Financial Statement - TABLE OF CONTENT Penjelasan tema financial highlight ikhtisar keuangan pe

PT Danayasa Arthatama Tbk

| Laporan T

ahunan 2013

76

Page

Laporan Auditor Independen/ Independent Auditors’ Report

Surat Pernyataan Direksi tentang Tanggung Jawab atas Laporan Keuangan PT Danayasa Arthatama Tbk dan Entitas Anak pada Tanggal 31 Desember 2013 dan 2012 dan 1 Januari 2012/31 Desember 2011 serta untuk Tahun-tahun yang Berakhir 31 Desember 2013 dan 2012/

The Directors’ Statement on the Responsibility for Consolidated Financial PT Danayasa Arthatama Tbk and Its Subsidiaries as of December 31, 2013 and 2012 and January 1, 2012/December 31, 2011 and for the Years Ended December 31, 2013 and 2012

LAPORAN KEUANGAN KONSOLIDASIAN - Pada tanggal 31 Desember 2013 dan 2012 dan

1 Januari 2012/31 Desember 2011 serta untuk tahun-tahun yang berakhir 31 Desember 2013 dan 2012/

CONSOLIDATED FINANCIAL STATEMENTS - As of December 31, 2013 and 2012 and

January 1, 2012/December 31, 2011 and for the years ended December 31, 2013 and 2012

Laporan Posisi Keuangan Konsolidasian/Consolidated Statements of Financial Position 1

Laporan Laba Rugi Komprehensif Konsolidasian/Consolidated Statements of Comprehensive

Income 3

Laporan Perubahan Ekuitas Konsolidasian/Consolidated Statements of Changes in Equity 4

Laporan Arus Kas Konsolidasian/Consolidated Statements of Cash Flows 5

PT DANAYASA ARTHATAMA Tbk DAN ENTITAS ANAK PT DANAYASA ARTHATAMA Tbk AND ITS SUBSIDIARIES Laporan Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position 31 Desember 2013 dan 2012 dan 1 Januari 2012/31 Desember 2011 December 31, 2013 and 2012 and January 1, 2012/December 31, 2011 (Angka-angka Disajikan dalam Ribuan Rupiah, kecuali Dinyatakan Lain) (Figures are Presented in Thousands of Rupiah, unless Otherwise Stated)

1 Januari 2012/ 31 Desember 2011/

January 1, 2012/

2012 December 31, 2011

(Disajikan Kembali - (Disajikan Kembali -Catatan 42/ Catatan 42/ Catatan/Notes ₂₀₁₃ _{As Restated - Note 42 )} _{As Restated - Note 42 )} ASET ASSETS ASET LANCAR CURRENT ASSETS

Kas dan setara kas 2,3,4,25,36,37,40 917.478.018 246.851.854 207.161.512 Cash and cash equivalents Investasi 2,3,5,25,37,40 402.237.000 - - Investments

Piutang usaha Trade accounts receivable Pihak berelasi 2,3,6,24,25,36,37 732.585 430.538 - Related parties

Pihak ketiga - setelah dikurangi cadangan Third parties - net of allowance for doubtful kerugian penurunan nilai sebesar Rp 952.834, accounts of Rp 952,834, Rp 658,222 and Rp 658.222 dan Rp 118.657 masing-masing pada Rp 118,657 as of December 31, 2013 and 2012 tanggal 31 Desember 2013 dan 2012 dan and January 1, 2012/December 31, 2011, 1 Januari 2012/31 Desember 2011 2,3,6,24,25,37,40 366.347.117 25.268.204 31.686.286 respectively

