PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
December 31, 2012 and 2011 and January 1, 2011December 31, 2010 and For the Years then Ended December 31, 2012 and 2011
Figures are Presented in Millions of Rupiah, unless Otherwise Stated
- 110 -
34. Non Controlling Interests in Net Assets and Comprehensive Income Losses of the Subsidiaries
a. Noncontrolling interest in net assets of the subsidiaries
January 1, 2011 December 31,
December 31, December 31,
2012 2011
2010 AJSM
4,830,096 4,499,174
- BS
792,668 518,010
200,315 SU
1,511 1,466
- GAI
3,476 -
- JTUM
50 48
46 AUP
1 1
1 Total
5,627,802 5,018,699
200,362
b. Noncontrolling interest in net income losses of the subsidiaries
December 31, December 31,
2012 2011
AJSM 410,164
271,708 BS
91,177 33,674
GAI 401
- SU
45 34
JTUM 2
1 Total
501,789 305,349
c.
Noncontrolling interest in comprehensive income losses of the subsidiaries
December 31, December 31,
2012 2011
AJSM 409,641
2,501,350 BS
158,058 16,120
GAI 401
- SU
45 34
JTUM 2
2 Total
568,147 2,485,262
35. 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
Nominal Total
Number of Value
Paid up Number of
Value Paid up
Number of Value
Paid up Shares
Shares per Share
Capital Stock Shares
per Share Capital Stock
Shares per Share
Capital Stock in full Rupiah
Rp 000,000 in full Rupiah
Rp 000,000 in full Rupiah
Rp 000,000 Series A
2.28 142,474,368
5,000 712,372
2.29 142,474,368
5,000 712,372
2.29 142,474,368
5,000 712,372
Series B 97.72
6,093,458,908 100
609,346 97.71
6,090,063,689 100
609,006 97.71
6,081,318,298 100
608,132 Total
100.00 6,235,933,276
1,321,718 100.00
6,232,538,057 1,321,378
100.00 6,223,792,666
1,320,504 January 1, 2011December 31, 2010
December 31, 2011 December 31, 2012
PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
December 31, 2012 and 2011 and January 1, 2011December 31, 2010 and For the Years then Ended December 31, 2012 and 2011
Figures are Presented in Millions of Rupiah, unless Otherwise Stated
- 111 - By Ownership of Interest:
January 1, 2011 December 31, 2012
December 31, 2011 December 31, 2010
Name of Stockholder Number of Shares
Number of Shares Number of Shares
JBC International Finance MAU Limited
31.90 1,989,425,928
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
68.10 4,246,507,348
47.54 2,962,821,979
44.13 2,746,590,724
Total 100.00
6,235,933,276 100.00
6,232,538,057 100.00
6,223,792,666
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
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 41 1,600,804
160 Additional issuance of capital stock from the conversion of
Series IV warrants Note 41 41,933,667
4,194 Balance as of January 1, 2011December 31, 2010
6,223,792,666 1,320,504
Additional issuance of capital stock from the conversion of Series IV warrants Note 41
8,745,391 874
Balance as of December 31, 2011 6,232,538,057
1,321,378 Additional issuance of capital stock from the conversion of
Series IV warrants Note 41 3,395,219
340 Balance as of December 31, 2012
6,235,933,276 1,321,718
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. The Group is no
required to meet any capital requirement. The Group manages its capital structure and makes adjustment in light of changes in economic
conditions. The Group monitors their capital using gearing 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 including short-term and long-term 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.
