Dssa Lkt Des 2011

PT DIAN SWASTATIKA SENTOSA Tbk DAN ANAK PERUSAHAAN/AND ITS SUBSIDIARIES DAFTAR ISI/TABLE OF CONTENTS Halaman/ Page Surat Pernyataan Direksi tentang Tanggung Jawab atas Laporan Keuangan Konsolidasian

PT Dian Swastatika Sentosa Tbk dan Anak Perusahaan pada tanggal 31 Desember 2011 dan 2010 dan 1 Januari 2010/31 Desember 2009 serta untuk Tahun-tahun yang Berakhir pada Tanggal 31 Desember 2011 dan 2010/

The Directors Statement on the Responsibility for Consolidated Financial Statements of PT Dian Swastatika Sentosa Tbk and Its Subsidiaries as of December 31, 2011 and 2010, and January 1, 2010/December 31, 2009 and for the Years Ended December 31, 2011 and 2010

Laporan Auditor Independen/Independent Auditors Report 1 LAPORAN KEUANGAN KONSOLIDASIAN - Pada tanggal 31 Desember 2011 dan 2010

dan 1 Januari 2010/31 Desember 2009 serta untuk tahun-tahun yang berakhir pada tanggal 31 Desember 2011 dan 2010/

CONSOLIDATED FINANCIAL STATEMENTS- As of December 31, 2011 and 2010 and January 1, 2010/December 31, 2009 and for the years ended December 31, 2011 and 2010

Laporan Posisi Keuangan Konsolidasian/Consolidated Statements of Financial Position 3 Laporan Laba Rugi Konsolidasian/Consolidated Statements of Income 5 Laporan Laba Rugi Komprehensif Konsolidasian/Consolidated Statements of Comprehensive Income

6

Laporan Perubahan Ekuitas Konsolidasian/Consolidated Statements of Changes in Equity 7

Laporan Arus Kas Konsolidasian/Consolidated Statements of Cash Flows 8 Catatan atas Laporan Keuangan Konsolidasian/Notes to Consolidated Financial Statements 9

PT DIAN SWASTATIKA SENTOSA Tbk DAN ANAK PERUSAHAAN PT DIAN SWASTATIKA SENTOSA Tbk AND ITS SUBSIDIARIES Laporan Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position 31 Desember 2011 dan 2010 dan 1 Januari 2010/31 Desember 2009 December 31, 2011 and 2010 and January 1, 2010/December 31, 2009

1 Januari 2010/31 Desember 2009/January 1, 2010/

Catatan/Notes 2011 2010 December 31, 2009

US$ US$ US$

ASET ASSETS

ASET LANCAR CURRENT ASSETSKas dan setara kas 2e,2f,2h,2j,5,28,39,40 481.385.444 68.784.724 28.637.634 Cash and cash equivalentsInvestasi jangka pendek 2e,2f,2i,2j,6,28,39,40 10.367.214 5.190.197 - Short-term investmentsPiutang usaha 2e,2j,7,20,24,26,28,40 Trade accounts receivable

Pihak berelasi setelah dikurangi penyisihan Related parties - net of allowance piutang ragu-ragu sebesar for doubtful accounts of US$ 799.419, US$ 785.544, dan nihil US$ 799,419, US$ 785,544 and nil as ofmasing-masing pada tanggal December 31, 2011 and 2010, and31 Desember 2011 dan 2010, dan January 1, 2010/December 31, 2009, 1 Januari 2010/31 Desember 2009 2f,39 78.898.747 56.946.158 123.688.490 respectively

Pihak ketiga - setelah dikurangi penyisihan Third parties - net of allowance for doubtful accounts piutang ragu-ragu sebesar of US$ 224,849, US$ 232,663, and US$ 224,638US$ 224.849, US$ 232.663, dan US$ 224.638 as of December 31, 2011 and 2010, andmasing-masing pada tanggal 31 Desember 2011 January 1, 2010/31 December 2009,dan 2010, dan 1 Januari 2010/31 Desember 2009 46.535.124 30.171.148 16.430.803 respectively

Piutang lain-lain 2e,2j,8,28,40 Other receivablesPihak berelasi 2f,39 541.132 775.914 - Related partiesPihak ketiga 41 26.044.593 4.943.095 2.359.704 Third parties

Persediaan 2f,2k,9,20,26,39 57.520.854 35.915.804 45.700.419 InventoriesUang muka 10,41 30.424.211 12.971.030 6.796.349 AdvancesPajak dibayar dimuka 2x 2.276.735 3.725.620 4.113.072 Prepaid taxesBiaya dibayar dimuka 2f,2m,11,39 4.863.621 6.322.545 4.120.913 Prepaid expensesDana yang dibatasi pencairannya 26 57.344.508 - - Restricted fund

Jumlah Aset Lancar 796.202.183 225.746.235 231.847.384 Total Current Assets

ASET TIDAK LANCAR NONCURRENT ASSETSPiutang usaha jangka panjang - pihak berelasi 2e,2f,2j,26,28,39,40 15.904.028 17.656.296 18.615.744 Long-term trade accounts receivable - a related partyPiutang dari pihak berelasi 2e,2f,2j - - 818.934 Due from related partiesBiaya dibayar dimuka jangka panjang 2m,11 5.310.363 18.244.903 16.454.970 Long-term prepaid expensesTaksiran tagihan pajak 2x,37 9.103.102 14.307.372 12.143.626 Estimated claims for tax refundInvestasi saham 2f,2j,2l,12,28,39,40 47.138.999 15.271.166 21.196.738 Investments in shares of stocksInvestasi obligasi konversi 2j,13,28,40,41 73.114.224 - - Investment in convertible bondAset pajak tangguhan 2x,37 4.566.851 2.844.030 285.715 Deferred tax assetsProperti investasi - setelah dikurangi

akumulasi penyusutan sebesar Investment properties - net of accumulated depreciation US$ 172.942, US$ 11.034.572, dan US$ 6.762.302 of US$ 172,942, US$ 11,034,572, and US$ 6,762,302masing-masing pada tanggal 31 Desember 2011 2f,2n,2t,14,26, as of December 31, 2011 and 2010, and dan 2010, dan 1 Januari 2010/31 Desember 2009 33,34,39,41 4.548.486 68.040.683 71.387.624 January 1, 2010/December 31, 2009, respectively

Aset tetap - setelah dikurangi Property, plant, and equipment - net of akumulasi penyusutan sebesar accumulated depreciation of US$ 215.055.518, US$ 198.785.159, dan US$ 215,055,518, US$ 198,785,159, and US$ 181.606.449 masing-masing pada tanggal US$ 181,606,449 as of December 31, 2011 and 2010, 31 Desember 2011 dan 2010, dan 1 Januari 2010/ 2f,2o,2p,2t,15,20, and January 1, 2010/December 31, 2009,31 Desember 2009 26,27,34,35,39 253.606.744 248.230.064 257.044.300 respectively

Properti pertambangan - setelah dikurangi Mining properties - net of accumulated amortization akumulasi amortisasi sebesar of US$ 1,723,013, US$ 999,075, US$ 591,216 US$ 1.723.013, US$ 999.075, dan US$ 591.216 as of December 31, 2011 and 2010, andmasing-masing pada tanggal 31 Desember 2011 January 1, 2010/December 31, 2009,dan 2010, dan 1 Januari 2010/31 Desember 2009 2r,16 6.627.246 7.537.016 3.457.803 respectively

Biaya pengupasan tanah yang ditangguhkan 2q,2t,17 10.118.757 4.376.786 1.017.019 Deferred stripping costsBiaya eksplorasi dan pengembangan yang Deferred exploration and development costs -

ditangguhkan - setelah dikurangi net of accumulated amortization ofakumulasi amortisasi sebesar US$ 4,583,897, US$ 3,445,353, and US$ 4.583.897, US$ 3.445.353, dan US$ 2.426.500 US$ 2,426,500 as of December 31, 2011 andmasing-masing pada tanggal 31 Desember 2011 dan 2010, January 1, 2010/December 31, 2009,2010, dan 1 Januari 2010/31 Desember 2009 2q,2t,18 35.890.204 26.912.604 14.337.818 respectively

Aset tidak lancar lain-lain 2e,2f,2j,2r,19,28,35,39,40,41 21.627.773 15.947.229 3.672.549 Other noncurrent assets

Jumlah Aset Tidak Lancar 487.556.777 439.368.149 420.432.840 Total Noncurrent Assets

JUMLAH ASET 1.283.758.960 665.114.384 652.280.224 TOTAL ASSETS

Lihat catatan atas laporan keuangan konsolidasian yang merupakan See accompanying notes to consolidated financial statements bagian yang tidak terpisahkan dari laporan keuangan konsolidasian. which are an integral part of the consolidated financial statements.

31 Desember / December 31

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PT DIAN SWASTATIKA SENTOSA Tbk DAN ANAK PERUSAHAAN PT DIAN SWASTATIKA SENTOSA Tbk AND ITS SUBSIDIARIES Laporan Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position 31 Desember 2011 dan 2010 dan 1 Januari 2010/31 Desember 2009 December 31, 2011 and 2010 and January 1, 2010/December 31, 2009

1 Januari 2010/31 Desember 2009January 1, 2010/

Catatan/Notes 2011 2010 December 31, 2009

US$ US$ US$

LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS LIABILITIES

LIABILITAS JANGKA PENDEK CURRENT LIABILITIES Pinjaman bank jangka pendek 2e,2j,7,9,15,19,20,28,40 26.223.743 21.619.285 30.559.650 Short-term bank loansUtang usaha 2e,2j,21,28,40 Trade accounts payable

Pihak berelasi 2f,39 7.397.003 11.000.784 20.358.500 Related partiesPihak ketiga 76.095.574 35.356.156 56.489.292 Third parties

Utang lain-lain 2e,2j,22,28,40 Other accounts payable Pihak berelasi 2f,39 428.014 301.343 - Related partiesPihak ketiga 4.474.649 11.233.062 13.900.648 Third parties

Uang muka dari pelanggan 2f,39 6.217.684 3.138.439 10.104.597 Advances from customers Pendapatan diterima dimuka 2f,2u - 565.439 954.811 Unearned revenuesUtang pajak 2x,23,37 23.047.266 2.830.897 2.083.670 Taxes payableLiabilitas anjak piutang 2e,2f,2j,7,24,25,28,39,40 1.000.000 1.000.000 1.531.915 Factoring payableBiaya yang masih harus dibayar 2e,2f,2j,20,24,25,26,28,39,40,41 10.771.861 6.424.659 4.239.348 Accrued expensesLiabilitas jangka panjang yang akan

jatuh tempo dalam waktu satu tahun: 2e,2f,28,39,40 Current portion of long-term liabilities:Pinjaman bank dan lembaga keuangan 2j,7,9,14,15,26 84.187.568 31.348.626 23.052.573 Loans payable to bank and financial institutionsSewa pembiayaan 2p,15,27 1.104.174 89.988 58.319 Lease liabilities

Jumlah Liabilitas Jangka Pendek 240.947.536 124.908.678 163.333.323 Total Current Liabilities

