IDX LQ45 February 2017

IDX LQ45
February 2017
Contents
Forewords
LQ45 Index Constituents for the period of February July 2017
No. Code Stock Name Page

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

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

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

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

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

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

FOREWORDS
This publication is designated as a service to domestic investors and other capital market participants, as part of the nation-wide efforts
in educating and improving the dissemination of capital market information. These efforts are important in carrying out the task of
expanding the domestic investor base.
To improve the future editions of this publication, the readers comments and feedback would be highly appreciated.
Jakarta, February 2017
Research and Development Division

Indonesia Stock Exchange
2017 Indonesia Stock Exchange. All rights reserved.
Disclaimer :
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being
those of the publisher or of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the
information contained within the publication it should not be by any person relied upon as the basis for taking any action or making any decision. The
Indonesia Stock Exchange cannot be held liable or otherwise responsible in anyway for any advice action taken or decision made on the basis of the facts
and opinions stated or expressed or stated within this publication.
LQ45 Index Constituents
for the period of February July 2017
COMPANY REPORT
AALI
ASTRA AGRO LESTARI TBK.
Company Profile

PT Astra Agro Lestari Tbk. was established dated October 3rd, 1988. The Company is
committedtomanageoilpalmplantationwithlocationsspreadoverSumatra,Kalimantan,
andSulawesi,producinghighqualityCrudePalmOil(CPO),tomeetthedemandsofboth
thedomesticandexportmarkets.
ApartfromproducingCPO,theCompanyalsoproducespalmoilderivativeproductsatits
refinery established in West Sulawesi. These palm oil derivative products are aimed to
satisfythedemandsoftheexportmarket.
AsoneofthelargestoilpalmplantationsinIndonesiawhichhasbeenoperatingfor35
years,PTAstraAgroLestariTbk.maybeconsideredasrolemodelinmanagingoilpalm
estates.Moreover,throughapartnershipmodelwiththecommunities,boththrougha
plasmaprogramandIncomeGeneratingActivities(IGA),theCompanywasabletorealize
itsvisiontobecomealeadingcompanyandcontributetothedevelopmentandprosperity
ofthenation.

In addition to strengthening its position at the upstream sector by managing an area of
297,862 hectares comprising nucleus and plasma plantations, the Company also
strengthened its palm oil downstream business. Owning a palm oil refinery, PT Tanjung
SaranaLestariintheMamujuUtaraRegency,WestSulawesiand50%equitysharesinPT
Kreasijaya Adhikarya in Dumai, Riau Province, has significantly strengthened the
Companyscompetitivenessinthepalmoilbusinesschain.

PTAstraInternationalTbk.istheparententityoftheCompany,whereasJardineMatheson
HoldingsLtd,incorporatedinBermuda,isitsultimateparententity.AsofDecember31st,
2016,theCompanyandsubsidiarieshad35,400permanentemployees.
February 2017
Disclaimer:
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being those of the publisher or
of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the publication it should not be
by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or otherwise responsible in anyway for any
advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.
2 RESEARCH AND DEVELOPMENT DIVISION

AALI Astra Agro Lestari Tbk. [S]
COMPANY REPORT : JANUARY 2017 As of 31 January 2017
Main Board Individual Index : 1,281.521
Industry Sector : Agriculture (1) Listed Shares : 1,924,688,333
Industry Sub Sector : Plantation (12) Market Capitalization : 30,361,958,453,075
33 | 30.4T | 0.53% | 66.49%
41 | 10.3T | 0.55% | 72.12%
COMPANY HISTORY SHAREHOLDERS (January 2017)

Established Date : 03-Oct-1988 1. PT Astra International Tbk. 1,533,682,440 : 79.68%
Listing Date : 09-Dec-1997 2. Public (<5%) 391,005,893 : 20.32%
Under Writer IPO :
PT ABN AMRO Hoare Govett Indonesia DIVIDEND ANNOUNCEMENT
Securities Administration Bureau : Bonus Cash Recording Payment
F/I
PT Raya Saham Registra Year Shares Dividend Cum Date Ex Date Date Date
Plaza Central Building 2nd Fl. 1997 37.00 22-Jun-98 23-Jun-98 01-Jul-98 20-Jul-98 F
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1998 60.00 29-Oct-98 30-Oct-98 09-Nov-98 23-Nov-98 I
Phone : (021) 252-5666 1998 25.00 27-May-99 28-May-99 08-Jun-99 05-Jul-99 F
Fax : (021) 252-5028 1999 5:1 27-May-99 28-May-99 08-Jun-99 05-Jul-99 BS
1999 45.00 31-May-00 02-Jun-00 12-Jun-00 26-Jun-00 F
BOARD OF COMMISSIONERS 2000 7.00 07-Jun-01 08-Jun-01 13-Jun-01 27-Jun-01 F
1. Prijono Sugiarto 2001 10.00 18-Jun-02 19-Jun-02 24-Jun-02 04-Jul-02 F
2. Chiew Sin Cheok 2002 60.00 05-Jun-03 06-Jun-03 10-Jun-03 24-Jun-03 F
3. Johannes Loman 2003 90.00 04-Jun-04 07-Jun-04 09-Jun-04 23-Jun-04 F
4. Anugerah Pekerti 2004 100.00 06-Dec-04 07-Dec-04 09-Dec-04 23-Dec-04 I
5. Soemadi Djoko Moerdjono Brotodiningrat 2004 150.00 06-Jun-05 07-Jun-05 09-Jun-05 23-Jun-05 F
*) Independent Commissioners 2005 325.00 12-May-06 15-May-06 17-May-06 01-Jun-06 F
2006 95.00 17-Oct-06 18-Oct-06 20-Oct-06 10-Nov-06 I
BOARD OF DIRECTORS 2006 230.00 11-Jun-07 12-Jun-07 14-Jun-07 25-Jun-07 I
1. Widya Wiryawan 2007 190.00 19-Oct-07 22-Oct-07 24-Oct-07 02-Nov-07 I
2. Bambang Palgoenadi 2007 625.00 16-Jun-08 17-Jun-08 19-Jun-08 30-Jun-08 F
3. Juddy Arianto 2008 350.00 23-Oct-08 24-Oct-08 28-Oct-08 11-Nov-08 I
4. Jamal Abdul Nasser 2008 155.00 04-Jun-09 05-Jun-09 09-Jun-09 23-Jun-09 F
5. Rudy 2009 220.00 30-Oct-09 02-Nov-09 04-Nov-09 11-Nov-09 I
6. Joko Supriyono 2009 685.00 08-Jun-10 09-Jun-10 11-Jun-10 25-Jun-10 F
2010 190.00 26-Oct-10 27-Oct-10 29-Oct-10 12-Nov-10 I
AUDIT COMMITTEE 2010 640.00 20-May-11 23-May-11 25-May-11 09-Jun-11 F
1. Soemadi Djoko Moerdjono Brotodiningrat 2011 300.00 24-Oct-11 25-Oct-11 27-Oct-11 10-Nov-11 I
2. Juliani Eliza Syaftari 2011 695.00 08-May-12 09-May-12 14-May-12 29-May-12 F
3. Ratna Wardhani 2012 230.00 16-Oct-12 17-Oct-12 19-Oct-12 05-Nov-12 I
2012 455.00 15-May-13 16-May-13 20-May-13 03-Jun-13 F
CORPORATE SECRETARY 2013 160.00 02-Oct-13 03-Oct-13 07-Oct-13 23-Oct-13 I
Rudy Limardjo 2013 515.00 09-May-14 12-May-14 14-May-14 30-May-14 F
2014 244.00 09-Oct-14 10-Oct-14 14-Oct-14 28-Oct-14 I
HEAD OFFICE 2014 716.00 21-Apr-15 22-Apr-15 24-Apr-15 15-May-15 F
Jln. Pulo Ayang Raya Blok OR - I 2016 99.00 27-Sep-16 28-Sep-16 30-Sep-16 17-Oct-16 I
Kawasan Industri Pulogadung
Jakarta 13930 ISSUED HISTORY
Phone : (021) 461-6555 Listing Trading
Fax : (021) 461-6682; 461-6689 No. Type of Listing Shares Date Date
1. First Issue 125,800,000 09-Dec-97 09-Dec-97
Homepage : www.astra-agro.co.id 2. Company Listing 1,132,200,000 T: 09-Dec-97 : 21-Jul-98
Email : Investor@astra-agro.co.id 3. Bonus Shares 251,600,000 06-Jul-99 06-Jul-99
4. Option Conversion 12,005,000 T: 22-Apr-02 : 07-Jun-02
5. Option Conversion I & II 5,494,500 T: 10-Jun-02 : 22-Jan-03
6. Option Conversion II 18,108,500 T: 02-Jul-02 : 18-May-04
7. Option Conversion I 162,000 T: 14-Jan-03 : 31-Jan-03
8. Option Conversion II & III 9,856,500 T: 14-Jan-04 : 23-Apr-04
9. Option Conversion III 19,518,500 T: 15-Jan-04 : 13-May-05
10. Right Issue I 349,943,333 T: 17-Jun-16 : 24-Jun-16
RESEARCH AND DEVELOPMENT DIVISION 3

AALI Astra Agro Lestari Tbk. [S]
TRADING ACTIVITIES
Closing Price* and Trading Volume
Astra Agro Lestari Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
Price* January 2013 - January 2017 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
30,000 40.0 Jan-13 20,850 18,750 18,850 10,591 20,796 409,347 21
Feb-13 19,300 18,250 18,450 11,374 33,001 622,045 20
26,250 35.0 Mar-13 19,200 17,850 18,500 15,207 36,954 678,998 19
Apr-13 18,700 17,300 17,700 10,808 21,488 388,219 22
May-13 19,500 16,900 19,500 16,961 35,698 646,786 22
22,500 30.0
Jun-13 21,000 17,800 19,700 17,880 42,231 814,363 19
Jul-13 19,900 15,500 15,550 13,025 21,333 370,322 23
18,750 25.0
Aug-13 19,800 13,100 19,750 19,132 37,761 640,710 17
Sep-13 21,750 18,350 19,500 15,471 52,971 1,097,030 21
15,000 20.0
Oct-13 21,300 18,500 18,600 10,945 21,638 435,579 21
Nov-13 23,400 18,050 22,250 12,858 35,024 759,116 20
11,250 15.0 Dec-13 25,750 22,250 25,100 12,429 28,622 679,065 19
7,500 10.0 Jan-14 25,800 20,650 21,475 44,874 40,059 875,810 20

Feb-14 25,750 21,250 25,500 32,016 37,535 879,827 20
3,750 5.0 Mar-14 27,900 24,400 26,000 42,550 37,625 991,848 20
Apr-14 29,475 25,125 29,400 36,774 29,006 788,587 20
May-14 29,850 26,600 27,325 32,492 30,003 842,728 18
Jun-14 29,350 26,050 28,175 26,838 28,216 770,842 21
Jan-13 Jan-14 Jan-15 Jan-16 Jan-17
Jul-14 28,175 25,600 26,700 36,013 35,895 954,698 18
Aug-14 26,700 25,500 25,500 30,897 41,565 1,087,452 20
Sep-14 26,050 22,775 23,000 36,936 42,691 1,018,059 22
Closing Price*, Jakarta Composite Index (IHSG) and Oct-14 23,500 19,250 23,500 49,512 57,643 1,222,233 23
Agriculture Index Nov-14 25,450 22,775 24,000 32,960 31,250 749,632 20
January 2013 - January 2017 Dec-14 24,550 22,350 24,250 33,746 27,072 634,605 20
60%
Jan-15 26,150 23,150 23,250 27,912 24,553 601,935 21
45% Feb-15 26,500 23,275 24,650 29,712 29,124 726,319 19
Mar-15 26,525 23,150 24,300 26,722 25,084 637,986 22
30% Apr-15 24,300 19,500 20,350 26,871 28,559 638,079 21
May-15 27,525 20,050 24,800 33,350 38,857 974,137 19
21.8%
15% Jun-15 25,850 21,325 22,950 32,679 24,454 576,705 21
Jul-15 26,000 19,675 20,075 30,222 23,184 550,225 19
Aug-15 20,850 14,425 17,125 28,690 22,867 412,376 20
-
Sep-15 18,750 14,800 18,125 36,232 30,935 544,607 21
-8.2%
Oct-15 22,100 18,025 19,900 55,619 53,626 1,054,439 21
-15%
-17.4% Nov-15 21,000 16,950 16,950 32,399 29,531 555,340 21
Dec-15 18,150 15,375 15,850 30,614 24,679 408,397 19
-30%
Jan-16 17,450 15,600 17,075 35,425 32,255 535,544 20

-45% Feb-16 19,550 14,000 14,850 52,893 56,987 949,953 20
Mar-16 18,300 14,800 18,200 49,171 45,802 768,571 21
-60% Apr-16 18,250 15,700 16,100 34,829 29,650 489,398 21
Jan 13 Jan 14 Jan 15 Jan 16 Jan 17 May-16 16,275 13,825 14,150 35,764 71,927 1,044,949 20
Jun-16 16,250 13,775 14,700 50,168 90,733 1,353,438 22
Jul-16 15,700 14,000 14,500 29,563 51,399 759,717 16
SHARES TRADED 2013 2014 2015 2016 Jan-17 Aug-16 17,225 14,400 16,400 49,045 95,902 1,541,221 22
Volume (Million Sh.) 388 439 355 654 34 Sep-16 16,750 14,800 14,825 26,585 38,216 603,103 21
Value (Billion Rp) 7,542 10,816 7,681 10,285 552 Oct-16 16,025 14,600 15,250 28,123 44,008 673,940 21
Frequency (Thou. X) 167 436 391 453 23 Nov-16 17,450 14,450 16,550 39,698 69,435 1,094,629 22
Days 244 242 244 246 21 Dec-16 17,950 16,150 16,775 21,730 27,486 470,914 20
Price (Rupiah) Jan-17 17,200 15,725 15,775 23,077 33,707 551,720 21

High 25,750 29,850 27,525 19,550 17,200
Low 13,100 19,250 14,425 13,775 15,725
Close 25,100 24,250 15,850 16,775 15,775
Close* 23,917 23,107 15,103 16,775 15,775
PER (X) 21.94 15.62 40.32 21.14 19.88

PER Industry (X) 15.46 19.34 -6.37 19.38 19.46
PBV (X) 3.85 3.41 2.13 1.95 1.83
* Adjusted price after corporate action

AALI AstraAgroLestariTbk.[S]
Financial Data and Ratios Book End : December
Public Accountant : Tanudiredja, Wibisana, Rintis & Rekan (Member of PricewaterhouseCoopers Global Network)
BALANCE SHEET Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
(Million Rp except Par Value) Assets Liabilities
Cash & Cash Equivalents 227,769 709,090 611,181 294,441 531,583 25,000
Receivables 50,068 20,554 47,451 88,026 579,126

1,249,050 802,978 1,278,120 1,691,575 2,097,204 20,000
Inventories
Current Assets 1,780,395 1,691,694 2,403,615 2,814,123 4,051,544
15,000
Fixed Assets 4,918,673 6,493,712 8,335,003 9,361,731 10,027,968
Other Assets 150,998 422,305 403,741 324,410 112,216
10,000
Total Assets 12,419,820 14,964,431 18,559,354 21,512,371 24,226,122
Growth (%) 20.49% 24.02% 15.91% 12.61% 5,000
Current Liabilities 2,600,540 3,759,265 4,110,955 3,522,133 3,942,967 -

Long Term Liabilities 453,869 941,812 2,614,621 6,291,451 2,689,673 2012 2013 2014 2015 2016
Total Liabilities 3,054,409 4,701,077 6,725,576 9,813,584 6,632,640
Growth (%) 53.91% 43.06% 45.91% -32.41%
TOTAL EQUITY (Bill. Rp)
Authorized Capital 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 17,593
Paid up Capital 787,373 787,373 787,373 787,373 962,344 17,593
Paid up Capital (Shares) 1,575 1,575 1,575 1,575 1,925

Par Value 500 500 500 500 500 11,834
14,004
11,699
Retained Earnings 8,158,203 9,019,251 10,544,828 10,413,840 12,293,945 10,263
9,365
9,365,411 10,263,354 11,833,778 11,698,787 17,593,482
10,415
Total Equity
Growth (%) 9.59% 15.30% -1.14% 50.39% 6,826
INCOME STATEMENTS Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 3,237
Total Revenues 11,564,319 12,674,999 16,305,831 13,059,216 14,121,374

Growth (%) 9.60% 28.65% -19.91% 8.13%
-352
2012 2013 2014 2015 2016
Cost of Revenues 7,206,837 8,592,003 11,352,975 9,977,118 10,445,360

Gross Profit 4,357,482 4,082,996 4,952,856 3,082,098 3,676,014
TOTAL REVENUES (Bill. Rp)
Expenses (Income) 832,589 1,484,383 1,271,019 1,906,585 1,467,236
Operating Profit - - - - - 16,306
Growth (%)
16,306
14,121
12,675 13,059
12,979
11,564
Other Income (Expenses) - - - - -
Income before Tax 3,524,893 2,598,613 3,681,837 1,175,513 2,208,778 9,653
Tax 1,004,627 694,729 1,059,765 479,829 94,479

Profit for the period 2,520,266 1,903,884 2,622,072 695,684 2,114,299
6,327
Growth (%) -24.46% 37.72% -73.47% 203.92%

3,000
Period Attributable 2,410,259 1,802,193 2,504,467 619,107 2,006,973 -326
Comprehensive Income 2,453,654 1,937,046 2,585,442 689,403 2,179,787 2012 2013 2014 2015 2016
Comprehensive Attributable 2,346,203 1,834,662 2,468,849 612,292 2,070,649
RATIOS Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 PROFIT FOR THE PERIOD (Bill. Rp)
Current Ratio (%) 68.46 45.00 58.47 79.90 102.75
2,622
2,520
Dividend (Rp) 685.00 675.00 960.00 - 99.00 2,622
EPS (Rp) 1,530.57 1,144.43 1,590.40 393.15 1,042.75 2,114

1,904
BV (Rp) 5,947.26 6,517.47 7,514.73 7,429.00 9,140.95 2,087
DAR (X) 0.25 0.31 0.36 0.46 0.27

DER(X) 0.33 0.46 0.57 0.84 0.38
1,552
ROA (%) 20.29 12.72 14.13 3.23 8.73

696
1,017
ROE (%) 26.91 18.55 22.16 5.95 12.02

GPM (%) 37.68 32.21 30.37 23.60 26.03 482
OPM (%) - - - - -
NPM (%) 21.79 15.02 16.08 5.33 14.97
-52
2012 2013 2014 2015 2016

Payout Ratio (%) 44.75 58.98 60.36 - 9.49
Yield (%) 3.48 2.69 3.96 - 0.59

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

PT Adhi Karya (Persero) Tbk was established dated June 3rd , 1974. The company is
managed to show its ability as a leading construction company in Southeast Asia,
through competitiveness and proven experience by running successful construction
projects.ADHIcouldnothaveachievedsuccesswithoutthesupportandparticipation
of the public. ADHI plays an active role in developing CSR programs as well as the
CompanysPartnershipandEnvironmentalPreservationProgram.

In accordance with the LongTerm Business Plan of ADHI 20122016, the Company
plans for corporate activities in five business lines in order to increase the value of
ADHI. Those business lines are Construction, EPC, Property, Realty and Investment in
Infrastructure.InourcorebusinesslinesofconstructionandEPCservices,ourbusiness
development strategy is focused on continuously enhancing our professionalism
through quality products and timely deliveries. Here, the role of ALC (ADHI Learning
Center)comesintotheforefront.ALChasbeeninoperationsformorethanayear,and
its benefits are already felt. Through ALC, ADHI personnel are equipped with the
passiontoexcel,andtoalwaysstriveforqualitybyworkingintelligentlyandefficiently.
With such passion, we form another subsidiary entity specialize in building
constructionAdhiPersadaGedung(APG).

In addition to the Construction and EPC businesses, the Company has operated and
profited from the Property and Realty businesses through two subsidiary entities,
namelyAdhiPersadaProperti(APP)andAdhiPersadaRealti(APR).Expandingfromthe
Propertybusinessbase,theCompanyhasalsomadeplanstodevelopfourstarhotels
inBlokMareaJakarta,andSurabaya;andthreestarhotelsinBekasiandMedan.This
move is designed to strengthen our Property business structure in the future, in
additiontoreapthebenefitofrecurringincome.Meanwhile,intheRealtybusiness,we
are adopting a strategy of not only developing landed houses, but also managing
commercialareas(malls,lifestylecentersandshoppingcomplexes)alsowiththeaimof
strengthening our recurring income. From the point of view of market demand, the
need for precast concrete has grown significantly in support of major infrastructure
projects. Modern project management also requires applications in precast concrete
technologythatcanenhanceprojectexecutions,whetherintheformofconcretepiles
or other products. In order to manage the business professionally, independent, and
fast emerging, the Company plan to establish a new subsidiary namely Adhi Persada
Beton(APB).

As of December 31st, 2016, the Company and subsidiaries had 1,347 permanent
employees.
February 2017
Disclaimer:

ADHI AdhiKarya(Persero)Tbk.[S]
Industry Sector : Property, Real Estate And Building Construction (6) Listed Shares : 3,560,849,376
Industry Sub Sector : Building Construction (62) Market Capitalization : 7,477,783,689,600
112 | 7.48T | 0.13% | 87.33%
30 | 14.1T | 0.76% | 65.40%

Established Date : 11-Mar-1960 1. Negara Republik Indonesia 1,816,046,624 : 51.00%
Listing Date : 18-Mar-2004 2. Public (<5%) 1,744,802,752 : 49.00%
Under Writer IPO :
PT Ciptadana Sekuritas DIVIDEND ANNOUNCEMENT
F/I
PT Datindo Entrycom Year Shares Dividend Cum Date Ex Date Date Date
Wisma Sudirman - Puri Datindo 2003 12.30 07-Jul-04 08-Jul-04 12-Jul-04 23-Jul-04 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2005 19.56 17-Jun-05 20-Jun-05 22-Jun-05 06-Jul-05
Phone : (021) 570-9009 2005 12.98 20-Jul-06 21-Jul-06 25-Jul-06 08-Aug-06 F
Fax : (021) 570-9026 2006 10.61 17-Jul-07 18-Jul-07 20-Jul-07 03-Aug-07 F
2008 11.51 02-Jul-09 03-Jul-09 07-Jul-09 22-Jul-09 F
BOARD OF COMMISSIONERS 2009 28.26 30-Jun-10 01-Jul-10 05-Jul-10 19-Jul-10 F
1. M. Fadjroel Rachman 2010 32.35 04-Jul-11 05-Jul-11 07-Jul-11 20-Jul-11 F
2. Hironimus Hilapok *) 2011 30.33 05-Jun-12 06-Jun-12 08-Jun-12 22-Jun-12 F
3. Muchlis R. Luddin *) 2012 23.49 13-May-13 14-May-13 16-May-13 29-May-13 F
4. Bobby Aa. Nazief 2013 67.61 04-Apr-14 07-Apr-14 10-Apr-14 25-Apr-14 F
5. Rildo Ananda Anwar 2014 35.98 27-Mar-15 30-Mar-15 01-Apr-15 22-Apr-15 I
6. Wicipto Setiadi 2015 26.23 15-Apr-16 18-Apr-16 20-Apr-16 12-May-16 F
*) Independent Commissioners
ISSUED HISTORY
BOARD OF DIRECTORS Listing Trading
1. Budi Harto No. Type of Listing Shares Date Date
2. BEP Adji Satmoko 1. First Issue 397,188,000 18-Mar-04 18-Mar-04
3. Budi Sadewa Soediro 2. Company Listing 918,680,000 18-Mar-04 18-Mar-04
4. Djoko Prabowo 3. Employee Management Buy Out (EMBO) 441,320,000 18-Mar-04 03-Jul-06
5. Haris Gunawan 4. Employee Stock Allocation (ESA) 44,132,000 18-Mar-04 26-Jun-04
6. Pundjung Setya Brata 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
AUDIT COMMITTEE 7. Right Issue I 90,316,424 15-Oct-15 15-Oct-15
1. Murhadi 8. Right Issue I 313,084,300 16-Oct-15 16-Oct-15
2. Salim Siagian 9. Right Issue I 169,499,395 19-Oct-15 19-Oct-15
3. Syaiful 10. Right Issue I 30,081,685 21-Oct-15 21-Oct-15
CORPORATE SECRETARY
Ki Syahgolang Permata
HEAD OFFICE
Jln. Raya Pasar Minggu Km.18
Jakarta - 12510
Phone : (021) 797-5312
Fax : (021) 797-5311
Homepage : www.adhi.co.id
Email : kiki@adhi.co.id

TRADING ACTIVITIES
Adhi Karya (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
3,400 240 Jan-13 2,150 1,730 2,000 25,820 386,992 740,424 21
Feb-13 2,650 1,990 2,575 17,280 317,854 723,135 20
2,975 210 Mar-13 3,175 2,400 3,100 17,226 224,360 635,962 19
Apr-13 3,175 2,700 2,975 19,520 242,917 711,019 22
May-13 3,925 2,950 3,900 22,507 284,753 931,777 22
2,550 180
Jun-13 4,000 3,100 3,325 27,380 298,365 1,054,227 19
Jul-13 3,375 2,400 3,075 26,992 292,062 856,830 23
2,125 150
Aug-13 3,200 1,690 1,980 22,891 227,303 516,385 17
Sep-13 2,275 1,510 2,025 71,392 1,395,702 2,639,571 21
1,700 120
Oct-13 2,150 1,830 1,950 44,551 759,652 1,504,721 21
Nov-13 1,970 1,570 1,600 22,975 298,528 524,666 20
1,275 90 Dec-13 1,780 1,460 1,510 22,832 383,774 633,407 19
850 60 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
425 30 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
Jun-14 3,150 2,620 2,785 45,534 320,944 925,441 21
Jul-14 3,420 2,725 3,110 77,411 678,458 2,147,006 18
Aug-14 3,230 3,025 3,070 40,426 298,984 938,382 20
Sep-14 3,160 2,740 2,765 30,838 165,105 494,676 22
Property, Real Estate and Bulding Construction Index Nov-14 2,810 2,435 2,780 56,416 568,723 1,501,669 20
January 2013 - January 2017 Dec-14 3,625 2,780 3,480 81,342 933,533 2,875,053 20
140%
Jan-15 3,780 3,320 3,695 64,117 576,447 2,067,005 21
120% Feb-15 3,870 3,330 3,440 64,269 520,481 1,843,502 19
Mar-15 3,475 2,990 3,055 49,578 297,973 949,746 22
100% 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
80% Jun-15 2,540 1,910 2,020 59,436 343,741 745,375 21
Jul-15 2,795 2,010 2,300 89,892 672,513 1,613,341 19
Aug-15 2,340 1,665 1,995 70,761 366,814 731,984 20
60% 59.7%
Sep-15 2,340 1,855 2,250 85,168 525,345 1,119,272 21
Oct-15 2,410 1,850 2,230 102,153 1,201,936 2,604,099 21
40% 40.6%
Nov-15 2,345 2,105 2,200 55,399 540,360 1,214,604 21
Dec-15 2,270 2,040 2,140 34,926 317,411 683,169 19
20% 21.8%
Jan-16 2,580 2,070 2,550 70,823 856,813 2,027,511 20

- 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
-20% Apr-16 2,910 2,645 2,675 49,750 562,525 1,558,604 21
Jan 13 Jan 14 Jan 15 Jan 16 Jan 17 May-16 2,710 2,420 2,570 44,806 371,638 945,245 20
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
Volume (Million Sh.) 5,112 6,662 5,887 6,076 372 Sep-16 2,730 2,310 2,360 58,883 449,387 1,124,446 21
Frequency (Thou. X) 341 667 767 617 38 Nov-16 2,270 1,830 1,910 42,844 338,379 692,729 22
Days 244 242 244 246 21 Dec-16 2,280 1,855 2,080 64,378 622,275 1,295,451 20
Price (Rupiah) Jan-17 2,260 2,030 2,100 38,049 371,611 802,129 21

High 4,000 3,625 3,870 2,910 2,260
Low 1,460 1,425 1,665 1,830 2,030
Close 1,510 3,480 2,140 2,080 2,100
Close* 1,281 2,953 2,140 2,080 2,100
PER (X) 6.70 46.54 16.43 48.23 48.69

PER Industry (X) 9.57 16.29 13.36 24.89 28.26
PBV (X) 1.76 4.10 1.48 1.43 1.44

Public Accountant : Hertanto, Grace, Karunawan (Member of TIAG International)
Cash & Cash Equivalents 948,846 1,939,960 811,412 4,317,348 3,364,910 21,250
Receivables 2,332,098 2,705,085 3,214,051 3,311,392 1,596,824

17,000
Inventories 116,552 161,560 132,014 162,651 131,016

12,750
Investment 62,804 60,034 45,250 399,640 336,214
Fixed Assets 187,437 271,257 496,096 1,099,427 1,459,816
8,500
Other Assets 34,248 65,081 27,893 186,808 334,751
Total Assets 7,872,074 9,720,962 10,458,882 16,761,064 20,095,436 4,250
Growth (%) 23.49% 7.59% 60.26% 19.89%
-
Trade Payable 4,276,690 4,767,420 4,923,213 6,489,310 8,372,701 2012 2013 2014 2015 2016
Growth (%) 22.14% 6.54% 33.21% 26.33%
Minority Interest - - - - - 5,443
544,000 544,000 544,000 544,000 544,000 5,162
Authorized Capital 5,443
Paid up Capital 180,132 180,132 180,132 356,085 356,085

4,332
Par Value 100 100 100 100 100

943,642 1,307,301 1,509,579 1,789,885 1,997,137
3,222
Retained Earnings
Total Equity 1,180,919 1,548,463 1,751,543 5,162,132 5,442,780 1,752
1,548
2,112
Growth (%) 31.12% 13.11% 194.72% 5.44% 1,181

1,001
INCOME STATEMENTS Dec-12 Dec-13 Dec-14 Dec-15 Dec-16

Total Revenues 7,627,703 9,799,598 8,653,578 9,389,570 11,063,943
-109
2012 2013 2014 2015 2016

Growth (%) 28.47% -11.69% 8.51% 17.83%
Cost of Revenues 6,671,815 8,606,444 7,655,377 8,414,926 9,948,797

Gross Profit 1,043,220 1,247,711 998,202 974,644 1,184,570
Operating Expenses 531,378 425,009 273,318 123,915 455,979 11,064
- - 724,884 850,730 728,591 9,800

11,064
Operating Profit 9,390

8,654
Growth (%) 17.36% -14.36%
7,628
8,807
Other Income (Expenses) -88,526 -108,337 -125,327 -104,639 -115,969 6,550
Income before Tax 423,315 714,365 599,557 746,091 612,622

Tax 209,998 305,927 267,896 281,066 297,515
4,293
Profit for the period 213,318 408,438 331,661 465,026 315,108

Growth (%) 91.47% -18.80% 40.21% -32.24%
2,036
-221
Period Attributable 211,590 405,977 329,075 463,685 313,451 2012 2013 2014 2015 2016
Comprehensive Income 213,651 409,862 304,311 878,754 404,657
Comprehensive Attributable 211,924 407,401 301,726 877,408 403,000
PROFIT FOR THE PERIOD (Bill. Rp)
RATIOS Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 465
Dividend (Rp) 23.49 67.61 35.98 26.23 -
408
EPS (Rp) 118.42 226.74 184.12 130.59 88.49
BV (Rp) 655.59 859.63 972.37 1,449.69 1,528.51 332
315
370
DAR (X) 0.85 0.84 0.83 0.69 0.73

DER(X) 5.67 5.28 4.97 2.25 2.69
275
213
ROA (%) 2.71 4.20 3.17 2.77 1.57 180
ROE (%) 18.06 26.38 18.94 9.01 5.79

GPM (%) 13.68 12.73 11.54 10.38 10.71 86
OPM (%) - - 8.38 9.06 6.59

NPM (%) 2.80 4.17 3.83 4.95 2.85
-9
2012 2013 2014 2015 2016

Payout Ratio (%) 19.84 29.82 19.54 20.08 -
Yield (%) 1.13 3.25 1.73 1.26 -

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

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

PT Adaro Energy Tbk. is a vertically integrated group; in addition to its core mining
subsidiary Adaro Indonesia, it owns subsidiaries along the length of its coal supply chain
frompittoporttopower,includinginmining,barging,shiploading,dredging,portservices,
marketingandpowergeneration.

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

AsDecember31st,2016,theGrouphad7,923permanentemployees.
February 2017
Disclaimer:
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being those of the
publisher or of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the
publication it should not be by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or
otherwise responsible in anyway for any advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.

ADRO Adaro Energy Tbk. [S]
Main Board Individual Index : 154.091
Industry Sector : Mining (2) Listed Shares : 31,985,962,000
Industry Sub Sector : Coal Mining (21) Market Capitalization : 54,216,205,590,000
18 | 54.2T | 0.94% | 56.25%
25 | 16.3T | 0.88% | 61.49%

Established Date : 28-Jul-2004 1. PT Adaro Strategic Investments 14,045,425,500 : 43.91%
Listing Date : 16-Jul-2008 2. Garibaldi Thohir 1,976,632,654 : 6.18%
Under Writer IPO : 3. Public (<5%) 15,963,903,846 : 49.91%
PT Danatama Makmur
Securities Administration Bureau : DIVIDEND ANNOUNCEMENT
PT Ficomindo Buana Registrar Bonus Cash Recording Payment
F/I
Mayapada Tower 10th Fl. Suite 02 B, Jln. Jend. Sudirman Kav. 28, Year Shares Dividend Cum Date Ex Date Date Date
Karet - Setiabudi, Jakarta 12920 2008 11.80 25-Aug-09 26-Aug-09 28-Aug-09 11-Sep-09 F
Phone : (021) 521-2316, 2317 2009 12.00 11-Dec-09 14-Dec-09 16-Dec-09 30-Dec-09 I
Fax : (021) 521-2320 2009 17.00 02-Jun-10 03-Jun-10 07-Jun-10 18-Jun-10 F
2010 9.85 26-Nov-10 29-Nov-10 01-Dec-10 10-Dec-10 I
BOARD OF COMMISSIONERS 2010 20.50 27-May-11 30-May-11 01-Jun-11 09-Jun-11 F
1. Edwin Soeryadjaya 2011 21.35 28-Nov-11 29-Nov-11 01-Dec-11 09-Dec-11 I
2. Theodore Permadi Rachmat 2011 53.66 29-May-12 30-May-12 01-Jun-12 12-Jun-12 F
3. Palgunadi Tatit Setyawan 2012 12.13 29-May-12 30-May-12 01-Jun-12 12-Jun-12 I
4. Subianto 2012 10.65 26-Dec-12 27-Dec-12 02-Jan-13 15-Jan-13 I
5. Raden Pardede 2012 12.36 29-May-13 30-May-13 03-Jun-13 12-Jun-13 F
*) Independent Commissioners 2013 15.30 24-Dec-13 27-Dec-13 02-Jan-14 16-Jan-14 I
2013 13.47 26-May-14 28-May-14 02-Jun-14 12-Jun-14 F
BOARD OF DIRECTORS 2014 11.73 24-Dec-14 29-Dec-14 02-Jan-15 16-Jan-15 I
1. Garibaldi Thohir 2014 18.52 30-Apr-15 04-May-15 06-May-15 27-May-15 F
2. Christian Ariano Rachmat 2015 15.29 28-Dec-15 29-Dec-15 04-Jan-16 15-Jan-16 I
3. David Tendian 2015 17.51 25-Apr-16 26-Apr-16 28-Apr-16 20-May-16 F
4. Chia Ah Hoo 2016 25.62 28-Dec-16 29-Dec-16 03-Jan-17 13-Jan-17 I
5. M. Syah Indra Aman
6. Julius Aslan ISSUED HISTORY
7. Siswanto Prawiroatmodjo Listing Trading
No. Type of Listing Shares Date Date
AUDIT COMMITTEE 1. First Issue 11,139,331,000 16-Jul-08 16-Jul-08
1. Palgunadi Tatit Setyawan 2. Company Listing 20,846,631,000 16-Jul-08 16-Apr-09
2. Irwandy Arif
3. Mamat Ma'mun
CORPORATE SECRETARY
Mahardika Putranto
HEAD OFFICE
Menara Karya 22nd Fl.
Jln. H.R. Rasuna Said, Blok X-5, Kav. 1 - 2
Jakarta - 12950
Phone : (021) 2553-3000
Fax : (021) 2559-3083
Homepage : www.adaro.com
Email : mahardika.putranto@ptadaro.com

TRADING ACTIVITIES
Adaro Energy Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
1,800 480 Jan-13 1,770 1,590 1,650 35,702 693,704 1,175,414 21
Feb-13 1,680 1,550 1,570 29,234 578,305 922,195 20
1,575 420 Mar-13 1,580 1,250 1,310 34,568 1,179,303 1,701,990 19
Apr-13 1,370 1,190 1,230 28,764 699,841 898,296 22
May-13 1,240 920 930 40,369 1,088,707 1,179,144 22
1,350 360
Jun-13 930 750 860 46,114 1,004,249 849,300 19
Jul-13 860 670 700 38,801 1,288,624 930,027 23
1,125 300
Aug-13 940 640 930 42,185 1,653,523 1,307,578 17
Sep-13 1,030 870 900 45,303 1,566,310 1,494,923 21
900 240
Oct-13 1,130 890 1,020 42,712 1,230,844 1,250,459 21
Nov-13 1,240 1,010 1,130 49,717 1,820,926 2,085,692 20
675 180 Dec-13 1,250 1,040 1,090 35,467 1,059,797 1,223,837 19
450 120 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
225 60 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
Jun-14 1,340 1,130 1,175 59,842 1,173,729 1,460,502 21
Jul-14 1,210 1,080 1,185 58,308 1,079,081 1,241,003 18
Aug-14 1,350 1,170 1,315 67,428 1,186,836 1,515,182 20
Sep-14 1,390 1,150 1,175 58,209 927,416 1,196,582 22
Closing Price*, Jakarta Composite Index (IHSG) and Oct-14 1,185 920 1,135 87,590 1,641,955 1,706,381 23
Mining Index Nov-14 1,150 980 1,080 55,494 1,174,713 1,247,984 20
January 2013 - January 2017 Dec-14 1,145 995 1,040 47,125 1,050,501 1,123,969 20
45%
Jan-15 1,050 925 1,000 70,943 1,137,115 1,117,884 21
30% Feb-15 1,025 940 960 53,979 1,400,629 1,385,742 19
21.8% Mar-15 1,035 935 950 61,722 1,137,398 1,117,337 22
15% 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
-2.6% 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
-15%
Sep-15 630 510 535 44,300 786,360 457,284 21
Oct-15 710 515 595 72,138 1,316,804 825,705 21
-30% -28.4%
Nov-15 660 525 550 40,268 801,156 481,184 21
Dec-15 560 441 515 41,140 771,262 409,713 19
-45%
Jan-16 540 437 525 49,972 717,704 348,594 20

-60% 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
-75% Apr-16 770 645 730 62,752 1,311,115 936,423 21
Jan 13 Jan 14 Jan 15 Jan 16 Jan 17 May-16 730 655 710 42,427 699,543 490,135 20
Jun-16 945 705 850 85,576 2,086,354 1,771,262 22
Jul-16 1,090 860 1,040 57,749 1,195,084 1,207,282 16
SHARES TRADED 2013 2014 2015 2016 Jan-17 Aug-16 1,200 1,015 1,150 92,405 1,438,700 1,627,227 22
Volume (Million Sh.) 13,864 15,254 11,977 15,197 531 Sep-16 1,290 1,105 1,205 82,920 1,003,718 1,206,185 21
Value (Billion Rp) 15,019 16,751 9,198 15,784 912 Oct-16 1,605 1,250 1,585 93,165 1,240,670 1,799,252 21
Frequency (Thou. X) 469 730 647 916 73 Nov-16 1,735 1,465 1,530 142,999 1,757,498 2,829,944 22
Days 244 242 244 246 21 Dec-16 1,770 1,580 1,695 78,919 1,195,610 1,863,543 20
Price (Rupiah) Jan-17 1,760 1,655 1,695 73,011 531,367 911,947 21

High 1,770 1,390 1,050 1,770 1,760
Low 640 870 441 437 1,655
Close 1,090 1,040 515 1,695 1,695
Close* 1,090 1,040 515 1,695 1,695
PER (X) 12.29 9.27 7.83 14.96 14.96

PER Industry (X) 20.76 3.23 0.60 -4.41 -2.64
PBV (X) 0.89 0.81 0.36 1.18 1.18

Cash & Cash Equivalents 4,838,559 8,354,692 9,267,904 9,689,623 14,469,873 100,000
Receivables 4,692,058 3,822,657 3,571,196 2,732,288 4,099,162

623,589 1,260,706 1,203,096 1,004,079 986,431 80,000
Inventories
Current Assets 13,672,171 16,820,685 15,814,016 15,070,207 21,399,719
60,000
Fixed Assets 17,106,385 20,930,154 20,104,075 20,237,329 20,747,697
Other Assets 96,226 248,811 268,605 359,651 352,265
40,000
Total Assets 64,714,116 82,623,566 79,762,813 82,193,328 87,633,045
Growth (%) 27.67% -3.46% 3.05% 6.62% 20,000

Long Term Liabilities 27,056,457 33,927,838 29,595,155 29,672,453 28,105,694 2012 2013 2014 2015 2016
Growth (%) 21.45% -9.66% -8.38% 2.29%
Paid up Capital 3,198,596 3,198,596 3,198,596 3,198,596 3,198,596 50,867
46,252
Paid up Capital (Shares) 31,986 31,986 31,986 31,986 31,986 39,203 40,535
Par Value 100 100 100 100 100
40,490

30,113
Total Equity 28,962,172 39,202,687 40,534,794 46,251,875 50,867,111

Growth (%) 35.36% 3.40% 14.10% 9.98% 19,736
Total Revenues 35,996,469 40,308,692 41,355,222 37,029,662 33,915,675

Growth (%) 11.98% 2.60% -10.46% -8.41%
-1,017
2012 2013 2014 2015 2016
Cost of Revenues 25,914,314 31,238,880 32,404,572 29,535,382 24,708,307

Gross Profit 10,082,155 9,069,812 8,950,649 7,494,280 9,207,368
Expenses (Income) 1,994,321 2,514,135 2,859,099 2,916,314 1,312,133
Operating Profit 8,087,833 6,555,677 6,091,551 4,577,967 7,895,235 40,309 41,355
37,030
-18.94% -7.08% -24.85% 72.46%
41,355
Growth (%) 35,996

33,916
32,919
Other Income (Expenses) -1,186,122 -1,411,062 -2,091,648 -716,019 -552,193

Tax 3,195,132 2,331,558 1,721,080 1,779,012 2,765,586

Profit for the period 3,706,579 2,813,057 2,278,822 2,082,935 4,577,457 16,046
Growth (%) -24.11% -18.99% -8.60% 119.76%

7,609
Period Attributable 3,726,305 2,837,204 2,212,327 2,102,757 4,495,968 -827
Comprehensive Income 3,691,474 2,765,793 1,845,565 2,433,220 5,129,462 2012 2013 2014 2015 2016
Comprehensive Attributable 3,711,201 2,774,247 1,811,888 2,467,512 5,031,916
Current Ratio (%) 157.23 177.19 164.17 240.39 247.10
4,577
Dividend (Rp) 35.15 28.77 30.24 32.80 25.62 4,577
EPS (Rp) 116.50 88.70 69.17 65.74 140.56 3,707

BV (Rp) 905.47 1,225.62 1,267.27 1,446.01 1,590.29 3,644
2,813
DAR (X) 0.55 0.53 0.49 0.44 0.42
2,279
1.23 1.11 0.97 0.78 0.72
2,710
DER(X) 2,083
ROA (%) 5.73 3.40 2.86 2.53 5.22 1,776
ROE (%) 12.80 7.18 5.62 4.50 9.00

GPM (%) 28.01 22.50 21.64 20.24 27.15 842
OPM (%) 22.47 16.26 14.73 12.36 23.28

NPM (%) 10.30 6.98 5.51 5.63 13.50
-92
2012 2013 2014 2015 2016

Payout Ratio (%) 30.17 32.43 43.72 49.89 18.23
Yield (%) 2.21 2.64 2.91 6.37 1.51

COMPANY REPORT
AKRA
AKR CORPORINDO TBK.
Company Profile
PTAKRCorporindoTbk.wasestablisheddatedNovember28th,1977.TheCompanysscope
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
operationsofpipeforseatransportationinfrastructure),rentalofwarehousesandstorage
tanks,includingworkshop,expeditionandpackaging,conductingabusinessandactingasa
representative and/or an agent, with distributorship agreements with foreign and local
entities,contractorsandotherservicesexceptlegalservices.

TheCompanyiscurrentlyengagedinthedistributionofpetroleumproductstoindustrial
customers, distribution and trading of chemical products (such as caustic soda, sodium
sulphate, PVC resin and soda ash) used by various industries in Indonesia in accordance
with distributorship agreements with foreign and local manufacturers, rental of
warehouses,transportationvehicles,tanksandotherlogisticservices.

TheCompanystarteditscommercialoperationsinJune1978.

The Company is domiciled at Wisma AKR, 8th Floor, JIn. Panjang No. 5, Kebon Jeruk,
Jakarta.ItsmajorbranchofficeislocatedatJIn.SumatraNo.5153,Surabaya.Othersales
offices also the tank terminals are located in Medan, Palembang, Lampung, Ciwandan
(Banten), Bandung, Semarang, Pontianak, Balikpapan, Banjarmasin, Stagen (South
Kalimantan),Makassar,ManadoandBali.TheCompanyalsohasarepresentativeofficein
Guigang,China.

employees.
February 2017
Disclaimer:

AKRA AKRCorporindoTbk.[S]
Industry Sector : Trade, Services & Investment (9) Listed Shares : 3,991,781,170
Industry Sub Sector : Wholesale (Durable & Non-Durable Goods) (91) Market Capitalization : 26,645,139,309,750
36 | 26.6T | 0.46% | 67.88%
38 | 10.6T | 0.57% | 70.45%

Established Date : 28-Nov-1977 1. PT Arthakencana Rayatama 2,338,456,120 : 58.58%
Listing Date : 03-Oct-1994 2. Public (<5%) 1,653,325,050 : 41.42%
Under Writer IPO :
PT Lippo Securities DIVIDEND ANNOUNCEMENT
F/I
Plaza Central Building 2nd Fl. 1994 50.00 11-Jul-95 12-Jul-95 20-Jul-95 11-Aug-95 F
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1995 230.00 From 30-Jan-95 Until 11-Jul-96 F
Phone : (021) 252-5666 1995 10 : 6 26-Feb-96 27-Feb-96 06-Mar-96 29-Mar-96 B
Fax : (021) 252-5028 1996 50.00 23-Jun-97 24-Jun-97 01-Aug-97 26-Aug-97 F
2002 25.00 03-Sep-03 04-Sep-03 08-Sep-03 19-Sep-03 F
BOARD OF COMMISSIONERS 2003 50.00 28-Jun-04 29-Jun-04 01-Jul-04 14-Jul-04 F
1. Soegiarto Adikoesoemo 2005 100.00 From 03-May-05 Until 19-Sep-06 F
2. I Nyoman Mastra *) 2006 65.00 27-Jun-07 28-Jun-07 02-Jul-07 16-Jul-07 F
3. Mahendra Siregar 2007 19.00 03-Jun-08 04-Jun-08 06-Jun-08 16-Jun-08 F
*) Independent Commissioners 2008 21.00 09-Jun-09 10-Jun-09 12-Jun-09 19-Jun-09 F
2009 25.00 25-May-10 26-May-10 31-May-10 14-Jun-10 F
BOARD OF DIRECTORS 2010 167.00 From 09-Dec-10 Until 20-Jun-11 F
1. Haryanto Adikoesoemo 2011 225.00 From 08-Sep-11 Until 25-Jun-12 F
2. Ter Murti Tiban 2012 105.00 From 16-Jan-13 Until 20-Jun-13 F
3. Suresh Vembu 2013 115.00 From 04-Oct-13 Until 24-Jun-14 F
4. Nery Polim 2014 130.00 From 26-Sep-14 Until 29-May-15 F
5. Mery Sofi 2015 190.00 From 21-Aug-15 Until 25-May-16 F
6. Arief Budiman Utomo 2016 70.00 02-Aug-16 03-Aug-16 05-Aug-16 25-Aug-16 I
7. Bambang Soetiono Soedijanto
8. Jimmy Tandyo ISSUED HISTORY
Listing Trading
AUDIT COMMITTEE No. Type of Listing Shares Date Date
1. I Nyoman Mastra 1. First Issue 15,000,000 03-Oct-94 03-Oct-94
2. Edwin Gerungan 2. Company Listing 50,000,000 T: 03-Oct-94 : 06-May-95
3. Sahat Pardede 3. Bonus Shares 39,000,000 01-Apr-96 01-Apr-96
4. Stock Split 2,600,000,000 T: 30-Sep-96 : 27-Jul-07
CORPORATE SECRETARY 5. Right Issue 1,043,658,500 T: 20-Dec-04 : 16-Feb-10
Harryati Utami 6. OPSI Conversion 18,292,500 T: 11-Apr-08 : 15-Oct-09
7. Opsi MSOP Conversion I, II & III 26,537,500 T: 09-Apr-10 : 13-Oct-10
HEAD OFFICE 8. Opsi MSOP Conversion I & III 447,500 T: 12-Apr-10 : 15-Apr-10
Wisma AKR 7th - 8th Fl. 9. Opsi MSOP Conversion II, III & IV 28,607,500 T: 13-Apr-11 : 14-Apr-11
Jln. Panjang No. 5, Kebon Jeruk 10. Opsi MSOP Conversion II, III, IV 432,500 12-Oct-11 12-Oct-11
Jakarta 11. Opsi MSOP Conversion IV 195,000 T: 13-Oct-11 : 12-Apr-13
Phone : (021) 531-1110 12. Opsi MSOP Conversion III, IV, V 28,907,500 09-Apr-12 09-Apr-12
Fax : (021) 531-1185, 531-1388, 531-1128 13. Opsi MSOP Conversion III 550,000 10-Apr-12 10-Apr-12
14. Opsi MSOP Conversion IV, V 29,099,000 T: 09-Apr-13 : 10-Apr-13
Homepage : www.akr.co.id 15. MSOP V (2011) 3, I (2012) 2, I (2013) 1 22,714,000 T: 04-Apr-14 : 11-Apr-14
Email : harryati.utami@akr.co.id 16. MSOP V (2011) 3, I (2012) 2, II (2013) 1 9,996,174 07-Oct-14 07-Oct-14
tami@akr.co.id 17. MSOP I (2012) 2, II (2013) 1 200,000 09-Oct-14 09-Oct-14
18. MSOP I (2012) 3, MSOP II (2013) 2 20,525,500 T: 06-Apr-15 : 07-Apr-15
19. MSOP I (2012) 3, II (2013) 2, 2014 5,549,400 T: 08-Apr-15 : 10-Apr-15
20. MSOP Tahap I Tahun 2012 Vesting 3 3,735,000 05-Oct-15 05-Oct-15
21. MSOP Tahap II Tahun 2013 Vesting 2 3,546,261 T: 05-Oct-15 : 08-Oct-15
22. MSOP Tahun 2014 Vesting 1 2,036,400 T: 07-Oct-15 : 12-Oct-15
23. MSOP Tahun 2014 Vesting 2 14,647,500 08-Apr-16 08-Apr-16
24. MSOP II 2013 V3, 2014 V2, 2015 V1 26,207,435 11-Apr-16 11-Apr-16
25. MSOP II 2013 V3, 2014 V2, 2015 V1 342,000 13-Apr-16 13-Apr-16
26. MSOP Tahun 2015 Vesting 1 1,554,000 T: 11-Oct-16 : 12-Oct-16

TRADING ACTIVITIES
AKR Corporindo Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
10,000 160 Jan-13 4,200 3,775 3,875 23,466 315,427 1,245,106 21
Feb-13 4,500 3,825 4,475 19,230 218,111 902,451 20
8,750 140 Mar-13 5,550 4,425 5,000 14,741 189,877 947,949 19
Apr-13 5,350 4,850 5,150 17,228 166,257 851,310 22
May-13 5,500 4,850 5,350 19,669 183,716 958,295 22
7,500 120
Jun-13 6,100 4,625 5,300 31,480 288,147 1,525,542 19
Jul-13 5,450 4,325 4,325 26,256 227,366 1,090,451 23
6,250 100
Aug-13 4,950 3,475 3,975 22,430 245,307 1,040,139 17
Sep-13 4,650 3,500 4,000 22,308 275,681 1,093,424 21
5,000 80
Oct-13 5,350 4,000 4,850 19,727 193,237 914,203 21
Nov-13 5,050 4,425 4,675 19,926 204,324 972,950 20
3,750 60 Dec-13 4,975 4,350 4,375 14,061 129,874 616,656 19
2,500 40 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
1,250 20 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
Jun-14 4,640 4,175 4,330 26,447 178,895 790,700 21
Jul-14 4,750 4,255 4,400 26,710 188,850 855,524 18
Aug-14 5,375 4,400 5,250 25,846 165,098 786,913 20
Sep-14 5,825 5,050 5,450 28,569 160,850 853,493 22
Closing Price*, Jakarta Composite Index (IHSG) and Oct-14 5,475 4,700 4,925 29,475 160,511 796,156 23
Trade, Sevices and Investment Index Nov-14 4,950 4,540 4,650 30,471 192,944 900,889 20
105%
Jan-15 4,750 4,110 4,695 50,776 274,374 1,245,406 21
90% Feb-15 4,920 4,565 4,870 27,389 161,693 768,346 19
Mar-15 5,200 4,800 5,125 24,742 198,686 999,074 22
75% 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
60% 61.8% 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
45%
Sep-15 6,075 5,500 5,850 45,702 175,509 1,012,181 21
Oct-15 6,225 5,600 5,900 68,112 205,663 1,197,809 21
30%
Nov-15 6,200 5,775 6,100 70,486 339,847 2,046,075 21
21.8% Dec-15 7,300 6,075 7,175 45,178 156,416 1,055,458 19
15% 14.7%
Jan-16 7,900 6,700 7,350 51,362 203,633 1,469,733 20
- 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
-15% Apr-16 7,100 6,350 6,500 52,211 183,729 1,240,587 21
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
SHARES TRADED 2013 2014 2015 2016 Jan-17 Aug-16 7,100 6,550 6,675 43,220 142,869 969,694 22
Volume (Million Sh.) 2,637 2,141 2,316 1,705 88 Sep-16 6,950 6,200 6,450 30,439 95,807 637,583 21
Days 244 242 244 246 21 Dec-16 6,775 5,400 6,000 44,065 95,054 587,752 20
Price (Rupiah) Jan-17 6,875 5,650 6,675 29,072 87,885 552,709 21

High 6,100 5,825 7,300 8,450 6,875
Low 3,475 3,950 4,110 5,400 5,650
Close 4,375 4,120 7,175 6,000 6,675
Close* 4,375 4,120 7,175 6,000 6,675
PER (X) 26.19 20.90 27.41 22.65 25.19

PER Industry (X) 15.42 22.13 14.53 19.07 17.53
PBV (X) 3.17 2.84 3.89 3.06 3.40

Public Accountant : Purwantono, Sungkoro & Surja (Member of Ernst & Young Global Limited)
Cash & Cash Equivalents 1,884,943 820,065 896,591 1,289,809 1,366,943 16,250
Receivables 3,224,397 4,351,773 4,350,615 3,093,357 2,600,467

1,415,169 1,823,246 934,877 2,598,793 862,466 13,000
Inventories
Current Assets 7,414,601 7,723,315 6,719,745 7,285,599 7,391,379
9,750
Fixed Assets 3,177,350 4,226,692 4,390,207 4,469,498 4,561,738
Other Assets 24,372 20,218 21,220 40,963 47,249
6,500
Total Assets 11,787,525 14,633,141 14,791,917 15,203,130 15,830,741
Growth (%) 24.14% 1.09% 2.78% 4.13% 3,250

Growth (%) 22.33% -4.74% -10.35% -2.03%
Authorized Capital 750,000 750,000 750,000 750,000 750,000 8,074
Paid up Capital 385,144 388,073 391,364 393,971 399,178 8,074
7,286
5,961
Par Value 100 100 100 100 100
6,427
5,363
Retained Earnings 2,931,851 3,289,047 3,845,417 4,375,360 5,028,694
4,210
4,209,740 5,363,161 5,961,183 7,286,175 8,074,320
4,780
Total Equity
Growth (%) 27.40% 11.15% 22.23% 10.82% 3,133
Total Revenues 21,673,954 22,337,928 22,468,328 19,764,821 15,212,591

Growth (%) 3.06% 0.58% -12.03% -23.03%
-161
2012 2013 2014 2015 2016
Cost of Revenues 20,412,678 20,970,288 20,736,407 17,548,827 13,337,659

Gross Profit 1,261,276 1,367,641 1,731,920 2,215,994 1,874,932
Expenses (Income) 430,920 600,059 695,937 866,825 685,931
Operating Profit 830,356 767,582 1,063,170 1,349,170 1,175,360 22,338 22,468
21,674
Growth (%) -7.56% 38.51% 26.90% -12.88% 19,765
22,468
15,213
17,885
Other Income (Expenses) -20,673 -37,581 -69,826 -32,149 -19,195

Income before Tax 809,682 733,053 993,344 1,317,021 1,118,545 13,301
Tax 190,849 117,426 202,780 233,174 71,695

Profit for the period 618,833 615,627 790,563 1,058,741 1,046,850 8,718
Growth (%) -0.52% 28.42% 33.92% -1.12%

4,134
Period Attributable 649,314 648,250 810,094 1,033,630 1,010,786 -449
Comprehensive Income 755,870 980,588 739,586 1,084,776 901,036 2012 2013 2014 2015 2016
Comprehensive Attributable 775,371 969,250 756,333 1,046,610 878,161
Current Ratio (%) 144.19 117.14 108.67 149.56 127.09
1,059 1,047
Dividend (Rp) 105.00 115.00 130.00 120.00 70.00 1,059
EPS (Rp) 168.59 167.04 206.99 262.36 253.22

791
BV (Rp) 1,093.03 1,382.00 1,523.18 1,849.42 2,022.74 843
DAR (X) 0.64 0.63 0.60 0.52 0.49 619 616
DER(X) 1.80 1.73 1.48 1.09 0.96

627
ROA (%) 5.25 4.21 5.34 6.96 6.61 411
ROE (%) 14.70 11.48 13.26 14.53 12.97

GPM (%) 5.82 6.12 7.71 11.21 12.32 195
OPM (%) 3.83 3.44 4.73 6.83 7.73

NPM (%) 2.86 2.76 3.52 5.36 6.88
-21
2012 2013 2014 2015 2016

Payout Ratio (%) 62.28 68.84 62.80 45.74 27.64
Yield (%) 2.53 2.63 3.16 1.67 1.17

COMPANY REPORT
ANTM
ANEKA TAMBANG (PERSERO) TBK.
Company Profile
PT Aneka Tambang Tbk. was established dated July 5rd, 1968. ANTAM is a vertically
integrated, exportoriented, diversified mining and metals company. With operations
spread throughout the mineralrich Indonesian archipelago, ANTAM undertakes all
activities from exploration, excavation, processing through to marketing of nickel ore,
ferronickel, gold, silver, bauxite and coal. The company has long term loyal blue chip
customersinEuropeandAsia.Duetothevastnessofthecompany'slicensedexploration
areas as well as its known large holdings of high quality reserves and resources, ANTAM
has formed several joint ventures with international partners to profitably develop
geologicalorebodiesintoprofitablemines.

ANTAM's objectives are centered on increasing shareholder value. The company's main
objective is to enhance shareholder value by lowering costs while profitably expanding
operations in a sustainable manner. The strategy maintains focus on ANTAM's core
businessofnickel,goldandbauxitewithaviewtomaximizingoutputinordertoincrease
cash generation and lower unit costs. ANTAM plans to sustain growth through reliable
expansion projects, strategic alliances, increasing quality reserves and adding value by
moving away from selling raw materials and increasing processing activities. ANTAM will
alsomaintainfinancialstrength.BygeneratingasmuchcashaspossibleANTAMensuresit
will have sufficient funds to repay debts, finance continued growth and pay dividends.
Lowering costs means operating more efficiently and productively, as well as increasing
capacitytobenefitfromeconomiesofscale.
2015wasachallengingyearfortheglobalminingindustryduelowercommoditypricesas
a result of the slowdown in global economy condition. Despite these challenges, in 2015
ANTAMsoperationalperformanceremainedpositive.ANTAMwasfocusingoninnovation
and efficiency in its line of businesses. ANTAM also strived to create and implement its
winning strategy to capture the growth potential despite challenging times. ANTAMs
effortstoensurethesuccessfuldeliveryofitscommitmentwilldeterminethecompanys
sustainability.Throughtheseefforts,ANTAMremainedoptimisticofitsfuture.

employees.
February 2017
Disclaimer:

ANTM AnekaTambang(Persero)Tbk.[S]
Industry Sub Sector : Metal And Mineral Mining (23) Market Capitalization : 19,224,611,780,000
56 | 19.2T | 0.33% | 75.68%
13 | 25.4T | 1.36% | 48.10%

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

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

TRADING ACTIVITIES
Aneka Tambang (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
1,400 800 Jan-13 1,450 1,280 1,360 22,216 334,911 459,571 21
Feb-13 1,410 1,260 1,290 21,263 276,248 370,664 20
1,225 700 Mar-13 1,410 1,270 1,370 21,935 369,713 498,521 19
Apr-13 1,460 1,340 1,380 29,241 379,964 531,390 22
May-13 1,390 1,260 1,280 12,742 163,731 219,021 22
1,050 600
Jun-13 1,280 960 1,000 19,890 222,828 239,560 19
Jul-13 1,320 930 1,160 35,090 484,551 558,097 23
875 500
Aug-13 1,420 1,160 1,330 28,844 459,193 604,265 17
Sep-13 1,540 1,290 1,420 26,297 466,526 670,454 21
700 400
Oct-13 1,620 1,410 1,600 19,048 291,081 444,388 21
Nov-13 1,610 1,250 1,260 20,019 304,490 419,207 20
525 300 Dec-13 1,300 990 1,090 25,778 383,286 449,913 19
350 200 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
175 100 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
Jun-14 1,210 1,070 1,090 20,978 284,324 330,285 21
Jul-14 1,270 1,085 1,270 24,346 403,327 476,916 18
Aug-14 1,275 1,185 1,195 21,286 316,265 391,847 20
Sep-14 1,225 1,070 1,110 25,680 282,688 327,543 22
Closing Price*, Jakarta Composite Index (IHSG) and Oct-14 1,110 925 970 35,500 400,479 390,151 23
Mining Index Nov-14 1,010 920 980 20,237 247,078 237,171 20
January 2013 - January 2017 Dec-14 1,120 945 1,065 25,530 315,920 321,526 20
45%
Jan-15 1,135 1,015 1,065 27,277 358,666 386,504 21
30% Feb-15 1,080 990 1,005 15,857 198,657 206,880 19
21.8% Mar-15 1,020 850 865 18,637 173,597 176,292 22
15% 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
-15%
Sep-15 540 465 486 34,277 416,378 208,489 21
-28.4% Oct-15 540 372 378 131,861 3,888,004 1,600,412 21
-30% -28.4% Nov-15 380 306 315 131,304 4,300,732 1,499,127 21
Dec-15 337 285 314 50,579 1,421,659 445,595 19
-45%
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
Mar-16 481 360 464 79,723 4,128,364 1,879,203 21
-75% Apr-16 775 458 760 113,912 5,409,195 3,476,843 21
Jan 13 Jan 14 Jan 15 Jan 16 Jan 17 May-16 780 625 650 47,998 1,825,883 1,303,940 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
SHARES TRADED 2013 2014 2015 2016 Jan-17 Aug-16 840 695 720 68,878 1,699,867 1,345,673 22
Volume (Million Sh.) 4,137 6,313 12,009 35,906 1,892 Sep-16 850 615 820 77,349 2,673,099 1,983,203 21
Value (Billion Rp) 5,465 7,046 5,387 24,492 1,625 Oct-16 900 770 895 77,772 4,196,316 3,612,322 21
Frequency (Thou. X) 282 381 515 871 60 Nov-16 1,005 865 970 85,469 3,883,073 3,643,626 22
Days 244 242 244 246 21 Dec-16 980 850 895 41,128 1,547,377 1,400,943 20
Price (Rupiah) Jan-17 930 795 800 60,157 1,892,375 1,625,427 21

High 1,620 1,290 1,135 1,005 930
Low 930 920 285 292 795
Close 1,090 1,065 314 895 800
Close* 916 895 314 895 800
PER (X) 25.36 -13.51 -5.24 421.47 376.74

PER Industry (X) 20.76 3.23 0.60 -4.41 -2.64
PBV (X) 0.81 0.84 0.41 1.17 1.05

Receivables 1,846,918 1,189,692 1,098,938 578,145 990,485

1,449,968 2,445,934 1,761,888 1,752,585 1,388,416 25,000
Inventories
Current Assets 7,646,851 7,080,437 6,343,110 11,252,827 10,630,222
18,750
Fixed Assets 4,663,449 6,700,156 8,699,660 12,267,804 12,958,946
Other Assets 61,874 72,239 88,724 81,249 74,723
12,500
Total Assets 19,708,541 21,865,117 22,044,202 30,356,851 29,981,536
Growth (%) 10.94% 0.82% 37.71% -1.24% 6,250

Growth (%) 31.93% 11.50% 19.04% -3.88%
Authorized Capital 3,800,000 3,800,000 3,800,000 3,800,000 3,800,000 18,317 18,409
Paid up Capital 953,846 953,846 953,846 2,403,076 2,403,076 18,409

Par Value 100 100 100 100 100
14,653
12,832 12,793
11,930
12,832,316 12,793,488 11,929,561 18,316,719 18,408,796
10,898
Total Equity
Growth (%) -0.30% -6.75% 53.54% 0.50% 7,143
Total Revenues 10,449,886 11,298,322 9,420,631 10,531,505 9,106,261

Growth (%) 8.12% -16.62% 11.79% -13.53%
-368
2012 2013 2014 2015 2016
Cost of Revenues 8,427,158 9,682,521 8,644,136 10,336,364 8,254,466

Gross Profit 2,022,728 1,615,801 776,495 195,141 851,795
Expenses (Income) 1,126,864 1,194,769 955,900 896,579 843,639
Operating Profit 895,864 421,032 -179,405 -701,439 8,156 11,298
10,450 10,532
Growth (%) -53.00% N/A -290.98% N/A
11,298
9,421 9,106
8,993
Other Income (Expenses) 2,999,631 -553,962 -653,730 -967,335 229,136

Income before Tax 3,895,495 -132,930 -833,135 -1,668,774 237,292 6,689
Tax 902,379 -542,878 -57,849 -227,921 172,485

Profit for the period 2,993,116 409,947 -775,286 -1,440,853 64,806 4,384
Growth (%) -86.30% N/A -85.85% N/A

2,079
Period Attributable 2,993,115 409,944 -775,287 -1,440,852 64,810 -226
Comprehensive Income 2,989,025 410,139 -775,179 912,556 92,077 2012 2013 2014 2015 2016
Comprehensive Attributable 2,989,024 410,135 -775,180 912,557 92,081
Current Ratio (%) 251.42 183.64 164.21 259.32 244.24
2,993
Dividend (Rp) 47.09 9.67 - - - 2,993
EPS (Rp) 313.79 42.98 -81.28 -59.96 2.70

BV (Rp) 1,345.32 1,341.25 1,250.68 762.22 766.05 2,106
DAR (X) 0.35 0.41 0.46 0.40 0.39

DER(X) 0.54 0.71 0.85 0.66 0.63
1,220
410
ROA (%) 15.19 1.87 -3.52 -4.75 0.22 333
2014 2015 65
ROE (%) 23.32 3.20 -6.50 -7.87 0.35
GPM (%) 19.36 14.30 8.24 1.85 9.35 -554
2012 2013 2016
OPM (%) 8.57 3.73 -1.90 -6.66 0.09 -775
NPM (%) 28.64 3.63 -8.23 -13.68 0.71
-1,441
-1,441
Payout Ratio (%) 15.01 22.50 - - -
Yield (%) 3.68 0.89 - - -

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

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

The Companyss largest shareholder is Jardine Cycle & Carriage Ltd., a company
incorporatedinSingapore.JardineCycle&CarriageLtd.isasubsidiaryofJardineMatheson
HoldingsLtd.,acompanyincorporatedinBermuda.

