PT MITRA INTERNATIONAL RESOURCES Tbk (d/h / formerly PT MITRA RAJASA Tbk) DAN ANAK PERUSAHAAN / AND SUBSIDIARIES

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PT MITRA INTERNATIONAL RESOURCES Tbk (d/h / formerly PT MITRA RAJASA Tbk)

DAN ANAK PERUSAHAAN / AND SUBSIDIARIES

LAPORAN KEUANGAN KONSOLIDASI

UNTUK PERIODE TIGA BULAN YANG BERAKHIR PADA TANGGAL-TANGGAL 31 MARET 2010 DAN 2009

TIDAK DIAUDIT

CONSOLIDATED FINANCIAL STATEMENTS

FOR THREE MONTHS PERIOD ENDED MARCH 31, 2010 AND 2009 TIDAK DIAUDIT

UNAUDITED

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NERACA KONSOLIDASI PER 31 MARET 2010 DAN 2009 i CONSOLIDATED BALANCE SHEETS AS OF MARCH 31, 2010 AND 2009

LAPORAN LABA RUGI KONSOLIDASI UNTUK PERIODE TIGA BULAN YANG BERAKHIR

PADA TANGGAL-TANGGAL 31 MARET 2010 DAN 2009 iv

CONSOLIDATED STATEMENTS OF INCOME FOR THREE MONTHS PERIOD ENDED MARCH 31, 2010 AND 2009

LAPORAN PERUBAHAN EKUITAS KONSOLIDASI UNTUK PERIODE TIGA BULAN YANG

BERAKHIR PADA TANGGAL-TANGGAL 31 MARET 2010 DAN 2009 v

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY FOR THREE MONTHS PERIOD ENDED MARCH 31, 2010 AND 2009

LAPORAN ARUS KAS KONSOLIDASI UNTUK PERIODE TIGA BULAN YANG BERAKHIR

PADA TANGGAL-TANGGAL 31 MARET 2010 DAN 2009 vi

CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THREE MONTHS PERIOD ENDED MARCH 31, 2010 AND 2009

CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASI 1

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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ASET LANCAR CURRENT ASSETS

Kas dan Setara Kas 2c,2d,3&29 1.083.758.065.993 737.965.690.701 Cash and Cash Equivalents

Rekening Bank yang Dibatasi Penggunaannya 2c,2d,4&29 22.968.751.775 57.776.276.825 Restricted Cash in Banks Investasi Jangka Pendek - Bersih 2c,2e&29 31.550.800 43.175.728.469 Short-term Investment - Net

Piutang Usaha : Trade Receivables :

- Pihak Hubungan Istimewa - Bersih 2c,2f,2k,5&25 1.209.398.661 830.771.667 - Related Parties - Net

- Pihak Ketiga - Setelah Dikurangi Penyisihan - Third Parties - Net of Allowance for

Piutang Tak Tertagih sebesar Doubtful Accounts amounting to

Rp 19.478.402.657 per 31 Maret 2010 Rp 19,478,402,657 as of March 31,

(2009 : Rp 16.633.388.538) 2c,2f,5,13&29 477.445.977.821 660.802.833.661 2010 (2009 : Rp 16.633.388.538)

Piutang Lain-lain : Other Receivables :

- Pihak Hubungan Istimewa 2c,2k&25 7.265.320.288 5.554.811.187 - Related Parties

- Pihak Ketiga 2c 19.499.195.559 9.392.277.223 - Third Parties

Persediaan - Bersih 2c,2g,6&29 180.061.699.555 225.145.759.372 Inventories - Net

Pajak Dibayar di Muka 11 178.796.699.220 133.763.512.815 Prepaid Taxes

Biaya Dibayar di Muka 2c,7&29 47.656.343.568 47.328.874.310 P r e p a y m e n t s

Jumlah Aset Lancar 2.018.693.003.240 1.921.736.536.230 Total Current Assets

ASET TIDAK LANCAR NON CURRENT ASSETS

Piutang Hubungan Istimewa 2c,2k&25 584.793.707 456.478.746 Due from Related Parties Rekening Bank yang Dibatasi Penggunaannya 2c,2d,4&29 53.583.694.220 80.843.747.075 Restricted Cash in Banks

Property and Equipment - Net of

Aset Tetap - Setelah Dikurangi Akumulasi Accumulated Depreciation of

Penyusutan sebesar Rp 3.727.213.251.302 Rp 3,727,213,251,302 as of

per 31 Maret 2010 March 31, 2010

(2009 : Rp 3.740.942.979.828) 2c,2h,2i,8&13 6.628.111.984.193 9.826.444.026.845 (2009 : Rp 3,740,942,979,828) Aset Pajak Tangguhan 2o & 11 346.749.146 154.558.747 Deferred Tax Assets

Goodwill - Bersih 2c,2b&9 396.877.396.812 1.272.660.439.619 Goodwill - Net

Uang Muka Pembelian 2c,7&29 52.075.055.257 50.925.759.383 Advances for Purchases

Aset Lain-lain 2c&29 821.308.392 103.041.644.392 Other Assets

Biaya Ditangguhkan - Bersih 961.206.374 - Deferred Charges - Net Tagihan Kelebihan Pajak Penghasilan 11 685.070.893 482.907.153 Refundable Income Tax

