Tanggal 31 Desember 2016 dan 2015 December 31, 2016 and Januari 2015 January 1, 2015

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PT FIRST MEDIA Tbk

DAN ENTITAS ANAK

AND SUBSIDIARIES

Laporan Keuangan Konsolidasian

Consolidated Financial Statements

untuk Tahun-tahun yang Berakhir pada

for the Years Ended

Tanggal 31 Desember 2016 dan 2015

December 31, 2016 and 2015

serta Laporan Posisi Keuangan

and Consolidated Statement of

Konsolidasian pada Tanggal

Financial Position as of

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Surat Pernyataan Direksi Directors’ Statement

Laporan Auditor Independen Independent Auditors’ Report

Laporan Keuangan Konsolidasian Untuk Tahun-tahun yang Berakhir pada Tanggal 31 Desember 2016 dan 2015

Consolidated Financial Statements For the Years Ended

December 31, 2016 and 2015 Serta Laporan Posisi Keuangan

Konsolidasian Pada Tanggal 1 Januari 2015

and Consolidated Statement of Financial Position as of January 1, 2015

Laporan Posisi Keuangan Konsolidasian 1 Consolidated Statements of Financial Position

Laporan Laba Rugi dan Penghasilan

Komprehensif Lain Konsolidasian 4

Consolidated Statements of Profit or Loss and Other Comprehensive Income

Laporan Perubahan Ekuitas Konsolidasian 5 Consolidated Statements of Changes in Equity

Laporan Arus Kas Konsolidasian 6 Consolidated Statements of Cash Flows

Catatan Atas Laporan Keuangan Konsolidasian 7

Notes to the Consolidated Financial Statements

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Catatan terlampir merupakan bagian yang tidak terpisahkan dari The accompanying notes form an integral part of these

laporan keuangan konsolidasian secara keseluruhan consolidated financial statements

1

Catatan/ Dec 31, Dec 31, Jan 1,

ASET Notes 2016 2015 *) 2015 ASSETS

ASET LANCAR CURRENT ASSETS

Kas dan Setara Kas 3, 30, 31, 35 98,469 80,463 317,412 Cash and Cash Equivalents

Piutang Usaha - Neto 4, 15, 16, 30, 31, 32.b, 35 Trade Receivables - Net

Pihak Ketiga 90,987 89,339 92,071 Third Parties

Pihak Berelasi 2,926 12,169 18,975 Related Parties

Aset Keuangan Lancar Lainnya 5, 31, 35 182,528 264,974 220,464 Other Current Financial Assets

Persediaan 6 40,999 113,486 184,224 Inventories

Pajak Dibayar di Muka 18.a 404,190 344,207 276,413 Prepaid Taxes

Biaya Dibayar di Muka 7 151,214 301,571 369,638 Prepaid Expenses

Jumlah Aset Lancar 971,313 1,206,209 1,479,197 Total Current Assets

ASET TIDAK LANCAR NON-CURRENT ASSETS

Piutang Pihak Berelasi Non-Trade Receivables from

Non-Usaha 30, 31, 35 630,035 646,826 584,631 Related Parties

Aset Keuangan Tidak Other Non-Current

Lancar Lainnya 14, 35 192,008 172,315 152,510 Financial Assets

Investasi pada Entitas Asosiasi 8, 30 6,649,902 6,417,995 6,200,739 Investment in Associates

Aset Tetap 9, 16, 32 2,209,147 2,806,231 1,937,316 Property and Equipment

Aset Takberwujud 12 927,739 1,279,662 1,625,211 Intangible Assets

Biaya Perolehan Pelanggan 13 23,085 42,593 85,898 Customer Acquisition Costs

Biaya Dibayar di Muka

Jangka Panjang 10, 30, 32 85,266 136,465 195,723 Long-Term Prepayment

Uang Muka 11, 30, 31 64,106 144,603 197,945 Advances

Aset Pajak Tangguhan 18.e 752,855 827,656 469,512 Deferred Tax Assets

Aset Tidak Lancar Lainnya 18.f, 25, 31 8,646 31,433 23,264 Other Non-Current Assets

Aset Pengampunan Pajak 18.f 265,421 -- -- Tax Amnesty Assets

Jumlah Aset Tidak Lancar 11,808,210 12,505,779 11,472,749 Total Non-Current Assets

JUMLAH ASET 12,779,523 13,711,988 12,951,946 TOTAL ASSETS

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2

LIABILITAS DAN EKUITAS Notes 2016 2015 *) 2015 LIABILITIES AND EQUITY

LIABILITAS LIABILITIES

LIABILITAS JANGKA PENDEK CURRENT LIABILITIES

Utang Usaha 17, 30, 31, 35 Trade Payables

Pihak Ketiga 1,119,521 974,040 488,682 Third Parties

Pihak Berelasi 91,460 97,248 277,810 Related Parties

Beban Akrual 21, 30, 31, 35 439,731 470,584 273,743 Accrued Expenses

Utang Pajak 18.b, 35 14,530 11,419 8,735 Taxes Payable

Liabilitas Imbalan Kerja Short-Term Employee

Jangka Pendek 8,479 8,469 5,823 Benefit Liabilities

Bagian Lancar atas Liabilitas 9, 16, 20 Current Portion of Long-Term

Jangka Panjang: 31, 35 Debts:

Utang Bank Borrowing from Banks

dan Lembaga Keuangan 16, 35 1,652,528 690,309 290,619 and Other Financial Institutions

Utang Sewa Pembiayaan 20, 30 120,267 113,869 24,436 Finance Lease Payables

Liabilitas Keuangan Jangka Other Current

Pendek Lainnya 19, 30, 35 126,307 370,773 59,644 Financial Liabilities

Pinjaman Jangka Pendek 15, 35 493,375 327,205 7,543 Short-Term Loan

Liabilitas Jangka Pendek Lainnya 22, 30 44,690 57,839 31,869 Other Current Liabilities

Jumlah Liabilitas Jangka Pendek 4,110,888 3,121,755 1,468,904 Total Current Liabilities

LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES

Utang Bank dan Lembaga Long-Term Borrowing from Banks

Keuangan Jangka Panjang 16, 35 863,158 1,384,473 1,480,363 and Other Financial Institutions

Utang Sewa Pembiayaan 20, 30, 35 154,669 321,458 212,375 Finance Lease Payables

Liabilitas Keuangan Jangka Other Non-Current Financial

Panjang Lainnya 30, 35 6,376 8,434 26,291 Liabilities

Liabilitas Imbalan Kerja Jangka Long-Term Employee Benefit

Panjang 23 43,769 42,619 29,849 Liabilities

Liabilitas Pajak Tangguhan 18.e 236,238 368,778 368,778 Deferred Tax Liabilities

Liabilitas Pengampunan Pajak 18.f 125,383 -- -- Tax Amnesty Liabilities

Jumlah Liabilitas Jangka Panjang 1,429,593 2,125,762 2,117,656 Total Non-Current Liabilities

Jumlah Liabilitas 5,540,481 5,247,517 3,586,560 Total Liabilities

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3

Notes 2016 2015 *) 2015

EKUITAS EQUITY

Ekuitas yang Dapat Diatribusikan Equity Attributable to Equity

kepada Pemilik Entitas Induk Owners of Parent Entity

Modal Saham - Nilai Nominal Share Capital - Par Value of

Rp500 per Saham Rp500 per Share

Modal Dasar - 6.967.587.600 saham Authorized - 6,967,587,600 shares

Modal Ditempatkan dan Disetor Issued and Fully Paid

-Penuh - 1.742.167.907 saham 24 871,084 871,084 871,084 1,742,167,907 shares

Tambahan Modal Disetor - Neto 25 (7,095) (12,220) (12,220) Additional Paid-in Capital - Net

Komponen Ekuitas Lainnya 18.f 143,988 -- 235 Other Equity Components

Penghasilan Komprehensif Lain 171,282 113,938 -- Other Comprehensive Income

Saldo Laba 5,985,482 6,776,980 7,398,601 Retained Earnings

Jumlah Ekuitas yang Dapat Diatribusikan kepada Pemilik Total Equity Attributable to Owners of

