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DAN ENTITAS ANAK / AND SUBSIDIARIES

LAPORAN KEUANGAN KONSOLIDASIAN 30 SEPTEMBER 2012 DAN 31 DESEMBER 2011

DAN PERIODE YANG BERAKHIR PADA TANGGAL 30 SEPTEMBER 2012 DAN 2011

CONSOLIDATED FINANCIAL STATEMENTS SEPTEMBER 30, 2012 AND DECEMBER 31, 2011

AND THE PERIOD ENDED SEPTEMBER 30, 2012 AND 2011

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DAFTAR ISI

Halaman/

P a g e

Surat Pernyataan Direksi

Laporan Posisi Keuangan Konsolidasian

Laporan Laba Rugi Komprehensif

Konsolidasian

Laporan Perubahan Ekuitas Konsolidasian

Laporan Arus Kas Konsolidasian

Catatan Atas Laporan Keuangan Konsolidasian

1 - 2

3 4 - 5

6 7 - 129

Directors’ Statement Letter

Consolidated Statement of Financial Position

Consolidated Statement of Comprehensive

Income

Consolidated Statement of Changes in Equity

Consolidated Statement of Cash Flows

Notes to Consolidated Financial Statements

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Catatan/ 30 September 2012/ 31 Desember 2011/

Notes September 30, 2012 December 31, 2011

A S E T A S S E T S

Aset Lancar Current Assets

Kas dan setara kas 2d,2i,5,50 187.770.817.777 597.128.042.339 Cash and cash equivalents

Investasi jangka pendek 2i,6,50 6.083.008.478 6.685.468.837 Short-term investment

Piutang usaha Trade receivables

Pihak ketiga - setelah dikurangi Third parties - net of allowance

cadangan kerugian penurunan nilai for impairment losses of

sebesar Rp 57.413.489.729 pada Rp 57,413,489,729 as of

30 September 2012 dan September 30, 2012 and

31 Desember 2011 2i,7,50 1.091.848.676.823 991.930.558.167 December 31, 2011

Pihak berelasi - setelah dikurangi Related parties - net of allowance

sebesar Rp 1.872.500.645 Rp 1,872,500,645

pada 30 September 2012 dan 2f,2i,7, as of September 30, 2012 and

31 Desember 2011 40,50 134.631.026.348 174.446.478.872 December 31, 2011

Piutang lain-lain Other receivables

Pihak ketiga - setelah dikurangi Third parties - net of allowance

sebesar Rp 44.001.669 pada Rp 44,001,669

30 September 2012 dan as of September 30, 2012

31 Desember 2011 2i,8,50 499.145.191.761 829.163.823.238 and December 31, 2011

Pihak berelasi - setelah dikurangi Related parties - net of allowance

sebesar Rp 2.866.983.437 pada Rp 2,866,983,437

30 September 2012 dan as of September 30, 2012

31 Desember 2011 2f,2i,8,40,50 120.309.277 704.106.754 December 31, 2011

Persediaan 2j,9 1.845.964.154.443 1.816.318.578.119 Inventories

Pajak dibayar di muka 2t,24a 12.165.580.682 4.168.616.145 Prepaid taxes

Uang muka dan biaya dibayar di muka 2g,10 383.920.635.364 1.207.537.947.709 Advances and prepaid expenses

Jumlah Aset Lancar 4.161.649.400.953 5.628.083.620.180 Total Current Assets

Aset Tidak Lancar Non-current Assets

Dana dalam pembatasan 2d,2i,11,50 293.266.525.458 239.288.930.699 Restricted funds

Piutang pihak berelasi- setelah Due from related parties - net of

dikurangi cadangan kerugian penurunan allowance for impairment losses of

nilai sebesar Rp 411.758.406 Rp 411,758,406

pada 30 September 2012 as of September 30, 2012

dan 31 Desember 2011 2f,2i,40,50 51.375.294.834 44.193.251.030 and December 31, 2011

Penyertaan saham 2i, 2m,12,50 219.573.610.432 298.799.973.340 Investment in shares of stock

Tanah untuk pengembangan 2l,13 5.741.164.307.952 4.846.394.733.066 Land bank

Properti investasi - setelah dikurangi akumulasi Investment properties - net

penyusutan masing-masing sebesar of accumulated depreciation of

Rp 29.259.522.286 pada Rp 29,259,522,286 as of

30 September 2012 dan September 30, 2012 and

Rp 20.079.673.066 2n,14 549.966.502.946 472.566.282.510 Rp 20,079,673,066

pada 31 Desember 2011 as of December 31, 2011

Aset tetap - setelah dikurangi akumulasi

penyusutan masing-masing sebesar Fixed assets - net of accumulated

Rp 895.049.457.113 depreciation of Rp 895,049,457,113

pada 30 September 2012 as of September 30, 2012

dan Rp 764.898.538.343 and Rp 764,898,538,343

pada 31 Desember 2011 2o,2p,2q,15 6.254.993.864.429 5.601.213.500.324 as of December 31, 2011

Aset pajak tangguhan - bersih 2t,24f 130.217.841.668 133.162.185.360 Deferred tax assets - net

Goodwill 2c,16 33.598.690.327 33.598.690.327 Goodwill

Aset lain-lain 2i,17,50 356.581.630.782 410.648.431.581 Other assets

Jumlah Aset Tidak Lancar 13.630.738.268.828 12.079.865.978.237 Total Non-current Assets

JUMLAH ASET 17.792.387.669.781 17.707.949.598.417 TOTAL ASSETS

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Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.

The accompanying notes form an integral part of these consolidated financial statements.

LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS LIABILITIES

Liabilitas Jangka Pendek Current Liabilities

Utang bank jangka pendek 2i,18,50 377.219.380.456 274.828.000.000 Short-term bank loans

Utang usaha - pihak ketiga 2i,19,50 552.283.222.591 491.661.801.974 Trade payables - third parties

Utang lain-lain - pihak ketiga 2i,20,50 17.703.263.920 312.251.167.099 Other payables - third parties

Biaya masih harus dibayar 2i,2v,21,38,50 272.547.728.354 287.981.402.476 Accrued expenses

Uang muka pelanggan 2i,2s,22,40,50 426.025.492.810 179.112.638.798 Advances from customers

Pendapatan ditangguhkan 2s,23,40 203.379.822.772 152.168.021.100 Deferred income

Utang pajak 2t,24b 280.257.295.994 299.345.702.741 Taxes payable

Liabilitas jangka panjang yang jatuh tempo Current maturities

dalam satu tahun of long-term debts

Utang bank dan lembaga keuangan 2i,25,50 974.389.901.879 2.273.747.077.197 Bank and financial institution loans

Utang usaha 2i,26,50 6.550.203.599 12.779.702.925 Trade payables

Utang sewa pembiayaan 2i,2q,28,50 867.412.363 1.557.924.770 Obligation under capital lease

Utang obligasi 2i,2y,27,50 276.662.988.093 - Bonds payable

Jumlah Liabilitas Jangka Pendek 3.387.886.712.831 4.285.433.439.080 Total Current Liabilities

Liabilitas Jangka Panjang Non-current Liabilities

Utang pihak berelasi 2f ,2i,40,50 300.390.301.539 145.303.077.735 Due to related parties

Utang obligasi 2i,2y,27,50 1.242.879.140.996 1.487.952.737.753 Bonds payable

Utang dividen 2e,29 669.117.279 669.117.279 Dividends payable

Liabilitas derivatif 2i,42,50 36.790.194.498 56.691.050.360 Derivative liabilities