Jumlah Aset Tidak Lancar 7.134.047.258.994 11.335.009.561.959 Total Non Current Assets

JUMLAH ASET 9.152.740.262.234 13.256.746.098.189 TOTAL ASSETS

Lihat Catatan atas Laporan Keuangan Konsolidasi yang merupakan bagian yang tidak terpisahkan dari Laporan

Keuangan Konsolidasi secara keseluruhan

See accompanying Notes to the Consolidated Financial Statements which are an integral part of these Consolidated

Financial Statements

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KEWAJIBAN LANCAR CURRENT LIABILITIES

Hutang Bank dan Lembaga Keuangan 2c,5,13,24&29 5.421.765.925.071 2.043.342.772.748 Banks and Financial Institutions Loans Hutang Usaha kepada Pihak Ketiga 2c,10&29 166.856.960.848 181.002.383.755 Trade Payables - Third Parties

Hutang Lain-lain 23.970.957.098 4.010.487.129 Other Payables

Hutang Pajak 11 27.667.852.670 109.097.093.228 Taxes Payable

Beban Masih Harus Dibayar 2c,12&29 822.359.585.229 318.554.280.586 Accrued Expenses

Surat Sanggup 2c&16 54.690.000.000 69.450.000.000 Promissory Notes

Kewajiban Jangka Panjang - Bagian yang

Jatuh Tempo dalam Waktu Satu Tahun : Long-term Liabilities - Current Maturities :

- Hutang Bank dan Lembaga Keuangan 2c,4,5,13,24&29 15.523.805.742 17.797.173.584 - Banks and Financial Institution Loans

- Hutang Pembiayaan Konsumen 1.084.709.115 1.852.612.260 - Consumer Financing Loans

- Hutang Hubungan Istimewa 2c,2k,25&29 159.099.068.028 138.900.000.000 - Due to Related Parties

- Obligasi - Bersih 14 1.915.975.379.015 - - Bonds - Net

Kewajiban Lancar Lain-lain 147.389.904 53.333.333 Other Current Liabilities

Jumlah Kewajiban Lancar 8.609.141.632.720 2.884.060.136.623 Total Current Liabilities

KEWAJIBAN TIDAK LANCAR NON CURRENT LIABILITIES

Kewajiban Pajak Tangguhan 2o & 11 1.033.196.075.665 1.608.799.719.946 Deferred Tax Liability Kewajiban Imbalan Kerja 2l & 17 68.855.253.413 68.502.917.353 Employee Benefits Liabilities Kewajiban Derivatif 2c,15&29 - 219.009.243.181 Derivative Liabilities Kewajiban Jangka Panjang - Setelah Dikurangi

Bagian yang Jatuh Tempo dalam Waktu Long-term Liabilities - Net of Current

Satu Tahun : Maturities :

- Hutang Bank dan Lembaga Keuangan 2c,4,5,13,24&29 384.837.033.782 4.863.941.810.534 - Banks and Financial Institution Loans

- Hutang Pembiayaan Konsumen 3.501.524.686 4.397.654.603 - Consumer Financing Loans

- Hutang Hubungan Istimewa 2c,2k,25&29 141.761.101.394 185.521.153.992 - Due to Related Parties

- Obligasi - Bersih 14 595.033.860.057 2.246.448.405.785 - Bonds - Net

Goodwill Negatif - Bersih 2b & 9 42.512.534 Negative Goodwill - Net

Jumlah Kewajiban Tidak Lancar 2.227.227.361.530 9.196.620.905.393 Total Non Current Liabilities

Jumlah Kewajiban 10.836.368.994.251 12.080.681.042.016 Total Liabilities

HAK MINORITAS ATAS ASET MINORITY INTEREST IN NET ASSETS

BERSIH ANAK PERUSAHAAN 2b 66.757.960.817 174.901.804.233 OF SUBSIDIARIES

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EKUITAS (DEFISIENSI MODAL) (CAPITAL DEFICIENCY)

Modal Saham - nilai nominal Rp 125 per saham Capital Stock - Rp 125 per share as of

per 31 Maret 2010 dan 2009 March 31, 2010 and 2009

Modal Dasar - 12.000.000.000 saham per Authorized - 12,000,000,000 shares

31 Maret 2010 (2009 : 4.800.000.000 saham) as of March 31, 2009

(2009 : 4,800,000,000 shares)

Modal Ditempatkan dan Disetor - Subscribed and Fully Paid -

3.961.403.058 saham per 31 Maret 2010 3,961,403,058 shares as of

(2009 : 3.959.906.718 saham) 1b,18,19&20 495.175.382.250 494.988.339.750 March 31, 2009

(2009 : 3.959.906.718 saham) Tambahan Modal Disetor 1b,18,19&20 974.377.310.292 974.158.844.652 Additional Paid-in Capital

Difference Arising from Restructuring

Selisih Nilai Transaksi Restrukturisasi Transaction among Entities under

Entitas Sepengendali 2m 615.377.527 615.377.527 Common Control

Selisih Transaksi Perubahan Ekuitas Difference Arising from Subsidiary

Anak Perusahaan (653.339.416) Equity

Selisih Kurs karena Penjabaran Laporan Keuangan 2c 296.313.125.227 145.661.029.332 Difference in Foreign Currency Translation

