THE COMPANY’S SEPARATE FINANCIAL STATEMENTS

649 Lampiran I Attachment I PT BLUE BIRD TBK ENTITAS INDUK SAJA LAPORAN POSISI KEUANGAN 30 April 2014, 31 Desember 2013, 2012 dan 2011 Disajikan dalam Rupiah, kecuali Dinyatakan Lain PT BLUE BIRD TBK PARENT ENTITY ONLY STATEMENTS OF FINANCIAL POSITION April 30, 2014, December 31, 2013, 2012 and 2011 Expressed in Rupiah, unless Otherwise Stated 31 DesemberDecember 31, 30 April 2014 April 30, 2014 2013 2012 2011 ASET ASSETS ASET LANCAR CURRENT ASSETS Kas dan setara kas 49.759.959.943 50.942.727.115 65.387.931.367 5.667.561.172 Cash and cash equivalents Piutang usaha - Trade receivables - Pihak ketiga - neto 84.652.898.197 83.037.975.130 391.160.570 261.242.665 Third parties - net Pihak berelasi 434.110.693 5.360.077.305 1.758.441.090 1.126.305.582 Related parties Piutang lain-lain - Other receivables - Pihak ketiga 4.834.064.340 16.488.511.522 3.008.609.999 2.149.050.796 Third parties Pihak berelasi 42.005.421.980 41.892.844.737 4.770.595.578 1.403.782.764 Related parties Piutang dividen 181.207.919.990 181.207.919.990 - - Dividends receivable Persediaan - neto 1.249.850.305 1.017.264.845 902.279.343 544.905.298 Inventories - net Uang muka pembayaran 2.741.082.700 1.209.212.971 1.164.684.250 147.221.779 Advance payments Beban dibayar dimuka 1.095.155.700 1.161.438.779 2.175.000.000 - Prepaid expenses TOTAL ASET LANCAR 367.980.463.848 382.317.972.394 79.558.702.197 11.300.070.056 TOTAL CURRENT ASSETS ASET TIDAK LANCAR NON-CURRENT ASSETS Aset tetap - setelah dikurangi akumulasi Fixed assets - net of penyusutan sebesar accumulated depreciation Rp306.444.739.059 pada of Rp306,444,739,059 tanggal 30 April 2014, as of April 30 2014, Rp269.813.576.971 pada of Rp269,813,576,971 as tanggal 31 Desember 2013, of December 31, 2013, Rp213.900.172.195 pada Rp213,900,172,195 as tanggal 31 Desember 2012, of December 31, 2012, Rp145.978.908.893 pada Rp145,978,908,893 as tanggal 31 Desember 2011 722.569.943.078 633.833.263.889 519.150.604.644 475.565.081.772 of December 31,2011 Penyertaan pada entitas anak 679.672.000.000 679.672.000.000 600.172.000.000 - Investment in subsidiaries Uang muka pembelian Advance payments aset tetap 2.837.048.306 36.222.028.000 8.885.900.000 - for fixed assets Piutang pihak-pihak berelasi - - 256.779.887.600 - Due from related parties Aset tidak lancar lainnya 25.256.777.095 19.813.236.443 - - Other non-current asset TOTAL ASET TIDAK TOTAL NON-CURRENT LANCAR 1.430.335.768.479 1.369.540.528.332 1.384.988.392.244 475.565.081.772 ASSETS TOTAL ASET 1.798.316.232.327 1.751.858.500.726 1.464.547.094.441 486.865.151.828 TOTAL ASSETS 650 Lampiran II Attachment II PT BLUE BIRD TBK ENTITAS INDUK SAJA LAPORAN POSISI KEUANGAN lanjutan 30 April 2014, 31 Desember 2013, 2012 dan 2011 Disajikan dalam Rupiah, kecuali Dinyatakan Lain PT BLUE BIRD TBK PARENT ENTITY ONLY STATEMENTS OF FINANCIAL POSITION continued April 30, 2014, December 31, 2013, 2012 and 2011 Expressed in Rupiah, unless Otherwise Stated 31 DesemberDecember 31, 30 April 2014 April 30, 2014 2013 2012 2011 LIABILITAS DAN LIABILITIES AND EKUITAS EQUITY LIABILITAS JANGKA PENDEK CURRENT LIABILITIES Utang usaha - Trade payables - Pihak ketiga 4.686.064.142 2.953.088.928 20.195.253.228 3.286.670.065 Third parties Pihak berelasi 28.025.797.542 29.165.353.454 37.520.943.332 4.451.416.231 Related parties Utang lain-lain - Other payables - Pihak ketiga 267.001.046 67.796.650 57.687.650 22.402.315 Third parties Pihak berelasi 1.275.722.325 14.442.502.467 3.913.687.908 22.275.751.820 Related parties Utang dividen 198.289.843.723 204.303.283.723 - - Dividends payable Utang pajak 22.551.322.033 17.833.089.485 15.279.644.144 6.037.129.380 Taxes payables Liabilitas yang masih harus dibayar 21.223.957.078 17.589.863.680 18.987.700.740 10.900.874.823 Accrued liabilities Tabungan pengemudi 3.420.614.759 2.853.775.723 1.007.560.330 487.059.349 Drivers’ savings Uang muka diterima 3.386.612.032 2.659.365.105 96.177.075 48.211.295 Advances received Bagian utang jangka panjang yang jatuh tempo Current maturities of dalam satu tahun: long-term loans: Utang bank 519.091.681.638 504.218.005.411 494.359.044.159 94.025.787.520 Bank loans Pinjaman jangka panjang lainnya - - - 12.268.777.300 Other long-term borrowings TOTAL LIABILITAS JANGKA TOTAL CURRENT PENDEK 802.218.616.318 796.086.124.626 591.417.698.566 153.804.080.098 LIABILITIES LIABILITAS JANGKA NON-CURRENT PANJANG LIABILITIES Liabilitas pajak tangguhan - neto 61.871.050.587 56.736.829.784 42.956.961.769 24.863.672.798 Deferred tax liabilities - net Utang jangka panjang setelah dikurangi bagian yang jatuh Long-term loans - tempo dalam satu tahun: net of current maturities: Utang bank 197.269.308.708 183.918.305.972 140.446.454.978 180.532.352.270 Bank loans Pinjaman jangka panjang lainnya 280.830.199.009 296.829.636.195 269.331.305.850 - Other long-term borrowings Uang jaminan pengemudi 4.085.934.405 3.581.965.620 1.774.441.068 467.238.000 Drivers’ security deposits Liabilitas imbalan kerja 8.833.494.295 8.430.120.616 7.896.759.263 5.397.075.373 Employee benefits liability TOTAL LIABILITAS JANGKA TOTAL NON-CURRENT PANJANG 552.889.987.004 549.496.858.187 462.405.922.928 211.260.338.441 LIABILITIES TOTAL LIABILITAS 1.355.108.603.322 1.345.582.982.813 1.053.823.621.494 365.064.418.539 TOTAL LIABILITIES EKUITAS EQUITY Modal saham - Share capital - Rp100 per saham pada Rp100 per share as of Tanggal 30 April 2014 dan April 30, 2014 and 31 Desember 2013 December 31, 2013 Rp1.000 per saham pada tanggal Rp1,000 per share as of 31 Desember 2012 dan 2011 December 31, 2012 and 2011 Modal dasar - 800.000 saham Authorized - 800,000 shares Modal ditempatkan dan disetor Issued and fully paid - penuh - 2.125.600.000 saham 2,125,600,000 shares as of pada tanggal 30 April 2014 April 30, 2014 and dan 31 Desember 2013 December 31, 2013, 2013, 212.560 saham pada 212,560 shares as of tanggal 31 Desember 2012, dan December 31,2012 and 12.500 saham pada tanggal 12,500 shares as of 31 Desember 2011 212.560.000.000 212.560.000.000 212.560.000.000 12.500.000.000 December 31, 2011 Saldo laba - belum ditentukan Retained earnings - penggunaannya 230.647.629.005 193.715.517.913 198.163.472.947 109.300.733.289 unappropriated TOTAL EKUITAS 443.207.629.005 406.275.517.913 410.723.472.947 121.800.733.289 TOTAL EQUITY TOTAL LIABILITAS DAN TOTAL LIABILITIES