r. Nanda Widya Drs. Freddy Soetanto Jakarta, 28 Oktober October 28, 2011 METERAI TEMPEL PAJAK M"NBANGUN HANGSA TGL 20

(1)

Metland

SURAT PERNYATAAN DIREKSI

TENTANG

TANGGUNG JAWAB ATAS LAPORAN KEUANGAN INTERIM KONSOLIDASIAN

UNTUK PERI ODE SEMBI LAN BULAN YANG BERAKHIR 30 SEPTEMBER 2011 DAN 2010

PT METROPOLITAN LAND TbkDAN ENTITAS ANAKI

DIRECTORS' STATEMENT LETTER

.

RELATING TO

THE RESPONSIBILITY ON THE CONSOLIDATED INTERIM FINANCIAL STA TEMENTS

FOR THE NINE-MONTH PERIODS ENDED SEPTEMBER 30,2011 AND 2010

PT METROPOLITAN LAND Tbk AND ITS SUBSIDIARIES

1. NamalName

Alamat kantor/Office address

Alamat domisili sesuai KTP atau kartu indentitas

lain/Domicile as stated in ID Card

Nomor telepon/Phone number

Jabatan/Position

2. NamalName

Alamat kantor/Office address

Alamat domisili sesuai KTP atau kartu indentitas

lainlDomicile as stated in

10

Card

Nomor telepon/Phone number

Jabatan/Position

menyatakan bahwa:

1. Bertanggung

jawab

atas

penyusunan

dan

penya/'Ian

laporan

keuangan

interim

konso idasian perusahaan;

2. Laporan

keuangan

interim

konsolidasian

perusahaan telah disusun dan disajikan sesuai

dengan

standar

akuntansi

keuangan

di

Indonesia;

Semua informasi dalam laporan keuangan

interim

konsolidasian

perusahaan

telah

dimuat secara lengkap dan benar;

Laporan

keuangan

interim

konsolidasian

perusahaan

tidak

mengandung

informasi

atau fakta material yang tidak benar dan

tidak menghilangkan

informasi

atau fakta

material;

4. Bertanggung jawab

atas sistem

pengendalian

intern dalam Perusahaan dan entitas anak.

Ir. Nanda Widya

Ariobimo Sentral Lt. 10

JI. HR. Rasuna Said X-2 Kav. 5

Jakarta

Kintamani II NO.3 Kelapa Gading

Jakarta

021 - 5226188

Presiden Direktur I President Director

Drs. Freddy Soetanto

Ariobimo Sentral Lt. 10

JI. HR. Rasuna Said X-2 Kav. 5

Jakarta

Puri Kencana J4 No. 29

Kebon Jeruk, Jakarta

021 - 5226188

Direktur Keuangan I Finance Director

1. We are responsible for the preparation and presentation

of the consolidated financial statements;

2. The

consolidated

financial

statements

have

been

prepared and presented in accordance with financial

'accounting standard in Indonesia;

All

information

contained

in the

consolidated

financial statements is complete and correct;

The

consolidated

financial

statements

do not

contain misleading material information or facts

and do not omit material information and facts;

4. We

are

responsible

for

the

Company

and

its

subsidiaries internal control system.

Jakarta, 28 Oktober 20111 October 28, 2011

METERAI

TEMPEL

PAJAK M"NBANGUNHANGSA

TGL 20

r. Nanda Widya

Presiden Utama I President Director

Drs. Freddy Soetanto

Direktur Keuangan I Finance Director

~

UKAS MANAGEMENT SYSTEMS

,."

