Idx lq45 Feb 2019 PDF

IDX LQ45
INDEX MEMBER PROFILES
February 2019
Contents
No. Code Stock Name Page

1. ADHI 2
Adhi Karya (Persero) Tbk. [S] (Building Construction, 62) ..................................................................................................
2. ADRO 6
Adaro Energy Tbk. [S] (Coal Mining, 21) ........................................................................................................................... .
3. AKRA 10
AKR Corporindo Tbk. [S] (Wholesale (Durable & Non-Durable Goods), 91) .......................................................................
4. ANTM 14
Aneka Tambang Tbk. [S] (Metal And Mineral Mining , 23) ..................................................................................................
5. ASII 18
Astra International Tbk. [S] (Automotive And Components, 42) ..........................................................................................
6. BBCA 22
Bank Central Asia Tbk. (Bank, 81) .................................................................................................................................. ...
7. BBNI 26
Bank Negara Indonesia (Persero) Tbk. (Bank, 81) .............................................................................................................
8. BBRI 30
Bank Rakyat Indonesia (Persero) Tbk. (Bank, 81) ..............................................................................................................
9. BBTN 34
Bank Tabungan Negara (Persero) Tbk. (Bank, 81) .............................................................................................................
10. BMRI 38
Bank Mandiri (Persero) Tbk. (Bank, 81) ..............................................................................................................................
11. BRPT 42
Barito Pacific Tbk. [S] (Chemicals, 34) ............................................................................................................................. ..
12. BSDE 46
Bumi Serpong Damai Tbk. [S] (Property And Real Estate, 61) ...........................................................................................
13. CPIN 50
Charoen Pokphand Indonesia Tbk. [S] (Animal Feed, 36) ..................................................................................................
14. ELSA 54
Elnusa Tbk. [S] (Crude Petroleum & Natural Gas Production, 22) ......................................................................................
15. ERAA 58
Erajaya Swasembada Tbk. [S] (Retail Trade, 93) ...............................................................................................................
16. EXCL 62
XL Axiata Tbk. [S] (Telecommunication, 73) ..................................................................................................................... ..
17. GGRM 66
Gudang Garam Tbk. (Tobacco Manufacturers, 52) .............................................................................................................
18. HMSP 70
H.M. Sampoerna Tbk. (Tobacco Manufacturers, 52) ..........................................................................................................
19. ICBP 74
Indofood CBP Sukses Makmur Tbk. [S] (Food And Beverages, 51) ...................................................................................
20. INCO 78
Vale Indonesia Tbk. [S] (Metal And Mineral Mining , 23) .....................................................................................................
21. INDF 82
Indofood Sukses Makmur Tbk. [S] (Food And Beverages, 51) ...........................................................................................
22. INDY 86
Indika Energy Tbk. [S] (Coal Mining, 21) ........................................................................................................................... .
23. INKP 90
Indah Kiat Pulp & Paper Tbk. (Pulp & Paper, 38) ................................................................................................................
24. INTP 94
Indocement Tunggal Prakarsa Tbk. [S] (Cement, 31) .........................................................................................................
25. ITMG 98
Indo Tambangraya Megah Tbk. [S] (Coal Mining, 21) .........................................................................................................
26. JSMR 102
Jasa Marga (Persero) Tbk. [S] (Toll Road, Airport, Harbor And Allied Products, 72) ..........................................................
27. KLBF 106
Kalbe Farma Tbk. [S] (Pharmaceuticals, 53) .......................................................................................................................
28. LPPF 110
Matahari Department Store Tbk. [S] (Retail Trade, 93) .......................................................................................................
29. MEDC 114
Medco Energi Internasional Tbk. (Crude Petroleum & Natural Gas Production, 22) ...........................................................
30. MNCN 118
Media Nusantara Citra Tbk. [S] (Advertising, Printing And Media, 95) ................................................................................
31. PGAS 122
Perusahaan Gas Negara Tbk. [S] (Energy, 71) ...................................................................................................................
32. PTBA 126
Bukit Asam Tbk. [S] (Coal Mining, 21) ........................................................................................................................... .....
33. PTPP 130
PP (Persero) Tbk. [S] (Building Construction, 62) ...............................................................................................................
34. PWON 134
Pakuwon Jati Tbk. [S] (Property And Real Estate, 61) ........................................................................................................
35. SCMA 138
Surya Citra Media Tbk. [S] (Advertising, Printing And Media, 95) .......................................................................................
36. SMGR 142
Semen Indonesia (Persero) Tbk. [S] (Cement, 31) .............................................................................................................
37. SRIL 146
Sri Rejeki Isman Tbk. (Textile, Garment, 43) ......................................................................................................................
38. TKIM 150
Pabrik Kertas Tjiwi Kimia Tbk. (Pulp & Paper, 38) ..............................................................................................................
39. TLKM 154
Telekomunikasi Indonesia (Persero) Tbk. [S] (Telecommunication, 73) .............................................................................
40. TPIA 158
Chandra Asri Petrochemical Tbk. [S] (Chemicals, 34) ........................................................................................................
41. UNTR 162
United Tractors Tbk. [S] (Wholesale (Durable & Non-Durable Goods), 91) ........................................................................
42. UNVR 166
Unilever Indonesia Tbk. [S] (Cosmetics And Household, 54) ..............................................................................................
43. WIKA 170
Wijaya Karya (Persero) Tbk. [S] (Building Construction, 62) ...............................................................................................
44. WSBP 174
Waskita Beton Precast Tbk. [S] (Cement, 31) .....................................................................................................................
45. WSKT 178
Waskita Karya (Persero) Tbk. (Building Construction, 62) ..................................................................................................
FOREWORDS
This publication is designated as a service to domestic investors and other capital market participants, as part of the nation-wide efforts
in educating and improving the dissemination of capital market information. These efforts are important in carrying out the task of
................ ................................................................................................................
expanding the domestic investor base.
......................................................................................................
To..................................................................................................................................
......................... improve the future editions of this publication, the readers’ comments and feedback would be highly appreciated.
............ ....................................................................................................................
Jakarta, February 2019
.................... ....................................................................................................................
.............................................................................................
Statistical Publication Unit
..................... ...............................................................................................
Research and Development Division
Indonesia Stock Exchange
..................... ...............................................................................................
...................... ...............................................................................................
..... ...............................................................................................
...................................................................................................
.................... ...................................................................................................................
.......................... ......................................................................................................
......... ...................................................................................................................................
............ .......................................................................................................
...........................................................................................................
..... ................................................................................................................
........ ................................................................................................................
.................................. .............................................................................................................
......... ....................................................................................................................
.......................... .............................................................................................................
......................................................................................................
........... .......................................................................................................
........................ .................................................................................................
................... ......................................................................................................
............................... .........................................................................................................................................
. ..........................................................................................................
.................... .......................................................................................................
.................................... ...................................................................................................................................
........................ ..........................................................................................................................
.............. .................................................................................................
..................................................................................................
... ................................................................................................................
....... ...................................................................................................................
................. ..........................................................................................................................
.................... .................................................................................................
...........................................................................................................
............. .......................................................................................................
......................................... ............................................................................................................
© 2019 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 2019
2 IDX LQ45 Index Members Profile
ADHI KARYA (PERSERO) TBK.

Company Profile
PT Adhi Karya (Persero) Tbk., (ADHI) began as a Dutch company called Architecten-enIngenicure
Annemersbedrijf Associatie Selle & de Bruyn, Reyerse & de Vries N.V. (Associate N.V.). In March
11, 1960 it was nationalized as a State-Owned Company, named PN Adhi Karya, which became the
origin of the best infrastructure development company in Indonesia. Based on the approval of the
Minister of Justice of the Republic of Indonesia No. 26 of 1974, starting from June 1, 1974 the status
of PN Adhi Karya changed to a Limited Liability Company.
ADHI became the first construction company to be listed on the Indonesia Stock Exchange on
March 18, 2004. It’s 5 (five) main business lines which are currently engaged in Construction
Services, Energy, Property, Industry, and Investment.
ADHI has 3 (three) subsidiaries which are PT Adhi Persada Properti (APP), PT Adhi Persada Gedung
(APG), dan PT Adhi Persada Beton (APB)
ADHI is currently constructing the first phase of Jabodebek LRT project spanning 43.3 km. The LRT
project completion will mark a historic milestone in Indonesia infrastructure development.
In line with ADHI’s assignment as LRT contractor, ADHI has shown its concerns for spatial efficiency
and public mobility by developing residential and commercial areas integrated with LRT stations
based on Transit Oriented Development (TOD) concept to help reduce the traffic congestion in
Jakarta and its surrounding cities. A number of residential and commercial areas such as
apartments and shopping centers will be equipped with supporting facilities including parks,
pedestrian and bicycle crossing as well as a spacious parking area.
At project sites, ADHI strives to constantly instill HSE awareness to every employee, through the
implementation of following programs: Safety Induction, Safety Morning Talk, and Tool Box
Meeting.
In 2018 the company received awards: Top 50 Mid Capitalization Public Listed Company, Certificate
of Appreciation in Recognition of Outstanding Commitment in People Development, Indonesian
Living Legend Companies, CECT Sustainability Awards, Top 5 GCG Issues in Construction Sector,
Tempo Country Contributor Award 2018, Indonesia Biodiversity Conservation Trust Fund, Etc..
The Company’s head office is located at Jalan Raya Pasar Minggu Km.18, Jakarta. As of September
30th, 2018, the Company and subsidiaries had 1,550 permanent employees.
February 2019
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.
INDONESIA STOCK EXCHANGE

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

COMPANY REPORT : JANUARY 2019 As of 31 January 2019
Main Board Individual Index : 1,280.108
Industry Sector : Property, Real Estate & Building Construction (6) Listed Shares : 3,560,849,376
Industry Sub Sector : DLTA (62) Market Capitalization : 5,804,184,482,880
162 | 5.80T | 0.08% | 90.81%
84 | 4.28T | 0.21% | 85.28%
COMPANY HISTORY SHAREHOLDERS (December 2018)

Established Date : 11-Mar-1960 1. Republic of Indonesia 1,816,046,624 : 51.00%
Listing Date : 18-Mar-2004 (IPO Price: 150) 2. Public (<5%) 1,744,802,752 : 49.00%
Underwriter IPO :
PT. Ciptadana Sekuritas DIVIDEND ANNOUNCEMENT
Securities Administration Bureau : Bonus Cash Recording Payment
F/I
PT Datindo Entrycom Year Shares Dividend Cum Date Ex Date Date Date
2003 12.30 7-Jul-04 8-Jul-04 12-Jul-04 23-Jul-04 F
BOARD OF COMMISSIONERS 2004 19.56 17-Jun-05 20-Jun-05 22-Jun-05 6-Jul-05 F
1. Muhammad Fadjroel Rachman 2005 12.98 20-Jul-06 21-Jul-06 25-Jul-06 8-Aug-06 F
2. Bobby A.A. Nazief 2006 10.61 17-Jul-07 18-Jul-07 20-Jul-07 3-Aug-07 F
3. Hironimus Hilapok *) 2008 11.51 2-Jul-09 3-Jul-09 7-Jul-09 22-Jul-09 F
4. Muchlis R. Luddin *) 2009 28.26 30-Jun-10 1-Jul-10 5-Jul-10 19-Jul-10 F
5. Rildo Ananda Anwar 2010 32.35 4-Jul-11 5-Jul-11 7-Jul-11 20-Jul-11 F
6. Wicipto Setiadi 2011 30.33 5-Jun-12 6-Jun-12 8-Jun-12 22-Jun-12 F
*) Independent Commissioners 2012 23.49 13-May-13 14-May-13 16-May-13 29-May-13 F
2013 67.61 4-Apr-14 7-Apr-14 10-Apr-14 25-Apr-14 F
BOARD OF DIRECTORS 2014 35.98 27-Mar-15 30-Mar-15 1-Apr-15 22-Apr-15 I
1. Budi Harto 2015 26.23 15-Apr-16 18-Apr-16 20-Apr-16 12-May-16 F
2. Agus Karianto 2017 28.95 20-Apr-18 23-Apr-18 25-Apr-18 17-May-18 F
3. Budi Saddewa Soediro
4. Entus Asnawi ISSUED HISTORY
5. Partha Sarathi Listing Trading
6. Pundjung Setya Brata No. Type of Listing Shares Date Date
1. First Issue 397,188,000 18-Mar-04 18-Mar-04
AUDIT COMMITTEE 2. Company Listing 918,680,000 18-Mar-04 18-Mar-04
1. Muchlis R. Luddin 3. Employee Management Buy Out (EMBO) 441,320,000 18-Mar-04 3-Jul-06
2. Ratna Wardhani 4. Employee Stock Allocation (ESA) 44,132,000 18-Mar-04 26-Jun-04
3. Taufik Hidayat 5. Right Issue 897,366,624 9-Oct-15 9-Oct-15
6. Right Issue 259,180,948 13-Oct-15 13-Oct-15
CORPORATE SECRETARY 7. Right Issue 90,316,424 15-Oct-15 15-Oct-15
Ki Syahgolang Permata 8. Right Issue 313,084,300 16-Oct-15 16-Oct-15
9. Right Issue 169,499,395 19-Oct-15 19-Oct-15
HEAD OFFICE 10. Right Issue 30,081,685 21-Oct-15 21-Oct-15
South Building
Jl. Raya Pasar Minggu KM 18
Jakarta 12510
Phone : (021) 797-5312
Fax : (021) 797-5311
Homepage : www.adhi.co.id
Email : adhi@adhi.co.id


TRADING ACTIVITIES
Closing Price* and Trading Volume
Adhi Karya (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
Price* January 2015 - January 2019 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
3,400 240 Jan-15 3,780 3,320 3,695 64,117 576,447 2,067,005 21
Feb-15 3,870 3,330 3,440 64,269 520,481 1,843,502 19
2,975 210 Mar-15 3,475 2,990 3,055 49,578 297,973 949,746 22
Apr-15 3,180 2,680 2,765 47,276 291,008 876,099 21
May-15 2,940 2,490 2,505 43,538 232,483 639,163 19
2,550 180
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
2,125 150
Aug-15 2,340 1,665 1,995 70,761 366,814 731,984 20
Sep-15 2,340 1,855 2,250 85,168 525,345 1,119,272 21
1,700 120
Oct-15 2,410 1,850 2,230 102,153 1,201,936 2,604,099 21
Nov-15 2,345 2,105 2,200 55,399 540,360 1,214,604 21
1,275 90 Dec-15 2,270 2,040 2,140 34,926 317,411 683,169 19
850 60 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
425 30 Mar-16 2,840 2,555 2,690 48,667 519,063 1,413,655 21
Apr-16 2,910 2,645 2,675 49,750 562,525 1,558,604 21
May-16 2,710 2,420 2,570 44,806 371,638 945,245 20
Jun-16 2,830 2,530 2,780 44,156 448,114 1,224,428 22
Jan-15 Jan-16 Jan-17 Jan-18 Jan-19
Jul-16 2,900 2,700 2,830 35,306 393,230 1,105,417 16
Aug-16 2,860 2,660 2,670 53,421 590,369 1,634,318 22
Sep-16 2,730 2,310 2,360 58,883 449,387 1,124,446 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-16 2,510 2,130 2,270 48,902 375,525 881,747 21
Property, Real Estate and Bulding Construction Index Nov-16 2,270 1,830 1,910 42,844 338,379 692,729 22
January 2015 - January 2019 Dec-16 2,280 1,855 2,080 64,378 622,275 1,295,451 20
45%
Jan-17 2,260 2,030 2,100 38,049 371,611 802,129 21
30% Feb-17 2,350 1,945 2,130 56,156 691,793 1,485,856 19
24.6% Mar-17 2,470 2,080 2,370 48,413 517,551 1,203,799 22
15% Apr-17 2,420 2,150 2,260 27,827 273,299 623,911 17
May-17 2,420 2,150 2,350 26,000 240,181 549,671 20
- Jun-17 2,340 2,130 2,150 17,209 145,864 321,552 15
Jul-17 2,240 1,950 2,220 44,200 508,406 1,087,262 21
-12.6% Aug-17 2,220 2,000 2,020 22,832 215,316 449,201 22
-15%
Sep-17 2,090 1,930 2,000 20,920 182,482 367,303 19
Oct-17 2,280 1,975 2,190 32,801 377,107 800,468 22
-30%
Nov-17 2,300 1,955 1,955 39,486 440,890 933,209 22
Dec-17 1,965 1,705 1,885 48,250 469,371 889,878 18
-45% -46.3%
Jan-18 2,370 1,805 2,230 57,126 616,400 1,299,800 22
-60% Feb-18 2,500 2,090 2,480 33,097 325,788 773,708 19
Mar-18 2,510 2,050 2,070 23,512 175,221 401,298 21
-75% Apr-18 2,220 1,835 1,880 21,399 142,641 295,855 21
Jan 15 Jan 16 Jan 17 Jan 18 Jan 19 May-18 1,985 1,715 1,945 21,986 136,155 257,074 20
Jun-18 1,945 1,790 1,790 8,310 55,612 105,939 13
Jul-18 1,815 1,535 1,605 36,338 269,344 435,566 22
SHARES TRADED 2015 2016 2017 2018 Jan-19 Aug-18 1,730 1,460 1,490 39,356 251,420 401,971 21
Volume (Million Sh.) 5,887 6,076 4,434 2,714 309 Sep-18 1,495 1,320 1,390 18,920 83,963 117,398 19
Value (Billion Rp) 15,087 15,348 9,514 5,052 532 Oct-18 1,460 1,100 1,125 22,693 142,537 186,827 23
Frequency (Thou. X) 767 617 422 360 55 Nov-18 1,570 1,125 1,565 43,740 293,350 412,365 21
Days 244 246 238 240 22 Dec-18 1,705 1,505 1,585 33,724 222,068 364,268 18
Price (Rupiah) Jan-19 1,840 1,585 1,630 54,759 309,499 531,887 22

High 3,870 2,910 2,470 2,510 1,840
Low 1,665 1,830 1,705 1,100 1,585
Close 2,140 2,080 1,885 1,585 1,630
Close* 2,140 2,080 1,885 1,585 1,630
PER (X) 16.43 48.23 13.02 12.62 12.97

PER Industry (X) 13.36 24.89 14.52 27.07 28.17
PBV (X) 1.48 1.43 1.14 0.92 0.95
* Adjusted price after corporate action


Financial Data and Ratios Book End : December
Public Accountant : Hertanto Grace Karunawan
BALANCE SHEET Dec-14 Dec-15 Dec-16 Dec-17 Sep-18 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
(in Million Rp, except Par Value) Assets Liabilities
Cash & Cash Equivalents 811,412 4,317,348 3,364,910 4,131,174 1,503,477 28,750
Receivables 3,214,051 3,311,392 1,596,824 1,852,385 3,962,527

23,000
Inventories 132,014 162,651 131,016 3,683,145 4,443,391

17,250
Investment 52,850 399,640 345,943 497,866 654,541
Fixed Assets 496,096 1,099,427 1,459,816 1,520,931 1,552,659
11,500
Other Assets 27,893 186,808 334,751 - -
Total Assets 10,458,882 16,761,064 20,095,436 28,332,948 28,339,861
5,750
Growth (%) 60.26% 19.89% 40.99% 0.02%
-
Trade Payable 4,923,213 6,489,310 8,372,701 11,610,970 11,307,579 2014 2015 2016 2017 Sep-18
Total Liabilities 8,707,338 11,598,932 14,652,656 22,463,031 22,236,863
Growth (%) 33.21% 26.33% 53.30% -1.01%
TOTAL EQUITY (Bill. Rp)
6,103
5,870
Authorized Capital 544,000 544,000 544,000 544,000 1,440,000 6,103
5,443
5,162
Paid up Capital 180,132 356,085 356,085 356,085 356,085
Paid up Capital (Shares) 1,801 3,561 3,561 3,561 3,561
4,858
Par Value 100 100 100 100 100

Retained Earnings 1,509,579 1,789,885 1,997,137 2,445,826 2,678,276
3,613
Total Equity 1,751,543 5,162,132 5,442,780 5,869,917 6,102,998

1,752
2,368
Growth (%) 194.72% 5.44% 7.85% 3.97%

1,123
INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Sep-18

Total Revenues 8,653,578 9,389,570 11,063,943 15,156,178 9,432,065
-122
2014 2015 2016 2017 Sep-18

Growth (%) 8.51% 17.83% 36.99%
Cost of Revenues 7,655,377 8,414,926 9,948,797 13,098,372 7,943,274

TOTAL REVENUES (Bill. Rp)
Gross Profit 1,016,588 1,006,724 1,184,570 2,288,748 1,488,791
Operating Expenses 278,322 395,494 455,979 581,077 456,241 15,156
Operating Profit 738,267 611,230 728,591 1,707,672 1,103,987

15,156
Growth (%) -17.21% 19.20% 134.38% 12,064 11,064

9,390 9,432
8,654
Other Income (Expenses) -143,714 134,861 -115,969 -750,390 -429,976 8,972
Income Before Tax 594,553 746,091 612,622 957,282 674,012

Tax 267,896 281,066 297,515 440,222 337,839 5,881
Profit for the period 326,657 465,026 315,108 517,060 336,173

Growth (%) 42.36% -32.24% 64.09%
2,789
-303
Period Attributable 324,071 463,685 313,451 522,935 335,533 2014 2015 2016 2017 Sep-18
Comprehensive Income 326,616 878,754 404,657 524,579 336,173
Comprehensive Attributable 324,031 877,408 403,000 522,935 335,533
PROFIT FOR THE PERIOD (Bill. Rp)
RATIOS Dec-14 Dec-15 Dec-16 Dec-17 Sep-18 517
Dividend (Rp) 35.98 26.23 - 28.95 - 517
465
EPS (Rp) 181.34 130.59 88.49 145.21 94.41
BV (Rp) 972.37 1,449.69 1,528.51 1,648.46 1,713.92 412
327 336
315
DAR (X) 0.83 0.69 0.73 0.79 0.78
DER(X) 4.97 2.25 2.69 3.83 3.64
306
ROA (%) 3.12 2.77 1.57 1.82 1.19 201
ROE (%) 18.65 9.01 5.79 8.81 5.51

GPM (%) 11.75 10.72 10.71 15.10 15.78 95
OPM (%) 8.53 6.51 6.59 11.27 11.70

NPM (%) 3.77 4.95 2.85 3.41 3.56
-10
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 19.84 20.08 - 19.94 -
Yield (%) 2.59 1.89 - 2.08 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

ADARO ENERGY TBK.

Company Profile
PT Adaro Energy Tbk. was established July 28th, 2004. The company is a vertically integrated
energy producer in Indonesia with businesses along the coal, energy, utilities and supporting
infrastructure sectors. It’s deploy an integrated business model comprised of eight pillars: Adaro
Mining, Adaro Services, Adaro Logistics, Adaro Power, Adaro Land, Adaro Water, Adaro Capital
and Adaro Foundation.
The company is a leading Indonesian coal mining company and Indonesia's second-largest
producer of thermal coal. The company operates the largest single coal mine in the country (in
South Kalimantan) and aims to be a leading integrated coal mining and energy group in Southeast
Asia.
The Company produces coal that is less environment unfriendly due to its low content of sulfur,
nitrogen and ash. This coal is globally trademarked as envirocoal. About 25 percent of its coal
production is consumed on the domestic market, mainly for power generation by coal-fired
plants. Major export markets of Adaro Energy's coal are India, Spain, Japan, South Korea and
China. The subsidiaries combine with a range of contractors to produce and deliver coal with
industry-leading efficiency and low cost.
The Company’s head office is domiciled in Jakarta and located at Menara Karya, 23rd Floor, Jl. H.R.
Rasuna Said Block X-5, Kav. 1-2, South Jakarta. As September 30th, 2018, the Company and its
subsidiaries had 9,270 permanent employees.
Indonesia’s looming electricity shortage (see panel) provided an incentive for us to set up PT
Adaro Power (AP) in order to to help us diversify and strengthen our business from pit to power.
We established Adaro Power in 2010 to act as a strategic vehicle for our active involvement in
the development of power plants in Indonesia.
Our move into power will allow us to leverage our competitive advantage in securing coal supply
and create a captive demand for our coal, boost our presence in the domestic market, secure a
stable revenue stream and favorable returns, improve our bargaining position with boiler
manufacturers, and minimize the impact of volatility from the cyclical nature of the coal sector.
February 2019
Disclaimer:

ADRO Adaro Energy Tbk.

Main Board Individual Index : 126.364
Industry Sector : Mining (2) Listed Shares : 31,985,962,000
Industry Sub Sector : Coal Mining (21) Market Capitalization : 44,460,487,180,000
29 | 44.5T | 0.60% | 64.65%
13 | 32.5T | 1.56% | 41.58%

Established Date : 28-Jul-2004 1. PT Adaro Strategic Investments 14,045,425,500 : 43.91%
Listing Date : 16-Jul-2008 (IPO Price: 1,100) 2. Garibaldi Thohir 1,976,632,710 : 6.18%
Underwriter IPO : 3. Public (<5%) 15,963,903,790 : 49.91%
PT Danatama Makmur
Securities Administration Bureau : DIVIDEND ANNOUNCEMENT
PT Ficomindo Buana Registrar Bonus Cash Recording Payment
F/I
Year Shares Dividend Cum Date Ex Date Date Date
BOARD OF COMMISSIONERS 2008 11.80 25-Aug-09 26-Aug-09 28-Aug-09 11-Sep-09 F
1. Edwin Soeryadjaya 2009 12.00 11-Dec-09 14-Dec-09 16-Dec-09 30-Dec-09 I
2. Arini Saraswaty Subianto 2009 17.00 2-Jun-10 3-Jun-10 7-Jun-10 18-Jun-10 F
3. Palgunadi Tatit Setyawan *) 2010 9.85 26-Nov-10 29-Nov-10 1-Dec-10 10-Dec-10 I
4. Raden Pardede *) 2010 20.50 27-May-11 30-May-11 1-Jun-11 9-Jun-11 F
5. Theodore Permadi Rachmat 2011 21.35 28-Nov-11 29-Nov-11 1-Dec-11 9-Dec-11 I
*) Independent Commissioners 2011 53.66 29-May-12 30-May-12 1-Jun-12 12-Jun-12 F
2012 12.13 29-May-12 30-May-12 1-Jun-12 12-Jun-12 I
BOARD OF DIRECTORS 2012 10.65 26-Dec-12 27-Dec-12 2-Jan-13 15-Jan-13 I
1. Garibaldi Thohir 2012 12.36 29-May-13 30-May-13 3-Jun-13 12-Jun-13 F
2. Chia Ah Hoo 2013 15.30 24-Dec-13 27-Dec-13 2-Jan-14 16-Jan-14 I
3. Christian Ariano Rachmat 2013 13.47 26-May-14 28-May-14 2-Jun-14 12-Jun-14 F
4. David Tendian 2014 11.73 24-Dec-14 29-Dec-14 2-Jan-15 16-Jan-15 I
5. Julius Aslan 2014 18.52 30-Apr-15 4-May-15 6-May-15 27-May-15 F
6. M. Syah Indra Aman 2015 15.29 28-Dec-15 29-Dec-15 4-Jan-16 15-Jan-16 I
7. Siswanto Prawiroatmodjo 2015 17.51 25-Apr-16 26-Apr-16 28-Apr-16 20-May-16 F
2016 25.62 28-Dec-16 29-Dec-16 3-Jan-17 13-Jan-17 I
AUDIT COMMITTEE 2016 16.78 4-May-17 5-May-17 9-May-17 26-May-17 F
1. Raden Pardede 2017 42.25 28-Dec-17 29-Dec-17 3-Jan-18 12-Jan-18 I
2. Ignatius Robby Sani 2017 65.39 30-Apr-18 2-May-18 4-May-18 18-May-18 F
3. Lindawati Gani 2018 US$ 0.00235 27-Dec-18 28-Dec-18 2-Jan-19 15-Jan-19 I
CORPORATE SECRETARY ISSUED HISTORY

Mahardika Putranto Listing Trading
No. Type of Listing Shares Date Date
HEAD OFFICE 1. First Issue 11,139,331,000 16-Jul-08 16-Jul-08
Menara Karya 23th Floor 2. Company Listing 20,846,631,000 16-Jul-08 16-Apr-09
Jl. H.R. Rasuna Said, Blok X-5, Kv. 1-2
Jakarta 12950
Phone : (021) 2553-3000; 521-1265
Fax : (021) 2559-3083; 5794-4687
Homepage : www.astragraphia.co.id
Email : mahardika.putranto@ptadaro.com
investor.relations@adaro.com


TRADING ACTIVITIES
Adaro Energy Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
2,600 480 Jan-15 1,050 925 1,000 70,943 1,137,115 1,117,884 21
Feb-15 1,025 940 960 53,979 1,400,629 1,385,742 19
2,275 420 Mar-15 1,035 935 950 61,722 1,137,398 1,117,337 22
Apr-15 990 835 875 49,786 716,447 686,954 21
May-15 940 835 860 42,790 883,826 789,582 19
1,950 360
Jun-15 925 755 760 44,264 547,730 454,253 21
Jul-15 775 550 590 58,960 1,163,030 730,274 19
1,625 300
Aug-15 650 467 595 66,912 1,314,901 741,787 20
Sep-15 630 510 535 44,300 786,360 457,284 21
1,300 240
Oct-15 710 515 595 72,138 1,316,804 825,705 21
Nov-15 660 525 550 40,268 801,156 481,184 21
975 180 Dec-15 560 441 515 41,140 771,262 409,713 19
650 120 Jan-16 540 437 525 49,972 717,704 348,594 20

Feb-16 655 500 605 49,294 992,131 591,215 20
325 60 Mar-16 800 610 645 78,161 1,559,369 1,113,338 21
Apr-16 770 645 730 62,752 1,311,115 936,423 21
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
Aug-16 1,200 1,015 1,150 92,405 1,438,700 1,627,227 22
Sep-16 1,290 1,105 1,205 82,920 1,003,718 1,206,185 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-16 1,605 1,250 1,585 93,165 1,240,670 1,799,252 21
Mining Index Nov-16 1,735 1,465 1,530 142,999 1,757,498 2,829,944 22
January 2015 - January 2019 Dec-16 1,770 1,580 1,695 78,919 1,195,610 1,863,543 20
150%
Jan-17 1,760 1,655 1,695 73,011 531,367 911,947 21
120% Feb-17 1,755 1,615 1,695 53,483 535,620 910,453 19
Mar-17 1,845 1,565 1,750 81,339 704,697 1,205,722 22
90% Apr-17 1,940 1,770 1,775 61,224 604,434 1,125,829 17
May-17 1,795 1,395 1,520 81,970 937,416 1,429,528 20
60% Jun-17 1,670 1,465 1,580 60,421 531,927 841,432 15
Jul-17 1,850 1,565 1,785 69,632 778,160 1,330,716 21
40.5%
33.7% Aug-17 1,995 1,805 1,825 80,189 835,382 1,554,666 22
30%
24.6% Sep-17 1,930 1,630 1,825 80,279 723,828 1,300,512 19
Oct-17 1,935 1,745 1,825 72,586 746,680 1,394,964 22
-
Nov-17 1,925 1,680 1,700 87,243 1,358,622 2,445,129 22
Dec-17 1,905 1,695 1,860 61,672 708,242 1,281,650 18
-30%
Jan-18 2,650 1,810 2,450 112,333 1,644,802 3,661,205 22

-60% Feb-18 2,590 2,300 2,350 91,655 1,141,539 2,790,115 19
Mar-18 2,420 1,945 2,130 119,529 1,686,873 3,599,491 21
-90% Apr-18 2,290 1,820 1,835 105,048 1,391,488 2,904,001 21
Jan 15 Jan 16 Jan 17 Jan 18 Jan 19 May-18 1,980 1,575 1,885 184,766 3,004,149 5,295,149 20
Jun-18 2,070 1,650 1,790 97,465 1,225,406 2,319,604 13
Jul-18 2,130 1,690 1,905 136,665 1,480,225 2,793,338 22
SHARES TRADED 2015 2016 2017 2018 Jan-19 Aug-18 2,030 1,780 1,865 108,150 1,200,626 2,289,862 21
Volume (Million Sh.) 11,977 15,197 8,996 17,890 1,979 Sep-18 1,900 1,675 1,835 97,129 993,960 1,775,250 19
Value (Billion Rp) 9,198 15,784 15,733 33,372 2,768 Oct-18 1,900 1,610 1,650 104,754 964,801 1,677,369 23
Frequency (Thou. X) 647 916 863 1,426 169 Nov-18 1,650 1,220 1,285 152,432 1,745,700 2,460,455 21
Days 244 246 238 240 22 Dec-18 1,345 1,215 1,215 115,627 1,409,973 1,805,976 18
Price (Rupiah) Jan-19 1,510 1,215 1,390 169,122 1,978,654 2,768,154 22

High 1,050 1,770 1,995 2,650 1,510
Low 441 437 1,395 1,215 1,215
Close 515 1,695 1,860 1,215 1,390
Close* 515 1,695 1,860 1,215 1,390
PER (X) 7.83 14.96 9.09 6.24 7.14

PER Industry (X) 0.60 -4.41 6.26 -1.03 0.14
PBV (X) 0.36 1.18 1.07 0.60 0.69


Public Accountant : Tanudiredja, Wibisana, Rintis, & Partners
Cash & Cash Equivalents 9,267,904 9,689,623 14,469,873 16,350,377 14,403,141 112,500
Receivables 3,571,196 2,732,288 4,099,162 4,354,964 6,300,366

1,203,096 1,004,079 986,431 1,157,893 1,624,783 90,000
Inventories
Current Assets 15,814,016 15,070,207 21,399,719 26,813,687 24,975,381
67,500
Fixed Assets 20,104,075 20,237,329 20,747,697 20,410,780 24,515,702
Other Assets 268,605 359,651 352,265 - 534,622
45,000
Total Assets 79,762,813 82,193,328 87,633,045 92,318,064 106,763,370
Growth (%) 3.05% 6.62% 5.35% 15.65% 22,500
Current Liabilities 9,632,863 6,269,001 8,660,241 10,476,695 13,878,416 -

Long Term Liabilities 29,595,155 29,672,453 28,105,694 26,408,005 28,615,728 2014 2015 2016 2017 Sep-18
Growth (%) -8.38% 2.29% 0.32% 15.21%
Authorized Capital 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 64,269
Paid up Capital 3,198,596 3,198,596 3,198,596 3,198,596 3,198,596
55,433
Paid up Capital (Shares) 31,986 31,986 31,986 31,986 31,986 50,867
46,252
Par Value 100 100 100 100 100
51,158
40,535
Total Equity 40,534,794 46,251,875 50,867,111 55,433,363 64,269,226
38,047
Growth (%) 14.10% 9.98% 8.98% 15.94% 24,936
INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Sep-18 11,826
Total Revenues 41,355,222 37,029,662 33,915,675 44,143,895 39,814,165

Growth (%) -10.46% -8.41% 30.16%
-1,285
2014 2015 2016 2017 Sep-18
Cost of Revenues 32,404,572 29,535,382 24,708,307 28,678,826 26,698,232

Gross Profit 8,950,649 7,494,280 9,207,368 15,465,069 13,115,933
Expenses (Income) 2,859,099 2,916,314 1,312,133 2,569,744 2,061,128
Operating Profit 6,091,551 4,577,967 7,895,235 12,895,325 11,054,805 44,144
41,355
39,814
Growth (%) -24.85% 72.46% 63.33%
44,144
37,030
33,916
35,139
Other Income (Expenses) -2,091,648 -716,019 -552,193 -302,039 -1,461,265

Income before Tax 3,999,903 3,861,948 7,343,043 12,593,286 9,593,540 26,133
Tax 1,721,080 1,779,012 2,765,586 5,325,624 4,341,876

Profit for the period 2,278,822 2,082,935 4,577,457 7,267,662 5,251,664 17,128
Growth (%) -8.60% 119.76% 58.77%

8,122
Period Attributable 2,212,327 2,102,757 4,495,968 6,547,708 5,251,664 -883
Comprehensive Income 1,845,565 2,433,220 5,129,462 7,019,639 5,251,664 2014 2015 2016 2017 Sep-18
Comprehensive Attributable 1,811,888 2,384,868 5,031,916 6,303,790 5,197,263
RATIOS Dec-14 Dec-15 Dec-16 Dec-17 Sep-18 PROFIT FOR THE PERIOD (Bill. Rp)
Current Ratio (%) 164.17 240.39 247.10 255.94 179.96
7,268
Dividend (Rp) 30.24 32.80 42.40 107.64 - 7,268
EPS (Rp) 69.17 65.74 140.56 204.71 164.19

1,267.27 1,446.01 1,590.29 1,733.05 2,009.29 5,252
BV (Rp)
5,785
4,577
DAR (X) 0.49 0.44 0.42 0.40 0.40
DER(X) 0.97 0.78 0.72 0.67 0.66
4,302
ROA (%) 2.86 2.53 5.22 7.87 4.92 2,279

2,820
2,083
ROE (%) 5.62 4.50 9.00 13.11 8.17
GPM (%) 21.64 20.24 27.15 35.03 32.94 1,337
OPM (%) 14.73 12.36 23.28 29.21 27.77

NPM (%) 5.51 5.63 13.50 16.46 13.19
-145
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 43.72 49.89 30.16 52.58 -
Yield (%) 2.91 6.37 2.50 5.79 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

AKR CORPORINDO TBK.
Company Profile
PT AKR Corporindo Tbk. was established in Surabaya on November 28th, 1977. In 2004, the
Company changed its name from PT Aneka Kimia Raya Tbk. to PT AKR Corporindo Tbk. The Company
started its commercial operations in June 1978.
The Company’s scope of activities comprises of chemical industry, general trading and distribution
of primarily chemical products and petroleum products and gas, engaging in the logistics business,
transportation (including for own use and for transport operations by land or sea and operations of
pipe for sea transportation infrastructure), rental of warehouses and storage tanks, including
workshop, expedition and packaging, conducting a business and acting as a representative and/or
an agent, with distributorship agreements with foreign and local entities, contractors and other
services except legal services.
The Company is domiciled at Wisma AKR, 8th Floor, JI. Panjang No. 5, Kebon Jeruk, Jakarta. Its major
branch office is located at JIn. Sumatra No. 51-53, Surabaya. Other sales offices also the tank
terminals are located in Medan, Palembang, Lampung, Ciwandan (Banten), Bandung, Semarang,
Pontianak, Balikpapan, Banjarmasin, Stagen (South Kalimantan), Makassar, Manado and Bali. The
Company also has a representative office in Guigang, China.
PT AKR Corporindo Tbk. reported that the Company has been appointed by BPH Migas as the
Implementing Business Entity to Procure and Distribute Certain type of Fuels for the next 5 years
from 2018 to 2022. In 2018, AKR will get quota of 250,000 KL diesel fuel to be distributed
throughout Indonesia.
During 2018, awards for PT AKR Corporindo Tbk. : Best Company for Anugrah Perusahaan Tbk
Indonesia V- 2018 in Production Goods Wholesale Trade Segment and Best Company (2nd) for
Indonesia Finance Award I- 2018 in Production Goods Wholesale Trade Segment, Top 50 Big
Capitalization Public Listed Company with Good Corporate Governance, IICD, The 10th CG
Conference & Award 2018, The 50 Big Capitalization Listed Company, The Most Valuable Brands
2018 by Brand Finance PLC, Etc.
As of September 30th, 2018, the Company and subsidiaries had 1,909 permanent employees.
FEBRUARY 2019
Disclaimer:

AKRA AKR Corporindo Tbk.

Industry Sector : Trade, Services & Investment (9) Listed Shares : 4,014,694,920
Industry Sub Sector : Wholesale (Durable & Non-Durable Goods) (91) Market Capitalization : 21,077,148,330,000
59 | 21.1T | 0.28% | 76.50%
42 | 11.7T | 0.57% | 70.51%

Established Date : 28-Nov-1977 1. PT Arthakencana Rayatama 2,369,056,120 : 59.01%
Listing Date : 03-Oct-1994 (IPO Price: 4,000) 2. Public (<5%) 1,645,638,800 : 40.99%
Underwriter IPO :
PT Lippo Securities DIVIDEND ANNOUNCEMENT
F/I
PT Raya Saham Registra Year Shares Dividend Cum Date Ex Date Date Date
2010 30.00 19-Nov-10 22-Nov-10 24-Nov-10 9-Dec-10 I
BOARD OF COMMISSIONERS 2010 135.00 11-Mar-11 14-Mar-11 16-Mar-11 29-Mar-11 I
1. Soegiarto Adikoesoemo 2010 2.00 31-May-11 1-Jun-11 6-Jun-11 20-Jun-11 F
2. I Nyoman Mastra *) 2011 200.00 22-Aug-11 23-Aug-11 25-Aug-11 8-Sep-11 I
3. Mahendra Siregar 2011 25.00 6-Jun-12 7-Jun-12 11-Jun-12 25-Jun-12 F
*) Independent Commissioners 2012 40.00 26-Dec-12 27-Dec-12 2-Jan-13 16-Jan-13 I
2012 65.00 31-May-13 3-Jun-13 5-Jun-13 20-Jun-13 F
BOARD OF DIRECTORS 2013 50.00 18-Sep-13 19-Sep-13 23-Sep-13 4-Oct-13 I
1. Haryanto Adikoesoemo 2013 65.00 5-Jun-14 6-Jun-14 10-Jun-14 24-Jun-14 F
2. Arief Budiman Utomo 2014 50.00 9-Sep-14 10-Sep-14 12-Sep-14 26-Sep-14 I
3. Bambang Soetiono Soedijanto 2014 80.00 12-May-15 13-May-15 18-May-15 29-May-15 F
4. Jimmy Tandyo 2015 100.00 7-Aug-15 8-Aug-15 12-Aug-15 21-Aug-15 I
5. Mery Sofi 2015 20.00 9-May-16 10-May-16 12-May-16 25-May-16 F
6. Nery Polim 2016 70.00 2-Aug-16 3-Aug-16 5-Aug-16 25-Aug-16 I
7. Suresh Vembu 2016 50.00 28-Apr-17 2-May-17 4-May-17 19-May-17 F
8. Termurti Tiban 2017 100.00 1-Aug-17 2-Aug-17 4-Aug-17 15-Aug-17 I
2017 100.00 11-May-18 14-May-18 16-May-18 25-May-18 F
AUDIT COMMITTEE 2018 120.00 11-Jul-18 12-Jul-18 16-Jul-18 3-Aug-18 I
1. I Nyoman Mastra
2. Edwin Gerungan ISSUED HISTORY
3. Sahat Pardede Listing Trading
CORPORATE SECRETARY 1. First Issue 15,000,000 3-Oct-94 3-Oct-94
Harryati Utami 2. Company Listing 50,000,000 T: 3-Oct-94 : 6-May-95
3. Bonus Shares 39,000,000 1-Apr-96 1-Apr-96
HEAD OFFICE 4. Stock Split 2,600,000,000 T: 30-Sep-96 : 27-Jul-07
AKR Building 8th Floor 5. Right Issue 1,043,658,500 T: 20-Dec-04 : 16-Feb-10
Jl. Panjang No.5, Kebon Jeruk 6. OPSI Conversion 18,292,500 T: 11-Apr-08 : 15-Oct-09
Jakarta 11530 7. Opsi MSOP Conversion 248,743,920 T: 9-Apr-10 : 12-Apr-18
Phone : (021) 531-1110
Fax : (021) 531-1388
Email : ir@akr.co.id
investor@akr.co.id
harryati.utami@akr.co.id


TRADING ACTIVITIES
AKR Corporindo Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
10,000 160 Jan-15 4,750 4,110 4,695 50,776 274,374 1,245,406 21
Feb-15 4,920 4,565 4,870 27,389 161,693 768,346 19
8,750 140 Mar-15 5,200 4,800 5,125 24,742 198,686 999,074 22
Apr-15 5,675 4,960 5,200 32,243 261,347 1,384,596 21
May-15 5,775 5,000 5,475 22,396 111,597 601,606 19
7,500 120
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
6,250 100
Aug-15 6,100 5,225 6,075 34,867 161,322 912,186 20
Sep-15 6,075 5,500 5,850 45,702 175,509 1,012,181 21
5,000 80
Oct-15 6,225 5,600 5,900 68,112 205,663 1,197,809 21
Nov-15 6,200 5,775 6,100 70,486 339,847 2,046,075 21
3,750 60 Dec-15 7,300 6,075 7,175 45,178 156,416 1,055,458 19
2,500 40 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
1,250 20 Mar-16 8,075 6,750 6,950 62,967 158,482 1,164,531 21
Apr-16 7,100 6,350 6,500 52,211 183,729 1,240,587 21
May-16 6,500 5,725 6,400 55,208 207,763 1,272,982 20
Jun-16 6,475 5,800 6,400 42,995 187,797 1,152,130 22
Jul-16 6,925 6,400 6,750 38,261 108,541 727,304 16
Aug-16 7,100 6,550 6,675 43,220 142,869 969,694 22
Sep-16 6,950 6,200 6,450 30,439 95,807 637,583 21
Trade, Sevices and Investment Index Nov-16 7,075 6,300 6,675 41,080 93,118 629,803 22
January 2015 - January 2019 Dec-16 6,775 5,400 6,000 44,065 95,054 587,752 20
90%
Jan-17 6,875 5,650 6,675 29,072 87,885 552,709 21
75% Feb-17 6,975 6,100 6,350 33,583 103,395 676,591 19
Mar-17 6,750 6,050 6,250 43,221 156,567 995,019 22
60% Apr-17 6,900 6,125 6,775 23,772 140,743 911,661 17
May-17 6,825 6,200 6,625 32,483 190,007 1,212,976 20
45% Jun-17 6,750 6,275 6,525 22,757 148,574 961,251 15
Jul-17 6,900 6,250 6,900 33,588 182,010 1,169,054 21
Aug-17 7,000 6,500 6,775 24,600 161,013 1,074,865 22
30%
24.6% Sep-17 7,275 6,725 7,100 27,515 142,978 1,001,644 19
Oct-17 8,025 6,850 7,450 33,955 142,553 1,039,572 22
15% 16.7%
Nov-17 7,700 6,325 6,350 42,017 128,417 901,321 22
Dec-17 6,475 5,925 6,350 32,337 104,789 651,083 18
-
-9.5% Jan-18 6,575 6,150 6,225 40,989 131,444 827,696 22

-15% Feb-18 6,300 5,400 6,100 48,431 170,259 1,004,119 19
Mar-18 6,150 5,500 5,675 37,538 146,539 860,620 21
-30% Apr-18 5,875 4,820 4,900 31,292 171,246 947,095 21
Jan 15 Jan 16 Jan 17 Jan 18 Jan 19 May-18 4,950 4,450 4,920 50,788 286,068 1,334,458 20
Jun-18 5,075 3,960 4,300 46,976 184,871 832,400 13
Jul-18 4,780 3,960 4,210 45,163 179,458 807,741 22
SHARES TRADED 2015 2016 2017 2018 Jan-19 Aug-18 4,420 3,610 3,610 66,943 370,986 1,436,543 21
Volume (Million Sh.) 2,316 1,705 1,689 2,588 211 Sep-18 3,700 3,220 3,670 53,585 285,298 1,001,570 19
Value (Billion Rp) 12,745 11,522 11,148 11,593 982 Oct-18 4,130 3,410 3,460 44,947 276,625 1,030,092 23
Days 244 246 238 240 22 Dec-18 4,430 3,780 4,290 38,896 182,523 773,126 18
Price (Rupiah) Jan-19 5,300 4,160 5,250 53,349 210,587 981,530 22

High 7,300 8,450 8,025 6,575 5,300
Low 4,110 5,400 5,650 3,220 4,160
Close 7,175 6,000 6,350 4,290 5,250
Close* 7,175 6,000 6,350 4,290 5,250
PER (X) 27.41 22.65 21.17 10.21 12.49

PER Industry (X) 14.53 19.07 17.44 5.25 6.49
PBV (X) 3.89 3.06 2.82 1.80 2.20


Public Accountant : Purwantono, Sungkoro & Surja
Receivables 4,350,615 3,093,357 2,600,467 2,787,659 4,225,222

934,877 2,598,793 862,466 1,072,638 1,518,144 17,000
Inventories
Current Assets 6,719,745 7,285,599 7,391,379 8,816,349 12,049,643
12,750
Fixed Assets 4,390,207 4,469,498 4,561,738 4,214,694 4,485,988
Other Assets 21,220 40,963 47,249 51,034 385,763
8,500
Total Assets 14,791,917 15,203,130 15,830,741 16,823,209 20,580,028
Growth (%) 2.78% 4.13% 6.27% 22.33% 4,250

Growth (%) -10.35% -2.03% 0.48% 41.21%
Authorized Capital 750,000 750,000 750,000 750,000 750,000 9,575
Paid up Capital 391,364 393,971 399,178 400,633 401,469 9,575
9,030
8,074
7,286
Par Value 100 100 100 100 100
7,621
5,961
Total Equity 5,961,183 7,286,175 8,074,320 9,029,649 9,574,525
5,668
Growth (%) 22.23% 10.82% 11.83% 6.03% 3,715
Total Revenues 22,468,328 19,764,821 15,212,591 18,287,936 16,828,579

Growth (%) -12.03% -23.03% 20.22%
-191
2014 2015 2016 2017 Sep-18
Cost of Revenues 20,736,407 17,548,827 13,337,659 16,420,654 15,614,816

Gross Profit 1,731,920 2,215,994 1,874,932 1,867,281 1,213,762
Expenses (Income) 695,937 866,825 685,931 730,411 512,503
Operating Profit 1,063,170 1,349,170 1,175,362 1,136,871 701,259 22,468
Growth (%) 26.90% -12.88% -3.27% 19,765

22,468
18,288
16,829
15,213
17,885
Other Income (Expenses) -69,826 -32,149 -19,195 19,359 -16,919

Income before Tax 993,344 1,317,021 1,118,547 1,156,230 684,340 13,301
Tax 202,780 233,174 71,695 154,915 11,320

Profit for the period 790,563 1,058,741 1,046,852 1,304,601 673,020 8,718
Growth (%) 33.92% -1.12% 24.62%

4,134
Period Attributable 810,094 1,033,630 1,010,786 1,201,667 1,297,602 -449
Comprehensive Income 739,586 1,084,776 901,038 1,340,604 724,287 2014 2015 2016 2017 Sep-18
Comprehensive Attributable 756,333 1,046,610 878,161 1,234,585 1,319,967
Current Ratio (%) 108.67 149.56 127.09 162.38 148.35
1,305
Dividend (Rp) 130.00 120.00 120.00 200.00 120.00 1,305
EPS (Rp) 206.99 262.36 253.22 299.94 323.21 1,059 1,047

BV (Rp) 1,523.18 1,849.42 2,022.74 2,253.85 2,384.87 1,038
791
DAR (X) 0.60 0.52 0.49 0.46 0.53
673
DER(X) 1.48 1.09 0.96 0.86 1.15
772
ROA (%) 5.34 6.96 6.61 7.75 3.27 506
ROE (%) 13.26 14.53 12.97 14.45 7.03

GPM (%) 7.71 11.21 12.32 10.21 7.21 240
OPM (%) 4.73 6.83 7.73 6.22 4.17

NPM (%) 3.52 5.36 6.88 7.13 4.00
-26
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 62.80 45.74 47.39 66.68 37.13
Yield (%) 3.16 1.67 2.00 3.15 3.27
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

ANEKA TAMBANG TBK.

Company Profile
PT Aneka Tambang Tbk. was established dated July 5rd, 1968. The company is a vertically integrated,
export-oriented, diversified mining and metals company in Indonesia. With operations spread
throughout the mineral-rich Indonesian archipelago, the company undertakes all activities from
exploration, exploitation, processing, refining to the marketing of nickel ore, ferronickel, gold, silver,
bauxite and coal and precious metals refining services.
The company makes its cash by exploring and discovering mineral deposits, extracting them and
processing them as economically and correctly as possible and selling them to long term loyal
customers in Europe and Asia. The company has been doing this profitably since its inception in 1968
and plans to continuing doing this for many years ahead.
The company’s main products are high grade nickel ore, also known as saprolite, low grade nickel ore,
also known as limonite, ferronickel, gold, silver, and bauxite. The company’s main services are precious
metal refining and geological services.
The company adopts corporate values known as PIONEER (Professionalism, Integrity, Global Mentality,
Harmony, Excellence, Reputation), which is actualized from a leadership with SENSE (Speed, Energize,
Respect, Courage) that will lead ANTAM workforce to an Human Capital excellence level that meet the
BEST (Beyond Expectations, Environment Awareness, Synergized Partnership) criteria.
External Accolades and Recognitions: Indonesia Green Awards 2017, The Winner of Indonesia Most
Innovative Business Award 2017 Category of Steel and Other Minerals, The 1st Champion of Indonesia
Original Brands 2017 - Precious Metals Category, Indonesia Sustainable Development Goals (ISDA)
Awards 2017, The 1st ASEAN Mineral Awards di Myanmar, The Best Environmental Management
Category on the Indonesian Mining Association (IMA) Award 2018, Three Green Ratings and Three Blue
Ratings during the PROPER Award 2017-2018 The Top 50 ASEAN Public Listed Companies at the
2nd ASEAN Corporate Governance Awards
The Company’s head office is domiciled in Jakarta and located at Aneka Tambang Building, Jl. Letjen TB
Simatupang No 1 Lingkar Selatan, Tanjung Barat, Jakarta 12530. As of September 30th, 2018, the
company and subsidiaries had 3,138 permanent employees.
PT Aneka Tambang Tbk is pleased to announce the Company has signed the Share Purchase Agreement
(SPA) deed as a final phase of the purchase of Showa Denko K.K (SDK) Japan's shares in PT Indonesia
Chemical Alumina (PT ICA). The SPA signing ceremony was held on December 28, 2018 in Jakarta
February 2019
Disclaimer:
those of the publisher or of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information
contained within the publication it should not be by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange
cannot be held liable or otherwise responsible in anyway for any advice action taken or decision made on the basis of the facts and opinions stated or expressed
or stated within this publication.

ANTM Aneka Tambang Tbk.

Industry Sub Sector : Metal And Mineral Mining (23) Market Capitalization : 23,189,687,959,625
53 | 23.2T | 0.31% | 74.73%
34 | 17.3T | 0.83% | 64.99%

Established Date : 05-Jul-1968 1. PT Indonesia Asahan Aluminium (Persero) 15,619,999,999 : 65.00%
Listing Date : 27-Nov-1997 (IPO Price: 1,400) 2. Public (<5%) 8,410,764,726 : 35.00%
Underwriter IPO :
Danarkesa Sekuritas DIVIDEND ANNOUNCEMENT
Bahana Securities Bonus Cash Recording Payment
F/I
Pentasena Arthasentosa Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1997 11.00 29-Jun-98 30-Jun-98 9-Jul-98 6-Aug-98 F
PT Datindo Entrycom 1997 11.59 1-Oct-98 2-Oct-98 12-Oct-98 9-Nov-98 F
1998 50.00 29-Jun-99 30-Jun-99 8-Jul-99 6-Aug-99 F
BOARD OF COMMISSIONERS 1998 53.87 4-Oct-99 5-Oct-99 13-Oct-99 10-Nov-99 F
1. Fachrul Razi 1999 79.19 5-Jun-00 6-Jun-00 14-Jun-00 28-Jun-00 F
2. Anang Sri Kusuwardono *) 2000 80.00 23-Jul-01 24-Jul-01 27-Jul-01 10-Aug-01 F
3. Gumilar Rusliwa Somantri *) 2000 75.66 23-Oct-01 24-Oct-01 29-Oct-01 12-Nov-01 F
4. Robert A. Simanjuntak 2001 100 : 55 10-Jul-02 11-Jul-02 17-Jul-02 30-Jul-02 BS
5. Zaelani 2001 47.10 5-Aug-02 6-Aug-02 9-Aug-02 23-Aug-02 F
*) Independent Commissioners 2001 46.77 28-Oct-02 29-Oct-02 1-Nov-02 15-Nov-02 F
2002 34.42 17-Jul-03 18-Jul-03 21-Jul-03 5-Aug-03 F
BOARD OF DIRECTORS 2003 38.60 18-Jun-04 21-Jun-04 23-Jun-04 30-Jun-04 F
1. Arie Prabowo Ariotedjo 2004 19.60 23-Dec-04 27-Dec-04 29-Dec-04 10-Jan-05 I
2. Dimas Wikan Pramudhito 2004 128.48 20-Jun-05 21-Jun-05 23-Jun-05 30-Jun-05 F
3. Hari Widjajanto 2005 150.05 22-Jun-06 23-Jun-06 27-Jun-06 11-Jul-06 F
4. Johan N. B. Nababan 2006 325.58 21-Jun-07 22-Jun-07 26-Jun-07 6-Jul-07 F
5. Sutrisno S. Tatetdagat 2007 215.23 17-Jul-08 18-Jul-08 22-Jul-08 1-Aug-08 F
6. Tatang Hendra 2008 57.47 17-Jun-09 18-Jun-09 22-Jun-09 3-Jul-09 F
2009 25.38 28-Jun-10 29-Jun-10 1-Jul-10 15-Jul-10 F
AUDIT COMMITTEE 2010 70.71 6-Jul-11 7-Jul-11 11-Jul-11 25-Jul-11 F
1. Gumilar Rusliwa Somantri 2011 90.99 27-Jun-12 28-Jun-12 2-Jul-12 16-Jul-12 F
2. Musyid Amal 2012 47.09 29-May-13 30-May-13 3-Jun-13 18-Jun-13 F
3. Rukmana Nugraha Adhi 2013 9.67 29-Apr-14 30-Apr-14 5-May-14 20-May-14 F
4. Zaelani 2017 1.99 19-Apr-18 20-Apr-18 24-Apr-18 16-May-18 I
CORPORATE SECRETARY ISSUED HISTORY

Aprilandi Hidayat Setia Listing Trading
HEAD OFFICE 1. Negara RI (Series A) 1 27-Nov-97 16-Jun-10
Aneka Tambang Building Tower A 2. First Issue 430,769,000 27-Nov-97 27-Nov-97
Jl. TB. Simatupang No. 1, Lingkar Selatan Tanjung Barat 3. Company Listing 799,999,999 27-Nov-97 31-Jul-98
Jakarta 12530 4. Bonus Shares 676,922,950 30-Jul-02 30-Jul-02
Phone : (021) 789-1234 5. Stock Split 7,630,767,800 12-Jul-07 12-Jul-07
Fax : (021) 789-1224 6. Right Issue 9,770,941,207 27-Oct-15 27-Oct-15
Homepage : www.astragraphia.co.id 7. Right Issue 1,419,898,697 28-Oct-15 28-Oct-15
Email : corsec@antam.com 8. Right Issue 1,738,706,667 30-Oct-15 30-Oct-15
9. Right Issue 1,144,096,939 2-Nov-15 2-Nov-15
10. Right Issue 418,661,465 3-Nov-15 3-Nov-15


TRADING ACTIVITIES
Aneka Tambang Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
1,000 800 Jan-15 1,135 1,015 1,065 27,277 358,666 386,504 21
Feb-15 1,080 990 1,005 15,857 198,657 206,880 19
875 700 Mar-15 1,020 850 865 18,637 173,597 176,292 22
Apr-15 925 790 795 13,826 119,720 111,098 21
May-15 840 760 760 14,217 142,077 114,866 19
750 600
Jun-15 780 675 680 14,582 105,278 77,529 21
Jul-15 685 475 475 16,768 144,244 131,865 19
625 500
Aug-15 655 450 500 46,189 739,580 428,743 20
Sep-15 540 465 486 34,277 416,378 208,489 21
500 400
Oct-15 540 372 378 131,861 3,888,004 1,600,412 21
Nov-15 380 306 315 131,304 4,300,732 1,499,127 21
375 300 Dec-15 337 285 314 50,579 1,421,659 445,595 19
250 200 Jan-16 335 292 329 62,777 2,410,865 759,355 20

Feb-16 375 328 364 53,244 2,717,517 984,664 20
125 100 Mar-16 481 360 464 79,723 4,128,364 1,879,203 21
Apr-16 775 458 760 113,912 5,409,195 3,476,843 21
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
Aug-16 840 695 720 68,878 1,699,867 1,345,673 22
Sep-16 850 615 820 77,349 2,673,099 1,983,203 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-16 900 770 895 77,772 4,196,316 3,612,322 21
Mining Index Nov-16 1,005 865 970 85,469 3,883,073 3,643,626 22
January 2015 - January 2019 Dec-16 980 850 895 41,128 1,547,377 1,400,943 20
80%
Jan-17 930 795 800 60,157 1,892,375 1,625,427 21
60% Feb-17 860 740 745 50,104 977,952 785,183 19
Mar-17 785 690 730 50,757 842,749 625,636 22
40% 40.5% Apr-17 745 690 695 30,088 389,439 277,889 17
May-17 790 595 775 56,729 1,520,556 1,076,788 20
24.6% Jun-17 780 690 695 27,157 691,973 509,036 15
20%
Jul-17 740 685 690 25,623 923,184 691,781 21
9.9%
Aug-17 765 645 740 60,438 1,430,385 1,031,233 22
-
Sep-17 755 620 640 39,750 839,911 579,507 19
Oct-17 675 635 645 24,688 518,189 344,558 22
-20%
Nov-17 725 645 665 53,627 1,237,669 851,948 22
Dec-17 665 600 625 19,555 896,922 661,195 18
-40%
Jan-18 940 625 915 98,849 3,226,607 2,534,952 22

-60% Feb-18 960 790 955 64,684 1,715,448 1,527,403 19
Mar-18 955 765 775 47,690 1,934,347 1,642,657 21
-80% Apr-18 945 775 845 66,456 2,187,406 1,884,055 21
Jan 15 Jan 16 Jan 17 Jan 18 Jan 19 May-18 900 775 865 52,319 946,527 801,124 20
Jun-18 1,015 805 890 65,860 2,153,604 2,002,910 13
Jul-18 960 765 915 91,636 1,801,765 1,589,614 22
SHARES TRADED 2015 2016 2017 2018 Jan-19 Aug-18 955 825 5,220 469,584 9,153,162 8,135,467 126
Volume (Million Sh.) 12,009 35,906 12,161 56,910 5,282 Sep-18 860 755 5,070 461,166 7,809,210 6,342,353 114
Value (Billion Rp) 5,387 24,492 9,060 45,388 4,541 Oct-18 845 665 4,080 511,464 8,632,423 6,605,129 138
Frequency (Thou. X) 515 871 499 2,930 282 Nov-18 720 595 3,690 455,352 6,578,207 4,373,464 126
Days 244 246 238 750 44 Dec-18 795 640 4,590 544,740 10,771,087 7,948,618 108
Price (Rupiah) Jan-19 980 735 1,930 281,780 5,282,189 4,540,646 44

High 1,135 1,005 930 1,015 980
Low 285 292 595 595 735
Close 314 895 625 4,590 1,930
Close* 314 895 625 4,590 1,930
PER (X) -5.24 421.47 110.03 21.85 27.56

PER Industry (X) 0.60 -4.41 6.26 -1.03 0.14
PBV (X) 0.41 1.17 0.81 0.96 1.21


Public Accountant : Tanudiredja, Wibisana & Partners
Receivables 1,098,938 578,145 990,485 1,377,350 1,466,269

1,761,888 1,752,585 1,388,416 1,257,785 2,428,779 27,000
Inventories
Current Assets 6,343,110 11,252,827 10,630,222 9,001,939 10,915,853
20,250
Fixed Assets 8,699,660 12,267,804 12,958,946 14,092,995 15,251,360
Other Assets 88,724 81,249 74,723 280,586 180,601
13,500
Total Assets 22,044,202 30,356,851 29,981,536 30,014,273 32,846,366
Growth (%) 37.71% -1.24% 0.11% 9.44% 6,750

Growth (%) 19.04% -3.88% -0.42% 18.92%
18,317 18,409 18,490
Paid up Capital 953,846 2,403,076 2,403,076 2,403,076 2,403,076 19,143

Par Value 100 100 100 100 100
15,238
11,930
Total Equity 11,929,561 18,316,719 18,408,796 18,490,404 19,142,641
11,332
Growth (%) 53.54% 0.50% 0.44% 3.53% 7,427
Total Revenues 9,420,631 10,531,505 9,106,261 12,653,619 19,951,649

Growth (%) 11.79% -13.53% 38.96%
-383
2014 2015 2016 2017 Sep-18
Cost of Revenues 8,644,136 10,336,364 8,254,466 11,009,727 16,996,341

Gross Profit 776,495 195,141 851,795 1,643,892 2,955,308
Expenses (Income) 955,900 896,579 843,639 1,043,286 1,018,177
Operating Profit -179,405 -701,439 8,156 600,606 1,937,131 19,952
Growth (%) -290.98% N/A 7,263.93%

19,952
15,882
Other Income (Expenses) -653,730 -967,335 229,136 -146,210 -1,003,100 12,654

Income before Tax -833,135 -1,668,774 237,292 454,397 934,031 10,532
9,421 9,106
11,811
Tax -57,849 -227,921 172,485 317,893 302,901

Profit for the period -775,286 -1,440,853 64,806 136,503 631,129 7,741
Growth (%) -85.85% N/A 110.63%

3,671
Period Attributable -775,287 -1,440,852 64,810 136,503 631,129 -399
Comprehensive Income -775,179 912,556 92,077 81,608 700,030 2014 2015 2016 2017 Sep-18
Comprehensive Attributable -775,180 912,557 92,081 81,611 700,030
Current Ratio (%) 164.21 259.32 244.24 162.13 157.41
631
Dividend (Rp) - - - 1.99 - 631
EPS (Rp) -81.28 -59.96 2.70 5.68 26.26

137
1,250.68 762.22 766.05 769.45 796.59 65
BV (Rp) 2014 2015
217
DAR (X) 0.46 0.40 0.39 0.38 0.42

2016 2017 Sep-18
DER(X) 0.85 0.66 0.63 0.62 0.72
-198
ROA (%) -3.52 -4.75 0.22 0.45 1.92 -612
ROE (%) -6.50 -7.87 0.35 0.74 3.30

GPM (%) 8.24 1.85 9.35 12.99 14.81 -1,026
-775
OPM (%) -1.90 -6.66 0.09 4.75 9.71

NPM (%) -8.23 -13.68 0.71 1.08 3.16
-1,441
-1,441
Payout Ratio (%) - - - 35.03 -
Yield (%) - - - 0.32 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

ASTRA INTERNATIONAL TBK.
Company Profile
PT Astra International Tbk. was established in 1957 in Jakarta as a general trading company under the
name Astra International Inc. In 1990, for the purpose of the Company’s Initial Public Offering (IPO), the
name of the Company changed to PT Astra International Tbk., followed by listing its shares on the
Indonesia Stock Exchange.
The company is likely to retain its position as a top Indonesian company in the foreseeable future. The
company has developed its business by implementing a business model based on synergies and
diversification within seven business segments, consisting of: automotive, financial services, heavy
equipment and mining, agribusiness, infrastructure and logistics, information technology and property.
With a diversified business, the company has touched various aspects of national life through its products
and services. In everyday life, the people of Indonesia use motorcycles and cars, toll roads, printers, as
well as financial services, banking and insurance from Astra.
Other sectors that the company has started to tap (through its subsidiaries) are coal mining, agribusiness
(palm oil), information technology, infrastructure (toll roads, water supply in Jakarta and an oil tanking
terminal in Gresik), as well as IT solutions services.
In 2018 the company received awards: Best Public Company Award 2018, The Best Equitable Treatment
of Shareholders The Best Contact Center Indonesia (TBCCI) 2018, etc.
The first project is the construction of an office building through PT Menara Astra and the construction of
a premium residential cooperated with Hong Kong Land through PT Brahmayasa Bahtera.
The Company’s head office is domiciled in Jakarta and located at Jl. Gaya Motor Raya No. 8, Sunter II,
North Jakarta. The number of employees including joint ventures and associates, as of September 30th,
2018 was 150,341 employees.
February 2019
Disclaimer:

ASII Astra International Tbk.

Industry Sector : Miscellaneous Industry (4) Listed Shares : 40,483,553,140
Industry Sub Sector : Automotive And Components (42) Market Capitalization : 342,086,024,033,000
7 | 342.1T | 4.61% | 41.23%
5 | 75.8T | 3.65% | 24.61%

Established Date : 20-Feb-1957 1. Jardine Cycle & Carriage Limited 20,288,255,040 : 50.11%
Listing Date : 04-Apr-1990 (IPO Price: 14,850) 2. Public (<5%) 20,195,298,100 : 49.89%
Underwriter IPO :
PT Danareksa Sekuritas DIVIDEND ANNOUNCEMENT
F/I
1995 90.00 25-Jun-96 26-Jun-96 4-Jul-96 31-Jul-96 F
BOARD OF COMMISSIONERS 1996 120.00 30-Jun-97 1-Jul-97 9-Jul-97 29-Jul-97 F
1. Budi Setiadharma 2003 50.00 1-Dec-03 2-Dec-03 4-Dec-03 18-Dec-03 I
2. Adrian Teng Wei Ann 2003 170.00 28-Jun-04 29-Jun-04 1-Jul-04 14-Jul-04 F
3. Anthony John Liddell Nightingale 2004 100.00 1-Nov-04 2-Nov-04 4-Nov-04 12-Nov-04 I
4. Benjamin William Keswick 2004 270.00 16-Jun-05 17-Jun-05 21-Jun-05 4-Jul-05 F
5. David Alexander Newbigging 2005 100.00 9-Nov-05 10-Nov-05 14-Nov-05 24-Nov-05 I
6. John Raymond Witt 2005 340.00 15-Jun-06 16-Jun-06 20-Jun-06 4-Jul-06 F
7. Mark Spencer Greenberg 2006 150.00 20-Oct-06 30-Oct-06 1-Nov-06 15-Nov-06 I
8. Muhamad Chatib Basri *) 2006 290.00 14-Jun-07 15-Jun-07 19-Jun-07 3-Jul-07 F
9. Sri Indrastuti Hadiputranto *) 2007 160.00 29-Oct-07 30-Oct-07 1-Nov-07 15-Nov-07 I
10. Takayuki Yoshitsugu *) 2008 300.00 28-Oct-08 29-Oct-08 31-Oct-08 14-Nov-08 I
*) Independent Commissioners 2008 570.00 17-Jun-09 18-Jun-09 22-Jun-09 3-Jul-09 F
2009 830.00 16-Jun-10 17-Jun-10 21-Jun-10 5-Jul-10 F
BOARD OF DIRECTORS 2010 470.00 27-Oct-10 28-Oct-10 1-Nov-10 15-Nov-10 I
1. Prijono Sugiarto 2011 600.00 26-Oct-11 27-Oct-11 31-Oct-11 14-Nov-11 I
2. Bambang Widjanarko Santoso 2011 1,380.00 16-May-12 21-May-12 23-May-12 6-Jun-12 F
3. Chiew Sin Cheok 2012 66.00 18-Oct-12 19-Oct-12 23-Oct-12 7-Nov-12 I
4. Djony Bunarto Tjondro 2012 150.00 20-May-13 21-May-13 23-May-13 7-Jun-13 F
5. Gidion Hasan 2013 64.00 10-Oct-13 11-Oct-13 17-Oct-13 31-Oct-13 I
6. Gita Tiffani Boer 2013 152.00 22-May-14 23-May-14 28-May-14 12-Jun-14 F
7. Henry Tanoto 2014 64.00 14-Oct-14 15-Oct-14 17-Oct-14 31-Oct-14 I
8. Johannes Loman 2014 152.00 6-May-15 7-May-15 11-May-15 29-May-15 F
9. Santosa 2015 64.00 25-Sep-15 28-Sep-15 30-Sep-15 21-Oct-15 I
10. Suparno Djasmin 2015 113.00 4-May-16 9-May-16 11-May-16 27-May-16 F
2016 55.00 26-Sep-16 27-Sep-16 29-Sep-16 21-Oct-16 I
AUDIT COMMITTEE 2016 113.00 28-Apr-17 2-May-17 4-May-17 19-May-17 F
1. Muhamad Chatib Basri 2017 55.00 2-Oct-17 3-Oct-17 5-Oct-17 27-Oct-17 I
2. Adrian Teng Wei Ann 2017 130.00 3-May-18 4-May-18 8-May-18 25-May-18 F
3. Angky Utarya Tisnadisastra 2018 60.00 4-Oct-18 5-Oct-18 9-Oct-18 31-Oct-18 I
4. Lindawati Gani
ISSUED HISTORY
CORPORATE SECRETARY Listing Trading
Gita Tiffany Boer No. Type of Listing Shares Date Date
1. First Issue 30,000,000 4-Apr-90 4-Apr-90
HEAD OFFICE 2. Partial Listing 24,805,000 T: 4-Apr-90 : 4-Oct-90
Astra Building 3. Company Listing 184,893,000 T: 18-Dec-91 : 2-Jan-92
Jl. Jenderal Sudirman Kav 5-6 4. Koperasi 2,500,000 T: 18-Dec-91 : 31-Dec-99
Jakarta 10250 5. Right Issue 1,453,219,775 T: 3-Jan-94 : 21-Jan-03
Phone : (021) 5082-1997 6. Bonus Shares 871,912,800 8-Sep-94 8-Sep-94
Fax : (021) 6530-4957 7. CB Conversion 280,837 T: 12-Mar-97 : 7-Aug-97
Homepage : www.astragraphia.co.id 8. Stock Split 37,598,029,063 T: 1-Sep-97 : 5-Jun-12
Email : corcomm@ai.astra.co.id 9. Right Conversion 262,168,650 T: 24-Apr-00 : 19-Jan-04
investor@ai.astra.co.id 10. Option I 8,637,003 T: 16-Oct-00 : 16-Feb-01
11. Option I Conversion 16,203,924 T: 31-Jul-01 : 26-Apr-02
12. Option II Conversion 30,903,088 T: 26-Apr-02 : 25-May-04


TRADING ACTIVITIES
Astra International Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
10,000 320 Jan-15 8,100 7,000 7,850 80,784 804,490 6,050,554 21
Feb-15 8,175 7,450 7,850 72,728 692,429 5,401,520 19
8,750 280 Mar-15 8,575 7,800 8,575 77,266 1,094,749 8,817,908 22
Apr-15 8,575 6,700 6,850 81,463 962,611 7,475,288 21
May-15 7,950 6,950 7,300 64,001 657,248 4,891,329 19
7,500 240
Jun-15 7,350 6,550 7,075 79,359 735,267 5,126,440 21
Jul-15 7,150 6,325 6,650 62,675 381,032 2,576,235 19
6,250 200
Aug-15 6,875 5,450 5,925 83,564 881,000 5,385,567 20
Sep-15 6,200 4,975 5,225 79,802 590,132 3,412,962 21
5,000 160
Oct-15 6,875 5,075 5,900 120,523 1,170,631 7,099,297 21
Nov-15 6,850 5,800 5,925 105,808 1,168,021 7,428,850 21
3,750 120 Dec-15 6,600 5,800 6,000 102,962 1,002,948 6,241,308 19
2,500 80 Jan-16 6,450 5,700 6,450 100,020 1,286,937 7,745,522 20

Feb-16 7,150 6,050 6,800 114,269 1,323,536 8,865,281 20
1,250 40 Mar-16 7,525 6,575 7,250 97,271 1,019,546 7,273,311 21
Apr-16 7,850 6,600 6,725 85,928 904,645 6,505,517 21
May-16 6,800 6,000 6,600 83,719 892,157 5,771,878 20
Jun-16 7,400 6,500 7,400 95,059 976,858 6,664,491 22
Jul-16 7,825 6,975 7,725 85,978 1,025,887 7,578,146 16
Aug-16 8,650 7,650 8,150 107,608 1,328,778 10,777,443 22
Sep-16 8,875 7,700 8,250 90,887 905,514 7,520,722 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-16 8,600 8,075 8,225 83,200 790,440 6,572,517 21
Miscellaneous Industry Index Nov-16 8,400 7,300 7,550 107,226 978,647 7,745,903 22
40%
Jan-17 8,250 7,900 7,950 64,767 515,769 4,162,657 21
30% Feb-17 8,425 7,850 8,200 69,729 619,361 5,009,369 19
24.6% Mar-17 8,800 8,100 8,625 86,727 1,253,345 10,615,445 22
20% Apr-17 9,350 8,350 8,950 70,794 583,383 5,095,422 17
May-17 9,050 8,325 8,750 89,112 739,914 6,440,409 20
14.2%
10% 11.2% Jun-17 9,150 8,650 8,925 51,178 501,548 4,444,226 15
Jul-17 9,025 7,900 7,975 86,368 1,096,363 9,273,202 21
Aug-17 8,050 7,650 7,875 86,524 939,312 7,395,704 22
-
Sep-17 7,950 7,625 7,900 59,509 906,857 5,034,874 19
Oct-17 8,525 7,800 8,000 78,494 622,576 5,029,083 22
-10%
Nov-17 8,600 7,975 7,975 71,522 707,716 5,845,364 22
Dec-17 8,475 7,975 8,300 70,522 625,556 5,132,392 18
-20%
Jan-18 8,750 8,000 8,500 90,912 764,322 6,372,847 22

-30% Feb-18 8,750 8,000 8,075 71,003 633,775 5,271,947 19
Mar-18 8,200 7,050 7,300 108,407 940,206 7,095,199 21
-40% Apr-18 7,975 7,050 7,150 70,582 666,391 4,990,119 21
Jun-18 7,100 6,275 6,600 67,440 726,895 4,915,951 13
Jul-18 7,150 6,100 7,150 88,391 737,595 4,872,118 22
Frequency (Thou. X) 1,011 1,131 885 1,090 146 Nov-18 8,625 7,825 8,550 110,038 1,061,823 8,776,820 21
Days 244 246 238 240 22 Dec-18 8,775 8,050 8,225 109,043 865,763 7,213,257 18
Price (Rupiah) Jan-19 8,550 7,950 8,450 146,053 1,025,915 8,475,751 22

High 8,575 8,875 9,350 8,775 8,550
Low 4,975 5,700 7,625 6,100 7,950
Close 6,000 8,275 8,300 8,225 8,450
Close* 6,000 8,275 8,300 8,225 8,450
PER (X) 16.79 22.28 17.80 14.63 15.03

PER Industry (X) 0.95 13.86 4.78 16.15 17.64
PBV (X) 1.92 2.54 2.15 1.98 2.04


Receivables 54,759,000 53,005,000 55,063,000 61,949,000 36,061,000

16,986,000 18,337,000 17,771,000 19,504,000 24,357,000 270,000
Inventories
Current Assets 97,241,000 105,161,000 110,403,000 121,293,000 142,063,000
202,500
Fixed Assets 41,250,000 41,702,000 43,237,000 48,402,000 6,299,000
Other Assets 2,869,000 2,978,000 3,007,000 4,846,000 6,072,000
135,000
Total Assets 236,029,000 245,435,000 261,855,000 295,646,000 333,325,000
Growth (%) 3.99% 6.69% 12.90% 12.74% 67,500

Growth (%) 2.76% 2.56% 14.24% 18.72%
Paid up Capital 2,024,178 2,024,000 2,024,178 2,024,178 2,024,178 167,931 156,329
40,484 40,480 40,484 40,484 40,484 139,906

Paid up Capital (Shares)
126,533
50 50 50 50 50 120,324
Par Value
133,673

Total Equity 120,324,000 126,533,000 139,906,000 156,329,000 167,931,000
99,415
Growth (%) 5.16% 10.57% 11.74% 7.42% 65,157
Total Revenues 201,701,000 184,196,000 181,084,000 206,057,000 174,881,000

Growth (%) -8.68% -1.69% 13.79%
-3,359
2014 2015 2016 2017 Sep-18
Cost of Revenues 162,892,000 147,486,000 144,652,000 163,689,000 138,179,000

Gross Profit 38,809,000 36,710,000 36,432,000 42,368,000 36,702,000
Expenses (Income) 11,457,000 17,080,000 14,179,000 13,172,000 9,517,000
Operating Profit - - - - - 201,701 206,057
184,196 181,084
Growth (%)
206,057
174,881
164,021
Other Income (Expenses) - - - - -

Tax 5,227,000 4,017,000 3,951,000 6,031,000 5,668,000

Growth (%) -29.43% 17.22% 26.57%

37,914
Period Attributable 19,181,000 14,464,000 15,156,000 18,881,000 17,073,000 -4,121
Current Ratio (%) 132.26 137.93 123.94 122.86 123.04
23,165
216.00 177.00 168.00 185.00 60.00 22,125
Dividend (Rp) 23,165 21,517
EPS (Rp) 473.80 357.31 374.37 466.39 421.73 18,302
BV (Rp) 2,972.17 3,125.82 3,455.87 3,861.54 4,148.13 18,439
15,613
DAR (X) 0.49 0.48 0.47 0.47 0.50
DER(X) 0.96 0.94 0.87 0.89 0.98
13,714
ROA (%) 9.37 6.36 6.99 7.84 6.46 8,988
ROE (%) 18.39 12.34 13.08 14.82 12.81

GPM (%) 19.24 19.93 20.12 20.56 20.99 4,262
OPM (%) - - - - -
NPM (%) 10.97 8.48 10.11 11.24 12.30
-463
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 45.59 49.54 44.87 39.67 14.23
Yield (%) 2.91 2.95 2.03 2.23 0.82
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

BANK CENTRAL ASIA TBK.

