PT Intiland Development Tbk dan Entitas Anakand Its Subsidiaries

  PT Intiland Development Tbk dan Entitas Anak/and Its Subsidiaries Laporan Keuangan Konsolidasian/ Consolidated Financial Statements Pada Tanggal 30 Juni 2016 dan 31 Desember 2015

serta untuk Periode Enam Bulan yang Berakhir 30 Juni 2016 dan 2015/

As of June 30, 2016 and December 31, 2015 and for the Six-Month Periods Ended June 30, 2016 and 2015

  PT INTILAND DEVELOPMENT Tbk DAN ENTITAS ANAK/AND ITS SUBSIDIARIES DAFTAR ISI/TABLE OF CONTENTS Halaman/

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  Surat Pernyataan Direksi tentang Tanggung Jawab atas Laporan Keuangan Konsolidasian PT Intiland Development Tbk dan Entitas Anak pada Tanggal 30 Juni 2016 dan 31 Desember 2015 serta untuk Periode Enam Bulan yang berakhir 30 Juni 2016 dan 2015/

  The Directors’ Statement on the Responsibility for Consolidated Financial Statements of PT Intiland Development Tbk and Its Subsidiaries as of June 30, 2016 and December 31, 2015 and for the Six-Month Periods Ended June 30, 2016 and 2015

  LAPORAN KEUANGAN KONSOLIDASIAN – Pada tanggal 30 Juni 2016 dan 31 Desember 2015

  serta untuk periode yang berakhir 30 Juni 2016 dan 2015

  CONSOLIDATED FINANCIAL STATEMENTS – As of June 30, 2016 and December 31, 2015 and for the Six-Month Periods Ended June 30, 2016 and 2015

  Laporan Posisi Keuangan Konsolidasian/Consolidated Statements of Financial Position

  1 Laporan Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian/Consolidated

  Statements of Profit or Loss and Other Comprehensive Income

  3 Laporan Perubahan Ekuitas Konsolidasian/Consolidated Statements of Changes in Equity

  4 Laporan Arus Kas Konsolidasian/Consolidated Statements of Cash Flows

  5 Catatan atas Laporan Keuangan Konsolidasian/Notes to Consolidated Financial Statements

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PT INTILAND DEVELOPMENT Tbk DAN ENTITAS ANAK PT INTILAND DEVELOPMENT Tbk AND ITS SUBSIDIARIES

Laporan Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position

  NONCURRENT ASSETS Piutang usaha - pihak ketiga 83,444,857,170 6 74,950,451,128 Trade accounts receivable - third parties Investasi aset keuangan tersedia untuk dijual 37,396,714,490 5 37,190,552,259 Investments in available-for-sale financial assets Persediaan 1,012,409,093,681

  14 225,290,354,193 December 31, 2015, respectively Goodwill 6,184,505,653 16 6,184,505,653 Goodwill Aset lain-lain 2,850,251,842 3,469,271,492 Other assets

  15 1,117,920,560,876 respectively Aset tetap - setelah dikurangi akumulasi Property and equipment - net of accumulated penyusutan sebesar Rp 203.785.645.673 dan depreciation of Rp 203,785,645,673 and Rp 189.195.603.862 pada tanggal 30 Juni 2016 Rp 189,195,603,862 as of June 30, 2016 and dan 31 Desember 2015 241,695,851,198

  Rp 221,755,227,189 and Rp 217,630,296,590 Rp 221.755.227.189 dan Rp 217.630.296.590 as of June 30, 2016 and December 31, 2015, pada tanggal 30 Juni 2016 dan 31 Desember 2015 1,170,536,603,743

  39 4,156,165,664 Deferred tax assets Properti Investasi - setelah dikurangi Investment properties - net of accumulated depreciation akumulasi penyusutan sebesar

  11 3,644,191,259,620 Land for development Piutang pihak berelasi non - usaha 4,226,328,631 12 4,216,228,631 Due from related parties Investasi entitas asosiasi dan ventura bersama 219,279,522,933 13 224,475,426,350 Investments in associates and joint venture Aset pajak tangguhan 4,156,165,664

  8 1,550,677,791,992 Inventories Uang muka 499,169,548,123 9 470,242,091,299 Advances Tanah yang belum dikembangkan 3,419,090,898,000

  10 192,316,917,336 Prepaid taxes Biaya dibayar dimuka 1,509,498,530 1,742,175,672 Prepaid expenses Jumlah Aset Lancar 4,240,350,262,293 2,925,607,417,725 Total Current Assets ASET TIDAK LANCAR

  30 Juni 2016 dan 31 Desember 2015 June 30, 2016 and December 31, 2015

  31 Desember 2015 198,159,683,133 6 235,503,840,409 June 30, 2016 and December 31, 2015, respectively Piutang lain-lain 48,198,631,287 7 33,512,273,613 Other accounts receivable Persediaan 2,896,932,793,874 8 2,013,316,627,799 Inventories Uang muka 43,820,071,363 9 44,638,841,416 Advances Pajak dibayar dimuka 198,463,036,138

  Trade accounts receivable - third parties - nilai masing-masing sebesar Rp 9.131.339.827dan net of allowance for impairment of Rp 10.103.339.827 pada tanggal 30 Juni 2016 dan Rp 9,131,339,827 and Rp 10,103,339,827 as of

  Kas dan setara kas 853,266,547,968 4 404,576,741,480 Cash and cash equivalents Piutang usaha - pihak ketiga - setelah dikurangi cadangan kerugian penurunan

  ASET ASSETS ASET LANCAR CURRENT ASSETS

  31 Desember 2015/

June 30, 2016 Notes December 31, 2015

  30 Juni 2016/ Catatan/

  

(Angka-angka Disajikan dalam Rupiah, kecuali Dinyatakan Lain) (Figures are Presented in Rupiah, unless Otherwise Stated)

  Jumlah Aset Tidak Lancar 6,700,440,341,128 7,362,964,659,157 Total Noncurrent Assets JUMLAH ASET 10,940,790,603,421 10,288,572,076,882 TOTAL ASSETS Lihat catatan atas laporan keuangan konsolidasian yang merupakan bagian See accompanying notes to consolidated financial statements yang tidak terpisahkan dari laporan keuangan konsolidasian. which are an integral part of the consolidated financial statements.