PT. Metropolitan Land Tbk

Gedung Ariobimo Sentral It. 10

JI. HR. Rasuna Said Blok X-2 Kav. 5

Jakarta 12950 - Indonesia

Tel. : +6221 5226188, Fax. : +6221 5226189

website: www.metropolitanland.com

(2)

PT. METROPOLITAN LAND Tbk DAN ENTITAS ANAK PT. METROPOLITAN LAND Tbk AND ITS SUBSIDIARIES

LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

30 SEPTEMBER 2011, 31 DESEMBER 2010 DAN 1 JANUARI 2010 SEPTEMBER 30, 2011, DECEMBER 31, 2010 AND JANUARY 1, 2010

30 Sepetmber/ 31 Desember/ 1 Januari/ Catatan/ September 30, December 31, January 1,

Notes 2011 2010 *) 2010 *)

Rp '000 Rp '000 Rp '000

ASET ASSETS

Kas dan setara kas 3g,3i,6 368,071,689 9,680,888 13,973,527 Cash and cash equivalents Piutang usaha - setelah dikurangi Trade accounts receivable - net of

penyisihan piutang ragu-ragu sebesar allowance for doubtful accounts of

Rp 1.128.925 ribu pada tanggal Rp 1.128.925,- thousand as of

30 September 2011, Rp 1.332.396 ribu September 30, 2011, Rp 1,332,396 thousand pada tanggal 31 Desember 2010 dan as of December 31, 2010 and

Rp 1.204.024 ribu pada tanggal Rp 1,204,024 thousand as of

1 Januari 2010 3g,7 67,180,513 41,208,916 48,612,758 January 1, 2010 Piutang lain-lain 3g 703,858 994,135 1,594,148 Other accounts receivable Persediaan 3j 1,161,043 789,296 613,173 Inventories

Pajak dibayar dimuka 3r,8 6,308,411 6,363,784 5,238,762 Prepaid taxes

Uang muka dan biaya dibayar dimuka 9 38,702,465 15,730,074 5,670,898 Advances and prepaid expenses Dana yang dibatasi penggunaannya 3g,10 36,748,302 19,814,848 10,288,801 Restricted fund

Aset real estat 3k,11 756,609,649 715,196,045 621,006,342 Real estate assets Properti investasi - setelah dikurangi Investment properties - net of

akumulasi penyusutan sebesar accumulated depreciation of

Rp 107.810.689,- ribu pada tanggal Rp 107.810.689,- thousand as of

1 Januari 2010 3l,12 219,359,057 215,815,900 212,406,084 January 1, 2010

Piutang kepada pihak berelasi 3g,32 435,638 885,638 - Accounts receivable from related parties Aset pajak tangguhan 3r,29 3,006,954 3,416,513 4,872,215 Deferred tax assets

Aset tetap - setelah dikurangi Property and equipment - net

akumulasi penyusutan sebesar of accumulated depreciation of

Rp 86.357.966,- ribu pada tanggal Rp 86.357.966,- thousand as of

1 Januari 2010 3m,13 163,584,977 124,886,697 87,587,553 January 1, 2010 Aset lain-lain 3g,14 25,344,622 1,095,778 458,636 Other assets

JUMLAH ASET 1,687,217,178 1,155,878,512 1,012,322,897 TOTAL ASSETS

*) Disajikan kembali - Catatan 5 *) As restated - Note 5

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.

(3)

LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

30 SEPTEMBER 2011, 31 DESEMBER 2010 DAN 1 JANUARI 2010 SEPTEMBER 30, 2011, DECEMBER 31, 2010 AND JANUARY 1, 2010

30 September/ 31 Desember/ 1 Januari/ Catatan/ September 30, December 31, January 1,

Notes 2011 2010 *) 2010 *)

Rp '000 Rp '000 Rp '000

LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS LIABILITIES

Utang bank 3h,15 154,219,109 193,125,991 156,500,790 Bank loans

Utang usaha 3h,16 22,704,936 17,184,120 11,150,348 Trade accounts payable Utang lain-lain 3h,17 16,903,330 9,257,567 5,898,727 Other accounts payable Utang pajak 3r,18 21,288,518 17,882,493 17,480,493 Taxes payable Biaya masih harus dibayar 3h,32 4,130,726 4,605,062 6,208,446 Accrued expenses

