PT Nirvana Development Tbk dan entitas anaknya/and its subsidiaries

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Laporan Posisi Keuangan Konsolidasian ... 1 - 2 ... Consolidated Statement of Financial Position

Laporan Laba Rugi dan Penghasilan

Consolidated

Statement of Profit or Loss

Komprehensif Lain Konsolidasian ... 3 - 5 ... and Other Comprehensive Income

Laporan Perubahan Ekuitas Konsolidasian ...

6 ... Consolidated Statement of Changes in Equity

Laporan Arus Kas Konsolidasian ... 7 - 8 ... Consolidated Statement of Cash Flows

Catatan Atas Laporan Keuangan Konsolidasian ... 9 - 111 ... Notes to the Consolidated Financial Statements

***************************

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

keuangan konsolidasian secara keseluruhan.

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

statements taken as a whole.

ASET LANCAR CURRENT ASSETS

Kas dan setara kas 676.178.137.451 2d,2s,4 956.494.000.444 Cash and cash equivalents

Piutang usaha - pihak Trade receivables

ketiga - neto 66.428.975.860 2s,3,6,15 38.060.365.547 third parties - net

Piutang lain-lain - pihak ketiga 285.815.531.318 2s,6 276.077.464.487 Other receivables - third parties

Persediaan 136.502.386.698 3,8 149.611.179.152 Inventories

Uang muka 3.046.266.228 626.891.786 Advances

Bagian lancar biaya Current portion of

dibayar di muka 2.973.602.990 2f,10 2.296.604.687 prepaid expenses

Pajak dibayar di muka 64.734.375.040 20 64.909.829.380 Prepaid taxes

TOTAL ASET LANCAR 1.235.679.275.585 1.488.076.335.483 TOTAL CURRENT ASSETS

ASET TIDAK LANCAR NON-CURRENT ASSETS

Uang muka pembelian tanah 99.404.613.544 9 81.843.960.000 Advances for purchase of land

Tanah untuk pengembangan 71.663.996.383 2j,14 71.663.996.383 Land for development

2i,3,11,

Aset tetap - neto 175.088.856.405 27,29 168.196.179.567 Fixed assets - net

2h,3,12,

Properti investasi - neto 2.330.842.642.979 15,27 1.960.938.287.547 Investment properties - net

Aset takberwujud - neto 19.936.836.520 2k,13 6.794.184.217 Intangible assets - net

Biaya dibayar di muka - setelah Prepaid expenses - net

dikurangi bagian lancar - 2f,10 1.598.034.000 of current portion

Aset pajak tangguhan 5.281.619 2o,3 5.281.619 Deferred tax asset

Aset keuangan tidak lancar lainnya 10.347.747.692 7 12.867.004.497 Other non-current financial assets

TOTAL ASET TOTAL NON-CURRENT

TIDAK LANCAR 2.707.289.975.142 2.303.906.927.830 ASSETS

TOTAL ASET 3.942.969.250.727 3.791.983.263.313 TOTAL ASSETS

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LIABILITAS JANGKA PENDEK CURRENT LIABILITIES Utang usaha - pihak ketiga 50.930.796.769 2s,17 12.767.452.816 Trade payable - third parties

Utang lain-lain 2s Other payables

Pihak ketiga 2.771.021.320 18 2.809.487.129 Third parties

Pihak berelasi 1.714.748.557 2e 1.627.500.000 Related party

Utang pajak 11.889.865.169 2o,20 10.672.639.913 Taxes payable

Beban akrual 39.558.476.867 2n,19 43.204.779.357 Accrued expenses

Liabilitas imbalan Short-term employee

kerja jangka pendek 4.673.542.133 2s,22 8.801.790.452 benefits liabilities

Uang muka penjualan dan Sales advance and

pendapatan diterima di muka 66.885.326.077 2g,21 62.395.531.441 unearned revenues

Utang jangka panjang yang jatuh

tempo dalam waktu satu tahun: 2s Current portion of long-term debt:

Utang bank jangka panjang 75.644.659.172 15 35.085.871.642 Long-term bank loans

Utang sewa pembiayaan 174.509.956 16 131.706.051 Finance lease payable

Utang pembiayaan konsumen - 88.570.686 Consumer lease payable

TOTAL LIABILITAS TOTAL CURRENT

JANGKA PENDEK 254.242.946.020 177.585.329.487 LIABILITIES

LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES

Utang jangka panjang - setelah

dikurangi bagian yang jatuh Longterm debt

-tempo dalam waktu satu tahun: 2s net of current portion:

Utang bank jangka panjang 610.932.583.892 15 508.905.541.526 Long-term bank loans

Utang sewa pembiayaan 105.335.020 16 107.203.336 Finance lease payable

Utang pembiayaan konsumen - 29.086.475 Consumer lease payable

Uang muka penjualan dan Sales advance and

pendapatan diterima di muka 64.024.673.369 2g,21 83.687.723.331 unearned revenues

Uang jaminan sewa 50.930.884.946 41.905.186.799 Security deposits

Liabilitas imbalan kerja Long-term employee

jangka panjang 8.330.752.761 2m,3,22 6.081.126.109 benefits liabilities

TOTAL LIABILITAS TOTAL NON-CURRENT

JANGKA PANJANG 734.324.229.988 640.715.867.576 LIABILITIES

TOTAL LIABILITAS 988.567.176.008 818.301.197.063 TOTAL LIABILITIES

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EKUITAS YANG DAPAT EQUITY ATTRIBUTABLE TO

DIATRIBUSIKAN KEPADA OWNERS OF THE

PEMILIK ENTITAS INDUK PARENT COMPANY

Modal saham - nilai nominal Share capital - par value

Rp100 per saham Rp100 per share

Modal dasar -

88.000.000.000 saham pada Authorized -

tanggal 30 Juni 2017 88,000,000,000 shares

dan 31 Desember 2016. as of June 30, 2017

and as of December 31, 2016.