Saldo Rugi (3.516.867.888.130) (613.606.999.905) D e f i c i t

Total Stockholders' Equity (Capital

Jumlah Ekuitas (Defisiensi Modal) (1.750.386.692.834) 1.001.163.251.940 Deficiency)

TOTAL LIABILITIES AND

JUMLAH KEWAJIBAN DAN EKUITAS STOCKHOLDERS' EQUITY

(DEFISIENSI MODAL) 9.152.740.262.234 13.256.746.098.189 (CAPITAL DEFICIENCY)

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iv

Notes 2 0 1 0 2 0 0 9

P E N G H A S I L A N 2c,2o,21&25 575.179.290.888 873.843.186.984 R E V E N U E S BEBAN LANGSUNG 2c,2o&22 (444.945.829.895) (534.633.951.153) DIRECT COST LABA KOTOR 130.233.460.992 339.209.235.831 GROSS PROFIT BEBAN USAHA 2c,2o&23 (33.083.871.524) (33.580.492.719) OPERATING EXPENSES LABA USAHA 97.149.589.469 305.628.743.112 INCOME FROM OPERATIONS PENGHASILAN (BEBAN) LAIN-LAIN

- BERSIH 2c,2o&24 OTHER INCOME (CHARGES) - NET

Bunga dan Denda Hutang Bank 13 (243.142.021.624) (232.261.795.746) Bank Interest and Penalties Laba (Rugi) atas Transaksi Derivatif 15 (11.110.047.456) 67.594.416.695 Gain (Loss) on Derivative Transactions Rugi atas Pelunasan Hutang Lebih Awal 13 - - Loss on Pre-termination of Loan Bunga Obligasi 14 (69.675.293.672) (86.132.456.225) Bond Interest

Amortisasi Biaya Emisi Obligasi 2q & 14 (13.010.692.150) (1.919.820.479) Amortization of Bond Issuance Cost Rugi Selisih Kurs - Bersih 2c (24.213.636.287) (24.934.811.063) Loss on Foreign Exchange - Net Amortisasi Goodwill - Bersih 2b & 9 (5.682.040.071) (17.293.709.737) Amortization of Goodwill - Net Pajak dan Denda Pajak 11 (4.344.109.184) (3.972.846.933) Taxes and Tax Penalties Amortisasi Biaya Emisi Pinjaman 2q & 13 (66.098.161.927) (58.487.062.404) Amortization of Loan Issuance Cost Lain-lain - Bersih 24 5.626.521.548 (15.960.039.758) Others - Net

Jumlah Beban Lain-lain - Bersih (431.649.480.821) (373.368.125.650) Total Other Charges - Net

RUGI SEBELUM TAKSIRAN LOSS BEFORE PROVISION

PAJAK PENGHASILAN (334.499.891.352) (67.739.382.538) FOR INCOME TAX

TAKSIRAN PAJAK PENGHASILAN 2p & 13 PROVISION FOR INCOME TAX

Pajak Kini (13.616.333.552) (79.973.839.735) Current Tax

Pajak Tangguhan 23.239.565.880 27.911.925.394 Deferred Tax

RUGI SEBELUM HAK MINORITAS (324.876.659.024) (119.801.296.879) LOSS BEFORE MINORITY INTEREST MINORITY INTEREST IN NET LOSS

HAK MINORITAS ATAS RUGI BERSIH OF CONSOLIDATED

ANAK PERUSAHAAN 2b 32.477.563.081 3.949.373.536 SUBSUDIARIES RUGI BERSIH (292.399.095.943) (115.851.923.344) NET LOSS

RUGI BERSIH PER SAHAM DASAR 2q & 28 (73,81) (29,26) NET LOSS PER SHARE RUGI BERSIH PER SAHAM DILUSIAN 2q & 28 (66,18) (26,23) NET LOSS PER DILUTED SHARE

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Notes Fully Paid Capital Control Translation Equity Deficit T o t a l

SALDO PER 1 JANUARI 2009 494.981.777.250 974.151.179.652 615.377.527 96.982.048.563 (497.755.076.561) 1.068.975.306.431 BALANCE AS OF JANUARY 1, 2009

ADJUSTMENT DUE TO CHANGES IN PELAKSANAAN WARAN 20 6.562.500 7.665.000 - - - 14.227.500 PROCEEDS FROM WARRANT

SELISIH KURS KARENA PENJABARAN DIFFERENCE IN FOREIGN CURRENCY

LAPORAN KEUANGAN 2c - - - 48.678.980.769 - 48.678.980.769 TRANSLATION

SELISIH TRANSAKSI PERUBAHAN EKUITAS DIFFERENCE ARISING FROM CHANGES IN

ANAK PERUSAHAAN - - - - (653.339.416) - (653.339.416) SUBSIDIARIES' EQUITY RUGI BERSIH 31 MARET 2009 - - - - (115.851.923.344) (115.851.923.344) NET LOSS MARCH 31, 2009 SALDO PER 31 MARET 2009 494.988.339.750 974.158.844.652 615.377.527 145.661.029.332 (653.339.416) (613.606.999.905) 1.001.163.251.940 BALANCE AS OF MARCH 31, 2009