Liabilitas jangka panjang - setelah

dikurangi bagian jatuh tempo dalam Long-term debts - net of current

satu tahun maturities of long- term debts

Utang bank dan lembaga keuangan 2i,25,50 2.406.871.980.801 790.817.069.509 Bank and financial institution loans

Utang usaha 2i,26,50 16.209.239.175 16.212.713.318 Trade payables

Utang sewa pembiayaan 2i,2q,28,50 4.712.214.850 3.871.249.390 Obligation under capital lease

Cadangan atas penggantian perabotan Reserve for replacement of furniture

dan peralatan 2w,2x 4.222.065.226 2.396.013.612 and equipment

Liabilitas pajak tangguhan - bersih 2t,24f 16.531.692.067 16.531.692.067 Deferred tax liabilities - net

Jumlah Liabilitas Jangka Panjang 4.029.275.946.431 2.520.444.721.023 Total Non-current Liabilities

JUMLAH LIABILITAS 7.417.162.659.262 6.805.878.160.103 TOTAL LIABILITIES

EKUITAS EQUITY

Ekuitas yang dapat diatribusikan kepada Equity attributable to

entitas induk parent entity

Modal saham - nilai nominal saham seri A Capital stock - par value A series of

Rp 500 per saham dan saham seri B Rp 500 per share and B series

Rp 100 per saham of Rp 100 per share

Modal dasar - terdiri dari 1.400.000.000 Authorized capital - 1,400,000,000 shares

saham seri A dan 93.000.000.000 for A series and 93,000,000,000

saham seri B shares for B series

Ditempatkan dan disetor penuh - Issued and fully paid - A series

1.400.000.000 saham seri A of 1,400,000,000 shares and

dan 42.121.913.019 saham B series of 42,121,913,019

seri B pada 30 September 2012 dan shares as of September 30, 2012 and

1.400.000.000 saham seri A A series of 1,400,000,000 shares

dan 38.519.772.265 saham and B series of 38,519,772,265

seri B pada 31 Desember 2011 29 4.912.191.301.900 4.551.977.226.500 shares as of December 31, 2012

Tambahan modal disetor - bersih 2r,31 2.926.273.855.564 2.692.134.706.554 Additional paid-in capital - net

Saham yang diperoleh kembali sebanyak Treasury stock of

120.750.000 saham pada 120,750,000 shares

30 September 2012 as of September 30, 2012

dan 31 Desember 2011 2dd,32 (27.835.501.000 ) (27.835.501.000 ) and December 31, 2011

Saldo laba Retained earnings

Ditentukan penggunaannya 40.435.548.418 40.435.548.418 Appropriated

Belum ditentukan penggunaannya 815.871.017.055 948.883.270.402 Unappropriated

Komponen ekuitas lainnya (63.463.731.741 ) 141.271.634.363 Others equity

Ekuitas yang dapat diatribusikan kepada

entitas induk 8.603.472.490.196 8.346.866.885.237 Equity attributable to parent entity

Kepentingan non-pengendali 2b, 44a 1.771.752.520.323 2.555.204.553.077 Non-controlling interest

JUMLAH EKUITAS 10.375.225.010.519 10.902.071.438.314 TOTAL EQUITY

JUMLAH LIABILITAS DAN EKUITAS 17.792.387.669.781 17.707.949.598.417 TOTAL LIABILITIES AND EQUITY

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Notes September 30, 2012 September 30, 2011

PENGHASILAN USAHA BERSIH 2s,33,40 1.319.322.821.267 1.449.749.522.108 NET REVENUES

BEBAN POKOK PENGHASILAN 2o,2s,34 712.804.803.357 853.128.148.327 COST OF REVENUES

LABA KOTOR 606.518.017.910 596.621.373.781 GROSS PROFIT

Beban penjualan 2o,2s,2v,35 (81.012.779.351 ) (68.488.618.786 ) Selling expenses

Beban umum dan administrasi 15,35,38 (416.683.672.511 ) (325.672.003.846 ) General and administrative expenses

Beban bunga dan keuangan - 18,25,36, Interest expense and financial

bersih 43f,43h,43i (241.379.430.028 ) (69.070.057.072 ) charges - net Laba (rugi) selisih kurs - bersih 2h (39.756.114.968 ) 10.883.615.753 Gain on foreign exchange - net

Laba (rugi) penjualan/penghapusan Gain (loss) on sales/disposal of

aset tetap 2o,15 2.531.227.704 29.360.053 fixed asset

Bagian atas laba (rugi) bersih Entitas Equity in net earnings of

Asosiasi – bersih 2m,12 (12.156.392.477 ) 1.694.496.789 Associated Companies - net

Lain-lain - bersih 37 13.938.360.533 50.459.127.228 Others - net

LABA (RUGI) SEBELUM TAKSIRAN INCOME (LOSS) BEFORE PROVISION

MANFAAT (BEBAN) PAJAK (168.000.783.188 ) 196.457.293.900 FOR TAX BENEFIT (EXPENSES)

TAKSIRAN (BEBAN) PAJAK 2t,24c,24e PROVISION FOR TAX EXPENSES

Final (29.460.541.884 ) (48.664.763.946 ) Final

Tahun berjalan (17.837.204.090 ) - Current

Tangguhan (2.944.343.690 ) 45.792.829.080 Deferred

Jumlah taksiran manfaat (beban) Total provision for tax benefit

pajak - bersih (50.242.089.664 ) (2.871.934.866 ) (expenses) - net

LABA (RUGI) TAHUN BERJALAN (218.242.872.852 ) 193.585.359.034 INCOME (LOSS) CURRENT YEAR

BEBAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE EXPENSES

Selisih kurs karena penjabaran laporan Exchange differences due to

keuangan (39.596.256.737 ) (3.546.503.390 ) financial statements translation

Rugi yang belum terealisasi atas investasi Unrealized loss on investment

efek yang tersedia untuk dijual (165.139.109.367 ) (110.030.374.068 ) under available-for-sale

Jumlah beban komprehensif lain Total other comprehensive expenses

tahun berjalan setelah pajak (204.735.366.104 ) (113.576.877.458 ) current year after provision tax

JUMLAH LABA (RUGI) KOMPREHENSIF TOTAL COMPREHENSIVE INCOME

TAHUN BERJALAN (422.978.238.956 ) 80.008.481.576 (LOSS) CURRENT YEAR

JUMLAH LABA (RUGI) YANG DAPAT TOTAL INCOME (LOSS)

DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO:

Pemilik entitas induk (133.012.253.347 ) 129.238.844.416 Owners of the parent entity

Kepentingan non-pengendali 2b,44b (85.230.619.505 ) 64.346.514.618 Non-controlling interest

(218.242.872.852 ) 193.585.359.034

JUMLAH LABA (RUGI) KOMPREHENSIF INCOME (LOSS) ATRIBUTABLE

YANG DAPAT DIATRIBUSIKAN KEPADA: TO:

Pemilik entitas induk (337.723.668.293 ) 15.661.966.958 Owners of the parent entity

Kepentingan non-pengendali 2c,44b (85.254.570.663 ) 64.346.514.618 Non-controlling interest

(422.978.238.956 ) 80.008.481.576

LABA (RUGI) PER SAHAM DASAR YANG BASIC EARNINGS PER SHARE

DAPAT DIATRIBUSIKAN KEPADA ATTRIBUTABLE TO OWNERS

PEMILIK ENTITAS INDUK 2bb,47 (3,06 ) 3,24 OF THE PARENT ENTITY

LABA (RUGI) PER SAHAM DILUSIAN YANG DILUTIVE EARNINGS PER SHARE

DAPAT DIATRIBUSIKAN KEPADA ATTRIBUTABLE TO OWNERS

PEMILIK ENTITAS INDUK 2bb,47 (3,06 ) 3,24 OF THE PARENT ENTITY

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Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan.