Company Profile
PT Bank Central Asia Tbk. was established under the name N.V. Perseroan Dagang dan Industrie
Semarang Knitting Factory on October 10th, 1955. The name has changed for several time, the
last change was on May 21st, 1974, which is PT Bank Central Asia.
The company began operations in banking since the date of October 12, 1956. The Bank
operates as a commercial bank. Bank engaged in banking and other financial services in
accordance with the regulations applicable in Indonesia. The company is Indonesia’s largest
lender by market value and the second largest bank by assets.
The company offers both individual and business products and services. Its individual products
and services consist of savings accounts, electronic banking, credit cards, bank assurance,
investment products, consumer credit products, remittance, collection and safe deposit
facilities. Its business products and services consist of BCA trade, savings accounts, working
capital loans, investment loans and bank guarantees for small and medium- sized enterprises,
as well as for corporate customers.
As of December 30th, 2018, BCA had 1,243 domestics branches and 2 overseas representatives
located in Hong Kong and Singapore.
External Accolades and Recognitions: The Most Efficient Bank, The Most Reliable Bank, dan The
Best Parenting Bank, dan Best Bank in Productivity at Indonesia Banking Award 2018, 13 awards
at the Contact Center Service Excellence Award (CCSEA) 2018 namely Call Center Priority
Banking, Call Center Regular Banking, Call Center Platinum Credit Card, Call Center KPR, Call
Center Personal Loan, Call Center EDC, Call Center Life & Health Insurance, Email Center Banking
Finance Insurance, Twitter Banking Finance Insurance, Facebook Banking Finance Insurance,
Call Center Sharia Banking, Call Center Regular Credit Card, and Call Center Automotive
Financing, Contact Center World (CCW) Asia Pacific Award 2018, Best Bank award in Indonesia
at the 2018 Euromoney Awards for Excellence, The Best Banks in Indonesia and Asia at Finance
Asia Country Awards for Achievement 2018 , etc.
BCA has direct and indirect ownership in subsidiaries: PT BCA Finance, BCA Finance Limited, PT
Bank BCA Syariah, PT BCA Sekuritas, PT Asuransi Umum BCA, PT Central Santosa Finance, PT
Asuransi Jiwa BCA, and PT Central Capital Ventura.
The Company’s head office is domiciled in Jakarta and located at BCA Tower, Grand Indonesia,
Jl. M.H. Thamrin No.1, Jakarta 10310. As at September 30th, 2018, BCA had 26,573 permanent
employees.
February 2019
Disclaimer:
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being those
of the publisher or of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained
within the publication it should not be by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot
be held liable or otherwise responsible in anyway for any advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated
within this publication.

BBCA Bank Central Asia Tbk.

Industry Sector : Finance (8) Listed Shares : 24,408,459,120
Industry Sub Sector : Bank (81) Market Capitalization : 687,708,335,706,000
1 | 687.7T | 9.27% | 9.27%
2 | 115.6T | 5.56% | 11.40%

Established Date : 10-Aug-1955 1. Dwimuria Investama Andalan 13,545,990,000 : 55.50%
Listing Date : 31-May-2000 (IPO Price: 1,400) 2. Public (<5%) 10,862,469,120 : 44.50%
Underwriter IPO :
Danareksa Sekuritas DIVIDEND ANNOUNCEMENT
Bahana Securities Bonus Cash Recording Payment
F/I
Securities Administration Bureau : Year Shares Dividend Cum Date Ex Date Date Date
PT Raya Saham Registra 2001 85.00 14-Nov-01 15-Nov-01 20-Nov-01 4-Dec-01 I
2001 140.00 29-Oct-02 30-Oct-02 1-Nov-02 15-Nov-02 F
BOARD OF COMMISSIONERS 2002 225.00 3-Dec-03 4-Dec-03 8-Dec-03 19-Dec-03 F
1. Djohan Emir Setijoso 2003 225.00 30-Jun-04 1-Jul-04 6-Jul-04 20-Jul-04 F
2. Cyrillus Harinowo *) 2004 50.00 22-Nov-04 23-Nov-04 25-Nov-04 8-Dec-04 F
3. Raden Pardede *) 2004 80.00 19-Jul-05 20-Jul-05 22-Jul-05 5-Aug-05 F
4. Sumantri Slamet *) 2005 50.00 6-Oct-05 7-Oct-05 11-Oct-05 25-Oct-05 I
5. Tonny Kusnadi 2005 90.00 6-Jun-06 7-Jun-06 9-Jun-06 23-Jun-06 F
*) Independent Commissioners 2006 55.00 10-Oct-06 11-Oct-06 13-Oct-06 3-Nov-06 I
2006 115.00 8-Jun-07 11-Jun-07 13-Jun-07 27-Jun-07 I
BOARD OF DIRECTORS 2007 55.00 29-Nov-07 30-Nov-07 4-Dec-07 18-Dec-07 I
1. Jahja Setiaatmadja 2007 63.50 12-Jun-08 13-Jun-08 17-Jun-08 1-Jul-08 F
2. Armand Wahyudi Hartono 2008 35.00 15-Jan-09 16-Jan-09 20-Jan-09 30-Jan-09 I
3. Erwan Yuris Ang 2008 65.00 9-Jun-09 10-Jun-09 12-Jun-09 26-Jun-09 F
4. Eugene Keith Galbraith 2009 40.00 12-Nov-09 13-Nov-09 17-Nov-09 2-Dec-09 I
5. Henry Koenaifi 2009 70.00 31-May-10 1-Jun-10 3-Jun-10 17-Jun-10 F
6. Inawaty Handoyo 2010 42.50 19-Nov-10 22-Nov-10 24-Nov-10 9-Dec-10 I
7. Lianawaty Suwono 2010 70.00 6-Jun-11 7-Jun-11 9-Jun-11 23-Jun-11 F
8. Rudy Susanto 2011 43.50 6-Dec-11 7-Dec-11 9-Dec-11 23-Dec-11 I
9. Santoso 2011 113.50 8-Jun-12 11-Jun-12 13-Jun-12 27-Jun-12 F
10. Subur Tan 2012 43.50 3-Dec-12 4-Dec-12 6-Dec-12 20-Dec-12 I
11. Suwignyo Budiman 2012 71.00 28-May-13 29-May-13 31-May-13 17-Jun-13 F
2013 45.00 28-Nov-13 29-Nov-13 3-Dec-13 17-Dec-13 I
AUDIT COMMITTEE 2013 120.00 29-Apr-14 30-Apr-14 5-May-14 20-May-14 F
1. Cyrillus Harinowo 2014 50.00 4-Dec-14 5-Dec-14 9-Dec-14 23-Dec-14 I
2. Ilham Ikhsan 2014 148.00 16-Apr-15 17-Apr-15 21-Apr-15 13-May-15 F
3. Tjen Lestari 2015 55.00 12-Nov-15 13-Nov-15 17-Nov-15 9-Dec-15 I
2016 70.00 30-Nov-16 1-Dec-16 5-Dec-16 22-Dec-16 I
CORPORATE SECRETARY 2017 80.00 28-Nov-17 29-Nov-17 4-Dec-17 20-Dec-17 I
Jan Hendra 2017 175.00 12-Apr-18 13-Apr-18 17-Apr-18 30-Apr-18 F
2018 85.00 30-Nov-18 3-Dec-18 4-Dec-18 21-Dec-18 I
HEAD OFFICE
BCA Tower 20th Floor, Grand Indonesia ISSUED HISTORY
Jl. M.H. Thamrin No. 1 Listing Trading
Jakarta 10310 No. Type of Listing Shares Date Date
Phone : (021) 2358-8000 1. First Issue 662,400,000 31-May-00 31-May-00
Fax : (021) 235-88300 2. Company Listing 2,252,146,140 T: 31-May-00 : 11-Jan-01
Homepage : www.bca.co.id 3. Stock Split 21,199,350,480 T: 15-May-01 : 28-Jan-08
Email : halobca@bca.co.id 4. Option Conversion 210,852,000 T: 29-Nov-01 : 9-Nov-06
humas@bca.co.id 5. Option Conversion MSOP 89,226,500 T: 4-Aug-03 : 29-Sep-04
investor_relations@bca.co.id 6. Partial Delisting -5,516,000 4-Jan-08 4-Jan-08


TRADING ACTIVITIES
Bank Central Asia Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
30,000 16,000 Jan-15 13,425 12,800 13,375 53,863 273,651 3,592,271 21
Feb-15 14,550 13,250 14,100 62,002 260,770 3,622,454 19
26,250 14,000 Mar-15 14,825 14,025 14,825 90,945 331,831 4,777,845 22
Apr-15 15,600 12,900 13,475 86,286 451,166 6,531,175 21
May-15 14,500 13,400 14,125 67,586 339,175 4,710,311 19
22,500 12,000
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
18,750 10,000
Aug-15 13,900 11,000 12,900 86,829 484,481 6,064,524 20
Sep-15 12,850 11,300 12,275 62,916 340,220 4,094,909 21
15,000 8,000
Oct-15 13,775 11,875 12,900 76,510 379,238 4,966,315 21
Nov-15 13,750 12,375 12,375 70,680 466,909 6,129,554 21
11,250 6,000 Dec-15 13,800 12,700 13,300 85,393 681,684 9,049,648 19
7,500 4,000 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
3,750 2,000 Mar-16 13,925 13,050 13,300 87,449 561,182 7,541,426 21
Apr-16 13,450 12,775 13,050 75,089 374,867 4,906,411 21
May-16 13,300 12,875 13,000 69,705 402,089 5,250,016 20
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
Aug-16 15,500 14,375 15,050 77,154 634,101 9,559,456 22
Sep-16 16,000 14,800 15,700 91,853 535,155 8,173,240 21
Finance Index Nov-16 15,650 13,950 14,300 83,694 12,183,909 185,159,678 22
120%
113.0%
Jan-17 15,875 14,950 15,300 60,466 265,560 4,090,291 21
100% Feb-17 15,700 15,000 15,450 49,112 291,641 4,526,374 19
Mar-17 17,000 15,350 16,550 69,915 505,739 8,118,270 22
80% Apr-17 18,000 16,575 17,750 70,124 2,459,800 42,831,784 17
70.0% May-17 18,550 16,800 17,150 134,338 1,008,009 17,752,214 20
60% Jun-17 18,325 17,325 18,150 84,529 461,064 8,209,641 15
Jul-17 19,000 18,075 18,700 105,834 401,795 7,420,533 21
Aug-17 19,200 18,500 18,950 95,958 301,120 5,677,576 22
40%
Sep-17 20,375 18,675 20,300 84,559 396,706 7,679,084 19
24.6% Oct-17 21,375 20,050 20,900 108,732 388,988 7,981,308 22
20%
Nov-17 21,625 20,350 20,350 120,899 433,958 9,101,570 22
Dec-17 22,750 20,650 21,900 88,224 323,853 6,872,305 18
-
Jan-18 23,450 21,325 22,725 100,058 429,302 9,641,870 22

-20% Feb-18 24,700 22,850 23,175 106,682 357,012 8,445,760 19
Mar-18 23,800 22,525 23,300 107,419 420,658 9,764,952 21
-40% Apr-18 23,650 21,050 22,100 105,958 347,898 7,862,787 21
Jun-18 23,150 20,825 21,475 97,746 296,903 6,493,567 13
Jul-18 23,625 20,600 23,275 114,510 351,425 7,878,376 22
Frequency (Thou. X) 881 981 1,073 1,422 149 Nov-18 26,200 23,350 26,050 146,618 512,284 12,622,290 21
Days 244 246 238 240 22 Dec-18 26,975 24,900 26,000 123,413 429,003 11,088,346 18
Price (Rupiah) Jan-19 28,200 25,575 28,175 148,684 442,357 11,853,360 22

High 15,600 16,200 22,750 26,975 28,200
Low 11,000 12,625 14,950 20,600 25,575
Close 13,300 15,500 21,900 26,000 28,175
Close* 13,300 15,500 21,900 26,000 28,175
PER (X) 18.02 18.95 23.16 25.72 27.87

PER Industry (X) 25.09 20.71 19.10 25.63 24.30
PBV (X) 3.66 3.49 4.11 4.46 4.79


Cash on Hand 19,577,571 17,849,460 15,943,854 16,754,289 14,712,333 800,000
Placements with Other Banks 11,502,178 56,259,099 35,363,890 18,969,682 37,544,628

640,000
Marketable Securities 26,289,663 51,153,115 2,547,098 140,349,930 10,075,439
Loans 339,859,068 378,616,292 403,391,221 454,264,956 501,960,505
480,000
Investment 166,888 173,120 108,709,161 3,346,595 118,145,653
Fixed Assets 8,844,930 9,712,021 16,990,835 16,868,949 16,715,097
320,000
Other Assets 7,133,595 8,619,292 258,733 11,982,478 9,216,407
Total Assets 552,423,892 594,372,770 676,738,753 750,319,671 798,966,227 160,000
Growth (%) 7.59% 13.86% 10.87% 6.48%
-
Deposits 451,660,016 478,173,935 535,399,322 586,873,856 619,591,844 2014 2015 2016 2017 Sep-18
Taxes Payable 251,818 - 163,682 147,398 1,120,808
Fund Borrowings 3,080,942 1,743,337 2,788,552 3,040,602 1,526,072
Other Liabilities 6,260,219 - 9,258,788 11,332,381 251,091 TOTAL EQUITY (Bill. Rp)
143,705
Growth (%) 6.22% 11.68% 9.70% 5.83% 143,705
131,402
112,715
Paid up Capital 1,540,938 1,540,938 1,540,938 1,540,938 1,540,938 89,625

77,921
Par Value 63 63 63 63 63
Retained Earnings 70,332,010 81,995,065 985,031,800 1,159,983,220 129,995,488
55,758
Total Equity 77,920,617 89,624,940 112,715,059 131,401,694 143,705,181

Growth (%) 15.02% 25.76% 16.58% 9.36%
26,442

-2,874
2014 2015 2016 2017 Sep-18

Total Interest Income 43,771,256 47,081,728 50,425,826 53,767,939 50,248,321
Growth (%) 7.56% 7.10% 6.63%
TOTAL INTEREST INCOME (Bill. Rp)
Interest Expenses 11,744,562 11,212,932 10,346,736 11,941,465 8,320,393
53,768
Other Operating Revenue 1,738,943 12,007,376 1,953,656 2,965,830 2,129,884 50,426 50,248
47,082
53,768
Other Operating Expenses 18,306,319 25,219,058 23,378,946 25,190,321 20,874,699 43,771

Income from Operations 20,504,773 22,657,114 25,839,200 29,158,743 23,311,875 42,799
Growth (%) 10.50% 14.04% 12.85%

31,831
Non-Operating Revenues 236,348 - - - -

Income Before Tax 20,741,121 22,657,114 25,839,200 29,158,743 23,311,875 20,862
Provision for Income Tax 4,229,451 4,621,346 5,206,919 5,837,593 4,801,937

Profit for the period 16,511,670 18,035,768 20,632,281 23,321,150 18,509,938
9,893
Growth (%) 9.23% 14.40% 13.03%

-1,075
2014 2015 2016 2017 Sep-18

Period Attributable 16,485,858 18,018,653 20,605,736 23,309,994 18,508,015
Comprehensive Income 16,925,171 17,691,505 27,404,745 24,075,741 16,618,113
RATIOS Dec-14 Dec-15 Dec-16 Dec-17 Sep-18 23,321
Dividend (Rp) 198.00 55.00 70.00 255.00 85.00 20,632

18,036 18,510
EPS (Rp) 668.66 730.83 835.76 945.45 750.68
16,512
3,160.44 3,635.16 4,571.69 5,329.61 5,828.64
18,564
BV (Rp)
DAR (X) 0.86 0.84 0.83 0.82 0.81 13,806
DER(X) 6.06 5.60 4.97 4.68 4.53

ROA (%) 2.99 3.03 3.05 3.11 2.32 9,049
ROE (%) 21.19 20.12 18.30 17.75 12.88

OPM (%) 46.85 48.12 51.24 54.23 46.39
4,291
NPM (%) 37.72 38.31 40.92 43.37 36.84 -466
Payout Ratio (%) 29.61 7.53 8.38 26.97 11.32 2014 2015 2016 2017 Sep-18
Yield (%) 1.51 0.41 0.45 1.16 0.35
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

BANK NEGARA INDONESIA

(PERSERO) TBK.
Company Profile
PT Bank Negara Indonesia (Persero) Tbk. was originally established on July 5th, 1946, PT Bank Negara
Indonesia (Persero) Tbk. or BNI was the first state-owned bank that was established after the independence
of Republic of Indonesia. Subsequently, the company became “Bank Negara Indonesia 1946” and changed
its status to a state-owned commercial bank. BNI as a State Owned Enterprise was the first to became a
public company after listing its shares on the Jakarta Stock Exchange and the Surabaya Stock Exchange in
1996. To strengthen its financial structure and competitiveness in the national banking industry, BNI
conducted a number of corporate actions, including being recapitalized by the Government in 1999,
Government share divestment in 2007, and a limited public offering in 2010.
The company’s scope of activity is to engage in general banking services. The company offers deposit and
loan facilities for the corporate, medium, and small segments. Many of the best products and services have
been adapted to the needs of customers from childhood, through adolescence and adulthood, until
retirement.
Currently, the Government of the Republic of Indonesia owns 60% of BNI shares, while the public, both
individuals and institutions, own the remaining 40% domestic and foreign. BNI is now the 4th largest national
Bank in Indonesia, based on total assets, total loans and total third-party funds. To provide financial services
in an integrated manner. BNI is supported by a number of subsidiaries, namely Bank BNI Syariah, BNI
Multifinance, BNI Sekuritas, BNI Life Insurance, and BNI Remittance.
As of December 31st, 2018, BNI has 201 domestic branches, 1,106 sub-branches and 865 other outlets. In
addition, BNI’s network also includes 5 overseas branches located in Singapore, Hong Kong, Tokyo, London
and Seoul and 1 agency in New York. All of the subsidiaries of BNI are domiciled in Jakarta, except for BNI
Remittance Ltd. which is domiciled in Hong Kong.
The Company’s head office is domiciled in Jakarta and located at Jl. Jenderal Sudirman Kav.1, Jakarta. As of
December 31st, 2018, BNI had 25,839 permanent employees and 1,385 non-permanent employees, total
27,224 employees.
February 2019
Disclaimer:

BBNI Bank Negara Indonesia (Persero) Tbk.

8 | 167.5T | 2.26% | 43.49%
6 | 51.0T | 2.46% | 27.06%

Established Date : 05-Jul-1946 1. Republic of Indonesia 11,189,193,875 : 60.61%
Listing Date : 25-Nov-1996 (IPO Price: 850) 2. Public (<5%) 7,272,976,018 : 39.39%
Underwriter IPO :
PT Bahana Securities DIVIDEND ANNOUNCEMENT
PT BNI Securities Bonus Cash Recording Payment
F/I
PT Danareksa Sekuritas Year Shares Dividend Cum Date Ex Date Date Date
PT Pentasena Arthasentosa 1996 13.00 6-May-97 7-May-97 16-May-97 14-Jun-97 F
Securities Administration Bureau : 1997 14.00 30-Jun-98 1-Jul-98 10-Jul-98 8-Aug-98 F
PT Datindo Entrycom 2001 4.41 9-Oct-02 10-Oct-02 14-Oct-02 28-Oct-02 F
2002 6.30 23-Oct-03 24-Oct-03 28-Oct-03 5-Nov-03 F
BOARD OF COMMISSIONERS 2003 23.71 1-Jul-04 2-Jul-04 7-Jul-04 21-Jul-04 F
1. Ari Kuncoro *) 2004 118.07 23-Jun-05 24-Jun-05 28-Jun-05 7-Jul-05 F
2. Ahmad Fikri Assegaf *) 2005 53.26 15-Jun-06 16-Jun-06 20-Jun-06 4-Jul-06 F
3. Bistok Simbolon 2006 72.50 19-Jun-07 20-Jun-07 22-Jun-07 2-Jul-07 F
4. Joni Swastanto 2007 29.40 17-Jun-08 18-Jun-08 20-Jun-08 4-Jul-08 F
5. Marwanto Harjowiryono 2008 8.00 18-Jun-09 19-Jun-09 23-Jun-09 7-Jul-09 F
6. Pataniari Siahaan *) 2009 9.44 25-Nov-09 26-Nov-09 1-Dec-09 11-Dec-09 I
7. Revrisond Baswir *) 2009 47.48 8-Jun-10 9-Jun-10 11-Jun-10 25-Jun-10 F
8. Sigit Widyawan *) 2010 65.98 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
9. Wahyu Kuncoro 2011 62.48 10-May-12 11-May-12 15-May-12 30-May-12 F
*) Independent Commissioners 2012 113.35 26-Apr-13 29-Apr-13 1-May-13 16-May-13 F
2013 145.71 28-Apr-14 29-Apr-14 2-May-14 19-May-14 F
BOARD OF DIRECTORS 2014 144.55 24-Mar-15 25-Mar-15 27-Mar-15 17-Apr-15 I
1. Achmad Baiquni 2015 122.53 17-Mar-16 18-Mar-16 22-Mar-16 13-Apr-16 F
2. Adi Sulistyowati 2016 212.81 23-Mar-17 24-Mar-17 29-Mar-17 19-Apr-17 F
3. Anggoro Eko Cahyo 2017 255.56 27-Mar-18 28-Mar-18 2-Apr-18 20-Apr-18 F
4. Bob Tyasika Ananta
5. Catur Budi Harto ISSUED HISTORY
6. Dadang Setiabudi Listing Trading
7. Endang Hidayatullah No. Type of Listing Shares Date Date
8. Herry Sidharta 1. Negara RI (Series A) 1 25-Nov-96 0-Jan-00
9. Putrama Wahju Setiawan 2. First Issue 1,085,032,000 25-Nov-96 25-Nov-96
10. Rico Rizal Budidarmo 3. Company Listing 3,255,095,999 25-Nov-96 28-Jun-97
11. Tambok P.S. Simanjuntak 4. Partial Delisting -43,401,280 2-Jul-99 2-Jul-99
5. Right Issue 151,904,480,000 5-Jul-99 5-Jul-99
AUDIT COMMITTEE 6. Additional Listing 41,375,391,255 20-Apr-01 20-Apr-01
1. Pataniari Siahaan 7. Partial Delisting -343,540,085 12-Dec-01 12-Dec-01
2. Ahmad Fikri Assegaf 8. Reverse Stock Split -184,084,187,364 23-Dec-03 23-Dec-03
3. Donnaria Silalahi 9. Right Issue 1,974,563,625 13-Aug-07 13-Aug-07
4. Lungguk Gultom 10. Partial Delisting -2,233,046 31-Aug-07 31-Aug-07
11. HMETD 3,340,968,788 29-Dec-10 29-Dec-10
CORPORATE SECRETARY
Kiryanto
HEAD OFFICE
BNI Building 24th Floor
Jl. Jend. Sudirman Kav. 1 Jakarta 10220
Jakarta 10220
Phone : (021) 251-1946; 572-8387
Fax : (021) 572-8053
Homepage : www.bni.co.id
Email : BNI@46.co.id
investor.relations@bni.co.id


TRADING ACTIVITIES
Bank Negara Indonesia (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
12,000 160 Jan-15 6,300 5,725 6,250 59,023 605,276 3,684,362 21
Feb-15 7,075 6,175 6,875 58,356 468,870 3,156,997 19
10,500 140 Mar-15 7,225 6,550 7,225 80,139 703,023 4,829,845 22
Apr-15 7,275 6,250 6,425 64,819 618,174 4,250,511 21
May-15 7,125 6,325 6,875 58,043 425,307 2,869,575 19
9,000 120
Jun-15 6,825 5,100 5,300 114,675 851,390 4,886,319 21
Jul-15 5,675 4,450 4,760 110,477 877,538 4,483,456 19
7,500 100
Aug-15 5,250 4,070 4,950 154,228 889,236 4,151,806 20
Sep-15 4,890 3,800 4,135 140,264 796,672 3,494,776 21
6,000 80
Oct-15 5,375 4,075 4,755 110,116 767,305 3,708,085 21
Nov-15 5,250 4,650 4,770 79,530 473,123 2,359,153 21
4,500 60 Dec-15 5,150 4,780 4,990 75,750 522,777 2,595,771 19
3,000 40 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
1,500 20 Mar-16 5,450 4,965 5,200 72,880 634,035 3,326,553 21
Apr-16 5,300 4,570 4,585 101,018 978,561 4,822,933 21
May-16 4,800 4,270 4,800 100,177 763,572 3,468,064 20
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
Aug-16 5,975 5,400 5,875 82,341 715,930 4,088,051 22
Sep-16 5,875 5,300 5,550 71,626 656,284 3,652,224 21
Finance Index Nov-16 5,725 4,810 5,175 81,983 665,387 3,519,725 22
75%
70.0%
Jan-17 5,800 5,400 5,700 51,030 407,642 2,279,205 21
60% Feb-17 6,375 5,675 6,250 64,800 655,534 4,027,677 19
Mar-17 6,950 6,150 6,475 79,994 870,115 5,664,000 22
48.8%
45% Apr-17 6,700 6,075 6,375 55,959 704,986 4,480,590 17
May-17 7,200 6,375 6,550 70,270 541,883 3,574,422 20
30% Jun-17 6,775 6,350 6,600 47,081 350,064 2,280,943 15
24.6% Jul-17 7,450 6,550 7,450 75,575 422,729 2,924,154 21
Aug-17 7,450 7,125 7,350 73,479 371,831 2,727,122 22
15%
Sep-17 7,575 7,075 7,400 45,075 333,680 2,433,326 19
Oct-17 7,750 7,275 7,600 53,383 388,194 2,931,936 22
-
Nov-17 8,400 7,650 8,100 64,285 398,066 3,184,138 22
Dec-17 10,000 8,200 9,900 67,076 554,251 5,203,963 18
-15%
Jan-18 10,000 9,125 9,400 90,844 674,119 6,367,224 22

-30% Feb-18 10,175 8,925 9,725 85,827 388,181 3,720,247 19
Mar-18 9,875 8,425 8,675 80,265 479,269 4,416,949 21
-45% Apr-18 9,000 7,900 8,050 77,389 431,716 3,659,763 21
Jun-18 8,550 6,800 7,050 81,632 397,514 3,036,571 13
Jul-18 7,600 6,750 7,400 100,965 576,525 4,187,808 22
Frequency (Thou. X) 1,105 951 748 1,073 85 Nov-18 9,050 7,325 8,500 109,401 760,540 6,161,588 21
Days 244 246 238 240 22 Dec-18 8,850 8,425 8,800 62,779 433,980 3,755,417 18
Price (Rupiah) Jan-19 9,400 8,650 9,075 85,167 610,896 5,506,656 22

High 7,275 5,975 10,000 10,175 9,400
Low 3,800 4,270 5,400 6,675 8,650
Close 4,990 5,525 9,900 8,800 9,075
Close* 4,990 5,525 9,900 8,800 9,075
PER (X) 10.16 10.01 13.56 10.65 11.16

PER Industry (X) 25.09 20.71 19.10 25.63 24.30
PBV (X) 1.19 1.19 1.83 1.58 1.52


Cash on Hand 11,435,686 12,890,427 11,167,643 11,577,664 10,552,014 775,000

620,000
Loans 270,651,986 314,066,531 376,594,527 441,313,566 472,238,233
465,000
Investment 37,434 35,793 57,169 713,423 712,607
Fixed Assets 6,222,050 20,756,594 21,972,223 22,804,689 22,752,663
310,000
Other Assets 3,369,915 4,482,111 6,793,167 10,380,886 11,026,717
Total Assets 416,573,708 508,595,288 603,031,880 709,330,084 763,523,705 155,000
Growth (%) 22.09% 18.57% 17.63% 7.64%
-
Deposits 302,666,680 358,184,938 425,188,266 504,430,731 522,972,687 2014 2015 2016 2017 Sep-18
Taxes Payable 317,563 749,396 150,770 80,425 648,490
Fund Borrowings 11,212,265 22,523,581 32,695,422 44,722,165 54,645,353
Other Liabilities 5,218,778 7,583,784 11,148,956 14,730,714 13,559,972 TOTAL EQUITY (Bill. Rp)
100,903 104,020
Growth (%) 20.98% 19.38% 18.55% 8.45% 104,020
89,254

78,438
Paid up Capital 9,054,807 9,054,807 9,054,807 9,054,807 9,054,807 61,021

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

40,360
Total Equity 61,021,308 78,438,222 89,254,000 100,903,304 104,019,888

Growth (%) 28.54% 13.79% 13.05% 3.09%
19,140

-2,080
2014 2015 2016 2017 Sep-18

Growth (%) 10.58% 18.63% 10.07%
48,178
Other Operating Revenue 10,715,356 8,872,380 9,962,683 11,507,024 13,448,561 48,178
43,768
13,346,291 11,412,081 14,229,332 17,222,663 14,402,627 36,895
Income from Operations
33,365
38,350
Growth (%) -14.49% 24.69% 21.04%

28,521
Non-Operating Revenues 178,019 54,067 73,573 -57,276 -84,231


8,865
Growth (%) -15.60% 24.83% 20.69%

-964
2014 2015 2016 2017 Sep-18

Dividend (Rp) 144.55 122.53 212.81 255.56 -

13,771
11,410 11,445
578.20 486.18 608.02 730.16 613.34 10,829
EPS (Rp)
3,272.16 4,206.11 4,786.08 5,410.75 5,577.88 9,141
10,961
BV (Rp)
DAR (X) 0.82 0.81 0.82 0.82 0.83 8,152
DER(X) 5.59 5.26 5.52 5.79 6.09

ROA (%) 2.60 1.80 1.89 1.94 1.50 5,343
ROE (%) 17.75 11.65 12.78 13.65 11.00

OPM (%) 40.00 30.93 32.51 35.75 36.53
2,534
NPM (%) 32.46 24.77 26.07 28.58 29.03 -275
Payout Ratio (%) 25.00 25.20 35.00 35.00 - 2014 2015 2016 2017 Sep-18
Yield (%) 2.37 2.46 3.85 2.58 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

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, by Raden Bei Aria Wirjaatmadja as De Poerwokertosche Hulp en
Spaarbank der Inlandsche Hoofden or "Help and Savings Bank of the Aristocrats of Purwokerto", a
financial institution that served people of Indonesian nationality (native Indonesians). Following the
independence of the Republic of Indonesia, Government Regulation No. 1/1946 Article 1 acknowledged
in writing that BRI was the first state-owned bank in the Republic of Indonesia. In 2003, the Indonesian
government decided to sell 30% of the Bank’s shares, a decision that transformed the Bank into a public
company as PT Bank Rakyat Indonesia (Persero) Tbk., as it remains today.
Since its establishment, the company consistently focuses on micro, small and medium enterprises, and
became the pioneer of microfinance in Indonesia. The company offers a whole range of banking products
and services, which include saving products, loan products (particularly micro credit, small commercial
loans and consumer credit), e-banking, international business services and islamic (sharia) banking.
In 2018 the company received awards: The Best Automated Advisory Initiative, Application or
Programme, The Best Productivity, Efficiency and Automation Initiative, Application or Programme, The
Best Frictionless Customer Relationship Management, The Best E-Commerce Proposition, The Best
Innovation Centre by Financial Institution, Best Acquirer Bank Category Tier 2 Islamic Bank; Best Issuer
Bank Category Tier 2 Islamic Bank; The Highest E-Channel Transactions Bank Category Tier 2 Islamic Bank;
& 2nd Best Transaction Growth as Acquirer Bank, Best of the Best from Forbes Indonesia 2018.
BRI Subsidiaries: PT Bank BRI Syariah, PT Bank Rakyat Indonesia Agroniaga Tbk., BRI Remittance Co. Ltd.
Hong Kong, PT Asuransi BRI Life, and PT BRI Multifinance Indonesia, PT Bahana Artha Ventura.
The Company’s head office is domiciled in Jakarta and located at BRI 1 Building, Jl. Jenderal Sudirman,
Kav. 44-46, Jakarta 10210. As December 31st, 2018, the Group had 60.553 permanent employees.
February 2019
Disclaimer:

BBRI Bank Rakyat Indonesia (Persero) Tbk.

2 | 470.1T | 6.34% | 15.61%
1 | 121.2T | 5.83% | 5.83%

Established Date : 16-Dec-1895 1. Republic of Indonesia 70,000,000,000 : 57.32%
Listing Date : 10-Nov-2003 (IPO Price: 875) 2. Public (<5%) 52,112,351,900 : 42.68%
Underwriter IPO :
PT Bahana Securities (affiliated) DIVIDEND ANNOUNCEMENT
F/I
2003 84.19 6-Jul-04 7-Jul-04 9-Jul-04 23-Jul-04 F
1. Andrianof A. Chaniago *) 2005 156.18 21-Jun-06 22-Jun-06 26-Jun-06 10-Jul-06 F
2. A. Fuad Rahmany *) 2006 173.04 13-Jun-07 14-Jun-07 18-Jun-07 2-Jul-07 F
3. A. Sonny Keraf *) 2007 196.34 18-Jun-08 19-Jun-08 23-Jun-08 7-Jul-08 F
4. Gatot Trihargo 2008 168.82 16-Jun-09 17-Jun-09 19-Jun-09 3-Jul-09 F
5. Hadiyanto 2009 132.08 28-Jun-10 29-Jun-10 1-Jul-10 15-Jul-10 F
6. Jeffry J. Wurangian 2010 45.93 17-Dec-10 20-Dec-10 22-Dec-10 30-Dec-10 I
7. Mahmud *) 2010 70.04 27-May-11 30-May-11 1-Jun-11 15-Jun-11 F
8. Nicolaus Teguh Budi Harjanto 2011 122.28 26-Apr-12 27-Apr-12 1-May-12 15-May-12 F
9. Rofikoh Rokhim *) 2012 225.23 26-Mar-13 27-Mar-13 1-Apr-13 15-Apr-13 F
*) Independent Commissioners 2013 257.33 28-Apr-14 29-Apr-14 2-May-14 14-May-14 F
2014 294.80 26-Mar-15 27-Mar-15 31-Mar-15 22-Apr-15 I
BOARD OF DIRECTORS 2015 311.66 31-Mar-16 1-Apr-16 5-Apr-16 22-Apr-16 F
1. Suprajarto 2016 428.61 22-Mar-17 23-Mar-17 27-Mar-17 13-Apr-17 F
2. Achmad Solichin Lutfiyanto 2017 106.75 29-Mar-18 2-Apr-18 4-Apr-18 25-Apr-18 F
3. Handayani
4. Haru Koesmahargyo ISSUED HISTORY
5. Indra Utoyo Listing Trading
6. Kuswiyoto No. Type of Listing Shares Date Date
7. Mohammad Irfan 1. First Issue 4,764,705,000 10-Nov-03 10-Nov-03
8. Osbal Saragi Rumahorbo 2. Company Listing 6,882,352,950 T: 10-Nov-03 : 31-May-04
9. Priyastomo 3. MSOP Conversion 114,572,000 T: 24-Nov-04 : 11-Nov-05
10. R. Sophia Alizsa 4. MSOP Conversion I & II 333,519,000 T: 16-Nov-05 : 18-Oct-07
11. Sis Apik Wijayanto 5. MSOP Conversion II 8,879,000 T: 25-Sep-06 : 12-Nov-09
12. Supari 6. MSOP Conversion I, II & III 59,421,500 T: 23-Nov-06 : 27-Dec-07
7. MSOP Conversion II & III 36,021,500 T: 24-Nov-06 : 26-Jun-09
AUDIT COMMITTEE 8. MSOP Conversion I 256,500 T: 9-Jan-07 : 26-May-08
1. A. Fuad Rahmany 9. MSOP Conversion III 11,609,000 T: 25-Jun-07 : 15-Nov-10
2. A. Sonny Keraf 10. MSOP Conversion I & III 2,493,500 T: 21-Nov-07 : 8-Aug-08
3. I Gde Yadnya Kusuma 11. MSOP Conversion I & II 199,500 T: 27-Mar-08 : 27-May-08
4. Pamuji Gesang Raharjo 12. MSOP Conversion III 2,227,000 T: 5-Aug-08 : 22-Dec-08
5. Rofikoh Rohim 13. MSOP Conversion I 532,500 T: 28-Aug-08 : 13-Nov-08
6. Sunuaji Noor Widiyanto 14. MSOP Conversion II 49,500 T: 2-Sep-08 : 14-Oct-08
15. MSOP Conversion I & II 95,500 11-Nov-08 11-Nov-08
CORPORATE SECRETARY 16. Rep. of Indonesia Share Delisting -5,698,760 7-Jan-11 7-Jan-11
Bambang Tribaroto 17. Stock Split 109,901,116,710 T: 11-Jan-11 : 10-Nov-17
HEAD OFFICE
BRI I Building
Jl. Jend. Sudirman No. 44-46
Jakarta 10210
Phone : (021) 251-0244; 251-0254
Fax : (021) 250-0065; 250-0077
Homepage : www.bri.co.id
Email : corsec@bri.co.id
humas@bri.co.id


TRADING ACTIVITIES
Bank Rakyat Indonesia (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,000 640 Jan-15 12,100 11,325 11,675 84,255 607,503 7,101,489 21
Feb-15 13,050 11,600 12,875 82,946 748,654 9,092,542 19
3,500 560 Mar-15 13,275 12,600 13,275 82,495 552,663 7,172,234 22
Apr-15 13,450 11,250 11,625 96,485 727,168 9,138,329 21
May-15 12,750 11,400 11,775 107,891 702,965 8,433,290 19
3,000 480
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
2,500 400
Aug-15 10,875 9,025 10,625 120,620 746,258 7,528,574 20
Sep-15 10,550 7,975 8,650 132,204 851,245 7,855,562 21
2,000 320
Oct-15 11,700 8,550 10,525 135,157 824,964 8,421,137 21
Nov-15 11,600 10,200 10,775 87,443 545,609 5,909,768 21
1,500 240 Dec-15 11,600 10,425 11,425 83,179 511,242 5,704,482 19
1,000 160 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
500 80 Mar-16 11,500 10,650 11,425 116,596 632,000 7,028,852 21
Apr-16 11,300 9,800 10,350 139,975 794,637 8,338,493 21
May-16 10,675 9,525 10,350 95,493 659,498 6,609,965 20
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
Aug-16 12,250 11,475 11,650 95,596 770,202 9,125,597 22
Sep-16 12,250 11,500 12,200 81,038 618,988 7,381,044 21
75%
70.0%
65.2% Jan-17 12,325 11,575 11,725 69,316 378,351 4,502,567 21
60% Feb-17 12,125 11,650 11,950 66,503 451,400 5,399,953 19
Mar-17 13,250 11,850 12,975 95,193 566,300 7,121,221 22
45% Apr-17 13,250 12,425 12,900 56,073 337,783 4,391,392 17
May-17 15,300 13,000 14,475 103,789 584,920 8,225,901 20
30% Jun-17 15,300 14,200 15,250 65,330 297,532 4,383,996 15
24.6% Jul-17 15,500 14,300 14,775 93,829 572,160 8,521,971 21
Aug-17 15,350 14,775 15,125 65,446 389,664 5,865,231 22
15%
Sep-17 15,750 14,675 15,275 70,266 430,851 6,507,204 19
Oct-17 15,750 15,125 15,600 75,835 495,406 7,655,611 22
-
Nov-17 16,825 3,120 3,210 147,696 2,027,678 9,353,670 22
Dec-17 3,720 3,260 3,640 122,225 1,871,880 6,433,985 18
-15%
Jan-18 3,920 3,460 3,700 196,546 3,171,136 11,632,918 22

-30% Feb-18 3,910 3,650 3,780 135,916 2,579,080 9,691,955 19
Mar-18 3,820 3,450 3,600 178,973 2,788,121 10,274,909 21
-45% Apr-18 3,670 3,120 3,220 168,834 2,624,538 9,065,032 21
Jun-18 3,270 2,740 2,840 162,760 2,764,882 8,251,005 13
Jul-18 3,110 2,770 3,070 185,840 2,428,523 7,164,319 22
Volume (Million Sh.) 8,366 7,679 8,404 35,983 3,678 Sep-18 3,220 2,900 3,150 182,921 2,986,141 9,051,519 19
Value (Billion Rp) 92,492 86,255 78,363 119,011 13,785 Oct-18 3,190 2,870 3,150 169,593 2,445,652 7,416,800 23
Frequency (Thou. X) 1,264 1,248 1,032 2,232 192 Nov-18 3,760 3,160 3,620 199,958 3,190,009 10,941,377 21
Days 244 246 238 240 22 Dec-18 3,780 3,520 3,660 161,745 2,542,970 9,280,338 18
Price (Rupiah) Jan-19 3,870 3,580 3,850 192,200 3,678,200 13,784,801 22

High 13,450 12,975 16,825 3,920 3,870
Low 7,975 9,525 3,120 2,720 3,580
Close 11,425 11,675 3,640 3,660 3,850
Close* 2,285 2,335 3,640 3,660 3,850
PER (X) 10.99 11.40 15.48 14.28 14.53

PER Industry (X) 25.09 20.71 19.10 25.63 24.30
PBV (X) 2.49 2.04 2.68 2.57 2.54


BALANCE SHEET Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 TOTAL ASSETS AND LIABILITIES (Bill. Rp)
Cash on Hand 22,469,167 28,771,635 25,212,024 24,797,782 27,421,625 1,300,000

1,040,000
Loans 479,211,143 547,318,355 621,286,679 689,559,288 804,673,435
780,000
Investment 251,573 269,130 2,439 73,821 460,096
Fixed Assets 5,917,470 8,039,280 24,515,059 24,746,306 26,914,859
520,000
Other Assets 8,792,889 13,514,846 14,490,711 25,230,455 23,379,549
Total Assets 801,955,021 878,426,312 1,003,644,426 1,126,248,442 1,296,898,292 260,000
Growth (%) 9.54% 14.25% 12.22% 15.15%
-
Deposits 630,977,238 282,157,299 756,755,912 847,249,817 846,200,528 2014 2015 2016 2017 2018
Taxes Payable 59,805 1,497,262 942,401 564,798 839,900
Fund Borrowings 24,986,862 35,480,358 35,008,781 29,403,009 34,878,883
167,347 166,680
Growth (%) 8.67% 11.96% 11.91% 2.88%
146,813
167,347
Authorized Capital 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000

113,127
133,209
Paid up Capital 6,167,291 6,167,291 6,167,291 6,167,291 6,167,291 97,737

Par Value 250 250 250 50 50

64,931
Total Equity 97,737,429 113,127,179 146,812,590 167,347,494 166,679,645

Growth (%) 15.75% 29.78% 13.99% -0.40%
30,792
2014 2015 2016 2017 2018
INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Dec-18

-3,347

Growth (%) 13.73% 7.86% 11.66% -47.87%
102,899
Other Operating Revenue 9,299,140 12,409,041 17,213,112 19,091,067 10,196,235
92,151
102,899

Income from Operations 28,361,877 30,512,907 33,964,542 36,805,834 18,466,599 81,908 75,122
Growth (%) 7.58% 11.31% 8.37% -49.83%
60,916 53,644
Non-Operating Revenues 2,497,196 1,981,111 9,228 216,323 16,971

18,933
Growth (%) 4.77% 3.22% 10.74% -48.58%

-2,058
2014 2015 2016 2017 2018

RATIOS Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 29,044

294.80 311.66 428.61 106.75 - 26,228
Dividend (Rp) 25,411
29,044
24,254
EPS (Rp) 982.67 1,029.53 1,061.88 235.08 120.69
3,961.93 4,585.77 5,951.26 1,356.73 1,351.32
23,119
BV (Rp)
DAR (X) 0.88 0.87 0.85 0.85 0.76 17,194
14,934
DER(X) 7.21 6.76 5.84 5.73 5.92
ROA (%) 3.02 2.89 2.61 2.58 1.15 11,269
ROE (%) 24.82 22.46 17.86 17.36 8.96

OPM (%) 37.75 35.72 36.86 35.77 34.42
5,344
NPM (%) 32.29 29.74 28.46 28.23 27.84 -581
Payout Ratio (%) 30.00 30.27 40.36 45.41 - 2014 2015 2016 2017 2018
Yield (%) 2.53 2.73 3.67 2.93 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,542

BANK TABUNGAN NEGARA

(PERSERO) TBK.
Company Profile
PT Bank Tabungan Negara (Persero) Tbk. is a state owned enterprise bank, responsible for providing
financial services to the public in order to drive economic growth for Indonesian in general and for small
medium business in Indonesia. The embryo of BTN was started by the establishment of Postspaarbank in
Batavia in 1897 when the Dutch colonial period in Indonesia. BTN was originally established as a state-
owned bank under the name “Bank Tabungan Pos” based on Martial Law No. 9 of 1950 dated February 9,
1950. Subsequently, the name was changed to “Bank Tabungan Negara” based on Government Regulation
Amendment of Law No. 4 of 1963. The Bank started operating as a state-owned commercial bank on April
29, 1989.
BTN has its business activities focused on Financing The Housing sector through Mortgage and Consumer
Banking,
The company provides a variety of products and services in the fields of housing, primarily through loans
(mortgages), both subsidized mortgages for the middle class to lower segments of Indonesia's society and
non-subsidized mortgages for the middle class to upper class segments.
As of December 31st, 2018, the Bank has 100 branch offices (including 24 sharia branch offices), 325 sub-
branch offices (including 42 sharia sub-branch offices), 487 cash offices (including 7 sharia cash offices),
and 2,996 SOPPs (System on-line Payment Point/on-line Post office) (unaudited).
The Company’s head office is domiciled in Jakarta and located at Bank BTN Tower, Jl. Gajah Mada No. 1,
Jakarta 10130. The Bank has permanent employees as of September 30th, 2018 of 9,686 employees.
February 2019
Disclaimer:

BBTN Bank Tabungan Negara (Persero) Tbk.

42 | 28.7T | 0.39% | 70.87%
25 | 20.8T | 1.00% | 56.98%

Established Date : 30-Nov-1934 1. Republic of Indonesia 6,354,000,000 : 60.61%
Listing Date : 17-Dec-2009 (IPO Price: 800) 2. Public (<5%) 4,130,100,000 : 39.39%
Underwriter IPO :
PT Mandiri Sekuritas (affiliated) DIVIDEND ANNOUNCEMENT
PT CIMB Securities Indonesia Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2009 15.09 10-Jun-10 11-Jun-10 15-Jun-10 29-Jun-10 F
2010 31.19 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
BOARD OF COMMISSIONERS 2011 25.31 10-May-12 11-May-12 15-May-12 30-May-12 F
1. I Wayan Agus Mertayasa *) 2012 38.74 26-Apr-13 29-Apr-13 1-May-13 10-May-13 F
2. Arie Coerniadi *) 2013 44.36 18-Mar-14 19-Mar-14 21-Mar-14 7-Apr-14 F
3. Garuda Wiko *) 2014 21.11 31-Mar-15 1-Apr-15 6-Apr-15 24-Apr-15 I
4. Iman Sugema 2015 34.96 19-Apr-16 20-Apr-16 22-Apr-16 12-May-16 F
5. Kamaruddin Sjam *) 2016 49.46 24-Mar-17 27-Mar-17 30-Mar-17 13-Mar-17 F
6. Lucky Fathul Aziz Hadibrata *) 2017 57.18 2-Apr-18 3-Apr-18 5-Apr-18 24-Apr-18 F
7. Maurin Sitorus
8. Parman Nataatmadja ISSUED HISTORY
9. Sumiyati Listing Trading
*) Independent Commissioners No. Type of Listing Shares Date Date
1. First Issue 2,360,057,000 17-Dec-09 17-Dec-09
BOARD OF DIRECTORS 2. Company Listing 6,263,228,575 17-Dec-09 17-Dec-09
1. Maryono 3. MESOP Conversion I 122,369,000 T: 8-Feb-11 : 13-Aug-14
2. Andi Nirwoto 4. MESOP Conversion I & II 5,670,000 T: 6-Feb-12 : 14-Aug-14
3. Budi Satria 5. MESOP Conversion I 1,999,000 T: 14-Feb-12 : 16-Mar-12
4. Dasuki Amsir 6. Right Issue 1,497,728,925 7-Dec-12 7-Dec-12
5. Iman Nugroho Soeko 7. MESOP Conversion I, II & III 208,387,000 T: 7-Feb-13 : 17-Jul-13
6. Nixon L.P. Napitupulu 8. MESOP Conversion II & III 444,300 T: 14-Mar-14 : 14-Aug-15
7. Oni Febriarto R. 9. MESOP Conversion III 7,759,500 T: 19-Mar-14 : 17-Mar-16
8. R. Mahelan Prabantarikso 10. MESOP Conversion II 14,375,700 T: 22-Jul-14 : 19-Aug-15
9. Yossi Istanto 11. MESOP Conversion I & III 2,081,000 20-Aug-14 20-Aug-14
AUDIT COMMITTEE
1. Kamaruddin Sjam
2. Adi Prakoso
3. Garuda Wiko
4. I Wayan Agus Mertayasa
5. Lucky Fathul Aziz Hadibrata
6. Rachmat Supratman
7. Sondang Gayatri
CORPORATE SECRETARY
Achmad Chaerul
HEAD OFFICE
Bank BTN Tower 20th Floor
Jl. Gajah Mada No. 1
Jakarta 10130
Phone : (021) 633-6789; 633-2666
Fax : (021) 634-6704
Homepage : www.btn.co.id
Email : csd@btn.co.id
agus.susanto@btn.co.id


TRADING ACTIVITIES
Bank Tabungan Negara (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,000 400 Jan-15 1,230 980 995 44,134 1,247,054 1,302,876 21
Feb-15 1,095 990 1,070 47,590 1,549,165 1,615,293 19
3,500 350 Mar-15 1,270 1,060 1,255 40,326 1,207,915 1,392,206 22
Apr-15 1,250 1,080 1,115 28,932 701,031 823,389 21
May-15 1,245 1,080 1,205 25,132 547,298 639,653 19
3,000 300
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
2,500 250
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
2,000 200
Oct-15 1,230 995 1,185 48,255 593,101 667,140 21
Nov-15 1,290 1,085 1,270 28,942 365,566 441,398 21
1,500 150 Dec-15 1,315 1,250 1,295 20,431 189,362 245,098 19
1,000 100 Jan-16 1,420 1,280 1,365 30,750 476,062 645,114 20

Feb-16 1,690 1,350 1,660 58,858 1,005,608 1,526,817 20
500 50 Mar-16 1,865 1,600 1,745 43,540 462,332 796,834 21
Apr-16 1,780 1,625 1,760 42,592 485,258 833,245 21
May-16 1,885 1,590 1,705 37,300 386,739 673,510 20
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
Aug-16 2,100 1,835 2,010 65,565 695,281 1,354,777 22
Sep-16 2,030 1,890 1,920 40,068 394,806 778,370 21
Finance Index Nov-16 1,940 1,590 1,650 50,838 420,252 724,716 22
245%
Jan-17 1,930 1,695 1,905 42,012 348,275 647,126 21
210% Feb-17 2,280 1,875 2,140 48,805 526,975 1,085,503 19
Mar-17 2,360 2,000 2,270 64,967 651,018 1,422,368 22
175% Apr-17 2,390 2,140 2,300 26,433 261,541 604,232 17
May-17 2,650 2,270 2,500 36,144 341,910 827,966 20
140% Jun-17 2,710 2,400 2,600 22,693 203,060 526,229 15
123.7%
Jul-17 2,650 2,320 2,600 52,642 415,879 1,033,000 21
Aug-17 3,030 2,570 3,010 46,902 357,233 997,937 22
105%
Sep-17 3,340 2,950 3,150 59,130 397,493 1,238,430 19
Oct-17 3,170 2,690 2,760 92,955 630,983 1,861,254 22
70% 70.0%
Nov-17 3,240 2,740 3,200 90,705 1,060,474 3,238,647 22
Dec-17 3,610 3,170 3,570 52,099 575,223 1,963,549 18
35%
24.6%
Jan-18 3,700 3,370 3,660 63,078 391,275 1,400,251 22
- Feb-18 3,850 3,560 3,740 47,563 334,788 1,240,585 19
Mar-18 3,890 3,430 3,800 47,930 303,606 1,123,957 21
-35% Apr-18 3,770 3,020 3,110 54,314 348,716 1,209,955 21
Jun-18 3,120 2,370 2,450 65,753 460,902 1,304,539 13
Jul-18 2,560 2,110 2,360 136,215 1,254,283 2,931,468 22
Frequency (Thou. X) 396 532 635 927 85 Nov-18 2,740 2,150 2,670 114,373 964,298 2,346,511 21
Days 244 246 238 240 22 Dec-18 2,820 2,530 2,540 64,752 472,440 1,266,000 18
Price (Rupiah) Jan-19 2,820 2,500 2,740 85,187 614,133 1,656,426 22

High 1,315 2,100 3,610 3,890 2,820
Low 935 1,280 1,695 2,010 2,500
Close 1,295 1,740 3,570 2,540 2,740
Close* 1,295 1,740 3,570 2,540 2,740
PER (X) 7.33 8.52 12.49 8.93 9.63

PER Industry (X) 25.09 20.71 19.10 25.63 24.30
PBV (X) 0.99 1.02 1.75 1.16 1.24


Cash on Hand 920,482 1,181,219 1,006,682 1,027,554 803,027 275,000

220,000
Loans 114,345,618 136,905,226 162,330,347 196,634,594 196,897,099
165,000
Investment - - - - -
Fixed Assets 1,488,383 1,553,401 4,659,379 4,837,319 4,914,070
110,000
Other Assets 1,007,989 1,553,599 2,189,078 2,688,331 6,306,709
Total Assets 144,582,353 171,807,592 214,168,479 261,365,267 272,304,662 55,000
Growth (%) 18.83% 24.66% 22.04% 4.19%
-
Deposits 107,649,946 129,429,868 163,640,452 177,091,421 179,826,703 2014 2015 2016 2017 Sep-18
Taxes Payable 115,260 9,566 - - -
Fund Borrowings 6,998,213 7,726,728 4,999,616 7,991,053 11,819,872
23,250
Growth (%) 19.36% 23.48% 14.82% 4.02% 23,250 21,663
19,131
Paid up Capital 5,283,848 5,291,173 5,295,000 5,295,000 5,295,000 13,860

Paid up Capital (Shares) 10,568 10,582 10,590 10,590 10,590 13,764 12,253
Par Value 500 500 500 500 500

9,021
Total Equity 12,252,895 13,860,107 19,130,536 21,663,434 23,249,795

Growth (%) 13.12% 38.03% 13.24% 7.32%
4,278

-465
2014 2015 2016 2017 Sep-18

Growth (%) 16.86% 14.52% 12.44%
19,272
Other Operating Revenue 894,820 1,106,526 1,282,822 1,605,931 1,470,191
17,139
19,272

14,966
Income from Operations 1,577,367 2,533,605 3,352,232 3,891,903 2,805,143
12,807
15,340
Growth (%) 60.62% 32.31% 16.10%

11,409
Non-Operating Revenues 1,960 8,281 -22,148 -30,347 41,698

Provision for Income Tax 433,755 690,979 711,179 834,089 610,669

3,546
Growth (%) 61.57% 41.49% 15.60%

-385
2014 2015 2016 2017 Sep-18

Dividend (Rp) 21.11 34.96 49.46 57.18 - 2,619

3,027
EPS (Rp) 108.40 174.91 247.30 285.88 211.16 2,236

1,159.47 1,309.74 1,806.47 2,045.65 2,195.45
2,410
BV (Rp) 1,851
DAR (X) 0.92 0.92 0.91 0.86 0.86 1,792
DER(X) 10.80 11.40 10.20 10.34 10.02 1,146

ROA (%) 0.79 1.08 1.22 1.16 0.82 1,175
ROE (%) 9.35 13.35 13.69 13.98 9.62

OPM (%) 12.32 16.93 19.56 20.20 17.65
557
NPM (%) 8.94 12.37 15.28 15.71 14.07 -61
Payout Ratio (%) 19.48 19.99 20.00 20.00 - 2014 2015 2016 2017 Sep-18
Yield (%) 1.75 2.70 2.84 1.60 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

BANK MANDIRI (PERSERO) TBK.
Company Profile
Bank Mandiri was formed on 2 October 1998, as part of the government of Indonesia’s bank
restructuring program. Bank Mandiri is the largest bank in Indonesia. Bank Mandiri offers a
comprehensive range of financial solutions to private and state-owned large and medium corporations,
small and micro businesses as well as retail consumers.
Bank Mandiri has six business segments: Consumer Banking, Micro Banking, Commercial Banking,
Corporate Banking, Treasury and Financial Institutions.
Bank Mandiri took the initiative to become one of the institutions who implements the green banking
program as a way to realize the green economy concept for the banking sector, carried out accordingly
to the regulations of Bank Indonesia and the Ministry of Environment and Forestry. By definition, the
green economy concept encourages any kind of economic activity to pay close attention to
environmental sustainability by minimizing the impact of business activities on the surrounding
environment. One of the implementations of the green economy concept is through Bank Mandiri
green banking program that the Company has been undertaking to achieve business sustainability
through provision of environmentally friendly loan portfolio as well as operational activities.
As of December 31st, 2018 structure and the number of domestic and overseas offices of Bank Mandiri
(Total 2,632 offices) are as follows: 12 the domestic territory Office, Branches in the country: 84 Area
Offices, 1,303 Branch Offices, 1,072 Mandiri Mitra Usaha Offices, 173 Cash Outlets. 6 Overseas
branches (Cayman Islands, Singapore, Hong Kong, Timor Leste, Shanghai (China) and 1 remittance
office in Hong Kong).
Bank Mandiri received a number of awards in 2017: The Best FX Provider 2018 – in Indonesia, Silver
Champion of Jabodetabek WOW Service Excellence Award, The Highest Growing Bank in Mortgages
Primary Market, Gratification Award, The Best Innovation Centre by Financial Institution, etc.
The Company’s head office is domiciled in Jakarta and located at Jln. Jenderal Gatot Subroto Kav. 26-
38, Jakarta 12190. Total number of Bank Mandiri employees as of September 30st, 2018, was 39,809.
February 2019
Disclaimer:

BMRI Bank Mandiri (Persero) Tbk.

6 | 344.2T | 4.64% | 36.62%
4 | 90.0T | 4.33% | 20.96%

Established Date : 02-Oct-1998 1. Republic of Indonesia 28,000,000,000 : 60.61%
Listing Date : 14-Jul-2003 (IPO Price: 675) 2. Public (<5%) 18,199,999,998 : 39.39%
Underwriter IPO :
PT. Danareksa Sekuritas (Affiliated) DIVIDEND ANNOUNCEMENT
PT. ABN AMRO Asia Securities Indonesia Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2003 50.00 16-Dec-03 17-Dec-03 19-Dec-03 30-Dec-03 I
2003 115.00 11-Jun-04 14-Jun-04 16-Jun-04 30-Jun-04 F
BOARD OF COMMISSIONERS 2004 60.00 16-Dec-04 17-Dec-04 21-Dec-04 30-Dec-04 I
1. Hartadi Agus Sarwono 2004 70.50 13-Jun-05 14-Jun-05 16-Jun-05 24-Jun-05 F
2. Ardan Adiperdana 2005 14.85 14-Jun-06 15-Jun-06 19-Jun-06 30-Jun-06 F
3. Askolani 2006 70.02 19-Jun-07 20-Jun-07 22-Jun-07 29-Jun-07 F
4. Bangun Sarwito Kusmulyono *) 2007 186.00 19-Jun-08 20-Jun-08 24-Jun-08 3-Jul-08 F
5. Goei Siauw Hong *) 2008 88.55 26-May-09 27-May-09 29-May-09 12-Jun-09 F
6. Imam Apriyanto Putro 2009 19.26 2-Dec-09 3-Dec-09 7-Dec-09 22-Dec-09 I
7. Makmur Keliat *) 2010 19.64 21-Dec-10 22-Dec-10 27-Dec-10 30-Dec-10 I
8. R. Widyo Pramono 2010 120.60 15-Jun-11 16-Jun-11 20-Jun-11 30-Jun-11 F
*) Independent Commissioners 2011 104.97 15-May-12 16-May-12 22-May-12 5-Jun-12 F
2012 199.33 26-Apr-13 29-Apr-13 1-May-13 16-May-13 F
BOARD OF DIRECTORS 2013 234.05 26-Mar-14 27-Mar-14 1-Apr-14 15-Apr-14 F
1. Kartika Wirjoatmodjo 2014 212.91 23-Mar-15 24-Mar-15 26-Mar-15 17-Apr-15 I
2. Agus Dwi Handaya 2015 261.45 29-Mar-16 30-Mar-16 1-Apr-16 22-Apr-16 F
3. Ahmad Siddik Badruddin 2016 266.27 21-Mar-17 22-Mar-17 24-Mar-17 13-Apr-17 F
4. Alexandra Askandar 2017 199.03 28-Mar-18 29-Mar-18 3-Apr-18 20-Apr-18 F
5. Darmawan Junaidi
6. Donsuwan Simatupang ISSUED HISTORY
7. Hery Gunardi Listing Trading
8. Panji Irawan No. Type of Listing Shares Date Date
9. Rico Usthavia Frans 1. First Issue 2,900,000,000 14-Jul-03 14-Jul-03
10. Royke Tumilaar 2. Company Listing 16,900,000,000 T: 14-Jul-03 : 30-Dec-03
11. Sulaiman Arif Arianto 3. MSOP Conversion 598,938,831 T: 26-Jul-04 : 9-Jan-07
4. Partial Delisting 1 % -9,955,000 6-Dec-05 6-Dec-05
AUDIT COMMITTEE 5. MSOP Conversion I & II 32,316,636 T: 11-Dec-06 : 15-Dec-06
1. Bangun Sarwito Kusmulyono 6. MSOP Conversion I 10,547,213 T: 21-Mar-07 : 16-Jul-08
2. Bambang Ratmanto 7. MSOP Conversion I, II & III 105,564,065 T: 10-May-07 : 2-Jun-08
3. Budi Sulistio 8. MSOP Conversion I & III 129,311,724 T: 14-May-07 : 28-May-08
4. Goei Siauw Hong 9. MSOP Conversion II & III 32,126,466 T: 14-Nov-07 : 19-May-10
5. Hartadi Agus Sarwono 10. MSOP Conversion III 86,224,280 T: 19-Nov-07 : 16-Dec-10
6. Makmur Keliat 11. MSOP Conversion II & III 1,376,402 T: 17-Dec-08 : 8-May-09
12. MSOP Conversion II 44,125 2-Jun-10 2-Jun-10
CORPORATE SECRETARY 13. HMETD 2,313,505,257 2-Mar-11 2-Mar-11
Rohan Afas 14. Stock Split 23,099,999,999 13-Sep-17 13-Sep-17
HEAD OFFICE
Mandiri Plaza
Jl. Jend. Gatot Subroto Kav. 36 - 38
Jakarta 12190
Phone : (021) 526-5045
Fax : (021) 5274477; 527557
Homepage : www.bankmandiri.co.id
Email : corporate.secretary@bankmandiri.co.id
mandiricare@bankmandiri.co.id


TRADING ACTIVITIES
Bank Mandiri (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
10,000 240 Jan-15 11,375 10,600 11,000 66,447 515,375 5,623,454 21
Feb-15 12,300 10,950 12,000 65,366 563,345 6,593,778 19
8,750 210 Mar-15 12,475 11,750 12,475 70,026 428,152 5,146,324 22
Apr-15 12,550 10,350 10,750 80,765 638,748 7,347,327 21
May-15 11,725 10,700 10,775 75,800 721,520 8,037,833 19
7,500 180
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
6,250 150
Aug-15 10,075 8,125 9,100 117,687 957,499 8,726,356 20
Sep-15 9,000 7,150 7,925 74,765 574,228 4,839,637 21
5,000 120
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
3,750 90 Dec-15 9,250 8,450 9,250 66,540 386,816 3,436,104 19
2,500 60 Jan-16 9,600 9,000 9,600 63,648 481,137 4,499,144 20

Feb-16 10,400 9,175 9,550 96,936 776,545 7,514,552 20
1,250 30 Mar-16 10,375 9,375 10,300 79,327 646,595 6,486,963 21
Apr-16 10,450 9,200 9,650 103,785 640,026 6,220,689 21
May-16 9,875 8,650 9,025 82,283 620,912 5,630,533 20
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
Aug-16 11,950 10,200 11,225 110,757 1,108,750 12,388,111 22
Sep-16 11,750 10,500 11,200 98,909 533,559 5,996,901 21
75%
70.0%
Jan-17 11,600 10,900 10,900 58,199 353,534 3,936,579 21
60% Feb-17 11,600 10,900 11,300 70,997 549,633 6,175,257 19
Mar-17 12,025 11,200 11,700 65,917 518,324 6,014,235 22
45% Apr-17 12,425 11,400 11,700 60,748 449,776 5,309,858 17
37.6% May-17 13,300 11,500 12,600 76,415 489,638 5,915,605 20
30% Jun-17 12,850 12,150 12,750 44,727 283,347 3,545,827 15
24.6% Jul-17 13,650 12,675 13,650 63,234 416,102 5,527,186 21
Aug-17 13,675 13,050 13,100 63,733 404,008 5,339,932 22
15%
Sep-17 13,325 6,500 6,725 63,959 716,539 5,611,621 19
Oct-17 7,150 6,575 7,050 72,621 1,130,306 7,793,188 22
-
Nov-17 7,600 6,925 7,400 77,161 1,239,339 9,016,255 22
Dec-17 8,100 7,300 8,000 62,201 834,133 6,343,226 18
-15%
Jan-18 8,300 7,650 8,150 91,640 1,292,811 10,380,113 22

-30% Feb-18 9,050 7,925 8,300 80,550 831,900 6,900,691 19
Mar-18 8,475 7,525 7,675 93,829 987,194 7,934,761 21
-45% Apr-18 8,125 6,500 7,125 100,126 1,011,407 7,469,452 21
Jun-18 7,450 6,425 6,850 76,823 767,485 5,268,917 13
Jul-18 6,975 6,250 6,650 99,178 1,164,833 7,515,298 22
Frequency (Thou. X) 967 1,073 780 1,166 160 Nov-18 7,650 6,800 7,400 132,435 1,235,644 9,055,767 21
Days 244 246 238 240 22 Dec-18 7,725 7,100 7,375 81,629 869,777 6,500,083 18
Price (Rupiah) Jan-19 8,050 7,050 7,450 159,524 1,583,001 11,892,257 22

High 12,550 11,950 13,675 9,050 8,050
Low 7,150 8,650 6,500 6,175 7,050
Close 9,250 11,575 8,000 7,375 7,450
Close* 4,625 5,788 8,000 7,375 7,450
PER (X) 10.51 16.86 18.09 14.12 13.76

PER Industry (X) 25.09 20.71 19.10 25.63 24.30
PBV (X) 1.81 1.77 2.20 1.95 1.86


Cash on Hand 20,704,563 25,109,124 22,906,775 24,268,563 21,944,804 1,175,000

940,000
Loans 505,394,870 564,393,595 56,551,643 678,292,520 729,633,840
705,000
Investment 822,014 646,753 829,945 2,690,202 3,401,603
Fixed Assets 8,928,856 9,761,688 35,663,290 36,618,753 36,743,017
470,000
Other Assets 11,239,398 11,292,727 11,557,238 15,014,218 17,690,130
Total Assets 855,039,673 910,063,409 1,038,706,009 1,124,700,847 1,173,644,878 235,000
Growth (%) 6.44% 14.14% 8.28% 4.35%
-
Deposits 600,980,756 634,968,568 711,399,426 753,822,372 760,310,080 2014 2015 2016 2017 Sep-18
Taxes Payable 1,875,141 2,131,616 1,258,792 1,009,832 1,247,938
Fund Borrowings 24,227,104 33,764,671 35,882,757 35,703,679 50,853,764
176,277
170,006
Growth (%) 5.62% 12.00% 7.70% 4.27%
153,370
176,277
Authorized Capital 16,000,000 16,000,000 16,000,000 32,000,000 16,000,000

119,492
140,317
Paid up Capital 11,666,667 11,666,667 11,666,667 23,333,333 11,666,667 104,845

Par Value 500 500 500 500 250

68,395
Total Equity 104,844,562 119,491,841 153,369,723 170,006,132 176,277,019

Growth (%) 13.97% 28.35% 10.85% 3.69%
32,435

-3,526
2014 2015 2016 2017 Sep-18

Growth (%) 14.26% 7.18% 3.64%
79,502
Other Operating Revenue 14,687,815 18,378,678 19,286,425 22,281,641 19,172,703 76,710
71,570
79,502

62,638
Income from Operations 25,978,106 26,338,972 18,612,727 27,169,751 23,594,531 63,283
Growth (%) 1.39% -29.33% 45.97%

47,065
Non-Operating Revenues 29,909 30,458 -39,762 -12,888 23,242


14,628
Growth (%) 2.41% -30.74% 46.37%

-1,590
2014 2015 2016 2017 Sep-18

RATIOS Dec-14 Dec-15 Dec-16 Dec-17 Sep-18 20,655 21,152 21,443
Dividend (Rp) 212.91 261.45 266.27 199.03 - 18,700

21,443
EPS (Rp) 851.65 871.50 591.71 442.28 387.68

14,650
4,493.34 5,121.08 6,572.99 3,642.99 3,777.36
17,069
BV (Rp)
DAR (X) 0.82 0.81 0.79 0.79 0.79 12,694
DER(X) 6.65 6.16 5.38 5.22 5.25

ROA (%) 2.42 2.32 1.41 1.91 1.59 8,320
ROE (%) 19.70 17.70 9.55 12.61 10.61

OPM (%) 41.47 36.80 24.26 34.18 34.98
3,946
NPM (%) 32.97 29.55 19.10 26.97 27.73 -429
Payout Ratio (%) 25.00 30.00 45.00 45.00 - 2014 2015 2016 2017 Sep-18
Yield (%) 1.98 2.83 2.30 2.49 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

BARITO PACIFIC TBK.
Company Profile
PT Barito Pacific Tbk. was established on 1979 under the name of PT Bumi Raya Pura Mas Kalimantan.
The Company started its commercial operations in 1983 as an integrated wood-based company.
Moreover, Barito Pacific was highly regarded in forestry and timber industry in the '80s. Barito Pacific
changed its status to public company in 1993 through shares listing in the Jakarta Stock Exchange and
Surabaya Stock Exchange, which have been merged into Indonesia Stock Exchange (BEI). This change was
followed by the Company’s name change to PT Barito Pacific Timber Tbk. in 1996. Since then, Barito
Pacific has grown into a resource-based company with diversified products. In line with its development,
Barito Pacific changed its name to PT Barito Pacific Tbk. in 2007.
Currently, the Company through its entities performs business in the fields of forestry, petrochemical,
property, plantation and renewable energy. Some main products and services produced by the
Company’s subsidiaries are feedstocks for the downstream plastics industry (ethylene, propylene, pygas,
and mixed C4), plantation commodities (palm oil, and their derivatives), property rental (office and
hotel), and so forth.
In 2007, the Company became the majority shareholder of Chandra Asri, the only olefin producer in
Indonesia. In 2008, the Company also acquired PT Tri Polyta Indonesia Tbk., a leading polypropylene
producer in Indonesia. Both of these companies subsequently decided to merge as PT Chandra Asri
Petrochemical Tbk., the biggest and most integrated petrochemical producer in Indonesia. Recently, the
Company acquired 66.67% ownership interest in Star Energy Group Holdings Pte. Ltd. The Company
considers this as a long-term opportunity, particularly considering that renewable energy hasn’t made
significant contribution in Indonesia while consistently improving in its performance.
The Company’s head office in Jakarta is located at Wisma Barito Pacific Tower B, 8th. Floor , Jl. Letjen S.
Parman Kav. 62-63 Jakarta 11410. As of September 30th, 2018, the Company and subsidiaries had 2,407
permanent employees.
February 2019
Disclaimer:

BRPT Barito Pacific Tbk.

