Star Invest Corp PT Paiton Energy

178 Adaro Energy Annual Report 2008 www.adaro.com Adaro in Summary From Us to You Running Adaro Management Report Owning Adaro PT ADARO ENERGY Tbk Schedule 546 FORMERLY PT PADANG KARUNIA AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 Expressed in million Rupiah, unless otherwise stated

28. MINORITY INTEREST continued a.

Minority interest in equity of subsidiaries continued 2008 2007 Arindo Holdings Percentage of minority interest - - Minority interest at acquisition 45,842 - Share in net loss of subsidiaries 32,777 - Exchange difference due to financial statement translation 1,075 - Decrease due to acquisition of minority interest by the Group 77,544 - - - NPE Percentage of minority interest - 30.00 Carrying amount - beginning balance 1,500 - Reversal due to disposal of subsidiary 1,500 - Minority interest at acquisition - 1,500 - 1,500 MSW Percentage of minority interest 0.08 0.41 Carrying amount - beginning balance 177 16 Share in net income of subsidiaries 7 9 Increase due to change in equity of subsidiary 18 170 188 177 SMP Percentage of minority interest 0.01 0.01 Carrying amount - beginning balance 2 2 2 2 TB Percentage of minority interest - - Carrying amount - beginning balance - - Share in net loss of subsidiary - 637 Share in net loss of subsidiary recognised by the Group - 637 - - Arindo Global Percentage of minority interest 33.00 - Carrying amount - beginning balance - - Minority interest at acquisition 50 - Share in net income of subsidiaries 775 - Exchange difference due to financial statement translation 110 - 935 - PA Percentage of minority interest - - Carrying amount - beginning balance - 123 Reversal due to disposal of subsidiary - 123 - - Adaro Energy Annual Report 2008 www.adaro.com 179 Contact Us Governing Adaro Financial Report Corporate Social Responsibility PT ADARO ENERGY Tbk Schedule 547 FORMERLY PT PADANG KARUNIA AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 Expressed in million Rupiah, unless otherwise stated

28. MINORITY INTEREST continued a.

Minority interest in equity of subsidiaries continued 2008 2007 PS Percentage of minority interest - - Carrying amount - beginning balance - 407 Share in net loss of subsidiary - 9 Reversal due to disposal of subsidiary - 398 - - PB Percentage of minority interest - - Carrying amount - beginning balance - 123 Reversal due to disposal of subsidiary - 123 - - PM Percentage of minority interest - - Carrying amount - beginning balance - 79 Share in net loss of subsidiary - 2 Reversal due to disposal of subsidiary - 77 - - AK Percentage of minority interest - - Carrying amount - beginning balance - 10 Reversal due to disposal of subsidiary - 10 - - KBS Percentage of minority interest - - Carrying amount - beginning balance - 2 Reversal due to disposal of subsidiary - 2 - - Total 18,379 558,403

b. Minority interest in net lossincome of subsidiaries

2008 2007 Adaro - 111,482 SIS 64,369 450 Biscayne - 51,604 Arindo Global 775 - MSW 7 9 PS - 9 PM - 2 63,601 163,516 180 Adaro Energy Annual Report 2008 www.adaro.com Adaro in Summary From Us to You Running Adaro Management Report Owning Adaro PT ADARO ENERGY Tbk Schedule 548 FORMERLY PT PADANG KARUNIA AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 Expressed in million Rupiah, unless otherwise stated

