 28.65% -19.91%
-237
2011 2012 2013 2014 2015
Cost of Revenues 6,837,674 7,206,837 8,592,003 11,352,975 9,977,118

Gross Profit 3,934,908 4,357,482 4,082,996 4,952,856 3,082,098
TOTAL REVENUES (Bill. Rp)
Expenses (Income) 601,976 832,589 1,484,383 1,271,019 1,906,585
Operating Profit - - - - - 16,306
Growth (%)
16,306
12,675 13,059
12,979
11,564
- - - - - 10,773
Other Income (Expenses)
Income before Tax 3,332,932 3,524,893 2,598,613 3,681,837 1,175,513 9,653
Tax 834,367 1,004,627 694,729 1,059,765 479,829

Profit for the period 2,498,565 2,520,266 1,903,884 2,622,072 695,684 6,327
Growth (%) 0.87% -24.46% 37.72% -73.47%

3,000
Period Attributable 2,405,564 2,410,259 1,802,193 2,504,467 619,107 -326
Comprehensive Income 2,498,565 2,453,654 1,937,046 2,585,442 689,403 2011 2012 2013 2014 2015
Comprehensive Attributable 2,405,564 2,346,203 1,834,662 2,468,849 612,292
RATIOS Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 PROFIT FOR THE PERIOD (Bill. Rp)
Current Ratio (%) 130.97 68.46 45.00 58.47 79.90
2,622
Dividend (Rp) 995.00 685.00 675.00 960.00 - 2,621
2,499 2,520
EPS (Rp) 1,527.59 1,530.57 1,144.43 1,590.40 393.15

BV (Rp) 5,350.81 5,947.26 6,517.47 7,514.73 7,429.00 2,087 1,904
DAR (X) 0.17 0.25 0.31 0.36 0.46

DER(X) 0.21 0.33 0.46 0.57 0.84
1,552
ROA (%) 24.48 20.29 12.72 14.13 3.23

696
1,017
ROE (%) 29.65 26.91 18.55 22.16 5.95

GPM (%) 36.53 37.68 32.21 30.37 23.60 482
OPM (%) - - - - -
NPM (%) 23.19 21.79 15.02 16.08 5.33 -52
2011 2012 2013 2014 2015

Payout Ratio (%) 65.14 44.75 58.98 60.36 -
Yield (%) 4.59 3.48 2.69 3.96 -

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

ADHI has managed to show its ability as a leading construction company in Southeast
Asia, through competitiveness and proven experience by running successful construction
projects. ADHI could not have achieved success without the support and participation of
the public. ADHI plays an active role in developing CSR programs as well as the Company’s
Partnership and Environmental Preservation Program.

In accordance with the Long‐Term Business Plan of ADHI 2012‐2016, the Company plans
for corporate activities in five business lines in order to increase the value of ADHI. Those
business lines are Construction, EPC, Property, Realty and Investment in Infrastructure.
In our core business lines of construction and EPC services, our business development
strategy is focused on continuously enhancing our professionalism through quality
products and timely deliveries. Here, the role of ALC (ADHI Learning Center) comes into
the forefront. ALC has been in operations for more than a year, and its benefits are
already felt. Through ALC, ADHI personnel are equipped with the passion to excel, and
to always strive for quality by working intelligently and efficiently. With such passion, we
form another subsidiary entity –specialize in building construction– Adhi Persada Gedung
(APG).

In addition to the Construction and EPC businesses, the Company has operated and
profited from the Property and Realty businesses through two subsidiary entities, namely
Adhi Persada Properti (APP) and Adhi Persada Realti (APR). Expanding from the Property
business base, the Company has also made plans to develop four‐star hotels in Blok‐M
area Jakarta, and Surabaya; and three‐star hotels in Bekasi and Medan. This move is
designed to strengthen our Property business structure in the future, in addition to reap
the benefit of recurring income. Meanwhile, in the Realty business, we are adopting a
strategy of not only developing landed houses, but also managing commercial areas
(malls, lifestyle centers and shopping complexes) also with the aim of strengthening our
recurring income. From the point of view of market demand, the need for precast
concrete has grown significantly in support of major infrastructure projects. Modern
project management also requires applications in precast concrete technology that can
enhance project executions, whether in the form of concrete piles or other products. In
order to manage the business professionally, independent, and fast emerging, the
Company plan to establish a new subsidiary namely Adhi Persada Beton (APB).
February 2016
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 : 3,560,849,376
Industry Sub Sector : Building Construction (62) Market Capitalization : 9,080,165,908,800
81 | 9.08T | 0.19% | 84.27%
25 | 15.0T | 1.10% | 59.86%

Established Date : 11-Mar-1960 1. Negara Republik Indonesia 1,816,046,624 : 51.00%
Listing Date : 18-Mar-2004 2. Public (<5%) 1,744,802,752 : 49.00%
Under Writer IPO :
PT Ciptadana Sekuritas DIVIDEND ANNOUNCEMENT
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. M. Fadjroel Rachman 2010 32.35 04-Jul-11 05-Jul-11 07-Jul-11 20-Jul-11 F
2. Bobby AA. Nazief 2011 30.33 05-Jun-12 06-Jun-12 08-Jun-12 22-Jun-12 F
3. Hironimus Hilapok *) 2012 23.49 13-May-13 14-May-13 16-May-13 29-May-13 F
4. Muchlis Rantoni Luddin *) 2013 67.61 04-Apr-14 07-Apr-14 10-Apr-14 25-Apr-14 F
5. Rildo Ananda Anwar 2014 35.98 27-Mar-15 30-Mar-15 01-Apr-15 22-Apr-15 I
6. Wicipto Setiadi
*) Independent Commissioners ISSUED HISTORY
Listing Trading
BOARD OF DIRECTORS No. Type of Listing Shares Date Date
1. Kiswodarmawan 1. First Issue 397,188,000 18-Mar-04 18-Mar-04
2. Adji Satmoko 2. Company Listing 918,680,000 18-Mar-04 18-Mar-04
3. Budi Saddewa Soediro 3. Employee Management Buy Out (EMBO) 441,320,000 18-Mar-04 03-Jul-06
4. Djoko Prabowo 4. Employee Stock Allocation (ESA) 44,132,000 18-Mar-04 26-Jun-04
5. Haris Gunawan 5. Right Issue I 897,366,624 09-Oct-15 09-Oct-15
6. Pundjung Setya Brata 6. Right Issue I 259,180,948 13-Oct-15 13-Oct-15
7. Right Issue I 90,316,424 15-Oct-15 15-Oct-15
AUDIT COMMITTEE 8. Right Issue I 313,084,300 16-Oct-15 16-Oct-15
1. Muchlis R. Luddin 9. Right Issue I 169,499,395 19-Oct-15 19-Oct-15
2. Mukti Wibowo 10. Right Issue I 30,081,685 21-Oct-15 21-Oct-15
3. Syaiful
CORPORATE SECRETARY
Ki Syahgolang Permata
HEAD OFFICE
Jln. Raya Pasar Minggu Km.18
Jakarta - 12510
Phone : (021) 797-5312
Fax : (021) 797-5311
Homepage : www.adhi.co.id
Email : kiki@adhi.co.id

TRADING ACTIVITIES
Adhi Karya (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
3,400 240 Jan-12 720 570 690 8,235 193,549 126,624 21
Feb-12 750 680 710 4,743 129,177 92,626 21
2,975 210 Mar-12 800 700 800 4,622 107,316 79,249 21
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
2,550 180
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
2,125 150
Aug-12 960 830 900 4,771 85,274 76,887 19
Sep-12 1,090 870 1,040 5,588 119,462 116,886 20
1,700 120
Oct-12 1,440 1,000 1,410 12,885 284,217 345,507 22
Nov-12 1,910 1,360 1,890 13,164 272,742 431,698 20
1,275 90 Dec-12 2,100 1,630 1,760 24,655 363,628 674,866 18
850 60 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
425 30 Mar-13 3,175 2,400 3,100 17,226 224,360 635,962 19
Apr-13 3,175 2,700 2,975 19,520 242,917 711,019 22
May-13 3,925 2,950 3,900 22,507 284,753 931,777 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
Aug-13 3,200 1,690 1,980 22,891 227,303 516,385 17
Sep-13 2,275 1,510 2,025 71,392 1,395,702 2,639,571 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-13 2,150 1,830 1,950 44,551 759,652 1,504,721 21
Property, Real Estate and Bulding Construction Index Nov-13 1,970 1,570 1,600 22,975 298,528 524,666 20
595%
Jan-14 1,850 1,425 1,780 34,825 523,862 885,065 20
510% Feb-14 2,390 1,755 2,340 51,624 769,177 1,595,184 20
Mar-14 3,110 2,275 2,995 53,545 573,781 1,597,729 20
425% Apr-14 3,335 2,675 2,985 86,169 890,637 2,676,720 20
409.4%
May-14 3,340 2,950 3,130 50,309 514,322 1,636,032 18
340% Jun-14 3,150 2,620 2,785 45,534 320,944 925,441 21
Jul-14 3,420 2,725 3,110 77,411 678,458 2,147,006 18
Aug-14 3,230 3,025 3,070 40,426 298,984 938,382 20
255%
Sep-14 3,160 2,740 2,765 30,838 165,105 494,676 22
Oct-14 2,920 2,320 2,755 58,999 424,212 1,142,279 23
170%
Nov-14 2,810 2,435 2,780 56,416 568,723 1,501,669 20
103.1%
Dec-14 3,625 2,780 3,480 81,342 933,533 2,875,053 20
85%
Jan-15 3,780 3,320 3,695 64,117 576,447 2,067,005 21

19.6%
- Feb-15 3,870 3,330 3,440 64,269 520,481 1,843,502 19
Mar-15 3,475 2,990 3,055 49,578 297,973 949,746 22
-85% Apr-15 3,180 2,680 2,765 47,276 291,008 876,099 21
Jun-15 2,540 1,910 2,020 59,436 343,741 745,375 21
Jul-15 2,795 2,010 2,300 89,892 672,513 1,613,341 19
Volume (Million Sh.) 2,209 5,112 6,662 5,887 857 Sep-15 2,340 1,855 2,250 85,168 525,345 1,119,272 21
Value (Billion Rp) 2,571 11,472 18,415 15,087 2,028 Oct-15 2,410 1,850 2,230 102,153 1,201,936 2,604,099 21
Frequency (Thou. X) 105 341 667 767 71 Nov-15 2,345 2,105 2,200 55,399 540,360 1,214,604 21
Days 246 244 242 244 20 Dec-15 2,270 2,040 2,140 34,926 317,411 683,169 19
Price (Rupiah) Jan-16 2,580 2,070 2,550 70,823 856,813 2,027,511 20

High 2,100 4,000 3,625 3,870 2,580
Low 570 1,460 1,425 1,665 2,070
Close 1,760 1,510 3,480 2,140 2,550
Close* 1,493 1,281 2,953 2,140 2,550
PER (X) 14.84 6.70 46.54 41.61 49.58

PER Industry (X) 17.34 9.57 16.29 18.66 17.68
PBV (X) 2.68 1.76 4.10 4.55 5.42

Public Accountant : Amir Abadi Jusuf, Aryanto, Mawar & Rekan (Member of RSM International)
Cash & Cash Equivalents 552,203 948,846 1,939,960 811,412 4,317,348 17,500
Receivables 1,657,080 2,332,098 2,705,085 3,214,051 3,311,392

68,562 116,552 161,560 132,014 162,651 14,000
Inventories
Investment 197,644 62,804 60,034 45,250 399,640
10,500
Fixed Assets 220,861 187,437 271,257 496,096 1,099,427
Other Assets 18,154 34,248 65,081 27,893 186,808
7,000
Total Assets 6,112,954 7,872,074 9,720,962 10,458,882 16,761,064
Growth (%) 28.78% 23.49% 7.59% 60.26% 3,500
Bank Payable 192,017 200,920 211,800 771,500 1,620,236 -

Trade Payable 3,132,496 4,276,690 4,767,420 4,923,213 6,489,310 2011 2012 2013 2014 2015
Growth (%) 30.62% 22.14% 6.54% 33.21%
Authorized Capital 544,000 544,000 544,000 544,000 544,000 5,162
Paid up Capital 180,132 180,132 180,132 180,132 356,085 5,162
Paid up Capital (Shares) 1,801 1,801 1,801 1,801 3,561

Par Value 100 100 100 100 100
4,109
Retained Earnings 790,784 943,642 1,307,301 1,509,579 1,789,885

3,056
Total Equity 990,368 1,180,919 1,548,463 1,751,543 5,162,132

Growth (%) 19.24% 31.12% 13.11% 194.72% 2,003
1,548
1,752
1,181
990
INCOME STATEMENTS Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 950
Total Revenues 6,695,112 7,627,703 9,799,598 8,653,578 9,389,570

Growth (%) 13.93% 28.47% -11.69% 8.51%
-103
2011 2012 2013 2014 2015
Cost of Revenues 5,960,704 6,671,815 8,606,444 7,655,377 8,414,926

Gross Profit 799,042 1,043,220 1,247,711 998,202 974,644
Operating Expenses 385,498 531,378 425,009 273,318 123,915
Operating Profit 413,544 - - 724,884 850,730 9,800
9,390
Growth (%) 17.36% 8,654
9,800
7,628
6,695
7,800
Other Income (Expenses) -87,164 -88,526 -108,337 -125,327 -104,639

Income before Tax 326,380 423,315 714,365 599,557 746,091 5,801
Tax 143,687 209,998 305,927 267,896 281,066

Profit for the period 182,693 213,318 408,438 331,661 465,026
3,802
Growth (%) 16.76% 91.47% -18.80% 40.21%

1,803
Period Attributable 182,116 211,590 405,977 329,075 463,685 -196
Comprehensive Income 182,727 213,651 409,862 304,311 878,754 2011 2012 2013 2014 2015
Comprehensive Attributable 182,150 211,924 407,401 301,726 877,408
Dividend (Rp) 30.33 23.49 67.61 35.98 -
465
EPS (Rp) 101.10 117.46 225.38 182.69 130.22
408
BV (Rp) 549.80 655.59 859.63 972.37 1,449.69
DAR (X) 0.84 0.85 0.84 0.83 0.69 370
332
DER(X) 5.17 5.67 5.28 4.97 2.25

2.99 2.71 4.20 3.17 2.77
275
ROA (%) 213

183
ROE (%) 18.45 18.06 26.38 18.94 9.01 180
GPM (%) 11.93 13.68 12.73 11.54 10.38

OPM (%) 6.18 - - 8.38 9.06 86
NPM (%) 2.73 2.80 4.17 3.83 4.95

Payout Ratio (%) 30.00 20.00 30.00 19.70 -
-9
2011 2012 2013 2014 2015

Yield (%) 5.23 1.33 4.48 1.03 -

COMPANY REPORT
ADRO
ADARO ENERGY TBK.
Company Profile
PT Adaro Energy Tbk. was established July 28th, 2004. The Company is engaged in trading,
services, industry, coal hauling, workshop activities, mining and construction. The
Company’s subsidiaries are engaged in coal mining, coal trading, mining contractor
services, infrastructure, coal logistics and power generation activities.

The Company commenced its commercial operations in July 2005. The Company’s head
office is domiciled in Jakarta and located at Menara Karya Building, 23rd Floor, Jln. H.R.
Rasuna Said Block X‐5, Kav. 1‐2, South Jakarta.

PT Adaro Energy Tbk. is a vertically integrated group; in addition to its core mining
subsidiary Adaro Indonesia, it owns subsidiaries along the length of its coal supply chain
from pit to port to power, including in mining, barging, shiploading, dredging, port services,
marketing and power generation.

The subsidiaries combine with a range of contractors to produce and deliver coal with
industry‐leading efficiency and low cost.

As at December 31st, 2015 the Group had 7,847 permanent employees.
February 2016
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 : 47.727
Industry Sector : Mining (2) Listed Shares : 31,985,962,000
Industry Sub Sector : Coal Mining (21) Market Capitalization : 16,792,630,050,000
45 | 16.8T | 0.34% | 75.48%
46 | 8.43T | 0.62% | 76.65%

Established Date : 28-Jul-2004 1. PT Adaro Strategic Investments 14,045,425,500 : 43.91%
Listing Date : 16-Jul-2008 2. Garibaldi Thohir 1,976,632,654 : 6.18%
Under Writer IPO : 3. Public (<5%) 15,963,903,846 : 49.91%
PT Danatama Makmur
Securities Administration Bureau : DIVIDEND ANNOUNCEMENT
PT Ficomindo Buana Registrar Bonus Cash Recording Payment
F/I
Mayapada Tower 10th Fl. Suite 02 B, Jln. Jend. Sudirman Kav. 28, Year Shares Dividend Cum Date Ex Date Date Date
Karet - Setiabudi, Jakarta 12920 2008 11.80 25-Aug-09 26-Aug-09 28-Aug-09 11-Sep-09 F
Phone : (021) 521-2316, 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 15.30 24-Dec-13 27-Dec-13 02-Jan-14 16-Jan-14 I
2013 13.47 26-May-14 28-May-14 02-Jun-14 12-Jun-14 F
BOARD OF DIRECTORS 2014 11.73 24-Dec-14 29-Dec-14 02-Jan-15 16-Jan-15 I
1. Garibaldi Thohir 2014 18.52 30-Apr-15 04-May-15 06-May-15 27-May-15 F
2. Chia Ah Hoo 2015 15.29 28-Dec-15 29-Dec-15 04-Jan-16 15-Jan-16 I
3. Christian Ariano Rachmat
4. David Tendian ISSUED HISTORY
5. Julius Aslan Listing Trading
6. M. Syah Indra Aman No. Type of Listing Shares Date Date
7. Siswanto Prawiroatmodjo 1. First Issue 11,139,331,000 16-Jul-08 16-Jul-08
2. Company Listing 20,846,631,000 16-Jul-08 16-Apr-09
AUDIT COMMITTEE
1. Palgunadi Tatit Setyawan
2. Irwandy Arif
3. Mamat Ma'mun
CORPORATE SECRETARY
Mahardika Putranto
HEAD OFFICE
Menara Karya 23rd Fl.
Jln. H.R. Rasuna Said, Blok X-5, Kav. 1 - 2
Jakarta - 12950
Phone : (021) 521-1265, 255-33040
Fax : (021) 579-44687, 579-44648
Homepage : www.adaro.com
Email : mahardika.putranto@ptadaro.com
corsec@ptadaro.com

TRADING ACTIVITIES
Adaro Energy Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,200 320 Jan-12 1,860 1,750 1,830 36,837 999,140 1,807,345 21
Feb-12 2,025 1,790 1,920 42,144 1,294,177 2,500,859 21
1,925 280 Mar-12 1,980 1,870 1,930 33,313 1,076,242 2,056,482 21
Apr-12 1,970 1,770 1,860 31,778 801,403 1,481,681 20
May-12 1,880 1,460 1,470 31,426 824,427 1,400,499 21
1,650 240
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
1,375 200
Aug-12 1,610 1,330 1,370 25,007 589,119 876,431 19
Sep-12 1,610 1,350 1,500 26,552 550,208 825,189 20
1,100 160
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
825 120 Dec-12 1,610 1,320 1,590 28,273 1,065,599 1,578,648 18
550 80 Jan-13 1,770 1,590 1,650 35,702 693,704 1,175,414 21

Feb-13 1,680 1,550 1,570 29,234 578,305 922,195 20
275 40 Mar-13 1,580 1,250 1,310 34,568 1,179,303 1,701,990 19
Apr-13 1,370 1,190 1,230 28,764 699,841 898,296 22
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
Aug-13 940 640 930 42,185 1,653,523 1,307,578 17
Sep-13 1,030 870 900 45,303 1,566,310 1,494,923 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-13 1,130 890 1,020 42,712 1,230,844 1,250,459 21
Mining Index Nov-13 1,240 1,010 1,130 49,717 1,820,926 2,085,692 20
January 2012 - January 2016 Dec-13 1,250 1,040 1,090 35,467 1,059,797 1,223,837 19
60%
Jan-14 1,110 870 950 67,166 1,717,526 1,651,052 20
40% Feb-14 995 880 995 52,885 1,197,188 1,126,593 20
Mar-14 1,040 945 980 59,759 1,369,759 1,357,397 20
20% Apr-14 1,205 930 1,185 55,961 1,295,481 1,355,337 20
18.1%
May-14 1,320 1,100 1,225 60,224 1,439,612 1,768,558 18
- Jun-14 1,340 1,130 1,175 59,842 1,173,729 1,460,502 21
Jul-14 1,210 1,080 1,185 58,308 1,079,081 1,241,003 18
Aug-14 1,350 1,170 1,315 67,428 1,186,836 1,515,182 20
-20%
Sep-14 1,390 1,150 1,175 58,209 927,416 1,196,582 22
Oct-14 1,185 920 1,135 87,590 1,641,955 1,706,381 23
-40%
Nov-14 1,150 980 1,080 55,494 1,174,713 1,247,984 20
Dec-14 1,145 995 1,040 47,125 1,050,501 1,123,969 20
-60%
-69.9%
-71.3% Jan-15 1,050 925 1,000 70,943 1,137,115 1,117,884 21
-80% Feb-15 1,025 940 960 53,979 1,400,629 1,385,742 19
Mar-15 1,035 935 950 61,722 1,137,398 1,117,337 22
-100% Apr-15 990 835 875 49,786 716,447 686,954 21
Jan 12 Jan 13 Jan 14 Jan 15 Jan 16 May-15 940 835 860 42,790 883,826 789,582 19
Jun-15 925 755 760 44,264 547,730 454,253 21
Jul-15 775 550 590 58,960 1,163,030 730,274 19
SHARES TRADED 2012 2013 2014 2015 Jan-16 Aug-15 650 467 595 66,912 1,314,901 741,787 20
Volume (Million Sh.) 11,350 13,864 15,254 11,977 718 Sep-15 630 510 535 44,300 786,360 457,284 21
Value (Billion Rp) 18,253 15,019 16,751 9,198 349 Oct-15 710 515 595 72,138 1,316,804 825,705 21
Frequency (Thou. X) 392 469 730 647 50 Nov-15 660 525 550 40,268 801,156 481,184 21
Days 246 244 242 244 20 Dec-15 560 441 515 41,140 771,262 409,713 19
Price (Rupiah) Jan-16 540 437 525 49,972 717,704 348,594 20

High 2,025 1,770 1,390 1,050 540
Low 1,180 640 870 441 437
Close 1,590 1,090 1,040 515 525
Close* 1,590 1,090 1,040 515 525
PER (X) 13.78 12.29 9.27 4.68 4.77

PER Industry (X) 8.49 20.76 3.23 5.06 5.67
PBV (X) 1.76 0.89 0.81 0.33 0.34

Cash & Cash Equivalents 5,067,851 4,838,559 8,354,692 9,267,904 9,689,623 87,500
Receivables 4,396,801 4,692,058 3,822,657 3,571,196 2,732,288

475,345 623,589 1,260,706 1,203,096 1,004,079 70,000
Inventories
Current Assets 11,765,957 13,672,171 16,820,685 15,814,016 15,070,207
52,500
Fixed Assets 12,988,087 17,106,385 20,930,154 20,104,075 20,237,329
Other Assets 125,873 96,226 248,811 268,605 359,651
35,000
Total Assets 51,315,458 64,714,116 82,623,566 79,762,813 82,193,328
Growth (%) 26.11% 27.67% -3.46% 3.05% 17,500

Long Term Liabilities 22,103,586 27,056,457 33,927,838 29,595,155 29,672,453 2011 2012 2013 2014 2015
Growth (%) 22.57% 21.45% -9.66% -8.38%
Authorized Capital 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 46,252
Paid up Capital 3,198,596 3,198,596 3,198,596 3,198,596 3,198,596
40,535
46,252
39,203
Par Value 100 100 100 100 100
36,816
28,962
22,146
27,381
Total Equity 22,146,078 28,962,172 39,202,687 40,534,794 46,251,875

Growth (%) 30.78% 35.36% 3.40% 14.10% 17,946
Total Revenues 36,157,789 35,996,469 40,308,692 41,355,222 37,029,662

Growth (%) -0.45% 11.98% 2.60% -10.46%
-925
2011 2012 2013 2014 2015
Cost of Revenues 23,205,121 25,914,314 31,238,880 32,404,572 29,535,382

Gross Profit 12,952,668 10,082,155 9,069,812 8,950,649 7,494,280
Expenses (Income) 1,313,246 1,994,321 2,514,135 2,859,099 2,916,314
Operating Profit 11,639,422 8,087,833 6,555,677 6,091,551 4,577,967 40,309 41,355
37,030
Growth (%) -30.51% -18.94% -7.08% -24.85% 36,158
41,355
35,996
32,919
Other Income (Expenses) -2,547,745 -1,186,122 -1,411,062 -2,091,648 -716,019

Tax 4,085,207 3,195,132 2,331,558 1,721,080 1,779,012

Profit for the period 5,006,470 3,706,579 2,813,057 2,278,822 2,082,935 16,046
Growth (%) -25.96% -24.11% -18.99% -8.60%

7,609
Period Attributable 4,990,610 3,726,305 2,837,204 2,212,327 2,102,757 -827
Comprehensive Income 5,073,546 3,691,474 2,765,793 1,845,565 2,433,220 2011 2012 2013 2014 2015
Comprehensive Attributable 5,057,940 3,711,201 2,774,247 1,811,888 2,467,512
Current Ratio (%) 166.52 157.23 177.19 164.17 240.39
5,006
Dividend (Rp) 75.01 35.15 28.77 30.24 15.29 5,006
EPS (Rp) 156.03 116.50 88.70 69.17 65.74

3,707
BV (Rp) 692.37 905.47 1,225.62 1,267.27 1,446.01 3,985
DAR (X) 0.57 0.55 0.53 0.49 0.44 2,813

1.32 1.23 1.11 0.97 0.78
2,964
DER(X) 2,279
2,083
ROA (%) 9.76 5.73 3.40 2.86 2.53 1,943
ROE (%) 22.61 12.80 7.18 5.62 4.50

GPM (%) 35.82 28.01 22.50 21.64 20.24 921
OPM (%) 32.19 22.47 16.26 14.73 12.36

NPM (%) 13.85 10.30 6.98 5.51 5.63
-100
2011 2012 2013 2014 2015

Payout Ratio (%) 48.08 30.17 32.43 43.72 23.25
Yield (%) 4.24 2.21 2.64 2.91 2.97

COMPANY REPORT
AKRA
AKR CORPORINDO TBK.
Company Profile

The Company’s scope of activities comprises of chemical industry, general trading and
distribution of primarily chemical products and petroleum products and gas, engaging in
the logistics business, transportation (including for own use and for transport operations by
land or sea and operations of pipe for sea transportation infrastructure), rental of
warehouses and storage tanks, including workshop, expedition and packaging, conducting
a business and acting as a representative and/or an agent, with distributorship agreements
with foreign and local entities, contractors and other services except legal services.

The Company is currently engaged in the distribution of petroleum products to industrial
customers, distribution and trading of chemical products (such as caustic soda, sodium
sulphate, PVC resin and soda ash) used by various industries in Indonesia in accordance
with distributorship agreements with foreign and local manufacturers, rental of
warehouses, transportation vehicles, tanks and other logistic services.

The Company started its commercial operations in June 1978.

The Company is domiciled at Wisma AKR, 8th Floor, JIn. Panjang No. 5, Kebon Jeruk,
Jakarta. Its major branch office is located at JIn. Sumatra No. 51‐53, 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.
February 2016
Disclaimer:

AKRA AKR Corporindo Tbk. [S]
Industry Sector : Trade, Services & Investment (9) Listed Shares : 3,949,030,235
Industry Sub Sector : Wholesale (Durable & Non-Durable Goods) (91) Market Capitalization : 29,025,372,227,250
30 | 29.0T | 0.59% | 68.91%
29 | 13.0T | 0.95% | 63.97%

Established Date : 28-Nov-1977 1. PT Arthakencana Rayatama 2,336,456,120 : 59.17%
Listing Date : 03-Oct-1994 2. Public (<5%) 1,612,574,115 : 40.83%
Under Writer IPO :
PT Lippo Securities DIVIDEND ANNOUNCEMENT
F/I
Plaza Central Building 2nd Fl. 1994 50.00 11-Jul-95 12-Jul-95 20-Jul-95 11-Aug-95 F
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1995 230.00 From 30-Jan-95 Until 11-Jul-96 F
Phone : (021) 252-5666 1995 10 : 6 26-Feb-96 27-Feb-96 06-Mar-96 29-Mar-96 B
Fax : (021) 252-5028 1996 50.00 23-Jun-97 24-Jun-97 01-Aug-97 26-Aug-97 F
2002 25.00 03-Sep-03 04-Sep-03 08-Sep-03 19-Sep-03 F
BOARD OF COMMISSIONERS 2003 50.00 28-Jun-04 29-Jun-04 01-Jul-04 14-Jul-04 F
1. Soegiarto Adikoesoemo 2005 100.00 From 03-May-05 Until 19-Sep-06 F
2. I Nyoman Mastra *) 2006 65.00 27-Jun-07 28-Jun-07 02-Jul-07 16-Jul-07 F
3. Mahendra Siregar 2007 19.00 03-Jun-08 04-Jun-08 06-Jun-08 16-Jun-08 F
*) Independent Commissioners 2008 21.00 09-Jun-09 10-Jun-09 12-Jun-09 19-Jun-09 F
2009 25.00 25-May-10 26-May-10 31-May-10 14-Jun-10 F
BOARD OF DIRECTORS 2010 30.00 19-Nov-10 22-Nov-10 24-Nov-10 09-Dec-10 I
1. Haryanto Adikoesoemo 2010 135.00 11-Mar-11 14-Mar-11 16-Mar-11 29-Mar-11 I
2. Arief Budiman Utomo 2010 2.00 31-May-11 01-Jun-11 06-Jun-11 20-Jun-11 F
3. Bambang Soetiono Soedijanto 2011 200.00 22-Aug-11 23-Aug-11 25-Aug-11 08-Sep-11 I
4. Jimmy Tandyo 2011 25.00 06-Jun-12 07-Jun-12 11-Jun-12 25-Jun-12 F
5. Mery Sofi 2012 40.00 26-Dec-12 27-Dec-12 02-Jan-13 16-Jan-13 I
6. Nery Polim 2012 65.00 31-May-13 03-Jun-13 05-Jun-13 20-Jun-13 F
7. Suresh Vembu 2013 50.00 18-Sep-13 19-Sep-13 23-Sep-13 04-Oct-13 I
8. Ter Murti Tiban 2013 65.00 05-Jun-14 06-Jun-14 10-Jun-14 24-Jun-14 F
2014 50.00 09-Sep-14 10-Sep-14 12-Sep-14 26-Sep-14 I
AUDIT COMMITTEE 2014 80.00 12-May-15 13-May-15 18-May-15 29-May-15 F
1. I Nyoman Mastra 2015 100.00 07-Aug-15 08-Aug-15 12-Aug-15 21-Aug-15 I
2. Mari Elka Pangestu
3. Sahat Pardede 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; tami@akr.co.id 11. Opsi MSOP Conversion IV 195,000 T: 13-Oct-11 : 12-Apr-13
12. Opsi MSOP Conversion III, IV, V 28,907,500 09-Apr-12 09-Apr-12
13. Opsi MSOP Conversion III 550,000 10-Apr-12 10-Apr-12
14. Opsi MSOP Conversion IV, V 29,099,000 T: 09-Apr-13 : 10-Apr-13
15. MSOP V (2011) 3, I (2012) 2, I (2013) 1 22,714,000 T: 04-Apr-14 : 11-Apr-14
16. MSOP V (2011) 3, I (2012) 2, II (2013) 1 9,996,174 07-Oct-14 07-Oct-14
17. MSOP I (2012) 2, II (2013) 1 200,000 09-Oct-14 09-Oct-14
18. MSOP I (2012) v3, MSOP II (2013) v2 20,525,500 T: 06-Apr-15 : 07-Apr-15
19. MSOP I (2012) v3, MSOP II (2013) v2, MSOP 2014 5,549,400 T: 08-Apr-15 : 10-Apr-15
20. MSOP Tahap I Tahun 2012 Vesting 3 3,735,000 05-Oct-15 05-Oct-15
21. MSOP Tahap II Tahun 2013 Vesting 2 3,546,261 T: 05-Oct-15 : 08-Oct-15
22. MSOP Tahun 2014 Vesting 1 2,036,400 T: 07-Oct-15 : 12-Oct-15

TRADING ACTIVITIES
AKR Corporindo Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
7,800 160 Jan-12 3,650 3,000 3,650 39,838 414,607 1,404,452 21
Feb-12 3,900 3,500 3,600 22,274 284,426 1,042,116 21
6,825 140 Mar-12 4,425 3,550 4,300 24,831 311,040 1,231,547 21
Apr-12 4,350 4,000 4,125 23,979 243,621 1,019,079 20
May-12 4,200 3,325 3,375 23,693 271,922 1,014,240 21
5,850 120
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
4,875 100
Aug-12 3,750 3,325 3,500 18,714 297,106 1,049,276 19
Sep-12 4,275 3,450 4,250 20,476 278,456 1,072,492 20
3,900 80
Oct-12 4,550 3,975 4,450 18,786 216,605 931,478 22
Nov-12 4,700 4,225 4,300 17,677 217,527 962,649 20
2,925 60 Dec-12 4,325 3,950 4,150 16,535 226,058 935,688 18
1,950 40 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
975 20 Mar-13 5,550 4,425 5,000 14,741 189,877 947,949 19
Apr-13 5,350 4,850 5,150 17,228 166,257 851,310 22
May-13 5,500 4,850 5,350 19,669 183,716 958,295 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
Aug-13 4,950 3,475 3,975 22,430 245,307 1,040,139 17
Sep-13 4,650 3,500 4,000 22,308 275,681 1,093,424 21
Trade, Sevices and Investment Index Nov-13 5,050 4,425 4,675 19,926 204,324 972,950 20
175%
Jan-14 4,820 4,175 4,400 32,248 151,840 680,984 20
150% Feb-14 4,625 4,200 4,560 34,928 187,729 840,663 20
Mar-14 5,200 4,490 4,835 30,860 182,352 874,778 20
131.5%
125% Apr-14 5,200 4,625 4,770 34,583 161,251 781,369 20
May-14 4,750 4,125 4,125 30,225 175,805 789,077 18
100% Jun-14 4,640 4,175 4,330 26,447 178,895 790,700 21
Jul-14 4,750 4,255 4,400 26,710 188,850 855,524 18
Aug-14 5,375 4,400 5,250 25,846 165,098 786,913 20
75%
Sep-14 5,825 5,050 5,450 28,569 160,850 853,493 22
Oct-14 5,475 4,700 4,925 29,475 160,511 796,156 23
50%
Nov-14 4,950 4,540 4,650 30,471 192,944 900,889 20
33.4% Dec-14 4,680 3,950 4,120 54,597 234,929 1,040,676 20
25%
18.1%
Jan-15 4,750 4,110 4,695 50,776 274,374 1,245,406 21
- Feb-15 4,920 4,565 4,870 27,389 161,693 768,346 19
Mar-15 5,200 4,800 5,125 24,742 198,686 999,074 22
-25% Apr-15 5,675 4,960 5,200 32,243 261,347 1,384,596 21
Jun-15 6,225 5,100 5,925 24,500 114,486 645,479 21
Jul-15 6,100 5,200 5,750 34,681 155,464 877,200 19
Value (Billion Rp) 12,604 12,158 9,991 12,745 1,470 Oct-15 6,225 5,600 5,900 68,112 205,663 1,197,809 21
Days 246 244 242 244 20 Dec-15 7,300 6,075 7,175 45,178 156,416 1,055,458 19
Price (Rupiah) Jan-16 7,900 6,700 7,350 51,362 203,633 1,469,733 20

High 4,700 6,100 5,825 7,300 7,900
Low 3,000 3,475 3,950 4,110 6,700
Close 4,150 4,375 4,120 7,175 7,350
Close* 4,150 4,375 4,120 7,175 7,350
PER (X) 21.15 26.19 20.90 25.14 25.75

PER Industry (X) 19.08 15.42 22.13 12.43 12.79
PBV (X) 3.80 3.17 2.84 4.03 4.13

Public Accountant : Purwantono, Suherman & Surja (Member of Ernst & Young Global Limited)
Cash & Cash Equivalents 1,329,789 1,884,943 820,065 896,591 1,289,809 16,250
Receivables 2,189,012 3,224,397 4,351,773 4,350,615 3,093,357

1,250,135 1,415,169 1,823,246 934,877 2,598,793 13,000
Inventories
Current Assets 5,239,361 7,414,601 7,723,315 6,719,745 7,285,599
9,750
Fixed Assets 2,437,215 3,177,350 4,226,692 4,390,207 4,469,498
Other Assets 40,371 24,372 20,218 21,220 40,963
6,500
Total Assets 8,308,244 11,787,525 14,633,141 14,791,917 15,203,130
Growth (%) 41.88% 24.14% 1.09% 2.78% 3,250

Long Term Liabilities 873,528 2,435,399 2,676,688 2,646,978 3,045,552 2011 2012 2013 2014 2015
Growth (%) 60.09% 22.33% -4.74% -10.35%
Paid up Capital 382,199 385,144 388,073 391,364 393,971 7,286

5,363
Par Value 100 100 100 100 100
5,800
Retained Earnings 2,222,920 2,931,851 3,289,047 3,845,417 4,375,360 4,210

3,575
4,313
Total Equity 3,574,704 4,209,740 5,363,161 5,961,183 7,286,175

Growth (%) 17.76% 27.40% 11.15% 22.23% 2,827
Total Revenues 18,805,950 21,673,954 22,337,928 22,468,328 19,764,821

Growth (%) 15.25% 3.06% 0.58% -12.03%
-146
2011 2012 2013 2014 2015
Cost of Revenues 17,787,552 20,412,678 20,970,288 20,736,407 17,548,827

Gross Profit 1,018,398 1,261,276 1,367,641 1,731,920 2,215,994
Expenses (Income) 302,869 430,920 600,059 695,937 866,825
Operating Profit 715,529 830,356 767,582 1,063,170 1,349,170 22,338 22,468
21,674
Growth (%) 16.05% -7.56% 38.51% 26.90% 19,765
22,468
18,806
17,885
Other Income (Expenses) 24,443 -20,673 -37,581 -69,826 -32,149

Income before Tax 739,972 809,682 733,053 993,344 1,317,021 13,301
Tax 145,838 190,849 117,426 202,780 233,174

Profit for the period 2,284,080 618,833 615,627 790,563 1,058,741
8,718
Growth (%) -72.91% -0.52% 28.42% 33.92%

4,134
Period Attributable 2,293,427 649,314 648,250 810,094 1,033,630 -449
Comprehensive Income 2,331,631 755,870 980,588 739,586 1,084,776 2011 2012 2013 2014 2015
Comprehensive Attributable 2,339,138 775,371 969,250 756,333 1,046,610
Current Ratio (%) 135.73 144.19 117.14 108.67 149.56
2,284
Dividend (Rp) 225.00 105.00 115.00 130.00 100.00 2,284
EPS (Rp) 600.06 168.59 167.04 206.99 262.36

BV (Rp) 935.30 1,093.03 1,382.00 1,523.18 1,849.42 1,818
DAR (X) 0.57 0.64 0.63 0.60 0.52

1.32 1.80 1.73 1.48 1.09 1,059
1,352
DER(X)
ROA (%) 27.49 5.25 4.21 5.34 6.96 791
619 616
886
ROE (%) 63.90 14.70 11.48 13.26 14.53

GPM (%) 5.42 5.82 6.12 7.71 11.21 420
OPM (%) 3.80 3.83 3.44 4.73 6.83

NPM (%) 12.15 2.86 2.76 3.52 5.36
-46
2011 2012 2013 2014 2015

Payout Ratio (%) 37.50 62.28 68.84 62.80 38.12
Yield (%) 7.44 2.53 2.63 3.16 1.39

COMPANY REPORT
ANTM
ANEKA TAMBANG (PERSERO) TBK.
Company Profile
ANTAM is a vertically integrated, export‐oriented, diversified mining and metals company.
With operations spread throughout the mineral‐rich Indonesian archipelago, ANTAM
undertakes all activities from exploration, excavation, processing through to marketing of
nickel ore, ferronickel, gold, silver, bauxite and coal. The company has long term loyal blue
chip customers in Europe and Asia. Due to the vastness of the company's licensed
exploration areas as well as its known large holdings of high quality reserves and resources,
ANTAM has formed several joint ventures with international partners to profitably develop
geological ore bodies into profitable mines.
ANTAM's objectives are centered on increasing shareholder value. The company's main
objective is to enhance shareholder value by lowering costs while profitably expanding
operations in a sustainable manner. The strategy maintains focus on ANTAM's core business
of nickel, gold and bauxite with a view to maximizing output in order to increase cash
generation and lower unit costs. ANTAM plans to sustain growth through reliable expansion
projects, strategic alliances, increasing quality reserves and adding value by moving away
from selling raw materials and increasing processing activities. ANTAM will also maintain
financial strength. By generating as much cash as possible ANTAM ensures it will have
sufficient funds to repay debts, finance continued growth and pay dividends. Lowering costs
means operating more efficiently and productively, as well as increasing capacity to benefit
from economies of scale.
2015 was a challenging year for the global mining industry due lower commodity prices as a
result of the slowdown in global economy condition. Despite these challenges, in 2015
ANTAM‘s operational performance remained positive. ANTAM was focusing on innovation
and efficiency in its line of businesses. ANTAM also strived to create and implement its
winning strategy to capture the growth potential despite challenging times. ANTAM’s efforts
to ensure the successful delivery of its commitment will determine the company’s
sustainability. Through these efforts, ANTAM remained optimistic of its future.

February 2016
Disclaimer:

ANTM Aneka Tambang (Persero) Tbk. [S]
Industry Sub Sector : Metal And Mineral Mining (23) Market Capitalization : 7,906,121,594,525
91 | 7.91T | 0.16% | 85.98%
58 | 5.76T | 0.42% | 82.62%

Established Date : 05-Jul-1968 1. Negara Republik Indonesia 15,620,000,000 : 65.00%
Listing Date : 27-Nov-1997 2. Public (<5%) 8,410,764,725 : 35.00%
Under Writer IPO :
PT Danareksa Sekuritas DIVIDEND ANNOUNCEMENT
PT Bahana Securities Bonus Cash Recording Payment
F/I
PT Pentasena Arthasentosa Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1997 11.00 29-Jun-98 30-Jun-98 09-Jul-98 06-Aug-98 F
PT Datindo Entrycom 1997 11.59 01-Oct-98 02-Oct-98 12-Oct-98 09-Nov-98 F
Wisma Sudirman - Puri Datindo 1998 50.00 29-Jun-99 30-Jun-99 08-Jul-99 06-Aug-99 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 1998 53.87 04-Oct-99 05-Oct-99 13-Oct-99 10-Nov-99 F
Phone : (021) 570-9009 1999 79.19 05-Jun-00 06-Jun-00 14-Jun-00 28-Jun-00 F
2000 75.66 23-Oct-01 24-Oct-01 29-Oct-01 12-Nov-01 F
BOARD OF COMMISSIONERS 2001 100 : 55 10-Jul-02 11-Jul-02 17-Jul-02 30-Jul-02 B
1. Fachrul Razi 2001 47.10 05-Aug-02 06-Aug-02 09-Aug-02 23-Aug-02 F
2. Bambang Gatot Ariyono 2001 46.77 28-Oct-02 29-Oct-02 01-Nov-02 15-Nov-02 F
3. Hikmahanto Juawana *) 2002 34.42 17-Jul-03 18-Jul-03 21-Jul-03 05-Aug-03 F
4. Laode M. Kamaluddin *) 2003 38.60 18-Jun-04 21-Jun-04 23-Jun-04 30-Jun-04 F
5. Robert A. Simanjuntak 2004 19.60 23-Dec-04 27-Dec-04 29-Dec-04 10-Jan-05 I
6. Zaelani 2005 128.48 20-Jun-05 21-Jun-05 23-Jun-05 30-Jun-05
*) Independent Commissioners 2005 150.05 22-Jun-06 23-Jun-06 27-Jun-06 11-Jul-06 F
2006 325.58 21-Jun-07 22-Jun-07 26-Jun-07 06-Jul-07 F
BOARD OF DIRECTORS 2007 215.23 17-Jul-08 18-Jul-08 22-Jul-08 01-Aug-08 F
1. Tedy Badrujaman 2008 57.47 17-Jun-09 18-Jun-09 22-Jun-09 03-Jul-09 F
2. Agus Zamzam Jamaludin 2009 25.38 28-Jun-10 29-Jun-10 01-Jul-10 15-Jul-10 F
3. Dimas Wikan Pramudhito 2010 70.71 06-Jul-11 07-Jul-11 11-Jul-11 25-Jul-11 F
4. Hari Widjajanto 2011 90.99 27-Jun-12 28-Jun-12 02-Jul-12 16-Jul-12 F
5. I Made Surata 2012 47.09 29-May-13 30-May-13 03-Jun-13 18-Jun-13 F
6. Johan N.B Nababan 2013 9.67 29-Apr-14 30-Apr-14 05-May-14 20-May-14 F
AUDIT COMMITTEE ISSUED HISTORY

1. Laode M. Kamaluddin Listing Trading
2. Musyid Amal No. Type of Listing Shares Date Date
3. Rukmana Nugraha Adhi 1. Negara RI (Seri A) 1 27-Nov-97 16-Jun-10
4. Zaelani 2. First Issue 430,769,000 27-Nov-97 27-Nov-97
3. Company Listing 799,999,999 27-Nov-97 31-Jul-98
CORPORATE SECRETARY 4. Bonus Shares 676,922,950 30-Jul-02 30-Jul-02
Tri Hartono 5. Stock Split 7,630,767,800 12-Jul-07 12-Jul-07
6. Right Issue I 9,770,941,207 27-Oct-15 27-Oct-15
HEAD OFFICE 7. Right Issue I 1,419,898,697 28-Oct-15 28-Oct-15
Aneka Tambang Building 8. Right Issue I 1,738,706,667 30-Oct-15 30-Oct-15
Jln. Letjen TB. Simatupang No. 1 9. Right Issue I 1,144,096,939 02-Nov-15 02-Nov-15
Jakarta 12530 10. Right Issue I 418,661,465 03-Nov-15 03-Nov-15
Phone : (021) 780-5119, 789-1234, 781-2635
Fax : (021) 781-2822, 789-1224
Homepage : www.antam.com
Email : corsec@antam.com

TRADING ACTIVITIES
Aneka Tambang (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,400 800 Jan-12 1,900 1,610 1,880 21,460 294,174 514,604 21
Feb-12 2,025 1,850 1,960 19,018 218,301 421,270 21
2,100 700 Mar-12 1,950 1,760 1,800 18,690 202,265 372,554 21
Apr-12 1,880 1,690 1,720 20,048 217,725 386,105 20
May-12 1,740 1,130 1,150 36,598 698,455 899,892 21
1,800 600
Jun-12 1,420 1,120 1,340 44,270 961,176 1,208,483 21
Jul-12 1,430 1,250 1,280 19,719 276,788 374,594 22
1,500 500
Aug-12 1,310 1,200 1,240 13,345 113,522 141,641 19
Sep-12 1,430 1,220 1,350 25,003 318,219 429,649 20
1,200 400
Oct-12 1,380 1,260 1,280 18,561 182,987 239,942 22
Nov-12 1,310 1,220 1,240 12,016 107,020 135,154 20
900 300 Dec-12 1,310 1,220 1,280 14,100 229,189 290,864 18
600 200 Jan-13 1,450 1,280 1,360 22,216 334,911 459,571 21

Feb-13 1,410 1,260 1,290 21,263 276,248 370,664 20
300 100 Mar-13 1,410 1,270 1,370 21,935 369,713 498,521 19
Apr-13 1,460 1,340 1,380 29,241 379,964 531,390 22
May-13 1,390 1,260 1,280 12,742 163,731 219,021 22
Jun-13 1,280 960 1,000 19,890 222,828 239,560 19
Jul-13 1,320 930 1,160 35,090 484,551 558,097 23
Aug-13 1,420 1,160 1,330 28,844 459,193 604,265 17
Sep-13 1,540 1,290 1,420 26,297 466,526 670,454 21
Mining Index Nov-13 1,610 1,250 1,260 20,019 304,490 419,207 20
January 2012 - January 2016 Dec-13 1,300 990 1,090 25,778 383,286 449,913 19
120%
Jan-14 1,110 950 1,030 43,472 652,147 670,288 20
90% Feb-14 1,080 995 1,040 34,919 573,538 597,164 20
79.2% Mar-14 1,190 1,025 1,135 53,411 1,188,495 1,334,140 20
60% Apr-14 1,265 1,065 1,175 38,135 798,966 930,016 20
May-14 1,290 1,140 1,200 37,606 849,434 1,038,684 18
30% Jun-14 1,210 1,070 1,090 20,978 284,324 330,285 21
Jul-14 1,270 1,085 1,270 24,346 403,327 476,916 18
Aug-14 1,275 1,185 1,195 21,286 316,265 391,847 20
-
Sep-14 1,225 1,070 1,110 25,680 282,688 327,543 22
Oct-14 1,110 925 970 35,500 400,479 390,151 23
-30%
Nov-14 1,010 920 980 20,237 247,078 237,171 20
Dec-14 1,120 945 1,065 25,530 315,920 321,526 20
-60%
-65.2%
Jan-15 1,135 1,015 1,065 27,277 358,666 386,504 21
-83.0%
-90% Feb-15 1,080 990 1,005 15,857 198,657 206,880 19
Mar-15 1,020 850 865 18,637 173,597 176,292 22
-120% Apr-15 925 790 795 13,826 119,720 111,098 21
Jan 12 Jan 13 Jan 14 Jan 15 Jan 16 May-15 840 760 760 14,217 142,077 114,866 19
Jun-15 780 675 680 14,582 105,278 77,529 21
Jul-15 685 475 475 16,768 144,244 131,865 19
SHARES TRADED 2012 2013 2014 2015 Jan-16 Aug-15 655 450 500 46,189 739,580 428,743 20
Volume (Million Sh.) 3,820 4,137 6,313 12,009 2,411 Sep-15 540 465 486 34,277 416,378 208,489 21
Value (Billion Rp) 5,415 5,465 7,046 5,387 759 Oct-15 540 372 378 131,861 3,888,004 1,600,412 21
Frequency (Thou. X) 263 282 381 515 63 Nov-15 380 306 315 131,304 4,300,732 1,499,127 21
Days 246 244 242 244 20 Dec-15 337 285 314 50,579 1,421,659 445,595 19
Price (Rupiah) Jan-16 335 292 329 62,777 2,410,865 759,355 20

High 2,025 1,620 1,290 1,135 335
Low 1,120 930 920 285 292
Close 1,280 1,090 1,065 314 329
Close* 1,075 916 895 314 329
PER (X) 4.08 25.36 -13.51 -5.45 -5.71

PER Industry (X) 8.49 20.76 3.23 5.06 5.67
PBV (X) 0.95 0.81 0.84 0.56 0.59

Receivables 1,347,420 1,846,918 1,189,692 1,098,938 578,145

1,687,897 1,449,968 2,445,934 1,761,888 1,752,585 28,000
Inventories
Current Assets 9,108,020 7,646,851 7,080,437 6,343,110 11,252,827
21,000
Fixed Assets 2,980,743 4,663,449 6,700,156 8,699,660 12,267,804
Other Assets 34,688 61,874 72,239 88,724 81,249
14,000
Total Assets 15,201,235 19,708,541 21,865,117 22,044,202 30,356,851
Growth (%) 29.65% 10.94% 0.82% 37.71% 7,000
Current Liabilities 855,830 3,041,406 3,855,512 3,862,917 4,339,330 -

Long Term Liabilities 3,573,362 3,834,819 5,216,118 6,251,724 7,700,802 2011 2012 2013 2014 Dec-15
Growth (%) 55.25% 31.93% 11.50% 19.04%
Paid up Capital 953,846 953,846 953,846 953,846 2,403,076
Par Value 100 100 100 100 100 12,832 12,793

13,490
11,930
Total Equity 10,772,044 12,832,316 12,793,488 11,929,561 18,316,719

10,738
Growth (%) 19.13% -0.30% -6.75% 53.54% 7,986
5,234
Total Revenues 10,346,433 10,449,886 11,298,322 9,420,631 10,531,505

Growth (%) 1.00% 8.12% -16.62% 11.79%
-270
2011 2012 2013 2014 Dec-15
Cost of Revenues 7,318,735 8,427,158 9,682,521 8,644,136 10,336,364

Gross Profit 3,027,698 2,022,728 1,615,801 776,495 195,141
Expenses (Income) 1,014,820 1,126,864 1,194,769 955,900 896,579
Operating Profit 2,012,878 895,864 421,032 -179,405 -701,439 11,298
10,346 10,450 10,532
-55.49% -53.00% N/A -290.98%
11,298
Growth (%) 9,421

8,993
Other Income (Expenses) 555,903 2,999,631 -553,962 -653,730 -967,335

Income before Tax 2,568,781 3,895,495 -132,930 -833,135 -1,668,774 6,689
Tax 640,889 902,379 -542,878 -57,849 -227,921

Profit for the period 1,927,892 2,993,116 409,947 -775,286 -1,440,853
4,384
Growth (%) 55.25% -86.30% N/A -85.85%

2,079
Period Attributable 1,927,890 2,993,115 409,944 -775,287 -1,440,852 -226
Comprehensive Income 1,924,739 2,989,025 410,139 -775,179 912,556 2011 2012 2013 2014 Dec-15
Comprehensive Attributable 1,924,737 2,989,024 410,135 -775,180 912,557
Current Ratio (%) 1,064.23 251.42 183.64 164.21 259.32
2,993
Dividend (Rp) 90.99 47.09 9.67 - -
EPS (Rp) 202.12 313.79 42.98 -81.28 -59.96 2,589
1,928
BV (Rp) 1,129.33 1,345.32 1,341.25 1,250.68 762.22 1,783
DAR (X) 0.29 0.35 0.41 0.46 0.40

DER(X) 0.41 0.54 0.71 0.85 0.66 977
410
ROA (%) 12.68 15.19 1.87 -3.52 -4.75 2014 Dec-15
ROE (%) 17.90 23.32 3.20 -6.50 -7.87
170
GPM (%) 29.26 19.36 14.30 8.24 1.85 -636

2011 2012 2013
OPM (%) 19.45 8.57 3.73 -1.90 -6.66 -775
NPM (%) 18.63 28.64 3.63 -8.23 -13.68
-1,442
-1,441
Payout Ratio (%) 45.02 15.01 22.50 - -
Yield (%) 5.62 3.68 0.89 - -

COMPANY REPORT
ASII
ASTRA INTERNATIONAL TBK.
Company Profile
PT Astra International Tbk. was established in 1957 as PT Astra International Incorporated.
In 1990, the company changed its name to PT Astra International Tbk.

The scope of the company’s activities as set out in its Articles of Association are to engage
in general trading, industry, mining, transportation, agriculture, construction and
consultancy services. The subsidiaries’ main activities are the assembly and distribution of
automobiles, motorcycles and related spare parts, heavy equipment sales and rentals,
mining and related services, development of plantation, financial services, infrastructure,
and information technology.

The Companys’s largest shareholder is Jardine Cycle & Carriage Ltd., a company
incorporated in Singapore. Jardine Cycle & Carriage Ltd. is a subsidiary of Jardine Matheson
Holdings Ltd., a company incorporated in Bermuda.

As at 31 December 2015, the Company and its subsidiaries had 149,532 employees.
February 2016
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 : 261,118,917,753,000
6 | 261.1T | 5.33% | 39.87%
3 | 71.6T | 5.23% | 17.17%

Established Date : 20-Feb-1957 1. Jardine Cycle & Carriage Limited 20,288,255,040 : 50.11%
Listing Date : 04-Apr-1990 2. Public (<5%) 20,195,298,100 : 49.89%
Under Writer IPO :
F/I
Plaza Central Building 2nd Fl. 1990 100.00 05-Nov-90 06-Nov-90 13-Nov-90 27-Nov-90 I
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1990 150.00 02-May-91 03-May-91 13-May-91 10-Jun-91 F
Phone : (021) 252-5666 1991 100.00 12-Nov-91 13-Nov-91 20-Nov-91 16-Dec-91 I
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. Muhamad Chatib Basri *) 1994 80.00 22-Jun-95 23-Jun-95 03-Jul-95 31-Jul-95 F
3. Sidharta Utama *) 1995 90.00 25-Jun-96 26-Jun-96 04-Jul-96 31-Jul-96 F
4. Anthony John Liddell Nightingale 1996 120.00 30-Jun-97 01-Jul-97 09-Jul-97 29-Jul-97 F
5. Benjamin William Keswick 2003 50.00 01-Dec-03 02-Dec-03 04-Dec-03 18-Dec-03 I
6. Chiew Sin Cheok 2003 170.00 28-Jun-04 29-Jun-04 01-Jul-04 14-Jul-04 F
7. David Alexander Newbigging 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. Kyoichi Tanada *) 2005 100.00 09-Nov-05 10-Nov-05 14-Nov-05 24-Nov-05 I
10. Mari Elka Pangestu *) 2005 340.00 15-Jun-06 16-Jun-06 20-Jun-06 04-Jul-06 F
11. Mark Spencer Greenberg 2006 150.00 20-Oct-06 30-Oct-06 01-Nov-06 15-Nov-06 I
2007 160.00 29-Oct-07 30-Oct-07 01-Nov-07 15-Nov-07 I
BOARD OF DIRECTORS 2008 300.00 28-Oct-08 29-Oct-08 31-Oct-08 14-Nov-08 I
2. Widya Wiryawan 2009 830.00 16-Jun-10 17-Jun-10 21-Jun-10 05-Jul-10 F
3. Bambang Widjanarko Santoso 2010 470.00 27-Oct-10 28-Oct-10 01-Nov-10 15-Nov-10 I
4. Djoko Pranoto 2011 600.00 26-Oct-11 27-Oct-11 31-Oct-11 14-Nov-11 I
5. Djony Bunarto Tjondro 2011 1,380.00 16-May-12 21-May-12 23-May-12 06-Jun-12 F
6. Gunawan Geniusahardja 2012 66.00 18-Oct-12 19-Oct-12 23-Oct-12 07-Nov-12 I
7. Johannes Loman 2012 150.00 20-May-13 21-May-13 23-May-13 07-Jun-13 F
8. Simon Collier Dixon 2013 64.00 10-Oct-13 11-Oct-13 17-Oct-13 31-Oct-13 I
9. Sudirman Maman Rusdi 2013 152.00 22-May-14 23-May-14 28-May-14 12-Jun-14 F
10. Suparno Djasmin 2014 64.00 14-Oct-14 15-Oct-14 17-Oct-14 31-Oct-14 I
2014 152.00 06-May-15 07-May-15 11-May-15 29-May-15 F
AUDIT COMMITTEE 2015 64.00 25-Sep-15 28-Sep-15 30-Sep-15 21-Oct-15 I
1. Muhamad Chatib Basri
2. Chiew Sin Cheok ISSUED HISTORY
3. Harry Wiguna Listing Trading
4. Inget Sembiring No. Type of Listing Shares Date Date
1. First Issue 30,000,000 04-Apr-90 04-Apr-90
CORPORATE SECRETARY 2. Partial Listing 24,805,000 T: 04-Apr-90 : 04-Oct-90
Gita Tiffany Boer 3. Company Listing 184,893,000 T: 18-Dec-91 : 02-Jan-92
4. Koperasi 2,500,000 T: 18-Dec-91 : 31-Dec-99
HEAD OFFICE 5. Right Issue 1,453,219,775 T: 03-Jan-94 : 21-Jan-03
AMDI Building 6. Bonus Shares 871,912,800 08-Sep-94 08-Sep-94
Jln. Gaya Motor Raya No. 8 Sunter II 7. CB Conversion 280,837 T: 12-Mar-97 : 07-Aug-97
Jakarta 14330 8. Stock Split 37,598,029,063 T: 01-Sep-97 : 05-Jun-12
Phone : (021) 652-2555, 653-10418 9. Right Conversion 262,168,650 T: 24-Apr-00 : 19-Jan-04
Fax : (021) 651-2058, 2059, 653-04957 10. Option I 8,637,003 T: 16-Oct-00 : 16-Feb-01
11. Option I Conversion 16,203,924 T: 31-Jul-01 : 26-Apr-02
Homepage : www.astra.co.id 12. Option II Conversion 30,903,088 T: 26-Apr-02 : 25-May-04
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-12 79,650 73,500 78,900 31,100 60,335 4,672,194 21
Feb-12 79,200 67,100 70,850 68,125 130,669 9,466,255 21
8,750 210 Mar-12 74,200 68,750 73,950 48,766 83,919 5,984,168 21
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
7,500 180
Jun-12 64,200 6,400 6,850 61,324 816,809 6,070,144 21
Jul-12 7,100 6,250 7,000 65,520 943,478 6,342,540 22
6,250 150
Aug-12 7,400 6,600 6,750 44,874 635,813 4,486,738 19
Sep-12 7,550 6,700 7,400 41,289 694,972 5,034,167 20
5,000 120 Oct-12 8,300 7,250 8,050 47,388 931,778 7,387,900 22
Nov-12 8,000 7,200 7,250 59,594 832,310 6,351,667 20
3,750 90 Dec-12 7,700 6,800 7,600 58,107 918,874 6,627,662 18
2,500 60 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
1,250 30 Mar-13 8,300 7,500 7,900 54,594 849,305 6,681,437 19
Apr-13 8,000 7,150 7,350 52,759 694,670 5,273,240 22
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
Aug-13 6,800 5,100 6,050 58,095 660,601 4,038,190 17
Sep-13 7,500 5,400 6,450 69,701 1,169,088 7,443,312 21
Miscellaneous Industry Index Nov-13 6,850 6,150 6,250 54,611 662,358 4,332,899 20
January 2012 - January 2016 Dec-13 6,850 6,050 6,800 41,591 490,150 3,116,581 19
60%
Jan-14 7,400 6,250 6,425 86,235 784,137 5,339,224 20
45% Feb-14 7,000 6,225 6,950 81,243 984,624 6,596,656 20
Mar-14 8,000 6,725 7,375 94,022 1,300,924 9,611,270 20
30% Apr-14 8,050 7,350 7,425 91,055 1,107,076 8,532,595 20
May-14 7,800 7,075 7,075 76,478 925,623 6,955,904 18
18.1% Jun-14 7,525 7,075 7,275 72,784 680,106 4,942,665 21
15%
Jul-14 8,050 7,325 7,725 70,195 797,969 6,102,553 18
Aug-14 8,000 7,550 7,575 67,060 493,646 3,789,351 20
-
Sep-14 7,750 6,950 7,050 71,620 652,110 4,783,683 22
Oct-14 7,075 6,325 6,775 92,669 963,442 6,379,608 23
-15% -16.4% Nov-14 7,200 6,700 7,125 59,454 514,457 3,588,238 20
-20.0%
Dec-14 7,475 6,850 7,425 65,313 623,730 4,447,913 20
-30%
Jan-15 8,100 7,000 7,850 80,784 804,490 6,050,554 21

-45% Feb-15 8,175 7,450 7,850 72,728 692,429 5,401,520 19
Mar-15 8,575 7,800 8,575 77,266 1,094,749 8,817,908 22
-60% Apr-15 8,575 6,700 6,850 81,463 962,611 7,475,288 21
Jan 12 Jan 13 Jan 14 Jan 15 Jan 16 May-15 7,950 6,950 7,300 64,001 657,248 4,891,329 19
Jun-15 7,350 6,550 7,075 79,359 735,267 5,126,440 21
Jul-15 7,150 6,325 6,650 62,675 381,032 2,576,235 19
SHARES TRADED 2012 2013 2014 2015 Jan-16 Aug-15 6,875 5,450 5,925 83,564 881,000 5,385,567 20
Volume (Million Sh.) 6,209 9,508 9,828 10,141 1,287 Sep-15 6,200 4,975 5,225 79,802 590,132 3,412,962 21
Frequency (Thou. X) 610 669 928 1,011 100 Nov-15 6,850 5,800 5,925 105,808 1,168,021 7,428,850 21
Days 246 244 242 244 20 Dec-15 6,600 5,800 6,000 102,962 1,002,948 6,241,308 19
Price (Rupiah) Jan-16 6,450 5,700 6,450 100,020 1,286,937 7,745,522 20

High 79,650 8,300 8,050 8,575 6,450
Low 6,250 5,100 6,225 4,975 5,700
Close 7,600 6,800 7,425 6,000 6,450
Close* 7,600 6,800 7,425 6,000 6,450
PER (X) 13.70 14.18 15.56 15.19 16.32

PER Industry (X) 18.33 13.91 14.44 3.24 3.78
PBV (X) 3.43 2.59 2.60 1.92 2.06

Receivables 37,405,000 38,608,000 51,645,000 54,759,000 53,005,000

11,990,000 15,285,000 14,433,000 16,986,000 18,337,000 210,000
Inventories
Current Assets 65,978,000 75,799,000 88,352,000 97,241,000 105,161,000
157,500
Fixed Assets 28,604,000 34,326,000 37,862,000 41,250,000 41,702,000
Other Assets 1,043,000 1,824,000 2,490,000 2,869,000 2,978,000
105,000
Total Assets 153,521,000 182,274,000 213,994,000 236,029,000 245,435,000
Growth (%) 18.73% 17.40% 10.30% 3.99% 52,500

Growth (%) 19.02% 16.60% 7.33% 2.76%
120,324
Paid up Capital 2,024,178 2,024,178 2,024,178 2,024,178 2,024,000 126,610
106,188
Par Value 500 50 50 50 50
100,782
89,814
55,628,000 66,289,000 77,076,000 87,459,000 92,989,000 75,838

Retained Earnings
74,953
Total Equity 75,838,000 89,814,000 106,188,000 120,324,000 126,533,000

Growth (%) 18.43% 18.23% 13.31% 5.16% 49,125
Total Revenues 162,564,000 188,053,000 193,880,000 201,701,000 184,196,000

Growth (%) 15.68% 3.10% 4.03% -8.68%
-2,532
2011 2012 2013 2014 Dec-15
Cost of Revenues 130,530,000 151,853,000 158,569,000 162,892,000 147,486,000

Gross Profit 32,034,000 36,200,000 35,311,000 38,809,000 36,710,000
Expenses (Income) 14,202,000 8,302,000 7,788,000 11,457,000 17,080,000
188,053 193,880
184,196
Growth (%)
162,564
160,554
Other Income (Expenses) - - - - -

Tax 4,695,000 5,156,000 5,226,000 5,227,000 4,017,000

Growth (%) 7.90% -1.96% -0.77% -29.43%

37,113
Period Attributable 17,785,000 19,421,000 19,417,000 19,181,000 14,464,000 -4,034
Comprehensive Income 21,348,000 22,460,000 23,708,000 22,151,000 16,454,000 2011 2012 2013 2014 Dec-15
Current Ratio (%) 136.40 139.91 124.20 132.26 137.93
22,742 22,297 22,125
Dividend (Rp) 1,980.00 216.00 216.00 216.00 64.00 21,077
EPS (Rp) 4,393.14 479.73 479.63 473.80 357.31
BV (Rp) 18,733.04 2,218.53 2,622.99 2,972.17 3,125.82 18,103
15,613
DAR (X) 0.51 0.51 0.50 0.49 0.48
1.02 1.03 1.02 0.96 0.94
13,463
DER(X)
ROA (%) 13.73 12.48 10.42 9.37 6.36 8,824
ROE (%) 27.79 25.32 21.00 18.39 12.34

GPM (%) 19.71 19.25 18.21 19.24 19.93 4,185
OPM (%) - - - - -
NPM (%) 12.97 12.09 11.50 10.97 8.48
-455
2011 2012 2013 2014 Dec-15

Payout Ratio (%) 45.07 45.03 45.04 45.59 17.91
Yield (%) 2.68 2.84 3.18 2.91 1.07

COMPANY REPORT
ASRI
ALAM SUTERA REALTY TBK.
Company Profile

PT Alam Sutera Realty Tbk. was established on November 3rd, 1993. The Company
commenced its operational activity and purchased the land in 1999.