The accompanying notes form an integral part of these consolidated financial statements.

Modal Saham Ditempatkan dan Disetor Penuh/ Capital Stock

Issued and Fully Paid

Tambahan Modal

Disetor-Bersih/ Additional Paid-In

Capital-Net

Saham yang Diperoleh Kembali/ Treasury Stock

Investasi Efek yang Tersedia Untuk Dijual/ Unrealized Loss

on Investment Under Available -for-sale

Entitas Sepengendali/

Difference In Value of Restructuring

Transaction of Entities Under Common Control

Ekuitas Perusahaan

Assosiasi/ Difference In The Equity Transaction of

Associate Company

Penjabaran Laporan Keuangan/

Exchange Difference Due to Financial

Statement Translation

Surplus Revaluasi Aset

Tetap/ Revaluation

Surplus of Fixed Assets

Jumlah/ Total

Kepentingan Nonpengendali/ Non-controlling

interest

Jumlah Ekuitas/ Total Equity Saldo Laba/

Retained Earnings

Ditentukan Penggunaannya/

Appropriated

Belum Ditentukan Penggunaanya/ Unappropriated

Saldo awal, 1 Januari 2011 4.551.977.139.000 2.692.134.649.679 (27.835.501.000) (103.776.667.843) 54.732.012.959 (14.882.633.354) (984.331.528) 266.297.834.038 40.435.548.418 563.631.180.053 8.021.729.230.422 2.459.739.114.639 10.481.468.345.061 Balance, January 1, 2011

Penghentian pengakuan Derecognition of negative goodwill

goodwill negatif sesuai in accordance with transition

dengan ketentuan transisi provision of PSAK No. 22

PSAK No.22 (Revisi 2009) (Revised 2009)

(lihat Catatan 2c dan 16) - - - 404.407.833.016 404.407.833.016 - 404.407.833.016 (see Notes 2c and 16)

Saldo awal, 1 Januari 2011 setelah Balance January 1, 2011

dampak Penerapan PSAK effect of first time adoption of

No. 22 (Revisi 2009) 4.551.977.139.000 2.692.134.649.679 (27.835.501.000) (103.776.667.843) 54.732.012.959 (14.882.633.354) (984.331.528) 266.297.834.038 40.435.548.418 968.039.013.069 8.426.137.063.438 2.459.739.114.639 10.885.876.178.077 PSAK No. 22 (Revised 2009)

Laba (rugi) komprehensif tahun Comprehensive income (loss)

berjalan - - - (110.030.374.068) - - (3.546.503.390) - - 129.238.844.416 15.661.966.958 64.346.514.618 80.008.481.576 for the year

Pelaksanaan waran (Catatan 30) 35.000 22.750 - - - 57.750 - 57.750 Exercise warran (Note 30)

Penambahan investasi pada Addition investment in

entitas Anak oleh kepentingan Subsidiaries by Non-controlling

nonpengendali - - - (838.033.350) (838.033.350) Shareholders

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Modal Saham Ditempatkan dan Disetor Penuh/ Capital Stock

Issued and Fully Paid

Tambahan Modal

Disetor-Bersih/ Additional Paid-In

Capital-Net

Saham yang Diperoleh Kembali/ Treasury Stock

Rugi yang belum Terealisasi atas

Investasi Efek yang Tersedia Untuk Dijual/ Unrealized Loss

on Investment Under Available -for-sale

Nilai Transaksi Restrukturisasi Entitas Sepengendali/

Difference In Value of Restructuring

Transaction of Entities Under Common Control

Transaksi Perubahan Ekuitas Perusahaan

Assosiasi/ Difference In The Equity Transaction of

Associate Company

Selisih Kurs Karena Penjabaran

Laporan Keuangan/

Exchange Difference Due to Financial

Statement Translation

Surplus Revaluasi Aset

Tetap/ Revaluation

Surplus of Fixed Assets

Jumlah/ Total

Kepentingan Nonpengendali/ Non-controlling

interest

Jumlah Ekuitas/ Total Equity Saldo Laba/

Retained Earnings

Ditentukan Penggunaannya/

Appropriated

Belum Ditentukan Penggunaanya/ Unappropriated

Saldo awal, 1 Januari 2012 4.551.977.226.500 2.692.134.706.554 (27.835.501.000) (164.261.195.707) 54.732.012.959 (14.882.633.354) (614.383.573) 266.297.834.038 40.435.548.418 948.883.270.402 8.346.866.885.237 2.555.204.553.077 10.902.071.438.314 Balance, January 1, 2012

Laba (rugi) komprehensif tahun Comprehensive income (loss)

Berjalan - - - (165.139.109.367) - - (39.596.256.737) - - (133.012.253.347) (337.747.619.451) 23.951.158 (337.723.668.293) for the year

Pelaksanaan waran (Catatan 30) 360.214.075.400 234.139.149.010 - - - 594.353.224.410 - 594.353.224.410 Exercise warran (Note 30)

Penambahan investasi pada Addition investment in

entitas Anak oleh kepentingan Subsidiaries by Non-controlling

nonpengendali - - - - - - - - (783.475.983.912) (783.475.983.912) Shareholders

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September 30, 2012 September 30, 2011

ARUS KAS DARI AKTIVITAS OPERASI CASH FLOWS FROM OPERATING

Penerimaan kas dari pelanggan 1.581.684.927.813 1.583.335.350.358 Cash received from customers

Pembayaran kas kepada pemasok (979.977.794.380 ) (1.089.361.749.394 ) Cash paid to suppliers

Pembayaran kas kepada karyawan (209.475.040.908 ) (157.810.079.058 ) Cash paid to employees

Pembayaran kas untuk beban usaha (290.139.250.084 ) (225.999.056.193 ) Cash paid for operating expenses

Kas yang digunakan untuk operasi 102.092.842.441 110.164.465.713 Cash used in operations

Penerimaan bunga 3.532.545.894 28.889.655.199 Interest received

Pembayaran beban bunga dan keuangan (187.257.012.371 ) (153.583.780.345 ) Interest and financial expenses payment

Pembayaran pajak (62.056.643.615 ) (53.802.201.606 ) Tax payment

Kas Bersih Yang Digunakan Untuk

Aktivitas Operasi (143.688.267.651 ) (68.331.861.039 ) Net Cash Used For Operating Activities

ARUS KAS DARI AKTIVITAS CASH FLOWS FROM INVESTING

INVESTASI ACTIVITIES

Pembelian dan pematangan tanah (329.826.406.755 ) (582.918.061.155 ) Acquisition of land & land clearing

Pembelian aset tetap (852.227.416.015 ) (157.677.668.126 ) Acquisition of fixed assets

Peningkatan penyertaan saham Increase in investment in shares

dan uang muka pembelian saham 36.543.716.866 147.861.006.423 of stock and advance for share purchase

Pembayaran utang (306.723.561.865 ) - Payables payment

Penurunan investasi jangka

pendek 602.460.359 645.960.852.347 Decrease in short-term investments

Penurunan (peningkatan) Decrease (increase)

dana dalam pembatasan (53.977.594.759 ) 69.470.761.136 in restricted funds

Penerimaan penjualan aset tetap 2.729.319.783 190.759.100 Proceeds from sale of fixed assets

