LQ45 List IDX August 2018 - January 2019

IDX LQ45
INDEX MEMBER PROFILES
August 2018
Contents
No. Code Stock Name Page

1. ADHI 2
Adhi Karya (Persero) Tbk. [S] (Building Construction, 62) ..................................................................................................
2. ADRO 6
Adaro Energy Tbk. [S] (Coal Mining, 21) ........................................................................................................................... .
3. AKRA 10
AKR Corporindo Tbk. [S] (Wholesale (Durable & Non-Durable Goods), 91) .......................................................................
4. ANTM 14
Aneka Tambang Tbk. [S] (Metal And Mineral Mining , 23) ..................................................................................................
5. ASII 18
Astra International Tbk. [S] (Automotive And Components, 42) ..........................................................................................
6. BBCA 22
Bank Central Asia Tbk. (Bank, 81) .................................................................................................................................. ...
7. BBNI 26
Bank Negara Indonesia (Persero) Tbk. (Bank, 81) .............................................................................................................
8. BBRI 30
Bank Rakyat Indonesia (Persero) Tbk. (Bank, 81) ..............................................................................................................
9. BBTN 34
Bank Tabungan Negara (Persero) Tbk. (Bank, 81) .............................................................................................................
10. BJBR 38
BPD Jawa Barat dan Banten Tbk. (Bank, 81) .....................................................................................................................
11. BKSL 42
Sentul City Tbk. [S] (Property And Real Estate, 61) ............................................................................................................
12. BMRI 46
Bank Mandiri (Persero) Tbk. (Bank, 81) ..............................................................................................................................
13. BRPT 50
Barito Pacific Tbk. [S] (Chemicals, 34) ............................................................................................................................. ..
14. BSDE 54
Bumi Serpong Damai Tbk. [S] (Property And Real Estate, 61) ...........................................................................................
15. ELSA 58
Elnusa Tbk. [S] (Crude Petroleum & Natural Gas Production, 22) ......................................................................................
16. EXCL 62
XL Axiata Tbk. [S] (Telecommunication, 73) ..................................................................................................................... .
17. GGRM 66
Gudang Garam Tbk. (Tobacco Manufacturers, 52) .............................................................................................................
18. HMSP 70
H.M. Sampoerna Tbk. (Tobacco Manufacturers, 52) ..........................................................................................................
19. ICBP 74
Indofood CBP Sukses Makmur Tbk. [S] (Food And Beverages, 51) ...................................................................................
20. INCO 78
Vale Indonesia Tbk. [S] (Metal And Mineral Mining , 23) .....................................................................................................
21. INDF 82
Indofood Sukses Makmur Tbk. [S] (Food And Beverages, 51) ...........................................................................................
22. INDY 86
Indika Energy Tbk. [S] (Coal Mining, 21) ........................................................................................................................... .
23. INKP 90
Indah Kiat Pulp & Paper Tbk. (Pulp & Paper, 38) ................................................................................................................
24. INTP 94
Indocement Tunggal Prakarsa Tbk. [S] (Cement, 31) .........................................................................................................
25. ITMG 98
Indo Tambangraya Megah Tbk. [S] (Coal Mining, 21) .........................................................................................................
26. JSMR 102
Jasa Marga (Persero) Tbk. (Toll Road, Airport, Harbor And Allied Products, 72) ...............................................................
27. KLBF 106
Kalbe Farma Tbk. [S] (Pharmaceuticals, 53) .......................................................................................................................
28. LPKR 110
Lippo Karawaci Tbk. [S] (Property And Real Estate, 61) .....................................................................................................
29. LPPF 114
Matahari Department Store Tbk. [S] (Retail Trade, 93) .......................................................................................................
30. MEDC 118
Medco Energi Internasional Tbk. (Crude Petroleum & Natural Gas Production, 22) ...........................................................
31. MNCN 122
Media Nusantara Citra Tbk. [S] (Advertising, Printing And Media, 95) ................................................................................
32. PGAS 126
Perusahaan Gas Negara Tbk. [S] (Energy, 71) ...................................................................................................................
33. PTBA 130
Bukit Asam Tbk. [S] (Coal Mining, 21) ........................................................................................................................... .....
34. PTPP 134
PP (Persero) Tbk. [S] (Building Construction, 62) ...............................................................................................................
35. SCMA 138
Surya Citra Media Tbk. [S] (Advertising, Printing And Media, 95) .......................................................................................
36. SMGR 142
Semen Indonesia (Persero) Tbk. [S] (Cement, 31) .............................................................................................................
37. SRIL 146
Sri Rejeki Isman Tbk. (Textile, Garment, 43) ......................................................................................................................
38. SSMS 150
Sawit Sumbermas Sarana Tbk. (Plantation, 12) ..................................................................................................................
39. TLKM 154
Telekomunikasi Indonesia (Persero) Tbk. [S] (Telecommunication, 73) .............................................................................
40. TPIA 158
Chandra Asri Petrochemical Tbk. [S] (Chemicals, 34) ........................................................................................................
41. UNTR 162
United Tractors Tbk. [S] (Wholesale (Durable & Non-Durable Goods), 91) ........................................................................
42. UNVR 166
Unilever Indonesia Tbk. [S] (Cosmetics And Household, 54) ..............................................................................................
43. WIKA 170
Wijaya Karya (Persero) Tbk. [S] (Building Construction, 62) ...............................................................................................
44. WSBP 174
Waskita Beton Precast Tbk. [S] (Cement, 31) .....................................................................................................................
45. WSKT 178
Waskita Karya (Persero) Tbk. [S] (Building Construction, 62) .............................................................................................
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
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expanding the domestic investor base.
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......................... improve the future editions of this publication, the readers’ comments and feedback would be highly appreciated.
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Jakarta, August 2018
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Statistical Publication Unit
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Research and Development Division
Indonesia Stock Exchange
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© 2018 Indonesia Stock Exchange. All rights reserved.
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........................Disclaimer :
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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
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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
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and opinions stated or expressed or stated within this publication.
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LQ45 Index Constituents
for the period of August 2018 – January 2019
2 IDX LQ45 Index Members Profile
COMPANY REPORT
ADHI
ADHI KARYA (PERSERO) TBK.
Company Profile
PT Adhi Karya (Persero) Tbk., (ADHI) began as a Dutch company called Architecten-enIngenicure
Annemersbedrijf Associatie Selle & de Bruyn, Reyerse & de Vries N.V. (Associate N.V.). In March
11, 1960 it was nationalized as a State-Owned Company, named PN Adhi Karya, which became the
origin of the best infrastructure development company in Indonesia. Based on the approval of the
Minister of Justice of the Republic of Indonesia No. 26 of 1974, starting from June 1, 1974 the status
of PN Adhi Karya changed to a Limited Liability Company.
ADHI became the first construction company to be listed on the Indonesia Stock Exchange on
March 18, 2004. It’s 5 (five) main business lines which are currently engaged in Construction
Services, Energy, Property, Industry, and Investment.
ADHI has 3 (three) subsidiaries which are PT Adhi Persada Properti (APP), PT Adhi Persada Gedung
(APG), dan PT Adhi Persada Beton (APB)
ADHI is currently constructing the first phase of Jabodebek LRT project spanning 43.3 km. The LRT
project completion will mark a historic milestone in Indonesia infrastructure development.
In line with ADHI’s assignment as LRT contractor, ADHI has shown its concerns for spatial efficiency
and public mobility by developing residential and commercial areas integrated with LRT stations
based on Transit Oriented Development (TOD) concept to help reduce the traffic congestion in
Jakarta and its surrounding cities. A number of residential and commercial areas such as
apartments and shopping centers will be equipped with supporting facilities including parks,
pedestrian and bicycle crossing as well as a spacious parking area.
At project sites, ADHI strives to constantly instill HSE awareness to every employee, through the
implementation of following programs: Safety Induction, Safety Morning Talk, and Tool Box
Meeting.
In 2017 the company received awards: CSR Award, Indonesia Most Innovative Business Award, Top
100 Most Valuable Indonesian Brands, Indonesia Good Corporate Governance Award, Top
Corporate Reputation Award, Top 50 Mid Market Capitalization, The Best Partner Minister for
Public Works and Human Settlement, Top 3 Popular SOE in Construction Sector, Top 5 GCG Issuer
in Construction Sector, and Top 5 Admired CEO in Construction Sector.
The Company’s head office is located at Jalan Raya Pasar Minggu Km.18, Jakarta. As of March 31th,
2018, the Company and subsidiaries had 1,808 permanent employees.
August 2018
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.
RESEARCH AND DEVELOPMENT • INDONESIA STOCK EXCHANGE

IDX LQ45 Index Members Profile 3
ADHI Adhi Karya (Persero) Tbk.

COMPANY REPORT : JULY 2018 As of 31 July 2018
Main Board Individual Index : 1,260.475
Industry Sector : Property, Real Estate & Building Construction (6) Listed Shares : 3,560,849,376
Industry Sub Sector : Building Construction (62) Market Capitalization : 5,715,163,248,480
159 | 5.72T | 0.09% | 90.64%
68 | 7.01T | 0.35% | 81.32%
COMPANY HISTORY SHAREHOLDERS (June 2018)

Established Date : 11-Mar-1960 1. Republic of Indonesia 1,816,046,624 : 51.00%
Listing Date : 18-Mar-2004 2. Public (<5%) 1,744,802,752 : 49.00%
Underwriter IPO :
PT. Ciptadana Sekuritas DIVIDEND ANNOUNCEMENT
Securities Administration Bureau : Bonus Cash Recording Payment
F/I
PT Datindo Entrycom Year Shares Dividend Cum Date Ex Date Date Date
2003 12.30 07-Jul-04 08-Jul-04 12-Jul-04 23-Jul-04 F
BOARD OF COMMISSIONERS 2004 19.56 17-Jun-05 20-Jun-05 22-Jun-05 06-Jul-05 F
1. Muhammad Fadjroel Rachman 2005 12.98 20-Jul-06 21-Jul-06 25-Jul-06 08-Aug-06 F
2. Bobby A.A. Nazief 2006 10.61 17-Jul-07 18-Jul-07 20-Jul-07 03-Aug-07 F
3. Hironimus Hilapok *) 2008 11.51 02-Jul-09 03-Jul-09 07-Jul-09 22-Jul-09 F
4. Muchlis R. Luddin *) 2009 28.26 30-Jun-10 01-Jul-10 05-Jul-10 19-Jul-10 F
5. Rildo Ananda Anwar 2010 32.35 04-Jul-11 05-Jul-11 07-Jul-11 20-Jul-11 F
6. Wicipto Setiadi 2011 30.33 05-Jun-12 06-Jun-12 08-Jun-12 22-Jun-12 F
*) Independent Commissioners 2012 23.49 13-May-13 14-May-13 16-May-13 29-May-13 F
2013 67.61 04-Apr-14 07-Apr-14 10-Apr-14 25-Apr-14 F
BOARD OF DIRECTORS 2014 35.98 27-Mar-15 30-Mar-15 01-Apr-15 22-Apr-15 I
1. Budi Harto 2015 26.23 15-Apr-16 18-Apr-16 20-Apr-16 12-May-16 F
2. Agus Karianto 2017 28.95 20-Apr-18 23-Apr-18 25-Apr-18 17-May-18 F
3. Budi Saddewa Soediro
4. Entus Asnawi ISSUED HISTORY
5. Partha Sarathi Listing Trading
6. Pundjung Setya Brata No. Type of Listing Shares Date Date
1. First Issue 397,188,000 18-Mar-04 18-Mar-04
AUDIT COMMITTEE 2. Company Listing 918,680,000 18-Mar-04 18-Mar-04
1. Muchlis R. Luddin 3. Employee Management Buy Out (EMBO) 441,320,000 18-Mar-04 03-Jul-06
2. Mukti Wibowo 4. Employee Stock Allocation (ESA) 44,132,000 18-Mar-04 26-Jun-04
3. Syaiful 5. Right Issue I 897,366,624 09-Oct-15 09-Oct-15
6. Right Issue I 259,180,948 13-Oct-15 13-Oct-15
CORPORATE SECRETARY 7. Right Issue I 90,316,424 15-Oct-15 15-Oct-15
Ki Syahgolang Permata 8. Right Issue I 313,084,300 16-Oct-15 16-Oct-15
9. Right Issue I 169,499,395 19-Oct-15 19-Oct-15
HEAD OFFICE 10. Right Issue I 30,081,685 21-Oct-15 21-Oct-15
South Building
Jl. Raya Pasar Minggu KM 18
Jakarta 12510
Phone : (021) 797-5312
Fax : (021) 797-5311
Homepage : www.adhi.co.id
Email : adhi@adhi.co.id


TRADING ACTIVITIES
Closing Price* and Trading Volume
Adhi Karya (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
Price* January 2014 - July 2018 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
3,400 240 Jan-14 1,850 1,425 1,780 34,825 523,862 885,065 20
Feb-14 2,390 1,755 2,340 51,624 769,177 1,595,184 20
2,975 210 Mar-14 3,110 2,275 2,995 53,545 573,781 1,597,729 20
Apr-14 3,335 2,675 2,985 86,169 890,637 2,676,720 20
May-14 3,340 2,950 3,130 50,309 514,322 1,636,032 18
2,550 180
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
2,125 150
Aug-14 3,230 3,025 3,070 40,426 298,984 938,382 20
Sep-14 3,160 2,740 2,765 30,838 165,105 494,676 22
1,700 120
Oct-14 2,920 2,320 2,755 58,999 424,212 1,142,279 23
Nov-14 2,810 2,435 2,780 56,416 568,723 1,501,669 20
1,275 90 Dec-14 3,625 2,780 3,480 81,342 933,533 2,875,053 20
850 60 Jan-15 3,780 3,320 3,695 64,117 576,447 2,067,005 21

Feb-15 3,870 3,330 3,440 64,269 520,481 1,843,502 19
425 30 Mar-15 3,475 2,990 3,055 49,578 297,973 949,746 22
Apr-15 3,180 2,680 2,765 47,276 291,008 876,099 21
May-15 2,940 2,490 2,505 43,538 232,483 639,163 19
Jun-15 2,540 1,910 2,020 59,436 343,741 745,375 21
Jan-14 Jan-15 Jan-16 Jan-17 Jan-18
Jul-15 2,795 2,010 2,300 89,892 672,513 1,613,341 19
Aug-15 2,340 1,665 1,995 70,761 366,814 731,984 20
Sep-15 2,340 1,855 2,250 85,168 525,345 1,119,272 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-15 2,410 1,850 2,230 102,153 1,201,936 2,604,099 21
Property, Real Estate and Bulding Construction Index Nov-15 2,345 2,105 2,200 55,399 540,360 1,214,604 21
January 2014 - July 2018 Dec-15 2,270 2,040 2,140 34,926 317,411 683,169 19
175%
Jan-16 2,580 2,070 2,550 70,823 856,813 2,027,511 20
150% Feb-16 2,745 2,475 2,610 55,500 549,180 1,444,345 20
Mar-16 2,840 2,555 2,690 48,667 519,063 1,413,655 21
125% Apr-16 2,910 2,645 2,675 49,750 562,525 1,558,604 21
May-16 2,710 2,420 2,570 44,806 371,638 945,245 20
100% Jun-16 2,830 2,530 2,780 44,156 448,114 1,224,428 22
Jul-16 2,900 2,700 2,830 35,306 393,230 1,105,417 16
Aug-16 2,860 2,660 2,670 53,421 590,369 1,634,318 22
75%
Sep-16 2,730 2,310 2,360 58,883 449,387 1,124,446 21
Oct-16 2,510 2,130 2,270 48,902 375,525 881,747 21
50%
Nov-16 2,270 1,830 1,910 42,844 338,379 692,729 22
37.2% Dec-16 2,280 1,855 2,080 64,378 622,275 1,295,451 20
25% 29.5%
22.8%
Jan-17 2,260 2,030 2,100 38,049 371,611 802,129 21
- Feb-17 2,350 1,945 2,130 56,156 691,793 1,485,856 19
Mar-17 2,470 2,080 2,370 48,413 517,551 1,203,799 22
-25% Apr-17 2,420 2,150 2,260 27,827 273,299 623,911 17
Jan 14 Jan 15 Jan 16 Jan 17 Jan 18 May-17 2,420 2,150 2,350 26,000 240,181 549,671 20
Jun-17 2,340 2,130 2,150 17,209 145,864 321,552 15
Jul-17 2,240 1,950 2,220 44,200 508,406 1,087,262 21
SHARES TRADED 2014 2015 2016 2017 Jul-18 Aug-17 2,220 2,000 2,020 22,832 215,316 449,201 22
Volume (Million Sh.) 6,662 5,887 6,076 4,434 1,721 Sep-17 2,090 1,930 2,000 20,920 182,482 367,303 19
Value (Billion Rp) 18,415 15,087 15,348 9,514 3,569 Oct-17 2,280 1,975 2,190 32,801 377,107 800,468 22
Frequency (Thou. X) 667 767 617 422 202 Nov-17 2,300 1,955 1,955 39,486 440,890 933,209 22
Days 242 244 246 238 138 Dec-17 1,965 1,705 1,885 48,250 469,371 889,878 18
Price (Rupiah) Jan-18 2,370 1,805 2,230 57,126 616,400 1,299,800 22

High 3,625 3,870 2,910 2,470 2,510 Feb-18 2,500 2,090 2,480 33,097 325,788 773,708 19
Low 1,425 1,665 1,830 1,705 1,535 Mar-18 2,510 2,050 2,070 23,512 175,221 401,298 21
Close 3,480 2,140 2,080 1,885 1,605 Apr-18 2,220 1,835 1,880 21,399 142,641 295,855 21
Close* 2,953 2,140 2,080 1,885 1,605 May-18 1,985 1,715 1,945 21,986 136,155 257,074 20
Jun-18 1,945 1,790 1,790 8,310 55,612 105,939 13
PER (X) 46.54 16.43 48.23 13.02 19.50 Jul-18 1,815 1,535 1,605 36,338 269,344 435,566 22
PER Industry (X) 16.29 13.36 24.89 14.52 14.33
PBV (X) 4.10 1.48 1.43 1.14 0.96
* Adjusted price after corporate action


Financial Data and Ratios Book End : December
Public Accountant : Hertanto, Grace, Karunawan (Member of TIAG International)
BALANCE SHEET Dec-14 Dec-15 Dec-16 Dec-17 Mar-18 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
(Million Rp except Par Value) Assets Liabilities
Cash & Cash Equivalents 811,412 4,317,348 3,364,910 4,131,174 4,303,917 28,750
Receivables 3,214,051 3,311,392 1,596,824 1,852,385 3,858,382

23,000
Inventories 132,014 162,651 131,016 3,683,145 4,077,245

17,250
Investment 52,850 399,640 345,943 497,866 484,771
Fixed Assets 496,096 1,099,427 1,459,816 1,520,931 1,549,962
11,500
Other Assets 27,893 186,808 334,751 - -
Total Assets 10,458,882 16,761,064 20,095,436 28,332,948 27,254,457
5,750
Growth (%) 60.26% 19.89% 40.99% -3.81%
-
Trade Payable 4,923,213 6,489,310 8,372,701 11,610,970 12,103,642 2014 2015 2016 2017 Mar-18
Total Liabilities 8,707,338 11,598,932 14,652,656 22,463,031 21,311,163
Growth (%) 33.21% 26.33% 53.30% -5.13%
TOTAL EQUITY (Bill. Rp)
5,870 5,943
Authorized Capital 544,000 544,000 544,000 544,000 544,000 5,443
5,162
5,943
Paid up Capital 180,132 356,085 356,085 356,085 356,085

Paid up Capital (Shares) 1,801 3,561 3,561 3,561 3,561
4,731
Par Value 100 100 100 100 100

Retained Earnings 1,509,579 1,789,885 2,024,446 2,445,826 2,519,109
3,518
Total Equity 1,751,543 5,162,132 5,442,780 5,869,917 5,943,294 2,306
1,752
Growth (%) 194.72% 5.44% 7.85% 1.25%
1,094
INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Mar-18

Total Revenues 8,653,578 9,389,570 11,063,943 15,156,178 3,141,877
-119
2014 2015 2016 2017 Mar-18

Growth (%) 8.51% 17.83% 36.99%
Cost of Revenues 7,655,377 8,414,926 9,948,797 13,098,372 2,710,014

TOTAL REVENUES (Bill. Rp)
Gross Profit 998,202 1,006,724 1,184,570 2,288,748 433,965
Operating Expenses 273,318 395,494 455,979 581,077 123,885 15,156
Operating Profit 724,884 611,230 728,591 1,707,672 310,080

15,156
Growth (%) -15.68% 19.20% 134.38% 12,064 11,064

9,390
8,654
Other Income (Expenses) -125,327 134,861 -115,969 -750,390 -122,993 8,972
Income before Tax 599,557 746,091 612,622 957,282 187,086

Tax 267,896 281,066 297,515 440,222 113,710 5,881
3,142
Profit for the period 331,661 465,026 315,108 517,060 73,377
Growth (%) 40.21% -32.24% 64.09%
2,789
-303
Period Attributable 329,075 463,685 313,451 522,935 73,282 2014 2015 2016 2017 Mar-18
Comprehensive Income 304,311 878,754 404,657 524,579 73,377
Comprehensive Attributable 301,726 877,408 403,000 522,935 73,282
PROFIT FOR THE PERIOD (Bill. Rp)
RATIOS Dec-14 Dec-15 Dec-16 Dec-17 Mar-18 517
Dividend (Rp) 35.98 26.23 - 28.95 - 517
465
EPS (Rp) 184.12 130.59 88.49 145.21 20.61
BV (Rp) 972.37 1,449.69 1,528.51 1,648.46 1,669.07 412
332 315
DAR (X) 0.83 0.69 0.73 0.79 0.78
DER(X) 4.97 2.25 2.69 3.83 3.59
306
ROA (%) 3.17 2.77 1.57 1.82 0.27 201
ROE (%) 18.94 9.01 5.79 8.81 1.23

73
GPM (%) 11.54 10.72 10.71 15.10 13.81 95
OPM (%) 8.38 6.51 6.59 11.27 9.87

NPM (%) 3.83 4.95 2.85 3.41 2.34
-10
2014 2015 2016 2017 Mar-18

Payout Ratio (%) 19.54 20.08 - 19.94 -
Yield (%) 1.74 1.27 - 1.40 -

COMPANY REPORT
ADRO
ADARO ENERGY TBK.
Company Profile
PT Adaro Energy Tbk. was established July 28th, 2004. The company is a vertically integrated
energy producer in Indonesia with businesses along the coal, energy, utilities and supporting
infrastructure sectors. It’s deploy an integrated business model comprised of eight pillars: Adaro
Mining, Adaro Services, Adaro Logistics, Adaro Power, Adaro Land, Adaro Water, Adaro Capital
and Adaro Foundation.
The company is a leading Indonesian coal mining company and Indonesia's second-largest
producer of thermal coal. The company operates the largest single coal mine in the country (in
South Kalimantan) and aims to be a leading integrated coal mining and energy group in Southeast
Asia.
The Company produces coal that is less environment unfriendly due to its low content of sulfur,
nitrogen and ash. This coal is globally trademarked as envirocoal. About 25 percent of its coal
production is consumed on the domestic market, mainly for power generation by coal-fired
plants. Major export markets of Adaro Energy's coal are India, Spain, Japan, South Korea and
China. The subsidiaries combine with a range of contractors to produce and deliver coal with
industry-leading efficiency and low cost.
The Company’s head office is domiciled in Jakarta and located at Menara Karya, 23rd Floor, Jl. H.R.
Rasuna Said Block X-5, Kav. 1-2, South Jakarta. As June 30th, 2018, the Company and its
subsidiaries had 9,270 permanent employees.
August 2018
Disclaimer:

ADRO Adaro Energy Tbk.

Main Board Individual Index : 173.182
Industry Sector : Mining (2) Listed Shares : 31,985,962,000
Industry Sub Sector : Coal Mining (21) Market Capitalization : 60,933,257,610,000
19 | 60.9T | 0.91% | 56.49%
14 | 31.3T | 1.57% | 42.35%

Established Date : 28-Jul-2004 1. PT Adaro Strategic Investments 14,045,425,500 : 43.91%
Listing Date : 16-Jul-2008 2. Garibaldi Thohir 1,976,632,710 : 6.18%
Underwriter IPO : 3. Public (<5%) 15,963,903,790 : 49.91%
PT Danatama Makmur
Securities Administration Bureau : DIVIDEND ANNOUNCEMENT
PT Ficomindo Buana Registrar Bonus Cash Recording Payment
F/I
Year Shares Dividend Cum Date Ex Date Date Date
BOARD OF COMMISSIONERS 2008 11.80 25-Aug-09 26-Aug-09 28-Aug-09 11-Sep-09 F
1. Edwin Soeryadjaya 2009 12.00 11-Dec-09 14-Dec-09 16-Dec-09 30-Dec-09 I
2. Arini Saraswaty Subianto 2009 17.00 02-Jun-10 03-Jun-10 07-Jun-10 18-Jun-10 F
3. Palgunadi Tatit Setyawan *) 2010 9.85 26-Nov-10 29-Nov-10 01-Dec-10 10-Dec-10 I
4. Raden Pardede *) 2010 20.50 27-May-11 30-May-11 01-Jun-11 09-Jun-11 F
5. Theodore Permadi Rachmat 2011 21.35 28-Nov-11 29-Nov-11 01-Dec-11 09-Dec-11 I
*) Independent Commissioners 2011 53.66 29-May-12 30-May-12 01-Jun-12 12-Jun-12 F
2012 12.13 29-May-12 30-May-12 01-Jun-12 12-Jun-12 I
BOARD OF DIRECTORS 2012 10.65 26-Dec-12 27-Dec-12 02-Jan-13 15-Jan-13 I
1. Garibaldi Thohir 2012 12.36 29-May-13 30-May-13 03-Jun-13 12-Jun-13 F
2. Chia Ah Hoo 2013 15.30 24-Dec-13 27-Dec-13 02-Jan-14 16-Jan-14 I
3. Christian Ariano Rachmat 2013 13.47 26-May-14 28-May-14 02-Jun-14 12-Jun-14 F
4. David Tendian 2014 11.73 24-Dec-14 29-Dec-14 02-Jan-15 16-Jan-15 I
5. Julius Aslan 2014 18.52 30-Apr-15 04-May-15 06-May-15 27-May-15 F
6. M. Syah Indra Aman 2015 15.29 28-Dec-15 29-Dec-15 04-Jan-16 15-Jan-16 I
7. Siswanto Prawiroatmodjo 2015 17.51 25-Apr-16 26-Apr-16 28-Apr-16 20-May-16 F
2016 25.62 28-Dec-16 29-Dec-16 03-Jan-17 13-Jan-17 I
AUDIT COMMITTEE 2016 16.78 04-May-17 05-May-17 09-May-17 26-May-17 F
1. Palgunadi Tatit Setyawan 2017 42.25 28-Dec-17 29-Dec-17 03-Jan-18 12-Jan-18 I
2. Irwandy Arif 2017 65.39 30-Apr-18 02-May-18 04-May-18 18-May-18 F
3. Mamat Ma'Mun
ISSUED HISTORY
CORPORATE SECRETARY Listing Trading
Mahardika Putranto No. Type of Listing Shares Date Date
1. First Issue 11,139,331,000 16-Jul-08 16-Jul-08
HEAD OFFICE 2. Company Listing 20,846,631,000 16-Jul-08 16-Apr-09
Menara Karya 23th Floor
Jl. H.R. Rasuna Said, Blok X-5, Kv. 1-2
Jakarta 12950
Phone : (021) 2553-3000; 521-1265
Fax : (021) 2559-3083; 5794-4687
Homepage : www.adaro.com
Email : mahardika.putranto@ptadaro.com
investor.relations@adaro.com


TRADING ACTIVITIES
Adaro Energy Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
2,600 480 Jan-14 1,110 870 950 67,166 1,717,526 1,651,052 20
Feb-14 995 880 995 52,885 1,197,188 1,126,593 20
2,275 420 Mar-14 1,040 945 980 59,759 1,369,759 1,357,397 20
Apr-14 1,205 930 1,185 55,961 1,295,481 1,355,337 20
May-14 1,320 1,100 1,225 60,224 1,439,612 1,768,558 18
1,950 360
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
1,625 300
Aug-14 1,350 1,170 1,315 67,428 1,186,836 1,515,182 20
Sep-14 1,390 1,150 1,175 58,209 927,416 1,196,582 22
1,300 240
Oct-14 1,185 920 1,135 87,590 1,641,955 1,706,381 23
Nov-14 1,150 980 1,080 55,494 1,174,713 1,247,984 20
975 180 Dec-14 1,145 995 1,040 47,125 1,050,501 1,123,969 20
650 120 Jan-15 1,050 925 1,000 70,943 1,137,115 1,117,884 21

Feb-15 1,025 940 960 53,979 1,400,629 1,385,742 19
325 60 Mar-15 1,035 935 950 61,722 1,137,398 1,117,337 22
Apr-15 990 835 875 49,786 716,447 686,954 21
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
Aug-15 650 467 595 66,912 1,314,901 741,787 20
Sep-15 630 510 535 44,300 786,360 457,284 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-15 710 515 595 72,138 1,316,804 825,705 21
Mining Index Nov-15 660 525 550 40,268 801,156 481,184 21
January 2014 - July 2018 Dec-15 560 441 515 41,140 771,262 409,713 19
150%
Jan-16 540 437 525 49,972 717,704 348,594 20
120% Feb-16 655 500 605 49,294 992,131 591,215 20
Mar-16 800 610 645 78,161 1,559,369 1,113,338 21
90% Apr-16 770 645 730 62,752 1,311,115 936,423 21
79.7% May-16 730 655 710 42,427 699,543 490,135 20
60% Jun-16 945 705 850 85,576 2,086,354 1,771,262 22
49.0% Jul-16 1,090 860 1,040 57,749 1,195,084 1,207,282 16
37.2% Aug-16 1,200 1,015 1,150 92,405 1,438,700 1,627,227 22
30%
Sep-16 1,290 1,105 1,205 82,920 1,003,718 1,206,185 21
Oct-16 1,605 1,250 1,585 93,165 1,240,670 1,799,252 21
-
Nov-16 1,735 1,465 1,530 142,999 1,757,498 2,829,944 22
Dec-16 1,770 1,580 1,695 78,919 1,195,610 1,863,543 20
-30%
Jan-17 1,760 1,655 1,695 73,011 531,367 911,947 21

-60% Feb-17 1,755 1,615 1,695 53,483 535,620 910,453 19
Mar-17 1,845 1,565 1,750 81,339 704,697 1,205,722 22
-90% Apr-17 1,940 1,770 1,775 61,224 604,434 1,125,829 17
Jan 14 Jan 15 Jan 16 Jan 17 Jan 18 May-17 1,795 1,395 1,520 81,970 937,416 1,429,528 20
Jun-17 1,670 1,465 1,580 60,421 531,927 841,432 15
Jul-17 1,850 1,565 1,785 69,632 778,160 1,330,716 21
SHARES TRADED 2014 2015 2016 2017 Jul-18 Aug-17 1,995 1,805 1,825 80,189 835,382 1,554,666 22
Volume (Million Sh.) 15,254 11,977 15,197 8,996 11,574 Sep-17 1,930 1,630 1,825 80,279 723,828 1,300,512 19
Value (Billion Rp) 16,751 9,198 15,784 15,733 23,363 Oct-17 1,935 1,745 1,825 72,586 746,680 1,394,964 22
Frequency (Thou. X) 730 647 916 863 847 Nov-17 1,925 1,680 1,700 87,243 1,358,622 2,445,129 22
Days 242 244 246 238 138 Dec-17 1,905 1,695 1,860 61,672 708,242 1,281,650 18
Price (Rupiah) Jan-18 2,650 1,810 2,450 112,333 1,644,802 3,661,205 22

High 1,390 1,050 1,770 1,995 2,650 Feb-18 2,590 2,300 2,350 91,655 1,141,539 2,790,115 19
Low 870 441 437 1,395 1,575 Mar-18 2,420 1,945 2,130 119,529 1,686,873 3,599,491 21
Close 1,040 515 1,695 1,860 1,905 Apr-18 2,290 1,820 1,835 105,048 1,391,488 2,904,001 21
Close* 1,040 515 1,695 1,860 1,905 May-18 1,980 1,575 1,885 184,766 3,004,149 5,295,149 20
Jun-18 2,070 1,650 1,790 97,465 1,225,406 2,319,604 13
PER (X) 9.27 7.83 14.96 9.09 14.88 Jul-18 2,130 1,690 1,905 136,665 1,480,225 2,793,338 22
PER Industry (X) 3.23 0.60 -4.41 6.26 6.85
PBV (X) 0.81 0.36 1.18 1.07 1.06


Public Accountant : Tanudiredja, Wibisana, Rintis & Partners (Member of PricewaterhouseCoopers Global Network)
BALANCE SHEET Dec-14 Dec-15 Dec-16 Dec-17 Jun-18 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
Cash & Cash Equivalents 9,267,904 9,689,623 14,469,873 16,350,377 15,238,870 100,000
Receivables 3,571,196 2,732,288 4,099,162 4,354,964 5,025,800

1,203,096 1,004,079 986,431 1,157,893 1,704,267 80,000
Inventories
Current Assets 15,814,016 15,070,207 21,399,719 26,813,687 24,322,551
60,000
Fixed Assets 20,104,075 20,237,329 20,747,697 20,410,780 22,045,452
Other Assets 268,605 359,651 352,265 385,712 518,875
40,000
Total Assets 79,762,813 82,193,328 87,633,045 92,318,064 97,717,831
Growth (%) 3.05% 6.62% 5.35% 5.85% 20,000
Current Liabilities 9,632,863 6,269,001 8,660,241 10,476,695 11,245,404 -

Long Term Liabilities 29,595,155 29,672,453 28,105,694 26,408,005 26,467,797 2014 2015 2016 2017 Jun-18
Growth (%) -8.38% 2.29% 0.32% 2.25%
Authorized Capital 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 60,005
Paid up Capital 3,198,596 3,198,596 3,198,596 3,198,596 3,198,596 60,005
55,433
50,867
Paid up Capital (Shares) 31,986 31,986 31,986 31,986 31,986 46,252
Par Value 100 100 100 100 100 40,535
47,764

Total Equity 40,534,794 46,251,875 50,867,111 55,433,363 60,004,630
35,523
Growth (%) 14.10% 9.98% 8.98% 8.25% 23,282
INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Jun-18 11,041
Total Revenues 41,355,222 37,029,662 33,915,675 44,143,895 23,194,632

Growth (%) -10.46% -8.41% 30.16%
-1,200
2014 2015 2016 2017 Jun-18
Cost of Revenues 32,404,572 29,535,382 24,708,307 28,678,826 16,107,835

Gross Profit 8,950,649 7,494,280 9,207,368 15,465,069 7,086,797
Expenses (Income) 2,859,099 2,916,314 1,312,133 2,569,744 1,448,437
Operating Profit 6,091,551 4,577,967 7,895,235 12,895,325 5,638,359 44,144
41,355
Growth (%) -24.85% 72.46% 63.33%
44,144
37,030
33,916
35,139
Other Income (Expenses) -2,091,648 -716,019 -552,193 -302,039 -75,779

Income before Tax 3,999,903 3,861,948 7,343,043 12,593,286 5,562,580 26,133 23,195
Tax 1,721,080 1,779,012 2,765,586 5,325,624 2,335,378

Profit for the period 2,278,822 2,082,935 4,577,457 7,267,662 3,227,202 17,128
Growth (%) -8.60% 119.76% 58.77%

8,122
Period Attributable 2,212,327 2,102,757 4,495,968 6,547,708 2,814,297 -883
Comprehensive Income 1,845,565 2,433,220 5,129,462 7,019,639 3,551,393 2014 2015 2016 2017 Jun-18
Comprehensive Attributable 1,811,888 2,467,512 5,031,916 6,303,790 3,152,272
RATIOS Dec-14 Dec-15 Dec-16 Dec-17 Jun-18 PROFIT FOR THE PERIOD (Bill. Rp)
Current Ratio (%) 164.17 240.39 247.10 255.94 216.29
7,268
Dividend (Rp) 30.24 32.80 42.40 107.64 - 7,268
EPS (Rp) 69.17 65.74 140.56 204.71 87.99

BV (Rp) 1,267.27 1,446.01 1,590.29 1,733.05 1,875.97 5,785
4,577
DAR (X) 0.49 0.44 0.42 0.40 0.39
DER(X) 0.97 0.78 0.72 0.67 0.63
4,302
3,227
ROA (%) 2.86 2.53 5.22 7.87 3.30 2,279
2,820
2,083
ROE (%) 5.62 4.50 9.00 13.11 5.38
GPM (%) 21.64 20.24 27.15 35.03 30.55 1,337
OPM (%) 14.73 12.36 23.28 29.21 24.31

NPM (%) 5.51 5.63 13.50 16.46 13.91
-145
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 43.72 49.89 30.16 52.58 -
Yield (%) 2.91 6.37 2.50 5.79 -

COMPANY REPORT
AKRA
AKR CORPORINDO TBK.
Company Profile
PT AKR Corporindo Tbk. was established in Surabaya on November 28th, 1977. In 2004, the
Company changed its name from PT Aneka Kimia Raya Tbk. to PT AKR Corporindo Tbk. The Company
started its commercial operations in June 1978.
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 domiciled at Wisma AKR, 8th Floor, JI. 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.
PT AKR Corporindo Tbk. reported that the Company has been appointed by BPH Migas as the
Implementing Business Entity to Procure and Distribute Certain type of Fuels for the next 5 years
from 2018 to 2022. In 2018, AKR will get quota of 250,000 KL diesel fuel to be distributed
throughout Indonesia.
During 2017, awards for PT AKR Corporindo Tbk. : The Most Committed to Corporate Governance
(ranked 8th) by Finance Asia, Top 50 Public Listed Companies based on Asean Corporate
Governance Scorecard of IICD,The Most Innovative Business Award, The Best Annual Report, and
The Most Valuable Indonesian Brands.
As of June 30th, 2018, the Company and subsidiaries had 1,795 permanent employees.
August 2018
Disclaimer:

AKRA AKR Corporindo Tbk.

Industry Sector : Trade, Services & Investment (9) Listed Shares : 4,014,694,920
Industry Sub Sector : Wholesale (Durable & Non-Durable Goods) (91) Market Capitalization : 16,901,865,613,200
66 | 16.9T | 0.25% | 77.44%
44 | 11.3T | 0.57% | 70.24%

Established Date : 28-Nov-1977 1. PT Arthakencana Rayatama 2,349,056,120 : 58.51%
Listing Date : 03-Oct-1994 2. Public (<5%) 1,665,638,800 : 41.49%
Underwriter IPO :
PT Lippo Securities DIVIDEND ANNOUNCEMENT
F/I
PT Raya Saham Registra Year Shares Dividend Cum Date Ex Date Date Date
2010 30.00 19-Nov-10 22-Nov-10 24-Nov-10 09-Dec-10 I
BOARD OF COMMISSIONERS 2010 135.00 11-Mar-11 14-Mar-11 16-Mar-11 29-Mar-11 I
1. Soegiarto Adikoesoemo 2010 2.00 31-May-11 01-Jun-11 06-Jun-11 20-Jun-11 F
2. I Nyoman Mastra *) 2011 200.00 22-Aug-11 23-Aug-11 25-Aug-11 08-Sep-11 I
3. Mahendra Siregar 2011 25.00 06-Jun-12 07-Jun-12 11-Jun-12 25-Jun-12 F
*) Independent Commissioners 2012 40.00 26-Dec-12 27-Dec-12 02-Jan-13 16-Jan-13 I
2012 65.00 31-May-13 03-Jun-13 05-Jun-13 20-Jun-13 F
BOARD OF DIRECTORS 2013 50.00 18-Sep-13 19-Sep-13 23-Sep-13 04-Oct-13 I
1. Haryanto Adikoesoemo 2013 65.00 05-Jun-14 06-Jun-14 10-Jun-14 24-Jun-14 F
2. Arief Budiman Utomo 2014 50.00 09-Sep-14 10-Sep-14 12-Sep-14 26-Sep-14 I
3. Bambang Soetiono Soedijanto 2014 80.00 12-May-15 13-May-15 18-May-15 29-May-15 F
4. Jimmy Tandyo 2015 100.00 07-Aug-15 08-Aug-15 12-Aug-15 21-Aug-15 I
5. Mery Sofi 2015 20.00 09-May-16 10-May-16 12-May-16 25-May-16 F
6. Nery Polim 2016 70.00 02-Aug-16 03-Aug-16 05-Aug-16 25-Aug-16 I
7. Suresh Vembu 2016 50.00 28-Apr-17 02-May-17 04-May-17 19-May-17 F
8. Termurti Tiban 2017 100.00 01-Aug-17 02-Aug-17 04-Aug-17 15-Aug-17 I
2017 100.00 11-May-18 14-May-18 16-May-18 25-May-18 F
AUDIT COMMITTEE 2017 120.00 11-Jul-18 12-Jul-18 16-Jul-18 03-Aug-18 I
1. I Nyoman Mastra
2. Edwin Gerungan ISSUED HISTORY
3. Sahat Pardede Listing Trading
No. Type of Listing Shares Date Date
CORPORATE SECRETARY 1. First Issue 15,000,000 03-Oct-94 03-Oct-94
Harryati Utami 2. Company Listing 50,000,000 T: 03-Oct-94 : 06-May-95
3. Bonus Shares 39,000,000 01-Apr-96 01-Apr-96
HEAD OFFICE 4. Stock Split 2,600,000,000 T: 30-Sep-96 : 27-Jul-07
AKR Building 8th Floor 5. Right Issue 1,043,658,500 T: 20-Dec-04 : 16-Feb-10
Jl. Panjang No.5, Kebon Jeruk 6. MSOP V (2011) 3, I (2012) 2, I (2013) 1 22,714,000 T: 04-Apr-14 : 11-Apr-14
Jakarta 7. MSOP V (2011) 3, I (2012) 2, II (2013) 1 9,996,174 07-Oct-14 07-Oct-14
Phone : (021) 531-1110 8. MSOP I (2012) 2, II (2013) 1 200,000 09-Oct-14 09-Oct-14
Fax : (021) 531-1388 9. MSOP I (2012) 3, MSOP II (2013) 2 20,525,500 T: 06-Apr-15 : 07-Apr-15
Homepage : www.akr.co.id 10. MSOP I (2012) 3, MSOP II (2013) 2, MSOP 2014 5,549,400 T: 08-Apr-15 : 10-Apr-15
Email : ir@akr.co.id 11. MSOP Phase I Year 2012 Vesting 3 3,735,000 05-Oct-15 05-Oct-15
investor@akr.co.id 12. MSOP Phase II Year 2013 Vesting 2 3,546,261 T: 05-Oct-15 : 08-Oct-15
harryati.utami@akr.co.id 13. MSOP Year 2014 Vesting 1 2,036,400 T: 07-Oct-15 : 12-Oct-15
14. MSOP Year 2014 Vesting 2 14,647,500 08-Apr-16 08-Apr-16
15. MSOP Phase II Year 2013 26,549,435 T: 11-Apr-16 : 13-Apr-16
16. MSOP Year 2015 Vesting 1 1,554,000 T: 11-Oct-16 : 12-Oct-16
17. MSOP Year 2015 Vesting 2 8,660,250 T: 05-Apr-17 : 09-Oct-17
18. MSOP Year 2016 Vesting 1 5,888,000 T: 05-Apr-17 : 09-Oct-17
19. MSOP 2015 Vesting 3 6,466,250 T: 05-Apr-18 : 12-Apr-18
20. MSOP 2016 Vesting 2 153,000 05-Apr-18 05-Apr-18
21. MSOP 2017 Vesting 1 45,000 05-Apr-18 05-Apr-18
22. MSOP 2017 Vesting 3 1,701,250 T: 09-Apr-18 : 11-Apr-18


TRADING ACTIVITIES
AKR Corporindo Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
10,000 160 Jan-14 4,820 4,175 4,400 32,248 151,840 680,984 20
Feb-14 4,625 4,200 4,560 34,928 187,729 840,663 20
8,750 140 Mar-14 5,200 4,490 4,835 30,860 182,352 874,778 20
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
7,500 120
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
6,250 100
Aug-14 5,375 4,400 5,250 25,846 165,098 786,913 20
Sep-14 5,825 5,050 5,450 28,569 160,850 853,493 22
5,000 80
Oct-14 5,475 4,700 4,925 29,475 160,511 796,156 23
Nov-14 4,950 4,540 4,650 30,471 192,944 900,889 20
3,750 60 Dec-14 4,680 3,950 4,120 54,597 234,929 1,040,676 20
2,500 40 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
1,250 20 Mar-15 5,200 4,800 5,125 24,742 198,686 999,074 22
Apr-15 5,675 4,960 5,200 32,243 261,347 1,384,596 21
May-15 5,775 5,000 5,475 22,396 111,597 601,606 19
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
Aug-15 6,100 5,225 6,075 34,867 161,322 912,186 20
Sep-15 6,075 5,500 5,850 45,702 175,509 1,012,181 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-15 6,225 5,600 5,900 68,112 205,663 1,197,809 21
Trade, Sevices and Investment Index Nov-15 6,200 5,775 6,100 70,486 339,847 2,046,075 21
January 2014 - July 2018 Dec-15 7,300 6,075 7,175 45,178 156,416 1,055,458 19
105%
Jan-16 7,900 6,700 7,350 51,362 203,633 1,469,733 20
90% Feb-16 8,450 7,150 8,175 48,921 135,035 1,050,475 20
Mar-16 8,075 6,750 6,950 62,967 158,482 1,164,531 21
75% Apr-16 7,100 6,350 6,500 52,211 183,729 1,240,587 21
May-16 6,500 5,725 6,400 55,208 207,763 1,272,982 20
60% Jun-16 6,475 5,800 6,400 42,995 187,797 1,152,130 22
Jul-16 6,925 6,400 6,750 38,261 108,541 727,304 16
Aug-16 7,100 6,550 6,675 43,220 142,869 969,694 22
45%
Sep-16 6,950 6,200 6,450 30,439 95,807 637,583 21
37.2%
Oct-16 7,100 6,325 7,100 33,904 92,819 619,382 21
30%
Nov-16 7,075 6,300 6,675 41,080 93,118 629,803 22
Dec-16 6,775 5,400 6,000 44,065 95,054 587,752 20
15%
10.0%
Jan-17 6,875 5,650 6,675 29,072 87,885 552,709 21
- Feb-17 6,975 6,100 6,350 33,583 103,395 676,591 19
-5.9% Mar-17 6,750 6,050 6,250 43,221 156,567 995,019 22
-15% Apr-17 6,900 6,125 6,775 23,772 140,743 911,661 17
Jun-17 6,750 6,275 6,525 22,757 148,574 961,251 15
Jul-17 6,900 6,250 6,900 33,588 182,010 1,169,054 21
Days 242 244 246 238 138 Dec-17 6,475 5,925 6,350 32,337 104,789 651,083 18
Price (Rupiah) Jan-18 6,575 6,150 6,225 40,989 131,444 827,696 22

High 5,825 7,300 8,450 8,025 6,575 Feb-18 6,300 5,400 6,100 48,431 170,259 1,004,119 19
Low 3,950 4,110 5,400 5,650 3,960 Mar-18 6,150 5,500 5,675 37,538 146,539 860,620 21
Close 4,120 7,175 6,000 6,350 4,210 Apr-18 5,875 4,820 4,900 31,292 171,246 947,095 21
Close* 4,120 7,175 6,000 6,350 4,210 May-18 4,950 4,450 4,920 50,788 286,068 1,334,458 20
Jun-18 5,075 3,960 4,300 46,976 184,871 832,400 13
PER (X) 20.90 27.41 22.65 21.17 7.54 Jul-18 4,780 3,960 4,210 45,163 179,458 807,741 22
PER Industry (X) 22.13 14.53 19.07 17.44 3.45
PBV (X) 2.84 3.89 3.06 2.82 1.72


Public Accountant : Purwantono, Sungkoro & Surja (Member of Ernst & Young Global Limited)
Receivables 4,350,615 3,093,357 2,600,467 2,787,659 4,511,985

934,877 2,598,793 862,466 1,072,638 1,474,935 16,000
Inventories
Current Assets 6,719,745 7,285,599 7,391,379 8,816,349 11,098,666
12,000
Fixed Assets 4,390,207 4,469,498 4,561,738 4,214,694 4,124,209
Other Assets 21,220 40,963 47,249 51,034 134,071
8,000
Total Assets 14,791,917 15,203,130 15,830,741 16,823,209 19,254,388
Growth (%) 2.78% 4.13% 6.27% 14.45% 4,000

Growth (%) -10.35% -2.03% 0.48% 20.65%
Paid up Capital 391,364 393,971 399,178 400,633 401,469 9,852
9,030
7,286
Par Value 100 100 100 100 100
7,842
5,961
Total Equity 5,961,183 7,286,175 8,074,320 9,029,649 9,851,682
5,832
Growth (%) 22.23% 10.82% 11.83% 9.10% 3,822
Total Revenues 22,468,328 19,764,821 15,212,591 18,287,936 11,214,321

Growth (%) -12.03% -23.03% 20.22%
-197
2014 2015 2016 2017 Jun-18
Cost of Revenues 20,736,407 17,548,827 13,337,659 16,420,654 10,383,273

Gross Profit 1,731,920 2,215,994 1,874,932 1,867,281 831,048
Expenses (Income) 695,937 866,825 685,931 730,411 345,704
Operating Profit 1,063,170 1,349,170 1,175,362 1,136,871 485,345 22,468
Growth (%) 26.90% -12.88% -3.27% 19,765

22,468
18,288
15,213
17,885
Other Income (Expenses) -69,826 -32,149 -19,195 19,359 -16,572

Income before Tax 993,344 1,317,021 1,118,547 1,156,230 468,773 13,301
11,214
Tax 202,780 233,174 71,695 154,915 102,802
Profit for the period 790,563 1,058,741 1,046,852 1,304,601 1,101,759 8,718
Growth (%) 33.92% -1.12% 24.62%

4,134
Period Attributable 810,094 1,033,630 1,010,786 1,201,667 1,121,025 -449
Comprehensive Income 739,586 1,084,776 901,038 1,340,604 1,129,852 2014 2015 2016 2017 Jun-18
Comprehensive Attributable 756,333 1,046,610 878,161 1,234,585 1,132,296
Current Ratio (%) 108.67 149.56 127.09 162.38 166.10
1,305
Dividend (Rp) 130.00 120.00 120.00 320.00 - 1,305
1,102
EPS (Rp) 206.99 262.36 253.22 299.94 279.23 1,059 1,047
BV (Rp) 1,523.18 1,849.42 2,022.74 2,253.85 2,453.91 1,038
791
DAR (X) 0.60 0.52 0.49 0.46 0.49
DER(X) 1.48 1.09 0.96 0.86 0.95
772
ROA (%) 5.34 6.96 6.61 7.75 5.72 506
ROE (%) 13.26 14.53 12.97 14.45 11.18

GPM (%) 7.71 11.21 12.32 10.21 7.41 240
OPM (%) 4.73 6.83 7.73 6.22 4.33

NPM (%) 3.52 5.36 6.88 7.13 9.82
-26
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 62.80 45.74 47.39 106.69 -
Yield (%) 3.16 1.67 2.00 5.04 -

COMPANY REPORT
ANTM
ANEKA TAMBANG TBK.
Company Profile
PT Aneka Tambang Tbk. was established dated July 5rd, 1968. The company is a vertically integrated,
export-oriented, diversified mining and metals company in Indonesia. With operations spread
throughout the mineral-rich Indonesian archipelago, the company undertakes all activities from
exploration, exploitation, processing, refining to the marketing of nickel ore, ferronickel, gold, silver,
bauxite and coal and precious metals refining services.
The company makes its cash by exploring and discovering mineral deposits, extracting them and
processing them as economically and correctly as possible and selling them to long term loyal
customers in Europe and Asia. The company has been doing this profitably since its inception in 1968
and plans to continuing doing this for many years ahead.
The company’s main products are high grade nickel ore, also known as saprolite, low grade nickel ore,
also known as limonite, ferronickel, gold, silver, and bauxite. The company’s main services are precious
metal refining and geological services.
The company adopts corporate values known as PIONEER (Professionalism, Integrity, Global Mentality,
Harmony, Excellence, Reputation), which is actualized from a leadership with SENSE (Speed, Energize,
Respect, Courage) that will lead ANTAM workforce to an Human Capital excellence level that meet the
BEST (Beyond Expectations, Environment Awareness, Synergized Partnership) criteria.
External Accolades and Recognitions: Indonesia Green Awards 2017, The Winner of Indonesia Most
Innovative Business Award 2017 Kategori Steel and Other Minerals, The 1st Champion of Indonesia
Original Brands 2017 - Kategori Logam Mulia, Indonesia Sustainable Development Goals (ISDA) Awards
2017, The 1st ASEAN Mineral Awards di Myanmar, etc.
The Company’s head office is domiciled in Jakarta and located at Aneka Tambang Building, Jl. Letjen TB
Simatupang No 1 Lingkar Selatan, Tanjung Barat, Jakarta 12530. As of March 31st, 2018, the company
and subsidiaries had 3,240 permanent employees.
August 2018
Disclaimer:
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.

ANTM Aneka Tambang Tbk.

Industry Sub Sector : Metal And Mineral Mining (23) Market Capitalization : 21,988,149,723,375
53 | 22.0T | 0.33% | 73.77%
35 | 15.5T | 0.77% | 64.52%

Established Date : 05-Jul-1968 1. PT Indonesia Asahan Aluminium (Persero) 15,619,999,999 : 65.00%
Listing Date : 27-Nov-1997 2. Public (<5%) 8,410,764,726 : 35.00%
Underwriter IPO :
Danarkesa Sekuritas DIVIDEND ANNOUNCEMENT
Bahana Securities Bonus Cash Recording Payment
F/I
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
1998 50.00 29-Jun-99 30-Jun-99 08-Jul-99 06-Aug-99 F
BOARD OF COMMISSIONERS 1998 53.87 04-Oct-99 05-Oct-99 13-Oct-99 10-Nov-99 F
1. Fachrul Razi 1999 79.19 05-Jun-00 06-Jun-00 14-Jun-00 28-Jun-00 F
2. Anang Sri Kusuwardono *) 2000 80.00 23-Jul-01 24-Jul-01 27-Jul-01 10-Aug-01 F
3. Bambang Gatot Ariyono 2000 75.66 23-Oct-01 24-Oct-01 29-Oct-01 12-Nov-01 F
4. Gumilar Rusliwa Somantri *) 2001 100 : 55 10-Jul-02 11-Jul-02 17-Jul-02 30-Jul-02 BS
5. Robert A. Simanjuntak 2001 47.10 05-Aug-02 06-Aug-02 09-Aug-02 23-Aug-02 F
6. Zaelani 2001 46.77 28-Oct-02 29-Oct-02 01-Nov-02 15-Nov-02 F
*) Independent Commissioners 2002 34.42 17-Jul-03 18-Jul-03 21-Jul-03 05-Aug-03 F
2003 38.60 18-Jun-04 21-Jun-04 23-Jun-04 30-Jun-04 F
BOARD OF DIRECTORS 2004 19.60 23-Dec-04 27-Dec-04 29-Dec-04 10-Jan-05 I
1. Arie Prabowo Ariotedjo 2004 128.48 20-Jun-05 21-Jun-05 23-Jun-05 30-Jun-05 F
2. Dimas Wikan Pramudhito 2005 150.05 22-Jun-06 23-Jun-06 27-Jun-06 11-Jul-06 F
3. Hari Widjajanto 2006 325.58 21-Jun-07 22-Jun-07 26-Jun-07 06-Jul-07 F
4. Johan N. B. Nababan 2007 215.23 17-Jul-08 18-Jul-08 22-Jul-08 01-Aug-08 F
5. Sutrisno S. Tatetdagat 2008 57.47 17-Jun-09 18-Jun-09 22-Jun-09 03-Jul-09 F
6. Tatang Hendra 2009 25.38 28-Jun-10 29-Jun-10 01-Jul-10 15-Jul-10 F
2010 70.71 06-Jul-11 07-Jul-11 11-Jul-11 25-Jul-11 F
AUDIT COMMITTEE 2011 90.99 27-Jun-12 28-Jun-12 02-Jul-12 16-Jul-12 F
1. Gumilar Rusliwa Somantri 2012 47.09 29-May-13 30-May-13 03-Jun-13 18-Jun-13 F
2. Musyid Amal 2013 9.67 29-Apr-14 30-Apr-14 05-May-14 20-May-14 F
3. Rukmana Nugraha Adhi 2017 1.99 19-Apr-18 20-Apr-18 24-Apr-18 16-May-18 I
4. Zaelani
ISSUED HISTORY
CORPORATE SECRETARY Listing Trading
Aprilandi Hidayat Setia No. Type of Listing Shares Date Date
1. Negara RI (Series A) 1 27-Nov-97 27-Nov-97
HEAD OFFICE 2. First Issue 430,769,000 27-Nov-97 27-Nov-97
Aneka Tambang Building Tower A 3. Company Listing 799,999,999 27-Nov-97 27-Nov-97
Jl. Letjen TB. Simatupang No. 1, Lingkar Selatan Tanjung Barat 4. Bonus Shares 676,922,950 30-Jul-02 30-Jul-02
Jakarta 12530 5. Stock Split 7,630,767,800 12-Jul-07 12-Jul-07
Phone : (021) 789-1234 6. Right Issue I 9,770,941,207 27-Oct-15 27-Oct-15
Fax : (021) 789-1224 7. Right Issue I 1,419,898,697 28-Oct-15 28-Oct-15
Homepage : www.antam.com 8. Right Issue I 1,738,706,667 30-Oct-15 30-Oct-15
Email : corsec@antam.com 9. Right Issue I 1,144,096,939 02-Nov-15 02-Nov-15
eko.endriawan@antam.com 10. Right Issue I 418,661,465 03-Nov-15 03-Nov-15


TRADING ACTIVITIES
Aneka Tambang Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
1,200 800 Jan-14 1,110 950 1,030 43,472 652,147 670,288 20
Feb-14 1,080 995 1,040 34,919 573,538 597,164 20
1,050 700 Mar-14 1,190 1,025 1,135 53,411 1,188,495 1,334,140 20
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
900 600
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
750 500
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
600 400
Oct-14 1,110 925 970 35,500 400,479 390,151 23
Nov-14 1,010 920 980 20,237 247,078 237,171 20
450 300 Dec-14 1,120 945 1,065 25,530 315,920 321,526 20
300 200 Jan-15 1,135 1,015 1,065 27,277 358,666 386,504 21

Feb-15 1,080 990 1,005 15,857 198,657 206,880 19
150 100 Mar-15 1,020 850 865 18,637 173,597 176,292 22
Apr-15 925 790 795 13,826 119,720 111,098 21
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
Aug-15 655 450 500 46,189 739,580 428,743 20
Sep-15 540 465 486 34,277 416,378 208,489 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-15 540 372 378 131,861 3,888,004 1,600,412 21
Mining Index Nov-15 380 306 315 131,304 4,300,732 1,499,127 21
January 2014 - July 2018 Dec-15 337 285 314 50,579 1,421,659 445,595 19
80%
Jan-16 335 292 329 62,777 2,410,865 759,355 20
60% Feb-16 375 328 364 53,244 2,717,517 984,664 20
49.0% Mar-16 481 360 464 79,723 4,128,364 1,879,203 21
40% Apr-16 775 458 760 113,912 5,409,195 3,476,843 21
37.2%
May-16 780 625 650 47,998 1,825,883 1,303,940 20
20% Jun-16 780 640 725 84,693 3,099,489 2,265,324 22
Jul-16 860 710 795 77,562 2,315,202 1,836,504 16
Aug-16 840 695 720 68,878 1,699,867 1,345,673 22
- 0.9%
Sep-16 850 615 820 77,349 2,673,099 1,983,203 21
Oct-16 900 770 895 77,772 4,196,316 3,612,322 21
-20%
Nov-16 1,005 865 970 85,469 3,883,073 3,643,626 22
Dec-16 980 850 895 41,128 1,547,377 1,400,943 20
-40%
Jan-17 930 795 800 60,157 1,892,375 1,625,427 21

-60% Feb-17 860 740 745 50,104 977,952 785,183 19
Mar-17 785 690 730 50,757 842,749 625,636 22
-80% Apr-17 745 690 695 30,088 389,439 277,889 17
Jan 14 Jan 15 Jan 16 Jan 17 Jan 18 May-17 790 595 775 56,729 1,520,556 1,076,788 20
Jun-17 780 690 695 27,157 691,973 509,036 15
Jul-17 740 685 690 25,623 923,184 691,781 21
SHARES TRADED 2014 2015 2016 2017 Jul-18 Aug-17 765 645 740 60,438 1,430,385 1,031,233 22
Volume (Million Sh.) 6,313 12,009 35,906 12,161 13,966 Sep-17 755 620 640 39,750 839,911 579,507 19
Value (Billion Rp) 7,046 5,387 24,492 9,060 11,983 Oct-17 675 635 645 24,688 518,189 344,558 22
Frequency (Thou. X) 381 515 871 499 487 Nov-17 725 645 665 53,627 1,237,669 851,948 22
Days 242 244 246 238 138 Dec-17 665 600 625 19,555 896,922 661,195 18
Price (Rupiah) Jan-18 940 625 915 98,849 3,226,607 2,534,952 22

High 1,290 1,135 1,005 930 1,015 Feb-18 960 790 955 64,684 1,715,448 1,527,403 19
Low 920 285 292 595 625 Mar-18 955 765 775 47,690 1,934,347 1,642,657 21
Close 1,065 314 895 625 915 Apr-18 945 775 845 66,456 2,187,406 1,884,055 21
Close* 895 314 895 625 915 May-18 900 775 865 52,319 946,527 801,124 20
Jun-18 1,015 805 890 65,860 2,153,604 2,002,910 13
PER (X) -13.51 -5.24 421.47 110.03 22.37 Jul-18 960 765 915 91,636 1,801,765 1,589,614 22
PER Industry (X) 3.23 0.60 -4.41 6.26 6.85
PBV (X) 0.84 0.41 1.17 0.81 1.17


Receivables 1,098,938 578,145 990,485 1,377,350 1,068,613

1,761,888 1,752,585 1,388,416 1,257,785 1,627,760 25,000
Inventories
Current Assets 6,343,110 11,252,827 10,630,222 9,001,939 9,975,078
18,750
Fixed Assets 8,699,660 12,267,804 12,958,946 14,092,995 14,221,264
Other Assets 88,724 81,249 74,723 - -
12,500
Total Assets 22,044,202 30,356,851 29,981,536 30,014,273 31,224,071
Growth (%) 37.71% -1.24% 0.11% 4.03% 6,250

Long Term Liabilities 6,251,724 7,700,802 7,220,427 5,971,408 6,804,153 2014 2015 2016 2017 Mar-18
Growth (%) 19.04% -3.88% -0.42% 8.44%
18,317 18,409 18,490
Paid up Capital 953,846 2,403,076 2,403,076 2,403,076 2,403,076 18,728

Par Value 100 100 100 100 100
14,907
11,930
Total Equity 11,929,561 18,316,719 18,408,796 18,490,404 18,727,757
11,087
Growth (%) 53.54% 0.50% 0.44% 1.28% 7,266
INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Mar-18 3,446
Total Revenues 9,420,631 10,531,505 9,106,261 12,653,619 5,731,416

Growth (%) 11.79% -13.53% 38.96%
-375
2014 2015 2016 2017 Mar-18
Cost of Revenues 8,644,136 10,336,364 8,254,466 11,009,727 5,003,614

Gross Profit 776,495 195,141 851,795 1,643,892 727,803
Expenses (Income) 955,900 896,579 843,639 1,043,286 249,042
Operating Profit -179,405 -701,439 8,156 600,606 478,761 12,654
Growth (%) -290.98% N/A 7,263.93%

12,654
10,532
10,072
9,421 9,106
Other Income (Expenses) -653,730 -967,335 229,136 -146,210 -164,157
Income before Tax -833,135 -1,668,774 237,292 454,397 314,604
5,731
7,491
Tax -57,849 -227,921 172,485 317,893 68,925

Profit for the period -775,286 -1,440,853 64,806 136,503 245,678 4,910
Growth (%) -85.85% N/A 110.63%

2,328
Period Attributable -775,287 -1,440,852 64,810 136,503 245,679 -253
Comprehensive Income -775,179 912,556 92,077 81,608 237,353 2014 2015 2016 2017 Mar-18
Comprehensive Attributable -775,180 912,557 92,081 81,611 237,354
RATIOS Dec-14 Dec-15 Dec-16 Dec-17 Mar-18 PROFIT FOR THE PERIOD (Bill. Rp)
Current Ratio (%) 164.21 259.32 244.24 162.13 175.24
246
Dividend (Rp) - - - 1.99 - 65
137
2014 2015
EPS (Rp) -81.28 -59.96 2.70 5.68 10.22
BV (Rp) 1,250.68 762.22 766.05 769.45 779.32 -92
2016 2017 Mar-18

DAR (X) 0.46 0.40 0.39 0.38 0.40
DER(X) 0.85 0.66 0.63 0.62 0.67
-429
ROA (%) -3.52 -4.75 0.22 0.45 0.79 -766
ROE (%) -6.50 -7.87 0.35 0.74 1.31 -775

GPM (%) 8.24 1.85 9.35 12.99 12.70 -1,104
OPM (%) -1.90 -6.66 0.09 4.75 8.35

NPM (%) -8.23 -13.68 0.71 1.08 4.29
-1,441
-1,441
Payout Ratio (%) - - - 35.03 -
Yield (%) - - - 0.32 -

ASII Astra International Tbk.

Industry Sector : Miscellaneous Industry (4) Listed Shares : 40,483,553,140
Industry Sub Sector : Automotive And Components (42) Market Capitalization : 289,457,404,951,000
7 | 289.5T | 4.33% | 40.01%
5 | 69.0T | 3.46% | 24.63%

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%
Underwriter IPO :
PT Danareksa Sekuritas DIVIDEND ANNOUNCEMENT
F/I
1995 90.00 25-Jun-96 26-Jun-96 04-Jul-96 31-Jul-96 F
BOARD OF COMMISSIONERS 1996 120.00 30-Jun-97 01-Jul-97 09-Jul-97 29-Jul-97 F
1. Budi Setiadharma 2003 50.00 01-Dec-03 02-Dec-03 04-Dec-03 18-Dec-03 I
2. Adrian Teng Wei Ann 2003 170.00 28-Jun-04 29-Jun-04 01-Jul-04 14-Jul-04 F
3. Anthony John Liddell Nightingale 2004 100.00 01-Nov-04 02-Nov-04 04-Nov-04 12-Nov-04 I
4. Benjamin William Keswick 2004 270.00 16-Jun-05 17-Jun-05 21-Jun-05 04-Jul-05 F
5. David Alexander Newbigging 2005 100.00 09-Nov-05 10-Nov-05 14-Nov-05 24-Nov-05 I
6. John Raymond Witt 2005 340.00 15-Jun-06 16-Jun-06 20-Jun-06 04-Jul-06 F
7. Mark Spencer Greenberg 2006 150.00 20-Oct-06 30-Oct-06 01-Nov-06 15-Nov-06 I
8. Muhamad Chatib Basri *) 2006 290.00 14-Jun-07 15-Jun-07 19-Jun-07 03-Jul-07 F
9. Sri Indrastuti Hadiputranto *) 2007 160.00 29-Oct-07 30-Oct-07 01-Nov-07 15-Nov-07 I
10. Yasutoshi Sugimoto *) 2008 300.00 28-Oct-08 29-Oct-08 31-Oct-08 14-Nov-08 I
*) Independent Commissioners 2008 570.00 17-Jun-09 18-Jun-09 22-Jun-09 03-Jul-09 F
2009 830.00 16-Jun-10 17-Jun-10 21-Jun-10 05-Jul-10 F
BOARD OF DIRECTORS 2010 470.00 27-Oct-10 28-Oct-10 01-Nov-10 15-Nov-10 I
1. Prijono Sugiarto 2011 600.00 26-Oct-11 27-Oct-11 31-Oct-11 14-Nov-11 I
2. Bambang Widjanarko Santoso 2011 1,380.00 16-May-12 21-May-12 23-May-12 06-Jun-12 F
3. Chiew Sin Cheok 2012 66.00 18-Oct-12 19-Oct-12 23-Oct-12 07-Nov-12 I
4. Djony Bunarto Tjondro 2012 150.00 20-May-13 21-May-13 23-May-13 07-Jun-13 F
5. Gidion Hasan 2013 64.00 10-Oct-13 11-Oct-13 17-Oct-13 31-Oct-13 I
6. Gita Tiffani Boer 2013 152.00 22-May-14 23-May-14 28-May-14 12-Jun-14 F
7. Henry Tanoto 2014 64.00 14-Oct-14 15-Oct-14 17-Oct-14 31-Oct-14 I
8. Johannes Loman 2014 152.00 06-May-15 07-May-15 11-May-15 29-May-15 F
9. Santosa 2015 64.00 25-Sep-15 28-Sep-15 30-Sep-15 21-Oct-15 I
10. Suparno Djasmin 2015 113.00 04-May-16 09-May-16 11-May-16 27-May-16 F
2016 55.00 26-Sep-16 27-Sep-16 29-Sep-16 21-Oct-16 I
AUDIT COMMITTEE 2016 113.00 28-Apr-17 02-May-17 04-May-17 19-May-17 F
1. Muhamad Chatib Basri 2017 55.00 02-Oct-17 03-Oct-17 05-Oct-17 27-Oct-17 I
2. Adrian Teng Wei Ann 2017 130.00 03-May-18 04-May-18 08-May-18 25-May-18 F
3. Angky Utarya Tisnadisastra
4. Lindawati Gani ISSUED HISTORY
Listing Trading
CORPORATE SECRETARY No. Type of Listing Shares Date Date
Gita Tiffany Boer 1. First Issue 30,000,000 04-Apr-90 04-Apr-90
2. Partial Listing 24,805,000 T: 04-Apr-90 : 04-Oct-90
HEAD OFFICE 3. Company Listing 184,893,000 T: 18-Dec-91 : 02-Jan-92
AMDI Building 4. Koperasi 2,500,000 T: 18-Dec-91 : 31-Dec-99
Jl. Gaya Motor Raya No. 8 Sunter II 5. Right Issue 1,453,219,775 T: 03-Jan-94 : 21-Jan-03
Jakarta 14330 6. Bonus Shares 871,912,800 08-Sep-94 08-Sep-94
Phone : (021) 652-2555 7. CB Conversion 280,837 T: 12-Mar-97 : 07-Aug-97
Fax : (021) 6530-4957 8. Stock Split 37,598,029,063 T: 01-Sep-97 : 05-Jun-12
Homepage : www.astra.co.id 9. Right Conversion 262,168,650 T: 24-Apr-00 : 19-Jan-04
Email : purel@ai.astra.co.id 10. Option I 8,637,003 T: 16-Oct-00 : 16-Feb-01
investor@ai.astra.co.id 11. Option I Conversion 16,203,924 T: 31-Jul-01 : 26-Apr-02
12. Option II Conversion 30,903,088 T: 26-Apr-02 : 25-May-04


TRADING ACTIVITIES
Astra International Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
10,000 320 Jan-14 7,400 6,250 6,425 86,235 784,137 5,339,224 20
Feb-14 7,000 6,225 6,950 81,243 984,624 6,596,656 20
8,750 280 Mar-14 8,000 6,725 7,375 94,022 1,300,924 9,611,270 20
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
7,500 240
Jun-14 7,525 7,075 7,275 72,784 680,106 4,942,665 21
Jul-14 8,050 7,325 7,725 70,195 797,969 6,102,553 18
6,250 200
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
5,000 160
Oct-14 7,075 6,325 6,775 92,669 963,442 6,379,608 23
Nov-14 7,200 6,700 7,125 59,454 514,457 3,588,238 20
3,750 120 Dec-14 7,475 6,850 7,425 65,313 623,730 4,447,913 20
2,500 80 Jan-15 8,100 7,000 7,850 80,784 804,490 6,050,554 21

Feb-15 8,175 7,450 7,850 72,728 692,429 5,401,520 19
1,250 40 Mar-15 8,575 7,800 8,575 77,266 1,094,749 8,817,908 22
Apr-15 8,575 6,700 6,850 81,463 962,611 7,475,288 21
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
Aug-15 6,875 5,450 5,925 83,564 881,000 5,385,567 20
Sep-15 6,200 4,975 5,225 79,802 590,132 3,412,962 21
Miscellaneous Industry Index Nov-15 6,850 5,800 5,925 105,808 1,168,021 7,428,850 21
January 2014 - July 2018 Dec-15 6,600 5,800 6,000 102,962 1,002,948 6,241,308 19
75%
Jan-16 6,450 5,700 6,450 100,020 1,286,937 7,745,522 20
60% Feb-16 7,150 6,050 6,800 114,269 1,323,536 8,865,281 20
Mar-16 7,525 6,575 7,250 97,271 1,019,546 7,273,311 21
45% Apr-16 7,850 6,600 6,725 85,928 904,645 6,505,517 21
37.2% May-16 6,800 6,000 6,600 83,719 892,157 5,771,878 20
30% Jun-16 7,400 6,500 7,400 95,059 976,858 6,664,491 22
Jul-16 7,825 6,975 7,725 85,978 1,025,887 7,578,146 16
Aug-16 8,650 7,650 8,150 107,608 1,328,778 10,777,443 22
15%
Sep-16 8,875 7,700 8,250 90,887 905,514 7,520,722 21
2.9% Oct-16 8,600 8,075 8,225 83,200 790,440 6,572,517 21
- 1.0% Nov-16 8,400 7,300 7,550 107,226 978,647 7,745,903 22
Dec-16 8,275 7,325 8,275 80,062 643,082 5,007,909 20
-15%
Jan-17 8,250 7,900 7,950 64,767 515,769 4,162,657 21

-30% Feb-17 8,425 7,850 8,200 69,729 619,361 5,009,369 19
Mar-17 8,800 8,100 8,625 86,727 1,253,345 10,615,445 22
-45% Apr-17 9,350 8,350 8,950 70,794 583,383 5,095,422 17
Jun-17 9,150 8,650 8,925 51,178 501,548 4,444,226 15
Jul-17 9,025 7,900 7,975 86,368 1,096,363 9,273,202 21
Frequency (Thou. X) 928 1,011 1,131 885 591 Nov-17 8,600 7,975 7,975 71,522 707,716 5,845,364 22
Days 242 244 246 238 138 Dec-17 8,475 7,975 8,300 70,522 625,556 5,132,392 18
Price (Rupiah) Jan-18 8,750 8,000 8,500 90,912 764,322 6,372,847 22

High 8,050 8,575 8,875 9,350 8,750 Feb-18 8,750 8,000 8,075 71,003 633,775 5,271,947 19
Low 6,225 4,975 5,700 7,625 6,100 Mar-18 8,200 7,050 7,300 108,407 940,206 7,095,199 21
Close 7,425 6,000 8,275 8,300 7,150 Apr-18 7,975 7,050 7,150 70,582 666,391 4,990,119 21
Close* 7,425 6,000 8,275 8,300 7,150 May-18 7,400 6,525 6,900 94,082 1,003,839 7,041,383 20
Jun-18 7,100 6,275 6,600 67,440 726,895 4,915,951 13
PER (X) 15.56 16.79 22.28 17.80 13.94 Jul-18 7,150 6,100 7,150 88,391 737,595 4,872,118 22
PER Industry (X) 14.44 0.95 13.86 4.78 21.61
PBV (X) 2.60 1.92 2.54 2.15 1.79


Receivables 54,759,000 53,005,000 55,063,000 61,472,000 66,937,000

16,986,000 18,337,000 17,771,000 19,504,000 20,381,000 250,000
Inventories
Current Assets 97,241,000 105,161,000 110,403,000 121,293,000 124,947,000
187,500
Fixed Assets 41,250,000 41,702,000 43,237,000 48,402,000 51,557,000
Other Assets 2,869,000 2,978,000 3,007,000 4,846,000 5,121,000
125,000
Total Assets 236,029,000 245,435,000 261,855,000 295,646,000 309,336,000
Growth (%) 3.99% 6.69% 12.90% 4.63% 62,500

Growth (%) 2.76% 2.56% 14.24% 5.84%
156,329
Paid up Capital 2,024,178 2,024,000 2,024,178 2,024,178 2,024,178
139,906
120,324
Par Value 50 50 50 50 50
128,856

Total Equity 120,324,000 126,533,000 139,906,000 156,329,000 161,880,000
95,833
Growth (%) 5.16% 10.57% 11.74% 3.55% 62,809
Total Revenues 201,701,000 184,196,000 181,084,000 206,057,000 112,554,000

Growth (%) -8.68% -1.69% 13.79%
-3,238
2014 2015 2016 2017 Jun-18
Cost of Revenues 162,892,000 147,486,000 144,652,000 163,689,000 89,298,000

Gross Profit 38,809,000 36,710,000 36,432,000 42,368,000 23,256,000
Expenses (Income) 11,457,000 17,080,000 14,179,000 13,172,000 6,622,000
Operating Profit - - - - - 201,701 206,057
184,196 181,084
Growth (%)
206,057
164,021
Other Income (Expenses) - - - - -

27,352,000 19,630,000 22,253,000 29,196,000 16,634,000 112,554
Income before Tax 121,986
Tax 5,227,000 4,017,000 3,951,000 6,031,000 3,440,000

Growth (%) -29.43% 17.22% 26.57%

37,914
Period Attributable 19,181,000 14,464,000 15,156,000 18,881,000 10,384,000 -4,121
Current Ratio (%) 132.26 137.93 123.94 122.86 129.81
23,165
216.00 177.00 168.00 185.00 - 22,125
Dividend (Rp) 23,165
EPS (Rp) 473.80 357.31 374.37 466.39 256.50 18,302

BV (Rp) 2,972.17 3,125.82 3,455.87 3,861.54 3,998.66 18,439
15,613
DAR (X) 0.49 0.48 0.47 0.47 0.48 13,194
DER(X) 0.96 0.94 0.87 0.89 0.91
13,714
ROA (%) 9.37 6.36 6.99 7.84 4.27 8,988
ROE (%) 18.39 12.34 13.08 14.82 8.15

GPM (%) 19.24 19.93 20.12 20.56 20.66 4,262
OPM (%) - - - - -
NPM (%) 10.97 8.48 10.11 11.24 11.72
-463
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 45.59 49.54 44.87 39.67 -
Yield (%) 2.91 2.95 2.03 2.23 -

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 company 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. The company is Indonesia’s largest
lender by market value and the second largest bank by assets.
The company offers both individual and business products and services. Its individual products
and services consist of savings accounts, electronic banking, credit cards, bank assurance,
investment products, consumer credit products, remittance, collection and safe deposit
facilities. Its business products and services consist of BCA trade, savings accounts, working
capital loans, investment loans and bank guarantees for small and medium- sized enterprises,
as well as for corporate customers.
As of December 30th, 2017, BCA had 1,235 domestics branches and 2 overseas representatives
located in Hong Kong and Singapore.
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, PT Central Santosa Finance, PT
Asuransi Jiwa BCA, and PT Central Capital Ventura.
The Company’s head office is domiciled in Jakarta and located at BCA Tower, Grand Indonesia,
Jl. MH Thamrin No.1, Jakarta 10310. As at June 30th, 2018, BCA had 26,773 permanent
employees.
August 2018
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.