SALDO PER 1 JANUARI 2010 495.175.382.250 974.377.310.292 615.377.527 235.676.708.524 - (3.224.468.792.187) (1.518.624.013.594) BALANCE AS OF JANUARY 1, 2010

SELISIH KURS KARENA PENJABARAN DIFFERENCE IN FOREIGN CURRENCY

LAPORAN KEUANGAN 2c - - - 60.636.416.703 - - 60.636.416.703 TRANSLATION RUGI BERSIH 31 MARET 2010 - - - - (292.399.095.943) (292.399.095.943) NET LOSS MARCH 31, 2010 SALDO PER 31 MARET 2010 495.175.382.250 974.377.310.292 615.377.527 296.313.125.227 - (3.516.867.888.130) (1.750.386.692.834) BALANCE AS OF MARCH 31, 2010

Lihat Catatan atas Laporan Keuangan Konsolidasi yang merupakan See accompanying Notes to Consolidated Financial Statements

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CASH FLOWS FROM OPERATING

ARUS KAS DARI AKTIVITAS OPERASI ACTIVITIES

Penerimaan dari Pelanggan 540.211.635.564 758.018.108.032 Cash Receipts from Customers Pembayaran kepada Karyawan (6.024.186.481) (7.138.617.998) Cash Payments to Employees Pembayaran Beban Operasional (334.154.330.210) (378.630.961.875) Cash Payments for Operating Expenses Penerimaan (Pembayaran) Lain-lain 5.063.579.228 (3.622.082.650) Cash Receipts from (Payments for) Others

Cash Provided by Operating Kas Diperoleh dari Aktivitas Operasi 205.096.698.101 368.626.445.509 Activities

Pembayaran Bunga (67.540.718.194) (166.106.546.131) Payments for Interest

Restitusi (Pembayaran) Pajak Penghasilan Refund from (Payment for) Corporate

Badan - Bersih 24.510.135.462 (54.125.289.809) Income Tax - Net

Kas Bersih Diperoleh dari Aktivitas Net Cash Provided by

Operasi 162.066.115.369 148.394.609.569 Operating Activities

CASH FLOWS FROM INVESTING

ARUS KAS DARI AKTIVITAS INVESTASI ACTIVITIES

Acquisition of Investment in Shares of Perolehan Penyertaan Saham - (2.299.999.920) Stock

Penempatan Investasi Jangka Pendek - (21.388.246.407) Placement of Short-term Investments Acquisition of Property and Equipment Perolehan Aset Tetap Pemilikan Langsung (30.677.119.818) (61.708.175.626) of Direct Acquisitions

Proceeds from Sale of Property and Penjualan Aset Tetap Pemilikan Langsung 1.615.545.620 9.129.822.000 Equipment

Peningkatan Uang Muka Pembelian - (5.997.739.100) Increase in Advance for Purchase Peningkatan Aktiva Lain-lain - (101.624.346.424) Increase in Other Assets

Kas Bersih Digunakan untuk Aktivitas Net Cash Used in Investing

Investasi (29.061.574.198) (183.888.685.477) Activities

CASH FLOWS FROM FINANCING

ARUS KAS DARI AKTIVITAS PENDANAAN ACTIVITIES

Peningkatan (Penurunan) Hutang Bank dan Increase (Decrease) in Bank and

Lembaga Keuangan 198.647.821.829 (62.968.634.049) Financial Institution Loans Peningkatan (Penurunan) Hutang Hubungan 6.471.649.362 (3.349.249.261) Increase (Decrease) in Due to Related

Istimewa Parties

Hasil Pelaksanaan Waran - 14.227.500 Proceeds from Warrant Penurunan Piutang Lain - Lain 115.047.639.345 - Decrease in Other Receivables Pembayaran Hutang Pembiayaan Konsumen (4.598.662.128) (389.880.574) Payment for Consumer Financing Loans Penerbitan Saham Opsi - 612.072.536 Exercise of Shares Options

Pembayaran Biaya Transaksi Pinjaman (50.361.681.382) - Payment for Loan Issuance Cost Pembayaran Bunga Obligasi (9.271.666.667) - Payment for Interest of Bonds

Kas Bersih Diperoleh dari Aktivitas Net Cash Provided by Financing

Pendanaan 255.935.100.360 (66.081.463.848) Activities

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PENINGKATAN BERSIH KAS DAN SETARA NET INCREASE IN CASH AND KAS 388.939.641.531 (101.575.539.756) CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS, KAS DAN SETARA KAS, AWAL TAHUN 667.615.432.445 840.610.677.187 BEGINNING

PENGARUH SELISIH KURS (17.018.448.712) 55.159.569.754 EFFECTS DUE TO FOREIGN CURRENCY UNCONSOLIDATED CASH AND CASH

KAS DAN SETARA KAS, AWAL TAHUN YANG EQUIVALENTS, BEGINNING OF THE

TIDAK DIKONSOLIDASI - 245.524.266 YEAR

PENURUNAN (PENINGKATAN) BANK YANG DECREASE (INCREASE) IN

DIBATASI PENGGUNAANNYA - BERSIH 44.221.440.730 (56.474.540.750) RESTRICTED CASH IN BANK - NET CASH AND CASH EQUIVALENTS, KAS DAN SETARA KAS, AKHIR TAHUN 1.083.758.065.993 737.965.690.701 ENDING