Modal ditempatkan dan

disetor penuh - Issued and fully paid -

22.198.871.804 saham 2.219.887.180.400 24 2.219.887.180.400 22,198,871,804 shares

Tambahan modal disetor - neto 51.716.658.881 2p,25 51.716.658.881 Additional paid-in capital - net

Difference in value from

Selisih transaksi dengan pihak transactions with

nonpengendali (13.213.848.028) (13.213.848.028 ) non-controlling interests

Saldo laba (defisit) Retained earnings (deficits)

Telah ditentukan

penggunaannya 1.000.000.000 1.000.000.000 Appropriated

Belum ditentukan

penggunaannya (161.109.599.063) (144.983.342.749 ) Unappropriated

Penghasilan komprehensif lain 1.158.399.693 1.158.399.693 Other comprehensive income

TOTAL 2.099.438.791.883 2.115.565.048.197 TOTAL

KEPENTINGAN NON-CONTROLLING

NONPENGENDALI 854.963.282.836 23 858.117.018.053 INTERESTS

TOTAL EKUITAS 2.954.402.074.719 2.973.682.066.250 TOTAL EQUITY

TOTAL LIABILITAS TOTAL LIABILITIES

DAN EKUITAS 3.942.969.250.727 3.791.983.263.313 AND EQUITY

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PENJUALAN DAN SALES AND

PENDAPATAN JASA 183.501.921.761 2q,26 120.021.350.773 SERVICE REVENUES

BEBAN POKOK PENJUALAN COST OF SALES AND

DAN PENDAPATAN JASA 116.794.008.756 2q,27 81.365.996.198 SERVICE REVENUES

LABA BRUTO 66.707.913.005 38.655.354.575 GROSS PROFIT

Beban pemasaran 2.136.743.311 2q,28 5.695.752.857 Marketing expenses

General and

Beban umum dan administrasi 55.818.703.900 2q,29 55.292.008.675 administrative expenses Beban operasi lainnya - neto 3.036.651.462 2q 168.316.255 Other operating expenses - net

PROFIT (LOSS)

LABA (RUGI) USAHA 5.715.814.332 (22.500.723.212) FROM OPERATIONS

Pendapatan (beban) keuangan (10.653.297.246) 2q,30,31 16.667.385.780 Finance income (expenses)

LABA TAHUN BERJALAN PROFIT FOR THE YEAR BEFORE

SEBELUM PAJAK FINAL DAN FINAL TAX EXPENSES

PAJAK PENGHASILAN (4.937.482.914) (5.833.337.432) AND INCOME TAX EXPENSES

Beban pajak final 14.342.508.617 2o,3,20 14.742.401.057 Final tax expense

RUGI TAHUN BERJALAN LOSS FOR THE YEAR

SEBELUM PAJAK BEFORE INCOME

PENGHASILAN (19.279.991.531) (20.575.738.489) TAX EXPENSE

Beban pajak penghasilan – neto - - Income tax expenses - net

RUGI TAHUN BERJALAN (19.279.991.531) (20.575.738.489) LOSS FOR THE YEAR

PENGHASILAN OTHER COMPREHENSIVE

KOMPREHENSIF LAIN INCOME

Pos yang akan direklasifikasi Item that will be reclassified

ke laba rugi: to profit or loss:

Perubahan nilai wajar investasi Changes in unrealized fair value of

tersedia dijual - 23.613.120 available for sale investment

GHASILAN OTHER COMPREHENSIVE

KOMPREHENSIF LAIN INCOME

Pos yang akan direklasifikasi Item that will be reclassified

ke laba rugi: to profit or loss:

Perubahan atas nilai wajar aset Changes in fair value of

keuangan tersedia untuk available-for-sale

dijual 5 39.583.537 financial assets

Penyesuaian reklasifikasi atas Reclassification adjustment

keuntungan investasi yang for gain on investment

termasuk dalam laba rugi - included in profit or loss

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PENGHASILAN OTHER COMPREHENSIVE

KOMPREHENSIF LAIN (lanjutan) INCOME (continued)

Pos yang tidak akan Item that will not be

direklasifikasi ke laba rugi: reclassified to profit or loss:

Perubahan nilai wajar investasi Changes in unrealized fair value of

tersedia dijual available for sale investment

Pengukuran kembali atas

program imbalan Remeasurements of

pasti - - defined benefit plans

Pajak penghasilan terkait pos Income tax relating to item

yang tidak akan that will not be reclassified

direklasifikasi ke laba rugi - - to profit or loss

PENGHASILAN KOMPREHENSIF OTHER COMPREHENSIVE

LAIN TAHUN BERJALAN, INCOME FOR THE YEAR,

NETO SETELAH PAJAK (19.279.991.531) (20.552.125.369) NET OF TAX

TOTAL RUGI

KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE

BERJALAN (19.279.991.531) (20.552.125.369) LOSS FOR THE YEAR

Rugi tahun berjalan yang dapat

diatribusikan kepada: Loss for the year attributable to:

Pemilik entitas induk (16.126.256.314) (20.420.753.261) Owners of the parent company

Kepentingan nonpengendali (3.153.735.217) (154.985.228) Non-controlling interests

TOTAL (19.279.991.531) (20.575.738.489) TOTAL

Total rugi komprehensif

tahun berjalan Total comprehensive loss

yang dapat diatribusikan kepada: for the year attributable to:

Pemilik entitas induk (16.126.256.314) (20.397.140.434) Owners of the parent company

Kepentingan nonpengendali (3.153.735.217) (154.984.935) Non-controlling interests

TOTAL (19.279.991.531) (20.552.125.369) TOTAL

Rugi per saham yang dapat Loss per share

diatribusikan kepada Pemilik attributable to Owners of

Entitas Induk (0,73) 2r,32 (1,02) the Parent Company

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Transaksi dengan Aset Keuangan

Pihak Tersedia untuk Pengukuran

Modal Nonpengendali/ Dijual - Neto/ Kembali

Ditempatkan dan Tambahan Modal Difference Defisit/Deficits Changes in atas Program

Disetor Penuh/ Disetor - Neto/ in Value from _{Fair Value of}_{Imbalan Pasti/} _Kepentingan

Issued Additional Transactions with Telah Ditentukan Belum Ditentukan Available-for-sale Remeasurements Nonpengendali/

Catatan/ and Fully Paid Paid-in Non-controlling Penggunaannya/ Penggunaannya/ Financial of Defined Total/ Non-controlling Total Ekuitas/

Notes Share capital Capital - Net Interests Appropriated Unappropriated Assets - Net Benefit Plans Total Interests Total Equity

Saldo, 1 Januari 2016 2.219.887.180.400 51.195.761.832 197.369.883.020 1.000.000.000 (93.686.037.910) 745.677.989 - 2.376.512.465.331 381.964.392.821 2.758.476.858.152 Balance, January 1, 2016

Difference in value from

Selisih nilai transaksi restrukturisasi restructuring transactions

entitas sepengendali 19 - - 18.879.091.000 - - - - 18.879.091.000 - 18.879.091.000 entities under common control

Pelepasan entitas anak - - - 240.090.909.000 240.090.909.000 Disposal of subsidiaries

Total rugi komprehensif tahun berjalan - - - - (20.420.753.261) 23.612.827 - (20.397.140.434) (154.984.935) (20.552.125.369) Total comprehensive loss for the year