AsatDecember31st,2016,theCompanyanditssubsidiarieshad214,835employees.
February 2017
Disclaimer:

ASII AstraInternationalTbk.[S]
Industry Sector : Miscellaneous Industry (4) Listed Shares : 40,483,553,140
Industry Sub Sector : Automotive And Components (42) Market Capitalization : 321,844,247,463,000
4 | 321.8T | 5.60% | 26.67%
4 | 84.4T | 4.54% | 29.25%

Established Date : 20-Feb-1957 1. Jardine Cycle & Carriage Limited 20,288,255,040 : 50.11%
Listing Date : 04-Apr-1990 2. Public (<5%) 20,195,298,100 : 49.89%
Under Writer IPO :
F/I
Plaza Central Building 2nd Fl. 1990 100.00 05-Nov-90 06-Nov-90 13-Nov-90 27-Nov-90 I
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1990 150.00 02-May-91 03-May-91 13-May-91 10-Jun-91 F
Phone : (021) 252-5666 1991 100.00 12-Nov-91 13-Nov-91 20-Nov-91 16-Dec-91 I
Fax : (021) 252-5028 1991 125.00 17-Jun-92 18-Jun-92 25-Jun-92 24-Jul-92 F
1992 100.00 01-Jul-93 02-Jul-93 09-Jul-93 09-Aug-93 F
BOARD OF COMMISSIONERS 1993 225.00 13-Jun-94 14-Jun-94 21-Jun-94 21-Jul-94 F
1. Budi Setiadharma 1993 1:3 29-Jul-94 01-Aug-94 08-Aug-94 07-Sep-94 F
2. John Raymond Witt 1994 80.00 22-Jun-95 23-Jun-95 03-Jul-95 31-Jul-95 F
3. David Alexander Newbigging 1995 90.00 25-Jun-96 26-Jun-96 04-Jul-96 31-Jul-96 F
4. Adrian Teng Wei Ann 1996 120.00 30-Jun-97 01-Jul-97 09-Jul-97 29-Jul-97 F
5. Anthony John Liddell Nightingale 2003 50.00 01-Dec-03 02-Dec-03 04-Dec-03 18-Dec-03 I
6. Benjamin William Keswick 2003 170.00 28-Jun-04 29-Jun-04 01-Jul-04 14-Jul-04 F
7. Sidharta Utama 2004 100.00 01-Nov-04 02-Nov-04 04-Nov-04 12-Nov-04 F
8. Muhamad Chatib Basri 2005 270.00 16-Jun-05 17-Jun-05 21-Jun-05 04-Jul-05
9. Michinobu Sugata 2005 100.00 09-Nov-05 10-Nov-05 14-Nov-05 24-Nov-05 I
10. Mark Spencer Greenberg 2005 340.00 15-Jun-06 16-Jun-06 20-Jun-06 04-Jul-06 F
11. Mari Elka Pangestu 2006 150.00 20-Oct-06 30-Oct-06 01-Nov-06 15-Nov-06 I
12. Jonathan Chang 2006 290.00 14-Jun-07 15-Jun-07 19-Jun-07 03-Jul-07 F
*) Independent Commissioners 2007 160.00 29-Oct-07 30-Oct-07 01-Nov-07 15-Nov-07 I
2008 300.00 28-Oct-08 29-Oct-08 31-Oct-08 14-Nov-08 I
BOARD OF DIRECTORS 2008 570.00 17-Jun-09 18-Jun-09 22-Jun-09 03-Jul-09 F
1. Prijono Sugiarto 2009 830.00 16-Jun-10 17-Jun-10 21-Jun-10 05-Jul-10 F
2. Djony Bunarto Tjondro 2010 470.00 27-Oct-10 28-Oct-10 01-Nov-10 15-Nov-10 I
3. Bambang Widjanarko Santoso 2011 600.00 26-Oct-11 27-Oct-11 31-Oct-11 14-Nov-11 I
4. Chiew Sin Cheok 2011 1,380.00 16-May-12 21-May-12 23-May-12 06-Jun-12 F
5. Djoko Pranoto 2012 66.00 18-Oct-12 19-Oct-12 23-Oct-12 07-Nov-12 I
6. Widya Wiryawan 2012 150.00 20-May-13 21-May-13 23-May-13 07-Jun-13 F
7. Suparno Djasmin 2013 64.00 10-Oct-13 11-Oct-13 17-Oct-13 31-Oct-13 I
8. Sudirman Maman Rusdi 2013 152.00 22-May-14 23-May-14 28-May-14 12-Jun-14 F
9. Johannes Loman 2014 64.00 14-Oct-14 15-Oct-14 17-Oct-14 31-Oct-14 I
10. Gunawan Geniusahardja 2014 152.00 06-May-15 07-May-15 11-May-15 29-May-15 F
11. Gidion Hasan 2015 64.00 25-Sep-15 28-Sep-15 30-Sep-15 21-Oct-15 I
2015 113.00 04-May-16 09-May-16 11-May-16 27-May-16 F
AUDIT COMMITTEE 2016 55.00 26-Sep-16 27-Sep-16 29-Sep-16 21-Oct-16 I
1. Muhamad Chatib Basri
2. Adrian Teng Wei Ann ISSUED HISTORY
3. Harry Wiguna Listing Trading
4. Inget Sembiring No. Type of Listing Shares Date Date
1. First Issue 30,000,000 04-Apr-90 04-Apr-90
CORPORATE SECRETARY 2. Partial Listing 24,805,000 T: 04-Apr-90 : 04-Oct-90
Gita Tiffany Boer 3. Company Listing 184,893,000 T: 18-Dec-91 : 02-Jan-92
4. Koperasi 2,500,000 T: 18-Dec-91 : 31-Dec-99
HEAD OFFICE 5. Right Issue 1,453,219,775 T: 03-Jan-94 : 21-Jan-03
AMDI Building 6. Bonus Shares 871,912,800 08-Sep-94 08-Sep-94
Jln. Gaya Motor Raya No. 8 Sunter II 7. CB Conversion 280,837 T: 12-Mar-97 : 07-Aug-97
Jakarta 14330 8. Stock Split 37,598,029,063 T: 01-Sep-97 : 05-Jun-12
Phone : (021) 653-10418 9. Right Conversion 262,168,650 T: 24-Apr-00 : 19-Jan-04
Fax : (021) 6530-4957 10. Option I 8,637,003 T: 16-Oct-00 : 16-Feb-01
Homepage : www.astra.co.id 11. Option I Conversion 16,203,924 T: 31-Jul-01 : 26-Apr-02
Email : gita.tiffanyboer@ai.astra.co.id 12. Option II Conversion 30,903,088 T: 26-Apr-02 : 25-May-04

TRADING ACTIVITIES
Astra International Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
10,000 240 Jan-13 7,900 7,300 7,350 56,816 830,431 6,337,529 21
Feb-13 8,000 7,400 7,950 39,847 683,833 5,281,553 20
8,750 210 Mar-13 8,300 7,500 7,900 54,594 849,305 6,681,437 19
Apr-13 8,000 7,150 7,350 52,759 694,670 5,273,240 22
May-13 7,550 6,900 7,050 62,249 1,230,559 8,777,900 22
7,500 180
Jun-13 7,200 6,150 7,000 73,759 1,015,404 6,914,932 19
Jul-13 6,950 6,300 6,500 50,329 667,841 4,413,435 23
6,250 150
Aug-13 6,800 5,100 6,050 58,095 660,601 4,038,190 17
Sep-13 7,500 5,400 6,450 69,701 1,169,088 7,443,312 21
5,000 120
Oct-13 7,250 6,300 6,650 54,573 553,688 3,722,910 21
Nov-13 6,850 6,150 6,250 54,611 662,358 4,332,899 20
3,750 90 Dec-13 6,850 6,050 6,800 41,591 490,150 3,116,581 19
2,500 60 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
1,250 30 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
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
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
Miscellaneous Industry Index Nov-14 7,200 6,700 7,125 59,454 514,457 3,588,238 20
40%
Jan-15 8,100 7,000 7,850 80,784 804,490 6,050,554 21
30% Feb-15 8,175 7,450 7,850 72,728 692,429 5,401,520 19
Mar-15 8,575 7,800 8,575 77,266 1,094,749 8,817,908 22
20% 21.8% 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
10% Jun-15 7,350 6,550 7,075 79,359 735,267 5,126,440 21
6.0% 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
- 0.4%
Sep-15 6,200 4,975 5,225 79,802 590,132 3,412,962 21
Oct-15 6,875 5,075 5,900 120,523 1,170,631 7,099,297 21
-10%
Nov-15 6,850 5,800 5,925 105,808 1,168,021 7,428,850 21
Dec-15 6,600 5,800 6,000 102,962 1,002,948 6,241,308 19
-20%
Jan-16 6,450 5,700 6,450 100,020 1,286,937 7,745,522 20

-30% 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
-40% Apr-16 7,850 6,600 6,725 85,928 904,645 6,505,517 21
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
Value (Billion Rp) 66,334 71,070 69,907 88,029 4,163 Oct-16 8,600 8,075 8,225 83,200 790,440 6,572,517 21
Frequency (Thou. X) 669 928 1,011 1,131 65 Nov-16 8,400 7,300 7,550 107,226 978,647 7,745,903 22
Days 244 242 244 246 21 Dec-16 8,275 7,325 8,275 80,062 643,082 5,007,909 20
Price (Rupiah) Jan-17 8,250 7,900 7,950 64,767 515,769 4,162,657 21

High 8,300 8,050 8,575 8,875 8,250
Low 5,100 6,225 4,975 5,700 7,900
Close 6,800 7,425 6,000 8,275 7,950
Close* 6,800 7,425 6,000 8,275 7,950
PER (X) 14.18 15.56 16.79 22.28 21.40

PER Industry (X) 13.91 14.44 0.95 13.86 13.68
PBV (X) 2.59 2.60 1.92 2.54 2.44

Receivables 38,608,000 51,645,000 54,759,000 53,005,000 55,063,000

15,285,000 14,433,000 16,986,000 18,337,000 17,771,000 210,000
Inventories
Current Assets 75,799,000 88,352,000 97,241,000 105,161,000 110,403,000
157,500
Fixed Assets 34,326,000 37,862,000 41,250,000 41,702,000 43,237,000
Other Assets 1,824,000 2,490,000 2,869,000 2,978,000 3,007,000
105,000
Total Assets 182,274,000 213,994,000 236,029,000 245,435,000 261,855,000
Growth (%) 17.40% 10.30% 3.99% 6.69% 52,500

Growth (%) 16.60% 7.33% 2.76% 2.56%
126,533
Paid up Capital 2,024,178 2,024,178 2,024,178 2,024,000 2,024,178 131,803
120,324
Paid up Capital (Shares) 40,484 40,484 40,484 40,480 40,484 106,188
Par Value 50 50 50 50 50 89,814
104,915

89,814,000 106,188,000 120,324,000 126,533,000 131,803,000
78,027
Total Equity
Growth (%) 18.23% 13.31% 5.16% 4.16% 51,140
Total Revenues 188,053,000 193,880,000 201,701,000 184,196,000 181,084,000

Growth (%) 3.10% 4.03% -8.68% -1.69%
-2,636
2012 2013 2014 2015 2016
Cost of Revenues 151,853,000 158,569,000 162,892,000 147,486,000 144,652,000

Gross Profit 36,200,000 35,311,000 38,809,000 36,710,000 36,432,000
Expenses (Income) 8,302,000 7,788,000 11,457,000 17,080,000 14,179,000
Operating Profit - - - - 22,253,000 201,701
188,053 193,880
184,196 181,084
Growth (%)
160,554

Tax 5,156,000 5,226,000 5,227,000 4,017,000 3,951,000

Profit for the period 22,742,000 22,297,000 22,125,000 15,613,000 18,302,000
78,260
Growth (%) -1.96% -0.77% -29.43% 17.22%

37,113
Period Attributable 19,421,000 19,417,000 19,181,000 14,464,000 15,156,000 -4,034
Current Ratio (%) 139.91 124.20 132.26 137.93 123.94
22,742 22,297 22,125
Dividend (Rp) 216.00 216.00 216.00 177.00 55.00
EPS (Rp) 479.73 479.63 473.80 357.31 374.37 18,302
BV (Rp) 2,218.53 2,622.99 2,972.17 3,125.82 3,255.72 18,103
15,613
DAR (X) 0.51 0.50 0.49 0.48 0.47
DER(X) 1.03 1.02 0.96 0.94 0.93
13,463
ROA (%) 12.48 10.42 9.37 6.36 6.99 8,824
ROE (%) 25.32 21.00 18.39 12.34 13.89

GPM (%) 19.25 18.21 19.24 19.93 20.12 4,185
OPM (%) - - - - 12.29

NPM (%) 12.09 11.50 10.97 8.48 10.11
-455
2012 2013 2014 2015 2016

Payout Ratio (%) 45.03 45.04 45.59 49.54 14.69
Yield (%) 2.84 3.18 2.91 2.95 0.66

COMPANY REPORT
ASRI
ALAM SUTERA REALTY TBK.
Company Profile

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

TheCompanysactivitiesaredevelopingandmanagehousing.GroupisdomiciledatWisma
Argo Manunggal, Jln. Jend. Gatot Subroto Kav. 22, Jakarta and has real estate projects
whicharelocatedat:
Kec. Serpong, Kab. Tangerang, and Kec. Pasar Kemis, Kab. Tangerang, Province
Banten,
Kec.SetiaBudi,JakartaSelatan,
Kec.KutaSelatan,Badung,Bali.

Andownslandsfordevelopmentlocatedin:
Kec.Pinang,Kec.PasarKemis,Kab.Tangerang,ProvinceBanten,
Kec.Pacet,Kab.Cianjur,ProvinceWestJava
Kec.TanjungPinang,ProvinceRiau,
Kec.DenpasarSelatanandBadung,Bali.

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

AlamSuterabelievesthatallthedevelopmenteffortsmusttakeenvironmentalissuesinto
accountseriously.Theecofriendlydevelopmentmeantmorethanamarketinggimmick
it is the companys commitment. The Company is committed to do their part in the
handling of millions of tons of pollution in their environment every day, by setting an
examplehowtodevelopasustainablegreencommunity.

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

TheCompanyandsubsidiarieshad1,808employeesasofSeptember30th,2016.
February 2017
Disclaimer:

ASRI AlamSuteraRealtyTbk.[S]
Industry Sub Sector : Property And Real Estate (61) Market Capitalization : 7,506,075,341,216
111 | 7.51T | 0.13% | 87.20%
57 | 7.07T | 0.38% | 79.46%

Established Date : 03-Nov-1993 1. PT Manunggal Prime Development 3,610,505,464 : 18.37%
Listing Date : 18-Dec-2007 2. Tangerang Fajar Industrial Estate 2,982,450,000 : 15.18%
Under Writer IPO : 3. PT Tangerang Fajar Industrial Estate 1,971,650,000 : 10.03%
PT Ciptadana Securities 4. MKES-Client Repo 1,571,229,100 : 8.00%
Securities Administration Bureau : 5. Public (<5%) 9,513,577,324 : 48.42%
PT Raya Saham Registra
Plaza Central Building 2nd Fl. DIVIDEND ANNOUNCEMENT
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 Bonus Cash Recording Payment
F/I
Phone : (021) 252-5666 Year Shares Dividend Cum Date Ex Date Date Date
Fax : (021) 252-5028 2008 0.69 03-Jul-09 06-Jul-09 09-Jul-09 24-Jul-09 F
2009 1.05 20-Jul-10 21-Jul-10 23-Jul-10 06-Aug-10 F
BOARD OF COMMISSIONERS 2010 4.03 01-Jul-11 04-Jul-11 06-Jul-11 20-Jul-11 F
1. Harjanto Tirtohadiguno 2011 6.13 05-Jul-12 06-Jul-12 10-Jul-12 24-Jul-12 F
2. Angeline Sutedja 2012 14.60 25-Jun-13 26-Jun-13 28-Jun-13 12-Jul-13 F
3. Pingki Elka Pangestu *) 2014 7.00 30-Jun-15 01-Jul-15 03-Jul-15 24-Jul-15 F
4. Prasasto Sudyatmiko *)
5. The Nicholas ISSUED HISTORY
*) Independent Commissioners Listing Trading
BOARD OF DIRECTORS 1. First Issue 3,142,000,000 18-Dec-07 18-Dec-07
1. Joseph Sanusi Tjong 2. Company Listing 13,986,810,000 18-Dec-07 18-Aug-08
2. Andrew Charles Walker 3. Warrant 4,974,500 11-Jun-09 11-Jun-09
3. Lilia Setiprawarti Sukotjo 4. Warrant 40,050,000 18-Jun-09 18-Jun-09
4. Rm Frangky Ad 5. Warrant 1,000,000 19-Jun-09 19-Jun-09
6. Warrant 18,500,000 22-Jun-09 22-Jun-09
AUDIT COMMITTEE 7. Warrant 20,000,000 28-Jul-09 28-Jul-09
1. Prasasto Sudyatmiko 8. Warrant 250,000 12-Oct-09 12-Oct-09
2. Hidajat Hoesni 9. Warrant 3,325,000 14-Oct-09 14-Oct-09
3. Sri Wahyuni Sujono 10. Warrant 55,000,000 23-Oct-09 23-Oct-09
11. Warrant 45,500,000 27-Oct-09 27-Oct-09
CORPORATE SECRETARY 12. Warrant 27,500,000 28-Oct-09 28-Oct-09
Tony Rudiyanto 13. Warrant 63,108,500 29-Oct-09 29-Oct-09
14. Warrant 15,000,000 03-Nov-09 03-Nov-09
HEAD OFFICE 15. Warrant 60,000,000 24-Nov-09 24-Nov-09
Synergy Building, 19th Floor 16. Warrant 27,500,000 26-Nov-09 26-Nov-09
Jln. Jalur Sutera Barat No. 17 17. Warrant 388 03-Dec-09 03-Dec-09
Alam Sutera, Tangerang - 15143 18. Warrant 27,500,000 10-Dec-09 10-Dec-09
Phone : (021) 3043-8888, 252-3838 19. Warrant 277,976,000 14-Dec-09 14-Dec-09
Fax : (021) 3043-8826 20. Warrant 15,000,000 15-Dec-09 15-Dec-09
21. Warrant 1,695,000 21-Dec-09 21-Dec-09
Homepage : www.alam-sutera.com 22. Warrant 30,412,500 28-Dec-09 28-Dec-09
Email : corsec@alam-sutera.com 23. Additional Listing without RI 1,786,310,000 25-Jan-12 25-Jan-12

TRADING ACTIVITIES
Alam Sutera Realty Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
1,200 1,600 Jan-13 810 600 770 28,260 2,758,752 2,724,524 21
Feb-13 970 750 930 26,881 1,503,613 1,299,168 20
1,050 1,400 Mar-13 1,160 930 1,070 36,275 2,093,327 2,178,327 19
Apr-13 1,090 970 1,050 41,384 2,555,637 2,636,209 22
May-13 1,130 1,020 1,060 43,176 2,136,655 2,296,257 22
900 1,200
Jun-13 1,080 720 750 65,671 4,696,607 4,021,982 19
Jul-13 800 650 700 45,919 1,984,976 1,452,171 23
750 1,000
Aug-13 830 445 550 45,493 2,264,238 1,407,217 17
Sep-13 760 450 600 58,331 3,063,421 1,822,815 21
600 800
Oct-13 700 560 610 43,176 4,867,653 3,050,634 21
Nov-13 610 455 475 43,705 2,060,989 1,091,598 20
450 600 Dec-13 530 425 430 32,921 1,686,157 800,565 19
300 400 Jan-14 550 424 510 53,655 2,182,118 1,083,703 20

Feb-14 605 500 575 46,156 2,449,458 1,364,848 20
150 200 Mar-14 680 560 595 54,398 2,986,797 1,854,302 20
Apr-14 645 525 530 44,870 1,895,164 1,085,403 20
May-14 550 494 500 34,759 1,321,748 683,943 18
Jun-14 499 435 442 38,963 782,146 360,303 21
Jul-14 560 440 525 53,818 2,225,772 1,155,784 18
Aug-14 570 497 510 36,313 1,908,074 1,010,420 20
Sep-14 510 451 455 40,311 906,677 442,646 22
Closing Price*, Jakarta Composite Index (IHSG) and Oct-14 490 430 464 49,400 1,057,391 484,283 23
Property, Real Estate and Bulding Construction Index Nov-14 565 444 560 43,394 1,656,102 834,439 20
January 2013 - January 2017 Dec-14 610 497 560 48,903 3,168,955 1,743,856 20
100%
Jan-15 620 550 595 29,139 1,821,531 1,069,965 21
80% Feb-15 700 585 670 36,985 2,518,964 1,623,053 19
Mar-15 675 525 555 61,613 2,758,825 1,604,821 22
60% 59.7% Apr-15 680 545 615 36,708 2,218,790 1,396,763 21
May-15 675 600 600 28,356 1,153,314 745,260 19
40% Jun-15 625 500 575 39,772 1,309,474 732,783 21
Jul-15 585 505 505 31,143 1,266,002 700,001 19
21.8% Aug-15 525 323 354 69,420 2,160,455 875,763 20
20%
Sep-15 362 307 316 53,105 1,676,933 572,259 21
Oct-15 428 317 389 104,304 3,309,709 1,294,183 21
-
Nov-15 396 323 339 58,540 1,555,477 559,415 21
Dec-15 372 323 343 29,391 711,010 251,865 19
-20%
Jan-16 352 317 321 27,569 553,709 182,447 20

-40% -37.4%
Feb-16 379 322 344 42,404 1,162,649 404,017 20
Mar-16 400 345 372 47,896 1,402,814 530,961 21
-60% Apr-16 426 370 396 50,081 1,224,963 489,098 21
Jan 13 Jan 14 Jan 15 Jan 16 Jan 17 May-16 412 360 386 38,420 1,256,238 517,928 20
Jun-16 515 384 480 58,344 2,614,181 1,231,777 22
Jul-16 560 472 525 45,868 1,743,472 885,649 16
SHARES TRADED 2013 2014 2015 2016 Jan-17 Aug-16 585 476 492 52,326 1,712,519 916,410 22
Volume (Million Sh.) 31,672 22,540 22,460 15,469 1,177 Sep-16 510 436 462 39,848 1,059,014 506,184 21
Value (Billion Rp) 24,781 12,104 11,426 6,795 457 Oct-16 482 436 448 35,543 855,900 398,007 21
Frequency (Thou. X) 511 545 578 500 43 Nov-16 454 362 380 33,427 787,757 317,859 22
Days 244 242 244 246 21 Dec-16 404 332 352 28,453 1,095,409 414,505 20
Price (Rupiah) Jan-17 416 346 382 42,904 1,176,518 457,202 21

High 1,160 680 700 585 416
Low 425 424 307 317 346
Close 430 560 343 352 382
Close* 430 560 343 352 382
PER (X) 9.64 10.08 11.30 7.86 8.53

PER Industry (X) 9.57 16.29 13.36 24.89 28.26
PBV (X) 1.58 1.81 1.02 0.94 1.02

Public Accountant : Paul Hadiwinata, Hidajat, Arsono, Achmad, Suharli & Rekan (Member of PKF International Ltd)
BALANCE SHEET Dec-12 Dec-13 Dec-14 Dec-15 Sep-16 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
Cash & Cash Equivalents 1,641,316 890,181 880,754 638,388 1,281,807 20,000
Receivables 29,721 84,690 192,197 153,124 169,003

16,000
Inventories 1,661,094 937,153 930,602 1,156,083 1,065,068

12,000
Investment - - - - -
Fixed Assets 708,121 801,678 957,762 1,097,190 1,129,807
8,000
Other Assets 11,619 61,186 74,140 64,345 85,662
Total Assets 10,946,417 14,428,083 16,924,367 18,709,870 19,974,357 4,000
Growth (%) 31.81% 17.30% 10.55% 6.76%
-
Trade Payable 35,257 165,089 160,587 1,033,021 464,848 2012 2013 2014 2015 Sep-16
Growth (%) 46.37% 16.02% 14.73% 4.29%
6,602
6,371
Paid up Capital 1,964,941 1,964,941 1,964,941 1,964,941 1,964,941
5,332
5,848
4,732
Par Value 100 100 100 100 100
2,050,204 2,640,107 3,599,980 4,061,177 4,724,578
4,350
Retained Earnings
Total Equity 4,731,875 5,331,785 6,371,194 6,602,410 7,347,182 2,851
Growth (%) 12.68% 19.49% 3.63% 11.28%

1,352
INCOME STATEMENTS Dec-12 Dec-13 Dec-14 Dec-15 Sep-16

Total Revenues 2,446,414 3,684,240 3,630,914 2,783,700 1,905,072
-147
2012 2013 2014 2015 Sep-16

Growth (%) 50.60% -1.45% -23.33%
Cost of Revenues 979,517 1,846,814 1,324,196 727,637 842,006

Gross Profit 1,466,897 1,837,425 2,306,718 2,056,063 1,063,066
Operating Expenses 212,884 304,204 398,953 1,297,106 335,668 3,684 3,631
1,254,013 1,533,221 1,907,766 - -
3,684
Operating Profit
Growth (%) 22.27% 24.43% 2,933
2,784
2,446
Other Income (Expenses) 90,182 -451,445 -521,999 - - 2,181

1,905
Income before Tax 1,344,195 1,081,776 1,385,767 758,957 727,398
Tax 128,103 192,199 208,812 74,670 66,673
1,429
Profit for the period 1,216,092 889,577 1,176,955 684,288 660,725

Growth (%) -26.85% 32.31% -41.86%
678
-74
Period Attributable 1,192,716 876,785 1,176,955 596,515 659,740 2012 2013 2014 2015 Sep-16
Comprehensive Income 1,216,092 889,577 1,176,955 686,485 664,396
Comprehensive Attributable 1,192,716 876,785 1,097,418 598,743 663,402
RATIOS Dec-12 Dec-13 Dec-14 Dec-15 Sep-16 1,216 1,177
Dividend (Rp) 14.60 - 7.00 - - 1,216
EPS (Rp) 61.89 45.27 59.90 34.82 33.63

890
BV (Rp) 240.82 271.35 324.24 336.01 373.91 968
DAR (X) 0.57 0.63 0.62 0.65 0.63 684 661

DER(X) 1.31 1.71 1.66 1.83 1.72
720
ROA (%) 11.11 6.17 6.95 3.66 3.31 472
ROE (%) 25.70 16.68 18.47 10.36 8.99

GPM (%) 59.96 49.87 63.53 73.86 55.80 224
OPM (%) 51.26 41.62 52.54 - -

NPM (%) 49.71 24.15 32.41 24.58 34.68
-24
2012 2013 2014 2015 Sep-16

Payout Ratio (%) 23.59 - 11.69 - -
Yield (%) 3.16 - 1.52 - -

COMPANY REPORT
BBCA
BANK CENTRAL ASIA TBK.
Company Profile
PT Bank Central Asia Tbk. was established under the name N.V. Perseroan Dagang dan
Industrie Semarang Knitting Factory on October 10th, 1955. The name has changed for
severaltime,thelastchangewasonMay21st,1974,whichisPTBankCentralAsia.
The Bank began operations in banking since the date of October 12, 1956. The Bank
operates as a commercial bank. Bank engaged in banking and other financial services in
accordancewiththeregulationsapplicableinIndonesia.
As of December 31st, 2016, BCA had 989 domestics branches and 2 overseas
representativeslocatedinSingaporeandHongKong.
BCA has direct and indirect ownership in subsidiaries: PT BCA Finance, BCA Finance
Limited, PT Bank BCA Syariah, PT BCA Sekuritas, PT Asuransi Umum BCA, and PT Central
SantosaFinance.
AsatDecember31st,2016,BCAhad26,364permanentemployees.
February 2017
Disclaimer:

BBCA BankCentralAsiaTbk.
Industry Sector : Finance (8) Listed Shares : 24,408,459,120
Industry Sub Sector : Bank (81) Market Capitalization : 373,449,424,536,000
3 | 373.4T | 6.50% | 21.07%
1 | 260.5T | 14.00% | 14.00%

Established Date : 10-Aug-1955 1. PT Dwimuria Investama Andalan 11,625,990,000 : 47.63%
Listing Date : 31-May-2000 2. Public (<5%) 12,782,469,120 : 52.37%
Under Writer IPO :
F/I
Securities Administration Bureau : Year Shares Dividend Cum Date Ex Date Date Date
PT Raya Saham Registra 2001 85.00 14-Nov-01 15-Nov-01 20-Nov-01 04-Dec-01 I
Plaza Central Building 2nd Fl. 2001 140.00 29-Oct-02 30-Oct-02 01-Nov-02 15-Nov-02 F
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 2002 225.00 03-Dec-03 04-Dec-03 08-Dec-03 19-Dec-03 F
Phone : (021) 252-5666 2003 225.00 30-Jun-04 01-Jul-04 06-Jul-04 20-Jul-04 F
Fax : (021) 252-5028 2004 50.00 22-Nov-04 23-Nov-04 25-Nov-04 08-Dec-04 F
2005 80.00 19-Jul-05 20-Jul-05 22-Jul-05 05-Aug-05
BOARD OF COMMISSIONERS 2005 50.00 06-Oct-05 07-Oct-05 11-Oct-05 25-Oct-05 I
1. Djohan Emir Setijoso 2005 90.00 06-Jun-06 07-Jun-06 09-Jun-06 23-Jun-06 F
2. Cyrillus Harinowo *) 2006 55.00 10-Oct-06 11-Oct-06 13-Oct-06 03-Nov-06 I
3. Raden Pardede *) 2006 115.00 08-Jun-07 11-Jun-07 13-Jun-07 27-Jun-07 I
4. Sumatri Slamet *) 2007 55.00 29-Nov-07 30-Nov-07 04-Dec-07 18-Dec-07 I
5. Tonny Kusnadi 2007 63.50 12-Jun-08 13-Jun-08 17-Jun-08 01-Jul-08 F
*) Independent Commissioners 2008 35.00 15-Jan-09 16-Jan-09 20-Jan-09 30-Jan-09 I
2008 65.00 09-Jun-09 10-Jun-09 12-Jun-09 26-Jun-09 F
BOARD OF DIRECTORS 2009 40.00 12-Nov-09 13-Nov-09 17-Nov-09 02-Dec-09 I
1. Jahja Setiaatmadja 2009 70.00 31-May-10 01-Jun-10 03-Jun-10 17-Jun-10 F
2. Armand Wahyudi Hartono 2010 42.50 19-Nov-10 22-Nov-10 24-Nov-10 09-Dec-10 I
3. Erwan Yuris Ang 2010 70.00 06-Jun-11 07-Jun-11 09-Jun-11 23-Jun-11 F
4. Eugene Keith Galbraith 2011 43.50 06-Dec-11 07-Dec-11 09-Dec-11 23-Dec-11 I
5. Henry Koenaifi 2011 113.50 08-Jun-12 11-Jun-12 13-Jun-12 27-Jun-12 F
6. Inawaty Handoyo 2012 43.50 03-Dec-12 04-Dec-12 06-Dec-12 20-Dec-12 I
7. Lianawaty Suwono 2012 71.00 28-May-13 29-May-13 31-May-13 17-Jun-13 F
8. Rudy Susanto 2013 45.00 28-Nov-13 29-Nov-13 03-Dec-13 17-Dec-13 I
9. Santoso 2013 120.00 29-Apr-14 30-Apr-14 05-May-14 20-May-14 F
10. Subur Tan 2014 50.00 04-Dec-14 05-Dec-14 09-Dec-14 23-Dec-14 I
11. Suwignyo Budiman 2014 148.00 16-Apr-15 17-Apr-15 21-Apr-15 13-May-15 F
2015 55.00 12-Nov-15 13-Nov-15 17-Nov-15 09-Dec-15 I
AUDIT COMMITTEE 2016 70.00 30-Nov-16 01-Dec-16 05-Dec-16 22-Dec-16 I
1. Cyrillus Harinowo
2. Ilham Ikhsan ISSUED HISTORY
3. Tjen Lestari Listing Trading
CORPORATE SECRETARY 1. First Issue 662,400,000 31-May-00 31-May-00
Jan Hendra 2. Company Listing 2,252,146,140 T: 31-May-00 : 11-Jan-01
3. Stock Split 21,199,350,480 T: 15-May-01 : 28-Jan-08
HEAD OFFICE 4. Option Conversion 210,852,000 T: 29-Nov-01 : 09-Nov-06
Menara BCA, Grand Indonesia 5. Option Conversion MSOP 89,226,500 T: 04-Aug-03 : 29-Sep-04
Jln. M.H. Thamrin No. 1 6. Partial Delisting -5,516,000 04-Jan-08 04-Jan-08
Jakarta 10310
Phone : (021) 2358-8000
Fax : (021) 2358-8300
Homepage : www.bca.co.id
Email : jan_hendra@bca.co.id
investor_relations@bca.co.id

TRADING ACTIVITIES
Bank Central Asia Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
18,000 16,000 Jan-13 9,750 8,850 9,650 22,825 280,620 2,589,237 21
Feb-13 11,300 9,650 11,000 22,323 662,141 6,634,281 20
15,750 14,000 Mar-13 11,400 10,400 11,400 27,863 259,577 2,789,619 19
Apr-13 11,250 10,450 10,750 25,790 316,861 3,437,786 22
May-13 11,150 10,350 10,350 26,204 253,379 2,749,582 22
13,500 12,000
Jun-13 10,350 8,900 10,000 46,266 521,956 5,000,323 19
Jul-13 10,450 9,100 10,400 31,898 236,737 2,350,258 23
11,250 10,000
Aug-13 10,950 8,500 9,050 33,059 300,896 2,901,118 17
Sep-13 12,500 8,450 10,000 39,349 344,117 3,377,809 21
9,000 8,000
Oct-13 10,800 9,750 10,450 25,605 342,053 3,604,261 21
Nov-13 10,650 9,550 9,650 38,027 253,767 2,565,011 20
6,750 6,000 Dec-13 9,850 9,250 9,600 30,855 186,366 1,776,805 19
4,500 4,000 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
2,250 2,000 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
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
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
Finance Index Nov-14 13,525 12,500 13,100 58,896 286,375 3,745,157 20
105%
Jan-15 13,425 12,800 13,375 53,863 273,651 3,592,271 21
90% Feb-15 14,550 13,250 14,100 62,002 260,770 3,622,454 19
Mar-15 14,825 14,025 14,825 90,945 331,831 4,777,845 22
75% Apr-15 15,600 12,900 13,475 86,286 451,166 6,531,175 21
68.1% May-15 14,500 13,400 14,125 67,586 339,175 4,710,311 19
60% 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
45% 45.5%
Sep-15 12,850 11,300 12,275 62,916 340,220 4,094,909 21
Oct-15 13,775 11,875 12,900 76,510 379,238 4,966,315 21
30%
Nov-15 13,750 12,375 12,375 70,680 466,909 6,129,554 21
21.8% Dec-15 13,800 12,700 13,300 85,393 681,684 9,049,648 19
15%
Jan-16 13,550 12,750 13,100 84,389 565,286 7,404,232 20

- Feb-16 13,575 12,875 13,475 111,412 533,233 7,075,078 20
Mar-16 13,925 13,050 13,300 87,449 561,182 7,541,426 21
-15% Apr-16 13,450 12,775 13,050 75,089 374,867 4,906,411 21
Jun-16 13,450 12,625 13,325 75,748 422,148 5,505,430 22
Jul-16 14,675 13,200 14,450 77,416 628,474 8,850,322 16
Frequency (Thou. X) 370 651 881 981 60 Nov-16 15,650 13,950 14,300 83,694 12,183,909 185,159,678 22
Days 244 242 244 246 21 Dec-16 15,550 14,125 15,500 72,759 551,439 8,145,086 20
Price (Rupiah) Jan-17 15,875 14,950 15,300 60,466 265,560 4,090,291 21

High 12,500 13,575 15,600 16,200 15,875
Low 8,450 9,250 11,000 12,625 14,950
Close 9,600 13,125 13,300 15,500 15,300
Close* 9,600 13,125 13,300 15,500 15,300
PER (X) 16.61 19.90 18.02 18.95 18.70

PER Industry (X) 17.20 27.72 25.09 20.71 21.21
PBV (X) 3.70 4.33 3.66 3.49 3.45

Public Accountant : Siddharta Widjaja & Rekan (member of KPMG International)
Cash on Hand 11,054,208 16,284,142 19,577,571 17,849,460 15,943,854 687,500
Placements with Other Banks 28,802,130 12,254,043 11,502,178 56,259,099 35,363,890

47,310,371 89,463,509 26,289,663 515,099 2,547,098 550,000
Marketable Securities
Loans 252,760,457 306,679,132 339,859,068 378,616,292 403,391,221
412,500
Investment 104,246 182,544 166,888 51,153,115 161,978
Fixed Assets 6,406,625 7,440,017 8,844,930 9,712,021 16,990,835
275,000
Other Assets 6,265,653 6,564,382 7,133,595 8,619,292 258,733
Total Assets 442,994,197 496,304,573 552,423,892 594,372,770 676,738,753 137,500
Growth (%) 12.03% 11.31% 7.59% 13.86%
-
Deposits 372,837,307 413,036,948 451,660,016 478,173,935 535,399,322 2012 2013 2014 2015 2016
Taxes Payable 216,614 276,017 251,818 251,091 -
Fund Borrowings 128,018 500,952 3,080,942 1,743,337 2,788,552
Other Liabilities 5,620,847 5,768,437 6,260,219 7,613,476 9,258,788 TOTAL EQUITY (Bill. Rp)
Total Liabilities 390,067,244 432,337,895 472,550,777 501,945,424 560,556,687 112,715
Growth (%) 10.84% 9.30% 6.22% 11.68% 112,715
89,625
89,721
Paid up Capital 1,540,938 1,540,938 1,540,938 1,540,938 1,540,938 63,967

24,655 24,655 24,655 24,655 24,655
66,727
Paid up Capital (Shares) 51,898
Par Value 63 63 63 63 63 43,733

Total Equity 51,897,942 63,966,678 77,920,617 89,624,940 112,715,059 20,740
Growth (%) 23.25% 21.81% 15.02% 25.76%

-2,254
2012 2013 2014 2015 2016

Total Interest Income 28,885,290 34,277,149 43,771,256 55,441,647 50,425,826
Growth (%) 18.67% 27.70% 26.66% -9.05%
TOTAL INTEREST INCOME (Bill. Rp)
Interest Expenses 7,647,167 7,852,009 11,744,562 11,217,072 10,346,736 55,442

50,426
6,375,833 470,940 1,738,943 3,651,597 1,953,656
55,442
Other Operating Revenue

43,771
Other Operating Expenses 12,859,718 14,631,462 18,306,319 25,219,058 23,378,946 44,132
Income from Operations 14,255,568 17,078,667 20,504,773 22,657,114 25,839,200 34,277

Growth (%) 19.80% 20.06% 10.50% 14.04% 32,821 28,885
Non-Operating Revenues 430,478 736,939 236,348 - -

21,511
Income Before Tax 14,686,046 17,815,606 20,741,121 22,657,114 25,839,200

Provision for Income Tax 2,967,586 3,559,367 4,229,451 4,621,346 5,206,919
10,201
Profit for the period 11,718,460 14,256,239 16,511,670 18,035,768 20,632,281 -1,109
Growth (%) 21.66% 15.82% 9.23% 14.40% 2012 2013 2014 2015 2016
Period Attributable 11,721,717 14,253,831 16,485,858 18,018,653 20,605,736

Comprehensive Income 11,898,523 13,004,312 16,925,171 17,691,505 27,404,745 PROFIT FOR THE PERIOD (Bill. Rp)
20,632
18,036
20,632
RATIOS Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 16,512

Dividend (Rp) 114.50 165.00 198.00 55.00 70.00 16,423
14,256
EPS (Rp) 475.43 578.13 668.66 730.83 835.76 11,718
BV (Rp) 2,104.97 2,594.47 3,160.44 3,635.16 4,571.69
12,214
DAR (X) 0.88 0.87 0.86 0.84 0.83 8,005
DER(X) 7.52 6.76 6.06 5.60 4.97

ROA (%) 2.65 2.87 2.99 3.03 3.05 3,796
ROE (%) 22.58 22.29 21.19 20.12 18.30

OPM (%) 49.35 49.83 46.85 40.87 51.24
-413
2012 2013 2014 2015 2016

NPM (%) 40.57 41.59 37.72 32.53 40.92
Payout Ratio (%) 24.08 28.54 29.61 7.53 8.38
Yield (%) 1.26 1.72 1.51 0.41 0.45

COMPANY REPORT
BBNI
BANK NEGARA INDONESIA
(PERSERO) TBK.
Company Profile
PTBankNegaraIndonesia(Persero)Tbk.wasoriginallyestablishedinIndonesiaasacentral
bank under the name Bank Negara Indonesia dated July 5th, 1946. Subsequently, BNI
became Bank Negara Indonesia 1946 and changed its status to a stateowned
commercialbank.
BNIsscopeofactivityistoengageingeneralbankingservices.
As of December 31st, 2016, BNI had 196 domestic branches, 944 domestic subbranches,
and829otheroutlet.Inaddition,BNIsnetworkalsoincluded5overseasbrancheslocated
inSingapore,HongKong,Tokyo,LondonandSeoul,and1agencyinNewYork.
BNI has direct ownership in the following subsidiaries: PT BNI Life Insurance, PT BNI
Multifinance, PT BNI Securities and subsidiaries, BNI Remittance Ltd. and PT Bank BNI
Syariah.AllofthesubsidiariesofBNIaredomiciledinJakarta,exceptforBNIRemittance
Ltd.whichisdomiciledinHongKong.
As of December 31st, 2016, BNI had 24,272 permanent employees and 4,118 non
permanentemployees,total28,390employees.
February 2017
Disclaimer:

BBNI BankNegaraIndonesia(Persero)Tbk.
9 | 105.2T | 1.83% | 45.40%
7 | 41.6T | 2.24% | 38.60%

Established Date : 05-Jul-1946 1. Negara Republik Indonesia 11,189,193,875 : 60.61%
Under Writer IPO :
PT Bahana Securities DIVIDEND ANNOUNCEMENT
PT BNI Securities Bonus Cash Recording Payment
F/I
PT Danareksa Sekuritas Year Shares Dividend Cum Date Ex Date Date Date
PT Pentasena Arthasentosa 1996 13.00 06-May-97 07-May-97 16-May-97 14-Jun-97 F
Securities Administration Bureau : 1997 14.00 30-Jun-98 01-Jul-98 10-Jul-98 08-Aug-98 F
PT Datindo Entrycom 2001 4.41 09-Oct-02 10-Oct-02 14-Oct-02 28-Oct-02 F
Wisma Sudirman - Puri Datindo 2002 6.30 23-Oct-03 24-Oct-03 28-Oct-03 05-Nov-03 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2003 23.71 01-Jul-04 02-Jul-04 07-Jul-04 21-Jul-04 F
Phone : (021) 570-9009 2005 118.07 23-Jun-05 24-Jun-05 28-Jun-05 07-Jul-05
2006 72.50 19-Jun-07 20-Jun-07 22-Jun-07 02-Jul-07 F
1. Hartadi Agus Sarwono *) 2008 8.00 18-Jun-09 19-Jun-09 23-Jun-09 07-Jul-09 F
2. Anny Ratnawati *) 2009 9.44 25-Nov-09 26-Nov-09 01-Dec-09 11-Dec-09 I
3. Bistok Simbolon 2009 47.48 08-Jun-10 09-Jun-10 11-Jun-10 25-Jun-10 F
4. Joni Swastanto 2010 65.98 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
5. Ki Agus Ahmad Badaruddin *) 2011 62.48 10-May-12 11-May-12 15-May-12 30-May-12 F
6. Pataniari Siahaan *) 2012 113.35 26-Apr-13 29-Apr-13 01-May-13 16-May-13 F
7. Pradjoto *) 2013 145.71 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
8. Revrisond Baswir *) 2014 144.55 24-Mar-15 25-Mar-15 27-Mar-15 17-Apr-15 I
9. Wahyu Kuncoro 2015 122.53 17-Mar-16 18-Mar-16 22-Mar-16 13-Apr-16 F
ISSUED HISTORY
1. Achmad Baiquni No. Type of Listing Shares Date Date
2. Adi Sulistyowati 1. Negara RI (Seri A) 1 25-Nov-96 -
3. Anggoro Eko Cahyo 2. First Issue 1,085,032,000 25-Nov-96 25-Nov-96
4. Bob Tyasika Ananta 3. Company Listing 3,255,095,999 25-Nov-96 28-Jun-97
5. Herry Sidharta 4. Partial Delisting -43,401,280 02-Jul-99 02-Jul-99
6. Imam Budi Sarjito 5. Right Issue 151,904,480,000 05-Jul-99 05-Jul-99
7. Panji Irawan 6. Additional Listing 41,375,391,255 20-Apr-01 20-Apr-01
8. Putrama Wahju Setyawan 7. Partial Delisting -343,540,085 12-Dec-01 12-Dec-01
9. Rico Rizal Budidarmo 8. Reverse Split -184,084,187,364 23-Dec-03 23-Dec-03
10. Suprajarto 9. Right Issue 1,974,563,625 13-Aug-07 13-Aug-07
10. Partial Delisting -2,233,046 31-Aug-07 31-Aug-07
AUDIT COMMITTEE 11. Right Issue 3,340,968,788 29-Dec-10 29-Dec-10
1. Anny Ratnawati
2. Bambang Ratmanto
3. Donnaria Silalahi
CORPORATE SECRETARY
Kiryanto
HEAD OFFICE
BNI Building 24th Fl.
Jln. Jend. Sudirman Kav. 1
Jakarta 10220
Phone : (021) 572-8387
Fax : (021) 572-8053
Homepage : www.bni.co.id
Email : kiryanto@bni.co.id

TRADING ACTIVITIES
Bank Negara Indonesia (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
7,400 240 Jan-13 3,925 3,650 3,925 21,824 618,278 2,347,177 21
Feb-13 4,625 3,950 4,600 24,739 733,921 3,138,250 20
6,475 210 Mar-13 5,100 4,475 5,050 30,569 659,186 3,126,953 19
Apr-13 5,450 4,850 5,400 30,309 640,452 3,265,931 22
May-13 5,600 4,875 4,875 33,765 679,580 3,560,565 22
5,550 180
Jun-13 4,900 3,975 4,300 46,190 901,397 4,012,428 19
Jul-13 4,425 3,775 4,275 34,934 583,563 2,426,709 23
4,625 150
Aug-13 4,375 3,375 3,850 29,977 612,307 2,370,950 17
Sep-13 5,000 3,400 4,075 37,673 629,913 2,594,062 21
3,700 120
Oct-13 4,875 4,100 4,800 28,491 415,673 1,893,006 21
Nov-13 4,825 4,050 4,100 34,672 463,162 2,040,459 20
2,775 90 Dec-13 4,275 3,700 3,950 30,571 452,169 1,810,642 19
1,850 60 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
925 30 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
Jun-14 4,930 4,710 4,765 57,179 461,000 2,221,427 21
Jul-14 5,300 4,740 5,100 61,719 656,779 3,287,150 18
Aug-14 5,525 4,995 5,350 57,420 522,073 2,731,897 20
Sep-14 5,975 5,350 5,525 50,664 574,054 3,261,277 22
105%
Jan-15 6,300 5,725 6,250 59,023 605,276 3,684,362 21
90% Feb-15 7,075 6,175 6,875 58,356 468,870 3,156,997 19
Mar-15 7,225 6,550 7,225 80,139 703,023 4,829,845 22
75% 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
60% Jun-15 6,825 5,100 5,300 114,675 851,390 4,886,319 21
53.0%
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
45% 45.5%
Sep-15 4,890 3,800 4,135 140,264 796,672 3,494,776 21
Oct-15 5,375 4,075 4,755 110,116 767,305 3,708,085 21
30%
Nov-15 5,250 4,650 4,770 79,530 473,123 2,359,153 21
21.8% Dec-15 5,150 4,780 4,990 75,750 522,777 2,595,771 19
15%
Jan-16 5,200 4,850 4,910 75,208 565,592 2,816,764 20

- 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
-15% Apr-16 5,300 4,570 4,585 101,018 978,561 4,822,933 21
Jun-16 5,275 4,600 5,200 78,752 714,117 3,480,763 22
Jul-16 5,700 5,100 5,350 72,297 605,068 3,246,926 16
Frequency (Thou. X) 384 696 1,105 951 51 Nov-16 5,725 4,810 5,175 81,983 665,387 3,519,725 22
Days 244 242 244 246 21 Dec-16 5,650 5,200 5,525 50,052 323,755 1,747,808 20
Price (Rupiah) Jan-17 5,800 5,400 5,700 51,030 407,642 2,279,205 21

High 5,600 6,300 7,275 5,975 5,800
Low 3,375 3,660 3,800 4,270 5,400
Close 3,950 6,100 4,990 5,525 5,700
Close* 3,950 6,100 4,990 5,525 5,700
PER (X) 8.14 10.55 10.16 10.01 10.33

PER Industry (X) 17.20 27.72 25.09 20.71 21.21
PBV (X) 1.54 1.86 1.19 1.19 1.22

Cash on Hand 7,969,378 10,089,927 11,435,686 12,890,427 11,167,643 612,500

9,800,970 11,965,698 6,237,356 9,927,494 23,764,750 490,000
Loans 193,834,670 243,757,807 270,651,986 314,066,531 376,594,527
367,500
Investment 24,026 39,507 - 35,793 57,169
Fixed Assets 4,591,588 5,513,569 6,222,050 20,756,594 21,972,223
245,000
Other Assets 3,312,032 3,156,891 3,369,915 4,482,111 6,793,167
Total Assets 333,303,506 386,654,815 416,573,708 508,595,288 603,031,880 122,500
Growth (%) 16.01% 7.74% 22.09% 18.57%
-
Deposits 260,906,084 295,075,178 317,070,426 358,184,938 425,188,266 2012 2013 2014 2015 2016
Taxes Payable 171,716 323,957 317,563 749,396 150,770
Fund Borrowings 8,749,762 18,950,523 11,212,265 22,523,581 32,695,422
Growth (%) 16.98% 0.64% 20.98% 19.38% 89,254
78,438

71,046
Paid up Capital 9,054,807 9,054,807 9,054,807 9,054,807 9,054,807 47,684

43,525
18,649 18,649 18,649 18,649 18,649
52,838
Paid up Capital (Shares)

Par Value 7,500 & 7,500 & 375 7,500 & 7,500 & 375 7,500 & 7,500 & 375 7500 & 7500 & 375 7500 & 7500 & 375
34,631

Total Equity 43,525,291 47,683,505 61,021,308 78,438,222 89,254,000 16,423
Growth (%) 9.55% 27.97% 28.54% 13.79%

-1,785
2012 2013 2014 2015 2016

Growth (%) 16.50% 26.14% 10.58% 18.63%
8,445,813 9,440,904 10,715,356 8,872,380 9,962,683

43,768
Other Operating Revenue 36,895

34,840

Growth (%) 29.83% 18.96% -14.49% 24.69% 25,911 22,705
Non-Operating Revenues 258,539 59,362 178,019 54,067 73,573

16,982

8,053
Profit for the period 7,048,362 9,057,941 10,829,379 9,140,532 11,410,196 -875
Growth (%) 28.51% 19.56% -15.60% 24.83% 2012 2013 2014 2015 2016

11,410
11,410
10,829
RATIOS Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 9,058 9,141

Dividend (Rp) 113.35 145.71 144.55 122.53 - 9,083
7,048
EPS (Rp) 377.84 485.52 578.20 486.18 608.02
BV (Rp) 2,333.96 2,556.94 3,272.16 4,206.11 4,786.08
6,755
DAR (X) 0.87 0.88 0.82 0.81 0.82 4,427
DER(X) 6.66 7.11 5.59 5.26 5.52

ROA (%) 2.11 2.34 2.60 1.80 1.89 2,099
ROE (%) 16.19 19.00 17.75 11.65 12.78

OPM (%) 38.06 42.41 40.00 30.93 32.51
-228
2012 2013 2014 2015 2016

NPM (%) 31.04 34.24 32.46 24.77 26.07
Payout Ratio (%) 30.00 30.01 25.00 25.20 -
Yield (%) 3.06 3.69 2.37 2.46 -

COMPANY REPORT
BBRI
BANK RAKYAT INDONESIA (PERSERO) TBK.
Company Profile
Bank Rakyat Indonesia (BRI) is the oldest commercial bank in Indonesia, established on
December 16, 1895, in Purwokerto, Central Java. The stateowned bank went public in
2003 and the Indonesian government holds the majority of its shares with 57.32%,
followedbypublic.
Since its inception, BRIs strategies have been mostly focused on the development of
micro, small and medium business segments. In so doing, BRI takes into account its core
competencies at all organization level. With strategic positioning in Indonesian banking
industrysupportedbystrongbasisofcorecompetenciesinmicrobusinesssegmentsince
1984,BRIwillbeabletoachieveitsoptimalperformanceincomingyears.
AsofDecember2016,BRIservesitscustomersthroughmorethan10.000outletsspreads
alloverIndonesia
1HeadOffice
19RegionalOffices
1HeadofAuditOffice
19RegionalAuditOffices
462BranchesOffices
1SpecialBranch
4overseasoffices(CaymanIsland,Singapore,NewYork,HongKong)
609SubBranchOffices
5,380BRIUnits(MicroOutlet)
985CashCounters
3,180TerasBRI
3TerasShip
BRIprovideaccesstoitsbankingservicesthroughitselectronicchannel;
22,792ATMslinkedtoATMBersama,ATMPrima,ATMLink,Cirrus,andMaestro
187,758ElectronicDataCaptures(EDC)
892CashDepositMachine
57EBuzz
BRI Subsidiaries: PT Bank BRI Syariah, PT Bank Rakyat Indonesia Agroniaga Tbk., BRI
Remittance Co. Ltd. Hong Kong, PT Asuransi Jiwa Bringin Jiwa Sejahtera and PT BRI
MultifinanceIndonesia.Totalpermanentemployees58,885.
February 2017
Disclaimer:

BBRI BankRakyatIndonesia(Persero)Tbk.
6 | 286.4T | 4.98% | 37.12%
3 | 85.1T | 4.58% | 24.72%

Established Date : 16-Dec-1895 1. Negara Republik Indonesia 14,000,000,000 : 57.32%
Under Writer IPO :
PT Bahana Securuties DIVIDEND ANNOUNCEMENT
F/I
PT Datindo Entrycom Year Shares Dividend Cum Date Ex Date Date Date
Wisma Sudirman - Puri Datindo 2003 84.19 06-Jul-04 07-Jul-04 09-Jul-04 23-Jul-04 F
Phone : (021) 570-9009 2005 156.18 21-Jun-06 22-Jun-06 26-Jun-06 10-Jul-06 F
2007 196.34 18-Jun-08 19-Jun-08 23-Jun-08 07-Jul-08 F
1. Mustafa Abubakar 2009 132.08 28-Jun-10 29-Jun-10 01-Jul-10 15-Jul-10 F
2. Gatot Trihargo 2010 45.93 17-Dec-10 20-Dec-10 22-Dec-10 30-Dec-10 I
3. Adhyaksa Dault 2010 70.04 27-May-11 30-May-11 01-Jun-11 15-Jun-11 F
4. Ahmad Fuad 2011 122.28 26-Apr-12 27-Apr-12 01-May-12 15-May-12 F
5. A. Fuad Rahmany 2012 225.23 26-Mar-13 27-Mar-13 01-Apr-13 15-Apr-13 F
6. A. Sony Keraf 2013 257.33 28-Apr-14 29-Apr-14 02-May-14 14-May-14 F
7. Vincentius Sony Loho 2014 294.80 26-Mar-15 27-Mar-15 31-Mar-15 22-Apr-15 I
8. Jeffry W. Wurangin 2015 311.66 31-Mar-16 01-Apr-16 05-Apr-16 22-Apr-16 F
9. Mahmud
*) Independent Commissioners ISSUED HISTORY
Listing Trading
BOARD OF DIRECTORS No. Type of Listing Shares Date Date
1. Asmawi Syam 1. First Issue 4,764,705,000 10-Nov-03 10-Nov-03
2. Sunarso 2. Company Listing 6,882,352,950 T: 10-Nov-03 : 31-May-04
3. Randi Anto 3. MSOP Conversion 114,572,000 T: 24-Nov-04 : 11-Nov-05
4. Priyastamo 4. MSOP Conversion I & II 333,814,000 T: 16-Nov-05 : 11-Nov-08
5. Sis Apik Wijayanto 5. MSOP Conversion II 8,928,500 T: 25-Sep-06 : 12-Nov-09
6. Haru Koesmahargyo 6. MSOP Conversion I, II & III 59,421,500 T: 23-Nov-06 : 27-Dec-07
7. Mohammad Irfan 7. MSOP Conversion II & III 36,021,500 T: 24-Nov-06 : 26-Jun-09
8. Susy Liestiowaty 8. MSOP Conversion I 789,000 T: 09-Jan-07 : 13-Nov-08
9. Donsuwan Simatupang 9. MSOP Conversion III 13,836,000 T: 25-Jun-07 : 15-Nov-10
10. Zulhelfi Abidin 10. MSOP Conversion I & III 2,493,500 T: 21-Nov-07 : 08-Aug-08
11. Kuswiyoto 11. Delisting of shares Negara RI -5,698,760 07-Jan-11 07-Jan-11
12. Stock Split 12,211,235,190 11-Jan-11 11-Jan-11
AUDIT COMMITTEE
1. A. Fuad Rahmany
2. Adhyaksa Dault
3. A. Sony Keraf
4. Syahrir Nasution
5. Pamuji Gesang Raharjo
6. I Gde Yadnya Kusuma
CORPORATE SECRETARY
Hari Siaga Amijarso
HEAD OFFICE
BRI I Building, 20th Fl.
Jln. Jend. Sudirman No. 44 - 46
Jakarta 10210
Phone : (021) 251-0244, 250-0124, 251-0315
Fax : (021) 570-0916
Homepage : www.bri.co.id
Email : ir@bri.co.id

TRADING ACTIVITIES
Bank Rakyat Indonesia (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
14,000 160 Jan-13 8,000 7,000 7,950 49,574 820,165 6,223,729 21
Feb-13 9,450 7,900 9,450 38,683 620,764 5,227,378 20
12,250 140 Mar-13 9,450 8,500 8,750 47,866 684,003 5,985,374 19
Apr-13 9,400 8,250 9,400 45,151 778,102 6,767,136 22
May-13 9,950 8,900 8,900 50,832 689,578 6,403,815 22
10,500 120
Jun-13 8,850 7,050 7,750 92,127 1,301,703 10,051,448 19
Jul-13 8,350 7,150 8,250 61,555 762,741 5,927,722 23
8,750 100
Aug-13 8,450 6,250 6,600 75,898 1,110,192 7,784,877 17
Sep-13 8,650 6,200 7,250 80,681 1,165,249 8,756,072 21
7,000 80
Oct-13 8,500 7,250 7,900 60,781 735,834 5,882,615 21
Nov-13 8,050 7,200 7,450 66,249 674,880 5,169,069 20
5,250 60 Dec-13 7,750 6,750 7,250 60,169 589,234 4,213,752 19
3,500 40 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
1,750 20 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
Jun-14 10,400 9,850 10,325 73,158 668,924 6,771,119 21
Jul-14 12,200 10,100 11,200 91,236 838,066 9,411,432 18
Aug-14 11,375 10,600 11,050 96,070 733,194 8,022,874 20
Sep-14 11,175 10,150 10,425 91,480 785,001 8,367,361 22
105%
Jan-15 12,100 11,325 11,675 84,255 607,503 7,101,489 21
90% Feb-15 13,050 11,600 12,875 82,946 748,654 9,092,542 19
Mar-15 13,275 12,600 13,275 82,495 552,663 7,172,234 22
75% 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
66.3%
60% 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
45% 45.5%
Sep-15 10,550 7,975 8,650 132,204 851,245 7,855,562 21
Oct-15 11,700 8,550 10,525 135,157 824,964 8,421,137 21
30%
Nov-15 11,600 10,200 10,775 87,443 545,609 5,909,768 21
21.8% Dec-15 11,600 10,425 11,425 83,179 511,242 5,704,482 19
15%
Jan-16 11,825 10,750 11,225 88,556 492,583 5,607,189 20

- 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
-15% Apr-16 11,300 9,800 10,350 139,975 794,637 8,338,493 21
Jun-16 10,925 9,900 10,800 106,482 555,605 5,766,411 22
Jul-16 12,000 10,700 11,525 93,983 582,709 6,688,896 16
Frequency (Thou. X) 730 1,071 1,264 1,248 69 Nov-16 12,975 10,425 10,900 129,690 771,060 8,911,079 22
Days 244 242 244 246 21 Dec-16 11,875 10,775 11,675 88,419 473,130 5,347,045 20
Price (Rupiah) Jan-17 12,325 11,575 11,725 69,316 378,351 4,502,567 21

High 9,950 12,200 13,450 12,975 12,325
Low 6,200 7,000 7,975 9,525 11,575
Close 7,250 11,650 11,425 11,675 11,725
Close* 7,250 11,650 11,425 11,675 11,725
PER (X) 8.38 11.86 10.99 11.40 11.45

PER Industry (X) 17.20 27.72 25.09 20.71 21.21
PBV (X) 2.25 2.94 2.49 2.04 2.05

Cash on Hand 13,895,464 19,171,778 22,469,167 28,771,635 25,212,024 1,012,500

41,136,880 42,673,665 84,168,460 124,873,547 133,039,936 810,000
Loans 336,081,042 419,144,730 479,211,143 547,318,355 621,286,679
607,500
Investment 196,742 222,851 251,573 269,130 2,439
Fixed Assets 2,804,366 3,972,612 5,917,470 8,039,280 24,515,059
405,000
Other Assets 5,961,840 7,004,037 8,792,889 13,514,846 14,490,711
Total Assets 551,336,790 626,182,926 801,955,021 878,426,312 1,003,644,426 202,500
Growth (%) 13.58% 28.07% 9.54% 14.25%
-
Deposits 452,945,001 507,972,602 630,977,238 282,157,299 756,755,912 2012 2013 2014 2015 2016
Taxes Payable 895,695 1,266,018 59,805 1,497,262 942,401
Fund Borrowings 10,888,755 9,084,913 24,986,862 35,480,358 35,008,781
Growth (%) 12.42% 28.78% 8.67% 11.96% 146,813
113,127
Authorized Capital 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000
116,863
97,737
Paid up Capital 6,167,291 6,167,291 6,167,291 6,167,291 6,167,291 79,327
24,669 24,669 24,669 24,669 24,669
86,913
Paid up Capital (Shares) 64,882

Par Value 250 250 250 250 250 56,963

Total Equity 64,881,779 79,327,422 97,737,429 113,127,179 146,812,590 27,014
Growth (%) 22.26% 23.21% 15.75% 29.78%

-2,936
2012 2013 2014 2015 2016

Growth (%) 19.86% 26.34% 13.73% 7.86%

85,434
8,389,732 8,348,459 9,299,140 12,409,041 17,213,112
92,151

75,122
Growth (%) 15.19% 8.55% 7.58% 11.31% 54,554

49,610
Non-Operating Revenues 1,177,034 1,782,489 2,497,196 1,981,111 9,228

35,755

16,956
Growth (%) 14.27% 13.58% 4.77% 3.22% 2012 2013 2014 2015 2016

25,411 26,228
26,228
24,254
Dividend (Rp) 225.23 257.33 294.80 311.66 - 20,877
18,687
EPS (Rp) 757.26 865.22 982.67 1,029.53 1,061.88

BV (Rp) 2,630.08 3,215.65 3,961.93 4,585.77 5,951.26
15,527
DAR (X) 0.88 0.87 0.88 0.87 0.85 10,176
DER(X) 7.50 6.89 7.21 6.76 5.84

ROA (%) 3.39 3.41 3.02 2.89 2.61 4,826
ROE (%) 28.80 26.92 24.82 22.46 17.86

OPM (%) 45.72 43.94 37.75 35.72 36.86
-525
2012 2013 2014 2015 2016

NPM (%) 37.67 35.91 32.29 29.74 28.46
Payout Ratio (%) 29.74 29.74 30.00 30.27 -
Yield (%) 3.24 3.55 2.53 2.73 -

COMPANY REPORT
BBTN
BANK TABUNGAN NEGARA (PERSERO) TBK.
Company Profile
PTBankTabunganNegara(Persero)Tbk.orBankBTNwasestablishedin1897underthe
name of Postspaar Bank. The name was changed to Bank Tabungan Pos in 1950 and
finally became Bank Tabungan Negara in 1963. Bank BTN successfully done The Initial
Public Offering (IPO) and listed on the Indonesia Stock Exchange on 17 December 2009,
andwasthefirstIndonesianbanktosecuritizemortgagethroughAssetBackedSecurities
CollectiveInvestmentContracts(KIKEBA)scheme.BankBTNengagedinactivitiesbasedon
ShariaprinciplesonDecember15,2004.
Bank BTN is a fully commercial bank that focuses on the housing finance. Bank BTN has
been doing mortgage business for more than six decades of consistency by providing a
variety of housing products and services, particularly through the Home Ownership Loan
(mortgage), both Subsidized Mortgages for lowermiddle segment as well as Non
SubsidizedMortgagesformiddleanduppersegments.
As of December 31st, 2016, the Bank has 88 branch offices (including 23 sharia branch
offices), 279 subbranch offices (including 36 sharia subbranch offices), 483 cash offices
(including 6 sharia cash offices), and 2,951 SOPPs (System online Payment Point/online
Postoffice)(unaudited).
TheBankhaspermanentemployeesasofDecember31st,2016of8,561employees.
February 2017
Disclaimer:

BBTN BankTabunganNegara(Persero)Tbk.
54 | 20.0T | 0.35% | 75.00%
45 | 9.81T | 0.53% | 74.28%

Established Date : 30-Nov-1934 1. Negara Republik Indonesia 6,354,000,000 : 60.61%
Listing Date : 17-Dec-2009 2. Public (<5%) 4,130,100,000 : 39.39%
Under Writer IPO :
PT Mandiri Sekuritas DIVIDEND ANNOUNCEMENT
PT CIMB Securities Indonesia Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2009 15.09 10-Jun-10 11-Jun-10 15-Jun-10 29-Jun-10 F
Wisma Sudirman - Puri Datindo 2010 31.19 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2011 25.31 10-May-12 11-May-12 15-May-12 30-May-12 F
Phone : (021) 570-9009 2012 38.74 26-Apr-13 29-Apr-13 01-May-13 10-May-13 F
Fax : (021) 570-9026 2013 44.36 18-Mar-14 19-Mar-14 21-Mar-14 07-Apr-14 F
2014 21.11 31-Mar-15 01-Apr-15 06-Apr-15 24-Apr-15 I
BOARD OF COMMISSIONERS 2015 34.96 19-Apr-16 20-Apr-16 22-Apr-16 12-May-16 F
1. I Wayan Agus Mertayasa *)
2. Catherinawati Hadiman *) ISSUED HISTORY
3. Iman Sugema Listing Trading
4. Kamaruddin Sjam *) No. Type of Listing Shares Date Date
5. Lucky Fathul Aziz H. *) 1. First Issue 2,360,057,000 17-Dec-09 17-Dec-09
6. Maurin Sitorus 2. Company Listing 6,263,228,575 17-Dec-09 17-Dec-09
7. Sumiyati 3. MESOP Conversion I 124,368,000 T: 08-Feb-11 : 13-Aug-14
*) Independent Commissioners 4. MESOP Conversion I & II 5,670,000 T: 06-Feb-12 : 14-Aug-14
5. Right Issue 1,497,728,925 07-Dec-12 07-Dec-12
BOARD OF DIRECTORS 6. MESOP Conversion I, II & III 208,387,000 T: 07-Feb-13 : 17-Jul-13
1. Maryono 7. MESOP Conversion II & III 444,300 T: 14-Mar-14 : 14-Aug-15
2. Adi Setianto 8. MESOP Conversion III 7,759,500 T: 19-Mar-14 : 17-Mar-16
3. Catur Budi Harto 9. MESOP Conversion II 36,000 T: 22-Jul-14 : 18-Mar-15
4. Iman Nugroho Soeko 10. MESOP Conversion I & III 2,081,000 20-Aug-14 20-Aug-14
5. Irman A. Zahiruddin
6. Mansyur S. Nasution
7. Oni Febriarto R.
8. Sis Apik Wijayanto
9. Suils Usdoko
AUDIT COMMITTEE
1. Kamaruddin Sjam
2. I Wayan Agus Mertayasa
3. Rachmat Supratman
4. Sondang Gayatri
5. Sumiyati
6. Waldy Gutama
CORPORATE SECRETARY
Eko Waluyo
HEAD OFFICE
Menara Bank BTN
Jln. Gajah Mada No. 1
Jakarta 10130
Phone : (021) 633-6789; 2666; 6733; 231-0490
Fax : (021) 634-6704; 633-6737
Homepage : www.btn.co.id
Email : eko.waluyo@btn.co.id