  

PT INTILAND DEVELOPMENT Tbk DAN ENTITAS ANAK PT INTILAND DEVELOPMENT Tbk AND ITS SUBSIDIARIES

Laporan Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position

  Long-term liabilities - net of current portion: Utang bank 1,833,807,860,040 17 1,322,532,703,278 Bank loans Utang sewa pembiayaan 1,550,210,024 26 1,981,038,293 Lease liabilities Utang obligasi 735,597,236,590 18 153,102,690,081 Bonds payable

  Jumlah Ekuitas yang Dapat Diatribusikan

kepada Pemilik Entitas Induk 4,832,208,973,449 4,681,562,313,144 Total Equity Attributable to Owners of the Company

Kepentingan non-pengendali 89,181,295,226

  Retained earnings Ditentukan penggunaannya 8,000,000,000 8,000,000,000 Appropriated Tidak ditentukan penggunaannya 1,284,049,033,008 1,133,402,372,703 Unappropriated

  Difference in value arising from transactions with non-pengendali (92,814,618,166) (92,814,618,166) non-controlling interests Saldo laba

  10.365.854.185 saham 2,591,463,546,250 30 2,591,463,546,250 Issued and paid-up - 10,365,854,185 shares Saham treasuri - 98.755.000 saham (24,688,750,000) 30 (24,688,750,000) Treasury stocks - 98,755,000 shares Tambahan modal disetor - bersih 1,066,199,762,357 31 1,066,199,762,357 Additional paid-in capital - net Selisih nilai transaksi dengan kepentingan

  Authorized - 24,000,000,000 shares with dengan nilai nominal Rp 250 per saham Rp 250 par value per share Modal ditempatkan dan disetor -

  Modal saham Capital stock Modal dasar - 24.000.000.000 saham

  Jumlah Liabilitas Jangka Panjang 3,132,660,260,215 2,232,018,222,774 Total Noncurrent Liabilities Jumlah Liabilitas 6,019,400,334,746 5,517,743,393,322 Total Liabilities EKUITAS EQUITY Ekuitas yang Dapat Diatribusikan kepada Equity Attributable to Owners of Pemilik Entitas Induk the Company

  Utang lain-lain 55,149,208,203 21 50,028,195,051 Other accounts payable Uang muka penjualan 272,648,778,555 25 453,840,759,642 Sales advances Utang pihak berelasi - non-usaha 99,220,000,000 12 99,220,000,000 Due to a related party - non-trade Uang jaminan 44,116,876,632 27 60,742,746,258 Guarantee deposits Liabilitas imbalan kerja jangka panjang 90,570,090,171 41 90,570,090,171 Long-term employee benefits liability Liabilitas jangka panjang - setelah dikurangi bagian yang akan jatuh tempo dalam waktu satu tahun:

  30 Juni 2016 dan 31 Desember 2015 June 30, 2016 and December 31, 2015

  Total Current Liabilities LIABILITAS JANGKA PANJANG NONCURRENT LIABILITIES

  Jumlah Liabilitas Jangka Pendek

2,886,740,074,531 3,285,725,170,548

  Current portion of long-term liabilities: Utang bank 210,260,496,215 17 547,599,982,931 Bank loans Utang sewa pembiayaan 1,109,442,056 26 1,311,645,671 Lease liabilities Utang obligasi 345,344,925,381 18 345,070,802,264 Bonds payable Uang jaminan 14,509,732,500 27 9,417,543,837 Guarantee deposits

  Utang bank jangka pendek 742,160,990,838 17 820,908,230,798 Short-term bank loans Wesel bayar 7,000,000,000 19 7,000,000,000 Notes payable Utang usaha kepada pihak ketiga 306,520,205,820 20 332,694,828,372 Trade accounts payable to third parties Utang lain-lain 82,267,220,876 21 67,609,736,037 Other accounts payable Utang pajak 59,187,566,552 22 54,364,580,421 Taxes payable Beban akrual 116,318,549,066 23 111,235,663,589 Accrued expenses Pendapatan diterima dimuka 169,358,340,459 24 99,347,712,492 Unearned revenues Uang muka penjualan 832,702,604,768 25 889,164,444,136 Sales advances Bagian liabilitas jangka panjang yang akan jatuh tempo dalam waktu satu tahun:

  LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY LIABILITAS LIABILITIES LIABILITAS JANGKA PENDEK CURRENT LIABILITIES

  31 Desember 2015/

June 30, 2016 Notes December 31, 2015

  30 Juni 2016/ Catatan/

  

(Angka-angka Disajikan dalam Rupiah, kecuali Dinyatakan Lain) (Figures are Presented in Rupiah, unless Otherwise Stated)

  29 89,266,370,416 Non-controlling interests Jumlah Ekuitas 4,921,390,268,675 4,770,828,683,560 Total Equity JUMLAH LIABILITAS DAN EKUITAS 10,940,790,603,421 10,288,572,076,882 TOTAL LIABILITIES AND EQUITY Lihat catatan atas laporan keuangan konsolidasian yang merupakan bagian See accompanying notes to consolidated financial statements yang tidak terpisahkan dari laporan keuangan konsolidasian. which are an integral part of the consolidated financial statements.

  

PT INTILAND DEVELOPMENT Tbk DAN ENTITAS ANAK PT INTILAND DEVELOPMENT Tbk AND ITS SUBSIDIARIES

Laporan Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian Consolidated Statements of Profit or Loss and Other Comprehensive Income

Untuk Periode yang Berakhir 30 Juni 2016 dan 2015

  BEBAN PAJAK - 39 (3,795,027,123) TAX EXPENSE LABA TAHUN BERJALAN 150,561,585,115 145,163,730,703 PROFIT FOR THE YEAR PENGHASILAN (RUGI) KOMPREHENSIF LAIN

  

41

  15

  LABA PER SAHAM DASAR

  Pemilik entitas induk 150,646,660,305 126,287,229,745 Owners of the Company Kepentingan non-pengendali (85,075,190) 29 14,747,247,194 Non-controlling interests

150,561,585,115 141,034,476,939

  TOTAL COMPREHENSIVE INCOME YANG DAPAT DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO:

  29 15,358,743,758 Non-controlling interests

150,561,585,115 145,163,730,703

JUMLAH PENGHASILAN KOMPREHENSIF

  ATTRIBUTABLE TO: Pemilik entitas induk 150,646,660,305 129,804,986,945 Owners of the Company Kepentingan non-pengendali (85,075,190)

