PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
December 31, 2011 and 2010 and For the Years then Ended
- 104 -
35. Non Controlling Interests in Net Assets and Comprehensive Income Losses of the Subsidiaries
a. Noncontrolling Interest in Net Assets of the subsidiaries
2011 2010
Rp 000,000 Rp 000,000
AJSM 4,499,174
- BS
518,010 200,315
SU 1,466
- JTUM
48 46
AUP 1
1 Total
5,018,699 200,362
b. Noncontrolling Interest in comprehensive income losses of the subsidiaries
2011 2010
Rp 000,000 Rp 000,000
AJSM 271,708
- BS
33,674 -
SU 34
- JTUM
1 -
Total 305,349
-
36. Capital Stock
The share ownership in the Company based on the records of STG, share registrar, a subsidiary, is as follows:
By Series of Shares:
Nominal Total
Nominal Total
Number of Value
Paid up Number of
Value Paid up
Shares Shares
per Share Capital Stock
Shares per Share
Capital Stock Rp
Rp 000,000
Rp Rp
000,000 Series A
2.29 142,474,368
5,000 712,372
2.29 142,474,368
5,000 712,372
Series B 97.71
6,090,063,689 100
609,006 97.71
6,081,318,298 100
608,132 Total
100.00 6,232,538,057
1,321,378 100.00
6,223,792,666 1,320,504
December 31, 2010 December 31, 2011
By Ownership of Interest:
December 31, 2011 December 31, 2010
Name of Stockholder Number of Shares
Number of Shares JBC International Finance MAU
Limited 52.46
3,269,507,578 55.85
3,475,886,578 Indra Widjaja
0.00 208,500
0.02 1,315,364
Public below 5 each 47.54
2,962,821,979 44.13
2,746,590,724 Total
100.00 6,232,538,057
100.00 6,223,792,666
PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
December 31, 2011 and 2010 and For the Years then Ended
- 105 - All capital stock issued by the Company Series A and Series B shares are common stock.
The changes in capital stock of the Company are as follows:
Number of Paid-up
Shares Capital Stock
Rp 000,000 Balance as of January 1, 2010
6,180,258,195 1,316,150
Additional issuance of capital stock from the conversion of Series III warrants Note 42
1,600,804 160
Additional issuance of capital stock from the conversion of Series IV warrants Note 42
41,933,667 4,194
Balance as of December 31, 2010 6,223,792,666
1,320,504 Additional issuance of capital stock from the conversion of
Series IV warrants Note 42 8,745,391
874 Balance as of December 31, 2011
6,232,538,057 1,321,378
Capital Management
The primary objective of the Group’ capital management is to ensure that it maintains healthy capital ratios in order to support its business and maximize shareholder value as well as maintain
an optimal capital structure to reduce the cost of capital. The Group’ manage their capital structure and makes adjustment in light of changes in economic
conditions. The Group’ monitor their capital using gaering ratio debt to equity ratio, by dividing net debt to capital. The Group’s policy is to maintain the gearing ratio within the range of gearing
ratios of the other companies with similar industry in Indonesia. Net debt is calculated as total borrowings less cash and cash equivalents. Total capital is calculated as “equity” attributable to
the Company’s stockholders as shown in the consolidated statement of financial position plus net debt.
Ratio of net debt to equity as of December 31, 2011 and 2010 are as follows:
2011 2010
Rp 000,000 Rp 000,000
Total deposits and deposits from other banks 14,578,756
9,604,110 Total loans received
930,904 512,265
Cash and cash equivalents 8,523,794
1,980,945 Total - net
6,985,866 8,135,430
Equity attributable to the owners of the parent entity
9,566,925 5,060,646
The ratio of net loans and debt to equity 73.02
160.76