Pajak dibayar dimuka 2,7 13.613.599 8.126.436 4.295.078 Prepaid taxes Biaya dibayar dimuka 2,8,36 7.885.202 5.502.725 3.887.622 Prepaid expenses Piutang lain-lain 2,3,9,25,36,37,40 5.051.660 163.381.467 8.572.916 Other accounts receivable Persediaan - setelah dikurangi cadangan kerugian

penurunan nilai sebesar nihil pada tanggal Inventories - net of allowance for decline 31 Desember 2013 dan Rp 2.885.612 in value of nil as of December 31, 2013 pada tanggal 31 Desember 2012 dan and Rp 2,885,612 as of December 31 2012 1 Januari 2012/31 Desember 2011 2,3,10,15,42 29.804.670 138.884.765 138.914.362 and January 1, 2012/December 31, 2011 Aset lancar lain-lain 2,3,14,25,36,37,40,42 4.821.672 3.648.750 16.199.277 Other current assets

Jumlah Aset Lancar 1.747.971.523 592.094.739 410.717.053 Total Current Assets ASET TIDAK LANCAR NONCURRENT ASSETS

Piutang usaha - pihak ketiga 2,3,6,36,37,40 487.236.494 - - Trade accounts receivable - third party Persediaan - setelah dikurangi cadangan kerugian Inventories - net of allowance for decline

penurunan nilai sebesar Rp 6.007.600 2,3,10,42 1.335.058.042 1.222.857.275 1.076.652.931 in value of Rp 6,007,600 Investasi saham 2,3,5,25,36,37,42 5.888.557 5.888.533 10.888.485 Investments in shares of stock Aset pajak tangguhan 2,3,34 7.755.893 6.452.671 6.153.128 Deferred tax assets Properti investasi - setelah dikurangi akumulasi

penyusutan sebesar Rp 471.889.774, Investment properties - net of accumulated Rp 398.164.688 dan Rp 319.235.266 depreciation of Rp 471,889,774, Rp 398,164,688 masing-masing pada tanggal and Rp 319,235,266 as of December 31, 2013 31 Desember 2013 dan 2012 dan and 2012 and January 1, 2012/December 31, 2011, 1 Januari 2012/31 Desember 2011 2,3,11,12,24,30,36,38,42 1.279.138.335 1.164.895.385 1.051.689.451 respectively

Aset tetap - setelah dikurangi akumulasi

penyusutan sebesar Rp 421.504.578 Property and equipment - net of accumulated Rp 364.730.059 dan Rp 310.817.581 depreciation of Rp 421,504,578, Rp 364,730,059 masing-masing pada tanggal and Rp 310,817,581 as of December 31, 2013 31 Desember 2013 dan 2012 dan and 2012 and January 1, 2012/December 31, 2011, 1 Januari 2012/31 Desember 2011 2,3,12,31,36,42 500.035.013 528.672.416 610.765.517 respectively

Goodwill 2,3,13 19.255.456 19.255.456 19.255.456 Goodwill

Aset tidak lancar lain-lain 2,3,14,25,36,37,40 168.089.975 18.787.310 292.323.387 Other noncurrent assets

Jumlah Aset Tidak Lancar 3.802.457.765 2.966.809.046 3.067.728.355 Total Noncurrent Assets JUMLAH ASET 5.550.429.288 3.558.903.785 3.478.445.408 TOTAL ASSETS

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.

31 Desember/December 31,

-2012 December 31, 2011

(Disajikan Kembali - (Disajikan Kembali -Catatan 42/ Catatan 42/ Catatan/Notes ₂₀₁₃ _{As Restated - Note 42 )} _{As Restated - Note 42 )}

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

Utang bank jangka pendek 2,10,15,25,36,37,42 - 10.000.000 15.000.000 Short-tem bank loans Utang usaha 2,16,25,37,40 28.946.112 24.463.984 32.953.883 Trade accounts payable Utang pajak 2,17,34 23.254.877 8.361.471 12.691.626 Taxes payable Beban akrual 2,18,25,37,40 46.006.548 38.136.194 35.365.818 Accrued expenses Pendapatan diterima dimuka 2,19,42 70.490.465 49.837.378 100.785.972 Unearned revenues Liabilitas jangka pendek lain-lain 2,23,25,36,37,40,42 269.416.940 103.505.495 77.633.008 Other current liabilities Utang bank jangka panjang - yang akan

jatuh tempo dalam jangka waktu satu tahun 2,3,6,24,25,37,40,42 34.326.386 70.398.393 88.999.506 Current portion of long-term bank loans