TRADING ACTIVITIES
Bank Tabungan Negara (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
2,200 400 Jan-13 1,640 1,450 1,620 12,496 502,676 774,616 21
Feb-13 1,680 1,530 1,630 16,891 460,352 741,687 20
1,925 350 Mar-13 1,740 1,610 1,700 15,925 556,705 936,218 19
Apr-13 1,720 1,470 1,490 13,858 462,242 745,326 22
May-13 1,510 1,260 1,420 24,534 686,550 950,640 22
1,650 300
Jun-13 1,400 1,010 1,150 19,347 347,074 411,522 19
Jul-13 1,250 1,020 1,040 17,377 380,644 430,266 23
1,375 250
Aug-13 1,200 880 950 12,813 270,433 285,056 17
Sep-13 1,160 840 930 29,196 430,902 418,199 21
1,100 200
Oct-13 1,030 910 970 17,269 337,041 325,799 21
Nov-13 1,020 900 970 10,701 240,433 230,220 20
825 150 Dec-13 990 820 870 10,010 155,875 145,999 19
550 100 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
275 50 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
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
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
Finance Index Nov-14 1,155 1,090 1,130 16,256 447,183 498,895 20
60%
Jan-15 1,230 980 995 44,134 1,247,054 1,302,876 21
45% 45.5% Feb-15 1,095 990 1,070 47,590 1,549,165 1,615,293 19
Mar-15 1,270 1,060 1,255 40,326 1,207,915 1,392,206 22
30% Apr-15 1,250 1,080 1,115 28,932 701,031 823,389 21
28.7%
May-15 1,245 1,080 1,205 25,132 547,298 639,653 19
21.8%
15% 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
Oct-15 1,230 995 1,185 48,255 593,101 667,140 21
-15%
Nov-15 1,290 1,085 1,270 28,942 365,566 441,398 21
Dec-15 1,315 1,250 1,295 20,431 189,362 245,098 19
-30%
Jan-16 1,420 1,280 1,365 30,750 476,062 645,114 20

-45% 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
-60% Apr-16 1,780 1,625 1,760 42,592 485,258 833,245 21
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
Days 244 242 244 246 21 Dec-16 1,835 1,610 1,740 42,299 309,590 533,513 20
Price (Rupiah) Jan-17 1,930 1,695 1,905 42,012 348,275 647,126 21

High 1,740 1,525 1,315 2,100 1,930
Low 820 835 935 1,280 1,695
Close 870 1,205 1,295 1,740 1,905
Close* 870 1,205 1,295 1,740 1,905
PER (X) 5.88 12.64 7.33 8.52 9.33

PER Industry (X) 17.20 27.72 25.09 20.71 21.21
PBV (X) 0.80 1.08 0.99 1.02 1.11

Cash on Hand 694,941 924,451 920,482 1,181,219 1,006,682 225,000

1,013,796 4,201,682 5,436,970 1,807,561 4,171,700 180,000
Loans 75,410,705 99,330,214 114,345,618 136,905,226 162,330,347
135,000
Investment - - - - -
Fixed Assets 1,582,812 1,522,724 1,488,383 1,553,401 4,659,379
90,000
Other Assets 759,956 783,770 1,007,989 1,553,599 2,189,078
Total Assets 111,748,593 131,169,730 144,582,353 171,807,592 214,168,479 45,000
Growth (%) 17.38% 10.23% 18.83% 24.66%
-
Deposits 81,374,686 96,482,879 107,649,946 129,429,868 163,640,452 2012 2013 2014 2015 2016
Taxes Payable - - 115,260 - -
Fund Borrowings 6,737,260 7,073,035 6,998,213 7,726,728 4,999,616
Growth (%) 17.88% 10.63% 19.36% 23.48% 19,131
13,860
15,228
12,253
11,557
Paid up Capital 5,178,220 5,282,427 5,283,848 5,291,173 21,180 10,279
10,356 10,565 10,568 10,582 42
11,325

Par Value 500 500 500 500 500 7,423

Total Equity 10,278,871 11,556,753 12,252,895 13,860,107 19,130,536 3,520
Growth (%) 12.43% 6.02% 13.12% 38.03%

-383
2012 2013 2014 2015 2016

Growth (%) 22.27% 18.77% 16.86% 14.52%
571,494 763,983 894,820 1,106,526 1,282,822 14,966

17,139

12,807
Growth (%) 14.16% -26.15% 60.62% 32.31% 10,146
8,819
Non-Operating Revenues -7,767 4,862 1,960 8,281 -22,148

6,650

Provision for Income Tax 499,240 578,610 433,755 690,979 711,179
3,154
Profit for the period 1,363,962 1,562,161 1,145,572 1,850,907 2,618,905 -343
Growth (%) 14.53% -26.67% 61.57% 41.49% 2012 2013 2014 2015 2016

2,619
2,619
RATIOS Dec-12 Dec-13 Dec-14 Dec-15 Dec-16

Dividend (Rp) 38.74 44.36 21.11 34.96 - 2,085
1,851
EPS (Rp) 131.70 147.86 108.40 174.91 61,824.95 1,562

1,364
BV (Rp) 992.51 1,093.89 1,159.47 1,309.74 451,617.94
1,550
1,146
DAR (X) 0.91 0.91 0.92 0.92 0.91 1,016
DER(X) 9.87 10.35 10.80 11.40 10.20

ROA (%) 1.22 1.19 0.79 1.08 1.22 482
ROE (%) 13.27 13.52 9.35 13.35 13.69

OPM (%) 21.22 19.81 12.32 16.93 19.56
-52
2012 2013 2014 2015 2016

NPM (%) 15.47 14.49 8.94 12.37 15.28
Payout Ratio (%) 29.41 30.00 19.48 19.99 -
Yield (%) 2.67 5.10 1.75 2.70 -

COMPANY REPORT
BMRI
BANK MANDIRI (PERSERO) TBK.
Company Profile
Bank Mandiri was formed on 2 October 1998, as part of the government of Indonesias
bankrestructuringprogram.BankMandiriisthelargestbankinIndonesia.BankMandiri
offersacomprehensiverangeoffinancialsolutionstoprivateandstateownedlargeand
mediumcorporations,smallandmicrobusinessesaswellasretailconsumers.
Amidstthevariousexternalchallenges,MandiriGroupsuccessfullyachievedanumberof
importantmilestones.Inconnectionwiththevariousimprovementstobusinessprocesses,
Mandiri Group conducted disciplined supervision over the microfinancial and macro
external parameters so as to serve as an early warning system. The supervision process
was carried out proactively based on the principles of good corporate governance and
focusedonstrengtheningthefoundationsforachievingourgoalsinourthree(3)business
focusareas(wholesaletransactions,retaildepositsandpayments,andretailfinancing),as
wellasinternalcontrols,improvedriskmanagement,andenhancementstoinfrastructure
andhumanresources.
In line with the product development and the increasing complexity of transactions,
Management has also taken steps to optimize the Internal Audit function, both in
assuranceandadvisoryterms,byenhancingthecapacityofauditors.Suchcapacityisnot
just limited to auditing knowledge and skills, but also extends to knowledge of products
andbankingoperations.
AsofDecember31st,2016structureandthenumberofdomesticandoverseasofficesof
BankMandiri(Total2,605offices)areasfollows:
12thedomesticterritoryOffice
Branchesinthecountry:
o 79AreaOffice
o 1,237BranchOffice
o 1,084MandiriMitraUsahaOffices
o 199CashOutlet
6 Overseas branches (Cayman Islands, Singapore, Hong Kong, Timor Leste,
Shanghai(China)and1remittanceofficeinHongKong)
TotalnumberofBankMandiriemployeesasofDecember31st,2016,was38,940.
February 2017
Disclaimer:

BMRI BankMandiri(Persero)Tbk.
7 | 251.8T | 4.38% | 41.50%
5 | 77.7T | 4.18% | 33.43%

Established Date : 02-Oct-1998 1. Negara Republik Indonesia 14,000,000,000 : 60.61%
Listing Date : 14-Jul-2003 2. Public (<5%) 9,099,999,999 : 39.39%
Under Writer IPO :
PT ABN AMRO Asia Securities Indonesia Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2003 50.00 16-Dec-03 17-Dec-03 19-Dec-03 30-Dec-03 I
Wisma Sudirman - Puri Datindo 2003 115.00 11-Jun-04 14-Jun-04 16-Jun-04 30-Jun-04 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2004 60.00 16-Dec-04 17-Dec-04 21-Dec-04 30-Dec-04 I
Phone : (021) 570-9009 2005 70.50 13-Jun-05 14-Jun-05 16-Jun-05 24-Jun-05
2006 70.02 19-Jun-07 20-Jun-07 22-Jun-07 29-Jun-07 F
1. Wimboh Santoso 2008 88.55 26-May-09 27-May-09 29-May-09 12-Jun-09 F
2. Imam Apriyanto Putro 2009 19.26 02-Dec-09 03-Dec-09 07-Dec-09 22-Dec-09 I
3. Abdul Aziz 2010 19.64 21-Dec-10 22-Dec-10 27-Dec-10 30-Dec-10 I
4. Aviliani 2010 120.60 15-Jun-11 16-Jun-11 20-Jun-11 30-Jun-11 F
5. Askolani 2011 104.97 15-May-12 16-May-12 22-May-12 05-Jun-12 F
6. Goei Siauw Hong 2012 199.33 26-Apr-13 29-Apr-13 01-May-13 16-May-13 F
7. Bangun Sarwito Kusmuliono 2013 234.05 26-Mar-14 27-Mar-14 01-Apr-14 15-Apr-14 F
8. Ardan Adipermana 2014 212.91 23-Mar-15 24-Mar-15 26-Mar-15 17-Apr-15 I
*) Independent Commissioners 2015 261.45 29-Mar-16 30-Mar-16 01-Apr-16 22-Apr-16 F
BOARD OF DIRECTORS ISSUED HISTORY

1. Kartika Wirjoatmodjo Listing Trading
2. Sulaiman Arif Arianto No. Type of Listing Shares Date Date
3. Ogi Prastomiyono 1. First Issue 2,900,000,000 14-Jul-03 14-Jul-03
4. Pahala Nugraha Mansury 2. Company Listing 16,900,000,000 T: 14-Jul-03 : 30-Dec-03
5. Royke Tumilaar 3. MSOP Conversion 598,938,831 T: 26-Jul-04 : 09-Jan-07
6. Hery Gunardi 4. Partial delisting 1 % -9,955,000 06-Dec-05 06-Dec-05
7. Tardi 5. MSOP Conversion I & II 32,316,636 T: 11-Dec-06 : 15-Dec-06
8. Ahmad Siddik Badruddin 6. MSOP Conversion I 10,547,213 T: 21-Mar-07 : 16-Jul-08
9. Kartini Sally 7. MSOP Conversion I, II & III 105,564,065 T: 10-May-07 : 02-Jun-08
10. Rico Usthavia Frans 8. MSOP Conversion I & III 129,311,724 T: 14-May-07 : 28-May-08
9. MSOP Conversion II & III 33,502,868 T: 14-Nov-07 : 19-May-10
AUDIT COMMITTEE 10. MSOP Conversion III 86,224,280 T: 19-Nov-07 : 16-Dec-10
1. Aviliani 11. MSOP Conversion II 44,125 02-Jun-10 02-Jun-10
2. Askolani 12. Right Issue 2,313,505,257 02-Mar-11 02-Mar-11
3. Goei Siauw Hong
4. Ridwan Darmawan Ayub
5. Budi Sulistio
CORPORATE SECRETARY
Rohan Hafas
HEAD OFFICE
Plaza Mandiri
Jln. Jend. Gatot Subroto Kav. 36 - 38
Jakarta 12190
Phone : (021) 529-13321, 300-23166
Fax : (021) 526-3460
Homepage : www.bankmandiri.co.id
Email : cma@bankmandiri.co.id

TRADING ACTIVITIES
Bank Mandiri (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
14,000 240 Jan-13 9,050 8,000 9,050 36,696 517,167 4,358,835 21
Feb-13 10,150 8,700 10,050 33,818 567,187 5,224,978 20
12,250 210 Mar-13 10,050 9,450 10,000 38,478 570,412 5,577,493 19
Apr-13 10,750 9,800 10,500 33,768 525,014 5,402,910 22
May-13 10,550 9,700 9,700 47,425 748,146 7,579,728 22
10,500 180
Jun-13 9,900 8,250 9,000 68,921 871,631 7,848,472 19
Jul-13 9,050 7,450 8,900 68,683 837,483 7,032,852 23
8,750 150
Aug-13 8,900 6,250 7,100 67,391 1,083,003 8,108,305 17
Sep-13 10,300 6,550 7,950 73,619 1,026,893 8,219,662 21
7,000 120
Oct-13 8,950 8,050 8,600 59,726 755,875 6,413,599 21
Nov-13 8,600 7,350 7,650 67,113 754,337 5,883,592 20
5,250 90 Dec-13 8,000 7,300 7,850 41,923 370,112 2,853,587 19
3,500 60 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
1,750 30 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
Jun-14 10,250 9,625 9,725 62,399 585,096 5,798,770 21
Jul-14 11,000 9,625 10,250 87,146 885,176 9,132,248 18
Aug-14 10,650 10,025 10,375 59,900 443,282 4,620,858 20
Sep-14 10,700 9,825 10,075 67,815 578,571 5,988,220 22
75%
Jan-15 11,375 10,600 11,000 66,447 515,375 5,623,454 21
60% Feb-15 12,300 10,950 12,000 65,366 563,345 6,593,778 19
Mar-15 12,475 11,750 12,475 70,026 428,152 5,146,324 22
45% 45.5% 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
30% 32.1% 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
21.8%
Aug-15 10,075 8,125 9,100 117,687 957,499 8,726,356 20
15%
Sep-15 9,000 7,150 7,925 74,765 574,228 4,839,637 21
Oct-15 9,650 7,675 8,700 92,673 647,562 5,819,148 21
-
Nov-15 9,275 8,150 8,500 86,552 621,608 5,408,876 21
Dec-15 9,250 8,450 9,250 66,540 386,816 3,436,104 19
-15%
Jan-16 9,600 9,000 9,600 63,648 481,137 4,499,144 20

-30% 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
-45% Apr-16 10,450 9,200 9,650 103,785 640,026 6,220,689 21
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
Frequency (Thou. X) 638 872 967 1,073 58 Nov-16 11,900 10,025 10,500 105,708 623,662 6,719,559 22
Days 244 242 244 246 21 Dec-16 11,725 10,500 11,575 70,688 372,585 4,051,933 20
Price (Rupiah) Jan-17 11,600 10,900 10,900 58,199 353,534 3,936,579 21

High 10,750 11,000 12,550 11,950 11,600
Low 6,250 7,600 7,150 8,650 10,900
Close 7,850 10,775 9,250 11,575 10,900
Close* 7,850 10,775 9,250 11,575 10,900
PER (X) 10.06 13.05 10.51 16.86 15.88

PER Industry (X) 17.20 27.72 25.09 20.71 21.21
PBV (X) 2.06 2.54 1.81 1.77 1.66

Cash on Hand 15,286,190 19,051,934 20,704,563 25,109,124 22,906,775 1,050,000

10,769,775 26,802,548 40,465,158 43,641,564 55,419,454 840,000
Loans 370,570,356 450,634,798 505,394,870 564,393,595 56,551,643
630,000
Investment 11,366,225 616,821 766,524 646,753 829,945
Fixed Assets 7,002,690 7,645,598 8,928,856 9,761,688 35,663,290
420,000
Other Assets 7,339,965 8,908,732 11,239,398 11,292,727 11,557,238
Total Assets 635,618,708 733,099,762 855,039,673 910,063,409 1,038,706,009 210,000
Growth (%) 15.34% 16.63% 6.44% 14.14%
-
Deposits 456,854,700 521,439,569 600,980,756 634,968,568 711,399,426 2012 2013 2014 2015 2016
Taxes Payable 2,662,421 2,126,864 1,875,141 2,131,616 1,258,792
Fund Borrowings 11,608,832 15,997,188 24,227,104 33,764,671 35,882,757
Growth (%) 15.24% 16.43% -1.87% 12.00% 153,370
119,492
122,082
Paid up Capital 11,666,667 11,666,667 11,666,667 11,666,667 11,666,667 88,791

76,533
23,333 23,333 23,333 23,333 23,333
90,795

Par Value 500 500 500 500 500 59,507

Total Equity 76,532,865 88,790,596 104,844,562 119,491,841 153,369,723 28,220
Growth (%) 16.02% 18.08% 13.97% 28.35%

-3,067
2012 2013 2014 2015 2016

Growth (%) 18.00% 24.75% 14.26% 7.18%

71,570
11,897,822 14,686,637 14,687,815 18,378,678 19,286,425
76,710

62,638

42,550
Growth (%) 20.01% 10.30% 1.39% -29.33% 45,412
Non-Operating Revenues 878,821 510,126 29,909 30,458 -39,762

29,763

14,115
Growth (%) 17.37% 9.69% 2.41% -30.74% 2012 2013 2014 2015 2016

20,655 21,152
18,830
21,152
RATIOS Dec-12 Dec-13 Dec-14 Dec-15 Dec-16

16,044
Dividend (Rp) 199.33 234.05 212.91 261.45 - 16,837
14,650
EPS (Rp) 664.46 780.16 851.65 871.50 591.71
BV (Rp) 3,279.98 3,805.31 4,493.34 5,121.08 6,572.99
12,522
DAR (X) 0.88 0.88 0.88 0.81 0.79 8,207
DER(X) 7.31 7.26 7.16 6.16 5.38

ROA (%) 2.52 2.57 2.42 2.32 1.41 3,892
ROE (%) 20.96 21.21 19.70 17.70 9.55

OPM (%) 46.12 46.91 41.47 36.80 24.26
-423
2012 2013 2014 2015 2016

NPM (%) 37.70 37.50 32.97 29.55 19.10
Payout Ratio (%) 30.00 30.00 25.00 30.00 -
Yield (%) 2.46 2.98 1.98 2.83 -

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

PT Bumi Serpong Damai Tbk. was established in 1984 and started its commercial
operations in 1989. The Companys pupose and objective is to engage in real estate
developmentactivities.

Nowadays,theCompanyhasbecomealeadingpropertydeveloperinIndonesiawiththe
mainpropertyprojectssituatedinSerpong(BSDCity),anddiversifyingtoJakarta,Bekasi,
Cibubur, Surabaya, Medan and Balikpapan, also expanding to Samarinda, Manado and
Palembang.

Since2008,theCompanyhasbecomeapubliccompanythatlistedintheIndonesiaStock
Exchange. In end of 2010, the Company has done the acquisition process on affiliated
companies in PT Duta Pertiwi Tbk., PT Sinar Mas Teladan and PT Sinar Mas Wisesa. The
acquisition is expected to increase Companys performance particularly due to higher
revenueportfolioandbusinessdiversification.

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

February 2017
Disclaimer:

BSDE BumiSerpongDamaiTbk.[S]
28 | 35.2T | 0.61% | 63.70%
22 | 18.9T | 1.02% | 58.72%

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 DIVIDEND ANNOUNCEMENT
PT Sinarmas Sekuritas Bonus Cash Recording Payment
F/I
PT Sinartama Gunita 2008 4.00 01-Jul-09 02-Jul-09 06-Jul-09 22-Jul-09 F
Sinar Mas Land Plaza Menara I, 9th Fl. 2009 6.00 01-Jul-10 02-Jul-10 06-Jul-10 20-Jul-10 F
Jln. M.H. Thamrin No. 51, Jakarta 10350 2010 6.00 05-Jul-11 06-Jul-11 08-Jul-11 22-Jul-11 F
2014 15.00 13-May-15 15-May-15 19-May-15 05-Jun-15 F
BOARD OF COMMISSIONERS 2015 5.00 26-May-16 27-May-16 31-May-16 15-Jun-16 F
1. Muktar Widjaja
2. Susiyati Bambang Hirawan *) ISSUED HISTORY
3. Teddy Pawitra *) Listing Trading
4. Teky Mailoa No. Type of Listing Shares Date Date
5. Yoseph Fransciscus Bonang 1. First Issue 1,093,562,000 06-Jun-08 06-Jun-08
*) Independent Commissioners 2. Company Listing 9,842,060,870 06-Jun-08 01-Feb-09
3. Right Issue I 6,561,373,722 21-Dec-10 21-Dec-10
BOARD OF DIRECTORS 4. Add. Listing without Right Issue 874,849,800 16-May-14 16-May-14
1. Franciscus Xaverius Ridwan Darmali 5. Add. Listing without Right Issue 874,849,800 14-Apr-15 14-Apr-15
2. Hermawan Wijaya
3. Liauw Herry Hendarta
4. Lie Jani Harjanto
5. Michael J.P. Widjaja
6. Monik William
7. Petrus Kusuma
8. Syukur Lawigena
AUDIT COMMITTEE
1. Susiyati Bambang Hirawan
2. 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) 503-68368
Fax : (021) 5058-8270
Homepage : www.bsdcity.com
Email : christy.grassela@sinarmasland.com

TRADING ACTIVITIES
Bumi Serpong Damai Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,400 560 Jan-13 1,450 1,090 1,400 26,871 1,122,431 1,405,038 21
Feb-13 1,600 1,320 1,600 18,943 766,112 1,103,713 20
2,100 490 Mar-13 1,790 1,530 1,750 23,894 948,716 1,580,124 19
Apr-13 1,760 1,590 1,730 26,272 941,130 1,588,336 22
May-13 2,200 1,730 2,200 59,301 1,979,407 3,721,967 22
1,800 420
Jun-13 2,125 1,660 1,800 64,726 1,530,160 2,863,844 19
Jul-13 1,850 1,370 1,580 50,647 1,333,112 2,061,537 23
1,500 350
Aug-13 1,670 1,180 1,310 29,602 615,728 878,562 17
Sep-13 1,850 1,200 1,440 36,856 637,213 913,406 21
1,200 280
Oct-13 1,650 1,390 1,570 27,378 544,059 848,331 21
Nov-13 1,580 1,330 1,350 19,446 284,234 407,498 20
900 210 Dec-13 1,480 1,220 1,290 19,589 325,381 444,297 19
600 140 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
300 70 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
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
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
Property, Real Estate and Bulding Construction Index Nov-14 1,790 1,510 1,770 25,353 415,384 676,549 20
140%
Jan-15 2,185 1,790 2,020 54,447 1,380,570 2,725,175 21
120% Feb-15 2,230 1,990 2,220 53,279 819,829 1,719,779 19
Mar-15 2,220 1,995 2,135 62,387 862,616 1,783,198 22
100% 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
80% 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
64.9% Aug-15 1,845 1,285 1,605 50,155 345,195 555,520 20
60% 59.7%
Sep-15 1,605 1,235 1,405 52,164 309,768 451,821 21
Oct-15 1,795 1,380 1,620 48,845 539,657 893,122 21
40%
Nov-15 1,750 1,565 1,685 39,619 389,705 657,357 21
Dec-15 1,835 1,580 1,800 38,504 372,398 645,560 19
20% 21.8%
Jan-16 1,850 1,650 1,730 40,294 505,407 890,031 20

- 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
-20% Apr-16 2,005 1,795 1,850 46,125 1,220,928 2,300,898 21
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
Days 244 242 244 246 21 Dec-16 1,890 1,550 1,755 50,767 451,173 783,762 20
Price (Rupiah) Jan-17 1,900 1,705 1,830 50,289 616,470 1,115,405 21

High 2,200 1,895 2,230 2,380 1,900
Low 1,090 1,200 1,235 1,550 1,705
Close 1,290 1,805 1,800 1,755 1,830
Close* 1,290 1,805 1,800 1,755 1,830
PER (X) 8.39 7.76 16.19 21.87 22.81

PER Industry (X) 9.57 16.29 13.36 24.89 28.26
PBV (X) 1.68 1.89 1.57 1.44 1.51

Public Accountant : Mulyamin Sensi Suryanto & Lianny (Member of Moore Stephens International Limited)
Receivables 83,188 110,327 138,627 165,542 236,329

30,000
Inventories 3,374,802 3,796,776 5,239,017 6,547,652 7,355,689

22,500
Investment 769,378 1,652,477 5,735,418 6,332,810 5,733,130
Fixed Assets 415,371 437,868 607,790 803,253 813,315
15,000
Other Assets 415 415 415 415 415
Total Assets 16,756,718 22,572,159 28,134,725 36,022,148 37,182,150 7,500
Growth (%) 34.71% 24.64% 28.03% 3.22%
-
Trade Payable 177,681 95,715 158,055 316,601 288,358 2012 2013 2014 2015 Sep-16
Growth (%) 47.10% 5.51% 44.14% -1.03%
4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 22,097
Authorized Capital 23,400
Paid up Capital 1,749,700 1,749,700 1,837,185 1,924,670 1,924,670 18,473

18,626
Par Value 100 100 100 100 100 13,415

2,939,944 5,368,885 8,913,859 10,727,657 11,789,717
13,853
Retained Earnings 10,532

Total Equity 10,531,704 13,415,298 18,473,430 22,096,690 23,399,511 9,079
Growth (%) 27.38% 37.70% 19.61% 5.90%

4,306

Total Revenues 3,727,812 5,741,264 5,571,872 6,209,574 4,253,599
-468
2012 2013 2014 2015 Sep-16

Growth (%) 54.01% -2.95% 11.45%
Cost of Revenues 1,346,826 1,575,447 1,440,361 1,571,559 1,105,388

Gross Profit 2,380,986 4,165,817 4,131,511 4,638,016 3,148,211
Operating Expenses 949,431 1,256,190 1,499,935 2,090,606 1,592,972 6,210
5,741 5,572
1,431,555 2,909,627 2,631,576 2,547,410 1,555,239
6,210
Operating Profit
Growth (%) 103.25% -9.56% -3.20%
4,254
4,943
3,728
Other Income (Expenses) 221,921 322,189 8,170 -232,949 -307,268 3,676
Income before Tax 1,696,564 3,278,954 4,306,326 2,362,082 1,306,998

Tax 217,705 373,306 309,862 10,702 5,156
2,409

Growth (%) 96.48% 37.54% -41.16%
1,143
-124
Period Attributable 1,286,047 2,691,396 3,820,552 2,139,497 1,158,296 2012 2013 2014 2015 Sep-16
Comprehensive Income 1,480,581 2,909,347 3,994,332 2,346,110 1,305,701
RATIOS Dec-12 Dec-13 Dec-14 Dec-15 Sep-16 3,996
Dividend (Rp) 15.00 15.00 15.00 5.00 - 3,996
EPS (Rp) 84.52 166.07 217.53 122.17 67.64

2,906
BV (Rp) 601.91 766.72 1,005.53 1,148.08 1,215.77 3,181
DAR (X) 0.37 0.41 0.34 0.39 0.37 2,351
DER(X) 0.59 0.68 0.52 0.63 0.59

2,366
8.83 12.87 14.20 6.53 3.50 1,479

ROA (%) 1,551
1,302
ROE (%) 14.04 21.66 21.63 10.64 5.56
GPM (%) 63.87 72.56 74.15 74.69 74.01 735
OPM (%) 38.40 50.68 47.23 41.02 36.56

NPM (%) 39.67 50.61 71.73 37.87 30.61
-80
2012 2013 2014 2015 Sep-16

Payout Ratio (%) 17.75 9.03 6.90 4.09 -
Yield (%) 0.68 0.68 0.68 0.23 -

COMPANY REPORT
BUMI
BUMI RESOURCES TBK.
Company Profile
PTBumiResourcesTbk.wasestablishedonJune26th,1973.TheCompanycommencedits
commercialoperationonDecember17th,1979.

its scope of activities comprises exploration and exploitation of coal deposits (including
coal mining and selling) and exploration of oil. Currently, the Company is a holding
companyofsubsidiariesengagedinminingactivities.

The Company has direct and indirect share ownerships in the Subsidiaries, jointly
controlled entities and associates. The Company started commercial operations in 1982.
TheCompanyispartofBakrieGroup.

ExplorationandExploitationArea/DevelopmentatSenakin,Sangatta,Dairi,MuaraEnim,
Loa Ulung, Tombolilato, Molotabu, Poboya, Mauritania, Mafa Cost, Satui, Mulla/Asam
Asam,Batulicin,PulauLaut,Sarongga.

AsofSeptember30,2016,theGrouphad307employees.
February 2017
Disclaimer:

BUMI BumiResourcesTbk.
Development Board Individual Index : 28.903
58 | 18.2T | 0.32% | 76.32%
14 | 25.2T | 1.36% | 49.45%

Established Date : 26-Jun-1973 1. Credit Suisse AG SG Branch S/A Csagsing-LHHI 8,477,485,702 : 23.15%
Listing Date : 30-Jul-1990 2. PT Damar Reka Energi 2,300,000,000 : 6.28%
PT Ficorinvest
PT Pentasena Arthasentosa DIVIDEND ANNOUNCEMENT
PT Bank Pembangunan Indonesia Bonus Cash Recording Payment
F/I
PT Sinar Mas Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1991 50.00 26-May-92 27-May-92 04-Jun-92 06-Jul-92 F
PT Ficomindo Buana Registrar 1992 50.00 12-Mar-93 15-Mar-93 29-Mar-93 29-Apr-93 F
Mayapada Tower 10th Fl. Suite 02 B, Jln. Jend. Sudirman Kav. 28, 1993 50.00 29-Apr-94 02-May-94 09-May-94 09-Jun-94 F
Karet - Setiabudi, Jakarta 12920 1997 5:6 10-Sep-97 11-Sep-97 19-Sep-97 29-Sep-97 B
Phone : (021) 521-2316, 2317 1999 1.00 22-Jun-00 23-Jun-00 03-Jul-00 17-Jul-00 F
Fax : (021) 521-2320 2002 2.50 13-Aug-03 14-Aug-03 19-Aug-03 02-Sep-03 F
2005 5.00 09-Aug-05 10-Aug-05 12-Aug-05 18-Aug-05 I
1. Kusumo Abujono Martoredjo 2006 16.00 13-Jun-07 14-Jun-07 18-Jun-07 21-Jun-07 F
2. Anton Setianto Soedarsono 2007 33.00 22-Jun-07 25-Jun-07 27-Jun-07 02-Jul-07 I
3. Fuad Hasan Masyhur 2007 33.00 28-Aug-07 29-Aug-07 31-Aug-07 05-Sep-07 I
4. Iman Taufik 2007 11.00 28-Jul-08 29-Jul-08 01-Aug-08 07-Aug-08 F
5. Nalinkant A. Rathod 2008 50.60 29-Jul-09 30-Jul-09 03-Aug-09 18-Aug-09 F
6. Sulaiman Zuhdi Pane 2009 27.68 28-Jul-10 29-Jul-10 02-Aug-10 16-Aug-10 F
7. Suryo B. Sulistio 2010 41.78 27-Jul-11 28-Jul-11 01-Aug-11 15-Aug-11 F

1. Saptari Hoedaja Listing Trading
2. Andrew C. Beckham No. Type of Listing Shares Date Date
3. Dileep Srivastava 1. First Issue 10,000,000 30-Jul-90 30-Jul-90
4. Eddie J. Subari 2. Partial Listing 25,000,000 18-Mar-91 25-Mar-91
5. Kenneth P Farrell 3. Right Issue 10,000,000 30-Jun-93 30-Jun-93
6. R.A. Sri Dharmayanti 4. Stock Split 45,000,000 29-Sep-97 29-Sep-97
5. Bonus Shares 108,000,000 30-Sep-97 30-Sep-97
AUDIT COMMITTEE 6. Right Issue 594,000,000 24-Nov-97 24-Nov-97
1. Iman Taufik 7. Right Issue 18,612,000,000 26-May-00 26-May-00
2. Mulyadi 8. Additional Listing without RI 1,369,400,000 06-Oct-10 06-Oct-10
3. Myrnie Zachraini Tamin 9. Right Issue IV 15,853,620,427 07-Oct-14 07-Oct-14
CORPORATE SECRETARY
Dileep Srivastava
HEAD OFFICE
Bakrie Tower 12th Fl., Kompleks Rasuna Epicentrum
Jln. H.R Rasuna Said
Jakarta 12960
Phone : (021) 5794-2080
Fax : (021) 5794-2070
Homepage : www.bumiresources.com
Email : dileep@bumiresources.com

TRADING ACTIVITIES
Bumi Resources Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
1,200 4,000 Jan-13 690 580 680 25,957 966,108 630,675 21
Feb-13 1,040 640 820 96,495 4,744,248 4,125,438 20
1,050 3,500 Mar-13 850 680 690 41,629 2,279,196 1,747,600 19
Apr-13 790 650 670 42,449 1,676,796 1,200,956 22
May-13 790 620 660 32,090 1,550,772 1,085,006 22
900 3,000
Jun-13 660 490 550 33,065 1,003,108 563,368 19
Jul-13 550 455 510 26,637 957,298 484,931 23
750 2,500
Aug-13 530 390 410 21,195 733,738 316,508 17
Sep-13 550 395 455 42,079 1,786,082 826,654 21
600 2,000
Oct-13 520 445 455 24,323 721,194 339,778 17
Nov-13 460 285 290 47,037 2,731,643 1,006,794 20
450 1,500 Dec-13 375 270 300 42,428 2,490,053 808,137 19
300 1,000 Jan-14 353 288 307 36,714 1,182,499 397,806 20

Feb-14 337 294 325 38,773 1,154,888 368,927 20
150 500 Mar-14 331 267 269 74,907 2,346,636 712,888 20
Apr-14 273 187 204 71,568 2,665,199 606,945 20
May-14 235 188 200 42,093 1,874,461 400,934 18
Jun-14 209 126 170 56,155 2,374,478 397,867 20
Jul-14 194 150 189 43,629 2,063,432 353,101 18
Aug-14 207 176 195 44,577 1,922,859 372,638 20
Sep-14 204 183 190 40,900 6,525,767 1,102,351 18
Mining Index Nov-14 139 87 87 36,577 3,407,543 323,867 20
January 2013 - January 2017 Dec-14 92 52 80 78,720 5,900,373 477,002 20
100%
Jan-15 117 75 101 69,769 8,534,279 851,436 21
75% Feb-15 106 84 90 23,003 2,003,013 199,450 19
Mar-15 100 78 78 24,252 1,450,140 132,879 22
50% Apr-15 89 67 72 22,653 1,866,963 159,187 21
May-15 111 70 78 52,169 4,965,885 466,511 19
25% Jun-15 82 60 60 28,661 1,741,761 116,736 21
21.8%
Jul-15 64 50 50 30,184 2,286,012 128,611 19
Aug-15 50 50 50 986 329,605 15,324 20
-
Sep-15 50 50 50 466 305,495 16,211 21
-19.7% Oct-15 88 50 50 51,568 5,884,716 361,280 21
-25%
-28.4% Nov-15 51 50 50 3,025 403,793 39,777 21
Dec-15 50 50 50 615 719,569 62,793 19
-50%
Jan-16 50 50 50 364 447,139 22,786 20

-75% Feb-16 50 50 50 424 66,995 2,693 20
Mar-16 50 50 50 1,599 187,916 12,456 21
-100% Apr-16 50 50 50 773 218,326 9,405 21
Jan 13 Jan 14 Jan 15 Jan 16 Jan 17 May-16 50 50 50 898 516,930 78,165 20
Jun-16 90 50 68 109,103 15,255,825 1,119,412 22
Jul-16 - - 68 110 76,095 4,860 16
SHARES TRADED 2013 2014 2015 2016 Jan-17 Aug-16 - - 68 129 371,449 37,705 22
Volume (Million Sh.) 21,640 34,474 30,491 84,904 21,967 Sep-16 - - 68 116 74,384 17,430 20
Frequency (Thou. X) 475 611 307 779 224 Nov-16 322 206 290 342,556 33,234,728 9,104,141 22
Days 240 233 244 245 21 Dec-16 310 240 278 83,278 7,461,137 2,106,492 20
Price (Rupiah) Jan-17 520 264 498 223,683 21,967,073 8,837,507 21

High 1,040 353 117 322 520
Low 270 52 50 50 264
Close 300 80 50 278 498
Close* 300 80 50 278 498
PER (X) -0.83 13.52 -0.15 6.59 11.81

PER Industry (X) 20.76 3.23 0.60 -4.41 -2.64
PBV (X) -1.68 -0.75 -0.09 0.44 0.78

Public Accountant : Y. Santosa & Rekan
Cash & Cash Equivalents 1,404,335 1,444,413 849,926 117,078 72,366 100,000
Receivables 3,301,074 5,964,985 16,644,955 7,122,668 2,050,819

2,655,901 188 1,485,673 - - 80,000
Inventories
Current Assets 21,885,249 23,855,785 29,185,945 7,475,826 7,522,900
60,000
Fixed Assets 16,948,706 20,916,494 8,504,530 3,121,100 2,928,984
Other Assets 6,466,292 2,752,632 2,721,893 2,583,690 7,061,796
40,000
Total Assets 71,116,344 85,937,953 80,840,578 46,820,647 43,597,401
Growth (%) 20.84% -5.93% -42.08% -6.88% 20,000

Long Term Liabilities 42,574,437 31,741,917 5,408,378 11,380,537 12,074,163 2012 2013 2014 2015 Sep-16
Growth (%) 33.17% 0.34% -3.41% -7.10%
Paid up Capital 10,386,700 10,386,700 11,972,062 11,972,062 11,972,062 3,792
2013 2014 2015 Sep-16
2012
Par Value 500 500 500 & 100 500 & 100 500 & 100
-4,980
-3,717
Retained Earnings -4,187,500 -12,786,005 -17,784,007 -46,308,317 -42,686,590
-9,116
3,792,088 -3,717,313 -9,116,102 -40,070,352 -37,126,950
-13,753
Total Equity
Growth (%) N/A -145.23% -339.56% 7.35% -22,525
INCOME STATEMENTS Dec-12 Dec-13 Dec-14 Dec-15 Sep-16 -31,298
Total Revenues 36,509,261 43,526,898 34,647,530 558,747 234,905

Growth (%) 19.22% -20.40% -98.39% -37,127
-40,070
-40,070
Cost of Revenues 26,865,928 35,107,173 28,585,486 - -

Gross Profit 9,643,333 8,419,725 6,062,044 558,747 234,905
Expenses (Income) 5,499,282 5,597,047 5,279,118 688,063 271,531
Operating Profit 4,144,051 2,822,678 782,927 -129,316 -36,625 43,527
Growth (%) -31.89% -72.26% N/A

43,527
36,509
34,648
34,647
Other Income (Expenses) -10,096,571 -11,966,760 -4,638,316 -28,018,232 638,259

Income before Tax -5,952,520 -9,144,081 -3,855,389 -28,147,548 601,634 25,768
Tax 870,884 -1,044,612 1,938,601 1,998,969 -172,359

Profit for the period -6,823,404 -8,099,470 -5,793,990 -30,146,518 773,993
16,888
Growth (%) -18.70% 28.46% -420.31%

8,009
559 235
Period Attributable -6,442,244 -7,472,601 -4,825,021 -26,559,108 949,448 -871
Comprehensive Income -6,753,769 -8,528,990 -5,818,714 -30,159,020 686,334 2012 2013 2014 2015 Sep-16
Comprehensive Attributable -6,372,059 -7,896,488 -4,846,480 -26,567,058 876,687
RATIOS Dec-12 Dec-13 Dec-14 Dec-15 Sep-16 PROFIT FOR THE PERIOD (Bill. Rp)
Current Ratio (%) 88.43 41.19 34.52 9.90 10.96
2012 2013 2014 2015 774
Dividend (Rp) - - - - -
EPS (Rp) -310.12 -359.72 -131.73 -725.12 25.92 Sep-16
BV (Rp) 182.55 -178.95 -248.89 -1,094.01 -1,013.65 -5,410
DAR (X) 0.95 1.04 1.11 1.86 1.85 -6,823

-5,794
-8,099
DER(X) 17.75 -24.12 -9.87 -2.17 -2.17
-11,594
ROA (%) -9.59 -9.42 -7.17 -64.39 1.78 -17,778
ROE (%) -179.94 217.89 63.56 75.23 -2.08

GPM (%) 26.41 19.34 17.50 100.00 100.00 -23,962
OPM (%) 11.35 6.48 2.26 -23.14 -15.59

NPM (%) -18.69 -18.61 -16.72 -5,395.38 329.49
-30,147
-30,147
Payout Ratio (%) - - - - -
Yield (%) - - - - -

COMPANY REPORT
CPIN
CHAROEN POKPHAND INDONESIA TBK.
Company Profile
PT Charoen Pokphand Indonesia Tbk. was established dated January 7th, 1972. The
Companystarteditscommercialoperationsin1972.

TheCompanyisengagedinpoultryfeed,breedingandcultivationofbroilertogetherwith
its processing, processed food, preservation of chicken and beef including cold storage
units, selling poultry feed, chicken and beef, materials from animal sources within the
territoryofRepublicofIndonesia.

The Companys branches are located in Sidoardjo, Medan, Tangerang, Cirebon, Balaraja,
Serang,Lampung,Denpasar,Surabaya,Semarang,Makasar,andSalatiga.

TheCompanyhasdirectandindirectownershipinsubsidiaries:
PTCharoenPokphandJayaFarm,
PTPrimafoodInternational,
PTVistaGrain,
PTPolyPackagingIndustry,
PTFeprotamaPertiwi,
PTAgricoInternational,
PTSaranaFarmindoUtama,
PTSingaMasInternational,
PTPrimaRitelIndonesia,
PTPrimaPersadaPropertindo,
PtCentralavianPertiwi,
PTSatwaUtamaRaya,
PTVistaAgungKencana.

TheCompanyandSubsidiarieshad5,543employeesasofSeptember30th,2016.
February 2017
Disclaimer:

CPIN CharoenPokphandIndonesiaTbk.[S]
Industry Sector : Basic Industry And Chemicals (3) Listed Shares : 16,398,000,000
Industry Sub Sector : Animal Feed (36) Market Capitalization : 50,833,800,000,000
21 | 50.8T | 0.88% | 58.96%
70 | 5.79T | 0.31% | 83.92%

Established Date : 07-Jan-1972 1. PT Central Agromina 9,106,385,410 : 55.53%
Listing Date : 18-Mar-1991 2. Public (<5%) 7,291,614,590 : 44.47%
Under Writer IPO :
PT Danareksa DIVIDEND ANNOUNCEMENT
PT Makindo Bonus Cash Recording Payment
F/I
PT Asean Development Securities Year Shares Dividend Cum Date Ex Date Date Date
PT Surya Securities 1990 50.00 25-Jul-91 26-Jul-91 02-Aug-91 21-Aug-91 F
Securities Administration Bureau : 1991 175.00 03-Jun-92 04-Jun-92 15-Jun-92 22-Jun-92 F
PT Adimitra Jasa Korpora 1992 200.00 30-Oct-92 02-Nov-92 09-Nov-92 17-Nov-92 I
Rukan Kirana Boutique Office 1992 315.00 15-Jun-93 16-Jun-93 24-Jun-93 23-Jul-93 F
Jln. Kirana Avenue III Blok F3 No. 5, Kelapa Gading, Jakarta Utara 1993 200.00 02-Dec-93 03-Dec-93 10-Dec-93 20-Dec-93 I
Phone : (021) 2974-5222 1993 73.00 22-Jul-94 25-Jul-94 01-Aug-94 01-Sep-94 I
Fax : 1993 73.00 22-Jul-94 25-Jul-94 01-Aug-94 01-Sep-94 F
1994 155.00 13-Jul-95 14-Jul-95 24-Jul-95 10-Aug-95 F
BOARD OF COMMISSIONERS 1995 230.00 21-Sep-95 22-Sep-95 02-Oct-95 09-Oct-95 I
1. Hadi Gunawan Tjoe 1997 4:1 06-Jun-97 09-Jun-97 17-Jun-97 01-Jul-97 B
2. Herman Sugianto 1996 20.00 27-Aug-97 28-Aug-97 05-Sep-97 01-Oct-97 F
3. Rusmin Ryadi 1999 50.00 11-Sep-00 12-Sep-00 19-Sep-00 05-Oct-00 F
4. Suparman S. 2001 10.00 02-Aug-02 05-Aug-02 08-Aug-02 15-Aug-02 F
*) Independent Commissioners 2002 15.00 23-Sep-03 24-Sep-03 26-Sep-03 10-Oct-03 F
2006 38.00 30-Jul-07 31-Jul-07 02-Aug-07 16-Aug-07 F
BOARD OF DIRECTORS 2009 196.00 22-Jun-10 23-Jun-10 25-Jun-10 09-Jun-10 F
1. Tjiu Thomas Effendy 2010 39.80 16-Jun-11 17-Jun-11 21-Jun-11 05-Jul-11 F
2. Eddh Dharmawan Mansjoer 2011 42.00 07-Jun-12 08-Jun-12 12-Jun-12 26-Jun-12 F
3. Ferdiansyah Gunawan Tjoe 2012 46.00 28-Jun-13 01-Jul-13 03-Jul-13 17-Jul-13 F
4. Jemmy 2013 46.00 30-Jun-14 01-Jul-14 03-Jul-14 18-Jul-14 F
5. Ong Mei Sian 2014 18.00 26-Jun-15 29-Jun-15 01-Jul-15 15-Jul-15 F
6. Peraphon Prayooravong 2015 29.00 22-Jun-16 23-Jun-16 27-Jun-16 15-Jul-16 F
7. Vinai Rakphongphairoj
ISSUED HISTORY
AUDIT COMMITTEE Listing Trading
1. Herman Sugianto No. Type of Listing Shares Date Date
2. Harlan Budiono 1. First Issue 2,500,000 18-Mar-91 18-Mar-91
3. Kong Djung Hin 2. Partial Listing 5,000,000 18-Mar-91 18-Jun-91
4. Suparman S. 3. Company Listing 45,000,000 11-Nov-91 18-Nov-91
5. Yustinus Eddy Tiono 4. Convertible Bonds 839,738 20-Oct-94 20-Oct-94
5. Convertible Bonds 2,967,029 01-Dec-94 01-Dec-94
CORPORATE SECRETARY 6. Right Issue 56,306,767 07-Feb-95 07-Feb-95
Hadijanto Kartika 7. Stock Split 112,613,534 26-May-97 26-May-97
8. Bonus Shares 56,306,767 02-Jul-97 02-Jul-97
HEAD OFFICE 9. Stock Split 1,126,135,340 15-Jan-01 15-Jan-01
Jln. Ancol VIII/1 10. Right Issue 234,611,529 01-Aug-07 01-Aug-07
Jakarta 14430 11. Stock Split 1,642,280,704 01-Nov-07 01-Nov-07
Phone : (021) 692-7068 12. Stock Split 13,138,245,632 08-Dec-10 08-Dec-10
Fax : (021) 690-7324 13. Buy back -24,807,040 03-Jan-12 03-Jan-12
Homepage : www.cp.co.id
Email : hadijanto@cp.co.id

TRADING ACTIVITIES
Charoen Pokphand Indonesia Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
5,600 640 Jan-13 4,025 3,400 3,875 22,837 172,807 627,478 21
Feb-13 4,675 3,750 4,400 25,887 190,399 791,775 20
4,900 560 Mar-13 5,250 4,325 5,050 34,984 357,500 1,704,379 19
Apr-13 5,100 4,600 5,050 26,573 221,332 1,063,057 22
May-13 5,550 4,750 4,950 29,496 191,522 967,147 22
4,200 480
Jun-13 5,150 4,275 5,150 45,241 269,464 1,289,057 19
Jul-13 5,150 4,125 4,300 44,340 242,064 1,093,933 23
3,500 400
Aug-13 4,375 2,550 3,375 35,992 253,915 878,789 17
Sep-13 4,600 2,575 3,400 49,512 439,354 1,528,570 21
2,800 320
Oct-13 4,175 3,450 3,900 26,508 178,401 684,777 21
Nov-13 4,000 3,400 3,400 25,525 174,913 655,437 20
2,100 240 Dec-13 3,575 3,100 3,375 22,346 140,288 469,316 19
1,400 160 Jan-14 4,225 3,260 4,135 52,996 197,493 749,683 20

Feb-14 4,245 3,840 4,235 39,926 164,966 664,928 20
700 80 Mar-14 4,500 3,950 3,995 52,039 218,463 911,471 20
Apr-14 4,280 3,770 3,770 55,123 207,713 833,655 20
May-14 4,025 3,690 3,775 36,562 202,005 788,856 18
Jun-14 3,940 3,700 3,770 37,159 94,959 363,997 21
Jul-14 4,070 3,750 3,950 38,918 702,054 2,740,259 18
Aug-14 4,080 3,845 3,845 36,653 123,617 493,004 20
Sep-14 4,345 3,800 4,240 51,557 196,641 815,987 22
Basic Industry and Chemicals Index Nov-14 4,160 3,725 4,110 32,369 150,127 589,361 20
80%
Jan-15 4,025 3,725 3,955 47,230 169,097 657,060 21
60% Feb-15 3,925 3,740 3,785 39,903 181,862 693,947 19
Mar-15 3,830 3,345 3,545 45,919 172,460 631,070 22
40% Apr-15 3,695 2,820 2,835 50,293 137,795 460,367 21
May-15 3,395 2,700 3,140 46,791 135,282 412,951 19
20% 21.8% Jun-15 3,190 2,700 2,750 42,679 113,524 331,980 21
Jul-15 2,890 2,450 2,535 38,397 95,655 260,266 19
6.6% Aug-15 2,585 1,350 1,870 58,156 220,898 387,127 20
-
Sep-15 2,070 1,775 2,000 43,152 145,979 282,924 21
-13.9% Oct-15 2,605 2,010 2,500 44,798 146,431 353,477 21
-20%
Nov-15 3,390 2,410 3,165 46,862 147,436 433,827 21
Dec-15 3,400 2,600 2,600 65,525 195,345 577,969 19
-40%
Jan-16 3,400 2,605 3,345 54,758 196,108 586,715 20

-60% Feb-16 3,760 3,125 3,380 55,104 167,555 588,308 20
Mar-16 3,755 3,240 3,590 66,375 173,456 603,359 21
-80% Apr-16 3,785 3,460 3,715 38,617 91,824 335,213 21
Jun-16 3,890 3,440 3,750 50,908 127,875 474,601 22
Jul-16 4,020 3,710 3,750 44,219 131,059 505,901 16
Days 244 242 244 246 21 Dec-16 3,260 2,850 3,090 43,398 159,939 499,741 20
Price (Rupiah) Jan-17 3,270 2,990 3,100 33,052 80,470 255,466 21

High 5,550 4,500 4,025 4,020 3,270
Low 2,550 3,260 1,350 2,605 2,990
Close 3,375 3,780 2,600 3,090 3,100
Close* 3,375 3,780 2,600 3,090 3,100
PER (X) 21.87 27.14 23.21 15.23 15.28

PER Industry (X) 6.83 16.60 4.10 20.86 23.23
PBV (X) 5.56 5.68 3.39 3.47 3.48

Cash & Cash Equivalents 954,694 1,146,852 884,831 1,679,273 1,756,367 26,250
Receivables 1,846,576 2,531,089 3,522,209 3,339,849 2,796,256

3,366,317 4,044,737 4,333,238 5,454,001 6,185,698 21,000
Inventories
Current Assets 7,180,890 8,824,900 10,009,670 12,013,294 12,465,927
15,750
Fixed Assets 4,593,000 6,389,545 9,058,302 11,123,465 11,362,874
Other Assets 46,105 49,920 78,296 83,965 -
10,500
Total Assets 12,348,627 15,722,197 20,862,439 24,684,915 25,223,863
Growth (%) 27.32% 32.69% 18.32% 2.18% 5,250

Growth (%) 38.33% 71.87% 22.22% -12.41%
Paid up Capital 163,980 163,980 163,980 163,980 163,980 14,605
12,561
10,943
Par Value 10 10 10 10 10 9,951
11,625

8,176,464 9,950,900 10,943,289 12,561,427 14,604,555
8,646
Total Equity
Growth (%) 21.70% 9.97% 14.79% 16.27% 5,667
INCOME STATEMENTS Dec-12 Dec-13 Dec-14 Dec-15 Sep-16 2,687
Total Revenues 21,310,925 25,662,992 29,150,275 30,107,727 28,352,892

Growth (%) 20.42% 13.59% 3.28%
-292
2012 2013 2014 2015 Sep-16
Cost of Revenues 16,819,413 20,513,184 25,016,020 24,967,568 23,525,283

Gross Profit 4,491,512 5,149,808 4,134,255 5,140,159 4,827,609
Expenses (Income) 1,032,832 1,571,511 1,766,507 1,652,086 1,450,744
28,353
Growth (%) 8.66% -37.00% 47.32%
30,108
25,663
23,966
21,311
Other Income (Expenses) -82,181 -126,964 -260,856 -1,206,445 -269,392
Tax 695,627 922,643 360,248 449,030 604,385

11,682
Growth (%) -5.68% -30.93% 4.92%

5,540
Comprehensive Income 2,680,872 2,528,690 1,746,644 1,850,392 2,513,462 2012 2013 2014 2015 Sep-16
Current Ratio (%) 331.28 379.23 224.07 210.62 216.80
2,681
Dividend (Rp) 46.00 46.00 18.00 29.00 - 2,681
2,529 2,503
EPS (Rp) 163.68 154.34 106.52 112.02 152.15

BV (Rp) 498.63 606.84 667.36 766.03 890.63 2,134
1,833
1,747
DAR (X) 0.34 0.37 0.48 0.49 0.42
DER(X) 0.51 0.58 0.91 0.97 0.73
1,587
ROA (%) 21.71 16.08 8.37 7.42 9.92 1,040
ROE (%) 32.79 25.41 15.96 14.59 17.14

GPM (%) 21.08 20.07 14.18 17.07 17.03 493
OPM (%) 16.23 14.64 8.12 11.59 11.91

NPM (%) 12.58 9.85 5.99 6.09 8.83
-54
2012 2013 2014 2015 Sep-16

Payout Ratio (%) 28.10 29.80 16.90 25.89 -
Yield (%) 1.26 1.36 0.48 1.12 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
ELSA
ELNUSA TBK.
Company Profile
PT Elnusa Tbk. was established under the original name of PT Electronika Nusantara on
January25th,1969.

In accordance with the Companys Articles of Association, the scope of its activities is to
provide services, trading, mining, construction and industry. The Company started its
commercialoperationsinSeptember1969.

Currently,theCompanyisengagedinupstreamoilandgasservicesandinvestinginshares
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
managementandtelecommunicationservices.

TheCompanyalsoprovidesgoodsandservicestoitsSubsidiariesandrelatedpartiesand
providingandmanagingofficespaces.

The Company has ownership in subsidiaries: PT Sigma Cipta Utama, PT Elnusa Fabrikasi
Konstruksi,PTElnusaPetrofin,PTElnusaPatraRitel,PTPatraNusaData,PTElnusaTrans
Samudera,PTElnusaGeosainsIndonesiaandPTElnusaServices.

PTElnusaTbkiscommittedtobecomingacompanycapableofprovidingwiththebestand
integrated services in total solutions to the community. Therefore the company always
seekstoofferqualityservices,reliableinfrastructures,andefficientandknowledgebased
technology.Forthisreason,thecompanymaintainsintegrityineachofitsdecisionmaking
by means of selfappreciation, and appreciation to its customers, suppliers and
competitors.

PTElnusaTbktakeshighcareonqualityofproductsandservices.Thecompany'sreliable
infrastructure and commitment to efficiency in all of its business lines and activities has
becomeacapitalinmaterializingallthecompany'sproductsandservices.

The total number of employees 1,576 employees (1,285 permanent employees and 291
contractualemployees)atDecember31st,2016.

February 2017
Disclaimer:

ELSA ElnusaTbk.[S]
Industry Sub Sector : Crude Petroleum & Natural Gas Production (22) Market Capitalization : 3,152,952,000,000
200 | 3.15T | 0.05% | 95.07%
40 | 10.4T | 0.56% | 71.57%

Established Date : 25-Jan-1969 1. Perusahaan Pertambangan Minyak Dan Gas Bumi Negara (Pertamina) 3,000,000,000 : 41.10%
Listing Date : 06-Feb-2008 2. Dana Pensiun Pertamina - In House 2 1,087,407,500 : 14.90%
PT Mandiri Sekuritas
PT Datindo Entrycom Bonus Cash Recording Payment
F/I
Wisma Sudirman - Puri Datindo Year Shares Dividend Cum Date Ex Date Date Date
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2007 2.74 06-Jun-08 09-Jun-08 11-Jun-08 25-Jun-08 F
Fax : (021) 570-9026 2009 20.00 07-Jan-10 08-Jan-10 12-Jan-10 26-Jan-10 I
2009 25.00 28-Jul-10 29-Jul-10 02-Aug-10 16-Aug-10 F
BOARD OF COMMISSIONERS 2010 2.66 01-Jul-11 04-Jul-11 06-Jul-11 20-Jul-11 F
1. Syamsu Alam 2012 1.76 15-May-13 16-May-13 20-May-13 30-May-13 F
2. Budhi Himawan 2013 16.31 05-Jun-14 06-Jun-14 10-Jun-14 24-Jun-14 F
3. Hadi Budi Yulianto 2014 39.56 07-May-15 08-May-15 12-May-15 03-Jun-15 F
4. Pradana Ramadhian
5. Rinaldi Firmansyah ISSUED HISTORY
BOARD OF DIRECTORS 1. First Issue 1,460,000,000 06-Feb-08 06-Feb-08
1. Tolingul Anwar 2. Company Listing 5,838,500,000 06-Feb-08 06-Feb-08
2. Bambang Hermawan Kardono
3. Budhi Nugraha Pangaribuan
4. Budi Rahardjo
5. Helmy Said
AUDIT COMMITTEE
1. Pradana Ramadhian
2. Eddy Rachmadi
3. Reynold M Batubara
4. Serena Karlita Ferdinandus
CORPORATE SECRETARY
Fajriyah Usman
HEAD OFFICE
Graha Elnusa
Jln. T.B. Simatupang Kav. 1B
Jakarta 12560
Phone : (021) 788-30850
Fax : (021) 788-30970
Homepage : www.elnusa.co.id
Email : fusman@elnusa.co.id
fusman.elnusa@gmail.com

ELSA ElnusaTbk.[S]
TRADING ACTIVITIES
Elnusa Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
740 2,400 Jan-13 184 174 175 6,710 172,766 30,751 21
Feb-13 200 172 197 12,777 478,558 89,679 20
648 2,100 Mar-13 215 190 190 8,738 358,948 71,965 19
Apr-13 250 190 245 11,417 662,902 148,184 22
May-13 260 235 255 4,212 340,381 84,118 22
555 1,800
Jun-13 260 230 260 1,732 253,544 60,071 19
Jul-13 260 235 260 1,901 297,158 73,964 23
463 1,500
Aug-13 290 245 275 3,728 265,434 69,152 17
Sep-13 295 265 280 2,278 187,887 53,486 21
370 1,200
Oct-13 325 270 310 3,154 313,300 93,016 21
Nov-13 330 310 325 3,190 325,939 103,972 20
278 900 Dec-13 340 300 330 3,089 590,914 178,545 19
185 600 Jan-14 409 330 406 7,104 347,776 128,188 20

Feb-14 436 377 434 9,570 725,489 296,556 20
93 300 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
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
Aug-14 740 640 680 18,900 438,407 305,645 20
Sep-14 690 615 630 19,665 446,000 288,156 22
Closing Price*, Jakarta Composite Index (IHSG) and Oct-14 640 515 520 34,648 861,094 485,508 23
Mining Index Nov-14 685 482 670 59,886 2,156,892 1,251,481 20
330%
Jan-15 685 565 570 26,794 668,291 413,733 21
275% Feb-15 630 550 565 26,680 684,386 404,784 19
Mar-15 610 505 530 29,110 857,374 489,370 22
220% Apr-15 610 520 595 24,824 858,950 497,547 21
May-15 640 560 560 20,803 743,632 458,936 19
165% Jun-15 570 477 484 18,922 342,406 175,476 21
146.9% Jul-15 498 381 386 18,024 313,551 143,116 19
Aug-15 401 233 291 52,370 862,040 265,897 20
110%
Sep-15 449 284 334 67,875 1,161,431 438,049 21
Oct-15 415 337 344 53,833 819,086 304,832 21
55%
Nov-15 356 278 278 34,690 743,079 243,057 21
21.8% Dec-15 304 239 247 30,772 514,644 143,827 19
-
-28.4% Jan-16 250 173 230 57,762 1,524,894 320,229 20
-55% 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
-110% Apr-16 535 314 493 136,845 4,720,249 2,065,680 21
Jun-16 620 496 515 46,281 1,311,936 727,454 22
Jul-16 555 484 535 31,621 1,420,032 703,399 16
SHARES TRADED 2013 2014 2015 2016 Jan-17 Aug-16 575 486 500 48,607 1,842,786 969,841 22
Volume (Million Sh.) 4,248 14,085 8,569 24,536 974 Sep-16 505 418 456 53,164 1,821,558 834,180 21
Value (Billion Rp) 1,057 7,529 3,979 10,326 433 Oct-16 520 448 454 68,069 1,795,309 870,430 21
Frequency (Thou. X) 63 279 405 777 38 Nov-16 474 398 424 54,894 1,076,084 469,678 22
Days 244 242 244 246 21 Dec-16 486 418 420 55,729 1,388,009 633,629 20
Price (Rupiah) Jan-17 472 422 432 37,880 974,320 432,608 21

High 340 740 685 620 472
Low 172 330 233 173 422
Close 330 685 247 420 432
Close* 330 685 247 420 432
PER (X) 10.12 13.01 4.80 12.92 13.29

PER Industry (X) 20.76 3.23 0.60 -4.41 -2.64
PBV (X) 1.05 2.04 0.68 1.12 1.15

ELSA ElnusaTbk.[S]
Cash & Cash Equivalents 928,199 1,319,686 1,060,151 934,968 744,387 4,500
Receivables 1,118,512 957,924 930,446 790,000 713,885

92,725 102,555 114,830 127,890 130,532 3,600
Inventories
Current Assets 2,310,356 2,492,219 2,236,668 2,079,319 1,865,116
2,700
Fixed Assets 1,257,235 1,048,948 1,239,721 1,480,580 1,592,311
Other Assets 80,420 27,998 27,262 54,111 35,545
1,800
Total Assets 4,294,557 4,370,964 4,245,704 4,407,513 4,190,956
Growth (%) 1.78% -2.87% 3.81% -4.91% 900

Long Term Liabilities 565,862 525,653 284,397 323,742 59,032 2012 2013 2014 2015 2016
Growth (%) -7.39% -20.29% 6.59% -25.90%
Paid up Capital 729,850 729,850 729,850 729,850 729,850 2,878
2,583 2,635
Par Value 100 100 100 100 100
2,291
2,042
Retained Earnings 871,562 1,096,830 1,390,228 1,500,931 1,722,099

2,042,245 2,285,114 2,582,996 2,635,186 2,877,743
1,704
Total Equity
Growth (%) 11.89% 13.04% 2.02% 9.20% 1,117
INCOME STATEMENTS Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 530
Total Revenues 4,777,083 4,111,973 4,221,172 3,775,323 3,620,570

Growth (%) -13.92% 2.66% -10.56% -4.10%
-58
2012 2013 2014 2015 2016
Cost of Revenues 4,225,983 3,465,322 3,461,359 3,056,513 3,005,985

Gross Profit 551,100 646,651 759,813 718,810 614,585
Expenses (Income) 340,029 309,451 200,112 205,789 189,112
Growth (%) 4,221

4,777
4,112
3,775
3,803
3,621

Income before Tax 211,071 337,200 559,701 513,021 425,473 2,828
Tax 75,474 94,595 141,609 133,276 7,155

Profit for the period 135,597 242,605 418,092 379,745 316,066
1,854
Growth (%) 78.92% 72.33% -9.17% -16.77%

879
Period Attributable 127,920 238,060 412,428 375,364 310,911 -96
Comprehensive Income 135,597 242,605 418,092 375,831 318,798 2012 2013 2014 2015 2016
Current Ratio (%) 137.00 159.74 162.28 143.54 148.71
418
Dividend (Rp) 1.76 16.31 39.56 - - 418
380
EPS (Rp) 17.53 32.62 56.51 51.43 42.60
316
BV (Rp) 279.82 313.09 353.91 361.06 394.29 333
DAR (X) 0.52 0.48 0.39 0.40 0.31 243

DER(X) 1.10 0.91 0.64 0.67 0.46
248
ROA (%) 3.16 5.55 9.85 8.62 7.54 162 136

ROE (%) 6.64 10.62 16.19 14.41 10.98
GPM (%) 11.54 15.73 18.00 19.04 16.97 77
OPM (%) - - - - -
NPM (%) 2.84 5.90 9.90 10.06 8.73
-8
2012 2013 2014 2015 2016

Payout Ratio (%) 10.04 50.00 70.00 - -
Yield (%) 1.02 4.94 5.77 - -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
EXCL
XL AXIATA TBK.
Company Profile
PTXLAxiataTbk.whichpreviouslyknownasPTExcelcomindoPratamaTbk.,wasinitially
establishedunderthenamePTGrahametropolitanLestari,wasestablishedonOctober6th,
1989.

TheCompanysmajorityshareholder,AxiataInvestments(Indonesia)Sdn.Bhd.isawholly
owned subsidiary of Axiata Investments (Labuan) Limited. Axiata Investments (Labuan)
LimitedisasubsidiaryofAxiataGroupBerhad.

The Companys purpose is to provide telecommunications services and/or
telecommunicationsnetworksand/ormultimediaservices.TheCompanycommencedits
commercialoperationsin1996.

TheCompanyhasthesubsidiarieswhichwereestablishedforissuanceofbondsandloans:
GSMOne(L)Ltd.Malaysia,
GSMTwo(L)Ltd.Malaysia.

On26September2013,theCompanysignedaConditionalSalePurchaseAgreementofPT
AXIS Telekom Indonesia (AXIS) with Saudi Telecom Company (STC) and Teleglobal
InvestmentB.V.(Teleglobal).Undertheagreement,TeleglobalshallsellandtheCompany
shallpurchaseTeleglobalsshareownershipinAXISundercertainconditions.