Saldo, 30 Juni 2016 2.219.887.180.400 51.195.761.832 216.248.974.020 1.000.000.000 (114.106.791.171) 769.290.816 - 2.374.994.415.897 621.900.316.986 2.996.894.732.783 Balance, June 30, 2016

Saldo, 1 Januari 2017 2.219.887.180.400 51.716.658.881 (13.213.848.028) 1.000.000.000 (144.983.342.749) - 1.158.399.693 2.115.565.048.197 858.117.018.053 2.973.682.066.250 Balance, January 1, 2017

Total rugi komprehensif tahun berjalan - - - - (16.126.256.314) - - (16.126.256.314) (3.153.735.217) (19.279.991.531) Total comprehensive loss for the year

Saldo, 30 Juni 2017 2.219.887.180.400 51.716.658.881 (13.213.848.028) 1.000.000.000 (161.109.599.063) - 1.158.399.693 2.099.438.791.883 854.963.282.836 2.954.402.074.719 Balance, June 30, 2017

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ARUS KAS DARI AKTIVITAS CASH FLOWS FROM

OPERASI OPERATING ACTIVITIES

Penerimaan kas dari pelanggan 148.985.754.271 182.584.896.247 Cash receipts from customers

Pembayaran kas untuk: Cash payments for:

Pemasok (61.952.231.172) (72.212.269.968) Suppliers

Salaries and

Gaji dan tunjangan karyawan (41.300.620.346) (37.915.876.333) employee benefits

Beban usaha lainnya (59.200.315.215) (34.497.398.783) Other operating expenses

Kas yang dihasilkan dari Cash generated from (used for)

(digunakan untuk) operasi (13.467.412.462) 37.959.351.163 operations

Penerimaan dari Cash receipts from

(pembayaran untuk): (payments for):

Pendapatan keuangan 22.842.032.608 26.262.781.519 Finance income

Biaya keuangan (31.602.143.456) (12.044.703.034) Finance costs

Pajak penghasilan (13.932.047.096) (11.413.295.184) Income taxes

Kas Neto yang Diperoleh dari Net Cash Provided by

(Digunakan Untuk) (Used for)

Aktivitas Operasi (36.159.570.406) 40.767.134.464 Operating Activities

INVESTASI INVESTING ACTIVITIES

Akuisisi unit bisnis, setelah Acquisition of business unit,

dikurangi kas yang diperoleh (157.548.281.172) 1d - net of cash acquired

Acquisition of

Perolehan properti investasi (210.368.664.472) (186.715.085.960) investment properties

Perolehan aset tetap (6.892.676.838) (1.949.132.739) Acquisitions of fixed assets

Penambahan uang Increase in advance

muka pembelian tanah (11.932.500.000) (20.000.000.000) purchase of land

Pendirian entitas anak - (1.200.000.000) Establishment of subsidiary

Kas Neto yang Diperoleh Net Cash Provided

dari (Digunakan untuk) by (Used for)

Aktivitas Investasi (386.742.122.482) (209.864.218.699) Investing Activities

PENDANAAN FINANCING ACTIVITIES

Penerimaan utang bank 162.378.896.564 200.000.000.000 Addition of bank loans

Penerbitan saham entitas anak - 258.970.000.000 Issuance of shares of subsidiaries

Pelunasan utang bank (19.793.066.669) (148.468.360.404) Payment of bank loans

Kas Neto yang Diperoleh dari Net Cash Provided

(Digunakan untuk) by (Used for)

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KENAIKAN/(PENURUNAN) NET INCREASE/(DECREASE)

NETO KAS DAN SETARA KAS (280.315.862.993) 141.401.555.361 IN CASH AND CASH EQUIVALENTS

CASH AND CASH

KAS DAN SETARA KAS EQUIVALENTS AT

AWAL TAHUN 956.494.000.444 4 655.705.859.259 BEGINNING OF YEAR

CASH AND CASH

KAS DAN SETARA KAS EQUIVALENTS AT

AKHIR TAHUN 676.178.137.451 4 797.107.414.620 END OF YEAR

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PT Nirvana Development Tbk (“Perusahaan”) didirikan berdasarkan Akta Notaris P. Sutrisno A. Tampubolon, S.H., M.Kn., No. 43 tanggal 18 Desember 2003. Akta pendirian ini telah disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. C-10765.HT.01.01.TH 2004 tanggal 30 April 2004 dan diumumkan dalam Berita Negara Republik Indonesia No. 9848 tanggal 1 Oktober 2004, Tambahan No. 79. Anggaran Dasar Perusahaan telah mengalami beberapa kali perubahan, terakhir dengan Akta Notaris Hasbullah Abdul Rasyid, S.H., MKn., No. 242 tanggal 30 Juni 2016, mengenai perubahan susunan Dewan Komisaris dan Direksi Perusahaan dan peningkatan modal dasar Perusahaan. Perubahan ini telah diterima oleh Kementerian Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat No. AHU-AH.01.03.0067226 tanggal 28 Juli 2016.

PT Nirvana Development Tbk (the “Company”) was established based on Notarial Deed No. 43 dated December 18, 2003 of P. Sutrisno A. Tampubolon, S.H., M.Kn. The deed of establishment has been approved by the Ministry of Laws and Human Rights of the Republic of Indonesia in its Decision Letter No. C-10765.HT.01.01.TH 2004 dated April 30, 2004 and was published in the State Gazette of the Republic of Indonesia No. 9848 dated October 1, 2004, Supplement No. 79. The Company’s Articles of Association has been amended several times, the latest amendment was covered by the Notarial Deed No. 242 of Hasbullah Abdul Rasyid, S.H., MKn., dated June 30, 2016, concerning the changes of the members of Board of Commissioners and Directors of the Company and increase the authorized capital of the Company. The latest amendment has been acknowledge by the Ministry of Law and Human Rights of the Republic of Indonesia in its Letter No. AHU-AH.01.03.0067226 dated July 28, 2016. Berdasarkan Pasal 3 anggaran dasar Perusahaan,

ruang lingkup kegiatan Perusahaan bergerak dalam bidang pembangunan, jasa, perdagangan, perindustrian dan investasi. Kegiatan usaha Perusahaan dalam bidang pembangunan, perdagangan dan properti investasi melalui entitas anak.

As stated in Article 3 of the Company’s articles of association, the scope of its activities comprises construction, service, trading, industry and investment. The Company engages in the building construction, trading and investment properties through its subsidiaries.

