11 2q2013 financial report
PT TOWER BERSAMA INFRASTRUCTURE Tbk
AND SUBSIDIARIES
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011
AND 2010 (AUDITED) AND THE PERIOD OF 6 (SIX) MONTHS ENDED
30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED) AND
THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND
INDEPENDENT AUDITORS’ REPORT
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
CONTENTS
Directors’ Statement
Independent Auditors’ Report
Report on Review of Interim Financial Information
Exhibit
Interim Consolidated Statements of Financial Positions
A
Interim Consolidated Statements of Comprehensive Income
B
Interim Consolidated Statements of Changes in Equity
C
Interim Consolidated Statements of Cash Flows
D
Notes to Interim Consolidated Financial Statements
E
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit A
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
30 June
Notes
2013
31 Dec ember
2012
2011
2010
A SSETS
CURRENT A SSETS
Cash and cash equivalents
2d,e,f,3
Appropriated accounts
2d,e,f,4,25
Investments
2e,9
1,201,179
507,253
499,552
1,047,454
335,282
197,561
113,587
52,349
1,210
1,442
16,870
26,042
252,627
154,056
149,203
130,733
Trade receivables - Third parties
(net of the allowance for impairment losses of
Rp 13,190 as of 30 June 2013 and
31 December 2012)
2e,g,y ,5
Other receivables - Third parties
2e,g,6
27,533
12,559
9,997
13,411
Advance for investment in shares
7
-
-
2,900
-
Advance for shares repurchase
8,47a
250,000
Accrued revenue
2e,m,10
461,825
320,321
197,610
143,578
Inventories and supplies
2s,11
311,437
228,771
33,545
47,321
Advance payments and prepaid expenses
2m,12
93,134
85,388
92,949
43,171
Prepaid taxes
2n,21a,47b
503,553
500,378
70,055
38,977
-
-
Non-current assets held for sale
2v,18
Total Current A ssets
292,500
-
1,000
-
-
3,437,780
2,301,229
1,186,268
1,543,036
228,273
107,163
13,006
7,134
NON-CURRENT A SSETS
Deferred tax assets - Net
2n,21d
Property and equipment - net of
accumulated depreciation of Rp 77,412;
Rp 66,404; Rp 52,892; and Rp 33,224
as of 30 June 2013, 31 December
2h,k,
2012, 2011 and 2010, respectively
t,y ,13,35
91,200
87,100
383,713
207,550
11,787,075
10,363,924
4,283,000
2,824,607
2q,39
677,169
677,169
677,169
467,236
15
728,777
618,953
244,127
96,869
Refundable deposits
16
3,864
3,043
2,526
2,487
Deferred expenses
17
Investment properties - fair value
2i,j,t,14,31
Goodwill - fair value
Long-term landlease
-
-
-
1,826
1,978
1,978
1,978
1,978
317,468
152,225
83,173
23,719
4,425
4,699
5,246
Total Non-Current A ssets
13,840,229
12,016,254
5,693,938
3,633,406
TOTA L A SSETS
17,278,009
14,317,483
6,880,206
5,176,442
Estimated claims for tax refund
2n
Derivative receivables
2d,e,33a
Other non-current assets
2t,x,39
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
-
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit A/2
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
30 June
Notes
2013
31 Dec ember
2012
2011
2010
LIA BILITIES A ND EQUITY
SHORT-TERM LIA BILITIES
Trade payables - Third parties
2d,e,19
Other payables - Third parties
2e,20
162,565
252,668
77,204
81,270
23,253
18,005
36,114
14,700
105,560
122,320
68,427
71,856
Taxes payable
2n,y ,21b
Unearned income
2m,22
545,405
209,224
136,388
124,677
Accrued expenses
2e,m,23
970,382
721,825
308,101
105,182
Long-term loans - current portion
Finance leases
Third parties
2e,k,24
2,863
2,440
1,723
2,110
2d,e,25
794,832
855,532
241,789
59,353
2,604,860
2,182,014
869,746
459,148
40,000
41,600
Total Short-Term Liabilities
LONG-TERM LIA BILITIES
Due to related parties
2c ,e,32
-
-
Deferred tax liability - Net
2n,21d
-
416
416
10,064
Provision for post-employment benefits
2l,y ,37
24,385
18,501
10,994
10,439
Long-term joint investments
27
245
267
341
922
Negative goodwill - net of
accumulated amortization of
Rp 2,353 at 31 December 2010
Long-term notes
2q,39
2d,e,26
2,911,362
-
-
-
-
6,472
-
Long-term loans - net of current portion
Finance leases
Third parties
Total Long-Term Liabilities
Total Liabilities
2e,k,24
6,619
7,297
4,677
3,826
2d,e,25
6,751,707
7,863,595
3,248,823
2,325,444
9,694,318
7,890,076
3,305,251
2,398,767
12,299,178
10,072,090
4,174,997
2,857,915
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit A/3
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
30 June
Notes
31 Dec ember
2013
2012
2011
2010
EQUITY
Share capital
As of 30 June 2013 and 31 December 2012,
2011 and 2010, par value of Rp 100 (full
amount) per share. Authorized capital of
14,420,120,000 shares. Issued and fully
paid-in capital: As of 30 June 2013 and
31 December 2012 are 4,796,526,199
shares. As of 31 December 2011
and 2010 are 4,556,699,889 shares,
respectively
28
Additional paid-in capital - Net
2u,o,29
Other comprehensive income
33
(
479,653
479,653
455,670
455,670
1,721,729
1,916,959
1,183,858
1,185,098
19,395) (
101,919)
14,558
-
-
12,505
Difference arising from changes in
Subsidiaries' equity
2p,33
-
2c ,o,30
-
-
Differences arising from restructuring
transactions of entities under
common control
(
2,008) (
2,008) (
2,008)
Retained earnings
Statutory reserves
Unappropriated
30,100
20,100
10,100
100
2,515,531
1,681,807
849,872
492,959
4,727,618
3,994,592
2,512,050
2,144,324
251,213
250,801
193,159
174,203
4,978,831
4,245,393
2,705,209
2,318,527
17,278,009
14,317,483
6,880,206
5,176,442
Total equity attributable to equity
holder of the parent company
Non-c ontrolling interest
Total Equity
TOTA L LIA BILITIES A ND EQUITY
2b,40
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit B
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
30 June (6 months)
Notes
2013
31 Dec ember (1 y ear)
2012
2012
2011
2010
REV ENUE
2m,34
1,271,386
647,222
1,715,421
970,026
671,360
COST OF REV ENUE
2m,35
180,311
95,675
263,837
143,262
98,196
1,091,075
551,547
1,451,584
826,764
573,164
120,103
75,362
171,195
119,278
86,877
970,972
476,185
1,280,389
707,486
486,287
438,017
46,393
258,542
99,889
209,569
5,539
2,770
16,715
16,149
6,159
707
197
464
GROSS PROFIT
OPERA TING EX PENSES
2m,36
INCOME FROM OPERA TIONS
OTHER INCOME (CHA RGES)
Increase of fair value of
investment properties
2i,14,31
Interest income
Gain (loss) on disposal of assets
2h,13
Amortization of other assets - Net
2q,39
-
Impairment of fair value of goodwill
2q,39
-
(
274)
(
-
-
-
150)
-
(
136
(
8,687)
22,724)
-
Allowance for impairment losses of
trade receivables
-
2e,g,5
-
(
13,190)
-
-
Loss on foreign exchange - Net
2d
(
118,776) (
16,163) (
84,103) (
14,321) (
17,515)
Financial expenses - Interest
2e,25,26
(
324,152) (
154,377) (
467,482) (
246,597) (
226,325)
Financial expenses - Others
2e,25,26
(
82,229) (
19,352) (
67,358) (
24,176) (
66,755)
Others - Net
(
9,333)
4,915 (
10,729) (
16,645) (
9,535)
Other Charges - Net
(
90,227) (
135,891) (
367,141) (
194,538) (
126,990)
340,294
913,248
512,948
359,297
880,745
PROFIT BEFORE INCOME TA X
INCOME TA X BENEFITS (EX PENSES)
2n,y ,21c ,d
(
Current
63,064) (
121,526
Deferred
Inc ome Tax Benefits (expenses) - Net
NET PROFIT FOR THE PERIODS / Y EA RS
58,462 (
939,207
31,109) (
2,424
28,685)
311,609
79,990) (
35,195) (
94,157
14,595
14,167 (
20,600) (
927,415
492,348
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
22,091)
2,172
19,919)
339,378
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit B/2
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
30 June (6 months)
Notes
NET PROFIT FOR THE PERIODS / Y EA RS
31 Dec ember (1 y ear)
2013
2012
2012
2011
2010
939,207
311,609
927,415
492,348
339,378
123,996) (
105,819)
2,143
12,584
OTHER COMPREHENSIV E INCOME
Cash flows hedging reserves
87,148 (
33a
Impairment of fair value investment available for sale
33b
(
232)
-
-
-
-
201
-
-
-
-
Difference from translation of
foreign currency
33c
87,117 (
2,143
12,584
821,596
494,491
351,962
282,913
841,935
474,358
326,729
28,696
85,480
17,990
12,649
939,207
311,609
927,415
492,348
339,378
Equity holders of the parent company
926,248
181,890
745,869
476,411
339,234
Non-controlling interest
100,076
5,723
75,727
18,080
12,728
1,026,324
187,613
821,596
494,491
351,962
175.90
62.09
180.80
104.10
84.56
Other c omprehensive inc ome - Net
123,996) (
105,819)
1,026,324
187,613
843,724
95,483
TOTA L COMPREHENSIV E INCOME FOR
THE PERIODS / Y EA RS
Total net profit for the periods / y ears
attributable to :
Equity holders of the parent company
Non-controlling interest
2b,40
To tal
Total c omprehensive inc ome for
the periods / y ears attributable to:
To tal
BA SIC EA RNINGS PER SHA RE
A TTRIBUTA BLE TO COMMON
SHA REHOLDERS OF THE PA RENT
COMPA NY (full amount)
2r,41
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit C
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
Other c omprehensive inc ome
Additional
paid-in
c apital
Share c apital
Balance as of 1 January 2013
479,653
1,914,951 (
Differences arising from transaction
with non-controlling parties (Note 8,29)
-
Adjustment for changes in effective ownership
in subsidiaries' (Note 33)
-
-
General reserves
-
-
Differences arising from restructuring transactions
of entities under common control (Note 30)
-
Cash flow hedging reserves (Note 33a)
-
(
192,836)
(
Differenc es
arising from
c hanges in
subsidiaries'
equity
91,261)
-
-
386)
82,497
-
-
-
Difference from translation of foreign currency
-
-
-
Comprehensive income for the period (6 months)
-
-
-
Balance as of 30 June 2013
479,653
Note 28
1,721,729 (
Note 29
(
-
(
Statutory
reserves
Unappropriated
Total equity
attributable to
equity holders
of the parent
c ompany
Non-c on trolling
interest
1,681,807
3,994,592
250,801
20,100
-
-
-
-
10,000
(
-
-
-
-
-
-
-
(
174)
-
-
230
Note 33
(
-
-
-
-
11,638)
Note 33
30,100
(
10,000)
-
201
Note 33
777)