LIABILITAS JANGKA PANJANG NONCURRENT LIABILITIES Liabilitas pajak tangguhan 2x,37 21.604.658 25.252.946 29.278.259 Deferred tax liabilitiesUtang kepada pihak berelasi 2e,2f,2j - - 157.596 Due to related partiesUang muka pelanggan - - 170.583 Advances from customers Goodwill negatif - bersih 2c - 144.455 134.962 Negative goodwill - net Cadangan imbalan pasti pasca-kerja 2e,2w,36,40 6.051.476 5.034.432 3.963.375 Defined post-employment benefits reserveLiabilitas jangka panjang lainnya 2e,2z,40 1.623.417 - - Other noncurrent liabilitiesLiabilitas jangka panjang - setelah dikurangi

bagian yang akan jatuh tempodalam waktu satu tahun: 2e,2f,28,39,40 Long-term liabilities - net of current portion:Pinjaman bank dan lembaga keuangan 2j,7,9,14,15,26 100.921.287 174.002.387 118.525.581 Loans payable to bank and financial institutionsSewa pembiayaan 2p,15,27 1.471.456 31.241 202.709 Lease liabilities

Obligasi konversi 2e,2j - - 5.360.000 Convertible bonds

Jumlah Liabilitas Jangka Panjang 131.672.294 204.465.461 157.793.065 Total Noncurrent Liabilities

JUMLAH LIABILITAS 372.619.830 329.374.139 321.126.388 TOTAL LIABILITIES

EKUITAS EQUITY Ekuitas yang Dapat Diatribusikan kepada Equity Attributable to Owners

Pemilik Entitas Induk of the CompanyModal saham - nilai nominal Rp 250 per saham Capital stock - Rp 250 par value per share

Modal dasar - 2.400.000.000 saham Authorized - 2,400,000,000 sharesModal ditempatkan dan disetor - 770.552.320 saham 29 72.498.628 72.498.628 72.498.628 Issued and paid-up - 770,552,320 shares

Tambahan modal disetor - bersih 2s,30 12.650.332 12.650.332 12.650.332 Additional paid-in capital - netSelisih transaksi perubahan kepemilikan Difference arising from change in ownership

pada anak perusahaan 4 428.558.420 - - interests in subsidiariesSelisih nilai transaksi restrukturisasi Difference in value of restructuring transactions

entitas sepengendali 2d (3.020.568) (3.020.568) - among entities under common controlKeuntungan (kerugian) yang belum direalisasi Unrealized gain (loss) on increase (decline)

atas kenaikan (penurunan) nilai investasi 2j,12 4.301.855 (8.151.793) - in value of investmentsSelisih kurs penjabaran 2e (1.790.174) 576.591 278.172 Foreign currency translation adjustmentEkuitas proforma dari transaksi Proforma equity arising from restructuring transaction

restrukturisasi entitas sepengendali - - 8.828.663 among entities under common controlSaldo laba Retained earnings

Telah ditentukan penggunaannya 31 200.000 100.000 - AppropriatedBelum ditentukan penggunaannya 294.258.662 260.888.851 236.737.574 Unappropriated

807.657.155 335.542.041 330.993.369Kepentingan Nonpengendali 2c,2d,32,46 103.481.975 198.204 160.467 Noncontrolling Interests

JUMLAH EKUITAS 911.139.130 335.740.245 331.153.836 TOTAL EQUITY

JUMLAH LIABILITAS DAN EKUITAS 1.283.758.960 665.114.384 652.280.224 TOTAL LIABILITIES AND EQUITY


31 Desember / December 31

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PT DIAN SWASTATIKA SENTOSA Tbk DAN ANAK PERUSAHAAN PT DIAN SWASTATIKA SENTOSA Tbk AND ITS SUBSIDIARIES Laporan Laba Rugi Konsolidasian Consolidated Statements of Income Untuk Tahun-tahun yang Berakhir 31 Desember 2011 dan 2010 For the Years Ended December 31, 2011 and 2010

2011 Catatan/Notes 2010

US$ US$

PENDAPATAN USAHA 591.244.128 2f,2u,14,33,39,41 364.137.473 REVENUES

BEBAN POKOK PENJUALAN 462.025.988 2f,2u,14,15,34,39,41 294.193.427 COST OF REVENUES

LABA BRUTO 129.218.140 69.944.046 GROSS PROFIT

Laba penjualan properti investasi Gain on sale of investment properties dan aset tetap 12.462.586 2u,14,15 1.676.514 and property, plant, and equipment

Pendapatan bunga 6.707.391 2u 950.365 Interest incomeBeban eksplorasi (562.335) 2u,35 (150.760) Exploration costsKerugian penurunan nilai wajar Loss on decline in fair value of

dari aset keuangan (3.019.433) 2u,2j,13 - financial assetKeuntungan (kerugian) selisih kurs

mata uang asing - bersih (5.485.660) 2e,2u 133.389 Loss on foreign exchange - net Beban bunga dan keuangan lainnya (18.515.406) 2u (19.735.811) Interest expense and other financial chargesBeban penjualan (30.867.512) 2u,2f,15,35,39 (17.190.799) Selling expensesBeban umum dan administrasi (42.288.117) 2f,2q,2w,15,35,36,39,41 (20.195.778) General and administrative expensesBeban lain-lain - bersih (4.658.088) 2r,2u (568.289) Other expenses - net

LABA SEBELUM PAJAK 42.991.566 14.862.877 INCOME BEFORE TAX

BEBAN (PENGHASILAN) PAJAK 2x,37 TAX EXPENSE (BENEFIT) Kini 15.334.958 2.259.354 Current TaxTangguhan (5.452.667) (6.430.512) Deferred Tax

Beban (Penghasilan) Pajak - Bersih 9.882.291 (4.171.158) Tax Expense (Benefit) - Net

LABA SEBELUM RUGI PRA INCOME BEFORE PRE-ACQUISITION LOSSES AKUISISI ANAK PERUSAHAAN 33.109.275 19.034.035 OF A SUBSIDIARY

RUGI PRA AKUISISI ANAK PERUSAHAAN - 2d,4 5.230.069 PRE-ACQUISITION LOSSES OF A SUBSIDIARY

LABA BERSIH TAHUN BERJALAN 33.109.275 24.264.104 NET INCOME FOR THE YEAR

Laba (rugi) bersih yang dapat diatribusikan kepada: Net income (loss) attributable to:Pemilik entitas induk 33.325.356 24.251.277 Owners of the CompanyKepentingan nonpengendali (216.081) 2c 12.827 Noncontrolling interests

33.109.275 24.264.104

LABA BERSIH PER SAHAM DASAR DIATRIBUSIKAN KEPADA BASIC EARNINGS PER SHARE ATTRIBUTABLE PEMILIK ENTITAS INDUK 0,043 2y,38 0,031 TO OWNERS OF THE COMPANY


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PT DIAN SWASTATIKA SENTOSA Tbk DAN ANAK PERUSAHAAN PT DIAN SWASTATIKA SENTOSA Tbk AND ITS SUBSIDIARIES Laporan Laba Rugi Komprehensif Konsolidasian Consolidated Statements of Comprehensive Income Untuk Tahun-tahun yang Berakhir 31 Desember 2011 dan 2010 For the Years Ended December 31, 2011 and 2010

2011 Catatan/Notes 2010

US$ US$

LABA BERSIH TAHUN BERJALAN 33.109.275 24.264.104 NET INCOME FOR THE YEAR

PENDAPATAN (RUGI) KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME (LOSS) Foreign exchange differences arising from

Selisih kurs atas penjabaran laporan keuangan (2.623.187) 2e 304.086 financial statements translationKeuntungan (kerugian) yang belum direalisasi Unrealized gain (loss) on increase (decline)

atas kenaikan (penurunan) nilai investasi 12.453.648 2j,12 (8.151.793) in value of investments

LABA KOMPREHENSIF TAHUN BERJALAN 42.939.736 16.416.397 COMPREHENSIVE INCOME DURING THE YEAR

Laba (rugi) komprehensif yang dapatdiatribusikan kepada: Comprehensive income (loss) attributable to:Pemilik entitas induk 43.412.239 16.397.903 Owners of the CompanyKepentingan nonpengendali (472.503) 2c,32 18.494 Noncontrolling interests

42.939.736 16.416.397


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PT DIAN SWASTATIKA SENTOSA Tbk DAN ANAK PERUSAHAAN PT DIAN SWASTATIKA SENTOSA Tbk AND ITS SUBSIDIARIESLaporan Perubahan Ekuitas Konsolidasian Consolidated Statements of Changes in EquityUntuk Tahun-tahun yang Berakhir 31 Desember 2011 dan 2010 For the Years Ended December 31, 2011 and 2010

Kepentingan Nonpengendali

Ekuitas Proforma Proforma dari Selisih Selisih Keuntungan dari Transaksi Transaksi

Transaksi Nilai Transaksi (Kerugian) Restrukturisasi Restrukturisasi Perubahan Restrukturisasi yang belum Entitas Entitas

Kepemilikan Entitas Direalisasi atas Sepengendali/ Sepengendali/Pada Sepengendali/ Keuntungan Performa Equity Noncontrolling

Anak Perusahaan/ Difference in Value (Penurunan) Nilai Arising from Interests From Difference Arising of Restructuring Investasi/ Selisih Kurs Restructuring Restructuring

Tambahan from Change in Transactions Unrealized Gain Penjabaran/ Transactions Kepentingan Transactions Modal Disetor/ Ownership Among Entities (Loss) on Increase Foreign Currency Among Telah Ditentukan Belum Ditentukan Nonpengendali/ Among

Catatan/ Modal Saham/ Additional Interests in Under Common (Decline) in Value Translation Entities Under Penggunaannya/ Penggunaannya/ Jumlah/ Noncontrolling Entities Under Jumlah Ekuitas/Notes Capital Stock Paid-in Capital Subisdiaries Control of Investments Adjustment Common Control Appropriated Unappropriated Total Interests Common Control Total Equity

US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$

Saldo pada tanggal 1 Januari 2010 72.498.628 12.650.332 - - - 278.172 8.828.663 - 236.737.574 330.993.369 116.471 43.996 331.153.836 Balance as of January 1, 2010

Ekuitas proforma dari transaksi restrukturisasi Proforma equity arising from restructuring entitas sepengendali 2d - - - - - - (8.828.663) - - (8.828.663) - (43.996) (8.872.659) transactions among entities under common control

Pencadangan saldo laba 31 - - - - - - - 100.000 (100.000) - - - - Appropriation of retained earnings

Akuisisi saham dari Acquisition of shares fromkepentingan nonpengendali 1c - - - - - - - - - - (333) - (333) noncontrolling interest

Kepentingan nonpengendali dari Noncontrolling interests arising from kombinasi bisnis 1c - - - - - - - - - - 63.572 - 63.572 business combination

Selisih nilai transaksi restrukturisasi Difference in value of restructuring transactionentitas sepengendali 2d - - - (3.020.568) - - - - - (3.020.568) - - (3.020.568) among entities under common control

Jumlah laba komprehensif 2e,2j,12,46 - - - - (8.151.793) 298.419 - - 24.251.277 16.397.903 18.494 - 16.416.397 Total comprehensive income

Saldo pada tanggal 31 Desember 2010 72.498.628 12.650.332 - (3.020.568) (8.151.793) 576.591 - 100.000 260.888.851 335.542.041 198.204 - 335.740.245 Balance as of December 31, 2010