BBCA Bank Central Asia Tbk.

Industry Sector : Finance (8) Listed Shares : 24,408,459,120
Industry Sub Sector : Bank (81) Market Capitalization : 568,106,886,018,000
1 | 568.1T | 8.49% | 8.49%
3 | 99.3T | 4.97% | 16.72%

Established Date : 10-Aug-1955 1. PT Dwimuria Investama Andalan 13,545,990,000 : 55.50%
Listing Date : 31-May-2000 2. Public (<5%) 10,862,469,120 : 44.50%
Underwriter IPO :
Danareksa Sekuritas DIVIDEND ANNOUNCEMENT
Bahana Securities Tbk Bonus Cash Recording Payment
F/I
Securities Administration Bureau : Year Shares Dividend Cum Date Ex Date Date Date
PT Raya Saham Registra 2001 85.00 14-Nov-01 15-Nov-01 20-Nov-01 04-Dec-01 I
2001 140.00 29-Oct-02 30-Oct-02 01-Nov-02 15-Nov-02 F
BOARD OF COMMISSIONERS 2002 225.00 03-Dec-03 04-Dec-03 08-Dec-03 19-Dec-03 F
1. Djohan Emir Setijoso 2003 225.00 30-Jun-04 01-Jul-04 06-Jul-04 20-Jul-04 F
2. Cyrillus Harinowo *) 2004 50.00 22-Nov-04 23-Nov-04 25-Nov-04 08-Dec-04 F
3. Raden Pardede *) 2004 80.00 19-Jul-05 20-Jul-05 22-Jul-05 05-Aug-05 F
4. Sumantri Slamet *) 2005 50.00 06-Oct-05 07-Oct-05 11-Oct-05 25-Oct-05 I
5. Tonny Kusnadi 2005 90.00 06-Jun-06 07-Jun-06 09-Jun-06 23-Jun-06 F
*) Independent Commissioners 2006 55.00 10-Oct-06 11-Oct-06 13-Oct-06 03-Nov-06 I
2006 115.00 08-Jun-07 11-Jun-07 13-Jun-07 27-Jun-07 I
BOARD OF DIRECTORS 2007 55.00 29-Nov-07 30-Nov-07 04-Dec-07 18-Dec-07 I
1. Jahja Setiaatmadja 2007 63.50 12-Jun-08 13-Jun-08 17-Jun-08 01-Jul-08 F
2. Armand Wahyudi Hartono 2008 35.00 15-Jan-09 16-Jan-09 20-Jan-09 30-Jan-09 I
3. Erwan Yuris Ang 2008 65.00 09-Jun-09 10-Jun-09 12-Jun-09 26-Jun-09 F
4. Eugene Keith Galbraith 2009 40.00 12-Nov-09 13-Nov-09 17-Nov-09 02-Dec-09 I
5. Henry Koenaifi 2009 70.00 31-May-10 01-Jun-10 03-Jun-10 17-Jun-10 F
6. Inawaty Handoyo 2010 42.50 19-Nov-10 22-Nov-10 24-Nov-10 09-Dec-10 I
7. Lianawaty Suwono 2010 70.00 06-Jun-11 07-Jun-11 09-Jun-11 23-Jun-11 F
8. Rudy Susanto 2011 43.50 06-Dec-11 07-Dec-11 09-Dec-11 23-Dec-11 I
9. Santoso 2011 113.50 08-Jun-12 11-Jun-12 13-Jun-12 27-Jun-12 F
10. Subur Tan 2012 43.50 03-Dec-12 04-Dec-12 06-Dec-12 20-Dec-12 I
11. Suwignyo Budiman 2012 71.00 28-May-13 29-May-13 31-May-13 17-Jun-13 F
12. Vera Eve Lim 2013 45.00 28-Nov-13 29-Nov-13 03-Dec-13 17-Dec-13 I
2013 120.00 29-Apr-14 30-Apr-14 05-May-14 20-May-14 F
AUDIT COMMITTEE 2014 50.00 04-Dec-14 05-Dec-14 09-Dec-14 23-Dec-14 I
1. Cyrillus Harinowo 2014 148.00 16-Apr-15 17-Apr-15 21-Apr-15 13-May-15 F
2. Ilham Ikhsan 2015 55.00 12-Nov-15 13-Nov-15 17-Nov-15 09-Dec-15 I
3. Tjen Lestari 2016 70.00 30-Nov-16 01-Dec-16 05-Dec-16 22-Dec-16 I
2017 80.00 28-Nov-17 29-Nov-17 04-Dec-17 20-Dec-17 I
CORPORATE SECRETARY 2017 175.00 12-Apr-18 13-Apr-18 17-Apr-18 30-Apr-18 F
Jan Hendra
ISSUED HISTORY
HEAD OFFICE Listing Trading
BCA Tower 20th Floor, Grand Indonesia No. Type of Listing Shares Date Date
Jl. M.H. Thamrin No. 1 1. First Issue 662,400,000 31-May-00 31-May-00
Jakarta 10310 2. Company Listing 2,252,146,140 T: 31-May-00 : 11-Jan-01
Phone : (021) 2358-8000 3. Stock Split 21,199,350,480 T: 15-May-01 : 28-Jan-08
Fax : (021) 235-88300 4. Option Conversion 210,852,000 T: 29-Nov-01 : 09-Nov-06
Homepage : www.bca.co.id 5. Option Conversion MSOP 89,226,500 T: 04-Aug-03 : 29-Sep-04
Email : halobca@bca.co.id 6. Partial Delisting -5,516,000 04-Jan-08 04-Jan-08
humas@bca.co.id
investor_relations@bca.co.id


TRADING ACTIVITIES
Bank Central Asia Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
26,000 16,000 Jan-14 10,350 9,250 9,925 57,353 367,092 3,602,939 20
Feb-14 10,550 9,700 10,225 46,542 430,305 4,418,825 20
22,750 14,000 Mar-14 11,125 10,150 10,600 59,990 436,023 4,599,025 20
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
19,500 12,000
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
16,250 10,000
Aug-14 11,850 10,950 11,200 49,417 215,348 2,519,575 20
Sep-14 13,125 11,625 13,075 58,544 350,704 4,353,955 22
13,000 8,000
Oct-14 13,575 12,050 13,050 69,752 587,562 7,528,035 23
Nov-14 13,525 12,500 13,100 58,896 286,375 3,745,157 20
9,750 6,000 Dec-14 13,425 12,825 13,125 63,765 241,069 3,172,351 20
6,500 4,000 Jan-15 13,425 12,800 13,375 53,863 273,651 3,592,271 21

Feb-15 14,550 13,250 14,100 62,002 260,770 3,622,454 19
3,250 2,000 Mar-15 14,825 14,025 14,825 90,945 331,831 4,777,845 22
Apr-15 15,600 12,900 13,475 86,286 451,166 6,531,175 21
May-15 14,500 13,400 14,125 67,586 339,175 4,710,311 19
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
Aug-15 13,900 11,000 12,900 86,829 484,481 6,064,524 20
Sep-15 12,850 11,300 12,275 62,916 340,220 4,094,909 21
Finance Index Nov-15 13,750 12,375 12,375 70,680 466,909 6,129,554 21
January 2014 - July 2018 Dec-15 13,800 12,700 13,300 85,393 681,684 9,049,648 19
175%
Jan-16 13,550 12,750 13,100 84,389 565,286 7,404,232 20
150% Feb-16 13,575 12,875 13,475 111,412 533,233 7,075,078 20
137.5% Mar-16 13,925 13,050 13,300 87,449 561,182 7,541,426 21
125% Apr-16 13,450 12,775 13,050 75,089 374,867 4,906,411 21
May-16 13,300 12,875 13,000 69,705 402,089 5,250,016 20
100% Jun-16 13,450 12,625 13,325 75,748 422,148 5,505,430 22
91.5% Jul-16 14,675 13,200 14,450 77,416 628,474 8,850,322 16
Aug-16 15,500 14,375 15,050 77,154 634,101 9,559,456 22
75%
Sep-16 16,000 14,800 15,700 91,853 535,155 8,173,240 21
Oct-16 16,200 15,350 15,525 74,088 399,505 6,289,722 21
50%
Nov-16 15,650 13,950 14,300 83,694 12,183,909 185,159,678 22
37.2% Dec-16 15,550 14,125 15,500 72,759 551,439 8,145,086 20
25%
Jan-17 15,875 14,950 15,300 60,466 265,560 4,090,291 21

- Feb-17 15,700 15,000 15,450 49,112 291,641 4,526,374 19
Mar-17 17,000 15,350 16,550 69,915 505,739 8,118,270 22
-25% Apr-17 18,000 16,575 17,750 70,124 2,459,800 42,831,784 17
Jan 14 Jan 15 Jan 16 Jan 17 Jan 18 May-17 18,550 16,800 17,150 134,338 1,008,009 17,752,214 20
Jun-17 18,325 17,325 18,150 84,529 461,064 8,209,641 15
Jul-17 19,000 18,075 18,700 105,834 401,795 7,420,533 21
Frequency (Thou. X) 651 881 981 1,073 780 Nov-17 21,625 20,350 20,350 120,899 433,958 9,101,570 22
Days 242 244 246 238 138 Dec-17 22,750 20,650 21,900 88,224 323,853 6,872,305 18
Price (Rupiah) Jan-18 23,450 21,325 22,725 100,058 429,302 9,641,870 22

High 13,575 15,600 16,200 22,750 24,700 Feb-18 24,700 22,850 23,175 106,682 357,012 8,445,760 19
Low 9,250 11,000 12,625 14,950 20,600 Mar-18 23,800 22,525 23,300 107,419 420,658 9,764,952 21
Close 13,125 13,300 15,500 21,900 23,275 Apr-18 23,650 21,050 22,100 105,958 347,898 7,862,787 21
Close* 13,125 13,300 15,500 21,900 23,275 May-18 23,050 21,475 22,700 147,836 531,671 11,883,859 20
Jun-18 23,150 20,825 21,475 97,746 296,903 6,493,567 13
PER (X) 19.90 18.02 18.95 23.16 24.87 Jul-18 23,625 20,600 23,275 114,510 351,425 7,878,376 22
PER Industry (X) 27.72 25.09 20.71 19.10 24.96
PBV (X) 4.33 3.66 3.49 4.11 4.19


Public Accountant : Siddharta Widjaja & Partners (member of KPMG International)
Cash on Hand 19,577,571 17,849,460 15,943,854 16,754,289 21,697,410 800,000
Placements with Other Banks 11,502,178 56,259,099 35,363,890 18,969,682 34,240,525

26,289,663 515,099 2,547,098 9,258,767 16,597,244 640,000
Marketable Securities
Loans 339,859,068 378,616,292 403,391,221 454,264,956 481,320,286
480,000
Investment 71,528,070 51,153,115 108,709,161 131,091,163 186,132
Fixed Assets 8,844,930 9,712,021 16,990,835 16,868,949 16,811,900
320,000
Other Assets 7,133,595 8,619,292 258,733 11,982,478 9,204,043
Total Assets 552,423,892 594,372,770 676,738,753 750,319,671 791,729,673
160,000
Growth (%) 7.59% 13.86% 10.87% 5.52%
-
Deposits 451,660,016 478,173,935 535,399,322 587,352,554 621,500,263 2014 2015 2016 2017 Jun-18
Taxes Payable 251,818 251,091 163,682 147,398 -
Fund Borrowings 3,080,942 1,743,337 2,788,552 3,040,602 1,981,400
Other Liabilities 6,260,219 7,613,476 9,258,788 11,332,381 12,857,580 TOTAL EQUITY (Bill. Rp)
Total Liabilities 472,550,777 501,945,424 560,556,687 614,940,262 650,560,712 136,845
131,402
Growth (%) 6.22% 11.68% 9.70% 5.79% 136,845
112,715

108,929
Paid up Capital 1,540,938 1,540,938 1,540,938 1,540,938 1,540,938 77,921

81,012
Par Value 63 63 63 63 63 53,096
Retained Earnings 70,332,010 81,995,065 98,503,180 115,998,322 1,229,084,280

Total Equity 77,920,617 89,624,940 112,715,059 131,401,694 136,845,006 25,179
Growth (%) 15.02% 25.76% 16.58% 4.14%

-2,737
2014 2015 2016 2017 Jun-18

INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Jun-18
Total Interest Income 43,771,256 55,441,647 50,425,826 53,767,939 27,087,039
Growth (%) 26.66% -9.05% 6.63%
TOTAL INTEREST INCOME (Bill. Rp)
Interest Expenses 11,744,562 11,217,072 10,346,736 11,941,465 5,334,405 55,442 53,768

50,426
Other Operating Revenue 1,738,943 3,651,597 1,953,656 2,965,830 1,394,994
55,442
43,771
Other Operating Expenses 18,306,319 25,219,058 23,378,946 25,190,321 14,347,721 44,132
Income from Operations 20,504,773 22,657,114 25,839,200 29,158,743 14,327,767

Growth (%) 10.50% 14.04% 12.85% 32,821
27,087
Non-Operating Revenues 236,348 - - - - 21,511
Income Before Tax 20,741,121 22,657,114 25,839,200 29,158,743 14,327,767

Provision for Income Tax 4,229,451 4,621,346 5,206,919 5,837,893 2,906,077
10,201
Profit for the period 16,511,670 18,035,768 20,632,281 23,321,150 11,421,690 -1,109
Growth (%) 9.23% 14.40% 13.03% 2014 2015 2016 2017 Jun-18
Period Attributable 16,485,858 18,018,653 20,605,736 23,309,994 11,420,955

Comprehensive Income 16,925,171 17,691,505 27,404,745 24,075,741 9,757,938
Comprehensive Attributable 16,899,359 17,673,517 27,378,282 24,063,606 9,758,437 PROFIT FOR THE PERIOD (Bill. Rp)
23,321
RATIOS Dec-14 Dec-15 Dec-16 Dec-17 Jun-18 20,632
Dividend (Rp) 198.00 55.00 70.00 255.00 - 18,036
16,512
EPS (Rp) 668.66 730.83 835.76 945.45 463.23
18,564
BV (Rp) 3,160.44 3,635.16 4,571.69 5,329.61 5,550.39

11,422
13,806
DAR (X) 0.86 0.84 0.83 0.82 0.82

DER(X) 6.06 5.60 4.97 4.68 4.75 9,049
ROA (%) 2.99 3.03 3.05 3.11 1.44

ROE (%) 21.19 20.12 18.30 17.75 8.35
4,291
OPM (%) 46.85 40.87 51.24 54.23 52.90

37.72 32.53 40.92 43.37 42.17
-466
NPM (%) 2014 2015 2016 2017 Jun-18

Payout Ratio (%) 29.61 7.53 8.38 26.97 -
Yield (%) 1.51 0.41 0.45 1.16 -

COMPANY REPORT
BBNI
BANK NEGARA INDONESIA
(PERSERO) TBK.
Company Profile
PT Bank Negara Indonesia (Persero) Tbk. was originally established on July 5th, 1946, PT Bank Negara
Indonesia (Persero) Tbk. or BNI was the first state-owned bank that was established after the independence
of Republic of Indonesia. Subsequently, the company became “Bank Negara Indonesia 1946” and changed
its status to a state-owned commercial bank.
The company’s scope of activity is to engage in general banking services. The company's major products and
services include credit cards, saving accounts, current accounts and fixed deposits, as well as various types
of loans, such as housing loans and other consumer loans.
As of December 31st, 2017, BNI has 200 domestic branches, 1,085 sub-branches and 848 other outlets. In
addition, BNI’s network also includes 5 overseas branches located in Singapore, Hong Kong, Tokyo, London
and Seoul and 1 agency in New York.
The company has direct ownership in the following subsidiaries: PT BNI Life Insurance, PT BNI Multifinance,
PT BNI Sekuritas 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.
Awards: Excellence in Enterprise Innovation, Gold Winner Corporate Branding Kategori Corporate
Communication, Best Community Involvement and Development, The Best Banking Technology Pioneer In
Indonesia, Best Talent Management, The Best Performance in ATM Bersama Awards 2017, Most Trusted
Company Based on Corporate Governance Perception index (CGPI), Best State Owned Enterprise (SOE) etc.
The Company’s head office is domiciled in Jakarta and located at Jl. Jenderal Sudirman Kav.1, Jakarta. As of
June 30th, 2018, BNI had 25,558 permanent employees and 2,232 non-permanent employees, total 27,790
employees.
August 2018
Disclaimer:

BBNI Bank Negara Indonesia (Persero) Tbk.

9 | 136.6T | 2.04% | 44.21%
7 | 46.9T | 2.35% | 29.41%

Established Date : 05-Jul-1946 1. Republic of Indonesia 11,189,193,875 : 60.61%
Underwriter 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
2002 6.30 23-Oct-03 24-Oct-03 28-Oct-03 05-Nov-03 F
BOARD OF COMMISSIONERS 2003 23.71 01-Jul-04 02-Jul-04 07-Jul-04 21-Jul-04 F
1. Ari Kuncoro *) 2004 118.07 23-Jun-05 24-Jun-05 28-Jun-05 07-Jul-05 F
2. Ahmad Fikri Assegaf *) 2005 53.26 15-Jun-06 16-Jun-06 20-Jun-06 04-Jul-06 F
3. Bistok Simbolon 2006 72.50 19-Jun-07 20-Jun-07 22-Jun-07 02-Jul-07 F
4. Joni Swastanto 2007 29.40 17-Jun-08 18-Jun-08 20-Jun-08 04-Jul-08 F
5. Marwanto Harjowiryono 2008 8.00 18-Jun-09 19-Jun-09 23-Jun-09 07-Jul-09 F
6. Pataniari Siahaan *) 2009 9.44 25-Nov-09 26-Nov-09 01-Dec-09 11-Dec-09 I
7. Revrisond Baswir *) 2009 47.48 08-Jun-10 09-Jun-10 11-Jun-10 25-Jun-10 F
8. Sigit Widyawan *) 2010 65.98 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
9. Wahyu Kuncoro 2011 62.48 10-May-12 11-May-12 15-May-12 30-May-12 F
*) Independent Commissioners 2012 113.35 26-Apr-13 29-Apr-13 01-May-13 16-May-13 F
2013 145.71 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
BOARD OF DIRECTORS 2014 144.55 24-Mar-15 25-Mar-15 27-Mar-15 17-Apr-15 I
1. Achmad Baiquni 2015 122.53 17-Mar-16 18-Mar-16 22-Mar-16 13-Apr-16 F
2. Adi Sulistyowati 2016 212.81 23-Mar-17 24-Mar-17 29-Mar-17 19-Apr-17 F
3. Anggoro Eko Cahyo 2017 255.56 27-Mar-18 28-Mar-18 02-Apr-18 20-Apr-18 F
4. Bob Tyasika Ananta
5. Catur Budi Harto ISSUED HISTORY
6. Dadang Setiabudi Listing Trading
7. Endang Hidayatullah No. Type of Listing Shares Date Date
8. Herry Sidharta 1. Negara RI (Series A) 1 25-Nov-96 -
9. Putrama Wahju Setiawan 2. First Issue 1,085,032,000 25-Nov-96 25-Nov-96
10. Rico Rizal Budidarmo 3. Company Listing 3,255,095,999 25-Nov-96 28-Jun-97
11. Tambok P.S. Simanjuntak 4. Partial Delisting -43,401,280 02-Jul-99 02-Jul-99
5. Right Issue 151,904,480,000 05-Jul-99 05-Jul-99
AUDIT COMMITTEE 6. Additional Listing 41,375,391,255 20-Apr-01 20-Apr-01
1. Pataniari Siahaan 7. Partial Delisting -343,540,085 12-Dec-01 12-Dec-01
2. Ahmad Fikri Assegaf 8. Reverse Stock Split -184,084,187,364 23-Dec-03 23-Dec-03
3. Donnaria Silalahi 9. Right Issue 1,974,563,625 13-Aug-07 13-Aug-07
4. Lungguk Gultom 10. Partial Delisting -2,233,046 31-Aug-07 31-Aug-07
11. Right Issue 3,340,968,788 29-Dec-10 29-Dec-10
CORPORATE SECRETARY
Kiryanto
HEAD OFFICE
BNI Building 24th Floor
Jl. Jend. Sudirman Kav. 1 Jakarta 10220
Phone : (021) 251-1946; 572-8387
Fax : (021) 572-8053
Homepage : www.bni.co.id
Email : BNI@46.co.id
investor.relations@bni.co.id


TRADING ACTIVITIES
Bank Negara Indonesia (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
12,000 160 Jan-14 4,420 3,660 4,360 55,797 479,251 1,966,311 20
Feb-14 4,770 4,125 4,550 68,732 712,946 3,157,847 20
10,500 140 Mar-14 5,325 4,450 4,960 79,616 765,650 3,726,665 20
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
9,000 120
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
7,500 100
Aug-14 5,525 4,995 5,350 57,420 522,073 2,731,897 20
Sep-14 5,975 5,350 5,525 50,664 574,054 3,261,277 22
6,000 80
Oct-14 5,950 4,975 5,950 61,498 722,117 4,009,779 23
Nov-14 6,100 5,550 6,025 41,672 418,868 2,435,083 20
4,500 60 Dec-14 6,300 5,700 6,100 43,951 450,256 2,718,387 20
3,000 40 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
1,500 20 Mar-15 7,225 6,550 7,225 80,139 703,023 4,829,845 22
Apr-15 7,275 6,250 6,425 64,819 618,174 4,250,511 21
May-15 7,125 6,325 6,875 58,043 425,307 2,869,575 19
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
Aug-15 5,250 4,070 4,950 154,228 889,236 4,151,806 20
Sep-15 4,890 3,800 4,135 140,264 796,672 3,494,776 21
January 2014 - July 2018 Dec-15 5,150 4,780 4,990 75,750 522,777 2,595,771 19
175%
Jan-16 5,200 4,850 4,910 75,208 565,592 2,816,764 20
150% Feb-16 5,675 4,835 5,075 97,903 945,582 4,897,086 20
Mar-16 5,450 4,965 5,200 72,880 634,035 3,326,553 21
125% Apr-16 5,300 4,570 4,585 101,018 978,561 4,822,933 21
May-16 4,800 4,270 4,800 100,177 763,572 3,468,064 20
100% Jun-16 5,275 4,600 5,200 78,752 714,117 3,480,763 22
91.5% Jul-16 5,700 5,100 5,350 72,297 605,068 3,246,926 16
87.3%
Aug-16 5,975 5,400 5,875 82,341 715,930 4,088,051 22
75%
Sep-16 5,875 5,300 5,550 71,626 656,284 3,652,224 21
Oct-16 5,625 5,150 5,575 67,003 573,349 3,099,193 21
50%
Nov-16 5,725 4,810 5,175 81,983 665,387 3,519,725 22
37.2% Dec-16 5,650 5,200 5,525 50,052 323,755 1,747,808 20
25%
Jan-17 5,800 5,400 5,700 51,030 407,642 2,279,205 21

- Feb-17 6,375 5,675 6,250 64,800 655,534 4,027,677 19
Mar-17 6,950 6,150 6,475 79,994 870,115 5,664,000 22
-25% Apr-17 6,700 6,075 6,375 55,959 704,986 4,480,590 17
Jun-17 6,775 6,350 6,600 47,081 350,064 2,280,943 15
Jul-17 7,450 6,550 7,450 75,575 422,729 2,924,154 21
Frequency (Thou. X) 696 1,105 951 748 633 Nov-17 8,400 7,650 8,100 64,285 398,066 3,184,138 22
Days 242 244 246 238 138 Dec-17 10,000 8,200 9,900 67,076 554,251 5,203,963 18
Price (Rupiah) Jan-18 10,000 9,125 9,400 90,844 674,119 6,367,224 22

High 6,300 7,275 5,975 10,000 10,175 Feb-18 10,175 8,925 9,725 85,827 388,181 3,720,247 19
Low 3,660 3,800 4,270 5,400 6,750 Mar-18 9,875 8,425 8,675 80,265 479,269 4,416,949 21
Close 6,100 4,990 5,525 9,900 7,400 Apr-18 9,000 7,900 8,050 77,389 431,716 3,659,763 21
Close* 6,100 4,990 5,525 9,900 7,400 May-18 8,800 7,125 8,475 116,055 640,840 5,079,537 20
Jun-18 8,550 6,800 7,050 81,632 397,514 3,036,571 13
PER (X) 10.55 10.16 10.01 13.56 9.19 Jul-18 7,600 6,750 7,400 100,965 576,525 4,187,808 22
PER Industry (X) 27.72 25.09 20.71 19.10 24.96
PBV (X) 1.86 1.19 1.19 1.83 1.38


Cash on Hand 11,435,686 12,890,427 11,167,643 11,577,664 14,421,597 737,500

12,738,296 9,927,494 23,764,750 36,729,021 32,175,611 590,000
Loans 270,651,986 314,066,531 376,594,527 441,313,566 443,438,235
442,500
Investment 37,434 35,793 57,169 713,423 712,608
Fixed Assets 6,222,050 20,756,594 21,972,223 22,804,689 22,667,737
295,000
Other Assets 3,369,915 4,482,111 6,793,167 10,380,886 10,481,186
Total Assets 416,573,708 508,595,288 603,031,880 709,330,084 734,189,082
147,500
Growth (%) 22.09% 18.57% 17.63% 3.50%
-
Deposits 302,666,680 358,184,938 425,188,266 504,430,731 509,504,020 2014 2015 2016 2017 Jun-18
Taxes Payable 317,563 749,396 150,770 80,425 628,931
Fund Borrowings 11,212,265 22,523,581 32,695,422 44,722,165 51,978,459
Total Liabilities 341,148,654 412,727,677 492,701,125 584,086,818 608,196,144 100,903 100,356
Growth (%) 20.98% 19.38% 18.55% 4.13% 89,254
78,438
Authorized Capital 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000
80,319
61,021
Paid up Capital 9,054,807 9,054,807 9,054,807 9,054,807 9,054,807
59,735
Par Value 7,500 & 7,500 & 375 7500 & 7500 & 375 7500 & 7500 & 375 7500 & 7500 & 375 7500 & 7500 & 375
39,150

Total Equity 61,021,308 78,438,222 89,254,000 100,903,304 100,355,520 18,566
Growth (%) 28.54% 13.79% 13.05% -0.54%

-2,018
2014 2015 2016 2017 Jun-18

Growth (%) 10.58% 18.63% 10.07%
Interest Expenses 10,988,641 11,334,885 13,773,377 16,240,086 8,706,171 48,178

43,768
48,178

33,365
38,350

-14.49% 24.69% 21.04% 26,151
Growth (%) 28,521
Non-Operating Revenues 178,019 54,067 73,573 -57,276 -44,984 18,693

8,865
Profit for the period 10,829,379 9,140,532 11,410,196 13,770,592 7,449,143 -964
Growth (%) -15.60% 24.83% 20.69% 2014 2015 2016 2017 Jun-18

13,771
RATIOS Dec-14 Dec-15 Dec-16 Dec-17 Jun-18
13,771
11,410
Dividend (Rp) 144.55 122.53 212.81 255.56 - 10,829
EPS (Rp) 578.20 486.18 608.02 730.16 398.78 9,141

10,961
BV (Rp) 3,272.16 4,206.11 4,786.08 5,410.75 5,381.38 8,152

7,449
DAR (X) 0.82 0.81 0.82 0.82 0.83

DER(X) 5.59 5.26 5.52 5.79 6.06 5,343
ROA (%) 2.60 1.80 1.89 1.94 1.01

ROE (%) 17.75 11.65 12.78 13.65 7.42
2,534
OPM (%) 40.00 30.93 32.51 35.75 35.79

32.46 24.77 26.07 28.58 28.48
-275
NPM (%) 2014 2015 2016 2017 Jun-18

Payout Ratio (%) 25.00 25.20 35.00 35.00 -
Yield (%) 2.37 2.46 3.85 2.58 -

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 establishment, the company consistently focuses on micro, small and medium enterprises, and
became the pioneer of microfinance in Indonesia. The company offers a whole range of banking products
and services, which include saving products, loan products (particularly micro credit, small commercial
loans and consumer credit), e-banking, international business services and islamic (sharia) banking.
In 2017 the company received awards: Indonesia Prestise Brand Award, Bisnis Indonesia Award 2017,
Indonesia Digital Innovation Award 2017, Indonesia Best Public Companies, Asean Public Companies
2017 : Wealth Creator 2017, Top Bank 2017, The Best Microfinance Product, The World Biggest
Companies 2017, etc.
BRI Subsidiaries: PT Bank BRI Syariah, PT Bank Rakyat Indonesia Agroniaga Tbk., BRI Remittance Co. Ltd.
Hong Kong, PT Asuransi BRI Life, and PT BRI Multifinance Indonesia, PT Bahana Artha Ventura.
The Company’s head office is domiciled in Jakarta and located at BRI 1 Building, Jl. Jenderal Sudirman,
Kav. 44-46, Jakarta 10210. As June 30th, 2018, the Group had 60.684 permanent employees.
August 2018
Disclaimer:

BBRI Bank Rakyat Indonesia (Persero) Tbk.

3 | 374.9T | 5.60% | 20.77%
2 | 108.0T | 5.41% | 11.75%

Established Date : 16-Dec-1895 1. Republic of Indonesia 70,000,000,000 : 57.32%
Underwriter IPO :
PT Bahana Securities (affiliated) DIVIDEND ANNOUNCEMENT
F/I
2003 84.19 06-Jul-04 07-Jul-04 09-Jul-04 23-Jul-04 F
1. Andrianof A. Chaniago *) 2005 156.18 21-Jun-06 22-Jun-06 26-Jun-06 10-Jul-06 F
2. A. Fuad Rahmany *) 2006 173.04 13-Jun-07 14-Jun-07 18-Jun-07 02-Jul-07 F
3. A. Sonny Keraf *) 2007 196.34 18-Jun-08 19-Jun-08 23-Jun-08 07-Jul-08 F
4. Gatot Trihargo 2008 168.82 16-Jun-09 17-Jun-09 19-Jun-09 03-Jul-09 F
5. Hadiyanto 2009 132.08 28-Jun-10 29-Jun-10 01-Jul-10 15-Jul-10 F
6. Jeffry J. Wurangian 2010 45.93 17-Dec-10 20-Dec-10 22-Dec-10 30-Dec-10 I
7. Mahmud *) 2010 70.04 27-May-11 30-May-11 01-Jun-11 15-Jun-11 F
8. Nicolaus Teguh Budi Harjanto 2011 122.28 26-Apr-12 27-Apr-12 01-May-12 15-May-12 F
9. Rofikoh Rokhim *) 2012 225.23 26-Mar-13 27-Mar-13 01-Apr-13 15-Apr-13 F
*) Independent Commissioners 2013 257.33 28-Apr-14 29-Apr-14 02-May-14 14-May-14 F
2014 294.80 26-Mar-15 27-Mar-15 31-Mar-15 22-Apr-15 I
BOARD OF DIRECTORS 2015 311.66 31-Mar-16 01-Apr-16 05-Apr-16 22-Apr-16 F
1. Suprajarto 2016 428.61 22-Mar-17 23-Mar-17 27-Mar-17 13-Apr-17 F
2. Achmad Solichin Lutfiyanto 2017 106.75 29-Mar-18 02-Apr-18 04-Apr-18 25-Apr-18 F
3. Handayani
4. Haru Koesmahargyo ISSUED HISTORY
5. Indra Utoyo Listing Trading
6. Kuswiyoto No. Type of Listing Shares Date Date
7. Mohammad Irfan 1. First Issue 4,764,705,000 10-Nov-03 10-Nov-03
8. Osbal Saragi Rumahorbo 2. Company Listing 6,882,352,950 T: 10-Nov-03 : 31-May-04
9. Priyastomo 3. MSOP Conversion 114,572,000 T: 24-Nov-04 : 11-Nov-05
10. R. Sophia Alizsa 4. MSOP Conversion I & II 333,814,000 T: 16-Nov-05 : 11-Nov-08
11. Sis Apik Wijayanto 5. MSOP Conversion II 8,928,500 T: 25-Sep-06 : 12-Nov-09
12. Supari 6. MSOP Conversion I, II & III 59,421,500 T: 23-Nov-06 : 27-Dec-07
7. MSOP Conversion II & III 36,021,500 T: 24-Nov-06 : 26-Jun-09
AUDIT COMMITTEE 8. MSOP Conversion I 789,000 T: 09-Jan-07 : 13-Nov-08
1. A. Fuad Rahmany 9. MSOP Conversion III 13,836,000 T: 25-Jun-07 : 15-Nov-10
2. A. Sonny Keraf 10. MSOP Conversion I & III 2,493,500 T: 21-Nov-07 : 08-Aug-08
3. I Gde Yadnya Kusuma 11. Delisting of Shares Republic of Indonesia -5,698,760 07-Jan-11 07-Jan-11
4. Pamuji Gesang Raharjo 12. Stock Split 109,901,116,710 T: 11-Jan-11 : 10-Nov-17
5. Rofikoh Rohim
6. Sunuaji Noor Widiyanto
CORPORATE SECRETARY
Bambang Tribaroto
HEAD OFFICE
BRI I Building
Jl. Jend. Sudirman No. 44-46
Jakarta
Phone : (021) 251-0244; 251-0254
Fax : (021) 250-0065; 250-0077
Homepage : www.bri.co.id
Email : corsec@bri.co.id
humas@bri.co.id


TRADING ACTIVITIES
Bank Rakyat Indonesia (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,000 640 Jan-14 8,850 7,000 8,325 87,119 934,659 7,534,215 20
Feb-14 9,850 8,125 9,275 87,543 1,015,064 9,180,632 20
3,500 560 Mar-14 10,500 9,025 9,575 111,431 903,601 8,566,209 20
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
3,000 480
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
2,500 400
Aug-14 11,375 10,600 11,050 96,070 733,194 8,022,874 20
Sep-14 11,175 10,150 10,425 91,480 785,001 8,367,361 22
2,000 320
Oct-14 11,075 10,000 11,075 112,523 852,028 8,958,410 23
Nov-14 11,550 10,600 11,525 65,560 424,706 4,720,140 20
1,500 240 Dec-14 11,725 11,000 11,650 82,491 540,205 6,200,187 20
1,000 160 Jan-15 12,100 11,325 11,675 84,255 607,503 7,101,489 21

Feb-15 13,050 11,600 12,875 82,946 748,654 9,092,542 19
500 80 Mar-15 13,275 12,600 13,275 82,495 552,663 7,172,234 22
Apr-15 13,450 11,250 11,625 96,485 727,168 9,138,329 21
May-15 12,750 11,400 11,775 107,891 702,965 8,433,290 19
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
Aug-15 10,875 9,025 10,625 120,620 746,258 7,528,574 20
Sep-15 10,550 7,975 8,650 132,204 851,245 7,855,562 21
January 2014 - July 2018 Dec-15 11,600 10,425 11,425 83,179 511,242 5,704,482 19
175%
Jan-16 11,825 10,750 11,225 88,556 492,583 5,607,189 20
150% Feb-16 12,300 10,425 11,075 144,650 842,610 9,542,491 20
Mar-16 11,500 10,650 11,425 116,596 632,000 7,028,852 21
125% Apr-16 11,300 9,800 10,350 139,975 794,637 8,338,493 21
May-16 10,675 9,525 10,350 95,493 659,498 6,609,965 20
110.3%
100% Jun-16 10,925 9,900 10,800 106,482 555,605 5,766,411 22
91.5% Jul-16 12,000 10,700 11,525 93,983 582,709 6,688,896 16
Aug-16 12,250 11,475 11,650 95,596 770,202 9,125,597 22
75%
Sep-16 12,250 11,500 12,200 81,038 618,988 7,381,044 21
Oct-16 12,400 11,825 12,200 67,715 486,156 5,907,484 21
50%
Nov-16 12,975 10,425 10,900 129,690 771,060 8,911,079 22
37.2% Dec-16 11,875 10,775 11,675 88,419 473,130 5,347,045 20
25%
Jan-17 12,325 11,575 11,725 69,316 378,351 4,502,567 21

- Feb-17 12,125 11,650 11,950 66,503 451,400 5,399,953 19
Mar-17 13,250 11,850 12,975 95,193 566,300 7,121,221 22
-25% Apr-17 13,250 12,425 12,900 56,073 337,783 4,391,392 17
Jun-17 15,300 14,200 15,250 65,330 297,532 4,383,996 15
Jul-17 15,500 14,300 14,775 93,829 572,160 8,521,971 21
Frequency (Thou. X) 1,071 1,264 1,248 1,032 1,314 Nov-17 16,825 3,120 3,210 147,696 2,027,678 9,353,670 22
Days 242 244 246 238 138 Dec-17 3,720 3,260 3,640 122,225 1,871,880 6,433,985 18
Price (Rupiah) Jan-18 3,920 3,460 3,700 196,546 3,171,136 11,632,918 22

High 12,200 13,450 12,975 16,825 3,920 Feb-18 3,910 3,650 3,780 135,916 2,579,080 9,691,955 19
Low 7,000 7,975 9,525 3,120 2,720 Mar-18 3,820 3,450 3,600 178,973 2,788,121 10,274,909 21
Close 11,650 11,425 11,675 3,640 3,070 Apr-18 3,670 3,120 3,220 168,834 2,624,538 9,065,032 21
Close* 2,330 2,285 2,335 3,640 3,070 May-18 3,300 2,720 3,080 285,121 5,340,985 16,128,141 20
Jun-18 3,270 2,740 2,840 162,760 2,764,882 8,251,005 13
PER (X) 11.86 10.99 11.40 15.48 12.59 Jul-18 3,110 2,770 3,070 185,840 2,428,523 7,164,319 22
PER Industry (X) 27.72 25.09 20.71 19.10 24.96
PBV (X) 2.94 2.49 2.04 2.68 2.27


Cash on Hand 22,469,167 28,771,635 25,212,024 24,797,782 28,954,347 1,162,500

84,168,460 124,873,547 133,039,936 204,929,704 169,312,940 930,000
Loans 479,211,143 547,318,355 621,286,679 689,559,288 737,837,921
697,500
Investment 251,573 269,130 2,439 73,821 78,040
Fixed Assets 5,917,470 8,039,280 24,515,059 24,746,306 25,730,564
465,000
Other Assets 8,792,889 13,514,846 14,490,711 25,230,455 28,216,036
Total Assets 801,955,021 878,426,312 1,003,644,426 1,126,248,442 1,153,228,286
232,500
Growth (%) 9.54% 14.25% 12.22% 2.40%
-
Deposits 630,977,238 282,157,299 756,755,912 847,249,817 846,200,528 2014 2015 2016 2017 Jun-18
Taxes Payable 59,805 1,497,262 942,401 564,798 839,900
Fund Borrowings 24,986,862 35,480,358 35,008,781 29,403,009 34,878,883
Growth (%) 8.67% 11.96% 11.91% 2.88% 167,347
146,813

133,209
Paid up Capital 6,167,291 6,167,291 6,167,291 6,167,291 6,167,291 97,737

99,070
Par Value 250 250 250 50 250 64,931

Total Equity 97,737,429 113,127,179 146,812,590 167,347,494 166,679,645 30,792
Growth (%) 15.75% 29.78% 13.99% -0.40%

-3,347
2014 2015 2016 2017 Jun-18

Growth (%) 13.73% 10.02% 9.47%

93,995
102,899
85,434
Other Operating Expenses 26,660,314 31,275,696 34,940,605 38,441,648 19,759,696 81,908 75,122
Growth (%) 7.58% 11.31% 8.37% 60,916 53,644
Non-Operating Revenues 2,497,196 1,981,111 9,228 216,323 16,971 39,925

18,933
Growth (%) 4.77% 3.22% 10.74% 2014 2015 2016 2017 Jun-18

29,044
29,044
25,411 26,228
24,254
Dividend (Rp) 294.80 311.66 428.61 106.75 -
EPS (Rp) 982.67 1,029.53 1,061.88 235.08 603.43
23,119
BV (Rp) 3,961.93 4,585.77 5,951.26 1,356.73 6,756.60 17,194

14,934
DAR (X) 0.88 0.87 0.85 0.85 0.86
DER(X) 7.21 6.76 5.84 5.73 5.92 11,269
ROA (%) 3.02 2.89 2.61 2.58 1.29

ROE (%) 24.82 22.46 17.86 17.36 8.96
5,344
OPM (%) 37.75 35.72 36.13 35.77 34.42

32.29 29.74 27.90 28.23 27.84
-581
NPM (%) 2014 2015 2016 2017 Jun-18

Payout Ratio (%) 30.00 30.27 40.36 45.41 -
Yield (%) 2.53 2.73 3.67 2.93 -

COMPANY REPORT
BBTN
BANK TABUNGAN NEGARA
(PERSERO) TBK.
Company Profile
PT Bank Tabungan Negara (Persero) Tbk (“the Bank”) was originally established as a state-owned bank
under the name “Bank Tabungan Pos” based on Martial Law No. 9 of 1950 dated February 9, 1950.
Subsequently, the name of the Bank was changed to “Bank Tabungan Negara” based on Government
Regulation Amendment of Law No. 4 of 1963. The Bank started operating as a state-owned commercial
bank on April 29, 1989.
BTN has its business activities focused on Financing The Housing sector through Three main Products,
commercial banking, and Sharia-banking (Islamic banking).
The company provides a variety of products and services in the fields of housing, primarily through loans
(mortgages), both subsidized mortgages for the middle class to lower segments of Indonesia's society and
non-subsidized mortgages for the middle class to upper class segments.
As of March 31st, 2018, the Bank has 99 branch offices (including 24 sharia branch offices), 322 sub-branch
offices (including 42 sharia sub-branch offices), 492 cash offices (including 7 sharia cash offices), and 2,996
SOPPs (System on-line Payment Point/on-line Post office) (unaudited).
The Company’s head office is domiciled in Jakarta and located at Bank BTN Tower, Jl. Gajah Mada No. 1,
Jakarta 10130. The Bank has permanent employees as of June 30th, 2018 of 9,148 employees.
August 2018
Disclaimer:

BBTN Bank Tabungan Negara (Persero) Tbk.

47 | 24.7T | 0.37% | 71.73%
24 | 20.6T | 1.03% | 54.93%

Established Date : 30-Nov-1934 1. Republic of Indonesia 6,354,000,000 : 60.61%
Listing Date : 17-Dec-2009 2. Public (<5%) 4,130,100,000 : 39.39%
Underwriter IPO :
PT Mandiri Sekuritas (affiliated) 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
2010 31.19 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
BOARD OF COMMISSIONERS 2011 25.31 10-May-12 11-May-12 15-May-12 30-May-12 F
1. I Wayan Agus Mertayasa *) 2012 38.74 26-Apr-13 29-Apr-13 01-May-13 10-May-13 F
2. Arie Coerniadi *) 2013 44.36 18-Mar-14 19-Mar-14 21-Mar-14 07-Apr-14 F
3. Garuda Wiko *) 2014 21.11 31-Mar-15 01-Apr-15 06-Apr-15 24-Apr-15 I
4. Iman Sugema 2015 34.96 19-Apr-16 20-Apr-16 22-Apr-16 12-May-16 F
5. Kamaruddin Sjam *) 2016 49.46 24-Mar-17 27-Mar-17 30-Mar-17 13-Mar-17 F
6. Lucky Fathul Aziz Hadibrata *) 2017 57.18 02-Apr-18 03-Apr-18 05-Apr-18 24-Apr-18 F
7. Maurin Sitorus
8. Parman Nataatmadja ISSUED HISTORY
9. Sumiyati Listing Trading
*) Independent Commissioners No. Type of Listing Shares Date Date
1. First Issue 2,360,057,000 17-Dec-09 17-Dec-09
BOARD OF DIRECTORS 2. Company Listing 6,263,228,575 17-Dec-09 17-Dec-09
1. Maryono 3. MESOP Conversion I 124,368,000 T: 08-Feb-11 : 13-Aug-14
2. Andi Nirwoto 4. MESOP Conversion I & II 5,670,000 T: 06-Feb-12 : 14-Aug-14
3. Budi Satria 5. Right Issue 1,497,728,925 07-Dec-12 07-Dec-12
4. Dasuki Amsir 6. MESOP Conversion I, II & III 208,387,000 T: 07-Feb-13 : 17-Jul-13
5. Iman Nugroho Soeko 7. MESOP Conversion II & III 444,300 T: 14-Mar-14 : 14-Aug-15
6. Nixon L.P. Napitupulu 8. MESOP Conversion III 7,759,500 T: 19-Mar-14 : 17-Mar-16
7. Oni Febriarto R. 9. MESOP Conversion II 36,000 T: 22-Jul-14 : 18-Mar-15
8. R. Mahelan Prabantarikso 10. MESOP Conversion I & III 2,081,000 20-Aug-14 20-Aug-14
9. Yossi Istanto
AUDIT COMMITTEE
1. Kamaruddin Sjam
2. Adi Prakoso
3. Garuda Wiko
4. I Wayan Agus Mertayasa
5. Lucky Fathul Aziz Hadibrata
6. Rachmat Supratman
7. Sondang Gayatri
CORPORATE SECRETARY
Agus Susanto
HEAD OFFICE
Bank BTN Tower 20th Floor
Jl. Gajah Mada No. 1
Jakarta 10130
Phone : (021) 633-6789; 633-2666
Fax : (021) 634-6704
Homepage : www.btn.co.id
Email : csd@btn.co.id
agus.susanto@btn.co.id


TRADING ACTIVITIES
Bank Tabungan Negara (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,000 400 Jan-14 970 835 900 18,385 275,674 252,515 20
Feb-14 1,145 890 1,080 37,825 1,429,330 1,502,277 20
3,500 350 Mar-14 1,355 1,015 1,285 39,910 1,270,021 1,539,871 20
Apr-14 1,525 1,140 1,155 55,199 1,598,310 2,048,453 20
May-14 1,175 1,070 1,090 36,625 903,411 1,011,693 18
3,000 300
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
2,500 250
Aug-14 1,215 1,045 1,115 42,735 1,333,365 1,517,629 20
Sep-14 1,180 1,070 1,170 32,063 968,580 1,090,634 22
2,000 200
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
1,500 150 Dec-14 1,240 1,120 1,205 21,919 566,006 662,843 20
1,000 100 Jan-15 1,230 980 995 44,134 1,247,054 1,302,876 21

Feb-15 1,095 990 1,070 47,590 1,549,165 1,615,293 19
500 50 Mar-15 1,270 1,060 1,255 40,326 1,207,915 1,392,206 22
Apr-15 1,250 1,080 1,115 28,932 701,031 823,389 21
May-15 1,245 1,080 1,205 25,132 547,298 639,653 19
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
Aug-15 1,255 935 1,065 32,369 543,842 582,291 20
Sep-15 1,090 970 995 29,159 357,423 367,986 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-15 1,230 995 1,185 48,255 593,101 667,140 21
Finance Index Nov-15 1,290 1,085 1,270 28,942 365,566 441,398 21
January 2014 - July 2018 Dec-15 1,315 1,250 1,295 20,431 189,362 245,098 19
350%
Jan-16 1,420 1,280 1,365 30,750 476,062 645,114 20
300% Feb-16 1,690 1,350 1,660 58,858 1,005,608 1,526,817 20
Mar-16 1,865 1,600 1,745 43,540 462,332 796,834 21
250% Apr-16 1,780 1,625 1,760 42,592 485,258 833,245 21
May-16 1,885 1,590 1,705 37,300 386,739 673,510 20
200% Jun-16 1,745 1,560 1,715 43,493 421,059 713,599 22
Jul-16 2,030 1,690 1,975 38,886 398,887 740,507 16
162.2% Aug-16 2,100 1,835 2,010 65,565 695,281 1,354,777 22
150%
Sep-16 2,030 1,890 1,920 40,068 394,806 778,370 21
Oct-16 1,995 1,900 1,910 37,806 252,701 488,464 21
100%
91.5% Nov-16 1,940 1,590 1,650 50,838 420,252 724,716 22
Dec-16 1,835 1,610 1,740 42,299 309,590 533,513 20
50%
37.2%
Jan-17 1,930 1,695 1,905 42,012 348,275 647,126 21
- Feb-17 2,280 1,875 2,140 48,805 526,975 1,085,503 19
Mar-17 2,360 2,000 2,270 64,967 651,018 1,422,368 22
-50% Apr-17 2,390 2,140 2,300 26,433 261,541 604,232 17
Jun-17 2,710 2,400 2,600 22,693 203,060 526,229 15
Jul-17 2,650 2,320 2,600 52,642 415,879 1,033,000 21
Days 242 244 246 238 138 Dec-17 3,610 3,170 3,570 52,099 575,223 1,963,549 18
Price (Rupiah) Jan-18 3,700 3,370 3,660 63,078 391,275 1,400,251 22

High 1,525 1,315 2,100 3,610 3,890 Feb-18 3,850 3,560 3,740 47,563 334,788 1,240,585 19
Low 835 935 1,280 1,695 2,110 Mar-18 3,890 3,430 3,800 47,930 303,606 1,123,957 21
Close 1,205 1,295 1,740 3,570 2,360 Apr-18 3,770 3,020 3,110 54,314 348,716 1,209,955 21
Close* 1,205 1,295 1,740 3,570 2,360 May-18 3,250 2,630 3,050 89,528 704,538 2,060,568 20
Jun-18 3,120 2,370 2,450 65,753 460,902 1,304,539 13
PER (X) 12.64 7.33 8.52 12.49 8.69 Jul-18 2,560 2,110 2,360 136,215 1,254,283 2,931,468 22
PER Industry (X) 27.72 25.09 20.71 19.10 24.96
PBV (X) 1.08 0.99 1.02 1.75 1.12


Cash on Hand 920,482 1,181,219 1,006,682 1,027,554 1,087,864 275,000

5,436,970 1,807,561 4,171,700 7,706,031 9,965,298 220,000
Loans 114,345,618 136,905,226 162,330,347 196,634,594 208,900,926
165,000
Investment - - - - -
Fixed Assets 1,488,383 1,553,401 4,659,379 4,837,319 4,856,121
110,000
Other Assets 1,007,989 1,553,599 2,189,078 2,688,331 4,192,496
Total Assets 144,582,353 171,807,592 214,168,479 261,365,267 268,044,394
55,000
Growth (%) 18.83% 24.66% 22.04% 2.56%
-
Deposits 107,649,946 129,429,868 163,640,452 197,919,224 179,164,629 2014 2015 2016 2017 Jun-18
Taxes Payable 115,260 - - - -
Fund Borrowings 6,998,213 7,726,728 4,999,616 7,991,053 10,393,210
21,663
Growth (%) 19.36% 23.48% 22.90% -4.18% 22,379
19,131

17,814
13,860
Paid up Capital 5,283,848 5,291,173 5,295,000 5,295,000 5,295,000 12,253
13,248
Par Value 500 500 500 500 500 8,683

Total Equity 12,252,895 13,860,107 19,130,536 21,663,434 22,379,046 4,118
Growth (%) 13.12% 38.03% 13.24% 3.30%

-448
2014 2015 2016 2017 Jun-18

Growth (%) 16.86% 14.52% 12.44%
Other Operating Revenue 894,820 1,106,526 1,282,822 1,605,931 1,022,607 17,139

19,272
4,010,139 5,383,997 5,386,604 6,170,567 3,485,796 14,966

Other Operating Expenses
12,807
15,340

Growth (%) 60.62% 32.31% 16.10% 11,409
10,237
Non-Operating Revenues 1,960 8,281 -22,148 -30,348 9,401 7,477

Provision for Income Tax 433,755 690,979 711,179 834,089 389,942
3,546
Profit for the period 1,145,572 1,850,907 2,618,905 3,027,466 1,423,713 -385
Growth (%) 61.57% 41.49% 15.60% 2014 2015 2016 2017 Jun-18

3,027
3,027
Dividend (Rp) 21.11 34.96 49.46 57.18 -

EPS (Rp) 108.40 174.91 247.30 285.88 134.44
2,410
1,851
BV (Rp) 1,159.47 1,309.74 1,806.47 2,045.65 2,113.22
1,424
1,792
DAR (X) 0.92 0.92 0.91 0.92 0.86 1,146

DER(X) 10.80 11.40 10.20 11.06 10.26 1,175
ROA (%) 0.79 1.08 1.22 1.16 0.53

ROE (%) 9.35 13.35 13.69 13.98 6.36
557
OPM (%) 12.32 16.93 19.56 20.20 17.63

8.94 12.37 15.28 15.71 13.91
-61
NPM (%) 2014 2015 2016 2017 Jun-18

Payout Ratio (%) 19.48 19.99 20.00 20.00 -
Yield (%) 1.75 2.70 2.84 1.60 -

COMPANY REPORT
BJBR
BPD JAWA BARAT & BANTEN TBK.
Company Profile
PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk. which is known as Bank BJB, is a commercial
bank owned by The Provincial Government West Java, Provincial Government of Banten, all cities and
regencies government in West Java and Banten areas, and public. Bank BJB is Indonesia’s first Regional
Development Bank to have undertaken IPO, which was realized on July 8th, 2010.
Bank BJB is one of the local government-owned commercial banks in Indonesia which serves private
customers, employees, cooperatives, local enterprises, state enterprises, along with other institutions
both government and private.
Products of Bank BJB: Consumer Banking, Corporate and Commercial Banking, International Banking,
and Micro Banking. Bank BJB also support customer’s business to develop by providing products and
facilities of international banking transactions in order to support their export and import activities run
smoothly and comfortable.
In 2017, awards for BJB: Good Performance in Delivering Positive Customer Experience, Top BUMD
2017 (Best Over All) Program TOP BUMD 2017, The TOP 50 Companies for 2017, Indonesia Presidential
Award 2017, Top 5 Best Consumer Choice Regional, Top 10 GCG Issues in Banking Sector, etc.
BJB has direct ownership in the following subsidiaries: PT Bank Jabar Banten Syariah, PT BPR Intan
Jabar, dan PT BPR Karya Utama Jabar.
The Bank’s head office is located at Bank BJB Tower, Jalan Naripan No. 12-14, Bandung 40111. As of
December 31st, 2017, the Bank has 65 branch offices, 312 sub-branches, 342 cash offices and 162
payment points. As June 30th, 2018, the Group had 7.680 permanent employees.
August 2018
Disclaimer:
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.

BJBR BPD Jawa Barat dan Banten Tbk.

56 | 19.8T | 0.30% | 74.71%
46 | 11.1T | 0.55% | 71.36%

Established Date : 08-Apr-1999 1. Province of West Java 3,709,994,733 : 38.65%
Listing Date : 08-Jul-2010 2. Regency of Bandung 680,906,967 : 7.09%
Underwriter IPO : 3. Province of Bandung 520,589,856 : 5.42%
PT Bahana securities 4. Public (<5%) 4,687,836,698 : 48.84%
PT CIMB Securities Indonesia
PT Datindo Entrycom Bonus Cash Recording Payment
F/I
BOARD OF COMMISSIONERS 2010 59.67 19-Apr-11 20-Apr-11 25-Apr-11 09-May-11 F
1. Klemi Subiyantoro *) 2011 61.07 17-Apr-12 18-Apr-12 20-Apr-12 04-May-12 F
2. Muhadi 2012 68.46 16-Apr-13 17-Apr-13 19-Apr-13 03-May-13 F
3. Rudhyanto Mooduto *) 2013 78.10 16-Apr-14 17-Apr-14 22-Apr-14 07-May-14 F
4. Suwarta *) 2014 71.60 08-Apr-15 09-Apr-15 13-Apr-15 30-Apr-15 I
5. Yayat Sutaryat *) 2015 84.80 31-Mar-16 01-Apr-16 05-Apr-16 27-Apr-16 F
*) Independent Commissioners 2016 89.00 05-Apr-17 06-Apr-17 10-Apr-17 28-Apr-17 F
2017 90.30 07-Mar-18 08-Mar-18 12-Mar-18 26-Mar-18 F
BOARD OF DIRECTORS
1. Ahmad Irfan ISSUED HISTORY
2. Agus Gunawan Listing Trading
3. Agus Mulyana No. Type of Listing Shares Date Date
4. Fermiyanti 1. First Issue 2,424,072,500 08-Jul-10 08-Jul-10
5. Nia Kania 2. Company Listing 7,175,255,754 08-Jul-10 08-Jul-10
6. Suartini
AUDIT COMMITTEE
1. Suwarta
2. Erie Febrian
3. Mokhamad Anwar
4. Yayat Sutaryat
CORPORATE SECRETARY
Hakim Putratama
HEAD OFFICE
Arthaloka Building, 9th Floor
Jl. Jend. Sudirman Kav. 2
Jakarta 10221
Phone : (021) 251-1448; 722-9777
Fax : (021) 723-5212
Homepage : www.bankbjb.co.id
Email : ir@bankbjb.co.id


TRADING ACTIVITIES
BPD Jawa Barat dan Banten Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
3,600 1,600 Jan-14 920 815 915 15,895 225,665 195,228 20
Feb-14 1,100 900 1,015 16,934 240,821 234,834 20
3,150 1,400 Mar-14 1,070 945 1,045 21,409 432,148 441,586 20
Apr-14 1,175 960 965 34,883 618,838 673,023 20
May-14 970 845 865 26,554 400,814 362,925 18
2,700 1,200
Jun-14 870 820 825 14,476 219,103 187,211 21
Jul-14 895 825 830 22,348 461,285 402,865 18
2,250 1,000
Aug-14 870 810 870 22,678 570,291 481,912 20
Sep-14 870 790 795 17,259 184,150 151,952 22
1,800 800
Oct-14 805 720 755 23,135 217,701 164,077 23
Nov-14 815 720 800 11,020 118,022 91,468 20
1,350 600 Dec-14 810 730 730 15,528 249,660 192,311 20
900 400 Jan-15 840 730 825 20,417 462,504 369,508 21

Feb-15 990 815 980 19,889 452,300 406,971 19
450 200 Mar-15 1,010 930 1,000 21,326 245,959 240,546 22
Apr-15 1,025 840 875 33,961 593,324 568,184 21
May-15 910 845 890 21,633 336,676 296,141 19
Jun-15 1,000 815 820 28,190 193,528 168,713 21
Jul-15 875 790 805 18,456 105,606 87,322 19
Aug-15 815 565 695 23,609 232,877 159,229 20
Sep-15 740 590 615 14,066 74,560 51,218 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-15 805 585 755 30,887 541,088 385,535 21
Finance Index Nov-15 795 700 710 22,271 244,040 182,319 21
January 2014 - July 2018 Dec-15 780 705 755 14,891 162,732 123,557 19
315%
Jan-16 895 745 870 23,433 383,589 317,025 20
270% Feb-16 975 860 920 26,728 359,668 330,129 20
Mar-16 995 900 965 33,760 329,699 312,138 21
225% Apr-16 965 880 940 31,588 395,646 362,870 21
May-16 970 890 945 20,263 171,152 160,775 20
180% Jun-16 1,140 940 1,125 23,140 265,155 276,639 22
Jul-16 1,535 1,075 1,425 35,579 522,621 649,680 16
Aug-16 1,760 1,390 1,610 64,095 850,668 1,383,690 22
135% 131.5%
Sep-16 1,725 1,555 1,610 33,693 555,674 876,893 21
Oct-16 1,750 1,540 1,590 46,525 482,319 769,371 21
90% 91.5%
Nov-16 1,610 1,385 1,550 32,247 734,308 1,072,887 22
Dec-16 3,510 1,505 3,390 144,205 2,301,473 6,457,197 20
45%
37.2%
Jan-17 3,400 2,240 2,300 55,966 586,008 1,600,856 21
- Feb-17 2,420 2,210 2,300 24,333 226,131 513,465 19
Mar-17 2,450 2,010 2,020 29,330 429,123 959,536 22
-45% Apr-17 2,470 1,960 2,010 39,524 698,601 1,468,573 17
Jun-17 2,520 2,150 2,210 27,836 1,712,033 4,748,592 15
Jul-17 2,300 1,980 2,070 34,724 999,802 2,090,513 21
Frequency (Thou. X) 242 270 515 378 71 Nov-17 2,490 2,260 2,490 16,688 454,336 1,097,579 22
Days 242 244 246 238 138 Dec-17 2,470 2,200 2,400 14,945 645,532 1,468,522 18
Price (Rupiah) Jan-18 2,400 2,220 2,310 17,275 282,052 645,756 22

High 1,175 1,025 3,510 3,400 2,400 Feb-18 2,350 2,170 2,270 13,144 325,249 761,929 19
Low 720 565 745 1,925 1,920 Mar-18 2,340 1,985 2,060 13,652 289,783 628,525 21
Close 730 755 3,390 2,400 2,060 Apr-18 2,110 1,920 2,060 8,476 573,048 1,158,080 21
Close* 730 755 3,390 2,400 2,060 May-18 2,220 2,000 2,050 7,965 286,123 595,614 20
Jun-18 2,190 2,000 2,090 5,300 178,530 370,644 13
PER (X) 7.44 5.26 21.19 19.20 10.97 Jul-18 2,170 2,030 2,060 4,857 270,991 561,257 22
PER Industry (X) 27.72 25.09 20.71 19.10 24.96
PBV (X) 1.06 0.94 3.41 2.30 1.79


Cash on Hand 2,767,678 2,402,588 2,215,341 2,513,053 2,107,998 125,000

568,461 12,838,700 9,206,598 8,037,656 5,198,013 100,000
Loans 49,616,998 54,368,172 62,754,600 71,035,168 71,750,758
75,000
Investment 27,748 27,748 31,984 30,681 40,821
Fixed Assets 1,044,844 1,023,314 2,740,397 2,925,337 2,954,279
50,000
Other Assets 1,408,121 1,271,269 1,306,084 1,449,301 2,077,559
Total Assets 75,836,537 88,697,430 102,318,457 114,980,168 113,434,959
25,000
Growth (%) 16.96% 15.36% 12.37% -1.34%
-
Deposits 53,487,890 66,822,171 79,153,531 87,281,096 87,012,008 2014 2015 2016 2017 Jun-18
Taxes Payable 105,751 129,533 26,695 63,431 221
Fund Borrowings 456,490 434,617 246,055 2,677,694 6,215,251
Other Liabilities 766,221 660,998 768,005 735,962 473,678 TOTAL EQUITY (Bill. Rp)
Growth (%) 19.07% 14.40% 13.56% -1.83% 10,105
9,674
11,132

8,861
7,084
Paid up Capital 2,424,073 2,424,073 2,424,073 2,424,073 2,424,073
6,590
Par Value 250 250 250 250 250 4,319

Total Equity 7,083,607 7,757,218 9,674,228 10,104,975 11,131,988 2,048
Growth (%) 9.51% 24.71% 4.45% 10.16%

-223
2014 2015 2016 2017 Jun-18

Growth (%) 14.70% 5.88% 7.58%

10,678
Other Operating Revenue 565,904 565,789 758,197 878,237 461,165 10,084
11,488

9,144

Growth (%) 27.93% -16.07% 11.86% 6,801
5,813
Non-Operating Revenues 22,655 -44,899 -56,401 -68,674 -39,177 4,457

Provision for Income Tax 318,455 385,434 310,683 420,560 257,703
2,114
Profit for the period 1,120,035 1,380,964 1,153,225 1,211,405 903,430 -230
Growth (%) 23.30% -16.49% 5.04% 2014 2015 2016 2017 Jun-18
Period Attributable 1,116,095 1,377,109 1,154,421 1,212,036 901,090

Comprehensive Income 1,120,035 1,369,829 2,741,103 1,295,004 907,272
Comprehensive Attributable 1,116,095 1,365,938 2,471,148 1,295,578 903,781 PROFIT FOR THE PERIOD (Bill. Rp)
1,381
1,381
1,120 1,153
Dividend (Rp) 71.60 84.80 89.00 90.30 -
EPS (Rp) 115.11 142.02 119.06 125.00 92.93 903
1,099
BV (Rp) 730.55 800.02 997.72 1,042.15 1,148.07 818
DAR (X) 0.84 0.86 0.85 0.86 0.86

DER(X) 9.02 9.81 9.00 9.78 8.71 536
ROA (%) 1.48 1.56 1.13 1.05 0.80

ROE (%) 15.81 17.80 11.92 11.99 8.12
254
OPM (%) 16.10 17.96 14.24 14.80 20.65

12.74 13.69 10.80 10.55 15.54
-28
NPM (%) 2014 2015 2016 2017 Jun-18

Payout Ratio (%) 62.20 59.71 74.75 72.24 -
Yield (%) 9.81 11.23 2.63 3.76 -

COMPANY REPORT
BKSL
SENTUL CITY TBK.
Company Profile
PT Sentul City Tbk. was established on April 16th, 1993 under the name of PT Sentragriya Kharisma. The
Company listed on The Jakarta Stock Exchange (JSX) and The Surabaya Stock Exchange (BES) on July 28th,
1997.
The scope of company activities include the areas of development, Trade, and Services. The company’s
main Business Activities are general contractor (which consists of The construction of real State, Building,
Office, apartements, shopping area, hospitals, schools), sale and purchase buildigns, placement of
installations, impor-export, and Building cleaning service.
The company has 17 subsidiaries, with ownership above 50%. To support self-sustaining town Concept,
The Company has established and built a wide range of supporting facilities to give more added value to
Sentul City.
In 2017 the Company recieved an award: Green Property Award from Housing Estate Magazine , The Most
Preferred Apartment Sentul Bogor 300-800 MIO from Rumah123.com, Property Indonesia Award 2017
with category The Prospective Condo Development in Bogor from Property Magazine Indonesia, and The
2nd Best Sales & Marketing 2017 from Economic Review Magazine.
The company’s head Office is located at Menara Sudirman Building, Floor 25 and 27, Jl. Jend Sudirman
Kav.60, Jakarta 12190. As of June 30th, 2018 the Company had 483 permanent employees.
August 2018
Disclaimer:

BKSL Sentul City Tbk.