On19March2014,theCompanyacquiredPTAXISTelekomIndonesia(AXIS)fromSaudi
Telecom Company (STC) and Teleglobal Investment B.V. (Teleglobal). The Company
accounts for the acquisition by applying the acquisition method. Subsequently, the
CompanyandAXIShasmerged,effectiveon8April2014.Attheeffectivedateofmerger,
allassetandliabilitiesofAXISweretransferredtotheCompanyandaccordingtolaw,the
legalentityofAXISwasdissolved.
February 2017
Disclaimer:

EXCL XLAxiataTbk.[S]
Industry Sector : Infrastructure, Utilities And Transportation (7) Listed Shares : 10,687,960,423
Industry Sub Sector : Telecommunication (73) Market Capitalization : 31,101,964,830,930
31 | 31.1T | 0.54% | 65.43%
43 | 10.1T | 0.54% | 73.22%

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%
Under Writer IPO :
PT CIMB Niaga Securities DIVIDEND ANNOUNCEMENT
PT GK Goh Indonesia Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2006 7.00 22-May-07 23-May-07 25-May-07 11-Jun-07 I
Wisma Sudirman - Puri Datindo 2007 20.00 28-Apr-08 29-Apr-08 02-May-08 16-May-08 F
Phone : (021) 570-9009 2011 129.88 20-Apr-12 23-Apr-12 25-Apr-12 09-May-12 F
Fax : (021) 570-9026 2012 135.00 02-May-13 03-May-13 07-May-13 22-May-13 F
2013 64.00 13-May-14 14-May-14 19-May-14 04-Jun-14 F
BOARD OF COMMISSIONERS
1. Muhamad Chatib Basri ISSUED HISTORY
2. Chari Tvt Listing Trading
3. Dato Sri Mohammed Shazalli bin Ramly No. Type of Listing Shares Date Date
4. David Robert Dean *) 1. First Issue 1,427,500,000 29-Sep-05 29-Sep-05
5. Mohd. Khairil Kevin Loh bin Abdullah 2. Company Listing 5,662,500,000 29-Sep-05 29-Sep-05
6. Peter J. Chambers *) 3. Right Issue 1,418,000,000 16-Dec-09 16-Dec-09
7. Yasmin Stamboel Wirjawan *) 4. Additional Listing without RI 10,566,332 26-Apr-11 26-Apr-11
8. Ybhg Dato Sri Jamaludin bin Ibrahim 5. Long Term Incentive Program 7,710,279 16-Apr-12 16-Apr-12
*) Independent Commissioners 6. Long Term Incentive Program 8,214,056 12-Apr-13 12-Apr-13
7. Long Term Incentive Program 6,891,003 21-Apr-15 21-Apr-15
BOARD OF DIRECTORS 8. Long Term Incentive Program 8,986,668 04-Apr-16 04-Apr-16
1. Dian Siswarini 9. Right Issue II 103,889,680 25-May-16 25-May-16
2. Mohamed Adlan bin Ahmad Tajudin 10. Right Issue II 1,453,844,085 26-May-16 26-May-16
3. Williem Lucas Timmermans 11. Right Issue II 20,855,009 27-May-16 27-May-16
4. Yessie D. Yosetya 12. Right Issue II 167,112,008 01-Jun-16 01-Jun-16
AUDIT COMMITTEE
1. Yasmin Stamboel Wirjawan
2. Haryanto Thamrin
3. Paul Capelle
CORPORATE SECRETARY
Murni Nurdini
HEAD OFFICE
Grha XL
Jln. DR. Ide Anak Agung Gde Agung Lot. E4 - 7 No. 1
Kawasan Mega Kuningan, Jakarta Selatan 12950
Phone : (021) 576-1881
Fax : (021) 576-1880
Homepage : www.xl.co.id
Email : murni@xl.co.id

TRADING ACTIVITIES
XL Axiata Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
7,000 240 Jan-13 5,900 4,975 5,000 12,646 136,402 745,434 21
Feb-13 6,000 4,975 5,450 20,158 170,736 921,705 20
6,125 210 Mar-13 5,450 5,150 5,250 12,633 159,235 841,208 19
Apr-13 6,050 5,000 5,100 20,992 382,743 2,040,764 22
May-13 5,250 4,575 5,000 17,351 260,528 1,312,833 22
5,250 180
Jun-13 4,950 4,200 4,825 16,274 170,260 780,647 19
Jul-13 4,850 4,225 4,500 12,273 119,887 548,178 23
4,375 150
Aug-13 4,525 3,750 4,475 12,814 150,302 643,652 17
Sep-13 4,925 3,975 4,250 24,599 183,487 809,028 21
3,500 120
Oct-13 4,900 4,125 4,475 14,003 127,756 584,006 21
Nov-13 5,200 4,400 5,000 14,996 111,870 535,369 20
2,625 90 Dec-13 5,250 4,725 5,200 12,087 73,628 366,722 19
1,750 60 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
875 30 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
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
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
Infrastructure, Utilities and Transportation Index Nov-14 5,525 4,980 5,100 27,877 126,255 658,998 20
45%
Jan-15 5,000 4,300 4,800 47,136 229,930 1,060,346 21
30% Feb-15 5,225 4,610 4,795 32,949 121,070 593,061 19
21.8% Mar-15 4,800 4,175 4,350 49,816 230,600 1,018,405 22
15% 16.3% 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
-15%
Sep-15 3,000 2,240 2,615 27,068 96,437 238,542 21
Oct-15 3,475 2,460 3,115 42,057 165,166 522,333 21
-30%
Nov-15 3,900 2,975 3,460 35,281 106,369 369,303 21
Dec-15 4,005 3,500 3,650 43,055 153,235 576,473 19
-45%
-48.2%
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
-75% Apr-16 4,010 3,440 3,520 40,185 78,577 298,065 21
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
Days 244 242 244 246 21 Dec-16 2,400 2,180 2,310 33,998 124,490 286,063 20
Price (Rupiah) Jan-17 2,980 2,250 2,910 36,546 206,007 557,924 21

High 6,050 7,075 5,225 4,275 2,980
Low 3,750 3,990 2,240 2,030 2,250
Close 5,200 4,865 3,650 2,310 2,910
Close* 5,129 4,799 3,600 2,310 2,910
PER (X) 42.97 -34.55 -1,230.41 115.94 146.06

PER Industry (X) 12.11 20.04 9.49 8.16 9.33
PBV (X) 2.90 2.97 2.21 1.18 1.48

Cash & Cash Equivalents 791,805 1,317,996 6,951,316 3,311,867 1,399,910 75,000
Receivables 597,077 1,332,444 264,902 1,285,195 662,711

49,807 49,218 77,237 78,979 161,078 60,000
Inventories
Current Assets 3,658,985 5,844,114 13,309,762 10,151,586 6,806,863
45,000
Fixed Assets 29,643,274 30,928,452 35,859,030 33,426,750 33,182,920
Other Assets 431,359 468,199 412,648 415,666 353,402
30,000
Total Assets 35,455,705 40,277,626 63,706,488 58,844,320 54,896,286
Growth (%) 13.60% 58.17% -7.63% -6.71% 15,000

Growth (%) 24.35% 99.16% -10.04% -24.73%
Paid up Capital 852,628 853,449 853,449 854,138 1,068,796 21,209

15,370 15,300
Par Value 100 100 100 100 100
16,882
13,961 14,092
15,370,036 15,300,147 13,960,625 14,091,635 21,209,145
12,556
Total Equity
Growth (%) -0.45% -8.75% 0.94% 50.51% 8,229
Total Revenues 20,969,806 21,265,060 23,460,015 22,876,182 21,341,425

Growth (%) 1.41% 10.32% -2.49% -6.71%
-424
2012 2013 2014 2015 2016
Cost of Revenues - - - - -
Gross Profit - - - 22,876,182 21,341,425
Expenses (Income) 16,617,343 19,606,772 23,031,603 19,736,905 19,654,551
Operating Profit 4,352,463 1,658,288 428,412 3,139,277 1,686,874 23,460 22,876
20,970 21,265 21,341
Growth (%) -61.90% -74.17% 632.77% -46.27%
23,460
18,674
Other Income (Expenses) -601,042 -268,621 -1,498,198 -3,769,803 -1,501,293

Income before Tax 3,751,421 1,389,667 -1,069,786 -630,526 185,581 13,888
Tax -986,774 356,850 178,723 -605,188 -189,935

Profit for the period 2,764,647 1,032,817 -891,063 -25,338 375,516
9,102
Growth (%) -62.64% N/A 97.16% N/A

4,317
Period Attributable 2,764,647 1,032,817 -891,063 -25,338 375,516 -469
Comprehensive Income 2,743,915 1,055,965 -917,315 7,871 396,549 2012 2013 2014 2015 2016
Comprehensive Attributable 2,743,915 1,055,965 -917,315 7,871 396,549
Current Ratio (%) 41.86 73.69 86.44 64.46 47.02
2,765
Dividend (Rp) 135.00 64.00 - - - 2,765
EPS (Rp) 324.25 121.02 -104.41 -2.97 35.13

BV (Rp) 1,802.67 1,792.74 1,635.79 1,649.81 1,984.40 2,034
DAR (X) 0.57 0.62 0.78 0.76 0.61

1,033
DER(X) 1.31 1.63 3.56 3.18 1.59
1,302
ROA (%) 7.80 2.56 -1.40 -0.04 0.68 571

376
ROE (%) 17.99 6.75 -6.38 -0.18 1.77 2014 2015
GPM (%) - - - 100.00 100.00 -160
2012 2013 -25 2016

OPM (%) 20.76 7.80 1.83 13.72 7.90
NPM (%) 13.18 4.86 -3.80 -0.11 1.76
-891
-891
Payout Ratio (%) 41.63 52.89 - - -
Yield (%) 2.37 1.23 - - -

COMPANY REPORT
GGRM
GUDANG GARAM TBK.
Company Profile
PT Gudang Garam Tbk. previously named as PT Perusahaan Rokok Tjap Gudang Garam
Kediri (PT Gudang Garam), was established on June 30th, 1971. The Company is a
continuation of a Proprietorship which was established in 1958. In 1969, the Company
changed its legal status to a Partnership and in 1971 it was further changed its existing
legalentityasaLimitedLiabilityCompany.Commercialoperationwascommencedin1958.
The Company is engaged in cigarette industry and other related cigarette industry
activities.PTSuryadutaInvestamaistheCompanysultimateparent.
The Companys Head Office is at Jl. 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 Jl. Jenderal A. Yani 79,
JakartaandSurabayaRepresentativeOfficeatJl.Pengenal715,Surabaya,EastJava.
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)andMachinemadeKretekCigarette(SKM)thathasbeendistributedboth
nationwideandworldwide.
Measuredbytotalasset,productssalesgain,numberofemployees,taxandcustomsand
other contributions, PT Gudang Garam Tbk. has become a national cigarette company
whichgivessignificantcontributionforIndonesia.

Thecompanyhasdirectownershipinsubsidiaries:
PTSuryaPamenang,
PTSuryaMadistrindo,
PTSuryaAir,
PTGrahaSuryaMedia,
PTSuryaIntiTembakau,
PTSuryaAbadiSemesta,
GalaxyPrimeLtd.
TheendofSeptember2016,theCompanyandsubsidiarieshad36,558employees.
February 2017
Disclaimer:

GGRM GudangGaramTbk.
Industry Sector : Consumer Goods Industry (5) Listed Shares : 1,924,088,000
Industry Sub Sector : Tobacco Manufacturers (52) Market Capitalization : 118,812,434,000,000
8 | 118.8T | 2.07% | 43.57%
12 | 25.6T | 1.38% | 46.73%

Established Date : 26-Jun-1958 1. Suryaduta Investama 1,333,146,800 : 69.29%
Listing Date : 27-Aug-1990 2. Suryamitra Kusuma 120,442,700 : 6.26%
Under Writer IPO : 3. Public (<5%) 470,498,500 : 24.45%
PT Danareksa
PT Multicorp DIVIDEND ANNOUNCEMENT
PT Merincorp Bonus Cash Recording Payment
F/I
PT Surya Securities Year Shares Dividend Cum Date Ex Date Date Date
PT Ficonensia 1991 150.00 12-Jul-91 15-Jul-91 20-Jul-91 09-Aug-91
Securities Administration Bureau : 1992 150.00 22-Jul-93 23-Jul-93 30-Jul-93 23-Aug-93 F
PT Raya Saham Registra 1993 155.00 06-Jul-94 07-Jul-94 14-Jul-94 13-Aug-94 F
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1995 1:1 25-Apr-96 26-Apr-96 06-May-96 03-Jun-96 B
1997 120.00 03-Jul-98 07-Jul-98 15-Jul-98 13-Aug-98 F
BOARD OF COMMISSIONERS 1998 260.00 05-Jul-99 06-Jul-99 14-Jul-99 11-Aug-99 F
1. Juni Setiawati Wonowidjojo 1999 500.00 06-Jul-00 07-Jul-00 17-Jul-00 31-Jul-00 F
2. Frank Willem Van Gelder *) 2000 500.00 27-Nov-00 28-Nov-00 05-Dec-00 19-Dec-00 I
3. Gotama Hengdratsonata *) 2001 300.00 02-Jul-02 03-Jul-02 08-Jul-02 19-Jul-02 F
4. Lucas Mulia Suhardja 2002 300.00 27-Jun-03 30-Jun-03 02-Jul-03 11-Jul-03 F
*) Independent Commissioners 2003 300.00 16-Jul-04 19-Jul-04 21-Jul-04 04-Aug-04 F
2005 500.00 21-Jul-05 22-Jul-05 26-Jul-05 08-Aug-05
1. Susilo Wonowidjojo 2006 250.00 23-Jul-07 24-Jul-07 26-Jul-07 09-Aug-07 F
2. Buana Susilo 2007 250.00 15-Jul-08 16-Jul-08 18-Jul-08 01-Aug-08 F
3. Herry Susianto 2008 350.00 14-Jul-09 15-Jul-09 17-Jul-09 30-Jul-09 F
4. Heru Budiman 2009 650.00 13-Jul-10 14-Jul-10 16-Jul-10 29-Jul-10 F
5. Istata Taswin Sidharta 2010 880.00 25-Jul-11 26-Jul-11 28-Jul-11 08-Aug-11 F
6. Lenga Nurullah 2011 1,000.00 30-Jul-12 31-Jul-12 02-Aug-12 16-Aug-12 F
7. Sony Sasono Rahmadi 2012 800.00 22-Jul-13 23-Jul-13 25-Jul-13 15-Aug-13 F
2013 800.00 06-Aug-14 07-Aug-14 11-Aug-14 25-Aug-14 F
AUDIT COMMITTEE 2014 800.00 03-Jul-15 06-Jul-15 08-Jul-15 30-Jul-15 F
1. Gotama Hengdratsonata 2015 2,600.00 28-Jun-16 29-Jun-16 01-Jul-16 22-Jul-16 F
2. Chetryana Gunardi
3. Tony Gunawan ISSUED HISTORY
Listing Trading
CORPORATE SECRETARY No. Type of Listing Shares Date Date
Heru Budiman 1. First Issue 57,807,800 27-Aug-90 27-Aug-90
2. Partial Listing 38,396,600 27-Aug-90 27-Feb-91
HEAD OFFICE 3. Founders Shares 375,197,600 31-May-94 31-May-94
Jakarta: Jln. Jend. A. Yani No. 79, Jakarta - 10510 4. Koperasi 9,620,000 31-May-94 00-Jan-00
Kediri: Jln. Semampir II/1 Kediri 64121 5. Stock Split 481,022,000 03-Jun-96 03-Jun-96
Phone : (021) 420-2460, 421-2018, 815-5154, 421-2018 6. Bonus Shares 962,044,000 04-Jun-96 05-Jun-96
Fax : (021) 424-3136, 421-2024, (0354) 681-555
Homepage : www.gudanggaramtbk.com
Email : corporate_secretary@gudanggaramtbk.com

TRADING ACTIVITIES
Gudang Garam Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
78,000 16.0 Jan-13 57,000 49,500 51,850 20,401 36,082 1,900,377 21
Feb-13 52,850 48,300 48,300 16,161 39,784 2,000,127 20
68,250 14.0 Mar-13 51,200 45,800 48,950 17,514 32,644 1,590,282 19
Apr-13 54,450 48,600 49,400 28,414 51,702 2,660,507 22
May-13 57,800 49,300 53,500 22,413 41,575 2,221,861 22
58,500 12.0
Jun-13 54,500 45,300 50,600 22,532 31,333 1,555,537 19
Jul-13 51,600 42,250 42,350 21,809 30,731 1,419,705 23
48,750 10.0
Aug-13 43,650 32,000 37,950 22,201 29,240 1,128,039 17
Sep-13 43,900 35,000 35,000 23,464 31,451 1,223,270 21
39,000 8.0
Oct-13 38,450 33,150 36,900 33,633 50,193 1,809,844 21
Nov-13 38,350 34,600 37,000 21,934 34,618 1,262,239 20
29,250 6.0 Dec-13 42,000 36,800 42,000 21,396 37,811 1,513,018 19
19,500 4.0 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
9,750 2.0 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
Jun-14 55,000 51,300 53,500 27,283 14,579 775,015 21
Jul-14 54,475 52,075 54,200 31,574 17,100 913,076 18
Aug-14 55,900 52,925 54,000 28,021 15,965 868,891 20
Sep-14 57,050 53,750 56,675 31,266 18,150 1,012,034 22
Consumer Goods Industry Index Nov-14 64,250 57,550 61,175 29,427 17,355 1,057,785 20
80%
Jan-15 64,000 51,900 57,800 51,790 31,660 1,822,015 21
60% Feb-15 58,500 53,400 53,425 34,568 20,001 1,112,549 19
Mar-15 55,325 47,525 51,000 46,689 28,926 1,510,900 22
46.7%
40% 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
20% 21.8% Jun-15 47,500 42,000 45,100 37,643 15,845 710,356 21
11.3% 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
Oct-15 47,800 41,950 42,950 59,672 36,514 1,616,201 21
-20%
Nov-15 52,650 42,925 48,900 62,483 33,338 1,609,672 21
Dec-15 55,000 48,275 55,000 42,043 26,125 1,352,426 19
-40%
Jan-16 59,000 52,550 58,350 48,532 30,319 1,683,368 20

-60% 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
-80% Apr-16 72,300 64,200 69,250 57,516 30,735 2,066,825 21
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
Volume (Million Sh.) 447 270 312 408 12 Sep-16 65,275 59,225 62,000 52,759 30,092 1,902,824 21
Value (Billion Rp) 20,285 14,031 15,434 26,537 770 Oct-16 67,975 62,500 67,900 49,877 31,931 2,009,656 21
Days 244 242 244 246 21 Dec-16 67,750 60,025 63,900 36,559 19,464 1,265,700 20
Price (Rupiah) Jan-17 65,600 61,750 61,750 30,623 12,128 769,625 21

High 57,800 64,250 64,000 77,950 65,600
Low 32,000 39,700 39,500 52,550 61,750
Close 42,000 60,700 55,000 63,900 61,750
Close* 42,000 60,700 55,000 63,900 61,750
PER (X) 18.67 21.67 16.44 20.04 19.37

PER Industry (X) 15.98 24.22 17.71 23.77 19.08
PBV (X) 2.75 3.66 2.78 3.27 3.16

Receivables 1,382,539 2,196,086 1,532,275 1,568,098 1,959,263

26,649,777 30,241,368 34,739,327 37,255,928 37,448,980 60,000
Inventories
Current Assets 29,954,021 34,604,461 38,532,600 42,568,431 41,752,219
45,000
Fixed Assets 10,389,326 14,788,915 18,973,272 20,106,488 20,546,986
Other Assets 1,122,077 1,318,730 604,404 639,170 401,098
30,000
Total Assets 41,509,325 50,770,251 58,220,600 63,505,413 62,817,278
Growth (%) 22.31% 14.67% 9.08% -1.08% 15,000

Growth (%) 43.28% 17.04% 2.02% -1.04%
Paid up Capital 962,044 962,044 962,044 962,044 962,044
33,229
38,008

Par Value 500 500 500 500 500
30,254
26,606

26,605,713 29,416,271 33,228,720 38,007,909 37,584,288
22,501
Total Equity
Growth (%) 10.56% 12.96% 14.38% -1.11% 14,747
Total Revenues 49,028,696 55,436,954 65,185,850 70,365,573 56,211,870

Growth (%) 13.07% 17.59% 7.95%
-760
2012 2013 2014 2015 Sep-16
Cost of Revenues 39,843,974 44,563,096 51,806,284 54,879,962 44,174,787

Gross Profit 9,184,722 10,873,858 13,379,566 15,485,611 12,037,083
Expenses (Income) 3,159,041 418,214 4,801,910 5,420,744 4,952,754
Operating Profit 6,025,681 6,691,722 8,577,656 10,064,867 7,084,329 70,366
65,186
Growth (%) 11.05% 28.18% 17.34%
70,366
55,437 56,212
56,011
49,029
Other Income (Expenses) -495,035 -755,518 -1,371,811 -1,429,592 -933,528
Tax 1,461,935 1,552,272 1,810,552 2,182,441 1,553,050

27,302
Growth (%) 7.75% 23.07% 19.60%

12,947
Current Ratio (%) 217.02 172.21 162.02 177.04 176.66
6,453
Dividend (Rp) 800.00 800.00 800.00 2,600.00 - 6,453
2,086.06 2,249.76 2,790.19 3,344.78 2,391.47 5,395

EPS (Rp)
BV (Rp) 13,827.70 15,288.42 17,269.85 19,753.73 19,533.56 4,598
4,384
5,136
4,069
DAR (X) 0.36 0.42 0.43 0.40 0.40
DER(X) 0.56 0.73 0.75 0.67 0.67
3,820
ROA (%) 9.80 8.63 9.27 10.16 7.32 2,504
ROE (%) 15.29 14.90 16.24 16.98 12.23

GPM (%) 18.73 19.61 20.53 22.01 21.41 1,187
OPM (%) 12.29 12.07 13.16 14.30 12.60

NPM (%) 8.30 7.91 8.28 9.17 8.18
-129
2012 2013 2014 2015 Sep-16

Payout Ratio (%) 38.35 35.56 28.67 77.73 -
Yield (%) 1.42 1.90 1.32 4.73 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
HMSP
HANJAYA MANDALA SAMPOERNA TBK.
Company Profile
PTHanjayaMandalaSampoernaTbk.wasestablishedonOctober19th,1963.

ThescopeofactivitiesoftheCompanycomprisesmanufacturingandtradingofcigarettes
andinvestinginothercompanies.TheCompanystarteditscommercialoperationsin1913
inSurabaya,asahomeindustry.In1930,thishomeindustrywasofficiallyorganisedunder
thenameofNVBMHandelMaatschapijSampoerna.TheCompanymadeapublicoffering
in1990.

The Company is domiciled in Surabaya and its plants are located in Surabaya, Pasuruan,
Malang,Karawang,andProbolinggo.TheCompanyalsohasacorporateofficeinJakarta.
employees.

TheCompanyisoneoftheleadingtobaccocompaniesinIndonesia.Itisthemakerofsome
of the most wellknown kretek (clove) cigarette brands such as Sampoerna Hijau,
SampoernaAMild,andthelegendaryKingofKretekDjiSamSoe.Infact,onMay18th,
2005, when the company was acquired by Philip Morris International, it became part of
one of the worlds largest tobacco companies. Today the Company distributes Marlboro,
theworldsbestsellingcigarettebrand,inIndonesia.

TheCompanyhasdirectandindirectownershipinanumberofsubsidiariesamongothers:
PTPerusahaanDagangdanIndustriPanamas,
PTSampoernaPrintpack,
PTHandalLogistikNusantara,
PTSampoernaIndonesiaSembilan,
PTUnionSampoernaDinamika,
PTTamanDayu,
PTGolfTamanDayu,
PTWahanaSampoerna,
SampoernaInternationalPte.Ltd.,
PTHarapanMajuSentosa,and
PTPersadaMakmurIndonesia.
February 2017
Disclaimer:

HMSP HMSampoernaTbk.
Industry Sub Sector : Tobacco Manufacturers (52) Market Capitalization : 447,824,596,065,000
1 | 447.8T | 7.79% | 7.79%
19 | 21.4T | 1.15% | 55.57%

Established Date : 27-Mar-1905 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%
Under Writer IPO :
PT Inter- Pacific DIVIDEND ANNOUNCEMENT
PT Multicorp Bonus Cash Recording Payment
F/I
PT Jardine Fleming Nusantara Finance Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1990 50.00 01-Aug-91 02-Aug-91 09-Aug-91 09-Sep-91 F
PT Sirca Datapro Perdana 1991 70.00 30-Jul-92 31-Jul-92 08-Aug-92 08-Sep-92 F
Jln. Johar No. 18 1992 100.00 25-May-93 26-May-93 03-Jun-93 28-Jun-93 I
Menteng, Jakarta 10340 1993 400.00 From 24-Dec-93 Until 18-Aug-94 F
Phone : (021) 314-0032, 390-5920, 390-0645 1993 2:3 01-Sep-94 02-Sep-94 09-Sep-94 27-Oct-94 B
Fax : (021) 314-0185, 390-0652, 390-0671 1994 200.00 01-Aug-95 02-Aug-95 11-Aug-95 09-Sep-95 F
1995 275.00 26-Jul-96 29-Jul-96 06-Aug-96 27-Aug-96 F
BOARD OF COMMISSIONERS 1996 150.00 25-Jul-97 28-Jul-97 05-Aug-97 27-Aug-97 F
1. John Gledhill 1999 500.00 From 16-May-00 Until 25-Aug-00 F
2. Goh Kok Ho 2000 350.00 26-Jul-01 27-Jul-01 03-Aug-01 22-Aug-01 F
3. Niken Kristiawan Rachmad 2001 25.00 08-Aug-02 09-Aug-02 14-Aug-02 27-Aug-02 F
4. RB. Permana Agung Dradjattun 2002 190.00 From 08-Apr-03 Until 07-Aug-03 F
5. Wayan Mertasana Tantra 2003 495.00 From 19-May-04 Until 09-Dec-04 F
*) Independent Commissioners 2004 175.00 23-Nov-04 24-Nov-04 26-Nov-04 09-Dec-04 F
2005 1,065.00 From 22-Jul-05 Until 04-Oct-06 F
BOARD OF DIRECTORS 2006 755.00 From 24-Nov-06 Until 17-Mar-08 F
1. Mindaugas Trumpaitis 2007 540.00 From 03-Sep-07 Until 25-Mar-09 F
2. Andre Dahan 2008 110.00 02-Dec-09 03-Dec-09 07-Dec-09 22-Dec-09 F
3. Ivan Cahyadi 2009 765.00 From 09-Feb-10 Until 29-Sep-10 F
4. Ivan Cahyadi 2010 1,640.00 From 13-Jun-11 Until 23-Dec-11 F
5. Michael Sandritter 2011 1,750.00 From 07-Dec-11 Until 27-Dec-12 F
6. Michael Scharer 2012 1,300.00 10-Jun-13 11-Jun-13 13-Jun-13 27-Jun-13 F
7. Mimi Kurniawan 2013 3,399.00 From 03-Dec-13 Until 23-Dec-14 F
8. Troy J. Modlin 2014 2,008.00 From 06-May-15 Until 09-Sep-15 F
9. Yos Adiguna Ginting 2015 2,225.00 04-May-16 09-May-16 11-May-16 27-May-16 F
AUDIT COMMITTEE ISSUED HISTORY

1. Goh Kok Ho Listing Trading
2. Hanafi Usman No. Type of Listing Shares Date Date
3. Raden Bagus Permana Agung Dradjattun 1. First Issue 27,000,000 15-Aug-90 15-Aug-90
2. Partial Listing 18,000,000 15-Aug-90 15-Feb-91
CORPORATE SECRETARY 3. Company Listing 135,000,000 15-Jun-92 15-Jun-92
Ike Andriani 4. Bonus Shares 270,000,000 28-Sep-94 28-Sep-94
5. Stock Split 450,000,000 18-Nov-96 18-Nov-96
HEAD OFFICE 6. Additional Listing 28,000,000 18-Jun-99 18-Jun-99
One Pacific Place 18th Fl., SCBD 7. Stock Split 3,712,000,000 24-Sep-01 24-Sep-01
Jln. Jend. Sudirman Kav. 52-53 8. Buy Back -140,000,000 17-Oct-01 17-Oct-01
Jakarta 12190 9. Buy Back -117,000,000 27-Sep-04 27-Sep-04
Phone : (021) 515-1234 10. Right Issue 264,209,711 27-Oct-15 27-Oct-15
Fax : (021) 515-2234 11. Right Issue 100,975 29-Oct-15 29-Oct-15
12. Right Issue 777,117 30-Oct-15 30-Oct-15
Homepage : www.sampoerna.co.id 13. Right Issue 1,934,982 02-Nov-15 02-Nov-15
Email : ike.andriani@sampoerna.com 14. Right Issue 2,317,462 03-Nov-15 03-Nov-15
15. Stock Split 111,665,353,824 14-Jun-16 14-Jun-16

TRADING ACTIVITIES
HM Sampoerna Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,600 320 Jan-13 63,500 59,100 63,300 96 186 11,678 18
Feb-13 74,900 63,250 74,900 178 486 33,411 20
4,025 280 Mar-13 84,500 74,900 84,500 232 236 18,861 19
Apr-13 85,100 82,350 84,300 145 636 51,331 21
May-13 88,000 84,500 87,500 132 209 17,941 19
3,450 240
Jun-13 87,500 79,500 85,000 156 116 9,564 16
Jul-13 85,000 80,000 82,000 53 42 3,458 12
2,875 200
Aug-13 81,000 59,500 65,500 551 558 40,238 17
Sep-13 70,000 64,000 65,400 165 115 7,657 19
2,300 160
Oct-13 68,400 64,000 66,900 142 126 8,216 21
Nov-13 68,100 64,000 65,000 123 134 8,761 18
1,725 120 Dec-13 66,000 59,750 62,400 285 249 15,132 19
1,150 80 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
575 40 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
Jun-14 69,000 66,000 67,300 343 276 18,618 21
Jul-14 71,600 67,100 69,700 254 188 13,058 17
Aug-14 70,650 67,000 70,650 210 173 12,026 18
Sep-14 72,500 70,000 72,000 116 74 5,352 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-14 72,100 70,000 71,100 146 85 6,047 21
Consumer Goods Industry Index Nov-14 71,500 69,250 69,850 253 246 17,359 20
January 2013 - January 2017 Dec-14 70,000 67,375 68,650 418 272 19,365 19
105%
Jan-15 68,650 66,250 67,200 294 99 6,683 21
90% Feb-15 66,900 64,900 65,200 269 1,889 121,465 19
Mar-15 73,850 64,900 73,475 562 440 29,284 21
75% 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
60% Jun-15 72,500 70,500 72,000 149 64 4,562 16
58.9%
Jul-15 90,050 70,500 83,450 1,318 584 47,679 19
46.7% Aug-15 84,850 71,000 76,000 633 291 22,329 20
45%
Sep-15 77,250 74,250 75,975 588 288 21,750 21
Oct-15 99,000 76,000 91,975 37,998 287,642 22,430,794 21
30%
Nov-15 101,900 91,900 101,900 51,731 54,195 5,310,744 21
21.8% Dec-15 102,000 91,025 94,000 21,935 11,202 1,078,449 19
15%
Jan-16 109,800 89,000 103,500 36,158 24,636 2,430,871 20

- 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
-15% Apr-16 102,850 92,500 99,875 50,409 24,529 2,391,750 21
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
Volume (Million Sh.) 3 2 357 2,457 266 Sep-16 4,250 3,760 3,950 53,596 529,459 2,103,398 21
Value (Billion Rp) 226 144 29,089 20,701 1,042 Oct-16 4,240 3,950 3,950 57,637 262,366 1,069,604 21
Days 219 233 234 218 21 Dec-16 - - - - - - -
Price (Rupiah) Jan-17 4,020 3,750 3,850 63,603 265,560 1,042,308 21

High 88,000 74,000 102,000 112,125 4,020
Low 59,100 60,000 64,900 3,560 3,750
Close 62,400 68,650 94,000 3,800 3,850
Close* 2,478 2,726 3,760 3,800 3,850
PER (X) 25.28 29.48 42.20 36.79 36.98

PER Industry (X) 15.98 24.22 17.71 23.77 19.08
PBV (X) 19.32 27.35 13.66 14.51 14.58

Cash & Cash Equivalents 783,505 657,276 65,086 1,718,738 5,056,183 43,750
Receivables 1,372,754 1,449,427 1,097,937 4,726,827 4,996,420

15,669,906 17,332,558 17,431,586 19,071,523 19,442,023 35,000
Inventories
Current Assets 21,128,313 21,247,830 20,777,514 29,807,330 33,647,496
26,250
Fixed Assets 4,115,078 4,708,669 5,919,600 6,281,176 6,895,483
Other Assets 468,924 574,203 804,448 844,896 870,447
17,500
Total Assets 26,247,527 27,404,594 28,380,630 38,010,724 42,508,277
Growth (%) 4.41% 3.56% 33.93% 11.83% 8,750

Growth (%) 2.40% 12.32% -59.72% 39.01%
Paid up Capital 438,300 438,300 438,300 465,272 465,272 34,175 32,016

Par Value 100 100 100 100 4
27,203

13,308,420 14,155,035 13,498,114 32,016,060 34,175,014
20,232
Total Equity 14,155

13,308 13,498
Growth (%) 6.36% -4.64% 137.19% 6.74% 13,260
Total Revenues 66,626,123 75,025,207 80,690,139 89,069,306 95,466,657

Growth (%) 12.61% 7.55% 10.38% 7.18%
-684
2012 2013 2014 2015 2016
Cost of Revenues 48,118,835 54,953,870 60,190,077 67,304,917 71,611,981

Gross Profit 18,507,288 20,071,337 20,500,062 21,764,389 23,854,676
Expenses (Income) 5,124,031 5,561,627 6,781,763 7,831,745 6,843,229
89,069
Growth (%)
95,467
80,690
75,025
75,991
66,626
Tax 3,437,961 3,691,224 3,537,216 3,569,336 4,249,218

37,041
Growth (%) 8.78% -5.89% 1.79% 23.15%

17,566
Comprehensive Attributable - 10,807,957 10,014,995 10,355,007 12,530,201
Current Ratio (%) 177.58 175.26 152.77 656.74 523.41
12,762
Dividend (Rp) 1,300.00 3,399.00 2,008.00 2,225.00 -
10,818
EPS (Rp) 2,269.06 2,468.28 2,322.86 2,227.36 109.72 9,945 10,181 10,363
BV (Rp) 3,036.37 3,229.53 3,079.65 6,881.14 293.81 10,159
DAR (X) 0.49 0.48 0.52 0.16 0.20

DER(X) 0.97 0.94 1.10 0.19 0.24
7,555
ROA (%) 37.89 39.48 35.87 27.26 30.02 4,952
ROE (%) 74.73 76.43 75.43 32.37 37.34

GPM (%) 27.78 26.75 25.41 24.44 24.99 2,348
OPM (%) - - - - -
NPM (%) 14.93 14.42 12.62 11.64 13.37
-255
2012 2013 2014 2015 2016

Payout Ratio (%) 57.29 137.71 86.45 99.89 -
Yield (%) 2.17 5.45 2.92 2.37 -

COMPANY REPORT
ICBP
INDOFOOD CBP SUKSES MAKMUR TBK.
Company Profile
PTIndofoodCBPSuksesMakmurTbk.wasestablishedonSeptember2nd,2009.

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

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

The Companys head office is located in Jakarta, while the Company and its Subsidiaries
factoriesarelocatedinvariouslocationsinJava,Sicumatera,Kalimantan,SulawesiIslands
andMalaysia.

PTIndofoodSuksesMakmur,Indonesia,andFirstPacificCompanyLimited,HongKong,are
theparententityandtheultimateparententity,respectively,oftheCompany.

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

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
MitraBahariMakmur,PTIndofoodComsaSuksesMakmur,PTIndoOjiSuksesPratama.

The longterm investment in the associated entity are PT Nestle Indofood Citarasa
Indonesia,PTAsahiIndofoodBeverageMakmurandPTPrimaCahayaIndobeverages.As
ofSeptember30th,2016,theGrouphad28,858employees.
February 2017
Disclaimer:

ICBP IndofoodCBPSuksesMakmurTbk.[S]
Industry Sub Sector : Food And Beverages (51) Market Capitalization : 97,960,027,200,000
10 | 98.0T | 1.70% | 47.11%
32 | 12.7T | 0.68% | 66.83%

Established Date : 02-Sep-2009 1. PT Indofood Sukses Makmur 9,329,526,000 : 80.00%
Under Writer IPO :
PT Kim Eng Securities DIVIDEND ANNOUNCEMENT
PT Credit Suisse Securities Indonesia Bonus Cash Recording Payment
F/I
PT Deutsche Securities Indonesia Year Shares Dividend Cum Date Ex Date Date Date
PT Mandiri Sekuritas 2010 116.00 21-Jun-11 22-Jun-11 24-Jun-11 07-Jul-11 F
Securities Administration Bureau : 2011 169.00 13-Jul-12 16-Jul-12 18-Jul-12 31-Jul-12 F
Plaza Central Building 2nd Fl. 2014 222.00 18-May-15 19-May-15 21-May-15 09-Jun-15 F
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 2015 256.00 10-Jun-16 13-Jun-16 15-Jun-16 24-Jun-16 F
Phone : (021) 252-5666
Fax : (021) 252-5028 ISSUED HISTORY
Listing Trading
BOARD OF COMMISSIONERS No. Type of Listing Shares Date Date
1. Franciscus Welirang 1. First Issue 1,166,191,000 07-Oct-10 07-Oct-10
2. A. Prijohandojo Kristanto *) 2. Company Listing 4,664,763,000 07-Oct-10 07-Apr-11
3. Florentinus Gregorius Winarno *) 3. Stock Split 5,830,954,000 27-Jul-16 27-Jul-16
4. Hans Kartikahadi *)
5. Alamsyah
6. Moleonoto (Paulus Moleonoto)
BOARD OF DIRECTORS
1. Anthoni Salim
2. Axton Salim
3. Darmawan Sarsito (Kevin Sietho)
4. Hendra Widjaja
5. Suaimi Suriady
6. Sulianto Pratama
7. Taufik Wiraatmadja
8. Tjhie Tje Fie (Thomas Tjhie)
9. Werianty Setiawan
AUDIT COMMITTEE
1. Hans Kartikahadi
2. A. Prijohandojo Kristanto
3. Hendra Susanto
CORPORATE SECRETARY
Gideon Ariprastomo Putro
HEAD OFFICE
Sudirman Plaza, Indofood Tower 25th Fl.
Jln. Jend. Sudirman Kav. 76 - 78
Jakarta 12910
Phone : (021) 5795-8822
Fax : (021) 5793-7373
Homepage : www.indofoodcbp.com
Email : gideon.putro@icbp.indofood.co.id

TRADING ACTIVITIES
Indofood CBP Sukses Makmur Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
12,000 64.0 Jan-13 8,700 7,600 8,000 8,421 69,143 552,825 21
Feb-13 8,650 7,900 8,500 7,470 78,410 638,909 20
10,500 56.0 Mar-13 9,900 8,200 9,600 13,589 108,935 974,749 19
Apr-13 11,700 9,500 11,450 23,016 106,833 1,118,431 22
May-13 13,400 11,500 13,100 35,135 183,672 2,300,353 22
9,000 48.0
Jun-13 13,000 9,850 12,200 26,910 111,166 1,270,060 19
Jul-13 12,500 10,350 11,200 20,502 81,983 913,934 23
7,500 40.0
Aug-13 11,650 8,700 10,000 15,325 68,204 680,778 17
Sep-13 12,200 8,900 10,250 19,020 91,623 932,990 21
6,000 32.0
Oct-13 11,500 10,200 11,200 15,121 73,454 805,810 21
Nov-13 11,300 9,750 10,000 19,144 71,526 740,344 20
4,500 24.0 Dec-13 10,300 9,550 10,200 12,888 36,835 368,146 19
3,000 16.0 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
1,500 8.0 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
Jun-14 10,275 9,875 10,000 21,362 46,268 465,777 21
Jul-14 10,575 9,950 10,450 21,883 78,643 812,824 18
Aug-14 10,650 10,100 10,500 27,066 74,737 781,831 20
Sep-14 11,400 10,500 11,350 25,934 57,043 629,638 22
Consumer Goods Industry Index Nov-14 11,450 10,800 11,250 18,187 56,536 624,570 20
175%
Jan-15 16,050 12,450 14,500 33,591 90,954 1,243,010 21
150% Feb-15 14,650 13,900 14,300 28,064 53,007 751,753 19
Mar-15 15,500 14,025 14,675 38,018 88,680 1,289,971 22
125% 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
110.0%
100% 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
75%
Sep-15 13,175 10,900 12,400 28,987 42,367 523,143 21
Oct-15 13,800 12,050 13,200 37,513 65,176 848,257 21
50%
46.7% Nov-15 13,500 11,925 12,625 32,730 48,234 616,032 21
Dec-15 13,600 11,325 13,475 26,651 37,590 470,086 19
25%
21.8%
Jan-16 14,900 12,850 14,450 37,740 60,286 851,215 20
- 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
-25% Apr-16 15,600 14,125 15,275 37,415 56,794 850,608 21
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
Volume (Million Sh.) 1,082 899 735 1,093 93 Sep-16 10,275 8,975 9,475 69,142 176,081 1,670,088 21
Days 244 242 244 246 21 Dec-16 9,025 7,550 8,575 47,590 94,406 795,561 20
Price (Rupiah) Jan-17 8,825 8,350 8,400 34,645 93,349 800,266 21

High 13,400 13,400 16,050 18,025 8,825
Low 7,600 9,800 10,900 7,550 8,350
Close 10,200 13,100 13,475 8,575 8,400
Close* 5,100 6,550 6,738 8,575 8,400
PER (X) 26.73 27.67 26.18 26.48 25.94

PER Industry (X) 15.98 24.22 17.71 23.77 19.08
PBV (X) 4.48 5.26 4.79 5.61 5.50

Receivables 2,328,181 2,549,415 2,902,202 3,363,697 4,886,605

1,812,887 2,868,722 2,821,618 2,546,835 2,598,394 23,000
Inventories
Current Assets 9,888,440 11,321,715 13,603,527 13,961,500 15,284,445
17,250
Fixed Assets 3,839,756 4,844,407 5,838,843 6,555,660 6,930,707
Other Assets - 888,529 213,907 222,280 170,724
11,500
Total Assets 17,753,480 21,267,470 24,910,211 26,560,624 28,188,817
Growth (%) 19.79% 17.13% 6.63% 6.13% 5,750

Growth (%) 38.76% 23.35% 3.07% 1.92%
Paid up Capital 583,095 583,095 583,095 583,095 583,095 17,820
16,387
15,040
13,266
Par Value 100 100 100 100 50 11,987
14,185

11,986,798 13,265,731 15,039,947 16,386,911 17,819,796
10,549
Total Equity
Growth (%) 10.67% 13.37% 8.96% 8.74% 6,914
Total Revenues 21,574,792 25,094,681 30,022,463 31,741,094 26,471,260

Growth (%) 16.31% 19.64% 5.72%
-356
2012 2013 2014 2015 Sep-16
Cost of Revenues 15,796,183 18,668,990 21,962,609 22,121,957 18,011,198

Gross Profit 5,778,609 6,425,691 8,059,854 9,619,137 8,460,062
Expenses (Income) 2,936,549 3,653,767 4,931,161 5,627,005 4,491,153
30,022
Growth (%) -2.47% 12.87% 27.60%
31,741
26,471
25,095
21,575
25,266
Other Income (Expenses) 185,130 195,066 260,032 17,502 11,438

Tax 744,819 733,699 857,044 1,086,486 1,028,878

12,316
Growth (%) -2.07% 13.27% 15.46%

5,840
Current Ratio (%) 276.25 241.06 218.32 232.60 242.34
2,923 2,951
Dividend (Rp) - 190.00 222.00 256.00 - 2,951
2,532
EPS (Rp) 373.80 381.63 446.62 514.62 242.85 2,282 2,235
BV (Rp) 2,055.72 2,275.05 2,579.33 2,810.33 1,528.03 2,349
DAR (X) 0.32 0.38 0.40 0.38 0.37

DER(X) 0.48 0.60 0.66 0.62 0.58
1,747
ROA (%) 12.86 10.51 10.16 11.01 10.47 1,145
ROE (%) 19.04 16.85 16.83 17.84 16.56

GPM (%) 26.78 25.61 26.85 30.30 31.96 543
OPM (%) 13.17 11.05 10.42 12.58 14.99

NPM (%) 10.58 8.91 8.43 9.21 11.15
-59
2012 2013 2014 2015 Sep-16

Payout Ratio (%) - 49.79 49.71 49.75 -
Yield (%) - 1.86 1.69 1.90 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
INCO
VALE INDONESIA TBK.
Company Profile
PT Vale Indonesia Tbk. (formerly International Nickel Indonesia Tbk.) was established on
July25th,1968.

The Companys immediate parent company is Vale Canada Limited and thee ultimate
parententityisValeS.A.,acompanyestablishedunderthelawsoftheFederalRepublicof
Brazil. The Companys plant is located in Sorowako, South Sulawesi and the registered
officeislocatedinJakarta.

The Companys main activities are exploration and mining, processing, storage,
transportation and marketing of nickel and associated mineral products. The Company
starteditscommercialoperationsin1978.

PTValeIndonesiaTbk.isoneoftheworldspremierproducersofnickel.Aversatilemetal,
whichisimportantinimprovinglivingstandardsandfosteringeconomicgrowth.Formore
than three decades, since the signing of its Contract of Work with the Indonesian
Governmentin1968,theCompanyhasprovidedskilledjobs,shownconcernfortheneeds
ofthecommunitiesinwhichitoperates,benefitedshareholdersandcontributedpositively
totheIndonesianeconomy.

ThetotalnumberofemployeesasofDecember31st,2016was3,101.

February 2017
Disclaimer:

INCO ValeIndonesiaTbk.[S]
Industry Sub Sector : Metal And Mineral Mining (23) Market Capitalization : 23,549,122,766,400
45 | 23.5T | 0.41% | 71.66%
46 | 9.66T | 0.52% | 74.79%

Established Date : 25-Jul-1968 1. Vale Canada Limited 5,835,607,960 : 58.73%
Listing Date : 16-May-1990 2. Sumitomo Metal Mining Co. Ltd. 1,996,281,680 : 20.09%
PT Danareksa Sekuritas
PT Vale Indonesia Tbk. Bonus Cash Recording Payment
F/I
Plaza Bapindo - Citibank Tower 22nd Fl. Year Shares Dividend Cum Date Ex Date Date Date
Jln. Jend. Sudirman Kav. 54 - 55, Jakarta 12190 1990 USD 0.35 17-Sep-90 18-Sep-90 25-Sep-90 25-Oct-90 I
Phone : (021) 524-9000 1991 USD 0.15 20-Mar-91 21-Mar-91 28-Mar-91 30-Apr-91
Fax : (021) 524-9030 1991 USD 0.15 19-Sep-91 20-Sep-91 30-Sep-91 30-Oct-91 I
1991 USD 0.15 19-Mar-92 20-Mar-92 27-Mar-92 30-Apr-92 I
BOARD OF COMMISSIONERS 1992 USD 0.05 15-Apr-93 16-Apr-93 23-Apr-93 21-May-93 F
1. Jennifer Anne Maki 1993 USD 0,05 25-Apr-94 26-Apr-94 03-May-94 01-Jun-94 F
2. Idrus Paturusi *) 1994 USD 0,05 28-Oct-94 31-Oct-94 07-Nov-94 07-Dec-94 I
3. Irwandy Arif *) 1994 USD 0,05 24-Apr-95 25-Apr-95 02-May-95 02-Jun-95 F
4. Mahendra Siregar *) 1995 USD 0,05 03-Nov-95 04-Nov-95 14-Nov-95 13-Dec-95 I
5. Akira Nozaki 1995 USD 0,05 26-Apr-96 29-Apr-96 07-May-96 05-Jun-96 F
6. Andrea Maques De Almeida 1996 USD 0.05 04-Nov-96 05-Nov-96 13-Nov-96 12-Dec-96 I
7. Nobuhiro Matsumoto 1996 121.60 25-Apr-97 28-Apr-97 06-May-97 04-Jun-97 F
8. Robert Alan Morris 1997 174.15 10-Nov-97 11-Nov-97 19-Nov-97 18-Dec-97 I
9. Stuart Alan Harshaw 2002 84.65 29-Apr-03 30-Apr-03 02-May-03 19-May-03 F
2003 USD 0,15 23-Apr-04 26-Apr-04 28-Apr-04 13-May-04 F
BOARD OF DIRECTORS 2004 USD 0.0125 04-Nov-04 05-Nov-04 09-Nov-04 25-Nov-04 F
1. Nicolas D. Kanter 2004 USD 0.0975 19-Apr-05 20-Apr-05 25-Apr-05 10-May-05 F
2. Bernardus Irmanto 2005 USD 0.025 22-Nov-05 23-Nov-05 25-Nov-05 08-Dec-05 I
3. Febriany Eddy 2005 745.88 25-Apr-06 26-Apr-06 28-Apr-06 12-May-06 F
4. Lovro Paulic 2006 USD 0.025 17-Nov-06 20-Nov-06 22-Nov-06 05-Dec-06 I
2006 454.50 24-Apr-07 27-Apr-07 27-Apr-07 11-May-07 F
AUDIT COMMITTEE 2007 USD 0,9787 20-Nov-07 21-Nov-07 23-Nov-07 07-Dec-07 I
1. Irwandy Arif 2007 USD 0.02264 16-Apr-08 17-Apr-08 21-Apr-08 06-May-08 F
2. Joseph F.P. Luhukay 2009 USD 0,01107 09-Dec-09 10-Dec-09 14-Dec-09 29-Dec-09 I
3. Dedi Rudaedi 2010 178.44 05-Oct-10 06-Oct-10 08-Oct-10 22-Oct-10 I
2010 125.06 02-May-11 03-May-11 05-May-11 20-May-11 F
CORPORATE SECRETARY 2011 89.68 02-Nov-11 03-Nov-11 07-Nov-11 21-Nov-11 I
Ratih Amri 2011 79.70 14-May-12 15-May-12 21-May-12 01-Jun-12 F
2012 24.31 06-Dec-12 07-Dec-12 11-Dec-12 27-Dec-12 I
HEAD OFFICE 2012 24.70 14-May-13 15-May-13 17-May-13 31-May-13 F
The Energy Building 31st Floor 2013 30.14 29-Nov-13 02-Dec-13 04-Dec-13 18-Dec-13 I
SCBD Lot 11 A, Jl. Jend. Sudirman 2014 123.81 28-Nov-14 01-Dec-14 03-Dec-14 17-Dec-14 I
Kav. 52-53, Jakarta 12190
Phone : (021) 524-9000 ISSUED HISTORY
Fax : (021) 524-9020 Listing Trading
Homepage : www.vale.com/indonesia 1. First Issue 49,681,694 16-May-90 16-May-90
Email : ratih.amri@valeinco.com 2. Company Listing 198,726,774 31-Jan-01 31-Jan-01
pti_corsec@valeinco.com 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. [S] Closing Price Freq. Volume Value
Day
Closing Volume
4,600 160 Jan-13 2,900 2,350 2,750 16,519 264,254 707,204 21
Feb-13 3,075 2,600 2,700 15,878 189,153 535,185 20
4,025 140 Mar-13 2,850 2,350 2,375 18,082 156,260 416,753 19
Apr-13 2,850 2,375 2,850 11,715 243,235 608,803 22
May-13 2,850 2,450 2,550 9,351 115,097 304,185 22
3,450 120
Jun-13 2,575 1,920 2,025 14,312 129,454 294,878 19
Jul-13 2,175 1,770 1,770 26,994 275,925 550,652 23
2,875 100
Aug-13 2,525 1,770 2,300 22,109 259,951 543,386 17
Sep-13 2,725 2,200 2,250 17,867 239,312 586,568 21
2,300 80
Oct-13 2,750 2,250 2,475 12,214 142,143 359,087 21
Nov-13 2,650 2,300 2,400 9,622 97,518 241,610 20
1,725 60 Dec-13 2,800 2,300 2,650 11,825 197,647 515,246 19
1,150 40 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
575 20 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
Jun-14 3,965 3,525 3,555 27,874 191,590 711,230 21
Jul-14 4,025 3,525 4,025 40,957 310,152 1,162,055 18
Aug-14 4,185 3,785 4,180 51,392 260,878 1,044,808 20
Sep-14 4,575 3,710 3,750 64,604 295,695 1,224,296 22
Mining Index Nov-14 4,175 3,625 3,985 53,963 201,141 778,894 20
80%
Jan-15 3,695 3,285 3,450 49,254 157,356 555,099 21
60% Feb-15 3,675 3,350 3,525 42,735 153,140 534,741 19
Mar-15 3,565 3,230 3,235 41,098 178,101 602,947 22
40% 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
20% 21.8% 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
-
-6.1% Sep-15 2,220 1,265 2,185 73,280 497,430 811,348 21
Oct-15 2,700 2,135 2,235 86,392 331,743 783,392 21
-20%
Nov-15 2,280 1,645 1,645 43,182 200,892 378,750 21
-28.4%
Dec-15 1,695 1,340 1,635 34,124 196,891 319,271 19
-40%
Jan-16 1,635 1,370 1,445 25,378 134,782 196,679 20

-60% Feb-16 1,650 1,375 1,535 32,734 204,914 306,034 20
Mar-16 2,045 1,530 1,750 52,471 391,455 736,442 21
-80% Apr-16 2,010 1,710 1,860 35,363 286,809 542,339 21
Jun-16 1,870 1,630 1,820 26,831 225,438 398,859 22
Jul-16 2,630 1,800 2,560 40,083 367,864 863,081 16
Days 244 242 244 246 21 Dec-16 3,500 2,620 2,820 39,537 246,788 768,000 20
Price (Rupiah) Jan-17 3,110 2,230 2,370 76,644 594,870 1,533,079 21

High 3,075 4,575 3,695 3,630 3,110
Low 1,770 2,115 1,190 1,370 2,230
Close 2,650 3,625 1,635 2,820 2,370
Close* 2,650 3,625 1,635 2,820 2,370
PER (X) 55.52 16.97 23.32 -230.18 -193.45

PER Industry (X) 20.76 3.23 0.60 -4.41 -2.64
PBV (X) 1.25 1.60 0.64 1.18 0.99

Receivables 2,098,980 808,618 1,152,892 1,146,177 1,969,933

1,478,050 1,852,721 1,732,173 1,525,295 1,743,939 27,000
Inventories
Current Assets 5,462,486 6,840,464 7,728,153 8,793,628 8,050,233
20,250
Fixed Assets 15,709,602 20,267,120 20,003,592 23,499,597 20,592,726
Other Assets - 164,602 197,135 191,728 141,226
13,500
Total Assets 22,560,884 27,989,330 29,027,987 33,552,233 29,901,711
Growth (%) 24.06% 3.71% 15.59% -10.88% 6,750

Growth (%) 17.59% -1.87% -2.25% -21.28%
Paid up Capital 248,408 248,408 248,408 248,408 248,408 26,880
24,650
21,034
Par Value 25 25 25 25 25
21,397
16,646
16,646,267 21,034,044 22,202,650 26,880,308 24,649,538
15,913
Total Equity
Growth (%) 26.36% 5.56% 21.07% -8.30% 10,430
Total Revenues 9,354,052 11,308,498 12,909,588 11,575,292 7,848,545

Growth (%) 20.89% 14.16% -10.34% -32.20%
-538
2012 2013 2014 2015 2016
Cost of Revenues 7,742,015 9,591,999 9,095,939 9,840,549 7,390,042

Gross Profit 1,612,037 1,716,499 3,813,649 1,734,744 458,504
Expenses (Income) 578,237 855,918 711,551 565,833 266,396
Operating Profit 1,033,800 860,581 3,102,098 1,168,910 192,108 12,910
11,575
Growth (%) -16.76% 260.47% -62.32% -83.57% 11,308
12,910
10,276 9,354
Income before Tax 884,060 680,482 2,946,474 1,023,469 69,397 7,642
Tax 231,393 206,222 804,112 283,276 43,788

Profit for the period 652,667 474,260 2,142,362 740,193 25,609
5,009
Growth (%) -27.34% 351.73% -65.45% -96.54%

2,375
Period Attributable 652,667 474,260 2,142,362 740,193 25,609 -258
Comprehensive Income 652,667 526,530 2,128,372 712,389 8,492 2012 2013 2014 2015 2016
Comprehensive Attributable 652,667 526,530 2,128,372 712,389 8,492
Current Ratio (%) 340.98 330.07 298.21 404.02 453.94
2,142
Dividend (Rp) 49.01 30.14 123.81 - - 2,142
EPS (Rp) 65.68 47.73 215.61 74.49 2.58

BV (Rp) 1,675.29 2,116.88 2,234.49 2,705.25 2,480.75 1,705
DAR (X) 0.26 0.25 0.24 0.20 0.18

DER(X) 0.36 0.33 0.31 0.25 0.21
1,268
ROA (%) 2.89 1.69 7.38 2.21 0.09 831

653
740
ROE (%) 3.92 2.25 9.65 2.75 0.10 474
GPM (%) 17.23 15.18 29.54 14.99 5.84 394
OPM (%) 11.05 7.61 24.03 10.10 2.45 26
NPM (%) 6.98 4.19 16.60 6.39 0.33

-43
2012 2013 2014 2015 2016

Payout Ratio (%) 74.62 63.15 57.42 - -
Yield (%) 2.09 1.14 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
namePTPanganjayaIntikusuma.
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
consumerproductsinthemarket.Indofoodcapitalizesonitsresilientbusinessmodelwith
5complementaryStrategicBusinessGroups:
Consumer Branded Products. Its business activities are conducted by PT Indofood CBP
Sukses Makmur Tbk., which was listed on the Indonesia Stock Exchange from 7 October
2010.ICBPisoneoftheleadingconsumerbrandedproductproducersinIndonesia,witha
wide range of consumer products. In 2013, ICBP started its nonalcoholic beverage
business,andhascurrentportfolioofreadytodrinktea,packagedwater,carbonatedsoft
drinksandfruitjuicedrinks.
Bogasari. The Group is primarily a producer of wheat flour and pasta, with business
operationssupportedbyitsownshippingandpackagingunits.
Agribusiness. The Group is led by Indofood Agri Resources Ltd., listed on the Singapore
StockExchange.BothofIndoAgrissubsidiaries,PTSalimIvomasPratamaTbk.andPTPP
London Sumatra Indonesia Tbk., are listed on the IDX. The Groups principal business
activities range from research and development, seed breeding, oil palm cultivation and
milling to the production and marketing of branded cooking oils, margarine and
shortening. In 2013, IndoAgri initiated expansion of its global business through equity
investmentinthesugarbusinessinBrazilandthePhilippines.
Distribution. With the most extensive distribution network in Indonesia, this Group
distributes the majority of Indofoods and its subsidiaries consumer products as well as
otherthirdpartyproducts.
Cultivation & Processed Vegetables. This Group activities are conducted by China
Minzhong Food Corporation Limited, which is listed on the SGX and is an integrated
vegetableprocessingcompanyinthePeople'sRepublicofChina.
AsofSeptember30th,2016,theGrouphasatotalof83,540employees
February 2017
Disclaimer:

INDF IndofoodSuksesMakmurTbk.[S]
Industry Sub Sector : Food And Beverages (51) Market Capitalization : 69,584,880,012,500
14 | 69.6T | 1.21% | 52.22%
17 | 23.0T | 1.23% | 53.26%

Established Date : 14-Aug-1990 1. CAB Holdings Limited 4,396,103,450 : 50.07%
Under Writer IPO :
PT Merincorp DIVIDEND ANNOUNCEMENT
F/I
Plaza Central Building 2nd Fl. 1994 58.00 21-Jul-95 24-Jul-95 01-Aug-95 31-Aug-95 F
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1995 80.00 11-Jul-96 12-Jul-96 22-Jul-96 21-Aug-96 F
Fax : (021) 252-5028 2000 18.00 11-Jul-01 12-Jul-01 17-Jul-01 31-Jul-01 F
2001 25.00 09-Jul-02 10-Jul-02 15-Jul-02 29-Jul-02 F
1. Manuel Velez Pangilinan 2003 28.00 15-Jul-04 16-Jul-04 20-Jul-04 02-Aug-04 F
2. Adi Pranoto Leman *) 2005 17.50 26-Aug-05 29-Aug-05 31-Aug-05 15-Sep-05
3. Bambang Subianto *) 2005 5.00 20-Jul-06 21-Jul-06 25-Jul-06 08-Aug-06 F
4. Utomo Josodirdjo *) 2006 31.00 27-Jul-07 30-Jul-07 01-Aug-07 15-Aug-07 F
5. Benny Setiawan Santoso 2007 43.00 12-Aug-08 13-Aug-08 15-Aug-08 27-Aug-08 F
6. Christopher Huxley Young 2008 47.00 02-Jul-09 03-Jul-09 07-Jul-09 22-Jul-09 F
7. Edward Anthony Tortorici 2009 93.00 19-Jul-10 20-Jul-10 22-Jul-10 05-Aug-10 F
8. Robert Charles Nicholson 2010 133.00 26-Jul-11 27-Jul-11 29-Jul-11 09-Aug-11 F
*) Independent Commissioners 2011 175.00 17-Jul-12 18-Jul-12 20-Jul-12 03-Aug-12 F
2012 185.00 17-Jul-13 18-Jul-13 22-Jul-13 02-Aug-13 F
1. Anthoni Salim 2014 220.00 18-May-15 19-May-15 21-May-15 11-Jun-15 F
2. Axton Salim 2015 168.00 10-Jun-16 13-Jun-16 15-Jun-16 28-Jun-16 F
3. Darmawan Sarsito (Kevin Sietho)
4. Franciscus Welirang ISSUED HISTORY
5. Joedianto Soejonopoetro Listing Trading
6. Joseph Bataona No. Type of Listing Shares Date Date
7. Moleonoto (Paulus Moleonoto) 1. First Issue 21,000,000 14-Jul-94 14-Jul-94
8. Taufik Wiraatmadja 2. Founders Shares 742,000,000 T: 14-Jul-94 : 08-Feb-95
9. Tjhie Tje Fie (Thomas Tjhie) 3. Stock Split 8,087,800,000 T: 12-Aug-96 : 29-Sep-00
10. Werianty Setiawan 4. Right Issue 305,200,000 24-Apr-97 24-Apr-97
5. Option Conversion 287,269,500 T: 07-May-02 : 12-Jun-03
AUDIT COMMITTEE 6. Option III Conversion 919,500 T: 06-Feb-04 : 24-May-04
1. Utomo Josodirdjo 7. Buy Back -663,762,500 28-Oct-08 28-Oct-08
2. Adi Pranoto Leman
3. Hendra Susanto
CORPORATE SECRETARY
Elly Putranti
HEAD OFFICE
Sudirman Plaza, Indofood Tower 27th Fl.
Jakarta 12190
Phone : (021) 5795-8822
Fax : (021) 5793-7373
Homepage : www.indofood.com
Email : elly.putranti@indofood.co.id

TRADING ACTIVITIES
Indofood Sukses Makmur Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
10,000 160 Jan-13 6,200 5,750 6,050 28,192 381,477 2,293,129 21
Feb-13 7,300 5,950 7,300 28,087 302,233 1,969,793 20
8,750 140 Mar-13 8,000 7,100 7,450 30,888 288,028 2,147,746 19
Apr-13 7,600 7,200 7,350 19,978 246,584 1,832,014 22
May-13 7,850 7,000 7,350 31,881 370,021 2,741,321 22
7,500 120
Jun-13 7,450 6,150 7,350 38,863 314,861 2,148,930 19
Jul-13 7,400 6,450 6,500 30,651 217,023 1,503,617 23
6,250 100
Aug-13 7,050 5,350 6,500 28,933 192,419 1,192,526 17
Sep-13 7,200 5,750 7,050 33,670 233,737 1,537,090 21
5,000 80
Oct-13 7,450 6,600 6,650 33,020 303,938 2,126,484 21
Nov-13 6,850 6,200 6,650 31,088 195,086 1,283,220 20
3,750 60 Dec-13 6,850 6,250 6,600 23,609 161,902 1,067,696 19
2,500 40 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
1,250 20 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
Jun-14 6,950 6,700 6,700 41,644 173,202 1,181,682 21
Jul-14 7,150 6,700 7,075 44,580 206,306 1,441,386 18
Aug-14 7,200 6,875 6,875 41,427 169,528 1,191,886 20
Sep-14 7,125 6,825 7,000 41,539 220,047 1,542,026 22
90%
Jan-15 7,725 6,850 7,550 59,020 454,670 3,360,218 21
75% Feb-15 7,675 7,250 7,400 38,795 183,393 1,357,302 19
Mar-15 7,550 7,300 7,450 54,233 329,852 2,445,636 22
60% 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
45% 46.7% 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
36.6%
Aug-15 6,325 4,560 5,300 66,387 264,443 1,448,909 20
30%
Sep-15 5,575 4,845 5,500 51,705 161,241 833,125 21
21.8%
Oct-15 6,425 5,275 5,525 52,746 189,030 1,106,788 21
15%
Nov-15 6,100 4,875 4,875 59,131 178,196 965,686 21
Dec-15 5,300 4,840 5,175 51,839 174,809 889,022 19
-
Jan-16 6,200 5,175 6,200 54,060 245,954 1,402,717 20

-15% 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
-30% Apr-16 7,300 6,800 7,125 38,431 173,600 1,240,617 21
Jun-16 7,400 6,875 7,250 51,200 193,240 1,382,192 22
Jul-16 8,725 6,975 8,325 46,898 227,720 1,735,739 16
Days 244 242 244 246 21 Dec-16 8,125 7,200 7,925 54,497 217,445 1,672,999 20
Price (Rupiah) Jan-17 8,150 7,700 7,925 44,461 130,722 1,036,766 21

High 8,000 7,800 7,725 9,200 8,150
Low 5,350 6,325 4,560 5,175 7,700
Close 6,600 6,750 5,175 7,925 7,925
Close* 6,600 6,750 5,175 7,925 7,925
PER (X) 23.14 14.67 15.31 16.11 16.11

PER Industry (X) 15.98 24.22 17.71 23.77 19.08
PBV (X) 1.51 1.45 1.05 1.55 1.55

Receivables 3,485,461 4,959,416 4,339,670 5,116,610 7,154,200

7,782,594 8,160,539 8,454,845 7,627,360 8,304,722 80,000
Inventories
Current Assets 26,202,972 32,464,497 40,995,736 42,816,745 41,687,967
60,000
Fixed Assets 15,775,741 23,027,913 22,011,488 25,096,342 25,538,487
Other Assets - 2,748,446 1,702,988 1,529,983 1,276,334
40,000
Total Assets 59,324,207 78,092,789 85,938,885 91,831,526 92,429,827
Growth (%) 31.64% 10.05% 6.86% 0.65% 20,000

Growth (%) 57.73% 12.57% 8.95% -2.43%
43,122
Paid up Capital 878,043 878,043 878,043 878,043 878,043 44,906
41,228
38,373
34,143
Par Value 100 100 100 100 100
35,745

34,142,674 38,373,129 41,228,376 43,121,593 44,905,785
26,584
Total Equity
Growth (%) 12.39% 7.44% 4.59% 4.14% 17,423
Total Revenues 50,059,427 57,731,998 63,594,452 64,061,947 49,865,934

Growth (%) 15.33% 10.15% 0.74%
-898
2012 2013 2014 2015 Sep-16
Cost of Revenues 36,493,332 43,402,144 46,544,646 46,803,889 35,304,012

Gross Profit 13,566,095 14,329,854 17,049,806 17,258,058 14,561,922
Expenses (Income) 6,695,501 7,611,873 9,841,074 9,895,163 8,629,782
57,732
Growth (%) -2.22% 7.31% 2.14%
64,062
50,059 49,866
50,993
Other Income (Expenses) -560,838 -2,051,023 -979,435 -2,400,811 -474,348

Tax 1,530,310 1,252,072 1,828,217 1,730,371 1,627,608

24,856
Growth (%) -28.51% 50.63% -27.92%

11,787
Current Ratio (%) 200.32 166.73 180.74 170.53 166.18
5,146
Dividend (Rp) 185.00 142.00 220.00 168.00 - 5,146 4,779
EPS (Rp) 371.41 285.16 442.50 338.02 369.01 4,100
3,888.50 4,370.30 4,695.49 4,911.10 5,114.31 3,710
BV (Rp)
4,096
3,417
DAR (X) 0.42 0.51 0.52 0.53 0.51
DER(X) 0.74 1.04 1.08 1.13 1.06
3,047
ROA (%) 8.06 4.38 5.99 4.04 4.44 1,997
ROE (%) 14.00 8.90 12.48 8.60 9.13

GPM (%) 27.10 24.82 26.81 26.94 29.20 947
OPM (%) 13.72 11.64 11.34 11.49 11.90

NPM (%) 9.55 5.92 8.09 5.79 8.22
-103
2012 2013 2014 2015 Sep-16

Payout Ratio (%) 49.81 49.80 49.72 49.70 -
Yield (%) 3.16 2.15 3.26 3.25 -

CC O
OMM PP AA N
N YY RR EE PP O
O RR TT
INTP
INDOCEMENT TUNGGAL PRAKARSA TBK.
Company Profile
PT Indocement Tunggal Prakarsa Tbk. was incorporated on January 16th, 1985. The
Companystarteditscommercialoperationsin1985.

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

TheCompanysheadofficeislocatedinJakartawhilethefactoriesarelocatedinCiteureup
WestJava,PalimananWestJava,andTarjunSouthKalimantan.HeidelbergCementAG
istheultimateparentcompanyoftheGroup.

ThecementbusinesscoverstheoperationsoftheCompanystwelve(12)plantslocatedin
threedifferentsites:nineattheCiteureupBogorsite,twoatthePalimananCirebonsite
and one at the Tarjun South Kalimantan site. The manufacture of readymix concrete,
cement distribution, and aggregates quarrying comprise the operations of most of the
CompanysSubsidiaries.

TheCompanyhasdirectownershipinsubsidiaries:
PTDianAbadiPerkasa, PTLenteraAbadiSejahtera,and
PTIndomixPerkasa,
PTSariBhaktiSejati,
PTMakmurAbadiPerkasaMandiri,

TheCompanyalsohasindirectownershipinsubsidiaries:
PTPionirbetonIndustri, PTSahabatMuliaSakti,
PTMandiriSejahteraSentra, PTMultiBangunGalaxy,
PTBahanaIndonor, PTBhaktiSariPerkasaAbadi,
PTTarabatuhManunggal, PTTiroAbadiPerkasa,and
PTMineralIndustriSukabumi PTJayaBerdikariCipta.
PTLintasBahanaAbadi,
PTTerangPrakasaCipta,

TheGrouphadatotalof6,579permanentemployeesasofDecember31st,2016.