Industry Sector : Basic Industry& Chemicals (3) Listed Shares : 17,791,586,878
Industry Sub Sector : Chemicals (34) Market Capitalization : 46,436,041,751,580
26 | 46.4T | 0.63% | 62.83%
49 | 10.2T | 0.49% | 74.10%

Established Date : 04-Apr-1979 1. Prajogo Pangestu 8,328,809,060 : 46.81%
Listing Date : 01-Oct-1993 (IPO Price: 7,200) 2. Prajogo Pangestu 3,116,717,171 : 17.52%
Underwriter IPO : 3. Prajogo 1,045,000,000 : 5.87%
PT Makindo 4. Public (<5%) 5,301,060,647 : 29.80%
Securities Administration Bureau :
PT Sirca Datapro Perdana DIVIDEND ANNOUNCEMENT
Bonus Cash Recording Payment
F/I
BOARD OF COMMISSIONERS Year Shares Dividend Cum Date Ex Date Date Date
1. Prajogo Pangestu 1993 133.00 26-Jul-94 27-Jul-94 3-Aug-94 3-Sep-94 F
2. Alimin Hamdy *) 1994 1:1 12-Sep-94 13-Sep-94 20-Sep-94 20-Oct-94 BS
3. Harlina Tjandinegara 1994 50.00 26-Jul-95 27-Jul-95 4-Aug-95 1-Sep-95 F
*) Independent Commissioners 1995 50.00 18-Jul-96 19-Jul-96 29-Jul-96 27-Aug-96 F
1996 55.00 23-Jul-97 24-Jul-97 1-Aug-97 1-Sep-97 F
BOARD OF DIRECTORS 2017 24.43 26-Jun-18 27-Jun-18 29-Jun-18 18-Jul-18 F
1. Agus Salim Pangestu 2018 14.13 18-Dec-18 19-Dec-18 18-Dec-18 21-Dec-18 I
2. Andry Setiawan
3. David Kosasih ISSUED HISTORY
4. Rudy Suparman Listing Trading
AUDIT COMMITTEE 1. First Issue 85,000,000 1-Oct-93 1-Oct-93
1. Alimin Hamdy 2. Company Listing 610,150,000 1-Oct-93 31-May-94
2. Dikdik Sugiharto 3. Koperasi 4,850,000 1-Oct-93 31-May-00
3. Kurniadi 4. Bonus Shares 700,000,000 21-Oct-94 21-Oct-94
5. Add. Listing without RI 1,369,425,752 27-Dec-02 27-Dec-02
CORPORATE SECRETARY 6. Partial Delisting -155,913,126 14-Feb-03 14-Feb-03
Rudy Suparman 7. Add. Listing without RI 3,947,168 28-Aug-03 28-Aug-03
8. Right Issue 4,362,432,990 2-Jan-08 2-Jan-08
HEAD OFFICE 9. Stock Split 6,979,892,784 12-Jul-17 12-Jul-17
Wisma Barito Pacific Tower B, 8th Floor 10. Right Issue I 3,154,738,671 20-Jun-18 20-Jun-18
Jl. Letjen S. Parman Kav. 62-63 11. Right Issue I 1,683,530 21-Jun-18 21-Jun-18
Jakarta 11410 12. Right Issue I 46,933,612 26-Jun-18 26-Jun-18
Phone : (021) 530-6711 13. Right Issue I 27,445,497 27-Jun-18 27-Jun-18
Fax : (021) 530-6680 14. Right Issue II 601,000,000 28-Jun-18 28-Jun-18
Email : corpsec@barito.co.id


TRADING ACTIVITIES
Barito Pacific Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
2,800 1,600 Jan-15 310 280 307 1,090 7,150 2,136 21
Feb-15 310 288 295 490 3,508 1,044 19
2,450 1,400 Mar-15 295 271 280 669 5,301 2,581 22
Apr-15 290 256 267 309 2,789 1,906 21
May-15 290 249 277 1,126 8,269 2,197 17
2,100 1,200
Jun-15 280 240 242 417 6,392 1,599 21
Jul-15 244 222 222 185 3,036 701 18
1,750 1,000
Aug-15 232 160 163 713 6,099 1,176 20
Sep-15 164 116 126 904 16,652 2,100 21
1,400 800
Oct-15 169 126 132 1,654 25,177 3,584 21
Nov-15 143 120 127 605 22,075 2,948 21
1,050 600 Dec-15 135 118 130 485 130,494 15,771 19
700 400 Jan-16 215 124 212 1,713 11,996 2,239 20

Feb-16 395 212 394 3,979 28,581 8,692 20
350 200 Mar-16 610 390 470 4,450 30,584 15,708 14
Apr-16 525 340 515 3,542 23,111 10,283 21
May-16 545 442 476 4,294 27,227 13,321 20
Jun-16 500 460 484 3,738 19,158 9,129 22
Jul-16 685 474 645 3,282 44,416 22,103 16
Aug-16 1,090 610 1,075 16,201 220,091 206,996 21
Sep-16 1,125 780 975 32,057 406,011 382,508 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-16 1,485 910 1,420 48,744 662,129 768,145 21
Basic Industry and Chemicals Index Nov-16 1,745 1,385 1,570 55,597 742,572 1,158,637 22
1,750%
1636.8% Jan-17 1,820 1,470 1,805 55,908 566,611 959,501 21
1,500% Feb-17 2,560 1,770 2,220 78,258 685,154 1,512,444 19
Mar-17 3,090 2,210 2,900 70,853 705,534 1,859,438 22
1,250% Apr-17 3,730 2,900 3,150 51,958 490,588 1,640,537 17
May-17 3,520 2,940 3,230 46,329 1,073,704 1,737,927 20
1,000% Jun-17 3,340 2,750 2,930 26,743 317,340 1,004,417 15
Jul-17 3,030 1,450 1,665 41,005 588,352 1,093,868 21
Aug-17 2,020 1,665 1,975 69,300 827,331 1,544,829 22
750%
Sep-17 2,300 1,965 1,995 57,852 768,811 1,641,921 19
Oct-17 2,080 1,820 2,020 70,907 813,387 1,595,127 22
500%
Nov-17 2,290 1,980 2,270 45,155 697,997 1,475,941 22
Dec-17 2,450 2,210 2,260 38,230 815,777 1,588,593 18
250%
68.3% Jan-18 2,670 2,030 2,640 67,075 678,750 1,526,773 22

- 24.6% Feb-18 2,720 2,310 2,620 46,196 502,721 1,265,078 19
Mar-18 2,670 2,300 2,310 44,945 658,766 1,631,983 21
-250% Apr-18 2,620 2,290 2,470 33,830 467,695 1,149,618 21
Jun-18 2,220 1,880 1,980 27,945 283,001 594,806 13
Jul-18 2,000 1,675 1,815 47,422 456,206 856,380 22
Volume (Million Sh.) 237 2,714 8,351 5,221 217 Sep-18 1,895 1,510 1,840 29,922 185,138 320,861 19
Value (Billion Rp) 38 3,331 17,655 11,175 524 Oct-18 1,935 1,580 1,875 28,330 183,691 327,152 23
Days 241 238 238 240 22 Dec-18 2,420 1,980 2,390 20,727 937,069 1,676,286 18
Price (Rupiah) Jan-19 2,640 2,280 2,610 33,308 216,933 524,154 22

High 310 1,745 3,730 2,720 2,640
Low 116 124 1,450 1,510 2,280
Close 130 1,465 2,260 2,390 2,610
Close* 66 741 2,287 2,390 2,610
PER (X) -12.28 6.05 19.72 30.35 33.14

PER Industry (X) 4.10 20.86 13.10 13.74 15.89
PBV (X) 0.06 0.57 1.15 1.05 1.14


Public Accountant : Satrio Bing Eny & Partners
Receivables 1,393,715 879,493 1,993,661 2,944,536 5,115,362

2,769,336 2,687,097 2,719,205 3,272,939 4,504,721 90,000
Inventories
Current Assets 8,637,399 6,573,181 9,791,794 20,376,964 28,464,154
67,500
Fixed Assets 17,879,722 23,265,291 9,791,794 23,102,768 33,697,381
Other Assets 74,355 50,010 43,640 64,231 71,988
45,000
Total Assets 28,918,911 33,023,452 34,538,447 49,354,389 100,796,876
Growth (%) 14.19% 4.59% 42.90% 104.23% 22,500

Growth (%) -1.93% -2.69% 46.10% 172.94%
Paid up Capital 6,979,893 6,979,893 6,979,893 13,959,786 10,469,839 40,669

Par Value 1,000 1,000 1,000 50 & 1000 500 27,325
32,372
Retained Earnings -1,438,111 -1,804,936 114,999 1,716,193 2,296,155

Total Equity 13,118,774 17,528,438 19,460,272 27,324,948 40,668,686 19,460
24,076
17,528
Growth (%) 33.61% 11.02% 40.41% 48.83% 15,779 13,119
Total Revenues 30,802,567 20,609,779 26,352,121 33,231,171 35,194,744

Growth (%) -33.09% 27.86% 26.10%
-813
2014 2015 2016 2017 Sep-18
Cost of Revenues 29,435,278 18,570,800 19,802,662 25,920,061 25,322,988

Gross Profit 1,367,288 2,038,979 6,549,459 7,311,110 9,871,756
Expenses (Income) 1,297,485 1,529,839 1,443,201 2,089,657 4,030,935
Operating Profit - - - - - 35,195
33,231
Growth (%) 30,803
35,195
28,015
26,352
20,610
Income before Tax 69,803 509,140 5,106,258 5,221,453 5,840,822 20,835
Tax 87,214 434,653 1,346,919 1,429,517 2,346,525

Profit for the period -17,410 74,487 3,759,339 3,791,936 3,239,921 13,656
Growth (%) N/A 4,946.98% 0.87%

6,476
Period Attributable 108,243 78,488 1,769,575 1,600,236 1,199,351 -704
Comprehensive Income -29,349 2,697 3,709,881 3,797,274 3,602,741 2014 2015 2016 2017 Sep-18
Comprehensive Attributable 119,622 145,515 1,730,597 1,615,816 1,199,351
Current Ratio (%) 140.40 110.58 133.83 172.26 189.84
3,759 3,792
Dividend (Rp) - - - 24.43 14.13 3,792
3,240
EPS (Rp) 15.51 11.24 253.52 76.42 37.77
BV (Rp) 1,879.51 2,511.28 2,788.05 1,304.94 1,280.85 3,030
DAR (X) 0.55 0.47 0.44 0.45 0.60

DER(X) 1.20 0.88 0.77 0.81 1.48
2,268
ROA (%) -0.06 0.23 10.88 7.68 3.21 1,506
ROE (%) -0.13 0.42 19.32 13.88 7.97

GPM (%) 4.44 9.89 24.85 22.00 28.05 744
OPM (%) - - - - - 2014 74
NPM (%) -0.06 0.36 14.27 11.41 9.21

-17
-17 2015 2016 2017 Sep-18

Payout Ratio (%) - - - 31.97 37.41
Yield (%) - - - 1.08 0.77
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

BUMI SERPONG DAMAI TBK.
Company Profile
PT Bumi Serpong Damai Tbk. was established in 1984 and started its commercial operations in 1989. The
Company’s purpose is to engage in real estate development activities. The company has been developing a
new city, which is a planned and integrated residential area, with amenities/infrastructure, environmental
facilities and parks, called the BSD City. Since 2008, the company has become a public company that listed
in the Indonesia Stock Exchange.
PT Bumi Serpong Damai Tbk. has been at the forefront of self-sufficient city development since 1984. A
business group under Sinar Mas Land, the Company brought to Indonesia its flagship project, the BSD City –
the most ambitious urban planning scheme in Indonesia to combine housing, business and commercial
properties.
The Company is one of the biggest property developers in Indonesia with a series of diversified portfolio in
the context of products and locations. Currently, the company product development is not only focused on
Jabodetabek, but has reached other areas, such as Semarang, Surabaya, Medan, Palembang, Balikpapan,
Samarinda, Manado and Makassar. In total, The company is currently present in 9 big cities in Indonesia.
The three largest subsidiaries of the Company are PT Duta Pertiwi Tbk., PT Sinar Mas Wisesa, and PT Sinar
Mas Teladan.
The Company’s office is located at Sinar Mas Land Plaza, BSD Green Office Park, Tangerang 15345. The
Company’s real estate project is called Bumi Serpong Damai which is located in Banten Province.
In 2018, the company received a number of awards: Best Urban Regeneration Project, BCI Asia Awards 2018
Top 10 Developer, Asia Pacific Property Awards 2018. Asia Pacific Property Awards 2018, Asia Pacific
Property Awards 2018 Park for Office Development, Asia Pacific Property Awards 2018 For Public Service
Development, Etc.
As of September 30th, 2018, the Company has a total number of 2,159 employees. The total number of
employees of the Group is 4,125.
February 2019
Disclaimer:
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being those of the publisher or of
the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the publication it should not be by
any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or otherwise responsible in anyway for any advice
action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.

BSDE Bumi Serpong Damai Tbk.

Industry Sub Sector : Property And Real Estate (61) Market Capitalization : 25,598,105,935,360
50 | 25.6T | 0.35% | 73.76%
62 | 7.37T | 0.35% | 79.58%

Established Date : 16-Jan-1984 1. PT Paraga Arta Mida 5,113,851,730 : 26.57%
Listing Date : 06-Jun-2008 (IPO Price: 550) 2. PT Ekacentra Usahamaju 4,813,031,900 : 25.01%
PT CLSA Indonesia
PT Nusadana Capital Indonesia (affiliated) DIVIDEND ANNOUNCEMENT
PT Sinarmas Sekuritas (affiliated) Bonus Cash Recording Payment
F/I
PT Sinartama Gunita 2008 4.00 1-Jul-09 2-Jul-09 6-Jul-09 22-Jul-09 F
2009 6.00 1-Jul-10 2-Jul-10 6-Jul-10 20-Jul-10 F
1. Muktar Widjaja 2012 15.00 21-Jun-13 24-Jun-13 26-Jun-13 10-Jul-13 F
2. Susiyati Bambang Hirawan *) 2013 15.00 12-Jun-14 13-Jun-14 17-Jun-14 1-Jul-14 F
3. Teddy Pawitra *) 2014 15.00 13-May-15 15-May-15 19-May-15 5-Jun-15 F
4. Teky Mailoa 2015 5.00 26-May-16 27-May-16 31-May-16 15-Jun-16 F
5. Yoseph Fransciscus Bonang 2016 5.00 9-Jun-17 12-Jun-17 14-Jun-17 6-Jul-17 F
*) Independent Commissioners
ISSUED HISTORY
BOARD OF DIRECTORS Listing Trading
1. Franciscus Xaverius Ridwan Darmali No. Type of Listing Shares Date Date
2. Hermawan Wijaya 1. First Issue 1,093,562,000 6-Jun-08 6-Jun-08
3. Liauw Herry Hendarta 2. Company Listing 9,842,060,870 6-Jun-08 1-Feb-09
4. Lie Jani Harjanto 3. HMETD I 6,561,373,722 21-Dec-10 21-Dec-10
5. Michael Jackson Purwanto Widjaja 4. Add. Listing without RI 874,849,800 16-May-14 16-May-14
6. Monik William 5. Add. Listing without RI 874,849,800 14-Apr-15 14-Apr-15
7. Petrus Kusuma
8. Syukur Lawigena
AUDIT COMMITTEE
1. Susiyati Bambang Hirawan
2. Herawan Hadidjaja
3. Rusli Prakarsa
CORPORATE SECRETARY
Christy Grassela
HEAD OFFICE
Sinar Mas Land Plaza
Grand Boulevard, BSD Green Office Park
Tangerang 15345
Phone : (021) 5036-8368
Fax : (021) 5058-8270
Homepage : www.bsdcity.com; www.sinarmasland.com
Email : corporate.secretary@sinarmasland.com
christy.grassela@sinarmasland.com


TRADING ACTIVITIES
Bumi Serpong Damai Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
2,400 560 Jan-15 2,185 1,790 2,020 54,447 1,380,570 2,725,175 21
Feb-15 2,230 1,990 2,220 53,279 819,829 1,719,779 19
2,100 490 Mar-15 2,220 1,995 2,135 62,387 862,616 1,783,198 22
Apr-15 2,210 1,800 1,865 47,444 642,577 1,310,178 21
May-15 1,995 1,780 1,905 46,933 599,520 1,140,180 19
1,800 420
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
1,500 350
Aug-15 1,845 1,285 1,605 50,155 345,195 555,520 20
Sep-15 1,605 1,235 1,405 52,164 309,768 451,821 21
1,200 280
Oct-15 1,795 1,380 1,620 48,845 539,657 893,122 21
Nov-15 1,750 1,565 1,685 39,619 389,705 657,357 21
900 210 Dec-15 1,835 1,580 1,800 38,504 372,398 645,560 19
600 140 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
300 70 Mar-16 1,940 1,675 1,835 55,999 1,460,762 2,583,391 21
Apr-16 2,005 1,795 1,850 46,125 1,220,928 2,300,898 21
May-16 1,845 1,695 1,830 42,386 640,007 1,136,003 20
Jun-16 2,210 1,815 2,110 58,891 1,084,821 2,158,806 22
Jul-16 2,170 2,000 2,090 51,646 598,437 1,220,871 16
Aug-16 2,380 2,010 2,150 79,592 1,049,840 2,311,552 22
Sep-16 2,230 1,965 2,200 60,899 889,291 1,878,939 21
Property, Real Estate and Bulding Construction Index Nov-16 2,180 1,680 1,700 61,762 704,861 1,311,439 22
30%
24.6% Jan-17 1,900 1,705 1,830 50,289 616,470 1,115,405 21
20% Feb-17 1,920 1,800 1,830 34,977 396,792 746,056 19
Mar-17 1,885 1,700 1,885 40,260 693,197 1,270,594 22
10% Apr-17 1,900 1,750 1,790 39,696 376,386 679,573 17
May-17 1,865 1,655 1,810 52,522 508,844 908,721 20
- Jun-17 1,840 1,755 1,830 36,210 238,327 428,062 15
Jul-17 1,900 1,720 1,790 41,729 420,300 752,575 21
Aug-17 1,875 1,765 1,835 44,444 374,815 685,435 22
-10%
-12.6% Sep-17 1,850 1,745 1,770 30,760 332,187 594,725 19
Oct-17 1,830 1,705 1,720 38,083 395,445 676,804 22
-20%
Nov-17 1,775 1,615 1,650 43,669 334,552 565,019 22
Dec-17 1,725 1,560 1,700 32,021 218,542 357,454 18
-30% -28.7%
Jan-18 1,845 1,665 1,820 54,127 418,297 726,323 22

-40% Feb-18 1,940 1,740 1,935 45,088 465,688 856,602 19
Mar-18 1,965 1,700 1,780 66,423 463,615 826,000 21
-50% Apr-18 1,845 1,635 1,690 41,587 312,049 552,688 21
Jun-18 1,785 1,550 1,565 38,515 220,411 371,263 13
Jul-18 1,580 1,350 1,350 52,575 348,475 502,419 22
Value (Billion Rp) 13,220 18,663 8,780 7,343 757 Oct-18 1,165 930 1,100 57,841 599,280 641,971 23
Days 244 246 238 240 22 Dec-18 1,385 1,190 1,255 40,395 328,148 428,951 18
Price (Rupiah) Jan-19 1,510 1,245 1,330 61,784 538,913 756,961 22

High 2,230 2,380 1,920 1,965 1,510
Low 1,235 1,550 1,560 930 1,245
Close 1,800 1,755 1,700 1,255 1,330
Close* 1,800 1,755 1,700 1,255 1,330
PER (X) 16.19 21.87 6.65 30.24 32.04

PER Industry (X) 13.36 24.89 14.52 27.07 28.17
PBV (X) 1.57 1.44 1.12 0.81 0.85


Public Accountant : Mirawati Sensi Idris
Receivables 138,627 165,542 516,499 624,955 410,746

50,000
Inventories 5,239,017 6,547,652 7,440,632 7,910,269 8,964,407

37,500
Investment 5,735,418 6,332,810 846,643 7,437,716 7,439,529
Fixed Assets 607,790 803,253 823,401 771,970 698,442
25,000
Other Assets 415 415 415 1,575 1,612
Total Assets 28,134,725 36,022,148 38,292,206 45,951,188 52,421,952
12,500
Growth (%) 28.03% 6.30% 20.00% 14.08%
-
Trade Payable 158,055 316,601 261,224 1,767,641 1,517,102 2014 2015 2016 2017 Sep-18
Growth (%) 44.14% 0.10% 20.19% 33.86%
29,197 29,995
Paid up Capital 1,837,185 1,924,670 1,924,670 1,924,670 1,924,670 24,353

22,097
23,876
18,473
Par Value 100 100 100 100 100
17,757
Total Equity 18,473,430 22,096,690 24,352,907 29,196,851 29,995,320 11,638
Growth (%) 19.61% 10.21% 19.89% 2.73%

5,519

Total Revenues 5,571,872 6,209,574 6,521,770 10,347,343 4,787,176
-600
2014 2015 2016 2017 Sep-18

Growth (%) 11.45% 5.03% 58.66%
Cost of Revenues 1,440,361 1,571,559 1,840,304 2,756,914 1,277,346

Gross Profit 4,131,511 4,638,016 4,681,466 7,590,429 3,509,830
Operating Expenses 1,499,935 2,090,606 2,205,389 2,528,033 1,955,864 10,347
Operating Profit 2,631,576 2,547,410 2,476,077 5,062,396 1,553,966

Growth (%) -3.20% -2.80% 104.45% 8,236
6,210 6,522
Other Income (Expenses) 8,170 -232,949 -651,912 -328,862 -663,487 5,572
4,787
6,126
Income Before Tax 4,306,326 2,362,082 2,065,443 5,228,121 882,855

Tax 309,862 10,702 27,905 39,349 5,918 4,015
Profit for the period 3,996,464 2,351,380 2,037,538 5,188,772 876,937

Growth (%) -41.16% -13.35% 154.66%
1,904
-207
Period Attributable 3,820,552 2,139,497 1,796,156 4,920,228 599,168 2014 2015 2016 2017 Sep-18
Comprehensive Income 3,994,332 2,346,110 2,018,142 5,119,062 836,360
Comprehensive Attributable 3,817,256 2,134,233 1,777,979 4,852,979 557,958
Dividend (Rp) 15.00 5.00 5.00 - - 5,189
EPS (Rp) 217.53 122.17 105.86 269.59 45.56 3,996

BV (Rp) 1,005.53 1,148.08 1,265.30 1,516.98 1,558.47 4,130
DAR (X) 0.34 0.39 0.36 0.36 0.43

DER(X) 0.52 0.63 0.57 0.57 0.75 2,351
3,072
2,038
ROA (%) 14.20 6.53 5.32 11.29 1.67 2,013
ROE (%) 21.63 10.64 8.37 17.77 2.92

877
GPM (%) 74.15 74.69 71.78 73.36 73.32 955
OPM (%) 47.23 41.02 37.97 48.92 32.46

NPM (%) 71.73 37.87 31.24 50.15 18.32
-104
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 6.90 4.09 4.72 - -
Yield (%) 1.30 0.43 0.43 - -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

CHAROEN POKPHAND
INDONESIA TBK.
Company Profile
PT Charoen Pokphand Indonesia Tbk (the “Company”) was established in Indonesia under the business
name of PT Charoen Pokphand Indonesia Animal Feedmill Co. Limited. The Company started its
commercial operations in 1972. The controlling shareholder of the Company is The Jiaravanon family.
Based on the latest Articles of Association, the business activities of the Company are:
Core business: to engage in feed mill industry, breeding and cultivation of chicken and its processing,
food processing industry, preservation of chicken meat and beef, including cold storage units. to sell
feed, food, chicken meat and beef, husbandry products in the territory of the Republic of Indonesia, or
abroad to the extent allowed under the prevailing regulations.
Supporting activities: to import and sell raw materials and pharmaceutical materials. to manufacture
and sell sacks or plastic packaging materials, plastic products for industry, poultry equipment and
household appliances made of plastic in accordance with the licenses obtained and to the extent it
does not contravene any regulations on investment. to engage in wholesale trading, including export,
import, inter-island or inter-regional trade. to engage in transportation of goods in general, by way of
land, water, sea and air transportation. to engage in warehousing and distribution center business.
Charoen Pokphand Indonesia has direct ownership in the following subsidiaries: PT Charoen Pokphand
Jaya Farm, PT Primafood International, PT Vista Grain, PT Poly Packaging Industry, PT Feprotama
Pertiwi, PT Agrico International, PT Sarana Farmindo Utama, PT Singa Mas Internasional.
The Company’s head office is located at Jalan Ancol VIII No. 1, Jakarta and its branches in Sidoarjo,
Medan, Tangerang, Cirebon, Balaraja, Serang, Lampung, Denpasar, Surabaya, Semarang, Makassar, and
Salatiga. As of September 30th, 2018, the Group had 6,527 permanent employees.
February 2019
Disclaimer:
those of the publisher or of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information
contained within the publication it should not be by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange
cannot be held liable or otherwise responsible in anyway for any advice action taken or decision made on the basis of the facts and opinions stated or expressed
or stated within this publication.

CPIN Charoen Pokphand Indonesia Tbk.

Industry Sub Sector : Animal Feed (36) Market Capitalization : 121,345,200,000,000
11 | 121.3T | 1.64% | 48.99%
44 | 11.0T | 0.53% | 71.57%

Established Date : 07-Jan-1972 1. PT Charoen Pokphand Indonesia Group 9,106,385,410 : 55.53%
Listing Date : 18-Mar-1991 (IPO Price: 5,100) 2. Public (<5%) 7,291,614,590 : 44.47%
Underwriter IPO :
PT Asian Development Securities DIVIDEND ANNOUNCEMENT
PT Danareksa Sekuritas Bonus Cash Recording Payment
F/I
PT Surya Securities Year Shares Dividend Cum Date Ex Date Date Date
PT Surya Panjimakmur 1990 50.00 25-Jul-91 26-Jul-91 2-Aug-91 21-Aug-91 F
Securities Administration Bureau : 1991 175.00 3-Jun-92 4-Jun-92 15-Jun-92 22-Jun-92 F
PT Adimitra Jasa Korpora 1992 200.00 30-Oct-92 2-Nov-92 9-Nov-92 17-Nov-92 I
1992 315.00 15-Jun-93 16-Jun-93 24-Jun-93 23-Jul-93 F
1. Hadi Gunawan Tjoe 1993 73.00 22-Jul-94 25-Jul-94 1-Aug-94 1-Sep-94 F
2. Rusmin Ryadi 1993 73.00 22-Jul-94 25-Jul-94 1-Aug-94 1-Sep-94 I
3. Suparman Sastodimejo *) 1994 155.00 13-Jul-95 14-Jul-95 24-Jul-95 10-Aug-95 F
*) Independent Commissioners 1995 230.00 21-Sep-95 22-Sep-95 2-Oct-95 9-Oct-95 I
1997 4:1 6-Jun-97 9-Jun-97 17-Jun-97 1-Jul-97 BS
BOARD OF DIRECTORS 1996 20.00 27-Aug-97 28-Aug-97 5-Sep-97 1-Oct-97 F
1. Tjiu Thomas Effendy 1999 50.00 11-Sep-00 12-Sep-00 19-Sep-00 5-Oct-00 F
2. Eddy Dharmawan Mansjoer 2001 10.00 2-Aug-02 5-Aug-02 8-Aug-02 15-Aug-02 F
3. Ferdiansyah Gunawan Tjoe 2002 15.00 23-Sep-03 24-Sep-03 26-Sep-03 10-Oct-03 F
4. Jemmy 2006 38.00 30-Jul-07 31-Jul-07 2-Aug-07 16-Aug-07 F
5. Ong Mei Sian 2009 196.00 22-Jun-10 23-Jun-10 25-Jun-10 9-Jun-10 F
6. Peraphon Prayoorayong 2010 39.80 16-Jun-11 17-Jun-11 21-Jun-11 5-Jul-11 F
7. Vinai Rakphongphairoj 2011 42.00 7-Jun-12 8-Jun-12 12-Jun-12 26-Jun-12 F
2012 46.00 28-Jun-13 1-Jul-13 3-Jul-13 17-Jul-13 F
AUDIT COMMITTEE 2013 46.00 30-Jun-14 1-Jul-14 3-Jul-14 18-Jul-14 F
1. Herman Sugianto 2014 18.00 26-Jun-15 29-Jun-15 1-Jul-15 15-Jul-15 F
2. Harlan Budiono 2015 29.00 22-Jun-16 23-Jun-16 27-Jun-16 15-Jul-16 F
3. Kong Djung Hin 2016 56.00 31-May-17 2-Jun-17 6-Jun-17 16-Jun-17 F
4. Suparman Sastrodimejo 2017 56.00 31-May-18 4-Jun-18 6-Jun-18 22-Jun-18 F
5. Yustinus Eddy Tiono
ISSUED HISTORY
Hadijanto Kartika No. Type of Listing Shares Date Date
1. First Issue 2,500,000 18-Mar-91 18-Mar-91
HEAD OFFICE 2. Partial Listing 5,000,000 18-Mar-91 18-Jun-91
Jl. Ancol VIII/1 3. Company Listing 45,000,000 11-Nov-91 18-Nov-91
Jakarta 14430 4. Convertible Bond 839,738 20-Oct-94 20-Oct-94
Phone : (021) 691-9999 5. Convertible Bond 2,967,029 1-Dec-94 1-Dec-94
Fax : (021) 690 7324 6. Right Issue 56,306,767 7-Feb-95 7-Feb-95
Homepage : www.astragraphia.co.id 7. Stock Split 112,613,534 26-May-97 26-May-97
Email : investor.relations@cp.co.id 8. Bonus Shares 56,306,767 2-Jul-97 2-Jul-97
9. Stock Split 1,126,135,340 15-Jan-01 15-Jan-01
10. Right Issue 234,611,529 1-Aug-07 1-Aug-07
11. Stock Split 1,642,280,704 1-Nov-07 1-Nov-07
12. Stock Split 13,138,245,632 8-Dec-10 8-Dec-10
13. Buy Back -24,807,040 3-Jan-12 3-Jan-12


TRADING ACTIVITIES
Charoen Pokphand Indonesia Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
10,000 72.0 Jan-15 4,025 3,725 3,955 47,230 169,097 657,060 21
Feb-15 3,925 3,740 3,785 39,903 181,862 693,947 19
8,750 63.0 Mar-15 3,830 3,345 3,545 45,919 172,460 631,070 22
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
7,500 54.0
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
6,250 45.0
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
5,000 36.0
Oct-15 2,605 2,010 2,500 44,798 146,431 353,477 21
Nov-15 3,390 2,410 3,165 46,862 147,436 433,827 21
3,750 27.0 Dec-15 3,400 2,600 2,600 65,525 195,345 577,969 19
2,500 18.0 Jan-16 3,400 2,605 3,345 54,758 196,108 586,715 20

Feb-16 3,760 3,125 3,380 55,104 167,555 588,308 20
1,250 9.0 Mar-16 3,755 3,240 3,590 66,375 173,456 603,359 21
Apr-16 3,785 3,460 3,715 38,617 91,824 335,213 21
May-16 3,750 2,950 3,500 51,605 155,671 520,204 20
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
Aug-16 3,980 3,580 3,730 40,020 115,400 442,763 22
Sep-16 3,800 3,360 3,500 44,318 173,586 617,077 21
Basic Industry and Chemicals Index Nov-16 3,740 3,050 3,150 62,446 170,203 574,057 22
150%
Jan-17 3,270 2,990 3,100 33,052 80,470 255,466 21
120% Feb-17 3,550 3,050 3,100 37,713 141,861 461,781 19
Mar-17 3,340 3,020 3,200 46,348 172,956 553,035 22
90% 94.7% Apr-17 3,400 3,180 3,190 28,524 112,841 368,802 17
May-17 3,220 2,950 3,170 35,222 153,866 468,493 20
68.3% Jun-17 3,270 3,000 3,180 23,232 91,416 286,274 15
60%
Jul-17 3,400 2,590 2,670 41,009 200,278 591,365 21
Aug-17 2,950 2,680 2,770 36,182 151,284 423,651 22
30%
24.6% Sep-17 2,830 2,650 2,740 28,392 100,810 275,355 19
Oct-17 3,550 2,740 3,300 45,210 182,545 562,300 22
-
Nov-17 3,370 2,900 2,920 35,411 107,592 333,950 22
Dec-17 3,470 2,820 3,000 36,709 112,942 355,949 18
-30%
Jan-18 3,670 3,110 3,450 64,187 153,576 523,315 22

-60% Feb-18 3,680 3,100 3,440 38,535 124,256 423,742 19
Mar-18 3,600 3,200 3,450 31,580 115,960 393,455 21
-90% Apr-18 3,840 3,350 3,680 36,063 133,611 491,855 21
Jun-18 3,810 3,390 3,680 33,950 147,956 541,396 13
Jul-18 4,900 3,510 4,520 51,966 296,807 1,181,092 22
Value (Billion Rp) 5,483 6,119 4,936 9,388 2,088 Oct-18 5,775 4,900 5,500 50,702 153,286 808,499 23
Days 244 246 238 240 22 Dec-18 7,300 5,825 7,225 79,122 184,289 1,237,870 18
Price (Rupiah) Jan-19 8,825 6,900 7,400 103,419 265,723 2,087,993 22

High 4,025 4,020 3,550 7,300 8,825
Low 1,350 2,605 2,590 3,100 6,900
Close 2,600 3,090 3,000 7,225 7,400
Close* 2,600 3,090 3,000 7,225 7,400
PER (X) 23.21 15.23 19.07 25.59 26.21

PER Industry (X) 4.10 20.86 13.10 13.74 15.89
PBV (X) 3.39 3.47 3.24 6.50 6.65


Public Accountant : Purwantono, Suherman & Surja
Receivables 3,522,209 3,339,849 2,837,396 2,568,098 2,768,421

4,333,238 5,454,001 5,109,719 5,696,607 5,909,785 22,000
Inventories
Current Assets 10,009,670 12,013,294 12,059,433 11,720,730 13,245,157
16,500
Fixed Assets 9,058,302 11,123,465 11,233,847 11,009,361 11,434,266
Other Assets 78,296 83,965 108,083 160,867 170,344
11,000
Total Assets 20,862,439 24,684,915 24,204,994 24,522,593 26,675,312
Growth (%) 18.32% -1.94% 1.31% 8.78% 5,500

Growth (%) 22.22% -17.12% -12.22% -4.35%
Paid up Capital 163,980 163,980 1,639,800 163,980 163,980
15,703
18,239

Par Value 10 10 10 10 10 12,561
14,518
10,640,548 12,261,973 13,999,362 15,545,762 18,084,593 10,943

Retained Earnings
Total Equity 10,943,289 12,561,427 14,157,243 15,702,825 18,239,205
10,798
Growth (%) 14.79% 12.70% 10.92% 16.15% 7,077
Total Revenues 29,150,275 30,107,727 38,256,857 49,367,386 39,385,096

Growth (%) 3.28% 27.07% 29.04%
-365
2014 2015 2016 2017 Sep-18
Cost of Revenues 25,016,020 24,967,568 31,743,222 43,116,098 32,498,504

Gross Profit 4,134,255 5,140,159 6,513,635 6,251,288 6,886,592
Expenses (Income) 1,766,507 1,652,086 2,096,519 2,535,014 1,937,966
Growth (%) 47.32% 26.63% -15.87%

49,367
38,257 39,385
39,296
Other Income (Expenses) -260,856 -1,206,445 -433,455 -460,569 -448,597 30,108

29,150
Tax 360,248 449,030 1,731,848 758,918 1,030,489

Growth (%) 4.92% 21.43% 12.19%

9,084
Current Ratio (%) 224.07 210.62 217.28 231.66 284.24
3,470
Dividend (Rp) 18.00 29.00 56.00 56.00 - 3,470
EPS (Rp) 106.52 112.02 13.54 152.32 211.73

667.36 766.03 86.34 957.61 1,112.28 2,497
BV (Rp)
2,762
2,225
DAR (X) 0.48 0.49 0.42 0.36 0.32
1,747 1,833
DER(X) 0.91 0.97 0.71 0.56 0.46
2,054
ROA (%) 8.37 7.42 9.19 10.18 13.01 1,346
ROE (%) 15.96 14.59 15.72 15.90 19.02

GPM (%) 14.18 17.07 17.03 12.66 17.49 638
OPM (%) 8.12 11.59 11.55 7.53 12.56

NPM (%) 5.99 6.09 5.82 5.06 8.81
-69
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 16.90 25.89 413.54 36.76 -
Yield (%) 0.48 1.12 1.81 1.87 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

ELNUSA TBK.
Company Profile
PT Elnusa Tbk. was established under the original name of PT Electronika Nusantara on January 25 th, 1969.
The Company continued its business expansion to the oil & gas data storage and management, oilfield
services, and domestic fuel distribution. In 1984 the Company’s name changed to PT Elnusa.
In accordance with the Company’s Articles of Association, the scope of its activities is to provide services,
trading, mining, construction and industry. The Company started its commercial operations in September
1969.
Currently, the Company is engaged in upstream oil and gas services and investing in shares of stock in
Subsidiaries and associates that are engaged in several industries, such as upstream oil and gas support
services and trading, downstream oil and gas services and trading, oil and gas data management and storage
services, oil and gas field asset management and telecommunication services.
The Company also provides goods and services to its Subsidiaries and related parties and providing and
managing office spaces.
The Company has ownership in subsidiaries: PT Elnusa Geosains Indonesia, PT Elnusa Petrofin, PT Patra Nusa
Data, PT Elnusa Oilfield Services, PT Elnusa Patra Ritel, PT Elnusa Fabrikasi Konstruksi, PT Sigma Cipta Utama,
and PT Elnusa Trans Samudera.
PT Elnusa Tbk. is committed to becoming a company capable of providing with the best and integrated
services in total solutions to the community. Therefore the company always seeks to offer quality services,
reliable infrastructures, and efficient and knowledge-based technology. For this reason, the company
maintains integrity in each of its decision-making by means of self-appreciation, and appreciation to its
customers, suppliers and competitors.
PT Elnusa Tbk. takes high care on quality of products and services. The company's reliable infrastructure and
commitment to efficiency in all of its business lines and activities has become a capital in materializing all the
company's products and services.
The total number of employees 1,962 employees (1,416 permanent employees and 546 contractual
employees) at September 30th, 2018.
February 2019
Disclaimer:

ELSA Elnusa Tbk.

Industry Sub Sector : Crude Petroleum & Natural Gas Production (22) Market Capitalization : 2,656,654,000,000
260 | 2.66T | 0.04% | 95.98%
74 | 5.33T | 0.26% | 83.04%

Established Date : 25-Jan-1969 1. PT Pertamina (Persero) 3,000,000,000 : 41.10%
Listing Date : 06-Feb-2008 (IPO Price: 400) 2. DPP Inhouse 2 1,087,407,500 : 14.90%
PT Mandiri Sekuritas (Affiliated)
PT Datindo Entrycom Bonus Cash Recording Payment
F/I
BOARD OF COMMISSIONERS 2007 2.74 6-Jun-08 9-Jun-08 11-Jun-08 25-Jun-08 F
1. Gigih Prakoso 2008 3.72 9-Jun-09 10-Jun-09 12-Jun-09 25-Jun-09 F
2. Lusiaga Levi Susiala *) 2009 20.00 7-Jan-10 8-Jan-10 12-Jan-10 26-Jan-10 I
3. Narendra Widjajanto 2009 25.00 28-Jul-10 29-Jul-10 2-Aug-10 16-Aug-10 F
4. Pradana Ramadhian G. *) 2010 2.66 1-Jul-11 4-Jul-11 6-Jul-11 20-Jul-11 F
5. Yudo Irianto 2012 1.76 15-May-13 16-May-13 20-May-13 30-May-13 F
*) Independent Commissioners 2013 16.31 5-Jun-14 6-Jun-14 10-Jun-14 24-Jun-14 F
2014 39.56 7-May-15 8-May-15 12-May-15 3-Jun-15 F
BOARD OF DIRECTORS 2016 4.26 29-May-17 30-May-17 2-Jun-17 22-Jun-17 F
1. Tolingul Anwar 2017 5.08 21-May-18 22-May-18 24-May-18 8-Jun-18 F
2. Arief Riyanto
3. Elizar Parlindungan Hasibuan ISSUED HISTORY
4. Hery Setiawan Listing Trading
5. RM Happy Paringhadi Js No. Type of Listing Shares Date Date
1. First Issue 1,460,000,000 6-Feb-08 6-Feb-08
AUDIT COMMITTEE 2. Company Listing 5,838,500,000 6-Feb-08 6-Feb-08
1. Pradana Ramadhian G.
2. Eddy Rachmadi
3. Reynold M Batubara
CORPORATE SECRETARY
Dipa Mulia
HEAD OFFICE
Graha Elnusa
Jl. T.B. Simatupang Kav. 1B
Jakarta 12560
Phone : (021) 7883-0850
Fax : (021) 7883-0907
Email : corporate@elnusa.co.id

ELSA Elnusa Tbk.

TRADING ACTIVITIES
Elnusa Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
680 1,600 Jan-15 685 565 570 26,794 668,291 413,733 21
Feb-15 630 550 565 26,680 684,386 404,784 19
595 1,400 Mar-15 610 505 530 29,110 857,374 489,370 22
Apr-15 610 520 595 24,824 858,950 497,547 21
May-15 640 560 560 20,803 743,632 458,936 19
510 1,200
Jun-15 570 477 484 18,922 342,406 175,476 21
Jul-15 498 381 386 18,024 313,551 143,116 19
425 1,000
Aug-15 401 233 291 52,370 862,040 265,897 20
Sep-15 449 284 334 67,875 1,161,431 438,049 21
340 800
Oct-15 415 337 344 53,833 819,086 304,832 21
Nov-15 356 278 278 34,690 743,079 243,057 21
255 600 Dec-15 304 239 247 30,772 514,644 143,827 19
170 400 Jan-16 250 173 230 57,762 1,524,894 320,229 20

Feb-16 292 191 277 82,108 2,891,814 691,607 20
85 200 Mar-16 384 272 333 71,646 2,379,752 800,686 21
Apr-16 535 314 493 136,845 4,720,249 2,065,680 21
May-16 610 456 595 69,924 2,363,640 1,239,040 20
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
Aug-16 575 486 500 48,607 1,842,786 969,841 22
Sep-16 505 418 456 53,164 1,821,558 834,180 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-16 520 448 454 68,069 1,795,309 870,430 21
Mining Index Nov-16 474 398 424 54,894 1,076,084 469,678 22
January 2015 - January 2019 Dec-16 486 418 420 55,729 1,388,009 633,629 20
80%
Jan-17 472 422 432 37,880 974,320 432,608 21
60% Feb-17 444 406 428 35,141 832,788 355,184 19
Mar-17 432 378 388 32,594 644,687 258,250 22
40% 40.5% Apr-17 450 372 378 46,014 1,352,645 546,604 17
May-17 382 300 308 49,039 2,025,776 706,747 20
24.6% Jun-17 314 272 274 22,068 495,562 146,051 15
20%
Jul-17 296 268 268 27,246 818,286 230,146 21
Aug-17 282 246 254 47,323 1,679,074 438,985 22
-
Sep-17 324 226 304 90,084 3,698,483 1,064,142 19
Oct-17 342 294 308 57,946 2,074,776 660,750 22
-20%
Nov-17 420 300 376 103,503 4,259,353 1,606,805 22
Dec-17 396 330 372 60,265 1,934,981 709,245 18
-40%
-45.7%
Jan-18 466 372 426 89,765 3,076,560 1,296,141 22
-60% Feb-18 540 388 505 76,853 2,563,833 1,184,441 19
Mar-18 525 438 466 45,132 1,002,152 485,280 21
-80% Apr-18 510 400 422 60,632 1,458,882 683,555 21
Jun-18 412 328 336 31,733 519,957 195,018 13
Jul-18 380 290 356 64,746 1,038,189 358,252 22
SHARES TRADED 2015 2016 2017 2018 Jan-19 Aug-18 404 340 362 77,092 1,408,397 529,861 21
Volume (Million Sh.) 8,569 24,536 20,791 15,317 894 Sep-18 378 318 372 46,822 892,668 315,011 19
Value (Billion Rp) 3,979 10,326 7,156 6,301 325 Oct-18 408 346 376 67,952 1,170,359 440,489 23
Frequency (Thou. X) 405 777 609 697 45 Nov-18 376 302 308 45,187 621,778 208,838 21
Days 244 246 238 240 22 Dec-18 348 316 344 40,169 711,578 238,708 18
Price (Rupiah) Jan-19 380 336 364 45,040 893,833 324,704 22

High 685 620 472 540 380
Low 233 173 226 290 336
Close 247 420 372 344 364
Close* 247 420 372 344 364
PER (X) 4.80 12.92 10.99 8.53 9.02

PER Industry (X) 0.60 -4.41 6.26 -1.03 0.14
PBV (X) 0.68 1.12 0.89 0.77 0.82

ELSA Elnusa Tbk.

Cash & Cash Equivalents 1,060,151 934,968 744,387 902,563 716,320 6,250
Receivables 930,446 790,000 713,885 1,258,525 1,525,873

114,830 127,890 130,532 96,508 173,345 5,000
Inventories
Current Assets 2,236,668 2,079,319 1,865,116 2,379,465 2,616,613
3,750
Fixed Assets 1,239,721 1,480,580 1,592,311 1,569,071 1,961,946
Other Assets 27,262 54,111 35,545 39,068 41,766
2,500
Total Assets 4,245,704 4,407,513 4,190,956 4,855,369 5,792,731
Growth (%) 3.81% -4.91% 15.85% 19.31% 1,250

Long Term Liabilities 284,397 323,742 59,032 45,668 249,363 2014 2015 2016 2017 Sep-18
Growth (%) 6.59% -25.90% 37.33% 40.98%
Paid up Capital 729,850 729,850 729,850 729,850 729,850 3,052
2,878
Paid up Capital (Shares) 7,299 7,299 7,299 7,299 7,299 2,583 2,635
Par Value 100 100 100 100 100

2,587

Total Equity 2,582,996 2,635,186 2,877,743 3,051,920 3,250,206
1,924
Growth (%) 2.02% 9.20% 6.05% 6.50% 1,261
INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Sep-18 598
Total Revenues 4,221,172 3,775,323 3,620,570 4,978,986 4,638,547

Growth (%) -10.56% -4.10% 37.52%
-65
2014 2015 2016 2017 Sep-18
Cost of Revenues 3,461,359 3,056,513 3,005,985 4,400,484 4,137,003

Gross Profit 759,813 718,810 614,585 578,502 501,544
Expenses (Income) 200,112 205,789 189,112 241,693 207,450
4,639
Growth (%)
4,979
4,221
3,963
3,775 3,621
Income before Tax 559,701 513,021 425,473 336,809 294,094 2,948
Tax 141,609 133,276 7,155 10,443 73,288

Profit for the period 418,092 379,745 316,066 250,754 220,806 1,932
Growth (%) -9.17% -16.77% -20.66%

916
Period Attributable 412,428 375,364 310,911 247,140 220,807 -100
Comprehensive Income 418,092 375,831 318,798 238,473 236,361 2014 2015 2016 2017 Sep-18
Current Ratio (%) 162.28 143.54 148.71 135.37 114.11
418
Dividend (Rp) 39.56 - 4.26 5.08 - 418
380
EPS (Rp) 56.51 51.43 42.60 33.86 30.25
316
BV (Rp) 353.91 361.06 394.29 418.16 445.33 333
DAR (X) 0.39 0.40 0.31 0.37 0.44 251

221
DER(X) 0.64 0.67 0.46 0.59 0.78
248
ROA (%) 9.85 8.62 7.54 5.16 3.81 162
ROE (%) 16.19 14.41 10.98 8.22 6.79

GPM (%) 18.00 19.04 16.97 11.62 10.81 77
OPM (%) - - - - -
NPM (%) 9.90 10.06 8.73 5.04 4.76
-8
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 70.00 - 10.00 15.00 -
Yield (%) 5.77 - 1.01 1.37 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

ERAJAYA SWASEMBADA TBK.
Company Profile
PT Erajaya Swasembada Tbk established in 1996, PT Erajaya Swasembada Tbk. (“Erajaya”) has grown
beyond an integrated mobile telecommunication device importer, distributor and retailer, where the
Company is also acknowledged as the largest and most trusted companies in its business in Indonesia.
Erajaya engages in the distribution and retail of mobile telecommunication devices, such as mobile phones
and tablets, subscriber identity module card (SIM Card), mobile network operator voucher top-up,
accessories, and gadgets such as computers and other electronic devices.
Erajaya has built strategic partnership with various distinguished global brands, in addition, the Company
also ditributes Venera, a product of Erajaya. The Company, further, also cooperates with credible network
operators in Indonesia for their products distribution.
The Company has direct and indirect ownership interests in the consolidated subsidiaries, are as follows:
PT Teletama Artha Mandiri, PT Erafone Artha Retailindo, PT Nusa Gemilang Abadi, PT Sinar Eka Selaras, Era
International Network Sdn. Bhd, PT Era Sukses Abadi, PT Mandiri Sinergi Niaga, Era International Network
Pte. Ltd, PT Nusantara Prima Sukses Artha, PT Azec Indonesia Management Services, PT Mitra Internasional
Indonesia, PT Indonesia Orisinil Teknologi, Erajaya Swasembada Pte. Ltd.
The Company is domiciled at Jalan Gedong Panjang No. 29-31, Pekojan, Tambora, Jakarta 11240, Indonesia
and started its commercial operations in 2000. As of September 30th, 2018 the Company had 2,260
permanent employees.
February 2019
Disclaimer:

ERAA Erajaya Swasembada Tbk.

Industry Sub Sector : Retail Trade (93) Market Capitalization : 7,305,100,000,000
134 | 7.31T | 0.10% | 88.40%
35 | 16.5T | 0.79% | 65.78%

Established Date : 08-Oct-1996 1. PT Eralink International 1,738,996,040 : 54.51%
Listing Date : 14-Dec-2011 (IPO Price: 1,000) 2. Public (<5%) 1,451,003,960 : 45.49%
Underwriter IPO :
PT Buana Capital DIVIDEND ANNOUNCEMENT
F/I
2012 60.00 25-Jun-13 26-Jun-13 28-Jun-13 12-Jul-13 F
1. Ardy Hady Wijaya 2017 38.00 30-Apr-18 2-May-18 4-May-18 25-May-18 F
2. Lim Bing Tjay *)
3. Richard Halim Kusuma ISSUED HISTORY
*) Independent Commissioners Listing Trading
BOARD OF DIRECTORS 1. First Issue 920,000,000 14-Dec-11 14-Dec-11
1. Budiarto Halim 2. Company Listing 1,980,000,000 14-Dec-11 14-Dec-11
2. Andreas Harun Djumadi 3. Add. Listing without RI 290,000,000 8-May-18 8-May-18
3. Djohan Sutanto
4. Hasan Aula
5. Jody Rasjidgandha
6. Sim Chee Ping
7. Sintawati Halim
AUDIT COMMITTEE
1. Lim Bing Tjay
2. Irawan Riza
3. Rodolfo C. Balmater
CORPORATE SECRETARY
Hendra Wijaya
HEAD OFFICE
Erajaya Plaza
Jl. Bandengan Selatan No.19-20, Pekojan-Tambora
Jakarta 11240
Phone : (021) 690-5788
Fax : (021) 690-5789
Email : dl-corsec@erajaya.com


TRADING ACTIVITIES
Erajaya Swasembada Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
3,400 160 Jan-15 1,250 1,010 1,205 18,184 274,933 311,620 21
Feb-15 1,215 1,025 1,120 17,014 246,436 273,952 19
2,975 140 Mar-15 1,120 860 875 22,026 318,996 317,046 22
Apr-15 950 740 825 21,091 408,495 355,797 21
May-15 845 740 740 13,985 224,640 179,611 19
2,550 120
Jun-15 755 510 590 34,900 815,181 475,413 21
Jul-15 605 500 525 16,543 299,133 167,076 19
2,125 100
Aug-15 550 369 450 15,232 267,259 121,364 20
Sep-15 575 437 560 10,456 183,660 92,298 21
1,700 80
Oct-15 715 555 640 10,181 190,547 123,696 21
Nov-15 645 550 570 8,405 141,538 87,538 21
1,275 60 Dec-15 580 482 545 7,284 131,136 67,658 19
850 40 Jan-16 580 510 525 5,856 71,096 38,151 20

Feb-16 600 491 497 5,389 77,785 41,899 20
425 20 Mar-16 805 492 690 21,815 382,696 254,110 21
Apr-16 790 650 735 11,066 240,352 170,545 21
May-16 730 600 645 6,098 82,174 53,501 20
Jun-16 675 580 585 11,343 138,805 87,530 22
Jul-16 830 580 800 19,286 344,596 255,906 16
Aug-16 930 790 835 21,016 373,899 324,606 22
Sep-16 860 670 670 14,171 157,855 116,885 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-16 745 600 655 18,591 222,327 147,300 21
Trade, Sevices and Investment Index Nov-16 670 525 610 16,437 199,459 118,679 22
January 2015 - January 2019 Dec-16 690 580 600 9,523 213,104 132,978 20
210%
Jan-17 660 595 610 5,240 48,990 30,809 21
175% Feb-17 655 580 615 13,308 117,181 72,203 19
Mar-17 670 590 605 12,682 208,535 128,868 22
140% Apr-17 765 610 730 22,820 445,563 311,323 17
May-17 730 640 655 13,305 186,495 127,649 20
112.0% Jun-17 695 625 630 7,304 86,057 56,525 15
105%
Jul-17 670 565 640 11,350 159,447 99,880 21
Aug-17 750 600 700 15,367 377,148 267,463 22
70%
Sep-17 855 670 830 16,001 290,805 225,901 19
Oct-17 910 730 790 20,768 263,440 219,620 22
35%
24.6% Nov-17 835 710 730 11,210 143,967 110,994 22
Dec-17 785 690 735 12,509 158,648 119,140 18
-
-9.5%
Jan-18 865 680 840 25,461 350,668 264,973 22
-35% Feb-18 1,020 750 995 24,585 352,368 312,605 19
Mar-18 1,380 970 1,265 45,652 624,757 750,566 21
-70% Apr-18 1,710 1,160 1,710 36,286 373,864 528,970 21
Jun-18 3,070 2,210 2,440 114,313 798,822 2,171,142 13
Jul-18 3,400 2,190 3,120 120,084 779,868 2,231,286 22
Frequency (Thou. X) 195 161 162 973 130 Nov-18 2,340 1,435 2,210 155,744 1,095,951 2,008,031 21
Days 244 246 238 240 22 Dec-18 2,430 2,010 2,200 58,947 401,125 908,125 18
Price (Rupiah) Jan-19 2,590 2,180 2,290 130,305 794,466 1,901,306 22

High 1,250 930 910 3,400 2,590
Low 369 491 565 680 2,180
Close 545 600 735 2,200 2,290
Close* 545 600 735 2,200 2,290
PER (X) 6.99 6.86 7.18 8.27 8.61

PER Industry (X) 14.53 19.07 17.44 5.25 6.49
PBV (X) 0.49 0.52 0.60 1.55 1.61


Cash & Cash Equivalents 169,857 126,820 614,544 366,396 321,101 12,500
Receivables 1,746,257 2,387,217 1,876,233 1,902,548 1,693,525

1,999,824 2,552,505 2,202,800 3,388,147 6,469,455 10,000
Inventories
Current Assets 4,318,605 5,465,564 5,168,223 6,684,618 9,939,913
7,500
Fixed Assets 402,453 436,642 457,248 485,805 519,795
Other Assets 38,624 158 1,811 995 3,053
5,000
Total Assets 6,120,307 7,800,300 7,424,604 8,873,875 12,325,054
Growth (%) 27.45% -4.82% 19.52% 38.89% 2,500

Growth (%) 47.91% -12.61% 28.68% 50.63%
Paid up Capital 1,450,000 1,450,000 1,450,000 1,450,000 1,450,000 4,542

3,409
Par Value 500 500 500 500 500 3,205
3,014
3,615

Total Equity 3,013,786 3,205,406 3,409,161 3,706,655 4,541,575
2,689
Growth (%) 6.36% 6.36% 8.73% 22.52% 1,762
Total Revenues 14,451,413 20,007,598 20,547,128 24,229,915 25,333,321

Growth (%) 38.45% 2.70% 17.92%
-91
2014 2015 2016 2017 Sep-18
Cost of Revenues 13,162,173 18,502,000 18,754,820 22,071,008 22,992,071

Gross Profit 1,289,240 1,505,598 1,792,309 2,158,907 2,341,249
Expenses (Income) 811,870 1,028,052 1,258,759 1,558,857 1,254,468
Operating Profit 477,370 477,546 533,549 600,050 1,086,782 25,333
24,230
Growth (%) 0.04% 11.73% 12.46%
25,333
20,008 20,547
20,165
Other Income (Expenses) -181,288 -157,144 -150,013 -120,393 -213,009

14,451
Income before Tax 296,082 320,401 383,537 479,656 873,772 14,997
Tax 81,695 90,590 121,816 132,507 217,791

Profit for the period 214,387 229,812 261,721 347,150 655,981 9,829
Growth (%) 7.19% 13.88% 32.64%

4,661
Period Attributable 211,522 226,023 263,755 339,458 636,509 -507
Comprehensive Income 211,267 240,860 257,485 345,753 655,422 2014 2015 2016 2017 Sep-18
Current Ratio (%) 148.22 124.24 131.33 132.40 130.06
656
Dividend (Rp) - 20.00 - 38.00 - 656
EPS (Rp) 72.94 77.94 90.95 117.05 219.49

BV (Rp) 1,039.24 1,105.31 1,175.57 1,278.16 1,566.06 522
DAR (X) 0.51 0.59 0.54 0.58 0.63

347
DER(X) 1.03 1.43 1.18 1.39 1.71
388
262
ROA (%) 3.50 2.95 3.53 3.91 5.32 255
214 230
ROE (%) 7.11 7.17 7.68 9.37 14.44

GPM (%) 8.92 7.53 8.72 8.91 9.24 121
OPM (%) 3.30 2.39 2.60 2.48 4.29

NPM (%) 1.48 1.15 1.27 1.43 2.59
-13
2014 2015 2016 2017 Sep-18

Payout Ratio (%) - 25.66 - 32.46 -
Yield (%) - 3.67 - 5.17 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

XL AXIATA TBK.
Company Profile
Initially starting business as a trading and general services, PT XL Axiata Tbk. established on 6 October 1989
under the name of PT Grahametropolitan Lestari. In 1996, The company entered the telecommunications field
after obtaining a GSM 900 operating license and officially launching its GSM services, becoming the first private
company in Indonesia to provide cellular mobile telephony services. In September 2005, XL Axiata launched an
Initial Public Offering (IPO) and listed its shares on the Jakarta Stock Exchange now known as the Indonesia
Stock Exchange (IDX).
Looking forward to 2020, XL Axiata’s direction in the digital and telecommunications industry will not be just as
a digital enabler but as a digital partner, with firm social ties between consumers, the business world and the
industry. The aspiration to become a digital partner means XL Axiata’s orientation is to provide solutions to
improve better conditions for the public and the business world.
As a leading market player in Indonesia, XL Axiata provides services for retail customers and offers business
solutions to corporate customers with wide network and service coverage throughout Indonesia. The services
include Data, Voice, SMS and other value added digital services. XL Axiata operates its network on GSM 900/DCS
1800 and IMT-2000/3G technologies.
In 2018 the company received awards: Digital Transformation Leader of the Year 2018, 2018 Asia Pacific Mobile
Data Service Provider of the Year, 2018 Indonesia Mobile Data Service Provider of the Year, 2018 Indonesia
Mobile Service Provider of the Year, Etc.
The Company’s head office is currently located at XL Axiata Tower, Jl. H.R. Rasuna Said X5 Kav. 11- 12, Kuningan
Timur, Setiabudi, Jakarta Selatan 12950. The number of permanent employees as at September 30th, 2018 are
1,682 employees.
February 2019
Disclaimer:

EXCL XL Axiata Tbk.

Industry Sector : Infrastructure, Utilities & Transportation (7) Listed Shares : 10,687,960,423
Industry Sub Sector : Telecommunication (73) Market Capitalization : 23,192,874,117,910
52 | 23.2T | 0.31% | 74.41%
43 | 11.1T | 0.53% | 71.04%

Established Date : 06-Oct-1989 1. Axiata Investments (Indonesia) Sdn. Bhd. 7,092,656,612 : 66.36%
Listing Date : 29-Sep-2005 (IPO Price: 2,000) 2. Public (<5%) 3,595,303,811 : 33.64%
Underwriter IPO :
CIMB Niaga Securities DIVIDEND ANNOUNCEMENT
GK Goh Indonesia Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2006 7.00 22-May-07 23-May-07 25-May-07 11-Jun-07 I
2007 20.00 28-Apr-08 29-Apr-08 2-May-08 16-May-08 F
1. Muhamad Chatib Basri 2011 129.88 20-Apr-12 23-Apr-12 25-Apr-12 9-May-12 F
2. David Robert Dean 2012 135.00 2-May-13 3-May-13 7-May-13 22-May-13 F
3. Julianto Sidarto *) 2013 64.00 13-May-14 14-May-14 19-May-14 4-Jun-14 F
4. Kenneth Shen
5. Muliadi Rahardja *) ISSUED HISTORY
6. Peter J. Chambers Listing Trading
7. Tan Sri Jamaludin Ibrahim No. Type of Listing Shares Date Date
8. Vivek Sood 1. First Issue 1,427,500,000 29-Sep-05 29-Sep-05
9. Yasmin Stamboel Wirjawan *) 2. Company Listing 5,662,500,000 29-Sep-05 29-Sep-05
*) Independent Commissioners 3. Right Issue 1,418,000,000 16-Dec-09 16-Dec-09
4. Add. Listing without RI 10,566,332 26-Apr-11 26-Apr-11
BOARD OF DIRECTORS 5. Long Term Incentive Program 7,710,279 16-Apr-12 16-Apr-12
1. Dian Siswarini 6. Long Term Incentive Program 8,214,056 12-Apr-13 12-Apr-13
2. Abhijit Navalekar 7. Long Term Incentive Program 6,891,003 21-Apr-15 21-Apr-15
3. Allan Bonke 8. Long Term Incentive Program 8,986,668 4-Apr-16 4-Apr-16
4. Mohamed Adlan Bin Ahmad Tajudin 9. Right Issue I 103,889,680 25-May-16 25-May-16
5. Yessie D. Yosetya 10. Right Issue I 1,453,844,085 26-May-16 26-May-16
11. Right Issue I 20,855,009 27-May-16 27-May-16
AUDIT COMMITTEE 12. Right Issue I 391,891,303 31-May-16 31-May-16
1. Yasmin Stamboel Wirjawan 13. Right Issue I 167,112,008 1-Jun-16 1-Jun-16
2. Haryanto Thamrin
3. Julianto Sidarto
4. Paul Capelle
CORPORATE SECRETARY
Murni Nurdini
HEAD OFFICE
XL Axiata Tower
Jl. H.R. Rasuna Said Blok X-5 Kav. 11-12
Kuningan Timur, Setia Budi, Jakarta Selatan 12950
Phone : (021) 576-1881
Fax : (021) 576-1880
Email : corpsec@xl.co.id
murni@xl.co.id

EXCL XL Axiata Tbk.

TRADING ACTIVITIES
XL Axiata Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
5,200 320 Jan-15 5,000 4,300 4,800 47,136 229,930 1,060,346 21
Feb-15 5,225 4,610 4,795 32,949 121,070 593,061 19
4,550 280 Mar-15 4,800 4,175 4,350 49,816 230,600 1,018,405 22
Apr-15 4,450 3,905 4,035 37,660 195,169 838,312 21
May-15 4,350 3,800 4,290 29,621 100,898 407,344 19
3,900 240
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
3,250 200
Aug-15 3,120 2,340 3,000 40,431 130,973 374,144 20
Sep-15 3,000 2,240 2,615 27,068 96,437 238,542 21
2,600 160
Oct-15 3,475 2,460 3,115 42,057 165,166 522,333 21
Nov-15 3,900 2,975 3,460 35,281 106,369 369,303 21
1,950 120 Dec-15 4,005 3,500 3,650 43,055 153,235 576,473 19
1,300 80 Jan-16 3,860 3,290 3,675 47,353 114,613 409,075 20

Feb-16 4,150 3,590 3,900 61,342 206,204 808,969 20
650 40 Mar-16 4,275 3,840 4,000 44,334 138,315 559,520 21
Apr-16 4,010 3,440 3,520 40,185 78,577 298,065 21
May-16 3,550 3,150 3,530 47,703 342,007 1,139,950 20
Jun-16 3,920 3,400 3,670 49,695 256,584 944,220 22
Jul-16 3,950 3,540 3,710 48,090 253,208 948,865 16
Aug-16 3,800 2,680 2,840 85,722 545,675 1,743,794 22
Sep-16 2,960 2,460 2,700 75,887 422,146 1,137,173 21
Infrastructure, Utilities and Transportation Index Nov-16 2,620 2,030 2,300 66,798 388,759 893,538 22
45%
Jan-17 2,980 2,250 2,910 36,546 206,007 557,924 21
30% Feb-17 3,250 2,780 2,990 39,289 221,355 670,805 19
24.6% Mar-17 3,310 2,810 3,060 43,717 192,125 592,123 22
15% Apr-17 3,270 2,900 3,210 31,037 97,559 298,121 17
May-17 3,240 2,950 2,960 35,951 172,270 524,656 20
- 1.2% Jun-17 3,500 2,970 3,410 41,683 151,385 497,833 15
Jul-17 3,410 3,110 3,360 37,373 148,190 484,910 21
Aug-17 3,800 3,350 3,600 33,181 196,682 693,732 22
-15%
Sep-17 4,060 3,600 3,740 31,095 180,749 692,003 19
Oct-17 3,750 3,230 3,380 41,507 195,950 683,307 22
-30%
Nov-17 3,600 2,890 3,080 52,484 215,957 710,555 22
Dec-17 3,150 2,810 2,960 36,156 169,244 500,111 18
-45%
-54.5% Jan-18 3,380 2,850 2,990 53,360 151,553 472,626 22

-60% Feb-18 3,040 2,810 2,950 50,414 157,842 466,331 19
Mar-18 2,980 2,420 2,520 41,687 204,124 544,564 21
-75% Apr-18 2,840 2,040 2,120 45,031 190,040 467,623 21
Jun-18 2,910 2,160 2,520 83,138 474,977 1,212,677 13
Jul-18 3,070 2,300 2,750 64,837 351,440 942,843 22
Days 244 246 238 240 22 Dec-18 2,100 1,875 1,980 59,932 309,103 612,860 18
Price (Rupiah) Jan-19 2,370 1,955 2,170 70,378 521,497 1,144,591 22

High 5,225 4,275 4,060 3,380 2,370
Low 2,240 2,030 2,250 1,710 1,955
Close 3,650 2,310 2,960 1,980 2,170
Close* 3,600 2,310 2,960 1,980 2,170
PER (X) -1,230.41 115.94 84.31 -109.60 -120.12

PER Industry (X) 9.49 8.16 16.02 9.50 10.05
PBV (X) 2.21 1.18 1.46 0.99 1.08

EXCL XL Axiata Tbk.

Receivables 1,308,014 1,285,195 662,711 631,808 579,705

77,237 78,979 161,078 143,303 177,026 60,000
Inventories
Current Assets 13,309,762 10,151,586 6,806,863 7,180,742 8,630,438
45,000
Fixed Assets 35,859,030 33,426,750 33,182,920 34,933,877 37,709,513
Other Assets 412,648 415,666 353,402 277,396 259,557
30,000
Total Assets 63,706,488 58,844,320 54,896,286 56,321,441 59,903,830
Growth (%) -7.63% -6.71% 2.60% 6.36% 15,000

Growth (%) -10.04% -24.73% 2.98% 10.75%
21,209 21,483
Paid up Capital 853,449 854,138 1,068,796 1,068,796 1,068,796 21,631

Par Value 100 100 100 100 100
17,218
13,961 14,092
Total Equity 13,960,625 14,091,635 21,209,145 21,630,850 21,483,473
12,805
Growth (%) 0.94% 50.51% 1.99% -0.68% 8,393
Total Revenues 23,460,015 22,876,182 21,341,425 22,875,662 16,892,212

Growth (%) -2.49% -6.71% 7.19%
-433
2014 2015 2016 2017 Sep-18
Cost of Revenues - - - - -
Gross Profit 23,460,015 22,876,182 21,341,425 22,875,662 16,892,212
Expenses (Income) 23,031,603 19,736,905 19,654,551 21,217,401 15,919,100
Operating Profit 428,412 3,139,277 1,686,874 1,658,261 973,112 23,460 22,876 22,876
21,341
Growth (%) 632.77% -46.27% -1.70%
23,460
18,674
16,892
Other Income (Expenses) -1,498,198 -3,769,803 -1,501,293 -1,437,023 -1,247,010
Income before Tax -1,069,786 -630,526 185,581 221,238 -273,898 13,888
Tax -178,723 -605,188 -189,935 -154,006 129,088

Profit for the period -891,063 -25,338 375,516 375,244 -144,810 9,102
Growth (%) 97.16% N/A -0.07%

4,317
Period Attributable -891,063 -25,338 375,516 375,244 -144,810 -469
Comprehensive Income -917,315 7,871 396,549 403,443 -132,479 2014 2015 2016 2017 Sep-18
Comprehensive Attributable -917,315 7,871 396,549 403,443 -132,479
Current Ratio (%) 86.44 64.46 47.02 47.16 46.84
376 375
Dividend (Rp) - - - - - 376
EPS (Rp) -104.41 -2.97 35.13 35.11 -13.55

BV (Rp) 1,635.79 1,649.81 1,984.40 2,023.85 2,010.06 122
2014 2015 Sep-18

DAR (X) 0.78 0.76 0.61 0.62 0.64
-25 2016 2017
DER(X) 3.56 3.18 1.59 1.60 1.79
-131
-145
ROA (%) -1.40 -0.04 0.68 0.67 -0.24 -384
ROE (%) -6.38 -0.18 1.77 1.73 -0.67

GPM (%) 100.00 100.00 100.00 100.00 100.00 -638
OPM (%) 1.83 13.72 7.90 7.25 5.76

NPM (%) -3.80 -0.11 1.76 1.64 -0.86
-891
-891
Payout Ratio (%) - - - - -
Yield (%) - - - - -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

GUDANG GARAM TBK.
Company Profile
Gudang Garam cigarette company is one of the leading companies within the cigarette industry in
Indonesia that has been established since 1958 in the town of Kediri, East Java. Until now, Gudang Garam
has widely known both domestically and abroad as a producer of high quality kretek clove cigarettes.
Gudang Garam products can be found in many varieties, ranging from SKL (sigaret kretek klobot or corn
husk-wrapped clove cigarettes), SKT (sigaret kretek linting tangan or hand-rolled clove cigarettes, up to
SKM (sigaret kretek linting mesin or machine-rolled clove cigarettes). For the true clove cigarettes lovers,
we are committed to provide an outstanding experience in enjoying kretek clove cigarettes made from
high-quality materials.
PT Gudang Garam Tbk. is a leading Kretek cigarette manufacturer in Indonesia which produces various
high quality products, varied from Corn Husk Cigarette (SKL), Handmade Kretek Cigarette (SKT) and
Machine-made Kretek Cigarette (SKM) that has been distributed both nationwide and worldwide.
Gudang Garam operates an in house printing facility and five subsidiaries which have commenced
commercial operations:
- Surya Pamenang, producing paperboard for Gudang Garam packaging,
- Surya Madistrindo, sole distributor of the company’s products,
- Surya Air and Galaxy Prime providing non-scheduled air transport services,
- Graha Surya Media, engaged in entertainment services.
The Company’s head office is at Jln. Semampir II/1, Kediri, East Java, and its plants are located in Kediri,
Gempol, Karanganyar and Sumenep. The Company also has representative offices, which are Jakarta
Representative Office at Jln. Jenderal A. Yani 79, Jakarta and Surabaya Representative Office at Jln.
Pengenal 7 – 15, Surabaya, East Java.
As of September 30th, 2018, the Company and subsidiaries had 33,346 employees.
February 2019
Disclaimer:

GGRM Gudang Garam Tbk.