Jumlah Liabilitas Jangka Pendek 472.441.328 304.702.915 363.429.813 Total Current Liabilities LIABILITAS JANGKA PANJANG NONCURRENT LIABILITIES

Utang pihak berelasi non-usaha 2,20,25,36,37,40 2.782.212 2.207.081 2.469.305 Due to related parties

Taksiran liabilitas untuk pembangunan prasarana, Estimated liability for infrastructure development, fasilitas umum dan sosial 3,21 146.995.227 48.450.625 48.450.625 public and social facilities

Liabilitas imbalan kerja jangka panjang 2,3,33,42 34.755.899 29.490.613 25.183.840 Long-term employee benefits liability Pendapatan diterima dimuka - setelah dikurangi 2,19,42 Unearned revenues - net of current portion

bagian yang jatuh tempo dalam satu tahun 18.563.078 12.009.216 10.258.182 within one year Pendapatan ditangguhkan 2,22,36 - - 1.468.449 Deferred revenues Liabilitas jangka panjang lain-lain 2,23,25,36,37,39,40,42 458.398.071 328.944.953 152.205.074 Other noncurrent liabilities Utang bank jangka panjang - setelah dikurangi

bagian yang jatuh tempo dalam satu tahun 2,3,6,11,24,25,37,40,42 121.320.214 176.548.070 269.596.102 Long-term bank loans - net of current portion

Jumlah Liabilitas Jangka Panjang 782.814.701 597.650.558 509.631.577 Total Noncurrent Liabilities Jumlah Liabilitas 1.255.256.029 902.353.473 873.061.390 Total Liabilities EKUITAS EQUITY

Ekuitas yang dapat diatribusikan kepada Equity attributable to owners of pemilik Perusahaan the Company

Modal saham - nilai nominal Rp 500 Capital stock - Rp 500 (in full Rupiah) par value (dalam Rupiah penuh) per saham per share

Modal dasar - 5.183.464.000 saham Authorized - 5,183,464,000 shares Modal ditempatkan dan disetor penuh

-3.322.092.000 saham 26 1.661.046.000 1.661.046.000 1.661.046.000 Issued and fully paid - 3,322,092,000 shares Tambahan modal disetor - bersih 2,27 75.686.864 75.686.864 75.686.864 Additional paid-in capital - net

Ekuitas pada perubahan ekuitas entitas anak 1,2 216.044.968 216.044.968 216.044.968 Share in changes in equity of subsidiaries Selisih kurs penjabaran 2 2 - - Translation adjustment

Saldo laba (defisit) 1.436.561.347 (273.899.196) (296.371.315) Retained earnings (deficit) Jumlah 3.389.339.181 1.678.878.636 1.656.406.517 Total

Kepentingan Nonpengendali 2,28 905.834.078 977.671.676 948.977.501 Noncontrolling Interests Jumlah Ekuitas 4.295.173.259 2.656.550.312 2.605.384.018 Total Equity

JUMLAH LIABILITAS DAN EKUITAS 5.550.429.288 3.558.903.785 3.478.445.408 TOTAL LIABILITIES AND EQUITY

-PT DANAYASA ARTHATAMA Tbk DAN ENTITAS ANAK PT DANAYASA ARTHATAMA Tbk AND ITS SUBSIDIARIES Laporan Laba Rugi Komprehensif Konsolidasian Consolidated Statements of Comprehensive Income Untuk Tahun-tahun yang Berakhir 31 Desember 2013 dan 2012 For the Years Ended December 31, 2013 and 2012 (Angka-angka Disajikan dalam Ribuan Rupiah, kecuali Dinyatakan Lain) (Figures are Presented in Thousands of Rupiah, unless Otherwise Stated)