Pendapatan diterima dimuka dan Unearned revenue and sales

uang muka penjualan 3q,19 128,669,675 97,880,355 90,919,947 advances Uang jaminan pelanggan 3g 5,338,850 4,371,716 4,971,942 Customers' deposits

Utang kepada pihak berelasi 3h,32 12,179 269,500 - Accounts payable to related parties Provisi imbalan pasca-kerja 3s,31 20,247,918 18,355,786 15,569,688 Provision for post-employment benefits Jumlah Liabilitas 373,515,241 362,932,590 308,700,381 Total Liabilities

EKUITAS EQUITY

Modal saham - nilai nominal Rp 100 Capital Stock - Rp 100 par value per share per saham

Modal dasar - 20.000.000.000 saham Authorized capital - 20,000,000,000 shares Modal ditempatkan dan disetor - Issued and paidin capital

-7.579.333.000 saham pada tanggal 7,579,333,000 shares as of September 30, 30 September 2011 dan 5.684.500.000 saham 2011 and 5,684,500,000 shares pada tanggal 31 Desember 2010 dan as of December 31, 2010 and 1 Januari 2010 20 757,933,300 568,450,000 568,450,000 January 1, 2010

Tambahan modal disetor 21 240,745,174 8,594 8,594 Additional paid-in capital Ekuitas entitas anak yang berasal dari Equity in subsidiary resulting from

penyajian kembali laporan keuangan 5 15,836,227 - restatement of financial statements

Saldo laba - defisit sebesar Retained earnings - deficit of

Rp 327.190.006 ribu telah dieliminasi Rp 327,190,006 thousand was dalam rangka kuasi-reorganisasi pada eliminated in connection with quasi -tanggal 31 Desember 2004 296,271,543 190,647,964 121,582,924 reorganization on December 31, 2004 Ekuitas yang dapat diatribusikan Equity attributable to owners

kepada pemilik entitas induk 1,294,950,017 774,942,785 690,041,518 of the parent Kepentingan nonpengendali 23 18,751,920 18,003,137 13,580,998 Non-controlling interests Jumlah Ekuitas 1,313,701,937 792,945,922 703,622,516 Total Equity

JUMLAH LIABILITAS DAN EKUITAS 1,687,217,178 1,155,878,512 1,012,322,897 TOTAL LIABILITIES AND EQUITY

*) Disajikan kembali - Catatan 5 *) As restated - Note 5

(4)

-PT. METROPOLITAN LAND Tbk DAN ENTITAS ANAK PT. METROPOLITAN LAND Tbk AND ITS SUBSIDIARIES LAPORAN LABA RUGI KOMPREHENSIF KONSOLIDASIAN CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME UNTUK PERIODE SEMBILAN BULAN YANG BERAKHIR FOR THE NINE-MONTH PERIODS ENDED

30 SEPTEMBER 2011 DAN 2010 SEPTEMBER 30, 2011 AND 2010

Catatan/

Notes 2011 2010

Rp '000 Rp '000

PENDAPATAN USAHA 3q,24 384,458,174 244,040,980 REVENUES

BEBAN LANGSUNG DAN BEBAN POKOK

PENJUALAN 3q,25 178,427,959 114,699,171 DIRECT COSTS AND COST OF SALES

LABA BRUTO 206,030,214 129,341,809 GROSS PROFIT

Beban penjualan 3q,26 (13,237,087) (8,534,662) Selling expenses

Beban administrasi 3q,27 (57,276,251) (45,765,804) Administrative expenses

Penghasilan administrasi 2,661,062 4,471,927 Administration income

Penghasilan bunga 5,571,433 203,135 Interest income

Beban bunga dan keuangan 28 (15,215,648) (14,061,065) Interest expense and financial charges

