RESTRICTED CASH IN BANKS TRADE RECEIVABLES

These Consolidated Financial Statements are Originally Issued in Indonesian Language Ekshibit E37 Exhibit E37 PT TOWER BERSAMA INFRASTRUCTURE Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 DESEMBER 2012, 2011 DAN 2010 Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2012, 2011 AND 2010 Expressed in million Rupiah, unless otherwise stated 5. PIUTANG USAHA Lanjutan

5. TRADE RECEIVABLES Continued

Umur piutang usaha sejak tanggal faktur adalah sebagai berikut: Aging of trade receivables from the date of invoice is as follows: 2 0 1 2 2 0 1 1 2 0 1 0 Belum jatuh tempo 82.989 80.273 68.021 Current Lewat jatuh tempo Overdue 1 – 30 hari 26.889 41.823 28.583 1 – 30 days 31 – 60 hari 19.453 18.065 7.519 31 – 60 days 61 – 90 hari 7.938 2.519 5.288 61 – 90 days Lebih dari 90 hari 29.977 6.523 21.322 Over 90 days Sub-jumlah 167.246 149.203 130.733 Sub-total Dikurangi: Pencadangan kerugian Less: Allowance for penurunan nilai 13.190 - - impairment Jumlah 154.056 149.203 130.733 T o t a l Piutang usaha telah dijadikan jaminan atas fasilitas pinjaman yang diperoleh Perusahaan dan entitas anak Catatan 25. Trade receivables are pledged as collateral for loan facilities obtained by the Company and subsidiaries Note 25. Berdasarkan penelaahan atas saldo piutang usaha secara individu pada akhir tahun, manajemen berpendapat bahwa penyisihan kerugian penurunan nilai pada 31 Desember 2012 cukup untuk menutup kemungkinan kerugian atas tidak tertagihnya piutang. Based on the review of the status of the individual receivable accounts at the end of the year, the management believes that the allowance for impairment losses as of 31 December 2012 is adequate to cover any possible losses from uncollectible receivables. 6. PIUTANG LAIN-LAIN 6. OTHER RECEIVABLES 2 0 1 2 2 0 1 1 2 0 1 0 Pihak ketiga Third parties Karyawan 3.323 3.619 1.347 Employees Operator selular – tagihan listrik 712 1.337 9.532 Customers – electricity bills Klaim asuransi 24 84 241 Insurance claims Lainnya 8.500 4.957 2.291 Others Jumlah 12.559 9.997 13.411 T o t a l 7. UANG MUKA PENYERTAAN SAHAM 7. ADVANCE FOR INVESTMENT IN SHARES Pada 31 Desember 2011, akun ini merupakan uang muka untuk penambahan penyertaan saham pada PT Triaka Bersama, entitas anak. Pada bulan Januari 2012, proses penambahan kepemilikan saham tersebut telah selesai dilaksanakan Catatan 42b. On 31 December 2011, this account represents advance for additional investment in the shares of PT Triaka Bersama, a subsidiary. This increasing of the shareholdings process was fully completed in January 2012 Note 42b. 8. UANG MUKA PEMBELIAN KEMBALI SAHAM 8. ADVANCE OF SHARES REPURCHASE Berdasarkan Akta No. 4 tanggal 7 Nopember 2012 yang dibuat dihadapan Jose Dima Satria, SH, Mkn, Notaris di Jakarta, para pemegang saham PT Solu Sindo Kreasi Pratama SKP, entitas anak PT Metric Solusi Integrasi MSI, lihat Catatan 1c, telah menyetujui SKP untuk membeli kembali 135.481 saham milik pemegang saham non-pengendali. Based on the Deed No. 4 dated 7 November 2012 that was made in the presence of Jose Dima Satria, SH, Mkn, a Notary in Jakarta, the shareholders of PT Solu Sindo Kreasi Pratama SKP, a subsidiary of PT Metric Solusi Integrasi MSI, see Note 1c, have provided the approval for SKP to repurchase 135,481 shares of non-controlling shareholders. 