Industry Sub Sector : Property And Real Estate (61) Market Capitalization : 6,962,590,873,098
131 | 6.96T | 0.10% | 88.03%
41 | 11.7T | 0.58% | 68.54%

Established Date : 16-Apr-1993 1. PT Sakti Generasi Perdana 21,571,244,865 : 39.04%
Listing Date : 28-Jul-1997 2. Stella Isabella Djohan 8,985,886,300 : 16.26%
Underwriter IPO : 3. Jonathan Tahir 3,354,177,360 : 6.07%
PT Trimegah Securindo Lestari 4. Public (<5%) 21,347,349,098 : 38.63%
Securities Administration Bureau :
PT Sirca Datapro Perdana DIVIDEND ANNOUNCEMENT
Bonus Cash Recording Payment
F/I
BOARD OF COMMISSIONERS Year Shares Dividend Cum Date Ex Date Date Date
1. Tranggono Ting *) 2013 0.25 28-Sep-15 29-Sep-15 01-Oct-15 20-Oct-15 F
2. Antonius Prijohandojo Kristanto
3. Soemarso Slamet Rahardjo *) ISSUED HISTORY
4. Sumarsono Listing Trading
*) Independent Commissioners No. Type of Listing Shares Date Date
1. First Issue 400,000,000 28-Jul-97 28-Jul-97
BOARD OF DIRECTORS 2. Company Listing 1,030,000,000 28-Jul-97 28-Jul-97
1. David Partono 3. Right Issue 4,004,000,000 03-Aug-99 03-Aug-99
2. Rickey Mabbun Leuterio 4. Reverse Stock Split -4,075,500,000 01-Aug-06 01-Aug-06
3. Ricky Kinanto Teh 5. Right Issue 8,151,000,000 10-Oct-06 10-Oct-06
6. Add. Listing without RI 507,508,598 02-Oct-09 02-Oct-09
AUDIT COMMITTEE 7. Right Issue 15,025,512,897 01-Feb-10 01-Feb-10
1. Soemarso Slamet Rahardjo 8. Warrant 850,105 03-Aug-10 03-Aug-10
2. Jonnardi 9. Warrant 25,000 05-Aug-10 05-Aug-10
3. Rusdy Daryono 10. Warrant 142,500 06-Aug-10 06-Aug-10
11. Warrant 924,801 09-Aug-10 09-Aug-10
CORPORATE SECRETARY 12. Warrant 2,400,886,000 10-Aug-10 10-Aug-10
Kwee Liana Kumala 13. Warrant 1,097,555,109 11-Aug-10 11-Aug-10
14. Add. Listing without RI 2,854,000,000 19-Aug-11 19-Aug-11
HEAD OFFICE 15. Add. Listing without RI 3,139,690,500 29-Dec-15 29-Dec-15
Sentul City Building 16. Right Issue 9,460,032 11-Apr-17 11-Apr-17
Jl. M. H. Thamrin Kav. 8 17. Right Issue 78,342,121 13-Apr-17 13-Apr-17
Bogor 16810 18. Right Issue 22,976,410 17-Apr-17 17-Apr-17
Phone : (021) 879-26555 19. Right Issue 230,391,078 18-Apr-17 18-Apr-17
Fax : (021) 879-26565 20. Right Issue 109,542,800 21-Apr-17 21-Apr-17
Homepage : www.bukitsentul.co.id 21. Right Issue 20,271,244,865 16-May-17 16-May-17
Email : Ptsc@sentulcity.co.id 22. Warrant I 31,500 16-Nov-17 16-Nov-17
sc-pr@sentulcity.co.id 23. Warrant I 70,000 23-Nov-17 23-Nov-17
corsec@sentulcity.co.id 24. Warrant I 4 16-Mar-18 16-Mar-18
25. Warrant I 3,000 28-Mar-18 28-Mar-18
26. Warrant I 105 09-Apr-18 09-Apr-18
27. Warrant I 83 13-Apr-18 13-Apr-18
28. Warrant I 100 17-Apr-18 17-Apr-18
29. Warrant I 15 26-Jun-18 26-Jun-18
30. Warrant I 100 23-Jul-18 23-Jul-18


TRADING ACTIVITIES
Sentul City Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
240 4,000 Jan-14 178 149 155 25,046 1,603,996 267,186 20
Feb-14 180 150 170 50,788 2,724,375 453,958 20
210 3,500 Mar-14 204 165 181 63,369 4,085,875 760,510 20
Apr-14 194 170 172 47,180 2,468,975 453,858 20
May-14 174 137 147 40,374 1,838,418 283,564 18
180 3,000
Jun-14 147 83 106 67,841 6,817,436 711,434 21
Jul-14 138 97 119 73,510 8,081,335 986,451 18
150 2,500
Aug-14 130 110 119 31,182 2,604,812 318,387 20
Sep-14 120 100 101 21,023 1,305,267 147,239 22
120 2,000
Oct-14 100 82 89 40,823 3,771,592 341,470 23
Nov-14 117 85 115 28,328 3,465,676 347,736 20
90 1,500 Dec-14 119 99 104 24,203 2,793,501 310,871 20
60 1,000 Jan-15 121 104 115 26,669 3,671,228 415,650 21

Feb-15 152 112 145 33,635 4,195,507 542,544 19
30 500 Mar-15 147 113 121 27,374 2,680,219 351,278 22
Apr-15 126 97 97 16,438 1,136,914 140,181 21
May-15 115 97 99 20,603 1,365,470 144,856 19
Jun-15 103 89 96 18,110 2,508,074 248,905 21
Jul-15 98 85 87 12,192 1,514,421 138,178 19
Aug-15 89 57 61 14,754 765,505 58,700 20
Sep-15 86 56 75 34,787 2,549,395 191,387 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-15 84 72 74 22,931 1,676,080 132,230 21
Property, Real Estate and Bulding Construction Index Nov-15 75 62 62 14,812 770,250 57,244 21
January 2014 - July 2018 Dec-15 66 52 58 16,482 2,932,287 314,378 19
80%
Jan-16 61 53 56 7,825 1,078,462 61,364 20
60% Feb-16 66 53 57 20,790 2,242,577 129,165 20
Mar-16 83 56 70 40,439 3,608,066 266,180 21
40% Apr-16 87 70 80 34,148 3,705,208 293,244 21
37.2%
29.5% May-16 92 77 85 26,946 3,200,458 262,055 20
20% Jun-16 94 83 88 44,421 5,009,311 481,750 22
Jul-16 96 85 93 22,594 3,072,463 278,669 16
Aug-16 121 93 97 53,991 6,910,684 717,554 22
-
Sep-16 106 89 93 26,610 2,908,868 280,877 21
Oct-16 96 89 91 24,855 2,209,714 192,881 21
-20%
-22.2% Nov-16 100 85 95 53,071 6,395,846 600,211 22
Dec-16 98 87 92 37,865 4,629,783 433,117 20
-40%
Jan-17 95 89 90 17,399 1,923,835 174,383 21

-60% Feb-17 105 90 97 41,080 5,338,686 524,712 19
Mar-17 100 88 96 28,537 2,253,012 211,960 22
-80% Apr-17 98 87 88 17,302 1,697,552 154,822 17
Jan 14 Jan 15 Jan 16 Jan 17 Jan 18 May-17 89 74 75 16,684 1,342,093 107,640 20
Jun-17 78 72 74 15,490 932,920 70,497 15
Jul-17 99 70 92 52,419 4,363,087 382,718 21
Volume (Million Sh.) 41,561 25,765 44,971 46,994 42,103 Sep-17 161 130 149 48,085 4,194,818 618,491 19
Value (Billion Rp) 5,383 2,736 3,997 5,396 7,910 Oct-17 157 125 143 58,873 4,162,656 584,080 22
Frequency (Thou. X) 514 259 394 468 562 Nov-17 165 137 156 63,890 5,672,940 835,158 22
Days 242 244 246 238 138 Dec-17 158 127 130 29,934 4,895,108 406,374 18
Price (Rupiah) Jan-18 152 128 147 42,495 6,049,308 1,543,612 22

High 204 152 121 165 238 Feb-18 220 148 206 122,575 12,524,788 2,362,395 19
Low 82 52 53 70 97 Mar-18 238 179 188 101,539 9,205,873 1,997,446 21
Close 104 58 92 130 126 Apr-18 210 185 187 48,082 1,825,744 358,645 21
Close* 104 58 92 130 126 May-18 189 138 141 79,265 3,456,873 533,057 20
Jun-18 151 107 110 56,098 2,530,653 329,462 13
PER (X) 105.94 40.38 22.86 64.80 13.96 Jul-18 146 97 126 112,041 6,509,978 785,718 22
PER Industry (X) 16.29 13.36 24.89 14.52 14.33
PBV (X) 0.47 0.31 0.47 0.75 0.69


Public Accountant : Tanubrata Sutanto Fahmi Bambang & Partners (Member of BDO International Limited)
Cash & Cash Equivalents 295,967 568,155 306,773 587,661 237,681 16,250
Receivables 634,592 610,147 953,216 1,270,667 1,111,777

13,000
Inventories 5,378,817 2,091,136 2,195,886 2,137,378 2,190,289

9,750
Investment - - 63,101 161,975 159,171
Fixed Assets 138,002 190,290 181,831 213,102 211,920
6,500
Other Assets - - - - -
Total Assets 9,796,065 11,145,897 11,359,506 14,977,041 15,231,842
3,250
Growth (%) 13.78% 1.92% 31.85% 1.70%
-
Trade Payable 224,641 212,959 169,723 406,106 388,848 2014 2015 2016 2017 Mar-18
Growth (%) 28.20% -8.64% 19.89% 2.54%
9,943 10,069
Paid up Capital 4,119,241 4,276,225 4,276,225 6,348,421 6,348,421

8,015
7,160
6,550
6,211
Par Value 2,000 & 400 & 100 2,000 & 400 & 100 2000 & 400 & 100 & 50 2000 & 400 & 100 & 50 2000 & 400 & 100 & 50
Retained Earnings 961,279 1,040,812 1,565,650 2,028,890 2,153,571

5,961
Total Equity 6,210,828 6,549,719 7,160,249 9,942,555 10,069,376 3,907
Growth (%) 5.46% 9.32% 38.86% 1.28%

1,853

Total Revenues 712,472 559,801 1,206,575 1,623,485 337,996
-201
2014 2015 2016 2017 Mar-18

Growth (%) -21.43% 115.54% 34.55%
Cost of Revenues 388,280 329,842 466,828 661,806 92,628

Gross Profit 324,193 229,959 739,747 961,679 245,368
Operating Expenses 143,208 25,412 82,752 352,965 87,063 1,623
Operating Profit 180,985 204,547 656,996 608,713 158,306

1,623
Growth (%) 13.02% 221.20% -7.35% 1,292

1,207
Other Income (Expenses) -112,478 -142,501 -94,605 -140,403 -32,510 961
712
Income before Tax 68,507 62,046 562,391 468,310 125,796
560
Tax 27,780 373 -36 -249 80 630
338
Profit for the period 40,727 61,674 562,427 468,559 125,716
Growth (%) 51.43% 811.94% -16.69%
299
-32
Period Attributable 53,270 49,610 564,302 464,928 124,681 2014 2015 2016 2017 Mar-18
Comprehensive Income 40,788 66,937 562,231 466,871 125,716
RATIOS Dec-14 Dec-15 Dec-16 Dec-17 Mar-18 562
Dividend (Rp) - - - - - 562
EPS (Rp) 1.30 1.79 16.28 13.57 3.64 469
BV (Rp) 197.82 189.65 207.32 287.88 291.56 448
DAR (X) 0.37 0.41 0.37 0.34 0.34

DER(X) 0.58 0.70 0.59 0.51 0.51
333
ROA (%) 0.42 0.55 4.95 3.13 0.83 218
ROE (%) 0.66 0.94 7.85 4.71 1.25 126

GPM (%) 45.50 41.08 61.31 59.24 72.60 103
41
62
OPM (%) 25.40 36.54 54.45 37.49 46.84
NPM (%) 5.72 11.02 46.61 28.86 37.19
-11
2014 2015 2016 2017 Mar-18

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

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.
Bank Mandiri has six business segments: Consumer Banking, Micro Banking, Commercial Banking,
Corporate Banking, Treasury and Financial Institutions.
Bank Mandiri took the initiative to become one of the institutions who implements the green banking
program as a way to realize the green economy concept for the banking sector, carried out accordingly
to the regulations of Bank Indonesia and the Ministry of Environment and Forestry. By definition, the
green economy concept encourages any kind of economic activity to pay close attention to
environmental sustainability by minimizing the impact of business activities on the surrounding
environment. One of the implementations of the green economy concept is through Bank Mandiri
green banking program that the Company has been undertaking to achieve business sustainability
through provision of environmentally friendly loan portfolio as well as operational activities.
As of December 31st, 2017 structure and the number of domestic and overseas offices of Bank Mandiri
(Total 2,631 offices) are as follows: 12 the domestic territory Office, Branches in the country: 83 Area
Offices, 1,293 Branch Offices, 1,074 Mandiri Mitra Usaha Offices, 177 Cash Outlets. 6 Overseas
branches (Cayman Islands, Singapore, Hong Kong, Timor Leste, Shanghai (China) and 1 remittance
office in Hong Kong).
Bank Mandiri received a number of awards in 2017: The Best FX Provider 2018 – in Indonesia, Silver
Champion of Jabodetabek WOW Service Excellence Award, The Highest Growing Bank in Mortgages
Primary Market, Gratification Award, etc.
The Company’s head office is domiciled in Jakarta and located at Jln. Jenderal Gatot Subroto Kav. 26-
38, Jakarta 12190. Total number of Bank Mandiri employees as of June 30th, 2018, was 38,559.
August 2018
Disclaimer:

BMRI Bank Mandiri (Persero) Tbk.

6 | 307.2T | 4.59% | 35.68%
4 | 89.0T | 4.46% | 21.18%

Established Date : 02-Oct-1998 1. Republic of Indonesia 28,000,000,000 : 60.61%
Listing Date : 14-Jul-2003 2. Public (<5%) 18,199,999,998 : 39.39%
Underwriter IPO :
PT. Danareksa Sekuritas (Affiliated) DIVIDEND ANNOUNCEMENT
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
2003 115.00 11-Jun-04 14-Jun-04 16-Jun-04 30-Jun-04 F
BOARD OF COMMISSIONERS 2004 60.00 16-Dec-04 17-Dec-04 21-Dec-04 30-Dec-04 I
1. Hartadi Agus Sarwono 2004 70.50 13-Jun-05 14-Jun-05 16-Jun-05 24-Jun-05 F
2. Ardan Adiperdana 2005 14.85 14-Jun-06 15-Jun-06 19-Jun-06 30-Jun-06 F
3. Askolani 2006 70.02 19-Jun-07 20-Jun-07 22-Jun-07 29-Jun-07 F
4. Bangun Sarwito Kusmulyono *) 2007 186.00 19-Jun-08 20-Jun-08 24-Jun-08 03-Jul-08 F
5. Goei Siauw Hong *) 2008 88.55 26-May-09 27-May-09 29-May-09 12-Jun-09 F
6. Imam Apriyanto Putro 2009 19.26 02-Dec-09 03-Dec-09 07-Dec-09 22-Dec-09 I
7. Makmur Keliat *) 2010 19.64 21-Dec-10 22-Dec-10 27-Dec-10 30-Dec-10 I
8. R. Widyo Pramono 2010 120.60 15-Jun-11 16-Jun-11 20-Jun-11 30-Jun-11 F
*) Independent Commissioners 2011 104.97 15-May-12 16-May-12 22-May-12 05-Jun-12 F
2012 199.33 26-Apr-13 29-Apr-13 01-May-13 16-May-13 F
BOARD OF DIRECTORS 2013 234.05 26-Mar-14 27-Mar-14 01-Apr-14 15-Apr-14 F
1. Kartika Wirjoatmodjo 2014 212.91 23-Mar-15 24-Mar-15 26-Mar-15 17-Apr-15 I
2. Agus Dwi Handaya 2015 261.45 29-Mar-16 30-Mar-16 01-Apr-16 22-Apr-16 F
3. Ahmad Siddik Badruddin 2016 266.27 21-Mar-17 22-Mar-17 24-Mar-17 13-Apr-17 F
4. Alexandra Askandar 2017 199.03 28-Mar-18 29-Mar-18 03-Apr-18 20-Apr-18 F
5. Darmawan Junaidi
6. Donsuwan Simatupang ISSUED HISTORY
7. Hery Gunardi Listing Trading
8. Panji Irawan No. Type of Listing Shares Date Date
9. Rico Usthavia Frans 1. First Issue 2,900,000,000 14-Jul-03 14-Jul-03
10. Royke Tumilaar 2. Company Listing 16,900,000,000 T: 14-Jul-03 : 30-Dec-03
11. Sulaiman Arif Arianto 3. MSOP Conversion 598,938,831 T: 26-Jul-04 : 09-Jan-07
4. Partial Delisting 1 % -9,955,000 06-Dec-05 06-Dec-05
AUDIT COMMITTEE 5. MSOP Conversion I & II 32,316,636 T: 11-Dec-06 : 15-Dec-06
1. Bangun Sarwito Kusmulyono 6. MSOP Conversion I 10,547,213 T: 21-Mar-07 : 16-Jul-08
2. Bambang Ratmanto 7. MSOP Conversion I, II & III 105,564,065 T: 10-May-07 : 02-Jun-08
3. Budi Sulistio 8. MSOP Conversion I & III 129,311,724 T: 14-May-07 : 28-May-08
4. Goei Siauw Hong 9. MSOP Conversion II & III 33,502,868 T: 14-Nov-07 : 19-May-10
5. Hartadi Agus Sarwono 10. MSOP Conversion III 86,224,280 T: 19-Nov-07 : 16-Dec-10
6. Makmur Keliat 11. MSOP Conversion II 44,125 02-Jun-10 02-Jun-10
12. Right Issue 2,313,505,257 02-Mar-11 02-Mar-11
CORPORATE SECRETARY 13. Stock Split 23,333,333,333 13-Sep-17 13-Sep-17
Rohan Afas
HEAD OFFICE
Mandiri Plaza
Jl. Jend. Gatot Subroto Kav. 36 - 38
Jakarta 12190
Phone : (021) 526-5045
Fax : (021) 5274477; 527557
Homepage : www.bankmandiri.co.id
Email : corporate.secretary@bankmandiri.co.id
mandiricare@bankmandiri.co.id


TRADING ACTIVITIES
Bank Mandiri (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
10,000 240 Jan-14 9,525 7,600 8,700 76,373 650,120 5,508,866 20
Feb-14 9,650 8,400 9,100 76,609 701,451 6,330,151 20
8,750 210 Mar-14 10,250 9,000 9,450 87,370 821,343 7,785,861 20
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
7,500 180
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
6,250 150
Aug-14 10,650 10,025 10,375 59,900 443,282 4,620,858 20
Sep-14 10,700 9,825 10,075 67,815 578,571 5,988,220 22
5,000 120
Oct-14 10,375 9,300 10,350 91,426 651,302 6,403,397 23
Nov-14 10,725 10,100 10,525 54,054 359,724 3,761,633 20
3,750 90 Dec-14 10,875 10,125 10,775 57,885 416,710 4,418,807 20
2,500 60 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
1,250 30 Mar-15 12,475 11,750 12,475 70,026 428,152 5,146,324 22
Apr-15 12,550 10,350 10,750 80,765 638,748 7,347,327 21
May-15 11,725 10,700 10,775 75,800 721,520 8,037,833 19
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
Aug-15 10,075 8,125 9,100 117,687 957,499 8,726,356 20
Sep-15 9,000 7,150 7,925 74,765 574,228 4,839,637 21
January 2014 - July 2018 Dec-15 9,250 8,450 9,250 66,540 386,816 3,436,104 19
140%
Jan-16 9,600 9,000 9,600 63,648 481,137 4,499,144 20
120% Feb-16 10,400 9,175 9,550 96,936 776,545 7,514,552 20
Mar-16 10,375 9,375 10,300 79,327 646,595 6,486,963 21
100% Apr-16 10,450 9,200 9,650 103,785 640,026 6,220,689 21
91.5% May-16 9,875 8,650 9,025 82,283 620,912 5,630,533 20
80% Jun-16 9,700 8,850 9,525 80,833 483,413 4,461,305 22
Jul-16 10,475 9,325 10,100 101,843 895,356 8,894,030 16
64.2% Aug-16 11,950 10,200 11,225 110,757 1,108,750 12,388,111 22
60%
Sep-16 11,750 10,500 11,200 98,909 533,559 5,996,901 21
Oct-16 11,650 10,750 11,475 78,139 491,642 5,446,069 21
40%
37.2% Nov-16 11,900 10,025 10,500 105,708 623,662 6,719,559 22
Dec-16 11,725 10,500 11,575 70,688 372,585 4,051,933 20
20%
Jan-17 11,600 10,900 10,900 58,199 353,534 3,936,579 21

- Feb-17 11,600 10,900 11,300 70,997 549,633 6,175,257 19
Mar-17 12,025 11,200 11,700 65,917 518,324 6,014,235 22
-20% Apr-17 12,425 11,400 11,700 60,748 449,776 5,309,858 17
Jun-17 12,850 12,150 12,750 44,727 283,347 3,545,827 15
Jul-17 13,650 12,675 13,650 63,234 416,102 5,527,186 21
Value (Billion Rp) 72,645 73,668 78,310 70,529 54,897 Oct-17 7,150 6,575 7,050 72,621 1,130,306 7,793,188 22
Frequency (Thou. X) 872 967 1,073 780 678 Nov-17 7,600 6,925 7,400 77,161 1,239,339 9,016,255 22
Days 242 244 246 238 138 Dec-17 8,100 7,300 8,000 62,201 834,133 6,343,226 18
Price (Rupiah) Jan-18 8,300 7,650 8,150 91,640 1,292,811 10,380,113 22

High 11,000 12,550 11,950 13,675 9,050 Feb-18 9,050 7,925 8,300 80,550 831,900 6,900,691 19
Low 7,600 7,150 8,650 6,500 6,250 Mar-18 8,475 7,525 7,675 93,829 987,194 7,934,761 21
Close 10,775 9,250 11,575 8,000 6,650 Apr-18 8,125 6,500 7,125 100,126 1,011,407 7,469,452 21
Close* 5,388 4,625 5,788 8,000 6,650 May-18 7,625 6,525 7,050 135,827 1,352,712 9,427,562 20
Jun-18 7,450 6,425 6,850 76,823 767,485 5,268,917 13
PER (X) 13.05 10.51 16.86 18.09 12.61 Jul-18 6,975 6,250 6,650 99,178 1,164,833 7,515,298 22
PER Industry (X) 27.72 25.09 20.71 19.10 24.96
PBV (X) 2.54 1.81 1.77 2.20 1.83


Cash on Hand 20,704,563 25,109,124 22,906,775 24,268,563 28,008,308 1,162,500

40,465,158 43,641,564 55,419,454 59,609,972 58,851,739 930,000
Loans 505,394,870 564,393,595 56,551,643 678,292,520 711,401,289
697,500
Investment 766,524 646,753 829,945 2,690,202 3,573,766
Fixed Assets 8,928,856 9,761,688 35,663,290 36,618,753 36,522,897
465,000
Other Assets 11,239,398 11,292,727 11,557,238 15,014,218 17,837,686
Total Assets 855,039,673 910,063,409 1,038,706,009 1,124,700,847 1,155,547,664
232,500
Growth (%) 6.44% 14.14% 8.28% 2.74%
-
Deposits 600,980,756 634,968,568 711,399,426 753,822,372 751,745,681 2014 2015 2016 2017 Jun-18
Taxes Payable 1,875,141 2,131,616 1,258,792 1,009,832 1,390,692
Fund Borrowings 24,227,104 33,764,671 35,882,757 35,703,679 47,515,194
Growth (%) -1.87% 12.00% 7.70% 3.23% 170,042
153,370

135,354
119,492
104,845
Paid up Capital 11,666,667 11,666,667 11,666,667 23,333,333 11,666,667
100,665
Par Value 500 500 500 500 500 65,976

Total Equity 104,844,562 119,491,841 153,369,723 170,006,132 170,042,142 31,288
Growth (%) 13.97% 28.35% 10.85% 0.02%

-3,401
2014 2015 2016 2017 Jun-18

Growth (%) 14.26% 7.18% 3.64%

76,710
71,570
79,502
62,638

Growth (%) 1.39% -29.33% 45.97% 47,065
38,824
Non-Operating Revenues 29,909 30,458 -39,762 -12,888 -31,983 30,847

14,628
Growth (%) 2.41% -30.74% 46.37% 2014 2015 2016 2017 Jun-18

21,152 21,443
20,655
21,443
Dividend (Rp) 212.91 261.45 266.27 199.03 -

14,650
EPS (Rp) 851.65 871.50 591.71 442.28 521.92
17,069
12,579
BV (Rp) 4,493.34 5,121.08 6,572.99 3,642.99 7,287.52 12,694
DAR (X) 0.88 0.81 0.79 0.79 0.79

DER(X) 7.16 6.16 5.38 5.22 5.39 8,320
ROA (%) 2.42 2.32 1.41 1.91 1.09

ROE (%) 19.70 17.70 9.55 12.61 7.40
3,946
OPM (%) 41.47 36.80 24.26 34.18 40.52

32.97 29.55 19.10 26.97 32.40
-429
NPM (%) 2014 2015 2016 2017 Jun-18

Payout Ratio (%) 25.00 30.00 45.00 45.00 -
Yield (%) 1.98 2.83 2.30 2.49 -

C
COOM
MPPA
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BRPT
BARITO PACIFIC TBK.
Company Profile
PT Barito Pacific Tbk. was established on 1979 under the name of PT Bumi Raya Pura Mas Kalimantan.
The Company started its commercial operations in 1983 as an integrated wood-based company.
Moreover, Barito Pacific was highly regarded in forestry and timber industry in the '80s. As of August
29th, 2007, the Company changed its name to PT Barito Pacific Tbk.
The Company’s business sectors and type of product: Forestry, Plantation, Mining, Industry, Property,
Trading, Renewable Energy, and Transportation. Some main products and services produced by the
Company’s subsidiaries are feedstocks for the downstream plastics industry (ethylene, propylene, pygas,
and mixed C4), plantation commodities (palm oil, and their derivatives), property rental (office and
hotel), and so forth.
The Company has ownership of subsidiaries in the field of petrochemicals, forestry and wood processing
industries, industrial plantations, glue (adhesive), property, plantations, etc.
In 2017 the company received awards: Green Industry Award 2017, CAP received Silver Award for
Manufacture Company category in the Operational Excellence Conference 2017 (OPEXCON17) by SSCX
International, Styrindo Mono Indonesia (SMI), received TPM Excellence Award Japan Institute of Plant
Maintenance, CAP received Gold Award in the 2017 Responsible Care Award held by Responsible Care
Indonesia (RCI), etc.
The Company is domiciled in Banjarmasin with its plants located in Jelapat, Banjarmasin. The Company’s
office in Jakarta is located at Wisma Barito Pacific Tower B, 8th. Floor , Jl. Letjen S. Parman Kav. 62-63
Jakarta 11410. As of March 31st, 2018, the Company and subsidiaries had 2,407 permanent employees.
August 2018
Disclaimer:

BRPT Barito Pacific Tbk.

Industry Sector : Basic Industry& Chemicals (3) Listed Shares : 17,791,586,878
Industry Sub Sector : Chemicals (34) Market Capitalization : 32,291,730,183,570
33 | 32.3T | 0.48% | 65.85%
33 | 16.0T | 0.80% | 62.97%

Established Date : 04-Apr-1979 1. Prajogo Pangestu 12,083,547,731 : 67.92%
Listing Date : 01-Oct-1993 2. Prajogo 1,045,000,000 : 5.87%
PT Makindo
PT Sirca Datapro Perdana Bonus Cash Recording Payment
F/I
BOARD OF COMMISSIONERS 1993 133.00 26-Jul-94 27-Jul-94 03-Aug-94 03-Sep-94 F
1. Prajogo Pangestu 1994 1:1 12-Sep-94 13-Sep-94 20-Sep-94 20-Oct-94 BS
2. Alimin Hamdy *) 1994 50.00 26-Jul-95 27-Jul-95 04-Aug-95 01-Sep-95 F
3. Harlina Tjandinegara 1995 50.00 18-Jul-96 19-Jul-96 29-Jul-96 27-Aug-96 F
*) Independent Commissioners 1996 55.00 23-Jul-97 24-Jul-97 01-Aug-97 01-Sep-97 F
2017 24.43 26-Jun-18 27-Jun-18 29-Jun-18 18-Jul-18 F
BOARD OF DIRECTORS
1. Agus Salim Pangestu ISSUED HISTORY
2. Andry Setiawan Listing Trading
3. David Kosasih No. Type of Listing Shares Date Date
4. Rudy Suparman 1. First Issue 85,000,000 01-Oct-93 01-Oct-93
2. Company Listing 610,150,000 01-Oct-93 31-May-94
AUDIT COMMITTEE 3. Koperasi 4,850,000 01-Oct-93 31-May-00
1. Alimin Hamdy 4. Bonus Shares 700,000,000 21-Oct-94 21-Oct-94
2. Dikdik Sugiharto 5. Add. Listing without RI 1,369,425,752 27-Dec-02 27-Dec-02
3. Kurniadi 6. Partial Delisting -155,913,126 14-Feb-03 14-Feb-03
7. Add. Listing without RI 3,947,168 28-Aug-03 28-Aug-03
CORPORATE SECRETARY 8. Right Issue 4,362,432,990 02-Jan-08 02-Jan-08
Salwati Agustina 9. Stock Split 6,979,892,784 12-Jul-17 12-Jul-17
10. Right Issue I 3,154,738,671 20-Jun-18 20-Jun-18
HEAD OFFICE 11. Right Issue I 1,683,530 21-Jun-18 21-Jun-18
Wisma Barito Pacific Tower B, 8th Floor 12. Right Issue I 46,933,612 26-Jun-18 26-Jun-18
Jl. Letjen S. Parman Kav. 62-63 13. Right Issue I 27,445,497 27-Jun-18 27-Jun-18
Jakarta 11410 14. Right Issue II 601,000,000 28-Jun-18 28-Jun-18
Phone : (021) 530-6711
Fax : (021) 530-6680
Homepage : www.barito-pacific.com
Email : corpsec@barito.co.id


TRADING ACTIVITIES
Barito Pacific Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
2,800 640 Jan-14 420 360 369 605 23,719 9,186 20
Feb-14 371 348 357 784 4,768 1,698 20
2,450 560 Mar-14 357 339 340 930 8,793 3,063 20
Apr-14 344 302 315 1,423 14,526 4,891 20
May-14 340 298 302 5,976 30,269 9,647 18
2,100 480
Jun-14 305 290 296 834 12,954 5,911 21
Jul-14 300 285 285 356 2,122 616 18
1,750 400
Aug-14 295 281 284 973 7,370 2,112 20
Sep-14 287 271 273 895 4,999 1,398 22
1,400 320
Oct-14 278 253 268 854 2,478 646 23
Nov-14 370 260 307 3,105 16,285 5,135 20
1,050 240 Dec-14 320 290 303 1,783 7,463 2,265 20
700 160 Jan-15 310 280 307 1,090 7,150 2,136 21

Feb-15 310 288 295 490 3,508 1,044 19
350 80 Mar-15 295 271 280 669 5,301 2,581 22
Apr-15 290 256 267 309 2,789 1,906 21
May-15 290 249 277 1,126 8,269 2,197 17
Jun-15 280 240 242 417 6,392 1,599 21
Jul-15 244 222 222 185 3,036 701 18
Aug-15 232 160 163 713 6,099 1,176 20
Sep-15 164 116 126 904 16,652 2,100 21
Basic Industry and Chemicals Index Nov-15 143 120 127 605 22,075 2,948 21
January 2014 - July 2018 Dec-15 135 118 130 485 130,494 15,771 19
1,190%
Jan-16 215 124 212 1,713 11,996 2,239 20
1,020% Feb-16 395 212 394 3,979 28,581 8,692 20
Mar-16 610 390 470 4,450 30,584 15,708 14
850% Apr-16 525 340 515 3,542 23,111 10,283 21
May-16 545 442 476 4,294 27,227 13,321 20
754.1%
680% Jun-16 500 460 484 3,738 19,158 9,129 22
Jul-16 685 474 645 3,282 44,416 22,103 16
Aug-16 1,090 610 1,075 16,201 220,091 206,996 21
510%
Sep-16 1,125 780 975 32,057 406,011 382,508 21
Oct-16 1,485 910 1,420 48,744 662,129 768,145 21
340%
Nov-16 1,745 1,385 1,570 55,597 742,572 1,158,637 22
Dec-16 1,590 1,290 1,465 43,554 497,894 732,883 20
170%
61.3% Jan-17 1,820 1,470 1,805 55,908 566,611 959,501 21

- 37.2%
Feb-17 2,560 1,770 2,220 78,258 685,154 1,512,444 19
Mar-17 3,090 2,210 2,900 70,853 705,534 1,859,438 22
-170% Apr-17 3,730 2,900 3,150 51,958 490,588 1,640,537 17
Jun-17 3,340 2,750 2,930 26,743 317,340 1,004,417 15
Jul-17 3,030 1,450 1,665 41,005 588,352 1,093,868 21
Volume (Million Sh.) 136 237 2,714 8,351 3,537 Sep-17 2,300 1,965 1,995 57,852 768,811 1,641,921 19
Value (Billion Rp) 47 38 3,331 17,655 8,139 Oct-17 2,080 1,820 2,020 70,907 813,387 1,595,127 22
Days 242 241 238 238 138 Dec-17 2,450 2,210 2,260 38,230 815,777 1,588,593 18
Price (Rupiah) Jan-18 2,670 2,030 2,640 67,075 678,750 1,526,773 22

High 420 310 1,745 3,730 2,720 Feb-18 2,720 2,310 2,620 46,196 502,721 1,265,078 19
Low 253 116 124 1,450 1,675 Mar-18 2,670 2,300 2,310 44,945 658,766 1,631,983 21
Close 303 130 1,465 2,260 1,815 Apr-18 2,620 2,290 2,470 33,830 467,695 1,149,618 21
Close* 153 66 741 2,287 1,815 May-18 2,480 2,080 2,120 37,611 490,118 1,114,313 20
Jun-18 2,220 1,880 1,980 27,945 283,001 594,806 13
PER (X) -15.88 -12.28 6.05 19.72 30.68 Jul-18 2,000 1,675 1,815 47,422 456,206 856,380 22
PER Industry (X) 16.60 4.10 20.86 13.10 13.08
PBV (X) 0.16 0.06 0.57 1.15 1.14


Public Accountant : Satrio Bing Eny & Partners (Member of Deloitte Touche Tohmatsu Limited)
Receivables 1,393,715 879,493 1,993,661 2,944,536 3,304,673

2,769,336 2,687,097 2,719,205 3,272,939 3,192,795 40,000
Inventories
Current Assets 8,637,399 6,573,181 9,791,794 20,376,964 20,290,912
30,000
Fixed Assets 17,879,722 23,265,291 9,791,794 23,102,768 24,008,374
Other Assets 74,355 50,010 43,640 - -
20,000
Total Assets 28,918,911 33,023,452 34,538,447 49,354,389 49,342,758
Growth (%) 14.19% 4.59% 42.90% -0.02% 10,000

Growth (%) -1.93% -2.69% 46.10% -5.13%
27,325
Paid up Capital 6,979,893 6,979,893 6,979,893 13,959,786 13,959,786 28,444

Par Value 1,000 1,000 1,000 50 & 1000 50 & 1000 19,460
22,641
17,528
Retained Earnings -1,438,111 -1,804,936 114,999 1,716,193 2,005,680
Total Equity 13,118,774 17,528,438 19,460,272 27,324,948 28,443,653 13,119
16,839
Growth (%) 33.61% 11.02% 40.41% 4.09% 11,036
Total Revenues 30,802,567 19,396,281 26,352,121 33,231,171 9,595,360

Growth (%) -37.03% 35.86% 26.10%
-569
2014 2015 2016 2017 Mar-18
Cost of Revenues 29,435,278 17,477,357 19,802,662 25,920,061 7,690,484

Gross Profit 1,367,288 1,918,925 6,549,459 7,311,110 1,904,876
Expenses (Income) 1,407,434 1,439,763 1,443,201 2,089,657 656,340
Operating Profit - - - 5,221,453 1,248,536 33,231
30,803
Growth (%)
33,231
26,352
26,452

19,396
Income before Tax 69,803 509,140 5,106,258 5,221,453 1,248,536 19,673
Tax 87,214 434,653 1,346,919 1,429,517 383,187

Profit for the period -17,410 74,487 3,759,339 3,791,936 808,990 12,894
9,595
Growth (%) N/A 4,946.98% 0.87%

6,115
Period Attributable 108,243 78,488 1,769,575 1,600,236 263,139 -665
Comprehensive Income -29,349 2,697 3,709,881 3,797,274 727,596 2014 2015 2016 2017 Mar-18
Comprehensive Attributable 119,622 145,515 1,730,597 1,615,816 179,598
Current Ratio (%) 140.40 110.58 133.83 172.26 221.41
3,759 3,792
Dividend (Rp) - - - 24.43 - 3,792
EPS (Rp) 15.51 11.24 253.52 76.42 12.57

BV (Rp) 1,879.51 2,511.28 2,788.05 1,304.94 1,358.36 3,030
DAR (X) 0.55 0.47 0.44 0.45 0.42

DER(X) 1.20 0.88 0.77 0.81 0.73
2,268
ROA (%) -0.06 0.23 10.88 7.68 1.64 1,506
ROE (%) -0.13 0.42 19.32 13.88 2.84 809

GPM (%) 4.44 9.89 24.85 22.00 19.85 744
OPM (%) - - - 15.71 13.01 2014 74
NPM (%) -0.06 0.38 14.27 11.41 8.43

-17
-17 2015 2016 2017 Mar-18

Payout Ratio (%) - - - 31.97 -
Yield (%) - - - 1.08 -

C
COOM
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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 purpose 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. Since 2008, the company has become a public company that listed
in the Indonesia Stock Exchange.
PT Bumi Serpong Damai Tbk. has been at the forefront of self-sufficient city development since 1984. A
business group under Sinar Mas Land, the Company brought to Indonesia its flagship project, the BSD City –
the most ambitious urban planning scheme in Indonesia to combine housing, business and commercial
properties.
The Company is one of the biggest property developers in Indonesia with a series of diversified portfolio in
the context of products and locations. Currently, the company product development is not only focused on
Jabodetabek, but has reached other areas, such as Semarang, Surabaya, Medan, Palembang, Balikpapan,
Samarinda, Manado and Makassar. In total, The company is currently present in 9 big cities in Indonesia.
The three largest subsidiaries of the Company are PT Duta Pertiwi Tbk., PT Sinar Mas Wisesa, and PT Sinar
Mas Teladan.
The Company’s office is located at Sinar Mas Land Plaza, BSD Green Office Park, Tangerang 15345. The
Company’s real estate project is called Bumi Serpong Damai which is located in Banten Province.
In , the company received a number of awards: 100 Fastest Growing Company Awards, Property Developer
Consumer Choice Awards, Indonesia My Home Award IV, Asia Pacific Property Award, Best Wealth Creator
(100 Asean Best Public Companies), FIABCI World Prix D’excellence Awards, Property Innovation Award,
Housing Estate Award, Indonesia Most Powerful Companies Award (IMPCA), BTN Golden Property Award,
Etc.
As of June 30th, 2018, the Company has a total number of 2,153 employees. The total number of employees
of the Group is 3,897.
August 2018
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.

BSDE Bumi Serpong Damai Tbk.

43 | 26.0T | 0.39% | 70.24%
65 | 7.38T | 0.37% | 80.26%

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 4,813,031,900 : 25.01%
PT CLSA Indonesia
PT Nusadana Capital Indonesia (affiliated) DIVIDEND ANNOUNCEMENT
PT Sinarmas Sekuritas (affiliated) 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
2009 6.00 01-Jul-10 02-Jul-10 06-Jul-10 20-Jul-10 F
1. Muktar Widjaja 2012 15.00 21-Jun-13 24-Jun-13 26-Jun-13 10-Jul-13 F
2. Susiyati Bambang Hirawan *) 2013 15.00 12-Jun-14 13-Jun-14 17-Jun-14 01-Jul-14 F
3. Teddy Pawitra *) 2014 15.00 13-May-15 15-May-15 19-May-15 05-Jun-15 F
4. Teky Mailoa 2015 5.00 26-May-16 27-May-16 31-May-16 15-Jun-16 F
5. Yoseph Fransciscus Bonang 2016 5.00 09-Jun-17 12-Jun-17 14-Jun-17 06-Jul-17 F
*) Independent Commissioners
ISSUED HISTORY
BOARD OF DIRECTORS Listing Trading
1. Franciscus Xaverius Ridwan Darmali No. Type of Listing Shares Date Date
2. Hermawan Wijaya 1. First Issue 1,093,562,000 06-Jun-08 06-Jun-08
3. Liauw Herry Hendarta 2. Company Listing 9,842,060,870 06-Jun-08 01-Feb-09
4. Lie Jani Harjanto 3. Right Issue I 6,561,373,722 21-Dec-10 21-Dec-10
5. Michael Jackson Purwanto Widjaja 4. Add. Listing without RI 874,849,800 16-May-14 16-May-14
6. Monik William 5. Add. Listing without RI 874,849,800 14-Apr-15 14-Apr-15
7. Petrus Kusuma
8. Syukur Lawigena
AUDIT COMMITTEE
1. Susiyati Bambang Hirawan
2. Herawan Hadidjaja
3. Rusli Prakarsa
CORPORATE SECRETARY
Christy Grassela
HEAD OFFICE
Sinar Mas Land Plaza
Grand Boulevard, BSD Green Office Park
Tangerang 15345
Phone : (021) 5036-8368
Fax : (021) 5058-8270
Homepage : www.bsdcity.com; www.sinarmasland.com
Email : corporate.secretary@sinarmasland.com
christy.grassela@sinarmasland.com


TRADING ACTIVITIES
Bumi Serpong Damai Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
2,400 560 Jan-14 1,600 1,200 1,440 37,323 489,096 698,307 20
Feb-14 1,600 1,405 1,535 33,288 536,893 824,896 20
2,100 490 Mar-14 1,750 1,490 1,635 49,830 1,086,155 1,786,918 20
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
1,800 420
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
1,500 350
Aug-14 1,655 1,525 1,605 35,408 402,011 642,263 20
Sep-14 1,660 1,510 1,545 38,489 410,647 651,533 22
1,200 280
Oct-14 1,610 1,420 1,605 44,191 469,700 713,262 23
Nov-14 1,790 1,510 1,770 25,353 415,384 676,549 20
900 210 Dec-14 1,895 1,620 1,805 38,562 571,770 1,026,692 20
600 140 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
300 70 Mar-15 2,220 1,995 2,135 62,387 862,616 1,783,198 22
Apr-15 2,210 1,800 1,865 47,444 642,577 1,310,178 21
May-15 1,995 1,780 1,905 46,933 599,520 1,140,180 19
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
Aug-15 1,845 1,285 1,605 50,155 345,195 555,520 20
Sep-15 1,605 1,235 1,405 52,164 309,768 451,821 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-15 1,795 1,380 1,620 48,845 539,657 893,122 21
Property, Real Estate and Bulding Construction Index Nov-15 1,750 1,565 1,685 39,619 389,705 657,357 21
January 2014 - July 2018 Dec-15 1,835 1,580 1,800 38,504 372,398 645,560 19
105%
Jan-16 1,850 1,650 1,730 40,294 505,407 890,031 20
90% Feb-16 1,825 1,630 1,685 48,500 621,828 1,080,765 20
Mar-16 1,940 1,675 1,835 55,999 1,460,762 2,583,391 21
75% Apr-16 2,005 1,795 1,850 46,125 1,220,928 2,300,898 21
May-16 1,845 1,695 1,830 42,386 640,007 1,136,003 20
60% Jun-16 2,210 1,815 2,110 58,891 1,084,821 2,158,806 22
Jul-16 2,170 2,000 2,090 51,646 598,437 1,220,871 16
Aug-16 2,380 2,010 2,150 79,592 1,049,840 2,311,552 22
45%
Sep-16 2,230 1,965 2,200 60,899 889,291 1,878,939 21
37.2%
Oct-16 2,260 2,120 2,170 37,358 459,528 1,006,669 21
30% 29.5% Nov-16 2,180 1,680 1,700 61,762 704,861 1,311,439 22
Dec-16 1,890 1,550 1,755 50,767 451,173 783,762 20
15%
Jan-17 1,900 1,705 1,830 50,289 616,470 1,115,405 21

- 2.3%
Feb-17 1,920 1,800 1,830 34,977 396,792 746,056 19
Mar-17 1,885 1,700 1,885 40,260 693,197 1,270,594 22
-15% Apr-17 1,900 1,750 1,790 39,696 376,386 679,573 17
Jun-17 1,840 1,755 1,830 36,210 238,327 428,062 15
Jul-17 1,900 1,720 1,790 41,729 420,300 752,575 21
Days 242 244 246 238 138 Dec-17 1,725 1,560 1,700 32,021 218,542 357,454 18
Price (Rupiah) Jan-18 1,845 1,665 1,820 54,127 418,297 726,323 22

High 1,895 2,230 2,380 1,920 1,965 Feb-18 1,940 1,740 1,935 45,088 465,688 856,602 19
Low 1,200 1,235 1,550 1,560 1,350 Mar-18 1,965 1,700 1,780 66,423 463,615 826,000 21
Close 1,805 1,800 1,755 1,700 1,350 Apr-18 1,845 1,635 1,690 41,587 312,049 552,688 21
Close* 1,805 1,800 1,755 1,700 1,350 May-18 1,755 1,445 1,705 55,402 408,863 665,420 20
Jun-18 1,785 1,550 1,565 38,515 220,411 371,263 13
PER (X) 7.76 16.19 21.87 6.65 31.75 Jul-18 1,580 1,350 1,350 52,575 348,475 502,419 22
PER Industry (X) 16.29 13.36 24.89 14.52 14.33
PBV (X) 1.89 1.57 1.44 1.12 0.87


Public Accountant : Mirawati Sensi Idris (Member of Moore Stephens International Limited)
Receivables 138,627 165,542 516,499 624,955 592,444

50,000
Inventories 5,239,017 6,547,652 7,440,632 7,910,269 8,602,270

37,500
Investment 5,331,879 5,414,215 5,863,127 7,205,168 9,327,334
Fixed Assets 607,790 803,253 823,401 771,937 720,654
25,000
Other Assets 415 415 415 1,575 1,574
Total Assets 28,134,725 36,022,148 38,292,206 45,951,188 51,374,603
12,500
Growth (%) 28.03% 6.30% 20.00% 11.80%
-
Trade Payable 158,055 316,601 261,224 1,767,641 1,472,327 2014 2015 2016 2017 Jun-18
Growth (%) 44.14% 0.10% 20.19% 29.24%
29,197 29,722
Paid up Capital 1,837,185 1,924,670 1,924,670 1,924,670 1,924,670 24,353
22,097
23,658
18,473
Par Value 100 100 100 100 100
17,595
Total Equity 18,473,430 22,096,690 24,352,907 29,196,851 29,721,683 11,532
Growth (%) 19.61% 10.21% 19.89% 1.80%

5,469

Total Revenues 5,571,872 6,209,574 6,521,770 10,347,343 3,120,029
-594
2014 2015 2016 2017 Jun-18

Growth (%) 11.45% 5.03% 58.66%
Cost of Revenues 1,440,361 1,571,559 1,840,304 2,756,914 879,749

Gross Profit 4,131,511 4,638,016 4,681,466 7,590,429 2,240,280
Operating Expenses 1,499,935 2,090,606 2,205,389 2,528,033 1,238,653 10,347
Operating Profit 2,631,576 2,547,410 2,476,077 5,062,396 1,001,627

Growth (%) -3.20% -2.80% 104.45% 8,236
6,210 6,522
Other Income (Expenses) 8,170 -232,949 -651,912 -328,862 -409,825 6,126
5,572
Income before Tax 4,306,326 2,362,082 2,065,443 5,228,121 582,696

Tax 309,862 10,702 27,905 39,349 3,442 4,015
3,120
Profit for the period 3,996,464 2,351,380 2,037,538 5,166,720 579,254

Growth (%) -41.16% -13.35% 153.58%
1,904
-207
Period Attributable 3,820,552 2,139,497 1,796,156 4,920,228 409,224 2014 2015 2016 2017 Jun-18
Comprehensive Income 3,994,332 2,346,110 2,018,142 5,097,011 555,344
Comprehensive Attributable 3,817,256 2,134,233 1,777,979 4,852,979 384,648
Dividend (Rp) 15.00 5.00 5.00 - - 5,167
EPS (Rp) 217.53 122.17 105.86 268.45 30.10 3,996

BV (Rp) 1,005.53 1,148.08 1,265.30 1,516.98 1,544.25 4,113
DAR (X) 0.34 0.39 0.36 0.36 0.42

DER(X) 0.52 0.63 0.57 0.57 0.73 2,351
3,059
2,038
ROA (%) 14.20 6.53 5.32 11.24 1.13 2,005
ROE (%) 21.63 10.64 8.37 17.70 1.95

GPM (%) 74.15 74.69 71.78 73.36 71.80 951 579
OPM (%) 47.23 41.02 37.97 48.92 32.10
NPM (%) 71.73 37.87 31.24 49.93 18.57
-103
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 6.90 4.09 4.72 - -
Yield (%) 0.96 0.32 0.32 - -

DVLA Darya-Varia Laboratoria Tbk.

Industry Sector : Consumer Goods Industry (5) Listed Shares : 1,120,000,000
Industry Sub Sector : Pharmaceuticals (53) Market Capitalization : 2,150,400,000,000
275 | 2.15T | 0.03% | 96.72%
528 | 0.005T | 0.0003% | 99.995%

Established Date : 05-Feb-1976 1. Blue Sphere Singapore Pte. Ltd. 1,031,800,912 : 92.13%
Listing Date : 11-Nov-1994 2. Public (<5%) 88,199,088 : 7.87%
Underwriter IPO :
PT Wardley James C.I DIVIDEND ANNOUNCEMENT
F/I
PT Sharestar Indonesia Year Shares Dividend Cum Date Ex Date Date Date
1994 75.00 13-Jul-95 14-Jul-95 24-Jul-95 24-Aug-95 F
BOARD OF COMMISSIONERS 1995 1:1 27-Sep-95 28-Sep-95 06-Oct-95 24-Oct-95 BS
1. Jocelyn Campos Hess 1995 45.00 08-Jul-96 09-Jul-96 17-Jul-96 15-Aug-96 F
2. Clinton Andrew Campos Hess 1996 60.00 24-Jul-97 25-Jul-97 04-Aug-97 27-Aug-97 F
3. Darodjatun Sanusi *) 2005 55.00 01-Aug-06 02-Aug-06 04-Aug-06 23-Aug-06 F
4. Manuel P. Engwa 2007 45.00 27-Jun-08 26-Jun-08 01-Jul-08 15-Jul-08 F
5. Mariano John L. Tan 2008 45.00 29-Jun-09 30-Jun-09 03-Jul-09 18-Jul-09 F
6. Soedibyo Rahardjo *) 2009 45.00 13-Jul-10 14-Jul-10 16-Jul-10 30-Jul-10 F
7. Sonny Kolana *) 2010 30.00 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
*) Independent Commissioners 2011 31.50 08-Jun-12 11-Jun-12 13-Jun-12 27-Jun-12 F
2012 18.00 19-Feb-13 20-Feb-13 22-Feb-13 28-Feb-13 I
BOARD OF DIRECTORS 2012 34.50 25-Jun-13 26-Jun-13 28-Jun-13 12-Jul-13 F
1. Marlia Hayati Goestam 2013 12.50 11-Oct-13 16-Oct-13 18-Oct-13 25-Oct-13 I
2. Alex Espenilla Manlapas 2013 22.00 23-Jun-14 24-Jun-14 26-Jun-14 10-Jul-14 F
3. Andre Rajagukguk 2015 30.00 14-Sep-15 15-Sep-15 17-Sep-15 08-Oct-15 I
4. Angelito Celso C. Rancho 2015 35.00 01-Jun-16 02-Jun-16 06-Jun-16 24-Jun-16 F
5. Carlos Olivares Nava 2017 35.00 24-Aug-17 25-Aug-17 29-Aug-17 15-Sep-17 I
6. Jose Sumpaico Romana 2017 70.00 15-May-18 16-May-18 18-May-18 06-Jun-18 F
7. Roen Libarnes De Leon
8. Yustina Endang Setyowati ISSUED HISTORY
Listing Trading
AUDIT COMMITTEE No. Type of Listing Shares Date Date
1. Sonny Kolana 1. First Issue 10,000,000 11-Nov-94 11-Nov-94
2. Francis B. Tupue 2. Company Listing 20,670,000 11-Nov-94 11-Nov-94
3. Gilbert V. Aguillon 3. Convertible Bond 580,000 21-Nov-94 11-Jun-95
4. Stock Split 31,250,000 12-Oct-95 12-Oct-95
CORPORATE SECRETARY 5. Bonus Shares 62,500,000 26-Oct-95 26-Oct-95
Widya Olivia Tobing 6. Right Issue 15,000,000 03-May-96 03-May-96
7. Right Issue 420,000,000 03-Jul-98 03-Jul-98
HEAD OFFICE 8. Stock Split 560,000,000 12-Nov-10 12-Nov-10
South Quarter, Tower C, floor 18-19
Jl. R.A. Kartini Kav. 8
Jakarta 12430
Phone : (021) 2276-8000
Fax : (021) 2276-8016
Homepage : www.darya-varia.com
Email : info@darya-varia.com


TRADING ACTIVITIES
Darya-Varia Laboratoria Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
2,400 4.80 Jan-14 2,250 2,000 2,070 137 757 1,592 19
Feb-14 2,150 2,000 2,080 95 190 390 15
2,100 4.20 Mar-14 2,180 2,030 2,030 94 157 330 17
Apr-14 2,750 2,010 2,050 373 611 1,373 19
May-14 2,175 2,005 2,105 264 355 732 18
1,800 3.60
Jun-14 2,120 1,915 1,925 111 223 455 16
Jul-14 2,065 1,925 1,985 34 76 153 6
1,500 3.00
Aug-14 2,095 1,710 1,860 44 68 130 14
Sep-14 1,880 1,510 1,550 91 4,217 8,809 19
1,200 2.40
Oct-14 1,800 1,350 1,650 53 190 303 11
Nov-14 1,810 1,480 1,550 139 481 743 13
900 1.80 Dec-14 1,725 1,500 1,690 88 49 77 15
600 1.20 Jan-15 1,695 1,450 1,560 111 130 201 15

Feb-15 1,560 1,360 1,500 70 54 79 12
300 0.60 Mar-15 2,160 1,410 1,810 83 78 124 15
Apr-15 1,840 1,350 1,780 123 147 238 9
May-15 1,880 1,500 1,790 108 86 151 12
Jun-15 1,810 1,600 1,695 98 56 95 14
Jul-15 1,790 1,550 1,560 62 71 115 12
Aug-15 1,675 1,300 1,450 56 212 309 13
Sep-15 1,590 1,310 1,315 51 36 50 11
Closing Price*, Jakarta Composite Index (IHSG) and Oct-15 1,475 1,405 1,450 25 324 456 10
Consumer Goods Industry Index Nov-15 1,450 1,350 1,400 38 80 112 8
January 2014 - July 2018 Dec-15 1,400 1,165 1,300 27 3,699 5,319 13
80%
Jan-16 1,350 1,175 1,290 26 52 65 11
60% Feb-16 1,310 1,210 1,230 51 141 178 9
Mar-16 1,300 1,160 1,235 1,080 2,379 2,866 21
40% 37.2% Apr-16 1,500 1,205 1,500 211 690 940 19
34.3% May-16 1,550 1,450 1,500 114 179 267 16
20% Jun-16 1,560 1,425 1,500 87 151 225 15
Jul-16 1,590 1,500 1,560 79 107 163 14
Aug-16 1,800 1,525 1,660 167 379 613 18
-
Sep-16 1,660 1,570 1,655 45 142 226 16
-14.7% Oct-16 1,655 1,560 1,650 47 48 78 11
-20%
Nov-16 1,685 1,540 1,650 89 578 939 14
Dec-16 1,790 1,650 1,755 70 80 138 17
-40%
Jan-17 1,800 1,700 1,790 76 171 292 17

-60% Feb-17 1,710 1,690 1,690 42 108 183 12
Mar-17 1,800 1,650 1,700 82 194 323 13
-80% Apr-17 1,770 1,720 1,770 10 9 15 4
Jan 14 Jan 15 Jan 16 Jan 17 Jan 18 May-17 2,260 1,790 2,080 240 297 618 17
Jun-17 2,140 2,000 2,100 91 246 510 15
Jul-17 2,150 2,000 2,030 68 194 399 16
SHARES TRADED 2014 2015 2016 2017 Jul-18 Aug-17 2,070 1,950 2,000 88 213 429 15
Volume (Million Sh.) 7 5 5 2 2 Sep-17 2,030 1,880 1,880 74 109 209 15
Value (Billion Rp) 15 7 7 4 4 Oct-17 2,040 1,890 1,950 71 162 313 11
Frequency (Thou. X) 2 0.9 2 1 1 Nov-17 2,040 1,900 1,950 78 93 181 15
Days 182 144 181 166 114 Dec-17 1,990 1,910 1,960 108 208 384 16
Price (Rupiah) Jan-18 2,050 1,945 1,960 127 282 559 18

High 2,750 2,160 1,800 2,260 2,150 Feb-18 2,080 1,940 1,990 124 259 511 14
Low 1,350 1,165 1,160 1,650 1,850 Mar-18 2,150 1,900 1,995 407 704 1,411 21
Close 1,690 1,300 1,755 1,960 1,920 Apr-18 2,090 1,900 1,960 144 131 257 19
Close* 1,690 1,300 1,755 1,960 1,920 May-18 2,000 1,850 1,920 173 227 441 18
Jun-18 1,925 1,860 1,920 101 225 428 12
PER (X) 18.24 13.49 10.73 9.55 9.93 Jul-18 1,970 1,900 1,920 43 41 79 12
PER Industry (X) 24.22 17.71 23.77 18.48 20.01
PBV (X) 1.97 1.50 1.84 1.95 1.87


BALANCE SHEET Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
Receivables 377,105 351,273 398,511 461,789 478,940

206,682 227,050 198,658 209,778 203,862 1,400
Inventories
Current Assets 913,984 925,294 1,043,830 1,068,967 1,175,656
1,050
Fixed Assets 243,055 267,040 258,265 404,599 395,989
Other Assets 2,419 2,674 3,256 1,862 2,241
700
Total Assets 1,190,054 1,236,248 1,376,278 1,531,366 1,640,886
Growth (%) 3.88% 11.33% 11.27% 7.15% 350
Current Liabilities 215,473 178,583 296,298 374,428 441,623 -

Long Term Liabilities 59,878 95,233 106,463 77,358 82,963 2013 2014 2015 2016 2017
Total Liabilities 275,351 273,816 402,761 451,786 524,586
Growth (%) -0.56% 47.09% 12.17% 16.11%
1,080
Paid up Capital 280,000 280,000 280,000 280,000 280,000
962 974
1,116
Paid up Capital (Shares) 1,120 1,120 1,120 1,120 1,120 915
Par Value 250 250 250 250 250

889
Retained Earnings 556,874 613,164 642,829 755,855 806,512

Total Equity 914,703 962,431 973,517 1,079,580 1,116,300
661
Growth (%) 5.22% 1.15% 10.89% 3.40% 433
INCOME STATEMENTS Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 205
Total Revenues 1,101,684 1,103,822 1,306,098 1,451,357 1,575,647

Growth (%) 0.19% 18.33% 11.12% 8.56%
-22
2013 2014 2015 2016 2017
Cost of Revenues 441,028 518,602 628,365 649,919 681,691

Gross Profit 660,656 585,220 677,733 801,438 893,956
Expenses (Income) 493,577 490,749 550,995 597,805 673,990
Operating Profit 167,079 94,471 126,738 203,632 219,966 1,576
1,451
Growth (%) -43.46% 34.16% 60.67% 8.02%
1,576
1,306
1,254
1,102 1,104
Other Income (Expenses) 8,678 11,396 17,699 10,785 6,182
Income before Tax 175,757 105,866 144,438 214,417 226,148 933
Tax 49,960 24,937 36,543 62,334 63,899

Profit for the period 125,796 80,929 107,894 152,083 162,249 611
Growth (%) -35.67% 33.32% 40.96% 6.68%

290
Period Attributable 125,796 80,929 107,894 152,083 162,249 -32
Comprehensive Income 125,796 80,929 104,177 145,120 148,313 2013 2014 2015 2016 2017
RATIOS Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 PROFIT FOR THE PERIOD (Bill. Rp)
Current Ratio (%) 424.18 518.13 352.29 285.49 266.21
162
Dividend (Rp) 34.50 - 65.00 - 105.00 162
152
EPS (Rp) 112.32 72.26 96.33 135.79 144.87 126

BV (Rp) 816.70 859.31 869.21 963.91 996.70 129
108
DAR (X) 0.23 0.22 0.29 0.30 0.32
81
DER(X) 0.30 0.28 0.41 0.42 0.47
96
ROA (%) 10.57 6.55 7.84 9.93 9.89 63
ROE (%) 13.75 8.41 11.08 14.09 14.53

GPM (%) 59.97 53.02 51.89 55.22 56.74 30
OPM (%) 15.17 8.56 9.70 14.03 13.96

NPM (%) 11.42 7.33 8.26 10.48 10.30
-3
2013 2014 2015 2016 2017

Payout Ratio (%) 30.72 - 67.47 - 72.48
Yield (%) 1.57 - 5.00 - 5.36

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ELSA
ELNUSA TBK.
Company Profile
PT Elnusa Tbk. was established under the original name of PT Electronika Nusantara on January 25 th, 1969.
In accordance with the Company’s Articles of Association, the scope of its activities is to provide services,
trading, mining, construction and industry. The Company started its commercial operations in September
1969.
Currently, the Company is engaged in upstream oil and gas services and investing in shares of stock in
Subsidiaries and associates that are engaged in several industries, such as upstream oil and gas support
services and trading, downstream oil and gas services and trading, oil and gas data management and storage
services, oil and gas field asset management and telecommunication services.
The Company also provides goods and services to its Subsidiaries and related parties and providing and
managing office spaces.
The Company has ownership in subsidiaries: PT Elnusa Geosains Indonesia, PT Elnusa Petrofin, PT Patra Nusa
Data, PT Elnusa Oilfield Services, PT Elnusa Patra Ritel, PT Elnusa Fabrikasi Konstruksi, PT Sigma Cipta Utama,
and PT Elnusa Trans Samudera.
PT Elnusa Tbk is committed to becoming a company capable of providing with the best and integrated
services in total solutions to the community. Therefore the company always seeks to offer quality services,
reliable infrastructures, and efficient and knowledge-based technology. For this reason, the company
maintains integrity in each of its decision-making by means of self-appreciation, and appreciation to its
customers, suppliers and competitors.
PT Elnusa Tbk takes high care on quality of products and services. The company's reliable infrastructure and
commitment to efficiency in all of its business lines and activities has become a capital in materializing all the
company's products and services.
The total number of employees 1,839 employees (1,427 permanent employees and 412 contractual
employees) at June 30th, 2018.
August 2018
Disclaimer:

ELSA Elnusa Tbk.

Industry Sub Sector : Crude Petroleum & Natural Gas Production (22) Market Capitalization : 2,598,266,000,000
250 | 2.60T | 0.04% | 95.85%
58 | 9.05T | 0.45% | 77.42%

Established Date : 25-Jan-1969 1. PT Pertamina (Persero) 3,000,000,000 : 41.10%
Listing Date : 06-Feb-2008 2. DP Pertamina Inhouse 3 1,087,407,500 : 14.90%
PT Mandiri Sekuritas (Affiliated)
F/I
BOARD OF COMMISSIONERS 2007 2.74 06-Jun-08 09-Jun-08 11-Jun-08 25-Jun-08 F
1. Gigih Prakoso 2008 3.72 09-Jun-09 10-Jun-09 12-Jun-09 25-Jun-09 F
2. Lusiaga Levi Susiala *) 2009 20.00 07-Jan-10 08-Jan-10 12-Jan-10 26-Jan-10 I
3. Narendra Widjajanto 2009 25.00 28-Jul-10 29-Jul-10 02-Aug-10 16-Aug-10 F
4. Pradana Ramadhian G. *) 2010 2.66 01-Jul-11 04-Jul-11 06-Jul-11 20-Jul-11 F
5. Yudo Irianto 2012 1.76 15-May-13 16-May-13 20-May-13 30-May-13 F
2014 39.56 07-May-15 08-May-15 12-May-15 03-Jun-15 F
BOARD OF DIRECTORS 2016 4.26 29-May-17 30-May-17 02-Jun-17 22-Jun-17 F
1. Tolingul Anwar 2017 5.08 21-May-18 22-May-18 24-May-18 08-Jun-18 F
2. Elizar Parlindungan Hasibuan
3. RM Happy Paringhadi Js ISSUED HISTORY
Listing Trading
AUDIT COMMITTEE No. Type of Listing Shares Date Date
1. Pradana Ramadhian G. 1. First Issue 1,460,000,000 06-Feb-08 06-Feb-08
2. Eddy Rachmadi 2. Company Listing 5,838,500,000 06-Feb-08 06-Feb-08
3. Reynold M Batubara
CORPORATE SECRETARY
Fajriyah Usman
HEAD OFFICE
Graha Elnusa
Jl. T.B. Simatupang Kav. 1B
Jakarta 12560
Phone : (021) 7883-0850
Fax : (021) 7883-0970
Homepage : www.elnusa.co.id
Email : corporate@elnusa.co.id

ELSA Elnusa Tbk.

TRADING ACTIVITIES
Elnusa Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
740 2,400 Jan-14 409 330 406 7,104 347,776 128,188 20
Feb-14 436 377 434 9,570 725,489 296,556 20
648 2,100 Mar-14 490 419 490 13,451 2,552,970 1,037,737 20
Apr-14 525 482 510 15,597 922,984 446,972 20
May-14 585 472 575 20,529 1,612,126 769,830 18
555 1,800
Jun-14 690 530 635 22,230 1,408,590 825,319 21
Jul-14 695 565 670 24,462 1,035,700 655,180 18
463 1,500
Aug-14 740 640 680 18,900 438,407 305,645 20
Sep-14 690 615 630 19,665 446,000 288,156 22
370 1,200
Oct-14 640 515 520 34,648 861,094 485,508 23
Nov-14 685 482 670 59,886 2,156,892 1,251,481 20
278 900 Dec-14 720 595 685 33,319 1,576,961 1,038,456 20
185 600 Jan-15 685 565 570 26,794 668,291 413,733 21

Feb-15 630 550 565 26,680 684,386 404,784 19
93 300 Mar-15 610 505 530 29,110 857,374 489,370 22
Apr-15 610 520 595 24,824 858,950 497,547 21
May-15 640 560 560 20,803 743,632 458,936 19
Jun-15 570 477 484 18,922 342,406 175,476 21
Jul-15 498 381 386 18,024 313,551 143,116 19
Aug-15 401 233 291 52,370 862,040 265,897 20
Sep-15 449 284 334 67,875 1,161,431 438,049 21
Mining Index Nov-15 356 278 278 34,690 743,079 243,057 21
January 2014 - July 2018 Dec-15 304 239 247 30,772 514,644 143,827 19
125%
Jan-16 250 173 230 57,762 1,524,894 320,229 20
100% Feb-16 292 191 277 82,108 2,891,814 691,607 20
Mar-16 384 272 333 71,646 2,379,752 800,686 21
75% Apr-16 535 314 493 136,845 4,720,249 2,065,680 21
May-16 610 456 595 69,924 2,363,640 1,239,040 20
50% Jun-16 620 496 515 46,281 1,311,936 727,454 22
49.0%
Jul-16 555 484 535 31,621 1,420,032 703,399 16
37.2%
Aug-16 575 486 500 48,607 1,842,786 969,841 22
25%
Sep-16 505 418 456 53,164 1,821,558 834,180 21
6.3% Oct-16 520 448 454 68,069 1,795,309 870,430 21
-
Nov-16 474 398 424 54,894 1,076,084 469,678 22
Dec-16 486 418 420 55,729 1,388,009 633,629 20
-25%
Jan-17 472 422 432 37,880 974,320 432,608 21

-50% Feb-17 444 406 428 35,141 832,788 355,184 19
Mar-17 432 378 388 32,594 644,687 258,250 22
-75% Apr-17 450 372 378 46,014 1,352,645 546,604 17
Jan 14 Jan 15 Jan 16 Jan 17 Jan 18 May-17 382 300 308 49,039 2,025,776 706,747 20
Jun-17 314 272 274 22,068 495,562 146,051 15
Jul-17 296 268 268 27,246 818,286 230,146 21
SHARES TRADED 2014 2015 2016 2017 Jul-18 Aug-17 282 246 254 47,323 1,679,074 438,985 22
Volume (Million Sh.) 14,085 8,569 24,536 20,791 10,512 Sep-17 324 226 304 90,084 3,698,483 1,064,142 19
Value (Billion Rp) 7,529 3,979 10,326 7,156 4,568 Oct-17 342 294 308 57,946 2,074,776 660,750 22
Frequency (Thou. X) 279 405 777 609 419 Nov-17 420 300 376 103,503 4,259,353 1,606,805 22
Days 242 244 246 238 138 Dec-17 396 330 372 60,265 1,934,981 709,245 18
Price (Rupiah) Jan-18 466 372 426 89,765 3,076,560 1,296,141 22

High 740 685 620 472 540 Feb-18 540 388 505 76,853 2,563,833 1,184,441 19
Low 330 233 173 226 290 Mar-18 525 438 466 45,132 1,002,152 485,280 21
Close 685 247 420 372 356 Apr-18 510 400 422 60,632 1,458,882 683,555 21
Close* 685 247 420 372 356 May-18 458 402 410 50,585 852,382 364,982 20
Jun-18 412 328 336 31,733 519,957 195,018 13
PER (X) 13.01 4.80 12.92 10.99 10.18 Jul-18 380 290 356 64,746 1,038,189 358,252 22
PER Industry (X) 3.23 0.60 -4.41 6.26 6.85
PBV (X) 2.04 0.68 1.12 0.89 0.82

ELSA Elnusa Tbk.

Cash & Cash Equivalents 1,060,151 934,968 744,387 902,563 647,487 6,250
Receivables 930,446 790,000 713,885 1,258,525 1,437,535

114,830 127,890 130,532 96,508 149,283 5,000
Inventories
Current Assets 2,236,668 2,079,319 1,865,116 2,379,465 2,406,798
3,750
Fixed Assets 1,239,721 1,480,580 1,592,311 1,569,071 1,525,682
Other Assets 27,262 54,111 35,545 39,068 39,834
2,500
Total Assets 4,245,704 4,407,513 4,190,956 4,855,369 5,258,508
Growth (%) 3.81% -4.91% 15.85% 8.30% 1,250

Long Term Liabilities 284,397 323,742 59,032 45,668 247,040 2014 2015 2016 2017 Jun-18
Growth (%) 6.59% -25.90% 37.33% 16.52%
3,052
Paid up Capital 729,850 729,850 729,850 729,850 729,850 3,157
2,878
2,583 2,635
Par Value 100 100 100 100 100
2,513

Total Equity 2,582,996 2,635,186 2,877,743 3,051,920 3,157,065
1,869
Growth (%) 2.02% 9.20% 6.05% 3.45% 1,225
INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Jun-18 581
Total Revenues 4,221,172 3,775,323 3,620,570 4,978,986 2,916,732

Growth (%) -10.56% -4.10% 37.52%
-63
2014 2015 2016 2017 Jun-18
Cost of Revenues 3,461,359 3,056,513 3,005,985 4,400,484 2,612,667

Gross Profit 759,813 718,810 614,585 578,502 304,065
Expenses (Income) 200,112 205,789 189,112 241,693 138,812
Operating Profit - - - - - 4,979
Growth (%)
4,979
4,221
3,963
3,775 3,621
2,917
Income before Tax 559,701 513,021 425,473 336,809 165,253 2,948
Tax 141,609 133,276 7,155 10,443 37,587

Profit for the period 418,092 379,745 316,066 250,754 127,666 1,932
Growth (%) -9.17% -16.77% -20.66%

916
Period Attributable 412,428 375,364 310,911 247,140 127,663 -100
Comprehensive Income 418,092 375,831 318,798 238,473 143,221 2014 2015 2016 2017 Jun-18
Current Ratio (%) 162.28 143.54 148.71 135.37 129.79
418
Dividend (Rp) 39.56 - 4.26 5.08 - 418
380
EPS (Rp) 56.51 51.43 42.60 33.86 17.49
316
BV (Rp) 353.91 361.06 394.29 418.16 432.56 333
DAR (X) 0.39 0.40 0.31 0.37 0.40 251
DER(X) 0.64 0.67 0.46 0.59 0.67

248
ROA (%) 9.85 8.62 7.54 5.16 2.43 162

128
ROE (%) 16.19 14.41 10.98 8.22 4.04
GPM (%) 18.00 19.04 16.97 11.62 10.42 77
OPM (%) - - - - -
NPM (%) 9.90 10.06 8.73 5.04 4.38
-8
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 70.00 - 10.00 15.00 -
Yield (%) 5.77 - 1.01 1.37 -

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EXCL
XL AXIATA TBK.
Company Profile
Initially starting business as a trading and general services, PT XL Axiata Tbk. established on 6 October 1989
under the name of PT Grahametropolitan Lestari. In 1996, The company entered the telecommunications field
after obtaining a GSM 900 operating license and officially launching its GSM services, becoming the first private
company in Indonesia to provide cellular mobile telephony services.
Looking forward to 2020, XL Axiata’s direction in the digital and telecommunications industry will not be just as
a digital enabler but as a digital partner, with firm social ties between consumers, the business world and the
industry. The aspiration to become a digital partner means XL Axiata’s orientation is to provide solutions to
improve better conditions for the public and the business world.
Currently, the majority of the company’s shares are owned by Axiata through Axiata Investments (Indonesia)
Sdn. Bhd. (66.4%) and the remaining is held by the public (33.6%).
In 2017 the company received awards: XL Axiata received Telecom Asia Award 2017 in “The Best Community
Telecom Project” category for its XL Xmart Village 3.0 program, XL Axiata received Indonesia Corporate Social
Responsibility Awards 2017 from Majalah Indonesia, Asia Institute, Economic Review, and Ideku Group. The
Company attained First Rank in Telecommunication category, XL Axiata was recognized as the Winner of
Indonesia Most Innovative Awards 2017 for Telecommunication category in the “Indonesia Most Innovative
Business Award 2017” event, XL Axiata was again recognized in the reputable Obsession Awards 2017 organized
by Obsession Media Group (OMG), Outstanding Corporate Innovator (OCI) Indonesia Award 2017, Annual
Global CSR Summit & Awards and The Global Good Governance Awards 2017, and Indonesia Prestige Brand
Award 2017.
The Company’s head office is currently located at XL Axiata Tower, Jl. HR. Rasuna Said X5 Kav. 11- 12, Kuningan
Timur, Setiabudi, Jakarta Selatan 12950. The number of permanent employees as at June 30th, 2018 are 1,671
employees.
August 2018
Disclaimer:

EXCL XL Axiata Tbk.

Industry Sector : Infrastructure, Utilities & Transportation (7) Listed Shares : 10,687,960,423
Industry Sub Sector : Telecommunication (73) Market Capitalization : 29,391,891,163,250
38 | 29.4T | 0.44% | 68.16%
55 | 9.75T | 0.49% | 76.02%

Established Date : 06-Oct-1989 1. Axiata Investments (Indonesia) Sdn. Bhd. 7,092,656,612 : 66.36%
Listing Date : 29-Sep-2005 2. Public (<5%) 3,595,303,811 : 33.64%
Underwriter IPO :
CIMB Niaga Securities DIVIDEND ANNOUNCEMENT
GK Goh Indonesia Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2006 7.00 22-May-07 23-May-07 25-May-07 11-Jun-07 I
2007 20.00 28-Apr-08 29-Apr-08 02-May-08 16-May-08 F
1. Muhamad Chatib Basri 2011 129.88 20-Apr-12 23-Apr-12 25-Apr-12 09-May-12 F
2. David Robert Dean 2012 135.00 02-May-13 03-May-13 07-May-13 22-May-13 F
3. Julianto Sidarto 2013 64.00 13-May-14 14-May-14 19-May-14 04-Jun-14 F
4. Kenneth Shen
5. Muliadi Rahardja *) ISSUED HISTORY
6. Peter J. Chambers Listing Trading
7. Tan Sri Jamaludin Ibrahim No. Type of Listing Shares Date Date
8. Vivek Sood 1. First Issue 1,427,500,000 29-Sep-05 29-Sep-05
9. Yasmin Stamboel Wirjawan *) 2. Company Listing 5,662,500,000 29-Sep-05 29-Sep-05
*) Independent Commissioners 3. Right Issue 1,418,000,000 16-Dec-09 16-Dec-09
4. Add. Listing without RI 10,566,332 26-Apr-11 26-Apr-11
BOARD OF DIRECTORS 5. Long Term Incentive Program 7,710,279 16-Apr-12 16-Apr-12
1. Dian Siswarini 6. Long Term Incentive Program 8,214,056 12-Apr-13 12-Apr-13
2. Abhijit Navalekar 7. Long Term Incentive Program 6,891,003 21-Apr-15 21-Apr-15
3. Allan Bonke 8. Long Term Incentive Program 8,986,668 04-Apr-16 04-Apr-16
4. Mohamed Adlan Bin Ahmad Tajudin 9. Right Issue II 103,889,680 25-May-16 25-May-16
5. Yessie D. Yosetya 10. Right Issue II 1,453,844,085 26-May-16 26-May-16
11. Right Issue II 20,855,009 27-May-16 27-May-16
AUDIT COMMITTEE 12. Right Issue II 167,112,008 01-Jun-16 01-Jun-16
1. Yasmin Stamboel Wirjawan
2. Haryanto Thamrin
3. Julianto Sidarto
4. Paul Capelle
CORPORATE SECRETARY
Murni Nurdini
HEAD OFFICE
XL Axiata Tower
Jl. H.R. Rasuna Said Blok X5 Kav. 11-12
Kunungan Timur, Setia Budi, Jakarta Selatan 12950
Phone : (021) 576-1881
Fax : (021) 576-1880
Homepage : www.xl.co.id
Email : corpsec@xl.co.id
murni@xl.co.id

EXCL XL Axiata Tbk.