Catatan/

2013 Notes 2012

PENDAPATAN USAHA 2.730.844.761 2,29,36 684.916.111 REVENUES BEBAN POKOK PENJUALAN 350.906.535 2,11,30,33 173.923.714 COST OF REVENUES LABA KOTOR 2.379.938.226 510.992.397 GROSS PROFIT

BEBAN USAHA 2 OPERATING EXPENSES

Penjualan 24.293.366 20.645.307 Selling

Umum dan administrasi 737.697.517 12,31,33,36 379.649.837 General and administrative Jumlah Beban Usaha 761.990.883 400.295.144 Total Operating Expenses

LABA USAHA 1.617.947.343 110.697.253 INCOME FROM OPERATIONS PENGHASILAN (BEBAN) LAIN-LAIN 2 OTHER INCOME (EXPENSES)

Pendapatan sewa dan pengelolaan kawasan 48.671.767 2,32 36.623.643 Revenues from rental and estate management Pendapatan bunga 15.068.824 6.124.963 Interest income

Cadangan kerugian penurunan nilai (294.612) 2,3,6,9 (539.565) Provision for doubtful accounts Keuntungan (kerugian) selisih kurs

mata uang asing - bersih 253.522.903 (20.937.273) Gain (loss) on foreign exchange - net Beban bunga dan beban keuangan lainnya (20.304.775) 15,24,36 (28.630.188) Interest and other financial charges Lain-lain - bersih (11.039.026) 7.781.497 Others - net

Penghasilan Lain-lain - Bersih 285.625.081 423.077 Other Income - Net

LABA SEBELUM PAJAK 1.903.572.424 111.120.330 INCOME BEFORE TAX BEBAN (PENGHASILAN) PAJAK 2,34 TAX (BENEFIT) EXPENSE

Pajak kini 150.351.435 41.953.375 Current tax Pajak tangguhan (1.303.222) (299.543) Deferred tax Beban Pajak - Bersih 149.048.213 41.653.832 Tax Expense - Net

LABA BERSIH 1.754.524.211 69.466.498 NET INCOME

PENDAPATAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME

Selisih kurs penjabaran 2 2 - Translation adjustment

JUMLAH LABA KOMPREHENSIF 1.754.524.213 69.466.498 TOTAL COMPREHENSIVE INCOME Laba bersih yang dapat diatribusikan kepada: Net income attributable to:

Pemilik Perusahaan 1.710.460.543 35 22.472.119 Owners of the Company Kepentingan nonpengendali 44.063.668 2 46.994.379 Noncontrolling interests

1.754.524.211 69.466.498

Laba komprehensif yang dapat

diatribusikan kepada: Comprehensive income attributable to:

Pemilik Perusahaan 1.710.460.545 35 22.472.119 Owners of the Company Kepentingan nonpengendali 44.063.668 2,28 46.994.379 Noncontrolling interests

1.754.524.213 69.466.498

LABA BERSIH PER SAHAM DASAR BASIC EARNINGS PER SHARE (dalam Rupiah penuh) 514,87 2,35 6,76 (in full Rupiah)

-Transaksi Restrukturisasi

Entitas Sepengendali/ Ekuitas pada Diffrence

Tambahan Perubahan in Value of

Modal Disetor- Ekuitas Entitas Restructuring

Modal Bersih/ Anak/ Transactions Selisih Kurs Saldo Laba Kepentingan Jumlah Saham/ Additional Share in Among Penjabaran/ (Defisit)/ Nonpengendali/ Ekuitas/