February 2017
Disclaimer:

INTP IndocementTunggalPrakarsaTbk.[S]
Industry Sub Sector : Cement (31) Market Capitalization : 55,310,506,277,475
16 | 55.3T | 0.96% | 54.36%
23 | 18.0T | 0.97% | 59.69%

Established Date : 16-Jan-1985 1. Birchwood Omnia Limited 1,877,480,863 : 51.00%
Under Writer IPO :
PT (Persero) Danareksa DIVIDEND ANNOUNCEMENT
PT Merchant Investment Corporation Bonus Cash Recording Payment
F/I
PT Multicor Year Shares Dividend Cum Date Ex Date Date Date
Bank Pembangunan Indonesia 1991 150.00 13-Feb-91 14-Feb-91 21-Feb-91 15-Mar-91 I
Securities Administration Bureau : 1991 175.00 27-May-92 29-May-92 05-Jun-92 18-Jun-92 F
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1993 1:1 12-Aug-94 15-Aug-94 23-Aug-94 23-Sep-94 B
Fax : (021) 252-5028 1995 40.00 23-Aug-95 24-Aug-95 01-Sep-95 29-Sep-95 I
1995 120.00 12-Jul-96 15-Jul-96 23-Jul-96 21-Aug-96 F
1. Albert Scheuer 1996 10:3 08-Sep-97 09-Sep-97 17-Sep-97 30-Sep-97 B
2. Daniel Lavalle *) 2005 50.00 19-Jul-06 20-Jul-06 24-Jul-06 07-Aug-06 F
3. I Nyoman Tjager *) 2006 30.00 27-Jun-07 28-Jun-07 02-Jul-07 16-Jul-07 I
4. Tedy Djuhar *) 2007 40.00 05-Jun-08 06-Jun-08 10-Jun-08 24-Jun-08 F
5. Bernhard Scheifele 2008 150.00 02-Jun-09 03-Jun-09 05-Jun-09 19-Jun-09 F
6. Kevin Gerard Gluskie 2009 225.00 21-Jun-10 22-Jun-10 24-Jun-10 07-Jul-10 F
7. Lorenz Naeger 2010 263.00 17-Jun-11 20-Jun-11 22-Jun-11 07-Jul-11 F
2012 450.00 20-Jun-13 21-Jun-13 25-Jun-13 09-Jul-13 F
BOARD OF DIRECTORS 2013 900.00 19-Jun-14 20-Jun-14 24-Jun-14 08-Jul-14 F
1. Christian Kartawijaya 2014 1,350.00 21-May-15 22-May-15 26-May-15 17-Jun-15 F
2. Benny S. Santoso 2015 415.00 17-May-16 18-May-16 20-May-16 10-Jun-16 F
3. Tju Lie Sukanto
4. Franciscus Welirang ISSUED HISTORY
5. Hasan Imer Listing Trading
6. Juan Francisco Defalque No. Type of Listing Shares Date Date
7. Kuky Permana 1. First Issue 89,832,150 05-Dec-89 05-Dec-89
8. Ramakanta Bhattacharjee 2. Koperasi 6,000,000 T: 26-Jun-92 : 31-Dec-99
9. Troy Dartojo Soputro 3. Founders Shares 946,119 T: 07-Mar-94 : 02-Sep-94
4. Convertible Bonds 8,555,640 T: 07-Mar-94 : 10-Nov-94
AUDIT COMMITTEE 5. Bonus Shares 599,790,020 T: 12-Sep-94 : 26-Sep-94
1. I Nyoman Tjager 6. Company Listing 502,102,731 12-Sep-94 12-Sep-94
2. Jusuf Halim 7. Stock Split 1,207,226,660 02-Sep-96 02-Sep-96
3. Lindawati Gani 8. Additional Listing 69,863,127 09-Jan-01 09-Jan-01
9. Right Issue 1,196,907,072 24-Apr-01 24-Apr-01
CORPORATE SECRETARY 10. Warrant 8,180 12-May-03 12-May-03
Pigo Pramusakti Kusdihardjo
HEAD OFFICE
Wisma Indocement 8th Fl.
Jakarta
Phone : (021) 251-0057, 570-3817
Fax : (021) 570-1693, 251-0066
Homepage : www.indocement.com
Email : corpsec@indocement.co.id

TRADING ACTIVITIES
Indocement Tunggal Prakarsa Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
28,000 160 Jan-13 22,600 21,250 21,750 23,664 71,422 1,550,241 21
Feb-13 22,150 21,350 21,950 16,173 69,389 1,501,495 20
24,500 140 Mar-13 23,550 21,850 23,300 23,869 94,226 2,139,138 19
Apr-13 26,450 22,750 26,400 22,551 75,064 1,827,956 22
May-13 27,400 23,750 23,750 27,114 77,761 1,949,529 22
21,000 120
Jun-13 24,550 20,450 24,450 39,750 137,049 3,109,151 19
Jul-13 24,400 20,600 20,850 26,673 72,376 1,592,849 23
17,500 100
Aug-13 22,450 16,500 19,700 27,991 79,314 1,531,570 17
Sep-13 21,900 18,000 18,000 32,816 92,486 1,815,659 21
14,000 80
Oct-13 21,000 18,000 20,900 28,227 66,651 1,308,829 21
Nov-13 21,200 18,250 18,850 25,471 62,059 1,201,282 20
10,500 60 Dec-13 20,200 18,300 20,000 20,099 57,378 1,099,328 19
7,000 40 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
3,500 20 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
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
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
Basic Industry and Chemicals Index Nov-14 24,975 22,475 24,675 37,852 62,863 1,508,616 20
60%
Jan-15 25,500 21,325 23,000 59,898 112,706 2,596,245 21
45% Feb-15 24,325 22,650 24,050 38,270 51,124 1,209,902 19
Mar-15 24,300 20,475 21,925 53,486 87,898 1,969,041 22
30% 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
21.8%
15% 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
6.6%
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
Oct-15 21,025 16,100 18,000 71,016 86,080 1,608,882 21
-15%
Nov-15 21,400 17,900 18,700 51,050 54,994 1,085,736 21
Dec-15 22,800 19,025 22,325 37,676 33,403 693,474 19
-30% -31.4%
Jan-16 22,425 18,075 19,700 63,144 74,904 1,483,571 20
-45% 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
-60% Apr-16 20,800 19,550 19,725 27,722 38,762 774,930 21
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
Volume (Million Sh.) 955 874 991 1,111 24 Sep-16 18,400 16,900 17,350 38,832 41,799 737,059 21
Days 244 242 244 246 21 Dec-16 16,800 14,675 15,400 28,099 32,276 518,964 20
Price (Rupiah) Jan-17 16,000 14,600 15,025 24,266 23,885 368,934 21

High 27,400 27,500 25,500 22,425 16,000
Low 16,500 19,825 16,000 14,275 14,600
Close 20,000 25,000 22,325 15,400 15,025
Close* 20,000 25,000 22,325 15,400 15,025
PER (X) 14.69 18.57 18.86 13.51 13.18

PER Industry (X) 6.83 16.60 4.10 20.86 23.23
PBV (X) 3.20 3.96 3.44 2.23 2.17

Receivables 2,454,818 2,518,588 2,670,993 2,534,690 2,616,979

1,470,305 1,473,645 1,665,546 1,521,197 1,780,410 25,000
Inventories
Current Assets 14,579,400 16,846,248 16,086,773 13,133,854 14,424,622
18,750
Fixed Assets 7,935,224 9,304,992 12,143,632 13,813,892 14,643,695
Other Assets 141,371 324,750 421,823 398,265 453,899
12,500
Total Assets 22,755,160 26,607,241 28,884,973 27,638,360 30,150,580
Growth (%) 16.93% 8.56% -4.32% 9.09% 6,250

Long Term Liabilities 917,660 889,465 839,613 1,084,667 824,135 2012 2013 2014 2015 2016
Growth (%) 8.79% 12.97% -7.99% 6.35%
Paid up Capital 1,840,616 1,840,616 1,840,616 1,840,616 1,840,616 30,151
22,978
Par Value 500 500 500 500 500
24,000
19,419
19,418,738 22,977,687 24,784,801 23,865,950 30,150,580
17,849
Total Equity
Growth (%) 18.33% 7.86% -3.71% 26.33% 11,698
Total Revenues 17,290,337 18,691,286 19,996,264 17,798,055 15,361,894

Growth (%) 8.10% 6.98% -10.99% -13.69%
-603
2012 2013 2014 2015 2016
Cost of Revenues 9,020,338 10,036,632 10,909,595 9,888,919 9,030,433

Gross Profit 8,269,999 8,654,654 9,086,669 7,909,136 6,331,461
Expenses (Income) 2,393,257 2,590,554 3,111,676 2,852,206 2,686,866
18,691
3.19% -1.47% -15.37% -27.93% 17,798
Growth (%)
19,996
17,290
15,362
15,917

Tax 1,476,162 1,582,860 1,515,593 1,288,450 747

7,759
Growth (%) 5.23% 5.22% -17.39% -11.16%

3,679
Current Ratio (%) 602.76 614.81 493.37 488.66 452.50
5,274
Dividend (Rp) 450.00 900.00 1,350.00 415.00 - 5,012
5,274
4,763
EPS (Rp) 1,293.15 1,361.02 1,431.82 1,183.48 1,051.37 4,357
3,870
BV (Rp) 5,275.07 6,241.85 6,732.75 6,483.14 8,190.35 4,198
DAR (X) 0.15 0.14 0.14 0.14 0.13

DER(X) 0.17 0.16 0.17 0.16 0.13
3,122
ROA (%) 20.93 18.84 18.26 15.76 12.84 2,046
ROE (%) 24.53 21.81 21.28 18.25 12.84

GPM (%) 47.83 46.30 45.44 44.44 41.22 970
OPM (%) 33.99 32.44 29.88 28.41 23.72

NPM (%) 27.55 26.82 26.37 24.48 25.19
-105
2012 2013 2014 2015 2016

Payout Ratio (%) 34.80 66.13 94.29 35.07 -
Yield (%) 2.00 4.50 5.40 1.86 -

C
COOM
M PP A
ANN YY RR EE PP O
O RR TT
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 StateOwned Company (Persero) in the area of management,
maintenance and development of toll roads, and the detailed management regulations.
TheCompanystarteditscommercialoperationsin1978.
PTJasaMargaisastateownedcompanywiththelinebusinessofplanning,constructing,
operatingandmaintainingtollroadsalongwithdevelopingandmaximizingtheuseofland
in toll road areas and other related businesses. Jasa Margas business caracteristics are
defensiveandresistanttofluctuatedconditionofglobaleconomy.
BasedonthetollroadconcessionsgranteddirectlyfromtheGovernment,PTJasaMarga
(Persero) Tbk currently manages and operates 13 toll road concessions through its nine
branchofficesandonesubsidiary
Apart from developing more toll roads to add the length of the toll roads operated, the
Companyalsodevelopsotherbusinessesbycapitalizingvariousassetsownedsuchasthe
following:
Utilityandlandrent.
Restareaandpropertydevelopment.
Advertisement
Variousservices,includingtollroadoperationfromotherparties.
Goingforward,theCompanysbusinessprospectwillberobustasitissupportedbynew
concessions with sound financial feasibility that is integrated with existing concession
portfolio,strongandtrustedfinancialstructure,aswellasassetsutilizationinprospective
businesses,which,inturnwillsupporttheCompanyssustainablegrowth.
The Company and its subsidiaries had 8,276 permanent employees as of December 31st,
2016.

February 2017
Disclaimer:

JSMR JasaMarga(Persero)Tbk.
Industry Sub Sector : Toll Road, Airport, Harbor And Allied Products (72) Market Capitalization : 30,628,216,464,000
32 | 30.6T | 0.53% | 65.96%
42 | 10.2T | 0.55% | 72.67%

Under Writer IPO :
F/I
PT Mandiri Sekuritas Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 2007 14.31 21-May-08 22-May-08 26-May-08 29-May-08 F
PT Datindo Entrycom 2008 52.00 18-Jun-09 19-Jun-09 23-Jun-09 07-Jul-09 F
Wisma Sudirman - Puri Datindo 2009 87.91 28-Jun-10 29-Jun-10 01-Jul-10 15-Jul-10 F
Fax : (021) 570-9026 2012 94.24 29-May-13 30-May-13 03-Jun-13 18-Jun-13 F
2013 78.61 04-Apr-14 07-Apr-14 10-Apr-14 23-Apr-14 F
BOARD OF COMMISSIONERS 2015 43.13 06-Apr-16 07-Apr-16 11-Apr-16 29-Apr-16 F
1. Refly Harun *)
2. Sigit Widyawan *) ISSUED HISTORY
3. Agus Suharyono Listing Trading
4. Boediarso Teguh Widodo No. Type of Listing Shares Date Date
5. Muhammad Sapta Murti 1. First Issue 2,040,000,000 12-Nov-07 12-Nov-07
6. Taufik Widjojono 2. Negara RI (Seri A) 1 12-Nov-07 12-Nov-07
*) Independent Commissioners 3. Company Listing 4,759,999,999 12-Nov-07 10-May-08
4. Right Issue I 8,326,610 07-Dec-16 07-Dec-16
BOARD OF DIRECTORS 5. Right Issue I 12,081,825 08-Dec-16 08-Dec-16
1. Desi Arryani 6. Right Issue I 331,269,578 09-Dec-16 09-Dec-16
2. Anggiasari 7. Right Issue I 64,014,959 13-Dec-16 13-Dec-16
3. Christantio Prihambodo 8. Right Issue I 34,740,139 14-Dec-16 14-Dec-16
4. Hasanudin 9. Right Issue I 7,438,089 16-Dec-16 16-Dec-16
5. Muh Najib Fauzan
6. Subakti Syukur
AUDIT COMMITTEE
1. Sigit Widyawan
2. Teguh Indra Prastiyo
3. Triono Junoasmono
CORPORATE SECRETARY
Mohammad Sofyan
HEAD OFFICE
Plaza Tol Taman Mini Indonesia Indah
Jakarta - 13550
Phone : (021) 841-3630
Fax : (021) 840-1533, 841-3540
Homepage : www.jasamarga.com
Email : sekper@jasamarga.co.id
jasmar@jasamarga.com
mohammad.sofyan@jasamarga.co.id

TRADING ACTIVITIES
Jasa Marga (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
7,400 64.0 Jan-13 5,700 5,100 5,500 17,310 287,693 1,560,093 21
Feb-13 5,650 5,400 5,550 13,401 204,434 1,133,501 20
6,475 56.0 Mar-13 5,950 5,600 5,950 15,101 195,334 1,128,937 19
Apr-13 6,750 5,900 6,700 14,419 221,969 1,418,115 22
May-13 6,950 6,500 6,700 17,482 146,129 973,809 22
5,550 48.0
Jun-13 6,800 5,700 6,050 25,472 256,837 1,596,449 19
Jul-13 6,400 5,200 5,350 20,579 159,785 952,854 23
4,625 40.0
Aug-13 6,150 5,300 5,450 18,323 152,358 868,013 17
Sep-13 5,850 5,050 5,200 19,992 204,787 1,144,362 21
3,700 32.0
Oct-13 5,800 5,250 5,250 17,277 166,818 927,029 21
Nov-13 5,450 4,825 5,100 22,103 154,529 793,812 20
2,775 24.0 Dec-13 5,350 4,525 4,725 18,175 149,099 732,436 19
1,850 16.0 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
925 8.0 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
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
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
Infrastructure, Utilities and Transportation Index Nov-14 7,075 6,325 6,750 25,934 202,949 1,345,264 20
40%
Jan-15 7,250 6,925 7,200 27,993 127,295 896,176 21
30% Feb-15 7,225 6,900 7,100 29,950 129,358 914,804 19
Mar-15 7,200 6,975 7,200 30,454 144,110 1,022,917 22
20% 21.8% Apr-15 7,200 5,950 6,200 35,427 198,482 1,328,552 21
16.3% May-15 6,600 6,000 6,475 31,326 126,120 799,480 19
10% 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
Oct-15 5,625 4,750 4,840 51,457 194,115 1,001,768 21
-10%
Nov-15 5,200 4,500 4,500 42,147 166,593 812,075 21
Dec-15 5,250 4,575 5,225 48,841 129,847 631,845 19
-20%
-24.0%
Jan-16 6,075 4,995 5,750 38,605 209,808 1,185,959 20
-30% 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
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
Days 244 242 244 246 21 Dec-16 4,570 4,110 4,320 51,067 248,754 1,084,481 20
Price (Rupiah) Jan-17 4,390 4,150 4,220 39,547 102,208 433,704 21

High 6,950 7,075 7,250 6,250 4,390
Low 4,525 4,400 4,500 3,900 4,150
Close 4,725 7,050 5,225 4,320 4,220
Close* 4,725 7,050 5,225 4,320 4,220
PER (X) 24.04 34.16 24.51 18.04 17.62

PER Industry (X) 12.11 20.04 9.49 8.16 9.33
PBV (X) 2.96 4.20 2.87 2.26 2.20

Receivables 64,092 177,198 148,829 164,374 8,278,539

- - - 20,154 86,975 50,000
Inventories
Current Assets 4,531,117 3,746,345 3,641,372 3,729,047 12,965,884
37,500
Fixed Assets 422,507 593,028 701,727 913,843 884,666
Other Assets 289,155 130,965 121,561 1,007,135 882,977
25,000
Total Assets 24,753,551 28,366,345 31,857,948 36,724,982 53,500,323
Growth (%) 14.60% 12.31% 15.28% 45.68% 12,500

Growth (%) 16.93% 16.76% 19.20% 52.57%
Paid up Capital 3,400,000 3,400,000 3,400,000 3,400,000 3,400,000 16,339

12,369
Par Value 500 500 500 500 500
13,006
11,425
10,867
2,753,965 3,449,446 4,009,692 4,895,330 6,491,367 9,788
Retained Earnings
9,787,786 10,866,980 11,424,996 12,368,664 16,338,840
9,673
Total Equity
Growth (%) 11.03% 5.13% 8.26% 32.10% 6,339
Total Revenues 9,070,219 10,294,668 9,175,319 9,848,242 16,661,403

Growth (%) 13.50% -10.87% 7.33% 69.18%
-327
2012 2013 2014 2015 2016
Cost of Revenues - - - 5,720,422 11,805,012

Gross Profit - - - 4,127,820 4,856,391
Expenses (Income) 6,094,983 7,631,490 6,131,283 650,155 690,884
Growth (%) -10.49% 14.30% 14.25% 19.78%

16,661
13,262
Other Income (Expenses) -919,979 -948,522 -1,222,062 -1,409,361 -1,515,828 10,295 9,848
9,070 9,175
Tax 519,445 476,835 606,642 749,104 846,625

6,465
Growth (%) -19.40% -1.82% 8.55% 36.68%

3,066
Current Ratio (%) 68.16 76.15 84.43 48.16 69.61
1,803
Dividend (Rp) 94.24 78.61 - 43.13 -
1,536
EPS (Rp) 235.60 196.52 206.39 213.14 260.40
1,319
BV (Rp) 1,439.38 1,598.09 1,680.15 1,818.92 2,402.77 1,435
1,238 1,215
DAR (X) 0.60 0.62 0.64 0.66 0.69
DER(X) 1.53 1.61 1.79 1.97 2.27
1,067
ROA (%) 6.20 4.36 3.81 3.59 3.37 700
ROE (%) 15.69 11.39 10.64 10.67 11.04

GPM (%) - - - 41.91 29.15 332
OPM (%) 32.80 25.87 33.18 35.31 25.00

NPM (%) 16.93 12.02 13.25 13.40 10.82
-36
2012 2013 2014 2015 2016

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

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
KLBF
KALBE FARMA TBK.
Company Profile
PTKalbeFarmaTbk.wasestablisheddatedSeptember10th,1966,withintheframeworkof
theDomesticCapitalInvestmentLaw.

ThescopeofactivitiesoftheCompanycomprises,amongothers,pharmaceuticals,trading
and representative. Currently, the Company is primarily engaged in the development,
manufacturing, and trading of pharmaceuticals preparation including medicines and
consumerhealthproducts.TheCompanystarteditscommercialoperationsin1966.

TheSubsidiariesareengagedin:
ThePharmaceutical:PTBintangToedjoe,PTHexpharmJayaLaboratories,PTSakaFarma
Laboratories, PT Finusolprima Farma Internasional, PT Bifarma Adiluhung, Innogene
KalbiotechPte.Ltd.,PTDankosFarma,PTPharmaMetricLabs.,PTKalGenDNA,PTKalbio
GlobalMedika,PTKalbeGenexineBiologics,PTInnolabSainsnternasional.
Health Foods and Drinks: PT Sanghiang Perkasa, PT Kalbe Morinaga Indonesia, PT Hale
International,PTKalbeMilkoIndonesia.
SaleandDistribution:PTEnsevalPuteraMegatradingTbk.,PTTriSaptaJaya,PTMillenia
DharmaInsani,PTEnsevalMedikaPrima,PTGlobalChemindoMegatrading,PTRenalmed
Tiara Utama, PT Medika Renal Citraprima, Kalbe Vision Pte. Ltd., Kalbe International Pte.
Ltd.,AsiawideKalbePhilippinesInc.,PTKarsaLintasBuwana,KalbeMalaysiaSdn.Bhd,PT
MedikaKomunikaTeknologi.

The Companys production plants is located at Kawasan Industri Delta Silicon, Jln. M.H.
Thamrin,BlockA31,LippoCikarang,Bekasi.

As of September 30, 2016, the Company and its subsidiaries have total of 12,815
permanentemployees.
February 2017
Disclaimer:

KLBF KalbeFarmaTbk.[S]
Industry Sub Sector : Pharmaceuticals (53) Market Capitalization : 67,968,927,059,500
15 | 68.0T | 1.18% | 53.40%
24 | 17.1T | 0.92% | 60.61%

Established Date : 10-Sep-1966 1. PT Gira Sole Prima 4,767,872,885 : 10.17%
Listing Date : 30-Jul-1991 2. PT Santa Seha Sanadi 4,527,734,940 : 9.66%
Under Writer IPO : 3. PT Diptanala Bahana 4,447,970,440 : 9.49%
PT Merincorp 4. PT Lucasta Murni Cemerlang 4,439,895,440 : 9.47%
PT Niaga Securities 5. PT Ladang Ira Panen 4,319,452,940 : 9.21%
Securities Administration Bureau : 6. PT Bina Artha Charisma 3,981,434,440 : 8.49%
PT Adimitra Jasa Korpora 7. Public (<5%) 20,390,761,025 : 43.50%
Rukan Kirana Boutique Office
Jln. Kirana Avenue III Blok F3 No. 5, Kelapa Gading, Jakarta Utara DIVIDEND ANNOUNCEMENT
Phone : (021) 2974-5222 Bonus Cash Recording Payment
F/I
Fax : Year Shares Dividend Cum Date Ex Date Date Date
1991 200.00 16-Apr-92 20-Apr-92 27-Apr-92 29-May-92 F
BOARD OF COMMISSIONERS 1991 1: 1 20-Oct-92 21-Oct-92 28-Oct-92 16-Nov-92 B
1. Johannes Setijono 1992 60.00 09-Dec-92 10-Dec-92 17-Dec-92 15-Jan-93 I
2. Farid Anfasa Moeloek *) 1992 70.00 30-Jun-93 01-Jul-93 08-Jul-93 06-Aug-93 F
3. Johanes Berchman Apik Ibrahim *) 1993 10 : 3 & 10 : 7 75.00 07-Jun-94 08-Jun-94 15-Jun-94 15-Jul-94 F
4. Lucky Surjadi Slamet *) 1994 50.00 29-Aug-94 30-Aug-94 06-Sep-94 06-Oct-94 I
5. Ferdinand Aryanto 1994 85.00 10-Jul-95 11-Jul-95 19-Jul-95 18-Aug-95 F
6. Ronny Hadiana 1995 115.00 09-Jul-96 10-Jul-96 18-Jul-96 15-Aug-96 F
7. Santoso Oen 1996 75.00 23-Jul-97 24-Jul-97 01-Aug-97 29-Aug-97 F
1999 100 : 88 10-Nov-00 13-Nov-00 20-Nov-00 06-Dec-00 F
BOARD OF DIRECTORS 2002 2.00 25-Aug-03 26-Aug-03 28-Aug-03 11-Sep-03 F
1. Bernadette Ruth Irawaty Setiady 2003 1.00 16-Aug-04 18-Aug-04 20-Aug-04 03-Sep-04 F
2. Bujung Nugroho 2005 3.00 05-Jul-05 06-Jul-05 08-Jul-05 22-Jul-05
3. Djonny Hartono Tjahyadi 2006 10.00 14-Jun-07 15-Jun-07 19-Jun-07 03-Jul-07 I
4. Ongkie Tedjasurja 2007 10.00 31-Jul-08 01-Aug-08 05-Aug-08 20-Aug-08 F
5. Vidjongtius 2008 12.50 29-Jul-09 30-Jul-09 03-Aug-09 14-Aug-09 F
2009 25.00 15-Jul-10 16-Jul-10 20-Jul-10 30-Jul-10 F
AUDIT COMMITTEE 2010 70.00 27-Jun-11 28-Jun-11 01-Jul-11 13-Jul-11 F
1. Lucky Surjadi Slamet 2011 95.00 28-Jun-12 29-Jun-12 03-Jul-12 17-Jul-12 F
2. Kai Arief Iman Selomulya 2012 19.00 13-Jun-13 14-Jun-13 18-Jun-13 02-Jul-13 F
3. Kurniawan Tedjo 2013 17.00 13-Jun-14 16-Jun-14 18-Jun-14 02-Jul-14 F
2014 19.00 25-May-15 26-May-15 28-May-15 17-Jun-15 F
CORPORATE SECRETARY 2015 19.00 07-Jun-16 08-Jun-16 10-Jun-16 30-Jun-16 F
Vidjongtius
ISSUED HISTORY
HEAD OFFICE Listing Trading
Kalbe Building 3rd Fl. No. Type of Listing Shares Date Date
Jln. Let. Jend. Suprapto Kav. 4, Cempaka Putih 1. First Issue 10,000,000 30-Jul-91 30-Jul-91
Jakarta 10510 2. Partial Listing 10,000,000 T: 30-Jul-91 : 30-Jan-92
Phone : (021) 4287-3688, 89424-3908 3. Koperasi 500,000 T: 27-Feb-92 : 31-Dec-99
Fax : (021) 428-73678 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
Homepage : www.kalbe.co.id 6. Right Issue 8,000,000 T: 14-May-93 : 25-Jun-93
Email : Vidjongtius@kalbe.co.id 7. Dividen Shares 32,400,000 18-Jul-94 18-Jul-94
8. Stock Split 6,004,800,000 T: 07-Oct-96 : 02-Jan-04
9. Additional Listing (Merger) 2,034,414,422 21-Dec-05 21-Dec-05
10. Stock Splits 40,624,057,688 08-Oct-12 08-Oct-12
11. Decrease in Issued and Fully Paid Shares -3,904,950,000 13-Dec-13 13-Dec-13

TRADING ACTIVITIES
Kalbe Farma Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,000 400 Jan-13 1,130 1,000 1,090 48,914 1,891,111 1,965,394 21
Feb-13 1,300 1,070 1,290 69,492 1,682,306 1,946,563 20
1,750 350 Mar-13 1,380 1,190 1,240 51,451 1,724,553 2,181,688 19
Apr-13 1,390 1,200 1,390 51,858 1,928,884 2,479,590 22
May-13 1,560 1,320 1,450 67,894 1,973,262 2,887,922 22
1,500 300
Jun-13 1,450 1,130 1,440 76,854 1,752,293 2,311,851 19
Jul-13 1,500 1,300 1,430 100,827 1,558,750 2,191,524 23
1,250 250
Aug-13 1,510 1,110 1,350 71,639 1,391,354 1,888,689 17
Sep-13 1,440 1,180 1,180 92,703 1,885,390 2,494,405 21
1,000 200
Oct-13 1,390 1,220 1,300 82,161 1,732,152 2,302,731 21
Nov-13 1,370 1,200 1,220 55,361 1,256,613 1,624,072 20
750 150 Dec-13 1,260 1,160 1,250 54,113 1,220,791 1,480,756 19
500 100 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
250 50 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
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
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
Closing Price*, Jakarta Composite Index (IHSG) and Oct-14 1,715 1,595 1,705 92,218 1,088,205 1,816,283 23
January 2013 - January 2017 Dec-14 1,835 1,715 1,830 79,479 1,036,522 1,844,446 20
105%
Jan-15 1,880 1,775 1,865 67,451 931,699 1,699,637 21
90% Feb-15 1,870 1,780 1,805 72,888 924,635 1,684,580 19
Mar-15 1,865 1,775 1,865 76,831 1,156,024 2,102,717 22
75% 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
60% 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
46.7% Aug-15 1,735 1,405 1,675 110,480 1,084,676 1,706,243 20
45%
39.4% Sep-15 1,700 1,250 1,375 86,684 887,975 1,334,895 21
Oct-15 1,610 1,345 1,430 125,064 1,275,026 1,870,332 21
30%
Nov-15 1,455 1,305 1,335 94,453 1,193,529 1,635,558 21
21.8% Dec-15 1,390 1,135 1,320 97,512 1,356,241 1,718,826 19
15%
Jan-16 1,505 1,275 1,335 88,640 1,293,400 1,780,459 20

- 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
-15% Apr-16 1,470 1,320 1,375 81,214 1,099,897 1,551,019 21
Jan 13 Jan 14 Jan 15 Jan 16 Jan 17 May-16 1,430 1,295 1,430 81,608 1,189,673 1,617,860 20
Jun-16 1,545 1,370 1,530 88,348 1,087,339 1,562,244 22
Jul-16 1,715 1,490 1,675 62,357 569,437 912,427 16
Frequency (Thou. X) 823 1,088 1,080 934 43 Nov-16 1,755 1,385 1,500 76,734 1,188,212 1,805,036 22
Days 244 242 244 246 21 Dec-16 1,590 1,410 1,515 65,131 650,147 990,194 20
Price (Rupiah) Jan-17 1,570 1,450 1,450 42,602 341,931 516,733 21

High 1,560 1,835 1,915 1,815 1,570
Low 1,000 1,260 1,135 1,250 1,450
Close 1,250 1,830 1,320 1,515 1,450
Close* 1,250 1,830 1,320 1,515 1,450
PER (X) 30.53 43.27 30.87 31.28 29.94

PER Industry (X) 15.98 24.22 17.71 23.77 19.08
PBV (X) 6.89 9.30 5.66 6.01 5.75

Receivables 1,938,156 2,273,379 2,464,902 2,434,082 2,734,275

2,115,484 3,053,495 3,090,544 3,003,150 3,146,320 12,000
Inventories
Current Assets 6,441,711 7,497,319 8,120,805 8,748,492 9,223,921
9,000
Fixed Assets 2,254,763 2,925,547 3,404,457 3,938,494 4,466,622
Other Assets - 357,861 326,536 346,531 327,649
6,000
Total Assets 9,417,957 11,315,061 12,425,032 13,696,417 14,688,501
Growth (%) 20.14% 9.81% 10.23% 7.24% 3,000

Long Term Liabilities 154,696 174,513 221,637 392,251 413,525 2012 2013 2014 2015 Sep-16
Growth (%) 37.57% -7.37% 5.77% 4.24%
Authorized Capital 1,700,000 850,000 850,000 850,000 850,000 11,813
Paid up Capital 507,801 507,801 468,751 468,751 468,751 11,813
10,938
60,936 50,780 46,875 46,875 46,875 9,817
8,500
Par Value 50&10 10 10 10 10
9,404
7,372
7,371,644 8,499,958 9,817,476 10,938,286 11,813,485
6,994
Total Equity
Growth (%) 15.31% 15.50% 11.42% 8.00% 4,584
Total Revenues 13,636,405 16,002,131 17,368,533 17,887,464 14,376,150

Growth (%) 17.35% 8.54% 2.99%
-236
2012 2013 2014 2015 Sep-16
Cost of Revenues 7,102,971 8,323,018 8,892,737 9,295,887 7,341,962

Gross Profit 6,533,434 7,679,113 8,475,795 8,591,577 7,034,188
Expenses (Income) 4,225,417 5,106,591 5,712,095 5,870,696 4,754,561
Operating Profit - - - - 2,279,627 17,369 17,887
16,002
Growth (%)
17,887
14,376
13,636
14,238

Tax 532,918 602,070 642,610 663,187 542,938

6,940
Growth (%) 11.01% 7.64% -2.99%

3,291
Current Ratio (%) 340.54 283.93 340.36 369.78 374.73
2,121 2,058
Dividend (Rp) 19.00 17.00 19.00 19.00 - 2,121 1,970
28.45 37.80 44.05 42.76 36.32 1,775 1,737
EPS (Rp)
BV (Rp) 120.97 167.39 209.44 233.35 252.02 1,688
DAR (X) 0.22 0.25 0.21 0.20 0.20

DER(X) 0.28 0.33 0.27 0.25 0.24
1,256
ROA (%) 18.85 17.41 17.07 15.02 11.82 823
ROE (%) 24.08 23.18 21.61 18.81 14.70

GPM (%) 47.91 47.99 48.80 48.03 48.93 390
OPM (%) - - - - 15.86

NPM (%) 13.02 12.31 12.21 11.50 12.08
-42
2012 2013 2014 2015 Sep-16

Payout Ratio (%) 66.77 44.97 43.14 44.44 -
Yield (%) 1.79 1.36 1.04 1.44 -

COMPANY REPORT
LPKR
LIPPO KARAWACI TBK.
Company Profile

PT Lippo Karawaci Tbk. wasestablished under thenamePT Tunggal Reksakencanadated
October15th,1990.

TheCompanysscopeofactivitiesincluderealestate,urbandevelopment,landpurchasing
and clearing, land cut and fill, land development and excavation, infrastructure
development planning, developing, leasing, selling and managing of buildings, houses,
offices and industrial estates, hotels, hospitals, commercial centers and sports centers,
supporting infrastructure, including but not limited to golf courses, club houses,
restaurants, other entertainment centers, medical laboratories, medical pharmacies and
related facilities, directly or by investment or capital divestment; build and operate
environmentinfrastructure,buildandmanagepublicfacilitiesandaccommodationservices
andoperatingactivitiesinservicesconsistingofpublictransportation,securityservicesand
othersupportingservices,exceptforlegalandtaxationservices.
The main activities of the Company include urban development, large scale integrated
development,retailmalls,healthcare,hospitals&infrastructure,alsoproperty&portfolio
management.

The Company creates wellplanned developments that circumvent traffic congestion, are
floodfree, and possess worldclass infrastructure. The Company is driven by its vision of
impacting lives, while continuously creating value for its stakeholders. The needs of the
growingmiddle,uppermiddleandupperclassesofIndonesiaaremetbythequalityofthe
services offered through each business segment, while sustainable growth is achieved
throughabalancedportfolioofdevelopmentprojectssupportedandsustainedbyastable
level of recurring income from healthcare, hotel leisure & hospitality, infrastructure, and
feebasedincomeasRetailEstateInvestmentTrust(REIT)andpropertymanagers.

ThecompanyisoneoftheincorporatedinthebusinessgroupLippoGroup.

AsofDecember31st,2016,theCompanyandsubsidiarieshad8,946employees.
February 2017
Disclaimer:

LPKR LippoKarawaciTbk.[S]
61 | 17.0T | 0.30% | 77.27%
20 | 20.0T | 1.07% | 56.64%

Established Date : 15-Oct-1990 1. Pacific Asia Holding Ltd. 1,726,619,908 : 7.48%
Listing Date : 28-Jun-1996 2. Credit Suisse Ag Sg Trust Account Client Crescendo Inv. Ltd. 1,690,000,000 : 7.32%
Under Writer IPO : 3. Credit Suisse Ag Sg Trust Account Client Itradiaz Inv. Ltd. 1,400,000,000 : 6.07%
PT Pentasena Arthasentosa 4. Credit Suisse Ag Sg Trust Account Client Boston Inv. Ltd. 1,351,000,000 : 5.85%
Securities Administration Bureau : 5. Credit Suisse Ag SgTrust Account Client Bullion Inv. Ltd. 1,252,500,000 : 5.43%
PT Sharestar Indonesia 6. Credit Suisse Ag Sg Traccl 1,212,280,000 : 5.25%
Berita Satu Plasa 7th Fl. 7. Bank Julius Baerand Co. Ltd. S/A Pacific Asia Holdings Ltd. 600,000,000 : 2.60%
Jln. Jend. Gatot Subroto Kav. 35-36, Jakarta 12950 8. Public (<5%) 13,845,289,711 : 59.99%
Phone : (021) 527-7966
Fax : (021) 527-7967 DIVIDEND ANNOUNCEMENT
Bonus Cash Recording Payment
F/I
BOARD OF COMMISSIONERS Year Shares Dividend Cum Date Ex Date Date Date
1. Theo L. Sambuaga 1995 40.00 05-Dec-96 06-Dec-96 16-Dec-96 14-Jan-97 F
2. Agum Gumelar *) 1997 10.00 13-Jan-98 14-Jan-98 22-Jan-98 20-Feb-98 F
3. Farid Harianto *) 2005 10.00 19-Aug-05 22-Aug-05 24-Aug-05 08-Sep-05
4. Muladi *) 2005 9.99 01-Dec-06 04-Dec-06 06-Dec-06 20-Dec-06 F
5. Surjadi Soedirdja *) 2006 4.62 04-Dec-07 05-Dec-07 07-Dec-07 27-Dec-07 F
6. Sutiyoso *) 2010 2.88 11-Nov-10 12-Nov-10 16-Nov-10 01-Dec-10 I
*) Independent Commissioners 2010 4.33 05-Oct-11 06-Oct-11 10-Oct-11 24-Oct-11 F
2011 7.79 27-Aug-12 28-Aug-12 30-Aug-12 13-Sep-12 F
BOARD OF DIRECTORS 2012 11.85 29-Nov-13 02-Dec-13 04-Dec-13 18-Dec-13 F
1. Ketut Budi Wijaya 2013 14.05 02-Dec-14 03-Dec-14 05-Dec-14 19-Dec-14 F
2. Alwi Sjaaf 2015 3.50 01-Apr-16 04-Apr-16 06-Apr-16 27-Apr-16 F
3. Jenny Kuistono
4. Johanes Jany ISSUED HISTORY
5. Lee Heok Seng Listing Trading
6. Richard H Setiadi Wp No. Type of Listing Shares Date Date
7. Tjokro Libianto 1. First Issue 30,800,000 28-Jun-96 28-Jun-96
2. Company Listing 244,000,000 T: 28-Jun-96 : 28-Feb-97
AUDIT COMMITTEE 3. Convertible Bond 105,072,500 28-Jun-96 28-Jun-96
1. Muladi 4. Right Issue 5,815,239,737 T: 16-Jan-98 : 30-Dec-10
2. Achamd Kurniadi 5. Add Listing (Merger) 1,063,275,250 02-Aug-04 02-Aug-04
3. Herbudianto 6. Warrant 279,099 T: 28-Jul-05 : 17-May-06
7. Stock Split 13,314,419,679 T: 28-Jul-06 : 26-Dec-07
CORPORATE SECRETARY 8. Warrant I 1,054,603,354 T: 23-Nov-06 : 05-Dec-07
Sri Mulyati Handojo 9. Additional Listing without RI 1,450,000,000 08-Jun-11 08-Jun-11
HEAD OFFICE
Menara Matahari Fl. 22, 7 Boulevard Palem Raya
Lippo Karawaci Central
Tangerang - 15811
Phone : (021) 256-69000
Fax : (021) 256-69099
Homepage : www.lippokarawaci.co.id
Email : corsec@lippokarawaci.co.id

TRADING ACTIVITIES
Lippo Karawaci Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,000 1,600 Jan-13 1,050 980 1,030 18,954 1,044,107 1,060,012 21
Feb-13 1,130 1,000 1,130 19,101 1,320,934 1,410,229 20
1,750 1,400 Mar-13 1,380 1,100 1,370 27,626 1,944,365 2,354,312 19
Apr-13 1,420 1,270 1,350 47,000 1,764,716 2,375,613 22
May-13 1,840 1,330 1,840 69,663 4,005,347 6,269,291 22
1,500 1,200
Jun-13 1,850 1,400 1,520 56,929 2,584,811 4,219,775 19
Jul-13 1,520 1,070 1,280 59,085 2,688,034 3,436,476 23
1,250 1,000
Aug-13 1,420 850 1,150 45,795 1,988,899 2,346,408 17
Sep-13 1,370 930 1,090 64,901 2,818,915 3,229,906 21
1,000 800
Oct-13 1,190 990 1,130 68,222 2,516,548 2,710,895 21
Nov-13 1,150 860 910 41,217 2,116,780 2,026,117 20
750 600 Dec-13 990 870 910 29,306 1,988,284 1,817,800 19
500 400 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
250 200 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
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
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
Closing Price*, Jakarta Composite Index (IHSG) and Oct-14 1,080 885 1,070 68,627 2,797,512 2,764,165 23
Property, Real Estate and Bulding Construction Index Nov-14 1,180 1,005 1,165 33,157 1,493,052 1,613,526 20
January 2013 - January 2017 Dec-14 1,195 970 1,020 49,252 1,979,358 2,101,691 20
90%
Jan-15 1,155 980 1,135 59,914 2,548,120 2,690,503 21
75% Feb-15 1,180 1,090 1,180 46,815 1,659,815 1,874,205 19
Mar-15 1,355 1,070 1,350 49,443 2,003,589 2,359,437 22
60% 59.7% 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
45% 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
30%
Sep-15 1,195 995 1,130 49,567 1,787,071 1,991,245 21
21.8%
Oct-15 1,320 1,120 1,190 65,756 2,280,706 2,763,596 21
15%
Nov-15 1,350 1,110 1,285 83,527 1,626,938 2,003,360 21
Dec-15 1,380 1,005 1,035 72,222 1,064,529 1,250,885 19
-
Jan-16 1,080 990 1,055 93,352 1,411,606 1,466,344 20

-15% 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
-26.5%
-30% Apr-16 1,095 1,000 1,015 76,777 1,496,730 1,564,087 21
Jan 13 Jan 14 Jan 15 Jan 16 Jan 17 May-16 1,020 900 955 77,251 1,671,778 1,589,084 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
Volume (Million Sh.) 26,782 23,222 18,995 21,170 1,250 Sep-16 1,140 990 990 74,183 2,538,907 2,631,927 21
Value (Billion Rp) 33,257 24,164 22,149 20,524 929 Oct-16 1,005 865 905 110,367 2,324,270 2,166,909 21
Days 244 242 244 246 21 Dec-16 780 690 720 80,180 2,542,735 1,877,300 20
Price (Rupiah) Jan-17 805 715 735 50,028 1,249,616 928,715 21

High 1,850 1,295 1,460 1,215 805
Low 850 855 910 690 715
Close 910 1,020 1,035 720 735
Close* 910 1,020 1,035 720 735
PER (X) 17.10 16.76 44.61 18.75 19.14

PER Industry (X) 9.57 16.29 13.36 24.89 28.26
PBV (X) 1.48 1.44 1.26 0.76 0.78

Public Accountant : Amir Abadi Jusuf, Aryanto, Mawar & Rekan (Member of RSM International)
Receivables 605,801 781,409 951,104 1,434,348 1,822,596

37,000
Inventories 10,504,910 13,894,009 16,553,036 20,458,990 23,370,271

27,750
Investment 85,784 130,431 123,284 385,271 506,997
Fixed Assets 2,222,377 2,810,892 3,208,763 2,731,533 2,902,208
18,500
Other Assets - 60,968 718,887 43,067 72,243
Total Assets 24,869,296 31,300,362 37,761,221 41,326,558 45,603,683 9,250
Growth (%) 25.86% 20.64% 9.44% 10.35%
-
Trade Payable 575,701 397,748 395,134 782,916 818,572 2012 2013 2014 2015 2016
Growth (%) 27.79% 17.47% 11.41% 4.99%
18,917
Paid up Capital 2,307,769 2,307,769 2,307,769 2,307,769 2,307,769 17,646
17,572
14,178
Par Value 100 100 100 100 100
11,470
3,790,222 4,748,453 6,975,738 7,101,438 7,945,093
13,068
Retained Earnings
Total Equity 11,470,106 14,177,573 17,646,449 18,916,765 22,075,139 8,565
Growth (%) 23.60% 24.47% 7.20% 16.70%

4,062

Total Revenues 6,160,214 6,666,214 11,655,042 8,703,650 10,324,633
-442
2012 2013 2014 2015 2016

Growth (%) 8.21% 74.84% -25.32% 18.62%
Cost of Revenues 3,339,267 3,619,572 6,257,664 4,791,656 6,020,661

Gross Profit 2,820,947 3,046,643 5,397,378 3,911,994 4,303,972
Operating Expenses 1,271,753 1,103,623 1,588,588 2,421,661 2,489,599 11,655
1,549,193 1,943,020 3,808,790 1,490,333 1,814,373 10,325

11,655
Operating Profit
Growth (%) 25.42% 96.02% -60.87% 21.74% 9,277
8,704
6,666
Other Income (Expenses) 27,895 -18,190 -113,812 -205,503 -256,626 6,900 6,160
Income before Tax 1,577,088 1,924,830 3,694,979 1,284,830 1,557,747

Tax 254,241 332,339 559,763 260,709 330,373
4,522

Growth (%) 20.38% 96.87% -67.33% 19.85%
2,145
-233
Period Attributable 1,060,222 1,228,230 2,547,285 535,394 882,411 2012 2013 2014 2015 2016
Comprehensive Income 2,482,548 1,676,148 2,996,884 616,914 1,636,156
Comprehensive Attributable 2,219,923 1,311,887 2,408,953 148,483 1,279,844
Dividend (Rp) 11.85 14.05 - 3.50 - 3,135
EPS (Rp) 57.32 69.01 135.85 44.38 53.18

BV (Rp) 497.02 614.34 764.65 819.70 956.56 2,496
DAR (X) 0.54 0.55 0.53 0.54 0.52

1,592
DER(X) 1.17 1.21 1.14 1.18 1.07
1,856
1,323 1,227
ROA (%) 5.32 5.09 8.30 2.48 2.69 1,216
1,024
ROE (%) 11.53 11.23 17.77 5.41 5.56
GPM (%) 45.79 45.70 46.31 44.95 41.69 577
OPM (%) 25.15 29.15 32.68 17.12 17.57

NPM (%) 21.47 23.89 26.90 11.77 11.89
-63
2012 2013 2014 2015 2016

Payout Ratio (%) 20.67 20.36 - 7.89 -
Yield (%) 1.65 1.95 - 0.49 -

COMPANY REPORT
LPPF
MATAHARI DEPARTMENT STORE TBK.
Company Profile

PTMatahariDepartmentStoreTbk.wasestablishedunderthenamePTStephensUtama
International Leasing Corp. dated April 1st, 1982. The Company started its commercial
operationsin1982.

Since30October2009,thCompanyhasengagedinthereailbussinessforseveraltypesof
products such as clothes, accessories, bags, shoes, cosmetics, and household appliances,
andmanagementconsultingservice.

The Companys operational head office is located in Menara Matahari 15th Fl., Jln.
Boulevard Palem Raya No. 7, Lippo Karawaci Tangerang, Banten, and the stores are
located in cities throughout Indonesia. As of 31 December 2016, the Company operates
150stores.

Parent company is PT Indonesia Meadow and PT Indonesia Meadow parent company is
MeadowAsiaHoldingLtd.,acompanydomiciledinCaymanIslands.

ThetotalnumberofemployeesatDecember31st,2016was13,828.
February 2017
Disclaimer:

LPPF MatahariDepartmentStoreTbk.[S]
Industry Sub Sector : Retail Trade (93) Market Capitalization : 43,112,239,632,000
22 | 43.1T | 0.75% | 59.71%
8 | 37.5T | 2.01% | 40.61%

Established Date : 01-Apr-1982 1. PT Multipolar Tbk. 509,992,000 : 17.48%
Under Writer IPO :
PT Aseam Indonesia DIVIDEND ANNOUNCEMENT
PT Finconesia Bonus Cash Recording Payment
F/I
PT Multicor Year Shares Dividend Cum Date Ex Date Date Date
PT Bank Pembangunan Indonesia 1990 5:1 50.00 11-Jul-90 12-Jul-90 20-Jul-90 22-Aug-90 I
PT Danareksa 1990 100.00 02-Jul-91 03-Jul-91 10-Jul-91 12-Aug-91 F
Securities Administration Bureau : 1991 1 :2 175.00 13-Jul-92 14-Jul-92 21-Jul-92 11-Aug-92 F
PT Sharestar Indonesia 1992 75.00 10-Jun-93 11-Jun-93 19-Jun-93 19-Jul-93 F
Berita Satu Plasa 7th Fl. 1993 5:1 50.00 21-Jul-94 22-Jul-94 29-Jul-94 26-Aug-94 F
Jln. Jend. Gatot Subroto Kav. 35-36, Jakarta 12950 1994 75.00 23-Jun-95 26-Jun-95 04-Jul-95 03-Aug-95 F
2010 32.25 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
BOARD OF COMMISSIONERS 2010 14.00 22-Aug-11 23-Aug-11 25-Aug-11 15-Sep-11 F
1. John Bellis *) 2013 157.70 11-Jun-14 12-Jun-14 16-Jun-14 30-Jun-14 F
2. Herbert Stepic *) 2015 427.30 02-Jun-16 03-Jun-16 07-Jun-16 29-Jun-16 F
3. Jonathan Limbong Parapak *)
4. Henry Jani Liando ISSUED HISTORY
5. Johanes Jany Listing Trading
6. John Riady No. Type of Listing Shares Date Date
7. Niel Byron Nielson 1. First Issue 2,140,000 09-Oct-89 09-Oct-89
8. Sigit Prasetya 2. Partial Listing 2,250,000 12-Apr-90 24-Apr-90
9. William Travis Saucer 3. Bonus Shares 878,000 27-Aug-90 27-Aug-90
*) Independent Commissioners 4. Bonus Shares 10,536,000 13-Aug-92 13-Aug-92
5. Dividen Shares 3,160,800 02-Sep-94 02-Sep-94
BOARD OF DIRECTORS 6. Company Listing 11,880,000 11-Jun-97 11-Jun-97
1. Bunjamin Jonatan Mailool 7. Right Issue 1,295,481,600 19-Jul-01 19-Jul-01
2. Andre Rumantir 8. Reverse Stocks -1,061,061,120 09-Nov-09 09-Nov-09
3. Andy N. Purwohardono 9. Right Issue 2,652,652,800 04-Dec-09 04-Dec-09
4. Eddy Harsono Handoko
5. Larry Michael Remsen
AUDIT COMMITTEE
1. John Bellis
2. Farid Harianto
3. Isnandar Rachmat Ali
CORPORATE SECRETARY
Miranti Hadisusilo
HEAD OFFICE
Menara Matahari 15th Fl.
Jln. Bulevar Palem Raya No. 7, Lippo Karawaci - 1200
Tangerang 15811
Phone : (021) 546-9333, 547-5333, 547-5758
Fax : (021) 547-5650
Homepage : www.matahari.co.id
Email : miranti.hadisusilo@matahari.co.id

TRADING ACTIVITIES
Matahari Department Store Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
22,000 1,600 Jan-13 - - 2,700 - - - -
Feb-13 3,375 2,500 3,375 8 8 20 2
19,250 1,400 Mar-13 11,550 4,200 11,000 5,694 2,299,282 17,961,295 5
Apr-13 12,200 11,000 12,100 16,693 158,212 1,822,277 22
May-13 14,200 11,950 13,000 15,960 94,072 1,243,071 22
16,500 1,200
Jun-13 13,050 9,750 11,600 20,216 159,803 1,792,094 19
Jul-13 13,250 10,500 12,450 19,188 99,430 1,158,399 23
13,750 1,000
Aug-13 14,500 10,500 12,450 39,379 254,031 3,143,021 17
Sep-13 13,600 10,000 10,500 30,316 109,528 1,229,329 21
11,000 800
Oct-13 13,300 10,300 12,300 15,842 54,281 633,331 21
Nov-13 12,200 10,550 11,550 15,927 65,331 745,396 20
8,250 600 Dec-13 11,400 10,300 11,000 14,073 45,788 493,022 19
5,500 400 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
2,750 200 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
Jun-14 14,550 13,500 13,800 37,570 61,124 855,042 21
Jul-14 15,450 13,475 14,500 36,632 83,450 1,204,403 18
Aug-14 18,000 13,725 16,275 71,943 487,072 7,064,996 20
Sep-14 17,100 15,650 16,225 66,159 97,910 1,593,883 22
Trade, Sevices and Investment Index Nov-14 15,700 14,025 15,000 47,206 75,862 1,121,722 20
700%
Jan-15 16,200 14,125 15,525 58,908 446,605 6,762,194 21
600% Feb-15 18,100 14,800 17,850 59,414 263,261 3,981,884 19
Mar-15 20,000 17,300 19,700 72,275 119,919 2,180,042 22
500% Apr-15 20,225 16,100 17,500 67,293 120,762 2,193,928 21
447.2% May-15 18,450 16,200 17,450 70,303 118,558 2,058,595 19
400% 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
300%
Sep-15 17,475 15,150 16,100 63,237 92,007 1,467,454 21
Oct-15 18,025 15,600 16,575 87,571 129,214 2,124,978 21
200%
Nov-15 16,875 14,500 15,650 70,212 99,786 1,568,901 21
Dec-15 17,900 15,800 17,600 59,417 69,198 1,168,321 19
100%
21.8% Jan-16 17,750 15,625 16,000 69,519 115,327 1,906,616 20

- 14.7% 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
-100% Apr-16 19,450 17,275 19,000 58,129 117,473 2,151,389 21
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
Frequency (Thou. X) 193 568 806 1,001 67 Nov-16 17,800 13,325 14,400 148,743 321,547 4,955,632 22
Days 191 242 244 246 21 Dec-16 16,100 14,025 15,125 94,024 171,236 2,543,130 20
Price (Rupiah) Jan-17 15,900 14,550 14,775 67,458 129,962 1,982,508 21

High 14,500 18,000 20,225 22,575 15,900
Low 2,500 10,800 14,125 13,325 14,550
Close 11,000 15,000 17,600 15,125 14,775
Close* 11,000 15,000 17,600 15,125 14,775
PER (X) 27.91 30.96 28.84 20.56 20.08

PER Industry (X) 15.42 22.13 14.53 19.07 17.53
PBV (X) -41.08 -241.68 46.43 30.03 29.34

Cash & Cash Equivalents 999,872 772,217 785,895 946,658 1,712,844 4,875
Receivables 73,574 62,932 109,381 76,026 94,566

519,601 723,809 955,231 1,007,811 995,276 3,900
Inventories
Current Assets 1,744,220 1,703,067 2,117,507 2,272,941 2,974,052
2,925
Fixed Assets 694,005 727,186 725,954 876,566 979,858
Other Assets 21,908 28,268 24,577 153,172 252,750
1,950
Total Assets 2,929,752 2,936,882 3,408,372 3,889,291 4,858,878
Growth (%) 0.24% 16.05% 14.11% 24.93% 975

Long Term Liabilities 2,691,079 1,828,073 712,261 344,110 415,281 2012 2013 2014 2015 2016
Growth (%) -23.51% -13.11% -13.86% 7.92%
Paid up Capital 386,794 386,794 386,794 386,794 386,794 1,855

Par Value 5,000 & 350 & 100 5,000 & 350 & 100 5,000 & 350 & 100 5,000 & 350 & 100 5,000 & 350 & 100
1,098
Retained Earnings 1,253,608 2,403,768 3,362,730 4,290,564 5,040,383 178

2012 2013
-1,931,532 -781,372 177,590 1,106,167 1,855,243
341
Total Equity
Growth (%) 59.55% N/A 522.88% 67.72% -417
2014 2015 2016
INCOME STATEMENTS Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 -1,174 -781
Total Revenues 5,616,932 6,754,326 7,925,547 9,006,893 9,897,046

Growth (%) 20.25% 17.34% 13.64% 9.88%
-1,932
-1,932
Cost of Revenues 1,910,789 2,391,274 2,877,507 3,335,638 3,685,279

Gross Profit 3,706,143 4,363,052 5,048,040 5,671,255 6,211,767
Expenses (Income) 2,121,792 2,548,184 2,964,128 3,333,607 3,677,856
9,007
Growth (%) 14.55% 14.82% 12.18% 8.40%
9,897
7,926
6,754
7,878

5,617
Tax 388,114 373,462 431,426 463,973 512,961

Profit for the period 770,881 1,150,160 1,419,118 1,780,848 2,019,705 3,840
Growth (%) 49.20% 23.38% 25.49% 13.41%

1,821
Period Attributable 770,881 1,150,160 1,419,118 1,780,848 2,019,705 -198
Comprehensive Income 770,881 1,150,160 1,419,118 1,798,352 1,995,902 2012 2013 2014 2015 2016
Comprehensive Attributable 770,881 1,150,160 1,419,118 1,798,352 1,995,902
Current Ratio (%) 80.37 90.10 84.08 93.19 114.90
2,020
Dividend (Rp) - 157.70 - 427.30 -
1,781
2,020
EPS (Rp) 264.19 394.17 486.35 610.31 692.17

BV (Rp) -661.96 -267.78 60.86 379.09 635.81 1,608
1,419
DAR (X) 1.66 1.27 0.95 0.72 0.62 1,150

DER(X) -2.52 -4.76 18.19 2.52 1.62
1,196
771
ROA (%) 26.31 39.16 41.64 45.79 41.57 784
ROE (%) -39.91 -147.20 799.10 160.99 108.86

GPM (%) 65.98 64.60 63.69 62.97 62.76 372
OPM (%) 28.21 26.87 26.29 25.95 25.60

NPM (%) 13.72 17.03 17.91 19.77 20.41
-40
2012 2013 2014 2015 2016

Payout Ratio (%) - 40.01 - 70.01 -
Yield (%) - 1.43 - 2.43 -

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

18th, 1962. The Company commenced its commercial operations in 1963 and engaged in
theplantationbusinesslocatedinNorthSumatera,SouthSumatera,Java,EastKalimantan,
North Sulawesi, and South Sulawesi with a total planted area of 110,656 hectares as of
September 30th, 2014. The main products are crude palm oil and rubber, and small
quantitiesofcocoa,teaandseeds.

The Company is domiciled in Jakarta with operational branch offices located in Medan,
Palembang,Makassar,SurabayaandSamarinda.TheCompanysregisteredofficeaddress
isatPrudentialTower15thFl.,Jln.Jend.SudirmanKav.79,Jakarta.

Lonsums 38 inti estates (Company owned) and 14 plasma estates (smallholder farmer),
which are currently operational in Sumatra, Java, Kalimantan and Sulawesi, make use of
advanced research and development as well as agromanagement expertise and a highly
skilledandanexperiencedworkforce.Thescopeofthebusinesshasbroadenedtoinclude
plant breeding, planting, harvesting, milling, processing and the selling of palm products,
rubber, cocoa and tea. The Company now has 20 factories which are operational in
Sumatra,JavaandSulawesi.Lonsumisknownintheindustryforthequalityofitsoilpalm
ancocoaseeds,andthishightechbusinessisnowamajorgrowthdriverfortheCompany.

In addition to the development of its own plantations, the Company is developing
plantationsonbehalfoflocalsmallholders(plasmaplantations)inlinewiththenucleus
plasmaplantationschemethatwasselectedwhentheCompanyexpandeditsplantations.

PT Salim Ivomas Pratama Tbk. (SIMP) and First Pacific Company Limited, Hong Kong, are
theparentcompanyandtheultimateparentcompanyoftheGroup.AsofDecember31st,
2016,theGrouphadatotalof15,281permanentemployees.

ThesubsidiariescontrolledbytheCompanyeitherdirectlyorindirectlyareasfollows:
PTMultiAgroKencanaPrima,
LonsumSingaporePte.Ltd.,
PTTaniMusiPersada,
PTSumatraAgriSejahtera,
PTTaniAndalasSejahtera,
AgriInvestmentsPte.,Ltd.,
PTWushanHijauLestari.
February 2017
Disclaimer:

LSIP PPLondonSumatraIndonesiaTbk.[S]
87 | 10.6T | 0.18% | 83.43%
51 | 8.14T | 0.44% | 77.07%

Established Date : 18-Dec-1962 1. PT Salim Ivomas Pratama 4,058,425,010 : 59.48%
Under Writer IPO :
F/I
Plaza Central Building 2nd Fl. 1996 10 : 14 23-Jul-97 24-Jul-97 01-Aug-97 25-Aug-97 B
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1996 110.00 23-Jul-97 24-Jul-97 01-Aug-97 25-Aug-97 F
2008 208.00 26-May-09 27-May-09 29-May-09 05-Jun-09 F
1. Moleonoto (Paulus Moleonoto) 2010 61.00 16-Jun-11 17-Jun-11 21-Jun-11 06-Jul-11 F
2. Edy Sugito *) 2011 100.00 05-Jun-12 06-Jun-12 08-Jun-12 22-Jun-12 F
3. Monang Silalahi *) 2012 66.00 14-Jun-13 17-Jun-13 19-Jun-13 03-Jul-13 F
4. Axton Salim 2013 46.00 16-Jun-14 17-Jun-14 19-Jun-14 03-Jul-14 F
5. Hendra Widjaja 2014 53.00 12-May-15 13-May-15 18-May-15 05-Jun-15 F
6. Werianty Setiawan 2015 37.00 09-Jun-16 10-Jun-16 14-Jun-16 28-Jun-16 F
ISSUED HISTORY
1. Benny (Benny Tjoeng) No. Type of Listing Shares Date Date
2. Joefly Joesoef Bahroeny 1. First Issue 38,800,000 05-Jul-96 05-Jul-96
3. Mark Julian Wakeford 2. Company Listing 163,538,872 05-Jul-96 05-Jul-96
4. Tan Agustinus Dermawan 3. Bonus Shares 283,274,421 26-Aug-97 26-Aug-97
5. Tio Eddy Hariyanto 4. Additional Listing without RI 280,096,500 24-Jun-04 24-Jun-04
5. Mandatory Convertible Note Conversion 329,519,500 22-Sep-04 22-Sep-04
AUDIT COMMITTEE 6. Mandatory Convertible Note Conversion 269,343,500 02-Nov-07 02-Nov-07
1. Monang Silalahi 7. Stock Splits 5,458,291,172 25-Feb-11 25-Feb-11
2. Hendra Susanto
3. Timotius
CORPORATE SECRETARY
Endah Resmiati Madnawidjaja
HEAD OFFICE
Ariobimo Sentral 12th Floor
Jln. HR. Rasuna Said Blok X-2 Kav. 5
Jakarta 12950
Phone : (021) 80657388
Fax : (021) 8065-7399
Homepage : www.londonsumatra.com
Email : endah.resmiati@londonsumatra.com
lonsum@londonsumatra.com

TRADING ACTIVITIES
PP London Sumatra Indonesia Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,600 160 Jan-13 2,525 2,150 2,200 17,678 323,112 747,259 21
Feb-13 2,325 2,025 2,075 14,561 260,360 572,168 20
2,275 140 Mar-13 2,125 1,810 1,930 22,788 292,084 572,071 19
Apr-13 1,930 1,520 1,520 18,150 267,715 477,137 22
May-13 1,940 1,490 1,920 24,889 393,131 672,303 22
1,950 120
Jun-13 1,980 1,670 1,720 34,477 528,876 966,936 19
Jul-13 1,740 1,120 1,120 39,032 633,985 848,808 23
1,625 100
Aug-13 1,500 960 1,490 41,005 883,004 1,082,001 17
Sep-13 1,670 1,260 1,270 42,086 794,744 1,163,598 21
1,300 80
Oct-13 1,640 1,230 1,600 32,600 804,006 1,161,385 21
Nov-13 1,870 1,600 1,840 26,145 553,262 971,603 20
975 60 Dec-13 2,050 1,740 1,930 24,982 511,934 970,207 19
650 40 Jan-14 1,980 1,470 1,655 72,532 1,054,575 1,738,764 20

Feb-14 2,110 1,625 2,070 50,243 849,896 1,599,785 20
325 20 Mar-14 2,400 2,020 2,210 69,302 901,196 2,009,766 20
Apr-14 2,480 2,120 2,450 56,810 770,823 1,800,557 20
May-14 2,465 2,185 2,310 43,233 459,812 1,076,352 18
Jun-14 2,400 2,175 2,315 40,198 381,878 874,975 21
Jul-14 2,315 1,995 2,100 55,975 494,979 1,073,280 18
Aug-14 2,150 1,855 1,870 67,017 593,511 1,193,758 20
Sep-14 1,930 1,715 1,900 61,978 713,775 1,330,095 22
Agriculture Index Nov-14 2,060 1,865 1,985 44,540 492,111 968,338 20
45%
Jan-15 2,070 1,805 1,840 45,212 435,491 844,838 21
30% Feb-15 1,960 1,775 1,880 49,958 515,066 963,712 19
21.8% Mar-15 1,945 1,640 1,730 47,115 523,934 963,618 22
15% Apr-15 1,745 1,370 1,425 50,810 534,502 841,066 21
May-15 1,790 1,380 1,665 62,094 775,206 1,263,882 19
- Jun-15 1,780 1,515 1,555 34,739 346,699 577,961 21
Jul-15 1,685 1,315 1,355 30,607 291,516 453,815 19
-8.2%
Aug-15 1,425 910 1,080 36,766 333,486 390,385 20
-15%
Sep-15 1,450 1,015 1,385 41,532 510,467 649,682 21
Oct-15 1,585 1,310 1,550 51,469 608,049 921,948 21
-30%
Nov-15 1,560 1,200 1,200 45,437 475,644 634,604 21
-36.1%
Dec-15 1,415 1,220 1,320 32,836 350,465 464,155 19
-45%
Jan-16 1,480 1,210 1,425 31,138 331,930 434,693 20

-60% Feb-16 1,535 1,335 1,430 30,818 272,850 394,239 20
Mar-16 1,830 1,425 1,820 40,352 326,021 544,021 21
-75% Apr-16 1,840 1,525 1,535 35,945 291,909 489,531 21
Jun-16 1,595 1,330 1,380 38,753 346,859 506,016 22
Jul-16 1,535 1,345 1,405 41,610 503,283 723,939 16
Days 244 242 244 246 21 Dec-16 1,905 1,650 1,740 24,893 201,281 360,504 20
Price (Rupiah) Jan-17 1,780 1,550 1,550 39,606 412,231 686,516 21

High 2,525 2,480 2,070 1,905 1,780
Low 960 1,470 910 1,210 1,550
Close 1,930 1,890 1,320 1,740 1,550
Close* 1,930 1,890 1,320 1,740 1,550
PER (X) 17.11 13.84 14.45 32.70 29.12

PER Industry (X) 15.46 19.34 -6.37 19.38 19.46
PBV (X) 1.99 1.84 1.23 1.61 1.44

Cash & Cash Equivalents 1,799,137 1,401,395 1,356,532 737,114 1,140,614 10,000
Receivables 52,132 116,796 84,586 112,289 202,745

645,954 374,485 380,360 398,426 569,085 8,000
Inventories
Current Assets 2,593,816 1,999,126 1,863,506 1,268,557 1,919,661
6,000
Fixed Assets 2,229,928 2,776,825 3,238,752 3,427,971 3,436,091
Other Assets 61,331 63,000 127,552 239,021 332,603
4,000
Total Assets 7,551,796 7,974,876 8,655,146 8,848,792 9,459,088
Growth (%) 5.60% 8.53% 2.24% 6.90% 2,000
Current Liabilities 792,482 804,428 748,076 571,162 780,627 -

Long Term Liabilities 479,601 556,461 688,236 939,652 1,032,477 2012 2013 2014 2015 2016
Growth (%) 6.98% 5.54% 5.19% 20.01%
7,219 7,338
Paid up Capital 682,286 682,286 682,286 682,286 682,286
6,614
Par Value 100 100 100 100 100

6,086

6,279,713 6,613,987 7,218,834 7,337,978 7,645,984
4,526
Total Equity
Growth (%) 5.32% 9.14% 1.65% 4.20% 2,967
Total Revenues 4,211,578 4,133,679 4,726,539 4,189,615 3,847,869

Growth (%) -1.85% 14.34% -11.36% -8.16%
-153
2012 2013 2014 2015 2016
Cost of Revenues 2,530,503 2,880,220 3,090,100 3,073,774 2,737,084

Gross Profit 1,681,075 1,253,459 1,636,439 1,115,841 1,110,785
Expenses (Income) 357,102 227,810 395,917 279,935 300,011
Operating Profit 1,323,973 1,025,649 1,240,522 835,906 810,774 4,727
-22.53% 20.95% -32.62% -3.01% 4,212 4,134 4,190

Growth (%)
4,727
3,848
3,762
Other Income (Expenses) 48,110 -28,658 -51,591 -8,024 -32,213

Income before Tax 1,372,083 996,991 1,188,931 827,882 778,561 2,798
Tax 256,544 228,366 272,236 204,573 185,792

Profit for the period 1,115,539 768,625 916,695 623,309 592,769 1,834
Growth (%) -31.10% 19.26% -32.00% -4.90%

870
Period Attributable 1,116,186 769,493 916,704 623,312 593,829 -95
Comprehensive Income 1,122,575 788,003 918,566 689,704 560,324 2012 2013 2014 2015 2016
Comprehensive Attributable 1,123,222 788,871 918,575 689,707 561,384
Current Ratio (%) 327.30 248.52 249.11 222.10 245.91
1,116
Dividend (Rp) 66.00 46.00 53.00 37.00 - 1,116
EPS (Rp) 163.60 112.78 134.36 91.36 87.04 917
BV (Rp) 920.39 969.39 1,058.04 1,075.50 1,120.64 888
769
DAR (X) 0.17 0.17 0.17 0.17 0.19 623 593
DER(X) 0.20 0.21 0.20 0.21 0.24
660
ROA (%) 14.77 9.64 10.59 7.04 6.27 433
ROE (%) 17.76 11.62 12.70 8.49 7.75

GPM (%) 39.92 30.32 34.62 26.63 28.87 205
OPM (%) 31.44 24.81 26.25 19.95 21.07

NPM (%) 26.49 18.59 19.39 14.88 15.41
-22
2012 2013 2014 2015 2016

Payout Ratio (%) 40.34 40.79 39.45 40.50 -
Yield (%) 2.87 2.38 2.80 2.80 -

COMPANY REPORT
MNCN
MEDIA NUSANTARA CITRA TBK.
Company Profile

PT Media Nusantara Citra Tbk. has core businesses in content and the ownership and
operations of 3 out of the 10 national FreeToAir televisions in Indonesia. MNC have 3
FreeToAir (FTA) TVs RCTI, MNCTV and GlobalTV as well as 16 channels created and
produced by MNC that is broadcasted on PayTV. Currently, MNC also have other media
based business that supports the core businesses of MNC. Those businesses consist of
radio,printmedia,talentmanagement,andaproductionhouse.MNCwasestablishedon
June17,1997.

