PT UNGGUL INDAH CAHAYA Tbk. DAN ANAK PERUSAHAAN AND SUBSIDIARIES

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Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2005 dan 2004

PT UNGGUL INDAH CAHAYA Tbk.

DAN ANAK PERUSAHAAN

Years Ended December 31, 2005 and 2004

PT UNGGUL INDAH CAHAYA Tbk.

AND SUBSIDIARIES

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Daftar Isi

Halaman Laporan Auditor Independen

Neraca Konsolidasi ... 1-3 Laporan Laba Rugi Konsolidasi ... 4-5

Laporan Perubahan Ekuitas Konsolidasi... 6 Laporan Arus Kas Konsolidasi... 7-8 Catatan atas Laporan Keuangan Konsolidasi.... 9-76

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Table of Contents

Page Independent Auditors’ Report

Consolidated Balance Sheets... 1-3 Consolidated Statements of Income ... 4-5 Consolidated Statements of Changes in

Shareholders’ Equity... 6 Consolidated Statements of Cash Flows... 7-8 Notes to the Consolidated Financial Statements 9-76

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Laporan Auditor Independen Independent Auditors’ Report

Laporan No. RPC-5242 Report No. RPC-5242

Pemegang Saham, Dewan Komisaris dan Direksi PT Unggul Indah Cahaya Tbk.

The Shareholders and Boards of Commissioners and Directors

PT Unggul Indah Cahaya Tbk.

Kami telah mengaudit neraca konsolidasi PT Unggul Indah Cahaya Tbk. dan Anak Perusahaan tanggal 31 Desember 2005 dan 2004, serta laporan laba rugi konsolidasi, laporan perubahan ekuitas konsolidasi dan laporan arus kas konsolidasi untuk tahun yang berakhir pada tanggal-tanggal tersebut. Laporan keuangan adalah tanggung jawab manajemen Perusahaan.

Tanggung jawab kami terletak pada pernyataan pendapat atas laporan keuangan berdasarkan audit kami. Kami tidak mengaudit laporan keuangan konsolidasi Universal Interchemicals Corp. Pte., Ltd., Anak Perusahaan yang dimiliki sepenuhnya, yang laporan keuangannya mencerminkan jumlah aktiva dan jumlah penjualan bersih masing-masing sekitar 21% dan 28% untuk tahun 2005, serta sekitar 29% dan 32% untuk tahun 2004, dari jumlah konsolidasi terkait. Laporan keuangan tersebut diaudit oleh auditor independen lain dengan pendapat wajar tanpa pengecualian, yang laporannya telah diserahkan kepada kami, dan pendapat kami, sejauh yang berkaitan dengan jumlah-jumlah untuk Anak Perusahaan tersebut, semata-mata hanya didasarkan atas laporan auditor independen lain tersebut.

We have audited the consolidated balance sheets of PT Unggul Indah Cahaya Tbk. and Subsidiaries as of December 31, 2005 and 2004, and the related consolidated statements of income, changes in shareholders’ equity and cash flows for the years then ended. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We did not audit the consolidated financial statements of Universal Interchemicals Corp. Pte., Ltd., a wholly- owned Subsidiary, which statements reflect total assets and total net sales accounting for about 21%

and 28%, respectively, of the consolidated totals in 2005, and for about 29% and 32%, respectively, of the consolidated totals in 2004. Those financial statements were audited by other independent auditors whose unqualified reports have been furnished to us, and our opinion, insofar as it relates to the amounts included for that Subsidiary, is based solely on the reports of the other independent auditors.

Kami melaksanakan audit berdasarkan standar auditing yang ditetapkan Ikatan Akuntan Indonesia.

Standar tersebut mengharuskan kami merencanakan dan melaksanakan audit agar kami memperoleh keyakinan memadai bahwa laporan keuangan bebas dari salah saji material. Suatu audit meliputi pemeriksaan, atas dasar pengujian, bukti-bukti yang mendukung jumlah-jumlah dan pengungkapan dalam laporan keuangan. Audit juga meliputi penilaian atas prinsip akuntansi yang digunakan dan estimasi signifikan yang dibuat oleh manajemen, serta penilaian terhadap penyajian laporan keuangan secara keseluruhan. Kami yakin bahwa audit kami dan laporan auditor independen lain memberikan dasar memadai untuk menyatakan pendapat.