Perusahaan berdomisili di Office 8, lantai 33, SCBD Lot. 28, Jalan Jend. Sudirman Kav. 52-53, Jakarta Selatan, dan entitas-entitas anak berdomisili di beberapa lokasi antara lain, Jakarta, Cirebon, Sukoharjo, Pangkalan Bun, Ketapang dan Sampit. Perusahaan mulai beroperasi komersial pada tahun 2009.

The Company is domiciled in Office 8, 33rd_floor,

SCBD Lot. 28, Jalan Jend. Sudirman Kav. 52-53, Jakarta Selatan and its subsidiaries are domiciled in several location, among others, Jakarta, Cirebon, Sukoharjo, Pangkalan Bun, Ketapang and Sampit. The Company has started operating commercially in 2009.

b. Penyelesaian Laporan Keuangan Konsolidasian b. Completion of the Consolidated Financial

Statements Manajemen bertanggung jawab atas penyusunan dan

penyajian laporan keuangan konsolidasian, yang telah diselesaikan dan disetujui untuk diterbitkan oleh Direksi Perusahaan pada tanggal 31 Juli 2017.

The management is responsible for the preparation and presentation of the consolidated financial statements which were completed and authorized for issuance by the Company’s Directors on July 31, 2017.

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memperoleh pernyataan efektif dari Ketua Badan Pengawas Pasar Modal dan Lembaga Keuangan

(BAPEPAM-LK) dengan suratnya

No. S-10537/BL/2012 untuk melakukan penawaran umum perdana 6.000.000.000 saham Perusahaan dengan nilai nominal Rp100 per saham kepada masyarakat dengan harga penawaran sebesar Rp105 per saham dan disertai dengan 4.200.000.000 Waran I yang melekat pada saham yang dikeluarkan dan diberikan secara cuma-cuma sebagai insentif bagi pemegang saham dengan harga pelaksanaan waran Rp110 yang mulai berlaku mulai tanggal 13 Maret 2013 sampai dengan 11 September 2015. Pada tanggal 13 September 2012, saham tersebut telah dicatatkan pada Bursa Efek Indonesia.

effective statement from the Chairman of the Capital Market and Financial Institution Supervisory Agency in its letter No. S-10537/BL/2012 for the initial public offering of 6,000,000,000 shares of the Company with par value of Rp100 per share to public with offering price at Rp105 per share and simultaneously issuing 4,200,000,000 Warrants I accompanying the new shares issued, which are to be granted free as an incentive for the shareholders at an exercise price of Rp110 which is effective starting on March 13, 2013 up to September 11, 2015. These shares were listed on the Indonesia Stock Exchange on September 13, 2012.

d. Struktur Grup d. The Group’s Structure

Laporan keuangan konsolidasian mencakup akun-akun entitas anak, dimana Perusahaan mempunyai pengendalian , baik langsung maupun tidak langsung, sebagai berikut:

The consolidated financial statements include the account of subsidiaries, which the Company has control either directly or indirectly as follows:

Persentase kepemilikan Mulai

(langsung dan tidak langsung)/ kegiatan

Percentage of ownership usaha/

Entitas Anak/ (direct and indirect) Bidang usaha/ Kedudukan/ Start of

Subsidiaries 2017 2016 Scope of activities Domicile operations

Kepemilikan saham secara langsung/

Direct ownership: Belum beroperasi/ Non-operating

PT Nirvana Wastu Pratama 65,00% 65,00% Perdagangan, pembangunan,

perindustrian dan jasa/

Trading, construction, industry and service

Jakarta -

PT Nirvana Property 99,99% 99,99% Pertambangan, perdagangan,

perindustrian dan jasa/

Mining, trading, industry and service

Jakarta -

PT Nirvana Infrastructure 99,99% 99,99% Perdagangan, pengangkutan,

pembangunan, perindustrian, jasa, pertambangan, percetakan, perbengkelan,

pertanian dan kehutanan/

Trading, transportation, construction, industry, service, mining, printing, workshop, agriculture and forestry

Jakarta -

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Laporan keuangan konsolidasian mencakup akun-akun entitas anak, dimana Perusahaan mempunyai pengendalian , baik langsung maupun tidak langsung, sebagai berikut: (lanjutan)

The consolidated financial statements include the account of subsidiaries, which the Company has control either directly or indirectly as follows: (continued)

Entitas anak/ (direct and indirect) Bidang usaha/ Kedudukan/ Start of

Kepemilikan saham secara tidak langsung/

Indirect ownership: Belum beroperasi/ Non-operating

PT Genta Nirvana Mahaputra (melalui / through PT Nirvana Property)

99,00% 99,00% Pembangunan, jasa, perdagangan dan

industri/

Construction, service, trading and industry

Jakarta -

PT Mutiara Mitra Bersama (melalui / through PT Nirvana Property)

100,00% 100,00% Perdagangan, pengangkutan,

pembangunan, perindustrian, jasa, percetakan, perbengkelan, pertanian dan

kehutanan/

Trading, transportation, construction, industry, service, printing, workshop,

agriculture and forestry

Jakarta -

PT Tirta Anugrah Buana (melalui / through PT Mutiara Mitra Bersama)

kehutanan/

Jakarta -

PT Kalingga Murda Pratama (melalui / through PT Nirvana Wastu Pratama)

kehutanan/

Jakarta -

PT Kalingga Murda Raja (melalui / through PT Nirvana Wastu Pratama)

kehutanan/

Jakarta -

PT Nirvana Wastu Amerta (melalui / through PT Nirvana Wastu Pratama)

kehutanan/

Jakarta -

PT Nirvana Wastu Kencana (melalui / through PT Nirvana Wastu Pratama)

100,00% 100,00% Perdagangan, pembangunan,

perindustrian dan jasa/

Trading, construction, industry and service

Jakarta -

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akun entitas anak, dimana Perusahaan mempunyai pengendalian , baik langsung maupun tidak langsung, sebagai berikut: (lanjutan)

account of subsidiaries, which the Company has control either directly or indirectly as follows: (continued)

Kepemilikan saham secara tidak langsung (lanjutan)/ Indirect ownership (continued):

Belum beroperasi (lanjutan)/ Non-operating (continued) PT Nirvana Wastu Jaya (melalui / through PT Nirvana Wastu Pratama)

kehutanan/

Jakarta -

PT Nirvana Wastu Jaya Pratama

(melalui / through PT Nirvana Wastu Pratama)

kehutanan/

Jakarta -

PT Nirvana Wastu Karya Pratama

kehutanan/

Jakarta -

PT Nirvana Wastu Karya Utama

kehutanan/

Jakarta -

PT Nirvana Wastu Kusuma (melalui / through PT Nirvana Wastu Pratama)

kehutanan/

Jakarta -

(16)