Peningkatan aset KSO (1.688.299.007 ) (100.023.424.717 ) Increase in KSO asset

Kas Bersih Yang Diperoleh Dari Net Cash Received From

(Digunakan Untuk) Aktivitas Investasi (1.504.567.781.393 ) 22.864.225.008 (Used For) Investing Activities

ARUS KAS DARI AKTIVITAS CASH FLOWS FROM FINANCING

PENDANAAN ACTIVITIES

Peningkatan pinjaman jangka panjang 289.305.747.963 582.281.340.268 Increase in long-term debt

Peningkatan tambahan modal disetor Increased in additional paid-in capital

- Realisasi waran 234.139.149.014 35.000 Exercise warrant

-Pembayaran obligasi (90.000.000.000 ) (220.000.000.000 ) Bond payment

Peningkatan pinjaman Increase in short-term

bank jangka pendek 103.001.580.456 75.663.826.024 bank loans

Peningkatan (penurunan) utang

pihak berelasi 155.087.223.804 111.392.559.421 Increase (decrease) due to related parties

Peningkatan modal disetor Increase in issued and fully paid capital stock

- Realisasi waran 360.214.075.400 22.750 Exercise warrant

-Penurunan utang sewa pembiayaan 150.453.048 3.279.818.826 Decrease in obligation under capital lease

Peningkatan piutang pihak berelasi (7.182.043.804 ) (36.935.828.142 ) Increase in due from related parties

Penurunan utang usaha jangka panjang (6.232.973.468 ) (204.011.589.847 ) Decrease in long-term trade payables

Penerimaan dari pemegang saham Proceed from non-controlling

non-pengendali di Entitas Anak 200.000.000.000 - shareholders in Subsidiary

Kas Bersih Yang Diperoleh Dari Net Cash Received From

Aktivitas Pendanaan 1.238.483.212.413 311.670.184.300 Financing Activities

KENAIKAN (PENURUNAN) BERSIH NET DECREASED IN

KAS DAN SETARA KAS (409.772.836.631 ) 266.202.548.269 CASH AND CASH EQUIVALENTS

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS

AWAL TAHUN 597.128.042.339 860.557.957.179 AT BEGINNING OF THE YEAR

DAMPAK BERSIH PERUBAHAN NET EFFECTS OF CHANGES IN

NILAI TUKAR ATAS KAS DAN EXCHANGE RATE ON CASH AND

SETARA KAS 415.612.069 1.320.603.551 CASH EQUIVALENTS

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS

AKHIR TAHUN 187.770.817.777 1.128.081.108.999 AT END OF THE YEAR

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1. UMUM 1. GENERAL

a. Pendirian Perusahaan dan informasi umum a. Establishment and general information

PT Bakrieland Development Tbk. (“Entitas Induk”) didirikan pada tanggal 12 Juni 1990 dengan Akta Notaris John Leonard Waworuntu, S.H., No. 209. Akta pendirian Entitas Induk disahkan oleh Menteri Kehakiman Republik Indonesia dalam Surat Keputusan No. C2-1978.HT.01.01.TH.91 tanggal 31 Mei 1991 dan diumumkan dalam Berita Negara Republik Indonesia No. 93 tanggal 19 November 1991. Anggaran dasar Entitas Induk telah mengalami beberapa kali perubahan, antara lain, mengenai perubahan nama dari PT Elang

Realty Tbk. menjadi PT Bakrieland

Development Tbk. yang diaktakan dengan Akta Notaris Harun Kamil, S.H., No. 29 tanggal 3 April 1997, yang telah disetujui oleh Menteri Kehakiman Republik Indonesia dalam Surat Keputusan No. C2-3097.HT.01.04.Th.97 tanggal 25 April 1997, dan perubahan Anggaran Dasar selanjutnya termuat pada Akta Notaris Sutjipto, S.H., M.Kn., No. 216 tanggal 23 Juni 2008 mengenai penyesuaian Anggaran Dasar Entitas Induk untuk disesuaikan dengan Undang-Undang No. 40 Tahun 2007 tentang Perseroan Terbatas. Perubahan ini telah mendapat persetujuan dari Menteri Hukum dan Hak Asasi Manusia dalam Surat Keputusan No. AHU-58505-AH.01.02. Tahun 2008 tanggal 3 September 2008 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 96 tanggal 28 November 2008 Tambahan No. 25686. Perubahan Anggaran Dasar selanjutnya termuat dalam Akta Pernyataan Keputusan Rapat Perubahan Anggaran Dasar No. 43 tanggal 9 Juni 2011 yang dibuat di hadapan Notaris Aulia Taufani, S.H., selaku Notaris pengganti dari Sutjipto, S.H., notaris di Jakarta. Perubahan tersebut telah mendapat persetujuan dari Menteri Hukum dan Hak Asasi Manusia dalam Surat Keputusan No. AHU-45502.AH.01.02. Tahun 2011 tanggal 19 September 2011. Perubahan Anggaran Dasar terakhir termuat dalam Akta Pernyataan Keputusan Rapat Perubahan Anggaran Dasar No. 26 tanggal 7 Juni 2012 yang dibuat di hadapan Notaris Aryanti Artisari, S.H., M.Kn., notaris di Jakarta. Perubahan tersebut telah diberitahukan kepada Kementerian Hukum dan Hak Asasi Manusia sebagaimana Bukti Penerimaan Pemberitahuan Perubahan Anggaran Dasar No. AHU-AH.01.10-31686 tanggal 31 Agustus 2012.

PT Bakrieland Development Tbk. (“The Company”) was established with Notarial Deed No. 209 of

John Leonard Waworuntu, S.H., dated

June 12, 1990. The Company’s articles of

incorporation was approved by the Minister of Justice of the Republic of Indonesia in its Decision

Letter No. C2-1978.HT.01.01.TH.91 dated

May 31, 1991 and was published in the State Justice of the Republic of Indonesia, in its Decision

Letter No. C2-3097.HT.01.04.Th.97 dated

April 25, 1997 and the last Article of Association Justice of the Republic of Indonesia, in its Decision Letter No. AHU-45502.AH.01.02 Year 2011 dated

September 19, 2011. The last amended

Company’s articles of association stated in Deed of Statement of Meeting of the Company’s Amendment Article of Association No. 26 of Aryanti Artisari, S.H., M.Kn., Notary in Jakarta, dated June 7, 2012. This amendment has been notified to the Minister of Justice of the Republic of Indonesia as stated in Receipt Notification Amendment of the Company’s Amendment Article of Association No. AHU-AH.01.10-31686 dated August 31, 2012.

Sesuai dengan pasal 3 Anggaran Dasarnya, Entitas Induk bergerak dalam bidang pembangunan, perdagangan dan jasa, termasuk usaha jasa manajemen dan penyertaan pada Entitas yang berhubungan dengan usaha real estat dan properti, serta dalam bidang infrastruktur.

According to Article 3 of the Article of Association, the scope of the Company’s activities comprises of development, trading and services, including management service and investment in real estate and property, and infrastructure.

Entitas Induk berdomisili di Jakarta, kantor pusat Entitas Induk berlokasi di Gedung Wisma Bakrie 1 Lantai 6 dan 7, Jalan H.R. Rasuna Said Kav. B1, Jakarta Selatan. Saat ini Grup memiliki properti yang terletak di Jakarta, Bogor, Malang, Sukabumi,

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1. UMUM (lanjutan) 1. GENERAL (continued)

b. Penawaran Umum Efek dan Obligasi Entitas Induk

b. Public Offering of Shares and Bonds of The Company

Pada tanggal 13 Oktober 1995, Entitas Induk telah memperoleh pernyataan efektif dari Ketua Badan

Pengawas Pasar Modal (BAPEPAM)

No. S-1304/PM/1995 untuk melakukan Penawaran Umum Perdana kepada masyarakat atas 110 juta saham dengan nilai nominal Rp 500 per saham melalui Bursa Efek Jakarta dengan harga penawaran Rp 625 per saham. Entitas Induk telah mencatatkan seluruh sahamnya di Bursa Efek Jakarta pada tanggal 30 Oktober 1995.