AKTIVITAS TIDAK MELALUI KAS DAN SETARA KAS NON CASH ACTIVITIES

Increase in Property and Equipment

Perolehan Aset Tetap Pemilikan Langsung dari : through :

- Hutang Hubungan Istimewa 40.512.500.000 - Due to Related Parties

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a. Pendirian Perusahaan

PT Mitra International Resources Tbk (Perusahaan) yang semula bernama PT Mitra Rajasa Tbk didirikan berdasarkan Akta No. 285 tanggal 24 April 1979 dari Notaris Ridwan Suselo, SH. Akta Pendirian Perusahaan telah mendapat pengesahan dari Menteri Kehakiman Republik Indonesia dalam Surat Keputusan No. Y.A.5/377/14 tanggal 12 Oktober 1979 serta diumumkan dalam Berita Negara Republik Indonesia No. 45 tanggal 3 Juni 1980, Tambahan No. 387.

Anggaran Dasar Perusahaan telah mengalami beberapa kali perubahan, yang terakhir adalah dengan Akta No. 2 tanggal 15 Pebruari 2010 dari Notaris Imas Fatimah, SH, mengenai perubahan susunan pengurus Perusahaan.

Perubahan Anggaran Dasar tersebut telah dilaporkan dan dicatat dalam Datasbase Sisminbakum Direktorat Jendral Administrasi Hukum Umum Departemen Hukum Republik Indonesia dan Hak Asasi Manusia Republik Indonesia dalam Suratnya No. AHU-AH.01.10- 06575 tanggal 18 Maret 2010.

Sesuai dengan Pasal 3 Anggaran Dasar Perusahaan, maksud dan tujuan Perusahaan adalah menjalankan usaha dalam bidang pengangkutan darat, perdagangan, jasa, pembangunan, pertambangan dan perindustrian.

Perusahaan berkedudukan di Jakarta dan mempunyai cabang di Surabaya, dengan alamat sebagai berikut :

- Kantor Pusat : Jalan A.M. Sangaji No. 12 – Jakarta

- Kantor Operasional : Jalan Tlajung Udik Km. 20 Citereup – Bogor Jalan Tanjung Priok No. 11G - Surabaya

Perusahaan mulai beroperasi secara komersial sejak tahun 1979.

a. Company Establishment

PT Mitra International Resources Tbk (the Company), formerly was PT Mitra Rajasa Tbk was established based on Notarial Deed No. 285 dated April 24, 1979 of Public Notary Ridwan Suselo, SH. The Deed of Establishment was approved by the Minister of Justice of the Republic of Indonesia in Decision Letter No. Y.A.5/377/14 dated October 12, 1979 and was published in State Gazette of the Republic of Indonesia No. 45 dated June 3, 1980, Supplement No. 387.

The Company’s Articles of Association have been amended several times, most recently by Notarial Deed No. 2 dated February 15, 2010 of Public Notary Imas Fatimah, SH, concerning changes in the management composition. Such amendment has been reported to and registered in Sisminbakum Database of General Administration Law Section of Department of Law and Human Rights of the Republic of Indonesia in Letter No. AHU-AH.01.10-06575 dated March 18, 2010.

In accordance with Article 3 of the Company’s Articles of Association, the scope of its activities is providing land transportation services, trading, services, construction, mining and industry.

The Company’s domicile is in Jakarta with a branch in Surabaya, with addresses as follows :

- Head Office : Jalan A.M. Sangaji No. 12 – Jakarta - Operational Office : Jalan Tlajung Udik Km.

20 Citereup – Bogor

Jalan Tanjung Priok

No. 11G - Surabaya The Company started its commercial operations in 1979.

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a. Pendirian Perusahaan (Lanjutan)

Pada tanggal 1 Mei 2009, Perusahaan telah menjual Unit Usaha Transportasi (UUT) cabang Surabaya.

Pada saat ini, Perusahaan bergerak dalam bidang industri jasa transportasi darat serta melakukan investasi pada anak perusahaan yang bergerak di bidang jasa penunjang produksi minyak, gas dan panas bumi.

b. Penawaran Umum Efek Perusahaan Perusahaan dinyatakan efektif sebagai perusahaan publik pada tanggal 6 Januari 1997 dan tercatat pada Bursa Efek Indonesia

(d/h Bursa Efek Jakarta) pada tanggal 30 Januari 1997.

Pada tanggal 17 Mei 2000, Perusahaan melakukan Pemecahan Nilai Nominal Saham dari Rp 500 per saham menjadi Rp 250 per saham.

Pada tanggal 31 Oktober 2007, Perusahaan memperoleh pernyataan efektif dari Ketua Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam - LK) dengan Suratnya No. S-5451/BL/2007 untuk melakukan Penawaran Umum Terbatas (PUT) I kepada para pemegang saham dalam rangka penerbitan Hak Memesan Efek Terlebih Dahulu (HMETD) sebanyak 1.140.000.000 saham dengan harga pelaksanaan Rp 450 per saham. Saham-saham tersebut dicatatkan pada Bursa Efek Indonesia pada tanggal 14 Nopember 2007.