We conducted our audits in accordance with auditing standards established by the Indonesian Institute of Accountants. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.

We believe that our audits and the reports of the other independent auditors provide a reasonable basis for our opinion.

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menyajikan secara wajar, dalam semua hal yang material, posisi keuangan PT Unggul Indah Cahaya Tbk.

dan Anak Perusahaan tanggal 31 Desember 2005 dan 2004, dan hasil usaha serta arus kas untuk tahun yang berakhir pada tanggal-tanggal tersebut sesuai dengan prinsip akuntansi yang berlaku umum di Indonesia.

all material respects, the financial position of PT Unggul Indah Cahaya Tbk. and Subsidiaries as of December 31, 2005 and 2004, and the results of their operations and their cash flows for the years then ended in conformity with generally accepted accounting principles in Indonesia.

Sebagaimana dijelaskan dalam Catatan 3 atas laporan keuangan konsolidasi, efektif 16 Juni 2005, Perusahaan melalui PT Unggul Indah Investama, Anak Perusahaan, mengkonversi sebagian obligasi konversi yang dimilikinya menjadi 55% kepemilikan saham pada PT Wiranusa Grahatama. Karena transaksi tersebut merupakan transaksi restrukturisasi antara entitas sepengendali, maka sesuai dengan ketentuan yang diatur dalam Pernyataan Standar Akuntansi Keuangan No. 38 (Revisi 2004), “Akuntansi Restrukturisasi Entitas Sepengendali”, laporan keuangan konsolidasi pada tanggal dan untuk tahun yang berakhir pada tanggal 31 Desember 2004 disajikan kembali untuk memperlihatkan pengaruh transaksi tersebut seolah-olah terjadi sejak awal periode yang disajikan (1 Januari 2004).

As discussed in Note 3 to the consolidated financial statements, effective June 16, 2005, the Company through PT Unggul Indah Investama, a Subsidiary, converted portions of convertible bonds it held into 55% ownership interest in PT Wiranusa Grahatama.

Since the transaction constitutes a restructuring transaction among entities under common control, therefore, in accordance with the provisions of Statement of Financial Accounting Standards No. 38 (Revised 2004), “Accounting for Restructuring Transactions among Entities under Common Control”, the consolidated financial statements as of and for the year ended December 31, 2004 were restated to reflect the effects of the said transaction as if it occurred at the beginning of the earliest period presented (January 1, 2004).

Prasetio, Sarwoko & Sandjaja

Indrajuwana Komala Widjaja Izin Akuntan Publik No. 98.1.0511/

Public Accountant License No. 98.1.0511 15 Februari 2006/February 15, 2006

The accompanying consolidated financial statements are not intended to present the financial position, results of operations and cash flows in accordance with accounting principles and practices generally accepted in countries and jurisdictions other than Indonesia. The standards, procedures and practices to audit such consolidated financial statements are those generally accepted and applied in Indonesia.

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As Restated -

Catatan 2005 Note 3) Notes

AKTIVA ASSETS

AKTIVA LANCAR CURRENT ASSETS

Kas dan setara kas 2c,2f,2n, 2c,2f,2n, Cash and cash equivalents

4,25c,27 6.871.336 14.204.800 4,25c,27

Investasi jangka pendek 2d,2f,2n,5, 2d,2f,2n,5, Short-term investments

11,25c,27, 11,25c,27,

28c,28d,28e 6.452.801 24.551.309 28c,28d,28e

Piutang usaha 2e,2n,6,27 2e,2n,6,27 Trade receivables

Pihak yang mempunyai

hubungan istimewa 2f,25a 27.864.030 20.589.764 2f,25a Related parties

Pihak ketiga, setelah dikurangi

penyisihan piutang ragu-ragu Third parties, net of allowance

sebesar US$142.430 for doubtful accounts of

pada tahun 2005 US$142,430 in 2005

(2004: US$238.280) 12.929.237 16.531.982 (2004: US$238,280)