  OTHER COMPREHENSIVE INCOME (LOSS) JUMLAH PENGHASILAN (RUGI) KOMPREHENSIF LAIN - TOTAL OTHER COMPREHENSIVE INCOME - BERSIH - (4,129,253,764) NET OF TAX JUMLAH PENGHASILAN KOMPREHENSIF 150,561,585,115 141,034,476,939 TOTAL COMPREHENSIVE INCOME JUMLAH LABA TAHUN BERJALAN TOTAL PROFIT FOR THE YEAR YANG DAPAT DIATRIBUSIKAN KEPADA:

  258,096,583 13 (173,167,716) AND JOINT VENTURE LABA SEBELUM PAJAK 150,561,585,115 148,958,757,826 PROFIT BEFORE TAX

  For Period Ended June 30, 2016 and 2015

(Angka-angka Disajikan dalam Rupiah, kecuali Dinyatakan Lain) (Figures are Presented in Rupiah, unless Otherwise Stated)

6 bulan/ 6 bulan/

  38 (48,895,216,123) Interest expense Lain-lain - bersih 13,190,994,241 45,155,207,795 Others - net Penghasilan (Beban) Lain-lain - Bersih (31,153,681,557) 6,256,874,578 Other Income (Expenses) - Net EKUITAS PADA RUGI BERSIH ENTITAS ASOSIASI SHARE IN NET LOSS OF ASSOCIATES DAN VENTURA BERSAMA

  OTHER INCOME (EXPENSES) Pendapatan bunga 5,053,134,194 37 11,223,742,682 Interest income Keuntungan (kerugian) kurs mata uang asing - bersih 364,324,003 (1,163,282,885) Gain (loss) on foreign exchange - net Keuntungan (kerugian) penjualan aset tetap 93,050,000 14 (63,576,891) Gain (loss) on sale of property and equipment Beban bunga (49,855,183,995)

  Jumlah Beban Usaha 285,254,005,108 254,281,434,116 Total Operating Expenses LABA USAHA 181,457,170,089 142,875,050,964 OPERATING PROFIT PENGHASILAN (BEBAN) LAIN-LAIN

  Penjualan 55,036,013,951 35 41,189,147,453 Selling Umum dan administrasi 171,919,350,429 36 162,827,597,597 General and administrative Pajak final 58,298,640,728 50,264,689,066 Final Tax

  BEBAN USAHA OPERATING EXPENSES

  PENDAPATAN USAHA 1,130,216,128,022 33 993,432,458,730 REVENUES BEBAN POKOK PENJUALAN DAN BEBAN LANGSUNG 663,504,952,825 34 596,275,973,650 COST OF SALES AND DIRECT EXPENSES LABA KOTOR 466,711,175,197 397,156,485,080 GROSS PROFIT

  30 Juni 2015/

June 30, 2016 Notes June 30, 2015

  30 Juni 2016/ Catatan/

  

6 months 6 months

  13 BASIC EARNINGS PER SHARE Lihat catatan atas laporan keuangan konsolidasian yang merupakan bagian See accompanying notes to consolidated financial statements yang tidak terpisahkan dari laporan keuangan konsolidasian. which are an integral part of the consolidated financial statements.

  PT INTILAND DEVELOPMENT Tbk DAN ENTITAS ANAK PT INTILAND DEVELOPMENT Tbk AND ITS SUBSIDIARIES Laporan Perubahan Ekuitas Konsolidasian

  Consolidated Statements of Changes in Equity Untuk Periode yang Berakhir 30 Juni 2016 dan 2015 For Period Ended June 30, 2016 and 2015 (Angka-angka Disajikan dalam Rupiah, kecuali Dinyatakan Lain)

  (Figures are Presented in Rupiah, unless Otherwise Stated) Ekuitas yang Dapat Diatribusikan kepada Pemilik Entitas Induk/Equity Attributable to Owners of the Company Selisih Nilai Transaksi dengan Kepentingan Nonpengendali/ Modal Tambahan Modal Difference in Value Ditempatkan Saham Disetor/ Arising from Saldo Laba/Retained Earnings Kepentingan dan Disetor/ Treasuri/ Additional Transactions with Ditentukan Belum Ditentukan Nonpengendali/

  Issued and Treasury Paid-in Non-Controlling Penggunaannya/ Penggunaannya/ Jumlah/ Non-Controlling Jumlah Ekuitas/ Paid-up Capital Stocks Capital Interests Appropriated Unappropriated Total Interests Total Equity Saldo pada tanggal 1 Januari 2015, yang dilaporkan sebelumnya/

  2,591,463,546,250 (24,688,750,000) 1,066,199,762,357 (92,814,618,166) 6,000,000,000 835,725,588,103 4,381,885,528,544 86,634,242,616 4,468,519,771,160 Balance as of January 1, 2015, as previously reported

  Penghasilan komprehensif/Comprehensive income Laba tahun berjalan/Profit for the year 129,804,986,945 129,804,986,945 15,358,743,758 - - - - -

  145,163,730,703 Penghasilan komprehensif lain/Other comprehensive income

  Pengukuran kembali liabilitas imbalan kerja jangka panjang/ Remeasurement of long-term employee benefits liability

  (3,517,757,200) (3,517,757,200) - - - - (611,496,564) (4,129,253,764) -

  Jumlah penghasilan komprehensif/

• Total comprehensive income

  126,287,229,745 126,287,229,745 14,747,247,194 141,034,476,939 Transaksi dengan pemilik/Transactions with owners

• (102,670,991,850) (102,670,991,850) (102,670,991,850)
• Dividen/Dividends
• Jumlah transaksi dengan pemilik/Total transactions with owners

  (102,670,991,850) (102,670,991,850) (102,670,991,850) - Pembentukan cadangan umum/

• 2,000,000,000 (2,000,000,000) - - - -
• Appropriation for genereal reserve

  Saldo pada tanggal 30 Juni 2015/

Balance as of June 30, 2015 2,591,463,546,250 (24,688,750,000) 1,066,199,762,357 (92,814,618,166) 8,000,000,000 857,341,825,998 4,405,501,766,439 101,381,489,810 4,506,883,256,249