Capital Paid-in Changes in Equity Entities Under Translation Retained Earnings Jumlah/ Noncontrolling Total Stock Capital- Net

of Subsidiaries ^{Common Control} Âdjustment ^(Deficit) ^Total Înterests Êquity

Saldo pada tanggal 1 Januari 2012, Balance as of January 1, 2012, sebelum reklasifikasi 1.661.046.000 76.430.000 216.044.968 (743.136) - (296.371.315) 1.656.406.517 948.977.501 2.605.384.018 before reclassification Reklasifikasi ke tambahan modal Reclassifications to additional

disetor - (743.136) - 743.136 - - - - - paid-in capital Saldo pada tanggal 1 Januari 2012, Balance as of January 1, 2012

setelah reklasifikasi 1.661.046.000 75.686.864 216.044.968 - - (296.371.315) 1.656.406.517 948.977.501 2.605.384.018 after reclassification Dividen tunai entitas anak kepada Cash dividends of subsidiaries

kepentingan nonpengendali - - - - - - - (18.300.204) (18.300.204) to noncontrolling interest Jumlah laba komprehensif - - - - - 22.472.119 22.472.119 46.994.379 69.466.498 Total comprehensive income Saldo pada tanggal 31 Desember 2012 1.661.046.000 75.686.864 216.044.968 - - (273.899.196) 1.678.878.636 977.671.676 2.656.550.312 Balance as of December 31, 2012 Laba bersih - - - - - 1.710.460.543 1.710.460.543 44.063.668 1.754.524.211 Net income

Selisih kurs penjabaran - - - - 2 - 2 - 2 Translation adjustment Jumlah laba komprehensif - - - - 2 1.710.460.543 1.710.460.545 44.063.668 1.754.524.213 Total comprehensive income Dividen tunai entitas anak kepada Cash dividends of subsidiaries

kepentingan nonpengendali - - - - - - - (115.901.071) (115.901.071) to noncontrolling interests Bagian kepentingan nonpengendali atas Noncontrolling interest's share in reduction

penurunan modal disetor entitas anak - - - - - - - (195) (195) in capital of a subsidiary Saldo pada tanggal 31 Desember 2013 1.661.046.000 75.686.864 216.044.968 - 2 1.436.561.347 3.389.339.181 905.834.078 4.295.173.259 Balance as of December 31, 2013

-PT DANAYASA ARTHATAMA Tbk DAN ENTITAS ANAK PT DANAYASA ARTHATAMA Tbk AND ITS SUBSIDIARIES Laporan Arus Kas Konsolidasian Consolidated Statements of Cash Flows Untuk Tahun-tahun yang Berakhir 31 Desember 2013 dan 2012 For the Years Ended December 31, 2013 and 2012 (Angka-angka Disajikan dalam Ribuan Rupiah, kecuali Dinyatakan Lain) (Figures are Presented in Thousands of Rupiah, unless Otherwise Stated)

2013 2012

ARUS KAS DARI AKTIVITAS OPERASI CASH FLOWS FROM OPERATING ACTIVITIES

Penerimaan dari pelanggan 2.228.967.485 692.885.171 Cash receipts from customers Pembayaran kas untuk/kepada Cash paid for/to suppliers, employees

pemasok, karyawan dan lainnya (825.630.132) (581.879.765) and others

Penerimaan setoran jaminan 152.038.638 196.224.593 Security deposits received Kas bersih dihasilkan dari operasi 1.555.375.991 307.229.999 Net cash generated from operations Pembayaran pajak penghasilan (148.435.170) (44.500.145) Income taxes paid

Kas Bersih Diperoleh dari Aktivitas Operasi 1.406.940.821 262.729.854 Net Cash Provided by Operating Activities

ARUS KAS DARI AKTIVITAS INVESTASI CASH FLOWS FROM INVESTING ACTIVITIES

Penjualan saham - 8.320.000 Sale of investment in shares Penambahan investasi (338.479.971) (326.053) Additional of investments Penerimaan bunga 15.035.250 6.124.963 Interest received

Hasil penjualan aset tetap 706.053 784.964 Proceeds from sale of property and equipment Pengembalian uang muka 161.834.458 118.445.810 Refund of advances