The Company’s activities are developing and manage housing. Group is domiciled at Wisma
Argo Manunggal, Jln. Jend. Gatot Subroto Kav. 22, Jakarta and has real estate projects
which are located at:
 Kec. Serpong, Kab. Tangerang, and Kec. Pasar Kemis, Kab. Tangerang, Province
Banten,
 Kec. Setia Budi, Jakarta Selatan,
 Kec. Kuta Selatan, Badung, Bali.

And owns lands for development located in:
 Kec. Pinang, Kec. Pasar Kemis, Kab. Tangerang, Province Banten,
 Kec. Pacet, Kab. Cianjur, Province West Java
 Kec. Tanjung Pinang, Province Riau,
 Kec. Denpasar Selatan and Badung, Bali.

The main real estate project owned by the Company and Subsidiaries recently are Alam
Sutera Residential and Commercial projects in Serpong, and Suvarna Padi and Suvarna
Sutera projects in Pasar Kemis, Tangerang.

Alam Sutera believes that all the development efforts must take environmental issues into
account seriously. The eco‐friendly development meant more than a marketing gimmick—
it is the company’s commitment. The Company is committed to do their part in the
handling of millions of tons of pollution in their environment every day, by setting an
example how to develop a sustainable green community.

The Company has direct ownership in subsidiaries: PT Delta Mega Persada, PT Duta
Prakarsa Development, PT Nusa Cipta Pratama, PT Garuda Adhimatra Indonesia, PT
Tangerang Matra Real Estate, Alam Sutera International Pte. Ltd., and Alam Synergy Pte.
Ltd.

The Company and subsidiaries had 1,493 employees as of 31 December 2015.
February 2016
Disclaimer:

ASRI Alam Sutera Realty Tbk. [S]
Industry Sub Sector : Property And Real Estate (61) Market Capitalization : 6,307,461,216,048
106 | 6.31T | 0.13% | 88.16%
36 | 10.5T | 0.77% | 69.75%

Established Date : 03-Nov-1993 1. PT Manunggal Prime Development 5,161,690,364 : 26.27%
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%) 9,533,621,524 : 48.52%
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. Harjanto Tirtohadiguno 2012 14.60 25-Jun-13 26-Jun-13 28-Jun-13 12-Jul-13 F
2. Angeline Sutedja 2014 7.00 30-Jun-15 01-Jul-15 03-Jul-15 24-Jul-15 F
3. The Nicholas
4. Pingki Elka Pangestu *) ISSUED HISTORY
5. Prasasto Sudyatmiko *) Listing Trading
*) Independent Commissioners No. Type of Listing Shares Date Date
1. First Issue 3,142,000,000 18-Dec-07 18-Dec-07
BOARD OF DIRECTORS 2. Company Listing 13,986,810,000 18-Dec-07 18-Aug-08
1. Joseph Sanusi Tjong 3. Warrant 4,974,500 11-Jun-09 11-Jun-09
2. Andrew Charles Walker 4. Warrant 40,050,000 18-Jun-09 18-Jun-09
3. Lilia Setiprawarti Sukotjo 5. Warrant 1,000,000 19-Jun-09 19-Jun-09
4. RM Frangky AD 6. Warrant 18,500,000 22-Jun-09 22-Jun-09
7. Warrant 20,000,000 28-Jul-09 28-Jul-09
AUDIT COMMITTEE 8. Warrant 250,000 12-Oct-09 12-Oct-09
1. Prasasto Sudyatmiko 9. Warrant 3,325,000 14-Oct-09 14-Oct-09
2. Hidajat Hoesni 10. Warrant 55,000,000 23-Oct-09 23-Oct-09
3. Sri Wahyuni Sujono 11. Warrant 45,500,000 27-Oct-09 27-Oct-09
12. Warrant 27,500,000 28-Oct-09 28-Oct-09
CORPORATE SECRETARY 13. Warrant 63,108,500 29-Oct-09 29-Oct-09
Vincent T.W. Sjahbana 14. Warrant 15,000,000 03-Nov-09 03-Nov-09
15. Warrant 60,000,000 24-Nov-09 24-Nov-09
HEAD OFFICE 16. Warrant 27,500,000 26-Nov-09 26-Nov-09
Wisma Argo Manunggal 18th Fl. 17. Warrant 388 03-Dec-09 03-Dec-09
Jln. Jend. Gatot Subroto Kav. 22 18. Warrant 27,500,000 10-Dec-09 10-Dec-09
Jakarta 12930 19. Warrant 277,976,000 14-Dec-09 14-Dec-09
Phone : (021) 3043-8888, 252-3838 20. Warrant 15,000,000 15-Dec-09 15-Dec-09
Fax : (021) 252-5050 21. Warrant 1,695,000 21-Dec-09 21-Dec-09
22. Warrant 30,412,500 28-Dec-09 28-Dec-09
Homepage : www.alam-sutera.com 23. Additional Listing without RI 1,786,310,000 25-Jan-12 25-Jan-12
Email : corsec@alam-sutera.com
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 4,000 Jan-12 520 455 485 24,608 3,163,247 1,462,365 21
Feb-12 610 480 570 26,234 3,013,912 1,651,814 21
1,050 3,500 Mar-12 630 560 620 22,571 2,116,918 1,272,835 21
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
900 3,000
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
750 2,500
Aug-12 495 430 440 28,541 1,985,545 910,746 19
Sep-12 520 410 495 30,974 2,734,556 1,274,455 20
600 2,000
Oct-12 580 470 580 26,538 2,210,093 1,173,362 22
Nov-12 620 550 610 15,187 2,653,169 1,535,319 20
450 1,500 Dec-12 640 550 600 15,745 1,766,756 1,065,978 18
300 1,000 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
150 500 Mar-13 1,160 930 1,070 36,275 2,093,327 2,178,327 19
Apr-13 1,090 970 1,050 41,384 2,555,637 2,636,209 22
May-13 1,130 1,020 1,060 43,176 2,136,655 2,296,257 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
Aug-13 830 445 550 45,493 2,264,238 1,407,217 17
Sep-13 760 450 600 58,331 3,063,421 1,822,815 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-13 700 560 610 43,176 4,867,653 3,050,634 21
Property, Real Estate and Bulding Construction Index Nov-13 610 455 475 43,705 2,060,989 1,091,598 20
January 2012 - January 2016 Dec-13 530 425 430 32,921 1,686,157 800,565 19
150%
Jan-14 550 424 510 53,655 2,182,118 1,083,703 20
125% Feb-14 605 500 575 46,156 2,449,458 1,364,848 20
Mar-14 680 560 595 54,398 2,986,797 1,854,302 20
100% 103.1% Apr-14 645 525 530 44,870 1,895,164 1,085,403 20
May-14 550 494 500 34,759 1,321,748 683,943 18
75% Jun-14 499 435 442 38,963 782,146 360,303 21
Jul-14 560 440 525 53,818 2,225,772 1,155,784 18
Aug-14 570 497 510 36,313 1,908,074 1,010,420 20
50%
Sep-14 510 451 455 40,311 906,677 442,646 22
Oct-14 490 430 464 49,400 1,057,391 484,283 23
25%
19.6% Nov-14 565 444 560 43,394 1,656,102 834,439 20
Dec-14 610 497 560 48,903 3,168,955 1,743,856 20
-
Jan-15 620 550 595 29,139 1,821,531 1,069,965 21

-25% Feb-15 700 585 670 36,985 2,518,964 1,623,053 19
-31.0%
Mar-15 675 525 555 61,613 2,758,825 1,604,821 22
-50% Apr-15 680 545 615 36,708 2,218,790 1,396,763 21
Jan 12 Jan 13 Jan 14 Jan 15 Jan 16 May-15 675 600 600 28,356 1,153,314 745,260 19
Jun-15 625 500 575 39,772 1,309,474 732,783 21
Jul-15 585 505 505 31,143 1,266,002 700,001 19
Volume (Million Sh.) 29,410 31,672 22,540 22,460 554 Sep-15 362 307 316 53,105 1,676,933 572,259 21
Value (Billion Rp) 15,370 24,781 12,104 11,426 182 Oct-15 428 317 389 104,304 3,309,709 1,294,183 21
Frequency (Thou. X) 297 511 545 578 28 Nov-15 396 323 339 58,540 1,555,477 559,415 21
Days 246 244 242 244 20 Dec-15 372 323 343 29,391 711,010 251,865 19
Price (Rupiah) Jan-16 352 317 321 27,569 553,709 182,447 20

High 650 1,160 680 700 352
Low 410 425 424 307 317
Close 600 430 560 343 321
Close* 600 430 560 343 321
PER (X) 9.69 9.64 10.08 11.30 10.57

PER Industry (X) 17.34 9.57 16.29 18.66 17.68
PBV (X) 2.49 1.58 1.81 1.02 0.96

Public Accountant : Paul Hadiwinata, Hidajat, Arsono, Achmad, Suharli & Rekan (Member of PKF International Ltd)
Cash & Cash Equivalents 844,906 1,641,316 890,181 880,754 638,388 20,000
Receivables 21,596 29,721 84,690 192,197 153,124

2,395,213 1,661,094 937,153 930,602 1,156,083 16,000
Inventories
Investment - - - - -
12,000
Fixed Assets 341,514 708,121 801,678 957,762 1,097,190
Other Assets 806,319 11,619 61,186 74,140 64,345
8,000
Total Assets 6,007,548 10,946,417 14,428,083 16,924,367 18,709,870
Growth (%) 82.21% 31.81% 17.30% 10.55% 4,000
Bank Payable 554,227 795,658 45,000 230,000 1,072,260 -

Trade Payable 35,519 35,257 165,089 160,587 1,033,021 2011 2012 2013 2014 Dec-15
Growth (%) 92.96% 46.37% 16.02% 14.73%
6,371
Paid up Capital 1,786,310 1,964,941 1,964,941 1,964,941 1,964,941 6,371

100 100 100 100 100 4,732
Par Value 5,071
Retained Earnings 977,938 2,050,204 2,640,107 3,599,980 4,061,177

Total Equity 2,786,872 4,731,875 5,331,785 6,371,194 6,602,410
3,772
2,787
Growth (%) 69.79% 12.68% 19.49% 3.63% 2,472
Total Revenues 1,381,046 2,446,414 3,684,240 3,630,914 2,783,700

Growth (%) 77.14% 50.60% -1.45% -23.33%
-127
2011 2012 2013 2014 Dec-15
Cost of Revenues 566,656 979,517 1,846,814 1,324,196 727,637

Gross Profit 814,391 1,466,897 1,837,425 2,306,718 2,056,063
Operating Expenses 120,770 212,884 304,204 398,953 1,297,106
Operating Profit 693,620 1,254,013 1,533,221 1,907,766 - 3,684 3,631
Growth (%) 80.79% 24.43%

3,684
2,933
2,784
2,446
Other Income (Expenses) -22,477 90,182 -451,445 -521,999 -
Income before Tax 671,143 1,344,195 1,081,776 1,385,767 758,957 2,181
Tax 68,407 128,103 192,199 208,812 74,670 1,381

Profit for the period 602,737 1,216,092 889,577 1,176,955 684,288
1,429
Growth (%) 101.76% -26.85% 32.31% -41.86%

678
Period Attributable 601,654 1,192,716 876,785 1,176,955 596,515 -74
Comprehensive Income 602,737 1,216,092 889,577 1,176,955 686,485 2011 2012 2013 2014 Dec-15
Comprehensive Attributable 601,654 1,192,716 876,785 1,097,418 598,743
Dividend (Rp) 6.13 14.60 - 7.00 -
1,216 1,177
EPS (Rp) 33.68 60.70 44.62 59.90 30.36 1,216
BV (Rp) 156.01 240.82 271.35 324.24 336.01

890
DAR (X) 0.54 0.57 0.63 0.62 0.65 968
DER(X) 1.16 1.31 1.71 1.66 1.83 684

603
10.03 11.11 6.17 6.95 3.66
720
ROA (%)
ROE (%) 21.63 25.70 16.68 18.47 10.36 472
GPM (%) 58.97 59.96 49.87 63.53 73.86

OPM (%) 50.22 51.26 41.62 52.54 - 224
NPM (%) 43.64 49.71 24.15 32.41 24.58

Payout Ratio (%) 18.20 24.05 - 11.69 -
-24
2011 2012 2013 2014 Dec-15

Yield (%) 1.33 2.43 - 1.25 -

COMPANY REPORT
BBCA
BANK CENTRAL ASIA TBK.
Company Profile
PT Bank Central Asia Tbk. was established under the name N.V. Perseroan Dagang dan
Industrie Semarang Knitting Factory on October 10th, 1955. The name has changed for
several time, the last change was on May 21st, 1974, which is PT Bank Central Asia.
The Bank began operations in banking since the date of October 12, 1956. The Bank
operates as a commercial bank. Bank engaged in banking and other financial services in
accordance with the regulations applicable in Indonesia.
As of December 31st, 2015, BCA had 985 domestics branches and 2 overseas
representatives located in Singapore and Hong Kong.
BCA has direct and indirect ownership in subsidiaries: PT BCA Finance, BCA Finance
Limited, PT Bank BCA Syariah, PT BCA Sekuritas, PT Asuransi Umum BCA, and PT Central
Santosa Finance.
BCA had 24,814 permanent employees.
February 2016
Disclaimer:

BBCA Bank Central Asia Tbk.
Industry Sector : Finance (8) Listed Shares : 24,408,459,120
Industry Sub Sector : Bank (81) Market Capitalization : 319,750,814,472,000
3 | 319.8T | 6.53% | 23.23%
5 | 64.9T | 4.73% | 26.99%

Established Date : 10-Aug-1955 1. UOB Kay Hian Private Limited For Farindo Investment 11,125,990,000 : 45.58%
Listing Date : 31-May-2000 2. Public (<5%) 13,282,469,120 : 54.42%
Under Writer IPO :
F/I
Securities Administration Bureau : Year Shares Dividend Cum Date Ex Date Date Date
PT Raya Saham Registra 2001 85.00 14-Nov-01 15-Nov-01 20-Nov-01 04-Dec-01 I
Plaza Central Building 2nd Fl. 2001 140.00 29-Oct-02 30-Oct-02 01-Nov-02 15-Nov-02 F
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 2002 225.00 03-Dec-03 04-Dec-03 08-Dec-03 19-Dec-03 F
Phone : (021) 252-5666 2003 225.00 30-Jun-04 01-Jul-04 06-Jul-04 20-Jul-04 F
Fax : (021) 252-5028 2004 50.00 22-Nov-04 23-Nov-04 25-Nov-04 08-Dec-04 F
2005 80.00 19-Jul-05 20-Jul-05 22-Jul-05 05-Aug-05
BOARD OF COMMISSIONERS 2005 50.00 06-Oct-05 07-Oct-05 11-Oct-05 25-Oct-05 I
1. Djohan Emir Setijoso 2005 90.00 06-Jun-06 07-Jun-06 09-Jun-06 23-Jun-06 F
2. Cyrillus Harinowo *) 2006 55.00 10-Oct-06 11-Oct-06 13-Oct-06 03-Nov-06 I
3. Raden Pardede *) 2006 115.00 08-Jun-07 11-Jun-07 13-Jun-07 27-Jun-07 I
4. Sigit Pramono *) 2007 55.00 29-Nov-07 30-Nov-07 04-Dec-07 18-Dec-07 I
5. Tonny Kusnadi 2007 63.50 12-Jun-08 13-Jun-08 17-Jun-08 01-Jul-08 F
*) Independent Commissioners 2008 35.00 15-Jan-09 16-Jan-09 20-Jan-09 30-Jan-09 I
2008 65.00 09-Jun-09 10-Jun-09 12-Jun-09 26-Jun-09 F
BOARD OF DIRECTORS 2009 40.00 12-Nov-09 13-Nov-09 17-Nov-09 02-Dec-09 I
1. Jahja Setiaatmadja 2009 70.00 31-May-10 01-Jun-10 03-Jun-10 17-Jun-10 F
2. Suwignyo Budiman 2010 42.50 19-Nov-10 22-Nov-10 24-Nov-10 09-Dec-10 I
3. Anthony Brent Elam 2010 70.00 06-Jun-11 07-Jun-11 09-Jun-11 23-Jun-11 F
4. Armand Wahyudi Hartono 2011 43.50 06-Dec-11 07-Dec-11 09-Dec-11 23-Dec-11 I
5. Dhalia Mansor Ariotedjo 2011 113.50 08-Jun-12 11-Jun-12 13-Jun-12 27-Jun-12 F
6. Erwan Yuris Ang 2012 43.50 03-Dec-12 04-Dec-12 06-Dec-12 20-Dec-12 I
7. Eugene Keith Galbraith 2012 71.00 28-May-13 29-May-13 31-May-13 17-Jun-13 F
8. Henry Koenaifi 2013 45.00 28-Nov-13 29-Nov-13 03-Dec-13 17-Dec-13 I
9. Rudy Susanto 2013 120.00 29-Apr-14 30-Apr-14 05-May-14 20-May-14 F
10. Subur Tan 2014 50.00 04-Dec-14 05-Dec-14 09-Dec-14 23-Dec-14 I
2014 148.00 16-Apr-15 17-Apr-15 21-Apr-15 13-May-15 F
AUDIT COMMITTEE 2015 55.00 12-Nov-15 13-Nov-15 17-Nov-15 09-Dec-15 I
1. Cyrillus Harinowo
2. Ilham Ikhsan ISSUED HISTORY
3. Inawaty Suwardi Listing Trading
No. Type of Listing Shares Date Date
CORPORATE SECRETARY 1. First Issue 662,400,000 31-May-00 31-May-00
Inge Setiawati 2. Company Listing 2,252,146,140 T: 31-May-00 : 11-Jan-01
3. Stock Split 21,199,350,480 T: 15-May-01 : 28-Jan-08
HEAD OFFICE 4. Option Conversion 210,852,000 T: 29-Nov-01 : 09-Nov-06
Menara BCA, Grand Indonesia 5. Option Conversion MSOP 89,226,500 T: 04-Aug-03 : 29-Sep-04
Jln. M.H. Thamrin No. 1 6. Partial Delisting -5,516,000 04-Jan-08 04-Jan-08
Jakarta 10310
Phone : (021) 2358-8000
Fax : (021) 2358-8300
Homepage : www.bca.co.id
Email : inge_setiawati@bca.co.id
investor_relations@bca.co.id

TRADING ACTIVITIES
Bank Central Asia Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
16,000 320 Jan-12 8,250 7,850 8,000 20,524 284,722 2,292,976 21
Feb-12 8,250 7,200 7,600 34,730 493,690 3,726,985 21
14,000 280 Mar-12 8,150 7,450 8,000 20,067 215,749 1,685,625 21
Apr-12 8,250 7,750 8,000 14,002 236,761 1,894,521 20
May-12 8,100 7,000 7,000 22,561 398,309 2,996,959 21
12,000 240
Jun-12 7,500 6,750 7,300 21,978 289,274 2,085,318 21
Jul-12 8,050 7,250 8,000 20,559 343,483 2,611,726 22
10,000 200
Aug-12 8,050 7,650 7,750 16,480 430,418 3,358,206 19
Sep-12 8,150 7,750 7,900 17,988 284,480 2,266,305 20
8,000 160
Oct-12 8,250 7,800 8,200 15,210 322,195 2,599,470 22
Nov-12 9,400 8,150 8,800 17,126 247,495 2,149,295 20
6,000 120 Dec-12 9,500 8,750 9,100 19,730 231,033 2,098,035 18
4,000 80 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
2,000 40 Mar-13 11,400 10,400 11,400 27,863 259,577 2,789,619 19
Apr-13 11,250 10,450 10,750 25,790 316,861 3,437,786 22
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
Aug-13 10,950 8,500 9,050 33,059 300,896 2,901,118 17
Sep-13 12,500 8,450 10,000 39,349 344,117 3,377,809 21
Finance Index Nov-13 10,650 9,550 9,650 38,027 253,767 2,565,011 20
90%
Jan-14 10,350 9,250 9,925 57,353 367,092 3,602,939 20
75% Feb-14 10,550 9,700 10,225 46,542 430,305 4,418,825 20
Mar-14 11,125 10,150 10,600 59,990 436,023 4,599,025 20
60% 61.7% Apr-14 11,250 10,425 11,000 53,682 669,676 7,354,376 20
May-14 11,525 10,775 10,775 45,146 265,133 2,967,458 18
45% Jun-14 11,400 10,700 11,000 43,261 268,220 2,959,465 21
Jul-14 11,800 10,875 11,600 44,924 396,445 4,549,613 18
36.8%
Aug-14 11,850 10,950 11,200 49,417 215,348 2,519,575 20
30%
Sep-14 13,125 11,625 13,075 58,544 350,704 4,353,955 22
18.1% Oct-14 13,575 12,050 13,050 69,752 587,562 7,528,035 23
15%
Nov-14 13,525 12,500 13,100 58,896 286,375 3,745,157 20
Dec-14 13,425 12,825 13,125 63,765 241,069 3,172,351 20
-
Jan-15 13,425 12,800 13,375 53,863 273,651 3,592,271 21

-15% Feb-15 14,550 13,250 14,100 62,002 260,770 3,622,454 19
Mar-15 14,825 14,025 14,825 90,945 331,831 4,777,845 22
-30% Apr-15 15,600 12,900 13,475 86,286 451,166 6,531,175 21
Jun-15 14,125 13,050 13,500 78,844 312,229 4,220,125 21
Jul-15 13,900 12,650 13,100 59,176 246,896 3,285,014 19
Days 246 244 242 244 20 Dec-15 13,800 12,700 13,300 85,393 681,684 9,049,648 19
Price (Rupiah) Jan-16 13,550 12,750 13,100 84,389 565,286 7,404,232 20

High 9,500 12,500 13,575 15,600 13,550
Low 6,750 8,450 9,250 11,000 12,750
Close 9,100 9,600 13,125 13,300 13,100
Close* 9,100 9,600 13,125 13,300 13,100
PER (X) 18.86 16.61 19.90 18.21 17.94

PER Industry (X) 6.58 17.20 27.72 21.00 24.73
PBV (X) 4.32 3.70 4.33 3.80 3.74

Public Accountant : Siddharta Widjaja & Rekan (member of KPMG International)
Cash on Hand 10,355,620 11,054,208 16,284,142 19,577,571 17,849,460 600,000
Placements with Other Banks 43,010,506 28,802,130 12,254,043 11,502,178 56,259,099

22,166,868 47,310,371 89,463,509 26,289,663 515,099 480,000
Marketable Securities
Loans 198,440,354 252,760,457 306,679,132 339,859,068 378,616,292
360,000
Investment 171,728 104,246 182,544 166,888 51,153,115
Fixed Assets 4,144,659 6,406,625 7,440,017 8,844,930 9,712,021
240,000
Other Assets 4,185,031 6,265,653 6,564,382 7,133,595 8,619,292
Total Assets 381,908,353 442,994,197 496,304,573 552,423,892 594,372,770 120,000
Growth (%) 15.99% 12.03% 11.31% 7.59%
-
Deposits 326,894,554 372,837,307 413,036,948 451,660,016 478,173,935 2011 2012 2013 2014 2015
Taxes Payable 432,101 216,614 276,017 251,818 251,091
Fund Borrowings 449,188 128,018 500,952 3,080,942 1,743,337
Other Liabilities 3,483,582 5,620,847 5,768,437 6,260,219 7,613,476 TOTAL EQUITY (Bill. Rp)
Total Liabilities 339,881,013 390,067,244 432,337,895 472,550,777 501,945,424 89,625
Growth (%) 14.77% 10.84% 9.30% 6.22% 89,625
77,921
5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 63,967

Authorized Capital
71,341
Paid up Capital 1,540,938 1,540,938 1,540,938 1,540,938 1,540,938 51,898

42,027
53,058

Par Value 63 63 63 63 63 34,774

Total Equity 42,027,340 51,897,942 63,966,678 77,920,617 89,624,940 16,491
Growth (%) 23.49% 23.25% 21.81% 15.02%

-1,792
2011 2012 2013 2014 2015

INCOME STATEMENTS Dec-11 Dec-12 Dec-13 Dec-14 Dec-15
Total Interest Income 24,566,852 28,885,290 34,277,149 43,771,256 55,441,647
Growth (%) 17.58% 18.67% 27.70% 26.66%
TOTAL INTEREST INCOME (Bill. Rp)
Interest Expenses 7,730,157 7,647,167 7,852,009 11,744,562 11,217,072 55,442
7,213,378 6,375,833 470,940 1,738,943 3,651,597

55,442
Other Operating Revenue

43,771
Other Operating Expenses 10,913,969 12,859,718 14,631,462 18,306,319 25,219,058 44,132
Income from Operations 13,296,775 14,255,568 17,078,667 20,504,773 22,657,114 34,277

Growth (%) 7.21% 19.80% 20.06% 10.50% 32,821 28,885
24,567
Non-Operating Revenues 321,983 430,478 736,939 236,348 -

21,511
Income Before Tax 13,618,758 14,686,046 17,815,606 20,741,121 22,657,114

Provision for Income Tax 2,800,960 2,967,586 3,559,367 4,229,451 4,621,346
10,201
Profit for the period 10,817,798 11,718,460 14,256,239 16,511,670 18,035,768 -1,109
Growth (%) 8.33% 21.66% 15.82% 9.23% 2011 2012 2013 2014 2015
Period Attributable 10,819,309 11,721,717 14,253,831 16,485,858 18,018,653

Comprehensive Income 10,770,209 11,898,523 13,004,312 16,925,171 17,691,505 PROFIT FOR THE PERIOD (Bill. Rp)
18,036
18,036
16,512
RATIOS Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 14,256
Dividend (Rp) 157.00 114.50 165.00 198.00 55.00 14,356
11,718
EPS (Rp) 438.83 475.43 578.13 668.66 730.83 10,818
1,704.62 2,104.97 2,594.47 3,160.44 3,635.16

10,677
BV (Rp)
DAR (X) 0.89 0.88 0.87 0.86 0.84 6,998
DER(X) 8.09 7.52 6.76 6.06 5.60

ROA (%) 2.83 2.65 2.87 2.99 3.03 3,319
ROE (%) 25.74 22.58 22.29 21.19 20.12

OPM (%) 54.12 49.35 49.83 46.85 40.87
-361
2011 2012 2013 2014 2015

NPM (%) 44.03 40.57 41.59 37.72 32.53
Payout Ratio (%) 35.78 24.08 28.54 29.61 7.53
Yield (%) 1.96 1.26 1.72 1.51 0.41

COMPANY REPORT
BBNI
BANK NEGARA INDONESIA
(PERSERO) TBK.
Company Profile
PT Bank Negara Indonesia (Persero) Tbk. was originally established in Indonesia as a central
bank under the name “Bank Negara Indonesia” dated July 5th, 1946. Subsequently, BNI
became “Bank Negara Indonesia 1946” and changed its status to a state‐owned
commercial bank.
BNI’s scope of activity is to engage in general banking services.
As of December 31st, 2015, BNI had 169 domestic branches, 911 domestic sub‐branches,
and 729 other outlet. In addition, BNI’s network also included 4 overseas branches located
in Singapore, Hong Kong, Tokyo and London and 1 agency in New York.
BNI has direct ownership in the following subsidiaries: PT BNI Life Insurance, PT BNI
Multifinance, PT BNI Securities and subsidiaries, BNI Remittance Ltd. and PT Bank BNI
Syariah. All of the subsidiaries of BNI are domiciled in Jakarta, except for BNI Remittance
Ltd. which is domiciled in Hong Kong.
BNI had 23,820 permanent employees and 3,055 non‐permanent employees, total 26,875
employees.
February 2016
Disclaimer:

BBNI Bank Negara Indonesia (Persero) Tbk.
9 | 90.6T | 1.85% | 48.54%
6 | 43.6T | 3.18% | 30.18%

Established Date : 05-Jul-1946 1. Negara Republik Indonesia 11,189,193,875 : 60.61%
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 F
2006 72.50 19-Jun-07 20-Jun-07 22-Jun-07 02-Jul-07 F
1. Hartadi Agus Sarwono *) 2008 8.00 18-Jun-09 19-Jun-09 23-Jun-09 07-Jul-09 F
2. Anny Ratnawati *) 2009 9.44 25-Nov-09 26-Nov-09 01-Dec-09 11-Dec-09 I
3. Bistok Simbolon 2009 47.48 08-Jun-10 09-Jun-10 11-Jun-10 25-Jun-10 F
4. Joni Swastanto 2010 65.98 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
5. Ki Agus Ahmad Badaruddin 2011 62.48 10-May-12 11-May-12 15-May-12 30-May-12 F
6. Pataniari Siahaan *) 2012 113.35 26-Apr-13 29-Apr-13 01-May-13 16-May-13 F
7. Pradjoto *) 2013 145.71 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
8. Wahyu Kuncoro 2014 144.55 24-Mar-15 25-Mar-15 27-Mar-15 17-Apr-15 I
9. Revrisond Baswir *) 2015 122.53 17-Mar-16 18-Mar-16 22-Mar-16 13-Apr-16 F
*) Independent Commissioners
ISSUED HISTORY
BOARD OF DIRECTORS Listing Trading
1. Achmad Baiquni No. Type of Listing Shares Date Date
2. Adi Sulistyowati 1. Negara RI (Seri A) 1 25-Nov-96 -
3. Anggoro Eko Cahyo 2. First Issue 1,085,032,000 25-Nov-96 25-Nov-96
4. Bob Tyasika Ananta 3. Company Listing 3,255,095,999 25-Nov-96 28-Jun-97
5. Herry Sidharta 4. Partial Delisting -43,401,280 02-Jul-99 02-Jul-99
6. Imam Budi Sarjito 5. Right Issue 151,904,480,000 05-Jul-99 05-Jul-99
7. Putrama Wahju Setiawan 6. Additional Listing 41,375,391,255 20-Apr-01 20-Apr-01
8. Rico Rizal Budidarmo 7. Partial Delisting -343,540,085 12-Dec-01 12-Dec-01
9. Suprajarto 8. Reverse Split -184,084,187,364 23-Dec-03 23-Dec-03
9. Right Issue 1,974,563,625 13-Aug-07 13-Aug-07
AUDIT COMMITTEE 10. Partial Delisting -2,233,046 31-Aug-07 31-Aug-07
1. Jos Luhukay 11. Right Issue 3,340,968,788 29-Dec-10 29-Dec-10
2. Anny Ratnawati
3. Bambang Hendrajatin HEAD OFFICE
4. Tubagus Chairul Amachi BNI Building 24th Fl.
Jln. Jend. Sudirman Kav. 1
CORPORATE SECRETARY Jakarta 10220
Suhardi Petrus Phone : (021) 251-1946, 572-8387
Fax : (021) 251-1214, 1961, 1075, 572-8805, 8053, 8295
Homepage : www.bni.co.id
Email : suhardi.petrus@bni.co.id

TRADING ACTIVITIES
Bank Negara Indonesia (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
7,400 400 Jan-12 3,950 3,600 3,625 33,481 1,088,649 4,024,984 21
Feb-12 3,775 3,325 3,775 49,190 1,450,572 5,117,308 21
6,475 350 Mar-12 4,000 3,625 4,000 22,662 523,737 2,006,312 21
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
5,550 300
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
4,625 250
Aug-12 4,000 3,625 3,725 16,897 480,873 1,833,994 19
Sep-12 3,975 3,725 3,925 16,128 490,626 1,896,606 20
3,700 200
Oct-12 3,950 3,775 3,850 14,881 500,990 1,933,721 22
Nov-12 3,850 3,525 3,700 20,135 446,149 1,632,538 20
2,775 150 Dec-12 3,800 3,525 3,700 16,684 497,250 1,805,016 18
1,850 100 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
925 50 Mar-13 5,100 4,475 5,050 30,569 659,186 3,126,953 19
Apr-13 5,450 4,850 5,400 30,309 640,452 3,265,931 22
May-13 5,600 4,875 4,875 33,765 679,580 3,560,565 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
Aug-13 4,375 3,375 3,850 29,977 612,307 2,370,950 17
Sep-13 5,000 3,400 4,075 37,673 629,913 2,594,062 21
105%
Jan-14 4,420 3,660 4,360 55,797 479,251 1,966,311 20
90% Feb-14 4,770 4,125 4,550 68,732 712,946 3,157,847 20
Mar-14 5,325 4,450 4,960 79,616 765,650 3,726,665 20
75% Apr-14 5,325 4,700 4,815 54,018 556,377 2,802,548 20
May-14 5,150 4,720 4,775 63,923 667,971 3,279,251 18
60% Jun-14 4,930 4,710 4,765 57,179 461,000 2,221,427 21
Jul-14 5,300 4,740 5,100 61,719 656,779 3,287,150 18
Aug-14 5,525 4,995 5,350 57,420 522,073 2,731,897 20
45%
Sep-14 5,975 5,350 5,525 50,664 574,054 3,261,277 22
36.8%
Oct-14 5,950 4,975 5,950 61,498 722,117 4,009,779 23
30%
25.1% Nov-14 6,100 5,550 6,025 41,672 418,868 2,435,083 20
18.1% Dec-14 6,300 5,700 6,100 43,951 450,256 2,718,387 20
15%
Jan-15 6,300 5,725 6,250 59,023 605,276 3,684,362 21

- Feb-15 7,075 6,175 6,875 58,356 468,870 3,156,997 19
Mar-15 7,225 6,550 7,225 80,139 703,023 4,829,845 22
-15% Apr-15 7,275 6,250 6,425 64,819 618,174 4,250,511 21
Jun-15 6,825 5,100 5,300 114,675 851,390 4,886,319 21
Jul-15 5,675 4,450 4,760 110,477 877,538 4,483,456 19
Frequency (Thou. X) 250 384 696 1,105 75 Nov-15 5,250 4,650 4,770 79,530 473,123 2,359,153 21
Days 246 244 242 244 20 Dec-15 5,150 4,780 4,990 75,750 522,777 2,595,771 19
Price (Rupiah) Jan-16 5,200 4,850 4,910 75,208 565,592 2,816,764 20

High 4,225 5,600 6,300 7,275 5,200
Low 3,325 3,375 3,660 3,800 4,850
Close 3,700 3,950 6,100 4,990 4,910
Close* 3,700 3,950 6,100 4,990 4,910
PER (X) 9.58 8.14 10.55 10.16 10.00

PER Industry (X) 6.58 17.20 27.72 21.00 24.73
PBV (X) 1.59 1.54 1.86 1.19 1.17

Cash on Hand 6,197,731 7,969,378 10,089,927 11,435,686 12,890,427 512,500

7,627,768 9,800,970 11,965,698 6,237,356 9,927,494 410,000
Loans 163,533,423 193,834,670 243,757,807 270,651,986 314,066,531
307,500
Investment 24,335 24,026 39,507 - 35,793
Fixed Assets 4,052,708 4,591,588 5,513,569 6,222,050 20,756,594
205,000
Other Assets 4,655,153 3,312,032 3,156,891 3,369,915 4,482,111
Total Assets 299,058,161 333,303,506 386,654,815 416,573,708 508,595,288 102,500
Growth (%) 11.45% 16.01% 7.74% 22.09%
-
Deposits 238,314,269 260,906,084 295,075,178 317,070,426 358,184,938 2011 2012 2013 2014 2015
Taxes Payable 145,021 171,716 323,957 317,563 749,396
Fund Borrowings 8,725,796 8,749,762 18,950,523 11,212,265 22,523,581
Growth (%) 10.93% 16.98% 0.64% 20.98% 78,438
61,021
Authorized Capital 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000
62,437
47,684
Paid up Capital 9,054,807 9,054,807 9,054,807 9,054,807 9,054,807 43,525
37,843
46,435

Par Value 7,500 & 7,500 & 375 7,500 & 7,500 & 375 7,500 & 7,500 & 375 7,500 & 7,500 & 375 7500 & 7500 & 375
30,434

Total Equity 37,843,024 43,525,291 47,683,505 61,021,308 78,438,222 14,433
Growth (%) 15.02% 9.55% 27.97% 28.54%

-1,569
2011 2012 2013 2014 2015

Growth (%) 9.73% 16.50% 26.14% 10.58%

33,365
7,601,475 8,445,813 9,440,904 10,715,356 8,872,380
36,895

26,451
20,692
Growth (%) 19.31% 29.83% 18.96% -14.49% 21,842
Non-Operating Revenues 218,725 258,539 59,362 178,019 54,067 14,315

6,789
Profit for the period 5,808,218 7,048,362 9,057,941 10,829,379 9,140,532 -738
Growth (%) 21.35% 28.51% 19.56% -15.60% 2011 2012 2013 2014 2015

10,829
10,829
9,058 9,141
RATIOS Dec-11 Dec-12 Dec-13 Dec-14 Dec-15
Dividend (Rp) 62.48 113.35 145.71 144.55 122.53 8,620
7,048
EPS (Rp) 312.40 377.84 485.52 578.20 486.18 5,808
2,029.26 2,333.96 2,556.94 3,272.16 4,206.11
6,411
BV (Rp)
DAR (X) 0.87 0.87 0.88 0.82 0.81 4,202
DER(X) 6.90 6.66 7.11 5.59 5.26

ROA (%) 1.94 2.11 2.34 2.60 1.80 1,993
ROE (%) 15.35 16.19 19.00 17.75 11.65

OPM (%) 35.00 38.06 42.41 40.00 30.93
-217
2011 2012 2013 2014 2015

NPM (%) 28.07 31.04 34.24 32.46 24.77
Payout Ratio (%) 20.00 30.00 30.01 25.00 25.20
Yield (%) 1.64 3.06 3.69 2.37 2.46

COMPANY REPORT
BBRI
BANK RAKYAT INDONESIA (PERSERO) TBK.
Company Profile
Bank Rakyat Indonesia (BRI) is the oldest commercial bank in Indonesia, established on
December 16, 1895, in Purwokerto, Central Java. The state‐owned bank went public in
2003 and the Indonesian government holds the majority of its shares with 57.32%,
followed by public.
Since its inception, BRI’s strategies have been mostly focused on the development of
micro, small and medium business segments. In so doing, BRI takes into account its core
competencies at all organization level. With strategic positioning in Indonesian banking
industry supported by strong basis of core competencies in micro business segment since
1984, BRI will be able to achieve its optimal performance in coming years.
As of 31 December 2015, BRI serves its customers through more than 10.000 outlets
spreads all over Indonesia
 1 Head Office
 19 Regional Offices
 1 Head of Audit Office
 19 Regional Audit Offices
 462 Branches Offices
 1 Special Branch
 4 overseas offices (Cayman Island, Singapore, New York, Hong Kong)
 603 Sub Branch Offices
 5,360 BRI Units (Micro Outlet)
 983 Cash Counters
 3,178 Teras BRI
 1 Teras Ship
BRI provide access to its banking services through its electronic channel;
 22,792 ATMs linked to ATM Bersama, ATM Prima, ATM Link, Cirrus, and Maestro
 187,758 Electronic Data Captures (EDC)
 892 Cash Deposit Machine
 57 E‐Buzz
BRI Subsidiaries: PT Bank BRI Syariah, PT Bank Rakyat Indonesia Agroniaga Tbk., BRI
Remittance Co. Ltd. And PT Asuransi Jiwa Bringin Jiwa Sejahtera. Total permanent
employees 54,859.
February 2016
Disclaimer:

BBRI Bank Rakyat Indonesia (Persero) Tbk.
5 | 274.1T | 5.60% | 34.54%
1 | 91.0T | 6.64% | 6.64%

Established Date : 16-Dec-1895 1. Negara Republik Indonesia 14,000,000,000 : 57.32%
Under Writer IPO :
PT Bahana Securuties DIVIDEND ANNOUNCEMENT
F/I
PT Datindo Entrycom Year Shares Dividend Cum Date Ex Date Date Date
Wisma Sudirman - Puri Datindo 2003 84.19 06-Jul-04 07-Jul-04 09-Jul-04 23-Jul-04 F
2007 196.34 18-Jun-08 19-Jun-08 23-Jun-08 07-Jul-08 F
1. Mustafa Abubakar *) 2009 132.08 28-Jun-10 29-Jun-10 01-Jul-10 15-Jul-10 F
2. A. Fuad Rahmany *) 2010 45.93 17-Dec-10 20-Dec-10 22-Dec-10 30-Dec-10 I
3. A. Sony Keraf *) 2010 70.04 27-May-11 30-May-11 01-Jun-11 15-Jun-11 F
4. Adhyaksa Dault *) 2011 122.28 26-Apr-12 27-Apr-12 01-May-12 15-May-12 F
5. Ahmad Fuad *) 2012 225.23 26-Mar-13 27-Mar-13 01-Apr-13 15-Apr-13 F
6. Gatot Trihargo 2013 257.33 28-Apr-14 29-Apr-14 02-May-14 14-May-14 F
7. Jeffry J. Wurangian 2014 294.80 26-Mar-15 27-Mar-15 31-Mar-15 22-Apr-15 I
8. Mahmud 2015 311.66 31-Mar-16 01-Apr-16 05-Apr-16 22-Apr-16 F
9. Vincentius Sony Loho
Listing Trading
1. Asmawi Syam 1. First Issue 4,764,705,000 10-Nov-03 10-Nov-03
2. Donsuwan Simatupang 2. Company Listing 6,882,352,950 T: 10-Nov-03 : 31-May-04
3. Haru Koesmahargyo 3. MSOP Conversion 114,572,000 T: 24-Nov-04 : 11-Nov-05
4. Kuswiyoto 4. MSOP Conversion I & II 333,814,000 T: 16-Nov-05 : 11-Nov-08
5. Mohammad Irfan 5. MSOP Conversion II 8,928,500 T: 25-Sep-06 : 12-Nov-09
6. Priyastomo 6. MSOP Conversion I, II & III 59,421,500 T: 23-Nov-06 : 27-Dec-07
7. Randi Anto 7. MSOP Conversion II & III 36,021,500 T: 24-Nov-06 : 26-Jun-09
8. Sis Apik Wijayanto 8. MSOP Conversion I 789,000 T: 09-Jan-07 : 13-Nov-08
9. Sunarso 9. MSOP Conversion III 13,836,000 T: 25-Jun-07 : 15-Nov-10
10. Susy Liestiowaty 10. MSOP Conversion I & III 2,493,500 T: 21-Nov-07 : 08-Aug-08
11. Zulhelfi Abidin 11. Delisting of shares Negara RI -5,698,760 07-Jan-11 07-Jan-11
12. Stock Split 12,211,235,190 11-Jan-11 11-Jan-11
AUDIT COMMITTEE
1. A. Fuad Rahmany
2. Adhyaksa Dault
3. A. Sony Keraf
4. I Gde Yadnya Kusuma
5. Pamuji Gesang Raharjo
6. Syahrir Nasution
CORPORATE SECRETARY
Hari Siaga Amijarso
HEAD OFFICE
BRI I Building, 20th Fl.
Jln. Jend. Sudirman No. 44 - 46
Jakarta 10210
Phone : (021) 251-0244, 250-0124, 251-0315, 575-1966
Fax : (021) 570-0916, 575-2010
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
14,000 160 Jan-12 7,200 6,750 6,850 34,105 648,419 4,500,394 21
Feb-12 7,250 6,550 6,900 43,956 881,221 6,030,387 21
12,250 140 Mar-12 7,050 6,400 6,950 62,379 955,267 6,378,821 21
Apr-12 7,150 6,450 6,650 35,173 698,250 4,789,501 20
May-12 6,700 5,600 5,650 68,285 1,252,556 7,711,374 21
10,500 120
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
8,750 100
Aug-12 7,550 6,650 6,950 31,723 669,590 4,725,231 19
Sep-12 7,500 6,900 7,450 33,450 576,211 4,172,024 20
7,000 80
Oct-12 7,850 7,300 7,400 33,323 627,187 4,743,720 22
Nov-12 7,350 7,000 7,050 43,834 731,065 5,243,316 20
5,250 60 Dec-12 7,250 6,800 6,950 33,266 505,350 3,540,891 18
3,500 40 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
1,750 20 Mar-13 9,450 8,500 8,750 47,866 684,003 5,985,374 19
Apr-13 9,400 8,250 9,400 45,151 778,102 6,767,136 22
May-13 9,950 8,900 8,900 50,832 689,578 6,403,815 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
Aug-13 8,450 6,250 6,600 75,898 1,110,192 7,784,877 17
Sep-13 8,650 6,200 7,250 80,681 1,165,249 8,756,072 21
120%
Jan-14 8,850 7,000 8,325 87,119 934,659 7,534,215 20
100% Feb-14 9,850 8,125 9,275 87,543 1,015,064 9,180,632 20
Mar-14 10,500 9,025 9,575 111,431 903,601 8,566,209 20
80% Apr-14 10,250 9,350 9,900 103,234 844,361 8,340,740 20
May-14 11,050 9,950 10,200 68,949 556,095 5,802,044 18
60% 61.5% Jun-14 10,400 9,850 10,325 73,158 668,924 6,771,119 21
Jul-14 12,200 10,100 11,200 91,236 838,066 9,411,432 18
Aug-14 11,375 10,600 11,050 96,070 733,194 8,022,874 20
40%
36.8% Sep-14 11,175 10,150 10,425 91,480 785,001 8,367,361 22
Oct-14 11,075 10,000 11,075 112,523 852,028 8,958,410 23
20% 18.1% Nov-14 11,550 10,600 11,525 65,560 424,706 4,720,140 20
Dec-14 11,725 11,000 11,650 82,491 540,205 6,200,187 20
-
Jan-15 12,100 11,325 11,675 84,255 607,503 7,101,489 21

-20% Feb-15 13,050 11,600 12,875 82,946 748,654 9,092,542 19
Mar-15 13,275 12,600 13,275 82,495 552,663 7,172,234 22
-40% Apr-15 13,450 11,250 11,625 96,485 727,168 9,138,329 21
Jun-15 11,775 10,050 10,350 143,673 854,615 9,122,101 21
Jul-15 10,900 9,300 10,000 107,429 692,996 7,012,522 19
Frequency (Thou. X) 514 730 1,071 1,264 89 Nov-15 11,600 10,200 10,775 87,443 545,609 5,909,768 21
Days 246 244 242 244 20 Dec-15 11,600 10,425 11,425 83,179 511,242 5,704,482 19
Price (Rupiah) Jan-16 11,825 10,750 11,225 88,556 492,583 5,607,189 20

High 7,850 9,950 12,200 13,450 11,825
Low 5,150 6,200 7,000 7,975 10,750
Close 6,950 7,250 11,650 11,425 11,225
Close* 6,950 7,250 11,650 11,425 11,225
PER (X) 9.18 8.38 11.86 10.99 10.79

PER Industry (X) 6.58 17.20 27.72 21.00 24.73
PBV (X) 2.64 2.25 2.94 2.49 2.45

Public Accountant : Purwantono, Sungkoro & Surja (Member of Ernst & Young Global Limited)
Cash on Hand 10,525,973 13,895,464 19,171,778 22,469,167 28,771,635 887,500

33,917,516 41,136,880 42,673,665 84,168,460 124,873,547 710,000
Loans 269,454,726 336,081,042 419,144,730 479,211,143 547,318,355
532,500
Investment 164,689 196,742 222,851 251,573 269,130
Fixed Assets 1,852,818 2,804,366 3,972,612 5,917,470 8,039,280
355,000
Other Assets 5,293,505 5,961,840 7,004,037 8,792,889 13,514,846
Total Assets 469,899,284 551,336,790 626,182,926 801,955,021 878,426,312 177,500
Growth (%) 17.33% 13.58% 28.07% 9.54%
-
Deposits 388,288,508 452,945,001 507,972,602 630,977,238 282,157,299 2011 2012 2013 2014 2015
Taxes Payable 1,105,997 895,695 1,266,018 59,805 1,497,262
Fund Borrowings 13,097,916 10,888,755 9,084,913 24,986,862 35,480,358
Growth (%) 15.80% 12.42% 28.78% 8.67% 113,127
97,737

90,049
79,327
Paid up Capital 6,167,291 6,167,291 6,167,291 6,167,291 6,167,291 64,882

66,971

Par Value 250 250 250 250 250 43,893

Total Equity 49,820,329 64,881,779 79,327,422 97,737,429 113,127,179 20,815
Growth (%) 30.23% 22.26% 23.21% 15.75%

-2,263
2011 2012 2013 2014 2015

Growth (%) 3.00% 19.86% 26.34% 13.73%
5,775,975 8,389,732 8,348,459 9,299,140 12,409,041 75,122

85,434

59,461
Income from Operations 17,584,230 22,682,538 26,127,577 28,361,877 30,512,907
48,164 49,610
Growth (%) 28.99% 15.19% 8.55% 7.58% 50,577
Non-Operating Revenues 1,171,650 1,177,034 1,782,489 2,497,196 1,981,111

33,148

15,720
Growth (%) 23.86% 14.27% 13.58% 4.77% 2011 2012 2013 2014 2015

25,411
25,411
24,254
21,354
18,687
Dividend (Rp) 122.28 225.23 257.33 294.80 311.66 20,227
EPS (Rp) 611.41 757.26 865.22 982.67 1,029.53 15,088
2,019.54 2,630.08 3,215.65 3,961.93 4,585.77

15,043
BV (Rp)
DAR (X) 0.89 0.88 0.87 0.88 0.87 9,859
DER(X) 8.43 7.50 6.89 7.21 6.76

ROA (%) 3.21 3.39 3.41 3.02 2.89 4,676
ROE (%) 30.28 28.80 26.92 24.82 22.46

OPM (%) 36.51 45.72 43.94 37.75 35.72
-508
2011 2012 2013 2014 2015

NPM (%) 31.33 37.67 35.91 32.29 29.74
Payout Ratio (%) 20.00 29.74 29.74 30.00 30.27
Yield (%) 1.81 3.24 3.55 2.53 2.73

COMPANY REPORT
BBTN
BANK TABUNGAN NEGARA (PERSERO) TBK.
Company Profile
PT Bank Tabungan Negara (Persero) Tbk. –or Bank BTN– was established in 1897 under the
name of Postspaar Bank. The name was changed to Bank Tabungan Pos in 1950 and finally
became Bank Tabungan Negara in 1963. Bank BTN successfully done The Initial Public
Offering (IPO) and listed on the Indonesia Stock Exchange on 17 December 2009, and was
the first Indonesian bank to securitize mortgage through Asset Backed Securities ‐
Collective Investment Contracts (KIK‐EBA) scheme. Bank BTN engaged in activities based on
Sharia principles on December 15, 2004.
Bank BTN is a fully commercial bank that focuses on the housing finance. Bank BTN has
been doing mortgage business for more than six decades of consistency by providing a
variety of housing products and services, particularly through the Home Ownership Loan
(mortgage), both Subsidized Mortgages for lower‐middle segment as well as Non‐
Subsidized Mortgages for middle and upper segments.
As of 31 December 2015, the Bank has 87 branches (including 22 sharia branches), 244 sub‐
branches (including 21 sharia sub‐branches), 486 cash offices (including 7 sharia cash
offices), and 2,951 SOPPs (System on‐line Payment Point/on‐line Post office).
The bank’s permanent employees amount to 8,186.
February 2016
Disclaimer:

BBTN Bank Tabungan Negara (Persero) Tbk.
54 | 14.3T | 0.29% | 78.28%
47 | 8.24T | 0.60% | 77.25%

Established Date : 30-Nov-1934 1. Negara Republik Indonesia 6,354,000,000 : 60.65%
Listing Date : 17-Dec-2009 2. Public (<5%) 4,122,445,000 : 39.35%
Under Writer IPO :
PT Mandiri Sekuritas DIVIDEND ANNOUNCEMENT
PT CIMB Securities Indonesia Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2009 15.09 10-Jun-10 11-Jun-10 15-Jun-10 29-Jun-10 F
Wisma Sudirman - Puri Datindo 2010 31.19 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2011 25.31 10-May-12 11-May-12 15-May-12 30-May-12 F
Phone : (021) 570-9009 2012 38.74 26-Apr-13 29-Apr-13 01-May-13 10-May-13 F
Fax : (021) 570-9026 2013 44.36 18-Mar-14 19-Mar-14 21-Mar-14 07-Apr-14 F
2014 21.11 31-Mar-15 01-Apr-15 06-Apr-15 24-Apr-15 I
BOARD OF COMMISSIONERS
1. I Wayan Agus Mertayasa *) ISSUED HISTORY
2. Arie Coerniadi *) Listing Trading
3. Fajar Harry Sampurno No. Type of Listing Shares Date Date
4. Kamaruddin Sjam *) 1. First Issue 2,360,057,000 17-Dec-09 17-Dec-09
5. Lucky Fathul Aziz H. *) 2. Company Listing 6,263,228,575 17-Dec-09 17-Dec-09
6. Maurin Sitorus 3. MESOP Conversion I 124,368,000 T: 08-Feb-11 : 13-Aug-14
7. Sumiyati 4. MESOP Conversion I & II 5,670,000 T: 06-Feb-12 : 14-Aug-14
*) Independent Commissioners 5. Right Issue 1,497,728,925 07-Dec-12 07-Dec-12
6. MESOP Conversion I, II & III 208,387,000 T: 07-Feb-13 : 17-Jul-13
BOARD OF DIRECTORS 7. MESOP Conversion II & III 444,300 T: 14-Mar-14 : 14-Aug-15
1. Maryono 8. MESOP Conversion III 104,500 T: 19-Mar-14 : 23-Jul-14
2. Adi Setianto 9. MESOP Conversion II 36,000 T: 22-Jul-14 : 18-Mar-15
3. Iman Nugroho Soeko 10. MESOP Conversion I & III 2,081,000 20-Aug-14 20-Aug-14
4. Irman A. Zahiruddin
5. Mansyur S. Nasution
6. Oni Febriarto R.
7. Sis Apik Wijayanto
8. Sulis Usdoko
AUDIT COMMITTEE
1. Kamaruddin Sjam
2. Deddy Effendi Ridwan
3. Lucky Fathul Aziz Hadibrata
4. Sondang Gayatri
5. Waldy Gutama
CORPORATE SECRETARY
Eko Waluyo
HEAD OFFICE
Menara Bank BTN
Jln. Gajah Mada No. 1
Jakarta 10130
Phone : (021) 633-6789, 633-2666
Fax : (021) 634-6704
Homepage : www.btn.co.id
Email : eko.waluyo@btn.co.id

TRADING ACTIVITIES
Bank Tabungan Negara (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
1,800 1,600 Jan-12 1,270 1,180 1,200 11,071 302,240 369,927 21
Feb-12 1,250 1,160 1,220 8,442 170,762 205,487 21
1,575 1,400 Mar-12 1,220 1,160 1,200 3,803 62,277 74,561 21
Apr-12 1,440 1,200 1,380 14,473 365,152 486,519 20
May-12 1,390 1,190 1,200 5,250 81,787 107,075 21
1,350 1,200
Jun-12 1,400 1,130 1,290 6,698 139,270 177,699 21
Jul-12 1,380 1,240 1,370 7,747 193,721 255,431 22
1,125 1,000
Aug-12 1,420 1,280 1,310 5,178 119,668 162,886 19
Sep-12 1,460 1,250 1,440 12,362 317,570 423,906 20
900 800
Oct-12 1,650 1,360 1,520 12,271 306,185 452,863 22
Nov-12 1,720 1,420 1,610 15,597 1,585,209 2,241,325 20
675 600 Dec-12 1,610 1,440 1,450 9,276 308,764 476,736 18
450 400 Jan-13 1,640 1,450 1,620 12,496 502,676 774,616 21

Feb-13 1,680 1,530 1,630 16,891 460,352 741,687 20
225 200 Mar-13 1,740 1,610 1,700 15,925 556,705 936,218 19
Apr-13 1,720 1,470 1,490 13,858 462,242 745,326 22
May-13 1,510 1,260 1,420 24,534 686,550 950,640 22
Jun-13 1,400 1,010 1,150 19,347 347,074 411,522 19
Jul-13 1,250 1,020 1,040 17,377 380,644 430,266 23
Aug-13 1,200 880 950 12,813 270,433 285,056 17
Sep-13 1,160 840 930 29,196 430,902 418,199 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-13 1,030 910 970 17,269 337,041 325,799 21
Finance Index Nov-13 1,020 900 970 10,701 240,433 230,220 20
January 2012 - January 2016 Dec-13 990 820 870 10,010 155,875 145,999 19
75%
Jan-14 970 835 900 18,385 275,674 252,515 20
60% Feb-14 1,145 890 1,080 37,825 1,429,330 1,502,277 20
Mar-14 1,355 1,015 1,285 39,910 1,270,021 1,539,871 20
45% Apr-14 1,525 1,140 1,155 55,199 1,598,310 2,048,453 20
36.8%
May-14 1,175 1,070 1,090 36,625 903,411 1,011,693 18
30% Jun-14 1,090 980 1,040 25,604 570,012 589,252 21
Jul-14 1,230 1,030 1,080 48,574 1,654,735 1,874,974 18
18.1% Aug-14 1,215 1,045 1,115 42,735 1,333,365 1,517,629 20
15% 17.4%
Sep-14 1,180 1,070 1,170 32,063 968,580 1,090,634 22
Oct-14 1,195 1,070 1,120 27,396 644,155 728,263 23
-
Nov-14 1,155 1,090 1,130 16,256 447,183 498,895 20
Dec-14 1,240 1,120 1,205 21,919 566,006 662,843 20
-15%
Jan-15 1,230 980 995 44,134 1,247,054 1,302,876 21

-30% Feb-15 1,095 990 1,070 47,590 1,549,165 1,615,293 19
Mar-15 1,270 1,060 1,255 40,326 1,207,915 1,392,206 22
-45% Apr-15 1,250 1,080 1,115 28,932 701,031 823,389 21
Jun-15 1,200 1,070 1,190 28,296 410,752 469,186 21
Jul-15 1,230 1,150 1,170 22,849 297,190 353,106 19
SHARES TRADED 2012 2013 2014 2015 Jan-16 Aug-15 1,255 935 1,065 32,369 543,842 582,291 20
Volume (Million Sh.) 3,953 4,831 11,661 8,010 476 Sep-15 1,090 970 995 29,159 357,423 367,986 21
Value (Billion Rp) 5,434 6,396 13,317 8,900 645 Oct-15 1,230 995 1,185 48,255 593,101 667,140 21
Days 246 244 242 244 20 Dec-15 1,315 1,250 1,295 20,431 189,362 245,098 19
Price (Rupiah) Jan-16 1,420 1,280 1,365 30,750 476,062 645,114 20

High 1,720 1,740 1,525 1,315 1,420
Low 1,130 820 835 935 1,280
Close 1,450 870 1,205 1,295 1,365
Close* 1,450 870 1,205 1,295 1,365
PER (X) 11.06 5.88 12.64 7.33 7.73

PER Industry (X) 6.58 17.20 27.72 21.00 24.73
PBV (X) 1.46 0.80 1.08 0.99 1.04

Cash on Hand 512,399 694,941 924,451 920,482 1,181,219 175,000

733,953 1,013,796 4,201,682 5,436,970 1,807,561 140,000
Loans 62,619,586 75,410,705 99,330,214 114,345,618 136,905,226
105,000
Investment - - - - -
Fixed Assets 1,497,455 1,582,812 1,522,724 1,488,383 1,553,401
70,000
Other Assets 626,938 759,956 783,770 1,007,989 1,553,599
Total Assets 89,121,459 111,748,593 131,169,730 144,582,353 171,807,592 35,000
Growth (%) 25.39% 17.38% 10.23% 18.83%
-
Deposits 62,762,985 81,374,686 96,482,879 107,649,946 129,429,868 2011 2012 2013 2014 2015
Taxes Payable - - - 115,260 -
Fund Borrowings 5,695,307 6,737,260 7,073,035 6,998,213 7,726,728
Growth (%) 24.05% 17.88% 10.63% 19.36% 13,860
12,253
11,557
10,279
11,033
Paid up Capital 4,404,536 5,178,220 5,282,427 5,283,848 5,291,173

8,205 7,322
Par Value 500 500 500 500 500 5,378

Total Equity 7,321,643 10,278,871 11,556,753 12,252,895 13,860,107 2,550
Growth (%) 40.39% 12.43% 6.02% 13.12%

-277
2011 2012 2013 2014 2015

Growth (%) 16.71% 22.27% 18.77% 16.86%
512,017 571,494 763,983 894,820 1,106,526

14,966
Other Operating Revenue 12,807

10,783
Income from Operations 1,525,749 1,870,969 2,135,909 1,577,367 2,533,605
8,819
Growth (%) 22.63% 14.16% -26.15% 60.62% 8,860
7,556
Non-Operating Revenues -3,489 -7,767 4,862 1,960 8,281

5,807

Provision for Income Tax 403,599 499,240 578,610 433,755 690,979
2,754
Profit for the period 1,118,661 1,363,962 1,562,161 1,145,572 1,850,907 -299
Growth (%) 21.93% 14.53% -26.67% 61.57% 2011 2012 2013 2014 2015

1,851
1,851
1,562
1,364
Dividend (Rp) 25.31 38.74 44.36 21.11 - 1,473
1,119 1,146
EPS (Rp) 126.99 131.70 147.86 108.40 174.91
831.15 992.51 1,093.89 1,159.47 1,309.74
1,096
BV (Rp)
DAR (X) 0.92 0.91 0.91 0.92 0.92 718
DER(X) 11.17 9.87 10.35 10.80 11.40

ROA (%) 1.26 1.22 1.19 0.79 1.08 341
ROE (%) 15.28 13.27 13.52 9.35 13.35

OPM (%) 20.19 21.22 19.81 12.32 16.93
-37
2011 2012 2013 2014 2015

NPM (%) 14.80 15.47 14.49 8.94 12.37
Payout Ratio (%) 19.93 29.41 30.00 19.48 -
Yield (%) 2.09 2.67 5.10 1.75 -

COMPANY REPORT
BMRI
BANK MANDIRI (PERSERO) TBK.
Company Profile
Bank Mandiri was formed on 2 October 1998, as part of the government of Indonesia’s
bank restructuring program. Bank Mandiri is the largest bank in Indonesia. Bank Mandiri
offers a comprehensive range of financial solutions to private and state‐owned large and
medium corporations, small and micro businesses as well as retail consumers.
Amidst the various external challenges, Mandiri Group successfully achieved a number of
important milestones. In connection with the various improvements to business processes,
Mandiri Group conducted disciplined supervision over the micro‐financial and macro‐
external parameters so as to serve as an early warning system. The supervision process
was carried out proactively based on the principles of good corporate governance and
focused on strengthening the foundations for achieving our goals in our three (3) business
focus areas (wholesale transactions, retail deposits and payments, and retail financing), as
well as internal controls, improved risk management, and enhancements to infrastructure
and human resources.
In line with the product development and the increasing complexity of transactions,
Management has also taken steps to optimize the Internal Audit function, both in
assurance and advisory terms, by enhancing the capacity of auditors. Such capacity is not
just limited to auditing knowledge and skills, but also extends to knowledge of products
and banking operations.
As of 31 December 2015 structure and the number of domestic and overseas offices of
Bank Mandiri (Total 2,463 offices) are as follows:
 12 the domestic territory Office
 Branches in the country:
o 76 Area Office
o 1,143 Branch Office
o 994 Mandiri Mitra Usaha Offices
o 244 Cash Outlet
 6 Overseas branches
Total of employees 36,737.
February 2016
Disclaimer:

BMRI Bank Mandiri (Persero) Tbk.
7 | 221.8T | 4.53% | 44.40%
2 | 72.5T | 5.30% | 11.94%

Established Date : 02-Oct-1998 1. Negara Republik Indonesia 14,000,000,000 : 60.61%
Listing Date : 14-Jul-2003 2. Public (<5%) 9,099,999,999 : 39.39%
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. Wimboh Santoso *) 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 I
3. Ardan Adiperdana 2010 19.64 21-Dec-10 22-Dec-10 27-Dec-10 30-Dec-10 I
4. Askolani 2010 120.60 15-Jun-11 16-Jun-11 20-Jun-11 30-Jun-11 F
5. Aviliani *) 2011 104.97 15-May-12 16-May-12 22-May-12 05-Jun-12 F
6. Bangun Sarwito Kusmuljono *) 2012 199.33 26-Apr-13 29-Apr-13 01-May-13 16-May-13 F
7. Goei Siauw Hong *) 2013 234.05 26-Mar-14 27-Mar-14 01-Apr-14 15-Apr-14 F
8. Imam Apriyanto Putro 2014 212.91 23-Mar-15 24-Mar-15 26-Mar-15 17-Apr-15 I
9. Suwhono 2015 261.45 29-Mar-16 30-Mar-16 01-Apr-16 22-Apr-16 F
ISSUED HISTORY
1. Kartika Wirjoatmodjo No. Type of Listing Shares Date Date
2. Ahmad Siddik Badruddin 1. First Issue 2,900,000,000 14-Jul-03 14-Jul-03
3. Hery Gunardi 2. Company Listing 16,900,000,000 T: 14-Jul-03 : 30-Dec-03
4. Kartini Sally 3. MSOP Conversion 598,938,831 T: 26-Jul-04 : 09-Jan-07
5. Ogi Prastomiyono 4. Partial delisting 1 % -9,955,000 06-Dec-05 06-Dec-05
6. Pahala Nugraha Mansury 5. MSOP Conversion I & II 32,316,636 T: 11-Dec-06 : 15-Dec-06
7. Rico Usthavia Frans 6. MSOP Conversion I 10,547,213 T: 21-Mar-07 : 16-Jul-08
8. Royke Tumilaar 7. MSOP Conversion I, II & III 105,564,065 T: 10-May-07 : 02-Jun-08
9. Sulaiman Arif Arianto 8. MSOP Conversion I & III 129,311,724 T: 14-May-07 : 28-May-08
10. Tardi 9. MSOP Conversion II & III 33,502,868 T: 14-Nov-07 : 19-May-10
10. MSOP Conversion III 86,224,280 T: 19-Nov-07 : 16-Dec-10
AUDIT COMMITTEE 11. MSOP Conversion II 44,125 02-Jun-10 02-Jun-10
1. Aviliani 12. Right Issue 2,313,505,257 02-Mar-11 02-Mar-11
2. Askolani
3. Budi Sulistio
4. Goei Siauw Hong
5. Ridwan Darmawan Ayub
CORPORATE SECRETARY
Rohan Hafas
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
14,000 240 Jan-12 7,150 6,600 6,700 38,879 724,875 4,954,614 21
Feb-12 6,750 6,000 6,450 76,926 1,462,741 9,269,521 21
12,250 210 Mar-12 6,950 6,350 6,850 45,324 984,952 6,573,813 21
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
10,500 180
Jun-12 7,350 6,550 7,200 24,789 420,561 2,956,044 21
Jul-12 8,300 6,850 8,300 30,999 586,543 4,352,468 22
8,750 150
Aug-12 8,600 7,350 7,800 26,979 398,429 3,208,709 19
Sep-12 8,300 7,600 8,200 31,515 480,997 3,812,109 20
7,000 120
Oct-12 8,400 7,900 8,250 23,531 473,867 3,854,682 22
Nov-12 8,900 8,150 8,250 25,336 417,060 3,548,485 20
5,250 90 Dec-12 8,450 7,700 8,100 38,789 660,905 5,339,337 18
3,500 60 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
1,750 30 Mar-13 10,050 9,450 10,000 38,478 570,412 5,577,493 19
Apr-13 10,750 9,800 10,500 33,768 525,014 5,402,910 22
May-13 10,550 9,700 9,700 47,425 748,146 7,579,728 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
Aug-13 8,900 6,250 7,100 67,391 1,083,003 8,108,305 17
Sep-13 10,300 6,550 7,950 73,619 1,026,893 8,219,662 21
105%
Jan-14 9,525 7,600 8,700 76,373 650,120 5,508,866 20
90% Feb-14 9,650 8,400 9,100 76,609 701,451 6,330,151 20
Mar-14 10,250 9,000 9,450 87,370 821,343 7,785,861 20
75% Apr-14 10,350 9,525 9,825 83,068 758,989 7,503,307 20
May-14 10,825 9,775 10,175 67,908 527,196 5,392,549 18
60% Jun-14 10,250 9,625 9,725 62,399 585,096 5,798,770 21
Jul-14 11,000 9,625 10,250 87,146 885,176 9,132,248 18
Aug-14 10,650 10,025 10,375 59,900 443,282 4,620,858 20
45%
40.1% Sep-14 10,700 9,825 10,075 67,815 578,571 5,988,220 22
36.8% Oct-14 10,375 9,300 10,350 91,426 651,302 6,403,397 23
30%
Nov-14 10,725 10,100 10,525 54,054 359,724 3,761,633 20
Dec-14 10,875 10,125 10,775 57,885 416,710 4,418,807 20
18.1%
15%
Jan-15 11,375 10,600 11,000 66,447 515,375 5,623,454 21

- Feb-15 12,300 10,950 12,000 65,366 563,345 6,593,778 19
Mar-15 12,475 11,750 12,475 70,026 428,152 5,146,324 22
-15% Apr-15 12,550 10,350 10,750 80,765 638,748 7,347,327 21
Jun-15 10,825 9,350 10,050 91,798 706,310 7,092,455 21
Jul-15 10,400 9,275 9,525 78,628 566,167 5,596,610 19
Days 246 244 242 244 20 Dec-15 9,250 8,450 9,250 66,540 386,816 3,436,104 19
Price (Rupiah) Jan-16 9,600 9,000 9,600 63,648 481,137 4,499,144 20

High 8,900 10,750 11,000 12,550 9,600
Low 6,000 6,250 7,600 7,150 9,000
Close 8,100 7,850 10,775 9,250 9,600
Close* 8,100 7,850 10,775 9,250 9,600
PER (X) 11.63 10.06 13.05 10.99 11.41

PER Industry (X) 6.58 17.20 27.72 21.00 24.73
PBV (X) 2.47 2.06 2.54 1.91 1.98

Cash on Hand 11,357,523 15,286,190 19,051,934 20,704,563 25,109,124 912,500

12,002,918 10,769,775 26,802,548 40,465,158 43,641,564 730,000
Loans 298,988,258 370,570,356 450,634,798 505,394,870 564,393,595
547,500
Investment 38,785 11,366,225 616,821 766,524 646,753
Fixed Assets 6,589,594 7,002,690 7,645,598 8,928,856 9,761,688
365,000
Other Assets 7,249,901 7,339,965 8,908,732 11,239,398 11,292,727
Total Assets 551,891,704 635,618,708 733,099,762 855,039,673 910,063,409 182,500
Growth (%) 15.17% 15.34% 16.63% 6.44%
-
Deposits 397,046,488 456,854,700 521,439,569 600,980,756 634,968,568 2011 2012 2013 2014 2015
Taxes Payable 761,737 2,662,421 2,126,864 1,875,141 2,131,616
Fund Borrowings 11,703,498 11,608,832 15,997,188 24,227,104 33,764,671
Growth (%) 14.28% 15.24% 16.43% -1.87% 104,845
88,791
95,116
76,533
Paid up Capital 11,666,667 11,666,667 11,666,667 11,666,667 11,666,667
70,739 62,654
Par Value 500 500 500 500 500 46,363

Total Equity 62,654,408 76,532,865 88,790,596 104,844,562 119,491,841 21,986
Growth (%) 22.15% 16.02% 18.08% 13.97%

-2,390
2011 2012 2013 2014 2015

Growth (%) 12.78% 18.00% 24.75% 14.26%
11,768,351 11,897,822 14,686,637 14,687,815 18,378,678 62,638

71,570

50,209
Growth (%) 20.04% 20.01% 10.30% 1.39% 42,370 37,730
Non-Operating Revenues 163,102 878,821 510,126 29,909 30,458

27,769

13,169
Growth (%) 26.37% 17.37% 9.69% 2.41% 2011 2012 2013 2014 2015

20,655 21,152
18,830
21,152

16,044
Dividend (Rp) 104.97 199.33 234.05 212.91 261.45 16,837
524.83 664.46 780.16 851.65 871.50 12,696

EPS (Rp)
2,685.19 3,279.98 3,805.31 4,493.34 5,121.08
12,522
BV (Rp)
DAR (X) 0.89 0.88 0.88 0.88 0.81 8,207
DER(X) 7.81 7.31 7.26 7.16 6.16

ROA (%) 2.30 2.52 2.57 2.42 2.32 3,892
ROE (%) 20.26 20.96 21.21 19.70 17.70

OPM (%) 43.33 46.12 46.91 41.47 36.80
-423
2011 2012 2013 2014 2015

NPM (%) 33.65 37.70 37.50 32.97 29.55
Payout Ratio (%) 20.00 30.00 30.00 25.00 30.00
Yield (%) 1.56 2.46 2.98 1.98 2.83

COMPANY REPORT
BMTR
GLOBAL MEDIACOM TBK.
Company Profile
The Company started commercial operations in 1982. The scope of companies 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.