  Saldo pada tanggal 1 Januari 2016, yang dilaporkan sebelumnya/

Balance as of January 1, 2016, as previously reported 2,591,463,546,250 (24,688,750,000) 1,066,199,762,357 (92,814,618,166) 8,000,000,000 1,133,402,372,703 4,681,562,313,144 89,266,370,416 4,770,828,683,560

  Penghasilan komprehensif/Comprehensive income 150,646,660,305 - - - - -

  150,646,660,305 (85,075,190) 150,561,585,115 Laba tahun berjalan/Profit for the year Saldo pada tanggal 30 Juni 2016/

  

Balance as of June 30, 2016 2,591,463,546,250 (24,688,750,000) 1,066,199,762,357 (92,814,618,166) 8,000,000,000 1,284,049,033,008 4,832,208,973,449 89,181,295,226 4,921,390,268,675

Lihat catatan atas laporan keuangan konsolidasian yang merupakan

  See accompanying notes to consolidated financial statements bagian yang tidak terpisahkan dari laporan keuangan konsolidasian. which are an integral part of the consolidated financial statements.

• - 4 -

  

PT INTILAND DEVELOPMENT Tbk DAN ENTITAS ANAK PT INTILAND DEVELOPMENT Tbk AND ITS SUBSIDIARIES

Laporan Arus Kas Konsolidasian Consolidated Statement of Cash Flows Untuk Periode yang Berakhir 30 Juni 2016 dan 2015

  For Period Ended June 30, 2016 and 2015

(Angka-angka Disajikan dalam Rupiah, kecuali Dinyatakan Lain) (Figures are Presented in Rupiah, unless Otherwise Stated)

  30 Juni 2016/

  30 Juni 2015/

June 30, 2016 June 30, 2015

  ARUS KAS DARI AKTIVITAS OPERASI CASH FLOWS FROM OPERATING ACTIVITIES

  Penerimaan dari pelanggan 979,889,005,805 764,246,458,020 Cash receipts from customers Pembayaran kepada pemasok, karyawan dan lain-lain (996,212,675,964) (1,238,443,248,380) Cash paid to suppliers, employees and others Kas dihasilkan dari (digunakan untuk) operasi (16,323,670,159) (474,196,790,360) Net cash generated from (used in) operations

  Pembayaran bunga (168,623,911,194) (94,909,823,145) Interest paid Pembayaran pajak penghasilan (60,087,152,286) (58,757,378,402) Income tax paid Kas Bersih Diperoleh dari (Digunakan untuk) Aktivitas Operasi (245,034,733,639) (627,863,991,907) Net Cash Provided by (Used in) Operating Activities ARUS KAS DARI AKTIVITAS INVESTASI

  CASH FLOWS FROM INVESTING ACTIVITIES Penerimaan bunga 5,053,134,194 11,223,742,682 Interest received Pembayaran untuk investasi saham yang

  Payment for investment in available for sale of tidak memiliki kuotasi harga di pasar yang aktif (206,162,231) - shares not quoted in active market Penerimaan deviden dari entitas asosiasi dan ventura bersama 5,454,000,000 5,860,979,063 Dividend received from associates and joint venture Perolehan properti investasi (929,728,525) (918,331,260) Acquisitions of investment properties Penambahan aset tetap (19,508,612,740) (30,421,763,289) Acquisitions of property and equipment Hasil penjualan aset tetap 170,580,778 364,233,586 Proceeds from sale of property and equipment Kas Bersih Digunakan Untuk

  Aktivitas Investasi (9,966,788,524) (13,891,139,218) Net Cash Used in Investing Activities ARUS KAS DARI AKTIVITAS PENDANAAN CASH FLOWS FROM FINANCING ACTIVITIES Penerimaan utang bank 441,594,843,764 420,917,171,254 Proceeds from bank loans Pembayaran utang bank (346,406,413,678) (18,206,052,775) Payments of bank loans Penerimaan utang obligasi 590,000,000,000 - Proceeds from bonds payable Penerimaan utang lain-lain 19,778,497,991 7,252,370,028 Received from other payable Pembayaran utang lain-lain - (49,800,407,613) Payments of other accounts payables Penerimaan wesel bayar - 211,200,000,002 Received from notes payable Pembayaran wesel bayar - (31,100,000,000) Payments of notes payable Pembayaran kepada pihak berelasi (10,100,000) (7,600,000) Payments to related parties Pembayaran utang sewa pembiayaan (633,031,884) (1,040,782,297) Payment of lease liabilities Kas Bersih Diperoleh dari Aktivitas Pendanaan 704,323,796,193 539,214,698,599 Net Cash Provided by Financing Activities KENAIKAN BERSIH

  NET INCREASE IN KAS DAN SETARA KAS

449,322,274,030 (102,540,432,526)

  CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT KAS DAN SETARA KAS AWAL TAHUN 404,576,741,480 552,207,773,905 THE BEGINNING OF YEAR Pengaruh perubahan kurs mata uang asing (632,467,542) 3,420,035,038 Effect of foreign exchange rate changes KAS DAN SETARA KAS AKHIR TAHUN 853,266,547,968 453,087,376,417 CASH AND CASH EQUIVALENTS AT THE END OF YEAR Lihat catatan atas laporan keuangan konsolidasian yang merupakan bagian See accompanying notes to consolidated financial statements yang tidak terpisahkan dari laporan keuangan konsolidasian. which are an integral part of the consolidated financial statements.

  PT INTILAND DEVELOPMENT Tbk DAN ENTITAS ANAK Catatan atas Laporan Keuangan Konsolidasian

  30 Juni 2016 dan 31 Desember 2015 Serta Untuk Periode Enam Bulan yang Berakhir

  30 Juni 2016 dan 2015 (Angka-angka Disajikan dalam Rupiah, kecuali Dinyatakan Lain) PT INTILAND DEVELOPMENT Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements As of June 30, 2016 and December 31, 2015 And For the Six-Month Periods Ended June 30, 2016 and 2015 (Figures are presented in Rupiah, unless Otherwise Stated)

  1. Umum

  1. General

a. Pendirian dan Informasi Umum

  PT Intiland Development Tbk (Perusahaan) didirikan dalam rangka Undang-Undang Penanaman Modal Asing No. 1 tahun 1967, juncto Undang-Undang No. 11 tahun 1970, berdasarkan akta No. 118 tanggal

  10 Juni 1983 dari Kartini Muljadi, S.H., notaris di Jakarta dengan nama PT Wisma Dharmala Sakti. Akta pendirian ini disahkan oleh Menteri Kehakiman Republik Indonesia dalam Surat Keputusan No. C2-6668-HT.01.01Th.83 tanggal

  a. Establishment and General Information

  29 Juni 2010 dari Saniwati Suganda, S.H., notaris di Jakarta, sehubungan dengan pemecahan saham Perusahaan. Akta perubahan ini telah memperoleh persetujuan dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dengan surat No. AHU-41809.AH. 01.02. Tahun 2010 tanggal 24 Agustus 2010.