Piutang lain-lain 2e,2n,27 2e,2n,27 Other receivables

hubungan istimewa 2f 21.307 22.813 2f Related parties

Pihak ketiga 13 888.114 802.451 13 Third parties

Persediaan, bersih 2g,7,11 64.234.947 87.182.412 2g,7,11 Inventories, net

Pajak dibayar di muka 2n,13,27 978.866 2.964.532 2n,13,27 Prepaid taxes

Biaya dibayar di muka dan Prepaid expenses and

uang muka kepada pemasok 2h,28b 3.007.799 3.699.857 2h,28b advances to suppliers

JUMLAH AKTIVA LANCAR 123.248.437 170.549.920 TOTAL CURRENT ASSETS

AKTIVA TIDAK LANCAR NON-CURRENT ASSETS

Aktiva real estat 2i,3,8 37.980.934 30.354.370 2i,3,8 Real estate assets

Aktiva tetap, setelah

dikurangi akumulasi Property, plant and

penyusutan sebesar equipment, net of

US$154.971.094 accumulated depreciation of

pada tahun 2005 2j,2o,9,23, 2j,2o,9,23, US$154,971,094 in 2005

(2004: US$146.769.401) 26,28a,28b 109.185.144 103.042.815 26,28a,28b (2004: US$146,769,401) Aktiva pajak tangguhan 2n,2r,13 525.381 101.712 2n,2r,13 Deferred tax assets

Goodwill, bersih 2b,10 1.365.989 1.639.186 2b,10 Goodwill, net

Claims for income

Tagihan pajak penghasilan 2n,2r,13,27 591.575 1.047.832 2n,2r,13,27 tax refund Instrumen derivatif, bersih 2n,2q,29 - 1.521.531 2n,2q,29 Derivative instruments, net Aktiva tidak lancar lainnya, 2f,2k,2n,13, 2f,2k,2n,13, Other non-current assets,

bersih 27,31a,31b 1.331.204 763.380 27,31a,31b net

JUMLAH AKTIVA TIDAK LANCAR 150.980.227 138.470.826 TOTAL NON-CURRENT ASSETS

JUMLAH AKTIVA 2o,26 274.228.664 309.020.746 2o,26 TOTAL ASSETS

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Catatan atas laporan keuangan konsolidasi terlampir merupakan bagian yang

tidak terpisahkan dari laporan keuangan konsolidasi secara keseluruhan. The accompanying notes form an integral part of these consolidated financial statements.

Kembali -

Catatan 3/

As Restated -

LIABILITIES AND

KEWAJIBAN DAN EKUITAS SHAREHOLDERS’ EQUITY

KEWAJIBAN LANCAR CURRENT LIABILITIES

Hutang bank jangka pendek Short-term bank loans

dan cerukan 2n,7,11 22.050.000 36.037.535 2n,7,11 and overdraft

Hutang usaha 2n,27 2n,27 Trade payables

Pihak ketiga 12 18.282.177 35.986.873 12 Third parties

hubungan istimewa 2f,25b 1.035.532 1.381.677 2f,25b Related parties

Hutang lain-lain 2n,27 2n,27 Other payables

Pihak ketiga 28a,28b 1.298.685 869.180 28a,28b Third parties

hubungan istimewa 2f 209.588 269.540 2f Related parties

Hutang pajak 2n,2r,13,27 2.426.238 2.840.879 2n,2r,13,27 Taxes payable

Biaya masih harus dibayar 2n,14,27 10.190.014 8.110.144 2n,14,27 Accrued expenses Pendapatan yang ditangguhkan 2f,2p,25e 9.531.913 1.749.266 2f,2p,25e Deferred income

JUMLAH KEWAJIBAN LANCAR 65.024.147 87.245.094 TOTAL CURRENT LIABILITIES

KEWAJIBAN TIDAK LANCAR NON-CURRENT LIABILITIES

Hutang bank jangka panjang 2n,15,27 952.085 8.958.891 2n,15,27 Long-term bank loan

Hutang obligasi, bersih 2l,2n,2q,16, 2l,2n,2q,16, Bonds payable, net

27,28b,29 55.532.152 63.819.772 27,28b,29

Hutang royalti 2j,28a,28b 4.999.066 - 2j,28a,28b Royalty payable

Kewajiban pajak tangguhan,

bersih 2n,2r,13 9.016.831 12.676.616 2n,2r,13 Deferred tax liabilities, net Instrumen derivatif, bersih 2q,29 5.733.201 - 2q,29 Derivative instruments, net