TRADING ACTIVITIES
XL Axiata Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
7,000 320 Jan-14 5,300 4,850 4,850 22,225 99,350 503,950 20
Feb-14 5,000 4,300 4,650 32,727 103,733 480,312 20
6,125 280 Mar-14 4,550 3,990 4,400 33,592 97,339 421,072 20
Apr-14 5,175 4,365 5,175 28,635 305,643 1,568,654 20
May-14 5,575 4,860 5,475 26,302 109,043 573,104 18
5,250 240
Jun-14 5,450 4,900 5,100 28,657 67,767 345,596 21
Jul-14 5,525 5,000 5,400 20,387 53,902 286,216 18
4,375 200
Aug-14 6,025 5,375 5,950 31,608 337,915 1,932,196 20
Sep-14 7,075 5,400 6,200 34,983 190,918 1,228,932 22
3,500 160
Oct-14 6,300 5,125 5,525 32,758 156,530 919,631 23
Nov-14 5,525 4,980 5,100 27,877 126,255 658,998 20
2,625 120 Dec-14 5,150 4,580 4,865 37,529 141,702 691,756 20
1,750 80 Jan-15 5,000 4,300 4,800 47,136 229,930 1,060,346 21

Feb-15 5,225 4,610 4,795 32,949 121,070 593,061 19
875 40 Mar-15 4,800 4,175 4,350 49,816 230,600 1,018,405 22
Apr-15 4,450 3,905 4,035 37,660 195,169 838,312 21
May-15 4,350 3,800 4,290 29,621 100,898 407,344 19
Jun-15 4,460 3,650 3,685 31,254 164,023 677,856 21
Jul-15 3,710 2,750 2,965 35,973 141,421 452,658 19
Aug-15 3,120 2,340 3,000 40,431 130,973 374,144 20
Sep-15 3,000 2,240 2,615 27,068 96,437 238,542 21
Infrastructure, Utilities and Transportation Index Nov-15 3,900 2,975 3,460 35,281 106,369 369,303 21
January 2014 - July 2018 Dec-15 4,005 3,500 3,650 43,055 153,235 576,473 19
80%
Jan-16 3,860 3,290 3,675 47,353 114,613 409,075 20
60% Feb-16 4,150 3,590 3,900 61,342 206,204 808,969 20
Mar-16 4,275 3,840 4,000 44,334 138,315 559,520 21
40% Apr-16 4,010 3,440 3,520 40,185 78,577 298,065 21
37.2%
May-16 3,550 3,150 3,530 47,703 342,007 1,139,950 20
20% Jun-16 3,920 3,400 3,670 49,695 256,584 944,220 22
Jul-16 3,950 3,540 3,710 48,090 253,208 948,865 16
9.9%
Aug-16 3,800 2,680 2,840 85,722 545,675 1,743,794 22
-
Sep-16 2,960 2,460 2,700 75,887 422,146 1,137,173 21
Oct-16 2,790 2,150 2,200 46,355 315,819 779,250 21
-20%
Nov-16 2,620 2,030 2,300 66,798 388,759 893,538 22
Dec-16 2,400 2,180 2,310 33,998 124,490 286,063 20
-40%
-45.9%
Jan-17 2,980 2,250 2,910 36,546 206,007 557,924 21
-60% Feb-17 3,250 2,780 2,990 39,289 221,355 670,805 19
Mar-17 3,310 2,810 3,060 43,717 192,125 592,123 22
-80% Apr-17 3,270 2,900 3,210 31,037 97,559 298,121 17
Jun-17 3,500 2,970 3,410 41,683 151,385 497,833 15
Jul-17 3,410 3,110 3,360 37,373 148,190 484,910 21
Days 242 244 246 238 138 Dec-17 3,150 2,810 2,960 36,156 169,244 500,111 18
Price (Rupiah) Jan-18 3,380 2,850 2,990 53,360 151,553 472,626 22

High 7,075 5,225 4,275 4,060 3,380 Feb-18 3,040 2,810 2,950 50,414 157,842 466,331 19
Low 3,990 2,240 2,030 2,250 1,710 Mar-18 2,980 2,420 2,520 41,687 204,124 544,564 21
Close 4,865 3,650 2,310 2,960 2,750 Apr-18 2,840 2,040 2,120 45,031 190,040 467,623 21
Close* 4,799 3,600 2,310 2,960 2,750 May-18 2,460 1,710 2,100 103,273 1,168,066 2,362,060 20
Jun-18 2,910 2,160 2,520 83,138 474,977 1,212,677 13
PER (X) -34.55 -1,230.41 115.94 84.31 -179.79 Jul-18 3,070 2,300 2,750 64,837 351,440 942,843 22
PER Industry (X) 20.04 9.49 8.16 16.02 12.90
PBV (X) 2.97 2.21 1.18 1.46 1.36

EXCL XL Axiata Tbk.

Receivables 264,902 1,285,195 662,711 808,753 715,574

77,237 78,979 161,078 143,303 157,501 60,000
Inventories
Current Assets 13,309,762 10,151,586 6,806,863 7,180,742 6,751,800
45,000
Fixed Assets 35,859,030 33,426,750 33,182,920 34,933,877 36,015,153
Other Assets 412,648 415,666 353,402 277,396 251,084
30,000
Total Assets 63,706,488 58,844,320 54,896,286 56,321,441 56,377,650
Growth (%) -7.63% -6.71% 2.60% 0.10% 15,000

Growth (%) -10.04% -24.73% 2.98% 0.41%
Authorized Capital 2,265,000 2,265,000 2,265,000 2,265,000 2,265,000 21,631 21,546
21,209
Paid up Capital 853,449 854,138 1,068,796 1,068,796 1,068,796 21,631

Par Value 100 100 100 100 100
17,218
13,961 14,092
Total Equity 13,960,625 14,091,635 21,209,145 21,630,850 21,546,087
12,805
Growth (%) 0.94% 50.51% 1.99% -0.39% 8,393
Total Revenues 23,460,015 22,876,182 21,341,425 22,875,662 11,046,042

Growth (%) -2.49% -6.71% 7.19%
-433
2014 2015 2016 2017 Jun-18
Cost of Revenues - - - - -
Gross Profit 23,460,015 22,876,182 21,341,425 22,875,662 11,046,042
Expenses (Income) 23,031,603 19,736,905 19,654,551 19,575,862 10,430,156
Operating Profit 428,412 3,139,277 - - 615,886 23,460 22,876 22,876
21,341
Growth (%) 632.77% -100.00%
23,460
18,674
Other Income (Expenses) -1,498,198 -3,769,803 -1,501,293 -1,437,023 -771,075

Income before Tax -1,069,786 -630,526 185,581 221,238 -155,189
11,046
13,888
Tax 178,723 -605,188 -189,935 -154,006 -73,448

Profit for the period -891,063 -25,338 375,516 375,244 -81,741 9,102
Growth (%) 97.16% N/A -0.07%

4,317
Period Attributable -891,063 -25,338 375,516 375,244 -81,741 -469
Comprehensive Income -917,315 7,871 396,549 403,443 -87,415 2014 2015 2016 2017 Jun-18
Comprehensive Attributable -917,315 7,871 396,549 403,443 -87,415
Current Ratio (%) 86.44 64.46 47.02 47.16 38.61
376 375
Dividend (Rp) - - - - - 376
EPS (Rp) -104.41 -2.97 35.13 35.11 -7.65

BV (Rp) 1,635.79 1,649.81 1,984.40 2,023.85 2,015.92 122
2014 2015 Jun-18

DAR (X) 0.78 0.76 0.61 0.62 0.62
-25 2016 2017
DER(X) 3.56 3.18 1.59 1.60 1.62
-131
-82
ROA (%) -1.40 -0.04 0.68 0.67 -0.14 -384
ROE (%) -6.38 -0.18 1.77 1.73 -0.38

GPM (%) 100.00 100.00 100.00 100.00 100.00 -638
OPM (%) 1.83 13.72 - - 5.58

NPM (%) -3.80 -0.11 1.76 1.64 -0.74
-891
-891
Yield (%) - - - - -

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
Suryaduta Investama is the Company’s ultimate parent.
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. Gudang Garam
operates an in house printing facility and five subsidiaries which have commenced commercial
operations:
 Surya Pamenang, producing paperboard for Gudang Garam packaging

 Surya Madistrindo, sole distributor of the company’s products
 Surya Air and Galaxy Prime providing non-scheduled air transport services
 Graha Surya Media, engaged in entertainment services
The Company’s Head Office is at Jln. Semampir II/1, Kediri, East Java, and its plants are located in Kediri,
Gempol, Karanganyar and Sumenep. 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, East Java.
As of the end of June 30th, 2018, the Company and subsidiaries had 34,222 employees.
August 2018
Disclaimer:

GGRM Gudang Garam Tbk.

Industry Sub Sector : Tobacco Manufacturers (52) Market Capitalization : 144,595,213,200,000
8 | 144.6T | 2.16% | 42.17%
25 | 19.9T | 1.00% | 55.93%

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%
Underwriter IPO : 3. Public (<5%) 470,498,500 : 24.45%
PT Danareksa Sekuritas
PT Finconesia DIVIDEND ANNOUNCEMENT
F/I
1990 150.00 12-Jul-91 15-Jul-91 20-Jul-91 09-Aug-91 F
BOARD OF COMMISSIONERS 1992 150.00 22-Jul-93 23-Jul-93 30-Jul-93 23-Aug-93 F
1. Juni Setiawati Wonowidjojo 1993 155.00 06-Jul-94 07-Jul-94 14-Jul-94 13-Aug-94 F
2. Frank Willem Van Gelder *) 1994 210.00 05-Jul-95 06-Jul-95 14-Jul-95 14-Aug-95 F
3. Gotama Hengdratsonata *) 1995 1:1 25-Apr-96 26-Apr-96 06-May-96 03-Jun-96 BS
4. Lucas Mulia Suhardja 1995 75.00 16-Jul-96 17-Jul-96 25-Jul-96 19-Aug-96 F
1997 120.00 03-Jul-98 07-Jul-98 15-Jul-98 13-Aug-98 F
BOARD OF DIRECTORS 1998 260.00 05-Jul-99 06-Jul-99 14-Jul-99 11-Aug-99 F
1. Susilo Wonowidjojo 1999 500.00 06-Jul-00 07-Jul-00 17-Jul-00 31-Jul-00 F
2. Buana Susilo 2000 500.00 27-Nov-00 28-Nov-00 05-Dec-00 19-Dec-00 I
3. Herry Susianto 2001 300.00 02-Jul-02 03-Jul-02 08-Jul-02 19-Jul-02 F
4. Heru Budiman 2002 300.00 27-Jun-03 30-Jun-03 02-Jul-03 11-Jul-03 F
5. Istata Taswin Siddharta 2003 300.00 16-Jul-04 19-Jul-04 21-Jul-04 04-Aug-04 F
6. Lengga Nurullah 2004 500.00 21-Jul-05 22-Jul-05 26-Jul-05 08-Aug-05 F
7. Sony Sasono Rahmadi 2005 500.00 21-Jul-06 24-Jul-06 26-Jul-06 07-Aug-06 F
2006 250.00 23-Jul-07 24-Jul-07 26-Jul-07 09-Aug-07 F
AUDIT COMMITTEE 2007 250.00 15-Jul-08 16-Jul-08 18-Jul-08 01-Aug-08 F
1. Gotama Hengdratsonata 2008 350.00 14-Jul-09 15-Jul-09 17-Jul-09 30-Jul-09 F
2. Chetryana Gunardi 2009 650.00 13-Jul-10 14-Jul-10 16-Jul-10 29-Jul-10 F
3. Tony Gunawan 2010 880.00 25-Jul-11 26-Jul-11 28-Jul-11 08-Aug-11 F
2011 1,000.00 30-Jul-12 31-Jul-12 02-Aug-12 16-Aug-12 F
CORPORATE SECRETARY 2012 800.00 22-Jul-13 23-Jul-13 25-Jul-13 15-Aug-13 F
Heru Budiman 2013 800.00 06-Aug-14 07-Aug-14 11-Aug-14 25-Aug-14 F
2014 800.00 03-Jul-15 06-Jul-15 08-Jul-15 30-Jul-15 F
HEAD OFFICE 2015 2,600.00 28-Jun-16 29-Jun-16 01-Jul-16 22-Jul-16 F
Jl. Jend. A. Yani No. 75-79 2016 2,600.00 03-Jul-17 04-Jul-17 06-Jul-17 19-Jul-17 F
Jakarta 10510 2017 2,600.00 03-Jul-18 04-Jul-18 06-Jul-18 26-Jul-18 F
Phone : (021) 2955-7000 ISSUED HISTORY

Fax : (021) 2955-7009 Listing Trading
Homepage : www.gudanggaramtbk.com No. Type of Listing Shares Date Date
Email : corporate_secretary@gudanggaramtbk.com 1. First Issue 57,807,800 27-Aug-90 27-Aug-90
2. Partial Listing 38,396,600 27-Aug-90 27-Feb-91
3. Founder Shares 375,197,600 31-May-94 31-May-94
4. Koperasi 9,620,000 31-May-94 00-Jan-00
5. Stock Split 481,022,000 03-Jun-96 03-Jun-96
6. Bonus Shares 962,044,000 04-Jun-96 05-Jun-96


TRADING ACTIVITIES
Gudang Garam Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
100,000 16.0 Jan-14 45,525 39,700 41,900 36,083 31,659 1,343,558 20
Feb-14 48,500 40,600 47,700 32,197 27,944 1,265,725 20
87,500 14.0 Mar-14 49,550 43,600 49,400 45,202 30,887 1,455,094 20
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
75,000 12.0
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
62,500 10.0
Aug-14 55,900 52,925 54,000 28,021 15,965 868,891 20
Sep-14 57,050 53,750 56,675 31,266 18,150 1,012,034 22
50,000 8.0
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
37,500 6.0 Dec-14 61,525 57,100 60,700 24,515 12,653 757,153 20
25,000 4.0 Jan-15 64,000 51,900 57,800 51,790 31,660 1,822,015 21

Feb-15 58,500 53,400 53,425 34,568 20,001 1,112,549 19
12,500 2.0 Mar-15 55,325 47,525 51,000 46,689 28,926 1,510,900 22
Apr-15 54,650 49,025 50,000 49,629 33,822 1,754,518 21
May-15 50,600 44,750 47,100 58,307 34,542 1,620,711 19
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
Aug-15 49,875 41,000 44,500 35,432 17,485 776,131 20
Sep-15 44,500 39,500 42,000 30,568 13,048 548,579 21
Consumer Goods Industry Index Nov-15 52,650 42,925 48,900 62,483 33,338 1,609,672 21
January 2014 - July 2018 Dec-15 55,000 48,275 55,000 42,043 26,125 1,352,426 19
105%
Jan-16 59,000 52,550 58,350 48,532 30,319 1,683,368 20
90% Feb-16 67,225 56,300 63,700 51,055 36,430 2,260,534 20
Mar-16 67,375 58,750 65,300 70,197 39,728 2,495,093 21
75% 75.8% Apr-16 72,300 64,200 69,250 57,516 30,735 2,066,825 21
May-16 74,400 67,300 69,200 49,033 24,657 1,738,467 20
60% Jun-16 70,600 62,150 69,000 72,203 46,355 3,057,574 22
Jul-16 77,950 67,525 67,525 84,491 40,981 2,936,952 16
Aug-16 69,650 63,500 64,400 86,929 47,960 3,218,504 22
45%
Sep-16 65,275 59,225 62,000 52,759 30,092 1,902,824 21
37.2%
34.3% Oct-16 67,975 62,500 67,900 49,877 31,931 2,009,656 21
30%
Nov-16 68,400 60,725 65,000 65,177 29,638 1,901,121 22
Dec-16 67,750 60,025 63,900 36,559 19,464 1,265,700 20
15%
Jan-17 65,600 61,750 61,750 30,623 12,128 769,625 21

- Feb-17 66,000 60,050 65,850 39,070 21,477 1,339,524 19
Mar-17 66,900 62,150 65,525 39,752 18,844 1,217,926 22
-15% Apr-17 68,575 63,500 66,400 36,236 15,542 1,022,339 17
Jun-17 80,325 73,200 78,300 36,237 13,843 1,075,711 15
Jul-17 81,300 75,000 76,100 49,236 17,460 1,348,653 21
Volume (Million Sh.) 270 312 408 273 125 Sep-17 69,550 65,500 65,800 50,306 25,176 1,683,983 19
Days 242 244 246 238 138 Dec-17 83,800 77,500 83,800 35,450 13,805 1,104,763 18
Price (Rupiah) Jan-18 86,400 80,000 81,050 47,800 16,441 1,367,066 22

High 64,250 64,000 77,950 83,800 86,400 Feb-18 83,600 78,700 79,750 35,633 16,596 1,341,811 19
Low 39,700 39,500 52,550 60,050 66,125 Mar-18 80,400 69,675 72,475 50,676 23,410 1,743,515 21
Close 60,700 55,000 63,900 83,800 75,150 Apr-18 78,900 67,800 69,325 45,299 16,526 1,221,465 21
Close* 60,700 55,000 63,900 83,800 75,150 May-18 72,000 66,525 68,500 50,280 17,037 1,171,658 20
Jun-18 72,900 66,125 67,250 44,813 18,925 1,309,459 13
PER (X) 21.67 16.44 20.04 22.32 19.11 Jul-18 75,975 66,850 75,150 37,452 15,803 1,120,874 22
PER Industry (X) 24.22 17.71 23.77 18.48 20.01
PBV (X) 3.66 2.78 3.27 4.04 3.28


Receivables 1,532,275 1,568,098 2,089,949 2,229,097 2,493,203

34,739,327 37,255,928 37,545,222 37,920,289 34,718,297 60,000
Inventories
Current Assets 38,532,600 42,568,431 41,933,173 43,764,490 40,478,011
45,000
Fixed Assets 18,973,272 20,106,488 20,498,950 21,408,575 21,171,762
Other Assets 604,404 639,170 381,081 - 664,965
30,000
Total Assets 58,220,600 63,505,413 62,951,634 66,759,930 63,304,028
Growth (%) 9.08% -0.87% 6.05% -5.18% 15,000

Growth (%) 2.02% -8.28% 5.07% -21.77%
42,188
Paid up Capital 962,044 962,044 962,044 962,044 962,044 39,564
38,008
33,229
Par Value 500 500 500 500 500
35,088

Total Equity 33,228,720 38,007,909 39,564,228 42,187,664 44,080,359
26,096
Growth (%) 14.38% 4.09% 6.63% 4.49% 17,103
Total Revenues 65,185,850 70,365,573 76,274,147 83,305,925 21,980,863

Growth (%) 7.95% 8.40% 9.22%
-882
2014 2015 2016 2017 Mar-18
Cost of Revenues 51,806,284 54,879,962 59,657,431 65,084,263 17,567,943

Gross Profit 13,379,566 15,485,611 16,616,716 18,221,662 4,412,920
Expenses (Income) 4,801,910 5,420,744 6,494,678 6,984,409 1,687,078
76,274
Growth (%) 17.34% 0.57% 11.02%
83,306
70,366
65,186
66,312
Other Income (Expenses) -1,371,811 -1,429,592 -1,190,902 -800,741 -194,824

Income before Tax 7,205,845 8,635,275 8,931,136 10,436,512 2,531,018 49,317
Tax 1,810,552 2,182,441 2,258,454 2,681,165 638,323

21,981
Growth (%) 19.60% 3.41% 16.23%
15,328
Comprehensive Income 5,395,293 6,458,516 6,586,081 7,703,622 1,892,695 2014 2015 2016 2017 Mar-18
Current Ratio (%) 162.02 177.04 193.79 193.55 236.45
7,755
Dividend (Rp) 800.00 2,600.00 2,600.00 2,600.00 -
6,673
7,755
EPS (Rp) 2,790.19 3,344.78 3,470.26 4,029.78 983.36 6,453
BV (Rp) 17,269.85 19,753.73 20,562.59 21,926.06 22,909.74 6,173
5,395
DAR (X) 0.43 0.40 0.37 0.37 0.30
DER(X) 0.75 0.67 0.59 0.58 0.44
4,591
ROA (%) 9.27 10.16 10.60 11.62 2.99 3,009
ROE (%) 16.24 16.98 16.87 18.38 4.29 1,893
GPM (%) 20.53 22.01 21.79 21.87 20.08 1,427
OPM (%) 13.16 14.30 13.27 13.49 12.40

NPM (%) 8.28 9.17 8.75 9.31 8.61
-155
2014 2015 2016 2017 Mar-18

Payout Ratio (%) 28.67 77.73 74.92 64.52 -
Yield (%) 1.32 4.73 4.07 3.10 -

C
COOM
MPPA
ANNY
Y R
REEP
POOR
R TT
HMSP
H.M. 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 organized under the name of NVBM Handel Maatschapij Sampoerna. The Company
made a public offering in 1990.
PT Hanjaya Mandala Sampoerna Tbk. (HM Sampoerna) is Indonesia's largest tobacco company controlling
about 33 percent of the Indonesian tobacco market. 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’s Brands: Dji Sam Soe, Sampoerna
Kretek, Sampoerna A, Sampoerna U and Marlboro.
Sampoerna is currently one of the largest listed companies in the Indonesia Stock Exchange. In 2017 the
company received awards: The Best Managed Company Ranked 1st, The Best Issuer 2017 in Cigarette,
Pharmaceutical and Household Sector from Investor Magazine, Sampoerna “Most Improved Brand by
Absolute Value Growth in Indonesia 2017”, Best Process Innovation – Silver Award”, etc.
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 at One Pacific Place, 18th Floor
SCBD, Jl. Jend. Sudirman Kav. 52-53, Jakarta 12190. As of June 30th, 2018, the Company and subsidiaries
(together the “Group”) had 27,374 permanent employees.
August 2018
Disclaimer:

HMSP H.M. Sampoerna Tbk.

Industry Sub Sector : Tobacco Manufacturers (52) Market Capitalization : 446,661,415,296,000
2 | 446.7T | 6.68% | 15.17%
20 | 24.6T | 1.23% | 50.56%

Established Date : 1913 1. PT Philip Morris Indonesia 107,594,221,125 : 92.50%
Listing Date : 15-Aug-1990 2. Public (<5%) 8,723,855,775 : 7.50%
Underwriter IPO :
PT Inter-Pacific Securities DIVIDEND ANNOUNCEMENT
PT Jardine Fleming Nusantara Bonus Cash Recording Payment
F/I
PT Multicor Year Shares Dividend Cum Date Ex Date Date Date
PT PDFCI Securities 2001 25.00 08-Aug-02 09-Aug-02 14-Aug-02 27-Aug-02 F
PT Inter-Pacific 2002 50.00 07-Apr-03 08-Apr-03 10-Apr-03 17-Apr-03 I
PT PDFCI Securities 2002 140.00 21-Jul-03 22-Jul-03 24-Jul-03 07-Aug-03 F
PT Usaha Pembiayaan Pembangunan Indonesia 2003 120.00 18-May-04 19-May-04 24-May-04 31-May-04 F
Securities Administration Bureau : 2003 120.00 18-May-04 19-May-04 24-May-04 31-May-04 I
PT Sirca Datapro Perdana 2003 120.00 26-Jul-04 27-Jul-04 29-Jul-04 09-Aug-04 F
2003 80.00 26-Jul-04 27-Jul-04 29-Jul-04 09-Aug-04 F
BOARD OF COMMISSIONERS 2003 175.00 23-Nov-04 24-Nov-04 26-Nov-04 09-Dec-04 F
1. John Gledhill 2004 175.00 23-Nov-04 24-Nov-04 26-Nov-04 09-Dec-04 I
2. Goh Kok Ho *) 2004 275.00 21-Jul-05 22-Jul-05 26-Jul-05 09-Aug-05 F
3. Niken Kristiawan Rachmad 2005 340.00 13-Oct-05 14-Oct-05 18-Oct-05 27-Oct-05 I
4. RB Permana Agung Dradjattun *) 2005 200.00 30-Jun-06 03-Jul-06 05-Jul-06 19-Jul-06 F
5. Wayan Mertasana Tantra 2005 250.00 15-Sep-06 18-Sep-06 20-Sep-06 04-Oct-06 F
6. Yos Adiguna Ginting 2006 100.00 23-Nov-06 24-Nov-06 28-Nov-06 12-Dec-06 I
2007 150.00 31-Aug-07 03-Sep-07 05-Sep-07 21-Sep-07 I
BOARD OF DIRECTORS 2006 510.00 26-Feb-08 27-Feb-08 29-Feb-08 17-Mar-08 F
1. Mindaugas Trumpaitis 2007 280.00 10-Oct-08 13-Oct-08 15-Oct-08 29-Oct-08 I
2. Elvira Lianita 2007 110.00 06-Mar-09 10-Mar-09 12-Mar-09 25-Mar-09 F
3. Ingo Rose 2008 110.00 02-Dec-09 03-Dec-09 07-Dec-09 22-Dec-09 F
4. Ivan Cahyadi 2009 150.00 08-Feb-10 09-Feb-10 11-Feb-10 25-Feb-10 F
5. J. B. Wardhana 2009 615.00 07-Sep-10 15-Sep-10 17-Sep-10 29-Sep-10 F
6. Michael Scharer 2010 1,110.00 10-Jun-11 13-Jun-11 15-Jun-11 24-Jun-11 F
7. Troy J. Modlin 2010 270.00 12-Sep-11 13-Sep-11 15-Sep-11 29-Sep-11 F
8. William Reilly Giff 2010 260.00 06-Dec-11 07-Dec-11 09-Dec-11 23-Dec-11 F
2011 200.00 06-Dec-11 07-Dec-11 09-Dec-11 23-Dec-11 I
AUDIT COMMITTEE 2011 1,050.00 22-May-12 23-May-12 25-May-12 05-Jun-12 F
1. Goh Kok Ho 2011 500.00 06-Dec-12 07-Dec-12 11-Dec-12 27-Dec-12 F
2. Hanafi Usman 2012 1,300.00 10-Jun-13 11-Jun-13 13-Jun-13 27-Jun-13 F
3. RB Permana Agung Dradjattun 2013 969.00 02-Dec-13 03-Dec-13 06-Dec-13 18-Dec-13 I
2013 927.00 03-Jun-14 04-Jun-14 06-Jun-14 20-Jun-14 F
CORPORATE SECRETARY 2013 360.00 11-Sep-14 12-Sep-14 16-Sep-14 30-Sep-14 F
Ike Andriani 2013 1,143.00 04-Dec-14 05-Dec-14 09-Dec-14 23-Dec-14 F
2014 975.00 05-May-15 06-May-15 08-May-15 28-May-15 F
HEAD OFFICE 2014 1,033.00 18-Aug-15 19-Aug-15 21-Aug-15 09-Sep-15 F
One Pacific Place, 18th Floor, SCBD 2015 2,225.00 04-May-16 09-May-16 11-May-16 27-May-16 F
Jl. Jend. Sudirman Kav. 52-53 2016 107.70 05-May-17 08-May-17 10-May-17 26-May-17 F
Jakarta 12190 2017 107.30 07-May-18 08-May-18 11-May-18 25-May-18 F
Phone : (021) 515-1234
Fax : (021) 515-2234 ISSUED HISTORY
Homepage : www.sampoerna.com Listing Trading
Email : contact@sampoerna.com No. Type of Listing Shares Date Date
investor.relations@sampoerna.com 1. First Issue 27,000,000 15-Aug-90 15-Aug-90
2. Partial Listing 18,000,000 T: 15-Aug-90 : 15-Feb-91
3. Company Listing 135,000,000 15-Jun-92 15-Jun-92
4. Bonus Shares 270,000,000 28-Sep-94 28-Sep-94
5. Stock Split 115,827,353,824 T: 18-Nov-96 : 14-Jun-16
6. Additional Listing 28,000,000 18-Jun-99 18-Jun-99
7. Buy Back -257,000,000 T: 17-Oct-01 : 27-Sep-04
8. Right Issue 269,340,247 T: 27-Oct-15 : 03-Nov-15


TRADING ACTIVITIES
H.M. Sampoerna Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
5,600 320 Jan-14 68,000 60,000 67,050 484 327 20,297 20
Feb-14 71,500 66,500 68,500 412 138 9,572 20
4,900 280 Mar-14 69,900 68,025 69,000 227 80 5,590 20
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
4,200 240
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
3,500 200
Aug-14 70,650 67,000 70,650 210 173 12,026 18
Sep-14 72,500 70,000 72,000 116 74 5,352 21
2,800 160
Oct-14 72,100 70,000 71,100 146 85 6,047 21
Nov-14 71,500 69,250 69,850 253 246 17,359 20
2,100 120 Dec-14 70,000 67,375 68,650 418 272 19,365 19
1,400 80 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
700 40 Mar-15 73,850 64,900 73,475 562 440 29,284 21
Apr-15 75,375 71,750 73,500 273 99 7,369 19
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
Aug-15 84,850 71,000 76,000 633 291 22,329 20
Sep-15 77,250 74,250 75,975 588 288 21,750 21
January 2014 - July 2018 Dec-15 102,000 91,025 94,000 21,935 11,202 1,078,449 19
140%
Jan-16 109,800 89,000 103,500 36,158 24,636 2,430,871 20
120% Feb-16 112,125 99,400 109,950 36,736 17,453 1,853,483 20
Mar-16 111,875 95,050 98,400 54,403 26,004 2,648,824 21
100% Apr-16 102,850 92,500 99,875 50,409 24,529 2,391,750 21
May-16 99,975 95,000 95,000 35,839 14,736 1,429,239 20
80% Jun-16 100,100 3,560 3,800 68,602 344,650 2,049,175 22
Jul-16 4,070 3,630 3,630 65,162 498,828 1,917,070 16
Aug-16 4,100 3,770 3,980 76,242 451,888 1,790,344 22
60%
54.8% Sep-16 4,250 3,760 3,950 53,596 529,459 2,103,398 21
Oct-16 4,240 3,950 3,950 57,637 262,366 1,069,604 21
40% 37.2% Nov-16 4,100 3,680 3,800 86,379 478,176 1,846,862 22
34.3%
Dec-16 4,050 3,620 3,830 54,880 312,401 1,208,891 20
20%
Jan-17 4,020 3,750 3,850 63,603 265,560 1,042,308 21

- Feb-17 4,000 3,800 3,870 48,665 263,177 1,023,576 19
Mar-17 4,150 3,830 3,900 76,777 829,211 3,320,768 22
-20% Apr-17 4,030 3,820 3,820 39,258 268,009 1,047,348 17
Jun-17 3,900 3,770 3,840 46,422 303,374 1,167,097 15
Jul-17 3,870 3,550 3,550 54,271 318,070 1,194,273 21
Value (Billion Rp) 144 29,089 22,740 19,824 15,927 Oct-17 4,060 3,760 3,980 47,188 483,631 1,888,289 22
Days 233 234 246 238 138 Dec-17 4,780 4,200 4,730 55,250 426,241 1,903,758 18
Price (Rupiah) Jan-18 5,550 4,530 4,900 80,107 502,618 2,512,091 22

High 74,000 102,000 112,125 4,780 5,550 Feb-18 4,970 4,550 4,820 69,261 549,982 2,658,291 19
Low 60,000 64,900 3,560 3,350 3,230 Mar-18 4,850 3,940 3,980 84,126 755,076 3,272,923 21
Close 68,650 94,000 3,830 4,730 3,840 Apr-18 4,220 3,500 3,540 67,241 553,852 2,200,752 21
Close* 2,726 3,760 3,830 4,730 3,840 May-18 3,930 3,230 3,790 100,455 710,811 2,549,413 20
Jun-18 3,830 3,350 3,580 58,295 336,721 1,210,968 13
PER (X) 29.48 42.20 36.79 43.42 36.53 Jul-18 3,970 3,560 3,840 63,174 403,828 1,522,203 22
PER Industry (X) 24.22 17.71 23.77 18.48 20.01
PBV (X) 27.35 13.66 14.51 16.13 16.11


Receivables 1,097,937 4,726,827 4,996,420 3,780,990 2,658,676

17,431,586 19,071,523 19,442,023 18,023,238 14,559,127 36,000
Inventories
Current Assets 20,777,514 29,807,330 33,647,496 34,180,353 34,985,610
27,000
Fixed Assets 5,919,600 6,281,176 6,895,483 6,890,750 6,942,897
Other Assets 804,448 844,896 870,447 1,017,533 966,034
18,000
Total Assets 28,380,630 38,010,724 42,508,277 43,141,063 43,878,865
Growth (%) 33.93% 11.83% 1.49% 1.71% 9,000

Growth (%) -59.72% 39.01% 8.34% 79.00%
Authorized Capital 630,000 630,000 630,000 630,000 630,000 34,175 34,113
Paid up Capital 438,300 465,272 465,272 465,272 465,272 34,175
32,016
Par Value 100 100 4 4 4

27,203

Total Equity 13,498,114 32,016,060 34,175,014 34,112,985 27,718,753
20,232
13,498
Growth (%) 137.19% 6.74% -0.18% -18.74% 13,260
Total Revenues 80,690,139 89,069,306 95,466,657 99,091,484 49,157,548

Growth (%) 10.38% 7.18% 3.80%
-684
2014 2015 2016 2017 Jun-18
Cost of Revenues 60,190,077 67,304,917 71,611,981 74,875,642 37,728,222

Gross Profit 20,500,062 21,764,389 23,854,676 24,215,842 11,429,326
Expenses (Income) 6,781,763 7,831,745 6,843,229 7,321,036 3,368,373
95,467
89,069
Growth (%)
99,091
80,690
78,877

49,158
Tax 3,537,216 3,569,336 4,249,218 4,224,272 1,948,022
Growth (%) 1.79% 23.15% -0.72%

18,233
Current Ratio (%) 152.77 656.74 523.41 527.23 256.05
12,762 12,671
Dividend (Rp) 2,008.00 2,225.00 107.70 107.30 -
EPS (Rp) 2,322.86 2,227.36 109.72 108.93 52.55 10,181 10,363
BV (Rp) 3,079.65 6,881.14 293.81 293.27 238.30 10,159
DAR (X) 0.52 0.16 0.20 0.21 0.37

DER(X) 1.10 0.19 0.24 0.26 0.58 6,113
7,555
ROA (%) 35.87 27.26 30.02 29.37 13.93 4,952
ROE (%) 75.43 32.37 37.34 37.14 22.05

GPM (%) 25.41 24.44 24.99 24.44 23.25 2,348
OPM (%) - - - - -
NPM (%) 12.62 11.64 13.37 12.79 12.44
-255
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 86.45 99.89 98.16 98.50 -
Yield (%) 2.92 2.37 2.81 2.27 -

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.
ICBP are engaged in diverse business categories, including noodles, dairy, snack foods, food
seasonings, nutrition and special foods and beverages. In addition, ICBP also operates a packaging
business, producing both flexible and corrugated packaging to support our main businesses.
The Company’s head office is located at Sudirman Plaza, Indofood Tower, 23rd Floor, Jalan Jenderal
Sudirman, Kav. 76 – 78, Jakarta, Indonesia, while the Company and its Subsidiaries’ factories are
located in various locations in Java, Bali, Sumatera, Kalimantan, Sulawesi Islands and Malaysia.
PT Indofood Sukses Makmur, Indonesia, and First Pacific Company Limited, Hong Kong, are the
parent entity and the ultimate parent entity, respectively, of the Company.
The Company 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, and PT Indo Oji Sukses Pratama.
Awards received by the Company in 2017: Asia’s Best Companies Awards 2017 – Best at Corporate
Social Responsibility (Ranked 7th) & Best at Investor, Indonesia Most Innovative Business Award
2017 – The Winner of Indonesia Most Innovative Business Award 2017 in F&B Category, from Warta
Ekonomi Magazine, Indonesia Best Brand Platinum Award 2017 – Indomie in Instant Noodles
Category, from SWA Magazine & MARS, Digital Marketing Awards 2017 – Indomilk Ready to Drink
Milk as Great Performing Website, from Marketing Magazine & SurveyOne, Best Employee –
Milkuat as Model Employee in Bekasi region (Pekerja Teladan Tingkat Kab. Bekasi), from Bekasi
regional Office of Manpower, etc.
As of June 30th, 2018, the Group had 31,026 employees.
August 2018
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 publicatio

ICBP Indofood CBP Sukses Makmur Tbk.

Industry Sub Sector : Food And Beverages (51) Market Capitalization : 101,750,147,300,000
12 | 101.8T | 1.52% | 49.27%
49 | 10.6T | 0.53% | 72.98%

Established Date : 02-Sep-2009 1. PT Indofood Sukses Makmur 9,329,526,000 : 80.00%
Underwriter 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
2014 222.00 18-May-15 19-May-15 21-May-15 09-Jun-15 F
1. Franciscus Welirang 2016 154.00 09-Jun-17 12-Jun-17 14-Jun-17 04-Jul-17 F
2. A. Prijohandojo Kristanto *) 2017 162.00 08-Jun-18 20-Jun-18 22-Jun-18 03-Jul-18 F
3. Alamsyah
4. Florentinus Gregorius Winarno *) ISSUED HISTORY
5. Hans Kartikahadi *) Listing Trading
6. Moleonoto No. Type of Listing Shares Date Date
*) Independent Commissioners 1. First Issue 1,166,191,000 07-Oct-10 07-Oct-10
2. Company Listing 4,664,763,000 07-Oct-10 07-Apr-11
BOARD OF DIRECTORS 3. Stock Split 5,830,954,000 27-Jul-16 27-Jul-16
1. Anthoni Salim
2. Axton Salim
3. Hendra Widjaja
4. Joedianto Soejonopoetro
5. Suaimi Suriady
6. T. Eddy Hariyanto
7. Taufik Wiraatmadja
8. Tjhie Tje Fie (Thomas Tjhie)
AUDIT COMMITTEE
1. Hans Kartikahadi
2. A. Prijohandojo Kristanto
3. Hendra Susanto
CORPORATE SECRETARY
Gideon A. Putro
HEAD OFFICE
Sudirman Plaza, Indofood Tower 23rd Floor
Jl. Jend. Sudirman Kav. 76-78
Jakarta 12910
Phone : (021) 5793-7500
Fax : (021) 5793-7557
Homepage : www.indofoodcbp.com
Email : corporate.secretary@icbp.indofood.co.id
gideon.putro@icbp.indofood.co.id


TRADING ACTIVITIES
Indofood CBP Sukses Makmur Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
12,000 40.0 Jan-14 11,700 9,900 11,000 31,608 68,488 734,990 20
Feb-14 11,350 10,450 11,175 33,839 78,008 852,458 20
10,500 35.0 Mar-14 11,300 9,950 10,100 40,130 124,778 1,318,297 20
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
9,000 30.0
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
7,500 25.0
Aug-14 10,650 10,100 10,500 27,066 74,737 781,831 20
Sep-14 11,400 10,500 11,350 25,934 57,043 629,638 22
6,000 20.0
Oct-14 11,575 10,500 11,050 33,698 77,025 858,355 23
Nov-14 11,450 10,800 11,250 18,187 56,536 624,570 20
4,500 15.0 Dec-14 13,400 11,150 13,100 24,568 69,230 825,565 20
3,000 10.0 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
1,500 5.0 Mar-15 15,500 14,025 14,675 38,018 88,680 1,289,971 22
Apr-15 14,700 12,300 13,200 31,277 95,059 1,306,487 21
May-15 14,225 13,300 14,100 34,554 63,037 855,040 19
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
Aug-15 13,000 11,550 12,750 32,387 69,230 863,442 20
Sep-15 13,175 10,900 12,400 28,987 42,367 523,143 21
Consumer Goods Industry Index Nov-15 13,500 11,925 12,625 32,730 48,234 616,032 21
January 2014 - July 2018 Dec-15 13,600 11,325 13,475 26,651 37,590 470,086 19
105%
Jan-16 14,900 12,850 14,450 37,740 60,286 851,215 20
90% Feb-16 16,600 14,200 15,750 50,673 94,923 1,447,933 20
Mar-16 16,150 14,975 15,200 42,757 75,626 1,171,017 21
75% Apr-16 15,600 14,125 15,275 37,415 56,794 850,608 21
67.0%
May-16 16,500 15,125 16,200 33,163 55,538 873,493 20
60% Jun-16 17,700 15,800 17,225 33,168 50,653 849,521 22
Jul-16 18,025 8,600 8,600 40,394 56,169 841,159 16
Aug-16 10,000 8,575 9,975 55,993 137,918 1,260,347 22
45%
Sep-16 10,275 8,975 9,475 69,142 176,081 1,670,088 21
37.2%
34.3% Oct-16 10,000 9,350 9,400 38,816 71,519 689,735 21
30%
Nov-16 9,650 8,150 8,650 71,847 163,183 1,451,319 22
Dec-16 9,025 7,550 8,575 47,590 94,406 795,561 20
15%
Jan-17 8,825 8,350 8,400 34,645 93,349 800,266 21

- Feb-17 8,575 8,250 8,325 31,128 112,405 945,296 19
Mar-17 8,950 8,075 8,150 44,076 123,072 1,040,304 22
-15% Apr-17 8,950 7,975 8,775 27,002 135,455 1,133,363 17
Jun-17 8,875 8,275 8,800 25,087 93,137 801,977 15
Jul-17 8,825 8,275 8,350 34,204 125,801 1,075,742 21
Volume (Million Sh.) 899 735 1,093 1,298 718 Sep-17 8,950 8,550 8,725 22,505 79,872 700,606 19
Days 242 244 246 238 138 Dec-17 9,150 8,600 8,900 28,099 85,041 753,177 18
Price (Rupiah) Jan-18 9,275 8,575 8,725 43,250 266,660 2,346,622 22

High 13,400 16,050 18,025 9,225 9,275 Feb-18 9,100 8,675 8,975 28,974 85,391 758,367 19
Low 9,800 10,900 7,550 7,975 7,900 Mar-18 9,150 8,200 8,275 29,575 77,593 676,664 21
Close 13,100 13,475 8,575 8,900 8,725 Apr-18 8,800 7,900 8,675 25,995 77,452 644,319 21
Close* 6,550 6,738 8,575 8,900 8,725 May-18 8,825 7,900 8,700 38,324 98,631 825,036 20
Jun-18 9,000 8,150 8,850 33,097 66,837 578,738 13
PER (X) 27.67 26.18 26.48 27.34 22.21 Jul-18 9,075 8,450 8,725 30,551 45,518 397,556 22
PER Industry (X) 24.22 17.71 23.77 18.48 20.01
PBV (X) 5.26 4.79 5.61 5.11 4.93


Receivables 2,902,202 3,363,697 3,893,925 4,126,439 5,307,439

2,821,618 2,546,835 3,109,916 3,261,635 3,338,501 28,000
Inventories
Current Assets 13,603,527 13,961,500 15,571,362 16,579,331 17,556,409
21,000
Fixed Assets 5,838,843 6,555,660 7,114,288 8,120,254 9,978,185
Other Assets 213,907 222,280 111,864 257,382 280,881
14,000
Total Assets 24,910,211 26,560,624 28,901,948 31,619,514 34,754,657
Growth (%) 6.63% 8.82% 9.40% 9.92% 7,000

Growth (%) 3.07% 2.24% 8.60% 25.12%
20,324
Paid up Capital 583,095 583,095 583,095 583,095 583,095 20,622
18,501
15,040
Par Value 100 100 50 50 100
16,415

Total Equity 15,039,947 16,386,911 18,500,823 20,324,330 20,621,666
12,208
Growth (%) 8.96% 12.90% 9.86% 1.46% 8,001
Total Revenues 30,022,463 31,741,094 34,466,069 35,606,593 19,459,307

Growth (%) 5.72% 8.59% 3.31%
-412
2014 2015 2016 2017 Jun-18
Cost of Revenues 21,962,609 22,121,957 23,606,755 24,547,757 13,170,023

Gross Profit 8,059,854 9,619,137 10,859,314 11,058,836 6,289,284
Expenses (Income) 4,931,161 5,627,005 5,995,146 5,837,090 3,019,113
Operating Profit 3,128,693 3,992,132 4,864,168 5,221,746 3,270,171 34,466 35,607
27.60% 21.84% 7.35% 31,741

Growth (%)
35,607
30,022
28,343
Other Income (Expenses) 260,032 17,502 125,086 -15,185 -48,180

3,388,725 4,009,634 4,989,254 5,206,561 3,221,991 19,459
Income before Tax 21,079
Tax 857,044 1,086,486 1,357,953 1,663,388 906,541

Growth (%) 15.46% 24.23% -2.43%

6,552
Current Ratio (%) 218.32 232.60 240.68 242.83 179.79
3,631 3,543
Dividend (Rp) 222.00 256.00 154.00 162.00 - 3,631
EPS (Rp) 446.62 514.62 308.73 325.55 392.92 2,923

BV (Rp) 2,579.33 2,810.33 1,586.43 1,742.80 3,536.59 2,891
2,532
2,315
DAR (X) 0.40 0.38 0.36 0.36 0.41
DER(X) 0.66 0.62 0.56 0.56 0.69
2,150
ROA (%) 10.16 11.01 12.56 11.21 6.66 1,409
ROE (%) 16.83 17.84 19.63 17.43 11.23

GPM (%) 26.85 30.30 31.51 31.06 32.32 668
OPM (%) 10.42 12.58 14.11 14.67 16.81

NPM (%) 8.43 9.21 10.54 9.95 11.90
-73
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 49.71 49.75 49.88 49.76 -
Yield (%) 1.69 1.90 1.80 1.82 -

C
COOM
MPPA
ANNY
Y R
REEP
POOR
R TT
INCO
VALE INDONESIA TBK.
Company Profile
PT Vale Indonesia Tbk. (formerly International Nickel Indonesia Tbk.) was established on July 25th,
1968. The company is Indonesia's largest nickel producer. The company is a subsidiary of Vale,
the world's second biggest mining company, headquartered in Brazil. Vale Indonesia is a foreign
investment company that explores, mines, processes and produces nickel in matte, an
intermediate product, from lateritic ores at its mining and processing facilities near Sorowako on
the island of Sulawesi. Vale's production is shipped - under long term contracts in US dollars - to
Japan for refining.
After 20 years at the 22nd floor of Plaza Bapindo, Jl. Jendral Sudirman Kav. 54-55 Jakarta, PT Vale
Indonesia Tbk in Jakarta moved to its new place, the 31st floor of The Energy Building at SCBD
Lot A, Jalan Jendral Sudirman Kav. 52-53. Activities at the new office commenced officially on 14
March 2016.
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.
In 2017 the company received awards: Indonesia Green Concern Company 2017, The Best
Corporate for Prevention and Control of HIV and AIDS on Workplace Program, Platinum Category,
Occupational Health & Safety, Sustainability Business Awards Indonesia 2017, Business
Responsibility and Ethics Category, Top 50 Of The Biggest Market Capitalization Public Listed
Companies, Indonesia Corporate Secretary Award 2017 - Top 5 GCG Issues in Mining Sector,
Nuclear Energy Regulatory Agency Safety and Security Award with Very Good Award, and PROPER
Award.
The total number of employees as of June 30th, 2018 was 3,158.
August 2018
Disclaimer:

INCO Vale Indonesia Tbk.

Industry Sub Sector : Metal And Mineral Mining (23) Market Capitalization : 43,421,800,206,400
28 | 43.4T | 0.65% | 63.23%
51 | 10.3T | 0.52% | 74.02%

Established Date : 25-Jul-1968 1. Vale Canda Limited 5,835,607,960 : 58.73%
Listing Date : 16-May-1990 2. Public (<5%) 2,036,346,880 : 20.49%
Underwriter IPO : 3. Sumitomo Metal Mining Co., Ltd. 1,996,281,680 : 20.09%
PT Danareksa Sekuritas 4. Vale Japan Limited 54,083,720 : 0.54%
Securities Administration Bureau : 5. Sumitomo Corporation 14,018,480 : 0.14%
PT Vale Indonesia Tbk.
DIVIDEND ANNOUNCEMENT
BOARD OF COMMISSIONERS Bonus Cash Recording Payment
F/I
1. Eduardo Bartolomeo Year Shares Dividend Cum Date Ex Date Date Date
2. Akira Nozaki 1992 US$ 0.05 15-Apr-93 16-Apr-93 23-Apr-93 21-May-93 F
3. Mahendra Siregar *) 1993 US$ 0,05 25-Apr-94 26-Apr-94 03-May-94 01-Jun-94 F
4. Mark James Travers 1994 US$ 0,05 28-Oct-94 31-Oct-94 07-Nov-94 07-Dec-94 I
5. Raden Sukhyar *) 1994 US$ 0,05 24-Apr-95 25-Apr-95 02-May-95 02-Jun-95 F
6. Robert Alan Morris 1995 US$ 0,05 03-Nov-95 04-Nov-95 14-Nov-95 13-Dec-95 I
*) Independent Commissioners 1995 US$ 0,05 26-Apr-96 29-Apr-96 07-May-96 05-Jun-96 F
1996 US$ 0.05 04-Nov-96 05-Nov-96 13-Nov-96 12-Dec-96 I
BOARD OF DIRECTORS 1996 121.60 25-Apr-97 28-Apr-97 06-May-97 04-Jun-97 F
1. Nicolas D. Kanter 1997 174.15 10-Nov-97 11-Nov-97 19-Nov-97 18-Dec-97 I
2. Bernardus Irmanto 2002 84.65 29-Apr-03 30-Apr-03 02-May-03 19-May-03 F
3. Febriany Eddy 2002 10.61 13-Nov-03 14-Nov-03 18-Nov-03 05-Dec-03 F
4. Lovro Paulic 2003 US$ 0,15 23-Apr-04 26-Apr-04 28-Apr-04 13-May-04 F
2004 US$ 0.0125 04-Nov-04 05-Nov-04 09-Nov-04 25-Nov-04 I
AUDIT COMMITTEE 2004 US$ 0.0975 19-Apr-05 20-Apr-05 25-Apr-05 10-May-05 F
1. Irwandy Arif 2005 US$ 0.025 22-Nov-05 23-Nov-05 25-Nov-05 08-Dec-05 I
2. Annie Margono 2005 745.88 25-Apr-06 26-Apr-06 28-Apr-06 12-May-06 F
3. Dedi Rudaedi 2006 US$ 0.025 17-Nov-06 20-Nov-06 22-Nov-06 05-Dec-06 I
4. Jos Luhukay 2006 454.50 24-Apr-07 27-Apr-07 27-Apr-07 11-May-07 F
2007 US$ 0,9787 20-Nov-07 21-Nov-07 23-Nov-07 07-Dec-07 I
CORPORATE SECRETARY 2007 US$ 0.02264 16-Apr-08 17-Apr-08 21-Apr-08 06-May-08 F
Ratih Amri 2009 US$ 0,01107 09-Dec-09 10-Dec-09 14-Dec-09 29-Dec-09 I
2010 178.44 05-Oct-10 06-Oct-10 08-Oct-10 22-Oct-10 I
HEAD OFFICE 2010 125.06 02-May-11 03-May-11 05-May-11 20-May-11 F
The Energy Building 31st Floor 2011 89.68 02-Nov-11 03-Nov-11 07-Nov-11 21-Nov-11 I
SCBD Lot 11 A, Jl. Jend. Sudirman Kav. 52-53 2011 79.70 14-May-12 15-May-12 21-May-12 01-Jun-12 F
Jakarta 12190 2012 24.31 06-Dec-12 07-Dec-12 11-Dec-12 27-Dec-12 I
Phone : (021) 524-9000 2012 24.70 14-May-13 15-May-13 17-May-13 31-May-13 F
Fax : (021) 524-9030 2013 30.14 29-Nov-13 02-Dec-13 04-Dec-13 18-Dec-13 I
Homepage : www.vale.com/indonesia 2014 123.81 28-Nov-14 01-Dec-14 03-Dec-14 17-Dec-14 I
Email : ptvi.shareadmin@vale.com
ratih.amri@vale.com ISSUED HISTORY
Listing Trading
1. First Issue 49,681,694 16-May-90 16-May-90
2. Company Listing 198,726,774 31-Jan-01 31-Jan-01
3. Stock Split 745,225,404 03-Aug-04 03-Aug-04
4. Stock Split 8,942,704,848 15-Jan-08 15-Jan-08


TRADING ACTIVITIES
Vale Indonesia Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,800 160 Jan-14 2,800 2,115 2,305 28,319 285,267 707,505 20
Feb-14 2,650 2,230 2,390 26,254 267,495 658,048 20
4,200 140 Mar-14 2,850 2,390 2,820 42,732 554,968 1,485,366 20
Apr-14 3,745 2,815 3,550 44,937 476,712 1,599,051 20
May-14 4,240 3,430 3,915 57,730 454,246 1,775,539 18
3,600 120
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
3,000 100
Aug-14 4,185 3,785 4,180 51,392 260,878 1,044,808 20
Sep-14 4,575 3,710 3,750 64,604 295,695 1,224,296 22
2,400 80
Oct-14 3,825 3,455 3,790 63,431 220,286 807,541 23
Nov-14 4,175 3,625 3,985 53,963 201,141 778,894 20
1,800 60 Dec-14 4,145 3,525 3,625 48,022 201,988 828,546 20
1,200 40 Jan-15 3,695 3,285 3,450 49,254 157,356 555,099 21

Feb-15 3,675 3,350 3,525 42,735 153,140 534,741 19
600 20 Mar-15 3,565 3,230 3,235 41,098 178,101 602,947 22
Apr-15 3,275 2,605 2,795 35,215 225,188 677,054 21
May-15 3,545 2,740 3,120 48,244 260,581 857,171 19
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
Aug-15 2,135 1,190 1,545 46,269 320,687 516,928 20
Sep-15 2,220 1,265 2,185 73,280 497,430 811,348 21
Mining Index Nov-15 2,280 1,645 1,645 43,182 200,892 378,750 21
January 2014 - July 2018 Dec-15 1,695 1,340 1,635 34,124 196,891 319,271 19
100%
Jan-16 1,635 1,370 1,445 25,378 134,782 196,679 20
80% Feb-16 1,650 1,375 1,535 32,734 204,914 306,034 20
74.8%
Mar-16 2,045 1,530 1,750 52,471 391,455 736,442 21
60% Apr-16 2,010 1,710 1,860 35,363 286,809 542,339 21
May-16 1,860 1,490 1,655 24,450 148,629 244,992 20
49.0%
40% Jun-16 1,870 1,630 1,820 26,831 225,438 398,859 22
37.2%
Jul-16 2,630 1,800 2,560 40,083 367,864 863,081 16
Aug-16 3,050 2,480 2,640 42,408 300,925 819,062 22
20%
Sep-16 3,070 2,530 2,950 41,650 250,611 705,147 21
Oct-16 3,160 2,630 2,720 52,413 427,151 1,194,625 21
-
Nov-16 3,630 2,560 3,380 69,104 489,835 1,545,759 22
Dec-16 3,500 2,620 2,820 39,537 246,788 768,000 20
-20%
Jan-17 3,110 2,230 2,370 76,644 594,870 1,533,079 21

-40% Feb-17 2,850 2,390 2,550 52,817 479,642 1,280,953 19
Mar-17 2,580 2,270 2,390 31,843 279,808 664,474 22
-60% Apr-17 2,420 2,140 2,220 26,839 162,661 368,725 17
Jun-17 2,020 1,840 1,850 19,168 113,881 217,207 15
Jul-17 2,510 1,835 2,420 34,878 315,479 689,392 21
Days 242 244 246 238 138 Dec-17 2,950 2,570 2,890 26,505 130,809 364,746 18
Price (Rupiah) Jan-18 3,890 2,920 3,750 49,145 327,670 1,100,146 22

High 4,575 3,695 3,630 3,340 4,720 Feb-18 3,860 3,310 3,390 40,902 298,186 1,066,959 19
Low 2,115 1,190 1,370 1,835 2,740 Mar-18 3,370 2,740 2,790 47,591 282,598 854,927 21
Close 3,625 1,635 2,820 2,890 4,370 Apr-18 3,810 2,780 3,160 50,257 320,776 1,063,104 21
Close* 3,625 1,635 2,820 2,890 4,370 May-18 3,880 3,020 3,860 41,432 185,964 654,347 20
Jun-18 4,300 3,790 4,040 25,625 143,087 578,563 13
PER (X) 16.97 23.32 -230.18 -138.80 51.29 Jul-18 4,720 3,880 4,370 50,140 205,649 883,552 22
PER Industry (X) 3.23 0.60 -4.41 6.26 6.85
PBV (X) 1.60 0.64 1.18 1.17 1.63


Receivables 1,152,892 1,146,177 1,969,933 2,243,237 2,624,121

1,732,173 1,525,295 1,743,939 1,594,952 1,799,751 27,000
Inventories
Current Assets 7,728,153 8,793,628 8,050,233 8,088,915 8,296,862
20,250
Fixed Assets 20,003,592 23,499,597 20,592,726 20,237,853 20,725,685
Other Assets 197,135 191,728 141,226 104,022 91,509
13,500
Total Assets 29,027,987 33,552,233 29,901,711 29,596,405 31,110,652
Growth (%) 15.59% -10.88% -1.02% 5.12% 6,750

Growth (%) -2.25% -21.28% -5.80% -9.48%
Paid up Capital 248,408 248,408 248,408 248,408 248,408 26,880
24,650 24,649
Par Value 25 25 25 25 25
21,397

Total Equity 22,202,650 26,880,308 24,649,538 24,648,784 26,631,887
15,913
Growth (%) 21.07% -8.30% -0.00% 8.05% 10,430
Total Revenues 12,909,588 11,575,292 7,848,545 8,526,217 5,395,897

Growth (%) -10.34% -32.20% 8.63%
-538
2014 2015 2016 2017 Jun-18
Cost of Revenues 9,095,939 9,840,549 7,390,042 8,437,423 4,624,735

Gross Profit 3,813,649 1,734,744 458,504 88,794 771,161
Expenses (Income) 711,551 565,833 266,396 294,926 137,097
Operating Profit 3,102,098 1,168,910 192,108 -206,133 634,064 12,910
11,575
Growth (%) -62.32% -83.57% N/A
12,910
8,526
10,276
Other Income (Expenses) -155,624 -145,441 -122,711 -105,742 -52,661 7,849

Income before Tax 2,946,474 1,023,469 69,397 -311,875 581,403 7,642
Tax 804,112 283,276 43,788 -104,983 158,098 5,396
Profit for the period 2,142,362 740,193 25,609 -206,892 423,305 5,009
Growth (%) -65.45% -96.54% N/A

2,375
Period Attributable 2,142,362 740,193 25,609 -206,892 423,305 -258
Comprehensive Income 2,128,372 712,389 8,492 -206,228 425,725 2014 2015 2016 2017 Jun-18
Comprehensive Attributable 2,128,372 712,389 8,492 -206,228 425,725
Current Ratio (%) 298.21 404.02 453.94 461.76 470.04
2,142
Dividend (Rp) 123.81 - - - - 2,142
EPS (Rp) 215.61 74.49 2.58 -20.82 42.60

BV (Rp) 2,234.49 2,705.25 2,480.75 2,480.67 2,680.25 1,673
DAR (X) 0.24 0.20 0.18 0.17 0.14

DER(X) 0.31 0.25 0.21 0.20 0.17
1,203
740
ROA (%) 7.38 2.21 0.09 -0.70 1.36
423
733
ROE (%) 9.65 2.75 0.10 -0.84 1.59

GPM (%) 29.54 14.99 5.84 1.04 14.29 263
26 2017
OPM (%) 24.03 10.10 2.45 -2.42 11.75
NPM (%) 16.60 6.39 0.33 -2.43 7.84
-207
2014 2015 2016 Jun-18

-207
Payout Ratio (%) 57.42 - - - -
Yield (%) 3.42 - - - -

COMPANY REPORT
INDF
INDOFOOD SUKSES MAKMUR TBK.
Company Profile
PT Indofood Sukses Makmur Tbk was established on August 14, 1990 under its original name PT
Panganjaya Intikusuma, and entered the snack foods business through a joint venture (“JV”) with
Fritolay Netherlands Holding B.V., an affiliate of PepsiCo Inc.
The scope of its activities comprises, among others, establishing and operating processed food,
seasoning, beverages, packaging, cooking oil, wheat grain mills, flour sacks textile manufacturing,
trading, transportation, agribusiness, and services.
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 5 complementary Strategic Business Groups:
Consumer Branded Products, Bogasari, Agribusiness, Distribution, Cultivation and Processed
Vegetables.
In 2017 the company received awards: Top Capital Market 2017 – PT Indofood Sukses Makmur Tbk
as Top Corporate Reputation 2017 Food and Drink Category, from Business News Magazine & Asia
Business Research Center, Indonesia Best Brand Platinum Award 2017 – Indomie in Instant Noodles
Category, from SWA Magazine & MARS, Asia’s Best Companies 2017 – PT Indofood CBP Sukses
Makmur Tbk as Best at Corporate Social Responsibility, Top Brand 2017 – Indomilk Sweet Condensed
Milk in Recognition of Outstanding Achievement in Building the Top Brand, from Frontier Consulting
Group & Marketing Magazine, Indonesia Netizen Brand Choice Award 2017 – Indomie as Most
Popular Instant Noodle, from Warta Ekonomi Magazine, Indonesia Original Brand 2017 – Bimoli as
1st champion of Indonesia Original Brand 2017, from SWA Magazine, etc.
The Company’s head office is located at Sudirman Plaza, Indofood Tower, 27th Floor, Jl. Jend.
Sudirman Kav. 76 - 78, Jakarta, Indonesia, while the Company and its Subsidiaries’ factories and
estates are situated in various locations in Java, Sumatera, Kalimantan, Sulawesi islands and Malaysia.
The Company started its commercial operations in 1990.
As of June 30th, 2018, the Group has a total of 87,605 employees
August 2018
Disclaimer:

INDF Indofood Sukses Makmur Tbk.

Industry Sub Sector : Food And Beverages (51) Market Capitalization : 55,755,708,275,000
21 | 55.8T | 0.83% | 58.23%
6 | 48.5T | 2.43% | 27.06%

Established Date : 14-Aug-1990 1. First Pacific Investment Management Ltd. 4,396,103,450 : 50.07%
Underwriter IPO :
PT Merincorp S.I. DIVIDEND ANNOUNCEMENT
F/I
1994 58.00 21-Jul-95 24-Jul-95 01-Aug-95 31-Aug-95 F
1. Manuel Velez Pangilinan 1996 47.00 10-Jul-97 11-Jul-97 22-Jul-97 22-Aug-97 F
2. Adi Pranoto Leman *) 2000 18.00 11-Jul-01 12-Jul-01 17-Jul-01 31-Jul-01 F
3. Bambang Subianto *) 2001 25.00 09-Jul-02 10-Jul-02 15-Jul-02 29-Jul-02 F
4. Benny Setiawan Santoso 2002 28.00 17-Jul-03 18-Jul-03 22-Jul-03 05-Aug-03 F
5. Christopher Huxley Young 2003 28.00 15-Jul-04 16-Jul-04 20-Jul-04 02-Aug-04 F
6. Joseph Hon Pong Ng 2004 17.50 26-Aug-05 29-Aug-05 31-Aug-05 15-Sep-05 F
7. Robert Charles Nicholson 2005 5.00 20-Jul-06 21-Jul-06 25-Jul-06 08-Aug-06 F
8. Utomo Josodirdjo *) 2006 31.00 27-Jul-07 30-Jul-07 01-Aug-07 15-Aug-07 F
*) Independent Commissioners 2007 43.00 12-Aug-08 13-Aug-08 15-Aug-08 27-Aug-08 F
2008 47.00 02-Jul-09 03-Jul-09 07-Jul-09 22-Jul-09 F
1. Anthoni Salim 2010 133.00 26-Jul-11 27-Jul-11 29-Jul-11 09-Aug-11 F
2. Axton Salim 2011 175.00 17-Jul-12 18-Jul-12 20-Jul-12 03-Aug-12 F
3. Darmawan Sarsito 2012 185.00 17-Jul-13 18-Jul-13 22-Jul-13 02-Aug-13 F
4. Franciscus Welirang 2013 142.00 15-Jul-14 16-Jul-14 18-Jul-14 08-Aug-14 F
5. Joedianto Soejonopoetro 2014 220.00 18-May-15 19-May-15 21-May-15 11-Jun-15 F
6. Moleonoto (Paulus Moleonoto) 2015 168.00 10-Jun-16 13-Jun-16 15-Jun-16 28-Jun-16 F
7. Sulianto Pratama 2016 235.00 09-Jun-17 12-Jun-17 14-Jun-17 06-Jul-17 F
8. Taufik Wiraatmadja 2017 237.00 08-Jun-18 20-Jun-18 22-Jun-18 05-Jul-18 F
9. Tjhie Tje Fie (Thomas Tjhie)
ISSUED HISTORY
AUDIT COMMITTEE Listing Trading
1. Utomo Josodirdjo No. Type of Listing Shares Date Date
2. Adi Pranoto Leman 1. First Issue 21,000,000 14-Jul-94 14-Jul-94
3. Timotius 2. Founder Shares 742,000,000 T: 14-Jul-94 : 08-Feb-95
3. Stock Split 8,087,800,000 T: 12-Aug-96 : 29-Sep-00
CORPORATE SECRETARY 4. Right Issue 305,200,000 24-Apr-97 24-Apr-97
Elly Putranti 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
HEAD OFFICE 7. Buy Back -663,762,500 28-Oct-08 28-Oct-08
Sudirman Plaza, Indofood Tower 27th Floor
Jl. Jend. Sudirman Kav. 76 - 78
Jakarta 12190
Phone : (021) 5795-8822
Fax : (021) 5793-5960
Homepage : www.indofood.com
Email : corporate.secretary@indofood.co.id
elly.putranti@indofood.co.id


TRADING ACTIVITIES
Indofood Sukses Makmur Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
10,000 4,800 Jan-14 7,350 6,550 6,975 39,285 194,431 1,339,609 20
Feb-14 7,175 6,825 7,175 35,519 171,841 1,205,017 20
8,750 4,200 Mar-14 7,800 6,900 7,300 44,656 280,916 2,058,174 20
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
7,500 3,600
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
6,250 3,000
Aug-14 7,200 6,875 6,875 41,427 169,528 1,191,886 20
Sep-14 7,125 6,825 7,000 41,539 220,047 1,542,026 22
5,000 2,400
Oct-14 7,025 6,375 6,825 55,424 188,136 1,271,028 23
Nov-14 6,900 6,400 6,700 48,393 172,125 1,144,873 20
3,750 1,800 Dec-14 6,775 6,325 6,750 41,362 214,262 1,410,046 20
2,500 1,200 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
1,250 600 Mar-15 7,550 7,300 7,450 54,233 329,852 2,445,636 22
Apr-15 7,500 6,475 6,750 41,210 220,479 1,599,979 21
May-15 7,400 6,600 7,300 59,010 287,107 2,003,105 19
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
Aug-15 6,325 4,560 5,300 66,387 264,443 1,448,909 20
Sep-15 5,575 4,845 5,500 51,705 161,241 833,125 21
Consumer Goods Industry Index Nov-15 6,100 4,875 4,875 59,131 178,196 965,686 21
January 2014 - July 2018 Dec-15 5,300 4,840 5,175 51,839 174,809 889,022 19
75%
Jan-16 6,200 5,175 6,200 54,060 245,954 1,402,717 20
60% Feb-16 7,250 6,050 7,050 49,174 194,555 1,287,771 20
Mar-16 7,575 6,800 7,225 67,818 292,582 2,112,209 21
45% Apr-16 7,300 6,800 7,125 38,431 173,600 1,240,617 21
37.2% May-16 7,225 6,825 6,925 36,271 121,239 850,377 20
34.3% Jun-16 7,400 6,875 7,250 51,200 193,240 1,382,192 22
30%
Jul-16 8,725 6,975 8,325 46,898 227,720 1,735,739 16
Aug-16 8,500 7,750 7,925 61,179 240,903 1,946,059 22
15%
Sep-16 9,200 7,950 8,700 62,815 636,042 5,282,231 21
Oct-16 9,200 8,400 8,500 46,509 229,612 1,981,983 21
-
Nov-16 8,525 7,225 7,575 71,729 310,154 2,429,598 22
-5.2%
Dec-16 8,125 7,200 7,925 54,497 217,445 1,672,999 20
-15%
Jan-17 8,150 7,700 7,925 44,461 130,722 1,036,766 21

-30% Feb-17 8,200 7,875 8,125 31,002 148,451 1,188,765 19
Mar-17 8,525 7,875 8,000 55,584 235,935 1,905,664 22
-45% Apr-17 8,525 7,925 8,375 35,597 192,281 1,571,623 17
Jun-17 8,950 8,300 8,600 41,418 259,018 2,213,387 15
Jul-17 8,800 8,250 8,375 44,875 146,573 1,266,372 21
Days 242 244 246 238 138 Dec-17 7,775 7,275 7,625 48,562 286,838 2,236,345 18
Price (Rupiah) Jan-18 8,125 7,550 7,750 58,037 227,028 1,787,772 22

High 7,800 7,725 9,200 9,000 8,125 Feb-18 7,925 7,550 7,575 37,655 152,504 1,180,453 19
Low 6,325 4,560 5,175 7,275 6,075 Mar-18 7,800 6,975 7,200 50,568 4,573,540 32,627,053 21
Close 6,750 5,175 7,925 7,625 6,350 Apr-18 7,350 6,575 6,975 40,446 167,418 1,184,145 21
Close* 6,750 5,175 7,925 7,625 6,350 May-18 7,150 6,075 7,075 61,277 241,069 1,619,236 20
Jun-18 7,250 6,350 6,650 46,680 153,680 1,061,834 13
PER (X) 14.67 15.31 16.11 16.06 14.25 Jul-18 6,675 6,150 6,350 40,002 110,567 708,221 22
PER Industry (X) 24.22 17.71 23.77 18.48 20.01
PBV (X) 1.45 1.05 1.55 1.43 1.18


Receivables 4,339,670 5,116,610 5,204,517 6,852,885 7,821,934

8,454,845 7,627,360 8,469,821 9,690,981 9,756,966 80,000
Inventories
Current Assets 40,995,736 42,816,745 28,985,443 32,515,399 35,377,756
60,000
Fixed Assets 22,011,488 25,096,342 25,701,913 29,787,303 41,593,461
Other Assets 1,702,988 1,529,983 3,479,254 - 1,381,566
40,000
Total Assets 85,938,885 91,831,526 82,174,515 87,939,488 93,619,499
Growth (%) 6.86% -10.52% 7.02% 6.46% 20,000

Growth (%) 8.95% -21.51% 7.71% -7.63%
46,757
Paid up Capital 878,043 878,043 878,043 878,043 878,043 43,122 43,941
41,228
47,173

Par Value 100 100 100 100 100
37,550

Total Equity 41,228,376 43,121,593 43,941,423 46,756,724 47,172,799
27,926
Growth (%) 4.59% 1.90% 6.41% 0.89% 18,303
Total Revenues 63,594,452 64,061,947 66,750,317 70,186,618 35,999,542

Growth (%) 0.74% 4.20% 5.15%
-943
2014 2015 2016 2017 Jun-18
Cost of Revenues 46,544,646 46,803,889 47,321,877 50,318,096 25,829,867

Gross Profit 17,049,806 17,258,058 19,428,440 19,868,522 10,169,675
Expenses (Income) 9,841,074 9,895,163 11,143,433 11,121,020 5,627,389
66,750
63,594 64,062
Growth (%) 2.14% 12.52% 5.58%
70,187
55,869
Other Income (Expenses) -979,435 -2,400,811 -899,779 -1,088,948 -931,643

36,000
Tax 1,828,217 1,730,371 2,532,747 2,513,491 1,176,920
Growth (%) -27.92% 41.98% -2.31%

12,914
Current Ratio (%) 180.74 170.53 150.81 150.27 122.34
5,146 5,267 5,145
Dividend (Rp) 220.00 168.00 235.00 237.00 - 5,267
EPS (Rp) 442.50 338.02 472.02 474.75 222.77

BV (Rp) 4,695.49 4,911.10 5,004.47 5,325.11 5,372.50 4,192
3,710
DAR (X) 0.52 0.53 0.47 0.47 0.41

DER(X) 1.08 1.13 0.87 0.88 0.81 2,434
3,118
ROA (%) 5.99 4.04 6.41 5.85 2.60 2,044
ROE (%) 12.48 8.60 11.99 11.00 5.16

GPM (%) 26.81 26.94 29.11 28.31 28.25 969
OPM (%) 11.34 11.49 12.41 12.46 12.62

NPM (%) 8.09 5.79 7.89 7.33 6.76
-105
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 49.72 49.70 49.79 49.92 -
Yield (%) 3.26 3.25 2.97 3.11 -

C
COOM
MPPA
ANNY
Y R
REEP
POOR
R TT
INDY
INDIKA ENERGY TBK.
Company Profile
PT Indika Energy Tbk. was established October 19th, 2000. The Company started its commercial operations
in 2004.
Indika Energy is an integrated energy company serving customers throughout Indonesia and the world with
energy solutions achieved through diversified strategic investments in energy resources, energy services,
energy infrastructure and Floating Crane. The company embraces challenges with a strong corporate values
and culture, leveraging its integrity, solidarity and sustainability policies across all of its operations and
sustainability activities.
Indika Energy emphasizes the strategic and efficient production of Indonesia’s natural resources to meet both
domestic and global energy demand through its key coal mining facilities of PT Kideco Jaya Agung, PT Multi
Tambangjaya Utama (MUTU), PT Indika Inti Corporindo, Indika Capital Investment Pte.Ltd, PT Santan
Batubara, and PT Mitra Energi Agung.
The core strategy for growth has been strengthening the foundation for greater value-chain integration. The
Company has ownership interest of more than 50%, directly or indirectly, in the following subsidiaries: PT
Kideco Jaya Agung, PT Multi Tambangjaya Utama (MUTU), PT Indika Inti Corporindo, Indika Capital
Investment Pte.Ltd, PT Mitra Energi Agung , PT Petrosea Tbk, PT Tripatra Engineering & PT Tripatra Engineers
& Constructors, PT Mitrabahtera Segara Sejati Tbk, PT Kuala Pelabuhan Indonesia, and Petrosea Oshore
Supply Base (POSB).
The company domiciled in Jakarta, and the head office is located in Mitra Building, 3rd Floor, Jln. Jend. Gatot
Subroto Kav. 21, Jakarta.
At June 30th, 2018, the company and its subsidiaries had total number of employees of 8,192 (including 3,095
non-permanent employees).
August 2018
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.

INDY Indika Energy Tbk.