  PT Intiland Development Tbk (the Company) was established within the framework of the Foreign Capital Investment Law No. 1 year 1967, as amended by Law No. 11 year 1970, based on Notarial Deed No. 118 dated June 10, 1983 of Kartini Muljadi, S.H., a public notary in Jakarta, under the name of PT Wisma Dharmala Sakti. The Deed of Establishment was approved by the Minister of Justice of the Republic of Indonesia in his Decision Letter No. C2-6668-HT.01.01Th.83 dated October 10, 1983. The Company’s Articles of Association have been amended several times, most recently by Deed No. 34 dated June 29, 2010 from Saniwati Suganda, S.H., a public notary in Jakarta, in connection with the stock split of shares of the Company. These amendments were approved by the Minister of Justice and Human Rights of the Republic of Indonesia by letter No. AHU-41809.AH. 01.02. Year 2010 dated August 24, 2010. Perusahaan telah menyesuaikan Anggaran Dasarnya dalam rangka memenuhi ketentuan Peraturan Otoritas Jasa Keuangan dan Peraturan Bursa Efek Indonesia. Perubahan ini didokumentasikan dalam Akta No. 36 tanggal

  7 September 2015 dari Humberg Lie, SH.,M.Kn., notaris di Jakarta, dan telah dicatatkan ke Menteri Hukum dan Hak Asasi Manusia Republik Indonesia melalui Surat Penerimaan Pemberitahuan No. AHU- AHA.01.03-0968392 tanggal 30 September 2015.

  The Company has amended its articles of association to comply with the regulations of Financial Services Authority and Regulations of Indonesia Stock Exchange. The amendments were documented in Notarial Deed No. 36 dated September 7, 2015 of Humberg Lie, SH.,M.Kn., a public notary in Jakarta, and approved by the Minister of Law and Human Rights of the Republic of Indonesia in his Decision Letter No. AHU-AHA.01.03-0968392 dated September 30, 2015.

  Sesuai dengan pasal 3 anggaran dasar Perusahaan, ruang lingkup kegiatan Perusahaan terutama meliputi bidang usaha pembangunan dan persewaan perkantoran.

  Perusahaan mulai beroperasi secara komersial sejak 1 Oktober 1987 dengan aktivitas utamanya adalah industri real estat, sedangkan entitas anak menjalankan proyek-proyek sebagai berikut:

  In accordance with article 3 of the Company’s Articles of Association, the scope of its activities is to engage in the construction and rental of office buildings. The Company started its commercial operations on October 1, 1987 with main activities in real estate industry, while the subsidiaries have real estate projects as follows:

  10 Oktober 1983. Anggaran dasar Perusahaan telah mengalami beberapa kali perubahan, terakhir dengan Akta No. 34 tanggal

  PT INTILAND DEVELOPMENT Tbk DAN ENTITAS ANAK Catatan atas Laporan Keuangan Konsolidasian

  30 Juni 2016 dan 31 Desember 2015 Serta Untuk Periode Enam Bulan yang Berakhir

  30 Juni 2016 dan 2015 (Angka-angka Disajikan dalam Rupiah, kecuali Dinyatakan Lain) PT INTILAND DEVELOPMENT Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements As of June 30, 2016 and December 31, 2015 And For the Six-Month Periods Ended June 30, 2016 and 2015 (Figures are presented in Rupiah, unless Otherwise Stated)

  Nama Proyek/Projects Lokasi/Location

PT Taman Harapan Indah Taman Semanan Indah Jakarta

PT Perkasa Lestari Utama Taman Semanan Indah Jakarta

PT Perkasa Lestari Permai Aeropolis Jakarta

PT Sinar Puspapersada Talaga Bestari Tangerang

PT Putra Sinar Permaja South Quarter Jakarta

PT Gandaria Permai

  1Park Residences Jakarta PT Gandaria Prima

  1Park Avenue Jakarta

PT Dinamika Kencana Mandiri Puri Permata Indah Pacitan

PT Intiland Grande Graha Natura Surabaya

PT Intiland Sejahtera Kawasan Industri Ngoro II Surabaya

PT Grande Family View Graha Family Surabaya

PT Grande Imperial Sumatra 36 Surabaya

PT Inti Gria Perdana Serenia Hills Jakarta

PT Prima Sentosa Ganda Praxis Surabaya

Badan Kerjasama Intiland Starlight Spazio Surabaya

Entitas Anak/The Subsidiaries

  Perusahaan tergabung dalam kelompok usaha Intiland. Perusahaan berdomisili di Jakarta dengan kantor pusat beralamat di Intiland Tower, Penthouse, Jl. Jenderal Sudirman Kav. 32, Jakarta.

  The Company is one of the companies owned by Intiland Group. The Company is domiciled in Jakarta and it’s head office is located at Intiland Tower, Penthouse, Jl. Jenderal Sudirman Kav. 32, Jakarta. Perusahaan dan entitas anak selanjutnya bersama-sama disebut sebagai “Grup”.

  The Company and its subsidiaries are collectively referred to herein as “the Group”.

b. Penawaran Umum Efek Perusahaan

  b. Public Offering of Shares

  Pada tanggal 21 Oktober 1989, Perusahaan memperoleh Pernyataan Efektif dari Menteri Keuangan Republik Indonesia dengan Surat Keputusan No. S1-064/SHM/MK.10/1989 untuk melakukan penawaran umum atas 6.000.000 saham Perusahaan di Bursa Paralel kepada masyarakat. Saham-saham tersebut telah tercatat pada tanggal 15 Januari 1990. Bersamaan dengan pernyataan tersebut, Perusahaan juga mencatatkan sebanyak 6.000.000 saham dari pemegang saham lama pada Bursa Paralel, sehingga jumlah saham yang dicatatkan menjadi 12.000.000 saham.