Kewajiban imbalan pasca Post-employment benefits

kerja, bersih 2m,2n,24,27 1.537.973 1.300.608 2m,2n,24,27 liability, net

Hutang kepada pihak yang

mempunyai hubungan

istimewa 2f,2n,25d,27 4.759.112 10.001.914 2f,2n,25d,27 Due to related parties

JUMLAH KEWAJIBAN TOTAL NON-CURRENT

TIDAK LANCAR 82.530.420 96.757.801 LIABILITIES

JUMLAH KEWAJIBAN 2o,26 147.554.567 184.002.895 2o,26 TOTAL LIABILITIES

HAK MINORITAS ATAS AKTIVA MINORITY INTERESTS IN NET

BERSIH ANAK PERUSAHAAN 2b 5.290.658 4.359.268 2b ASSETS OF SUBSIDIARIES

EQUITY OF PT WIRANUSA

EKUITAS PT WIRANUSA GRAHATAMA PRIOR TO

GRAHATAMA SEBELUM RESTRUCTURING TRANSACTION

RESTRUKTURISASI ENTITAS AMONG ENTITIES UNDER

SEPENGENDALI 2b,3 - 3.510.096 2b,3 COMMON CONTROL

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(Disajikan

Kembali -

Catatan 3/

As Restated -

EKUITAS SHAREHOLDERS’ EQUITY

Modal saham - nilai nominal Share capital - Rp500

Rp500 per saham par value per share

Authorized -

Modal dasar - 1.160.000.000 saham 1,160,000,000 shares

Modal ditempatkan dan disetor Issued and fully paid -

penuh - 383.331.363 saham 1,16,17 90.198.298 90.198.298 1,16,17 383,331,363 shares

Agio saham 18 14.945.090 14.945.090 18 Additional paid-in capital

Differences arising from

Selisih nilai transaksi restructuring transaction

restrukturisasi entitas among entities under

sepengendali 2f,3 6.267.821 - 2f,3 common control

Selisih kurs karena penjabaran Differences arising from foreign

laporan keuangan 2b,19 (37.270.381) (35.526.856) 2b,19 currency translations

Saldo laba 20 20 Retained earnings

Cadangan umum 4.984.972 4.884.972 General reserve

Belum ditentukan penggunaannya 42.257.639 42.646.983 Unappropriated

JUMLAH EKUITAS 121.383.439 117.148.487 TOTAL SHAREHOLDERS’ EQUITY

JUMLAH KEWAJIBAN TOTAL LIABILITIES AND

DAN EKUITAS 274.228.664 309.020.746 SHAREHOLDERS’ EQUITY

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PENJUALAN BERSIH 2b,2f,2o,2p, 2b,2f,2o,2p, NET SALES

21,25a,26 299.307.372 296.827.031 21,25a,26

BEBAN POKOK PENJUALAN 2b,2f,2j,2m, 2b,2f,2j,2m, COST OF GOODS SOLD

2o,2p,7,9, 2o,2p,7,9,

22,24,25b 253.941.430 249.420.883 22,24,25b

LABA KOTOR 45.365.942 47.406.148 GROSS PROFIT

BEBAN USAHA 2j,2p,9,23 2j,2p,9,23 OPERATING EXPENSES

Umum dan administrasi 2m,24 17.991.077 14.181.004 2m,24 General and administrative

Penjualan 9.795.744 8.972.736 Selling

Jumlah beban usaha 27.786.821 23.153.740 Total operating expenses

LABA USAHA 2o,26 17.579.121 24.252.408 2o,26 INCOME FROM OPERATIONS

PENGHASILAN (BEBAN)

LAIN-LAIN 2p 2p OTHER INCOME (CHARGES)