Pada tanggal 6 Mei 2008, Perusahaan

a. Company Establishment (Continued) On May 1, 2009, the Company has sold its Surabaya branch of Transportation Business Unit (UUT).

The Company is currently engaged in providing land transportation and having an investment in shares of stock of subsidiaries engaging in providing services for the production supports of oil, gas and geothermal energy.

b. Public Offering of Shares

The Company obtained the effective statement as a public company on January 6, 1997 and was listed on the Indonesia Stock Exchange (formerly Jakarta Stock Exchange) on January 30, 1997.

On May 17, 2000, the Company split the value of its shares from Rp 500 per share to become Rp 250 per share.

On October 31, 2007, the Company obtained the effective statement from the Chairman of Capital Market Supervisor Agency and Financial Institution (Bapepam-LK) in Letter No. S-5451/BL/2007 for its Limited Public Offering I with pre-emptive rights for 1,140,000,000 shares at the price of Rp 450 per share. The shares are listed on the Indonesia Stock Exchange on November 14, 2007.

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b. Penawaran Umum Efek Perusahaan (Lanjutan)

Pada tanggal 6 Nopember 2008, Perusahaan memperoleh pernyataan efektif dari Ketua

Bapepam – LK dengan Suratnya No. S-8037/BL/2008 untuk melakukan PUT II

kepada para pemegang saham dalam rangka penerbitan HMETD. Saham yang diterbitkan sebanyak-banyaknya 1.102.690.963 saham dengan harga pelaksanaan Rp 800 per saham. Selama periode pelaksanaan, jumlah saham hasil pelaksanaan PUT II yang diterbitkan sebanyak 1.094.157.810 saham.

Saham-saham tersebut dicatatkan pada

Bursa Efek Indonesia pada tanggal 27 Nopember 2008.

Pada tanggal 31 Maret 2010 dan 2009, seluruh saham Perusahaan masing-masing sejumlah 3.961.403.058 saham dan 3.959.906.718 saham telah dicatatkan pada Bursa Efek Indonesia.

c. Struktur Perusahaan dan Anak Perusahaan

Jumlah kepemilikan saham pada anak perusahaan sebagai berikut :

b. Public Offering of Shares (Continued)

On November 6, 2008, the Company obtained the effective statement from the Chairman of Bapepam-LK in Letter No.

S-8037/BL/2008 for its Limited Public Offering II with pre-emptive rights. The issued shares amounted to 1,102,690,963 shares at the price of Rp 800 per share. During the offering, the amount of shares issued amounted to 1,094,157,810 shares. The shares were listed on the Indonesia Stock Exchange on November 27, 2008.

As of March 31, 2010 and 2009, all of the Company’s shares totaling 3,961,403,058 shares and 3,959,906,718 shares have been listed on the Indonesia Stock Exchange.

c. The Company and Subsidiaries Structure The details of the Company’s ownership in subsidiaries are as follows :

Mulai Beroperasi /

Lokasi / Kegiatan Usaha / Start of

Location Activities Operations 2 0 1 0 2 0 0 9

Pemilikan Langsung / Direct Acquisition

- PT Rama Dinamika Raya (RDR) Jakarta Industri Karoseri dan Jasa Angkutan / 1995 60,93% 99,87 % 4.240.455.383 2.249.056.087 Automobile Assembling Industry and

Transportation Services

- PT Inti Continental (INTI) Jakarta Jasa Angkutan Darat untuk tujuan 1996 99,31% 99,31 % 2.346.192.315 2.346.192.315 wisata sesuai Ijin trayek

(tidak beroperasi) / Land Transportation for Tourism purposes based on route licence (non-operating)

- Sabre Systems International Pte. Ltd. Singapura/ Jasa Sewa - Kontrak fasilitas 1997 93,35% 99,00 % 8.448.058.339.570 12.573.003.973.186

(SSI) Singapore Produksi Lepas Pantai /

Charter Services - Contract of Offshore Production Facility

- PT Pulau Kencana Raya (PKR) Jakarta Jasa Penunjang Sektor Energi, 2004 99,92% 100,00 % 139.467.913.833 68.592.900.698 Minyak dan Gas Bumi Lepas

Pantai /

Offshore supporting services for Energy, Oil and Gas Anak Perusahaan/ Subsidiaries

Percentage of Ownership

Persentase Kepemilikan / Jumlah Aset Sebelum Eliminasi /

2 0 1 0 2 0 0 9

Total Assets before Eliminations

(13)

c. Struktur Perusahaan dan Anak Perusahaan (Lanjutan)

c. The Company and Subsidiaries Structure (Continued)

Mulai Beroperasi /

- Sabre Offshore Marine Pte., Ltd. Singapura/ Jasa Sewa - Kontrak fasilitas Tahap 100,00% 100,00 % 53.477.450.783 56.355.627.879

(SOM) Singapore Produksi lepas pantai / pengembangan/

Charter Services - Contract of Development

Offshore Production Facility Stage

- PT Bojonegara Training Centre (BTC) Jakarta Jasa Pendidikan, Pelatihan Teknis 2009 99,75% %- 323.461.496 - dan Ketenagakerjaan /

Educational Service, Technical Training and Employment

- PT Team Safety Consultants Indonesia Jakarta Jasa Inspeksi Teknik, Sertifikasi, 2005 80,00% 80,00 % 2.676.489.868 1.950.710.463