Entitas Induk 7,164,741 7,749,782 8,257,700 Parent Entity

Kepentingan Non-Pengendali 74,301 714,689 1,107,686 Non-Controlling Interests

Jumlah Ekuitas 7,239,042 8,464,471 9,365,386 Total Equity

JUMLAH LIABILITAS DAN EKUITAS 12,779,523 13,711,988 12,951,946 TOTAL LIABILITIES AND EQUITY

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4

Catatan/

Notes 2016 2015 *)

Pendapatan 26, 30 1,308,250 1,062,980 Revenues

Beban Layanan 27 (1,438,665) (1,262,035) Cost of Services

RUGI BRUTO (130,415) (199,055) GROSS LOSS

Beban Penjualan 28 (203,058) (173,936) Selling Expenses

Beban Umum dan Administrasi 29, 30 (450,102) (500,873) General and Administrative Expenses

Beban Penyusutan dan Amortisasi 7, 9, 12, 13 (855,026) (908,292) Depreciation and Amortization Expenses Keuntungan (Kerugian) Selisih Kurs - Neto 22,266 (103,019) Gain (Loss) on Foreign Exchange - Net

Keuntungan atas Pelepasan Gain on Disposal of Property

Aset Tetap - Neto 54 3,051 and Equipment - Net

Beban Pajak 18 (18,141) (9,828) Tax Expenses

Lain-lain - Neto (54,258) 41,402 Others - Net

RUGI USAHA (1,688,680) (1,850,550) OPERATING LOSS

Beban Keuangan 31 (391,781) (328,892) Finance Costs

Penghasilan Keuangan 2,605 3,728 Finance Income

Bagian atas Laba Neto Entitas Asosiasi 8 275,128 217,256 Equity in Net Profit of Associates

Keuntungan dari Penjualan Gain from Sales of Shares

Saham Entitas Anak 1.c 131,025 15,233 of Subsidiaries

RUGI SEBELUM PAJAK (1,671,703) (1,943,225) LOSS BEFORE INCOME TAX

Manfaat Pajak Penghasilan 18.c 84,393 429,511 Income Tax Benefit

RUGI TAHUN BERJALAN (1,587,310) (1,513,714) LOSS FOR THE YEAR

PENGHASILAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME

Pos - Pos yang Tidak akan Direklasifikasi Items that will Not be Reclassified to

Ke Laba Rugi Profit or Loss

Pengukuran Kembali atas Program Remeasurement of Defined

Imbalan Pasti 3,789 5,651 Benefit Plans

Surplus Revaluasi Aset Tetap 9 -- 279,818 Surplus Revaluation of Property and Equipment

Pajak Penghasilan Terkait Pos yang Income Tax Related to Items that

Tidak akan Direklasifikasi ke Laba Rugi (947) (71,367) will Not be Reclassified to Profit or Loss

Pos - Pos yang akan Direklasifikasi Items that May be Reclassified

Ke Laba Rugi Subsequently to Profit or Loss

Kenaikan Nilai Wajar atas Aset Keuangan Increase in Fair Value on Financial Asset

Tersedia untuk Dijual 57,344 10,551 Available for Sale

Jumlah Penghasilan Komperehensif Lain 60,186 224,653 Total Other Comprehensive Income

JUMLAH RUGI KOMPREHENSIF TOTAL COMPREHENSIVE

TAHUN BERJALAN (1,527,124) (1,289,061) LOSS FOR THE YEAR

Rugi Tahun Berjalan yang Dapat Diatribusikan kepada: Loss For the Year Attributable to:

Pemilik Entitas Induk (794,678) (624,967) Equity Holders of the Parent Entity

Kepentingan Non-Pengendali (792,632) (888,747) Non-Controlling Interests

Jumlah (1,587,310) (1,513,714) Total

Rugi Komprehensif Tahun Berjalan yang Dapat Comprehensive Loss For the Year

Diatribusikan Kepada: Attributable To:

Pemilik Entitas Induk (734,154) (507,683) Equity Holders of the Parent Entity

Kepentingan Non-Pengendali (792,970) (781,378) Non-Controlling Interests

Jumlah (1,527,124) (1,289,061) Total

RUGI PER SAHAM DASAR BASIC LOSS PER SHARE

(Dalam Rupiah Penuh) 37 (456) (359) (in Full Rupiah)

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Catatan terlampir merupakan bagian yang tidak terpisahkan dari The accompanying notes form an integral part of these

laporan keuangan konsolidasian secara keseluruhan consolidated financial statements

March 22, 2017 Paraf :

- Neto/ Transaksi Modal Disetor Other Revaluasi Tersedia untuk Ditentukan Ditentukan Diatribusikan Interest Share Premium Restrukturisasi atas Equity Aset Tetap/ Dijual/ Penggunaannya/ Penggunaannya/ Kepada Pemilik

- Net Entitas Pengampunan Components Surplus Financial Aset Appropriated Unappropriated *) Entitas Induk/

Sepengendali/ Pajak/ Revaluation Available for Sale Total

Difference in Value Paid-in Capital of Property Equity

from Restructuring from and Attributable

Transactions of Tax Amnesty Equipment to Owners of

Entities Under Parent Entity

Common Control

BALANCE AS OF

SALDO PER 1 JANUARI 2015 871,084 (3,629) (8,591) -- 235 -- -- 100 7,398,501 8,257,465 1,107,686 9,365,151 JANUARY 1, 2015

Pelepasan Sebagian Saham Entitas Anak 1. c -- -- -- -- (235) -- -- -- -- -- -- -- Disposal of Certain Shares of Subsidiary

Perubahan Kepentingan Non-Pengendali -- -- -- -- -- -- -- -- -- -- 388,381 388,381 Changes in Non-Controlling Interest

Rugi Tahun Berjalan -- -- -- -- -- -- -- -- (624,967) (624,967) (888,747) (1,513,714) Loss for the Year

Penghasilan Komprehensif Lain -- -- -- -- -- 103,387 10,551 -- 3,346 117,284 107,369 224,653 Other Comprehensive Income

SALDO PER 31 DESEMBER 2015 BALANCE AS OF

871,084 (3,629) (8,591) -- -- 103,387 10,551 100 6,776,880 7,749,782 714,689 8,464,471 DECEMBER 31, 2015

Perubahan Kepent ingan Non-Pengendali -- -- -- -- -- -- -- -- -- -- 152,582 152,582 Changes in Non - Controlling Interest

Pengam punan Pajak 18.f -- -- -- 5,125 143,988 -- -- -- -- 149,113 -- 149,113 Tax Amnesty

Rugi Tahun Berjalan -- -- -- -- -- -- -- -- (794,678) (794,678) (792,632) (1,587,310) Loss for the Year

Penghasilan Kom prehensif Lain -- -- -- -- -- -- 57,344 -- 3,180 60,524 (338) 60,186 Other Comprehensive Income

SALDO PER 31 DESEMBER 2016 BALANCE AS OF

871,084 (3,629) (8,591) 5,125 143,988 103,387 67,895 100 5,985,382 7,164,741 74,301 7,239,042 DECEMBER 31, 2016

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2016 2015

ARUS KAS DARI AKTIVITAS OPERASI CASH FLOWS FROM OPERATING ACTIVITIES

Penerimaan Kas dari Pelanggan 1.304.409 1.071.975 Cash Received from Subscribers

Pembayaran Kas kepada Pemasok dan Pihak Ketiga Lainnya (416.764) (1.116.347) Payment to Suppliers and Other Third Parties

Pembayaran Untuk Beban Usaha (389.980) (216.763) Payment for Operating Expenses

Pembayaran kepada Karyawan (279.242) (252.089) Payment to Employees

Pembayaran Pajak (3.865) (7.481) Payment of Income Taxes

Pembayaran Bunga (379.533) (180.043) Interest Paid

Penerimaan Bunga 2.605 16.815 Interest Received

Arus Kas Neto Digunakan untuk Net Cash Flows Used in

Aktivitas Operasi (162.370) (683.933) Operating Activities

ARUS KAS DARI AKTIVITAS INVESTASI CASH FLOWS FROM INVESTING ACTIVITIES

Aset Tetap Property and Equipment

Penjualan 437 97.751 Sales

Pembelian (824.424) (739.103) Acquisition

Perolehan Entitas Anak (1.787) -- Acquisition of Subsidiary

Penambahan Investasi pada Entitas Asosiasi (4.000) -- Addition of Investment in Associate