Saldo pada tanggal 1 Januari 2011 72.498.628 12.650.332 - (3.020.568) (8.151.793) 576.591 - 100.000 260.888.851 335.542.041 198.204 - 335.740.245 Balance as of January 1, 2011

Penghentian pengakuan goodwill negatif Derecognition of negative goodwill in accordance sesuai ketentuan transisi PSAK No. 22 with transition provision of PSAK No. 22 (Revisi 2010), kombinasi bisnis 2b,2c - - - - - - - - 144.455 144.455 - - 144.455 (Revised 2010), bussines combination

Saldo pada tanggal 1 Januari 2011 setelah Balance as of January 1, 2011 afterpenyesuaian 72.498.628 12.650.332 - (3.020.568) (8.151.793) 576.591 - 100.000 261.033.306 335.686.496 198.204 - 335.884.700 adjustment

Pencadangan saldo laba 31 - - - - - - - 100.000 (100.000) - - - - Appropriation of retained earnings

Akuisisi saham dari Acquisition of shares fromkepentingan nonpengendali 1c - - - - - - - - - - (111) - (111) noncontrolling interest

Dividen anak perusahaan kepadakepentingan nonpengendali - - - - - - - - - - (118.810) - (118.810) Dividend of subsidiaries to noncontrolling interests

Setoran modal saham darikepentingan nonpengendali 4 - - - - - - - - - - 244.961.993 - 244.961.993 Paid-up capital from noncontrolling interests

Selisih transaksi perubahan kepemilikan Difference arising from change in ownership pada anak perusahaan 2c,4 - - 428.558.420 - - - - - - 428.558.420 (141.086.798) - 287.471.622 interests in subsidiaries

Jumlah laba komprehensif 2e,2j,12 - - - - 12.453.648 (2.366.765) - - 33.325.356 43.412.239 (472.503) - 42.939.736 Total comprehensive income

Saldo pada tanggal 31 Desember 201 72.498.628 12.650.332 428.558.420 (3.020.568) 4.301.855 (1.790.174) - 200.000 294.258.662 807.657.155 103.481.975 - 911.139.130 Balance as of December 31, 2011


Saldo Laba/Retained Earnings

Ekuitas yang Dapat Diatribusikan Kepada Pemilik Entitas Induk/Equity Attributable to the Owners of the Company

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PT DIAN SWASTATIKA SENTOSA Tbk DAN ANAK PERUSAHAAN PT DIAN SWASTATIKA SENTOSA Tbk AND ITS SUBSIDIARIES Laporan Arus Kas Konsolidasian Consolidated Statements of Cash Flows Untuk Tahun-tahun yang Berakhir 31 Desember 2011 dan 2010 For the Years Ended December 31, 2011 and 2010

2011 2010

US$ US$

ARUS KAS DARI AKTIVITAS OPERASI CASH FLOWS FROM OPERATING ACTIVITIES Penerimaan dari pelanggan 557.257.350 238.099.953 Cash receipts from customersPembayaran kepada kontraktor, pemasok dan lainnya (489.903.059) (185.301.959) Cash paid to contractors, suppliers and othersPembayaran kepada karyawan (19.316.676) (12.825.404) Cash paid to employees

Kas diperoleh dari operasi 48.037.615 39.972.590 Net cash generated from operations

Penerimaan (pembayaran) pajak - bersih 3.612.210 (1.369.175) Cash receipt (paid) from tax - net

Kas Bersih Diperoleh dari Aktivitas Operasi 51.649.825 38.603.415 Net Cash Provided by Operating Activities

ARUS KAS DARI AKTIVITAS INVESTASI CASH FLOWS FROM INVESTING ACTIVITIES Perolehan investasi jangka pendek (4.901.836) (5.168.336) Placement in short-term investmentsPenerimaan bunga 6.380.738 889.186 Interest receivedPenempatan dana yang

dibatasi pencairannya (57.344.508) - Placement of restricted fundPerolehan investasi saham (21.269.701) (2.223.533) Acquisition of investment in shares of stockArus kas pada tanggal akuisisi setelah dikurangi Cash flows for acquisition, net of cash

saldo kas anak perusahaan - (10.233.068) balance of subsidiariesPenerimaan dividen 49.432 24.734 Dividends receivedPerolehan properti investasi (9.140.729) (122.628) Acquisition of investment propertiesHasil penjualan properti investasi - 89.593 Proceeds from sale of investment propertiesPerolehan aset tetap (40.203.947) (14.178.643) Acquisition of property, plant, and equipmentHasil penjualan aset tetap 14.920.022 7.382.447 Proceeds from sale of property, plant and equipmentKenaikan aset tidak lancar (25.225.748) (3.075.193) Increase in noncurrent assets

Kas Bersih Digunakan untuk Aktivitas Investasi (136.736.277) (26.615.441) Net Cash Used in Investing Activities

ARUS KAS DARI AKTIVITAS PENDANAAN CASH FLOWS FROM FINANCING ACTIVITIES Penerimaan pinjaman bank 23.450.782 103.898.068 Proceeds from bank loansSetoran modal saham dari kepentingan nonpengendali 239.146.332 - Paid-up capital from noncontrolling interestsPenerimaan atas penjualan investasi saham 293.402.804 - Cash receipts from sale of investment in shares of stockPembayaran: Payments of:

Pinjaman bank dan lembaga keuangan (38.682.617) (45.163.285) Loans payable to bank and financial institutionsLiabilitas anjak piutang - (556.112) Factoring payableLiabilitas sewa pembiayaan (844.569) (26.347) Lease liabilitiesObligasi konversi - (6.650.000) Convertible bondsBunga dan beban keuangan lainnya (18.241.216) (16.737.403) Interest and other financial charges

Dividen anak perusahaan yang dibayarkan kepada kepentingan nonpengendali (118.810) - Dividend of subsidiaries paid to noncontrolling interest

Kas Bersih Diperoleh dari Aktivitas Pendanaan 498.112.706 34.764.921 Net Cash Provided by Financing Activities

KENAIKAN BERSIH KAS DAN SETARA KAS 413.026.254 46.752.895 NET INCREASE IN CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS AT THE BEGINNING KAS DAN SETARA KAS AWAL TAHUN 68.784.724 28.637.634 OF THE YEARPengaruh perubahan kurs mata uang asing (425.534) 585.282 Effect of foreign exchange rate changesPengaruh penyesuaian proforma dari transaksi Effect of proforma adjustment arising from restructuring

restrukturisasi entitas sepengendali - (7.191.087) transaction among entities under common control

KAS DAN SETARA KAS AKHIR TAHUN 481.385.444 68.784.724 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR

PENGUNGKAPAN TAMBAHAN SUPPLEMENTAL DISCLOSURES Aktivitas investasi dan pendanaan yang Noncash investing and financing activities:

tidak mempengaruhi kas dan setara kasPerolehan investasi obligasi konversi melalui Acquisition of investment in convertible bond through sale

penjualan properti investasi dan aset tetap 76.581.253 - of investment properties and property, plant, and equipmentPerolehan aset tetap melalui sewa pembiayaan 3.147.183 - Acquisition of property, plant, and equipment through finance leases

Reclassification of other noncurrent assets to property, plant, Reklasifikasi aset tidak lancar lainnya ke aset tetap 150.588 - and equipment


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PT DIAN SWASTATIKA SENTOSA Tbk DAN ANAK PERUSAHAAN Catatan atas Laporan Keuangan Konsolidasian 31 Desember 2011 and 2010 serta untuk Tahun-tahun yang Berakhir pada Tanggal Tersebut

PT DIAN SWASTATIKA SENTOSA Tbk AND ITS SUBSIDIARIES

Notes to Consolidated Financial Statements December 31, 2011 and 2010 and

For the Years then Ended

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1. Umum 1. General a. Pendirian dan Informasi Umum a. Establishment and General Information

PT Dian Swastatika Sentosa Tbk (Perusahaan) didirikan berdasarkan Akta No. 6 tanggal 2 Agustus 1996 dari Linda Herawati, S.H., notaris di Jakarta, yang kemudian diubah dengan Akta Perubahan No. 35 tanggal 8 Oktober 1996 dari notaris yang sama. Akta pendirian dan perubahannya telah disahkan oleh Menteri Kehakiman Republik Indonesia (sekarang Menteri Hukum dan Hak Asasi Manusia Republik Indonesia) dalam Surat Keputusan No. C2-9854.HT.01.01.TH.96 tanggal 28 Oktober 1996 serta diumumkan dalam Berita Negara Republik Indonesia No. 46 tanggal 10 Juni 1997, Tambahan No. 2258.

PT Dian Swastatika Sentosa Tbk (the Company) was established on August 2, 1996 based on Notarial Deed No. 6 and was amended by Notarial Deed No. 35 dated October 8, 1996, both of Linda Herawati, S.H., public notary in Jakarta. The Deed of Establishment and amendments were approved by the Ministry of Justice of the Republic of Indonesia (currently the Ministry of Law and Human Rights of the Republic of Indonesia) in its Decision Letter No. C2-9854.HT.01.01.TH.96 dated October 28, 1996 and was published in the State Gazette of the Republic of Indonesia No. 46 dated June 10, 1997, Supplement No. 2258.

Anggaran Dasar Perusahaan telah beberapa kali mengalami perubahan, termasuk penyesuaian Anggaran Dasar Perusahaan terhadap Undang-Undang Republik Indonesia No. 40 Tahun 2007 tentang Perseroan Terbatas pada tahun 2008/2009, pelaksanaan penawaran umum perdana saham (IPO) dan perubahan status Perusahaan menjadi Perseroan Terbatas Terbuka pada tahun 2009, dan perubahan yang terakhir berdasarkan Surat Keputusan Para Pemegang Saham PT Dian Swastatika Sentosa yang didokumentasikan dalam Akta No. 55 tanggal 28 Agustus 2009 dari Linda Herawati, S.H., notaris di Jakarta, mengenai perubahan maksud dan tujuan serta kegiatan usaha Perusahaan sebagaimana tercantum dalam pasal 3 Anggaran Dasar Perusahaan meliputi penyediaan listrik, perdagangan besar, jasa dan pembangunan perumahan dan infrastruktur. Perubahan Anggaran Dasar Perusahaan yang terakhir telah disetujui oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-42753.AH.01.02.Tahun 2009 tanggal 1 September 2009.

The Articles of Association have been amended several times, including the revisions in the Companys entire Articles of Association to be in accordance with the Provisions of Republic of Indonesia Law No. 40 Year 2007 regarding Limited Liability Company in 2008/2009, the Initial Public Offering (IPO) and the change in the Companys status to be a Listed Company in 2009, and the latest based on the Decision Letter of the Stockholders of PT Dian Swastatika Sentosa documented in Notarial Deed No. 55, dated August 28, 2009 of Linda Herawati, S.H., public notary in Jakarta, in accordance with article 3 of the Companys Articles of Association, the scope of its activities was changed to engage mainly in generation of electricity and steam, trading, services and real estate and infrastucture. Latest amendment of the Companys Articles of Association was approved by the Ministry of Law and Human Rights of the Republic Indonesia in its Decision Letter No. AHU-42753.AH.01.02. Tahun 2009 dated September 1, 2009.

Perusahaan mulai beroperasi secara komersial pada tahun 1998. Perusahaan berkantor pusat di Jakarta, sedangkan pembangkit tenaga listrik dan uap berlokasi di Tangerang, Serang dan Karawang.