130 2012 Annual Report PT Tower Bersama Infrastructure Tbk These Consolidated Financial Statements are Originally Issued in Indonesian Language Ekshibit E38 Exhibit E38 PT TOWER BERSAMA INFRASTRUCTURE Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 DESEMBER 2012, 2011 DAN 2010 Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2012, 2011 AND 2010 Expressed in million Rupiah, unless otherwise stated 8. UANG MUKA PEMBELIAN KEMBALI SAHAM Lanjutan 8. ADVANCE OF SHARES REPURCHASE Continued Jumlah saham tersebut merepresentasikan 6,77 dari seluruh saham beredar SKP dan nilai pembelian kembali saham tersebut adalah sebesar Rp 292.500. Dengan demikian, SKP menjadi memiliki sahamnya sendiri sebanyak 135.481 saham atau 6,77 dari seluruh saham yang beredar. The number of shares represents 6.77 of total shares outstanding, and value of shares repurchased amounted to Rp 292,500. Accordingly, SKP now has as many as 135,481 shares of its own or 6.77 of the total shares outstanding. Selanjutnya sesuai Akta No. 49 tanggal 21 Desember 2012 yang dibuat dihadapan notaris yang sama, SKP telah melaporkan perubahan susunan pemegang saham kepada Menteri Hukum dan Hak Asasi Manusia terkait pembelian kembali saham. Pelaporan perubahan anggaran dasar tersebut telah diterima oleh Menteri Hukum dan Hak Asasi Manusia pada tanggal 23 Januari 2013 sesuai surat No. AHU-AH.01.10-01514 Catatan 47a. Subsequently, pursuant to the Deed No. 49 dated 21 December 2012 that was made before the same notary, SKP has reported changes in its shareholding structure to the Minister of Law and Human Rights related to the share repurchases. Reporting changes to articles of association has been received by the Minister of Law and Human Rights on 23 January 2013 as confirmed in his letter No. AHU-AH.01.10-01514 Note 47a. 9. INVESTASI 9. INVESTMENTS 2 0 1 2 2 0 1 1 2 0 1 0 Investasi penyertaan saham – tersedia untuk dijual Investment in shares – available- for-sale PT Smartfren Telecom Tbk dahulu PT Mobile-8 Telecom Tbk Nilai perolehan 16.710 16.710 16.710 PT Smartfren Telecom Tbk formerly PT Mobile-8 Telecom Tbk Cost Penurunan nilai wajar 15.268 - - Impairment of fair value Nilai tercatat 1.442 16.710 16.710 Carrying value Deposito berjangka – dimiliki hingga jatuh tempo: Time deposits – held to maturity: PT Bank Permata Tbk - 160 - PT Bank Permata Tbk PT Bank Central Asia Tbk - - 5.520 PT Bank Central Asia Tbk PT Bank CIMB Niaga Tbk - - 3.812 PT Bank CIMB Niaga Tbk Jumlah 1.442 16.870 26.042 T o t a l Pada 31 Desember 2009, PT Solu Sindo Kreasi Pratama, entitas anak, memiliki 331.551.387 saham PT Smartfren Telecom Tbk dahulu PT Mobile-8 Telecom Tbk FREN dengan nilai perolehan per saham sebesar Rp 50,4 nilai penuh. Pada tanggal 16 Pebruari 2012, FREN melakukan peningkatan harga per saham reverse stock dengan rasio 20:1. Dengan demikian, nilai per saham FREN yang semula Rp 50,4 nilai penuh meningkat menjadi Rp 1.000 nilai penuh. Akibat hal tersebut, kepemilikan saham Perusahaan pada FREN berubah menjadi sebanyak 16.577.569 saham. On 31 December 2009, PT Solu Sindo Kreasi Pratama, a subsidiary had 331,551,387 shares of Smartfren Telecom Tbk formerly PT Mobile-8 Telecom Tbk FREN with the cost of acquisition per share of Rp 50.4 full amount. On 16 February 2012, FREN increased the price per share reverse stock with a ratio of 20:1. Accordingly, FREN value per share increased from originally Rp 50.4 full amount to Rp 1,000 full amount. As a result, SKP’s number of shares owned in FREN decreased to 16,577,569 shares. Kerugian penurunan nilai wajar pada 31 Desember 2012 sebesar Rp 15.268 dicatat pada akun pendapatan komprehensif lainnya sebagai bagian dari ekuitas. Manajemen berpendapat bahwa nilai penyertaan saham pada tanggal laporan posisi keuangan konsolidasian telah mencerminkan nilai wajar saham FREN. Decline in fair value loss on 31 December 2012 amounting to Rp 15,268 was recorded into other comprehensive income account as part of the shareholders’ equity. The management believes that the value of such investments on the consolidated statements of financial position has reflected the fair value of FREN shares. 131 Laporan Tahunan 2012 PT Tower Bersama Infrastructure Tbk