-
-
7,987)
10,687)
-
-
-
Impairment of fair value of investment available for sale
29
Retained earnings
Impairment of
fair value available for
sale
-
777
-
Differenc e
from
translation
of foregin
c urrenc y
(
192,836) (
4,245,393
99,664) (
292,500)
-
-
-
-
-
-
386)
-
82,497
(
Total
c onsolidated
equity
(
4,651
174) (
201
58) (
-
386)
87,148
232)
201
843,724
843,724
95,483
939,207
2,515,531
4,727,618
251,213
4,978,831
Note 38
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
Note 40
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit C/2
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
Other c omprehensive inc ome
Retained earnings
Differenc es
arising from
Balance as of 1 January 2012
General reserves
Share c apital
Additional
paid-in
c apital - Net
455,670
1,183,858
-
-
Comprehensive income for the period (6 months)
-
-
455,670
Note 28
(
1,183,858 (
Note 29
restruc turing
transac tions of
entities under
c ommon
c ontrol
14,558 (
-
Other comprehensive income
Balance as of 30 June 2012
Differenc es
arising from
c hanges in
subsidiaries'
equity
2,008)
-
Statutory
reserves
10,000
101,023)
-
-
-
-
-
86,465) (
Note 33
2,008)
Note 30
Unappropriated
10,100
20,100
Total equity
attributable to
equity holders
of the parent
c ompany
Non-c on trolling
interest
2,512,050
193,159
849,872
(
10,000)
-
(
Total
c onsolidated
equity
-
2,705,209
-
101,023) (
22,973) (
123,996)
282,913
282,913
28,696
311,609
1,122,785
2,693,940
198,882
2,892,822
Note 38
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
Note 40
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit C/3
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
Other c omprehensive inc ome
Retained earnings
Differenc es
Share c apital
Balance as of 1 January 2012
Additional
paid-in
c apital - Net
455,670
1,183,858
23,983
733,101
Paid in capital (Note 28,29)
Differenc es
arising from
c hanges in
subsidiaries'
equity
Impairment of
fair value available for
sale
-
-
-
-
-
-
-
-
-
-
-
10,000
-
-
-
-
-
(
105,819) (
-
-
-
(
10,687)
-
-
-
-
-
-
-
14,558
General reserves
-
-
Cash flow hedging reserves
-
-
Impairment fair value of investment avaliable for sale
-
-
-
Difference from translation
of foreign currency
-
-
-
Comprehensive income for the year (1 year)
-
-
-
Balance as of 31 December 2012
479,653
Note 28
(
1,916,959 (
Note 29
arising from
restruc turing
transac tions of
entities under
c ommon
c ontrol
Differenc e
from
translation
of foregin
c urrenc y
105,819)
-
(
29
91,261)
Note 33
29 (
Note 33
(
10,687)
10,687) (
Note 33
2,008)
2,008)
Note 30
Statutory
reserves
Unappropriated
10,100
20,100
Total equity
attributable to
equity holders
of the parent
c ompany
849,872
Total
c onsolidated
equity
193,159
2,705,209
2,512,050
(
Non-c on trolling
interest
757,084
10,000)
-
29
841,935
841,935
1,681,807
3,994,592
Note 38
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
-
757,084
-
27,838) (
133,657)
(
10,687)
-
-
29
85,480
927,415
250,801
4,245,393
Note 40
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit C/4
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
Other c omprehensive inc ome
Share c apital
Balance as of 1 January 2011
455,670
Adjustment of negative goodwill
-
Share issuance cost
-
General reserves
-
Cash dividends (Note 39)
Cash flow hedging reserves
Comprehensive income for the year (1 year)
Balance as of 31 December 2011
A dditional
paid-in
c apital - net
Differenc es
arising from
c hanges in
subsidiaries'
equity
1,185,098
12,505 (
Retained earnings
Statutory
reserves
2,008)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
455,670
(
1,240)
1,183,858
Note 29
2,053
14,558 (
Note 33
10,000
-
-
-
-
-
2,008)
Note 30
10,100
Total equity
attributable to
equity holders
of the parent
c ompany
Unappropriated
100
-
Note 28
-
Differenc es
arising from
restruc turing
transac tions of
entities under
c ommon
c ontrol
492,959
2,144,324
6,472
(
(
10,000)
(
Non-c on trolling
interest
113,917) (
-
174,203
6,472
-
1,240)
-
-
Total
c onsolidated
equity
2,318,527
6,472
(
-
1,240)
-
113,917) (
149) (
114,066)
2,053
1,115
3,168
474,358
474,358
17,990
492,348
849,872
2,512,050
193,159
2,705,209
Note 38
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
Note 40
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit C/5
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
Other c omprehensive inc ome
Retained earnings
Differenc es
Share c apital
Balance as of 1 January 2010
A dditional
paid-in
c apital - net
360,503
Share capital payments
-
95,167
1,246,133
2,008)
100
166,230
-
-
61,035)
-
-
-
-
-
-
-
-
-
-
-
-
-
Additional non controlling interest
from acquisition of subsidiary
-
-
Difference arising from changes in
subsidiaries' equity
-
-
Comprehensive income for the year (1 year)
-
-
455,670
(
1,185,098
Note 29
12,505
12,505 (
Note 33
2,008)
Note 30
100
Total equity
attributable to
equity holders
of the parent
c ompany
Unappropriated
-
-
Note 28
-
Statutory
reserves
-
Share issuance cost
Balance as of 31 December 2010
(
arising from
restruc turing
transac tions of
entities under
c ommon
c ontrol
Differenc es
arising from
c hanges in
subsidiaries'
equity
Non-c on trolling
interest
Total
c onsolidated
equity
524,825
17,019
541,844
1,341,300
2,881
1,344,181
(
61,035)
-
-
(
141,128
61,035)
141,128
12,505
526
13,031
326,729
326,729
12,649
339,378
492,959
2,144,324
174,203
2,318,527
Note 38
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
Note 40
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit D
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
30 June (6 months)
2013
31 Dec ember (1 y ear)
2012
2012
2011
2010
CA SH FLOW S FROM OPERA TING A CTIV ITIES
Cash received from customers
1,328,603
627,061
1,648,054
917,314
588,423
5,539
2,770
16,715
16,149
6,159
Interest received from current accounts
and time deposits
(
559) (
961 (
996)
Payments of income tax
(Placement) withdrawal of security deposits
(
56,411) (
-
24,220) (
56,873) (
518)
43,121) (
26,149)
Cash paid to employees
(
74,237) (
42,457) (
73,416) (
64,812) (
42,754)
Cash paid to supplier
(
260,852) (
158,887) (
257,210) (
195,167) (
177,859)
942,642
403,708
1,276,752
631,324
346,824
906
14,592
14,954
-
-
Net c ash flow s provided by operating
ac tivities
CA SH FLOW S FROM INV ESTING A CTIV ITIES
Cash received on sale of
property and equipment
Withdrawal (placement) of time deposits
-
372
9,173
201
(
9,332)
Acquisition of property and equipment
(
15,365) (
8,481) (
32,527) (
36,536) (
39,230)
Purchase and lease of land
(
158,206) (
98,410) (
459,246) (
200,055) (
88,723)
Acquisition and investment in shares
(
250,000)
-
(
304,605) (
208,052) (
151,851)
-
(
385,944)
Payment of value added tax from
tower acquisition
-
-
-
Addition of investment properties
(
806,869) (
481,253) ( 4,404,985) ( 1,049,216) (
526,597)
Net c ash flow s used in investing ac tivities
( 1,229,534) (
573,552) ( 5,572,353) ( 1,484,314) (
815,532)
CA SH FLOW S FROM FINA NCING A CTIV ITIES
Long-term notes issuance
2,903,400
Withdrawals of bank loans
345,555
3,804,600
-
-
5,344,861
-
1,142,224
Capital contribution
-
-
-
Initial public offering costs
-
-
-
(
1,240) (
Payments to related parties loan
-
-
-
(
1,600) (
Dividends payment
-
-
-
(
3,167,567
1,344,186
114,068)
59,715)
2,151)
-
Payments of third parties loans
(
22) (
19,073) (
74) (
580) (
166,415)
Payments of finance lease
(
1,334) (
2,065) (
3,579) (
2,920) (
2,143)
(
498,185) (
232,317) (
674,429) (
265,020) (
325,718)
( 1,630,875) (
136,334) (
279,503) (
390,470) ( 2,497,035)
Payments of interest and cost of borrowings/
long-term notes
Payments of bank loans
Net c ash flow s provided by financ ing
ac tivities
NET INCREA SE (DECREA SE) OF CA SH
1,118,539
3,414,811
4,387,276
831,647
3,244,967
91,675
366,326
(
486,664)
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
1,458,576
989,868
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Ekshibit D/2
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
30 June (6 months)
2013
NET INCREASE (DECREASE) OF CASH (Continued)
2012
31 Dec ember (1 y ear)
2012
831,647
3,244,967
91,675
2011
(
486,664)
2010
989,868
CASH AT BEGINNING OF PERIOD/ Y EAR
Cash and cash equivalents
507,253
499,553
499,552
1,047,454
48,445
Appropriated accounts
197,561
113,587
113,587
52,349
61,490
To tal
704,814
613,140
613,139
1,099,803
109,935
335,282) (
276,213) (
197,561) (
113,587) (
507,253
499,552
APPROPRIATED ACCOUNTS
AT THE END OF PERIOD / Y EAR
(
52,349)
CASH AND CASH EQUIV ALENTS AT
THE END OF PERIOD / Y EAR
1,201,179
3,581,894
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
1,047,454
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit E
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
1. GENERAL
a. The Company’s Establishment
PT Tower Bersama Infrastructure Tbk (the “Company”), domiciled in South Jakarta, was established based on the
Notarial deed No. 14 dated 8 November 2004 drawn up the in presence of Dewi Himijati Tandika, SH, a Notary in
Jakarta, and was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in his Decree
No. C-28415.HT.01.01.TH.2004 dated 12 November 2004. The Company’s articles of association have been
amended several times, most recently by the Notarial deed No. 9 dated 6 September 2012, drawn up in the
presence of Aryanti Artasari, SH, MKN., a Notary in Jakarta, regarding among others the issuance of shares and
the increasing of issued capital and paid up capital. These amendments have been accepted and registered into
the database of Administrative System for Legal Entities of the Ministry of Law and Human Rights of the Republic
of Indonesia as stated in his Decision Letter No. AHU-AH.01.10-37272 dated 17 October 2012.