60 | 18.8T | 0.28% | 75.86%
23 | 21.0T | 1.05% | 53.90%

Established Date : 19-Oct-2000 1. PT Indika Inti Investindo 1,968,882,699 : 37.79%
Listing Date : 11-Jun-2008 2. PT Teladan Resources 1,596,977,091 : 30.65%
PT Danareksa Sekuritas
PT Mandiri Sekuritas DIVIDEND ANNOUNCEMENT
PT Indo Premier Securities Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2008 84.00 17-Jun-09 18-Jun-09 22-Jun-09 03-Jul-09 F
2009 69.68 08-Jun-10 09-Jun-10 11-Jun-10 25-Jun-10 F
BOARD OF COMMISSIONERS 2010 48.00 10-Nov-10 11-Nov-10 15-Nov-10 30-Nov-10 I
1. Agus Lasmono 2010 26.00 12-Jul-11 13-Jul-11 15-Jul-11 29-Jul-11 F
2. Boyke Wibowo Mukijat *) 2011 60.00 09-Jul-12 10-Jul-12 12-Jul-12 26-Jul-12 F
3. M. Chatib Basri *) 2012 35.26 12-Jul-13 15-Jul-13 17-Jul-13 31-Jul-13 F
4. Richard Bruce Ness 2017 108.05 04-May-18 07-May-18 09-May-18 30-May-18 F
ISSUED HISTORY
1. M. Arsjad Rasjid P.M. No. Type of Listing Shares Date Date
2. Azis Armand 1. First Issue 937,284,000 11-Jun-08 11-Jun-08
3. Eddy Junaedy Danu 2. Company Listing 4,269,858,000 11-Jun-08 11-Jun-08
3. ESOP/MSOP I 3,050,000 15-Aug-11 15-Aug-11
AUDIT COMMITTEE
1. Boyke Wibowo Mukijat
2. Maringan Purba Sibarani
3. Tonyadi Halim
CORPORATE SECRETARY
Dian Paramita
HEAD OFFICE
Graha Mitra 11st Floor
Jl. Jend. Gatot Subroto Kav. 21
Jakarta 12930
Phone : (021) 2557-9888
Fax : (021) 2557-9889
Homepage : www.indikaenergy.com
Email : corporate.secretary@indikaenergy.co.id
investor.relations@indikaenergy.co.id


TRADING ACTIVITIES
Indika Energy Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,600 4,000 Jan-14 610 490 540 13,260 115,674 63,943 20
Feb-14 585 520 560 10,905 106,109 59,249 20
4,025 3,500 Mar-14 635 555 585 10,338 168,106 101,684 20
Apr-14 665 565 620 13,622 111,362 68,296 20
May-14 740 600 685 18,184 214,151 142,362 18
3,450 3,000
Jun-14 750 610 630 11,941 191,524 132,361 21
Jul-14 710 625 695 7,527 66,035 43,860 18
2,875 2,500
Aug-14 740 680 735 7,194 80,267 57,434 20
Sep-14 815 720 740 9,323 82,707 63,843 22
2,300 2,000
Oct-14 750 600 635 17,748 101,228 65,223 23
Nov-14 635 535 560 7,037 82,084 68,190 20
1,725 1,500 Dec-14 575 500 510 7,740 69,660 54,300 20
1,150 1,000 Jan-15 520 485 492 7,607 35,047 17,527 21

Feb-15 497 451 454 6,032 28,473 15,705 19
575 500 Mar-15 483 426 434 6,109 20,037 9,043 22
Apr-15 435 290 290 5,225 40,432 43,273 21
May-15 431 300 370 13,977 122,227 48,472 19
Jun-15 380 310 315 8,424 58,486 19,126 21
Jul-15 328 286 290 4,820 21,616 6,666 19
Aug-15 308 203 229 4,313 24,360 6,299 20
Sep-15 245 185 193 3,919 52,357 13,071 21
Mining Index Nov-15 185 130 131 11,617 209,414 36,527 21
January 2014 - July 2018 Dec-15 137 105 110 8,269 103,690 12,226 19
665%
Jan-16 122 106 114 3,895 103,643 11,632 20
570% Feb-16 155 110 130 14,672 517,201 66,855 20
Mar-16 377 130 345 42,267 1,241,280 263,517 15
500.0%
475% Apr-16 520 252 482 82,558 1,986,792 758,879 21
May-16 685 434 610 42,863 1,044,249 582,330 20
380% Jun-16 685 510 540 22,899 322,078 194,408 22
Jul-16 710 515 605 16,170 278,462 179,816 16
Aug-16 785 595 675 31,600 536,205 380,852 22
285%
Sep-16 720 580 615 14,841 157,366 103,408 21
Oct-16 740 625 655 22,857 386,440 269,639 21
190%
Nov-16 1,005 660 780 68,659 1,141,134 985,976 22
Dec-16 850 670 705 17,806 215,086 165,322 20
95%
49.0%
37.2% Jan-17 835 670 775 18,045 261,995 195,352 21
- Feb-17 795 715 740 12,991 116,998 87,920 19
Mar-17 775 680 710 12,068 119,066 86,251 22
-95% Apr-17 925 690 900 33,266 597,558 475,201 17
Jan 14 Jan 15 Jan 16 Jan 17 Jan 18 May-17 1,320 735 800 162,883 3,481,848 3,302,562 20
Jun-17 875 780 785 33,223 564,355 470,501 15
Jul-17 965 750 825 56,049 1,028,383 885,407 21
SHARES TRADED 2014 2015 2016 2017 Jul-18 Aug-17 1,345 840 1,270 92,057 1,414,547 1,479,796 22
Volume (Million Sh.) 1,389 777 7,930 14,211 2,952 Sep-17 2,150 1,265 1,940 115,549 1,504,573 2,694,415 19
Days 242 244 240 238 138 Dec-17 3,230 2,380 3,060 68,142 520,694 1,497,580 18
Price (Rupiah) Jan-18 4,630 3,070 4,470 113,819 635,056 2,489,866 22

High 815 520 1,005 3,230 4,630 Feb-18 4,560 4,020 4,320 78,823 416,333 1,767,923 19
Low 490 105 106 670 3,040 Mar-18 4,340 3,270 3,530 90,996 534,214 1,895,873 21
Close 510 110 705 3,060 3,600 Apr-18 3,970 3,390 3,410 73,624 319,874 1,192,641 21
Close* 510 110 705 3,060 3,600 May-18 4,030 3,450 3,740 84,921 343,230 1,292,876 20
Jun-18 4,130 3,280 3,420 60,754 290,199 1,107,304 13
PER (X) -16.82 -0.93 -12.99 3.51 5.84 Jul-18 3,890 3,040 3,600 90,351 413,036 1,417,238 22
PER Industry (X) 20.04 9.49 8.16 16.02 6.85
PBV (X) 0.23 0.05 0.35 1.06 1.15


Receivables 2,264,416 2,633,032 1,690,671 5,245,241 6,059,391

169,083 141,471 119,744 1,035,430 666,846 50,000
Inventories
Current Assets 10,339,531 12,125,907 8,967,673 18,341,097 20,405,094
37,500
Fixed Assets 8,212,926 8,741,246 6,960,807 8,272,594 8,449,492
25,000
Total Assets 28,482,821 31,519,075 24,484,867 49,256,537 51,488,149
Growth (%) 10.66% -22.32% 101.17% 4.53% 12,500

Growth (%) 12.82% -24.85% 135.08% 3.19%
Paid up Capital 521,019 521,019 521,019 521,019 521,019 16,249 15,106

12,188
Par Value 100 100 100 100 100
12,934
11,348
9,958
Total Equity 11,347,885 12,187,946 9,957,548 15,106,322 16,248,903
9,619
Growth (%) 7.40% -18.30% 51.71% 7.56% 6,305
Total Revenues 13,797,845 16,083,075 10,416,030 14,886,004 11,128,954

Growth (%) 16.56% -35.24% 42.91%
-325
2014 2015 2016 2017 Mar-18
Cost of Revenues 11,795,206 14,788,427 9,224,232 13,220,726 7,981,634

Gross Profit 2,002,639 1,294,647 1,191,798 1,665,277 3,147,321
Expenses (Income) 2,031,295 2,582,624 2,737,032 -2,400,695 1,231,581
Operating Profit - - - - 2,397,170 16,083
14,886
Growth (%)
16,083
13,798
11,129
12,802
Other Income (Expenses) - - - - - 10,416
Income before Tax -28,657 -1,287,977 -1,545,234 4,065,972 1,915,739 9,521
Tax 350,628 -161,630 144,790 -291,514 1,014,184

Profit for the period -379,285 -1,126,347 -1,400,444 4,357,486 901,556 6,240
Growth (%) -196.97% -24.34% N/A

2,959
Period Attributable -342,174 -653,525 -908,194 4,544,230 802,903 -322
Comprehensive Income -380,107 -1,084,862 -1,378,081 4,358,582 910,656 2014 2015 2016 2017 Mar-18
Comprehensive Attributable -342,996 -612,040 -885,831 4,545,326 812,004
Current Ratio (%) 209.56 163.63 213.25 205.28 211.22
4,357
Dividend (Rp) - - - 108.05 - 4,357
EPS (Rp) -65.67 -125.43 -174.31 872.18 154.10

BV (Rp) 2,178.02 2,339.25 1,911.17 2,899.38 3,118.68 3,206
DAR (X) 0.60 0.61 0.59 0.69 0.68

DER(X) 1.51 1.59 1.46 2.26 2.17
2,054
902
ROA (%) -1.33 -3.57 -5.72 8.85 1.75 903
ROE (%) -3.34 -9.24 -14.06 28.85 5.55 2014 2015 2016
GPM (%) 14.51 8.05 11.44 11.19 28.28
2017 Mar-18
-249
OPM (%) - - - - 21.54 -379

NPM (%) -2.75 -7.00 -13.45 29.27 8.10
-1,400
-1,126
-1,400
Payout Ratio (%) - - - 12.39 -
Yield (%) - - - 3.53 -

COMPANY REPORT
INKP
INDAH KIAT PULP & PAPER TBK.
Company Profile
PT Indah Kiat Pulp & Paper Tbk (“the Company”) was established in the Republic of Indonesia under
the framework of the Foreign Capital Investment Law No. 1 of 1967, based on the Notarial Deed of
Ridwan Suselo No. 68 dated December 7th, 1976.
Based on the revised Article 3 of the Company’s Articles of Association, the Company is engaged in
manufacturing, trading, mining and forestry. Currently, the Company is engaged in manufacturing of
paper, pulp and packaging.
The Company now has production facilities in three locations: Perawang - Riau, Tangerang and Serang,
Banten. The Company’s main business activities are the production of pulp, various types of culture
papers consisting of printing and writing paper (coated and uncoated freesheet) and photocopy paper.
The Company also produces industrial paper, i.e packaging paper which comprises: containerboard
(linerboard and corrugated medium), corrugated shipping containers (converted from
containerboard), boxboard, food packaging and specialty colored papers
The Company has direct ownership in subsidiaries: Indah Kiat International Finance Company B.V.
Indah Kiat Finance Mauritius Limited, IK Trading Limited, Indah Kiat Finance (IV) Mauritius Limited,
Indah Kiat Finance (IV) Mauritius Limited, IK Import & Export Limited, Indah Kiat Finance (VIII)
Mauritius Limited, Global Fibre Limited, Imperial Investment Limited, Indah Kiat Finance B.V., PT Graha
Kemasindo Indah and PT Paramitra Abadimas Cemerlang and PT Paramitra Gunakarya Cemerlang. And
indirect ownership in subsidiary PT Sinar Mas Specialty Minerals.
The Company is domiciled in Central Jakarta with its head office located at Sinar Mas Land Plaza Tower
2, 7th Floor, Jl. M.H Thamrin No.51 Jakarta 10350. The Company and subsidiaries as of June 30th, 2018,
were approximately 13 thousand.
August 2018
Disclaimer:


INKP Indah Kiat Pulp & Paper Tbk.

Industry Sub Sector : Pulp & Paper (38) Market Capitalization : 105,042,872,467,200
11 | 105.0T | 1.57% | 47.75%
11 | 34.9T | 1.75% | 37.37%

Established Date : 07-Dec-1976 1. PT Purinusa Ekapersada 1,634,179,935 : 29.87%
Listing Date : 16-Jul-1990 2. PT Purinusa Ekapersada 1,250,293,563 : 22.85%
PT Ficorinvest
PT Jardine Fleming Nusantara DIVIDEND ANNOUNCEMENT
PT Nomura Indonesia Bonus Cash Recording Payment
F/I
PT Inter-Pacific Year Shares Dividend Cum Date Ex Date Date Date
PT Bank Pembangunan Indonesia 1990 5:1 16-Jan-91 17-Jan-91 25-Jan-91 06-Feb-91 F
Securities Administration Bureau : 1990 4:1 100.00 29-Oct-91 30-Oct-91 15-Nov-91 16-Dec-91
PT Sinartama Gunita 1991 2:1 12-Aug-92 13-Aug-92 21-Aug-92 18-Sep-92 F
1992 50.00 09-Nov-92 10-Nov-92 17-Nov-92 26-Nov-92 I
BOARD OF COMMISSIONERS 1993 100:40 25.00 11-Aug-94 12-Aug-94 22-Aug-94 22-Sep-94 F
1. Saleh Husin 1994 1000 : 24 35.00 04-Sep-95 05-Sep-95 13-Sep-95 12-Oct-95 F
2. Arthur Tahya 1994 100 : 11 02-Nov-95 03-Nov-95 13-Nov-95 12-Dec-95 BS
3. Deddy Saleh *) 1995 100 : 8 & 100 : 13 35.00 23-Aug-96 26-Aug-96 03-Sep-96 02-Oct-96 F
4. Kosim Sutiono 1996 35.00 07-Jul-97 08-Jul-97 16-Jul-97 14-Aug-97 F
5. Pande Putu Raka *) 2013 25.00 17-Oct-14 20-Oct-14 22-Oct-14 05-Nov-14 F
6. Ramelan *) 2014 10.00 02-Jul-15 03-Jul-15 07-Jul-15 29-Jul-15 F
7. Sukirta Mangku Djaja 2014 25.00 02-Jul-15 03-Jul-15 07-Jul-15 29-Jul-15 F
*) Independent Commissioners 2015 25.00 12-Jul-16 13-Jul-16 15-Jul-16 29-Jul-16 F
2016 30.00 19-Jun-17 20-Jun-17 22-Jun-17 14-Jul-17 F
BOARD OF DIRECTORS 2017 100.00 04-Jul-18 05-Jul-18 09-Jul-18 27-Jul-18 F
1. Hendra Jaya Kosasih
2. Agustian Rachmansjah Partawidjaja ISSUED HISTORY
3. Didi Harsa Listing Trading
4. Heri Santoso No. Type of Listing Shares Date Date
5. Kurniawan Yuwono 1. First Issue 60,000,000 16-Jul-90 16-Jul-90
6. Lan Cheng Ting 2. Partial Listing 231,348,635 T: 16-Jul-90 : 03-Sep-97
7. lioe Djohan / Djohan Gunawan 3. Bonus Shares 677,845,337 T: 11-Feb-91 : 03-Oct-96
8. Suhendra Wiriadinata 4. Koperasi 4,333,125 T: 28-Jun-93 : 01-Jan-00
9. Suresh Kilam 5. Stock Dividend 100,237,392 T: 13-Oct-95 : 03-Oct-96
10. Suryamin Halim 6. Right Issue 1,561,046,740 T: 15-Apr-96 : 11-Jul-97
7. Warrant I 302,527,512 T: 01-Nov-96 : 30-Apr-01
AUDIT COMMITTEE 8. Bonus Shares, Stocks Dividend, & Right Issue 1,712,297,882 03-Sep-97 03-Sep-97
1. Ramelan 9. Warrant II 165,772,790 T: 09-Feb-98 : 16-Apr-01
2. Aditiawan Chandra 10. Warrant I & Company Listing 655,573,528 22-Dec-00 22-Dec-00
3. Deddy Saleh
CORPORATE SECRETARY
Agustian R. Partawijaya
HEAD OFFICE
Plaza BII Menara II, fl. 9,
Jl. Mh. Thamrin No.51
Jakarta
Phone : (021) 3929266
Fax : (021) 3927685
Homepage : www.app.co.id
Email : yan_partawijaya@app.co.id


TRADING ACTIVITIES
Indah Kiat Pulp & Paper Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
22,000 320 Jan-14 1,440 1,125 1,285 8,973 67,684 85,937 20
Feb-14 1,415 1,240 1,370 7,866 50,533 68,818 20
19,250 280 Mar-14 1,530 1,355 1,490 10,206 126,972 185,841 20
Apr-14 1,505 1,265 1,350 7,429 50,000 69,443 20
May-14 1,395 1,215 1,395 8,233 65,216 86,569 18
16,500 240
Jun-14 1,480 1,320 1,340 6,040 41,103 58,039 21
Jul-14 1,395 1,315 1,370 5,540 21,705 29,506 18
13,750 200
Aug-14 1,365 1,315 1,340 3,981 17,227 23,096 20
Sep-14 1,340 1,040 1,055 15,212 36,811 44,005 22
11,000 160
Oct-14 1,185 1,025 1,150 5,574 14,338 15,465 23
Nov-14 1,190 1,100 1,175 3,197 11,371 13,143 20
8,250 120 Dec-14 1,180 1,015 1,045 3,882 30,867 44,461 20
5,500 80 Jan-15 1,115 1,030 1,090 3,515 11,737 12,531 21

Feb-15 1,095 930 930 6,009 43,736 43,756 19
2,750 40 Mar-15 1,000 910 995 4,501 25,798 24,184 22
Apr-15 1,150 920 1,120 2,489 15,511 16,177 21
May-15 1,200 1,000 1,000 5,143 23,229 25,649 19
Jun-15 1,030 865 895 4,860 19,319 17,711 21
Jul-15 990 860 960 4,687 18,971 17,314 19
Aug-15 1,040 755 780 15,167 37,469 32,478 20
Sep-15 845 720 790 4,074 15,532 12,359 21
Basic Industry and Chemicals Index Nov-15 1,050 830 950 5,973 32,820 32,195 21
January 2014 - July 2018 Dec-15 985 855 955 2,423 63,809 57,621 19
1,400%
Jan-16 960 910 935 1,446 12,410 11,608 20
1252.1%
1,200% Feb-16 955 845 885 3,264 16,357 14,456 20
Mar-16 1,000 885 960 7,476 45,577 42,923 21
1,000% Apr-16 1,080 900 1,000 10,381 98,857 101,308 21
May-16 995 880 900 4,335 33,419 30,523 20
800% Jun-16 930 875 920 2,930 18,490 16,728 22
Jul-16 1,100 900 1,050 6,732 61,863 62,838 16
Aug-16 1,205 980 1,040 9,372 106,464 112,254 22
600%
Sep-16 1,070 950 985 1,878 256,344 232,420 21
Oct-16 1,085 950 1,060 3,922 118,470 118,638 21
400%
Nov-16 1,100 950 975 1,715 27,331 27,273 22
Dec-16 990 935 955 2,088 41,548 39,944 20
200%
61.3% Jan-17 1,185 955 1,045 6,898 88,249 96,634 21

- 37.2% Feb-17 1,270 1,030 1,260 3,736 41,713 47,977 19
Mar-17 1,360 1,050 1,310 6,286 61,790 76,930 22
-200% Apr-17 2,130 1,300 2,080 25,071 176,155 305,497 17
Jun-17 2,690 2,350 2,550 14,735 88,552 221,656 15
Jul-17 3,050 2,400 2,770 18,204 327,713 850,564 21
Volume (Million Sh.) 534 322 837 2,191 2,182 Sep-17 4,390 3,060 4,190 46,240 249,294 864,922 19
Value (Billion Rp) 724 304 811 6,688 30,471 Oct-17 5,275 4,110 5,275 39,899 124,446 563,713 22
Days 242 244 246 238 138 Dec-17 5,525 4,550 5,400 143,322 174,093 853,880 18
Price (Rupiah) Jan-18 9,450 5,350 9,375 57,695 219,024 1,516,362 22

High 1,530 1,200 1,205 6,000 20,700 Feb-18 10,975 7,600 10,750 64,196 209,190 1,891,880 19
Low 1,015 720 845 955 5,350 Mar-18 12,525 10,400 11,000 94,787 380,376 4,348,198 21
Close 1,045 955 955 5,400 19,200 Apr-18 13,425 10,675 13,200 85,825 251,187 3,006,678 21
Close* 1,045 955 955 5,400 19,200 May-18 18,700 13,000 18,700 123,519 591,381 9,610,522 20
Jun-18 20,700 16,275 18,600 115,011 238,060 4,641,131 13
PER (X) 4.00 1.70 3.11 5.71 10.71 Jul-18 20,375 14,650 19,200 135,104 292,771 5,455,934 22
PER Industry (X) 16.60 4.10 20.86 13.10 13.08
PBV (X) 0.20 0.14 0.15 0.71 2.07


Public Accountant : Y. Santosa & Partners
Receivables 13,366,524 9,064,387 9,170,460 11,814,181 14,653,837

10,831,234 12,687,216 13,137,210 12,864,639 15,113,555 100,000
Inventories
Current Assets 20,612,745 30,400,963 29,384,250 42,613,188 54,176,714
75,000
Fixed Assets 54,651,159 62,844,189 54,328,802 51,965,481 55,328,357
Other Assets 85,846 1,476,488 1,113,468 - 521,814
50,000
Total Assets 81,073,679 103,162,005 92,423,557 103,428,629 119,080,475
Growth (%) 27.24% -10.41% 11.91% 15.13% 25,000

Growth (%) 26.59% -15.72% 9.71% 14.33%
Paid up Capital 5,470,983 5,470,983 5,470,983 5,470,983 5,470,983
43,593
50,670

38,447 37,881
Par Value 1,000 1,000 1,000 1,000 1,000
40,333
Retained Earnings 2,650,982 6,171,989 8,246,399 13,746,370 18,954,627 29,951
Total Equity 29,950,514 38,446,703 37,881,270 43,592,682 50,670,218

29,997
Growth (%) 28.37% -1.47% 15.08% 16.24% 19,660
Total Revenues 32,769,320 41,542,013 36,552,275 42,377,169 23,922,206

Growth (%) 26.77% -12.01% 15.94%
-1,013
2014 2015 2016 2017 Jun-18
Cost of Revenues 27,126,050 32,601,419 28,742,385 30,136,158 15,032,259

Gross Profit 5,643,270 8,940,594 7,809,890 12,241,011 8,889,947
Expenses (Income) 3,253,357 4,145,688 3,954,215 4,075,807 1,853,680
Growth (%) 100.63% -19.59% 111.77% 36,552

42,377
32,769
33,732
Other Income (Expenses) -819,147 -1,425,686 -1,903,290 -1,972,589 -852,558

23,922
Tax 1,915 104,416 -771,831 593,470 1,278,369

Growth (%) 108.10% -16.56% 105.53%

7,797
Comprehensive Attributable 1,568,714 3,414,612 2,770,664 -5,561,657 4,887,349
Current Ratio (%) 138.11 140.17 159.83 209.28 234.87
5,599
Dividend (Rp) 35.00 25.00 30.00 100.00 -
4,905
5,599
EPS (Rp) 286.73 596.84 497.82 1,023.24 896.47

BV (Rp) 5,474.43 7,027.38 6,924.03 7,967.98 9,261.63 4,457
DAR (X) 0.63 0.63 0.59 0.58 0.57 3,265

1.71 1.68 1.44 1.37 1.35 2,724
DER(X)
3,315
ROA (%) 1.94 3.16 2.95 5.41 4.12

1,569
2,172
ROE (%) 5.24 8.49 7.19 12.84 9.68

GPM (%) 17.22 21.52 21.37 28.89 37.16 1,030
OPM (%) 7.29 11.54 10.55 19.27 29.41

NPM (%) 4.79 7.86 7.45 13.21 20.51
-112
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 12.21 4.19 6.03 9.77 -
Yield (%) 3.35 2.62 3.14 1.85 -

C
COOM
MPPA
ANNY
Y R
REEP
POOR
R TT
INTP
INDOCEMENT TUNGGAL
PRAKARSA TBK.
Company Profile
PT Indocement Tunggal Prakarsa Tbk. was incorporated on January 16th, 1985. The Company’s history
cannot be separated from the establishment of PT Distinct Indonesia Cement Enterprise (DICE) in 1975
that managed a cement plant in Citeureup, West Java that had an annual installed production capacity
of 500,000 tons.
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 currently has 13 factories with a total annual production capacity of 24.9 million tons of
cement. Ten factories are located at Citeureup Factory, Bogor, West Java; two factories at the Palimanan
Factory, Cirebon, West Java; and one factory in Tarjun Factory, Kotabaru, South Kalimantan. 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, a cement distributor,
 PT Indomix Perkasa, a ready-mix concrete manufacturer,
 PT Sari Bhakti Sejati, an investment company,
 PT Makmur Abadi Perkasa Mandiri, an investment company,
 PT Lentera Abadi Sejahtera, an investment company.
At the end of 2017, for the third time in a row, the factory complexes of PT Indocement Tunggal Prakarsa
Tbk. ("Indocement") was awarded the Level 5 Green Industry from the Ministry of Industry and PT
Indocement Tunggal Prakarsa Tbk. was Rewarded with Platinum Title in Environment in the Indonesia
CSR Award 2017 for their mangrove conservasion.
The company’s head office is located at Wisma Indocement 8th Floor, Jl. Jend Sudirman Kav. 70-71
Jakarta, while the factories are located in Citeureup - West Java, Palimanan - West Java, and Tarjun -
South Kalimantan. HeidelbergCement AG is the ultimate parent company of the Group. The Group had a
total of 6,949 permanent employees as of June 30th, 2018.
August 2018
Disclaimer:
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.

INTP Indocement Tunggal Prakarsa Tbk.

Industry Sub Sector : Cement (31) Market Capitalization : 51,997,397,748,375
22 | 52.0T | 0.78% | 59.01%
52 | 10.2T | 0.51% | 74.53%

Established Date : 16-Jan-1985 1. Birchwood Omnia Limited 1,877,480,863 : 51.00%
Underwriter IPO :
PT (Persero) Danareksa DIVIDEND ANNOUNCEMENT
PT Merchant Investment Corporation Bonus Cash Recording Payment
F/I
PT Multicor 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
1992 250.00 01-Jul-93 02-Jul-93 09-Jul-93 10-Aug-93 F
1. Kevin Gerard Gluskie 1993 1:1 12-Aug-94 15-Aug-94 23-Aug-94 23-Sep-94 BS
2. Albert Scheuer 1994 120.00 19-Jul-95 20-Jul-95 28-Jul-95 25-Aug-95 F
3. Bernhard Schelfele 1995 40.00 23-Aug-95 24-Aug-95 01-Sep-95 29-Sep-95 I
4. Lorenz Naeger 1995 120.00 12-Jul-96 15-Jul-96 23-Jul-96 21-Aug-96 F
5. Simon Subrata *) 1996 70.00 11-Jul-97 14-Jul-97 23-Jul-97 21-Aug-97 F
6. Tedy Djuhar *) 1996 10:3 08-Sep-97 09-Sep-97 17-Sep-97 30-Sep-97 I
2006 30.00 27-Jun-07 28-Jun-07 02-Jul-07 16-Jul-07 I
BOARD OF DIRECTORS 2007 40.00 05-Jun-08 06-Jun-08 10-Jun-08 24-Jun-08 F
1. Christian Kartawijaya 2008 150.00 02-Jun-09 03-Jun-09 05-Jun-09 19-Jun-09 F
2. Benny Setiawan Santoso 2009 225.00 21-Jun-10 22-Jun-10 24-Jun-10 07-Jul-10 F
3. David Jonathan Clarke 2010 263.00 17-Jun-11 20-Jun-11 22-Jun-11 07-Jul-11 F
4. Franciscus Wellirang 2011 293.00 18-Jun-12 19-Jun-12 21-Jun-12 05-Jul-12 F
5. Hasan Imer 2012 450.00 20-Jun-13 21-Jun-13 25-Jun-13 09-Jul-13 F
6. Juan Francisco Defalque 2013 900.00 19-Jun-14 20-Jun-14 24-Jun-14 08-Jul-14 F
7. Kuky Permana Kumalaputra 2014 1,350.00 21-May-15 22-May-15 26-May-15 17-Jun-15 F
8. Ramakanta Bhattacharjee 2015 415.00 17-May-16 18-May-16 20-May-16 10-Jun-16 F
9. Troy Dartojo Soputro 2016 929.00 30-May-17 31-May-17 05-Jun-17 22-Jun-17 F
2017 700.00 30-May-18 31-May-18 05-Jun-18 22-Jun-18 F
AUDIT COMMITTEE
1. Simon Subrata ISSUED HISTORY
2. Jusuf Halim Listing Trading
3. Lindawati Gani No. Type of Listing Shares Date Date
1. First Issue 89,832,150 05-Dec-89 05-Dec-89
CORPORATE SECRETARY 2. Koperasi 6,000,000 T: 26-Jun-92 : 31-Dec-99
Oey Marcos 3. Founder Shares 946,119 T: 07-Mar-94 : 02-Sep-94
4. Convertible Bond 8,555,640 T: 07-Mar-94 : 10-Nov-94
HEAD OFFICE 5. Bonus Shares 599,790,020 T: 12-Sep-94 : 26-Sep-94
Wisma Indocement, 13rd Floor 6. Company Listing 502,102,731 12-Sep-94 12-Sep-94
Jl. Jend. Sudirman Kav.70-71 7. Stock Split 1,207,226,660 02-Sep-96 02-Sep-96
Jakarta 12910 8. Additional Listing 69,863,127 09-Jan-01 09-Jan-01
Phone : (021) 251-2121, 252-2121,570-3817 9. Right Issue 1,196,907,072 24-Apr-01 24-Apr-01
Fax : (021) 570-1693 10. Warrant 8,180 12-May-03 12-May-03
Homepage : www.indocement.com
Email : corpsec@indocement.co.id
investor.relations@indocement.co.id


TRADING ACTIVITIES
Indocement Tunggal Prakarsa Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
28,000 160 Jan-14 22,500 19,825 22,400 42,897 63,573 1,340,256 20
Feb-14 22,850 20,800 22,450 36,786 53,504 1,170,267 20
24,500 140 Mar-14 27,300 21,550 23,375 50,809 82,794 1,947,053 20
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
21,000 120
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
17,500 100
Aug-14 25,500 24,000 24,250 48,865 66,643 1,636,144 20
Sep-14 24,700 21,125 21,550 49,050 85,318 1,981,406 22
14,000 80
Oct-14 24,275 20,800 24,000 64,236 86,327 1,966,007 23
Nov-14 24,975 22,475 24,675 37,852 62,863 1,508,616 20
10,500 60 Dec-14 25,725 22,900 25,000 46,054 59,966 1,479,007 20
7,000 40 Jan-15 25,500 21,325 23,000 59,898 112,706 2,596,245 21

Feb-15 24,325 22,650 24,050 38,270 51,124 1,209,902 19
3,500 20 Mar-15 24,300 20,475 21,925 53,486 87,898 1,969,041 22
Apr-15 23,700 20,700 21,000 39,145 67,087 1,500,898 21
May-15 23,425 21,100 22,400 41,944 185,783 4,180,361 19
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
Aug-15 20,200 16,175 19,625 48,556 59,733 1,122,761 20
Sep-15 20,050 16,000 16,450 48,472 44,373 811,929 21
Basic Industry and Chemicals Index Nov-15 21,400 17,900 18,700 51,050 54,994 1,085,736 21
January 2014 - July 2018 Dec-15 22,800 19,025 22,325 37,676 33,403 693,474 19
75%
Jan-16 22,425 18,075 19,700 63,144 74,904 1,483,571 20
60% 61.3% Feb-16 20,300 18,450 20,025 49,336 64,737 1,263,594 20
Mar-16 20,850 19,250 19,725 43,398 63,350 1,282,258 21
45% Apr-16 20,800 19,550 19,725 27,722 38,762 774,930 21
37.2% May-16 19,550 15,525 16,650 56,302 74,033 1,266,067 20
30% Jun-16 16,875 15,550 16,875 38,912 41,403 674,323 22
Jul-16 17,300 16,350 17,075 40,954 185,206 2,938,432 16
Aug-16 19,400 17,000 17,700 46,606 328,271 5,603,734 22
15%
Sep-16 18,400 16,900 17,350 38,832 41,799 737,059 21
Oct-16 18,225 16,250 16,450 37,638 120,944 1,892,755 21
-
Nov-16 16,600 14,275 15,975 41,996 44,920 688,693 22
Dec-16 16,800 14,675 15,400 28,099 32,276 518,964 20
-15%
Jan-17 16,000 14,600 15,025 24,266 23,885 368,934 21

-30% -30.6% Feb-17 16,100 15,100 15,150 24,219 24,366 378,430 19
Mar-17 16,875 15,175 16,600 32,509 53,083 845,082 22
-45% Apr-17 17,200 15,975 16,950 20,014 36,865 610,964 17
Jun-17 18,775 17,500 18,450 35,966 46,831 852,149 15
Jul-17 18,975 17,150 17,500 33,868 47,917 863,926 21
Volume (Million Sh.) 874 991 1,111 543 326 Sep-17 19,650 18,325 18,900 27,230 32,263 612,834 19
Days 242 244 246 238 138 Dec-17 22,000 18,375 21,950 42,780 43,774 872,279 18
Price (Rupiah) Jan-18 23,400 20,725 21,800 49,107 33,837 753,002 22

High 27,500 25,500 22,425 23,950 23,400 Feb-18 22,725 19,875 21,975 40,068 32,639 695,297 19
Low 19,825 16,000 14,275 14,600 12,500 Mar-18 21,975 15,850 16,000 50,394 48,623 908,210 21
Close 25,000 22,325 15,400 21,950 14,125 Apr-18 19,875 15,550 17,725 48,725 56,878 1,009,561 21
Close* 25,000 22,325 15,400 21,950 14,125 May-18 19,600 16,025 17,625 57,272 48,873 861,097 20
Jun-18 17,875 12,875 13,650 43,985 52,413 797,378 13
PER (X) 18.57 18.86 13.51 43.45 73.21 Jul-18 15,175 12,500 14,125 43,687 52,803 728,610 22
PER Industry (X) 16.60 4.10 20.86 13.10 13.08
PBV (X) 3.96 3.44 2.23 3.29 2.33


Receivables 2,670,993 2,534,690 2,616,979 2,503,780 2,541,861

1,665,546 1,521,197 1,780,410 1,768,603 2,003,688 25,000
Inventories
Current Assets 16,086,773 13,133,854 14,424,622 12,883,074 10,721,283
18,750
Fixed Assets 12,143,632 13,813,892 14,643,695 14,979,453 14,644,403
Other Assets 421,823 398,265 453,899 456,247 609,708
12,500
Total Assets 28,884,973 27,638,360 30,150,580 28,863,676 26,461,200
Growth (%) -4.32% 9.09% -4.27% -8.32% 6,250

Long Term Liabilities 839,613 1,084,667 824,135 828,145 803,877 2014 2015 2016 2017 Jun-18
Growth (%) -7.99% 6.35% 7.36% -4.23%
1,840,616 1,840,616 1,840,616 1,840,616 1,840,616 24,785 24,557
Paid up Capital 26,139
23,866
22,336
Par Value 500 500 500 500 500
20,806

Total Equity 24,784,801 23,865,950 26,138,703 24,556,507 22,336,317
15,474
Growth (%) -3.71% 9.52% -6.05% -9.04% 10,142
Total Revenues 19,996,264 17,798,055 15,361,894 14,431,211 6,484,408

Growth (%) -10.99% -13.69% -6.06%
-523
2014 2015 2016 2017 Jun-18
Cost of Revenues 10,909,595 9,888,919 9,030,433 9,423,490 4,784,836

Gross Profit 9,086,669 7,909,136 6,331,461 5,007,721 1,699,572
Expenses (Income) 3,111,676 2,852,206 2,686,866 3,132,876 1,444,837
-15.37% -27.93% -48.56% 17,798

Growth (%)
19,996
15,362
15,917
14,431
Income before Tax 6,789,602 5,645,111 4,146,379 2,287,989 426,435 11,838
Tax 1,515,593 1,288,450 276,060 428,171 71,329

6,484
Profit for the period 5,274,009 4,356,661 3,870,319 1,859,818 355,106 7,759
Growth (%) -17.39% -11.16% -51.95%

3,679
Period Attributable 5,270,872 4,356,661 3,870,319 1,859,818 355,106 -400
Comprehensive Income 5,153,776 4,258,600 3,800,464 1,837,668 356,672 2014 2015 2016 2017 Jun-18
Current Ratio (%) 493.37 488.66 452.50 370.31 322.83
5,274
Dividend (Rp) 1,350.00 415.00 929.00 700.00 - 5,274
EPS (Rp) 1,431.82 1,183.48 1,051.37 505.22 96.46 4,357

3,870
BV (Rp) 6,732.75 6,483.14 7,100.53 6,670.73 6,067.62 4,198
DAR (X) 0.14 0.14 0.13 0.15 0.16

DER(X) 0.17 0.16 0.15 0.18 0.18
3,122
ROA (%) 18.26 15.76 12.84 6.44 1.34 2,046

1,860
ROE (%) 21.28 18.25 14.81 7.57 1.59

GPM (%) 45.44 44.44 41.22 34.70 26.21
355
970
OPM (%) 29.88 28.41 23.72 12.99 3.93

NPM (%) 26.37 24.48 25.19 12.89 5.48
-105
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 94.29 35.07 88.36 138.55 -
Yield (%) 5.40 1.86 6.03 3.19 -

COMPANY REPORT
ITMG
INDO TAMBANGRAYA MEGAH TBK.
Company Profile
Established in 1987, PT Indo Tambangraya Megah Tbk. is a renowned Indonesian coal supplier for the world
energy market. The company strives to set the highest standard in corporate governance as well as
environmental, health and work safety compliance. All activities are carried out in close cooperation with
the local societies and other stakeholders. Since its establishment, the Company has been recognized as a
leading producer of coal and has built a diversified customer base. The scope of ITM business includes coal
mining operations, processing and logistics which are integrated in Indonesia. The company owns the
majority of shares in seven subsidiaries and operates six mining concessions in the island of Kalimantan,
covering East, Central and South Kalimantan. ITM also owns and operates Terminal Batubara Bontang
(Bontang Coal Terminal/BoCT), three loading ports and Pembangkit Listrik Bontang [Bontang Electricity
Generator].
The Company has direct ownership in PT Indominco Mandiri, PT Trubaindo Coal Mining, PT Jorong Barutama
Greston, PT Kitadin, PT Bharinto Ekatama, PT ITM Indonesia, PT ITM Batubara Utama, and PT ITM Energi
Utama, PT ITM Banpu Power, PT Tepian Indah Sukses, and PT GasEmas.
In 2017 the company received awards: CG Award as Best Non-Financial Listed Company for CG Performance,
Best Rescue Team earned by Emergency Response Team (ERT) of PT Trubaindo Coal Mining (TCM), Gold
Award for Mining and Energy Sector through BUMDES-based Water Supply Program in Central Santan
Village, Muara Kayu District, Kutai Kartanegara Regency, East Kalimantan, etc.
The company’s head Office is located at Pondok Indah Office Tower III, 3rd Floor Jalan Sultan Iskandar Muda
Jakarta 12310. As of June 30th, 2018, the Company and subsidiaries had 2,795 permanent employees.
August 2018
Disclaimer:
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.

ITMG Indo Tambangraya Megah Tbk.

34 | 32.2T | 0.48% | 66.33%
53 | 10.1T | 0.50% | 75.03%

Established Date : 02-Sep-1987 1. Banpu Minerals (Singapore) Private Limited 736,071,000 : 65.14%
Listing Date : 18-Dec-2007 2. Public (<5%) 393,854,000 : 34.86%
Underwriter IPO :
PT UBS Securities Indonesia DIVIDEND ANNOUNCEMENT
F/I
2007 155.00 06-May-08 07-May-08 09-May-08 23-May-08 F
BOARD OF COMMISSIONERS 2008 344.00 08-Oct-08 09-Oct-08 13-Oct-08 22-Nov-08 I
1. Djisman S. Simandjuntak *) 2008 295.00 01-Dec-08 02-Dec-08 04-Dec-08 19-Dec-08 I
2. Djoko Wintoro *) 2008 706.00 11-May-09 12-May-09 14-May-09 28-May-09 F
3. Fredi Chandra 2009 678.00 20-Oct-09 21-Oct-09 23-Oct-09 01-Nov-09 I
4. Somruedee Chaimongkol 2009 1,286.00 29-Apr-10 30-Apr-10 04-May-10 19-May-10 F
5. Somsak Sirhinamsuwan 2010 795.00 28-Sep-10 29-Sep-10 01-Oct-10 15-Oct-10 I
*) Independent Commissioners 2010 407.00 19-Apr-11 20-Apr-11 25-Apr-11 06-May-11 F
2011 1,168.00 28-Sep-11 29-Sep-11 03-Oct-11 14-Oct-11 I
BOARD OF DIRECTORS 2012 1,666.00 29-Oct-12 30-Oct-12 01-Nov-12 14-Nov-12 I
1. Kirana Limpaphayom 2012 1,464.00 26-Apr-13 29-Apr-13 01-May-13 15-May-13 F
2. A.H. Bramantya Putra 2013 1,014.00 29-Oct-13 30-Oct-13 01-Nov-13 15-Nov-13 I
3. Ignatius Wurwanto 2013 975.00 28-Apr-14 29-Apr-14 02-May-14 14-May-14 F
4. Jusnan Ruslan 2014 1,100.00 29-Oct-14 30-Oct-14 03-Nov-14 14-Nov-14 I
5. Mulianto 2014 645.00 08-Apr-15 09-Apr-15 13-Apr-15 24-Apr-15 I
6. Padungsak Thanakij 2015 752.00 08-Oct-15 09-Oct-15 13-Oct-15 26-Oct-15 I
7. Stephanus Demo Wamin 2015 60.56 04-Apr-16 05-Apr-16 07-Apr-16 21-Apr-16 F
8. Yulius Kurniawan Gozali 2016 434.32 07-Nov-16 08-Nov-16 10-Nov-16 24-Nov-16 I
2017 434.32 05-Apr-17 06-Apr-17 10-Apr-17 21-Apr-17 I
AUDIT COMMITTEE 2017 1,300.00 03-Nov-17 06-Nov-17 08-Nov-17 21-Nov-17 I
1. Djoko Wintoro 2017 1,840.00 02-Apr-18 03-Apr-18 05-Apr-18 20-Apr-18 F
2. Rudi Riady
3. Sidharta Utama ISSUED HISTORY
Listing Trading
Monika Ida Krisnamurti 1. First Issue 225,985,000 18-Dec-07 18-Dec-07
2. Company Listing 903,940,000 18-Dec-07 18-Aug-08
HEAD OFFICE
Pondok Indah Office Tower III, 3rd Floor
Jl. Sultan Iskandar Muda, Pondok Indah Kav. V-TA
Jakarta Selatan 12310
Phone : (021) 2932 8100
Fax : (021) 2932 7999
Homepage : www.itmg.co.id
Email : corsecitmg@banpuindo.co.id


TRADING ACTIVITIES
Indo Tambangraya Megah Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
32,000 40.0 Jan-14 28,700 24,850 26,800 40,294 30,444 792,755 20
Feb-14 28,550 25,100 26,000 34,416 23,323 622,390 20
28,000 35.0 Mar-14 26,150 22,350 24,350 41,387 38,547 941,922 20
Apr-14 26,725 23,950 25,475 37,248 41,019 1,032,303 20
May-14 30,250 24,875 28,650 30,442 26,577 724,102 18
24,000 30.0
Jun-14 30,100 26,500 27,000 25,672 15,751 444,016 21
Jul-14 27,600 24,850 26,150 35,242 21,517 568,758 18
20,000 25.0
Aug-14 29,450 25,775 28,175 36,220 26,395 744,484 20
Sep-14 29,500 25,075 25,975 27,702 15,967 432,678 22
16,000 20.0
Oct-14 27,050 19,350 21,175 81,720 76,365 1,613,718 23
Nov-14 21,300 17,350 19,025 54,192 64,940 1,230,510 20
12,000 15.0 Dec-14 18,900 15,050 15,375 49,907 55,439 918,673 20
8,000 10.0 Jan-15 16,750 14,275 16,750 48,405 38,476 585,918 21

Feb-15 18,600 16,075 16,900 32,776 39,761 684,377 19
4,000 5.0 Mar-15 18,000 16,275 16,900 46,182 36,351 626,636 22
Apr-15 17,300 12,600 12,600 46,877 37,151 584,571 21
May-15 15,550 12,525 13,500 46,615 78,935 1,108,530 19
Jun-15 13,850 12,600 12,850 48,533 41,585 549,214 21
Jul-15 13,175 9,525 9,725 26,690 21,821 245,713 19
Aug-15 10,850 7,975 9,350 30,749 29,449 277,187 20
Sep-15 9,900 8,100 9,875 28,666 27,087 245,130 21
Mining Index Nov-15 8,925 6,750 6,750 24,220 24,658 202,767 21
January 2014 - July 2018 Dec-15 6,850 5,525 5,725 24,270 29,270 192,832 19
100%
Jan-16 5,950 4,690 4,810 23,362 44,572 229,401 20
75% Feb-16 7,750 4,675 6,750 29,385 53,843 305,694 20
Mar-16 7,475 6,475 6,625 42,714 82,170 566,369 21
50% 49.0% Apr-16 8,025 6,525 7,800 28,232 50,523 361,480 21
37.2% May-16 9,000 7,650 8,750 17,522 27,244 225,659 20
25% Jun-16 9,500 8,075 9,375 19,616 27,660 242,970 22
Jul-16 12,575 9,175 12,575 24,683 26,783 302,830 16
Aug-16 13,000 10,400 11,375 23,973 23,258 279,616 22
- 1.3%
Sep-16 11,650 9,850 10,900 18,755 18,052 193,595 21
Oct-16 14,975 10,925 14,325 54,566 66,643 900,434 21
-25%
Nov-16 18,350 14,400 16,000 63,957 73,011 1,164,236 22
Dec-16 17,900 15,600 16,875 39,617 37,589 633,767 20
-50%
Jan-17 17,500 14,200 15,000 34,308 23,783 373,144 21

-75% Feb-17 17,675 14,875 17,600 31,252 32,264 520,837 19
Mar-17 20,500 16,150 20,200 48,027 47,736 870,645 22
-100% Apr-17 22,300 18,450 19,125 49,084 52,238 1,054,825 17
Jun-17 18,400 15,200 17,300 36,664 33,166 564,955 15
Jul-17 21,900 17,050 20,000 42,968 33,054 647,624 21
Volume (Million Sh.) 436 446 531 424 269 Sep-17 20,975 18,250 20,250 37,823 29,370 572,233 19
Days 242 244 246 238 138 Dec-17 21,600 20,000 20,700 24,723 19,228 399,902 18
Price (Rupiah) Jan-18 31,575 19,850 30,300 50,174 43,055 1,103,156 22

High 30,250 18,600 18,350 23,175 32,200 Feb-18 32,200 28,000 30,800 46,358 27,035 810,820 19
Low 15,050 5,525 4,675 14,200 19,850 Mar-18 31,200 25,725 28,500 65,843 47,443 1,324,672 21
Close 15,375 5,725 16,875 20,700 28,475 Apr-18 29,225 23,100 23,650 50,418 27,414 729,580 21
Close* 15,375 5,725 16,875 20,700 28,475 May-18 27,725 21,200 25,825 57,928 34,245 850,240 20
Jun-18 28,500 21,850 22,375 55,713 38,556 953,529 13
PER (X) 6.32 7.43 15.81 6.83 10.06 Jul-18 30,500 21,000 28,475 72,884 50,773 1,283,877 22
PER Industry (X) 3.23 0.60 -4.41 6.26 6.85
PBV (X) 1.47 0.56 1.67 1.80 2.68


Receivables 2,311,492 1,841,520 1,768,912 2,640,343 3,168,001

1,863,634 1,720,321 832,911 1,472,383 1,459,543 16,000
Inventories
Current Assets 7,082,961 7,509,045 7,242,058 10,797,702 10,173,862
12,000
Fixed Assets 3,552,816 3,731,584 3,006,923 3,014,931 3,063,155
Other Assets 135,142 108,814 167,372 181,652 203,629
8,000
Total Assets 16,258,180 17,271,266 16,254,765 18,407,166 18,864,314
Growth (%) 6.23% -5.89% 13.24% 2.48% 4,000

Long Term Liabilities 554,074 871,535 853,549 989,221 1,023,491 2014 2015 2016 2017 Jun-18
Growth (%) -0.86% -19.38% 33.57% 9.11%
Paid up Capital 564,963 564,963 564,963 564,963 564,963 12,232 12,192
11,175
12,981

Par Value 500 500 500 500 500
10,333

Total Equity 11,175,288 12,232,102 12,192,229 12,980,867 12,943,492
7,685
Growth (%) 9.46% -0.33% 6.47% -0.29% 5,037
Total Revenues 24,158,858 23,295,968 18,373,703 22,889,685 11,651,338

Growth (%) -3.57% -21.13% 24.58%
-260
2014 2015 2016 2017 Jun-18
Cost of Revenues 19,083,801 18,162,632 13,930,431 16,041,875 8,399,707

Gross Profit 5,075,057 5,133,336 4,443,272 6,847,810 3,251,631
Expenses (Income) 1,816,452 3,089,476 1,863,681 1,942,688 1,128,582
Operating Profit - - 2,579,591 4,905,121 - 24,159
23,296 22,890
Growth (%) 90.15%
24,159
18,374
19,230

11,651
Tax 768,694 1,118,901 823,385 1,481,501 646,495
Profit for the period 2,489,911 924,959 1,756,206 3,423,620 1,476,554 9,374
Growth (%) -62.85% 89.87% 94.94%

4,445
Period Attributable 2,489,911 924,959 1,756,206 3,422,333 1,482,964 -483
Comprehensive Income 2,489,911 945,010 1,795,815 3,382,976 1,255,150 2014 2015 2016 2017 Jun-18
Comprehensive Attributable 2,489,911 945,010 1,795,815 3,381,689 1,261,560
Current Ratio (%) 156.40 180.18 225.68 243.35 207.74
3,424
Dividend (Rp) 1,745.00 812.56 434.32 3,574.32 - 3,424
EPS (Rp) 2,203.61 818.60 1,554.27 3,028.81 1,312.44

2,490
BV (Rp) 9,890.29 10,825.59 10,790.30 11,488.26 11,455.18 2,725
DAR (X) 0.31 0.29 0.25 0.29 0.31

1,756
DER(X) 0.45 0.41 0.33 0.42 0.46
2,027
1,477
ROA (%) 15.31 5.36 10.80 18.60 7.83
925
1,328
ROE (%) 22.28 7.56 14.40 26.37 11.41

GPM (%) 21.01 22.04 24.18 29.92 27.91 630
OPM (%) - - 14.04 21.43 -

NPM (%) 10.31 3.97 9.56 14.96 12.67
-68
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 79.19 99.26 27.94 118.01 -
Yield (%) 11.35 14.19 2.57 17.27 -

C
COOM
MPPA
ANNY
Y R
REEP
POOR
RTT
JSMR
JASA MARGA (PERSERO) TBK.
Company Profile
PT Jasa Marga (Persero) Tbk. was established under the Government Regulation of the Republic of Indonesia
No. 4 Year 1978 regarding the State Capital Investment for the establishment of a State-Owned Company
(Persero) in the area of management, maintenance and development of toll roads, and the detailed
management regulations. The Company started its commercial operations in 1978.
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. Driven with the vision to be the largest, trusted, and sustainable national toll company,
Jasa Marga’s business characteristics are defensive and resistant to fluctuated condition of global economy.
Adding new toll road concessions is Jasa Marga’s main strategic plan. Currently, Jasa Marga has added 20
new toll road concessions with the total length of 680 km, through its subsidiaries, in which Jasa Marga is
the major shareholder. As total, Jasa Marga will manage 1497 KM of concession by the end of 2019.
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.
In 2017 PT Jasa Marga (Persero) Tbk. was awarded with Contact Center Service Excellence Award 2017 for
Public Service Catagory for the fifth time and on that year PT Jasa Marga Tbk was chosen as one of the
preferred issuers of analysts in the 2017 Yuk Nabung Saham Program from Indonesian Securities Analysts
Association & CSA Institute, and Social Business Innovation Award 2017 Category Toll Road Product from
Warta Ekonomi magazine.
The head office is located in Plaza Tol Taman Mini Indonesia Indah Jakarta 13550. The Company and its
subsidiaries had 7,403 permanent employees as of June 30th, 2018.
August 2018
Disclaimer:
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.

JSMR Jasa Marga (Persero) Tbk.

Industry Sub Sector : Toll Road, Airport, Harbor And Allied Products (72) Market Capitalization : 34,039,415,928,000
31 | 34.0T | 0.51% | 64.87%
42 | 11.5T | 0.57% | 69.11%

Underwriter IPO :
PT Danareksa Sekuritas (Affilliated) DIVIDEND ANNOUNCEMENT
PT Bahana Securities (Affilliated) Bonus Cash Recording Payment
F/I
PT Mandiri Sekuritas (Affiliated) 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
2009 87.91 28-Jun-10 29-Jun-10 01-Jul-10 15-Jul-10 F
1. Refly Harun *) 2011 78.88 04-Jun-12 05-Jun-12 07-Jun-12 21-Jun-12 F
2. Agus Suharyono 2012 94.24 29-May-13 30-May-13 03-Jun-13 18-Jun-13 F
3. Boediarso Teguh Widodo 2013 78.61 04-Apr-14 07-Apr-14 10-Apr-14 23-Apr-14 F
4. Muhammad Sapta Murti 2015 43.13 06-Apr-16 07-Apr-16 11-Apr-16 29-Apr-16 F
5. Sugihardjo 2016 78.09 22-Mar-17 23-Mar-17 27-Mar-17 13-Apr-17 F
6. Vincentius Sonny Loho *) 2017 60.63 17-Apr-18 18-Apr-18 20-Apr-18 11-May-18 F
ISSUED HISTORY
1. Desi Arryani No. Type of Listing Shares Date Date
2. Donny Arsal 1. First Issue 2,040,000,000 12-Nov-07 12-Nov-07
3. Hassanudin 2. Negara RI (Series A) 1 12-Nov-07 12-Nov-07
4. Kushartanto Koeswiranto 3. Company Listing 4,759,999,999 12-Nov-07 10-May-08
5. Mohammad Sofyan 4. Right Issue I 8,326,610 07-Dec-16 07-Dec-16
6. Subakti Syukur 5. Right Issue I 12,081,825 08-Dec-16 08-Dec-16
6. Right Issue I 331,269,578 09-Dec-16 09-Dec-16
AUDIT COMMITTEE 7. Right Issue I 64,014,959 13-Dec-16 13-Dec-16
1. Sigit Widyawan 8. Right Issue I 34,740,139 14-Dec-16 14-Dec-16
2. Agita Widjajanto 9. Right Issue I 7,438,089 16-Dec-16 16-Dec-16
3. Teguh Indra Prasetyo
CORPORATE SECRETARY
Mohamad Agus Setiawan
HEAD OFFICE
Tol Taman Mini Indonesia Indah Plaza
Jakarta - 13550
Phone : (021) 841-3630; 841-3526
Fax : (021) 841-3540
Homepage : www.jasamarga.com
Email : jsmr@jasamarga.co.id
investor.relations@jasamarga.co.id


TRADING ACTIVITIES
Jasa Marga (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
7,200 64.0 Jan-14 5,450 4,400 5,175 32,974 182,407 906,070 20
Feb-14 5,525 4,975 5,375 30,448 196,866 1,037,649 20
6,300 56.0 Mar-14 6,025 4,750 6,000 31,058 234,470 1,337,548 20
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
5,400 48.0
Jun-14 6,050 5,800 5,975 22,644 90,733 540,393 21
Jul-14 6,500 5,925 6,425 30,588 211,439 1,322,874 18
4,500 40.0
Aug-14 6,625 6,100 6,200 32,799 94,443 594,250 20
Sep-14 6,475 6,150 6,450 23,935 106,343 677,115 22
3,600 32.0
Oct-14 6,450 5,825 6,350 30,188 197,573 1,217,762 23
Nov-14 7,075 6,325 6,750 25,934 202,949 1,345,264 20
2,700 24.0 Dec-14 7,050 6,675 7,050 28,826 94,777 653,785 20
1,800 16.0 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
900 8.0 Mar-15 7,200 6,975 7,200 30,454 144,110 1,022,917 22
Apr-15 7,200 5,950 6,200 35,427 198,482 1,328,552 21
May-15 6,600 6,000 6,475 31,326 126,120 799,480 19
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
Aug-15 5,750 4,810 5,150 34,465 98,686 519,567 20
Sep-15 5,400 4,680 4,825 34,158 119,965 617,427 21
Infrastructure, Utilities and Transportation Index Nov-15 5,200 4,500 4,500 42,147 166,593 812,075 21
January 2014 - July 2018 Dec-15 5,250 4,575 5,225 48,841 129,847 631,845 19
60%
Jan-16 6,075 4,995 5,750 38,605 209,808 1,185,959 20
50% Feb-16 6,250 5,200 5,300 52,098 236,731 1,357,849 20
Mar-16 5,700 5,200 5,400 46,990 151,782 828,299 21
40% Apr-16 5,575 5,250 5,450 29,037 77,850 418,771 21
37.2% May-16 5,525 5,200 5,400 29,713 72,265 386,407 20
30% Jun-16 5,575 4,990 5,275 38,948 100,784 533,131 22
Jul-16 5,650 5,125 5,325 32,745 110,641 599,531 16
Aug-16 5,675 4,810 4,860 54,852 250,495 1,298,317 22
20%
Sep-16 4,910 4,550 4,600 62,806 270,766 1,285,309 21
Oct-16 4,750 4,500 4,530 41,089 179,268 830,658 21
10% 9.9%
Nov-16 4,750 3,900 4,150 68,921 274,572 1,174,674 22
Dec-16 4,570 4,110 4,320 51,067 248,754 1,084,481 20
- -0.5%
Jan-17 4,390 4,150 4,220 39,547 102,208 433,704 21
-10% Feb-17 4,990 4,210 4,780 62,258 236,304 1,099,374 19
Mar-17 4,820 4,430 4,620 50,791 178,322 822,384 22
-20% Apr-17 4,740 4,400 4,640 37,316 142,206 654,218 17
Jun-17 5,450 4,980 5,350 23,197 141,013 732,293 15
Jul-17 5,850 5,150 5,850 37,302 157,391 849,540 21
Days 242 244 246 238 138 Dec-17 6,550 6,100 6,400 38,015 200,198 1,262,590 18
Price (Rupiah) Jan-18 6,600 5,550 5,700 66,716 264,506 1,600,964 22

High 7,075 7,250 6,250 6,775 6,600 Feb-18 5,850 5,225 5,350 50,268 186,586 1,035,437 19
Low 4,400 4,500 3,900 4,150 3,920 Mar-18 5,450 4,460 4,580 46,953 161,916 805,773 21
Close 7,050 5,225 4,320 6,400 4,690 Apr-18 4,750 4,180 4,370 38,866 112,981 516,113 21
Close* 7,034 5,213 4,320 6,400 4,690 May-18 4,460 3,920 4,450 56,851 129,551 549,491 20
Jun-18 4,750 4,120 4,180 40,678 90,957 409,914 13
PER (X) 34.16 24.51 18.04 23.37 16.28 Jul-18 5,275 4,000 4,690 56,199 140,620 676,845 22
PER Industry (X) 20.04 9.49 8.16 16.02 12.90
PBV (X) 4.20 2.87 2.26 2.53 1.76


Receivables 148,829 164,374 8,278,539 11,547,364 8,263,905

- 20,154 86,975 134,245 173,058 70,000
Inventories
Current Assets 3,641,372 3,729,047 12,965,884 18,987,065 13,482,731
52,500
Fixed Assets 701,727 913,843 884,666 1,035,922 651,953
Other Assets 121,561 1,007,135 882,977 584,614 743,294
35,000
Total Assets 31,857,948 36,724,982 53,500,323 79,192,773 87,475,313
Growth (%) 15.28% 45.68% 48.02% 10.46% 17,500

Growth (%) 19.20% 52.57% 63.70% 12.07%
18,359
Paid up Capital 3,400,000 3,400,000 3,628,936 3,628,936 3,628,936 19,302
16,339
Par Value 500 500 500 500 500
15,364
12,369
Retained Earnings 4,009,692 4,895,330 6,491,367 8,124,829 8,730,398 11,425
Total Equity 11,424,996 12,368,664 16,338,840 18,359,440 19,301,654

11,427
Growth (%) 8.26% 32.10% 12.37% 5.13% 7,489
Total Revenues 9,175,319 9,848,242 16,661,403 35,092,196 18,660,629

Growth (%) 7.33% 69.18% 110.62%
-386
2014 2015 2016 2017 Jun-18
Cost of Revenues - 5,720,422 11,805,012 29,784,309 15,776,171

Gross Profit - 4,127,820 4,856,391 5,307,887 2,884,457
Expenses (Income) 6,131,283 650,155 690,884 659,807 486,509
Growth (%) 14.25% 19.78% 11.58%

35,092
27,933
Other Income (Expenses) -1,222,062 -1,409,361 -1,515,828 -1,156,796 -1,067,319

16,661
20,775
Tax 606,642 749,104 846,625 1,156,796 360,201

9,175 9,848
Growth (%) 8.55% 36.68% 16.12%
6,457
Current Ratio (%) 84.43 48.16 69.61 75.95 40.64
2,094
Dividend (Rp) - 43.13 78.09 60.63 -
1,803
2,094
EPS (Rp) 206.39 213.14 243.97 273.91 144.07

BV (Rp) 1,680.15 1,818.92 2,251.19 2,529.59 2,659.41 1,667
1,319
DAR (X) 0.64 0.66 0.69 0.77 0.78 1,215
DER(X) 1.79 1.97 2.27 3.31 3.53 970
1,239
ROA (%) 3.81 3.59 3.37 2.64 1.11 812
ROE (%) 10.64 10.67 11.04 11.40 5.03

GPM (%) - 41.91 29.15 15.13 15.46 385
OPM (%) 33.18 35.31 25.00 13.25 12.85

NPM (%) 13.25 13.40 10.82 5.97 5.20
-42
2014 2015 2016 2017 Jun-18

Payout Ratio (%) - 20.24 32.01 22.14 -
Yield (%) - 0.83 1.81 0.95 -

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 at September 10th, 1966, within the framework of the Domestic
Capital Investment Law. The Company was driven by the Vision to be the best Indonesian global
healthcare company driven by innovation, Strong Brands and excellent management. With a Mission To
improve health for a better life.
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 :

 Pharmaceutical: PT Kalbe Global Pte. Ltd, PT Kalbe Genexine Biologics, PT Innogene Kalbiotech
Pte. Ltd, PT Kalbio Global Medika, PT Finusolprima Farma Internasional, PT Bifarma Adiluhung,
Orange Kalbe Limited, PT Orange Kalbe Limited, PT Orange Kalbe Limited, PT Saka Farma
Laboratories, PT Pharma Metric Laboratories, PT Dankos Farma, PT Kalbe Vision Pte. Ltd, PT
Kalgen DNA, PT Global Onkolab Farma, and PT Innolab Sains Internasional.
 Health Foods and Drinks: PT Sanghiang Perkasa, PT Kalbe Morinaga Indonesia, PT Hale
International, PT Kalbe Milko Indonesia, PT Kalbe Blackmores Nutrition, and PT Global Vita
Nutritech.
 Sale and Distribution: PT Kalbe International Pte. Ltd, PT Milenia Dharma Insani, PT Tri Sapta
Jaya, PT Enseval Medika Prima, PT Global Chemindo Megatrading, PT Renalmed Tiara Utama,
PT Medika Renal Citraprima, Asiawide Kalbe Philippines Inc., Kalbe Malaysia Sdn. Bhd, PT Karsa
Lintas Buwana, PT Medika Komunika Teknologi, PT Cakra Radha Mustika. PT Enseval Putera
Megatrading Tbk., and PT Millenia Dharma Insani.
The Company’s production plants are located at Industri Area Delta Silicon, Jl. M.H. Thamrin, Block A3-1,
Lippo Cikarang, Bekasi. The head office is located in Kalbe Building Jl. Let. Jendral Suprapto kav 4,
Cempaka Putih, Jakarta 10510. As of June 30th, 2018, the Company and its subsidiaries have total of
12,608 permanent employees.
August 2018
Disclaimer:

KLBF Kalbe Farma Tbk.

Industry Sub Sector : Pharmaceuticals (53) Market Capitalization : 60,703,283,132,450
20 | 60.7T | 0.91% | 57.40%
40 | 11.7T | 0.59% | 67.95%

Established Date : 10-Sep-1966 1. PT Gira Sole Prima 4,774,709,485 : 10.19%
Listing Date : 30-Jul-1991 2. PT Santa Seha Sanadi 4,527,734,940 : 9.66%
Underwriter IPO : 3. PT Diptanala Bahana 4,454,807,040 : 9.50%
PT Merincorp S.I. 4. PT Lucasta Murni Cemerlang 4,439,895,440 : 9.47%
PT Niaga Securities 5. PT Ladang Ira Panen 4,378,836,840 : 9.34%
Securities Administration Bureau : 6. PT Bina Artha Charisma 4,052,539,940 : 8.65%
PT Adimitra Jasa Korpora 7. Public (<5%) 20,246,598,425 : 43.19%
BOARD OF COMMISSIONERS DIVIDEND ANNOUNCEMENT

1. Bernadette Ruth Irawaty Setiady Bonus Cash Recording Payment
F/I
2. Farid Anfasa Moeloek *) Year Shares Dividend Cum Date Ex Date Date Date
3. Ferdinand Aryanto 1991 200.00 16-Apr-92 20-Apr-92 27-Apr-92 29-May-92 F
4. Lucky Surjadi Slamet *) 1991 1: 1 20-Oct-92 21-Oct-92 28-Oct-92 16-Nov-92 BS
5. Ronny Hadiana 1992 60.00 09-Dec-92 10-Dec-92 17-Dec-92 15-Jan-93 I
6. Santoso Oen 1992 70.00 30-Jun-93 01-Jul-93 08-Jul-93 06-Aug-93 F
*) Independent Commissioners 1993 10 : 3 & 10 : 7 75.00 07-Jun-94 08-Jun-94 15-Jun-94 15-Jul-94
1994 50.00 29-Aug-94 30-Aug-94 06-Sep-94 06-Oct-94 I
1. Vidjongtius 1995 115.00 09-Jul-96 10-Jul-96 18-Jul-96 15-Aug-96 F
2. Bernadus Karmin Winata 1996 75.00 23-Jul-97 24-Jul-97 01-Aug-97 29-Aug-97 F
3. Bujung Nugroho 1999 2.00 10-Nov-00 13-Nov-00 20-Nov-00 06-Dec-00 F
4. Djonny Hartono Tjahyadi 1999 100 : 88 10-Nov-00 13-Nov-00 20-Nov-00 06-Dec-00 F
5. Ongkie Tedjasurja 2002 2.00 25-Aug-03 26-Aug-03 28-Aug-03 11-Sep-03 F
6. Sie Djohan 2003 1.00 16-Aug-04 18-Aug-04 20-Aug-04 03-Sep-04 F
2004 3.00 05-Jul-05 06-Jul-05 08-Jul-05 22-Jul-05 F
AUDIT COMMITTEE 2006 10.00 14-Jun-07 15-Jun-07 19-Jun-07 03-Jul-07 I
1. Lucky Surjadi Slamet 2007 10.00 31-Jul-08 01-Aug-08 05-Aug-08 20-Aug-08 F
2. Kai Arief Iman Selomulya 2008 12.50 29-Jul-09 30-Jul-09 03-Aug-09 14-Aug-09 F
3. Kurniawan Tedjo 2009 25.00 15-Jul-10 16-Jul-10 20-Jul-10 30-Jul-10 F
2010 70.00 27-Jun-11 28-Jun-11 01-Jul-11 13-Jul-11 F
CORPORATE SECRETARY 2011 95.00 28-Jun-12 29-Jun-12 03-Jul-12 17-Jul-12 F
Bernadus Karmin Winata 2012 19.00 13-Jun-13 14-Jun-13 18-Jun-13 02-Jul-13 F
2013 17.00 13-Jun-14 16-Jun-14 18-Jun-14 02-Jul-14 F
HEAD OFFICE 2014 19.00 25-May-15 26-May-15 28-May-15 17-Jun-15 F
Kalbe Building 2015 19.00 07-Jun-16 08-Jun-16 10-Jun-16 30-Jun-16 F
Jl. Let. Jend. Suprapto Kav. 4, Cempaka Putih 2016 22.00 12-Jun-17 13-Jun-17 15-Jun-17 07-Jul-17 F
Jakarta 10510 2017 25.00 21-Jun-18 22-Jun-18 26-Jun-18 06-Jul-18 F
Phone : (021) 4287-3888; 4287-3889
Fax : (021) 4287-3678 ISSUED HISTORY
Homepage : www.kalbe.co.id Listing Trading
Email : investor.relations@kalbe.co.id No. Type of Listing Shares Date Date
Corp.comm@kalbe.co.id 1. First Issue 10,000,000 30-Jul-91 30-Jul-91
bernadus.winata@kalbe.co.id 2. Partial Listing 10,000,000 T: 30-Jul-91 : 30-Jan-92
3. Koperasi 500,000 T: 27-Feb-92 : 31-Dec-99
4. Company Listing 29,500,000 29-Apr-92 29-Apr-92
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
7. Dividend Shares 32,400,000 18-Jul-94 18-Jul-94
8. Stock Split 46,628,857,688 T: 07-Oct-96 : 08-Oct-12
9. Additional Listing (Merger) 2,034,414,422 21-Dec-05 21-Dec-05
10. Decrease in Issued and Fully Paid Shares -3,904,950,000 13-Dec-13 13-Dec-13


TRADING ACTIVITIES
Kalbe Farma Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
2,000 400 Jan-14 1,455 1,260 1,405 115,285 1,481,958 2,036,864 20
Feb-14 1,480 1,360 1,450 90,285 1,393,045 1,969,357 20
1,750 350 Mar-14 1,495 1,400 1,465 100,433 1,431,485 2,067,755 20
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
1,500 300
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
1,250 250
Aug-14 1,700 1,580 1,660 113,962 1,752,185 2,873,280 20
Sep-14 1,710 1,640 1,700 91,511 907,341 1,522,631 22
1,000 200
Oct-14 1,715 1,595 1,705 92,218 1,088,205 1,816,283 23
Nov-14 1,795 1,650 1,750 77,230 739,375 1,265,949 20
750 150 Dec-14 1,835 1,715 1,830 79,479 1,036,522 1,844,446 20
500 100 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
250 50 Mar-15 1,865 1,775 1,865 76,831 1,156,024 2,102,717 22
Apr-15 1,915 1,750 1,795 72,828 906,565 1,672,698 21
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
Aug-15 1,735 1,405 1,675 110,480 1,084,676 1,706,243 20
Sep-15 1,700 1,250 1,375 86,684 887,975 1,334,895 21
Consumer Goods Industry Index Nov-15 1,455 1,305 1,335 94,453 1,193,529 1,635,558 21
January 2014 - July 2018 Dec-15 1,390 1,135 1,320 97,512 1,356,241 1,718,826 19
90%
Jan-16 1,505 1,275 1,335 88,640 1,293,400 1,780,459 20
75% Feb-16 1,370 1,250 1,300 97,172 1,169,685 1,532,788 20
Mar-16 1,465 1,270 1,445 111,539 1,864,143 2,497,670 21
60% Apr-16 1,470 1,320 1,375 81,214 1,099,897 1,551,019 21
May-16 1,430 1,295 1,430 81,608 1,189,673 1,617,860 20
45% Jun-16 1,545 1,370 1,530 88,348 1,087,339 1,562,244 22
37.2% Jul-16 1,715 1,490 1,675 62,357 569,437 912,427 16
34.3% Aug-16 1,815 1,660 1,795 76,521 989,147 1,701,612 22
30%
Sep-16 1,805 1,650 1,715 62,071 879,271 1,517,409 21
Oct-16 1,750 1,700 1,740 42,753 539,217 929,406 21
15%
Nov-16 1,755 1,385 1,500 76,734 1,188,212 1,805,036 22
Dec-16 1,590 1,410 1,515 65,131 650,147 990,194 20
-
-1.9%
Jan-17 1,570 1,450 1,450 42,602 341,931 516,733 21
-15% Feb-17 1,550 1,445 1,530 42,767 651,516 965,235 19
Mar-17 1,550 1,440 1,540 51,872 925,901 1,331,644 22
-30% Apr-17 1,620 1,535 1,585 30,979 731,864 1,139,146 17
Jun-17 1,630 1,520 1,625 28,169 488,991 770,218 15
Jul-17 1,735 1,580 1,735 45,995 558,286 927,632 21
Frequency (Thou. X) 1,088 1,080 934 531 378 Nov-17 1,675 1,590 1,600 51,831 724,597 1,167,338 22
Days 242 244 246 238 138 Dec-17 1,700 1,600 1,690 45,139 496,626 821,309 18
Price (Rupiah) Jan-18 1,785 1,650 1,665 62,747 630,303 1,080,246 22

High 1,835 1,915 1,815 1,795 1,785 Feb-18 1,700 1,600 1,600 51,765 625,334 1,017,897 19
Low 1,260 1,135 1,250 1,440 1,155 Mar-18 1,625 1,390 1,500 57,212 715,111 1,087,414 21
Close 1,830 1,320 1,515 1,690 1,295 Apr-18 1,615 1,425 1,505 47,492 488,143 747,746 21
Close* 1,830 1,320 1,515 1,690 1,295 May-18 1,515 1,270 1,370 61,253 714,222 986,700 20
Jun-18 1,470 1,155 1,220 55,950 896,858 1,170,702 13
PER (X) 43.27 30.87 31.28 33.39 24.96 Jul-18 1,325 1,195 1,295 41,458 412,238 527,588 22
PER Industry (X) 24.22 17.71 23.77 18.48 20.01
PBV (X) 9.30 5.66 6.01 5.97 4.34


Receivables 2,464,902 2,434,082 2,725,808 2,967,693 3,603,339

3,090,544 3,003,150 3,344,404 3,557,497 3,395,889 15,000
Inventories
Current Assets 8,120,805 8,748,492 9,572,530 10,043,951 10,910,110
11,250
Fixed Assets 3,404,457 3,938,494 4,555,756 5,342,660 5,533,819
Other Assets 326,536 346,531 413,327 546,831 730,425
7,500
Total Assets 12,425,032 13,696,417 15,226,009 16,616,239 17,892,981
Growth (%) 10.23% 11.17% 9.13% 7.68% 3,750

Growth (%) 5.77% 0.15% -1.45% 44.05%
13,894
Paid up Capital 468,751 468,751 468,751 468,751 468,751 12,464
Par Value 10 10 10 10 10
11,121
9,817

Total Equity 9,817,476 10,938,286 12,463,847 13,894,032 13,971,570
8,271
Growth (%) 11.42% 13.95% 11.47% 0.56% 5,421
Total Revenues 17,368,533 17,887,464 19,374,231 20,182,120 10,380,529

Growth (%) 2.99% 8.31% 4.17%
-279
2014 2015 2016 2017 Jun-18
Cost of Revenues 8,892,737 9,295,887 9,886,263 10,369,837 5,386,803

Gross Profit 8,475,795 8,591,577 9,487,968 9,812,283 4,993,726
Expenses (Income) 5,712,095 5,870,696 6,396,780 6,571,097 3,363,881
Operating Profit - - - 3,241,187 - 20,182
19,374
Growth (%) 17,369 17,887
20,182
16,065

10,381
Tax 642,610 663,187 740,304 787,935 396,430
Growth (%) -2.99% 14.25% 4.35%

3,714
Current Ratio (%) 340.36 369.78 413.11 450.94 322.56
2,453
2,351
Dividend (Rp) 19.00 19.00 22.00 25.00 -
2,121
2,453
44.05 42.76 49.06 51.28 25.96 2,058

EPS (Rp)
BV (Rp) 209.44 233.35 265.89 296.41 298.06 1,953
DAR (X) 0.21 0.20 0.18 0.16 0.22

1,233
DER(X) 0.27 0.25 0.22 0.20 0.28
1,452
ROA (%) 17.07 15.02 15.44 14.76 6.89 952
ROE (%) 21.61 18.81 18.86 17.66 8.83

GPM (%) 48.80 48.03 48.97 48.62 48.11 451
OPM (%) - - - 16.06 -

NPM (%) 12.21 11.50 12.13 12.16 11.88
-49
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 43.14 44.44 44.84 48.75 -
Yield (%) 1.04 1.44 1.45 1.48 -

COMPANY REPORT
LPKR
LIPPO KARAWACI TBK.
Company Profile
PT Lippo Karawaci Tbk. was established under the name PT Tunggal Reksa kencana dated October
15th, 1990. PT Lippo Karawaci Tbk ("Lippo Karawaci") was founded on a vision to impact lives through
the development of well-planned sustainable independent townships within green environments
and first class physical and social infrastructure.
The Company’s scope of activities 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.
In 2017 the Company recieved an award of 100 Fastest Growing Companies 2017, The Most
Innovative Business Award 2017, Indonesia Green Awards 2017, Top Ten Developer in Indonesia
award in 2017 from BCI Asia, Top 50 Public Listed Companies for Mid Cap, Highest Ranking Growth
in Indonesia 2017, “One of the Most Valuable Indonesian Brands 2017” award from Brand Plc, Golden
Property Awards 2017 for “Best Township Development Project” from Indonesia Property Watch,
The Best Innovation in Property Product Concept from Property-in Magazine, 2017 Indonesia
Hospitals of the Year, etc.
The Company’s head Office is located at Matahari Tower, 22nd floor, 7 Boulevars Palem Raya Lippo
Village Sentral Tanggerang 15811. As of March 31st, 2018, the Company and subsidiaries had 9,725
employees.
August 2018
Disclaimer:

LPKR Lippo Karawaci Tbk.