The Company is supported by two main lines of businesses that have generated major
revenue contribution, namely, content and advertising‐based media managed by PT Media
Nusantara Citra Tbk. (MNC) and subscription‐based media, managed by PT MNC Sky Vision
Tbk (MSKY). Besides content and advertising‐based media and subscription‐based media,
The Company is also engaged in the investment, infrastructure, new media (news portal
and online home shopping).
The Company focuses targets for its business lines mainly MNC and MNC Sky Vision.
Through FTA TV, MNC targets to be the leading national TV among others by increasing
audience share through broadcasting high quality TV programming and developing content
business. Through SINDOTV, MNC also targets to transform local TV SindoTV into national
TV network by integrating existing 40 regional broadcasters. Through MNC Sky Vision, the
company targets to improve the service quality delivered to the subscribers by providing
and developing exclusive contents to suit market demands and thus to increase subscribers
by enhancing good relationships with new and loyal customers.
The Company has its excellence in providing the srength of its core business (FTA & PayTV)
and broadcast distinguished porgrams that attract more viewership especially women.
Through MSKY, the Company also has a competitive edge as it controls its sales and
distributions and has close to 20 exclusive TV channels, leveraging in particular its local
content library.
At September 30th, 2015 the Company and its subsidiaries (“Group”) had total employees
of 12,056 employees.
February 2016
Disclaimer:

BMTR Global Mediacom Tbk. [S]
Industry Sub Sector : Investment Company (98) Market Capitalization : 11,358,891,137,600
64 | 11.4T | 0.23% | 80.83%
67 | 4.58T | 0.33% | 85.91%

Established Date : 30-Jun-1981 1. PT MNC Investama Tbk. 3,506,903,470 : 24.70%
Listing Date : 17-Jul-1995 2. DB AG HK SA PT MNC Investama 3,276,739,030 : 23.08%
Under Writer IPO : 3. DB AG HK-CT S/A Tempus/BMTR-2059974013 964,000,000 : 6.79%
PT Makindo 4. Public (<5%) 6,450,971,422 : 45.43%
PT BSR Indonesia DIVIDEND ANNOUNCEMENT
Komplek Perkantoran ITC Roxy Mas Blok E1 No. 10-11 Bonus Cash Recording Payment
F/I
Jln. K.H. Hasyim Ashari Jakarta 10150 Year Shares Dividend Cum Date Ex Date Date Date
Fax : (021) 631-7827 1996 20.00 05-May-97 06-May-97 15-May-97 03-Jun-97 F
1997 4.50 22-Jun-98 23-Jun-98 01-Jul-98 24-Jul-98 F
BOARD OF COMMISSIONERS 2000 15.00 28-May-01 29-May-01 01-Jun-01 18-Jun-01 F
1. Rosano Barack 2001 20.00 18-Jun-02 19-Jun-02 24-Jun-02 08-Jul-02 F
2. Bambang Rudjianto Tanoesoedibjo 2002 26.00 05-Jun-03 06-Jun-03 10-Jun-03 24-Jun-03 F
3. John Aristianto Prasetio *) 2003 25.00 11-Jun-04 14-Jun-04 16-Jun-04 30-Jun-04 F
4. Beti Puspitasari Santoso *) 2005 1:1 07-Jul-06 10-Jul-06 12-Jul-06 26-Jul-06 S
5. Mohamed Idwan Ganie *) 2006 4.00 11-Jul-07 12-Jul-07 16-Jul-07 30-Jul-07 F
*) Independent Commissioners 2007 14.56 28-Nov-07 29-Nov-07 03-Dec-07 17-Dec-07 I
2008 3.50 06-Nov-09 09-Nov-09 25-Nov-09 25-Nov-09 F
BOARD OF DIRECTORS 2009 5.00 03-Dec-10 06-Dec-10 09-Dec-10 23-Dec-10 F
1. Hary Tanoesoedibjo 2010 10.00 06-Dec-11 07-Dec-11 09-Dec-11 23-Dec-11 F
2. David Fernando Audy 2012 24.00 10-Sep-13 11-Sep-13 13-Sep-13 27-Sep-13 F
3. Handhianto Suryo Kentjono 2013 25.00 16-Oct-14 17-Oct-14 21-Oct-14 04-Nov-14 F
4. Indra Pudjiastuti Prastomiyono 2014 25.00 27-May-15 28-May-15 01-Jun-15 19-Jun-15 F
5. Oerianto Guyandi
6. Syafril Nasution ISSUED HISTORY
7. Christophorus Taufik Siswandi Listing Trading
AUDIT COMMITTEE 1. First Issue 200,000,000 T: 17-Jul-95 : 10-Jun-10
1. Beti Puspitasari Santoso 2. Company Listing 760,000,000 T: 17-Jul-95 : 11-Jun-10
2. Hery Kusnanto 3. Convertible Bond 57,000,000 T: 17-Jul-95 : 20-Feb-96
3. John Aristianto Prasetio 4. Option Conversion 1,088,576 T: 30-Apr-02 : 03-Jun-02
4. Mohamed Idwan Ganie 5. ESOP Conversion 84,293,938 T: 20-Jun-02 : 19-Sep-11
6. Right Issue 266,978,118 28-Jul-04 28-Jul-04
CORPORATE SECRETARY 7. Bonus Shares 1,299,013,678 26-Jul-06 26-Jul-06
Ajun Sri Damayanti 8. Stock Split 10,417,945,240 24-Apr-07 24-Apr-07
9. Additional Listing without RI 685,168,000 06-Jul-07 06-Jul-07
HEAD OFFICE 10. ESOP Conversion I 43,722,000 T: 17-Mar-11 : 07-Jun-11
MNC Tower 27th - 29th Fl. 11. ESOP Conversion I & II 34,647,500 T: 23-Sep-11 : 12-Mar-12
Jln. Kebon Sirih 17 - 19 12. ESOP Conversion I, II & III 106,578,500 T: 16-Mar-12 : 18-Oct-12
Jakarta 13. ESOP Conversion II & III 5,838,500 28-Sep-12 28-Sep-12
Phone : (021) 390-9211 14. ESOP Conversion II, III, IV & V 62,991,500 29-May-13 29-May-13
Fax : (021) 390-9207, 230-5281, 392-7859 15. Revision ESOP II, III, IV & V 8,000 21-Jun-13 21-Jun-13
16. ESOP Conversion III, IV & V 21,741,500 27-Nov-13 27-Nov-13
Homepage : www.mediacom.co.id 17. ESOP Conversion IV & V 145,911,872 T: 28-May-14 : 20-Nov-14
Email : ajun.damayanti@mncgroup.com

TRADING ACTIVITIES
Global Mediacom Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,800 1,600 Jan-12 1,120 980 1,110 13,633 207,458 214,242 21
Feb-12 1,270 1,100 1,260 15,338 231,702 279,612 21
2,450 1,400 Mar-12 1,660 1,260 1,600 20,226 1,014,874 1,369,969 21
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
2,100 1,200
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
1,750 1,000
Aug-12 1,820 1,710 1,750 27,220 347,523 614,668 19
Sep-12 2,075 1,750 2,050 40,318 651,200 1,225,051 20
1,400 800
Oct-12 2,375 2,050 2,275 49,594 1,949,320 4,263,509 22
Nov-12 2,450 2,100 2,400 36,243 825,913 1,868,399 20
1,050 600 Dec-12 2,625 2,300 2,400 23,246 512,440 1,265,081 18
700 400 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
350 200 Mar-13 2,550 2,275 2,325 34,193 627,244 1,518,188 19
Apr-13 2,400 2,050 2,175 38,596 460,369 1,017,507 22
May-13 2,800 2,075 2,600 51,309 1,054,035 2,583,137 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
Aug-13 2,375 1,370 1,750 46,422 758,529 1,315,192 17
Sep-13 2,125 1,620 1,930 36,501 600,980 1,138,921 21
180%
Jan-14 1,950 1,780 1,850 29,385 195,531 364,107 20
150% Feb-14 2,185 1,745 2,185 34,222 170,355 327,917 20
Mar-14 2,500 2,115 2,350 36,263 293,514 694,364 20
120% Apr-14 2,405 2,100 2,190 42,963 559,651 1,270,060 20
May-14 2,290 2,050 2,050 47,499 551,725 1,208,378 18
90% Jun-14 2,200 2,000 2,125 84,349 985,902 2,107,593 21
Jul-14 2,145 1,900 1,920 42,640 663,996 1,341,742 18
Aug-14 2,045 1,745 1,935 42,518 614,598 1,158,193 20
60%
Sep-14 2,125 1,885 1,945 41,246 406,747 803,456 22
Oct-14 1,965 1,745 1,960 55,469 352,204 666,963 23
30% 33.4%
Nov-14 2,000 1,605 1,605 28,501 203,819 358,803 20
18.1%
Dec-14 1,610 1,375 1,425 40,757 635,529 968,053 20
-
Jan-15 2,015 1,390 1,855 60,991 440,605 793,168 21

-23.1%
-30% Feb-15 2,050 1,720 2,015 46,069 262,325 489,181 19
Mar-15 2,025 1,670 1,750 49,125 373,592 704,175 22
-60% Apr-15 1,795 1,400 1,550 40,448 250,699 402,986 21
Jun-15 1,330 1,045 1,170 71,841 597,032 717,028 21
Jul-15 1,245 1,090 1,245 35,181 211,282 244,332 19
Volume (Million Sh.) 9,619 7,927 5,634 3,669 449 Sep-15 1,180 840 940 28,922 231,215 226,908 21
Value (Billion Rp) 17,238 17,013 11,270 4,969 405 Oct-15 1,140 870 870 30,983 161,906 163,411 21
Frequency (Thou. X) 358 484 526 525 82 Nov-15 925 780 835 20,310 210,002 178,602 21
Days 246 244 242 244 20 Dec-15 1,120 660 1,100 61,575 393,682 333,699 19
Price (Rupiah) Jan-16 1,170 770 800 81,856 449,021 404,960 20

High 2,625 2,800 2,500 2,050 1,170
Low 980 1,370 1,375 660 770
Close 2,400 1,900 1,425 1,100 800
Close* 2,400 1,900 1,425 1,100 800
PER (X) 16.21 43.04 22.00 -91.05 -66.21

PER Industry (X) 19.08 15.42 22.13 12.43 12.79
PBV (X) 2.34 2.00 1.29 1.03 0.75

Public Accountant : Osman Bing Satrio & Eny (Member of Deloitte Touche Tohmatsu Limited)
BALANCE SHEET Dec-11 Dec-12 Dec-13 Dec-14 Sep-15 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
Cash & Cash Equivalents 8,962,428 952,529 1,529,588 1,485,421 894,600 27,500
Receivables 2,843,567 3,113,957 3,630,541 3,617,304 3,948,508

1,041,615 1,636,122 1,803,445 2,038,756 2,018,094 22,000
Inventories
Current Assets 6,584,939 10,781,083 9,748,947 10,699,101 10,461,555
16,500
Fixed Assets 2,905,092 3,734,879 4,906,183 6,299,156 7,429,016
Other Assets 629,706 605,330 824,763 1,260,497 510,212
11,000
Total Assets 15,111,603 19,995,526 21,069,471 25,365,211 26,580,120
Growth (%) 32.32% 5.37% 20.39% 4.79% 5,500

Long Term Liabilities 2,311,045 3,218,162 4,035,376 6,927,055 8,457,759 2011 2012 2013 2014 Sep-15
Growth (%) 32.68% 35.38% 22.99% 20.57%
15,137
Paid up Capital 1,379,116 1,396,796 1,405,270 1,419,861 1,419,861 15,875
14,296
13,353
Par Value 100 100 100 100 100 10,816
12,636

9,398
Total Equity 10,815,788 14,295,756 13,353,037 15,874,525 15,137,348

Growth (%) 32.17% -6.59% 18.88% -4.64% 6,159
INCOME STATEMENTS Dec-11 Dec-12 Dec-13 Dec-14 Sep-15 2,921
Total Revenues 7,162,935 8,925,419 10,019,977 10,657,152 8,204,736

Growth (%) 24.61% 12.26% 6.36%
-317
2011 2012 2013 2014 Sep-15
Cost of Revenues 3,919,690 4,753,060 5,486,919 6,131,982 4,971,348

Gross Profit 3,243,245 4,172,359 4,533,058 4,525,170 3,233,388
Expenses (Income) 1,646,710 1,610,968 3,021,595 2,607,623 2,948,164
10,657
10,020
Growth (%) 8,925
8,205
7,163
8,483

Income before Tax 1,596,535 2,561,391 1,511,463 1,917,547 285,224 6,309
Tax 432,765 567,902 481,817 627,539 290,326

Profit for the period 1,163,770 1,993,489 1,029,646 1,290,008 -5,102 4,135
Growth (%) 71.30% -48.35% 25.29%

1,961
Period Attributable 779,363 1,299,085 620,395 704,981 -128,660 -213
Comprehensive Income 1,190,493 2,068,219 1,101,619 1,194,206 -128,309 2011 2012 2013 2014 Sep-15
Comprehensive Attributable 796,711 1,369,492 692,368 609,179 -251,867
RATIOS Dec-11 Dec-12 Dec-13 Dec-14 Sep-15 PROFIT FOR THE PERIOD (Bill. Rp)
Current Ratio (%) 331.77 434.44 264.84 417.34 350.47
1,993
Dividend (Rp) - 24.00 25.00 25.00 - 1,993
EPS (Rp) 56.51 93.00 44.15 49.65 -9.06

BV (Rp) 784.25 1,023.47 950.21 1,118.03 1,066.11 1,594
1,290
DAR (X) 0.28 0.29 0.37 0.37 0.43 1,164
1,030
0.40 0.40 0.58 0.60 0.76
1,194
DER(X)
ROA (%) 7.70 9.97 4.89 5.09 -0.02 794
ROE (%) 10.76 13.94 7.71 8.13 -0.03

GPM (%) 45.28 46.75 45.24 42.46 39.41 395
OPM (%) - - - - - Sep-15

NPM (%) 16.25 22.33 10.28 12.10 -0.06
-5
2011 2012 2013 2014 -5.1

Payout Ratio (%) - 25.81 56.63 50.35 -
Yield (%) - 1.00 1.32 1.75 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
BSDE
BUMI SERPONG DAMAI TBK.
Company Profile

PT Bumi Serpong Damai Tbk. was established in 1984 and started its commercial operations
in 1989. The Company’s pupose and objective is to engage in real estate development
activities.

Nowadays, the Company has become a leading property developer in Indonesia with the
main property projects situated in Serpong (BSD City), and diversifying to Jakarta, Bekasi,
Cibubur, Surabaya, Medan and Balikpapan, also expanding to Samarinda, Manado and
Palembang.

Since 2008, the Company has become a public company that listed in the Indonesia Stock
Exchange. In end of 2010, the Company has done the acquisition process on affiliated
companies in PT Duta Pertiwi Tbk., PT Sinar Mas Teladan and PT Sinar Mas Wisesa. The
acquisition is expected to increase Company’s performance particularly due to higher
revenue portfolio and business diversification.

The Company’s purpose and objective is to engage in real estate development activities.
The Company has been developing a new city, which is a planned and integrated residential
area, with amenities/infrastructure, environmental facilities and parks, called the BSD City.

As of 31 December 2015, the Company had 2,224 employees.
February 2016
Disclaimer:

BSDE Bumi Serpong Damai Tbk. [S]
24 | 33.3T | 0.68% | 65.15%
32 | 11.4T | 0.83% | 66.59%

Established Date : 16-Jan-1984 1. PT Paraga Arta Mida 5,113,851,730 : 26.57%
Listing Date : 06-Jun-2008 2. PT Ekacentra Usahamaju 5,095,531,900 : 26.47%
PT CLSA Indonesia
PT Nusadana Capital Indonesia DIVIDEND ANNOUNCEMENT
PT Sinarmas Sekuritas Bonus Cash Recording Payment
F/I
PT Sinartama Gunita 2008 4.00 01-Jul-09 02-Jul-09 06-Jul-09 22-Jul-09 F
Sinar Mas Land Plaza Menara I, 9th Fl. 2009 6.00 01-Jul-10 02-Jul-10 06-Jul-10 20-Jul-10 F
Jln. M.H. Thamrin No. 51, Jakarta 10350 2010 6.00 05-Jul-11 06-Jul-11 08-Jul-11 22-Jul-11 F
2014 15.00 13-May-15 15-May-15 19-May-15 05-Jun-15 F
BOARD OF COMMISSIONERS
1. Muktar Widjaja ISSUED HISTORY
2. Susiyati Bambang Hirawan *) Listing Trading
3. Teddy Pawitra *) No. Type of Listing Shares Date Date
4. Teky Mailoa 1. First Issue 1,093,562,000 06-Jun-08 06-Jun-08
5. Yoseph Fransciscus Bonang 2. Company Listing 9,842,060,870 06-Jun-08 01-Feb-09
*) Independent Commissioners 3. Right Issue I 6,561,373,722 21-Dec-10 21-Dec-10
4. Add. Listing without Right Issue 874,849,800 16-May-14 16-May-14
BOARD OF DIRECTORS 5. Add. Listing without Right Issue 874,849,800 14-Apr-15 14-Apr-15
1. Franciscus Xaverius Ridwan Darmali
2. Hermawan Wijaya
3. Liauw Herry Hendarta
4. Lie Jani Harjanto
5. Michael J.P. Widjaja
6. Monik William
7. Petrus Kusuma
8. Syukur Lawigena
AUDIT COMMITTEE
1. Susiyati Bambang Hirawan
2. Rusli Prakarsa
3. Herawan Hadidjaja
CORPORATE SECRETARY
Christy Grassela
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 : christy.grassela@sinarmasland.com

TRADING ACTIVITIES
Bumi Serpong Damai Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,400 560 Jan-12 1,070 940 1,050 7,492 502,946 511,007 21
Feb-12 1,250 1,060 1,150 11,872 802,356 934,604 21
2,100 490 Mar-12 1,330 1,120 1,290 13,823 513,779 633,843 21
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
1,800 420
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
1,500 350
Aug-12 1,160 930 1,000 17,225 653,709 691,237 19
Sep-12 1,130 930 1,130 21,262 699,555 727,882 20
1,200 280
Oct-12 1,310 1,020 1,240 25,587 1,192,184 1,397,115 22
Nov-12 1,290 1,180 1,210 11,502 584,368 723,218 20
900 210 Dec-12 1,270 1,080 1,110 12,996 528,628 627,165 18
600 140 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
300 70 Mar-13 1,790 1,530 1,750 23,894 948,716 1,580,124 19
Apr-13 1,760 1,590 1,730 26,272 941,130 1,588,336 22
May-13 2,200 1,730 2,200 59,301 1,979,407 3,721,967 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
Aug-13 1,670 1,180 1,310 29,602 615,728 878,562 17
Sep-13 1,850 1,200 1,440 36,856 637,213 913,406 21
210%
Jan-14 1,600 1,200 1,440 37,323 489,096 698,307 20
180% Feb-14 1,600 1,405 1,535 33,288 536,893 824,896 20
Mar-14 1,750 1,490 1,635 49,830 1,086,155 1,786,918 20
150% Apr-14 1,705 1,455 1,560 41,654 642,305 1,023,903 20
May-14 1,620 1,510 1,610 25,751 310,042 488,501 18
131.3%
120% Jun-14 1,610 1,425 1,485 29,429 250,899 386,497 21
Jul-14 1,685 1,470 1,585 41,820 581,695 937,267 18
96.6% Aug-14 1,655 1,525 1,605 35,408 402,011 642,263 20
90%
Sep-14 1,660 1,510 1,545 38,489 410,647 651,533 22
Oct-14 1,610 1,420 1,605 44,191 469,700 713,262 23
60%
Nov-14 1,790 1,510 1,770 25,353 415,384 676,549 20
Dec-14 1,895 1,620 1,805 38,562 571,770 1,026,692 20
30%
23.8%
Jan-15 2,185 1,790 2,020 54,447 1,380,570 2,725,175 21
- Feb-15 2,230 1,990 2,220 53,279 819,829 1,719,779 19
Mar-15 2,220 1,995 2,135 62,387 862,616 1,783,198 22
-30% Apr-15 2,210 1,800 1,865 47,444 642,577 1,310,178 21
Jun-15 1,925 1,605 1,670 49,946 418,594 739,731 21
Jul-15 1,885 1,660 1,790 40,599 339,339 597,979 19
Volume (Million Sh.) 9,294 11,028 6,167 7,020 505 Sep-15 1,605 1,235 1,405 52,164 309,768 451,821 21
Value (Billion Rp) 11,108 17,817 9,857 13,220 890 Oct-15 1,795 1,380 1,620 48,845 539,657 893,122 21
Days 246 244 242 244 20 Dec-15 1,835 1,580 1,800 38,504 372,398 645,560 19
Price (Rupiah) Jan-16 1,850 1,650 1,730 40,294 505,407 890,031 20

High 1,490 2,200 1,895 2,230 1,850
Low 930 1,090 1,200 1,235 1,650
Close 1,110 1,290 1,805 1,800 1,730
Close* 1,110 1,290 1,805 1,800 1,730
PER (X) 13.12 8.39 7.76 15.03 14.44

PER Industry (X) 17.34 9.57 16.29 18.66 17.68
PBV (X) 1.84 1.68 1.89 1.60 1.54

Public Accountant : Mulyamin Sensi Suryanto & Lianny (independent member of Moore Stephens International Limited)
Receivables 86,978 83,188 110,327 138,627 165,542

3,012,273 3,374,802 3,796,776 5,239,017 6,547,652 29,000
Inventories
Investment 636,702 769,378 1,652,477 5,735,418 6,332,810
21,750
Fixed Assets 486,920 415,371 437,868 607,790 803,253
Other Assets 5,849 415 415 415 415
14,500
Total Assets 12,787,377 16,756,718 22,572,159 28,134,725 36,022,148
Growth (%) 31.04% 34.71% 24.64% 28.03% 7,250
Bank Payable 97,000 91,000 1,362,669 1,523,011 2,056,800 -

Trade Payable 44,602 177,681 95,715 158,055 316,601 2011 2012 2013 2014 Dec-15
Growth (%) 37.41% 47.10% 5.51% 44.14%
Paid up Capital 1,749,700 1,749,700 1,749,700 1,837,185 1,924,670 21,643
18,473
Par Value 100 100 100 100 100 17,228
13,415
Total Equity 8,257,225 10,531,704 13,415,298 18,473,430 22,096,690 10,532
12,813
8,257
Growth (%) 27.55% 27.38% 37.70% 19.61% 8,398
Total Revenues 2,806,339 3,727,812 5,741,264 5,571,872 6,209,574

Growth (%) 32.84% 54.01% -2.95% 11.45%
-433
2011 2012 2013 2014 Dec-15
Cost of Revenues 1,021,278 1,346,826 1,575,447 1,440,361 1,571,559

Gross Profit 1,785,061 2,380,986 4,165,817 4,131,511 4,638,016
Operating Expenses 824,506 949,431 1,256,190 1,499,935 2,090,606
Operating Profit 960,555 1,431,555 2,909,627 2,631,576 2,547,410 6,210
5,741 5,572
Growth (%) 49.03% 103.25% -9.56% -3.20% 5,741
Other Income (Expenses) 155,769 221,921 322,189 8,170 -232,949 4,570
3,728
2,806
Tax 158,197 217,705 373,306 309,862 10,702
Growth (%) 46.13% 96.48% 37.54% -41.16%

1,056
Period Attributable 840,780 1,286,047 2,691,396 3,820,552 2,139,497 -115
Comprehensive Attributable 840,949 1,287,149 2,695,880 3,817,256 2,134,233
Dividend (Rp) - 15.00 15.00 15.00 -
3,996
EPS (Rp) 48.05 73.50 153.82 207.96 111.16 3,996
BV (Rp) 471.92 601.91 766.72 1,005.53 1,148.08

2,906
DAR (X) 0.35 0.37 0.41 0.34 0.39 3,181
DER(X) 0.55 0.59 0.68 0.52 0.63 2,351
7.91 8.83 12.87 14.20 6.53

2,366
ROA (%)
12.26 14.04 21.66 21.63 10.64 1,479
ROE (%) 1,551
63.61 74.15 1,012

GPM (%) 63.87 72.56 74.69
OPM (%) 34.23 38.40 50.68 47.23 41.02 735
NPM (%) 36.06 39.67 50.61 71.73 37.87

Payout Ratio (%) - 20.41 9.75 7.21 -
-80
2011 2012 2013 2014 Dec-15

Yield (%) - 1.35 1.16 0.83 -

COMPANY REPORT
CPIN
CHAROEN POKPHAND INDONESIA TBK.
Company Profile
PT Charoen Pokphand Indonesia Tbk. was established dated January 7th, 1972. The
Company started its commercial operations in 1972.

The Company is engaged in poultry feed, breeding and cultivation of broiler together with
its processing, processed food, preservation of chicken and beef including cold storage
units, selling poultry feed, chicken and beef, materials from animal sources within the
territory of Republic of Indonesia.

The Company’s branches are located in Sidoardjo, Medan, Tangerang, Cirebon, Balaraja,
Serang, Lampung, Denpasar, Surabaya, Semarang, Makasar, and Salatiga.

The Company has direct and indirect ownership in subsidiaries:
 PT Charoen Pokphand Jaya Farm,
 PT Primafood International,
 PT Vista Grain,
 PT Poly Packaging Industry,
 PT Feprotama Pertiwi,
 PT Agrico International,
 PT Sarana Farmindo Utama
 PT Singa Mas International
 PT Prima Ritel Indonesia
 PT Prima Persada Propertindo.

The Company and Subsidiaries had 4,797 employees as of December 31st, 2015.
February 2016
Disclaimer:

CPIN Charoen Pokphand Indonesia Tbk. [S]
Industry Sector : Basic Industry And Chemicals (3) Listed Shares : 16,398,000,000
Industry Sub Sector : Animal Feed (36) Market Capitalization : 54,851,310,000,000
16 | 54.9T | 1.12% | 57.99%
60 | 5.41T | 0.40% | 83.42%

Established Date : 07-Jan-1972 1. PT Central Agromina 9,106,385,410 : 55.53%
Listing Date : 18-Mar-1991 2. Public (<5%) 7,291,614,590 : 44.47%
Under Writer IPO :
PT Danareksa DIVIDEND ANNOUNCEMENT
PT Makindo Bonus Cash Recording Payment
F/I
PT Asean Development Securities Year Shares Dividend Cum Date Ex Date Date Date
PT Surya Securities 1990 50.00 25-Jul-91 26-Jul-91 02-Aug-91 21-Aug-91 F
Securities Administration Bureau : 1991 175.00 03-Jun-92 04-Jun-92 15-Jun-92 22-Jun-92 F
PT Adimitra Jasa Korpora 1992 200.00 30-Oct-92 02-Nov-92 09-Nov-92 17-Nov-92 I
Rukan Kirana Boutique Office 1992 315.00 15-Jun-93 16-Jun-93 24-Jun-93 23-Jul-93 F
Jln. Kirana Avenue III Blok F3 No. 5, Kelapa Gading, Jakarta Utara 1993 200.00 02-Dec-93 03-Dec-93 10-Dec-93 20-Dec-93 I
Phone : (021) 2974-5222 1993 73.00 22-Jul-94 25-Jul-94 01-Aug-94 01-Sep-94 I
Fax : 1993 73.00 22-Jul-94 25-Jul-94 01-Aug-94 01-Sep-94 F
1994 155.00 13-Jul-95 14-Jul-95 24-Jul-95 10-Aug-95 F
BOARD OF COMMISSIONERS 1995 230.00 21-Sep-95 22-Sep-95 02-Oct-95 09-Oct-95 I
1. Hadi Gunawan Tjoe 1997 4:1 06-Jun-97 09-Jun-97 17-Jun-97 01-Jul-97 B
2. Herman Sugianto *) 1996 20.00 27-Aug-97 28-Aug-97 05-Sep-97 01-Oct-97 F
3. Jiacipto Jiaravanon (passed away on 8 Dec 2015) 1999 50.00 11-Sep-00 12-Sep-00 19-Sep-00 05-Oct-00 F
4. Jialipto Jiaravanon 2001 10.00 02-Aug-02 05-Aug-02 08-Aug-02 15-Aug-02 F
5. Suparman S. *) 2002 15.00 23-Sep-03 24-Sep-03 26-Sep-03 10-Oct-03 F
6. Tjiu Thomas Effendy 2006 38.00 30-Jul-07 31-Jul-07 02-Aug-07 16-Aug-07 F
2010 39.80 16-Jun-11 17-Jun-11 21-Jun-11 05-Jul-11 F
BOARD OF DIRECTORS 2011 42.00 07-Jun-12 08-Jun-12 12-Jun-12 26-Jun-12 F
1. Rusmin Riyadi 2012 46.00 28-Jun-13 01-Jul-13 03-Jul-13 17-Jul-13 F
2. Eddy Dharmawan Mansjoer 2013 46.00 30-Jun-14 01-Jul-14 03-Jul-14 18-Jul-14 F
3. Ferdiansyah Gunawan Tjoe 2014 18.00 26-Jun-15 29-Jun-15 01-Jul-15 15-Jul-15 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. Kong Djung Hin 4. Convertible Bonds 839,738 20-Oct-94 20-Oct-94
3. Petrus Julius 5. Convertible Bonds 2,967,029 01-Dec-94 01-Dec-94
4. Suparman Sastrodimedjo 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) 692-7068, 691-9999
Fax : (021) 690-7324
Homepage : www.cp.co.id
Email : hadijanto@cp.co.id
cpi-jkt@cp.co.id

TRADING ACTIVITIES
Charoen Pokphand Indonesia Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
5,600 640 Jan-12 2,550 2,100 2,500 28,901 362,122 843,531 21
Feb-12 2,875 2,425 2,675 22,290 354,584 947,040 21
4,900 560 Mar-12 2,775 2,525 2,750 16,781 233,594 623,275 21
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
4,200 480
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
3,500 400
Aug-12 3,200 2,600 2,700 23,263 254,560 729,813 19
Sep-12 3,025 2,650 3,025 19,062 243,921 697,362 20
2,800 320
Oct-12 3,200 2,925 3,125 15,684 168,547 516,572 22
Nov-12 3,475 3,000 3,425 17,577 190,871 612,019 20
2,100 240 Dec-12 3,650 3,125 3,650 17,348 464,529 1,521,474 18
1,400 160 Jan-13 4,025 3,400 3,875 22,837 172,807 627,478 21

Feb-13 4,675 3,750 4,400 25,887 190,399 791,775 20
700 80 Mar-13 5,250 4,325 5,050 34,984 357,500 1,704,379 19
Apr-13 5,100 4,600 5,050 26,573 221,332 1,063,057 22
May-13 5,550 4,750 4,950 29,496 191,522 967,147 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
Aug-13 4,375 2,550 3,375 35,992 253,915 878,789 17
Sep-13 4,600 2,575 3,400 49,512 439,354 1,528,570 21
Basic Industry and Chemicals Index Nov-13 4,000 3,400 3,400 25,525 174,913 655,437 20
150%
Jan-14 4,225 3,260 4,135 52,996 197,493 749,683 20
125% Feb-14 4,245 3,840 4,235 39,926 164,966 664,928 20
Mar-14 4,500 3,950 3,995 52,039 218,463 911,471 20
100% Apr-14 4,280 3,770 3,770 55,123 207,713 833,655 20
May-14 4,025 3,690 3,775 36,562 202,005 788,856 18
75% Jun-14 3,940 3,700 3,770 37,159 94,959 363,997 21
Jul-14 4,070 3,750 3,950 38,918 702,054 2,740,259 18
52.0% Aug-14 4,080 3,845 3,845 36,653 123,617 493,004 20
50%
Sep-14 4,345 3,800 4,240 51,557 196,641 815,987 22
Oct-14 4,250 3,700 4,200 46,971 165,721 661,121 23
25%
18.1% Nov-14 4,160 3,725 4,110 32,369 150,127 589,361 20
Dec-14 4,230 3,700 3,780 47,461 159,444 621,438 20
- -1.1%
Jan-15 4,025 3,725 3,955 47,230 169,097 657,060 21
-25% Feb-15 3,925 3,740 3,785 39,903 181,862 693,947 19
Mar-15 3,830 3,345 3,545 45,919 172,460 631,070 22
-50% Apr-15 3,695 2,820 2,835 50,293 137,795 460,367 21
Jun-15 3,190 2,700 2,750 42,679 113,524 331,980 21
Jul-15 2,890 2,450 2,535 38,397 95,655 260,266 19
Days 246 244 242 244 20 Dec-15 3,400 2,600 2,600 65,525 195,345 577,969 19
Price (Rupiah) Jan-16 3,400 2,605 3,345 54,758 196,108 586,715 20

High 3,650 5,550 4,500 4,025 3,400
Low 2,100 2,550 3,260 1,350 2,605
Close 3,650 3,375 3,780 2,600 3,345
Close* 3,650 3,375 3,780 2,600 3,345
PER (X) 22.33 21.87 27.14 23.21 29.86

PER Industry (X) 9.79 6.83 16.60 5.33 6.00
PBV (X) 7.32 5.56 5.68 3.39 4.37

Cash & Cash Equivalents 876,198 954,694 1,146,852 884,831 1,679,273 25,000
Receivables 1,381,707 1,846,576 2,531,089 3,522,209 3,339,849

2,339,543 3,366,317 4,044,737 4,333,238 5,454,001 20,000
Inventories
Current Assets 5,250,245 7,180,890 8,824,900 10,009,670 12,013,294
15,000
Fixed Assets 3,198,604 4,593,000 6,389,545 9,058,302 11,123,465
Other Assets 51,645 46,105 49,920 78,296 83,965
10,000
Total Assets 8,848,204 12,348,627 15,722,197 20,862,439 24,684,915
Growth (%) 39.56% 27.32% 32.69% 18.32% 5,000

Growth (%) 56.92% 38.33% 71.87% 22.22%
Paid up Capital 163,980 163,980 163,980 163,980 163,980 11,959
10,943
Par Value 10 10 10 10 10 9,519
8,176
6,189
Total Equity 6,189,470 8,176,464 9,950,900 10,943,289 12,561,427
7,080
Growth (%) 32.10% 21.70% 9.97% 14.79% 4,640
Total Revenues 17,957,972 21,310,925 25,662,992 29,150,275 30,107,727

Growth (%) 18.67% 20.42% 13.59% 3.28%
-239
2011 2012 2013 2014 Dec-15
Cost of Revenues 14,033,726 16,819,413 20,513,184 25,016,020 24,967,568

Gross Profit 3,924,246 4,491,512 5,149,808 4,134,255 5,140,159
Expenses (Income) 915,033 1,032,832 1,571,511 1,766,507 1,652,086
Growth (%) 14.94% 8.66% -37.00% 47.32% 29,150
25,663
21,311
-34,633 -82,181 -126,964 -260,856 -1,206,445
23,204
Other Income (Expenses) 17,958

Tax 612,083 695,627 922,643 360,248 449,030

Growth (%) 13.48% -5.68% -30.93% 4.92%

5,364
Current Ratio (%) 333.23 331.28 379.23 224.07 210.62
2,681
Dividend (Rp) 42.00 46.00 46.00 18.00 - 2,529
2,362
2,681
EPS (Rp) 143.64 163.68 154.34 106.52 112.02

BV (Rp) 377.45 498.63 606.84 667.36 766.03 2,134
1,833
1,747
DAR (X) 0.30 0.34 0.37 0.48 0.49
0.43 0.51 0.58 0.91 0.97
1,587
DER(X)
ROA (%) 26.70 21.71 16.08 8.37 7.42 1,040
ROE (%) 38.17 32.79 25.41 15.96 14.59

GPM (%) 21.85 21.08 20.07 14.18 17.07 493
OPM (%) 16.76 16.23 14.64 8.12 11.59

NPM (%) 13.16 12.58 9.85 5.99 6.09
-54
2011 2012 2013 2014 Dec-15

Payout Ratio (%) 29.24 28.10 29.80 16.90 -
Yield (%) 1.95 1.26 1.36 0.48 -

COMPANY REPORT
GGRM
GUDANG GARAM TBK.
Company Profile
PT Gudang Garam Tbk. previously named as PT Perusahaan Rokok Tjap “Gudang Garam”
Kediri (PT Gudang Garam), was established on June 30th, 1971. The Company is a
continuation of a Proprietorship which was established in 1958. In 1969, the Company
changed its legal status to a Partnership and in 1971 it was further changed its existing
legal entity as a Limited Liability Company. Commercial operation was commenced in 1958.
The Company is engaged in cigarette industry and other related cigarette industry
activities. PT Surya Duta Investa is the Company’s ultimate parent.
The Company’s Head Office at Jln. Semampir II/1, Kediri, East Java, and its plants are
located in Kediri, Gempol, and Solo‐Kartasura. The Company also has representative
offices, which are Jakarta Representative Office at Jln. Jenderal A. Yani 79, Jakarta and
Surabaya Representative Office at Jln. Pengenal 7 – 15, Surabaya.
The Company is a leading Kretek cigarette manufacturer in Indonesia which produces
various high quality products, varied from Corn Husk Cigarette (SKL), Handmade Kretek
Cigarette (SKT) and Machine‐made Kretek Cigarette (SKM) that has been distributed both
nationwide and worldwide.
Measured by total asset, products sales gain, number of employees, tax and customs and
other contributions, PT Gudang Garam Tbk. has become a national cigarette company
which gives significant contribution for Indonesia.

The company has direct ownership in subsidiaries:
 PT Surya Pamenang,
 PT Surya Madistrindo,
 PT Graha Surya Media,
 PT Surya Air,
 PT Surya Inti Tembakau,
 PT Surya Abadi Semesta,
 Galaxy Prime Ltd.
The end of 31 December 2015, the Company and subsidiaries had 36,955 employees.
February 2015
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 : 112,270,534,800,000
8 | 112.3T | 2.29% | 46.69%
22 | 15.3T | 1.12% | 56.53%

Established Date : 26-Jun-1958 1. Suryaduta Investama 1,333,146,800 : 69.29%
Listing Date : 27-Aug-1990 2. Suryamitra Kusuma 120,442,700 : 6.26%
Under Writer IPO : 3. Public (<5%) 470,498,500 : 24.45%
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
Securities Administration Bureau : 1992 150.00 22-Jul-93 23-Jul-93 30-Jul-93 23-Aug-93 F
PT Raya Saham Registra 1993 155.00 06-Jul-94 07-Jul-94 14-Jul-94 13-Aug-94 F
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1995 1:1 25-Apr-96 26-Apr-96 06-May-96 03-Jun-96 B
1997 120.00 03-Jul-98 07-Jul-98 15-Jul-98 13-Aug-98 F
BOARD OF COMMISSIONERS 1998 260.00 05-Jul-99 06-Jul-99 14-Jul-99 11-Aug-99 F
1. Juni Setiawati Wonowidjojo 1999 500.00 06-Jul-00 07-Jul-00 17-Jul-00 31-Jul-00 F
2. Frank Willem Van Gelder *) 2000 500.00 27-Nov-00 28-Nov-00 05-Dec-00 19-Dec-00 I
3. Gotama Hengdratsonata *) 2001 300.00 02-Jul-02 03-Jul-02 08-Jul-02 19-Jul-02 F
4. Lucas Mulia Suhardja 2002 300.00 27-Jun-03 30-Jun-03 02-Jul-03 11-Jul-03 F
*) Independent Commissioners 2003 300.00 16-Jul-04 19-Jul-04 21-Jul-04 04-Aug-04 F
2005 500.00 21-Jul-05 22-Jul-05 26-Jul-05 08-Aug-05 F
1. Susilo Wonowidjojo 2006 250.00 23-Jul-07 24-Jul-07 26-Jul-07 09-Aug-07 F
2. Buana Susilo 2007 250.00 15-Jul-08 16-Jul-08 18-Jul-08 01-Aug-08 F
3. Herry Susianto 2008 350.00 14-Jul-09 15-Jul-09 17-Jul-09 30-Jul-09 F
4. Heru Budiman 2009 650.00 13-Jul-10 14-Jul-10 16-Jul-10 29-Jul-10 F
5. Istata Taswin Sidharta 2010 880.00 25-Jul-11 26-Jul-11 28-Jul-11 08-Aug-11 F
6. Lengga Nurullah 2011 1,000.00 30-Jul-12 31-Jul-12 02-Aug-12 16-Aug-12 F
7. Sony Sasono Rahmadi 2012 800.00 22-Jul-13 23-Jul-13 25-Jul-13 15-Aug-13 F
2013 800.00 06-Aug-14 07-Aug-14 11-Aug-14 25-Aug-14 F
AUDIT COMMITTEE 2014 800.00 03-Jul-15 06-Jul-15 08-Jul-15 30-Jul-15 F
1. Gotama Hengdratsonata
2. Chetryana Gunardi ISSUED HISTORY
3. Tony Gunawan Listing Trading
CORPORATE SECRETARY 1. First Issue 57,807,800 27-Aug-90 27-Aug-90
Heru Budiman 2. Partial Listing 38,396,600 27-Aug-90 27-Feb-91
3. Founders Shares 375,197,600 31-May-94 31-May-94
HEAD OFFICE 4. Koperasi 9,620,000 31-May-94 00-Jan-00
Jakarta: Jln. Jend. A. Yani No. 79, Jakarta - 10510 5. Stock Split 481,022,000 03-Jun-96 03-Jun-96
Kediri: Jln. Semampir II/1 Kediri 64121 6. Bonus Shares 962,044,000 04-Jun-96 05-Jun-96
Phone : (021) 420-2460, (0354) 682-091
Fax : (021) 424-3136, (0354) 681-555
Homepage : www.gudanggaramtbk.com
Email : corporate_secretary@gudanggaramtbk.com

TRADING ACTIVITIES
Gudang Garam Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
64,000 16.0 Jan-12 63,250 55,400 57,000 17,928 24,428 1,440,624 21
Feb-12 59,850 50,050 56,750 24,119 33,685 1,855,940 21
56,000 14.0 Mar-12 57,300 51,400 55,050 20,086 30,356 1,645,012 21
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
48,000 12.0
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
40,000 10.0
Aug-12 55,500 48,100 50,100 27,096 41,704 2,143,553 19
Sep-12 50,500 45,900 46,450 18,256 26,130 1,247,867 20
32,000 8.0
Oct-12 53,600 46,250 49,150 18,562 34,242 1,718,568 22
Nov-12 53,000 46,050 52,850 22,959 43,229 2,115,356 20
24,000 6.0 Dec-12 60,450 52,500 56,300 15,404 31,454 1,771,421 18
16,000 4.0 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
8,000 2.0 Mar-13 51,200 45,800 48,950 17,514 32,644 1,590,282 19
Apr-13 54,450 48,600 49,400 28,414 51,702 2,660,507 22
May-13 57,800 49,300 53,500 22,413 41,575 2,221,861 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
Aug-13 43,650 32,000 37,950 22,201 29,240 1,128,039 17
Sep-13 43,900 35,000 35,000 23,464 31,451 1,223,270 21
Consumer Goods Industry Index Nov-13 38,350 34,600 37,000 21,934 34,618 1,262,239 20
100%
Jan-14 45,525 39,700 41,900 36,083 31,659 1,343,558 20
80% Feb-14 48,500 40,600 47,700 32,197 27,944 1,265,725 20
Mar-14 49,550 43,600 49,400 45,202 30,887 1,455,094 20
60% 61.6% Apr-14 57,125 48,075 56,500 47,605 34,082 1,778,189 20
May-14 57,925 52,050 52,050 40,365 29,671 1,633,510 18
40% Jun-14 55,000 51,300 53,500 27,283 14,579 775,015 21
Jul-14 54,475 52,075 54,200 31,574 17,100 913,076 18
Aug-14 55,900 52,925 54,000 28,021 15,965 868,891 20
20% 18.1% Sep-14 57,050 53,750 56,675 31,266 18,150 1,012,034 22
Oct-14 61,500 55,500 57,750 32,263 20,315 1,171,073 23
-
Nov-14 64,250 57,550 61,175 29,427 17,355 1,057,785 20
-7.6%
Dec-14 61,525 57,100 60,700 24,515 12,653 757,153 20
-20%
Jan-15 64,000 51,900 57,800 51,790 31,660 1,822,015 21

-40% Feb-15 58,500 53,400 53,425 34,568 20,001 1,112,549 19
Mar-15 55,325 47,525 51,000 46,689 28,926 1,510,900 22
-60% Apr-15 54,650 49,025 50,000 49,629 33,822 1,754,518 21
Jun-15 47,500 42,000 45,100 37,643 15,845 710,356 21
Jul-15 54,150 44,775 49,500 37,887 20,455 1,000,185 19
Days 246 244 242 244 20 Dec-15 55,000 48,275 55,000 42,043 26,125 1,352,426 19
Price (Rupiah) Jan-16 59,000 52,550 58,350 48,532 30,319 1,683,368 20

High 63,800 57,800 64,250 64,000 59,000
Low 45,900 32,000 39,700 39,500 52,550
Close 56,300 42,000 60,700 55,000 58,350
Close* 56,300 42,000 60,700 55,000 58,350
PER (X) 26.62 18.67 21.67 16.44 17.45

PER Industry (X) 19.75 15.98 24.22 17.69 17.48
PBV (X) 4.07 2.75 3.66 2.78 2.95

Receivables 937,987 1,382,539 2,196,086 1,532,275 1,568,098

28,020,017 26,649,777 30,241,368 34,739,327 37,255,928 52,000
Inventories
Current Assets 30,381,754 29,954,021 34,604,461 38,532,600 42,568,431
39,000
Fixed Assets 8,189,881 10,389,326 14,788,915 18,973,272 20,106,488
Other Assets 479,473 1,122,077 1,318,730 604,404 639,170
26,000
Total Assets 39,088,705 41,509,325 50,770,251 58,220,600 63,505,413
Growth (%) 6.19% 22.31% 14.67% 9.08% 13,000

Growth (%) 2.52% 43.28% 17.04% 2.02%
Paid up Capital 962,044 962,044 962,044 962,044 962,044
33,229
1,924 1,924 1,924 1,924 1,924
35,763
Paid up Capital (Shares) 29,416

Par Value 500 500 500 500 500 26,606
24,551
28,467

Total Equity 24,550,928 26,605,713 29,416,271 33,228,720 38,007,909 21,172
Growth (%) 8.37% 10.56% 12.96% 14.38% 13,876
Total Revenues 41,884,352 49,028,696 55,436,954 65,185,850 70,365,573

Growth (%) 17.06% 13.07% 17.59% 7.95%
-715
2011 2012 2013 2014 Dec-15
Cost of Revenues 31,754,984 39,843,974 44,563,096 51,806,284 54,879,962

Gross Profit 10,129,368 9,184,722 10,873,858 13,379,566 15,485,611
Expenses (Income) 3,514,397 3,159,041 418,214 4,801,910 5,420,744
Operating Profit - 6,025,681 6,691,722 8,577,656 10,064,867 70,366
65,186
Growth (%) 11.05% 28.18% 17.34% 65,186
55,437
49,029
Other Income (Expenses) - -495,035 -755,518 -1,371,811 -1,429,592
51,888
41,884
Tax 1,656,869 1,461,935 1,552,272 1,810,552 2,182,441

Growth (%) -17.94% 7.75% 23.07% 19.60%

11,994
Current Ratio (%) 224.48 217.02 172.21 162.02 177.04
6,453
Dividend (Rp) 1,000.00 800.00 800.00 800.00 - 6,496
EPS (Rp) 2,543.57 2,086.06 2,249.76 2,790.19 3,344.78 5,395

4,958
12,759.77 13,827.70 15,288.42 17,269.85 19,753.73
5,395
BV (Rp) 4,384
4,069
DAR (X) 0.37 0.36 0.42 0.43 0.40 4,295
DER(X) 0.59 0.56 0.73 0.75 0.67 3,194
ROA (%) 12.68 9.80 8.63 9.27 10.16

ROE (%) 20.20 15.29 14.90 16.24 16.98 2,093
GPM (%) 24.18 18.73 19.61 20.53 22.01 993
OPM (%) - 12.29 12.07 13.16 14.30

NPM (%) 11.84 8.30 7.91 8.28 9.17
-108
2011 2012 2013 2014 Dec-15

Payout Ratio (%) 39.31 38.35 35.56 28.67 -
Yield (%) 1.61 1.42 1.90 1.32 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
HMSP
HANJAYA MANDALA SAMPOERNA TBK.
Company Profile
PT Hanjaya Mandala Sampoerna Tbk. was established on October 19th, 1963.

The scope of activities of the Company comprises manufacturing and trading of cigarettes
and investing in other companies. The Company started its commercial operations in 1913
in Surabaya, as a home industry. In 1930, this home industry was officially organised under
the name of NVBM Handel Maatschapij Sampoerna.

The Company is domiciled in Surabaya and its plants are located in Surabaya, Pasuruan,
Malang, Karawang, and Probolinggo. The Company also has a corporate office in Jakarta.

As at December 31st, 2015, The Company and subsidiaries had 29,520 permanent
employees.

The Company is one of the leading tobacco companies in Indonesia. It is the maker of some
of the most well‐known kretek (clove) cigarette brands such as Sampoerna Hijau,
Sampoerna A Mild, and the legendary “King of Kretek” Dji Sam Soe. In fact, on May 18th,
2005, when the company was acquired by Philip Morris International, it became part of
one of the world’s largest tobacco companies. Today the Company distributes Marlboro,
the world’s best‐selling cigarette brand, in Indonesia.

The Company has direct and indirect ownership in a number of subsidiaries among others,
PT Perusahaan Dagang dan Industri Panamas, PT Sampoerna Printpack, PT Handal Logistik
Nusantara, PT Sampoerna Indonesia Sembilan, PT Union Sampoerna Dinamika, PT Taman
Dayu, PT Golf Taman Dayu, PT Wahana Sampoerna, Sampoerna International Pte. Ltd., PT
Harapan Maju Sentosa, and PT Persada Makmur Indonesia.

February 2016
Disclaimer:

HMSP HM Sampoerna Tbk.
Industry Sub Sector : Tobacco Manufacturers (52) Market Capitalization : 481,556,838,366,000
6T | 9.83% | 9.83%
9 | 31.5T | 2.30% | 37.23%

Established Date : 27-Mar-1905 1. PT Philip Morris Indonesia 4,303,768,845 : 92.50%
Listing Date : 15-Aug-1990 2. Public (<5%) 348,954,231 : 7.50%
Under Writer IPO :
PT Inter- Pacific DIVIDEND ANNOUNCEMENT
PT Multicorp Bonus Cash Recording Payment
F/I
PT Jardine Fleming Nusantara Finance Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1990 50.00 01-Aug-91 02-Aug-91 09-Aug-91 09-Sep-91 F
PT Sirca Datapro Perdana 1991 70.00 30-Jul-92 31-Jul-92 08-Aug-92 08-Sep-92 F
Jln. Johar No. 18 1992 100.00 25-May-93 26-May-93 03-Jun-93 28-Jun-93 I
Menteng, Jakarta 10340 1993 400.00 From 24-Dec-93 Until 18-Aug-94 F
Phone : (021) 314-0032, 390-5920, 390-0645 1993 2:3 01-Sep-94 02-Sep-94 09-Sep-94 27-Oct-94 B
Fax : (021) 314-0185, 390-0652, 390-0671 1994 200.00 01-Aug-95 02-Aug-95 11-Aug-95 09-Sep-95 F
1995 275.00 26-Jul-96 29-Jul-96 06-Aug-96 27-Aug-96 F
BOARD OF COMMISSIONERS 1996 150.00 25-Jul-97 28-Jul-97 05-Aug-97 27-Aug-97 F
1. John Gledhill 1999 500.00 From 16-May-00 Until 25-Aug-00 F
2. Charles Herve Bendoti 2000 350.00 26-Jul-01 27-Jul-01 03-Aug-01 22-Aug-01 F
3. Goh Kok Ho *) 2001 25.00 08-Aug-02 09-Aug-02 14-Aug-02 27-Aug-02 F
4. Niken Kristiawan Rachmad 2002 190.00 From 08-Apr-03 Until 07-Aug-03 F
5. RB. Permana Agung Dradjattun *) 2003 495.00 From 19-May-04 Until 09-Dec-04 F
*) Independent Commissioners 2004 175.00 23-Nov-04 24-Nov-04 26-Nov-04 09-Dec-04 F
2005 1,065.00 From 22-Jul-05 Until 04-Oct-06 F
BOARD OF DIRECTORS 2006 755.00 From 24-Nov-06 Until 17-Mar-08 F
1. Paul Norman Janelle 2007 540.00 From 03-Sep-07 Until 25-Mar-09 F
2. Andre Dahan 2008 110.00 02-Dec-09 03-Dec-09 07-Dec-09 22-Dec-09 F
3. Michael Sandritter 2009 765.00 From 09-Feb-10 Until 29-Sep-10 F
4. Troy J. Modlin 2010 1,640.00 From 13-Jun-11 Until 23-Dec-11 F
5. Peter Alfred Kurt Haase 2011 1,750.00 From 07-Dec-11 Until 27-Dec-12 F
6. Wayan Mertasana Tantra 2012 1,300.00 10-Jun-13 11-Jun-13 13-Jun-13 27-Jun-13 F
7. Yos Adiguna Ginting 2013 3,399.00 From 03-Dec-13 Until 23-Dec-14 F
2014 2,008.00 From 06-May-15 Until 09-Sep-15 F
AUDIT COMMITTEE
1. Goh Kok Ho ISSUED HISTORY
2. Hanafi Usman Listing Trading
3. RB. Permana Agung Dradjattun No. Type of Listing Shares Date Date
1. First Issue 27,000,000 15-Aug-90 15-Aug-90
CORPORATE SECRETARY 2. Partial Listing 18,000,000 T: 15-Aug-90 : 15-Feb-91
Ike Andriani 3. Company Listing 135,000,000 15-Jun-92 15-Jun-92
4. Bonus Shares 270,000,000 28-Sep-94 28-Sep-94
HEAD OFFICE 5. Stock Split 4,162,000,000 T: 18-Nov-96 : 24-Sep-01
One Pacific Place 18th Fl., SCBD 6. Additional Listing 28,000,000 18-Jun-99 18-Jun-99
Jln. Jend. Sudirman Kav. 52-53 7. Buy Back -257,000,000 T: 17-Oct-01 : 27-Sep-04
Jakarta 12190 8. Right Issue 269,340,247 T: 27-Oct-15 : 03-Nov-15
Phone : (021) 515-1234
Fax : (021) 515-2234
Homepage : www.sampoerna.co.id
Email : Ike.Andriani@sampoerna.com

TRADING ACTIVITIES
HM Sampoerna Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
120,000 320 Jan-12 44,000 38,600 42,500 320 314 13,006 21
Feb-12 54,200 42,600 53,000 418 613 30,649 21
105,000 280 Mar-12 54,000 52,000 53,200 199 343 18,136 20
Apr-12 54,700 53,000 54,200 206 181 9,743 20
May-12 55,900 52,500 52,800 432 624 33,607 21
90,000 240
Jun-12 52,750 46,950 51,700 610 905 44,705 19
Jul-12 52,100 49,050 52,000 269 274 13,729 22
75,000 200
Aug-12 53,250 50,500 52,000 173 662 34,378 19
Sep-12 52,950 51,750 52,600 130 114 5,966 19
60,000 160
Oct-12 54,200 51,900 54,000 194 294 15,600 21
Nov-12 57,800 54,000 57,800 123 392 21,761 19
45,000 120 Dec-12 60,000 56,700 59,900 190 191 11,053 17
30,000 80 Jan-13 63,500 59,100 63,300 96 186 11,678 18

Feb-13 74,900 63,250 74,900 178 486 33,411 20
15,000 40 Mar-13 84,500 74,900 84,500 232 236 18,861 19
Apr-13 85,100 82,350 84,300 145 636 51,331 21
May-13 88,000 84,500 87,500 132 209 17,941 19
Jun-13 87,500 79,500 85,000 156 116 9,564 16
Jul-13 85,000 80,000 82,000 53 42 3,458 12
Aug-13 81,000 59,500 65,500 551 558 40,238 17
Sep-13 70,000 64,000 65,400 165 115 7,657 19
Closing Price*, Jakarta Composite Index (IHSG) and Oct-13 68,400 64,000 66,900 142 126 8,216 21
Consumer Goods Industry Index Nov-13 68,100 64,000 65,000 123 134 8,761 18
January 2012 - January 2016 Dec-13 66,000 59,750 62,400 285 249 15,132 19
175%
161.9% Jan-14 68,000 60,000 67,050 484 327 20,297 20
150% Feb-14 71,500 66,500 68,500 412 138 9,572 20
Mar-14 69,900 68,025 69,000 227 80 5,590 20
125% Apr-14 70,300 68,000 69,900 254 176 12,199 18
May-14 74,000 68,000 68,900 238 63 4,317 18
100% Jun-14 69,000 66,000 67,300 343 276 18,618 21
Jul-14 71,600 67,100 69,700 254 188 13,058 17
Aug-14 70,650 67,000 70,650 210 173 12,026 18
75%
Sep-14 72,500 70,000 72,000 116 74 5,352 21
61.6%
Oct-14 72,100 70,000 71,100 146 85 6,047 21
50%
Nov-14 71,500 69,250 69,850 253 246 17,359 20
Dec-14 70,000 67,375 68,650 418 272 19,365 19
25%
18.1%
Jan-15 68,650 66,250 67,200 294 99 6,683 21
- Feb-15 66,900 64,900 65,200 269 1,889 121,465 19
Mar-15 73,850 64,900 73,475 562 440 29,284 21
-25% Apr-15 75,375 71,750 73,500 273 99 7,369 19
Jan 12 Jan 13 Jan 14 Jan 15 Jan 16 May-15 73,750 71,000 72,500 156 203 7,970 17
Jun-15 72,500 70,500 72,000 149 64 4,562 16
Jul-15 90,050 70,500 83,450 1,318 584 47,679 19
SHARES TRADED 2012 2013 2014 2015 Jan-16 Aug-15 84,850 71,000 76,000 633 291 22,329 20
Volume (Million Sh.) 5 3 2 357 25 Sep-15 77,250 74,250 75,975 588 288 21,750 21
Value (Billion Rp) 252 226 144 29,089 2,431 Oct-15 99,000 76,000 91,975 37,998 287,642 22,430,794 21
Days 239 219 233 234 20 Dec-15 102,000 91,025 94,000 21,935 11,202 1,078,449 19
Price (Rupiah) Jan-16 109,800 89,000 103,500 36,158 24,636 2,430,871 20

High 60,000 88,000 74,000 102,000 109,800
Low 38,600 59,100 60,000 64,900 89,000
Close 59,900 62,400 68,650 94,000 103,500
Close* 59,466 61,948 68,153 94,000 103,500
PER (X) 26.78 25.28 29.48 43.18 47.54

PER Industry (X) 19.75 15.98 24.22 17.69 17.48
PBV (X) 19.73 19.32 27.35 50.29 55.37

Cash & Cash Equivalents 2,070,123 783,505 657,276 65,086 1,718,738 38,750
Receivables 1,092,906 1,372,754 1,449,427 1,097,937 4,726,827

8,913,348 15,669,906 17,332,558 17,431,586 19,071,523 31,000
Inventories
Current Assets 14,851,460 21,128,313 21,247,830 20,777,514 29,807,330
23,250
Fixed Assets 3,850,665 4,115,078 4,708,669 5,919,600 6,281,176
Other Assets 323,862 468,924 574,203 804,448 844,896
15,500
Total Assets 19,376,343 26,247,527 27,404,594 28,380,630 38,010,724
Growth (%) 35.46% 4.41% 3.56% 33.93% 7,750

Long Term Liabilities 684,657 1,041,130 1,125,769 1,282,286 1,455,990 2011 2012 2013 2014 2015
Growth (%) 41.03% 2.40% 12.32% -59.72%
Paid up Capital 438,300 438,300 438,300 438,300 465,272 32,016

Par Value 100 100 100 100 100
25,485

18,954
Total Equity 10,201,789 13,308,420 14,155,035 13,498,114 32,016,060 13,308 14,155 13,498
Growth (%) 30.45% 6.36% -4.64% 137.19% 12,422 10,202
Total Revenues 52,856,708 66,626,123 75,025,207 80,690,139 89,069,306

Growth (%) 26.05% 12.61% 7.55% 10.38%
-640
2011 2012 2013 2014 2015
Cost of Revenues 37,661,205 48,118,835 54,953,870 60,190,077 67,304,917

Gross Profit 15,195,503 18,507,288 20,071,337 20,500,062 21,764,389
Expenses (Income) 4,578,116 5,124,031 5,561,627 6,781,763 7,831,745
Operating Profit 10,617,387 - - - - 89,069
89,069
80,690
Growth (%) 75,025
70,899
66,626
Other Income (Expenses) 293,695 - - - - 52,857
Tax 2,846,656 3,437,961 3,691,224 3,537,216 3,569,336

Growth (%) 23.32% 8.78% -5.89% 1.79%

16,389
Period Attributable - 9,945,296 10,818,486 10,181,083 10,363,308 -1,781
Comprehensive Attributable - - 10,807,957 10,014,995 10,355,007
Current Ratio (%) 174.93 177.58 175.26 152.77 656.74
10,818
10,181 10,363
Dividend (Rp) 1,750.00 1,300.00 3,399.00 2,008.00 - 10,818
9,945
EPS (Rp) - 2,269.06 2,468.28 2,322.86 2,227.36
8,064
BV (Rp) 2,327.58 3,036.37 3,229.53 3,079.65 6,881.14 8,612
DAR (X) 0.47 0.49 0.48 0.52 0.16

0.90 0.97 0.94 1.10 0.19
6,405
DER(X)
ROA (%) 41.62 37.89 39.48 35.87 27.26 4,198
ROE (%) 79.05 74.73 76.43 75.43 32.37

GPM (%) 28.75 27.78 26.75 25.41 24.44 1,991
OPM (%) 20.09 - - - -

NPM (%) 15.26 14.93 14.42 12.62 11.64
-216
2011 2012 2013 2014 2015

Payout Ratio (%) 57.29 137.71 86.45 -
Yield (%) 4.49 2.17 5.45 2.92 -

COMPANY REPORT
ICBP
INDOFOOD CBP SUKSES MAKMUR TBK.
Company Profile
PT Indofood CBP Sukses Makmur Tbk. was established on September 2nd, 2009.