On October 13, 1995, the Company has obtained an effective statement letter from the Chairman of

the Capital Market Supervisory Agency

(BAPEPAM) No. S-1304/PM/1995 to undertake an Intial Public Offering of its 110 million shares with par value of Rp 500 per share through Jakarta Stock Exchange at the offering price of Rp 625 per share. The Company has listed all its shares issued and fully paid in the Jakarta Stock Exchange on October 30, 1995.

Pada tanggal 15 September 1997, Entitas Induk melakukan Penawaran Umum Terbatas I dengan Hak Memesan Efek Terlebih Dahulu (HMETD) atas 1.050 juta saham dengan nilai nominal dan harga penawaran Rp 500 per saham. Seluruh saham telah dicatatkan di Bursa Efek Jakarta pada tanggal Exchange on October 6, 1997.

Pada tanggal 22 November 2005, Entitas Induk melakukan Penawaran Umum Terbatas II dengan HMETD atas 4,2 miliar saham biasa seri B dengan nilai nominal Rp 100 per saham dan harga penawaran Rp 150 per saham yang seluruh saham yang ditempatkan dan disetor penuh telah dicatatkan di Bursa Efek Jakarta pada tanggal 12 Desember 2005.

On November 22, 2005, the Company conducted a Limited Public Offering II through pre-emptive rights to issue 4.2 billion B series shares with par value of Rp 100 per share and offering price of Rp 150 per share, which all of its shares issued and fully paid have been listed in the Jakarta Stock Exchange on December 12, 2005.

Pada tanggal 16 April 2007 Entitas Induk memperoleh Surat Pemberitahuan Efektif atas Pernyataan Pendaftaran Emisi Saham dari ketua Bapepam-LK untuk melakukan Penawaran Umum Terbatas III dengan HMETD atas 14 miliar saham biasa seri B dengan nominal Rp 100 per saham dan harga penawaran Rp 200 per saham, yang seluruh saham ditempatkan dan disetor penuh telah dicatatkan di Bursa Efek Jakarta pada tanggal 1 Mei 2007. Dengan diterbitkannya saham tersebut, maka jumlah saham Entitas Induk yang telah dicatatkan di bursa menjadi sebanyak 19.600.000.000 saham.

On April 16, 2007, the Company received Effective Letter for share issuance from Bapepam-LK to conduct a Limited Public Offering III through pre-emptive rights to issue 14 billion B series shares with par value Rp 100 per share and offering price of Rp 200 per share, which all of its shares issued and fully paid have been listed in the Jakarta Stock Exchange on May 1, 2007. Therefore the total of the Company’s shares listed on Stock Exchange is 19,600,000,000 shares.

Berkenaan dengan Penawaran Umum Terbatas III, Entitas Induk juga menerbitkan waran, dimana untuk setiap 50 saham baru hasil pelaksanaan HMETD tersebut melekat 7 Waran Seri I yang diberikan cuma-cuma sebagai insentif bagi pemegang saham Entitas Induk dan/atau pemegang HMETD yang melaksanakan haknya (lihat Catatan 30).

In regards to Limited Public Offering III, the Company also issued Warrant Seri I in which for each 50 new shares from pre-emptive rights includes 7 warrants issued as incentive for the Company shareholders and/or pre-emptive rights holders that exercise their right (see Note 30).

Pada tanggal 30 November 2007, Bursa Efek mendapatkan pemberitahuan efektif pernyataan pendaftaran dalam rangka Penawaran Umum Obligasi I Bakrieland Development Tahun 2008 dengan Tingkat Bunga Tetap dari Badan Pengawas Pasar Modal dan Lembaga Keuangan berdasarkan Surat No. S-1220/BL/2008.

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b. Penawaran Umum Efek dan Obligasi Entitas Induk (lanjutan)

b. Public Offering of Shares and Bonds of The Company (continued)

Pada tanggal 11 Maret 2008, Entitas Induk menerbitkan Obligasi I Bakrieland Development Tahun 2008 dengan Tingkat Bunga Tetap, dengan PT Bank Permata Tbk. sebagai wali amanat. Nilai nominal obligasi keseluruhan adalah Rp 500 miliar (lihat Catatan 27 butir b).

On March 11, 2008, the Company issued its Bakrieland Development Bonds I Year 2008 with Fixed Rates, with PT Bank Permata Tbk. as the trustee. The bonds have a total face value of Rp 500 billion (see Note 27 point b).

Pada tanggal 29 Juni 2009, Entitas Induk telah mendapatkan pemberitahuan efektif pernyataan pendaftaran dalam rangka Penawaran Umum Sukuk Ijarah I Bakrieland Development Tahun 2009 dengan cicilan imbalan ijarah sebesar Rp 314,8 juta dari Badan Pengawas Pasar Modal dan Lembaga Keuangan berdasarkan Surat No. S-5660/BL/2009.

On June 29, 2009, the Company received effective confirmation statement in regards with Public Offering of Sukuk Ijarah I Bakrieland Development Year 2009 with annual fixed Ijarah return (“Cicilan Imbalan Ijarah”) totalling of Rp 314.8 million from Capital Market and Financial Institution Supervisory

Agency’s based on its Letter No. S-5660/BL/2009.

Pada tanggal 7 Juli 2009, Entitas Induk menerbitkan Sukuk Ijarah I Bakrieland Development Tahun 2009, dengan PT Bank Mega Tbk. sebagai wali amanat. Nilai nominal Sukuk Ijarah keseluruhan sebesar Rp 150 miliar (lihat Catatan 27 butir c).

On July 7, 2009, the Company issued its Sukuk

Ijarah I Bakrieland Development Year 2009, with PT Bank Mega Tbk. as the trustee. The bonds have a total face value of Rp 150 billion (see Note 27 point c).

Pada tanggal 25 Juni 2010 Entitas Induk memperoleh Surat Pemberitahuan Efektif atas Pernyataan Pendaftaran Emisi Saham dari ketua Bapepam-LK untuk melakukan Penawaran Umum Terbatas IV dengan HMETD atas 19,96 miliar saham biasa seri B dengan nominal Rp 100 per saham dan harga penawaran Rp 160 per saham. Dengan diterbitkannya saham tersebut, maka jumlah saham Entitas Induk yang telah dicatatkan di bursa menjadi sebanyak 39,92 miliar saham.

On June 25, 2010, the Company received Effective

Letter for share issuance from Bapepam-LK to conduct a Limited Public Offering IV through pre-emptive rights to issue 19.96 billion series shares with par value of Rp 100 per share and offering price of Rp 160 per share. Therefore the total of shares listed on Stock Exchange is 39.92 billion shares.

Berkenaan dengan Penawaran Umum Terbatas IV tersebut, Entitas Induk juga menerbitkan waran, dimana untuk setiap 20 saham baru hasil pelaksanaan HMETD tersebut melekat 7 Waran Seri II yang diberikan cuma-cuma sebagai insentif bagi pemegang saham Entitas Induk dan/atau pemegang HMETD yang melaksanakan haknya (lihat Catatan 30).