Perolehan aset lain-lain (149.427.828) (10.374.115) Acquisition of other assets Perolehan properti investasi (215.852.377) (137.676.032) Acquisition of investment properties Perolehan aset tetap (29.363.357) (28.847.073) Acquisition of property and equipment Kas Bersih Digunakan untuk Aktivitas Investasi (555.547.772) (43.547.536) Net Cash Used in Investing Activities

ARUS KAS DARI AKTIVITAS PENDANAAN CASH FLOWS FROM FINANCING ACTIVITIES

Kenaikan (penurunan) bersih saldo utang/ Net increase (decrease) in amounts due to/ piutang pihak berelasi non-usaha - (399.625) from related parties

Pembayaran: Payments of: Utang bank (147.067.900) (139.595.000) Bank loans

Bunga dan beban keuangan lain (19.444.113) (27.316.950) Interest and other financial charges Dividen kepada kepentingan nonpengendali Dividends to noncontrolling interest

entitas anak (113.774.235) (18.299.520) of subsidiaries

Kas Bersih Digunakan untuk Aktivitas Pendanaan (280.286.248) (185.611.095) Net Cash Used in Financing Activities

KENAIKAN BERSIH KAS DAN SETARA KAS 571.106.801 33.571.223 NET INCREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT THE BEGINNING KAS DAN SETARA KAS AWAL TAHUN 246.851.854 207.161.512 OF THE YEAR

Pengaruh perubahan kurs mata uang asing 99.519.363 6.119.119 Effect of foreign exchange rate changes

SALDO KAS DAN SETARA KAS AKHIR TAHUN 917.478.018 246.851.854 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR

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. 5

-(Angka-angka Disajikan dalam Ribuan Rupiah, kecuali Dinyatakan Lain)

(Figures are Presented in Thousands of Rupiah, unless Otherwise Stated)

- 6

-1. Umum 1. General

a. Pendirian dan Informasi Umum a. Establishment and General Information

PT Danayasa Arthatama Tbk (Perusahaan) didirikan pada tanggal 1 April 1987 berdasarkan Akta No. 9 tanggal 1 April 1987 yang dibuat dihadapan Misahardi Wilamarta, S.H., notaris di Jakarta. Akta pendirian ini disahkan oleh Menteri Kehakiman Republik Indonesia dalam Surat Keputusan No. C2-7255.HT.01.01.TH.87 tanggal 13 November 1987 serta diumumkan dalam Berita Negara No. 27 tanggal 3 April 1990, Tambahan No. 1260. Anggaran Dasar Perusahaan telah mengalami beberapa kali perubahan, terakhir dengan Akta No. 83 tanggal 23 Juni 2008 dari Fathiah Helmi, S.H., notaris di Jakarta, sehubungan dengan penyesuaian Anggaran Dasar Perusahaan terhadap Undang-Undang Republik Indonesia No. 40 Tahun 2007 tentang Perseroan Terbatas. Perubahan Anggaran Dasar tersebut telah disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dengan Surat Keputusan No. AHU-85013.AH.01.02.Tahun 2008 tanggal 12 November 2008, serta diumumkan dalam Berita Negara Republik Indonesia No. 52 tanggal 30 Juni 2009, Tambahan No. 17002.

PT Danayasa Arthatama Tbk (the Company) was established on April 1, 1987 based on Notarial Deed No. 9 dated April 1, 1987 of Misahardi Wilamarta, S.H., public notary in Jakarta. The Deed of Establishment was approved by the Ministry of Justice of the Republic of Indonesia in its Decision Letter No. C2-7255.HT.01.01.TH.87 dated November 13, 1987, and was published in State Gazette of the Republic of Indonesia No. 27 dated April 3, 1990, Supplement No. 1260. The Company’s Articles of Association have been amended several times, the latest amendment of which was covered by Notarial Deed No. 83 dated June 23, 2008 of Fathiah Helmi, S.H., public notary in Jakarta concerning the revisions in the Articles of Association to conform with the provisions of Republic of Indonesia Law No. 40/2007 regarding the Limited Liability company. This amendment has been approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-85013.AH.01.02.Tahun 2008 dated November 12, 2008, and was published in the State Gazette of the Republic of Indonesia No. 52 dated June 30, 2009, Supplement No. 17002.