The Company was the result of the spin‐off of the Noodle Division and Food Ingredients
Division of PT Indofood Sukses Makmur Tbk., the controlling shareholder of the Company,
and started to carry out the related business operations on October 1st, 2009.

The scope of its activities comprises, among others, the manufacture of noodles and food
ingredients, culinary food products, biscuits, snacks, nutrition and special foods, packaging,
trading, transportation, warehousing and cold storage, management services, and research
and development.

The Company’s head office is located in Jakarta, while the Company and its Subsidiaries’
factories are located in various locations in Java, Sicumatera, Kalimantan, Sulawesi Islands
and Malaysia.

PT Indofood Sukses Makmur, Indonesia, and First Pacific Company Limited, Hong Kong, are
the parent entity and the ultimate parent entity, respectively, of the Company.

The Company is an established market‐leading producer of packaged food products with a
diverse range of products providing everyday food solutions for consumers of all ages.
Many of its products brands are among the strongest brands with significant Top‐of‐Mind
status in Indonesia and have gained the trust and loyalty of millions of consumers in
Indonesia for decades.

The Company has direct share ownerships in Drayton Pte. Ltd., Indofood (M) Food
Industries Sdn. Bhd., PT Surya Rengo Containers, PT Indofood Fritolay Makmur, PT
Indofood Asahi Sukses Beverage, PT Indofood Tsukishima Sukses Makmur, PT Indofood
Mitra Bahari Makmur, PT Indofood Comsa Sukses Makmur, PT Indo Oji Sukses Pratama.

The long‐term investment in the associated entity are PT Nestle Indofood Citarasa
Indonesia, PT Asahi Indofood Beverage Makmur and PT Prima Cahaya Indobeverages. As
of September 30th, 2015, the Group had 30,948 employees.
February 2016
Disclaimer:

ICBP Indofood CBP Sukses Makmur Tbk. [S]
Industry Sub Sector : Food And Beverages (51) Market Capitalization : 84,257,285,300,000
10 | 84.3T | 1.72% | 50.26%
41 | 9.40T | 0.69% | 73.44%

Established Date : 02-Sep-2009 1. PT Indofood Sukses Makmur 4,664,763,000 : 80.00%
Under Writer IPO :
PT Kim Eng Securities DIVIDEND ANNOUNCEMENT
PT Credit Suisse Securities Indonesia Bonus Cash Recording Payment
F/I
PT Deutsche Securities Indonesia Year Shares Dividend Cum Date Ex Date Date Date
PT Mandiri Sekuritas 2010 116.00 21-Jun-11 22-Jun-11 24-Jun-11 07-Jul-11 F
Securities Administration Bureau : 2011 169.00 13-Jul-12 16-Jul-12 18-Jul-12 31-Jul-12 F
PT Raya Saham Registra 2013 190.00 10-Jul-14 11-Jul-14 15-Jul-14 05-Aug-14 F
Plaza Central Building 2nd Fl. 2014 222.00 18-May-15 19-May-15 21-May-15 09-Jun-15 F
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930
Phone : (021) 252-5666 ISSUED HISTORY
Fax : (021) 252-5028 Listing Trading
BOARD OF COMMISSIONERS 1. First Issue 1,166,191,000 07-Oct-10 07-Oct-10
1. Franciscus Welirang 2. Company Listing 4,664,763,000 07-Oct-10 07-Apr-11
2. Alamsyah
3. Florentinus Gregorius Winarno
4. Hans Kartikahadi *)
5. Moleonoto (Paulus Moleonoto)
6. Wahjudi Prakarsa *) (Passed away on 10 Feb 2016)
BOARD OF DIRECTORS
1. Anthoni Salim
2. Axton Salim
3. Darmawan Sarsito (Kevin Sietho)
4. Hendra Widjaja
5. Suaimi Suriady
6. Sulianto Pratama
7. Taufik Wiraatmadja
8. Tjhie Tje Fie (Thomas Tjhie)
9. Werianty Setiawan
AUDIT COMMITTEE
1. Hans Kartikahadi
2. Hendra Susanto
3. Wahjudi Prakarsa
CORPORATE SECRETARY
Gideon Ariprastomo Putro
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 : gideon.putro@icbp.indofood.co.id

TRADING ACTIVITIES
Indofood CBP Sukses Makmur Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
16,000 64.0 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
14,000 56.0 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
12,000 48.0
Jun-12 5,850 5,400 5,750 3,477 49,711 282,356 21
Jul-12 6,850 5,700 6,600 8,760 144,591 897,445 22
10,000 40.0
Aug-12 6,850 6,400 6,550 5,188 58,263 385,634 19
Sep-12 6,650 6,150 6,350 7,021 67,678 431,645 20
8,000 32.0
Oct-12 7,750 6,300 7,150 9,940 111,373 787,349 22
Nov-12 7,550 6,900 7,400 5,982 74,371 536,371 20
6,000 24.0 Dec-12 8,300 7,300 7,800 6,712 68,335 532,860 18
4,000 16.0 Jan-13 8,700 7,600 8,000 8,421 69,143 552,825 21

Feb-13 8,650 7,900 8,500 7,470 78,410 638,909 20
2,000 8.0 Mar-13 9,900 8,200 9,600 13,589 108,935 974,749 19
Apr-13 11,700 9,500 11,450 23,016 106,833 1,118,431 22
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
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
Consumer Goods Industry Index Nov-13 11,300 9,750 10,000 19,144 71,526 740,344 20
210%
Jan-14 11,700 9,900 11,000 31,608 68,488 734,990 20
180% Feb-14 11,350 10,450 11,175 33,839 78,008 852,458 20
172.6%
Mar-14 11,300 9,950 10,100 40,130 124,778 1,318,297 20
150% Apr-14 10,275 9,800 10,000 31,126 113,027 1,131,541 20
May-14 10,400 9,925 10,200 22,065 55,236 557,582 18
120% Jun-14 10,275 9,875 10,000 21,362 46,268 465,777 21
Jul-14 10,575 9,950 10,450 21,883 78,643 812,824 18
Aug-14 10,650 10,100 10,500 27,066 74,737 781,831 20
90%
Sep-14 11,400 10,500 11,350 25,934 57,043 629,638 22
Oct-14 11,575 10,500 11,050 33,698 77,025 858,355 23
60% 61.6%
Nov-14 11,450 10,800 11,250 18,187 56,536 624,570 20
Dec-14 13,400 11,150 13,100 24,568 69,230 825,565 20
30%
18.1%
Jan-15 16,050 12,450 14,500 33,591 90,954 1,243,010 21
- Feb-15 14,650 13,900 14,300 28,064 53,007 751,753 19
Mar-15 15,500 14,025 14,675 38,018 88,680 1,289,971 22
-30% Apr-15 14,700 12,300 13,200 31,277 95,059 1,306,487 21
Jun-15 14,200 12,050 12,475 31,709 37,052 483,342 21
Jul-15 13,050 11,800 12,300 33,854 44,360 545,752 19
Volume (Million Sh.) 990 1,082 899 735 60 Sep-15 13,175 10,900 12,400 28,987 42,367 523,143 21
Days 246 244 242 244 20 Dec-15 13,600 11,325 13,475 26,651 37,590 470,086 19
Price (Rupiah) Jan-16 14,900 12,850 14,450 37,740 60,286 851,215 20

High 8,300 13,400 13,400 16,050 14,900
Low 4,975 7,600 9,800 10,900 12,850
Close 7,800 10,200 13,100 13,475 14,450
Close* 7,800 10,200 13,100 13,475 14,450
PER (X) 19.88 26.73 27.67 26.18 28.08

PER Industry (X) 19.75 15.98 24.22 17.69 17.48
PBV (X) 3.79 4.48 5.26 4.79 5.14

Receivables 2,378,402 2,328,181 2,549,415 2,902,202 3,363,697

1,629,883 1,812,887 2,868,722 2,821,618 2,546,835 21,400
Inventories
Current Assets 8,580,311 9,888,440 11,321,715 13,603,527 13,961,500
16,050
Fixed Assets 2,590,036 3,839,756 4,844,407 5,838,843 6,555,660
Other Assets 169,718 - 888,529 213,907 222,280
10,700
Total Assets 15,222,857 17,753,480 21,267,470 24,910,211 26,560,624
Growth (%) 16.62% 19.79% 17.13% 6.63% 5,350

Growth (%) 27.78% 38.76% 23.35% 3.07%
Paid up Capital 583,095 583,095 583,095 583,095 583,095 15,676
15,040
11,987
Par Value 100 100 100 100 100 12,478
10,710
Total Equity 10,709,773 11,986,798 13,265,731 15,039,947 16,386,911
9,280
Growth (%) 11.92% 10.67% 13.37% 8.96% 6,082
Total Revenues 19,367,155 21,574,792 25,094,681 30,022,463 31,741,094

Growth (%) 11.40% 16.31% 19.64% 5.72%
-314
2011 2012 2013 2014 Dec-15
Cost of Revenues 14,335,896 15,796,183 18,668,990 21,962,609 22,121,957

Gross Profit 5,031,259 5,778,609 6,425,691 8,059,854 9,619,137
Expenses (Income) 2,423,258 2,936,549 3,653,767 4,931,161 5,627,005
Operating Profit 2,608,001 2,842,060 2,771,924 3,128,693 3,992,132 31,741
30,022
Growth (%) 8.97% -2.47% 12.87% 27.60% 30,022
25,095
21,575
Other Income (Expenses) 136,909 185,130 195,066 260,032 17,502
23,898
19,367
Tax 678,545 744,819 733,699 857,044 1,086,486

Growth (%) 10.45% -2.07% 13.27% 15.46%

5,524
Current Ratio (%) 287.11 276.25 241.06 218.32 232.60
2,923
Dividend (Rp) 169.00 - 190.00 222.00 -
2,532
EPS (Rp) 338.77 373.80 381.63 446.62 514.62 2,282 2,235
2,532
BV (Rp) 1,836.71 2,055.72 2,275.05 2,579.33 2,810.33 2,066
DAR (X) 0.30 0.32 0.38 0.40 0.38

2,015
DER(X) 0.42 0.48 0.60 0.66 0.62 1,499
ROA (%) 13.57 12.86 10.51 10.16 11.01

ROE (%) 19.29 19.04 16.85 16.83 17.84
982
GPM (%) 25.98 26.78 25.61 26.85 30.30 466
OPM (%) 13.47 13.17 11.05 10.42 12.58

NPM (%) 10.67 10.58 8.91 8.43 9.21
-51
2011 2012 2013 2014 Dec-15

Payout Ratio (%) 49.89 - 49.79 49.71 -
Yield (%) 3.25 - 1.86 1.69 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
INCO
VALE INDONESIA TBK.
Company Profile
PT Vale Indonesia Tbk. (formerly International Nickel Indonesia Tbk.) was established on
July 25th, 1968.

The Company’s immediate parent company is Vale Canada Limited and e ultimate parent
entity is Vale S.A., a company established under the laws of the Federal Republic of Brazil.
The Company’s plant is located in Sorowako, South Sulawesi and the registered office is
located in Jakarta.

The Company’s main activities are exploration and mining, processing, storage,
transportation and marketing of nickel and associated mineral products. The Company
started its commercial operations in 1978.

PT Vale Indonesia Tbk. is one of the world’s premier producers of nickel. A versatile metal,
which is important in improving living standards and fostering economic growth. For more
than three decades, since the signing of its Contract of Work with the Indonesian
Government in 1968, the Company has provided skilled jobs, shown concern for the needs
of the communities in which it operates, benefited shareholders and contributed positively
to the Indonesian economy.

The total number of employees at December 31st, 2015 was 3,107.

February 2016
Disclaimer:

INCO Vale Indonesia Tbk. [S]
Industry Sub Sector : Metal And Mineral Mining (23) Market Capitalization : 14,358,009,450,400
53 | 14.4T | 0.29% | 77.99%
54 | 6.50T | 0.47% | 80.82%

Established Date : 25-Jul-1968 1. Vale Canada Limited 5,835,607,960 : 58.73%
Listing Date : 16-May-1990 2. Sumitomo Metal Mining Co. Ltd. 1,996,281,680 : 20.09%
PT Danareksa Sekuritas
PT Vale Indonesia Tbk. Bonus Cash Recording Payment
F/I
Plaza Bapindo - Citibank Tower 22nd Fl. Year Shares Dividend Cum Date Ex Date Date Date
Jln. Jend. Sudirman Kav. 54 - 55, Jakarta 12190 1990 USD 0.35 17-Sep-90 18-Sep-90 25-Sep-90 25-Oct-90 I
Phone : (021) 524-9000 1991 USD 0.15 20-Mar-91 21-Mar-91 28-Mar-91 30-Apr-91
Fax : (021) 524-9030 1991 USD 0.15 19-Sep-91 20-Sep-91 30-Sep-91 30-Oct-91 I
1991 USD 0.15 19-Mar-92 20-Mar-92 27-Mar-92 30-Apr-92 I
BOARD OF COMMISSIONERS 1992 USD 0.05 15-Apr-93 16-Apr-93 23-Apr-93 21-May-93 F
1. Jennifer Anne Maki 1993 USD 0,05 25-Apr-94 26-Apr-94 03-May-94 01-Jun-94 F
2. Akira Nozaki 1994 USD 0,05 28-Oct-94 31-Oct-94 07-Nov-94 07-Dec-94 I
3. Andrea Marques De Almeida 1994 USD 0,05 24-Apr-95 25-Apr-95 02-May-95 02-Jun-95 F
4. Arief T. Surowidjojo *) 1995 USD 0,05 03-Nov-95 04-Nov-95 14-Nov-95 13-Dec-95 I
5. Idrus Paturusi *) 1995 USD 0,05 26-Apr-96 29-Apr-96 07-May-96 05-Jun-96 F
6. Irwandy Arif *) 1996 USD 0.05 04-Nov-96 05-Nov-96 13-Nov-96 12-Dec-96 I
7. Mark James Travers 1996 121.60 25-Apr-97 28-Apr-97 06-May-97 04-Jun-97 F
8. Nobuhiro Matsumoto 1997 174.15 10-Nov-97 11-Nov-97 19-Nov-97 18-Dec-97 I
9. Robert Morris 2002 84.65 29-Apr-03 30-Apr-03 02-May-03 19-May-03 F
10. Stuart Alan Harshaw 2002 10.61 13-Nov-03 14-Nov-03 18-Nov-03 05-Dec-03 F
*) Independent Commissioners 2003 USD 0,15 23-Apr-04 26-Apr-04 28-Apr-04 13-May-04 F
2004 USD 0.0125 04-Nov-04 05-Nov-04 09-Nov-04 25-Nov-04 F
BOARD OF DIRECTORS 2004 USD 0.0975 19-Apr-05 20-Apr-05 25-Apr-05 10-May-05 F
1. Nicolaas D. Kanter 2005 USD 0.025 22-Nov-05 23-Nov-05 25-Nov-05 08-Dec-05 F
2. Bernardus Irmanto 2005 745.88 25-Apr-06 26-Apr-06 28-Apr-06 12-May-06 F
3. Febriany Eddy 2006 USD 0.025 17-Nov-06 20-Nov-06 22-Nov-06 05-Dec-06 F
4. Josimar Souza Pires 2006 454.50 24-Apr-07 27-Apr-07 27-Apr-07 11-May-07 F
2007 USD 0,9787 20-Nov-07 21-Nov-07 23-Nov-07 07-Dec-07 I
AUDIT COMMITTEE 2007 USD 0.02264 16-Apr-08 17-Apr-08 21-Apr-08 06-May-08 F
1. Irwandy Arif 2009 USD 0,01107 09-Dec-09 10-Dec-09 14-Dec-09 29-Dec-09 I
2. Dedi Rudaedi 2010 178.44 05-Oct-10 06-Oct-10 08-Oct-10 22-Oct-10 I
3. Sidharta Utama 2010 125.06 02-May-11 03-May-11 05-May-11 20-May-11 F
2011 89.68 02-Nov-11 03-Nov-11 07-Nov-11 21-Nov-11 I
CORPORATE SECRETARY 2011 79.70 14-May-12 15-May-12 21-May-12 01-Jun-12 F
Ratih Amri 2012 24.31 06-Dec-12 07-Dec-12 11-Dec-12 27-Dec-12 I
2012 24.70 14-May-13 15-May-13 17-May-13 31-May-13 F
HEAD OFFICE 2013 30.14 29-Nov-13 02-Dec-13 04-Dec-13 18-Dec-13 I
Bapindo Plaza II, 22th Fl. 2014 123.81 28-Nov-14 01-Dec-14 03-Dec-14 17-Dec-14 I
Jln. Jend Sudirman Kav. 54 - 55
Jakarta 12190 ISSUED HISTORY
Phone : (021) 524-9000, 524-9002 Listing Trading
Fax : (021) 524-9020 No. Type of Listing Shares Date Date
1. First Issue 49,681,694 16-May-90 16-May-90
Homepage : www.vale.com/indonesia 2. Company Listing 198,726,774 31-Jan-01 31-Jan-01
Email : ratih.amri@valeinco.com 3. Stock Split 745,225,404 03-Aug-04 03-Aug-04
pti_corsec@valeinco.com 4. Stock Split 8,942,704,848 15-Jan-08 15-Jan-08

TRADING ACTIVITIES
Vale Indonesia Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
4,600 160 Jan-12 4,050 3,150 4,000 16,222 136,649 488,753 21
Feb-12 4,050 3,425 3,625 21,630 244,576 896,760 21
4,025 140 Mar-12 3,625 3,300 3,375 16,820 176,733 606,434 21
Apr-12 3,375 3,025 3,100 17,770 235,208 752,854 20
May-12 3,125 2,250 2,500 21,967 224,183 596,323 21
3,450 120
Jun-12 2,675 2,200 2,675 21,761 238,700 579,306 21
Jul-12 2,900 2,400 2,425 13,954 127,868 345,078 22
2,875 100
Aug-12 2,475 2,250 2,300 10,714 94,081 223,583 19
Sep-12 3,100 2,250 2,950 18,317 251,490 686,458 20
2,300 80
Oct-12 2,950 2,500 2,700 12,939 134,995 360,581 22
Nov-12 2,750 2,025 2,075 19,826 282,528 645,022 20
1,725 60 Dec-12 2,475 2,100 2,350 14,110 265,884 605,288 18
1,150 40 Jan-13 2,900 2,350 2,750 16,519 264,254 707,204 21

Feb-13 3,075 2,600 2,700 15,878 189,153 535,185 20
575 20 Mar-13 2,850 2,350 2,375 18,082 156,260 416,753 19
Apr-13 2,850 2,375 2,850 11,715 243,235 608,803 22
May-13 2,850 2,450 2,550 9,351 115,097 304,185 22
Jun-13 2,575 1,920 2,025 14,312 129,454 294,878 19
Jul-13 2,175 1,770 1,770 26,994 275,925 550,652 23
Aug-13 2,525 1,770 2,300 22,109 259,951 543,386 17
Sep-13 2,725 2,200 2,250 17,867 239,312 586,568 21
Mining Index Nov-13 2,650 2,300 2,400 9,622 97,518 241,610 20
45%
Jan-14 2,800 2,115 2,305 28,319 285,267 707,505 20
30% Feb-14 2,650 2,230 2,390 26,254 267,495 658,048 20
Mar-14 2,850 2,390 2,820 42,732 554,968 1,485,366 20
18.1% Apr-14 3,745 2,815 3,550 44,937 476,712 1,599,051 20
15%
May-14 4,240 3,430 3,915 57,730 454,246 1,775,539 18
- Jun-14 3,965 3,525 3,555 27,874 191,590 711,230 21
Jul-14 4,025 3,525 4,025 40,957 310,152 1,162,055 18
Aug-14 4,185 3,785 4,180 51,392 260,878 1,044,808 20
-15%
Sep-14 4,575 3,710 3,750 64,604 295,695 1,224,296 22
Oct-14 3,825 3,455 3,790 63,431 220,286 807,541 23
-30%
Nov-14 4,175 3,625 3,985 53,963 201,141 778,894 20
Dec-14 4,145 3,525 3,625 48,022 201,988 828,546 20
-45%
Jan-15 3,695 3,285 3,450 49,254 157,356 555,099 21

-60% -57.5%
Feb-15 3,675 3,350 3,525 42,735 153,140 534,741 19
Mar-15 3,565 3,230 3,235 41,098 178,101 602,947 22
-69.9%
-75% Apr-15 3,275 2,605 2,795 35,215 225,188 677,054 21
Jun-15 3,280 2,675 2,710 37,285 208,810 597,379 21
Jul-15 2,745 1,960 1,960 25,380 92,103 224,276 19
Days 246 244 242 244 20 Dec-15 1,695 1,340 1,635 34,124 196,891 319,271 19
Price (Rupiah) Jan-16 1,635 1,370 1,445 25,378 134,782 196,679 20

High 4,050 3,075 4,575 3,695 1,635
Low 2,025 1,770 2,115 1,190 1,370
Close 2,350 2,650 3,625 1,635 1,445
Close* 2,350 2,650 3,625 1,635 1,445
PER (X) 38.48 55.52 16.97 16.03 14.17

PER Industry (X) 8.49 20.76 3.23 5.06 5.67
PBV (X) 1.40 1.25 1.60 0.60 0.53

Receivables 1,776,340 2,098,980 808,618 1,152,892 1,146,177

1,480,541 1,478,050 1,852,721 1,732,173 1,525,295 27,000
Inventories
Current Assets 7,077,773 5,462,486 6,840,464 7,728,153 8,793,628
20,250
Fixed Assets 14,321,555 15,709,602 20,267,120 20,003,592 23,499,597
Other Assets 142,431 - 164,602 197,135 191,728
13,500
Total Assets 21,956,911 22,560,884 27,989,330 29,027,987 33,552,233
Growth (%) 2.75% 24.06% 3.71% 15.59% 6,750

Growth (%) 0.01% 17.59% -1.87% -2.25%
Paid up Capital 248,408 248,408 248,408 248,408 248,408 26,880

21,034
Par Value 25 25 25 25 25
21,397
16,043 16,646
15,913
Total Equity 16,042,824 16,646,267 21,034,044 22,202,650 26,880,308

Growth (%) 3.76% 26.36% 5.56% 21.07% 10,430
Total Revenues 11,267,489 9,354,052 11,308,498 12,909,588 11,575,292

Growth (%) -16.98% 20.89% 14.16% -10.34%
-538
2011 2012 2013 2014 2015
Cost of Revenues 6,594,195 7,742,015 9,591,999 9,095,939 9,840,549

Gross Profit 4,673,294 1,612,037 1,716,499 3,813,649 1,734,744
Expenses (Income) 522,779 578,237 855,918 711,551 565,833
Operating Profit 4,150,514 1,033,800 860,581 3,102,098 1,168,910 12,910
11,575
Growth (%) -75.09% -16.76% 260.47% -62.32% 11,267 11,308
12,910
10,276 9,354
Income before Tax 4,101,656 884,060 680,482 2,946,474 1,023,469 7,642
Tax 1,075,093 231,393 206,222 804,112 283,276

Profit for the period 3,026,563 652,667 474,260 2,142,362 740,193 5,009
Growth (%) -78.44% -27.34% 351.73% -65.45%

2,375
Period Attributable 3,026,563 652,667 474,260 2,142,362 740,193 -258
Comprehensive Income 3,026,563 652,667 526,530 2,128,372 712,389 2011 2012 2013 2014 2015
Comprehensive Attributable 3,026,563 652,667 526,530 2,128,372 712,389
Current Ratio (%) 436.49 340.98 330.07 298.21 404.02
3,027
Dividend (Rp) 169.38 49.01 30.14 123.81 - 3,027
EPS (Rp) 304.60 65.68 47.73 215.61 74.49

BV (Rp) 1,614.56 1,675.29 2,116.88 2,234.49 2,705.25 2,409
2,142
DAR (X) 0.27 0.26 0.25 0.24 0.20

0.37 0.36 0.33 0.31 0.25
1,792
DER(X)
ROA (%) 13.78 2.89 1.69 7.38 2.21 1,174
ROE (%) 18.87 3.92 2.25 9.65 2.75 653 740

474
GPM (%) 41.48 17.23 15.18 29.54 14.99 557
OPM (%) 36.84 11.05 7.61 24.03 10.10

NPM (%) 26.86 6.98 4.19 16.60 6.39
-61
2011 2012 2013 2014 2015

Payout Ratio (%) 55.61 74.62 63.15 57.42 -
Yield (%) 5.29 2.09 1.14 3.42 -

COMPANY REPORT
INDF
INDOFOOD SUKSES MAKMUR TBK.
Company Profile
PT Indofood Sukses Makmur Tbk. is a leading Total Food Solutions Company with
operation spanning from the production of raw materials and their processing, to
consumer products in the market. Indofood capitalizes on its resilient business model with
five complementary Strategic Business Groups, namely: Consumer Branded Products. Its
business activities are conducted by PT Indofood CBP Sukses Makmur Tbk., which was
listed on the Indonesia Stock Exchange from 7 October 2010.
ICBP is one of the leading consumer branded product producers in Indonesia, with a wide
range of consumer products. In 2013, ICBP started its non‐alcoholic beverage business, and
has current portfolio of ready‐to‐drink tea, packaged water, carbonated soft drinks and
fruit juice drinks.
Bogasari. The Group is primarily a producer of wheat flour and pasta, with business
operations supported by its own shipping and packaging units.
Agribusiness. The Group is led by Indofood Agri Resources Ltd., listed on the Singapore
Stock Exchange. Both of IndoAgri’s subsidiaries, PT Salim Ivomas Pratama Tbk. and PT PP
London Sumatra Indonesia Tbk., are listed on the IDX. The Group’s principal business
activities range from research and development, seed breeding, oil palm cultivation and
milling to the production and marketing of branded cooking oils, margarine and
shortening. In addition, the Group is also involved in the cultivation and processing of
rubber and sugar cane as well as other crops. In 2013, IndoAgri initiated expansion of its
global business through equity investment in the sugar business in Brazil and the
Philippines.
Distribution. With the most extensive distribution network in Indonesia, this Group
distributes the majority of Indofood’s and its subsidiaries’ consumer products as well as
other third‐party products.
Cultivation & Processed Vegetables. This Group activities are conducted by China
Minzhong Food Corporation Limited, which is listed on the SGX and is an integrated
vegetable processing company in the People's Republic of China.
February 2016
Disclaimer:

INDF Indofood Sukses Makmur Tbk. [S]
Industry Sub Sector : Food And Beverages (51) Market Capitalization : 54,438,644,300,000
17 | 54.4T | 1.11% | 59.10%
20 | 16.2T | 1.18% | 54.26%

Established Date : 14-Aug-1990 1. CAB Holdings Limited 4,396,103,450 : 50.07%
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
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1995 80.00 11-Jul-96 12-Jul-96 22-Jul-96 21-Aug-96 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 Velez Pangilinan 2003 28.00 15-Jul-04 16-Jul-04 20-Jul-04 02-Aug-04 F
2. Adi Pranoto Leman *) 2005 17.50 26-Aug-05 29-Aug-05 31-Aug-05 15-Sep-05
3. Bambang Subianto *) 2005 5.00 20-Jul-06 21-Jul-06 25-Jul-06 08-Aug-06 F
4. Benny Setiawan Santoso 2006 31.00 27-Jul-07 30-Jul-07 01-Aug-07 15-Aug-07 F
5. Edward Anthony Tortorici 2007 43.00 12-Aug-08 13-Aug-08 15-Aug-08 27-Aug-08 F
6. Graham Leigh Pickles 2008 47.00 02-Jul-09 03-Jul-09 07-Jul-09 22-Jul-09 F
7. Robert Charles Nicholson 2009 93.00 19-Jul-10 20-Jul-10 22-Jul-10 05-Aug-10 F
8. Utomo Josodirdjo *) 2010 133.00 26-Jul-11 27-Jul-11 29-Jul-11 09-Aug-11 F
*) Independent Commissioners 2011 175.00 17-Jul-12 18-Jul-12 20-Jul-12 03-Aug-12 F
2012 185.00 17-Jul-13 18-Jul-13 22-Jul-13 02-Aug-13 F
1. Anthoni Salim 2014 220.00 18-May-15 19-May-15 21-May-15 11-Jun-15 F
2. Axton Salim
3. Darmawan Sarsito (Kevin Sietho) ISSUED HISTORY
4. Franciscus Welirang Listing Trading
5. Joedianto Soejonopoetro No. Type of Listing Shares Date Date
6. Joseph Bataona 1. First Issue 21,000,000 14-Jul-94 14-Jul-94
7. Moleonoto (Paulus Moleonoto) 2. Founders Shares 742,000,000 T: 14-Jul-94 : 08-Feb-95
8. Taufik Wiraatmadja 3. Stock Split 8,087,800,000 T: 12-Aug-96 : 29-Sep-00
9. Tjhie Tje Fie (Thomas Tjhie) 4. Right Issue 305,200,000 24-Apr-97 24-Apr-97
10. Werianty Setiawan 5. Option Conversion 287,269,500 T: 07-May-02 : 12-Jun-03
6. Option III Conversion 919,500 T: 06-Feb-04 : 24-May-04
AUDIT COMMITTEE 7. Buy Back -663,762,500 28-Oct-08 28-Oct-08
1. Utomo Josodirdjo
2. Adi Pranoto Leman
3. Hendra Susanto
CORPORATE SECRETARY
Elly Putranti
HEAD OFFICE
Sudirman Plaza, Indofood Tower 27th Fl.
Jakarta 12190
Phone : (021) 5795-8822
Fax : (021) 5793-7373
Homepage : www.indofood.com
Email : elly.putranti@indofood.co.id

TRADING ACTIVITIES
Indofood Sukses Makmur Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
8,000 64.0 Jan-12 4,975 4,600 4,800 25,256 255,981 1,232,987 21
Feb-12 5,150 4,800 5,100 26,576 299,674 1,482,914 21
7,000 56.0 Mar-12 5,200 4,750 4,850 24,300 263,089 1,293,314 21
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
6,000 48.0
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
5,000 40.0
Aug-12 5,500 5,100 5,400 18,695 231,332 1,238,115 19
Sep-12 5,650 5,300 5,650 19,243 239,535 1,304,306 20
4,000 32.0
Oct-12 6,200 5,550 5,700 18,532 354,341 2,056,934 22
Nov-12 5,900 5,500 5,850 17,512 227,499 1,300,727 20
3,000 24.0 Dec-12 6,200 5,450 5,850 24,477 236,709 1,375,205 18
2,000 16.0 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
1,000 8.0 Mar-13 8,000 7,100 7,450 30,888 288,028 2,147,746 19
Apr-13 7,600 7,200 7,350 19,978 246,584 1,832,014 22
May-13 7,850 7,000 7,350 31,881 370,021 2,741,321 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
Aug-13 7,050 5,350 6,500 28,933 192,419 1,192,526 17
Sep-13 7,200 5,750 7,050 33,670 233,737 1,537,090 21
105%
Jan-14 7,350 6,550 6,975 39,285 194,431 1,339,609 20
90% Feb-14 7,175 6,825 7,175 35,519 171,841 1,205,017 20
Mar-14 7,800 6,900 7,300 44,656 280,916 2,058,174 20
75% Apr-14 7,475 6,900 7,050 41,446 221,397 1,587,966 20
May-14 7,150 6,700 6,825 41,676 277,765 1,926,273 18
60% 61.6% Jun-14 6,950 6,700 6,700 41,644 173,202 1,181,682 21
Jul-14 7,150 6,700 7,075 44,580 206,306 1,441,386 18
Aug-14 7,200 6,875 6,875 41,427 169,528 1,191,886 20
45%
Sep-14 7,125 6,825 7,000 41,539 220,047 1,542,026 22
Oct-14 7,025 6,375 6,825 55,424 188,136 1,271,028 23
30% 28.5% Nov-14 6,900 6,400 6,700 48,393 172,125 1,144,873 20
Dec-14 6,775 6,325 6,750 41,362 214,262 1,410,046 20
18.1%
15%
Jan-15 7,725 6,850 7,550 59,020 454,670 3,360,218 21

- Feb-15 7,675 7,250 7,400 38,795 183,393 1,357,302 19
Mar-15 7,550 7,300 7,450 54,233 329,852 2,445,636 22
-15% Apr-15 7,500 6,475 6,750 41,210 220,479 1,599,979 21
Jun-15 7,250 6,425 6,575 51,699 152,355 1,030,242 21
Jul-15 6,750 5,775 6,100 44,219 169,619 1,074,125 19
Days 246 244 242 244 20 Dec-15 5,300 4,840 5,175 51,839 174,809 889,022 19
Price (Rupiah) Jan-16 6,200 5,175 6,200 54,060 245,954 1,402,717 20

High 6,200 8,000 7,800 7,725 6,200
Low 4,400 5,350 6,325 4,560 5,175
Close 5,850 6,600 6,750 5,175 6,200
Close* 5,850 6,600 6,750 5,175 6,200
PER (X) 10.54 23.14 14.67 15.31 18.34

PER Industry (X) 19.75 15.98 24.22 17.69 17.48
PBV (X) 1.50 1.51 1.45 1.05 1.26

Receivables 3,669,305 3,485,461 4,959,416 4,339,670 5,116,610

6,536,343 7,782,594 8,160,539 8,454,845 7,627,360 80,000
Inventories
Current Assets 24,501,734 26,202,972 32,464,497 40,995,736 42,816,745
60,000
Fixed Assets 12,921,013 15,775,741 23,027,913 22,011,488 25,096,342
Other Assets 1,216,694 - 2,748,446 1,702,988 1,529,983
40,000
Total Assets 53,585,933 59,324,207 78,092,789 85,938,885 91,831,526
Growth (%) 10.71% 31.64% 10.05% 6.86% 20,000

Growth (%) 14.59% 57.73% 12.57% 8.95%
41,228
Paid up Capital 878,043 878,043 878,043 878,043 878,043 41,228 38,373
31,610
Par Value 100 100 100 100 100 32,818

Total Equity 31,610,225 34,142,674 38,373,129 41,228,376 43,121,593
24,407
Growth (%) 8.01% 12.39% 7.44% 4.59% 15,997
Total Revenues 45,332,256 50,059,427 57,731,998 63,594,452 64,061,947

Growth (%) 10.43% 15.33% 10.15% 0.74%
-825
2011 2012 2013 2014 Dec-15
Cost of Revenues 32,749,190 36,493,332 43,402,144 46,544,646 46,803,889

Gross Profit 12,583,066 13,566,095 14,329,854 17,049,806 17,258,058
Expenses (Income) 5,732,047 6,695,501 7,611,873 9,841,074 9,895,163
57,732
Growth (%) 0.29% -2.22% 7.31% 2.14%
63,594
50,059
50,621
45,332
Other Income (Expenses) -498,630 -560,838 -2,051,023 -979,435 -2,400,811
Tax 1,460,716 1,530,310 1,252,072 1,828,217 1,730,371

Growth (%) -2.29% -28.51% 50.63% -27.92%

11,701
Current Ratio (%) 190.95 200.32 166.73 180.74 170.53
5,146
Dividend (Rp) 175.00 185.00 142.00 220.00 - 5,146
4,892 4,779
EPS (Rp) 350.46 371.41 285.16 442.50 338.02
3,600.08 3,888.50 4,370.30 4,695.49 4,911.10 3,710
BV (Rp)
4,096
3,417
DAR (X) 0.41 0.42 0.51 0.52 0.53
0.70 0.74 1.04 1.08 1.13
3,047
DER(X)
ROA (%) 9.13 8.06 4.38 5.99 4.04 1,997
ROE (%) 15.47 14.00 8.90 12.48 8.60

GPM (%) 27.76 27.10 24.82 26.81 26.94 947
OPM (%) 15.11 13.72 11.64 11.34 11.49

NPM (%) 10.79 9.55 5.92 8.09 5.79
-103
2011 2012 2013 2014 Dec-15

Payout Ratio (%) 49.93 49.81 49.80 49.72 -
Yield (%) 3.80 3.16 2.15 3.26 -

CC O
OMM PP AA N
N YY RR EE PP O
O RR TT
INTP
INDOCEMENT TUNGGAL PRAKARSA TBK.
Company Profile
PT Indocement Tunggal Prakarsa Tbk. was incorporated on January 16th, 1985. The
Company started its commercial operations in 1985.

The scope of its activities comprises, among others, cement and building materials
manufacturing, mining, construction and trading. Currently, the Company and Subsidiaries
are involved in several businesses consisting of the manufacture and sale of cement (as
core business) and ready mix concrete, aggregates and trass quarrying.

The Company’s head office is located in Jakarta while the factories are located in Citeureup
‐ West Java, Palimanan ‐ West Java, and Tarjun ‐ South Kalimantan.

The cement business includes the operations of the Company’s twelve (12) plants located
in three different sites: nine at the Citeureup ‐ Bogor site, two at the Palimanan ‐ Cirebon
site and one at the Tarjun ‐ South Kalimantan site. The manufacture of ready‐mix concrete,
cement distribution, and aggregates quarrying comprise the operations of most of the
Company’s Subsidiaries.

The Company has direct ownership in subsidiaries:
 PT Dian Abadi Perkasa,  PT Lentera Abadi Sejahtera,
 PT Indomix Perkasa,  PT Gunung Tua Mandiri, and
 PT Sari Bhakti Sejati,
 PT Makmur Abadi Perkasa Mandiri,

The Company also has indirect ownership in subsidiaries:
 PT Pionirbeton Industri,  PT Sahabat Mulia Sakti,
 PT Mandiri Sejahtera Sentra,  PT Mineral Industri Sukabumi,
 PT Bahana Indonor,  PT Multi Bangun Galaxy, and
 PT Tarabatuh Manunggal,  PT Bhakti Sari Perkasa Abadi.
 PT Terang Prakasa Cipta,

As of December 31st, 2015, the Group had a total of 6,951 permanent employees.

February 2016
Disclaimer:

INTP Indocement Tunggal Prakarsa Tbk. [S]
Industry Sub Sector : Cement (31) Market Capitalization : 72,520,264,470,300
11 | 72.5T | 1.48% | 51.74%
15 | 20.1T | 1.47% | 47.54%

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
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1993 208.00 13-Jul-94 14-Jul-94 21-Jul-94 15-Aug-94 F
Phone : (021) 252-5666 1993 1:1 12-Aug-94 15-Aug-94 23-Aug-94 23-Sep-94 B
1995 40.00 23-Aug-95 24-Aug-95 01-Sep-95 29-Sep-95 I
1. Albert Scheuer 1996 70.00 11-Jul-97 14-Jul-97 23-Jul-97 21-Aug-97 F
2. Bernhard Scheifele 1996 10:3 08-Sep-97 09-Sep-97 17-Sep-97 30-Sep-97 B
3. Daniel Hugues Jules Gauthier 2005 50.00 19-Jul-06 20-Jul-06 24-Jul-06 07-Aug-06 F
4. Daniel Eugene Antoine Lavalle *) 2006 30.00 27-Jun-07 28-Jun-07 02-Jul-07 16-Jul-07 I
5. I Nyoman Tjager *) 2007 40.00 05-Jun-08 06-Jun-08 10-Jun-08 24-Jun-08 F
6. Lorenz Naeger 2008 150.00 02-Jun-09 03-Jun-09 05-Jun-09 19-Jun-09 F
7. Tedy Djuhar *) 2009 225.00 21-Jun-10 22-Jun-10 24-Jun-10 07-Jul-10 F
2011 293.00 18-Jun-12 19-Jun-12 21-Jun-12 05-Jul-12 F
BOARD OF DIRECTORS 2012 450.00 20-Jun-13 21-Jun-13 25-Jun-13 09-Jul-13 F
1. Christian Kartawijaya 2013 900.00 19-Jun-14 20-Jun-14 24-Jun-14 08-Jul-14 F
2. Benny Setiawan Santoso 2014 1,350.00 21-May-15 22-May-15 26-May-15 17-Jun-15 F
3. Daniel Robert Fritz
4. Fransiscus Welirang ISSUED HISTORY
5. Hasan Imer Listing Trading
6. Kuky Permana Kumalaputra No. Type of Listing Shares Date Date
7. Ramakanta Bhattacharjee 1. First Issue 89,832,150 05-Dec-89 05-Dec-89
8. Tju Lie Sukanto 2. Koperasi 6,000,000 T: 26-Jun-92 : 31-Dec-99
9. Troy Dartojo Soputro 3. Founders Shares 946,119 T: 07-Mar-94 : 02-Sep-94
4. Convertible Bonds 8,555,640 T: 07-Mar-94 : 10-Nov-94
AUDIT COMMITTEE 5. Bonus Shares 599,790,020 T: 12-Sep-94 : 26-Sep-94
1. I Nyoman Tjager 6. Company Listing 502,102,731 12-Sep-94 12-Sep-94
2. Jusuf Halim 7. Stock Split 1,207,226,660 02-Sep-96 02-Sep-96
3. Lindawati Gani 8. Additional Listing 69,863,127 09-Jan-01 09-Jan-01
9. Right Issue 1,196,907,072 24-Apr-01 24-Apr-01
CORPORATE SECRETARY 10. Warrant 8,180 12-May-03 12-May-03
Pigo Pramusakti Kusdihardjo
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

TRADING ACTIVITIES
Indocement Tunggal Prakarsa Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
28,000 80.0 Jan-12 19,050 16,600 16,950 22,398 87,292 1,556,604 21
Feb-12 17,900 16,300 17,450 23,502 88,498 1,514,992 21
24,500 70.0 Mar-12 18,800 17,000 18,450 18,385 72,028 1,307,071 21
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
21,000 60.0
Jun-12 17,600 15,800 17,350 16,882 71,934 1,226,581 21
Jul-12 22,000 17,400 21,500 18,249 87,400 1,660,463 22
17,500 50.0
Aug-12 21,500 19,200 20,250 17,525 52,402 1,067,337 19
Sep-12 20,650 19,550 20,350 18,025 54,846 1,105,406 20
14,000 40.0
Oct-12 22,300 19,950 21,400 16,613 71,139 1,504,225 22
Nov-12 23,250 21,150 23,250 16,524 59,652 1,332,810 20
10,500 30.0 Dec-12 23,250 21,800 22,450 16,591 56,310 1,270,025 18
7,000 20.0 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
3,500 10.0 Mar-13 23,550 21,850 23,300 23,869 94,226 2,139,138 19
Apr-13 26,450 22,750 26,400 22,551 75,064 1,827,956 22
May-13 27,400 23,750 23,750 27,114 77,761 1,949,529 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
Aug-13 22,450 16,500 19,700 27,991 79,314 1,531,570 17
Sep-13 21,900 18,000 18,000 32,816 92,486 1,815,659 21
Basic Industry and Chemicals Index Nov-13 21,200 18,250 18,850 25,471 62,059 1,201,282 20
75%
Jan-14 22,500 19,825 22,400 42,897 63,573 1,340,256 20
60% Feb-14 22,850 20,800 22,450 36,786 53,504 1,170,267 20
Mar-14 27,300 21,550 23,375 50,809 82,794 1,947,053 20
45% Apr-14 25,125 21,675 21,950 53,758 103,849 2,419,573 20
May-14 24,450 21,175 22,650 38,535 64,887 1,481,991 18
30% Jun-14 25,025 22,350 22,550 36,440 59,436 1,405,231 21
Jul-14 27,500 22,425 24,950 47,705 84,985 2,170,522 18
18.1% Aug-14 25,500 24,000 24,250 48,865 66,643 1,636,144 20
15%
9.1%
Sep-14 24,700 21,125 21,550 49,050 85,318 1,981,406 22
Oct-14 24,275 20,800 24,000 64,236 86,327 1,966,007 23
- -1.1% Nov-14 24,975 22,475 24,675 37,852 62,863 1,508,616 20
Dec-14 25,725 22,900 25,000 46,054 59,966 1,479,007 20
-15%
Jan-15 25,500 21,325 23,000 59,898 112,706 2,596,245 21

-30% Feb-15 24,325 22,650 24,050 38,270 51,124 1,209,902 19
Mar-15 24,300 20,475 21,925 53,486 87,898 1,969,041 22
-45% Apr-15 23,700 20,700 21,000 39,145 67,087 1,500,898 21
Jun-15 22,450 20,625 20,875 36,792 168,941 3,586,859 21
Jul-15 22,450 19,475 20,025 32,856 39,233 831,544 19
Days 246 244 242 244 20 Dec-15 22,800 19,025 22,325 37,676 33,403 693,474 19
Price (Rupiah) Jan-16 22,425 18,075 19,700 63,144 74,904 1,483,571 20

High 23,250 27,400 27,500 25,500 22,425
Low 15,800 16,500 19,825 16,000 18,075
Close 22,450 20,000 25,000 22,325 19,700
Close* 22,450 20,000 25,000 22,325 19,700
PER (X) 17.35 14.69 18.57 18.86 16.65

PER Industry (X) 9.79 6.83 16.60 5.33 6.00
PBV (X) 4.26 3.20 3.96 3.44 3.04

Receivables 1,976,769 2,454,818 2,518,588 2,670,993 2,534,690

1,327,720 1,470,305 1,473,645 1,665,546 1,521,197 24,000
Inventories
Current Assets 10,314,573 14,579,400 16,846,248 16,086,773 13,133,854
18,000
Fixed Assets 7,638,064 7,935,224 9,304,992 12,143,632 13,813,892
Other Assets 128,546 141,371 324,750 421,823 398,265
12,000
Total Assets 18,151,331 22,755,160 26,607,241 28,884,973 27,638,360
Growth (%) 25.36% 16.93% 8.56% -4.32% 6,000

Long Term Liabilities 940,783 917,660 889,465 839,613 1,084,667 2011 2012 2013 2014 Dec-15
Growth (%) 38.02% 8.79% 12.97% -7.99%
23,866
Paid up Capital 1,840,616 1,840,616 1,840,616 1,840,616 1,840,616 24,785 22,978

Par Value 500 500 500 500 500
19,729
15,734
14,673
Total Equity 15,733,951 19,418,738 22,977,687 24,784,801 23,865,950

Growth (%) 23.42% 18.33% 7.86% -3.71% 9,617
Total Revenues 13,887,892 17,290,337 18,691,286 19,996,264 17,798,055

Growth (%) 24.50% 8.10% 6.98% -10.99%
-496
2011 2012 2013 2014 Dec-15
Cost of Revenues 7,473,669 9,020,338 10,036,632 10,909,595 9,888,919

Gross Profit 6,414,223 8,269,999 8,654,654 9,086,669 7,909,136
Expenses (Income) 1,996,200 2,393,257 2,590,554 3,111,676 2,852,206
18,691
33.02% 3.19% -1.47% -15.37% 17,798
Growth (%)
19,996
17,290
13,888
15,917
Other Income (Expenses) 290,133 362,808 531,054 814,609 588,181

Tax 1,106,640 1,476,162 1,582,860 1,515,593 1,288,450

Profit for the period 3,601,516 4,763,388 5,012,294 5,274,009 4,356,661
7,759
Growth (%) 32.26% 5.23% 5.22% -17.39%

3,679
Current Ratio (%) 698.54 602.76 614.81 493.37 488.66
5,274
Dividend (Rp) 293.00 450.00 900.00 1,350.00 - 5,012
5,274
4,763
EPS (Rp) 977.10 1,293.15 1,361.02 1,431.82 1,183.48 4,357
BV (Rp) 4,274.10 5,275.07 6,241.85 6,732.75 6,483.14 4,198
3,602
DAR (X) 0.13 0.15 0.14 0.14 0.14
0.15 0.17 0.16 0.17 0.16
3,122
DER(X)
ROA (%) 19.84 20.93 18.84 18.26 15.76 2,046
ROE (%) 22.89 24.53 21.81 21.28 18.25

GPM (%) 46.19 47.83 46.30 45.44 44.44 970
OPM (%) 31.81 33.99 32.44 29.88 28.41

NPM (%) 25.93 27.55 26.82 26.37 24.48
-105
2011 2012 2013 2014 Dec-15

Payout Ratio (%) 29.99 34.80 66.13 94.29 -
Yield (%) 1.72 2.00 4.50 5.40 -

C
COOM
M PP A
ANN YY RR EE PP O
O RR TT
JSMR
JASA MARGA (PERSERO) TBK.
Company Profile
Jasa Marga is a state owned company with the line business of planning, constructing,
operating and maintaining toll roads along with developing and maximizing the use of land
in toll road areas and other related businesses. Jasa Marga’s business caracteristics are
defensive and resistant to fluctuated condition of global economy.
Based on the toll road concessions granted directly from the Government, Jasa Marga
currently manages and operates 13 toll road concessions through its nine branch offices
and one subsidiary
Apart from developing more toll roads to add the length of the toll roads operated, the
Company also develops other businesses by capitalizing various assets owned such as the
following:
 Utility and land rent.
 Rest area and property development.
 Advertisement
 Various services, including toll road operation from other parties.
Going forward, the Company’s business prospect will be robust as it is supported by new
concessions with sound financial feasibility that is integrated with existing concession
portfolio, strong and trusted financial structure, as well as assets utilization in prospective
businesses, which, in turn will support the Company’s sustainable growth.

February 2016
Disclaimer:

JSMR Jasa Marga (Persero) Tbk. [S]
Industry Sector : Infrastructure, Utilities And Transportation (7) Listed Shares : 6,800,000,000
Industry Sub Sector : Toll Road, Airport, Harbor And Allied Products (72) Market Capitalization : 39,100,000,000,000
22 | 39.1T | 0.80% | 63.69%
37 | 10.5T | 0.77% | 70.52%

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
Fax : (021) 570-9026 2012 94.24 29-May-13 30-May-13 03-Jun-13 18-Jun-13 F
2013 78.61 04-Apr-14 07-Apr-14 10-Apr-14 23-Apr-14 F
BOARD OF COMMISSIONERS 2015 43.13 06-Apr-16 07-Apr-16 11-Apr-16 29-Apr-16 F
1. Refly Harun
2. Akhmad Syakhroza ISSUED HISTORY
3. Boediarso Teguh Widodo Listing Trading
4. Hambra No. Type of Listing Shares Date Date
5. Sigit Widyawan *) 1. First Issue 2,040,000,000 12-Nov-07 12-Nov-07
6. Taufik Widjojono 2. Negara RI (Seri A) 1 12-Nov-07 12-Nov-07
*) Independent Commissioners 3. Company Listing 4,759,999,999 12-Nov-07 10-May-08
BOARD OF DIRECTORS
1. Adityawarman
2. Achiran Pandu Djajanto
3. Christantio Prihambodo
4. Hasanudin
5. Muh Najib Fauzan
6. Reynaldi Hermansjah
AUDIT COMMITTEE
1. Sigit Widyawan
2. Agita Widjajanto
3. Rustam Wahyudi
CORPORATE SECRETARY
Mohammad Sofyan
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
mohammad.sofyan@jasamarga.co.id

TRADING ACTIVITIES
Jasa Marga (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
7,400 160 Jan-12 4,575 4,125 4,375 12,368 230,785 993,508 21
Feb-12 4,775 4,325 4,700 12,003 265,300 1,209,137 21
6,475 140 Mar-12 5,150 4,625 5,150 14,902 168,517 813,781 21
Apr-12 5,700 4,875 5,350 19,314 230,817 1,196,346 20
May-12 5,550 4,925 5,150 23,617 448,775 2,326,901 21
5,550 120
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
4,625 100
Aug-12 6,000 5,550 5,750 12,949 157,924 899,890 19
Sep-12 5,850 5,650 5,850 10,923 131,027 753,148 20
3,700 80
Oct-12 5,950 5,650 5,800 12,435 173,137 999,567 22
Nov-12 5,850 5,650 5,700 9,709 152,420 876,690 20
2,775 60 Dec-12 5,850 5,450 5,450 9,539 159,861 908,441 18
1,850 40 Jan-13 5,700 5,100 5,500 17,310 287,693 1,560,093 21

Feb-13 5,650 5,400 5,550 13,401 204,434 1,133,501 20
925 20 Mar-13 5,950 5,600 5,950 15,101 195,334 1,128,937 19
Apr-13 6,750 5,900 6,700 14,419 221,969 1,418,115 22
May-13 6,950 6,500 6,700 17,482 146,129 973,809 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
Aug-13 6,150 5,300 5,450 18,323 152,358 868,013 17
Sep-13 5,850 5,050 5,200 19,992 204,787 1,144,362 21
Infrastructure, Utilities and Transportation Index Nov-13 5,450 4,825 5,100 22,103 154,529 793,812 20
70%
Jan-14 5,450 4,400 5,175 32,974 182,407 906,070 20
60% Feb-14 5,525 4,975 5,375 30,448 196,866 1,037,649 20
Mar-14 6,025 4,750 6,000 31,058 234,470 1,337,548 20
50% Apr-14 6,175 5,700 5,900 31,308 206,360 1,240,359 20
May-14 6,175 5,850 5,875 21,239 110,940 669,436 18
42.3% Jun-14 6,050 5,800 5,975 22,644 90,733 540,393 21
40%
Jul-14 6,500 5,925 6,425 30,588 211,439 1,322,874 18
31.4% Aug-14 6,625 6,100 6,200 32,799 94,443 594,250 20
30%
Sep-14 6,475 6,150 6,450 23,935 106,343 677,115 22
Oct-14 6,450 5,825 6,350 30,188 197,573 1,217,762 23
20%
18.1% Nov-14 7,075 6,325 6,750 25,934 202,949 1,345,264 20
Dec-14 7,050 6,675 7,050 28,826 94,777 653,785 20
10%
Jan-15 7,250 6,925 7,200 27,993 127,295 896,176 21

- Feb-15 7,225 6,900 7,100 29,950 129,358 914,804 19
Mar-15 7,200 6,975 7,200 30,454 144,110 1,022,917 22
-10% Apr-15 7,200 5,950 6,200 35,427 198,482 1,328,552 21
Jun-15 7,000 5,275 5,475 45,083 161,045 943,906 21
Jul-15 6,075 5,400 5,725 31,791 124,582 722,452 19
Days 246 244 242 244 20 Dec-15 5,250 4,575 5,225 48,841 129,847 631,845 19
Price (Rupiah) Jan-16 6,075 4,995 5,750 38,605 209,808 1,185,959 20

High 6,000 6,950 7,075 7,250 6,075
Low 4,125 4,525 4,400 4,500 4,995
Close 5,450 4,725 7,050 5,225 5,750
Close* 5,450 4,725 7,050 5,225 5,750
PER (X) 24.12 24.04 34.16 24.51 26.98

PER Industry (X) 17.53 12.11 20.04 15.24 14.31
PBV (X) 3.79 2.96 4.20 2.87 3.16

Receivables 87,994 64,092 177,198 148,829 164,374

- - - - 20,154 30,000
Inventories
Current Assets 3,996,741 4,531,117 3,746,345 3,641,372 3,729,047
22,500
Fixed Assets 15,945,902 422,507 593,028 701,727 913,843
Other Assets 440,239 289,155 130,965 121,561 1,007,135
15,000
Total Assets 21,432,134 24,753,551 28,366,345 31,857,948 36,724,982
Growth (%) 15.50% 14.60% 12.31% 15.28% 7,500

Growth (%) 22.75% 16.93% 16.76% 19.20%
Paid up Capital 3,400,000 3,400,000 3,400,000 3,400,000 3,400,000 12,369
10,867
11,425
9,240
Par Value 500 500 500 500 500
9,845

7,322
Total Equity 9,240,280 9,787,786 10,866,980 11,424,996 12,368,664

Growth (%) 5.93% 11.03% 5.13% 8.26% 4,799
Total Revenues 4,960,473 9,070,219 10,294,668 9,175,319 9,848,242

Growth (%) 82.85% 13.50% -10.87% 7.33%
-247
2011 2012 2013 2014 2015
Cost of Revenues - - - - 5,720,422

Gross Profit - - - - 4,127,820
Expenses (Income) 2,679,084 6,094,983 7,631,490 6,131,283 650,155
9,848
30.41% -10.49% 14.30% 14.25% 9,070 9,175
Growth (%)
10,295
8,195
Other Income (Expenses) -554,914 -919,979 -948,522 -1,222,062 -1,409,361

4,960
Tax 407,651 519,445 476,835 606,642 749,104
Growth (%) 16.45% -19.40% -1.82% 8.55%

1,894
Current Ratio (%) 106.05 68.16 76.15 84.43 48.16
1,536
Dividend (Rp) 78.88 94.24 78.61 - 43.13
1,319 1,319
EPS (Rp) 196.98 235.60 196.52 206.39 213.14 1,238 1,215
BV (Rp) 1,358.86 1,439.38 1,598.09 1,680.15 1,818.92 1,223
DAR (X) 0.57 0.60 0.62 0.64 0.66

1.32 1.53 1.61 1.79 1.97
909
DER(X)
ROA (%) 6.15 6.20 4.36 3.81 3.59 596
ROE (%) 14.27 15.69 11.39 10.64 10.67

GPM (%) - - - - 41.91 283
OPM (%) 45.99 32.80 25.87 33.18 35.31

NPM (%) 26.59 16.93 12.02 13.25 13.40
-31
2011 2012 2013 2014 2015

Payout Ratio (%) 40.04 40.00 40.00 - 20.24
Yield (%) 1.88 1.73 1.66 - 0.83

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
KLBF
KALBE FARMA TBK.
Company Profile
PT Kalbe Farma Tbk. was established dated September 10th, 1966, within the framework of
the Domestic Capital Investment Law.

The scope of activities of the Company comprises, among others, pharmaceuticals, trading
and representative. Currently, the Company is primarily engaged in the development,
manufacturing, and trading of pharmaceuticals preparation including medicines and
consumer health products. The Company started its commercial operations in 1966.

The Subsidiaries are engaged in :
the Pharmaceutical: PT Bintang Toedjoe, PT Hexpharm Jaya Laboratories, PT Saka Farma
Laboratories, PT Finusolprima Farma Internasional, PT Bifarma Adiluhung, Innogene
Kalbiotech Pte. Ltd., PT Dankos Farma, PT Pharma Metric Labs., PT KalGen DNA, PT Kalbio
Global Medika.
Health Foods and Drinks: PT Sanghiang Perkasa, PT Kalbe Morinaga Indonesia, PT Hale
International, PT Kalbe Milko Indonesia.
Sale and Distribution: PT Enseval Putera Megatrading Tbk., PT Tri Sapta Jaya, PT Millenia
Dharma Insani, PT Enseval Medika Prima, PT Global Chemindo Megatrading, PT Renalmed
Tiara Utama, PT Medika Renal Citraprima, Kalbe Vision Pte. Ltd., Kalbe International Pte.
Ltd., Asiawide Kalbe Philippines Inc., PT Karsa Lintas Buwana, Kalbe Mayia Sdn. Bhd.

The Company’s production plants is located at Kawasan Industri Delta Silicon, Jln. M.H.
Thamrin, Block A3‐1, Lippo Cikarang, Bekasi.