ThescopeofCompany'sactivitiesistoengageingeneraltrading,construction,industrial,
agricultural, transportation, printing, multimedia through satellite and other
telecommunicationsperipheral,servicesandinvestments.

The Companyis part of Mediacom Group. The Company has ownership in the following
subsidiaries:
Broadcasting:
1. PTRajawaliCitraTelevisiIndonesia(RCTI)
2. PTGlobalInformasiBermutu
3. PTCiptaTelevisiPendidikanIndonesia(CTPI)
4. PTSunTelevisiNetwork(STN)andsubsidiaries
5. PTMNCNetworks(MNCN)andsubsidiaries
Printandonline:
1. PTMediaNusantaraInformasiandsubsidiary
2. PTMNIGlobal
3. PTMNIPublishinganditssubsidiary
4. PTOTTIndonesia
Advertisingagency:
1. PTCrossMediaInternasional(CMI)andsubsidiaries
Contentproduction:
1. PTMNCPictures
2. MNCInternationalMiddleEastLtd.
Talentmanagementandothers:
1. PTStarMediaNusantara
2. PTMNCLisensiInternational
3. PT.MNCMediaUtama
4. PTMNCMediaInvestasi

TheCompanystarteditscommercialoperationsinDecember2001.TheCompanyandits
subsidiarieshadatotalof8,215employeesasofSeptember30th,2016.
February 2017
Disclaimer:

MNCN MediaNusantaraCitraTbk.
Industry Sub Sector : Advertising, Printing And Media (95) Market Capitalization : 24,197,995,432,500
41 | 24.2T | 0.42% | 70.02%
34 | 11.7T | 0.63% | 68.09%

Established Date : 17-Jun-1997 1. PT Global Mediacom Tbk. 8,445,501,950 : 59.16%
Listing Date : 22-Jun-2007 2. Public (<5%) 5,830,601,550 : 40.84%
Under Writer IPO :
PT Bhakti Securities DIVIDEND ANNOUNCEMENT
PT Danareksa Sekuritas Bonus Cash Recording Payment
F/I
PT BSR Indonesia 2007 5.00 01-Dec-08 02-Dec-08 04-Dec-08 19-Dec-08 F
Komplek Perkantoran ITC Roxy Mas Blok E1 No. 10-11 2009 5.00 02-Oct-09 05-Oct-09 07-Oct-09 21-Oct-09 I
Jln. K.H. Hasyim Ashari Jakarta 10150 2009 7.00 29-Nov-10 30-Nov-10 02-Dec-10 17-Dec-10 F
Phone : (021) 631-7828 2010 15.00 29-Nov-11 30-Nov-11 02-Dec-11 16-Dec-11 F
2012 55.00 06-Sep-13 09-Sep-13 11-Sep-13 25-Sep-13 F
BOARD OF COMMISSIONERS 2013 25.00 24-Dec-13 27-Dec-13 02-Jan-14 16-Jan-14 I
1. Hary Tanoesoedibjo 2013 35.00 14-Oct-14 15-Oct-14 17-Oct-14 31-Oct-14 F
2. Sutanto *) 2014 63.00 27-May-15 28-May-15 01-Jun-15 17-Jun-15 F
3. Adam Chesnoff
*) Independent Commissioners ISSUED HISTORY
Listing Trading
BOARD OF DIRECTORS No. Type of Listing Shares Date Date
1. David Fernando Audy 1. First Issue 4,125,000,000 22-Jun-07 22-Jun-07
2. Angela Herliani Tanoesoedibjo 2. Company Listing 9,625,000,000 T: 22-Jun-07 : 22-Feb-08
3. Arya Mahendra Sinulingga 3. EMSOP Conversion II 23,504,500 T: 29-Nov-10 : 06-Jan-11
4. Diana Airin 4. EMSOP Conversion II & III 52,960,500 T: 17-Feb-11 : 19-Jul-11
5. Ella Kartika 5. EMSOP Conversion II, III & IV 37,076,500 T: 26-Jul-11 : 21-May-12
6. Faisal Dharma Setiawan 6. EMSOP Conversion III & IV 3,988,000 04-Aug-11 04-Aug-11
7. Kanti Mirdiati Imansyah 7. EMSOP Conversion II, III, IV & V 79,965,500 T: 23-May-12 : 15-Jun-12
8. ESOP/MSOP Conversion II, III, IV & V 8,114,000 T: 22-Oct-12 : 19-Nov-12
AUDIT COMMITTEE 9. ESOP/MSOP Conversion III, IV & V 517,500 T: 29-Oct-12 : 01-Nov-12
1. Sutanto 10. ESOP/MSOP Conversion III, IV, V & VI 143,344,500 T: 29-May-13 : 27-Nov-13
2. Hery Kusnanto 11. Revision ESOP/MSOP III, IV, V & VI -8,000 24-Jun-13 24-Jun-13
3. John Aristianto Prasetio 12. ESOP/MSOP Conversion V & VI 176,625,500 T: 28-May-14 : 19-Nov-14
4. Mohamed Idwan Ganie 13. ESOP/MSOP Conversion VIII 15,000 18-Aug-16 18-Aug-16
CORPORATE SECRETARY
I Made Ray Karuna Wijaya
HEAD OFFICE
MNC Tower 26th Fl.
Jln. Kebon Sirih Kav. 17 - 19
Jakarta 10340
Phone : (021) 390-0065
Fax : (021) 392-0109, 390-4965, 392-7859
Homepage : www.mncgroup.com
Email : ray.wijaya@mncgroup.com

TRADING ACTIVITIES
Media Nusantara Citra Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
3,800 400 Jan-13 2,650 2,275 2,375 34,386 642,003 1,559,472 21
Feb-13 2,975 2,300 2,950 26,895 380,307 980,432 20
3,325 350 Mar-13 3,275 2,750 2,825 30,497 358,184 1,053,598 19
Apr-13 3,275 2,850 3,125 25,671 1,047,479 2,498,012 22
May-13 3,675 3,025 3,350 40,792 827,156 2,754,723 22
2,850 300
Jun-13 3,350 2,425 3,125 52,067 641,136 1,868,702 19
Jul-13 3,375 2,650 3,100 37,323 386,505 1,188,245 23
2,375 250
Aug-13 3,375 2,350 2,950 40,251 459,397 1,292,266 17
Sep-13 3,375 2,700 2,700 37,027 594,473 1,829,040 21
1,900 200
Oct-13 3,025 2,475 2,500 42,841 679,718 1,829,601 21
Nov-13 2,725 2,325 2,675 39,727 547,552 1,370,696 20
1,425 150 Dec-13 2,750 2,400 2,625 27,379 238,428 610,480 19
950 100 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
475 50 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
Jun-14 2,900 2,605 2,760 30,902 153,671 427,351 21
Jul-14 2,800 2,550 2,615 41,980 222,941 590,045 18
Aug-14 2,980 2,640 2,805 40,202 189,092 537,696 20
Sep-14 3,230 2,650 3,195 41,293 189,308 558,581 22
Trade, Sevices and Investment Index Nov-14 2,820 2,265 2,405 64,961 382,816 934,593 20
60%
Jan-15 2,905 2,460 2,860 58,171 413,394 1,160,725 21
45% Feb-15 3,150 2,800 3,150 88,106 421,290 1,283,964 19
Mar-15 3,160 2,725 2,865 75,423 367,509 1,087,081 22
30% 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
21.8%
15% Jun-15 2,180 1,815 1,940 58,576 275,467 547,239 21
14.7%
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
Oct-15 2,000 1,630 1,785 76,795 316,534 573,119 21
-15%
Nov-15 1,840 1,595 1,625 38,242 108,085 184,152 21
Dec-15 1,925 1,635 1,855 36,738 153,831 273,103 19
-30%
-34.2%
Jan-16 1,870 1,185 1,190 56,486 529,219 764,824 20
-45% 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
-60% Apr-16 2,415 1,960 2,350 67,257 621,218 1,402,403 21
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
Days 244 242 244 246 21 Dec-16 1,900 1,470 1,755 40,351 548,551 1,036,970 20
Price (Rupiah) Jan-17 1,810 1,625 1,695 34,701 274,029 474,246 21

High 3,675 3,230 3,160 2,415 1,810
Low 2,275 2,180 1,410 1,185 1,625
Close 2,625 2,540 1,855 1,755 1,695
Close* 2,625 2,540 1,855 1,755 1,695
PER (X) 26.86 19.58 22.34 13.02 12.58

PER Industry (X) 15.42 22.13 14.53 19.07 17.53
PBV (X) 4.78 4.14 2.77 2.57 2.48

Public Accountant : Osman Bing Satrio & Eny (Member of Deloitte Touche Tohmatsu Limited)
Cash & Cash Equivalents 528,415 574,761 1,132,001 306,810 598,444 15,000
Receivables 2,615,430 3,062,803 3,215,473 3,395,309 3,394,130

1,139,486 1,332,726 1,634,832 1,593,231 1,941,225 12,000
Inventories
Current Assets 6,766,799 6,811,828 8,670,175 7,726,851 7,516,826
9,000
Fixed Assets 985,995 1,542,677 2,659,203 4,145,497 4,609,616
Other Assets 38,494 56,382 530,609 78,920 93,736
6,000
Total Assets 8,960,942 9,615,280 13,609,033 14,474,557 14,630,080
Growth (%) 7.30% 41.54% 6.36% 1.07% 3,000
Current Liabilities 1,250,225 1,606,491 892,276 1,039,805 4,322,807 -

Long Term Liabilities 413,555 265,215 3,323,544 3,868,359 541,166 2012 2013 2014 2015 Sep-16
Growth (%) 12.50% 125.24% 16.42% -0.90%
9,393 9,566
Paid up Capital 1,395,613 1,409,946 1,427,609 1,427,609 1,427,610 9,766

7,297
Par Value 100 100 100 100 100
7,774

7,297,162 7,743,574 9,393,213 9,566,393 9,766,107
5,782
Total Equity
Growth (%) 6.12% 21.30% 1.84% 2.09% 3,789
Total Revenues 6,265,260 6,522,347 6,665,978 6,444,935 5,264,438

Growth (%) 4.10% 2.20% -3.32%
-195
2012 2013 2014 2015 Sep-16
Cost of Revenues 2,856,657 2,850,657 2,813,381 2,860,607 2,303,569

Gross Profit 3,408,603 2,850,657 3,852,597 3,584,328 2,960,869
Expenses (Income) 1,147,895 1,278,161 1,308,818 1,903,550 922,721
Operating Profit - - - - - 6,522 6,666
6,265 6,445
Growth (%)
6,666
5,264
5,306

Tax 497,689 583,687 660,347 403,810 494,446

2,586
Growth (%) 2.66% 4.07% -32.20%

1,227
Current Ratio (%) 541.25 424.02 971.69 743.11 173.89
1,883
1,810
Dividend (Rp) 55.00 60.00 63.00 - - 1,883 1,763
EPS (Rp) 118.74 119.95 123.42 83.05 101.06 1,544
BV (Rp) 522.86 549.21 657.97 670.10 684.09 1,499
1,277
DAR (X) 0.19 0.19 0.31 0.34 0.33
DER(X) 0.23 0.24 0.45 0.51 0.50
1,115
ROA (%) 19.67 18.82 13.84 8.82 10.55 731
ROE (%) 24.16 23.37 20.05 13.35 15.81

GPM (%) 54.40 43.71 57.79 55.61 56.24 347
OPM (%) - - - - -
NPM (%) 28.14 27.75 28.25 19.81 29.32
-38
2012 2013 2014 2015 Sep-16

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

COMPANY REPORT
MYRX
HANSON INTERNATIONAL TBK.
Company Profile

PTHansonInternationalTbk.(formerlyPTHansonIndustriUtamaTbk.)wasestablishedon
July7th,1971andstarteditscommercialoperationin1973.

TheCompanyismainlyengagedinindustry,generaltradeanddevelopment.TheCompany
starteditscommercialoperationin1997.TheCompanyscurrentactivityisonlyinvesting
initssubsidiaries.

Hanson establishing in the Property Sector. Hansonland PT Hanson International Tbk. is
emerging as Indonesias major property developer, with a landbank in excess of 3,000
hectaresinverystrategiclocationsingreaterJakarta.HansonlandisdedicatedtoBuilding
CitiesforLifeandtodeliverhighqualitypropertiestoitscustomers.

PTHansonInternationalTbk.,holdingcompanyalongwithitssubsidiarieshasmadesteady
progress in the development of land banks into residential and commercial areas. The
CompanyhassignedstrategicJointVentureagreementswithCiputraGroup,areputedand
established company to develop close to 500 hectares of land in Maja Raya, Greater
Jakarta.

TheCompanyhasalsosecuredJointVentureagreementswithaconsortiumofprominent
developers in Indonesia to develop 850 Hectares of land in Serpong. This would become
City of Future with all modern amenities. The Company partners with Pacific Millennium
Land is a consortium of prominent developers of Jakarta, who foresee Serpong as a
tremendous potential opportunity and are committed to develop a world class city. The
developers are experienced in building Seven Star and Five star Hotels, high rise
commercial and residential properties. Hanson has synergized with PML to develop
MillenniumCityinSerpongoveranareaof850Hectares.ThisstrategiclocationinSerpong
areawillbethemostsoughtafterlivingdestinationbecauseoftheexcellentinfrastructure,
schools,medicalfacilitiesandshoppingmalls.

The Company does not have parent entity and ultimate parent entity which has control
over the Company. The total number of employees at September 30th, 2016 was 8
permanentemployees.
February 2017
Disclaimer:

MYRX HansonInternationalTbk.[S]
80 | 12.0T | 0.21% | 82.09%
6 | 54.5T | 2.93% | 36.36%

Established Date : 07-Jul-1971 1. PT ASABRI (Persero) 8,712,208,500 : 11.07%
Listing Date : 31-Oct-1990 2. Benny Tjokrosaputro 8,086,507,917 : 10.27%
PT Aseam Indonesia
PT PDFCI Securities DIVIDEND ANNOUNCEMENT
PT Sinar Mas Bonus Cash Recording Payment
F/I
PT Ficomindo Buana Registrar 1989 118.00 16-Jan-91 17-Jan-91 24-Jan-91 25-Feb-91 F
Mayapada Tower 10th Fl. Suite 02 B, Jln. Jend. Sudirman Kav. 28, 1990 50.00 16-Jan-91 17-Jan-91 24-Jan-91 25-Feb-91 I
Karet - Setiabudi, Jakarta 12920 1990 10 : 1 21-Jun-91 24-Jun-91 01-Jul-91 22-Jul-91 SD
Phone : (021) 521-2316, 2317 1991 1:1 200.00 18-May-92 19-May-92 26-May-92 26-Jun-92 F
Fax : (021) 521-2320 1992 50.00 28-Apr-93 29-Apr-93 10-May-93 10-Jun-93 F
1995 10.00 23-Jul-96 24-Jul-96 01-Aug-96 30-Aug-96 F
BOARD OF COMMISSIONERS 1996 20.00 26-May-97 27-May-97 04-Jun-97 03-Jul-97 F
1. I Nyoman Tjager 1997 4:9 13-Nov-98 16-Nov-98 25-Nov-98 21-Dec-98 BS
2. Venkatama Ramana Tata *)
3. Monang Situmeang Sh. ISSUED HISTORY
BOARD OF DIRECTORS 1. First Issue 1,000,000 31-Oct-90 31-Oct-90
1. Benny Tjokrosaputro 2. Partial Listing 1,450,000 31-Oct-90 07-Nov-90
2. Adnan Tabrani 3. Bonus Shares 700,000 21-Feb-92 21-Feb-92
3. George Ignasius Ratulangi 4. Company Listing 4,550,000 18-Jun-92 18-Jun-92
4. R.Agus Santosa 5. Bonus Shares 7,700,000 14-Aug-92 14-Aug-92
5. Rony Agung Suseno 6. Right Issue 92,400,000 29-Dec-97 29-Dec-97
7. Stock Split 107,800,000 02-Nov-98 02-Nov-98
AUDIT COMMITTEE 8. Bonus Shares 485,100,000 11-Jan-99 11-Jan-99
1. Venkata Ramana Tata 9. Additional Listing 4,513,705,164 11-Dec-02 11-Dec-02
2. Ibrahim Hasybi 10. Additional Listing without RI 633,540,016 13-Dec-12 13-Dec-12
11. Right Issues 8,362,728,216 02-Jan-14 02-Jan-14
CORPORATE SECRETARY 12. Additional Listing without RI 500,000,000 16-Dec-15 16-Dec-15
Rony Agung Suseno 13. Additional Listing without RI 143,614,500 30-Dec-15 30-Dec-15
14. Additional Listing without RI 889,552,339 06-Jan-16 06-Jan-16
HEAD OFFICE 15. Stock Split Seri A 2,802,800,000 15-Aug-16 15-Aug-16
Mayapada Tower 21st Fl. 16. Stock Split Seri B 60,172,560,940 15-Aug-16 15-Aug-16
Jln. Jend. Sudirman Kav. 28
Jakarta
Phone : (021) 521-3555
Fax : (021) 521-4555
Homepage : www.hanson.co.id
Email : rony@hanson.co.id

TRADING ACTIVITIES
Hanson International Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
200 5,600 Jan-13 320 260 315 87,950 1,803,276 483,087 21
Feb-13 440 315 440 114,729 2,942,086 1,071,247 20
175 4,900 Mar-13 510 410 510 38,068 1,968,622 835,915 19
Apr-13 510 450 490 30,119 1,858,711 874,265 22
May-13 630 470 630 29,777 2,058,740 1,058,741 22
150 4,200
Jun-13 740 610 740 32,980 2,247,657 1,427,005 19
Jul-13 740 610 630 30,767 1,833,184 1,194,730 23
125 3,500
Aug-13 640 550 580 17,268 1,302,136 774,395 17
Sep-13 670 550 560 25,322 2,073,031 1,212,263 21
100 2,800
Oct-13 600 520 530 19,065 1,771,312 982,315 21
Nov-13 540 500 500 15,384 1,328,809 704,556 20
75 2,100 Dec-13 590 495 570 14,342 1,838,843 938,820 19
50 1,400 Jan-14 615 520 595 30,182 1,513,524 829,800 20

Feb-14 605 565 600 33,198 1,709,521 968,617 20
25 700 Mar-14 680 575 670 35,590 1,902,399 1,121,541 20
Apr-14 670 590 620 36,945 2,413,894 1,409,251 20
May-14 670 600 625 26,991 1,385,837 849,269 18
Jun-14 665 605 605 126,341 2,157,050 1,307,572 21
Jul-14 635 575 625 102,581 3,118,104 1,824,044 18
Aug-14 680 600 665 92,688 2,244,923 1,298,751 20
Sep-14 695 590 620 88,381 3,486,173 2,151,596 22
Closing Price*, Jakarta Composite Index (IHSG) and Oct-14 635 600 620 73,817 2,536,871 1,545,151 23
Property, Real Estate and Bulding Construction Index Nov-14 710 615 690 67,495 3,091,209 1,796,035 20
245%
Jan-15 720 650 710 38,282 1,701,983 1,066,302 21
210% Feb-15 775 695 755 89,953 1,505,853 1,060,692 19
Mar-15 785 735 755 76,400 1,888,313 1,392,377 22
175% Apr-15 755 705 710 55,146 1,356,293 981,428 21
171.4%
May-15 780 705 780 66,636 1,730,755 1,247,310 19
140% Jun-15 770 469 740 82,737 2,666,721 1,796,143 21
Jul-15 745 700 715 45,087 1,231,383 877,347 19
Aug-15 720 625 720 52,202 2,204,681 1,513,002 20
105%
Sep-15 730 670 695 58,029 2,938,886 2,019,706 21
Oct-15 710 660 675 59,702 4,373,759 2,960,989 21
70%
59.7% Nov-15 695 635 655 68,064 5,149,621 3,398,221 21
Dec-15 685 595 635 18,682 6,833,162 4,280,684 19
35%
21.8%
Jan-16 700 600 670 23,562 4,758,101 2,934,954 20
- Feb-16 920 650 855 29,817 3,494,048 2,574,432 20
Mar-16 850 780 805 28,042 3,689,544 2,877,165 21
-35% Apr-16 835 780 810 40,405 4,617,569 3,607,729 21
Jun-16 835 745 785 43,783 5,584,822 4,320,872 22
Jul-16 805 755 775 26,477 3,872,905 2,919,991 16
Days 244 242 244 246 21 Dec-16 192 155 169 65,349 40,856,479 6,910,818 20
Price (Rupiah) Jan-17 175 151 152 66,010 45,790,343 6,952,301 21

High 740 710 785 920 175
Low 260 520 469 130 151
Close 570 695 635 169 152
Close* 114 139 127 169 152
PER (X) 313.21 -2,376.29 475.77 65.08 58.53

PER Industry (X) 15.42 22.13 14.53 24.89 28.26
PBV (X) 0.68 2.03 1.49 2.18 1.96

Receivables 48,982 18,446 56,270 131,568 172,224

7,000
Inventories 86,229 4,037 773 471,368 574,147

5,250
Investment 3 - 554,878 652,973 1,037,505
Fixed Assets 279,138 272,367 269,168 2,021 3,308
3,500
Other Assets 24,289 23,089 22,489 929 -
Total Assets 1,058,983 5,335,863 5,414,788 8,298,895 8,343,675 1,750
Growth (%) 403.87% 1.48% 53.26% 0.54%
-
Trade Payable 711 823 - - 7,684 2012 2013 2014 2015 Sep-16
Total Liabilities 890,844 454,786 552,854 1,977,051 2,247,608
Growth (%) -48.95% 21.56% 257.61% 13.68%
6,096
Paid up Capital 846,858 1,836,450 1,836,340 1,976,571 2,005,095 4,881 4,862

5,032
Par Value 500 & 110 500 & 110 500 & 110 500 & 110 100 & 22
-1,161,531 -1,150,889 -1,154,006 -1,127,590 -977,255
3,743
Retained Earnings
Total Equity 168,139 4,881,077 4,861,934 6,321,844 6,096,068 2,453
Growth (%) 2,803.01% -0.39% 30.03% -3.57%

1,163
168
Total Revenues 117,924 170,002 135,409 81,858 740,024
-126
2012 2013 2014 2015 Sep-16

Growth (%) 44.16% -20.35% -39.55%
Cost of Revenues 37,270 140,205 73,589 52,440 316,385

Gross Profit 80,654 29,796 61,820 29,417 423,639
Operating Expenses 59,913 -56,502 24,501 54,978 81,846 740
20,741 86,298 37,319 -25,560 341,793

740
Operating Profit
Growth (%) 316.07% -56.76% N/A 589
Other Income (Expenses) -33,927 -73,193 -35,571 -26,161 -154,515 438
Income before Tax -13,186 13,105 1,748 -55,814 150,277

Tax 8,726 12,861 377 40 -58
287
170
Profit for the period -21,912 245 1,371 14,494 150,335 118 135
82
Growth (%) N/A 460.18% 957.54%
136
-15
Period Attributable -30,335 10,642 3,117 19,826 153,317 2012 2013 2014 2015 Sep-16
Comprehensive Income 97,653 -119,320 1,371 14,481 150,172
Comprehensive Attributable 89,229 -108,922 -3,117 19,813 153,154
RATIOS Dec-12 Dec-13 Dec-14 Dec-15 Sep-16 150
Dividend (Rp) - - - - - 150
EPS (Rp) -4.20 0.02 0.10 0.95 1.91

BV (Rp) 32.25 343.48 342.13 412.34 77.44 116
DAR (X) 0.84 0.09 0.10 0.24 0.27

DER(X) 5.30 0.09 0.11 0.31 0.37
81
ROA (%) -2.07 0.00 0.03 0.17 1.80 47
ROE (%) -13.03 0.01 0.03 0.23 2.47 14

GPM (%) 68.39 17.53 45.65 35.94 57.25 13 2012 0.2 1.4
OPM (%) 17.59 50.76 27.56 -31.23 46.19

2013 2014 2015 Sep-16
NPM (%) -18.58 0.14 1.01 17.71 20.31
-22
-22
Payout Ratio (%) - - - - -
Yield (%) - - - - -

COMPANY REPORT
PGAS
PERUSAHAAN GAS NEGARA
(PERSERO) TBK.
Company Profile
PTPerusahaanGasNegara(Persero)Tbk.wasestablishedin1859.OnMay13th,1965,theCompany
wasstatedasstateownedenterpriseandknownasPerusahaanNegaraGas(PN.Gas).

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

The Companys purposes are to implement and support the Governments economic and national
developmentprograms,particularlyindevelopingusesofnaturalgasforthebenefitofthepublicas
well as in the supply of a sufficient volume and quality of gas for public consumption. To achieve
these objectives, the Company carries out planning, construction, operating and development of
natural gas downstream business which includes processing, transporting, storing and trading,
planning, construction, production development, supplying and distribution of processed gas; or
other businesses which support the foregoing activities in accordance with prevailing laws and
regulations. Currently, the Companys principal business was the distribution and transmission of
naturalgastoindustrial,commercialandhouseholdusers.

To achieve responsive sales target, the Company has divided its business areas into three Regional
Distribution(RD)andoneRegionalTransmission(RT),asfollows:
1. RegionalDistributionI,coversWesternJavaRegionuntilSouthSumatera,
2. RegionalDistributionII,coversEasternJavaRegion,
3. RegionalDistributionIII,coversNorthernSumateraRegionandtheRiauIslands,
4. RegionalTransmissioncoversSumateraJavaRegion.

TheCompanycommencedtheconstructionofSouthSumateraWestJavagastransmissionIandII
willexpectedopereatingmaximumcapacityof460mmscfdand520mmscfd(unaudited).

The company has ownership in subsidiaries: PT Saka Energi Indonesia, PT PGN LNG Indonesia, PT
Permata Graha Nusantara, PT PGAS Solution, PT Gagas Energi Indonesia, PT PGAS Telekomunikasi
Nusantara.AsofDecember31st,2016,theCompanyandSubsidiarieshadatotalof2,242employees.

February 2017
Disclaimer:
otherwise responsible in anyway for any advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publicat

PGAS PerusahaanGasNegara(Persero)Tbk.[S]
Industry Sub Sector : Energy (71) Market Capitalization : 69,815,543,604,480
13 | 69.8T | 1.21% | 51.01%
9 | 36.5T | 1.96% | 42.57%

Established Date : 01-Feb-1905 1. Negara Republik Indonesia 13,809,038,756 : 56.96%
Under Writer IPO :
PT ABN AMRO Asia Securities Indonesia Bonus Cash Recording Payment
F/I
Wisma Sudirman - Puri Datindo 2004 1.71 23-Dec-04 27-Dec-04 29-Dec-04 30-Dec-04 I
Phone : (021) 570-9009 2005 104.43 30-Jun-06 03-Jul-06 05-Jul-06 14-Jul-06 F
2008 41.74 15-Jul-09 16-Jul-09 21-Jul-09 04-Aug-09 F
BOARD OF COMMISSIONERS 2009 10.00 08-Dec-09 09-Dec-09 11-Dec-09 23-Dec-09 I
1. Fajar Harry Sampurno 2009 144.20 08-Jul-10 09-Jul-10 13-Jul-10 27-Jul-10 F
2. Kiswodarmawan *) 2010 10.20 27-Dec-10 28-Dec-10 30-Dec-10 04-Jan-11 I
3. Paiman Rahardjo *) 2010 144.24 19-Jul-11 20-Jul-11 22-Jul-11 04-Aug-11 F
4. Ign Wiratmaja Puja 2011 10.87 30-Nov-11 01-Dec-11 05-Dec-11 16-Dec-11 I
5. Mohamad Ikhsan 2011 123.75 12-Jun-12 13-Jun-12 15-Jun-12 29-Jun-12 F
6. Tirta Hidayat 2012 202.77 10-May-13 13-May-13 15-May-13 29-May-13 F
*) Independent Commissioners 2013 210.40 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F

1. Hendi Prio Santoso Listing Trading
2. Danny Praditya No. Type of Listing Shares Date Date
3. Dilo Seno Widagdo 1. First Issue 1,296,296,000 15-Dec-03 15-Dec-03
4. Hendi Kusnadi 2. Company Listing 3,024,691,000 T: 15-Dec-03 : 15-Jun-04
5. Muhammad Wahid Sutopo 3. MSOP Conversion 215,637,305 T: 13-Dec-04 : 28-Dec-06
6. Nusantara Suyono 4. MSOP Conversion II 3,261,500 T: 10-Nov-06 : 16-Feb-07
5. ESOP Conversion 53,551,388 T: 18-Jan-08 : 19-Feb-08
AUDIT COMMITTEE 6. Stock Split 18,373,748,772 04-Aug-08 04-Aug-08
1. Paiman Rahardjo 7. Government Project Fund Conversion 1,274,322,231 T: 16-Apr-09 : 16-Oct-09
2. Kurnia Sari Dewi
3. Luki Karunia
4. Tirta Hidayat
5. Yovita Lasti Handini
CORPORATE SECRETARY
Heri Yusup
HEAD OFFICE
Jln. K.H. Zainul Arifin No. 20
Jakarta - 11140
Phone : (021) 633-4838
Fax : (021) 633-1632
Homepage : www.pgn.co.id
Email : heri.yusup@pgn.co.id

TRADING ACTIVITIES
Perusahaan Gas Negara (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
6,400 400 Jan-13 4,725 4,450 4,675 33,296 535,744 2,462,840 21
Feb-13 4,875 4,575 4,800 27,481 517,665 2,446,564 20
5,600 350 Mar-13 6,100 4,850 5,950 37,631 684,572 3,657,960 19
Apr-13 6,350 5,550 6,250 29,703 573,930 3,376,638 22
May-13 6,450 5,500 5,500 39,143 655,792 4,013,862 22
4,800 300
Jun-13 5,800 4,600 5,750 59,111 873,388 4,642,986 19
Jul-13 6,050 5,350 5,900 50,191 572,520 3,265,952 23
4,000 250
Aug-13 6,000 4,875 5,400 38,726 416,560 2,206,294 17
Sep-13 5,600 4,975 5,200 48,396 718,169 3,806,937 21
3,200 200
Oct-13 5,500 4,975 5,100 50,291 579,000 3,018,710 21
Nov-13 5,100 4,450 4,850 53,784 531,321 2,588,151 20
2,400 150 Dec-13 4,950 4,375 4,475 37,139 414,903 1,956,824 19
1,600 100 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
800 50 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
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
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
Infrastructure, Utilities and Transportation Index Nov-14 6,225 5,825 5,950 44,381 382,941 2,307,438 20
60%
Jan-15 6,050 4,995 5,050 92,906 887,651 4,816,967 21
45% Feb-15 5,500 5,050 5,200 66,654 624,549 3,312,449 19
Mar-15 5,400 4,600 4,800 96,871 782,389 3,975,099 22
30% 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
21.8%
15% 16.3% 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
Oct-15 3,160 2,535 3,000 125,908 1,030,877 3,030,555 21
-15%
Nov-15 3,080 2,560 2,655 94,906 782,374 2,261,286 21
Dec-15 2,915 2,305 2,745 96,859 569,389 1,521,635 19
-30%
-37.4% Jan-16 2,770 2,350 2,405 96,049 607,085 1,517,643 20
-45% 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
-60% Apr-16 2,860 2,555 2,620 115,718 1,454,665 3,904,125 21
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
Volume (Million Sh.) 7,074 5,365 9,592 13,420 506 Sep-16 3,000 2,630 2,870 104,517 1,443,381 4,059,641 21
Value (Billion Rp) 37,444 29,084 36,449 36,582 1,404 Oct-16 2,940 2,440 2,560 95,368 1,380,816 3,649,852 21
Frequency (Thou. X) 505 712 1,230 1,153 62 Nov-16 2,690 2,200 2,650 81,469 661,513 1,637,985 22
Days 244 242 244 246 21 Dec-16 2,940 2,460 2,700 62,582 785,642 2,142,389 20
Price (Rupiah) Jan-17 2,900 2,580 2,880 62,106 505,603 1,403,585 21

High 6,450 6,225 6,050 3,520 2,900
Low 4,375 4,120 2,150 2,170 2,580
Close 4,475 6,000 2,745 2,700 2,880
Close* 4,475 6,000 2,745 2,700 2,880
PER (X) 10.27 15.09 12.02 15.61 16.65

PER Industry (X) 12.11 20.04 9.49 8.16 9.33
PBV (X) 3.24 4.24 1.60 1.62 1.73

Receivables 2,550,177 3,875,102 5,125,490 5,675,984 7,459,754

23,644 179,329 812,909 636,891 877,280 80,000
Inventories
Current Assets 19,183,520 21,847,077 23,141,099 25,247,134 28,547,123
60,000
Fixed Assets 16,378,657 22,542,829 30,904,599 28,269,719 24,569,486
Other Assets 21,425 50,620 97,582 85,452 67,748
40,000
Total Assets 37,791,930 53,536,157 77,295,913 95,197,541 91,823,679
Growth (%) 41.66% 44.38% 23.16% -3.54% 20,000

Growth (%) 33.63% 101.50% 25.82% -3.27%
42,595
Paid up Capital 2,424,151 2,424,151 2,424,151 2,424,151 2,424,151 44,305
24,242 24,242 24,242 24,242 24,242 36,849

33,463
Par Value 100 100 100 100 100
35,267

22,771
22,770,838 33,463,069 36,848,736 44,305,239 42,594,718
26,229
Total Equity
Growth (%) 46.96% 10.12% 20.24% -3.86% 17,190
Total Revenues 24,914,688 36,828,609 42,389,226 44,979,267 39,431,687

Growth (%) 47.82% 15.10% 6.11% -12.33%
-886
2012 2013 2014 2015 2016
Cost of Revenues 10,676,664 19,429,817 24,172,867 30,862,955 27,514,762

Gross Profit 14,238,024 17,398,792 18,216,359 14,116,312 11,916,925
Expenses (Income) 4,389,290 5,942,474 6,003,474 5,827,914 5,948,087
42,389
Growth (%) 16.32% 6.60% -32.13% -27.99% 39,432
44,979
36,829
35,803
Other Income (Expenses) 1,255,405 2,348,434 -40,958 -1,793,392 -796,178

24,915
Tax 2,253,611 2,836,789 2,873,884 591,768 1,026,527

Growth (%) 23.92% -15.23% -36.51% -29.77%

8,276
Current Ratio (%) 419.63 201.01 170.62 258.13 260.58
10,968
Dividend (Rp) 202.77 210.40 - - - 10,968
9,298
EPS (Rp) 355.38 435.56 370.78 242.58 168.67 8,851
BV (Rp) 939.33 1,380.40 1,520.07 1,827.66 1,757.10 8,730
DAR (X) 0.40 0.37 0.52 0.53 0.54 5,903

DER(X) 0.66 0.60 1.10 1.15 1.16
6,493
4,146
ROA (%) 23.42 20.49 12.03 6.20 4.52 4,256
ROE (%) 38.87 32.78 25.23 13.32 9.73

GPM (%) 57.15 47.24 42.97 31.38 30.22 2,018
OPM (%) 39.53 31.11 28.81 18.43 15.14

NPM (%) 35.52 29.78 21.93 13.12 10.51
-219
2012 2013 2014 2015 2016

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

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
PPRO
PP PROPERTI TBK.
Company Profile
PTPPPropertiTbkwasestablishedonDecember18th,2013.

TheobjectivesandgoalsoftheCompanyaredealinginservices,trading'sandconstructions,which
includesthefollowingactivities:
1. Hotel management services covering all aspects of planning, development, marketing,
operationsandmaintenanceofthehotel,bothsoftwareandhardware.
2. Servicesinplanningandsupervisionofconstructionandpropertyrelatedbusinessactivities.
3. Leasing and property management services, including management of leasing and
maintenance, maintenance and supplies of other supporting facilities, of, but not limited to,
housings,offices,apartments,condos,flatsandotherrelatedbusinessactivities.
4. Consulting services business field operations management and maintenance of real estate
propertiesandtheirareaofphysicalinfrastructureregional
5. Conductingbusinessinthefieldofpropertydevelopment,includingbutnotlimitedtotheareas
of housing, hotels, apartments, offices, industrial areas, tourism, management of sports
facilitiesandotherpropertyproducts.
6. Realty, including but not limited to the provision of landsites ready for development,
procurementofhousing,andmanagementofresidentialareas.
7. BuildingManagement
8. Traderelatedtorealestate,namelysaleandpurchaseofemptyorreadyforconstructionland
areas, sale and purchase of buildings, houses, office buildings, shopping buildings ,units of
apartment,condominiums,officespaces,shoppingareas,supermarketsandmalls.

Thetotalnumberofemployees442employeesatDecember31st,2016.

February 2017
Disclaimer:

PPRO PPPropertiTbk.[S]
59 | 17.8T | 0.31% | 76.67%
21 | 19.8T | 1.07% | 57.71%

Established Date : 12-Dec-2013 1. PT PP Persero Tbk. 9,122,927,940 : 64.96%
Listing Date : 19-May-2015 2. Asuransi Jiwasraya 1,085,559,400 : 7.73%
PT CLSA Indonesia
F/I
PT Mandiri Sekuritas Year Shares Dividend Cum Date Ex Date Date Date
PT CIMB Securities Indonesia 2015 4.27 27-Apr-16 28-Apr-16 02-May-16 20-May-16 F
Securities Administration Bureau :
PT BSR Indonesia ISSUED HISTORY
Komplek Perkantoran ITC Roxy Mas Blok E1 No. 10-11 Listing Trading
Jln. K.H. Hasyim Ashari Jakarta 10150 No. Type of Listing Shares Date Date
Phone : (021) 631-7828 1. First Issue 4,912,346,000 19-May-15 19-May-15
Fax : (021) 631-7827 2. Company Listing 9,132,060,000 19-May-15 19-May-15
BOARD OF COMMISSIONERS
1. Betty Ariana
2. Mohammad Farela *)
BOARD OF DIRECTORS
1. Taufik Hidayat
2. Galih Saksono
3. Giyoko Surahmat
4. Indaryanto
5. Sinurlinda Gustina M
AUDIT COMMITTEE
1. Mohammad Farela
2. Aryo Wibisono
3. Herry Subiyono
CORPORATE SECRETARY
Indaryanto
HEAD OFFICE
Plaza PP - Wisma Subiyanto, 2nd Fl.
Jln. Letjend. TB. Simatupang No. 57
Pasar Rebo, Jakarta 13760
Phone : (021) 8779-2734
Fax : (021) 841-5606
Homepage : www.pp-properti.com
Email : investor.relations@pp-properti.com

TRADING ACTIVITIES
PP Properti Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
Price* May 2015 - January 2017 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
1,600 2,400 May-15 250 193 194 63,574 4,545,009 908,518 9
Jun-15 198 151 187 37,224 1,793,892 328,470 21
1,400 2,100 Jul-15 195 178 181 16,315 731,268 137,014 19
Aug-15 184 135 147 20,022 931,865 147,882 20
Sep-15 153 127 127 17,126 767,189 112,354 21
1,200 1,800
Oct-15 171 127 163 38,507 2,155,686 340,186 21
Nov-15 210 150 188 56,009 4,301,928 800,763 21
1,000 1,500
Dec-15 192 165 178 22,773 1,470,938 268,028 19
800 1,200
Jan-16 193 173 185 30,977 1,538,488 285,756 20
Feb-16 210 181 196 35,793 2,202,315 425,738 20
600 900 Mar-16 237 196 220 35,108 2,321,386 474,641 21
Apr-16 328 218 303 73,814 5,456,919 1,568,438 21
400 600 May-16 390 280 376 61,664 2,716,746 906,531 20
Jun-16 535 374 505 65,467 2,560,413 1,126,635 22
200 300 Jul-16 630 500 615 34,404 1,530,987 833,742 16
Aug-16 860 615 770 61,694 2,601,588 1,949,825 22
Sep-16 1,385 755 1,330 97,418 3,473,350 3,514,761 21
Oct-16 1,490 1,185 1,355 79,556 2,587,794 3,151,114 21
May-15 Nov-15 May-16 Nov-16
Nov-16 1,450 1,110 1,445 47,841 1,568,010 2,052,087 22
Dec-16 1,445 1,160 1,360 28,546 2,753,161 3,293,074 20
Closing Price*, Jakarta Composite Index (IHSG) and Jan-17 1,360 1,200 1,270 19,290 405,458 527,108 21
Property, Real Estate and Bulding Construction Index
May 2015 - January 2017
630%
540%
510.6%
450%
360%
270%
180%
90%
- 0.5%
-6.0%
-90%
May 15 Nov 15 May 16 Nov 16
SHARES TRADED 2015 2016 Jan-17

Volume (Million Sh.) 16,698 31,311 405
Value (Billion Rp) 3,043 19,582 527
Frequency (Thou. X) 272 652 19
Days 151 246 21
Price (Rupiah)
High 250 1,490 1,360
Low 127 173 1,200
Close 178 1,360 1,270
Close* 178 1,360 1,270
PER (X) 8.32 54.99 51.35

PER Industry (X) 13.36 24.89 28.26
PBV (X) 0.99 6.92 6.47

Financial Data and Ratios Book End :
Public Accountant : Soejatna, Mulyana & Rekan
Cash & Cash Equivalents 357,422 624,472 10,000
Receivables 1,199,500 2,810,291

8,000
Inventories 1,498,070 1,606,415

6,000
Investment 208,875 312,974
Fixed Assets 1,674,282 1,997,713
4,000
Other Assets - -
Total Assets 5,318,957 8,826,284 2,000
Growth (%) 65.94%
-
Trade Payable 658,506 1,526,642 2015 2016
Total Liabilities 2,801,370 5,858,373
Growth (%) 109.13%
Minority Interest - - 2,968
Authorized Capital 3,652,824 3,652,824 2,968
2,518
Paid up Capital 3,652,824 1,404,441
Paid up Capital (Shares) 36,528 14,044
2,362
Par Value 100 100

2,515,879 1,059,082
1,757
Retained Earnings
Total Equity 2,517,587 2,967,911 1,152
Growth (%) 17.89%

546

Total Revenues 1,505,172 2,150,061
-59
2015 2016
Growth (%) 42.84%
Cost of Revenues 1,057,350 1,564,157

Gross Profit 447,823 585,904
Operating Expenses 62,323 78,631 2,150
385,500 507,273
2,150
Operating Profit
Growth (%) 31.59% 1,711
1,505
Other Income (Expenses) -13,848 -136,634 1,273
Income before Tax 372,738 368,223

Tax 72,409 2,848
834
Profit for the period 300,329 365,374

Growth (%) 21.66%
396
-43
Period Attributable 300,325 365,383 2015 2016

Comprehensive Income 656,307 365,358
Comprehensive Attributable 635,658 365,366
RATIOS Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 365
Dividend (Rp) 4.27 1.30 365
EPS (Rp) 8.22 26.02 300
BV (Rp) 68.92 211.32 291
DAR (X) 0.53 0.66

DER(X) 1.11 1.97
216
ROA (%) 5.65 4.14 142
ROE (%) 11.93 12.31

GPM (%) 29.75 27.25 67
OPM (%) 25.61 23.59

NPM (%) 19.95 16.99
-7
2015 2016
Payout Ratio (%) 51.94 5.00
Yield (%) 0.31 0.10

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

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

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

Thecompanyhasdirectownershipinsubsidiaries:
PTBatubaraBukitKendi,
PTBukitAsamPrima,
PTInternationalPrimaCoal,
PTBukitAsamMetanaOmbilin,
PTBukitAsamMetanaEnim,
PTBukitAsamMetanaPeranap,
PTBukitAsamBanko,
PTBukitMultiInvestama,
PTBukitEnergiInvestama.

TheCompanyhasanownershipinterestinthefollowingjointventureentities:
PT Bukit Pembangkit Innovative, Tanjung Enim Sumatera Selatan, Independent
power,
PTBukitAsamTranspacificRailway,Jakarta,Coaltransportationservices,
PTHuadianBukitAsamPower,TanjungEnim,SumateraSelatan,Independent
powerproducer.

AsofDecember31st,2016,theCompanyhadatotalof2,586permanentemployees.
February 2017
Disclaimer:

PTBA Tambang Batubara Bukit Asam (Persero) Tbk. [S]
35 | 26.7T | 0.46% | 67.42%
39 | 10.5T | 0.56% | 71.01%

Listing Date : 23-Dec-2002 2. PT Tambang Batu Bara Bukit Asam (Persero) Tbk. 196,056,700 : 8.51%
Under Writer IPO : 3. Public (<5%) 609,987,650 : 26.47%
PT Danareksa Sekuritas
PT Datindo Entrycom Bonus Cash Recording Payment
F/I
Wisma Sudirman - Puri Datindo Year Shares Dividend Cum Date Ex Date Date Date
Fax : (021) 570-9026 2004 5.80 22-Dec-04 23-Dec-04 28-Dec-04 29-Dec-04 I
2005 87.48 05-Jul-05 06-Jul-05 08-Jul-05 22-Jul-05
1. Agus Suhartono 2006 105.39 29-May-07 30-May-07 04-Jun-07 15-Jun-07 I
2. Robert Heri 2007 164.97 18-Jun-08 19-Jun-08 23-Jun-08 07-Jul-08 F
3. Purnomo Sinar Hadi 2009 66.75 25-Nov-09 26-Nov-09 01-Dec-09 15-Dec-09 I
4. S Kusnaryo 2009 466.65 26-May-10 27-May-10 01-Jun-10 15-Jun-10 F
5. Muhammad Saidu Didu 2010 66.75 20-Dec-10 21-Dec-10 23-Dec-10 29-Dec-10 I
6. Leonard 2010 456.37 04-Jul-11 05-Jul-11 07-Jul-11 21-Jul-11 F
*) Independent Commissioners 2011 103.46 28-Nov-11 29-Nov-11 01-Dec-11 15-Dec-11 I
2011 700.48 29-May-12 30-May-12 01-Jun-12 15-Jun-12 F
BOARD OF DIRECTORS 2012 720.75 20-May-13 21-May-13 23-May-13 07-Jun-13 F
1. Arviyan Arifin 2013 461.97 28-Apr-14 29-Apr-14 02-May-14 16-May-14 F
2. Achmad Sudarto 2014 324.57 07-Apr-15 08-Apr-15 10-Apr-15 30-Apr-15 I
3. Anung Dri Prasetya 2015 289.73 21-Apr-16 22-Apr-16 26-Apr-16 18-May-16 F
4. Arie Prabowo Ariotedjo
5. Joko Pramono ISSUED HISTORY
6. Suryo Eko Hadianto Listing Trading
AUDIT COMMITTEE 1. First Issue 346,500,000 23-Dec-02 23-Dec-02
1. S. Koenaryo 2. Company Listing 1,785,000,000 23-Dec-02 23-Dec-02
2. Barlian Dwinagara 3. Warrant 172,631,850 T: 14-Dec-04 : 28-Dec-05
3. Ai Supardini
CORPORATE SECRETARY
Adib Ubaidillah
HEAD OFFICE
Menara Kadin Indonesia 15th Fl. & 9th Fl.
Jln. H.R. Rasuna Said X-5, Kav. 2 & 3
Jakarta 12950
Phone : (021) 525-4014
Fax : (021) 525-4002
Homepage : www.ptba.com
Email : aubaidillah@bukitasam.co.id

TRADING ACTIVITIES
Tambang Batubara Bukit Asam (Persero) Closing Price Freq. Volume Value
Day
Closing Volume
18,000 72.0 Jan-13 17,000 15,250 15,500 18,751 48,043 775,403 21
Feb-13 15,800 14,700 15,100 15,553 36,334 556,775 20
15,750 63.0 Mar-13 15,550 13,500 14,400 15,521 51,161 758,208 19
Apr-13 15,500 14,550 15,250 13,609 73,416 1,119,626 22
May-13 15,650 12,100 12,200 20,997 103,759 1,496,445 22
13,500 54.0
Jun-13 13,350 11,200 13,300 28,007 64,863 795,670 19
Jul-13 13,700 9,700 9,950 18,764 40,845 481,465 23
11,250 45.0
Aug-13 12,650 9,900 12,100 16,624 45,370 515,876 17
Sep-13 14,150 12,000 12,750 14,849 40,865 540,723 21
9,000 36.0
Oct-13 14,100 12,100 12,150 12,379 25,773 335,993 21
Nov-13 12,750 11,500 12,000 24,137 70,921 852,812 20
6,750 27.0 Dec-13 12,100 10,150 10,200 14,770 52,142 590,411 19
4,500 18.0 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
2,250 9.0 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
Jun-14 11,550 10,250 10,725 33,290 72,603 794,402 21
Jul-14 11,700 10,350 11,650 27,074 46,806 522,367 18
Aug-14 13,900 11,450 13,350 44,905 84,949 1,111,304 20
Sep-14 14,150 12,600 13,200 42,360 51,496 687,303 22
Mining Index Nov-14 13,575 11,875 13,150 24,797 40,529 519,174 20
45%
Jan-15 12,525 10,100 11,375 41,254 60,844 690,666 21
30% Feb-15 11,725 10,350 10,675 36,099 55,708 616,697 19
21.8% Mar-15 11,250 10,150 10,750 36,562 57,946 619,774 22
15% 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
-15%
Sep-15 6,275 5,350 5,625 25,247 47,937 291,890 21
-28.4% Oct-15 7,550 5,500 7,300 53,867 112,986 784,874 21
-30% -29.9% Nov-15 7,825 5,600 5,600 60,412 204,268 1,249,230 21
Dec-15 5,800 4,305 4,525 76,121 143,545 708,778 19
-45%
Jan-16 4,610 4,150 4,450 44,672 60,404 267,843 20

-60% 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
Jun-16 8,300 6,425 7,700 49,476 114,910 891,749 22
Jul-16 10,375 7,650 9,850 39,970 80,512 761,313 16
Volume (Million Sh.) 653 830 946 1,198 47 Sep-16 10,450 9,075 9,625 33,524 79,943 803,546 21
Days 244 242 244 246 21 Dec-16 13,625 11,725 12,500 38,603 67,509 853,687 20
Price (Rupiah) Jan-17 12,825 10,675 11,600 30,453 47,180 552,513 21

High 17,000 14,150 12,525 13,775 12,825
Low 9,700 8,975 4,305 4,150 10,675
Close 10,200 12,500 4,525 12,500 11,600
Close* 10,200 12,500 4,525 12,500 11,600
PER (X) 12.87 13.65 5.12 20.54 19.06

PER Industry (X) 20.76 3.23 0.60 -4.41 -2.64
PBV (X) 3.11 3.53 1.12 3.00 2.79

Receivables 1,545,556 1,427,572 1,439,401 1,595,580 2,285,065

765,964 901,952 1,033,360 1,233,175 1,102,290 15,000
Inventories
Current Assets 8,718,297 6,479,783 7,416,805 7,598,476 8,349,927
11,250
Fixed Assets 1,853,447 2,803,393 3,987,565 5,579,117 6,087,746
Other Assets 97,886 119,746 119,719 102,318 154,010
7,500
Total Assets 12,728,981 11,677,155 14,812,023 16,894,043 18,576,774
Growth (%) -8.26% 26.85% 14.06% 9.96% 3,750

Growth (%) -2.33% 48.86% 23.86% 5.49%
Paid up Capital 1,152,066 1,152,066 1,152,066 1,152,066 1,152,066 9,288
500 500 500 500 500 7,552

Par Value
8,400

6,247
Total Equity 8,505,169 7,551,569 8,670,842 9,287,547 10,552,405

Growth (%) -11.21% 14.82% 7.11% 13.62% 4,094
Total Revenues 11,594,057 11,209,219 13,077,962 13,733,627 14,058,869

Growth (%) -3.32% 16.67% 5.01% 2.37%
-211
2012 2013 2014 2015 2016
Cost of Revenues 6,505,932 7,745,646 9,056,219 9,593,903 9,657,400

Gross Profit 5,088,125 3,463,573 4,021,743 4,139,724 4,401,469
Expenses (Income) 1,494,615 1,310,735 1,711,545 1,725,384 1,870,662
13,078
-40.09% 7.31% 4.51% 4.82%
14,059
Growth (%) 11,594 11,209

11,191

Tax 1,002,166 607,081 655,512 626,685 672,511

5,455
Growth (%) -36.27% 8.89% 0.89% -0.62%

2,587
Current Ratio (%) 492.37 286.59 207.51 154.35 165.58
2,909
Dividend (Rp) 720.75 461.97 324.57 289.73 - 2,909
EPS (Rp) 1,258.66 792.55 875.02 883.59 870.69

BV (Rp) 3,691.27 3,277.40 3,763.17 4,030.82 4,579.77 2,316
2,019 2,037 2,024

1,854
DAR (X) 0.33 0.35 0.41 0.45 0.43
0.50 0.55 0.71 0.82 0.76
1,722
DER(X)
ROA (%) 22.86 15.88 13.63 12.06 10.90 1,129
ROE (%) 34.21 24.55 23.29 21.93 19.18

GPM (%) 43.89 30.90 30.75 30.14 31.31 535
OPM (%) 30.99 19.21 17.66 17.58 18.00

NPM (%) 25.09 16.54 15.44 14.83 14.40
-58
2012 2013 2014 2015 2016

Payout Ratio (%) 57.26 58.29 37.09 32.79 -
Yield (%) 4.77 4.53 2.60 6.40 -

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

PTPembangunanPerumahan(Persero)Tbk.wasestablisheddatedAugust26th,1953.

The Company's goals and objectives are to take part in construction business industry,
fabrication industry, rental service, agency, investment, agro industry, engineering
procurement and constructions (EPC), trades, site area management, enhancement in
constructioncapabilityservices,informationtechnology,tourism,hotelsbusinessservice,
engineeringandplanningservice,developmentservicestoproducehighqualityandhighly
competitive goods and/or service, and to generate profit to add value to the entity by
applyinglimitedliabilitycompanyprinciples.

The current business activities of the Company are in construction services, real estate
(developer),propertiesandinvestmentininfrastructureandenergy.

ToincreasevaluetotheCompany,themanagementadoptsacorporatestrategiesonthe
basis of four business pillars: Construction, EPC (Energy, Oil & Gas), Investment and
Property. To achieve the goals, the Company adopted the Company's vision: "PT PP
(Persero)TbkVision".

The vision shall become strategic guide lines in facing future challenge, which is: "To
becomealeadingconstructionandinvestmentcompanywhichprovideshighaddedvalues
toallofitsstakeholders".TheCompany'snewvision:"ToBeaLeaderinConstrustionand
InvestmentCompanyinIndonesiawhichInternationallyCompetitive".

AsofDecember31st,2016theCompanyhad1,817employees.
February 2017
Disclaimer:

PTPP PP(Persero)Tbk.[S]
48 | 22.3T | 0.39% | 72.87%
36 | 11.1T | 0.60% | 69.29%

Established Date : 26-Aug-1953 1. Negara Republik Indonesia 3,161,947,836 : 51.00%
Listing Date : 09-Feb-2010 2. Public (<5%) 3,037,949,518 : 49.00%
Under Writer IPO :
PT Mandiri Sekuritas DIVIDEND ANNOUNCEMENT
F/I
PT DBS Vickers Securities Indonesia Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 2009 10.11 09-Jul-10 12-Jul-10 14-Jul-10 28-Jul-10 F
PT BSR Indonesia 2010 14.57 07-Jul-11 08-Jul-11 12-Jul-11 15-Jul-11 F
Komplek Perkantoran ITC Roxy Mas Blok E1 No. 10-11 2011 14.88 07-Jun-12 08-Jun-12 12-Jun-12 15-Jun-12 F
Jln. K.H. Hasyim Ashari Jakarta 10150 2012 19.19 22-May-13 23-May-13 27-May-13 10-Jun-13 F
BOARD OF COMMISSIONERS ISSUED HISTORY

1. Oktavianus Dominggus Agn (Andi Gani Nena Wea) *) Listing Trading
2. Aryanto Sutadi *) No. Type of Listing Shares Date Date
3. Hediyanto W. Husaini 1. Negara RI (Seri A) 1 09-Feb-10 00-Jan-00
4. Muhammad Khoerur Roziqin 2. Penawaran Umum 1,038,976,500 09-Feb-10 09-Feb-10
5. Sumardi 3. Company Listing 2,469,642,759 09-Feb-10 09-Feb-10
*) Independent Commissioners 4. PP Employees Cooperative 1,333,817,240 09-Feb-10 08-Oct-10
5. Right Issue I 194,201,459 15-Dec-16 15-Dec-16
BOARD OF DIRECTORS 6. Right Issue I 802,295,711 16-Dec-16 16-Dec-16
1. Tumiyana 7. Right Issue I 251,487,198 19-Dec-16 19-Dec-16
2. Abdul Haris Tatang 8. Right Issue I 90,074,959 21-Dec-16 21-Dec-16
3. Agus Purbianto 9. Right Issue I 19,401,527 27-Dec-16 27-Dec-16
4. Lukman Hidayat
5. M. Aprindy
6. Mohamad Toha Fauzi
AUDIT COMMITTEE
1. Aryanto Sutadi
2. Handoko Tripriyono
3. Sularso
CORPORATE SECRETARY
Nugroho Agung Sanyoto
HEAD OFFICE
Plaza PP
Jln. Letjend. T.B. Simatupang No. 57,
Pasar Rebo, Jakarta 13760
Phone : (021) 840-3883; 877-84137
Fax : (021) 840-3890
Homepage : www.pt-pp.com
Email : corsec@pt-pp.com

TRADING ACTIVITIES
PP (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
4,800 160 Jan-13 900 760 870 16,564 617,373 522,744 21
Feb-13 940 860 920 11,923 419,197 378,668 20
4,200 140 Mar-13 1,230 890 1,200 17,716 790,488 798,175 19
Apr-13 1,430 1,130 1,420 19,097 690,182 884,041 22
May-13 1,750 1,410 1,750 24,287 727,035 1,131,154 22
3,600 120
Jun-13 1,780 1,250 1,350 36,109 812,645 1,189,127 19
Jul-13 1,530 950 1,420 37,739 873,532 1,103,275 23
3,000 100
Aug-13 1,530 830 1,060 31,214 672,174 765,094 17
Sep-13 1,270 840 1,120 51,644 1,283,678 1,414,590 21
2,400 80
Oct-13 1,440 1,060 1,310 34,973 898,458 1,077,363 21
Nov-13 1,350 1,100 1,150 19,864 372,873 448,996 20
1,800 60 Dec-13 1,250 1,110 1,160 17,127 421,327 489,944 19
1,200 40 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
600 20 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
Jun-14 1,900 1,710 1,850 17,958 257,943 464,091 21
Jul-14 2,420 1,795 2,260 42,486 462,899 998,247 18
Aug-14 2,505 2,200 2,465 33,365 266,229 641,406 20
Sep-14 2,535 2,100 2,150 34,176 272,040 638,895 22
490%
Jan-15 3,925 3,475 3,915 56,124 403,485 1,503,473 21
420% Feb-15 4,245 3,850 4,060 50,094 269,943 1,079,418 19
Mar-15 4,070 3,645 3,795 60,287 350,386 1,344,045 22
350% Apr-15 4,100 3,600 3,925 50,080 355,458 1,380,910 21
343.2%
May-15 4,215 3,800 4,020 40,119 176,464 711,806 19
280% 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
210%
Sep-15 3,585 3,110 3,465 42,260 165,650 568,854 21
Oct-15 3,930 3,470 3,810 43,871 192,689 719,571 21
140%
Nov-15 3,905 3,625 3,625 26,147 92,107 346,353 21
Dec-15 3,920 3,600 3,875 20,317 66,476 250,396 19
70%
59.7%
21.8% Jan-16 4,015 3,770 3,900 28,192 121,525 477,360 20
- 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
-70% Apr-16 3,895 3,550 3,665 25,658 124,271 465,637 21
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
Value (Billion Rp) 10,203 9,366 10,233 10,415 1,171 Oct-16 4,430 4,020 4,120 34,997 209,592 882,500 21
Days 244 242 244 246 21 Dec-16 4,250 3,510 3,810 40,317 367,445 1,414,387 20
Price (Rupiah) Jan-17 3,840 3,440 3,590 41,657 322,631 1,170,603 21

High 1,780 3,625 4,245 4,850 3,840
Low 760 1,105 2,960 3,300 3,440
Close 1,160 3,575 3,875 3,810 3,590
Close* 1,160 3,575 3,875 3,810 3,590
PER (X) 13.35 44.75 25.35 31.26 29.45

PER Industry (X) 9.57 16.29 13.36 24.89 28.26
PBV (X) 2.83 8.06 3.67 4.12 3.88

Public Accountant : Soejatna, Mulyana & Rekan
Receivables 1,633,937 2,187,005 3,135,044 4,111,735 6,297,782

25,000
Inventories 1,565,642 177,419 2,570,346 2,498,625 2,655,638

18,750
Investment 222,844 289,598 417,692 622,833 634,235
Fixed Assets 72,775 141,882 493,576 2,989,066 4,177,883
12,500
Other Assets - - - - 21,204
Total Assets 8,550,851 12,415,669 14,611,865 19,128,812 31,232,767 6,250
Growth (%) 45.20% 17.69% 30.91% 63.28%
-
Trade Payable 4,243,610 6,300,346 7,021,633 7,887,792 10,237,242 2012 2013 2014 2015 2016
Growth (%) 51.28% 17.17% 14.63% 45.87%
Paid up Capital 484,244 484,244 484,244 484,244 619,990

8,594
Par Value 100 100 100 100 100

709,439 1,037,220 1,442,959 2,076,892 2,921,539 5,119
6,391
Retained Earnings
Total Equity 1,655,849 1,984,747 2,390,270 5,119,072 10,796,158 4,189
Growth (%) 19.86% 20.43% 114.16% 110.90% 1,985

2,390
1,656
1,986

Total Revenues 8,003,873 11,655,844 12,427,371 14,217,373 16,458,884
-216
2012 2013 2014 2015 2016

Growth (%) 45.63% 6.62% 14.40% 15.77%
Cost of Revenues 7,149,367 10,382,923 10,894,711 12,210,412 14,003,355

Gross Profit 854,505 1,272,922 1,532,660 2,006,961 2,455,530
710,825 1,073,385 1,256,702 1,597,164 1,968,199

16,459

Growth (%) 51.01% 17.08% 27.09% 23.23% 13,101
11,656
12,427
8,004
Income before Tax 545,392 766,890 919,445 1,287,534 1,703,610
Tax 235,709 346,170 387,380 441,971 552,178
6,386
Profit for the period 309,683 420,720 532,065 845,563 1,151,432

Growth (%) 35.86% 26.47% 58.92% 36.17%
3,028
-329
Period Attributable 309,683 420,708 531,951 740,323 1,023,369 2012 2013 2014 2015 2016
Comprehensive Income 309,683 420,720 532,065 2,037,652 1,277,066
Comprehensive Attributable 309,683 420,708 531,951 1,932,412 1,149,004
Dividend (Rp) 19.19 26.06 21.97 - - 1,151
EPS (Rp) 63.95 86.88 109.88 174.62 185.72

846
BV (Rp) 341.95 409.87 493.61 1,057.13 1,741.34 917
DAR (X) 0.81 0.84 0.84 0.73 0.65

DER(X) 4.16 5.26 5.11 2.74 1.89 532
682
ROA (%) 3.62 3.39 3.64 4.42 3.69 421

310
447
ROE (%) 18.70 21.20 22.26 16.52 10.67

GPM (%) 10.68 10.92 12.33 14.12 14.92 212
OPM (%) 8.88 9.21 10.11 11.23 11.96

NPM (%) 3.87 3.61 4.28 5.95 7.00
-23
2012 2013 2014 2015 2016

Payout Ratio (%) 30.01 29.99 20.00 - -
Yield (%) 0.50 0.68 0.58 - -

COMPANY REPORT
PWON
PAKUWON JATI TBK.
Company Profile

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

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

PakuwonJatiisthepioneeroftheSuperblockconceptinIndonesia,alargescaleintegrated
mixeduse development of retail shopping mall, office, condominium and hotel. Its
successful track record and reputation within the property industry has secured strong
longtermrelationshipswithtenantsandbuyers,whichprovidesastableplatformforrapid
businessexpansion.

BasedonCompanysArticleofAssociations,theCompanyisengagedinbusiness:
1) Shoppingcenter:TunjunganPlaza,KotaKasablanka,GandariaCity
2) BusinesscenternamedasMandiriOfficeTower,Gandaria8OfficeTower
3) HotelnamedasSheratonSurabayaHotelandTowers,GandariaHotel
4) Real estate business Pakuwon City Township, Condominium Regensi, CasaGrande
Condominium,GandariaHeightsCondominium.

TheCompanyhasdirectandindirectownershipinsubsidiaries:PTArtisanWahyu,PTElite
PrimaHutama,PTPakuwonSentraWisata,PTPakuwonRegency,PTGramaPramesiSiddhi,
PakuwonPrimaPte.Ltd.Singapore,ArtiusGrandisPte.Ltd.,PTCentrumUtamaPrima,PT
Pakuwon Permai, PT Dwijaya Manunggal, PT Pakuwon Sentosa Abadi, and PT Permata
BerlianRealty.