The Company started its commercial activities in 1998. The Companys domicile is in Jakarta, while its power plants are in Tangerang, Serang and Karawang.

Dalam laporan keuangan konsolidasian, Perusahaan dan anak perusahaan secara bersama-sama disebut sebagai Grup.

In the consolidated financial statements, the Company and its subsidiaries are collectively referred to as the Group.

Perusahaan tergabung dalam kelompok usaha Sinarmas.

The Company operates under the Sinarmas group of business.





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b. Penawaran Umum Efek Perusahaan b. Public Offering of Shares Pada tanggal 30 November 2009, Perusahaan memperoleh pernyataan efektif dari Ketua Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam dan LK) melalui surat No. S-10344/BL/2009 untuk penawaran umum perdana atas 100.000.000 saham Perusahaan dengan nilai nominal Rp 250 per saham kepada masyarakat dan telah dicatatkan pada Bursa Efek Indonesia pada tanggal 10 Desember 2009.

On November 30, 2009, the Company obtained the Notice of Effectivity from the Chairman of the Capital Market and Financial Institutions Supervisory Agency (Bapepam-LK) in his Letter No. S-10344/BL/2009 for its offering to the public of 100,000,000 shares at Rp 250 per share. On December 10, 2009, all of these shares were listed in the Indonesia Stock Exchange.

Pada tanggal 31 Desember 2011 dan 2010, seluruh saham Perusahaan atau sejumlah 770.552.320 saham telah tercatat di Bursa Efek Indonesia.

As of December 31, 2011 and 2010, all of the Companys shares totaling to 770,552,320 shares are listed in the Indonesia Stock Exchange.

c. Anak Perusahaan yang Dikonsolidasikan c. Consolidated Subsidiaries

Perusahaan mempunyai penyertaan saham, baik secara langsung maupun tidak langsung pada anak-anak perusahaan berikut ini:

The Companys subsidiaries owned directly or indirectly are as follows:

TahunOperasi

Komersial/Start of

Domisili/ Jenis Usaha/ CommercialDomicile Nature of Business Operations 2011 2010 2011 2010

% % US$ US$Pemilikan Langsung/Direct Ownership:

PT Golden Energy Mines Tbk (GEM) Jakarta Perdagangan batubara/ 2010 66,999 99,999 366.155.923 124.265.375Coal trading

PT Rolimex Kimia Nusamas (RKN) Jakarta Perdagangan/Trading 1989 99,504 99,504 93.051.835 60.160.480

PT Bumi Kencana Eka Sejahtera (BKES) Jakarta Perdagangan batubara/ 2011 99,998 99,998 55.926.637 7.794.986 Coal trading

PT DSSP Power Sumsel (DSSP) Jakarta Penyediaan tenaga listrik/ - 98,350 - 7.608.352 -Generation of electricity

PT Buana Bumi Energi (BBE) Jakarta Penyediaan tenaga listrik/ - 99,900 - 24.471 -Generation of electricity

Pemilikan Tidak Langsung/Indirect Ownership:

PT Roundhill Capital Indonesia (RCI) Jakarta Penyertaan saham/ - 67,325 99,999 83.335.032 46.992.194(melalui/through GEM) Holding company

PT Borneo Indobara (BORNEO) Jakarta Pertambangan batubara/ 2005 66,699 99,070 82.789.264 46.870.571 (melalui/through RCI) Coal mining

PT Kuansing Inti Makmur (KIM) Jambi Perdagangan dan 2005 66,998 99,998 55.400.977 29.175.415 (melalui/through GEM) eksplorasi batubara/

Trading and coal exploration

PT Bara Harmonis Batang Asam (BHBA) Jambi Pertambangan batubara/ 2010 66,999 99,998 33.951.344 5.336.186 (melalui/through KIM) Coal mining

PT Citra Alam Indah (CAI) Jakarta Perdagangan besar/ 2011 99,998 99,806 27.406.402 949.680 (melalui/through BKES) Trading

PT Karya Cemerlang Persada (KCP) Jakarta Pertambangan batubara/ 2011 66,998 99,998 16.020.134 2.437.242 (melalui/through KIM) Coal mining

Kepemilikan Efektif/Effective Ownership

(Sebelum Eliminasi)/

Anak Perusahaan/Subsidiary

Jumlah Aset

Total Assets Interest (Before Elimination)





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TahunOperasi

Komersial/Start of

Domisili/ Jenis Usaha/ CommercialDomicile Nature of Business Operations 2011 2010 2011 2010

% % US$ US$

PT Trisula Kencana Sakti (TKS) Kalimantan Pertambangan batubara/ 2008 46,899 69,999 13.793.211 7.992.367 (melalui/through GEM) Tengah/ Coal mining

CentralKalimantan

PT Tanjung Belit Bara Utama (TBBU) Jambi Pertambangan batubara/ - 66,998 99,998 9.106.627 349.453 (melalui/through KCP) Coal mining

PT Manggala Alam Lestari (MAL) Jakarta Pertambangan batubara/ - 67,002 99,998 3.756.398 3.796.600(melalui/through GEM) Coal mining

PT Nusantara Indah Lestari (NIL) Jakarta Pertambangan batubara/ 2005 99,998 99,998 3.274.868 3.356.127(melalui/through BKES) Coal mining

PT Nusa Indah Permai (NIP) Sumatera Pertambangan batubara/ - 67,005 99,998 895.761 1.003.656 (melalui/through MAL) Selatan/ Coal mining

South Sumatera

PT Wahana Alam Lestari (WAL) Jakarta Pertambangan batubara/ 2007 99,998 99,998 561.508 554.115 (melalui/through BKES) Coal mining

PT Bungo Bara Utama (BBU) Jambi Pertambangan batubara/ - 66,998 99,998 314.215 24.240 (melalui/through KIM) Coal mining

PT Berkat Nusantara Permai (BNP) Jakarta Pertambangan batubara/ - 66,998 99,998 244.225 54.265 (melalui/through KIM) Coal mining

Kepemilikan Efektif/Effective Ownership

(Sebelum Eliminasi)/

Anak Perusahaan/Subsidiary

Jumlah Aset

Total Assets Interest (Before Elimination)

GEM GEM GEM didirikan berdasarkan Akta No. 81 tanggal 13 Maret 1997 dari Imam Santoso, S.H., notaris di Jakarta. Akta pendirian ini telah disahkan oleh Menteri Kehakiman Republik Indonesia (sekarang Menteri Hukum dan Hak Asasi Manusia Republik Indonesia) dalam Surat Keputusan No. C2-7.922HT.01.01. TH.98 tanggal 30 Juni 1998 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 30 tanggal 12 April 2002, Tambahan No. 3667.

GEM was established based on Deed No. 81 dated March 13, 1997 of Imam Santoso, S.H., public notary in Jakarta. The Deed of Establishment was approved by the Ministry of Justice of the Republic of Indonesia (currently the Ministry of Law and Human Rights of the Republic of Indonesia) in its Decision Letter No. C2-7.922HT.01.01. TH.98 dated June 30, 1998 and was published in the State Gazette of the Republic of Indonesia No. 30 dated April 12, 2002, Supplement No. 3667.

Berdasarkan Akta No. 56 tanggal 20 Juli 2010 dan No. 74 tanggal 22 Oktober 2010, keduanya dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham GEM menyetujui untuk meningkatkan modal ditempatkan dan disetor dari Rp 48.802.000.000 menjadi Rp 228.802.000.000 dan selanjutnya menjadi Rp 500.000.000.000 yang diambil bagian seluruhnya oleh Perusahaan. Kepemilikan langsung Perusahaan dalam GEM pada tahun 2010 sebesar 99,999%.

Based on Deeds No. 56 dated July 20, 2010 and No. 74 dated October 22, 2010, both of Hannywati Gunawan, S.H., public notary in Jakarta, the shareholders of GEM agreed to increase its issued and paid-up capital from Rp 48,802,000,000 to Rp 228,802,000,000 and further to Rp 500,000,000,000 which were all acquired by the Company. The Companys direct ownership interest in GEM in 2010 was 99.999%.

Pada tanggal 9 November 2011, GEM memperoleh pernyataan efektif dari Ketua Bapepam-LK untuk melakukan penawaran umum saham perdana sebanyak 882.353.000 saham seharga Rp 2.500 per saham kepada masyarakat.

On November 9, 2011, GEM obtained the Notice of Effectivity from the Chairman of Bapepam-LK for its offering to the public of 882,353,000 shares at Rp 2,500 per share.





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Berdasarkan Akta No. 31 tanggal 9 November 2011 dari Linda Herawati, S.H., notaris di Jakarta, para pemegang saham Perusahaan menyetujui rencana penjualan saham GEM kepada GMR Infrastructure Investments (Singapore) Pte. Ltd. (GMR Singapura) sebanyak 1.058.823.500 saham dengan harga sebesar Rp 2.500 per saham. Perusahaan telah melakukan penjualan saham tersebut melalui bursa pada tanggal 17 November 2011. Kepemilikan Perusahaan atas saham GEM setelah transaksi penjualan saham kepada GMR Singapura dan penawaran umum saham perdana GEM mengalami penurunan dari 99,999% menjadi 66,999%.

Based on Deed No. 31 dated November 9, 2011 of Linda Herawati, S.H., public notary in Jakarta, the Companys stockholders have agreed to the plan to sell the Companys investment in shares of GEM to GMR Infrastructure Investments (Singapore) Pte. Ltd. (GMR Singapore) totaling to 1,058,823,500 shares with selling price of Rp 2,500 per share. The Company sold such shares through stock exchange on November 17, 2011. The Companys ownership in shares of GEM after the sale of shares transaction to GMR Singapore and GEMs initial public offering decreased from 99.999% to 66.999%.

Pada tanggal 4 Februari 2011, berdasarkan Keputusan Menteri Energi dan Sumber Daya Mineral No. 206.K/30/DJB/2011, GEM memperoleh Ijin Usaha Pertambangan Operasi Produksi Khusus untuk Pengangkutan dan Penjualan Batubara untuk jangka waktu 3 (tiga) tahun dan dapat diperpanjang.

On February 4, 2011, based on the Decision of the Ministry of Energy and Mineral Resource No. 206.K./30/DJB/2011, GEM obtained Particular License of IUP Operation Production for Transportation and Trade of Coal which is valid for three (3) years and can be extended.

RKN RKN

RKN didirikan berdasarkan Akta No. 80 tanggal 14 April 1947 yang dibuat oleh notaris Meester Karel Eduard Krijgsman. Akta pendirian ini telah disahkan oleh Direktur Van Justitie dalam Surat Keputusan No. J.A./5/8/25 tanggal 15 Juli 1947 dan telah diumumkan dalam Javasche Courant tanggal 15 Juli 1947, Tambahan No. 55.

RKN was established based on Deed No. 80 dated April 14, 1947 of Meester Karel Eduard Krijgsman. The Deed of Establishment was approved by the Director of Van Justitie in its Decision Letter No. J.A./5/8/25 dated July 15, 1947 and was published in the Javasche Courant dated July 15, 1947, Supplement No. 55.

Berdasarkan Akta No. 193 tanggal 23 Desember 2010 dari Linda Herawati, S.H., notaris di Jakarta, Perusahaan mengakuisisi 77.314.710 saham RKN atau sebesar 99,504% kepemilikan dari PT Menara Madju, entitas sepengendali.