Lain-lain - bersih (595,740) (1,346,350) Others - net

LABA SEBELUM PAJAK 127,937,982 64,308,990 PROFIT BEFORE TAX

BEBAN PAJAK PENGHASILAN 3r,29 (22,321,503) (14,403,645) INCOME TAX CHARGES

LABA DAN JUMLAH LABA RUGI PROFIT AND TOTAL COMPREHENSIVE

KOMPREHENSIF PERIODE BERJALAN 105,616,479 49,905,345 INCOME FOR THE PERIOD LABA DAN JUMLAH LABA RUGI

KOMPREHENSIF YANG DAPAT PROFIT AND TOTAL COMPREHENSIVE

DIATRIBUSIKAN KEPADA : INCOME ATTRIBUTABLE TO:

Pemilik entitas induk 105,623,580 49,917,918 Owners of the parent

Kepentingan nonpengendali (7,101) (12,572) Non-controlling interests

Jumlah 105,616,479 49,905,346 Total

LABA PER SAHAM DASAR EARNINGS PER SHARE

(Dalam Rupiah penuh) 3t,30 16.52 8.78 (Full amount in Rupiah)

(5)

LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

UNTUK PERIODE SEMBILAN BULAN YANG BERAKHIR 30 SEPTEMBER 2011 DAN 2010 FOR THE NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2011 AND 2010 Ekuitas entitas anak yang berasal dari penyajian kembali laporan keuangan/ Tambahan Equity in modal subsidiary

Modal disetor/ resulting from Kepentingan

disetor/ Additional restatement of Saldo laba/ nonpengendali/ Jumlah Catatan/ Paid-in paid-in financial Retained Jumlah/ Non-controlling ekuitas/ Notes capital stock capital statements earnings Total interests Total equity

Rp '000 Rp '000 Rp '000 Rp '000 Rp '000 Rp '000 Rp '000

Saldo per 1 Januari 2010 sebelum Balance as of January 1, 2010

disajikan kembali 568,450,000 8,594 - 121,582,924 690,041,518 - 690,041,518 before restatement Kepentingan nonpengendali 5 - - - 13,580,998 13,580,998 Non-controlling interest

Saldo per 1 Januari 2010 setelah Balance as of January 1, 2010

disajikan kembali 568,450,000 8,594 - 121,582,924 690,041,518 13,580,998 703,622,516 after restatement

Jumlah laba rugi komprehensif Total comprehensive income for

periode berjalan - - - - (12,572) (12,572) the period

Saldo per 30 September 2010 568,450,000 8,594 - 121,582,924 690,041,518 13,568,426 703,609,944 Balance as of September 30, 2010

Saldo per 1 Januari 2011 Balance as of January 1, 2011

sebelum disajikan kembali 568,450,000 8,594 - 190,647,964 759,106,558 - 759,106,558 before restatement Kepentingan nonpengendali 5 - - - 17,843,176 17,843,176 Non-controlling interest Ekuitas entitas anak yang berasal

dari penyajian kembali laporan Equity in subsidiary resulting from

keuangan 5 - - 15,836,227 - 15,836,227 159,961 15,996,188 restatement of financial statements

Saldo per 1 Januari 2011 Balance as of January 1, 2011

setelah disajikan kembali 568,450,000 8,594 15,836,227 190,647,964 774,942,785 18,003,137 792,945,922 after restatement Penerbitan saham baru

melalui penawaran saham Issuance of new shares through

perdana setelah dikurangi initial public offering net of

biaya emisi saham 1b,20 189,483,300 240,736,580 - - 430,219,880 - 430,219,880 stock issuance cost Ekuitas entitas anak yang berasal

dari penyajian kembali laporan Equity in subsidiary resulting from

keuangan 5 - - (15,836,227) - (15,836,227) - (15,836,227) restatement of financial statements