AND EKUITAS 1.798.316.232.327 1.751.858.500.726 1.464.547.094.441 486.865.151.828 EQUITY 651 Lampiran III Attachment III PT BLUE BIRD TBK ENTITAS INDUK SAJA LAPORAN LABA RUGI KOMPREHENSIF Periode Empat Bulan yang Berakhir pada Tanggal 30 April 2014 dan Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2013, 2012 dan 2011 Dengan Angka Perbandingan Periode Empat Bulan yang Berakhir pada Tanggal 30 April 2013 Tidak Diaudit Disajikan dalam Rupiah, kecuali Dinyatakan Lain PT BLUE BIRD TBK PARENT ENTITY ONLY STATEMENTS OF COMPREHENSIVE INCOME Four-Month Period Ended April 30, 2014 and Years Ended December 31, 2013, 2012 and 2011 With Comparative Figures for the Four-Month Period Ended April 30, 2013 Unaudited Expressed in Rupiah, unless Otherwise Stated 30 AprilApril 30, 31 DesemberDecember 31, 2014 2013 2013 2012 2011 PENDAPATAN NETO 275.596.595.076 210.877.083.559 732.643.360.835 615.371.218.873 428.600.137.784 NET REVENUES BEBAN LANGSUNG 189.465.440.459 137.226.474.525 495.586.412.018 388.151.256.672 276.360.476.914 DIRECT COSTS LABA BRUTO 86.131.154.617 73.650.609.034 237.056.948.817 227.219.962.201 152.239.660.870 GROSSPROFIT BEBAN USAHA 36.874.778.160 19.777.594.917 80.341.843.748 86.607.656.922 55.393.506.065 OPERATING EXPENSES LABA USAHA 49.256.376.457 53.873.014.117 156.715.105.069 140.612.305.279 96.846.154.805 OPERATING INCOME PENDAPATAN BEBAN OTHER INCOME LAIN-LAIN EXPENSES Foreign exchange gain Laba rugi selisih kurs 17.214.787.600 70.595.341 35.596.116.783 818.676.624 121.328.857 loss Denda dan klaim 1.546.169.291 1.456.597.103 4.380.706.841 4.214.155.502 3.091.978.872 Penalties and claims Pendapatan bunga 334.488.794 449.147.443 2.036.304.035 828.944.814 119.941.805 Interest income Gain on disposals of Laba penjualan aset tetap - - 11.541.355.333 1.666.143.932 4.063.121.323 fixed assets Beban bunga 23.356.290.556 14.483.153.505 54.466.259.929 27.162.706.092 24.029.910.979 Interest expense Pendapatan lain-lain 5.019.614.394 1.433.463.568 186.585.972.648 - 397.919.463 Other income Beban lain-lain 21.746.085 30.389.621 14.130.993 16.327.432 33.193.262 Other expenses PENDAPATAN OTHER INCOME BEBAN LAIN-LAIN - NETO 737.023.438 11.244.930.353 114.467.831.152 21.288.465.900 16.511.471.635 EXPENSES - NET LABA SEBELUM BEBAN INCOME BEFORE PAJAK PENGHASILAN 49.993.399.895 42.628.083.764 271.182.936.221 119.323.839.379 80.334.683.170 INCOME TAX EXPENSE BEBAN PAJAK PENGHASILAN INCOME TAX EXPENSE Kini 7.927.068.000 4.710.425.250 9.983.103.250 12.367.810.750 5.598.577.250 Current Tangguhan 5.134.220.803 5.924.230.317 13.779.868.015 18.093.288.971 15.181.653.614 Deferred Total Beban Pajak Penghasilan 13.061.288.803 10.634.655.567 23.762.971.265 30.461.099.721 20.780.230.864 Total Income Tax Expense TOTAL TOTAL LABA KOMPREHENSIF 36.932.111.092 31.993.428.197 247.419.964.956 88.862.739.658 59.554.452.306 COMPREHENSIVE INCOME 652 Lampiran IV Attachment IV PT BLUE BIRD TBK ENTITAS INDUK SAJA LAPORAN PERUBAHAN EKUITAS Periode Empat Bulan yang Berakhir pada Tanggal 30 April 2014 dan Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2013, 2012 dan 2011 Dengan Angka Perbandingan Periode Empat Bulan yang Berakhir pada Tanggal 30 April 2013 