Penerimaan Dividen 43.864 -- Dividend Receipts

Pembelian Aset Takberwujud (3.711) (2.832) Acquisition of Intangible Assets

Hasil Penjualan Saham Entitas Anak -- 15.371 Proceed from Sale of Share in Subsidiary

Arus Kas Neto Digunakan untuk Net Cash Flows Used in

Aktivitas Investasi (789.621) (628.813) Investing Activities

ARUS KAS DARI AKTIVITAS PENDANAAN CASH FLOWS FROM FINANCING ACTIVITIES

Pinjaman Bank dan Lembaga Bank Loans and Financial

Keuangan Institutions

Penerimaan Pinjaman Bank Jangka Pendek 349.170 319.662 Proceeds from Short-Term Bank Loans

Penerimaan Pinjaman Bank Jangka Panjang 1.003.588 845.149 Proceeds from Long-Term Bank Loans

Pembayaran Pinjaman Bank Jangka Pendek (183.000) -- Repayment of Short-Term Bank Loans

Pembayaran Pinjaman Bank Jangka Panjang (350.184) (541.349) Repayment of Long-Term Bank Loans

Penerimaan dari Penambahan Modal Disetor Proceeds from Additional Paid-in Capital

Entitas Anak 72.000 290.835 of Subsidiaries

Penerimaan Utang Sewa Pembiayaan Proceeds from Finance Lease

Jual dan Sewa Kembali 120.995 305.241 Sale and Lease Back Payables

Pembayaran Utang Sewa Pembiayaan (103.740) (174.542) Payment of Finance Lease Payables

Penerimaan Pinjaman dari Pihak Ketiga 98.000 -- Receipts loan from Third Parties

Penerimaan Anjak Piutang -- 100.000 Receipts of Factoring Payables

Pembayaran Anjak Piutang -- (60.578) Payment of Factoring Payables

Arus Kas Neto Diperoleh dari Net Cash Flows Provided by Financing

Aktivitas Pendanaan 1.006.829 1.084.418 Activities

KENAIKAN (PENURUNAN) NETO KAS DAN SETARA NET INCREASE (DECREASE) IN CASH AND

KAS 54.838 (228.328) CASH EQUIVALENTS

SALDO KAS DAN SETARA KAS PADA CASH AND CASH EQUIVALENTS AT

AWAL TAHUN 80.463 317.412 THE BEGINNING OF THE YEAR

PERUBAHAN SALDO KAS DAN SETARA CHANGES OF CASH AND CASH

KAS DARI: EQUIVALENT FROM:

- ENTITAS ANAK YANG TIDAK

DIKONSOLIDASI (37.500) (8.729) - NOT CONSOLIDATED SUBSIDIARY

- TAMBAHAN ENTITAS ANAK YANG - ADDITIONAL FROM

DIKONSOLIDASI 1.952 -- CONSOLIDATED SUBSIDIARY

Dampak Perubahan Selisih Kurs Effects of foreign exchange rate changes

Terhadap Kas dan Setara Kas (1.284) 108 on cash and cash equivalents

SALDO KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS AT

PADA AKHIR TAHUN 98.469 80.463 THE END OF THE YEAR

Informasi tambahan aktivitas yang tidak mempengaruhi arus kas disajikan di Catatan 38.

Additional information on activities not affecting cash flows is presented in Note 38.

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1. Umum 1. General 1.a. Pendirian Perusahaan 1.a. The Company’s Establishment

PT First Media Tbk (Perusahaan) didirikan pada tanggal 6 Januari 1994 berdasarkan Akta Notaris B.R.A.Y. Mahyastoeti Notonagoro, S.H., No. 37 dengan nama PT Safira Ananda. Akta pendirian ini telah disahkan oleh Menteri Kehakiman dalam surat keputusan No. C2-1.446.HT.01.01.Th.95 tanggal 1 Februari 1995 dan telah diumumkan dalam Berita Negara No. 81 Tambahan No. 6613 tanggal 8 Oktober 1999. Anggaran dasar Perusahaan telah mengalami beberapa perubahan, terakhir Perusahaan melakukan perubahan akta yang dibuat dihadapan Notaris Andalia Farida, S.H., M.Kn., No. 4, tanggal 15 April 2016 yang mana perubahan tersebut telah diberitahukan dan disimpan dalam sistem administrasi badan hukum sesuai dengan Surat Kementerian Hukum dan Hak Asasi Manusia No. AHU-AH.01.03-0045537 tanggal 3 Mei 2016.

PT First Media Tbk (the Company) was established on January 6, 1994, based on Notarial Deed No. 37 of B.R.A.Y. Mahyastoeti Notonagoro, S.H., under the name of PT Safira Ananda. The deed of establishment was approved by the Minister of Justice in his decree No. C2-1.446.HT.01.01.Th.95 dated February 1, 1995 and was published in the State Gazette No. 81 Supplement No. 6613 dated October 8, 1999. The Company’s articles of association has been amended several times, the latest by notarial deed No. 4 dated April 15, 2016 made before notary Andalia Farida, S.H., M.Kn., which has been notified and registered at legal entity administration system in accordance with letter issued by Ministry of Law and Human Right No. AHU-AH.01.03-004357 dated May 3, 2016.

Perusahaan melakukan inkubasi usaha-usaha baru yang berfokus pada bisnis teknologi, media, dan telekomunikasi. Portofolio Perusahaan saat ini terutama terkait dalam penyediaan jasa melalui jaringan komunikasi pita lebar (“jaringan”) (broadband communication network), yang saat ini pendapatan utamanya dihasilkan oleh Entitas Anak yaitu PT Internux.

The Company is involved in incubating new businesses focused on the areas of technology, media, and telecommunication. The Company’s portfolio at the moment primarily relates to provision of services through a broadband communication network (the “network”), with its main source of revenues currently being generated by PT Internux, a subsidiary.

Perusahaan berdomisili di Berita Satu Plaza Lantai 4, Jl. Jendral Gatot Subroto Kav 35-36 Jakarta. Perusahaan memulai kegiatan komersialnya pada tanggal 1 Maret 1999.

The Company is domiciled at Berita Satu Plaza 4th Floor, Jl. Jendral Gatot Subroto Kav 35-36 Jakarta. It started its commercial operations on March 1, 1999.

Berdasarkan Surat Keputusan Menteri Komunikasi dan Informatika Republik Indonesia No. 237/KEP/M.KOMINFO/07/2009 tanggal 27 Juli 2009, Perusahaan telah ditetapkan sebagai salah satu pemenang seleksi untuk memperoleh izin penyelenggaraan Jaringan Tetap Lokal Berbasis Packet Switched yang menggunakan Pita Frekuensi Radio 2,3 GHz untuk keperluan layanan Pita Lebar Nirkabel (Wireless

Broadband) di Zona 1 (wilayah Sumatera Bagian

Utara) dan Zona 4 (wilayah Banten, Jakarta, Bogor, Depok, Tangerang dan Bekasi). Selanjutnya, Perusahaan telah memperoleh izin penyelenggaraan Jaringan Tetap Lokal Berbasis

Packet Switched No. 119 tanggal 11 Januari

2017 (“Izin Penyelenggaraan”). Dengan ditetapkannya Izin Penyelenggaraan tersebut maka Izin Penyelenggaraan jaringan yang sebelumnya dimiliki oleh Perusahaan

Based on the Decree of the Ministry of Communication and Information of the Republic of Indonesia No. 237/KEP/M.KOMINFO/07/2009 dated July 27, 2009, the Company has been appointed as one of the selection winners to obtain implementation license of fixed local Packet Switched Based Network using 2.3 GHz Radio Frequency Band for Wireless Broadband services in Zone 1 (Northern part of Sumatera area) and Zone 4 (Banten, Jakarta, Bogor,

Depok, Tangerang and Bekasi area).

Furthermore, the Company has obtained the operational license of Fixed Local Packet Switched based network No. 119 dated 11

January 2017 (“Operational License”). In

connection with the issuance of such operational license, the previous operational license owned by the Company under the Decree of Minister of Informatics and Telecomunication of Republic of

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sebagaimana tercantum dalam Keputusan Menteri Komunikasi dan Informatika

No. 420/KEP/M.KOMINFO/11/2009 tanggal 6 November 2009 sebagaimana telah diubah

dengan Keputusan Menteri Komunikasi dan Informatika Republik Indonesia No.179/KEP/M.KOMINFO/04/2012 tanggal 2 April 2012 tentang Izin Penyelenggaraan Jaringan Tetap Lokal Berbasis Packet Switched dicabut dan dinyatakan tidak berlaku.