Kepemilikan saham secara tidak langsung (lanjutan)/ Indirect ownership: (continued)

Belum beroperasi (lanjutan)/ Non-operating (continued) PT Nirvana Wastu Mahardika (melalui / through PT Nirvana Wastu Pratama)

kehutanan/

Jakarta -

PT Nirvana Wastu Usaha Karya (melalui / through PT Nirvana Wastu Pratama)

kehutanan/

Jakarta -

Beroperasi / Operating PT Tristar Land

(melalui / through PT Nirvana Property

99,69% 99,69% Pembangunan, jasa, perindustrian dan

perdagangan/

Construction, service, industry and trading

Sukoharjo 2014

PT Narendra Amerta (melalui / through PT Nirvana Infrastructure)

kehutanan/

Sukoharjo 2013

PT Buana Citra Khatulistiwa (melalui / through PT Mutiara Mitra Bersama)

pembangunan, perindustrian, jasa, percetakan dan agrobisnis /

Trading, transportation, construction, industry, service, printing and

agribusiness

(17)

Beroperasi (lanjutan)/ Operating (continued) PT Melia Arjuna Bejana (melalui / through PT Nirvana Wastu Pratama)

kehutanan/

Jakarta 2016

PT Aneka Jayausaha Maju Terus

100,00% 100,00% Perdagangan, jasa, perindustrian,

percetakan, perbengkelan, kehutanan, perkebunan, pertanian, perikanan, pembangunan, perumahan, pengangkutan

darat, bahan kimia, restoran, pergudangan, pasar swalayan, garment

dan mebel/

Trading, service, industry, printing, workshop, forestry, plantations, agriculture, fishery, construction, real estate, land transportation, chemical, restaurant, warehousing, supermarkets,

garment and furniture

Jakarta 2011

PT Karya Bersama Takarob (melalui / through PT Nirvana Wastu Pratama)

100,00% 100,00% Jasa, pembangunan, pengangkutan darat,

perbengkelan, percetakan, perdagangan, perindustrian, pertambangan dan

pertanian/

Service, construction, land transportation, workshop, printing, trading, industry,

mining and agriculture

Cirebon 2008

PT Tunas Mitra Usaha (melalui / through PT Nirvana Wastu Pratama)

kehutanan/

Cirebon 2012

PT Buana Baru Prima (melalui / through PT Nirvana Wastu Pratama)

pembangunan, perindustrian, jasa, percetakan dan pertanian/

Trading, transportation, construction,

Pangkalan

(18)

Beroperasi (lanjutan)/ Operating (continued) PT Nirvana Wastu Pradana (melalui / through PT Nirvana Wastu Pratama)

kehutanan/

Jakarta 2016

PT Prabangkara Sangkara (melalui / through PT Nirvana Wastu Pratama)

100,00% 100,00% Pembangunan, perdagangan,

perindustrian, pengangkutan darat, pertanian, percetakan dan jasa/

Construction, trading, industry, land transportation, agriculture, printing and

service

Jakarta 2016

PT Kalingga Murda (melalui / through PT Nirvana Wastu Pratama)

service

Jakarta 2016

Tahap pengembangan/ Development stage PT Gardapati Sahardaya (melalui / through PT Nirvana Wastu Pratama)

service

Jakarta -

PT Anggaraksa Lokeswara (melalui / through PT Nirvana Wastu Pratama)

service

Jakarta -

(19)

Total aset / Total asset

Entitas anak/Subsidiaries 2017 2016

Belum beroperasi / Non-operating

PT Nirvana Wastu Pratama 3.165.338.678.726 3.007.024.771.764

PT Nirvana Property 965.047.020.875 1.089.347.604.004

PT Nirvana Infrastructure 19.062.900.473 18.621.616.035

PT Mutiara Mitra Bersama

(melalui / through PT Nirvana Property) 183.780.924.624 136.446.024.790

PT Genta Nirvana Mahaputra

(melalui / through PT Nirvana Property) 60.102.053.270 60.119.867.270

PT Tirta Anugrah Buana

(melalui / through PT Mutiara Mitra Bersama) 53.798.061.751 53.789.266.169

PT Nirvana Wastu Kencana

(melalui / through PT Nirvana Wastu Pratama) 2.438.691.828 2.439.113.513

PT Kalingga Murda Pratama

(melalui / through PT Nirvana Wastu Pratama) 96.558.354 101.976.614

PT Kalingga Murda Raja

PT Nirvana Wastu Amerta

(melalui / through PT Nirvana Wastu Pratama) 108.506.090.865 100.000.000

PT Nirvana Wastu Jaya

PT Nirvana Wastu Jaya Pratama

PT Nirvana Wastu Karya Pratama

PT Nirvana Wastu Karya Utama

PT Nirvana Wastu Kusuma

PT Nirvana Wastu Mahardika

PT Nirvana Wastu Usaha Karya

Beroperasi / Operating

PT Tristar Land

(melalui / through PT Nirvana Property) 429.176.301.692 436.571.212.638

PT Narendra Amerta

(melalui / through PT Nirvana Infrastructure) 18.898.870.086 18.609.537.551

PT Buana Citra Khatulistiwa

(melalui / through PT Mutiara Mitra Bersama) 31.173.412.319 31.109.430.647

PT Melia Arjuna Bejana

PT Aneka Jayausaha Maju Terus

PT Karya Bersama Takarob

(melalui / through PT Nirvana Wastu Pratama) 562.300.565.136 558.518.972.588

PT Kalingga Murda

(20)

Total aset / Total asset

Entitas anak/Subsidiaries 2017 2016

Beroperasi (lanjutan)/ Operating (continued)

PT Prabangkara Sangkara

PT Buana Baru Prima

PT Nirvana Wastu Pradana

PT Tunas Mitra Usaha

Tahap pengembangan / Development stage

PT Gardapati Sahardaya

PT Anggaraksa Lokeswara

Kombinasi Bisnis Business Combination

PT Primerindo Kencana PT Primerindo Kencana

Akuisisi Bisnis Pusat Perbelanjaan dan Hotel di

Gorontalo Business Acquisition of Shopping Mall and Hotel at Gorontalo

Pada tanggal 2 Mei 2017, PT Mega Investindo, PT Zanur Linas Investama, Jimmy Chandra, Ir. Djoni Arijanto Agung, Henry Maknawi, Jeanny Maknawi, Wilson Maknawi, PT Primerindo Kencana (“PK”), pihak ketiga, PT Nirvana Wastu Pratama (“NWP”) dan PT Nirvana Wastu Kencana (“NWK”), telah menandatangani Perjanjian Induk, dimana NWP dan NWK bermaksud untuk mengakuisisi bisnis pusat perbelanjaan dan hotel di kawasan bisnis Gorontalo (“Bisnis”). Bisnis yang dimaksud di atas terdiri dari bisnis pusat perbelanjaan dan hotel yang dijalankan oleh PK, dan tanah yang terletak pada kawasan sekitar pusat perbelanjaan dan hotel tersebut. Sebagai bagian dari akuisisi bisnis, dan berdasarkan Perjanjian Induk di atas, NWP juga setuju untuk mengambil alih utang pihak berelasi PK yang diperhitungkan sampai dengan tanggal