29. SHARE CAPITAL

Based on the Notarial Deed of Humberg Lie, S.H., S.E., MKn., No. 68 dated 31 January 2008, all shareholders in the Extraordinary General Meeting of Shareholders on 24 January 2008 agreed to issue 221,851 new shares with a par value of Rp 100 full amount per share, or a total nominal value amounting to Rp 22,185 registered on behalf of SSB and PCI with a total nominal value amounting to Rp 11,092.55 each. This deed was approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decree No. AHU-AH.01.10-2652 dated 31 January 2008. The new share issuance was to increase the Company’s ownership in MSW in January 2008 refer to Note 3c. Based on the Notarial Deed of Robert Purba, S.H. No. 110, dated 15 July 2008, the shareholders in the circular shareholders resolution agreed to increase issued and fully paid shares of 11,139,331,000 shares after the IPO. As such, the total of issue d and fully paid shares increased to 31,985,962,000. 2008 Percentage of Number of ownership Shareholders shares Amount Rp PT Saratoga Investama Sedaya 4,775,524,806 14.93 477,552 PT Triputra Investindo Arya 4,268,347,697 13.34 426,834 PT Persada Capital Investama 3,520,995,975 11.01 352,100 GS NY SEG AC 3,180,703,000 9.94 318,070 Garibaldi Thohir President Director 2,496,384,062 7.80 249,639 PT Trinugraha Thohir 2,496,384,062 7.80 249,639 UBS AG Singapore SA Atticus Investments Pte Ltd 1,835,021,500 5.74 183,502 Edwin Soeryadjaya President Commissioner 1,375,877,646 4.30 137,588 Theodore Permadi Rachmat Vice President Commissioner 724,420,430 2.27 72,442 Sandiaga Salahuddin Uno Director 660,838,202 2.07 66,084 Ir. Subianto Commissioner 416,932,620 1.30 41,693 PT Saratoga Sentra Business 110,925,500 0.35 11,093 Chia Ah Hoo Director 16,584,000 0.05 1,658 David Tendian Director 11,150,000 0.03 1,115 Andre J. Mamuaya Director 10,363,000 0.03 1,036 Alastair Bruce Grant Director 8,454,500 0.03 845 Ir. Palgunadi T. Setiawan Independent Commissioner 909,000 0.00 91 Public 6,076,146,000 19.01 607,615 31,985,962,000 100.00 3,198,596 2007 Percentage of Number of ownership Shareholders shares Amount Rp PT Saratoga Investama Sedaya 4,775,524,806 23.15 477,552 PT Triputra Investindo Arya 4,268,347,697 20.70 426,834 PT Persada Capital Investama 3,410,070,475 16.53 341,007 Garibaldi Thohir 2,496,384,062 12.11 249,639 PT Trinugraha Thohir 2,496,384,062 12.11 249,639 Edwin Soeryadjaya President Commissioner 1,375,877,646 6.67 137,588 Theodore Permadi Rachmat Commissioner 724,420,430 3.51 72,442 Sandiaga Salahuddin Uno Director 660,838,202 3.20 66,084 Ir. Subianto Commissioner 416,932,620 2.02 41,693 20,624,780,000 100,00 2,062,478 Adaro Energy Annual Report 2008 www.adaro.com 181 Contact Us Governing Adaro Financial Report Corporate Social Responsibility PT ADARO ENERGY Tbk Schedule 549 FORMERLY PT PADANG KARUNIA AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 Expressed in million Rupiah, unless otherwise stated

30. ADDITIONAL PAID-IN CAPITAL 2008

2007 Additional paid-in capital from IPO 11,139,331 - Share issuance costs 406,668 - Additional paid-in-capital 10,732,663 - 31. DIFFERENCE IN VALUE FROM RESTRUCTURING TRANSACTIONS OF ENTITIES UNDER COMMON CONTROL 2008 2007 Acquisition of SIS 51,370 108,640 Acquisition of ATA 240,960 97,569 Acquisition of MSW 2,253 20,907 Disposal of PA - 16 Disposal of PS - 31 Disposal of PB - 16 Disposal of PM - 1,272 Disposal of TB - 56,367 Disposal of AK - 4,038 Disposal of KBS - 1,009 Disposal of BAT - 5,437 Disposal of ABA - 50,785 191,843 325,119 The difference in value from restructuring transactions of entities under common control represents the difference between the acquisition cost and net book value of net assets acquired and the difference between sales price and book value of net assets disposed of, incurred through restructuring transactions among entities under common control refer to Note 3. The balance of difference in value from restructuring transactions of entities under common control from the disposal of PA, PS, PB, PM, TB, AK, KBS, BAT and ABA was recognised as realised gains or losses in 2008, in relation to the loss of under common control status between the transacting entities.

32. DIFFERENCE FROM EQUITY CHANGES IN SUBSIDIARIES AND ASSOCIATES 2008

2007 ATA Carrying amount - beginning balance 59,831 59,831 59,831 59,831 SIS Carrying amount - beginning balance 1,831 - Changes in equity related to the new shares issuance for minority shareholders 6,019 - Changes in equity related to difference in value from restructuring transactions of entities under common control - 1,831 4,188 1,831 55,643 61,662 Deficit in difference from equity changes in subsidiaries and associates charged to retained earnings 61,662 61,662 Reversal of difference from equity changes in subsidiaries and associates which was previously charged to retained earnings 1,831 - 4,188 -