Indonesia No. 420/KEP/M.KOMINFO/11/2009 dated 6 November 2009 as amended by Decree of Minister of Informatics and Telecommunication

of Republic of Indonesia No.

179/KEP/M.KOMINFO/04/2012 dated 2 April 2012 regarding implementation license of the Fixed Local Packet Switched based network was revoked and declared invalid.

Entitas induk Perusahaan adalah AcrossAsia Limited (dalam Pailit), sebuah perusahaan yang didirikan di Cayman Islands dan kepemilikan sahamnya telah tercatat di Bursa Efek Hong Kong.

The parent of the Company is AcrossAsia Limited (in Bankruptcy), a company was incorporated in the Cayman Islands and its shares have been listed on the Hong Kong Stock Exchange.

1.b. Penawaran Umum Saham Perusahaan 1.b. The Company’s Public Offering Pernyataan Pendaftaran Perusahaan untuk

menawarkan 20.000.000 sahamnya kepada masyarakat dengan harga pelaksanaan Rp500 per saham dinyatakan efektif oleh Badan Pengawas Pasar Modal dalam suratnya No. S-73/PM/2000 tanggal 27 Januari 2000. Saham Perusahaan telah tercatat di Bursa Efek Surabaya pada tanggal 25 Februari 2000.

The Company’s Registration Statement to offer its 20,000,000 shares to the public at the price of Rp500 per share was declared effective by the Capital Market Supervisory Agency in its letter No. S-73/PM/2000 on January 27, 2000. The Company's shares were listed at the Surabaya Stock Exchange on February 25, 2000.

Pada tahun 2006, Perusahaan melakukan Penawaran Umum Terbatas I kepada para pemegang saham dalam rangka penerbitan Hak Memesan Efek Terlebih Dahulu (HMETD) sejumlah 441.674.000 saham baru (dengan nilai nominal Rp500 per saham) dengan harga penawaran Rp500 per saham dan sebanyak-banyaknya 129.904.118. Waran Seri I yang diterbitkan menyertai saham baru yang diberikan secara cuma-cuma sebagai insentif bagi Pemegang Saham Perusahaan dan/atau pemegang HMETD yang melaksanakan HMETD. Penawaran tersebut telah mendapat pemberitahuan pernyataan efektifnya berdasarkan Surat Ketua Badan Pengawas Pasar Modal dan Lembaga Keuangan No.S-3415/BL/2006 tanggal 28 Desember 2006, dan menjadi efektif setelah mendapat persetujuan dari Rapat Umum Pemegang Saham Perusahaan tanggal 29 Desember 2006.

In 2006, the Company conducted Limited Public Offering in connection with Pre-Emptive Rights Issuance I of 441,674,000 new shares (with par value Rp500 per share) at an offering price of

Rp500 per share and a maximum of

129,904,118. Warrant Serie I was issued attached to the new shares which given freely as incentive for the Shareholders of the Company and/or Pre-emptive Rights holders who exercise their rights. The offering received an effective notification statement based on the Letter from the Chairman of Capital Market and Financial

Institution Supervisory Agency No.

S-3415/BL/2006 dated December 28, 2006, and became effective after obtaining an approval from the Company’s General Meeting of Shareholders dated December 29, 2006.

Pada tahun 2010, Perusahaan melakukan Penawaran Umum Terbatas II kepada para pemegang saham dalam rangka penerbitan Hak Memesan Efek Terlebih Dahulu (HMETD) sejumlah 912.421.400 saham baru (dengan nilai nominal Rp500 per saham) dengan harga

In 2010, the Company conducted Limited Public Offering in connection with Pre-Emptive Rights Issuance II of 912,421,400 new shares (with par value Rp500 per share) at an offering price of Rp500 per share and a total of 130,345,914 Warant Serie II was issued attached to the new

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penawaran Rp500 per saham dan sejumlah 130.345.914 Waran Seri II yang diterbitkan menyertai saham baru yang diberikan secara cuma-cuma sebagai insentif bagi Pemegang Saham Perusahaan dan/atau pemegang HMETD yang melaksanakan HMETD. Penawaran tersebut telah mendapat pernyataan efektif berdasarkan Surat Ketua Badan Pengawas Pasar Modal dan Lembaga Keuangan No. S-3383/BL/2010 dan menjadi efektif setelah mendapat persetujuan dari Rapat Umum Pemegang Saham Perusahaan tanggal 19 April 2010.

shares which was given freely as incentive for the new Shareholders of the Company and/or Pre-emptive Rights holders who exercised their rights. The offering received an effective statement based on the letter from the Chairman of Capital Market and Financial Institution Supervisory Agency No. S-3383/BL/2010 and became effective upon approval from the General Meeting of Shareholders on April 19, 2010.

Seluruh saham Perusahaan telah tercatat di Bursa Efek Indonesia.

All of the Company's shares are listed on the Indonesian Stock Exchange.

1.c.Struktur Entitas Anak 1.c.The Structure of Subsidiaries Perusahaan memiliki pengendalian atas Entitas

Anak yang dimiliki secara langsung dan tidak langsung sebagai berikut:

The Company has control over the subsidiaries which owned directly and indirectly is as follows:

Entitas Anak/ Domisili/ Bidang Usaha/ Tahun Operasi

Subsidiaries Domicile Operations Komersial/Start

of Commercial Operations

31 Des/ 31 Des/ 31 Des/ 31 Des/

Dec 31, Dec 31, Dec 31, Dec 31,

2016 2015 2016 2015

PT First Media Jakarta Perfilman dan 100,00 100,00 2009 24.882 28.837

Production Perekaman Video/

("FMP") Film and Video

Recording

PT First Media Jakarta Perfilman dan 100,00 100,00 2010 60.178 96.363

News ("FMN") Perekaman Video/

Film and Video Recording

PT Margayu Jakarta Perdagangan/ 100,00 100,00 Belum 772 795

Vatri Chantiqa Trading Beroperasi/

("MVC") Non Operating

PT Jaring Data Jakarta Perdagangan/ 100,00 100,00 Belum 694 1.585

Interaktif ("JDI") Trading Beroperasi/

Dimiliki oleh FMN Non Operating

Sebesar 70%

PT Bintang Jakarta Telekomunikasi/ 100,00 100,00 Belum 35.675 26.839

Merah Perkasa Telecommunication Beroperasi/

Abadi ("BMPA") Non Operating

PT Graha Jakarta Perdagangan/ 100,00 100,00 Belum 12.805 11.057

Investama Trading Beroperasi/

Andalan Terpadu Non Operating

("GIAT")

Percentage

Persentase Jumlah Aset/

Pemilikan/ Total Assets

(15)

31 Des/ 31 Des/ 31 Des/ 31 Des/

Dec 31, Dec 31, Dec 31, Dec 31,

2016 2015 2016 2015

Percentage

of Ownership

PT Media Jakarta Perfilman dan 100.00 100.00 2004 832 894

Sinema Perekaman Video/

Indonesia Film and Video

("MSI") Recording

Dimiliki oleh FMP Sebesar 99.97%

PT Delta Jakarta Penyedia Jasa 100.00 100.00 2008 6,974 6,911

Nusantara Akses Internet/

Networks ("DNN") Internet Service

Dimiliki oleh GIAT Provider

Sebesar 50.17%

PT Citra Jakarta Perdagangan/ 100.00 100.00 Belum 46 125,041

Investama Trading Beroperasi/

Andalan Terpadu Non Operating

("CIAT")

PT Mitra Jakarta Perdagangan/ 99.90 69.04 Belum 3,856,327 3,936,548

Mandiri Mantap Trading Beroperasi/

("MMM") Non Operating

PT Internux Jakarta Penyedia Jasa 73.91 48.47 2013 3,504,267 3,729,586

("PT I"), Akses Internet/

Dimiliki oleh MMM Internet Service

Sebesar 73.98% Provider

PT MSH Jakarta Jasa Kartu Panggil/ 100.00 100.00 2009 21,415 17,557

Niaga Telecom Calling Card Services

Indonesia ("MSH") Dimiliki oleh BMPA Sebesar 80%

PT Cinemaxx Jakarta Perfilman dan -- 51.02 2014 -- 754,063

Global Pasifik Perekaman Video dan

("CGP") Jasa Bioskop/ Film and

Dimiliki oleh CIAT Video Recording and

Cinema Services

PT Prima Jakarta Perdagangan/ 100.00 100.00 2013 168,039 164,632

Wira Utama Trading

("PWU")