31 Mei 2017.

On May 2, 2017, PT Mega Investindo, PT Zanur Linas Investama, Jimmy Chandra, Ir. Djoni Arijanto Agung, Henry Maknawi, Jeanny Maknawi, Wilson Maknawi, PT Primerindo Kencana (“PK”), third parties, PT Nirvana Wastu Pratama (“NWP”) and PT Nirvana Wastu Kencana (“NWK”), has entered into a Master Agreement, whereby NWP and NWK intended to acquire shopping mall and hotel business located in Gorontalo’s business district (the “Business”). The Business mentioned above represents the shopping mall and hotel business operated by PK, and land located in the vicinity of the shopping mall and hotel. As part of the business acquisition, and based on the Master Agreement above, NWP also agreed to take over the related party loan of PK which will be calculated until May 31, 2017.

Berdasarkan Perjanjian Jual Beli Bersyarat (PPJB) tanggal 2 Mei 2017 yang diaktakan dengan Akta Notaris Hasbullah Abdul Rasyid SH., M.Kn., No. 11 pada tanggal yang sama, PK sebagai pembeli dan Henry Maknawi, Jeanny Maknawi, dan Wilson Maknawi (para Penjual) setuju untuk mengikatkan diri dalam transaksi jual beli atas tanah seluas 7.516 meter persegi yang terletak dalam kawasan bisnis Gorontalo sebagaimana yang dimaksud pada Perjanjian Induk di atas, dengan nilai transaksi yang disetujui sebesar Rp56.370.000.000. Pada tanggal 2 Mei 2017, PK dan para Penjual telah menandatangani Akta Jual Beli/PPJB Lunas atas transaksi di atas dimana PK telah melunasi transaksi pembelian

Based on the Conditional Sale and Purchase Agreement (PPJB) dated May 2, 2017, which was notarized by Notarial Deed No. 11 of Hasbullah Abdul Rasyid SH., M.Kn., on the same date, PK as the buyer, and Henry Maknawi, Jeanny Maknawi, and Wilson Maknawi (the Sellers) agreed to bind themselves into the sale and purchase transaction of 7,516 square meters land located in Gorontalo’s business district as mentioned in the Master Agreement above, with a transfer price of Rp56,370,000,000. On May 2, 2017, PK and the Sellers have signed the Sale and Purchase Deed/PPJB Lunas of the above transaction

(21)

PT Primerindo Kencana (lanjutan) PT Primerindo Kencana (continued) Akuisisi Bisnis Pusat Perbelanjaan dan Hotel di

Gorontalo (lanjutan) Business Acquisition of Shopping Mall and Hotel at Gorontalo (continued)

Berdasarkan Akta Notaris Hasbullah Abdul Rasyid SH., M.Kn., No. 8 tanggal 3 Juni 2017, para pemegang saham PK menyutujui penjualan seluruh saham PK yang berjumlah 30.000 saham kepada NWP dan NWK masing-masing sejumlah 29.700 saham (99%) dan 300 saham (1%), dengan harga pengalihan total sebesar Rp49.126.488.732 yang telah dilunasi pada tanggal yang sama.

Based on Notarial Deed No. 8 of Hasbullah Abdul Rasyid SH., M.Kn., dated June 3, 2017, the shareholders of PK approved the sale of all PK’s share totalling to 30,000 shares to NWP and NWP amounted to 29,700 (99%) and 300 (1%) shares, respectively, with total transfer price of Rp49.126.488.732, which have been fully paid at the same date.

Pada tanggal 5 Juni 2017, NWP telah melunasi utang pihak berelasi PK sebesar Rp52.411.792.440 dalam rangka pemenuhan kewajiban akuisisi Bisnis sebagaimana yang diharuskan dalam Perjanjian Induk di atas.

On June 5, 2017, NWP has fully paid the related party loan of PK which amounted to Rp52.411.792.440, in order to fulfil the obligation of the Business acquisition as required by the Master Agreement above.

Nilai wajar dari aset dan liabilitas dari Bisnis yang dapat diidentifikasi pada tanggal akuisisi adalah sebagai berikut:

The fair value of net identifiable assets and liabilities of the Business as of the acquisition date is as follows:

Nilai Wajar pada Tanggal Akuisisi/

Fair Value at Acquisition Date

Kas dan bank 7.302.089.260 Cash and bank

Piutang usaha - Pihak ketiga 10.424.519.031 Trade receivable - Third parties

Persediaan - Hotel 642.739.726 Inventories - Hotel

Beban dibayar di muka 1.130.418.658 Prepaid expenses

Properti investasi 308.066.000.000 Investment property

Total aset 327.565.766.675 Total assets

Utang usaha - Pihak ketiga 1.844.271.514 Trade payable - Third parties

Utang pajak 1.608.575.798 Tax payable

Beban masih harus dibayar 5.060.496.614 Accrued expenses

Uang muka pelanggan 9.161.271.979 Customer deposit

Uang jaminan sewa 5.312.053.162 Security deposit

Utang pihak berelasi 52.793.682.343 Intercompanies payable

Utang bank 106.958.949.829 Bank loans

Total liabilitas 182.739.301.239 Total liabilities

Aset neto pada tanggal akuisisi 144.826.465.436 Net assets at acquisition date

Aset neto yang diakuisisi 144.826.465.436 Net assets acquired

Goodwill yang dihasilkan Goodwill resulted

(22)

Pendirian, Peningkatan Modal Saham dan Restrukturisasi Entitas Anak

Establishment, Increasing of Share Capital and Restructuring of Subsidiaries

PT Nirvana Wastu Pratama PT Nirvana Wastu Pratama

Berdasarkan pernyataan keputusan Pemegang Saham PT Nirvana Wastu Pratama (“NWP”) yang telah diaktakan oleh Akta Notaris Audrey Tedja, S.H., M.Kn., No. 22 tanggal 18 Maret 2015, para pemegang saham NWP menyetujui peningkatan modal dari Rp10.000.000.000 menjadi Rp2.500.000.000.000 dan peningkatan modal ditempatkan dan disetor penuh dari Rp2.500.000.000 menjadi Rp729.710.293.000 dengan nilai nominal sebesar Rp1.000 per saham, melalui konversi utang milik Perusahaan menjadi penambahan modal disetor

(debt to equity swap) sebesar Rp727.210.293.000 atau 727.210.293 saham. Akta perubahan modal ini telah disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-0004436.AH.01.02. Tahun 2015 tanggal 20 Maret 2015.

