Prospektus PT Integra Indocabinet Tbk English

Effective Date June 14, 2017

Public Offering Period June 15 - 16, 2016

Allotment Date June 19, 2017

Electronic Distribution Date June 20, 2017

Subscription Fund Refund Date June 20, 2017

Listing Date on the Indonesia Stock Exchange June 21, 2017

THE OTORITAS JASA KEUANGAN (THE "OJK") NEITHER GIVES ITS APPROVAL OR DISAPPROVAL OF THE SECURITIES NOR DOES THE OJK CONFIRM THE ACCURACY OR COMPLETENESS OF THE CONTENTS OF THIS PROSPECTUS. ANY STATEMENT CONTRADICTING THE ABOVE SHALL CONSTITUTE AN UNLAWFUL ACT. THIS PROSPECTUS IS IMPORTANT AND NEEDS IMMEDIATE ATTENTION. WHEN THERE ARE DOUBTS ON THE ACTION TO BE TAKEN, PROSPECTIVE INVESTORS SHOULD SEEK PROFESSIONAL ADVICE.

PT INTEGRA INDOCABINET TBK ("THE COMPANY") AND THE JOINT LEAD UNDERWRITERS ARE FULLY RESPONSIBLE FOR THE ACCURACY OF ALL MATERIAL INFORMATION, OR FACTS, AND THE TRUTHFULNESS OF OPINIONS CONTAINED IN THIS PROSPECTUS.

PT INTEGRA INDOCABINET TBK

Main Business Activities:

Production of wooden furniture and other wooden products, forestry concessions, as well as retail and distribution of furniture and home decorations through the Group.

Domiciled in East Java, Indonesia Head Office:

Betro Village, Sedati District Sidoarjo 61253 – Indonesia

Phone: +62 31 8910434, +62 31 8910435, +62 31 8910436 Facsimile: +62 31 8911391

E-mail: corsec.integra@iil.co.id Website: www.integrafurniture.co.id INITIAL PUBLIC OFFERING

The Company is offering 1,250,000,000 new shares comprising of ordinary registered shares (the "Offering Shares"), representing 20.0% of the issued and fully paid-in capital of the Company immediately after completion of the Initial Public Offering (as defined herein), with a nominal value of Rp100 per share, that will be offered to the Public at an offering price of Rp260 per share (the "Initial Public Offering"), to be paid in full upon submission of the Share Subscription Application Form ("FPPS"). The aggregate amount to be raised in the Initial Public Offering is Rp325,000,000,000. The exercise price of the ESA Shares (as defined herein) shall be the same with the offering price.

The Offering Shares offered comprise entirely of new shares from the Company’s portfolio, and shall provide the shareholders with the same and equal rights in all matters with the other ordinary registered shares of the Company that have been issued and fully paid, including the right to receive dividend distributions, the right to cast a vote in a general meeting of the shareholders of the Company (the "Shareholders"), the right to receive bonus share distributions and preemptive rights.

Pursuant to the Deed of Minutes of the Extraordinary General Meeting of Shareholders No. 17 dated March 7, 2017, drawn up before Fathiah Helmi, S.H., a Notary in Jakarta, and Directors Decree Letter No. 006/ITG/03/2017 dated March 8, 2017, the Company adopted (a) the employee shares ownership program through the Employee Stock Allocation (the "ESA") program by allocating 0.5% of the Offering Shares representing 6,250,000 Offering Shares to its employees and (b) the Management and Employee Stock Option Program (the "MESOP") and allocated up to 3.0% of the issued and fully paid-in capital of the Company immediately after the completion of the Initial Public Offering, representing 187,500,000 shares. Further details relating to the ESA and the MESOP are set out in Chapter I of this Prospectus.

JOINT LEAD UNDERWRITERS

PT BAHANA SEKURITAS PT BCA SEKURITAS PT DBS VICKERS SEKURITAS INDONESIA

UNDERWRITERS

PT Bosowa Sekuritas ● PT Dhanawibawa Sekuritas Indonesia ● PT Erdhika Elit Sekuritas ● PT KGI Sekuritas Indonesia ● PT Magenta Kapital Sekuritas Indonesia ● PT Phillip Sekuritas Indonesia ● PT Profindo Sekuritas Indonesia ● PT Yulie Sekurindo Tbk

The Offering Shares will be listed on the Indonesia Stock Exchange (the "IDX").

The Joint Lead Underwriters and the Underwriters will fully underwrite the Company’s Initial Public Offering.

THE MAIN RISK THAT THE COMPANY IS EXPOSED TO IS RELATING TO LAWS AND REGULATIONS. A COMPLETE DESCRIPTION OF THE BUSINESS RISKS IS SET OUT IN CHAPTER VI OF THIS PROSPECTUS RELATING TO THE RISK FACTORS.

THE COMPANY WILL NOT ISSUE A COLLECTIVE SHARE CERTIFICATE IN THIS INITIAL PUBLIC OFFERING, HOWEVER, THE OFFERING SHARES WILL BE DISTRIBUTED ELECTRONICALLY AND ADMINISTERED IN THE COLLECTIVE DEPOSITORY OF PT KUSTODIAN SENTRAL EFEK INDONESIA ("KSEI").

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The Company filed a Registration Statement, in connection with the Initial Public Offering, with the OJK through letter No. 011/ITG/04/2017 dated April 5, 2017, in accordance with the requirements set out by the Law of the Republic of Indonesia No. 8 of 1995 regarding the Capital Market, Supplement No. 3608 which was published in the State Gazette of the Republic of Indonesia No. 64 of 1995, and the implementing regulations thereof (the "Capital Market Law").

The Offering Shares in this Initial Public Offering are intended to be listed on the IDX in accordance with the Securities Registration Preliminary Agreement entered into between the Company and the IDX on April 3, 2017, following the satisfaction of the securities registration requirements set by the IDX. In the event the Company fails to satisfy the registration requirements set by the IDX, the Initial Public Offering shall be null and void and the subscription funds paid will be refunded to the subscribers in accordance with the requirements under the Capital Market Law and Regulation No. IX.A.2.

All capital market supporting professionals and institutions participating in this Initial Public Offering are fully responsible for the data presented in this Prospectus to the extent of their respective roles in accordance with the prevailing laws and regulations in the Republic of Indonesia, as well as their respective codes of ethics, norms and professional standards.

Without the written approval from the Company and the Joint Lead Underwriters, no Affiliated Party (as defined herein) may provide any information or issue any statement in relation to information in connection with this Initial Public Offering that is not disclosed in this Prospectus.

All capital market supporting professionals and institutions participating in the Initial Public Offering are not Affiliated Parties of the Company, within the meaning set out in the Capital Market Law. The information on any affiliation between the capital market supporting professionals and institutions is available in Chapter XIV of this Prospectus.

PT Bahana Sekuritas, PT BCA Sekuritas and PT DBS Vickers Sekuritas Indonesia as the Joint Lead Underwriters are not directly or indirectly affiliated with the Company. The information on any affiliation between the Joint Lead Underwriters and Underwriters and the Company is available in Chapter XIV of this Prospectus.

THIS INITIAL PUBLIC OFFERING IS NOT REGISTERED UNDER ANY LAWS AND REGULATIONS OTHER THAN THOSE PREVAILING IN INDONESIA. NOTHING IN THIS PROSPECTUS OR THE OTHER DOCUMENTS PREPARED IN CONNECTION WITH THIS INITIAL PUBLIC OFFERING CONSTITUTES AN OFFER TO SUBSCRIBE FOR THE OFFERING SHARES IN ANY JURISDICTION OUTSIDE INDONESIA UNLESS SUCH OFFER DOES NOT CONTRADICT OR CONSTITUTE A VIOLATION UNDER THE PREVAILING LAWS AND REGULATIONS OF SUCH JURISDICTIONS.

THE COMPANY HAS DISCLOSED ALL INFORMATION THAT IS REQUIRED TO BE DISCLOSED TO THE PUBLIC AND THERE IS NO OTHER INFORMATION, THE OMISSION OF WHICH WOULD MAKE ANY STATEMENT IN THIS PROSPECTUS MISLEADING.

TABLE OF CONTENTS

TABLE OF CONTENTS...i

DEFINITIONS AND ABBREVIATIONS...iii

INDUSTRY TERMS... xi

COMPANY NAMES ABBREVIATION...xiii

SUMMARY... xiv

I. PUBLIC OFFERING...1

II. USE OF PROCEEDS FROM THE INITIAL PUBLIC OFFERING...8

III. STATEMENT OF INDEBTEDNESS...10

IV. KEY FINANCIAL HIGHLIGHTS...20

V. MANAGEMENT’S DISCUSSIONS AND ANALYSIS...24

VI. RISK FACTORS...47

VII. SIGNIFICANT EVENT OCCURING SUBSEQUENT TO THE DATE OF INDEPENDENT AUDITOR’S REPORT...53

VIII. DESCRIPTION OF THE COMPANY, BUSINESS ACTIVITIES, TRENDS AND PROSPECTS...54

1. BRIEFHISTORY OF THECOMPANY... 54

2. APPROVAL TOCONDUCT ANINITIALPUBLICOFFERING... 61

3. THECOMPANY’SSHAREHOLDINGDEVELOPMENT... 61

4. THECOMPANY’SSHAREHOLDERS... 63

5. ORGANIZATIONALSTRUCTURE... 67

6. THECOMPANY’SOWNERSHIPSTRUCTURE... 68

7. THECOMPANY’SASSOCIATION BYWAY OFMANAGEMENT ANDSUPERVISION... 69

8. MANAGEMENT ANDSUPERVISION OF THECOMPANY... 69

9. HUMANRESOURCES... 79

10. DESCRIPTION OFDIRECTSUBSIDIARIES ANDINDIRECTSUBSIDIARY... 87

11. LIST OF THECOMPANY’SASSETSPLEDGED ASCOLLATERAL... 120

12. AFFILIATEDTRANSACTIONS... 120

13. MATERIALTRANSACTIONS ANDAGREEMENTS WITHTHIRDPARTIES... 123

14. INSURANCE... 132

15. INTELLECTUALPROPERTYRIGHTS... 133

16. CURRENTLEGALPROCEEDINGSFACED BY THECOMPANY,THECOMPANY’SBOARD OF COMMISSIONERS ANDDIRECTORS... 133

17. BUSINESSACTIVITIES ANDPROSPECTS... 133

IX. INDUSTRY OVERVIEW...154

X. EQUITY...164

XI. DIVIDEND POLICY...165

XII. TAXATION...166

XIII. UNDERWRITING...169

XVI. INDEPENDENT AUDITOR’S REPORT AND THE COMPANY’S CONSOLIDATED FINANCIAL STATEMENTS...178

XVII. IMPORTANT PROVISIONS IN THE COMPANY’S ARTICLES OF ASSOCIATION AND OTHER IMPORTANT PROVISIONS IN RELATION TO THE SHAREHOLDERS...179