Laba kurs, bersih 2n 3.146.457 6.201.977 2n Gain on foreign exchange, net

Penghasilan bunga 2c,2d,2f, 2c,2d,2f, Interest income

4,5,25c 1.112.587 2.892.581 4,5,25c

Laba pembelian kembali Gain on buy-back of

hutang obligasi 16 640.403 - 16 bonds payable

Beban keuangan, bersih 2q,11,15,16, 2q,11,15,16, Financing costs, net

29a,29b (15.285.870) (8.636.645) 29a,29b

Lain-lain, bersih 2b,2f,2j,2l, 2b,2f,2j,2l, Miscellaneous, net

9,13,16 (605.007) (68.632) 9,13,16

Penghasilan (beban)

lain-lain, bersih (10.991.430) 389.281 Other income (charges), net

LABA SEBELUM BEBAN INCOME BEFORE INCOME

PAJAK PENGHASILAN 2o,13,26 6.587.691 24.641.689 2o,13,26 TAX EXPENSE

BEBAN PAJAK PENGHASILAN 2r,13 2r,13 INCOME TAX EXPENSE

Tahun berjalan 5.841.403 8.048.202 Current

Tangguhan, bersih (3.483.861) (1.631.048) Deferred, net

Beban pajak penghasilan, bersih 2.357.542 6.417.154 Income tax expense, net

INCOME BEFORE MINORITY

INTERESTS IN NET LOSSES

(EARNINGS) OF SUBSIDIARIES AND

LABA SEBELUM HAK MINORITAS NET LOSSES OF

ATAS RUGI (LABA) BERSIH PT WIRANUSA GRAHATAMA

ANAK PERUSAHAAN DAN RUGI PRIOR TO RESTRUCTURING

BERSIH PT WIRANUSA GRAHATAMA TRANSACTION AMONG

SEBELUM RESTRUKTURISASI ENTITIES UNDER COMMON

ENTITAS SEPENGENDALI 4.230.149 18.224.535 CONTROL

MINORITY INTERESTS IN NET

HAK MINORITAS ATAS RUGI (LABA) LOSSES (EARNINGS) OF

BERSIH ANAK PERUSAHAAN 350.316 (963.347) SUBSIDIARIES

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NET LOSSES OF

PT WIRANUSA GRAHATAMA

RUGI BERSIH PT WIRANUSA PRIOR TO RESTRUCTURING

GRAHATAMA SEBELUM TRANSACTION AMONG

RESTRUKTURISASI ENTITAS ENTITIES UNDER

SEPENGENDALI 2f,3 384.074 244.213 2f,3 COMMON CONTROL

LABA BERSIH 2o,26 4.964.539 17.505.401 2o,26 NET INCOME

LABA BERSIH PER SAHAM DASAR 2s 0,013 0,046 2s BASIC EARNINGS PER SHARE

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

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

Differences Selisih Kurs

Arising from karena

Restructuring Penjabaran

Modal Transactions Laporan

Ditempatkan among Keuangan/ Saldo Laba/Retained Earnings Dan Disetor Entities under Differences Jumlah Penuh/ Agio Saham/ Common Arising from Belum Ekuitas/

Issued and Additional Control Foreign Cadangan Ditentukan Total Fully Paid Paid-in (As Restated - Currency Umum/ Penggunaannya/ Shareholders’

Catatan Share Capital Capital Note 3) Translations General Reserve Unappropriated Equity Notes

Saldo 1 Januari 2004 (Disajikan kembali) 3 90.198.298 14.945.090 - (35.183.458 ) 4.784.972 27.468.932 102.213.834 3 Balance, January 1, 2004 (As restated)

Selisih kurs karena penjabaran laporan Differences arising from foreign currency

keuangan (Disajikan kembali) 2b,3,19 - - - (343.398 ) - - (343.398) 2b,3,19 translations (As restated)

Cadangan umum 20 - - - - 100.000 (100.000) - 20 Appropriation for general reserve

Dividen kas 20 - - - - - (2.227.350) (2.227.350) 20 Distribution of cash dividends

Laba bersih tahun 2004 3 - - - - - 17.505.401 17.505.401 3 Net income for 2004

Saldo 31 Desember 2004 (Disajikan kembali) 3 90.198.298 14.945.090 - (35.526.856) 4.884.972 42.646.983 117.148.487 3 Balance, December 31, 2004 (As restated)