Tidak Diaudit Disajikan dalam Rupiah, kecuali Dinyatakan Lain PT BLUE BIRD TBK PARENT ENTITY ONLY STATEMENTS OF CHANGES IN EQUITY Four-Month Period Ended April 30, 2014 and Years Ended December 31, 2013, 2012 and 2011 With Comparative Figures for the Four-Month Period Ended April 30, 2013 Unaudited Expressed in Rupiah, unless Otherwise Stated Saldo laba - belum ditentukan pengunaannya Modal saham Retained earnings Total ekuitas Capital share - unappropriated Total equity Saldo pada tanggal 1 Januari 2011 12.500.000.000 49.746.280.983 62.246.280.983 Balance as of January 1, 2011 Total laba komprehensif Total comprehensive income tahun berjalan - 59.554.452.306 59.554.452.306 for the year Saldo pada tanggal 31 Desember 2011 12.500.000.000 109.300.733.289 121.800.733.289 Balance as of December 31, 2011 Total laba komprehensif Total comprehensive income tahun berjalan - 88.862.739.658 88.862.739.658 for the year Peningkatan modal saham 200.060.000.000 - 200.060.000.000 Increase in share capital Saldo pada tanggal 31 Desember 2012 212.560.000.000 198.163.472.947 410.723.472.947 Balance as of December 31, 2012 Total laba komprehensif Total comprehensive income periode berjalan - 31.993.428.197 31.993.428.197 for the period Saldo pada tanggal Balance as of 30 April 2013 Tidak Diaudit 212.560.000.000 230.156.901.144 442.716.901.144 April 30, 2013 Unaudited Saldo pada tanggal 1 Januari 2013 212.560.000.000 198.163.472.947 410.723.472.947 Balance as of January 1, 2013 Pembagian dividen - 251.867.919.990 251.867.919.990 Dividend distribution Total laba komprehensif Total comprehensive income tahun berjalan - 247.419.964.956 247.419.964.956 for the year Saldo pada tanggal 31 Desember 2013 212.560.000.000 193.715.517.913 406.275.517.913 Balance as of December 31, 2013 Total laba komprehensif Total comprehensive income periode berjalan - 36.932.111.092 36.932.111.092 for the period Saldo pada tanggal 30 April 2014 212.560.000.000 230.647.629.005 443.207.629.005 Balance as of April 30, 2014 653 Lampiran V Attachment V PT BLUE BIRD TBK ENTITAS INDUK SAJA LAPORAN PERUBAHAN ARUS KAS Periode Empat Bulan yang Berakhir pada Tanggal 30 April 2014 dan Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2013, 2012 dan 2011 Dengan Angka Perbandingan Periode Empat Bulan yang Berakhir pada Tanggal 30 April 2013 Tidak Diaudit Disajikan dalam Rupiah, kecuali Dinyatakan Lain PT BLUE BIRD TBK PARENT ENTITY ONLY STATEMENTS OF CASH FLOWS Four-Month Period Ended April 30, 2014 and Years Ended December 31, 2013, 2012 and 2011 With Comparative Figures for the Four-Month Period Ended April 30, 2013 Unaudited Expressed in Rupiah, unless Otherwise Stated 30 AprilApril 30, 31 DesemberDecember 31, 2014 2013 2013 2012 2011 ARUS KAS DARI CASH FLOWS FROM AKTIVITAS OPERASI OPERATING ACTIVITIES Penerimaan kas dari pelanggan 285.685.378.208 143.141.129.014 622.584.922.300 616.144.914.725 428.246.772.476 Cash receipts from customers Penerimaan kas dari pengemudi 503.968.785 678.279.792 1.807.524.552 1.827.704.049 367.831.408 Cash receipts from drivers Pembayaran kas kepada Cash payments to suppliers pemasok dan lainnya 193.642.863.981 67.219.384.495 506.867.670.948 323.885.454.780 