Dimiliki oleh BMPA Sebesar 99.99%

(16)

31 Des/ 31 Des/ 31 Des/ 31 Des/

Dec 31, Dec 31, Dec 31, Dec 31,

2016 2015 2016 2015

Percentage

of Ownership

PT Daya Jakarta Jasa E-Commerce / 100,00 100,00 2015 4.735 2.439

Sarana Mantap E-Commerce Services

("DSM")

PT Graha Raya Jakarta Perdagangan/ 100,00 100,00 Belum 90.330 995

Ekatama Andalan Trading Beroperasi/

Terpadu ("GREAT") Non Operating

PT Citra Eka Rama Jakarta Perdagangan/ 100,00 100,00 Belum 510 500

Investama Andalan Trading Beroperasi/

("CERIA") Non Operating

Dimiliki oleh GREAT Sebesar 99%

PT Lynx Jakarta Komunikasi/ 100,00 -- 2008 11.316

--Mitra Asia Communication

("LMA")

(1). Berdasarkan Akta No. 56 tanggal 31 Maret 2015 yang dibuat di hadapan Sriwi Bawana Nawaksari, S.H., M.Kn., notaris di Kabupaten Tangerang, CIAT (entitas anak) melakukan peningkatan penyertaan dalam CGP senilai Rp50.000 yang setara dengan 50.000.000 saham sehingga total kepemilikan saham CIAT pada CGP adalah sebanyak 83,33%. Kemudian berdasarkan Akta No. 74 tanggal 26 Juni 2015 yang juga dibuat di hadapan Sriwi Bawana Nawaksari, S.H. M.Kn, Notaris di Kabupaten, pemegang saham CGP setuju untuk menerima baik PT Investama Cahaya Adikarya (“ICA”) sebagai pemegang saham baru dan peningkatan modal CGP. Terkait dengan hal tersebut dan dikarenakan CIAT melepaskan haknya untuk mengambil bagian atas saham baru CGP, posisi CIAT terdilusi sehingga kepemilikan sahamnya di CGP menjadi sebesar 51,02%.

Berdasarkan Akta No. 72 tanggal 28 November 2016 dibuat di hadapan Sriwi Bawana Nawaksari, S.H., M.Kn., notaris di Kabupaten Tangerang, CGP (entitas anak) telah melakukan penerbitan saham baru sebanyak 100.000.000 saham yang telah diambil bagian seluruhnya oleh ICA. Atas penerbitan saham baru tersebut, CIAT melepaskan haknya untuk mengambil bagian atas saham baru CGP, posisi CIAT terdilusi sehingga kepemilikan sahamnya di CGP menjadi sebesar 36,23%.

(1). Based on Deed No. 56 dated March 31, 2015 made before Sriwi Bawana Nawaksari, S.H., M.Kn., Notary in Tangerang regency, CIAT (a subsidiary) has increase its share ownership in

CGP amounting to Rp50,000 equal to

50,000,000 shares therefore the total

shareholding of CIAT in CGP is 83.33%. Then, based on Deed No. 74 dated June 26, 2015

which also made before Sriwi Bawana

Nawaksari, S.H., M.Kn, notary in Tangerang, the shareholders of CGP have agreed to accept PT

Investama Cahaya Adikarya (“ICA”) as CGP’s

new shareholder and to increase the capital of CGP. In relation to that and since CIAT released its rights to buy CGP’s new shares, CIAT in CGP was diluted and its share ownership became 51.02%.

Based on Deed No. 72 dated November 28, 2016, made before Sriwi Bawana Nawaksari, S.H., M.Kn., notary in Tangerang, CGP (a

subsidiary) has issued new shares of

100,000,000 shares which has been fully subscribed by ICA. In relation to such, CIAT

released its rights to subscribe CGP’s new

shares, CIAT’s shares in CGP was diluted and its share ownership became 36.23%.

(17)

Berdasarkan Perjanjian Pengoperan Hak-Hak Atas Saham tanggal 30 Desember 2016, CIAT (entitas anak) telah menjual 36,23% sahamnya di CGP kepada PT Kreasi Andalan Abadi, pihak ketiga, sehingga terhitung sejak tanggal 30 Desember 2016 CIAT telah melepaskan seluruh kepemilikan sahamnya di CGP. Besarnya nilai transaksi ini sebesar Rp125.000 sehingga CIAT mencatat keuntungan sebesar Rp131.025. (2). Berdasarkan Akta No. 79 tanggal 29 Juni 2015,

dibuat di hadapan Amelia Jonatan, S.H., M.Kn., notaris pengganti dari Ny. Ira Sudjono, S.H., M.H, M.Kn., MM, M.Psi, notaris di Jakarta, atas Perjanjian Jual Beli Saham tertanggal 29 Juni 2015 yang dibuat di bawah tangan oleh dan antara Perusahaan dan PT Link Net Tbk (LN), Perusahaan menjual kepemilikan 31% sahamnya di PT First Media Television (FMTV) kepada LN, sehingga terhitung tanggal 29 Juni 2015 kepemilikan saham Perusahaan di FMTV menjadi sebesar 49%.

Berdasarkan Akta Penyimpanan No. 80 dan 81 tertanggal 19 November 2015 yang dibuat dihadapan Charles Hermawan, S.H., notaris di Tangerang, atas Perjanjian Jual Beli Saham tertanggal 19 November 2015 yang dibuat di bawah tangan oleh dan antara: (i) Perusahaan dan CIAT; dan (ii) Perusahaan dan LN, Perusahaan menjual kepemilikan 48,992% sahamnya di FMTV kepada LN dan 0,008% sahamnya di FMTV kepada CIAT, sehingga terhitung sejak tanggal 19 Nopember 2015 Perusahaan sudah melepaskan seluruh kepemilikan sahamnya di FMTV.

(3). Berdasarkan Akta No. 85 tanggal 18 Juni 2015 yang dibuat di hadapan Charles Hermawan, S.H., notaris di Tangerang tentang pendirian DSM, Perusahaan dan BMPA melakukan penyertaan modal dalam DSM masing-masing sejumlah 248 dan 2 lembar saham sehingga total kepemilikan saham pada DSM sebanyak 100%.

Berdasarkan Akta No. 6 tanggal 22 Desember 2016, dibuat di hadapan Ferdinand Hendra M. Sibarani, S.H., M.Kn., notaris di Kabupaten Lebak, Perusahaan telah mengambil bagian atas saham baru yang diterbitkan oleh DSM dengan cara mengompensasikan tagihan Perusahaan kepada DSM sebesar Rp4.347 menjadi 4.347 saham.

Based on Agreement of Rights of Shares Transfer dated December 30, 2016, CIAT (a subsidiary) has sell its 36.23% shares in CGP, to PT Kreasi Andalan Abadi, third party, therefore as on December 30, 2016, CIAT release all its share ownership in CGP. The value of this transaction amounted to Rp125,000 then CIAT recorded gain amounted to Rp131,025.

(2). Based on Deed No. 79 dated June 29, 2015, made before Amelia Jonatan, S.H., M.Kn., substitute notary for Mrs. Ira Sudjono, S.H., M.H, M.Kn., MM, M.Psi, notary in Jakarta, on the Agreement for the Sale and Purchase of Shares dated June 29, 2015 made by and between the Company and PT Link Net Tbk (LN), the Company sold its 31% share ownership in PT First Media Television (FMTV) to LN, thus on June 29, 2015 the share ownership of the Company in PT First Media Television (FMTV) is becoming 49%.

Based on Deposit Deed No. 80 and 81 dated November 19, 2015, made before Charles Hermawan, S.H., notary in Tangerang, upon the Agreement of Sale and Purchase of Shares dated November 19, 2015, drawn up privately, by and between: (i) the Company and CIAT; and (ii) the Company and LN, the Company sold its 48.992% shares ownership in FMTV to LN and the remaining 0.008% shares ownership to CIAT, therefore since November 19, 2015 the Company has released all its shares ownership in FMTV.