Sesuai dengan pasal 3 Anggaran Dasar Perusahaan, ruang lingkup kegiatan Perusahaan meliputi usaha pembangunan perumahan (real-estat), perkantoran, pertokoan dan pusat niaga beserta fasilitas-fasilitasnya; menyewakan bangunan-bangunan, ruangan-ruangan kantor dan ruangan-ruangan pertokoan beserta fasilitas-fasilitasnya; menyediakan sarana dan prasarana dan melaksanakan pembangunan, pengusahaan dan pengembangan pembangunan kawasan niaga terpadu. Saat ini, Perusahaan sedang mengembangkan area sekitar 45 hektar yang terletak di Jalan Jenderal Sudirman, Jakarta Selatan, yang dikenal dengan nama Kawasan Niaga Terpadu Sudirman (KNTS).

In accordance with article 3 of the Company’s Articles of Association, the scope of its activities comprises development of real estate and property, office building, shopping centers and related facilities; rental of buildings, office spaces, shopping centers and related facilities; and provide infrastructure, develop and manage the area in the central business district. The Company is currently developing approximately 45 hectares of land property located along Jalan Jenderal Sudirman, South Jakarta, which property is known as Sudirman Central Business District (SCBD).

PT DANAYASA ARTHATAMA Tbk DAN ENTITAS ANAK

Catatan atas Laporan Keuangan Konsolidasian 31 Desember 2013 dan 2012 dan

1 Januari 2012/31 Desember 2011 serta untuk Tahun-tahun yang Berakhir 31 Desember 2013 dan 2012 (Angka-angka Disajikan dalam Ribuan Rupiah, kecuali Dinyatakan Lain)

PT DANAYASA ARTHATAMA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements As of December 31, 2013 and 2012 and January 1, 2012/December 31, 2011 and for the Years Ended December 31, 2013 and 2012 (Figures are Presented in Thousands of Rupiah, unless Otherwise Stated)

- 7 -Perusahaan memulai kegiatan operasionalnya sejak tahun 1989. Kantor pusat Perusahaan berkedudukan di Gedung Artha Graha - Lantai 12, Kawasan Niaga Terpadu Sudirman (KNTS), Jalan Jenderal Sudirman Kav. 52 - 53, Jakarta.

The Company started its commercial operations in 1989. The Company’s head office is located at Artha Graha Building -12^th Floor, Sudirman Central Business District, Jalan Jenderal Sudirman Kav. 52 - 53, Jakarta.

Dalam laporan keuangan konsolidasian, Perusahaan dan entitas anak secara bersama-sama disebut sebagai “Grup”.

In the consolidated financial statements, the Company and its subsidiaries are collectively referred to as “the Group”.

b. Penawaran Umum Efek Perusahaan b. Public Offering of the Company’s Shares

Pada tanggal 28 Maret 2002, Perusahaan memperoleh pernyataan efektif dari Ketua Badan Pengawas Pasar Modal (Bapepam atau Badan Pengawas Pasar Modal dan Lembaga Keuangan atau Bapepam dan LK) *) dengan Surat Keputusan No. S-615/PM/2002 untuk melakukan penawaran umum perdana atas 100.000.000 saham Perusahaan kepada masyarakat dengan harga nominal sebesar Rp 500 (dalam Rupiah penuh) per saham dan harga penawaran sebesar Rp 500 (dalam Rupiah penuh) per saham. Saham-saham tersebut dicatatkan pada Bursa Efek Indonesia pada tanggal 19 April 2002.