(TSCI) Tenaga Teknis dan Pelatihan /

Engineering Inspection, Certification, Technical Personnel and Training Services

- PT Darmasurya Intinusa (DSI) Jakarta Jasa 2005 99,83% %- 600.019.802 -

Services

Pemilikan Tidak Langsung melalui PKR / Indirect Acquisition through PKR

- PT Pulau Kencana Oilfield Service Jakarta Jasa Penunjang Industri Minyak 2004 99,83% 67,00 % 1.831.518.377 2.085.230.507

(PKOS) dan Gas Bumi Di daratan /

On Shore supporting services for Oil and Gas Industry

- Sabre Systems International Pte. Ltd. (SSI) Singapura/ Jasa Sewa - Kontrak fasilitas 1997 0,04% 0,04% 8.448.058.339.570 12.573.003.973.186 Singapore Produksi Lepas Pantai /

Charter Services - Contract of Offshore Production Facility melalui INTI/ through INTI

- PT Pulau Kencana Raya (PKR) Jakarta Jasa Penunjang Sektor Energi, 2004 0,08% 0,08% 139.467.913.833 68.592.900.698 Minyak dan Gas Bumi

Lepas Pantai / Offshore supporting services for Energy, Oil and Gas

- PT Rama Dinamika Raya (RDR) Jakarta Industri Karoseri dan Jasa 1995 34,19% %- 4.240.455.383 2.249.056.087 Angkutan /

Automobile Assembling, Industry and Transportation Services

Melalui SSI / Through SSI

- SSI Offshore Pte. Ltd (SO) Singapura/ Investasi / Investment 2008 100,00% 100,00 % 8.463.635.827.901 12.572.345.178.705

Singapore

Melalui SO / Through SO

- Mira International Holdings Pte. Ltd. (MIH) Singapura/ Investasi / Investment 2008 100,00% 100,00 % 8.463.635.827.901 12.572.316.168.514 Singapore

Melalui MIH / Through MIH

- PT Apexindo Pratama Duta Tbk (APEX) Jakarta Jasa pemboran baik di darat 1992 98,11% 98,11 % 4.904.123.898.603 5.689.281.957.768 maupun di lepas pantai bagi

Jumlah Aset Sebelum Eliminasi / Percentage of Ownership Total Assets before Eliminations

Anak Perusahaan/ Subsidiaries 2 0 1 0 2 0 0 9

Persentase Kepemilikan /

(14)

Mulai Beroperasi /

Melalui APEX / Through APEX

- PT Antareja Jasatama (AJT) Jakarta Membuka lahan untuk aktivitas 1999 99,60% 99,60 % 342.696.655 353.778.300 pertambangan dan jasa penunjang

yang berkaitan dengan kegiatan pengeboran (tidak beroperasi) / Field clearing for mining activiites and providing services related to drilling opeartions (ceased operations)

- Apexindo Asia Pacific B.V (AAP) Amsterdam Menghimpun dana untuk 2003 100,00% 100,00 % 1.564.170.460 3.045.926.525 membiayai pembangunan rig

perusahaan melalui hutang bank luar negeri (tidak beroperasi, dalam proses likuidasi) / Fund raising through foreign bank loan to finance the Company's Rig construction (non-operating, in process of liquidation)

- Apexindo Khatulistiwa B.V (AK) Amsterdam Menghimpun dana untuk 2003 100,00% 100,00 % 45.429.160 126.225.375 membiayai pembangunan rig

perusahaan melalui hutang bank luar negeri (tidak beroperasi, dalam proses likuidasi) / Fund raising through foreign bank loan to finance the Company's Rig construction (non-operating, in process of liquidation)

- Apexindo Offshore Pte. Ltd (AO) Singapura/ Menghimpun dana melalui 2006 100,00% 100,00 % 1.305.204.267.920 1.759.735.049.950

Singapore hutang bank luar negeri untuk membiayai pembangunan rig serta mengelola dan menyewakan aset tetap perusahaan / Fund raising through foreign bank loan to finance the Company's Rig construction

- Apexindo Raniworo Pte. Ltd (AR) Singapura/ Mengelola dan menyewakan 2007 100,00% 100,00 % 9.115 11.575 Singapore aset tetap perusahaan /

Managing & Renting the Company's assets

- PT Apex Landrig Indonesia (ALI) Jakarta Menjalankan aktivitas 2008 99,99% 99,99 % 48.483.951.985 999.998.975 pertambangan minyak, gas

dan panas bumi dan jasa terkait lainnya / Performing mining activities in oil mining, gas and geothemal and other related services Anak Perusahaan/ Subsidiaries

Percentage of Ownership

Persentase Kepemilikan / Jumlah Aset Sebelum Eliminasi /

2 0 1 0 2 0 0 9

Total Assets before Eliminations

(15)

Pada tanggal 14 Pebruari 2008, SSI mendirikan SOM dengan kepemilikan sebesar 100 % saham SOM. SOM berkedudukan di Singapura dan bergerak dalam bidang jasa sewa-kontrak fasilitas produksi lepas pantai. Pada tanggal 27 Mei 2008, Perusahaan mengakuisisi saham SOM yang dimiliki oleh SSI sehingga penyertaan Perusahaan dari penyertaan tidak langsung melalui SSI menjadi penyertaan langsung.