Based on Deed No. 193 dated December 23, 2010 of Linda Herawati, S.H., public notary in Jakarta, the Company acquired from PT Menara Madju, an entity under common control, 77,314,710 shares of RKN or equivalent to 99.504% ownership interest.

BKES BKES BKES didirikan berdasarkan Akta No. 1 tanggal 8 November 2010 dengan nama PT Bangun Prakarsa Terus Jaya dari Herlianti, S.H., notaris di Tangerang. Akta pendirian ini disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-55936.AH.01.01 Th 2010 tanggal 29 November 2010 .

BKES was established based on Deed No. 1 dated November 8, 2010 under the name PT Bangun Prakarsa Terus Jaya of Herlianti, S.H., public notary in Tangerang. The Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-55936.AH.01.01 Th 2010 dated November 29, 2010.





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Berdasarkan Akta No. 81 dan 82 tanggal 20 Desember 2010 dari Hannywaty Gunawan, S.H., notaris di Jakarta, Perusahaan mengakuisisi 50 saham dan 49 saham BKES masing-masing dari Nurlaela dan Wahyuningsih, pihak ketiga, yang merupakan 99,000% kepemilikan saham.

Based on Deeds No. 81 and 82 dated December 20, 2010 of Hannywati Gunawan, S.H., public notary in Jakarta, the Company acquired 50 shares and 49 shares in BKES from Nurlaela and Wahyuningsih, third parties, respectively, representing a total of 99.000% ownership interest.

Berdasarkan Akta No. 80 tanggal 20 Desember 2010 dari notaris yang sama, para pemegang saham BKES menyetujui peningkatan modal ditempatkan dan disetor dari Rp 100.000.000 menjadi Rp 47.340.000.000 yang diambil bagian seluruhnya oleh Perusahaan, sehingga meningkatkan kepemilikan Perusahaan pada BKES dari 99,000% menjadi 99,998%.

Based on Deed No. 80 datedDecember 20, 2010 from the same public notary, the shareholders of BKES agreed to increase its issued and paid up capital from Rp 100,000,000 to Rp 47,340,000,000 which were all acquired by the Company, thus, increasing the Companys ownership in BKES from 99.000% to 99.998%.

DSSP DSSP

DSSP didirikan berdasarkan Akta No. 45 tanggal 23 Agustus 2011 dari Linda Herawati, S.H., notaris di Jakarta. Akta pendirian ini telah disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-44363.AH.01.01.Tahun 2011 tanggal 9 September 2011. DSSP didirikan oleh Perusahaan dan GEM dengan modal dasar sebesar Rp 10.000.000.000 yang terdiri dari 10.000 saham dengan nilai nominal sebesar Rp 1.000.000 per saham serta modal ditempatkan dan disetor sebesar Rp 2.500.000.000. Perusahaan dan GEM memiliki kepemilikan dalam DSSP masing-masing sebesar 95,000% dan 5,000%.

DSSP was established based on DeedNo. 45 on August 23, 2011 of Linda Herawati, S.H., public notary in Jakarta. The Deed of Establishment and amendment thereto was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-44363.AH.01.01.Tahun 2011 dated September 9, 2011. DSSP was established by the Company and GEM with authorized capital amounting to Rp 10,000,000,000 consisting of 10,000 shares with nominal value of Rp 1,000,000 per share, and issued and paid up capital amounting to Rp 2,500,000,000. The Company and GEM have ownership interest in DSSP of 95.000% and 5.000%, respectively.

BBE BBE BBE didirikan berdasarkan Akta No. 1 tanggal 1 Desember 2011 dari Linda Herawati, S.H., notaris di Jakarta. Akta pendirian ini telah disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-61235.AH.01.01. Tahun 2011 tanggal 13 Desember 2011. BBE didirikan oleh Perusahaan dan PT Sinar Mas Tunggal (SMT), pihak berelasi, dengan modal dasar sebesar Rp 1.000.000.000 yang terdiri dari 4.000 saham dengan nilai nominal sebesar Rp 250.000 per saham serta modal ditempatkan dan disetor sebesar Rp 250.000.000. Perusahaan dan SMT memiliki kepemilikan dalam BBE masing-masing sebesar 99,900% dan 0,100%.

BBE was established based on Deed No. 1 on December 1, 2011 of Linda Herawati, S.H., public notary in Jakarta. The Deed of Establishment and amendment thereto was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-61235.AH.01.01.Tahun 2011 dated December 13, 2011 and BBE was established by the Company and PT Sinar Mas Tunggal (SMT), a related party, with authorized capital amounting to Rp 1,000,000,000 consisting of 4,000 shares with nominal value of Rp 250,000 per share, and issued and paid up capital amounting to Rp 250,000,000. The Company and SMT have ownership interest in BBE of 99.900% and 0.100%, respectively.





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RCI RCI RCI didirikan berdasarkan Akta No. 65 tanggal 31 Januari 2003 dari Saal Bumela, S.H., notaris di Jakarta. Akta pendirian ini disahkan oleh Menteri Kehakiman Republik Indonesia (sekarang Menteri Hukum dan Hak Asasi Manusia Republik Indonesia) dalam Surat Keputusan No. C-27211.HT.01.01.TH.2004 tanggal 1 November 2004 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 3 tanggal 11 Januari 2005, Tambahan No. 295.

RCI was established based on Deed No. 65 dated January 31, 2003 of Saal Bumela, S.H., public notary in Jakarta. The Deed of Establishment was approved by the Ministry of Justice of the Republic of Indonesia (currently the Ministry of Law and Human Rights of the Republic of Indonesia) in its Decision Letter No. C-27211.HT.01.01.TH.2004 dated November 1, 2004 and was published in the State Gazette of the Republic of Indonesia No. 3 dated January 11, 2005, Supplement No. 295.

Berdasarkan Akta No. 58 tanggal 20 Juli 2010 dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham RCI menyetujui peningkatan modal dasar dari Rp 100.000.000.000 menjadi Rp 700.000.000.000 serta modal ditempatkan dan disetor dari Rp 85.064.000.000 menjadiRp 185.064.000.000 yang diambil bagian seluruhnya oleh GEM, sehingga kepemilikan GEM pada RCI meningkat dari 57,365% menjadi 80,403% sedangkan kepemilikan langsung Perusahaan pada RCI menurun dari 42,635% menjadi 19,597%.

Based on Deed No. 58 dated July 20, 2010 of Hannywati Gunawan, S.H., public notary in Jakarta, the shareholders of RCI agreed to increase its authorized capital from Rp 100,000,000,000 to Rp 700,000,000,000 and its issued and paid up capital from Rp 85,064,000,000 to Rp 185,064,000,000 which were all acquired by GEM, thus GEMs ownership interest increased from 57.365% to 80.403%, while the Companys direct ownership in RCI decreased from 42.635% to 19.597%.

Berdasarkan Akta No. 59 tanggal 15 April 2011 dari Deni Thanur, S.E., S.H., M.Kn, notaris di Jakarta, para pemegang saham RCI menyetujui antara lain perubahan klasifikasi saham RCI menjadi saham Seri A bernilai nominal Rp 1.000.000 dan saham Seri B bernilai nominal Rp 1.000 dan perubahan seluruh saham yang telah dikeluarkan menjadi saham Seri A serta peningkatan modal ditempatkan dan disetor dari Rp 185.064.000.000 terbagi atas 185.064 saham menjadi Rp 188.564.000.000 terbagi atas 185.064 saham Seri A dan 3.500.000 saham Seri B yang diambil bagian seluruhnya oleh GEM sebanyak Rp 3.500.000.000 terbagi atas 3.500.000 saham Seri B. Dengan peningkatan modal tersebut, kepemilikan GEM pada RCI meningkat dari 80,403% menjadi 99,016%, sedangkan kepemilikan langsung Perusahaan pada RCI menurun dari 19,597% menjadi 0,984%.

Based on Deed No. 59 dated April 15, 2011 of Deni Thanur, S.E., S.H. M.Kn, public notary in Jakarta, the shareholders of RCI agreed, among others, to change the classification of RCIs share into Series A share with nominal value per share of Rp 1,000,000 and Series B shares with nominal value per share of Rp 1,000 and to change all of the issued shares to Series A shares and increase the issued and paid up capital from Rp 185,064,000,000 consisting of 185,064 shares to Rp 188,564,000,000 consisting of 185,064 Series A shares and 3,500,000 Series B shares which were all acquired by GEM amounting to Rp 3,500,000,000 consisting of 3,500,000 Series B shares. Accordingly, with such an increase in the capital, GEMs ownership interest in RCI increased from 80.403% to 99.016%, while the Companys direct ownership in RCI decreased from 19.597% to 0.984%.





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BORNEO BORNEO BORNEO didirikan berdasarkan Akta No. 79 tanggal 21 Desember 1990 dari Bertha Suriati Ihalauw Halim, S.H., notaris di Banjarmasin, dan perubahannya dengan Akta No. 222 tanggal 26 Juni 1991 dari Mohamad Said Tadjoedin, S.H., notaris di Jakarta. Akta pendirian dan perubahannya telah disahkan oleh Menteri Kehakiman Republik Indonesia (sekarang Menteri Menteri Hukum dan Hak Asasi Manusia Republik Indonesia) dalam Surat Keputusan No. C2-12.173.HT.01.01.TH.94 tanggal 12 Agustus 1994 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 100 tanggal 16 Desember 1994, Tambahan No. 10406.

BORNEO was established based on Deed No. 79 dated December 21, 1990 of Bertha Suriati Ihalauw Halim, S.H., public notary in Banjarmasin, and its amendment based on Notarial Deed No. 222 dated June 26, 1991 of Mohamad Said Tadjoedin, S.H., public notary in Jakarta. The Deed of Establisment and its Amendment were approved by the Ministry of Justice of the Republic of Indonesia (currently the Minister Law and Human Rights of the Republic of Indonesia) in its Decision Letter No. C2-12.173.HT.01.01.TH.94 dated August 12, 1994 and was published in the State Gazette of the Republic of Indonesia No. 100 dated December 16, 1994, Supplement No. 10406.

Berdasarkan Akta No. 24 tanggal 6 Agustus 2010 dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham BORNEO menyetujui peningkatan modal dasar dari Rp 110.000.000.000 menjadi Rp 700.000.000.000 serta modal ditempatkan dan disetor dari Rp 85.613.000.000 menjadi Rp 185.613.000.000 atau meningkat sebesar Rp 100.000.000.000 yang diambil bagian seluruhnya oleh RCI, sehingga kepemilikan RCI pada BORNEO meningkat dari 97,982% to 99,070%.

Based on Deed No. 24 dated August 6, 2010 of Hannywati Gunawan, S.H., public notary in Jakarta, shareholders of BORNEO agreed to increase its authorized capital from Rp 110,000,000,000 to Rp 700,000,000,000 and its issued and paid up capital from Rp 85,613,000,000 to Rp 185,613,000,000 or an increase of Rp 100,000,000,000 which were all acquired by RCI accordingly, RCI ownership interest in BORNEO increased from 97.982% to 99.070%.