(3). Based on Deed No. 85 dated June 18, 2015 made before Charles Hermawan, S.H., notary in Tangerang about establishment of DSM, the Company and BMPA has subscribed shares in DSM of 248 shares and 2 shares, therefore the total share ownership in DSM as much as 100%.

Based on Deed No. 6 dated December 22, 2016 made before Ferdinand Hendra M Sibarani, S.H., M.Kn., Notary in Disctrict Lebak, the Company has subscribed new shares which issued by DSM (subsidiary) by way of compensate DSM debt to the Company amounting to Rp4,347 becoming 4,347 shares.

(18)

(4). Berdasarkan Akta Penyimpanan No. 68 dan 69, tertanggal 21 April 2016 yang dibuat di hadapan Charles Hermawan, S.H., notaris di Tangerang, atas Perjanjian Jual Beli Saham tertanggal 21 April 2016 yang dibuat di bawah tangan, GIAT dan DNN, keduanya entitas anak, telah melakukan pembelian saham dalam LMA dari LN senilai Rp1.787, dengan komposisi masing-masing sebagai berikut:

- PT Graha Investama Andalan Terpadu sebanyak 176.000 lembar saham atau yang mewakili 64% kepemilikan saham;

- PT Delta Nusantara Networks sebanyak 2.750 lembar saham atau yang mewakili 1% kepemilikan saham.

Berdasarkan Akta No. 114 tanggal 26 Agustus 2016 yang dibuat di hadapan Charles Hermawan, S.H., notaris di Tangerang, GIAT (entitas anak) telah mengambil bagian atas saham baru yang diterbitkan oleh LMA sebanyak 880.000 saham.

(5). Berdasarkan Akta No. 13 tanggal 27 April 2016 yang dibuat di hadapan Andalia Farida, S.H., M.H., notaris di Jakarta, MMM (entitas anak) telah mengambil bagian atas saham baru yang diterbitkan oleh PT I, dengan cara mengkonversi hutang PT I kepada MMM sebesar Rp440.000 menjadi 4.400.000.000 saham dalam PT I.

Berdasarkan Akta No. 129 tanggal 24 Juni 2016 yang dibuat dihadapan Andalia Farida, S.H., M.H., notaris di Jakarta, MMM (entitas anak) telah mengambil bagian atas saham baru yang diterbitkan oleh PT I sebanyak 50.000.000 saham dan mengompensasi tagihan MMM kepada PT I sebesar Rp35.000 menjadi 350.000.000 saham dalam PT I.

Berdasarkan Akta No. 4 tanggal 15 September 2016, yang dibuat di hadapan Andalia Farida, S.H., M.H., notaris di Jakarta, MMM (entitas anak) telah mengambil bagian atas saham baru yang diterbitkan oleh PT I sebanyak 800.000.000 saham senilai Rp80.000.

Berdasarkan Akta No. 13 tanggal 23 November 2016, yang dibuat di hadapan Andalia Farida, S.H., M.Kn., notaris di Jakarta, MMM (entitas anak) telah mengambil bagian atas saham baru yang diterbitkan oleh PT I sebanyak 1.680.000.000 saham dan mengompensasi tagihan MMM kepada PTI sebesar Rp128.000 menjadi 1.280.000.000 saham dalam PT I.

(4). Based on Deposit Deed No. 68 and 69, dated April 21, 2016 made before Charles Hermawan, S.H., notary in Tangerang, upon the Agreement of Sale and Purchase of Shares dated April 21, 2016, drawn up privately by GIAT and DNN, both are the Company’s subsidiaries, has purchased the shares in LMA from LN with amount of Rp1,787, with the composition as below:

- PT Graha Investama Andalan Terpadu in the

amount of 176,000 shares which represent 64% of share ownership;

- PT Delta Nusantara Networks in the amount of 2,750 shares which represent 1% of share ownership.

Based on Deed No. 114 dated August 26, 2016, made before Charles Hermawan, S.H., notary in Tangerang, GIAT (subsidiary) has subscribed new shares issued by LMA amounting to 880,000 shares.

(5). Based on Deed No. 13, dated April 27, 2016, made before Andalia Farida, S.H., M.H., notary in Jakarta, MMM (a subsidiary) has subscribed new shares issued by PT I, by way of compensate PT I’s debt to MMM amounting to Rp440,000 becoming 4,400,000,000 shares in PT I.

Based on Deed No. 129 dated June 24, 2016, made before Andalia Farida, S.H., M.H., notary in Jakarta, MMM (subsidiary) has subscribed new shares issued by PT I of 50,000,000 shares and compensate PT I’s debt to MMM amounting to Rp35,000 becoming 350,000,000 shares in PT I.

Based on Deed No. 4 dated September 15, 2016, made before Andalia Farida, S.H., M.H., notary in Jakarta, MMM (Subsidiary) has subscribed new shares which issued by PT I amounting to 800,000,000 shares amounting to Rp80,000.

Based on Deed No. 13 dated November 23, 2016, made before Andalia Farida, S.H., M.Kn., notary in Jakarta, MMM (subsidiary) has subscribed new shares issued by PT I

amounting to 1,680,000,000 shares and

compensate PT I’s debt to MMM amounting to Rp128,000 becoming 1,280,000,000 shares in PT I.

(19)

(6). Berdasarkan Akta No. 115 tanggal 26 Agustus 2016 yang dibuat di hadapan Charles Hermawan, S.H., notaris di Tangerang, Perusahaan telah mengambil bagian atas saham baru yang diterbitkan oleh FMP sebanyak 23.045.000 saham.

(7). Berdasarkan Akta No. 116 tanggal 26 Agustus 2016 yang dibuat di hadapan Charles Hermawan, S.H., notaris di Tangerang, FMP (entitas anak) telah mengambil bagian atas saham baru yang diterbitkan oleh GIAT sebanyak 11.522.500 saham.

(8). Berdasarkan Akta No. 11 tanggal 22 Desember 2016, yang dibuat di hadapan Ferdinand Hendra M Sibarani, S.H., M.Kn., notaris di Kabupaten Lebak, Perusahaan telah mengambil bagian atas saham baru yang diterbitkan oleh FMN (entitas anak) dengan cara mengompensasikan tagihan Perusahaan kepada FMN sebesar Rp25.643 saham.

(9). Berdasarkan Akta No. 10 tanggal 22 Desember 2016, dibuat di hadapan, Ferdinand Hendra M Sibarani, S.H., M.Kn., notaris di Kabupaten Lebak, Perusahaan telah mengambil bagian atas saham baru yang diterbitkan oleh FMP (entitas anak) dengan cara mengompensasikan tagihan Perusahaan kepada FMP sebesar Rp24.921 menjadi 49.841.121 saham.

(10). Berdasarkan Akta No. 5 tanggal 22 Desember 2016, dibuat di hadapan Ferdinand Hendra M Sibarani, S.H., M.Kn., notaris di Kabupaten Lebak, Perusahaan telah mengambil bagian atas saham baru yang diterbitkan oleh MMM (entitas anak) dengan cara mengompensasikan tagihan Perusahaan kepada MMM sebesar Rp1.073.525 menjadi 1.073.525 saham.

(11). Berdasarkan Akta No. 8 tanggal 22 Desember 2016, dibuat di hadapan Ferdinand Hendra M. Sibarani, S.H., M.Kn., notaris di Kabupaten Lebak, Perusahaan telah mengambil bagian atas saham baru yang diterbitkan oleh MVC dengan cara mengompensasikan tagihan Perusahaan kepada MVC sebesar Rp749 menjadi sejumlah 749.267 saham.

(12). Berdasarkan Akta No. 12 tanggal 22 Desember 2016, dibuat di hadapan Ferdinand Hendra M Sibarani, S.H., M.Kn., notaris di Kabupaten Lebak, Perusahaan telah mengambil bagian atas saham baru yang diterbitkan oleh CIAT dengan cara mengompensasikan tagihan Perusahaan kepada CIAT sebesar Rp100.605 menjadi 100.605 saham.

(6). Based on Deed No. 115 dated August 26, 2016, made before Charles Hermawan, S.H., notary in Tangerang, the Company has subscribed new shares issued by FMP amounting to 23,045,000 shares.