Selisih kurs karena penjabaran laporan Differences arising from foreign currency

keuangan 2b,19 - - - (1.743.525 ) (1.743.525) 2b,19 translations

Selisih nilai transaksi restrukturisasi Differences arising from restructuring transactions

entitas sepengendali 2f,3 - - 6.267.821 - - 6.267.821 2f,3 among entities under common control

Cadangan umum 20 - - - - 100.000 (100.000) - 20 Appropriation for general reserve

Dividen kas 20 - - - - - (5.253.883) (5.253.883) 20 Distribution of cash dividends

Laba bersih tahun 2005 - - - - - 4.964.539 4.964.539 Net income for 2005

Saldo 31 Desember 2005 90.198.298 14.945.090 6.267.821 (37.270.381) 4.984.972 42.257.639 121.383.439 Balance, December 31, 2005

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(Disajikan

Kembali -

Catatan 3/

As Restated -

ARUS KAS DARI AKTIVITAS CASH FLOWS FROM

OPERASI OPERATING ACTIVITIES

Penerimaan dari pelanggan 332.290.408 332.850.629 Receipts from customers

Pembayaran untuk Payments for

Pembelian dari pemasok (254.184.409) (278.225.667) Purchases from suppliers

Gaji dan kesejahteraan Salaries and other employees’

karyawan lainnya (21.224.259) (18.837.901) benefits

Kas yang diperoleh dari operasi 56.881.740 35.787.061 Cash from operations Penerimaan penghasilan bunga 4,5 1.220.344 2.761.352 4,5 Interest income received

Penerimaan tagihan pajak Proceeds from claims for

penghasilan 13 490.544 490.115 13 income tax refund

Pembayaran pajak

pertambahan nilai (16.384.269) (21.047.107) Payments of value-added taxes

Pembayaran beban bunga dan Payments of interest expense

beban keuangan lainnya 11,15,16 (10.385.535) (11.313.052) 11,15,16 and other financing charges Pembayaran pajak penghasilan 13 (7.592.511) (6.608.898) 13 Payments of income taxes