Industry Sector : Consumer Goods Industry (5) Listed Shares : 1,924,088,000
Industry Sub Sector : Tobacco Manufacturers (52) Market Capitalization : 160,949,961,200,000
9 | 160.9T | 2.17% | 45.66%
29 | 19.0T | 0.92% | 60.70%

Established Date : 26-Jun-1958 1. Suryaduta Investama 1,333,146,800 : 69.29%
Listing Date : 27-Aug-1990 (IPO Price: 10,250) 2. Suryamitra Kusuma 120,442,700 : 6.26%
Underwriter IPO : 3. Public (<5%) 470,498,500 : 24.45%
PT Danareksa Sekuritas
PT Finconesia DIVIDEND ANNOUNCEMENT
F/I
1990 150.00 12-Jul-91 15-Jul-91 20-Jul-91 9-Aug-91 F
BOARD OF COMMISSIONERS 1992 150.00 22-Jul-93 23-Jul-93 30-Jul-93 23-Aug-93 F
1. Juni Setiawati Wonowidjojo 1993 155.00 6-Jul-94 7-Jul-94 14-Jul-94 13-Aug-94 F
2. Frank Willem Van Gelder 1994 210.00 5-Jul-95 6-Jul-95 14-Jul-95 14-Aug-95 F
3. Gotama Hengdratsonata 1995 1:1 25-Apr-96 26-Apr-96 6-May-96 3-Jun-96 BS
4. Lucas Mulia Suhardja 1995 75.00 16-Jul-96 17-Jul-96 25-Jul-96 19-Aug-96 F
1997 120.00 3-Jul-98 7-Jul-98 15-Jul-98 13-Aug-98 F
BOARD OF DIRECTORS 1998 260.00 5-Jul-99 6-Jul-99 14-Jul-99 11-Aug-99 F
1. Susilo Wonowidjojo 1999 500.00 6-Jul-00 7-Jul-00 17-Jul-00 31-Jul-00 F
2. Buana Susilo 2000 500.00 27-Nov-00 28-Nov-00 5-Dec-00 19-Dec-00 I
3. Herry Susianto 2001 300.00 2-Jul-02 3-Jul-02 8-Jul-02 19-Jul-02 F
4. Heru Budiman 2002 300.00 27-Jun-03 30-Jun-03 2-Jul-03 11-Jul-03 F
5. Istata Taswin Siddharta 2003 300.00 16-Jul-04 19-Jul-04 21-Jul-04 4-Aug-04 F
6. Lengga Nurullah 2004 500.00 21-Jul-05 22-Jul-05 26-Jul-05 8-Aug-05 F
7. Sony Sasono Rahmadi 2005 500.00 21-Jul-06 24-Jul-06 26-Jul-06 7-Aug-06 F
2006 250.00 23-Jul-07 24-Jul-07 26-Jul-07 9-Aug-07 F
AUDIT COMMITTEE 2007 250.00 15-Jul-08 16-Jul-08 18-Jul-08 1-Aug-08 F
1. Gotama Hengdratsonata 2008 350.00 14-Jul-09 15-Jul-09 17-Jul-09 30-Jul-09 F
2. Chetryana Gunardi 2009 650.00 13-Jul-10 14-Jul-10 16-Jul-10 29-Jul-10 F
3. Tony Gunawan 2010 880.00 25-Jul-11 26-Jul-11 28-Jul-11 8-Aug-11 F
2011 1,000.00 30-Jul-12 31-Jul-12 2-Aug-12 16-Aug-12 F
CORPORATE SECRETARY 2012 800.00 22-Jul-13 23-Jul-13 25-Jul-13 15-Aug-13 F
Heru Budiman 2013 800.00 6-Aug-14 7-Aug-14 11-Aug-14 25-Aug-14 F
2014 800.00 3-Jul-15 6-Jul-15 8-Jul-15 30-Jul-15 F
HEAD OFFICE 2015 2,600.00 28-Jun-16 29-Jun-16 1-Jul-16 22-Jul-16 F
Jl. Jend. A. Yani No. 75-79 2016 2,600.00 3-Jul-17 4-Jul-17 6-Jul-17 19-Jul-17 F
Jakarta 10510 2017 2,600.00 3-Jul-18 4-Jul-18 6-Jul-18 26-Jul-18 F
Phone : (021) 2955-7000 ISSUED HISTORY

Fax : (021) 2955-7009 Listing Trading
Homepage : www.astragraphia.co.id No. Type of Listing Shares Date Date
Email : corporate_secretary@gudanggaramtbk.com 1. First Issue 57,807,800 27-Aug-90 27-Aug-90
2. Partial Listing 38,396,600 27-Aug-90 27-Feb-91
3. Founder Shares 375,197,600 31-May-94 31-May-94
4. Koperasi 9,620,000 31-May-94 0-Jan-00
5. Stock Split 481,022,000 3-Jun-96 3-Jun-96
6. Bonus Shares 962,044,000 4-Jun-96 5-Jun-96


TRADING ACTIVITIES
Gudang Garam Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
100,000 16.0 Jan-15 64,000 51,900 57,800 51,790 31,660 1,822,015 21
Feb-15 58,500 53,400 53,425 34,568 20,001 1,112,549 19
87,500 14.0 Mar-15 55,325 47,525 51,000 46,689 28,926 1,510,900 22
Apr-15 54,650 49,025 50,000 49,629 33,822 1,754,518 21
May-15 50,600 44,750 47,100 58,307 34,542 1,620,711 19
75,000 12.0
Jun-15 47,500 42,000 45,100 37,643 15,845 710,356 21
Jul-15 54,150 44,775 49,500 37,887 20,455 1,000,185 19
62,500 10.0
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
50,000 8.0
Oct-15 47,800 41,950 42,950 59,672 36,514 1,616,201 21
Nov-15 52,650 42,925 48,900 62,483 33,338 1,609,672 21
37,500 6.0 Dec-15 55,000 48,275 55,000 42,043 26,125 1,352,426 19
25,000 4.0 Jan-16 59,000 52,550 58,350 48,532 30,319 1,683,368 20

Feb-16 67,225 56,300 63,700 51,055 36,430 2,260,534 20
12,500 2.0 Mar-16 67,375 58,750 65,300 70,197 39,728 2,495,093 21
Apr-16 72,300 64,200 69,250 57,516 30,735 2,066,825 21
May-16 74,400 67,300 69,200 49,033 24,657 1,738,467 20
Jun-16 70,600 62,150 69,000 72,203 46,355 3,057,574 22
Jul-16 77,950 67,525 67,525 84,491 40,981 2,936,952 16
Aug-16 69,650 63,500 64,400 86,929 47,960 3,218,504 22
Sep-16 65,275 59,225 62,000 52,759 30,092 1,902,824 21
Consumer Goods Industry Index Nov-16 68,400 60,725 65,000 65,177 29,638 1,901,121 22
40%
35.4% Jan-17 65,600 61,750 61,750 30,623 12,128 769,625 21
30% Feb-17 66,000 60,050 65,850 39,070 21,477 1,339,524 19
24.6% Mar-17 66,900 62,150 65,525 39,752 18,844 1,217,926 22
20% 20.7% Apr-17 68,575 63,500 66,400 36,236 15,542 1,022,339 17
May-17 78,475 66,325 73,950 57,052 23,491 1,688,339 20
10% Jun-17 80,325 73,200 78,300 36,237 13,843 1,075,711 15
Jul-17 81,300 75,000 76,100 49,236 17,460 1,348,653 21
Aug-17 76,700 65,500 69,200 78,252 39,566 2,763,675 22
-
Sep-17 69,550 65,500 65,800 50,306 25,176 1,683,983 19
Oct-17 71,025 61,925 70,000 75,945 38,516 2,523,652 22
-10%
Nov-17 83,100 69,000 76,525 66,757 33,626 2,597,224 22
Dec-17 83,800 77,500 83,800 35,450 13,805 1,104,763 18
-20%
Jan-18 86,400 80,000 81,050 47,800 16,441 1,367,066 22

-30% Feb-18 83,600 78,700 79,750 35,633 16,596 1,341,811 19
Mar-18 80,400 69,675 72,475 50,676 23,410 1,743,515 21
-40% Apr-18 78,900 67,800 69,325 45,299 16,526 1,221,465 21
Jun-18 72,900 66,125 67,250 44,813 18,925 1,309,459 13
Jul-18 75,975 66,850 75,150 37,452 15,803 1,120,874 22
Volume (Million Sh.) 312 408 273 245 23 Sep-18 75,725 69,950 74,050 48,523 18,684 1,368,052 19
Days 244 246 238 240 22 Dec-18 84,525 78,000 83,625 59,663 19,657 1,614,473 18
Price (Rupiah) Jan-19 86,650 80,525 83,650 64,577 23,178 1,927,819 22

High 64,000 77,950 83,800 86,400 86,650
Low 39,500 52,550 60,050 66,125 80,525
Close 55,000 63,900 83,800 83,625 83,650
Close* 55,000 63,900 83,800 83,625 83,650
PER (X) 16.44 20.04 22.32 20.95 20.95

PER Industry (X) 17.71 23.77 18.48 24.94 36.52
PBV (X) 2.78 3.27 4.04 3.75 3.75


Public Accountant : Siddharta Widjaja & Partners
Receivables 1,532,275 1,568,098 2,089,949 2,229,097 2,525,692

34,739,327 37,255,928 37,545,222 37,920,289 36,964,732 60,000
Inventories
Current Assets 38,532,600 42,568,431 41,933,173 43,764,490 43,403,961
45,000
Fixed Assets 18,973,272 20,106,488 20,498,950 21,408,575 20,819,977
Other Assets 604,404 639,170 381,081 629,881 1,493,452
30,000
Total Assets 58,220,600 63,505,413 62,951,634 66,759,930 66,751,360
Growth (%) 9.08% -0.87% 6.05% -0.01% 15,000

Growth (%) 2.02% -8.28% 5.07% -3.05%
42,188
Paid up Capital 962,044 962,044 962,044 962,044 962,044 42,928
38,008
39,564
Par Value 500 500 500 500 500
34,170

Total Equity 33,228,720 38,007,909 39,564,228 42,187,664 42,927,699
25,413
Growth (%) 14.38% 4.09% 6.63% 1.75% 16,656
Total Revenues 65,185,850 70,365,573 76,274,147 83,305,925 69,889,350

Growth (%) 7.95% 8.40% 9.22%
-859
2014 2015 2016 2017 Sep-18
Cost of Revenues 51,806,284 54,879,962 59,657,431 65,084,263 56,179,100

Gross Profit 13,379,566 15,485,611 16,616,716 18,221,662 13,710,250
Expenses (Income) 4,801,910 5,420,744 6,494,678 6,984,409 5,473,307
76,274
Growth (%) 17.34% 0.57% 11.02%
83,306
70,366 69,889
65,186
66,312
Other Income (Expenses) -1,371,811 -1,429,592 -1,190,902 -800,741 -476,153

Tax 1,810,552 2,182,441 2,258,454 2,681,165 1,998,367

Growth (%) 19.60% 3.41% 16.23%

15,328
Current Ratio (%) 162.02 177.04 193.79 193.55 199.52
7,755
Dividend (Rp) 800.00 2,600.00 2,600.00 2,600.00 -
6,673
7,755
EPS (Rp) 2,790.19 3,344.78 3,470.26 4,030.66 2,994.24 6,453

5,762
BV (Rp) 17,269.85 19,753.73 20,562.59 21,926.06 22,310.67 6,173
5,395
DAR (X) 0.43 0.40 0.37 0.37 0.36
DER(X) 0.75 0.67 0.59 0.58 0.55
4,591
ROA (%) 9.27 10.16 10.60 11.62 8.63 3,009
ROE (%) 16.24 16.98 16.87 18.38 13.42

GPM (%) 20.53 22.01 21.79 21.87 19.62 1,427
OPM (%) 13.16 14.30 13.27 13.49 11.79

NPM (%) 8.28 9.17 8.75 9.31 8.25
-155
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 28.67 77.73 74.92 64.51 -
Yield (%) 1.32 4.73 4.07 3.10 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

H.M. SAMPOERNA TBK.
Company Profile
PT Hanjaya Mandala Sampoerna Tbk. was established on October 19th, 1963. The scope of activities of
the Company comprises manufacturing and trading of cigarettes and investing in other companies. The
Company started its commercial operations in 1913 in Surabaya, as a home industry. In 1930, this home
industry was officially organized under the name of NVBM Handel Maatschapij Sampoerna. The Company
made a public offering in 1990.
PT Hanjaya Mandala Sampoerna Tbk. (HM Sampoerna) is Indonesia's largest tobacco company controlling
about 33% of the Indonesian tobacco market. It is the maker of some of the most well-known kretek
(clove) cigarette brands such as Sampoerna Hijau, Sampoerna A Mild, and the legendary “King of Kretek”
Dji Sam Soe. In fact, on May 18th, 2005, when the company was acquired by Philip Morris International,
it became part of one of the world’s largest tobacco companies. Today the Company distributes Marlboro,
the world’s best-selling cigarette brand, in Indonesia. The company’s Brands: Dji Sam Soe, Sampoerna
Kretek, Sampoerna A, Sampoerna U and Marlboro.
The Company is a subsidiary of PT Philip Morris Indonesia and an affiliate of Philip Morris International
Inc., the world’s leading international tobacco company.
The Company is currently one of the largest listed companies in the Indonesia Stock Exchange. In 2018 the
company received awards: Best Workplace Practices Award, Best Community Programme Award,
Empowerment of Women Award, Tempo Country Contributor Award 2018, Most Tax-Friendly Corporate,
etc.
The Company is domiciled in Surabaya and its plants are located in Surabaya, Pasuruan, Malang,
Karawang, and Probolinggo. The Company also has a corporate office at One Pacific Place, 18th Floor
SCBD, Jl. Jend. Sudirman Kav. 52-53, Jakarta 12190. As of September 30th, 2018, the Company and
subsidiaries (together the “Group”) had 26,758 permanent employees.
February 2019
Disclaimer:

HMSP H.M. Sampoerna Tbk.

Industry Sub Sector : Tobacco Manufacturers (52) Market Capitalization : 445,498,234,527,000
3 | 445.5T | 6.01% | 21.62%
21 | 25.9T | 1.25% | 52.47%

Established Date : 1913 1. PT Philip Morris Indonesia 107,594,221,125 : 92.50%
Listing Date : 15-Aug-1990 (IPO Price: 12,600) 2. Public (<5%) 8,723,855,775 : 7.50%
Underwriter IPO :
PT Inter-Pacific Securities DIVIDEND ANNOUNCEMENT
PT Jardine Fleming Nusantara Bonus Cash Recording Payment
F/I
PT Multicor Year Shares Dividend Cum Date Ex Date Date Date
PT PDFCI Securities 2001 25.00 8-Aug-02 9-Aug-02 14-Aug-02 27-Aug-02 F
PT Inter-Pacific 2002 50.00 7-Apr-03 8-Apr-03 10-Apr-03 17-Apr-03 I
PT PDFCI Securities 2002 140.00 21-Jul-03 22-Jul-03 24-Jul-03 7-Aug-03 F
PT Usaha Pembiayaan Pembangunan Indonesia 2003 120.00 18-May-04 19-May-04 24-May-04 31-May-04 F
Securities Administration Bureau : 2003 120.00 18-May-04 19-May-04 24-May-04 31-May-04 I
PT Sirca Datapro Perdana 2003 120.00 26-Jul-04 27-Jul-04 29-Jul-04 9-Aug-04 F
2003 80.00 26-Jul-04 27-Jul-04 29-Jul-04 9-Aug-04 F
BOARD OF COMMISSIONERS 2003 175.00 23-Nov-04 24-Nov-04 26-Nov-04 9-Dec-04 F
1. John Gledhill 2004 175.00 23-Nov-04 24-Nov-04 26-Nov-04 9-Dec-04 I
2. Goh Kok Ho *) 2004 275.00 21-Jul-05 22-Jul-05 26-Jul-05 9-Aug-05 F
3. Niken Kristiawan Rachmad 2005 340.00 13-Oct-05 14-Oct-05 18-Oct-05 27-Oct-05 I
4. RB Permana Agung Dradjattun *) 2005 200.00 30-Jun-06 3-Jul-06 5-Jul-06 19-Jul-06 F
5. Wayan Mertasana Tantra 2005 250.00 15-Sep-06 18-Sep-06 20-Sep-06 4-Oct-06 F
6. Yos Adiguna Ginting 2006 100.00 23-Nov-06 24-Nov-06 28-Nov-06 12-Dec-06 I
2007 150.00 31-Aug-07 3-Sep-07 5-Sep-07 21-Sep-07 I
BOARD OF DIRECTORS 2006 510.00 26-Feb-08 27-Feb-08 29-Feb-08 17-Mar-08 F
1. Mindaugas Trumpaitis 2007 280.00 10-Oct-08 13-Oct-08 15-Oct-08 29-Oct-08 I
2. Elvira Lianita 2007 110.00 6-Mar-09 10-Mar-09 12-Mar-09 25-Mar-09 F
3. Ingo Rose 2008 110.00 2-Dec-09 3-Dec-09 7-Dec-09 22-Dec-09 F
4. Ivan Cahyadi 2009 150.00 8-Feb-10 9-Feb-10 11-Feb-10 25-Feb-10 F
5. J. B. Wardhana 2009 615.00 7-Sep-10 15-Sep-10 17-Sep-10 29-Sep-10 F
6. Michael Scharer 2010 1,110.00 10-Jun-11 13-Jun-11 15-Jun-11 24-Jun-11 F
7. Troy J. Modlin 2010 270.00 12-Sep-11 13-Sep-11 15-Sep-11 29-Sep-11 F
8. William Reilly Giff 2010 260.00 6-Dec-11 7-Dec-11 9-Dec-11 23-Dec-11 F
2011 200.00 6-Dec-11 7-Dec-11 9-Dec-11 23-Dec-11 I
AUDIT COMMITTEE 2011 1,050.00 22-May-12 23-May-12 25-May-12 5-Jun-12 F
1. Goh Kok Ho 2011 500.00 6-Dec-12 7-Dec-12 11-Dec-12 27-Dec-12 F
2. Hanafi Usman 2012 1,300.00 10-Jun-13 11-Jun-13 13-Jun-13 27-Jun-13 F
3. RB Permana Agung Dradjattun 2013 969.00 2-Dec-13 3-Dec-13 6-Dec-13 18-Dec-13 I
2013 927.00 3-Jun-14 4-Jun-14 6-Jun-14 20-Jun-14 F
CORPORATE SECRETARY 2013 360.00 11-Sep-14 12-Sep-14 16-Sep-14 30-Sep-14 F
Andy Revianto 2013 1,143.00 4-Dec-14 5-Dec-14 9-Dec-14 23-Dec-14 F
2014 975.00 5-May-15 6-May-15 8-May-15 28-May-15 F
HEAD OFFICE 2014 1,033.00 18-Aug-15 19-Aug-15 21-Aug-15 9-Sep-15 F
One Pacific Place, 18th Floor, SCBD 2015 2,225.00 4-May-16 9-May-16 11-May-16 27-May-16 F
Jl. Jend. Sudirman Kav. 52-53 2016 107.70 5-May-17 8-May-17 10-May-17 26-May-17 F
Jakarta 12190 2017 107.30 7-May-18 8-May-18 11-May-18 25-May-18 F
Phone : (021) 515-1234
Fax : (021) 515-2234 ISSUED HISTORY
Homepage : www.astragraphia.co.id Listing Trading
Email : contact@sampoerna.com No. Type of Listing Shares Date Date
investor.relations@sampoerna.com 1. First Issue 27,000,000 15-Aug-90 15-Aug-90
2. Partial Listing 18,000,000 T: 15-Aug-90 : 15-Feb-91
3. Company Listing 135,000,000 15-Jun-92 15-Jun-92
4. Bonus Shares 270,000,000 28-Sep-94 28-Sep-94
5. Stock Split 115,827,353,824 T: 18-Nov-96 : 14-Jun-16
6. Additional Listing 28,000,000 18-Jun-99 18-Jun-99
7. Buy Back -257,000,000 T: 17-Oct-01 : 27-Sep-04
8. Right Issue 269,723,076 T: 27-Oct-15 : 5-Nov-15


TRADING ACTIVITIES
H.M. Sampoerna Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
5,600 320 Jan-15 68,650 66,250 67,200 294 99 6,683 21
Feb-15 66,900 64,900 65,200 269 1,889 121,465 19
4,900 280 Mar-15 73,850 64,900 73,475 562 440 29,284 21
Apr-15 75,375 71,750 73,500 273 99 7,369 19
May-15 73,750 71,000 72,500 156 203 7,970 17
4,200 240
Jun-15 72,500 70,500 72,000 149 64 4,562 16
Jul-15 90,050 70,500 83,450 1,318 584 47,679 19
3,500 200
Aug-15 84,850 71,000 76,000 633 291 22,329 20
Sep-15 77,250 74,250 75,975 588 288 21,750 21
2,800 160
Oct-15 99,000 76,000 91,975 37,998 287,642 22,430,794 21
Nov-15 101,900 91,900 101,900 51,731 54,195 5,310,744 21
2,100 120 Dec-15 102,000 91,025 94,000 21,935 11,202 1,078,449 19
1,400 80 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
700 40 Mar-16 111,875 95,050 98,400 54,403 26,004 2,648,824 21
Apr-16 102,850 92,500 99,875 50,409 24,529 2,391,750 21
May-16 99,975 95,000 95,000 35,839 14,736 1,429,239 20
Jun-16 100,100 3,560 3,800 68,602 344,650 2,049,175 22
Jul-16 4,070 3,630 3,630 65,162 498,828 1,917,070 16
Aug-16 4,100 3,770 3,980 76,242 451,888 1,790,344 22
Sep-16 4,250 3,760 3,950 53,596 529,459 2,103,398 21
120%
Jan-17 4,020 3,750 3,850 63,603 265,560 1,042,308 21
100% Feb-17 4,000 3,800 3,870 48,665 263,177 1,023,576 19
Mar-17 4,150 3,830 3,900 76,777 829,211 3,320,768 22
80% Apr-17 4,030 3,820 3,820 39,258 268,009 1,047,348 17
May-17 4,000 3,760 3,930 81,391 607,522 2,346,984 20
60% Jun-17 3,900 3,770 3,840 46,422 303,374 1,167,097 15
Jul-17 3,870 3,550 3,550 54,271 318,070 1,194,273 21
41.8% Aug-17 3,770 3,350 3,640 76,016 494,045 1,743,689 22
40%
Sep-17 3,950 3,550 3,860 46,154 305,382 1,165,007 19
24.6% Oct-17 4,060 3,760 3,980 47,188 483,631 1,888,289 22
20% 20.7% Nov-17 4,390 3,870 4,100 57,050 478,796 1,980,465 22
Dec-17 4,780 4,200 4,730 55,250 426,241 1,903,758 18
-
Jan-18 5,550 4,530 4,900 80,107 502,618 2,512,091 22

-20% Feb-18 4,970 4,550 4,820 69,261 549,982 2,658,291 19
Mar-18 4,850 3,940 3,980 84,126 755,076 3,272,923 21
-40% Apr-18 4,220 3,500 3,540 67,241 553,852 2,200,752 21
Jun-18 3,830 3,350 3,580 58,295 336,721 1,210,968 13
Jul-18 3,970 3,560 3,840 63,174 403,828 1,522,203 22
Volume (Million Sh.) 357 2,985 5,043 6,517 680 Sep-18 3,910 3,620 3,850 49,570 266,703 1,012,984 19
Frequency (Thou. X) 116 676 692 943 101 Nov-18 3,940 3,240 3,680 186,761 1,296,595 4,602,481 21
Days 234 246 238 240 22 Dec-18 3,920 3,590 3,710 61,969 363,440 1,367,711 18
Price (Rupiah) Jan-19 4,080 3,660 3,830 100,969 679,941 2,589,041 22

High 102,000 112,125 4,780 5,550 4,080
Low 64,900 3,560 3,350 3,230 3,660
Close 94,000 3,830 4,730 3,710 3,830
Close* 3,760 3,830 4,730 3,710 3,830
PER (X) 42.20 36.79 43.42 33.40 34.48

PER Industry (X) 17.71 23.77 18.48 24.94 36.52
PBV (X) 13.66 14.51 16.13 13.74 14.18


Receivables 1,097,937 4,726,827 4,996,420 3,780,990 2,799,072

17,431,586 19,071,523 19,442,023 18,023,238 13,092,503 40,000
Inventories
Current Assets 20,777,514 29,807,330 33,647,496 34,180,353 40,621,474
30,000
Fixed Assets 5,919,600 6,281,176 6,895,483 6,890,750 6,940,249
Other Assets 804,448 844,896 870,447 1,017,533 541,458
20,000
Total Assets 28,380,630 38,010,724 42,508,277 43,141,063 49,114,276
Growth (%) 33.93% 11.83% 1.49% 13.85% 10,000

Growth (%) -59.72% 39.01% 8.34% 96.12%
Authorized Capital 630,000 630,000 630,000 630,000 630,000 34,175 34,113
Paid up Capital 438,300 465,272 465,272 465,272 465,272 34,175
32,016 31,408
Par Value 100 100 4 4 4
27,203

Total Equity 13,498,114 32,016,060 34,175,014 34,112,985 31,407,982
20,232
13,498
Growth (%) 137.19% 6.74% -0.18% -7.93% 13,260
Total Revenues 80,690,139 89,069,306 95,466,657 99,091,484 77,534,836

Growth (%) 10.38% 7.18% 3.80%
-684
2014 2015 2016 2017 Sep-18
Cost of Revenues 60,190,077 67,304,917 71,611,981 74,875,642 59,226,764

Gross Profit 20,500,062 21,764,389 23,854,676 24,215,842 18,308,072
Expenses (Income) 6,781,763 7,831,745 6,843,229 7,321,036 5,475,965
95,467
89,069
Growth (%)
99,091
80,690 77,535
78,877

Tax 3,537,216 3,569,336 4,249,218 4,224,272 3,141,810

Growth (%) 1.79% 23.15% -0.72%

18,233
Current Ratio (%) 152.77 656.74 523.41 527.23 266.60
12,762 12,671
Dividend (Rp) 2,008.00 2,225.00 107.70 107.30 -
EPS (Rp) 2,322.86 2,227.36 109.72 108.93 83.31 10,181 10,363
9,690
BV (Rp) 3,079.65 6,881.14 293.81 293.27 270.02 10,159
DAR (X) 0.52 0.16 0.20 0.21 0.36

DER(X) 1.10 0.19 0.24 0.26 0.56
7,555
ROA (%) 35.87 27.26 30.02 29.37 19.73 4,952
ROE (%) 75.43 32.37 37.34 37.14 30.85

GPM (%) 25.41 24.44 24.99 24.44 23.61 2,348
OPM (%) - - - - -
NPM (%) 12.62 11.64 13.37 12.79 12.50
-255
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 86.45 99.89 98.16 98.50 -
Yield (%) 2.92 2.37 2.81 2.27 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

INDOFOOD CBP SUKSES MAKMUR TBK.
Company Profile
PT Indofood CBP Sukses Makmur Tbk. was established on September 2nd, 2009. The Company was
the result of the spin-off of the Noodle Division and Food Ingredients Division of PT Indofood Sukses
Makmur Tbk., the controlling shareholder of the Company, and started to carry out the related
business operations on October 1st, 2009. The Company listed on the Indonesia Stock Exchange
(“IDX”) in 2010.
The Company is engaged in diverse business categories, including noodles, dairy, snack foods, food
seasonings, nutrition and special foods and beverages. In addition, ICBP also operates a packaging
business, producing both flexible and corrugated packaging to support our main businesses.
PT Indofood Sukses Makmur, Indonesia, and First Pacific Company Limited, Hong Kong, are the
parent entity and the ultimate parent entity, respectively, of the Company.
The Company has direct share ownerships in Drayton Pte. Ltd., Indofood (M) Food Industries Sdn.
Bhd., PT Surya Rengo Containers, PT Indofood Fritolay Makmur, PT Indofood Asahi Sukses Beverage,
PT Indofood Tsukishima Sukses Makmur, PT Indofood Mitra Bahari Makmur, PT Indofood Comsa
Sukses Makmur, and PT Indo Oji Sukses Pratama.
The Company’s head office is located at Sudirman Plaza, Indofood Tower, 23rd Floor, Jalan Jenderal
Sudirman, Kav. 76 – 78, Jakarta, Indonesia, while the Company and its Subsidiaries’ factories are
located in various locations in Java, Bali, Sumatera, Kalimantan, Sulawesi Islands and Malaysia.
As of September 30th, 2018, the Group had 30,718 employees.
February 2019
Disclaimer:

ICBP Indofood CBP Sukses Makmur Tbk.

Industry Sub Sector : Food And Beverages (51) Market Capitalization : 125,657,058,700,000
10 | 125.7T | 1.69% | 47.35%
46 | 10.6T | 0.51% | 72.60%

Established Date : 02-Sep-2009 1. PT Indofood Sukses Makmur 9,329,526,000 : 80.00%
Listing Date : 07-Oct-2010 (IPO Price: 5,395) 2. Public (<5%) 2,332,382,000 : 20.00%
Underwriter IPO :
PT Kim Eng Securities DIVIDEND ANNOUNCEMENT
PT Credit Suisse Securities Indonesia Bonus Cash Recording Payment
F/I
PT Deutsche Securities Indonesia Year Shares Dividend Cum Date Ex Date Date Date
PT Mandiri Sekuritas. 2010 116.00 21-Jun-11 22-Jun-11 24-Jun-11 7-Jul-11 F
Securities Administration Bureau : 2011 169.00 13-Jul-12 16-Jul-12 18-Jul-12 31-Jul-12 F
PT Raya Saham Registra 2013 190.00 10-Jul-14 11-Jul-14 15-Jul-14 5-Aug-14 F
2014 222.00 18-May-15 19-May-15 21-May-15 9-Jun-15 F
1. Franciscus Welirang 2016 154.00 9-Jun-17 12-Jun-17 14-Jun-17 4-Jul-17 F
2. A. Prijohandojo Kristanto *) 2017 162.00 8-Jun-18 20-Jun-18 22-Jun-18 3-Jul-18 F
3. Alamsyah 2018 58.00 5-Nov-18 6-Nov-18 8-Nov-18 28-Nov-18 I
4. Florentinus Gregorius Winarno *)
5. Hans Kartikahadi *) ISSUED HISTORY
6. Moleonoto Listing Trading
*) Independent Commissioners No. Type of Listing Shares Date Date
1. First Issue 1,166,191,000 7-Oct-10 7-Oct-10
BOARD OF DIRECTORS 2. Company Listing 4,664,763,000 7-Oct-10 7-Apr-11
1. Anthoni Salim 3. Stock Split 5,830,954,000 27-Jul-16 27-Jul-16
2. Axton Salim
3. Hendra Widjaja
4. Joedianto Soejonopoetro
5. Suaimi Suriady
6. T. Eddy Hariyanto
7. Taufik Wiraatmadja
8. Tjhie Tje Fie (Thomas Tjhie)
AUDIT COMMITTEE
1. Hans Kartikahadi
2. A. Prijohandojo Kristanto
3. Hendra Susanto
CORPORATE SECRETARY
Gideon A. Putro
HEAD OFFICE
Sudirman Plaza, Indofood Tower 23rd Floor
Jl. Jend. Sudirman Kav. 76-78
Jakarta 12910
Phone : (021) 5793-7500
Fax : (021) 5793-7557
Email : corporate.secretary@icbp.indofood.co.id
gideon.putro@icbp.indofood.co.id


TRADING ACTIVITIES
Indofood CBP Sukses Makmur Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
12,000 40.0 Jan-15 16,050 12,450 14,500 33,591 90,954 1,243,010 21
Feb-15 14,650 13,900 14,300 28,064 53,007 751,753 19
10,500 35.0 Mar-15 15,500 14,025 14,675 38,018 88,680 1,289,971 22
Apr-15 14,700 12,300 13,200 31,277 95,059 1,306,487 21
May-15 14,225 13,300 14,100 34,554 63,037 855,040 19
9,000 30.0
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
7,500 25.0
Aug-15 13,000 11,550 12,750 32,387 69,230 863,442 20
Sep-15 13,175 10,900 12,400 28,987 42,367 523,143 21
6,000 20.0
Oct-15 13,800 12,050 13,200 37,513 65,176 848,257 21
Nov-15 13,500 11,925 12,625 32,730 48,234 616,032 21
4,500 15.0 Dec-15 13,600 11,325 13,475 26,651 37,590 470,086 19
3,000 10.0 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
1,500 5.0 Mar-16 16,150 14,975 15,200 42,757 75,626 1,171,017 21
Apr-16 15,600 14,125 15,275 37,415 56,794 850,608 21
May-16 16,500 15,125 16,200 33,163 55,538 873,493 20
Jun-16 17,700 15,800 17,225 33,168 50,653 849,521 22
Jul-16 18,025 8,600 8,600 40,394 56,169 841,159 16
Aug-16 10,000 8,575 9,975 55,993 137,918 1,260,347 22
Sep-16 10,275 8,975 9,475 69,142 176,081 1,670,088 21
90%
Jan-17 8,825 8,350 8,400 34,645 93,349 800,266 21
75% Feb-17 8,575 8,250 8,325 31,128 112,405 945,296 19
Mar-17 8,950 8,075 8,150 44,076 123,072 1,040,304 22
63.9%
60% Apr-17 8,950 7,975 8,775 27,002 135,455 1,133,363 17
May-17 9,225 8,425 8,700 40,655 114,581 998,113 20
45% Jun-17 8,875 8,275 8,800 25,087 93,137 801,977 15
Jul-17 8,825 8,275 8,350 34,204 125,801 1,075,742 21
Aug-17 8,875 8,175 8,725 32,518 95,805 812,822 22
30%
24.6% Sep-17 8,950 8,550 8,725 22,505 79,872 700,606 19
20.7% Oct-17 9,000 8,625 8,800 25,985 113,186 995,252 22
15%
Nov-17 9,000 8,450 8,450 27,382 126,518 1,101,028 22
Dec-17 9,150 8,600 8,900 28,099 85,041 753,177 18
-
Jan-18 9,275 8,575 8,725 43,250 266,660 2,346,622 22

-15% Feb-18 9,100 8,675 8,975 28,974 85,391 758,367 19
Mar-18 9,150 8,200 8,275 29,575 77,593 676,664 21
-30% Apr-18 8,800 7,900 8,675 25,995 77,452 644,319 21
Jun-18 9,000 8,150 8,850 33,097 66,837 578,738 13
Jul-18 9,075 8,450 8,725 30,551 45,518 397,556 22
Days 244 246 238 240 22 Dec-18 10,825 9,450 10,450 35,857 146,635 1,473,137 18
Price (Rupiah) Jan-19 10,950 9,925 10,775 61,326 171,656 1,784,384 22

High 16,050 18,025 9,225 10,825 10,950
Low 10,900 7,550 7,975 7,900 9,925
Close 13,475 8,575 8,900 10,450 10,775
Close* 6,738 8,575 8,900 10,450 10,775
PER (X) 26.18 26.48 27.34 26.23 27.04

PER Industry (X) 17.71 23.77 18.48 24.94 36.52
PBV (X) 4.79 5.61 5.11 5.56 5.73


Receivables 2,902,202 3,363,697 3,893,925 4,126,439 5,039,150

2,821,618 2,546,835 3,109,916 3,261,635 3,324,242 28,000
Inventories
Current Assets 13,603,527 13,961,500 15,571,362 16,579,331 14,943,180
21,000
Fixed Assets 5,838,843 6,555,660 7,114,288 8,120,254 10,221,162
Other Assets 213,907 222,280 111,864 257,382 1,653,763
14,000
Total Assets 24,910,211 26,560,624 28,901,948 31,619,514 33,820,264
Growth (%) 6.63% 8.82% 9.40% 6.96% 7,000

Growth (%) 3.07% 2.24% 8.60% 5.33%
Paid up Capital 583,095 583,095 583,095 583,095 583,095 20,324
18,501
16,387
Par Value 100 100 100 50 50 15,040
17,451

Total Equity 15,039,947 16,386,911 18,500,823 20,324,330 21,923,346
12,979
Growth (%) 8.96% 12.90% 9.86% 7.87% 8,506
Total Revenues 30,022,463 31,741,094 34,466,069 35,606,593 29,478,275

Growth (%) 5.72% 8.59% 3.31%
-438
2014 2015 2016 2017 Sep-18
Cost of Revenues 21,962,609 22,121,957 23,606,755 24,547,757 19,886,903

Gross Profit 8,059,854 9,619,137 10,859,314 11,058,836 9,591,372
Expenses (Income) 4,931,161 5,627,005 5,995,146 5,837,090 4,616,974
34,466
27.60% 21.84% 7.35% 31,741
Growth (%)
35,607
30,022 29,478
28,343
Other Income (Expenses) 260,032 17,502 125,086 -15,185 -26,760

Tax 857,044 1,086,486 1,357,953 1,663,388 1,393,341

Growth (%) 15.46% 24.23% -2.43%

6,552
Current Ratio (%) 218.32 232.60 240.68 242.83 202.01
3,631 3,543 3,554
Dividend (Rp) 222.00 256.00 154.00 162.00 58.00 3,631
EPS (Rp) 446.62 514.62 617.45 325.55 298.83 2,923

BV (Rp) 2,579.33 2,810.33 3,172.86 1,742.80 1,879.91 2,891
2,532
DAR (X) 0.40 0.38 0.36 0.36 0.35
DER(X) 0.66 0.62 0.56 0.56 0.54
2,150
ROA (%) 10.16 11.01 12.56 11.21 10.51 1,409
ROE (%) 16.83 17.84 19.63 17.43 16.21

GPM (%) 26.85 30.30 31.51 31.06 32.54 668
OPM (%) 10.42 12.58 14.11 14.67 16.87

NPM (%) 8.43 9.21 10.54 9.95 12.06
-73
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 49.71 49.75 24.94 49.76 19.41
Yield (%) 1.69 1.90 1.80 1.82 0.66
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

VALE INDONESIA TBK.
Company Profile
PT Vale Indonesia Tbk. (formerly International Nickel Indonesia Tbk.) was established on July 25th,
1968. The company is Indonesia's largest nickel producer. The company is a subsidiary of Vale,
the world's second biggest mining company, headquartered in Brazil. Vale Indonesia is a foreign
investment company that explores, mines, processes and produces nickel in matte, an
intermediate product, from lateritic ores at its mining and processing facilities near Sorowako on
the island of Sulawesi. Vale's production is shipped - under long term contracts in US dollars - to
Japan for refining.
PT Vale Indonesia Tbk. is one of the world’s premier producers of nickel. A versatile metal, which
is important in improving living standards and fostering economic growth. For more than three
decades, since the signing of its Contract of Work with the Indonesian Government in 1968, the
Company has provided skilled jobs, shown concern for the needs of the communities in which it
operates, benefited shareholders and contributed positively to the Indonesian economy.
In 2018 the company received awards: Asia Sustainability Reporting (ASR) Awards 2018,
Sustainable Business Awards 2018, TOP Leader on CSR Commitment 2018, Program CSR—
Community Based Development, Best Business Responsibility and Ethics, Etc.
After 20 years at the 22nd floor of Plaza Bapindo, Jl. Jendral Sudirman Kav. 54-55 Jakarta, PT
Vale Indonesia Tbk in Jakarta moved to its new place, the 31st floor of The Energy Building at
SCBD Lot A, Jalan Jendral Sudirman Kav. 52-53. Activities at the new office commenced officially
on 14 March 2016.
The total number of employees as of September 30th, 2018 was 3,149.
February 2019
Disclaimer:

INCO Vale Indonesia Tbk.

Industry Sub Sector : Metal And Mineral Mining (23) Market Capitalization : 38,254,904,072,000
33 | 38.3T | 0.52% | 66.91%
48 | 10.5T | 0.51% | 73.61%

Established Date : 25-Jul-1968 1. Vale Canada Imited. 5,835,607,960 : 58.73%
Listing Date : 16-May-1990 (IPO Price: 9,800) 2. Sumitomo Metal Mining Co., Ltd. 1,996,281,680 : 20.09%
Underwriter IPO : 3. Vale Japan Limited 54,083,720 : 0.54%
PT Danareksa Sekuritas 4. Sumitomo Corporation 14,018,480 : 0.14%
Securities Administration Bureau : 5. Public (<5%) 2,036,346,880 : 20.49%
PT Vale Indonesia Tbk.
DIVIDEND ANNOUNCEMENT
BOARD OF COMMISSIONERS Bonus Cash Recording Payment
F/I
1. Eduardo Bartolomeo Year Shares Dividend Cum Date Ex Date Date Date
2. Mahendra Siregar 1992 US$ 0.05 15-Apr-93 16-Apr-93 23-Apr-93 21-May-93 F
3. Mark James Travers 1993 US$ 0,05 25-Apr-94 26-Apr-94 3-May-94 1-Jun-94 F
4. Nobuhiro Matsumoto 1994 US$ 0,05 28-Oct-94 31-Oct-94 7-Nov-94 7-Dec-94 I
5. Raden Sukhyar 1994 US$ 0,05 24-Apr-95 25-Apr-95 2-May-95 2-Jun-95 F
6. Robert Alan Morris 1995 US$ 0,05 3-Nov-95 4-Nov-95 14-Nov-95 13-Dec-95 I
*) Independent Commissioners 1995 US$ 0,05 26-Apr-96 29-Apr-96 7-May-96 5-Jun-96 F
1996 US$ 0.05 4-Nov-96 5-Nov-96 13-Nov-96 12-Dec-96 I
BOARD OF DIRECTORS 1996 121.60 25-Apr-97 28-Apr-97 6-May-97 4-Jun-97 F
1. Nicolas D. Kanter 1997 174.15 10-Nov-97 11-Nov-97 19-Nov-97 18-Dec-97 I
2. Bernardus Irmanto 2002 84.65 29-Apr-03 30-Apr-03 2-May-03 19-May-03 F
3. Febriany Eddy 2002 10.61 13-Nov-03 14-Nov-03 18-Nov-03 5-Dec-03 F
4. Lovro Paulic 2003 US$ 0,15 23-Apr-04 26-Apr-04 28-Apr-04 13-May-04 F
2004 US$ 0.0125 4-Nov-04 5-Nov-04 9-Nov-04 25-Nov-04 I
AUDIT COMMITTEE 2004 US$ 0.0975 19-Apr-05 20-Apr-05 25-Apr-05 10-May-05 F
1. Mahendra Siregar 2005 US$ 0.025 22-Nov-05 23-Nov-05 25-Nov-05 8-Dec-05 I
2. Annie Margono 2005 745.88 25-Apr-06 26-Apr-06 28-Apr-06 12-May-06 F
3. Dedi Rudaedi 2006 US$ 0.025 17-Nov-06 20-Nov-06 22-Nov-06 5-Dec-06 I
2006 454.50 24-Apr-07 27-Apr-07 27-Apr-07 11-May-07 F
CORPORATE SECRETARY 2007 US$ 0,9787 20-Nov-07 21-Nov-07 23-Nov-07 7-Dec-07 I
Cut Fika Lutfi 2007 US$ 0.02264 16-Apr-08 17-Apr-08 21-Apr-08 6-May-08 F
2009 US$ 0,01107 9-Dec-09 10-Dec-09 14-Dec-09 29-Dec-09 I
HEAD OFFICE 2010 178.44 5-Oct-10 6-Oct-10 8-Oct-10 22-Oct-10 I
The Energy Building 31st Floor 2010 125.06 2-May-11 3-May-11 5-May-11 20-May-11 F
SCBD Lot 11 A, Jl. Jend. Sudirman Kav. 52-53 2011 89.68 2-Nov-11 3-Nov-11 7-Nov-11 21-Nov-11 I
Jakarta 12190 2011 79.70 14-May-12 15-May-12 21-May-12 1-Jun-12 F
Phone : (021) 524-9000 2012 24.31 6-Dec-12 7-Dec-12 11-Dec-12 27-Dec-12 I
Fax : (021) 524-9020 2012 24.70 14-May-13 15-May-13 17-May-13 31-May-13 F
Homepage : www.astragraphia.co.id 2013 30.14 29-Nov-13 2-Dec-13 4-Dec-13 18-Dec-13 I
Email : ptvi.shareadmin@vale.com 2014 123.81 28-Nov-14 1-Dec-14 3-Dec-14 17-Dec-14 I
ptvi-corpsec@vale.com
ISSUED HISTORY
Listing Trading
1. First Issue 49,681,694 16-May-90 16-May-90
2. Company Listing 198,726,774 31-Jan-01 31-Jan-01
3. Stock Split 745,225,404 3-Aug-04 3-Aug-04
4. Stock Split 8,942,704,848 15-Jan-08 15-Jan-08


TRADING ACTIVITIES
Vale Indonesia Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,800 160 Jan-15 3,695 3,285 3,450 49,254 157,356 555,099 21
Feb-15 3,675 3,350 3,525 42,735 153,140 534,741 19
4,200 140 Mar-15 3,565 3,230 3,235 41,098 178,101 602,947 22
Apr-15 3,275 2,605 2,795 35,215 225,188 677,054 21
May-15 3,545 2,740 3,120 48,244 260,581 857,171 19
3,600 120
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
3,000 100
Aug-15 2,135 1,190 1,545 46,269 320,687 516,928 20
Sep-15 2,220 1,265 2,185 73,280 497,430 811,348 21
2,400 80
Oct-15 2,700 2,135 2,235 86,392 331,743 783,392 21
Nov-15 2,280 1,645 1,645 43,182 200,892 378,750 21
1,800 60 Dec-15 1,695 1,340 1,635 34,124 196,891 319,271 19
1,200 40 Jan-16 1,635 1,370 1,445 25,378 134,782 196,679 20

Feb-16 1,650 1,375 1,535 32,734 204,914 306,034 20
600 20 Mar-16 2,045 1,530 1,750 52,471 391,455 736,442 21
Apr-16 2,010 1,710 1,860 35,363 286,809 542,339 21
May-16 1,860 1,490 1,655 24,450 148,629 244,992 20
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
Aug-16 3,050 2,480 2,640 42,408 300,925 819,062 22
Sep-16 3,070 2,530 2,950 41,650 250,611 705,147 21
Mining Index Nov-16 3,630 2,560 3,380 69,104 489,835 1,545,759 22
80%
Jan-17 3,110 2,230 2,370 76,644 594,870 1,533,079 21
60% Feb-17 2,850 2,390 2,550 52,817 479,642 1,280,953 19
Mar-17 2,580 2,270 2,390 31,843 279,808 664,474 22
40% 40.5% Apr-17 2,420 2,140 2,220 26,839 162,661 368,725 17
May-17 2,300 1,840 1,905 36,781 233,968 463,047 20
24.6% Jun-17 2,020 1,840 1,850 19,168 113,881 217,207 15
20%
Jul-17 2,510 1,835 2,420 34,878 315,479 689,392 21
7.2% Aug-17 3,140 2,340 2,970 44,711 453,789 1,257,846 22
-
Sep-17 3,100 2,510 2,590 28,511 239,154 677,477 19
Oct-17 3,080 2,600 2,940 42,827 287,855 830,742 22
-20%
Nov-17 3,340 2,710 2,760 40,421 314,422 955,531 22
Dec-17 2,950 2,570 2,890 26,505 130,809 364,746 18
-40%
Jan-18 3,890 2,920 3,750 49,145 327,670 1,100,146 22

-60% Feb-18 3,860 3,310 3,390 40,902 298,186 1,066,959 19
Mar-18 3,370 2,740 2,790 47,591 282,598 854,927 21
-80% Apr-18 3,810 2,780 3,160 50,257 320,776 1,063,104 21
Jun-18 4,300 3,790 4,040 25,625 143,087 578,563 13
Jul-18 4,720 3,880 4,370 50,140 205,649 883,552 22
Days 244 246 238 240 22 Dec-18 3,360 2,960 3,260 38,430 150,227 476,794 18
Price (Rupiah) Jan-19 3,860 3,050 3,850 74,412 422,822 1,498,055 22

High 3,695 3,630 3,340 4,720 3,860
Low 1,190 1,370 1,835 2,740 3,050
Close 1,635 2,820 2,890 3,260 3,850
Close* 1,635 2,820 2,890 3,260 3,850
PER (X) 23.32 -230.18 -138.80 29.48 43.47

PER Industry (X) 0.60 -4.41 6.26 -1.03 0.14
PBV (X) 0.64 1.18 1.17 1.16 1.40


Receivables 1,153,263 1,078,691 1,969,933 2,243,237 1,806,814

1,732,730 1,435,486 1,743,939 1,594,952 1,916,330 26,000
Inventories
Current Assets 7,730,639 8,275,862 8,050,233 8,088,915 9,175,973
19,500
Fixed Assets 20,010,026 22,115,948 20,592,726 20,237,853 20,860,644
Other Assets - - - - -
13,000
Total Assets 29,037,324 31,576,687 29,901,711 29,596,405 32,028,057
Growth (%) 8.75% -5.30% -1.02% 8.22% 6,500

Long Term Liabilities 4,235,161 4,230,689 3,478,769 3,195,865 2,085,105 2014 2015 2016 2017 2018
Growth (%) -8.03% -16.35% -5.80% -6.32%
Paid up Capital 248,408 248,408 248,408 248,408 248,408 27,393
25,298 24,650 24,649
Par Value 25 25 25 25 25
21,805

Total Equity 22,209,791 25,297,603 24,649,538 24,648,784 27,393,158
16,217
Growth (%) 13.90% -2.56% -0.00% 11.13% 10,629
INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 5,040
Total Revenues 12,913,740 10,893,743 7,848,545 8,526,217 11,297,680

Growth (%) -15.64% -27.95% 8.63% 32.51%
-548
2014 2015 2016 2017 2018
Cost of Revenues 9,098,865 9,261,140 7,390,042 8,437,423 9,785,297

Gross Profit 3,814,875 1,632,603 458,504 88,794 1,512,383
Expenses (Income) 711,779 532,517 266,396 294,926 278,436
Operating Profit 3,103,096 1,100,085 192,108 -206,133 1,233,947 12,914
Growth (%) -64.55% -82.54% N/A N/A 11,298

12,914
10,894
8,526
10,279
Other Income (Expenses) -155,674 -136,878 -122,711 -105,742 -32,530 7,849

Income before Tax 2,947,422 963,207 69,397 -311,875 1,201,416 7,645
Tax 804,370 266,597 43,788 -104,983 321,451

Profit for the period 2,143,051 696,611 25,609 -206,892 879,966 5,011
Growth (%) -67.49% -96.32% N/A N/A

2,376
Period Attributable 2,143,051 696,611 25,609 -206,892 879,966 -258
Comprehensive Income 2,129,056 670,444 8,492 -206,011 935,923 2014 2015 2016 2017 2018
Comprehensive Attributable 2,129,056 670,444 8,492 -206,011 935,923
RATIOS Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 PROFIT FOR THE PERIOD (Bill. Rp)
Current Ratio (%) 298.21 404.02 453.94 461.76 359.87
2,143
Dividend (Rp) 123.81 - - - - 2,143
EPS (Rp) 215.68 70.11 2.58 -20.82 88.56

BV (Rp) 2,235.21 2,545.97 2,480.75 2,480.67 2,756.87 1,673
DAR (X) 0.24 0.20 0.18 0.17 0.14

DER(X) 0.31 0.25 0.21 0.20 0.17 880
1,203
697
ROA (%) 7.38 2.21 0.09 -0.70 2.75 733
ROE (%) 9.65 2.75 0.10 -0.84 3.21

GPM (%) 29.54 14.99 5.84 1.04 13.39 263
26 2017
OPM (%) 24.03 10.10 2.45 -2.42 10.92
NPM (%) 16.60 6.39 0.33 -2.43 7.79
-207
2014 2015 2016 2018

-207
Payout Ratio (%) 57.41 - - - -
Yield (%) 3.42 - - - -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,542

INDOFOOD SUKSES MAKMUR TBK.
Company Profile
PT Indofood Sukses Makmur Tbk. was established on August 14, 1990 under its original name PT
Panganjaya Intikusuma, and entered the snack foods business through a joint venture (“JV”) with
Fritolay Netherlands Holding B.V., an affiliate of PepsiCo Inc. In 1995, the Company’name changed to
PT Indofood Sukses Makmur. In the same year, the Company listed on the Jakarta Stock Exchange.
The scope of its activities comprises, among others, establishing and operating processed food,
seasoning, beverages, packaging, cooking oil, wheat grain mills, flour sacks textile manufacturing,
trading, transportation, agribusiness, and services.
The Company is a leading Total Food Solutions Company with operation spanning from the
production of raw materials and their processing, to consumer products in the market. Indofood
capitalizes on its resilient business model with 5 complementary Strategic Business Groups:
Consumer Branded Products, Bogasari, Agribusiness, Distribution, Cultivation and Processed
Vegetables. The flour milling industry which itself is integrated with the Company’s subsidiary
engaged in the field of consumer branded products; the agribusiness industry, which consist of oil
palm plantations and related processing mills, as well as other types of plantations and processing
operations; as well as distribution.
The Company’s head office is located at Sudirman Plaza, Indofood Tower, 27th Floor, Jl. Jend.
Sudirman Kav. 76 - 78, Jakarta, Indonesia, while the Company and its Subsidiaries’ factories and
estates are situated in various locations in Java, Sumatera, Kalimantan, Sulawesi islands and Malaysia.
The Company started its commercial operations in 1990.
As of September 30th, 2018, the Group has a total of 88,205 employees.
February 2019
Disclaimer:

INDF Indofood Sukses Makmur Tbk.

Industry Sub Sector : Food And Beverages (51) Market Capitalization : 68,048,305,375,000
19 | 68.0T | 0.92% | 42.53%
10 | 45.7T | 2.20% | 33.03%

Established Date : 14-Aug-1990 1. First Pacific Investment Management Ltd. 4,396,103,450 : 50.07%
Listing Date : 14-Jul-1994 (IPO Price: 6,200) 2. Public (<5%) 4,384,323,050 : 49.93%
Underwriter IPO :
PT Merincorp S.I. DIVIDEND ANNOUNCEMENT
F/I
1994 58.00 21-Jul-95 24-Jul-95 1-Aug-95 31-Aug-95 F
1. Manuel Velez Pangilinan 1996 47.00 10-Jul-97 11-Jul-97 22-Jul-97 22-Aug-97 F
2. Adi Pranoto Leman *) 2000 18.00 11-Jul-01 12-Jul-01 17-Jul-01 31-Jul-01 F
3. Bambang Subianto *) 2001 25.00 9-Jul-02 10-Jul-02 15-Jul-02 29-Jul-02 F
4. Benny Setiawan Santoso 2002 28.00 17-Jul-03 18-Jul-03 22-Jul-03 5-Aug-03 F
5. Christopher Huxley Young 2003 28.00 15-Jul-04 16-Jul-04 20-Jul-04 2-Aug-04 F
6. Joseph Hon Pong Ng 2004 17.50 26-Aug-05 29-Aug-05 31-Aug-05 15-Sep-05 F
7. Robert Charles Nicholson 2005 5.00 20-Jul-06 21-Jul-06 25-Jul-06 8-Aug-06 F
8. Utomo Josodirdjo *) 2006 31.00 27-Jul-07 30-Jul-07 1-Aug-07 15-Aug-07 F
*) Independent Commissioners 2007 43.00 12-Aug-08 13-Aug-08 15-Aug-08 27-Aug-08 F
2008 47.00 2-Jul-09 3-Jul-09 7-Jul-09 22-Jul-09 F
1. Anthoni Salim 2010 133.00 26-Jul-11 27-Jul-11 29-Jul-11 9-Aug-11 F
2. Axton Salim 2011 175.00 17-Jul-12 18-Jul-12 20-Jul-12 3-Aug-12 F
3. Franciscus Welirang 2012 185.00 17-Jul-13 18-Jul-13 22-Jul-13 2-Aug-13 F
4. Hendra Widjaja 2013 142.00 15-Jul-14 16-Jul-14 18-Jul-14 8-Aug-14 F
5. Joedianto Soejonopoetro 2014 220.00 18-May-15 19-May-15 21-May-15 11-Jun-15 F
6. Moleonoto (Paulus Moleonoto) 2015 168.00 10-Jun-16 13-Jun-16 15-Jun-16 28-Jun-16 F
7. Sulianto Pratama 2016 235.00 9-Jun-17 12-Jun-17 14-Jun-17 6-Jul-17 F
8. Taufik Wiraatmadja 2017 237.00 8-Jun-18 20-Jun-18 22-Jun-18 5-Jul-18 F
9. Tjhie Tje Fie (Thomas Tjhie) 2018 65.00 5-Nov-18 6-Nov-18 8-Nov-18 29-Nov-18 I
AUDIT COMMITTEE ISSUED HISTORY

1. Utomo Josodirdjo Listing Trading
2. Adi Pranoto Leman No. Type of Listing Shares Date Date
3. Timotius 1. First Issue 21,000,000 14-Jul-94 14-Jul-94
2. Founder Shares 742,000,000 T: 14-Jul-94 : 8-Feb-95
CORPORATE SECRETARY 3. Stock Split 8,087,800,000 T: 12-Aug-96 : 29-Sep-00
Victor Suhendra 4. Right Issue 305,200,000 24-Apr-97 24-Apr-97
5. Option Conversion 287,269,500 T: 7-May-02 : 12-Jun-03
HEAD OFFICE 6. Option III Conversion 919,500 T: 6-Feb-04 : 24-May-04
Sudirman Plaza, Indofood Tower 27th Floor 7. Buy Back -663,762,500 28-Oct-08 28-Oct-08
Jl. Jend. Sudirman Kav. 76 - 78
Jakarta 12190
Phone : (021) 5795-8822
Fax : (021) 5793-5960
Email : corporate.secretary@indofood.co.id
victor.suhendra@indofood.co.id


TRADING ACTIVITIES
Indofood Sukses Makmur Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
10,000 4,800 Jan-15 7,725 6,850 7,550 59,020 454,670 3,360,218 21
Feb-15 7,675 7,250 7,400 38,795 183,393 1,357,302 19
8,750 4,200 Mar-15 7,550 7,300 7,450 54,233 329,852 2,445,636 22
Apr-15 7,500 6,475 6,750 41,210 220,479 1,599,979 21
May-15 7,400 6,600 7,300 59,010 287,107 2,003,105 19
7,500 3,600
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
6,250 3,000
Aug-15 6,325 4,560 5,300 66,387 264,443 1,448,909 20
Sep-15 5,575 4,845 5,500 51,705 161,241 833,125 21
5,000 2,400
Oct-15 6,425 5,275 5,525 52,746 189,030 1,106,788 21
Nov-15 6,100 4,875 4,875 59,131 178,196 965,686 21
3,750 1,800 Dec-15 5,300 4,840 5,175 51,839 174,809 889,022 19
2,500 1,200 Jan-16 6,200 5,175 6,200 54,060 245,954 1,402,717 20

Feb-16 7,250 6,050 7,050 49,174 194,555 1,287,771 20
1,250 600 Mar-16 7,575 6,800 7,225 67,818 292,582 2,112,209 21
Apr-16 7,300 6,800 7,125 38,431 173,600 1,240,617 21
May-16 7,225 6,825 6,925 36,271 121,239 850,377 20
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
Aug-16 8,500 7,750 7,925 61,179 240,903 1,946,059 22
Sep-16 9,200 7,950 8,700 62,815 636,042 5,282,231 21
40%
Jan-17 8,150 7,700 7,925 44,461 130,722 1,036,766 21
30% Feb-17 8,200 7,875 8,125 31,002 148,451 1,188,765 19
24.6% Mar-17 8,525 7,875 8,000 55,584 235,935 1,905,664 22
20% 20.7% Apr-17 8,525 7,925 8,375 35,597 192,281 1,571,623 17
May-17 9,000 8,300 8,750 47,376 258,980 2,217,485 20
10% Jun-17 8,950 8,300 8,600 41,418 259,018 2,213,387 15
Jul-17 8,800 8,250 8,375 44,875 146,573 1,266,372 21
4.0%
Aug-17 8,700 8,150 8,375 42,185 123,377 1,031,101 22
-
Sep-17 8,750 8,275 8,425 40,679 130,850 1,116,755 19
Oct-17 8,675 8,150 8,200 43,969 174,948 1,463,871 22
-10%
Nov-17 8,325 7,325 7,325 61,052 299,430 2,458,525 22
Dec-17 7,775 7,275 7,625 48,562 286,838 2,236,345 18
-20%
Jan-18 8,125 7,550 7,750 58,037 227,028 1,787,772 22

-30% Feb-18 7,925 7,550 7,575 37,655 152,504 1,180,453 19
Mar-18 7,800 6,975 7,200 50,568 4,573,540 32,627,053 21
-40% Apr-18 7,350 6,575 6,975 40,446 167,418 1,184,145 21
Jun-18 7,250 6,350 6,650 46,680 153,680 1,061,834 13
Jul-18 6,675 6,150 6,350 40,002 110,567 708,221 22
Days 244 246 238 240 22 Dec-18 7,550 6,400 7,450 59,855 223,380 1,557,553 18
Price (Rupiah) Jan-19 7,900 7,200 7,750 59,946 232,647 1,736,920 22

High 7,725 9,200 9,000 8,125 7,900
Low 4,560 5,175 7,275 5,500 7,200
Close 5,175 7,925 7,625 7,450 7,750
Close* 5,175 7,925 7,625 7,450 7,750
PER (X) 15.31 16.11 16.06 17.40 18.10

PER Industry (X) 17.71 23.77 18.48 24.94 36.52
PBV (X) 1.05 1.55 1.43 1.35 1.40


Receivables 4,339,670 5,116,610 5,204,517 6,404,803 5,845,011

8,454,845 7,627,360 8,469,821 9,690,981 12,145,480 80,000
Inventories
Current Assets 40,995,736 42,816,745 28,985,443 32,515,399 35,553,231
60,000
Fixed Assets 22,011,488 25,096,342 25,701,913 29,787,303 42,050,257
Other Assets 1,702,988 1,529,983 3,479,254 1,305,985 2,760,298
40,000
Total Assets 85,938,885 91,831,526 82,174,515 87,939,488 95,989,207
Growth (%) 6.86% -10.52% 7.02% 9.15% 20,000

Growth (%) 8.95% -21.51% 7.71% 15.18%
46,757
Paid up Capital 878,043 878,043 878,043 878,043 878,043 48,554
43,122 43,941
41,228
Par Value 100 100 100 100 100
38,649

Total Equity 41,228,376 43,121,593 43,941,423 46,756,724 48,553,764
28,744
Growth (%) 4.59% 1.90% 6.41% 3.84% 18,839
Total Revenues 63,594,452 64,061,947 66,659,484 70,186,618 54,742,187

Growth (%) 0.74% 4.05% 5.29%
-971
2014 2015 2016 2017 Sep-18
Cost of Revenues 46,544,646 46,803,889 47,321,877 50,318,096 39,272,319

Gross Profit 17,049,806 17,258,058 19,337,607 19,868,522 15,469,868
Expenses (Income) 9,841,074 9,895,163 11,052,600 11,121,020 8,678,090
66,659
63,594 64,062
Growth (%) 2.14% 12.52% 5.58%
70,187
54,742
55,869
Other Income (Expenses) -979,435 -2,400,811 -899,779 -1,088,948 -1,495,769

Tax 1,828,217 1,730,371 2,532,747 2,513,491 1,715,919

Growth (%) -27.92% 41.98% -2.31%

12,914
Current Ratio (%) 180.74 170.53 150.81 150.27 113.10
5,146 5,267 5,145
Dividend (Rp) 220.00 168.00 235.00 237.00 65.00 5,267
EPS (Rp) 442.50 338.02 472.02 474.75 321.16

BV (Rp) 4,695.49 4,911.10 5,004.47 5,325.11 5,529.77 4,192
3,710 3,580
DAR (X) 0.52 0.53 0.47 0.47 0.49
DER(X) 1.08 1.13 0.87 0.88 0.98
3,118
ROA (%) 5.99 4.04 6.41 5.85 3.73 2,044
ROE (%) 12.48 8.60 11.99 11.00 7.37

GPM (%) 26.81 26.94 29.01 28.31 28.26 969
OPM (%) 11.34 11.49 12.43 12.46 12.41

NPM (%) 8.09 5.79 7.90 7.33 6.54
-105
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 49.72 49.70 49.79 49.92 20.24
Yield (%) 3.26 3.25 2.97 3.11 1.10
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

INDIKA ENERGY TBK.
Company Profile
PT Indika Energy Tbk. was established October 19th, 2000. The Company started its commercial operations
in 2004.
The company is an integrated energy company serving customers throughout Indonesia and the world with
energy solutions achieved through diversified strategic investments in energy resources, energy services,
energy infrastructure and Floating Crane. The company embraces challenges with a strong corporate values
and culture, leveraging its integrity, solidarity and sustainability policies across all of its operations and
sustainability activities.
The company emphasizes the strategic and efficient production of Indonesia’s natural resources to meet both
domestic and global energy demand through its key coal mining facilities of PT Kideco Jaya Agung, PT Multi
Tambangjaya Utama (MUTU), PT Indika Inti Corporindo, Indika Capital Investment Pte. Ltd., PT Santan
Batubara, and PT Mitra Energi Agung.
The core strategy for growth has been strengthening the foundation for greater value-chain integration. The
Company has ownership interest of more than 50%, directly or indirectly, in the following subsidiaries: PT
Kideco Jaya Agung, PT Multi Tambangjaya Utama (MUTU), PT Indika Inti Corporindo, Indika Capital
Investment Pte.Ltd, PT Mitra Energi Agung , PT Petrosea Tbk, PT Tripatra Engineering & PT Tripatra Engineers
& Constructors, PT Mitrabahtera Segara Sejati Tbk, PT Kuala Pelabuhan Indonesia, and Petrosea Oshore
Supply Base (POSB).
The company domiciled in Jakarta, and the head office is located in Mitra Building, 3rd Floor, Jln. Jend. Gatot
Subroto Kav. 21, Jakarta.
At September 30th, 2018, the company and its subsidiaries had total number of employees of 8,544 (including
3,574 non-permanent employees).
February 2019
Disclaimer:
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being those of the publisher
or of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the publication it should
not be by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or otherwise responsible in anyway
for any advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.

INDY Indika Energy Tbk.

97 | 11.1T | 0.15% | 83.89%
39 | 14.3T | 0.69% | 68.69%

Established Date : 19-Oct-2000 1. PT Indika Inti Investindo 1,968,882,699 : 37.79%
Listing Date : 11-Jun-2008 (IPO Price: 2,950) 2. PT Teladan Resources 1,596,977,091 : 30.65%
PT Danareksa Sekuritas
PT Mandiri Sekuritas DIVIDEND ANNOUNCEMENT
PT Indo Premier Securities Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2008 84.00 17-Jun-09 18-Jun-09 22-Jun-09 3-Jul-09 F
2009 69.68 8-Jun-10 9-Jun-10 11-Jun-10 25-Jun-10 F
BOARD OF COMMISSIONERS 2010 48.00 10-Nov-10 11-Nov-10 15-Nov-10 30-Nov-10 I
1. Agus Lasmono 2010 26.00 12-Jul-11 13-Jul-11 15-Jul-11 29-Jul-11 F
2. Boyke Wibowo Mukijat *) 2011 60.00 9-Jul-12 10-Jul-12 12-Jul-12 26-Jul-12 F
3. Indracahya Basuki 2012 35.26 12-Jul-13 15-Jul-13 17-Jul-13 31-Jul-13 F
4. M. Chatib Basri *) 2017 108.05 4-May-18 7-May-18 9-May-18 30-May-18 F
5. Richard Bruce Ness 2018 54.43 13-Dec-18 14-Dec-18 13-Dec-18 28-Dec-18 I
ISSUED HISTORY
1. M. Arsjad Rasjid P.M. No. Type of Listing Shares Date Date
2. Azis Armand 1. First Issue 937,284,000 11-Jun-08 11-Jun-08
3. Eddy Junaedy Danu 2. Company Listing 4,269,858,000 11-Jun-08 11-Jun-08
3. ESOP/MSOP I 3,050,000 15-Aug-11 15-Aug-11
AUDIT COMMITTEE
1. Boyke Wibowo Mukijat
2. Osman Sitorus
3. Tonyadi Halim
CORPORATE SECRETARY
Adi Pramono
HEAD OFFICE
Graha Mitra 11st Floor
Jl. Jend. Gatot Subroto Kav. 21
Jakarta 12930
Phone : (021) 2557-9888
Fax : (021) 2557-9889
Email : corporate.secretary@indikaenergy.co.id
investor.relations@indikaenergy.co.id


TRADING ACTIVITIES
Indika Energy Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,600 4,000 Jan-15 520 485 492 7,607 35,047 17,527 21
Feb-15 497 451 454 6,032 28,473 15,705 19
4,025 3,500 Mar-15 483 426 434 6,109 20,037 9,043 22
Apr-15 435 290 290 5,225 40,432 43,273 21
May-15 431 300 370 13,977 122,227 48,472 19
3,450 3,000
Jun-15 380 310 315 8,424 58,486 19,126 21
Jul-15 328 286 290 4,820 21,616 6,666 19
2,875 2,500
Aug-15 308 203 229 4,313 24,360 6,299 20
Sep-15 245 185 193 3,919 52,357 13,071 21
2,300 2,000
Oct-15 232 177 182 5,370 60,552 32,986 21
Nov-15 185 130 131 11,617 209,414 36,527 21
1,725 1,500 Dec-15 137 105 110 8,269 103,690 12,226 19
1,150 1,000 Jan-16 122 106 114 3,895 103,643 11,632 20

Feb-16 155 110 130 14,672 517,201 66,855 20
575 500 Mar-16 377 130 345 42,267 1,241,280 263,517 15
Apr-16 520 252 482 82,558 1,986,792 758,879 21
May-16 685 434 610 42,863 1,044,249 582,330 20
Jun-16 685 510 540 22,899 322,078 194,408 22
Jul-16 710 515 605 16,170 278,462 179,816 16
Aug-16 785 595 675 31,600 536,205 380,852 22
Sep-16 720 580 615 14,841 157,366 103,408 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-16 740 625 655 22,857 386,440 269,639 21
Mining Index Nov-16 1,005 660 780 68,659 1,141,134 985,976 22
840%
Jan-17 835 670 775 18,045 261,995 195,352 21
720% Feb-17 795 715 740 12,991 116,998 87,920 19
Mar-17 775 680 710 12,068 119,066 86,251 22
600% Apr-17 925 690 900 33,266 597,558 475,201 17
May-17 1,320 735 800 162,883 3,481,848 3,302,562 20
480% Jun-17 875 780 785 33,223 564,355 470,501 15
Jul-17 965 750 825 56,049 1,028,383 885,407 21
Aug-17 1,345 840 1,270 92,057 1,414,547 1,479,796 22
360%
313.6% Sep-17 2,150 1,265 1,940 115,549 1,504,573 2,694,415 19
Oct-17 2,460 1,830 2,250 75,217 585,957 1,269,341 22
240%
Nov-17 2,950 2,250 2,800 102,691 4,015,333 2,907,052 22
Dec-17 3,230 2,380 3,060 68,142 520,694 1,497,580 18
120%
40.5% Jan-18 4,630 3,070 4,470 113,819 635,056 2,489,866 22

- 24.6%
Feb-18 4,560 4,020 4,320 78,823 416,333 1,767,923 19
Mar-18 4,340 3,270 3,530 90,996 534,214 1,895,873 21
-120% Apr-18 3,970 3,390 3,410 73,624 319,874 1,192,641 21
Jun-18 4,130 3,280 3,420 60,754 290,199 1,107,304 13
Jul-18 3,890 3,040 3,600 90,351 413,036 1,417,238 22
Value (Billion Rp) 261 3,963 15,351 15,281 1,462 Oct-18 2,980 2,120 2,240 53,106 263,826 681,649 23
Days 244 240 238 240 22 Dec-18 2,080 1,580 1,585 59,830 244,057 456,758 18
Price (Rupiah) Jan-19 2,260 1,500 2,130 138,771 725,987 1,462,133 22

High 520 1,005 3,230 4,630 2,260
Low 105 106 670 1,580 1,500
Close 110 705 3,060 1,585 2,130
Close* 110 705 3,060 1,585 2,130
PER (X) -0.93 -12.99 3.51 3.70 4.97

PER Industry (X) 9.49 8.16 16.02 -1.03 0.14
PBV (X) 0.05 0.35 1.06 0.46 0.62


Public Accountant : Osman Bing Satrio & Partners
Receivables 2,264,416 2,633,032 1,690,671 5,245,241 5,942,042

169,083 141,471 119,744 1,035,430 965,441 50,000
Inventories
Current Assets 10,339,531 12,125,907 8,967,673 18,341,097 21,438,147
37,500
Fixed Assets 8,212,926 8,741,246 6,960,807 8,272,594 9,377,875
25,000
Total Assets 28,482,821 31,519,075 24,484,867 49,256,537 54,920,510
Growth (%) 10.66% -22.32% 101.17% 11.50% 12,500

Growth (%) 12.82% -24.85% 135.08% 8.52%
Paid up Capital 521,019 521,019 521,019 521,019 521,019 17,861
15,106
Par Value 100 100 100 100 100 12,188
14,218
11,348
Retained Earnings 4,068,537 4,139,787 2,886,729 7,455,022 9,292,334 9,958
Total Equity 11,347,885 12,187,946 9,957,548 15,106,322 17,861,319
10,574
Growth (%) 7.40% -18.30% 51.71% 18.24% 6,930
Total Revenues 13,797,845 16,083,075 10,416,030 14,886,004 32,551,579

Growth (%) 16.56% -35.24% 42.91%
-357
2014 2015 2016 2017 Sep-18
Cost of Revenues 11,795,206 14,788,427 9,224,232 13,220,726 24,312,442

Gross Profit 2,002,639 1,294,647 1,191,798 1,665,277 8,239,138
Expenses (Income) 2,031,295 2,582,624 2,737,032 -2,400,695 4,086,383
Operating Profit - - -1,545,234 - - 32,552
Growth (%) 100.00%

32,552
25,911

Income before Tax -28,657 -1,287,977 -1,545,234 4,065,972 4,152,755 16,083
14,886
19,271
Tax 350,628 -161,630 -144,790 -291,514 2,209,667 13,798

10,416
Profit for the period -379,285 -1,126,347 -1,400,444 4,357,486 1,943,087 12,630
Growth (%) -196.97% -24.34% N/A

5,989
Period Attributable -342,174 -653,525 -908,194 4,544,230 1,674,553 -651
Comprehensive Income -380,107 -1,084,862 -1,378,081 4,358,582 2,063,226 2014 2015 2016 2017 Sep-18
Comprehensive Attributable -342,996 -612,040 -885,831 4,545,326 1,794,692
Current Ratio (%) 209.56 163.63 213.25 205.28 228.88
4,357
Dividend (Rp) - - - 108.05 54.43 4,357
EPS (Rp) -65.67 -125.43 -174.31 872.18 321.40

BV (Rp) 2,178.02 2,339.25 1,911.17 2,899.38 3,428.15 3,206
DAR (X) 0.60 0.61 0.59 0.69 0.67 1,943

DER(X) 1.51 1.59 1.46 2.26 2.07
2,054
ROA (%) -1.33 -3.57 -5.72 8.85 3.54 903
ROE (%) -3.34 -9.24 -14.06 28.85 10.88 2014 2015 2016
GPM (%) 14.51 8.05 11.44 11.19 25.31
2017 Sep-18
-249
OPM (%) - - -14.84 - - -379

NPM (%) -2.75 -7.00 -13.45 29.27 5.97
-1,400
-1,126
-1,400
Payout Ratio (%) - - - 12.39 16.94
Yield (%) - - - 3.53 1.94
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

INDAH KIAT PULP & PAPER TBK.