On March 28, 2002, the Company has received the Notice of Effectivity from the Capital Market Supervisory Agency (Bapepam or the Capital Market and Financial Institutions Supervisory Agency or Bapepam-LK) *) in its Decision Letter No. S-615/PM/2002 in connection with the Company’s initial public offering of 100,000,000 shares, with nominal value of Rp 500 (in full Rupiah) per share, and with initial offering price of Rp 500 (in full Rupiah) per share. All shares have been registered in the Indonesia Stock Exchange on April 19, 2002.

Pada tanggal 6 September 2004, Perusahaan memperoleh pernyataan efektif dari Bapepam dan LK (sekarang Otoritas Jasa Keuangan) dengan Surat Keputusan No. S-2837/PM/2004 untuk melakukan Penawaran Umum Terbatas I kepada pemegang saham Perusahaan dalam rangka penerbitan hak memesan efek terlebih dahulu sebanyak 630.360.000 saham dengan harga nominal sebesar Rp 500 (dalam Rupiah penuh) per saham dan harga penawaran sebesar Rp 625 (dalam Rupiah penuh) per saham. Saham-saham tersebut telah dicatatkan pada Bursa Efek Indonesia pada tanggal 23 September 2004.

On September 6, 2004, the Company has received the Notice of Effectivity from Bapepam-LK (currently Financial Services Authority) in its Decision Letter No. S-2837/PM/2004 in connection with the Company’s Preemptive Right Issue I of 630,360,000 shares, with a nominal value of Rp 500 (in full Rupiah) per share, and offering price of Rp 625 (in full Rupiah) per share. The shares have been registered in the Indonesia Stock Exchange on September 23, 2004.

*) Sejak tanggal 31 Desember 2012, fungsi, tugas dan wewenang kegiatan jasa keuangan di sektor pasar modal, perasuransian, dana pensiun, lembaga pembiayaan dan lembaga jasa keuangan lainnya beralih dari Menteri Keuangan dan Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam dan LK) ke Otoritas Jasa Keuangan (OJK)/

Starting December 31, 2012, the functions, duties and authorities of regulating and monitoring the financial service activities in capital market sector, insurance, pension fund, multi-finance, and other financial services were transferred from the Minister of Finance, and the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) to the Financial Services Authority (OJK).

(Angka-angka Disajikan dalam Ribuan Rupiah, kecuali Dinyatakan Lain)

(Figures are Presented in Thousands of Rupiah, unless Otherwise Stated)

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-c. Entitas Anak yang Dikonsolidasikan c. Consolidated Subsidiaries

Pada tanggal 31 Desember 2013 dan 2012 dan 1 Januari 2012/31 Desember 2011, Perusahaan memiliki penyertaan saham, langsung atau tidak langsung, dalam entitas anak berikut:

As of December 31, 2013 and 2012 and January 1, 2012/December 31, 2011, the Company has ownership interests, directly or indirectly, in the following subsidiaries:

1 Januari 2012/ 1 Januari 2012/ Berdiri/ 31 Desember 2011/ 31 Desember 2011/ Bidang Usaha/ Year of January 1, 2012 January 1, 2012 Scope of Activities Establishment 2013 2012 December 31, 2011 2013 2012 December 31, 2011

Pemilikan Langsung/Direct Ownership

Delfina Group Holdings Limited (Delfina) Penyertaan saham/ 2005 64 64 64 1.876.131.698 1.980.988.977 2.069.797.908

Holding Company

PT Citra Adisarana (CA) Pembangunan dan pengelolaan hotel serta 1995 100 100 100 855.625.509 83.525.634 83.525.634 gedung perkantoran/

Hotel construction and management, and office building management

PT Grahamas Adisentosa (GA) Pembangunan dan pengelolaan gedung serta 1995 100 100 100 496.492.322 403.351.116 234.066.129 kegiatan yang berkaitan/