BORNEO memperoleh ijin Pengusahaan Pertambangan Batubara dari instansi-instansi berikut:

BORNEO obtained from the following its license to conduct coal mining activities:

1. Pemerintah Republik Indonesia diwakili oleh PT Tambang Batubara Bukit Asam (Persero) (PTBA) dalamPerjanjian Kerjasama Pengusahaan Pertambangan Batubara (PKP2B) No. 007/PK/PTBA-BI/1994 tanggal 15 Agustus 1994. Berdasarkan perubahan PKP2B antara PTBA dan BORNEO tanggal 27 Juni 1997, efektif sejak tanggal 1 Juli 1997 semua hak dan kewajiban PTBA dalam PKP2B beralih kepada Pemerintah Republik Indonesia yang diwakili oleh Menteri Energi dan Sumber Daya Mineral.

1. The Government of the Republic of Indonesia as represented by PT Tambang Batubara Bukit Asam (PTBA) (Persero) in Coal Contract of Work (CCoW) No. 007/PK/PTBA-BI/1994 dated August 15, 1994. Based on the changes in CCoW between PTBA and BORNEO dated June 27, 1997, effective July 1, 1997, all of the PTBA rights and obligations in CCoW have been transferred back to the Government of the Republic of Indonesia which was represented by the Ministry of Energy and Mineral Resources.

2. Keputusan Menteri Energi dan Sumber

Daya Mineral No. 10.K/40.00/DJB/2006 tanggal 17 Februari 2006 tentang Permulaan Tahap Kegiatan Produksi Perjanjian Kerjasama Pengusahaan Pertambangan Batubara seluas 24.100 hektar untuk jangka waktu 30 (tiga puluh) tahun.

2. Ministry of Energy and Mineral Resources in its Decision Letter No. 10.K/40.00/DJB/2006 dated February 17, 2006 which permits BORNEO to conduct its mining activities in accordance with CCoW within a parameter of 24,100 hectares of land for a period of thirty (30) years.





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KIM KIM KIM didirikan berdasarkan Akta No. 20 tanggal 20 Januari 2004 dari Dra. Butet, S.H., notaris di Padang. Akta pendirian ini disahkan oleh Menteri Kehakiman Republik Indonesia (sekarang Menteri Hukum dan Hak Asasi Manusia Republik Indonesia) dalam Surat Keputusan No. C-03598.HT.01.01.Th.2004 tanggal 13 Februari 2004, dan diumumkan dalam Berita Negara Republik Indonesia No. 22 tanggal 17 Maret 2009, Tambahan No. 7762.

KIM was established based on Deed No. 20 dated January 20, 2004 of Dra. Butet, S.H., public notary in Padang. The Deed of Establishment was approved by the Ministry of Justice of the Republic of Indonesia (currently the Ministry of Law and Human Rights of the Republic of Indonesia) in its Decision Letter No. C-03598.HT.01.01.Th.2004 dated February 13, 2004, and was published in the State Gazette of the Republic of Indonesia No. 22 dated March 17, 2009, Supplement No. 7762.

Berdasarkan Akta No. 14 tanggal 12 Oktober 2010 dari Deni Thanur, S.E., S.H., M.Kn., notaris di Jakarta, para pemegang saham KIM menyetujui peningkatan modal dasar dari Rp 20.000.000.000 menjadi Rp 200.000.000.000 dan modal ditempatkan dan disetor dari Rp 5.000.000.000 menjadi Rp 50.000.000.000 yang diambil bagian seluruhnya oleh GEM, sehingga kepemilikan GEM pada KIM meningkat dari 99,980% menjadi 99,998%.

Based on Deed No. 14 dated October 12, 2010 of Deni Thanur, S.E., S.H., M.Kn., public notary in Jakarta, the shareholders of KIM agreed to increase its authorized capital stock from Rp 20,000,000,000 to Rp 200,000,000,000 and its issued and paid up capital from Rp 5,000,000,000 to Rp 50,000,000,000 which were all acquired by GEM, thus, increasing ownership interest GEMs in KIM from 99.980% into 99.998%.

Dalam melaksanakan kegiatan pertambangannya, KIM telah memperoleh perijinan sebagai berikut:

In relation to its mining activities, KIM has obtained the following licenses:

Luas Area/ No. Surat Keputusan/ Masa Berlaku/

No. Ijin KP/Licenses Daerah/Location Area Decision Letter No. ValidityHektar/Hectare

1. IUP Operasi Produksi/ Kecamatan Jujuhan, 199 Keputusan Bupati Bungo/ 23 April 2010 s.d./up toProduction Operations Kabupaten Bungo, Decision of Bupati Bungo 22 April 2020

Provinsi/Province Jambi No. 251/DESDM Tahun 2010

2. IUP Operasi Produksi/ Kecamatan Jujuhan, Keputusan Bupati Bungo/ 23 April 2010 s.d./up toProduction Operations Kabupaten Bungo, Decision of Bupati Bungo 22 April 2018

Provinsi/Province Jambi No. 252/DESDM Tahun 2010

199

BHBA BHBA

BHBA didirikan berdasarkan Akta No. 30 tanggal 27 Mei 2008 dari Ahmad Yani, S.H., notaris di Muara Bungo. Akta pendirian ini disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-35632.AH.01.01.Tahun 2008 tanggal 25 Juni 2008 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 105 tanggal 31 Desember 2010, Tambahan No. 42904.

BHBA was established based on Deed No. 30 dated May 27, 2008 of Ahmad Yani, S.H., public notary in Muara Bungo. The Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-35632.AH.01.01.Tahun 2008 dated June 25, 2008 and was published in the State Gazette of the Republic of Indonesia No. 105 dated December, 31 2010, Supplement No. 42904.





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Berdasarkan Akta No. 30 tanggal 25 November 2010 dari Deni Thanur, S.E., S.H., M.Kn., notaris di Jakarta, para pemegang saham BHBA menyetujui penjualan 249 saham BHBA milik PT Andalan Satria Cemerlang, pihak ketiga, kepada KIM, dan 1 saham BHBA milik PT Persada Bangun Lestari, pihak ketiga, kepada GEM. Dengan pembelian saham tersebut, maka kepemilikan KIM pada BHBA menjadi 99,600%.

Based on Deed No. 30 dated November 25, 2010 of Deni Thanur, S.E., S.H., M.Kn., public notary in Jakarta, the shareholders of BHBA agreed to sell 249 shares of BHBA owned by PT Andalan Satria Cemerlang, a third party, to KIM and 1 share of BHBA owned by PT Persada Bangun Lestari, a third party, to GEM. Accordingly, KIMs ownership interest in BHBA became 99.600%.

Dalam melaksanakan kegiatan pertambangannya, BHBA telah memperoleh perijinan sebagai berikut:

In relation to its mining activities, BHBA has obtained a license with details as follows:



1. IUP Operasi Produksi/ Dusun Tanjung Belit, 172 Keputusan Bupati Bungo/ 23 April 2010 s.d./up toProduction Operations Kecamatan Jujuhan, Decision of Bupati Bungo 22 April 2016

Kabupaten Bungo, No. 247/DESDM/Tahun 2010Provinsi/Province Jambi

CAI CAI

CAI didirikan berdasarkan Akta No. 16 tanggal 8 September 2008 dari Deni Thanur, S.E., S.H., M.Kn., notaris di Jakarta. Akta pendirian ini disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-82240.AH.01.01.Tahun. 2008 tanggal 5 November 2008 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 18 tanggal 3 Maret 2009, Tambahan No. 6128.

CAI was established based on Deed No. 16 dated September 8, 2008 of Deni Thanur, S.E., S.H., M.Kn., public notary in Jakarta. The Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-82240.AH.01.01.Tahun.2008 dated November 5, 2008 and was published in the State Gazette of the Republic of Indonesia No. 18 dated March 3, 2009, Supplement No. 6128.

Berdasarkan Akta No. 129 tanggal 30 Desember 2010 dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham CAI menyetujui penjualan 14 saham CAI yang dimiliki oleh PT Cakrawala Dinamika Permai, pihak ketiga, kepada GEM dan 1 saham CAI yang dimiliki PT Persada Bangun Cemerlang Abadi, pihak ketiga, kepada SMC, pihak berelasi, serta peningkatan modal dasar dari Rp 50.000.000 menjadi Rp 2.000.000.000 dan modal ditempatkan dan disetor dari Rp 15.000.000 menjadi Rp 515.000.000, yang diambil bagian seluruhnya oleh GEM. Kepemilikan GEM dalam CAI adalah 99,806%.

Based on Deed No. 129 dated December 30, 2010 of Hannywati Gunawan, S.H., public notary in Jakarta, the shareholders of CAI agreed to sell 14 shares in CAI owned by PT Cakrawala Dinamika Permai, a third party, to GEM and 1 share in CAI owned by PT Persada Bangun Cemerlang Abadi, third party, to SMC, a related party, and to increase its authorized capital from Rp 50,000,000 to Rp 2,000,000,000 and its issued and paid up capital from Rp 15,000,000 to Rp 515,000,000 which were all acquired by GEM. Accordingly, GEMs effective ownership interest in CAI became 99.806%.





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Berdasarkan Akta No. 123 tanggal 24 Maret 2011 dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham CAI menyetujui penjualan 514 saham CAI yang dimiliki GEM kepada BKES, anak perusahaan, dan penjualan 1 saham CAI yang dimiliki SMC kepada Perusahaan, sehingga kepemilikan BKES dan Perusahaan dalam CAI masing-masing menjadi 99,806% dan 0,194%.

Based on Deed No. 123 dated March 24, 2011 of Hannywati Gunawan, S.H., public notary in Jakarta, the shareholders of CAI agreed to sell 514 shares in CAI owned by GEM to BKES, a subsidiary and 1 share in CAI owned by SMC to the Company. Accordingly, BKES and the Companys ownership interest in CAI became 99.806% and 0.194%, respectively.

KCP KCP

KCP didirikan berdasarkan Akta No. 10 tanggal 11 September 2007 dari Hanita Sentono, S.H., notaris di Jakarta. Akta pendirian ini disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. C-07481 HT.01.01 TH.2007 tanggal 27 Desember 2007 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 58 tanggal 18 Juli 2008, Tambahan No. 12392.

KCP was established based on Deed No. 10 dated September 11, 2007 of Hanita Sentono, S.H., public notary in Jakarta. The Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. C-07481 HT.01.01 TH.2007 dated December 27, 2007 and was published in the State Gazette of the Republic of Indonesia No. 58 dated July 18, 2008, Supplement No. 12392.

Berdasarkan Akta No. 26 tanggal 11 Mei 2010 dari Deni Thanur, S.E., S.H., M.Kn., notaris di Jakarta, KCP meningkatkan modal dasar dari Rp 50.000.000 menjadi Rp 20.000.000.000 dan modal ditempatkan dan disetor dari Rp 15.000.000 menjadi Rp 12.015.000.000 yang diambil bagian seluruhnya oleh KIM sebanyak 12.000 saham dengan nilai nominal sebesar Rp 1.000.000 per saham. Sehingga, KIM memiliki kepemilikan pada KCP sebesar 99,875%.

Based on Deed No. 26 dated May 11, 2010 of Deni Thanur, S.E, S.H., M.Kn., public notary in Jakarta, the shareholders of KCP agreed to increase its authorized capital from Rp 50,000,000 to Rp 20,000,000,000 and issued and paid up capital from Rp 15,000,000 to Rp 12,015,000,000 wherein 12,000 shares with nominal value per share of Rp 1,000,000 were all acquired by KIM, resulting to an ownership interest of KIM in KCP of 99.875%.