Company Profile
PT Indah Kiat Pulp & Paper Tbk. was established as a joint venture in 1976, with the Sinar Mas Group
acquiring 67% of total shares in 1986 and was listed on the Jakarta and Surabaya stock exchange in
1990. It has a fully integrated pulp and paper mill in Riau, and two manufacturing facilities in West
Java, which produce fine paper and packaging products respectively.
The company currently produces various types of paper products, including printing and writing paper,
and packaging products, such as containerboard and boxboard. It also produces BHK pulp which is the
key raw material for paper products and is also used in the production of packaging products. The
company’s principal printing and writing paper products are uncoated freesheet and cut-sized
photocopier paper. They are sold under the following major brands: Paperline, Britex, Copy Paper, PPC
Paper, Paperon, IK-Plus, and e-Paper. The packaging products include: ivory board, duplex board and
containerboard.
The Company now has production facilities in three locations: Perawang - Riau, Tangerang and Serang,
Banten. The Company’s main business activities are the production of pulp, various types of culture
papers consisting of printing and writing paper (coated and uncoated freesheet) and photocopy paper.
The Company also produces industrial paper, i.e packaging paper which comprises: containerboard
(linerboard and corrugated medium), corrugated shipping containers (converted from
containerboard), boxboard, food packaging and specialty colored papers
The Company has direct ownership in subsidiaries: Indah Kiat International Finance Company B.V.
Indah Kiat Finance Mauritius Limited, IK Trading Limited, Indah Kiat Finance (IV) Mauritius Limited,
Indah Kiat Finance (IV) Mauritius Limited, IK Import & Export Limited, Indah Kiat Finance (VIII)
Mauritius Limited, Global Fibre Limited, Imperial Investment Limited, Indah Kiat Finance B.V., PT Graha
Kemasindo Indahand PT Paramitra Abadimas Cemerlang And indirect ownership in subsidiary, PT
Indah Kiat Power, PT Paramitra Gunakarya Cemerlang.
The Company is domiciled in Central Jakarta with its head office located at Sinar Mas Land Plaza Tower
2, 7th Floor, Jl. M.H Thamrin No.51 Jakarta 10350. The Company and subsidiaries permanent
employees as of September 30th, 2018 were approximately 13 thousand.
February 2019
Disclaimer:

INKP Indah Kiat Pulp & Paper Tbk.

Industry Sub Sector : Pulp & Paper (38) Market Capitalization : 71,122,778,233,000
17 | 71.1T | 0.96% | 55.84%
9 | 46.0T | 2.21% | 34.06%

Established Date : 07-Dec-1976 1. PT Purinusa Ekapersada 2,898,928,298 : 52.99%
Underwriter IPO :
PT Ficorinvest DIVIDEND ANNOUNCEMENT
PT Jardine Fleming Nusantara Bonus Cash Recording Payment
F/I
PT Nomura Indonesia Year Shares Dividend Cum Date Ex Date Date Date
PT Inter-Pacific 1990 5:1 16-Jan-91 17-Jan-91 25-Jan-91 6-Feb-91 F
PT Bank Pembangunan Indonesia 1990 4:1 100.00 29-Oct-91 30-Oct-91 15-Nov-91 16-Dec-91 F1990&BS1990
Securities Administration Bureau : 1991 2:1 12-Aug-92 13-Aug-92 21-Aug-92 18-Sep-92 F

PT Sinartama Gunita 1992 50.00 9-Nov-92 10-Nov-92 17-Nov-92 26-Nov-92 I
1993 100:40 25.00 11-Aug-94 12-Aug-94 22-Aug-94 22-Sep-94 F
BOARD OF COMMISSIONERS 1994 1000 : 24 35.00 4-Sep-95 5-Sep-95 13-Sep-95 12-Oct-95 F
1. Saleh Husin 1994 100 : 11 2-Nov-95 3-Nov-95 13-Nov-95 12-Dec-95 BS
2. Arthur Tahya 1995 100 : 8 & 100 : 13 35.00 23-Aug-96 26-Aug-96 3-Sep-96 2-Oct-96 F
3. Deddy Saleh *) 1996 35.00 7-Jul-97 8-Jul-97 16-Jul-97 14-Aug-97 F
4. Kosim Sutiono 2013 25.00 17-Oct-14 20-Oct-14 22-Oct-14 5-Nov-14 F
5. Pande Putu Raka *) 2014 10.00 2-Jul-15 3-Jul-15 7-Jul-15 29-Jul-15 F
6. Ramelan *) 2014 25.00 2-Jul-15 3-Jul-15 7-Jul-15 29-Jul-15 F
7. Sukirta Mangku Djaja 2015 25.00 12-Jul-16 13-Jul-16 15-Jul-16 29-Jul-16 F
*) Independent Commissioners 2016 30.00 19-Jun-17 20-Jun-17 22-Jun-17 14-Jul-17 F
2017 100.00 4-Jul-18 5-Jul-18 9-Jul-18 27-Jul-18 F
BOARD OF DIRECTORS
1. Hendra Jaya Kosasih ISSUED HISTORY
2. Agustian Rachmansjah Partawidjaja Listing Trading
3. Didi Harsa No. Type of Listing Shares Date Date
4. Heri Santoso 1. First Issue 60,000,000 16-Jul-90 16-Jul-90
5. Kurniawan Yuwono 2. Partial Listing 231,348,635 T: 16-Jul-90 : 3-Sep-97
6. Lan Cheng Ting 3. Bonus Shares 677,845,337 T: 11-Feb-91 : 3-Oct-96
7. lioe Djohan / Djohan Gunawan 4. Koperasi 4,333,125 T: 28-Jun-93 : 1-Jan-00
8. Suhendra Wiriadinata 5. Stock Dividend 100,237,392 T: 13-Oct-95 : 3-Oct-96
9. Suresh Kilam 6. Right Issue 1,561,046,740 T: 15-Apr-96 : 11-Jul-97
10. Suryamin Halim 7. Warrant I 302,527,512 T: 1-Nov-96 : 30-Apr-01
8. Bonus Shares, Stocks Dividend, & Right Issue 1,712,297,882 3-Sep-97 3-Sep-97
AUDIT COMMITTEE 9. Warrant II 165,772,790 T: 9-Feb-98 : 16-Apr-01
1. Ramelan 10. Warrant I & Company Listing 655,573,528 22-Dec-00 22-Dec-00
2. Aditiawan Chandra
3. Deddy Saleh
CORPORATE SECRETARY
Heri Santoso
HEAD OFFICE
Sinar Mas Land Plaza, Tower II, 5th Floor
Jl. Mh. Thamrin No.51
Jakarta 10350
Phone : (021) 2965-0800
Fax : (021) 3927685
Email :


TRADING ACTIVITIES
Indah Kiat Pulp & Paper Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
22,000 320 Jan-15 1,115 1,030 1,090 3,515 11,737 12,531 21
Feb-15 1,095 930 930 6,009 43,736 43,756 19
19,250 280 Mar-15 1,000 910 995 4,501 25,798 24,184 22
Apr-15 1,150 920 1,120 2,489 15,511 16,177 21
May-15 1,200 1,000 1,000 5,143 23,229 25,649 19
16,500 240
Jun-15 1,030 865 895 4,860 19,319 17,711 21
Jul-15 990 860 960 4,687 18,971 17,314 19
13,750 200
Aug-15 1,040 755 780 15,167 37,469 32,478 20
Sep-15 845 720 790 4,074 15,532 12,359 21
11,000 160
Oct-15 850 790 825 2,334 14,333 11,753 21
Nov-15 1,050 830 950 5,973 32,820 32,195 21
8,250 120 Dec-15 985 855 955 2,423 63,809 57,621 19
5,500 80 Jan-16 960 910 935 1,446 12,410 11,608 20

Feb-16 955 845 885 3,264 16,357 14,456 20
2,750 40 Mar-16 1,000 885 960 7,476 45,577 42,923 21
Apr-16 1,080 900 1,000 10,381 98,857 101,308 21
May-16 995 880 900 4,335 33,419 30,523 20
Jun-16 930 875 920 2,930 18,490 16,728 22
Jul-16 1,100 900 1,050 6,732 61,863 62,838 16
Aug-16 1,205 980 1,040 9,372 106,464 112,254 22
Sep-16 1,070 950 985 1,878 256,344 232,420 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-16 1,085 950 1,060 3,922 118,470 118,638 21
Basic Industry and Chemicals Index Nov-16 1,100 950 975 1,715 27,331 27,273 22
1,750%
Jan-17 1,185 955 1,045 6,898 88,249 96,634 21
1,500% Feb-17 1,270 1,030 1,260 3,736 41,713 47,977 19
Mar-17 1,360 1,050 1,310 6,286 61,790 76,930 22
1,250% Apr-17 2,130 1,300 2,080 25,071 176,155 305,497 17
May-17 2,990 2,110 2,530 45,941 243,111 618,129 20
1081.8%
1,000% Jun-17 2,690 2,350 2,550 14,735 88,552 221,656 15
Jul-17 3,050 2,400 2,770 18,204 327,713 850,564 21
Aug-17 3,090 2,610 3,080 43,081 420,596 1,155,750 22
750%
Sep-17 4,390 3,060 4,190 46,240 249,294 864,922 19
Oct-17 5,275 4,110 5,275 39,899 124,446 563,713 22
500%
Nov-17 6,000 4,650 5,225 59,014 195,150 1,032,498 22
Dec-17 5,525 4,550 5,400 143,322 174,093 853,880 18
250%
68.3% Jan-18 9,450 5,350 9,375 57,695 219,024 1,516,362 22

- 24.6% Feb-18 10,975 7,600 10,750 64,196 209,190 1,891,880 19
Mar-18 12,525 10,400 11,000 94,787 380,376 4,348,198 21
-250% Apr-18 13,425 10,675 13,200 85,825 251,187 3,006,678 21
Jun-18 20,700 16,275 18,600 115,011 238,060 4,641,131 13
Jul-18 20,375 14,650 19,200 135,104 292,771 5,455,934 22
Volume (Million Sh.) 322 837 2,191 3,214 145 Sep-18 19,050 16,500 17,350 90,573 206,544 3,655,581 19
Value (Billion Rp) 304 811 6,688 45,677 1,792 Oct-18 17,575 10,750 12,725 153,340 225,937 3,102,182 23
Frequency (Thou. X) 61 56 452 1,256 113 Nov-18 13,800 10,425 10,500 145,515 210,799 2,459,286 21
Days 244 246 238 240 22 Dec-18 12,200 10,475 11,550 82,039 174,476 1,963,690 18
Price (Rupiah) Jan-19 13,700 11,150 13,000 113,051 144,509 1,792,145 22

High 1,200 1,205 6,000 20,700 13,700
Low 720 845 955 5,350 11,150
Close 955 955 5,400 11,550 13,000
Close* 955 955 5,400 11,550 13,000
PER (X) 1.70 3.11 5.71 6.15 6.92

PER Industry (X) 4.10 20.86 13.10 13.74 15.89
PBV (X) 0.14 0.15 0.71 1.15 1.29


Public Accountant : Y. Santosa
Receivables 13,366,524 9,064,387 9,170,460 11,814,181 17,278,168

10,831,234 12,687,216 13,137,210 1,286,857 16,204,459 110,000
Inventories
Current Assets 20,612,745 30,400,963 29,384,250 42,613,188 61,367,147
82,500
Fixed Assets 54,651,159 62,844,189 54,328,802 2,322,114 58,408,936
Other Assets 85,846 1,476,488 1,113,468 591,885 538,579
55,000
Total Assets 81,073,679 103,162,005 92,423,557 103,428,629 130,229,235
Growth (%) 27.24% -10.41% 11.91% 25.91% 27,500

Growth (%) 26.59% -15.72% 9.71% 25.50%
Paid up Capital 5,470,983 5,470,983 5,470,983 5,470,983 5,470,983 55,133

Par Value 1,000 1,000 1,000 1,000 1,000 38,447 37,881
43,886

Total Equity 29,950,514 38,446,703 37,881,270 43,592,682 55,132,931
32,639
Growth (%) 28.37% -1.47% 15.08% 26.47% 21,392
Total Revenues 32,769,320 41,542,013 36,552,275 42,377,169 37,434,557

Growth (%) 26.77% -12.01% 15.94%
-1,103
2014 2015 2016 2017 Sep-18
Cost of Revenues 27,126,050 32,601,419 28,742,385 30,136,158 23,699,847

Gross Profit 5,643,270 8,940,594 7,809,890 12,241,011 13,734,710
Expenses (Income) 3,253,357 4,145,688 3,954,215 4,075,807 3,230,367
Operating Profit 2,389,913 4,794,906 3,855,675 8,165,203 10,504,343 41,542 42,377
Growth (%) 100.63% -19.59% 111.77% 36,552 37,435

42,377
32,769
33,732
Other Income (Expenses) -819,147 -1,425,686 -1,903,290 -1,972,589 -1,174,644

Tax 1,915 104,416 -771,831 593,470 1,622,334

Growth (%) 108.10% -16.56% 105.53%

7,797
Current Ratio (%) 138.11 140.17 159.83 209.28 235.42
7,707
Dividend (Rp) 35.00 25.00 30.00 100.00 - 7,707
EPS (Rp) 286.73 596.84 497.82 1,023.24 1,408.51

5,599
BV (Rp) 5,474.43 7,027.38 6,924.03 7,967.98 10,077.34 6,135
DAR (X) 0.63 0.63 0.59 0.58 0.58

DER(X) 1.71 1.68 1.44 1.37 1.36
4,563
3,265
ROA (%) 1.94 3.16 2.95 5.41 5.92 2,724
2,990
ROE (%) 5.24 8.49 7.19 12.84 13.98 1,569

GPM (%) 17.22 21.52 21.37 28.89 36.69 1,418
OPM (%) 7.29 11.54 10.55 19.27 28.06

NPM (%) 4.79 7.86 7.45 13.21 20.59
-154
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 12.21 4.19 6.03 9.77 -
Yield (%) 3.35 2.62 3.14 1.85 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

INDOCEMENT TUNGGAL
PRAKARSA TBK.
Company Profile
PT Indocement Tunggal Prakarsa Tbk. was incorporated on January 16th, 1985. The Company’s history
cannot be separated from the establishment of PT Distinct Indonesia Cement Enterprise (DICE) in 1975
that managed a cement plant in Citeureup, West Java that had an annual installed production capacity
of 500,000 tons.
The scope of its activities comprises, among others, cement and building materials manufacturing,
mining, construction and trading. Currently, the company and subsidiaries are involved in several
businesses consisting of the manufacture and sale of cement (as core business) and ready mix concrete,
aggregates and trass quarrying.
the Company currently has 13 factories with a total annual production capacity of 24.9 million tons of
cement. Ten factories are located at Citeureup Factory, Bogor, West Java; two factories at the Palimanan
Factory, Cirebon, West Java; and one factory in Tarjun Factory, Kotabaru, South Kalimantan. The
manufacture of ready-mix concrete, cement distribution, and aggregates quarrying comprise the
operations of most of the Company’s Subsidiaries.
The Company has direct ownership in subsidiaries:

 PT Dian Abadi Perkasa, a cement distributor,
 PT Indomix Perkasa, a ready-mix concrete manufacturer,
 PT Sari Bhakti Sejati, an investment company,
 PT Makmur Abadi Perkasa Mandiri, an investment company,
 PT Lentera Abadi Sejahtera, an investment company.
At the end of 2018, for the third time in a row, the factory complexes of PT Indocement Tunggal Prakarsa
Tbk. ("Indocement") was awarded the Level 5 Green Industry from the Ministry of Industry and PT
Indocement Tunggal Prakarsa Tbk. was Rewarded Indonesia Very Good Public Company 2018, Basic
Industry & Chemical Categor, etc.
The company’s head office is located at Wisma Indocement 8th Floor, Jl. Jend Sudirman Kav. 70-71
Jakarta, while the factories are located in Citeureup - West Java, Palimanan - West Java, and Tarjun -
South Kalimantan. HeidelbergCement AG is the ultimate parent company of the Group. The Group had a
total of 5,816 permanent employees as of September 30th, 2018.
February 2019
Disclaimer:
or of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the publication it
should not be by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or otherwise responsible
in anyway for any advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.

INTP Indocement Tunggal Prakarsa Tbk.

Industry Sub Sector : Cement (31) Market Capitalization : 70,771,679,413,275
18 | 70.8T | 0.95% | 56.80%
45 | 10.7T | 0.52% | 72.09%

Established Date : 16-Jan-1985 1. Birchwood Omnia Limited 1,877,480,863 : 51.00%
Underwriter IPO :
PT (Persero) Danareksa DIVIDEND ANNOUNCEMENT
PT Merchant Investment Corporation Bonus Cash Recording Payment
F/I
PT Multicor Bank Pembangunan Indonesia Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1991 150.00 13-Feb-91 14-Feb-91 21-Feb-91 15-Mar-91 I
PT Raya Saham Registra 1991 175.00 27-May-92 29-May-92 5-Jun-92 18-Jun-92 F
1992 250.00 1-Jul-93 2-Jul-93 9-Jul-93 10-Aug-93 F
1. Kevin Gerard Gluskie 1993 1:1 12-Aug-94 15-Aug-94 23-Aug-94 23-Sep-94 BS
2. Albert Scheuer 1994 120.00 19-Jul-95 20-Jul-95 28-Jul-95 25-Aug-95 F
3. Bernhard Schelfele 1995 40.00 23-Aug-95 24-Aug-95 1-Sep-95 29-Sep-95 I
4. Lorenz Naeger 1995 120.00 12-Jul-96 15-Jul-96 23-Jul-96 21-Aug-96 F
5. Simon Subrata *) 1996 70.00 11-Jul-97 14-Jul-97 23-Jul-97 21-Aug-97 F
6. Tedy Djuhar *) 1996 10:3 8-Sep-97 9-Sep-97 17-Sep-97 30-Sep-97 I
2006 30.00 27-Jun-07 28-Jun-07 2-Jul-07 16-Jul-07 I
1. Christian Kartawijaya 2008 150.00 2-Jun-09 3-Jun-09 5-Jun-09 19-Jun-09 F
2. Benny Setiawan Santoso 2009 225.00 21-Jun-10 22-Jun-10 24-Jun-10 7-Jul-10 F
3. David Jonathan Clarke 2010 263.00 17-Jun-11 20-Jun-11 22-Jun-11 7-Jul-11 F
4. Franciscus Wellirang 2011 293.00 18-Jun-12 19-Jun-12 21-Jun-12 5-Jul-12 F
5. Hasan Imer 2012 450.00 20-Jun-13 21-Jun-13 25-Jun-13 9-Jul-13 F
6. Juan Francisco Defalque 2013 900.00 19-Jun-14 20-Jun-14 24-Jun-14 8-Jul-14 F
7. Oey Marcos 2014 1,350.00 21-May-15 22-May-15 26-May-15 17-Jun-15 F
8. Ramakanta Bhattacharjee 2015 415.00 17-May-16 18-May-16 20-May-16 10-Jun-16 F
9. Troy Dartojo Soputro 2016 929.00 30-May-17 31-May-17 5-Jun-17 22-Jun-17 F
2017 700.00 30-May-18 31-May-18 5-Jun-18 22-Jun-18 F
AUDIT COMMITTEE
1. Simon Subrata ISSUED HISTORY
2. Jusuf Halim Listing Trading
3. Lindawati Gani No. Type of Listing Shares Date Date
1. First Issue 89,832,150 5-Dec-89 5-Dec-89
CORPORATE SECRETARY 2. Koperasi 6,000,000 T: 26-Jun-92 : 31-Dec-99
Oey Marcos 3. Founder Shares 946,119 T: 7-Mar-94 : 2-Sep-94
4. Convertible Bond 8,555,640 T: 7-Mar-94 : 10-Nov-94
HEAD OFFICE 5. Bonus Shares 599,790,020 T: 12-Sep-94 : 26-Sep-94
Wisma Indocement, 13rd Floor 6. Company Listing 502,102,731 12-Sep-94 12-Sep-94
Jl. Jend. Sudirman Kav.70-71 7. Stock Split 1,207,226,660 2-Sep-96 2-Sep-96
Jakarta 12910 8. Additional Listing 69,863,127 9-Jan-01 9-Jan-01
Phone : (021) 251-2121, 252-2121,570-3817 9. Right Issue 1,196,907,072 24-Apr-01 24-Apr-01
Fax : (021) 570-1693 10. Warrant 8,180 12-May-03 12-May-03
Email : corpsec@indocement.co.id
investor.relations@indocement.co.id


TRADING ACTIVITIES
Indocement Tunggal Prakarsa Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
26,000 160 Jan-15 25,500 21,325 23,000 59,898 112,706 2,596,245 21
Feb-15 24,325 22,650 24,050 38,270 51,124 1,209,902 19
22,750 140 Mar-15 24,300 20,475 21,925 53,486 87,898 1,969,041 22
Apr-15 23,700 20,700 21,000 39,145 67,087 1,500,898 21
May-15 23,425 21,100 22,400 41,944 185,783 4,180,361 19
19,500 120
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
16,250 100
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
13,000 80
Oct-15 21,025 16,100 18,000 71,016 86,080 1,608,882 21
Nov-15 21,400 17,900 18,700 51,050 54,994 1,085,736 21
9,750 60 Dec-15 22,800 19,025 22,325 37,676 33,403 693,474 19
6,500 40 Jan-16 22,425 18,075 19,700 63,144 74,904 1,483,571 20

Feb-16 20,300 18,450 20,025 49,336 64,737 1,263,594 20
3,250 20 Mar-16 20,850 19,250 19,725 43,398 63,350 1,282,258 21
Apr-16 20,800 19,550 19,725 27,722 38,762 774,930 21
May-16 19,550 15,525 16,650 56,302 74,033 1,266,067 20
Jun-16 16,875 15,550 16,875 38,912 41,403 674,323 22
Jul-16 17,300 16,350 17,075 40,954 185,206 2,938,432 16
Aug-16 19,400 17,000 17,700 46,606 328,271 5,603,734 22
Sep-16 18,400 16,900 17,350 38,832 41,799 737,059 21
80%
68.3% Jan-17 16,000 14,600 15,025 24,266 23,885 368,934 21

60% Feb-17 16,100 15,100 15,150 24,219 24,366 378,430 19
Mar-17 16,875 15,175 16,600 32,509 53,083 845,082 22
40% Apr-17 17,200 15,975 16,950 20,014 36,865 610,964 17
May-17 19,000 15,800 18,500 47,567 85,381 1,523,427 20
24.6% Jun-17 18,775 17,500 18,450 35,966 46,831 852,149 15
20%
Jul-17 18,975 17,150 17,500 33,868 47,917 863,926 21
Aug-17 20,000 17,200 19,800 30,432 56,884 1,086,888 22
-
Sep-17 19,650 18,325 18,900 27,230 32,263 612,834 19
Oct-17 23,500 18,900 22,450 40,779 46,483 921,088 22
-20%
-22.5% Nov-17 23,950 18,375 18,425 46,188 45,225 925,876 22
Dec-17 22,000 18,375 21,950 42,780 43,774 872,279 18
-40%
Jan-18 23,400 20,725 21,800 49,107 33,837 753,002 22

-60% Feb-18 22,725 19,875 21,975 40,068 32,639 695,297 19
Mar-18 21,975 15,850 16,000 50,394 48,623 908,210 21
-80% Apr-18 19,875 15,550 17,725 48,725 56,878 1,009,561 21
Jun-18 17,875 12,875 13,650 43,985 52,413 797,378 13
Jul-18 15,175 12,500 14,125 43,687 52,803 728,610 22
Volume (Million Sh.) 991 1,111 543 600 55 Sep-18 18,500 15,500 18,500 44,276 58,922 973,959 19
Days 244 246 238 240 22 Dec-18 20,775 17,925 18,450 47,374 41,064 807,554 18
Price (Rupiah) Jan-19 20,200 17,000 19,225 59,501 54,961 1,014,857 22

High 25,500 22,425 23,950 23,400 20,200
Low 16,000 14,275 14,600 12,500 17,000
Close 22,325 15,400 21,950 18,450 19,225
Close* 22,325 15,400 21,950 18,450 19,225
PER (X) 18.86 13.51 43.45 82.47 85.93

PER Industry (X) 4.10 20.86 13.10 13.74 15.89
PBV (X) 3.44 2.23 3.29 3.01 3.13


Receivables 2,670,993 2,534,690 2,616,979 2,503,780 3,142,850

1,665,546 1,521,197 1,780,410 1,768,603 1,845,875 25,000
Inventories
Current Assets 16,086,773 13,133,854 14,424,622 12,883,074 11,170,522
18,750
Fixed Assets 12,143,632 13,813,892 14,643,695 14,979,453 14,434,787
Other Assets 421,823 398,265 453,899 456,247 580,456
12,500
Total Assets 28,884,973 27,638,360 30,150,580 28,863,676 26,634,347
Growth (%) -4.32% 9.09% -4.27% -7.72% 6,250

Long Term Liabilities 839,613 1,084,667 824,135 828,145 784,671 2014 2015 2016 2017 Sep-18
Growth (%) -7.99% 6.35% 7.36% -6.33%
1,840,616 1,840,616 1,840,616 1,840,616 1,840,616 24,785 24,557
Paid up Capital 23,866
22,600
26,139

Par Value 500 500 500 500 500
20,806

Total Equity 24,784,801 23,865,950 26,138,703 24,556,507 22,599,659
15,474
Growth (%) -3.71% 9.52% -6.05% -7.97% 10,142
Total Revenues 19,996,264 17,798,055 15,361,894 14,431,211 10,772,857

Growth (%) -10.99% -13.69% -6.06%
-523
2014 2015 2016 2017 Sep-18
Cost of Revenues 10,909,595 9,888,919 9,030,433 9,423,490 7,894,353

Gross Profit 9,086,669 7,909,136 6,331,461 5,007,721 2,878,504
Expenses (Income) 3,111,676 2,852,206 2,686,866 3,132,876 2,351,827
Operating Profit 5,974,993 5,056,930 3,644,595 1,874,845 526,677 19,996
-15.37% -27.93% -48.56% 17,798

Growth (%)
19,996
15,362
15,917
14,431
Other Income (Expenses) 814,609 588,181 501,784 413,144 234,776
Income before Tax 6,789,602 5,645,111 4,146,379 2,287,989 761,453 11,838
10,773
Tax 1,515,593 1,288,450 276,060 428,171 143,762

Profit for the period 5,274,009 4,356,661 3,870,319 1,859,818 617,691 7,759
Growth (%) -17.39% -11.16% -51.95%

3,679
Period Attributable 5,270,872 4,356,661 3,870,319 1,859,818 617,691 -400
Comprehensive Income 5,153,776 4,258,600 3,800,464 1,837,668 620,014 2014 2015 2016 2017 Sep-18
Current Ratio (%) 493.37 488.66 452.50 370.31 343.71
5,274
Dividend (Rp) 1,350.00 415.00 929.00 700.00 - 5,274
EPS (Rp) 1,431.82 1,183.48 1,051.37 505.22 167.79 4,357

3,870
BV (Rp) 6,732.75 6,483.14 7,100.53 6,670.73 6,139.16 4,198
DAR (X) 0.14 0.14 0.13 0.15 0.15

DER(X) 0.17 0.16 0.15 0.18 0.18
3,122
ROA (%) 18.26 15.76 12.84 6.44 2.32 2,046

1,860
ROE (%) 21.28 18.25 14.81 7.57 2.73

GPM (%) 45.44 44.44 41.22 34.70 26.72 970 618
OPM (%) 29.88 28.41 23.72 12.99 4.89

NPM (%) 26.37 24.48 25.19 12.89 5.73
-105
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 94.29 35.07 88.36 138.55 -
Yield (%) 5.40 1.86 6.03 3.19 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

INDO TAMBANGRAYA MEGAH TBK.
Company Profile
Established in 1987, PT Indo Tambangraya Megah Tbk. is a renowned Indonesian coal supplier for the world
energy market. The company strives to set the highest standard in corporate governance as well as
environmental, health and work safety compliance. All activities are carried out in close cooperation with
the local societies and other stakeholders. Since its establishment, the Company has been recognized as a
leading producer of coal and has built a diversified customer base. The scope of ITM business includes coal
mining operations, processing and logistics which are integrated in Indonesia. The company owns the
majority of shares in seven subsidiaries and operates six mining concessions in the island of Kalimantan,
covering East, Central and South Kalimantan. ITM also owns and operates Terminal Batubara Bontang
(Bontang Coal Terminal/BoCT), three loading ports and Pembangkit Listrik Bontang [Bontang Electricity
Generator].
The Company has direct ownership in PT Indominco Mandiri, PT Trubaindo Coal Mining, PT Jorong Barutama
Greston, PT Kitadin, PT Bharinto Ekatama, PT ITM Indonesia, PT Tambang Raya Usaha Tama, PT ITM
Batubara Utama, and PT ITM Energi Utama, PT ITM Banpu Power, PT Tepian Indah Sukses, and PT GasEmas.
In 2018 the company received awards: CG Award in the category of Best Non-Financial Listed Company
based on ASEAN CG Scorecard at the 10th Indonesia Institute for Corporate Directorship (IICD) Corporate
Governance Conference & Award at Le Meredien Hotel Jakarta, Gold Rank in the Asia Sustainability Report
Rating 2018 in the 3rd Year Sustainability Practitioner Conference at Novotel Bandar Lampung organized by
the National Center for Sustainability Reporting (NCSR) in collaboration with the Institute of Certified
Sustainability Practitioners (ICSP), etc.
The company’s head Office is located at Pondok Indah Office Tower III, 3rd Floor Jalan Sultan Iskandar Muda
Jakarta 12310. As of September 30th, 2018, the Company and subsidiaries had 2,849 permanent employees.
February 2019
Disclaimer:
or of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the publication it should
not be by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or otherwise responsible in anyway
for any advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.

ITMG Indo Tambangraya Megah Tbk.

49 | 25.8T | 0.35% | 73.42%
41 | 12.0T | 0.58% | 69.95%

Established Date : 02-Sep-1987 1. Banpu Minerals (Singapore) Private Limited 736,071,000 : 65.14%
Listing Date : 18-Dec-2007 (IPO Price: 14,000) 2. Public (<5%) 393,854,000 : 34.86%
Underwriter IPO :
PT UBS Securities Indonesia DIVIDEND ANNOUNCEMENT
F/I
2007 155.00 6-May-08 7-May-08 9-May-08 23-May-08 F
BOARD OF COMMISSIONERS 2008 344.00 8-Oct-08 9-Oct-08 13-Oct-08 22-Nov-08 I
1. Djisman S. Simandjuntak *) 2008 295.00 1-Dec-08 2-Dec-08 4-Dec-08 19-Dec-08 I
2. Djoko Wintoro *) 2008 706.00 11-May-09 12-May-09 14-May-09 28-May-09 F
3. Fredi Chandra 2009 678.00 20-Oct-09 21-Oct-09 23-Oct-09 1-Nov-09 I
4. Somruedee Chaimongkol 2009 1,286.00 29-Apr-10 30-Apr-10 4-May-10 19-May-10 F
5. Somsak Sirhinamsuwan 2010 795.00 28-Sep-10 29-Sep-10 1-Oct-10 15-Oct-10 I
*) Independent Commissioners 2010 407.00 19-Apr-11 20-Apr-11 25-Apr-11 6-May-11 F
2011 1,168.00 28-Sep-11 29-Sep-11 3-Oct-11 14-Oct-11 I
BOARD OF DIRECTORS 2012 1,666.00 29-Oct-12 30-Oct-12 1-Nov-12 14-Nov-12 I
1. Kirana Limpaphayom 2012 1,464.00 26-Apr-13 29-Apr-13 1-May-13 15-May-13 F
2. A.H. Bramantya Putra 2013 1,014.00 29-Oct-13 30-Oct-13 1-Nov-13 15-Nov-13 I
3. Ignatius Wurwanto 2013 975.00 28-Apr-14 29-Apr-14 2-May-14 14-May-14 F
4. Jusnan Ruslan 2014 1,100.00 29-Oct-14 30-Oct-14 3-Nov-14 14-Nov-14 I
5. Mulianto 2014 645.00 8-Apr-15 9-Apr-15 13-Apr-15 24-Apr-15 I
6. Padungsak Thanakij 2015 752.00 8-Oct-15 9-Oct-15 13-Oct-15 26-Oct-15 I
7. Stephanus Demo Wamin 2015 60.56 4-Apr-16 5-Apr-16 7-Apr-16 21-Apr-16 F
8. Yulius Kurniawan Gozali 2016 434.32 7-Nov-16 8-Nov-16 10-Nov-16 24-Nov-16 I
2017 434.32 5-Apr-17 6-Apr-17 10-Apr-17 21-Apr-17 I
AUDIT COMMITTEE 2017 1,300.00 3-Nov-17 6-Nov-17 8-Nov-17 21-Nov-17 I
1. Djoko Wintoro 2017 1,840.00 2-Apr-18 3-Apr-18 5-Apr-18 20-Apr-18 F
2. Rudi Riady 2018 1,420.00 30-Oct-18 31-Oct-18 2-Nov-18 16-Nov-18 I
3. Sidharta Utama
ISSUED HISTORY
Monika Ida Krisnamurti No. Type of Listing Shares Date Date
1. First Issue 225,985,000 18-Dec-07 18-Dec-07
HEAD OFFICE 2. Company Listing 903,940,000 18-Dec-07 18-Aug-08
Pondok Indah Office Tower III, 3rd Floor
Jl. Sultan Iskandar Muda, Pondok Indah Kav. V-TA
Jakarta Selatan 12310
Phone : (021) 2932 8100
Fax : (021) 2932 7999
Email : corsecitmg@banpuindo.co.id


TRADING ACTIVITIES
Indo Tambangraya Megah Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
32,000 40.0 Jan-15 16,750 14,275 16,750 48,405 38,476 585,918 21
Feb-15 18,600 16,075 16,900 32,776 39,761 684,377 19
28,000 35.0 Mar-15 18,000 16,275 16,900 46,182 36,351 626,636 22
Apr-15 17,300 12,600 12,600 46,877 37,151 584,571 21
May-15 15,550 12,525 13,500 46,615 78,935 1,108,530 19
24,000 30.0
Jun-15 13,850 12,600 12,850 48,533 41,585 549,214 21
Jul-15 13,175 9,525 9,725 26,690 21,821 245,713 19
20,000 25.0
Aug-15 10,850 7,975 9,350 30,749 29,449 277,187 20
Sep-15 9,900 8,100 9,875 28,666 27,087 245,130 21
16,000 20.0
Oct-15 11,400 8,400 8,475 39,120 41,867 440,725 21
Nov-15 8,925 6,750 6,750 24,220 24,658 202,767 21
12,000 15.0 Dec-15 6,850 5,525 5,725 24,270 29,270 192,832 19
8,000 10.0 Jan-16 5,950 4,690 4,810 23,362 44,572 229,401 20

Feb-16 7,750 4,675 6,750 29,385 53,843 305,694 20
4,000 5.0 Mar-16 7,475 6,475 6,625 42,714 82,170 566,369 21
Apr-16 8,025 6,525 7,800 28,232 50,523 361,480 21
May-16 9,000 7,650 8,750 17,522 27,244 225,659 20
Jun-16 9,500 8,075 9,375 19,616 27,660 242,970 22
Jul-16 12,575 9,175 12,575 24,683 26,783 302,830 16
Aug-16 13,000 10,400 11,375 23,973 23,258 279,616 22
Sep-16 11,650 9,850 10,900 18,755 18,052 193,595 21
Mining Index Nov-16 18,350 14,400 16,000 63,957 73,011 1,164,236 22
100%
Jan-17 17,500 14,200 15,000 34,308 23,783 373,144 21
75% Feb-17 17,675 14,875 17,600 31,252 32,264 520,837 19
Mar-17 20,500 16,150 20,200 48,027 47,736 870,645 22
50% Apr-17 22,300 18,450 19,125 49,084 52,238 1,054,825 17
43.4%
40.5% May-17 19,450 14,500 15,200 55,606 54,396 897,297 20
25% Jun-17 18,400 15,200 17,300 36,664 33,166 564,955 15
24.6%
Jul-17 21,900 17,050 20,000 42,968 33,054 647,624 21
Aug-17 21,125 18,550 19,450 44,379 37,497 755,227 22
-
Sep-17 20,975 18,250 20,250 37,823 29,370 572,233 19
Oct-17 23,175 19,425 22,200 38,529 35,106 747,961 22
-25%
Nov-17 22,950 19,300 21,150 41,388 25,755 540,972 22
Dec-17 21,600 20,000 20,700 24,723 19,228 399,902 18
-50%
Jan-18 31,575 19,850 30,300 50,174 43,055 1,103,156 22

-75% Feb-18 32,200 28,000 30,800 46,358 27,035 810,820 19
Mar-18 31,200 25,725 28,500 65,843 47,443 1,324,672 21
-100% Apr-18 29,225 23,100 23,650 50,418 27,414 729,580 21
Jun-18 28,500 21,850 22,375 55,713 38,556 953,529 13
Jul-18 30,500 21,000 28,475 72,884 50,773 1,283,877 22
Volume (Million Sh.) 446 531 424 478 45 Sep-18 28,300 25,125 25,850 54,477 27,024 705,649 19
Days 244 246 238 240 22 Dec-18 21,900 19,525 20,250 52,274 36,564 753,636 18
Price (Rupiah) Jan-19 23,575 19,750 22,800 67,716 44,619 978,651 22

High 18,600 18,350 23,175 32,200 23,575
Low 5,525 4,675 14,200 19,325 19,750
Close 5,725 16,875 20,700 20,250 22,800
Close* 5,725 16,875 20,700 20,250 22,800
PER (X) 7.43 15.81 6.83 5.76 6.49

PER Industry (X) 0.60 -4.41 6.26 -1.03 0.14
PBV (X) 0.56 1.67 1.80 1.53 1.72


Receivables 2,311,492 1,733,092 1,768,912 2,640,343 3,614,639

1,863,634 1,619,029 832,911 1,472,383 1,720,672 18,000
Inventories
Current Assets 7,082,961 7,066,914 7,242,058 10,797,702 12,432,677
13,500
Fixed Assets 3,552,816 3,511,870 3,006,923 3,014,931 3,284,380
Other Assets 135,142 102,407 167,372 181,652 251,419
9,000
Total Assets 16,297,303 16,254,339 16,254,765 18,407,166 21,995,060
Growth (%) -0.26% 0.00% 13.24% 19.49% 4,500

Long Term Liabilities 767,351 820,219 853,549 989,221 1,050,718 2014 2015 2016 2017 Sep-18
Growth (%) -10.45% -14.34% 33.57% 29.63%
Paid up Capital 564,963 564,963 564,963 564,963 564,963
12,981
14,961

11,512
11,001
Par Value 500 500 500 500 500
11,909

Total Equity 11,001,134 11,511,879 12,192,229 12,980,867 14,960,933
8,857
Growth (%) 4.64% 5.91% 6.47% 15.25% 5,805
Total Revenues 24,158,858 21,924,308 18,373,703 22,889,685 21,127,386

Growth (%) -9.25% -16.19% 24.58%
-299
2014 2015 2016 2017 Sep-18
Cost of Revenues 19,073,516 17,093,221 13,930,431 16,041,875 14,725,100

Gross Profit 5,085,342 4,831,086 4,443,272 6,847,810 6,402,287
Expenses (Income) 1,816,452 2,907,568 1,863,681 1,942,688 2,205,581
22,890
21,924
Growth (%) 21,127
24,159
18,374
19,230

Tax 770 1,053,020 823,385 1,481,501 1,253,140

Profit for the period 3,268,120 870,498 1,756,206 3,423,620 2,943,566 9,374
Growth (%) -73.36% 101.75% 94.94%

4,445
Period Attributable 3,268,120 870,498 1,756,206 3,422,333 2,976,932 -483
Comprehensive Income 3,176,840 889,368 1,795,815 3,382,976 2,851,991 2014 2015 2016 2017 Sep-18
Comprehensive Attributable 3,176,840 889,368 1,795,815 3,381,689 2,879,267
Current Ratio (%) 156.40 180.18 225.68 243.35 207.79
3,424
1,745.00 812.56 434.32 3,574.32 1,420.00 3,268
Dividend (Rp)
2,944
3,424
EPS (Rp) 2,892.33 770.40 1,554.27 3,028.81 2,634.63

BV (Rp) 9,736.16 10,188.18 10,790.30 11,488.26 13,240.64 2,725
DAR (X) 0.32 0.29 0.25 0.29 0.32

1,756
DER(X) 0.48 0.41 0.33 0.42 0.47
2,027
ROA (%) 20.05 5.36 10.80 18.60 13.38

870
1,328
ROE (%) 29.71 7.56 14.40 26.37 19.68

GPM (%) 21.05 22.04 24.18 29.92 30.30 630
OPM (%) - - - - -
NPM (%) 13.53 3.97 9.56 14.96 13.93
-68
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 60.33 105.47 27.94 118.01 53.90
Yield (%) 11.35 14.19 2.57 17.27 5.49
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

JASA MARGA (PERSERO) TBK.
Company Profile
PT Jasa Marga (Persero) Tbk. was established under the Government Regulation of the Republic of Indonesia
No. 4 Year 1978 regarding the State Capital Investment for the establishment of a State-Owned Company
(Persero) in the area of management, maintenance and development of toll roads, and the detailed
management regulations. The Company started its commercial operations in 1978.
Jasa Marga is a state owned company with the line business of planning, constructing, operating and
maintaining toll roads along with developing and maximizing the use of land in toll road areas and other
related businesses. Driven with the vision to be the largest, trusted, and sustainable national toll company,
Jasa Marga’s business characteristics are defensive and resistant to fluctuated condition of global economy.
Adding new toll road concessions is Jasa Marga’s main strategic plan. Currently, Jasa Marga has added 20
new toll road concessions with the total length of 680 km, through its subsidiaries, in which Jasa Marga is
the major shareholder. As total, Jasa Marga will manage 1497 KM of concession by the end of 2019.
Going forward, the Company’s business prospect will be robust as it is supported by new concessions with
sound financial feasibility that is integrated with existing concession portfolio, strong and trusted financial
structure, as well as assets utilization in prospective businesses, which, in turn will support the Company’s
sustainable growth.
In 2018 PT Jasa Marga (Persero) Tbk. was awarded with 2nd Best of The Best Human Capital of The Year
2018, Asean Outsanding Enginering Achievement Award 2018, Best Partnership Program and Community
Development in Transportation and Warehousing Category, Gold Winner Category Program Corporate PR in
Public Relations Indonesia Award 2018, The Most Popular Company Transportation Category, Top 100 Most
Valuable Idonesian Brands 2018, TOP Digital Transformation Readiness 2018, TOP IT Implemantion on Toll
Industry Sector 2018, Transport Deal of the Year 2018, TOP Leader on IT Leadership 2018, The Best Of The
Best 50 Best Companies in the 8th Forbes Indonesia, Etc.
The head office is located in Plaza Tol Taman Mini Indonesia Indah Jakarta 13550. The Company and its
subsidiaries had 7,327 permanent employees as of September 30th, 2018.
February 2019
Disclaimer:
or of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the publication it
should not be by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or otherwise responsible
in anyway for any advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.

JSMR Jasa Marga (Persero) Tbk.

Industry Sub Sector : Toll Road, Airport, Harbor And Allied Products (72) Market Capitalization : 35,708,726,304,000
34 | 35.7T | 0.48% | 67.39%
61 | 7.70T | 0.37% | 79.22%

Underwriter IPO :
PT Danareksa Sekuritas (Affilliated) DIVIDEND ANNOUNCEMENT
PT Bahana Securities (Affilliated) Bonus Cash Recording Payment
F/I
PT Mandiri Sekuritas (Affiliated) Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 2007 14.31 21-May-08 22-May-08 26-May-08 29-May-08 F
2009 87.91 28-Jun-10 29-Jun-10 1-Jul-10 15-Jul-10 F
1. Sapto Amal Damandari *) 2011 78.88 4-Jun-12 5-Jun-12 7-Jun-12 21-Jun-12 F
2. Agus Suharyono 2012 94.24 29-May-13 30-May-13 3-Jun-13 18-Jun-13 F
3. Anita Firmanti Eko Susetyowati 2013 78.61 4-Apr-14 7-Apr-14 10-Apr-14 23-Apr-14 F
4. Muhammad Sapta Murti 2015 43.13 6-Apr-16 7-Apr-16 11-Apr-16 29-Apr-16 F
5. Sugihardjo 2016 78.09 22-Mar-17 23-Mar-17 27-Mar-17 13-Apr-17 F
6. Vincentius Sonny Loho *) 2017 60.63 17-Apr-18 18-Apr-18 20-Apr-18 11-May-18 F
ISSUED HISTORY
1. Desi Arryani No. Type of Listing Shares Date Date
2. Adrian Priohutomo 1. First Issue 2,040,000,000 12-Nov-07 12-Nov-07
3. Alex Denni 2. Negara RI (Series A) 1 12-Nov-07 -
4. Donny Arsal 3. Company Listing 4,759,999,999 12-Nov-07 10-May-08
5. Mohammad Sofyan 4. Right Issue 8,326,610 7-Dec-16 7-Dec-16
6. Subakti Syukur 5. Right Issue 12,081,825 8-Dec-16 8-Dec-16
6. Right Issue 331,269,578 9-Dec-16 9-Dec-16
AUDIT COMMITTEE 7. Right Issue 64,014,959 13-Dec-16 13-Dec-16
1. Vicentius Sony Loho 8. Right Issue 34,740,139 14-Dec-16 14-Dec-16
2. Agita Widjajanto 9. Right Issue 7,438,089 16-Dec-16 16-Dec-16
3. Anita Firmanti Eko Susetyowati
4. Sugiharjo
5. Teguh Indra Prasetyo
CORPORATE SECRETARY
Mohamad Agus Setiawan
HEAD OFFICE
Tol Taman Mini Indonesia Indah Plaza
Jakarta - 13550
Phone : (021) 841-3630; 841-3526
Fax : (021) 841-3540
Email : jasmar@jasamarga.com
investor.relations@jasamarga.co.id
agus.setiawan@jasamarga.co.id
Formula


TRADING ACTIVITIES
Jasa Marga (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
7,200 64.0 Jan-15 7,250 6,925 7,200 27,993 127,295 896,176 21
Feb-15 7,225 6,900 7,100 29,950 129,358 914,804 19
6,300 56.0 Mar-15 7,200 6,975 7,200 30,454 144,110 1,022,917 22
Apr-15 7,200 5,950 6,200 35,427 198,482 1,328,552 21
May-15 6,600 6,000 6,475 31,326 126,120 799,480 19
5,400 48.0
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
4,500 40.0
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
3,600 32.0
Oct-15 5,625 4,750 4,840 51,457 194,115 1,001,768 21
Nov-15 5,200 4,500 4,500 42,147 166,593 812,075 21
2,700 24.0 Dec-15 5,250 4,575 5,225 48,841 129,847 631,845 19
1,800 16.0 Jan-16 6,075 4,995 5,750 38,605 209,808 1,185,959 20

Feb-16 6,250 5,200 5,300 52,098 236,731 1,357,849 20
900 8.0 Mar-16 5,700 5,200 5,400 46,990 151,782 828,299 21
Apr-16 5,575 5,250 5,450 29,037 77,850 418,771 21
May-16 5,525 5,200 5,400 29,713 72,265 386,407 20
Jun-16 5,575 4,990 5,275 38,948 100,784 533,131 22
Jul-16 5,650 5,125 5,325 32,745 110,641 599,531 16
Aug-16 5,675 4,810 4,860 54,852 250,495 1,298,317 22
Sep-16 4,910 4,550 4,600 62,806 270,766 1,285,309 21
Infrastructure, Utilities and Transportation Index Nov-16 4,750 3,900 4,150 68,921 274,572 1,174,674 22
30%
24.6% Jan-17 4,390 4,150 4,220 39,547 102,208 433,704 21
20% Feb-17 4,990 4,210 4,780 62,258 236,304 1,099,374 19
Mar-17 4,820 4,430 4,620 50,791 178,322 822,384 22
10% Apr-17 4,740 4,400 4,640 37,316 142,206 654,218 17
May-17 5,250 4,550 5,250 43,430 226,129 1,110,351 20
- 1.2% Jun-17 5,450 4,980 5,350 23,197 141,013 732,293 15
Jul-17 5,850 5,150 5,850 37,302 157,391 849,540 21
Aug-17 5,875 5,275 5,825 36,768 152,504 845,204 22
-10%
Sep-17 6,050 5,525 5,600 34,597 150,827 879,618 19
Oct-17 6,600 5,625 6,500 36,807 252,664 1,553,162 22
-20%
Nov-17 6,775 6,200 6,375 38,593 205,028 1,336,196 22
Dec-17 6,550 6,100 6,400 38,015 200,198 1,262,590 18
-30% -30.5%
Jan-18 6,600 5,550 5,700 66,716 264,506 1,600,964 22
-40% Feb-18 5,850 5,225 5,350 50,268 186,586 1,035,437 19
Mar-18 5,450 4,460 4,580 46,953 161,916 805,773 21
-50% Apr-18 4,750 4,180 4,370 38,866 112,981 516,113 21
Jun-18 4,750 4,120 4,180 40,678 90,957 409,914 13
Jul-18 5,275 4,000 4,690 56,199 140,620 676,845 22
Days 244 246 238 240 22 Dec-18 4,680 4,180 4,280 59,625 203,475 911,094 18
Price (Rupiah) Jan-19 5,150 4,280 4,920 70,162 203,352 988,777 22

High 7,250 6,250 6,775 6,600 5,150
Low 4,500 3,900 4,150 3,800 4,280
Close 5,225 4,320 6,400 4,280 4,920
Close* 5,213 4,320 6,400 4,280 4,920
PER (X) 24.51 18.04 23.37 15.48 17.79

PER Industry (X) 9.49 8.16 16.02 9.50 10.05
PBV (X) 2.87 2.26 2.53 1.65 1.89


Receivables 48,089 164,374 8,278,539 11,547,364 10,773,166

21,960 20,154 86,975 134,245 309,889 70,000
Inventories
Current Assets 3,545,784 3,729,047 12,965,884 18,987,065 15,233,377
52,500
Fixed Assets 701,685 913,843 884,666 1,036 706,810
Other Assets 124,319 1,007,135 882,977 - 512,114
35,000
Total Assets 31,859,963 36,724,982 53,500,323 79,192,773 75,504,099
Growth (%) 15.27% 45.68% 48.02% -4.66% 17,500

Growth (%) 16.88% 52.57% 63.70% -6.87%
18,359
Paid up Capital 3,400,000 3,400,000 3,400,000 3,628,936 3,628,936
16,339
18,849

Par Value 500 500 500 500 500 12,369
15,004
Total Equity 11,020,729 12,368,664 16,338,840 18,359,440 18,849,149

11,159
Growth (%) 12.23% 32.10% 12.37% 2.67% 7,313
Total Revenues 9,173,817 9,848,242 16,661,403 35,092,196 27,384,519

Growth (%) 7.35% 69.18% 110.62%
-377
2014 2015 2016 2017 Sep-18
Cost of Revenues 5,483,825 5,720,422 11,805,012 29,784,309 23,148,718

Gross Profit 3,689,992 4,127,820 4,856,391 5,307,887 4,235,800
Expenses (Income) 617,268 650,155 690,884 659,807 30,032
Growth (%) 13.18% 19.78% 11.58%

35,092
27,385
27,933
Other Income (Expenses) -1,222,062 -1,409,361 -1,515,828 -1,397,628 -1,701,794

Income before Tax 1,850,661 2,068,304 2,649,679 3,250,452 2,503,975
16,661
20,775
Tax 613,647 749,104 846,625 1,156,796 -825,664

9,174 9,848
Growth (%) 6.64% 36.68% 16.12%
6,457
Current Ratio (%) 82.44 48.16 69.61 75.95 55.37
2,094
Dividend (Rp) - 43.13 78.09 60.63 -
1,803
2,094
EPS (Rp) 209.08 213.14 260.40 303.15 244.05 1,678

BV (Rp) 1,620.70 1,818.92 2,402.77 2,529.59 2,597.06 1,667
1,319
DAR (X) 0.65 0.66 0.69 0.77 0.75 1,237
DER(X) 1.89 1.97 2.27 3.31 3.01

1,239
ROA (%) 3.88 3.59 3.37 2.64 2.22 812
ROE (%) 11.22 10.67 11.04 11.40 8.90

GPM (%) 40.22 41.91 29.15 15.13 15.47 385
OPM (%) 33.49 35.31 25.00 13.25 15.36

NPM (%) 13.48 13.40 10.82 5.97 6.13
-42
2014 2015 2016 2017 Sep-18

Payout Ratio (%) - 20.24 29.99 20.00 -
Yield (%) - 0.83 1.81 0.95 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

KALBE FARMA TBK.

Company Profile
PT Kalbe Farma Tbk. was established at September 10th, 1966, within the framework of the Domestic
Capital Investment Law. The Company was driven by the Vision to be the best Indonesian global
healthcare company driven by innovation, Strong Brands and excellent management. With a Mission To
improve health for a better life.
The scope of activities of the Company comprises, among others, pharmaceuticals, trading and
representative. Currently, the Company is primarily engaged in the development, manufacturing, and
trading of pharmaceuticals preparation including medicines and consumer health products. The
Company started its commercial operations in 1966.
The Subsidiaries are engaged in :

 Pharmaceutical: PT Kalbe Genexine Biologics, PT Innogene Kalbiotech Pte. Ltd, PT Kalbio Global
Medika, PT Finusolprima Farma Internasional, PT Bifarma Adiluhung, PT Saka Farma
Laboratories, PT Pharma Metric Laboratories, PT Dankos Farma, PT Kalbe Vision Pte. Ltd, PT
Kalgen DNA, PT Global Onkolab Farma, PT Innolab Sains Internasional, Kalbe Myanmar Company
Ltd. PT Kalbe Genexine Biologics, PT Hexpharm Jaya Laboratories, dan PT Bintang Toejoe.
 Health Foods and Drinks: PT Sanghiang Perkasa, PT Kalbe Morinaga Indonesia, PT Hale
International, PT Kalbe Milko Indonesia, PT Kalbe Blackmores Nutrition, and PT Global Vita
Nutritech.
 Sale and Distribution: PT Kalbe International Pte. Ltd, PT Milenia Dharma Insani, PT Tri Sapta
Jaya, PT Enseval Medika Prima, PT Global Chemindo Megatrading, PT Renalmed Tiara Utama,
PT Medika Renal Citraprima, Asiawide Kalbe Philippines Inc., Kalbe Malaysia Sdn. Bhd, PT Karsa
Lintas Buwana, PT Medika Komunika Teknologi, PT Cakra Radha Mustika. PT Enseval Putera
Megatrading Tbk., and PT Millenia Dharma Insani.
In 2018 the company received awards: The Best of Best Across All Industries and The Best in
Pharmaceutical Industry at the 7th Annual Strategy into Performance Execution Excellence (SPEx2)
Award 2018, The Priority Integration Sector Healthcare 2018 at ASEAN Business Awards 2018.
The Company’s production plants are located at Industri Area Delta Silicon, Jl. M.H. Thamrin, Block A3-1,
Lippo Cikarang, Bekasi. The head office is located in Kalbe Building Jl. Let. Jendral Suprapto kav 4,
Cempaka Putih, Jakarta 10510. As of September 30th, 2018, the Company and its subsidiaries have total
of 12,545 permanent employees.
February 2019
Disclaimer:

KLBF Kalbe Farma Tbk.

Industry Sub Sector : Pharmaceuticals (53) Market Capitalization : 75,000,195,376,000
16 | 75.0T | 1.01% | 54.88%
47 | 10.6T | 0.51% | 73.11%

Established Date : 10-Sep-1966 1. PT Gira Sole Prima 4,774,709,485 : 10.19%
Listing Date : 30-Jul-1991 (IPO Price: 7,800) 2. PT Santa Seha Sanadi 4,527,734,940 : 9.66%
Underwriter IPO : 3. PT Diptanala Bahana 4,454,807,040 : 9.50%
PT Merincorp S.I. 4. PT Ladang Ira Panen 4,452,558,840 : 9.50%
PT Niaga Securities 5. PT Lucasta Murni Cemerlang 4,439,895,440 : 9.47%
Securities Administration Bureau : 6. PT Bina Artha Charisma 4,052,950,340 : 8.65%
PT Adimitra Jasa Korpora 7. Public (<5%) 20,172,466,025 : 43.03%
BOARD OF COMMISSIONERS DIVIDEND ANNOUNCEMENT

1. Bernadette Ruth Irawaty Setiady Bonus Cash Recording Payment
F/I
2. Farid Anfasa Moeloek *) Year Shares Dividend Cum Date Ex Date Date Date
3. Ferdinand Aryanto 1991 200.00 16-Apr-92 20-Apr-92 27-Apr-92 29-May-92 F
4. Lucky Surjadi Slamet *) 1991 1: 1 20-Oct-92 21-Oct-92 28-Oct-92 16-Nov-92 BS
5. Ronny Hadiana 1992 60.00 9-Dec-92 10-Dec-92 17-Dec-92 15-Jan-93 I
6. Santoso Oen 1992 70.00 30-Jun-93 1-Jul-93 8-Jul-93 6-Aug-93 F
*) Independent Commissioners 1993 10 : 3 & 10 : 7 75.00 7-Jun-94 8-Jun-94 15-Jun-94 15-Jul-94 F1993BS1993
1994 50.00 29-Aug-94 30-Aug-94 6-Sep-94 6-Oct-94 I

1. Vidjongtius 1995 115.00 9-Jul-96 10-Jul-96 18-Jul-96 15-Aug-96 F
2. Bernadus Karmin Winata 1996 75.00 23-Jul-97 24-Jul-97 1-Aug-97 29-Aug-97 F
3. Bujung Nugroho 1999 2.00 10-Nov-00 13-Nov-00 20-Nov-00 6-Dec-00 F
4. Djonny Hartono Tjahyadi 1999 100 : 88 10-Nov-00 13-Nov-00 20-Nov-00 6-Dec-00 F
5. Ongkie Tedjasurja 2002 2.00 25-Aug-03 26-Aug-03 28-Aug-03 11-Sep-03 F
6. Sie Djohan 2003 1.00 16-Aug-04 18-Aug-04 20-Aug-04 3-Sep-04 F
2004 3.00 5-Jul-05 6-Jul-05 8-Jul-05 22-Jul-05 F
AUDIT COMMITTEE 2006 10.00 14-Jun-07 15-Jun-07 19-Jun-07 3-Jul-07 I
1. Lucky Surjadi Slamet 2007 10.00 31-Jul-08 1-Aug-08 5-Aug-08 20-Aug-08 F
2. Kai Arief Iman Selomulya 2008 12.50 29-Jul-09 30-Jul-09 3-Aug-09 14-Aug-09 F
3. Kurniawan Tedjo 2009 25.00 15-Jul-10 16-Jul-10 20-Jul-10 30-Jul-10 F
2010 70.00 27-Jun-11 28-Jun-11 1-Jul-11 13-Jul-11 F
CORPORATE SECRETARY 2011 95.00 28-Jun-12 29-Jun-12 3-Jul-12 17-Jul-12 F
Bernadus Karmin Winata 2012 19.00 13-Jun-13 14-Jun-13 18-Jun-13 2-Jul-13 F
2013 17.00 13-Jun-14 16-Jun-14 18-Jun-14 2-Jul-14 F
HEAD OFFICE 2014 19.00 25-May-15 26-May-15 28-May-15 17-Jun-15 F
Kalbe Building 2015 19.00 7-Jun-16 8-Jun-16 10-Jun-16 30-Jun-16 F
Jl. Let. Jend. Suprapto Kav. 4, Cempaka Putih 2016 22.00 12-Jun-17 13-Jun-17 15-Jun-17 7-Jul-17 F
Jakarta 10510 2017 25.00 21-Jun-18 22-Jun-18 26-Jun-18 6-Jul-18 F
Phone : (021) 4287-3888; 4287-3889
Email : investor.relations@kalbe.co.id No. Type of Listing Shares Date Date
Corp.comm@kalbe.co.id 1. First Issue 10,000,000 30-Jul-91 30-Jul-91
bernadus.winata@kalbe.co.id 2. Partial Listing 10,000,000 T: 30-Jul-91 : 30-Jan-92
3. Koperasi 500,000 T: 27-Feb-92 : 31-Dec-99
4. Company Listing 29,500,000 29-Apr-92 29-Apr-92
5. Bonus Shares 2,026,400,000 T: 17-Nov-92 : 6-Dec-00
6. Right Issue 8,000,000 T: 14-May-93 : 25-Jun-93
7. Dividend Shares 32,400,000 18-Jul-94 18-Jul-94
8. Stock Split 46,628,857,688 T: 7-Oct-96 : 8-Oct-12
9. Additional Listing (Merger) 2,034,414,422 21-Dec-05 21-Dec-05
10. Decrease in Issued and Fully Paid Shares -3,904,950,000 13-Dec-13 13-Dec-13


TRADING ACTIVITIES
Kalbe Farma Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
2,000 400 Jan-15 1,880 1,775 1,865 67,451 931,699 1,699,637 21
Feb-15 1,870 1,780 1,805 72,888 924,635 1,684,580 19
1,750 350 Mar-15 1,865 1,775 1,865 76,831 1,156,024 2,102,717 22
Apr-15 1,915 1,750 1,795 72,828 906,565 1,672,698 21
May-15 1,870 1,730 1,840 92,844 1,178,383 2,127,734 19
1,500 300
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
1,250 250
Aug-15 1,735 1,405 1,675 110,480 1,084,676 1,706,243 20
Sep-15 1,700 1,250 1,375 86,684 887,975 1,334,895 21
1,000 200
Oct-15 1,610 1,345 1,430 125,064 1,275,026 1,870,332 21
Nov-15 1,455 1,305 1,335 94,453 1,193,529 1,635,558 21
750 150 Dec-15 1,390 1,135 1,320 97,512 1,356,241 1,718,826 19
500 100 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
250 50 Mar-16 1,465 1,270 1,445 111,539 1,864,143 2,497,670 21
Apr-16 1,470 1,320 1,375 81,214 1,099,897 1,551,019 21
May-16 1,430 1,295 1,430 81,608 1,189,673 1,617,860 20
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
Aug-16 1,815 1,660 1,795 76,521 989,147 1,701,612 22
Sep-16 1,805 1,650 1,715 62,071 879,271 1,517,409 21
Consumer Goods Industry Index Nov-16 1,755 1,385 1,500 76,734 1,188,212 1,805,036 22
40%
Jan-17 1,570 1,450 1,450 42,602 341,931 516,733 21
30% Feb-17 1,550 1,445 1,530 42,767 651,516 965,235 19
24.6% Mar-17 1,550 1,440 1,540 51,872 925,901 1,331,644 22
20% 20.7% Apr-17 1,620 1,535 1,585 30,979 731,864 1,139,146 17
May-17 1,595 1,480 1,540 51,643 849,651 1,190,064 20
10% Jun-17 1,630 1,520 1,625 28,169 488,991 770,218 15
Jul-17 1,735 1,580 1,735 45,995 558,286 927,632 21
Aug-17 1,795 1,680 1,710 54,179 822,576 1,425,860 22
-
Sep-17 1,750 1,660 1,665 39,731 473,128 813,566 19
Oct-17 1,730 1,585 1,600 46,241 529,894 884,130 22
-10%
-11.6% Nov-17 1,675 1,590 1,600 51,831 724,597 1,167,338 22
Dec-17 1,700 1,600 1,690 45,139 496,626 821,309 18
-20%
Jan-18 1,785 1,650 1,665 62,747 630,303 1,080,246 22

-30% Feb-18 1,700 1,600 1,600 51,765 625,334 1,017,897 19
Mar-18 1,625 1,390 1,500 57,212 715,111 1,087,414 21
-40% Apr-18 1,615 1,425 1,505 47,492 488,143 747,746 21
Jun-18 1,470 1,155 1,220 55,950 896,858 1,170,702 13
Jul-18 1,325 1,195 1,295 41,458 412,238 527,588 22
Frequency (Thou. X) 1,080 934 531 668 64 Nov-18 1,625 1,315 1,525 74,856 907,726 1,348,882 21
Days 244 246 238 240 22 Dec-18 1,645 1,430 1,520 74,296 614,088 938,432 18
Price (Rupiah) Jan-19 1,635 1,500 1,600 63,506 481,695 769,246 22

High 1,915 1,815 1,795 1,785 1,635
Low 1,135 1,250 1,440 1,155 1,500
Close 1,320 1,515 1,690 1,520 1,600
Close* 1,320 1,515 1,690 1,520 1,600
PER (X) 30.87 31.28 33.39 29.61 31.17

PER Industry (X) 17.71 23.77 18.48 24.94 36.52
PBV (X) 5.66 6.01 5.97 4.89 5.14


Receivables 2,464,902 2,434,082 2,725,808 2,967,693 3,599,204

3,090,544 3,003,150 3,344,404 3,557,497 3,471,242 15,000
Inventories
Current Assets 8,120,805 8,748,492 9,572,530 10,043,951 10,322,942
11,250
Fixed Assets 3,404,457 3,938,494 4,555,756 5,342,660 5,930,201
Other Assets 326,536 346,531 413,327 546,831 600,744
7,500
Total Assets 12,439,267 13,696,417 15,226,009 16,616,239 17,530,869
Growth (%) 10.11% 11.17% 9.13% 5.50% 3,750

Growth (%) 3.10% 0.15% -1.45% 8.47%
13,894
Paid up Capital 468,751 468,751 468,751 468,751 468,751 14,578
12,464
10,938
Par Value 10 10 10 10 10 9,764
11,604

Total Equity 9,764,101 10,938,286 12,463,847 13,894,032 14,577,990
8,630
Growth (%) 12.03% 13.95% 11.47% 4.92% 5,656
Total Revenues 17,368,533 17,887,464 19,374,231 20,182,120 15,678,301

Growth (%) 2.99% 8.31% 4.17%
-292
2014 2015 2016 2017 Sep-18
Cost of Revenues 8,892,726 9,295,887 9,886,263 10,369,837 8,194,448

Gross Profit 8,475,807 8,591,577 9,487,968 9,812,283 7,483,853
Expenses (Income) 5,710,213 5,870,696 6,396,780 6,571,097 5,068,439
19,374
Growth (%) 17,369 17,887
20,182
15,678
16,065

Tax 642,916 663,187 740,304 787,935 581,769

Growth (%) -3.06% 14.25% 4.35%

3,714
Current Ratio (%) 340.36 369.78 413.11 450.94 425.24
2,453
2,351
Dividend (Rp) 19.00 19.00 22.00 25.00 -
2,123
2,453
44.08 42.76 49.06 51.28 38.49 2,058

EPS (Rp)
1,834
BV (Rp) 208.30 233.35 265.89 296.41 311.00 1,953
DAR (X) 0.22 0.20 0.18 0.16 0.17

DER(X) 0.27 0.25 0.22 0.20 0.20
1,452
ROA (%) 17.06 15.02 15.44 14.76 10.46 952
ROE (%) 21.74 18.81 18.86 17.66 12.58

GPM (%) 48.80 48.03 48.97 48.62 47.73 451
OPM (%) - - - - -
NPM (%) 12.22 11.50 12.13 12.16 11.70
-49
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 43.11 44.44 44.84 48.75 -
Yield (%) 1.04 1.44 1.45 1.48 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

MATAHARI DEPARTMENT STORE TBK.

Company Profile
PT Matahari Department Store Tbk. has a deep legacy in Indonesian retail sector. Beginning its journey
on October 24, 1958 with the opening of its first outlet, a children’s fashion store, in Jakarta’s Pasar Baru
district, Matahari went on to open Indonesia’s first modern department store in 1972. Since then,
Matahari has established itself as a truly national brand.
The Company has engaged in the retail bussiness for several types of products such as clothes,
accessories, bags, shoes, cosmetics, and household appliances, and management consulting service. It
currently operates 155 stores in 73 cities across Indonesia, with a total retail space of more than one
million square meters and has a growing Online.
The Company has a goal to make every Indonesian people look comfortable and attractive, in which it
has a mission to provide a variety of quality and affordable fashion needs for customers with a friendly
atmosphere, and to Provide a fun shopping experience and improving overall quality of life.
In 2018, the Company was awarded: Platinum awards (1st position) for Indonesia Sales Marketing Award
(ISMA) 2018 for non-financial Public Companies category and in the top 10 for across categories, Gold
award (2nd position) for Indonesia Legal Award (ILA) 2018, Public Companies category, Best Equitable
Treatment of Shareholders and Top 20 Public Listed Companies, etc.
The Company’s operational head office is located in Menara Matahari 15th Floor, Jl. Boulevard Palem
Raya No. 7, Lippo Karawaci – Tangerang 15811. The total number of employees of the Company at
September 30th, 2018 was 12,956.
February 2019
Disclaimer:

LPPF Matahari Department Store Tbk.