As of December 31st, 2015, the Group had a combined total of 12,611 permanent
employees.
February 2016
Disclaimer:

KLBF Kalbe Farma Tbk. [S]
Industry Sub Sector : Pharmaceuticals (53) Market Capitalization : 62,578,288,016,850
14 | 62.6T | 1.28% | 55.68%
17 | 19.8T | 1.44% | 50.43%

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 4,550,646,840 : 9.71%
Under Writer IPO : 3. PT Diptanala Bahana 4,447,970,440 : 9.49%
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 4,038,773,740 : 8.62%
PT Adimitra Jasa Korpora 7. Public (<5%) 20,310,509,825 : 43.33%
Rukan Kirana Boutique Office
Jln. Kirana Avenue III Blok F3 No. 5, Kelapa Gading, Jakarta Utara DIVIDEND ANNOUNCEMENT
Phone : (021) 2974-5222 Bonus Cash Recording Payment
F/I
Fax : Year Shares Dividend Cum Date Ex Date Date Date
1991 200.00 16-Apr-92 20-Apr-92 27-Apr-92 29-May-92 F
BOARD OF COMMISSIONERS 1991 1: 1 20-Oct-92 21-Oct-92 28-Oct-92 16-Nov-92 B
1. Johannes Setijono 1992 60.00 09-Dec-92 10-Dec-92 17-Dec-92 15-Jan-93 I
2. Farid Anfasa Moeloek *) 1992 70.00 30-Jun-93 01-Jul-93 08-Jul-93 06-Aug-93 F
3. Ferdinand Aryanto 1993 10 : 3 & 10 : 7 75.00 07-Jun-94 08-Jun-94 15-Jun-94 15-Jul-94 F
4. Johanes Berchman Apik Ibrahim *) 1994 50.00 29-Aug-94 30-Aug-94 06-Sep-94 06-Oct-94 I
5. Lucky Surjadi Slamet *) 1994 85.00 10-Jul-95 11-Jul-95 19-Jul-95 18-Aug-95 F
6. Ronny Hadiana 1995 115.00 09-Jul-96 10-Jul-96 18-Jul-96 15-Aug-96 F
7. Santoso Oen 1996 75.00 23-Jul-97 24-Jul-97 01-Aug-97 29-Aug-97 F
*) Independent Commissioners 1999 2.00 10-Nov-00 13-Nov-00 20-Nov-00 06-Dec-00 F
1999 100 : 88 10-Nov-00 13-Nov-00 20-Nov-00 06-Dec-00 F
BOARD OF DIRECTORS 2002 2.00 25-Aug-03 26-Aug-03 28-Aug-03 11-Sep-03 F
1. Bernadette Ruth Irawaty Setiady 2003 1.00 16-Aug-04 18-Aug-04 20-Aug-04 03-Sep-04 F
2. Bujung Nugroho 2005 3.00 05-Jul-05 06-Jul-05 08-Jul-05 22-Jul-05 F
3. Djonny Hartono Tjahyadi 2006 10.00 14-Jun-07 15-Jun-07 19-Jun-07 03-Jul-07 I
4. Ongkie Tedjasurja 2007 10.00 31-Jul-08 01-Aug-08 05-Aug-08 20-Aug-08 F
5. Vidjongtius 2008 12.50 29-Jul-09 30-Jul-09 03-Aug-09 14-Aug-09 F
2009 25.00 15-Jul-10 16-Jul-10 20-Jul-10 30-Jul-10 F
AUDIT COMMITTEE 2010 70.00 27-Jun-11 28-Jun-11 01-Jul-11 13-Jul-11 F
1. Lucky Surjadi Slamet 2011 95.00 28-Jun-12 29-Jun-12 03-Jul-12 17-Jul-12 F
2. Kai Arief Iman Selomulya 2012 19.00 13-Jun-13 14-Jun-13 18-Jun-13 02-Jul-13 F
3. Kurniawan Tedjo 2013 17.00 13-Jun-14 16-Jun-14 18-Jun-14 02-Jul-14 F
2014 19.00 25-May-15 26-May-15 28-May-15 17-Jun-15 F
CORPORATE SECRETARY
Vidjongtius ISSUED HISTORY
Listing Trading
HEAD OFFICE No. Type of Listing Shares Date Date
Kalbe Building 3rd Fl. 1. First Issue 10,000,000 30-Jul-91 30-Jul-91
Jln. Let. Jend. Suprapto Kav. 4, Cempaka Putih 2. Partial Listing 10,000,000 T: 30-Jul-91 : 30-Jan-92
Jakarta 10510 3. Koperasi 500,000 T: 27-Feb-92 : 31-Dec-99
Phone : (021) 428-73688, 894-243908 4. Company Listing 29,500,000 29-Apr-92 29-Apr-92
Fax : (021) 428-73678 5. Bonus Shares 2,026,400,000 T: 17-Nov-92 : 06-Dec-00
6. Right Issue 8,000,000 T: 14-May-93 : 25-Jun-93
Homepage : www.kalbe.co.id 7. Dividen Shares 32,400,000 18-Jul-94 18-Jul-94
Email : Vidjongtius@kalbe.co.id 8. Stock Split 6,004,800,000 T: 07-Oct-96 : 02-Jan-04
9. Additional Listing (Merger) 2,034,414,422 21-Dec-05 21-Dec-05
10. Stock Splits 40,624,057,688 08-Oct-12 08-Oct-12
11. Decrease in Issued and Fully Paid Shares -3,904,950,000 13-Dec-13 13-Dec-13

TRADING ACTIVITIES
Kalbe Farma Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,000 320 Jan-12 3,650 3,375 3,525 15,399 122,271 428,028 21
Feb-12 3,600 3,400 3,500 18,914 172,533 602,764 21
1,750 280 Mar-12 3,550 3,375 3,550 18,538 283,565 982,054 21
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
1,500 240
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
1,250 200
Aug-12 4,000 3,750 3,875 33,041 255,670 999,731 19
Sep-12 4,700 3,900 4,700 33,617 272,454 1,158,254 20
1,000 160
Oct-12 4,975 910 970 54,533 779,898 998,575 22
Nov-12 1,040 960 1,030 68,691 1,528,172 1,514,316 20
750 120 Dec-12 1,150 980 1,060 53,129 1,506,913 1,585,510 18
500 80 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
250 40 Mar-13 1,380 1,190 1,240 51,451 1,724,553 2,181,688 19
Apr-13 1,390 1,200 1,390 51,858 1,928,884 2,479,590 22
May-13 1,560 1,320 1,450 67,894 1,973,262 2,887,922 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
Aug-13 1,510 1,110 1,350 71,639 1,391,354 1,888,689 17
Sep-13 1,440 1,180 1,180 92,703 1,885,390 2,494,405 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-13 1,390 1,220 1,300 82,161 1,732,152 2,302,731 21
Consumer Goods Industry Index Nov-13 1,370 1,200 1,220 55,361 1,256,613 1,624,072 20
210%
Jan-14 1,455 1,260 1,405 115,285 1,481,958 2,036,864 20
180% Feb-14 1,480 1,360 1,450 90,285 1,393,045 1,969,357 20
Mar-14 1,495 1,400 1,465 100,433 1,431,485 2,067,755 20
150% Apr-14 1,550 1,455 1,545 90,527 1,213,480 1,838,928 20
May-14 1,660 1,535 1,540 54,597 933,943 1,482,209 18
120% Jun-14 1,670 1,560 1,660 94,173 726,980 1,181,149 21
Jul-14 1,800 1,640 1,730 88,132 1,239,481 2,139,985 18
93.5% Aug-14 1,700 1,580 1,660 113,962 1,752,185 2,873,280 20
90%
Sep-14 1,710 1,640 1,700 91,511 907,341 1,522,631 22
Oct-14 1,715 1,595 1,705 92,218 1,088,205 1,816,283 23
60% 61.6%
Nov-14 1,795 1,650 1,750 77,230 739,375 1,265,949 20
Dec-14 1,835 1,715 1,830 79,479 1,036,522 1,844,446 20
30%
18.1%
Jan-15 1,880 1,775 1,865 67,451 931,699 1,699,637 21
- Feb-15 1,870 1,780 1,805 72,888 924,635 1,684,580 19
Mar-15 1,865 1,775 1,865 76,831 1,156,024 2,102,717 22
-30% Apr-15 1,915 1,750 1,795 72,828 906,565 1,672,698 21
Jan 12 Jan 13 Jan 14 Jan 15 Jan 16 May-15 1,870 1,730 1,840 92,844 1,178,383 2,127,734 19
Jun-15 1,825 1,590 1,675 90,201 712,306 1,205,743 21
Jul-15 1,745 1,630 1,745 92,629 560,733 938,956 19
SHARES TRADED 2012 2013 2014 2015 Jan-16 Aug-15 1,735 1,405 1,675 110,480 1,084,676 1,706,243 20
Volume (Million Sh.) 6,640 19,997 13,944 12,168 1,293 Sep-15 1,700 1,250 1,375 86,684 887,975 1,334,895 21
Frequency (Thou. X) 431 823 1,088 1,080 89 Nov-15 1,455 1,305 1,335 94,453 1,193,529 1,635,558 21
Days 246 244 242 244 20 Dec-15 1,390 1,135 1,320 97,512 1,356,241 1,718,826 19
Price (Rupiah) Jan-16 1,505 1,275 1,335 88,640 1,293,400 1,780,459 20

High 4,975 1,560 1,835 1,915 1,505
Low 910 1,000 1,260 1,135 1,275
Close 1,060 1,250 1,830 1,320 1,335
Close* 1,060 1,250 1,830 1,320 1,335
PER (X) 30.38 30.53 43.27 30.87 31.22

PER Industry (X) 19.75 15.98 24.22 17.69 17.48
PBV (X) 7.30 6.89 9.30 5.66 5.72

Receivables 1,635,311 1,938,156 2,273,379 2,464,902 2,434,082

1,705,189 2,115,484 3,053,495 3,090,544 3,003,150 11,200
Inventories
Current Assets 5,956,123 6,441,711 7,497,319 8,120,805 8,748,492
8,400
Fixed Assets 1,860,288 2,254,763 2,925,547 3,404,457 3,938,494
Other Assets 286,899 - 357,861 326,536 346,531
5,600
Total Assets 8,274,554 9,417,957 11,315,061 12,425,032 13,696,417
Growth (%) 13.82% 20.14% 9.81% 10.23% 2,800

Long Term Liabilities 128,031 154,696 174,513 221,637 392,251 2011 2012 2013 2014 Dec-15
Growth (%) 16.36% 37.57% -7.37% 5.77%
Authorized Capital 850,000 1,700,000 850,000 850,000 850,000 10,938
Paid up Capital 507,801 507,801 507,801 468,751 468,751 10,489
9,817
Par Value 50 50&10 10 10 10 8,349
7,372
Total Equity 6,515,935 7,371,644 8,499,958 9,817,476 10,938,286

6,209
Growth (%) 13.13% 15.31% 15.50% 11.42% 4,070
Total Revenues 10,911,860 13,636,405 16,002,131 17,368,533 17,887,464

Growth (%) 24.97% 17.35% 8.54% 2.99%
-210
2011 2012 2013 2014 Dec-15
Cost of Revenues 5,360,687 7,102,971 8,323,018 8,892,737 9,295,887

Gross Profit 5,551,173 6,533,434 7,679,113 8,475,795 8,591,577
Expenses (Income) 3,563,914 4,225,417 5,106,591 5,712,095 5,870,696
Operating Profit - - - - - 17,369 17,887
16,002
Growth (%)
17,369
13,636
- - - - -
13,825
Other Income (Expenses) 10,912

Tax 464,303 532,918 602,070 642,610 663,187

Growth (%) 16.56% 11.01% 7.64% -2.99%

3,196
Current Ratio (%) 365.27 340.54 283.93 340.36 369.78
2,121 2,058
Dividend (Rp) 95.00 19.00 17.00 19.00 - 2,121 1,970
145.95 28.45 37.80 44.05 42.76 1,775
EPS (Rp)
641.58 120.97 167.39 209.44 233.35 1,523
BV (Rp)
1,688
DAR (X) 0.21 0.22 0.25 0.21 0.20

0.27 0.28 0.33 0.27 0.25
1,256
DER(X)
ROA (%) 18.41 18.85 17.41 17.07 15.02 823
ROE (%) 23.37 24.08 23.18 21.61 18.81

GPM (%) 50.87 47.91 47.99 48.80 48.03 390
OPM (%) - - - - -
NPM (%) 13.96 13.02 12.31 12.21 11.50
-42
2011 2012 2013 2014 Dec-15

Payout Ratio (%) 65.09 66.77 44.97 43.14 -
Yield (%) 2.79 1.79 1.36 1.04 -

COMPANY REPORT
LPKR
LIPPO KARAWACI TBK.
Company Profile

PT Lippo Karawaci Tbk. was established under the name PT Tunggal Reksakencana dated
October 15th, 1990.

The Company’s scope of activities include real estate, urban development, land purchasing
and clearing, land cut and fill, land development and excavation, infrastructure
development planning, developing, leasing, selling and managing of buildings, houses,
offices and industrial estates, hotels, hospitals, commercial centers and sports centers,
supporting infrastructure, including but not limited to golf courses, club houses,
restaurants, other entertainment centers, medical laboratories, medical pharmacies and
related facilities, directly or by investment or capital divestment; build and operate
environment infrastructure, build and manage public facilities and accommodation services
and operating activities in services consisting of public transportation, security services and
other supporting services, except for legal and taxation services.
The main activities of the Company include urban development, large scale integrated
development, retail malls, healthcare, hospitals & infrastructure, also property & portfolio
management.

The Company creates well‐planned developments that circumvent traffic congestion, are
flood‐free, and possess world‐class infrastructure. The Company is driven by its vision of
impacting lives, while continuously creating value for its stakeholders. The needs of the
growing middle, upper middle and upper classes of Indonesia are met by the quality of the
services offered through each business segment, while sustainable growth is achieved
through a balanced portfolio of development projects supported and sustained by a stable
level of recurring income from healthcare, hotel leisure & hospitality, infrastructure, and
fee‐based income as Retail Estate Investment Trust (REIT) and property managers.

The company is one of the incorporated in the business group Lippo Group.

As of 31 December 2015, the Company and subsidiaries had 11,200 employees.
February 2016
Disclaimer:

LPKR Lippo Karawaci Tbk. [S]
34 | 24.3T | 0.50% | 71.02%
13 | 20.9T | 1.53% | 44.56%

Established Date : 15-Oct-1990 1. Pacific Asia Holding Ltd. 3,676,619,908 : 15.93%
Listing Date : 28-Jun-1996 2. Credit Suisse Agsg Traccl PT Metropolis Propertindo Utama-202390421 1,212,280,000 : 5.25%
Under Writer IPO : 3. Bank Julius Baerand Co. Ltd. S/A Pacific Asia Holdings Limited 450,000,000 : 1.95%
PT Pentasena Arthasentosa 4. Public (<5%) 17,738,789,711 : 76.87%
PT Sharestar Indonesia DIVIDEND ANNOUNCEMENT
Berita Satu Plasa 7th Fl. Bonus Cash Recording Payment
F/I
Jln. Jend. Gatot Subroto Kav. 35-36, Jakarta 12950 Year Shares Dividend Cum Date Ex Date Date Date
Phone : (021) 527-7966 1995 40.00 05-Dec-96 06-Dec-96 16-Dec-96 14-Jan-97 F
Fax : (021) 527-7967 1997 10.00 13-Jan-98 14-Jan-98 22-Jan-98 20-Feb-98 F
2005 10.00 19-Aug-05 22-Aug-05 24-Aug-05 08-Sep-05
BOARD OF COMMISSIONERS 2005 9.99 01-Dec-06 04-Dec-06 06-Dec-06 20-Dec-06 F
1. Theo Leo Sambuaga 2006 4.62 04-Dec-07 05-Dec-07 07-Dec-07 27-Dec-07 F
2. Agum Gumelar *) 2010 2.88 11-Nov-10 12-Nov-10 16-Nov-10 01-Dec-10 I
3. Farid Harianto *) 2010 4.33 05-Oct-11 06-Oct-11 10-Oct-11 24-Oct-11 F
4. Muladi *) 2011 7.79 27-Aug-12 28-Aug-12 30-Aug-12 13-Sep-12 F
5. Surjadi Soedirdja *) 2012 11.85 29-Nov-13 02-Dec-13 04-Dec-13 18-Dec-13 F
6. Sutiyoso *) 2013 14.05 02-Dec-14 03-Dec-14 05-Dec-14 19-Dec-14 F
7. Tanri Abeng 2015 3.50 01-Apr-16 04-Apr-16 06-Apr-16 27-Apr-16 F
ISSUED HISTORY
1. Ketut Budi Wijaya No. Type of Listing Shares Date Date
2. Alwi R. Sjaaf 1. First Issue 30,800,000 28-Jun-96 28-Jun-96
3. Jenny Kuistono 2. Company Listing 244,000,000 T: 28-Jun-96 : 28-Feb-97
4. Johanes Jany 3. Convertible Bond 105,072,500 28-Jun-96 28-Jun-96
5. Chan Cehee Meng 4. Right Issue 5,815,239,737 T: 16-Jan-98 : 30-Dec-10
6. Rahmawaty 5. Add Listing (Merger) 1,063,275,250 02-Aug-04 02-Aug-04
7. Lee Heok Seng 6. Warrant 279,099 T: 28-Jul-05 : 17-May-06
8. Richard H. Setiadi WP 7. Stock Split 13,314,419,679 T: 28-Jul-06 : 26-Dec-07
9. Tjokro Libianto 8. Warrant I 1,054,603,354 T: 23-Nov-06 : 05-Dec-07
9. Additional Listing without RI 1,450,000,000 08-Jun-11 08-Jun-11
AUDIT COMMITTEE
1. Muladi
2. Achmad Kurniadi
3. Herbudianto
CORPORATE SECRETARY
Sri Mulyati Handoyo
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 1,600 Jan-12 690 650 670 7,523 673,010 452,467 21
Feb-12 730 660 700 10,764 1,138,080 798,503 21
1,750 1,400 Mar-12 830 680 800 16,038 1,807,733 1,321,460 21
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
1,500 1,200
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
1,250 1,000
Aug-12 1,010 830 870 14,052 1,025,678 946,477 19
Sep-12 990 870 990 10,666 710,159 659,702 20
1,000 800
Oct-12 990 900 930 11,956 750,374 715,666 22
Nov-12 1,090 910 1,070 22,082 1,517,269 1,484,768 20
750 600 Dec-12 1,120 970 1,000 18,552 1,234,505 1,262,027 18
500 400 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
250 200 Mar-13 1,380 1,100 1,370 27,626 1,944,365 2,354,312 19
Apr-13 1,420 1,270 1,350 47,000 1,764,716 2,375,613 22
May-13 1,840 1,330 1,840 69,663 4,005,347 6,269,291 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
Aug-13 1,420 850 1,150 45,795 1,988,899 2,346,408 17
Sep-13 1,370 930 1,090 64,901 2,818,915 3,229,906 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-13 1,190 990 1,130 68,222 2,516,548 2,710,895 21
Property, Real Estate and Bulding Construction Index Nov-13 1,150 860 910 41,217 2,116,780 2,026,117 20
January 2012 - January 2016 Dec-13 990 870 910 29,306 1,988,284 1,817,800 19
210%
Jan-14 1,000 855 950 37,016 2,155,619 2,024,577 20
180% Feb-14 960 910 940 39,852 2,392,473 2,240,643 20
Mar-14 1,295 920 1,085 61,757 2,407,412 2,582,770 20
150% Apr-14 1,220 1,040 1,070 47,022 1,840,563 2,076,457 20
May-14 1,160 1,035 1,035 29,729 1,310,521 1,437,331 18
120% Jun-14 1,065 930 960 28,924 1,476,320 1,487,519 21
Jul-14 1,180 945 1,100 38,898 2,232,519 2,453,791 18
103.1%
Aug-14 1,240 1,060 1,070 43,011 1,402,081 1,610,434 20
90%
Sep-14 1,080 935 940 49,324 1,734,697 1,771,314 22
Oct-14 1,080 885 1,070 68,627 2,797,512 2,764,165 23
60% 62.3%
Nov-14 1,180 1,005 1,165 33,157 1,493,052 1,613,526 20
Dec-14 1,195 970 1,020 49,252 1,979,358 2,101,691 20
30%
19.6%
Jan-15 1,155 980 1,135 59,914 2,548,120 2,690,503 21
- Feb-15 1,180 1,090 1,180 46,815 1,659,815 1,874,205 19
Mar-15 1,355 1,070 1,350 49,443 2,003,589 2,359,437 22
-30% Apr-15 1,460 1,150 1,185 35,527 1,133,692 1,522,562 21
Jun-15 1,310 1,085 1,180 62,466 1,226,392 1,425,250 21
Jul-15 1,225 1,105 1,155 50,953 1,569,210 1,826,821 19
SHARES TRADED 2012 2013 2014 2015 Jan-16 Aug-15 1,170 910 1,070 52,105 1,139,478 1,198,968 20
Volume (Million Sh.) 12,933 26,782 23,222 18,995 1,412 Sep-15 1,195 995 1,130 49,567 1,787,071 1,991,245 21
Frequency (Thou. X) 153 548 527 664 93 Nov-15 1,350 1,110 1,285 83,527 1,626,938 2,003,360 21
Days 246 244 242 244 20 Dec-15 1,380 1,005 1,035 72,222 1,064,529 1,250,885 19
Price (Rupiah) Jan-16 1,080 990 1,055 93,352 1,411,606 1,466,344 20

High 1,120 1,850 1,295 1,460 1,080
Low 650 850 855 910 990
Close 1,000 910 1,020 1,035 1,055
Close* 1,000 910 1,020 1,035 1,055
PER (X) 9.30 17.10 16.76 44.61 45.47

PER Industry (X) 17.34 9.57 16.29 18.66 17.68
PBV (X) 2.01 1.48 1.44 1.26 1.29

Receivables 923,556 605,801 781,409 951,104 1,434,348

7,892,171 10,504,910 13,894,009 16,553,036 20,458,990 34,000
Inventories
Investment 2,963,651 85,784 130,431 123,284 385,271
25,500
Fixed Assets 210,276 2,222,377 2,810,892 3,208,763 2,731,533
Other Assets 419,508 - 60,968 718,887 43,067
17,000
Total Assets 18,259,171 24,869,296 31,300,362 37,761,221 41,326,558
Growth (%) 36.20% 25.86% 20.64% 9.44% 8,500
Bank Payable - 70,825 59,680 216,501 1,482,184 -

Trade Payable 416,871 575,701 397,748 395,134 782,916 2011 2012 2013 2014 2015
Growth (%) 51.40% 27.79% 17.47% 11.41%
Paid up Capital 2,307,769 2,307,769 2,307,769 2,307,769 2,307,769 18,917 17,646

14,178
Par Value 100 100 100 100 100
15,058
11,470
11,199
9,409
Total Equity 9,409,018 11,470,106 14,177,573 17,646,449 18,916,765
Growth (%) 21.91% 23.60% 24.47% 7.20% 7,340
Total Revenues 4,189,580 6,160,214 6,666,214 11,655,042 8,703,650

Growth (%) 47.04% 8.21% 74.84% -25.32%
-378
2011 2012 2013 2014 2015
Cost of Revenues 2,293,260 3,339,267 3,619,572 6,257,664 4,791,656

Gross Profit 1,896,320 2,820,947 3,046,643 5,397,378 3,911,994
Operating Expenses 968,324 1,271,753 1,103,623 1,588,588 2,421,661
66.94% 25.42% 96.02% -60.87%

11,655
Growth (%)
9,277
8,704
Other Income (Expenses) 56,814 27,895 -18,190 -113,812 -205,503
6,666
Income before Tax 984,810 1,577,088 1,924,830 3,694,979 1,284,830 6,900 6,160
Tax 170,716 254,241 332,339 559,763 260,709

4,190
Profit for the period 814,094 1,322,847 1,592,491 3,135,216 1,024,121
4,522
Growth (%) 62.49% 20.38% 96.87% -67.33%

2,145
Period Attributable 708,282 1,060,222 1,228,230 2,547,285 535,394 -233
Comprehensive Income 579,917 2,482,548 1,676,148 2,996,884 616,914 2011 2012 2013 2014 2015
Comprehensive Attributable 474,105 2,219,923 1,311,887 2,408,953 148,483
Dividend (Rp) 7.79 11.85 14.05 - 3.50
3,135
EPS (Rp) 30.69 45.94 53.22 110.38 23.20 3,135
BV (Rp) 407.71 497.02 614.34 764.65 819.70

DAR (X) 0.48 0.54 0.55 0.53 0.54 2,496
DER(X) 0.94 1.17 1.21 1.14 1.18

1,592
4.46 5.32 5.09 8.30 2.48
1,856
ROA (%) 1,323

ROE (%) 8.65 11.53 11.23 17.77 5.41 1,216
1,024
814
GPM (%) 45.26 45.79 45.70 46.31 44.95
OPM (%) 22.15 25.15 29.15 32.68 17.12 577
NPM (%) 19.43 21.47 23.89 26.90 11.77

Payout Ratio (%) 25.38 25.79 26.40 - 15.09
-63
2011 2012 2013 2014 2015

Yield (%) 1.18 1.19 1.54 - 0.34

COMPANY REPORT
LPPF
MATAHARI DEPARTMENT STORE TBK.
Company Profile

PT Matahari Department Store Tbk. was established under the name PT Stephens Utama
International Leasing Corp. dated April 1st, 1982. The Company started its commercial
operations in 1982.

Since 30 October 2009, th Company has engaged in the reail bussiness for several types of
products such as clothes, accessories, bags, shoes, cosmetics, and household appliances,
and management consulting service.

The Company’s operational head office is located in Menara Matahari 15th Fl., Jln.
Boulevard Palem Raya No. 7, Lippo Karawaci ‐ Tangerang, Banten, and the stores are
located in cities throughout Indonesia. As of 31 December 2015, the Company operates
142 stores.

Parent company is PT Indonesia Meadow and PT Indonesia Meadow parent company is
Meadow Asia Holding Ltd., a company domiciled in Cayman Islands.
February 2015
Disclaimer:

LPPF Matahari Department Store Tbk. [S]
Development Board Individual Index : 362.529
Industry Sub Sector : Retail Trade (93) Market Capitalization : 46,686,689,280,000
19 | 46.7T | 0.95% | 61.15%
12 | 24.0T | 1.75% | 43.03%

Established Date : 01-Apr-1982 1. PT Multipolar Tbk. 597,529,500 : 20.48%
Under Writer IPO :
PT Aseam Indonesia DIVIDEND ANNOUNCEMENT
PT Finconesia Bonus Cash Recording Payment
F/I
PT Multicor Year Shares Dividend Cum Date Ex Date Date Date
PT Bank Pembangunan Indonesia 1990 5:1 50.00 11-Jul-90 12-Jul-90 20-Jul-90 22-Aug-90 I
PT Danareksa 1990 100.00 02-Jul-91 03-Jul-91 10-Jul-91 12-Aug-91 F
Securities Administration Bureau : 1991 1 :2 175.00 13-Jul-92 14-Jul-92 21-Jul-92 11-Aug-92 F
PT Sharestar Indonesia 1992 75.00 10-Jun-93 11-Jun-93 19-Jun-93 19-Jul-93 F
Berita Satu Plasa 7th Fl. 1993 5:1 50.00 21-Jul-94 22-Jul-94 29-Jul-94 26-Aug-94 F
Jln. Jend. Gatot Subroto Kav. 35-36, Jakarta 12950 1994 75.00 23-Jun-95 26-Jun-95 04-Jul-95 03-Aug-95 F
2010 32.25 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
BOARD OF COMMISSIONERS 2010 14.00 22-Aug-11 23-Aug-11 25-Aug-11 15-Sep-11 F
1. John Bellis 2013 157.70 11-Jun-14 12-Jun-14 16-Jun-14 30-Jun-14 F
2. Henry Jani Liando
3. Jonathan Limbong Parapak *) ISSUED HISTORY
4. Rene Mang Wing Ming Listing Trading
5. Sigit Prasetya No. Type of Listing Shares Date Date
6. William Travis Saucer 1. First Issue 2,140,000 09-Oct-89 09-Oct-89
*) Independent Commissioners 2. Partial Listing 2,250,000 12-Apr-90 24-Apr-90
3. Bonus Shares 878,000 27-Aug-90 27-Aug-90
BOARD OF DIRECTORS 4. Bonus Shares 10,536,000 13-Aug-92 13-Aug-92
1. Bunjamin Jonathan Mailool 5. Dividen Shares 3,160,800 02-Sep-94 02-Sep-94
2. Andre Rumantir 6. Company Listing 11,880,000 11-Jun-97 11-Jun-97
3. Andy N. Purwohardono 7. Right Issue 1,295,481,600 19-Jul-01 19-Jul-01
4. Larry Michael Remsen 8. Reverse Stocks -1,061,061,120 09-Nov-09 09-Nov-09
5. Wai Hoong Fock 9. Right Issue 2,652,652,800 04-Dec-09 04-Dec-09
6. Joo Suk Kim
AUDIT COMMITTEE
1. John Bellis
2. Isnandar Rachmat Ali
3. Farid Harianto
CORPORATE SECRETARY
Miranti Hadisusilo
HEAD OFFICE
Menara Matahari 15th Fl.
Jln. Bulevar Palem Raya No. 7, Lippo Karawaci - 1200
Tangerang 15811
Phone : (021) 547-5333
Fax : (021) 547-5232
Homepage : www.matahari.co.id
Email : miranti.hadisusilo@matahari.co.id
corporate.communication.mds@matahari.co.id

TRADING ACTIVITIES
Matahari Department Store Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
20,000 1,600 Jan-12 2,300 2,300 2,300 5 21 47 2
Feb-12 - - 2,300 - - - -
17,500 1,400 Mar-12 - - 2,300 - - - -
Apr-12 2,300 2,300 2,300 4 11 24 4
May-12 2,500 2,500 2,500 2 2 5 2
15,000 1,200
Jun-12 - - 2,500 - - - -
Jul-12 2,500 2,500 2,500 3 17 43 3
12,500 1,000
Aug-12 2,600 2,500 2,600 3 7 18 2
Sep-12 2,700 2,700 2,700 1 1 3 1
10,000 800
Oct-12 - - 2,700 - - - -
Nov-12 - - 2,700 - - - -
7,500 600 Dec-12 - - 2,700 - - - -
5,000 400 Jan-13 - - 2,700 - - - -

Feb-13 3,375 2,500 3,375 8 8 20 2
2,500 200 Mar-13 11,550 4,200 11,000 5,694 2,299,282 17,961,295 5
Apr-13 12,200 11,000 12,100 16,693 158,212 1,822,277 22
May-13 14,200 11,950 13,000 15,960 94,072 1,243,071 22
Jun-13 13,050 9,750 11,600 20,216 159,803 1,792,094 19
Jul-13 13,250 10,500 12,450 19,188 99,430 1,158,399 23
Aug-13 14,500 10,500 12,450 39,379 254,031 3,143,021 17
Sep-13 13,600 10,000 10,500 30,316 109,528 1,229,329 21
770%
Jan-14 13,075 10,800 11,625 32,152 56,432 661,262 20
660% Feb-14 15,000 11,475 14,000 47,132 131,382 1,738,718 20
595.7% Mar-14 15,000 12,900 13,900 50,174 338,527 4,466,054 20
550% Apr-14 15,500 13,675 15,000 44,656 114,974 1,700,858 20
May-14 15,175 13,500 14,525 27,255 66,252 970,987 18
440% Jun-14 14,550 13,500 13,800 37,570 61,124 855,042 21
Jul-14 15,450 13,475 14,500 36,632 83,450 1,204,403 18
Aug-14 18,000 13,725 16,275 71,943 487,072 7,064,996 20
330%
Sep-14 17,100 15,650 16,225 66,159 97,910 1,593,883 22
Oct-14 16,350 14,250 14,625 54,089 112,386 1,724,398 23
220%
Nov-14 15,700 14,025 15,000 47,206 75,862 1,121,722 20
Dec-14 15,850 14,025 15,000 52,839 99,075 1,469,530 20
110%
33.4% Jan-15 16,200 14,125 15,525 58,908 446,605 6,762,194 21

- 18.1% Feb-15 18,100 14,800 17,850 59,414 263,261 3,981,884 19
Mar-15 20,000 17,300 19,700 72,275 119,919 2,180,042 22
-110% Apr-15 20,225 16,100 17,500 67,293 120,762 2,193,928 21
Jun-15 18,000 15,800 16,550 62,890 103,593 1,750,968 21
Jul-15 18,125 15,800 17,500 63,226 98,391 1,691,697 19
Volume (Million Sh.) 0.06 3,340 1,724 1,775 115 Sep-15 17,475 15,150 16,100 63,237 92,007 1,467,454 21
Value (Billion Rp) 0.1 30,221 24,572 28,863 1,907 Oct-15 18,025 15,600 16,575 87,571 129,214 2,124,978 21
Frequency (Thou. X) 0.02 193 568 806 70 Nov-15 16,875 14,500 15,650 70,212 99,786 1,568,901 21
Days 14 191 242 244 20 Dec-15 17,900 15,800 17,600 59,417 69,198 1,168,321 19
Price (Rupiah) Jan-16 17,750 15,625 16,000 69,519 115,327 1,906,616 20

High 2,700 14,500 18,000 20,225 17,750
Low 2,300 2,500 10,800 14,125 15,625
Close 2,700 11,000 15,000 17,600 16,000
Close* 2,700 11,000 15,000 17,600 16,000
PER (X) 10.22 27.91 30.96 28.84 26.22

PER Industry (X) 19.08 15.42 22.13 12.43 12.79
PBV (X) -4.08 -41.08 -241.68 46.43 42.21

Receivables 66,273 73,574 62,932 109,381 76,026

462,013 519,601 723,809 955,231 1,007,811 5,000
Inventories
Current Assets 1,567,335 1,744,220 1,703,067 2,117,507 2,272,941
3,750
Fixed Assets 622,891 694,005 727,186 725,954 876,566
Other Assets 15,796 21,908 28,268 24,577 153,172
2,500
Total Assets 2,422,472 2,929,752 2,936,882 3,408,372 3,889,291
Growth (%) 20.94% 0.24% 16.05% 14.11% 1,250

Long Term Liabilities 3,416,580 2,691,079 1,828,073 712,261 344,110 2011 2012 2013 2014 2015
Growth (%) -5.14% -23.51% -13.11% -13.86%
Paid up Capital 386,794 386,794 386,794 386,794 386,794 1,106

178
Par Value 5,000 & 350 & 100 5,000 & 350 & 100 5,000 & 350 & 100 5,000 & 350 & 100 5,000 & 350 & 100
344
2011 2012 2013

-417
2014 2015
Total Equity -2,702,413 -1,931,532 -781,372 177,590 1,106,167
Growth (%) 28.53% 59.55% N/A 522.88% -1,179 -781
INCOME STATEMENTS Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 -1,941
Total Revenues 4,700,712 5,616,932 6,754,326 7,925,547 9,006,893 -1,932
Growth (%) 19.49% 20.25% 17.34% 13.64%

-2,702
-2,702
Cost of Revenues 1,595,216 1,910,789 2,391,274 2,877,507 3,335,638

Gross Profit 3,105,496 3,706,143 4,363,052 5,048,040 5,671,255
Expenses (Income) 1,864,195 2,121,792 2,548,184 2,964,128 3,333,607
Growth (%) 27.64% 14.55% 14.82% 12.18% 7,926

9,007
7,169
6,754
Other Income (Expenses) -505,707 -425,356 -291,246 -233,368 -92,827 5,617
Income before Tax 735,594 1,158,995 1,523,622 1,850,544 2,244,821 5,332 4,701
Tax 269,946 388,114 373,462 431,426 463,973
Profit for the period 465,648 770,881 1,150,160 1,419,118 1,780,848 3,495
Growth (%) 65.55% 49.20% 23.38% 25.49%

1,657
Period Attributable 465,648 770,881 1,150,160 1,419,118 1,780,848 -180
Comprehensive Income 465,648 770,881 1,150,160 1,419,118 1,798,352 2011 2012 2013 2014 2015
Comprehensive Attributable 465,648 770,881 1,150,160 1,419,118 1,798,352
Current Ratio (%) 91.75 80.37 90.10 84.08 93.19
1,781
Dividend (Rp) - - 157.70 - -
EPS (Rp) 159.58 264.19 394.17 486.35 610.31 1,419
BV (Rp) -926.14 -661.96 -267.78 60.86 379.09 1,418
1,150
DAR (X) 2.12 1.66 1.27 0.95 0.72
-1.90 -2.52 -4.76 18.19 2.52
1,054
DER(X) 771
ROA (%) 19.22 26.31 39.16 41.64 45.79
466
691
ROE (%) -17.23 -39.91 -147.20 799.10 160.99

GPM (%) 66.06 65.98 64.60 63.69 62.97 328
OPM (%) 26.41 28.21 26.87 26.29 25.95

NPM (%) 9.91 13.72 17.03 17.91 19.77
-36
2011 2012 2013 2014 2015

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

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
LSIP
PP LONDON SUMATRA INDONESIA TBK.
Company Profile
PT Perusahaan Perkebunan London Sumatra Indonesia Tbk. was established December
18th, 1962. The Company commenced its commercial operations in 1963 and engaged in
the plantation business located in North Sumatera, South Sumatera, Java, East Kalimantan,
North Sulawesi, and South Sulawesi with a total planted area of 110,656 hectares as of
September 30th, 2014. The main products are crude palm oil and rubber, and small
quantities of cocoa, tea and seeds.

The Company is domiciled in Jakarta with operational branch offices located in Medan,
Palembang, Makassar, Surabaya and Samarinda. The Company’s registered office address
is at Prudential Tower 15th Fl., Jln. Jend. Sudirman Kav. 79, Jakarta.

Lonsum’s 38 inti estates (Company owned) and 14 plasma estates (smallholder farmer),
which are currently operational in Sumatra, Java, Kalimantan and Sulawesi, make use of
advanced research and development as well as agro‐management expertise and a highly
skilled and an experienced workforce. The scope of the business has broadened to include
plant breeding, planting, harvesting, milling, processing and the selling of palm products,
rubber, cocoa and tea. The Company now has 20 factories which are operational in
Sumatra, Java and Sulawesi. Lonsum is known in the industry for the quality of its oil palm
an cocoa seeds, and this high‐tech business is now a major growth driver for the Company.

In addition to the development of its own plantations, the Company is developing
plantations on behalf of local smallholders (plasma plantations) in line with the “nucleus‐
plasma” plantation scheme that was selected when the Company expanded its plantations.

PT Salim Ivomas Pratama Tbk. (SIMP) and First Pacific Company Limited, Hong Kong, are
the parent company and the ultimate parent company of the Group. As of December 31st,
2015, the Group has a total of 15,336 permanent employees.

The subsidiaries controlled by the Company either directly or indirectly are as follows:
 PT Multi Agro Kencana Prima,
 Lonsum Singapore Pte. Ltd.,
 PT Tani Musi Persada,
 PT Sumatra Agri Sejahtera,
 PT Tani Andalas Sejahtera,
 Agri Investments Pte., Ltd.,
 PT Wushan Hijau Lestari, and
 Sumatera Bioscience Pte. Ltd. Singapore.
February 2016
Disclaimer:

LSIP PP London Sumatra Indonesia Tbk. [S]
74 | 9.72T | 0.20% | 82.93%
44 | 8.56T | 0.62% | 75.42%

Established Date : 18-Dec-1962 1. PT Salim Ivomas Pratama 4,058,425,010 : 59.48%
Under Writer IPO :
F/I
Plaza Central Building 2nd Fl. 1996 10 : 14 23-Jul-97 24-Jul-97 01-Aug-97 25-Aug-97 B
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1996 110.00 23-Jul-97 24-Jul-97 01-Aug-97 25-Aug-97 F
2008 208.00 26-May-09 27-May-09 29-May-09 05-Jun-09 F
1. Moleonoto (Paulus Moleonoto) 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. Hendra Widjaja 2013 46.00 16-Jun-14 17-Jun-14 19-Jun-14 03-Jul-14 F
5. Monang Silalahi *) 2014 53.00 12-May-15 13-May-15 18-May-15 05-Jun-15 F
6. Werianty Setiawan
Listing Trading
1. Benny (Benny Tjoeng) 1. First Issue 38,800,000 05-Jul-96 05-Jul-96
2. Joefly Joesoef Bahroeny 2. Company Listing 163,538,872 05-Jul-96 05-Jul-96
3. Mark Julian Wakeford 3. Bonus Shares 283,274,421 26-Aug-97 26-Aug-97
4. Tan Agustinus Dermawan 4. Additional Listing without RI 280,096,500 24-Jun-04 24-Jun-04
5. Tio Eddy Hariyanto 5. Mandatory Convertible Note Conversion 329,519,500 22-Sep-04 22-Sep-04
6. Mandatory Convertible Note Conversion 269,343,500 02-Nov-07 02-Nov-07
AUDIT COMMITTEE 7. Stock Splits 5,458,291,172 25-Feb-11 25-Feb-11
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 : endah.resmiati@londonsumatra.com

TRADING ACTIVITIES
PP London Sumatra Indonesia Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
3,200 160 Jan-12 2,500 2,175 2,425 11,452 198,053 474,007 21
Feb-12 2,825 2,425 2,650 14,768 308,800 813,243 21
2,800 140 Mar-12 3,000 2,600 2,875 16,140 255,649 715,984 21
Apr-12 3,150 2,775 2,925 13,819 275,157 807,841 20
May-12 2,925 2,275 2,400 17,778 343,268 870,742 21
2,400 120
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
2,000 100
Aug-12 2,925 2,400 2,400 15,952 412,381 1,090,181 19
Sep-12 2,600 2,325 2,450 16,586 456,401 1,129,082 20
1,600 80
Oct-12 2,450 2,250 2,325 14,768 375,878 876,755 22
Nov-12 2,450 1,840 1,870 13,104 264,249 577,970 20
1,200 60 Dec-12 2,325 1,830 2,300 16,652 334,739 679,771 18
800 40 Jan-13 2,525 2,150 2,200 17,678 323,112 747,259 21

Feb-13 2,325 2,025 2,075 14,561 260,360 572,168 20
400 20 Mar-13 2,125 1,810 1,930 22,788 292,084 572,071 19
Apr-13 1,930 1,520 1,520 18,150 267,715 477,137 22
May-13 1,940 1,490 1,920 24,889 393,131 672,303 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
Aug-13 1,500 960 1,490 41,005 883,004 1,082,001 17
Sep-13 1,670 1,260 1,270 42,086 794,744 1,163,598 21
Agriculture Index Nov-13 1,870 1,600 1,840 26,145 553,262 971,603 20
125%
Jan-14 1,980 1,470 1,655 72,532 1,054,575 1,738,764 20
100% Feb-14 2,110 1,625 2,070 50,243 849,896 1,599,785 20
Mar-14 2,400 2,020 2,210 69,302 901,196 2,009,766 20
75% 79.2% Apr-14 2,480 2,120 2,450 56,810 770,823 1,800,557 20
May-14 2,465 2,185 2,310 43,233 459,812 1,076,352 18
50% Jun-14 2,400 2,175 2,315 40,198 381,878 874,975 21
Jul-14 2,315 1,995 2,100 55,975 494,979 1,073,280 18
Aug-14 2,150 1,855 1,870 67,017 593,511 1,193,758 20
25%
Sep-14 1,930 1,715 1,900 61,978 713,775 1,330,095 22
Oct-14 1,980 1,735 1,945 54,897 498,181 933,410 23
-
-3.5% Nov-14 2,060 1,865 1,985 44,540 492,111 968,338 20
-16.2% Dec-14 2,040 1,845 1,890 40,505 355,184 689,206 20
-25%
Jan-15 2,070 1,805 1,840 45,212 435,491 844,838 21

-50% Feb-15 1,960 1,775 1,880 49,958 515,066 963,712 19
Mar-15 1,945 1,640 1,730 47,115 523,934 963,618 22
-75% Apr-15 1,745 1,370 1,425 50,810 534,502 841,066 21
Jun-15 1,780 1,515 1,555 34,739 346,699 577,961 21
Jul-15 1,685 1,315 1,355 30,607 291,516 453,815 19
SHARES TRADED 2012 2013 2014 2015 Jan-16 Aug-15 1,425 910 1,080 36,766 333,486 390,385 20
Days 246 244 242 244 20 Dec-15 1,415 1,220 1,320 32,836 350,465 464,155 19
Price (Rupiah) Jan-16 1,480 1,210 1,425 31,138 331,930 434,693 20

High 3,150 2,525 2,480 2,070 1,480
Low 1,830 960 1,470 910 1,210
Close 2,300 1,930 1,890 1,320 1,425
Close* 2,300 1,930 1,890 1,320 1,425
PER (X) 13.98 17.11 13.84 14.38 15.52

PER Industry (X) 33.17 15.46 19.34 1.32 0.57
PBV (X) 2.50 1.99 1.84 1.26 1.36

Cash & Cash Equivalents 2,063,982 1,799,137 1,401,395 1,356,532 737,114 10,000
Receivables 112,071 52,132 116,796 84,586 112,289

368,244 645,954 374,485 380,360 398,426 8,000
Inventories
Current Assets 2,567,657 2,593,816 1,999,126 1,863,506 1,268,557
6,000
Fixed Assets 1,824,630 2,229,928 2,776,825 3,238,752 3,427,971
Other Assets 87,691 61,331 63,000 127,552 239,021
4,000
Total Assets 6,791,859 7,551,796 7,974,876 8,655,146 8,848,792
Growth (%) 11.19% 5.60% 8.53% 2.24% 2,000
Current Liabilities 531,326 792,482 804,428 748,076 571,162 -

Long Term Liabilities 421,109 479,601 556,461 688,236 939,652 2011 2012 2013 2014 2015
Total Liabilities 952,435 1,272,083 1,360,889 1,436,312 1,510,814
Growth (%) 33.56% 6.98% 5.54% 5.19%
7,219
Paid up Capital 682,286 682,286 682,286 682,286 682,286 6,614
6,280
Par Value 100 100 100 100 100
5,841

4,344
Total Equity 5,839,424 6,279,713 6,613,987 7,218,834 7,337,978

Growth (%) 7.54% 5.32% 9.14% 1.65% 2,847
Total Revenues 4,686,457 4,211,578 4,133,679 4,726,539 4,189,615

Growth (%) -10.13% -1.85% 14.34% -11.36%
-147
2011 2012 2013 2014 2015
Cost of Revenues 2,324,138 2,530,503 2,880,220 3,090,100 3,073,774

Gross Profit 2,362,319 1,681,075 1,253,459 1,636,439 1,115,841
Expenses (Income) 356,795 357,102 227,810 395,917 279,935
Operating Profit 2,005,524 1,323,973 1,025,649 1,240,522 835,906 4,686 4,727
-33.98% -22.53% 20.95% -32.62% 4,212 4,134 4,190

4,727
Growth (%)
3,762
Other Income (Expenses) 84,989 48,110 -28,658 -51,591 -8,024

Income before Tax 2,090,513 1,372,083 996,991 1,188,931 827,882 2,798
Tax 389,000 256,544 228,366 272,236 204,573

Profit for the period 1,701,513 1,115,539 768,625 916,695 623,309 1,834
Growth (%) -34.44% -31.10% 19.26% -32.00%

870
Period Attributable 1,701,580 1,116,186 769,493 916,704 623,312 -95
Comprehensive Income 1,701,513 1,122,575 788,003 918,566 689,704 2011 2012 2013 2014 2015
Comprehensive Attributable 1,701,580 1,123,222 788,871 918,575 689,707
Current Ratio (%) 483.25 327.30 248.52 249.11 222.10
1,702
Dividend (Rp) 100.00 66.00 46.00 53.00 - 1,702
EPS (Rp) 249.39 163.60 112.78 134.36 91.36

BV (Rp) 855.86 920.39 969.39 1,058.04 1,075.50 1,354
1,116
DAR (X) 0.14 0.17 0.17 0.17 0.17 917
0.16 0.20 0.21 0.20 0.21
1,007
DER(X) 769
25.05 14.77 9.64 10.59 7.04 623
ROA (%) 660
ROE (%) 29.14 17.76 11.62 12.70 8.49

GPM (%) 50.41 39.92 30.32 34.62 26.63 313
OPM (%) 42.79 31.44 24.81 26.25 19.95

NPM (%) 36.31 26.49 18.59 19.39 14.88
-34
2011 2012 2013 2014 2015

Payout Ratio (%) 40.10 40.34 40.79 39.45 -
Yield (%) 4.44 2.87 2.38 2.80 -

COMPANY REPORT
MNCN
MEDIA NUSANTARA CITRA TBK.
Company Profile

PT Media Nusantara Citra Tbk. has core businesses in content and the ownership and
operations of 3 out of the 10 national Free‐To‐Air televisions in Indonesia. MNC have 3
Free‐To‐Air (FTA) TVs ‐ RCTI, MNCTV and GlobalTV ‐ as well as 16 channels created and
produced by MNC that is broadcasted on Pay‐TV. Currently, MNC also have other media
based business that supports the core businesses of MNC. Those businesses consist of
radio, print media, talent management, and a production house. MNC was established on
June 17, 1997.

The scope of Company's activities is to engage in general trading, construction, industrial,
agricultural, transportation, printing, multimedia through satellite and other
telecommunications peripheral, services and investments.

The Company is part of Mediacom Group. The Company has ownership in the following
subsidiaries:
Broadcasting :
1. PT Rajawali Citra Televisi Indonesia (RCTI)
2. PT Global Informasi Bermutu
3. PT Cipta Televisi Pendidikan Indonesia (CTPI)
4. PT Sun Televisi Network (STN) and subsidiaries
5. PT MNC Networks (MNCN) and subsidiaries
Print and online :
1. PT Media Nusantara Informasi and subsidiary
2. PT MNI Global
3. PT MNI Publishing and its subsidiary
4. PT Okezone Indonesia (Okezone)
Advertising agency :
1. PT Cross Media Internasional (CMI) and subsidiaries
Content production :
1. PT MNC Pictures
2. MNC International Middle East Ltd.
Talent management and others:
1. PT Star Media Nusantara
2. PT MNC Lisensi International

The Company started its commercial operations in December 2001. The Company and its
subsidiaries have a total of 7,042 employees as of September 30th, 2015.
February 2016
Disclaimer:

MNCN Media Nusantara Citra Tbk. [S]
Industry Sub Sector : Advertising, Printing And Media (95) Market Capitalization : 16,988,545,315,000
44 | 17.0T | 0.35% | 75.14%
48 | 7.85T | 0.57% | 77.82%

Established Date : 17-Jun-1997 1. PT Global Mediacom Tbk. 9,043,379,770 : 63.35%
Listing Date : 22-Jun-2007 2. Public (<5%) 5,232,708,730 : 36.65%
Under Writer IPO :
PT Bhakti Securities DIVIDEND ANNOUNCEMENT
PT Danareksa Sekuritas Bonus Cash Recording Payment
F/I
PT BSR Indonesia 2007 5.00 01-Dec-08 02-Dec-08 04-Dec-08 19-Dec-08 F
Komplek Perkantoran ITC Roxy Mas Blok E1 No. 10-11 2009 5.00 02-Oct-09 05-Oct-09 07-Oct-09 21-Oct-09 I
Jln. K.H. Hasyim Ashari Jakarta 10150 2009 7.00 29-Nov-10 30-Nov-10 02-Dec-10 17-Dec-10 F
Phone : (021) 631-7828 2010 15.00 29-Nov-11 30-Nov-11 02-Dec-11 16-Dec-11 F
2012 55.00 06-Sep-13 09-Sep-13 11-Sep-13 25-Sep-13 F
BOARD OF COMMISSIONERS 2013 25.00 24-Dec-13 27-Dec-13 02-Jan-14 16-Jan-14 I
1. Rosano Barack 2013 35.00 14-Oct-14 15-Oct-14 17-Oct-14 31-Oct-14 F
2. Adam Chesnoff 2014 63.00 27-May-15 28-May-15 01-Jun-15 17-Jun-15 F
3. Bambang Rudijanto Tanoesoedibjo
4. Irman Gusman *) ISSUED HISTORY
5. Sutanto *) Listing Trading
*) Independent Commissioners No. Type of Listing Shares Date Date
1. First Issue 4,125,000,000 22-Jun-07 22-Jun-07
BOARD OF DIRECTORS 2. Company Listing 9,625,000,000 T: 22-Jun-07 : 22-Feb-08
1. Hary Tanoesoedibjo 3. EMSOP Conversion II 23,504,500 T: 29-Nov-10 : 06-Jan-11
2. Arya Mahendra Sinulingga 4. EMSOP Conversion II & III 52,960,500 T: 17-Feb-11 : 19-Jul-11
3. Charlie Kasim 5. EMSOP Conversion II, III & IV 37,076,500 T: 26-Jul-11 : 21-May-12
4. Diana Airin 6. EMSOP Conversion III & IV 3,988,000 04-Aug-11 04-Aug-11
5. Ella Kartika 7. EMSOP Conversion II, III, IV & V 79,965,500 T: 23-May-12 : 15-Jun-12
6. Faisal Dharma Setiawan 8. ESOP/MSOP Conversion II, III, IV & V 8,114,000 T: 22-Oct-12 : 19-Nov-12
7. Gwenarty Setiadi 9. ESOP/MSOP Conversion III, IV & V 517,500 T: 29-Oct-12 : 01-Nov-12
8. Kanti Mirdiati Imansyah 10. ESOP/MSOP Conversion III, IV, V & VI 143,344,500 T: 29-May-13 : 27-Nov-13
11. Revision ESOP/MSOP III, IV, V & VI -8,000 24-Jun-13 24-Jun-13
AUDIT COMMITTEE 12. ESOP/MSOP Conversion V & VI 176,625,500 T: 28-May-14 : 19-Nov-14
1. Sutanto
2. Hery Kusnanto
3. John Aristianto Prasetio
4. Mohamed Idwan Ganie
CORPORATE SECRETARY
I Made Ray Karuna Wijaya
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 : ray.wijaya@mncgroup.com

TRADING ACTIVITIES
Media Nusantara Citra Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
3,800 400 Jan-12 1,400 1,270 1,350 31,240 804,498 1,057,519 21
Feb-12 1,670 1,350 1,670 39,530 805,338 1,203,976 21
3,325 350 Mar-12 1,980 1,640 1,880 58,505 1,174,895 2,121,799 21
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
2,850 300
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
2,375 250
Aug-12 2,350 2,050 2,125 15,701 279,093 617,221 19
Sep-12 2,600 2,100 2,600 22,091 414,742 969,614 20
1,900 200
Oct-12 2,875 2,575 2,825 30,045 412,681 1,129,092 22
Nov-12 2,825 2,300 2,675 46,576 863,864 2,162,569 20
1,425 150 Dec-12 2,750 2,350 2,500 23,808 439,992 1,130,358 18
950 100 Jan-13 2,650 2,275 2,375 34,386 642,003 1,559,472 21

Feb-13 2,975 2,300 2,950 26,895 380,307 980,432 20
475 50 Mar-13 3,275 2,750 2,825 30,497 358,184 1,053,598 19
Apr-13 3,275 2,850 3,125 25,671 1,047,479 2,498,012 22
May-13 3,675 3,025 3,350 40,792 827,156 2,754,723 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
Aug-13 3,375 2,350 2,950 40,251 459,397 1,292,266 17
Sep-13 3,375 2,700 2,700 37,027 594,473 1,829,040 21
Trade, Sevices and Investment Index Nov-13 2,725 2,325 2,675 39,727 547,552 1,370,696 20
175%
Jan-14 2,650 2,180 2,235 58,448 341,933 821,125 20
150% Feb-14 2,535 2,200 2,535 46,230 333,935 789,549 20
Mar-14 2,850 2,470 2,630 49,623 301,730 791,129 20
125% Apr-14 2,940 2,600 2,715 44,177 294,985 809,448 20
May-14 2,830 2,585 2,830 32,371 190,004 514,792 18
100% Jun-14 2,900 2,605 2,760 30,902 153,671 427,351 21
Jul-14 2,800 2,550 2,615 41,980 222,941 590,045 18
Aug-14 2,980 2,640 2,805 40,202 189,092 537,696 20
75%
Sep-14 3,230 2,650 3,195 41,293 189,308 558,581 22
Oct-14 3,200 2,690 2,800 56,669 171,058 499,114 23
50%
Nov-14 2,820 2,265 2,405 64,961 382,816 934,593 20
33.4% Dec-14 2,555 2,180 2,540 60,432 309,297 746,815 20
25%
18.1%
Jan-15 2,905 2,460 2,860 58,171 413,394 1,160,725 21
- Feb-15 3,150 2,800 3,150 88,106 421,290 1,283,964 19
-13.8% Mar-15 3,160 2,725 2,865 75,423 367,509 1,087,081 22
-25% Apr-15 2,880 2,200 2,205 65,901 462,054 1,284,744 21
Jun-15 2,180 1,815 1,940 58,576 275,467 547,239 21
Jul-15 2,125 1,830 2,045 43,492 245,312 484,833 19
Days 246 244 242 244 20 Dec-15 1,925 1,635 1,855 36,738 153,831 273,103 19
Price (Rupiah) Jan-16 1,870 1,185 1,190 56,486 529,219 764,824 20

High 2,875 3,675 3,230 3,160 1,870
Low 1,270 2,275 2,180 1,410 1,185
Close 2,500 2,625 2,540 1,855 1,190
Close* 2,500 2,625 2,540 1,855 1,190
PER (X) 19.59 26.86 19.58 30.58 19.62

PER Industry (X) 19.08 15.42 22.13 12.43 12.79
PBV (X) 4.78 4.78 4.14 2.90 1.86

Cash & Cash Equivalents 837,230 528,415 574,761 1,132,001 606,788 15,000
Receivables 2,558,400 2,615,430 3,062,803 3,215,473 3,533,774

894,311 1,139,486 1,332,726 1,634,832 1,729,527 12,000
Inventories
Current Assets 6,018,612 6,766,799 6,811,828 8,670,175 8,257,479
9,000
Fixed Assets 971,773 985,995 1,542,677 2,659,203 3,806,545
Other Assets 119,761 38,494 56,382 530,609 168,072
6,000
Total Assets 8,798,230 8,960,942 9,615,280 13,609,033 14,453,838
Growth (%) 1.85% 7.30% 41.54% 6.21% 3,000
Current Liabilities 1,227,364 1,250,225 1,606,491 892,276 1,274,943 -

Long Term Liabilities 736,363 413,555 265,215 3,323,544 4,060,122 2011 2012 2013 2014 Sep-15
Growth (%) -15.27% 12.50% 125.24% 26.55%
Authorized Capital 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 9,393 9,119
Paid up Capital 4,000,000 1,395,613 1,409,946 1,427,609 1,427,609 9,393

7,297
6,835
Par Value 100 100 100 100 100
7,477

5,561
Total Equity 6,834,503 7,297,162 7,743,574 9,393,213 9,118,773

Growth (%) 6.77% 6.12% 21.30% -2.92% 3,645
Total Revenues 5,390,474 6,265,260 6,522,347 6,665,978 5,030,962

Growth (%) 16.23% 4.10% 2.20%
-188
2011 2012 2013 2014 Sep-15
Cost of Revenues 2,617,157 2,856,657 2,850,657 2,813,381 2,168,226

Gross Profit 2,773,317 3,408,603 2,850,657 3,852,597 2,862,736
Expenses (Income) 1,262,793 1,147,895 1,278,161 1,308,818 1,629,248
6,265
Growth (%)
6,666
5,390
5,306
5,031
Tax 385,353 497,689 583,687 660,347 491,852

Profit for the period 1,125,171 1,763,019 1,809,842 1,883,432 741,636 2,586
Growth (%) 56.69% 2.66% 4.07%

1,227
Period Attributable 1,070,203 1,657,087 1,691,172 1,761,994 649,447 -133
Comprehensive Income 1,153,383 1,781,284 1,791,090 1,850,941 739,567 2011 2012 2013 2014 Sep-15
Comprehensive Attributable 1,098,415 1,675,352 1,672,420 1,729,503 647,378
Current Ratio (%) 490.37 541.25 424.02 971.69 647.67
1,883
1,763 1,810
Dividend (Rp) 35.00 55.00 60.00 63.00 - 1,883
EPS (Rp) 26.76 118.74 119.95 123.42 45.49

BV (Rp) 170.86 522.86 549.21 657.97 638.74 1,499
DAR (X) 0.22 0.19 0.19 0.31 0.37 1,125
0.29 0.23 0.24 0.45 0.59

1,115
DER(X)
742
ROA (%) 12.79 19.67 18.82 13.84 5.13 731
ROE (%) 16.46 24.16 23.37 20.05 8.13

GPM (%) 51.45 54.40 43.71 57.79 56.90 347
OPM (%) - - - - -
NPM (%) 20.87 28.14 27.75 28.25 14.74
-38
2011 2012 2013 2014 Sep-15

Payout Ratio (%) 130.82 46.32 50.02 51.04 -
Yield (%) 2.67 2.20 2.29 2.48 -

COMPANY REPORT
MPPA
MATAHARI PUTRA PRIMA TBK.
Company Profile

PT Matahari Putra Prima Tbk. was established on March 11th, 1986. The Company operates
a chain of stores which sell such items as daily needs.

The Company is domiciled at Menara Matahari 20th Floor, Boulevard Palem Raya No. 7,
Lippo Karawaci ‐ Tangerang, Banten. The Company started commercial operations in 1986.

The Company has a Subsidiary, PT Matahari Super Ekonomi which started its commercial
operation in 1994 and engaged in retail, with ownership of 99.2%. The Company operates
Hypermart, Foodmart and Boston Health & Beauty stores in 267 locations in Jakarta and
other cities in Indonesia. The Immediate Parent Company is PT Multipolar Tbk., which is
the Company’s major shareholder. The Ultimate Parent of the Company is Lanius Limited.

The Company has approximately 13,169 employees as at Deptember 30th, 2015.
February 2016
Disclaimer:

MPPA Matahari Putra Prima Tbk. [S]
Industry Sub Sector : Retail Trade (93) Market Capitalization : 8,981,197,876,000
82 | 8.98T | 0.18% | 84.45%
38 | 10.5T | 0.76% | 71.28%

Established Date : 11-Mar-1986 1. DBS Bank Ltd. S/A PT Multipolar Tbk. 2,701,391,108 : 50.23%
Listing Date : 21-Dec-1992 2. DBS Bank Ltd. Sa Prime Star Inv. 1,402,947,000 : 26.09%
PT Jardine Fleming Nusantara
PT Lippo Securities DIVIDEND ANNOUNCEMENT
F/I
PT Sharestar Indonesia Year Shares Dividend Cum Date Ex Date Date Date
Berita Satu Plasa 7th Fl. 1993 1:2 100.00 06-Jun-94 07-Jun-94 14-Jun-94 14-Jul-94 F
Jln. Jend. Gatot Subroto Kav. 35-36, Jakarta 12950 1994 35.00 27-Jun-95 28-Jun-95 06-Jul-95 04-Aug-95 F
1999 16.50 28-Jul-00 31-Jul-00 08-Aug-00 23-Aug-00 F
1. John Bellis 2001 11.00 19-Apr-02 22-Apr-02 25-Apr-02 08-May-02 F
2. Chua Siang Hwee, Jeffrey *) 2002 12.00 10-Jun-03 11-Jun-03 13-Jun-03 27-Jun-03 F
3. Johanes Jany 2003 13.00 14-Jun-04 15-Jun-04 17-Jun-04 01-Jul-04 F
4. John Riady 2005 14.00 14-Jun-05 15-Jun-05 17-Jun-05 01-Jul-05
5. Niel Nielson *) 2005 25.00 25-Apr-06 26-Apr-06 28-Apr-06 12-May-06 F
6. Theo L. Sambuaga 2006 10.40 22-May-07 23-May-07 25-May-07 08-Jun-07 I
7. William Travis Saucer *) 2007 11.50 15-Apr-08 16-Apr-08 18-Apr-08 05-May-08 I
2010 180.00 23-Dec-10 27-Dec-10 29-Dec-10 10-Jan-11 I
BOARD OF DIRECTORS 2010 300.00 07-Mar-11 08-Mar-11 10-Mar-11 22-Mar-11 F
1. Bunjamin Jonatan Mailool 2011 6.00 30-Apr-12 01-May-12 03-May-12 16-May-12 F
2. Carmelito Jimenez Regalado 2012 186.00 15-May-13 16-May-13 20-May-13 29-May-13 F
3. Ishak Kurniawan 2013 186.00 05-May-14 06-May-14 08-May-14 19-May-14 F
4. Lina Haryanti Latif 2014 36.00 21-May-15 22-May-15 26-May-15 17-Jun-15 F
5. Noel Trinder 2015 7.00 01-Dec-15 02-Dec-15 04-Dec-15 23-Dec-15 I
AUDIT COMMITTEE ISSUED HISTORY

1. William Travis Saucer Listing Trading
2. Ganesh Chander Grover No. Type of Listing Shares Date Date
3. Utomo Santoso 1. First Issue 8,700,000 21-Dec-92 21-Dec-92
2. Company Listing 33,366,320 21-Dec-92 21-Dec-92
CORPORATE SECRETARY 3. CB Conversion 8,051,274 T: 19-Jul-93 : 17-Oct-94
Danny Kojongian 4. Bonus Shares 100,215,406 15-Jul-94 15-Jul-94
5. Right Issue 4,110,590,000 T: 30-Jun-95 : 16-Feb-07
HEAD OFFICE 6. Stock Split 450,999,000 15-Sep-97 15-Sep-97
Menara Matahari 17th Fl. 7. Warrant 864,624,800 T: 24-Sep-09 : 15-Jul-10
Jln. Boulevard Palem Raya 7, 8. Delisted Treasury Stock -198,584,000 23-Jul-13 23-Jul-13
Lippo Karawaci 1200, Tangerang 15811
Phone : (021) 546-9333, 547-5333, 5478
Fax : (021) 547-5229, 547-5673
Homepage : www.hypermart.co.id
Email : danny.kojongian@hypermart.co.id

TRADING ACTIVITIES
Matahari Putra Prima Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
4,600 640 Jan-12 960 910 920 1,374 20,571 19,147 21
Feb-12 970 910 930 4,901 30,362 28,385 21
4,025 560 Mar-12 950 840 880 4,960 33,299 30,280 21
Apr-12 940 870 940 1,563 15,097 13,696 20
May-12 970 850 940 2,035 29,919 27,779 21
3,450 480
Jun-12 960 890 960 2,133 54,947 50,794 21
Jul-12 1,120 960 1,020 3,982 31,578 33,311 22
2,875 400
Aug-12 1,330 910 1,290 11,930 182,567 209,632 19
Sep-12 1,630 1,280 1,500 11,229 142,859 210,894 20
2,300 320
Oct-12 1,600 1,460 1,510 5,137 79,736 122,065 22
Nov-12 1,600 950 1,330 9,938 109,812 155,895 19
1,725 240 Dec-12 1,330 1,040 1,150 5,601 56,270 66,849 18
1,150 160 Jan-13 1,330 1,080 1,220 8,016 95,364 113,111 21

Feb-13 1,900 1,230 1,780 17,145 2,238,349 4,178,771 20
575 80 Mar-13 1,950 1,690 1,820 6,263 1,201,762 2,384,897 19
Apr-13 2,025 1,600 1,990 9,290 162,030 296,089 22
May-13 2,525 1,760 2,425 14,479 632,628 1,325,297 22
Jun-13 3,150 2,225 2,925 19,045 356,820 967,543 19
Jul-13 3,000 1,980 2,425 19,628 441,101 1,123,951 23
Aug-13 2,525 1,800 2,150 8,660 278,973 633,042 17
Sep-13 2,225 1,800 2,050 10,914 291,423 591,414 21
385%
Jan-14 2,020 1,720 2,005 15,355 1,067,464 2,017,903 20
330% Feb-14 2,225 2,000 2,165 13,543 953,123 2,018,158 20
Mar-14 2,755 2,100 2,685 22,424 1,005,504 2,388,968 20
275% Apr-14 3,025 2,450 2,770 21,586 637,742 1,782,415 20
May-14 3,100 2,465 3,100 19,245 822,381 2,317,655 18
220% Jun-14 3,385 2,850 3,125 15,931 770,793 2,451,819 21
Jul-14 3,500 2,675 2,945 19,715 698,384 2,093,143 18
Aug-14 3,145 2,650 3,080 25,031 675,132 2,008,343 20
165%
Sep-14 3,500 3,005 3,150 24,841 1,183,344 3,816,651 22
Oct-14 3,345 2,650 3,145 39,355 1,012,928 3,059,473 23
110%
Nov-14 3,375 2,980 3,265 35,027 505,329 1,603,980 20
79.6% Dec-14 3,665 3,050 3,050 30,107 457,043 1,547,231 20
55%
33.4%
18.1% Jan-15 3,985 2,825 3,800 52,197 965,027 3,152,305 21
- Feb-15 4,500 3,560 4,180 42,901 733,820 3,000,209 19
Mar-15 4,500 3,875 3,960 65,140 960,099 4,008,062 22
-55% Apr-15 4,190 3,620 3,960 48,681 152,376 590,738 21
Jun-15 3,750 2,950 2,950 41,366 97,328 323,499 21
Jul-15 3,135 2,700 2,900 46,401 100,334 295,593 19
Volume (Million Sh.) 787 7,158 9,789 3,867 155 Sep-15 2,450 1,825 1,920 22,446 68,227 150,491 21
Value (Billion Rp) 969 14,783 27,106 13,339 266 Oct-15 2,750 1,935 2,245 43,874 236,463 568,523 21
Days 245 244 242 244 20 Dec-15 1,955 1,530 1,825 37,179 171,643 300,349 19
Price (Rupiah) Jan-16 1,945 1,595 1,670 30,441 155,300 265,824 20

High 1,630 3,150 3,665 4,500 1,945
Low 840 1,080 1,720 1,530 1,595
Close 1,150 1,940 3,050 1,825 1,670
Close* 1,150 1,940 3,050 1,825 1,670
PER (X) 26.89 23.45 34.76 53.63 49.08

PER Industry (X) 19.08 15.42 22.13 12.43 12.79
PBV (X) 1.67 3.17 6.19 3.54 3.24

Cash & Cash Equivalents 1,403,075 1,361,736 1,302,610 747,710 408,945 11,250
Receivables 257,596 43,338 414,042 383,264 673,879

1,266,120 1,670,574 2,273,548 2,655,023 2,758,970 9,000
Inventories
Current Assets 3,618,563 5,084,740 4,167,989 3,904,064 3,971,189
6,750
Fixed Assets 1,643,505 775,125 1,086,757 1,272,601 1,461,743
Other Assets 310,902 126,162 183,642 175,619 175,783
4,500
Total Assets 10,308,169 8,225,206 6,579,518 5,827,294 6,294,210
Growth (%) -20.21% -20.01% -11.43% 8.01% 2,250

Long Term Liabilities 1,664,288 1,663,526 247,118 228,978 703,907 2011 2012 2013 2014 Dec-15
Growth (%) -5.30% -25.00% -9.31% 18.13%
Authorized Capital 5,400,000 540,000 540,000 540,000 540,000 5,683
Paid up Capital 2,788,273 278,827 268,898 268,898 268,898
Par Value 500 50 50 50 50 3,846
4,524

3,365
2,849 2,776
Total Equity 5,683,448 3,845,754 3,294,970 2,848,686 2,775,594
Growth (%) -32.33% -14.32% -13.54% -2.57% 2,205
Total Revenues 8,908,611 10,868,164 11,912,763 13,590,405 13,928,859

Growth (%) 22.00% 9.61% 14.08% 2.49%
-114
2011 2012 2013 2014 Dec-15
Cost of Revenues 7,351,010 8,970,603 10,023,943 11,235,948 11,572,378

Gross Profit 1,557,601 1,897,561 1,888,820 2,354,457 2,356,481
Expenses (Income) 1,393,229 1,555,054 1,300,345 1,642,796 2,087,857
Operating Profit - 342,507 588,475 711,661 268,624 13,590 13,929
Growth (%) 71.81% 20.93% -62.25% 11,913

13,590
10,868
10,818
Other Income (Expenses) - -44,418 -3,454 19,177 -35,578 8,909
Income before Tax 164,372 298,089 585,021 730,838 233,046 8,046
Tax 44,073 58,611 140,116 176,821 50,047

Profit for the period 120,299 239,478 444,905 554,017 182,999 5,273
Growth (%) 99.07% 85.78% 24.52% -66.97%

2,501
Comprehensive Income 120,301 238,448 444,905 554,017 178,334 2011 2012 2013 2014 Dec-15
Current Ratio (%) 122.23 187.22 137.22 141.99 141.09
554
Dividend (Rp) 6.00 186.00 186.00 36.00 7.00 554
EPS (Rp) 18.84 39.55 82.73 103.02 34.03 445

BV (Rp) 1,019.17 689.63 612.68 529.70 516.11 441
DAR (X) 0.45 0.53 0.50 0.51 0.56

0.81 1.14 1.00 1.05 1.27
328
DER(X) 239
ROA (%) 1.17 2.91 6.76 9.51 2.91 215
183
ROE (%) 2.12 6.23 13.50 19.45 6.59 120
GPM (%) 17.48 17.46 15.86 17.32 16.92 102
OPM (%) - 3.15 4.94 5.24 1.93

NPM (%) 1.35 2.20 3.73 4.08 1.31
-11
2011 2012 2013 2014 Dec-15

Payout Ratio (%) 31.85 470.30 224.83 34.95 20.57
Yield (%) 0.65 16.17 9.59 1.18 0.38

COMPANY REPORT
MYRX
HANSON INTERNATIONAL TBK.
Company Profile

PT Hanson International Tbk. (formerly PT Hanson Industri Utama Tbk.) was established on
July 7th, 1971.