Based on Article 3 of the Company’s articles of association, the business activities of the Company, among others
are to carry on the business of telecommunications support services including lease and maintenance of Base
Transceiver Station (BTS), consultation service and conducting investment or participation to other companies.
The Company started its business activities in 2004. Currently, the Company's main activity is investing in
subsidiaries.
The Company’s address is at International Financial Centre Building, 6th floor Jl. Jenderal Sudirman, Lots 22-23
Jakarta 12920.
b. Boards of Commissioners, Directors, Audit Committee and Employees
Based on the deed No. 57 regarding the statement of the Company’s shareholders general meeting decision dated
14 December 2012, the Company appointed Mr. Wahyuni Bahar as an Independent Commissioner.
Based on the deed No. 126 regarding the statement of the Company’s shareholders general meeting decision
dated 25 April 2012, Mr. Sandiaga Salahudin Uno resigned as a Commissioner of the Company. The Boards of
Commissioners and Directors of the Company as of 30 June 2013 and 31 December 2012, 2011 and 2010 are as
follows:
30 June 2013 and 31 December 2012
President Commissioner
Commissioner
Independent Commissioners
President Director
Vice President Director
Directors
Unaffiliated Director
31 December 2011 and 2010
President Commissioner
Commissioners
Independent Commissioners
President Director
Vice President Director
Directors
Unaffiliated Director
:
:
:
:
:
Edwin Soeryadjaya
Winato Kartono
Mustofa
Herry Tjahjana
Wahyuni Bahar
:
:
:
:
:
Herman Setya Budi
Hardi Wijaya Liong
Budianto Purwahjo
Helmy Yusman Santoso
Gusandi Sjamsudin
:
:
:
:
:
Edwin Soeryadjaya
Sandiaga Salahudin Uno
Winato Kartono
Mustofa
Herry Tjahjana
:
:
:
:
:
Herman Setya Budi
Hardi Wijaya Liong
Budianto Purwahjo
Helmy Yusman Santoso
Gusandi Sjamsudin
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit E/2
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
1. GENERAL (Continued)
b. Boards of Commissioners, Directors, Audit Committee and Employees (Continued)
The Audit Committee of the Company as of 30 June 2013 and 31 December 2012, 2011 and 2010 are as follow:
Chairman
Members
:
:
:
Mustofa
Aria Kanaka
Ignatius Andy
On 30 June 2013 and 31 December 2012, 2011 and 2010, the Company appointed Mr. Helmy Yusman Santoso as
Corporate Secretary.
In accordance with Regulation IX.I.7, Decision of Chairman of Bapepam-LK Annex Kep-496/BL/2008 dated
28 November 2008 on the Establishment and Development Guidelines for Internal Audit Charter, the Company has
had Internal Audit Charter dated 10 January 2011 and appointed Mr. Muhammad Jajuli as Head of Internal Audit
Unit by the Board of Directors Decree No. 005/TBG-SKP- 00/HOC/03/I/2011 dated 10 January 2011.
Total remuneration paid to the Board of Commissioners of the Company for the period of 6 (six) months ended
30 June 2013 and 31 December 2012, 2011 and 2010 amounted to Rp 2,413; Rp 2,844; Rp 2,532 and Rp 1,713,
respectively. Total short-term rewards paid to the Board of Commissioners Companies for the period of 6 (six)
months ended 30 June 2013 and 31 December 2012, 2011 and 2010 amounted to Rp 2,413; Rp 2,844; Rp 2,532 and
Rp 1,713, respectively.
Total remuneration paid to the Board of Directors of the Company for the period of 6 (six) months ended on
30 June 2013 and 31 December 2012, 2011 and 2010 amounted to Rp 13,562; Rp 15,556; Rp 15,545 and
Rp 10,515, respectively. Total short –term rewards paid to the Board of Commissioners the period of 6 (six)
months ended 30 June 2013 and 31 December 2012, 2011 and 2010 is Rp 13,562; Rp 15,556; Rp 15,545 and
Rp 10,515, respectively.
On 30 June 2013 and 31 December 2012, 2011 and 2010, the Company and subsidiaries employed 466 staffs,
441 staffs, 404 staffs and 365 staffs (unaudited), respectively.
c. Structure of Subsidiaries
The Company through subsidiaries has direct and indirect shareholding greater than 50% in the following
subsidiaries:
Total assets before elimination
Subsidiaries
Commenc ement
Perc entage of
30 June
of operation
ow nership
2013
1999
99.50%
275,742
296,889
206,059
174,136
2004
2006
2006
2010
100.00%
98.00%
99.90%
100.00%
424,505
5,670,363
1,005,354
97,530
410,378
4,544,543
652,933
95,689
293,746
3,023,308
499,672
90,300
298,676
1,639,366
597,855
46,651
2010
2011
2013
2013
100.00%
70.03%
100.00%
100.00%
5,364,350
4,744,732
6,068,285
9,980
3,988,747
4,180,245
-*
-*
2,564,622
12,000
-*
-*
1,964,981
-*
-*
-*
PT Telenet Internusa
PT United Towerindo
and subsidiary
PT Tower Bersama and subsidiaries
PT Tower One and subsidiary
PT Triaka Bersama
PT Metric Solusi Integrasi
and subsidiary
PT Solusi Menara Indonesia
TBG Global Pte Ltd and subsidiary
PT Menara Bersama Terpadu
31 Dec ember
2012
2011
2010
*) n ot available becaus e it was n ot es tablis hed yet
All subsidiaries are domiciled in Jakarta and their address is the same as the Company’s address, except for
TBG Global Pte. Ltd., which is domiciled in Singapore.
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit E/3
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
1. GENERAL (Continued)
c. Structure of Subsidiaries (Continued)
The Company has indirect shareholdings greater than 50% in the following subsidiaries:
Subsidiaries
Ow nership of subsidiaries
Commenc ement
of operation
Perc entage of
ow nership
30 June
2013
Total assets before elimination
31 Dec ember
2012
2011
2010
PT Batavia Towerindo
PT United Towerindo
2006
89.90%
147,765
141,128
96,176
95,215
PT Prima Media Selaras
PT Tower Bersama
2003
100.00%
534,664
576,579
519,683
620,984
PT Bali Telekom
PT Tower One
2003
100.00%
596,798
561,419
408,199
506,365
PT Solu Sindo Kreasi Pratama
PT Metric Solusi Integrasi
1999
75.09%
4,583,766
3,861,752
2,437,585
1,835,429
PT Mitrayasa Sarana Informasi
PT Tower Bersama and
2004
100.00%
656,171
608,136
461,784
543,629
PT Towerindo Konvergensi
PT Tower Bersama
2009
100.00%
360,278
340,245
131,517
25,187
Tower Bersama Singapore Pte Ltd
TBG Global Pte Ltd
2012
100.00%
3,021,655
2,222
PT Solu Sindo Kreasi Pratama
-*
-*
*) n ot available becaus e it was n ot es tablis hed yet
The followings are the information about the subsidiaries.
c.1 PT Telenet Internusa
PT Telenet Internusa (“TI”) is a Limited Liability Company established in Indonesia based on the Deed of
Establishment No. 8 dated 6 September 1999, drawn up in the presence of Dr. Wiratni Ahmadi, SH, a Notary
in Bandung.
TI’s Deed of Establishment was approved by the Minister of Justice and Human Rights of the Republic of
Indonesia through Letter No. C-18566.HT.01.01.TH.2001 dated 6 November 2001 and was published in State
Gazette No.15 dated 21 February 2006, Supplement No.1896.
TI’s articles of association have been amended several times; the latest amendment was based on Deed
No. 82 dated 23 December 2010, drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in Jakarta,
regarding increasing authorized capital, issued capital and paid-up capital. This amendment has been
approved by the Ministry of Law and Human Rights through Decision Letter No. AHU-01618.AH.01.02.Tahun
2011 dated 12 January 2011
In accordance with Article 3 of TI articles of association, the scope of its activities involves services (except
services in law and tax), developments, trades, industries, mines and transportation.
c.2 PT United Towerindo and subsidiary
PT United Towerindo (“UT”) is a Limited Liability Company established in Indonesia based on the Deed of
Establishment No. 40 dated 30 June 2004, drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in
Jakarta. UT’s Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic
of Indonesia through Decision Letter No.C-18090.HT.01.01.TH.2004 dated 20 July 2004 and was published in
the State Gazette No. 40 dated 13 August 2004, Supplement No. 7930. UT articles of association have been
amended several times, the latest amendment was based on Deed No. 84 dated 23 December 2010, drawn
up in the presence of Darmawan Tjoa, SH, SE, a Notary in Jakarta, regarding increasing authorized capital,
issued capital and paid-up capital. This amendment has been approved by the Ministry of Law and Human
Rights through Decision Letter No.AHU-05395.AH.01.02.Tahun 2011 dated 1 February 2011.
In accordance with Article 3 of UT’s articles of association, the scope of its activities involves services
(except services in law and tax), developments, trades, industries, mines and transportation.
UT has a subsidiary company which is PT Batavia Towerindo.
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit E/4
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
1. GENERAL (Continued)
c. Structure of Subsidiaries (Continued)
c.3 PT Tower Bersama and subsidiaries
PT Tower Bersama (“TB”) is a Limited Liability Company established in Indonesia based on the Deed of
Establishment No. 5 dated 4 July 2006, drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in
Jakarta. TB’s Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic
of Indonesia through Decision Letter No. C-20821 HT.01.01.TH.2006 dated 17 July 2006 and was published in
the State Gazette No.104 dated 29 December 2006, Supplement No. 13530. TB’s articles of association have
been amended several times, the latest amendment was based on Deed No. 79 dated 23 December 2010,
drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in Jakarta, regarding increasing authorized
capital, issued capital and paid-up capital. This amendment has been approved by the Ministry of Law and
Human Rights through Decision Letter No.AHU-03025.AH.01.02.Tahun 2011 dated 19 January 2011.