Based on decision of Shareholders of PT Nirvana Wastu Pratama (“NWP”) which has been notarized by Notarial Deed of Audrey Tedja, S.H., M.Kn., No. 22 dated March 18, 2015, the shareholders of NWP approved an increase in share capital from Rp10,000,000,000 to Rp2,500,000,000,000 and an increase in issued and fully paid capital from Rp2,500,000,000 to Rp729,710,293,000 with a nominal value of Rp1,000 per share, through the conversion of the Company’s debt into additional paid-in capital (debt to equity swap) amounted to Rp727,210,293,000 or 727,210,293 shares. The deed of changes of capital has been approved by the Ministry of Laws and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU 0004436.AH.01.02. Year 2015 dated March 20, 2015.

Berdasarkan pernyataan keputusan Pemegang Saham NWP yang telah diaktakan oleh Akta Notaris Audrey Tedja, S.H., M.Kn., No. 6 tanggal 14 April 2015, para pemegang saham NWP menyetujui peningkatan modal dari Rp2.500.000.000.000 menjadi Rp4.000.000.000.000 dan peningkatan modal ditempatkan dan disetor penuh dari Rp729.710.293.000 menjadi Rp1.122.631.220.000. Peningkatan modal ditempatkan dan modal disetor sebanyak 392.920.927 saham, dengan nilai nominal sebesar Rp392.920.927.000, seluruhnya diambil bagian dan disetor tunai oleh Adventure Holding

Besloten Vennootschap (B.V). Selanjutnya, para pemegang saham NWP menyetujui pengalihan sebanyak 2.500 saham milik PT Nirvana Property kepada Perusahaan. Akta perubahan modal ini telah disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republlik Indonesia dalam Surat Keputusan No. AHU-0786533.AH.01.02. Tahun 2015 tanggal 14 April 2015.

Based on decision of Shareholders of NWP which has been notarized by Notarial Deed of Audrey Tedja, S.H., M.Kn., No. 6 dated April 14, 2015, the shareholders of NWP approved an increase in share capital from Rp2,500,000,000,000 to Rp4,000,000,000,000 and an increase in issued and fully paid capital from Rp729,710,293,000 to Rp1,122,631,220,000. The increase in issued and fully paid capital of 392,920,927 shares, with a nominal value amounted Rp392,920,927,000, is fully subscribed and paid in cash by Adventure Holding Besloten Vennootschap (B.V). Furthermore, the shareholders of NWP approved the transfer of 2,500 shares owned by PT Nirvana Property to the Company. The deed of the changes of capital has been approved by the Ministry of Laws and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-0786533.AH.01.02. Year 2015 dated April 14, 2015.

Berdasarkan Akta Notaris Audrey Tedja, S.H., M.Kn., No. 26 tanggal 23 Desember 2015, Notaris di Jakarta, para pemegang saham NWP menyetujui peningkatan modal ditempatkan dan disetor penuh menjadi sebesar Rp1.122.631.320.000. Peningkatan modal ditempatkan dan disetor tersebut diambil secara proporsional oleh para pemegang saham NWP.

Based on Notarial Deed of Audrey Tedja, S.H., M. Kn., No. 26 dated December 23, 2015, Notary in Jakarta, the shareholders of NWP approved to increase issued and fully paid share capital to Rp1,122,631,320,000. The increase in issued and fully paid share is proportionately subscribed by the shareholders of NWP.

(23)

Restrukturisasi Entitas Anak (lanjutan) Restructuring of Subsidiaries (continued) PT Nirvana Wastu Pratama (lanjutan) PT Nirvana Wastu Pratama (continued)

Berdasarkan Akta Notaris Audrey Tedja, S.H., M.Kn., No. 09 tanggal 22 Maret 2016, Notaris di Jakarta, para pemegang saham NWP menyetujui peningkatan modal ditempatkan dan disetor penuh dari Rp1.122.631.320.000 menjadi sebesar Rp1.808.605.246.000. NWP mengeluarkan sebanyak 1.808.605.246 saham dengan nilai nominal saham sebesar Rp1.000 per saham, sehingga seluruhnya menjadi sebesar Rp1.808.605.246.000 yang akan diambil bagian dan disetor tunai oleh Perusahaan sebanyak 1.175.593.410 lembar dan B.V sebanyak 633.011.836 lembar. Akta ini telah mendapatkan pengesahan dari Menteri Hukum dan Hak Asasi Manusia berdasarkan Surat Keputusan No. AHU-AH.01.3-0033935 tanggal 23 Maret 2016.

Based on Notarial Deed of Audrey Tedja, S.H., M.Kn., No. 09 dated March 22, 2016, Notary in Jakarta, the shareholders of NWP approved to increase issued and fully paid share capital from Rp1,122,631,320,000 to Rp1,808,605,246,000. NWP issued 1,808,605,246 shares with nominal value of Rp1,000 per share, totaling to Rp1,808,605,246,000 which will be subscribed and paid in cash by the Company 1,175,593,410 shares and B.V 633,011,836 shares. The deed has been approved by the Minister of Law and Human Rights under Decision Letter No. AHU-AH.01.3-0033935 dated March 23, 2016

Berdasarkan Akta Notaris Audrey Tedja, S.H., M.Kn., No. 01 tanggal 01 Juni 2016, Notaris di Jakarta, para pemegang saham NWP menyetujui peningkatan modal ditempatkan dan disetor penuh dari Rp1.808.605.246.000 menjadi sebesar Rp1.808.605.346.000. NWP mengeluarkan sebanyak 1.808.605.346 saham dengan nilai nominal saham sebesar Rp1.000 per saham, sehingga seluruhnya menjadi sebesar Rp1.808.605.346.000 yang akan diambil bagian dan disetor tunai oleh Perusahaan sebanyak 1.175.593.475 lembar dan B.V sebanyak 633.011.871 lembar.