(7). Based on Deed No. 116 dated August 26, 2016, made before Charles Hermawan, S.H., notary in Tangerang, FMP (subsidiary) has subscribed new shares issued by GIAT amounting to 11,522,500 shares.

(8). Based on Deed No, 11 dated December 22, 2016, made before Ferdinand Hendra M Sibarani, S,H., M.Kn., notary in District Lebak, Company has subscribed new shares issued by FMN (subsidiary) by way of compensate FMN debt to the Company amounting to Rp25,643 becoming 25,643 shares.

(9). Based on Deed No. 10 dated December 22, 2016, made before Ferdinand Hendra M Sibarani, S.H., M.Kn., notary in Disctrict Lebak, the Company has subscribed new shares issued by FMP (subsidiary) by way of compensate FMP debt to Company amounting to Rp24,921 becoming 49,841,121 shares. (10). Based on Deed No. 5 dated December 22, 2016

made before Ferdinand Hendra M Sibarani, S.H., M.Kn., notary in Disctrict Lebak, The Company has subscribed new shares issued by MMM (subsidiary) by way of compensate MMM’s debt to the Company amounting to Rp1,073,525 and becoming 1,073,525 shares. (11).Based on Deed No. 8 dated Desember 22, 2016

made before Ferdinand Hendra M Sibarani, S.H., M.Kn., notary in Disctrict Lebak, the Company has subscribed new shares issued by MVC (subsidiary) by way of compensate MVC’s debt to the Company amounting to Rp749 becoming 749,267 shares.

(12). Based on Deed No. 12 dated December 22, 2016 made before Ferdinand Hendra M Sibarani, S.H., M.Kn., notary in Disctrict Lebak, the Company has subscribed new shares issued by CIAT (subsidiary) by way of compensate CIAT’s debt to the Company amounting to Rp100,605 becoming 100,605 shares.

(20)

Berdasarkan Keputusan Tertulis Para Pemegang Saham Sebagai Pengganti Rapat Umum Pemegang Saham Luar Biasa CIAT tanggal 27 Desember 2016, para pemegang saham CIAT telah menyetujui penurunan modal dasar CIAT menjadi sebesar Rp400 dan penurunan modal disetor dan ditempatkan CIAT menjadi sebesar Rp101.

(13). Berdasarkan Akta No. 9 tanggal 22 Desember 2016, dibuat di hadapan Ferdinand Hendra M. Sibarani, S.H., M.Kn., notaris di Kabupaten Lebak, Perusahaan telah mengambil bagian atas saham baru yang diterbitkan oleh GREAT dengan cara mengompensasikan tagihan Perusahaan kepada GREAT sebesar Rp4.000 menjadi 4.000 saham.

(14). Berdasarkan Akta No. 13 tanggal 22 Desember 2016, dibuat di hadapan Ferdinand Hendra M. Sibarani, S.H., M.Kn., notaris di Kabupaten Lebak, Perusahaan telah mengambil bagian atas saham baru yang diterbitkan oleh PWU dengan cara mengompensasikan tagihan Perusahaan kepada PWU sebesar Rp18.000 menjadi 18.000.000 saham.

(15). Berdasarkan Akta No. 7 tanggal 22 Desember 2016 dibuat di hadapan Ferdinand Hendra M. Sibarani, S.H., M.Kn., notaris di Kabupaten Lebak, Perusahaan telah mengambil bagian atas saham baru yang diterbitkan oleh DNN dengan cara mengompensasikan tagihan Perusahaan kepada DNN sebesar Rp3.871 menjadi 7.742 saham

Based on the Shareholders’ Circular Resolution in Lieu of Extraordinary General Meeting of Shareholders of CIAT dated December 27, 2016, the shareholders have agreed to reduce CIAT’s authorized capital became Rp400 and paid in capital became Rp101.

(13). Based on Deed No. 9 dated December 22, 2016 made before Ferdinand Hendra M Sibarani, S.H., M.Kn., notary in Disctrict Lebak, the Company has subscribed new shares issued by GREAT (subsidiary) by way of compensate GREAT’s debt to the Company amounting to Rp4,000 becoming 4,000 shares.

(14). Based on Deed No. 13 dated December 22, 2016 made before Ferdinand Hendra M Sibarani, S.H., M.Kn., notary in Disctrict Lebak, the Company has subscribed new shares issued by PWU (subsidiary) by way of compensate PWU’s debt to the Company amounting to Rp18,000 becoming 18,000,000 shares.

((15). Based on Deed No. 7 dated December 22, 2016 made before Ferdinand Hendra M. Sibarani, S.H., M.Kn., notary in Disctrict Lebak, the Company has subscribed new shares issued by DNN (subsidiary) by way of compensate DNN’s debt to the Company amounting to Rp3,871 becoming 7,742 shares.

1.d. Dewan Komisaris, Direksi dan Karyawan 1.d. Board of Commissioners, Directors and Employees

Pada tanggal 31 Desember 2016, susunan anggota Dewan Komisaris dan Direksi Perusahaan masing-masing berdasarkan Rapat Umum Pemegang Saham Tahunan yang diselenggarakan pada tanggal 15 April 2016, yang diaktakan dalam Akta Notaris Andalia Farida, S.H., M.Kn., No. 04 tanggal 15 April 2016 adalah sebagai berikut:

As of December 31, 2016, the members of the Company’s Board of Commissioners and Board of Directors based on the Annual General Meeting of Shareholders held on April 15, 2016, as covered by Notarial Deed No. 04 of Andalia Farida, S.H., M.Kn., dated April 15, 2016, are as follows:

Dewan Komisaris Board of Commissioners

Presiden Komisaris Theo L. Sambuaga President Commissioner

Komisaris Independen Didik J. Rachbini Independent Commissioner

Komisaris Independen Muladi Independent Commissioner

Komisaris Independen Nanan Soekarna Independent Commissioner

(21)

Direksi Directors

Presiden Direktur Wakil Presiden Direktur

Ali Chendra Irwan Djaja

President Director Vice President Director

Direktur Independen Harianda Noerlan Independent Director

Direktur Dicky Setiadi Moechtar Director

Direktur Johannes Tong Director

Direktur Edward Sanusi Director

Direktur Maria Clarissa F. Joesoep Director

Pada tanggal 31 Desember 2015, susunan anggota Dewan Komisaris dan Direksi Perusahaan masing-masing berdasarkan Rapat Umum Pemegang Saham Tahunan yang diselenggarakan pada tanggal 15 Mei 2015, yang diaktakan dalam Akta Notaris Andalia Farida, S.H., M.Kn., No. 31 tanggal 15 Mei 2015 adalah sebagai berikut:

As of December 31, 2015, the members of the Company’s Board of Commissioners and Board of Directors based on the Annual General Meeting of Shareholders held on May 15, 2015, as covered by Notarial Deed No. 31 of Andalia Farida, S.H., M.Kn., dated May 15, 2015, are as follows:

Dewan Komisaris Board of Commissioners

Presiden Komisaris Theo L. Sambuaga President Commissioner

Komisaris Independen Didik J. Rachbini Independent Commissioner

Komisaris Independen Rizal Ramli *) Independent Commissioner

Komisaris Independen Muladi Independent Commissioner

Komisaris Independen Nanan Soekarna Independent Commissioner

Komisaris Independen Ito Sumardi DS Independent Commissioner

Komisaris Komisaris Komisaris

Markus Permadi Benny Haryanto Djie

Richard Setiadi WP Commissioner Commissioner Commissioner Direksi Directors Presiden Direktur Wakil Presiden Direktur

Ali Chendra Irwan Djaja

President Director Vice President Director

Direktur Independen Harianda Noerlan Independent Director

Direktur Dicky Setiadi Moechtar Director

Direktur Johannes Tong Director

Direktur Anthony Chandra Kartawiria Director

Direktur Richard Kartawijaya Director

*) Mengundurkan diri per 12 Agustus 2015 terkait penugasan beliau sebagai Menteri.\

*) Resigned per August 12, 2015 related to his assignment as Minister.

Pada tanggal 31 Desember 2016 dan 2015, susunan komite audit adalah sebagai berikut:

As of December 31, 2016 and 2015, the members of the audit committee are as follows:

Ketua Didik J. Rachbini Chairman

Anggota Herman Latief Member

Anggota R Hikmat Kartadjoemena Member

Pada tanggal 31 Desember 2016 dan 2015,

corporate secretary Perusahaan adalah

Harianda Noerlan.