117 | 8.45T | 0.13% | 86.46%
27 | 18.7T | 0.94% | 57.81%

Established Date : 15-Oct-1990 1. PT Inti Anugerah 8,143,500,000 : 35.29%
Listing Date : 28-Jun-1996 2. DBSG SA DBITSL As Sec. Agent For PT Inti Ap (Lippo)-2042224006 2,165,391,561 : 9.38%
Underwriter IPO : 3. PT Inti Anugrah Propertindo 1,900,000,000 : 8.23%
PT Pentasena Arthasentosa 4. PT Inti Anugerah 1,284,000,000 : 5.56%
Securities Administration Bureau : 5. Credit Suisse AGSG Traccl PT Metropolis Propertindo Utama-2023904215 1,212,280,000 : 5.25%
PT Sharestar Indonesia 6. Public (<5%) 8,372,518,058 : 36.28%
BOARD OF COMMISSIONERS DIVIDEND ANNOUNCEMENT

1. Theo L. Sambuaga Bonus Cash Recording Payment
F/I
2. Agum Gumelar *) Year Shares Dividend Cum Date Ex Date Date Date
3. Farid Harianto *) 1995 40.00 05-Dec-96 06-Dec-96 16-Dec-96 14-Jan-97 F
4. Surjadi Soedirdja *) 1997 10.00 13-Jan-98 14-Jan-98 22-Jan-98 20-Feb-98 F
5. Sutiyoso *) 2004 10.00 19-Aug-05 22-Aug-05 24-Aug-05 08-Sep-05 F
*) Independent Commissioners 2005 9.99 01-Dec-06 04-Dec-06 06-Dec-06 20-Dec-06 F
2006 4.62 04-Dec-07 05-Dec-07 07-Dec-07 27-Dec-07 F
BOARD OF DIRECTORS 2010 2.88 11-Nov-10 12-Nov-10 16-Nov-10 01-Dec-10 I
1. Ketut Budi Wijaya 2010 4.33 05-Oct-11 06-Oct-11 10-Oct-11 24-Oct-11 F
2. Alwi Sjaaf 2011 7.79 27-Aug-12 28-Aug-12 30-Aug-12 13-Sep-12 F
3. Chan Chee Meng 2012 11.85 29-Nov-13 02-Dec-13 04-Dec-13 18-Dec-13 F
4. Richard H Setiadi Wp 2013 14.05 02-Dec-14 03-Dec-14 05-Dec-14 19-Dec-14 F
5. Tjokro Libianto 2015 3.50 01-Apr-16 04-Apr-16 06-Apr-16 27-Apr-16 F
6. Wijaya Subekti 2016 1.94 31-Mar-17 03-Apr-17 05-Apr-17 21-Apr-17 F
2017 2.70 21-Jun-18 22-Jun-18 26-Jun-18 06-Jul-18 F
AUDIT COMMITTEE
1. Sutiyoso ISSUED HISTORY
2. Lim Kwang Tak Listing Trading
3. Siswanto Pramono No. Type of Listing Shares Date Date
1. First Issue 30,800,000 28-Jun-96 28-Jun-96
CORPORATE SECRETARY 2. Company Listing 244,000,000 T: 28-Jun-96 : 28-Feb-97
Sri Mulyati Handojo 3. Convertible Bond 105,072,500 28-Jun-96 28-Jun-96
4. Right Issue 5,815,239,737 T: 16-Jan-98 : 30-Dec-10
HEAD OFFICE 5. Add. Listing (Merger) 1,063,275,250 02-Aug-04 02-Aug-04
Matahari Tower 22nd Floor, 7 Boulevard Palem Raya 6. Warrant 279,099 T: 28-Jul-05 : 17-May-06
Lippo Karawaci Central 7. Stock Split 13,314,419,679 T: 28-Jul-06 : 26-Dec-07
Tangerang 15811 8. Warrant I 1,054,603,354 T: 23-Nov-06 : 05-Dec-07
Phone : (021) 2566-9000 9. Add. Listing without RI 1,450,000,000 08-Jun-11 08-Jun-11
Fax : (021) 2566-9099; 2566-9098
Homepage : www.lippokarawaci.co.id
Email : corsec@lippokarawaci.co.id
imelda@lippokarawaci.co.id


TRADING ACTIVITIES
Lippo Karawaci Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
1,600 6,400 Jan-14 1,000 855 950 37,016 2,155,619 2,024,577 20
Feb-14 960 910 940 39,852 2,392,473 2,240,643 20
1,400 5,600 Mar-14 1,295 920 1,085 61,757 2,407,412 2,582,770 20
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
1,200 4,800
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
1,000 4,000
Aug-14 1,240 1,060 1,070 43,011 1,402,081 1,610,434 20
Sep-14 1,080 935 940 49,324 1,734,697 1,771,314 22
800 3,200
Oct-14 1,080 885 1,070 68,627 2,797,512 2,764,165 23
Nov-14 1,180 1,005 1,165 33,157 1,493,052 1,613,526 20
600 2,400 Dec-14 1,195 970 1,020 49,252 1,979,358 2,101,691 20
400 1,600 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
200 800 Mar-15 1,355 1,070 1,350 49,443 2,003,589 2,359,437 22
Apr-15 1,460 1,150 1,185 35,527 1,133,692 1,522,562 21
May-15 1,375 1,185 1,300 36,156 955,769 1,242,448 19
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
Aug-15 1,170 910 1,070 52,105 1,139,478 1,198,968 20
Sep-15 1,195 995 1,130 49,567 1,787,071 1,991,245 21
Property, Real Estate and Bulding Construction Index Nov-15 1,350 1,110 1,285 83,527 1,626,938 2,003,360 21
January 2014 - July 2018 Dec-15 1,380 1,005 1,035 72,222 1,064,529 1,250,885 19
80%
Jan-16 1,080 990 1,055 93,352 1,411,606 1,466,344 20
60% Feb-16 1,080 975 1,025 80,509 1,575,610 1,610,472 20
Mar-16 1,180 1,025 1,045 76,677 1,138,313 1,241,236 21
40% Apr-16 1,095 1,000 1,015 76,777 1,496,730 1,564,087 21
37.2%
29.5% May-16 1,020 900 955 77,251 1,671,778 1,589,084 20
20% Jun-16 1,170 945 1,145 82,504 1,813,736 1,855,059 22
Jul-16 1,215 1,110 1,135 43,208 972,983 1,126,878 16
Aug-16 1,210 1,095 1,100 61,446 1,015,202 1,177,002 22
-
Sep-16 1,140 990 990 74,183 2,538,907 2,631,927 21
Oct-16 1,005 865 905 110,367 2,324,270 2,166,909 21
-20%
Nov-16 915 755 765 97,454 2,668,579 2,217,798 22
Dec-16 780 690 720 80,180 2,542,735 1,877,300 20
-40%
Jan-17 805 715 735 50,028 1,249,616 928,715 21

-60% -59.8% Feb-17 785 720 735 55,131 2,094,137 1,584,847 19
Mar-17 755 705 725 50,953 1,860,993 1,370,859 22
-80% Apr-17 815 720 790 45,543 1,935,358 1,504,107 17
Jun-17 695 610 660 40,840 1,514,932 1,004,332 15
Jul-17 750 655 715 73,458 1,556,888 1,107,232 21
Value (Billion Rp) 24,164 22,149 20,524 19,528 8,325 Oct-17 745 675 690 49,502 1,866,071 1,354,164 22
Days 242 244 246 238 138 Dec-17 580 476 488 50,811 4,079,301 2,211,525 18
Price (Rupiah) Jan-18 590 482 550 51,884 3,225,812 1,663,615 22

High 1,295 1,460 1,215 850 590 Feb-18 570 500 515 32,291 6,770,401 3,478,734 19
Low 855 910 690 476 322 Mar-18 520 466 480 37,743 755,857 404,534 21
Close 1,020 1,035 720 488 366 Apr-18 490 438 446 23,732 1,816,523 1,012,100 21
Close* 1,020 1,035 720 488 366 May-18 448 368 378 39,013 1,650,556 744,569 20
Jun-18 396 322 340 17,309 906,218 389,065 13
PER (X) 16.76 44.61 18.75 13.52 15.90 Jul-18 414 324 366 20,227 1,504,955 632,751 22
PER Industry (X) 16.29 13.36 24.89 14.52 14.33
PBV (X) 1.44 1.26 0.76 0.43 0.28


Public Accountant : Amir Abadi Jusuf, Aryanto, Mawar & Partners (Member of RSM International)
Receivables 951,104 1,434,348 1,822,596 2,262,430 2,280,988

50,000
Inventories 16,553,036 20,458,990 23,370,271 29,232,296 29,835,373

37,500
Investment 123,284 385,271 506,997 527,353 539,113
Fixed Assets 3,208,763 2,731,533 2,902,208 3,854,458 5,473,064
25,000
Other Assets 718,887 43,067 72,243 968,774 1,055,630
Total Assets 37,761,221 41,326,558 45,603,683 56,772,116 57,637,737
12,500
Growth (%) 9.44% 10.35% 24.49% 1.52%
-
Trade Payable 395,134 782,916 818,572 1,112,069 1,184,837 2014 2015 2016 2017 Mar-18
Growth (%) 11.41% 4.99% 14.38% 2.98%
29,860 29,925
Paid up Capital 2,307,769 2,307,769 2,307,769 2,307,769 2,307,769
22,075
23,820
18,917
Par Value 100 100 100 100 100 17,646

17,716
Total Equity 17,646,449 18,916,765 22,075,139 29,860,294 29,925,158 11,611
Growth (%) 7.20% 16.70% 35.27% 0.22%

5,506

Total Revenues 11,655,042 8,703,650 10,324,633 11,064,119 2,503,492
-599
2014 2015 2016 2017 Mar-18

Growth (%) -25.32% 18.62% 7.16%
Cost of Revenues 6,257,664 4,791,656 6,020,661 6,335,929 36,129

Gross Profit 5,397,378 3,911,994 4,303,972 4,566,999 1,108,766
Operating Expenses 1,588,588 2,421,661 2,489,599 3,385,833 988,841 11,655
11,064
11,655
Growth (%) -60.87% 21.74% -34.90% 9,277

8,704
Other Income (Expenses) -113,812 -205,503 -256,626 -14,037 143,104 6,900

Tax 559,763 260,709 330,373 310,145 82,431 4,522
2,503
Profit for the period 3,135,216 1,024,121 1,227,374 856,984 180,598
Growth (%) -67.33% 19.85% -30.18%
2,145
-233
Period Attributable 2,547,285 535,394 882,411 614,172 132,766 2014 2015 2016 2017 Mar-18
Comprehensive Income 2,996,884 616,914 1,636,156 1,858,325 64,864
Comprehensive Attributable 2,408,953 148,483 1,279,844 1,605,347 41,951
RATIOS Dec-14 Dec-15 Dec-16 Dec-17 Mar-18 3,135
Dividend (Rp) - 3.50 1.94 2.70 - 3,135
EPS (Rp) 135.85 44.38 53.18 37.13 7.83

BV (Rp) 764.65 819.70 956.56 1,293.90 1,296.71 2,496
DAR (X) 0.53 0.54 0.52 0.47 0.48

DER(X) 1.14 1.18 1.07 0.90 0.93
1,856
1,227
ROA (%) 8.30 2.48 2.69 1.51 0.31 1,024
857
1,216
ROE (%) 17.77 5.41 5.56 2.87 0.60

GPM (%) 46.31 44.95 41.69 41.28 44.29
181
577
OPM (%) 32.68 17.12 17.57 10.68 4.79

NPM (%) 26.90 11.77 11.89 7.75 7.21
-63
2014 2015 2016 2017 Mar-18

Payout Ratio (%) - 7.89 3.65 7.27 -
Yield (%) - 0.73 0.40 0.56 -

COMPANY REPORT
LPPF
MATAHARI DEPARTMENT STORE TBK.
Company Profile
PT Matahari Department Store Tbk (“Matahari” or “Company”) has a deep legacy in Indonesian retail.
Beginning its journey on October 24, 1958 with the opening of its first outlet, a children’s fashion store,
in Jakarta’s Pasar Baru district, Matahari went on to open Indonesia’s first modern department store in
1972. Since then, Matahari has established itself as a truly national brand.
The Company has engaged in the retail bussiness for several types of products such as clothes,
accessories, bags, shoes, cosmetics, and household appliances, and management consulting service. It
currently operates 155 stores in 73 cities across Indonesia, with a total retail space of more than one
million square meters and has a growing Online.
The Company has a goal to make every Indonesian people look comfortable and attractive, in which it
has a mission to provide a variety of quality and affordable fashion needs for customers with a friendly
atmosphere, and to Provide a fun shopping experience and improving overall quality of life.
In 2017, the Company was awarded: Top 50 Companies with the Highest CG Score, 9th IICD Corporate
Governance Conference and Award, Indonesia Best Corporate Reputation Award 2017, etc .
The Company’s operational head office is located in Menara Matahari 15th Floor, Jl. Boulevard Palem
Raya No. 7, Lippo Karawaci – Tangerang 15811. The total number of employees of the Company at June
30th, 2018 was 12,746.
August 2018
Disclaimer:

LPPF Matahari Department Store Tbk.

Industry Sub Sector : Retail Trade (93) Market Capitalization : 23,416,292,592,000
49 | 23.4T | 0.35% | 72.43%
30 | 17.7T | 0.88% | 60.51%

Established Date : 01-Apr-1982 1. PT Multipolar Tbk. 445,629,191 : 15.27%
Listing Date : 10-Oct-1989 2. PT Multipolar Tbk. 64,362,809 : 2.21%
PT Aseam Indonesia
PT Finconesia DIVIDEND ANNOUNCEMENT
PT Multicor Bonus Cash Recording Payment
F/I
PT Bank Pembangunan Indonesia Year Shares Dividend Cum Date Ex Date Date Date
PT (Persero) Danareksa 1990 5:1 50.00 11-Jul-90 12-Jul-90 20-Jul-90 22-Aug-90 I
Securities Administration Bureau : 1990 100.00 02-Jul-91 03-Jul-91 10-Jul-91 12-Aug-91 F
PT Sharestar Indonesia 1991 1 :2 175.00 13-Jul-92 14-Jul-92 21-Jul-92 11-Aug-92 F
1992 75.00 10-Jun-93 11-Jun-93 19-Jun-93 19-Jul-93 F
BOARD OF COMMISSIONERS 1993 5:1 50.00 21-Jul-94 22-Jul-94 29-Jul-94 26-Aug-94 F
1. John Bellis *) 1994 75.00 23-Jun-95 26-Jun-95 04-Jul-95 03-Aug-95 F
2. Hendry Jani Liando 1995 75.00 09-Jul-96 10-Jul-96 18-Jul-96 16-Aug-96 F
3. John Riady 1996 50.00 07-Jul-97 08-Jul-97 16-Jul-97 15-Aug-97 F
4. Jonathan Limbong Parapak *) 2010 32.25 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
5. Niel Byron Nielson 2010 14.00 22-Aug-11 23-Aug-11 25-Aug-11 15-Sep-11 F
6. Sigit Prasetya 2013 157.70 11-Jun-14 12-Jun-14 16-Jun-14 30-Jun-14 F
7. Surya Tatang 2015 427.30 02-Jun-16 03-Jun-16 07-Jun-16 29-Jun-16 F
8. William Travis Saucer 2016 484.60 04-May-17 05-May-17 09-May-17 26-May-17 F
*) Independent Commissioners 2017 457.50 07-May-18 08-May-18 11-May-18 30-May-18 F
BOARD OF DIRECTORS ISSUED HISTORY

1. Bunjamin Jonatan Mailool Listing Trading
2. Andre Rumantir No. Type of Listing Shares Date Date
3. Christian Kurnia 1. First Issue 2,140,000 09-Oct-89 09-Oct-89
4. Henry Jani Liando 2. Partial Listing 2,250,000 12-Apr-90 24-Apr-90
5. Richard Thomas Gibson 3. Bonus Shares 878,000 27-Aug-90 27-Aug-90
6. Widhayati Hendropurnomo 4. Bonus Shares 10,536,000 13-Aug-92 13-Aug-92
5. Dividend Shares 3,160,800 02-Sep-94 02-Sep-94
AUDIT COMMITTEE 6. Company Listing 11,880,000 11-Jun-97 11-Jun-97
1. John Bellis 7. Right Issue 1,295,481,600 19-Jul-01 19-Jul-01
2. Farid Harianto 8. Reverse Stock Split -1,061,061,120 09-Nov-09 09-Nov-09
3. Isnandar Rachmat Ali 9. Right Issue 2,652,652,800 04-Dec-09 04-Dec-09
CORPORATE SECRETARY
Miranti Hadisusilo
HEAD OFFICE
Matahari Tower Floor 8-15
Jl. Boulevard Palem Raya No. 7, Lippo Karawaci - 1200
Tangerang 15811
Phone : (021) 547-5333; 150-0838
Fax : (021) 547-5232
Homepage : matahari.co.id
Email : corp.comm@matahari.co.id
miranti.hadisusilo@matahari.co.id
ir@matahari.co.id


TRADING ACTIVITIES
Matahari Department Store Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
22,000 400 Jan-14 13,075 10,800 11,625 32,152 56,432 661,262 20
Feb-14 15,000 11,475 14,000 47,132 131,382 1,738,718 20
19,250 350 Mar-14 15,000 12,900 13,900 50,174 338,527 4,466,054 20
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
16,500 300
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
13,750 250
Aug-14 18,000 13,725 16,275 71,943 487,072 7,064,996 20
Sep-14 17,100 15,650 16,225 66,159 97,910 1,593,883 22
11,000 200
Oct-14 16,350 14,250 14,625 54,089 112,386 1,724,398 23
Nov-14 15,700 14,025 15,000 47,206 75,862 1,121,722 20
8,250 150 Dec-14 15,850 14,025 15,000 52,839 99,075 1,469,530 20
5,500 100 Jan-15 16,200 14,125 15,525 58,908 446,605 6,762,194 21

Feb-15 18,100 14,800 17,850 59,414 263,261 3,981,884 19
2,750 50 Mar-15 20,000 17,300 19,700 72,275 119,919 2,180,042 22
Apr-15 20,225 16,100 17,500 67,293 120,762 2,193,928 21
May-15 18,450 16,200 17,450 70,303 118,558 2,058,595 19
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
Aug-15 18,800 14,300 17,525 71,109 113,964 1,914,180 20
Sep-15 17,475 15,150 16,100 63,237 92,007 1,467,454 21
January 2014 - July 2018 Dec-15 17,900 15,800 17,600 59,417 69,198 1,168,321 19
120%
Jan-16 17,750 15,625 16,000 69,519 115,327 1,906,616 20
100% Feb-16 18,475 15,925 18,475 70,520 133,282 2,211,645 20
Mar-16 18,450 16,600 18,350 87,844 140,089 2,479,966 21
80% Apr-16 19,450 17,275 19,000 58,129 117,473 2,151,389 21
May-16 19,450 17,625 18,975 68,483 324,058 5,779,835 20
60% Jun-16 20,700 18,475 20,000 82,444 132,534 2,562,757 22
Jul-16 22,575 19,750 19,925 70,353 93,768 1,955,675 16
Aug-16 21,300 19,700 20,000 76,873 154,058 3,148,746 22
40%
37.2% Sep-16 19,875 17,775 18,475 104,073 300,034 5,579,993 21
Oct-16 19,350 17,200 18,025 70,271 114,719 2,101,289 21
20%
Nov-16 17,800 13,325 14,400 148,743 321,547 4,955,632 22
10.0% Dec-16 16,100 14,025 15,125 94,024 171,236 2,543,130 20
-
Jan-17 15,900 14,550 14,775 67,458 129,962 1,982,508 21

-20% Feb-17 15,525 13,650 13,650 77,673 201,868 2,993,748 19
-29.0% Mar-17 14,350 11,175 13,175 126,544 534,500 6,975,483 22
-40% Apr-17 15,150 13,025 14,600 49,665 121,303 1,642,657 17
Jun-17 15,400 14,100 14,175 43,108 71,631 1,048,376 15
Jul-17 14,600 11,925 12,675 79,480 195,279 2,509,464 21
Volume (Million Sh.) 1,724 1,775 2,118 2,358 816 Sep-17 10,350 9,175 9,275 61,245 152,937 1,500,566 19
Frequency (Thou. X) 568 806 1,001 858 430 Nov-17 11,675 8,875 10,600 72,499 226,355 2,307,833 22
Days 242 244 246 238 138 Dec-17 11,300 9,600 10,000 40,875 68,292 724,387 18
Price (Rupiah) Jan-18 11,500 10,300 11,125 63,142 91,940 1,007,982 22

High 18,000 20,225 22,575 15,950 11,975 Feb-18 11,500 9,275 10,650 60,047 99,284 1,046,045 19
Low 10,800 14,125 13,325 8,475 7,875 Mar-18 11,975 10,300 10,950 62,886 111,620 1,236,808 21
Close 15,000 17,600 15,125 10,000 8,025 Apr-18 11,250 10,075 10,350 63,252 110,773 1,186,901 21
Close* 15,000 17,600 15,125 10,000 8,025 May-18 10,425 8,100 9,150 73,478 145,188 1,329,964 20
Jun-18 9,225 8,100 8,800 39,359 107,127 939,376 13
PER (X) 30.96 28.84 20.56 15.30 8.71 Jul-18 9,700 7,875 8,025 67,462 149,624 1,280,809 22
PER Industry (X) 22.13 14.53 19.07 17.44 3.45
PBV (X) -241.68 46.43 30.03 12.53 10.02


Cash & Cash Equivalents 785,895 946,658 1,712,844 1,582,817 2,502,210 7,500
Receivables 109,381 76,026 94,566 151,949 188,838

955,231 1,007,811 995,276 1,005,484 1,304,365 6,000
Inventories
Current Assets 2,117,507 2,272,941 2,974,052 2,973,749 4,267,954
4,500
Fixed Assets 725,954 876,566 979,858 973,698 927,587
Other Assets 24,577 153,172 252,750 156,017 146,481
3,000
Total Assets 3,408,372 3,889,291 4,858,878 5,427,426 6,711,376
Growth (%) 14.11% 24.93% 11.70% 23.66% 1,500

Growth (%) -13.86% 7.92% 3.19% 41.11%
Paid up Capital 386,794 386,794 386,794 386,794 386,794 2,338

Par Value 5,000 & 350 & 100 5,000 & 350 & 100 5,000 & 350 & 100 5,000 & 350 & 100 5,000 & 350 & 100
1,861

Total Equity 177,590 1,106,167 1,855,243 2,327,985 2,337,845 1,106
1,384
Growth (%) 522.88% 67.72% 25.48% 0.42% 907
178
Total Revenues 7,925,547 9,006,893 9,897,046 10,023,961 5,915,413
Growth (%) 13.64% 9.88% 1.28%
-47
2014 2015 2016 2017 Jun-18
Cost of Revenues 2,877,507 3,335,638 3,685,279 3,762,021 2,164,121

Gross Profit 5,048,040 5,671,255 6,211,767 6,261,940 3,751,292
Expenses (Income) 2,964,128 3,333,607 3,677,856 3,885,277 2,063,549
9,007
Growth (%) 12.18% 8.40% -6.21%
10,024
7,926
7,979
Other Income (Expenses) -233,368 -92,827 -1,245 19,637 6,681

5,915
Tax 431,426 463,973 512,961 489,223 349,616

Growth (%) 25.49% 13.41% -5.58%

1,844
Current Ratio (%) 84.08 93.19 114.90 113.90 110.61
2,020
Dividend (Rp) - 427.30 484.60 457.50 - 1,907
1,781
2,020
EPS (Rp) 486.35 610.31 692.17 653.57 460.88

BV (Rp) 60.86 379.09 635.81 797.82 801.20 1,608
1,419
1,345
DAR (X) 0.95 0.72 0.62 0.57 0.65
DER(X) 18.19 2.52 1.62 1.33 1.87
1,196
ROA (%) 41.64 45.79 41.57 35.14 20.04 784
ROE (%) 799.10 160.99 108.86 81.92 57.52

GPM (%) 63.69 62.97 62.76 62.47 63.42 372
OPM (%) 26.29 25.95 25.60 23.71 28.53

NPM (%) 17.91 19.77 20.41 19.03 22.73
-40
2014 2015 2016 2017 Jun-18

Payout Ratio (%) - 70.01 70.01 70.00 -
Yield (%) - 2.43 3.20 4.58 -

COMPANY REPORT
MEDC
MEDCO ENERGI INTERNASIONAL TBK.
Company Profile
PT Medco Energi Internasional Tbk (“the Company”) was established within the framework of the Domestic
Capital Investment Law No. 6/1968 as amended by Law No. 12/1970, based on Notarial deed No. 19 of Imas
Fatimah, S.H., dated June 9th, 1980 under The name PT Meta Epsi Pribumi Drilling Company.
In accordance with Article 3 of the Company's Articles of Association, the scope of its activities comprises among
others, exploration for and production of oil and natural gas, and other energy activities, onshore and offshore
drilling, and investing (direct and indirect) in subsidiaries.
The Company operates several other businesses, PT Api Metra Graha which is engaged in Property,
PT Exspan Petrogras Intranusa provides drilling services, PT Medco Energi Mining Internasional holds
two coal Mining Business Licenses (IUP) through PT Duta Tambang Rekayasa (DTR) and PT Duta
Tambang Sumber Alam (DTSA) located in the Nunukan Regency, North Kalimantan, PT Meta Adhya
Tirta Umbulan is developing drinking water supply system from the Umbulan Spring, in East Java
Province, and PT Mitra Energi Gas Sumatera (MEGS) operates a compression station with three gas
compressors and a 17.5 km long pipeline located in Mount Megang, Muara Enim, South Sumatra.
In 2017 the company received awards: Indonesia Best Electricity Award ceremony for Mitra Energi
Batam, Green PROPER Award for Tanjung Jati B, PROPER (Company Performance Rating Program)
Gold for Rimau Block, Top HR Team 2017 for PT Medco E&P Indonesia – HRD, PROPER (Company
Performance Rating Program) Blue for PT Medco E&P Natuna, etc.
The Company is domiciled in Jakarta and its head office is located at 53 rd Floor, The Energy Building,
SCBD lot 11A, Jln. Jenderal Sudirman, Jakarta 12190. As of June 30th, 2018, the Company and
subsidiaries had 2,528 permanent employees.
August 2018
Disclaimer:

MEDC Medco Energi Internasional Tbk.

Industry Sub Sector : Crude Petroleum & Natural Gas Production (22) Market Capitalization : 17,553,034,780,380
63 | 17.6T | 0.26% | 76.68%
13 | 34.0T | 1.70% | 40.78%

Established Date : 09-Jun-1980 1. PT Medco Daya Abadi Lestari 8,959,891,262 : 50.54%
Listing Date : 12-Oct-1994 2. Diamond Bridge Pte., Ltd. 3,830,690,801 : 21.61%
PT Bahana Securities
PT Niaga Securities DIVIDEND ANNOUNCEMENT
PT Multicor Bonus Cash Recording Payment
F/I
PT Ronie Wijata Dharma Year Shares Dividend Cum Date Ex Date Date Date
PT Sinartama Gunita 1995 10 : 7 75.00 17-Jul-96 18-Jul-96 26-Jul-96 23-Aug-96 F
1996 60.00 07-Jul-97 08-Jul-97 16-Jul-97 16-Aug-97 F
1. Muhammad Lutfi 2000 85.00 30-Jul-01 31-Jul-01 03-Aug-01 20-Aug-01 F
2. Bambang Subianto *) 2001 110.00 24-May-02 27-May-02 30-May-02 12-Jun-02 F
3. Marsillam Simandjuntak *) 2002 111.00 22-May-03 23-May-03 27-May-03 11-Jun-03 F
4. Yani Yuhani Rodyat 2003 US$ 0.0064 04-Jun-04 07-Jun-04 09-Jun-04 23-Jun-04 F
5. Yaser Raimi A. Panigoro 2004 US$ 0.0105 30-Jun-05 01-Jul-05 05-Jul-05 19-Jul-05 F
*) Independent Commissioners 2005 US$ 0.0112 29-May-06 30-May-06 01-Jun-06 15-Jun-06 F
2006 US$ 0,0057 19-Jun-07 20-Jun-07 22-Jun-07 06-Jun-07 F
BOARD OF DIRECTORS 2008 US$ 0.015 03-Aug-09 04-Aug-09 06-Aug-09 21-Aug-09 F
1. Hilmi Panigoro 2009 US$ 0.00288 21-Jun-10 22-Jun-10 24-Jun-10 08-Jul-10 F
2. Amri Siahaan 2010 US$ 0.00748 13-Jun-11 14-Jun-11 16-Jun-11 01-Jul-11 F
3. Anthony R. Mathias 2011 US$ 0.00766 01-Jun-12 04-Jun-12 06-Jun-12 20-Jun-12 F
4. Roberto Lorato 2012 US$ 0.0011 20-May-13 21-May-13 23-May-13 07-Jun-13 F
5. Ronald Gunawan 2013 US$ 0.00151 26-May-14 28-May-14 02-Jun-14 16-Jun-14 F
2014 US$ 0.00121 27-Apr-15 28-Apr-15 30-Apr-15 22-May-15 F
AUDIT COMMITTEE
1. Bambang Subianto ISSUED HISTORY
2. Ida Anggrainy Sarwani Listing Trading
3. Jul Azmi No. Type of Listing Shares Date Date
1. First Issue 22,000,000 12-Oct-94 12-Oct-94
CORPORATE SECRETARY 2. Company Listing 79,400,000 12-Oct-94 13-May-95
Siendy K. Wisandana 3. Bonus Shares 70,980,000 26-Aug-96 26-Aug-96
4. Stock Split 172,380,000 18-Aug-98 18-Aug-98
HEAD OFFICE 5. Right Issue 379,236,000 22-Nov-99 22-Nov-99
Gedung The Energy, Lt 52-55, SCBD lot 11A 6. Right Issue -57,505,710 22-Nov-99 22-Nov-99
Jl. Jend. Sudirman, Senayan 7. Stock Split 2,665,961,160 02-Jun-00 02-Jun-00
Jakarta 12190 8. Stock Split 9,997,354,350 11-Sep-17 11-Sep-17
Phone : (021) 2995 3000 9. Right Issue 2,971,579,903 20-Dec-17 20-Dec-17
Fax : (021) 2995-3001 10. Right Issue 1,427,537,764 02-Jan-18 02-Jan-18
Homepage : www.medcogroup.com 11. Warrant I 262,432 13-Jul-18 13-Jul-18
Email : siendyk.wisandana@medcoenergi.com 12. Warrant I 347,199 19-Jul-18 19-Jul-18
13. Warrant I 204,165 23-Jul-18 23-Jul-18
14. Warrant I 600,899 26-Jul-18 26-Jul-18
15. Warrant I 13,735,699 01-Aug-18 01-Aug-18
16. Warrant I 28,602,834 06-Aug-18 06-Aug-18
17. Warrant I 20,618,266 15-Aug-18 15-Aug-18


TRADING ACTIVITIES
Medco Energi Internasional Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
1,600 16,000 Jan-14 2,525 1,900 2,375 11,220 53,952 126,938 20
Feb-14 2,585 2,330 2,540 5,151 47,794 119,433 20
1,400 14,000 Mar-14 2,830 2,505 2,720 5,477 51,614 140,831 20
Apr-14 2,750 2,500 2,750 8,354 30,823 81,075 20
May-14 3,250 2,725 3,250 8,407 54,321 161,618 18
1,200 12,000
Jun-14 3,550 3,095 3,550 9,844 36,603 122,698 21
Jul-14 3,700 3,350 3,495 11,049 59,985 212,206 18
1,000 10,000
Aug-14 3,650 3,280 3,650 6,334 31,723 109,356 20
Sep-14 3,710 3,360 3,570 13,960 48,024 168,418 22
800 8,000
Oct-14 3,900 3,550 3,850 13,228 100,928 335,198 23
Nov-14 3,865 3,560 3,740 5,347 18,887 69,933 20
600 6,000 Dec-14 3,800 3,350 3,800 10,543 66,756 263,461 20
400 4,000 Jan-15 3,720 2,625 3,125 16,400 43,441 139,769 21

Feb-15 3,220 2,885 3,000 7,824 19,646 59,570 19
200 2,000 Mar-15 3,245 2,575 3,100 15,871 32,223 92,270 22
Apr-15 3,225 2,780 3,200 4,473 11,849 37,662 21
May-15 3,200 2,650 2,650 5,750 13,376 38,655 19
Jun-15 2,830 2,595 2,730 5,876 28,399 74,631 21
Jul-15 2,730 2,325 2,570 4,955 6,096 15,177 19
Aug-15 2,590 1,240 1,240 11,219 54,193 94,438 20
Sep-15 1,390 1,125 1,145 7,792 37,041 48,962 21
Mining Index Nov-15 1,450 1,000 1,055 12,635 53,398 64,680 21
January 2014 - July 2018 Dec-15 1,075 750 795 14,641 58,906 50,212 19
240%
Jan-16 810 675 705 6,783 24,223 17,711 20
200% Feb-16 1,030 670 980 8,295 42,286 33,708 20
Mar-16 1,575 905 1,495 29,560 151,335 176,007 21
160% Apr-16 1,860 1,345 1,675 41,121 191,482 308,183 21
May-16 1,795 1,365 1,390 14,206 78,526 126,885 20
120% Jun-16 1,575 1,145 1,500 17,947 127,148 179,906 22
112.0% Jul-16 1,950 1,530 1,685 19,301 135,075 245,778 16
Aug-16 1,855 1,450 1,520 22,016 101,320 171,706 22
80%
Sep-16 1,655 1,365 1,530 11,522 53,802 82,545 21
49.0% Oct-16 1,590 1,310 1,310 14,941 909,607 1,400,464 21
40% 37.2% Nov-16 1,660 1,230 1,260 28,753 178,931 257,465 22
Dec-16 1,435 1,220 1,320 15,317 121,114 162,424 20
-
Jan-17 1,600 1,315 1,390 20,187 136,996 199,542 21

-40% Feb-17 2,920 1,410 2,500 46,906 467,218 1,067,137 19
Mar-17 3,720 2,330 3,500 57,984 365,778 1,092,635 22
-80% Apr-17 3,680 2,990 2,990 49,795 400,942 1,050,924 17
Jun-17 3,030 2,250 2,290 27,842 145,737 378,923 15
Jul-17 2,820 2,230 2,660 36,069 213,359 547,302 21
Volume (Million Sh.) 601 383 2,115 10,784 21,668 Sep-17 3,490 720 780 88,089 1,631,663 1,493,821 19
Value (Billion Rp) 1,911 745 3,163 12,059 27,182 Oct-17 825 740 790 48,035 3,639,640 1,858,428 22
Days 242 244 246 238 138 Dec-17 1,040 815 890 63,265 1,359,075 1,227,199 18
Price (Rupiah) Jan-18 1,380 890 1,240 106,993 3,857,456 4,186,882 22

High 3,900 3,720 1,950 3,720 1,600 Feb-18 1,575 1,095 1,575 108,432 1,489,806 1,965,123 19
Low 1,900 750 670 720 855 Mar-18 1,600 1,150 1,210 87,703 13,607,263 17,950,648 21
Close 3,800 795 1,320 890 990 Apr-18 1,330 1,140 1,200 71,548 1,013,308 1,254,410 21
Close* 855 179 297 890 990 May-18 1,290 1,075 1,120 53,237 543,974 640,237 20
Jun-18 1,210 955 965 38,177 465,372 510,844 13
PER (X) 82.83 -1.02 11.31 4.91 14.70 Jul-18 1,040 855 990 67,953 691,113 674,264 22
PER Industry (X) 3.23 0.60 -4.41 6.26 6.85
PBV (X) 1.13 0.27 0.45 1.01 0.84


Receivables 2,659,839 3,244,547 7,185,845 8,607,993 4,435,898

488,941 587,263 944,427 1,204,573 1,159,875 60,000
Inventories
Current Assets 9,340,974 15,314,561 15,239,928 26,757,979 24,702,852
45,000
Fixed Assets 1,100,754 1,010,773 69,468 920,236 722,231
Other Assets 252,712 293,476 68,974 1,042,586 842,976
30,000
Total Assets 33,607,629 42,649,068 48,331,047 69,918,327 73,535,868
Growth (%) 26.90% 13.32% 44.67% 5.17% 15,000

Growth (%) 46.04% 12.36% 40.01% 3.39%
Paid up Capital 333,245 333,245 333,245 333,245 950,000 20,894
19,003
Par Value 100 100 100 25 100
16,632
Retained Earnings 8,181,334 6,544,383 8,481,607 10,274,227 11,520,318 11,445 11,965

10,283
Total Equity 11,445,084 10,283,261 11,964,877 19,003,401 20,894,364
12,369
Growth (%) -10.15% 16.35% 58.83% 9.95% 8,107
Total Revenues 9,336,085 9,211,621 8,066,327 12,540,610 8,333,892

Growth (%) -1.33% -12.43% 55.47%
-418
2014 2015 2016 2017 Jun-18
Cost of Revenues 5,966,469 6,159,117 4,699,567 6,840,503 3,727,353

Gross Profit 3,369,615 3,052,504 3,366,760 5,700,107 4,606,539
Expenses (Income) 1,989,400 5,198,099 -130,607 1,696,908 2,485,561
Operating Profit - - - 4,003,199 2,120,978 12,541
Growth (%)
12,541
9,336 9,212
8,334
9,982
Income before Tax 1,380,216 -2,145,595 3,497,366 4,003,199 2,120,978 7,424
Tax 1,216,227 491,718 843,537 1,894,463 1,385,326

Profit for the period 170,582 -2,728,746 2,513,190 1,785,745 737,337 4,866
Growth (%) N/A N/A -28.95%

2,307
Period Attributable 125,774 -2,666,048 2,482,403 2,044,909 596,937 -251
Comprehensive Income 425,258 -2,664,885 2,619,495 2,569,345 644,194 2014 2015 2016 2017 Jun-18
Comprehensive Attributable 380,450 -2,602,187 2,588,707 2,823,129 509,456
Current Ratio (%) 160.59 198.41 131.80 152.67 168.08
2,513
Dividend (Rp) - - - - -
1,786
2,513
EPS (Rp) 37.74 -800.03 744.92 153.41 62.84

BV (Rp) 3,434.43 3,085.79 3,590.41 1,425.63 2,199.41 1,465
737
DAR (X) 0.66 0.76 0.75 0.73 0.72 171 2015
DER(X) 1.94 3.15 3.04 2.68 2.52
416
ROA (%) 0.51 -6.40 5.20 2.55 1.00 -632 2014 2016 2017 Jun-18
ROE (%) 1.49 -26.54 21.00 9.40 3.53
GPM (%) 36.09 33.14 41.74 45.45 55.27 -1,680
OPM (%) - - - 31.92 25.45

NPM (%) 1.83 -29.62 31.16 14.24 8.85
-2,729
-2,729
Yield (%) - - - - -

COMPANY REPORT
MNCN
MEDIA NUSANTARA CITRA TBK.
Company Profile
PT Media Nusantara Citra Tbk, or MNCN, operates 4 of Indonesia’s 11 Free-to-Air (FTA) television stations
and has additional core businesses in television content production and delivery. Established on 17 June
1997, the Company underwent listing on the Indonesia Stock Exchange (IDX) a decade later, specifically
on 22 June 2007, under the IDX ticker code ‘MNCN’.
MNCN further operates 20 Pay-TV channels that complement its current 4 FTA stations, specifically RCTI,
MNCTV, GTV and iNews. MNCN’s other business interests and involvement in radio and print media, plus
talent management and TV production companies effectively support its core business focus.
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.
MNCN managed to increase local content production throughout its stations to an impressive 90% rate,
Now MNCN generates a staggering content library of more than 300,000 hours, and continuously
increasing.
The Company’s head office is located at MNC Tower 26th Floor Jl.Kebon Sirih No.17-19, Jakarta 10340,
and it had a total of 7,853 employees as of June 30th, 2018.
August 2018
Disclaimer:

MNCN Media Nusantara Citra Tbk.

Industry Sub Sector : Advertising, Printing And Media (95) Market Capitalization : 14,061,961,947,500
78 | 14.1T | 0.21% | 80.20%
60 | 8.89T | 0.44% | 78.31%

Established Date : 17-Jun-1997 1. PT Global Mediacom Tbk. 7,625,843,342 : 53.42%
Listing Date : 22-Jun-2007 2. Public (<5%) 6,650,260,158 : 46.58%
Underwriter IPO :
Bhakti Securities DIVIDEND ANNOUNCEMENT
Danareksa Sekuritas Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2007 5.00 01-Dec-08 02-Dec-08 04-Dec-08 19-Dec-08 F
2009 5.00 02-Oct-09 05-Oct-09 07-Oct-09 21-Oct-09 I
BOARD OF COMMISSIONERS 2009 7.00 29-Nov-10 30-Nov-10 02-Dec-10 17-Dec-10 F
1. Hary Tanoesoedibjo 2010 15.00 29-Nov-11 30-Nov-11 02-Dec-11 16-Dec-11 F
2. Adam Chesnoff 2011 35.00 22-Jun-12 25-Jun-12 27-Jun-12 11-Jul-12 F
3. Sutanto *) 2012 55.00 06-Sep-13 09-Sep-13 11-Sep-13 25-Sep-13 F
*) Independent Commissioners 2013 25.00 24-Dec-13 27-Dec-13 02-Jan-14 16-Jan-14 I
2013 35.00 14-Oct-14 15-Oct-14 17-Oct-14 31-Oct-14 F
1. David Fernando Audy 2016 42.00 07-Jul-17 10-Jul-17 12-Jul-17 02-Aug-17 F
2. Angela Herliani Tanoesoedibjo 2017 15.00 03-Jul-18 04-Jul-18 06-Jul-18 25-Jul-18 F
3. Arya Mahendra Sinulingga
4. Ella Kartika ISSUED HISTORY
5. Faisal Dharma Setiawan Listing Trading
6. Gwenarty Setiadi No. Type of Listing Shares Date Date
7. Kanti Mirdiati Imansyah 1. First Issue 4,125,000,000 22-Jun-07 22-Jun-07
2. Company Listing 9,625,000,000 T: 22-Jun-07 : 22-Feb-08
AUDIT COMMITTEE 3. EMSOP Conversion II 23,504,500 T: 29-Nov-10 : 06-Jan-11
1. Sutanto 4. EMSOP Conversion II & III 52,960,500 T: 17-Feb-11 : 19-Jul-11
2. Hery Lusnanto 5. EMSOP Conversion II, III & IV 37,076,500 T: 26-Jul-11 : 21-May-12
3. John Aristianto Prasetio 6. EMSOP Conversion III & IV 3,988,000 04-Aug-11 04-Aug-11
4. Mohamed Idwan Ganie 7. EMSOP Conversion II, III, IV & V 79,965,500 T: 23-May-12 : 15-Jun-12
8. ESOP/MSOP Conversion II, III, IV & V 8,114,000 T: 22-Oct-12 : 19-Nov-12
CORPORATE SECRETARY 9. ESOP/MSOP Conversion III, IV & V 517,500 T: 29-Oct-12 : 01-Nov-12
I Made Ray Karuna Wijaya 10. ESOP/MSOP Conversion III, IV, V & VI 143,344,500 T: 29-May-13 : 27-Nov-13
11. Revision of ESOP/MSOP III, IV, V & VI -8,000 24-Jun-13 24-Jun-13
HEAD OFFICE 12. ESOP/MSOP Conversion V & VI 176,625,500 T: 28-May-14 : 19-Nov-14
MNC Tower 27th Floor 13. ESOP/MSOP Conversion VIII 15,000 18-Aug-16 18-Aug-16
Jl. Kebon Sirih Kav. 17 - 19
Jakarta 10340
Phone : (021) 390-0885
Fax : (021) 390-4965
Homepage : www.mnc.co.id
Email : investor.relations@mncgroup.com
ray.wijaya@mncgroup.com


TRADING ACTIVITIES
Media Nusantara Citra Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
3,400 480 Jan-14 2,650 2,180 2,235 58,448 341,933 821,125 20
Feb-14 2,535 2,200 2,535 46,230 333,935 789,549 20
2,975 420 Mar-14 2,850 2,470 2,630 49,623 301,730 791,129 20
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
2,550 360
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
2,125 300
Aug-14 2,980 2,640 2,805 40,202 189,092 537,696 20
Sep-14 3,230 2,650 3,195 41,293 189,308 558,581 22
1,700 240
Oct-14 3,200 2,690 2,800 56,669 171,058 499,114 23
Nov-14 2,820 2,265 2,405 64,961 382,816 934,593 20
1,275 180 Dec-14 2,555 2,180 2,540 60,432 309,297 746,815 20
850 120 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
425 60 Mar-15 3,160 2,725 2,865 75,423 367,509 1,087,081 22
Apr-15 2,880 2,200 2,205 65,901 462,054 1,284,744 21
May-15 2,345 2,050 2,060 65,110 320,034 708,945 19
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
Aug-15 2,190 1,450 1,895 59,482 214,122 398,068 20
Sep-15 1,855 1,410 1,640 47,061 161,442 264,114 21
Trade, Sevices and Investment Index Nov-15 1,840 1,595 1,625 38,242 108,085 184,152 21
January 2014 - July 2018 Dec-15 1,925 1,635 1,855 36,738 153,831 273,103 19
80%
Jan-16 1,870 1,185 1,190 56,486 529,219 764,824 20
60% Feb-16 2,050 1,190 1,860 98,075 938,608 1,413,108 20
Mar-16 2,220 1,810 2,180 89,938 622,524 1,274,909 21
40% Apr-16 2,415 1,960 2,350 67,257 621,218 1,402,403 21
37.2%
May-16 2,370 2,040 2,100 58,610 490,138 1,117,685 20
20% Jun-16 2,360 2,090 2,200 49,067 366,494 817,268 22
Jul-16 2,330 2,120 2,150 41,555 274,504 612,491 16
10.0%
Aug-16 2,320 1,780 1,920 83,815 595,158 1,210,038 22
-
Sep-16 2,120 1,845 2,020 65,762 542,254 1,092,521 21
Oct-16 2,200 1,955 2,100 81,402 271,923 564,522 21
-20%
Nov-16 2,120 1,640 1,735 67,861 405,014 733,066 22
Dec-16 1,900 1,470 1,755 40,351 548,551 1,036,970 20
-40%
Jan-17 1,810 1,625 1,695 34,701 274,029 474,246 21

-60% Feb-17 1,715 1,495 1,660 58,961 505,787 819,734 19
-62.8%
Mar-17 1,850 1,610 1,850 54,977 521,093 887,844 22
-80% Apr-17 1,910 1,685 1,825 49,862 281,494 510,372 17
Jun-17 1,970 1,795 1,840 36,667 200,942 379,448 15
Jul-17 1,855 1,700 1,800 43,135 232,977 414,990 21
Days 242 244 246 237 138 Dec-17 1,360 1,225 1,285 54,477 568,072 731,628 17
Price (Rupiah) Jan-18 1,565 1,275 1,525 68,430 651,655 940,502 22

High 3,230 3,160 2,415 2,050 1,650 Feb-18 1,650 1,200 1,535 86,578 475,376 732,518 19
Low 2,180 1,410 1,185 1,225 850 Mar-18 1,555 1,345 1,415 95,059 514,427 757,894 21
Close 2,540 1,855 1,755 1,285 985 Apr-18 1,500 1,250 1,325 132,958 501,308 717,334 21
Close* 2,540 1,855 1,755 1,285 985 May-18 1,445 1,180 1,200 104,375 434,593 550,957 20
Jun-18 1,225 900 920 49,299 504,029 546,154 13
PER (X) 19.58 22.34 13.02 12.27 11.05 Jul-18 1,045 850 985 63,757 384,036 361,322 22
PER Industry (X) 22.13 14.53 19.07 17.44 3.45
PBV (X) 4.14 2.77 2.57 1.90 1.33


Cash & Cash Equivalents 1,132,001 306,810 499,174 468,985 1,112,201 16,250
Receivables 3,215,473 3,395,309 3,053,716 2,942,929 3,150,186

1,634,832 1,593,231 1,950,303 2,358,897 2,481,164 13,000
Inventories
Current Assets 8,670,175 7,726,851 6,638,010 6,718,435 7,608,616
9,750
Fixed Assets 2,659,203 4,145,497 4,824,369 5,306,989 5,414,067
Other Assets 530,609 78,920 108,322 173,375 173,587
6,500
Total Assets 13,609,033 14,474,557 14,239,867 15,057,291 16,088,788
Growth (%) 6.36% -1.62% 5.74% 6.85% 3,250
Current Liabilities 892,276 1,039,805 4,198,739 1,459,288 1,716,297 -

Long Term Liabilities 3,323,544 3,868,359 554,030 3,796,920 3,783,582 2014 2015 2016 2017 Jun-18
Growth (%) 16.42% -3.17% 10.59% 4.64%
Paid up Capital 1,427,609 1,427,609 1,427,610 1,427,610 1,427,610 9,393 9,566 9,487 9,801

Par Value 100 100 100 100 100
8,429

Total Equity 9,393,213 9,566,393 9,487,098 9,801,083 10,588,909
6,269
Growth (%) 1.84% -0.83% 3.31% 8.04% 4,108
Total Revenues 6,665,978 6,444,935 6,730,276 7,052,686 3,689,544

Growth (%) -3.32% 4.43% 4.79%
-212
2014 2015 2016 2017 Jun-18
Cost of Revenues 2,813,381 2,860,607 2,874,751 2,670,473 1,489,845

Gross Profit 3,852,597 3,584,328 3,855,525 4,382,213 2,199,699
Expenses (Income) 1,308,818 1,903,550 1,702,593 1,966,563 1,205,013
6,666 6,730
6,445
Growth (%)
7,053
5,614

Income before Tax 2,543,779 1,680,778 2,152,932 2,415,650 994,686 4,175 3,690
Tax 660,347 403,810 669,977 848,104 291,624

Growth (%) -32.20% 16.13% 5.70%

1,298
Current Ratio (%) 971.69 743.11 158.10 460.39 443.32
1,883
Dividend (Rp) 63.00 - 42.00 15.00 - 1,883
EPS (Rp) 123.42 83.05 95.87 101.80 44.58 1,568

1,483
BV (Rp) 657.97 670.10 664.54 686.54 741.72 1,499
1,277
DAR (X) 0.31 0.34 0.33 0.35 0.34
DER(X) 0.45 0.51 0.50 0.54 0.52
1,115
703
ROA (%) 13.84 8.82 10.41 10.41 4.37 731
ROE (%) 20.05 13.35 15.63 15.99 6.64

GPM (%) 57.79 55.61 57.29 62.14 59.62 347
OPM (%) - - - - -
NPM (%) 28.25 19.81 22.03 22.23 19.06
-38
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 51.04 - 43.81 14.73 -
Yield (%) 2.48 - 2.39 1.17 -

COMPANY REPORT
PGAS
PERUSAHAAN GAS NEGARA 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 Jakarta, Western Java Region until South Sumatera,
2. Regional Distribution II, covers Eastern Java Region, Semarang, Tarakan and Sorong
3. Regional Distribution III, covers Medan, Batam, Pekan Baru, and Dumai
4. Regional Transmission covers Sumatera-Java Region-Singapore.
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,
PT Transportasi Gas Indonesia, dan PT Nusantara Regas
The Company’s had Office si located at Jl. KH. Zainul Arifin No.20, Krukut, Tamansari, Jakarta. As of June
30th, 2018, the company and subsidiaries had a total of 2,316 employees.
August 2018
Disclaimer:

PGAS Perusahaan Gas Negara Tbk.

Industry Sub Sector : Energy (71) Market Capitalization : 41,210,563,933,200
29 | 41.2T | 0.62% | 63.84%
8 | 46.7T | 2.34% | 31.75%

Established Date : 01-Feb-1905 1. PT Pertamina (Persero) 13,809,038,755 : 56.96%
Underwriter IPO :
PT. Danareksa Sekuritas (Affiliated) DIVIDEND ANNOUNCEMENT
PT. ABN AMRO Asia Securities Indonesia Bonus Cash Recording Payment
F/I
2004 1.71 23-Dec-04 27-Dec-04 29-Dec-04 30-Dec-04 I
1. Ign. Wiratmaja Puja 2005 104.43 30-Jun-06 03-Jul-06 05-Jul-06 14-Jul-06 F
2. Hambra 2006 208.45 22-Jun-07 25-Jun-07 27-Jun-07 11-Jul-07 F
3. Kiswodarmawan *) 2008 41.74 15-Jul-09 16-Jul-09 21-Jul-09 04-Aug-09 F
4. M. Ikhsan 2009 10.00 08-Dec-09 09-Dec-09 11-Dec-09 23-Dec-09 I
5. Paiman Rahardjo *) 2009 144.20 08-Jul-10 09-Jul-10 13-Jul-10 27-Jul-10 F
*) Independent Commissioners 2010 10.20 27-Dec-10 28-Dec-10 30-Dec-10 04-Jan-11 I
2010 144.24 19-Jul-11 20-Jul-11 22-Jul-11 04-Aug-11 F
BOARD OF DIRECTORS 2011 10.87 30-Nov-11 01-Dec-11 05-Dec-11 16-Dec-11 I
1. Jobi Triananda Hasjim 2011 123.75 12-Jun-12 13-Jun-12 15-Jun-12 29-Jun-12 F
2. Danny Praditya 2012 202.77 10-May-13 13-May-13 15-May-13 29-May-13 F
3. Desima Equalita Siahaan 2013 210.40 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
4. Dilo Seno Widagdo 2016 75.18 12-May-17 15-May-17 17-May-17 07-Jun-17 F
5. Nusantara Suyono 2017 31.61 04-May-18 07-May-18 09-May-18 30-May-18 F
6. Said Reza Pahlevy
ISSUED HISTORY
AUDIT COMMITTEE Listing Trading
1. Paiman Rahardjo No. Type of Listing Shares Date Date
2. Hendrika Nora O. Sinaga 1. First Issue 1,296,296,000 15-Dec-03 15-Dec-03
3. Kurnia Sari Dewi 2. Company Listing 3,024,691,000 T: 15-Dec-03 : 15-Jun-04
4. Luki Karunia 3. MSOP Conversion 215,637,305 T: 13-Dec-04 : 28-Dec-06
5. Yovita Lasti Handini 4. MSOP Conversion II 3,261,500 T: 10-Nov-06 : 16-Feb-07
5. ESOP Conversion 53,551,388 T: 18-Jan-08 : 19-Feb-08
CORPORATE SECRETARY 6. Stock Split 18,373,748,772 04-Aug-08 04-Aug-08
Rachmat Hutama 7. Govt. Project Fund Conversion 1,274,322,231 T: 16-Apr-09 : 16-Oct-09
HEAD OFFICE
Jl. KH. Zainul Arifin No. 20, Krukut, Tamansari, Jakarta Barat
Jakarta - 11140
Indonesia
Phone : (021) 633-4838
Fax : (021) 633-3080
Homepage : www.pgn.co.id
Email : corporate@pgn.co.id
investor.relations@pgn.co.id
contact.center@pgn.co.id


TRADING ACTIVITIES
Perusahaan Gas Negara Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
6,200 1,600 Jan-14 4,780 4,120 4,770 106,143 731,381 3,299,365 20
Feb-14 5,075 4,660 4,900 61,662 432,426 2,115,770 20
5,425 1,400 Mar-14 5,350 4,850 5,125 73,931 547,714 2,773,081 20
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
4,650 1,200
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
3,875 1,000
Aug-14 6,100 5,700 5,800 53,579 296,364 1,739,898 20
Sep-14 6,100 5,825 6,000 55,429 355,364 2,126,646 22
3,100 800
Oct-14 6,075 5,600 5,950 58,653 516,524 3,001,773 23
Nov-14 6,225 5,825 5,950 44,381 382,941 2,307,438 20
2,325 600 Dec-14 6,075 5,775 6,000 56,406 424,716 2,521,726 20
1,550 400 Jan-15 6,050 4,995 5,050 92,906 887,651 4,816,967 21

Feb-15 5,500 5,050 5,200 66,654 624,549 3,312,449 19
775 200 Mar-15 5,400 4,600 4,800 96,871 782,389 3,975,099 22
Apr-15 4,890 4,100 4,100 121,106 952,937 4,338,820 21
May-15 4,360 3,855 4,295 106,169 768,554 3,183,949 19
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
Aug-15 4,020 2,720 2,780 113,149 640,762 1,974,156 20
Sep-15 2,965 2,150 2,530 168,748 1,736,188 4,599,265 21
Infrastructure, Utilities and Transportation Index Nov-15 3,080 2,560 2,655 94,906 782,374 2,261,286 21
January 2014 - July 2018 Dec-15 2,915 2,305 2,745 96,859 569,389 1,521,635 19
80%
Jan-16 2,770 2,350 2,405 96,049 607,085 1,517,643 20
60% Feb-16 2,720 2,365 2,635 83,348 1,011,133 2,548,238 20
Mar-16 2,760 2,585 2,615 91,592 1,160,564 3,080,358 21
40% Apr-16 2,860 2,555 2,620 115,718 1,454,665 3,904,125 21
37.2%
May-16 2,620 2,170 2,480 88,312 835,314 2,007,454 20
20% Jun-16 2,560 2,270 2,340 71,250 675,312 1,651,499 22
Jul-16 3,440 2,340 3,290 137,007 1,862,286 5,379,890 16
9.9%
Aug-16 3,520 2,920 3,020 126,142 1,542,283 5,002,784 22
-
Sep-16 3,000 2,630 2,870 104,517 1,443,381 4,059,641 21
Oct-16 2,940 2,440 2,560 95,368 1,380,816 3,649,852 21
-20%
Nov-16 2,690 2,200 2,650 81,469 661,513 1,637,985 22
Dec-16 2,940 2,460 2,700 62,582 785,642 2,142,389 20
-40%
Jan-17 2,900 2,580 2,880 62,106 505,603 1,403,585 21

-60% Feb-17 3,050 2,680 2,830 58,894 660,069 1,874,921 19
-63.0%
Mar-17 2,850 2,410 2,530 97,897 811,989 2,084,960 22
-80% Apr-17 2,560 2,360 2,430 55,081 644,313 1,589,096 17
Jun-17 2,470 2,240 2,250 53,939 438,428 1,031,920 15
Jul-17 2,390 2,200 2,250 60,234 623,981 1,423,338 21
Volume (Million Sh.) 5,365 9,592 13,420 11,717 15,339 Sep-17 2,110 1,455 1,575 145,060 1,650,177 2,782,081 19
Frequency (Thou. X) 712 1,230 1,153 1,046 1,197 Nov-17 1,890 1,685 1,700 89,144 989,515 1,789,044 22
Days 242 244 246 238 138 Dec-17 1,800 1,555 1,750 62,999 862,905 1,467,437 18
Price (Rupiah) Jan-18 2,860 1,725 2,610 304,921 4,396,458 10,485,910 22

High 6,225 6,050 3,520 3,050 2,860 Feb-18 2,760 2,240 2,670 175,152 2,451,212 6,173,790 19
Low 4,120 2,150 2,170 1,365 1,505 Mar-18 2,700 2,120 2,300 132,335 1,788,412 4,294,365 21
Close 6,000 2,745 2,700 1,750 1,700 Apr-18 2,450 1,955 1,985 125,570 1,542,645 3,480,050 21
Close* 6,000 2,745 2,700 1,750 1,700 May-18 2,270 1,790 2,070 151,622 1,814,765 3,664,025 20
Jun-18 2,320 1,820 1,995 95,455 1,062,740 2,223,787 13
PER (X) 15.09 12.02 15.61 21.87 9.32 Jul-18 2,090 1,505 1,700 212,234 2,283,129 3,815,355 22
PER Industry (X) 20.04 9.49 8.16 16.02 12.90
PBV (X) 4.24 1.60 1.62 0.98 0.92


Receivables 5,125,490 5,675,984 7,459,754 7,170,964 8,948,932

812,909 636,891 877,280 823,999 1,078,904 80,000
Inventories
Current Assets 23,141,099 25,247,134 28,547,123 24,495,434 32,634,189
60,000
Fixed Assets 30,904,599 28,269,719 24,569,486 23,118,494 24,024,798
Other Assets 97,582 85,452 67,748 71,881 37,690
40,000
Total Assets 77,295,913 95,197,541 91,823,679 85,259,312 93,151,777
Growth (%) 23.16% -3.54% -7.15% 9.26% 20,000

Growth (%) 25.82% -3.27% -14.52% 10.21%
2,424,151 2,424,151 2,424,151 2,424,151 2,424,151 44,305
Paid up Capital 46,770
42,595 43,176
Par Value 100 100 100 100 100
37,229

Total Equity 36,848,736 44,305,239 42,594,718 43,176,296 46,770,200
27,688
Growth (%) 20.24% -3.86% 1.37% 8.32% 18,147
Total Revenues 42,389,226 44,979,267 39,431,687 40,232,030 23,369,138

Growth (%) 6.11% -12.33% 2.03%
-935
2014 2015 2016 2017 Jun-18
Cost of Revenues 24,172,867 30,862,955 27,514,762 29,431,133 16,683,670

Gross Profit 18,216,359 14,116,312 11,916,925 10,800,896 6,685,468
Expenses (Income) 6,003,474 5,827,914 5,948,087 5,693,077 2,971,482
42,389
40,232
Growth (%) -32.13% -27.99% -14.43% 39,432
44,979
35,803
Other Income (Expenses) -40,958 -1,793,392 -796,178 -1,374,668 -525,598

Income before Tax 12,171,927 6,495,006 5,172,660 3,733,152 3,188,388 26,628 23,369
Tax 2,873,884 591,768 1,026,527 1,730,974 1,080,712
Growth (%) -36.51% -29.77% -51.71%

8,276
Current Ratio (%) 170.62 258.13 260.58 387.44 406.67
9,298
Dividend (Rp) - - 75.18 31.61 - 9,298
EPS (Rp) 370.78 242.58 168.67 80.00 86.72

BV (Rp) 1,520.07 1,827.66 1,757.10 1,781.09 1,929.34 7,401
5,903
DAR (X) 0.52 0.53 0.54 0.49 0.50
DER(X) 1.10 1.15 1.16 0.97 0.99
5,504
4,146
ROA (%) 12.03 6.20 4.52 2.35 2.26 3,608
ROE (%) 25.23 13.32 9.73 4.64 4.51 2,002 2,108

GPM (%) 42.97 31.38 30.22 26.85 28.61 1,711
OPM (%) 28.81 18.43 15.14 12.70 15.89

NPM (%) 21.93 13.12 10.51 4.98 9.02
-186
2014 2015 2016 2017 Jun-18

Payout Ratio (%) - - 44.57 39.51 -
Yield (%) - - 2.78 1.81 -

COMPANY REPORT
PTBA
BUKIT ASAM TBK.
Company Profile
PT Bukit Asam Tbk, was established on March 2, 1981, based on Government Regulation No. 42 year
1980. In 1950, the Government of the Republic of Indonesia ratified the establishment of Perusahaan
Negara Tambang Arang Bukit Asam (PN TABA). On March 2, 1981, PN TABA changed its status into
Limited Liability Company under the name of PT Tambang Batubara Bukit Asam (Persero), which is later
called PTBA or the Company. In order to improve the development of coal industry in Indonesia, in
1990, the Government merged Perum Tambang Batubara and the Company into a single entity.
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.
On December 2017 Bukit Asam was awarded as Best State-Owned Mining and Oil and Gas Sector in
the Financial Figures Awards organized by Investor Magazine, Most Trusted Companies, Top IT
Implementation On Energy Sector 2017, Platinum with Excellent Predicate - Category A of Coal Mining,
etc.
The Company is located at Jl. Parigi No. 1 Tanjung Enim 31716, Sumatera Selatan. As of June 30th, 2018,
the Company had a total of 2,225 permanent employees.
August 2018
Disclaimer:

PTBA Bukit Asam Tbk.

23 | 51.6T | 0.77% | 59.78%
22 | 22.7T | 1.13% | 52.85%

Established Date : 02-Mar-1981 1. PT Indonesia Asahan Aluminium (Persero) 7,490,437,495 : 65.02%
Listing Date : 23-Dec-2002 2. PT Bukit Asam Tbk. 980,283,500 : 8.51%
PT Danareksa Sekuritas (Affiliated)
F/I
1. Agus Suhartono *) 2003 58.00 09-Jun-04 10-Jun-04 14-Jun-04 21-Jun-04 F
2. Robert Heri *) 2004 5.80 22-Dec-04 23-Dec-04 28-Dec-04 29-Dec-04 I
3. Johan O. Silalahi *) 2004 87.48 05-Jul-05 06-Jul-05 08-Jul-05 22-Jul-05 F
4. Muhammad Said Didu 2005 101.54 02-Jun-06 05-Jun-06 07-Jun-06 16-Jun-06 F
5. Purnomo Sinar Hadi 2006 105.39 29-May-07 30-May-07 04-Jun-07 15-Jun-07 I
*) Independent Commissioners 2007 164.97 18-Jun-08 19-Jun-08 23-Jun-08 07-Jul-08 F
2009 66.75 25-Nov-09 26-Nov-09 01-Dec-09 15-Dec-09 I
1. Arviyan Arifin 2010 66.75 20-Dec-10 21-Dec-10 23-Dec-10 29-Dec-10 I
2. Adib Ubaidillah 2010 456.37 04-Jul-11 05-Jul-11 07-Jul-11 21-Jul-11 F
3. Fuad Iskandar Zulkarnain Fachroeddin 2011 103.46 28-Nov-11 29-Nov-11 01-Dec-11 15-Dec-11 I
4. Joko Pramono 2011 700.48 29-May-12 30-May-12 01-Jun-12 15-Jun-12 F
5. Mega Satria 2012 720.75 20-May-13 21-May-13 23-May-13 07-Jun-13 F
6. Orias Petrus Moedak 2013 461.97 28-Apr-14 29-Apr-14 02-May-14 16-May-14 F
7. Suryo Eko Hadianto 2014 324.57 07-Apr-15 08-Apr-15 10-Apr-15 30-Apr-15 I
2015 289.73 21-Apr-16 22-Apr-16 26-Apr-16 18-May-16 F
AUDIT COMMITTEE 2016 285.50 28-Apr-17 02-May-17 04-May-17 24-May-17 F
1. Johan O. Silalahi 2017 318.52 18-Apr-18 19-Apr-18 23-Apr-18 11-May-18 F
2. Ai Supardini
3. Barlian Dwinegara ISSUED HISTORY
Listing Trading
Suherman 1. First Issue 346,500,000 23-Dec-02 23-Dec-02
2. Company Listing 1,785,000,000 23-Dec-02 23-Dec-02
HEAD OFFICE 3. Warrant 172,631,850 T: 14-Dec-04 : 28-Dec-05
Kadin Indonesia Tower 15th Floor 4. Stock Split 11,520,659,250 14-Dec-17 14-Dec-17
Jl. HR Rasuna Said Blok X-5, Kav 2 & 3
Jakarta 12950
Phone : (021) 525-4014
Fax : (021) 525-4002
Homepage : www.ptba.com
Email : corsec@bukitasam.co.id
suherman@bukitasam.co.id


TRADING ACTIVITIES
Bukit Asam Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,800 160 Jan-14 10,600 8,975 9,250 44,679 108,649 1,027,710 20
Feb-14 9,750 9,100 9,575 32,839 63,663 597,991 20
4,200 140 Mar-14 9,650 9,125 9,325 31,705 71,519 681,021 20
Apr-14 10,375 9,275 9,875 37,927 93,241 911,383 20
May-14 11,900 9,650 10,700 38,397 110,174 1,171,293 18
3,600 120
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
3,000 100
Aug-14 13,900 11,450 13,350 44,905 84,949 1,111,304 20
Sep-14 14,150 12,600 13,200 42,360 51,496 687,303 22
2,400 80
Oct-14 13,625 11,100 12,950 42,019 46,227 578,241 23
Nov-14 13,575 11,875 13,150 24,797 40,529 519,174 20
1,800 60 Dec-14 13,650 12,200 12,500 30,786 39,684 519,559 20
1,200 40 Jan-15 12,525 10,100 11,375 41,254 60,844 690,666 21

Feb-15 11,725 10,350 10,675 36,099 55,708 616,697 19
600 20 Mar-15 11,250 10,150 10,750 36,562 57,946 619,774 22
Apr-15 11,175 9,350 9,350 27,080 36,037 394,197 21
May-15 10,925 9,100 9,825 32,764 50,187 507,612 19
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
Aug-15 6,625 5,025 5,850 39,760 73,026 428,155 20
Sep-15 6,275 5,350 5,625 25,247 47,937 291,890 21
Mining Index Nov-15 7,825 5,600 5,600 60,412 204,268 1,249,230 21
January 2014 - July 2018 Dec-15 5,800 4,305 4,525 76,121 143,545 708,778 19
125%
115.4% Jan-16 4,610 4,150 4,450 44,672 60,404 267,843 20
100% Feb-16 5,475 4,295 5,075 55,758 109,081 530,510 20
Mar-16 7,225 5,075 6,275 60,540 157,836 1,005,316 21
75% Apr-16 7,800 6,125 7,050 52,267 135,945 964,444 21
May-16 7,250 6,125 6,375 36,670 78,690 531,329 20
50% Jun-16 8,300 6,425 7,700 49,476 114,910 891,749 22
49.0%
Jul-16 10,375 7,650 9,850 39,970 80,512 761,313 16
37.2%
Aug-16 10,900 9,300 9,925 49,123 94,241 971,469 22
25%
Sep-16 10,450 9,075 9,625 33,524 79,943 803,546 21
Oct-16 13,100 9,875 11,900 52,590 105,386 1,225,768 21
-
Nov-16 13,775 11,000 11,800 68,734 113,610 1,403,970 22
Dec-16 13,625 11,725 12,500 38,603 67,509 853,687 20
-25%
Jan-17 12,825 10,675 11,600 30,453 47,180 552,513 21

-50% Feb-17 11,850 10,625 11,175 36,698 57,220 641,083 19
Mar-17 13,350 10,200 13,200 42,277 82,932 961,215 22
-75% Apr-17 14,200 11,975 12,675 36,205 64,571 838,708 17
Jun-17 11,975 10,725 11,950 29,865 64,742 735,063 15
Jul-17 13,375 11,750 13,100 33,026 50,973 646,176 21
Days 242 244 246 238 138 Dec-17 11,575 2,230 2,460 50,027 330,292 1,016,289 18
Price (Rupiah) Jan-18 3,480 2,430 3,400 90,220 872,026 2,637,990 22

High 14,150 12,525 13,775 14,200 4,630 Feb-18 3,430 3,020 3,170 75,684 607,442 1,980,779 19
Low 8,975 4,305 4,150 2,230 2,430 Mar-18 3,240 2,660 2,940 81,488 584,906 1,705,239 21
Close 12,500 4,525 12,500 2,460 4,480 Apr-18 3,570 2,950 3,240 96,902 831,016 2,759,370 21
Close* 2,500 905 2,500 2,460 4,480 May-18 3,950 3,170 3,800 99,107 758,977 2,757,125 20
Jun-18 4,280 3,750 3,970 78,935 487,052 1,969,532 13
PER (X) 13.65 5.12 20.54 6.33 10.02 Jul-18 4,630 3,910 4,480 146,085 825,611 3,528,064 22
PER Industry (X) 3.23 0.60 -4.41 6.26 6.85
PBV (X) 3.53 1.12 3.00 2.05 3.98


Receivables 1,439,401 1,595,580 2,285,065 5,389,678 3,527,276

1,033,360 1,233,175 1,102,290 1,156,012 990,483 18,000
Inventories
Current Assets 7,416,805 7,598,476 8,349,927 11,117,745 9,819,773
13,500
Fixed Assets 3,987,565 5,579,117 6,087,746 6,410,363 6,078,471
Other Assets 119,719 102,318 154,010 515,735 471,496
9,000
Total Assets 14,812,023 16,894,043 18,576,774 21,987,482 20,634,652
Growth (%) 14.06% 9.96% 18.36% -6.15% 4,500

Growth (%) 23.86% 5.49% 2.03% -6.18%
Paid up Capital 1,152,066 1,152,066 1,152,066 1,152,066 1,152,066 13,800
12,953

Par Value 500 500 500 500 100 9,288
10,985
8,671
Total Equity 8,670,842 9,287,547 10,552,405 13,799,985 12,953,431
8,170
Growth (%) 7.11% 13.62% 30.78% -6.13% 5,354
Total Revenues 13,077,962 13,733,627 14,058,869 19,471,030 10,525,078

Growth (%) 5.01% 2.37% 38.50%
-276
2014 2015 2016 2017 Jun-18
Cost of Revenues 9,056,219 9,593,903 9,657,400 10,964,524 6,101,412

Gross Profit 4,021,743 4,139,724 4,401,469 8,506,506 4,423,666
Expenses (Income) 1,711,545 1,725,384 1,870,662 2,607,991 901,010
Growth (%) 4.51% 4.82% 133.07%

19,471
13,734 14,059
13,078
15,499

10,525
Tax 655,512 626,685 672,511 1,554,397 975,370

Growth (%) 0.89% -0.62% 124.62%

3,583
Current Ratio (%) 207.51 154.35 165.58 246.34 254.71
4,547
Dividend (Rp) 324.57 289.73 285.50 318.52 - 4,547
EPS (Rp) 875.02 883.59 870.69 1,942.79 223.63

BV (Rp) 3,763.17 4,030.82 4,579.77 5,989.23 1,124.37 3,620
DAR (X) 0.41 0.45 0.43 0.37 0.37 2,620

DER(X) 0.71 0.82 0.76 0.59 0.59
2,692
2,019 2,037 2,024

ROA (%) 13.63 12.06 10.90 20.68 12.70 1,764
ROE (%) 23.29 21.93 19.18 32.95 20.22

GPM (%) 30.75 30.14 31.31 43.69 42.03 837
OPM (%) 17.66 17.58 18.00 30.29 33.47

NPM (%) 15.44 14.83 14.40 23.35 24.89
-91
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 37.09 32.79 32.79 16.40 -
Yield (%) 2.60 6.40 2.28 12.95 -

COMPANY REPORT
PTPP
PP (PERSERO) TBK.
Company Profile
PT Pembangunan Perumahan (Persero) Tbk. was established under the name of NV Pembangunan
Perumahan based on the Notarial Deed No. 48 of August 26th, 1953.
The Company's vision 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.
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 Construction and Investment
Company in Indonesia which Internationally Competitive".
In 2017 the company received awards: The Best Industry Marketing Champion 2017 for
Construction Sector, Top 5 Most Admired CEO in Construction Sector, Gold Winner for Product
Development Category in The Best Corporate Marketing, Special Award for The Best Distruption
Category, The Best CMO Digital Branding and Marketing Initiative, etc.
The Company’s head office is located at Plaza PP 7th floor, Jl. Letjend. T. Simatupang No.57, Pasar
Rebo, Jakarta 13760. As of June 30th, 2018 the Company had 2,142 employees.
August 2018
Disclaimer:

PTPP PP (Persero) Tbk.