  On October 21, 1989, the Company obtained Notice of Effectivity No. S1-064/SHM/MK.10/1989 from the Minister of Finance of the Republic of Indonesia for the offering of 6,000,000 shares to the public through the parallel stock exchange. These shares were listed in the parallel stock exchange on January 15, 1990. Based on such notification, the Company also listed in the parallel stock exchange additional 6,000,000 shares from founding stockholders resulting in listed shares totaling to 12,000,000. Pada tanggal 2 Agustus 1991, Perusahaan memperoleh Pernyataan Efektif dari Ketua Badan Pengawas Pasar Modal (sekarang Otoritas Jasa Keuangan-OJK) dengan Surat Keputusan No. S-1407/PM/1991 untuk melakukan penawaran umum atas 12.000.000 saham. Saham-saham tersebut dicatat pada tanggal 1 September 1991.

  On August 2, 1991, the Company obtained the Notice of Effectivity No. S-1407/PM/1991 from the Chairman of the Capital Market Supervisory Agency (Financial Services Authority-OJK) for the offering of 12,000,000 shares to the public. These shares were listed in the Indonesia Stock Exchange on September 1, 1991.

  PT INTILAND DEVELOPMENT Tbk DAN ENTITAS ANAK Catatan atas Laporan Keuangan Konsolidasian

  30 Juni 2016 dan 31 Desember 2015 Serta Untuk Periode Enam Bulan yang Berakhir

  30 Juni 2016 dan 2015 (Angka-angka Disajikan dalam Rupiah, kecuali Dinyatakan Lain) PT INTILAND DEVELOPMENT Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements As of June 30, 2016 and December 31, 2015 And For the Six-Month Periods Ended June 30, 2016 and 2015 (Figures are presented in Rupiah, unless Otherwise Stated)

  Pada tanggal 18 Juni 1992 Perusahaan memperoleh Pernyataan Efektif dari Ketua Bapepam (sekarang Otoritas Jasa Keuangan-OJK) No. S-989/PM/1992 perihal pemberitahuan efektifnya Pernyataan Pendaftaran Perusahaan mengenai penawaran umum terbatas I sebesar 121.418.000 saham kepada para pemegang saham. Saham-saham tersebut dicatat pada Bursa Efek Indonesia pada tanggal 8 September 1992.

  On June 18, 1992, the Company obtained Notice of Effectivity No. S-989/PM/1992 from the Chairman of Bapepam for its Rights Issue I of 121,418,000 shares to the stockholders. These shares were listed in the Indonesia Stock Exchange on September 8,1992.

  Pada tanggal

  6 Juni 1994, Perusahaan memperoleh pernyataan efektif dari Ketua Bapepam (sekarang Otoritas Jasa Keuangan- OJK) dengan surat No. S-021/PM/1994 untuk melakukan penawaran umum terbatas II dengan hak memesan efek terlebih dahulu sebesar 81.209.000 saham. Saham-saham tersebut dicatat pada Bursa Efek Indonesia pada tanggal 20 Juni 1994.

  On June 6, 1994, the Company obtained Notice of Effectivity No. S-021/PM/1994 from the Chairman of Bapepam for its rights issue

  II of 81,209,000 shares. These shares were listed in the Indonesia Stock Exchange on June 20, 1994.

  Pada tanggal

  23 Juli 2007, Perusahaan memperoleh persetujuan dari Direktur Bursa Efek Indonesia untuk pencatatan tambahan 2.183.973.483 saham dengan nilai nominal Rp 500 per saham sehubungan dengan konversi utang tertentu Perusahaan menjadi saham.

  On July 23, 2007, the Company obtained the approval from the Director of the Indonesia Stock Exchange for the listing of the additional 2,183,973,483 shares with nominal value of Rp 500 per share in relation to the conversion of Company’s certain debts into shares of stock. Pada tanggal 29 Maret 2010, Perusahaan telah mendapat pernyataan efektif dari Bapepam - LK (sekarang OJK) dengan surat No. S-2807/BL/2010 atas Penawaran Umum Terbatas III Kepada Para Pemegang Saham Dalam Rangka Penerbitan Efek Dengan Hak Memesan Efek Terlebih Dahulu (HMETD) sejumlah 2.073.170.722 saham biasa dan sejumlah 1.036.585.361 Waran Seri 1, yang diterbitkan menyertai saham baru tersebut. Saham dan waran tersebut dicatat pada Bursa Efek Indonesia pada tanggal 22 April 2010.

  On March 29, 2010, the Company has obtained Bapepam - LK’s Notice of Effectivity No. S-2807/BL/2010 for its Limited Public Offering III of Rights Issue (HMETD) totaling to 2,073,170,722 common shares and Warrant Series 1 totaling to 1,036,585,361 warrants which are issued as part of the Rights Issue. These shares and warrants were listed in the Indonesia Stock Exchange on April 22, 2010.

  Pada tanggal 29 Juni 2010, Berdasarkan Keputusan Rapat Umum Pemegang Saham Luar Biasa Perusahaan pada tanggal

  29 Juni 2010, Perusahaan melakukan pemecahan nilai nominal saham Perusahaan dari Rp 500 per lembar saham menjadi Rp 250 per lembar saham sehingga modal dasar saham Perusahaan yang semula sejumlah 12.000.000.000 lembar saham menjadi 24.000.000.000 lembar saham dan jumlah saham ditempatkan dan disetor dari 5.182.926.805 lembar saham menjadi 10.365.853.610 lembar saham.

  Based on the Resolution of Extraordinary General Meeting of the Stockholders of the Company which was held on June 29, 2010, the Company conducted stock split wherein the par value of its shares was changed from Rp 500 per share to Rp 250 per share, thus, the authorized shares of 12,000,000,000 became 24,000,000,000 shares and the subscribed and paid-up capital of 5,182,926,805 shares became 10,365,853,610 shares.