XVIII. TERMS OF SHARE SUBSCRIPTION...218

DEFINITIONS AND ABBREVIATIONS

The abbreviations and terms used in this Prospectus shall have the meaning assigned to them as described in the following table:

Abridged Prospectus Refers to the summary of the Preliminary Prospectus.

Account Holder Refers to the party whose name is registered as the holder of a securities account and/or a securities sub-account with KSEI, which may be Custodian Banks and/or Securities Companies.

Affiliate Refers to affiliates as defined under Article 1 Number 1 of the Capital

Market Law:

a. has family relationships through marriage or descent up to the second degree, horizontally and vertically;

b. is an employee, director or commissioner of such party; c. has one or more common directors or commissioners;

d. directly or indirectly, controls or is controlled by such company; e. is under common control, whether directly or indirectly; or f. is a principal shareholder of such party.

Affiliated

Parties/Companies

Refers to a party which is an Affiliate of the Company.

Allotment Confirmation Form or FKPS

Refers to the Allotment Confirmation Form under the name of a subscriber, which serves as proof of ownership of the Offering Shares sold by the Company in the Primary Market.

Allotment Confirmation Form Distribution Date

Refers to the date on which the Allotment Confirmation Forms or FKPS are distributed, which shall also be the date of the electronic distribution of the Offering Shares to the subscribers’ accounts.

Allotment Date Refers to the date agreed upon by the Company and the Joint Lead

Underwriters, which shall be no later than two Business Days following the closing of the Public Offering Period set forth in the Prospectus.

Allotment Manager Refers to the Joint Lead Underwriter which is responsible for the allotment of shares if the subscriptions of the shares exceed the number of shares offered in this Initial Public Offering, in accordance with the requirements set forth in Regulation No. IX.A.7.

Articles of Association Refers to the Company’s Deed of Establishment and Articles of Association.

Bapepam & LK Refers to the abbreviation of Badan Pengawas Pasar Modal dan

Lembaga Keuangan or the Capital Market and Financial Institution Supervisory Agency as defined in Article 3 paragraph 1 of the Capital Market Law (presently known as the OJK as defined under the

Business Day Refers to business days in Indonesia generally, excluding Saturday and Sunday, and the days determined as national holidays by the Government.

Capital Market Law or CML Refers to Law of the Republic of Indonesia No. 8 of 1995 dated November 10, 1995 relating to the Capital Market, which was published in the State Gazette of the Republic of Indonesia No. 64 of 1995, Supplement No. 3608.

Calendar Day Refers to each day in one year according to the Gregorian Calendar

with no exception, including Saturday, Sunday and national holidays which may be stipulated from time to time by the Government or an ordinary Business Day, which, as a result of certain conditions, is stipulated by the Government as a non-Business Day.

Collective Custody Refers to the custodial service of securities jointly owned by more than one party, whose interests are represented by KSEI.

Companies Law Refers to the Law of the Republic of Indonesia No. 40 of 2007 dated

August 16, 2007, relating to the Limited Liability Companies, which was published in the State Gazette of the Republic of Indonesia No. 106 of 2007, Supplement No. 4756.

Director Refers to a member of the board of directors of an entity.

E-commerce Refers to electronic commerce, which is defined as the distribution,

purchase, sale, and marketing of goods and services via electronic systems such as the Internet, websites or other computer networks.

Effective Statement Refers to the satisfaction of all requirements pertaining to the Registration Statement in accordance with the provisions of Number 4 Regulation No. IX.A.2 Annex to the Decree of Bapepam & LK Chairman Number: Kep-122/BL/2009 dated May 29, 2009, as described below:

a. on the basis of elapsed time as set forth below:

i 45 days from the date that the OJK receives the complete Registration Statement; or

ii. 45 days from the date that the last amendment filed by the Company or requested by the OJK is satisfied; or

b. on the basis of a declaration of Effective Statement from the OJK stating that no further changes and/or additional information is required.

EU Refers to the European Union.

Exchange Day Refers to every day that the IDX undertakes securities trading

transaction activities.

Government Refers to the Government of the Republic of Indonesia

Indirect Subsidiary Refers to entities which are indirectly controlled through a Subsidiary.

Indonesia Stock Exchange or the IDX

Refers to PT Bursa Efek Indonesia, a limited liability company domiciled in Jakarta, where the Company’s shares are expected to be listed.

Initial Public Offering or Public Offering

Refers to the offering of the Offering Shares by the Company to the Public, pursuant to the terms and conditions set out in the Shares Underwriting Agreement and the procedures set out in the Capital Market Law and the prevailing regulations.

Issue Refers to the share offering performed by the Company or traded to

the public through the Initial Public Offering in order to be listed and traded on the IDX.

Joint Lead Underwriters Refers to the parties responsible for the management, organization and implementation of the Initial Public Offering, which in this case shall be PT Bahana Sekuritas, PT BCA Sekuritas and PT DBS Vickers Sekuritas Indonesia.

KSEI Refers to PT Kustodian Sentral Efek Indonesia, domiciled in Jakarta, which is a Depository and Settlement Institution responsible for the administration of shares in a share offering pursuant to the Shares Registration in the Collective Depository Agreement.

Listing Date Refers to the listing date of the shares to be traded on the IDX, which

shall be a date no later than one business day after the distribution date set out in the Prospectus.

Ministry of Law and Human Rights

Refers to the Ministry of Law and Human Rights of the Republic of Indonesia (previously known as the Department of Justice and Human Rights of the Republic of Indonesia, Department of Justice of the Republic of Indonesia or Department of Law and Regulations of the Republic of Indonesia or other names).

MoLHR Refers to the Minister of Law and Human Rights of the Republic of

Indonesia (previously known as the Minister of Justice of the Republic of Indonesia, Minister of Law and Regulations and/or other names).

Offering Period Refers to the period in which the subscription of the Offering Shares

may be conducted and the FPPS may be submitted by the public to the Joint Lead Underwriters, Underwriters and/or Selling Agents set out in the Prospectus and FPPS, except in the event that such offering period is shortened, in accordance with the prevailing law and regulations.

the amount of which shall be determined and agreed by the Company and the Joint Lead Underwriters.

Offering Shares Refers to the ordinary registered shares to be offered and sold to the

Public through the Initial Public Offering, which shall be listed on the IDX.

OJK Refers to the Otoritas Jasa Keuangan, an independent institution replacing Bapepam and LK, which has the function, responsibilities and authority to regulate, supervise, examine and investigate as set out in the Law No. 21 of 2011 concerning the Financial Services Authority which duties and responsibilities include the regulation and supervision of financial service activities in banking, capital market, insurance, pension fund, public offering, financing institutions and other financial institutions.

OJK Regulation No. 7 of 2017

Refers to OJK Regulation No. 7/POJK.04/2017 in relation to the Registration Statement Documents In the Framework of Public Offering of Equity Related Securities, Debt and/or Sukuk Related Securities.

OJK Regulation No. 8 of 2017

Refers to OJK Regulation No. 8/POJK.04/2017 in relation to the Form and Contents of Prospectus and Abridged Prospectus for the Public Offering of Equity Related Securities.

OJK Regulation No. 30 of 2015

Refers to OJK Regulation No. 30/POJK.04/2015 in relation to the Report on Realization of Use of Proceeds from Public Offerings.

OJK Regulation No. 32 of 2014

Refers to OJK Regulation No. 32/POJK.04/2014 in relation to the Plan and Organization of General Meeting of Shareholders of Public Companies which has been amended to become OJK Regulation No. 10/POJK.04/2017.

OJK Regulation No. 33 of 2014

Refers to OJK Regulation No. 33/POJK.04/2014 in relation to the Directors and Board of Commissioners of Issuers or Public Companies.

OJK Regulation No. 34 of 2014

Refers to OJK Regulation No. 34/POJK.04/2014 in relation to the Nomination and Remuneration Committee of Issuers or Public Companies.

OJK Regulation No. 35 of 2014

Refers to OJK Regulation No. 35/POJK.04/2014 in relation to the Corporate Secretary of Issuers or Public Companies.

OJK Regulation No. 55 of 2015

Refers to OJK Regulation No. 55/POJK.04/2015 dated in relation to the Establishment and Working Guidelines of Audit Committee.

OJK Regulation No. 56 of 2015

Refers to OJK Regulation No. 56/POJK.04/2015 in relation to the Establishment and Working Guidelines of Audit Committee.

Option Life Refers to the period of validity for stock options which have been issued, which a holder of the stock options may exercise prior to expiry, in each exercise period determined by the Company in accordance with the prevailing laws and regulations applicable in the capital market.