Penambahan kepentingan Additional non-controlling interests of

nonpengendali entitas anak 22 - - - 755,883 755,883 subsidiary

Jumlah laba rugi komprehensif Total comprehensive income for

periode berjalan - - - 105,623,580 105,623,580 (7,101) 105,616,479 the period

Saldo per 30 September 2011 757,933,300 240,745,174 - 296,271,544 1,294,950,018 18,751,919 1,313,701,937 Balance as of September 30, 2011

(6)

-PT. METROPOLITAN LAND Tbk DAN ENTITAS ANAK PT. METROPOLITAN LAND Tbk AND ITS SUBSIDIARIES

LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED STATEMENTS OF CASH FLOWS

UNTUK PERIODE SEMBILAN BULAN YANG BERAKHIR FOR THE NINE-MONTH PERIODS ENDED

30 SEPTEMBER 2011 DAN 2010 SEPTEMBER 30, 2011 AND 2010

2011 2010

Rp '000 Rp '000

ARUS KAS DARI AKTIVITAS OPERASI CASH FLOWS FROM OPERATING ACTIVITIES

Penerimaan kas dari pelanggan 393,318,726 233,468,018 Cash receipts from customers

Pembayaran kas kepada pemasok Cash paid to suppliers and other

dan untuk beban operasional lainnya (275,228,961) (154,983,417) operating expenses Pembayaran kas kepada karyawan (40,662,215) (33,087,616) Cash paid to employees Kas dihasilkan dari operasi 77,427,550 45,396,985 Cash generated from operations Pembayaran beban bunga dan keuangan (15,378,598) (14,061,065) Interest and financial charges paid Pembayaran pajak penghasilan (19,590,468) (15,510,576) Income tax paid

Kas Bersih Diperoleh dari Aktivitas Operasi 42,458,484 15,825,344 Net Cash Provided by Operating Activities ARUS KAS DARI AKTIVITAS INVESTASI CASH FLOWS FROM INVESTING ACTIVITIES Penerimaan bunga 5,571,433 203,135 Interest received

Decrease in accounts receivable from Penurunan piutang kepada pihak berelasi 450,000 - related parties

Hasil penjualan aset tetap dan - Proceeds from sale of property and

properti investasi 339,500 equipment and investment properties

Perolehan aset tetap (49,532,168) (57,466,474) Acquisition of property and equipment Perolehan properti investasi (2,339,068) (9,323,604) Acquisition of investment properties Kas Bersih Digunakan untuk Aktivitas Investasi (45,510,303) (66,586,943) Net Cash Used in Investing Activities ARUS KAS DARI AKTIVITAS PENDANAAN CASH FLOWS FROM FINANCING ACTIVITIES

Penerimaan dari hasil penawaran Proceeds from initial public offering

saham perdana 454,759,920 253,789,263 of shares

Penambahan utang bank 313,921,352 Proceeds from bank loans

Penerimaan utang lain-lain 536,000 1,028,265 Receipt from other accounts payable Pembayaran utang bank (354,028,870) (208,049,065) Payments of bank loans

Pembayaran biaya emisi saham (20,550,432) Payments of stock issuance cost Akuisisi saham entitas anak (15,840,000) Stock acquisition of subsidiary Pembayaran utang lain-lain (450,684) 4,459,686 Payments of other accounts payable Kas Bersih Diperoleh dari Aktivitas Pendanaan 378,347,286 51,228,149 Net Cash Provided by Financing Activities

KENAIKAN BERSIH NET INCREASE IN CASH

KAS DAN SETARA KAS 375,295,467 466,550 AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS KAS DAN SETARA KAS AWAL PERIODE 9,680,888 13,973,527 AT BEGINNING OF PERIOD Pengaruh perubahan kurs mata uang asing 28,788 15,007 Effect of foreign exchange rate changes Penambahan dana yang dibatasi

penggunaannya (16,933,454) (5,697,100) Increase in restricted fund

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS

AKHIR PERIODE 368,071,689 8,757,984 AT END OF PERIOD

(7)