The company started commercial operations in May 1986. The Company and its
subsidiarieshadtotalnumberofemployeesof2,974asofSeptember30th,2016.
February 2017
Disclaimer:

PWON Pakuwon Jati Tbk. [S]
34 | 27.0T | 0.47% | 66.98%
31 | 13.8T | 0.74% | 66.14%

Established Date : 20-Sep-1982 1. PT Pakuwon Arthaniaga 18,964,294,800 : 39.38%
Listing Date : 09-Oct-1989 2. JPMCB Na Re- PT Pakuwon 6,080,129,840 : 12.62%
PT Danareksa (Persero)
PT Inter-Pacific Financial Corporation Bonus Cash Recording Payment
F/I
PT Sirca Datapro Perdana 1990 50.00 08-Jun-90 11-Jun-90 15-Jun-90 22-Jul-90
Jln. Johar No. 18 1991 75.00 28-Feb-91 01-Mar-91 08-Mar-91 08-Apr-91
Menteng, Jakarta 10340 1991 30.00 10-Jun-92 12-Jun-92 19-Jun-92 20-Jul-92 F
Phone : (021) 314-0032, 390-5920, 390-0645 1991 2:1 23-Nov-92 24-Nov-92 01-Dec-92 23-Dec-92 B
Fax : (021) 314-0185, 390-0652, 390-0671 1992 25.00 09-Aug-93 10-Aug-93 18-Aug-93 18-Sep-93 F
1993 25.00 12-Jul-94 13-Jul-94 20-Jul-94 19-Aug-94 F
1. Alexander Tedja 1995 17.50 30-May-96 31-May-96 10-Jun-96 08-Jul-96 F
2. Dyah Pradnyaparamita Duarsa *) 1996 25.00 27-Jun-97 30-Jun-97 08-Jul-97 06-Aug-97 F
3. Richard Adisastra 2011 1.45 09-Oct-12 10-Oct-12 12-Oct-12 25-Oct-12 F
*) Independent Commissioners 2012 3.50 08-Oct-13 09-Oct-13 11-Oct-13 25-Oct-13 F
2013 4.50 17-Jul-14 18-Jul-14 22-Jul-14 12-Aug-14 F
BOARD OF DIRECTORS 2014 4.50 02-Jul-15 03-Jul-15 07-Jul-15 29-Jul-15 F
1. Alexander Stephanus Ridwan Suhendra 2015 4.50 11-Jul-16 12-Jul-16 14-Jul-16 29-Jul-16 F
2. Eiffel Tedja
3. Lauw, Syane Wahyuni Loekito ISSUED HISTORY
4. Minarto Listing Trading
5. Sutandi Purnomosidi No. Type of Listing Shares Date Date
6. Wong Boon Siew Ivy 1. First Issue 3,000,000 09-Oct-89 09-Oct-89
2. Company Listing 17,000,000 09-Oct-89 09-Oct-89
AUDIT COMMITTEE 3. Right Issue 50,000,000 01-Oct-91 01-Oct-91
1. Agus Soesanto 4. Bonus Shares 35,000,000 24-Dec-92 24-Dec-92
2. Antonius Susanto 5. Right Issue 1,650 18-Jul-94 19-Aug-94
3. Lisawati 6. Right Issue 20,500 18-Jul-94 19-Aug-94
7. Right Issue 20,078,445 18-Jul-94 24-Aug-94
CORPORATE SECRETARY 8. Right Issue 9,804,048 18-Jul-94 30-Aug-94
Minarto 9. Right Issue 74,483,629 18-Jul-94 31-Aug-94
10. Right Issue 543,853 18-Jul-94 01-Sep-94
HEAD OFFICE 11. Right Issue 5,000 18-Jul-94 29-Jul-94
EastCoast Center 5th Fl. 12. Right Issue 4,300 18-Jul-94 05-Aug-94
Pakuwon Town Square - Pakuwon City 13. Right Issue 6,500 18-Jul-94 10-Aug-94
Jln. Kejawan Putih Mutiara No. 17, Surabaya 14. Right Issue 21,625 18-Jul-94 11-Aug-94
Phone : (031) 582-08788 15. Right Issue 30,450 18-Jul-94 16-Aug-94
Fax : (031) 582-08798 16. Stock Split 210,000,000 29-Jan-96 29-Jan-96
17. Add. Listing without RI 247,000,000 03-Feb-06 03-Feb-06
Homepage : www.pakuwon.com 18. Add. Listing without RI (canceled) -247,000,000 20-Mar-06 20-Mar-06
Email : minarto@pakuwon.com 19. CB Conversion 22,705,000 21-Mar-06 21-Mar-06
20. CB Conversion 224,295,000 27-Mar-06 27-Mar-06
21. CB Conversion 876,577,000 08-Aug-06 08-Aug-06
22. Stock Split 6,174,308,000 19-Sep-07 19-Sep-07
23. Bonus Shares 2,315,365,500 22-Aug-08 22-Aug-08
24. Right Issue 2,006,650,100 02-Jan-12 02-Jan-12
25. Stock Split 36,119,701,800 30-Mar-12 30-Mar-12

PWON Pakuwon Jati Tbk. [S]
TRADING ACTIVITIES
Pakuwon Jati Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
760 3,200 Jan-13 285 220 275 33,019 1,794,827 468,474 21
Feb-13 365 270 360 37,849 2,265,935 696,864 20
665 2,800 Mar-13 390 330 385 39,189 2,099,959 754,102 19
Apr-13 410 345 405 55,798 2,863,722 1,079,612 22
May-13 430 370 420 63,308 5,045,118 2,006,700 22
570 2,400
Jun-13 425 305 345 53,787 2,935,423 1,041,998 19
Jul-13 390 310 380 40,125 2,138,014 729,542 23
475 2,000
Aug-13 390 240 290 26,014 1,402,520 447,531 17
Sep-13 310 250 285 38,823 1,910,635 551,184 21
380 1,600
Oct-13 320 260 310 41,350 1,643,983 475,042 21
Nov-13 315 250 250 26,908 1,219,425 331,106 20
285 1,200 Dec-13 290 250 270 23,647 1,320,513 351,679 19
190 800 Jan-14 340 261 307 48,959 976,326 299,281 20

Feb-14 355 303 330 45,367 1,135,771 374,607 20
95 400 Mar-14 392 323 350 52,428 1,413,058 511,373 20
Apr-14 392 338 352 61,363 1,702,129 622,424 20
May-14 408 353 408 43,214 1,025,350 388,372 18
Jun-14 400 337 349 36,740 791,084 293,337 21
Jul-14 449 344 415 50,717 1,380,171 550,046 18
Aug-14 500 390 435 84,200 4,427,598 1,911,446 20
Sep-14 445 391 404 77,849 2,110,045 890,296 22
Property, Real Estate and Bulding Construction Index Nov-14 525 429 515 55,333 1,190,333 555,625 20
January 2013 - January 2017 Dec-14 555 456 515 54,593 1,351,233 683,696 20
245%
Jan-15 545 462 499 112,556 6,716,000 3,274,163 21
210% Feb-15 565 481 550 69,429 2,561,866 1,316,795 19
Mar-15 555 486 515 85,765 2,978,488 1,509,847 22
175% Apr-15 535 435 438 90,113 2,140,590 1,061,334 21
May-15 475 417 442 92,895 3,477,942 1,530,904 19
148.9% Jun-15 455 372 430 85,264 2,619,761 1,091,585 21
140%
Jul-15 451 390 415 61,440 1,756,072 737,236 19
Aug-15 422 313 380 60,816 2,245,579 826,986 20
105%
Sep-15 378 328 331 53,599 1,480,527 524,279 21
Oct-15 464 329 426 78,340 2,154,735 876,440 21
70%
59.7% Nov-15 468 408 461 54,174 1,081,725 481,291 21
Dec-15 505 416 496 47,304 1,190,925 554,015 19
35%
21.8%
Jan-16 505 418 448 69,744 1,567,648 723,416 20
- Feb-16 498 435 458 81,565 1,774,679 824,176 20
Mar-16 540 456 484 71,210 1,787,386 894,038 21
-35% Apr-16 550 481 525 49,505 1,334,420 691,248 21
Jan 13 Jan 14 Jan 15 Jan 16 Jan 17 May-16 550 482 550 39,128 995,024 512,186 20
Jun-16 645 530 615 60,831 1,835,551 1,076,340 22
Jul-16 665 600 650 50,914 1,696,267 1,073,981 16
Value (Billion Rp) 8,934 7,765 13,785 13,889 633 Oct-16 765 645 720 84,663 1,435,071 1,009,818 21
Days 244 242 244 246 21 Dec-16 700 535 565 64,212 2,085,323 1,275,702 20
Price (Rupiah) Jan-17 610 555 560 53,285 1,080,674 633,472 21

High 430 555 565 765 610
Low 220 261 313 418 555
Close 270 515 496 565 560
Close* 270 515 496 565 560
PER (X) 11.48 14.14 18.93 15.55 15.41

PER Industry (X) 9.57 16.29 13.36 24.89 28.26
PBV (X) 3.17 4.57 2.53 2.56 2.54

PWON PakuwonJatiTbk.[S]
Receivables 138,509 166,915 303,348 301,528 232,864

17,000
Inventories 1,262,136 1,051,081 1,671,766 2,254,347 2,582,136

12,750
Investment 216 268,531 20,971 18,056 15,681
Fixed Assets 844,548 673,096 964,375 1,457,275 1,723,669
8,500
Other Assets 11 11 20,725 3,337 3,511
Total Assets 7,565,820 9,298,245 16,770,743 18,778,122 20,080,505 4,250
Growth (%) 22.90% 80.36% 11.97% 6.94%
-
Growth (%) 17.25% 63.36% 9.84% 1.59%
Paid up Capital 1,203,990 1,203,990 1,203,990 1,203,990 1,203,990 8,283
8,445
Par Value 25 25 25 25 25
1,345,905 2,310,166 1,607,954 5,654,568 67,504,088
6,281
Retained Earnings
4,103
Total Equity 3,134,536 4,102,509 8,283,071 9,455,056 10,609,107 4,116
3,135
Growth (%) 30.88% 101.90% 14.15% 12.21%
1,952

Total Revenues 2,165,397 3,029,797 3,872,273 4,625,053 3,635,051
-212
2012 2013 2014 2015 Sep-16

Growth (%) 39.92% 27.81% 19.44%
Cost of Revenues 931,477 1,264,879 1,714,248 1,956,525 1,564,786

Gross Profit 1,233,920 1,764,919 2,158,025 2,668,528 2,070,265
Operating Expenses 332,815 433,727 -701,281 1,243,386 641,085 4,625
- - - - 1,429,180
4,625

3,635
Growth (%) 3,682
3,030

2,165
2,738
Income before Tax 901,105 1,331,192 2,859,306 1,425,142 1,429,180

Tax 134,609 194,644 260,165 24,588 24,968
1,795
Profit for the period 766,496 1,136,548 2,599,141 1,400,554 1,404,211

Growth (%) 48.28% 128.69% -46.11%
851
-93
Period Attributable 747,989 1,132,820 2,515,505 1,261,887 1,312,559 2012 2013 2014 2015 Sep-16
Comprehensive Income 766,496 1,136,548 2,597,079 1,408,606 1,382,052
Comprehensive Attributable 747,989 1,132,820 2,513,443 1,269,203 1,294,868
Dividend (Rp) 3.50 4.50 4.50 4.50 - 2,599
EPS (Rp) 15.92 23.60 53.97 29.08 29.16

BV (Rp) 65.09 85.19 171.99 196.33 220.29 2,069
DAR (X) 0.59 0.56 0.51 0.50 0.47 1,401 1,404

DER(X) 1.41 1.27 1.02 0.99 0.89
1,539
1,137
ROA (%) 10.13 12.22 15.50 7.46 6.99 1,008
766
ROE (%) 24.45 27.70 31.38 14.81 13.24
GPM (%) 56.98 58.25 55.73 57.70 56.95 478
OPM (%) - - - - 39.32

NPM (%) 35.40 37.51 67.12 30.28 38.63
-52
2012 2013 2014 2015 Sep-16

Payout Ratio (%) 21.99 19.07 8.34 15.47 -
Yield (%) 0.52 0.67 0.67 0.67 -

COMPANY REPORT
SCMA
SURYA CITRA MEDIA TBK.
Company Profile

The Company was formed on 29 January 1999 to operate as a holding company for
multimediaservicesaswellasconsultancyservicesinthemediaandrelatedbusiness.The
mainpurposebehinditscreation,however,wastobroadenthehorizonsofPTSuryaCitra
Televisi(SCTV),oneofthelargestTVbroadcastingstationsinIndonesia,today.
As a media broadcasting company, SCTV is restricted by law to operate solely and

exclusively as a broadcasting company for which it was licenced for. Yet, the business
prospects of an integrated multimedia services group are simply too promising to be
ignored.
Hence,theestablishmentofTheCompanysignifiedtheemergenceofahighlyprospective
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,andwentpublicinJuly2002.
PT Elang Mahkota Teknologi Tbk. is the ultimate parent entity of the Company and its
subsidiaries.

SubsidiariesdirectlyownedbytheCompanyareasfollows:
PTSuryaCitraTelevisi(SCTV),
PTIndosiarVisualMandiri,
PTScreenplayProduksi,
PTBangkaTeleVision,
PTSuryaCitraPesona,
PTSuryaTrioptimaMultikreasi,
PTSuryaCitraGelora,and
PTIndonesiaEntertainmenGroup.

AsofSeptember30th,2016,theCompanyandSubsidiarieshad2,807employees.

February 2017
Disclaimer:

SCMA Surya Citra Media Tbk.
Industry Sub Sector : Advertising, Printing And Media (95) Market Capitalization : 41,232,915,479,880
23 | 41.2T | 0.72% | 60.43%
37 | 10.9T | 0.58% | 69.88%

Established Date : 29-Jan-1999 1. PT Elang Mahkota Teknologi 8,870,942,351 : 60.67%
Under Writer IPO :
PT CLSA Indonesia DIVIDEND ANNOUNCEMENT
F/I
Plaza Central Building 2nd Fl. 2002 15.00 20-Aug-02 21-Aug-02 26-Aug-02 09-Sep-02 I
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 2002 30.00 01-Jul-03 02-Jul-03 04-Jul-03 18-Jul-03 F
Phone : (021) 252-5666 2003 5.00 05-Aug-04 06-Aug-04 10-Aug-04 25-Aug-04 F
2004 25.00 08-Dec-05 09-Dec-05 13-Dec-05 28-Dec-05 F
1. Raden Soeyono 2006 8.00 15-Dec-06 18-Dec-06 20-Dec-06 05-Jan-07 I
2. Glenn Muhammad Surya Yusuf *) 2007 20.00 01-Aug-07 02-Aug-07 06-Aug-07 21-Aug-07 I
3. Jay Geoffrey Wacher 2007 8.00 10-Sep-08 11-Sep-08 15-Sep-08 29-Sep-08 F
4. Raden Alvin Widarta Sariaatmadja 2008 40.00 16-Dec-08 17-Dec-08 19-Dec-08 08-Jan-09 I
5. Suryani Zaini *) 2008 130.00 19-Jun-09 22-Jun-09 24-Jun-09 07-Jul-09 F
2010 60.00 08-Nov-10 09-Nov-10 11-Nov-10 23-Nov-10 I
BOARD OF DIRECTORS 2010 225.00 27-Jun-11 28-Jun-11 01-Jul-11 12-Jul-11 F
1. Sutanto Hartono 2011 35.00 27-Jun-11 28-Jun-11 01-Jul-11 12-Jul-11 I
2. Harsiwi Achmad 2011 125.00 14-Jun-12 15-Jun-12 19-Jun-12 03-Jul-12 F
3. Imam Sudjarwo 2012 48.00 06-May-13 07-May-13 10-May-13 24-May-13 F
4. Mutia Nandika 2013 15.00 21-Nov-13 22-Nov-13 26-Nov-13 10-Dec-13 I
5. Rusmiyati Djajaseputra 2013 51.00 18-Aug-14 19-Aug-14 21-Aug-14 04-Sep-14 F
2014 70.00 28-Apr-15 29-Apr-15 04-May-15 21-May-15 F
AUDIT COMMITTEE 2015 55.00 03-Dec-15 04-Dec-15 08-Dec-15 22-Dec-15 I
1. Glenn Muhammad Surya Yusuf 2015 28.00 25-May-16 26-May-16 30-May-16 06-Jun-16 F
2. Emmanuel Bambang Suyitno 2016 55.00 02-Dec-16 05-Dec-16 07-Dec-16 22-Dec-16 I
3. M. Risanggono Soemaryono
ISSUED HISTORY
CORPORATE SECRETARY Listing Trading
Gilang Iskandar No. Type of Listing Shares Date Date
1. First Issue 375,000,000 16-Jul-02 16-Jul-02
HEAD OFFICE 2. First Issue (Green Shoe) 56,250,000 16-Jul-02 16-Jul-02
SCTV Tower -Senayan City 3. Company Listing 1,443,750,000 T: 16-Jul-02 : 28-Feb-03
Jln. Asia Afrika Lot. 19 4. Warrant 18,750,000 05-Mar-03 05-Mar-03
Jakarta 10270 5. ESOP Conversion 56,250,000 T: 23-May-08 : 14-Jun-12
Phone : (021) 279-35599 6. Stock Splits 7,800,000,000 29-Oct-12 29-Oct-12
Fax : (021) 279-35598 7. Merger with IDKM 4,871,601,234 01-May-13 01-May-13
Homepage : www.scm.co.id
Email : gilang.iskandar@indosiar.com

TRADING ACTIVITIES
Surya Citra Media Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,200 800 Jan-13 2,500 2,175 2,375 2,844 74,017 168,664 21
Feb-13 2,975 2,150 2,575 7,347 114,123 268,789 20
3,675 700 Mar-13 2,925 2,450 2,775 5,901 158,946 415,150 19
Apr-13 2,950 2,625 2,800 4,171 177,045 482,182 20
May-13 3,125 2,625 2,900 7,102 224,109 651,217 22
3,150 600
Jun-13 2,950 2,250 2,725 8,696 192,983 503,785 19
Jul-13 2,925 2,300 2,675 7,002 124,551 329,380 23
2,625 500
Aug-13 3,000 2,300 2,500 5,905 140,977 378,417 17
Sep-13 2,750 2,300 2,550 7,547 167,051 421,739 21
2,100 400
Oct-13 2,575 2,150 2,350 9,540 196,809 473,590 21
Nov-13 2,975 2,250 2,850 22,527 652,332 1,798,826 20
1,575 300 Dec-13 2,875 2,450 2,625 10,133 252,342 676,768 19
1,050 200 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
525 100 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
Jun-14 3,615 3,100 3,585 30,599 387,714 1,298,374 21
Jul-14 3,900 3,250 3,800 41,264 519,179 1,817,851 18
Aug-14 4,200 3,690 4,110 55,141 696,177 2,697,996 20
Sep-14 4,190 3,725 3,825 46,879 173,175 681,805 22
105%
Jan-15 3,730 3,205 3,415 62,923 408,147 1,407,805 21
90% Feb-15 4,040 3,325 3,650 72,671 383,350 1,392,435 19
Mar-15 3,680 3,150 3,395 70,054 418,705 1,451,881 22
75% 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
60% 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
45%
Sep-15 2,845 2,470 2,740 43,883 189,189 491,120 21
Oct-15 3,450 2,645 2,925 60,159 240,686 716,870 21
30%
24.0%
Nov-15 3,455 2,950 3,030 65,032 232,719 740,646 21
21.8% Dec-15 3,185 2,950 3,100 47,180 197,277 603,671 19
15% 14.7%
Jan-16 3,320 2,625 2,700 56,917 235,608 681,337 20
- 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
-15% Apr-16 3,305 3,010 3,200 39,120 196,512 623,649 21
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
Days 242 242 244 246 21 Dec-16 2,890 2,460 2,800 37,832 396,526 1,016,794 20
Price (Rupiah) Jan-17 2,970 2,560 2,820 39,750 225,902 631,439 21

High 3,125 4,200 4,040 3,550 2,970
Low 2,150 2,410 2,285 2,130 2,560
Close 2,625 3,500 3,100 2,800 2,820
Close* 2,625 3,500 3,100 2,800 2,820
PER (X) 29.99 34.72 29.75 26.57 26.76

PER Industry (X) 15.42 22.13 14.53 19.07 17.53
PBV (X) 13.76 16.34 13.28 9.80 9.87

Cash & Cash Equivalents 927,423 1,043,283 1,246,109 685,722 1,048,269 5,000
Receivables 721,898 1,014,685 1,291,374 1,411,872 1,579,959

222,674 374,639 462,439 532,656 623,737 4,000
Inventories
Current Assets 1,917,041 2,570,167 3,200,366 2,843,500 3,397,575
3,000
Fixed Assets 326,717 724,970 761,978 962,114 973,549
Other Assets 17,729 22,115 27,969 29,919 30,873
2,000
Total Assets 2,893,172 4,010,166 4,728,436 4,565,964 5,334,395
Growth (%) 38.61% 17.91% -3.44% 16.83% 1,000
Current Liabilities 416,149 705,700 819,158 860,470 1,036,343 -

Long Term Liabilities 288,585 515,010 431,090 291,818 121,399 2012 2013 2014 2015 Sep-16
Total Liabilities 704,733 1,220,709 1,250,248 1,152,288 1,157,742
Growth (%) 73.22% 2.42% -7.84% 0.47%
Paid up Capital 487,500 731,080 731,080 731,080 731,080 3,847
3,478 3,414
2,789
Par Value 50 50 50 50 50
3,062
Retained Earnings 1,136,538 184,867 2,432,821 2,100,622 2,846,808 2,188

2,278
Total Equity 2,188,439 2,789,457 3,478,188 3,413,676 4,176,653

Growth (%) 27.46% 24.69% -1.85% 22.35% 1,493
INCOME STATEMENTS Dec-12 Dec-13 Dec-14 Dec-15 Sep-16 708
Total Revenues 2,240,085 3,694,748 4,055,702 4,237,980 3,418,838

Growth (%) 64.94% 9.77% 4.49%
-77
2012 2013 2014 2015 Sep-16
Gross Profit - - - 4,237,980 3,418,838
Expenses (Income) 1,035,222 1,935,962 2,138,831 2,223,431 1,873,465
4,056
45.97% 8.99% 5.10%
4,238
Growth (%) 3,695

3,419
3,373
Other Income (Expenses) -5,396 5,309 221 23,918 11,810

Income before Tax 1,199,467 1,764,095 1,917,092 2,038,467 1,557,183 2,509 2,240
Tax 286,455 448,139 468,818 513,470 386,738

Profit for the period 913,013 1,285,897 1,448,274 1,521,586 1,170,445 1,644
Growth (%) 40.84% 12.63% 5.06%

780
Period Attributable 913,013 1,280 1,453,644 1,523,524 1,155,584 -85
Comprehensive Income 913,013 1,285,897 1,448,274 1,539,245 1,169,147 2012 2013 2014 2015 Sep-16
Comprehensive Attributable 913,013 1,280 1,453,644 1,540,528 1,154,551
Current Ratio (%) 460.66 364.20 390.69 330.46 327.84
1,522
48.00 66.00 70.00 83.00 55.00 1,448
Dividend (Rp) 1,522
1,286
EPS (Rp) 93.64 0.09 99.42 104.20 79.03 1,170
BV (Rp) 224.46 190.78 237.88 233.47 285.65 1,211
DAR (X) 0.24 0.30 0.26 0.25 0.22 913
0.32 0.44 0.36 0.34 0.28

901
DER(X)
ROA (%) 31.56 32.07 30.63 33.32 21.94 590
ROE (%) 41.72 46.10 41.64 44.57 28.02

GPM (%) - - - 100.00 100.00 280
OPM (%) 53.79 47.60 47.26 47.54 45.20

NPM (%) 40.76 34.80 35.71 35.90 34.24
-30
2012 2013 2014 2015 Sep-16

Payout Ratio (%) 51.26 75,411.53 70.41 79.66 69.59
Yield (%) 2.13 2.51 2.00 2.68 1.96

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
SMGR
SEMEN INDONESIA (PERSERO) TBK.
Company Profile
PT Semen Indonesia (Persero) Tbk. was established on March 25th, 1953 The Company
commenced commercial operations on August 7, 1957. The Company's controlling
shareholderistheGovernmentoftheRepublicofIndonesia.

ThescopeofactivitiesoftheCompanyinaccordancewiththeArticlesofAssociationand
being carried out during the reporting period is to engage in the cement industry. The
CompanysanditssubsidiariescementplantsarelocatedinGresikandTubaninEastJava,
Indarung in West Sumatera,Pangkep inSouthSulawesi and QuangNinh in Vietnam.The
Group'productsaremarketeddomesticallyandinternationally.

AsofDecember31st,2016,theCompanyanditssubsidiarieshad6,828employees.

The subsidiaries of the company are established as Strategic Tools, in order to give the
maximumcontributions.Inaddition,theirexistenceisexpectedtoincurbeneficialsynergy
inordertoachievethepurposeinaccordancewiththestipulatedcorebusiness.Beloware
thesubsidiariesofthecompany:
PTSemenPadang, PTSinergiInformatikaSemenIndonesia,
PTSepatimBatamtama, ThangLongCementJointStockCompany,
PTBimaSepajaAbadi, ThangLongCementJointStockCompany2,
PTSemenTonasa, AnPhuCementJointStockCompany.
PTSemenGresik, PTSemenIndonesiaAceh
PTUnitedTractorsSemenGresik, PTSemenIndonesiaInternational
PTIndustriKemasanSemenGresik, PTSemenKupangIndonesia
PTKawasanIndustriGresik, PTVariaUsaha
PTSGGEnergiPrima, PTWaruAbadi
PTSemenIndonesiaBeton, PTVariaUsahaBahari
PTVariaUsahaBeton, PTVariaUsahaDharmaSegara
PTKrakatauSemenIndonesia, PTVariaUsahaLintasSegara

In 2014 The Company obtain an award given by the Economic News media through the
"Living Legend Company & Everlasting Brand Award 2014". This award is a token of
appreciationforbusinessesbothSOEsandprivatecompaniesthathaveexistedfor more
than 50 years and has a good performance. Assessment of these companies is done not
onlyintermsofageandperformance,butalsoinnovationandstrategyinthefaceofcrisis.
February 2017
Disclaimer:

SMGR Semen Indonesia (Persero) Tbk. [S]
Industry Sub Sector : Cement (31) Market Capitalization : 53,531,968,000,000
19 | 53.5T | 0.93% | 57.18%
16 | 23.7T | 1.28% | 52.02%

Established Date : 25-Mar-1953 1. Pemerintah RI QQ Menteri Keuangan RI 3,025,406,000 : 51.01%
Under Writer IPO :
PT Buanamas Investindo DIVIDEND ANNOUNCEMENT
PT Ficorinvest Bonus Cash Recording Payment
F/I
PT Indovest Securities Year Shares Dividend Cum Date Ex Date Date Date
PT Merchant Investment Corporation 1991 284.70 12-Jun-92 15-Jun-92 22-Jun-92 13-Jul-92 F
PT Multicor 1992 267.75 14-Jun-93 15-Jun-93 24-Jun-93 22-Jul-93 F
PT Nikko Securities Indonesia 1993 164.18 13-Jul-94 14-Jul-94 21-Jul-94 19-Aug-94 F
PT Nomura Indonesia 1994 184.51 03-Jul-95 04-Jul-95 12-Jul-95 11-Aug-95 F
PT Primarindo Daya Investama 1995 109.62 11-Jul-96 12-Jul-96 22-Jul-96 20-Aug-96 F
Securities Administration Bureau : 1996 147.87 08-Jul-97 09-Jul-97 18-Jul-97 15-Aug-97 F
PT Datindo Entrycom 1997 156.82 09-Jul-98 10-Jul-98 20-Jul-98 18-Aug-98 F
Wisma Sudirman - Puri Datindo 1998 135.06 13-Jul-99 14-Jul-99 22-Jul-99 20-Aug-99 F
Phone : (021) 570-9009 2000 231.14 05-Jul-01 06-Jul-01 13-Jul-01 20-Jul-01 F
2002 115.03 18-Jul-03 21-Jul-03 23-Jul-03 06-Aug-03 F
1. Mahendra Siregar 2003 112.73 22-Dec-04 23-Dec-04 28-Dec-04 07-Jan-05 F
2. Muchammad Zaidun 2004 39.67 05-Jan-05 06-Jan-05 10-Jan-05 18-Jan-05 I
3. Djamari Chaniago 2005 267.51 18-Jul-05 19-Jul-05 21-Jul-05 01-Aug-05
4. Marwanto Harjowiryono 2005 443.12 21-Jul-06 24-Jul-06 26-Jul-06 09-Aug-06 F
5. Hambra 2006 1,092.06 19-Jul-07 20-Jul-07 24-Jul-07 07-Aug-07 F
6. Wahyu Hidayat 2007 149.66 29-May-08 30-May-08 03-Jun-08 17-Jun-08 F
7. Sony Subrata 2008 215.19 21-Jul-09 22-Jul-09 24-Jul-09 07-Aug-09 F
*) Independent Commissioners 2009 58.00 07-Dec-09 08-Dec-09 10-Dec-09 23-Dec-09 I
2009 250.45 19-Jul-10 20-Jul-10 22-Jul-10 05-Aug-10 F
BOARD OF DIRECTORS 2010 58.00 27-Dec-10 28-Dec-10 30-Dec-10 04-Jan-11 I
1. Rizkan Chandra 2010 248.26 27-Jul-11 28-Jul-11 01-Aug-11 15-Aug-11 F
2. Ahyanizzaman 2011 330.89 17-Jul-12 18-Jul-12 20-Jul-12 03-Aug-12 F
3. Gatot Kustyadji 2012 367.74 29-May-13 30-May-13 03-Jun-13 17-Jun-13 F
4. Johan Samudra 2013 407.42 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
5. Aunur Rosyidi 2014 375.34 23-Apr-15 24-Apr-15 28-Apr-15 20-May-15 F
6. Darmawan Juniadi 2015 304.91 20-May-16 23-May-16 25-May-16 16-Jun-16 F
7. Budi Siswoyo
ISSUED HISTORY
AUDIT COMMITTEE Listing Trading
1. Djamari Chaniago No. Type of Listing Shares Date Date
2. Hambra 1. First Issue 40,000,000 08-Jul-91 08-Jul-91
3. Sahat Pardede 2. Partial Listing 30,000,000 08-Jul-91 17-May-92
4. Elok Tresnaningsih 3. Company Listing 78,288,000 02-Jun-95 02-Jun-95
4. Right Issue 444,864,000 10-Aug-95 10-Aug-95
CORPORATE SECRETARY 5. Stock Split 5,338,368,000 07-Aug-07 07-Aug-07
Agung Wiharto
HEAD OFFICE
Semen Gresik Main Building
Jln. Veteran
Gresik 61122
Phone : (021) 526-11745, (031) 398-17312
Fax : (021) 526-1176, (031) 398-3209
Homepage : www.semengresik.com
Email : corp.sec@sg.sggrp.com
agungw@sg.sggrp.com

TRADING ACTIVITIES
Semen Indonesia (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
20,000 80.0 Jan-13 16,500 14,800 15,750 36,762 178,167 2,774,872 21
Feb-13 17,350 15,650 17,350 25,757 127,417 2,087,807 20
17,500 70.0 Mar-13 19,050 16,750 17,700 33,701 163,665 2,914,490 19
Apr-13 19,000 17,550 18,400 30,277 174,546 3,160,011 22
May-13 19,150 17,800 18,000 34,933 170,557 3,163,710 22
15,000 60.0
Jun-13 18,100 15,100 17,100 62,937 338,786 5,634,798 19
Jul-13 17,350 14,500 15,200 56,573 251,155 3,838,600 23
12,500 50.0
Aug-13 16,100 11,350 12,600 48,611 218,078 2,926,645 17
Sep-13 16,100 12,000 13,000 58,179 271,286 3,754,482 21
10,000 40.0
Oct-13 14,900 12,650 14,350 42,313 256,768 3,562,387 21
Nov-13 14,450 12,500 12,800 40,588 214,362 2,844,746 20
7,500 30.0 Dec-13 14,250 12,550 14,150 26,707 183,705 2,448,156 19
5,000 20.0 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
2,500 10.0 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
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
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
Basic Industry and Chemicals Index Nov-14 16,350 15,000 16,000 45,771 109,742 1,736,450 20
45%
Jan-15 16,475 13,950 14,575 86,580 270,215 4,033,800 21
30% Feb-15 15,150 14,350 14,875 52,352 153,045 2,256,306 19
21.8% Mar-15 14,950 12,525 13,650 70,512 170,929 2,401,500 22
15% 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
6.6%
- 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
-15%
Sep-15 10,500 8,100 9,050 66,098 150,962 1,445,208 21
Oct-15 11,300 9,050 9,800 69,272 158,028 1,648,908 21
-30%
Nov-15 11,775 9,625 10,625 66,730 144,770 1,571,643 21
Dec-15 11,500 10,275 11,400 55,352 119,304 1,300,428 19
-45% -43.4%
Jan-16 11,475 10,000 11,050 57,333 159,850 1,708,818 20

-60% 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
-75% Apr-16 10,800 9,800 9,900 50,072 127,500 1,319,702 21
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
Days 244 242 244 246 21 Dec-16 9,500 8,875 9,175 44,800 115,618 1,064,342 20
Price (Rupiah) Jan-17 9,500 8,575 9,025 43,912 111,066 1,003,395 21

High 19,150 17,400 16,475 11,875 9,500
Low 11,350 13,500 7,100 8,050 8,575
Close 14,150 16,200 11,400 9,175 9,025
Close* 14,150 16,200 11,400 9,175 9,025
PER (X) 15.63 17.63 14.96 13.94 13.71

PER Industry (X) 6.83 16.60 4.10 20.86 23.23
PBV (X) 3.85 4.09 2.46 1.91 1.88

Receivables 2,522,529 2,916,062 3,432,557 3,628,641 4,018,284

22,849,053 2,645,893 2,811,704 2,408,974 2,671,145 36,000
Inventories
Current Assets 8,231,297 9,972,110 11,648,545 10,538,704 10,373,159
27,000
Fixed Assets 16,794,115 18,862,518 20,221,067 25,167,683 30,864,750
Other Assets 54,223 224,136 326,264 360,109 347,866
18,000
Total Assets 26,579,084 30,792,884 34,314,666 38,153,119 44,226,896
Growth (%) 15.85% 11.44% 11.19% 15.92% 9,000

Growth (%) 6.83% 3.60% 15.04% 27.45%
Paid up Capital 593,152 593,152 593,152 593,152 593,152 27,441
100 100 100 100 100 21,804

Par Value
24,337

18,100
Total Equity 18,164,855 21,803,976 25,002,452 27,440,798 30,574,391

Growth (%) 20.03% 14.67% 9.75% 11.42% 11,863
Total Revenues 19,598,248 24,501,241 26,987,035 26,948,004 26,134,306

Growth (%) 25.02% 10.15% -0.14% -3.02%
-611
2012 2013 2014 2015 2016
Cost of Revenues 10,300,667 13,557,147 15,388,431 16,302,008 16,278,434

Gross Profit 9,297,581 10,944,094 11,598,604 10,645,996 9,855,872
Expenses (Income) 3,116,058 4,023,694 4,507,838 4,795,073 4,771,251
Operating Profit 6,181,524 - - - - 26,987 26,948 26,134
26,987
24,501
Growth (%)
21,482 19,598
Other Income (Expenses) 105,931 - - - -
Tax 1,360,814 1,566,101 1,517,189 1,325,482 549,585

10,471
Growth (%) 8.68% 4.10% -18.81% 0.21%

4,966
Current Ratio (%) 170.59 188.24 220.90 159.70 127.25
5,574
5,354
Dividend (Rp) 367.74 407.42 375.34 304.91 -
4,927
5,574
EPS (Rp) 817.20 905.37 938.35 762.28 762.30 4,525 4,535

BV (Rp) 3,062.43 3,675.95 4,215.18 4,626.27 5,154.56 4,437
DAR (X) 0.32 0.29 0.27 0.28 0.31

0.46 0.41 0.37 0.39 0.45
3,300
DER(X)
ROA (%) 18.54 17.39 16.24 11.86 10.25 2,163
ROE (%) 27.12 24.56 22.29 16.49 14.83

GPM (%) 47.44 44.67 42.98 39.51 37.71 1,026
OPM (%) 31.54 - - - -

NPM (%) 25.14 21.85 20.65 16.79 17.35
-111
2012 2013 2014 2015 2016

Payout Ratio (%) 45.00 45.00 40.00 40.00 -
Yield (%) 2.32 2.88 2.32 2.67 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
SMRA
SUMMARECON AGUNG TBK.
Company Profile
PT Summarecon Agung Tbk. was founded in 1975 to undertake real estate construction
and development. The Companys scope of activities engaged in the field of real estate
development as well as supporting facilities and operating within the services and trade.
Currently, the scope of the company's business is engaged in the sales / leasing of real
estate, shopping centers, office facilities, as well as a means supporting. The Company
started commercial operations in 1976. PT Semarop Agung was the last of the parent
entityoftheCompany.
Summarecon'sbusinessunitsarenowgroupedintothreedistinctactivities:
1. PropertyDevelopment
Property Development is Summarecon's core business. This business unit develops
propertyproductsforsalesuchasresidentialhouse,apartment,landplotsandcommercial
shoplots. These property projects are integral to the development of a township's
residential and commercial development and include supporting facilities such as
educationfacilities,sportsandrecreation,placesofworshipandhealthcarefacilities.
2. PropertyInvestmentandManagement
Thisbusinessunitdevelopspropertieswhichareretainedandleasedout,particularlyretail
shopping malls. The revenue stream from shopping malls and other rental properties
provide stable and consistent recurring incomes to the company. In each township
developmentisanareadesignatedasacentralbusinessdistrictwhereinashoppingmall
willprovideforfullrangeoffacilitiesthatmeetstheneedsofmodernsociety.
3. Leisure,HospitalityandOthers
Summarecon is also developing other properties including offices which are intended for
own corporate use, hotels and residential buildings to further support facilities in its
township.
To ensure the availabilty of readytodevelop land, company has been continuously
acquiring land for potential future developments in existing locations and in any new
strategic/potential locations. Our current available landbank are more than 1,500 ha
(existing and new location). Company also strengthening the business portfolio by
developingtheinvestmentproperties,leisureandhospitalitythatwillprovideaconsistent
stream of recurring revenues. The Company and Subsidiaries had 2,360 permanent
employeesatSeptember30th,2016.
February 2017
Disclaimer:

SMRA Summarecon Agung Tbk. [S]
57 | 18.9T | 0.33% | 76.04%
35 | 11.2T | 0.60% | 68.69%

Established Date : 26-Nov-1975 1. PT Semarop Agung 1,855,985,872 : 12.86%
Listing Date : 07-May-1990 2. PT Semarop Agung 1,812,802,632 : 12.57%
Under Writer IPO : 3. PT Sinarmegah Jayasentosa 942,080,224 : 6.53%
PT Danareksa Sekuritas 4. BNYMSANV RE AMS RE STICHTING D 810,000,000 : 5.61%
PT Multicor 5. Public (<5%) 9,005,912,952 : 62.42%
PT Sirca Datapro Perdana DIVIDEND ANNOUNCEMENT
Jln. Johar No. 18 Bonus Cash Recording Payment
F/I
Menteng, Jakarta 10340 Year Shares Dividend Cum Date Ex Date Date Date
Phone : (021) 314-0032, 390-5920, 390-0645 1990 194.00 31-May-91 03-Jun-91 10-Jun-91 25-Jul-91 F
Fax : (021) 314-0185, 390-0652, 390-0671 1991 142.00 16-Jul-92 17-Jul-92 24-Jul-92 24-Aug-92 F
1992 60.00 13-Jul-93 14-Jul-93 21-Jul-93 31-Jul-93 F
1. Soetjipto Nagaria 1993 2:1 16-Feb-94 17-Feb-94 24-Feb-94 23-Mar-94 B
2. Edi Darnadi *) 1993 50 : 3 62.00 22-Jul-94 25-Jul-94 01-Aug-94 01-Sep-94 F
3. Esther Melyani Homan *) 1994 2:1 125.00 15-Dec-94 16-Dec-94 23-Dec-94 16-Jan-95 I
4. Harto Djojo Nagaria 1994 89.00 21-Jul-95 24-Jul-95 01-Aug-95 30-Aug-95 F
*) Independent Commissioners 1995 100 : 4 20.00 09-Jul-96 10-Jul-96 18-Jul-96 16-Aug-96 F
1996 11.00 28-Jul-97 29-Jul-97 06-Aug-97 04-Sep-97 F
BOARD OF DIRECTORS 1996 100 : 3 28-Jul-97 29-Jul-97 06-Aug-97 04-Sep-97 S
1. Adrianto Pitoyo Adhi 2000 25.00 24-Jul-01 25-Jul-01 01-Aug-01 20-Aug-01 F
2. Ge Lilies Yamin 2001 30.00 15-Jul-02 16-Jul-02 19-Jul-02 02-Aug-02 F
3. Herman Nagaria 2001 10 : 1 15-Jul-02 16-Jul-02 19-Jul-02 02-Aug-02 F
4. Lexy Arie Tumiwa 2002 10.00 15-Jul-03 16-Jul-03 18-Jul-03 21-Jul-03 F
5. Liliawati Rahardjo 2003 15.00 16-Jul-04 19-Jul-04 21-Jul-04 04-Aug-04 F
6. Sharif Benyamin 2005 18.00 18-Jul-05 19-Jul-05 20-Jul-05 03-Aug-05
7. Soegianto Nagaria 2005 15.00 13-Jul-06 14-Jul-06 18-Jul-06 01-Aug-06 F
8. Yong King Ching 2005 5:2 13-Jul-06 14-Jul-06 18-Jul-06 01-Aug-06 S
2006 13.00 08-Jun-07 11-Jun-07 13-Jun-07 27-Jun-07 I
AUDIT COMMITTEE 2007 11.00 21-May-08 22-May-08 26-May-08 09-Jun-08 F
1. Edi Darnadi 2008 3.00 30-Jun-09 01-Jul-09 03-Jul-09 17-Jul-09 F
2. Leo A. Mancianno 2009 8.00 27-May-10 31-May-10 02-Jun-10 15-Jun-10 F
3. Neneng Martini 2010 10.00 28-Jun-11 30-Jun-11 04-Jul-11 18-Jul-11 F
2011 23.00 27-Jun-12 28-Jun-12 02-Jul-12 16-Jul-12 F
CORPORATE SECRETARY 2012 1:1 43.00 26-Jun-13 27-Jun-13 01-Jul-13 15-Jul-13 B
Michael Yong 2013 23.00 10-Jul-14 11-Jul-14 15-Jul-14 05-Aug-14 F
2015 5.00 30-Jun-16 01-Jul-16 12-Jul-16 27-Jul-16 F
HEAD OFFICE
Plaza Summarecon, Jln. Perintis Kemerdekaan No. 42 ISSUED HISTORY
Jakarta Timur 13210 Listing Trading
Phone : (021) 489-2107, 471-4567 No. Type of Listing Shares Date Date
Fax : (021) 489-2976, 471-4486 1. First Issue 6,667,000 07-May-90 07-May-90
2. Partial Listing 16,666,700 26-Jan-94 26-Jan-94
Homepage : www.summarecon.com 3. Bonus Shares 11,282,833,556 T: 24-Mar-94 : 15-Jul-13
Email : corp_secretary@summarecon.com 4. Stock Dividend 6,000,000 12-Sep-94 12-Sep-94
5. Company Listing 64,999,300 17-Jan-95 17-Jan-95
6. Stock Dividen 50,345,760 T: 19-Aug-96 : 02-Aug-02
7. Stock Split 1,664,183,040 T: 11-Nov-96 : 12-Aug-02
8. Additional Listing without RI 433,926,000 T: 17-Nov-05 : 23-Oct-12
9. Right Issue 459,014,453 25-Jul-07 25-Jul-07
10. Warrant 442,145,871 T: 17-Jan-08 : 25-Jun-10

SMRA Summarecon Agung Tbk. [S]
TRADING ACTIVITIES
Summarecon Agung Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
2,000 720 Jan-13 1,950 1,710 1,890 17,801 305,075 560,276 21
Feb-13 2,500 1,860 2,325 15,874 289,483 603,334 20
1,750 630 Mar-13 2,525 2,150 2,475 11,644 264,854 626,267 19
Apr-13 2,675 2,150 2,600 14,632 373,884 882,856 22
May-13 3,050 2,550 2,800 18,664 314,882 885,175 22
1,500 540
Jun-13 2,825 1,150 1,290 25,478 422,548 991,867 19
Jul-13 1,320 940 1,000 35,902 1,100,648 1,152,747 23
1,250 450
Aug-13 1,070 660 780 27,271 870,003 779,300 17
Sep-13 1,050 690 930 29,817 1,024,278 909,108 21
1,000 360 Oct-13 1,140 880 1,050 30,037 896,981 898,351 21
Nov-13 1,080 780 900 19,911 566,805 507,534 20
750 270 Dec-13 960 750 780 14,769 369,297 319,726 19
500 180 Jan-14 980 745 955 27,739 484,736 434,071 20

Feb-14 1,085 910 1,005 32,185 680,056 676,697 20
250 90 Mar-14 1,180 980 1,065 27,115 528,787 573,389 20
Apr-14 1,150 940 1,110 26,857 587,245 633,586 20
May-14 1,305 1,080 1,255 19,968 420,392 515,282 18
Jun-14 1,270 1,090 1,135 21,300 275,513 325,634 21
Jul-14 1,405 1,095 1,350 41,560 757,675 977,499 18
Aug-14 1,415 1,270 1,340 32,205 483,471 646,706 20
Sep-14 1,350 1,195 1,220 40,295 662,162 836,334 22
120%
Jan-15 1,760 1,470 1,650 40,621 660,999 1,064,832 21
100% Feb-15 1,880 1,605 1,815 33,126 505,458 887,016 19
Mar-15 1,835 1,585 1,720 64,624 1,055,330 1,768,316 22
80% Apr-15 1,975 1,705 1,780 120,547 998,159 1,851,732 21
May-15 2,000 1,735 1,975 93,826 1,677,754 3,207,244 19
60% Jun-15 1,975 1,560 1,635 67,292 728,188 1,287,622 21
59.7%
Jul-15 1,815 1,600 1,740 45,986 341,149 585,689 19
Aug-15 1,830 1,385 1,620 53,561 390,321 624,401 20
40% 40.9%
Sep-15 1,640 950 1,120 78,406 894,023 1,149,029 21
Oct-15 1,695 1,095 1,395 63,272 811,318 1,134,834 21
20% 21.8%
Nov-15 1,620 1,325 1,550 63,590 767,749 1,124,852 21
Dec-15 1,665 1,415 1,650 44,026 360,941 561,552 19
-
Jan-16 1,645 1,405 1,445 49,545 566,338 855,165 20

-20% Feb-16 1,685 1,375 1,595 45,420 557,394 863,654 20
Mar-16 1,760 1,560 1,585 47,676 611,816 1,008,800 21
-40% Apr-16 1,700 1,470 1,565 49,170 646,120 1,017,908 21
Jun-16 1,825 1,540 1,810 52,330 721,673 1,232,400 22
Jul-16 1,900 1,650 1,695 57,492 616,055 1,089,325 16
Days 244 242 244 246 21 Dec-16 1,500 1,250 1,325 31,101 277,803 384,597 20
Price (Rupiah) Jan-17 1,420 1,280 1,310 35,634 275,678 371,710 21

High 3,050 1,615 2,000 1,970 1,420
Low 660 745 950 1,225 1,280
Close 780 1,520 1,650 1,325 1,310
Close* 780 1,520 1,650 1,325 1,310
PER (X) 10.21 18.61 27.84 248.83 246.02

PER Industry (X) 9.57 16.29 13.36 24.89 28.26
PBV (X) 2.42 4.00 3.16 2.48 2.45

SMRA SummareconAgungTbk.[S]
Receivables 138,931 275,967 85,514 152,036 406,270

16,000
Inventories 2,819,764 3,058,266 3,103,252 4,924,807 5,035,200

12,000
Investment 3,699 284,282 - - -
Fixed Assets 282,418 351,832 366,762 420,472 403,264
8,000
Other Assets - 67,756 144,088 167,750 175,516
Total Assets 10,876,387 13,659,137 15,379,479 18,758,262 19,880,462 4,000
Growth (%) 25.59% 12.59% 21.97% 5.98%
-
Growth (%) 27.48% 4.28% 19.62% 8.36%
7,530
Paid up Capital 721,339 1,442,678 1,442,678 1,442,678 1,442,678 5,993

6,140
4,658
Par Value 100 100 100 100 100
3,815
2,171,202 2,963,203 4,029,681 4,545,366 4,549,277
4,566
Retained Earnings
Total Equity 3,815,400 4,657,667 5,992,636 7,529,750 7,713,242 2,993
Growth (%) 22.08% 28.66% 25.65% 2.44%

1,419

Total Revenues 3,463,163 4,093,789 5,333,593 5,623,561 3,613,953
-154
2012 2013 2014 2015 Sep-16

Growth (%) 18.21% 30.28% 5.44%
Cost of Revenues 1,871,176 1,943,287 2,545,542 2,716,756 1,969,589

Gross Profit 1,591,987 2,150,503 2,788,051 2,906,805 1,644,363
Operating Expenses 581,085 803,365 929,013 1,115,408 809,530 5,624
5,334
1,010,901 1,347,138 1,859,038 1,791,397 834,833
5,624
Operating Profit
Growth (%) 33.26% 38.00% -3.64% 4,476 4,094
3,463 3,614
Income before Tax 986,395 1,319,425 1,684,099 1,382,183 452,266

Tax 194,309 223,537 296,582 318,103 202,061
2,182
Profit for the period 792,086 1,095,888 1,387,517 1,064,080 250,197

Growth (%) 38.35% 26.61% -23.31%
1,035
-112
Period Attributable 797,814 1,102,177 1,398,294 855,186 57,615 2012 2013 2014 2015 Sep-16
Comprehensive Income 792,086 1,095,888 1,387,517 1,086,441 268,626
Comprehensive Attributable 787,814 1,102,177 1,398,294 877,547 76,045
Dividend (Rp) 43.00 23.00 - 5.00 - 1,388
EPS (Rp) 109.81 75.96 96.18 73.76 17.34 1,096 1,064

BV (Rp) 528.93 322.85 415.38 521.93 534.65 1,104
DAR (X) 0.65 0.66 0.61 0.60 0.61 792

DER(X) 1.85 1.93 1.57 1.49 1.58
821
ROA (%) 7.28 8.02 9.02 5.67 1.26 538
ROE (%) 20.76 23.53 23.15 14.13 3.24

250
GPM (%) 45.97 52.53 52.27 51.69 45.50 255
OPM (%) 29.19 32.91 34.86 31.86 23.10

NPM (%) 22.87 26.77 26.01 18.92 6.92
-28
2012 2013 2014 2015 Sep-16

Payout Ratio (%) 39.16 30.28 - 6.78 -
Yield (%) 2.45 1.31 - 0.28 -

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
SRIL
SRI REJEKI ISMAN TBK.
Company Profile

PTSriRejekiIsmanTbk.wasestablisheddatedMay22,1978inSurakarta.Thescopeof
majoractivitiesoftheCompanyconsistsofspinning,weaving,dyeing,printing,finishingof
fabricandmanufacturingofgarments.TheCompanystarteditscommercialoperationsin
1978.

TheCompanysvisionistobethelargest,mostreputableandtrustedglobaltextileand
garment producer. The Biggest Integrated Vertical Textile Garment Producer In South
EastAsia.Sritexhasachievedaglobalrecognition&serves55countriesworldwide

Sritex, currently exports 48 percent of its products to around 30 countries in Asia,
including Papua New Guinea and Timor Leste, the Middle East, including the UAE and
Qatar, Europe, including Germany, Sweden, Norway and the Netherlands, the US and
Africa.Forfurtherexpandmarket,Sritexwillexporttoatleastfivemorecountriesina
bidtoboostitstotalrevenuesbyaminimum10percentthisyear.

Sritexs versatility has enabled it to penetrate the international fashion market with its
topnotchinternationalhighfashionclienteleofmorethan100householdnamebrands.
Sritexsclientlistincludeprominentplayersinthefashionsceneallacrosstheglobe,from
childrens lines, retailers such as Walmart and Sears, to big fashion lines such as Guess,
H&Mandmanymore.Highqualitytranslatestohighcustomerretention,alotofSritexs
customerreturnstoSritexandbecomespartnerstodeveloptheirproductsanddesign.

Ecological protection is the key driver behind Sritexs innovation on waste water
treatment. Sritex continuously improves its technologies of waste water treatment in
aiding the process of residual waste and to ensure its accordance to the international
environmentalregulations.
The Company have 2 direct ownership subsidiaries, PT Sinar Pantja Djaja Indonesia,
GoldenLegacyPte.Ltd.Singapore,andGoldenMountainTextileandTradingPte.Ltd.
Singapore.AsofDecember31st,2016,theCompanyanditsSubsidiaryhadatotalnumber
of17,890employees.
February 2017
Disclaimer:

SRIL Sri Rejeki Isman Tbk.
Industry Sector : Miscellaneous Industry (4) Listed Shares : 18,592,888,040
Industry Sub Sector : Textile, Garment (43) Market Capitalization : 4,313,550,025,280
171 | 4.31T | 0.08% | 93.19%
47 | 8.92T | 0.48% | 75.27%

Established Date : 22-May-1978 1. PT Huddleston Indonesia 10,425,274,040 : 56.07%
Listing Date : 17-Jun-2013 2. Public (<5%) 8,167,614,000 : 43.93%
Under Writer IPO :
F/I
PT Adimitra Jasa Korpora Year Shares Dividend Cum Date Ex Date Date Date
Rukan Kirana Boutique Office 2013 2.00 30-Jun-14 01-Jul-14 03-Jul-14 18-Jul-14 F
Jln. Kirana Avenue III Blok F3 No. 5, Kelapa Gading, Jakarta Utara 2014 5.38 06-Jul-15 07-Jul-15 09-Jul-15 31-Jul-15 F
Phone : (021) 2974-5222 2015 3.00 25-May-16 26-May-16 30-May-16 17-Jun-16 F
Fax :
ISSUED HISTORY
BOARD OF COMMISSIONERS Listing Trading
1. Susyana Lukminto No. Type of Listing Shares Date Date
2. Sudjarwadi *) 1. First Issue 5,600,000,000 17-Jun-13 17-Jun-13
3. Megawati 2. Company Listing 12,992,888,040 17-Jun-13 17-Jun-13
BOARD OF DIRECTORS
1. Iwan Setiawan
2. Allan Moran Severino
3. Arief Halim
4. Eddy Prasetyo Salim
5. Iwan Kurniawan Lukminto
6. M. Nasir Tamara Tamimi
7. Phalguni Mukhopadyay
AUDIT COMMITTEE
1. Sudjarwadi
2. Lda Bagus Oka Nila
3. Yose Rizal
CORPORATE SECRETARY
Welly Salam
HEAD OFFICE
Jln. K.H. Samanhudi 88
Jetis, Sukoharjo
Jawa Tengah
Phone : (0271) 593488; 3809115; 3100996; (021) 3809115;
Fax : (0271) 593-488
Homepage : www.sritex.co.id
Email : welly.salam@sritex.co.id
welly_salam@yahoo.com
istanto@sritex.co.id

TRADING ACTIVITIES
Sri Rejeki Isman Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
Price* June 2013 - January 2017 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
480 3,200 Jun-13 290 200 240 4,338 3,348,240 805,220 10
Jul-13 240 196 240 2,927 410,603 89,744 23
420 2,800 Aug-13 330 225 275 9,513 1,311,972 351,578 17
Sep-13 305 235 245 7,534 872,011 227,117 21
Oct-13 290 240 265 5,520 606,148 161,184 21
360 2,400
Nov-13 275 240 250 5,281 713,199 185,761 20
Dec-13 275 225 245 5,400 651,303 159,427 19
300 2,000
Jan-14 303 230 296 9,644 905,583 240,642 20

240 1,600
Feb-14 296 241 257 15,670 948,067 249,258 20
Mar-14 291 182 222 48,617 2,164,168 482,506 20
180 1,200 Apr-14 230 186 190 43,182 734,908 149,198 20
May-14 219 190 204 21,379 803,788 164,944 18
120 800 Jun-14 210 173 179 11,540 309,003 59,782 21
Jul-14 186 150 157 14,895 484,811 81,768 18
60 400 Aug-14 178 152 152 22,042 784,219 127,886 20
Sep-14 167 127 129 35,591 1,391,467 195,194 22
Oct-14 173 120 167 22,637 1,145,391 168,265 23
Nov-14 182 140 172 36,199 1,935,546 311,164 20
Jun-13 Jun-14 Jun-15 Jun-16
Dec-14 172 151 163 31,612 979,420 158,637 20
Jan-15 180 149 155 26,148 1,994,729 315,639 21

Closing Price*, Jakarta Composite Index (IHSG) and Feb-15 166 148 153 28,613 2,051,613 319,408 19
Miscellaneous Industry Index Mar-15 270 152 229 167,822 8,131,661 1,742,646 22
June 2013 - January 2017 Apr-15 279 229 271 112,951 7,701,622 1,977,162 21
100% May-15 350 271 339 114,262 3,327,174 1,073,958 19
Jun-15 349 269 303 104,878 2,929,507 934,877 21
80% Jul-15 497 304 470 231,373 8,903,014 3,580,929 19
Aug-15 495 283 325 244,239 6,980,305 2,660,259 20
60% Sep-15 417 316 384 93,795 2,335,340 844,763 21
Oct-15 417 366 379 50,890 918,404 362,221 21
40% Nov-15 398 323 372 49,201 727,982 269,862 21
Dec-15 395 350 389 78,428 1,176,910 450,095 19
20%
Jan-16 417 256 266 162,832 3,099,188 1,029,980 20
10.9%
4.9% 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
-7.2%
Apr-16 324 286 288 61,737 1,966,921 594,820 21
-20% May-16 296 250 272 60,798 2,110,777 572,625 20
Jun-16 288 254 260 58,820 1,942,871 520,227 22
-40% Jul-16 284 256 264 37,770 1,499,067 406,218 16
Aug-16 302 252 256 66,852 3,068,648 849,865 22
-60% Sep-16 268 208 208 60,467 2,528,685 609,492 21
Jun 13 Jun 14 Jun 15 Jun 16 Oct-16 270 204 254 165,892 6,078,641 1,455,597 21
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
SHARES TRADED 2013 2014 2015 2016 Jan-17
Volume (Million Sh.) 7,913 12,586 47,178 34,313 2,906 Jan-17 262 224 232 104,866 2,905,948 701,102 21
Value (Billion Rp) 1,980 2,389 14,532 9,245 701
Frequency (Thou. X) 41 313 1,303 1,113 105
Days 131 242 244 246 21
Price (Rupiah)
High 330 303 497 417 262
Low 196 120 148 204 224
Close 245 163 389 230 232
Close* 245 163 389 230 232
PER (X) 14.71 8.58 9.42 5.50 5.54

PER Industry (X) 13.91 14.44 0.95 13.86 13.68
PBV (X) 1.96 1.19 1.89 1.07 1.08

Public Accountant : Tanubrata Sutanto Fahmi Bambang & Rekan (Member of BDO International Limited)
Cash & Cash Equivalents 74,440 1,014,831 1,130,591 812,707 13,750
Receivables 741,126 1,607,225 1,497,681 2,009,497

1,458,638 1,362,611 1,990,249 1,983,368 11,000
Inventories
Current Assets 2,342,148 4,005,530 4,736,230 5,079,147
8,250
Fixed Assets 3,047,672 4,011,821 6,461,933 6,977,375
Other Assets 15,982 51,636 - -
5,500
Total Assets 5,590,982 8,691,096 11,481,513 12,726,172
Growth (%) 55.45% 32.11% 10.84% 2,750
Current Liabilities 2,232,337 751,756 984,296 1,659,721 -

Long Term Liabilities 1,039,045 5,041,546 6,441,022 6,617,664 2013 2014 2015 2016
Total Liabilities 3,271,382 5,793,302 7,425,318 8,277,385
Growth (%) 77.09% 28.17% 11.48%
Authorized Capital 5,000,000 5,000,000 5,000,000 5,000,000 4,449
Paid up Capital 1,859,289 1,859,289 1,859,289 1,859,289 4,449
4,056
Paid up Capital (Shares) 18,593 18,593 18,593 18,593
Par Value 100 100 100 100
3,541
2,898
Retained Earnings 333,784 945,521 1,792,408 2,386,770
2,634 2,320
Total Equity 2,319,599 2,897,795 4,056,195 4,448,787
Growth (%) 24.93% 39.98% 9.68% 1,726
Total Revenues 4,714,576 6,897,287 9,116,561 9,135,667

Growth (%) 46.30% 32.18% 0.21%
-89
2013 2014 2015 2016
Cost of Revenues 3,696,164 5,374,885 7,161,091 7,182,731

Gross Profit 1,018,412 1,522,402 1,955,470 1,952,936
Expenses (Income) 350,516 348,920 517,779 401,716
Operating Profit 667,896 1,173,481 1,437,692 1,551,220 9,117 9,136
75.70% 22.52% 7.90%

9,136
Growth (%)
7,272
6,897
Other Income (Expenses) -205,071 -353,213 -491,074 -664,070

Income before Tax 462,825 820,269 946,618 887,149 5,408
4,715
Tax 133,657 192,022 130,752 89,512
Profit for the period 309,603 628,210 815,866 797,637
3,545
Growth (%) 102.91% 29.87% -2.23%

1,681
Period Attributable 309,603 556,631 815,824 797,637 -183
Comprehensive Income 309,603 556,594 810,329 784,496 2013 2014 2015 2016
Comprehensive Attributable 309,603 556,631 810,281 784,496
Current Ratio (%) 104.92 532.82 481.18 306.02
816 798
Dividend (Rp) 2.00 5.38 3.00 - 816
EPS (Rp) 16.65 29.94 43.88 42.90 628

BV (Rp) 124.76 155.86 218.16 239.27 649
DAR (X) 0.59 0.67 0.65 0.65

1.41 2.00 1.83 1.86
483
DER(X)
310
ROA (%) 5.54 7.23 7.11 6.27 317
ROE (%) 13.35 21.68 20.11 17.93

GPM (%) 21.60 22.07 21.45 21.38 150
OPM (%) 14.17 17.01 15.77 16.98

NPM (%) 6.57 9.11 8.95 8.73
-16
2013 2014 2015 2016

Payout Ratio (%) 12.01 17.97 6.84 -
Yield (%) 0.82 3.30 0.77 -

COMPANY REPORT
SSMS
SAWIT SUMBERMAS SARANA TBK.
Company Profile

PT Sawit Sumbermas Sarana Tbk. was established in Jakarta dated November 22, 1995.
ThescopeofCompanysactivitiesisagriculture,trade,andindustry.

The Company commenced its commercial operations in 2005. The company is primarily
involvedintheoperationsofoilpalmplantationsandapalmoilmillwhichproducescrude
palmoilandpalmkernelwithprocessingcapacitiesof90MToffreshfruitbunches(FFB)
perhour.OnApril12,2013,theCompanyhasstartedtheproductionofthesecondpalm
oilmillwithprocessingcapacitiesof60MTperhour.Theoilpalmplantationandbothpalm
oilmillarelocatedinArutSelatan,KotawaringinBarat,CentralKalimantan.

As of September 30th, 2016, the Company and its subsidiaries had 5,225 permanent
employees.

TheCompanyhasdirectandindirectownershipinterestsintheconsolidatedsubsidiaries,
areasfollows:
PTKalimantanSawitAbadi,
PTMitraMendawaiSejati,
PTTanjungSawitAbadi,
PTSawitMultiUtama,
PTMirzaPratama,
PTMentengKencana,
PTSawitMandiriLestari,
PTAhmadSaleh.