Payment Date Refers to the date of payment of proceeds from the Initial Public Offering in the primary market, which shall be paid by the Underwriters to the Company through the Joint Lead Underwriters, including payment for the unsubscribed Offering Shares purchased by the Underwriters in accordance with their respective underwriting portions. Payment for the Offering Shares must be paid before the delivery of the shares. Provisions regarding these dates are set out in Bapepam-LK Regulation no. IX.A.2 in relation to the Registration Procedures for Initial Public Offering.

Preliminary Offering Refers to direct and indirect solicitation of Offering Shares using the Preliminary Prospectus immediately subsequent to the announcement of the Abridged Prospectus in the newspapers to, among others, assess the Public’s interest in the Offering Shares obtaining indications of interests for the number of Offering Shares to be subscribed based on the estimated Offering Price.

Preliminary Prospectus Refers to the written document containing all information in the Prospectus submitted to the OJK as part of the Registration Statement, except the information concerning the amount, Offering Price, underwriting or other matters in relation to the requirements of the Offering that cannot yet be determined.

Prospectus Refers to the final written document issued in relation to the Initial Public Offering for the purposes of soliciting purchases for the Offering Shares.

Public Refers to any individual, entity and/or legal entity, whether Indonesian

or foreign, whether residing or legally domiciled in or outside the Republic of Indonesia.

Public Offering Counter Refers to the venue where the Public Offering takes place during the public offering period, where prospective buyers or subscribers of the Offering Shares are able to obtain the Prospectus and FPPS and submit the completed FPPS, other than the offices of the Joint Lead Underwriters and Underwriters.

Public Offering Timetable Refers to the Initial Public Offering timetable to be collectively determined by the Company and the Joint Lead Underwriters in the Addendum to the Shares Underwriting Agreement.

whether in whole or in part, as a result of allotment, or in the event that the Initial Public Offering is postponed or canceled. Subscription funds must be returned by the Allotment Manager or selling agent to the subscribers, no later than 2 (two) working days after the allotment date or after the date of the announcement of such postponement or cancellation. Provisions regarding these dates are set out in Bapepam-LK Regulation no. IX.A.2 in relation to the Registration Procedures for Initial Public Offering.

Registration Statement Refers to the documents which must be submitted to the OJK by the Company, in relation to Initial Public Offering.

Regulation No. VIII.G.12 Refers to Bapepam Regulation Number. VIII.G.12 Annex to the Decree of Bapepam Chairman No. Kep-17/PM/2004 dated April 13, 2014, in relation to the Guidelines on Audit by Accountant on Securities Subscription and Allotment or Distribution of Bonus Shares.

Regulation No. IX.A.2 Refers to Bapepam-LK Regulation No. IX.A.2 Annex to the Decree of Bapepam-LK Chairman Number: KEP-122/BL/2009 dated May 29, 2009, in relation to the Registration Procedures of a Public Offering.

Regulation No. IX.A.7 Refers to Bapepam-LK Regulation No. IX.A.7 Annex to the Decree of Bapepam-LK Chairman Number: Kep691/BL/2011 dated December 30, 2011, in relation to the Securities Subscription and Allotment in a Public Offering.

Regulation No. IX.A.8 Refers to Bapepam & LK Regulation No. IX.A.8 Annex to the Decree of Bapepam & LK Chairman No. Kep-41/BEI/012000 dated October 27, 2000, in relation to the Preliminary Prospectus.

Regulation No. IX.E.1 Refers to Bapepam-LK Regulation No. IX.E.1 Annex to the Decree of Bapepam-LK Chairman Number: Kep-412/BL/2009 dated November 25, 2009, in relation to the Affiliated Transactions and Conflict of Interest on Certain Transactions.

Regulation No. IX.E.2 Refers to Bapepam-LK Regulation No. IX.E.2 Annex to the Decree of Bapepam-LK Chairman Number: Kep-614/BL/2011 dated November 25, 2009, in relation to Material Transactions and Changes of Main Business Activities.

Regulation No. IX.J.1 Refers to Bapepam-LK Regulation No. IX.J.1 Annex to the Decree of Bapepam-LK Chairman Number: Kep-179/BL/2008 dated May 14, 2008, in relation to the Main Provisions of Articles of Association of Companies Conducting Equity Securities Public Offering and Public Companies.

Rupiah or Rp Refers to Indonesian Rupiah, the lawful currency of the Republic of

Indonesia.

Application List or DPPS Offering Shares and the amount of Offering Shares subscribed, prepared based on the Share Subscription Application Form prepared by each of the Selling Agents and/or Underwriters based on the order of subscriptions.

Share Registrar Refers to the party appointed by the Company to undertake the

administration of the Offering Shares in this Initial Public Offering, which for this purpose shall be PT Datindo Entrycom, domiciled in Jakarta.

Share Subscription Application Form or FPPS

Refers to the original Share Subscription Application Form which shall be made in five copies, each of which shall be completely filled in, signed by the prospective buyers or subscribers and submitted by the prospective buyers or subscribers to the Selling Agents and/or Underwriters to subscribe for the Offering Shares.

Shareholder Register or SR Refers to the shareholder register issued by KSEI, which contains information in relation to the share ownership administered in the Collective Depository at KSEI based on the data provided by the Account Holders to KSEI.

Shares Underwriting Agreement

Refers to the Deed of the Company’s Shares Underwriting Agreement No. 64 dated March 23, 2017, read together with Amendment I of the Shares Underwriting Agreement of the Company’s Public Offering No. 1 dated May 2, 2017 and Amendment II of the Shares Underwriting Agreement of the Company’s Public Offering No. ● dated June 8, 2017, all drawn up before Fathiah Helmi, S.H., a Notary in Jakarta.

Subsidiary Refers to an entity (i) which is the Company owns more than 50.0%

(fifty percent) of either directly or indirectly; and (ii) whose financial statements are consolidated with the Company based on the Indonesian Generally Accepted Accounting Principles (“PSAK”).

The Company Refers to PT Integra Indocabinet Tbk

UMR Refers toUpah Minimum Regional,or Regional Minimum Wage

Underwriters Refers to limited liability companies entering into an agreement with

the Company to undertake the Initial Public Offering on behalf of the Company, to fully underwrite the sale of the Offering Shares and undertake the payment of proceeds from the Initial Public Offering to the Company through the Joint Lead Underwriters in accordance with their respective underwriting portions, with due considerations to the terms and conditions set forth in Article 5 paragraph (2) and Article 12 paragraph (2) of the Shares Underwriting Agreement.

Vesting Period Refers to the vesting period which commences from the issuance of the stock options, whereby during the vesting period the holders of the stock options are not able to exercise their stock options until the end of the vesting period.

Written Confirmation Refers to the confirmation letter on share ownership issued by KSEI and/or Custodian Banks and/or Securities Company (which in this case shall be the Joint Lead Underwriters or Underwriters or Selling Agents) for the benefit of the Account Holders in the Secondary Market.

INDUSTRY TERMS

Case goods Refers to furniture with compartments for storage.

Dry sawn timber Refers to sawn timber that has been dried in the kiln dry drying process.

FLEGT Refers to the Forest Law Enforcement, Governance and Trade, a EU

body that enforces laws/regulations on forest products Governance and Trade with the objective of combating illegal logging.

FSC Refers to the Forest Stewardship Council, an international non-profit organization dedicated to promote responsible and eco-friendly forest management. The FSC does this by setting standards on forest products, along with certifying and labeling forest products as eco-friendly.

Gesso Refers to a white paint mixture consisting of a binder mixed with chalk,

gypsum, pigment, or any combination of these. It is used to coat surfaces as an absorbent primer coat substrate for painting.

Kiln dry Refers to the timber drying system used to reduce moisture in wood.

Saw mill Refers to the facility where sawing of timber log is performed.

Sawn timber Refers to sawn timber logs.

SVLK Refers to theSistem Verifikasi Legalitas Kayu(the "SVLK") or Timber Legality Assurance Verification System, a tracking system designed on a multi-stakeholders basis to ensure the legality of sources of wood that are distributed and traded in Indonesia, to ensure the wood and the wood materials are sourced from or originated from sources with origin and management in satisfaction of legal requirements.

The Global Forest and Trade Network ( the "GFTN")

Refers to one of the leading initiatives by the World Wildlife Fund (the "WWF"), a leading organization in wildlife conservation and endangered species, to combat illegal logging and drive improvements in forest management while transforming the global marketplace into a force for saving the world’s forests.

Tropical Forest Trust (the "TFT")

Refers to an organization based in the United States of America, which assists its member firms to manage their production and supply chain processes, particularly in the aspect of raw material supply, in an eco-friendly manner. TFT also cooperates with various suppliers, Non-Governmental Organizations (the "NGOs") and regulators to resolve various complicated issues.

Wet sawn timber Refers to sawn timber that is not yet been dried in the kiln dry drying process.

COMPANY NAMES ABBREVIATION

AMS PT Alam Mentari Sejahtera

Belayan PT Belayan River Timber

DEU PT Duta Emerald Utama

IIL PT Integra Indo Lestari

The Group All companies included in the Company’s business, including Direct

Subsidiaries and Indirect Subsidiary

ISA PT Intergreen Sinergy Alam

Integriya PT Integriya Dekorindo

Intera PT Intera Indonesia

Interkayu PT Interkayu Mandiri

Interkraft PT Interkraft

Intertrend PT Intertrend Utama

Narkata PT Narkata Rimba

SMA PT Sinergy Mentari Alam

SUMMARY

The following summary is prepared based on the facts and judgments that are considered material by the Company, which constitutes an integral part of this Prospectus and should be read together with other information, including the consolidated financial statements and notes to the consolidated financial statements of the Company in this Prospectus. The Company’s financial information is prepared in Rupiah and in accordance with Financial Accounting Standards in Indonesia.