Pembayaran beban operasi Payments for other operating

lainnya, bersih (4.811.807) (4.039.864) expenses, net

Kas bersih yang diperoleh Net cash provided by

dari (digunakan untuk) (used in) operating

aktivitas operasi 2o,26 19.418.506 (3.970.393) 2o,26 activities

INVESTASI INVESTING ACTIVITIES

Penerimaan dari pencairan Proceeds from redemption of

investasi jangka pendek 5 37.813.007 28.443.453 5 short-term investments

Penerimaan dari penjualan Proceeds from sale of property

aktiva tetap 9 152.417 49.106 9 and equipment

Penempatan pada investasi Placements in short-term

jangka pendek 5 (20.265.440) (29.294.298) 5 investments

Additions to property, plant

Perolehan aktiva tetap 9 (14.496.500) (4.442.510) 9 and equipment

Penambahan investasi dalam

Anak Perusahaan 1c (1.035.513) - 1c Additional investment in Subsidiary

Uang muka kepada pemasok Advances to suppliers of

proyek debottlenecking 28b - (962.925) 28b debottlenecking project

Pembayaran untuk aktivitas Payment for other investing

investasi lainnya, bersih (37.897) - activities, net

Kas bersih yang diperoleh Net cash provided by

dari (digunakan untuk) (used in) investing

untuk aktivitas investasi 2o,26 2.130.074 (6.207.174) 2o,26 activities

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Kembali -

Catatan 3/

As Restated -

PENDANAAN FINANCING ACTIVITIES

Penerimaan dari hutang bank Proceeds from short-term bank

jangka pendek 11 45.140.588 30.852.240 11 loans

Penerimaan dari cross currency Proceeds from cross currency

interest rate swap 29a 5.110.040 3.998.485 29a interest rate swap

Pelunasan hutang bank Repayments of short-term bank

jangka pendek 11 (58.390.588) (20.578.428) 11 loans

Pelunasan hutang bank Repayments of long-term

jangka panjang 15,16 (7.676.838) (13.227.580) 15,16 bank loans

Pembayaran dividen kas 20 (5.044.243) (2.657.222) 20 Payments of cash dividends

Pembelian kembali hutang Buy-back of bonds payable

obligasi 16 (4.081.906) - 16

Pembayaran untuk cross currency Payments of cross currency

interest rate swap 29a (2.868.735) (1.511.419) 29a interest rate swap

Peningkatan jumlah hutang kepada

pemegang saham - 348.807 Proceeds from shareholder

Pembayaran hutang kepada pihak yang

mempunyai hubungan istimewa - (320.688) Payment to related parties

Pembayaran aktivitas Payments for other financing

pendanaan lainnya, bersih (28.264) (1.095.540) activities, net

Kas bersih yang digunakan untuk Net cash used in

aktivitas pendanaan 2o,26 (27.839.946) (4.191.345) 2o,26 financing activities

Pengaruh perubahan kurs Net effect of changes in

terhadap kas dan setara kas exchange rate on cash and

serta selisih kurs karena cash equivalents and

penjabaran laporan differences arising from

keuangan, bersih 2b,2n (304.563) 193.554 2b,2n foreign currency translations

PENURUNAN BERSIH NET DECREASE IN

KAS DAN SETARA KAS (6.595.929) (14.175.358) CASH AND CASH EQUIVALENTS

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS

AWAL TAHUN 4 13.467.265 27.642.623 4 AT BEGINNING OF YEAR

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS

AKHIR TAHUN 4 6.871.336 13.467.265 4 AT END OF YEAR

Kas dan setara kas akhir tahun Cash and Cash equivalents

terdiri dari: at end of year consist of:

Kas dan bank 3.039.802 5.233.822 Cash on hand and in banks

Deposito berjangka 3.831.534 8.970.978 Time deposits

4 6.871.336 14.204.800 4

Cerukan 11 - (737.535) 11 Overdraft

Jumlah 6.871.336 13.467.265 Total

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a. Pendirian Perusahaan a. Establishment of the Company PT Unggul Indah Cahaya Tbk. (Perusahaan)

didirikan di Republik Indonesia dalam rangka Undang-undang Penanaman Modal Asing No. 1, Tahun 1967, yang diubah dengan Undang-undang No. 11 Tahun 1970, berdasarkan Akta Notaris Budiarti Karnadi, S.H., No. 12 tanggal 7 Februari 1983, yang diubah dengan akta notaris yang sama No. 33 tanggal 13 Mei 1983. Akta pendirian beserta perubahannya tersebut disahkan oleh Menteri Kehakiman dalam Surat Keputusan No. C2-4129-HT.01.01.

Th’83 tanggal 30 Mei 1983 serta diumumkan dalam Berita Negara Republik Indonesia No. 43, Tambahan No. 801 tanggal 28 Mei 1985. Anggaran Dasar Perusahaan telah mengalami beberapa kali perubahan, terakhir dengan Akta Notaris Benny Kristianto, S.H., No. 8 tanggal 3 November 2000 mengenai peningkatan modal ditempatkan dan disetor penuh Perusahaan, yang telah dilaporkan kepada Menteri Kehakiman dan Hak Asasi Manusia sebagaimana tercantum dalam Surat No. C-16147 HT.01.04.Th.2001 tanggal 30 Oktober 2001 serta telah diumumkan dalam Berita Negara Republik Indonesia No. 83, Tambahan No. 751 tanggal 17 Oktober 2003.

PT Unggul Indah Cahaya Tbk. (the Company) was established in the Republic of Indonesia within the framework of the Foreign Capital Investment Law No. 1, Year 1967, as amended by Law No. 11, Year 1970, based on Notarial Deed No. 12 dated February 7, 1983 of Budiarti Karnadi, S.H., as amended by Notarial Deed No. 33 dated May 13, 1983 of the same notary. The deed of establishment and its amendment were approved by the Ministry of Justice in its Decision Letter No. C2-4129-HT.01.01.Th’83 dated May 30, 1983, and was published in State Gazette No. 43, Supplement No. 801 dated May 28, 1985. The Company’s Articles of Association has been amended from time to time, the most recent amendment of which was covered by Notarial Deed No. 8 dated November 3, 2000 of Benny Kristianto, S.H., concerning the increase of the Company’s issued and fully paid capital, which were reported to the Ministry of Justice and Human Rights as stated in its Letter No. C-16147 HT.01.04.Th.2001 dated October 30, 2001, and was published in State Gazette No. 83, Supplement No. 751 dated October 17, 2003.