The Company is mainly engaged in industry, general trade and development. The Company
started its commercial operation in 1997. The Company’s current activity is only investing
in its subsidiaries.

Hanson establishing in the Property Sector. Hansonland PT Hanson International Tbk. is
emerging as Indonesia’s major property developer, with a landbank in excess of 3,000
hectares in very strategic locations in greater Jakarta. Hansonland is dedicated to “Building
Cities for Life” and to deliver high quality properties to its customers.

PT Hanson International Tbk., holding company along with its subsidiaries has made steady
progress in the development of land banks into residential and commercial areas. The
Company has signed strategic Joint Venture agreements with Ciputra Group, a reputed and
established company to develop close to 500 hectares of land in Maja Raya, Greater
Jakarta.

The Company has also secured Joint Venture agreements with a consortium of prominent
developers in Indonesia to develop 850 Hectares of land in Serpong. This would become
City of Future with all modern amenities. The Company partners with Pacific Millennium
Land is a consortium of prominent developers of Jakarta, who foresee Serpong as a
tremendous potential opportunity and are committed to develop a world class city. The
developers are experienced in building Seven Star and Five star Hotels, high rise
commercial and residential properties. Hanson has synergized with PML to develop
Millennium City in Serpong over an area of 850 Hectares. This strategic location in Serpong
area will be the most sought after living destination because of the excellent infrastructure,
schools, medical facilities and shopping malls.
February 2016
Disclaimer:

MYRX Hanson International Tbk. [S]
Development Board Individual Index : 91.385
Industry Sub Sector : Investment Company (98) Market Capitalization : 10,548,372,957,450
67 | 10.5T | 0.22% | 81.49%
11 | 24.5T | 1.79% | 41.28%

Established Date : 07-Jul-1971 1. Benny Tjokrosaputro 2,659,687,487 : 16.89%
Listing Date : 31-Oct-1990 2. PT ASABRI (Persero) 954,835,200 : 6.06%
PT Aseam Indonesia
PT PDFCI Securities DIVIDEND ANNOUNCEMENT
PT Sinar Mas Bonus Cash Recording Payment
F/I
PT Ficomindo Buana Registrar 1989 118.00 16-Jan-91 17-Jan-91 24-Jan-91 25-Feb-91 F
Mayapada Tower 10th Fl. Suite 02 B, Jln. Jend. Sudirman Kav. 28, 1990 50.00 16-Jan-91 17-Jan-91 24-Jan-91 25-Feb-91 I
Karet - Setiabudi, Jakarta 12920 1990 10 : 1 21-Jun-91 24-Jun-91 01-Jul-91 22-Jul-91 S
Phone : (021) 521-2316, 2317 1991 1:1 200.00 18-May-92 19-May-92 26-May-92 26-Jun-92 F
Fax : (021) 521-2320 1992 50.00 28-Apr-93 29-Apr-93 10-May-93 10-Jun-93 F
1995 10.00 23-Jul-96 24-Jul-96 01-Aug-96 30-Aug-96 F
BOARD OF COMMISSIONERS 1996 20.00 26-May-97 27-May-97 04-Jun-97 03-Jul-97 F
1. I Nyoman Tjager 1997 4:9 13-Nov-98 16-Nov-98 25-Nov-98 21-Dec-98 B
2. Monang Situmeang SH.
3. Venkata Ramana Tata *) ISSUED HISTORY
*) Independent Commissioners Listing Trading
BOARD OF DIRECTORS 1. First Issue 1,000,000 31-Oct-90 31-Oct-90
1. Benny Tjokrosaputro 2. Partial Listing 1,450,000 31-Oct-90 07-Nov-90
2. Adnan Tabrani 3. Bonus Shares 700,000 21-Feb-92 21-Feb-92
3. George Ignasius Ratulangi 4. Company Listing 4,550,000 18-Jun-92 18-Jun-92
4. Raden Agus Santosa 5. Bonus Shares 7,700,000 14-Aug-92 14-Aug-92
5. Rony Agung Suseno 6. Right Issue 92,400,000 29-Dec-97 29-Dec-97
7. Stock Split 107,800,000 02-Nov-98 02-Nov-98
AUDIT COMMITTEE 8. Bonus Shares 485,100,000 11-Jan-99 11-Jan-99
1. Venkata Ramana Tata 9. Additional Listing 4,513,705,164 11-Dec-02 11-Dec-02
2. Yunita Triana 10. Additional Listing without RI 633,540,016 13-Dec-12 13-Dec-12
11. Right Issues 8,362,728,216 02-Jan-14 02-Jan-14
CORPORATE SECRETARY 12. Additional Listing without Right Issue 500,000,000 16-Dec-15 16-Dec-15
Rony Agung Suseno 13. Additional Listing without Right Issue 143,614,500 30-Dec-15 30-Dec-15
14. Additional Listing without Right Issue 889,552,339 06-Jan-16 06-Jan-16
HEAD OFFICE
Mayapada Tower 21st Fl.
Jakarta
Phone : (021) 521-3555
Fax : (021) 521-4555
Homepage : www.hanson.co.id
Email : rony@hanson.co.id

TRADING ACTIVITIES
Hanson International Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
800 1,600 Jan-12 350 285 290 7,387 1,005,802 289,296 21
Feb-12 320 270 290 5,128 563,616 157,582 21
700 1,400 Mar-12 305 260 285 2,003 738,606 175,471 21
Apr-12 285 260 275 1,993 395,979 107,179 20
May-12 275 230 250 2,342 527,954 131,285 21
600 1,200
Jun-12 280 210 280 2,303 467,025 108,595 21
Jul-12 280 210 235 1,634 358,980 76,410 22
500 1,000
Aug-12 235 200 215 1,881 252,690 56,326 19
Sep-12 235 205 235 1,764 332,787 72,641 20
400 800
Oct-12 235 200 225 4,545 642,986 144,560 22
Nov-12 305 210 265 32,912 1,439,036 363,772 20
300 600 Dec-12 300 245 285 77,433 1,651,379 440,048 18
200 400 Jan-13 320 260 315 87,950 1,803,276 483,087 21

Feb-13 440 315 440 114,729 2,942,086 1,071,247 20
100 200 Mar-13 510 410 510 38,068 1,968,622 835,915 19
Apr-13 510 450 490 30,119 1,858,711 874,265 22
May-13 630 470 630 29,777 2,058,740 1,058,741 22
Jun-13 740 610 740 32,980 2,247,657 1,427,005 19
Jul-13 740 610 630 30,767 1,833,184 1,194,730 23
Aug-13 640 550 580 17,268 1,302,136 774,395 17
Sep-13 670 550 560 25,322 2,073,031 1,212,263 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-13 600 520 530 19,065 1,771,312 982,315 21
Trade, Sevices and Investment Index Nov-13 540 500 500 15,384 1,328,809 704,556 20
180%
Jan-14 615 520 595 30,182 1,513,524 829,800 20
150% Feb-14 605 565 600 33,198 1,709,521 968,617 20
Mar-14 680 575 670 35,590 1,902,399 1,121,541 20
131.0%
120% Apr-14 670 590 620 36,945 2,413,894 1,409,251 20
May-14 670 600 625 26,991 1,385,837 849,269 18
90% Jun-14 665 605 605 126,341 2,157,050 1,307,572 21
Jul-14 635 575 625 102,581 3,118,104 1,824,044 18
Aug-14 680 600 665 92,688 2,244,923 1,298,751 20
60%
Sep-14 695 590 620 88,381 3,486,173 2,151,596 22
Oct-14 635 600 620 73,817 2,536,871 1,545,151 23
30% 33.4%
Nov-14 710 615 690 67,495 3,091,209 1,796,035 20
18.1%
Dec-14 695 645 695 47,966 1,950,424 1,290,320 20
-
Jan-15 720 650 710 38,282 1,701,983 1,066,302 21

-30% Feb-15 775 695 755 89,953 1,505,853 1,060,692 19
Mar-15 785 735 755 76,400 1,888,313 1,392,377 22
-60% Apr-15 755 705 710 55,146 1,356,293 981,428 21
Jan 12 Jan 13 Jan 14 Jan 15 Jan 16 May-15 780 705 780 66,636 1,730,755 1,247,310 19
Jun-15 770 469 740 82,737 2,666,721 1,796,143 21
Jul-15 745 700 715 45,087 1,231,383 877,347 19
SHARES TRADED 2012 2013 2014 2015 Jan-16 Aug-15 720 625 720 52,202 2,204,681 1,513,002 20
Volume (Million Sh.) 8,377 23,026 27,510 33,581 4,758 Sep-15 730 670 695 58,029 2,938,886 2,019,706 21
Value (Billion Rp) 2,123 11,557 16,392 22,594 2,935 Oct-15 710 660 675 59,702 4,373,759 2,960,989 21
Frequency (Thou. X) 141 456 762 711 24 Nov-15 695 635 655 68,064 5,149,621 3,398,221 21
Days 246 244 242 244 20 Dec-15 685 595 635 18,682 6,833,162 4,280,684 19
Price (Rupiah) Jan-16 700 600 670 23,562 4,758,101 2,934,954 20

High 350 740 710 785 700
Low 200 260 520 469 600
Close 285 570 695 635 670
Close* 285 570 695 635 670
PER (X) 11.28 313.21 -2,376.29 347.28 388.36

PER Industry (X) 19.08 15.42 22.13 12.43 12.79
PBV (X) 6.58 0.68 2.03 1.80 2.01

Receivables 17,309 62,186 18,446 56,270 329,241

14,479 86,229 4,037 773 59,060 6,000
Inventories
Current Assets 160,299 193,490 108,575 328,835 971,244
4,500
Fixed Assets 219,231 279,138 272,367 269,168 1,925
Other Assets 56,663 55,413 23,089 22,489 83,927
3,000
Total Assets 861,975 1,116,299 5,335,863 5,414,788 6,377,312
Growth (%) 29.50% 378.00% 1.48% 17.78% 1,500

Long Term Liabilities 174,275 437,561 96,186 76,449 399,791 2011 2012 2013 2014 Sep-15
Total Liabilities 895,064 862,950 454,786 552,854 1,136,143
Growth (%) -3.59% -47.30% 21.56% 105.50%
Paid up Capital 846,857 846,858 351,976,225 1,836,340 1,976,571 5,241 4,881 4,862

Par Value 500 & 110 500 & 110 500, 125, & 110 500 & 110 500 & 125 &110
4,186
Retained Earnings -1,090,124 -1,077,468 -1,150,889 -1,154,006 -1,127,083

3,131
Total Equity -33,089 253,349 4,881,077 4,861,934 5,241,170

Growth (%) N/A 1,826.62% -0.39% 7.80% 2,077
253
Total Revenues 183,463 117,924 170,002 135,409 54,805 2011
Growth (%) -35.72% 44.16% -20.35%
-33
-33 2012 2013 2014 Sep-15
Cost of Revenues 36,924 36,569 140,205 73,589 36,475

Gross Profit 146,539 81,355 29,796 61,820 18,330
Expenses (Income) 28,810 22,961 -56,502 24,501 -3,913
Operating Profit 117,729 58,394 86,298 37,319 22,243 183
170
Growth (%) -50.40% 47.79% -56.76%
183
146
135
Other Income (Expenses) -9,784 -30,241 -73,193 -35,571 -1,911 118
Income before Tax 107,945 28,153 13,105 1,748 20,332 109
Tax 6,043 - 12,861 377 -

Profit for the period 101,903 28,153 245 1,371 20,332
71
55
Growth (%) -72.37% -99.13% 460.18%

34
Period Attributable - 12,656 10,642 3,117 20,371 -4
Comprehensive Income 101,903 147,718 -119,320 1,371 20,332 2011 2012 2013 2014 Sep-15
Comprehensive Attributable - 132,221 -108,922 -3,117 20,371
Current Ratio (%) 22.24 45.49 30.28 69.02 131.90
102
Dividend (Rp) - - - - - 102
EPS (Rp) - 2.43 0.69 0.22 1.33

BV (Rp) -6.35 48.59 318.37 342.13 341.85 81
DAR (X) 1.04 0.77 0.09 0.10 0.18

-27.05 3.41 0.09 0.11 0.22
60
DER(X)
ROA (%) 11.82 2.52 0.00 0.03 0.32
28
40
ROE (%) -307.96 11.11 0.01 0.03 0.39 20

GPM (%) 79.87 68.99 17.53 45.65 33.45 19
OPM (%) 64.17 49.52 50.76 27.56 40.59 0.2 1.4
NPM (%) 55.54 23.87 0.14 1.01 37.10

-2
2011 2012 2013 2014 Sep-15

Payout Ratio (%) - - - -
Yield (%) - - - - -

COMPANY REPORT
PGAS
PERUSAHAAN GAS NEGARA
(PERSERO) TBK.
Company Profile
PT Perusahaan Gas Negara (Persero) Tbk. was established in 1859. On May 13th, 1965, the Company
was stated as state owned enterprise and known as Perusahaan Negara Gas (PN. Gas).

The status of the Company was changed from a public service enterprise (Perum) to a state‐owned
limited liability company (Persero) and the name was changed to PT Perusahaan Gas Negara
(Persero) based on Government Regulation No. 37 year 1994.

The Company’s purposes are to implement and support the Government’s economic and national
development programs, particularly in developing uses of natural gas for the benefit of the public as
well as in the supply of a sufficient volume and quality of gas for public consumption. To achieve
these objectives, the Company carries out planning, construction, operating and development of
natural gas downstream business which includes processing, transporting, storing and trading,
planning, construction, production development, supplying and distribution of processed gas; or
other businesses which support the foregoing activities in accordance with prevailing laws and
regulations. Currently, the Company’s principal business was the distribution and transmission of
natural gas to industrial, commercial and household users.

To achieve responsive sales target, the Company has divided its business areas into three Regional
Distribution (RD) and one Regional Transmission (RT), as follows:
1. Regional Distribution I, covers Western Java Region until South Sumatera ,
2. Regional Distribution II, covers Eastern Java Region,
3. Regional Distribution III, covers Northern Sumatera Region and the Riau Islands,
4. Regional Transmission covers Sumatera‐Java Region.

The Company commenced the construction of South Sumatera – West Java gas transmission I and II
will expected opereating maximum capacity of 460 mmscfd and 520 mmscfd (unaudited).

The company has ownership in subsidiaries: PT PGAS Telekomunikasi Nusantara, PT PGAS Solution,
PT Saka Energi Indonesia, PT Gagas Energi Indonesia, PT PGN LNG Indonesia, PT Permata Graha
Nusantara. As of December 31st, 2015, the Company and Subsidiaries had a total of 2,262 employees.

February 2016
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 : 58,300,827,211,380
15 | 58.3T | 1.19% | 56.87%
7 | 33.1T | 2.42% | 32.60%

Established Date : 01-Feb-1905 1. Negara Republik Indonesia 13,809,038,756 : 56.96%
Under Writer IPO :
PT ABN AMRO Asia Securities Indonesia Bonus Cash Recording Payment
F/I
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. Iman Sugema *) 2009 144.20 08-Jul-10 09-Jul-10 13-Jul-10 27-Jul-10 F
2. IGN Wiratmaja Puja 2010 10.20 27-Dec-10 28-Dec-10 30-Dec-10 04-Jan-11 I
3. M. Ikhsan 2010 144.24 19-Jul-11 20-Jul-11 22-Jul-11 04-Aug-11 F
4. Paiman Rahardjo *) 2011 10.87 30-Nov-11 01-Dec-11 05-Dec-11 16-Dec-11 I
5. Tirta Hidayat 2011 123.75 12-Jun-12 13-Jun-12 15-Jun-12 29-Jun-12 F
*) Independent Commissioners 2012 202.77 10-May-13 13-May-13 15-May-13 29-May-13 F
2013 210.40 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
BOARD OF DIRECTORS
1. Hendi Prio Santoso ISSUED HISTORY
2. Djoko Saputro Listing Trading
3. Hendi Kusnadi No. Type of Listing Shares Date Date
4. Jobi Triananda Hasjim 1. First Issue 1,296,296,000 15-Dec-03 15-Dec-03
5. M. Riza Pahlevi Tabrani 2. Company Listing 3,024,691,000 T: 15-Dec-03 : 15-Jun-04
6. Muhammad Wahid Sutopo 3. MSOP Conversion 215,637,305 T: 13-Dec-04 : 28-Dec-06
4. MSOP Conversion II 3,261,500 T: 10-Nov-06 : 16-Feb-07
AUDIT COMMITTEE 5. ESOP Conversion 53,551,388 T: 18-Jan-08 : 19-Feb-08
1. Paiman Rahardjo 6. Stock Split 18,373,748,772 04-Aug-08 04-Aug-08
2. Achmad Surya Abadi 7. Government Project Fund Conversion 1,274,322,231 T: 16-Apr-09 : 16-Oct-09
3. Kurnia Sari Dewi
4. Mohamad Slamet Wibowo
5. Yovita Lasti Handini
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
contact.center@pgn.co.id

TRADING ACTIVITIES
Perusahaan Gas Negara (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
6,400 400 Jan-12 3,500 3,050 3,375 27,122 470,932 1,557,024 21
Feb-12 3,775 3,300 3,750 27,960 535,228 1,895,258 21
5,600 350 Mar-12 3,850 3,575 3,800 25,231 392,942 1,470,645 21
Apr-12 3,825 3,300 3,350 24,434 465,723 1,652,881 20
May-12 4,000 3,350 3,700 34,239 905,887 3,409,283 21
4,800 300
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
4,000 250
Aug-12 3,825 3,600 3,700 21,472 493,571 1,824,200 19
Sep-12 4,200 3,675 4,125 23,478 639,777 2,546,133 20
3,200 200
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
2,400 150 Dec-12 4,650 4,375 4,600 21,842 477,616 2,171,383 18
1,600 100 Jan-13 4,725 4,450 4,675 33,296 535,744 2,462,840 21

Feb-13 4,875 4,575 4,800 27,481 517,665 2,446,564 20
800 50 Mar-13 6,100 4,850 5,950 37,631 684,572 3,657,960 19
Apr-13 6,350 5,550 6,250 29,703 573,930 3,376,638 22
May-13 6,450 5,500 5,500 39,143 655,792 4,013,862 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
Aug-13 6,000 4,875 5,400 38,726 416,560 2,206,294 17
Sep-13 5,600 4,975 5,200 48,396 718,169 3,806,937 21
Infrastructure, Utilities and Transportation Index Nov-13 5,100 4,450 4,850 53,784 531,321 2,588,151 20
120%
Jan-14 4,780 4,120 4,770 106,143 731,381 3,299,365 20
100% Feb-14 5,075 4,660 4,900 61,662 432,426 2,115,770 20
Mar-14 5,350 4,850 5,125 73,931 547,714 2,773,081 20
80% Apr-14 5,575 5,100 5,325 62,511 494,101 2,620,377 20
May-14 5,800 5,250 5,425 39,910 403,160 2,219,449 18
60% Jun-14 5,575 5,200 5,575 46,024 388,534 2,098,889 21
Jul-14 6,125 5,400 5,900 53,554 391,901 2,259,475 18
42.3% Aug-14 6,100 5,700 5,800 53,579 296,364 1,739,898 20
40%
Sep-14 6,100 5,825 6,000 55,429 355,364 2,126,646 22
Oct-14 6,075 5,600 5,950 58,653 516,524 3,001,773 23
20% 18.1% Nov-14 6,225 5,825 5,950 44,381 382,941 2,307,438 20
Dec-14 6,075 5,775 6,000 56,406 424,716 2,521,726 20
-
Jan-15 6,050 4,995 5,050 92,906 887,651 4,816,967 21

-20% Feb-15 5,500 5,050 5,200 66,654 624,549 3,312,449 19
-24.8%
Mar-15 5,400 4,600 4,800 96,871 782,389 3,975,099 22
-40% Apr-15 4,890 4,100 4,100 121,106 952,937 4,338,820 21
Jun-15 4,390 4,155 4,315 82,956 429,183 1,834,395 21
Jul-15 4,350 3,900 4,000 63,869 386,941 1,600,087 19
Volume (Million Sh.) 7,191 7,074 5,365 9,592 607 Sep-15 2,965 2,150 2,530 168,748 1,736,188 4,599,265 21
Frequency (Thou. X) 319 505 712 1,230 96 Nov-15 3,080 2,560 2,655 94,906 782,374 2,261,286 21
Days 246 244 242 244 20 Dec-15 2,915 2,305 2,745 96,859 569,389 1,521,635 19
Price (Rupiah) Jan-16 2,770 2,350 2,405 96,049 607,085 1,517,643 20

High 4,800 6,450 6,225 6,050 2,770
Low 3,050 4,375 4,120 2,150 2,350
Close 4,600 4,475 6,000 2,745 2,405
Close* 4,600 4,475 6,000 2,745 2,405
PER (X) 12.61 10.27 15.09 12.02 10.53

PER Industry (X) 17.53 12.11 20.04 15.24 14.31
PBV (X) 4.90 3.24 4.24 1.60 1.40

Receivables 2,043,553 2,550,177 3,875,102 5,125,490 5,675,984

11,836 23,644 179,329 812,909 636,891 80,000
Inventories
Current Assets 13,656,295 19,183,520 21,847,077 23,141,099 25,247,134
60,000
Fixed Assets 15,866,650 16,378,657 22,542,829 30,904,599 28,269,719
Other Assets 38,309 21,425 50,620 97,582 85,452
40,000
Total Assets 30,976,446 37,791,930 53,536,157 77,295,913 95,197,541
Growth (%) 22.00% 41.66% 44.38% 23.16% 20,000

Growth (%) 8.91% 33.63% 101.50% 25.82%
Paid up Capital 2,424,151 2,424,151 2,424,151 2,424,151 2,424,151 42,626
24,242 24,242 24,242 24,242 24,242 36,849

Paid up Capital (Shares)
33,463
Par Value 100 100 100 100 100 33,930

22,771
Total Equity 17,184,712 22,770,838 33,463,069 36,848,736 44,305,239
25,235
17,185
Growth (%) 32.51% 46.96% 10.12% 20.24% 16,539
Total Revenues 19,567,407 24,914,688 36,828,609 42,389,226 44,979,267

Growth (%) 27.33% 47.82% 15.10% 6.11%
-853
2011 2012 2013 2014 Dec-15
Cost of Revenues 7,793,751 10,676,664 19,429,817 24,172,867 30,862,955

Gross Profit 11,773,656 14,238,024 17,398,792 18,216,359 14,116,312
Expenses (Income) 4,051,278 4,389,290 5,942,474 6,003,474 5,827,914
42,389
Growth (%) 27.53% 16.32% 6.60% -32.13%
36,829
42,389
Other Income (Expenses) -68,189 1,255,405 2,348,434 -40,958 -1,793,392

33,742
24,915
Income before Tax 7,654,189 11,104,139 13,804,752 12,171,927 6,495,006
19,567
25,094
Tax 1,535,979 2,253,611 2,836,789 2,873,884 591,768

Growth (%) 44.66% 23.92% -15.23% -36.51%

7,800
Current Ratio (%) 549.92 419.63 201.01 170.62 258.13
10,968
Dividend (Rp) 134.62 202.77 210.40 - - 10,968
9,298
EPS (Rp) 244.75 355.38 435.56 370.78 242.58 8,851
BV (Rp) 708.90 939.33 1,380.40 1,520.07 1,827.66 8,730
DAR (X) 0.45 0.40 0.37 0.52 0.53 6,118 5,903

0.80 0.66 0.60 1.10 1.15
6,493
DER(X)
ROA (%) 19.75 23.42 20.49 12.03 6.20 4,256
ROE (%) 35.60 38.87 32.78 25.23 13.32

GPM (%) 60.17 57.15 47.24 42.97 31.38 2,018
OPM (%) 39.47 39.53 31.11 28.81 18.43

NPM (%) 31.27 35.52 29.78 21.93 13.12
-219
2011 2012 2013 2014 Dec-15

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

COMPANY REPORT
PTBA
TAMBANG BATUBARA
BUKIT ASAM (PERSERO) TBK.
Company Profile

PT Tambang Batubara Bukit Asam (Persero) Tbk. was established on March 2, 1981. In
1993, the Company was appointed by the Indonesian Government to develop a Coal
Briquette Operating Unit.

The scope of activities of the Company and its subsidiaries comprises coal mining activities,
including general surveying, exploration, exploitation, processing, refining, transportation
and trading, maintenance of special coal port facilities for internal and external needs,
operation of steam power plants for internal and external needs and providing consulting
services related to the coal mining industry as well as its derivative products.

The company has direct ownership in subsidiaries:
 PT Batubara Bukit Kendi,
 PT Bukit Asam Prima,
 PT International Prima Coal,
 PT Bukit Asam Metana Ombilin,
 PT Bukit Asam Metana Enim,
 PT Bukit Asam Metana Peranap,
 PT Bukit Asam Banko,
 PT Bukit Multi Investama,
 PT Bukit Energi Investama.

The Company has an ownership interest in the following joint venture entities:
 PT Bukit Pembangkit Innovative, Tanjung Enim Sumatera Selatan, Independent
power,
 PT Bukit Asam Transpacific Railway, Jakarta, Coal transportation services,
 PT Huadian Bukit Asam Power, Tanjung Enim, Sumatera Selatan, Independent
power producer.

As of December 31st, 2015, the Company had a total of 2,663 permanent employees.
February 2016
Disclaimer:

PTBA Tambang Batubara Bukit Asam (Persero) Tbk. [S]
Industry Sub Sector : Coal Mining (21) Market Capitalization : 10,253,386,732,500
69 | 10.3T | 0.21% | 81.91%
51 | 6.69T | 0.49% | 79.39%

Listing Date : 23-Dec-2002 2. PT Tambang Batu Bara Bukit Asam (Persero) Tbk. 196,056,700 : 8.51%
Under Writer IPO : 3. Public (<5%) 609,987,650 : 26.47%
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. Muhammad Said Didu 2009 66.75 25-Nov-09 26-Nov-09 01-Dec-09 15-Dec-09 I
4. Robert Heri 2009 466.65 26-May-10 27-May-10 01-Jun-10 15-Jun-10 F
5. S. Koesnaryo *) 2010 66.75 20-Dec-10 21-Dec-10 23-Dec-10 29-Dec-10 I
6. Seger Budiarjo 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 2014 324.57 07-Apr-15 08-Apr-15 10-Apr-15 30-Apr-15 I
3. Anung Dri Prasetya
4. Heri Supriyanto ISSUED HISTORY
5. M. Jamil Listing Trading
6. Maizal Gazali No. Type of Listing Shares Date Date
1. First Issue 346,500,000 23-Dec-02 23-Dec-02
AUDIT COMMITTEE 2. Company Listing 1,785,000,000 23-Dec-02 23-Dec-02
1. S. Koesnaryo 3. Warrant 172,631,850 T: 14-Dec-04 : 28-Dec-05
2. Ai Supardini
3. Barlian Dwinagara
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
22,000 72.0 Jan-12 20,250 17,300 20,150 15,251 52,009 999,520 21
Feb-12 21,150 19,900 20,750 13,083 79,652 1,651,883 21
19,250 63.0 Mar-12 21,100 20,050 20,500 12,467 60,156 1,240,929 21
Apr-12 20,600 18,000 18,450 14,159 52,472 1,012,647 20
May-12 18,550 15,000 15,000 19,856 67,653 1,133,883 21
16,500 54.0
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
13,750 45.0
Aug-12 16,000 13,500 14,600 13,578 48,346 720,762 19
Sep-12 17,000 13,800 16,200 16,341 61,071 953,500 20
11,000 36.0
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
8,250 27.0 Dec-12 16,000 13,650 15,100 16,876 51,945 774,274 18
5,500 18.0 Jan-13 17,000 15,250 15,500 18,751 48,043 775,403 21

Feb-13 15,800 14,700 15,100 15,553 36,334 556,775 20
2,750 9.0 Mar-13 15,550 13,500 14,400 15,521 51,161 758,208 19
Apr-13 15,500 14,550 15,250 13,609 73,416 1,119,626 22
May-13 15,650 12,100 12,200 20,997 103,759 1,496,445 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
Aug-13 12,650 9,900 12,100 16,624 45,370 515,876 17
Sep-13 14,150 12,000 12,750 14,849 40,865 540,723 21
Mining Index Nov-13 12,750 11,500 12,000 24,137 70,921 852,812 20
60%
Jan-14 10,600 8,975 9,250 44,679 108,649 1,027,710 20
40% Feb-14 9,750 9,100 9,575 32,839 63,663 597,991 20
Mar-14 9,650 9,125 9,325 31,705 71,519 681,021 20
20% Apr-14 10,375 9,275 9,875 37,927 93,241 911,383 20
18.1%
May-14 11,900 9,650 10,700 38,397 110,174 1,171,293 18
- Jun-14 11,550 10,250 10,725 33,290 72,603 794,402 21
Jul-14 11,700 10,350 11,650 27,074 46,806 522,367 18
Aug-14 13,900 11,450 13,350 44,905 84,949 1,111,304 20
-20%
Sep-14 14,150 12,600 13,200 42,360 51,496 687,303 22
Oct-14 13,625 11,100 12,950 42,019 46,227 578,241 23
-40%
Nov-14 13,575 11,875 13,150 24,797 40,529 519,174 20
Dec-14 13,650 12,200 12,500 30,786 39,684 519,559 20
-60%
-69.9% Jan-15 12,525 10,100 11,375 41,254 60,844 690,666 21
-75.7%
-80% Feb-15 11,725 10,350 10,675 36,099 55,708 616,697 19
Mar-15 11,250 10,150 10,750 36,562 57,946 619,774 22
-100% Apr-15 11,175 9,350 9,350 27,080 36,037 394,197 21
Jun-15 9,950 8,250 8,400 30,956 42,212 390,524 21
Jul-15 8,475 6,000 6,000 35,339 60,945 426,944 19
Days 246 244 242 244 20 Dec-15 5,800 4,305 4,525 76,121 143,545 708,778 19
Price (Rupiah) Jan-16 4,610 4,150 4,450 44,672 60,404 267,843 20

High 21,150 17,000 14,150 12,525 4,610
Low 12,950 9,700 8,975 4,305 4,150
Close 15,100 10,200 12,500 4,525 4,450
Close* 15,100 10,200 12,500 4,525 4,450
PER (X) 15.33 12.87 13.65 5.12 5.04

PER Industry (X) 8.49 20.76 3.23 5.06 5.67
PBV (X) 4.09 3.11 3.53 1.12 1.10

Receivables 1,180,195 1,545,556 1,427,572 1,439,401 1,595,580

64,483 765,964 901,952 1,033,360 1,233,175 13,600
Inventories
Current Assets 8,859,260 8,718,297 6,479,783 7,416,805 7,598,476
10,200
Fixed Assets 1,140,466 1,853,447 2,803,393 3,987,565 5,579,117
Other Assets 50,949 97,886 119,746 119,719 102,318
6,800
Total Assets 11,507,104 12,728,981 11,677,155 14,812,023 16,894,043
Growth (%) 10.62% -8.26% 26.85% 14.06% 3,400

Growth (%) 26.38% -2.33% 48.86% 23.86%
9,288
Paid up Capital 1,152,066 1,152,066 1,152,066 1,152,066 1,152,066 9,505
8,505 8,671
8,165
Par Value 500 500 500 500 500
7,566

5,627
Total Equity 8,165,002 8,505,169 7,551,569 8,670,842 9,287,547

Growth (%) 4.17% -11.21% 14.82% 7.11% 3,688
Total Revenues 10,581,570 11,594,057 11,209,219 13,077,962 13,733,627

Growth (%) 9.57% -3.32% 16.67% 5.01%
-190
2011 2012 2013 2014 Dec-15
Cost of Revenues 5,302,592 6,505,932 7,745,646 9,056,219 9,593,903

Gross Profit 5,278,978 5,088,125 3,463,573 4,021,743 4,139,724
Expenses (Income) 1,219,874 1,494,615 1,310,735 1,711,545 1,725,384
13,078
Growth (%) -11.47% -40.09% 7.31% 4.51% 13,078
11,594 11,209
10,582
Other Income (Expenses) - 318,077 308,524 364,528 249,456

10,410
Tax 971,037 1,002,166 607,081 655,512 626,685

Growth (%) -5.79% -36.27% 8.89% 0.89%

2,406
Current Ratio (%) 463.25 492.37 286.59 207.51 154.35
3,088
Dividend (Rp) 803.94 720.75 461.97 324.57 - 3,088
2,909
EPS (Rp) 1,339.26 1,258.66 792.55 875.02 883.59

BV (Rp) 3,543.63 3,691.27 3,277.40 3,763.17 4,030.82 2,458
2,019 2,037
0.29 0.33 0.35 0.41 0.45 1,854
DAR (X)
0.41 0.50 0.55 0.71 0.82
1,828
DER(X)
ROA (%) 26.84 22.86 15.88 13.63 12.06 1,198
ROE (%) 37.82 34.21 24.55 23.29 21.93

GPM (%) 49.89 43.89 30.90 30.75 30.14 568
OPM (%) 38.36 30.99 19.21 17.66 17.58

NPM (%) 29.18 25.09 16.54 15.44 14.83
-62
2011 2012 2013 2014 Dec-15

Payout Ratio (%) 60.03 57.26 58.29 37.09 -
Yield (%) 4.63 4.77 4.53 2.60 -

COMPANY REPORT
PTPP
PEMBANGUNAN PERUMAHAN
(PERSERO) TBK.
Company Profile

PT Pembangunan Perumahan (Persero) Tbk. was established dated August 26th, 1953.

The Company's goals 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, enhancement in
construction capability services, information technology, tourism, hotels business service,
engineering and planning service, development services to produce high quality and highly
competitive goods and/or service, 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 Company's vision: "PT PP
(Persero) Tbk Vision".

The vision shall become strategic guide lines in facing future challenge, which is: "To
become a leading construction and investment company which provides high added values
to all of its stakeholders". The Company's new vision: "To Be a Leader in Construstion and
Investment Company in Indonesia which Internationally Competitive".

As of 31 December 2015 the Company had 1,574 employees.
February 2016
Disclaimer:

PTPP PP (Persero) Tbk. [S]
42 | 18.9T | 0.39% | 74.44%
43 | 9.21T | 0.67% | 74.79%

Established Date : 26-Aug-1953 1. Negara Republik Indonesia 2,469,642,760 : 51.00%
Listing Date : 09-Feb-2010 2. Public (<5%) 2,372,793,740 : 49.00%
Under Writer IPO :
PT Mandiri Sekuritas DIVIDEND ANNOUNCEMENT
F/I
PT DBS Vickers Securities Indonesia Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 2009 10.11 09-Jul-10 12-Jul-10 14-Jul-10 28-Jul-10 F
PT BSR Indonesia 2010 14.57 07-Jul-11 08-Jul-11 12-Jul-11 15-Jul-11 F
Komplek Perkantoran ITC Roxy Mas Blok E1 No. 10-11 2011 14.88 07-Jun-12 08-Jun-12 12-Jun-12 15-Jun-12 F
Jln. K.H. Hasyim Ashari Jakarta 10150 2012 19.19 22-May-13 23-May-13 27-May-13 10-Jun-13 F
Phone : (021) 631-7828 2013 26.06 21-Apr-14 22-Apr-14 24-Apr-14 07-May-14 F
BOARD OF COMMISSIONERS ISSUED HISTORY

1. Djoko Murjanto Listing Trading
2. Andi Gani Nena Wea *) No. Type of Listing Shares Date Date
3. Aryanto Sutadi *) 1. Negara RI (Seri A) 1 09-Feb-10 00-Jan-00
4. Hediyanto W. Husaini 2. Penawaran Umum 1,038,976,500 09-Feb-10 09-Feb-10
5. Muhammad Khoerur Roziqin 3. Company Listing 2,469,642,759 09-Feb-10 09-Feb-10
6. Sumardi 4. PP Employees Cooperative 1,333,817,240 09-Feb-10 08-Oct-10
BOARD OF DIRECTORS
1. Bambang Triwibowo
2. Harry Nugroho
3. I Wayan Karioka
4. Ketut Darmawan
5. Lukman Hidayat
6. Tumiyana
AUDIT COMMITTEE
1. Aryanto Sutadi
2. Handoko Tripriyono
3. Sularso
CORPORATE SECRETARY
Agus Samuel Kana
HEAD OFFICE
Plaza PP
Jln. Letjend. T.B. Simatupang No. 57,
Pasar Rebo, Jakarta 13760
Phone : (021) 840-3883
Fax : (021) 840-3890
Homepage : www.pt-pp.com
Email : corsec@pt-pp.com

TRADING ACTIVITIES
PP (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
4,200 240 Jan-12 610 475 570 8,204 288,312 152,115 21
Feb-12 680 550 640 6,652 326,259 195,562 21
3,675 210 Mar-12 670 600 630 4,896 200,951 127,218 21
Apr-12 720 610 700 8,208 485,613 319,004 20
May-12 760 590 600 7,221 384,823 258,898 21
3,150 180
Jun-12 620 530 610 3,859 201,669 108,323 21
Jul-12 650 580 600 2,427 210,891 127,057 22
2,625 150
Aug-12 680 550 570 4,330 253,171 158,175 19
Sep-12 760 570 730 5,160 320,054 215,131 20
2,100 120
Oct-12 800 690 770 12,027 642,556 477,385 22
Nov-12 930 740 930 10,295 519,428 423,177 20
1,575 90 Dec-12 950 800 830 11,432 419,354 369,417 18
1,050 60 Jan-13 900 760 870 16,564 617,373 522,744 21

Feb-13 940 860 920 11,923 419,197 378,668 20
525 30 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
May-13 1,750 1,410 1,750 24,287 727,035 1,131,154 22
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
Sep-13 1,270 840 1,120 51,644 1,283,678 1,414,590 21
770%
712.5% Jan-14 1,370 1,105 1,350 18,040 347,504 443,365 20
660% Feb-14 1,465 1,295 1,405 25,148 496,128 694,477 20
Mar-14 1,850 1,385 1,830 30,450 618,599 1,026,256 20
550% Apr-14 1,960 1,630 1,845 34,058 562,369 1,009,244 20
May-14 1,990 1,780 1,910 24,955 332,727 625,382 18
440% Jun-14 1,900 1,710 1,850 17,958 257,943 464,091 21
Jul-14 2,420 1,795 2,260 42,486 462,899 998,247 18
Aug-14 2,505 2,200 2,465 33,365 266,229 641,406 20
330%
Sep-14 2,535 2,100 2,150 34,176 272,040 638,895 22
Oct-14 2,650 2,135 2,630 39,143 400,368 945,914 23
220%
Nov-14 3,070 2,545 3,060 33,238 263,067 753,555 20
Dec-14 3,625 3,060 3,575 43,018 339,061 1,125,226 20
110% 103.1%
Jan-15 3,925 3,475 3,915 56,124 403,485 1,503,473 21
19.6%
- Feb-15 4,245 3,850 4,060 50,094 269,943 1,079,418 19
Mar-15 4,070 3,645 3,795 60,287 350,386 1,344,045 22
-110% Apr-15 4,100 3,600 3,925 50,080 355,458 1,380,910 21
Jun-15 4,030 3,130 3,470 52,156 194,400 691,295 21
Jul-15 4,190 3,440 3,905 50,075 199,427 774,366 19
Days 246 244 242 244 20 Dec-15 3,920 3,600 3,875 20,317 66,476 250,396 19
Price (Rupiah) Jan-16 4,015 3,770 3,900 28,192 121,525 477,360 20

High 950 1,780 3,625 4,245 4,015
Low 475 760 1,105 2,960 3,770
Close 830 1,160 3,575 3,875 3,900
Close* 830 1,160 3,575 3,875 3,900
PER (X) 12.98 13.35 44.75 25.35 25.51

PER Industry (X) 17.34 9.57 16.29 18.66 17.68
PBV (X) 2.43 2.83 8.06 3.67 3.69

Public Accountant : Soejatna, Mulyana & Rekan
Receivables 1,284,675 1,633,937 2,187,005 3,135,044 4,111,735

1,586,309 1,565,642 177,419 2,570,346 2,498,625 16,000
Inventories
Investment 243,697 222,844 289,598 417,692 622,833
12,000
Fixed Assets 75,997 72,775 141,882 493,576 2,989,066
Other Assets - - - - -
8,000
Total Assets 6,933,354 8,550,851 12,415,669 14,611,865 19,128,812
Growth (%) 23.33% 45.20% 17.69% 30.91% 4,000
Bank Payable 912,003 1,115,578 836,766 891,868 1,363,297 -

Trade Payable 3,463,503 4,243,610 6,300,346 7,021,633 7,887,792 2011 2012 2013 2014 Dec-15
Growth (%) 25.18% 51.28% 17.17% 14.63%
5,119
Paid up Capital 484,244 484,244 484,244 484,244 484,244
Par Value 100 100 100 100 100 4,011
Retained Earnings 479,030 709,439 1,037,220 1,442,959 2,076,892 3,332
Total Equity 1,425,440 1,655,849 1,984,747 2,390,270 5,119,072 2,652

2,390
1,985
Growth (%) 16.16% 19.86% 20.43% 114.16% 1,656
1,425
1,972
Dec-11 Dec-12 Dec-13 Dec-14 Dec-15

1,293
INCOME STATEMENTS
Total Revenues 6,231,898 8,003,873 11,655,844 12,427,371 14,217,373
613
Growth (%) 28.43% 45.63% 6.62% 14.40%

-67
2011 2012 2013 2014 Dec-15
Cost of Revenues 5,526,136 7,149,367 10,382,923 10,894,711 12,210,412

Gross Profit 785,922 854,505 1,272,922 1,532,660 2,006,961
Operating Profit 654,940 710,825 1,073,385 1,256,702 1,597,164 14,217
Growth (%) 8.53% 51.01% 17.08% 27.09% 12,427

12,427
11,656
8,004
Income before Tax 418,476 545,392 766,890 919,445 1,287,534
6,232
Tax 178,253 235,709 346,170 387,380 441,971
7,357
Growth (%) 28.91% 35.86% 26.47% 58.92%

2,287
Comprehensive Income 240,223 309,683 420,720 532,065 2,037,652 2011 2012 2013 2014 Dec-15
Comprehensive Attributable 240,223 309,683 420,708 531,951 1,932,412
Dividend (Rp) 14.88 19.19 26.06 21.97 -
846
EPS (Rp) 49.61 63.95 86.88 109.85 152.88
BV (Rp) 294.36 341.95 409.87 493.61 1,057.13 749
DAR (X) 0.79 0.81 0.84 0.84 0.73 641
532
DER(X) 3.86 4.16 5.26 5.11 2.74 532
421
ROA (%) 3.46 3.62 3.39 3.64 4.42 424
ROE (%) 16.85 18.70 21.20 22.26 16.52 310

315
240
GPM (%) 12.61 10.68 10.92 12.33 14.12
10.51 8.88 9.21 10.11 11.23
206
OPM (%)
NPM (%) 3.85 3.87 3.61 4.28 5.95
98
Payout Ratio (%) 30.00 30.01 30.00 20.00 -

-11
2011 2012 2013 2014 Dec-15

Yield (%) 3.07 2.31 2.25 0.61 -

COMPANY REPORT
PWON
PAKUWON JATI TBK.
Company Profile

PT Pakuwon Jati Tbk. is a diversified real estate developer focused in Jakarta and Surabaya.
The Company's portfolio of prime properties includes retail, residential, commercial and
hospitality developments

Established in 1982 and listed on both the Jakarta and Surabaya Stock exchanges since
1989, Pakuwon Jati is an established brand name with over 25 years of experience
successfully developing, marketing and operating properties. The Company is vertically
integrated across the full real estate value chain from land acquisition, property
development, marketing and operational management.

Pakuwon Jati is the pioneer of the Superblock concept in Indonesia, a large‐scale integrated
mixed‐use development of retail shopping mall, office, condominium and hotel. Its
successful track record and reputation within the property industry has secured strong
long‐term relationships with tenants and buyers, which provides a stable platform for rapid
business expansion.

Based on Company’s Article of Associations, the Company is engaged in business:
1) Shopping center : Tunjungan Plaza, Kota Kasablanka, Gandaria City
2) Business center named as Mandiri Office Tower, Gandaria 8 Office Tower
3) Hotel named as Sheraton Surabaya Hotel and Towers, Gandaria Hotel
4) Real estate business Pakuwon City Township, Condominium Regensi, CasaGrande
Condominium, Gandaria Heights Condominium.

The Company has direct and indirect ownership in subsidiaries: PT Artisan Wahyu, PT Elite
Prima Hutama, PT Pakuwon Sentra Wisata, PT Pakuwon Regency, PT Grama Pramesi Siddhi,
Pakuwon Prima Pte. Ltd. Singapore, Artius Grandis Pte. Ltd., PT Centrum Utama Prima, PT
Pakuwon Permai, PT Dwijaya Manunggal, PT Pakuwon Sentosa Abadi, PT Permata Berlian
Realty.

The company started commercial operations in May 1986. The Company and its
subsidiaries has total number of employees of 2,833 as of December 31st, 2015.
February 2016
Disclaimer:

PWON Pakuwon Jati Tbk. [S]
37 | 21.6T | 0.44% | 72.43%
33 | 11.2T | 0.82% | 67.41%

Established Date : 20-Sep-1982 1. Burgami Investments Limited 10,063,591,200 : 20.90%
Listing Date : 09-Oct-1989 2. JPMBLSA Re:JPMIB - PT Pakuwon Ar 6,080,129,840 : 12.62%
Under Writer IPO : 3. Concord Media Investment Ltd 3,556,800,000 : 7.39%
PT Danareksa (Persero) 4. Raylight Investments Limited 3,441,204,000 : 7.15%
PT Aseam Indonesia 5. Public (<5%) 25,017,877,360 : 51.95%
PT Inter-Pacific Financial Corporation
PT Sirca Datapro Perdana Bonus Cash Recording Payment
F/I
Jln. Johar No. 18 Year Shares Dividend Cum Date Ex Date Date Date
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) 314-0185, 390-0652, 390-0671 1991 30.00 10-Jun-92 12-Jun-92 19-Jun-92 20-Jul-92 F
1991 2:1 23-Nov-92 24-Nov-92 01-Dec-92 23-Dec-92 F
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 2013 4.50 17-Jul-14 18-Jul-14 22-Jul-14 12-Aug-14 F
2. Alexander Stefanus Ridwan Suhendra 2014 4.50 02-Jul-15 03-Jul-15 07-Jul-15 29-Jul-15 F
3. Eiffel Tedja
4. Irene Tedja ISSUED HISTORY
5. Minarto Listing Trading
6. Sutandi Purnomosidi No. Type of Listing Shares Date Date
7. Wong Boon Siew Ivy 1. First Issue 3,000,000 09-Oct-89 09-Oct-89
2. Company Listing 17,000,000 09-Oct-89 09-Oct-89
AUDIT COMMITTEE 3. Right Issue 50,000,000 01-Oct-91 01-Oct-91
1. Agus Soesanto 4. Bonus Shares 35,000,000 24-Dec-92 24-Dec-92
2. Antonius Susanto 5. Right Issue 5,000 18-Jul-94 29-Jul-94
3. Lisawati 6. Right Issue 4,300 18-Jul-94 05-Aug-94
7. Right Issue 6,500 18-Jul-94 10-Aug-94
CORPORATE SECRETARY 8. Right Issue 21,625 18-Jul-94 11-Aug-94
Minarto 9. Right Issue 30,450 18-Jul-94 16-Aug-94
10. Right Issue 1,650 18-Jul-94 19-Aug-94
HEAD OFFICE 11. Right Issue 20,500 18-Jul-94 19-Aug-94
EastCoast Center 5th Fl. 12. Right Issue 20,078,445 18-Jul-94 24-Aug-94
Pakuwon Town Square - Pakuwon City 13. Right Issue 9,804,048 18-Jul-94 30-Aug-94
Jln. Kejawan Putih Mutiara No. 17, Surabaya 14. Right Issue 74,483,629 18-Jul-94 31-Aug-94
Phone : (031) 582-08788 15. Right Issue 543,853 18-Jul-94 01-Sep-94
Fax : (031) 582-08798 16. Stock Split 210,000,000 29-Jan-96 29-Jan-96
17. Add. Listing without RI 247,000,000 03-Feb-06 03-Feb-06
Homepage : www.pakuwon.com 18. Add. Listing without RI (canceled) -247,000,000 20-Mar-06 20-Mar-06
Email : minarto@pakuwon.com 19. CB Conversion 22,705,000 21-Mar-06 21-Mar-06
20. CB Conversion 224,295,000 27-Mar-06 27-Mar-06
21. CB Conversion 876,577,000 08-Aug-06 08-Aug-06
22. Stock Split 6,174,308,000 19-Sep-07 19-Sep-07
23. Bonus Shares 2,315,365,500 22-Aug-08 22-Aug-08
24. Right Issue 2,006,650,100 02-Jan-12 02-Jan-12
25. Stock Split 36,119,701,800 30-Mar-12 30-Mar-12

TRADING ACTIVITIES
Pakuwon Jati Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
560 4,000 Jan-12 810 740 790 16,231 1,093,273 738,333 21
Feb-12 870 780 820 19,327 240,501 198,973 21
490 3,500 Mar-12 880 199 205 14,461 233,067 169,374 21
Apr-12 210 196 205 14,165 384,695 77,176 20
May-12 205 187 188 10,811 272,709 53,115 21
420 3,000
Jun-12 194 170 194 13,375 281,939 51,964 21
Jul-12 235 194 225 25,803 795,941 169,716 22
350 2,500
Aug-12 230 200 225 12,187 1,099,613 241,673 19
Sep-12 275 215 270 16,415 610,396 146,478 20
280 2,000
Oct-12 305 250 280 34,467 1,312,257 361,147 22
Nov-12 280 215 230 20,718 4,744,453 1,132,903 20
210 1,500 Dec-12 245 215 225 19,586 839,838 195,609 18
140 1,000 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
70 500 Mar-13 390 330 385 39,189 2,099,959 754,102 19
Apr-13 410 345 405 55,798 2,863,722 1,079,612 22
May-13 430 370 420 63,308 5,045,118 2,006,700 22
Jun-13 425 305 345 53,787 2,935,423 1,041,998 19
Jul-13 390 310 380 40,125 2,138,014 729,542 23
Aug-13 390 240 290 26,014 1,402,520 447,531 17
Sep-13 310 250 285 38,823 1,910,635 551,184 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-13 320 260 310 41,350 1,643,983 475,042 21
Property, Real Estate and Bulding Construction Index Nov-13 315 250 250 26,908 1,219,425 331,106 20
210%
Jan-14 340 261 307 48,959 976,326 299,281 20
180% Feb-14 355 303 330 45,367 1,135,771 374,607 20
Mar-14 392 323 350 52,428 1,413,058 511,373 20
150% Apr-14 392 338 352 61,363 1,702,129 622,424 20
135.8% May-14 408 353 408 43,214 1,025,350 388,372 18
120% Jun-14 400 337 349 36,740 791,084 293,337 21
Jul-14 449 344 415 50,717 1,380,171 550,046 18
103.1%
Aug-14 500 390 435 84,200 4,427,598 1,911,446 20
90%
Sep-14 445 391 404 77,849 2,110,045 890,296 22
Oct-14 450 376 450 63,633 1,644,833 684,270 23
60%
Nov-14 525 429 515 55,333 1,190,333 555,625 20
Dec-14 555 456 515 54,593 1,351,233 683,696 20
30%
19.6%
Jan-15 545 462 499 112,556 6,716,000 3,274,163 21
- Feb-15 565 481 550 69,429 2,561,866 1,316,795 19
Mar-15 555 486 515 85,765 2,978,488 1,509,847 22
-30% Apr-15 535 435 438 90,113 2,140,590 1,061,334 21
Jan 12 Jan 13 Jan 14 Jan 15 Jan 16 May-15 475 417 442 92,895 3,477,942 1,530,904 19
Jun-15 455 372 430 85,264 2,619,761 1,091,585 21
Jul-15 451 390 415 61,440 1,756,072 737,236 19
Volume (Million Sh.) 11,909 26,640 19,148 30,404 1,568 Sep-15 378 328 331 53,599 1,480,527 524,279 21
Value (Billion Rp) 3,536 8,934 7,765 13,785 723 Oct-15 464 329 426 78,340 2,154,735 876,440 21
Frequency (Thou. X) 218 480 674 892 70 Nov-15 468 408 461 54,174 1,081,725 481,291 21
Days 246 244 242 244 20 Dec-15 505 416 496 47,304 1,190,925 554,015 19
Price (Rupiah) Jan-16 505 418 448 69,744 1,567,648 723,416 20

High 880 430 555 565 505
Low 170 220 261 313 418
Close 225 270 515 496 448
Close* 225 270 515 496 448
PER (X) 14.14 11.48 14.14 18.93 17.10

PER Industry (X) 17.34 9.57 16.29 18.66 17.68
PBV (X) 3.46 3.17 4.57 2.53 2.28

Cash & Cash Equivalents 621,021 1,315,146 2,126,206 2,809,034 2,071,164 20,000
Receivables 116,796 138,509 166,915 303,348 301,528

3,121 1,262,136 1,051,081 1,671,766 2,254,347 16,000
Inventories
Investment 2,033,472 216 268,531 20,971 18,056
12,000
Fixed Assets 1,659,292 844,548 673,096 964,375 1,457,275
Other Assets 14 11 11 20,725 3,337
8,000
Total Assets 5,744,711 7,565,820 9,298,245 16,770,743 18,778,122
Growth (%) 31.70% 22.90% 80.36% 11.97% 4,000
Bank Payable 1,085,338 1,925,967 1,764,389 1,470,681 2,187,371 -

Growth (%) 31.43% 17.25% 63.36% 9.84%
Paid up Capital 1,203,990 1,203,990 1,203,990 1,203,990 1,203,990 8,988
8,283
Par Value 100 25 25 25 25 7,154

Total Equity 2,373,135 3,134,536 4,102,509 8,283,071 9,455,056
5,321
4,103
Growth (%) 32.08% 30.88% 101.90% 14.15% 3,135
2,373
3,487
Total Revenues 1,478,105 2,165,397 3,029,797 3,872,273 4,625,053

Growth (%) 46.50% 39.92% 27.81% 19.44%
-180
2011 2012 2013 2014 Dec-15
Cost of Revenues 743,405 931,477 1,264,879 1,714,248 1,956,525

Gross Profit 734,700 1,233,920 1,764,919 2,158,025 2,668,528
Operating Expenses 264,829 332,815 433,727 -701,281 1,243,386
Growth (%) 3,872

3,872
Other Income (Expenses) - - - - - 3,030

3,082
Income before Tax 469,871 901,105 1,331,192 2,859,306 1,425,142

2,165
Tax 91,339 134,609 194,644 260,165 24,588 2,292
1,478
Growth (%) 102.49% 48.28% 128.69% -46.11%

712
Comprehensive Income 378,531 766,496 1,136,548 2,597,079 1,408,606 2011 2012 2013 2014 Dec-15
Comprehensive Attributable 346,859 747,989 1,132,820 2,513,443 1,269,203
Dividend (Rp) 1.45 3.50 4.50 4.50 -
2,599
EPS (Rp) 28.81 15.53 23.52 52.23 26.20 2,599
BV (Rp) 197.11 65.09 85.19 171.99 196.33

DAR (X) 0.59 0.59 0.56 0.51 0.50 2,069
DER(X) 1.42 1.41 1.27 1.02 0.99 1,401

6.59 10.13 12.22 15.50 7.46
1,539
ROA (%) 1,137

ROE (%) 15.95 24.45 27.70 31.38 14.81 1,008
766
GPM (%) 49.71 56.98 58.25 55.73 57.70
379
OPM (%) - - - - - 478
NPM (%) 25.61 35.40 37.51 67.12 30.28

Payout Ratio (%) 5.03 22.53 19.13 8.62 -
-52
2011 2012 2013 2014 Dec-15

Yield (%) 0.19 1.56 1.67 0.87 -

COMPANY REPORT
SCMA
SURYA CITRA MEDIA TBK.
Company Profile

The Company was formed on 29 January 1999 to operate as a holding company for
multimedia services as well as consultancy services in the media and related business. The
main purpose behind its creation, however, was to broaden the horizons of PT Surya Citra
Televisi (SCTV), one of the largest TV broadcasting stations in Indonesia, today.
As a media broadcasting company, SCTV is restricted by law to operate solely and
exclusively as a broadcasting company for which it was licenced for. Yet, the business
prospects of an integrated multimedia services group are simply too promising to be
ignored.
Hence, the establishment of The Company signified the emergence of a highly prospective
multimedia group with longterm growth opportunities. The Company subsequently
acquired 100% share of SCTV over a period of time between November 2001 and April
2002, and went public in July 2002.
PT Elang Mahkota Teknologi Tbk. is the ultimate parent entity of the Company and its
subsidiaries.

Subsidiaries directly owned by the Company are as follows:
 PT Surya Citra Televisi (SCTV),
 PT Indosiar Visual Mandiri,
 PT Screenplay Produksi,
 PT Bangka Tele Vision,
 PT Surya Citra Pesona,
 PT Surya Trioptima Multikreasi,
 PT Surya Citra Gelora, and
 PT Indonesia Entertainmen Group.

As of 31 December 2015, the Company and Subsidiaries have 2,785 employees.