PT. METROPOLITAN LAND Tbk

INFORMASI TAMBAHAN

SUPPLEMENTARY INFORMATION

DAFTAR II: LAPORAN LABA RUGI KOMPREHENSIF

SCHEDULE II: STATEMENTS OF COMPREHENSIVE

**ENTITAS INDUK *)**

**INCOME OF PARENT COMPANY*)**

UNTUK PERIODE SEMBILAN BULAN YANG BERAKHIR

FOR THE NINE-MONTH PERIODS ENDED

30 SEPTEMBER 2011 DAN 2010

SEPTEMBER 30, 2011 AND 2010

2011

2010 *)

Rp '000

PENDAPATAN USAHA

280,620,765

177,775,501

REVENUES

BEBAN LANGSUNG DAN BEBAN POKOK

PENJUALAN

131,164,398

84,134,246

DIRECT COSTS AND COST OF SALES

LABA BRUTO

149,456,366

93,641,255

GROSS PROFIT

Beban penjualan

(7,082,281)

(4,010,760)

Selling expenses

Beban administrasi

(36,081,891)

(28,711,105)

Administrative expenses

Penghasilan administrasi

1,347,453

2,358,397

Administration income

Penghasilan bunga

4,474,052

114,471

Interest income

Beban bunga dan keuangan

(15,215,648)

(14,061,065)

Interest expense and financial charges

Lain-lain - bersih

(3,566,115)

(1,751,194)

Others - net

LABA SEBELUM PAJAK

93,331,936

47,580,000

INCOME BEFORE TAX

BEBAN PAJAK PENGHASILAN

(17,137,297)

(11,052,366)

INCOME TAX CHARGES

LABA DAN JUMLAH LABA RUGI

PROFIT AND TOTAL COMPREHENSIVE

KOMPREHENSIF PERIODE BERJALAN

76,194,639

36,527,634

INCOME FOR THE PERIOD

LABA PER SAHAM DASAR

EARNINGS PER SHARE

(Dalam Rupiah penuh)

11.87

6.43 (Full amount in Rupiah)

*) Disajikan kembali menggunakan metode biaya

*) As restated using cost method

(8)

-PT. METROPOLITAN LAND Tbk

PT. METROPOLITAN LAND Tbk

INFORMASI TAMBAHAN

SUPPLEMENTARY INFORMATION

DAFTAR III: LAPORAN PERUBAHAN EKUITAS

SCHEDULE III : STATEMENTS OF CHANGES IN EQUITY

**ENTITAS INDUK *)**

**OF PARENT COMPANY *)**

UNTUK PERIODE SEMBILAN BULAN YANG BERAKHIR

FOR THE NINE-MONTH PERIODS ENDED

30 SEPTEMBER 2011 DAN 2010

SEPTEMBER 30, 2011 AND 2010

Tambahan

modal

Modal

disetor/

Additional

Saldo laba/

Jumlah

Paid-in

paid-in

Retained

ekuitas/

capital stock

capital

earnings

Total equity

Rp '000

Saldo per 1 Januari 2010

568,450,000

8,594

132,421,169

700,879,763

Balance as of January 1, 2010

Jumlah laba rugi komprehensif periode

Total comprehensive income

berjalan

-

20,489,370

for the period

Saldo per 30 September 2010

568,450,000

8,594

152,910,539

721,369,133

Balance as of September 30, 2010

Saldo per 1 Januari 2011

568,450,000

8,594

192,279,745

760,738,339

Balance as of January 1, 2011

Penerbitan saham baru

melalui penawaran saham

Issuance of new share through

perdana setelah dikurangi

initial public offering

biaya emisi saham

189,483,300

240,736,580

-

430,219,880

net of stock issuance cost

Jumlah laba rugi komprehensif periode

Total comprehensive income for

berjalan

76,194,639

the period

Saldo per 30 September 2011

757,933,300

240,745,174

268,474,384

1,267,152,858

Balance as of September 30, 2011

(9)