Berdasarkan Pasal 3 Anggaran Dasar Perusahaan, ruang lingkup kegiatan Perusahaan antara lain mencakup bidang usaha industri bahan kimia alkylbenzene dan kegiatan usaha terkait lainnya, jasa angkutan darat dan penampungan barang impor, konstruksi real estat serta penyewaan ruang perkantoran. Saat ini, Perusahaan terutama bergerak dalam industri bahan kimia alkylbenzene, yang merupakan bahan baku utama pembuatan deterjen.

Perusahaan berkedudukan di Jakarta, sedangkan pabriknya berlokasi di Merak, Banten. Kantor Pusat Perusahaan beralamat di Wisma UIC, Jl. Jend. Gatot Subroto, Kav. 6-7, Jakarta.

As stated in Article 3 of its Articles of Association, the Company’s scope of activities consists of, among others, manufacture of alkylbenzene chemicals and other related business activities, land transportation services and operations of entrepot, constructions of property, and rental of office spaces. Currently, the Company is primarily engaged in the manufacture of alkylbenzene chemicals, which is the main raw material for the production of detergents. The Company is domiciled in Jakarta, while its plant facilities are located in Merak, Banten. The Company’s registered office address is Wisma UIC, Jl. Jend. Gatot Subroto, Kav. 6-7, Jakarta.

Perusahaan mulai beroperasi secara

komersial pada bulan November 1985. The Company started its commercial operations in November 1985.

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b. Penawaran umum dan tindakan Perusahaan yang mempengaruhi modal saham yang ditempatkan dan disetor penuh

b. Public offerings and corporate actions affecting issued and fully paid share capital

Tindakan Perusahaan yang mempengaruhi modal saham yang ditempatkan dan disetor penuh sejak tanggal penawaran umum perdana sampai dengan tanggal 31 Desember 2005 adalah sebagai berikut:

The Company’s corporate actions affecting issued and fully paid share capital from the date of its initial public offering up to December 31, 2005, are as follows:

Tanggal/Date

Tindakan Perusahaan/

Nature of Corporate Actions

Saham Ditempatkan dan

Disetor Penuh/

Number of Shares Issued and Fully Paid

Nilai Nominal per Saham/

Par Value per Share 28 September 1989/

September 28, 1989

Penawaran umum perdana sejumlah 9.000.000 saham./

Initial public offering of 9,000,000 shares.

60.000.000 Rp1.000

28 Mei 1990/

May 28, 1990

Dividen saham dengan ketentuan satu (1) saham baru untuk setiap sepuluh (10) saham yang dimiliki./

Stock dividends which entitled each shareholder to receive one (1) new share for every ten (10) existing shares held.

66.000.000 Rp1.000

8 Juni 1994/

June 8, 1994

Dividen saham dengan ketentuan satu (1) saham baru untuk setiap delapan (8) saham yang dimiliki; dan konversi agio saham sebesar Rp57,75 miliar menjadi 57.750.000 saham dengan ketentuan tujuh (7) saham baru untuk setiap delapan (8) saham yang dimiliki./

Stock dividends which entitled each shareholder to receive one (1) new share for every eight (8) existing shares held; and conversion of additional paid-in capital amounting to Rp57.75 billion to 57,750,000 shares which entitled each shareholder to receive seven (7) new shares for every eight (8) existing shares held.

132.000.000 Rp1.000

12 April 1995/

April 12, 1995

145.200.028 Rp1.000

25 Juni 1997/

June 25, 1997

Penurunan nilai nominal saham dari Rp1.000 per saham menjadi Rp500 per saham (pemecahan saham)./

Decrease in par value per share from Rp1,000 to Rp500 (stock split).

290.400.056 Rp500

18 Mei 1999/

May 18, 1999

Dividen saham dengan ketentuan satu (1) saham baru untuk setiap lima (5) saham yang dimiliki./

Stock dividends which entitled each shareholder to receive one (1) new share for every five (5) existing shares held.

348.481.474 Rp500

20 Juni 2000/

June 20, 2000

383.331.363 Rp500