February 2016
Disclaimer:

SCMA Surya Citra Media Tbk.
Industry Sub Sector : Advertising, Printing And Media (95) Market Capitalization : 39,478,323,331,800
21 | 39.5T | 0.81% | 62.89%
40 | 9.97T | 0.73% | 72.75%

Established Date : 29-Jan-1999 1. PT Elang Mahkota Teknologi 8,914,176,761 : 60.97%
Under Writer IPO :
PT CLSA Indonesia DIVIDEND ANNOUNCEMENT
F/I
Plaza Central Building 2nd Fl. 2002 15.00 20-Aug-02 21-Aug-02 26-Aug-02 09-Sep-02 I
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 2002 30.00 01-Jul-03 02-Jul-03 04-Jul-03 18-Jul-03 F
Phone : (021) 252-5666 2003 5.00 05-Aug-04 06-Aug-04 10-Aug-04 25-Aug-04 F
2004 25.00 08-Dec-05 09-Dec-05 13-Dec-05 28-Dec-05 F
1. R. Soeyono 2006 8.00 15-Dec-06 18-Dec-06 20-Dec-06 05-Jan-07 I
2. Glenn Muhammad Surya Yusuf *) 2007 20.00 01-Aug-07 02-Aug-07 06-Aug-07 21-Aug-07 I
3. Jay Geoffrey Wacher 2007 8.00 10-Sep-08 11-Sep-08 15-Sep-08 29-Sep-08 F
4. R. Alvin Widarta Sariaatmadja 2008 40.00 16-Dec-08 17-Dec-08 19-Dec-08 08-Jan-09 F
5. Suryani Zaini *) 2008 130.00 19-Jun-09 22-Jun-09 24-Jun-09 07-Jul-09 F
2010 60.00 08-Nov-10 09-Nov-10 11-Nov-10 23-Nov-10 I
BOARD OF DIRECTORS 2010 225.00 27-Jun-11 28-Jun-11 01-Jul-11 12-Jul-11 F
1. Sutanto Hartono 2011 35.00 27-Jun-11 28-Jun-11 01-Jul-11 12-Jul-11 I
2. Harsiwi Achmad 2011 125.00 14-Jun-12 15-Jun-12 19-Jun-12 03-Jul-12 F
3. Imam Sudjarwo 2012 48.00 06-May-13 07-May-13 10-May-13 24-May-13 F
4. Rusmiyati Djajaseputra 2013 15.00 21-Nov-13 22-Nov-13 26-Nov-13 10-Dec-13 I
2013 51.00 18-Aug-14 19-Aug-14 21-Aug-14 04-Sep-14 F
AUDIT COMMITTEE 2014 70.00 28-Apr-15 29-Apr-15 04-May-15 21-May-15 F
1. Glenn Muhammad Surya Yusuf 2015 55.00 03-Dec-15 04-Dec-15 08-Dec-15 22-Dec-15 I
2. Emmanuel Bambang Suyitno
3. M. Risanggono Soemaryono ISSUED HISTORY
Listing Trading
Gilang Iskandar 1. First Issue 375,000,000 16-Jul-02 16-Jul-02
2. First Issue (Green Shoe) 56,250,000 16-Jul-02 16-Jul-02
HEAD OFFICE 3. Company Listing 1,443,750,000 T: 16-Jul-02 : 28-Feb-03
SCTV Tower -Senayan City 4. Warrant 18,750,000 05-Mar-03 05-Mar-03
Jln. Asia Afrika Lot. 19 5. ESOP Conversion 56,250,000 T: 23-May-08 : 14-Jun-12
Jakarta 10270 6. Stock Splits 7,800,000,000 29-Oct-12 29-Oct-12
Phone : (021) 279-35599 7. Merger with IDKM 4,871,601,234 01-May-13 01-May-13
Fax : (021) 279-35598
Homepage : www.scm.co.id
Email : gilang.iskandar@indosiar.com

TRADING ACTIVITIES
Surya Citra Media Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,200 800 Jan-12 9,600 7,850 9,300 712 6,653 57,811 20
Feb-12 9,400 8,400 8,700 589 8,775 77,400 20
3,675 700 Mar-12 8,900 8,050 8,050 900 16,027 136,459 21
Apr-12 8,500 7,950 8,500 568 21,942 184,003 20
May-12 9,500 8,000 8,950 1,139 87,104 752,304 21
3,150 600
Jun-12 10,200 8,500 9,500 627 9,114 82,791 19
Jul-12 11,050 9,450 10,350 1,960 116,666 1,168,577 22
2,625 500
Aug-12 10,500 9,850 9,900 842 10,523 107,052 19
Sep-12 11,000 9,850 11,000 1,809 13,824 143,872 20
2,100 400
Oct-12 11,150 1,950 1,950 1,481 20,626 134,399 22
Nov-12 2,375 1,970 2,175 1,712 131,821 278,835 20
1,575 300 Dec-12 2,400 2,100 2,250 1,865 71,973 164,575 18
1,050 200 Jan-13 2,500 2,175 2,375 2,844 74,017 168,664 21

Feb-13 2,975 2,150 2,575 7,347 114,123 268,789 20
525 100 Mar-13 2,925 2,450 2,775 5,901 158,946 415,150 19
Apr-13 2,950 2,625 2,800 4,171 177,045 482,182 20
May-13 3,125 2,625 2,900 7,102 224,109 651,217 22
Jun-13 2,950 2,250 2,725 8,696 192,983 503,785 19
Jul-13 2,925 2,300 2,675 7,002 124,551 329,380 23
Aug-13 3,000 2,300 2,500 5,905 140,977 378,417 17
Sep-13 2,750 2,300 2,550 7,547 167,051 421,739 21
175%
Jan-14 2,750 2,530 2,650 24,535 120,592 313,839 20
150% Feb-14 2,805 2,410 2,805 46,992 310,886 785,287 20
Mar-14 3,300 2,700 3,200 60,060 357,086 1,066,820 20
125% Apr-14 3,415 3,000 3,150 45,515 201,924 655,546 20
May-14 3,415 3,015 3,170 31,337 256,918 813,709 18
100% Jun-14 3,615 3,100 3,585 30,599 387,714 1,298,374 21
Jul-14 3,900 3,250 3,800 41,264 519,179 1,817,851 18
Aug-14 4,200 3,690 4,110 55,141 696,177 2,697,996 20
75%
66.7% Sep-14 4,190 3,725 3,825 46,879 173,175 681,805 22
Oct-14 3,935 3,325 3,380 79,426 339,658 1,192,961 23
50%
Nov-14 3,485 3,055 3,210 60,418 320,661 1,054,759 20
33.4% Dec-14 3,510 3,190 3,500 40,549 921,781 3,194,315 20
25%
18.1%
Jan-15 3,730 3,205 3,415 62,923 408,147 1,407,805 21
- Feb-15 4,040 3,325 3,650 72,671 383,350 1,392,435 19
Mar-15 3,680 3,150 3,395 70,054 418,705 1,451,881 22
-25% Apr-15 3,470 2,710 2,900 55,063 425,381 1,395,129 21
Jun-15 3,700 2,750 2,875 52,981 236,568 693,372 21
Jul-15 3,130 2,800 2,950 40,018 146,752 432,260 19
Volume (Million Sh.) 515 2,475 4,606 3,374 236 Sep-15 2,845 2,470 2,740 43,883 189,189 491,120 21
Days 242 242 242 244 20 Dec-15 3,185 2,950 3,100 47,180 197,277 603,671 19
Price (Rupiah) Jan-16 3,320 2,625 2,700 56,917 235,608 681,337 20

High 11,150 3,125 4,200 4,040 3,320
Low 1,950 2,150 2,410 2,285 2,625
Close 2,250 2,625 3,500 3,100 2,700
Close* 2,250 2,625 3,500 3,100 2,700
PER (X) 24.03 29.99 34.72 29.75 25.91

PER Industry (X) 19.08 15.42 22.13 12.43 12.79
PBV (X) 10.02 13.76 16.34 13.28 11.56

Cash & Cash Equivalents 716,717 927,423 1,043,283 1,246,109 685,722 5,000
Receivables 627,045 721,898 1,014,685 1,291,374 1,411,872

164,427 222,674 374,639 462,439 532,656 4,000
Inventories
Current Assets 1,534,252 1,917,041 2,570,167 3,200,366 2,843,500
3,000
Fixed Assets 328,681 326,717 724,970 761,978 962,114
Other Assets 17,323 17,729 22,115 27,969 29,919
2,000
Total Assets 2,511,222 2,893,172 4,010,166 4,728,436 4,565,964
Growth (%) 15.21% 38.61% 17.91% -3.44% 1,000

Total Liabilities 1,006,950 704,733 1,220,709 1,250,248 1,152,288
Growth (%) -30.01% 73.22% 2.42% -7.84%
Paid up Capital 483,602 487,500 731,080 731,080 731,080 3,821
3,478 3,414
2,789
Par Value 250 50 50 50 50
3,042
Retained Earnings 467,143 1,136,538 184,867 2,432,821 2,100,622 2,188

2,262
Total Equity 1,504,271 2,188,439 2,789,457 3,478,188 3,413,676

1,504
Growth (%) 45.48% 27.46% 24.69% -1.85% 1,483
Total Revenues 2,306,735 2,240,085 3,694,748 4,055,702 4,237,980

Growth (%) -2.89% 64.94% 9.77% 4.49%
-76
2011 2012 2013 2014 Dec-15
Cost of Revenues - - - - -
Gross Profit - - - - 4,237,980
Expenses (Income) 1,083,940 1,035,222 1,935,962 2,138,831 2,223,431
4,056
Growth (%) -1.47% 45.97% 8.99% 5.10% 4,056
3,695
Other Income (Expenses) -19,447 -5,396 5,309 221 23,918

3,228
1,203,347 1,199,467 1,764,095 1,917,092 2,038,467 2,307 2,240

Income before Tax 2,401
Tax 290,760 286,455 448,139 468,818 513,470

Growth (%) 0.05% 40.84% 12.63% 5.06%

746
Period Attributable 912,705 913,013 1,280 1,453,644 1,523,524 -81
Comprehensive Attributable 912,705 913,013 1,280 1,453,644 1,540,528
Current Ratio (%) 157.88 460.66 364.20 390.69 330.46
1,522
Dividend (Rp) 160.00 48.00 66.00 70.00 55.00 1,448
1,286
1,448
EPS (Rp) 471.83 93.64 0.09 99.42 104.20

BV (Rp) 777.64 224.46 190.78 237.88 233.47 1,153
DAR (X) 0.40 0.24 0.30 0.26 0.25 913 913
DER(X) 0.67 0.32 0.44 0.36 0.34

857
ROA (%) 36.34 31.56 32.07 30.63 33.32 562
ROE (%) 60.67 41.72 46.10 41.64 44.57

GPM (%) - - - - 100.00 266
OPM (%) 53.01 53.79 47.60 47.26 47.54

NPM (%) 39.56 40.76 34.80 35.71 35.90
-29
2011 2012 2013 2014 Dec-15

Payout Ratio (%) 33.91 51.26 75,411.53 70.41 52.78
Yield (%) 2.04 2.13 2.51 2.00 1.77

COMPANY REPORT
SILO
SILOAM INTERNATIONAL HOSPITALS TBK.
Company Profile

PT Siloam International Hospitals Tbk. established under the name PT Sentralindo Wirasta
dated August 3, 1996. The scope of the Company's main activity is in the field of public health
services, including establishing and / or acquire and manage hospitals, clinics, maternity
homes, facilities and supporting infrastructure pre healthcare, organizing and
implementation of health care and organizing public health care insurance.

The Company started commercial operations in 2010 after the restructuring of hospital units
PT Lippo Karawaci Tbk. The main activity of the Company is engaged in the field of public
health services are set up and manage a hospital. Work area hospital units of the Company
and its Subsidiaries include several towns on the island of Sumatra, Java, Bali, Kalimantan
and Sulawesi. The Company is the parent company of PT Megapratama Karya Persada with
the last of the parent entity is PT Lippo Karawaci Tbk. As of December 31st, 2015, the
Company and its subsidiaries have 6,974 employees.

The company owns directly or indirectly subsidiaries are PT Aritasindo Permaisemesta, PT
Perdana Kencana Mandiri, PT Multiselaras Anugerah, PT Nusa Medika Perkasa, PT Siloam
Graha Utama and Subsidiaries, PT East Jakarta Medika, PT Guchi Kencana Emas and
Subsidiaries, PT Golden First Atlanta, PT Prawira Tata Semesta and Subsidiaries, PT
Balikpapan Damai Husada, PT Siloam Emergency Services, PT Medika Harapan Cemerlang
Indonesia, PT Pancawarna Semesta and Subsidiaries, PT Diagram Healthcare Indonesia, PT
Adamanisa Karya Sejahtera, PT Brenada Karya Bangsa, PT Harmoni Selaras Indah, PT Kusuma
Primadana and Subsidiaries, PT Adijay a Buana Sakti dan Entitas Anak PT Siloam Sumsel
Kemitraan, PT RS Siloam Hospital Sumsel, PT Optimum Karya Persada, PT Rosela Indah Cipta,
PT Sembada Karya Megah, PT Trijaya Makmur Bersama, PT Visindo Galaxi Jaya, PT Tunggal
Pilar Perkasa and Subsidiaries, PT Tirtasari Kencana, PT Gramari Prima Nusa, PT Krisolis Jaya
Mandiri, PT Kusuma Bhakti Anugerah, PT Agung Cipta Raya, PT Bina Cipta Semesta, PT Mega
Buana Bhakti, PT Taruna Perkasa Megah, PT Tataka Bumi Karya, PT Tataka Karya Indah, PT
Siloam Medika Cemerlang, PT Koridor Usaha Maju and Subsidiaries, PT Medika Sarana
Traliansia and Subsidiaries, PT Trisaka Reksa Waluya, PT Berlian Cahaya Indah, PT Mahkota
Buana Selaras, PT Rashal Siar Cakra Medika, PT Genta Ray a Internusa, PT Indah Kemilau
Abadi, PT Inti Pratama Medika, PT Karya Pesona Cemerlang, PT Mulia Pratama Cemerlang,
PT Persada Dunia Semesta, PT Sentra Sehat Sejahtera.
February 2016
Disclaimer:

SILO Siloam International Hospitals Tbk. [S]
Industry Sub Sector : Healthcare (96) Market Capitalization : 10,433,802,500,000
68 | 10.4T | 0.21% | 81.70%
21 | 15.8T | 1.16% | 55.42%

Established Date : 03-Aug-1996 1. PT Megapratama Karya Persada 699,000,000 : 60.46%
Listing Date : 12-Sep-2013 2. Public (<5%) 457,100,000 : 39.54%
Under Writer IPO :
PT Ciptadana Securities DIVIDEND ANNOUNCEMENT
F/I
PT Sharestar Indonesia Year Shares Dividend Cum Date Ex Date Date Date
Berita Satu Plasa 7th Fl. 2014 5.20 26-May-15 27-May-15 29-May-15 18-Jun-15 F
Jln. Jend. Gatot Subroto Kav. 35-36, Jakarta 12950
BOARD OF COMMISSIONERS 1. First Issue 156,100,000 12-Sep-13 12-Sep-13
1. Lee Heok Seng 2. Company Listing 1,000,000,000 12-Sep-13 12-Sep-13
2. Farid Harianto *)
3. Jenny Kuistono
4. Jonathan L. Parapak *)
5. Niel Byron Nielson *)
6. Theo L. Sambuaga
BOARD OF DIRECTORS
1. Romeo Fernandez Lledo
2. Anang Prayudi
3. Andry
4. Budi Raharjo Legowo
5. Caroline Riady
6. George Mathew
7. Grace Frelita Indradjaja
8. Kailas Nath Raina
9. Norita Alex
AUDIT COMMITTEE
1. Farid Harianto
2. Lie Kwang Tak
3. Siswanto Pramono
CORPORATE SECRETARY
Cindy Riswantyo
HEAD OFFICE
Siloam Hospitals, 5th Fl.
Jln. Siloam No. 6, Lippo Village
Tangerang 15811
Phone : (021) 256-68000
Fax : (021) 546-0075
Homepage : www.siloamhospitals.com
Email : corporate.secretary@siloamhospitals.com

TRADING ACTIVITIES
Siloam International Hospitals Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
Price* September 2013 - January 2016 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
18,000 160 Sep-13 11,000 9,050 10,400 6,040 110,105 1,098,723 13
Oct-13 11,050 9,950 10,150 5,130 175,460 1,838,018 21
15,750 140 Nov-13 10,350 9,050 9,600 2,776 68,670 674,356 20
Dec-13 9,700 9,250 9,500 1,293 81,196 773,923 18
13,500 120
Jan-14 9,650 9,200 9,625 4,505 139,774 1,335,343 20
Feb-14 10,550 9,500 10,500 6,310 233,380 2,325,902 20
11,250 100
Mar-14 11,400 9,550 10,300 9,465 262,183 2,781,056 20
Apr-14 11,000 9,400 11,000 7,308 271,019 2,886,239 20
9,000 80
May-14 15,000 11,000 15,000 5,769 250,496 3,134,771 18
Jun-14 15,150 13,950 14,450 5,181 149,703 2,187,636 21
6,750 60 Jul-14 15,000 13,100 14,300 5,816 84,216 1,200,511 18
Aug-14 15,950 14,000 15,075 6,452 95,928 1,454,766 20
4,500 40 Sep-14 17,500 14,700 15,025 11,156 116,205 1,813,276 22
Oct-14 15,500 13,125 13,775 5,972 41,486 590,341 23
2,250 20 Nov-14 15,400 12,800 13,625 6,991 44,745 637,273 20
Dec-14 14,700 13,375 13,700 5,539 28,758 403,657 20
Jan-15 14,000 13,000 13,400 4,003 38,835 525,611 21

Sep-13 Mar-14 Sep-14 Mar-15 Sep-15
Feb-15 13,700 11,875 12,225 10,078 170,719 2,111,214 19
Mar-15 13,950 12,100 13,400 11,484 163,986 2,151,398 22
Apr-15 14,425 11,775 14,200 15,284 101,180 1,334,178 21
Closing Price*, Jakarta Composite Index (IHSG) and May-15 15,775 13,525 14,100 11,773 35,093 515,396 19
Trade, Sevices and Investment Index Jun-15 14,725 12,900 14,400 9,926 55,724 777,670 21
September 2013 - January 2016 Jul-15 16,900 13,750 16,550 11,867 86,497 1,309,069 19
105% Aug-15 17,100 13,300 15,100 14,693 89,557 1,357,868 20
Sep-15 16,125 11,875 12,375 15,726 93,451 1,396,429 21
90% Oct-15 12,800 10,600 10,900 24,524 171,992 2,127,918 21
Nov-15 10,900 8,600 9,350 29,218 91,906 886,800 21
75% Dec-15 10,100 9,200 9,800 14,987 65,835 641,116 19
60% Jan-16 9,775 8,525 9,025 11,368 132,257 1,222,054 20
45%
30%
15%
5.9%
- 2.5%
-6.5%
-15%
Sep 13 Mar 14 Sep 14 Mar 15 Sep 15
SHARES TRADED 2013 2014 2015 Jan-16

Volume (Million Sh.) 435 1,718 1,165 132
Value (Billion Rp) 4,385 20,751 15,135 1,222
Frequency (Thou. X) 15 80 174 11
Days 72 242 244 20
Price (Rupiah)
High 11,050 17,500 17,100 9,775
Low 9,050 9,200 8,600 8,525
Close 9,500 13,700 9,800 9,025
Close* 9,500 13,700 9,800 9,025
PER (X) 220.23 218.72 160.94 148.21

PER Industry (X) 15.42 22.13 12.43 12.79
PBV (X) 6.70 9.38 6.51 6.00

Cash & Cash Equivalents 168,708 515,438 279,959 159,848 3,000
Receivables 187,067 270,802 392,646 575,227

75,352 94,831 105,858 140,434 2,400
Inventories
Current Assets 456,737 907,465 840,797 956,093
1,800
Fixed Assets 865,292 1,402,270 1,589,307 1,553,307
Other Assets 33,310 - 13,398 3,263
1,200
Total Assets 1,586,226 2,600,775 2,844,086 2,986,270
Growth (%) 63.96% 9.36% 5.00% 600
Current Liabilities 267,633 295,921 478,163 629,788 -

Long Term Liabilities 1,073,752 665,862 712,254 616,530 2012 2013 2014 2015
Total Liabilities 1,341,585 961,783 1,190,417 1,246,319
Growth (%) -28.31% 23.77% 4.70%
Authorized Capital 400,000 400,000 400,000 400,000 1,740
1,639 1,654
Paid up Capital 100,000 115,610 115,610 115,610 1,740
Paid up Capital (Shares) 1,000 1,156 1,156 1,156

Par Value 100 100 100 100
1,385
Retained Earnings 156,238 206,109 268,677 364,490

1,030
Total Equity 244,641 1,638,992 1,653,669 1,739,952

Growth (%) 569.96% 0.90% 5.22% 675
245
Total Revenues 1,788,083 2,503,600 3,340,793 4,144,118

Growth (%) 40.02% 33.44% 24.05%
-35
2012 2013 2014 2015
Cost of Revenues 1,343,268 1,844,902 2,388,731 2,967,572

Gross Profit 444,815 658,698 952,062 1,176,547
Expenses (Income) 353,346 580,013 818,210 1,018,481
Operating Profit 91,468 78,685 133,852 158,066 4,144
Growth (%) -13.98% 70.11% 18.09%

4,144
3,341
3,299
Other Income (Expenses) -14,447 -6,924 -40,346 -52,319 2,504

Income before Tax 77,022 71,761 93,506 105,747 2,453
1,788
Tax 25,062 21,569 33,799 44,041
Profit for the period 51,960 50,192 59,707 61,706 1,608
Growth (%) -3.40% 18.96% 3.35%

763
Period Attributable 50,461 49,870 62,569 70,396 -83
Comprehensive Income 51,960 50,192 59,707 86,133 2012 2013 2014 2015
Comprehensive Attributable 50,461 49,870 62,569 95,106
Current Ratio (%) 170.66 306.66 175.84 151.81
62
60
Dividend (Rp) - - 5.20 - 62
52
EPS (Rp) 50.46 43.14 54.12 60.89 50
BV (Rp) 244.64 1,417.69 1,430.39 1,505.02 49
DAR (X) 0.85 0.37 0.42 0.42

5.48 0.59 0.72 0.72
37
DER(X)
ROA (%) 3.28 1.93 2.10 2.07 24
ROE (%) 21.24 3.06 3.61 3.55

GPM (%) 24.88 26.31 28.50 28.39 11
OPM (%) 5.12 3.14 4.01 3.81

NPM (%) 2.91 2.00 1.79 1.49
-1
2012 2013 2014 2015

Payout Ratio (%) - - 9.61 -
Yield (%) - - 0.04 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
SMGR
SEMEN INDONESIA (PERSERO) TBK.
Company Profile
PT Semen Indonesia (Persero) Tbk. was established on March 25th, 1953 The Company
commenced commercial operations on August 7, 1957. The Company's controlling
shareholder is the Government of the Republic of Indonesia.

The scope of activities of the Company in accordance with the Articles of Association and
being carried out during the reporting period is to engage in the cement industry. The
Company’s and its subsidiaries’ cement plants are located in Gresik and Tuban in East Java,
Indarung in West Sumatera, Pangkep in South Sulawesi and Quang Ninh in Vietnam. The
Group' products are marketed domestically and internationally.

As of December 31st, 2015, the Company and its subsidiaries had 6,981 employees.

The subsidiaries of the company are established as Strategic Tools, in order to give the
maximum contributions. In addition, their existence is expected to incur beneficial synergy
in order to achieve the purpose in accordance with the stipulated core business. Below are
the subsidiaries of the company:
 PT Semen Padang,  PT SGG Energi Prima,
 PT Sepatim Batamtama,  PT SGG Prima Beton,
 PT Bima Sepaja Abadi,  PT Krakatau Semen Indonesia,
 PT Semen Tonasa,  PT Sinergi Informatika Semen Indonesia,
 PT Semen Gresik,  Thang Long Cement Joint Stock Company,
 PT United Tractors Semen Gresik,  Thang Long Cement Joint Stock Company 2,
 PT Industri Kemasan Semen Gresik,  An Phu Cement Joint Stock Company.
 PT Kawasan Industri Gresik,

In 2014 The Company obtain an award given by the Economic News media through the
"Living Legend Company & Everlasting Brand Award 2014". This award is a token of
appreciation for businesses both SOEs and private companies that have existed for more
than 50 years and has a good performance. Assessment of these companies is done not
only in terms of age and performance, but also innovation and strategy in the face of crisis.
February 2016
Disclaimer:

SMGR Semen Indonesia (Persero) Tbk. [S]
Industry Sub Sector : Cement (31) Market Capitalization : 65,543,296,000,000
12 | 65.5T | 1.34% | 53.08%
14 | 20.7T | 1.51% | 46.07%

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
Securities Administration Bureau : 1996 147.87 08-Jul-97 09-Jul-97 18-Jul-97 15-Aug-97 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. Hadi Waluyo *) 2005 267.51 18-Jul-05 19-Jul-05 21-Jul-05 01-Aug-05
4. Marwanto Harjowirjono 2005 443.12 21-Jul-06 24-Jul-06 26-Jul-06 09-Aug-06 F
5. Muchammad Zaidun *) 2006 1,092.06 19-Jul-07 20-Jul-07 24-Jul-07 07-Aug-07 F
6. Sony Subrata 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. Suparni 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. Aunur Rosyidi 2013 407.42 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
5. Gatot Kustyadji 2014 375.34 23-Apr-15 24-Apr-15 28-Apr-15 20-May-15 F
6. Johan Samudra
7. Rizkan Chandra ISSUED HISTORY
Listing Trading
AUDIT COMMITTEE No. Type of Listing Shares Date Date
1. Hadi Waluyo 1. First Issue 40,000,000 08-Jul-91 08-Jul-91
2. Achmad Jazidie 2. Partial Listing 30,000,000 08-Jul-91 17-May-92
3. Elok Tresnaningsih 3. Company Listing 78,288,000 02-Jun-95 02-Jun-95
4. Sahat Pardede 4. Right Issue 444,864,000 10-Aug-95 10-Aug-95
5. Stock Split 5,338,368,000 07-Aug-07 07-Aug-07
CORPORATE SECRETARY
Agung Wiharto
HEAD OFFICE
The East Tower, 18th Fl., Jln. Dr. Ide Anak Agung Gde Agung
Kav. E.3.2 No. 1, Jakarta - 12950
Semen Gresik Main Building, Jln. Veteran, Gresik 61122
Phone : (021) 526-11745, (031) 398-17312
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 56.0 Jan-12 12,950 10,750 11,300 31,022 210,657 2,414,273 21
Feb-12 11,700 10,400 11,250 29,475 290,757 3,283,417 21
17,500 49.0 Mar-12 12,650 11,050 12,250 23,712 156,721 1,871,958 21
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
15,000 42.0
Jun-12 11,650 9,900 11,300 24,678 150,083 1,665,904 21
Jul-12 13,600 11,250 12,950 25,606 178,845 2,139,748 22
12,500 35.0
Aug-12 13,500 11,700 12,400 24,809 148,524 1,869,739 19
Sep-12 14,550 12,100 14,450 22,738 153,409 2,076,999 20
10,000 28.0
Oct-12 15,300 14,000 14,900 20,580 167,042 2,442,691 22
Nov-12 15,300 14,200 14,800 19,316 158,215 2,325,714 20
7,500 21.0 Dec-12 16,950 14,400 15,850 33,063 183,180 2,785,728 18
5,000 14.0 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
2,500 7.0 Mar-13 19,050 16,750 17,700 33,701 163,665 2,914,490 19
Apr-13 19,000 17,550 18,400 30,277 174,546 3,160,011 22
May-13 19,150 17,800 18,000 34,933 170,557 3,163,710 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
Aug-13 16,100 11,350 12,600 48,611 218,078 2,926,645 17
Sep-13 16,100 12,000 13,000 58,179 271,286 3,754,482 21
Basic Industry and Chemicals Index Nov-13 14,450 12,500 12,800 40,588 214,362 2,844,746 20
75%
Jan-14 15,900 13,775 14,200 55,849 192,064 2,808,267 20
60% Feb-14 15,275 13,500 15,000 52,652 170,519 2,515,811 20
Mar-14 17,400 14,600 15,800 61,774 237,643 3,743,636 20
45% Apr-14 17,050 14,800 14,850 69,330 235,917 3,757,029 20
May-14 16,050 14,175 14,725 66,131 273,242 4,131,554 18
30% Jun-14 15,475 14,700 15,075 53,891 171,469 2,598,357 21
Jul-14 17,150 14,950 16,575 58,210 200,012 3,265,081 18
18.1% Aug-14 16,900 16,100 16,225 55,142 133,507 2,210,220 20
15%
Sep-14 16,500 14,700 15,425 60,859 164,556 2,624,106 22
Oct-14 16,325 14,500 15,875 73,117 161,075 2,483,215 23
- -0.5%
-1.1% Nov-14 16,350 15,000 16,000 45,771 109,742 1,736,450 20
Dec-14 16,800 15,350 16,200 62,239 123,648 2,004,124 20
-15%
Jan-15 16,475 13,950 14,575 86,580 270,215 4,033,800 21

-30% Feb-15 15,150 14,350 14,875 52,352 153,045 2,256,306 19
Mar-15 14,950 12,525 13,650 70,512 170,929 2,401,500 22
-45% Apr-15 13,875 12,400 12,500 56,978 172,031 2,302,086 21
Jun-15 13,575 11,800 12,000 46,571 92,958 1,178,852 21
Jul-15 12,350 9,900 10,100 55,477 119,013 1,330,665 19
Days 246 244 242 244 20 Dec-15 11,500 10,275 11,400 55,352 119,304 1,300,428 19
Price (Rupiah) Jan-16 11,475 10,000 11,050 57,333 159,850 1,708,818 20

High 16,950 19,150 17,400 16,475 11,475
Low 9,900 11,350 13,500 7,100 10,000
Close 15,850 14,150 16,200 11,400 11,050
Close* 15,850 14,150 16,200 11,400 11,050
PER (X) 19.09 15.63 17.63 14.96 14.50

PER Industry (X) 9.79 6.83 16.60 5.33 6.00
PBV (X) 5.18 3.85 4.09 2.46 2.39

Receivables 1,864,177 2,522,529 2,916,062 3,432,557 3,628,641

2,006,660 22,849,053 2,645,893 2,811,704 2,408,974 31,000
Inventories
Current Assets 7,646,145 8,231,297 9,972,110 11,648,545 10,538,704
23,250
Fixed Assets 11,640,692 16,794,115 18,862,518 20,221,067 25,167,683
Other Assets 18,029 54,223 224,136 326,264 360,109
15,500
Total Assets 19,661,603 26,579,084 30,792,884 34,314,666 38,153,119
Growth (%) 35.18% 15.85% 11.44% 11.19% 7,750

Growth (%) 66.73% 6.83% 3.60% 15.04%
Paid up Capital 593,152 593,152 593,152 593,152 593,152 27,441
25,002
Par Value 100 100 100 100 100
21,843
18,165
16,245
Total Equity 14,615,097 18,164,855 21,803,976 25,002,452 27,440,798

Growth (%) 24.29% 20.03% 14.67% 9.75% 10,647
Total Revenues 16,378,794 19,598,248 24,501,241 26,987,035 26,948,004

Growth (%) 19.66% 25.02% 10.15% -0.14%
-549
2011 2012 2013 2014 2015
Cost of Revenues 8,891,868 10,300,667 13,557,147 15,388,431 16,302,008

Gross Profit 7,486,926 9,297,581 10,944,094 11,598,604 10,645,996
Expenses (Income) 2,594,794 3,116,058 4,023,694 4,507,838 4,795,073
Operating Profit 4,892,131 6,181,524 - - - 26,987 26,948
24,501
Growth (%) 26.36%
26,987
21,482 19,598
Other Income (Expenses) 197,821 105,931 - - - 16,379
Tax 1,134,680 1,360,814 1,566,101 1,517,189 1,325,482

10,471
Growth (%) 24.56% 8.68% 4.10% -18.81%

4,966
Current Ratio (%) 264.65 170.59 188.24 220.90 159.70
5,574
5,354
Dividend (Rp) 330.89 367.74 407.42 375.34 -
4,927
5,574
EPS (Rp) 661.79 817.20 905.37 938.35 762.28 4,525

BV (Rp) 2,463.97 3,062.43 3,675.95 4,215.18 4,626.27 4,437
3,955
DAR (X) 0.26 0.32 0.29 0.27 0.28

0.35 0.46 0.41 0.37 0.39
3,300
DER(X)
ROA (%) 20.12 18.54 17.39 16.24 11.86 2,163
ROE (%) 27.06 27.12 24.56 22.29 16.49

GPM (%) 45.71 47.44 44.67 42.98 39.51 1,026
OPM (%) 29.87 31.54 - - -

NPM (%) 24.15 25.14 21.85 20.65 16.79
-111
2011 2012 2013 2014 2015

Payout Ratio (%) 50.00 45.00 45.00 40.00 -
Yield (%) 2.89 2.32 2.88 2.32 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
SMRA
SUMMARECON AGUNG TBK.
Company Profile
PT Summarecon Agung Tbk. was founded in 1975 to undertake real estate construction
and development. The Company’s scope of activities engaged in the field of real estate
development as well as supporting facilities and operating within the services and trade.
Currently, the scope of the company's business is engaged in the sales / leasing of real
estate, shopping centers, office facilities, as well as a means supporting. The Company
started commercial operations in 1976. PT Semarop Agung was the last of the parent
entity of the Company.
Summarecon's business units are now grouped into three distinct activities :
1. Property Development
Property Development is Summarecon's core business. This business unit develops
property products for sale such as residential house, apartment, landplots and commercial
shoplots. These property projects are integral to the development of a township's
residential and commercial development and include supporting facilities such as
education facilities, sports and recreation, places of worship and healthcare facilities.
2. Property Investment and Management
This business unit develops properties which are retained and leased out, particularly retail
shopping malls. The revenue stream from shopping malls and other rental properties
provide stable and consistent recurring incomes to the company. In each township
development is an area designated as a central business district wherein a shopping mall
will provide for full range of facilities that meets the needs of modern society.
3. Leisure, Hospitality and Others
Summarecon is also developing other properties including offices which are intended for
own corporate use, hotels and residential buildings to further support facilities in its
township.
To ensure the availabilty of ready‐to‐develop land, company has been continuously
acquiring land for potential future developments in existing locations and in any new
strategic/potential locations. Our current available landbank are more than 1,500 ha
(existing and new location). Company also strengthening the business portfolio by
developing the investment properties, leisure and hospitality that will provide a consistent
stream of recurring revenues. The Company and Subsidiaries had 2,328 permanent
employees at December 31, 2015.
February 2016
Disclaimer:

SMRA Summarecon Agung Tbk. [S]
38 | 20.8T | 0.43% | 72.86%
26 | 15.0T | 1.10% | 60.96%

Established Date : 26-Nov-1975 1. PT Semarop Agung 1,855,985,872 : 12.86%
Listing Date : 07-May-1990 2. PT Semarop Agung 1,812,802,632 : 12.57%
Under Writer IPO : 3. PT Sinarmegah Jayasentosa 942,080,224 : 6.53%
PT Danareksa Sekuritas 4. BNYM SA/NV AS Cust of Stichtin 810,000,000 : 5.61%
PT Multicor 5. Public (<5%) 9,005,912,952 : 62.42%
PT Sirca Datapro Perdana DIVIDEND ANNOUNCEMENT
Jln. Johar No. 18 Bonus Cash Recording Payment
F/I
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) 314-0185, 390-0652, 390-0671 1991 142.00 16-Jul-92 17-Jul-92 24-Jul-92 24-Aug-92 F
1992 60.00 13-Jul-93 14-Jul-93 21-Jul-93 31-Jul-93 F
1. Soetjipto Nagaria 1993 2:1 16-Feb-94 17-Feb-94 24-Feb-94 23-Mar-94 B
2. Edi Darnadi *) 1993 50 : 3 62.00 22-Jul-94 25-Jul-94 01-Aug-94 01-Sep-94 F
3. Esther Melyani Homan *) 1994 2:1 125.00 15-Dec-94 16-Dec-94 23-Dec-94 16-Jan-95 I
4. Harto Djojo Nagaria 1994 89.00 21-Jul-95 24-Jul-95 01-Aug-95 30-Aug-95 F
*) Independent Commissioners 1995 100 : 4 20.00 09-Jul-96 10-Jul-96 18-Jul-96 16-Aug-96 F
1996 11.00 28-Jul-97 29-Jul-97 06-Aug-97 04-Sep-97 F
BOARD OF DIRECTORS 1996 100 : 3 28-Jul-97 29-Jul-97 06-Aug-97 04-Sep-97 S
1. Adrianto Pitoyo Adhi 2000 25.00 24-Jul-01 25-Jul-01 01-Aug-01 20-Aug-01 F
2. Ge Lilies Yamin 2001 30.00 15-Jul-02 16-Jul-02 19-Jul-02 02-Aug-02 F
3. Herman Nagaria 2001 10 : 1 15-Jul-02 16-Jul-02 19-Jul-02 02-Aug-02 F
4. Lexy Arie Tumiwa 2002 10.00 15-Jul-03 16-Jul-03 18-Jul-03 21-Jul-03 F
5. Liliawati Rahardjo 2003 15.00 16-Jul-04 19-Jul-04 21-Jul-04 04-Aug-04 F
6. Sharif Benyamin 2005 18.00 18-Jul-05 19-Jul-05 20-Jul-05 03-Aug-05
7. Soegianto Nagaria 2005 15.00 13-Jul-06 14-Jul-06 18-Jul-06 01-Aug-06 F
8. Yong King Ching 2005 5:2 13-Jul-06 14-Jul-06 18-Jul-06 01-Aug-06 S
2006 13.00 08-Jun-07 11-Jun-07 13-Jun-07 27-Jun-07 I
AUDIT COMMITTEE 2007 11.00 21-May-08 22-May-08 26-May-08 09-Jun-08 F
1. Edi Darnadi 2008 3.00 30-Jun-09 01-Jul-09 03-Jul-09 17-Jul-09 F
2. Leo Andi Mancianno 2009 8.00 27-May-10 31-May-10 02-Jun-10 15-Jun-10 F
3. Neneng Martini 2010 10.00 28-Jun-11 30-Jun-11 04-Jul-11 18-Jul-11 I
2011 23.00 27-Jun-12 28-Jun-12 02-Jul-12 16-Jul-12 F
CORPORATE SECRETARY 2012 1:1 43.00 26-Jun-13 27-Jun-13 01-Jul-13 15-Jul-13 B
Michael Yong 2013 23.00 10-Jul-14 11-Jul-14 15-Jul-14 05-Aug-14 F
HEAD OFFICE ISSUED HISTORY

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

TRADING ACTIVITIES
Summarecon Agung Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,000 720 Jan-12 1,400 1,170 1,200 6,429 134,454 169,578 21
Feb-12 1,320 1,100 1,290 7,872 229,937 286,861 21
1,750 630 Mar-12 1,610 1,250 1,570 9,064 274,582 391,369 21
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
1,500 540
Jun-12 1,620 1,370 1,620 7,451 150,482 226,314 21
Jul-12 1,700 1,530 1,620 7,648 137,647 221,865 22
1,250 450
Aug-12 1,660 1,380 1,470 7,030 113,212 178,266 19
Sep-12 1,690 1,470 1,680 7,395 122,714 195,074 20
1,000 360
Oct-12 1,750 1,610 1,750 5,768 222,532 373,493 22
Nov-12 2,000 1,730 1,920 9,139 188,716 349,843 20
750 270 Dec-12 2,100 1,820 1,900 11,641 180,261 349,136 18
500 180 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
250 90 Mar-13 2,525 2,150 2,475 11,644 264,854 626,267 19
Apr-13 2,675 2,150 2,600 14,632 373,884 882,856 22
May-13 3,050 2,550 2,800 18,664 314,882 885,175 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
Aug-13 1,070 660 780 27,271 870,003 779,300 17
Sep-13 1,050 690 930 29,817 1,024,278 909,108 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-13 1,140 880 1,050 30,037 896,981 898,351 21
Property, Real Estate and Bulding Construction Index Nov-13 1,080 780 900 19,911 566,805 507,534 20
January 2012 - January 2016 Dec-13 960 750 780 14,769 369,297 319,726 19
245%
Jan-14 980 745 955 27,739 484,736 434,071 20
210% Feb-14 1,085 910 1,005 32,185 680,056 676,697 20
Mar-14 1,180 980 1,065 27,115 528,787 573,389 20
175% Apr-14 1,150 940 1,110 26,857 587,245 633,586 20
May-14 1,305 1,080 1,255 19,968 420,392 515,282 18
140% Jun-14 1,270 1,090 1,135 21,300 275,513 325,634 21
136.9%
Jul-14 1,405 1,095 1,350 41,560 757,675 977,499 18
Aug-14 1,415 1,270 1,340 32,205 483,471 646,706 20
105% 103.1%
Sep-14 1,350 1,195 1,220 40,295 662,162 836,334 22
Oct-14 1,310 1,040 1,260 34,690 627,001 749,899 23
70%
Nov-14 1,475 1,220 1,460 29,571 458,840 615,277 20
Dec-14 1,615 1,300 1,520 29,385 550,649 842,088 20
35%
19.6% Jan-15 1,760 1,470 1,650 40,621 660,999 1,064,832 21
- Feb-15 1,880 1,605 1,815 33,126 505,458 887,016 19
Mar-15 1,835 1,585 1,720 64,624 1,055,330 1,768,316 22
-35% Apr-15 1,975 1,705 1,780 120,547 998,159 1,851,732 21
Jun-15 1,975 1,560 1,635 67,292 728,188 1,287,622 21
Jul-15 1,815 1,600 1,740 45,986 341,149 585,689 19
Volume (Million Sh.) 2,879 6,799 6,517 9,191 566 Sep-15 1,640 950 1,120 78,406 894,023 1,149,029 21
Value (Billion Rp) 4,594 9,117 7,826 15,247 855 Oct-15 1,695 1,095 1,395 63,272 811,318 1,134,834 21
Days 246 244 242 244 20 Dec-15 1,665 1,415 1,650 44,026 360,941 561,552 19
Price (Rupiah) Jan-16 1,645 1,405 1,445 49,545 566,338 855,165 20

High 2,100 3,050 1,615 2,000 1,645
Low 1,100 660 745 950 1,405
Close 1,900 780 1,520 1,650 1,445
Close* 950 780 1,520 1,650 1,445
PER (X) 17.30 10.21 18.61 27.84 24.38

PER Industry (X) 17.34 9.57 16.29 18.66 17.68
PBV (X) 3.59 2.42 4.00 3.16 2.77

Receivables 82,776 138,931 275,967 85,514 152,036

2,741,082 2,819,764 3,058,266 3,103,252 4,924,807 16,000
Inventories
Investment 1,929,125 3,699 284,282 - -
12,000
Fixed Assets 304,427 282,418 351,832 366,762 420,472
Other Assets 254,769 - 67,756 144,088 167,750
8,000
Total Assets 8,099,175 10,876,387 13,659,137 15,379,479 18,758,262
Growth (%) 34.29% 25.59% 12.59% 21.97% 4,000
Bank Payable 841,780 822,823 1,911,032 2,698,704 3,721,447 -

Growth (%) 25.59% 27.48% 4.28% 19.62%
Paid up Capital 687,314 721,339 1,442,678 1,442,678 1,442,678 7,316

Par Value 100 100 100 100 100 5,823
4,658
3,815
Total Equity 2,477,100 3,815,400 4,657,667 5,992,636 7,529,750
4,331
Growth (%) 54.03% 22.08% 28.66% 25.65% 2,839

2,477
Total Revenues 2,359,331 3,463,163 4,093,789 5,333,593 5,623,561

Growth (%) 46.79% 18.21% 30.28% 5.44%
-146
2011 2012 2013 2014 Dec-15
Cost of Revenues 1,312,185 1,871,176 1,943,287 2,545,542 2,716,756

Gross Profit 1,047,145 1,591,987 2,150,503 2,788,051 2,906,805
Operating Expenses 482,671 581,085 803,365 929,013 1,115,408
5,334
Growth (%) 79.09% 33.26% 38.00% -3.64% 5,334
4,094
4,246
3,463
Income before Tax 530,916 986,395 1,319,425 1,684,099 1,382,183 3,157
Tax 142,209 194,309 223,537 296,582 318,103 2,359
Growth (%) 103.77% 38.35% 26.61% -23.31%

981
Period Attributable 392,019 797,814 1,102,177 1,398,294 855,186 -107
Comprehensive Attributable 392,019 787,814 1,102,177 1,398,294 877,547
Dividend (Rp) 23.00 43.00 23.00 - -
1,388
EPS (Rp) 57.04 110.60 76.40 96.92 59.28 1,388
BV (Rp) 360.40 528.93 322.85 415.38 521.93 1,096 1,064

DAR (X) 0.69 0.65 0.66 0.61 0.60 1,104
DER(X) 2.27 1.85 1.93 1.57 1.49 792

4.80 7.28 8.02 9.02 5.67
821
ROA (%)
ROE (%) 15.69 20.76 23.53 23.15 14.13
389
538
GPM (%) 44.38 45.97 52.53 52.27 51.69

OPM (%) 23.93 29.19 32.91 34.86 31.86 255
NPM (%) 16.48 22.87 26.77 26.01 18.92

Payout Ratio (%) 40.33 38.88 30.11 - -
-28
2011 2012 2013 2014 Dec-15

Yield (%) 1.85 2.26 2.95 - -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
SRIL
SRI REJEKI ISMAN TBK.
Company Profile

PT Sri Rejeki Isman Tbk. was established dated May 22, 1978 in Surakarta. The scope of
major activities of the Company consists of spinning, weaving, dyeing, printing, finishing of
fabric and manufacturing of garments. The Company started its commercial operations in
1978.

The Company’s vision is to be the largest, most reputable and trusted global textile and
garment producer. The Biggest Integrated Vertical – Textile Garment Producer In South East
Asia. Sritex has achieved a global recognition & serves 55 countries worldwide

Sritex, currently exports 48 percent of its products to around 30 countries in Asia, including
Papua New Guinea and Timor Leste, the Middle East, including the UAE and Qatar, Europe,
including Germany, Sweden, Norway and the Netherlands, the US and Africa. For further
expand market, Sritex will export to at least five more countries in a bid to boost its total
revenues by a minimum 10 percent this year.

Sritex’s versatility has enabled it to penetrate the international fashion market with its top‐
notch international high‐fashion clientele of more than 100 household name brands.
Sritex’s client list include prominent players in the fashion scene all across the globe, from
children’s lines, retailers such as Walmart and Sears, to big fashion lines such as Guess,
H&M and many more. High quality translates to high customer retention, a lot of Sritex’s
customer returns to Sritex and becomes partners to develop their products and design.

Ecological protection is the key driver behind Sritex’s innovation on waste water treatment.
Sritex continuously improves its technologies of waste water treatment in aiding the
process of residual waste and to ensure its accordance to the international environmental
regulations.
The Company have 2 direct ownership subsidiaries, PT Sinar Pantja Djaja and Golden Legacy
Pte. Ltd., and Indirect subsidiary is Golden Mountain Textile and Trading Pte. Ltd. As of
December 31, 2015, the Company and its Subsidiary had a total number of 17,862
employees.
February 2016
Disclaimer:

SRIL Sri Rejeki Isman Tbk.
Industry Sector : Miscellaneous Industry (4) Listed Shares : 18,592,888,040
Industry Sub Sector : Textile, Garment (43) Market Capitalization : 4,945,708,218,640
131 | 4.95T | 0.10% | 90.96%
24 | 15.2T | 1.11% | 58.76%

Established Date : 22-May-1978 1. PT Huddleston Indonesia 10,425,274,040 : 56.07%
Listing Date : 17-Jun-2013 2. PT Prudential Life Assurance-Ref 1,275,820,700 : 6.86%
PT Bahana Securities
PT Adimitra Jasa Korpora Bonus Cash Recording Payment
F/I
Rukan Kirana Boutique Office Year Shares Dividend Cum Date Ex Date Date Date
Jln. Kirana Avenue III Blok F3 No. 5, Kelapa Gading, Jakarta Utara 2013 2.00 30-Jun-14 01-Jul-14 03-Jul-14 18-Jul-14 F
Phone : (021) 2974-5222 2014 .00043027 06-Jul-15 07-Jul-15 09-Jul-15 31-Jul-15 F
Fax :
ISSUED HISTORY
BOARD OF COMMISSIONERS Listing Trading
1. Susyana Lukminto No. Type of Listing Shares Date Date
2. Megawati 1. First Issue 5,600,000,000 17-Jun-13 17-Jun-13
3. Sudjarwadi *) 2. Company Listing 12,992,888,040 17-Jun-13 17-Jun-13
BOARD OF DIRECTORS
1. Iwan Setiawan
2. Allan Moran Severino
3. Arief Halim
4. Eddy Prasetyo Salim
5. Iwan Kurniawan Lukminto
6. M. Nasir Tamara Tamimi
7. Phalguni Mukhopadyay
AUDIT COMMITTEE
1. Sudjarwadi
2. lda Bagus Oka Nila
3. Yose Rizal
CORPORATE SECRETARY
Welly Salam
HEAD OFFICE
Jln. K.H. Samanhudi 88
Jetis, Sukoharjo
Jawa Tengah
Phone : (0271) 593-188, 593-888, 593-488
Fax : (0271) 593-488
Homepage : www.sritex.co.id
Email : welly.salam@sritex.co.id; welly_salam@yahoo.com
istanto@sritex.co.id
cmo@sritex.co.id

TRADING ACTIVITIES
Sri Rejeki Isman Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
Price* June 2013 - January 2016 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
480 3,200 Jun-13 290 200 240 4,338 3,348,240 805,220 10
Jul-13 240 196 240 2,927 410,603 89,744 23
420 2,800 Aug-13 330 225 275 9,513 1,311,972 351,578 17
Sep-13 305 235 245 7,534 872,011 227,117 21
Oct-13 290 240 265 5,520 606,148 161,184 21
360 2,400
Nov-13 275 240 250 5,281 713,199 185,761 20
Dec-13 275 225 245 5,400 651,303 159,427 19
300 2,000
Jan-14 303 230 296 9,644 905,583 240,642 20

240 1,600
Feb-14 296 241 257 15,670 948,067 249,258 20
Mar-14 291 182 222 48,617 2,164,168 482,506 20
180 1,200 Apr-14 230 186 190 43,182 734,908 149,198 20
May-14 219 190 204 21,379 803,788 164,944 18
120 800 Jun-14 210 173 179 11,540 309,003 59,782 21
Jul-14 186 150 157 14,895 484,811 81,768 18
60 400 Aug-14 178 152 152 22,042 784,219 127,886 20
Sep-14 167 127 129 35,591 1,391,467 195,194 22
Oct-14 173 120 167 22,637 1,145,391 168,265 23
Nov-14 182 140 172 36,199 1,935,546 311,164 20
Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 Dec-15
Dec-14 172 151 163 31,612 979,420 158,637 20
Jan-15 180 149 155 26,148 1,994,729 315,639 21

Closing Price*, Jakarta Composite Index (IHSG) and Feb-15 166 148 153 28,613 2,051,613 319,408 19
Miscellaneous Industry Index Mar-15 270 152 229 167,822 8,131,661 1,742,646 22
June 2013 - January 2016 Apr-15 279 229 271 112,951 7,701,622 1,977,162 21
100% May-15 350 271 339 114,262 3,327,174 1,073,958 19
Jun-15 349 269 303 104,878 2,929,507 934,877 21
80% Jul-15 497 304 470 231,373 8,903,014 3,580,929 19
Aug-15 495 283 325 244,239 6,980,305 2,660,259 20
60% Sep-15 417 316 384 93,795 2,335,340 844,763 21
Oct-15 417 366 379 50,890 918,404 362,221 21
40% Nov-15 398 323 372 49,201 727,982 269,862 21
Dec-15 395 350 389 78,428 1,176,910 450,095 19
20%
Jan-16 417 256 266 162,832 3,099,188 1,029,980 20
6.4%
-
-3.3%
-13.0%
-20%
-40%
-60%
Jun 13 Dec 13 Jun 14 Dec 14 Jun 15 Dec 15

Volume (Million Sh.) 7,913 12,586 47,178 3,099
Value (Billion Rp) 1,980 2,389 14,532 1,030
Frequency (Thou. X) 41 313 1,303 163
Days 131 242 244 20
Price (Rupiah)
High 330 303 497 417
Low 196 120 148 256
Close 245 163 389 266
Close* 245 163 389 266
PER (X) 14.71 8.58 9.42 6.44

PER Industry (X) 13.91 14.44 3.24 3.78
PBV (X) 1.96 1.19 1.89 1.30

Public Accountant : Tanubrata Sutanto Fahmi & Rekan (Member of BDO International Limited)
Cash & Cash Equivalents 74,440 1,014,831 1,130,591 11,500
Receivables 741,126 1,607,225 1,497,681

1,458,638 1,362,611 1,990,249 9,200
Inventories
Current Assets 2,342,148 4,005,530 4,736,230
6,900
Fixed Assets 3,047,672 4,011,821 6,461,933
Other Assets 15,982 51,636 -
4,600
Total Assets 5,590,982 8,691,096 11,481,513
Growth (%) 55.45% 32.11% 2,300
Current Liabilities 2,232,337 751,756 984,296 -

Long Term Liabilities 1,039,045 5,041,546 6,441,022 2013 2014 Dec-15
Total Liabilities 3,271,382 5,793,302 7,425,318
Growth (%) 77.09% 28.17%
Authorized Capital 5,000,000 5,000,000 5,000,000 4,056
Paid up Capital 1,859,289 1,859,289 1,859,289 3,909
Paid up Capital (Shares) 18,593 18,593 18,593

100 100 100 2,898
Par Value 3,112
Retained Earnings 333,784 945,521 1,792,408 2,320

Total Equity 2,319,599 2,897,795 4,056,195
2,314
Growth (%) 24.93% 39.98% 1,517
Total Revenues 4,714,576 6,897,287 9,116,561

Growth (%) 46.30% 32.18%
-78
2013 2014 Dec-15
Cost of Revenues 3,696,164 5,374,885 7,161,091

Gross Profit 1,018,412 1,522,402 1,955,470
Expenses (Income) 350,516 348,920 517,779
Operating Profit 667,896 1,173,481 1,437,692 9,117
Growth (%) 75.70% 22.52% 8,304
6,897
Other Income (Expenses) -205,071 -353,213 -491,074
6,897
Income before Tax 462,825 820,269 946,618 5,490

4,715
Tax 133,657 192,022 130,752 4,083
Profit for the period 309,603 628,210 815,866

Growth (%) 102.91% 29.87%
2,676
1,269
Period Attributable 309,603 556,631 815,824 -138
Comprehensive Income 309,603 556,594 810,329 2013 2014 Dec-15

Comprehensive Attributable 309,603 556,631 810,281
Current Ratio (%) 104.92 532.82 481.18
816
Dividend (Rp) 2.00 - -
EPS (Rp) 16.65 29.94 43.88
756
628
BV (Rp) 124.76 155.86 218.16 628
DAR (X) 0.59 0.67 0.65 500
DER(X) 1.41 2.00 1.83

310
ROA (%) 5.54 7.23 7.11
372
ROE (%) 13.35 21.68 20.11 244
GPM (%) 21.60 22.07 21.45 116
OPM (%) 14.17 17.01 15.77

NPM (%) 6.57 9.11 8.95
-13
2013 2014 Dec-15

Payout Ratio (%) 12.01 - -
Yield (%) 0.82 - -

COMPANY REPORT
SSMS
SAWIT SUMBERMAS SARANA TBK.
Company Profile

PT Sawit Sumbermas Sarana Tbk. was established in Jakarta dated November 22, 1995. The
scope of Company’s activities is agriculture, trade, and industry.

The Company commenced its commercial operations in 2005. The company is primarily
involved in the operations of oil palm plantations and a palm oil mill which produces crude
palm oil and palm kernel with processing capacities of 90 MT of fresh fruit bunches (FFB) per
hour. On April 12, 2013, the Company has started the production of the second palm oil mill
with processing capacities of 60 MT per hour. The oil palm plantation and both palm oil mill
are located in Arut Selatan, Kotawaringin Barat, Central Kalimantan.

As of September 30th, 2015, the Company and its subsidiaries have 4,988 permanent
employees.

The Company’s ownership interests in the consolidated subsidiaries, are as follows:
 PT Kalimantan Sawit Abadi,
 PT Mitra Mendawai Sejati,
 PT Sawit Mandiri Lestari,
 PT Ahmad Saleh.

February 2016
Disclaimer:

SSMS Sawit Sumbermas Sarana Tbk. [S]
41 | 18.9T | 0.39% | 74.06%
8 | 32.0T | 2.34% | 34.93%

Established Date : 22-Nov-1995 1. PT Citra Borneo Indah 2,520,000,000 : 26.46%
Listing Date : 12-Dec-2013 2. PT Mandiri Indah Lestari 1,300,000,000 : 13.65%
Under Writer IPO : 3. PT Prima Sawit Borneo 1,300,000,000 : 13.65%
PT BNP Paribas Securities Indonesia 4. PT Putra Borneo Agro Lestari 1,300,000,000 : 13.65%
PT Mandiri Sekuritas 5. SSB Rua1 S/A Falcon Private Bank Ltd.- 2144606729 802,500,000 : 8.43%
PT RHB OSK Securities Indonesia 6. Jemmy Adriyanor 564,926,400 : 5.93%
Securities Administration Bureau : 7. Public (<5%) 1,737,573,600 : 18.24%
PT Datindo Entrycom
Wisma Sudirman - Puri Datindo DIVIDEND ANNOUNCEMENT
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 Bonus Cash Recording Payment
F/I
Phone : (021) 570-9009 Year Shares Dividend Cum Date Ex Date Date Date
Fax : (021) 570-9026 2014 22.65 24-Apr-15 27-Apr-15 29-Apr-15 21-May-15 F
BOARD OF COMMISSIONERS ISSUED HISTORY

1. Bungaran Saragih Listing Trading
2. Marzuki Usman *) No. Type of Listing Shares Date Date
*) Independent Commissioners 1. First Issue 1,500,000,000 12-Dec-13 12-Dec-13
2. Company Listing 8,025,000,000 12-Dec-13 12-Dec-13
BOARD OF DIRECTORS
1. Rimbun Situmorang
2. Harry Mohammad Nadir
3. Ramzi Sastra
4. Vallauthan Subraminam
AUDIT COMMITTEE
1. Marzuki Usman
2. Wahyudi Susanto
3. Zulfitry Ramdan
CORPORATE SECRETARY
Hadi Susilo
HEAD OFFICE
Equity Tower 43th Fl., Suite 43 D, SCBD Lot. 9
Jln. Jend. Sudirman Kav. 52-53
Jakarta 12190
Phone : (021) 2903-5401
Fax : (021) 2903-5405
Homepage : www.ssms.co.id
Email : hadi@ssms.co.id
corporate@ssms.co.id

TRADING ACTIVITIES
Sawit Sumbermas Sarana Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
Price* December 2013 - January 2016 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
2,400 1,600 Dec-13 850 670 820 40,829 1,031,455 790,493 11
2,100 1,400 Jan-14 940 780 840 90,546 1,525,166 1,313,401 20

Feb-14 1,000 795 995 124,186 1,968,412 1,819,170 20
Mar-14 1,105 970 1,035 151,752 2,801,526 2,882,007 20
1,800 1,200
Apr-14 1,215 1,035 1,200 124,281 1,499,197 1,678,780 20
May-14 1,330 1,185 1,245 109,941 1,336,469 1,694,579 18
1,500 1,000
Jun-14 1,305 1,230 1,245 138,806 853,528 1,084,394 21
Jul-14 1,290 1,130 1,265 96,713 850,674 1,029,194 18
1,200 800
Aug-14 1,360 1,245 1,305 95,927 994,842 1,280,910 20
Sep-14 1,450 1,255 1,265 191,666 1,626,852 2,252,941 22
900 600 Oct-14 1,285 970 1,245 132,232 1,118,780 1,343,498 23
Nov-14 1,490 1,105 1,460 121,970 1,046,976 1,364,530 20
600 400 Dec-14 1,700 1,430 1,665 73,625 953,444 1,460,547 20
300 200 Jan-15 1,735 1,605 1,650 106,690 964,382 1,624,413 21

Feb-15 2,005 1,635 1,985 96,459 880,303 1,547,313 19
Mar-15 2,040 1,950 1,990 90,903 1,051,135 2,095,972 22
Apr-15 2,185 1,855 1,900 81,703 1,050,938 2,146,096 21
Dec-13 Jun-14 Dec-14 Jun-15 Dec-15
May-15 2,425 1,895 2,350 74,128 1,594,465 3,350,131 19
Jun-15 2,350 1,755 1,845 74,060 1,405,027 2,645,755 21
Jul-15 2,035 1,830 1,965 84,049 2,452,024 4,652,566 19
Closing Price*, Jakarta Composite Index (IHSG) and Aug-15 1,980 1,560 1,615 57,854 1,261,217 2,300,148 20
Agriculture Index Sep-15 1,735 1,520 1,615 113,300 1,334,266 2,185,068 21
December 2013 - January 2016 Oct-15 2,050 1,620 1,900 142,293 1,408,432 2,616,336 21
245% Nov-15 1,970 1,555 1,580 113,733 1,563,679 2,706,985 21
Dec-15 2,050 1,555 1,950 101,789 1,696,965 2,861,298 19
210%
Jan-16 2,035 1,660 1,985 114,379 1,620,597 2,929,389 20
175% 175.7%
140%
105%
70%
35%
9.6%
-
-13.0%
-35%
Dec 13 Jun 14 Dec 14 Jun 15 Dec 15

Volume (Million Sh.) 1,031 16,576 16,663 1,621
Value (Billion Rp) 790 19,204 30,732 2,929
Frequency (Thou. X) 41 1,452 1,137 114
Days 11 242 244 20
Price (Rupiah)
High 850 1,700 2,425 2,035
Low 670 780 1,520 1,660
Close 820 1,665 1,950 1,985
Close* 820 1,665 1,950 1,985
PER (X) 13.54 25.60 38.71 39.40

PER Industry (X) 15.46 19.34 1.32 0.57
PBV (X) 3.37 5.78 6.43 6.54

Cash & Cash Equivalents 416,254 929,469 157,297 942,940 6,250
Receivables 23,408 199,500 160,673 208,428

99,053 45,809 67,667 198,428 5,000
Inventories
Current Assets 545,163 1,957,546 2,300,594 2,131,154
3,750
Fixed Assets 651,905 593,891 596,197 1,655,447
Other Assets 86,850 250,512 241,486 152,193
2,500
Total Assets 2,113,611 3,701,917 4,032,885 6,071,946
Growth (%) 75.15% 8.94% 50.56% 1,250
Current Liabilities 557,642 697,129 509,465 301,530 -

Long Term Liabilities 1,089,928 688,518 518,821 2,880,240 2012 2013 2014 Sep-15
Total Liabilities 1,647,570 1,385,647 1,028,286 3,181,770
Growth (%) -15.90% -25.79% 209.42%
Authorized Capital 1,500,000 3,210,000 3,210,000 3,200,000 3,005
2,890
Paid up Capital 412,500 952,500 952,500 952,500
Par Value 100 100 100 100
2,392
Retained Earnings 6,619 443,443 1,113,039 1,313,350

1,779
Total Equity 466,041 2,316,270 3,004,600 2,890,176

Growth (%) 397.01% 29.72% -3.81% 1,166
466
INCOME STATEMENTS Dec-11 Dec-12 Dec-13 Dec-14 Sep-15 553
Total Revenues 1,880,275 1,962,435 2,180,673 1,761,095

Growth (%) 4.37% 11.12%
-60
2012 2013 2014 Sep-15
Cost of Revenues 891,088 949,458 1,027,885 855,850

Gross Profit 989,187 1,012,977 1,152,788 905,246
Expenses (Income) 113,249 74,648 219,724 264,311
Operating Profit 875,938 938,329 933,065 640,934 2,181
1,962
7.12% -0.56%
2,181
Growth (%) 1,880

1,761
1,736
Other Income (Expenses) -110,764 -84,910 53,824 -156,325

Income before Tax 765,173 853,419 986,889 484,610 1,291
Tax 203,478 221,750 249,059 110,641

Profit for the period 561,695 631,669 737,830 373,969 846
Growth (%) 12.46% 16.81%

401
Period Attributable 473,980 576,824 719,097 359,907 -44
Comprehensive Income 344,844 631,669 737,830 430,104 2012 2013 2014 Sep-15
Comprehensive Attributable 337,535 576,824 719,097 394,737
Current Ratio (%) 97.76 280.80 451.57 706.78
738
Dividend (Rp) - - 22.65 - 738
632
EPS (Rp) 114.90 60.56 75.50 37.79
562
BV (Rp) 112.98 243.18 315.44 303.43 587
DAR (X) 0.78 0.37 0.25 0.52

374
3.54 0.60 0.34 1.10
437
DER(X)
ROA (%) 26.58 17.06 18.30 6.16 286
ROE (%) 120.52 27.27 24.56 12.94

GPM (%) 52.61 51.62 52.86 51.40 136
OPM (%) 46.59 47.81 42.79 36.39

NPM (%) 29.87 32.19 33.83 21.23
-15
2012 2013 2014 Sep-15

Payout Ratio (%) - - 30.00 -
Yield (%) - - 1.36 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
TBIG
TOWER BERSAMA INFRASTRUCTURE TBK.
Company Profile
PT Tower Bersama Infrastructure Tbk. (TBIG) was established dated 8 November 2004. TBIG
is a provider of telecommunications infrastructure for the placement of BTS by
telecommunications operators in Indonesia. TBIG is publicly listed on the Indonesian Stock
Exchange and is majority owned by Saratoga Capital and Provident Capital.

The business activities of the Company, among others are to carry on the business of
telecommunications support services including lease and maintenance of Base Transceiver
Station (BTS), consultation service and conducting investment or participation to other
companies. The Company started its business activities in 2004. Currently, the Company's
main activity is investing in subsidiaries

As one of the leading independent tower companies in Indonesia, we are pleased to
announce our strong financial and operational results for 2013. The Company organically
added 2,985 telecommunication tenants to our existing portfolio, which includes 1,811
telecommunication towers. This demonstrates our unique capability to execute on large
orders from our telecommunication customers.

The Company through subsidiaries has direct and indirect shareholding greater than 50% in
the following subsidiaries:
 PT Telenet Internusa,
 PT United Towerindo and subsidiary,
 PT Tower Bersama and subsidiaries,
 PT Tower One and subsidiary,
 PT Triaka Bersama,
 PT Metric Solusi Integrasi and subsidiary,
 PT Solusi Menara Indonesia,
 TBG Global Pte. Ltd. and subsidiary, and
 PT Menara Bersama Terpadu.
All subsidiaries are domiciled in Jakarta and their address is the same as the Company’s
address, except for TBG Global Pte. Ltd., which is domiciled in Singapore.