1. BRIEF HISTORY OF THE COMPANY

The Company was established under the name of PT Integra Indocabinet pursuant to the Deed of Establishment of the Limited Liability Company PT Integra Indocabinet No. 147 dated May 19, 1989, drawn up before Soetjpto, S.H., a Notary in Surabaya, which was approved by the MoLHR of the Republic of Indonesia by Decree No. C2-320.HT.01.01.TH.90 dated January 20, 1990, and registered in the registry of the Surabaya District Court under No. 180/1990 dated February 21, 1990 (the "Deed of Establishment").

The Company’s Articles of Association has been amended several times to conform to the Companies Law, as set out in the Deed of Minutes of Extraordinary General Meeting of Shareholders of PT Integra Indocabinet No. 2 dated May 5, 2008, which was drawn up before Choiriyah, S.H., a Notary in Sidoarjo, and approved by the MoLHR of the Republic of Indonesia (by Decree No. AHU-47493.AH.01.02.Tahun 2008 dated August 4, 2008, and registered in the Company Register in accordance with the Companies Law under No. AHU-0066588.AH.01.09.Tahun 2008 dated August 4, 2008 (the "Deed No. 2/2008"). The latest amendment to the Company’s Articles of Association was as set out in the Deed of Minutes of Extraordinary General Meeting of Shareholders of PT Integra Indocabinet No. 17 dated March 7, 2017, which was drawn up before Fathiah Helmi, S.H., a Notary in Jakarta, and (i) approved by the MoLHR by Decree No. AHU-0005787.AH.01.02.TAHUN 2017 dated March 8, 2017, and (ii) received and registered in the database of the Legal Entity Administration System of the Ministry of Law and Human Rights each under No. AHU-AH.01.03-0116016 (for the amendment of the Company’s Articles of Association) and No. AHU-AH.01.03-0116017 for the change of information/ particulars of the Company dated March 8, 2017, and which was registered in the Company Register under No. AHU-0005787.AH.01.02.TAHUN 2017 dated March 8, 2017, and among others, set out the approval of the Shareholders on (i) the amendment of the Articles of Association in its entirety to conform to the prevailing capital markets laws and regulations; (ii) the change of the Company’s status from a private company to a public company; (iii) the issuance of new shares from portfolio to be offered to the Public in the public offering; (iv) the issuance of new shares from the Company’s portfolio issued to the Public including the allocation of new shares in the Company to be issued under the ESA program and (v) the issuance of new shares pursuant to the implementation of the MESOP (the "Deed No. 17/2017"). The Group commenced operations with the establishment of PT Integra Indocabinet in 1989. The Company initially produced wooden and plastic CD racks that were exported to the US. With its growing experience in the production process, the Company invested in machinery to produce simple furniture and its business grew rapidly. In 1993, the Company established Intertrend, to serve the high growth market of outdoor furniture, and subsequently established Interkraft in 2002 in response to the high demand for fully-assembled and case goods furniture. To secure its raw materials sources, the Company decided to invest in the forestry concession business by acquiring Belayan and Narkata in 2012 and 2011. In 2012, the Company established Intera to produce wooden building components and rattan-based furniture. After considering the business prospects of the retail furniture industry in Indonesia, the Company established Integriya in 2013 to operate its furniture retail and distribution

activities for the domestic market. In 2015, the Company together with WoodOne International Ltd established an Indirect Subsidiary, WII, through a Subsidiary Interkayu to engage in the business of wooden door production.

Currently, the Company is one of the largest integrated wooden products manufacturers in Indonesia. The Group is based in Sidoarjo, East Java, and consists of eight companies, which includes five manufacturing companies, one distribution company, and two forestry concession companies. The Group is vertically integrated, with both raw material sourcing and manufacturing business arms.

2. BUSINESS ACTIVITIES

Pursuant to the provisions of Article 3 of Deed No. 17/2017, the Company’s aims and objectives are to engage in industrial, trade and service businesses.

In order to achieve the aforementioned aims and objectives, the Company may carry out the following business activities:

Main Business Activities:

1. To engage in industrial activities, including among others, the furniture, wood, and cork product business, the bamboo and rattan wickerwork business as well as other similar businesses.

2. To:

-(a) engage in trade, including export-import and domestic, of products produced independently or by other parties that are marketed by the Company;

(b) act as a wholesaler, purveyor, supplier, franchisee, commission house and other related business activities;

(c) act as a distributor, agent and representative of other domestic and international enterprises; and

(d) trade of the industrial products referred to above. 3. To provide services, except for legal and tax services.

Supporting Business Activities:

Creative business activities relating to graphic design, interior design, product design, industrial design, corporate identity consulting, market research as well as packaging services.

Current Main Business Activities:

The Company is currently focused on the production of wooden furniture and other wooden products, forestry concession, furniture distribution as well as home decorations through the Group.

Competitive Advantages

The Company believes that it has certain advantages that may help it to compete for a bigger market share. Some of these competitive advantages are as follows:

1. An integrated business spanning forestry concession, furniture production as well as retail and distribution;

4. Support from shareholders and an experienced management team; 5. Vast marketing network and strong relationships with customers; 6. Access to supply of raw materials.

Further information in relation to the competitive advantages is presented in Chapter IX of this Prospectus.

Business Competition

Based on data issued by Statistics Indonesia (the "Badan Pusat Statistik"), there were approximately 965 wooden furniture manufacturers in Indonesia in 2014. Out of these 965 wooden furniture manufacturers, approximately 263 or 27.3% could be categorized as large scale manufacturers with total production facilities areas of more than 2.5 hectares and production capacities of more than 10 containers per month. The above data indicates that the wooden furniture manufacturing sector in Indonesia is very large and fragmented, with many small-scale production facilities supporting the need of local communities and rural areas. (Source: Euromonitor International Limited, Manufacturing and Distribution of Wooden Furniture and Building Components, March 2017).

Based on Euromonitor International Limited (“Euromonitor”)’s report which was issued in March 2017, the Group had the highest market share in the furniture manufacturing industry in Indonesia.

Business Strategies

The Company aims to improve synergies among Subsidiaries and secure available market opportunities. The Company’s business strategies are, among others:

1. Increasing raw material uptake through the Company’s forestry concessions; 2. Optimization of production processes;

3. Development of retail and distribution networks.

Business Trends and Prospects

According to the World Bank, the Indonesian economy continues to demonstrate its strength, with a projected GDP growth of 5.1% in 2016. Private consumption and public capital expenditures are projected to be the main drivers of the Indonesian economy in 2016. Continuous policy reform may help ease the impact of declining global demand and money market volatility. Faced with a persistent downturn in the commodity sector, Indonesia has an opportunity to develop its production and service sectors. The World Bank projected a GDP growth of 5.3% in 2017, while private consumption is estimated to increase slightly.

The increase in consumer spending is primarily driven by the growing middle-class. Based on data from Badan Pusat Statistik and Euromonitor’s report, Indonesian consumers have increased their annual spending on furniture, furnishings, carpets and other floor coverings from Rp16,070.2 billion in 2014 to Rp17,891.1 billion in 2016. Euromonitor also estimated that the Indonesian consumer expenditure on furniture and furnishings, carpets and other floor coverings will increase to Rp21,012.4 billion in 2020, driven by the increase in affluent middle-class households, rapid urbanization and low-cost government housing projects.

The US is one of the largest markets for the Company’s products. Based on data from Euromonitor, US consumer expenditure on furniture and furnishings, carpets and other floor coverings continues to

increase, with a compounded annual growth rate of 3.6% from 2014 to 2016. The 3.6% growth in 2016 from the previous year is a positive indicator for household expenditure in the US. The sustainable growth over the historical period suggests that the US working class population is paying attention to their homes and frequently remodeling the interiors of their homes.

Based on the report from Euromonitor, consumer expenditure on wooden furniture in the US grew from USD48.5 billion in 2014 to USD53.1 billion in 2016. This USD53.1 billion expenditure on wooden furniture represented more than half of the total expenditure on furniture of USD87.8 billion recorded in 2016, illustrating the popularity of wood as the material of choice for furniture among US consumers. The popularity of wooden furniture among consumers in the US is a trend which is expected to gain further traction going forward. The expected increase in expenditure on wooden furniture is attributed to the strengthening demand for housing, rise in residential construction activities and discretionary spending increases. Based on Euromonitor’s research, interior designers and consumers alike are opting for wooden furnishing items for a classier natural look. The US consumers do not look at furniture as a long term investment or something to be kept as an antique. They tend to conduct frequent remodeling and change the décor of their homes.

Further information in relation to business prospects is presented in Chapter VIII of this Prospectus.

3. DESCRIPTION OF SIGNIFICANT SUBSIDIARIES

As of the date of this Prospectus, the Company owns seven Subsidiaries with an interest of more than 50.0%, as follows:

No Subsidiary Line of Business Percentage of Ownership Year of Initial Investment Location of Operations Operational Information

1. Intertrend Industrial and trade of industrial products 99.0% direct ownership by the Company 2012 Sidoardjo, East Java Operating

2. Interkraft Trade, development, mining, industrial, agriculture, transportation, printing and services 99.0% direct ownership by the Company 2012 Sidoardjo, East Java Operating

3. Interkayu Services 80.0% direct ownership by the Company

2015 Sidoardjo, East Java

Operating

4. Belayan Forestry, industrial, trade, import and agency 99.0% direct ownership by the Company 2012 Samarinda, East Kalimantan Operating

5. Narkata Forestry, industrial, trade, import and agency 99.0% direct ownership by the Company 2011 Samarinda, East Kalimantan Operating

6. Intera Industrial, services, trade, development, transportation, agriculture, livestock, fishery, plantation, forestry and mining

99.0% direct ownership by the Company 2012 Sidoardjo, East Java Operating

7. Integriya Trade and services 99.0%direct ownership by the Company

2013 Sidoardjo, East Java

Total Offering Shares : 1,250,000,000 Offering Shares, or 20.0% of the Company’s issued and fully paid-in capital immediately following the completion of the Initial Public Offering

Nominal Value : Rp100

Offering Price : Rp260 per Offering Share, which shall be paid in full upon submission of the FPPS

Total Public Offering : Rp325,000,000,000 Estimated Offering Period : June 15 - 16, 2017 Estimated Listing Date on the

IDX

: June 21, 2017

The Company hereby conducts an Initial Public Offering of 1,250,000,000 Offering Shares consisting of new ordinary registered shares, representing 20.0% of its issued and fully paid-in capital immediately following the completion of the Initial Public Offering, with a nominal value of Rp100 per Offering Share, that will be offered to the public at an Offering Price of Rp260 per Offering Share, to be paid in full upon submission of the FPPS. The aggregate amount to be raised in the Initial Public Offering is Rp325,000,000,000.