Berdasarkan Akta No. 28 tanggal 28 Juni 2010 dari Deni Thanur, S.E., S.H., M.Kn., notaris di Jakarta, para pemegang saham KCP menyetujui penjualan 14 saham dalam KCP yang dimiliki oleh PT Cakrawala Dinamika Permai, pihak ketiga, kepada KIM dan 1 saham dalam KCP yang dimiliki PT Persada Bangun Cemerlang Abadi, pihak ketiga, kepada GEM, sehingga kepemilikan KIM pada KCP meningkat dari 99,875% menjadi 99,992%.

Based on Deed No. 28 dated June 28, 2010 of Deni Thanur, S.E., S.H., M.Kn., public notary in Jakarta, the shareholders of KCP agreed to sell 14 shares in KCP owned by PT Cakrawala Dinamika Permai, a third party, to KIM and 1 share in KCP owned by PT Persada Bangun Cemerlang Abadi, a third party, to GEM, thus, increasing KIMs ownership interest in KCP from 99.875% to 99.992%

KCP telah memperoleh ijin pengusahaan pertambangan batubara sebagai berikut:

KCP has obtained a coal mining license with details as follows:



1. IUP Operasi Produksi/ Dusun Tanjung Belit, 143 Keputusan Bupati Bungo/ 22 Juli/July 2009 s.d/up Production Operations Kecamatan Jujuhan, Decision of Bupati Bungo 21 Juli/July 2019






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TKS TKS

TKS didirikan berdasarkan Akta No. 16 tanggal 21 September 2002 dari Gaby Siantori, S.H., notaris di Banjarmasin. Akta pendirian ini disahkan oleh Menteri Kehakiman dan Hak Asasi Manusia Republik Indonesia (sekarang Menteri Hukum dan Hak Asasi Republik Indonesia) dalam Surat Keputusan No. C-22648.HT.01.01.TH.2002 tanggal 18 November 2002 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 81 tanggal 10 Oktober 2003, Tambahan No. 9793.

TKS was established based on Deed No. 16 dated September 21, 2002 of Gaby Siantori, S.H., public notary in Banjarmasin. The Deed of Establishment was approved by the Ministry of Justice and Human Rights of the Republic of Indonesia (currently the Ministry of Law and Human Rights of the Republic of Indonesia) in its Decision Letter No. C-22648.HT.01.01. TH.2002 dated November 18, 2002 and was published in the State Gazette of the Republic of Indonesia No. 81 dated October 10, 2003, Supplement No. 9793.

Berdasarkan Akta Jual Beli Saham No. 111 tanggal 29 Juni 2010 dari Hannywati Gunawan, S.H., notaris di Jakarta, GEM mengakuisisi 350 saham TKS yang merupakan 70% kepemilikan dari PT Citra Persada Abadi, pihak ketiga.

Based on the Deed of Sale and Purchase of Shares No. 111 dated June 29, 2010 of Hannywati Gunawan, S.H., public notary in Jakarta, GEM acquired ownership interest of 70% or 350 shares of TKS from PT Citra Persada Abadi, a third party.

Dalam melaksanakan kegiatan pertambangannya, TKS telah memperoleh perijinan sebagai berikut:

In relation to its mining activities, TKS has obtained the following licenses:



1. IUP Operasi Produksi/ Desa Malateken, 4.748 Keputusan Bupati Barito Utara/ 26 April 2010 s.d./up toProduction Operations Gandring, Panaen, Liang Buah, Decision of Bupati - North Barito 25 April 2026

Kecamatan Teweh Tengah/Central No. 188.45/207/2010dan/and Teweh Timur/East ,

Kabupaten Barito Utara/North ,Provinsi/Province

Kalimantan Tengah/Central

2. IUP Operasi Produksi/ Desa Malateken 4.959 Keputusan Bupati Barito Utara/ 26 April 2010 s.d./up toProduction Operations Gandring dan/and Panaen, Decision of Bupati - North Barito 25 April 2028

Kecamatan Teweh Tengah/Central No. 188.45/208/2010dan/and Teweh Timur/East ,

Provinsi/Province Kalimantan Tengah/Central

3. IUP Operasi Produksi/ Desa Saing, Patung, Gandrung, 1.748 Keputusan Bupati Barito Timur/ 31 Desember/December 2009 Production Operations Kecamatan Dusun Tengah/Central Decision of Bupati - North Barito s.d./up to 13 Agustus/

dan/and Paku, No. 570 tahun/year 2009 August 2019Kabupaten Barito Timur/East ,

Provinsi/Province Kalimantan Tengah/Central

TBBU TBBU

TBBU didirikan berdasarkan Akta No. 6 tanggal 4 Agustus 2006 dari Suprayitno S.H., notaris di Muara Bungo. Akta pendirian ini disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. W20-00025 HT.01.01.TH. 2007 tanggal 8 Maret 2007 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 87 tanggal 29 Oktober 2010, Tambahan No. 36525.

TBBU was established based on Deed No.6 dated 4 Agustus 2006 of Suprayitno, S.H., public notary in Muara Bungo. The Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. W20-00025 HT.01.01TH.2007 dated March 8, 2007 and was published in the State Gazette of the Republic of Indonesia No. 87 dated October 29, 2010, Supplement No. 36525.





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Berdasarkan Akta No. 27 tanggal 11 Mei 2010 dari Deni Thanur S.E., S.H., M.Kn., notaris di Jakarta, pemegang saham TBBU menyetujui antara lain penjualan 1 saham TBBU yang dimiliki oleh PT Persada Bangun Cemerlang Abadi, pihak ketiga, kepada GEM. Kepemilikan KCP atas TBBU adalah 99,800%.

Based on Deed No. 27 dated May 11, 2010 from Deni Thanur, S.E., S.H., M.Kn., public notary in Jakarta, the shareholders of TBBU agreed to sell 1 share of TBBU owned by PT Persada Bangun Cemerlang Abadi, a third party, to GEM. The ownership interest of KCP in TBBU is 99.800%.

TBBU telah memperoleh ijin pengusahaan pertambangan batubara sebagai berikut:

TBBU has obtained a coal mining license with details as follows:



1. IUP Operasi Produksi/ Dusun Tanjung Belit, 198 Keputusan Bupati Bungo/ 23 April 2010 s.d./up toProduction Operations Kecamatan Jujuhan, Decision of Bupati Bungo 22 April 2018


MAL MAL MAL didirikan berdasarkan Akta No. 14 tanggal 27 Februari 2004 dari Yulia, S.H., notaris di Tangerang. Akta pendirian ini disahkan oleh Menteri Kehakiman Republik Indonesia (sekarang Menteri Hukum dan Hak Asasi Manusia Republik Indonesia) dalam Surat Keputusan No. C-13084 HT.01.01.TH.2004 tanggal 25 Mei 2004 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 51 tanggal 25 Juni 2004, Tambahan No. 6052.

MAL was established based on Deed No. 14 dated February 27, 2004 of Yulia, S.H., public notary in Tangerang. The Deed of Establishment was approved by the Ministry of Justice of the Republic of Indonesia (currently the Ministry of Law and Human Rights of the Republic of Indonesia) in its Decision Letter No. C-13084 HT.01.01.TH.2004 dated May 25, 2004 and was published in the State Gazette of the Republic of Indonesia No. 51 dated June 25, 2004 Supplement No. 6052.

Berdasarkan Akta No. 106 tanggal 31 Agustus 2010 dan No. 45 tanggal 12 Oktober 2010, keduanya dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham MAL menyetujui untuk meningkatkan modal ditempatkan dan disetor dari Rp 5.000.000.000 menjadi Rp 6.280.000.000 dan selanjutnya menjadi Rp 12.940.000.000, yang diambil bagian seluruhnya oleh GEM, sehingga kepemilikan GEM atas MAL meningkat dari 99,980% menjadi 99,992%.

Based on Deeds No. 106 dated August 31, 2010 and No. 45 dated October 12, 2010, both of Hannywati Gunawan S.H., public notary in Jakarta, the shareholders of MAL agreed to increase its issued and paid up capital from Rp 5,000,000,000 to Rp 6,280,000,000 and further to Rp 12,940,000,000, which were all acquired by GEM, thus, increasing GEMs ownership interest in MAL from 99.980% into 99.992%.

Berdasarkan Akta No. 124 tanggal 29 Desember 2010 dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham MAL menyetujui penjualan 12.939 saham MAL yang dimiliki GEM kepada BKES, anak perusahaan, dan 1 saham yang dimiliki oleh PT Sinar Mas Cakrawala (SMC), pihak berelasi, kepada Perusahaan.

Based on Deed No. 124 dated December 29, 2010 of Hannywati Gunawan, S.H., public notary in Jakarta, the shareholders of MAL agreed to sell 12,939 shares of MAL owned by GEM to BKES, a subsidiary, and 1 share owned by PT Sinar Mas Cakrawala, a related party, to the Company.





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Berdasarkan Akta No. 68 tanggal 18 Februari 2011 dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham MAL menyetujui penjualan 12.939 saham MAL yang dimiliki BKES kepada GEM.

Based on Deed No. 68 dated February 18, 2011 of Hannywati Gunawan, S.H., public notary in Jakarta, the shareholders of MAL agreed to sell 12,939 shares of MAL owned by BKES to GEM.

Dalam melaksanakan kegiatan pertambangannya, MAL telah memperoleh perijinan sebagai berikut:

In relation to its mining activities, MAL has obtained the following licenses:



1. IUP Operasi Produksi/ Kecamatan Bayung Lencir Keputusan Bupati Musi Banyuasin / 11 September 2009 Production Operations Kabupaten Musi Banyuasin Decision of Bupati Musi Banyuasin s.d./up to 7 Maret/March 2017

Provinsi Sumatera Selatan/ No. 1259 Tahun 2009South Sumatera Province

2. SK Perubahan Masa - - Keputusan Bupati Musi Banyuasin/ 11 September 2009 s.d.Berlaku IUP Operasi Decision of Bupati Musi Banyuasin s.d./up to 8 Maret/March 2021Produksi/ No. 0672 Tahun 2010Decision Letter onChange in Validity Period of IUP Production Operations

4.836

NIL NIL NIL didirikan berdasarkan Akta No. 5 tanggal 25 Agustus 2004 dari Yulia, S.H., notaris di Tangerang. Akta pendirian ini disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. C-24526 HT.01.01.TH.2004 tanggal 1 Oktober 2004 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 13 tanggal 15 Februari 2005, Tambahan No. 1601.

NIL was established based on Deed No. 5 dated August 25, 2004 of Yulia, S.H., public notary in Tangerang. The Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. C-24526 HT.01.01.TH.2004 dated October 1, 2004 and was published in the State Gazette of the Republic of Indonesia No. 13 dated February 15, Supplement No. 1601.

Berdasarkan Akta No. 15 tanggal 12 Oktober 2010 dari Deni Thanur, S.E., S.H., M.Kn., notaris di Jakarta, para pemegang saham NIL menyetujui peningkatan modal ditempatkan dan disetor dari Rp 5.000.000.000 menjadi Rp 29.300.000.000, yang diambil seluruhnya oleh GEM, sehingga kepemilikan GEM pada NIL meningkat dari 99,980% menjadi 99,997%.