Based on Notarial Deed of Audrey Tedja, S.H., M.Kn., No. 01 dated June 01, 2016, Notary in Jakarta, the shareholders of NWP approved to increase issued and fully paid share capital from Rp1,808,605,246,000 to Rp1,808,605,346,000. NWP issued 1,808,605,346 shares with nominal value of Rp1,000 per share, totaling to Rp1,808,605,346,000 which will be subscribed and paid in cash by the Company 1,175,593,475 shares and B.V 633,011,871 shares.

PT Karya Bersama Takarob PT Karya Bersama Takarob

Berdasarkan pernyataan keputusan Pemegang Saham PT Karya Bersama Takarob (“KBT”) yang telah diaktakan oleh Akta Notaris Audrey Tedja, S.H., M.Kn., No. 29 tanggal 18 Maret 2015, para pemegang saham KBT menyetujui peningkatan modal dari Rp200.000.000.000 menjadi Rp800.000.000.000 dan peningkatan modal ditempatkan dan disetor penuh dari Rp80.000.000.000 menjadi Rp277.467.000.000 dengan nilai nominal sebesar Rp1.000.000 per saham, melalui konversi utang milik NWP menjadi penambahan modal disetor (debt to equity swap) sebesar Rp197.467.000.000 atau 197.467 saham. Akta perubahan modal ini telah disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia

dalam Surat Keputusan

No. AHU-0004445.AH.01.02.2015 tanggal 20 Maret 2015.

Based on decision of Shareholders of PT Karya Bersama Takarob (“KBT”) which has been notarized by Notarial Deed of Audrey Tedja, S.H., M.Kn., No. 29 dated March 18, 2015, the shareholders of KBT approved an increase share capital from Rp200,000,000,000 to Rp800,000,000,000 and an increase in issued and fully paid capital from Rp80,000,000,000 to Rp277,467,000,000 with a nominal value of Rp1,000,000 per share, through the conversion of NWP’s debt into additional paid-in capital (debt to equity swap) amounted to Rp197,467,000,000 or 197,467 shares. The deed of changes of capital has been approved by the Ministry of Laws and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-0004445.AH.01.02.2015 dated March 20, 2015.

(24)

Pendirian, Peningkatan Modal Saham dan Restrukturisasi Entitas Anak (lanjutan)

Establishment, Increasing of Share Capital and Restructuring of Subsidiaries (continued)

PT Tunas Mitra Usaha PT Tunas Mitra Usaha

Berdasarkan pernyataan keputusan Pemegang Saham PT Tunas Mitra Usaha (“TMU”) yang telah diaktakan oleh Akta Notaris Audrey Tedja, S.H., M.Kn., No. 25 tanggal 18 Maret 2015, para pemegang saham TMU menyetujui peningkatan modal ditempatkan dan disetor penuh dari Rp6.277.500.000 menjadi Rp6.424.500.000 dengan nilai nominal sebesar Rp500.000 per saham, melalui konversi utang milik NWP menjadi penambahan modal disetor (debt to equity swap) sebesar Rp147.000.000 atau 294 saham. Perubahan modal ini telah diterima oleh Kementerian Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat No. AHU-0033184.AH.01.11.2015 tanggal 20 Maret 2015.

Based on decision of Shareholders of PT Tunas Mitra Usaha (“TMU”) which has been notarized by Notarial Deed of Audrey Tedja, S.H., M.Kn., No. 25 dated March 18, 2015, the shareholders of TMU approved an increase in issued and fully paid capital from Rp6,277,500,000 to Rp6,424,500,000 with a nominal value of Rp500,000 per share, through the conversion NWP’s debt into additional paid-in capital (debt to equity swap) amounted to Rp147,000,000 or 294 shares. The deed of changes of capital has been acknowledge by Ministry of Laws and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-0033184.AH.01.11.2015 dated March 20, 2015.

PT Grahita Dana PT Grahita Dana

Berdasarkan pernyataan keputusan Pemegang Saham PT Grahita Dana (“GD”) yang telah diaktakan oleh Akta Notaris Audrey Tedja, S.H., M.Kn., No. 24 tanggal 18 Maret 2015, para pemegang saham GD menyetujui peningkatan modal ditempatkan dan disetor penuh dari Rp84.038.002.000 menjadi Rp207.319.002.000 dengan nilai nominal sebesar Rp1.000 per saham, melalui konversi utang milik NWP (debt to equity swap) sebesar Rp123.281.000.000 atau 123.281.000 saham. Perubahan modal ini telah diterima Kementerian Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat No. AHU-AH.01.03.0017796 tanggal 20 Maret 2015.

Based on decision of Shareholders of PT Grahita Dana (“GD”) which has been notarized by Notarial Deed of Audrey Tedja, S.H., M.Kn., No. 24 dated March 18, 2015, the shareholders of GD approved an increase in issued and fully paid capital from Rp84,038,002,000 to Rp207,319,002,000 with a nominal value of Rp1,000 per share, through the conversion of NWP’s debt into additional paid-in capital (debt to equity swap) amounted to Rp123,281,000,000 or 123,281,000 shares. The changes of capital has been acknowledge by Ministry of Laws and Human Rights of the Republic of Indonesia in its Letter No. AHU-AH.01.03.0017796 dated March 20, 2015.

PT Buana Baru Prima PT Buana Baru Prima

Berdasarkan pernyataan keputusan Pemegang Saham PT Buana Baru Prima (“BBP”) yang telah diaktakan oleh Akta Notaris Audrey Tedja, S.H., M.Kn., No. 26 tanggal 18 Maret 2015, para pemegang saham BBP menyetujui peningkatan modal ditempatkan dan disetor penuh dari Rp54.613.121.500 menjadi Rp80.887.121.500 dengan nilai nominal sebesar Rp500 per saham, melalui konversi utang milik NWP menjadi penambahan modal disetor (debt to equity swap) sebesar Rp26.274.000.000 atau 52.548.000 saham. Akta perubahan modal ini telah diterima oleh Kementerian Hukum dan Hak Asasi Manusia

Republik Indonesia dalam Surat

No. AHU-AH.01.03.0017838 tanggal 20 Maret 2015.

Based on decision of Shareholders of PT Buana Baru Prima (“BBP”) which has been notarized by Notarial Deed of Audrey Tedja, S.H., M.Kn., No. 26 dated March 18, 2015, the shareholders of BBP approved an increase in issued and fully paid capital from Rp54,613,121,500 to Rp80,887,121,500 with a nominal value of Rp500 per share, through the conversion of NWP’s debt into additional paid-in capital (debt to equity swap) amounted to Rp26,274,000,000 or 52,548,000 shares. The deed of changes of capital has been acknowledge by Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-AH.01.03.0017838 dated March 20, 2015.