As of December 31, 2016 and 2015, the Company’s corporate secretary is Harianda Noerlan.

Perusahaan dan Entitas-entitas Anak (selanjutnya disebut Grup), pada tanggal 31 Desember 2016 dan 2015 mempunyai masing-masing sekitar 1.520 dan 1.565 karyawan tetap (tidak diaudit).

The Company and its Subsidiaries (hereinafter referred as the Group), as of December 31, 2016 and 2015, have approximately 1,520 and

1,565 permanent employees, respectively

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2. Ikhtisar Kebijakan Akuntansi Signifikan 2. Summary of Significant Accounting Policies 2.a. Kepatuhan terhadap Standar Akuntansi

Keuangan (SAK)

2.a. Compliance to the Financial Accounting Standards (FAS)

Laporan keuangan konsolidasian telah disusun dan disajikan sesuai dengan Standar Akuntansi Keuangan di Indonesia yang meliputi Pernyataan Standar Akuntansi Keuangan (PSAK) dan Interpretasi Standar Akuntansi Keuangan (ISAK) yang diterbitkan oleh Dewan Standar Akuntansi Keuangan – Ikatan Akuntan Indonesia (DSAK – IAI), serta peraturan Pasar Modal yang berlaku antara lain Peraturan Otoritas Jasa Keuangan/Badan Pengawas Pasar Modal dan Lembaga Keuangan (OJK/Bapepam-LK) No. VIII.G.7 tentang pedoman penyajian laporan keuangan, keputusan Ketua Bapepam-LK No. KEP-347/BL/2012 tentang penyajian dan pengungkapan laporan keuangan emiten atau perusahaan publik.

The consolidated financial statements were prepared and presented in accordance with Indonesian Financial Accounting Standards which include the Statement of Financial

Accounting Standards (PSAK) and

Interpretation of Financial Accounting Standards (ISAK) issued by the Financial Accounting

Standard Board – Indonesian Institute of

Accountant (DSAK – IAI), and regulations in the Capital Market include Regulations of Financial

Sevices Authority/Capital Market and

Supervisory Board and Financial Institution

(OJK/Bapepam-LK) No. VIII.G.7 regarding

guidelines for the presentation of financial statements, decree of Chairman of Bapepam-LK No. KEP-347/BL/2012 regarding presentation and disclosure of financial statements of the issuer or public company.

2.b. Dasar Pengukuran dan Penyusunan Laporan Keuangan Konsolidasian

2.b. Basis of Measurement and Preparation of Consolidated Financial Statements

Laporan keuangan konsolidasian disusun dan disajikan berdasarkan asumsi kelangsungan usaha serta atas dasar akrual, kecuali laporan arus kas konsolidasian. Dasar pengukuran dalam penyusunan laporan keuangan konsolidasian ini adalah konsep biaya perolehan, kecuali beberapa akun tertentu yang didasarkan pengukuran lain sebagaimana dijelaskan dalam kebijakan akuntansi masing-masing akun tersebut. Biaya perolehan umumnya didasarkan pada nilai wajar imbalan yang diserahkan dalam pemerolehan aset.

The consolidated financial statements have been prepared and presented based on going concern assumption and accrual basis of

accounting, except for the consolidated

statements of cash flows. Basis of

measurement in preparation of these

consolidated financial statements is the

historical costs concept, except for certain accounts which have been prepared on the basis of other measurements as described in their respective policies. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Laporan arus kas konsolidasian disajikan dengan metode langsung (direct method) dengan mengelompokkan arus kas dalam aktivitas operasi, investasi dan pendanaan.

The consolidated statements of cash flows are prepared using the direct method by classifying cash flows into operating, investing and financing activities.

Mata uang penyajian yang digunakan dalam penyusunan laporan keuangan konsolidasian ini adalah Rupiah yang merupakan mata uang fungsional Grup. Setiap entitas di dalam Grup menetapkan mata uang fungsional sendiri dan unsur-unsur dalam laporan keuangan dari setiap entitas diukur berdasarkan mata uang fungsional tersebut.

The presentation currency used in the

preparation of the consolidated financial

statements is Indonesian Rupiah which is the functional currency of the Group. Each entity in the Group determines its own functional currency and items included in the financial statements of each entity are measured using that functional currency.

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Penyesuaian, Interpretasi dan Amandemen Pernyataan Standar Akuntansi yang Berlaku efektif pada Tahun Berjalan

Improvements, Interpretation and

Amendments of Statements of Financial Accounting Standards Effective in the Current Year

Perusahaan dan entitas anak menerapkan penyesuaian, interpretasi dan amandemen standar yang efektif untuk periode yang dimulai pada 1 Januari 2016. Penerapan ini tidak memberikan pengaruh yang material pada laporan keuangan konsolidasian Perusahaan. Daftar penyesuaian, interpretasi dan amandemen standar tersebut adalah sebagai berikut:

The Company and its subsidiaries adopted standard improvements, interpretation and amendements which are effective for period beginning on January 1, 2016. The adoption did not have a material impact on the Company’s consolidated financial statements.

The list of standard improvements,

interpretation and amendements are as follows:

Penyesuaian: Improvements:

 PSAK 5 “Segmen Operasi”,

 PSAK 7 “Pengungkapan Pihak-pihak Berelasi”,

 PSAK 13 “Properti Investasi”,

 PSAK 16 “Aset Tetap”,

 PSAK 19 “Aset Takberwujud”,

 PSAK 22 “Kombinasi Bisnis”,

 PSAK 25 “Kebijakan Akuntansi, Perubahan Estimasi Akuntansi dan Kesalahan”,

 PSAK 53 “Pembayaran Berbasis Saham”, dan

 PSAK 68 “Pengukuran Nilai Wajar”. Interpretasi:

 ISAK 30 “Pungutan”.

 PSAK 5 ”Operating Segment”,

 PSAK 7 ”Related Party Disclosure”,

 PSAK 13 ”Investment Property”,

 PSAK 16 ”Fixed Assets”,

 PSAK 19 ”Intangible Assets”,

 PSAK 22 ”Business Combination”,

 PSAK 25 ”Accounting Policies, Changes in

Accounting Estimates and Errors”,

 PSAK 53 ”Share-Based Payments”, and

 PSAK 68 ”Fair Value Measurement”.

Interpretation:

 ISAK 30 ”Levies”.

Amandemen: Amendments:

 PSAK 4 (Revisi 2013) “Laporan Keuangan Tersendiri” tentang Metode Ekuitas dalam Laporan Keuangan Tersendiri,

 PSAK 15 (Revisi 2013) “Investasi pada Entitas Asosiasi dan Ventura Bersama” tentang Entitas Investasi: Penerapan Pengecualian Konsolidasi,

 PSAK 16 “Aset Tetap” tentang Klarifikasi Metode yang Diterima untuk Penyusutan dan Amortisasi,

 PSAK 19 “Aset Takberwujud” tentang Klarifikasi Metode yang Diterima untuk Penyusutan dan Amortisasi,

 PSAK 24 “Imbalan Kerja” tentang Program Imbalan Pasti: Iuran Pekerja,

 PSAK 65 “Laporan Keuangan Konsolidasian” tentang Entitas Investasi: Penerapan Pengecualian Konsolidasi,

 PSAK 66 “Pengaturan Bersama” tentang Akuntansi Akuisisi Kepentingan dalam Operasi Bersama, dan

 PSAK 4 (Revised 2013) “Separate Financial

Statements” about Equity Method in Separate Financial Statements,

 PSAK 15 (Revised 2013) “Investments in

Associates and Joint Ventures” about

Investment Entities: Applying the

Consolidation Exception,

 PSAK 16 ”Fixed Assets” about Clarification of

Acceptable Methods of Depreciation and Amortization,

 PSAK 19 ”Intangible Asset” about

Clarification of Acceptable Methods of Depreciation and Amortization,

 PSAK 24 “Employee Benefits” about Defined

Benefit Plans: Employee Contributions,

 PSAK 65 ”Consolidated Financial

Statements” about Investment Entity:

Exception to Consolidation,

 PSAK 66 ”Joint Arrangements” about

Accounting for Acquisition of Interest in Joint Operations and