Industry Sub Sector : Retail Trade (93) Market Capitalization : 20,425,426,560,000
60 | 20.4T | 0.28% | 76.77%
31 | 17.9T | 0.86% | 62.46%

Established Date : 01-Apr-1982 1. PT Multipolar Tbk. 287,794,095 : 9.86%
Listing Date : 10-Oct-1989 (IPO Price: 7,900) 2. PT Multipolar Tbk. 130,662,650 : 4.48%
Underwriter IPO : 3. PT Multipolar Tbk. 91,535,255 : 3.14%
PT Aseam Indonesia 4. Public (<5%) 2,407,926,080 : 82.52%
PT Finconesia
PT Multicor DIVIDEND ANNOUNCEMENT
PT Bank Pembangunan Indonesia Bonus Cash Recording Payment
F/I
PT (Persero) Danareksa Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1990 5:1 50.00 11-Jul-90 12-Jul-90 20-Jul-90 22-Aug-90 I
PT Sharestar Indonesia 1990 100.00 2-Jul-91 3-Jul-91 10-Jul-91 12-Aug-91 F
1991 1 :2 175.00 13-Jul-92 14-Jul-92 21-Jul-92 11-Aug-92 F
1. John Bellis *) 1993 5:1 50.00 21-Jul-94 22-Jul-94 29-Jul-94 26-Aug-94 F
2. Surya Tatang *) 1994 75.00 23-Jun-95 26-Jun-95 4-Jul-95 3-Aug-95 F
3. Niel Byron Nielson 1995 75.00 9-Jul-96 10-Jul-96 18-Jul-96 16-Aug-96 F
4. Roy Nicholas Mandey 1996 50.00 7-Jul-97 8-Jul-97 16-Jul-97 15-Aug-97 F
5. Rudy Ramawy *) 2010 32.25 10-Jun-11 13-Jun-11 15-Jun-11 30-Jun-11 F
6. Sigit Prasetya 2010 14.00 22-Aug-11 23-Aug-11 25-Aug-11 15-Sep-11 F
7. William Travis Saucer 2013 157.70 11-Jun-14 12-Jun-14 16-Jun-14 30-Jun-14 F
2016 484.60 4-May-17 5-May-17 9-May-17 26-May-17 F
BOARD OF DIRECTORS 2017 457.50 7-May-18 8-May-18 11-May-18 30-May-18 F
1. Bunjamin Jonatan Mailool
2. Andre Rumantir ISSUED HISTORY
3. Christian Kurnia Listing Trading
4. Henry Jani Liando No. Type of Listing Shares Date Date
5. Richard Thomas Gibson 1. First Issue 2,140,000 9-Oct-89 9-Oct-89
6. Widhayati Hendropurnomo 2. Partial Listing 2,250,000 12-Apr-90 24-Apr-90
3. Bonus Shares 878,000 27-Aug-90 27-Aug-90
AUDIT COMMITTEE 4. Bonus Shares 10,536,000 13-Aug-92 13-Aug-92
1. John Bellis 5. Dividend Shares 3,160,800 2-Sep-94 2-Sep-94
2. Farid Harianto 6. Company Listing 11,880,000 11-Jun-97 11-Jun-97
3. Karnadi Nawawi� 7. Right Issue 1,295,481,600 19-Jul-01 19-Jul-01
8. Reverse Stock Split -1,061,061,120 9-Nov-09 9-Nov-09
CORPORATE SECRETARY 9. Right Issue 2,652,652,800 4-Dec-09 4-Dec-09
Miranti Hadisusilo
HEAD OFFICE
Matahari Tower Floor 8-15
Jl. Boulevard Palem Raya No. 7, Lippo Karawaci - 1200
Tangerang 15811
Phone : (021) 547-5333; 150-0838
Fax : (021) 547-5232
Email : corp.comm@matahari.co.id
miranti.hadisusilo@matahari.co.id
ir@matahari.co.id


TRADING ACTIVITIES
Matahari Department Store Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
22,000 320 Jan-15 16,200 14,125 15,525 58,908 446,605 6,762,194 21
Feb-15 18,100 14,800 17,850 59,414 263,261 3,981,884 19
19,250 280 Mar-15 20,000 17,300 19,700 72,275 119,919 2,180,042 22
Apr-15 20,225 16,100 17,500 67,293 120,762 2,193,928 21
May-15 18,450 16,200 17,450 70,303 118,558 2,058,595 19
16,500 240
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
13,750 200
Aug-15 18,800 14,300 17,525 71,109 113,964 1,914,180 20
Sep-15 17,475 15,150 16,100 63,237 92,007 1,467,454 21
11,000 160
Oct-15 18,025 15,600 16,575 87,571 129,214 2,124,978 21
Nov-15 16,875 14,500 15,650 70,212 99,786 1,568,901 21
8,250 120 Dec-15 17,900 15,800 17,600 59,417 69,198 1,168,321 19
5,500 80 Jan-16 17,750 15,625 16,000 69,519 115,327 1,906,616 20

Feb-16 18,475 15,925 18,475 70,520 133,282 2,211,645 20
2,750 40 Mar-16 18,450 16,600 18,350 87,844 140,089 2,479,966 21
Apr-16 19,450 17,275 19,000 58,129 117,473 2,151,389 21
May-16 19,450 17,625 18,975 68,483 324,058 5,779,835 20
Jun-16 20,700 18,475 20,000 82,444 132,534 2,562,757 22
Jul-16 22,575 19,750 19,925 70,353 93,768 1,955,675 16
Aug-16 21,300 19,700 20,000 76,873 154,058 3,148,746 22
Sep-16 19,875 17,775 18,475 104,073 300,034 5,579,993 21
Trade, Sevices and Investment Index Nov-16 17,800 13,325 14,400 148,743 321,547 4,955,632 22
80%
Jan-17 15,900 14,550 14,775 67,458 129,962 1,982,508 21
60% Feb-17 15,525 13,650 13,650 77,673 201,868 2,993,748 19
Mar-17 14,350 11,175 13,175 126,544 534,500 6,975,483 22
40% Apr-17 15,150 13,025 14,600 49,665 121,303 1,642,657 17
May-17 15,950 14,200 15,100 67,370 156,988 2,353,935 20
24.6% Jun-17 15,400 14,100 14,175 43,108 71,631 1,048,376 15
20%
Jul-17 14,600 11,925 12,675 79,480 195,279 2,509,464 21
Aug-17 12,300 10,000 10,000 91,827 236,529 2,616,674 22
-
Sep-17 10,350 9,175 9,275 61,245 152,937 1,500,566 19
-9.5%
Oct-17 9,950 8,475 8,600 80,217 262,620 2,491,378 22
-20%
Nov-17 11,675 8,875 10,600 72,499 226,355 2,307,833 22
Dec-17 11,300 9,600 10,000 40,875 68,292 724,387 18
-40%
-52.6% Jan-18 11,500 10,300 11,125 63,142 91,940 1,007,982 22

-60% Feb-18 11,500 9,275 10,650 60,047 99,284 1,046,045 19
Mar-18 11,975 10,300 10,950 62,886 111,620 1,236,808 21
-80% Apr-18 11,250 10,075 10,350 63,252 110,773 1,186,901 21
Jun-18 9,225 8,100 8,800 39,359 107,127 939,376 13
Jul-18 9,700 7,875 8,025 67,462 149,624 1,280,809 22
Frequency (Thou. X) 806 1,001 858 920 69 Nov-18 5,325 4,260 4,750 105,546 546,469 2,570,087 21
Days 244 246 238 240 22 Dec-18 6,200 4,830 5,600 88,653 314,770 1,712,470 18
Price (Rupiah) Jan-19 7,325 5,575 7,000 69,242 182,181 1,158,952 22

High 20,225 22,575 15,950 11,975 7,325
Low 14,125 13,325 8,475 4,260 5,575
Close 17,600 15,125 10,000 5,600 7,000
Close* 17,600 15,125 10,000 5,600 7,000
PER (X) 28.84 20.56 15.30 8.19 10.24

PER Industry (X) 14.53 19.07 17.44 5.25 6.49
PBV (X) 46.43 30.03 12.53 6.57 8.21


Cash & Cash Equivalents 785,895 946,658 1,712,844 1,582,817 798,723 6,250
Receivables 109,381 76,026 94,566 151,949 157,541

955,231 1,007,811 995,276 1,005,484 1,234,734 5,000
Inventories
Current Assets 2,117,507 2,272,941 2,974,052 2,973,749 2,583,135
3,750
Fixed Assets 725,954 876,566 979,858 973,698 931,926
Other Assets 24,577 153,172 252,750 156,017 139,489
2,500
Total Assets 3,408,372 3,889,291 4,858,878 5,427,426 5,005,256
Growth (%) 14.11% 24.93% 11.70% -7.78% 1,250

Growth (%) -13.86% 7.92% 3.19% -18.81%
Paid up Capital 386,794 386,794 386,794 386,794 386,794 2,489 2,328

1,855
Par Value 5,000 & 350 & 100 5,000 & 350 & 100 5,000 & 350 & 100 5,000 & 350 & 100 5,000 & 350 & 100
1,981

Total Equity 177,590 1,106,167 1,855,243 2,327,985 2,488,793
1,473
1,106
Growth (%) 522.88% 67.72% 25.48% 6.91% 966
178
Total Revenues 7,925,547 9,006,893 9,897,046 10,023,961 7,777,764
Growth (%) 13.64% 9.88% 1.28%
-50
2014 2015 2016 2017 Sep-18
Cost of Revenues 2,877,507 3,335,638 3,685,279 3,762,021 2,892,070

Gross Profit 5,048,040 5,671,255 6,211,767 6,261,940 4,885,694
Expenses (Income) 2,964,128 3,333,607 3,677,856 3,885,277 3,013,738
9,007
Growth (%) 12.18% 8.40% -6.21%
10,024
7,926 7,778
7,979
Other Income (Expenses) -233,368 -92,827 -1,245 19,637 10,815

Tax 431,426 463,973 512,961 489,223 387,015

Growth (%) 25.49% 13.41% -5.58%

1,844
Current Ratio (%) 84.08 93.19 114.90 113.90 129.93
2,020
Dividend (Rp) - 427.30 484.60 457.50 - 1,907
1,781
2,020
EPS (Rp) 486.35 610.31 692.17 653.57 512.61

1,496
BV (Rp) 60.86 379.09 635.81 797.82 852.93 1,608
1,419
DAR (X) 0.95 0.72 0.62 0.57 0.50

DER(X) 18.19 2.52 1.62 1.33 1.01
1,196
ROA (%) 41.64 45.79 41.57 35.14 29.88 784
ROE (%) 799.10 160.99 108.86 81.92 60.10

GPM (%) 63.69 62.97 62.76 62.47 62.82 372
OPM (%) 26.29 25.95 25.60 23.71 24.07

NPM (%) 17.91 19.77 20.41 19.03 19.23
-40
2014 2015 2016 2017 Sep-18

Payout Ratio (%) - 70.01 70.01 70.00 -
Yield (%) - 2.43 3.20 4.58 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

MEDCO ENERGI INTERNASIONAL TBK.

Company Profile
PT Medco Energi Internasional Tbk was established within the framework of the Domestic Capital
Investment Law No. 6/1968 as amended by Law No. 12/1970, based on Notarial Deed No. 19 of Imas
Fatimah, S.H., dated June 9th, 1980 under The name PT Meta Epsi Pribumi Drilling Company.
In accordance with Article 3 of the Company's Articles of Association, the scope of its activities
comprises among others, exploration for and production of oil and natural gas, and other energy
activities, onshore and offshore drilling, and investing (direct and indirect) in subsidiaries.
The Company operates several other businesses, PT Api Metra Graha which is engaged in Property,
PT Exspan Petrogras Intranusa provides drilling services, PT Medco Energi Mining Internasional holds
two coal Mining Business Licenses (IUP) through PT Duta Tambang Rekayasa (DTR) and PT Duta
Tambang Sumber Alam (DTSA) located in the Nunukan Regency, North Kalimantan, PT Meta Adhya
Tirta Umbulan is developing drinking water supply system from the Umbulan Spring, in East Java
Province, and PT Mitra Energi Gas Sumatera (MEGS) operates a compression station with three gas
compressors and a 17.5 km long pipeline located in Mount Megang, Muara Enim, South Sumatra.
In 2018 the company received awards: The Best Clean and Renewable Energy Company Award at Best
Electricity Award (IBEA) 2018, etc.
The Company is domiciled in Jakarta and its head office is located at 53 rd Floor, The Energy Building,
SCBD lot 11A, Jln. Jenderal Sudirman, Jakarta 12190. As of September 30th, 2018, the Company and
subsidiaries had 2,809 permanent employees.
February 2019
Disclaimer:

MEDC Medco Energi Internasional Tbk.

Industry Sub Sector : Crude Petroleum & Natural Gas Production (22) Market Capitalization : 18,012,045,703,170
64 | 18.0T | 0.24% | 77.76%
19 | 27.4T | 1.32% | 49.98%

Established Date : 09-Jun-1980 1. PT Medco Daya Abadi Lestari 8,959,891,262 : 50.25%
Listing Date : 12-Oct-1994 (IPO Price: 4,350) 2. Diamond Bridge Pte., Ltd. 3,830,690,801 : 21.49%
PT Bahana Securities
PT Niaga Securities DIVIDEND ANNOUNCEMENT
PT Multicor Bonus Cash Recording Payment
F/I
PT Ronie Wijata Dharma Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1994 50.00 19-Jul-95 20-Jul-95 28-Jul-95 26-Aug-95 F
PT Sinartama Gunita 1995 10 : 7 75.00 17-Jul-96 18-Jul-96 26-Jul-96 23-Aug-96 F
1996 60.00 7-Jul-97 8-Jul-97 16-Jul-97 16-Aug-97 F
1. Muhammad Lutfi 2000 85.00 30-Jul-01 31-Jul-01 3-Aug-01 20-Aug-01 F
2. Bambang Subianto *) 2001 110.00 24-May-02 27-May-02 30-May-02 12-Jun-02 F
3. Marsillam Simandjuntak *) 2002 111.00 22-May-03 23-May-03 27-May-03 11-Jun-03 F
4. Yani Yuhani Rodyat 2003 US$ 0.0064 4-Jun-04 7-Jun-04 9-Jun-04 23-Jun-04 F
5. Yaser Raimi A. Panigoro 2004 US$ 0.0105 30-Jun-05 1-Jul-05 5-Jul-05 19-Jul-05 F
*) Independent Commissioners 2005 US$ 0.0112 29-May-06 30-May-06 1-Jun-06 15-Jun-06 F
2006 US$ 0,0057 19-Jun-07 20-Jun-07 22-Jun-07 6-Jun-07 F
BOARD OF DIRECTORS 2008 US$ 0.015 3-Aug-09 4-Aug-09 6-Aug-09 21-Aug-09 F
1. Hilmi Panigoro 2009 US$ 0.00288 21-Jun-10 22-Jun-10 24-Jun-10 8-Jul-10 F
2. Amri Siahaan 2010 US$ 0.00748 13-Jun-11 14-Jun-11 16-Jun-11 1-Jul-11 F
3. Anthony R. Mathias 2011 US$ 0.00766 1-Jun-12 4-Jun-12 6-Jun-12 20-Jun-12 F
4. Roberto Lorato 2012 US$ 0.0011 20-May-13 21-May-13 23-May-13 7-Jun-13 F
5. Ronald Gunawan 2013 US$ 0.00151 26-May-14 28-May-14 2-Jun-14 16-Jun-14 F
2014 US$ 0.00121 27-Apr-15 28-Apr-15 30-Apr-15 22-May-15 F
AUDIT COMMITTEE
1. Bambang Subianto ISSUED HISTORY
2. Ida Anggrainy Sarwani Listing Trading
3. Jul Azmi No. Type of Listing Shares Date Date
1. First Issue 22,000,000 12-Oct-94 12-Oct-94
CORPORATE SECRETARY 2. Company Listing 79,400,000 T: 12-Oct-94 : 13-May-95
Siendy K. Wisandana 3. Bonus Shares 70,980,000 26-Aug-96 26-Aug-96
4. Stock Split 12,835,695,510 T: 18-Aug-98 : 11-Sep-17
HEAD OFFICE 5. Right Issue 4,720,847,957 T: 22-Nov-99 : 2-Jan-18
Gedung The Energy, Lt 52-55, SCBD lot 11A 6. Warrant I 104,785,150 T: 13-Jul-18 : 29-Jan-19
Jl. Jend. Sudirman, Senayan
Jakarta 12190
Phone : (021) 2995 3000
Fax : (021) 2995-3001
Email : siendyk.wisandana@medcoenergi.com


TRADING ACTIVITIES
Medco Energi Internasional Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
1,600 16,000 Jan-15 3,720 2,625 3,125 16,400 43,441 139,769 21
Feb-15 3,220 2,885 3,000 7,824 19,646 59,570 19
1,400 14,000 Mar-15 3,245 2,575 3,100 15,871 32,223 92,270 22
Apr-15 3,225 2,780 3,200 4,473 11,849 37,662 21
May-15 3,200 2,650 2,650 5,750 13,376 38,655 19
1,200 12,000
Jun-15 2,830 2,595 2,730 5,876 28,399 74,631 21
Jul-15 2,730 2,325 2,570 4,955 6,096 15,177 19
1,000 10,000
Aug-15 2,590 1,240 1,240 11,219 54,193 94,438 20
Sep-15 1,390 1,125 1,145 7,792 37,041 48,962 21
800 8,000
Oct-15 1,315 1,065 1,075 7,363 24,478 28,884 21
Nov-15 1,450 1,000 1,055 12,635 53,398 64,680 21
600 6,000 Dec-15 1,075 750 795 14,641 58,906 50,212 19
400 4,000 Jan-16 810 675 705 6,783 24,223 17,711 20

Feb-16 1,030 670 980 8,295 42,286 33,708 20
200 2,000 Mar-16 1,575 905 1,495 29,560 151,335 176,007 21
Apr-16 1,860 1,345 1,675 41,121 191,482 308,183 21
May-16 1,795 1,365 1,390 14,206 78,526 126,885 20
Jun-16 1,575 1,145 1,500 17,947 127,148 179,906 22
Jul-16 1,950 1,530 1,685 19,301 135,075 245,778 16
Aug-16 1,855 1,450 1,520 22,016 101,320 171,706 22
Sep-16 1,655 1,365 1,530 11,522 53,802 82,545 21
Mining Index Nov-16 1,660 1,230 1,260 28,753 178,931 257,465 22
100%
Jan-17 1,600 1,315 1,390 20,187 136,996 199,542 21
75% Feb-17 2,920 1,410 2,500 46,906 467,218 1,067,137 19
Mar-17 3,720 2,330 3,500 57,984 365,778 1,092,635 22
50% Apr-17 3,680 2,990 2,990 49,795 400,942 1,050,924 17
40.5% May-17 3,020 2,200 3,010 67,078 333,617 899,106 20
25% 24.6% Jun-17 3,030 2,250 2,290 27,842 145,737 378,923 15
21.0% Jul-17 2,820 2,230 2,660 36,069 213,359 547,302 21
Aug-17 3,300 2,600 3,300 37,680 205,440 601,001 22
-
Sep-17 3,490 720 780 88,089 1,631,663 1,493,821 19
Oct-17 825 740 790 48,035 3,639,640 1,858,428 22
-25%
Nov-17 990 745 980 64,981 1,884,103 1,642,872 22
Dec-17 1,040 815 890 63,265 1,359,075 1,227,199 18
-50%
Jan-18 1,380 890 1,240 106,993 3,857,456 4,186,882 22

-75% Feb-18 1,575 1,095 1,575 108,432 1,489,806 1,965,123 19
Mar-18 1,600 1,150 1,210 87,703 13,607,263 17,950,648 21
-100% Apr-18 1,330 1,140 1,200 71,548 1,013,308 1,254,410 21
Jun-18 1,210 955 965 38,177 465,372 510,844 13
Jul-18 1,040 855 990 67,953 691,113 674,264 22
SHARES TRADED 2015 2016 2017 2018 Jan-19 Aug-18 1,095 860 870 78,614 936,829 907,983 21
Volume (Million Sh.) 383 2,115 10,784 25,633 1,149 Sep-18 1,000 720 1,000 59,763 904,973 769,512 19
Value (Billion Rp) 745 3,163 12,059 30,558 1,011 Oct-18 1,095 795 820 66,212 680,072 644,844 23
Days 244 246 238 240 22 Dec-18 810 650 685 54,048 685,342 501,404 18
Price (Rupiah) Jan-19 1,060 685 1,010 77,837 1,149,393 1,011,112 22

High 3,720 1,950 3,720 1,600 1,060
Low 750 670 720 615 685
Close 795 1,320 890 685 1,010
Close* 179 297 890 685 1,010
PER (X) -1.02 11.31 4.91 -55.35 -81.64

PER Industry (X) 0.60 -4.41 6.26 -1.03 0.14
PBV (X) 0.27 0.45 1.01 0.58 0.85


Receivables 2,659,839 3,053,509 7,185,845 8,607,993 6,303,257

488,941 552,685 944,427 1,204,573 1,004,902 70,000
Inventories
Current Assets 9,340,974 14,412,844 15,239,928 26,757,979 26,077,600
52,500
Fixed Assets 1,100,754 951,259 69,468 920,236 680,011
Other Assets 252,712 276,196 68,974 563,542 394,978
35,000
Total Assets 33,607,629 40,137,903 48,331,047 69,918,327 77,292,981
Growth (%) 19.43% 20.41% 44.67% 10.55% 17,500

Growth (%) 37.44% 19.39% 40.01% 10.14%
Paid up Capital 333,245 333,245 333,245 443,223 443,223 21,218
19,003
Par Value 100 100 100 25 25
16,889
Retained Earnings 8,181,334 6,159,052 8,481,607 10,274,227 11,156,043 11,445 11,965

Total Equity 11,445,084 9,677,786 11,964,877 19,003,401 21,217,505 9,678
12,561
Growth (%) -15.44% 23.63% 58.83% 11.65% 8,232
Total Revenues 9,336,085 8,669,243 8,066,327 12,540,610 13,846,672

Growth (%) -7.14% -6.95% 55.47%
-424
2014 2015 2016 2017 Sep-18
Cost of Revenues 5,966,469 5,796,470 4,699,567 6,840,503 6,406,529

Gross Profit 3,369,615 2,872,773 3,366,760 5,700,107 7,440,143
Expenses (Income) 2,051,009 4,892,036 -130,607 1,696,908 4,794,769
12,541
Growth (%)
13,847
9,336
11,022
Other Income (Expenses) - - - - - 8,669

8,066
Income before Tax 1,318,606 -2,019,263 3,497,366 4,003,199 2,645,374 8,197
Tax 1,216,227 462,765 843,537 1,894,463 2,541,766

Profit for the period 108,972 -2,568,078 2,513,190 1,785,745 -18,401 5,373
Growth (%) N/A N/A -28.95%

2,548
Period Attributable 125,774 -2,509,072 2,482,403 1,721,919 165,476 -277
Comprehensive Income 363,648 -2,507,977 2,619,495 2,569,345 149,997 2014 2015 2016 2017 Sep-18
Comprehensive Attributable 380,450 -2,448,971 2,588,707 2,500,139 -72,506
Current Ratio (%) 160.59 198.41 131.80 152.67 159.19
2,513
Dividend (Rp) - - - - - 2,513
1,786
EPS (Rp) 37.74 -752.92 744.92 97.12 9.33
BV (Rp) 3,434.43 2,904.10 3,590.41 1,071.89 1,196.77 1,497
DAR (X) 0.66 0.76 0.75 0.73 0.73

109 2015 Sep-18
DER(X) 1.94 3.15 3.04 2.68 2.64
481
ROA (%) 0.32 -6.40 5.20 2.55 -0.02 -536

2014 2016 2017 -18
ROE (%) 0.95 -26.54 21.00 9.40 -0.09
GPM (%) 36.09 33.14 41.74 45.45 53.73 -1,552
OPM (%) - - - - -
NPM (%) 1.17 -29.62 31.16 14.24 -0.13
-2,568
-2,568
Payout Ratio (%) - - - - -
Yield (%) - - - - -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

MEDIA NUSANTARA CITRA TBK.

Company Profile
PT Media Nusantara Citra Tbk, or MNCN, operates 4 of Indonesia’s 11 Free-to-Air (FTA) television stations
and has additional core businesses in television content production and delivery. Established on 17 June
1997, the Company underwent listing on the Indonesia Stock Exchange (IDX) a decade later, specifically
on 22 June 2007.
MNCN further operates 20 Pay-TV channels that complement its current 4 FTA stations, specifically RCTI,
MNCTV, GTV and iNews. MNCN’s other business interests and involvement in radio and print media, plus
talent management and TV production companies effectively support its core business focus.
The scope of Company's activities is to engage in general trading, construction, industrial, agricultural,
transportation, printing, multimedia through satellite and other telecommunications peripheral, services
and investments.
MNC largest content production company currently produce 20,000 hours of content per year. MNCN
managed to increase local content production throughout its stations to an impressive 90% rate, Now
MNCN generates a staggering content library of more than 300,000 hours of content representing over
40% of the total content available nationwide. The content business are also complemented by 20 local
pay-TV Channels, and continuously increasing.
The Company’s head office is located at MNC Tower 26th Floor Jl.Kebon Sirih No.17-19, Jakarta 10340,
and it had a total of 7,846 employees as of September 30th, 2018.
February 2019
Disclaimer:
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 liabl e or

MNCN Media Nusantara Citra Tbk.

Industry Sub Sector : Advertising, Printing And Media (95) Market Capitalization : 12,063,307,457,500
88 | 12.1T | 0.16% | 82.49%
63 | 6.84T | 0.33% | 79.91%

Established Date : 17-Jun-1997 1. PT Global Mediacom Tbk. 8,743,389,723 : 61.24%
Listing Date : 22-Jun-2007 (IPO Price: 900) 2. Public (<5%) 5,532,713,777 : 38.76%
Underwriter IPO :
Bhakti Securities DIVIDEND ANNOUNCEMENT
Danareksa Sekuritas Bonus Cash Recording Payment
F/I
PT Datindo Entrycom 2007 5.00 1-Dec-08 2-Dec-08 4-Dec-08 19-Dec-08 F
2009 5.00 2-Oct-09 5-Oct-09 7-Oct-09 21-Oct-09 I
BOARD OF COMMISSIONERS 2009 7.00 29-Nov-10 30-Nov-10 2-Dec-10 17-Dec-10 F
1. Hary Tanoesoedibjo 2010 15.00 29-Nov-11 30-Nov-11 2-Dec-11 16-Dec-11 F
2. Adam Chesnoff 2011 35.00 22-Jun-12 25-Jun-12 27-Jun-12 11-Jul-12 F
3. Sutanto *) 2012 55.00 6-Sep-13 9-Sep-13 11-Sep-13 25-Sep-13 F
*) Independent Commissioners 2013 25.00 24-Dec-13 27-Dec-13 2-Jan-14 16-Jan-14 I
2013 35.00 14-Oct-14 15-Oct-14 17-Oct-14 31-Oct-14 F
1. David Fernando Audy 2016 42.00 7-Jul-17 10-Jul-17 12-Jul-17 2-Aug-17 F
2. Angela Herliani Tanoesoedibjo 2017 15.00 3-Jul-18 4-Jul-18 6-Jul-18 25-Jul-18 F
3. Arya Mahendra Sinulingga
4. Ella Kartika ISSUED HISTORY
5. Kanti Mirdiati Imansyah Listing Trading
6. Ruby Panjaitan No. Type of Listing Shares Date Date
1. First Issue 4,125,000,000 22-Jun-07 22-Jun-07
AUDIT COMMITTEE 2. Company Listing 9,625,000,000 T: 22-Jun-07 : 22-Feb-08
1. Sutanto 3. EMSOP Conversion II 23,504,500 T: 29-Nov-10 : 6-Jan-11
2. Hery Lusnanto 4. EMSOP Conversion II & III 52,960,500 T: 17-Feb-11 : 19-Jul-11
3. John Aristianto Prasetio 5. EMSOP Conversion II, III & IV 16,270,000 T: 26-Jul-11 : 18-Aug-11
4. Mohamed Idwan Ganie 6. EMSOP Conversion III & IV 3,988,000 4-Aug-11 4-Aug-11
7. ESOP/MSOP Conversion II, III, IV & V 108,886,000 T: 21-May-12 : 19-Nov-12
CORPORATE SECRETARY 8. ESOP/MSOP Conversion III, IV & V 517,500 T: 29-Oct-12 : 1-Nov-12
Arya Mahendra Sinulingga 9. ESOP/MSOP Conversion III, IV, V & VI 143,344,500 T: 29-May-13 : 27-Nov-13
10. Revision ESOP/MSOP Conversion III, IV, V & VI -8,000 24-Jun-13 24-Jun-13
HEAD OFFICE 11. ESOP/MSOP Conversion V & VI 176,625,500 T: 28-May-14 : 19-Nov-14
MNC Tower 27th Floor 12. ESOP/MSOP Conversion VIII 15,000 18-Aug-16 18-Aug-16
Jl. Kebon Sirih Kav. 17 - 19
Jakarta 10340
Phone : (021) 390-0885
Fax : (021) 390-4965
Email : investor.relations@mncgroup.com
corsec.mncholding@mncgroup.com


TRADING ACTIVITIES
Media Nusantara Citra Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
3,200 480 Jan-15 2,905 2,460 2,860 58,171 413,394 1,160,725 21
Feb-15 3,150 2,800 3,150 88,106 421,290 1,283,964 19
2,800 420 Mar-15 3,160 2,725 2,865 75,423 367,509 1,087,081 22
Apr-15 2,880 2,200 2,205 65,901 462,054 1,284,744 21
May-15 2,345 2,050 2,060 65,110 320,034 708,945 19
2,400 360
Jun-15 2,180 1,815 1,940 58,576 275,467 547,239 21
Jul-15 2,125 1,830 2,045 43,492 245,312 484,833 19
2,000 300
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
1,600 240
Oct-15 2,000 1,630 1,785 76,795 316,534 573,119 21
Nov-15 1,840 1,595 1,625 38,242 108,085 184,152 21
1,200 180 Dec-15 1,925 1,635 1,855 36,738 153,831 273,103 19
800 120 Jan-16 1,870 1,185 1,190 56,486 529,219 764,824 20

Feb-16 2,050 1,190 1,860 98,075 938,608 1,413,108 20
400 60 Mar-16 2,220 1,810 2,180 89,938 622,524 1,274,909 21
Apr-16 2,415 1,960 2,350 67,257 621,218 1,402,403 21
May-16 2,370 2,040 2,100 58,610 490,138 1,117,685 20
Jun-16 2,360 2,090 2,200 49,067 366,494 817,268 22
Jul-16 2,330 2,120 2,150 41,555 274,504 612,491 16
Aug-16 2,320 1,780 1,920 83,815 595,158 1,210,038 22
Sep-16 2,120 1,845 2,020 65,762 542,254 1,092,521 21
Trade, Sevices and Investment Index Nov-16 2,120 1,640 1,735 67,861 405,014 733,066 22
45%
Jan-17 1,810 1,625 1,695 34,701 274,029 474,246 21
30% Feb-17 1,715 1,495 1,660 58,961 505,787 819,734 19
24.6% Mar-17 1,850 1,610 1,850 54,977 521,093 887,844 22
15% Apr-17 1,910 1,685 1,825 49,862 281,494 510,372 17
May-17 2,050 1,720 1,900 89,311 467,092 889,858 20
- Jun-17 1,970 1,795 1,840 36,667 200,942 379,448 15
Jul-17 1,855 1,700 1,800 43,135 232,977 414,990 21
-9.5%
Aug-17 1,800 1,435 1,490 56,593 382,380 582,696 22
-15%
Sep-17 1,490 1,285 1,320 56,158 452,055 610,392 19
Oct-17 1,595 1,310 1,560 63,089 427,920 637,182 22
-30%
Nov-17 1,690 1,300 1,300 117,494 1,207,519 1,716,652 22
Dec-17 1,360 1,225 1,285 54,477 568,072 731,628 17
-45%
Jan-18 1,565 1,275 1,525 68,430 651,655 940,502 22

-60% Feb-18 1,650 1,200 1,535 86,578 475,376 732,518 19
-67.2% Mar-18 1,555 1,345 1,415 95,059 514,427 757,894 21
-75% Apr-18 1,500 1,250 1,325 132,958 501,308 717,334 21
Jun-18 1,225 900 920 49,299 504,029 546,154 13
Jul-18 1,045 850 985 63,757 384,036 361,322 22
SHARES TRADED 2015 2016 2017 2018 Jan-19 Aug-18 1,085 890 905 78,181 460,169 451,198 21
Volume (Million Sh.) 3,459 6,206 5,521 6,485 896 Sep-18 910 805 805 49,525 403,572 343,001 19
Value (Billion Rp) 8,250 12,040 8,655 7,058 725 Oct-18 835 700 780 94,339 542,584 420,703 23
Days 244 246 237 240 22 Dec-18 825 690 690 43,915 1,014,331 756,576 18
Price (Rupiah) Jan-19 920 675 845 58,845 895,720 725,144 22

High 3,160 2,415 2,050 1,650 920
Low 1,410 1,185 1,225 690 675
Close 1,855 1,755 1,285 690 845
Close* 1,855 1,755 1,285 690 845
PER (X) 22.34 13.02 12.27 7.47 9.15

PER Industry (X) 14.53 19.07 17.44 5.25 6.49
PBV (X) 2.77 2.57 1.90 0.94 1.15


Public Accountant : Kanaka Puradiredja, Suhartono
Receivables 3,215,473 3,395,309 3,053,716 2,942,929 3,274,642

1,634,832 1,593,231 1,950,303 2,358,897 2,678,163 13,000
Inventories
Current Assets 8,670,175 7,726,851 6,638,010 6,718,435 7,819,995
9,750
Fixed Assets 2,659,203 4,145,497 4,824,369 5,306,989 5,777,477
Other Assets 530,609 78,920 108,322 173,375 173,771
6,500
Total Assets 13,609,033 14,474,557 14,239,867 15,057,291 16,007,237
Growth (%) 6.36% -1.62% 5.74% 6.31% 3,250
Current Liabilities 892,276 1,039,805 4,198,739 1,459,288 1,641,240 -

Long Term Liabilities 3,323,544 3,868,359 554,030 3,796,920 3,842,840 2014 2015 2016 2017 Sep-18
Growth (%) 16.42% -3.17% 10.59% 4.34%
Paid up Capital 1,427,609 1,427,609 1,427,610 1,427,610 1,427,610 9,566 9,487 9,801
9,393
10,523

Par Value 100 100 100 100 100
8,376

Total Equity 9,393,213 9,566,393 9,487,098 9,801,083 10,523,157
6,230
Growth (%) 1.84% -0.83% 3.31% 7.37% 4,083
Total Revenues 6,665,978 6,444,935 6,730,276 7,052,686 5,530,036

Growth (%) -3.32% 4.43% 4.79%
-210
2014 2015 2016 2017 Sep-18
Cost of Revenues 2,813,381 2,860,607 2,874,751 2,670,473 2,248,831

Gross Profit 3,852,597 3,584,328 3,855,525 4,382,213 3,281,205
Expenses (Income) 1,310,455 1,903,550 1,702,593 1,966,563 1,868,045
6,666 6,730
6,445
Growth (%)
7,053
5,530
5,614

Tax 660,347 403,810 669,977 848,104 321,899

Growth (%) -32.14% 16.13% 5.70%

1,298
Period Attributable 1,761,994 1,185,670 1,368,677 1,453,313 989,073 -141
Current Ratio (%) 971.69 743.11 158.10 460.39 476.47
1,882
Dividend (Rp) 63.00 - 42.00 15.00 - 1,882
EPS (Rp) 123.42 83.05 95.87 101.80 69.28 1,568

1,483
BV (Rp) 657.97 670.10 664.54 686.54 737.12 1,498
1,277
DAR (X) 0.31 0.34 0.33 0.35 0.34 1,091
DER(X) 0.45 0.51 0.50 0.54 0.52
1,114
ROA (%) 13.83 8.82 10.41 10.41 6.82 730
ROE (%) 20.03 13.35 15.63 15.99 10.37

GPM (%) 57.79 55.61 57.29 62.14 59.33 346
OPM (%) - - - - -
NPM (%) 28.23 19.81 22.03 22.23 19.73
-38
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 51.04 - 43.81 14.73 -
Yield (%) 2.48 - 2.39 1.17 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

PERUSAHAAN GAS NEGARA TBK.

Company Profile
PT Perusahaan Gas Negara (Persero) Tbk. was established in 1859. On May 13th, 1965, the Company
was stated as state owned enterprise and known as Perusahaan Negara Gas (PN. Gas).
The status of the Company was changed from a public service enterprise (Perum) to a state-owned
limited liability company (Persero) and the name was changed to PT Perusahaan Gas Negara (Persero)
based on Government Regulation No. 37/1994.
The Company’s purposes are to implement and support the Government’s economic and national
development programs, particularly in developing uses of natural gas for the benefit of the public as
well as in the supply of a sufficient volume and quality of gas for public consumption. To achieve these
objectives, the Company carries out planning, construction, operating and development of natural gas
downstream business which includes processing, transporting, storing and trading, planning,
construction, production development, supplying and distribution of processed gas; or other
businesses which support the foregoing activities in accordance with prevailing laws and regulations.
Currently, the Company’s principal business was the distribution and transmission of natural gas to
industrial, commercial and household users.
To achieve responsive sales target, the Company has divided its business areas into three Regional
Distribution (RD) and one Regional Transmission (RT), as follows:
1. Regional Distribution I, covers Jakarta, Western Java Region until South Sumatera,
2. Regional Distribution II, covers Eastern Java Region, Semarang, Tarakan and Sorong
3. Regional Distribution III, covers Medan, Batam, Pekan Baru, and Dumai
4. Regional Transmission covers Sumatera-Java Region-the Riau Islands.
The company has ownership in subsidiaries: PT PGAS Telekomunikasi Nusantara, PT PGAS Solution, PT
Saka Energi Indonesia, PT Gagas Energi Indonesia, PT PGN LNG Indonesia, PT Permata Graha Nusantara.
In 2018 the company received awards: Best Competency Management and Effectiveness of the Best
HC Index from Dunamis (Indonesian Organizational Services in Human Resource Studies), Human
Resources (HR) atau Human Capital Management (HCM) and Annual Report Category, Sustainable
and Responsible Investment (SRI)-KEHATI Award 2018, etc.
The Company’s had Office si located at Jl. KH. Zainul Arifin No.20, Krukut, Tamansari, Jakarta. As of
September 30th, 2018, the company and subsidiaries had a total of 2,316 employees.
February 2019
Disclaimer:

PGAS Perusahaan Gas Negara Tbk.

Industry Sub Sector : Energy (71) Market Capitalization : 62,300,676,063,720
21 | 62.3T | 0.84% | 59.41%
8 | 48.6T | 2.34% | 31.85%

Established Date : 01-Feb-1905 1. PT Pertamina (Persero) 13,809,038,755 : 56.96%
Underwriter IPO :
PT. Danareksa Sekuritas (Affiliated) DIVIDEND ANNOUNCEMENT
PT. ABN AMRO Asia Securities Indonesia Bonus Cash Recording Payment
F/I
2004 1.71 23-Dec-04 27-Dec-04 29-Dec-04 30-Dec-04 I
1. Ign. Wiratmaja Puja 2005 104.43 30-Jun-06 3-Jul-06 5-Jul-06 14-Jul-06 F
2. Hambra 2006 208.45 22-Jun-07 25-Jun-07 27-Jun-07 11-Jul-07 F
3. Kiswodarmawan *) 2008 41.74 15-Jul-09 16-Jul-09 21-Jul-09 4-Aug-09 F
4. M. Ikhsan 2009 10.00 8-Dec-09 9-Dec-09 11-Dec-09 23-Dec-09 I
5. Paiman Rahardjo *) 2009 144.20 8-Jul-10 9-Jul-10 13-Jul-10 27-Jul-10 F
*) Independent Commissioners 2010 10.20 27-Dec-10 28-Dec-10 30-Dec-10 4-Jan-11 I
2010 144.24 19-Jul-11 20-Jul-11 22-Jul-11 4-Aug-11 F
BOARD OF DIRECTORS 2011 10.87 30-Nov-11 1-Dec-11 5-Dec-11 16-Dec-11 I
1. Gigih Prakoso 2011 123.75 12-Jun-12 13-Jun-12 15-Jun-12 29-Jun-12 F
2. Danny Praditya 2012 202.77 10-May-13 13-May-13 15-May-13 29-May-13 F
3. Desima Equalita Siahaan 2013 210.40 28-Apr-14 29-Apr-14 2-May-14 19-May-14 F
4. Dilo Seno Widagdo 2016 75.18 12-May-17 15-May-17 17-May-17 7-Jun-17 F
5. Said Reza Pahlevy 2017 31.61 4-May-18 7-May-18 9-May-18 30-May-18 F
AUDIT COMMITTEE ISSUED HISTORY

1. Paiman Rahardjo Listing Trading
2. Hambra No. Type of Listing Shares Date Date
3. Kurnia Sari Dewi 1. First Issue 1,296,296,000 15-Dec-03 15-Dec-03
4. Luki Karunia 2. Company Listing 3,024,691,000 T: 15-Dec-03 : 15-Jun-04
3. MSOP Conversion 215,637,305 T: 13-Dec-04 : 28-Dec-06
CORPORATE SECRETARY 4. MSOP Conversion II 3,261,500 T: 10-Nov-06 : 16-Feb-07
Rachmat Hutama 5. ESOP Conversion 53,551,388 T: 18-Jan-08 : 19-Feb-08
6. Stock Split 18,373,748,772 4-Aug-08 4-Aug-08
HEAD OFFICE 7. Government Project Fund Conversion 1,274,322,231 T: 16-Apr-09 : 16-Oct-09
Jl. KH. Zainul Arifin No. 20, Krukut, Tamansari
Jakarta - 11140
Indonesia
Phone : (021) 633-4838
Fax : (021) 633-3080
Email : corporate@pgn.co.id
investor.relations@pgn.co.id
contact.center@pgn.co.id


TRADING ACTIVITIES
Perusahaan Gas Negara Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
6,000 1,600 Jan-15 6,050 4,995 5,050 92,906 887,651 4,816,967 21
Feb-15 5,500 5,050 5,200 66,654 624,549 3,312,449 19
5,250 1,400 Mar-15 5,400 4,600 4,800 96,871 782,389 3,975,099 22
Apr-15 4,890 4,100 4,100 121,106 952,937 4,338,820 21
May-15 4,360 3,855 4,295 106,169 768,554 3,183,949 19
4,500 1,200
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
3,750 1,000
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
3,000 800
Oct-15 3,160 2,535 3,000 125,908 1,030,877 3,030,555 21
Nov-15 3,080 2,560 2,655 94,906 782,374 2,261,286 21
2,250 600 Dec-15 2,915 2,305 2,745 96,859 569,389 1,521,635 19
1,500 400 Jan-16 2,770 2,350 2,405 96,049 607,085 1,517,643 20

Feb-16 2,720 2,365 2,635 83,348 1,011,133 2,548,238 20
750 200 Mar-16 2,760 2,585 2,615 91,592 1,160,564 3,080,358 21
Apr-16 2,860 2,555 2,620 115,718 1,454,665 3,904,125 21
May-16 2,620 2,170 2,480 88,312 835,314 2,007,454 20
Jun-16 2,560 2,270 2,340 71,250 675,312 1,651,499 22
Jul-16 3,440 2,340 3,290 137,007 1,862,286 5,379,890 16
Aug-16 3,520 2,920 3,020 126,142 1,542,283 5,002,784 22
Sep-16 3,000 2,630 2,870 104,517 1,443,381 4,059,641 21
Infrastructure, Utilities and Transportation Index Nov-16 2,690 2,200 2,650 81,469 661,513 1,637,985 22
60%
Jan-17 2,900 2,580 2,880 62,106 505,603 1,403,585 21
40% Feb-17 3,050 2,680 2,830 58,894 660,069 1,874,921 19
Mar-17 2,850 2,410 2,530 97,897 811,989 2,084,960 22
24.6%
20% Apr-17 2,560 2,360 2,430 55,081 644,313 1,589,096 17
May-17 2,570 2,270 2,400 94,106 707,003 1,710,589 20
- 1.2% Jun-17 2,470 2,240 2,250 53,939 438,428 1,031,920 15
Jul-17 2,390 2,200 2,250 60,234 623,981 1,423,338 21
Aug-17 2,260 2,060 2,120 71,621 610,051 1,322,942 22
-20%
Sep-17 2,110 1,455 1,575 145,060 1,650,177 2,782,081 19
Oct-17 1,900 1,365 1,840 194,826 3,213,317 5,153,464 22
-40%
Nov-17 1,890 1,685 1,700 89,144 989,515 1,789,044 22
Dec-17 1,800 1,555 1,750 62,999 862,905 1,467,437 18
-60% -57.0%
Jan-18 2,860 1,725 2,610 304,921 4,396,458 10,485,910 22

-80% Feb-18 2,760 2,240 2,670 175,152 2,451,212 6,173,790 19
Mar-18 2,700 2,120 2,300 132,335 1,788,412 4,294,365 21
-100% Apr-18 2,450 1,955 1,985 125,570 1,542,645 3,480,050 21
Jun-18 2,320 1,820 1,995 95,455 1,062,740 2,223,787 13
Jul-18 2,090 1,505 1,700 212,234 2,283,129 3,815,355 22
Days 244 246 238 240 22 Dec-18 2,200 1,935 2,120 135,062 1,548,807 3,251,589 18
Price (Rupiah) Jan-19 2,640 2,140 2,570 155,583 1,952,067 4,603,351 22

High 6,050 3,520 3,050 2,860 2,640
Low 2,150 2,170 1,365 1,505 2,140
Close 2,745 2,700 1,750 2,120 2,570
Close* 2,745 2,700 1,750 2,120 2,570
PER (X) 12.02 15.61 21.87 11.84 14.35

PER Industry (X) 9.49 8.16 16.02 9.50 10.05
PBV (X) 1.60 1.62 0.98 1.04 1.26


Receivables 5,127,138 5,675,984 7,459,754 7,170,964 8,621,282

813,171 636,891 877,280 823,999 960,371 80,000
Inventories
Current Assets 23,148,543 25,247,134 28,547,123 24,495,434 37,225,834
60,000
Fixed Assets 30,914,540 28,269,719 24,569,486 23,118,494 24,558,047
Other Assets 97,613 85,452 67,748 71,881 23,104
40,000
Total Assets 77,320,775 95,197,541 91,823,679 85,259,312 99,437,189
Growth (%) 23.12% -3.54% -7.15% 16.63% 20,000

Growth (%) 25.78% -3.27% -14.52% 18.66%
Paid up Capital 2,424,151 2,424,151 2,424,151 2,424,151 2,424,151 44,305
42,595 43,176
49,500

36,861
Par Value 100 100 100 100 100
39,402

Total Equity 36,860,588 44,305,239 42,594,718 43,176,296 49,499,760
29,304
Growth (%) 20.20% -3.86% 1.37% 14.65% 19,206
Total Revenues 42,402,860 44,979,267 39,431,687 40,232,030 36,497,333

Growth (%) 6.08% -12.33% 2.03%
-990
2014 2015 2016 2017 Sep-18
Cost of Revenues 24,180,642 30,862,955 27,514,762 29,431,133 26,278,498

Gross Profit 18,222,218 14,116,312 11,916,925 10,800,896 10,218,835
Expenses (Income) 6,005,405 5,827,914 5,948,087 5,693,077 4,396,920
42,403
40,232
Growth (%) -32.16% -27.99% -14.43% 39,432
44,979
36,497
35,803
Other Income (Expenses) -40,971 -1,793,392 -796,178 -1,374,668 -836,742

Tax 2,874,809 591,768 1,026,527 1,730,974 1,712,360

Growth (%) -36.53% -29.77% -51.71%

8,276
Current Ratio (%) 170.62 258.13 260.58 387.44 428.48
9,301
Dividend (Rp) - - 75.18 31.61 - 9,301
EPS (Rp) 370.90 242.58 168.67 80.00 134.34

BV (Rp) 1,520.56 1,827.66 1,757.10 1,781.09 2,041.94 7,404
5,903
DAR (X) 0.52 0.53 0.54 0.49 0.50
DER(X) 1.10 1.15 1.16 0.97 1.01
5,506
4,146
ROA (%) 12.03 6.20 4.52 2.35 3.29 3,609
3,273
ROE (%) 25.23 13.32 9.73 4.64 6.61 2,002

GPM (%) 42.97 31.38 30.22 26.85 28.00 1,711
OPM (%) 28.81 18.43 15.14 12.70 15.95

NPM (%) 21.93 13.12 10.51 4.98 8.97
-186
2014 2015 2016 2017 Sep-18

Payout Ratio (%) - - 44.57 39.51 -
Yield (%) - - 2.78 1.81 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

BUKIT ASAM TBK.

Company Profile
PT Bukit Asam Tbk., was established on March 2, 1981, based on Government Regulation No. 42 year
1980. In 1950, the Government of the Republic of Indonesia ratified the establishment of Perusahaan
Negara Tambang Arang Bukit Asam (PN TABA). On March 2, 1981, PN TABA changed its status into
Limited Liability Company under the name of PT Tambang Batubara Bukit Asam (Persero), which is later
called PTBA or the Company. In order to improve the development of coal industry in Indonesia, in
1990, the Government merged Perum Tambang Batubara and the Company into a single entity.
The scope of activities of the Company and its subsidiaries comprises coal mining activities, including
general surveying, exploration, exploitation, processing, refining, transportation and trading,
maintenance of special coal port facilities for internal and external needs, operation of steam power
plants for internal and external needs and providing consulting services related to the coal mining
industry as well as its derivative products.
In 2018 the Company was awarded as The Best Overall BUMN Award in Anugerah BUMN Awards,
Padmamitra Award 2018, The Asian Export Awards 2018 metal and mining category, Indonesia Green
Awards 2018 Pioneering Pollution Prevention, Developing Biodiversity, and Developing Renewable
Energy on Technology Techniques categories, Indonesia Most Trusted Company at Good Corporate
Governance Award 2018, etc.
The Company is located at Jl. Parigi No. 1 Tanjung Enim 31716, Sumatera Selatan. As of September 30th,
2018, the Company had a total of 2,155 permanent employees.
February 2019
Disclaimer:

PTBA Bukit Asam Tbk.

24 | 49.7T | 0.67% | 61.54%
12 | 33.7T | 1.62% | 40.02%

Established Date : 02-Mar-1981 1. PT Indonesia Asahan Aluminium (Persero) 7,490,437,495 : 65.02%
Listing Date : 23-Dec-2002 (IPO Price: 575) 2. PT Bukit Asam Tbk. 980,283,500 : 8.51%
PT Danareksa Sekuritas (Affiliated)
F/I
1. Agus Suhartono *) 2003 58.00 9-Jun-04 10-Jun-04 14-Jun-04 21-Jun-04 F
2. Heru Setyobudi Suprayogo 2004 5.80 22-Dec-04 23-Dec-04 28-Dec-04 29-Dec-04 I
3. Jhoni Ginting 2004 87.48 5-Jul-05 6-Jul-05 8-Jul-05 22-Jul-05 F
4. Johan O. Silalahi *) 2005 101.54 2-Jun-06 5-Jun-06 7-Jun-06 16-Jun-06 F
5. Robert Heri 2006 105.39 29-May-07 30-May-07 4-Jun-07 15-Jun-07 I
6. Taufik Madjid 2007 164.97 18-Jun-08 19-Jun-08 23-Jun-08 7-Jul-08 F
*) Independent Commissioners 2009 66.75 25-Nov-09 26-Nov-09 1-Dec-09 15-Dec-09 I
2009 466.65 26-May-10 27-May-10 1-Jun-10 15-Jun-10 F
BOARD OF DIRECTORS 2010 66.75 20-Dec-10 21-Dec-10 23-Dec-10 29-Dec-10 I
1. Arviyan Arifin 2010 456.37 4-Jul-11 5-Jul-11 7-Jul-11 21-Jul-11 F
2. Adib Ubaidillah 2011 103.46 28-Nov-11 29-Nov-11 1-Dec-11 15-Dec-11 I
3. Fuad Iskandar Zulkarnain Fachroeddin 2011 700.48 29-May-12 30-May-12 1-Jun-12 15-Jun-12 F
4. Joko Pramono 2012 720.75 20-May-13 21-May-13 23-May-13 7-Jun-13 F
5. Mega Satria 2013 461.97 28-Apr-14 29-Apr-14 2-May-14 16-May-14 F
6. Suryo Eko Hadianto 2014 324.57 7-Apr-15 8-Apr-15 10-Apr-15 30-Apr-15 I
2015 289.73 21-Apr-16 22-Apr-16 26-Apr-16 18-May-16 F
AUDIT COMMITTEE 2016 285.50 28-Apr-17 2-May-17 4-May-17 24-May-17 F
1. Johan O. Silalahi 2017 318.52 18-Apr-18 19-Apr-18 23-Apr-18 11-May-18 F
2. Ai Supardini
3. Barlian Dwinegara ISSUED HISTORY
Listing Trading
CORPORATE SECRETARY No. Type of Listing Shares Date Date
Suherman 1. First Issue 346,500,000 23-Dec-02 23-Dec-02
2. Company Listing 1,785,000,000 23-Dec-02 23-Dec-02
HEAD OFFICE 3. Warrant 172,631,850 T: 14-Dec-04 : 28-Dec-05
Jl. Parigi No.1 Tanjung Enim 4. Stock Split 9,216,527,400 14-Dec-17 14-Dec-17
Sumatera Selatan 31716
Phone : (021) 525-4014
Fax : (021) 525-4002
Email : corsec@bukitasam.co.id
suherman@bukitasam.co.id


TRADING ACTIVITIES
Bukit Asam Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
5,000 320 Jan-15 12,525 10,100 11,375 41,254 60,844 690,666 21
Feb-15 11,725 10,350 10,675 36,099 55,708 616,697 19
4,375 280 Mar-15 11,250 10,150 10,750 36,562 57,946 619,774 22
Apr-15 11,175 9,350 9,350 27,080 36,037 394,197 21
May-15 10,925 9,100 9,825 32,764 50,187 507,612 19
3,750 240
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
3,125 200
Aug-15 6,625 5,025 5,850 39,760 73,026 428,155 20
Sep-15 6,275 5,350 5,625 25,247 47,937 291,890 21
2,500 160
Oct-15 7,550 5,500 7,300 53,867 112,986 784,874 21
Nov-15 7,825 5,600 5,600 60,412 204,268 1,249,230 21
1,875 120 Dec-15 5,800 4,305 4,525 76,121 143,545 708,778 19
1,250 80 Jan-16 4,610 4,150 4,450 44,672 60,404 267,843 20

Feb-16 5,475 4,295 5,075 55,758 109,081 530,510 20
625 40 Mar-16 7,225 5,075 6,275 60,540 157,836 1,005,316 21
Apr-16 7,800 6,125 7,050 52,267 135,945 964,444 21
May-16 7,250 6,125 6,375 36,670 78,690 531,329 20
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
Aug-16 10,900 9,300 9,925 49,123 94,241 971,469 22
Sep-16 10,450 9,075 9,625 33,524 79,943 803,546 21
Mining Index Nov-16 13,775 11,000 11,800 68,734 113,610 1,403,970 22
100%
Jan-17 12,825 10,675 11,600 30,453 47,180 552,513 21
75% 74.1% Feb-17 11,850 10,625 11,175 36,698 57,220 641,083 19
Mar-17 13,350 10,200 13,200 42,277 82,932 961,215 22
50% Apr-17 14,200 11,975 12,675 36,205 64,571 838,708 17
40.5% May-17 12,600 10,525 10,900 39,612 71,810 803,729 20
25% Jun-17 11,975 10,725 11,950 29,865 64,742 735,063 15
24.6%
Jul-17 13,375 11,750 13,100 33,026 50,973 646,176 21
Aug-17 13,975 12,050 12,375 34,381 48,747 640,538 22
-
Sep-17 12,575 9,050 10,450 66,361 145,283 1,492,659 19
Oct-17 11,625 10,000 11,475 54,219 109,637 1,195,861 22
-25%
Nov-17 12,100 10,675 11,250 48,413 85,067 973,299 22
Dec-17 11,575 2,230 2,460 50,027 330,292 1,016,289 18
-50%
Jan-18 3,480 2,430 3,400 90,220 872,026 2,637,990 22

-75% Feb-18 3,430 3,020 3,170 75,684 607,442 1,980,779 19
Mar-18 3,240 2,660 2,940 81,488 584,906 1,705,239 21
-100% Apr-18 3,570 2,950 3,240 96,902 831,016 2,759,370 21
Jun-18 4,280 3,750 3,970 78,935 487,052 1,969,532 13
Jul-18 4,630 3,910 4,480 146,085 825,611 3,528,064 22
Days 244 246 238 240 22 Dec-18 4,520 3,910 4,300 127,850 640,743 2,656,309 18
Price (Rupiah) Jan-19 4,510 4,120 4,310 95,947 370,742 1,620,109 22

High 12,525 13,775 14,200 5,025 4,510
Low 4,305 4,150 2,230 2,430 4,120
Close 4,525 12,500 2,460 4,300 4,310
Close* 905 2,500 2,460 4,300 4,310
PER (X) 5.12 20.54 6.33 9.45 9.48

PER Industry (X) 0.60 -4.41 6.26 -1.03 0.14
PBV (X) 1.12 3.00 2.05 3.32 3.33


Receivables 1,439,401 1,595,580 2,285,065 5,389,678 2,625,000

1,033,360 1,233,175 1,102,290 1,156,012 1,299,173 18,000
Inventories
Current Assets 7,416,805 7,598,476 8,349,927 11,117,745 10,873,742
13,500
Fixed Assets 3,987,565 5,579,117 6,087,746 6,410,363 92,766
Other Assets 119,719 102,318 154,010 515,735 231,123
9,000
Total Assets 14,812,023 16,894,043 18,576,774 21,987,482 22,470,372
Growth (%) 14.06% 9.96% 18.36% 2.20% 4,500

Growth (%) 23.86% 5.49% 2.03% -7.81%
Paid up Capital 1,152,066 1,152,066 1,152,066 1,152,066 1,152,066 14,922
13,800
Par Value 500 500 500 500 500
11,878
10,552
9,288
Total Equity 8,670,842 9,287,547 10,552,405 13,799,985 14,921,935

8,834
Growth (%) 7.11% 13.62% 30.78% 8.13% 5,790
Total Revenues 13,077,962 13,733,627 14,058,869 19,471,030 16,035,628

Growth (%) 5.01% 2.37% 38.50%
-298
2014 2015 2016 2017 Sep-18
Cost of Revenues 9,056,219 9,593,903 9,657,400 10,964,524 9,368,288

Gross Profit 4,021,743 4,139,724 4,401,469 8,506,506 6,667,340
Expenses (Income) 1,711,545 1,725,384 1,870,662 2,607,991 1,493,692
Growth (%) 4.51% 4.82% 133.07%

19,471
16,036
13,734 14,059
13,078
15,499
Other Income (Expenses) 364,528 249,456 202,992 203,114 232,003

Tax 655,512 626,685 672,511 1,554,397 1,411,213

Growth (%) 0.89% -0.62% 124.62%

3,583
Current Ratio (%) 207.51 154.35 165.58 246.34 263.90
4,547
Dividend (Rp) 324.57 289.73 285.50 318.52 -
3,994
4,547
EPS (Rp) 875.02 883.59 870.69 1,942.79 1,705.59

BV (Rp) 3,763.17 4,030.82 4,579.77 5,989.23 6,476.16 3,620
DAR (X) 0.41 0.45 0.43 0.37 0.34

DER(X) 0.71 0.82 0.76 0.59 0.51
2,692
2,019 2,037 2,024

ROA (%) 13.63 12.06 10.90 20.68 17.78 1,764
ROE (%) 23.29 21.93 19.18 32.95 26.77

GPM (%) 30.75 30.14 31.31 43.69 41.58 837
OPM (%) 17.66 17.58 18.00 30.29 32.26

NPM (%) 15.44 14.83 14.40 23.35 24.91
-91
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 37.09 32.79 32.79 16.40 -
Yield (%) 2.60 6.40 2.28 12.95 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

PP (PERSERO) TBK.
Company Profile
PT Pembangunan Perumahan (Persero) Tbk. was established under the name of NV Pembangunan
Perumahan based on the Notarial Deed No. 48 of August 26th, 1953.
The Company's vision and objectives are to take part in construction business industry, fabrication
industry, rental service, agency, investment, agro industry, engineering procurement and
constructions (EPC), trades, site area management, enhancement in construction capability
services, information technology, tourism, hotels business service, engineering and planning
service, development services to produce high quality and highly competitive goods and/or
service, and to generate profit to add value to the entity by applying limited liability company
principles.
The current business activities of the Company are in construction services, real estate
(developer), properties and investment in infrastructure and energy. To increase value to the
Company, the management adopts a corporate strategies on the basis of four business pillars:
Construction, EPC (Energy, Oil & Gas), Investment and Property.
The vision shall become strategic guide lines in facing future challenge, which is: "To become a
leading construction and investment company which provides high added values to all of its
stakeholders". The Company's new vision: "To Be a Leader in Construction and Investment
Company in Indonesia which Internationally Competitive".
The company has ownership in subsidiaries: PT PP Urban (PPUR), PT PP Presisi tbk (PPRE), PT PP
Properti Tbk, PT PP Energi (PPEN), PT PP Infrastruktur (PPIN), PT Sinergi Colomadu (SCM).
In 2018 the company received awards: Marketeers Editor’s Choice Award 2018 with the category
The Game Changer of the Year, Dual Fuel Power Plant of the Year - Gold Award and Geothermal
Power Project of the Year - Gold Award at The Asian Power Awards 2018, the Best of the Best
2018 Companies Award from Forbes Indonesia Magazine, the Best EPC Company in
Indonesia category in the Indonesia Best Electricity Award ("IBEA") 2018, etc.
The Company’s head office is located at Plaza PP 7th floor, Jl. Letjend. T. Simatupang No.57, Pasar
Rebo, Jakarta 13760. As of September 30th, 2018 the Company had 2,136 employees.
February 2019
Disclaimer:

PTPP PP (Persero) Tbk.

Industry Sub Sector : Building Construction (62) Market Capitalization : 14,507,759,808,360
78 | 14.5T | 0.20% | 80.74%
51 | 10.1T | 0.49% | 75.08%

Established Date : 26-Aug-1953 1. Republic of Indonesia 3,161,947,836 : 51.00%
Listing Date : 09-Feb-2010 (IPO Price: 560) 2. Public (<5%) 3,037,949,518 : 49.00%
Underwriter 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 9-Jul-10 12-Jul-10 14-Jul-10 28-Jul-10 F
PT BSR Indonesia 2010 14.57 7-Jul-11 8-Jul-11 12-Jul-11 15-Jul-11 F
2011 14.88 7-Jun-12 8-Jun-12 12-Jun-12 15-Jun-12 F
BOARD OF COMMISSIONERS 2012 19.19 22-May-13 23-May-13 27-May-13 10-Jun-13 F
1. Andi Gani Nena Wea *) 2013 26.06 21-Apr-14 22-Apr-14 24-Apr-14 7-May-14 F
2. Arie Setiadi Moerwanto 2014 21.97 28-May-15 29-May-15 3-Jun-15 18-Jun-15 F
3. Aryanto Sutadi *) 2016 49.52 23-Mar-17 24-Mar-17 29-Mar-17 13-Apr-17 F
4. Muhammad Khoerur Roziqin 2017 46.88 4-May-18 7-May-18 9-May-18 25-May-18 F
5. Sumardi
6. Wismana Adi Suryabrata ISSUED HISTORY
*) Independent Commissioners Listing Trading
BOARD OF DIRECTORS 1. Negara RI (Series A) 1 9-Feb-10 0-Jan-00
1. Lukman Hidayat 2. Public Offering 1,038,976,500 9-Feb-10 9-Feb-10
2. Abdul Haris Tatang 3. Company Listing 2,469,642,759 9-Feb-10 9-Feb-10
3. Agus Purbianto 4. PP Employees Cooperative 1,333,817,240 9-Feb-10 8-Oct-10
4. Anton Satyo Hendrianto 5. Right Issue 194,201,459 15-Dec-16 15-Dec-16
5. M. Aprindy 6. Right Issue 802,295,711 16-Dec-16 16-Dec-16
6. Mohamad Toha Fauzi 7. Right Issue 251,487,198 19-Dec-16 19-Dec-16
8. Right Issue 90,074,959 21-Dec-16 21-Dec-16
AUDIT COMMITTEE 9. Right Issue 19,401,527 27-Dec-16 27-Dec-16
1. Aryanto Sutadi
2. Handoko Tripriyono
3. Sularso
CORPORATE SECRETARY
Agus Samuel Kana
HEAD OFFICE
PP Plaza
Jl. Letjend. TB Simatupang No.57 Pasar Rebo
Jakarta 13760
Phone : (021) 877-927343
Fax : (021) 877-927343
Homepage : www.pt-pp.com
Email : corsec@pt-pp.com
Info@pp.co.id


TRADING ACTIVITIES
PP (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,600 160 Jan-15 3,925 3,475 3,915 56,124 403,485 1,503,473 21
Feb-15 4,245 3,850 4,060 50,094 269,943 1,079,418 19
4,025 140 Mar-15 4,070 3,645 3,795 60,287 350,386 1,344,045 22
Apr-15 4,100 3,600 3,925 50,080 355,458 1,380,910 21
May-15 4,215 3,800 4,020 40,119 176,464 711,806 19
3,450 120
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
2,875 100
Aug-15 3,960 2,960 3,310 68,100 249,986 862,115 20
Sep-15 3,585 3,110 3,465 42,260 165,650 568,854 21
2,300 80
Oct-15 3,930 3,470 3,810 43,871 192,689 719,571 21
Nov-15 3,905 3,625 3,625 26,147 92,107 346,353 21
1,725 60 Dec-15 3,920 3,600 3,875 20,317 66,476 250,396 19
1,150 40 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
575 20 Mar-16 3,985 3,670 3,860 37,755 159,238 608,761 21
Apr-16 3,895 3,550 3,665 25,658 124,271 465,637 21
May-16 3,720 3,300 3,700 24,761 105,027 373,538 20
Jun-16 3,980 3,600 3,900 35,263 269,621 1,039,186 22
Jul-16 4,170 3,780 3,860 25,698 185,919 730,981 16
Aug-16 4,850 3,820 4,350 56,495 369,885 1,623,553 22
Sep-16 4,690 3,970 4,190 49,366 315,966 1,369,699 21
Property, Real Estate and Bulding Construction Index Nov-16 4,260 3,880 4,250 33,444 173,932 702,795 22
45%
Jan-17 3,840 3,440 3,590 41,657 322,631 1,170,603 21
30% Feb-17 3,810 3,470 3,480 35,899 302,769 1,097,521 19
24.6% Mar-17 3,630 3,250 3,310 55,119 503,864 1,712,769 22
15% Apr-17 3,510 3,000 3,180 43,801 464,183 1,514,204 17
May-17 3,230 2,690 3,130 88,165 958,387 2,808,838 20
- Jun-17 3,250 3,040 3,140 25,550 206,278 647,407 15
Jul-17 3,370 2,840 3,030 46,285 395,937 1,225,815 21
-12.6% Aug-17 3,110 2,760 2,810 39,315 355,483 1,046,281 22
-15%
Sep-17 2,810 2,250 2,310 48,166 362,500 910,082 19
Oct-17 2,960 2,330 2,850 63,547 596,347 1,614,411 22
-30% -31.4% Nov-17 2,940 2,560 2,570 31,063 234,423 653,334 22
Dec-17 2,720 2,360 2,640 35,709 251,671 646,311 18
-45%
Jan-18 3,280 2,550 3,130 66,169 578,960 1,748,989 22

-60% Feb-18 3,230 2,910 3,100 36,145 286,611 882,682 19
Mar-18 3,170 2,570 2,610 36,668 282,028 808,877 21
-75% Apr-18 2,880 2,370 2,430 27,530 188,501 507,122 21
Jun-18 2,680 1,840 1,995 22,067 219,190 533,345 13
Jul-18 2,290 1,930 2,080 36,775 262,850 556,210 22
Days 244 246 238 240 22 Dec-18 2,070 1,795 1,805 67,037 490,669 960,083 18
Price (Rupiah) Jan-19 2,450 1,815 2,340 102,338 843,942 1,851,937 22

High 4,245 4,850 3,840 3,280 2,450
Low 2,960 3,300 2,250 1,330 1,815
Close 3,875 3,810 2,640 1,805 2,340
Close* 3,683 3,810 2,640 1,805 2,340
PER (X) 25.35 31.26 11.26 9.60 12.44

PER Industry (X) 13.36 24.89 14.52 27.07 28.17
PBV (X) 3.67 4.12 1.15 0.73 0.95


Public Accountant : Satrio Bing Eny & Partners (member of Deloitte)
Receivables 3,135,044 4,111,735 6,297,782 8,303,437 12,534,315

39,000
Inventories 2,570,346 2,498,625 2,655,638 2,420,508 3,890,158

29,250
Investment 417,692 622,833 634,235 1,766,580 2,345,049
Fixed Assets 493,576 2,989,066 4,177,883 5,789,644 8,357,243
19,500
Other Assets - - 21,204 17,525 80,195
Total Assets 14,611,865 19,128,812 31,232,767 41,782,781 48,612,906
9,750
Growth (%) 30.91% 63.28% 33.78% 16.35%
-
Growth (%) 14.63% 45.87% 34.76% 21.11%
15,259
Authorized Capital 1,500,000 1,500,000 1,500,000 2,500,000 2,500,000 15,259 14,243
Paid up Capital 484,244 484,244 619,990 619,990 619,990

12,146
10,796
Par Value 100 100 100 100 100

9,033
Total Equity 2,390,270 5,119,072 10,796,158 14,243,110 15,259,148 5,921

5,119
Growth (%) 114.16% 110.90% 31.93% 7.13%
2,390
2,808

Total Revenues 12,427,371 14,217,373 16,458,884 21,502,260 14,786,949
-305
2014 2015 2016 2017 Sep-18

Growth (%) 14.40% 15.77% 30.64%
Cost of Revenues 10,877,659 12,210,412 14,003,355 18,250,798 12,559,131

Gross Profit 1,549,712 2,006,961 2,455,530 3,251,462 2,227,819
Operating Expenses 281,280 409,797 487,330 726,106 600,057 21,502
Operating Profit 1,268,432 1,597,164 1,968,199 - 1,627,762

21,502
Growth (%) 25.92% 23.23% -100.00% 16,459

14,217 14,787
17,116
12,427
Income Before Tax 920,901 1,287,534 1,703,610 1,792,262 1,135,109

Tax 387,380 441,971 552,178 68,409 13,844 8,343
Profit for the period 533,521 845,563 1,151,432 1,723,853 1,121,265

Growth (%) 58.49% 36.17% 49.71%
3,956
-430
Period Attributable 533,407 740,323 1,023,369 1,453,141 874,673 2014 2015 2016 2017 Sep-18
Comprehensive Income 520,263 2,037,652 1,277,066 1,808,446 1,104,753
Comprehensive Attributable 520,148 1,932,412 1,149,004 1,522,097 858,201
Dividend (Rp) 21.97 - 49.52 46.88 - 1,724
EPS (Rp) 110.18 174.62 185.72 278.05 180.85

BV (Rp) 493.61 1,057.13 1,741.34 2,297.31 2,461.19 1,372
1,151 1,121
DAR (X) 0.84 0.73 0.65 0.66 0.69
846
DER(X) 5.11 2.74 1.89 1.93 2.19
1,021
ROA (%) 3.65 4.42 3.69 4.13 2.31 669

534
ROE (%) 22.32 16.52 10.67 12.10 7.35
GPM (%) 12.47 14.12 14.92 15.12 15.07 317
OPM (%) 10.21 11.23 11.96 - 11.01

NPM (%) 4.29 5.95 7.00 8.02 7.58
-34
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 19.94 - 26.66 16.86 -
Yield (%) 1.44 - 3.25 3.07 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

PAKUWON JATI TBK.
Company Profile
PT Pakuwon Jati Tbk established in 1982 and listed on both the Jakarta and Surabaya Stock exchanges
since 1989, Pakuwon Jati is a diversified real estate developer focused in Jakarta and Surabaya. The
Company's portfolio of prime properties includes retail, residential, commercial and hospitality
developments. The Company is vertically integrated across the full real estate value chain from land
acquisition, property development, marketing and operational management.
Pakuwon Jati is the pioneer of the Superblock concept in Indonesia, a large-scale integrated mixed-use
development of retail shopping mall, office, condominium and hotel. Its successfull track record and
reputation within the property industry has secured strong long-term relationship with tenants and
buyers, which provides a stable platform for rapid business expansion.
In 2018 the Company recieved an The Best Hotel Buffet, The Most Popular Shopping Mall for Millenial
Buyers, Indonesia The Best Public Companies Based on WAI 2018, The Inspiring Business Leader from
Property Indonesia Award 2018, Top Property Award in Achieving the Top Property, etc.
The Company is domiciled in Surabaya with its office located at Eastcoast Center 5th Floor, Pakuwon
Town Square – Pakuwon City, Jl. Kejawan Putih Mutiara No. 17, Surabaya 60112, Indonesia,. As of
March 31st, 2018, the Company and its subsidiaries had 3,107 employees.
February 2019
Disclaimer:

PWON Pakuwon Jati Tbk.