February 2017
Disclaimer:

SSMS SawitSumbermasSaranaTbk.[S]
67 | 15.4T | 0.27% | 78.93%
15 | 24.1T | 1.29% | 50.75%

Established Date : 22-Nov-1995 1. PT Citra Borneo Indah 2,931,197,000 : 30.77%
Listing Date : 12-Dec-2013 2. PT Mandiri Indah Lestari 1,300,000,000 : 13.65%
Under Writer IPO : 3. PT Prima Sawit Borneo 1,300,000,000 : 13.65%
PT BNP Paribas Securities Indonesia 4. Falcon Private Bank Ltd. 802,500,000 : 8.43%
PT Mandiri Sekuritas 5. PT Putra Borneo Agro Lestari 564,881,100 : 5.93%
PT RHB OSK Securities Indonesia 6. Public (<5%) 2,626,421,900 : 27.57%
PT Datindo Entrycom DIVIDEND ANNOUNCEMENT
Wisma Sudirman - Puri Datindo Bonus Cash Recording Payment
F/I
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 Year Shares Dividend Cum Date Ex Date Date Date
BOARD OF COMMISSIONERS ISSUED HISTORY

1. Bungaran Saragih Listing Trading
2. Marzuki Usman No. Type of Listing Shares Date Date
3. Rimbun Situmorang 1. First Issue 1,500,000,000 12-Dec-13 12-Dec-13
*) Independent Commissioners 2. Company Listing 8,025,000,000 12-Dec-13 12-Dec-13
BOARD OF DIRECTORS
1. Vallauthan Subraminam
2. Ramzi Sastra
3. Nicholas Justin Whittle
AUDIT COMMITTEE
1. Marzuki Usman
2. Wahyudi Susanto
3. Zulfitry Ramdan
CORPORATE SECRETARY
Deni A. Damayanto
HEAD OFFICE
Equity Tower 43rd Fl., Suite 43 D, SCBD Lot. 9
Jln. Jend. Sudirman Kav. 52-53
Jakarta 12190
Phone : (021) 2903-5401
Fax : (021) 2903-5405
Homepage : www.ssms.co.id
Email : corporate@ssms.co.id
deni@ssms.co.id

SSMS Sawit Sumbermas Sarana Tbk. [S]
TRADING ACTIVITIES
Sawit Sumbermas Sarana Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
Price* December 2013 - January 2017 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
2,400 1,600 Dec-13 850 670 820 40,829 1,031,455 790,493 11
2,100 1,400 Jan-14 940 780 840 90,546 1,525,166 1,313,401 20

Feb-14 1,000 795 995 124,186 1,968,412 1,819,170 20
Mar-14 1,105 970 1,035 151,752 2,801,526 2,882,007 20
1,800 1,200
Apr-14 1,215 1,035 1,200 124,281 1,499,197 1,678,780 20
May-14 1,330 1,185 1,245 109,941 1,336,469 1,694,579 18
1,500 1,000
Jun-14 1,305 1,230 1,245 138,806 853,528 1,084,394 21
Jul-14 1,290 1,130 1,265 96,713 850,674 1,029,194 18
1,200 800
Aug-14 1,360 1,245 1,305 95,927 994,842 1,280,910 20
Sep-14 1,450 1,255 1,265 191,666 1,626,852 2,252,941 22
900 600 Oct-14 1,285 970 1,245 132,232 1,118,780 1,343,498 23
Nov-14 1,490 1,105 1,460 121,970 1,046,976 1,364,530 20
600 400 Dec-14 1,700 1,430 1,665 73,625 953,444 1,460,547 20
300 200 Jan-15 1,735 1,605 1,650 106,690 964,382 1,624,413 21

Feb-15 2,005 1,635 1,985 96,459 880,303 1,547,313 19
Mar-15 2,040 1,950 1,990 90,903 1,051,135 2,095,972 22
Apr-15 2,185 1,855 1,900 81,703 1,050,938 2,146,096 21
Dec-13 Dec-14 Dec-15 Dec-16
May-15 2,425 1,895 2,350 74,128 1,594,465 3,350,131 19
Jun-15 2,350 1,755 1,845 74,060 1,405,027 2,645,755 21
Jul-15 2,035 1,830 1,965 84,049 2,452,024 4,652,566 19
Closing Price*, Jakarta Composite Index (IHSG) and Aug-15 1,980 1,560 1,615 57,854 1,261,217 2,300,148 20
Agriculture Index Sep-15 1,735 1,520 1,615 113,300 1,334,266 2,185,068 21
December 2013 - January 2017 Oct-15 2,050 1,620 1,900 142,293 1,408,432 2,616,336 21
245% Nov-15 1,970 1,555 1,580 113,733 1,563,679 2,706,985 21
Dec-15 2,050 1,555 1,950 101,789 1,696,965 2,861,298 19
210%
Jan-16 2,035 1,660 1,985 114,379 1,620,597 2,929,389 20
175% 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
140% Apr-16 1,945 1,850 1,855 93,911 1,181,990 2,247,539 21
125.0% May-16 1,915 1,585 1,760 63,293 1,054,475 1,922,908 20
Jun-16 1,895 1,765 1,880 52,538 1,381,553 2,538,561 22
105%
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
70%
Sep-16 1,735 1,545 1,555 63,437 850,400 1,397,735 21
Oct-16 1,585 1,440 1,520 63,513 1,320,217 2,006,126 21
35% Nov-16 1,540 1,300 1,370 79,071 1,230,427 1,766,536 22
25.7%
Dec-16 1,445 1,300 1,400 60,293 1,129,486 1,603,592 20
- -2.7%
Jan-17 1,635 1,320 1,620 61,137 940,683 1,410,453 21
-35%
Dec 13 Dec 14 Dec 15 Dec 16
SHARES TRADED 2013 2014 2015 2016 Jan-17

Volume (Million Sh.) 1,031 16,576 16,663 14,740 941
Value (Billion Rp) 790 19,204 30,732 25,571 1,410
Frequency (Thou. X) 41 1,452 1,137 950 61
Days 11 242 244 246 21
Price (Rupiah)
High 850 1,700 2,425 2,075 1,635
Low 670 780 1,520 1,300 1,320
Close 820 1,665 1,950 1,400 1,620
Close* 820 1,665 1,950 1,400 1,620
PER (X) 13.54 25.60 33.11 44.72 51.75

PER Industry (X) 15.46 19.34 -6.37 19.38 19.46
PBV (X) 3.37 5.78 6.12 4.19 4.85

SSMS SawitSumbermasSaranaTbk.[S]
Receivables 23,408 199,500 160,673 822,689 701,174

99,053 45,809 67,667 164,189 178,264 6,000
Inventories
Current Assets 545,163 1,957,546 2,300,594 1,732,968 1,376,740
4,500
Fixed Assets 651,905 593,891 596,197 2,298,868 2,336,170
Other Assets 86,850 250,512 241,486 48,678 36,558
3,000
Total Assets 2,113,611 3,701,917 4,032,885 6,973,851 6,669,827
Growth (%) 75.15% 8.94% 72.92% -4.36% 1,500
Current Liabilities 557,642 697,129 509,465 1,302,633 1,369,061 -

Long Term Liabilities 1,089,928 688,518 518,821 2,637,166 2,276,225 2012 2013 2014 2015 Sep-16
Growth (%) -15.90% -25.79% 283.14% -7.48%
3,005
Paid up Capital 412,500 952,500 952,500 952,500 952,500 3,034

Par Value 100 100 100 100 100
2,415
Retained Earnings 6,619 443,443 1,113,039 1,459,853 1,446,632

466,041 2,316,270 3,004,600 3,034,052 3,024,541
1,796
Total Equity
Growth (%) 397.01% 29.72% 0.98% -0.31% 1,177
466
INCOME STATEMENTS Dec-12 Dec-13 Dec-14 Dec-15 Sep-16 558
Total Revenues 1,880,275 1,962,435 2,180,673 2,371,878 1,739,490

Growth (%) 4.37% 11.12% 8.77%
-61
2012 2013 2014 2015 Sep-16
Cost of Revenues 891,088 949,458 1,027,885 1,123,966 970,378

Gross Profit 989,187 1,012,977 1,152,788 1,247,912 769,112
Expenses (Income) 113,249 74,648 219,724 362,403 226,174
Operating Profit 875,938 938,329 933,065 885,509 542,938 2,372
2,181
Growth (%) 7.12% -0.56% -5.10%
2,372
1,962
1,880
1,888 1,739
Other Income (Expenses) -110,764 -84,910 53,824 -110,060 -127,861
Income before Tax 765,173 853,419 986,889 775,449 415,077 1,404
Tax 203,478 221,750 249,059 188,305 128,451

Profit for the period 561,695 631,669 737,830 587,144 286,626 920
Growth (%) 12.46% 16.81% -20.42%

436
Period Attributable 473,980 576,824 719,097 -26,231 286,626 -47
Comprehensive Income 344,844 631,669 737,830 599,622 285,522 2012 2013 2014 2015 Sep-16
Comprehensive Attributable 337,535 576,824 719,097 -26,578 285,522
Current Ratio (%) 97.76 280.80 451.57 133.04 100.56
738
Dividend (Rp) - - 22.65 17.67 - 738
632
EPS (Rp) 114.90 60.56 75.50 -2.75 30.09 587
562
BV (Rp) 112.98 243.18 315.44 318.54 317.54 587
DAR (X) 0.78 0.37 0.25 0.56 0.55

DER(X) 3.54 0.60 0.34 1.30 1.21
437
287
ROA (%) 26.58 17.06 18.30 8.42 4.30 286
ROE (%) 120.52 27.27 24.56 19.35 9.48

GPM (%) 52.61 51.62 52.86 52.61 44.21 136
OPM (%) 46.59 47.81 42.79 37.33 31.21

NPM (%) 29.87 32.19 33.83 24.75 16.48
-15
2012 2013 2014 2015 Sep-16

Payout Ratio (%) - - 30.00 -641.50 -
Yield (%) - - 1.36 0.91 -

COMPANY REPORT
TLKM
TELEKOMUNIKASI INDONESIA
(PERSERO) TBK.
Company Profile
We are a stateowned enterprise that operates in the telecommunications and network

servicessectorinIndonesia.Wearesubjecttotheprevailinglawsandregulationsinthis
country.Givenitsstatusasastateownedenterprisewhosesharesaretradedonthestock
market, the Government of the Republic of Indonesia is the Companys majority
shareholder,whiletheremaindoftheCompanyscommonstockisownedbythepublic.
TheCompanyssharesaretradedontheIndonesiaStockExchange(IDX)andtheNewYork
StockExchange(NYSE).
As stated in our Articles of Association, our business is to provide telecommunications
networks and telecommunications and information services, and to optimize the
Companys resources. To attain the aforementioned objectives, the Company may
undertakebusinessactivitiesthatincorporatethefollowing:
1. MainBusiness
a. To plan, build, deliver, develop, operate, market or sell/lease, and maintain
telecommunications and information networksin the broadest sense with
respecttoprovisionsoflawsandregulations.
b. Toplan,develop,deliver,marketorsellandimprovetelecommunicationsand
information servicesin the broadest sense with respect to provisions of laws
andregulations.
2. SupportingBusiness
a. To provide payment transaction and remittance services via
telecommunicationsandinformationnetworks.
b. To carry out activities and other undertakings in respect of optimizing the
Companysresources,amongotherstheutilizationoftheCompanysproperty,
plant and equipment and movable assets, information system facilities,
educationandtrainingfacilitiesandmaintenanceandrepairfacilities.
The Company and its subsidiaries had a total of 23,876 employees as of December 31st,
2016.
February 2017
Disclaimer:

TLKM Telekomunikasi Indonesia (Persero) Tbk. [S]
Industry Sub Sector : Telecommunication (73) Market Capitalization : 390,095,986,068,000
2 | 390.1T | 6.79% | 14.58%
2 | 114.2T | 6.14% | 20.14%

Established Date : 24-Sep-1991 1. Negara Republik Indonesia 51,602,353,560 : 51.19%
Under Writer IPO :
F/I
PT Makindo Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1995 24.48 07-Jun-96 10-Jun-96 18-Jun-96 17-Jul-96 F
PT Datindo Entrycom 1996 41.25 13-May-97 14-May-97 23-May-97 20-Jun-97 F
Wisma Sudirman - Puri Datindo 1997 32.75 22-May-98 25-May-98 02-Jun-98 01-Jul-98 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 1997 15.75 23-Nov-98 24-Nov-98 02-Dec-98 30-Dec-98 F
Phone : (021) 570-9009 1998 35.69 24-May-99 25-May-99 02-Jun-99 01-Jul-99 F
Fax : (021) 570-9026 1998 50 : 4 24-Jun-99 25-Jun-99 05-Jul-99 02-Aug-99 B
1998 15.30 24-May-99 25-May-99 02-Jun-99 30-Dec-99 F
BOARD OF COMMISSIONERS 1999 53.88 26-Apr-00 27-Apr-00 05-May-00 22-May-00 F
1. Hendri Saparini 1999 53.88 09-Oct-00 10-Oct-00 18-Oct-00 01-Nov-00 F
2. Margiyono Darsasumarja *) 2000 44.08 31-May-01 01-Jun-01 07-Jun-01 21-Jun-01 I
3. Pamiyati Pamela Johana Waluyo *) 2000 44.08 10-Oct-01 11-Oct-01 17-Oct-01 31-Oct-01 F
4. Rinaldi Firmansyah *) 2001 210.82 24-Jul-02 25-Jul-02 30-Jul-02 12-Aug-02 F
5. Dolfie Othniel Fredric Palit 2002 331.16 03-Jun-03 04-Jun-03 06-Jun-03 12-Jun-03 F
6. Hadiyanto 2003 301.95 23-Aug-04 24-Aug-04 26-Aug-04 07-Sep-04 F
7. Pontas Tambunan 2004 7.11 23-Dec-04 27-Dec-04 29-Dec-04 06-Jan-05 I
*) Independent Commissioners 2005 144.90 15-Jul-05 18-Jul-05 20-Jul-05 03-Aug-05
2005 218.86 21-Jul-06 24-Jul-06 26-Jul-06 09-Aug-06 F
BOARD OF DIRECTORS 2006 48.45 21-Dec-06 22-Dec-06 27-Dec-06 02-Jan-07 I
1. Alex Janangkih Sinaga 2006 254.76 20-Jul-07 23-Jul-07 25-Jul-07 08-Aug-07 F
2. Abdus Somad Arief 2007 48.45 29-Nov-07 30-Nov-07 04-Dec-07 18-Dec-07 I
3. Dian Rachmawan 2007 309.42 11-Jul-08 14-Jul-08 16-Jul-08 31-Jul-08 F
4. Harry M. Zen 2007 97.73 09-Oct-08 10-Oct-08 14-Oct-08 28-Oct-08 F
5. Herdy Rosadi Harman 2008 296.94 07-Jul-09 08-Jul-09 10-Jul-09 27-Jul-09 F
6. Honesti Basyir 2009 26.65 09-Dec-09 10-Dec-09 14-Dec-09 29-Dec-09 I
7. Indra Utoyo 2009 261.41 07-Jul-10 08-Jul-10 12-Jul-10 26-Jul-10 F
8. Muhamad Awaluddin 2010 26.75 22-Dec-10 23-Dec-10 28-Dec-10 11-Jan-11 I
2010 295.84 13-Jun-11 14-Jun-11 16-Jun-11 01-Jul-11 F
AUDIT COMMITTEE 2011 371.05 05-Jun-12 06-Jun-12 08-Jun-12 22-Jun-12 F
1. Rinaldi Firmansyah 2012 436.10 29-May-13 30-May-13 03-Jun-13 18-Jun-13 F
2. Dolfie Othniel Fredric Palit 2013 102.40 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
3. Margiyono Darsasumarja 2015 94.64 29-Apr-16 02-May-16 04-May-16 26-May-16 F
4. Pontas Tambunan 2016 19.38 14-Dec-16 15-Dec-16 19-Dec-16 27-Dec-16 I
5. Sarimin Mietra Sardi
6. Tjatur Purwadi ISSUED HISTORY
Listing Trading
CORPORATE SECRETARY No. Type of Listing Shares Date Date
Andi Setiawan 1. Negara RI (Seri A) 1 14-Nov-95 -
2. Negara RI (Seri B) (C/ L) 7,466,665,999 14-Nov-95 -
HEAD OFFICE 3. First Issue 933,333,000 14-Nov-95 14-Nov-95
Graha Merah Putih 5th Fl. 4. First Issue (LN) 700,000,000 14-Nov-95 14-Nov-95
Jln. Gatot Subroto No. 52 5. First Issue (divesment) 233,334,000 14-Nov-95 14-Nov-95
Jakarta 6. Bonus Shares 746,666,640 03-Aug-99 03-Aug-99
Phone : (021) 521-5109 7. Stock Split 10,079,999,640 28-Sep-04 28-Sep-04
Fax : (021) 522-0500 8. Stock Split 86,247,402,484 28-Aug-13 28-Aug-13
Homepage : www.telkom.co.id
Email : andi.setiawan@telkom.co.id

TRADING ACTIVITIES
Telekomunikasi Indonesia (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
4,600 3,200 Jan-13 9,800 8,800 9,700 36,521 503,515 4,706,492 21
Feb-13 10,950 9,550 10,750 33,202 490,700 4,847,559 20
4,025 2,800 Mar-13 11,150 10,250 11,000 48,503 431,788 4,644,566 19
Apr-13 12,500 10,400 11,700 47,977 628,400 7,176,984 22
May-13 12,900 11,050 11,050 53,417 600,206 7,142,391 22
3,450 2,400
Jun-13 11,700 9,500 11,250 69,132 840,094 8,855,033 19
Jul-13 12,200 10,500 11,900 62,831 1,036,661 11,830,601 23
2,875 2,000
Aug-13 12,200 1,980 2,200 55,347 800,356 5,440,892 17
Sep-13 2,450 1,950 2,100 88,615 3,130,995 6,767,447 21
2,300 1,600
Oct-13 2,375 2,100 2,350 73,248 2,393,760 5,401,091 21
Nov-13 2,350 2,025 2,175 71,880 2,327,085 5,106,312 20
1,725 1,200 Dec-13 2,200 1,980 2,150 65,021 2,557,552 5,303,635 19
1,150 800 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
575 400 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
Jun-14 2,550 2,405 2,465 85,531 5,009,842 12,180,200 21
Jul-14 2,710 2,465 2,650 86,242 2,002,276 5,218,503 18
Aug-14 2,800 2,590 2,665 105,961 2,532,990 6,865,678 20
Sep-14 3,010 2,675 2,915 103,021 2,088,870 5,878,718 22
Closing Price*, Jakarta Composite Index (IHSG) and Oct-14 2,930 2,680 2,750 136,701 2,888,270 8,092,823 23
Infrastructure, Utilities and Transportation Index Nov-14 2,830 2,590 2,825 95,257 1,713,846 4,692,945 20
175%
Jan-15 2,930 2,780 2,830 89,423 1,809,529 5,148,840 21
150% Feb-15 3,020 2,800 2,935 110,113 2,270,639 6,527,476 19
Mar-15 2,995 2,770 2,890 119,901 2,438,708 7,127,764 22
125% Apr-15 2,910 2,595 2,615 117,916 2,712,082 7,596,492 21
116.2% May-15 2,895 2,620 2,845 108,012 2,139,833 6,010,790 19
100% 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
75%
Sep-15 2,875 2,485 2,645 108,224 1,393,722 3,782,598 21
Oct-15 2,830 2,600 2,680 118,031 1,786,848 4,869,451 21
50%
Nov-15 2,980 2,660 2,930 100,904 1,724,444 4,878,723 21
Dec-15 3,170 2,900 3,105 113,512 2,208,650 6,693,917 19
25% 21.8%
16.3%
Jan-16 3,385 3,045 3,340 134,592 2,367,503 7,527,167 20
- 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
-25% Apr-16 3,810 3,305 3,550 149,352 2,438,118 8,628,631 21
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
Volume (Million Sh.) 15,741 30,227 23,627 30,494 1,571 Sep-16 4,400 3,950 4,310 146,869 2,597,603 10,854,249 21
Value (Billion Rp) 77,223 75,841 67,354 115,531 6,187 Oct-16 4,400 4,120 4,220 94,353 1,877,248 7,938,634 21
Frequency (Thou. X) 706 1,187 1,341 1,692 104 Nov-16 4,300 3,640 3,780 185,349 3,064,343 12,205,850 22
Days 244 242 244 246 21 Dec-16 4,020 3,670 3,980 128,029 1,714,691 6,636,241 20
Price (Rupiah) Jan-17 4,030 3,780 3,870 104,153 1,570,645 6,187,403 21

High 12,900 3,010 3,170 4,570 4,030
Low 1,950 2,060 2,485 3,045 3,780
Close 2,150 2,865 3,105 3,980 3,870
Close* 2,150 2,865 3,105 3,980 3,870
PER (X) 15.26 18.92 20.21 20.42 19.86

PER Industry (X) 12.11 20.04 9.49 8.16 9.33
PBV (X) 2.80 3.57 3.35 4.23 4.11

Receivables 5,409,000 6,421,000 6,848,000 7,872,000 7,900,000

579,000 509,000 474,000 528,000 584,000 150,000
Inventories
Current Assets 27,973,000 33,075,000 33,762,000 47,912,000 47,701,000
112,500
Fixed Assets 77,047,000 86,761,000 94,809,000 103,700,000 114,498,000
Other Assets - - - - -
75,000
Total Assets 111,369,000 127,951,000 140,895,000 166,173,000 179,611,000
Growth (%) 14.89% 10.12% 17.94% 8.09% 37,500

Growth (%) 13.82% 8.40% 32.82% 1.82%
Paid up Capital 5,040,000 5,040,000 5,040,000 5,040,000 5,040,000 105,544
93,428
77,424
Par Value 250 50 50 50 50
84,013
66,978
62,482
Total Equity 66,978,000 77,424,000 86,125,000 93,428,000 105,544,000

Growth (%) 15.60% 11.24% 8.48% 12.97% 40,951
Total Revenues 77,143,000 82,967,000 89,696,000 102,470,000 116,333,000

Growth (%) 7.55% 8.11% 14.24% 13.53%
-2,111
2012 2013 2014 2015 2016
Gross Profit - - - - -
Expenses (Income) 51,445,000 55,121,000 60,319,000 70,052,000 77,138,000
8.36% 5.50% 10.35% 20.91% 102,470

116,333
Growth (%)
89,696
92,601
82,967
77,143
Other Income (Expenses) -1,470,000 -697,000 -593,000 -1,076,000 -1,006,000
Tax -5,866,000 6,859,000 7,338,000 8,025,000 9,017,000

45,137
Growth (%) 10.50% 5.70% 8.72% 25.11%

21,405
Current Ratio (%) 116.04 116.31 106.22 135.29 119.97
29,172
Dividend (Rp) 436.10 102.40 - 94.64 19.38 29,172
EPS (Rp) 637.40 140.92 145.22 153.66 171.93 23,317

21,446
BV (Rp) 3,322.32 768.10 854.41 926.87 1,047.06 23,221
20,290
18,362
DAR (X) 0.40 0.39 0.39 0.44 0.41
0.66 0.65 0.64 0.78 0.70
17,270
DER(X)
ROA (%) 16.49 15.86 15.22 14.03 16.24 11,319
ROE (%) 27.41 26.21 24.90 24.96 27.64

GPM (%) - - - - - 5,368
OPM (%) 33.31 33.56 32.75 31.64 33.69

NPM (%) 23.80 24.46 23.91 22.75 25.08
-583
2012 2013 2014 2015 2016

Payout Ratio (%) 68.42 72.66 - 61.59 11.27
Yield (%) 4.82 4.76 - 3.05 0.49

COMPANY REPORT
UNTR
UNITED TRACTORS TBK.
Company Profile

PTUnitedTractorsTbk.wasestablishedonOctober13th,1972,underthenameofPTInter
Astra Motor Works, as heavy equipment distributor in Indonesia. The Company
commencedcommercialoperationsin1973.

The principal activities of the Company and its subsidiaries include sales and rental of
heavyequipment(Constructionmachineries)andrelatedaftersalesservices,coalmining
and mining contracting. Included in mining contracting is integrated mining contracting
service.

TheCompanyiscontrolledbyitsimmediateparentcompanyPTAstraInternationalTbk.,a
company incorporated in Indonesia. PT Astra International Tbk's largest shareholder is
Jardine Cycle & Carriage Ltd, a company incorporated in Singapore. Jardine Cycle &
CarriageLtdisasubsidiaryofJardineMathesonHoldingsLtd,acompanyincorporatedin
Bermuda.

The Company is domiciled in Jakarta with 20 branches, 22 site offices and 10
representativeofficesthroughoutIndonesia.

Thecompanyhasdirectownershipindomesticandforeignsubsidiaries:
PTPamapersadaNusantara,
PTKaryaSupraPerkasa,
PTUnitedTractorsPanduEngineering,
PTBinaPertiwi,
UTHeavyIndustry(S)Pte.Ltd.,
PTAndalanMultiKencana,
PTUniversalTeknoReksajaya,
PTTambangSupraPerkasa,
PTUnitraPersadaEnergia.

AsofDecember31st,2016,theGrouphadapproximately27,071employees.
February 2017
Disclaimer:

UNTR UnitedTractorsTbk.[S]
Industry Sub Sector : Wholesale (Durable & Non-Durable Goods) (91) Market Capitalization : 81,503,452,721,600
11 | 81.5T | 1.42% | 48.52%
11 | 25.7T | 1.38% | 45.36%

Established Date : 13-Oct-1972 1. PT Astra International Tbk. 2,219,317,358 : 59.50%
Listing Date : 19-Sep-1989 2. Public (<5%) 1,510,817,778 : 40.50%
Under Writer IPO :
PT (Persero) Danareksa Bonus Cash Recording Payment
F/I
PT Finconesia Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1989 100.00 05-Jan-90 06-Jan-90 11-Jan-90 31-Jan-90 I
PT Raya Saham Registra 1990 525.00 From 11-Jun-90 until 28-Jun-91 F
Plaza Central Building 2nd Fl. 1991 350.00 From 21-Nov-91 until 22-Jul-92 F
Jln. Jend. Sudirman Kav. 47-48, Jakarta 12930 1992 70.00 11-Nov-92 12-Nov-92 19-Nov-92 15-Dec-92 I
Fax : (021) 252-5028 1993 100.00 11-Nov-93 12-Nov-93 19-Nov-93 15-Dec-93 I
1993 1:3 23-Feb-94 24-Feb-94 03-Mar-94 01-Apr-94 B
1. Prijono Sugiarto 1994 40.00 11-Nov-94 16-Nov-94 23-Nov-94 15-Dec-94 I
2. Anugerah Pekerti *) 1994 70.00 22-Jun-95 23-Jun-95 03-Jul-95 31-Jul-95 F
3. Chiew Sin Cheok 1995 45.00 22-Nov-95 23-Nov-95 01-Dec-95 29-Dec-95 I
4. David Alexander Newbigging 1995 85.00 20-Jun-96 21-Jun-96 01-Jul-96 31-Jul-96 F
5. Djoko Pranoto Santoso 1996 60.00 21-Nov-96 22-Nov-96 02-Dec-96 27-Dec-96 I
6. Nanan Sukarna *) 1996 100.00 26-Jun-97 27-Jun-97 07-Jul-97 28-Jul-97 F
*) Independent Commissioners 1999 5:9 08-Jun-00 09-Jun-00 14-Jun-00 23-Jun-00 B
2004 20.00 30-Nov-04 01-Dec-04 03-Dec-04 17-Dec-04 I
BOARD OF DIRECTORS 2005 35.00 23-Jun-05 22-Jun-05 27-Jun-05 11-Jul-05
1. Gidion Hasan 2005 110.00 12-Jun-06 13-Jun-06 15-Jun-06 29-Jun-06 F
2. Edhie Sarwono 2006 45.00 13-Oct-06 16-Oct-06 18-Oct-06 03-Nov-06 I
3. Franciscus Xaverius Laksana Kesuma 2006 85.00 20-Jun-07 21-Jun-07 25-Jun-07 08-Jul-07 F
4. Idot Supriadi 2007 60.00 10-Oct-07 11-Oct-07 18-Oct-07 01-Nov-07 I
5. Iman Nurwahyu 2007 150.00 10-Jun-08 11-Jun-08 13-Jun-08 27-Jun-08 F
6. Iwan Hadiantoro 2008 100.00 23-Oct-08 24-Oct-08 28-Oct-08 11-Nov-08 I
7. Loudy Irwanto Ellias 2008 220.00 11-Jun-09 12-Jun-09 16-Jun-09 26-Jun-09 F
2009 330.00 14-Jun-10 15-Jun-10 17-Jun-10 01-Jul-10 F
AUDIT COMMITTEE 2010 160.00 27-Oct-10 28-Oct-10 01-Nov-10 12-Nov-10 I
1. Anugerah Pekerti 2010 430.00 31-May-11 01-Jun-11 06-Jun-11 13-Jun-11 F
2. Lindawati Halim 2011 185.00 27-Oct-11 28-Oct-11 01-Nov-11 11-Nov-11 I
3. Wiltarsa Halim 2011 635.00 11-May-12 14-May-12 16-May-12 30-May-12 F
2012 210.00 16-Oct-12 17-Oct-12 19-Oct-12 02-Nov-12 I
CORPORATE SECRETARY 2012 620.00 14-May-13 15-May-13 17-May-13 31-May-13 F
Sara K. Loebis 2013 175.00 02-Oct-13 03-Oct-13 07-Oct-13 23-Oct-13 I
2013 515.00 14-May-14 16-May-14 20-May-14 05-Jun-14 F
HEAD OFFICE 2014 195.00 09-Oct-14 10-Oct-14 14-Oct-14 28-Oct-14 I
Jln. Raya Bekasi Km. 22 2014 740.00 28-Apr-15 29-Apr-15 04-May-15 22-May-15 F
Jakarta 13910 2015 251.00 28-Sep-15 29-Sep-15 01-Oct-15 16-Oct-15 I
Phone : (021) 460-5959 - 79 2015 440.00 02-May-16 03-May-16 09-May-16 23-May-16 F
Fax : (021) 460-0655, 460-0677 2016 143.00 28-Sep-16 29-Sep-16 03-Oct-16 17-Oct-16 I
Homepage : www.unitedtractors.com ISSUED HISTORY

Email : sarakl@unitedtractors.com Listing Trading
ir@unitedtractors.com No. Type of Listing Shares Date Date
1. First Issue 2,700,000 19-Sep-89 19-Sep-89
2. Partial Listing 8,436,000 T: 26-Dec-89 : 27-Feb-91
3. Right Issue 2,151,579,636 T: 27-May-91 : 06-Jun-11
4. Company Listing 11,864,000 T: 25-Mar-92 : 01-Apr-92
5. Bonus Shares 351,900,000 T: 04-Apr-94 : 26-Jun-00
6. Stock Split 1,159,200,000 05-Sep-00 05-Sep-00
7. ESOP Conversion 1,201,500 T: 27-May-03 : 12-Jun-03
8. ESOP Conversion II 43,254,000 T: 11-Jun-03 : 14-Jul-05

TRADING ACTIVITIES
United Tractors Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
26,000 40.0 Jan-13 22,000 19,250 19,750 37,566 137,029 2,832,813 21
Feb-13 20,250 18,800 19,300 28,991 103,417 1,998,532 20
22,750 35.0 Mar-13 20,650 17,150 18,200 32,376 126,007 2,424,466 19
Apr-13 19,400 17,700 17,750 24,930 101,694 1,879,304 22
May-13 18,200 16,200 16,300 28,432 106,717 1,837,046 22
19,500 30.0
Jun-13 18,200 15,500 18,200 41,315 128,783 2,184,264 19
Jul-13 18,200 16,000 16,800 24,018 65,178 1,091,719 23
16,250 25.0
Aug-13 19,000 13,650 15,800 23,353 72,694 1,173,353 17
Sep-13 18,300 15,500 16,300 25,190 89,382 1,498,912 21
13,000 20.0
Oct-13 18,900 16,400 17,500 20,649 52,815 949,367 21
Nov-13 20,900 17,200 18,250 25,361 87,744 1,709,298 20
9,750 15.0 Dec-13 19,550 17,900 19,000 17,545 48,524 906,953 19
6,500 10.0 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
3,250 5.0 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
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
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
40%
Jan-15 18,275 16,850 17,900 52,951 63,591 1,113,496 21
30% Feb-15 21,025 17,525 20,750 50,302 82,703 1,569,832 19
Mar-15 22,350 20,300 21,800 71,498 93,856 2,010,940 22
20% 21.8% Apr-15 23,400 20,475 21,400 53,700 82,243 1,859,237 21
14.7% May-15 24,000 20,300 20,300 62,249 66,582 1,499,440 19
10% 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
4.3%
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
Oct-15 21,200 16,825 18,100 82,824 94,272 1,782,476 21
-10%
Nov-15 19,250 16,050 16,300 96,641 93,992 1,659,051 21
Dec-15 17,025 13,925 16,950 80,623 86,646 1,348,310 19
-20%
Jan-16 17,450 15,625 17,400 72,205 79,869 1,311,592 20

-30% 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
-40% Apr-16 17,100 14,600 15,000 58,588 101,144 1,587,539 21
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
Volume (Million Sh.) 1,120 1,005 879 1,434 75 Sep-16 19,250 16,525 17,700 62,436 155,946 2,798,517 21
Days 244 242 244 246 21 Dec-16 23,950 19,200 21,250 82,313 110,733 2,393,569 20
Price (Rupiah) Jan-17 22,975 20,575 21,850 54,239 75,436 1,652,241 21

High 22,000 25,350 24,000 23,975 22,975
Low 13,650 16,425 13,925 12,550 20,575
Close 19,000 17,350 16,950 21,250 21,850
Close* 19,000 17,350 16,950 21,250 21,850
PER (X) 14.66 10.17 16.41 19.01 19.55

PER Industry (X) 15.42 22.13 14.53 19.07 17.53
PBV (X) 1.99 1.68 1.61 1.97 2.03

Receivables 9,894,656 11,814,937 13,586,675 12,169,624 12,114,511

7,173,704 6,176,470 7,770,086 8,328,331 7,108,044 60,000
Inventories
Current Assets 22,048,115 27,814,126 33,579,799 39,259,708 42,197,323
45,000
Fixed Assets 15,196,476 14,574,384 13,625,012 12,659,736 12,072,399
Other Assets - - - - -
30,000
Total Assets 50,300,633 57,362,244 60,292,031 61,715,399 63,991,229
Growth (%) 14.04% 5.11% 2.36% 3.69% 15,000

Growth (%) 20.63% 0.01% 3.45% -4.88%
Paid up Capital 932,534 932,534 932,534 932,534 932,534 42,622
38,577 39,250
35,649
32,301
Par Value 250 250 250 250 250
33,927

32,300,557 35,648,898 38,576,734 39,250,325 42,621,943
25,232
Total Equity
Growth (%) 10.37% 8.21% 1.75% 8.59% 16,537
Total Revenues 55,953,915 51,012,385 53,141,768 49,347,479 45,539,238

Growth (%) -8.83% 4.17% -7.14% -7.72%
-852
2012 2013 2014 2015 2016
Cost of Revenues 45,432,916 41,495,567 41,071,359 37,645,186 35,878,274

Gross Profit 10,520,999 9,516,818 12,070,409 11,702,293 9,660,964
Expenses (Income) 3,074,244 2,929,481 5,448,551 7,509,547 2,930,934
53,142
51,012 49,347
Growth (%)
55,954
45,539
44,539

Tax 1,693,413 1,788,559 1,781,888 1,400,307 1,625,553

21,710
Growth (%) -16.59% 0.86% -42.30% 82.80%

10,296
Current Ratio (%) 194.65 191.02 206.04 214.77 229.88
5,753
Dividend (Rp) 830.00 690.00 935.00 691.00 143.00 5,753
5,104
4,799 4,840
EPS (Rp) 1,549.45 1,295.85 1,439.52 1,033.07 1,341.03
BV (Rp) 8,659.35 9,557.00 10,341.91 10,522.49 11,426.38 4,580
DAR (X) 0.36 0.38 0.36 0.36 0.33

0.56 0.61 0.56 0.57 0.50 2,792
DER(X)
3,406
ROA (%) 11.44 8.37 8.03 4.52 7.98 2,232
ROE (%) 17.81 13.46 12.55 7.11 11.98

GPM (%) 18.80 18.66 22.71 23.71 21.21 1,059
OPM (%) - - - - -
NPM (%) 10.28 9.41 9.11 5.66 11.21
-115
2012 2013 2014 2015 2016

Payout Ratio (%) 53.57 53.25 64.95 66.89 10.66
Yield (%) 4.21 3.63 5.39 4.08 0.67

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
UNVR
UNILEVER INDONESIA TBK.
Company Profile
PTUnileverIndonesiaTbk.wasestablishedonDecember5th,1933.UnileverIndonesiahas
growntobealeadingcompanyofHomeandPersonalCareaswellasFoodsandIceCream
productsinIndonesia.

The Company is engaged in the manufacturing, marketing and distribution of consumer
goods including soaps, detergents, margarine, dairy based foods, ice cream, cosmetic
products,teabasedbeveragesandfruitjuice.TheCompanycommenceditscommercial
operationsin1933.

Unilever Indonesias portfolio includes many of the worlds best known and wellloved
brands, such as: epsodent, Lux, Lifebuoy, Dove, Sunsilk, Clear, Rexona, Vaseline, Rinso,
Molto,Sunlight,Walls,BlueBand,Royco,Bango,etc.

TheCompanysmajorityshareholderasat31December2016isUnileverIndonesiaHolding
B.V.("UIH"),whileitsultimateparententityisUnileverN.V.,Netherlands.

TheCompanysfactoriesarelocatedatJln.Jababeka9BlokD,Jln.JababekaRayaBlokO,
Jln.JababekaVBlokUNo.1416,Jln.JababekaXIBlokLNo12,JababekaIndustrialEstate
Cikarang, Bekasi, West Java, and Jln. Rungkut Industri IV No. 511, Rungkut Industrial
Estate,Surabaya,EastJava.AsatDecember31st,2016theCompanyhad6,185employees.

February 2017
Disclaimer:

UNVR Unilever Indonesia Tbk. [S]
Industry Sub Sector : Cosmetics And Household (54) Market Capitalization : 314,356,000,000,000
5 | 314.4T | 5.47% | 32.14%
10 | 26.1T | 1.40% | 43.98%

Established Date : 05-Dec-1933 1. Unilever Indonesia Holding BV 6,484,877,500 : 84.99%
Listing Date : 11-Jan-1982 2. Public (<5%) 1,145,122,500 : 15.01%
Under Writer IPO :
PT Danareksa Bonus Cash Recording Payment
F/I
PT Merchant Investment Corporation Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1989 6:1 600.00 from 27-Oct-89 until 26-Jun-90 I
PT Sharestar Indonesia 1990 690.00 23-Oct-90 04-Jul-91 I&F
Berita Satu Plasa 7th Fl. 1992 780.00 20-Feb-92 20-Aug-93 I&F
Jln. Jend. Gatot Subroto Kav. 35-36, Jakarta 12950 1993 810.00 21-Oct-93 29-Jul-94 I&F
Phone : (021) 527-7966 1994 860.00 03-Nov-94 28-Jul-95 I&F
Fax : (021) 527-7967 1995 920.00 06-Nov-95 26-Jul-96 I&F
1996 1,010.00 04-Nov-96 27-Aug-97 I&F
BOARD OF COMMISSIONERS 1997 1,110.00 03-Nov-97 07-Aug-98 I&F
1. Maurits Daniel Rudolf Lalisang 1998 1,320.00 18-Nov-98 27-Jul-99 I&F
2. Cyrillus Harinowo *) 1999 25,000.00 03-Nov-99 20-Jul-00 I&F
3. Erry Firmansyah *) 2000 690.00 28-Nov-00 01-Aug-01 I&F
4. Hikmahanto Juwana *) 2001 1,150.00 19-Nov-01 22-Nov-02 I&F
5. Mahendra Siregar *) 2002 900.00 11-Feb-03 04-Aug-03 I&F
*) Independent Commissioners 2003 130.00 17-Feb-04 03-Aug-04 I&F
2004 130.00 02-Dec-04 24-Mar-05 I&F
BOARD OF DIRECTORS 2005 260.00 08-Jul-05 11-Jul-06 I&F
1. Hemant Bakshi 2006 205.00 29-Nov-06 11-Jul-07 I&F
2. Ainul Yaqin 2007 257.00 28-Nov-07 11-Jul-08 I&F
3. Amparo Cheung Aswin 2008 315.00 26-Nov-08 14-Jul-09 I&F
4. Annemarieke Edwardine Eva De Haan 2009 100.00 25-Nov-09 26-Nov-09 01-Dec-09 15-Dec-09 I
5. Debora Herawati Sadrach 2009 299.00 28-Jun-10 29-Jun-10 01-Jul-10 13-Jul-10 F
6. Enny Hartati 2010 100.00 26-Nov-10 29-Nov-10 01-Dec-10 15-Dec-10 I
7. Sancoyo Antarikso 2010 344.00 27-Jun-11 28-Jun-11 01-Jul-11 13-Jul-11 F
8. Tevilyan Yudhistira Rusli 2011 250.00 06-Dec-11 07-Dec-11 09-Dec-11 15-Dec-11 I
9. Willy Saelan 2011 296.00 27-Jun-12 28-Jun-12 02-Jul-12 13-Jul-12 F
2012 300.00 10-Dec-12 11-Dec-12 13-Dec-12 20-Dec-12 I
AUDIT COMMITTEE 2012 334.00 28-Jun-13 01-Jul-13 03-Jul-13 16-Jul-13 F
1. Erry Firmansyah 2013 330.00 02-Dec-13 03-Dec-13 05-Dec-13 12-Dec-13 I
2. Dwi Martani 2013 371.00 26-Jun-14 27-Jun-14 01-Jul-14 15-Jul-14 F
3. Haryanto Sahari 2014 336.00 02-Dec-14 03-Dec-14 05-Dec-14 12-Dec-14 I
2015 342.00 01-Dec-15 02-Dec-15 04-Dec-15 17-Dec-15 I
CORPORATE SECRETARY 2015 424.00 21-Jun-16 22-Jun-16 24-Jun-16 15-Jul-16 F
Sancoyo Antarikso 2016 375.00 05-Dec-16 06-Dec-16 08-Dec-16 22-Dec-16 I
HEAD OFFICE ISSUED HISTORY

Graha Unilever, BSD Green Office Park Kav. 3 Listing Trading
Jln. BSD Boulevard Barat, BSD City No. Type of Listing Shares Date Date
Tangerang 15345 1. First Issue 9,200,000 11-Jan-82 11-Jan-82
Phone : (021) 8082-7000 2. Bonus Shares 1,533,334 15-Dec-89 15-Dec-89
Fax : (021) 8082-7002 3. Bonus Shares 717,891 22-Sep-93 22-Sep-93
4. Company Listing 64,848,775 02-Jan-98 02-Jan-98
Homepage : www.unilever.co.id 5. Stock Split 686,700,000 06-Nov-00 06-Nov-00
Email : unvr.indonesia@unilever.com 6. Stock Split 6,867,000,000 03-Sep-03 03-Sep-03

UNVR Unilever Indonesia Tbk. [S]
TRADING ACTIVITIES
Unilever Indonesia Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
48,000 16.0 Jan-13 23,150 20,900 22,050 23,609 61,636 1,347,431 21
Feb-13 23,300 21,650 22,850 17,807 44,383 1,001,564 20
42,000 14.0 Mar-13 23,100 21,700 22,800 16,433 50,808 1,147,414 19
Apr-13 26,250 22,150 26,250 15,906 50,732 1,178,848 22
May-13 34,500 24,800 30,500 21,913 57,502 1,657,707 22
36,000 12.0
Jun-13 31,550 25,550 30,750 34,773 62,429 1,795,607 19
Jul-13 34,600 26,000 31,800 24,938 45,612 1,435,491 23
30,000 10.0
Aug-13 32,350 26,600 31,200 25,112 39,989 1,191,169 17
Sep-13 33,300 30,100 30,150 28,077 50,371 1,587,564 21
24,000 8.0
Oct-13 37,350 29,600 30,000 26,976 54,142 1,698,290 21
Nov-13 30,800 25,700 26,600 27,121 53,564 1,502,119 20
18,000 6.0 Dec-13 27,300 25,100 26,000 22,404 36,810 963,138 19
12,000 4.0 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
6,000 2.0 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
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
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
Consumer Goods Industry Index Nov-14 32,000 29,700 31,800 30,080 28,440 877,909 20
140%
Jan-15 36,275 32,100 35,825 35,934 40,100 1,368,300 21
120% Feb-15 37,000 34,850 36,000 40,106 34,539 1,238,699 19
Mar-15 40,500 35,750 39,650 50,052 51,654 1,975,029 22
100% 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
88.6%
80% 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
60%
Sep-15 40,250 35,350 38,000 54,837 34,163 1,307,719 21
46.7% Oct-15 40,000 37,000 37,000 65,118 39,538 1,523,171 21
40%
Nov-15 38,500 34,500 36,750 50,036 39,978 1,471,337 21
Dec-15 37,825 34,150 37,000 47,897 39,437 1,426,482 19
20% 21.8%
Jan-16 37,500 35,300 36,700 61,635 48,570 1,758,009 20

- 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
-20% Apr-16 47,300 42,025 42,575 61,443 42,830 1,895,250 21
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
Volume (Million Sh.) 608 435 505 611 44 Sep-16 46,000 44,000 44,550 54,577 59,751 2,679,123 21
Days 244 242 244 246 21 Dec-16 42,425 37,825 38,800 60,970 57,838 2,329,836 20
Price (Rupiah) Jan-17 42,000 38,800 41,200 51,627 44,325 1,784,042 21

High 37,350 33,000 46,000 47,800 42,000
Low 20,900 25,800 32,100 35,300 38,800
Close 26,000 32,300 37,000 38,800 41,200
Close* 26,000 32,300 37,000 38,800 41,200
PER (X) 37.06 45.65 48.24 46.74 49.63

PER Industry (X) 15.98 24.22 17.71 23.77 19.08
PBV (X) 46.63 45.03 58.48 46.67 49.56

UNVR UnileverIndonesiaTbk.[S]
Receivables 2,261,941 3,279,694 3,052,260 3,602,272 3,809,854

2,061,899 2,084,331 2,325,989 2,297,502 2,318,130 14,000
Inventories
Current Assets 5,035,962 5,862,939 6,337,170 6,623,114 6,588,109
10,500
Fixed Assets 6,283,479 6,874,177 7,348,025 8,320,917 9,529,476
Other Assets 70,456 69,271 81,310 292,968 156,383
7,000
Total Assets 11,984,979 7,485,249 14,280,670 15,729,945 16,745,695
Growth (%) -37.54% 90.78% 10.15% 6.46% 3,500

Long Term Liabilities 480,718 674,076 817,056 775,043 1,163,363 2012 2013 2014 2015 2016
Growth (%) 13.43% 6.47% 12.61% 10.45%
4,599 4,704
Paid up Capital 76,300 76,300 76,300 76,300 76,300 4,827
4,255
Par Value 10 10 10 10 10
3,843

3,968,365 4,254,670 4,598,782 4,827,360 4,704,258
2,858
Total Equity
Growth (%) 7.21% 8.09% 4.97% -2.55% 1,873
Total Revenues 27,303,248 30,757,435 34,511,534 36,484,030 40,053,732

Growth (%) 12.65% 12.21% 5.72% 9.78%
-97
2012 2013 2014 2015 2016
Cost of Revenues 13,414,122 14,978,947 17,412,413 17,835,061 19,594,636

Gross Profit 13,889,126 15,778,488 17,099,121 18,648,969 20,459,096
Expenses (Income) 7,391,019 8,614,043 9,336,793 10,709,568 11,751,435
36,484
Growth (%) 10.25% 8.35% 2.28% 9.68%
40,054
34,512
30,757
27,303
31,883

Tax 1,627,620 1,806,183 1,938,199 1,977,685 2,181,213

Growth (%) 10.61% 7.21% 1.97% 9.21%

7,370
Current Ratio (%) 66.83 69.64 71.49 65.40 60.56
6,391
Dividend (Rp) 634.00 701.00 336.00 766.00 375.00 6,391
5,739 5,852
634.24 701.52 752.10 766.95 837.57 5,353
EPS (Rp)
4,839
BV (Rp) 520.10 557.62 602.72 632.68 616.55 5,087
DAR (X) 0.67 1.21 0.68 0.69 0.72

DER(X) 2.02 2.14 2.11 2.26 2.56
3,783
ROA (%) 40.38 71.51 40.18 37.20 38.16 2,480
ROE (%) 121.94 125.81 124.78 121.22 135.85

GPM (%) 50.87 51.30 49.55 51.12 51.08 1,176
OPM (%) 23.80 23.29 22.49 21.76 21.74

NPM (%) 17.72 17.40 16.63 16.04 15.96
-128
2012 2013 2014 2015 2016

Payout Ratio (%) 99.96 99.93 44.67 99.88 44.77
Yield (%) 3.04 2.70 1.04 2.07 0.97

CC O
OMM PP A
ANN YY RR EE PP O
O RR TT
WIKA
WIJAYA KARYA (PERSERO) TBK.
Company Profile
PTWijayaKarya(Persero)Tbk.establisheddated29March1960.

The purpose and objectives of the Company is to engage in the construction industry,
manufacturing industry, conversion industry, rental, agency services, investment, agro
industry, renewable energy and conversion energy , trading, engineering, procurement,
construction,area(industrialzone)management,servicecapacityupgradesinthefieldof
construction,informationtechnologyforengineeringandplanningservices,byapplyingthe
principlesoflimitedliabilitycompanies.

The Company is domiciled at Jln. D.I. Panjaitan Kav. 9, Jakarta. The main activities
throughoutIndonesiaandoverseas.TheCompanystarteditsactivitiescommerciallyin1961.

TheCompanydirectlyownedmorethan50%sharesonsubsidiariesasfollows:
PTWijayaKaryaBeton,
PTWijayaKaryaRealty,
PTWijayaKaryaIndustridanKonstruksi,
PTWijayaKaryaRekayasaKonstruksi,
PTWijayaKaryaBangunanGedung,
PTWijayaKaryaBitumen.
TheentiresubsidiariesaredomiciledinIndonesia.

NumberofEmployeesoftheCompanyonDecember31st,2016was2,187employees.

February 2017
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.

WIKA WijayaKarya(Persero)Tbk.[S]
46 | 23.1T | 0.40% | 72.09%
33 | 11.9T | 0.64% | 67.46%

Under Writer IPO :
PT CIMB-GK Securities Indonesia DIVIDEND ANNOUNCEMENT
F/I
PT Indo Premier Securities Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 2007 5.97 06-Jun-08 09-Jun-08 11-Jun-08 25-Jun-08 F
Wisma Sudirman - Puri Datindo 2009 10.02 27-May-10 31-May-10 02-Jun-10 16-Jun-10 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2010 17.08 06-Jun-11 07-Jun-11 09-Jun-11 23-Jun-11 F
Phone : (021) 570-9009 2011 17.28 23-May-12 24-May-12 28-May-12 11-Jun-12 F
2013 27.82 28-Apr-14 29-Apr-14 02-May-14 13-May-14 F
BOARD OF COMMISSIONERS 2014 20.03 29-Apr-15 30-Apr-15 05-May-15 22-May-15 F
1. Bakti Santoso Luddin 2015 20.35 09-May-16 10-May-16 12-May-16 27-May-16 F
2. Imas Aan Ubudiah *)
3. Nurrachman *) ISSUED HISTORY
4. Eddy Kristanto Listing Trading
5. Freddy R Saragih No. Type of Listing Shares Date Date
6. Liliek Mayasari 1. First Issue 1,846,154,000 29-Oct-07 29-Oct-07
7. Mudijadi 2. Negara RI (Seri A) 1 29-Oct-07 29-Oct-07
*) Independent Commissioners 3. Company Listing 3,999,999,999 29-Oct-07 29-Oct-07
4. ESOP II 213,500 T: 16-Dec-09 : 22-Dec-09
BOARD OF DIRECTORS 5. MSOP I 2,183,500 T: 24-May-10 : 30-Jun-10
1. Bintang Perbowo 6. MSOP II 908,000 T: 24-May-10 : 30-Jun-10
2. Antonius Ms Kosasi 7. MSOP I & II 152,081,500 T: 22-Nov-10 : 05-Jan-11
3. Bambang Pramujo 8. ESOP/MSOP I & II 137,504,500 T: 20-May-11 : 01-Jul-13
4. Destiawan Soewardjono 9. ESOP/MSOP II 9,974,000 T: 22-Nov-11 : 01-Jul-14
5. Gandira Gutawa Sumapraja 10. ESOP/MSOP I 206,000 30-Dec-13 30-Dec-13
6. I Gusti Ngurah Askhara Danadiputra 11. Right Issue I 2,820,726,372 T: 22-Nov-16 : 29-Nov-16
AUDIT COMMITTEE
1. Bakti Santoso Luddin
2. Arzul Andaliza
3. Fahrul Ismaeni
4. Indracahya Kusumasubrata
5. M. Sjukrul Amien
CORPORATE SECRETARY
Suradi
HEAD OFFICE
Jln. D.I. Panjaitan Kav. 9
Jakarta - 13340
Phone : (021) 819-2808, 850-8640
Fax : (021) 819-1235, 859-11969
Homepage : www.wika.co.id
Email : suradi@wika.co.id
puspita@wika.co.id

TRADING ACTIVITIES
Wijaya Karya (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
3,600 240 Jan-13 1,730 1,470 1,650 25,183 446,947 726,586 21
Feb-13 1,780 1,590 1,770 22,785 521,572 871,607 20
3,150 210 Mar-13 2,075 1,680 2,025 39,561 759,537 1,407,679 19
Apr-13 2,475 1,950 2,400 27,075 501,903 1,087,356 22
May-13 2,900 2,375 2,825 24,613 424,941 1,105,249 22
2,700 180
Jun-13 2,875 1,930 2,050 45,363 735,887 1,669,932 19
Jul-13 2,325 1,590 2,075 48,860 935,852 1,864,035 23
2,250 150
Aug-13 2,250 1,350 1,740 38,418 604,516 1,095,151 17
Sep-13 2,125 1,620 1,920 52,542 912,763 1,717,307 21
1,800 120
Oct-13 2,125 1,820 1,920 31,706 501,965 982,191 21
Nov-13 1,950 1,600 1,650 27,137 392,473 683,096 20
1,350 90 Dec-13 1,810 1,540 1,580 22,377 320,791 543,658 19
900 60 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
450 30 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
Jun-14 2,345 2,145 2,215 29,386 300,893 677,128 21
Jul-14 2,860 2,205 2,650 53,246 583,781 1,491,132 18
Aug-14 2,990 2,595 2,870 42,619 442,129 1,229,926 20
Sep-14 2,950 2,580 2,605 48,236 379,891 1,065,777 22
175%
Jan-15 3,795 3,455 3,745 52,642 422,511 1,535,100 21
150% Feb-15 3,895 3,460 3,660 55,188 417,389 1,520,634 19
Mar-15 3,670 3,320 3,495 50,820 304,513 1,059,529 22
125% 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
100% 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
81.4% Aug-15 2,835 2,370 2,765 53,430 374,592 989,582 20
75%
Sep-15 2,920 2,485 2,590 41,560 208,513 576,663 21
59.7% Oct-15 3,150 2,580 2,940 49,738 296,308 879,972 21
50%
Nov-15 2,950 2,690 2,815 38,394 169,330 481,458 21
Dec-15 2,880 2,535 2,640 29,813 235,174 634,206 19
25%
21.8%
Jan-16 2,910 2,605 2,800 35,647 287,391 807,865 20
- 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
-25% Apr-16 2,765 2,520 2,650 37,202 215,531 575,267 21
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
Value (Billion Rp) 13,754 16,915 11,409 11,523 1,147 Oct-16 2,980 2,550 2,570 27,399 168,746 467,978 21
Days 244 242 244 246 21 Dec-16 2,620 2,270 2,360 38,278 398,293 981,027 20
Price (Rupiah) Jan-17 2,590 2,340 2,570 39,608 460,644 1,146,818 21

High 2,900 3,895 3,895 3,390 2,590
Low 1,350 1,580 2,370 2,200 2,340
Close 1,580 3,680 2,640 2,360 2,570
Close* 1,463 3,408 2,445 2,360 2,570
PER (X) 17.02 42.35 25.97 39.54 43.06

PER Industry (X) 9.57 16.29 13.36 24.89 28.26
PBV (X) 3.01 4.79 2.99 3.71 4.04

Public Accountant : Soetjana, Mulyana & Rekan
Receivables 1,978,912 2,132,198 2,639,364 3,836,199 1,961,818

25,000
Inventories 1,138,080 1,118,390 817,307 1,031,278 1,247,710

18,750
Investment 1,208,327 1,583,043 1,941,539 1,897,987 439,202
Fixed Assets 1,168,757 1,640,292 2,676,043 3,184,400 3,465,843
12,500
Other Assets 73,252 71,743 71,075 41,183 22,103
Total Assets 10,945,209 12,594,963 15,915,162 19,602,406 31,096,539 6,250
Growth (%) 15.07% 26.36% 23.17% 58.64%
-
Trade Payable 2,529,217 3,061,518 3,902,807 4,323,398 4,680,244 2012 2013 2014 2015 2016
Growth (%) 15.21% 16.74% 29.52% 31.30%
Paid up Capital 610,563 613,997 614,923 614,923 896,995

9,949
Par Value 100 100 100 100 100

1,196,354 1,202,095 1,518,306 2,013,224 2,627,883
7,399
Retained Earnings 5,438

4,979
Total Equity 2,814,006 3,226,959 4,978,758 5,438,101 12,498,715 4,850
3,227
Growth (%) 14.67% 54.29% 9.23% 129.84% 2,814
2,300

Total Revenues 9,816,086 11,884,668 12,463,216 13,620,101 15,668,833
-250
2012 2013 2014 2015 2016

Growth (%) 21.07% 4.87% 9.28% 15.04%
Cost of Revenues 8,902,209 10,562,234 11,038,647 11,965,441 13,441,729

Gross Profit 1,111,382 1,583,448 1,794,327 1,943,063 2,605,939
845,417 1,215,962 1,400,919 1,513,905 2,079,004

15,669

12,463
Growth (%) 43.83% 15.21% 8.07% 37.33% 12,472
11,885
9,816
Income before Tax 807,916 1,016,690 1,145,890 1,098,082 1,230,490

Tax 302,791 392,319 395,094 395,077 83,345
6,080
Profit for the period 505,125 624,372 750,796 703,005 1,147,145

Growth (%) 23.61% 20.25% -6.37% 63.18%
2,883
-313
Period Attributable 457,858 569,940 615,181 625,044 1,011,828 2012 2013 2014 2015 2016
Comprehensive Income 508,764 624,372 750,796 709,311 1,128,869
Dividend (Rp) 22.32 27.82 20.03 20.35 - 1,147
EPS (Rp) 82.73 101.69 122.10 114.32 127.89

BV (Rp) 460.89 525.57 809.66 884.36 1,393.40 913
751
703
DAR (X) 0.74 0.74 0.69 0.72 0.60 624
DER(X) 2.89 2.90 2.20 2.60 1.49
679
505
ROA (%) 4.62 4.96 4.72 3.59 3.69 445
ROE (%) 17.95 19.35 15.08 12.93 9.18

GPM (%) 11.32 13.32 14.40 14.27 16.63 211
OPM (%) 8.61 10.23 11.24 11.12 13.27

NPM (%) 5.15 5.25 6.02 5.16 7.32
-23
2012 2013 2014 2015 2016

Payout Ratio (%) 26.98 27.36 16.40 17.80 -
Yield (%) 0.95 1.18 0.85 0.86 -

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
AanemingMaatschappijNV"whichlaterbecamenationalizedStateCompany(PN)Waskita
KarjaonJanuary1,1961,andtheCompanyatthetimewasbasedinJakarta.
Overall,projectssourcesfromthegovernmentstillpresentthemostappeal.Civilprojects
are continually driven grow and justify investment in new resources (particularly
constructionequipment),whilebuildingprojectsstillexperienceselectivegrowthrate.The
Companysprimaryproductarebuildingandcivilconstruction,aswellasEPC.Thesethree
typesofserviceareofferedtotwoprincipalmarkets,namelythegovernmentandprivate
sector.TheCompanymustcontinuetobeselectiveandcarefullyweighrisksinaccepting
projectsfromprivateentitiesfortheconstructionofbuildingsandcivilitems.
The Company is currently striving to expand its precast concrete business. The Company
employstwomeanstomeetitsneedforprecastconcrete,namelybyprocuringthesame
fromexternalsourcesandbyproducingtheminternally.
TheCompanysstrategyisrealizedbyachievingthesettargetsintermsofcontractvalue,
revenueandprofit,byemployingthefollowingstrategiesandpolicies:
Continuing focus on the core business, supplemented by expansion into new
markets in the relevant business sectors: precast concrete, realty and toll road
investment;
Focus on the government sector and potential civil projects, particularly large
scaleinfrastructureprojects;
Enhancement of competitive advantage through improvements in work systems
andcapitalstructure;
EnrichmentofexperiencethroughstrategicpartneringandEPCactivities;
Focusontheapplicationofvalueengineering;
Enhancement of profit margin through cost reduction programs and business
diversification;
Expansionofoverseasmarketshare;
UpgradingofITsystemthroughtheuseoftheMicrosoftDynamicapplication.
The Company remains convinced that management preparedness, supported by good
corporate governance, sustainable human resources development and programmed
business strategies, will open opportunities for growth and contribute towards achieving
anevenbetterfuturefortheCompany.
ThetotalnumberofemployeesatDecember31st,2016was1,426.
February 2017
Disclaimer:

WSKT WaskitaKarya(Persero)Tbk.[S]
30 | 34.7T | 0.60% | 64.91%
18 | 21.7T | 1.17% | 54.42%

Established Date : 01-Jan-1961 1. Pemerintah Republik Indonesia 8,963,697,887 : 66.04%
Under Writer IPO :
PT Bahana Securities (affiliated) DIVIDEND ANNOUNCEMENT
PT Danareksa Sekuritas (affiliated) Bonus Cash Recording Payment
F/I
PT Mandiri Sekuritas (affiliated) Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 2012 2.11 10-May-13 13-May-13 15-May-13 29-May-13 F
PT Datindo Entrycom 2013 11.46 28-Apr-14 29-Apr-14 02-May-14 19-May-14 F
Wisma Sudirman - Puri Datindo 2014 10.31 04-May-15 05-May-15 07-May-15 28-May-15 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 2015 15.44 05-Apr-16 06-Apr-16 08-Apr-16 29-Apr-16 F
Phone : (021) 570-9009
Fax : (021) 570-9026 ISSUED HISTORY
Listing Trading
BOARD OF COMMISSIONERS No. Type of Listing Shares Date Date
1. Mohamad Hasan 1. First Issue 3,082,315,000 19-Dec-12 19-Dec-12
2. M. Aqil Irham *) 2. Company Listing 6,549,921,000 19-Dec-12 19-Dec-12
3. Viktor S. Sirait *) 3. MESOP I 97,953,425 T: 23-May-14 : 15-Dec-16
4. Arif Baharudin 4. MESOP II 190,021,825 T: 20-May-15 : 15-Dec-16
5. Danis Hidayat Sumadilaga 5. Right Issue 3,653,498,200 08-Jul-15 08-Jul-15
6. R. Agus Sartono
BOARD OF DIRECTORS
1. M. Choliq
2. Adi Wibowo
3. Agus Sugiono
4. Desi Arryani
5. Nyoman Wirya Adnyana
6. Tunggul Rajagukguk
AUDIT COMMITTEE
1. Viktor S. Sirait
2. Hengki Z P Tampubolon
3. R Agus Sartono
4. Tjahjo Winarto
CORPORATE SECRETARY
Y. Ariandi Siregar
HEAD OFFICE
Waskita Building 9th Fl.
Jln. M.T. Haryono Kav. No. 10
Cawang, Jakarta 13340
Phone : (021) 850-8510
Fax : (021) 850-8506
Homepage : www.waskita.co.id
Email : waskita@waskita.co.id

TRADING ACTIVITIES
Waskita Karya (Persero) Tbk. [S] Closing Price Freq. Volume Value
Day
Closing Volume
3,000 400 Jan-13 490 425 470 16,190 795,507 361,316 21
Feb-13 630 460 610 25,036 1,549,717 829,186 20
2,625 350 Mar-13 730 580 720 36,894 1,497,699 977,725 19
Apr-13 800 660 770 28,087 1,190,414 861,257 22
May-13 1,080 770 1,050 38,880 1,506,312 1,351,118 22
2,250 300
Jun-13 1,060 710 770 68,307 2,193,824 1,872,431 19
Jul-13 850 620 790 48,239 1,511,901 1,144,500 23
1,875 250
Aug-13 830 445 550 37,846 1,206,295 744,295 17
Sep-13 680 450 590 50,717 1,781,255 1,024,650 21
1,500 200
Oct-13 650 550 600 31,903 1,227,099 738,953 21
Nov-13 610 440 455 29,709 907,064 452,235 20
1,125 150 Dec-13 485 400 405 27,797 812,597 370,734 19
750 100 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
375 50 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
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
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
Closing Price*, Jakarta Composite Index (IHSG) and Oct-14 985 800 970 47,946 1,467,392 1,312,756 23
Property, Real Estate and Bulding Construction Index Nov-14 1,060 940 1,045 32,150 864,321 873,185 20
595%
Jan-15 1,740 1,355 1,715 70,104 1,483,277 2,224,845 21
510% 510.8% Feb-15 1,890 1,680 1,815 66,468 1,082,352 1,936,847 19
Mar-15 1,825 1,630 1,780 59,602 922,085 1,598,474 22
425% 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
340% 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
255%
Sep-15 1,675 1,525 1,550 32,563 419,021 676,229 21
Oct-15 1,770 1,565 1,630 52,743 914,328 1,523,625 21
170%
Nov-15 1,760 1,605 1,605 46,419 639,780 1,085,373 21
Dec-15 1,690 1,605 1,670 30,077 407,446 673,388 19
85%
59.7%
Jan-16 1,775 1,615 1,735 56,094 850,420 1,459,308 20
21.8%
- 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
-85% Apr-16 2,395 1,995 2,345 68,067 827,418 1,820,681 21
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
Days 244 242 241 246 21 Dec-16 2,650 2,290 2,550 35,516 363,350 912,572 20
Price (Rupiah) Jan-17 2,680 2,500 2,560 31,508 318,343 826,513 21

High 1,080 1,550 1,900 2,860 2,680
Low 400 402 1,355 1,615 2,500
Close 405 1,470 1,670 2,550 2,560
Close* 395 1,433 1,670 2,550 2,560
PER (X) 10.60 84.55 21.63 27.78 27.89

PER Industry (X) 9.57 16.29 13.36 24.89 28.26
PBV (X) 1.64 5.90 2.34 2.14 2.15

Public Accountant : Doli, Bambang, Sulistiyanto, Dadang & Ali (Member of BKR International)
Receivables 1,971,997 2,342,084 2,990,509 5,512,986 8,622,125

50,000
Inventories 412,538 292,227 604,279 826,384 2,556,732

37,500
Investment 50,352 70,168 659,691 972,699 2,619,105
Fixed Assets 239,934 415,440 621,792 1,923,144 3,275,335
25,000
Other Assets 19,036 21,180 33,023 236,767 98,338
Total Assets 8,366,244 8,788,303 12,542,041 30,309,111 61,425,182 12,500
Growth (%) 5.04% 42.71% 141.66% 102.66%
-
Trade Payable 2,002,815 2,291,268 2,571,795 5,472,021 7,361,695 2012 2013 2014 2015 2016
Growth (%) 0.72% 51.34% 112.57% 116.71%
Paid up Capital 963,233 963,224 966,634 1,357,249 1,357,328

13,351
Par Value 100 100 100 100 100 9,704

215,174 563,911 954,024 1,933,161 3,334,162
9,930
Retained Earnings
Total Equity 2,007,075 2,383,437 2,848,830 9,704,207 16,773,219 6,508
Growth (%) 18.75% 19.53% 240.64% 72.84%

2,383 2,849
3,086 2,007

Total Revenues 8,808,416 9,686,610 10,286,813 14,152,753 23,788,323
-335
2012 2013 2014 2015 2016

Growth (%) 9.97% 6.20% 37.58% 68.08%
Cost of Revenues 8,076,158 8,775,914 9,177,917 12,231,515 19,820,484

Gross Profit 824,835 1,012,371 1,306,012 1,932,837 3,967,838
628,528 706,898 939,383 1,739,500 3,145,782

23,788
Operating Profit
Growth (%) 12.47% 32.89% 85.17% 80.84% 18,936
14,153
10,287
Income before Tax 459,913 611,201 755,602 1,398,004 2,155,589 8,808
9,687
Tax 205,882 243,230 254,389 350,413 342,520

9,230
Profit for the period 254,031 367,970 501,213 1,047,591 1,813,069

Growth (%) 44.85% 36.21% 109.01% 73.07%
4,377
-476
Period Attributable 254,031 368,060 501,531 1,047,738 1,713,261 2012 2013 2014 2015 2016
Comprehensive Income 254,363 366,629 497,058 1,483,266 1,809,183
Comprehensive Attributable 254,363 366,719 497,375 1,483,414 1,709,375
Dividend (Rp) 2.11 11.46 10.31 15.44 - 1,813
EPS (Rp) 26.37 38.20 51.85 77.18 133.58

BV (Rp) 208.37 247.44 294.72 714.99 1,235.75 1,443
DAR (X) 0.76 0.73 0.77 0.68 0.73 1,048

DER(X) 3.17 2.69 3.40 2.12 2.66
1,073
ROA (%) 3.04 4.19 4.00 3.46 2.95

501
703
ROE (%) 12.66 15.44 17.59 10.80 10.81 368

254
GPM (%) 9.36 10.45 12.70 13.66 16.68 334
OPM (%) 7.14 7.30 9.13 12.29 13.22

NPM (%) 2.88 3.80 4.87 7.40 7.62
-36
2012 2013 2014 2015 2016

Payout Ratio (%) 8.00 30.01 19.89 20.00 -
Yield (%) 0.08 0.45 0.40 0.61 -

IDX LQ45 February 2017

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IDX LQ45

No. Code Stock Name Page

Jakarta Composite Index =

10. Debt to Equity Ratio (DER)

11. Return on Assets (ROA)

12. Return on Equity (ROE)

13. Gross Profit Margin (GPM)

18. [S] Sharia Compliant Stock

20. Comprehensive Attribute : Comprehensive Income attributable to owners entity

Jakarta, February 2017

Research and Development Division

2017 Indonesia Stock Exchange. All rights reserved.

ASTRA AGRO LESTARI TBK.

2 RESEARCH AND DEVELOPMENT DIVISION

41 | 10.3T | 0.55% | 72.12%

COMPANY HISTORY SHAREHOLDERS (January 2017)

RESEARCH AND DEVELOPMENT DIVISION 3

7,500 10.0 Jan-14 25,800 20,650 21,475 44,874 40,059 875,810 20

Jan-16 17,450 15,600 17,075 35,425 32,255 535,544 20

Price (Rupiah) Jan-17 17,200 15,725 15,775 23,077 33,707 551,720 21

PER (X) 21.94 15.62 40.32 21.14 19.88

4 RESEARCH AND DEVELOPMENT DIVISION

Receivables 50,068 20,554 47,451 88,026 579,126

Current Liabilities 2,600,540 3,759,265 4,110,955 3,522,133 3,942,967 -

Paid up Capital (Shares) 1,575 1,575 1,575 1,575 1,925

INCOME STATEMENTS Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 3,237

Total Revenues 11,564,319 12,674,999 16,305,831 13,059,216 14,121,374

2012 2013 2014 2015 2016

Cost of Revenues 7,206,837 8,592,003 11,352,975 9,977,118 10,445,360

Tax 1,004,627 694,729 1,059,765 479,829 94,479

Growth (%) -24.46% 37.72% -73.47% 203.92%

Period Attributable 2,410,259 1,802,193 2,504,467 619,107 2,006,973 -326

EPS (Rp) 1,530.57 1,144.43 1,590.40 393.15 1,042.75 2,114

DAR (X) 0.25 0.31 0.36 0.46 0.27

ROA (%) 20.29 12.72 14.13 3.23 8.73

ROE (%) 26.91 18.55 22.16 5.95 12.02

2012 2013 2014 2015 2016

RESEARCH AND DEVELOPMENT DIVISION 5

6 RESEARCH AND DEVELOPMENT DIVISION

30 | 14.1T | 0.76% | 65.40%

COMPANY HISTORY SHAREHOLDERS (January 2017)

RESEARCH AND DEVELOPMENT DIVISION 7

850 60 Jan-14 1,850 1,425 1,780 34,825 523,862 885,065 20

Jan-16 2,580 2,070 2,550 70,823 856,813 2,027,511 20

Price (Rupiah) Jan-17 2,260 2,030 2,100 38,049 371,611 802,129 21

PER (X) 6.70 46.54 16.43 48.23 48.69

8 RESEARCH AND DEVELOPMENT DIVISION

Receivables 2,332,098 2,705,085 3,214,051 3,311,392 1,596,824

Inventories 116,552 161,560 132,014 162,651 131,016

Paid up Capital 180,132 180,132 180,132 356,085 356,085

Par Value 100 100 100 100 100

Growth (%) 31.12% 13.11% 194.72% 5.44% 1,181

INCOME STATEMENTS Dec-12 Dec-13 Dec-14 Dec-15 Dec-16

2012 2013 2014 2015 2016

Cost of Revenues 6,671,815 8,606,444 7,655,377 8,414,926 9,948,797

- - 724,884 850,730 728,591 9,800

Operating Profit 9,390

Other Income (Expenses) -88,526 -108,337 -125,327 -104,639 -115,969 6,550

Income before Tax 423,315 714,365 599,557 746,091 612,622

Profit for the period 213,318 408,438 331,661 465,026 315,108

DAR (X) 0.85 0.84 0.83 0.69 0.73

ROE (%) 18.06 26.38 18.94 9.01 5.79

OPM (%) - - 8.38 9.06 6.59