In regards to the Limited Public Offering IV, the

Company also issued Warrant Series II in which for each 20 new shares from pre-emptive rights includes 7 warrants series II issued as incentive for the Company shareholders and/or pre-emptive rights holders that exercise their right (see Note 30).

c. Struktur Entitas Anak c. The Structure of Subsidiaries

Pada tanggal 30 September 2012 dan 31 Desember 2011, Entitas Induk memiliki Entitas Anak sebagai berikut:

As of September 30, 2012 and December 31, 2011, the Company has Subsidiaries as follows:

30 September 2012/September 30, 2012

Persentase Jumlah Aset

Kepemilikan / (sebelum eliminasi) /

Entitas Anak / Lokasi Proyek / Percentage of Tahun Pendirian / Total Assets

Subsidiaries Domicile Ownership Establishment (before elimination)

Kepemilikan saham secara

Langsung / Direct Ownership:

PT Citrasaudara Abadi (“CSA”) Tangerang,

Banten 99,99 1988 Rp 10.271.285.861

PT Villa Del Sol (“VDS”) a) _Cipanas,

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c. Struktur Entitas Anak (lanjutan) c. The Structure of Subsidiaries (continued)

PT Superwish Perkasa (“SP”) a) _Jakarta _69,99 ₂₀₀₆ _Rp _{651.881.345.283}

PT Bakrie Nirwana Semesta (“BNS”) Jakarta 99,99 2007 Rp 1.446.528.302.277

PT Bumi Daya Makmur (“BDM”) Jakarta 69,99 2006 Rp 593.714.032.546

PT Bakrie Infrastructure (“BI”) Jakarta 69,99 2007 Rp 3.488.305.717.250

PT Bakrie Pangripta Loka (“BPLK”) Jakarta 99,99 2008 Rp 124.998.260.650

PT Bakrie Graha Investama (“BGI”) Jakarta 99,96 2009 Rp 15.204.454.955

PT Bakrie Sentra Investama (“BSI”) a) _Jakarta _99,98 ₂₀₀₉ _Rp _{29.224.084.202}

BLD Investment Pte. Ltd. (”BLDI”) Singapura 100,00 2010 Rp 1.003.152.424.914

Limitless World International Dubai,

Services – 6 Ltd. (“LW-6”) United Arab Emirates 100,00 2008 Rp 773.520.713.518

Kepemilikan saham secara tidak

Langsung / Indirect ownership:

Melalui GAP / Through GAP:

PT Sanggraha Pelita Sentosa Bekasi,

(“SPS”) Sukabumi,

Jawa Barat 99,30 1995 Rp 16.530.147.725

PT Graha Intan Bali (“GIB”) b) _Bali _98,78 ₁₉₉₇ _Rp _{147.581.908.330}

PT Samudra Asia Nasional

(“SAN”) Bali 99,78 2003 Rp 696.229.159.593

PT Dutaperkasa Unggullestari

(“DPUL”) Malang, Jawa Timur 64,86 1992 Rp 184.271.087.312

PT Mutiara Permata Biru (“MPB”) Batam 99,77 1999 Rp 50.164.662.307

PT Bahana Sukmasejahtera

(“BSS”) a) _{Bogor, Jawa Barat} _99,96 ₁₉₉₆ _Rp _{924.246.599.547}

PT Bukit Jonggol Asri (“BJA”) Jonggol, Bogor 50,00 1997 Rp 4.444.895.828.754

Sugillite Company Limited (“SL”) British Virgin Island 99,99 2011 Rp 913.875.458.101

Melalui BSU / Through BSU:

PT Bakrie Pesona Rasuna (“BPR”) Jakarta 94,70 1996 Rp 30.015.900.776

PT Rasuna Residence Development

(“RRD”) Jakarta 94,70 2004 Rp 29.259.973.689

Melalui BNS / Through BNS:

PT Libratindo Gemilang (“LG”) a) _Balikpapan,

Kalimantan Timur 99,99 2006 Rp 74.055.309.848

PT Berkah Puhu Lestari (“BPL”) a) _{Ubud, Bali} _99,99 ₁₉₉₉ _Rp _{15.314.008.034}

PT Bakrie Graha Nirwana (“BGN”) a) _Jakarta _99,80 ₂₀₀₈ _Rp _{23.582.069.418}

PT Nirwana Legian Hotel (“NLH”) Kuta, Bali 99,92 2008 Rp 59.954.263.018

PT Bali Nirwana Resort (“BNR”) _{Tanah Lot, Bali} _52,55 ₁₉₉₂ _Rp _{991.102.667.376}

PT Bakrie Bangun Persada (“B2P”) _Jakarta _99,99 ₂₀₀₈ _Rp _{241.848.469.588}

PT Bakrie Batavia Krisma (“B2K”) Jakarta 80,00 2012 Rp 2.699.472.063

Melalui BI / Through BI:

PT Bakrie Toll Road (“BTR”) Jakarta 65,55 2008 Rp 3.420.982.076.378

PT Amerta Bumi Capital (“ABC”) a) Surabaya 51,00 2009 Rp 5.661.247.715

PT Alberta Utilities (AI) a) _Jakarta _75,03 ₂₀₀₆ _Rp _{3.908.415.162}

Melalui LW-6 / Through LW-6:

PT Bakrie Swasakti Utama (“BSU”) Jakarta 30,00 1982 Rp 3.076.895.510.893

PT Superwish Perkasa (SP) a) _Jakarta _30,00 ₂₀₀₆ _Rp _{651.881.345.283}

Melalui BTR / Through BTR:

PT Satria Cita Perkasa (“SCP”) Jakarta 99,99 2002 Rp 1.435.643.542.867

Transglobal Finance Limited

(“TGF”) a) _{British Virgin Island} _100,00 ₂₀₀₁ _Rp _{176.453.422.763}

Pan Galactic Invesment (“PGI”) _{British Virgin Island} _100,00 ₁₉₉₉ _Rp _{105.872.057.594}

Melalui SCP / Through SCP:

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Melalui TGF / Through TGF:

PT Semesta Marga Raya (“SMR”) _{Jawa Barat} _25,00 ₂₀₀₅ _Rp _{2.985.707.388.847}

Melalui PGI / Through PGI:

Melalui BPLK / Through BPLK:

PT Provices Indonesia (“PVI”) Jakarta 99,74 2008 Rp 46.697.164.771

PT Rasuna Caturtama

Corpora (“RCC”) b) Jakarta 99,59 1994 Rp 485.921.700

Melalui BLDI / Through BLDI:

BLD Asia Pte. Ltd. (“BLDA”) Singapura 100,00 2010 Rp 918.155.364.231

Melalui BGI / Through BGI:

PT Hotel Elty Tenggarong

(formerly PT Bakrie Armo

Nirwana) (“BAN”) Balikpapan,

Melalui BJA / Through BJA:

PT Jungleland Asia

(formerly PT Garda Mulia

Persada) (“JLA”) a) _{Jonggol, Bogor} _99,83 ₂₀₁₁ _Rp _{773.309.927.910}

Melalui SL / Through SL:

PT Bali Nirwana Resort (“BNR”) Tanah Lot, Bali 47,45 1992 Rp 991.102.667.376

31 Desember 2011/December 31, 2011

Persentase Jumlah aset

Entitas Anak / Lokasi proyek / Percentage of Tahun Pendirian / Total Assets

PT Citrasaudara Abadi (“CSA”) a) _Tangerang,

Banten 99,99 1988 Rp 10.347.541.085

PT Villa Del Sol (“VDS”) a) b) Cipanas,

Jawa Barat 99,99 1990 Rp 253.155.483.233

PT Krakatau Lampung Tourism

Development (“KLTD”) a) _Lampung _90,00 ₁₉₉₄ _Rp _{170.083.088.198}

PT Graha Andrasentra Bogor,

Propertindo (“GAP”) Jawa Barat 99,78 1988 Rp 7.153.081.533.958

PT Bakrie Swasakti Utama (“BSU”) Jakarta 69,62 1982 Rp 3.325.281.752.454

PT Superwish Perkasa (“SP”) b) _Jakarta _69,99 ₂₀₀₆ _Rp _{669.719.332.407}

PT Bakrie Nirwana Semesta (“BNS”) Jakarta 99,99 2007 Rp 1.220.664.321.293

PT Bakrie Infrastructure (“BI”) Jakarta 69,99 2007 Rp 3.496.522.085.855

PT Bakrie Pangripta Loka (“BPLK”) Jakarta 99,99 2008 Rp 93.733.010.542

PT Bakrie Graha Investama (“BGI”) a) _Jakarta _99,96 ₂₀₀₉ _Rp _{14.652.514.146}

PT Bakrie Sentra Investama (“BSI”) a) b) _Jakarta _99,98 ₂₀₀₉ _Rp _{28.669.296.771}

BLD Investment Pte. Ltd. (”BLDI”) a) _Singapura _100,00 ₂₀₁₀ _Rp _{1.053.140.435.888}

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Persentase Jumlah aset

Entitas Anak / Lokasi proyek / Percentage of Tahun Pendirian / Total Assets

Melalui GAP / Through GAP:

PT Dutaperkasa Unggullestari

(“DPUL”) Malang, Jawa Timur 64,86 1992 Rp 181.325.552.840

PT Mutiara Permata Biru (“MPB”) Batam 99,77 1999 Rp 59.331.154.363

PT Bahana Sukmasejahtera

(“BSS”) a) _{Bogor, Jawa Barat} _99,96 ₁₉₉₆ _Rp _{924.794.402.325}

PT Bukit Jonggol Asri (“BJA”) Jonggol, Bogor 50,00 1997 Rp 3.444.091.206.370

Melalui BSU / Through BSU:

PT Bakrie Pesona Rasuna (“BPR”) Jakarta 94,70 1996 Rp 19.336.844.105

PT Rasuna Residence Development

(“RRD”) Jakarta 94,70 2004 Rp 26.436.004.243

Melalui BNS / Through BNS:

PT Libratindo Gemilang (“LG”) a) Balikpapan,

PT Berkah Puhu Lestari (“BPL”) a) _{Ubud, Bali} _99,99 ₁₉₉₉ _Rp _{15.419.224.507}

PT Bakrie Graha Nirwana (“BGN”) a) _Jakarta _99,80 ₂₀₀₈ _Rp _{10.721.951.906}

PT Nirwana Legian Hotel (“NLH”) Kuta, Bali 99,92 2008 Rp 47.796.169.113

PT Bali Nirwana Resort (“BNR”) _{Tanah Lot, Bali} _52,55 ₁₉₉₂ _Rp _{978.863.748.408}

PT Bakrie Bangun Persada (“B2P”) _Jakarta _99,99 ₂₀₀₈ _Rp _{196.344.246.316}

Melalui BI / Through BI:

PT Bakrie Toll Road (“BTR”) Jakarta 99,99 2008 Rp 3.430.739.273.359

PT Amerta Bumi Capital (“ABC”) a) _Surabaya _51,00 ₂₀₀₉ _Rp _{3.852.900.733}

PT Alberta Utilities (AI) a) _Jakarta _75,03 ₂₀₀₆ _Rp _{3.891.099.499}

Melalui BTR / Through BTR:

PT Satria Cita Perkasa (“SCP”) Jakarta 99,99 2002 Rp 3.053.763.767.249

Transglobal Finance Limited

(“TGF”) a) _{British Virgin Island} _100,00 ₂₀₀₁ _Rp _{176.453.422.763}

Pan Galactic Invesment (“PGI”) _{British Virgin Island} _100,00 ₁₉₉₉ _Rp _{105.872.057.594}

Melalui SCP / Through SCP:

Melalui TGF / Through TGF:

Melalui PGI / Through PGI:

Melalui BPLK / Through BPLK:

PT Provices Indonesia (“PVI”) Jakarta 99,74 2008 Rp 31.755.198.162

PT Rasuna Caturtama

Corpora (“RCC”) b) _Jakarta _99,59 ₁₉₉₄ _Rp _485.921.700

Melalui BLDI / Through BLDI:

BLD Asia Pte. Ltd. (“BLDA”) Singapura 100,00 2010 Rp 842.750.059.276

PT Hotel Elty Tenggarong

(formerly PT Bakrie Armo

Nirwana) (“BAN”) Balikpapan,

Melalui BJA / Through BJA:

PT Jungleland Asia

(formerly PT Garda Mulia

Persada) (“JLA”) a) _{Jonggol, Bogor} _99,83 ₂₀₁₁ _Rp _{299.309.613.971}

a)

Entitas dalam tahap pengembangan

b)

Tidak aktif

a)

A company under development stage

b)

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c. Struktur Entitas Anak (lanjutan) c. The Structure of Subsidiaries (continued) Kegiatan usaha Entitas Anak adalah sebagai berikut: Activities of Subsidiaries are as follows:

Entitas Anak / Subsidiaries

Kegiatan usaha / Activities Kepemilikan langsung / Direct ownership

PT Citrasaudara Abadi Perumahan / Residential area

PT Villa Del Sol Pengembangan pariwisata di Cianjur, Jawa Barat / Tourism Development in Cianjur, West Java

PT Krakatau Lampung Tourism Development Pembangunan kawasan wisata Krakatoa Nirwana Resort / Krakatoa Nirwana Resort Tourism Resort Development

PT Graha Andrasentra Propertindo Real estat, properti, perumahan dan perhotelan / Real estate, property, residential area and hotels

PT Bakrie Swasakti Utama Real estat, properti, apartemen, perhotelan dan perkantoran / Real estate, property, apartment, hotels and office spaces

PT Superwish Perkasa Pembangunan dan real estat / Construction and real estate

PT Bakrie Nirwana Semesta Pembangunan, perdagangan dan jasa / Construction, trading and services

PT Bumi Daya Makmur Perdagangan, pembangunan dan jasa / Trading, construction and services

PT Bakrie Infrastructure Pembangunan, perdagangan dan jasa / Construction, trading and services

PT Bakrie Pangripta Loka Perdagangan, pembangunan dan jasa / Trading, construction and services

PT Bakrie Graha Investama Perdagangan, pembangunan dan jasa / Trading, construction and services

PT Bakrie Sentra Investama Perdagangan, pembangunan dan jasa / Trading, construction and services

BLD Investment Pte. Ltd. Investasi dan pendanaan / Investments and refinancing

Limitless World International Services - 6 Perusahaan investasi / Investments company

Kepemilikan tidak langsung / Indirect ownership

Melalui GAP / Through GAP:

PT Sanggraha Pelita Sentosa Perumahan Graha Taman Kebayoran dan Graha Taman Sukabumi /

Housing of Graha Taman Kebayoran and Graha Taman Sukabumi

PT Graha Intan Bali Perhotelan / Hotels

PT Samudra Asia Nasional Perhotelan / Hotels

PT Dutaperkasa Unggullestari Perumahan dan real estat / Residential area and real estate

PT Mutiara Permata Biru Perumahan dan bidang industri estat / Residential area and real estate

PT Bahana Sukmasejahtera Perumahan dan real estat / Residential area and real estate