253.218.335.690 and others Cash payments to Pembayaran kas kepada karyawan 14.209.648.374 8.442.576.641 32.830.982.920 55.382.971.861 30.225.515.054 employees Cash payments for income Pembayaran pajak penghasilan 4.132.714.332 9.878.408.747 18.249.247.161 4.582.576.366 4.667.170.609 taxes Cash payment for interest Pembayaran beban bunga 18.021.077.858 14.380.893.532 43.179.264.254 27.464.172.288 23.568.447.665 expense Kas Neto Diperoleh dari Net Cash Provided by Aktivitas Operasi 56.183.042.448 43.898.145.391 23.265.281.569 206.657.443.479 116.935.134.866 Operating Activities ARUS KAS DARI CASH FLOWS FROM AKTIVITAS INVESTASI INVESTING ACTIVITIES Proceeds from disposal of Hasil penjualan aset tetap 12.624.000.000 - 12.041.500.000 30.435.504.398 4.063.121.323 fixed assets Perolehan aset tetap 91.950.488.583 53.790.396.772 262.530.962.535 136.985.987.029 205.363.598.137 Acquisitions of fixed assets Penurunan piutang pihak- Decrease in due from pihak berelasi - - 274.444.164.468 - - related parties Penambahan investasi pada Additional investment in entitas anak - - 79.500.000.000 600.172.000.000 - subsidiary’s shares of stock Kas Neto Digunakan untuk Net Cash Used in Aktivitas Investasi 79.326.488.583 53.790.396.772 55.545.298.067 706.722.482.631 201.300.476.814 Investing Activities ARUS KAS DARI AKTIVITAS CASH FLOWS FROM PENDANAAN FINANCING ACTIVITIES Penerimaan dari utang Proceeds from long-term jangka panjang 62.020.952.000 23.575.768.000 150.571.965.600 477.469.966.400 166.815.680.000 loans Pembayaran utang jangka panjang 33.796.273.037 32.523.124.824 97.241.153.354 117.744.557.053 84.433.532.381 Payment of long-term loans Pembayaran kas dividen 6.264.000.000 - 35.496.000.000 - - Payment of cash dividends Penerimaan dari tambahan modal disetor - - - 200.060.000.000 - Additional shares Kas Neto Diperoleh dari Net Cash Provided by Digunakan untuk Used in Aktivitas Pendanaan 21.960.678.963 8.947.356.824 17.834.812.246 559.785.409.347 82.382.147.619 Financing Activities NET INCREASE KENAIKAN PENURUNAN DECREASE IN DARI KAS DAN CASH AND CASH SETARA KAS - NETO 1.182.767.172 18.839.608.205 14.445.204.252 59.720.370.195 1.983.194.329 EQUIVALENTS CASH AND CASH KAS DAN SETARA EQUIVALENTS AT KAS PADA BEGINNING OF AWAL PERIODETAHUN 50.942.727.115 65.387.931.367 65.387.931.367 5.667.561.172 7.650.755.501 THE PERIODYEAR KAS DAN SETARA CASH AND CASH KAS PADA AKHIR EQUIVALENTS AT END PERIODETAHUN 49.759.959.943 46.548.323.162 50.942.727.115 65.387.931.367 5.667.561.172 OF THE PERIODYEAR 654 Halaman ini sengaja dikosongkan 655 Halaman ini sengaja dikosongkan

XVIII. LAPORAN PENDAPAT KEWAJARAN

656

RINGKASAN PENDAPAT KEWAJARAN ATAS RENCANA TRANSAKSI DISUSUN UNTUK PT BLUE BIRD Rasuna Office Park WO 01-02 Rasuna Epicentrum Jl. H.R. Rasuna Said - Kuningan Jakarta Selatan 12960 T 021 8370-8026 3800-834 9390-3953 7168-5051 7970913 799-4521 F 021 351-9544 9390-3952 797-3350 E srrsrr.co.id Kantor Perwakilan: Bandung, Surabaya SUWENDHO RINALDY REKAN KANTOR JASA PENILAI PUBLIK Nomor Izin Usaha KJPP: 2.09.0059 Penilai Properti dan Bisnis Ringkasan Pendapat Kewajaran atas Rencana Transaksi pool-pool Pool Pool Pool Pool Pool Pool Pool Pool Pool Pool