Industry Sub Sector : Property And Real Estate (61) Market Capitalization : 31,303,741,560,000
40 | 31.3T | 0.42% | 70.09%
65 | 6.41T | 0.31% | 80.54%

Established Date : 20-Sep-1982 1. PT Pakuwon Arthaniaga 24,759,548,800 : 51.41%
Listing Date : 09-Oct-1989 (IPO Price: 7,300) 2. Bank Julius Baer Co., Ltd. 3,000,000,000 : 6.23%
Underwriter IPO : 3. PT Pakuwon Arthaniaga 2,747,919,760 : 5.71%
PT (Persero) Danareksa 4. JPMCB Na Re- PT Pakuwon 2,570,129,840 : 5.34%
PT Inter-Pacific Financial Corporation
PT Sirca Datapro Perdana Bonus Cash Recording Payment
F/I
1. Alexander Tedja 1990 75.00 28-Feb-91 1-Mar-91 8-Mar-91 8-Apr-91 F
2. Dyah Pradnyaparamita Duarsa *) 1991 30.00 10-Jun-92 12-Jun-92 19-Jun-92 20-Jul-92 F
3. Richard Adisastra *) 1991 2:1 23-Nov-92 24-Nov-92 1-Dec-92 23-Dec-92 BS
*) Independent Commissioners 1992 25.00 9-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 Stephanus Ridwan Suhendra 1995 17.50 30-May-96 31-May-96 10-Jun-96 8-Jul-96 F
2. Eiffel Tedja 1996 25.00 27-Jun-97 30-Jun-97 8-Jul-97 6-Aug-97 F
3. Lauw, Syane Wahyuni Loekito 2011 1.45 9-Oct-12 10-Oct-12 12-Oct-12 25-Oct-12 F
4. Minarto Basuki 2012 3.50 8-Oct-13 9-Oct-13 11-Oct-13 25-Oct-13 F
5. Sutandi Purnomosidi 2013 4.50 17-Jul-14 18-Jul-14 22-Jul-14 12-Aug-14 F
6. Wong Boon Siew Ivy 2014 4.50 2-Jul-15 3-Jul-15 7-Jul-15 29-Jul-15 F
2015 4.50 11-Jul-16 12-Jul-16 14-Jul-16 29-Jul-16 F
AUDIT COMMITTEE 2016 4.50 9-Jun-17 12-Jun-17 14-Jun-17 6-Jul-17 F
1. Dyah Pradnyaparamita Duarsa 2017 6.00 3-Jul-18 4-Jul-18 6-Jul-18 27-Jul-18 F
2. Agus Subayantara
3. Hartono Rahardjo ISSUED HISTORY
Listing Trading
Minarto Basuki 1. First Issue 3,000,000 9-Oct-89 9-Oct-89
2. Company Listing 17,000,000 9-Oct-89 9-Oct-89
HEAD OFFICE 3. Right Issue 50,000,000 1-Oct-91 1-Oct-91
Gandaria 8 Office Tower 32nd Floor 4. Bonus Shares 35,000,000 24-Dec-92 24-Dec-92
Jl. Sultan Iskandar Muda 8 5. Right Issue 5,000 18-Jul-94 29-Jul-94
Jakarta 12240 6. Right Issue 4,300 18-Jul-94 5-Aug-94
Phone : (021) 2900-8000 7. Right Issue 6,500 18-Jul-94 10-Aug-94
Fax : (021) 2905-3000 8. Right Issue 21,625 18-Jul-94 11-Aug-94
Homepage : www.pakuwon.com 9. Right Issue 30,450 18-Jul-94 16-Aug-94
Email : investorrelations@pakuwon.com 10. Right Issue 1,650 18-Jul-94 19-Aug-94
minarto@pakuwon.com 11. Right Issue 20,500 18-Jul-94 19-Aug-94
12. Right Issue 20,078,445 18-Jul-94 24-Aug-94
15. Right Issue 543,853 18-Jul-94 1-Sep-94
16. Stock Split 210,000,000 29-Jan-96 29-Jan-96
17. Add. Listing without RI 247,000,000 3-Feb-06 3-Feb-06
18. Add. Listing without Right Issue Cancellation -247,000,000 20-Mar-06 20-Mar-06
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 8-Aug-06 8-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 2-Jan-12 2-Jan-12
25. Stock Split 36,119,701,800 30-Mar-12 30-Mar-12


TRADING ACTIVITIES
Pakuwon Jati Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
760 3,200 Jan-15 545 462 499 112,556 6,716,000 3,274,163 21
Feb-15 565 481 550 69,429 2,561,866 1,316,795 19
665 2,800 Mar-15 555 486 515 85,765 2,978,488 1,509,847 22
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
570 2,400
Jun-15 455 372 430 85,264 2,619,761 1,091,585 21
Jul-15 451 390 415 61,440 1,756,072 737,236 19
475 2,000
Aug-15 422 313 380 60,816 2,245,579 826,986 20
Sep-15 378 328 331 53,599 1,480,527 524,279 21
380 1,600
Oct-15 464 329 426 78,340 2,154,735 876,440 21
Nov-15 468 408 461 54,174 1,081,725 481,291 21
285 1,200 Dec-15 505 416 496 47,304 1,190,925 554,015 19
190 800 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
95 400 Mar-16 540 456 484 71,210 1,787,386 894,038 21
Apr-16 550 481 525 49,505 1,334,420 691,248 21
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
Aug-16 690 590 595 71,603 1,895,204 1,226,464 22
Sep-16 700 560 675 69,311 2,088,609 1,323,104 21
Property, Real Estate and Bulding Construction Index Nov-16 765 635 685 102,495 4,734,696 3,258,054 22
January 2015 - January 2019 Dec-16 700 535 565 64,212 2,085,323 1,275,702 20
40%
Jan-17 610 555 560 53,285 1,080,674 633,472 21
30% Feb-17 615 550 590 52,646 1,306,378 748,621 19
24.6% Mar-17 630 550 615 47,746 915,329 536,537 22
20% 20.4% Apr-17 650 540 625 38,985 642,888 384,275 17
May-17 705 560 610 79,366 1,366,885 851,351 20
10% Jun-17 635 600 615 26,796 984,853 601,956 15
Jul-17 725 600 710 40,480 928,860 592,791 21
Aug-17 720 635 670 44,284 812,251 548,371 22
-
Sep-17 670 605 610 37,830 725,236 466,058 19
Oct-17 660 580 630 45,298 777,613 482,940 22
-10%
-12.6% Nov-17 650 600 620 28,927 596,494 375,208 22
Dec-17 685 620 685 29,054 687,916 440,198 18
-20%
Jan-18 725 670 710 37,832 660,389 459,388 22

-30% Feb-18 715 645 675 32,972 613,665 416,556 19
Mar-18 710 595 630 40,089 458,699 294,584 21
-40% Apr-18 645 555 590 27,708 511,620 313,615 21
Jan 15 Jan 16 Jan 17 Jan 18 Jan 19 May-18 605 494 560 64,519 1,913,974 1,042,876 20
Jun-18 625 515 530 37,685 1,175,032 659,480 13
Jul-18 590 505 515 42,562 904,402 489,833 22
SHARES TRADED 2015 2016 2017 2018 Jan-19 Aug-18 575 490 515 37,497 716,177 381,313 21
Volume (Million Sh.) 30,404 23,230 10,825 10,502 1,262 Sep-18 540 490 515 30,981 523,851 268,875 19
Value (Billion Rp) 13,785 13,889 6,662 6,024 844 Oct-18 520 432 478 52,549 711,158 336,972 23
Frequency (Thou. X) 892 815 525 505 72 Nov-18 650 478 590 55,393 1,594,018 921,700 21
Days 244 246 238 240 22 Dec-18 650 585 620 45,708 718,939 438,505 18
Price (Rupiah) Jan-19 725 610 650 72,125 1,262,392 844,490 22

High 565 765 725 725 725
Low 313 418 540 432 610
Close 496 565 685 620 650
Close* 496 565 685 620 650
PER (X) 18.93 15.55 17.62 12.58 13.19

PER Industry (X) 13.36 24.89 14.52 27.07 28.17
PBV (X) 2.53 2.56 2.58 2.06 2.16


Receivables 303,348 301,528 237,296 523,043 501,890

20,000
Inventories 1,671,766 2,254,347 2,859,710 3,741,163 3,666,175

15,000
Investment 20,971 18,056 54,810 52,965 80,936
Fixed Assets 964,375 1,457,275 1,699,652 1,681,938 1,693,421
10,000
Other Assets 20,725 3,337 3,477 2,879 2,932
Total Assets 16,770,743 18,778,122 20,674,142 23,358,718 24,617,321
5,000
Growth (%) 11.97% 10.10% 12.99% 5.39%
-
Trade Payable 133,697 198,259 211,649 364,135 326,550 2014 2015 2016 2017 Sep-18
Growth (%) 9.84% 3.55% 9.45% -4.02%
14,475
12,791
Paid up Capital 1,203,990 1,203,990 1,203,990 1,203,990 1,203,990
11,020
11,522
9,455
Par Value 25 25 25 25 25 8,283
8,569
Total Equity 8,283,071 9,455,056 11,019,694 12,791,490 14,474,688 5,616
Growth (%) 14.15% 16.55% 16.08% 13.16%

2,663

Total Revenues 3,872,273 4,625,053 4,841,105 5,717,538 5,228,722
-289
2014 2015 2016 2017 Sep-18

Growth (%) 19.44% 4.67% 18.10%
Cost of Revenues 1,714,248 1,956,525 2,087,579 2,353,435 2,162,106

Gross Profit 2,158,025 2,668,528 2,753,526 3,364,102 3,066,616
Operating Expenses -451,208 1,243,386 1,021,762 1,292,411 1,044,822 5,718
5,229
Operating Profit - - 1,731,764 2,071,692 2,021,794
5,718
4,841
4,625
Growth (%) 19.63%
3,872
4,551
Income Before Tax 2,609,233 1,425,142 1,731,764 2,071,692 2,021,794

Tax 10,401 24,588 -48,491 47,065 21,655 2,218

Growth (%) -46.11% 27.11% 13.73%
1,052
-114
Period Attributable 2,515,236 1,261,887 1,670,767 1,872,781 1,780,383 2014 2015 2016 2017 Sep-18
Dividend (Rp) 4.50 4.50 4.50 6.00 - 2,599
EPS (Rp) 53.96 29.08 36.97 42.04 41.53 2,025 2,000

BV (Rp) 171.99 196.33 228.82 265.61 300.56 2,069
1,780
DAR (X) 0.51 0.50 0.47 0.45 0.41 1,401
DER(X) 1.02 0.99 0.88 0.83 0.70
1,539
ROA (%) 15.50 7.46 8.61 8.67 8.12 1,008
ROE (%) 31.38 14.81 16.16 15.83 13.82

GPM (%) 55.73 57.70 56.88 58.84 58.65 478
OPM (%) - - 35.77 36.23 38.67

NPM (%) 67.11 30.28 36.77 35.41 38.25
-52
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 8.34 15.47 12.17 14.27 -
Yield (%) 0.87 0.87 0.87 1.17 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

SURYA CITRA MEDIA TBK.
Company Profile
PT Surya Citra Media Tbk. was formed on 29 January 1999 to operate as a holding company for
multimedia services as well as consultancy services in the media and related business. The main purpose
behind its creation, however, was to broaden the horizons of PT Surya Citra Televisi (SCTV), one of the
largest TV broadcasting stations in Indonesia, today.
As a media broadcasting company, SCTV is restricted by law to operate solely and exclusively as a
broadcasting company for which it was licenced for. Yet, the business prospects of an integrated
multimedia services group are simply too promising to be ignored. With a vision to become the leading
entertainment and information provider for the nation of Indonesia the company has a mission to be
the first choise in terms on quality content provider, to entertain, educate and provide information to
Indonesia
Hence, the establishment of the company signified the emergence of a highly prospective multimedia
group with longterm growth opportunities. The Company subsequently acquired 100% share of SCTV
over a period of time between November 2001 and April 2002, and went public in July 2002. PT Elang
Mahkota Teknologi Tbk. is the ultimate parent entity of the Company and its subsidiaries.
Subsidiaries directly owned by the Company are as follows: PT Surya Citra Televisi (SCTV), PT Indosiar
Visual Mandiri, PT Screenplay Produksi, PT Bangka Tele Vision, PT Surya Citra Pesona, PT Surya Trioptima
Multikreasi, PT Surya Citra Gelora, PT Indonesia Entertainmen Group.
In 2018 the company received awards: The Best in Multimedia Industry dan The Best in Navigating Digital
Shift at The 7th Annual Strategy into Performance Execution Excellence (SPEx2) Award 2018, Indonesia
Excellent Public Company 2018 Trade, Services and Investment category, Top 5 Good Corporate
Governance (GCG) Issues in Media Sector, etc.
The head office of the Company is located in SCTV Tower – Senayan City, Jl. Asia Afrika Lot. 19, Jakarta
10270. As of September 30th, 2018, the company and subsidiaries had 2,719 employees.
February 2019
Disclaimer:

SCMA Surya Citra Media Tbk.

Industry Sub Sector : Advertising, Printing And Media (95) Market Capitalization : 27,561,718,326,090
44 | 27.6T | 0.37% | 71.62%
58 | 8.32T | 0.40% | 78.09%

Established Date : 29-Jan-1999 1. PT Elang Mahkota Teknologi 8,900,232,951 : 60.87%
Underwriter IPO :
PT CLSA Indonesia DIVIDEND ANNOUNCEMENT
F/I
2002 15.00 20-Aug-02 21-Aug-02 26-Aug-02 9-Sep-02 I
1. Raden Soeyono 2003 5.00 5-Aug-04 6-Aug-04 10-Aug-04 25-Aug-04 F
2. Glenn Muhammad Surya Yusuf *) 2004 35.00 23-Jun-05 24-Jun-05 28-Jun-05 12-Jul-05 F
3. Jay Geoffrey Wacher 2004 25.00 8-Dec-05 9-Dec-05 13-Dec-05 28-Dec-05 F
4. Raden Alvin Widarta Sariaatmadja 2005 50.16 22-Jun-06 23-Jun-06 27-Jun-06 11-Jul-06 F
5. Suryani Zaini *) 2006 8.00 15-Dec-06 18-Dec-06 20-Dec-06 5-Jan-07 I
*) Independent Commissioners 2007 20.00 1-Aug-07 2-Aug-07 6-Aug-07 21-Aug-07 I
2007 8.00 10-Sep-08 11-Sep-08 15-Sep-08 29-Sep-08 F
BOARD OF DIRECTORS 2008 40.00 16-Dec-08 17-Dec-08 19-Dec-08 8-Jan-09 I
1. Sutanto Hartono 2008 130.00 19-Jun-09 22-Jun-09 24-Jun-09 7-Jul-09 F
2. Harsiwi Achmad 2009 170.00 16-Jun-10 17-Jun-10 21-Jun-10 5-Jul-10 F
3. Imam Sudjarwo 2010 60.00 8-Nov-10 9-Nov-10 11-Nov-10 23-Nov-10 I
4. Mutia Nandika 2010 225.00 27-Jun-11 28-Jun-11 1-Jul-11 12-Jul-11 F
5. Rusmiyati Djajaseputra 2011 35.00 27-Jun-11 28-Jun-11 1-Jul-11 12-Jul-11 I
2011 125.00 14-Jun-12 15-Jun-12 19-Jun-12 3-Jul-12 F
AUDIT COMMITTEE 2012 48.00 6-May-13 7-May-13 10-May-13 24-May-13 F
1. Glenn Muhammad Surya Yusuf 2013 15.00 21-Nov-13 22-Nov-13 26-Nov-13 10-Dec-13 I
2. Emmanuel Bambang Suyitno 2013 51.00 18-Aug-14 19-Aug-14 21-Aug-14 4-Sep-14 F
3. Patricia M. Sugondo 2014 70.00 28-Apr-15 29-Apr-15 4-May-15 21-May-15 F
2015 55.00 3-Dec-15 4-Dec-15 8-Dec-15 22-Dec-15 I
CORPORATE SECRETARY 2015 28.00 25-May-16 26-May-16 30-May-16 6-Jun-16 F
Gilang Iskandar 2016 55.00 2-Dec-16 5-Dec-16 7-Dec-16 22-Dec-16 I
2016 18.00 26-May-17 29-May-17 31-May-17 8-Jun-17 F
HEAD OFFICE 2017 40.00 12-Dec-17 13-Dec-17 15-Dec-17 22-Dec-17 I
SCTV Tower, Senayan City 2017 35.00 2-Jul-18 3-Jul-18 5-Jul-18 25-Jul-18 F
Jl. Asia Afrika Lot. 19 2018 20.00 12-Dec-18 13-Dec-18 12-Dec-18 28-Dec-18 I
Jakarta 10270
Fax : (021) 2793-5598 Listing Trading
Email : corsec@scm.co.id 1. First Issue 375,000,000 16-Jul-02 16-Jul-02
gilang.iskandar@indosiar.com 2. First Issue (Greenshoe) 56,250,000 16-Jul-02 16-Jul-02
olle.wennerdahl@scm.co.id 3. Company Listing 1,443,750,000 T: 16-Jul-02 : 28-Feb-03
4. Warrant 18,750,000 5-Mar-03 5-Mar-03
5. ESOP Conversion 56,250,000 T: 23-May-08 : 14-Jun-12
6. Stock Split 7,800,000,000 29-Oct-12 29-Oct-12
7. Merger with IDKM 4,871,601,234 1-May-13 1-May-13


TRADING ACTIVITIES
Surya Citra Media Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
4,000 160 Jan-15 3,730 3,205 3,415 62,923 408,147 1,407,805 21
Feb-15 4,040 3,325 3,650 72,671 383,350 1,392,435 19
3,500 140 Mar-15 3,680 3,150 3,395 70,054 418,705 1,451,881 22
Apr-15 3,470 2,710 2,900 55,063 425,381 1,395,129 21
May-15 3,240 2,875 3,090 47,429 179,558 548,669 19
3,000 120
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
2,500 100
Aug-15 2,920 2,285 2,730 57,267 316,060 823,566 20
Sep-15 2,845 2,470 2,740 43,883 189,189 491,120 21
2,000 80
Oct-15 3,450 2,645 2,925 60,159 240,686 716,870 21
Nov-15 3,455 2,950 3,030 65,032 232,719 740,646 21
1,500 60 Dec-15 3,185 2,950 3,100 47,180 197,277 603,671 19
1,000 40 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
500 20 Mar-16 3,320 2,785 3,140 57,381 281,605 838,593 21
Apr-16 3,305 3,010 3,200 39,120 196,512 623,649 21
May-16 3,540 3,070 3,350 36,123 305,490 1,013,464 20
Jun-16 3,550 3,120 3,300 40,830 356,521 1,177,885 22
Jul-16 3,340 3,130 3,160 35,176 171,534 557,692 16
Aug-16 3,330 2,900 3,030 48,006 191,931 605,290 22
Sep-16 3,100 2,680 2,800 52,386 264,429 757,270 21
45%
Jan-17 2,970 2,560 2,820 39,750 225,902 631,439 21
30% Feb-17 3,180 2,780 2,950 46,930 285,740 839,994 19
24.6% Mar-17 2,950 2,540 2,700 55,255 305,286 832,308 22
15% Apr-17 2,950 2,720 2,860 36,519 251,457 715,448 17
May-17 3,010 2,690 2,910 38,409 255,017 724,222 20
- Jun-17 2,910 2,560 2,590 32,546 256,497 690,218 15
Jul-17 2,680 2,160 2,360 64,559 738,555 1,698,849 21
-9.5%
Aug-17 2,470 2,160 2,210 53,188 467,463 1,091,170 22
-15%
Sep-17 2,370 1,960 2,190 49,165 339,570 743,891 19
Oct-17 2,230 2,050 2,150 48,985 424,470 906,184 22
-30%
Nov-17 2,300 1,935 2,200 49,456 606,836 1,252,847 22
Dec-17 2,560 2,180 2,480 39,517 356,214 852,263 18
-45% -46.1%
Jan-18 2,690 2,330 2,690 44,103 459,484 1,142,785 22
-60% Feb-18 2,980 2,610 2,850 36,025 343,182 937,773 19
Mar-18 2,910 2,620 2,710 30,897 254,074 705,956 21
-75% Apr-18 2,840 2,370 2,560 30,170 194,897 515,762 21
Jun-18 2,530 1,990 2,060 40,667 202,162 456,583 13
Jul-18 2,310 1,965 2,050 38,994 315,308 661,774 22
Days 244 246 238 240 22 Dec-18 1,995 1,805 1,870 44,945 258,946 491,377 18
Price (Rupiah) Jan-19 2,030 1,825 1,885 65,256 285,939 550,228 22

High 4,040 3,550 3,180 2,980 2,030
Low 2,285 2,130 1,935 1,490 1,825
Close 3,100 2,800 2,480 1,870 1,885
Close* 3,100 2,800 2,480 1,870 1,885
PER (X) 29.75 26.57 24.87 17.25 17.38

PER Industry (X) 14.53 19.07 17.44 5.25 6.49
PBV (X) 13.28 9.80 7.76 5.38 5.43


Receivables 1,291,520 1,411,872 1,533,512 1,556,361 1,687,078

463,929 532,656 689,291 765,985 884,927 5,000
Inventories
Current Assets 3,204,743 2,843,500 2,952,181 2,708,606 3,518,465
3,750
Fixed Assets 763,737 962,114 966,766 1,029,336 1,051,905
Other Assets 38,146 29,919 32,558 40,403 34,052
2,500
Total Assets 4,749,410 4,565,964 4,820,612 5,385,808 6,188,633
Growth (%) -3.86% 5.58% 11.72% 14.91% 1,250
Current Liabilities 818,040 860,470 990,468 743,336 854,092 -

Total Liabilities 1,261,542 1,152,288 1,115,204 980,415 1,109,808
Growth (%) -8.66% -3.22% -12.09% 13.20%
Paid up Capital 731,080 731,080 731,080 731,080 731,080
4,405
5,079

3,705
Par Value 50 50 50 50 50 3,488 3,414
4,043

Total Equity 3,487,868 3,413,676 3,705,408 4,405,393 5,078,825
3,007
Growth (%) -2.13% 8.55% 18.89% 15.29% 1,971
Total Revenues 4,075,227 4,237,980 4,524,136 4,453,849 3,795,832

Growth (%) 3.99% 6.75% -1.55%
-102
2014 2015 2016 2017 Sep-18
Gross Profit 4,075,227 4,237,980 4,524,136 4,453,849 3,795,832
Expenses (Income) 2,147,232 2,223,431 2,520,794 2,681,737 2,236,614
4,238
4,075
Growth (%) 4.49% -0.56% -11.54%
4,524
3,796
3,601
Other Income (Expenses) -857 23,918 20,210 9,932 22,953

Tax 469,441 513,470 509,923 464,295 392,491

Growth (%) 4.97% -0.69% -12.80%

832
Current Ratio (%) 391.76 330.46 298.06 364.39 411.95
1,522 1,511
70.00 83.00 73.00 75.00 20.00 1,450
Dividend (Rp)
1,318
1,522
EPS (Rp) 99.51 104.20 102.65 91.06 81.33 1,190

BV (Rp) 238.54 233.47 253.42 301.29 347.35 1,211
DAR (X) 0.27 0.25 0.23 0.18 0.18

DER(X) 0.36 0.34 0.30 0.22 0.22
901
ROA (%) 30.52 33.32 31.35 24.47 19.22 590
ROE (%) 41.56 44.57 40.78 29.91 23.42

GPM (%) 100.00 100.00 100.00 100.00 100.00 280
OPM (%) 47.31 47.54 44.28 39.79 41.08

NPM (%) 35.57 35.90 33.40 29.59 31.34
-30
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 70.35 79.66 71.11 82.36 24.59
Yield (%) 2.00 2.68 2.61 3.02 1.07
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

SEMEN INDONESIA (PERSERO) TBK.
Company Profile
PT Semen Indonesia (Persero) Tbk, previously named PT Semen Gresik (Persero) Tbk. is a company
engaged in cement industry, inaugurated in Gresik on 7 August 1957. The company is the largest
cement producer in Indonesia and listed as the first State Owned Enterprise (SOE) to go regional.
Continuing its support for the nation development, the company is currently intensifying its
downstream cement products development, expanding market coverage and ensuring the sufficient
of production.
Cement is the company’s core business and the business activities in production and distribution of
cement product and downstream cement products. The company produces several cement types. Its
flagship product is portland cement type II-V (Non OPC). The Company also produce specific types and
mixed cement products for limited usage. The following lists all cement types are Portland Cement
Type I (Ordinary Portland cement – OPC), Portland Cement Type II-V, Special Blended Cement (SBC),
Portland Pozzolan Cement (PPC), Portland Composite Cement (PCC), Super Mansory Cement (SMC),
Oil Well Cement (OWC) – Class G HRC, Super White Cement (SWC).
Portland Cement type I and PPC are available in the retail market, while the othe types are produced
by order and in certain quantity. The products are sold primarily for domestic market with some
allocation for export. They are mainly sold in packs and the rest is sold in bulk.
The company establish subsidiaries, associates and affiliates that are engaged in cement related
business, from cement production, distribution to product usage, which cover Coal mining, trading and
transportation, ready mix concrete production, limestone and clay mining, cement bag producer,
industrial development, information system, investment, loading and unloading services and
construction, cement raw material production, tranportation management service, transhipment
service, cement packing and distribution and developer, civil contractors, mechanical and electrical
contractors, workshop and manufacturing, steel fabrication, heavy equipment rental and maintanance
services, engineering, and industrial and training bureau.
The head office of the Company is located in Gedung Utama Semen Indonesia Jl. Veteran, Gresik 61122.
As of September 30th, 2018, the Company and its subsidiaries had 10,540 employees.
February 2019
Disclaimer:

SMGR Semen Indonesia (Persero) Tbk.

15 | 75.2T | 1.01% | 53.87%
26 | 20.0T | 0.96% | 57.94%

Established Date : 25-Mar-1953 1. Republic of Indonesia qq Ministry of Finance 3,025,406,000 : 51.01%
Underwriter IPO :
PT Buanamas Investindo DIVIDEND ANNOUNCEMENT
PT Ficorinvest Bonus Cash Recording Payment
F/I
PT Indovest Securities Year Shares Dividend Cum Date Ex Date Date Date
PT Merchant Investment Corporation 1991 284.70 12-Jun-92 15-Jun-92 22-Jun-92 13-Jul-92 F
PT Multicor 1992 267.75 14-Jun-93 15-Jun-93 24-Jun-93 22-Jul-93 F
PT Nikko Securities Indonesia 1993 164.18 13-Jul-94 14-Jul-94 21-Jul-94 19-Aug-94 F
PT Nomura Indonesia 1994 184.51 3-Jul-95 4-Jul-95 12-Jul-95 11-Aug-95 F
PT Primarindo Daya Investama 1995 109.62 11-Jul-96 12-Jul-96 22-Jul-96 20-Aug-96 F
PT Datindo Entrycom 1997 156.82 9-Jul-98 10-Jul-98 20-Jul-98 18-Aug-98 F
1998 135.06 13-Jul-99 14-Jul-99 22-Jul-99 20-Aug-99 F
1. Sutiyoso 2000 231.14 5-Jul-01 6-Jul-01 13-Jul-01 20-Jul-01 F
2. Astrea Primanto Bhakti 2001 267.61 18-Jul-02 19-Jul-02 24-Jul-02 7-Aug-02 F
3. Hendrika Nora O. Sinaga 2002 115.03 18-Jul-03 21-Jul-03 23-Jul-03 6-Aug-03 F
4. M. Choliq *) 2003 174.68 23-Jul-04 26-Jul-04 28-Jul-04 11-Aug-04 F
5. Nasaruddin Umar *) 2003 112.73 22-Dec-04 23-Dec-04 28-Dec-04 7-Jan-05 F
6. Sony Subrata 2004 39.67 5-Jan-05 6-Jan-05 10-Jan-05 18-Jan-05 I
7. Wahyu Hidayat 2004 267.51 18-Jul-05 19-Jul-05 21-Jul-05 1-Aug-05 F
2006 1,092.06 19-Jul-07 20-Jul-07 24-Jul-07 7-Aug-07 F
1. Hendi Prio Santoso 2008 215.19 21-Jul-09 22-Jul-09 24-Jul-09 7-Aug-09 F
2. Adi Munandir 2009 58.00 7-Dec-09 8-Dec-09 10-Dec-09 23-Dec-09 I
3. Agung Yunanto 2009 250.45 19-Jul-10 20-Jul-10 22-Jul-10 5-Aug-10 F
4. Benny Wendry 2010 58.00 27-Dec-10 28-Dec-10 30-Dec-10 4-Jan-11 I
5. Doddy Sulasmono Diniawan 2010 248.26 27-Jul-11 28-Jul-11 1-Aug-11 15-Aug-11 F
6. Fadjar Judisiawan 2011 330.89 17-Jul-12 18-Jul-12 20-Jul-12 3-Aug-12 F
7. Tri Abdisatrijo 2012 367.74 29-May-13 30-May-13 3-Jun-13 17-Jun-13 F
2013 407.42 28-Apr-14 29-Apr-14 2-May-14 19-May-14 F
AUDIT COMMITTEE 2014 375.34 23-Apr-15 24-Apr-15 28-Apr-15 20-May-15 F
1. M. Choliq 2015 304.91 20-May-16 23-May-16 25-May-16 16-Jun-16 F
2. Astera Primanto Bhakti 2017 135.83 8-May-18 9-May-18 14-May-18 31-May-18 F
3. Elok Tresnaningsih
4. M. Z. Abidin ISSUED HISTORY
Listing Trading
Agung Wiharto 1. First Issue 40,000,000 8-Jul-91 8-Jul-91
2. Partial Listing 30,000,000 8-Jul-91 17-May-92
HEAD OFFICE 3. Company Listing 78,288,000 2-Jun-95 2-Jun-95
Semen Gresik Main Building 4. Right Issue 444,864,000 10-Aug-95 10-Aug-95
Jl. Veteran 5. Stock Split 5,338,368,000 7-Aug-07 7-Aug-07
Gresik 61122
Phone : (031) 398-1732
Fax : (031) 398-3209
Email : info@semenindonesia.com


TRADING ACTIVITIES
Semen Indonesia (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
18,000 160 Jan-15 16,475 13,950 14,575 86,580 270,215 4,033,800 21
Feb-15 15,150 14,350 14,875 52,352 153,045 2,256,306 19
15,750 140 Mar-15 14,950 12,525 13,650 70,512 170,929 2,401,500 22
Apr-15 13,875 12,400 12,500 56,978 172,031 2,302,086 21
May-15 13,500 12,500 13,450 45,572 155,975 2,054,754 19
13,500 120
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
11,250 100
Aug-15 10,300 7,100 9,250 75,560 175,405 1,544,000 20
Sep-15 10,500 8,100 9,050 66,098 150,962 1,445,208 21
9,000 80
Oct-15 11,300 9,050 9,800 69,272 158,028 1,648,908 21
Nov-15 11,775 9,625 10,625 66,730 144,770 1,571,643 21
6,750 60 Dec-15 11,500 10,275 11,400 55,352 119,304 1,300,428 19
4,500 40 Jan-16 11,475 10,000 11,050 57,333 159,850 1,708,818 20

Feb-16 11,175 9,925 10,250 56,610 140,574 1,491,946 20
2,250 20 Mar-16 10,750 10,000 10,175 61,762 148,201 1,554,343 21
Apr-16 10,800 9,800 9,900 50,072 127,500 1,319,702 21
May-16 9,900 8,675 9,000 58,603 146,011 1,342,001 20
Jun-16 9,350 8,700 9,350 62,183 148,752 1,344,282 22
Jul-16 9,850 8,950 9,375 78,841 355,241 3,346,668 16
Aug-16 11,875 9,400 9,900 95,879 497,710 5,273,970 22
Sep-16 10,700 9,625 10,100 67,010 275,818 2,802,929 21
Basic Industry and Chemicals Index Nov-16 9,900 8,050 8,875 69,707 171,006 1,502,710 22
80%
68.3% Jan-17 9,500 8,575 9,025 43,912 111,066 1,003,395 21

60% Feb-17 9,875 9,025 9,625 41,592 120,445 1,133,685 19
Mar-17 9,625 8,750 9,000 49,228 131,215 1,205,612 22
40% Apr-17 9,225 8,650 8,825 34,829 127,117 1,132,891 17
May-17 9,500 8,600 9,450 46,405 136,277 1,225,227 20
24.6% Jun-17 10,250 9,025 10,000 39,381 111,872 1,090,751 15
20%
Jul-17 10,400 9,750 9,950 47,774 162,433 1,643,111 21
Aug-17 11,075 9,850 10,475 47,198 160,104 1,713,181 22
-
Sep-17 10,600 9,025 10,125 49,376 162,073 1,612,693 19
Oct-17 11,100 10,000 10,900 50,556 116,820 1,260,583 22
-20% -21.8% Nov-17 10,800 9,400 9,400 46,115 101,009 1,027,855 22
Dec-17 10,400 9,125 9,900 41,697 102,696 1,001,753 18
-40%
Jan-18 11,725 10,100 11,150 63,721 144,536 1,577,515 22

-60% Feb-18 11,775 10,100 11,125 50,769 123,175 1,343,811 19
Mar-18 11,425 9,550 10,350 53,664 140,481 1,463,936 21
-80% Apr-18 11,025 9,200 9,650 52,919 103,791 1,046,206 21
Jun-18 8,825 7,000 7,125 41,034 124,680 1,015,971 13
Jul-18 7,850 6,500 7,600 47,998 115,668 840,181 22
Days 244 246 238 240 22 Dec-18 12,175 11,100 11,500 61,877 141,680 1,645,785 18
Price (Rupiah) Jan-19 13,450 11,000 12,675 82,457 184,105 2,251,877 22

High 16,475 11,875 11,100 12,225 13,450
Low 7,100 8,050 8,575 6,500 11,000
Close 11,400 9,175 9,900 11,500 12,675
Close* 11,400 9,175 9,900 11,500 12,675
PER (X) 14.96 13.94 29.16 24.51 27.01

PER Industry (X) 4.10 20.86 13.10 13.74 15.89
PBV (X) 2.46 1.91 1.93 2.15 2.37


Receivables 3,432,557 3,628,641 4,018,284 4,995,015 6,032,228

2,811,704 2,408,974 2,671,145 3,686,332 3,748,562 50,000
Inventories
Current Assets 11,648,545 10,538,704 10,373,159 13,801,819 15,185,189
37,500
Fixed Assets 20,221,067 25,167,683 30,864,750 32,523,310 32,962,658
Other Assets 326,264 360,109 347,866 351,743 356,674
25,000
Total Assets 34,314,666 38,153,119 44,226,896 48,963,503 50,775,764
Growth (%) 11.19% 15.92% 10.71% 3.70% 12,500

Growth (%) 15.04% 27.45% 35.69% 3.04%
30,574 30,439
Paid up Capital 593,152 593,152 593,152 593,152 593,152
27,441
31,688

Par Value 100 100 100 100 100
25,224

Total Equity 25,002,452 27,440,798 30,574,391 30,439,052 31,687,852
18,759
Growth (%) 9.75% 11.42% -0.44% 4.10% 12,295
Total Revenues 26,987,035 26,948,004 26,134,306 27,813,664 21,455,291

Growth (%) -0.14% -3.02% 6.43%
-634
2014 2015 2016 2017 Sep-18
Cost of Revenues 15,388,431 16,302,008 16,278,434 19,854,065 15,115,811

Gross Profit 11,598,604 10,645,996 9,855,872 7,959,599 6,339,480
Expenses (Income) 4,507,838 4,795,073 4,771,251 5,213,052 3,595,441
Operating Profit - - - - - 26,987 26,948 27,814
26,134
Growth (%)
27,814
21,455
22,140

Tax 1,517,189 1,325,482 549,585 703,520 674,719

Growth (%) -18.81% 0.21% -54.95%

5,118
Current Ratio (%) 220.90 159.70 127.25 156.78 172.14
5,574
Dividend (Rp) 375.34 304.91 - 135.83 - 5,574
EPS (Rp) 938.35 762.28 762.30 339.54 351.91 4,525 4,535

BV (Rp) 4,215.18 4,626.27 5,154.56 5,131.75 5,342.28 4,437
DAR (X) 0.27 0.28 0.31 0.38 0.38

DER(X) 0.37 0.39 0.45 0.61 0.60
3,300
16.24 11.86 10.25 4.17 4.08 2,043 2,069

ROA (%) 2,163
ROE (%) 22.29 16.49 14.83 6.71 6.53

GPM (%) 42.98 39.51 37.71 28.62 29.55 1,026
OPM (%) - - - - -
NPM (%) 20.65 16.79 17.35 7.35 9.64
-111
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 40.00 40.00 - 40.00 -
Yield (%) 2.32 2.67 - 1.37 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

SRI REJEKI ISMAN TBK.
Company Profile
PT Sri Rejeki Isman Tbk. was established dated May 22, 1978 in Surakarta. The scope of major
activities of the Company consists of spinning, weaving, dyeing, printing, finishing of fabric and
manufacturing of garments. The Company started its commercial operations in 1978.
The Company’s vision is to be the largest, most reputable and trusted global textile and garment
producer. The Company is the biggest integrated vertical – textile garment producer In South East
Asia. The Company achieves a global recognition and serves 55 countries worldwide, with a mission
to deliver the most innovative product in accordance to customers need and requirements, to be a
profitable and growth-oriented company for the interest of all stakeholders, to provide and
maintain a conducive work environment for our employees, to give contribution and value
enhancement to the surrounding society
The Company currently exports 48 percent of its products to around 30 countries in Asia, including
Papua New Guinea and Timor Leste, the Middle East, including the UAE and Qatar, Europe,
including Germany, Sweden, Norway and the Netherlands, the US and Africa.
The Company client list include prominent players in the fashion scene all across the globe, from
children’s lines, retailers such as Walmart and Sears, to big fashion lines such as Guess, H&M and
many more. High quality translates to high customer retention, a lot of its customer returns to the
Company and becomes partners to develop their products and design.
In the late 2018 the Company was awarded: Indonesia Excellent Public Company 2018
Miscellaneous Industry category,
Until 2018, the Company has 4 subsidiary, PT Sinar Pantja Djaja, Golden Legacy Pte, Ltd, Pt
Primayudha Mandirijaya, PT Biratex Industries which supports the parent company’s business.
The main office of the company is located in Jl. K.H. Samanhudi No.88, Jetis, Kec. Sukoharjo,
Kabupaten Sukoharjo, Jawa Tengah 57511. As of September 30th, 2018, the Company and its
Subsidiary had a total number of 18,835 employees.
February 2019
Disclaimer:

SRIL Sri Rejeki Isman Tbk.

Industry Sector : Miscellaneous Industry (4) Listed Shares : 20,452,176,844
Industry Sub Sector : Textile, Garment (43) Market Capitalization : 6,953,740,126,960
138 | 6.95T | 0.09% | 88.78%
30 | 18.7T | 0.90% | 61.60%

Established Date : 22-May-1978 1. PT Huddleston Indonesia 12,072,841,076 : 59.03%
Listing Date : 17-Jun-2013 (IPO Price: 240) 2. Public (<5%) 8,379,335,768 : 40.97%
Underwriter IPO :
F/I
PT Adimitra Jasa Korpora Year Shares Dividend Cum Date Ex Date Date Date
2013 2.00 30-Jun-14 1-Jul-14 3-Jul-14 18-Jul-14 F
1. Susyana Lukminto 2015 3.00 25-May-16 26-May-16 30-May-16 17-Jun-16 F
2. Megawati 2016 3.00 26-May-17 29-May-17 31-May-17 21-Jun-17 F
3. Sudjarwadi *) 2017 8.00 25-May-18 28-May-18 31-May-18 21-Jun-18 F
ISSUED HISTORY
1. Iwan Setiawan No. Type of Listing Shares Date Date
2. Allan Moran Severino 1. First Issue 5,600,000,000 17-Jun-13 17-Jun-13
3. Arief Halim 2. Company Listing 12,992,888,040 17-Jun-13 17-Jun-13
4. Eddy Prasetyo Salim 3. Add. Listing without RI 1,859,288,804 6-Dec-17 6-Dec-17
5. Iwan Kurniawan Lukminto
6. Karunakaran Ramamoorthy
7. Nasir Tamara Tamimi
AUDIT COMMITTEE
1. Sudjarwadi
2. Ida Bagus Oka Nila
3. Yose Rizal
CORPORATE SECRETARY
Welly Salam
HEAD OFFICE
Jl. K.H. Samanhudi 88
Jetis, Sukoharjo
Jawa Tengah 57511
Phone : (0271) 593-188
Fax : (0271) 593-488
Email : cmo@sritex.co.id
welly.salam@sritex.co.id


TRADING ACTIVITIES
Sri Rejeki Isman Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
500 4,000 Jan-15 180 149 155 26,148 1,994,729 315,639 21
Feb-15 166 148 153 28,613 2,051,613 319,408 19
438 3,500 Mar-15 270 152 229 167,822 8,131,661 1,742,646 22
Apr-15 279 229 271 112,951 7,701,622 1,977,162 21
May-15 350 271 339 114,262 3,327,174 1,073,958 19
375 3,000
Jun-15 349 269 303 104,878 2,929,507 934,877 21
Jul-15 497 304 470 231,373 8,903,014 3,580,929 19
313 2,500
Aug-15 495 283 325 244,239 6,980,305 2,660,259 20
Sep-15 417 316 384 93,795 2,335,340 844,763 21
250 2,000
Oct-15 417 366 379 50,890 918,404 362,221 21
Nov-15 398 323 372 49,201 727,982 269,862 21
188 1,500 Dec-15 395 350 389 78,428 1,176,910 450,095 19
125 1,000 Jan-16 417 256 266 162,832 3,099,188 1,029,980 20

Feb-16 291 232 241 135,436 2,901,948 762,344 20
63 500 Mar-16 328 241 323 123,430 4,191,918 1,213,137 21
Apr-16 324 286 288 61,737 1,966,921 594,820 21
May-16 296 250 272 60,798 2,110,777 572,625 20
Jun-16 288 254 260 58,820 1,942,871 520,227 22
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
Sep-16 268 208 208 60,467 2,528,685 609,492 21
Miscellaneous Industry Index Nov-16 282 230 240 125,704 3,673,716 940,595 22
January 2015 - January 2019 Dec-16 246 220 230 53,556 1,250,881 290,292 20
210%
Jan-17 262 224 232 104,866 2,905,948 701,102 21
180% Feb-17 360 232 340 104,056 5,980,486 1,728,024 19
Mar-17 496 278 350 501,044 23,467,798 8,605,880 22
150% Apr-17 354 298 302 131,573 4,209,125 1,331,816 17
May-17 362 282 326 283,316 6,651,547 2,173,686 20
120% Jun-17 338 296 320 100,034 4,592,333 1,462,586 15
109.9% Jul-17 378 316 338 186,500 6,024,654 2,091,937 21
Aug-17 378 322 370 211,068 9,499,280 3,325,462 22
90%
Sep-17 370 338 348 157,743 4,780,075 1,687,428 19
Oct-17 414 344 364 204,944 13,047,622 5,043,211 22
60%
Nov-17 398 362 370 116,979 2,687,706 1,028,560 22
Dec-17 396 350 380 173,401 4,666,342 1,736,419 18
30%
24.6%
11.2% Jan-18 396 364 382 71,400 2,515,518 950,277 22
- Feb-18 390 324 336 110,469 6,077,454 2,112,098 19
Mar-18 360 322 334 53,903 2,810,071 957,489 21
-30% Apr-18 372 330 342 51,644 3,305,803 1,158,406 21
Jun-18 364 330 344 21,360 673,752 233,261 13
Jul-18 380 302 342 43,791 1,247,120 436,606 22
SHARES TRADED 2015 2016 2017 2018 Jan-19 Aug-18 370 332 344 24,319 742,181 256,483 21
Volume (Million Sh.) 47,178 34,313 88,513 47,205 8,337 Sep-18 366 336 344 30,391 2,892,142 1,009,719 19
Value (Billion Rp) 14,532 9,245 30,916 16,711 2,891 Oct-18 378 312 362 405,696 17,905,413 6,336,028 23
Frequency (Thou. X) 1,303 1,113 2,276 1,505 398 Nov-18 374 350 360 121,349 4,709,025 1,713,833 21
Days 244 246 238 240 22 Dec-18 376 348 358 537,272 3,425,163 1,246,939 18
Price (Rupiah) Jan-19 366 322 340 398,232 8,336,653 2,891,373 22

High 497 417 496 396 366
Low 148 204 224 302 322
Close 389 230 380 358 340
Close* 389 230 380 358 340
PER (X) 9.42 5.50 8.43 5.22 4.96

PER Industry (X) 0.95 13.86 4.78 16.15 17.64
PBV (X) 1.89 1.07 1.30 0.98 0.93


Public Accountant : Tanubrata, Sutanto, Fahmi & Partners
Cash & Cash Equivalents 1,014,831 1,130,591 812,707 1,723,740 1,500,712 20,000
Receivables 1,607,225 1,497,681 2,009,497 2,555,953 3,510,116

1,362,611 1,990,249 1,983,368 648,804 4,238,144 16,000
Inventories
Current Assets 4,005,530 4,736,230 5,079,147 8,739,147 9,882,221
12,000
Fixed Assets 4,011,821 6,461,933 6,977,375 7,406,799 9,739,351
Other Assets 51,636 - 358,485 - 9,551
8,000
Total Assets 8,691,096 11,481,513 12,726,172 16,161,423 19,709,646
Growth (%) 32.11% 10.84% 26.99% 21.95% 4,000
Current Liabilities 751,756 984,296 1,659,721 2,373,446 2,966,125 -

Growth (%) 28.17% 11.48% 22.88% 20.34%
Paid up Capital 1,859,289 1,859,289 1,859,289 1,859,289 2,045,218 7,470

Par Value 100 100 100 100 100
5,946
Retained Earnings 945,521 1,792,408 2,386,770 102,269 4,478,148 4,449

4,056
Total Equity 2,897,795 4,056,195 4,448,787 5,990,368 7,470,012
4,422
2,898
Growth (%) 39.98% 9.68% 34.65% 24.70% 2,898
Total Revenues 6,897,287 9,116,561 9,135,667 10,287,672 11,404,968

Growth (%) 32.18% 0.21% 12.61%
-149
2014 2015 2016 2017 Sep-18
Cost of Revenues 5,374,885 7,161,091 7,182,731 7,967,296 9,322,345

Gross Profit 1,522,402 1,955,470 1,952,936 2,320,376 2,082,623
Expenses (Income) 348,920 517,779 401,716 325,859 167,989
10,288
Growth (%) 22.52% 7.90% 28.58%
11,405
9,117 9,136
9,078

Income before Tax 820,269 946,618 887,149 1,147,215 1,167,330 6,752
Tax 192,022 130,752 89,512 55,626 114,951

Profit for the period 628,210 815,866 797,637 1,091,590 1,052,379 4,425
Growth (%) 29.87% -2.23% 36.85%

2,099
Period Attributable 556,631 815,824 797,637 1,091,590 1,052,379 -228
Comprehensive Income 556,594 810,329 784,496 1,060,760 1,049,319 2014 2015 2016 2017 Sep-18
Comprehensive Attributable 556,631 810,281 784,496 1,060,760 1,049,319
Current Ratio (%) 532.82 481.18 306.02 368.20 333.17
1,092
1,052
Dividend (Rp) 5.38 3.00 3.00 8.00 - 1,092
EPS (Rp) 29.94 43.88 42.90 58.71 51.46

816 798
BV (Rp) 155.86 218.16 239.27 322.19 365.24 869
DAR (X) 0.67 0.65 0.65 0.63 0.62 628

DER(X) 2.00 1.83 1.86 1.70 1.64
646
ROA (%) 7.23 7.11 6.27 6.75 5.34 424
ROE (%) 21.68 20.11 17.93 18.22 14.09

GPM (%) 22.07 21.45 21.38 22.55 18.26 201
OPM (%) 17.01 15.77 16.98 19.39 16.79

NPM (%) 9.11 8.95 8.73 10.61 9.23
-22
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 17.97 6.84 6.99 13.63 -
Yield (%) 3.30 0.77 1.30 2.11 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

PABRIK KERTAS TJIWI KIMIA TBK.
Company Profile
PT Pabrik Kertas Tjiwi Kimia Tbk. manufacturing facilities are located in Sidoarjo, near Surabaya in
East Java – Indonesia. The mill which started as a caustic soda plant, now boasts many state of the
art paper and converting machines making it one of the world’s largest stationery manufacturers
under one roof. The mill commenced production in 1978 with an anual paper production capacity of
12,000 metric tons.
The Company operates in two business segments: paper products and industrial paper, packaging
product and other. The paper products segment consists primarily of printing and writing paper and
related paper products. Tjiwi Kimia produces products such as: coated paper, uncoated paper,
specialty paper, plano size or specified sizes of paper based on the requirements of both export and
the domestic market. The industrial paper and packaging products segment consists of fluting
medium paper and carton boxes. The packaging product segment includes the sale of chemical by-
products, which are not significant.
The ultimate parent entity of the Company and Subsidiaries is PT Purinusa Ekapersada, incorporated
in the Republic Indonesia, which is part of Sinarmas Group.
The Company had ownership interests in Subsidiaries as follows: PT Mega Kertas Pratama, Tjiwi Kimia
Trading III (BVI) Limited, Tjiwi Kimia Finance Mauritius Limited, TK Trading Limited, Tjiwi Kimia Trading
(II) Limited, TK Import & Export Ltd, Marshall Enterprise Ltd, PT Sumalindo Hutani Jaya.
The Company’s head Office is located at Sinar Mas Land Plaza, Menara 2, Lt.5 Jl. MH. Thamrin No 51
Jakarta. As of December 31st, 2018, the Company and subsidiaries had 8,000, employees.
February 2019
Disclaimer:

TKIM Pabrik Kertas Tjiwi Kimia Tbk.

Industry Sub Sector : Pulp & Paper (38) Market Capitalization : 41,950,687,605,750
32 | 42.0T | 0.57% | 66.39%
14 | 31.1T | 1.50% | 43.08%

Established Date : 02-Oct-1972 1. PT Purinusa Eka Persada 1,857,744,987 : 59.67%
Listing Date : 03-Apr-1990 (IPO Price: 9,500) 2. Public (<5%) 1,255,478,583 : 40.33%
Underwriter IPO :
PT Ficorinvest DIVIDEND ANNOUNCEMENT
PT Wardley James C.I Bonus Cash Recording Payment
F/I
PT Sinartama Gunita 1989 5:1 28-Sep-90 2-Oct-90 10-Oct-90 1-Nov-90 F
1990 10 : 3 18-Oct-91 21-Oct-91 1-Nov-91 2-Dec-91 BS
BOARD OF COMMISSIONERS 1991 100 : 12 7-Aug-92 8-Aug-92 15-Aug-92 15-Sep-92 F
1. Saleh Husin 1991 100 : 15 150.00 7-Aug-92 8-Aug-92 15-Aug-92 10-Oct-92 F
2. Arthur Tahya 1992 50.00 31-Aug-93 1-Sep-93 8-Sep-93 8-Oct-93 F
3. Deddy Saleh *) 1993 50.00 19-Sep-94 20-Sep-94 27-Sep-94 27-Oct-94 F
4. Hendra Jaya Kosasih 1994 100 : 14 60.00 11-Sep-95 12-Sep-95 20-Sep-95 20-Oct-95 F
5. Pande Putu Raka *) 1994 100 : 77 9-Nov-95 10-Nov-95 20-Nov-95 18-Dec-95 BS
6. Ramelan *) 1995 10 : 1 & 10 : 1 60.00 2-Sep-96 3-Sep-96 11-Sep-96 10-Oct-96 F
7. Sukirta Mangku Djaja 1996 60.00 9-Jul-97 10-Jul-97 21-Jul-97 19-Aug-97 F
*) Independent Commissioners 1999 60.00 1-Aug-00 2-Aug-00 10-Aug-00 15-Aug-00 F
2008 20.00 1-Sep-09 2-Sep-09 4-Sep-09 17-Sep-09 F
BOARD OF DIRECTORS 2009 10.00 19-Oct-10 20-Oct-10 22-Oct-10 4-Nov-10 F
1. Suhendra Wiriadinata 2010 15.00 10-Oct-11 11-Oct-11 13-Oct-11 27-Oct-11 F
2. Agustian R. Partawidjaja 2011 25.00 9-Oct-12 10-Oct-12 12-Oct-12 29-Oct-12 F
3. Anton Mailoa 2012 25.00 6-Nov-13 7-Nov-13 11-Nov-13 25-Nov-13 F
4. Arman Sutedja 2013 10.00 17-Oct-14 20-Oct-14 22-Oct-14 5-Nov-14 F
5. Baharudin 2014 10.00 2-Jul-15 3-Jul-15 7-Jul-15 29-Jul-15 F
6. Suresh Kilam 2015 5.00 12-Jul-16 13-Jul-16 15-Jul-16 29-Jul-16 F
2016 5.00 19-Jun-17 20-Jun-17 22-Jun-17 14-Jul-17 F
AUDIT COMMITTEE 2017 30.00 4-Jul-18 5-Jul-18 9-Jul-18 27-Jul-18 F
1. Ramelan
2. Aditiawan Candra ISSUED HISTORY
3. Deddy Saleh Listing Trading
CORPORATE SECRETARY 1. First Issue 9,300,000 3-Apr-90 3-Apr-90
Arman Sutedja 2. Partial Listing 11,400,000 T: 3-Apr-90 : 11-Apr-90
3. Bonus Shares 337,335,823 T: 21-Dec-90 : 19-Dec-95
HEAD OFFICE 4. Company Listing 117,300,000 T: 4-Feb-91 : 18-Feb-91
Sinar Mas Land Plaza, Menara 2, 5th Floor 5. Dividend 56,531,758 9-Nov-92 9-Nov-92
Jl. MH. Thamrin No. 51 6. CB Conversion 35,346,695 T: 25-Jun-93 : 26-Mar-98
Jakarta 10350 7. Stock Dividend 41,430,988 23-Oct-95 23-Oct-95
Phone : (021) 2965-0800; 2965-0900 8. Bonus Shares & Stocks Dividend 125,536,087 17-Oct-96 17-Oct-96
Fax : (021) 392-7685 9. Right Issue 587,345,081 11-Jul-97 11-Jul-97
Homepage : www.astragraphia.co.id 10. Warrant 3,386,857 T: 9-Feb-98 : 26-Aug-98
Email : app_investors@app.co.id 11. Warrant I 10,788,951 T: 24-Dec-98 : 9-Aug-00
12. Right Issue I 1,335,702,240 T: 17-Jul-14 : 25-Jul-14
13. Warrant II 441,819,090 T: 11-Feb-15 : 14-Jul-17


TRADING ACTIVITIES
Pabrik Kertas Tjiwi Kimia Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
20,000 160 Jan-15 870 820 840 2,110 7,394 6,195 21
Feb-15 855 825 830 909 3,544 2,974 19
17,500 140 Mar-15 845 790 810 455 1,235 1,011 22
Apr-15 850 760 805 5,162 8,292 6,861 21
May-15 815 770 785 4,261 7,203 5,738 19
15,000 120
Jun-15 785 695 695 1,455 2,018 1,496 21
Jul-15 710 640 660 372 1,123 743 19
12,500 100
Aug-15 685 475 640 665 1,977 1,107 20
Sep-15 685 476 479 11,523 18,887 11,419 21
10,000 80
Oct-15 500 475 487 534 3,493 1,688 21
Nov-15 605 493 540 1,195 5,983 3,346 21
7,500 60 Dec-15 545 480 495 269 1,547 788 19
5,000 40 Jan-16 505 481 492 209 1,026 508 20

Feb-16 515 472 493 438 1,781 880 20
2,500 20 Mar-16 575 487 555 1,813 11,348 5,889 21
Apr-16 680 535 680 909 4,458 2,707 21
May-16 700 600 615 277 2,113 1,310 20
Jun-16 635 590 620 316 1,921 1,171 21
Jul-16 885 610 860 1,846 10,639 7,745 16
Aug-16 880 715 750 2,205 13,680 11,114 22
Sep-16 800 670 670 346 15,041 10,409 21
Closing Price*, Jakarta Composite Index (IHSG) and Oct-16 795 665 795 600 5,140 3,787 21
Basic Industry and Chemicals Index Nov-16 800 710 755 248 1,867 1,389 22
January 2015 - January 2019 Dec-16 800 700 730 125 494 365 20
2,030%
Jan-17 935 730 845 923 6,513 5,504 21
1,740% Feb-17 1,035 825 1,025 998 6,917 6,511 19
Mar-17 1,080 930 1,005 896 5,749 5,614 22
1,450% 1457.8% Apr-17 1,330 1,000 1,275 3,975 35,162 42,217 17
May-17 1,710 1,300 1,350 5,825 36,649 53,590 20
1,160% Jun-17 1,410 1,140 1,200 910 3,926 5,150 15
Jul-17 1,340 1,115 1,180 712 121,000 143,958 20
Aug-17 1,595 1,125 1,590 5,087 240,114 286,469 22
870%
Sep-17 2,460 1,590 2,440 14,035 101,645 189,802 19
Oct-17 3,310 2,360 2,900 21,988 112,663 326,459 22
580%
Nov-17 3,900 2,700 3,170 23,043 94,038 315,924 22
Dec-17 3,180 2,600 2,920 12,841 94,483 249,996 18
290%
68.3% Jan-18 4,740 2,920 4,720 30,599 178,029 677,746 22

- 24.6% Feb-18 6,300 3,860 6,275 32,942 116,667 552,756 19
Mar-18 7,250 5,425 6,900 60,605 230,879 1,480,378 21
-290% Apr-18 10,400 6,550 10,300 72,448 251,182 2,127,244 21
Jun-18 18,450 13,400 16,350 69,614 177,284 2,774,909 13
Jul-18 16,800 11,375 14,500 161,352 346,146 4,776,045 22
Volume (Million Sh.) 63 70 859 2,751 98 Sep-18 14,950 12,075 13,775 96,188 237,054 3,313,311 19
Value (Billion Rp) 43 47 1,631 30,504 1,244 Oct-18 13,900 9,325 10,300 121,057 231,812 2,636,951 23
Days 244 245 237 240 22 Dec-18 11,900 10,475 11,100 86,499 148,150 1,651,381 18
Price (Rupiah) Jan-19 13,950 10,850 13,475 79,448 98,341 1,244,370 22

High 870 885 3,900 18,450 13,950
Low 475 472 730 2,920 10,850
Close 495 730 2,920 11,100 13,475
Close* 495 730 2,920 11,100 13,475
PER (X) 66.02 10.11 22.49 7.00 8.50

PER Industry (X) 4.10 20.86 13.10 13.74 15.89
PBV (X) 0.10 0.16 0.68 1.87 2.27


Public Accountant : Y. Santosa
Cash & Cash Equivalents 1,664,782 738,566 1,501,003 1,691,251 2,457,045 45,000
Receivables 1,620,896 1,221,045 999,840 1,626,559 2,112,528

3,933,507 4,028,960 3,375,392 3,164,393 4,378,541 36,000
Inventories
Current Assets 13,276,462 12,155,504 8,045,127 9,554,510 13,778,288
27,000
Fixed Assets 14,213,279 18,249,988 15,639,638 14,899,860 15,498,377
Other Assets 25,581 30,120 25,958 27,272 28,216
18,000
Total Assets 33,713,200 39,337,527 33,472,865 34,965,695 43,814,406
Growth (%) 16.68% -14.91% 4.46% 25.31% 9,000

Growth (%) 14.42% -17.54% 2.78% 17.90%
Paid up Capital 2,671,404 2,671,405 35,892,991 3,113,224 3,113,224 18,510

14,014 13,504
Par Value 1,000 1,000 1,000 1,000 1,000 12,591
14,734
11,582
Total Equity 11,581,734 14,013,836 12,590,580 13,503,834 18,510,124
10,958
Growth (%) 21.00% -10.16% 7.25% 37.07% 7,182
Total Revenues 14,857,973 15,573,517 13,394,375 13,706,715 12,203,607

Growth (%) 4.82% -13.99% 2.33%
-370
2014 2015 2016 2017 Sep-18
Cost of Revenues 13,134,207 13,952,174 11,914,588 12,228,018 11,029,844

Gross Profit 1,723,766 1,621,343 1,479,787 1,478,696 1,173,763
Expenses (Income) 1,451,144 1,430,421 1,332,824 1,125,365 768,231
Operating Profit 272,622 190,922 146,963 353,332 405,531 15,574
14,858
Growth (%) -29.97% -23.02% 140.42% 13,394 13,707
15,574
12,204
12,397
Other Income (Expenses) -134,806 -361,808 -135,112 128,191 3,303,101

Income before Tax 137,816 -170,886 11,851 481,523 3,708,632 9,220
Tax -116,799 -192,168 -90,975 111,527 7,838

Profit for the period 254,615 21,282 102,826 369,996 3,700,795 6,043
Growth (%) -91.64% 383.16% 259.83%

2,866
Period Attributable 254,615 21,282 102,826 369,996 3,700,795 -311
Comprehensive Income 274,438 388,425 -246,013 373,098 3,729,742 2014 2015 2016 2017 Sep-18
Comprehensive Attributable 274,438 388,425 -246,013 373,098 3,729,742
Current Ratio (%) 190.01 143.22 139.45 143.81 173.80
3,701
Dividend (Rp) 10.00 5.00 5.00 30.00 - 3,701
EPS (Rp) 95.31 7.97 2.86 118.85 1,188.73

BV (Rp) 4,335.45 5,245.87 350.78 4,337.57 5,945.65 2,946
DAR (X) 0.66 0.64 0.62 0.61 0.58

DER(X) 1.91 1.81 1.66 1.59 1.37
2,191
ROA (%) 0.76 0.05 0.31 1.06 8.45 1,436
ROE (%) 2.20 0.15 0.82 2.74 19.99

GPM (%) 11.60 10.41 11.05 10.79 9.62 681
255 370
21 103
OPM (%) 1.83 1.23 1.10 2.58 3.32
NPM (%) 1.71 0.14 0.77 2.70 30.33
-74
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 10.49 62.76 174.53 25.24 -
Yield (%) 1.18 1.01 0.68 1.03 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

TELEKOMUNIKASI INDONESIA
(PERSERO) TBK.
Company Profile
PT Telekomunikasi Indonesia (Persero) Tbk. was established on Oktober 23, 1856 by The Dutch Company
with The name “Post In Telegraafdienst”. The Company has major businesses in fixed line telephony,
internet and data communications. In 1995, The Company became a privatised company when shares
went on sale through an IPO on the Jakarta Stock Exchange and the Surabaya Stock Exchange.
In order to serve customers better as well as to grow digital business, Telkom Group continues to invest
in digital infrastructure including access network, backbone network and data center. Telkom continues
to strengthen broadband connectivity services as its core business, develop digital mediation platform and
digital services. These are the three pillars for Telkom’s digital business growth in order to increase its
competitiveness and company value.
The Company business is to provide telecommunications networks and telecommunications and
information services, and to optimize the Company’s resources. To attain the aforementioned objectives,
the Company may undertake business activities that incorporate the Main Business and Supporting
Business.
In 2018 the Company was awarded: A total of 57 awards won by Telkom consisted of one Grand Stevie,
14 Gold, 30 Silver and 12 Bronze for business innovations in various aspects, including Innovation in
Information Technology, Health & Wellness, Transportation & Logistics, Social Apps, Customer Service,
Government Services, and Business Utility Apps, The Most Promising Company in Strategic Marketing",
"The Most Promising Company in Tactical Marketing (Sales and Service)", and "The Most Promising
Company in Branding Campaign (ATL, BTL, PR, Digital) at Marketeers Award 2018, Best Company to Work
for in Asia 2018, Best of The Best BUMN at Revolusi Mental BUMN Award 2018, TOP Brand 2018 Internet
Service Provider Fixed category, “The Most Trusted Company” based on Corporate Governance Perception
Index (CGPI), etc.
The Company’s head office is located at Telkom Landmark Tower, 29th floor, Jl. Jend Gatot Subroto Kav
52 Jakarta 12710. As of September 30th, 2018, the Company and subsidiaries had 24.088 employees.
February 2019
Disclaimer:

TLKM Telekomunikasi Indonesia (Persero) Tbk.

Industry Sub Sector : Telecommunication (73) Market Capitalization : 386,342,644,740,000
4 | 386.3T | 5.21% | 26.83%
3 | 108.8T | 5.24% | 16.63%

Established Date : 24-Sep-1991 1. Republic of Indonesia 51,602,353,560 : 52.09%
Underwriter IPO :
F/I
PT Makindo Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1995 24.48 7-Jun-96 10-Jun-96 18-Jun-96 17-Jul-96 F
PT Datindo Entrycom 1996 41.25 13-May-97 14-May-97 23-May-97 20-Jun-97 F
1997 32.75 22-May-98 25-May-98 2-Jun-98 1-Jul-98 F
BOARD OF COMMISSIONERS 1997 15.75 23-Nov-98 24-Nov-98 2-Dec-98 30-Dec-98 F
1. Hendri Saparini 1998 35.69 24-May-99 25-May-99 2-Jun-99 1-Jul-99 F
2. Cahyana Ahmadjayadi *) 1998 50 : 4 24-Jun-99 25-Jun-99 5-Jul-99 2-Aug-99 BS
3. Edwin Hidayat Abdullah 1998 15.30 24-May-99 25-May-99 2-Jun-99 30-Dec-99 F
4. Isa Rachmatarwata 1999 53.88 26-Apr-00 27-Apr-00 5-May-00 22-May-00 F
5. Margiyono Darsa Sumarja *) 1999 53.88 9-Oct-00 10-Oct-00 18-Oct-00 1-Nov-00 F
6. Pamijati Pamela Johanna *) 2000 44.08 31-May-01 1-Jun-01 7-Jun-01 21-Jun-01 I
7. Rinaldi Firmansyah 2000 44.08 10-Oct-01 11-Oct-01 17-Oct-01 31-Oct-01 F
2002 331.16 3-Jun-03 4-Jun-03 6-Jun-03 12-Jun-03 F
BOARD OF DIRECTORS 2003 301.95 23-Aug-04 24-Aug-04 26-Aug-04 7-Sep-04 F
1. Alex Janangkih Sinaga 2004 7.11 23-Dec-04 27-Dec-04 29-Dec-04 6-Jan-05 I
2. Abdus Somad Arief 2004 144.90 15-Jul-05 18-Jul-05 20-Jul-05 3-Aug-05 F
3. David Bangun 2005 218.86 21-Jul-06 24-Jul-06 26-Jul-06 9-Aug-06 F
4. Dian Rachmawan 2006 48.45 21-Dec-06 22-Dec-06 27-Dec-06 2-Jan-07 I
5. Harry Mozarta Zen 2006 254.76 20-Jul-07 23-Jul-07 25-Jul-07 8-Aug-07 F
6. Herdy Rosadi Harman 2007 48.45 29-Nov-07 30-Nov-07 4-Dec-07 18-Dec-07 I
7. Siti Choiriana 2007 309.42 11-Jul-08 14-Jul-08 16-Jul-08 31-Jul-08 F
8. Zulhelfi Abidin 2007 97.73 9-Oct-08 10-Oct-08 14-Oct-08 28-Oct-08 F
2008 296.94 7-Jul-09 8-Jul-09 10-Jul-09 27-Jul-09 F
AUDIT COMMITTEE 2009 26.65 9-Dec-09 10-Dec-09 14-Dec-09 29-Dec-09 I
1. Margiyono Darsasumarja 2009 261.41 7-Jul-10 8-Jul-10 12-Jul-10 26-Jul-10 F
2. Andi Setiawan 2010 26.75 22-Dec-10 23-Dec-10 28-Dec-10 11-Jan-11 I
3. Cahyana Ahmadjayadi 2010 295.84 13-Jun-11 14-Jun-11 16-Jun-11 1-Jul-11 F
4. Rinaldi Firmansyah 2011 371.05 5-Jun-12 6-Jun-12 8-Jun-12 22-Jun-12 F
5. Sarimin Mietra Sardi 2012 436.10 29-May-13 30-May-13 3-Jun-13 18-Jun-13 F
6. Tjatur Purwadi 2013 102.40 28-Apr-14 29-Apr-14 2-May-14 19-May-14 F
2015 94.64 29-Apr-16 2-May-16 4-May-16 26-May-16 F
CORPORATE SECRETARY 2016 19.38 14-Dec-16 15-Dec-16 19-Dec-16 27-Dec-16 I
Andi Setiawan 2016 136.76 2-May-17 3-May-17 5-May-17 26-May-17 F
2017 167.66 7-May-18 8-May-18 11-May-18 31-May-18 F
HEAD OFFICE
Telkom Landmark Tower, 39th Floor ISSUED HISTORY
Jl. Jendral Gatot Subroto Kav 52 Listing Trading
Jakarta 12710 No. Type of Listing Shares Date Date
Phone : (021) 521-5109 1. Negara RI (Series A) 1 14-Nov-95 14-Nov-95
Fax : (021) 522-0500 2. Negara RI (Series B) (C/ L) 7,466,665,999 14-Nov-95 14-Nov-95
Homepage : www.astragraphia.co.id 3. First Issue 933,333,000 14-Nov-95 14-Nov-95
Email : corporate_comm@telkom.co.id 4. First Issue (LN) 700,000,000 14-Nov-95 14-Nov-95
investor@telkom.co.id 5. First Issue (Divestment) 233,334,000 14-Nov-95 14-Nov-95
andi.setiawan@telkom.co.id 6. Bonus Shares 746,666,640 3-Aug-99 3-Aug-99
8. Stock Split 80,639,997,120 28-Aug-13 28-Aug-13
9. Delisting -1,737,779,800 4-Sep-18 4-Sep-18


TRADING ACTIVITIES
Telekomunikasi Indonesia (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
5,000 2,400 Jan-15 2,930 2,780 2,830 89,423 1,809,529 5,148,840 21
Feb-15 3,020 2,800 2,935 110,113 2,270,639 6,527,476 19
4,375 2,100 Mar-15 2,995 2,770 2,890 119,901 2,438,708 7,127,764 22
Apr-15 2,910 2,595 2,615 117,916 2,712,082 7,596,492 21
May-15 2,895 2,620 2,845 108,012 2,139,833 6,010,790 19
3,750 1,800
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
3,125 1,500
Aug-15 2,970 2,590 2,870 142,706 2,079,634 5,899,128 20
Sep-15 2,875 2,485 2,645 108,224 1,393,722 3,782,598 21
2,500 1,200
Oct-15 2,830 2,600 2,680 118,031 1,786,848 4,869,451 21
Nov-15 2,980 2,660 2,930 100,904 1,724,444 4,878,723 21
1,875 900 Dec-15 3,170 2,900 3,105 113,512 2,208,650 6,693,917 19
1,250 600 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
625 300 Mar-16 3,500 3,250 3,325 158,527 2,865,640 9,655,758 21
Apr-16 3,810 3,305 3,550 149,352 2,438,118 8,628,631 21
May-16 3,800 3,410 3,700 113,943 2,530,721 9,247,849 20
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
Aug-16 4,570 4,060 4,210 171,377 2,735,084 11,600,508 22
Sep-16 4,400 3,950 4,310 146,869 2,597,603 10,854,249 21
Infrastructure, Utilities and Transportation Index Nov-16 4,300 3,640 3,780 185,349 3,064,343 12,205,850 22
January 2015 - January 2019 Dec-16 4,020 3,670 3,980 128,029 1,714,691 6,636,241 20
75%
Jan-17 4,030 3,780 3,870 104,153 1,570,645 6,187,403 21
60% Feb-17 3,980 3,830 3,850 99,554 1,864,775 7,248,139 19
Mar-17 4,190 3,810 4,130 140,069 2,195,885 8,830,526 22
45% Apr-17 4,520 4,010 4,370 96,536 1,932,288 8,208,882 17
May-17 4,670 4,270 4,350 136,167 2,109,583 9,260,680 20
36.4%
30% Jun-17 4,540 4,290 4,520 90,159 2,173,809 9,495,629 15
24.6% Jul-17 4,790 4,500 4,690 134,755 1,903,450 8,824,948 21
Aug-17 4,840 4,650 4,690 108,618 1,435,783 6,811,052 22
15%
Sep-17 4,750 4,610 4,680 95,765 1,886,689 8,857,408 19
Oct-17 4,710 4,010 4,030 235,688 4,707,518 20,396,900 22
- 1.2%
Nov-17 4,350 3,910 4,150 185,800 3,752,680 15,536,861 22
Dec-17 4,460 4,110 4,440 106,753 1,630,535 6,887,364 18
-15%
Jan-18 4,460 3,920 3,990 234,943 3,438,810 14,159,556 22

-30% Feb-18 4,080 3,920 4,000 119,824 1,872,198 7,507,237 19
Mar-18 4,200 3,520 3,600 170,488 2,998,081 11,568,636 21
-45% Apr-18 3,890 3,570 3,830 141,251 2,042,838 7,621,518 21
Jun-18 3,860 3,510 3,750 131,922 2,262,642 8,336,063 13
Jul-18 4,110 3,550 3,570 172,183 2,164,934 8,438,773 22
Days 244 246 238 240 22 Dec-18 3,840 3,610 3,750 172,333 1,820,646 6,789,913 18
Price (Rupiah) Jan-19 4,050 3,690 3,900 200,621 2,882,893 11,097,798 22

High 3,170 4,570 4,840 4,460 4,050
Low 2,485 3,045 3,780 3,250 3,690
Close 3,105 3,980 4,440 3,750 3,900
Close* 3,105 3,980 4,440 3,750 3,900
PER (X) 20.21 20.42 20.21 19.58 20.36

PER Industry (X) 9.49 8.16 16.02 9.50 10.05
PBV (X) 3.35 4.23 3.99 3.50 3.63


Receivables 6,848,000 7,872,000 7,900,000 9,564,000 18,019,000

474,000 528,000 584,000 631,000 785,000 170,000
Inventories
Current Assets 33,762,000 47,912,000 47,701,000 47,561,000 46,500,000
127,500
Fixed Assets 94,809,000 103,700,000 114,498,000 130,171,000 139,336,000
Other Assets - - - 12,270,000 9,630,000
85,000
Total Assets 140,895,000 166,173,000 179,611,000 198,484,000 204,893,000
Growth (%) 17.94% 8.09% 10.51% 3.23% 42,500

Growth (%) 32.82% 1.82% 16.59% 14.19%
5,040,000 5,040,000 5,040,000 5,040,000 5,040,000 105,544 106,287
Paid up Capital 112,130
93,428
Par Value 50 50 50 50 50
89,255

Total Equity 86,125,000 93,428,000 105,544,000 112,130,000 106,287,000
66,381
Growth (%) 8.48% 12.97% 6.24% -5.21% 43,506
Total Revenues 89,696,000 102,470,000 116,333,000 128,256,000 99,203,000

Growth (%) 14.24% 13.53% 10.25%
-2,243
2014 2015 2016 2017 Sep-18
Gross Profit 89,696,000 102,470,000 116,333,000 128,256,000 99,203,000
Expenses (Income) 60,319,000 70,052,000 77,138,000 84,323,000 69,761,000
116,333
Growth (%) 10.35% 20.91% 12.09%
128,256
102,470 99,203
102,092
89,696
Other Income (Expenses) -593,000 -1,076,000 -1,006,000 -1,274,000 -1,770,000
Tax 7,338,000 8,025,000 9,017,000 9,958,000 6,985,000

Growth (%) 8.72% 25.11% 12.10%

23,599
Current Ratio (%) 106.22 135.29 119.97 104.82 92.90
32,701
Dividend (Rp) - 94.64 156.14 167.66 - 32,701
29,172
EPS (Rp) 145.22 153.66 171.93 219.69 141.19
BV (Rp) 854.41 926.87 1,047.06 1,112.40 1,054.43 23,317
21,446
26,030
20,687
DAR (X) 0.39 0.44 0.41 0.44 0.48
DER(X) 0.64 0.78 0.70 0.77 0.93
19,359
ROA (%) 15.22 14.03 16.24 16.48 10.10 12,688
ROE (%) 24.90 24.96 27.64 29.16 19.46

GPM (%) 100.00 100.00 100.00 100.00 100.00 6,017
OPM (%) 32.75 31.64 33.69 34.25 29.68

NPM (%) 23.91 22.75 25.08 25.50 20.85
-654
2014 2015 2016 2017 Sep-18

Payout Ratio (%) - 61.59 90.82 76.32 -
Yield (%) - 3.05 3.92 3.78 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

CHANDRA ASRI
PETROCHEMICAL TBK.
Company Profile
PT Chandra Asri Petrochemical Tbk. is a result of merger between PT Tri Polyta Indonesia Tbk (TPI)
and PT Chandra Asri (CA) on January 1st, 2011. TPI was the largest polypropylene producer in
Indonesia and was established in 1984. CA was the producer of olefins and polyethylene products
and was established in 1989.
The Company has three subsidiaries: PT Styrindo Mono Indonesia (SMI), PT Redeco Petrolin Utama
(RPU), PT Petrokimia Butadiene Indonesia (PBI). SMI engages in styrene monomer and until today it
remains the sole styrene monomer producer in Indoneisa. RPU engages in business segment of tank
and jetty rental and also handles refined petroleum product for local and international oil companies.
PBI operates the only butadiene plant in Indonesia that produces butadiene.
PT Chandra Asri Petrochemical Tbk has a purpose of becoming Indonesia’s leading and preferred
petrochemical company with an objective to continue growing and improving it’s leadership position
through integration, development of human capital and preferred partnership, in a sustainable
manner that will contribute to the growth of Indonesia.
In 2018 the company received awards: GCG Award Top 50 Biggest Market Cap from IICD TKMPN XXII
& IQPC 2018 from WKM and AMMPI, OPEXCON 2018 from SHIFT Indonesia, admamitra Awards 2018
from Social Ministry & CSR Forum, ICQCC 2018 from The Singapore Productivity Association, Bisnis
Indonesia Award 2018 from Bisnis Indonesia, etc.
The Company is domiciled in Wisma Barito Pacific Tower A, 7th Floor Jl. Let. Jend. S. Parman Kav. 62
– 63 Jakarta. Their CAP and PBI plants located in Jl. Raya Anyer Km. 123 Ciwandan, Cilegon Banten
42447, Indonesia. SMI Plant located in Desa Mangunreja Puloampel, Serang Banten 42456. The total
number of employees of the Company at September 30th, 2018 was 2,079.
February 2019
Disclaimer:

TPIA Chandra Asri Petrochemical Tbk.