PT Bukit Jonggol Asri Perumahan dan real estat / Residential area and real estate Sugillite Company Limited. Investasi dan pendanaan / Investments and refinancing

Melalui BSU / Through BSU:

PT Bakrie Pesona Rasuna Pengelola Pasar Festival, Klub Rasuna, Gelanggang Mahasiswa “Soemantri Brojonegoro” / Management of Pasar Festival, Klub Rasuna, Sport Center “Soemantri Brojonegoro”

PT Rasuna Residence Development Pengelola Hotel Aston Residence / Management of Hotel Aston Residence

Melalui BNS / Through BNS:

PT Libratindo Gemilang Pembangunan dan real estat / Construction and real estate

PT Berkah Puhu Lestari Perhotelan / Hotels

PT Bakrie Graha Nirwana Perhotelan / Hotels

PT Nirwana Legian Hotel Perhotelan dan Pariwisata / Hotel and Tourism

PT Bali Nirwana Resort Perhotelan dan Pariwisata / Hotel and Tourism

PT Bakrie Bangun Persada PT Bakrie Batavia Krisma

Perhotelan dan Pariwisata / Hotel and Tourism

Melalui BI / Through BI:

PT Bakrie Toll Road Pembangunan, perdagangan dan jasa / Construction, trading and services

PT Alberta Utilities Pembangunan, perdagangan dan jasa / Construction, trading and services

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Entitas Anak / Subsidiaries

Kegiatan usaha / Activities Melalui BTR / Through BTR:

PT Satria Cita Perkasa Perdagangan, pembangunan, jasa, pengangkutan darat,

perbengkelan, percetakan, pertanian, pertambangan, real estate dan perindustrian / Trading, construction, service, transportation, workshop, printing, agriculture, mining, real estate and industry

Transglobal Finance Limited Entitas investasi / Investment holding company

Pan Galactic Investment Entitas investasi / Investment holding company

Melalui SCP / Through SCP:

PT Semesta Marga Raya Pembangunan dan pengusahaan jalan tol / construction and development of toll road project

Melalui TGF / Through TGF:

Melalui PGI / Through PGI:

Melalui BPLK / Through BPLK:

PT Provices Indonesia Pengelola gedung, apartemen dan perumahan / Management of

building, apartment and residential area

PT Rasuna Caturtama Corpora Properti / Property

PT Hotel Elty Tenggarong (dahulu PT Bakrie Armo Nirwana)

Perhotelan dan Pariwisata / Hotel and Tourism

Melalui BLDI / Through BLDI:

BLD Asia Pte. Ltd. Investasi dan pendanaan / Investments and refinancing

Melalui BJA / Through BJA:

PT Jungleland Asia Pembangunan kawasan pariwisata / Development of tourism

area

Melalui SL / Through SL:

PT Bali Nirwana Resort Perhotelan dan Pariwisata / Hotel and Tourism

Melalui Limitless World International Services - 6 /

Through Limitless World International Services - 6:

PT Bakrie Swasakti Utama Real estat, properti, apartemen, perhotelan dan perkantoran /

Real estate, property, apartment, hotels and office spaces

PT Bumi Daya Makmur Perdagangan, pembangunan dan jasa / Trading, construction

and services

PT Superwish Perkasa Pembangunan dan real estat / Construction and real estate

Pada tanggal 30 September 2012, PT Graha Intan Bali dan PT Rasuna Caturtama Corpora merupakan Entitas yang tidak aktif beroperasi, sedangkan, PT Villa Del Sol, PT Libratindo Gemilang, PT Berkah Puhu Lestari, PT Bakrie Graha Nirwana, PT Bahana Sukmasejahtera, PT Alberta Utilities, PT Bakrie Sentra Investama, PT Amerta Bumi Capital dan PT Jungleland Asia merupakan Entitas yang masih dalam tahap pengembangan.

As of September 30, 2012, PT Graha Intan Bali and

PT Rasuna Caturtama Corpora are inactive,

meanwhile PT Villa Del Sol, PT Libratindo Gemilang, PT Berkah Puhu Lestari, PT Bakrie Graha Nirwana, PT Bahana Sukmasejahtera, PT Alberta Utilities, PT Bakrie Sentra Investama, PT Amerta Bumi Capital and PT Jungleland Asia are under development stages.

d. Dewan komisaris, Direksi dan Karyawan d. Boards Commissioners, Directors and Employees

Pada tanggal 30 September 2012 susunan dewan komisaris dan direksi Entitas Induk berdasarkan Akta Notaris Aryanti Artisari, S.H., M.Kn., No. 26 tanggal 7 Juni 2012 adalah sebagai berikut:

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d. Dewan komisaris, Direksi dan Karyawan (lanjutan)

d. Boards Commissioners, Directors and Employees (continued)

Dewan Komisaris / Board of Commissioners Direksi/ Board of Directors

1. Bambang Irawan Hendradi - Presiden Komisaris / 1. Ambono Janurianto - Presiden Direktur /

President Commissioner President Director

2. Supartono - Komisaris / Commissioner 2. Azrul Azwar Bin Ab Latif - Direktur / Director

3. Armansyah Yamin - Komisaris / Commissioner 3. Feb Sumandar - Direktur / Director

4. Amir Abdul Rachman - Komisaris / Commissioner

5. Lukman Purnomosidi - Komisaris Independen /

Independent Commissioner

6. Kanaka Puradiredja - Komisaris Independen /

Pada tanggal 31 Desember 2011 susunan dewan komisaris dan direksi Entitas Induk berdasarkan Akta Notaris Andalia Farida, S.H., M.H., No. 15 tanggal 2 November 2011 adalah sebagai berikut:

As of December 31, 2011, the Company’s boards of commissioners and directors based on Notarial Deed of Andalia Farida, S.H., M.H., No. 15 dated November 2, 2011, as follows:

Dewan Komisaris / Board of Commissioners Direksi/ Board of Directors

1. Bambang Irawan Hendradi - Presiden Komisaris / 1. Hiramsyah Sambudhy Thaib - Presiden Direktur /

President Commissioner President Director

2. Supartono - Komisaris / Commissioner 2. Achmad Amri Aswono Putro - Direktur / Director

3. Armansyah Yamin - Komisaris / Commissioner 3. Feb Sumandar - Direktur / Director

4. Lukman Purnomosidi - Komisaris Independen /

5. Kanaka Puradiredja - Komisaris Independen /

Pada tanggal 30 September 2012 dan 31 Desember 2011, jumlah karyawan tetap Grup adalah 1.887 orang (tidak diaudit).

As of September 30, 2012 and December 31, 2011, Group have a total of 1,887 permanent employees (unaudited).

Gaji dan kompensasi lainnya yang dibayarkan kepada dewan komisaris dan direksi Grup pada tanggal 30 September 2012 dan 2011 adalah sebagai berikut:

Remunerations of the boards of commissioners and directors of the Group for as of September 30, 2012 and 2011 are as follows:

30 September 2012/ 30 September 2011/

September 30, 2012 September 30, 2011

Dewan Komisaris 4.882.500.000 1.910.000.000 Board of Commissioners

Direksi 5.076.410.540 3.538.853.014 Board ofDirectors

Jumlah 9.958.910.540 5.448.853.014 Total

Susunan anggota komite audit pada tanggal 30 September 2012 dan 31 Desember 2011 adalah sebagai berikut:

The composition of audit committee as of September 30, 2012 and December 31, 2011 are as follows:

30 September 2012 / September 30, 2012 Dan / And

31 Desember 2011 / December 31, 2011

Ketua Kanaka Puradiredja Chairman

Anggota Soenarso Soemodiwirjo Member