  

PT INTILAND DEVELOPMENT Tbk PT INTILAND DEVELOPMENT Tbk

DAN ENTITAS ANAK

AND ITS SUBSIDIARIES

  

Catatan atas Laporan Keuangan Konsolidasian Notes to Consolidated Financial Statements

  

30 Juni 2016 dan 31 Desember 2015 Serta Untuk As of June 30, 2016 and December 31, 2015

Periode Enam Bulan yang Berakhir And For the Six-Month Periods Ended

30 Juni 2016 dan 2015

  June 30, 2016 and 2015

(Angka-angka Disajikan dalam Rupiah, kecuali (Figures are presented in Rupiah, unless

Dinyatakan Lain)

  Otherwise Stated)

  Berkenaan dengan Waran Seri 1 yang In relation to Warrant Series 1 which was diterbitkan pada Penawaran Umum Terbatas III, issued on Limited Public Offering III, until sampai dengan 31 Desember 2012, jumlah December 31, 2012, warrants that have been waran yang dikonversikan ke saham sebanyak converted to shares totalled to 575 shares. 575 saham. Dan Waran Seri 1 Perusahaan The Company Warrant Series 1 could no tidak dapat dilaksanakan lagi karena longer be exercised since the exercise period berakhirnya periode pelaksanaan waran pada has lapsed on April 12, 2012. Warrant Series tanggal 12 April 2012. Jumlah Waran Seri 1 1 that were not exercised and had expired yang tidak dapat dilaksanakan dan telah totalled to 1,036,584,786 warrants. kadaluarsa adalah 1.036.584.786 waran. Pada tanggal 17 September 2013, Perusahaan On September 17, 2013, the Company has menyampaikan surat ke OJK dan Bursa Efek submitted a statement to OJK and Indonesia Indonesia (BEI) informasi mengenai rencana Stock Exchange (ISE) regarding the perolehan kembali saham Perusahaan yang reacquisition of Company’s capital stock diterbitkan dan tercatat di BEI (sebagai saham which was issued and recorded in ISE treasuri). Perolehan kembali saham treasuri (as treasury stocks). The reacquisition dilakukan pada tanggal 18 September 2013. transaction was consumated on Pada tanggal 30 Juni 2016 dan 31 Desember September 18, 2013. As of 2015, jumlah saham treasuri adalah sejumlah June 30, 2016 and December 31, 2015, the 98.755.000 lembar saham Perusahaan dengan Company’s treasury stocks totaled to harga perolehan Rp 300 - Rp 370 per lembar. 98,755,000 shares at Rp 300 - Rp 370 per share. Pada tanggal 30 Juni 2016 dan 31 Desember As of June 30, 2016 and December 31, 2015, seluruh saham Perusahaan atau 2015, all of the Company’s outstanding sejumlah 10.365.854.185 saham telah tercatat shares totaling to 10,365,854,185 shares are pada Bursa Efek Indonesia. listed in the Indonesia Stock Exchange.

c. Entitas anak yang Dikonsolidasikan

  c. Consolidated Subsidiaries

  Pada tanggal 31 Desember 2015 dan 2014, As of December 31, 2015 and 2014, the entitas anak yang dikonsolidasikan termasuk subsidiaries which were consolidated, persentase kepemilikan Perusahaan adalah including the respective percentages of sebagai berikut: ownership held by the Company, are as follows:

  Jumlah Aset 31 Desember Tahun Operasi Persentase Pemilikan (Sebelum Eliminasi)/ Komersial/ dan Hak Suara/ Total Assets as of December 31, Entitas Anak/ Domisili/ Jenis Usaha/ Start of Commercial Percentage of Ownership (Before Elimination)

  Subsidiary Domicile Nature of Business Operations 2015 2014 2015 2014 % % ’000’000 ’000’000 PT Taman Harapan Indah (THI) Jakarta Real estat/Real estate 1978 100,00 100,00 3.166.696 2.894.409

  PT Mutiara Raga Indah Jakarta Pusat kebugaran/Fitness center 1990 - 100,00 100,00 11.773 10.676 PT Sinar Puspa Persada (SPP) Tangerang Real estat/Real estate 1997 100,00 100,00 436.005 417.135 -

  PT Wirasejati Binapersada (WB) - Jakarta Real estat/Real estate 100,00 100,00 320.488 353.243 - PT Putra Sinar Permaja (PSP) Jakarta - Real estat/Real estate 2014 100,00 100,00 1.551.281 1.541.895

• PT badi Citra Lestari (ACL) Real estat/Real estate 100,00 9.951 - Jakarta PT Intisarana Ekaraya (ISER) -
• Jakarta Sub Holding 100,00 100,00 760.149 203>PT Gandaria Permai Jakarta Real estat/Real estate 2011 100,00 100,00 59.167 61.666
• PT Gandaria Prima Jakarta Real estat/Real estate 2013 100,00 100,00 686.593 609.780 Jakarta - - PT Gandaria Mulia Real estat/Real estate 100,00 100,00 4.885 4.903 Jakarta 100,00 4.825 4.849 - - PT Gandaria Sakti Real estat/Real estate 100,00
• PT Gunaprima Usaha Sejati Real estat/Real estate - Jakarta 100,00 100,00 4.906 4.932 PT Dinamika Kencana Mandiri (DKM) Jakarta - Real estat/Real estate 2008 100,00 100,00 5.428 5.688 PT Perkasalestari Utama (PLU) Jakarta Real estat/Real estate 2008 100,00 100,00 1.382.342 1.131.320 -
• PT Perkasalestari Permai (PLP) Jakarta Real estat/Real estate 2013 100,00 100,00 573.533 369>PT Perkasalestari Raya (PLR) Jakarta Real estat/Real estate 100,00 100,00 1.217 1.234
• PT Selasih Safar (SS) Jakarta Real estat/Real estate 1974 52,50 52,50 44.343 33.083

  _{Percentage of Ownership} dan Hak Suara/ Persentase Pemilikan

  Jumlah Aset 31 Desember Tahun Operasi (Sebelum Eliminasi)/ Komersial/ ^{Total Assets as of December 31,} Domisili/ Jenis Usaha/ ^{Start of Commercial (Before Elimination)} _{Domicile Nature of Business Operations} 2015 2014 2015 2014

  % % ’000’000 ’000’000 PT Intiland Grande (IG) Surabaya Real estat/Real estate 1974 100,00 100,00 2.711.611 2.679.774

  PT INTILAND DEVELOPMENT Tbk DAN ENTITAS ANAK Catatan atas Laporan Keuangan Konsolidasian