Pursuant to the Deed of Minutes of the Extraordinary General Meeting of Shareholders of PT Integra Indocabinet No. 13 dated September 7, 2016, drawn up before Dina Chozie, S.H., substitute of Fathiah Helmi, S.H., a Notary in Jakarta, the Company’s latest capital structure and shareholder composition as of the date of this Prospectus are as follows:

Share capital

comprising of ordinary registered shares with a nominal value of Rp100 per share

Description Number of Shares Total Nominal Value (Rp) % Authorized Capital 20,000,000,000 2,000,000,000,000 Issued and Fully paid-in capital

- PT Integra Indo Lestari 4,956,950,000 495,695,000,000 99.14

- PT Sinergy Mentari Alam 43,050,000 4,305,000,000 0.86

Total Issued and Fully paid-in capital 5,000,000,000 500,000,000,000 100.00

Shares in Portfolio 15,000,000,000 1,500,000,000,000

-Upon subscription of all the Offering Shares offered by the Company in this Initial Public Offering, the Company’s capital structure and shareholder composition prior to and immediately following the completion of the Initial Public Offering on a pro forma basis shall be as follows:

Share capital

comprising of ordinary registered shares with a nominal value of Rp100 per share

Description

Prior to the Initial Public Offering Subsequent to the Initial Public Offering Number of

Shares

Total Nominal Value

(Rp) %

Number of Shares

Total Nominal Value

(Rp) %

Authorized Capital 20,000,000,000 2,000,000,000,000 20,000,000,000 2,000,000,000,000 Issued and Fully paid-in capital

- PT Integra Indo Lestari 4,956,950,000 495,695,000,000 99.14 4,956,950,000 495,695,000,000 79.31 - PT Sinergi Mentari Alam 43,050,000 4,305,000,000 0.86 43,050,000 4,305,000,000 0.69

- Public * - - - 1,250,000,000 125,000,000,000 20.00

Total Issued and Fully paid-in capital

Description

Prior to the Initial Public Offering Subsequent to the Initial Public Offering Number of

Shares

Total Nominal Value

(Rp) %

Number of Shares

Total Nominal Value

(Rp) %

Shares in Portfolio 15,000,000,000 1,500,000,000,000 13,750,000,000 1,375,000,000,000 * including the ESA Program

In conjunction with the listing of 1,250,000,000 Offering Shares consisting of new ordinary registered shares, the Company, on behalf of the founding Shareholders, shall also list 5,000,000,000 of the Company’s shares that were previously issued prior to the Initial Public Offering. Therefore, the total number of shares to be listed on the IDX shall be 6,250,000,000 shares, representing 100.0% of the total issued and fully paid-in capital immediately following the completion of the Initial Public Offering. In accordance with the resolution of the GMS, the Company shall implement the ESA and the MESOP.

Employee Stock Allocation (ESA) Program

Pursuant to the Deed of Minutes of the Extraordinary General Meeting of Shareholders No. 17 dated March 7, 2017, drawn up before Fathiah Helmi, S.H., a Notary in Jakarta and Regulation No. IX.A.7, it has been resolved that up to 10.0% of the number of shares offered in a public offering of shares may be allocated to the Company’s employees in a public offering of shares.

Pursuant to the Company’s Directors Decree Letter No. 006/ITG/03/2017 dated March 8, 2017, in relation to the Employee Share Ownership program through the ESA program, it has been decided that 0.5% of the Offering Shares, representing 6,250,000 Offering Shares, shall be allocated to the ESA program (the "Award Shares"). The implementation of the ESA program shall comply with the provisions set forth in Regulation No. IX.A.7. The exercise price of the Award Shares shall be the same as the Offering Price.

Under the ESA program, Award Shares shall be awarded to the Company’s qualifying employees (each an "ESA Program Participant" and collectively, the "ESA Program Participants"), the quantum which shall be determined by the Board of Directors having due consideration of the performance, contributions and roles of each ESA Program Participant to the Company. Award Shares will be awarded free of charge by the Company to all ESA Program Participants. The Award Shares are part of the Offering Shares in the Company’s Initial Public Offering.

Upon subscription of all the Offering Shares and the implementation of the ESA program in this Initial Public Offering, the Company’s capital structure and shareholder composition prior to and immediately following the completion of the Initial Public Offering on a pro forma basis shall be as follows:

Share capital

consisting of ordinary registered shares with a nominal value of Rp100 per share

Description

Prior to the Initial Public Offering Subsequent to the Initial Public Offering and ESA Program Implementation

Number of Shares

Total Nominal Value

(Rp) %

Number of Shares

Total Nominal Value

(Rp) %

Authorized Capital 20,000,000,000 2,000,000,000,000 20,000,000,000 2,000,000,000,000 Issued and Fully paid-in

capital

- PT Integra Indo Lestari 4,956,950,000 495,695,000,000 99.14 4,956,950,000 495,695,000,000 79.31 - PT Sinergi Mentari Alam 43,050,000 4,305,000,000 0.86 43,050,000 4,305,000,000 0.69

Description

Prior to the Initial Public Offering Subsequent to the Initial Public Offering and ESA_{Program Implementation} Number of

Shares

Total Nominal Value

(Rp) %

Number of Shares

Total Nominal Value

(Rp) %

Shares in Portfolio 15,000,000,000 1,500,000,000,000 13,750,000,000 1,375,000,000,000

Management and Employee Stock Option Program (MESOP)

The stock options granted to participants of the MESOP (the "Stock Options") may be exercised to purchase up to 187,500,000 shares of the Company, representing up to 3.0% of the Company’s total issued and paid-in capital following the completion of the Initial Public Offering, which shall be issued from the Company’s portfolio.

MESOP Exercise Periods

The Stock Options under the MESOP shall be issued in three phases, namely:

Phase I 30.0% of the total Stock Options to be issued under the MESOP shall be issued by no later than 60 days subsequent to the the Listing Date.

Phase II 30.0% of the total Stock Options to be issued under the MESOP shall be issued on the first anniversary of the Listing Date.

Phase III 40.0% of the total Stock Options to be issued under the MESOP shall be issued on the second anniversary of the Listing Date.

Stock Options shall be issued with an Option Life of five years commencing on the issue date, and shall be subject to a vesting period of one year commencing on the issue date.

Upon the subscription of all of the Offering Shares, and when the Award Shares are fully awarded and all the Stock Options available under the MESOP are granted and exercised, the Company’s capital structure and shareholder composition prior to and immediately following the Initial Public Offering on a pro forma basis shall be as follows:

Share capital

consisting of ordinary registered shares with a nominal value of Rp100 per share

Description

Prior to the Initial Public Offering Subsequent to the Initial Public Offering, ESA Program_{Implementation and MESOP Implementation} Number of

Shares

Total Nominal

Value (Rp) % Number of Shares

Total Nominal Value

(Rp) %

Authorized Capital 20,000,000,000 2,000,000,000,000 20,000,000,000 2,000,000,000,000 Issued and Fully paid-in capital

- PT Integra Indo Lestari 4,956,950,000 495,695,000,000 99.14 4,956,950,000 495,695,000,000 77.00 - PT Sinergi Mentari Alam 43,050,000 4,305,000,000 0.86 43,050,000 4,305,000,000 0.67

- Public - - - 1,243,750,000 124,375,000,000 19.32

- ESA Program - - - 6,250,000 625,000,000 0.10

- MESOP 187,500,000 18,750,000,000 2.91

Total Issued and Fully paid-in capital

5,000,000,000 500,000,000,000 100.00 6,437,500,000 643,750,000,000 100.00 Shares in Portfolio 15,000,000,000 1,500,000,000,000 13,562,500,000 1,356,250,000,000

Further information in relation to the ESA program and MESOP is presented in Chapter I of this Prospectus.

Proceeds from the Initial Public Offering, after deducting the aggregate estimated expenses incurred in relation to the Initial Public Offering, shall be used for the following purposes:

• Approximately 90.0% of the net proceeds from the Initial Public Offering shall be used by the Group to finance capital expenditures, namely: the procurement of machinery and equipments, the acquisition of land and the opening of retail outlets.;

• The remaining shall be used by the Group as working capital, for, among others, financing the procurement of raw materials and payment of, among others, trade payables, production costs and, marketing expenses.

Further information in relation to the Use of Proceeds is presented in Chapter II of this Prospectus.