82 | 12.9T | 0.19% | 81.00%
47 | 11.0T | 0.55% | 71.91%

Established Date : 26-Aug-1953 1. Republic of Indonesia 3,161,947,836 : 51.00%
Listing Date : 09-Feb-2010 2. Public (<5%) 3,037,949,518 : 49.00%
Underwriter IPO :
PT Mandiri Sekuritas DIVIDEND ANNOUNCEMENT
PT Danareksa Sekuritas Bonus Cash Recording Payment
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
2011 14.88 07-Jun-12 08-Jun-12 12-Jun-12 15-Jun-12 F
BOARD OF COMMISSIONERS 2012 19.19 22-May-13 23-May-13 27-May-13 10-Jun-13 F
1. Andi Gani Nena Wea *) 2013 26.06 21-Apr-14 22-Apr-14 24-Apr-14 07-May-14 F
2. Arie Setiadi Moerwanto 2014 21.97 28-May-15 29-May-15 03-Jun-15 18-Jun-15 F
3. Aryanto Sutadi *) 2016 49.52 23-Mar-17 24-Mar-17 29-Mar-17 13-Apr-17 F
4. Muhammad Khoerur Roziqin 2017 46.88 04-May-18 07-May-18 09-May-18 25-May-18 F
5. Sumardi
6. Wismana Adi Suryabrata ISSUED HISTORY
*) Independent Commissioners Listing Trading
BOARD OF DIRECTORS 1. Negara RI (Series A) 1 09-Feb-10 00-Jan-00
1. Lukman Hidayat 2. Public Offering 1,038,976,500 09-Feb-10 09-Feb-10
2. Abdul Haris Tatang 3. Company Listing 2,469,642,759 09-Feb-10 09-Feb-10
3. Agus Purbianto 4. PP Employees Cooperative 1,333,817,240 09-Feb-10 08-Oct-10
4. Anton Satyo Hendrianto 5. Right Issue I 194,201,459 15-Dec-16 15-Dec-16
5. M. Aprindy 6. Right Issue I 802,295,711 16-Dec-16 16-Dec-16
6. Mohamad Toha Fauzi 7. Right Issue I 251,487,198 19-Dec-16 19-Dec-16
8. Right Issue I 90,074,959 21-Dec-16 21-Dec-16
AUDIT COMMITTEE 9. Right Issue I 19,401,527 27-Dec-16 27-Dec-16
1. Aryanto Sutadi
2. Handoko Tripriyono
3. Sularso
CORPORATE SECRETARY
Nugroho Agung Sanyoto
HEAD OFFICE
PP Plaza
Jl. Letjend. TB Simatupang No.57 Pasar Rebo
Jakarta 13760
Phone : (021) 877-927343
Fax : (021) 877-927343
Homepage : www.pt-pp.com
Email : corsec@pt-pp.com
Info@pp.co.id


TRADING ACTIVITIES
PP (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,600 160 Jan-14 1,370 1,105 1,350 18,040 347,504 443,365 20
Feb-14 1,465 1,295 1,405 25,148 496,128 694,477 20
4,025 140 Mar-14 1,850 1,385 1,830 30,450 618,599 1,026,256 20
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
3,450 120
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
2,875 100
Aug-14 2,505 2,200 2,465 33,365 266,229 641,406 20
Sep-14 2,535 2,100 2,150 34,176 272,040 638,895 22
2,300 80
Oct-14 2,650 2,135 2,630 39,143 400,368 945,914 23
Nov-14 3,070 2,545 3,060 33,238 263,067 753,555 20
1,725 60 Dec-14 3,625 3,060 3,575 43,018 339,061 1,125,226 20
1,150 40 Jan-15 3,925 3,475 3,915 56,124 403,485 1,503,473 21

Feb-15 4,245 3,850 4,060 50,094 269,943 1,079,418 19
575 20 Mar-15 4,070 3,645 3,795 60,287 350,386 1,344,045 22
Apr-15 4,100 3,600 3,925 50,080 355,458 1,380,910 21
May-15 4,215 3,800 4,020 40,119 176,464 711,806 19
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
Aug-15 3,960 2,960 3,310 68,100 249,986 862,115 20
Sep-15 3,585 3,110 3,465 42,260 165,650 568,854 21
January 2014 - July 2018 Dec-15 3,920 3,600 3,875 20,317 66,476 250,396 19
315%
Jan-16 4,015 3,770 3,900 28,192 121,525 477,360 20
270% Feb-16 4,015 3,645 3,690 44,874 188,256 727,058 20
Mar-16 3,985 3,670 3,860 37,755 159,238 608,761 21
225% Apr-16 3,895 3,550 3,665 25,658 124,271 465,637 21
May-16 3,720 3,300 3,700 24,761 105,027 373,538 20
180% Jun-16 3,980 3,600 3,900 35,263 269,621 1,039,186 22
Jul-16 4,170 3,780 3,860 25,698 185,919 730,981 16
Aug-16 4,850 3,820 4,350 56,495 369,885 1,623,553 22
135%
Sep-16 4,690 3,970 4,190 49,366 315,966 1,369,699 21
Oct-16 4,430 4,020 4,120 34,997 209,592 882,500 21
90%
83.9% Nov-16 4,260 3,880 4,250 33,444 173,932 702,795 22
Dec-16 4,250 3,510 3,810 40,317 367,445 1,414,387 20
45%
37.2%
29.5%
Jan-17 3,840 3,440 3,590 41,657 322,631 1,170,603 21
- Feb-17 3,810 3,470 3,480 35,899 302,769 1,097,521 19
Mar-17 3,630 3,250 3,310 55,119 503,864 1,712,769 22
-45% Apr-17 3,510 3,000 3,180 43,801 464,183 1,514,204 17
Jun-17 3,250 3,040 3,140 25,550 206,278 647,407 15
Jul-17 3,370 2,840 3,030 46,285 395,937 1,225,815 21
Days 242 244 246 238 138 Dec-17 2,720 2,360 2,640 35,709 251,671 646,311 18
Price (Rupiah) Jan-18 3,280 2,550 3,130 66,169 578,960 1,748,989 22

High 3,625 4,245 4,850 3,840 3,280 Feb-18 3,230 2,910 3,100 36,145 286,611 882,682 19
Low 1,105 2,960 3,300 2,250 1,840 Mar-18 3,170 2,570 2,610 36,668 282,028 808,877 21
Close 3,575 3,875 3,810 2,640 2,080 Apr-18 2,880 2,370 2,430 27,530 188,501 507,122 21
Close* 3,398 3,683 3,810 2,640 2,080 May-18 2,710 2,000 2,580 43,986 455,343 1,081,453 20
Jun-18 2,680 1,840 1,995 22,067 219,190 533,345 13
PER (X) 44.75 25.35 31.26 11.26 13.44 Jul-18 2,290 1,930 2,080 36,775 262,850 556,210 22
PER Industry (X) 16.29 13.36 24.89 14.52 14.33
PBV (X) 8.06 3.67 4.12 1.15 0.88


Public Accountant : Hertanto, Grace, Karunawan (Member of TIAG International)
Receivables 3,135,044 4,111,735 6,297,782 8,304,037 10,558,532

36,000
Inventories 2,570,346 2,498,625 2,655,638 2,420,508 4,832,022

27,000
Investment 417,692 622,833 634,235 1,766,580 2,241,025
Fixed Assets 493,576 2,989,066 4,177,883 5,789,644 6,631,131
18,000
Other Assets - - 21,204 17,525 31,426
Total Assets 14,611,865 19,128,812 31,232,767 41,782,781 44,054,986
9,000
Growth (%) 30.91% 63.28% 33.78% 5.44%
-
Trade Payable 7,021,633 7,887,792 10,237,242 14,506,169 13,725,985 2014 2015 2016 2017 Jun-18
Growth (%) 14.63% 45.87% 34.76% 6.46%
14,736
14,243
Paid up Capital 484,244 484,244 619,990 619,990 619,990

10,796
11,730
Par Value 100 100 100 100 100

8,724
Total Equity 2,390,270 5,119,072 10,796,158 14,243,110 14,736,424 5,718

5,119
Growth (%) 114.16% 110.90% 31.93% 3.46%

2,390
2,712

Total Revenues 12,427,371 14,217,373 16,458,884 21,502,260 9,507,151
-295
2014 2015 2016 2017 Jun-18

Growth (%) 14.40% 15.77% 30.64%
Cost of Revenues 10,894,711 12,210,412 14,003,355 18,250,798 8,044,369

Gross Profit 1,532,660 2,006,961 2,455,530 3,251,462 1,462,782
Operating Expenses 275,958 409,797 487,330 1,192,421 676,299 21,502
Operating Profit 1,256,702 1,597,164 1,968,199 2,059,040 786,482

21,502
Growth (%) 27.09% 23.23% 4.62% 16,459

14,217
17,116
12,427
Other Income (Expenses) -337,257 -309,630 -264,589 -266,778 -142,425 12,729
9,507
Income before Tax 919,445 1,287,534 1,703,610 1,792,262 644,058
Tax 387,380 441,971 552,178 68,409 10,957 8,343
Profit for the period 532,065 845,563 1,151,432 1,723,853 633,101

Growth (%) 58.92% 36.17% 49.71%
3,956
-430
Period Attributable 531,951 740,323 1,023,369 1,453,141 479,752 2014 2015 2016 2017 Jun-18
Comprehensive Income 532,065 2,037,652 1,277,066 1,808,446 621,998
Comprehensive Attributable 531,951 1,932,412 1,149,004 1,522,097 468,676
Dividend (Rp) 21.97 - 49.52 46.88 - 1,724
EPS (Rp) 109.88 174.62 185.72 278.05 102.11

BV (Rp) 493.61 1,057.13 1,741.34 2,297.31 2,376.88 1,372
1,151
DAR (X) 0.84 0.73 0.65 0.66 0.67
846
DER(X) 5.11 2.74 1.89 1.93 1.99
1,021
3.64 4.42 3.69 4.13 1.44 633

ROA (%) 669
532
ROE (%) 22.26 16.52 10.67 12.10 4.30
GPM (%) 12.33 14.12 14.92 15.12 15.39 317
OPM (%) 10.11 11.23 11.96 9.58 8.27

NPM (%) 4.28 5.95 7.00 8.02 6.66
-34
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 20.00 - 26.66 16.86 -
Yield (%) 1.10 - 2.48 2.35 -

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. With a vision to become the leading
entertainment and information provider for the nation of Indonesia the company has a mission to be
the first choise in terms on quality content provider, to entertain, educate and provide information to
Indonesia
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, PT Indonesia Entertainmen Group, PT Indonesia Entertainment
Studio, and PT Surya Citra Dinamika.
In 2017 the company received awards: 100 Fastest Growing Awards 2017, Fastest Growing Company
2017, The Winner of Indonesia Most Innovative Business Awards 2017 kategori advertising, printing, and
media, Top Emiten 2017, etc.
The head office of the Company is located in SCTV Tower – Senayan City
Jl. Asia Afrika Lot. 19, Jakarta 10270. As of June 30th, 2018, the company and subsidiaries had 2,752
employees.
August 2018
Disclaimer:

SCMA Surya Citra Media Tbk.

Industry Sub Sector : Advertising, Printing And Media (95) Market Capitalization : 29,974,282,529,700
37 | 30.0T | 0.45% | 67.72%
54 | 9.96T | 0.50% | 75.53%

Established Date : 29-Jan-1999 1. PT Elang Mahkota Teknologi 8,896,355,951 : 60.84%
Underwriter IPO :
PT CLSA Indonesia DIVIDEND ANNOUNCEMENT
F/I
2002 15.00 20-Aug-02 21-Aug-02 26-Aug-02 09-Sep-02 I
1. Raden Soeyono 2003 5.00 05-Aug-04 06-Aug-04 10-Aug-04 25-Aug-04 F
2. Glenn Muhammad Surya Yusuf *) 2004 35.00 23-Jun-05 24-Jun-05 28-Jun-05 12-Jul-05 F
3. Jay Geoffrey Wacher 2004 25.00 08-Dec-05 09-Dec-05 13-Dec-05 28-Dec-05 F
4. Raden Alvin Widarta Sariaatmadja 2005 50.16 22-Jun-06 23-Jun-06 27-Jun-06 11-Jul-06 F
5. Suryani Zaini *) 2006 8.00 15-Dec-06 18-Dec-06 20-Dec-06 05-Jan-07 I
*) Independent Commissioners 2007 20.00 01-Aug-07 02-Aug-07 06-Aug-07 21-Aug-07 I
2007 8.00 10-Sep-08 11-Sep-08 15-Sep-08 29-Sep-08 F
1. Sutanto Hartono 2008 130.00 19-Jun-09 22-Jun-09 24-Jun-09 07-Jul-09 F
2. Harsiwi Achmad 2009 170.00 16-Jun-10 17-Jun-10 21-Jun-10 05-Jul-10 F
3. Imam Sudjarwo 2010 60.00 08-Nov-10 09-Nov-10 11-Nov-10 23-Nov-10 I
4. Mutia Nandika 2010 225.00 27-Jun-11 28-Jun-11 01-Jul-11 12-Jul-11 F
5. Rusmiyati Djajaseputra 2011 35.00 27-Jun-11 28-Jun-11 01-Jul-11 12-Jul-11 I
2011 125.00 14-Jun-12 15-Jun-12 19-Jun-12 03-Jul-12 F
AUDIT COMMITTEE 2012 48.00 06-May-13 07-May-13 10-May-13 24-May-13 F
1. Glenn Muhammad Surya Yusuf 2013 15.00 21-Nov-13 22-Nov-13 26-Nov-13 10-Dec-13 I
2. Emmanuel Bambang Suyitno 2013 51.00 18-Aug-14 19-Aug-14 21-Aug-14 04-Sep-14 F
3. Patricia M. Sugondo 2014 70.00 28-Apr-15 29-Apr-15 04-May-15 21-May-15 F
2015 55.00 03-Dec-15 04-Dec-15 08-Dec-15 22-Dec-15 I
CORPORATE SECRETARY 2015 28.00 25-May-16 26-May-16 30-May-16 06-Jun-16 F
Gilang Iskandar 2016 55.00 02-Dec-16 05-Dec-16 07-Dec-16 22-Dec-16 I
2016 18.00 26-May-17 29-May-17 31-May-17 08-Jun-17 F
HEAD OFFICE 2017 40.00 12-Dec-17 13-Dec-17 15-Dec-17 22-Dec-17 I
SCTV Tower, Senayan City 2017 35.00 02-Jul-18 03-Jul-18 05-Jul-18 25-Jul-18 F
Jl. Asia Afrika Lot. 19
Jakarta 10270 ISSUED HISTORY
Phone : (021) 2793-5599 Listing Trading
Fax : (021) 2793-5598 No. Type of Listing Shares Date Date
Homepage : www.scm.co.id 1. First Issue 375,000,000 16-Jul-02 16-Jul-02
Email : corsec@scm.co.id 2. First Issue (Greenshoe) 56,250,000 16-Jul-02 16-Jul-02
gilang.iskandar@indosiar.com 3. Company Listing 1,443,750,000 T: 16-Jul-02 : 28-Feb-03
septriana@sctv.co.id 4. Warrant 18,750,000 05-Mar-03 05-Mar-03
5. ESOP Conversion 56,250,000 T: 23-May-08 : 14-Jun-12
6. Stock Split 7,800,000,000 29-Oct-12 29-Oct-12
7. Merger with IDKM 4,871,601,234 01-May-13 01-May-13


TRADING ACTIVITIES
Surya Citra Media Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,200 800 Jan-14 2,750 2,530 2,650 24,535 120,592 313,839 20
Feb-14 2,805 2,410 2,805 46,992 310,886 785,287 20
3,675 700 Mar-14 3,300 2,700 3,200 60,060 357,086 1,066,820 20
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
3,150 600
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
2,625 500
Aug-14 4,200 3,690 4,110 55,141 696,177 2,697,996 20
Sep-14 4,190 3,725 3,825 46,879 173,175 681,805 22
2,100 400
Oct-14 3,935 3,325 3,380 79,426 339,658 1,192,961 23
Nov-14 3,485 3,055 3,210 60,418 320,661 1,054,759 20
1,575 300 Dec-14 3,510 3,190 3,500 40,549 921,781 3,194,315 20
1,050 200 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
525 100 Mar-15 3,680 3,150 3,395 70,054 418,705 1,451,881 22
Apr-15 3,470 2,710 2,900 55,063 425,381 1,395,129 21
May-15 3,240 2,875 3,090 47,429 179,558 548,669 19
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
Aug-15 2,920 2,285 2,730 57,267 316,060 823,566 20
Sep-15 2,845 2,470 2,740 43,883 189,189 491,120 21
Trade, Sevices and Investment Index Nov-15 3,455 2,950 3,030 65,032 232,719 740,646 21
January 2014 - July 2018 Dec-15 3,185 2,950 3,100 47,180 197,277 603,671 19
75%
Jan-16 3,320 2,625 2,700 56,917 235,608 681,337 20
60% Feb-16 3,075 2,525 2,900 50,749 274,548 774,420 20
Mar-16 3,320 2,785 3,140 57,381 281,605 838,593 21
45% Apr-16 3,305 3,010 3,200 39,120 196,512 623,649 21
37.2% May-16 3,540 3,070 3,350 36,123 305,490 1,013,464 20
30% Jun-16 3,550 3,120 3,300 40,830 356,521 1,177,885 22
Jul-16 3,340 3,130 3,160 35,176 171,534 557,692 16
Aug-16 3,330 2,900 3,030 48,006 191,931 605,290 22
15%
10.0% Sep-16 3,100 2,680 2,800 52,386 264,429 757,270 21
Oct-16 2,900 2,540 2,650 42,134 361,101 961,538 21
-
Nov-16 2,650 2,130 2,510 74,555 817,341 1,923,101 22
Dec-16 2,890 2,460 2,800 37,832 396,526 1,016,794 20
-15%
-23.4% Jan-17 2,970 2,560 2,820 39,750 225,902 631,439 21

-30% Feb-17 3,180 2,780 2,950 46,930 285,740 839,994 19
Mar-17 2,950 2,540 2,700 55,255 305,286 832,308 22
-45% Apr-17 2,950 2,720 2,860 36,519 251,457 715,448 17
Jun-17 2,910 2,560 2,590 32,546 256,497 690,218 15
Jul-17 2,680 2,160 2,360 64,559 738,555 1,698,849 21
Days 242 244 246 238 138 Dec-17 2,560 2,180 2,480 39,517 356,214 852,263 18
Price (Rupiah) Jan-18 2,690 2,330 2,690 44,103 459,484 1,142,785 22

High 4,200 4,040 3,550 3,180 2,980 Feb-18 2,980 2,610 2,850 36,025 343,182 937,773 19
Low 2,410 2,285 2,130 1,935 1,965 Mar-18 2,910 2,620 2,710 30,897 254,074 705,956 21
Close 3,500 3,100 2,800 2,480 2,050 Apr-18 2,840 2,370 2,560 30,170 194,897 515,762 21
Close* 3,500 3,100 2,800 2,480 2,050 May-18 2,560 2,150 2,460 39,007 293,514 688,516 20
Jun-18 2,530 1,990 2,060 40,667 202,162 456,583 13
PER (X) 34.72 29.75 26.57 24.87 17.75 Jul-18 2,310 1,965 2,050 38,994 315,308 661,774 22
PER Industry (X) 22.13 14.53 19.07 17.44 3.45
PBV (X) 16.34 13.28 9.80 7.76 6.34


Cash & Cash Equivalents 1,246,109 685,722 454,732 233,517 489,628 6,250
Receivables 1,291,374 1,411,872 1,533,512 1,556,361 1,949,401

462,439 532,656 689,291 765,985 837,566 5,000
Inventories
Current Assets 3,200,366 2,843,500 2,952,181 2,708,606 3,505,290
3,750
Fixed Assets 761,978 962,114 966,766 1,029,336 1,052,417
Other Assets 27,969 29,919 32,558 40,403 36,439
2,500
Total Assets 4,728,436 4,565,964 4,820,612 5,385,808 6,191,253
Growth (%) -3.44% 5.58% 11.72% 14.95% 1,250
Current Liabilities 819,158 860,470 990,468 743,336 1,204,886 -

Total Liabilities 1,250,248 1,152,288 1,115,204 980,415 1,465,181
Growth (%) -7.84% -3.22% -12.09% 49.45%
Paid up Capital 731,080 731,080 731,080 731,080 731,080 4,726 4,405

3,478 3,414
Par Value 50 50 50 50 50
3,762

Total Equity 3,478,188 3,413,676 3,705,408 4,405,393 4,726,071
2,798
Growth (%) -1.85% 8.55% 18.89% 7.28% 1,834
Total Revenues 4,055,702 4,237,980 4,524,136 4,453,849 2,478,808

Growth (%) 4.49% 6.75% -1.55%
-95
2014 2015 2016 2017 Jun-18
Gross Profit 4,055,702 4,237,980 4,524,136 4,453,849 2,478,808
Expenses (Income) 2,138,831 2,223,431 2,520,794 2,681,737 1,398,787
4,238
4,056
Growth (%) 5.10% -0.56% -11.54%
4,524
3,601
Other Income (Expenses) 221 23,918 20,210 9,932 16,781

2,479
Tax 468,818 513,470 509,923 464,295 260,055

Growth (%) 5.06% -0.69% -12.80%

832
Current Ratio (%) 390.69 330.46 298.06 364.39 290.92
1,522 1,511
Dividend (Rp) 70.00 83.00 73.00 75.00 - 1,448
1,318
1,522
EPS (Rp) 99.42 104.20 102.65 91.06 57.76

BV (Rp) 237.88 233.47 253.42 301.29 323.23 1,211
DAR (X) 0.26 0.25 0.23 0.18 0.24 837

DER(X) 0.36 0.34 0.30 0.22 0.31
901
ROA (%) 30.63 33.32 31.35 24.47 13.51 590
ROE (%) 41.64 44.57 40.78 29.91 17.70

GPM (%) 100.00 100.00 100.00 100.00 100.00 280
OPM (%) 47.26 47.54 44.28 39.79 43.57

NPM (%) 35.71 35.90 33.40 29.59 33.76
-30
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 70.41 79.66 71.11 82.36 -
Yield (%) 2.00 2.68 2.61 3.02 -

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, previously named PT Semen Gresik (Persero) Tbk. is a company
engaged in cement industry, inaugurated in Gresik on 7 August 1957. The company is the largest
cement producer in Indonesia and listed as the first State Owned Enterprise (SOE) to go regional.
Continuing its support for the nation development, the company is currently intensifying its
downstream cement products development, expanding market coverage and ensuring the sufficient
of production.
Cement is the company’s core business and the business activities in production and distribution of
cement product and downstream cement products. The company produces several cement types. Its
flagship product is portland cement type II-V (Non OPC). The Company also produce specific types and
mixed cement products for limited usage. The following lists all cement types are Portland Cement
Type I (Ordinary Portland cement – OPC), Portland Cement Type II-V, Special Blended Cement (SBC),
Portland Pozzolan Cement (PPC), Portland Composite Cement (PCC), Super Mansory Cement (SMC),
Oil Well Cement (OWC) – Class G HRC, Super White Cement (SWC).
Portland Cement type I and PPC are available in the retail market, while the othe types are produced
by order and in certain quantity. The products are sold primarily for domestic market with some
allocation for export. They are mainly sold in packs and the rest is sold in bulk.
The company establish subsidiaries, associates and affiliates that are engaged in cement related
business, from cement production, distribution to product usage, which cover Coal mining, trading and
transportation, ready mix concrete production, limestone and clay mining, cement bag producer,
industrial development, information system, investment, loading and unloading services and
construction, cement raw material production, tranportation management service, transhipment
service, cement packing and distribution and developer, civil contractors, mechanical and electrical
contractors, workshop and manufacturing, steel fabrication, heavy equipment rental and maintanance
services, engineering, and industrial and training bureau.
The head office of the Company is located in Gedung Utama Semen Indonesia Jl. Veteran, Gresik 61122.
As of June 30th, 2018, the Company and its subsidiaries had 9,953 employees.
August 2018
Disclaimer:

SMGR Semen Indonesia (Persero) Tbk.

27 | 45.1T | 0.67% | 62.58%
36 | 15.1T | 0.76% | 65.28%

Established Date : 25-Mar-1953 1. Republic of Indonesia qq Ministry of Finance 3,025,406,000 : 51.01%
Underwriter IPO :
PT Buanamas Investindo DIVIDEND ANNOUNCEMENT
PT Ficorinvest Bonus Cash Recording Payment
F/I
PT Indovest Securities Year Shares Dividend Cum Date Ex Date Date Date
PT Merchant Investment Corporation 1991 284.70 12-Jun-92 15-Jun-92 22-Jun-92 13-Jul-92 F
PT Multicor 1992 267.75 14-Jun-93 15-Jun-93 24-Jun-93 22-Jul-93 F
PT Nikko Securities Indonesia 1993 164.18 13-Jul-94 14-Jul-94 21-Jul-94 19-Aug-94 F
PT Nomura Indonesia 1994 184.51 03-Jul-95 04-Jul-95 12-Jul-95 11-Aug-95 F
PT Primarindo Daya Investama 1995 109.62 11-Jul-96 12-Jul-96 22-Jul-96 20-Aug-96 F
PT Datindo Entrycom 1997 156.82 09-Jul-98 10-Jul-98 20-Jul-98 18-Aug-98 F
1998 135.06 13-Jul-99 14-Jul-99 22-Jul-99 20-Aug-99 F
1. Sutiyoso 2000 231.14 05-Jul-01 06-Jul-01 13-Jul-01 20-Jul-01 F
2. Astrea Primanto Bhakti 2001 267.61 18-Jul-02 19-Jul-02 24-Jul-02 07-Aug-02 F
3. Hendrika Nora O. Sinaga 2002 115.03 18-Jul-03 21-Jul-03 23-Jul-03 06-Aug-03 F
4. M. Choliq *) 2003 174.68 23-Jul-04 26-Jul-04 28-Jul-04 11-Aug-04 F
5. Nasaruddin Umar *) 2003 112.73 22-Dec-04 23-Dec-04 28-Dec-04 07-Jan-05 F
6. Sony Subrata 2004 39.67 05-Jan-05 06-Jan-05 10-Jan-05 18-Jan-05 I
7. Wahyu Hidayat 2004 267.51 18-Jul-05 19-Jul-05 21-Jul-05 01-Aug-05 F
2006 1,092.06 19-Jul-07 20-Jul-07 24-Jul-07 07-Aug-07 F
1. Hendi Prio Santoso 2008 215.19 21-Jul-09 22-Jul-09 24-Jul-09 07-Aug-09 F
2. Adi Munandir 2009 58.00 07-Dec-09 08-Dec-09 10-Dec-09 23-Dec-09 I
3. Agung Yunanto 2009 250.45 19-Jul-10 20-Jul-10 22-Jul-10 05-Aug-10 F
4. Benny Wendry 2010 58.00 27-Dec-10 28-Dec-10 30-Dec-10 04-Jan-11 I
5. Doddy Sulasmono Diniawan 2010 248.26 27-Jul-11 28-Jul-11 01-Aug-11 15-Aug-11 F
6. Fadjar Judisiawan 2011 330.89 17-Jul-12 18-Jul-12 20-Jul-12 03-Aug-12 F
7. Tri Abdisatrijo 2012 367.74 29-May-13 30-May-13 03-Jun-13 17-Jun-13 F
2013 407.42 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
AUDIT COMMITTEE 2014 375.34 23-Apr-15 24-Apr-15 28-Apr-15 20-May-15 F
1. Nasaruddin Umar 2015 304.91 20-May-16 23-May-16 25-May-16 16-Jun-16 F
2. Astera Primanto Bhakti 2017 135.83 08-May-18 09-May-18 14-May-18 31-May-18 F
3. Elok Tresnaningsih
4. Sahat Pardede ISSUED HISTORY
Listing Trading
Agung Wiharto 1. First Issue 40,000,000 08-Jul-91 08-Jul-91
2. Partial Listing 30,000,000 08-Jul-91 17-May-92
HEAD OFFICE 3. Company Listing 78,288,000 02-Jun-95 02-Jun-95
Semen Gresik Main Building 4. Right Issue 444,864,000 10-Aug-95 10-Aug-95
Jl. Veteran 5. Stock Split 5,338,368,000 07-Aug-07 07-Aug-07
Gresik 61122
Phone : (031) 398-1732
Fax : (031) 398-3209
Homepage : www.semenindonesia.com
Email : info@semenindonesia.com


TRADING ACTIVITIES
Semen Indonesia (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
18,000 80.0 Jan-14 15,900 13,775 14,200 55,849 192,064 2,808,267 20
Feb-14 15,275 13,500 15,000 52,652 170,519 2,515,811 20
15,750 70.0 Mar-14 17,400 14,600 15,800 61,774 237,643 3,743,636 20
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
13,500 60.0
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
11,250 50.0
Aug-14 16,900 16,100 16,225 55,142 133,507 2,210,220 20
Sep-14 16,500 14,700 15,425 60,859 164,556 2,624,106 22
9,000 40.0
Oct-14 16,325 14,500 15,875 73,117 161,075 2,483,215 23
Nov-14 16,350 15,000 16,000 45,771 109,742 1,736,450 20
6,750 30.0 Dec-14 16,800 15,350 16,200 62,239 123,648 2,004,124 20
4,500 20.0 Jan-15 16,475 13,950 14,575 86,580 270,215 4,033,800 21

Feb-15 15,150 14,350 14,875 52,352 153,045 2,256,306 19
2,250 10.0 Mar-15 14,950 12,525 13,650 70,512 170,929 2,401,500 22
Apr-15 13,875 12,400 12,500 56,978 172,031 2,302,086 21
May-15 13,500 12,500 13,450 45,572 155,975 2,054,754 19
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
Aug-15 10,300 7,100 9,250 75,560 175,405 1,544,000 20
Sep-15 10,500 8,100 9,050 66,098 150,962 1,445,208 21
Basic Industry and Chemicals Index Nov-15 11,775 9,625 10,625 66,730 144,770 1,571,643 21
January 2014 - July 2018 Dec-15 11,500 10,275 11,400 55,352 119,304 1,300,428 19
80%
Jan-16 11,475 10,000 11,050 57,333 159,850 1,708,818 20
60% 61.3% Feb-16 11,175 9,925 10,250 56,610 140,574 1,491,946 20
Mar-16 10,750 10,000 10,175 61,762 148,201 1,554,343 21
40% Apr-16 10,800 9,800 9,900 50,072 127,500 1,319,702 21
37.2%
May-16 9,900 8,675 9,000 58,603 146,011 1,342,001 20
20% Jun-16 9,350 8,700 9,350 62,183 148,752 1,344,282 22
Jul-16 9,850 8,950 9,375 78,841 355,241 3,346,668 16
Aug-16 11,875 9,400 9,900 95,879 497,710 5,273,970 22
-
Sep-16 10,700 9,625 10,100 67,010 275,818 2,802,929 21
Oct-16 10,750 9,650 9,850 51,571 167,531 1,702,923 21
-20%
Nov-16 9,900 8,050 8,875 69,707 171,006 1,502,710 22
Dec-16 9,500 8,875 9,175 44,800 115,618 1,064,342 20
-40%
-47.6%
Jan-17 9,500 8,575 9,025 43,912 111,066 1,003,395 21
-60% Feb-17 9,875 9,025 9,625 41,592 120,445 1,133,685 19
Mar-17 9,625 8,750 9,000 49,228 131,215 1,205,612 22
-80% Apr-17 9,225 8,650 8,825 34,829 127,117 1,132,891 17
Jun-17 10,250 9,025 10,000 39,381 111,872 1,090,751 15
Jul-17 10,400 9,750 9,950 47,774 162,433 1,643,111 21
Volume (Million Sh.) 2,173 1,883 2,454 1,543 893 Sep-17 10,600 9,025 10,125 49,376 162,073 1,612,693 19
Days 242 244 246 238 138 Dec-17 10,400 9,125 9,900 41,697 102,696 1,001,753 18
Price (Rupiah) Jan-18 11,725 10,100 11,150 63,721 144,536 1,577,515 22

High 17,400 16,475 11,875 11,100 11,775 Feb-18 11,775 10,100 11,125 50,769 123,175 1,343,811 19
Low 13,500 7,100 8,050 8,575 6,500 Mar-18 11,425 9,550 10,350 53,664 140,481 1,463,936 21
Close 16,200 11,400 9,175 9,900 7,600 Apr-18 11,025 9,200 9,650 52,919 103,791 1,046,206 21
Close* 16,200 11,400 9,175 9,900 7,600 May-18 9,650 8,250 8,400 55,697 141,070 1,233,040 20
Jun-18 8,825 7,000 7,125 41,034 124,680 1,015,971 13
PER (X) 17.63 14.96 13.94 29.16 23.20 Jul-18 7,850 6,500 7,600 47,998 115,668 840,181 22
PER Industry (X) 16.60 4.10 20.86 13.10 13.08
PBV (X) 4.09 2.46 1.91 1.93 1.47


Receivables 3,432,557 3,628,641 4,018,284 4,995,015 4,970,370

2,811,704 2,408,974 2,671,145 3,686,332 3,899,336 40,000
Inventories
Current Assets 11,648,545 10,538,704 10,373,159 13,801,819 13,464,280
30,000
Fixed Assets 20,221,067 25,167,683 30,864,750 32,523,310 33,040,142
Other Assets 326,264 360,109 347,866 351,743 377,521
20,000
Total Assets 34,314,666 38,153,119 44,226,896 48,963,503 49,169,006
Growth (%) 11.19% 15.92% 10.71% 0.42% 10,000

Growth (%) 15.04% 27.45% 35.69% 0.08%
30,439
Paid up Capital 593,152 593,152 593,152 593,152 593,152 30,630
27,441
Par Value 100 100 100 100 100

24,381

Total Equity 25,002,452 27,440,798 30,574,391 30,439,052 30,629,575
18,133
Growth (%) 9.75% 11.42% -0.44% 0.63% 11,884
Total Revenues 26,987,035 26,948,004 26,134,306 27,813,664 13,308,440

Growth (%) -0.14% -3.02% 6.43%
-613
2014 2015 2016 2017 Jun-18
Cost of Revenues 15,388,431 16,302,008 16,278,434 19,854,065 9,509,711

Gross Profit 11,598,604 10,645,996 9,855,872 7,959,599 3,798,729
Expenses (Income) 4,507,838 4,795,073 4,771,251 5,213,052 2,480,444
Operating Profit - - - - - 26,987 26,948 27,814
26,134
Growth (%)
27,814
22,140

13,308
Tax 1,517,189 1,325,482 549,585 703,520 353,145
Growth (%) -18.81% 0.21% -54.95%

5,118
Current Ratio (%) 220.90 159.70 127.25 156.78 153.79
5,574
Dividend (Rp) 375.34 304.91 - 135.83 - 5,574
EPS (Rp) 938.35 762.28 762.30 339.54 163.76 4,525 4,535

BV (Rp) 4,215.18 4,626.27 5,154.56 5,131.75 5,163.87 4,437
DAR (X) 0.27 0.28 0.31 0.38 0.38

DER(X) 0.37 0.39 0.45 0.61 0.61
3,300
ROA (%) 16.24 11.86 10.25 4.17 1.96 2,043

2,163
ROE (%) 22.29 16.49 14.83 6.71 3.15

965
GPM (%) 42.98 39.51 37.71 28.62 28.54 1,026
OPM (%) - - - - -
NPM (%) 20.65 16.79 17.35 7.35 7.25
-111
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 40.00 40.00 - 40.00 -
Yield (%) 2.32 2.67 - 1.37 -

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 Company is the biggest integrated vertical – textile garment producer In South East
Asia. The Company achieves a global recognition and serves 55 countries worldwide, with a mission
to deliver the most innovative product in accordance to customers need and requirements, to be a
profitable and growth-oriented company for the interest of all stakeholders, to provide and
maintain a conducive work environment for our employees, to give contribution and value
enhancement to the surrounding society
The Company 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.
The Company 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 its customer returns to the
Company and becomes partners to develop their products and design.
Until 2017, the Company has 1 subsidiary, PT Sinar Pantja Djaja which supports the parent
company’s business.
The main office of the company is located in Jl. Kh Samanhudi No.88, Jetis, Kec. Sukoharjo,
Kabupaten Sukoharjo, Jawa Tengah 57511. As of June 30th, 2018, the Company and its Subsidiary
had a total number of 18,820 employees.
August 2018
Disclaimer:

SRIL Sri Rejeki Isman Tbk.

Industry Sector : Miscellaneous Industry (4) Listed Shares : 20,452,176,844
Industry Sub Sector : Textile, Garment (43) Market Capitalization : 6,994,644,480,648
130 | 6.99T | 0.10% | 87.93%
26 | 19.0T | 0.95% | 56.88%

Established Date : 22-May-1978 1. PT Huddleston Indonesia 12,284,562,844 : 60.06%
Listing Date : 17-Jun-2013 2. Public (<5%) 8,167,614,000 : 39.94%
Underwriter IPO :
F/I
PT Adimitra Jasa Korpora Year Shares Dividend Cum Date Ex Date Date Date
2013 2.00 30-Jun-14 01-Jul-14 03-Jul-14 18-Jul-14 F
1. Susyana Lukminto 2015 3.00 25-May-16 26-May-16 30-May-16 17-Jun-16 F
2. Megawati 2016 3.00 26-May-17 29-May-17 31-May-17 21-Jun-17 F
3. Sudjarwadi *) 2017 8.00 25-May-18 28-May-18 31-May-18 21-Jun-18 F
ISSUED HISTORY
1. Iwan Setiawan No. Type of Listing Shares Date Date
2. Allan Moran Severino 1. First Issue 5,600,000,000 17-Jun-13 17-Jun-13
3. Arief Halim 2. Company Listing 12,992,888,040 17-Jun-13 17-Jun-13
4. Eddy Prasetyo Salim 3. Add. Listing without RI 1,859,288,804 06-Dec-17 06-Dec-17
5. Iwan Kurniawan Lukminto
6. Karunakaran Ramamoorthy
7. Nasir Tamara Tamimi
AUDIT COMMITTEE
1. Sudjarwadi
2. Ida Bagus Oka Nila
3. Yose Rizal
CORPORATE SECRETARY
Welly Salam
HEAD OFFICE
Jl. K.H. Samanhudi 88
Jetis, Sukoharjo
Jawa Tengah
Phone : (0271) 593-188
Fax : (0271) 593-488
Homepage : www.sritex.co.id
Email : cmo@sritex.co.id
welly.salam@sritex.co.id


TRADING ACTIVITIES
Sri Rejeki Isman Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
500 4,000 Jan-14 303 230 296 9,644 905,583 240,642 20
Feb-14 296 241 257 15,670 948,067 249,258 20
438 3,500 Mar-14 291 182 222 48,617 2,164,168 482,506 20
Apr-14 230 186 190 43,182 734,908 149,198 20
May-14 219 190 204 21,379 803,788 164,944 18
375 3,000
Jun-14 210 173 179 11,540 309,003 59,782 21
Jul-14 186 150 157 14,895 484,811 81,768 18
313 2,500
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
250 2,000
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
188 1,500 Dec-14 172 151 163 31,612 979,420 158,637 20
125 1,000 Jan-15 180 149 155 26,148 1,994,729 315,639 21

Feb-15 166 148 153 28,613 2,051,613 319,408 19
63 500 Mar-15 270 152 229 167,822 8,131,661 1,742,646 22
Apr-15 279 229 271 112,951 7,701,622 1,977,162 21
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
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
Sep-15 417 316 384 93,795 2,335,340 844,763 21
Miscellaneous Industry Index Nov-15 398 323 372 49,201 727,982 269,862 21
January 2014 - July 2018 Dec-15 395 350 389 78,428 1,176,910 450,095 19
125%
Jan-16 417 256 266 162,832 3,099,188 1,029,980 20
100% Feb-16 291 232 241 135,436 2,901,948 762,344 20
Mar-16 328 241 323 123,430 4,191,918 1,213,137 21
75% Apr-16 324 286 288 61,737 1,966,921 594,820 21
May-16 296 250 272 60,798 2,110,777 572,625 20
50% Jun-16 288 254 260 58,820 1,942,871 520,227 22
45.5% Jul-16 284 256 264 37,770 1,499,067 406,218 16
37.2%
Aug-16 302 252 256 66,852 3,068,648 849,865 22
25%
Sep-16 268 208 208 60,467 2,528,685 609,492 21
Oct-16 270 204 254 165,892 6,078,641 1,455,597 21
- 1.0%
Nov-16 282 230 240 125,704 3,673,716 940,595 22
Dec-16 246 220 230 53,556 1,250,881 290,292 20
-25%
Jan-17 262 224 232 104,866 2,905,948 701,102 21

-50% Feb-17 360 232 340 104,056 5,980,486 1,728,024 19
Mar-17 496 278 350 501,044 23,467,798 8,605,880 22
-75% Apr-17 354 298 302 131,573 4,209,125 1,331,816 17
Jun-17 338 296 320 100,034 4,592,333 1,462,586 15
Jul-17 378 316 338 186,500 6,024,654 2,091,937 21
Value (Billion Rp) 2,389 14,532 9,245 30,916 6,148 Oct-17 414 344 364 204,944 13,047,622 5,043,211 22
Frequency (Thou. X) 313 1,303 1,113 2,276 386 Nov-17 398 362 370 116,979 2,687,706 1,028,560 22
Days 242 244 246 238 138 Dec-17 396 350 380 173,401 4,666,342 1,736,419 18
Price (Rupiah) Jan-18 396 364 382 71,400 2,515,518 950,277 22

High 303 497 417 496 396 Feb-18 390 324 336 110,469 6,077,454 2,112,098 19
Low 120 148 204 224 302 Mar-18 360 322 334 53,903 2,810,071 957,489 21
Close 163 389 230 380 342 Apr-18 372 330 342 51,644 3,305,803 1,158,406 21
Close* 163 389 230 380 342 May-18 346 318 344 32,948 901,401 299,841 20
Jun-18 364 330 344 21,360 673,752 233,261 13
PER (X) 8.58 9.42 5.50 8.43 4.31 Jul-18 380 302 342 43,791 1,247,120 436,606 22
PER Industry (X) 14.44 0.95 13.86 4.78 21.61
PBV (X) 1.19 1.89 1.07 1.30 1.00


Public Accountant : Tanubrata Sutanto Fahmi Bambang & Partners (Member of BDO International Limited)
Cash & Cash Equivalents 1,014,831 1,130,591 812,707 1,723,740 1,301,513 18,750
Receivables 1,607,225 1,497,681 2,009,497 2,555,953 3,262,070

1,362,611 1,990,249 1,983,368 648,804 3,932,092 15,000
Inventories
Current Assets 4,005,530 4,736,230 5,079,147 8,739,147 9,202,729
11,250
Fixed Assets 4,011,821 6,461,933 6,977,375 7,406,799 9,458,068
Other Assets 51,636 - 358,485 - -
7,500
Total Assets 8,691,096 11,481,513 12,726,172 16,161,423 18,747,385
Growth (%) 32.11% 10.84% 26.99% 16.00% 3,750
Current Liabilities 751,756 984,296 1,659,721 2,373,446 2,766,886 -

Growth (%) 28.17% 11.48% 22.88% 15.47%
Paid up Capital 1,859,289 1,859,289 1,859,289 1,859,289 1,859,289 7,003
5,990
Par Value 100 100 100 100 100
5,575
4,449
Retained Earnings 945,521 1,792,408 2,386,770 102,269 4,116,617 4,056
Total Equity 2,897,795 4,056,195 4,448,787 5,990,368 7,003,269

4,146
2,898
Growth (%) 39.98% 9.68% 34.65% 16.91% 2,717
Total Revenues 6,897,287 9,116,561 9,135,667 10,287,672 7,832,327

Growth (%) 32.18% 0.21% 12.61%
-140
2014 2015 2016 2017 Jun-18
Cost of Revenues 5,374,885 7,161,091 7,182,731 7,967,296 6,421,329

Gross Profit 1,522,402 1,955,470 1,952,936 2,320,376 1,410,998
Expenses (Income) 348,920 517,779 401,716 325,859 -28,604
Growth (%) 22.52% 7.90% 28.58% 9,117 9,136

10,288
7,832
6,897
8,189
Other Income (Expenses) -353,213 -491,074 -664,070 -847,302 -536,143

Income before Tax 820,269 946,618 887,149 1,147,215 903,459 6,090
Tax 192,022 130,752 89,512 55,626 92,138

Profit for the period 628,210 815,866 797,637 1,091,590 811,321 3,992
Growth (%) 29.87% -2.23% 36.85%

1,893
Period Attributable 556,631 815,824 797,637 1,091,590 811,321 -206
Comprehensive Income 556,594 810,329 784,496 1,060,760 806,395 2014 2015 2016 2017 Jun-18
Comprehensive Attributable 556,631 810,281 784,496 1,060,760 806,395
Current Ratio (%) 532.82 481.18 306.02 368.20 332.60
1,092
Dividend (Rp) 5.38 3.00 3.00 8.00 - 1,092
EPS (Rp) 29.94 43.88 42.90 58.71 43.64

816 798 811
BV (Rp) 155.86 218.16 239.27 322.19 376.66 869
DAR (X) 0.67 0.65 0.65 0.63 0.63 628

DER(X) 2.00 1.83 1.86 1.70 1.68
646
ROA (%) 7.23 7.11 6.27 6.75 4.33 424
ROE (%) 21.68 20.11 17.93 18.22 11.58

GPM (%) 22.07 21.45 21.38 22.55 18.02 201
OPM (%) 17.01 15.77 16.98 19.39 18.38

NPM (%) 9.11 8.95 8.73 10.61 10.36
-22
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 17.97 6.84 6.99 13.63 -
Yield (%) 3.30 0.77 1.30 2.11 -

COMPANY REPORT
SSMS
SAWIT SUMBERMAS SARANA TBK.
Company Profile
PT Sawit Sumbermas Sarana Tbk. was established in Jakarta dated November 22, 1995. The Company
is a palm oil company based in Pangkalan Bun, Central Kalimantan, Indonesia. The Company manages
six palm oil mills (PKS) in Central Kalimantan, with a total production capacity of up to 205,700 tons of
crude palm oil (CPO) per annum. The Company envision themself as a world-class plantation company
with a mission to realize the full potential of palm oil, to build professional plantation business, to add
value for all stakeholders, to implement best practice of corporate governance and to use
envirotmentally friendly and advance technology.
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.
The Company has direct and indirect ownership interests in the consolidated subsidiaries, are as
follows:
 PT Kalimantan Sawit Abadi,
 PT Tanjung Sawit Abadi,
 PT Sawit Multi Utama,
 PT Mitra Mendawai Sejati,
 PT Mirza Pratama Putra,
 PT Menteng Kencana Mas,
 SSMS Plantation Holdings Pte. Ltd,
 SSMS Plantation International Pte. Ltd
The head office of PT Sawit Sumbermas Sarana Tbk is located in Jl. H. Udan Said No. 47 Pangkalan Bun,
Kalimantan Tengah, Indonesia. As of March 31st, 2018, the Company and its subsidiaries had 6,263
employees.
August 2018
Disclaimer:

SSMS Sawit Sumbermas Sarana Tbk.

Industry Sector : Agriculture (1) Listed Shares : 9,525,000,000
Industry Sub Sector : Plantation (12) Market Capitalization : 11,763,375,000,000
88 | 11.8T | 0.18% | 82.11%
28 | 18.1T | 0.91% | 58.72%

Established Date : 22-Nov-1995 1. PT Citra Borneo Indah 5,120,000,000 : 53.75%
Listing Date : 12-Dec-2013 2. PT Putra Borneo Agro Lestari 973,682,900 : 10.22%
Underwriter IPO : 3. PT Lamandau Sawit Sejahtera 578,205,315 : 6.07%
PT BNP Paribas Securities Indonesia 4. Public (<5%) 2,853,111,785 : 29.95%
PT Mandiri Sekuritas
PT RHB OSK Securities Indonesia DIVIDEND ANNOUNCEMENT
F/I
2014 22.65 24-Apr-15 27-Apr-15 29-Apr-15 21-May-15 F
1. Bungaran Saragih 2016 18.64 26-May-17 29-May-17 31-May-17 21-Jun-17 F
2. Marzuki Usman *) 2017 24.79 04-May-18 07-May-18 09-May-18 30-May-18 F
3. Rimbun Situmorang
*) Independent Commissioners ISSUED HISTORY
Listing Trading
BOARD OF DIRECTORS No. Type of Listing Shares Date Date
1. Vallauthan Subraminam 1. First Issue 1,500,000,000 12-Dec-13 12-Dec-13
2. Nasarudin Bin Nasir 2. Company Listing 8,025,000,000 12-Dec-13 12-Dec-13
3. Nicholas Justin Whittle
4. Ramzi Sastra
AUDIT COMMITTEE
1. Marzuki Usman
2. Wahyudi Susanto
3. Zulfitry Ramdan
CORPORATE SECRETARY
Swasti Kartikaningsih
HEAD OFFICE
Jl. H. Udan Said No. 47
Pangkalan Bun
Kalimantan Tengah 74113
Phone : (0532) 2297
Fax : (0532) 21396
Homepage : www.ssms.co.id
Email : corporate@ssms.co.id


TRADING ACTIVITIES
Sawit Sumbermas Sarana Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
2,400 3,200 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
2,100 2,800 Mar-14 1,105 970 1,035 151,752 2,801,526 2,882,007 20
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
1,800 2,400
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
1,500 2,000
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
1,200 1,600
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
900 1,200 Dec-14 1,700 1,430 1,665 73,625 953,444 1,460,547 20
600 800 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
300 400 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
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
Aug-15 1,980 1,560 1,615 57,854 1,261,217 2,300,148 20
Sep-15 1,735 1,520 1,615 113,300 1,334,266 2,185,068 21
Agriculture Index Nov-15 1,970 1,555 1,580 113,733 1,563,679 2,706,985 21
January 2014 - July 2018 Dec-15 2,050 1,555 1,950 101,789 1,696,965 2,861,298 19
180%
Jan-16 2,035 1,660 1,985 114,379 1,620,597 2,929,389 20
150% Feb-16 2,010 1,840 1,980 125,667 1,459,749 2,836,047 20
Mar-16 2,075 1,880 1,925 117,266 1,283,665 2,524,871 21
120% Apr-16 1,945 1,850 1,855 93,911 1,181,990 2,247,539 21
May-16 1,915 1,585 1,760 63,293 1,054,475 1,922,908 20
90% Jun-16 1,895 1,765 1,880 52,538 1,381,553 2,538,561 22
Jul-16 1,920 1,665 1,675 23,179 824,668 1,497,674 16
Aug-16 1,715 1,560 1,675 92,966 1,402,957 2,300,473 22
60%
Sep-16 1,735 1,545 1,555 63,437 850,400 1,397,735 21
40.3%
37.2%
Oct-16 1,585 1,440 1,520 63,513 1,320,217 2,006,126 21
30%
Nov-16 1,540 1,300 1,370 79,071 1,230,427 1,766,536 22
Dec-16 1,445 1,300 1,400 60,293 1,129,486 1,603,592 20
-
Jan-17 1,635 1,320 1,620 61,137 940,683 1,410,453 21

-30% -32.5% Feb-17 1,685 1,455 1,525 30,549 929,237 1,473,119 19
Mar-17 1,685 1,375 1,655 48,221 811,916 1,223,091 22
-60% Apr-17 1,750 1,625 1,750 40,103 561,794 950,080 17
Jun-17 1,795 1,540 1,680 19,830 395,744 648,519 15
Jul-17 1,695 1,465 1,465 36,382 764,532 1,194,062 21
Frequency (Thou. X) 1,452 1,137 950 498 271 Nov-17 1,545 1,395 1,495 35,340 542,249 805,545 22
Days 242 244 246 238 138 Dec-17 1,505 1,430 1,500 24,586 625,999 915,295 18
Price (Rupiah) Jan-18 1,515 1,400 1,490 46,070 791,597 1,148,193 22

High 1,700 2,425 2,075 1,795 1,515 Feb-18 1,500 1,415 1,445 26,568 826,721 1,188,415 19
Low 780 1,520 1,300 1,320 1,005 Mar-18 1,515 1,395 1,415 49,907 862,872 1,237,325 21
Close 1,665 1,950 1,400 1,500 1,235 Apr-18 1,455 1,285 1,310 68,583 834,282 1,178,368 21
Close* 1,665 1,950 1,400 1,500 1,235 May-18 1,340 1,005 1,195 47,957 1,737,718 2,017,732 20
Jun-18 1,320 1,180 1,270 10,379 515,809 650,953 13
PER (X) 25.60 33.11 44.72 18.15 14.39 Jul-18 1,335 1,200 1,235 21,594 867,476 1,110,511 22
PER Industry (X) 19.34 -6.37 19.38 2.40 4.13
PBV (X) 5.78 6.12 4.19 3.53 2.67


Cash & Cash Equivalents 157,297 521,783 162,461 2,200,759 2,303,398 11,250
Receivables 160,673 822,689 501,422 415,924 638,750

67,667 164,189 121,834 222,031 265,652 9,000
Inventories
Current Assets 2,300,594 1,732,968 1,796,842 4,724,577 5,789,032
6,750
Fixed Assets 596,197 2,298,868 1,749,108 1,937,014 4,417,983
Other Assets 241,486 48,678 1,414 48,108 26,717
4,500
Total Assets 4,032,885 6,973,851 7,162,970 9,623,673 10,682,618
Growth (%) 72.92% 2.71% 34.35% 11.00% 2,250
Current Liabilities 509,465 1,302,633 1,314,578 1,122,416 1,057,886 -

Long Term Liabilities 518,821 2,637,166 2,394,595 4,448,209 5,217,354 2014 2015 2016 2017 Mar-18
Growth (%) 283.14% -5.85% 50.19% 12.65%
Paid up Capital 952,500 952,500 952,500 952,500 952,500 4,407
4,053
Par Value 100 100 100 100 100 3,005 3,034
3,508

Total Equity 3,004,600 3,034,052 3,453,797 4,053,047 4,407,378
2,609
Growth (%) 0.98% 13.83% 17.35% 8.74% 1,710
INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Mar-18 811
Total Revenues 2,180,673 2,371,878 2,722,678 3,240,832 900,808

Growth (%) 8.77% 14.79% 19.03%
-88
2014 2015 2016 2017 Mar-18
Cost of Revenues 1,027,885 1,123,966 1,256,619 1,515,307 441,666

Gross Profit 1,152,788 1,247,912 1,466,059 1,725,525 459,142
Expenses (Income) 219,724 362,403 571,247 538,476 64,746
Operating Profit 933,065 885,509 894,811 1,187,049 394,396 3,241
Growth (%) -5.10% 1.05% 32.66% 2,723

2,372
2,181
2,580
Other Income (Expenses) 53,824 -110,060 -47,424 -93,351 -100,918

Income before Tax 986,889 775,449 847,388 1,093,698 293,478 1,919
Tax 249,059 188,305 255,729 302,775 87,851

Profit for the period 737,830 587,144 591,659 790,923 205,627 1,257
901
Growth (%) -20.42% 0.77% 33.68%
596
Period Attributable 719,097 -26,231 591,659 787,087 204,418 -65
Comprehensive Income 737,830 599,622 601,455 771,879 225,463 2014 2015 2016 2017 Mar-18
Comprehensive Attributable 719,097 -26,578 601,455 768,134 224,165
Current Ratio (%) 451.57 133.04 136.69 420.93 547.23
791
Dividend (Rp) 22.65 17.67 18.64 24.79 - 791 738
EPS (Rp) 75.50 -2.75 62.12 82.63 21.46

587 592
BV (Rp) 315.44 318.54 362.60 425.52 462.72 630
DAR (X) 0.25 0.56 0.52 0.58 0.59

DER(X) 0.34 1.30 1.07 1.37 1.42
468
ROA (%) 18.30 8.42 8.26 8.22 1.92

206
307
ROE (%) 24.56 19.35 17.13 19.51 4.67

GPM (%) 52.86 52.61 53.85 53.24 50.97 146
OPM (%) 42.79 37.33 32.87 36.63 43.78

NPM (%) 33.83 24.75 21.73 24.40 22.83
-16
2014 2015 2016 2017 Mar-18

Payout Ratio (%) 30.00 -641.50 30.01 30.00 -
Yield (%) 1.36 0.91 1.33 1.65 -

COMPANY REPORT
TLKM
TELEKOMUNIKASI INDONESIA
(PERSERO) TBK.
Company Profile
Telkom was established on Oktober 23, 1856 by The Dutch Company with The name “Post In
Telegraafdienst”. Telkom Group is transforming to become digital telecommunication company that
envisions to be “the King of Digital in The Region”, the king of telecommunication and digital services.
Telkom envisions “To be the King of Digital In the Region”, which means that as a digital telco, Telkom is
committed to provide various, customer experience-based, end-to-end digital solution services.
In order to serve customers better as well as to grow digital business, Telkom Group continues to invest
in digital infrastructure including access network, backbone network and data center. Telkom continues
to strengthen broadband connectivity services as its core business, develop digital mediation platform and
digital services. These are the three pillars for Telkom’s digital business growth in order to increase its
competitiveness and company value.
The Company 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, market or 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.
In the late 2017 the Company was awarded: Most Trusted Company Based on CGPI from IICG and SWA,
Testing Implementation Agency Telecommunication Tools and Devices In Best Country in Partner
Appreciation Field of SDPPI 2017 from the Ministry Communication and Informatics, and The Winner of
Indonesian Employers of Choice Award 2017 in Indonesian Employers of Choice Award 2017 from SWA.
The Company’s head office is located at Telkom Landmark Tower, 29th floor, Jl. Jend Gatot Subroto Kav
52 Jakarta 12710. As of June 30th, 2018, the Company and subsidiaries had 24.447 employees.
August 2018
Disclaimer:

TLKM Telekomunikasi Indonesia (Persero) Tbk.

Industry Sub Sector : Telecommunication (73) Market Capitalization : 359,855,987,148,000
4 | 359.9T | 5.38% | 26.15%
1 | 126.6T | 6.34% | 6.34%

Established Date : 24-Sep-1991 1. Republic of Indonesia 51,602,353,560 : 51.19%
Underwriter IPO :
PT Danareksa Sekuritas Bonus Cash Recording Payment
F/I
PT Makindo Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1995 24.48 07-Jun-96 10-Jun-96 18-Jun-96 17-Jul-96 F
PT Datindo Entrycom 1996 41.25 13-May-97 14-May-97 23-May-97 20-Jun-97 F
1997 32.75 22-May-98 25-May-98 02-Jun-98 01-Jul-98 F
BOARD OF COMMISSIONERS 1997 15.75 23-Nov-98 24-Nov-98 02-Dec-98 30-Dec-98 F
1. Hendri Saparini 1998 35.69 24-May-99 25-May-99 02-Jun-99 01-Jul-99 F
2. Cahyana Ahmadjayadi *) 1998 50 : 4 24-Jun-99 25-Jun-99 05-Jul-99 02-Aug-99 BS
3. Dolfie Othniel Fredric Palit *) 1998 15.30 24-May-99 25-May-99 02-Jun-99 30-Dec-99 F
4. Edwin Hidayat Abdullah 1999 53.88 26-Apr-00 27-Apr-00 05-May-00 22-May-00 F
5. Isa Rachmatarwata 1999 53.88 09-Oct-00 10-Oct-00 18-Oct-00 01-Nov-00 F
6. Margiyono Darsa Sumarja *) 2000 44.08 31-May-01 01-Jun-01 07-Jun-01 21-Jun-01 I
7. Pamijati Pamela Johanna *) 2000 44.08 10-Oct-01 11-Oct-01 17-Oct-01 31-Oct-01 F
8. Rinaldi Firmansyah 2001 210.82 24-Jul-02 25-Jul-02 30-Jul-02 12-Aug-02 F
2003 301.95 23-Aug-04 24-Aug-04 26-Aug-04 07-Sep-04 F
1. Alex Janangkih Sinaga 2004 144.90 15-Jul-05 18-Jul-05 20-Jul-05 03-Aug-05 F
2. Abdus Somad Arief 2005 218.86 21-Jul-06 24-Jul-06 26-Jul-06 09-Aug-06 F
3. David Bangun 2006 48.45 21-Dec-06 22-Dec-06 27-Dec-06 02-Jan-07 I
4. Dian Rachmawan 2006 254.76 20-Jul-07 23-Jul-07 25-Jul-07 08-Aug-07 F
5. Harry Mozarta Zen 2007 48.45 29-Nov-07 30-Nov-07 04-Dec-07 18-Dec-07 I
6. Herdy Rosadi Harman 2007 309.42 11-Jul-08 14-Jul-08 16-Jul-08 31-Jul-08 F
7. Siti Choiriana 2007 97.73 09-Oct-08 10-Oct-08 14-Oct-08 28-Oct-08 F
8. Zulhelfi Abidin 2008 296.94 07-Jul-09 08-Jul-09 10-Jul-09 27-Jul-09 F
2009 26.65 09-Dec-09 10-Dec-09 14-Dec-09 29-Dec-09 I
AUDIT COMMITTEE 2009 261.41 07-Jul-10 08-Jul-10 12-Jul-10 26-Jul-10 F
1. Margiyono Darsasumarja 2010 26.75 22-Dec-10 23-Dec-10 28-Dec-10 11-Jan-11 I
2. Cahyana Ahmadjayadi 2010 295.84 13-Jun-11 14-Jun-11 16-Jun-11 01-Jul-11 F
3. Dolfie Othniel Fredric Palit 2011 371.05 05-Jun-12 06-Jun-12 08-Jun-12 22-Jun-12 F
4. Rinaldi Firmansyah 2012 436.10 29-May-13 30-May-13 03-Jun-13 18-Jun-13 F
5. Sarimin Mietra Sardi 2013 102.40 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
6. Tjatur Purwadi 2015 94.64 29-Apr-16 02-May-16 04-May-16 26-May-16 F
2016 19.38 14-Dec-16 15-Dec-16 19-Dec-16 27-Dec-16 I
CORPORATE SECRETARY 2016 136.76 02-May-17 03-May-17 05-May-17 26-May-17 F
Andi Setiawan 2017 167.66 07-May-18 08-May-18 11-May-18 31-May-18 F
HEAD OFFICE ISSUED HISTORY

Telkom Landmark Tower, 39th Floor Listing Trading
Jl. Jendral Gatot Subroto Kav 52 No. Type of Listing Shares Date Date
Jakarta 12710 1. Negara RI (Series A) 1 14-Nov-95 -
Phone : (021) 521-5109 2. Negara RI (Series B) (C/ L) 7,466,665,999 14-Nov-95 -
Fax : (021) 522-0500 3. First Issue 933,333,000 14-Nov-95 14-Nov-95
Homepage : www.telkom.co.id 4. First Issue (LN) 700,000,000 14-Nov-95 14-Nov-95
Email : corporate_comm@telkom.co.id 5. First Issue (Divestment) 233,334,000 14-Nov-95 14-Nov-95
investor@telkom.co.id 6. Bonus Shares 746,666,640 03-Aug-99 03-Aug-99
andi.setiawan@telkom.co.id 7. Stock Split 10,079,999,640 28-Sep-04 28-Sep-04
8. Stock Split 86,247,402,484 28-Aug-13 28-Aug-13


TRADING ACTIVITIES
Telekomunikasi Indonesia (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
5,000 3,200 Jan-14 2,275 2,060 2,275 73,661 2,046,978 4,477,865 20
Feb-14 2,420 2,170 2,325 89,854 2,341,555 5,388,836 20
4,375 2,800 Mar-14 2,340 2,130 2,215 138,480 3,078,227 6,852,057 20
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
3,750 2,400
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
3,125 2,000
Aug-14 2,800 2,590 2,665 105,961 2,532,990 6,865,678 20
Sep-14 3,010 2,675 2,915 103,021 2,088,870 5,878,718 22
2,500 1,600
Oct-14 2,930 2,680 2,750 136,701 2,888,270 8,092,823 23
Nov-14 2,830 2,590 2,825 95,257 1,713,846 4,692,945 20
1,875 1,200 Dec-14 2,890 2,725 2,865 93,946 1,493,266 4,209,293 20
1,250 800 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
625 400 Mar-15 2,995 2,770 2,890 119,901 2,438,708 7,127,764 22
Apr-15 2,910 2,595 2,615 117,916 2,712,082 7,596,492 21
May-15 2,895 2,620 2,845 108,012 2,139,833 6,010,790 19
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
Aug-15 2,970 2,590 2,870 142,706 2,079,634 5,899,128 20
Sep-15 2,875 2,485 2,645 108,224 1,393,722 3,782,598 21
Infrastructure, Utilities and Transportation Index Nov-15 2,980 2,660 2,930 100,904 1,724,444 4,878,723 21
January 2014 - July 2018 Dec-15 3,170 2,900 3,105 113,512 2,208,650 6,693,917 19
140%
Jan-16 3,385 3,045 3,340 134,592 2,367,503 7,527,167 20
120% Feb-16 3,510 3,140 3,250 161,321 2,337,972 7,726,475 20
Mar-16 3,500 3,250 3,325 158,527 2,865,640 9,655,758 21
100% Apr-16 3,810 3,305 3,550 149,352 2,438,118 8,628,631 21
May-16 3,800 3,410 3,700 113,943 2,530,721 9,247,849 20
80% Jun-16 4,010 3,710 3,980 130,408 3,968,000 15,180,095 22
Jul-16 4,500 3,950 4,230 118,236 1,997,166 8,329,961 16
64.1% Aug-16 4,570 4,060 4,210 171,377 2,735,084 11,600,508 22
60%
Sep-16 4,400 3,950 4,310 146,869 2,597,603 10,854,249 21
Oct-16 4,400 4,120 4,220 94,353 1,877,248 7,938,634 21
40%
37.2% Nov-16 4,300 3,640 3,780 185,349 3,064,343 12,205,850 22
Dec-16 4,020 3,670 3,980 128,029 1,714,691 6,636,241 20
20%
9.9% Jan-17 4,030 3,780 3,870 104,153 1,570,645 6,187,403 21
- Feb-17 3,980 3,830 3,850 99,554 1,864,775 7,248,139 19
Mar-17 4,190 3,810 4,130 140,069 2,195,885 8,830,526 22
-20% Apr-17 4,520 4,010 4,370 96,536 1,932,288 8,208,882 17
Jun-17 4,540 4,290 4,520 90,159 2,173,809 9,495,629 15
Jul-17 4,790 4,500 4,690 134,755 1,903,450 8,824,948 21
SHARES TRADED 2014 2015 2016 2017 Jul-18 Aug-17 4,840 4,650 4,690 108,618 1,435,783 6,811,052 22
Volume (Million Sh.) 30,227 23,627 30,494 27,164 17,713 Sep-17 4,750 4,610 4,680 95,765 1,886,689 8,857,408 19
Frequency (Thou. X) 1,187 1,341 1,692 1,534 1,173 Nov-17 4,350 3,910 4,150 185,800 3,752,680 15,536,861 22
Days 242 244 246 238 138 Dec-17 4,460 4,110 4,440 106,753 1,630,535 6,887,364 18
Price (Rupiah) Jan-18 4,460 3,920 3,990 234,943 3,438,810 14,159,556 22

High 3,010 3,170 4,570 4,840 4,460 Feb-18 4,080 3,920 4,000 119,824 1,872,198 7,507,237 19
Low 2,060 2,485 3,045 3,780 3,250 Mar-18 4,200 3,520 3,600 170,488 2,998,081 11,568,636 21
Close 2,865 3,105 3,980 4,440 3,570 Apr-18 3,890 3,570 3,830 141,251 2,042,838 7,621,518 21
Close* 2,865 3,105 3,980 4,440 3,570 May-18 3,880 3,250 3,520 202,597 2,933,111 10,483,616 20
Jun-18 3,860 3,510 3,750 131,922 2,262,642 8,336,063 13
PER (X) 18.92 20.21 20.42 20.21 20.69 Jul-18 4,110 3,550 3,570 172,183 2,164,934 8,438,773 22
PER Industry (X) 20.04 9.49 8.16 16.02 12.90
PBV (X) 3.57 3.35 4.23 3.99 3.66


Receivables 6,848,000 7,872,000 7,900,000 9,564,000 15,445,000

474,000 528,000 584,000 631,000 876,000 170,000
Inventories
Current Assets 33,762,000 47,912,000 47,701,000 47,561,000 46,433,000
127,500
Fixed Assets 94,809,000 103,700,000 114,498,000 130,171,000 133,621,000
Other Assets - - - 12,270,000 20,424,000
85,000
Total Assets 140,895,000 166,173,000 179,611,000 198,484,000 201,960,000
Growth (%) 17.94% 8.09% 10.51% 1.75% 42,500

Growth (%) 32.82% 1.82% 16.59% 20.02%
Paid up Capital 5,040,000 5,040,000 5,040,000 5,040,000 5,040,000 105,544
98,317
112,130
93,428
Par Value 50 50 50 50 50
89,255

Total Equity 86,125,000 93,428,000 105,544,000 112,130,000 98,317,000
66,381
Growth (%) 8.48% 12.97% 6.24% -12.32% 43,506
Total Revenues 89,696,000 102,470,000 116,333,000 128,256,000 64,368,000

Growth (%) 14.24% 13.53% 10.25%
-2,243
2014 2015 2016 2017 Jun-18
Gross Profit 89,696,000 102,470,000 116,333,000 128,256,000 64,368,000
Expenses (Income) 60,319,000 70,052,000 77,138,000 84,323,000 46,268,000
116,333
Growth (%) 10.35% 20.91% 12.09%
128,256
102,470
102,092
89,696
Other Income (Expenses) -593,000 -1,076,000 -1,006,000 -1,274,000 -911,000
64,368
Tax 7,338,000 8,025,000 9,017,000 9,958,000 4,382,000
Growth (%) 8.72% 25.11% 12.10%

23,599
Current Ratio (%) 106.22 135.29 119.97 104.82 86.44
32,701
Dividend (Rp) - 94.64 156.14 167.66 - 32,701
29,172
EPS (Rp) 145.22 153.66 171.93 219.69 86.29
BV (Rp) 854.41 926.87 1,047.06 1,112.40 975.37 23,317
21,446
26,030
DAR (X) 0.39 0.44 0.41 0.44 0.51

DER(X) 0.64 0.78 0.70 0.77 1.05
19,359
12,807
ROA (%) 15.22 14.03 16.24 16.48 6.34 12,688
ROE (%) 24.90 24.96 27.64 29.16 13.03

GPM (%) 100.00 100.00 100.00 100.00 100.00 6,017
OPM (%) 32.75 31.64 33.69 34.25 28.12

NPM (%) 23.91 22.75 25.08 25.50 19.90
-654
2014 2015 2016 2017 Jun-18

Payout Ratio (%) - 61.59 90.82 76.32 -
Yield (%) - 3.05 3.92 3.78 -

COMPANY REPORT
TPIA
CHANDRA ASRI
PETROCHEMICAL TBK.
Company Profile
PT Chandra Asri Petrochemical Tbk. is a result of merger between PT Tri Polyta Indonesia Tbk (TPI)
and PT Chandra Asri (CA) on January 1st, 2011. TPI was the largest polypropylene producer in
Indonesia and was established in 1984. CA was the producer of olefins and polyethylene products
and was established in 1989.
The Company has 3 subsidiaries: PT Styrindo Mono Indonesia (SMI), PT Redeco Petrolin Utama (RPU),
PT Petrokimia Butadiene Indonesia (PBI). SMI engages in styrene monomer and until today it remains
the sole styrene monomer producer in Indoneisa. RPU engages in business segment of tank and jetty
rental and also handles refined petroleum product for local and international oil companies. PBI
operates the only butadiene plant in Indonesia that produces butadiene.
PT Chandra Asri Petrochemical Tbk has a purpose of becoming Indonesia’s leading and preferred
petrochemical company with an objective to continue growing and improving it’s leadership position
through integration, development of human capital and preferred partnership, in a sustainable
manner that will contribute to the growth of Indonesia.
In 2017 the company received awards: The Company and its subsidiary, PT Styrindo Mono Indonesia
(SMI) received respectively Level 5 Green Industry Award 2017, won a Silver Award for the
Manufacturing Company category at the “Operational Excellence Conference (OPEXCON) 2016” from
SSCX International, PT Styrindo Mono Indonesia (SMI), received TPM Excellence Award from Japan
Institute of Plant Maintenance, The Good Corporate Governance (GCG) Award in The 9th IICD
Corporate Governance Award 2017 for the Top 50 Biggest Market Capitalization Public Listed
Companies category from Indonesian Institute for Corporate Directorship (IICD), etc.
The Company is domiciled in Wisma Barito Pacific Tower A, 7th Floor

Jl. Let. Jend. S. Parman Kav. 62 – 63 Jakarta. Their CAP and PBI plants located in Jl. Raya Anyer Km.
123 Ciwandan, Cilegon Banten 42447, Indonesia. SMI Plant located in Desa Mangunreja Puloampel,
Serang Banten 42456. The total number of employees of the Company at March 31st, 2018 was 2,022.
August 2018
Disclaimer:

TPIA Chandra Asri Petrochemical Tbk.