  30 Juni 2016 dan 31 Desember 2015 Serta Untuk Periode Enam Bulan yang Berakhir

  30 Juni 2016 dan 2015 (Angka-angka Disajikan dalam Rupiah, kecuali Dinyatakan Lain) PT INTILAND DEVELOPMENT Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements As of June 30, 2016 and December 31, 2015 And For the Six-Month Periods Ended June 30, 2016 and 2015 (Figures are presented in Rupiah, unless Otherwise Stated)

• PT Intiland Sejahtera (IS) Surabaya Kawasan Industri/Industrial Estate 1988 100,00 100,00 377.531 422.221

• - PT Maja Persada (MP) Surabaya Real estat/Real estate - 100,00 100,00 319

  31

• PT Kawasan Industri Intiland dahulu/ _formerly Dharmala RSEA Industrial Estate Surabaya (RSEA) Surabaya Kawasan Industri/Industrial Estate - 100,00 100,00 64.155 59.937
• PT Prima Sentosa Ganda (PSG) Surabaya Real estat/Real estate 2014 100,00 100,00 306.987 316.180
• PT Grande Family View (GFV) Surabaya Real estat/Real estate 1993 75,00 75,00 321.387 283.732
• PT Grande Imperial (GIM) Surabaya Real estat/Real estate 2013 100,00 100,00 113.667 120.111
• PT Kinerja Lancar Serasi (KLS) Surabaya Real estat/Real estate - 100,00 100,00 270.576 283.247
• PT Sinar Cemerlang Gemilang (SCG) Surabaya Real estat/Real estate - 100,00 100,00 318.341 302.265
• PT Kawasan Jombang (KJ) Surabaya Real estat/Real estate - 100,00 100,00 28.708 24.340
• PT Kawasan Ploso (KP) Surabaya Real estat/Real estate - 100,00 100,00 23.939 21.978
• PT Intiland Persada (IP) Surabaya Real estat/Real estate - 100,00 100,00

  6

  22

• PT Purisentosa Unggul (PSU) Surabaya Real estat/Real estate - 100,00 100,00 5.223 5.473
• Badan Kerjasama Intiland Starlight Surabaya Persewaan kantor/Office space 2010 75,00 75,00 92.287 99.401 PT Intiland Esperto (IE) Jakarta Real estat/Real estate 2008 100,00 100,00 217.049 234.503
• PT Inti Gria Perdana Jakarta Real estat/Real estate 2011 100,00 100,00 472.922 488.311
• PT Inti Gria Perkasa Jakarta Real estat/Real estate 2011 100,00 100,00 14.942 14.052
• PT Inti Gria Perwira Jakarta Real estat/Real estate 2012 100,00 100,00 46.887 46.388
• PT Inti Gria Persada Jakarta Real estat/Real estate - 100,00 100,00 4.958 4.971
• PT Inti Gria Pramudya Jakarta Real estat/Real estate - 51,00 51,00 37.180 36.834
• PT Inti Gria Palmarta Jakarta Real estat/Real estate - 100,00 100,00 4.969 4.982 PT Melati Anugerah Semesta (MAS) Surabaya Real estat/Real estate - 55,00 55,00 112.703 109.659 PT Melati Wahana Nusantara (MWN) Jakarta Real estat/Real estate - 100,00 100,00 36.332 27.863 PT Melati Impian Bangsa (MIB) Jakarta Real estat/Real estate - 100,00 100,00 12.193 4.911 PT Intiland Alfa Rendita Jakarta Real estat/Real estate - 100,00 - 25.177 -
• PT Inti Algoritma Perdana Jakarta Real estat/Real estate - 100,00 - 5.217 - Entitas Anak/ _Subsidiary

  Informasi keuangan entitas anak yang dimiliki oleh kepentingan nonpengendali dalam jumlah material pada tanggal dan untuk periode yang berakhir 30 Juni 2016 dan tahun yang berakhir

  31 Desember 2015 adalah sebagai berikut: Financial information of subsidiaries that have material non-controlling interests as of and for the period ended June 30, 2016 and for the year ended December 31, 2015 are as follows:

30 Juni 2016 / June 30, 2016

  

Bagian Kepentingan

Kepemilikan / Saldo Akumulasi/ Bagian Laba (Rugi)/ Equity Interest Held Accumulated Balances Share in Profit (Loss)

  

%

PT Grande Family View 25.00 42,934,441,064 1,938,063,421 PT Melati Anugerah Semesta 45.00 36,561,215,328 (925,665,377) Badan Kerjasama Intiland Starlight 25.00 9,459,600,714 577,122,661 PT Inti Gria Pramudya 49.00 2,339,680,042 (95,273,658) PT Selasih Safar 47.50 (2,113,641,902) (1,579,322,238)

  Kepentingan Nonpengendali yang material/ Material Non-controlling Interest

  Nama Anak Perusahaan/ Name of Subsidiary

  

Bagian Kepentingan

Kepemilikan / Saldo Akumulasi/ Bagian Laba (Rugi)/ Equity Interest Held Accumulated Balances Share in Profit (Loss)

  

%

PT Grande Family View 25.00 40,996,377,643 21,017,225,461 PT Melati Anugerah Semesta 45.00 37,486,880,704 (2,752,907,909) Badan Kerjasama Intiland Starlight 25.00 8,882,478,053 1,829,275,609 PT Inti Gria Pramudya 49.00 2,434,953,700 (6,331,432) PT Selasih Safar 47.50 (534,319,684) (2,510,133,929)

  Material Non-controlling Interest Name of Subsidiary Kepentingan Nonpengendali yang material/

  31 Desember 2015/December 31, 2015 Nama Anak Perusahaan/

  PT INTILAND DEVELOPMENT Tbk DAN ENTITAS ANAK Catatan atas Laporan Keuangan Konsolidasian

  29 Juni 2015 dari Humberg Lie, S.H., S.E., M.Kn., notaris di Jakarta. Akta pendirian ini telah disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia berdasarkan Surat Keputusan No. AHU 2446119.AH.01.01.Tahun 2015 tanggal 30 Juni 2015.

  IAP didirikan dengan nilai investasi sebesar Rp 5 miliar modal disetor dengan jumlah saham sebanyak 5.000 lembar saham dengan nilai nominal Rp 1.000.000 per saham.