In accordance with Article 3 of TB’s articles of association, the scope of its activities involves services
(except services in law and tax), developments, trades and industries.
TB has 3 (three) subsidiaries companies which are PT Prima Media Selaras, PT Mitrayasa Sarana Informasi and
PT Towerindo Konvergensi. PT Mitrayasa Sarana Informasi and PT Towerindo Konvergensi were acquired by
PT Tower Bersama on 8 August 2011 and 7 October 2011, respectively.
c.4 PT Tower One and subsidiary
PT Tower One (“TO”) is a Limited Liability Company established in Indonesia based on the Deed of
Establishment No. 6 dated 21 September 2006, drawn up in the presence of Angela Meilany Basiroen, SH, a
Notary in Jakarta.
TO’s Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of
Indonesia through Decision Letter No.W7-03499 HT.01.01-TH.2006 dated 8 December 2006 and was published
in the State Gazette No. 63 dated 7 August 2009, Supplement No. 21141. TO’s articles of association have
been amended several times, the latest amendment was based on Deed No. 83 dated 23 December 2010,
drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in Jakarta, regarding increasing authorized
capital, issued capital and paid-up capital. This amendment has been approved by the Ministry of Law and
Human Rights of the Republic of Indonesia through Decision Letter No. AHU-02877. AH.01.02.Tahun 2011
dated 19 January 2011.
In accordance with Article 3 of TO’s articles of association, the scope of its activities involves services
(except services in law and tax), developments, trades and industries.
TO has a subsidiary company which is PT Bali Telekom.
c.5 PT Triaka Bersama
PT Triaka Bersama (“TRB”) is a Limited Liability Company established in Indonesia based on the Deed of
Establishment No. 33 dated 15 May 2009, drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in
Jakarta. TRB’s Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic
of Indonesia through Decision Letter No. AHU-24774.AH.01.01.Tahun 2009 dated 5 June 2009 and was
published in the State Gazette No. 63 dated 7 August 2009, Supplement No. 20847. TRB’s articles of
association were last amended by the deed No. 37 dated 20 January 2012, made before Darmawan Tjoa SH,
SE, a Notary in Jakarta.
TRB’s has received the letter of acceptance notice of amandement to the data from the Ministry of Law and
Human Rights of the Republic of Indonesia through Decree No. AHU-AH.01.10-04177 dated 7 February 2012
regarding the change of the shareholders and the board.
In accordance with Article 3 of TRB’s articles of association, the scope of its activities involves services
(except services in law and tax), developments, trades and industries.
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit E/5
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
1. GENERAL (Continued)
c. Structure of Subsidiaries (Continued)
c.6
PT Metric Solusi Integrasi and subsidiary
PT Metric Solusi Integrasi (“MSI”) is a Limited Liability Company established in Indonesia based on the Deed of
Establishment No. 20 dated 12 March 2010 drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in
Jakarta. MSI’s Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of
Indonesia through Decision Letter No. AHU-13915 AH.01.01. Tahun 2010 dated 18 March 2010. MSI articles of
association have been amended several times. The latest amendment was based on Deed No. 33 dated 7 May 2012,
drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in Jakarta, regarding change of domicile of the
subsidiary. This amendment has been approved by the Ministry of Law and Human Rights of the Republic of
Indonesia through Decision Letter No. AHU-26675. AH.01.02.Tahun 2012 dated 16 May 2012.
In accordance with Article 3 of MSI’s articles of association, the scope of its activities involves services (except
services in law and tax), developments, trades and industries.
MSI has a subsidiary company which is PT Solu Sindo Kreasi Pratama.
c.7
PT Solusi Menara Indonesia
PT Solusi Menara Indonesia (“SMI”) is a Limited Liability Company established in Indonesia under the Deed of
Establishment No. 77 dated 19 December 2011, drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in
Jakarta.
SMI’s Deed of Establishment was approved by the Ministry of Law and Human of the Republic of Indonesia through
Decree No. AHU-63259.AH.01.01. Tahun 2011 dated 22 December 2011. SMI’s articles of association have been
amended based on the deed No. 37 dated 12 July 2012, drawn up in the presence of Darmawan Tjoa, SH, SE, a
Notary in Jakarta. SMI has received the letter of acceptance notice of amendment to the articles of association
from the Ministry of Law and Human Rights of the Republic of Indonesia through Decree No. AHU-AH.01.10.26063
dated 17 July 2012 regarding the increase of issued capital and paid up capital.
According to Article 3 of SMI’s articles of association, the scope of its business involves services (except services in
law and tax), developments, trades and industries.
c.8 TBG Global Pte. Ltd. and subsidiary
TBG Global Pte. Ltd. (“TBGG”) is a Limited Liability Company incorporated under the law of Republic of Singapore
based on registration number 201302879K.
TBGG has a subsidiary company which is Tower Bersama Singapore Pte. Ltd.
c.9 PT Menara Bersama Terpadu
PT Menara Bersama Terpadu (“MBT”) is a Private Limited Liability Company incorporated in Indonesia under deed
of establishment No.11 dated 8 January 2013, drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in
Jakarta. MBT's deed of establishment was approved by the Ministry of Law and Human Rights of the Republic of
Indonesia through Decree No.AHU-02685.AH.01.01.Tahun 2013 dated 25 January 2013.
According to Article 3 of MBT's articles of association, the scope of its business involves services (except services in
law and tax), developments, trades and industries.
d. Share Public Offering
On 15 October 2010, the Company received an effective statement from the Chairman of the Capital Market and
Financial Institution Supervisory Agency (BAPEPAM-LK) in its Decision Letter No. S-9402/BL/2010 to offer 551,111,000 of
its shares to the public with par value of Rp 100 (full amount) per share through the Indonesia Stock Exchange, at an
initial offering price of Rp 2,025 (full amount) per share. On 26 October 2010, those shares were listed on the Indonesia
Stock Exchange.
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit E/6
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in
Indonesia comprising of the Statements of Financial Accounting Standards (SFAS) and rules established by the Capital
Market and Financial Institution Supervisory Agency (BAPEPAM-LK) No. VIII.G.7 Attachment of chairman of BAPEPAM’s
decision No. KEP-347/BL/2012 dated 25 June 2012 regarding “Financial Statements Presentation Guidance”. Significant
accounting policies applied consistently in the preparation of the consolidated financial statements for the period of
6 (six) months ended 30 June 2013 and for the year ended 31 December 2012, 2011, and 2010 are as follows:
a. Basis of Preparation of the Consolidated Financial Statements
In conformity with SFAS No. 1, the consolidated financial statements, except for the consolidated statements of cash
flows, are prepared under accrual basis of accounting. The reporting currency used in preparing the consolidated
financial statements is in Rupiah, where the basic measurement is the concept of historical cost, except for certain
accounts, which are measured based on the explanation of the accounting policies of the respective accounts.
The consolidated statements of cash flows are prepared using the direct method by classifying cash flows on the basis
of operating, investing and financing activities.
Amounts in the consolidated financial statements are rounded to and stated in millions of Rupiah, unless otherwise
stated.
Adoption of revised SFAS, new SFAS and revised IFAS
The accounting policies adopted are consistent with the accounting policies of the fiscal year before, except from the
book in question, the company adopted the Statement of Financial Accounting Standards (SFAS) Financial Accounting
Standards and Interpretations (IFAS) new and revised that effective early on or after 1 January 2012. Changes in
accounting policies the Company has adjusted as required by the provisions of the relevant transition in SFAS and IFAS.
The impact of the Company and subsidiaries’ accounting policy changes with respect to the implementation of the new
accounting standards are not significant except for the following:
-
SFAS No. 10 (Revised 2010),”Impact of Foreign Exchange”, explains how to enter transactions in foreign currency
and foreign business activities into the financial statements of an entity and describes financial statements into a
currency reporting.
-
SFAS No. 16 (Revised 2011),”Fixed Asset”, explains the accounting treatment of fixed assets.
-
SFAS No. 24 (Revised 2010),”Post-Employee Benefits”, arranges employment accounting for employer entity.
-
SFAS No. 46 (Revised 2010),”Income Tax”, regulates the treatment of accounting for income taxes that is not set
in the previous standard.
-
SFAS No. 50 (Revised 2010),”Financial Instrument: Financial Presentation”, sets the principle of serving the
financial instruments as liabilities or equity and remove financial assets and financial liabilities.
-
SFAS No. 60, ”Financial Instrument: Financial Disclosure”, requires the entity to provide disclosures in the
financial statements that enable users to evaluate the significance of financial instruments for the entity's
financial position and performance and the type and magnitude of risks arising from financial instruments to
which the entity is exposed during the period and at the end of the year reporting, and how the entity manages
those risks.
-
IFAS No. 15, ”SFAS 24 - Asset Limits in Post- Employment Benefits, Minimum Funding Requirements and their
interaction”, applies to all the programs in post-employment benefits and other post-employment benefits.
-
IFAS No. 20, ”Income Tax - Earnings changes in the Tax Status of an entity or its shareholders”, discusses problems
regarding the tax consequences are now tax-deferred interest and due to differences in the tax status of an entity
or its shareholders will be charged in accordance with his post, if related to the statement of comprehensive
income included in statement of comprehensive income, if related to other comprehensive income (OCI) entered
in OCI or directly charged to the equity.
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit E/7
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
b. Principles of Consolidation
Prior 1 January 2011
The consolidated financial statements include the financial statements of the Company and subsidiaries with
more than 50% of their voting rights owned either directly or indirectly by the Company and subsidiaries as well
as Company and subsidiaries with 50% or less voting rights owned either directly or indirectly by the Company
and subsidiaries but the existence of control can be proved.
Subsidiaries are consolidated from the date on which effective control is transferred to the Company and
subsidiaries, and no longer consolidated from the date of disposal.