On 31 December 2015 the Company and subsidiaries employed 585 staffs.
February 2016
Disclaimer:

TBIG Tower Bersama Infrastructure Tbk.
Industry Sub Sector : Non Building Construction (75) Market Capitalization : 30,218,115,053,700
28 | 30.2T | 0.62% | 67.71%
42 | 9.38T | 0.68% | 74.12%

Established Date : 08-Nov-2004 1. PT Wahana Anugerah Sejahtera 1,319,871,198 : 27.52%
Listing Date : 26-Oct-2010 2. PT Provident Capital Indonesia 1,183,140,806 : 24.67%
Under Writer IPO : 3. JPMCC-SPO Partners II LP 313,567,243 : 6.54%
PT UBS Securities Indonesia 4. Public (<5%) 1,979,946,952 : 41.28%
PT Indo Premier Securities
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 2010 25.00 10-Jun-11 13-Jun-11 15-Jun-11 28-Jun-11 F
Phone : (021) 570-9009 2013 60.00 18-Sep-13 19-Sep-13 23-Sep-13 03-Oct-13 I
Fax : (021) 570-9026
ISSUED HISTORY
BOARD OF COMMISSIONERS Listing Trading
1. Edwin Soeryadjaya No. Type of Listing Shares Date Date
2. Herry Tjahjana *) 1. First Issue 551,111,000 26-Oct-10 26-Oct-10
3. Mustofa *) 2. Company Listing 4,005,588,889 26-Oct-10 26-Oct-10
4. Wahyuni Bahar *) 3. Additional Listing without RI 239,826,310 30-Jul-12 30-Jul-12
5. Winato Kartono
BOARD OF DIRECTORS
1. Herman Setya Budi
2. Budianto Purwahjo
3. Gusandi Sjamsudin
4. Hardi Wijaya Liong
5. Helmi Yusman Santoso
AUDIT COMMITTEE
1. Mustofa
2. Aria Kanaka
3. Ignatius Andy
CORPORATE SECRETARY
Helmy Yusman Santoso
HEAD OFFICE
Barclays House Building, 6th Fl.
Jln. Jenderal Sudirman Kav. 22 - 23
Jakarta 12920
Phone : (021) 571-1946, 292-48900
Fax : (021) 571-2344
Homepage : www.tower-bersama.com
Email : helmy@tower-bersama.com
corporate.secretary@tower-bersama.com

TRADING ACTIVITIES
Tower Bersama Infrastructure Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
10,000 560 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
8,750 490 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
7,500 420
Jun-12 3,400 2,975 3,275 5,533 124,903 401,083 21
Jul-12 4,000 3,250 3,925 4,930 141,729 505,148 22
6,250 350
Aug-12 4,200 3,700 3,875 5,661 133,336 522,447 19
Sep-12 4,500 3,800 4,450 4,660 116,837 476,198 20
5,000 280
Oct-12 5,100 4,375 5,000 5,902 88,890 417,510 22
Nov-12 6,150 4,975 6,000 5,911 416,777 2,362,432 20
3,750 210 Dec-12 6,000 5,250 5,700 6,240 297,474 1,705,845 18
2,500 140 Jan-13 6,350 5,350 5,900 8,721 83,157 485,791 21

Feb-13 5,950 5,200 5,600 10,457 142,992 791,870 20
1,250 70 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
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
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
Sep-13 6,100 5,200 5,850 15,926 78,464 440,692 21
Infrastructure, Utilities and Transportation Index Nov-13 6,500 5,600 6,000 20,908 231,330 1,417,115 20
315%
Jan-14 6,500 5,450 6,200 15,844 78,490 481,002 20
270% Feb-14 6,400 5,900 6,250 15,184 50,094 302,873 20
Mar-14 6,300 5,950 6,000 21,353 342,321 2,002,123 20
225% Apr-14 6,550 6,000 6,500 18,543 82,766 512,340 20
May-14 7,675 6,250 7,675 23,273 105,396 723,323 18
180% Jun-14 8,150 7,275 8,050 24,458 81,865 632,943 21
162.5% Jul-14 8,425 7,575 8,300 27,935 75,908 601,985 18
Aug-14 8,975 7,525 7,875 49,485 89,868 732,040 20
135%
Sep-14 8,500 7,750 8,000 48,615 175,440 1,430,263 22
Oct-14 8,900 7,275 8,900 36,163 166,436 1,376,488 23
90%
Nov-14 9,600 8,600 9,425 19,278 216,488 1,915,170 20
Dec-14 9,925 9,225 9,700 22,809 44,148 423,075 20
45% 42.3%
18.1% Jan-15 9,800 9,200 9,500 21,572 75,856 722,206 21
- Feb-15 9,550 8,400 9,275 27,789 116,548 1,036,455 19
Mar-15 9,650 9,050 9,475 28,788 61,723 571,884 22
-45% Apr-15 9,700 8,075 8,475 32,275 153,096 1,382,786 21
Jun-15 9,625 8,450 9,225 28,746 65,152 594,063 21
Jul-15 9,050 8,275 8,375 19,237 62,427 540,280 19
Days 246 244 242 244 20 Dec-15 6,425 5,650 5,875 24,258 62,572 372,996 19
Price (Rupiah) Jan-16 6,300 5,500 6,300 20,248 61,752 351,645 20

High 6,150 6,650 9,925 9,800 6,300
Low 2,325 4,450 5,450 5,650 5,500
Close 5,700 5,800 9,700 5,875 6,300
Close* 5,700 5,800 9,700 5,875 6,300
PER (X) 33.28 22.29 30.65 19.71 21.13

PER Industry (X) 17.53 12.11 20.04 15.24 14.31
PBV (X) 6.44 6.76 10.60 17.71 19.00

Public Accountant : Tanubrata Sutanto Fahmi & Rekan (Member of BDO International Limited)
Receivables 159,200 166,615 637,105 560,783 693,171

33,545 228,771 328,078 404,377 306,651 20,000
Inventories
Current Assets 1,186,268 2,301,229 2,598,596 3,152,206 2,605,510
15,000
Fixed Assets 383,713 87,100 219,516 473,559 534,039
Other Assets 5,246 4,699 4,151 7,091 6,464
10,000
Total Assets 6,880,206 14,317,483 18,719,211 22,034,082 22,799,671
Growth (%) 108.10% 30.74% 17.71% 3.47% 5,000
Current Liabilities 869,746 2,182,014 3,930,922 9,124,102 1,914,539 -

Growth (%) 141.25% 45.01% 22.58% 18.47%
Authorized Capital 1,442,012 1,442,012 1,442,012 1,442,012 1,442,012 4,245 4,114 4,131
Paid up Capital 455,670 479,653 479,653 479,653 479,653 4,245

Par Value 100 100 100 100 100
3,379
2,705
2,513
Total Equity 2,705,209 4,245,393 4,114,039 4,131,029 1,590,796

1,591
Growth (%) 56.93% -3.09% 0.41% -61.49% 1,647
Total Revenues 970,026 1,715,421 2,690,500 3,306,812 3,421,177

Growth (%) 76.84% 56.84% 22.91% 3.46%
-85
2011 2012 2013 2014 Dec-15
Cost of Revenues 143,262 263,837 395,796 509,820 448,910

Gross Profit 826,764 1,451,584 2,294,704 2,796,992 2,972,267
Expenses (Income) 119,278 171,195 242,434 291,688 311,423
3,307
Growth (%) 80.98% 60.28% 22.07% 6.21% 3,307
2,691
-194,538 -367,141 -874,894 -1,074,741 -1,571,647

2,632
Other Income (Expenses)

Income before Tax 512,948 913,248 1,177,376 1,430,563 1,089,197 1,958 1,715
Tax 20,600 -14,167 -174,148 58,459 -355,830
970
Growth (%) 88.37% 45.73% 1.52% 5.31%
608
Comprehensive Income 494,491 821,596 935,985 1,356,503 770,039 2011 2012 2013 2014 Dec-15
Comprehensive Attributable 476,411 745,869 858,498 1,289,300 747,381
Current Ratio (%) 136.39 105.46 66.11 34.55 136.09
1,445
Dividend (Rp) - - 60.00 - - 1,352 1,372
1,372
EPS (Rp) 104.10 175.53 260.19 271.34 298.11

BV (Rp) 593.68 885.10 857.71 861.25 331.66
927
1,092
DAR (X) 0.61 0.70 0.78 0.81 0.93

DER(X) 1.54 2.37 3.55 4.33 13.33 812
ROA (%) 7.16 6.48 7.22 6.23 6.34 492

532
ROE (%) 18.20 21.85 32.85 33.21 90.84

GPM (%) 85.23 84.62 85.29 84.58 86.88 252
OPM (%) 72.93 74.64 76.28 75.76 77.78

NPM (%) 50.76 54.06 50.23 41.49 42.24
-27
2011 2012 2013 2014 Dec-15

Payout Ratio (%) - - 23.06 - -
Yield (%) - - 1.03 - -

COMPANY REPORT
TLKM
TELEKOMUNIKASI INDONESIA
(PERSERO) TBK.
Company Profile
We are a state‐owned enterprise that operates in the telecommunications and network
services sector in Indonesia. We are subject to the prevailing laws and regulations in this
country. Given its status as a state‐owned enterprise whose shares are traded on the stock
market, the Government of the Republic of Indonesia is the Company’s majority
shareholder, while the remaind of the Company’s common stock is owned by the public.
The Company’s shares are traded on the Indonesia Stock Exchange (IDX) and the New York
Stock Exchange (NYSE).
As stated in our Articles of Association, our business is to provide telecommunications
networks and telecommunications and information services, and to optimize the
Company’s resources. To attain the aforementioned objectives, the Company may
undertake business activities that incorporate the following:
1. Main Business
a. To plan, build, deliver, develop, operate, marketor sell/lease, and maintain
telecommunications and information networks in the broadest sense with
respect to provisions of laws and regulations.
b. To plan, develop, deliver, market or sell and improve telecommunications and
information services in the broadest sense with respect to provisions of laws
and regulations.
2. Supporting Business
a. To provide payment transaction and remittance services via
telecommunications and information networks.
b. To carry out activities and other undertakings in respect of optimizing the
Company’s resources, among others the utilization of the Company’s property,
plant and equipment and movable assets, information system facilities,
education and training facilities and maintenance and repair facilities.
February 2016
Disclaimer:

TLKM Telekomunikasi Indonesia (Persero) Tbk. [S]
Industry Sub Sector : Telecommunication (73) Market Capitalization : 336,671,987,976,000
2 | 336.7T | 6.87% | 16.70%
4 | 69.7T | 5.09% | 22.26%

Established Date : 24-Sep-1991 1. Negara Republik Indonesia 51,602,353,560 : 51.19%
Under Writer IPO :
PT Bahana Securities DIVIDEND ANNOUNCEMENT
F/I
PT Makindo Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1995 24.48 07-Jun-96 10-Jun-96 18-Jun-96 17-Jul-96 F
PT Datindo Entrycom 1996 41.25 13-May-97 14-May-97 23-May-97 20-Jun-97 F
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 1998 50 : 4 24-Jun-99 25-Jun-99 05-Jul-99 02-Aug-99 B
1998 15.30 24-May-99 25-May-99 02-Jun-99 30-Dec-99 F
BOARD OF COMMISSIONERS 1999 53.88 26-Apr-00 27-Apr-00 05-May-00 22-May-00 F
1. Hendri Saparini 1999 53.88 09-Oct-00 10-Oct-00 18-Oct-00 01-Nov-00 F
2. Dolfie Othniel Fredric Palit 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. Margiyono Darsasumarja 2001 210.82 24-Jul-02 25-Jul-02 30-Jul-02 12-Aug-02 F
5. Pamiyati Pamela Johana Waluyo *) 2002 331.16 03-Jun-03 04-Jun-03 06-Jun-03 12-Jun-03 F
6. Parikesit Suprapto *) 2003 301.95 23-Aug-04 24-Aug-04 26-Aug-04 07-Sep-04 F
7. Rinaldi Firmansyah *) 2004 7.11 23-Dec-04 27-Dec-04 29-Dec-04 06-Jan-05 I
*) Independent Commissioners 2005 144.90 15-Jul-05 18-Jul-05 20-Jul-05 03-Aug-05
2005 218.86 21-Jul-06 24-Jul-06 26-Jul-06 09-Aug-06 F
BOARD OF DIRECTORS 2006 48.45 21-Dec-06 22-Dec-06 27-Dec-06 02-Jan-07 I
1. Alex Janangkih Sinaga 2006 254.76 20-Jul-07 23-Jul-07 25-Jul-07 08-Aug-07 F
2. Abdus Somad Arief 2007 48.45 29-Nov-07 30-Nov-07 04-Dec-07 18-Dec-07 I
3. Dian Rachmawan 2007 309.42 11-Jul-08 14-Jul-08 16-Jul-08 31-Jul-08 F
4. Herdy Rosadi Harman 2007 97.73 09-Oct-08 10-Oct-08 14-Oct-08 28-Oct-08 F
5. Heri Sunaryadi 2008 296.94 07-Jul-09 08-Jul-09 10-Jul-09 27-Jul-09 F
6. Honesti Basyir 2009 26.65 09-Dec-09 10-Dec-09 14-Dec-09 29-Dec-09 I
7. Indra Utoyo 2009 261.41 07-Jul-10 08-Jul-10 12-Jul-10 26-Jul-10 F
8. Muhamad Awaluddin 2010 26.75 22-Dec-10 23-Dec-10 28-Dec-10 11-Jan-11 I
2010 295.84 13-Jun-11 14-Jun-11 16-Jun-11 01-Jul-11 F
AUDIT COMMITTEE 2011 371.05 05-Jun-12 06-Jun-12 08-Jun-12 22-Jun-12 F
1. Rinaldi Firmansyah 2012 436.10 29-May-13 30-May-13 03-Jun-13 18-Jun-13 F
2. Dolfie Othniel Fredric Palit 2013 102.40 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
3. Parikesit Suprapto
4. Tjatur Purwadi ISSUED HISTORY
Listing Trading
Andi Setiawan 1. Negara RI (Seri A) 1 14-Nov-95 -
2. Negara RI (Seri B) (C/ L) 7,466,665,999 14-Nov-95 -
HEAD OFFICE 3. First Issue 933,333,000 14-Nov-95 14-Nov-95
Graha Merah Putih 5th Fl. 4. First Issue (LN) 700,000,000 14-Nov-95 14-Nov-95
Jln. Gatot Subroto No. 52 5. First Issue (divesment) 233,334,000 14-Nov-95 14-Nov-95
Jakarta 6. Bonus Shares 746,666,640 03-Aug-99 03-Aug-99
Phone : (021) 521-5109 7. Stock Split 10,079,999,640 28-Sep-04 28-Sep-04
Fax : (021) 522-0500 8. Stock Split 86,247,402,484 28-Aug-13 28-Aug-13
Homepage : www.telkom.co.id
Email : andi.setiawan@telkom.co.id

TRADING ACTIVITIES
Telekomunikasi Indonesia (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
3,400 3,200 Jan-12 7,150 6,800 6,850 26,490 422,690 2,940,995 21
Feb-12 7,100 6,650 7,050 23,979 479,535 3,300,302 21
2,975 2,800 Mar-12 7,150 6,700 7,000 23,842 362,222 2,513,536 21
Apr-12 8,700 7,050 8,500 25,908 657,218 5,090,323 20
May-12 8,500 7,000 7,800 29,209 662,037 5,266,928 21
2,550 2,400
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
2,125 2,000
Aug-12 9,850 8,750 9,300 28,777 440,719 4,056,309 19
Sep-12 9,750 9,150 9,450 25,722 367,817 3,476,829 20
1,700 1,600
Oct-12 9,950 9,300 9,750 22,276 560,211 5,407,450 22
Nov-12 9,900 8,950 9,000 25,831 426,698 3,999,309 20
1,275 1,200 Dec-12 9,350 8,650 9,050 32,515 516,125 4,636,997 18
850 800 Jan-13 9,800 8,800 9,700 36,521 503,515 4,706,492 21

Feb-13 10,950 9,550 10,750 33,202 490,700 4,847,559 20
425 400 Mar-13 11,150 10,250 11,000 48,503 431,788 4,644,566 19
Apr-13 12,500 10,400 11,700 47,977 628,400 7,176,984 22
May-13 12,900 11,050 11,050 53,417 600,206 7,142,391 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
Aug-13 12,200 1,980 2,200 55,347 800,356 5,440,892 17
Sep-13 2,450 1,950 2,100 88,615 3,130,995 6,767,447 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-13 2,375 2,100 2,350 73,248 2,393,760 5,401,091 21
Infrastructure, Utilities and Transportation Index Nov-13 2,350 2,025 2,175 71,880 2,327,085 5,106,312 20
140%
135.2%
Jan-14 2,275 2,060 2,275 73,661 2,046,978 4,477,865 20
120% Feb-14 2,420 2,170 2,325 89,854 2,341,555 5,388,836 20
Mar-14 2,340 2,130 2,215 138,480 3,078,227 6,852,057 20
100% Apr-14 2,380 2,150 2,265 92,955 2,509,934 5,764,026 20
May-14 2,700 2,275 2,575 85,833 2,521,242 6,220,057 18
80% Jun-14 2,550 2,405 2,465 85,531 5,009,842 12,180,200 21
Jul-14 2,710 2,465 2,650 86,242 2,002,276 5,218,503 18
Aug-14 2,800 2,590 2,665 105,961 2,532,990 6,865,678 20
60%
Sep-14 3,010 2,675 2,915 103,021 2,088,870 5,878,718 22
Oct-14 2,930 2,680 2,750 136,701 2,888,270 8,092,823 23
40% 42.3%
Nov-14 2,830 2,590 2,825 95,257 1,713,846 4,692,945 20
Dec-14 2,890 2,725 2,865 93,946 1,493,266 4,209,293 20
20% 18.1%
Jan-15 2,930 2,780 2,830 89,423 1,809,529 5,148,840 21
- Feb-15 3,020 2,800 2,935 110,113 2,270,639 6,527,476 19
Mar-15 2,995 2,770 2,890 119,901 2,438,708 7,127,764 22
-20% Apr-15 2,910 2,595 2,615 117,916 2,712,082 7,596,492 21
Jun-15 2,955 2,800 2,930 109,106 1,540,444 4,431,918 21
Jul-15 2,950 2,800 2,940 102,810 1,522,353 4,386,763 19
SHARES TRADED 2012 2013 2014 2015 Jan-16 Aug-15 2,970 2,590 2,870 142,706 2,079,634 5,899,128 20
Volume (Million Sh.) 5,788 15,741 30,227 23,627 2,368 Sep-15 2,875 2,485 2,645 108,224 1,393,722 3,782,598 21
Frequency (Thou. X) 318 706 1,187 1,341 135 Nov-15 2,980 2,660 2,930 100,904 1,724,444 4,878,723 21
Days 246 244 242 244 20 Dec-15 3,170 2,900 3,105 113,512 2,208,650 6,693,917 19
Price (Rupiah) Jan-16 3,385 3,045 3,340 134,592 2,367,503 7,527,167 20

High 9,950 12,900 3,010 3,170 3,385
Low 6,650 1,950 2,060 2,485 3,045
Close 9,050 2,150 2,865 3,105 3,340
Close* 1,810 2,150 2,865 3,105 3,340
PER (X) 9.92 15.26 18.92 20.21 21.74

PER Industry (X) 17.53 12.11 20.04 15.24 14.31
PBV (X) 2.72 2.80 3.57 3.35 3.60

Receivables 5,250,000 5,409,000 6,421,000 6,848,000 7,872,000

758,000 579,000 509,000 474,000 528,000 140,000
Inventories
Current Assets 21,258,000 27,973,000 33,075,000 33,762,000 47,912,000
105,000
Fixed Assets 74,897,000 77,047,000 86,761,000 94,809,000 103,700,000
Other Assets 12,000 - - - -
70,000
Total Assets 103,054,000 111,369,000 127,951,000 140,895,000 166,173,000
Growth (%) 8.07% 14.89% 10.12% 17.94% 35,000

Growth (%) 5.51% 13.82% 8.40% 32.82%
Paid up Capital 5,040,000 5,040,000 5,040,000 5,040,000 5,040,000 93,428
86,125
20,160 20,160 100,800 100,800 100,800 77,424
Paid up Capital (Shares)
66,978
Par Value 250 250 50 50 50
74,369
60,981
55,309
Total Equity 60,981,000 66,978,000 77,424,000 86,125,000 93,428,000

Growth (%) 9.83% 15.60% 11.24% 8.48% 36,250
Total Revenues 71,918,000 77,143,000 82,967,000 89,696,000 102,470,000

Growth (%) 7.27% 7.55% 8.11% 14.24%
-1,869
2011 2012 2013 2014 2015
Cost of Revenues - - - - -
Gross Profit - - - - -
Expenses (Income) 49,970,000 51,445,000 55,121,000 60,319,000 70,052,000
Growth (%) 8.36% 5.50% 10.35% 89,696

102,470
82,967
77,143
81,566
71,918
Other Income (Expenses) -1,091,000 -1,470,000 -697,000 -593,000 -1,076,000
Tax 5,387,000 -5,866,000 6,859,000 7,338,000 8,025,000

39,758
Growth (%) 18.69% 10.50% 5.70% 8.72%

18,854
Current Ratio (%) 95.80 116.04 116.31 106.22 135.29
23,317
Dividend (Rp) 371.05 436.10 102.40 - - 23,317
21,446
20,290
EPS (Rp) 543.90 637.40 140.92 145.22 153.66 18,362
BV (Rp) 3,024.85 3,322.32 768.10 854.41 926.87 18,560
15,470
DAR (X) 0.41 0.40 0.39 0.39 0.44
0.69 0.66 0.65 0.64 0.78
13,804
DER(X)
ROA (%) 15.01 16.49 15.86 15.22 14.03 9,047
ROE (%) 25.37 27.41 26.21 24.90 24.96

GPM (%) - - - - - 4,290
OPM (%) - 33.31 33.56 32.75 31.64

NPM (%) 21.51 23.80 24.46 23.91 22.75
-466
2011 2012 2013 2014 2015

Payout Ratio (%) 68.22 68.42 72.66 - -
Yield (%) 5.26 4.82 4.76 - -

COMPANY REPORT
UNTR
UNITED TRACTORS TBK.
Company Profile

PT United Tractors Tbk. was established on October 13th, 1972, under the name of PT Inter
Astra Motor Works, as heavy equipment distributor in Indonesia. The Company
commenced commercial operations in 1973.

The principal activities of the Company and its subsidiaries include sales and rental of
heavy equipment (Construction machineries) and related after sales services, coal mining
and mining contracting. Included in mining contracting is integrated mining contracting
service.

The Company is controlled by its immediate parent company PT Astra International Tbk, a
company incorporated in Indonesia. PT Astra International Tbk's largest shareholder is
Jardine Cycle & Carriage Ltd, a company incorporated in Singapore. Jardine Cycle &
Carriage Ltd is a subsidiary of Jardine Matheson Holdings Ltd, a company incorporated in
Bermuda.

The Company is domiciled in Jakarta with 20 branches, 22 site offices and 10
representative offices throughout Indonesia.

The company has direct ownership in domestic and foreign subsidiaries:
 PT Pamapersada Nusantara,
 PT United Tractors Pandu Engineering,
 PT Karya Supra Perkasa,
 PT Andalan Multi Kencana,
 PT Bina Pertiwi,
 UT Heavy Industry(S) Pte. Ltd.,
 PT Universal Tekno Reksajaya,
 PT Tambang Supra Perkasa,
 PT Unitra Persada Energia.

As of 31 December 2015, the Group had approximately 27,001 employees.
February 2016
Disclaimer:

UNTR United Tractors Tbk. [S]
Industry Sub Sector : Wholesale (Durable & Non-Durable Goods) (91) Market Capitalization : 64,904,351,366,400
T | 1.32% | 54.40%
19 | 17.2T | 1.25% | 53.08%

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 : 100.00%
Under Writer IPO :
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 525.00 From 11-Jun-90 until 28-Jun-91 F
Plaza Central Building 2nd Fl. 1991 175.00 20-Nov-91 21-Nov-91 28-Nov-91 12-Dec-91 I
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1991 175.00 12-Jun-92 15-Jun-92 22-Jun-92 22-Jul-92 F
Phone : (021) 252-5666 1992 70.00 11-Nov-92 12-Nov-92 19-Nov-92 15-Dec-92 I
1993 100.00 11-Nov-93 12-Nov-93 19-Nov-93 15-Dec-93 I
BOARD OF COMMISSIONERS 1993 1:3 23-Feb-94 24-Feb-94 03-Mar-94 01-Apr-94 B
2. Anugerah Pekerti *) 1994 40.00 11-Nov-94 16-Nov-94 23-Nov-94 15-Dec-94 I
3. David Alexander Newbigging 1994 70.00 22-Jun-95 23-Jun-95 03-Jul-95 31-Jul-95 F
4. Djoko Pranoto Santoso 1995 45.00 22-Nov-95 23-Nov-95 01-Dec-95 29-Dec-95 I
5. Nanan Sukarna *) 1995 85.00 20-Jun-96 21-Jun-96 01-Jul-96 31-Jul-96 F
6. Simon Collier Dixon 1996 60.00 21-Nov-96 22-Nov-96 02-Dec-96 27-Dec-96 I
*) Independent Commissioners 1996 100.00 26-Jun-97 27-Jun-97 07-Jul-97 28-Jul-97 F
1999 5:9 08-Jun-00 09-Jun-00 14-Jun-00 23-Jun-00 B
BOARD OF DIRECTORS 2004 20.00 30-Nov-04 01-Dec-04 03-Dec-04 17-Dec-04 I
1. Gidion Hasan 2005 35.00 23-Jun-05 22-Jun-05 27-Jun-05 11-Jul-05
2. Edhie Sarwono 2005 110.00 12-Jun-06 13-Jun-06 15-Jun-06 29-Jun-06 F
3. Idot Supriadi 2006 45.00 13-Oct-06 16-Oct-06 18-Oct-06 03-Nov-06 I
4. Iman Nurwahyu 2006 85.00 20-Jun-07 21-Jun-07 25-Jun-07 08-Jul-07 F
5. Iwan Hadiantoro 2007 60.00 10-Oct-07 11-Oct-07 18-Oct-07 01-Nov-07 I
6. Loudy Irwanto Ellias 2007 150.00 10-Jun-08 11-Jun-08 13-Jun-08 27-Jun-08 F
2008 100.00 23-Oct-08 24-Oct-08 28-Oct-08 11-Nov-08 I
AUDIT COMMITTEE 2008 220.00 11-Jun-09 12-Jun-09 16-Jun-09 26-Jun-09 F
1. Anugerah Pekerti 2009 330.00 14-Jun-10 15-Jun-10 17-Jun-10 01-Jul-10 F
2. Lindawati Halim 2010 160.00 27-Oct-10 28-Oct-10 01-Nov-10 12-Nov-10 I
3. Wiltarsa Halim 2010 430.00 31-May-11 01-Jun-11 06-Jun-11 13-Jun-11 F
2011 185.00 27-Oct-11 28-Oct-11 01-Nov-11 11-Nov-11 I
CORPORATE SECRETARY 2011 635.00 11-May-12 14-May-12 16-May-12 30-May-12 F
Sara K. Loebis 2012 210.00 16-Oct-12 17-Oct-12 19-Oct-12 02-Nov-12 I
2012 620.00 14-May-13 15-May-13 17-May-13 31-May-13 F
HEAD OFFICE 2013 175.00 02-Oct-13 03-Oct-13 07-Oct-13 23-Oct-13 I
Jln. Raya Bekasi Km. 22 2013 515.00 14-May-14 16-May-14 20-May-14 05-Jun-14 F
Jakarta 13910 2014 195.00 09-Oct-14 10-Oct-14 14-Oct-14 28-Oct-14 I
Phone : (021) 460-5959 - 79 2014 740.00 28-Apr-15 29-Apr-15 04-May-15 22-May-15 F
Fax : (021) 460-0655, 460-0677 2015 251.00 28-Sep-15 29-Sep-15 01-Oct-15 16-Oct-15 I
Homepage : www.unitedtractors.com ISSUED HISTORY

Email : sarakl@unitedtractors.com Listing Trading
ir@unitedtractors.com No. Type of Listing Shares Date Date
1. First Issue 2,700,000 19-Sep-89 19-Sep-89
2. Partial Listing 8,436,000 T: 26-Dec-89 : 27-Feb-91
3. Right Issue 2,151,579,636 T: 27-May-91 : 06-Jun-11
4. Company Listing 11,864,000 T: 25-Mar-92 : 01-Apr-92
5. Bonus Shares 351,900,000 T: 04-Apr-94 : 26-Jun-00
6. Stock Split 1,159,200,000 05-Sep-00 05-Sep-00
7. ESOP Conversion 1,201,500 T: 27-May-03 : 12-Jun-03
8. ESOP Conversion II 43,254,000 T: 11-Jun-03 : 14-Jul-05

TRADING ACTIVITIES
United Tractors Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
34,000 32.0 Jan-12 29,550 25,950 28,350 26,564 106,698 2,974,251 21
Feb-12 30,200 26,550 29,000 31,229 109,199 3,126,712 21
29,750 28.0 Mar-12 33,000 28,800 33,000 25,920 83,932 2,549,628 21
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
25,500 24.0
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
21,250 20.0
Aug-12 22,450 19,850 20,050 34,436 156,431 3,347,510 19
Sep-12 23,100 19,050 20,700 44,887 164,019 3,434,137 20
17,000 16.0
Oct-12 21,350 19,350 21,100 39,891 174,476 3,520,933 22
Nov-12 21,300 16,600 17,050 33,628 128,388 2,458,214 20
12,750 12.0 Dec-12 20,000 16,650 19,700 29,893 113,609 2,090,278 18
8,500 8.0 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
4,250 4.0 Mar-13 20,650 17,150 18,200 32,376 126,007 2,424,466 19
Apr-13 19,400 17,700 17,750 24,930 101,694 1,879,304 22
May-13 18,200 16,200 16,300 28,432 106,717 1,837,046 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
Aug-13 19,000 13,650 15,800 23,353 72,694 1,173,353 17
Sep-13 18,300 15,500 16,300 25,190 89,382 1,498,912 21
80%
Jan-14 21,200 18,500 19,300 45,472 60,972 1,184,893 20
60% Feb-14 19,300 17,725 18,975 52,632 90,170 1,659,792 20
Mar-14 20,950 18,600 20,750 47,174 79,381 1,582,790 20
40% Apr-14 22,100 19,850 21,700 49,419 83,360 1,769,643 20
33.4% May-14 22,500 20,750 21,675 45,767 62,208 1,366,231 18
20% Jun-14 23,200 21,700 23,100 38,741 50,682 1,149,000 21
18.1%
Jul-14 25,350 22,250 22,900 46,771 55,653 1,307,864 18
Aug-14 24,500 22,050 22,150 64,706 77,392 1,807,628 20
-
Sep-14 22,500 19,825 19,900 69,814 87,634 1,850,874 22
Oct-14 20,575 16,700 18,375 83,741 156,783 2,831,116 23
-20%
Nov-14 19,350 17,700 18,325 70,373 113,167 2,106,631 20
Dec-14 18,275 16,425 17,350 57,332 87,212 1,551,160 20
-40% -36.6%
Jan-15 18,275 16,850 17,900 52,951 63,591 1,113,496 21

-60% Feb-15 21,025 17,525 20,750 50,302 82,703 1,569,832 19
Mar-15 22,350 20,300 21,800 71,498 93,856 2,010,940 22
-80% Apr-15 23,400 20,475 21,400 53,700 82,243 1,859,237 21
Jun-15 22,325 18,875 20,375 62,456 63,471 1,313,939 21
Jul-15 20,600 17,850 20,200 57,869 46,188 878,654 19
Volume (Million Sh.) 1,711 1,120 1,005 879 80 Sep-15 20,700 15,225 17,475 71,271 55,235 995,809 21
Days 246 244 242 244 20 Dec-15 17,025 13,925 16,950 80,623 86,646 1,348,310 19
Price (Rupiah) Jan-16 17,450 15,625 17,400 72,205 79,869 1,311,592 20

High 33,400 22,000 25,350 24,000 17,450
Low 16,600 13,650 16,425 13,925 15,625
Close 19,700 19,000 17,350 16,950 17,400
Close* 19,700 19,000 17,350 16,950 17,400
PER (X) 12.54 14.66 10.17 16.41 16.84

PER Industry (X) 19.08 15.42 22.13 12.43 12.79
PBV (X) 2.27 1.99 1.68 1.61 1.65

Receivables 9,969,714 9,894,656 11,814,937 13,586,675 12,169,624

7,129,459 7,173,704 6,176,470 7,770,086 8,328,331 60,000
Inventories
Current Assets 25,625,578 22,048,115 27,814,126 33,579,799 39,259,708
45,000
Fixed Assets 13,670,208 15,196,476 14,574,384 13,625,012 12,659,736
Other Assets - - - - -
30,000
Total Assets 46,440,062 50,300,633 57,362,244 60,292,031 61,715,399
Growth (%) 8.31% 14.04% 5.11% 2.36% 15,000

Growth (%) -4.94% 20.63% 0.01% 3.45%
Paid up Capital 932,534 932,534 932,534 932,534 932,534 42,522
38,577 39,250
35,649
32,301
Par Value 250 250 250 250 250
33,848
27,504
25,173
Total Equity 27,503,948 32,300,557 35,648,898 38,576,734 39,250,325

Growth (%) 17.44% 10.37% 8.21% 1.75% 16,499
Total Revenues 55,052,562 55,953,915 51,012,385 53,141,768 49,347,479

Growth (%) 1.64% -8.83% 4.17% -7.14%
-850
2011 2012 2013 2014 Dec-15
Cost of Revenues 44,859,041 45,432,916 41,495,567 41,071,359 37,645,186

Gross Profit 10,193,521 10,520,999 9,516,818 12,070,409 11,702,293
Expenses (Income) 2,408,944 3,074,244 2,929,481 5,448,551 7,509,547
53,142
55,954
51,012 49,347
Growth (%)
44,539

Tax 1,885,071 1,693,413 1,788,559 1,781,888 1,400,307

21,710
Growth (%) -2.48% -16.59% 0.86% -42.30%

10,296
Current Ratio (%) 171.64 194.65 191.02 206.04 214.77
5,900 5,753
Dividend (Rp) 820.00 830.00 690.00 935.00 251.00 5,900
EPS (Rp) 1,581.96 1,549.45 1,295.85 1,439.52 1,033.07 4,799 4,840
BV (Rp) 7,373.45 8,659.35 9,557.00 10,341.91 10,522.49 4,696
DAR (X) 0.41 0.36 0.38 0.36 0.36

0.69 0.56 0.61 0.56 0.57 2,792
3,493
DER(X)
ROA (%) 12.70 11.44 8.37 8.03 4.52 2,289
ROE (%) 21.45 17.81 13.46 12.55 7.11

GPM (%) 18.52 18.80 18.66 22.71 23.71 1,086
OPM (%) - - - - -
NPM (%) 10.72 10.28 9.41 9.11 5.66
-118
2011 2012 2013 2014 Dec-15

Payout Ratio (%) 51.83 53.57 53.25 64.95 24.30
Yield (%) 3.11 4.21 3.63 5.39 1.48

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
UNVR
UNILEVER INDONESIA TBK.
Company Profile
PT Unilever Indonesia Tbk. was established on December 5th, 1933. Unilever Indonesia has
grown to be a leading company of Home and Personal Care as well as Foods and Ice Cream
products in Indonesia.

The Company is engaged in the manufacturing, marketing and distribution of consumer
goods including soaps, detergents, margarine, dairy based foods, ice cream, cosmetic
products, tea based beverages and fruit juice. The Company commenced its commercial
operations in 1933.

Unilever Indonesia’s portfolio includes many of the world’s best known and well‐loved
brands, such as: epsodent, Lux, Lifebuoy, Dove, Sunsilk, Clear, Rexona, Vaseline, Rinso,
Molto, Sunlight, Walls, Blue Band, Royco, Bango, etc.

The Company’s majority shareholder as at 30 September 2015 and 2014 is Unilever
Indonesia Holding B.V. ("UIH"), while its ultimate parent entity is Unilever N.V.,
Netherlands.

As at 21 January 2015, PT Anugrah Lever has been liquidated. The Company’s factories are
located at Jln. Jababeka 9 Blok D, Jln. Jababeka Raya Blok O, Jln. Jababeka V Blok V No. 14‐
16, Jababeka Industrial Estate Cikarang, Bekasi, West Java, and Jln. Rungkut Industri IV No.
5‐11, Rungkut Industrial Estate, Surabaya. As at 31 December 2015, the Company had
6,351 permanent employees but the subsidiary had no permanent employees.

February 2016
Disclaimer:

UNVR Unilever Indonesia Tbk. [S]
Industry Sub Sector : Cosmetics And Household (54) Market Capitalization : 280,021,000,000,000
T | 5.72% | 28.94%
16 | 19.8T | 1.44% | 48.98%

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 : 100.00%
Under Writer IPO :
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 690.00 23-Oct-90 04-Jul-91 I&F
Berita Satu 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. Maurits Daniel Rudolf Lalisang 1998 1,320.00 18-Nov-98 27-Jul-99 I&F
2. Cyrillus Harinowo *) 1999 25,000.00 03-Nov-99 20-Jul-00 I&F
3. Erry Firmansyah *) 2000 690.00 28-Nov-00 01-Aug-01 I&F
4. Hikmahanto Juwana *) 2001 1,150.00 19-Nov-01 22-Nov-02 I&F
5. Mahendra Siregar *) 2002 900.00 11-Feb-03 04-Aug-03 I&F
*) Independent Commissioners 2003 130.00 17-Feb-04 03-Aug-04 I&F
2004 130.00 02-Dec-04 24-Mar-05 I&F
BOARD OF DIRECTORS 2005 260.00 08-Jul-05 11-Jul-06 I&F
1. Hemant Bakshi 2006 205.00 29-Nov-06 11-Jul-07 I&F
2. Ainul Yaqin 2007 257.00 28-Nov-07 11-Jul-08 I&F
3. Amparo Cheung Aswin 2008 315.00 26-Nov-08 14-Jul-09 I&F
4. Annemarieke Edwardine Eva de Haan 2009 100.00 25-Nov-09 26-Nov-09 01-Dec-09 15-Dec-09 I
5. Debora Herawati Sadrach 2009 299.00 28-Jun-10 29-Jun-10 01-Jul-10 13-Jul-10 F
6. Enny Hartati 2010 100.00 26-Nov-10 29-Nov-10 01-Dec-10 15-Dec-10 I
7. Sancoyo Antarikso 2010 344.00 27-Jun-11 28-Jun-11 01-Jul-11 13-Jul-11 F
8. Tevilyan Yudhistira Rusli 2011 250.00 06-Dec-11 07-Dec-11 09-Dec-11 15-Dec-11 I
9. Vishal Gupta 2011 296.00 27-Jun-12 28-Jun-12 02-Jul-12 13-Jul-12 F
10. Willy Saelan 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
AUDIT COMMITTEE 2013 330.00 02-Dec-13 03-Dec-13 05-Dec-13 12-Dec-13 I
1. Erry Firmansyah 2013 371.00 26-Jun-14 27-Jun-14 01-Jul-14 15-Jul-14 F
2. Benny Redjo Setyono 2014 336.00 02-Dec-14 03-Dec-14 05-Dec-14 12-Dec-14 I
3. Muhammad Saleh 2015 342.00 01-Dec-15 02-Dec-15 04-Dec-15 17-Dec-15 I
CORPORATE SECRETARY ISSUED HISTORY

Sancoyo Antarikso Listing Trading
HEAD OFFICE 1. First Issue 9,200,000 11-Jan-82 11-Jan-82
Graha Unilever 2. Bonus Shares 1,533,334 15-Dec-89 15-Dec-89
Jln. Jend. Gatot Subroto Kav. 15 3. Bonus Shares 717,891 22-Sep-93 22-Sep-93
Jakarta 12930 4. Company Listing 64,848,775 02-Jan-98 02-Jan-98
Phone : (021) 526-2112, 5299-6468, 5299-6847 5. Stock Split 686,700,000 06-Nov-00 06-Nov-00
Fax : (021) 526-4020 6. Stock Split 6,867,000,000 03-Sep-03 03-Sep-03
Homepage : www.unilever.com; www.unilever.co.id

Email : unvr.indonesia@unilever.com

TRADING ACTIVITIES
Unilever Indonesia Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
46,000 40.0 Jan-12 24,450 18,200 19,600 16,752 38,440 761,415 21
Feb-12 20,050 17,500 19,250 17,028 31,412 606,182 21
40,250 35.0 Mar-12 20,200 18,600 20,000 14,713 27,939 543,448 21
Apr-12 20,750 18,750 19,850 14,599 31,656 615,568 20
May-12 22,450 19,700 20,550 16,221 45,658 965,430 21
34,500 30.0
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
28,750 25.0
Aug-12 27,350 23,800 27,100 13,551 24,914 635,793 19
Sep-12 28,500 25,100 26,050 20,640 43,814 1,177,790 20
23,000 20.0
Oct-12 26,300 25,250 26,050 15,755 45,467 1,176,959 22
Nov-12 26,950 25,600 26,350 13,272 46,071 1,207,920 20
17,250 15.0 Dec-12 26,400 20,100 20,850 50,609 143,941 3,196,599 18
11,500 10.0 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
5,750 5.0 Mar-13 23,100 21,700 22,800 16,433 50,808 1,147,414 19
Apr-13 26,250 22,150 26,250 15,906 50,732 1,178,848 22
May-13 34,500 24,800 30,500 21,913 57,502 1,657,707 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
Aug-13 32,350 26,600 31,200 25,112 39,989 1,191,169 17
Sep-13 33,300 30,100 30,150 28,077 50,371 1,587,564 21
140%
Jan-14 28,775 25,800 28,550 44,445 49,313 1,352,166 20
120% Feb-14 28,650 27,525 28,575 35,716 35,118 990,814 20
Mar-14 31,350 27,525 29,250 47,590 47,568 1,377,944 20
100% Apr-14 30,975 28,500 29,250 46,776 36,990 1,102,426 20
90.2% May-14 30,850 28,800 29,125 31,684 34,883 1,051,523 18
80% Jun-14 30,550 29,200 29,275 35,479 39,009 1,161,481 21
Jul-14 33,000 29,250 30,750 39,880 40,817 1,262,274 18
61.6% Aug-14 32,100 29,500 31,025 32,144 24,671 774,229 20
60%
Sep-14 32,100 31,025 31,800 29,938 22,402 708,602 22
Oct-14 32,200 29,625 30,400 45,092 42,228 1,308,739 23
40%
Nov-14 32,000 29,700 31,800 30,080 28,440 877,909 20
Dec-14 32,300 30,525 32,300 33,887 33,894 1,063,175 20
20% 18.1%
Jan-15 36,275 32,100 35,825 35,934 40,100 1,368,300 21
- Feb-15 37,000 34,850 36,000 40,106 34,539 1,238,699 19
Mar-15 40,500 35,750 39,650 50,052 51,654 1,975,029 22
-20% Apr-15 44,500 37,675 42,600 63,276 53,485 2,155,514 21
Jun-15 43,700 39,300 39,500 64,240 45,770 1,889,850 21
Jul-15 41,375 38,100 40,000 48,134 32,657 1,306,892 19
Volume (Million Sh.) 552 608 435 505 49 Sep-15 40,250 35,350 38,000 54,837 34,163 1,307,719 21
Days 246 244 242 244 20 Dec-15 37,825 34,150 37,000 47,897 39,437 1,426,482 19
Price (Rupiah) Jan-16 37,500 35,300 36,700 61,635 48,570 1,758,009 20

High 28,500 37,350 33,000 46,000 37,500
Low 17,500 20,900 25,800 32,100 35,300
Close 20,850 26,000 32,300 37,000 36,700
Close* 20,850 26,000 32,300 37,000 36,700
PER (X) 32.87 37.06 45.65 48.24 47.85

PER Industry (X) 19.75 15.98 24.22 17.69 17.48
PBV (X) 40.09 46.63 45.03 58.48 58.01

Receivables 2,188,280 2,261,941 3,279,694 3,052,260 3,602,272

1,812,821 2,061,899 2,084,331 2,325,989 2,297,502 13,000
Inventories
Current Assets 4,446,219 5,035,962 5,862,939 6,337,170 6,623,114
9,750
Fixed Assets 5,314,311 6,283,479 6,874,177 7,348,025 8,320,917
Other Assets 75,705 70,456 69,271 81,310 292,968
6,500
Total Assets 10,482,312 11,984,979 7,485,249 14,280,670 15,729,945
Growth (%) 14.34% -37.54% 90.78% 10.15% 3,250

Growth (%) 17.87% 13.43% 6.47% 12.61%
4,599
Paid up Capital 76,300 76,300 76,300 76,300 76,300 4,581 4,255
3,681
Par Value 10 10 10 10 10
3,407

Total Equity 3,680,937 3,968,365 4,254,670 4,598,782 4,827,360
Growth (%) 7.81% 7.21% 8.09% 4.97%
2,233

1,059
Total Revenues 23,469,218 27,303,248 30,757,435 34,511,534 36,484,030

Growth (%) 16.34% 12.65% 12.21% 5.72%
-115
2011 2012 2013 2014 Dec-15
Cost of Revenues 11,462,805 13,414,122 14,978,947 17,412,413 17,835,061

Gross Profit 12,006,413 13,889,126 15,778,488 17,099,121 18,648,969
Expenses (Income) 6,431,614 7,391,019 8,614,043 9,336,793 10,709,568
34,512
Growth (%) 10.25% 8.35% 2.28% 34,512
30,757
27,303
Other Income (Expenses) - -31,342 -5,637 -85,606 -109,911 23,469
27,471
Tax 1,410,495 1,627,620 1,806,183 1,938,199 1,977,685

Growth (%) 16.21% 10.61% 7.21% 1.97%

6,350
Current Ratio (%) 68.67 66.83 69.64 71.49 65.40
5,739 5,852
Dividend (Rp) 546.00 634.00 701.00 336.00 342.00 5,739 5,353
EPS (Rp) 545.66 634.24 701.52 752.10 766.95 4,839
BV (Rp) 482.43 520.10 557.62 602.72 632.68 4,568 4,164
DAR (X) 0.65 0.67 1.21 0.68 0.69

DER(X) 1.85 2.02 2.14 2.11 2.26
3,397
ROA (%) 39.73 40.38 71.51 40.18 37.20 2,227
ROE (%) 113.13 121.94 125.81 124.78 121.22

GPM (%) 51.16 50.87 51.30 49.55 51.12 1,056
OPM (%) - 23.80 23.29 22.49 21.76

NPM (%) 17.74 17.72 17.40 16.63 16.04
-115
2011 2012 2013 2014 Dec-15

Payout Ratio (%) 100.06 99.96 99.93 44.67 44.59
Yield (%) 2.90 3.04 2.70 1.04 0.92

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
WIKA
WIJAYA KARYA (PERSERO) TBK.
Company Profile
PT Wijaya Karya (Persero) Tbk. established dated 29 March 1960.

The purpose and objectives of the Company is to engage in the construction industry,
manufacturing industry, conversion industry, rental, agency services, investment, agro‐
industry, renewable energy and conversion energy , trading, engineering, procurement,
construction, area (industrial zone) management , service capacity upgrades in the field of
construction , information technology for engineering and planning services, by applying the
principles of limited liability companies.

The Company is domiciled at Jln. D.I. Panjaitan Kav. 9, Jakarta. The main activities
throughout Indonesia and overseas. The Company started its activities commercially in 1961.

The Company directly owned more than 50% shares on subsidiaries as follows:
 PT Wijaya Karya Beton,
 PT Wijaya Karya Realty,
 PT Wijaya Karya Industri dan Konstruksi,
 PT Wijaya Karya Rekayasa Konstruksi,
 PT Wijaya Karya Bangunan Gedung,
 PT Wijaya Karya Bitumen.

The entire subsidiaries are domiciled in Indonesia. Number of Employees of the Company
on Dec 31st, 2015 are 1,930 employes.

February 2016
Disclaimer:

WIKA Wijaya Karya (Persero) Tbk. [S]
43 | 17.2T | 0.35% | 74.79%
35 | 10.7T | 0.78% | 68.98%

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
2013 27.82 28-Apr-14 29-Apr-14 02-May-14 13-May-14 F
BOARD OF COMMISSIONERS 2014 20.03 29-Apr-15 30-Apr-15 05-May-15 22-May-15 F
1. Bakti Santoso Ludin
2. Abdul Rahman Pelu ISSUED HISTORY
3. Freddy R. Saragih Listing Trading
4. Liliek Mayasari No. Type of Listing Shares Date Date
5. Imas Aan Ubudiah *) 1. First Issue 1,846,154,000 29-Oct-07 29-Oct-07
6. Mudjiadi 2. Negara RI (Seri A) 1 29-Oct-07 29-Oct-07
7. Nurrachman *) 3. Company Listing 3,999,999,999 29-Oct-07 29-Oct-07
*) Independent Commissioners 4. ESOP II 213,500 T: 16-Dec-09 : 22-Dec-09
5. MSOP I 2,183,500 T: 24-May-10 : 30-Jun-10
BOARD OF DIRECTORS 6. MSOP II 908,000 T: 24-May-10 : 30-Jun-10
1. Bintang Perbowo 7. MSOP I & II 152,081,500 T: 22-Nov-10 : 05-Jan-11
2. Adji Firmantoro 8. ESOP/MSOP I & II 137,504,500 T: 20-May-11 : 01-Jul-13
3. Bambang Pramujo 9. ESOP/MSOP II 9,974,000 T: 22-Nov-11 : 01-Jul-14
4. Budi Harto 10. ESOP/MSOP I 206,000 30-Dec-13 30-Dec-13
5. Destiawan Soewardjono
6. Gandira Gutawa Sumapraja
7. Yusmar Anggadinata
AUDIT COMMITTEE
1. Bakti Santoso Luddin
2. Arzul Andaliza
3. Fahrul Ismaeni
4. Indracahya Kusumasubrata
5. M. Sjukrul Amien
CORPORATE SECRETARY
Suradi
HEAD OFFICE
WIKA Building
Jln. D.I. Panjaitan Kav. 9
Jakarta 13340
Phone : (021) 819-2808, 850-8640, 850-8650
Fax : (021) 819-1235, 859-11969
Homepage : www.wika.co.id
Email : suradi@wika.co.id

TRADING ACTIVITIES
Wijaya Karya (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
4,000 240 Jan-12 720 600 710 4,827 208,891 137,097 21
Feb-12 780 660 730 4,265 209,034 153,646 21
3,500 210 Mar-12 920 730 910 7,608 497,042 399,840 21
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
3,000 180
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
2,500 150
Aug-12 1,130 980 1,050 7,231 155,121 164,671 19
Sep-12 1,270 1,050 1,210 7,417 159,355 184,402 20
2,000 120
Oct-12 1,550 1,210 1,370 22,891 474,320 654,105 22
Nov-12 1,630 1,300 1,630 19,989 425,278 614,199 20
1,500 90 Dec-12 1,650 1,360 1,480 20,945 414,789 619,874 18
1,000 60 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
500 30 Mar-13 2,075 1,680 2,025 39,561 759,537 1,407,679 19
Apr-13 2,475 1,950 2,400 27,075 501,903 1,087,356 22
May-13 2,900 2,375 2,825 24,613 424,941 1,105,249 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
Aug-13 2,250 1,350 1,740 38,418 604,516 1,095,151 17
Sep-13 2,125 1,620 1,920 52,542 912,763 1,717,307 21
560%
Jan-14 1,985 1,580 1,950 39,945 484,540 901,013 20
480% Feb-14 2,185 1,900 2,145 57,551 850,413 1,734,639 20
Mar-14 2,505 2,120 2,390 53,471 842,897 1,956,887 20
400% Apr-14 2,535 2,050 2,265 88,318 1,193,527 2,718,051 20
359.0% May-14 2,475 2,230 2,345 48,610 678,582 1,597,528 18
320% Jun-14 2,345 2,145 2,215 29,386 300,893 677,128 21
Jul-14 2,860 2,205 2,650 53,246 583,781 1,491,132 18
Aug-14 2,990 2,595 2,870 42,619 442,129 1,229,926 20
240%
Sep-14 2,950 2,580 2,605 48,236 379,891 1,065,777 22
Oct-14 2,935 2,420 2,860 56,541 487,366 1,313,689 23
160%
Nov-14 3,140 2,750 3,005 36,189 317,504 936,247 20
103.1% Dec-14 3,895 3,015 3,680 52,094 394,563 1,292,573 20
80%
Jan-15 3,795 3,455 3,745 52,642 422,511 1,535,100 21

19.6%
- Feb-15 3,895 3,460 3,660 55,188 417,389 1,520,634 19
Mar-15 3,670 3,320 3,495 50,820 304,513 1,059,529 22
-80% Apr-15 3,620 2,930 2,985 44,846 296,524 1,000,500 21
Jun-15 3,190 2,480 2,505 44,211 244,883 673,596 21
Jul-15 3,190 2,515 2,655 48,347 321,152 931,043 19
Days 246 244 242 244 20 Dec-15 2,880 2,535 2,640 29,813 235,174 634,206 19
Price (Rupiah) Jan-16 2,910 2,605 2,800 35,647 287,391 807,865 20

High 1,650 2,900 3,895 3,895 2,910
Low 600 1,350 1,580 2,370 2,605
Close 1,480 1,580 3,680 2,640 2,800
Close* 1,480 1,580 3,680 2,640 2,800
PER (X) 17.75 17.02 42.35 25.97 27.55

PER Industry (X) 17.34 9.57 16.29 18.66 17.68
PBV (X) 3.21 3.01 4.79 2.99 3.17

Public Accountant : Hadori Sugiarto Adi & Rekan (Member of HLB International)
Receivables 420,573 1,978,912 2,132,198 2,639,364 3,836,199

872,775 1,138,080 1,118,390 817,307 1,031,278 16,000
Inventories
Investment 164,989 1,208,327 1,583,043 1,941,539 1,897,987
12,000
Fixed Assets 753,148 1,168,757 1,640,292 2,676,043 3,184,400
Other Assets 417,006 73,252 71,743 71,075 41,183
8,000
Total Assets 8,322,980 10,945,209 12,594,963 15,915,162 19,602,406
Growth (%) 31.51% 15.07% 26.36% 23.17% 4,000
Bank Payable - - - - - -
Trade Payable 2,119,188 2,529,217 3,061,518 3,902,807 4,323,398 2011 2012 2013 2014 Dec-15
Growth (%) 33.22% 15.21% 16.74% 29.52%
Paid up Capital 602,727 610,563 613,997 614,923 614,923 5,157
4,979
Par Value 100 100 100 100 100 4,105
Retained Earnings 854,681 1,196,354 1,202,095 1,518,306 2,013,224 3,227

2,814
Total Equity 2,219,376 2,814,006 3,226,959 4,978,758 5,438,101
3,053
2,219
Growth (%) 26.79% 14.67% 54.29% 9.23% 2,001
Total Revenues 7,741,827 9,816,086 11,884,668 12,463,216 13,620,101

Growth (%) 26.79% 21.07% 4.87% 9.28%
-103
2011 2012 2013 2014 Dec-15
Cost of Revenues 6,978,414 8,902,209 10,562,234 11,038,647 11,965,441

Gross Profit 864,935 1,111,382 1,583,448 1,794,327 1,943,063
Operating Profit 653,741 845,417 1,215,962 1,400,919 1,513,905 13,620
12,463
Growth (%) 29.32% 43.83% 15.21% 8.07% 12,463
11,885
9,816
7,742
Income before Tax 629,607 807,916 1,016,690 1,145,890 1,098,082
7,378
Tax 238,660 302,791 392,319 395,094 395,077

Growth (%) 29.21% 23.61% 20.25% -6.37%

2,293
Comprehensive Income 401,828 508,764 624,372 750,796 709,311 2011 2012 2013 2014 Dec-15
Dividend (Rp) 17.28 22.32 27.82 20.03 -
751
EPS (Rp) 58.82 74.99 92.82 100.04 101.65 751 703
BV (Rp) 368.22 460.89 525.57 809.66 884.36 624
DAR (X) 0.73 0.74 0.74 0.69 0.72 598
505
DER(X) 2.75 2.89 2.90 2.20 2.60
391
4.70 4.62 4.96 4.72 3.59
444
ROA (%)
ROE (%) 17.62 17.95 19.35 15.08 12.93 291
GPM (%) 11.17 11.32 13.32 14.40 14.27

OPM (%) 8.44 8.61 10.23 11.24 11.12 138
NPM (%) 5.05 5.15 5.25 6.02 5.16

Payout Ratio (%) 29.38 29.76 29.97 20.02 -
-15
2011 2012 2013 2014 Dec-15

Yield (%) 2.83 1.51 1.76 0.54 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
WSKT
WASKITA KARYA (PERSERO) TBK.
Company Profile
The Company was first established as a foreign company under the name "Volker
Aaneming Maatschappij NV" which later became nationalized State Company (PN) Waskita
Karja on March 29, 1961, and the Company at the time was based in Jakarta.
Overall, projects sources from the government still present the most appeal. Civil projects
are continually driven grow and justify investment in new resources (particularly
construction equipment), while building projects still experience selective growth rate. The
Company’s primary product are building and civil construction, as well as EPC. These three
types of service are offered to two principal markets, namely the government and private
sector. The Company must continue to be selective and carefully weigh risks in accepting
projects from private entities for the construction of buildings and civil items.
The Company is currently striving to expand its precast concrete business. The Company
employs two means to meet its need for precast concrete, namely by procuring the same
from external sources and by producing them internally.
The Company’s strategy is realized by achieving the set targets in terms of contract value,
revenue and profit, by employing the following strategies and policies:
• Continuing focus on the core business, supplemented by expansion into new
markets in the relevant business sectors: precast concrete, realty and toll road
investment;
• Focus on the government sector and potential civil projects, particularly large‐
scale infrastructure projects;
• Enhancement of competitive advantage through improvements in work systems
and capital structure;
• Enrichment of experience through strategic partnering and EPC activities;
• Focus on the application of value engineering;
• Enhancement of profit margin through cost reduction programs and business
diversification;
• Expansion of overseas market share;
• Upgrading of IT system through the use of the Microsoft Dynamic application.
The Company remains convinced that management preparedness, supported by good
corporate governance, sustainable human resources development and programmed
business strategies, will open opportunities for growth and contribute towards achieving
an even better future for the Company.
February 2016
Disclaimer:

WSKT Waskita Karya (Persero) Tbk. [S]
36 | 23.5T | 0.48% | 71.99%
28 | 13.4T | 0.98% | 63.02%

Established Date : 01-Jan-1961 1. Pemerintah Republik Indonesia 8,963,697,887 : 66.04%
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 2014 10.31 04-May-15 05-May-15 07-May-15 28-May-15 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220
BOARD OF COMMISSIONERS 1. First Issue 3,082,315,000 19-Dec-12 19-Dec-12
1. Mohamad Hasan 2. Company Listing 6,549,921,000 19-Dec-12 19-Dec-12
2. Arif Baharudin 3. MESOP I 97,514,205 T: 23-May-14 : 11-Dec-15
3. Danis H. Sumadilaga 4. MESOP II 189,244,905 T: 20-May-15 : 11-Dec-15
4. Mohammad Aqil Hirham Danis *) 5. Right Issue 3,653,498,200 08-Jul-15 08-Jul-15
5. R. Agus Sartono
6. Viktor S. Sirait *)
BOARD OF DIRECTORS
1. Muhammad Choliq
2. Adi Wibowo
3. Agus Sugiono
4. Desi Arryani
5. Nyoman Wirya Adnyana
6. Tunggul Rajagukguk
AUDIT COMMITTEE
1. Viktor S. Sirait
2. Hengki Z P Tampubolon
3. R. Agus Sartono
4. Tjahjo Winarto
CORPORATE SECRETARY
Hadi Susilo
HEAD OFFICE
Waskita Building 9th Fl.
Jln. M.T. Haryono Kav. No. 10
Cawang, Jakarta 13340
Phone : (021) 850-8510
Fax : (021) 850-8506
Homepage : www.waskita.co.id
Email : waskita@waskita.co.id

TRADING ACTIVITIES
Waskita Karya (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
Price* December 2012 - January 2016 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
2,000 1,600 Dec-12 490 420 450 17,534 1,432,023 622,792 6
1,750 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
1,500 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
1,250 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
1,000 800
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
750 600 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
500 400 Dec-13 485 400 405 27,797 812,597 370,734 19
250 200 Jan-14 580 402 540 45,714 1,361,373 694,196 20

Feb-14 690 535 665 39,580 1,445,390 913,294 20
Mar-14 820 645 760 48,633 1,772,927 1,326,054 20
Apr-14 800 665 745 44,750 1,653,393 1,230,960 20
Dec-12 Dec-13 Dec-14 Dec-15
May-14 800 705 720 23,385 703,583 533,679 18
Jun-14 720 640 680 25,205 717,438 487,344 21
Jul-14 870 665 810 48,388 1,657,700 1,311,470 18
Closing Price*, Jakarta Composite Index (IHSG) and Aug-14 950 785 905 40,511 1,277,869 1,125,149 20
Property, Real Estate and Bulding Construction Index Sep-14 945 820 835 44,374 1,365,148 1,201,303 22
December 2012 - January 2016 Oct-14 985 800 970 47,946 1,467,392 1,312,756 23
350% Nov-14 1,060 940 1,045 32,150 864,321 873,185 20
Dec-14 1,550 1,040 1,470 60,018 1,285,521 1,619,692 20
300% 300.0%
Jan-15 1,740 1,355 1,715 70,104 1,483,277 2,224,845 21
250% Feb-15 1,890 1,680 1,815 66,468 1,082,352 1,936,847 19
Mar-15 1,825 1,630 1,780 59,602 922,085 1,598,474 22
200% Apr-15 1,815 1,550 1,720 32,693 492,663 852,730 18
May-15 1,815 1,505 1,700 28,488 323,352 555,369 19
Jun-15 1,745 1,490 1,520 32,477 446,526 722,925 21
150%
Jul-15 1,900 1,515 1,770 52,634 847,192 1,460,006 19
Aug-15 1,845 1,505 1,605 38,175 524,748 874,353 20
100%
Sep-15 1,675 1,525 1,550 32,563 419,021 676,229 21
Oct-15 1,770 1,565 1,630 52,743 914,328 1,523,625 21
50% 45.4% Nov-15 1,760 1,605 1,605 46,419 639,780 1,085,373 21
Dec-15 1,690 1,605 1,670 30,077 407,446 673,388 19
- 7.9%
Jan-16 1,775 1,615 1,735 56,094 850,420 1,459,308 20

-50%
Dec 12 Dec 13 Dec 14 Dec 15
SHARES TRADED 2012 2013 2014 2015 Jan-16

Volume (Million Sh.) 1,432 16,180 15,572 8,503 850
Value (Billion Rp) 623 10,728 12,629 14,184 1,459
Frequency (Thou. X) 18 440 501 542 56
Days 6 244 242 241 20
Price (Rupiah)
High 490 1,080 1,550 1,900 1,775
Low 420 400 402 1,355 1,615
Close 450 405 1,470 1,670 1,735
Close* 439 395 1,433 1,670 1,735
PER (X) 17.04 10.60 84.55 21.63 22.48

PER Industry (X) 17.34 9.57 16.29 18.66 17.68
PBV (X) 2.16 1.64 5.90 2.34 2.43

Public Accountant : Doli, Bambang, Sulistiyanto, Dadang & Ali (Member of BKR International)
Cash & Cash Equivalents 583,188 2,183,783 1,119,694 1,675,283 5,511,188 31,250
Receivables 1,563,705 1,971,997 2,342,084 2,990,509 5,512,986

351,259 412,538 292,227 604,279 826,384 25,000
Inventories
Investment 7,315 50,352 70,168 659,691 972,699
18,750
Fixed Assets 192,399 239,934 415,440 621,792 1,923,144
Other Assets 6,919 19,036 21,180 33,023 236,767
12,500
Total Assets 5,116,002 8,366,244 8,788,303 12,542,041 30,309,111
Growth (%) 63.53% 5.04% 42.71% 141.66% 6,250
Bank Payable 1,204,968 822,776 874,808 1,917,129 5,074,779 -

Trade Payable 1,661,714 2,002,815 2,291,268 2,571,795 5,472,021 2011 2012 2013 2014 2015
Growth (%) 41.45% 0.72% 51.34% 112.57%
Authorized Capital 187,433 2,600,000 2,600,000 2,600,000 2,600,000 9,704
Paid up Capital 654,992 963,233 963,224 966,634 1,357,249 9,704
Paid up Capital (Shares) 18 9,632 9,632 9,666 13,572

Par Value 26655 & 1000000 100 100 100 100
7,725
Retained Earnings -31,978 215,174 563,911 954,024 1,933,161

5,745
Total Equity 620,222 2,007,075 2,383,437 2,848,830 9,704,207

Growth (%) 223.61% 18.75% 19.53% 240.64% 3,765
2,849
2,383
2,007
620
Total Revenues 7,274,167 8,808,416 9,686,610 10,286,813 14,152,753
Growth (%) 21.09% 9.97% 6.20% 37.58%
-194
2011 2012 2013 2014 2015
Cost of Revenues 6,610,973 8,076,158 8,775,914 9,177,917 12,231,515

Gross Profit 687,395 824,835 1,012,371 1,306,012 1,932,837
Operating Profit 485,033 628,528 706,898 939,383 1,739,500 14,153
Growth (%) 29.58% 12.47% 32.89% 85.17%

10,287
9,687
11,266

Income before Tax 331,827 459,913 611,201 755,602 1,398,004 8,378
7,274
Tax 159,838 205,882 243,230 254,389 350,413
Profit for the period 171,989 254,031 367,970 501,213 1,047,591
5,491
Growth (%) 47.70% 44.85% 36.21% 109.01%

2,604
Period Attributable 171,989 254,031 368,060 501,531 1,047,738 -283
Comprehensive Income 172,457 254,363 366,629 497,058 1,483,266 2011 2012 2013 2014 2015
Comprehensive Attributable 172,457 254,363 366,719 497,375 1,483,414
Dividend (Rp) - 2.11 11.46 10.31 -
1,048
EPS (Rp) 9,554.96 26.37 38.21 51.88 77.20 1,048
BV (Rp) 34,456.80 208.37 247.44 294.72 714.99

DAR (X) 0.88 0.76 0.73 0.77 0.68 834
DER(X) 7.25 3.17 2.69 3.40 2.12

3.36 3.04 4.19 4.00 3.46 501
620
ROA (%)
ROE (%) 27.73 12.66 15.44 17.59 10.80 406
368
GPM (%) 9.45 9.36 10.45 12.70 13.66 254

172
OPM (%) 6.67 7.14 7.30 9.13 12.29 193
NPM (%) 2.36 2.88 3.80 4.87 7.40

Payout Ratio (%) - 8.00 30.00 19.87 -
-21
2011 2012 2013 2014 2015

Yield (%) - 0.47 2.83 0.70 -

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No. Code Stock Name Page

Jakarta Composite Index =

10. Debt to Equity Ratio (DER)

11. Return on Assets (ROA)

12. Return on Equity (ROE)

13. Gross Profit Margin (GPM)

18. [S] Sharia Compliant Stock

20. Comprehensive Attribute : Comprehensive Income attributable to owner’s entity

Jakarta, February 2016

Research and Development Division

© 2016 Indonesia Stock Exchange. All rights reserved.

ASTRA AGRO LESTARI TBK.

2 RESEARCH AND DEVELOPMENT DIVISION

49 | 7.61T | 0.56% | 78.38%

COMPANY HISTORY SHAREHOLDERS (January 2016)

RESEARCH AND DEVELOPMENT DIVISION 3

7,500 4.0 Jan-13 20,850 18,750 18,850 10,591 20,796 409,347 21

Jan-15 26,150 23,150 23,250 27,912 24,553 601,935 21

Price (Rupiah) Jan-16 17,450 15,600 17,075 35,425 32,255 535,544 20

PER (X) 12.64 21.94 15.62 40.32 43.43

4 RESEARCH AND DEVELOPMENT DIVISION

Receivables 16,358 50,068 20,554 47,451 88,026

Current Liabilities 1,440,351 2,600,540 3,759,265 4,110,955 3,522,133 -

Retained Earnings 7,268,639 8,158,203 9,019,251 10,544,828 10,413,840

Total Equity 8,426,158 9,365,411 10,263,354 11,833,778 11,698,787

INCOME STATEMENTS Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 2,178

Total Revenues 10,772,582 11,564,319 12,674,999 16,305,831 13,059,216

2011 2012 2013 2014 2015

Cost of Revenues 6,837,674 7,206,837 8,592,003 11,352,975 9,977,118

Tax 834,367 1,004,627 694,729 1,059,765 479,829

Growth (%) 0.87% -24.46% 37.72% -73.47%

Period Attributable 2,405,564 2,410,259 1,802,193 2,504,467 619,107 -326

EPS (Rp) 1,527.59 1,530.57 1,144.43 1,590.40 393.15

DAR (X) 0.17 0.25 0.31 0.36 0.46

ROA (%) 24.48 20.29 12.72 14.13 3.23

ROE (%) 29.65 26.91 18.55 22.16 5.95

2011 2012 2013 2014 2015

RESEARCH AND DEVELOPMENT DIVISION 5

6 RESEARCH AND DEVELOPMENT DIVISION

25 | 15.0T | 1.10% | 59.86%

COMPANY HISTORY SHAREHOLDERS (January 2016)

RESEARCH AND DEVELOPMENT DIVISION 7

850 60 Jan-13 2,150 1,730 2,000 25,820 386,992 740,424 21

Jan-15 3,780 3,320 3,695 64,117 576,447 2,067,005 21

Price (Rupiah) Jan-16 2,580 2,070 2,550 70,823 856,813 2,027,511 20

PER (X) 14.84 6.70 46.54 41.61 49.58

8 RESEARCH AND DEVELOPMENT DIVISION

Receivables 1,657,080 2,332,098 2,705,085 3,214,051 3,311,392

Bank Payable 192,017 200,920 211,800 771,500 1,620,236 -

Paid up Capital (Shares) 1,801 1,801 1,801 1,801 3,561

Retained Earnings 790,784 943,642 1,307,301 1,509,579 1,789,885

Total Equity 990,368 1,180,919 1,548,463 1,751,543 5,162,132

Total Revenues 6,695,112 7,627,703 9,799,598 8,653,578 9,389,570

2011 2012 2013 2014 2015

Cost of Revenues 5,960,704 6,671,815 8,606,444 7,655,377 8,414,926

Other Income (Expenses) -87,164 -88,526 -108,337 -125,327 -104,639

Tax 143,687 209,998 305,927 267,896 281,066

Growth (%) 16.76% 91.47% -18.80% 40.21%

Period Attributable 182,116 211,590 405,977 329,075 463,685 -196

DER(X) 5.17 5.67 5.28 4.97 2.25

ROA (%) 213

GPM (%) 11.93 13.68 12.73 11.54 10.38

NPM (%) 2.73 2.80 4.17 3.83 4.95