6. RISK FACTORS

The business and general risks presented below have been prepared based on the order of significance of the impact of each risks to the Company, from the most significant to the least significant:

A. MAIN RISK WITH SIGNIFICANT IMPACT TO THE COMPANY’S BUSINESS SUSTAINABILITY

1. Risk relating to laws and regulations

B. BUSINESS RISKS

1. Risk relating to foreign exchange fluctuations for the Company; 2. Risk relating to the supply of raw materials

3. Risk relating to fire at production facilities

4. Risk relating to the increase in the regional minimum wage levels 5. Risk relating to dependence on major customers

6. Risk relating to business competition 7. Risk relating to technological advancement

C. GENERAL RISKS

1. Risk relating to macroeconomic and global economic condition 2. Risk relating to the benchmark interest rate for loans

3. Risk relating to claims or legal suits

D. RISK FACTORS FOR INVESTORS

1. Risk relating to the fluctuation of the Company’s share price

2. Risk relating to foreign exchange rate fluctuations for foreign investors 3. Risk relating to the Company’s shares liquidity

4. Risk relating to the Company ability to pay dividends 5. Risk relating to minority share ownership

Further information in relation to Risk Factors is presented in Chapter VI of this Prospectus.

7. KEY FINANCIAL HIGHLIGHTS

The following table presents the Company’s key consolidated financial highlights. The figures presented in the Company’s key consolidated financial highlights are derived from the consolidated statement of financial position as of December 31, 2016, 2015 and 2014, and the consolidated statement of profit or

audited by Teramihardja, Pradhono & Chandra (Rödl & Partner), Registered Public Accountants, with unmodified opinion and an emphasis of matter in relation to the change in the functional currency of the Company and certain Subsidiaries fromUSD to Rupiah.

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Description As of December 31

2014 2015 2016

ASSETS

Total Current Assets 714,878,444,636 1,012,072,609,385 1,327,702,268,541 Total Non-Current Assets 806,286,081,517 1,002,399,912,722 1,754,171,941,954

TOTAL ASSETS 1,521,164,526,153 2,014,472,522,107 3,081,874,210,495 LIABILITIES AND EQUITY

Total Current Liabilities 722,558,940,311 949,247,290,491 1,101,358,728,673 Total Non-Current Liabilities 202,247,213,669 358,242,003,734 550,482,499,996 Total Equity 596,358,372,173 706,983,227,882 1,430,032,981,826

TOTAL LIABILITIES AND EQUITY 1,521,164,526,153 2,014,472,522,107 3,081,874,210,495 CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME

Description For the years ended on December 31

2014 2015 2016

Net Sales 996,105,258,868 1,118,696,671,711 1,323,388,979,039 Cost of Goods Sold 836,916,693,334 876,991,059,336 865,229,995,699 Gross Profit 159,188,565,534 241,705,612,375 458,158,983,340 Profit Before Tax Benefit (Expense) 22,384,127,643 42,938,779,264 195,081,224,522 Profit for the Year 15,442,643,888 38,531,306,157 141,081,224,018 Total Other Comprehensive Income 19,277,390,875 90,512,855,709 647,991,100,057

KEY CONSOLIDATED FINANCIAL RATIOS

Description For the years ended on December 31

2014 2015 2016

Growth Ratios (%)

Net sales 15.20 12.31 18.30

Gross profit (0.31) 51.84 89.55

Profit before income tax benefit (expense) (55.48) 91.83 354.32

Profit for the year (70.29) 149.51 266.15

Comprehensive income for the year (92.74) 369.53 615.91

Operating Ratios (%)

Profit before income tax benefit (expense) to net sales 2.25 3.84 14.74 Profit before income tax benefit (expense) to total assets 1.47 2.13 6.33 Profit before income tax benefit (expense) to equity 3.75 6.07 13.64 Comprehensive income for the year to net sales 1.94 8.09 48.96 Comprehensive income for the year to total assets 1.27 4.49 21.03 Comprehensive income for the year to equity 3.23 12.80 45.31

Financial Ratios (x)

Current assets to current liabilities 0.99 1.07 1.21

Non-current liabilities to equity 0.34 0.51 0.38

Interest-bearing debt to equity 1.23 1.53 0.88

Interest-bearing debt to total assets 0.48 0.54 0.41

Total liabilities to equity 1.55 1.85 1.16

Description For the years ended on December 31

2014 2015 2016

EBITDA/interest expense on loans 2.19 2.53 3.54

Return on total assets (ROA) (%) 1.02 1.91 4.58

Return on equity (ROE) (%) 2.59 5.45 9.87

FINANCIAL RATIOS REQUIRED IN LOAN AGREEMENTS OR OTHER LIABILITIES AND THEIR COMPLIANCE

Financial Ratios Required in the Loan Agreements or Other Liabilities The Company’s Financial Ratios as of December 31, 2016

Current ratio (minimum 1x) 1.21x

Total liabilities to equity (maximum 3x) 1.16x

Debt Service Coverage Ratio (DSCR) (minimum 1x) 2.85x Gearing ratio/interest-bearing debt to equity (maximum 1.25x) 0.88x Interest Service Coverage Ratio (minimum 1x) 3.54x Receivables and inventories to total working capital (minimum 110.0%) 119..07%

8. DIVIDEND POLICY

The Company plans to distribute cash dividends at least once every year. The amount of dividend is linked to the Company’s profit for the relevant fiscal year, with due consideration given to the Company’s financial soundness and without prejudice to the rights of the shareholders in a GMS to determine otherwise in accordance with the provisions of the Company’s Articles of Association.

Any proposal, amount and payment of dividends shall be authorized by the Board of Commissioners and Directors of the Company and shall be subject to the approval of GMS. The amount of dividends is subject to a number of factors, including but not limited to, net profit, reserve availability, capital expenditure requirements, operating results and cash balance. The above factors will ultimately depend on a number of conditions, including but not limited to, the successful implementation of business and financial strategies, which are affected by competition and regulation, general economic conditions and other conditions that are specific to the Company or the Company’s business. Most of the above factors referred to above are beyond the Company’s control.

Taking into consideration the above factors, the Company’s management intends to propose to the Annual GMS to resolve that the payout ratio of cash dividends to total net profit be set at a maximum of 35.0%, effective from the fiscal year of 2017.

Further information in relation to the Company’s dividend policy is presented in Chapter XII of this Prospectus.

I.

PUBLIC OFFERING

The Company hereby conducts an Initial Public Offering of 1,250,000,000 Offering Shares, representing 20.0% of the issued and fully paid-in capital of the Company immediately after completion of the Initial Public Offering, with a nominal value of Rp100 per share, that will be offered to the Public at an Offering Price of Rp260 per share, to be paid in full upon submission of the FPPS. The aggregate amount to be raised in the Initial Public Offering is Rp325,000,000,000.

The Offering Shares comprise entirely of new ordinary registered shares from the Company’s portfolio, which when issued, shall rank pari passu in all respects with the existing issued and paid-in shares of the Company, including the right to receive dividends, the right to vote at a GMS, the right to receive bonus shares and preemptive rights.

Pursuant to the Deed of Minutes of the Extraordinary General Meeting of Shareholders of PT Integra Indocabinet No. 17 dated March 7, 2017, drawn up before Fathiah Helmi, S.H., a Notary in Jakarta, and Directors Decree Letter No. 006/ITG/03/2017 dated March 8, 2017, the Company adopted (a) the employee shares ownership program through the ESA program by allocating 0.5% of the Offering Shares representing 6,250,000 Offering Shares to its employees and (b) the MSEOP and allocated up to 3.0% of the issued and fully paid-in capital of the Company immediately after the completion of the Initial Public Offering, representing 187,500,000 shares.

PT INTEGRA INDOCABINET TBK

Main Business Activities:

Production of wooden furniture and other wooden products, forestry concessions, as well as retail and distribution of furniture and home decorations through the Group.

Domiciled in East Java, Indonesia

Head Office:

Betro Village, Sedati District Sidoarjo 61253 – Indonesia

Phone: +62 31 8910434, +62 31 8910435, +62 31 8910436 Facsimile: +62 31 8911391

E-mail: corsec.integra@iil.co.id Website: www.integrafurniture.co.id

THE MAIN RISK THAT THE COMPANY IS EXPOSED TO IS RELATING TO LAWS AND REGULATIONS. A COMPLETE DESCRIPTION OF THE BUSINESS RISKS IS SET OUT IN CHAPTER VI OF THIS PROSPECTUS RELATING TO THE RISK FACTORS.

THE COMPANY WILL NOT ISSUE A COLLECTIVE SHARE CERTIFICATE IN THIS INITIAL PUBLIC OFFERING, HOWEVER, THE OFFERING SHARES WILL BE DISTRIBUTED

ELECTRONICALLY AND ADMINISTERED IN THE COLLECTIVE DEPOSITORY OF PT KUSTODIAN SENTRAL EFEK INDONESIA ("KSEI").

THE COMPANY CANNOT GUARANTEE THAT THERE WILL BE AN ACTIVE TRADING MARKET FOR ITS SHARES OR THAT THE LIQUIDITY OF THE SHARES WOULD BE SUSTAINED. THERE IS THEREFORE A RISK THAT THERE WILL NOT BE A LIQUID MARKET FOR THE OFFERING SHARES.