The balance of transactions between companies within the Company and subsidiaries, including profit (loss)
between companies within the Company and subsidiaries which has not been realized are eliminated to reflect
the actual fin
AND SUBSIDIARIES
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011
AND 2010 (AUDITED) AND THE PERIOD OF 6 (SIX) MONTHS ENDED
30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED) AND
THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND
INDEPENDENT AUDITORS’ REPORT
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
CONTENTS
Directors’ Statement
Independent Auditors’ Report
Report on Review of Interim Financial Information
Exhibit
Interim Consolidated Statements of Financial Positions
A
Interim Consolidated Statements of Comprehensive Income
B
Interim Consolidated Statements of Changes in Equity
C
Interim Consolidated Statements of Cash Flows
D
Notes to Interim Consolidated Financial Statements
E
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit A
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
30 June
Notes
2013
31 Dec ember
2012
2011
2010
A SSETS
CURRENT A SSETS
Cash and cash equivalents
2d,e,f,3
Appropriated accounts
2d,e,f,4,25
Investments
2e,9
1,201,179
507,253
499,552
1,047,454
335,282
197,561
113,587
52,349
1,210
1,442
16,870
26,042
252,627
154,056
149,203
130,733
Trade receivables - Third parties
(net of the allowance for impairment losses of
Rp 13,190 as of 30 June 2013 and
31 December 2012)
2e,g,y ,5
Other receivables - Third parties
2e,g,6
27,533
12,559
9,997
13,411
Advance for investment in shares
7
-
-
2,900
-
Advance for shares repurchase
8,47a
250,000
Accrued revenue
2e,m,10
461,825
320,321
197,610
143,578
Inventories and supplies
2s,11
311,437
228,771
33,545
47,321
Advance payments and prepaid expenses
2m,12
93,134
85,388
92,949
43,171
Prepaid taxes
2n,21a,47b
503,553
500,378
70,055
38,977
-
-
Non-current assets held for sale
2v,18
Total Current A ssets
292,500
-
1,000
-
-
3,437,780
2,301,229
1,186,268
1,543,036
228,273
107,163
13,006
7,134
NON-CURRENT A SSETS
Deferred tax assets - Net
2n,21d
Property and equipment - net of
accumulated depreciation of Rp 77,412;
Rp 66,404; Rp 52,892; and Rp 33,224
as of 30 June 2013, 31 December
2h,k,
2012, 2011 and 2010, respectively
t,y ,13,35
91,200
87,100
383,713
207,550
11,787,075
10,363,924
4,283,000
2,824,607
2q,39
677,169
677,169
677,169
467,236
15
728,777
618,953
244,127
96,869
Refundable deposits
16
3,864
3,043
2,526
2,487
Deferred expenses
17
Investment properties - fair value
2i,j,t,14,31
Goodwill - fair value
Long-term landlease
-
-
-
1,826
1,978
1,978
1,978
1,978
317,468
152,225
83,173
23,719
4,425
4,699
5,246
Total Non-Current A ssets
13,840,229
12,016,254
5,693,938
3,633,406
TOTA L A SSETS
17,278,009
14,317,483
6,880,206
5,176,442
Estimated claims for tax refund
2n
Derivative receivables
2d,e,33a
Other non-current assets
2t,x,39
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
-
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit A/2
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
30 June
Notes
2013
31 Dec ember
2012
2011
2010
LIA BILITIES A ND EQUITY
SHORT-TERM LIA BILITIES
Trade payables - Third parties
2d,e,19
Other payables - Third parties
2e,20
162,565
252,668
77,204
81,270
23,253
18,005
36,114
14,700
105,560
122,320
68,427
71,856
Taxes payable
2n,y ,21b
Unearned income
2m,22
545,405
209,224
136,388
124,677
Accrued expenses
2e,m,23
970,382
721,825
308,101
105,182
Long-term loans - current portion
Finance leases
Third parties
2e,k,24
2,863
2,440
1,723
2,110
2d,e,25
794,832
855,532
241,789
59,353
2,604,860
2,182,014
869,746
459,148
40,000
41,600
Total Short-Term Liabilities
LONG-TERM LIA BILITIES
Due to related parties
2c ,e,32
-
-
Deferred tax liability - Net
2n,21d
-
416
416
10,064
Provision for post-employment benefits
2l,y ,37
24,385
18,501
10,994
10,439
Long-term joint investments
27
245
267
341
922
Negative goodwill - net of
accumulated amortization of
Rp 2,353 at 31 December 2010
Long-term notes
2q,39
2d,e,26
2,911,362
-
-
-
-
6,472
-
Long-term loans - net of current portion
Finance leases
Third parties
Total Long-Term Liabilities
Total Liabilities
2e,k,24
6,619
7,297
4,677
3,826
2d,e,25
6,751,707
7,863,595
3,248,823
2,325,444
9,694,318
7,890,076
3,305,251
2,398,767
12,299,178
10,072,090
4,174,997
2,857,915
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit A/3
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
30 June
Notes
31 Dec ember
2013
2012
2011
2010
EQUITY
Share capital
As of 30 June 2013 and 31 December 2012,
2011 and 2010, par value of Rp 100 (full
amount) per share. Authorized capital of
14,420,120,000 shares. Issued and fully
paid-in capital: As of 30 June 2013 and
31 December 2012 are 4,796,526,199
shares. As of 31 December 2011
and 2010 are 4,556,699,889 shares,
respectively
28
Additional paid-in capital - Net
2u,o,29
Other comprehensive income
33
(
479,653
479,653
455,670
455,670
1,721,729
1,916,959
1,183,858
1,185,098
19,395) (
101,919)
14,558
-
-
12,505
Difference arising from changes in
Subsidiaries' equity
2p,33
-
2c ,o,30
-
-
Differences arising from restructuring
transactions of entities under
common control
(
2,008) (
2,008) (
2,008)
Retained earnings
Statutory reserves
Unappropriated
30,100
20,100
10,100
100
2,515,531
1,681,807
849,872
492,959
4,727,618
3,994,592
2,512,050
2,144,324
251,213
250,801
193,159
174,203
4,978,831
4,245,393
2,705,209
2,318,527
17,278,009
14,317,483
6,880,206
5,176,442
Total equity attributable to equity
holder of the parent company
Non-c ontrolling interest
Total Equity
TOTA L LIA BILITIES A ND EQUITY
2b,40
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit B
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
30 June (6 months)
Notes
2013
31 Dec ember (1 y ear)
2012
2012
2011
2010
REV ENUE
2m,34
1,271,386
647,222
1,715,421
970,026
671,360
COST OF REV ENUE
2m,35
180,311
95,675
263,837
143,262
98,196
1,091,075
551,547
1,451,584
826,764
573,164
120,103
75,362
171,195
119,278
86,877
970,972
476,185
1,280,389
707,486
486,287
438,017
46,393
258,542
99,889
209,569
5,539
2,770
16,715
16,149
6,159
707
197
464
GROSS PROFIT
OPERA TING EX PENSES
2m,36
INCOME FROM OPERA TIONS
OTHER INCOME (CHA RGES)
Increase of fair value of
investment properties
2i,14,31
Interest income
Gain (loss) on disposal of assets
2h,13
Amortization of other assets - Net
2q,39
-
Impairment of fair value of goodwill
2q,39
-
(
274)
(
-
-
-
150)
-
(
136
(
8,687)
22,724)
-
Allowance for impairment losses of
trade receivables
-
2e,g,5
-
(
13,190)
-
-
Loss on foreign exchange - Net
2d
(
118,776) (
16,163) (
84,103) (
14,321) (
17,515)
Financial expenses - Interest
2e,25,26
(
324,152) (
154,377) (
467,482) (
246,597) (
226,325)
Financial expenses - Others
2e,25,26
(
82,229) (
19,352) (
67,358) (
24,176) (
66,755)
Others - Net
(
9,333)
4,915 (
10,729) (
16,645) (
9,535)
Other Charges - Net
(
90,227) (
135,891) (
367,141) (
194,538) (
126,990)
340,294
913,248
512,948
359,297
880,745
PROFIT BEFORE INCOME TA X
INCOME TA X BENEFITS (EX PENSES)
2n,y ,21c ,d
(
Current
63,064) (
121,526
Deferred
Inc ome Tax Benefits (expenses) - Net
NET PROFIT FOR THE PERIODS / Y EA RS
58,462 (
939,207
31,109) (
2,424
28,685)
311,609
79,990) (
35,195) (
94,157
14,595
14,167 (
20,600) (
927,415
492,348
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
22,091)
2,172
19,919)
339,378
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit B/2
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
30 June (6 months)
Notes
NET PROFIT FOR THE PERIODS / Y EA RS
31 Dec ember (1 y ear)
2013
2012
2012
2011
2010
939,207
311,609
927,415
492,348
339,378
123,996) (
105,819)
2,143
12,584
OTHER COMPREHENSIV E INCOME
Cash flows hedging reserves
87,148 (
33a
Impairment of fair value investment available for sale
33b
(
232)
-
-
-
-
201
-
-
-
-
Difference from translation of
foreign currency
33c
87,117 (
2,143
12,584
821,596
494,491
351,962
282,913
841,935
474,358
326,729
28,696
85,480
17,990
12,649
939,207
311,609
927,415
492,348
339,378
Equity holders of the parent company
926,248
181,890
745,869
476,411
339,234
Non-controlling interest
100,076
5,723
75,727
18,080
12,728
1,026,324
187,613
821,596
494,491
351,962
175.90
62.09
180.80
104.10
84.56
Other c omprehensive inc ome - Net
123,996) (
105,819)
1,026,324
187,613
843,724
95,483
TOTA L COMPREHENSIV E INCOME FOR
THE PERIODS / Y EA RS
Total net profit for the periods / y ears
attributable to :
Equity holders of the parent company
Non-controlling interest
2b,40
To tal
Total c omprehensive inc ome for
the periods / y ears attributable to:
To tal
BA SIC EA RNINGS PER SHA RE
A TTRIBUTA BLE TO COMMON
SHA REHOLDERS OF THE PA RENT
COMPA NY (full amount)
2r,41
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit C
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
Other c omprehensive inc ome
Additional
paid-in
c apital
Share c apital
Balance as of 1 January 2013
479,653
1,914,951 (
Differences arising from transaction
with non-controlling parties (Note 8,29)
-
Adjustment for changes in effective ownership
in subsidiaries' (Note 33)
-
-
General reserves
-
-
Differences arising from restructuring transactions
of entities under common control (Note 30)
-
Cash flow hedging reserves (Note 33a)
-
(
192,836)
(
Differenc es
arising from
c hanges in
subsidiaries'
equity
91,261)
-
-
386)
82,497
-
-
-
Difference from translation of foreign currency
-
-
-
Comprehensive income for the period (6 months)
-
-
-
Balance as of 30 June 2013
479,653
Note 28
1,721,729 (
Note 29
(
-
(
Statutory
reserves
Unappropriated
Total equity
attributable to
equity holders
of the parent
c ompany
Non-c on trolling
interest
1,681,807
3,994,592
250,801
20,100
-
-
-
-
10,000
(
-
-
-
-
-
-
-
(
174)
-
-
230
Note 33
(
-
-
-
-
11,638)
Note 33
30,100
(
