LOANS FROM BANKS AND FINANCING INSTITUTIONS continued PT Bank Bumi Arta Tbk BBA continued

PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2013 AND DECEMBER 31, 2012, 2011 AND 2010 AND FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012 UNAUDITED AND YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 Expressed in thousands of rupiah, unless otherwise stated 98

30. NET REVENUES

The details of net revenues are as follows: Six-Month Periods Ended June 30, Years Ended December 31, 2012 2013 unaudited 2012 2011 2010 Property development: Related parties Note 34 Houses 10,765,647 2,786,336 4,739,232 - - Landplots 2,668,451 - - - 9,677,685 Apartments 9,461,628 - 2,017,104 - - Offices - - - 15,552,000 - Third parties Houses 103,792,498 427,151,538 843,009,583 939,536,025 596,051,040 Shops 417,620,192 - 338,313,880 236,272,125 201,953,224 Landplots 514,666,062 496,195,719 945,791,117 352,792,059 320,163,800 Apartments 328,608,923 - 368,360,363 3,814,495 26,868,187 Offices - 150,295,510 - 112,079,390 - 1,387,583,401 1,076,429,103 2,502,231,279 1,660,046,094 1,154,713,936 Investment properties Note 13: Related parties Note 34 Mall and retail 13,247,952 5,825,743 14,211,338 - - Office - - 159,645 - - Third parties Mall and retail 368,536,309 327,315,941 679,830,325 526,863,742 435,049,291 Commercial and others 23,430,851 21,768,134 59,222,126 36,213,287 20,865,786 Office 6,801,445 12,321,807 25,750,474 4,258,372 3,148,602 Residential 3,836,378 3,415,254 7,084,928 6,293,632 14,724,602 415,852,935 370,646,879 786,258,836 573,629,033 473,788,281 Others: Third parties Hotel 44,333,955 42,523,771 86,191,653 68,754,547 30,486,404 Healthcare 27,339,810 12,059,412 31,559,174 4,985,007 - Leisure 23,749,643 16,972,743 43,460,326 35,988,499 35,221,998 Others 24,998,186 8,697,304 13,462,004 15,927,533 6,621,798 120,421,594 80,253,230 174,673,157 125,655,586 72,330,200 Net revenues 1,923,857,930 1,527,329,212 3,463,163,272 2,359,330,713 1,700,832,417 Revenues from sales to related parties accounted for 1.88, 0.56, 0.61, 0.66 and 0.57 of net revenues for the six-month periods ended June 30, 2013 and 2012 and years ended December 31, 2012, 2011 and 2010, respectively. There are no revenues exceeding 10 of annual net revenues that were earned from any single customer for the six-month periods ended June 30, 2013 and 2012 and years ended December 31, 2012, 2011 and 2010. PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2013 AND DECEMBER 31, 2012, 2011 AND 2010 AND FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012 UNAUDITED AND YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 Expressed in thousands of rupiah, unless otherwise stated 99

31. COST OF SALES AND DIRECT COSTS

The details of cost of sales and direct costs are as follows: Six-Month Periods Ended June 30, Years Ended December 31, 2012 2013 unaudited 2012 2011 2010 Property development Houses 75,315,990 377,992,937 703,160,684 648,582,745 384,522,586 Shops 187,748,609 47,239,193 143,275,968 92,133,000 81,172,641 Landplots 88,044,694 139,683,919 253,897,139 145,562,081 218,201,605 Apartments 182,193,268 - 296,453,993 2,955,782 22,072,194 Offices - - - 78,933,643 - 533,302,561 564,916,049 1,396,787,784 968,167,251 705,969,026 Investment properties Mall and retail 178,900,439 159,131,460 326,767,729 252,363,182 182,510,149 Commercial and others 22,296,483 13,546,048 44,996,089 12,799,828 9,042,633 Office 9,414,003 3,918,479 396,946 4,995,655 4,737,738 Residential 1,834,047 539,600 3,273,153 3,395,863 3,351,352 212,444,972 177,135,587 375,433,917 273,554,528 199,641,872 Others Hotel 22,379,612 16,025,169 45,188,716 38,853,728 20,253,157 Healthcare 16,515,690 7,759,799 20,066,391 4,240,218 - Leisure 16,089,556 10,807,202 27,574,393 23,468,897 21,914,238 Others 16,743,734 3,345,326 6,125,166 3,900,818 - 71,728,592 37,937,496 98,954,666 70,463,661 42,167,395 Total cost of sales and direct costs 817,476,125 779,989,132 1,871,176,367 1,312,185,440 947,778,293 There are no purchases exceeding 10 of net revenues that were made from any single supplier for the six-month periods ended June 30, 2013 and 2012 and years ended December 31, 2012, 2011 and 2010.