Capital Structure and Shareholder composition

Pursuant to the Deed of Minutes of the Extraordinary General Meeting of Shareholders of PT Integra Indocabinet No. 13 dated September 7, 2016, drawn up before Dina Chozie, S.H., substitute of Fathiah Helmi, S.H., a Notary in Jakarta, the Company’s latest capital structure and shareholder composition as of the date of this Prospectus are as follows:

Share capital

comprising of ordinary registered shares with a nominal value of Rp100 per share

Description Number of Shares Total Nominal Value (Rp) % Authorized Capital 20,000,000,000 2,000,000,000,000

Issued and Fully paid-in capital

- PT Integra Indo Lestari 4,956,950,000 495,695,000,000 99.14

- PT Sinergi Mentari Alam 43,050,000 4,305,000,000 0.86

Total Issued and Fully paid-in capital 5,000,000,000 500,000,000,000 100.00 Shares in Portfolio 15,000,000,000 1,500,000,000,000

Public Offering

Upon subscription of all the Offering Shares offered by the Company in this Initial Public Offering, the Company’s capital structure and shareholder composition prior to and immediately following the completion of the Initial Public Offering on a pro forma basis shall be as follows:

Share capital

comprising of ordinary registered shares with a nominal value of Rp100 per share

Description

Prior to the Initial Public Offering Subsequent to the Initial Public Offering Number of

Shares

Total Nominal Value (Rp) %

Number of Shares

Total Nominal Value

(Rp) %

Authorized Capital 20,000,000,000 2,000,000,000,000 20,000,000,000 2,000,000,000,000 Issued and Fully paid-in capital

- PT Integra Indo Lestari 4,956,950,000 495,695,000,000 99.14 4,956,950,000 495,695,000,000 79.31 - PT Sinergi Mentari Alam 43,050,000 4,305,000,000 0.86 43,050,000 4,305,000,000 0.69

- Public * - - - 1,250,000,000 125,000,000,000 20.00

Total Issued and Fully paid-in capital 5,000,000,000 500,000,000,000 100.00 6,250,000,000 625,000,000,000 100.00 Shares in Portfolio 15,000,000,000 1,500,000,000,000 13,750,000,000 1,375,000,000,000

*including the ESA Program

In accordance with the resolution of the GMS, the Company shall implement the ESA program and the MESOP.

A. ESA

Pursuant to the Deed of Minutes of the Extraordinary General Meeting of Shareholders No. 17 dated March 7, 2017, drawn up before Fathiah Helmi, S.H., a Notary in Jakarta and Regulation No. IX.A.7, it has been resolved that up to 10.0% Offering Shares may be allocated to the Company’s employees in a public offering of shares.

Pursuant to the Company’s Directors Decree Letter No. 006/ITG/03/2017 dated March 8, 2017, in relation to the Employee Share Ownership Program through the ESA program, it has been decided that 0.5% of the Offering Shares, representing 6,250,000 shares, shall be allocated the ESA program as Award Shares. The implementation of the ESA program shall comply with the provisions set forth in Regulation No. IX.A.7. The exercise price of the Award Shares shall be the same as the Offering Price. Under the ESA program, Award Shares shall be awarded to ESA Program Participants, the quantum OF which shall be determined by the Board of Directors having given due consideration to the performance, contributions and roles of each ESA Program Participant to the Company. Award Shares will be awarded free of charge by the Company to all ESA Program Participants. The Award Shares are part of the Offering Shares in the Company’s Initial Public Offering.

The main objectives of the ESA program are as follows:

1. to instill a sense of belonging and loyalty amongst the Company’s employees; 2. to encourage employees to participate in improving the Company’s performance;

3. to promote work productivity, maintain work discipline and to set a good example to new employees; and

4. to maintain the Company’s work values and culture.

ESA Program Participant

Employees who satisfy the following criteria are eligible to participate in the ESA program:

- employees holding certain positions, as determined by the Company;

- employees who have been actively employed up to the date of the Effective Statement from the OJK on the Company’s Initial Public Offering Registration Statement.

- employees who have achieved certain performance targets in accordance with the performance evaluation standards set by the Company; and

- employees who are not subject to any administrative sanction following the implementation, and during the course of, the ESA program.

A total number of up to 451 employees of the Group will be included in the ESA program. The subscription and payment of ESA shares will be made by the Company during the offering period in accordance with the schedule of the Company’s Initial Public Offering. The parties for the administration of the ESA program are the human resources division, the finance division and the corporate secretary.

ESA Program Terms and Conditions

1. The ESA program shall be administered in conjunction with the Company’s Initial Public Offering. 2. The terms and conditions of the ESA program are as follows:

a. Award Shares shall be granted to all ESA Program Participants who have satisfied the criteria set forth in point A.3 of the decision letter, and shall be granted in the name of each participants. b. The Award Shares allocation shall be based on the salary, position and number of years of

service, performance of the ESA Program Participants.

d. If an employee resigns or is terminated during the lock-up period, his/her rights over the Award Shares shall be void.

e. If participating employees are subject to administrative sanctions during the lock-up period, their rights over the Award Shares shall be void and such rights shall be available for allocation to other eligible participants.

f. The Award Shares shall be granted free of charge to the ESA Program Participants.

Shares acquired by employees pursuant to the ESA program shall have the same and equal rights as the Company’s other shareholders. Such rights include:

a. Attending and voting at a GMS;

b. Participating in the distribution of the residual assets of the Company in the event of its liquidation; c. Exercising other rights in accordance with the Companies Law.

The cost related to the ESA program shall be recognized as the Company’s expenses, the amount of which shall be equal to the total price of all Award Shares in the ESA program. Costs incurred with respect to the ESA program shall be borne by the Company and financed using the Company’s cash reserves.

- The allocated costs of Award Shares shall be 6,250,000 shares, which is calculated based on the Offering Price of Rp260 per share or a total of Rp1,625,000,000. Income tax on Award Shares shall be imposed in accordance with the prevailing tax regulations.

Upon subscription of all the Offering Shares and the implementation of the ESA program in this Initial Public Offering, the Company’s capital structure and shareholder composition prior to and immediately following the completion of the Initial Public Offering on a pro forma basis shall be as follows:

Share capital

consisting of ordinary registered shares with a nominal value of Rp100 per share

Description

Prior to the Initial Public Offering Subsequent to the Initial Public Offering and ESA_{Program Implementation} Number of

Shares

Total Nominal

Value (Rp) % Number of Shares

Total Nominal Value

(Rp) %

Authorized Capital 20,000,000,000 2,000,000,000,000 20,000,000,000 2,000,000,000,000 Issued and Fully paid-in capital

- PT Integra Indo Lestari 4,956,950,000 495,695,000,000 99.14 4,956,950,000 495,695,000,000 79.31 - PT Sinergi Mentari Alam 43,050,000 4,305,000,000 0.86 43,050,000 4,305,000,000 0.69

- Public - - - 1,243,750,000 124,375,000,000 19.90

- ESA Program - - - 6,250,000 625,000,000 0.10

Total Issued and Fully paid-in capital

5,000,000,000 500,000,000,000 100.00 6,250,000,000 625,000,000,000 100.00 Shares in Portfolio 15,000,000,000 1,500,000,000,000 13,750,000,000 1,375,000,000,000

The ESA program shall be administered in conjunction with the Company’s Initial Public Offering and the ESA Program Participants shall be obligated to sign and agree with the terms and conditions of the ESA program.

Tax Aspects of the ESA Program

The costs of the ESA program represent the remuneration received by the ESA Program Participants, and therefore shall be subject to Income Tax Article 21, which shall be imposed on the ESA Program Participants.

1. If, upon exclusion of the Securities subscribers referred to in Regulation No. IX.A.7 and there are remaining shares which total is equal or higher than the amount subscribed, then:

a) the subscribers who are not excluded shall receive all the subscribed shares; and

b) In the event that the subscribers who are not excluded have received full allotment and there are remaining shares available, such remaining shares shall be distributed proportionally to the subscribers, who are:

a. Directors, Commissioners, employees, or Parties holding 20.0% or more of the shares in a Securities Company acting as Underwriter or Selling Agent with respect to the Initial Public Offering;

b. The Company’s Directors, Commissioners and/or majority shareholders; or

c. Affiliates of the Parties referred to in point a) and b), which are not the Parties that subscribe shares on behalf of third parties.

according to the amount subscribed by the subscribers.

2. If, upon exclusion of the Securities subscribers referred to in Regulation No. IX.A.7 and there are remaining shares which total is lower the amount subscribed, then the allotment for subscribers who are not excluded shall follow the following requirements:

a) In the event that such shares will not be listed on the IDX, such shares shall be allocated proportionally in accordance with the amount subscribed by the subscribers without fraction; or

b) In the event that such shares shall be listed on the IDX, such shares shall be allocated in accordance with the following requirements:

(1) The subscribers who are not excluded shall be entitled to one unit of trading at the IDX, if there is sufficient units of trading available. In the event of insufficient units available, the available units of trading shall be allocated by way of lottery. The number of shares included in the unit of trading referred to above shall be the highest full unit of trading determined by the IDX where the shares are listed; and

(2) If, there are remaining shares available, then after one unit of trading is allocated to subscribers who are not excluded, allocation shall be performed proportionally, in the unit of trading according to the amount subscribed by the subscribers.

The Allotment Manager shall submit the Accountant Audit Report to the OJK concerning the fairness of the allotment with reference to Regulation No. VII.G.12 and Regulation No. IX.A.7.

The Company shall submit the Initial Public Offering Proceeds Report to the OJK by no later than five Business Days subsequent to the allotment date in accordance with Regulation No. IX.A.2, supported by the Allotment Report as set out in Regulation No. IX.A.7.

In the event of oversubscription of Securities and it is proven that certain parties have submitted Securities subscriptions through more than one subscription form for each Initial Public Offering, whether directly or indirectly, then, for the purpose of allotment, the Allotment Manager shall include only one Securities subscription form that is first submitted by the concerned subscribers.