10,000)
-
201
Note 33
777)
-
-
7,987)
10,687)
-
-
-
Impairment of fair value of investment available for sale
29
Retained earnings
Impairment of
fair value available for
sale
-
777
-
Differenc e
from
translation
of foregin
c urrenc y
(
192,836) (
4,245,393
99,664) (
292,500)
-
-
-
-
-
-
386)
-
82,497
(
Total
c onsolidated
equity
(
4,651
174) (
201
58) (
-
386)
87,148
232)
201
843,724
843,724
95,483
939,207
2,515,531
4,727,618
251,213
4,978,831
Note 38
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
Note 40
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit C/2
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
Other c omprehensive inc ome
Retained earnings
Differenc es
arising from
Balance as of 1 January 2012
General reserves
Share c apital
Additional
paid-in
c apital - Net
455,670
1,183,858
-
-
Comprehensive income for the period (6 months)
-
-
455,670
Note 28
(
1,183,858 (
Note 29
restruc turing
transac tions of
entities under
c ommon
c ontrol
14,558 (
-
Other comprehensive income
Balance as of 30 June 2012
Differenc es
arising from
c hanges in
subsidiaries'
equity
2,008)
-
Statutory
reserves
10,000
101,023)
-
-
-
-
-
86,465) (
Note 33
2,008)
Note 30
Unappropriated
10,100
20,100
Total equity
attributable to
equity holders
of the parent
c ompany
Non-c on trolling
interest
2,512,050
193,159
849,872
(
10,000)
-
(
Total
c onsolidated
equity
-
2,705,209
-
101,023) (
22,973) (
123,996)
282,913
282,913
28,696
311,609
1,122,785
2,693,940
198,882
2,892,822
Note 38
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
Note 40
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit C/3
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
Other c omprehensive inc ome
Retained earnings
Differenc es
Share c apital
Balance as of 1 January 2012
Additional
paid-in
c apital - Net
455,670
1,183,858
23,983
733,101
Paid in capital (Note 28,29)
Differenc es
arising from
c hanges in
subsidiaries'
equity
Impairment of
fair value available for
sale
-
-
-
-
-
-
-
-
-
-
-
10,000
-
-
-
-
-
(
105,819) (
-
-
-
(
10,687)
-
-
-
-
-
-
-
14,558
General reserves
-
-
Cash flow hedging reserves
-
-
Impairment fair value of investment avaliable for sale
-
-
-
Difference from translation
of foreign currency
-
-
-
Comprehensive income for the year (1 year)
-
-
-
Balance as of 31 December 2012
479,653
Note 28
(
1,916,959 (
Note 29
arising from
restruc turing
transac tions of
entities under
c ommon
c ontrol
Differenc e
from
translation
of foregin
c urrenc y
105,819)
-
(
29
91,261)
Note 33
29 (
Note 33
(
10,687)
10,687) (
Note 33
2,008)
2,008)
Note 30
Statutory
reserves
Unappropriated
10,100
20,100
Total equity
attributable to
equity holders
of the parent
c ompany
849,872
Total
c onsolidated
equity
193,159
2,705,209
2,512,050
(
Non-c on trolling
interest
757,084
10,000)
-
29
841,935
841,935
1,681,807
3,994,592
Note 38
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
-
757,084
-
27,838) (
133,657)
(
10,687)
-
-
29
85,480
927,415
250,801
4,245,393
Note 40
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit C/4
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
Other c omprehensive inc ome
Share c apital
Balance as of 1 January 2011
455,670
Adjustment of negative goodwill
-
Share issuance cost
-
General reserves
-
Cash dividends (Note 39)
Cash flow hedging reserves
Comprehensive income for the year (1 year)
Balance as of 31 December 2011
A dditional
paid-in
c apital - net
Differenc es
arising from
c hanges in
subsidiaries'
equity
1,185,098
12,505 (
Retained earnings
Statutory
reserves
2,008)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
455,670
(
1,240)
1,183,858
Note 29
2,053
14,558 (
Note 33
10,000
-
-
-
-
-
2,008)
Note 30
10,100
Total equity
attributable to
equity holders
of the parent
c ompany
Unappropriated
100
-
Note 28
-
Differenc es
arising from
restruc turing
transac tions of
entities under
c ommon
c ontrol
492,959
2,144,324
6,472
(
(
10,000)
(
Non-c on trolling
interest
113,917) (
-
174,203
6,472
-
1,240)
-
-
Total
c onsolidated
equity
2,318,527
6,472
(
-
1,240)
-
113,917) (
149) (
114,066)
2,053
1,115
3,168
474,358
474,358
17,990
492,348
849,872
2,512,050
193,159
2,705,209
Note 38
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
Note 40
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit C/5
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
Other c omprehensive inc ome
Retained earnings
Differenc es
Share c apital
Balance as of 1 January 2010
A dditional
paid-in
c apital - net
360,503
Share capital payments
-
95,167
1,246,133
2,008)
100
166,230
-
-
61,035)
-
-
-
-
-
-
-
-
-
-
-
-
-
Additional non controlling interest
from acquisition of subsidiary
-
-
Difference arising from changes in
subsidiaries' equity
-
-
Comprehensive income for the year (1 year)
-
-
455,670
(
1,185,098
Note 29
12,505
12,505 (
Note 33
2,008)
Note 30
100
Total equity
attributable to
equity holders
of the parent
c ompany
Unappropriated
-
-
Note 28
-
Statutory
reserves
-
Share issuance cost
Balance as of 31 December 2010
(
arising from
restruc turing
transac tions of
entities under
c ommon
c ontrol
Differenc es
arising from
c hanges in
subsidiaries'
equity
Non-c on trolling
interest
Total
c onsolidated
equity
524,825
17,019
541,844
1,341,300
2,881
1,344,181
(
61,035)
-
-
(
141,128
61,035)
141,128
12,505
526
13,031
326,729
326,729
12,649
339,378
492,959
2,144,324
174,203
2,318,527
Note 38
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
Note 40
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit D
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
30 June (6 months)
2013
31 Dec ember (1 y ear)
2012
2012
2011
2010
CA SH FLOW S FROM OPERA TING A CTIV ITIES
Cash received from customers
1,328,603
627,061
1,648,054
917,314
588,423
5,539
2,770
16,715
16,149
6,159
Interest received from current accounts
and time deposits
(
559) (
961 (
996)
Payments of income tax
(Placement) withdrawal of security deposits
(
56,411) (
-
24,220) (
56,873) (
518)
43,121) (
26,149)
Cash paid to employees
(
74,237) (
42,457) (
73,416) (
64,812) (
42,754)
Cash paid to supplier
(
260,852) (
158,887) (
257,210) (
195,167) (
177,859)
942,642
403,708
1,276,752
631,324
346,824
906
14,592
14,954
-
-
Net c ash flow s provided by operating
ac tivities
CA SH FLOW S FROM INV ESTING A CTIV ITIES
Cash received on sale of
property and equipment
Withdrawal (placement) of time deposits
-
372
9,173
201
(
9,332)
Acquisition of property and equipment
(
15,365) (
8,481) (
32,527) (
36,536) (
39,230)
Purchase and lease of land
(
158,206) (
98,410) (
459,246) (
200,055) (
88,723)
Acquisition and investment in shares
(
250,000)
-
(
304,605) (
208,052) (
151,851)
-
(
385,944)
Payment of value added tax from
tower acquisition
-
-
-
Addition of investment properties
(
806,869) (
481,253) ( 4,404,985) ( 1,049,216) (
526,597)
Net c ash flow s used in investing ac tivities
( 1,229,534) (
573,552) ( 5,572,353) ( 1,484,314) (
815,532)
CA SH FLOW S FROM FINA NCING A CTIV ITIES
Long-term notes issuance
2,903,400
Withdrawals of bank loans
345,555
3,804,600
-
-
5,344,861
-
1,142,224
Capital contribution
-
-
-
Initial public offering costs
-
-
-
(
1,240) (
Payments to related parties loan
-
-
-
(
1,600) (
Dividends payment
-
-
-
(
3,167,567
1,344,186
114,068)
59,715)
2,151)
-
Payments of third parties loans
(
22) (
19,073) (
74) (
580) (
166,415)
Payments of finance lease
(
1,334) (
2,065) (
3,579) (
2,920) (
2,143)
(
498,185) (
232,317) (
674,429) (
265,020) (
325,718)
( 1,630,875) (
136,334) (
279,503) (
390,470) ( 2,497,035)
Payments of interest and cost of borrowings/
long-term notes
Payments of bank loans
Net c ash flow s provided by financ ing
ac tivities
NET INCREA SE (DECREA SE) OF CA SH
1,118,539
3,414,811
4,387,276
831,647
3,244,967
91,675
366,326
(
486,664)
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
1,458,576
989,868
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Ekshibit D/2
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
30 June (6 months)
2013
NET INCREASE (DECREASE) OF CASH (Continued)
2012
31 Dec ember (1 y ear)
2012
831,647
3,244,967
91,675
2011
(
486,664)
2010
989,868
CASH AT BEGINNING OF PERIOD/ Y EAR
Cash and cash equivalents
507,253
499,553
499,552
1,047,454
48,445
Appropriated accounts
197,561
113,587
113,587
52,349
61,490
To tal
704,814
613,140
613,139
1,099,803
109,935
335,282) (
276,213) (
197,561) (
113,587) (
507,253
499,552
APPROPRIATED ACCOUNTS
AT THE END OF PERIOD / Y EAR
(
52,349)
CASH AND CASH EQUIV ALENTS AT
THE END OF PERIOD / Y EAR
1,201,179
3,581,894
See accompanying Notes to Interim Consolidated Financial Statements on Exhibit E
which are an integral part of Interim Consolidated Financial Statements taken as a whole
1,047,454
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit E
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
1. GENERAL
a. The Company’s Establishment
PT Tower Bersama Infrastructure Tbk (the “Company”), domiciled in South Jakarta, was established based on the
Notarial deed No. 14 dated 8 November 2004 drawn up the in presence of Dewi Himijati Tandika, SH, a Notary in
Jakarta, and was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in his Decree
No. C-28415.HT.01.01.TH.2004 dated 12 November 2004. The Company’s articles of association have been
amended several times, most recently by the Notarial deed No. 9 dated 6 September 2012, drawn up in the
presence of Aryanti Artasari, SH, MKN., a Notary in Jakarta, regarding among others the issuance of shares and
the increasing of issued capital and paid up capital. These amendments have been accepted and registered into
the database of Administrative System for Legal Entities of the Ministry of Law and Human Rights of the Republic
of Indonesia as stated in his Decision Letter No. AHU-AH.01.10-37272 dated 17 October 2012.