Pengalihan saham tersebut dilaksanakan dengan nilai nominal saham SOM.

Pada tanggal 30 Juni 2008, Perusahaan melakukan Perjanjian Jual Beli dan Pengalihan atas 1 (satu) lembar saham PKR kepada INTI, keduanya merupakan anak perusahaan. Harga jual dilakukan dengan

harga nilai nominal saham, yaitu sebesar Rp 500.000 atau sebesar 0,08 % dari modal

saham ditempatkan dan disetor penuh PKR.

Pada tanggal 12 Agustus 2008, SSI mendirikan MIH dengan kepemilikan 100 % saham MIH. MIH berkedudukan di Singapura dan bergerak dalam Bidang investasi.

Pada tanggal 27 Agustus 2008, SSI mendirikan SO, dengan kepemilikan 100 % saham SO. SO berkedudukan di Singapura dan bergerak dalam bidang investasi.

Pada tanggal 5 September 2008, SSI menerbitkan 97.765.550 dan 7.234.500 saham baru masing-masing kepada Perusahaan dan Dominant Group Holdings

On February 14, 2008, SSI established SOM with ownership of 100% of SOM shares.

SOM’s domicile is in Singapore and the scope of its activities is in Charter services – contract of offshore Production facility. On May 27, 2008, the Company acquired the shares of SOM owned by SSI. Thus, the Company’s indirect ownership through SSI is changed to direct ownership. This transfer of shares was conducted using the SOM share par value.

On June 30, 2008, the Company entered into a sale, purchase and transfer of 1 share of PKR to INTI, both are subsidiaries. The sale was conducted using the share par value of Rp 500,000 or 0.08 % of PKR’s subscribed and fully paid capital.

On August 12, 2008, SSI established MIH with ownership of 100% of MIH shares. MIH’s domicile is in Singapore and the scope of its activities is in investment.

On August 27, 2008, SSI established SO, with ownership of 100 % of SO shares. SO’s domicile is in Singapore and the scope of its activities is in investment.

On September 5, 2008, SSI issued 97,765,550 and 7,234,500 new shares to the Company and to Dominant Group Holdings Inc. (DGH), respectively. The Company’s

(16)

Pada tanggal 8 September 2008, SO mengakuisisi saham MIH dengan kepemilikan 100% dari SSI.

Pada tanggal 5 September 2008, MIH mengakuisisi saham APEX sebanyak 2.122.045.106 saham atau 79,88 % dari modal ditempatkan dan disetor APEX.

Atas transaksi akuisisi tersebut, MIH berkewajiban melakukan penawaran tender atas seluruh sisa saham APEX. Penawaran tender tersebut telah mendapatkan pernyataan efektif dari Bapepam - LK

berdasarkan surat Bapepam - LK No. S-7471/BL/2008 tertanggal 27 Oktober

2008. Penawaran tender akan dilaksanakan

pada periode 28 Oktober 2008 hingga 11 Nopember 2008.

Pada tanggal 19 Januari 2009, Perusahaan mengakuisisi saham PT Team Safety Consultants Indonesia (TSCI) sebanyak 240 saham atau sebesar 80 % dari modal ditempatkan dan disetor TSCI (Catatan 9).

TSCI merupakan Perusahaan yang bergerak dalam bidang penyediaan jasa inspeksi teknik, sertifikasi, tenaga kerja teknis dan pelatihan. TSCI berkedudukan di Balikpapan, Kalimantan Timur.

Berdasarkan Akta No. 4 tanggal 15 Juni 2009 dari Notaris Eko Putranto, SH, Perusahaan mendirikan PT Bojonegara Training Centre (BTC) dengan penyertaan saham sebanyak 399 saham atau sebesar 99,75% dari modal ditempatkan dan disetor BTC. BTC merupakan Perusahaan yang bergerak dalam bidang penyediaan jasa pendidikan, pelatihan teknis dan ketenagakerjaan. BTC berkedudukan di Jakarta.

On September 8, 2008, SO acquired 100%

of MIH shares from SSI.

On September 5, 2008, MIH acquired 2,122,045,106 shares of APEX or 79.88% of APEX’s subscribed and fully paid capital.

Due to such acquisition, MIH had to conduct a Tender Offer Process on all the remaining shares of APEX. The Tender Offerring has been effective by Bapepam - LK through its Letter No. S-7471/BL/2008 dated October 27, 2008. The Tender Offer was conducted between October 28, 2008 to November 11, 2008.

On January 19, 2009, the Company acquired 240 shares of PT Team Safety Consultants Indonesia (TSCI) or 80% of TSCI’s subscribed and fully paid capital (Notes 9). TSCI is a company engaged in providing engineering inspection, certification, technical personnel and training service. TSCI’s domicile in Balikpapan, East Kalimantan.

Based on Notarial Deed No. 4 dated June 15, 2009 of Public Notary Eko Putranto, SH, tha Company established PT Bojonegara Training Centre (BTC) with 399 shares ownership or 99,75% of BTC’s subscribed and fully paid capital. BTC is a company angaged in educational services, technical training and employment. BTC’s domicile in Jakarta.