Based on Deed No. 15 dated October 12, 2010 of Deni Thanur, S.E., S.H., M.Kn., public notary in Jakarta, the shareholders of NIL agreed to increase its issued and paid up capital from Rp 5,000,000,000 to Rp 29,300,000,000, which were all acquired by GEM, thus, increasing GEMs ownership interest in NIL from 99.980% into 99.997%.

Berdasarkan Akta No. 121 tanggal 29 Desember 2010 dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham NIL menyetujui penjualan 29.299 saham NIL yang dimiliki GEM kepada BKES, anak perusahaan, dan 1 saham yang dimiliki oleh SMC, pihak berelasi, kepada Perusahaan. Kepemilikan BKES pada NIL sebesar 99,997%.

Based on Deed No. 121 dated December 29, 2010 of Hannywati Gunawan, S.H., public notary in Jakarta, the shareholders of NIL agreed to sell 29,299 shares of NIL owned by GEM to BKES, a subsidiary, and 1 share owned by SMC, a related party, to the Company. The ownership interest of BKES in NIL is 99.997%.





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Dalam melaksanakan kegiatan pertambangannya, NIL telah memperoleh perijinan sebagai berikut:

In relation to its mining activities, NIL has obtained a license with details as follows:

Daerah/ Luas Area/ No. Surat Keputusan/ Masa Berlaku/

No. Ijin KP/License Location Area Decision Letter No. ValidityHektar/ Hectare

1. IUP Operasi Produksi/ Kecamatan Rakit Kulim, 2.000 Keputusan Bupati Indragiri Hulu/ 20 April 2010 s.d./up toProduction Operation Kabupaten Indragiri Hulu, Decision of Bupati Indragiri Hulu 5 Juni/June 2013

Provinsi/Province Riau 08/IUP/545-02/IV/2010

NIP NIP NIP didirikan berdasarkan Akta No. 11 tanggal 30 Januari 2004 dari Yulia, S.H., notaris di Tangerang. Akta pendirian ini disahkan oleh Menteri Kehakiman dan Hak Asasi Manusia Republik Indonesia (sekarang Menteri Hukum dan Hak Asasi Manusia) dalam Surat Keputusan No. C-13083 HT.01.01.TH.2004 tanggal 25 Mei 2004 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 51 tanggal 25 Juni 2004, Tambahan No. 6051.

NIP was established based on Deed No. 11 dated January 30, 2004 of Yulia, S.H., public notary in Tangerang. The Deed of Establishment was approved by the Ministry of Justice and Human Rights of the Republic of Indonesia (currently the Minister of Law and Human Rights of the Republic of Indonesia) in its Decision Letter No. C-13083 HT.01.01.TH.2004 dated May 25, 2004 and was published in the State Gazette of the Republic of Indonesia No. 51 dated June 25, 2004, Supplement No. 6051.

Berdasarkan Akta No. 70 tanggal 27 September 2010 dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham NIP antara lain menyetujui penjualan 14 saham NIP yang dimiliki PT Andalan Satria Lestari, pihak ketiga, kepada MAL dan 1 saham yang dimiliki PT Persada Bangun Lestari, pihak ketiga, kepada GEM serta peningkatan modal ditempatkan dan disetor dari Rp 15.000.000 menjadi Rp 1.295.000.000, yang diambil bagian seluruhnya oleh MAL. Kepemilikan MAL pada NIP adalah 99,923%.

Based on Deed No. 70 dated September 27, 2010 of Hannywati Gunawan, S.H., public notary in Jakarta, the shareholders of NIP agreed among others to sell 14 shares of NIP owned by PT Andalan Satria Lestari, a third party, to MAL and 1 share of NIP owned by PT Persada Bangun Lestari, a third party to GEM and to increase its issued and paid up capital from Rp 15,000,000 to Rp 1,295,000,000, which were all acquired by MAL. MALs ownership interest in NIP is 99.923%.

Berdasarkan Akta No. 127 tanggal 29 Desember 2010 dari Hannywati Gunawan, S.H., notaris di Jakarta, pemegang saham NIP menyetujui penjualan 1 saham dalam NIP yang dimiliki GEM kepada BKES.

Based on Deed No. 127 dated December 29, 2010 of Hannywati Gunawan, S.H., public notary in Jakarta, shareholders of NIP agreed to sell 1 share of NIP owned by the GEM to BKES.

Berdasarkan Akta No. 156 tanggal 25 April 2011 dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham NIP menyetujui peningkatan modal ditempatkan dan disetor dari Rp 1.295.000.000 menjadi Rp 11.295.000.000 yang diambil bagian seluruhnya oleh MAL. Dengan peningkatan tersebut, kepemilikan MAL atas NIP meningkat dari 99,923% menjadi 99,991%.

Based on Deed No. 156 dated April 25, 2011 of Hannywati Gunawan, S.H., public notary in Jakarta, the shareholders of NIP agreed to increase its issued and paid up capital from Rp 1,295,000,000 to Rp 11,295,000,000 which were all acquired by MAL. Accordingly with such issuance, MALs ownership interest in NIP increased from 99.923% to 99.991%.





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NIP telah memperoleh ijin pengusahaan pertambangan batubara sebagai berikut:

NIP has obtained the following coal mining licenses:



1. IUP Operasi Produksi/ Kecamatan Bayung Lencir Keputusan Bupati Musi Banyuasin/ 11 September 2009 Production Operations Kabupaten Musi Banyuasin, Decision of Bupati Musi Banyuasin s.d/up to 7 Maret/March 2017

Provinsi Sumatera Selatan/ No. 1255 Tahun 2009South Sumatera Province

2. Persetujuan Perubahan Keputusan Bupati Musi Banyuasin/ Perpanjangan ijin sampai denganMasa Berlaku IUP Decision of Bupati Musi Banyuasin 8 Maret 2021 dan dapatOperasi Produksi/ No. 0671 Tahun 2010 diperpanjang kembali/Approval on the Change Extension of the Licenseof the Validity Period of IUP until March 8, 2021 and can beProduction Operations further extended

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4.500

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WAL WAL WAL didirikan berdasarkan Akta No. 15 tanggal 27 Februari 2004 dari Yulia, S.H., notaris di Tangerang. Akta pendirian ini disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. C-12838 HT.01.01.TH.2004 tanggal 21 Mei 2004 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 57 tanggal 16 Juli 2004, Tambahan No. 6872.

WAL was established based on Deed No. 15 dated February 27, 2004 of Yulia, S.H., public notary in Tangerang. The Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. C-12838 HT.01.01.TH.2004 dated May 21, 2004 and was published in the State Gazette of the Republic of Indonesia No. 57 dated July 16, 2004, Supplement No. 6872.

Berdasarkan Akta No. 118 tanggal 29 Desember 2010 dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham WAL menyetujui penjualan 4.999 saham WAL yang dimiliki GEM kepada BKES, anak perusahaan, dan 1 saham yang dimiliki oleh SMC, pihak berelasi, kepada Perusahaan, sehingga kepemilikan BKES pada WAL sebesar 99,980%.

Based on Deed No. 118 dated December 29, 2010 of Hannywati Gunawan, S.H., public notary in Jakarta, the shareholders of WAL agreed to sell 4,999 shares of WAL owned by GEM to BKES, a subsidiary, and 1 share owned by SMC, a related party, to the Company, accordingly interest ownership BKES in WAL was 99.980%.

Dalam melaksanakan kegiatan pertambangannya, WAL telah memperoleh perijinan sebagai berikut:

In relation to its mining activities, WAL has obtained the following licenses:

Ijin KP/ Daerah/ Luas Area/ No. Surat Keputusan/ Masa Berlaku/

No. Licenses Location Area Decision Letter No. ValidityHektar/ Hectare

1. IUP Operasi Produksi/ Desa Lubuk Mandarsah, 195 Keputusan Bupati Tebo/ 12 April 2010 s.d./up toProduction Kecamatan Tengah Ilir, Decision of Bupati Tebo 11 April 2012Operations Kabupaten Tebo, No. 197/ESDM/2010

Provinsi/Province Jambi

2. IUP Operasi Produksi/ Desa Lubuk Mandarsah, 199 Keputusan Bupati Tebo/ 11 Maret/March 2010 s.d./up toProduction Kecamatan Tengah Ilir, Decision of Bupati Tebo 10 Maret/March 2013Operations Kabupaten Tebo, No. 160/ESDM/2010

Provinsi/Province Jambi

3. Perpanjangan IUP Desa Lubuk Mandarsah, 4.807 Keputusan Bupati Tebo/ 21 April 2010 s.d./up toEksplorasi/ Kecamatan Tengah Ilir, Decision of Bupati Tebo 20 April 2012Extension of IUP Kabupaten Tebo, No. 208/ESDM/2010Exploration Provinsi/Province Jambi

4. Perpanjangan IUP Desa Lubuk Mandarsah, 2.165 Keputusan Bupati Tebo/ 21 April 2010 s.d./up toEksplorasi/ Kecamatan Tengah Ilir, Decision of Bupati Tebo 20 April 2013Extension of IUP Kabupaten Tebo, No. 209/ESDM/2010Exploration Provinsi/Province Jambi





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Ijin KP/ Daerah/ Luas Area/ No. Surat Keputusan/ Masa Berlaku/No. Licenses Location Area Decision Letter No. Validity

Hektar/ Hectare

5. Perpanjangan IUP Desa Lubuk Mandarsah, 2.120 Keputusan Bupati Tebo/ 25 Januari/January 2010 s.d./up toEksplorasi/ Kecamatan Tengah Ilir, Decision of Bupati Tebo 24 Januari/January 2013Extension of IUP Kabupaten Tebo, No. 12/ESDM/2010Exploration Provinsi/Province Jambi

6. Perpanjangan IUP Desa Dusun Mudo, 1.079 Keputusan Bupati Tanjung Jabung 30 Desember/December 2011 s.d./up toEksplorasi/ Kecamatan Muara Papalik Decision of Bupati West Tanjung 29 Desember/December 2013Extension of IUP Kabupaten Tanjung Jabung Barat No. 596 Tahun 2011Exploration Provinsi/Province Jambi

BBU BBU

BBU didirikan berdasarkan Akta No. 38 tanggal 16 Oktober 2006 dari Suprayitno, S.H., notaris di Jambi. Akta pendirian ini disahkan oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. W20-00021.HT.01.01.Tahun 2007 tanggal 7 Maret 2007 dan telah diumumkan dalam Berita Negara Republik Indonesia No. 87 tanggal 29 Oktober 2010, Tambahan No. 36526.

BBU was established based on Deed No. 38 dated October 16, 2006 of Suprayitno, S.H., public notary in Jambi. The Deed of Establishment was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its Decision Letter No. W20-00021.HT.01.01.Tahun 2007 dated March 7, 2007 and was published in the State Gazette of the Republic of Indonesia No. 87 dated October 29, 2010, Supplement No. 36526.

Berdasarkan Akta No. 81 tanggal 21 Mei 2010 dari Hannywati Gunawan, S.H., notaris di Jakarta, para pemegang saham BBU, pihak ketiga, menyetujui penjualan 499 saham BBU kepada KIM dan 1 sah

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