Based on Article 3 of the Company’s articles of association, the business activities of the Company, among others
are to carry on the business of telecommunications support services including lease and maintenance of Base
Transceiver Station (BTS), consultation service and conducting investment or participation to other companies.
The Company started its business activities in 2004. Currently, the Company's main activity is investing in
subsidiaries.
The Company’s address is at International Financial Centre Building, 6th floor Jl. Jenderal Sudirman, Lots 22-23
Jakarta 12920.
b. Boards of Commissioners, Directors, Audit Committee and Employees
Based on the deed No. 57 regarding the statement of the Company’s shareholders general meeting decision dated
14 December 2012, the Company appointed Mr. Wahyuni Bahar as an Independent Commissioner.
Based on the deed No. 126 regarding the statement of the Company’s shareholders general meeting decision
dated 25 April 2012, Mr. Sandiaga Salahudin Uno resigned as a Commissioner of the Company. The Boards of
Commissioners and Directors of the Company as of 30 June 2013 and 31 December 2012, 2011 and 2010 are as
follows:
30 June 2013 and 31 December 2012
President Commissioner
Commissioner
Independent Commissioners
President Director
Vice President Director
Directors
Unaffiliated Director
31 December 2011 and 2010
President Commissioner
Commissioners
Independent Commissioners
President Director
Vice President Director
Directors
Unaffiliated Director
:
:
:
:
:
Edwin Soeryadjaya
Winato Kartono
Mustofa
Herry Tjahjana
Wahyuni Bahar
:
:
:
:
:
Herman Setya Budi
Hardi Wijaya Liong
Budianto Purwahjo
Helmy Yusman Santoso
Gusandi Sjamsudin
:
:
:
:
:
Edwin Soeryadjaya
Sandiaga Salahudin Uno
Winato Kartono
Mustofa
Herry Tjahjana
:
:
:
:
:
Herman Setya Budi
Hardi Wijaya Liong
Budianto Purwahjo
Helmy Yusman Santoso
Gusandi Sjamsudin
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit E/2
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
1. GENERAL (Continued)
b. Boards of Commissioners, Directors, Audit Committee and Employees (Continued)
The Audit Committee of the Company as of 30 June 2013 and 31 December 2012, 2011 and 2010 are as follow:
Chairman
Members
:
:
:
Mustofa
Aria Kanaka
Ignatius Andy
On 30 June 2013 and 31 December 2012, 2011 and 2010, the Company appointed Mr. Helmy Yusman Santoso as
Corporate Secretary.
In accordance with Regulation IX.I.7, Decision of Chairman of Bapepam-LK Annex Kep-496/BL/2008 dated
28 November 2008 on the Establishment and Development Guidelines for Internal Audit Charter, the Company has
had Internal Audit Charter dated 10 January 2011 and appointed Mr. Muhammad Jajuli as Head of Internal Audit
Unit by the Board of Directors Decree No. 005/TBG-SKP- 00/HOC/03/I/2011 dated 10 January 2011.
Total remuneration paid to the Board of Commissioners of the Company for the period of 6 (six) months ended
30 June 2013 and 31 December 2012, 2011 and 2010 amounted to Rp 2,413; Rp 2,844; Rp 2,532 and Rp 1,713,
respectively. Total short-term rewards paid to the Board of Commissioners Companies for the period of 6 (six)
months ended 30 June 2013 and 31 December 2012, 2011 and 2010 amounted to Rp 2,413; Rp 2,844; Rp 2,532 and
Rp 1,713, respectively.
Total remuneration paid to the Board of Directors of the Company for the period of 6 (six) months ended on
30 June 2013 and 31 December 2012, 2011 and 2010 amounted to Rp 13,562; Rp 15,556; Rp 15,545 and
Rp 10,515, respectively. Total short –term rewards paid to the Board of Commissioners the period of 6 (six)
months ended 30 June 2013 and 31 December 2012, 2011 and 2010 is Rp 13,562; Rp 15,556; Rp 15,545 and
Rp 10,515, respectively.
On 30 June 2013 and 31 December 2012, 2011 and 2010, the Company and subsidiaries employed 466 staffs,
441 staffs, 404 staffs and 365 staffs (unaudited), respectively.
c. Structure of Subsidiaries
The Company through subsidiaries has direct and indirect shareholding greater than 50% in the following
subsidiaries:
Total assets before elimination
Subsidiaries
Commenc ement
Perc entage of
30 June
of operation
ow nership
2013
1999
99.50%
275,742
296,889
206,059
174,136
2004
2006
2006
2010
100.00%
98.00%
99.90%
100.00%
424,505
5,670,363
1,005,354
97,530
410,378
4,544,543
652,933
95,689
293,746
3,023,308
499,672
90,300
298,676
1,639,366
597,855
46,651
2010
2011
2013
2013
100.00%
70.03%
100.00%
100.00%
5,364,350
4,744,732
6,068,285
9,980
3,988,747
4,180,245
-*
-*
2,564,622
12,000
-*
-*
1,964,981
-*
-*
-*
PT Telenet Internusa
PT United Towerindo
and subsidiary
PT Tower Bersama and subsidiaries
PT Tower One and subsidiary
PT Triaka Bersama
PT Metric Solusi Integrasi
and subsidiary
PT Solusi Menara Indonesia
TBG Global Pte Ltd and subsidiary
PT Menara Bersama Terpadu
31 Dec ember
2012
2011
2010
*) n ot available becaus e it was n ot es tablis hed yet
All subsidiaries are domiciled in Jakarta and their address is the same as the Company’s address, except for
TBG Global Pte. Ltd., which is domiciled in Singapore.
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit E/3
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
1. GENERAL (Continued)
c. Structure of Subsidiaries (Continued)
The Company has indirect shareholdings greater than 50% in the following subsidiaries:
Subsidiaries
Ow nership of subsidiaries
Commenc ement
of operation
Perc entage of
ow nership
30 June
2013
Total assets before elimination
31 Dec ember
2012
2011
2010
PT Batavia Towerindo
PT United Towerindo
2006
89.90%
147,765
141,128
96,176
95,215
PT Prima Media Selaras
PT Tower Bersama
2003
100.00%
534,664
576,579
519,683
620,984
PT Bali Telekom
PT Tower One
2003
100.00%
596,798
561,419
408,199
506,365
PT Solu Sindo Kreasi Pratama
PT Metric Solusi Integrasi
1999
75.09%
4,583,766
3,861,752
2,437,585
1,835,429
PT Mitrayasa Sarana Informasi
PT Tower Bersama and
2004
100.00%
656,171
608,136
461,784
543,629
PT Towerindo Konvergensi
PT Tower Bersama
2009
100.00%
360,278
340,245
131,517
25,187
Tower Bersama Singapore Pte Ltd
TBG Global Pte Ltd
2012
100.00%
3,021,655
2,222
PT Solu Sindo Kreasi Pratama
-*
-*
*) n ot available becaus e it was n ot es tablis hed yet
The followings are the information about the subsidiaries.
c.1 PT Telenet Internusa
PT Telenet Internusa (“TI”) is a Limited Liability Company established in Indonesia based on the Deed of
Establishment No. 8 dated 6 September 1999, drawn up in the presence of Dr. Wiratni Ahmadi, SH, a Notary
in Bandung.
TI’s Deed of Establishment was approved by the Minister of Justice and Human Rights of the Republic of
Indonesia through Letter No. C-18566.HT.01.01.TH.2001 dated 6 November 2001 and was published in State
Gazette No.15 dated 21 February 2006, Supplement No.1896.
TI’s articles of association have been amended several times; the latest amendment was based on Deed
No. 82 dated 23 December 2010, drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in Jakarta,
regarding increasing authorized capital, issued capital and paid-up capital. This amendment has been
approved by the Ministry of Law and Human Rights through Decision Letter No. AHU-01618.AH.01.02.Tahun
2011 dated 12 January 2011
In accordance with Article 3 of TI articles of association, the scope of its activities involves services (except
services in law and tax), developments, trades, industries, mines and transportation.
c.2 PT United Towerindo and subsidiary
PT United Towerindo (“UT”) is a Limited Liability Company established in Indonesia based on the Deed of
Establishment No. 40 dated 30 June 2004, drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in
Jakarta. UT’s Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic
of Indonesia through Decision Letter No.C-18090.HT.01.01.TH.2004 dated 20 July 2004 and was published in
the State Gazette No. 40 dated 13 August 2004, Supplement No. 7930. UT articles of association have been
amended several times, the latest amendment was based on Deed No. 84 dated 23 December 2010, drawn
up in the presence of Darmawan Tjoa, SH, SE, a Notary in Jakarta, regarding increasing authorized capital,
issued capital and paid-up capital. This amendment has been approved by the Ministry of Law and Human
Rights through Decision Letter No.AHU-05395.AH.01.02.Tahun 2011 dated 1 February 2011.
In accordance with Article 3 of UT’s articles of association, the scope of its activities involves services
(except services in law and tax), developments, trades, industries, mines and transportation.
UT has a subsidiary company which is PT Batavia Towerindo.
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit E/4
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
1. GENERAL (Continued)
c. Structure of Subsidiaries (Continued)
c.3 PT Tower Bersama and subsidiaries
PT Tower Bersama (“TB”) is a Limited Liability Company established in Indonesia based on the Deed of
Establishment No. 5 dated 4 July 2006, drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in
Jakarta. TB’s Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic
of Indonesia through Decision Letter No. C-20821 HT.01.01.TH.2006 dated 17 July 2006 and was published in
the State Gazette No.104 dated 29 December 2006, Supplement No. 13530. TB’s articles of association have
been amended several times, the latest amendment was based on Deed No. 79 dated 23 December 2010,
drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in Jakarta, regarding increasing authorized
capital, issued capital and paid-up capital. This amendment has been approved by the Ministry of Law and
Human Rights through Decision Letter No.AHU-03025.AH.01.02.Tahun 2011 dated 19 January 2011.