13. Postponement of Public Offering Period or Cancellation of Public Offering

In accordance with Regulation No. IX.A.2 and the Deed of Securities Underwriting Agreement, within the period from the Effectiveness of the Registration Statement up to the end of the Initial Public Offering Period, the Company may postpone the Initial Public Offering Period up to a maximum of three months subsequent to the Effectiveness of the Registration Statement or cancel the Initial Public Offering provided that the following conditions beyond the Company’s control and power occur:

ii. Natural disasters, war, riots, fire, strikes which significantly affect the Company’s going concern; and/or iii. Other events that have significant effect to the Company’s business continuity as set out by the OJK

based on the Form set out in Regulation No. IX.A.2

Should there be a postponement of the Public Offering Period or cancellation of the Initial Public Offering, the Company shall comply with the following provisions:

a. Announce the postponement of the Public Offering period or the cancellation of the Public Offering in at least one Indonesian language daily newspaper which has national circulation no later than one Business Day after such delay or cancellation. In addition to the obligation to publish in a newspaper, the Company may also publish such information in other mass media;

b. Submit the information regarding the postponement of the Public Offering period or the cancellation of such Public Offering to OJK on the same day as the announcement referred to in point a;

c. Submit proof of announcement as referred to in point a to OJK no later than one working day after the announcement; and

d. The Company which postpones the Public Offering period or cancel the Public Offering which is being conducted, in the event that the payment for the shares subscription has been made, the Company shall refund such payment to the subscriber no later than 2 (two) working days from the decision of such postponement or cancellation.

The Company which postpones due to the decline of the composite stock price index on the Stock Exchange fell by more than 10.0% (ten percent) for three consecutive Exchange Days, the following provisions will apply should the Company wants toresume the Public Offering period:

a. The Company shall start over the Public Offering period no later than eight working days after the composite stock price index on the Stock Exchange has increased by at least 50.0% (fifty percent) of the total decrease in the composite stock price index on which the delay is based;

b. In the event that the composite stock price index on the Stock Exchange declines again by more than 10.0% (ten percent) for three consecutive Exchange Days, the Company may postpone the Public Offering period again;

c. Shall convey to OJK the information regarding the Public Offering schedule and other supplementary information, including information on material events which occur after the postponement of the Public Offering period (if any) and announce it in at least one Indonesian language daily newspaper which has national circulation in one working day at the latest prior to the commencement of the Public Offering period. In addition to the obligation to publish in a newspaper, the Company may also publish such information in other mass media; and

d. Shall submit proof of announcement as referred to in point c to OJK no later than one working day after the announcement.

14. Refund of Subscription

a. With due considerations to Regulation IX.A.2, in the event that the subscriptions of Securities are rejected in whole or in part, or in the event of cancellation of the Public Offering, and such Securities subscriptions have been paid, then the Joint Lead Underwriters shall be individually responsible and obligated to refund the excess subscription fund to the subscribers and

subscriber or by other payment instruments in the form of check orbilyet girothat may be collected directly by the concerned subscribers from the Underwriters where the subscriptions are submitted by submitting the receipt of share subscription and personal identification.

c. Any party conducting a negligence with respect to the refund of subscription fund, thereby causing a delay in such refund of subscription fund or causing another parties to be late in performing their obligations to refund the subscription fund, shall be obligated to pay a penalty to the concerned subscriber in the sum equal to the interest rate per annum of the Rupiah current account applicable at the Bank that will be further determined in the amendment to Securities Underwriting Agreement (the "Interest Rate") for each day of delay up to the date that such outstanding amount is paid, where one) year shall constitute 360 Calendar Days and one months shall constitute 30 Calendar Days.

The party being late in refunding the subscription fund to subscribers due to the negligence of other parties in accordance with the provisions of Article 10.6 of the Securities Underwriting Agreement shall be released from all claims arising from such delay in the refund of subscription fund and shall be released from the obligation to pay such penalty.

d. With respect to the termination of the Securities Underwriting Agreement, which results in the cancellation or postponement of the Initial Public Offering as set out in the Securities Underwriting Agreement, the following provisions shall apply:

1. If such termination occurs before the Payment Date, the refund of subscription fund (including any penalty for lateness in the refund of subscription fund), shall be the responsibility of the Joint Lead Underwriters and/or Underwriters in accordance with their respective underwriting portions, and shall be settled by no later than two Business Days subsequent to the termination of the Securities Underwriting Agreement or the postponement of the Initial Public Offering. Therefore, the Company shall be released from the responsibility over any claims/penalties with respect to failure to refund such subscription (including late penalties, if any).

2. If such termination occurs after the Payment Date, and the subscription payments have been received by the Company, the refund of subscription payments (including any late penalties) shall be the responsibility of the Company, which shall pay the refunds through KSEI to the subscribers.

Therefore, each of the Joint Lead Underwriters and/or Underwriters shall be released from the responsibility over any claims/penalties with respect to failure to refund such subscription (including late penalties, if any).

e. In the event that the subscription fund to be refunded is available, however, the subscribers do not collect such refund, it shall no longer become the responsibilities of the Issuer, the Joint Lead Underwriters and/or Underwriters, and therefore, there shall be no obligation to pay the penalty to the subscribers.

15. Distribution of Allotment Confirmation Form (FKPS) on Share Subscriptions

Share distribution to each Securities Account of the share subscribers at the Underwriters and Selling Agents where the respective FPPS are submitted shall be performed by no sooner than one business days subsequent to the allotment date. The Share Allotment Confirmation Form for such share distribution may be obtained by submitting the Share Subscription Receipt.

16. Others

In the event of oversubscription of Securities and it is proven that certain parties have submitted Securities subscriptions through more than one subscription form for each Initial Public Offering, whether directly or indirectly, then, for the purpose of allotment, the Allotment Manager shall include only one Securities subscription form that is first submitted by the concerned subscribers.

The Joint Lead Underwriters, Underwriters or Selling Agents and their affiliations are prohibited from purchasing or owning shares for their own accounts in the event of oversubscription. Affiliated parties shall only be allowed to subscribe and own shares if there are shares remaining unsubscribed by international and/or domestic unaffiliated parties. The allocation shall be performed proportionally.

In the event of under subscription in the Initial Public Offering, the Joint Lead Underwriters, Underwriters and Selling Agents or their affiliates are prohibited from selling the shares they have subscribed or will subscribe based on the Securities Underwriting Agreement.

XIX. DISTRIBUTION OF PROSPECTUS AND SHARE

SUBSCRIPTION FORM

The Prospectus and FPPS are available at the offices of the following Joint Lead Underwriters: JOINT LEAD UNDERWRITERS

PT Bahana Sekuritas Graha Niaga, 19th_Floor Jl. Jend. Sudirman Kav. 58

Jakarta 12190 Phone. (021) 250 5080 Facsimile. (021) 522 5889 Website: www.bahana.co.id Email:bs_ibcm@bahana.co.id

PT BCA Sekuritas Menara BCA, Grand Indonesia, 41st_{Floor, Jl. M. H. Thamrin No. 1}

Jakarta 12190 Phone. (021) 2358 7222 Facsimile. (021) 2358 7250 Website: www.bcasekuritas.co.id

Email:cf@bcasekuritas.co.id

PT DBS Vickers Sekuritas Indonesia DBS Bank Tower,

Ciputra World I, 32nd_Floor Jl. Prof. Dr. Satrio Kav. 3-5

Jakarta 12940 Phone: (021) 3003 4900 Facsimile: (021) 3003 4944 Website: www.dbsvickers.com Email: corporate.finance@id.dbsvickers.com UNDERWRITERS

PT Bosowa Sekuritas Equity Tower 15th_{Floor Suite}

15D SCBD Lot. 9

Jl. Jendral Sudirman Kav. 52-53 Jakarta 12190

Phone. (021) 2903 5177 Facsimile. (021) 2903 5166

Website:

www.bosowasekuritas.co.id

PT Dhanawibawa Sekuritas Indonesia

Indonesia Stock Exchange Building Tower I 17th_{Floor Suite}

1705

Jl. Jend. Sudirman Kav. 52-53 Jakarta 12190 Phone: (021) 515 1678; 515

1679 (hunting) Facsimile: (021) 515 1226 Website: www.dcoins.co.id

PT Erdhika Elit Sekuritas Sucaco Building, 3rd_Floor

Jl. Kebon Sirih Kav. 71 Jakarta 10340 Phone: (021) 3983 6420 Facsimile: (021) 315 2841; 3983

6422

Website: www.erdhika.com

PT KGI Sekuritas Indonesia Sona Topas Tower, 11th_Floor Jl.Jend.Sudirman Kav. 26 Jakarta 12920, Indonesia Phone. (021) 250 6337 Facsimile. (021) 250 6351/52

Website:www.kgi.id

PT Magenta Kapital Sekuritas Indonesia

Menara Batavia, 23rd_Floor Jl. K.H. Mas Mansyur Kav. 126

Jakarta 10220, Indonesia Phone. (021) 5793 0078 Facsimile. (021) 5793 0079

Website:

www.magentacapitalindonesia.com

PT Panca Global Sekuritas Tbk

Indonesian Stock Exchange Building Tower I, Suites 1706A

Jl. Jend. Sudirman Kav. 52-53 Jakarta 12190 Phone. (021) 515 5456 Facsimile. (021) 515 5466 Website: www.pancaglobal.co.id PT Phillip Sekuritas Indonesia

ANZ Tower 23Bth_Floor Jl. Jend. Sudirman Kav. 33A

Jakarta 10220 Phone. (021) 5790 0800 Facsimile. (021) 5790 0809 Website: www.phillip.co.id/id

PT Profindo Sekuritas Indonesia Permata Kuningan Building, 19th

Floor

Jl. Kuningan Mulia Kav. 9c, Guntur Setiabudi

Jakarta 12980, Indonesia Phone. (021) 8378 0888 Facsimile. (021) 8378 0889

PT Yulie Sekurindo Tbk Plaza Asia, 5th_Floor Jl. Jend. Sudirman Kav. 59

Jakarta 12190 Phone. (021) 5140 2181 Facsimile. (021) 5140 2182

Website:

Website: www.profindo.com

In addition to the offices of the Joint Lead Underwriters and Underwriters, the Prospectus and Share Subscription Form (FPPS) are available at the Public Offering Counters at:

PT Datindo Entrycom Jl. Hayam Wuruk No. 28