Development Board Individual Index : 1,358.649
Industry Sub Sector : Chemicals (34) Market Capitalization : 104,771,931,527,500
12 | 104.8T | 1.41% | 50.40%
76 | 4.92T | 0.24% | 83.53%

Established Date : 02-Nov-1984 1. PT Barito Pacific Tbk. 7,401,917,600 : 41.51%
Listing Date : 24-Jun-1996 (IPO Price: 2,575) 2. SCG Chemicals Company Limited 5,451,715,305 : 30.57%
Underwriter IPO : 3. Prajogo Pangestu 2,633,449,995 : 14.77%
PT Merchant Investment Corporation
PT Bank Pembangunan Indonesia DIVIDEND ANNOUNCEMENT
F/I
2007 200.00 16-Jul-08 17-Jul-08 21-Jul-08 5-Aug-08 F
1. Djoko Suyanto *) 2009 50.00 9-Apr-10 12-Apr-10 14-Apr-10 28-Apr-10 F
2. Agus Salim Pangestu 2010 65.00 11-Nov-10 12-Nov-10 16-Nov-10 1-Dec-10 I
3. Cholanat Yanaranop 2011 US$ 0.0016 14-Oct-11 17-Oct-11 19-Oct-11 2-Nov-11 I
4. Ho Hon Cheong *) 2013 US$ 0.00079 23-Jun-14 24-Jun-14 26-Jun-14 11-Jul-14 F
5. Loeki Sundjaja Putra 2015 US$ 0.00319 13-Jun-16 14-Jun-16 16-Jun-16 30-Jun-16 F
6. Tan Ek Kia 2016 US$ 0.01 2-Sep-16 5-Sep-16 7-Sep-16 15-Sep-16 I
7. Thammasak Sethaudom 2016 US$ 0.03562 9-May-17 10-May-17 15-May-17 23-May-17 F
*) Independent Commissioners 2017 US$ 0.01219 27-Oct-17 30-Oct-17 1-Nov-17 8-Nov-17 I
2017 40.61 30-Apr-18 2-May-18 4-May-18 22-May-18 F
BOARD OF DIRECTORS 2017 23.94 28-Sep-18 1-Oct-18 3-Oct-18 24-Oct-18 F
1. Erwin Ciputra
2. Baritono Prajogo Pangestu ISSUED HISTORY
3. Fransiskus Ruly Aryawan Listing Trading
4. Kulachet Dharachandra No. Type of Listing Shares Date Date
5. Somkoun Sriwattagaphong 1. Company Listing 182,550,000 24-Jun-96 24-Jun-96
6. Terry Lim Chong Thian 2. Saham Karyawan 200,000 24-Jun-96 24-Jun-96
3. ADS 74,750,000 24-Jun-96 24-Jun-96
AUDIT COMMITTEE 4. Delisting -257,500,000 7-Jul-03 7-Jul-03
1. Djoko Suyanto 5. Company Listing (Relisting) 728,401,000 26-May-08 26-May-08
2. Ahmadi Hadibroto 6. Merger with PT Chandra Asri 2,337,795,416 3-Jan-11 3-Jan-11
3. Reynold M. Batubara 7. Right Issue 66,488,061 22-Nov-13 22-Nov-13
8. Right Issue 1,680 26-Nov-13 26-Nov-13
CORPORATE SECRETARY 9. Right Issue 154,276,401 29-Nov-13 29-Nov-13
Suryandi 10. Right Issue II 268,814,399 4-Sep-17 4-Sep-17
11. Right Issue II 409,104 5-Sep-17 5-Sep-17
HEAD OFFICE 12. Right Issue II 2,148,826 6-Sep-17 6-Sep-17
Wisma Barito Pacific Tower. A, 7th Floor 13. Right Issue II 1,215,129 7-Sep-17 7-Sep-17
Jl. Let. Jend. S. Parman Kav. 62-63 14. Right Issue II 7,154,036 11-Sep-17 11-Sep-17
Jakarta 11410 15. Stock Split 14,266,816,208 21-Nov-17 21-Nov-17
Phone : (021) 530-7950
Fax : (021) 530-8930
Email : investor-relations@capcx.com
suryandi@capcx.com


TRADING ACTIVITIES
Chandra Asri Petrochemical Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
6,800 240 Jan-15 3,100 3,000 3,000 35 668 2,011 14
Feb-15 3,035 2,925 3,030 20 211 631 10
5,950 210 Mar-15 3,000 2,900 3,000 19 308 913 8
Apr-15 3,150 2,950 3,150 46 597 1,806 11
May-15 4,050 3,000 3,510 130 842 2,837 16
5,100 180
Jun-15 3,500 3,350 3,350 39 258 897 8
Jul-15 3,500 3,250 3,500 8 8 27 5
4,250 150
Aug-15 3,500 3,000 3,490 58 267 856 10
Sep-15 3,700 3,165 3,625 35 22 77 8
3,400 120
Oct-15 3,700 3,425 3,425 36 149 537 14
Nov-15 3,400 3,350 3,400 16 8 26 6
2,550 90 Dec-15 3,445 3,445 3,445 1 0.2 0.7 1
1,700 60 Jan-16 3,500 3,400 3,500 15 11 39 5

Feb-16 3,650 3,450 3,500 22 14 50 7
850 30 Mar-16 3,600 3,400 3,550 77 530 1,854 9
Apr-16 4,700 3,500 4,700 30 33 138 6
May-16 5,000 4,500 4,500 40 24 114 11
Jun-16 5,400 4,420 4,600 28 30 137 7
Jul-16 6,200 4,600 6,100 175 160 904 12
Aug-16 10,950 5,925 10,900 4,048 9,733 89,790 21
Sep-16 13,925 10,675 13,800 11,081 31,742 409,001 21
1,050%
Jan-17 22,175 20,600 22,175 25,049 41,136 877,554 21
900% 897.5% Feb-17 23,800 22,175 23,575 19,058 40,821 948,946 19
Mar-17 24,025 23,425 23,975 24,005 104,099 2,448,316 22
750% Apr-17 28,000 23,950 26,525 15,491 54,602 1,430,783 17
May-17 28,975 25,550 26,400 22,104 235,105 3,449,459 20
600% Jun-17 26,425 23,775 26,075 16,058 44,666 1,117,205 15
Jul-17 27,225 26,025 27,100 17,345 55,440 1,471,963 21
Aug-17 27,225 20,975 21,150 23,518 244,458 4,765,179 22
450%
Sep-17 24,100 20,700 23,825 19,832 50,836 1,126,309 19
Oct-17 28,400 23,200 28,400 19,347 68,014 1,256,870 22
300%
Nov-17 29,250 5,450 5,475 29,572 99,931 1,238,522 22
Dec-17 6,000 5,325 6,000 27,284 198,518 1,117,381 18
150%
68.3% Jan-18 6,575 5,325 6,525 36,497 201,131 1,183,987 22

- 24.6%
Feb-18 6,675 5,675 6,150 26,378 102,510 635,608 19
Mar-18 6,275 5,500 6,225 26,831 114,486 674,534 21
-150% Apr-18 6,425 5,975 6,050 22,743 93,886 581,901 21
Jun-18 5,875 5,075 5,600 14,001 50,042 273,124 13
Jul-18 5,600 4,820 5,000 16,162 57,900 299,682 22
Volume (Million Sh.) 3 149 1,238 1,023 59 Sep-18 5,375 4,690 4,920 19,952 76,969 381,063 19
Value (Billion Rp) 11 2,481 21,248 5,769 334 Oct-18 4,920 4,300 4,810 11,245 53,714 247,578 23
Frequency (Thou. X) 0.4 82 259 238 17 Nov-18 5,375 4,540 5,325 13,765 71,230 348,805 21
Days 111 162 238 240 22 Dec-18 5,925 5,125 5,925 10,941 43,111 235,875 18
Price (Rupiah) Jan-19 6,050 5,375 5,875 17,114 59,071 334,173 22

High 4,050 20,675 29,250 6,675 6,050
Low 2,900 3,400 5,325 4,300 5,375
Close 3,445 20,650 6,000 5,925 5,875
Close* 676 4,054 6,000 5,925 5,875
PER (X) 31.17 18,077.10 24.89 30.40 30.15

PER Industry (X) 4.10 20.86 13.10 13.74 15.89
PBV (X) 0.93 4,935.45 4.75 3.95 3.92


Receivables 1,347,600 736,939 1,865,266 2,802,390 5,173,003

2,716,734 2,614,809 2,680,589 3,215,604 4,263,379 37,000
Inventories
Current Assets 8,290,439 6,106,605 9,304,779 19,359,902 20,811,549
27,750
Fixed Assets 14,228,312 19,172,060 17,691,772 19,612,965 24,362,560
Other Assets 66,231 35,675 34,262 32,447 34,919
18,500
Total Assets 23,928,464 27,296,992 28,608,858 40,471,995 45,701,118
Growth (%) 14.08% 4.81% 41.47% 12.92% 9,250

Growth (%) 9.02% -7.20% 34.62% 6.15%
Paid up Capital 3,286,963 3,286,963 3,286,963 4,224,097 3,566,704 26,740
22,609
Par Value 1,000 1,000 1,000 200 200
21,285
Retained Earnings 4,906,100 6,046,350 7,613,514 11,206,702 14,177 15,339

12,999
Total Equity 10,813,445 12,998,502 15,339,451 22,609,200 26,740,168
15,830
10,813
Growth (%) 20.21% 18.01% 47.39% 18.27% 10,375
Total Revenues 30,603,034 20,191,087 25,935,994 32,765,960 29,295,027

Growth (%) -34.02% 28.45% 26.33%
-535
2014 2015 2016 2017 Sep-18
Cost of Revenues 29,141,782 18,055,138 19,294,338 25,382,246 24,141,148

Gross Profit 1,461,252 2,135,950 6,641,657 7,383,714 5,153,879
Expenses (Income) 1,151,347 1,316,638 1,259,827 1,631,206 1,610,212
30,603
29,295
Growth (%)
32,766
25,936
26,082

Income before Tax 309,905 819,312 5,381,830 5,752,508 3,543,667 19,397
Tax 82,925 434,477 1,349,351 1,219,794 939,213

Profit for the period 226,980 384,834 4,032,480 4,532,714 2,604,454 12,713
Growth (%) 69.55% 947.85% 12.41%

6,029
Period Attributable 2,252,274 386,021 4,031,015 4,316,718 2,606,484 -655
Comprehensive Income 226,172 380,027 4,010,646 4,511,877 2,604,454 2014 2015 2016 2017 Sep-18
Comprehensive Attributable 224,144 385,714 4,008,335 4,316,718 2,606,484
Current Ratio (%) 139.45 110.29 152.56 243.37 256.34
4,533
Dividend (Rp) - - - 64.55 - 4,533
4,032
EPS (Rp) 685.21 117.44 1,226.36 204.39 146.16
BV (Rp) 3,289.80 3,954.56 4,666.76 1,070.49 1,499.43 3,608
DAR (X) 0.55 0.52 0.46 0.44 0.41 2,604

DER(X) 1.21 1.10 0.87 0.79 0.71
2,683
ROA (%) 0.95 1.41 14.10 11.20 5.70 1,759
ROE (%) 2.10 2.96 26.29 20.05 9.74

GPM (%) 4.77 10.58 25.61 22.53 17.59 385
227
834
OPM (%) - - - - -
NPM (%) 0.74 1.91 15.55 13.83 8.89
-91
2014 2015 2016 2017 Sep-18

Payout Ratio (%) - - - 31.58 -
Yield (%) - - - 1.08 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

UNITED TRACTORS TBK.

Company Profile
PT United Tractors Tbk. was established on October 13th, 1972, under the name of PT Inter Astra
Motor Works, as heavy equipment distributor in Indonesia. The Company commenced commercial
operations in 1973. The Company is the leading and the largest distributor of heavy equipments in
Indonesia, providing products from world-renowned brands such as Komatsu, UD Trucks, Scania,
Bomag, Tadano, and Komatsu Forest. On September 19th, 1989, the Company listed its shares in
Jakarta and Surabaya Stock Exchange.
The Company becomes a major player in its respective sectors and industries in the country through
five business pillars, i,e, Construction Machinery, Mining Contracting, Mining, Construction Industry
and Energy. Construction Machinery pillar offers sales of heavy equipment and transportation
vehicles as well as their spare parts, attachments and related services. Available products are from
various trusted brands, which are Komatsu, UD Trucks, Scania, Tadano and Bomag.
The Company head office is located at Jl. Raya Bekasi KM.22 Cakung, Jakarta 13910 Indonesia, and
there are several supporting offices located in various strategic provinces and cities around the
country. Currently the Company operates 212 points of services, which include a vast network of 20
branches, 22 site supports, 10 representative offices, 17 mine offices and other service points. And
there are 55 subsidiaries
As of September 30th, 2018, the Group had approximately 32,481 employees.
February 2019
Disclaimer:

UNTR United Tractors Tbk.

Industry Sub Sector : Wholesale (Durable & Non-Durable Goods) (91) Market Capitalization : 95,957,726,373,600
13 | 96.0T | 1.29% | 51.70%
11 | 44.4T | 2.14% | 38.40%

Established Date : 19-Oct-1972 1. PT Astra International Tbk. 2,219,317,358 : 59.50%
Listing Date : 19-Sep-1989 (IPO Price: 7,250) 2. Public (<5%) 1,510,817,778 : 40.50%
Underwriter IPO :
PT Aseam Indonesia DIVIDEND ANNOUNCEMENT
PT (Persero) Danareksa Bonus Cash Recording Payment
F/I
PT Finconesia Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 1995 85.00 20-Jun-96 21-Jun-96 1-Jul-96 31-Jul-96 F
PT Raya Saham Registra 1996 60.00 21-Nov-96 22-Nov-96 2-Dec-96 27-Dec-96 I
1996 100.00 26-Jun-97 27-Jun-97 7-Jul-97 28-Jul-97 F
BOARD OF COMMISSIONERS 1999 5:9 8-Jun-00 9-Jun-00 14-Jun-00 23-Jun-00 BS
1. Prijono Sugiarto 2004 20.00 30-Nov-04 1-Dec-04 3-Dec-04 17-Dec-04 I
2. Buntoro Muljono *) 2004 35.00 23-Jun-05 22-Jun-05 27-Jun-05 11-Jul-05 F
3. Chiew Sin Cheok 2005 110.00 12-Jun-06 13-Jun-06 15-Jun-06 29-Jun-06 F
4. Djoko Pranoto Santoso 2006 45.00 13-Oct-06 16-Oct-06 18-Oct-06 3-Nov-06 I
5. Djony Bunarto Tjondro 2006 85.00 20-Jun-07 21-Jun-07 25-Jun-07 8-Jul-07 F
6. Nanan Soekarna *) 2007 60.00 10-Oct-07 11-Oct-07 18-Oct-07 1-Nov-07 I
2008 100.00 23-Oct-08 24-Oct-08 28-Oct-08 11-Nov-08 I
1. Gidion Hasan 2009 330.00 14-Jun-10 15-Jun-10 17-Jun-10 1-Jul-10 F
2. Edhie Sarwono 2010 160.00 27-Oct-10 28-Oct-10 1-Nov-10 12-Nov-10 I
3. Franciscus Xaverius Laksana Kesuma 2010 430.00 31-May-11 1-Jun-11 6-Jun-11 13-Jun-11 F
4. Idot Supriadi 2011 185.00 27-Oct-11 28-Oct-11 1-Nov-11 11-Nov-11 I
5. Iman Nurwahyu 2011 635.00 11-May-12 14-May-12 16-May-12 30-May-12 F
6. Iwan Hadiantoro 2012 210.00 16-Oct-12 17-Oct-12 19-Oct-12 2-Nov-12 I
7. Loudy Irwanto Ellias 2012 620.00 14-May-13 15-May-13 17-May-13 31-May-13 F
2013 175.00 2-Oct-13 3-Oct-13 7-Oct-13 23-Oct-13 I
AUDIT COMMITTEE 2013 515.00 14-May-14 16-May-14 20-May-14 5-Jun-14 F
1. Buntoro Muljono 2014 195.00 9-Oct-14 10-Oct-14 14-Oct-14 28-Oct-14 I
2. Handy Effendy Halim 2014 740.00 28-Apr-15 29-Apr-15 4-May-15 22-May-15 F
3. Lianny Leo 2015 251.00 28-Sep-15 29-Sep-15 1-Oct-15 16-Oct-15 I
2015 440.00 2-May-16 3-May-16 9-May-16 23-May-16 F
CORPORATE SECRETARY 2016 143.00 28-Sep-16 29-Sep-16 3-Oct-16 17-Oct-16 I
Sara K. Loebis 2017 282.00 5-Oct-17 6-Oct-17 10-Oct-17 23-Oct-17 I
2017 410.00 29-Nov-17 30-Nov-17 5-Dec-17 20-Dec-17 I
HEAD OFFICE 2017 611.00 23-Apr-18 24-Apr-18 26-Apr-18 15-May-18 F
Jl. Raya Bekasi Km. 22, Cakung 2018 365.00 4-Oct-18 5-Oct-18 9-Oct-18 22-Oct-18 I
Jakarta - 13910
Fax : (021) 460-0655; 460-0677; 460-0657 Listing Trading
Email : sarakl@unitedtractors.com 1. First Issue 2,700,000 19-Sep-89 19-Sep-89
ir@unitedtractors.com 2. Partial Listing 8,436,000 T: 26-Dec-89 : 27-Feb-91
3. Right Issue 2,151,579,636 T: 27-May-91 : 6-Jun-11
4. Company Listing 11,864,000 T: 25-Mar-92 : 1-Apr-92
5. Bonus Shares 351,900,000 T: 4-Apr-94 : 26-Jun-00
7. ESOP Conversion 1,201,500 T: 27-May-03 : 12-Jun-03
8. ESOP Conversion II 43,254,000 T: 11-Jun-03 : 14-Jul-05


TRADING ACTIVITIES
United Tractors Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
42,000 40.0 Jan-15 18,275 16,850 17,900 52,951 63,591 1,113,496 21
Feb-15 21,025 17,525 20,750 50,302 82,703 1,569,832 19
36,750 35.0 Mar-15 22,350 20,300 21,800 71,498 93,856 2,010,940 22
Apr-15 23,400 20,475 21,400 53,700 82,243 1,859,237 21
May-15 24,000 20,300 20,300 62,249 66,582 1,499,440 19
31,500 30.0
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
26,250 25.0
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
21,000 20.0
Oct-15 21,200 16,825 18,100 82,824 94,272 1,782,476 21
Nov-15 19,250 16,050 16,300 96,641 93,992 1,659,051 21
15,750 15.0 Dec-15 17,025 13,925 16,950 80,623 86,646 1,348,310 19
10,500 10.0 Jan-16 17,450 15,625 17,400 72,205 79,869 1,311,592 20

Feb-16 17,475 14,475 15,525 66,700 66,192 1,058,219 20
5,250 5.0 Mar-16 15,725 14,825 15,300 76,498 104,001 1,593,464 21
Apr-16 17,100 14,600 15,000 58,588 101,144 1,587,539 21
May-16 15,050 12,550 14,200 63,119 86,177 1,182,212 20
Jun-16 15,200 13,375 14,800 60,247 95,185 1,377,860 22
Jul-16 16,350 14,600 15,750 59,316 123,776 1,942,498 16
Aug-16 18,950 15,900 18,750 69,945 163,358 2,861,361 22
Sep-16 19,250 16,525 17,700 62,436 155,946 2,798,517 21
150%
Jan-17 22,975 20,575 21,850 54,239 75,436 1,652,241 21
125% Feb-17 25,525 22,075 24,650 51,491 95,386 2,256,137 19
Mar-17 28,200 23,750 26,500 85,633 125,481 3,290,455 22
100% Apr-17 29,450 26,150 26,900 65,561 83,780 2,336,730 17
May-17 27,775 22,875 27,775 104,942 154,671 3,861,092 20
75% Jun-17 27,700 25,975 27,450 60,503 67,567 1,815,994 15
Jul-17 30,200 26,175 30,100 66,277 77,837 2,207,645 21
Aug-17 31,000 28,500 30,300 64,765 67,549 2,014,786 22
50% 48.7%
Sep-17 32,400 29,500 32,000 59,792 56,945 1,763,888 19
Oct-17 35,800 31,800 34,675 96,112 103,008 3,474,253 22
25% 24.6%
Nov-17 37,250 30,775 33,500 126,795 120,133 3,998,732 22
Dec-17 35,400 31,700 35,400 74,123 71,798 2,342,021 18
-
-9.5%
Jan-18 40,500 32,800 38,900 97,895 90,952 3,393,319 22
-25% Feb-18 39,700 34,850 35,600 84,784 92,990 3,473,470 19
Mar-18 37,000 31,050 32,000 115,430 134,212 4,514,150 21
-50% Apr-18 38,200 31,850 34,100 92,237 109,111 3,788,446 21
Jun-18 36,500 31,000 31,600 70,929 63,037 2,127,716 13
Jul-18 36,075 31,150 35,250 95,281 82,027 2,748,140 22
Days 244 246 238 240 22 Dec-18 30,275 27,000 27,350 131,863 129,790 3,747,726 18
Price (Rupiah) Jan-19 29,525 25,525 25,725 200,144 200,334 5,382,092 22

High 24,000 23,975 37,250 40,500 29,525
Low 13,925 12,550 20,575 27,000 25,525
Close 16,950 21,250 35,400 27,350 25,725
Close* 16,950 21,250 35,400 27,350 25,725
PER (X) 16.41 19.01 17.84 8.43 7.93

PER Industry (X) 14.53 19.07 17.44 5.25 6.49
PBV (X) 1.61 1.97 2.78 1.87 1.76


Receivables 13,586,675 12,169,624 12,114,511 18,187,643 20,348,838

7,770,086 8,328,331 7,108,044 7,854,913 12,356,001 90,000
Inventories
Current Assets 33,579,799 39,259,708 42,197,323 51,202,200 68,518,871
67,500
Fixed Assets 13,625,012 12,659,736 12,072,399 16,374,852 21,206,785
45,000
Total Assets 60,292,031 61,715,399 63,991,229 82,262,093 107,579,342
Growth (%) 2.36% 3.69% 28.55% 30.78% 22,500

Growth (%) 3.45% -4.88% 62.50% 52.92%
Paid up Capital 932,534 932,534 932,534 932,534 932,534
47,538
54,480

38,577 39,250
Par Value 250 250 250 250 250
43,366

Total Equity 38,576,734 39,250,325 42,621,943 47,537,925 54,479,562
32,252
Growth (%) 1.75% 8.59% 11.53% 14.60% 21,138
Total Revenues 53,141,768 49,347,479 45,539,238 64,559,204 61,125,423

Growth (%) -7.14% -7.72% 41.77%
-1,090
2014 2015 2016 2017 Sep-18
Cost of Revenues 41,071,359 37,645,186 35,878,274 50,075,332 46,046,452

Gross Profit 12,070,409 11,702,293 9,660,964 14,483,872 15,078,971
Expenses (Income) 5,448,551 7,509,547 2,930,934 3,961,215 2,408,711
61,125
Growth (%) 53,142
49,347
51,389
45,539
Tax 1,781,888 1,400,307 1,625,553 2,849,335 3,246,158

Growth (%) -42.30% 82.80% 50.33%

11,879
Current Ratio (%) 206.04 214.77 229.88 180.44 149.09
9,424
Dividend (Rp) 935.00 691.00 143.00 1,303.00 365.00 9,424
EPS (Rp) 1,439.52 1,033.07 1,341.03 1,984.64 2,432.04 7,673

BV (Rp) 10,341.91 10,522.49 11,426.38 12,744.29 14,605.25 7,502
DAR (X) 0.36 0.36 0.33 0.42 0.49 5,104

4,840
DER(X) 0.56 0.57 0.50 0.73 0.97
5,579
ROA (%) 8.03 4.52 7.98 9.33 8.76 3,657
2,792
ROE (%) 12.55 7.11 11.98 16.14 17.30
GPM (%) 22.71 23.71 21.21 22.44 24.67 1,734
OPM (%) - - - - -
NPM (%) 9.11 5.66 11.21 11.89 15.42
-188
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 64.95 66.89 10.66 65.65 15.01
Yield (%) 5.39 4.08 0.67 3.68 1.11
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

UNILEVER INDONESIA TBK.

Company Profile
PT Unilever Indonesia Tbk. was established on December 5th, 1933 as Lever Zeepfabrieken N.V., a
subsidiary of Lever Brothers which initially operated a soap factory at Angke, Jakarta. The name was
changed to Unilever Indonesia on July 22, 1980. The Company has grown to be a leading company for
the Fast Moving Consumer Goods Catagory in Indonesia.
The Company is engaged in the manufacturing, marketing and distribution of consumer goods including
soaps, detergents, margarine, dairy based foods, ice cream, cosmetic products, tea based beverages
and fruit juice. The Company serves as part of Unilever Group N.V./plc to produce manufacture &
supervise all of most Unilever brands. The Company’s portfolio includes many of the world’s best known
and well-loved brands, such as: pepsodent, Lux, Lifebuoy, Dove, Sunsilk, Clear, Rexona, Vaseline, Rinso,
Molto, Sunlight, Walls, Blue Band, Royco, Bango, etc. The Company sells its products through a network
independent distributors.
The purpose of the Company is to achieve the Love and appreciation from Indonesian people by
Touching the life of everyday people in Indonesia, and the objective’s of the Company is to create a
better future every day, to help costumer feel good, look good and enjoy live through good brand and
service, to inspire people to take small steps everyday that when combined can bring great changes to
the world, to constantly developing new ways of doing business that enable us to grow while reducing
our impact in the envirotment.
The Company’s majority shareholder as at 31 December 2018 is Unilever Indonesia Holding B.V. ("UIH"),
while its ultimate parent entity is Unilever N.V., Netherlands.
The Company’s had Office is located St Grha Unilever, Green Office Park Kav.3 Jl. BSD Boulevard Barat,
BSD City, Tanggerang 15345. As at December 31st, 2018 the Company had 5,729 employees.
February 2019
Disclaimer:

UNVR Unilever Indonesia Tbk.

Industry Sub Sector : Cosmetics And Household (54) Market Capitalization : 381,500,000,000,000
5 | 381.5T | 5.14% | 31.97%
17 | 28.2T | 1.36% | 47.31%

Established Date : 16-Apr-1905 1. Unilever Indonesia Holding BV 6,484,877,500 : 84.99%
Listing Date : 11-Jan-1982 (IPO Price: 3,175) 2. Public (<5%) 1,145,122,500 : 15.01%
Underwriter IPO :
PT Aseam Indonesia DIVIDEND ANNOUNCEMENT
PT Inter-Pacific Securities Bonus Cash Recording Payment
F/I
PT Aseam Indonesia Year Shares Dividend Cum Date Ex Date Date Date
PT Danareksa Sekuritas 2000 200.00 28-Nov-00 29-Nov-00 4-Dec-00 18-Dec-00 I
PT Merchant Investment Corporation 2000 490.00 12-Jul-01 13-Jul-01 18-Jul-01 1-Aug-01 F
PT Merincorp S.I. 2001 250.00 19-Nov-01 20-Nov-01 23-Nov-01 7-Dec-01 I
PT Danareksa 2001 250.00 28-Jan-02 29-Jan-02 1-Feb-02 18-Feb-02 I
PT Sharestar Indonesia 2001 300.00 5-Nov-02 6-Nov-02 8-Nov-02 22-Nov-02 I
2002 400.00 11-Feb-03 13-Feb-03 17-Feb-03 4-Mar-03 I
1. Maurits Daniel Rudolf Lalisang 2003 50.00 17-Feb-04 18-Feb-04 20-Feb-04 5-Mar-04 I
2. Alexander Steven Rusli *) 2003 80.00 15-Jul-04 16-Jul-04 20-Jul-04 3-Aug-04 F
3. Erry Firmansyah *) 2004 70.00 2-Dec-04 3-Dec-04 6-Dec-04 17-Dec-04 I
4. Hikmahanto Juwana *) 2004 60.00 4-Mar-05 7-Mar-05 9-Mar-05 24-Mar-05 I
5. Mahendra Siregar *) 2004 80.00 8-Jul-05 11-Jul-05 13-Jul-05 27-Jul-05 F
*) Independent Commissioners 2005 60.00 5-Dec-05 6-Dec-05 8-Dec-05 21-Dec-05 I
2005 120.00 22-Jun-06 23-Jun-06 27-Jun-06 11-Jul-06 F
BOARD OF DIRECTORS 2006 80.00 29-Nov-06 30-Nov-06 4-Dec-06 18-Dec-06 I
1. Hemant Bakshi 2006 125.00 22-Jun-07 25-Jun-07 27-Jun-07 11-Jul-07 F
2. Amparo Cheung Aswin 2007 90.00 28-Nov-07 29-Nov-07 3-Dec-07 14-Dec-07 I
3. Enny Hartati 2007 167.00 26-Jun-08 27-Jun-08 1-Jul-08 11-Jul-08 F
4. Hernie Raharja 2008 95.00 26-Nov-08 27-Nov-08 1-Dec-08 15-Dec-08 I
5. Ira Noviarti 2008 220.00 26-Jun-09 29-Jun-06 1-Jul-09 14-Jul-09 F
6. Jochanan Senf 2009 100.00 25-Nov-09 26-Nov-09 1-Dec-09 15-Dec-09 I
7. Sancoyo Antarikso 2009 299.00 28-Jun-10 29-Jun-10 1-Jul-10 13-Jul-10 F
8. Vikas Gupta 2010 100.00 26-Nov-10 29-Nov-10 1-Dec-10 15-Dec-10 I
9. Vikram Kumaraswamy 2010 344.00 27-Jun-11 28-Jun-11 1-Jul-11 13-Jul-11 F
10. Willy Saelan 2011 250.00 6-Dec-11 7-Dec-11 9-Dec-11 15-Dec-11 I
2011 296.00 27-Jun-12 28-Jun-12 2-Jul-12 13-Jul-12 F
AUDIT COMMITTEE 2012 300.00 10-Dec-12 11-Dec-12 13-Dec-12 20-Dec-12 I
1. Erry Firmansyah 2012 334.00 28-Jun-13 1-Jul-13 3-Jul-13 16-Jul-13 F
2. Dwi Martani 2013 330.00 2-Dec-13 3-Dec-13 5-Dec-13 12-Dec-13 I
3. Haryanto Sahari 2013 371.00 26-Jun-14 27-Jun-14 1-Jul-14 15-Jul-14 F
2014 336.00 2-Dec-14 3-Dec-14 5-Dec-14 12-Dec-14 I
CORPORATE SECRETARY 2015 342.00 1-Dec-15 2-Dec-15 4-Dec-15 17-Dec-15 I
Sancoyo Antarikso 2015 424.00 21-Jun-16 22-Jun-16 24-Jun-16 15-Jul-16 F
2016 375.00 5-Dec-16 6-Dec-16 8-Dec-16 22-Dec-16 I
HEAD OFFICE 2016 460.00 5-Jul-17 6-Jul-17 10-Jul-17 20-Jul-17 F
Green Office Park Kav.3 2017 410.00 29-Nov-17 30-Nov-17 5-Dec-17 20-Dec-17 I
Jl. BSD Boulevard Barat, BSD City 2017 505.00 31-May-18 4-Jun-18 6-Jun-18 22-Jun-18 F
Tangerang 15345 2018 410.00 15-Nov-18 16-Nov-18 21-Nov-18 5-Dec-18 I
Phone : (021) 8082-7000
Email : unvr.indonesia@unilever.com No. Type of Listing Shares Date Date
1. First Issue 9,200,000 11-Jan-82 11-Jan-82
2. Bonus Shares 1,533,334 15-Dec-89 15-Dec-89
3. Bonus Shares 717,891 22-Sep-93 22-Sep-93
4. Company Listing 64,848,775 2-Jan-98 2-Jan-98
5. Stock Split 686,700,000 6-Nov-00 6-Nov-00


TRADING ACTIVITIES
Unilever Indonesia Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
56,000 16.0 Jan-15 36,275 32,100 35,825 35,934 40,100 1,368,300 21
Feb-15 37,000 34,850 36,000 40,106 34,539 1,238,699 19
49,000 14.0 Mar-15 40,500 35,750 39,650 50,052 51,654 1,975,029 22
Apr-15 44,500 37,675 42,600 63,276 53,485 2,155,514 21
May-15 46,000 42,150 43,300 46,562 41,628 1,831,169 19
42,000 12.0
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
35,000 10.0
Aug-15 40,400 33,000 39,725 58,033 51,971 1,908,691 20
Sep-15 40,250 35,350 38,000 54,837 34,163 1,307,719 21
28,000 8.0
Oct-15 40,000 37,000 37,000 65,118 39,538 1,523,171 21
Nov-15 38,500 34,500 36,750 50,036 39,978 1,471,337 21
21,000 6.0 Dec-15 37,825 34,150 37,000 47,897 39,437 1,426,482 19
14,000 4.0 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
7,000 2.0 Mar-16 47,800 41,975 42,925 83,827 71,335 3,117,613 21
Apr-16 47,300 42,025 42,575 61,443 42,830 1,895,250 21
May-16 45,150 42,350 43,100 47,603 28,908 1,256,175 20
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
Aug-16 46,950 44,600 45,650 65,450 53,712 2,441,888 22
Sep-16 46,000 44,000 44,550 54,577 59,751 2,679,123 21
90%
Jan-17 42,000 38,800 41,200 51,627 44,325 1,784,042 21
75% Feb-17 42,900 41,100 42,175 38,576 29,829 1,253,205 19
Mar-17 44,200 41,825 43,325 46,728 45,851 1,967,676 22
60% Apr-17 45,800 43,400 44,500 32,501 35,530 1,597,678 17
53.7% May-17 50,025 44,800 46,175 63,703 58,636 2,743,131 20
45% Jun-17 49,500 46,250 48,800 30,957 20,965 1,002,417 15
Jul-17 49,550 46,525 48,950 57,378 38,597 1,859,619 21
Aug-17 51,000 46,925 50,550 52,819 43,276 2,112,420 22
30%
24.6% Sep-17 51,750 48,975 48,975 46,530 35,754 1,803,875 19
20.7% Oct-17 51,175 48,550 49,600 48,150 50,967 2,527,829 22
15%
Nov-17 51,000 48,925 49,300 46,423 55,539 2,749,087 22
Dec-17 55,975 49,075 55,900 45,486 46,148 2,411,815 18
-
Jan-18 58,100 52,500 54,400 65,442 54,090 2,954,508 22

-15% Feb-18 55,550 53,500 53,900 51,750 51,007 2,775,512 19
Mar-18 54,500 48,975 49,525 52,907 48,144 2,462,336 21
-30% Apr-18 52,500 44,550 46,350 62,781 46,408 2,288,264 21
Jun-18 46,900 43,875 46,100 60,978 36,985 1,670,317 13
Jul-18 47,625 42,650 43,250 65,101 35,043 1,581,593 22
Volume (Million Sh.) 505 611 505 603 58 Sep-18 47,225 41,000 47,025 74,966 53,500 2,436,485 19
Days 244 246 238 240 22 Dec-18 46,800 42,675 45,400 71,702 43,273 1,922,612 18
Price (Rupiah) Jan-19 50,000 45,425 50,000 93,054 58,096 2,812,050 22

High 46,000 47,800 55,975 58,100 50,000
Low 32,100 35,300 38,800 38,900 45,425
Close 37,000 38,800 55,900 45,400 50,000
Close* 37,000 38,800 55,900 45,400 50,000
PER (X) 48.24 46.74 60.89 35.57 41.88

PER Industry (X) 17.71 23.77 18.48 24.94 36.52
PBV (X) 58.48 46.67 82.44 38.62 50.34


Cash & Cash Equivalents 859,127 628,159 373,835 404,784 351,667 20,000
Receivables 3,052,260 3,602,272 3,809,854 4,854,798 5,103,406

2,325,989 2,297,502 2,318,130 2,393,540 2,658,073 16,000
Inventories
Current Assets 6,337,170 6,623,114 6,588,109 7,941,635 8,325,029
12,000
Fixed Assets 7,348,025 8,320,917 9,529,476 10,422,133 10,627,387
Other Assets 81,310 292,968 156,383 89,882 74,424
8,000
Total Assets 14,280,670 15,729,945 16,745,695 18,906,413 19,522,970
Growth (%) 10.15% 6.46% 12.90% 3.26% 4,000

Long Term Liabilities 817,056 775,043 1,163,363 1,200,721 810,051 2014 2015 2016 2017 2018
Growth (%) 12.61% 10.45% 14.05% -13.02%
Paid up Capital 76,300 76,300 76,300 76,300 76,300 7,578

Par Value 10 10 10 10 10 5,173
6,032
4,599 4,827 4,704

Total Equity 4,598,782 4,827,360 4,704,258 5,173,388 7,578,133
4,486
Growth (%) 4.97% -2.55% 9.97% 46.48% 2,940
INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 1,394
Total Revenues 34,511,534 36,484,030 40,053,732 41,204,510 41,802,073

Growth (%) 5.72% 9.78% 2.87% 1.45%
-152
2014 2015 2016 2017 2018
Cost of Revenues 17,412,413 17,835,061 19,594,636 19,984,776 20,709,800

Gross Profit 17,099,121 18,648,969 20,459,096 21,219,734 21,092,273
Expenses (Income) 9,336,793 10,709,568 11,751,435 11,723,970 8,813,643
40,054
Growth (%) 2.28% 9.68% 9.05% 29.31% 36,484
41,802
34,512
33,274
Other Income (Expenses) -85,606 -109,911 -135,776 -124,103 -92,866

Tax 1,938,199 1,977,685 2,181,213 2,367,099 3,076,319

Growth (%) 1.97% 9.21% 9.61% 30.05%

7,692
Comprehensive Income 5,738,523 5,864,386 5,957,507 7,107,230 9,386,195 2014 2015 2016 2017 2018
RATIOS Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 PROFIT FOR THE PERIOD (Bill. Rp)
Current Ratio (%) 71.49 65.40 60.56 63.37 74.77
9,109
Dividend (Rp) 336.00 766.00 835.00 915.00 410.00 9,109
EPS (Rp) 752.10 766.95 837.57 918.03 1,193.90

7,005
BV (Rp) 602.72 632.68 616.55 678.03 993.20 7,251
6,391
5,739 5,852
DAR (X) 0.68 0.69 0.72 0.73 0.61
DER(X) 2.11 2.26 2.56 2.65 1.58
5,393
ROA (%) 40.18 37.20 38.16 37.05 46.66 3,534
ROE (%) 124.78 121.22 135.85 135.40 120.21

GPM (%) 49.55 51.12 51.08 51.50 50.46 1,676
OPM (%) 22.49 21.76 21.74 23.05 29.37

NPM (%) 16.63 16.04 15.96 17.00 21.79
-182
2014 2015 2016 2017 2018

Payout Ratio (%) 44.67 99.88 99.69 99.67 34.34
Yield (%) 1.04 2.07 2.15 1.64 0.90
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,542

WIJAYA KARYA (PERSERO) TBK.
Company Profile
WIKA was formed by the nationalization process of a Dutch company named, Naamloze Vennotschap
Technische Handel Maatschappij en Bouwbedijf Vis en Co. or NV Vis en Co. Pursuant To Government
Regulation No. 2 / 1960 and Minister of Public Works and Electric Power (PUTL) Decree No. 5 dated 29
March 1961, to be named Perusahaan Negara Bangunan Widjaja Karja.
The purpose of the Company is to be one of the best integrated Engineering, Procurement and
Construction (EPC) and Investment Company in South East Asia, and the Objective’s are Providing excellent
and integrated products and services in EPC and investment for infrastructure, building, energy, industrial
plant, industry, realty and property, fulfil key stakeholder expectation, implementing business ethics to
promote good corporate citizen and company sustainability, strategic overseas expansion and to
Implementing “Best Practice” Integrated Management System.
The Company directly owned more than 50% shares on subsidiaries as follows: PT Wijaya Karya Beton, PT
Wijaya Karya Realty, PT Wijaya Karya Industri dan Konstruksi, PT Wijaya Karya Rekayasa Konstruksi, PT
Wijaya Karya Bangunan Gedung, PT Wijaya Karya Bitumen, and PT Wijaya Karya Serang Panimbang.
In 2018 the Company received awards: Top 2 Best Growth Strategy for Listed SOE and Excellence in
Interpersonal Relationship, Top 2 Best Business Inovation, op 2 Best Human Capital Development, SWA
Magazine Awards - Category Best CFO 2018, IDC Award - Category Top 50 Big Capitalization Public Listed
Company, Living Legend Companies Award 2019, Indonesia Top Digital PR Award 2019, Indonesia
Champions ASEAN 2018, Indonesia Biodiversity Conservation Trust Fund Award 2018.
The Company is domiciled at Jln. D.I. Panjaitan Kav. 9, Jakarta. The Company started its activities
commercially in 1961. Number of employees of the Company as of September 30th, 2018 was 2,395
employees.
February 2019
Disclaimer:

WIKA Wijaya Karya (Persero) Tbk.

65 | 17.0T | 0.23% | 77.99%
56 | 8.53T | 0.41% | 77.28%

Listing Date : 29-Oct-2007 (IPO Price: 420) 2. Public (<5%) 3,135,101,372 : 34.95%
Underwriter IPO :
PT CIMB-GK Securities Indonesia DIVIDEND ANNOUNCEMENT
PT Bahana Securities (Affiliated) Bonus Cash Recording Payment
F/I
PT Indo Premier Securities Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 2007 5.97 6-Jun-08 9-Jun-08 11-Jun-08 25-Jun-08 F
2009 10.02 27-May-10 31-May-10 2-Jun-10 16-Jun-10 F
1. Imam Santoso 2011 17.28 23-May-12 24-May-12 28-May-12 11-Jun-12 F
2. Achmad Hidayat *) 2012 22.32 29-May-13 30-May-13 3-Jun-13 14-Jun-13 F
3. Eddy Kristianto 2013 27.82 28-Apr-14 29-Apr-14 2-May-14 13-May-14 F
4. Freddy R. Saragih 2014 20.03 29-Apr-15 30-Apr-15 5-May-15 22-May-15 F
5. Imas Aan Ubudiah *) 2015 20.35 9-May-16 10-May-16 12-May-16 27-May-16 F
6. Liliek Mayasari 2016 33.86 24-Mar-17 27-Mar-17 30-Mar-17 18-Mar-17 F
7. Suryo Hapsoro Tri Utomo *) 2017 26.82 2-May-18 3-May-18 7-May-18 25-May-18 F
ISSUED HISTORY
1. Tumiyana No. Type of Listing Shares Date Date
2. Agung Budi Waskito 1. First Issue 1,846,154,000 T: 29-Oct-07 : Formula
3. Antonius N.S. Kosasih 2. Negara RI (Series A) 1 29-Oct-07 29-Oct-07
4. Bambang Pramujo 3. Company Listing 3,999,999,999 29-Oct-07 29-Oct-07
5. Danu Prijambodo 4. ESOP II 213,500 T: 16-Dec-09 : 22-Dec-09
6. Destiawan Soewardjono 5. MSOP I 2,183,500 T: 24-May-10 : 30-Jun-10
7. Novel Arsyad 6. MSOP II 908,000 T: 24-May-10 : 30-Jun-10
7. MSOP I & II 152,081,500 T: 22-Nov-10 : 5-Jan-11
AUDIT COMMITTEE 8. ESOP/MSOP I & II 137,504,500 T: 20-May-11 : 1-Jul-13
1. Suryo Hapsoro Tri Utomo 9. ESOP/MSOP II 9,974,000 T: 22-Nov-11 : 1-Jul-14
2. Achmad Hidayat 10. ESOP/MSOP I 206,000 30-Dec-13 30-Dec-13
3. M. Sjukrul Amien 11. Right Issue 2,820,726,372 T: 22-Nov-16 : 29-Nov-16
4. Nanda A. Wijayanti
5. Nirsihing Asmoro
CORPORATE SECRETARY
Puspita Anggraeni
HEAD OFFICE
Wika Tower 1 & 2
Jl. D.I. Panjaitan Kav. 9-10
Jakarta - 13340
Phone : (021) 8067-9200
Fax : (021) 2289-3830
Homepage : www.wika.co.id
Email : adwijaya@wikamail.id
investor.relations@wika.co.id
puspita@wikamail.co.id


TRADING ACTIVITIES
Wijaya Karya (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
3,600 160 Jan-15 3,795 3,455 3,745 52,642 422,511 1,535,100 21
Feb-15 3,895 3,460 3,660 55,188 417,389 1,520,634 19
3,150 140 Mar-15 3,670 3,320 3,495 50,820 304,513 1,059,529 22
Apr-15 3,620 2,930 2,985 44,846 296,524 1,000,500 21
May-15 3,390 2,835 3,140 48,134 364,505 1,126,932 19
2,700 120
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
2,250 100
Aug-15 2,835 2,370 2,765 53,430 374,592 989,582 20
Sep-15 2,920 2,485 2,590 41,560 208,513 576,663 21
1,800 80
Oct-15 3,150 2,580 2,940 49,738 296,308 879,972 21
Nov-15 2,950 2,690 2,815 38,394 169,330 481,458 21
1,350 60 Dec-15 2,880 2,535 2,640 29,813 235,174 634,206 19
900 40 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
450 20 Mar-16 2,730 2,425 2,610 67,712 465,055 1,199,333 21
Apr-16 2,765 2,520 2,650 37,202 215,531 575,267 21
May-16 2,660 2,200 2,400 31,090 180,766 446,863 20
Jun-16 3,000 2,400 2,960 46,124 456,973 1,281,418 22
Jul-16 3,070 2,830 2,980 27,396 213,347 623,073 16
Aug-16 3,390 2,970 3,240 38,491 304,019 976,475 22
Sep-16 3,310 2,490 2,800 54,204 710,717 2,002,057 21
45%
Jan-17 2,590 2,340 2,570 39,608 460,644 1,146,818 21
30% Feb-17 2,590 2,450 2,500 29,940 391,553 982,876 19
24.6% Mar-17 2,550 2,380 2,410 32,518 315,531 778,311 22
15% Apr-17 2,430 2,180 2,370 42,095 339,707 787,387 17
May-17 2,420 2,180 2,290 39,167 336,456 771,209 20
- Jun-17 2,290 2,190 2,210 26,060 209,842 468,245 15
Jul-17 2,280 1,965 2,080 48,826 353,369 739,213 21
-12.6% Aug-17 2,110 1,980 1,985 41,072 313,576 634,128 22
-15%
Sep-17 1,990 1,760 1,790 42,067 278,282 523,254 19
Oct-17 2,070 1,725 1,970 69,212 627,700 1,188,726 22
-30%
Nov-17 2,060 1,800 1,805 39,757 339,280 666,255 22
Dec-17 1,810 1,490 1,550 64,957 565,840 902,034 18
-45% -44.3%
Jan-18 2,190 1,510 2,080 113,182 1,357,633 2,572,044 22

-60% Feb-18 2,110 1,855 1,925 70,911 649,658 1,278,077 19
Mar-18 1,950 1,600 1,680 44,052 299,912 537,242 21
-75% Apr-18 1,785 1,540 1,585 35,455 274,240 471,201 21
Jun-18 1,690 1,310 1,325 18,801 140,560 213,406 13
Jul-18 1,585 1,210 1,550 40,871 316,623 449,258 22
Days 244 246 238 240 22 Dec-18 1,750 1,490 1,655 62,451 548,682 902,503 18
Price (Rupiah) Jan-19 1,975 1,650 1,895 84,496 692,649 1,287,640 22

High 3,895 3,390 2,590 2,190 1,975
Low 2,370 2,200 1,490 1,095 1,650
Close 2,640 2,360 1,550 1,655 1,895
Close* 2,445 2,360 1,550 1,655 1,895
PER (X) 25.97 39.54 11.57 12.94 14.82

PER Industry (X) 13.36 24.89 14.52 27.07 28.17
PBV (X) 2.99 3.71 0.95 0.96 1.10


Receivables 2,639,364 3,836,199 1,961,818 7,155,850 8,010,514

50,000
Inventories 817,307 1,031,278 1,247,710 1,663,036 2,203,073

37,500
Investment 1,941,539 1,897,987 439,202 3,209,519 431,485
Fixed Assets 2,676,043 3,184,400 3,465,843 3,932,109 4,268,611
25,000
Other Assets 71,075 41,183 22,103 125,739 174,518
Total Assets 15,915,162 19,602,406 31,096,539 45,683,774 56,896,030
12,500
Growth (%) 23.17% 58.64% 46.91% 24.54%
-
Growth (%) 29.52% 31.30% 66.97% 33.68%
15,385
14,632
Paid up Capital 614,923 614,923 896,995 896,995 896,995 12,499

12,246
Par Value 100 100 100 100 100

9,108
Total Equity 4,978,758 5,438,101 12,498,715 14,631,825 15,384,920 4,979 5,438

5,969
Growth (%) 9.23% 129.84% 17.07% 5.15%

2,831

Total Revenues 12,463,216 13,620,101 15,668,833 26,176,403 21,003,556
-308
2014 2015 2016 2017 Sep-18

Growth (%) 9.28% 15.04% 67.06%
Cost of Revenues 11,038,647 11,965,441 13,441,729 23,300,169 18,627,779

Gross Profit 1,794,327 1,943,063 2,605,939 2,876,234 2,375,777
Operating Expenses 393,407 429,158 526,936 1,413,843 638,853 26,176
Operating Profit 1,400,919 1,513,905 2,079,004 - 1,736,924

21,004
Growth (%) 8.07% 37.33% -100.00% 20,836
15,669
Other Income (Expenses) -255,029 -415,824 -848,513 - -578,618 13,620
12,463
15,496
Income Before Tax 1,145,890 1,098,082 1,230,490 1,462,391 1,158,306

Tax 395,094 395,077 83,345 106,276 101,145 10,156
Profit for the period 750,796 703,005 1,147,145 1,356,115 1,057,161

Growth (%) -6.37% 63.18% 18.22%
4,816
-524
Period Attributable 615,181 625,044 1,011,828 1,202,069 860,455 2014 2015 2016 2017 Sep-18
Comprehensive Income 750,796 709,311 1,128,869 1,308,466 1,060,269
Comprehensive Attributable 615,181 631,350 993,552 1,158,684 863,563
Dividend (Rp) 20.03 20.35 33.86 26.82 - 1,356
1,147
EPS (Rp) 122.10 114.32 127.89 151.18 117.86 1,057
BV (Rp) 809.66 884.36 1,393.40 1,631.20 1,715.16 1,079
DAR (X) 0.69 0.72 0.60 0.68 0.73 751

703
DER(X) 2.20 2.60 1.49 2.12 2.70
803
ROA (%) 4.72 3.59 3.69 2.97 1.86 526
ROE (%) 15.08 12.93 9.18 9.27 6.87

GPM (%) 14.40 14.27 16.63 10.99 11.31 250
OPM (%) 11.24 11.12 13.27 - 8.27

NPM (%) 6.02 5.16 7.32 5.18 5.03
-27
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 16.40 17.80 26.48 17.74 -
Yield (%) 1.47 1.49 2.48 1.96 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

WASKITA BETON PRECAST TBK.
Company Profile
PT Waskita Beton Precast Tbk. was formally established as a subsidiary of PT Waskita Karya (Persero)
Tbk. on October 7, 2014. The Company was originally Precast Division of PT Waskita Karya (Persero)
Tbk, which commenced commercial operation at the end of 2013. In 2014, after separation, the
company officially operates as PT Waskita Beton Precast Tbk. The Company focuses on precast and
ready mixed concrete production, as it became the largest current producer in Indonesia. The company
listed on the Indonesian Stock Exchange in 2016.
The Company offers precast concrete for buildings and bridges, retaining walls, drainages, ready-mix
concrete, barriers, and rail pads. Waskita Beton Precast serves customers in Indonesia. The Main
activity of PT Waskita Beton Precast Tbk are the production of precast concrete and ready mix concrete
with the operation of 11 precast factories, 68 ready mix/batching plant and 5 stone crusher.
The Purpose of the Company is to make PT Waskita Beton Precast Tbk. The Leading Precast and Ready
Mix Manufacturing Company in Indonesia, and the Objective’s are making a product that constantly
meets the expectation of the costumer and inovate the product to gain costumers recognition, making
the Human Recources competent and competitive in the Precast and Ready Mix industry, Forming a
mutually beneficial relationship with companies that contribute to PT Waskita Beton Precast Tbk,
growth. Utilizing Information and technology to achieve competitiveness in the Precast and Ready Mix
Industry, Inovation and Product Development.
The Company is located in Teraskita Building, Jl. MT Haryono Kav No. 10 Jakarta. As of September 30th,
2018, The Company had 1,532 Employees.
February 2019
Disclaimer:

WSBP Waskita Beton Precast Tbk.

105 | 10.1T | 0.14% | 85.04%
60 | 7.87T | 0.38% | 78.85%

Established Date : 07-Oct-2014 1. PT Waskita Karya (Persero) Tbk. 15,816,680,599 : 60.00%
Listing Date : 20-Sep-2016 (IPO Price: 490) 2. PT Waskita Beton Precast Tbk. 1,845,281,000 : 7.00%
PT Bahana Securities
F/I
BOARD OF COMMISSIONERS 2016 12.04 21-Mar-17 22-Mar-17 24-Mar-17 5-Apr-17 F
1. Fery Hendriyanto 2017 30.60 12-Apr-18 13-Apr-18 17-Apr-18 9-May-18 F
2. Abdul Ghofarrozin
3. Anis Baridwan ISSUED HISTORY
4. Haris Gunawan Listing Trading
5. Suhendro Bakri No. Type of Listing Shares Date Date
*) Independent Commissioners 1. First Issue 10,544,463,000 20-Sep-16 20-Sep-16
2. Company Listing 15,816,694,534 20-Sep-16 20-Sep-16
BOARD OF DIRECTORS
1. Jarot Subana
2. Agus Wantoro
3. Antonius Y.T Nugroho
4. Munib Lusianto
5. Yudhi Dharmawan
AUDIT COMMITTEE
1. Suhendro Bakri
2. Inggir Elerida
3. Sri Yanto
CORPORATE SECRETARY
Ratna Ningrum
HEAD OFFICE
Teraskita Building, 3-3A Floor
Jl. MT. Haryono Kav 10A, RT 11, RW11, Cipinang Cempedak
Jakarta 13340
Phone : (021) 2289-2999
Fax : (021) 2983-8020
Email : info@waskitaprecast.co.id


TRADING ACTIVITIES
Waskita Beton Precast Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
Price* September 2016 - January 2019 (Mill. Sh) Month High Low Close (X) (Thou. Sh.) (Million Rp)
640 2,400 Sep-16 610 490 515 55,082 2,982,249 1,611,506 9
Oct-16 645 515 620 83,586 4,496,059 2,607,264 21
560 2,100 Nov-16 630 555 575 81,621 3,069,665 1,803,086 22
Dec-16 600 530 555 54,508 1,564,880 885,866 20
480 1,800
Jan-17 600 540 585 45,358 1,623,940 938,878 21
Feb-17 595 550 560 44,408 1,674,408 960,084 19
400 1,500
Mar-17 560 500 500 49,625 1,766,128 945,229 22
Apr-17 530 494 505 43,933 1,501,768 762,547 17
320 1,200
May-17 510 474 505 49,143 1,622,014 798,794 20
Jun-17 505 478 480 34,542 888,270 433,562 15
240 900 Jul-17 494 416 486 73,103 2,246,219 1,044,590 21
Aug-17 488 436 436 40,373 1,476,889 688,698 22
160 600 Sep-17 450 354 360 89,692 3,353,681 1,316,129 19
Oct-17 426 336 412 113,699 4,329,782 1,669,988 22
80 300 Nov-17 424 388 398 58,609 2,020,763 822,197 22
Dec-17 414 358 408 50,191 1,876,760 724,966 18
Jan-18 510 396 474 89,625 2,889,996 1,305,819 22

Sep-16 Mar-17 Sep-17 Mar-18 Sep-18
Feb-18 498 428 480 94,694 3,314,612 1,558,314 19
Mar-18 484 400 414 69,310 2,184,880 957,123 21
Apr-18 460 400 404 71,893 2,090,755 905,571 21
Closing Price*, Jakarta Composite Index (IHSG) and May-18 408 354 402 60,982 1,486,966 572,757 20
Basic Industry and Chemicals Index Jun-18 418 366 366 20,767 426,521 169,259 13
September 2016 - January 2019 Jul-18 428 340 428 50,602 1,550,641 613,698 22
100% Aug-18 434 376 390 46,920 954,742 387,444 21
Sep-18 396 352 358 35,900 637,108 231,926 19
80% 79.7% Oct-18 374 314 318 46,087 1,376,583 476,764 23
Nov-18 358 306 350 53,932 1,294,478 433,938 21
60% Dec-18 398 342 376 63,892 1,848,868 689,587 18
40% Jan-19 412 378 384 74,659 2,203,099 870,706 22
20% 23.2%
-20%
-28.9%
-40%
-60%
Sep 16 Mar 17 Sep 17 Mar 18 Sep 18
SHARES TRADED 2016 2017 2018 Jan-19

Volume (Million Sh.) 12,113 24,381 20,056 2,203
Value (Billion Rp) 6,908 11,106 8,302 871
Frequency (Thou. X) 275 693 705 75
Days 72 238 240 22
Price (Rupiah)
High 645 600 510 412
Low 490 336 306 378
Close 555 408 376 384
Close* 555 408 376 384
PER (X) 27.99 10.75 8.40 8.58

PER Industry (X) 20.86 13.10 13.74 15.89
PBV (X) 2.04 1.47 1.33 1.36


Cash & Cash Equivalents 4,205,820 1,028,346 384,837 17,500
Receivables 3,051,626 7,489,221 3,779,553

231,947 858,693 2,931,591 14,000
Inventories
Current Assets 8,132,621 11,574,945 12,716,867
10,500
Fixed Assets 1,932,852 3,148,701 3,469,984
Other Assets 38,303 41,964 135,061
7,000
Total Assets 13,734,267 14,919,549 16,378,340
Growth (%) 8.63% 9.78% 3,500
Current Liabilities 4,766,317 7,593,431 8,917,619 -

Long Term Liabilities 1,562,449 9,461 9,461 2016 2017 Sep-18
Total Liabilities 6,328,766 7,602,893 8,927,080
Growth (%) 20.13% 17.42%
Authorized Capital 6,326,678 6,326,678 6,326,678 7,451
7,406 7,317
Paid up Capital 26,361,158 2,636,116 2,636,116 7,451
Paid up Capital (Shares) 263,612 26,361 26,361

Par Value 100 100 100
5,931
Retained Earnings 730,206 1,414,387 1,548,992

Total Equity 7,405,501 7,316,656 7,451,261
4,411
Growth (%) -1.20% 1.84% 2,891
Total Revenues 4,717,150 7,104,158 5,438,690

Growth (%) 50.60%
-149
2016 2017 Sep-18
Cost of Revenues 3,667,088 5,155,967 3,878,280

Gross Profit 1,050,062 1,948,191 1,560,409
Expenses (Income) 54,280 326,395 190,667
Operating Profit 995,783 1,621,796 1,369,743 7,104
Growth (%) 62.87%

7,104
5,439
4,717
5,655
Other Income (Expenses) -45,154 -462,208 -239,153

Income before Tax 967,345 1,156,234 1,130,590 4,206
Tax 332,525 155,904 245,738

Profit for the period 634,820 1,000,330 884,852 2,756
Growth (%) 57.58%

1,307
Period Attributable 634,820 1,000,330 884,852 -142
Comprehensive Income 635,271 1,004,519 884,852 2016 2017 Sep-18

Comprehensive Attributable 635,271 1,004,519 884,852
Current Ratio (%) 170.63 152.43 142.60
1,000
Dividend (Rp) 12.04 30.60 -
885
1,000
EPS (Rp) 2.41 37.95 33.57

BV (Rp) 28.09 277.55 282.66 796
635
DAR (X) 0.46 0.51 0.55
DER(X) 0.85 1.04 1.20
592
ROA (%) 4.62 6.70 5.40 388
ROE (%) 8.57 13.67 11.88

GPM (%) 22.26 27.42 28.69 184
OPM (%) 21.11 22.83 25.19

NPM (%) 13.46 14.08 16.27
-20
2016 2017 Sep-18

Payout Ratio (%) 499.97 80.65 -
Yield (%) 2.17 7.50 -
*US$ Rate (BI), Rp 13,436 13,548 14,929

WASKITA KARYA (PERSERO) TBK.

Company Profile
The Company was first established as a foreign company under the name "Volker Aaneming
Maatschappij NV" which later became nationalized State Company (PN) Waskita Karja on January 1,
1961, and the Company at the time was based in Jakarta.
Since the company goes public in 2012, the company has started to expand by engaging in other business
lines such as Concrete Precast, Toll Road, Realty and Energy. Until 2017, the company has 4 subsidiaries;
PT Waskita Beton Precast, a Subsidiary in precast concrete sector; PT Waskita Investment Toll Road, a
Subsidiary in toll road sector; PT Waskita Karya Realty, a Subsidiary in Property/realty sector; and PT
Waskita Karya Energy, which will become a holding Company for PT Waskita Sangir Energi that engages
in Electricity Power Plant Sector.
Currently the Company had a couple of on going projects, The first one is LRT Palembang with a contract
value of Rp10,9 Billion, The completion of construction of LRT Palembang is faster than target, The
construction of Light Rail Transit (LRT) of Palembang is expected to be completed in February 2018. The
LRT Connects Sultan Mahmud Badaruddin II International Airport with Jakabaring Sports Complex. The
Second one is Brooklyn SOHO Alam Sutera, The Apartement Blok that is located in Alam Sutera tangerang
is expected to be the new icon of Alam Sutera Boulevard, with a Contract Value of Rp517 Million, the
Project will end on 2021.
With the motto of “Onward through High Quality Performance”, the company is committed to move
forward and develop as the leading Indonesia company in construction industry, engineering,
infrastructure investment and realty. Given the advantages, experiences, and resources, The Company is
ready to welcome a brighter future.
The head office of the company is located in Waskita Building, MT. Haryono Kav. No. 10 Jakarta with The
total number of employees at September 30th, 2018 was 2,437.
February 2019
Disclaimer:

WSKT Waskita Karya (Persero) Tbk.

47 | 26.8T | 0.36% | 72.71%
23 | 23.8T | 1.15% | 54.85%

Established Date : 01-Jan-1961 1. Republic of Indonesia 8,963,697,887 : 66.04%
Listing Date : 19-Dec-2012 (IPO Price: 380) 2. Public (<5%) 4,610,253,113 : 33.96%
Underwriter IPO :
PT Bahana Securities (affiliated) DIVIDEND ANNOUNCEMENT
PT Danareksa Sekuritas (affiliated) Bonus Cash Recording Payment
F/I
PT Mandiri Sekuritas (affiliated) Year Shares Dividend Cum Date Ex Date Date Date
Securities Administration Bureau : 2012 2.11 10-May-13 13-May-13 15-May-13 29-May-13 F
PT Datindo Entrycom 2013 11.46 28-Apr-14 29-Apr-14 2-May-14 19-May-14 F
2014 10.31 4-May-15 5-May-15 7-May-15 28-May-15 F
BOARD OF COMMISSIONERS 2015 15.44 5-Apr-16 6-Apr-16 8-Apr-16 29-Apr-16 F
1. Badrodin Haiti 2016 37.87 24-Mar-17 27-Mar-17 30-Mar-17 20-Mar-17 F
2. Arif Baharudin 2017 57.19 13-Apr-18 16-Apr-18 18-Apr-18 9-May-18 F
3. Danis Hidayat Sumadilaga
4. M. Aqil Irham *) ISSUED HISTORY
5. Muradi *) Listing Trading
6. R. Agus Sartono No. Type of Listing Shares Date Date
7. Viktor S. Sirait *) 1. First Issue 3,082,315,000 19-Dec-12 19-Dec-12
*) Independent Commissioners 2. Company Listing 6,549,921,000 19-Dec-12 19-Dec-12
3. MESOP I 98,027,925 T: 23-May-14 : 22-Jun-17
BOARD OF DIRECTORS 4. MESOP II 190,188,875 T: 20-May-15 : 14-Dec-18
1. I Gusti Ngurah Putra 5. Right Issue 3,653,498,200 8-Jul-15 8-Jul-15
2. Bambang Rianto
3. Didit Oemar Prihadi
4. Fery Hendriyanto
5. Hadjar Seti Adji
6. Haris Gunawan
7. Wahyu Utama Putra
AUDIT COMMITTEE
1. Viktor S. Sirait
2. Hengki Z P Tampubolon
3. R Agus Sartono
4. Tjahjo Winarto
CORPORATE SECRETARY
Shastia Hadiarti
HEAD OFFICE
Waskita Building
Jl. MT Haryono Kav. No. 10 Cawang
Jakarta 13340
Phone : (021) 850-8510; 850-8520
Fax : (021) 850-8506
Homepage : www.waskita.co.id
Email : waskita@waskita.co.id


TRADING ACTIVITIES
Waskita Karya (Persero) Tbk. Closing Price Freq. Volume Value
Day
Closing Volume
3,200 480 Jan-15 1,740 1,355 1,715 70,104 1,483,277 2,224,845 21
Feb-15 1,890 1,680 1,815 66,468 1,082,352 1,936,847 19
2,800 420 Mar-15 1,825 1,630 1,780 59,602 922,085 1,598,474 22
Apr-15 1,815 1,550 1,720 32,693 492,663 852,730 18
May-15 1,815 1,505 1,700 28,488 323,352 555,369 19
2,400 360
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
2,000 300
Aug-15 1,845 1,505 1,605 38,175 524,748 874,353 20
Sep-15 1,675 1,525 1,550 32,563 419,021 676,229 21
1,600 240
Oct-15 1,770 1,565 1,630 52,743 914,328 1,523,625 21
Nov-15 1,760 1,605 1,605 46,419 639,780 1,085,373 21
1,200 180 Dec-15 1,690 1,605 1,670 30,077 407,446 673,388 19
800 120 Jan-16 1,775 1,615 1,735 56,094 850,420 1,459,308 20

Feb-16 2,000 1,725 1,930 63,550 848,534 1,598,813 20
400 60 Mar-16 2,045 1,880 2,005 46,588 561,814 1,103,782 21
Apr-16 2,395 1,995 2,345 68,067 827,418 1,820,681 21
May-16 2,660 2,330 2,510 91,521 1,200,692 3,011,293 20
Jun-16 2,580 2,360 2,550 97,531 1,240,574 3,067,552 22
Jul-16 2,860 2,490 2,770 68,115 871,744 2,372,370 16
Aug-16 2,860 2,670 2,790 74,767 798,702 2,225,348 22
Sep-16 2,800 2,380 2,620 66,683 789,305 2,080,226 21
120%
Jan-17 2,680 2,500 2,560 31,508 318,343 826,513 21
100% Feb-17 2,650 2,430 2,480 33,660 350,423 890,325 19
Mar-17 2,500 2,320 2,370 48,847 446,818 1,071,230 22
80% Apr-17 2,440 2,230 2,390 33,377 274,924 648,930 17
May-17 2,450 2,210 2,380 45,580 356,209 836,541 20
60% Jun-17 2,380 2,210 2,320 27,392 185,512 429,405 15
Jul-17 2,400 2,180 2,390 42,796 366,798 831,192 21
Aug-17 2,390 2,210 2,220 33,961 272,412 625,487 22
40% 38.3%
Sep-17 2,230 1,775 1,775 82,087 717,240 1,372,304 19
24.6% Oct-17 2,250 1,780 2,120 88,294 863,725 1,756,266 22
20%
Nov-17 2,250 2,060 2,110 42,140 369,336 800,700 22
Dec-17 2,270 1,860 2,210 48,580 464,050 998,974 18
-
-12.6% Jan-18 2,870 2,130 2,830 70,710 731,714 1,888,451 22

-20% Feb-18 3,150 2,640 2,910 78,236 780,564 2,262,700 19
Mar-18 3,000 2,430 2,470 68,240 633,621 1,710,234 21
-40% Apr-18 2,660 2,140 2,210 66,493 739,792 1,818,022 21
Jun-18 2,450 1,915 1,925 39,849 371,030 822,085 13
Jul-18 2,170 1,770 2,120 101,320 969,224 1,900,990 22
Volume (Million Sh.) 8,503 9,430 4,986 10,883 1,752 Sep-18 1,915 1,680 1,700 72,052 507,593 888,517 19
Days 241 246 238 240 22 Dec-18 1,890 1,605 1,680 140,927 1,781,330 3,160,012 18
Price (Rupiah) Jan-19 2,140 1,685 1,975 152,682 1,752,325 3,442,342 22

High 1,900 2,860 2,680 3,150 2,140
Low 1,355 1,615 1,775 1,415 1,685
Close 1,670 2,550 2,210 1,680 1,975
Close* 1,670 2,550 2,210 1,680 1,975
PER (X) 21.63 27.78 7.73 4.59 5.40

PER Industry (X) 13.36 24.89 14.52 27.07 28.17
PBV (X) 2.34 2.14 1.32 0.84 0.99


Receivables 2,990,509 5,512,986 8,622,125 14,133,198 21,257,199

110,000
Inventories 604,279 826,384 2,556,732 3,235,501 5,606,638

82,500
Investment 659,691 972,699 2,619,105 3,745,409 4,596,422
Fixed Assets 621,792 1,923,144 3,275,335 4,742,288 5,526,422
55,000
Other Assets 33,023 236,767 98,338 324,593 410,882
Total Assets 12,542,041 30,309,111 61,425,182 97,895,761 129,244,759
27,500
Growth (%) 141.66% 102.66% 59.37% 32.02%
-
Growth (%) 112.57% 116.71% 68.28% 36.05%
27,013
22,755
Paid up Capital 966,634 1,357,249 1,357,328 1,357,371 1,357,390
21,502
16,773
Par Value 100 100 100 100 100
Retained Earnings 954,024 1,933,161 3,334,162 6,681,081 10,083,393
15,992
Total Equity 2,848,830 9,704,207 16,773,219 22,754,825 27,013,040 9,704

10,481
Growth (%) 240.64% 72.84% 35.66% 18.71%

4,970
2,849
Total Revenues 10,286,813 14,152,753 23,788,323 45,212,898 36,232,526
-540
2014 2015 2016 2017 Sep-18

Growth (%) 37.58% 68.08% 90.06%
Cost of Revenues 9,177,917 12,231,515 19,820,484 35,749,365 29,158,709

Gross Profit 1,306,012 1,932,837 3,967,838 9,463,532 7,073,817
Operating Expenses 366,629 193,337 822,057 2,936,931 1,753,439 45,213
Operating Profit - 1,739,500 3,145,782 6,526,601 -

45,213
36,233
Growth (%) 80.84% 107.47% 35,989
Other Income (Expenses) -183,781 -341,496 -990,192 -1,905,955 - 26,766 23,788
Income Before Tax 755,602 1,398,004 2,155,589 4,620,646 5,320,378

254,389 350,413 342,520 419,074 826,160 14,153
Tax
17,543
10,287
Profit for the period 501,213 1,047,591 1,813,069 4,201,572 4,494,218
Growth (%) 109.01% 73.07% 131.74%
8,319
-904
Period Attributable 501,531 1,047,738 1,713,261 3,881,712 3,726,618 2014 2015 2016 2017 Sep-18
Comprehensive Income 497,058 1,483,266 1,809,183 4,176,782 4,521,735
Comprehensive Attributable 497,375 1,483,414 1,709,375 3,856,922 3,754,135
Dividend (Rp) 10.31 15.44 37.87 57.19 - 4,494 4,202
EPS (Rp) 51.85 77.18 133.58 309.54 331.09

BV (Rp) 294.72 714.99 1,235.75 1,676.39 1,990.07 3,577
DAR (X) 0.77 0.68 0.73 0.77 0.79

DER(X) 3.40 2.12 2.66 3.30 3.78
2,661
1,813
ROA (%) 4.00 3.46 2.95 4.29 3.48 1,744
ROE (%) 17.59 10.80 10.81 18.46 16.64 1,048
GPM (%) 12.70 13.66 16.68 20.93 19.52 827 501

OPM (%) - 12.29 13.22 14.44 -
NPM (%) 4.87 7.40 7.62 9.29 12.40
-90
2014 2015 2016 2017 Sep-18

Payout Ratio (%) 19.89 20.00 28.35 18.48 -
Yield (%) 0.61 0.91 2.23 3.36 -
*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

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

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

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

Prof it f or the period
ROE = x 100%
Total Equity
13. Gross Profit Margin (GPM)

Gross Prof it
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
Div idend
16. Payout Ratio = x 100%
EPS
Div idend
17. Yield = x 100%
ClosingPrice
18. [S] Sharia Compliant Stock

19. Period Attribute : Profit for the period attributable to owner’s entity
20. Comprehensive Attribute : Comprehensive Income attributable to owner’s entity

Idx lq45 Feb 2019 PDF

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Idx lq45 Feb 2019 PDF

Uploaded by

Copyright:

Available Formats

IDX LQ45

INDEX MEMBER PROFILES

No. Code Stock Name Page

ADHI KARYA (PERSERO) TBK.

INDONESIA STOCK EXCHANGE

ADHI Adhi Karya (Persero) Tbk.

84 | 4.28T | 0.21% | 85.28%

COMPANY HISTORY SHAREHOLDERS (December 2018)

INDONESIA STOCK EXCHANGE

ADHI Adhi Karya (Persero) Tbk.

850 60 Jan-16 2,580 2,070 2,550 70,823 856,813 2,027,511 20

Price (Rupiah) Jan-19 1,840 1,585 1,630 54,759 309,499 531,887 22

PER (X) 16.43 48.23 13.02 12.62 12.97

INDONESIA STOCK EXCHANGE

ADHI Adhi Karya (Persero) Tbk.

Receivables 3,214,051 3,311,392 1,596,824 1,852,385 3,962,527

Inventories 132,014 162,651 131,016 3,683,145 4,443,391

Par Value 100 100 100 100 100

Total Equity 1,751,543 5,162,132 5,442,780 5,869,917 6,102,998

Growth (%) 194.72% 5.44% 7.85% 3.97%

INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Sep-18

2014 2015 2016 2017 Sep-18

Cost of Revenues 7,655,377 8,414,926 9,948,797 13,098,372 7,943,274

Operating Profit 738,267 611,230 728,591 1,707,672 1,103,987

Growth (%) -17.21% 19.20% 134.38% 12,064 11,064

Income Before Tax 594,553 746,091 612,622 957,282 674,012

Profit for the period 326,657 465,026 315,108 517,060 336,173

ROA (%) 3.12 2.77 1.57 1.82 1.19 201

ROE (%) 18.65 9.01 5.79 8.81 5.51

OPM (%) 8.53 6.51 6.59 11.27 11.70

2014 2015 2016 2017 Sep-18

*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929

INDONESIA STOCK EXCHANGE

ADARO ENERGY TBK.

INDONESIA STOCK EXCHANGE

ADRO Adaro Energy Tbk.

13 | 32.5T | 1.56% | 41.58%

COMPANY HISTORY SHAREHOLDERS (December 2018)

CORPORATE SECRETARY ISSUED HISTORY

INDONESIA STOCK EXCHANGE

ADRO Adaro Energy Tbk.

650 120 Jan-16 540 437 525 49,972 717,704 348,594 20

Jan-18 2,650 1,810 2,450 112,333 1,644,802 3,661,205 22

Price (Rupiah) Jan-19 1,510 1,215 1,390 169,122 1,978,654 2,768,154 22

PER (X) 7.83 14.96 9.09 6.24 7.14

INDONESIA STOCK EXCHANGE

ADRO Adaro Energy Tbk.

Receivables 3,571,196 2,732,288 4,099,162 4,354,964 6,300,366

Current Liabilities 9,632,863 6,269,001 8,660,241 10,476,695 13,878,416 -

Growth (%) 14.10% 9.98% 8.98% 15.94% 24,936

INCOME STATEMENTS Dec-14 Dec-15 Dec-16 Dec-17 Sep-18 11,826

Total Revenues 41,355,222 37,029,662 33,915,675 44,143,895 39,814,165

2014 2015 2016 2017 Sep-18

Cost of Revenues 32,404,572 29,535,382 24,708,307 28,678,826 26,698,232

Other Income (Expenses) -2,091,648 -716,019 -552,193 -302,039 -1,461,265

Tax 1,721,080 1,779,012 2,765,586 5,325,624 4,341,876

Growth (%) -8.60% 119.76% 58.77%

Period Attributable 2,212,327 2,102,757 4,495,968 6,547,708 5,251,664 -883

EPS (Rp) 69.17 65.74 140.56 204.71 164.19

ROA (%) 2.86 2.53 5.22 7.87 4.92 2,279

OPM (%) 14.73 12.36 23.28 29.21 27.77

2014 2015 2016 2017 Sep-18

*US$ Rate (BI), Rp 12,436 13,794 13,436 13,548 14,929