In accordance with Article 3 of TB’s articles of association, the scope of its activities involves services
(except services in law and tax), developments, trades and industries.
TB has 3 (three) subsidiaries companies which are PT Prima Media Selaras, PT Mitrayasa Sarana Informasi and
PT Towerindo Konvergensi. PT Mitrayasa Sarana Informasi and PT Towerindo Konvergensi were acquired by
PT Tower Bersama on 8 August 2011 and 7 October 2011, respectively.
c.4 PT Tower One and subsidiary
PT Tower One (“TO”) is a Limited Liability Company established in Indonesia based on the Deed of
Establishment No. 6 dated 21 September 2006, drawn up in the presence of Angela Meilany Basiroen, SH, a
Notary in Jakarta.
TO’s Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of
Indonesia through Decision Letter No.W7-03499 HT.01.01-TH.2006 dated 8 December 2006 and was published
in the State Gazette No. 63 dated 7 August 2009, Supplement No. 21141. TO’s articles of association have
been amended several times, the latest amendment was based on Deed No. 83 dated 23 December 2010,
drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in Jakarta, regarding increasing authorized
capital, issued capital and paid-up capital. This amendment has been approved by the Ministry of Law and
Human Rights of the Republic of Indonesia through Decision Letter No. AHU-02877. AH.01.02.Tahun 2011
dated 19 January 2011.
In accordance with Article 3 of TO’s articles of association, the scope of its activities involves services
(except services in law and tax), developments, trades and industries.
TO has a subsidiary company which is PT Bali Telekom.
c.5 PT Triaka Bersama
PT Triaka Bersama (“TRB”) is a Limited Liability Company established in Indonesia based on the Deed of
Establishment No. 33 dated 15 May 2009, drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in
Jakarta. TRB’s Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic
of Indonesia through Decision Letter No. AHU-24774.AH.01.01.Tahun 2009 dated 5 June 2009 and was
published in the State Gazette No. 63 dated 7 August 2009, Supplement No. 20847. TRB’s articles of
association were last amended by the deed No. 37 dated 20 January 2012, made before Darmawan Tjoa SH,
SE, a Notary in Jakarta.
TRB’s has received the letter of acceptance notice of amandement to the data from the Ministry of Law and
Human Rights of the Republic of Indonesia through Decree No. AHU-AH.01.10-04177 dated 7 February 2012
regarding the change of the shareholders and the board.
In accordance with Article 3 of TRB’s articles of association, the scope of its activities involves services
(except services in law and tax), developments, trades and industries.
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit E/5
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
1. GENERAL (Continued)
c. Structure of Subsidiaries (Continued)
c.6
PT Metric Solusi Integrasi and subsidiary
PT Metric Solusi Integrasi (“MSI”) is a Limited Liability Company established in Indonesia based on the Deed of
Establishment No. 20 dated 12 March 2010 drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in
Jakarta. MSI’s Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of
Indonesia through Decision Letter No. AHU-13915 AH.01.01. Tahun 2010 dated 18 March 2010. MSI articles of
association have been amended several times. The latest amendment was based on Deed No. 33 dated 7 May 2012,
drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in Jakarta, regarding change of domicile of the
subsidiary. This amendment has been approved by the Ministry of Law and Human Rights of the Republic of
Indonesia through Decision Letter No. AHU-26675. AH.01.02.Tahun 2012 dated 16 May 2012.
In accordance with Article 3 of MSI’s articles of association, the scope of its activities involves services (except
services in law and tax), developments, trades and industries.
MSI has a subsidiary company which is PT Solu Sindo Kreasi Pratama.
c.7
PT Solusi Menara Indonesia
PT Solusi Menara Indonesia (“SMI”) is a Limited Liability Company established in Indonesia under the Deed of
Establishment No. 77 dated 19 December 2011, drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in
Jakarta.
SMI’s Deed of Establishment was approved by the Ministry of Law and Human of the Republic of Indonesia through
Decree No. AHU-63259.AH.01.01. Tahun 2011 dated 22 December 2011. SMI’s articles of association have been
amended based on the deed No. 37 dated 12 July 2012, drawn up in the presence of Darmawan Tjoa, SH, SE, a
Notary in Jakarta. SMI has received the letter of acceptance notice of amendment to the articles of association
from the Ministry of Law and Human Rights of the Republic of Indonesia through Decree No. AHU-AH.01.10.26063
dated 17 July 2012 regarding the increase of issued capital and paid up capital.
According to Article 3 of SMI’s articles of association, the scope of its business involves services (except services in
law and tax), developments, trades and industries.
c.8 TBG Global Pte. Ltd. and subsidiary
TBG Global Pte. Ltd. (“TBGG”) is a Limited Liability Company incorporated under the law of Republic of Singapore
based on registration number 201302879K.
TBGG has a subsidiary company which is Tower Bersama Singapore Pte. Ltd.
c.9 PT Menara Bersama Terpadu
PT Menara Bersama Terpadu (“MBT”) is a Private Limited Liability Company incorporated in Indonesia under deed
of establishment No.11 dated 8 January 2013, drawn up in the presence of Darmawan Tjoa, SH, SE, a Notary in
Jakarta. MBT's deed of establishment was approved by the Ministry of Law and Human Rights of the Republic of
Indonesia through Decree No.AHU-02685.AH.01.01.Tahun 2013 dated 25 January 2013.
According to Article 3 of MBT's articles of association, the scope of its business involves services (except services in
law and tax), developments, trades and industries.
d. Share Public Offering
On 15 October 2010, the Company received an effective statement from the Chairman of the Capital Market and
Financial Institution Supervisory Agency (BAPEPAM-LK) in its Decision Letter No. S-9402/BL/2010 to offer 551,111,000 of
its shares to the public with par value of Rp 100 (full amount) per share through the Indonesia Stock Exchange, at an
initial offering price of Rp 2,025 (full amount) per share. On 26 October 2010, those shares were listed on the Indonesia
Stock Exchange.
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit E/6
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in
Indonesia comprising of the Statements of Financial Accounting Standards (SFAS) and rules established by the Capital
Market and Financial Institution Supervisory Agency (BAPEPAM-LK) No. VIII.G.7 Attachment of chairman of BAPEPAM’s
decision No. KEP-347/BL/2012 dated 25 June 2012 regarding “Financial Statements Presentation Guidance”. Significant
accounting policies applied consistently in the preparation of the consolidated financial statements for the period of
6 (six) months ended 30 June 2013 and for the year ended 31 December 2012, 2011, and 2010 are as follows:
a. Basis of Preparation of the Consolidated Financial Statements
In conformity with SFAS No. 1, the consolidated financial statements, except for the consolidated statements of cash
flows, are prepared under accrual basis of accounting. The reporting currency used in preparing the consolidated
financial statements is in Rupiah, where the basic measurement is the concept of historical cost, except for certain
accounts, which are measured based on the explanation of the accounting policies of the respective accounts.
The consolidated statements of cash flows are prepared using the direct method by classifying cash flows on the basis
of operating, investing and financing activities.
Amounts in the consolidated financial statements are rounded to and stated in millions of Rupiah, unless otherwise
stated.
Adoption of revised SFAS, new SFAS and revised IFAS
The accounting policies adopted are consistent with the accounting policies of the fiscal year before, except from the
book in question, the company adopted the Statement of Financial Accounting Standards (SFAS) Financial Accounting
Standards and Interpretations (IFAS) new and revised that effective early on or after 1 January 2012. Changes in
accounting policies the Company has adjusted as required by the provisions of the relevant transition in SFAS and IFAS.
The impact of the Company and subsidiaries’ accounting policy changes with respect to the implementation of the new
accounting standards are not significant except for the following:
-
SFAS No. 10 (Revised 2010),”Impact of Foreign Exchange”, explains how to enter transactions in foreign currency
and foreign business activities into the financial statements of an entity and describes financial statements into a
currency reporting.
-
SFAS No. 16 (Revised 2011),”Fixed Asset”, explains the accounting treatment of fixed assets.
-
SFAS No. 24 (Revised 2010),”Post-Employee Benefits”, arranges employment accounting for employer entity.
-
SFAS No. 46 (Revised 2010),”Income Tax”, regulates the treatment of accounting for income taxes that is not set
in the previous standard.
-
SFAS No. 50 (Revised 2010),”Financial Instrument: Financial Presentation”, sets the principle of serving the
financial instruments as liabilities or equity and remove financial assets and financial liabilities.
-
SFAS No. 60, ”Financial Instrument: Financial Disclosure”, requires the entity to provide disclosures in the
financial statements that enable users to evaluate the significance of financial instruments for the entity's
financial position and performance and the type and magnitude of risks arising from financial instruments to
which the entity is exposed during the period and at the end of the year reporting, and how the entity manages
those risks.
-
IFAS No. 15, ”SFAS 24 - Asset Limits in Post- Employment Benefits, Minimum Funding Requirements and their
interaction”, applies to all the programs in post-employment benefits and other post-employment benefits.
-
IFAS No. 20, ”Income Tax - Earnings changes in the Tax Status of an entity or its shareholders”, discusses problems
regarding the tax consequences are now tax-deferred interest and due to differences in the tax status of an entity
or its shareholders will be charged in accordance with his post, if related to the statement of comprehensive
income included in statement of comprehensive income, if related to other comprehensive income (OCI) entered
in OCI or directly charged to the equity.
These Interim Consolidated Financial Statement are Originally Issued in Indonesian Language
Exhibit E/7
PT TOWER BERSAMA INFRASTRUCTURE Tbk AND SUBSIDIARIES
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
30 JUNE 2013 AND 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
AND THE PERIOD OF 6 (SIX) MONTHS ENDED 30 JUNE 2013 (AUDITED) AND 2012 (REVIEWED)
AND THE YEARS ENDED 31 DECEMBER 2012, 2011 AND 2010 (AUDITED)
(Expressed in million Rupiah, unless otherwise stated)
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
b. Principles of Consolidation
Prior 1 January 2011
The consolidated financial statements include the financial statements of the Company and subsidiaries with
more than 50% of their voting rights owned either directly or indirectly by the Company and subsidiaries as well
as Company and subsidiaries with 50% or less voting rights owned either directly or indirectly by the Company
and subsidiaries but the existence of control can be proved.
Subsidiaries are consolidated from the date on which effective control is transferred to the Company and
subsidiaries, and no longer consolidated from the date of disposal.
The balance of transactions between companies within the Company and subsidiaries, including profit (loss)
between companies within the Company and subsidiaries which has not been realized are eliminated to reflect
the actual fin