Development Board Individual Index : 1,156.297
Industry Sub Sector : Chemicals (34) Market Capitalization : 89,167,601,300,000
13 | 89.2T | 1.33% | 50.60%
38 | 13.8T | 0.69% | 66.69%

Established Date : 02-Nov-1984 1. PT Barito Pacific Tbk. 7,401,917,600 : 41.51%
Listing Date : 24-Jun-1996 2. SCG Chemicals Company Limited 5,451,715,305 : 30.57%
Underwriter IPO : 3. Prajogo Pangestu 2,631,290,595 : 14.75%
PT Aseam Indonesia 4. Public (<5%) 2,348,596,760 : 13.17%
PT Merchant Investment Corporation
PT Bank Pembangunan Indonesia DIVIDEND ANNOUNCEMENT
F/I
2007 200.00 16-Jul-08 17-Jul-08 21-Jul-08 05-Aug-08 F
BOARD OF COMMISSIONERS 2009 150.00 04-Dec-09 07-Dec-09 09-Dec-09 28-Dec-09 I
1. Djoko Suyanto *) 2009 50.00 09-Apr-10 12-Apr-10 14-Apr-10 28-Apr-10 F
2. Agus Salim Pangestu 2010 65.00 11-Nov-10 12-Nov-10 16-Nov-10 01-Dec-10 I
3. Chaovalit Ekabut 2011 US$ 0.0016 14-Oct-11 17-Oct-11 19-Oct-11 02-Nov-11 I
4. Cholanat Yanaranop 2013 US$ 0.00079 23-Jun-14 24-Jun-14 26-Jun-14 11-Jul-14 F
5. Ho Hon Cheong *) 2015 US$ 0.00319 13-Jun-16 14-Jun-16 16-Jun-16 30-Jun-16 F
6. Loeki Sundjaja Putra 2016 US$ 0.01 02-Sep-16 05-Sep-16 07-Sep-16 15-Sep-16 I
7. Tan Ek Kia *) 2016 US$ 0.03562 09-May-17 10-May-17 15-May-17 23-May-17 F
*) Independent Commissioners 2017 US$ 0.01219 27-Oct-17 30-Oct-17 01-Nov-17 08-Nov-17 I
2017 40.61 30-Apr-18 02-May-18 04-May-18 22-May-18 F
BOARD OF DIRECTORS
1. Erwin Ciputra ISSUED HISTORY
2. Baritono Prajogo Pangestu Listing Trading
3. Fransiskus Ruly Aryawan No. Type of Listing Shares Date Date
4. Kulachet Dharachandra 1. Company Listing 728,401,000 26-May-08 26-May-08
5. Lim Chong Thian 2. Merger with PT Chandra Asri 2,337,795,416 03-Jan-11 03-Jan-11
6. Piboon Sirinantanakul 3. Right Issue 66,488,061 22-Nov-13 22-Nov-13
4. Right Issue 1,680 26-Nov-13 26-Nov-13
AUDIT COMMITTEE 5. Right Issue 154,276,401 29-Nov-13 29-Nov-13
1. Djoko Suyanto 6. Right Issue II 268,814,399 04-Sep-17 04-Sep-17
2. Ahmadi Hadibroto 7. Right Issue II 409,104 05-Sep-17 05-Sep-17
3. Reynold M. Batubara 8. Right Issue II 2,148,826 06-Sep-17 06-Sep-17
9. Right Issue II 1,215,129 07-Sep-17 07-Sep-17
CORPORATE SECRETARY 10. Right Issue II 7,154,036 11-Sep-17 11-Sep-17
Suryandi 11. Stock Split 14,266,816,208 21-Nov-17 21-Nov-17
HEAD OFFICE
Wisma Barito Pacific Tower. A, 7th Floor
Jl. Let. Jend. S. Parman Kav. 62-63
Jakarta 11410
Phone : (021) 530-7950
Fax : (021) 530-8930
Homepage : www.chandra-asri.com
Email : investor-relations@capcx.com
suryandi@capcx.com


TRADING ACTIVITIES
Chandra Asri Petrochemical Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
6,800 240 Jan-14 3,000 2,700 2,900 402 600 1,739 20
Feb-14 2,900 2,450 2,535 518 576 1,372 20
5,950 210 Mar-14 2,600 2,240 2,340 550 644 1,518 20
Apr-14 2,510 2,250 2,500 975 2,199 5,418 20
May-14 2,700 2,450 2,640 465 2,721 6,952 18
5,100 180
Jun-14 2,650 2,520 2,610 763 4,205 11,062 21
Jul-14 2,750 2,610 2,700 818 9,416 24,841 15
4,250 150
Aug-14 3,250 2,650 3,245 57 393 1,179 11
Sep-14 3,250 3,000 3,200 60 122 389 12
3,400 120
Oct-14 3,250 3,200 3,200 6 15 49 3
Nov-14 3,100 2,955 3,000 36 385 1,155 10
2,550 90 Dec-14 3,090 2,900 3,000 67 14,453 53,610 20
1,700 60 Jan-15 3,100 3,000 3,000 35 668 2,011 14

Feb-15 3,035 2,925 3,030 20 211 631 10
850 30 Mar-15 3,000 2,900 3,000 19 308 913 8
Apr-15 3,150 2,950 3,150 46 597 1,806 11
May-15 4,050 3,000 3,510 130 842 2,837 16
Jun-15 3,500 3,350 3,350 39 258 897 8
Jul-15 3,500 3,250 3,500 8 8 27 5
Aug-15 3,500 3,000 3,490 58 267 856 10
Sep-15 3,700 3,165 3,625 35 22 77 8
Closing Price*, Jakarta Composite Index (IHSG) and Oct-15 3,700 3,425 3,425 36 149 537 14
Basic Industry and Chemicals Index Nov-15 3,400 3,350 3,400 16 8 26 6
January 2014 - July 2018 Dec-15 3,445 3,445 3,445 1 0.2 0.7 1
1,120%
Jan-16 3,500 3,400 3,500 15 11 39 5
960% Feb-16 3,650 3,450 3,500 22 14 50 7
Mar-16 3,600 3,400 3,550 77 530 1,854 9
800% Apr-16 4,700 3,500 4,700 30 33 138 6
785.8%
May-16 5,000 4,500 4,500 40 24 114 11
640% Jun-16 5,400 4,420 4,600 28 30 137 7
Jul-16 6,200 4,600 6,100 175 160 904 12
Aug-16 10,950 5,925 10,900 4,048 9,733 89,790 21
480%
Sep-16 13,925 10,675 13,800 11,081 31,742 409,001 21
Oct-16 18,525 13,800 17,850 19,164 37,008 599,413 21
320%
Nov-16 20,075 17,675 19,975 27,434 38,178 731,310 22
Dec-16 20,675 19,900 20,650 20,239 31,985 648,343 20
160%
61.3% Jan-17 22,175 20,600 22,175 25,049 41,136 877,554 21
- 37.2%
Feb-17 23,800 22,175 23,575 19,058 40,821 948,946 19
Mar-17 24,025 23,425 23,975 24,005 104,099 2,448,316 22
-160% Apr-17 28,000 23,950 26,525 15,491 54,602 1,430,783 17
Jun-17 26,425 23,775 26,075 16,058 44,666 1,117,205 15
Jul-17 27,225 26,025 27,100 17,345 55,440 1,471,963 21
Volume (Million Sh.) 36 3 149 1,238 727 Sep-17 24,100 20,700 23,825 19,832 50,836 1,126,309 19
Frequency (Thou. X) 5 0.4 82 259 164 Nov-17 29,250 5,450 5,475 29,572 99,931 1,238,522 22
Days 190 111 162 238 138 Dec-17 6,000 5,325 6,000 27,284 198,518 1,117,381 18
Price (Rupiah) Jan-18 6,575 5,325 6,525 36,497 201,131 1,183,987 22

High 3,250 4,050 20,675 29,250 6,675 Feb-18 6,675 5,675 6,150 26,378 102,510 635,608 19
Low 2,240 2,900 3,400 5,325 4,820 Mar-18 6,275 5,500 6,225 26,831 114,486 674,534 21
Close 3,000 3,445 20,650 6,000 5,000 Apr-18 6,425 5,975 6,050 22,743 93,886 581,901 21
Close* 589 676 4,054 6,000 5,000 May-18 6,425 5,550 5,850 21,680 106,864 644,087 20
Jun-18 5,875 5,075 5,600 14,001 50,042 273,124 13
PER (X) 46.46 31.17 18,077.10 24.89 22.08 Jul-18 5,600 4,820 5,000 16,162 57,900 299,682 22
PER Industry (X) 16.60 4.10 20.86 13.10 13.08
PBV (X) 0.93 0.93 4,935.45 4.75 3.72


Receivables 1,347,167 736,939 1,865,266 2,802,390 3,277,807

2,715,861 2,614,809 2,680,589 3,215,604 3,177,058 33,000
Inventories
Current Assets 8,287,773 6,106,605 9,304,779 19,359,902 18,777,710
24,750
Fixed Assets 14,223,737 19,172,060 17,691,772 19,612,965 20,825,965
Other Assets 66,209 35,675 34,262 32,447 1,514
16,500
Total Assets 23,920,770 27,296,992 28,608,858 40,471,995 40,821,439
Growth (%) 14.11% 4.81% 41.47% 0.86% 8,250

Growth (%) 9.06% 35.46% -7.77% -5.68%
Paid up Capital 3,286,963 3,286,963 3,286,963 3,566,704 4,224,097 22,609

Par Value 1,000 1,000 1,000 200 200
19,083
Retained Earnings 4,904,522 6,046,350 7,613,514 11,206,702 12,388,461 12,999 13,753

Total Equity 10,809,968 12,998,502 13,752,703 22,609,200 23,973,462 10,810
14,192
Growth (%) 20.25% 5.80% 64.40% 6.03% 9,302
Total Revenues 30,593,194 20,191,087 26,152,192 32,765,960 9,564,230

Growth (%) -34.00% 29.52% 25.29%
-479
2014 2015 2016 2017 Mar-18
Cost of Revenues 29,132,412 18,055,138 19,294,338 25,382,246 7,625,735

Gross Profit 1,460,782 2,135,950 6,857,854 7,383,714 1,938,496
Expenses (Income) 1,150,977 1,316,638 1,476,024 1,631,206 542,922
30,593
Growth (%)
32,766
26,152
26,082

Income before Tax 309,806 819,312 5,381,830 5,752,508 1,395,574 19,397
Tax 82,898 434,477 1,349,351 1,428,610 383,077

Profit for the period 226,907 384,834 4,032,480 4,323,898 1,012,497 12,713
9,564
Growth (%) 69.60% 947.85% 7.23%

6,029
Period Attributable 2,251,550 386,021 4,031,015 4,316,718 1,010 -655
Comprehensive Income 226,099 380,027 4,010,646 4,303,062 1,017,146 2014 2015 2016 2017 Mar-18
Comprehensive Attributable 224,072 385,714 4,008,335 4,296,003 1,014,024
Current Ratio (%) 139.45 110.29 152.56 243.37 277.60
4,324
Dividend (Rp) - - - 40.61 - 4,324 4,032
EPS (Rp) 684.99 117.44 1,226.36 242.06 0.05
BV (Rp) 3,288.74 3,954.56 4,184.02 1,267.79 1,135.08 3,442
DAR (X) 0.55 0.52 0.68 0.44 0.41

DER(X) 1.21 1.10 1.41 0.79 0.70
2,560
ROA (%) 0.95 1.41 14.10 10.68 2.48 1,678
ROE (%) 2.10 2.96 29.32 19.12 4.22 1,012
GPM (%) 4.77 10.58 26.22 22.53 20.27 385

227
796
OPM (%) - - - - -
NPM (%) 0.74 1.91 15.42 13.20 10.59
-86
2014 2015 2016 2017 Mar-18

Payout Ratio (%) - - - 16.78 -
Yield (%) - - - 0.68 -

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 Company becomes a major player in its respective sectors and industries in the country through
five business pillars, i,e, Construction Machinery, Mining Contracting, Mining, Construction Industry
and Energy. Construction Machinery pillar offers sales of heavy equipment and transportation
vehicles as well as their spare parts, attachments and related services. Available products are from
various trusted brands, which are Komatsu, UD Trucks, Scania, Tadano and Bomag.
The Company head office is located at Jl. Raya Bekasi KM.22 Cakung, Jakarta 13910 Indonesia, and
there are several supporting offices located in various strategic provinces and cities around the
country. Currently the Company operates 212 points of services, which include a vast network of 20
branches, 22 site supports, 10 representative offices, 17 mine offices and other service points. And
there are 55 subsidiaries
As of June 30th, 2018, the Group had approximately 31,391 employees.
August 2018
Disclaimer:

UNTR United Tractors Tbk.

Industry Sub Sector : Wholesale (Durable & Non-Durable Goods) (91) Market Capitalization : 131,487,263,544,000
10 | 131.5T | 1.97% | 46.18%
10 | 37.5T | 1.88% | 35.62%

Established Date : 19-Oct-1972 1. PT Astra International Tbk. 2,219,317,358 : 59.50%
Listing Date : 19-Sep-1989 2. Public (<5%) 1,510,817,778 : 40.50%
Underwriter IPO :
PT Aseam Indonesia DIVIDEND ANNOUNCEMENT
PT (Persero) Danareksa Bonus Cash Recording Payment
F/I
PT Finconesia Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1995 85.00 20-Jun-96 21-Jun-96 01-Jul-96 31-Jul-96 F
PT Raya Saham Registra 1996 60.00 21-Nov-96 22-Nov-96 02-Dec-96 27-Dec-96 I
1996 100.00 26-Jun-97 27-Jun-97 07-Jul-97 28-Jul-97 F
BOARD OF COMMISSIONERS 1999 5:9 08-Jun-00 09-Jun-00 14-Jun-00 23-Jun-00 BS
1. Prijono Sugiarto 2004 20.00 30-Nov-04 01-Dec-04 03-Dec-04 17-Dec-04 I
2. Buntoro Muljono *) 2004 35.00 23-Jun-05 22-Jun-05 27-Jun-05 11-Jul-05 F
3. Chiew Sin Cheok 2005 110.00 12-Jun-06 13-Jun-06 15-Jun-06 29-Jun-06 F
4. Djoko Pranoto Santoso 2006 45.00 13-Oct-06 16-Oct-06 18-Oct-06 03-Nov-06 I
5. Djony Bunarto Tjondro 2006 85.00 20-Jun-07 21-Jun-07 25-Jun-07 08-Jul-07 F
6. Nanan Soekarna *) 2007 60.00 10-Oct-07 11-Oct-07 18-Oct-07 01-Nov-07 I
2008 100.00 23-Oct-08 24-Oct-08 28-Oct-08 11-Nov-08 I
BOARD OF DIRECTORS 2008 220.00 11-Jun-09 12-Jun-09 16-Jun-09 26-Jun-09 F
1. Gidion Hasan 2009 330.00 14-Jun-10 15-Jun-10 17-Jun-10 01-Jul-10 F
2. Edhie Sarwono 2010 160.00 27-Oct-10 28-Oct-10 01-Nov-10 12-Nov-10 I
3. Franciscus Xaverius Laksana Kesuma 2010 430.00 31-May-11 01-Jun-11 06-Jun-11 13-Jun-11 F
4. Idot Supriadi 2011 185.00 27-Oct-11 28-Oct-11 01-Nov-11 11-Nov-11 I
5. Iman Nurwahyu 2011 635.00 11-May-12 14-May-12 16-May-12 30-May-12 F
6. Iwan Hadiantoro 2012 210.00 16-Oct-12 17-Oct-12 19-Oct-12 02-Nov-12 I
7. Loudy Irwanto Ellias 2012 620.00 14-May-13 15-May-13 17-May-13 31-May-13 F
2013 175.00 02-Oct-13 03-Oct-13 07-Oct-13 23-Oct-13 I
AUDIT COMMITTEE 2013 515.00 14-May-14 16-May-14 20-May-14 05-Jun-14 F
1. Buntoro Muljono 2014 195.00 09-Oct-14 10-Oct-14 14-Oct-14 28-Oct-14 I
2. Handy Effendy Halim 2014 740.00 28-Apr-15 29-Apr-15 04-May-15 22-May-15 F
3. Lianny Leo 2015 251.00 28-Sep-15 29-Sep-15 01-Oct-15 16-Oct-15 I
2015 440.00 02-May-16 03-May-16 09-May-16 23-May-16 F
CORPORATE SECRETARY 2016 143.00 28-Sep-16 29-Sep-16 03-Oct-16 17-Oct-16 I
Sara K. Loebis 2017 282.00 05-Oct-17 06-Oct-17 10-Oct-17 23-Oct-17 I
2017 410.00 29-Nov-17 30-Nov-17 05-Dec-17 20-Dec-17 I
HEAD OFFICE 2017 611.00 23-Apr-18 24-Apr-18 26-Apr-18 15-May-18 F
Jl. Raya Bekasi Km. 22, Cakung
Jakarta - 13910 ISSUED HISTORY
Phone : (021) 2457-9999 Listing Trading
Fax : (021) 460-0655; 460-0677; 460-0657 No. Type of Listing Shares Date Date
Homepage : www.unitedtractors.com 1. First Issue 2,700,000 19-Sep-89 19-Sep-89
Email : sarakl@unitedtractors.com 2. Partial Listing 8,436,000 T: 26-Dec-89 : 27-Feb-91
ir@unitedtractors.com 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. Closing Price Freq. Volume Value
Day
Closing Volume
42,000 40.0 Jan-14 21,200 18,500 19,300 45,472 60,972 1,184,893 20
Feb-14 19,300 17,725 18,975 52,632 90,170 1,659,792 20
36,750 35.0 Mar-14 20,950 18,600 20,750 47,174 79,381 1,582,790 20
Apr-14 22,100 19,850 21,700 49,419 83,360 1,769,643 20
May-14 22,500 20,750 21,675 45,767 62,208 1,366,231 18
31,500 30.0
Jun-14 23,200 21,700 23,100 38,741 50,682 1,149,000 21
Jul-14 25,350 22,250 22,900 46,771 55,653 1,307,864 18
26,250 25.0
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
21,000 20.0
Oct-14 20,575 16,700 18,375 83,741 156,783 2,831,116 23
Nov-14 19,350 17,700 18,325 70,373 113,167 2,106,631 20
15,750 15.0 Dec-14 18,275 16,425 17,350 57,332 87,212 1,551,160 20
10,500 10.0 Jan-15 18,275 16,850 17,900 52,951 63,591 1,113,496 21

Feb-15 21,025 17,525 20,750 50,302 82,703 1,569,832 19
5,250 5.0 Mar-15 22,350 20,300 21,800 71,498 93,856 2,010,940 22
Apr-15 23,400 20,475 21,400 53,700 82,243 1,859,237 21
May-15 24,000 20,300 20,300 62,249 66,582 1,499,440 19
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
Aug-15 20,750 16,050 19,125 65,365 50,710 942,170 20
Sep-15 20,700 15,225 17,475 71,271 55,235 995,809 21
January 2014 - July 2018 Dec-15 17,025 13,925 16,950 80,623 86,646 1,348,310 19
120%
Jan-16 17,450 15,625 17,400 72,205 79,869 1,311,592 20
100% Feb-16 17,475 14,475 15,525 66,700 66,192 1,058,219 20
Mar-16 15,725 14,825 15,300 76,498 104,001 1,593,464 21
80% 82.2% Apr-16 17,100 14,600 15,000 58,588 101,144 1,587,539 21
May-16 15,050 12,550 14,200 63,119 86,177 1,182,212 20
60% Jun-16 15,200 13,375 14,800 60,247 95,185 1,377,860 22
Jul-16 16,350 14,600 15,750 59,316 123,776 1,942,498 16
Aug-16 18,950 15,900 18,750 69,945 163,358 2,861,361 22
40%
37.2% Sep-16 19,250 16,525 17,700 62,436 155,946 2,798,517 21
Oct-16 21,675 17,850 21,625 70,847 196,529 3,897,306 21
20%
Nov-16 23,975 20,500 21,000 104,418 151,553 3,344,550 22
10.0% Dec-16 23,950 19,200 21,250 82,313 110,733 2,393,569 20
-
Jan-17 22,975 20,575 21,850 54,239 75,436 1,652,241 21

-20% Feb-17 25,525 22,075 24,650 51,491 95,386 2,256,137 19
Mar-17 28,200 23,750 26,500 85,633 125,481 3,290,455 22
-40% Apr-17 29,450 26,150 26,900 65,561 83,780 2,336,730 17
Jun-17 27,700 25,975 27,450 60,503 67,567 1,815,994 15
Jul-17 30,200 26,175 30,100 66,277 77,837 2,207,645 21
Volume (Million Sh.) 1,005 879 1,434 1,100 684 Sep-17 32,400 29,500 32,000 59,792 56,945 1,763,888 19
Days 242 244 246 238 138 Dec-17 35,400 31,700 35,400 74,123 71,798 2,342,021 18
Price (Rupiah) Jan-18 40,500 32,800 38,900 97,895 90,952 3,393,319 22

High 25,350 24,000 23,975 37,250 40,500 Feb-18 39,700 34,850 35,600 84,784 92,990 3,473,470 19
Low 16,425 13,925 12,550 20,575 31,000 Mar-18 37,000 31,050 32,000 115,430 134,212 4,514,150 21
Close 17,350 16,950 21,250 35,400 35,250 Apr-18 38,200 31,850 34,100 92,237 109,111 3,788,446 21
Close* 17,350 16,950 21,250 35,400 35,250 May-18 38,200 31,650 35,050 111,936 111,224 3,875,816 20
Jun-18 36,500 31,000 31,600 70,929 63,037 2,127,716 13
PER (X) 10.17 16.41 19.01 17.84 12.00 Jul-18 36,075 31,150 35,250 95,281 82,027 2,748,140 22
PER Industry (X) 22.13 14.53 19.07 17.44 3.45
PBV (X) 1.68 1.61 1.97 2.78 2.55


Receivables 13,586,675 12,169,624 12,114,511 18,187,643 21,669,629

7,770,086 8,328,331 7,108,044 7,854,913 9,669,841 80,000
Inventories
Current Assets 33,579,799 39,259,708 42,197,323 51,202,200 53,343,702
60,000
Fixed Assets 13,625,012 12,659,736 12,072,399 16,374,852 19,325,322
40,000
Total Assets 60,292,031 61,715,399 63,991,229 82,262,093 88,842,723
Growth (%) 2.36% 3.69% 28.55% 8.00% 20,000

Growth (%) 3.45% -4.88% 62.50% 7.07%
Paid up Capital 932,534 932,534 932,534 932,534 932,534 47,538
38,577 39,250
Par Value 250 250 250 250 250
41,125

Total Equity 38,576,734 39,250,325 42,621,943 47,537,925 51,664,797
30,586
Growth (%) 1.75% 8.59% 11.53% 8.68% 20,046
Total Revenues 53,141,768 49,347,479 45,539,238 64,559,204 38,944,238

Growth (%) -7.14% -7.72% 41.77%
-1,033
2014 2015 2016 2017 Jun-18
Cost of Revenues 41,071,359 37,645,186 35,878,274 50,075,332 29,683,110

Gross Profit 12,070,409 11,702,293 9,660,964 14,483,872 9,261,128
Expenses (Income) 5,448,551 7,509,547 2,930,934 3,961,215 1,582,664
Growth (%) 53,142

49,347
51,389
45,539
Tax 1,781,888 1,400,307 1,625,553 2,849,335 1,934,392

Growth (%) -42.30% 82.80% 50.33%

11,879
Current Ratio (%) 206.04 214.77 229.88 180.44 176.41
7,673
Dividend (Rp) 935.00 691.00 143.00 1,303.00 - 7,673
EPS (Rp) 1,439.52 1,033.07 1,341.03 1,984.64 1,468.88

5,744
BV (Rp) 10,341.91 10,522.49 11,426.38 12,744.29 13,850.65 6,108
5,104
4,840
DAR (X) 0.36 0.36 0.33 0.42 0.42
DER(X) 0.56 0.57 0.50 0.73 0.72
4,543
ROA (%) 8.03 4.52 7.98 9.33 6.47 2,792

2,977
ROE (%) 12.55 7.11 11.98 16.14 11.12

GPM (%) 22.71 23.71 21.21 22.44 23.78 1,412
OPM (%) - - - - -
NPM (%) 9.11 5.66 11.21 11.89 14.75
-153
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 64.95 66.89 10.66 65.65 -
Yield (%) 5.39 4.08 0.67 3.68 -

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 for the Fast Moving Consumer Goods Catagory 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: pepsodent, Lux,
Lifebuoy, Dove, Sunsilk, Clear, Rexona, Vaseline, Rinso, Molto, Sunlight, Walls, Blue Band, Royco, Bango,
etc.
The purpose of the Company is to achieve the Love and appreciation from Indonesian people by
Touching the life of everyday people in Indonesia, and the objective’s of the Company is to create a
better future every day, to help costumer feel good, look good and enjoy live through good brand and
service, to inspire people to take small steps everyday that when combined can bring great changes to
the world, to constantly developing new ways of doing business that enable us to grow while reducing
our impact in the envirotment.
The Company’s majority shareholder as at 31 December 2017 is Unilever Indonesia Holding B.V. ("UIH"),
while its ultimate parent entity is Unilever N.V., Netherlands.
The Company’s had Office is located St Grha Unilever, Green Office Park Kav.3 Jl. BSD Boulevard Barat,
BSD City, Tanggerang 15345. As at June 30th, 2018 the Company had 5,922 employees.
August 2018
Disclaimer:

UNVR Unilever Indonesia Tbk.

Industry Sub Sector : Cosmetics And Household (54) Market Capitalization : 329,997,500,000,000
5 | 330.0T | 4.93% | 31.09%
16 | 28.1T | 1.41% | 45.26%

Established Date : 16-Apr-1905 1. Unilever Indonesia Holding BV 6,484,877,500 : 84.99%
Listing Date : 11-Jan-1982 2. Public (<5%) 1,145,122,500 : 15.01%
Underwriter IPO :
PT Aseam Indonesia DIVIDEND ANNOUNCEMENT
PT Inter-Pacific Securities Bonus Cash Recording Payment
F/I
PT Aseam Indonesia Year Shares Dividend Cum Date Ex Date Date Date
PT Danareksa Sekuritas 2000 200.00 28-Nov-00 29-Nov-00 04-Dec-00 18-Dec-00 I
PT Merchant Investment Corporation 2000 490.00 12-Jul-01 13-Jul-01 18-Jul-01 01-Aug-01 F
PT Merincorp S.I. 2001 250.00 19-Nov-01 20-Nov-01 23-Nov-01 07-Dec-01 I
PT Danareksa 2001 250.00 28-Jan-02 29-Jan-02 01-Feb-02 18-Feb-02 I
PT Sharestar Indonesia 2001 300.00 05-Nov-02 06-Nov-02 08-Nov-02 22-Nov-02 I
2002 400.00 11-Feb-03 13-Feb-03 17-Feb-03 04-Mar-03 I
1. Maurits Daniel Rudolf Lalisang 2003 50.00 17-Feb-04 18-Feb-04 20-Feb-04 05-Mar-04 I
2. Alexander Steven Rusli *) 2003 80.00 15-Jul-04 16-Jul-04 20-Jul-04 03-Aug-04 F
3. Erry Firmansyah *) 2004 70.00 02-Dec-04 03-Dec-04 06-Dec-04 17-Dec-04 I
4. Hikmahanto Juwana *) 2004 60.00 04-Mar-05 07-Mar-05 09-Mar-05 24-Mar-05 I
5. Mahendra Siregar *) 2004 80.00 08-Jul-05 11-Jul-05 13-Jul-05 27-Jul-05 F
*) Independent Commissioners 2005 60.00 05-Dec-05 06-Dec-05 08-Dec-05 21-Dec-05 I
2005 120.00 22-Jun-06 23-Jun-06 27-Jun-06 11-Jul-06 F
BOARD OF DIRECTORS 2006 80.00 29-Nov-06 30-Nov-06 04-Dec-06 18-Dec-06 I
1. Hemant Bakshi 2006 125.00 22-Jun-07 25-Jun-07 27-Jun-07 11-Jul-07 F
2. Amparo Cheung Aswin 2007 90.00 28-Nov-07 29-Nov-07 03-Dec-07 14-Dec-07 I
3. Enny Hartati 2007 167.00 26-Jun-08 27-Jun-08 01-Jul-08 11-Jul-08 F
4. Hernie Raharja 2008 95.00 26-Nov-08 27-Nov-08 01-Dec-08 15-Dec-08 I
5. Ira Noviarti 2008 220.00 26-Jun-09 29-Jun-06 01-Jul-09 14-Jul-09 F
6. Jochanan Senf 2009 100.00 25-Nov-09 26-Nov-09 01-Dec-09 15-Dec-09 I
7. Sancoyo Antarikso 2009 299.00 28-Jun-10 29-Jun-10 01-Jul-10 13-Jul-10 F
8. Tevilyan Yudhistira Rusli 2010 100.00 26-Nov-10 29-Nov-10 01-Dec-10 15-Dec-10 I
9. Vikas Gupta 2010 344.00 27-Jun-11 28-Jun-11 01-Jul-11 13-Jul-11 F
10. Willy Saelan 2011 250.00 06-Dec-11 07-Dec-11 09-Dec-11 15-Dec-11 I
2011 296.00 27-Jun-12 28-Jun-12 02-Jul-12 13-Jul-12 F
AUDIT COMMITTEE 2012 300.00 10-Dec-12 11-Dec-12 13-Dec-12 20-Dec-12 I
1. Erry Firmansyah 2012 334.00 28-Jun-13 01-Jul-13 03-Jul-13 16-Jul-13 F
2. Dwi Martani 2013 330.00 02-Dec-13 03-Dec-13 05-Dec-13 12-Dec-13 I
3. Haryanto Sahari 2013 371.00 26-Jun-14 27-Jun-14 01-Jul-14 15-Jul-14 F
2014 336.00 02-Dec-14 03-Dec-14 05-Dec-14 12-Dec-14 I
CORPORATE SECRETARY 2015 342.00 01-Dec-15 02-Dec-15 04-Dec-15 17-Dec-15 I
Sancoyo Antarikso 2015 424.00 21-Jun-16 22-Jun-16 24-Jun-16 15-Jul-16 F
2016 375.00 05-Dec-16 06-Dec-16 08-Dec-16 22-Dec-16 I
HEAD OFFICE 2016 460.00 05-Jul-17 06-Jul-17 10-Jul-17 20-Jul-17 F
Green Office Park Kav.3 2017 410.00 29-Nov-17 30-Nov-17 05-Dec-17 20-Dec-17 I
Jl. BSD Boulevard Barat, BSD City 2017 505.00 31-May-18 04-Jun-18 06-Jun-18 22-Jun-18 F
Tangerang 15345
Phone : (021) 8082-7000 ISSUED HISTORY
Fax : (021) 8082-7002 Listing Trading
Homepage : www.unilever.co.id No. Type of Listing Shares Date Date
Email : unvr.indonesia@unilever.com 1. First Issue 9,200,000 11-Jan-82 11-Jan-82
2. Bonus Shares 1,533,334 15-Dec-89 15-Dec-89
3. Bonus Shares 717,891 22-Sep-93 22-Sep-93
4. Company Listing 64,848,775 02-Jan-98 02-Jan-98
5. Stock Split 686,700,000 06-Nov-00 06-Nov-00
6. Stock Split 6,867,000,000 03-Sep-03 03-Sep-03


TRADING ACTIVITIES
Unilever Indonesia Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
56,000 8.00 Jan-14 28,775 25,800 28,550 44,445 49,313 1,352,166 20
Feb-14 28,650 27,525 28,575 35,716 35,118 990,814 20
49,000 7.00 Mar-14 31,350 27,525 29,250 47,590 47,568 1,377,944 20
Apr-14 30,975 28,500 29,250 46,776 36,990 1,102,426 20
May-14 30,850 28,800 29,125 31,684 34,883 1,051,523 18
42,000 6.00
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
35,000 5.00
Aug-14 32,100 29,500 31,025 32,144 24,671 774,229 20
Sep-14 32,100 31,025 31,800 29,938 22,402 708,602 22
28,000 4.00
Oct-14 32,200 29,625 30,400 45,092 42,228 1,308,739 23
Nov-14 32,000 29,700 31,800 30,080 28,440 877,909 20
21,000 3.00 Dec-14 32,300 30,525 32,300 33,887 33,894 1,063,175 20
14,000 2.00 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
7,000 1.00 Mar-15 40,500 35,750 39,650 50,052 51,654 1,975,029 22
Apr-15 44,500 37,675 42,600 63,276 53,485 2,155,514 21
May-15 46,000 42,150 43,300 46,562 41,628 1,831,169 19
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
Aug-15 40,400 33,000 39,725 58,033 51,971 1,908,691 20
Sep-15 40,250 35,350 38,000 54,837 34,163 1,307,719 21
January 2014 - July 2018 Dec-15 37,825 34,150 37,000 47,897 39,437 1,426,482 19
140%
Jan-16 37,500 35,300 36,700 61,635 48,570 1,758,009 20
120% Feb-16 46,175 36,050 44,525 61,609 60,547 2,467,245 20
Mar-16 47,800 41,975 42,925 83,827 71,335 3,117,613 21
100% Apr-16 47,300 42,025 42,575 61,443 42,830 1,895,250 21
May-16 45,150 42,350 43,100 47,603 28,908 1,256,175 20
80% Jun-16 45,600 42,800 45,075 49,805 44,188 1,922,485 22
Jul-16 47,800 43,625 45,050 54,039 41,226 1,845,188 16
61.4%
Aug-16 46,950 44,600 45,650 65,450 53,712 2,441,888 22
60%
Sep-16 46,000 44,000 44,550 54,577 59,751 2,679,123 21
Oct-16 45,325 44,100 44,475 50,305 50,110 2,231,411 21
40% 37.2% Nov-16 44,550 39,600 40,525 61,215 52,053 2,163,382 22
34.3%
Dec-16 42,425 37,825 38,800 60,970 57,838 2,329,836 20
20%
Jan-17 42,000 38,800 41,200 51,627 44,325 1,784,042 21

- Feb-17 42,900 41,100 42,175 38,576 29,829 1,253,205 19
Mar-17 44,200 41,825 43,325 46,728 45,851 1,967,676 22
-20% Apr-17 45,800 43,400 44,500 32,501 35,530 1,597,678 17
Jun-17 49,500 46,250 48,800 30,957 20,965 1,002,417 15
Jul-17 49,550 46,525 48,950 57,378 38,597 1,859,619 21
Volume (Million Sh.) 435 505 611 505 330 Sep-17 51,750 48,975 48,975 46,530 35,754 1,803,875 19
Days 242 244 246 238 138 Dec-17 55,975 49,075 55,900 45,486 46,148 2,411,815 18
Price (Rupiah) Jan-18 58,100 52,500 54,400 65,442 54,090 2,954,508 22

High 33,000 46,000 47,800 55,975 58,100 Feb-18 55,550 53,500 53,900 51,750 51,007 2,775,512 19
Low 25,800 32,100 35,300 38,800 42,650 Mar-18 54,500 48,975 49,525 52,907 48,144 2,462,336 21
Close 32,300 37,000 38,800 55,900 43,250 Apr-18 52,500 44,550 46,350 62,781 46,408 2,288,264 21
Close* 32,300 37,000 38,800 55,900 43,250 May-18 49,625 44,900 45,600 79,338 58,505 2,747,809 20
Jun-18 46,900 43,875 46,100 60,978 36,985 1,670,317 13
PER (X) 45.65 48.24 46.74 60.89 46.74 Jul-18 47,625 42,650 43,250 65,101 35,043 1,581,593 22
PER Industry (X) 24.22 17.71 23.77 18.48 20.01
PBV (X) 45.03 58.48 46.67 82.44 65.84


Receivables 3,052,260 3,602,272 3,809,854 4,715,554 5,910,337

2,325,989 2,297,502 2,318,130 2,393,540 2,346,326 17,000
Inventories
Current Assets 6,337,170 6,623,114 6,588,109 7,941,635 9,476,988
12,750
Fixed Assets 7,348,025 8,320,917 9,529,476 1,042,213 10,537,494
Other Assets 81,310 292,968 156,383 89,882 69,489
8,500
Total Assets 14,280,670 15,729,945 16,745,695 18,906,413 20,526,125
Growth (%) 10.15% 6.46% 12.90% 8.57% 4,250

Long Term Liabilities 817,056 775,043 1,163,363 1,200,721 1,102,319 2014 2015 2016 2017 Jun-18
Growth (%) 12.61% 10.45% 14.05% 12.97%
Paid up Capital 76,300 76,300 76,300 76,300 76,300 4,827 4,704
4,599
Par Value 10 10 10 10 10
4,118

Total Equity 4,598,782 4,827,360 4,704,258 5,173,388 5,011,769
3,063
Growth (%) 4.97% -2.55% 9.97% -3.12% 2,007
Total Revenues 34,511,534 36,484,030 40,053,732 41,204,510 21,183,734

Growth (%) 5.72% 9.78% 2.87%
-103
2014 2015 2016 2017 Jun-18
Cost of Revenues 17,412,413 17,835,061 19,594,636 19,984,776 10,416,314

Gross Profit 17,099,121 18,648,969 20,459,096 21,219,734 10,767,420
Expenses (Income) 9,336,793 10,709,568 11,751,435 11,723,970 5,971,580
Growth (%) 2.28% 9.68% 9.05% 36,484

41,205
34,512
32,799
Other Income (Expenses) -85,606 -109,911 -135,776 -124,103 -74,939

21,184
Tax 1,938,199 1,977,685 2,181,213 2,367,099 1,191,032
Growth (%) 1.97% 9.21% 9.61%

7,582
Current Ratio (%) 71.49 65.40 60.56 63.37 65.76
7,005
Dividend (Rp) 336.00 766.00 835.00 915.00 - 7,005
6,391
752.10 766.95 837.57 918.03 462.63 5,739 5,852
EPS (Rp)
BV (Rp) 602.72 632.68 616.55 678.03 656.85 5,576
DAR (X) 0.68 0.69 0.72 0.73 0.76

3,530
DER(X) 2.11 2.26 2.56 2.65 3.10
4,147
ROA (%) 40.18 37.20 38.16 37.05 17.20 2,718
ROE (%) 124.78 121.22 135.85 135.40 70.43

GPM (%) 49.55 51.12 51.08 51.50 50.83 1,289
OPM (%) 22.49 21.76 21.74 23.05 22.64

NPM (%) 16.63 16.04 15.96 17.00 16.66
-140
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 44.67 99.88 99.69 99.67 -
Yield (%) 1.04 2.07 2.15 1.64 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
WIKA
WIJAYA KARYA (PERSERO) TBK.
Company Profile
WIKA was formed by the nationalization process of a Dutch company named, Naamloze Vennotschap
Technische Handel Maatschappij en Bouwbedijf Vis en Co. or NV Vis en Co. Pursuant To Government
Regulation No. 2 / 1960 and Minister of Public Works and Electric Power (PUTL) Decree No. 5 dated 29
March 1961, to be named Perusahaan Negara Bangunan Widjaja Karja.
The purpose of the Company is to be one of the best integrated Engineering, Procurement and
Construction (EPC) and Investment Company in South East Asia, and the Objective’s are Providing excellent
and integrated products and services in EPC and investment for infrastructure, building, energy, industrial
plant, industry, realty and property, fulfil key stakeholder expectation, implementing business ethics to
promote good corporate citizen and company sustainability, strategic overseas expansion and to
Implementing “Best Practice” Integrated Management System.
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, and PT Wijaya Karya Serang Panimbang.
In 2017 PT Wijaya Karya Tbk received an award as an issuer of analysts choice in program of Yuk Nabung
Saham 2017 from CSA, Appreciation of HC Management Improvement, The Most Popular Company
category Construction, Top 50 of The Biggest Market Capitalization Public Listed Companies, The Best State
Own Enterprisers & Top 20 Big Cap Listed Company, Top 5 GCG Issues in Construction Sector, Most
Admired CEO 2017, Trusted Company Based on Corporate Governance Perception Index (CGPI), and Zero
Accident 5,014,200 Safe Work Hours.
The Company is domiciled at Jln. D.I. Panjaitan Kav. 9, Jakarta. The Company started its activities
commercially in 1961. Number of employees of the Company on June 30th, 2018 was 2,395 employees.
August 2018
Disclaimer:

WIKA Wijaya Karya (Persero) Tbk.

79 | 13.9T | 0.21% | 80.41%
50 | 10.4T | 0.52% | 73.50%

Underwriter IPO :
PT CIMB-GK Securities Indonesia DIVIDEND ANNOUNCEMENT
PT Bahana Securities (Affiliated) Bonus Cash Recording Payment
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
2009 10.02 27-May-10 31-May-10 02-Jun-10 16-Jun-10 F
1. Imam Santoso 2011 17.28 23-May-12 24-May-12 28-May-12 11-Jun-12 F
2. Achmad Hidayat *) 2012 22.32 29-May-13 30-May-13 03-Jun-13 14-Jun-13 F
3. Eddy Kristianto 2013 27.82 28-Apr-14 29-Apr-14 02-May-14 13-May-14 F
4. Freddy R. Saragih 2014 20.03 29-Apr-15 30-Apr-15 05-May-15 22-May-15 F
5. Imas Aan Ubudiah *) 2015 20.35 09-May-16 10-May-16 12-May-16 27-May-16 F
6. Liliek Mayasari 2016 33.86 24-Mar-17 27-Mar-17 30-Mar-17 18-Mar-17 F
7. Suryo Hapsoro Tri Utomo *) 2017 26.82 02-May-18 03-May-18 07-May-18 25-May-18 F
ISSUED HISTORY
1. Tumiyana No. Type of Listing Shares Date Date
2. Agung Budi Waskito 1. First Issue 1,846,154,000 29-Oct-07 29-Oct-07
3. Antonius N.S. Kosasih 2. Negara RI (Series A) 1 29-Oct-07 29-Oct-07
4. Bambang Pramujo 3. Company Listing 3,999,999,999 29-Oct-07 29-Oct-07
5. Danu Prijambodo 4. ESOP II 213,500 T: 16-Dec-09 : 22-Dec-09
6. Destiawan Soewardjono 5. MSOP I 2,183,500 T: 24-May-10 : 30-Jun-10
7. Novel Arsyad 6. MSOP II 908,000 T: 24-May-10 : 30-Jun-10
7. MSOP I & II 152,081,500 T: 22-Nov-10 : 05-Jan-11
AUDIT COMMITTEE 8. ESOP/MSOP I & II 137,504,500 T: 20-May-11 : 01-Jul-13
1. Nurrachman 9. ESOP/MSOP II 9,974,000 T: 22-Nov-11 : 01-Jul-14
2. Darsono Prawironegoro 10. ESOP/MSOP I 206,000 30-Dec-13 30-Dec-13
3. M. Sjukrul Amien 11. Right Issue I 2,820,726,372 T: 22-Nov-16 : 29-Nov-16
4. Waluyati Supriyantini
CORPORATE SECRETARY
Puspita Anggraeni
HEAD OFFICE
Wika Tower 1 & 2
Jl. D.I. Panjaitan Kav. 9-10
Jakarta - 13340
Phone : (021) 8067-9200
Fax : (021) 2289-3830
Homepage : www.wika.co.id
Email : adwijaya@wikamail.id
investor.relations@wika.co.id
puspita@wikamail.co.id


TRADING ACTIVITIES
Wijaya Karya (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
3,600 240 Jan-14 1,985 1,580 1,950 39,945 484,540 901,013 20
Feb-14 2,185 1,900 2,145 57,551 850,413 1,734,639 20
3,150 210 Mar-14 2,505 2,120 2,390 53,471 842,897 1,956,887 20
Apr-14 2,535 2,050 2,265 88,318 1,193,527 2,718,051 20
May-14 2,475 2,230 2,345 48,610 678,582 1,597,528 18
2,700 180
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
2,250 150
Aug-14 2,990 2,595 2,870 42,619 442,129 1,229,926 20
Sep-14 2,950 2,580 2,605 48,236 379,891 1,065,777 22
1,800 120
Oct-14 2,935 2,420 2,860 56,541 487,366 1,313,689 23
Nov-14 3,140 2,750 3,005 36,189 317,504 936,247 20
1,350 90 Dec-14 3,895 3,015 3,680 52,094 394,563 1,292,573 20
900 60 Jan-15 3,795 3,455 3,745 52,642 422,511 1,535,100 21

Feb-15 3,895 3,460 3,660 55,188 417,389 1,520,634 19
450 30 Mar-15 3,670 3,320 3,495 50,820 304,513 1,059,529 22
Apr-15 3,620 2,930 2,985 44,846 296,524 1,000,500 21
May-15 3,390 2,835 3,140 48,134 364,505 1,126,932 19
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
Aug-15 2,835 2,370 2,765 53,430 374,592 989,582 20
Sep-15 2,920 2,485 2,590 41,560 208,513 576,663 21
January 2014 - July 2018 Dec-15 2,880 2,535 2,640 29,813 235,174 634,206 19
140%
Jan-16 2,910 2,605 2,800 35,647 287,391 807,865 20
120% Feb-16 2,820 2,580 2,605 44,554 326,810 877,033 20
Mar-16 2,730 2,425 2,610 67,712 465,055 1,199,333 21
100% Apr-16 2,765 2,520 2,650 37,202 215,531 575,267 21
May-16 2,660 2,200 2,400 31,090 180,766 446,863 20
80% Jun-16 3,000 2,400 2,960 46,124 456,973 1,281,418 22
Jul-16 3,070 2,830 2,980 27,396 213,347 623,073 16
Aug-16 3,390 2,970 3,240 38,491 304,019 976,475 22
60%
Sep-16 3,310 2,490 2,800 54,204 710,717 2,002,057 21
Oct-16 2,980 2,550 2,570 27,399 168,746 467,978 21
40%
37.2% Nov-16 2,860 2,310 2,430 49,703 516,874 1,284,395 22
29.5% Dec-16 2,620 2,270 2,360 38,278 398,293 981,027 20
20%
Jan-17 2,590 2,340 2,570 39,608 460,644 1,146,818 21

- 0.8% Feb-17 2,590 2,450 2,500 29,940 391,553 982,876 19
Mar-17 2,550 2,380 2,410 32,518 315,531 778,311 22
-20% Apr-17 2,430 2,180 2,370 42,095 339,707 787,387 17
Jun-17 2,290 2,190 2,210 26,060 209,842 468,245 15
Jul-17 2,280 1,965 2,080 48,826 353,369 739,213 21
Days 242 244 246 238 138 Dec-17 1,810 1,490 1,550 64,957 565,840 902,034 18
Price (Rupiah) Jan-18 2,190 1,510 2,080 113,182 1,357,633 2,572,044 22

High 3,895 3,895 3,390 2,590 2,190 Feb-18 2,110 1,855 1,925 70,911 649,658 1,278,077 19
Low 1,580 2,370 2,200 1,490 1,210 Mar-18 1,950 1,600 1,680 44,052 299,912 537,242 21
Close 3,680 2,640 2,360 1,550 1,550 Apr-18 1,785 1,540 1,585 35,455 274,240 471,201 21
Close* 3,408 2,445 2,360 1,550 1,550 May-18 1,715 1,215 1,670 61,736 666,605 989,187 20
Jun-18 1,690 1,310 1,325 18,801 140,560 213,406 13
PER (X) 42.35 25.97 39.54 11.57 13.44 Jul-18 1,585 1,210 1,550 40,871 316,623 449,258 22
PER Industry (X) 16.29 13.36 24.89 14.52 14.33
PBV (X) 4.79 2.99 3.71 0.95 0.93


Public Accountant : Soetjana, Mulyana & Partners
Receivables 2,639,364 3,836,199 5,104,561 7,155,850 9,091,356

50,000
Inventories 817,307 1,031,278 1,164,211 1,663,036 2,032,696

37,500
Investment 1,896,746 1,897,987 2,444,733 3,209,519 3,212,101
Fixed Assets 2,676,043 3,184,400 3,324,669 3,932,109 4,259,315
25,000
Other Assets 71,075 41,183 100,089 25,700 149,269
Total Assets 15,915,162 19,602,406 31,355,205 45,683,774 54,042,562
12,500
Growth (%) 23.17% 59.96% 45.70% 18.30%
-
Growth (%) 29.52% 31.44% 66.79% 25.82%
14,632 14,973
12,738
Paid up Capital 614,923 614,923 896,995 896,995 896,995
11,918
Par Value 100 100 100 100 100

8,864
Total Equity 4,978,758 5,438,101 12,737,989 14,631,825 14,972,628 4,979 5,438

5,809
Growth (%) 9.23% 134.24% 14.87% 2.33%

2,755

Total Revenues 12,463,216 13,620,101 15,668,833 26,176,403 12,977,369
-299
2014 2015 2016 2017 Jun-18

Growth (%) 9.28% 15.04% 67.06%
Cost of Revenues 11,038,647 11,965,441 13,476,892 23,300,169 11,491,142

Gross Profit 1,794,327 1,943,063 2,191,940 2,876,234 1,486,226
Operating Expenses 393,407 429,158 896,701 1,413,843 401,384 26,176
Operating Profit 1,400,919 1,513,905 - - 1,084,843

Growth (%) 8.07% -100.00% 20,836
15,669
Other Income (Expenses) -255,029 -415,824 - - -396,926 13,620 12,977
12,463
15,496

Tax 395,094 395,077 84,210 106,276 55,393 10,156
Profit for the period 750,796 703,005 1,211,029 1,356,115 632,523

Growth (%) -6.37% 72.26% 11.98%
4,816
-524
Period Attributable 615,181 625,044 1,058,935 1,202,069 517,251 2014 2015 2016 2017 Jun-18
Comprehensive Income 750,796 709,311 1,194,411 1,308,466 632,523
Comprehensive Attributable 615,181 631,350 1,043,915 1,158,684 517,251
Dividend (Rp) 20.03 20.35 33.86 26.82 - 1,356
1,211
EPS (Rp) 122.10 114.32 135.01 151.18 70.52
BV (Rp) 809.66 884.36 1,420.07 1,631.20 1,669.20 1,079
DAR (X) 0.69 0.72 0.59 0.68 0.72 751

703
DER(X) 2.20 2.60 1.46 2.12 2.61 633
803
ROA (%) 4.72 3.59 3.86 2.97 1.17 526
ROE (%) 15.08 12.93 9.51 9.27 4.22

GPM (%) 14.40 14.27 13.99 10.99 11.45 250
OPM (%) 11.24 11.12 - - 8.36

NPM (%) 6.02 5.16 7.73 5.18 4.87
-27
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 16.40 17.80 25.08 17.74 -
Yield (%) 1.51 1.54 2.56 2.02 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
WSBP
WASKITA BETON PRECAST TBK.
Company Profile
PT Waskita Beton Precast Tbk. Was established on October 7 th 2014 , PT. Waskita Beton Precast tbk
operates as a construction services company. The Company was originally
Precast Division of PT Waskita Karya (Persero) Tbk, which commenced commercial operation at the
end of 2013. In 2014, after separation, the company officially operates
as PT Waskita Beton Precast Tbk.
The Company offers precast concrete for buildings and bridges, retaining walls, drainages, ready-mix
concrete, barriers, and rail pads. Waskita Beton Precast serves customers in Indonesia. The Main
activity of PT Waskita Beton Precast Tbk are the production of precast concrete and ready mix concrete
with the operation of 11 precast factories, 68 ready mix/batching plant and 5 stone crusher.
The Purpose of the Company is to make PT Waskita Beton Precast Tbk. The Leading Precast and Ready
Mix Manufacturing Company in Indonesia, and the Objective’s are making a product that constantly
meets the expectation of the costumer and inovate the product to gain costumers recognition, making
the Human Recources competent and competitive in the Precast and Ready Mix industry, Forming a
mutually beneficial relationship with companies that contribute to PT Waskita Beton Precast Tbk,
growth. Utilizing Information and technology to achieve competitiveness in the Precast and Ready Mix
Industry, Inovation and Product Development.
In 2017 the company received awards: Corporate Image Award 2017 kategori Precast Concrete Product
Manufaktur dalam Excellence in Building and Managing Corporate Image, Link Match, Image Award
2017” for Precast Concrete Product Manufacture category. The award was given to the Company for
its excellent Quality, Performance, Attractiveness and Responsibility, Powerful Company 2017” for
“Cement” category in Indonesia Most Powerful Company Award 2017, And Indonesia Best
Entrepreneur & Company Award 2017.
The Company is located in Teraskita Building, Jl. MT Haryono Kav No. 10 Jakarta. As of June 30th, 2018,
The Company had 1,540 Employees.
August 2018
Disclaimer:

WSBP Waskita Beton Precast Tbk.

92 | 11.3T | 0.17% | 82.79%
43 | 11.3T | 0.57% | 69.68%

Established Date : 07-Oct-2014 1. PT Waskita Karya (Persero) Tbk. 15,816,680,599 : 60.00%
Listing Date : 20-Sep-2016 2. PT Waskita Beton Precast Tbk. 1,845,281,000 : 7.00%
PT Bahana Securities
F/I
BOARD OF COMMISSIONERS 2016 12.04 21-Mar-17 22-Mar-17 24-Mar-17 05-Apr-17 F
1. Fery Hendriyanto 2017 30.60 12-Apr-18 13-Apr-18 17-Apr-18 09-May-18 F
2. Abdul Ghofarrozin *)
3. Anis Baridwan *) ISSUED HISTORY
4. Haris Gunawan Listing Trading
5. Suhendro Bakri *) No. Type of Listing Shares Date Date
*) Independent Commissioners 1. First Issue 10,544,463,000 20-Sep-16 20-Sep-16
2. Company Listing 15,816,694,534 20-Sep-16 20-Sep-16
BOARD OF DIRECTORS
1. Jarot Subana
2. Agus Wantoro
3. Antonius Y.T Nugroho
4. Munib Lusianto
5. Yudhi Dharmawan
AUDIT COMMITTEE
1. Suhendro Bakri
2. Inggir Elerida
3. Sri Yanto
CORPORATE SECRETARY
Ratna Ningrum
HEAD OFFICE
Teraskita Building, 3-3A Floor
Jl. MT. Haryono Kav 10A, RT 11, RW11, Cipinang Cempedak, Jatinegara
Jakarta 13340
Phone : (021) 2289-2999
Fax : (021) 2983-8020
Homepage : www.waskitaprecast.co.id
Email : info@waskitaprecast.co.id


TRADING ACTIVITIES
Waskita Beton Precast Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
Price* September 2016 - July 2018 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
640 2,400 Sep-16 610 490 515 55,082 2,982,249 1,611,506 9
Oct-16 645 515 620 83,586 4,496,059 2,607,264 21
560 2,100 Nov-16 630 555 575 81,621 3,069,665 1,803,086 22
Dec-16 600 530 555 54,508 1,564,880 885,866 20
480 1,800
Jan-17 600 540 585 45,358 1,623,940 938,878 21
Feb-17 595 550 560 44,408 1,674,408 960,084 19
400 1,500
Mar-17 560 500 500 49,625 1,766,128 945,229 22
Apr-17 530 494 505 43,933 1,501,768 762,547 17
320 1,200
May-17 510 474 505 49,143 1,622,014 798,794 20
Jun-17 505 478 480 34,542 888,270 433,562 15
240 900 Jul-17 494 416 486 73,103 2,246,219 1,044,590 21
Aug-17 488 436 436 40,373 1,476,889 688,698 22
160 600 Sep-17 450 354 360 89,692 3,353,681 1,316,129 19
Oct-17 426 336 412 113,699 4,329,782 1,669,988 22
80 300 Nov-17 424 388 398 58,609 2,020,763 822,197 22
Dec-17 414 358 408 50,191 1,876,760 724,966 18
Jan-18 510 396 474 89,625 2,889,996 1,305,819 22

Sep-16 Mar-17 Sep-17 Mar-18
Feb-18 498 428 480 94,694 3,314,612 1,558,314 19
Mar-18 484 400 414 69,310 2,184,880 957,123 21
Apr-18 460 400 404 71,893 2,090,755 905,571 21
Closing Price*, Jakarta Composite Index (IHSG) and May-18 408 354 402 60,982 1,486,966 572,757 20
Basic Industry and Chemicals Index Jun-18 418 366 366 20,767 426,521 169,259 13
September 2016 - July 2018 Jul-18 428 340 428 50,602 1,550,641 613,698 22
75%
60%
56.2%
45%
30%
15%
12.0%
-15%
-20.7%
-30%
-45%
Sep 16 Mar 17 Sep 17 Mar 18
SHARES TRADED 2016 2017 Jul-18

Volume (Million Sh.) 12,113 24,381 13,944
Value (Billion Rp) 6,908 11,106 6,083
Frequency (Thou. X) 275 693 458
Days 72 238 138
Price (Rupiah)
High 645 600 510
Low 490 336 340
Close 555 408 428
Close* 555 408 428
PER (X) 27.99 10.75 8.17

PER Industry (X) 20.86 13.10 13.08
PBV (X) 2.04 1.47 1.55


Cash & Cash Equivalents 4,205,820 1,028,346 591,214 15,000
Receivables 3,051,626 7,489,221 3,590,742

231,947 858,693 1,551,516 12,000
Inventories
Current Assets 8,132,621 11,574,945 10,973,431
9,000
Fixed Assets 1,932,852 3,148,701 3,503,500
Other Assets 38,303 41,964 166,921
6,000
Total Assets 13,734,267 14,919,549 14,700,281
Growth (%) 8.63% -1.47% 3,000
Current Liabilities 4,766,317 7,593,431 7,430,060 -

Long Term Liabilities 1,562,449 9,461 13,125 2016 2017 Jun-18
Total Liabilities 6,328,766 7,602,893 7,443,185
Growth (%) 20.13% -2.10%
Authorized Capital 6,326,678 6,326,678 6,326,678 7,406 7,317 7,257
Paid up Capital 26,361,158 2,636,116 2,636,116 7,406
Paid up Capital (Shares) 263,612 26,361 26,361

Par Value 100 100 100
5,895
Retained Earnings 730,206 1,414,387 1,354,827

Total Equity 7,405,501 7,316,656 7,257,096
4,384
Growth (%) -1.20% -0.81% 2,873
Total Revenues 4,717,150 7,104,158 3,846,149

Growth (%) 50.60%
-148
2016 2017 Jun-18
Cost of Revenues 3,667,088 5,155,967 2,699,116

Gross Profit 1,050,062 1,948,191 1,147,033
Expenses (Income) 54,280 326,395 86,627
Operating Profit 995,783 1,621,796 1,060,407 7,104
Growth (%) 62.87%

7,104
4,717
5,655
Other Income (Expenses) -45,154 -462,208 -214,774

Income before Tax 967,345 1,156,234 845,633 4,206
3,846
Tax 332,525 155,904 154,946

Profit for the period 634,820 1,000,330 690,687 2,756
Growth (%) 57.58%

1,307
Period Attributable 634,820 1,000,330 690,687 -142
Comprehensive Income 635,271 1,004,519 690,687 2016 2017 Jun-18

Comprehensive Attributable 635,271 1,004,519 690,687
Current Ratio (%) 170.63 152.43 147.69
1,000
Dividend (Rp) 12.04 30.60 - 1,000
EPS (Rp) 2.41 37.95 26.20

BV (Rp) 28.09 277.55 275.30 796
691
635
DAR (X) 0.46 0.51 0.51
DER(X) 0.85 1.04 1.03
592
ROA (%) 4.62 6.70 4.70 388
ROE (%) 8.57 13.67 9.52

GPM (%) 22.26 27.42 29.82 184
OPM (%) 21.11 22.83 27.57

NPM (%) 13.46 14.08 17.96
-20
2016 2017 Jun-18

Payout Ratio (%) 499.97 80.65 -
Yield (%) 2.17 7.50 -

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 January 1,
1961, and the Company at the time was based in Jakarta.
Since the company goes public in 2012, the company has started to expand by engaging in other business
lines such as Concrete Precast, Toll Road, Realty and Energy. Until 2017, the company has 4 subsidiaries;
PT Waskita Beton Precast, a Subsidiary in precast concrete sector; PT Waskita Investment Toll Road, a
Subsidiary in toll road sector; PT Waskita Karya Realty, a Subsidiary in Property/realty sector; and PT
Waskita Karya Energy, which will become a holding Company for PT Waskita Sangir Energi that engages
in Electricity Power Plant Sector.
Currently PT Waskita Karya Tbk. had a couple of on going projects, The first one is LRT Palembang with a
contract value of Rp10,9 Billion, The completion of construction of LRT Palembang is faster than target,
The construction of Light Rail Transit (LRT) of Palembang is expected to be completed in February 2018.
The LRT Connects Sultan Mahmud Badaruddin II International Airport with Jakabaring Sports Complex.
The Second one is Brooklyn SOHO Alam Sutera, The Apartement Blok that is located in Alam Sutera
tangerang is expected to be the new icon of Alam Sutera Boulevard, with a Contract Value of Rp517
Million, the Project will end on 2021.
In 2017 the company received awards: Leading SOE 2016 Award Investment Category Infrastructure,
Best Ranking II Award Company Category Public Companies, Indonesia Most Innovative Business Award
2017 Category Construction and Building, Most Powerful Company 2017 Category Building Construction,
TOP Capital Market Category TOP Shares 2017, Economic Challenges Award 2017 Category Construction,
TOP 50 of the biggest Market Capitalization Public Listed Companies, Best SOE 2017 Non-Finance Field
Construction & Construction Services with the Largest Assets Sector.
With the motto of “Onward through High Quality Performance”, the company is committed to move
forward and develop as the leading Indonesia company in construction industry, engineering,
infrastructure investment and realty. Given the advantages, experiences, and resources, The Company is
ready to welcome a brighter future.
The head office of the company is located in Waskita Building, MT. Haryono Kav. No. 10 Jakarta with The
total number of employees at June 30th, 2018 was 3,826.
August 2018
Disclaimer:

WSKT Waskita Karya (Persero) Tbk.

40 | 28.8T | 0.43% | 69.03%
29 | 18.0T | 0.90% | 59.62%

Established Date : 01-Jan-1961 1. Republic of Indonesia 8,963,697,887 : 66.04%
Underwriter 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
2014 10.31 04-May-15 05-May-15 07-May-15 28-May-15 F
BOARD OF COMMISSIONERS 2015 15.44 05-Apr-16 06-Apr-16 08-Apr-16 29-Apr-16 F
1. Badrodin Haiti 2016 37.87 24-Mar-17 27-Mar-17 30-Mar-17 20-Mar-17 F
2. Arif Baharudin 2017 57.19 13-Apr-18 16-Apr-18 18-Apr-18 09-May-18 F
3. Danis Hidayat Sumadilaga
4. M. Aqil Irham *) ISSUED HISTORY
5. Muradi *) Listing Trading
6. R. Agus Sartono No. Type of Listing Shares Date Date
7. Viktor S. Sirait *) 1. First Issue 3,082,315,000 19-Dec-12 19-Dec-12
*) Independent Commissioners 2. Company Listing 6,549,921,000 19-Dec-12 19-Dec-12
3. MESOP I 98,027,925 T: 23-May-14 : 22-Jun-17
BOARD OF DIRECTORS 4. MESOP II 190,140,475 T: 20-May-15 : 28-Nov-17
1. I Gusti Ngurah Putra 5. Right Issue 3,653,498,200 08-Jul-15 08-Jul-15
2. Bambang Rianto
3. Didit Oemar Prihadi
4. Fery Hendriyanto
5. Hadjar Seti Adji
6. Haris Gunawan
7. Wahyu Utama Putra
AUDIT COMMITTEE
1. Viktor S. Sirait
2. Hengki Z P Tampubolon
3. R Agus Sartono
4. Tjahjo Winarto
CORPORATE SECRETARY
Shastia Hadiarti
HEAD OFFICE
Waskita Building
Jl. MT Haryono Kav. No. 10 Cawang
Jakarta 13340
Phone : (021) 850-8510; 850-8520
Fax : (021) 850-8506
Homepage : www.waskita.co.id
Email : waskita@waskita.co.id


TRADING ACTIVITIES
Waskita Karya (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
3,200 400 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
2,800 350 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
May-14 800 705 720 23,385 703,583 533,679 18
2,400 300
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
2,000 250
Aug-14 950 785 905 40,511 1,277,869 1,125,149 20
Sep-14 945 820 835 44,374 1,365,148 1,201,303 22
1,600 200
Oct-14 985 800 970 47,946 1,467,392 1,312,756 23
Nov-14 1,060 940 1,045 32,150 864,321 873,185 20
1,200 150 Dec-14 1,550 1,040 1,470 60,018 1,285,521 1,619,692 20
800 100 Jan-15 1,740 1,355 1,715 70,104 1,483,277 2,224,845 21

Feb-15 1,890 1,680 1,815 66,468 1,082,352 1,936,847 19
400 50 Mar-15 1,825 1,630 1,780 59,602 922,085 1,598,474 22
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
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
Sep-15 1,675 1,525 1,550 32,563 419,021 676,229 21
Property, Real Estate and Bulding Construction Index Nov-15 1,760 1,605 1,605 46,419 639,780 1,085,373 21
January 2014 - July 2018 Dec-15 1,690 1,605 1,670 30,077 407,446 673,388 19
665%
Jan-16 1,775 1,615 1,735 56,094 850,420 1,459,308 20
570% Feb-16 2,000 1,725 1,930 63,550 848,534 1,598,813 20
Mar-16 2,045 1,880 2,005 46,588 561,814 1,103,782 21
475% Apr-16 2,395 1,995 2,345 68,067 827,418 1,820,681 21
May-16 2,660 2,330 2,510 91,521 1,200,692 3,011,293 20
417.8%
380% Jun-16 2,580 2,360 2,550 97,531 1,240,574 3,067,552 22
Jul-16 2,860 2,490 2,770 68,115 871,744 2,372,370 16
Aug-16 2,860 2,670 2,790 74,767 798,702 2,225,348 22
285%
Sep-16 2,800 2,380 2,620 66,683 789,305 2,080,226 21
Oct-16 2,740 2,560 2,620 43,795 433,743 1,140,016 21
190%
Nov-16 2,620 2,120 2,550 60,633 643,888 1,533,663 22
Dec-16 2,650 2,290 2,550 35,516 363,350 912,572 20
95%
37.2% Jan-17 2,680 2,500 2,560 31,508 318,343 826,513 21
29.5%
- Feb-17 2,650 2,430 2,480 33,660 350,423 890,325 19
Mar-17 2,500 2,320 2,370 48,847 446,818 1,071,230 22
-95% Apr-17 2,440 2,230 2,390 33,377 274,924 648,930 17
Jun-17 2,380 2,210 2,320 27,392 185,512 429,405 15
Jul-17 2,400 2,180 2,390 42,796 366,798 831,192 21
Days 242 241 246 238 138 Dec-17 2,270 1,860 2,210 48,580 464,050 998,974 18
Price (Rupiah) Jan-18 2,870 2,130 2,830 70,710 731,714 1,888,451 22

High 1,550 1,900 2,860 2,680 3,150 Feb-18 3,150 2,640 2,910 78,236 780,564 2,262,700 19
Low 402 1,355 1,615 1,775 1,770 Mar-18 3,000 2,430 2,470 68,240 633,621 1,710,234 21
Close 1,470 1,670 2,550 2,210 2,120 Apr-18 2,660 2,140 2,210 66,493 739,792 1,818,022 21
Close* 1,433 1,670 2,550 2,210 2,120 May-18 2,380 1,875 2,320 85,885 990,296 2,090,637 20
Jun-18 2,450 1,915 1,925 39,849 371,030 822,085 13
PER (X) 84.55 21.63 27.78 7.73 4.81 Jul-18 2,170 1,770 2,120 101,320 969,224 1,900,990 22
PER Industry (X) 16.29 13.36 24.89 14.52 14.33
PBV (X) 5.90 2.34 2.14 1.32 1.10


Receivables 2,990,509 5,512,986 8,622,125 14,133,198 15,520,390

100,000
Inventories 604,279 826,384 2,556,732 3,235,501 4,859,559

75,000
Investment 659,691 972,699 2,619,105 3,449,338 4,855,408
Fixed Assets 621,792 1,923,144 3,275,335 4,742,288 5,443,781
50,000
Other Assets 33,023 236,767 98,338 324,593 721,204
Total Assets 12,542,041 30,309,111 61,425,182 97,895,761 117,604,193
25,000
Growth (%) 141.66% 102.66% 59.37% 20.13%
-
Growth (%) 112.57% 116.71% 68.28% 21.59%
26,238
22,755
26,238
Paid up Capital 966,634 1,357,249 1,357,328 1,357,371 1,357,371

20,885
16,773
Par Value 100 100 100 100 100
Retained Earnings 954,024 1,933,161 3,334,162 6,681,081 9,346,955
15,533
9,704
Total Equity 2,848,830 9,704,207 16,773,219 22,754,825 26,237,640 10,180
Growth (%) 240.64% 72.84% 35.66% 15.31%

4,828
2,849
Total Revenues 10,286,813 14,152,753 23,788,323 45,212,898 22,899,801
-525
2014 2015 2016 2017 Jun-18

Growth (%) 37.58% 68.08% 90.06%
Cost of Revenues 9,177,917 12,231,515 19,820,484 35,749,365 18,171,064

Gross Profit 1,306,012 1,932,837 3,967,838 9,463,532 4,728,737
Operating Expenses 366,629 193,337 822,057 2,936,931 -1,116,870 45,213
Operating Profit 939,383 1,739,500 3,145,782 - 5,845,607

45,213
Growth (%) 85.17% 80.84% -100.00% 35,989
Other Income (Expenses) -183,781 -341,496 -990,192 -1,905,955 -1,327,052 26,766 23,788 22,900
Income before Tax 755,602 1,398,004 2,155,589 4,620,646 4,518,555
254,389 350,413 342,520 419,074 580,225 14,153
Tax
17,543
10,287
Profit for the period 501,213 1,047,591 1,813,069 4,201,572 3,938,330
Growth (%) 109.01% 73.07% 131.74%
8,319
-904
Period Attributable 501,531 1,047,738 1,713,261 3,881,712 2,990,180 2014 2015 2016 2017 Jun-18
Comprehensive Income 497,058 1,483,266 1,809,183 4,176,782 3,955,619
Comprehensive Attributable 497,375 1,483,414 1,709,375 3,856,922 3,007,470
Dividend (Rp) 10.31 15.44 37.87 57.19 - 4,202
3,938
EPS (Rp) 51.85 77.18 133.58 309.54 290.14

BV (Rp) 294.72 714.99 1,235.75 1,676.39 1,932.97 3,344
DAR (X) 0.77 0.68 0.73 0.77 0.78

DER(X) 3.40 2.12 2.66 3.30 3.48
2,487
1,813
ROA (%) 4.00 3.46 2.95 4.29 3.35
1,048
1,630
ROE (%) 17.59 10.80 10.81 18.46 15.01

GPM (%) 12.70 13.66 16.68 20.93 20.65 773 501
OPM (%) 9.13 12.29 13.22 - 25.53

NPM (%) 4.87 7.40 7.62 9.29 17.20
-84
2014 2015 2016 2017 Jun-18

Payout Ratio (%) 19.89 20.00 28.35 18.48 -
Yield (%) 0.54 0.80 1.97 2.97 -

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%
ClosingPrice
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

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IDX LQ45

INDEX MEMBER PROFILES

No. Code Stock Name Page

RESEARCH AND DEVELOPMENT • INDONESIA STOCK EXCHANGE

ADHI Adhi Karya (Persero) Tbk.

68 | 7.01T | 0.35% | 81.32%

COMPANY HISTORY SHAREHOLDERS (June 2018)

RESEARCH AND DEVELOPMENT • INDONESIA STOCK EXCHANGE

ADHI Adhi Karya (Persero) Tbk.

850 60 Jan-15 3,780 3,320 3,695 64,117 576,447 2,067,005 21

Price (Rupiah) Jan-18 2,370 1,805 2,230 57,126 616,400 1,299,800 22

RESEARCH AND DEVELOPMENT • INDONESIA STOCK EXCHANGE

ADHI Adhi Karya (Persero) Tbk.

Receivables 3,214,051 3,311,392 1,596,824 1,852,385 3,858,382

Inventories 132,014 162,651 131,016 3,683,145 4,077,245

Paid up Capital 180,132 356,085 356,085 356,085 356,085

Par Value 100 100 100 100 100

Total Equity 1,751,543 5,162,132 5,442,780 5,869,917 5,943,294 2,306

INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Mar-18

2014 2015 2016 2017 Mar-18

Cost of Revenues 7,655,377 8,414,926 9,948,797 13,098,372 2,710,014

Operating Profit 724,884 611,230 728,591 1,707,672 310,080

Growth (%) -15.68% 19.20% 134.38% 12,064 11,064

Income before Tax 599,557 746,091 612,622 957,282 187,086

ROA (%) 3.17 2.77 1.57 1.82 0.27 201

ROE (%) 18.94 9.01 5.79 8.81 1.23

OPM (%) 8.38 6.51 6.59 11.27 9.87

2014 2015 2016 2017 Mar-18

RESEARCH AND DEVELOPMENT • INDONESIA STOCK EXCHANGE

RESEARCH AND DEVELOPMENT • INDONESIA STOCK EXCHANGE

ADRO Adaro Energy Tbk.

14 | 31.3T | 1.57% | 42.35%

COMPANY HISTORY SHAREHOLDERS (June 2018)

RESEARCH AND DEVELOPMENT • INDONESIA STOCK EXCHANGE

ADRO Adaro Energy Tbk.

650 120 Jan-15 1,050 925 1,000 70,943 1,137,115 1,117,884 21

Jan-17 1,760 1,655 1,695 73,011 531,367 911,947 21

Price (Rupiah) Jan-18 2,650 1,810 2,450 112,333 1,644,802 3,661,205 22

RESEARCH AND DEVELOPMENT • INDONESIA STOCK EXCHANGE

ADRO Adaro Energy Tbk.

Receivables 3,571,196 2,732,288 4,099,162 4,354,964 5,025,800

Current Liabilities 9,632,863 6,269,001 8,660,241 10,476,695 11,245,404 -

Retained Earnings 16,302,141 19,132,402 21,868,555 26,645,136 28,991,003

Growth (%) 14.10% 9.98% 8.98% 8.25% 23,282

INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Jun-18 11,041

Total Revenues 41,355,222 37,029,662 33,915,675 44,143,895 23,194,632

2014 2015 2016 2017 Jun-18

Cost of Revenues 32,404,572 29,535,382 24,708,307 28,678,826 16,107,835

Other Income (Expenses) -2,091,648 -716,019 -552,193 -302,039 -75,779

Tax 1,721,080 1,779,012 2,765,586 5,325,624 2,335,378

Growth (%) -8.60% 119.76% 58.77%

Period Attributable 2,212,327 2,102,757 4,495,968 6,547,708 2,814,297 -883

EPS (Rp) 69.17 65.74 140.56 204.71 87.99

OPM (%) 14.73 12.36 23.28 29.21 24.31

2014 2015 2016 2017 Jun-18

RESEARCH AND DEVELOPMENT • INDONESIA STOCK EXCHANGE

RESEARCH AND DEVELOPMENT • INDONESIA STOCK EXCHANGE

AKRA AKR Corporindo Tbk.

44 | 11.3T | 0.57% | 70.24%

COMPANY HISTORY SHAREHOLDERS (June 2018)

RESEARCH AND DEVELOPMENT • INDONESIA STOCK EXCHANGE

AKRA AKR Corporindo Tbk.

2,500 40 Jan-15 4,750 4,110 4,695 50,776 274,374 1,245,406 21